CAFR FY1992KODIAK ISLAND BOROUGH
1992
COMPREHENSIVE
I_l0 to Lll_1�
FINANCIAL
REPORT
JULY 1, 1991 -JUNE 30, 1992
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1992
TABLE OF CONTENTS
INTRODUCTORY SECTION
ELECTED OFFICIALS (PHOTOGRAPHS)
BOROUGH OFFICIALS
BOARDS AND COMMITTEES
' MAP OF KODIAK ISLAND BOROUGH
GFOA CERTIFICATE OF ACHIEVEMENT
ORGANIZATIONAL CHART
LETTER OF TRANSMITTAL
FINANCIAL SECTION
EXHIBIT
INDEPENDENT AUDITOR'S REPORT
GENERAL PURPOSE FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types and Account Groups
Combined Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance - All Governmental Fund Types
Combined Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balances - Budget and Actual - General Fund,
Special Revenue Fund and Debt Service Fund
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings - Proprietary Fund Type - Enterprise Funds
Combined Statement of Cash Flows
Proprietary Fund Type - Enterprise Funds
Notes to Financial Statements
COMBINING, INDIVIDUAL FUND AND ACCOUNT GROUP
FINANCIAL STATEMENTS
GENERAL FUND:
Balance Sheet
Statement of Revenues, Expenditures, Transfers and Changes
in Fund Balance - Budget and Actual
Schedule of Expenditures and Transfers -
Budget and Actual
1
2
3
4
5
A -1
A -2
A -3
PAGE
v
vi
vii
ix
x
xi
xiii
1
2
6
8
11
12
13.
34
35
38
i
I i
ii
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1992
TABLE OF CONTENTS
'
(Continued)
EXHIBIT
PAGE
SPECIAL REVENUE FUNDS:
Combining Balance Sheet
B -1
44
Combining Statement of Revenues, Expenditures, Transfers
'
and Changes in Fund Balance (Deficit)
B -2
46
Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance - Budget and Actual:
Fire and Road Service Districts:
Fire:
£
Area 1
B -3
48
Women's Bay
Road:
B -4
49
Monashka Bay
B -5
50
`
District 1
B -6
51
Women's Bay
Bay View
B -7
B -8
52
53
'
State Grant Programs:
Mental Health Center
B -9
54
Mental Health Center - Schedule of Expenditures
B -10
55
Federal and State Grant Programs:
Coastal Management
B -11
56
E
Day Care
Education
B -12
B -13
57
58
Land Sales
B -14
59
Building and Grounds
B -15
60
j
Woodland Acres Lighting
B -16
61
Community and Regional Affairs
B -17
62
Oil Spill Cleanup
B -18
63
'
DEBT SERVICE FUNDS:
Combining Balance Sheet
C -1
66
Combining Statement of Revenues, Expenditures
Transfers, and Changes in Fund Balance
C -2
67
Statement of Revenues, Expenditures, Transfers and
Changes in Fund Balance - Budget and Actual:
School Bonds
C -3
68
Other
C -4
69
CAPITAL PROJECTS FUNDS:
Combining Balance Sheet
D -1
72
Combining Statement of Revenues, Expenditures,
Transfers and Changes in Fund Balances (Deficits)
D -2
74
Schedule of Capital Projects
D -3
76
I i
ii
Kodiak Island Borough
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1992
TABLE OF CONTENTS
(Continued)
iii
EXHIBIT
PAGE
ENTERPRISE FUNDS:
Combining Balance Sheet
E -1
80
Combining Statement of Revenues, Expenditures, Transfers
and Changes in Retained Earnings
E -2
82
Combining Statement of Cash Flows
E -3
83
Sanitary Services:
Balance Sheet
E -4
84
Statement of Revenues, Expenditures, Transfers
and Changes
in Retained Earnings - Budget and Actual
E -5
85
Statement of Cash Flows
E -6
86
Water:
Balance Sheet
E -7
87
Statement of Revenues, Expenditures, Transfers
and Changes
in Retained Earnings - Budget and Actual
E -8
88
Statement of Cash Flows
E -9
89
Sewer:
Balance Sheet
E -10
90
Statement of Revenues, Expenditures, Transfers
and Changes
in Retained Earnings - Budget and Actual
E -11
91
Statement of Cash Flows
E -12
92
Hospital:
Balance Sheet - December 31, 1990 and 1989
E -13
93
Statement of Revenues, Expenditures, Transfers
and Changes
in Retained Earnings
E -14
94
Statement of Cash Flows
E -15
95
AGENCY FUNDS:
Combining Statement of Changes in Assets,
Liabilities and Fund Balances
F -1
98
GENERAL FIXED ASSETS ACCOUNT GROUP:
Schedule of General Fixed Assets by Source
G -1
100
Schedule of General Fixed Assets by Function and
Activity
G -2
101
Schedule of Changes in General Fixed Assets by
Function and Activity
G -3
102
iii
Kodiak Island Borough I
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1992
'
TABLE OF CONTENTS
(Continued)
f
EXHIBIT
PAGE
GENERAL LONG -TERM DEBT ACCOUNT GROUP:
Schedule of General Long -Term Debt
H -1
104
SUPPLEMENTAL FINANCIAL DATA:
'
Summary of Debt Service Requirements to Maturity
I -1
106
General Obligation School Improvement Bonds, Series 1986A
Retirement Schedule
I -2
107
General Obligation School Refunding Bonds, Series 1989
Retirement Schedule
I -3
108
Asbestos Removal Loan Payable
I -4
109
STATISTICAL SECTION
{
TABLE
PAGE
P
STATISTICAL TABLES:
General Governmental Expenditures and Other Uses
by Function - Last Ten Fiscal Years
1
112
General Revenues by Source - Last Ten Fiscal Years
2
113
Property Tax Levies and Collections -
Last Ten Fiscal Years
3
114
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years
4
115
Property Tax Rates - All Overlapping Governments -
'
Last Ten Fiscal Years
5
116
Ten Largest Taxpayers
6
117
Ratio of Net General Bonded Debt - Last Ten Fiscal Years
7
118
Computation of Direct and Overlapping Debt
8
119
Computation of Legal Debt Margin
9
120
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures -
Last Ten Fiscal Years
10
121
Demographic Statistics - Last Ten Fiscal Years
11
122
,
Salaries and Surety Bonds of Principal Officials
12
123
Property Value, Construction and Bank Deposits -
1.
Last Ten Fiscal Years
13
124
Miscellaneous Statistical Data - Years Ended June 30, 1983
'
through June 30, 1992
14
126
r�
iv
SECTION 1
INTRODUCTORY SECTION
Annual Report • Kodiak Island Borough, Alaska
- ASSEMBLY MEMBERS-
To the Honorable Mayor and Members of the Kodiak Island Borough Assembly:
In accordance with the provisions of the Kodiak Island Borough Code, there is presented herewith
the Comprehensive Annual Financial Report for the year ended June 30, 1992, and the related
statements and statistical tables.
Respectfully submitted,
/ �. 14e
Karleton G. Short, Finance Director
BETTY J. FITZJEARL
At Large, 1993
JEROME SELBY
Mayor of Kodiak Island Borough, 1992
GARY L. STEVENS
At Large, 1992
Deputy Presiding Officer
GORDON J. GOULD
At Large, 1994
SUZANNE J. HANCOCK
At Large, 1993
JACK L. McFARLAND
At Large, 1993
Presiding Officer of Assembly
MICHAEL R. MILLIGAN
At Large, 1994
MARY A. MONROE
At Large, 1992
BOROUGH OFFICIALS '
KODIAK ISLAND BOROUGH '
YEAR ENDED JUNE 30, 1992
BOROUGH ASSEMBLY
Betty J. Fitzjearl '93 Michael R. Milligan 1 94
Gordon J. Gould 1 94 Mary A. Monroe 1 92
Suzanne J. Hancock '93 (Deputy Presiding Officer) Gary L. Stevens 1 92
Jack L. McFarland 1 93 (Presiding Officer)
BOROUGH MAYOR
Jerome M. Selby 1 92
Karleton G. Short . . . . . . . . .
. . . . . . . . Finance Director /Treasurer
Vacant . . . . . . . . . . . . . . .
. . . .Facilities /Engineering Coordinator
Donna Smith . . . . . . . . . . . .
. . . . . . . . . . . . . . Borough Clerk
Linda L. Freed . . . . . . . . . .
. . . . . . . . . . . . Planning Director
Patrick S. Carlson . . . . . . . .
. . . . . . . . . . . . Assessor /Appraiser
Perry L. Page . . . . . . . . . . .
. . . . . . . . . Data Processing Manager
Pamela Delys - Baglien . . . . . . .
. . . . . . . . . . Mental Health Director
Earl A. Smith . . . . . . . . . . .
. . . . . . . . . . . . . . . . Fire Chief
Charles E. "Bud" Cassidy . . . . .
. . . . . . . Resource Management Officer
Jamin, Ebell, Bolger, Gentry . . .
. . . . (Contracted Firm) Borough Attorney
Edwin Myers . . . . . . . . . . . .
. . . . . . . . . . Hospital Administrator
John Witteveen . . . . . . . . . .
. . . . . Superintendent, School District
Cheryl Bolger . . . . . . . . . . .
. . . . . . . . . . . . . . . . Accountant
Barbara Templeton . . . . . . . . .
. . . . . . . . . . . . Purchasing Agent
E
(
Vi
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i
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 1992
School Board (7)
Alice Knowles
Mary La Ferriere
Cheryl McNeil
* Bill Oliver
Norm Wooten
Susan Workman, CG rep.
Daniel Rohrer, Stud. rep.
' Hospital Advisory Board (9)
Ben Ardinger
Alan Austerman
Gil Bane
Gordon Gould
Dr. Roger Mason
Gretchen Saupe
* Betty Springhill
' Wayne Stevens
Jeannie Volker
Mental Health Center Advisory
' Board (81
* James Carmichael
Vickie Hester
Meri Holder
Jeri Jensen
Mary Monroe
Evelyn Mortimer
Karen Perkins
Ron Woitel
Planning and Zoning Commission (7)
Jon R. Aspgren
Shawn "Tuck" Bonney
Jerrol Friend
Robin Heinrichs
* Tom Hendel
Jody Hodgins
William Matzell
Woodland Acres Street Lighting
Service District Advisory Board (3)
Bob Hatcher
Barbara Heinrichs
* Sharon Nault
1
Parks and Recreatio Committee (12
Forrest Blau
Brian Himelbloom
Jeri Jensen
Claire Holland
Alice Knowles
William Matzell
Bill McClain
Jack McFarland
* David Odell
Gloria Wiechmann
Melissa Robinson
Jane Spicciani
Building Code Board of ADpeals
(A Review Boardl (9)
Ron Chase
Gerald Cloudy
Louise Cusson
Woody Koning
William Matzell
Mike Milligan
Tom Rainey
* James Wheeler
Vacant - School Board Rep.
Personnel Advisory Board (5)
Joanne Demke
* Craig N. Fanning
Katharine Gravino
Jeff Silva
Dorothy Weeks
Data Processing Steering
Committee (7)
Suzanne Hancock
Jack McFarland
Perry Page
* Jerome Selby
Karleton Short
John Witteveen
Jocelyn Zwiefelhofer
Fire Protection Area #1
Advisory Board (51
* Scott Arndt
Vernon Berns
Charles Lorenson
John Shank
Bill Swearingin
vii
Indicates chair
Citizen Board of Equalization (5)
i
* Jim Carmichael
Andy Cristaldi
Tim Hurley
Tom Peterson
Will Walton
Bill Roberts, Alternate
1
Parks and Recreatio Committee (12
Forrest Blau
Brian Himelbloom
Jeri Jensen
Claire Holland
Alice Knowles
William Matzell
Bill McClain
Jack McFarland
* David Odell
Gloria Wiechmann
Melissa Robinson
Jane Spicciani
Building Code Board of ADpeals
(A Review Boardl (9)
Ron Chase
Gerald Cloudy
Louise Cusson
Woody Koning
William Matzell
Mike Milligan
Tom Rainey
* James Wheeler
Vacant - School Board Rep.
Personnel Advisory Board (5)
Joanne Demke
* Craig N. Fanning
Katharine Gravino
Jeff Silva
Dorothy Weeks
Data Processing Steering
Committee (7)
Suzanne Hancock
Jack McFarland
Perry Page
* Jerome Selby
Karleton Short
John Witteveen
Jocelyn Zwiefelhofer
Fire Protection Area #1
Advisory Board (51
* Scott Arndt
Vernon Berns
Charles Lorenson
John Shank
Bill Swearingin
vii
Indicates chair
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
BOARDS AND COMMITTEES
YEAR ENDED JUNE 30, 1992
Bay View Road Service District
Airport Advisory Committee (11)
Advisory Board (5)
Jacque Bunting
Dawn Black
Dan Dorman
Randy Chase
Tom Merriman
Rick Holzshu
Michael Machulsky
Ken Minks
Edward Randolph
* Reed Oswalt
Peggy Rauwolf
Lee Robbins
Monashka Bay Road Service District
* Wayne Stevens
Advisory Board (5)
Joel Wattum
Roger Blacket
John Chya, ex- officio
Lou Dochtermann
John Malmrose, CG ex- officio
Don Fox
Gregg Razo
* Joel Wattum
Emeraencv Services Council (5
Tom Barrett, Capt. USCG
* Gary Bloomquist
Wally Johnson
Jerome Selby
Gary Stevens
Services District No. 1
Advisory Board (7)
* Scott Arndt
Jim Fisk
Charles Lorenson
Dan W. Moen
Andy Nault
Earl Smith, Jr.
Tom Streifel
Women's Bav Service Di strict
Advisory Board (7)
Andy Edgerly
* Bill Farling
James "Butch" Fitzjearl
George Lee
Dale Starkovich
Brian Stevens
Bob Tarrant
Kodiak Island Transportation Study
Steering Committee (KITS)
Gary Bloomquist
Dave Crowe
Betty Fitzgerald
Wally Johnson
Jerome Selby * Indicates chair
viii
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Certificate of
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for Excellence
in Financial
Reporting
Presented to I
Kodiak Island Borough,
Alaska
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended '
i
June 30, 1991
A Certificate of Achievement for Excellence in Financial '
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
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Parks and Recreation
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October 2, 1992
Kodiak IslandBorough
710 MILL BAY ROAD
KODIAK, ALASKA 99615 -6340
PHONE (907) 486.5736
To the Honorable Mayor and Members of the Assembly
Kodiak Island Borough
Kodiak, Alaska
The comprehensive annual financial report (CAFR) of the Kodiak Island Borough
(Borough), Kodiak, Alaska for the fiscal year ended June 30, 1992 is submitted
herewith.
This report was prepared by the Borough Finance Department. Responsibility for the
accuracy, completeness and fairness of presentation, including all disclosures, rests
' with the Borough. We believe the data, as presented, is accurate in all material
respects, that it is presented in a manner designed to fairly set forth the financial
position and results of operations of the Borough as measured by the financial activity
of its various funds, and that all disclosures necessary to enable the reader to gain
maximum understanding of the Borough's financial affairs have been included.
This comprehensive annual financial report is presented in three main sections:
introductory, financial, and statistical. The introductory section includes background
on the Borough, the fund accounting concept used by the Borough, and some financial
presentations. The financial section includes the report of the independent
accountants, combined financial statements, notes to financial statements, and
more - detailed combining and individual financial statements and schedules. The
t statistical section includes selected financial and general information generally
presented on a ten year comparative basis.
GENERAL INFORMATION
The Kodiak Island Borough lies at the western border of the Gulf of Alaska, about 40
miles south of the Kenai Peninsula. About two - thirds of the Borough lies in the Kodiak
archipelago. One third of the Borough is on the Alaska Peninsula across the Shelikof
Strait from Kodiak Island. The Shelikof Strait is only 20 miles wide in places. The
Borough encompasses 7,130 square miles, making it slightly smaller than the State of
Massachusetts. The Borough was incorporated September 30, 1963 as a Second Class
Borough by Chapter 146 Sessions, Laws of Alaska 1961, as amended. The Borough is
governed by a strong Mayor /Assembly form of government. The Borough Assembly is
composed of seven members who are elected at large.
The funds related to the Borough included in our CAFR are considered to be within the
oversight responsibility of the Borough Assembly.
The criteria used in determining the reporting entity are consistent with the
Codification of Governmental Accounting and Financial Reporting Standards Section 2100,
"Defining the Reporting Entity ". Based on these criteria, the various funds and
account groups (being all the funds and account groups of the Borough) shown in the
Table of Contents are included in this report.
xiii
ECONOMIC CONDITION AND OUTLOOK
The economic condition of the Kodiak Island Borough remains quite good. The main
industries of the Kodiak Island Borough are commercial fishing, logging, and tourism.
While some segments of the commercial fishing industry are down, others are up.
Logging has been fairly stable. The State Ferry Tustemena returned to service in 1992
after being in Washington state for repairs during all of 1991. This helped the
tourism industry considerably.
Commercial fishing is by far the largest industry in the Kodiak Island Borough. For
all of the fisheries combined the total catch in calendar year 1991 was $101,877,551
compared to $103,639,625 in calendar year 1990. In recent years salmon has accounted
for approximately one third of the total value of the fisheries industry in Kodiak.
The 1992 salmon catch in Kodiak was fairly good; with an ex- vessel value of $39
million. Last year's (1991) ex- vessel value was $31 million.
The shellfish (crab) industry continues its decline with a catch of $10.3 million in
1991 compared to $27.6 million in 1990 and $47.5 million in 1980.
The assessed value of real and personal property of the Kodiak Island Borough has risen
from $380,320,299 in 1983 to $559,359,084 in 1992, an increase of 47 %. The
unemployment rate as of June 30 was 5.1% which compares quite favorably with last
year's rate of 8.2 %. July 5th is the traditional time when the canneries hire their
seasonal workers. The unemployment rate is generally 3 to 12 %.
Based on current Chamber of Commerce projections, the Kodiak Island Borough will
continue to grow through the end of the century. This growth will positively impact
the Kodiak Island Borough but it must be realized that the Borough will also have to
grow to provide the same level of services to its residents.
MAJOR INITIATIVES
In preparing the Fiscal Year 1992 budget the Kodiak Island Borough identified several
major projects to be addressed in Fiscal Year 1992. All major projects are listed in
Exhibit D -3 of the annual report.
The largest project initiated in Fiscal Year 1992 was the High School Alteration, Phase
II. This project involves several stages. The first moves the weight room into the
gymnasium area. The existing weight room will then be remodeled into a new home
economics space, and the existing home economics space will be remodeled into 3 class
rooms.
The second largest project initiated in Fiscal Year 1992 was the purchase and
renovation of the Salonie creek rifle range. This is a 15 position, 500 yard rifle
range. It is situated in the Salonie Creek Valley and encompasses 700 acres. There
is also a 50 yard pistol range on the property. This range was constructed by the U.S.
Navy during World War II and declared surplus when they left.
Other projects started in Fiscal Year 1992 include the Hospital hot water tank, the
Hospital laundry slab, and several small school projects.
The Kodiak Island Borough has designated a new hospital as their number one capital
project. To this end, the Borough has done the site work and completed the design of
a new hospital. The Borough is presently procuring funds to begin construction of the
hospital.
DEPARTMENT OR ACTIVITY SERVICE EFFORTS AND ACCOMPLISHMENTS
The Borough provides a variety of services including education, health, garbage
collection and disposal, planning and zoning, public improvements, and general '
administration. The Borough provides for education through the Kodiak Island Borough
School District and has contracted with Lutheran Health Systems Management Company to
operate the Borough Hospital.
xiv
The Borough is responsible for operating the sanitary landfill and provides water and
sewer services outside the Kodiak city limits. The Borough has oversight
responsibility for four road service districts, two fire protection districts, and a
street light service district.
Each year the Borough selects a department to highlight for its efforts and
' accomplishments. This year Resource Management was selected. Resource Management is
staffed by one individual, the Resource Management Officer, and is supported by a 1/2
time secretary.
' This year Resource Management was responsible for the acquisition of almost 8000 acres
from the State of Alaska. The Resource Management Office orchestrated the title work,
surveying, platting, and permitting that led to the issuance of this patent. Borough
property is the foundation for economic development around the island and this
acquisition is part of the Borough's multi - million dollar land asset.
This office is also involved in many of the Borough's public works projects. This
involvement includes acquiring easements or fee simple ownership of private land that
is essential for the completion of public projects. The Borough has just completed
work on the construction of a new road (Sharatin Road). This office negotiated and
acquired two road right -of -way easements from two adjacent property owners.
' The Kodiak Island Borough School District and the Borough Assembly have identified the
need for a new elementary school. During fiscal year 1992 the Resource Management
Office provided information on site selection and performed the analysis to come up
with a number of site candidates. Upon selection of a site, this office negotiated on
' behalf of the Borough for the acquisition of six parcels totaling 12 acres from three
owners at a cost of a quarter million dollars.
Also during fiscal year 1992 the Resource Management Office negotiated for and
purchased a 700 acre site that is the location of the premier outdoor rifle range in
the state of Alaska. The Salonie Creek Rifle Range is a surplus military range that
was conveyed to a local native corporation. The Borough subsequently purchased the
range and will return it to full use for the public. The range was purchased for a
half million dollars.
The Resource Management Office also administers approximately 25 leases, permits, and
gravel sale contracts for compliance with the terms of these contracts.
This office has been recognized as a local resource for information and assistance
about the U.S. Army Corps of Engineers wetland permit process, land ownership
information around the island, and Federal Indian land law (i.e. Alaska Native Claims
Settlement Act).
' With the operation of our Autocad computer -aided drafting system this office looks to
continue its role providing the citizens of Kodiak current up to date information about
land ownership and resource information on the island.
Such a massive effort as described above can only be done with such limited personnel
resources due to computer technology, the cooperation of other Borough employees, as
well as the knowledge and experience of it's one staff member.
FINANCIAL INFORMATION
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.
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
xv
Borough is concerned with all aspects of internal control, both reliable and accurate
financial information and the safeguarding of Borough assets. As much as possible, in
a small office, duties are segregated and no one person has complete control over any
one area.
Budgetary controls
The Borough uses the modified accrual basis for governmental funds and the accrual
basis for enterprise funds. Under the modified accrual basis of accounting, revenues
are recognized when measurable and available and expenditures are recognized when
incurred.
Budgetary control is maintained by an annual appropriation system supplemented 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 done by staff.
GENERAL GOVERNI[ENT FUNCTIONS
The following schedule presents a summary of general fund revenues for the fiscal year
ended June 30, 1992 and the amount and percentage of increases and decreases in
relation to prior year revenues. Only the General Fund of the Borough is considered
in the following explanation of general governmental functions.
Revenue Source and Other
Financing Sources
Property taxes
Intergovernmental
Investments and property
Severance taxes
Licenses, permits, fees and other
$7,098,760 100.0 $1,46
Property tax is the largest source of revenue for the general fund of the Kodiak Island
Borough. The increase in property tax is due to an increase in the assessed value of
the Borough of $43,054,215 and increasing the mill rate from 4.5 mills to 5.5 mills.
Changes in levels of expenditures for major General Fund functions of the Borough over
the preceding year are shown in the following tabulation:
Increase
Increase
Percent
(Decrease)
Amount
of Total
Over 1990
$3,537,851
49.8%
$ 713,922
2,450,339
34.5
194,388
367,551
5.2
(88,830)
530,083
7.5
530,083
212.936
3.0
112.068
$7,098,760 100.0 $1,46
Property tax is the largest source of revenue for the general fund of the Kodiak Island
Borough. The increase in property tax is due to an increase in the assessed value of
the Borough of $43,054,215 and increasing the mill rate from 4.5 mills to 5.5 mills.
Changes in levels of expenditures for major General Fund functions of the Borough over
the preceding year are shown in the following tabulation:
I i
xvi
IJ
Increase
Percent
(Decrease)
Function
Amount
of Total
1991
General government
$1,925,177
60.0%
$(18,208)
Public safety
97,616
3.0
16,317
Public works
88,482
2.8
(61,416)
Health and sanitation
478,324
14.9
67,324
Education
27,510
0.9
(16,123)
Culture and recreation
190,700
5.9
-
Conservation and
development
400,093
12.5
(26,423
$3,207,902
100.0
S(38,529
I i
xvi
IJ
One of the major goals of the Kodiak Island Borough has been to control the increase
in expenditures. To this end, expenditures for fiscal year 1992 were some $38,529 less
than last year. While it is true that most of this reduction was in public works and
relates to a better allocation of costs to Capital Projects, the Borough has done an
excellent job on controlling expenditures.
At the end of fiscal year 1992 the Borough was able to add $133,226 to the fund balance
of the General Fund. Management feels that a minimum fund balance of two million
dollars should be maintained for the General Fund.
The following table reflects fund balance of the General Fund at the close of business
for fiscal years ended June 30:
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
1991
1,774,750
1992
1,981,577
PROPRIETARY OPERATIONS
The Kodiak Island Hospital and Care Center is contracted for management services with
the Lutheran Health Systems Management Company. The Borough is ultimately liable for
any financial loss.
The Hospital showed a profit in fiscal year 1992 of $202,989. This comes after three
years of major losses. For the six months ended June 30, 1991 the Hospital lost
$991,950, calendar year 1990 losses were $781,365 and 1989 had a loss of $809,938.
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.
In the last five years, the utility funds have had operating losses of $2,400,521. On
July 1, 1991 water, sewer, and garbage rates were increased by 46 %. The major reason
for the large loss in sanitary services for fiscal year 1992 was an 11% increase in the
contract cost for residential garbage collection. The Borough contracts with a
commercial contractor for residential garbage collection. This rate increase was based
on the Anchorage consumer price index, per the contract, and was effective July 1,
1991.
Operating Profit (Loss)
The utility funds, which include water, sewer and sanitary services are frequently
supported by contributions from the general or other funds. Management's goal is to
make the utility funds self- sufficient. To this end a rate increase is anticipated for
sanitary services. Also, water and sewer rates need to be increased.
xvii
Sanitary
Water
Sewer
Services
Total
1988
$(49,711)
$(177,372)
$(287,447)
$(514,530)
1989
(81,440)
(260,870)
(349,308)
(691,618)
1990
(95,800)
(158,587)
(95,231)
(349,618)
1991
(183,366)
(177,001)
(54,968)
(415,335)
1992
(35,137)
(138,007)
(256,276)
(429,420)
The utility funds, which include water, sewer and sanitary services are frequently
supported by contributions from the general or other funds. Management's goal is to
make the utility funds self- sufficient. To this end a rate increase is anticipated for
sanitary services. Also, water and sewer rates need to be increased.
xvii
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.
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. Also, periodically the
actuarial assumptions are revised by the State of Alaska PERS. When such occurrence
creates a deficiency, that amount is paid within the period of notification or upon
adoption of a subsequent budget.
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.
DEBT ADMINISTRATION
Summary of debt principal outstanding at fiscal year end was:
General obligation, school 1991
General obligation refunding 1989
Environmental Protection Agency loan
$ 4,090,000
8,105,000
260,414
512,455,414
On July 15, 1991, Kodiak Island Borough issued $4,875,000 in General Obligation School
Refunding Bonds, 1991 Series A, to refund the 1986 Series A General Obligation Variable
Rate Demand Bonds. The interest rate on the bonds will vary from 4.65% to 5.90% and
will be paid in semi - annual installments commencing December 1, 1991 with the last
installment due June 1, 1996.
Proceeds from the issuance were used as follows:
Deposit to principal and interest fund
to pay off refunded issue
Costs of issuance
Original issue discount
$ 4,738,047
126,938
10,015
$ 4,875,000
The Statutes of the State of Alaska and the Code of the Kodiak Island Borough do not
establish a legal debt margin. Our debt capacity is determined by a vote of the
electorate and ultimately by the marketplace when debt is attempted to be placed.
The Borough has no revenue bonds authorized or issued. The Borough's general
obligation bonds are rated as follows:
Moody's Standard
Investors Service and Poors
General obligation refunding 1991 Aaa AAA
General obligation refunding 1989 Aaa AAA
Per capita debt for the past ten years is reflected in Table 7 on page 118. You may
note that a per capita high of $1,772 was reached in 1984 during the peak years of our
new school construction. Our per capita bonded debt is now down to $399.
t
xviii
CASs MANAGEMENT
Cash management is a strong point of your current Borough Finance Department. 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.
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 all idle funds are invested on the following day.
We do recognize that there is frequently some exposure to uninsured and
uncollateralized deposits. We have made great strides in minimizing this exposure
through increased collateral and selection of banks and brokers with additional
insurance. An account is used with the local servicing bank to daily sweep the total
balances to another account. This account is collateralized by U.S. Treasuries at 102%
of carrying value. Collateral is held by a third party bank.
' On July 1, 1991 the Borough started purchasing all new investments on a delivery verses
payment system. Basically, what this means is that when the Borough purchases a new
instrument, such as a treasury bill or an Agency note, our servicing bank pays for the
instrument when it is delivered to them. All investments are held by our servicing
bank in the Borough's name. Management feels that this is a much safer way of holding
our investments.
The Borough investment policy is far more restrictive than that of 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.
During the past year the investments of the Borough have fluctuated between $18 and $21
million. Interest rates for our fiscal year started off at 5.8% to 8.0% in early July
1991. At year -end of June 30, investments were earning from 3.8% to 5.7% for an
' average yield of 4.29 %. We closed out the year with investment earnings for all funds
in the amount of $1,039,979.
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. 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. Insurance premium costs are no longer a minor
expenditure item for the Borough. In recent years, insurance premium costs have risen
x ix
OTHER INFORMATION
INDEPENDENT AUDIT
The Borough Code requires an annual audit to be made of the books of account, financial
records, and transactions of all administrative departments of the Borough. We have
complied with this requirement and the auditor's opinion has been included in this
report.
The State of Alaska requires single audits per statute and defines these requirements
in 2 AAC 45.010.
The Borough also complies with the "Federal Single Audit Act of 1984 ".
AWARDS
GOVERNMENT FINANCE OFFICERS ASSOCIATION CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN
FINANCIAL REPORTING
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the
Kodiak Island Borough for its comprehensive annual financial report for the fiscal year
ended June 30, 1991. The Certificate of Achievement is a prestigious national award
recognizing conformance with the highest standards for preparation of state and local
government financial reports.
In order to be awarded a Certificate of Achievement, a government unit must publish an
easily readable and efficiently organized comprehensive annual financial report, whose
contents conform to program standards. Such report must satisfy both generally
accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. The Borough has
received a Certificate of Achievement for the last four consecutive years (fiscal years
ended 1988 - 1991). We believe our current report continues to conform to the
Certificate of Achievement Program requirements, and we are submitting it to the
Government Finance Officers Association.
GOVERNMENT FINANCE OFFICERS ASSOCIATION DISTINGUISHED BUDGET PRESENTATION AWARD
The Borough Mayor and Finance personnel have worked hard in recent years to streamline
our budget. Each annual document encompasses the good features of the prior years
while adding the best of current ideas.
We submitted our Fiscal Year 1991 and 1992 budgets to the GFOA and received the
Distinguished Budget Presentation Award for both years.
OTHER AWARDS
Citizens of the Kodiak Island Borough are pleased to see that our Mayor, Jerome M.
Selby, has been recognized nationally. He appears in the current issue of Who's Who
in the West and also Who's Who in the World
xx
'
considerably
and are now in excess of a
million dollars annually. 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
F
independent
consultant (one who sells
only service, not insurance) to review our
coverage and
highlight potential exposure
and /or duplication of questionable coverage.
This has again been accomplished and a
copy of this report is used and is on file.
,
OTHER INFORMATION
INDEPENDENT AUDIT
The Borough Code requires an annual audit to be made of the books of account, financial
records, and transactions of all administrative departments of the Borough. We have
complied with this requirement and the auditor's opinion has been included in this
report.
The State of Alaska requires single audits per statute and defines these requirements
in 2 AAC 45.010.
The Borough also complies with the "Federal Single Audit Act of 1984 ".
AWARDS
GOVERNMENT FINANCE OFFICERS ASSOCIATION CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN
FINANCIAL REPORTING
The Government Finance Officers Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the
Kodiak Island Borough for its comprehensive annual financial report for the fiscal year
ended June 30, 1991. The Certificate of Achievement is a prestigious national award
recognizing conformance with the highest standards for preparation of state and local
government financial reports.
In order to be awarded a Certificate of Achievement, a government unit must publish an
easily readable and efficiently organized comprehensive annual financial report, whose
contents conform to program standards. Such report must satisfy both generally
accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. The Borough has
received a Certificate of Achievement for the last four consecutive years (fiscal years
ended 1988 - 1991). We believe our current report continues to conform to the
Certificate of Achievement Program requirements, and we are submitting it to the
Government Finance Officers Association.
GOVERNMENT FINANCE OFFICERS ASSOCIATION DISTINGUISHED BUDGET PRESENTATION AWARD
The Borough Mayor and Finance personnel have worked hard in recent years to streamline
our budget. Each annual document encompasses the good features of the prior years
while adding the best of current ideas.
We submitted our Fiscal Year 1991 and 1992 budgets to the GFOA and received the
Distinguished Budget Presentation Award for both years.
OTHER AWARDS
Citizens of the Kodiak Island Borough are pleased to see that our Mayor, Jerome M.
Selby, has been recognized nationally. He appears in the current issue of Who's Who
in the West and also Who's Who in the World
xx
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,
' KARLETON G. SHORT
DIRECTOR OF FINANCE
n
xxi
1
SECTION 2
FINANCIAL SECTION
101 West Benson Boulevard Telephone 907 563 4444
Anchorage, AK 99503
Price Waterhouse
INDEPENDENT AUDITOR'S REPORT
October 2, 1992
To the Mayor and Members of the Assembly
Kodiak Island Borough
4%
In our opinion, the accompanying general purpose financial statements
listed in the table of contents present fairly, in all material respects,
the financial position of the Kodiak Island Borough at June 30, 1992 and
the results of its operations and cash flows for its proprietary fund
type for the year then ended, in conformity with generally accepted
accounting principles. These general purpose financial statements are
the responsibility of the Borough's management; our responsibility is to
express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with generally accepted auditing
standards which require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant
estimates made by Borough officials, and evaluating overall financial
statement presentation. We believe that our audit provides a reasonable
basis for our above opinion on the general purpose financial statements.
As discussed in Note 16 to the general purpose financial statements,
effective July 1, 1991, the Kodiak Island Hospital and Care Center
Enterprise Fund changed its fiscal year end from December 31 to June 30.
The results of operations for the Hospital's six months ended June 30,
1991 are included as a single line item in the Statement of Revenues,
Expenses, Transfers and Changes in Fund Balance for the Year Ended
June 30, 1992.
Our audit was made for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The combining, individual
fund, and individual 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 been
subjected to the auditing procedures applied in the audit of the general
purpose financial statements and, in our opinion, is stated fairly in all
material respects in relation to the general purpose financial statements
taken as a whole.
1 1
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES
AND ACCOUNT GROUPS
JUNE 30, 1992
The accompanying notes are an integral part of these financial statements.
2
Governmental
Fund Types
Special
Debt
Capital
General
Revenue
Service
Projects
ASSETS
Current assets:
Equity in central treasury
S 60,325
$ 337,773
S 91,705
S 266,463
Temporary investments
4,679,257
1,501,163
6,043,724
4,651,388
Other cash and cash equivalents
-
-
-
-
Investment in deferred compensation plan
-
-
-
-
Receivables:
State of Alaska
42,597
1,366,663
622,388
126,182
Federal Government
6,990
16,034
-
-
Property taxes, net of atlowance of $17,667
70,617
-
-
-
Land sates contracts, due within one year
-
300,000
-
-
other receivables, net
89,978
284,737
59,990
237,038
Due from other funds
679,453
3,244,634
100,000
78,391
Inventories
-
172,749
-
-
Prepaid expenses
40,319
43,143
-
-
Assets whose use is limited:
By Borough
-
-
-
Under malpractice funding arrangement -
held by trustee
-
-
-
-
By donor for specific purpose
-
-
-
-
Equity in central treasury
-
-
-
-
Temporary investments
-
-
-
-
Interest receivable
-
-
-
-
Land sales contracts receivable, due after
one year
-
1,294,823
-
-
Deposit on capital lease
-
-
-
Amount available to service long-term debt in
Debt Service fund
-
-
-
-
Amount to be provided to service long -term debt
-
-
-
-
Fixed assets in service
-
-
-
-
Accumulated depreciation
-
-
-
-
Construction work in progress
-
-
-
-
Total assets
$5,669,536
$8,561,719
56,917,807
$5,359,462
The accompanying notes are an integral part of these financial statements.
2
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Proprietary
Fiduciary
Totals
Fund Type
Fund Type
Account
Groups
(Memorarxk n Only)
Agency
General
General Long -
Enterprise
Fund Type
Fixed Assets
Term Debt
1992
1991
$ 748,196
E
E
$ -
$ 1,504,462
$ 1,605,644
16,875,532
16,314,695
34,616
142,622
-
177,238
1,374,086
-
837,084
-
837,084
710,336
-
-
2,157,830
1,513,114
-
-
23,024
41,924
-
-
-
-
70,617
42,078
300,000
195,510
2,227,334
440
-
-
2,899,517
2,360,629
200,000
-
-
-
4,302,478
2,387,785
209,878
-
-
-
382,627
364,744
142,464
-
-
225,926
97,546
'
-
-
-
658,377
624,899
-
-
624,899
257,990
10,051
-
-
10,051
73,376
17,190
-
-
17,190
33,946
505,674
-
-
505,674
500,000
1,630
-
-
-
1,630
16,556
-
-
-
1,294,823
1,729,586
'
-
-
67,976
-
-
6,747,807
6,747,807
7,475,608
5,898,934
5,898,934
6,708,518
25,000,820
-
77,339,251
-
102,340,071
101,447,328
(5,833,832)
-
-
(5,833,832)
(4,847,882)
69,261
-
1,801,632
-
1,870,893
1,525,507
$23,958,181
$980,146
$79,140,883
812,646,741
$143,234,475
$142,654,977
3
EXHIBIT 1
KODIAK ISLAND BOROUGH
COMBINED BALANCE SHEET - ALL FUND TYPES
AND ACCOUNT GROUPS
JUNE 30, 1992
The accompanying notes are an integral part of these financial statements.
4
Governmental
Fund Types
Special
Debt
Capital
General
Revenue
Service
Projects
LIABILITIES AND
FUND EQUITIES
Liabilities:
Accounts payable
E 126,636
$ 812,811
$ -
$ 34,795
Retainage payable
-
-
-
55,593
Accrued compensation
-
833,433
-
-
Payroll taxes and employee benefits
45,655
1,005,654
-
-
Other accrued liabilities
3,376
412,368
-
-
Customer deposits
-
300
-
-
Deferred and unrealized revenues
-
1,705,249
-
483,368
Deferred compensation
-
-
-
-
Due to other funds
3,512,292
227,586
170,000
257,600
Due to City of Kodiak
-
-
-
-
Due to student organizations
-
Current portion of capital
Lease obligation
-
-
Capital lease obligation
-
-
Accrued annual leave
-
-
Environmental Protection Agency loan
-
-
-
-
General obligation bonds payable
-
-
-
-
Total liabilities
3,687,959
4,997,401
170,000
831,356
Fund equities and other credits:
Contributions in aid of construction
-
-
-
-
Investment in general fixed assets
-
-
Retained earnings:
Temporarily restricted
-
-
-
-
Unreserved
-
-
-
-
Fund balance:
Reserved:
Encumbrances
-
84,642
-
975,171
Fuel inventory
-
158,145
-
-
Health insurance
-
-
-
-
PL -874
-
77,016
-
-
Prepaid expenses
40,319
43,143
-
-
Unreserved:
Designated for subsequent year
expenditures
1,941,258
261,669
6,747,807
1,560,743
Undesignated
-
2,939,703
-
1,992,192
Total fund equities
and other credits
1,981,577
3,564,318
6,747,807
4,528,106
Total liabilities, fund
equities and other credits
S 5,669,536
$ 8,561,719
$ 6,917,807
S 5,359,462
The accompanying notes are an integral part of these financial statements.
4
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
EXHIBIT 1 (Continued)
Proprietary
Fiduciary
Totals
Fund Type
Fund Type
Account
Groups
(Memorandum Only)
Agency
General
General Long -
Enterprise
Fund Type
Fixed Assets
Term Debt
1992
1991
$ 375,262
S 1,886
S
$ -
S 1,351,390
$ 945,805
-
-
55,593
24,170
407,913
-
-
-
1,241,346
752,624
1,051,309
1,146,099
50,000
-
-
-
465,744
940,210
23,949
-
-
-
24,249
34,484
-
-
2,188,617
2,629,207
837,084
-
837,084
710,336
135,000
-
-
4,302,478
2,252,785
24,480
-
-
-
24,480
-
-
141,176
-
141,176
117,296
82,189
-
-
82,189
24,922
387,373
-
-
387,373
114,232
-
-
-
191,327
191,327
167,878
-
-
260,414
260,414
281,248
-
-
-
12,195,000
12,195,000
13,735,000
1,486,166
980,146
12,646,741
24,799,769
23,876,296
19,109,292
-
-
19,109,292
19,516,272
-
-
79,140,883
79,140,883
78,729,928
10,051
-
-
-
10,051
-
3,352,672
-
-
-
3,352,672
3,525,740
-
-
-
-
1,059,813
788,408
-
-
-
-
158,145
50,345
'
-
200,000
77,016
154,032
-
83,462
69,340
-
-
-
10,511,477
10,981,446
-
-
-
-
4,931,895
4,763,170
22,472,015
-
79,140,883
118,434,706
118,778,681
$23,958,181
$980,146
$79,140,883
$12,646,741
$143,234,475
$142,654,977
it
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES.
EXPENDITURES. TRANSFERS AND CHANGES IN
FUND BALANCE - ALL GOVERNMENTAL FUND
TYPES
.
YEAR ENDED JUNE 30, 1992
Special
Revenues:
General
Revenue
Property taxes
S 3,537,851
S 418,706
Intergovernmental:
State sources
2,443,109
16,689,625
Federal sources
7,230
1,697,732
�
Land sale proceeds
-
431,843
Insurance proceeds
-
-
Severance taxes
530,083
-
Asbestos settlement
-
Roof claim settlement
-
-
Licenses, permits, fees and other local revenue
212,936
770,963
Investments and property
367,551
427.004
Total revenues
7,098.760
20.435,873
'
Expenditures:
Current:
Borough Assembly
124,650
-
'
Mayors department
159,292
-
Clerk's department
204,818
-
Legal department
184,707
-
Finance department
307,954
-
Date services
229,521
-
Assessment department
236,022
-
Engineering facilities department
88,482
-
Community development department
354,147
32,970
Building inspector
78,288
-
Resource management
78,895
-
Switchboard /word processing
80,986
-
Community & Regional Affairs liaison
-
Economic development
45,946
-
General administration
318,332
747,054
Emergency preparedness
19,328
-
Educational support
27,510
18,353,975
'
Health and sanitation
478,324
1,962,631
Culture and recreation
190,700
-
Oil spill cleanup
-
66,544
Capital improvements:
'
Schools
-
Service district maintenance
-
211,619
General
-
37,000
Debt service:
Principal
-
-
,
Interest
-
-
Fiscal agent fees
-
-
Refunding bond issuance costs
-
-
Other
-
-
'
Total expenditures
3,207,902
21,411,793
Excess (deficiency) of revenues over (under) expenditures
3,890,858
(975,920
Other financing sources (uses):
Operating transfers in
81,670
3,511,457
Proceeds of refunding bonds
-
-
Operating transfers out
(3,765,701)
(2,680,148)
Payment to refunded bond escrow agent
-
-
'
Net other financing sources (uses)
(3,684,031
831.309
Excess (deficiency) of revenues and other financing sources
over expenditures and other financing uses
206,827
(144,611)
'
Fund balance at beginning of year
1,774,750
3,703,965
Adjustment to reserve for fuel inventory
-
4,964
Fund balance at end of year
$ 1,981,577
S 3,564,318
!I
'I
The accompanying notes are an integral part of these
financial statements.
6
EXHIBIT 2
Totals
(Memorarxlm Only)
Debt Capital
Service Projects 1992 1991
E -
S -
S 3,956,557
S 3,163,663
-
799,971
19,932,705
21,207,220
-
1,704,962
2,019,397
-
-
431,843
581,519
-
-
-
10,612
-
-
530,083
-
-
47,196
47,196
216,710
-
631,095
631,095
-
-
25,505
1,009,404
992,729
347,882
217,309
1.359,746
1,656,900
347,882
1,721,076
29,603,591
29,848,750
-
-
124,650
127,479
-
-
159,292
207,326
-
-
204,818
235,235
-
-
184,707
143,481
-
-
307,954
313,393
-
-
229,521
197,025
-
-
236,022
215,401
-
-
88,482
149,898
-
-
387,117
434,762
-
-
78,288
78,218
-
-
78,895
75,013
-
-
80,986
57,398
-
-
-
3,171
-
45,946
49,854
-
-
1,065,386
1,226,344
-
-
19,328
3,081
-
-
18,381,485
17,525,084
-
-
2,440,955
2,267,893
-
-
190,700
190,700
-
-
66,544
409,989
-
1,308,945
1,308,945
1,038,556
-
-
211,619
140,548
-
1,349,137
1,386,137
1,167,188
1,685,833
-
1,685,833
1,595,833
843,656
-
843,656
947,381
24,827
-
24,827
71,974
136,273
-
136,273
-
4,162
-
4.162
46
2,694.751
2,658.082
29,972.528
28,872,271
(2,346,869
(937,006
(368.937
976,479
2,204,252
1,512,694
7,310,073
11,096,881
4,875,000
-
4,875,000
-
(721,457)
(100,000)
(7,267,306)
(11,086,878)
(4,738.727
-
(4,738,727
-
1.619,068
1,412.694
179.040
10,003
(727,801)
475,688
(189,897)
986,482
7,475,608
4,052,418
17,006,741
16,055,851
-
-
4.964
(35,592
56,747,807
54,528,106
516,821,808
517,006,741
7
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES, I
f
EXPENDITURES, TRANSFERS AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL -
GENERAL FUND, SPECIAL REVENUE FUND AND DEBT SERVICE FUND
YEAR ENDED JUNE 30, 1992
General Fund
Variance -
Favorable
Budget Actual (Unfavorable)
Revenues:
Property taxes
Intergovernmental:
State sources
Federal sources
Land sale proceeds
Severance taxes
Licenses, permits, fees and other local revenue
Investments and property
Total revenues
Expenditures:
Current:
Borough Assembly
Mayor's department
Clerk's department
Legal department
Finance department
Data services
Assessment department
Engineering facilities department
Community development department
Building inspector
Resource management
Switchboard /word processing
Community & Regional Affairs liaison
Economic development
General administration
Emergency preparedness
Educational support
Health and Sanitation
Culture and recreation
Oil spill cleanup
Capital improvements:
Service District maintenance
General
Debt service:
Principal
Interest
Fiscal agent fees
Refunding bond issuance costs
Other
Total expenditures
Excess (deficiency) of revenues over (under) expenditures
Other financing sources (uses):
Operating transfers in
Proceeds of refunding bonds
Operating transfers out
Payment to refunded bond escrow agent
Net other financing sources (uses)
Excess (deficiency) of revenues and other financing sources
over expenditures and other financing uses
Fund balance at beginning of year
Adjustments to reserve for fuel inventory
Fund balance at end of year
S 3,489,570 $ 3,537,851 S 48,281
2,571,800
2,443,109
(128,691)
3,600
7,230
3,630
562,250
530,083
(32,167)
213,820
212,936
(884)
360,000
367,551
7,551
7,201,040 7,098,760 (102,280)
135,300
124,650
10,650
167,340
159,292
8,048
220,460
204,818
15,642
161,100
184,707
(23,607)
'
316,080
307,954
8,126
240,300
229,521
10,779
243,450
165,360
236,022
88,482
7,428
76,878
381,920
354,147
27,773
75,000
78,288
(3,288)
81,670
78,895
2,775
86,200
80,986
5,214
54,200
45,946
8,254
321,920
318,332
3,588
32,000
19,328
12,672
37,500
27,510
9,990
483,750
478,324
5,426
195,700
190,700
5,000
i
3,399,250
3,207,902
191,348
'
3,801,790
3,890,858
89,068
81,670
81,670
-
9
(3,883,460)
(3,765,701)
117,759
(3,801,790)
(3,684,031)
117,759
S -
206,827
S 206,827
1,774,750
,
$ 1,981,577
The accompanying notes are an integral part of these financial statements.
8 1
EXHIBIT 3
Special Revenue Funds
Debt Service Funds
Variance -
Variance -
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
S 391,930
S 418,706
S 26,776
E -
-
16,665,097
16,689,625
24,528
-
-
-
2,296,156
1,697,732
(598,424)
-
-
-
370,000
431,843
61,843
-
-
-
1,011,550
770,963
(240,587)
-
-
-
586,075
427,004
(159,071)
350,000
347,882
(2,118)
21,320,808
20,435,873
(884,935)
350,000
347,882
(2,118)
32,950
32,970
(20)
1,446,665
747,054
699,611
-
-
18,992,165
18,353,975
638,190
-
2,118,764
1,962,631
156,133
200,000
66,544
133,456
-
-
-
265,390
211,619
53,771
-
-
-
37,000
(37,000)
-
-
-
-
-
1,650,840
1,685,833
(34,993)
970,000
843,656
126,344
-
100,000
24,827
75,173
-
-
136,273
(136,273)
-
-
-
279,160
4,162
274,998
23,055,934
21,411,793
1,644,141
3,000,000
2,694,751
305,249
(1,735,126)
(975,920)
759,206
(2,650,000)
(2,346,869)
303,131
3,610,000
3,511,457
(98,543)
2,155,000
2,204,252
49,252
-
4,875,000
4,875,000
(2,620,290)
(2,680,148)
(59,858)
(720,000)
(721,457)
(1,457)
-
-
-
(4,738,727)
(4,738,727)
989,710
831,309
(158,401)
1,435,000
1,619,068
184,068
S (745,416)
(144,611)
S 600,805
$(1,215,000)
(727,801)
S 487,199
3,703,965
7,475,608
4,964
-
S 3,564,318
S 6,747,807
9
Continued
EXHIBIT 3 (Continued)
KODIAK ISLAND BOROUGH
t
COMBINED STATEMENT OF
REVENUES,
EXPENDITURES, TRANSFERS AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL -
GENERAL FUND, SPECIAL REVENUE FUND
AND DEBT SERVICE
FUND
YEAR ENDED JUNE 30,
1992
'
Totals (Memorandum
Only)
Variance -
Favorable
Budget
Actual
(Unfavorable)
Revenues:
Property taxes
S 3,881,500
S 3,956,557
S 75,057
Intergovernmental:
, 2
State sources
19,236,897
19,132,734
(104,163)
Federal sources
2,299,756
1,704,962
(594,794)
E
Land sale proceeds
370,000
431,843
61,843
Severance taxes
562,250
530,083
(32,167)
Licenses, permits, fees and other local revenue
1,225,370
983,899
(241,471)
,
Investments and property
1,296,075
1,142,437
(153,638)
Total revenues
28,871,848
27,882,515
(989,333)
Expenditures:
Current:
`
Borough Assembly
135,300
124,650
10,650
Mayor's department
167,340
159,292
8,048
Clerk's department
220,460
204,818
15,642
Legal department
161,100
184,707
(23,607)
'
Finance department
316,080
307,954
8,126
Data services
240,300
229,521
10,779
Assessment department
243,450
236,022
7,428
Engineering facilities department
165,360
88,482
76,878
'
Community development department
414,870
387,117
27,753
Building inspector
75,000
78,288
(3,288)
Resource management
81,670
78,895
2,775
Switchboard /word processing
86,200
80,986
5,214
Community & Regional Affairs aison
liaison
-
-
-
'
Economic development
54,200
45,946
8,254
General administration
1,768,585
1,065,386
703,199
I
Emergency preparedness
32,000
19,328
12,672
Educational support
19,029,665
18,381,485
648,180
Health and Sanitation
2,602,514
2,440,955
161,559
Culture and recreation
195,700
190,700
5,000
Oil spill cleanup
200,000
66,544
133,456
Capital improvements:
Service District maintenance
265,390
211,619
53,771
General
-
37,000
(37,000)
,
Debt service.
Principal
1,650,840
1,685,833
(34,993)
Interest
970,000
843,656
126,344
Fiscal agent fees
100,000
24,827
75,173
'
Refunding bond issuance costs
-
136,273
(136,273)
Other
279,160
4,162
274,998
4
h
Total expenditures
29,455,184
27,314,446
2,140,738
Excess (deficiency) of revenues over (under) expenditures
(583,336)
568,069
1,151,405
,
Other financing sources (uses):
Operating transfers in
5,846,670
5,797,379
(49,291)
Proceeds of refunding bonds
-
4,875,000
4,875,000
Operating transfers out
(7,223,750)
(7,167,306)
56,444
Payment to refunded bond escrow agent
-
(4,738,727)
(4,738,727)
Net other financing sources (uses)
(1,377,080)
(1,233,654)
143,426
Excess (deficiency) of revenues and other financing sources
over expenditures and other financing uses
$(1,960,416)
(665,585)
S 1,294,831
Fund balance at beginning of year
Adjustments for fuel inventory
12,954,323
4,964
to reserve
i
Fund balance at end of year
$12,293,702
The accompanying notes are an integral part
of these financial statements.
10
,
EXHIBIT 4
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF REVENUES,
EXPENSES, TRANSFERS AND CHANGES
IN RETAINED EARNINGS
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
The accompanying notes are an integral part of these financial statements.
11
1992
1991
Revenues:
Water sales
E 352,480
S 208,129
Sewer service charges
394,028
265,031
Refuse collection
1,179,430
1,199,782
Sanitary services user fees
250,707
265,624
Patient and resident revenues
8,450,653
6,420,280
Installation charges
1,315
6,365
Other
240,353
159,8
Total revenues
10,868,966
8,525,024
Operating expenses:
Personnel services
5,211,999
4,560,794
Waste collection
1,046,887
1,005,841
Purchased water and sewer treatment
522,657
355,196
Contracted services
1,160,785
1,096,364
Repairs and maintenance
329,655
260,229
Depreciation
843,048
723,576
Installation costs
-
67,680
Bad debt
604,561
455,067
Supplies
831,365
752,104
Interest
27,592
8,590
General administrative
102,419
101,400
Lawsuit settlement
-
669
Other
621,254
660,150
Total operating expenses
11,302,222
10,716,882
Operating loss
(433,256)
(2,191,858)
Nonoperating revenues (expenses):
Interest income
94,333
240,892
State revenue sharing
134,460
134,460
Loss on disposal of equipment
(2,554)
(938)
Donor restricted gifts
11,774
93,249
238,013
467,663
Loss before operating transfers
(195,243)
(1,724,195)
Operating transfers in
193,000
-
Operating transfers out
(245,694)
(10,000)
(52,694)
(10,000)
Net Loss
(247,937)
(1,734,195)
Amortization of contributions in aid of construction
406,979
383,040
Increase (decrease) in retained earnings
159,042
(1,351,155)
Adjustment for change in hospital year end
(322,059)
-
Retained earnings at beginning of year
3,525,740
4,876,895
Retained earnings at end of year
$ 3,362,723
S 3,525,740
The accompanying notes are an integral part of these financial statements.
11
EXHIBIT 5 '
KODIAK ISLAND BOROUGH
COMBINED STATEMENT OF CASH FLOWS
PROPRIETARY FUND TYPE - ENTERPRISE FUNDS
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
i
The accompanying notes are an integral part of these financial statements.
12 '
1992
1991
Operating loss
S (433,256
S(2,191,858
Adjustments to reconcile operating loss to
net cash provided by operating activities:
Depreciation
843,048
723,576
Change in provision for uncollectible accounts
604,560
356,000
Changes in assets and liabilities:
Accounts receivable -
Customers and patients
(174,903)
(809,056)
Other
76,618
48,394
Prepaid expenses
(8,264)
(13,751)
Inventories at cost
(15,874)
22,584
Due from other funds
(204,400)
-
Accounts payable
(190,911)
70,167
Customer deposits
(10,235)
19,743
Estimated third party payor settlements
(7,795)
(47,644)
Accrued expenses
(52,756)
(59,763)
Due to City of Kodiak
24,480
-
other accrued liabilities
(669,891
708,851
Total adjustments
213,677
1,019,101
Net cash used for operating activities
(219,579
(1,172.757
Cash flows from noncapital financing activities:
State of Alaska, Revenue Sharing payments received
134,460
159,460
Operating transfers out to other funds
(52,694
(10,000
Net cash provided by noncapital financing activities
81,766
149,460
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
(208,775)
(146,142)
Proceeds from sale of equipment
560
-
Principal payments made on capital lease
(101,834)
(12,485)
Receipt of gifts restricted by donor for capital purchases
11,774
93,249
Deposit made on capital lease
-
(67,976
Net cash used for capital and related financing activities
(298,275
(133,354
Cash flows from investing activities:
Change in assets whose use is limited:
By Borough
-
109,190
Under malpractice funding arrangements
(295,786)
(257,990)
By donor for specific purpose
(904)
(73,376)
Interest and dividends on investments
109,259
240,129
Net cash provided by investing activities
(187,431
17.953
Net change in cash and cash equivalents
(623,519)
(1,138,698)
Cash and cash equivalents at beginning of year
2,098,060
3,236,758
Adjustment for hospital change in year -end
(168,866
-
Cash and cash equivalents at end of year
$1,305.675
S 2,098,060
i
The accompanying notes are an integral part of these financial statements.
12 '
KODIAK ISLAND BOROUGH
NOTES TO FINANCIAL STATZNZNTS
JUNE 30, 1992
NOTE 1 - SUNLIARY 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 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 and Care Center: The Borough owns the Kodiak Island
' Borough Hospital and Care Center (Hospital) and related furnishings. The Borough has
contracted the Hospital's operating activities to the Lutheran Health Systems
Management Company, a North Dakota company. By terms of that agreement, operating
losses sustained (as contractually defined), if any, are the ultimate responsibility
' of the Borough. Annual contributions, as well as direct payment for equipment and
plant repairs, are made by the Borough to subsidize the Hospital's financial
operations. These contributions and direct payments are recorded as expenditures of
the Borough's General Fund or Capital Projects Funds. The 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 also has a June 30 year end, although prior
to June 30, 1991, the Hospital had a December 31 year end. See further discussion on
' the Hospital's year end change at Note 16.
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
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.
13
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 fund categories as follows:
Governmental Fund Tvves
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 - 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.
Proprietary Fund Type
Enterprise Funds - 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.
Enterprise Funds are 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 Enterprise Fund operating statement presents
increases (revenues) and decreases (expenses) in net total assets.
Depreciation of all exhaustible fixed assets used by the Enterprise Funds is charged
,
as an expense against their operations on a straight -line basis over the following
estimated useful lives:
'
Unclassified utility plant in service 50 years
Hospital building and improvements 25 -30 years
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.
Type
,
Fiduciary Fund
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.
14
'
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 are
' recorded as expenditures of the various Borough funds at the time of purchase and are
subsequently capitalized in the General Fixed Assets Account Group. Such assets
include land, buildings, equipment, furniture and other related assets. Public domain
(infrastructure) general fixed assets consisting of certain improvements other than
' buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage
systems and lighting systems, are not capitalized. No depreciation has been provided
on general fixed assets.
' All fixed assets are valued at historical cost or estimated historical cost if actual
historical cost is not available. Donated fixed assets are valued at their estimated
fair value on the date donated.
' General Long -Term Debt - Long -term liabilities expected to be financed from
Governmental Fund Types are accounted for in the General Long -Term Debt Account Group,
not in the Governmental Fund Types. 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.
B. Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses are recognized
in the accounts and reported in the combined financial statements. Basis of accounting
relates to the timing of the measurements made, regardless of the measurement focus
applied.
Governmental Fund Types are accounted for using the modified accrual basis of
accounting. Expenditures are generally recognized under the modified accrual basis of
accounting when the related fund liability is incurred. An exception to this general
rule is principal and interest on general long -term debt which is recognized when due.
' Prepayment of insurance and similar services extending over more than one year 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. The
Proprietary Fund Type (Enterprise Fund) is accounted for using the accrual basis of
accounting, wherein, revenues are recognized when earned and expenses are recognized
when 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.
I 15
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 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.
Severance Taxes
Severance taxes are based on the amount and value of natural resources severed from the
environment. Types of resources taxed include seafood, gravel and mineral resources,
and timber. Severance tax returns are sent to the appropriate companies (as determined
by the Borough assessor), and are returned to the Borough Finance Department. The
returns are filed quarterly, and are due by the end of the month following the
quarter's end. Borough severance tax revenues are recognized in the fiscal year in
which they become measurable and available, generally when the return is filed and
payment is received.
To ensure accuracy of amounts of fish and other seafood caught, the Borough compares
the amount of catch reported on the severance tax returns to amounts reported to the
State of Alaska Department of Revenues and the State of Alaska Department of Fish &
Game. For rock, gravel, and timber, the assessing office periodically does a site
review of the mining /logging area to determine the reasonableness of gross amounts
reported on the severance tax returns.
Intergovernmental Revenue
State of Alaska shared revenues, State of Alaska municipal assistance, State
education - related entitlement programs and State levied taxes (the proceeds of which
are distributed to local governments) are recorded in the fiscal year to which they
relate, including accrual at year end if final payments due are measurable and received
within approximately two to three months after year end.
State of Alaska and Federal government cost reimbursable grants and contracts are
recorded to the extent of allowable expenditures in the period in which the
expenditures were incurred.
Revenue from Investments and Property
Amounts earned on investment of available cash balances and the rental of building
facilities are recorded in the period to which they relate, including accrual at year
end of the balance due.
Land Sales Proceeds and Other Local Revenues ' !'
Amounts received pursuant to land sale contracts are recorded on the cash basis.
Noncurrent portions of long -term receivables due to Governmental Fund Types are
reported on their balance sheets, in spite of their spending measurement focus. ' !,
Special reporting treatments are used to indicate, however, that they should not be
considered available spendable resources since they do not represent net current
16 1
' assets. Recognition of Governmental Fund Type revenues represented by noncurrent
receivables is deferred until they are paid.
Other local revenues are recorded on a basis consistent with their nature in relation
to measurement and availability standards.
C. Budgets and Budgetary Accounting
Borough
The Borough follows these procedures in establishing the budgetary data reflected in
the combined financial statements:
' 1. The Mayor must submit to the Borough Assembly by April 30 a proposed
operating budget for the fiscal year commencing the following July 1. The
operating budget includes proposed expenditures and the means of financing
them.
' 2. Public hearings are conducted by the Borough Assembly to obtain taxpayer
comments.
' 3. By June 10, the budget is legally enacted through passage of an ordinance by
Borough Assembly action. If the Borough Assembly fails to pass an ordinance,
the budget submitted by the Mayor becomes the adopted budget.
' 4. Amendments to the budget can occur anytime during the fiscal year through the
Borough Assembly or administrative action. Generally, the following actions
are required at the level of the particular change:
' (a) All new appropriations are authorized by an appropriation ordinance
that amends the annual budget ordinance.
(b) A resolution of the Borough Assembly is required to move (appropriate)
amounts between departments and projects.
(c) The administration is authorized and directed by the Borough Assembly
to effect the necessary line item changes within the limits established
' by Items (1) and (2) above by project or department to properly
monitor, account, and report receipts and expenditures.
5. Expenditures may not legally exceed appropriations at the following levels:
General Fund - department level; Capital Projects Funds - project level; all
other funds - fund level.
6. All funds, except Capital Projects Funds and the Oil Spill Clean Up Fund are
' budgeted on an annual basis encompassing a fiscal year. Budgets of 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.
' 7. Appropriations lapse at year end to the extent that they have not been
expended for all funds except Capital Projects Funds and the Oil Spill Clean
Up Fund, which lapse at project completion.
8. Budgets adopted by the Borough Assembly are in accordance with generally
accepted accounting principles.
' 9. Additional appropriations for certain funds were enacted during the year.
School District
Annual budgets are adopted by the School Board for all revenues, expenditures and
interfund transfers. Budgets are prepared and presented on the modified accrual basis
of accounting. Pursuant to Alaska Statutes, the adopted budget is submitted to the
Borough Assembly for review and approval. The Borough Assembly is required to approve
the School District budget in total only and, by ordinance, appropriate the necessary
resources no later than April 30 of the current fiscal year.
17
n
The School Board retains line item authority once the annual local appropriation is set
by the Borough Assembly. In the year ended June 30, 1992, there were three formal
budget revisions to adjust the revenues and expenditures to available resources and ,
program needs.
Hospital
Hospital operations are not legally required to be budgeted.
D. Assets, Liabilities and Fund Equity
INTERFUND TRANSACTIONS
Transactions that would be treated as revenues, expenditures or expenses if they
involved organizations external to the Borough are similarly treated if they occur
between the fund types. Reimbursements from one fund to another are treated as
expenditures or 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.
INVENTORIES
Borough
Expendable operating supplies of the Borough are accounted for using the purchase
method and, at June 30, 1992, there were no significant amounts of such items.
School District
The consumption method is used to account for the inventories of teaching, maintenance
and foods supplies. These inventories are valued at the lower of average cost or
market and beginning in fiscal year 1992 available fund balance was reserved for all
inventories. Fuel inventory is accounted for by the purchase method and valued at cost
(first -in, first -out).
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.
18 1
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.
E. Cash Flows
All highly liquid investments (including restricted assets) with original maturities
of three months or less are considered cash equivalents for purposes of the statement
of cash flows. This includes equity in central treasury and other cash and cash
equivalents and also temporary investments and equity in central treasury which are
classified as "assets whose use is limited."
F. Reclassification
Certain 1991 balances (memorandum only) have been reclassified to conform to the
current year presentation.
NOTE 2 - CASH AND TEMPORARY INVESTMENTS
Cash balances of most Borough funds are pooled in a central treasury. Each fund type's
portion of this pool is displayed on the combined balance sheet as "Equity in central
treasury ". In addition, investments are separately held by several of the Borough's
funds. Investments, other than the investment in the deferred compensation plan which
is carried at market value, are carried at cost.
Deposits
At June 30, 1992, the carrying amount of the Borough's deposits was $1,693,700 and the
bank balance was $2,625,570. The insured and collateral status of the year end bank
balance was as follows:
Status Amount
Covered by federal depository insurance or by collateral
held by the Borough's agent in the Borough's name $1,054,269
Uninsured and uncollateralized 1,571,301
Total deposits S2,625.570
Investments
Statutes authorize the Borough to invest in obligations of the United States, the State
of Alaska and its political subdivisions, savings accounts, certificates of deposit,
banker's acceptances, repurchase agreements and such other legal security instruments.
The Borough Code requires all investments to be collateralized and /or insured.
Collateral pledged on investments is required to be held for the Borough by a third
party bank.
In accordance with Governmental Accounting Standards Board Statement No. 3 (GASB 3)
investments are categorized as follows: Category 1 includes investments that are
insured, or registered or for which the securities are held by the Borough or its agent
in the Borough's name. Category 2 includes uninsured and unregistered investments for
which the securities are held by the counterparty's trust department or agent in the
Borough's name. Category 3 includes uninsured and unregistered investments for which
the securities are held by the counterparty, or by its trust department or agent but
not in the Borough's name.
Cateaory
1
Repurchase agreements $ 4,000,000
U.S. Government Securities 13,854,725
$1785
ICMA - Deferred Compensation Plan
Money Market Account
Total Investments
Carrying
2 3 Amount
S -
$ S 4,000,000
13.854.725
S S - 17,854,725
837,084
166.621
518,8 0
19
Market
Value
S 4,016,013
13.938.236
17,954,249
837,084
166.621
$18.95
The above deposits of $1,693,700 and investments of $18,858,430 totalling $20,552,130, I
are reported under the following captions in the combined financial statements:
Equity in central treasury $ 1,504,462
Temporary investments 16,875,532
Other cash and cash equivalents 177,238
Investment in deferred compensation plan 837,084
Assets whose use is limited:
Under malpractice funding arrangement held by trustee 624,899
By donor for purchase of equipment 10,051
Equity in central treasury 17,190
Temporary investments 505.674
Total deposits and investments $20.552,130
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, if any, sustained
by the Hospital.
The Borough received shared revenue from the State of Alaska in the amount of $124,533,
required to be passed through to the Hospital. This amount was recorded as revenue by
the Hospital.
NOTE 5 - RETIREMENT COMMITMENTS
As of June 30, 1992, substantially all employees of the Borough and School District
participate in either the Alaska Public Employees' Retirement System (PERS, an agent
multiple - employer PERS) or the Alaska Teachers' Retirement System (TRS, a cost - sharing,
multiple - employer PERS). Borough personnel and School District classified personnel
(except those working less than fifteen hours per week) participate in PERS. School
District certificated personnel participate in TRS. Both systems are statewide defined
benefit retirement plans, administered by the State of Alaska.
Plan Descriptions and Provisions
Public Employees' Retirement System (PERS
Employees hired prior to July 1, 1986 with five or more years of credited service are
entitled to annual pension benefits beginning at normal retirement age 55 or early
retirement age 50. For employees hired after June 30, 1986, the normal and early
retirement ages are 60 and 55, respectively. The normal pension benefit is equal to
2% of the member's three highest average monthly compensation for the first ten years
of service, 2 -1/4% for the second ten years of service and 2 -1/2% for the third ten
years of service. All service earned prior to July 1, 1986 will be calculated using
the 2% multiplier. Employees with 30 or more years of credited service may retire at
any age and receive a normal benefit. The system also provides death and disability
benefits and major medical benefits.
Under State law, covered employees are required to contribute 6.75% of their annual
salary to the System and the Borough contributes the amount actuarially required in
addition to employee contributions to finance the benefits of the system.
20
Teachers' Retirement Svstem (TRS
The Teachers' Retirement System of Alaska is a joint contributory retirement system to
provide benefits for teachers of the State of Alaska. All the School District's
' certificated employees are participants in TRS. Membership in TRS is compulsory for
each certificated elementary or secondary teacher or other certificated personnel who
are employed on a full -time or part -time basis in positions that require teaching
certificates as a condition of employment.
' Employees with fifteen years or more of credited service are entitled to pension
benefits beginning at normal retirement age (55) equal to 2% of their highest
three -year average monthly compensation for each year of service. The Plan permits
early retirement at age 50. Employees may elect to receive their pension benefits in
the form of a joint or survivor annuity. Effective January 1, 1987, a married member
who retires must receive his benefit in the form of a joint and survivor annuity unless
the member's spouse consents to another form of benefit. Minimum benefits for
employees eligible for retirement are $25 per month for each year of credited service.
' In addition, major medical benefits are provided. TRS also provides death and
disability benefits.
Under State law, covered employees are required to contribute 8.65% of their base
' salary. The School District is required to contribute the amount actuarially needed
in addition to member contributions to finance the benefits of the System.
Funding Status and Progress
The pension benefit obligation is a standardized disclosure measure of the present
value of pension benefits, adjusted for the effects of projected salary increases and
step -rate benefits, estimated to be payable in the future as a result of employee
service to date. The measure is intended to help users assess the funding status of
the System on a going- concern basis, assess progress made in accumulating sufficient
assets to pay benefits when due, and make comparisons among employers. The measure is
the actuarial present value of credited projected benefits and is independent of the
funding method used to determine contributions to the System.
The pension benefit obligation was computed as part of an actuarial valuation as of
June 30, 1991 (latest available) . Significant actuarial assumptions used in the
valuation include (a) a rate of return on the investment of present and future assets
of 9 percent per year compounded annually, (b) projected salary increases of 6.5
percent a year for the first five years of employment and 5.5 percent per year
thereafter and (c) health cost inflation of 9 percent per year.
The pension benefit obligation of PERS and TRS as calculated in the most recent
actuarial valuation is as follows ($ in thousands):
PERS TRS (1)
School All
Borough District Employers
Pension benefit obligation:
Retirees and beneficiaries currently receiving
benefits and terminated employees not yet
receiving benefits $2,410 $4,264 $1,056,453
Current employees:
' Accumulated employee contributions including
allocated investment earnings
Employer- financed vested
Employer- financed nonvested
' TOTAL PENSION BENEFIT OBLIGATION
Net assets available for benefits, valued on a
' three year average ratio between market and
book values of the System's assets except that
fixed income investments are valued at book
value
' UNFUNDED PENSION BENEFIT OBLIGATION
597 949 293,136
1,463 3,094 598,527
185 555 127,289
4,655 8,862 2,075,405
4,583 8,273 1,779,579
72) 589) S (295.826
21
(1) The TRS system does not make separate measurements of assets and pension
benefit obligation for individual employers. Amounts for TRS represent the
system as a whole. The School District's actuarially determined contribution
was 1.6% of the total current year actuarially determined contribution
requirements for all employers.
Actuarially Determined Contribution Requirements and Contributions Made
The funding policy provides for actuarially determined periodic contributions at rates
that fund each participant's benefits under the plan as they accrue. The contribution
rate for normal cost is determined using the projected unit credit actuarial funding
method. The unfunded accrued benefit liability is amortized over twenty -five years.
Actuarial funding surpluses are amortized over five years.
The significant actuarial assumptions used to compute the actuarially determined
contribution requirement are the same as those used to compute the pension benefit
obligation.
The Systems have an actuarial valuation performed annually (as of June 30) which
determines the contribution rates for the year ended two years subsequent to the
valuation date. The contributions to the Systems for fiscal year 1992 were made in
accordance with actuarially determined requirements computed through an actuarial
valuation performed as of June 30, 1990. The contributions ($ in thousands) consisted
of the following:
PERS PERS
Borough School District TRS
Percent of Percent of Percent of
Covered Covered Covered
Amount Payroll Amount Payroll Amount Payroll
Covered payroll - $2.429 100.00 % 52.648 100.00 % $8.657 100.00 X
Contributions -
Normal cost -
Total contributions paid $ 455 18.75 % $ 496 18.75 % $1,612 18.62 %
Amortization of unfunded liability
(funding surplus) (42 (1.75 (99 (3.75 164 1.90
TOTAL $ 413 17.00 % S 397 15.00 % $1.776 20.52 %
Required contributions -
Employer $ 249 10.25 % $ 218 8.25 % $1,028 11.87 %
Employee 164 6.75 179 6.75 748 8.65
TOTAL S 413 17.00 % $ 397 15.00 % $1.776 20.52 %
In addition to the required TRS contributions noted above, the School District made
supplemental and arrearage payments of $42,062 during the year.
Total current year payroll was $14,401,305.
Valuation of Medical Benefits
Medical benefits for retirees are provided by the payment of Medicare premiums from
PERS and TRS. In fiscal 1992 the pre -65 monthly cost of $319 and post -65 cost of $121
(due to Medicare) were assumed such that the total blended rate for all retirees of
$244 equals the present monthly premium rate. These medical premiums are then
increased with the health inflation assumption. The actuarial cost method used for
funding retirement benefits is also used to fund health benefits.
22
Historical Trend Information
Trend information gives an indication of the progress made in accumulating sufficient
assets to pay benefits when due. The pension benefit obligation has not been
determined by the actuary for years prior to June 30, 1987. As a result, only
' information at June 30, 1991, 1990, 1989, 1988, and 1987 is available regarding the
following trend indicators, ($ in thousands):
23
PERS
School
Borough
District
Net asset available for benefits:
1987
$
2,222
$5,685
1988
2,896
7,111
1989
3,468
7,794
1990
4,227
8,751
1991
4,583
8,273
Pension benefit obligation (PBO):
1987
$
1,929
$5,085
1988
2,680
6,477
1989
3,328
7,331
1990
3,888
7,467
1991
4,655
8,862
Net assets available for benefits
as a percentage of PBO:
1987
115%
112%
1988
108
110
1989
104
106
1990
109
117
1991
98
93
Assets in excess (deficiency) of PBO:
1987
$
294
$ 600
1988
216
634
1989
140
463
1990
339
1,284
1991
(72)
(589)
Annual covered payroll:
1987
$
1,701
$2,431
1988
1,830
2,473
1989
2,131
2,526
1990
2,373
2,562
1991
2,418
2,615
1992
2,429
2,648
Assets in excess (deficiency) of PBO
expressed as a percentage of annual
covered payroll:
1987
16.07%
24.26%
1988
10.14
25.10
1989
5.90
16.20
1990
14.02
49.10
1991
(2.96)
(22.24)
Contribution rates:
Employee
1987
6.75%
6.75%
1988
6.75
6.75
1989
6.75
6.75
1990
6.75
6.75
1991
6.75
6.75
1992
6.75
6.75
Employer
1987
4.27%
7.29%
1988
9.20
6.24
1989
9.20
6.24
1990
5.34
4.27
1991
7.55
5.24
1992
10.25
8.25
23
NOTE 6 - FIBED ASSETS
A summary of changes in the General Fixed Assets Account Group for the year ended
June 30, 1992 follows:
The following is a summary of Enterprise Fund fixed assets at June 30, 1992:
Unclassified utility plant in service $17,888,386
Hospital building and improvements 4,105,899
Equipment 2,966,260
Land 40,275
25,000,820
Less: accumulated depreciation (5,833,932
19,166,988
Construction work in progress 69,261
Net Fixed Assets S19,236,249
NOTE 7 - HOSPITAL CAPITAL LEASE OBLIGATION
The Hospital leases equipment under a long -term lease agreement at an imputed 8.50%
rate of interest. The unamortized cost of such equipment included in fixed assets at
June 30, 1992 is $611,663. Amortization of the leased equipment is included in
depreciation expense.
Minimum lease payments for the remainder of the lease term are as follows:
Year ending June 30,
1993 $ 110,613
1994 147,484
1995 147,484
1996 148,033
Total minimum lease payments 553,614
Less interest (84,052
Present value of minimum lease payments 469,562
Less current portion (82,189
Capital lease obligation S 387,373
7
24 1 k
Balance at
Balance at
July 1, 1991
Additions
'
Deductions June 30, 1992
Land
$ 7,469,315
$ 37,000
$ - $ 7,506,315
Buildings
64,790,809
-
- 64,790,809
Improvements other than
buildings
842,139
-
- 842,139
Machinery and equipment
4,134,553
307,887
242,452 4,199,988
Construction work in progress
1,493,112
308,520
- 1,801,632
$78,729,928
$653,407
$242,452 579,140,883
The following is a summary of Enterprise Fund fixed assets at June 30, 1992:
Unclassified utility plant in service $17,888,386
Hospital building and improvements 4,105,899
Equipment 2,966,260
Land 40,275
25,000,820
Less: accumulated depreciation (5,833,932
19,166,988
Construction work in progress 69,261
Net Fixed Assets S19,236,249
NOTE 7 - HOSPITAL CAPITAL LEASE OBLIGATION
The Hospital leases equipment under a long -term lease agreement at an imputed 8.50%
rate of interest. The unamortized cost of such equipment included in fixed assets at
June 30, 1992 is $611,663. Amortization of the leased equipment is included in
depreciation expense.
Minimum lease payments for the remainder of the lease term are as follows:
Year ending June 30,
1993 $ 110,613
1994 147,484
1995 147,484
1996 148,033
Total minimum lease payments 553,614
Less interest (84,052
Present value of minimum lease payments 469,562
Less current portion (82,189
Capital lease obligation S 387,373
7
24 1 k
NOTE 8 - LONG -TERM DEBT:
The following is a summary of long term debt payable for the year ended June 30, 1992:
Type of Debt
Environmental Protection Agency
Asbestos Abatement Loan
Principal
Interest Pavments
Issue Maturity
Rates Dates Date Date Dates Amount
0.0 %* - 6/20/85 11/8/05 12/31/92 S 10,417
06/30/93
to 10,417
06/30/04 x 23
12/31/04 10.406
260.414
General Obligation Variable
Rate Demand bonds
General Obligation School
Refunding Bonds
General Obligation School
Refunding Bonds
Variable Quarterly 5/28/86 6/1/96 Refunded - 7/15/91
6.6 -8% 8/1 -2/1 5/1/89 8/1/2000
4.65 -5.9% 6/1 -12/1 7/15/91 6/1/96
* Interest free unless delinquent; then 7% plus fees and penalties.
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
26
8.105.000
12/1/92
795,000
6/1/93
250,000
12/1/93
780,000
6/1/94
250,000
12/1/94
765,000
6/1/95
250,000
12/1/95
750,000
6/1/96
250.000
4.090.000
$12.455.414
26
Authorized Prior Years
Balance at
Year Amount Issued Retired July 1, 1991
1985
$ 375,000
$ 375,000
$ 93,752
$ 281,248 S
1986
9,930,000
9,930,000
4,930,000
5,000,000
Current Year
Balance at
Issued Retired June 30, 1992
S 20,834 S 260,414
5,000,000 -
1989 10,000,000 10,000,000 1,265,000 8,735,000 -
1991 4,875,000 - - - 4,875,000
$25,180,000 $20,305,000 $5,288,752 $14,016,248 54,875,000
630,000 8,105,000
785.000 4,090,000
$6,435,834 $12,455,414
27
A summary of long -term debt
as of and for the year ended
June 30, 1992
follows:
ti
Balance at
Balance at
July 1, 1991
Additions
Deductions
June 30, 1992
General obligation bonds
$13,735,000
$4,875,000
$6,415,000
$12,195,000
EPA loan payable
281,248
-
20,834
260,414
Accrued annual leave
167,878
23,449
-
191,327
$14,184,126
54.898,449
$6,435.834
$12,646,741
,
The annual requirements to amortize all general obligation debt and the EPA loan payable ,
outstanding as of June 30, 1992, including interest payments of $3,239,793 on the general
obligation debt, are as follows:
June 30,
1993 $ 2,480,349 '
1994 2,409,212
1995 2,343,080
1996 2,271,503
1997 1,231,770
1998 1,224,144 r
1999 1,226,761
2000 1,219,213
2001 1,216,258
2002 -2005 72,917 t
515,695,207
The amount of $6,747,807 is available in the Debt Service Funds to service all general
obligation bonds.
There are a number of limitations and restrictions contained in the various bond indentures.
The Borough is in compliance with all significant limitations and restrictions.
General Obligation Bond Refunding - 1989
In 1989 the Borough sold $10,000,000 general obligation bonds to advance refund 1980 Series
general obligation bonds totalling $9,495,000. The proceeds of the refunding issue were
placed in a special escrow account and together with the interest earnings of the escrow
account were used to redeem the 1980 Series Bonds on August 1, 1990. The 1980 bonds were
subject to redemption prior to maturity.
Demand Bond Refunding - 1991
On July 15, 1991, the Kodiak Island Borough issued $4,875,000 in general obligation bonds
with an average interest rate of 5.4% to refund $4,750,000 of the outstanding 1986 Series
bonds with a variable interest rate. The net proceeds of $4,738,047 (including receipt of
accrued interest in the amount of $20,409 and after payment of $156,682 in underwriting fees,
discount on the bonds, insurance, and other issuance costs) were used to redeem the 1986 bond
issue. The 1986 bonds were subject to redemption prior to maturity.
The Borough issued the 1991 bonds and refunded the 1986 bonds to reduce its total debt
service payments over the next five years by approximately $100,000, and to obtain an
estimated economic gain (difference between the present values of the debt services payments
on the old and new debt) of approximately $93,500. The gain is based on receiving future
debt service reimbursements from the State of Alaska at the rate structure currently in
effect. The reimbursements are, however, subject to annual appropriation and may change.
The refunded bonds referred to above have been appropriately eliminated from long -term debt '
and the advance refunding bonds added.
28 1
1
NOTE 9 - CAPITAL PROJECTS FUNDS CONSTRUCTION COMMITMENTS
A summary of Capital Projects Funds construction commitments at June 30, 1992 follows:
Various Borough Projects $ 934,874
State Capital Grants Fund 40.297
S 975,171
Resources are presently available or committed to finance construction commitments at June
30, 1992 for all funds except the School Bond Improvements Fund. The additional resources
required in this fund will be available during fiscal year 1993.
NOTE 10 - ENTERPRISE FUNDS SEGMENT INFORMATION
The Borough owns and operates a Water and Sewer Utility Fund and a Sanitary Services Fund.
The Kodiak Island Hospital and Care Center is included in the Borough's financial statements
as a component unit. Segment financial data as of and for the year ended June 30, 1992 for
the Sanitary Services, Water and Sewer Utilities and Hospital are as follows:
Sanitary Water Sewer
Services Utility Utility Hospital
Total
Operating revenues $1,441,854 $ 378,872 $ 417,415 18,630,825
$10,868,966
Depreciation expense 102,142 109,653 196,612 434,641
843,048
Operating loss (256,276) (35,137) (138,007) (3,836)
(433,256)
Operating grants 134,460
134,460
Operating transfers in 18,000 87,500 87,500 -
193,000
Operating transfers out (20,694) (200,000) (25,000) -
(245,694)
Net income (loss) (258,970) (131,484) (60,472) 202,989
(247,937)
Contributions in aid of construction:
Amortization 100,744 109,645 196,590
i
406,979
Property, plant and equipment additions 86,717 10,195 18,396 93,467
208,775
Net working capital (225,562) 81,831 108,189 2,299,237
2,263,695
Total assets 2,299,052 5,344,452 9,123,244 7,191,433
23,958,181
Total equity 2,052,674 5,285,447 9,085,085 6,048,809
22,472,015
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
1 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.
NOTE 12 - MALPRACTICE INSURANCE AND RELATED LITIGATION:
As of January 1, 1990, the Hospital has self- insured itself for medical malpractice claims
up to a maximum of $500,000 per occurrence and $1,000,000 in aggregate. In addition, the
Hospital has purchased stop loss insurance for claims up to $3,000,000 per occurrence and
$6,000,000 in aggregate. The Hospital is required to deposit money into a fund, up to
$1,000,000 which is held by a trustee. The balance in the fund at June 30, 1992 is $624,899
and is principally invested in U.S. Government obligations and is valued at cost, which
approximates market. Prior to January 1, 1990 the Hospital was insured under a claims -made
1 29
1
policy. The Hospital has not purchased tail coverage and therefore, claims based on ,
occurrences prior to January 1, 1990 but reported subsequently will be uninsured.
NOTE 13 - INDIVIDUAL FUND DISCLOSURES
Interfund Receivables and Pavables
A summary of interfund receivables and payables at June 30, 1992 is as follows:
Receivable Pavable
General
Fund
$ 679,453
$3,512,292
Special
Revenue
Funds
- Mental Health Center
-
11,453
Special
Revenue
Funds
- Coastal Management
-
21,000
Special
Revenue
Funds
- Day Care
-
8,100
Special
Revenue
Funds
- Education
2,185,893
28,391
Special
Revenue
Funds
- Land Sales
900,000
-
Special
Revenue
Funds
- Building and Grounds
-
70,000
Special
Revenue
Funds
- Community and Regional Affairs
-
2,300
Special
Revenue
Funds
- Oil Spill Cleanup
158,741
86,342
Debt Service Fund
- Other
100,000
-
Debt Service Fund
_
- School Bonds
-
170,000
Capital
Project
Funds
- Various Borough Projects
-
237,600
Capital
Project
Funds
- School Equipment and Furnishings
28,391
-
Capital
Project
Funds
- State Capital Grants
50,000
-
Capital
Project
Funds
- School Major Maintenance
-
20,000
Enterprise Funds
- Sanitary Services
-
135,000
Enterprise Funds
- Water Utility
100,000
-
Enterprise Funds
- Sewer Utility
100,000
-
84,302,478 $4,3
Fund Deficits
The fund deficits at June 30, 1992 are as follows:
Special Revenue funds -
Coastal Management $ 20
Community and Regional Affairs 2,526
$ 2,546
These deficits will be funded in fiscal year 1993 through transfers from other funds.
Interfund Transfers
Interfund operating transfers have been made in accordance with budget ordinances with the
exception 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 between fund types during the
year ended June 30, 1992, were as follows:
30
Transfers
In
Special
Debt
Capital
Transfers
General
Revenue
Service
Projects
Enterprise
Out
Fund
Funds
Funds
Funds
Funds
Fund Type
Operating transfers:
General Fund
$3,765,701
S -
$3,500,000
S 15,774
S 222,000
$ 18,000
Special Revenue
2,680,148
81,670
10,000
2,188,478
400,000
-
Debt Service
721,457
-
1,457
-
720,000
-
Capital Projects
100,000
-
-
-
100,000
-
Enterprise
245,694
-
-
70,694
175,000
Total Operating Transfers
$7,513,000
581.670
$3,511,457
$2,204,252
$1,512,694
$193,000
30
Excess of Expenditures Over Appropriations
General Fund
The following departments' expenditures exceeded their appropriations:
Department Excess
Legal Services $23,607
Building Inspector 3,288
S26,895
The following funds' expenditures exceeded their appropriations:
Special Revenue Funds
Fund Excess
Coastal Management $ 20
Road Bay View 606
626
Enterprise Funds
Fund
Excess
Sanitary Services
$101,041
Water
10,009
Sewer
181,022
$292,072
Proprietary Funds' reconciliation
of Fund equity for the
year ended June
30, 1992.
Sanitary
Water
Sewer
Services
Utility
Utility Hospital
Total
Fund equity at beginning of year
$2,311,644
$5,416,931
$9,145,557 56,167,879
(23,042,011
Net loss
(258,970)
(131,484)
(60,472) 202,989
(247,937)
Adjustment for change in year end
-
- (322,059
(322,059
Fund equity at end of year
$2,052,674
$5,285,447
$9,085,085 $6,048,809
$22_ 4
NOTE 14 - CONTINGENCIES
Litigation
Oil Spill -
The Borough is involved in litigation seeking recovery from Exxon and others for damages it
sustained as a result of the Exxon oil Spill. Although the Borough's claim is in excess of
$1,000,000, at this time it is not possible to determine the amount, if any, of damages it
will ultimately be awarded.
General -
The Borough, in the normal course of its activities, is involved in various claims and
pending litigation. In the opinion of management, the disposition of the claims and
litigation is not presently expected to have a material adverse effect on the Borough's
financial statements. In addition, management feels that all the material risks that the
Borough is exposed to have been adequately insured via commercial insurance and the Hospital
self insurance trust.
11 31
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.
NOTE 15 - EFFECT ON FUTURE YEARS OF GASB 14 I14PLEMMATION
In June 1991 the Governmental Accounting Standards Board issued Statement No. 14, The
Financial Reporting Entity which is effective for fiscal periods beginning after December
15, 1992. GASB Statement No. 14 changes the basis for determining which component units
should be included in the financial statements of the financial reporting entity. GASB
Statement No. 14 also prescribes that the financial statements of most component units be
displayed in the financial statements of the financial reporting entity in a separate column
or columns called "discrete presentations" rather than by "blending" those financial
statements into the fund types of the primary reporting entity. Implementation of GASB
Statement No. 14 is expected to have the following effect on the general purpose financial
statements of the Borough: The Kodiak Island Borough School District and the Kodiak Island
Hospital and Care Center will be presented as discrete component units, rather than blended
into fund types.
NOTE 16 - HOSPITAL CHANGE OF YEAR END
Effective July 1, 1991, the Kodiak Island Hospital and Care Center changed its fiscal year
end from December 31 to June 30, to conform to that of the Kodiak Island Borough.
Accordingly, the Hospital was audited for the year ended December 31, 1990, the six month
period ended June 30, 1991, and for the year ended June 30, 1992.
To illustrate the effect of the change in year end, the general purpose financial statements
include a line item entitled "Adjustment for change in year end." This line represents the
net loss for the six month period ended June 30, 1991. The prior year (Memorandum only)
columns include financial information as of and for the year ended December 31, 1990 for
comparison purposes only.
The following summarizes key financial information of the Hospital as of and for the six
months ended June 30, 1991:
Current assets $3,926,197 Total revenues $4,672,392
Total assets 8,103,770
Current liabilities 1,768,358 Total expenses 4,994,451
Total liabilities 2,257,950
Fund balance 5,845,820 Net Loss $ (322
32 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.
33
EXHIBIT A -1
ASSETS
Equity in central treasury
Temporary investments
Total cash and investments
KODIAK ISLAND BOROUGH
GENERAL FUND
BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
Receivables:
Accounts receivable
State of Alaska
Federal government
Due from other funds
Property taxes:
Delinquent taxes
Allowance for uncollectible delinquent taxes
Accrued interest receivable
Net receivables
Prepaid expenses
Total assets
LIABILITIES AND FUND BALANCE
Liabilities:
Accounts payable
Payroll taxes and employee benefits
Due to other funds
Other accrued liabilities
Total liabilities
Fund Balance:
Reserved - prepaid expenses
Unreserved - designated for subsequent year expenditures
Total liabilities and fund balance
1992 1991
$ 60,325
4,679,257
$ 120,251
3,586,982
4
3,707,233
23,820 -
42,597 49,310
6,990 -
679,453 -
88,284 59,745
(17,667) (17,667)
11 ,tee ,e
889,635 139,654
40,319 37,250
$5,669,536 $3,SM,137
$ 126,636 E 92,897
45,655
18,167
3,512,292
1,995,115
3,376
3,208
3,687,959
2,109,387
40,319 37,250
1,941,258 1,737,500
$5,669,536 $3.884,137
34
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, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Investments and property:
Interest income
360,000 364,833
4,833
Variance -
Gain on exchange
2,718
2,718
24,556
Favorable
1991
7,551
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes:
Real
$2,361,200
$2,436,524
S 75,324
$1,806,671
Personal
441,870
428,400
(13,470)
355,227
Motor vehicle
180,000
167,056
(12,944)
175,433
Penalty and interest
65,000
83,127
18,127
41,129
Payments in Lieu of taxes
441,500
422,744
(18,756
445,469
Total property taxes
3,489,570
3,537,851
48,281
2,823,929
Intergovernmental:
State sources:
State shared revenue
684,000
594,576
(89,424)
581,772
Municipal assistance
528,490
543,407
14,917
581,558
Raw fish tax
1,350,000
1,295,921 ✓
(54,079)
1,082,779
Electric co -op tax
8,700
8,677
(23)
7,055
Miscellaneous
610
528
(82
724
Total State sources
2,571,800
2,443,109
(128,691)
2,253,888
Federal sources
3,600
7,230
3,630
2,063
Total intergovernmental revenue
2,575,400
2,450,339
(125,061
2.255.951
Severance taxes:
Fish
490,230
428,511
(61,719)
-
Mining
740
5,567
4,827
-
Logging
71,280
96,005
24,725
-
TotaL severance taxes
562,250
530,083
(32.167
-
Licenses, permits, fees and
other local revenues:
Building and trailers
25,000
25,489
489
14,770
Subdivision and zoning fees
9,500
8,343
(1,157)
8,537
Sate of copies
5,000
7,299
2,299
5,923
Switchboard services
15,000
13,027
(1,973)
15,496
Emergency medical services
33,000
48,624
15,624
26,817
Miscellaneous
126,320
110,154
(16,166
29,325
Total Licenses, permits, fees
and other local sources
213,820
212,936
(884
100,868
Investments and property:
Interest income
360,000 364,833
4,833
431,825
Gain on exchange
2,718
2,718
24,556
Total investments and property
360,000 367,551 -
7,551
456,381
Total revenues
$7,201,040 $7,098,760
S002,280
$5,637,129
Continued
35
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, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Expenditures:
1 Borough Assembly
z Mayor's department
3 Clerk's department
F egal services
inance department
,o Data services
� Assessment department
4 Engineering facilities department
I Community development
13 Building inspector
Resource management
Switchboard /word processing
Community & Regional Affairs liaison
i(, Economic development
iz General Administration
ru Emergency preparedness
iS Educational support
I Health and sanitation
q Culture and recreation
Total expenditures
i+ �
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
S 135,300
S 124,650
S 10,650
S 127,479
167,340
159,292
8,048
207,326
220,460
204,818
15,642
235,235
161,100
184,707
(23,607)
143,481
316,080
307,954
8,126
313,393
240,300
229,521
10,779
197,025
243,450
236,022
7,428
215,401
165,360
88,482
76,878
149,898
381,920
354,147
27,773
376,662
75,000
78,288
(3,288)
78,218
81,670
78,895
2,775
75,013
86,200
80,986
5,214
57,398
-
-
-
3,171
54,200
45,946
8,254
49,854
321,920
318,332
3,588
368,463
32,000
19,328
12,672
3,081
37,500
27,510
9,990
43,633
483,750
478,324
5,426
411,000
195,700
190,700
5,000
190,700
3,399,250
3,207,902
191,348
3,246,431
36
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
KODIAK ISLAND BOROUGH
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Excess of revenues over expenditures
Operating transfers in:
Special Revenue:
Land Sales
Capital Projects:
Various Borough Projects
Operating transfers out:
Special Revenue:
Education
Mental Health
Buildings and grounds
Debt Service:
Other
Capital Projects:
Various Borough projects
Enterprise Funds:
Sanitary services
Hospital
Net operating transfers out
Excess (deficiency) of revenues and operating
transfers in over expenditures and operating
transfers out
Fund balance at beginning of year
Fund balance at end of year
EXHIBIT A -2 (Continued)
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
S 3,801,790 S 3,890,858 S 89,068 S 2,390,698
81,670
81,670
-
73,230
-
-
-
100,000
81,670
81,670
-
173,230
3,000,000
3,000,000
-
2,100,000
200,000
200,000
-
210,000
300,000
300,000
-
460,000
9,000
15,774
(6,774)
325
222,000
222,000
-
18,000
18,000
-
-
134,460
9,927L,,
124,533
-
3,883,460
3,765,701
117,759
2,770,325
(3,801,790)
(3,684,031)
117,759
(2,597,095)
$ -
206,827
$206,827
(206,397)
1,774,750
1,981,147
S 1,981,577
5 1,774,750
37
EXHIBIT A -3
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Expenditures:
Borough Assembly:
Personnel Services
Fringe benefits
Support, goods & services
Lobbyist
Total
Mayor's department:
Personnel services
Fringe benefits
Support, goods & services
Total
Clerk's department:
Personnel services
Fringe benefits
Consultant
Support, goods & services
Capital Outlay
Total
Legal services:
Legal fees
Support, goods & services
Total
Finance department:
Personnel services
Fringe benefits
Support, goods & services
Capital outlay
Allocated to projects
Total
Data Services:
Personnel services
Fringe benefits
Contracted services
Support, goods & services
Capital outlay
Allocated to projects
Total
S 16,800
$ 16,800
$ -
$ 15,400
1,500
1,573
(73)
891
64,000
60,981
3,019
66,450
53,000
45,296
7,704
44,738
135,300
124,650
10,650
127,479
99,010
101,438
(2,428)
139,219
38,550
30,323
8,227
39,531
29,780
27,531
2,249
28,576
167,340
159,292
8,048
207,326
121,070
108,647
12,423
128,712
42,630
34,855
7,775
35,335
-
-
-
2,500
56,760
60,529
(3,769)
67,112
-
787
(787)
1,576
220,460
204,818
15,642
235,235
140,000
135,028
4,972
123,612
21,100
49,679
(28,579)
19,869
161,100
184,707
(23,607)
143,481
204,500
210,459
(5,959)
201,722
69,960
57,387
12,573
68,668
38,620
30,489
8,131
43,003
3,000
11,580
(8,580)
-
-
(1,961)
1,961
-
316,080
307,954
8,126
313,393
202,520
203,930
56,780
56,858
4,100
5,038
76,900
81,328
35,000
23,125
(135,000)
(140,758)
240,300
229,521
(1,410)
178,414
(78)
48,941
(938)
6,825
(4,428)
59,564
11,875
47,072
5,758
(143,791)
10,779 197,025
38
Continued
39
EXHIBIT
A -3 (Continued)
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR
1991
1992
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Assessment department:
Personnel services
S 158,440 S
159,242
S (802)
E 146,081
Fringe benefits
58,310
50,729
7,581
47,192
Contracted services
4,000
4,076
(76)
106
Support, goods & services
22,700
21,975
725
21,668
Capital outlay
-
-
-
354
Total
243,450
236,022
7,428
215,401
Engineering facilities department:
Personnel services
145,000
142,137
2,863
123,894
Fringe benefits
53,210
48,699
4,511
49,698
Contracted services
25,000
2,149
22,851
20,834
Support, goods & services
22,150
16,073
6,077
23,109
Capital outlay
-
-
-
969
Allocated to projects
(80,000)
(120,576)
40,576
(68,606)
Total
165,360
88,482
76,878
149,898
Community development department:
Personnel services
258,230
246,778
11,452
235,637
Fringe benefits
106,680
83,547
23,133
74,977
Contracted services
1,400
2,186
(786)
5,584
Support, goods & services
35,410
37,248
(1,838)
49,155
Capital outlay
5,200
11,514
(6,314)
23,079
Allocated to projects
(25,000)
(27,126)
2,126
(11,770)
Total
381,920
354,147
27,773
376,662
Building inspector:
Contracted services
75,000
78,184
(3,184)
78,036
Support, goods & services
-
104
(104)
182
Total
75,000
78,288
(3,288)
78,218
Resource management:
Personnel services
53,650
55,836
(2,186)
51,313
Fringe benefits
24,080
19,706
4,374
21,381
Support, goods & services
3,940
3,353
587
4,358
Capital outlay
-
-
-
1,311
Allocated to projects
-
-
-
(3,350)
Total
81,670
78,895
2,775
75,013
Switchboard /Word processing:
Personnel services
47,520
53,726
(6,206)
44,000
Fringe benefits
18,680
14,035
4,645
11,427
Support, goods & services
20,000
13,225
6,775
1,971
Total
86,200
80,986
5,214
57,398
Community & Regional Affairs liaison:
Support, goods & services
-
-
-
3,171
Total
-
-
3,171
Continued
39
EXHIBIT A-3 (Continued)
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR
1991
1992
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Economic development:
General services -
Contracted services
$ 39,200 S
27,719
$ 11,481
S 28,441
Support, goods & services
-
3,227
(3,227)
1,413
Contributions -
Kodiak Chamber of Commerce
-
-
-
5,000
Kodiak Convention Bureau
15,000
15,000
-
15,000
Total
54,200
45,946
8,254
49,854
General administration:
Fringe benefits
16,000
15,672
328
39,950
Audit expense
121,000
126,160
(5,160)
103,738
Support, goods & services
184,920
176,500
8,420
205,022
Capital outlay
-
-
-
19,753
Total
321,920
318,332
3,588
368,463
Emergency preparedness:
Personnel services
-
79
(79)
-
Fringe benefits
-
17
(17)
-
Support, goods & services
7,000
15,113
(8,113)
3,081
Capital outlay
25,000
4,119
20,881
-
Total
32,000
19,328
12,672
3,081
Education support:
School support -
Audit expense
37,500
27,510
9,990
23,633
Capital outlay
-
-
-
20,000
Total
37,500
27,510
9,990
43,633
Health and sanitation:
Emergency medical services
32,450
26,799
5,651
26,994
Animal control
48,000
48,676
(676)
35,740
Council on Alcoholism
50,000
50,000
-
60,000
State Health Services Villages
25,800
25,800
-
25,800
State Health Services KANA
8,600
8,600
-
8,600
Warren's Resource Crisis
34,900
34,900
-
34,900
American Red Cross
2,000
2,000
-
2,000
Alaska Legal Services
7,000
7,000
-
7,000
Kodiak Baptist Mission
60,000
60,000
-
60,000
Small World (Day Care)
18,000
18,000
-
18,000
Special Olympics
3,000
3,000
-
3,000
Health Center Support
2,000
2,110
(110)
1,966
Senior Citizen Support
24,000
24,000
-
24,000
Kodiak Respite Care
3,000
3,000
3,000
Detox
40,000
40,000
-
50,000
Ambulance service
125,000
124,439
561
50,000
Total
483,750
478,324
5,426
411,000
40
KODIAK ISLAND BOROUGH
GENERAL FUND
SCHEDULE OF EXPENDITURES AND TRANSFERS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
EXHIBIT A -3 (Continued)
41
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Culture and recreation:
KMXT Public Radio
S 12,000
S 12,000
$ -
S 12,000
Historical Society
9,000
9,000
-
9,000
Summer Basketball
3,000
3,000
-
3,000
Crime Stoppers
-
-
-
1,500
Kodiak Island Sport Association
2,500
2,500
-
2,500
Kodiak Art Council
12,000
12,000
-
12,000
Village Libraries
18,000
18,000
-
18,000
Chiniak Public Library
3,000
3,000
-
3,000
City of Kodiak Library
58,000
58,000
-
58,000
Head Start
8,200
8,200
-
8,200
Kodiak College
34,000
34,000
-
34,000
Kodiak Little League
2,000
2,000
-
2,000
Kodiak Library Association
1,500
1,500
-
1,500
Santa in the Villages
1,000
1,000
-
1,000
Karluk IRA Council
20,000
20,000
-
20,000
KANA Dorms
10,000
5,000
5,000
5,000
Elks Fireworks
1,500
1,500
-
-
Total expenditures
195,700
190,700
5,000
190,700
Operating transfers out:
Special Revenue -
Education
3,000,000
3,000,000
2,100,000
Mental Health
200,000
200,000
-
210,000
Buildings and grounds
300,000
300,000
-
460,000
Debt Service -
Other
9,000
15,774
(6,774)
325
Capital Projects -
Various Borough projects
222,000
222,000
-
-
Enterprise Funds -
Sanitary services
18,000
18,000
-
-
Hospital
134,460
9,927
124,533
-
Total operating transfers out
3,883,460
3,765,701
117,759
2,770,325
Total
$7,282,710
$6,973,603
$309,107
$6,016,756
41
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.
MENTAL HEALTH CENTER
This fund accounts for the operations of a mental health center financed by State
of Alaska grants and contracts and user fees.
COASTAL MANAGEMENT
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
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
' This fund accounts for the disposal of Borough -owned lands. The proceeds of land
disposals are generally used for the management of Borough lands and the repairs
and maintenance of school buildings.
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 and certain non-
profit community organizations.
LIGHTING DISTRICT
This fund accounts for activities related to the Woodland Acres Lighting District
established by the voters within the district to provide street lighting within
the service area.
COMMUNITY AND REGIONAL AFFAIRS
This fund accounts for the reimbursable expenditures of the Kodiak Regional
' Office of the State of Alaska, Department of Community and Regional Affairs.
Expenditures include postage, telephone, copy costs, and office equipment.
Revenue is generally in the form of reimbursement in the same amount as billable
expenditures.
' 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.
1 43
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
ASSETS
Equity in central treasury
Temporary investments
Other cash and cash equivalents
Receivables:
State of Alaska
Federal government
Land sales contract, due
within one year
Accrued interest
Other
Allowance for doubtful receivables
Due from other funds
Inventories
Prepaid expenses
Land sales contracts receivable,
due after one year
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Salaries payable
Payroll taxes accrued and withheld
Employee benefits accrued and withheld
Customer deposits
Deferred and unrealized revenues
Due to other funds
Other
Total liabilities
Fund balance:
Reserved:
Encumbrances
Fuel inventory
Health Insurance
PL -874
Prepaid expenses
Unreserved -
Designated:
Subsequent year expenditures
Undesignated
Total fund balances
Total liabilities and fund
balances
Fire
Road
Women's
Monashka
District
Women's
Bay View
Area 1
B_ av
Bay
One
Bay
Road
S 64,798
$29,501
$10,765
$41,484
$74,528
$2,322
384,054
-
-
-
-
-
805
-
-
-
-
-
3,738
1,418
328
4,023
22,770
75
$453,395
$30,919
$11,093
$45,507
$97,298
52,397 ,
5 1,010 S 830 $ - 8 - S 903 5 -
466 - -
- 300 - - -
1,476 1,130 - 903 -
451,919 29,789 11,093 45,507 96,395 2,397
451,919 29,789 11,093 45,507 96,395 2,397
$453,395 830,919 $11,093 $45,507 $97,298 52,397
44
EXHIBIT B -1
Federal and
State Grant Programs
Mental Coastal Building Woodland Community Totals
Health Manage- and Acres & Regional Oil Spilt
Center ment Day Care Education Land Sales Grounds Lighting Affairs Cteanuo 1992 1991
S 396 $ 534 S 53 $ 70,118 $ 13,248 $ 3,412 (6,001 $ 94 $20,519 S 337,773 S 349,388
- - - - 617,109 500,000 - - - 1,501,163 1,941,891
- - - - - - - - 45,111
110,260 20,446 29,425 1,206,532 - - - - 1,366,663 1,211,133
- - - 16,034 - - - - 16,034 41,924
- 300,000 - - - - 300,000 195,510
18,058 2,447 - - - 21,310 32,135
202,274 - - 10,365 33,958 - 327 - 46,236 325,512 318,844
(37,085) - - - (25,000) - - - - (62,085) (56,923)
2,185,893 900,000 - 158,741 3,244,634 2,235,115
172,749 - - - - 172,749 173,826
31,588 - - - - 11,555 - 43,143 32,090
- - 1,294,823 - - 1.294.823 1,729,586
$307,433 $21 $2178 $3,661,691 $3,152.196 $51 56,328 5225,496 58,561,719 $8,250,030
S 6,893 5 - $17,550 5 764,181 $ 605 $ 9,286 $ 262
- - - 833,433 - - -
- - - 870,568 - -
16,269 - - 118,351 - -
- - - - 1,594,823 -
11,453 21,000 8,100 28,391 - 70,000
5,830 - 406,538 - -
40,445 21,000 25,650 3,021,462 1,595.428 79,286 262
$ 320 S 10,971 S 812,811 $ 400,779
- - 833,433 752,624
- 870,568 732,248
- 135,086 109,271
- 300 300
- 110,426 1,705,249 2,086,635
2,300 86,342 227,586 257,670
- 412,368 206,538
2,620 207,739 4,997,401 4,546,065
-
- -
84,642
84,642
78,965
-
- -
158,145 -
-
- 158,145
50,345
'
-
-
-
200,000
-
- -
77,016
77,016
154,032
31,588
- -
-
11,555
-
43,143
32,090
-
261,669 -
- -
-
261,669
341,800
235,400
(20 3,828
58,757 1,556,768
426,573 6,066
(2,526
17,757 2,939,703
2,846,733
266,988
(20 3,828
640,229 1,556,768
438,128 6,066
(2,526
17,757 3,564,318
3,703,965
$307,433
$20,980 $29,478
$3,661,691 $3,152,196
$51 56,328
S 94
$225,496 $8,561,719
58,250,030
45
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, TRANSFERS AND
CHANGES IN FUND BALANCE (DEFICIT)
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
46
Fire and Road
Service
Districts
Fire
Road
Women's
Monashka
District
Women's
Area 1
Bay_
Bay
One
Bay
Bay View
Revenues:
Property taxes
$137,439
534,669
$21,988
$142,072
$ 69,435
$3,872
State sources
4,870
851
3,600
13,302
23,069
1,295
Federal sources
-
-
-
-
-
-
Land sale proceeds
-
-
-
-
-
-
Licenses, permits, fees and
other local revenues
6,010
6,300
-
1,732
21,732
-
Investments and property
20,972
-
-
-
Total revenues
169,291
41,820
25,588
157,106
114,236
5,167
Expenditures:
Planning and community development
-
-
-
-
-
-
Health and sanitation
-
-
-
Education support
-
-
-
-
General administration
154,913
39,012
-
-
-
Oi t spi l l cleanup
-
-
-
-
-
-
Capital improvements:
Services district maintenance
-
-
18,402
135,656
52,955
4,606
General
-
-
-
-
-
-
Total expenditures
154,913
39,012
18,042
135,656
52,955
4,606
Excess (deficiency) of revenues
over expenditures
14,378
2,808
7,186
21,450
61,281
561
Operating transfers in
1,457
10,000
-
-
-
-
Operating transfers out
-
-
1( 0,000
Net operating transfers
1,457
10,000
-
1( 0,000
-
Excess (deficiency) of revenues
and operating transfers in
over expenditures and operating
transfers out
15,835
12,808
7,186
21,450
51,281
561
Fund balance at beginning of year
436,084
16,981
3,907
24,057
45,114
1,836
Adjustments to reserve for
fuel inventory
-
-
-
-
-
-
Fund balance (deficit) at end of year
$451,919
$29,789
$11,093
$ 45,507
$ 96,395
$2,397
46
EXHIBIT B-2
Federal and
State Grant Proarams Community Totals
Mental Coastal Building Woodland and
Health Manage- and Acres Regional OR Spill
Center ment Day Care Education Land Sales Grounds Lighting Affairs Cleanup 1992 1991
' E - E S f - S S - S 9,231 S S S 418,706 S 339,734
984,831 32,950 206,017 15,353,344 65,496 16,689,625 18,686,558
1,697,732 1,697,732 2,017,334
- - - - 431,843 - - - - 431,843 581,519
522,380 _ _ 175,761 34,578 - _ 2,470 _ 770,963 866,789
60.042 66.755 279.235 427,004 491,810
1,567,253 32.950 206.017 17,226,837 533,176 279.235 9,231 2,470 65,496 20.435,873 22,983.744
i
32,970 - - - - - - - 32,970 58,100
' 1,743,263 - 219,368 - _ - _ _ - 1,962,631 1,856,893
18,353,975 - 18,353,975 17,481,451
11,634 532,163 4,336 4,996 747,054 857,881
- - - - 66,544 66,544 409,989
- _ _ _ 211,619 140,548
37.000 37,000
1.743,263 32.970 219.368 18,353.975 48.634 532.163 4,336 4,996 66.544 21,411.793 20,804,862
(176,010 (20 1C 3.351 (1,127.138 484,542 (252,928 4.895 (2,526 (1.048 (975,920 2.178.882
200,000 - - 3,000,000 - 300,000 - - - 3,511,457 2,790,685
' (9.132 - (2,179.346 (481.670 - - - (2.680,148 (5.835.638
190,868 820.654 (481,670 300,000 831.309 (3,044,953
14,858 (20) (13,351) (306,484) 2,872 47,072 4,895 (2,526) (1,048) (144,611) (866,071)
' 252,130 - 17,179 941,749 1,553,896 391,056 1,171 - 18,805 3,703,965 4,605,628
4,964 - - 4.964 (35.592
S 266.988 S (20 E 3.828 Si S 1,5 S 438,128 S 6,066 E (2,526 17,757 S 3,564,318 $ 3 703,965
1 47
EXHIBIT B -3
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - FIRE AREA 1
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Revenues:
Property taxes
Payment in lieu of taxes
State sources - shared revenue
Licenses, permits, fees
and other local revenues
Investments and property
Total revenues
Expenditures - general administration:
Fire chief
Volunteers
Fringe benefits
Professional services
Contributions
Support costs
Capital outlay
Depreciation
Total expenditures
Excess (deficiency) of revenues over
expenditures
Operating transfers in
Net operating transfers
Excess (deficiency) of revenues and
operating transfers in over
expenditures
Fund balance at beginning of year
Fund balance at end of year
Budget
Actual
Variance -
Favorable
(Unfavorable)
S 140,000
5,000
6,000
28,000
62,680
8,000
20,060
4,000
200,000
59,450
22,000
12,400
388,590
$ 137,439
1,838
3,032
6,010
20,972
169,291
S (2,561)
1,838
(1,968)
10
(7,028)
(9,709)
1991
Actual
$ 127,769
2,424
5,074
6,005
32,024
173,296
64,335
(1,655)
59,874
5,055
2,945
4,400
22,933
(2,873)
17,766
-
4,000
-
-
200,000
-
54,062
5,388
40,624
8,528
13,472
19,081
-
12,400
-
154,913
233,677
141,745
(209,590) 14,378
223,968
- 1,457
1,457
- 1,457
1,457
S (209,590) 15,835
436,084
S 451,919
$ 225,425
31,551
10,685
10,685
42,236
S 436,084
48
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - FIRE WOMEN'S BAY
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
EXHIBIT B -4
49
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes
S 29,000
S 34,669
$ 5,669
S 33,377
State sources - shared revenue
600
851
251
2,446
Licenses, permits, fees
and other local revenues
7,200
6,300
(900)
8,400
Total revenues
36,800
41,820
5,020
44,223
Expenditures - general administration:
Personnel services
800
195
605
61
Fringe benefits
4,000
3,955
45
3,555
Support costs
27,600
27,482
118
34,909
Capital outlay
14,400
7,380
7,020
2,121
Total expenditures
46,800
39,012
7,788
40,646
Excess of revenues over expenditures
(10,000)
2,808
12,808
3,577
Operating transfers in
10,000
10,000
-
10,000
Net operating transfers
10,000
10,000
-
10,000
Excess of revenues and operating transfers
in over expenditures transfers out
S -
12,808
S 12,808
13,577
Fund balance at beginning of year
16,981
3,404
Fund balance at end of year
$ 29,789
$ 16,981
EXHIBIT B -4
49
EXHIBIT B-5
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS -ROAD MONASHKA BAY
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Property taxes
S 18,700
S 21,988
$ 3,288
S 21,546
State sources:
Shared revenue
3,700
3,267
(433)
3,473
Disaster relief
1,500
333
(1,167)
-
Total revenues
23,900
25,588
1,688
25,019
Expenditures - capital improvements -
service district maintenance:
Personnel services
-
285
(285)
239
Snow removal
12,400
9,268
3,132
10,474
Road grading
10,000
8,389
1,611
7,609
Repairs and maintenance
1,500
333
1,167
-
Support goods & services
-
127
(127)
86
Total expenditures
23,900
18,402
5,498
18,408
Excess of revenues over expenditures
$ -
7,186
$ 7,186
6,611
Fund balance at beginning of year
3,907
(2,704)
Fund balance at end of year
$ 11,093
S 3,907
50
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD DISTRICT 1
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
EXHIBIT B -6
51
Variance -
FavorabLe
1991
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes
S 128,600
$ 142,072
S 13,472
S 79,138
Payment in Lieu of taxes
-
2,573
2,573
1,939
State sources - shared revenue
10,000
10,729
729
10,122
Other
-
1,732
1,732
-
TotaL revenues
138,600
157,106
18,506
91,199
Expenditures - capital improvements -
service district maintenance:
PersonneL services
4,000
4,114
(114)
2,900
Repairs and maintenance
9,500
10,597
(1,097)
-
Snow removal
60,000
71,807
(11,807)
38,917
Road grading
64,000
48,672
15,328
15,899
Support goods & services
1,100
466
634
8,133
Total expenditures
138,600
135,656
2,944
65,849
Excess of revenues over expenditures
$ -
21,450
$ 21,450
25,350
Fund balance (deficit) at beginning of year
24,057
(1,293)
Fund balance at end of year
S 45,507
S 24,057
EXHIBIT B -6
51
EXHIBIT B -7
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE
AND ROAD SERVICE DISTRICTS
- ROAD WOMEN'S
BAY
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30,
1992
WITH COMPARATIVE TOTALS
FOR 1991
1992
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Revenues:
Property taxes
S 65,150
$ 69,435
S 4,285
S 66,755
State sources:
Shared revenue
16,000
15,176
(824)
15,760
Disaster relief
7,740
7,893
153
-
Licenses, permits, fees
20,000
20,000
-
20,000
Other
-
1,732
1,732
-
TotaL revenues
108,890
114,236
5,346
102,515
Expenditures - capital improvements -
service district maintenance:
Personnel services
500
491
9
136
Snow removal
35,000
29,360
5,640
34,099
Road grading
30,000
13,734
16,266
19,506
Repairs and maintenance
22,740
9,350
13,390
-
Support goods & services
10,650
20
10,630
64
Total expenditures
98,890
52,955
45,935
53,805
Excess of revenues over expenditures
10,000
61,281
51,281
48,710
Operating transfers out
(10,000)
(10,000)
-
(10,000)
Net operating transfers
(10,000)
(10,000)
-
(10,000)
Excess of revenues over expenditures
and operating transfers out
S
51,281
$ 51,281
38,710
Fund balance at beginning of year
45,114
6,404
Fund balance at end of year
S 96,395
S 45,114
52
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FIRE AND ROAD SERVICE DISTRICTS - ROAD BAY VIEW
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
Revenues:
Property taxes
State sources - shared revenue
Total revenues
Expenditures - capital improvements -
service district maintenance:
Personnel services
Snow removal
Road grading
Repairs and maintenance
Support goods and services
Total expenditures
Excess of revenues over expenditures
Fund balance (deficit) at beginning of year
Fund balance at end of year
EXHIBIT B-8
2,000
2,000
4,000
S -
306
3,992
143
146
19
4,606
561
1,836
52,397
(306)
(1,992)
1,857
(146)
(19
(606
$ 561
53
1991
Actual
$3,826
1,338
5,164
130
2,011
345
2,486
2,678
(842
$1 836
1992
Variance -
Favorable
Budget
Actual
(Unfavorable)
$3,100
$3,872
S 772
900
1,295
395
4,000
5,167
1,167
2,000
2,000
4,000
S -
306
3,992
143
146
19
4,606
561
1,836
52,397
(306)
(1,992)
1,857
(146)
(19
(606
$ 561
53
1991
Actual
$3,826
1,338
5,164
130
2,011
345
2,486
2,678
(842
$1 836
EXHIBIT B -9
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
STATE GRANT PROGRAMS - MENTAL HEALTH CENTER
STATEMENT OF REVENUES. EXPENDITURES.
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
54
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Revenues:
State sources:
Alaska Youth Initiative
E 73,539
$ 57,157
$(16,382)
$ 93,317
Developmental Disability Program
325,191
303,998
(21,193)
283,725
Health, Social and Community
Services Program
611,614
611,614
-
516,862
Division of Family and Youth Services
9,987
5,546
(4,441)
7,639
Other
1,546
6,516
4,970
2,324
Licenses, permits, fees and other
local revenues:
Organization user fees
288,600
257,929
(30,671)
251,329
Individual user fees
280,530
264,451
(16,079)
227,865
Investments and property:
Rental fees
60,000
60,000
-
60,000
Interest
3,000
42
(2,958)
5,904
Total revenues
1,654,007
1,567,253
(86,754)
1,448,965
Expenditures - health and sanitation -
mental health programs:
Personnel services
1,496,386
1,454,436
41,950
1,251,367
Travel
28,641
12,711
15,930
27,940
Facility
127,400
130,113
(2,713)
131,164
Supplies
67,150
49,918
17,232
68,820
Equipment
29,500
15,711
13,789
24,742
Capital outlay
-
-
-
18,066
Other
104,930
80,374
24,556
140,805
Total expenditures
1,854,007
1,743,263
110,744
1,662,904
Excess of revenues over expenditures
(200,000)
(176,010)
23,990
(213,939)
Operating transfers in
200,000
200,000
-
210,000
operating transfers out
-
(9,132)
(9,132)
(16,561)
Net operating transfers
200,000
190,868
(9,132)
193,439
Excess (deficiency) of revenues and
operating transfers in over
expenditures and operating
transfers out
$ -
14,858
$ 14,858
(20,500)
Fund balance at beginning of year
252,130
272,630
Fund balance at end of year
$ 266,988
S 252,130
54
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
STATE GRANT PROGRAMS - MENTAL HEALTH CENTER
SCHEDULE OF EXPENDITURES
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Expenditures - Alaska Youth Initiative:
Personnel
Travel
Facility
Supplies
Equipment
Other
EXHIBIT B -10
1991
Actual
S 73,178
310
7,053
6,062
965
5.749
93,317
Expenditures - Developmental Disability Program:
Variance -
Favorable
Budget
Actual
(Unfavorable)
S 51,589
S 43,937
S 7,652
3,600
5,704
(2,104)
5,350
2,298
3,052
500
324
176
12,500
4.891
7,609
73,539
57.154
16,385
EXHIBIT B -10
1991
Actual
S 73,178
310
7,053
6,062
965
5.749
93,317
Expenditures - Developmental Disability Program:
Personnel
326,540
318,710
7,830
227,523
'
Travel
7,141
749
6,392
5,035
Facility
20,200
22,178
(1,978)
17,209
Supplies
26,700
25,253
1,447
26,128
Equipment
7,500
4,392
3,108
8,518
Capital outlay
-
-
-
14,996
'
Other
8,000
6,423
1,577
45,321
396,081
377,705
18,376
344,730
Expenditures - Health, Social and Community Services Program:
'
Personnel
1,116,970
1,089,955
27,015
949,202
Travel
21,500
11,962
9,538
22,595
Facility
100,500
99,799
701
104,479
Supplies
33,500
22,283
11,217
35,756
'
Equipment
21,500
10,672
10,828
15,232
Capital outlay
3
Other
80,430
68,186
12.244
86,8
1,374,400
1,302,85 7
71,543
1,217,219
'
Expenditures - Division of family and Youth Services:
Personnel
1,287
1,834
(547)
1,464
Facility
3,100
2,431
669
2,423
Supplies
1,600
84
1,516
875
Equipment
324
(324)
27
Other
4,000
874
3.126
2.850
9,987 5,547 4,440 7,639
Total Expenditures S 1,854,007 $1,743,263 $110,744 $1,662,905
55
EXHIBIT B -11
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FEDERAL AND STATE GRANT PROGRAMS - COASTAL MANAGEMENT
STATEMENT OF REVENUES, EXPENDITURES.
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Revenues:
State sources
Expenditures - planning and
community development:
Planning and zoning
Deficiency of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
Budget
32,950
56
.a� ' '1 -
Favorable
1991
Actual
(Unfavorable)
Actual
$32,950
$ -
$58,100
32,970
(20)
58,100
(20)
$(20)
-
$ (20)
$ -
57
EXHIBIT B -12
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
FEDERAL AND STATE GRANT PROGRAMS - DAY CARE
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Variance -
Favorable
1991
Budget Actual
(Unfavorable)
Actual
Revenues:
State sources
$264,757 $206,017
S(58,740)
$211,168
Expenditures health and sanitation -
Day care payments
264,757 219,368
45,389
193,989
Excess (deficiency) of
revenues over expenditures
$ - (13,351)
$(13,351)
17,179
Fund balance at beginning of year
17,179
-
Fund balance at end of year
$ 3,828
$ 17,179
57
EXHIBIT B-13
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
EDUCATION
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
Total revenues
Expenditures:
Education support:
Regular instruction
Vocational education instruction
Correspondence study instruction
Special education instruction
Gifted and talented instruction
Bilingual /bicultural instruction
Support services - pupils
School administration
District administration
Operation and maintenance
Food services
Community services
Pupil activities
Pupil transportation
17,784,959
17,226,837
1992
19,235,168
8,467,537
7,937,607
529,930
7,469,335
Variance -
843,143
58,374
782,154
109,050
Favorable
1991
112,503
Budget
Actual
(Unfavorable)
Actual
Revenues:
147,689
(923)
124,084
259,651
State sources
$15,300,073
$15,353,344
S 53,271
$17,044,417
Federal through State sources
2,019,664
1,499,447
(520,217)
1,517,502
Federal direct sources
276,492
198,285
(78,207)
499,832
Licenses, permits, fees
2,601,211
40,312
2,565,720
321,730
and other local revenues:
(34,149)
321,132
28,712
14,081
Food sales
147,230
133,522
(13,708)
131,519
Pupil activities
7,000
7,566
566
7,335
Other local revenues
34,500
34,673
173
34,563
Total revenues
Expenditures:
Education support:
Regular instruction
Vocational education instruction
Correspondence study instruction
Special education instruction
Gifted and talented instruction
Bilingual /bicultural instruction
Support services - pupils
School administration
District administration
Operation and maintenance
Food services
Community services
Pupil activities
Pupil transportation
17,784,959
17,226,837
(558,122)
19,235,168
8,467,537
7,937,607
529,930
7,469,335
901,517
843,143
58,374
782,154
109,050
114,951
(5,901)
112,503
1,993,036
1,729,074
263,962
1,758,788
146,766
147,689
(923)
124,084
259,651
242,053
17,598
225,106
953,510
1,136,403
(182,893)
924,449
1,210,037
1,229,246
(19,209)
1,185,472
965,650
1,003,293
(37,643)
1,141,192
2,641,523
2,601,211
40,312
2,565,720
321,730
355,879
(34,149)
321,132
28,712
14,081
14,631
16,057
444,996
462,172
(17,176)
399,397
548,450
537,173
11,277
456,062
Total expenditures 18,992,165 18,353,975
Excess (deficiency) of revenues over expenditures (1,207,206) (1,127,138)
Operating transfers in 3,000,000 3,000,000
Operating transfers out (2,128,620) (2,179,346)
Net operating transfers
Deficiency of revenues and operating
transfers in over expenditures and
operating transfers out
Fund balance at beginning of year
Adjustment to reserve for fuel inventory
Fund balance at end of year
638,190 17,481,451
80,068 1,753,717
- 2,100,000
(50,726) (4,507,347)
871,380 820,654 (50,726) (2,407,347)
S (335,826) (306,484) S 29,342 (653,630)
941,749 1,630,971
4,964 (35,592)
$ 640,229 $ 941,749
58
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
LAND SALES
STATEMENT OF REVENUES, EXPENDITURES.
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
EXHIBIT B -14
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Land sale proceeds
S 370,000
S 431,843
$ 61,843
$ 581,519
Licenses, permits, fees
and other local revenues:
Penalty and interest
-
370
370
-
Gravel sales
40,000
33,958
(6,042)
131,814
Other
173,490
250
(173,240)
-
583,490
466,421
(117,069)
713,333
Investment income
100,000
66,755
(33,245)
140,834
Total revenues
683,490
533,176
(150,314)
854,167
Expenditures -
General administration:
Personnel services
-
2,432
(2,432)
-
Contracted services
157,320
515
156,805
10,979
Support goods and services
44,500
8,687
35,813
27,950
Capital improvements:
General
-
37,000
(37,000)
380
Total expenditures
201,820
48,634
153,186
39,309
Excess of revenues over expenditures
481,670
484,542
2,872
814,858
Operating transfers out
(481,670)
(481,670)
-
(1,301,730)
Net operating transfers
(481,670)
(481,670)
-
(1,301,730)
Excess (deficiency) of revenues and
operating transfers in over
expenditures and operating
transfers out
$ -
2,872
$ 2,872
(486,872)
Fund balance at beginning of year
1,553,896
2,040,768
Fund balance at end of year
$1,556,768
S 1,553,896
59
EXHIBIT B -15
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
BUILDINGS AND GROUNDS
STATEMENT OF REVENUES, EXPENDITURES.
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
AMC
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Revenues:
Investments and property:
Rental
$ 273,620
S 272,663
S (957)
$ 274,025
Interest income
15,000
6,572
(8,428)
24,058
Miscellaneous income
106,455
-
(106,455)
560
Total revenues
395,075
279,235
(115,840)
298,643
Expenditures - general administration:
School buildings
400,000
251,934
148,066
340,973
Borough building
332,575
255,634
76,941
245,312
Apartments
32,500
18,253
14,247
9,429
Refuse collection and disposal
16,000
-
16,000
19,858
Parks operation and maintenance
14,000
6,342
7,658
14,457
Total expenditures
795,075
532,163
262,912
630,029
Deficiency of revenues over expenditures
(400,000)
(252,928)
147,072
(331,386)
Operating transfers in
400,000
300,000
(100,000)
460,000
Net operating transfers
400,000
300,000
(100,000)
460,000
Excess of revenues and operating transfers
in over expenditures
$ -
47,072
$ 47,072
128,614
Fund balance at beginning of year
391,056
262,442
Fund balance at end of year
S 438,128
S 391,056
AMC
Revenues:
Property taxes
Total revenues
Expenditures - general administration:
Electricity
Capital outlay
Total expenditures
Excess of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
WOODLAND ACRES LIGHTING
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Budget
$7,380
7,380
3,000
4,380
7,380
S -
61
EXHIBIT B -16
Favorable
1991
Actual
(Unfavorable)
Actual
$9,231
$ 1,851
57,323
9,231
1,851
7,323
4,336
(1,336)
1,772
-
4,380
4,380
4,336
3,044
6,152
4,895
$ 4,895
1,171
1,171
-
$6,066
$1,171
EXHIBIT B -16
EXHIBIT B -17
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
COMMUNITY AND REGIONAL AFFAIRS
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
1992
Revenues:
Miscellaneous
Total revenues
Expenditures - general administration:
Support goods and services
Total expenditures
Deficiency of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
$ (2,526)
62
Variance -
Favorable
Budget
Actual
(Unfavorable)
f 7,000
$ 2,470
$ (4,530)
7,000
2,470
(4,530)
7,000
4,996
2,004
7,000
4,996
2,004
S -
(2,526)
S (2,526)
$ (2,526)
62
KODIAK ISLAND BOROUGH
SPECIAL REVENUE FUNDS
OIL SPILL CLEANUP
STATEMENT OF REVENUES. EXPENDITURES.
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
Revenues:
Exxon reimbursements
State sources -
Department of Environmental Conservation grants
Department of Community and Regional Affairs grants
Other sources
Total revenues
Expenditures - oil spill clean up:
Personal services
Fringe benefits
Contracted services
Support goods and services
Capital outlay
Legal fees
Disbursements to villages
Total expenditures
Excess (deficiency) of revenues over expenditures
Fund balance at beginning of year
Fund balance at end of year
Project Project
to Date to Date
Budget 1991
$2,000,000 $1,200,151
2,560,000 2,271,784
13,600 13,600
- 2,670
4,573,600 3,488,205
555,170 532,537
9,330 69,025
2,262,600 1,551,258
- 30,373
10,000 169,806
1,936,500 1,116,401
4,773,600 3,469,400
$ (200,000 18,805
S 18,805
63
EXHIBIT B -18
Project Variance -
1992 to Date Favorable
Actual 1992 (Unfavorable)
$ - $1,200,151 S (799,849)
65,496 2,337,280 (222,720)
- 13,600 -
2,670 2,670
65,496 3,553,701 (1,019,899
12,985 545,522 9,648
4,841 73,866 (64,536)
19,361 19,361 (19,361)
6,063 1,557,321 705,279
- 30,373 (30,373)
- 169,806 (159,806)
23,294 1,139,695 796,805
66,544 3,535,944 1,237,656
(1,048) 17,757 S$ 2s
18,805 -
S17,757 $ 17,757
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.
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.
11 65
EXHIBIT C -1
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
66
Totals
School
Bonds
Other
1992
1991
ASSETS
Equity in central treasury
$ 378
$ 91,327
S 91,705
$ 508,876
Temporary cash investments
6,043,724
-
6,043,724
6,508,945
Cash with fiscal agent
-
-
-
110,285
Receivable from State of Alaska
622,388
-
622,388
239,782
Due from general fund
-
100,000
100,000
-
Accrued interest receivable
59,990
-
59,990
114,751
$6,726,480
$191,327
$6,917,807
$7,482,639
LIABILITIES AND FUND BALANCES
Accounts payable
$ -
$ -
$ -
$ 7,031
Due to other funds
170,000
-
170,000
-
Total Liabilities
170,000
-
170,000
7,031
Fund Balances:
Unreserved -
Designated for subsequent
year expenditures
6,556,480
191,327
6,747,807
7,475,608
$6,726,480
$191,327
$6,917,807
$7,482,639
66
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES. EXPENDITURES
TRANSFERS AND CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
EXHIBIT C -2
67
Totals
School
Bonds
Other
1992
1991
Revenues:
Investments and property -
Interest income
S 347,882
E
S 347,882
S 472,101
Total revenues
347,882
347,882
472,101
Expenditures:
Debt service:
Principal
1,685,833
-
1,685,833
1,595,833
Interest
843,656
-
843,656
947,381
Fiscal agent fees
24,827
-
24,827
71,974
Refunding bond issuance costs
136,273
-
136,273
-
Other
4,162
4,162
46
Total expenditures
2,694,751
-
2,694,751
2,615,234
Deficiency of revenues
over expenditures
(2,346,869)
(2,346,869)
(2,143,133)
Other financing sources:
Operating transfers in:
General fund
-
15,774
15,774
326
Special revenue funds:
Mental Health Center
-
9,132
9,132
16,562
Education
2,179,346
-
2,179,346
4,507,348
Fire Service District Area 1
-
-
-
-
Proceeds of refunding bonds
4,875,000
-
4,875,000
-
Total other financing sources
7,054,346
24,906
7,079,252
4,524,236
Other financing uses:
Operating transfers out:
Special revenue funds:
Fire Service District Area 1
-
1,457
1,457
685
Capital projects funds
720,000
-
720,000
1,740,230
Payment to refunded
bond escrow agent
4,738,727
-
4,738,727
-
Total other financing uses
5,458,727
1,457
5,460,184
1,740,915
Net other financing sources
1,595,619
23,449
1,619,068
2,783,321
Excess (deficiency) of
revenues and operating
transfers in over expend-
itures and operating
transfers out
(751,250)
23,449
(727,801)
640,188
Fund balances at beginning of year
7,307,730
167,878
7,475,608
6,835,420
Fund balance at end of year
S 6,556,480
S 191,327
S 6,747,807
S 7,475,608
EXHIBIT C -2
67
EXHIBIT C -3
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
SCHOOL BONDS
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Variance -
Favorable 1991
Budget Actual (Unfavorable) Actual
Revenues:
Investments and property -
Interest income $ 350,000 $ 347,882 $ (2,118) S 472,101
Total revenues 350,000 347,882 (2,118) 472,101
Expenditures:
Debt service:
Principal
1,650,840
1,685,833
(34,993)
1,595,833
Interest
970,000
843,656
126,344
947,381
Fiscal agent fees
100,000
24,827
75,173
71,974
Refunding bond
issuance costs
-
136,273
(136,273)
-
Other
279,160
4,162
274,998
46
Total expenditures
3,000,000
2,694,751
305,249
2,615,234
Deficiency of revenues over
expenditures
(2,650,000)
(2,346,869)
303,131
(2,143,133)
Other financing sources (uses):
Operating transfers in
2,140,000
2,179,346
39,346
4,507,348
Proceeds of refunding bonds
-
4,875,000
4,875,000
-
Payment to refunded
bond escrow agent
-
(4,738,727)
(4,738,727)
Operating transfers out
(720,000)
(720,000)
-
(1,740,230)
Net other financing sources
1,420,000
1,595,619
175,619
2,767,118
Excess (deficiency) of
revenues and operating
transfers in over expend-
itures and operating
transfers out
$(1,230,000)
(751,250)
S 478,750
623,985
Fund balance at beginning of year
7,307,730
6,683,745
Fund balance at end of year
S 6,556,480
S 7,307,730
68
Operating transfers in:
General fund
Special revenue funds:
Mental Health Center
Fire Service District Area 1
Total operating transfers in
Operating transfers out:
Special revenue funds:
Fire Service District Area 1
Total operating transfers out
Net operating transfers
Fund balance at beginning of year
Fund balance at end of year
KODIAK ISLAND BOROUGH
DEBT SERVICE FUNDS
OTHER
STATEMENT OF REVENUES, EXPENDITURES.
TRANSFERS AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Variance -
Favorable
Budget Actual (Unfavorable)
S 8,000
E 15,774 S 7,774
6,000
9,132 3,132
1,000
- (1,000)
15,000
24,906 9,906
(1,457)
$15,000
I-VI
(1,457)
23,449
167,878
$191,327
(1,457)
(1,457)
S 8,449
EXHIBIT C-4
1991
Actual
S 326
16,562
16,888
(685)
(685)
16,203
151,675
$167,878
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.
71
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
ASSETS
Equity in central treasury
Temporary investments
Receivables:
State of Alaska
Accrued interest
Accounts receivable
Due from other funds
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Retainages payable
Due to general fund
Deferred revenue
Total liabilities
Fund Balances:
Reserved for encumbrances
Unreserved -
Designated for subsequent year expenditures
Undesignated
Total fund balance
72
Various School
Borough Bond
Projects Improvements
S 38,562 S 47,112
2,521,420 361,148
26,375 999
204,827 -
$2,791,184 $409,259
$ 33,311 $ -
24,656 -
237,600 -
295,567
934,874 -
1,560,743 -
- 409,259
2,495,617 409,259
$2,791,184 $409,259
EXHIBIT D -1
73
Totals
School
Equipment
State
School
and
Capital
Major
Furnishings
Grants
Maintenance
1992
1991
$ -
S 179,453
$ 1,336
S 266,463
$ 412,803
-
200,000
1,568,820
4,651,388
4,026,877
-
126,182
-
126,182
12,889
-
451
4,386
32,211
47,368
-
-
-
204,827
-
28,391
50,000
-
78,391
152,670
S 28,391
S 556,086
S 1,574,542
S 5,359,462
S 4,652,607
S -
S 1,484
$ -
S 34,795
$ 33,447
-
30,937
-
55,593
24,170
-
-
20,000
257,600
-
-
483,368
-
483,368
542,572
-
515,789
20,000
831,356
600,189
-
40,297
-
975,171
709,443
-
-
-
1,560,743
1,426,538
28,391
-
1,554,542
1,992,192
1,916,437
28,391
40,297
1,554,542
4,528,106
4,052,418
S 28,391
S 556,086
S 1,574,542
S 5,359,462
S 4,652,607
73
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES.
EXPENDITURES, TRANSFERS AND CHANGES
IN FUND BALANCES (DEFICITS)
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
74
Various
School
Borough
Bond
Projects
Improvements
Revenues:
State sources
$ -
f -
Licenses, permits, fees and other local revenues
505
-
Investments and property
89,562
18,854
Insurance proceeds
-
Asbestos settlement
47,196
-
Roof claim settlement
631,095
-
Other
-
1,000
Total revenues
768,358
19,854
Expenditures:
Capital improvements:
Schools
1,279,702
23,125
General
119,370
-
Total expenditures
1,399,072
23,125
Excess (deficiency) of revenues
over (under) expenditures
(630,714)
(3,271)
Operating transfers in
1,042,000
-
Operating transfers out
'
Net operating transfers
1,042,000
-
Excess (deficiency) of revenues and
operating transfers in over expenditures
operating transfers out
411,286
(3,271)
Fund balances at beginning of year
2,084,331
412,530
Fund balances at end of year
$ 2,495,617
$ 409,259
74
EXHIBIT D-2
75
Totals
School
Equipment
State
School
and
Capital
Major
Furnishings
Grants
Maintenance
1992
1991
S -
S 799,971
S -
S 799,971
S 266,774
24,000
-
-
24,505
25,072
-
26,418
82,475
217,309
236,608
-
-
-
-
10,612
-
-
-
47,196
216,710
-
-
-
631,095
-
-
-
-
1,000
-
24,000
826,389
82,475
1,721,076
755,776
6,118
-
-
1,308,945
1,038,556
-
1,229,767
-
1,349,137
1,167,188
6,118
1,229,767
-
2,658,082
2,205,744
17,882
(403,378)
82,475
(937,006)
(1,449,968)
-
470,694
-
1,512,694
3,608,730
-
-
(100,000)
(100,000)
(740,000)
-
470,694
(100,000)
1,412,694
2,868,730
17,882
67,316
(17,525)
475,688
1,418,762
10,509
(27,019)
1,572,067
4,052,418
2,633,656
$28,391
S 40,297
51,554,542
$4,528,106
S 4,052,418
75
KODIAK ISLAND BOROUGH
CAPITAL PROJECTS FUNDS
SCHEDULE OF CAPITAL PROJECTS
YEAR ENDED JUNE 30, 1992
76
AcoroDriations
Total
Project
Status
Prior
1992 Aourooriations
Capital Projects - Education
410 -404
Work of Art - Auditorium
Open
S 33,090
$ -
S 33,090
410-405
Roof, East Elementary
Complete
400,000
-
400,000
410 -415
Asbestos Removal Program
Open
75,000
-
75,000
410 -417
School Pedestrian Project
Complete
92,000
-
92,000
410 -421
School Site Acquisition
open
400,000
(138,000)
262,000
410 -431
East Elementary Siding /Repair
Open
50,000
-
50,000
410 -432
East Elementary Lighting
Complete
30,000
-
30,000
410-433
East Elementary Storm Drain
Open
20,000
-
20,000
410 -434
Junior High Steps Repair
Complete
12,000
(7,293)
4,707
410 -435
Main Sidewalk Repair
Complete
15,000
(11,433)
3,567
410 -436
Ouzinkie Roof Repair
Open
65,000
30,000
95,000
410-437
Port Lions Shop Porch Dormers
Open
30,000
-
30,000
410 -438
Port Lions Paint
Open
25,000
-
25,000
410 -441
Old Harbor School Repair
Open
525,000
-
525,000
410 -442
High School Alteration I
Complete
475,000
(41,000)
434,000
410 -446
High School Roof Maintenance
Open
-
30,000
30,000
410 -447
Main Elementary Roof
Open
-
1,000,000
1,000,000
410 -448
Chiniak School Water System
Open
-
20,000
20,000
410 -450
Ouzinkie School Paint
Open
-
30,000
30,000
410 -451
High School Alteration 11
Open
-
820,000
820,000
410 -454
Larsen Bay School AHU
Open
-
75,000
75,000
410 -457
High School Alteration III
Open
-
110,324
110,324
420-501
Peterson Elementary
Open
509,860
-
509,860
420 -502
Old Harbor School Fencing
Complete
20,000
-
20,000
420 -503
Landscaping - Port Lions
Open
15,000
15,000
Total Education
2.791.950
1.917.598
4.709.548
Capital Projects - Health
410 -402
Hospital Construction
Open
123,810
-
123,810
410 -428
Hospital Oil Spill
Open
100,000
50,000
150,000
410-443
Hospital Hot Water Tanks
Open
-
110,000
110,000
410-444
Hospital Laundry
Complete
-
10,040
10,040
430 -605
Hospital Design 8 Development
Open
1,000,000
-
1,000,000
430-609
Hospital Equipment
Open
-
50,000
50,000
Total Health
1.223,810
220,040
1,443,850
Capital Projects - Roads
410 -412
Rezanof Overlay
Cancelled
295,000
(295,000)
-
410 -418
Chiniak Subdivision
Open
389,770
-
389,770
430 -601
Lakeside Improvement
Open
783,590
-
783,590
430 -602
Sharatin Road
Open
791,320
50.000
841,320
Total Roads
2.259.680
(245,000
2.014,680
Capital Projects - Other
410 -406
Smokey's Clean Up
Open
42,000
-
42,000
410 -419
King Crab - RFP
Open
56,000
22,000
78,000
410 -423
Drainage Plan Air Photos
Open
31,050
-
31,050
410 -425
Dumpster Pads
Open
44,500
-
44,500
410 -426
Parks Expansion
Complete
40,000
-
40,000
410 -427
New Computer Acquisition
Open
540,500
-
540,500
410 -429
New Parks
Open
40,000
-
40,000
410 -430
Smokey's Fence
Open
50,000
20,000
70,000
410 -439
Borough Offices Paint
Open
15,000
-
15,000
410-440
Borough Buildings Paint
Open
60,000
-
60,000
410-449
Underground Tanks
Complete
-
22,362
22,362
410 -452
Cold Weather Training Review
Open
-
19,068
19,068
410 -453
KIB Apts. Fire Code Upgrade
Open
-
70,000
70,000
410 -456
Selief Lane Drainage
Open
-
35,000
35,000
430-607
Salonie Creek
Open
-
520,000
520,000
430 -613
Selief Lane
Open
-
75,000
75,000
430-615
LEPC Grant
Open
9,300
-
9,300
430 -616
Waste Characterization
Open
-
40,000
40,000
430 -618
Emergency Medical Equipment
Open
-
5,000
5,000
430 -619
CAP Hanger I
Open
-
60,000
60,000
550 -753
Cold Weather Training Construction
Open
-
925,000
925,000
430 -620
Rural Development Assistance
Open
-
30.000
30.000
Total Other
928.350
1,843.430
2.771,780
Total Capital Projects
$7,203,790
$3,736,068
510
76
EXHIBIT D-3
77
Expenditures
Total
Unexpended
Current
Unencumbered
Prior
1992
Expenditures
Balance
Encumbrances
Balance
$ 4,500
S 4,500
$ 9,000
$ 24,090
$ -
S 24,090
386,252
2,920
389,172
10,828
-
10,828
42,389
21,082
63,471
11,529
-
11,529
91,566
434
92,000
220,681
71,803
292,484
(30,484)
-
(30,484)
-
931
931
49,069
28,698
20,371
1,200
22,215
23,415
6,585
-
6,585
-
-
-
20,000
-
20,000
-
4,707
4,707
-
-
-
3,567
3,567
1,102
4,806
5,908
89,092
-
89,092
702
5,468
6,170
23,830
-
23,830
153
309
462
24,538
-
24,538
51,720
405,530
457,250
67,750
-
67,750
50,577
374,919
425,496
8,504
-
8,504
-
4,969
4,969
25,031
-
25,031
-
264,588
264,588
735,412
340,083
395,329
-
-
-
20,000
-
20,000
-
705
705
29,295
-
29,295
-
90,674
90,674
729,326
499,895
229,431
-
4,564
4,564
70,436
53,216
17,220
-
11
11
110,313
-
110,313
27,864
3,844
31,708
478,152
-
478,152
719
19,281
20,000
872
872
14,128
14,128
880,297
1.311.827
2.192.124
2.517,424
921.892
1,595,532
-
-
-
123,810
-
123,810
73,364
11,948
85,312
64,688
-
64,688
-
6,244
6,244
103,756
-
103,756
10,040
10,040
940,565
26,464
967,029
32,971
-
32,971
-
8.657
8,657
41,343
-
41.343
1,013,929
63,353
1.077,282
366,568
366,568
244,132
-
244,132
145,638
-
145,638
518,787
3,663
522,450
261,140
-
261,140
27,791
609.658
637,449
203.871
94,316
109.555
790,710
613,321
1,404,031
610,649
94,316
516.333
28,179
2,814
30,993
11,007
-
11,007
49,786
15,161
64,947
13,053
12,982
71
20,412
-
20,412
10,638
-
10,638
10,118
-
10,118
34,382
-
34,382
29,223
11,256
40,479
(479)
-
(479)
522,463
17,056
539,519
981
-
981
1,022
14,776
15,798
24,202
-
24,202
-
858
858
69,142
-
69,142
77
444
521
14,479
-
14,479
1,161
1,161
2,322
57,678
-
57,678
-
15,819
15,819
6,543
-
6,543
-
9,192
9,192
9,876
-
9,876
-
-
-
70,000
-
70,000
-
-
-
35,000
-
35,000
-
500,200
500,200
19,800
-
19,800
-
-
-
75,000
-
75,000
2,544
6,530
9,074
226
-
226
-
34,314
34,314
5,686
7,529
(1,843)
-
-
-
5,000
-
5,000
-
40,000
40,000
20,000
-
20,000
-
-
-
925,000
-
925,000
-
30,000
-
30,000
664,985
669,581
1,334,566
1,437,214
20,511
1,416,703
$353 3�`
S 2$ 2 6�0�
S 6.008,003
54,9
$1.036.719
$3.895.136
77
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 Hospital & Care Center. 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.
79
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
80
Totals
Sanitary
Water
Sewer
Services
Utility
Utility
Hospital
1992
1991
ASSETS
Current Assets:
Equity in central treasury
S 1,814
S 88,219
S 118,817
S 539,346
S 748,196
$ 214,326
Temporary investments
-
-
-
-
-
250,000
Other cash and cash equivalents
-
-
-
34,616
34,616
1,099,788
1,814
88,219
118,817
573,962
782,812
1,564,114
Receivables:
Customers and patients
19,002
59,518
47,194
3,150,809
3,276,523
2,532,753
Other
-
-
-
59,173
59,173
55,921
19,002
59,518
47,194
3,209,982
3,335,696
2,588,674
Less allowance for
doubtful receivables
-
(6,901)
(19,663)
(1,081,798)
(1,108,362)
(732,565)
Net receivables
19,002
52,617
27,531
2,128,184
2,227,334
1,856,109
Prepaid expenses
-
-
-
142,464
142,464
28,206
Inventories, at cost
-
-
-
209,878
209,878
190,918
Total current assets
20,816
140,836
146,348
3,054,488
3,362,488
3,639,347
Assets whose use is limited:
-
-
-
658,377
By Borough
-
-
Under malpractice funding
arrangement -held by trustee
-
-
-
624,899
624,899
257,990
By donor for specific purpose
-
-
-
10,051
10,051
73,376
Equity in central treasury
-
8,595
8,595
-
17,190
33,946
Temporary investments
-
252,837
252,837
-
505,674
500,000
Interest receivable
-
815
815
-
1,630
16,556
Due from general fund
-
100,000
100,000
-
200,000
-
Total restricted assets
-
362,247
362,247
634,950
1,359,444
1,540,245
Deposit on capital lease
-
-
-
-
-
67,976
Fixed Assets:
Land
-
-
-
40,275
40,275
40,275
Unclassified utility plant
in service
2,345,987
5,671,796
9,870,603
-
17,888,386
17,874,572
Hospital building and improvements
-
-
-
4,105,899
4,105,899
4,104,988
Equipment
316,873
-
-
2,649,387
2,966,260
2,190,677
2,662,860
5,671,796
9,870,603
6,795,561
25,000,820
24,210,512
Less accumulated depreciation
(384,624)
(865,094)
(1,290,548)
(3,293,566)
(5,833,832)
(4,847,882)
2,278,236
4,806,702
8,580,055
3,501,995
19,166,988
19,362,630
Construction work in progress
-
34,667
34,594
-
69,261
32,395
Net fixed assets
2,278,236
4,841,369
8,614,649
3,501,995
19,236,249
19,395,025
Total assets
$2,299,052
$5,344,452
$ 9,123,244
$ 7,191,433
$23,958,181
$24,642,593
80
Sanitary
Services
LIABILITIES AND FUND EQUITIES
Liabilities:
Current liabilities:
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
Totals
EXHIBIT E-1
Water Sewer
Utility Utility Hospital 1992 1991
Accounts payable
S 95,350
S 23,516
S 25,919
S 230,477
$ 375,262
$ 410,366
Customer deposits
700
23,249
-
-
23,949
34,184
Accrued expenses
15,328
-
-
392,585
407,913
286,413
Other accrued liabilities
-
50,000
50,000
730,464
'
Due to City of Kodiak
12,240
12,24 0
24,480
Due to general fund
135,000
135,000
Current portion of capital
'
lease obligation
-
-
-
82,189
82,189
24,922
246,378
59,005
38,159
755,251
1,098,793
1,486,349
'
Capital lease obligation
-
-
-
387,373
387,373
114,232
Total liabilities
246,378
59,005
38,159
1,142,624
1,486,166
1,600,581
Fund Equities:
Contributions in aid of construction:
City of Kodiak
-
189,166
40,000
-
229,166
229,166
State of Alaska
2,412,453
5,482,630
9,630,603
-
17,525,686
17,525,686
Federal Government
-
-
200,000
2,237,104
2,437,104
2,437,104
'
Kodiak Island Borough
-
-
-
1,451,544
1,451,544
1,451,544
2,412,453
5,671,796
9,870,603
3,688,648
21,643,500
21,643,500
Accumulated amortization
(378,754)
(865,047)
(1,290,407)
-
(2,534,208)
(2,127,228)
'
Net contributions in
aid of construction
2,033,699
4,806,749
8,580,196
3,688,648
19,109,292
19,516,272
Retained earnings:
'
Temporarily restricted
-
10,051
10,051
-
Undesignated
18,975
478,698
504,889
2,350,110
3,352,672
3,525,740
Total retained earnings
18,975
478,698
504,889
2,360,161
3,362,723
3,525,740
Total fund equities
2,052,674
5,285,447
9,085,085
6,048,809
22,472,015
23,042,012
Total liabilities
'
and fund equities
$2,299,052
85,344,452
$ 9,123,244
$7,191,433
523,958,181
$24,642,593
81
EXHIBIT E-2
Rev enue s:
Water sales
Sewer service charges
Refuse collection
Sanitary services fees
Patient and resident revenues
Installation charges
Other
Total revenues
Operating expenses:
Personnel services
Waste collection
Purchased water and sewer treatment
Contracted services
Repairs and maintenance
Depreciation
Installation costs
Bad debt
Supplies
Interest
General administrative
Lawsuit settlement expense
Other
Total operating expenses
Operating loss
Other income (expense):
Interest income
State revenue sharing
Loss on asset disposal
Donor restricted gifts
Total other income
Income (loss) before operating transfers
Operating transfers in
Operating transfers out
Net operating transfers
Net income (loss)
Amortization of contributions
in aid of construction
Increase (decrease) in retained earnings
Adjustment for change in year end
Retained earnings at beginning of year
Retained earnings at end of year
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
'
TRANSFERS
AND CHANGES'IN
RETAINED EARNINGS
YEAR ENDED
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR
1991
Totals
Sanitary
Water
Sewer
Services
Utility
Utility
Hospital
1992
1991
'
$ -
S 352,480
$ -
$ -
$ 352,480
$ 208,129
394,028
-
394,028
265,031
1,179,430
-
-
-
1,179,430
1,199,782
250,707
-
-
-
250,707
265,624
-
-
-
8,450,653
8,450,653
6,420,280
1,315
-
-
1,315
6,365
11,717
25.077
23.387
180,172
240,353
159.813
1,441,854
378,872
417,415
8,630,825
10,868.966
8.525.024
297,589
11,304
8,620
4,894,486
5,211,999
4,560,794
1,046,887
-
-
-
1,046,887
1,005,841
250,699
271,958
-
522,657
355,196
106,511
-
-
1,054,274
1,160,785
1,096,364
34,648
27,419
42,738
224,850
329,655
260,229
102,142
109,653
196,612
434,641
843,048
723,576
-
-
-
-
-
67,680
-
-
-
604,561
604,561
455,067
-
-
831,365
831,365
752,104
27,592
27,592
8,590
99,016
1,722
1,681
-
102,419
101,400
'
-
-
669,891
11.337
13.212
33,813
562.892
621.254
660.150
1,698.130
414.009
555.422
8,634,661
11,302,222
10,716.882
(256.276
(35.137
(138.007
(3,836
(433,256
(2.191.858
i
-
16,153
15,035
63,145
94,333
240,892
'
-
-
-
134,460
134,460
134,460
-
-
-
(2,554)
(2,554)
(938)
-
-
-
11.774
11,774
93.249
-
16.153
15,035
206,825
238,013
467.663
1
(256.276
(18,984
(122,972
202,989
(195,243
(1.724.195
18,000
87,500
87,500
-
193,000
,
(20.694
(200,000
(25,000
(245,694
(10.000
(2.694
(112,500
62.500
(52.694
(10.000
(258,970)
(131,484)
(60,472)
202,989
(247,937)
(1,734,195)
100.744
109,645
196.590
-
406.979
383.040
(158,226)
(21,839)
136,118
202,989
159,042
(1,351,155)
,
-
-
-
(322,059)
(322,059)
-
R
177.201
500,537
368,771
2,479.231
3,525,740
4,876,895
' a
S 18.975
S 478.698
$ 504,889
$2.360,161
$ 3,362.723
EE 3,5
I �
82 '
KODIAK ISLAND BOROUGH
ENTERPRISE FUNDS
COMBINING STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
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
Other
Prepaid expenses
Inventories, at cost
Due from other funds
Accounts payable
Customer deposits
Estimated third party payor settlements
Accrued expenses
Due to the City of Kodiak
Other accrued liabilities
Total adjustments
Net cash used for operating activities
Cash flows from noncapital financing activities:
State of Alaska, Revenue Sharing payments received
Operating transfers (out to) in from other funds
Net cash provided by (used for)
noncapital financing activities
Cash flows from capital and related financing
activities:
Acquisition and construction of capital assets
Proceeds from sate of equipment
Principal payments made on capital lease
Receipt of gifts restricted by donor for
capital purchases
Deposit made on capital lease
Net cash used for capital and
related financing activities
Cash flows from investing activities:
Change in assets whose use is limited:
By Borough
Under malpractice funding arrangement
By donor for specific purpose
Interest and dividends on investments
Net cash provided by investing activities
Net change in cash and cash equivalents
Adjustment for change in year -end
' Cash and cash equivalents at beginning
of year
Cash and cash equivatents at end of year
EXHIBIT E -3
Totals
Sanitary Water Sewer
Services Utility Utility Hospital 1992 1991
S(256,276 S (35.137 $(138.007 $ (3,836 $ (433,256 $(2,191,858
102,142
109,653
196,612
434,641
-
(1)
-
604,561
358
(38,757)
5,788
(142,292)
-
-
-
76,618
-
-
-
(8,264)
-
-
-
(15,874)
135,000
(100,000)
(100,000)
(139,400)
13,080
(63,641)
4,934
(145,284)
-
(10,235)
-
-
-
-
-
(7,795)
5,336
-
-
(58,092)
-
12,240
12,240
-
-
-
(669,891
255,916 (90,741 119,574 (71,072
(360 (125,878 (18,433 (74,908
843,048 723,576
604,560 356,000
(174,903) (809,056)
76,618
48,394
(8,264)
(13,751)
(15,874)
22,584
(204,400)
-
(190,911)
70,167
(10,235)
19,743
(7,795)
(47,644)
(52,756)
(59,763)
24,480
-
(669,891
708,851
213,677
1,019,101
(219,579
(1,172,757
- 134,460 134,460 159,460
(2,694 (112,500 62,500 - (52,694 (10,000
(2,694 (112,500 62,500 134,460 81,766 149,460
(86,717) (10,195) (18,396) (93,467) (208,775) (146,142)
560 560 -
(101,834) (101,834) (12,485)
11,774 11,774 93,249
(67,976
(86,717 (10,195 (18,396 (182,967 (298,275 (133,354
- 23,616 22,498
- 23,616 22,498
(89,771) (224,957) 48,169
91,585 574,608
S 1,814 S$ 34 9,651
-
-
109,190
(295,786)
(295,786)
(257,990)
(904)
(904)
(73,376)
63,145
109,259
240,129
(233,545
(187,431
17,953
(356,960)
(623,519)
(1,138,698)
(168,866)
(168,866)
-
332,079 1,099,788 2,098,060 3,236,758
S 380,248 S 573,962 $1,3� SS 2,0
83
EXHIBIT E-4
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUNDS
BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
84
1992
1991
ASSETS
Current Assets:
Equity in central treasury
S 1,814
S 91,585
Customer receivables
19,002
19,360
Total current assets
20,816
110.945
Fixed Assets:
Unclassified plant in service
2,345,987
2,332,173
Equipment
316,873
243.970
2,662,860
2,576,143
Less accumulated depreciation
(384.624
(282,482
Net fixed assets
2,278.236
2,293,661
Total assets
$2,299,052
$2.404.606
LIABILITIES AND FUND EQUITY
Liabilities:
Current Liabilities:
Accounts payable
S 95,350
S 82,270
Customer deposit
700
700
Accrued expenses
15,328
9,992
Due to general fund
135,000
Total current liabilities
246.378
92.962
Fund Equity:
Contributions in aid of construction:
State of Alaska
2,412,453
2,412,453
Accumulated amortization
(378,754
(278,010
Net contributions in aid of construction
2,033,699
2,134,443
Retained earnings, undesignated
18.975
177.201
Total fund equity
2,052,674
2.311,644
Total liabilities and fund equity
$2.299.052
$2,404,606
84
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
STATEMENT OF REVENUES. EXPENDITURES,
TRANSFERS AND CHANGES IN RETAINED EARNINGS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
Revenues:
Refuse collection
Sanitary service fees
Other
Total revenues
Operating expenses:
Personnel services
Waste collection
Contracted services
Repairs and maintenance
Depreciation
Support - goods and services
Installation costs
Recycling effort
Total operating expenses
Operating loss
Other expense:
Interest
Loss before operating transfers
Operating transfers in
Operating transfer out
Net operating transfers
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
EXHIBIT E-5
1991
Actual
51,199,782
265,624
8,913
1,474,319
250,716
1992
(46,873)
294,916
900,000
Variance -
(146,887)
1,005,841
Favorable
Budget
Actual
(Unfavorable)
$1,146,000
$1,179,430
$ 33,430
263,000
250,707
(12,293)
6,000
11,717
5,717
1,415,000
1,441,854
26.854
EXHIBIT E-5
1991
Actual
51,199,782
265,624
8,913
1,474,319
250,716
297,589
(46,873)
294,916
900,000
1,046,887
(146,887)
1,005,841
108,000
106,511
1,489
8,170
34,000
34,648
(648)
43,036
77,923
102,142
(24,219)
77,923
89,900
99,016
(9,116)
79,655
131,550
-
131,550
-
5,000
11,337
(6,337
19,746
1,597,089
1,698,130
(101,041
1,529,287
(182,089)
(256,276)
(74,187)
(54,968)
-
-
113
(182,089
(256,276
(74,187
(55,081
18,000
18,000
-
-
(20,694
(20,694
-
(10,000
(2,694
(2,694
-
(10,000
S (1�
(258,970)
S (74,187
(65,081)
100,744
76,805
(158,266)
11,724
177,201
165,477
S 18,975
$
85
EXHIBIT E -6
KODIAK ISLAND BOROUGH
SANITARY SERVICES ENTERPRISE FUND
STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
86
1992
1991
Operating loss
$(256,276
S(54,968
Adjustments to reconcile operating loss to net
cash provided by operating activities:
Depreciation
102,142
77,923
Changes in assets and liabilities:
Receivable from customers
358
(10,861)
Accounts payable
13,080
44,816
Customer deposits
-
700
Accrued expenses
5,336
7,014
Due to general fund
135,000
-
Total adjustments
255,916
119,592
Net cash provided by (used for) operating activities
(360
64,624
Cash flows from noncapital financing activities:
Operating transfers out to other funds, net
(2,694
10,090)
Net cash used for noncapital financing activities
(2,694
1( 0,000
Cash flow from capital and related financing activities:
Acquisition and construction of capital assets
8( 6.717
Net cash used for capital and related financing activities
8( 6,717
-
Cash flows from investing activities:
Interest and dividends paid on investments
-
_(113)
Net cash used in investing activities
(113
Net change in cash and cash equivalents
(89,771)
54,511
Cash and cash equivalents at beginning of year
91,585
37,074
Cash and cash equivalents at end of year
$ 1,814
$ 91,585
86
ASSETS
Current Assets:
Equity in central treasury
Temporary investments
Total cash and investments
Investment interest receivable
Customer receivables
Less allowance for doubtful receivable
Net customer receivables
Total current assets
Restricted Assets:
Equity in central treasury
Temporary investments
Interest receivable
Due from general fund
Total restricted assets
Fixed Assets:
Unclassified utility plant in service
Accumulated depreciation
Net utility plant in service
Construction work in progress
Net fixed assets
Total assets
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Accounts payable
Customer deposits
Due to City of Kodiak
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
Total liabilities and fund equity
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992 1991
S 88,219
S 57,635
-
250,000
88,219
307,635
-
8,27
59,518
20,761
(6,901
(6,902
52,617
13.859
140,836
329,771
8,595
16,973
252,837
250,000
815
8,278
100,000
-
362,247
275,251
5,671,796
5,671,796
(865,094
(755,441
4,806,702
4,916,355
34,667
16,196
4,841,369
4,932,551
$5,344,452
$5,5
S 23,516 S 87,157
23,249 33,484
12,240
59,005 120.641
189,166
189,166
5,482,630
5,482,630
5,671,796
5,671,796
(865,047
(755,401
4,806,749
4,916,395
478,698
500,537
5,285,447
5,416,932
$5,344,452
$5,537,573
EXHIBIT E -7
87
EXHIBIT E -8
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN RETAINED EARNINGS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
Variance -
Favorable
Budget Actual (Unfavorable)
Revenues:
Water sales
S 326,400
$ 352,480
$ 26,080
Installation charges
2,500
1,315
(1,185)
Other
100
25,077
24,977
Total revenues
329,000
378,872
49,872
Operating expenses:
Personnel services
25,000
11,304
13,696
Contracted installation
-
-
-
Purchased water
230,400
250,699
(20,299)
Repairs and maintenance
37,000
27,419
9,581
Depreciation
29,600
109,653
(80,053)
Testing
7,900
-
7,900
Advertising and hearings
500
25
475
Printing and binding
500
697
(197)
Office supplies and postage
1,100
748
352
Installation costs
70,000
-
70,000
Fuel
-
252
(252)
Small tools
-
13,212
(13,212)
Continuing education
2,000
-
2,000
Total operating expenses
404,000
414,009
(10,009)
Operating loss
(75,000)
(35,137)
39,863
Other income:
Interest earnings
5,000
16,153
11,153
Loss before operating transfers
(70,000)
(18,984)
51,016
Operating transfers in
-
87,500
87,500
Operating transfers out
(200,000)
(200,000)
-
Net operating transfers
(200,000)
(112,500)
87,500
Net loss
S(270,000)
(131,484)
$138,516
Amortization of contributions
in aid of construction
109,645
Decrease in retained earnings
(21,839)
Retained earnings at beginning of year
500,537
Retained earnings at end of year
$ 478,698
1991
Actual
S 208,129
6,335
10,776
225,240
21,967
7,593
167,002
32,312
109,653
173
310
1,516
67,680
400
408,606
(183,366)
32,398
(150,968)
(150,968)
109,645
(41,323)
541,860
S 500,537
88
EXHIBIT E-9
KODIAK ISLAND BOROUGH
WATER ENTERPRISE FUND
'
STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
1992
1991
Operating loss
$ (35,137
83.366
$083.366
Adjustments to reconcile operating loss to net
cash provided by operating activities:
Depreciation
109,653
109,653
Change in provision for uncollectible accounts
(1)
' Changes in assets and liabilities:
Receivable from customers
(38,757)
Due from general fund
(100,000)
-
Receivable from State of Alaska
-
(7,359)
Accounts payable
(63,641)
75,479
Customer deposits
(10,235)
19,043
Due to City of Kodiak
12,240
Total adjustments
(90,741
196,816
' Net cash provided by operating activities
(125,878
13,450
Cash flows from noncapital financing activities:
Operating transfers out to other funds, net
(112,500
Net cash used for noncapital financing activities
(112,500
-
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
(10,195
(506
'
Net cash used for capital and related financing activities
00.195
(506
Cash flows from investing activities:
Interest and dividends paid on investments
23,616
32,017
'
Net cash provided by investing activities
23,616
32,017
Net change in cash and cash equivalents
(224,957)
44,961
' Cash and cash equivalents at beginning of year
574,608
529,647
Cash and cash equivalents at end of year
S 349,651
S 574,608
89
EXHIBIT E -10
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
BALANCE SHEET
JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
90
1992
1991
ASSETS
Current Assets:
Equity in central treasury
S 118,817
S 65,106
Customer receivables
47,194
52,981
Less allowance for doubtful accounts
(19,663)
(19,663)
Net customer receivables
27,531
33,318
Total current assets
146,348
98,424
Restricted Assets:
Equity in central treasury
8,595
16,973
Temporary investments
252,837
250,000
Interest receivable
815
8,278
Due from general fund
100,000
-
Total restricted assets
362,247
275,251
Fixed Assets:
Unclassified utility plant in service
9,870,603
9,870,603
Accumulated depreciation
(1,290,548)
(1,093,935)
Net utility plant in service
8,580,055
8,776,668
Construction work in progress
34,594
16,199
Net fixed assets
8,614,649
8,792,867
Total assets
$ 9,123,244
$ 9,166,542
LIABILITIES AND FUND EQUITY
Liabilities:
Current Liabilities:
Accounts payable
$ 25,919
S 20,985
Due to City of Kodiak
12,240
-
Total liabilities
38,159
20,985
Fund Equity:
Contributions in aid of construction:
City of Kodiak
40,000
40,000
State of Alaska
9,630,603
9,630,603
Federal government
200,000
200,000
9,870,603
9,870,603
Accumulated amortization
(1,290,407)
(1,093,817)
Net contributions in aid of construction
8,580,196
8,776,786
Retained earnings, undesignated
504,889
368,771
Total fund equity
9,085,085
9,145,557
Total liabilities and fund equity
S 9,123,244
S 9,166,542
90
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENDITURES,_
TRANSFERS AND CHANGES IN RETAINED EARNINGS
BUDGET AND ACTUAL
YEAR ENDED JUNE 30. 1992
WITH COMPARATIVE TOTALS FOR 1991
EXHIBIT E-11
91
1992
Variance -
Favorable
1991
Budget
Actual
(Unfavorable)
Actual
Revenues:
Sewer service charges
$374,400
S 394,028
$ 19,628
S 265,031
Installation charges
-
-
-
30
Other
-
23,387
23,387
2,923
Total revenues
374,400
417,415
43,015
267,984
Operating expenses:
Personnel services
23,000
8,620
14,380
17,351
Purchased sewer treatment
259,200
271,958
(12,758)
188,194
Repairs and maintenance
30,000
42,738
(12,738)
21,730
Depreciation
42,200
196,612
(154,412)
196,612
Operating supplies
2,000
88
1,912
347
Electric
16,000
17,429
(1,429)
19,338
Telephone
-
-
-
77
Fuel
188
(18 8)
-
Advertising and hearings
500
94
406
173
Printing and binding
500
697
(197)
310
Office supplies and postage
700
614
86
853
Capital outlay
-
13,212
(13,212)
-
Small tools
-
3,172
(3,172)
-
Continuing education
300
-
300
-
Total operating expenses
374,400
555,422
(181,022)
444,985
Operating loss
-
(138,007)
(138,007)
(177,001)
Other income:
Interest income
-
15,035
15,035
16,862
Loss before operating transfers
-
(122,972)
(122,972)
(160,139)
Operating transfers in
-
87,500
87,500
-
operating transfers out
(25,000)
(25,000)
-
-
Net operating transfers
(25,000)
62,500
87,500
-
Net loss
S(25,000)
(60,472)
$ (35,472)
(160,139)
Amortization of contributions
in aid of construction
196,590
196,590
Increase in retained earnings
136,118
36,451
Retained earnings at beginning of year
368,771
332,320
Retained earnings at end of year
S 504,889
S 368,771
91
EXHIBIT E -12
KODIAK ISLAND BOROUGH
SEWER ENTERPRISE FUND
STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR 1991
Operating loss
Adjustments to reconcile operating loss to net
cash provided by operating activities:
Depreciation
Change in provision for tncollectible accounts
Changes in assets and liabilities:
Receivable from customers
Due from other funds
Accounts payable
Due to City of Kodiak
Total adjustments
Net cash provided by operating activities
Cash flows from noncepital financing activities:
Operating transfers in from other funds, net
Net cash provided by noncapital financing activities
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
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
1992
1991
$(138,007
$(177,001
196,612
196,612
5,788
(13,490)
(100,000)
-
4,934
10,081
12,240
-
119,574
193,203
(18,433
16,202
62,500
-
62,500
(18,396
(477
08.396
(477
22,498
16,480
22,498
16,480
48,169
32,205
322,079
299,874
$ 380,248
$ 332,079
92
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
BALANCE SHEET
JUNE 30. 1992
COMPARATIVE TOTALS - DECEMBER 31, 1990
EXHIBIT E-13
Fund equities:
Contributions in aid of construction:
Federal government 2,237,104 2,237,104
Kodiak Island Borough 1,451,544 1,451,544
3,688,648 3,688,648
Retained earnings:
Temporarily restricted 10,051 -
Undesignated 2,350,110 2,479,231
Total fund equity 6,048,809 6,167,879
Total liabilities and fund equity $ 7,191,433 S 7,533,872
93
1992
1990
ASSETS
Current assets:
Equity in central treasury
S 539,346
S 1,099,788
Other cash and cash equivalents
34,616
-
573,962
1,099,788
Receivables:
Patients
3,150,809
2,439,651
Other
59,173
47,644
Less allowance for doubtful receivables
(1,081,798
(706,000
Net receivables
2,128,184
1,781,295
Prepaid expenses
142,464
28,206
Inventories, at cost
209,878
190,918
Total current assets
3,054,488
3,100,207
Assets - use of which is limited or restricted:
By Borough
-
658,377
Under malpractice funding arrangement - held by trustee
624,899
257,990
By donor for specific purpose
10,051
73,376
634,950
989,743
Deposit on capital lease
-
67,976
Fixed assets:
Land
40,275
40,275
Building and improvements
4,105,899
4,104,988
Equipment
2,649,387
1,946,707
6,795,561
6,091,970
Less accumulated depreciation
(3,293,566
(2,716,024
Net fixed assets
3,501,995
3,375,946
Total assets
S 7,191,433
SS 7,5
LIABILITIES AND FUND EQUITY
Liabilities:
Current liabilities:
Accounts payable
$ 230,477
$ 219,954
Accrued expenses
392,585
276,421
Estimated malpractice costs
50,000
730,464
Current portion - capital lease obligation
82,189
24,922
Total current liabilities
755,251
1,251,761
Capital lease obligation
387,373
114,232
1,142,624
1,365,993
Fund equities:
Contributions in aid of construction:
Federal government 2,237,104 2,237,104
Kodiak Island Borough 1,451,544 1,451,544
3,688,648 3,688,648
Retained earnings:
Temporarily restricted 10,051 -
Undesignated 2,350,110 2,479,231
Total fund equity 6,048,809 6,167,879
Total liabilities and fund equity $ 7,191,433 S 7,533,872
93
EXHIBIT E-14
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
STATEMENT OF REVENUES, EXPENDITURES,
TRANSFERS AND CHANGES IN RETAINED EARNINGS
YEAR ENDED JUNE 30, 1992
COMPARATIVE TOTALS FOR YEAR ENDED DECEMBER 31, 1990
94
1992
1990
Revenues:
Patient and resident revenues
$ 9,532,451
S 7,387,138
Less allowance for uncollectible accounts
(1,081,798
(966,858
Net patient and resident revenues
8,450,653
6,420,280
Other
180,172
137,201
Total operating revenues
8,630,825
6,557,481
Operating expenses:
Salaries and wages
3,730,348
3,218,390
Employee benefits
1,164,138
1,008,170
Professional fees
310,628
501,159
Purchased services
743,646
579,442
Repair, maintenance, and rentals
224,850
163,151
Depreciation
434,641
339,388
Bad debts
604,561
455,067
Supplies
831,365
752,104
Interest
27,592
8,590
Lawsuit settlement expenses
-
669,891
Other
562,892
638,652
Total operating expenses
8,634,661
8,334,004
Operating loss
(3,836
(1,776,523
Other income (expense):
Interest income
63,145
191,745
State revenue sharing
134,460
134,460
Loss on asset disposal
(2,554)
(938)
Donor - restricted gifts
11,774
93,249
Total other income
206,825
418,516
Net income (loss)
202,989
(1,358,007)
Adjustment for change in year end
(322,059)
-
Retained earnings at beginning of year
2,479,231
3,837,238
Retained earnings at end of year
S 2,360,161
$ 2,479,231
94
EXHIBIT E-15
u
1 95
KODIAK ISLAND BOROUGH
HOSPITAL ENTERPRISE FUND
t
STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30, 1992
WITH COMPARATIVE TOTALS FOR
THE YEAR ENDED DECEMBER 31. 1990
'
1992
1990
operating loss
$ (3,836
5(1.776.523
Adjustments to reconcile operating loss to net cash provided by
operating activities:
Depreciation
434,641
339,388
'
Change in provision for uncollectible accounts
604,561
356,000
Changes in assets and liabilities:
Accounts receivable -
Patients
(142,292)
(777,346)
'
Other
76,618
48,394
Prepaid expenses
(8,264)
(13,751)
Inventories, at cost
(15,874)
22,584
Accounts payable
(145,284)
(60,209)
Estimated third-party payor settlements
(7,795)
(47,644)
'
Accrued expenses
(58,092)
(66,777)
Other accrued liabilities
(669,891)
708,851
Due to general fund
(139,400
-
'
Total adjustments
(71,072
509.490
Net cash used for operating activities
(74,908
(1,267.033
Cash flows from noncapital financing activities:
t
State of Alaska, Revenue Sharing payments received
134.460
159.460
Net cash used for noncapitaL financing activities
134.460
159.460
Cash flows from capital and related financing activities:
'
Acquisition and construction of capital assets
(93,467)
(145,159)
Proceeds from sale of equipment
560
-
Principal payments made on capital lease
(101,834)
(12,485)
Receipt of gifts restricted by donor for capital purchases
11,774
93,249
Deposit paid on capital lease
-
(67,976
'
Net cash used for capital and related financing activities
(182.967
(132,371
Cash flows from investing activities:
Change in assets whose use is limited:
'
By Borough
-
109,190
Under malpractice funding arrangement
(295,786)
(257,990)
By donor for specific purpose
(904)
(73,376)
Interest and dividends on investments
63.145
191.745
'
Net cash used for investing activities
(233,545
(30.431
Net change in cash and cash equivalents
(356,960)
(1,270,375)
'
Adjustment for change in year end
(168,866)
-
Cash and cash equivalents at beginning of year
1,099,788
2.370,163
'
Cash and cash equivalents at end of year
S 573,962
S 1,099,788
u
1 95
AGENCY FUNDS
Agency Funds are used to account for assets held by a government as an agent for
' individuals, private organizations, other governments, and /or other funds.
STUDENT ACTIVITIES FUND
This fund accounts for the operations of the various Kodiak Island Borough School
District student organizations.
DEFERRED COMPENSATION FUND
' This fund accounts for deferred compensation and accumulated earnings thereon for
participants in the Borough's Internal Revenue Code Section 457 Deferred Compensation
Plan.
1 97
EXHIBIT F -1
KODIAK ISLAND BOROUGH
AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN ASSETS,
LIABILITIES AND FUND BALANCES
YEAR ENDED JUNE 30, 1992
98
Balance at
Balance at
July 1, 1991
Additions
Deletions
June 30, 1992
TOTALS - ALL AGENCY FUNDS
ASSETS
Cash and cash equivalents
$118,502
S 24,120
$ -
$142,622
Other receivables
79
361
-
440
Investments (at market value)
710,336
126,748
-
837,084
5828,917
$151,229
S -
$980,146
LIABILITIES
Accounts payable
S 1,285
S 601
S -
S 1,886
Due to student organizations
117,296
23,880
-
141,176
Due to participants
710,336
126,748
-
837,084
$828,917
5151,229
$ -
$980,146
STUDENT ACTIVITIES FUND
ASSETS
Cash and cash equivalents
5118,502
S 24,120
$ -
$142,622
Other receivables
79
361
-
440
5118,581
S 24,481
S-
$143,062
LIABILITIES
Accounts payable
S 1,285
S 601
S -
$ 1,886
Due to student organizations
117,296
23,880
-
141,176
5118,581
S 24,481
S -
5143,062
DEFERRED COMPENSATION FUND
ASSETS
Investments (at market value)
5710,336
5126,748
S -
5837,084
LIABILITIES
Due to participants
5710,336
5126,748
S -
$837,084
98
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.
1 99
EXHIBIT G -1
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 Fund revenues
Contributions from State of Alaska
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF FIXED ASSETS BY SOURCE
JUNE 30. 1992
S 7,506,315
64,790,809
842,139
4,199,988
1.801.632
$79.140.883
547,677,896
575,516
14,139,477
3,318,128
2,953,523
10.476.343
$79.140.883
100
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS ACCOUNT GROUP
SCHEDULE OF GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
JUNE 30, 1992
EXHIBIT G -2
101
Improvements
Machinery
Other Than
and
Total
Land
Buildings
Buildings
Eguioment
Staff agencies:
Borough mayor
s 20,884
$
$ -
f -
S 20,884
Borough clerk
19,006
-
-
19,006
Finance
59,000
-
-
-
59,000
Assessing
24,232
-
-
-
24,232
Community development
96,838
-
-
-
96,838
Engineering /Facilities
66,795
-
-
66,795
Data services
586,477
-
-
586,477
Resource management
7,731
-
-
7,731
General administration
124,703
-
-
-
124,703
Building Inspections
-
-
-
-
MentaL health
59,993
-
-
59,993
Total staff agencies
1,065,659
-
-
-
1,065,659
Public safety:
Emergency preparedness
198,843
-
100,000
-
98,843
Fire Protection Area 1
720,099
-
455,584
-
264,515
Bell's Flats Fire District
616,199
-
425,655
-
190,544
Total public safety
1,535,141
-
981,239
-
553,902
Schools
59,294,591
-
59,294,591
-
-
SchooL equipment
2,580,427
-
-
-
2,580,427
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
69,943,584
110,648
64,790,809
842,139
4,199,988
Undeveloped Land
7,395,667
7,395,667
-
77,339,251
7,506,315
64,790,809
842,139
4,199,988
Construction work in progress
1,801,632
292,484
967,029
-
542,119
Total general fixed assets
$79,140,883
$7, 798,799
$65,757,838
$842.
$4,742,107
101
EXHIBIT G -3
KODIAK ISLAND BOROUGH
GENERAL FIXED ASSETS GROUP
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
BY FUNCTION AND ACTIVITY
JUNE 30, 1992
102
General Fixed
General Fixed
Assets at
Assets at
July 1. 1991
Additions
Deductions
June 30, 1992
Staff agencies:
Borough mayor
S 25,925
$ -
$ 5,041
S 20,884
Borough clerk
36,613
787
18,394
19,006
Finance
72,684
11,580
25,264
59,000
Assessing
24,232
-
-
24,232
Community development
88,380
11,514
3,056
96,838
Engineering /Facilities
94,314
-
27,519
66,795
Data services
563,799
22,678
-
586,477
Resource management
10,261
-
2,530
7,731
General administration
137,578
-
12,875
124,703
Mental health
96,258
-
36.265
59.993
Total staff agencies
1.150,044
46.559
130.944
1.065,659
Public safety:
Emergency preparedness
194,724
4,119
-
198,843
Fire Protection Area 1
711,571
8,528
-
720,099
Bells Flats Fire District
608.819
7.380
-
616.199
Total public safety
1,515,114
20.027
-
1,535,141
Schools
59,294,591
-
-
59,294,591
School equipment
2,450,634
241,301
111,508
2,580,427
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
69.878.149
307,887
242.452
69,943.584
Undeveloped land
7,358,667
37,000
-
7,395,667
Construction work in progress
1.493.112
308.520
-
1.801.632
Total general fixed assets
$78
$653,407
$242,452
$79.140.883
102
i
GENERAL LONG -TERM DEBT ACCOUNT GROUP
' This is a self- balancing account group which records the
long -term debt. This debt is payable from monies presently
Funds and from future general Borough revenues. The debt
and credit of the Borough.
Borough's unmatured general
in the various Debt Service
is backed by the full faith
103
EXHIBIT H -1
104
KODIAK ISLAND BOROUGH
GENERAL LONG -TERM DEBT ACCOUNT GROUP
SCHEDULE OF LONG-TERM DEBT
JUNE 30, 1992
WITH COMPARATIVE FIGURES FOR 1991
1992
1991
Amount available and to be provided for
the payment of general long -term debt:
Amount available in Debt Service Funds:
Refunding bonds
S 6,556,480
S 7,307,730
Accrued annual leave
191,327
167,878
6,747,807
7,475,608
Amount to be provided:
Refunding bonds
5,638,520
6,427,270
Environmental Protection Agency
260,414
281,248
5,898,934
6,708,518
$12,646,741
$14
General obligation school bonds:
1991 Refunding
S 4,090,000
$ -
1989 Refunding
8,105,000
8,735,000
1986A improvement
-
5,000,000
12,195,000
13,735,000
Environmental Protection Agency loan
260,414
281,248
Accrued annual leave
191,327
167,878
451,741
449,126
$12.646.741
$14 184 J 1.26
104
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.
105
EXHIBIT I -1
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30, 1992
Annual Principal and Interest Requirements
General Oblig ation School Refunding Bonds
Fiscal
Year
Principal
Interest
Total
1993
$ 1,725,000
$ 734,516
$ 2,459,516
1994
1,755,000
633,379
2,388,379
1995
1,795,000
527,247
2,322,247
1996
1,835,000
415,670
2,250,670
1997
890,000
320,937
1,210,937
1998
945,000
258,311
1,203,311
1999
1,015,000
190,928
1,205,928
2000
1,080,000
118,380
1,198,380
2001
1,155,000
40,425
1,195,425
S12,195,000
53,2�793
S15,434,793
106
i
C
i
KODIAK ISLAND BOROUGH EXHIBIT I-2
' KODIAK, ALASKA
GENERAL OBLIGATION SCHOOL IMPROVEMENT BONDS, 1991 SERIES A
' RETIREMENT SCHEDULE
' This issue, dated July 15, 1991, was issued as registered bonds under a book entry system registered in the name of Cede
& Company, as Nominee of The Depository Trust Company, New York, New York, the securities depository for the 1991 Bonds.
Bonds are retired serially in nimerical order over a period of five years. Retirement dates are semi - annually beginning
' on December 1, 1991 and semi - annually thereafter. These bonds are not subject to redemption prior to maturity.
This issue was marketed by John Nuveen & Co. Legal opinion was rendered by bond counsel, Wohlforth & Flint of Anchorage.
Bonds were issued to refund the 1986 A issue. Bonds are payable at Seattle First National Bank, Seattle, Washington.
107
Interest
Maturity
Rate*
Principal
Interest
Total
December 1,
1992
F,q,9 3
5.20%
S 795,000
$ 112,760
$ 907,760
June 1,
1993
F, '( 3
5.30
250,000
92,090
342,090
December 1,
1993
F-Vil
5.30
780,000
85,465
865,465
June 1,
1994
MAMA
5.60
250,000
64,795
314,795
December 1,
1994
5.60
765,000
57,795
822,795
June 1,
1995
5.60
250,000 ___
36,375
286,375
December 1,
1995
5.80
750,000
29,125
779,125
June 1,
1996
5.90
250,000
7,375
257,375
$4,090.000
S 485,780
54,575,780
107
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 379 have been retired. Bonds nunbered,2K through 2,000 bear interest at the rate indicated below.
380
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.
108
Bond
Principal
Interest
Interest
Fiscal
Year
Interest
Rate
Numbers
Inclusive
Due
August 1
Due
August 1
Due
February 1
Total
1993
6.60
380 -515
$ 680,000
S 276,053
$ 253,613
$ 1,209,666
1994
6.65
516 -660
725,000
253,612
229,506
1,208,119
1995
6.65
661 -816
780,000
229,507
203,571
1,213,077
1996
6.70
817 -983
835,000
203,571
175,599
1,214,170
1997
6.80
984 -1161
890,000
175,599
145,339
1,210,937
1998*
6.85
1162 -1350
945,000
145,338
112,972
1,203,311
1999
6.90
1351 -1553
1,015,000
112,973
77,955
1,205,928
2000
6.96
1554 -1769
1,080,000
77,955
40,425
1,198,380
2001
7.00
1770 -2000
1,155,000
40.425
-
1,195,425
$8,1�
$1,515,033
$1,238,980
$10,859,013
* Maturities on and after August 1, 1997 are callable at par on this and any interest date thereafter.
108
EXHIBIT I-4
KODIAK ISLAND BOROUGH
' KODIAK, ALASKA
ASBESTOS REMOVAL LOAN PAYABLE
' RETIREMENT SCHEDULE
i
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, vohlforth, Argetsinger, Johnson &
'
Brecht of Anchorage.
Principal
Principal
Fiscal
Interest
Due
Due Interest
' Year
Rate *
December 31
June 30
Due* Total
1993
7.00
S 10,416.67
S 10,416.67 S
$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
f '
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
10,416.67
- 20,833.34
2005
7.00
10.414.07
-
- 10.414.07
'
!135.414.11
$125.000.04 S
- $260
* 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.
WE
SECTION 3
STATISTICAL SECTION
II
STATISTICAL TABLES
' Statistical tables reflect social and economic data, financial trends and the
fiscal capacity of the governmental unit.
111
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.
Source: Borough general ledger
112
Local
Service
other
Fiscal
General
Roads and
Health and
Operating
Year
Government
Trails (c)
Sanitation (b)
Education (b)
Transfers
Total
1983
$1,857,316
$ 2,034
$ 446,001
$1,386,788
$4,742,292
S 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
1991
2,791,798
-
621,000
2,143,633
460,325
6,016,756
1992
2,739,848
-
706,251
3,027,510
500,000
6,973,603
(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.
Source: Borough general ledger
112
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
GENERAL REVENUES BY SOURCE (a)
LAST TEN FISCAL YEARS
TABLE 2
Total
$5,650,579
5,008,954
4,768,889
4,421,365
5,049,122
5,351,188
6,472,065
4,686,068
5,810,359
7,180,430
(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 5481,269 loss on investment relating to the Lion Capital Group.
Source: Borough general ledger
113
Operating
Licenses
Inter-
Charges
Fiscal
421,808
and
governmental
for
Year
Taxes
Permits
Revenue
Service
1983
$1,928,259
S 45,444
$3,086,448
$118,064
1984
1,844,572
34,779
2,542,441
44,194
1985
1,868,049
40,386
2,365,386
25,850
1986
2,065,440
53,786
2,277,655
83,849
1987
2,188,750
138,151
2,114,283
99,330
1988
2,491,065
97,959
2,291,627
100
1989
2,515,436
95,748
3,449,948
-
1990
2,640,044
120,145
1,316,238
-
1991
2,823,929
100,868
2,255,951
-
1992
4,067,934
212,936
2,450,339
-
TABLE 2
Total
$5,650,579
5,008,954
4,768,889
4,421,365
5,049,122
5,351,188
6,472,065
4,686,068
5,810,359
7,180,430
(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 5481,269 loss on investment relating to the Lion Capital Group.
Source: Borough general ledger
113
Operating
Miscellaneous
Transfers
S 472,281
$ 83
421,808
121,160
454,218
15,000
(113,025)(c)
53,660
451,518
57,090
355,802
114,635
354,523
56,410
540,851
68,790
456,381
173,230
367,551
81,670
TABLE 2
Total
$5,650,579
5,008,954
4,768,889
4,421,365
5,049,122
5,351,188
6,472,065
4,686,068
5,810,359
7,180,430
(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 5481,269 loss on investment relating to the Lion Capital Group.
Source: Borough general ledger
113
TABLE 3
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Source: Borough tax records
114
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
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
1991
2,237,629
2,189,270
97.8
17,254
2,206,524
98.6
59,745
2.7
1992
3,736,674
3,654,535
97.8
22,178
3,676,713
98.4
92,290
2.5
Source: Borough tax records
114
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
TABLE 4
R die
� of
L
(a) Reflects exemptions of boats and inventories.
(b) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
Source: Borough assessment and tax records
115
Ratio
of Total
Assessed
REAL PROPERTY
PERSONAL
PROPERTY
TOTAL
to Total
Estimated
Fiscal
Assessed
Estimated
Assessed
Estimated
Assessed
Estimated
Actual
Tear
Value
Actual Value
Value
Actual Value
Value
Actual Value
Value
1983
$307,400,381
$372,300,900
$72,919,918
$169,581,200
$380,320,299
$541,882,100
70.19%
1984
325,435,262
425,976,900
64,550,756 (a)
225,467,800
389,986,018
651,444,700
59.86
1985
353,643,800
385,884,500
50,369,200
186,486,200
404,013,000
572,370,700
70.59
1986
374,136,300
408,336,500
46,204,800 (b)
144,110,900
420,341,100
552,447,400
76.09
1987
369,860,196
398,049,400
39,003,109
199,309,200
408,863,305
597,358,600
68.45
1988
379,969,521
390,550,900
48,795,064
204,075,100
428,764,585
594,626,000
72.11
1989
378,072,396
415,666,660
58,727,868
229,477,103
436,800,264
645,143,763
67.71
1990
406,433,607
435,940,500
73,508,740
267,181,594
479,942,347
703,122,094
68.26
1991
439,710,369
457,383,400
76,594,500
280,085,100
516,304,869
737,468,500
70.01
1992
467,821,217
497,758,275
91,537,867
331,544,400
559,359,084
829,302,675
67.50
3
R die
� of
L
(a) Reflects exemptions of boats and inventories.
(b) Exempted $5 tax for small watercraft (boats and skiffs under five ton).
Source: Borough assessment and tax records
115
C
TABLE 5
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS
PER $100 OF ASSESSED VALUE
LAST TEN FISCAL YEARS
j Acros Road Service Districts
Monashka Service Bayview Women's
District Bay District 1 Road B_ y
9.00 - 1.50 0.00 0.00 0.50
5.00 - 2.00 0.00 0.00 0.50
5.75 - 2.00 0.00 0.00 0.50
5.75 - 2.00 0.25 0.00 0.10
6.51 - 2.00 0.25 1.00 0.50
6.51 - 2.00 0.25 1.00 0.50
6.50 - 2.00 0.25 1.50 1.50
6.50 - 1.25 0.70 1.00 1.50
6.50 .75 2.00 1.00 1.00 2.50
7.50 .75 2.00 1.75 1.00 2.50
Fire Districts
Service
KIB
City
Fiscal
General
of
Year
Fund
Kodiak
1983
7.00
2.00
1984
3.75
1.25
1985
3.75
2.00
1986
3.75
2.00
1987
4.51
2.00
1988
4.51
2.00
1989
4.50
2.00
1990
4.50
2.00
1991
4.50
2.00
1992
5.50
2.00
j Acros Road Service Districts
Monashka Service Bayview Women's
District Bay District 1 Road B_ y
9.00 - 1.50 0.00 0.00 0.50
5.00 - 2.00 0.00 0.00 0.50
5.75 - 2.00 0.00 0.00 0.50
5.75 - 2.00 0.25 0.00 0.10
6.51 - 2.00 0.25 1.00 0.50
6.51 - 2.00 0.25 1.00 0.50
6.50 - 2.00 0.25 1.50 1.50
6.50 - 1.25 0.70 1.00 1.50
6.50 .75 2.00 1.00 1.00 2.50
7.50 .75 2.00 1.75 1.00 2.50
Fire Districts
Service
Woman's
District 1
Bay
1.50
0.50
1.50
0.50
1.50
0.50
1.50
0.90
1.50
0.50
1.50
0.25
1.50
0.25
1.25
1.25
1.25
1.25
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
Mileage
Year
Value
Contribution
Equivalent
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
1991
516,304,869
2,484,606
4.81
1992
559,359,084
3,279,444
5.86
Source: Borough ordinance and assessment records
116
1
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
TEN LARGEST PROPERTY TAXPAYERS
YEAR ENDED JUNE 30, 1992
TABLE 6
* Taxes actually collected were less, in some cases, due to various laws such as personal property
within city limits being exempt.
Source: Borough tax records
117
Percentage
Percentage
of Total
1992
(Net)*
of Total
Assessed
Assessed
Taxes
Taxes
Valuation
Valuation
Levied
Levied
International Seafoods of Alaska
2.61%
$14,621,891
3 80,420
2.15%
All Alaskan Seafoods
1.85
10,337,610
56,857
1.52
Washington Fish and Oyster
1.69
9,448,021
51,964
1.39
Alaska Pacific Seafoods
1.66
9,302,672
51,165
1.37
Western Alaska Fisheries
1.57
8,807,773
48,443
1.30
PTI Communications
1.57
8,796,832
48,383
1.29
Sea-Land Services, Inc.
1.37
7,699,373
42,347
1.13
Waldos /0 & Son, Inc. (Retailers)
1.04
5,848,187
32,165
.86
Brechan Enterprises
.95
5,327,382
29,300
.78
Mill Bay Plaza Association
.76
4,265,700
23,461
.63
Totals
15.07%
$84,455,441
$464,505
12.42
* Taxes actually collected were less, in some cases, due to various laws such as personal property
within city limits being exempt.
Source: Borough tax records
117
TABLE 7
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
RATIO OF NET GENERAL BONDED DEBT Cc)
LAST TEN FISCAL YEARS
Sources -
(a) Information obtained from assessment records and Borough general ledger except as otherwise noted.
(b) 1990 population is per U.S. Bureau of Census (preliminary); others are estimates from the Borough Planning
Department based on the "Housing Unit Method."
118
Ratio
of Net
Net
Bonded
Bonded
Less Debt
Debt to
Debt
Fiscal
Assessed
Gross
Service
Net Bonded
Assessed
Per
Year
Population
Value
Bonded Debt
Fund
Debt
Value
Capita
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(a)
15,558(b)
452,016,912
15,310,000
6,683,745
8,826,255
1.9
567
1991
15,679
516,304,869
13,735,000
7,307,730
6,427,270
1.2
410
1992
15,679
559,359,084
12,195,000
5,638,520
6,268,520
1.0
360
Sources -
(a) Information obtained from assessment records and Borough general ledger except as otherwise noted.
(b) 1990 population is per U.S. Bureau of Census (preliminary); others are estimates from the Borough Planning
Department based on the "Housing Unit Method."
118
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
YEAR ENDED JUNE 30, 1992
(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.
119
TABLE 8
Percentage
Kodiak
Applicable
Island
Net Debt
to This
BoroughOs
Outstanding
Governmental
Share of
(a)
Unit (b)
Debt (c)
Kodiak Island Borough:
General obligation bonds
S 5,638,520
100%
S 5,638,520
City of Kodiak:
General obligation bonds
760,000
64
486,400
Revenue bonds
4.240.000
64
2.713.600
Total
$10,638.520
$ 8,838,520
(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.
119
TABLE 8
TABLE 9
Assessed value
Plus exempt property
Total
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
COMPUTATION OF LEGAL DEBT MARGIN
JUNE 30, 1992
S 559,359,084
2.027.200.278
$2.586,559,362
The State of Alaska does not mandate a debt limit to its municipalities and political subdivisions. Debt capacity is
ultimately determined by the marketplace.
Source: Borough assessment records
120
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES
FOR GENERAL BONDED DEBT TO TOTAL
GENERAL EXPENDITURES AND TRANSFERS
LAST TEN FISCAL YEARS
TABLE 10
n
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case
of term bonds.
Source: Borough general ledger and debt documents
121
Ratio of
Total
Debt Service
General
to General
Fiscal
Principal
Interest
Total Debt
Expenditures
Expenditures
Year
(a)
and fees
Service
and Transfers
(percent)
1983
S 515,000
$1,185,806
51,700,806
$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
1991
1,595,834
1,019,401
2,615,234
6,016,756
43.5
1992
1,685,833
1,008,918
2,694,751
6,973,603
38.6
n
(a) Serial maturities in the case of serial bonds; annual Debt Service Fund requirements in the case
of term bonds.
Source: Borough general ledger and debt documents
121
TABLE 11
KODIAK ISLAND BOROUGH
KODIAK. ALASKA
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
Fiscal
Year
Population (a)
School Enrollment (b)
Unemployment Rate (c)
1983
13,079
2,189
9.7%
1984
13,389
2,180
6.9
1985
13,748
2,295
9.6
1986
13,952
2,285
7.7
1987
14,127
2,329
7.4
1988
14,375
2,531
6.2
1989
15,575
2,304
3.2
1990
15,558
2,328
5.6
1991
15,679
2,398
8.2
1992
15,679 (d)
2,614
5.1
(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.
(d) Based upon 1991 census.
122
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS
YEAR ENDED JUNE 30, 1992
TABLE 12
Name of Official
Title
Annual Salary
Amount of
Surety Bond (1)
Jerome M. Selby
Mayor
$68,000
(2)
See page iv of intro-
ductory section
Assembly members
2,400
(2)
Contracted
Attorney
-
-
Karleton G. Short
Finance Director /Treasurer
61,526
51,000,000
Earl Smith
Fire Chief, Service Area One
64,646
-
Perry L. Page
Data Processing Manager
60,028
-
Donne Smith
Borough Clerk
49,275
-
Linda Freed
Director of Planning and
Community Development
73,174
-
Vivian Brumbaugh
Cashier
25,937
50,000
Patrick Carlson
Assessor /Appraiser
60,028
-
Pam Delys- Baglien
Director of Mental Health
86,985
-
Vacant
Facilities Coordinator
-
_
Cheryl Bolger
Accountant
45,760
-
(1) By ordinance in 1984 the Kodiak Island Borough Assembly elected to decrease the amount of bond payments and to
self - insure except for the treasurer and cashier. These positions are bonded at $1,000,000 and $50,000,
respectively.
(2) Also covered by elected officials' errors and omission policy of $1,000,000.
Source: Borough personnel records
123
TABLE 13
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST
TEN FISCAL YEARS
YEAR
ENDED JUNE 30,
CONSTRUCTION
PROPERTY VALUE
Commercial
Residential
Deposits in
Fiscal
No. of
No. of
Local
Year
Units
Value
Units
Value
Banks
Commercial
Residential
Nontaxable
1983
77
$7,708,474
136
$10,631,463
$ 54,032,065
8107,487,339
$199,913,042
E 245,623,546
1984
63
2,965,496
74
5,495,636
59,010,831
104,233,851
220,001,411
739,960,807
1985
62
10,316,833
99
7,928,241
61,598,752
116,411,447
236,302,401
1,053,965,717
1986
54
3,012,970
118
10,563,802
64,420,672
115,574,577
258,311,716
1,127,834,040
1987
35
4,256,169
134
5,313,110
70,402,810
114,409,875
252,950,321
1,134,524,305
1988
42
549,382
91
4,314,003
72,068,409
123,053,031
255,417,891
1,159,131,464
1989
22
1,174,346
131
6,421,773
93,830,000
128,202,254
266,409,021
1,177,364,559
1990
18
1,709,715
104
8,109,662
90,221,433
115,477,806
314,539,889
1,993,871,408
1991
69
3,692,371
152
5,706,524
90,392,243
130,469,150
323,060,260
2,002,661,025
1992
48
3,748,125
163
9,201,613
103,679,201
134,637,371
333,203,846
2,027,200,278
* Estimated actual value.
Source: Borough assessing records, City of Kodiak building department and local bankers
124
KODIAK ISLAND BOROUGH
KODIAK, ALASKA
MISCELLANEOUS STATISTICAL DATA
YEARS ENDED JUNE 30, 1983 THROUGH JUNE 30, 1992
Date of incorporation - September 30, 1963, Second Class Borough by Chapter 146 Sessions, Laws of Alaska 1961, as
amended, Form of Government - Mayor /Assembly.
Land Area - square miles
Miles of improved street
Mites 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:
City of Kodiak Elementary
City of Kodiak Junior High
City of Kodiak High School
Village Schools (c)
Number of support personnel (d)
Number of teachers
Number of students
Number of municipal employees
Elections:
Number of registered voters
Number voting in Last election
Percent of registered voters
1983
1984
1985
1986
4,900
4,900
4,900
4,900
16.48
16.48
17.29
19.53
-
3.7
4.2
9.63
309
309
309
410
170
170
170
327
213
137
161
172
$18,339.9
$8,416.1
$17,858.0
$12,196.8
-
2
2
2
-
1
1
1
3,277
4,099
3,414
220(a)
4
5
5
14
1
1
1
1
3
3
3
3
1
1
1
1
1
1
1
1
7
7
7
7
179
174
158
159
150
156
157
154
2,189
2,180
2,295
2,285
46
49
46
49
5,115
5,200
5,603
6,463
1,720
2,079
3,075
2,356
33.6%
44.0%
46.6 %
36.4%
(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) The majority of Village Schools are grades K -12.
(d) ALL non - teaching employees.
Source: Borough records
126
J
TABLE 14
1987
1988
1989
1990
1991
1992
4,900
4,900
7,130(b)
7,130
7,130
7,130
20.3
21.5
21.5
21.5
21.5
21.5
15.49
16
16
16
16
16
659
707
748
748
748
873
619
666
727
727
727
851
169
133
153
122
221
211
$9,570.0
$4,863.4
$7,596.1
$9,819.3
$9,398.9
$12,950.0
2
2
2
2
2
2
1
1
1
1
1
1
222
223
223
223
223
223
15
15
15
15
15
15
1
1
1
1
1
1
3
3
3
3
3
3
1
1
1
1
1
1
1
1
1
1
1
1
7
7
8
8
9
9
152
167
172
165
175
166
148
169
167
167
167
164
2,329
2,351
2,304
2,328
2,398
2,614
53
57
66
70
75
72
6,559
5,427
6,150
6,352
6,707
6,263
2,094
2,507
1,459
2,327
1,959
1,986
31.9%
46.2%
23.7%
37.0%
29.0%
31.8%
127