Financial Report Fiscal 2002CITY OF KALISPELL
ANNUAL FINANCIAL REPORT
TABLE OF CONTENTS
I. Letter of Transmittal................................................................................................................................................... 2-6
H. Elected Officials............................................................................................................................................................ 7
M. Financial Statements
A. Combined Statements - All fund types and Account groups......................................................................... 8
1. Combined Balance Sheet............................................................................................................................. 9-10
2. Combined Statement of Revenues, Expenditures and Changes in Fund Balance
AllGovernmental Funds.................................................................................................................... 11
3. Combined Statement of Revenues, Expenditures and changes in Fund Balance Budget to Actual
AllGovernmental Funds.................................................................................................................... 12-13
4. Combined Statement of Revenue, Expenses and Changes in Retained Earnings
AllProprietary Fund Types............................................................................................................. 14
5. Combined Statement of Cash Flows
AllProprietary Fund types................................................................................................................ 15
B. Notes to Financial Statements.............................................................................................................................. 16-50
C. Individual Statements by Fund type.................................................................................................................. 51
1. General Fund................................................................................................................................................
52-55
2. Special Revenue Funds................................................................................................................................
56-71
3. Debt Service Funds......................................................................................................................................
72-81
4. Capital Project Funds..................................................................................................................................
82-84
5. Enterprise Funds..........................................................................................................................................
85-90
6. Internal Service Funds................................................................................................................................
91-94
7. Agency Funds...............................................................................................................................................
95-96
8. Group Accounts............................................................................................................................................
97-99
IV. Supplemental schedules...............................................................................................................................................100
A. 10 year History of Taxable Valuation............................................................................................................ 101
B. General Statistical Information...................................................................................................................... 102
C. Tax Levy Requirements Schedule.................................................................................................................. 103
Incorporated 1892
Telephone (406) 758-7700
FAX (406) 758-7758
Post Office Box 1997
Kalispell, MT
Zip 59903-1997
December 12, 2002
Honorable Mayor and City Council
City of Kalispell
Kalispell, Mt. 59901
The Annual Financial Report for the City of Kalispell, Montana for the fiscal year ended June 30, 2002, is submitted for your review. The Finance Office prepared this
report. Responsibility for the accuracy and completeness of the presented data, including all disclosures, rests with the City. We believe the data, as presented, is accurate
in all material aspects; that it is -presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial
activity of its various funds; and that all disclosures necessary to enable the reader to gain an understanding of the City's financial affairs have been included.
Accounting System and Budgetary, Control
The City's accounting records for general governmental operations are maintained on a modified accrual basis. Under this method, revenues are recorded when
measurable and available; expenditures are recorded when services or goods are received and the liabilities are incurred. Accounting records for enterprise funds are
recorded on the accrual basis. Under this method, revenues are recorded when the services are performed; expenditures are recorded when the goods or services are
received and the liabilities are incurred.
In developing the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal controls are designed to provide reasonable
assurance regarding the safeguarding of assets and the accuracy and reliability of accounting data used for preparing financial data and maintaining accountability for
assets.
Budgetary control is maintained by an annual appropriation system. The Mayor and Council evaluate the budget proposals of the various City departments to determine
the operating level of the operating and public service programs. After giving due consideration to the input received from the citizens, the City Council adopts the
budget. The budget is appropriately controlled through an on line accounting system. The control is decentralized to the point that individual department heads are
responsible for expending within budgetary limits.
Reporting Entity and Services Provided
All significant operations of the City, as defined by the National Council of Governmental Accounting, Statement #3, have been included in the accompanying fmancial
statements. The City provides a full range of municipal services including police, fire, building safety, planning and zoning, city court, parks and recreation, streets,
community development and general administrative services. The City also operates as Enterprise funds: water, sewer, ambulance and solid waste.
In addition, the City presents financial data for two component units on the combined statements. The Kalispell Parking Commission is a discretely presented proprietary
type component unit. Tri City Planning is a discretely presented governmental type component unit.
General Government Functions
Revenues for general government functions totaled $11,868,408 in FY 2002 an increase of 8.51% from the 2001 fiscal year. This includes General, Special Revenue,
Debt Service and Capital Project Funds.
FY2002
Percent
increase or
Percent
Revenue
of FY2002
(decrease)
increase or decrease -
Taxes/Assessments
$ 4,920,674
41.46 %
$ 490,731
11.08 %
Licenses/Permits
340,099
2.87 %
(182,818)
-34.96 %
Intergovernmental
4,294,120
36.18 %
561,678
15.05 %
Charges for Services
1,106,812
9.32 %
116,961
11.82 %
Fines and Forfeitures
399,861
3.37 %
8,196
2.09 %
Investment Earnings
672,551
5.67 %
(40,806)
-5.72 %
Other Revenue
134,291
1.13 %
(23,260)
-14.76 %
Total
$ 11,868,408
100.00 %
$ 930,682
8.51 %
Taxable valuation of $21,351,734 represents an increase from the prior year valuation, which was $21,153,794. The mills levied for FY2002 were 129.42 which will
generate the same revenue as the prior year levy exclusive of new construction. The total 8.51% increase in revenues is due to a nearly $600,000 increase instate shared
revenues, and.continued growth of the City's tax base. Licenses/Permits revenue decreased a substantial amount due to many of the revenues recorded here in prior years
are now part of state shared revenues through the HB124 entitlement.
Allocations of property tax levy by purpose for FY2002 and the proceeding five fiscal years are as follows - stated in mills
Purpose
FY02
FY01
FY00
FY99
FY98
FY97
General Fund
91.78
76.25
69.54
67.66
74.66
65.94
Comp. Insurance
8.04
12.86
10.28
9.00
10.00
13.22
Retirement
14.21
14.39
14.39
14.00
13.00
15.00
Health
15.39
18.50
18.50
18.00
16.00
19.50
G. O. Bond
1.54
2.50
2.50
2.50
Total
129.42
122
114.25
111.16
116.16
116.16
Expenditures for general governmental purposes totaled $12,640,241, an increase of 22.55% or $2,325,872 from 2001. General Fund expenditures increased by $685,999
while there was a $370,343 increase in Special Revenue funds. Expenditures increased by $163,231in the Debt service funds. Capital Project Funds increased by
$1,106,299 due to the reconstruction of Sunnyview Drive. General Government expense increase of $224,491 related to, in the general fund, a 29% increase in personnel
cost of the City Attorney's office, the cost associated with converting the city payroll from monthly to biweekly (employee loans),and the general funds share of data
processing expense, which in prior years was handled differently. Public Safety Expenditures increased by $316,382, mostly due to the increased cost of personnel in the
police department. Public Works expenditures increased by $940,698. Most of this increase can be attributed to the reconstruction of Sunnyview Lane. Parks and
Recreation expenditures increased by 24.39% from FY01. This increase is attributable to the new aquatic center project. The cost of insurance for the City increased
about 18%. Expenditures include the General Fund, Special Revenue, Debt Service and Capital Project Funds.
Percent
FY2002 amt. % FY02 Total Increase (decrease) Increase(decrease)
General Government $ 1,235,181 9.77 % $ 224,491 22.21 %
Public Safety 3,739,192 29.58 % 316,382 9.24 %
Public Works 2,639,936 20.89 % 940,698 55.36 %
Parks & Recreation 1,073,442 8.49 % 210,489 24.39 %
Community Development 1,539,580 12.18 % (43,843) -2.77 %
Misc.(Insurance) 286,276 2.26 % 43,615 17.97 %
Capital Outlay 1,195,946 9.46 % 422,313 54.59 %
Debt Service 930,689 7.36 % 211,727 29.45 %
Total $ 12.640,242 100.00 % $ 2.325.872 22.55 %
Debt Administration
G.O. Bonds payable in the amount of $3,675,000 were issued in FY02 for the construction of a new aquatic facility and skateboard park. $1,667,590 of Special
Assessment Bonds are outstanding. The City's debt related to the purchase of a portion of Gateway West Mall is $2,114,293. Governmental funds also are responsible for
$218,249 in Montana Board of Investment Intercap loans for equipment, no new equipment was purchased in FY02.
Cash Management
The City's demand deposits are interest bearing money market accounts. Interest income recorded by all governmental funds totaled $672,551; interest earned by
Proprietary funds (Enterprise & Internal Service funds) operating funds was $224,111. The City utilizes the Statewide Investment Pool, S.T.I.P.
Capital Project Funds
Capital project funds are used annually for the construction of sidewalk & curbs financed by special improvement district bonds or warrants. $1,209 in Sidewald & Curb
warrants were issued this year. There were no new SID's this fiscal year.
General Fixed Assets
The general fixed assets of the City are those assets used in the performance of general governmental functions and do not include fixed assets of the Enterprise funds. As
of June 30, 2002, the general fixed assets of the City amounted to $20,348,346. This amount represents the original cost of the assets and is considerably less than their
estimated fair market value. Depreciation of general fixed assets is not reflected in the City's accounting records.
Enterprise Funds
The Water fund was established to account for the operation of the municipal water utility. The City has a spring at Lawrence Park, a well at Depot Park, the Armory well,
the Buffalo Hill well and standpipe and the new well at Grandview Avenue. There are two covered reservoirs at Buffalo Hill. The City maintains 54 miles of water lines.
Customers are billed for water used. In FY2002, the water system assets were increased by $941,773. Most of the new assets were new transmission and distribution lines
donated to the City by developers. Special Improvement District 343, the reconstruction of Sunnyview Drive, accounted for $129,547 of new transmission and distribution
assets.
The Sewer fund was established to account for the operation of the wastewater treatment plant, the sanitary sewer operation and the storm sewer system. Storm sewer
maintenance is financed by a citywide assessment. The sewer charge is based on water usage. The City Wastewater Treatment plant also treats the sewage of the
Evergreen Sewer District. In FY02 sewer system assets increased by $784,303. The majority of the new assets were transmission and distribution lines donated by
developers. Special Improvement District 343 accounted for $163,986 of new transmission and distribution assets.
The Ambulance fund was established to account for the operation of the City's ambulance service. The fire department personnel operate this service.
The Solid Waste fund was established to account for the operation of the City's garbage pickup. It is financed by an annual assessment of $80 per residence, and an
established rate schedule for non residential customers.
Insurance
The City joined other Montana cities and towns to form a self-insurance pool offering worker's compensation and liability coverage. In March 1993, the Montana
Municipal Insurance Authority issued tax exempt refunding bonds for $4,410,000 to fund the liability program reserves. Debt service on the bonds is expected to be paid
through interest earnings on bond proceeds and other funds of the authority. Refunding Bonds for worker's compensation were sold in February 1994 bringing the total debt
for the MMIA Worker's Compensation pool to $6,614,753.
Prospects for the Future
Since November 1986 and the passage of Initiative 105 (to limit certain property taxes to the 1986 levels) to the recent passage of SB184, the ability of the City to raise
revenue for basic services is increasingly difficult. The legislature, with S13184, has lowered tax rates forcing the City to increase mill levies to maintain the same level of
revenue.
The City's financial position has improved considerably over the last several years. The additional revenue from increased taxable valuation and other sources, such as
gambling, has brought our milled funds out of a deficit position allowing us to build cash reserves. The City's cash reserves vary between 10% and 20% of appropriations.
State law allows for reserves of 50%. Reserves provide for cash flow between tax revenue receipts to keep the City from having to borrow funds for operations. Additional
revenues generated by increased taxable valuation come with the additional costs of an increased service area. The City of Kalispell's Police and Fire Departments, Courts
system, Building Department, Public Works and Parks have felt the increased pressure from the influx of people to Flathead County. These pressures impact the budgets of
all departments. The outlook for the City of Kalispell is to provide basic services and look for additional ways to fund these costs.
Acknowledgments
In conclusion, I am able to report that the City of Kalispell is in sound financial conditions and should continue to enjoy good financial health. I wish to express my thanks
to Amy Robertson and Carol Kostman of the Finance office as well as the administrative staff of the various departments. Without your help and input this report would not
be possible.
In accordance with Section 7-6-4111, MCA I hereby transmit the City of Kalispell Annual Financial Report as of June 30, 2002 for the fiscal year then ended.
Date
Res lly submitted,
T
City Accountant
N
:W7VVA�i.� M
s 1C W ' ' 1
JUNE 30, 2002
Manager/Council form of Government
Mayor Pamela B. Kennedy 1/1/2006
Council members:
Donald Counsell Ward I
1/1/2004
Jim Atkinson
Ward III
1/1/2006
Robert Hafferman Ward I
1/1/2006
Randy Kenyon
Ward III
1/1/2004
Fred-L-eisfik-o Ward -II
1/- 4_
-M.-.,Duane Larson
Ward IV
1/1/2004
Hank Olsen Ward H
1/1/2006
Jason Peters
Ward IV
1/1/2006
Other City Officials:
City Manager Chris Kukulski
Attorney
Charles Harball
Police Chief
Frank Garner
Fire Chief
Randy Brodehl
Finance Director
Amy Robertson
City Judge
Heidi Ulbricht
Public Works Director
James Hansz
Parks Director
Michael Baker
Community Development Director
Susan Moyer
City Accountant
Rick Wills
7
III. Financial Statements
A. Combined Statements - all fund types and account groups
1. Balance Sheet
2. Revenues, Expenditures and Changes in Fund Balance
-Governmental Fund Types
3. Revenues, Expenditures and Changes in Fund Balance -Budget v. Actual
-General, Special Revenue, Debt Service and
Capital Project Funds
4. Revenues, Expenses and Changes in Retained Earnings
-Proprietary Fund types
5. Statement of Cash Flows
-Proprietary Fund types
CITY OF KALISPELL
Combined Balance Sheet - All Fund Types and Account Groups
June 30,2002
Governmental
Fund Types
Proprietary
Funds
Fiduciary
Account Groups
TOTALS
COMPONENT
TOTALS
(Memorandum
UNITS
(Memorandum
General General
only)
Governmental Proprietary
only)
General
Special
Debt Capital
Enterprise
internal
Trust and
Fixed Long-term
Primary
Funci Type Fund Type
Reporting
Fund
Revenue
Service Projects
Funds
Service
Agency
Assets Debt
Government
Tri-City Parking
Entity
ASSETS AND OTHER llEBl'i'S
Assets:
Cash/Investments S
1,108,554 S
6,6U7,833
S 304,730 S 3,647,453
S 8,789,5U9
S 142,476
S 231,852
S 2U,832,407
$ 26,848 S 23,166
S 20,882,421
Receivables:
Taxes
231,4168
195,028
25,383
451,479
451,479
Special Assessments
16U
51,053
1,590,U83
61,573
1,702,869
1,702,869
Payment in Lieu
0
0
Accounts
46,681
482,710
27,315
556,706
17,816
574,522
Due from other governments 236,612
346,252 135,186 99,473
Due from other funds 83,077
15,731
Advance to other funds
84,900
Inventories
85,765
Loans receivable
2,514,268
Accrued Interest Rec.
Prepaid expenses 1,151
42,894
Fixed assets (net of accumulated
depreciation, where applicable)
26,865,215
Other debits:
Amount Available in Debt funds
Amount to be provided for retirement
of general long-term debt
0
817,523
817,523
98,808
98,808
84,900
84,900
85,765
85,765
2,514,268
2,514,268
U
U
44,045
44,045
0
81,341 S 20,348,855 47,295,411
14,138 47,309,549
U
0
247,151 247,151
247,151
U
8,420,972 8,420,972
8,420,972
Total Assets and other debits $ 1,707,303 $ 9,842,228 $ 2,0712113 $ 3,647,453 $ 36,384,245 $ 251,132 $ 231,852 $ 20,348,855 $ 8,668,123 $ 83,152,304 $ 26,848 $ 55,120 $ 8323972
See accompanying Notes to Financial Statements
CITY OF KALISPELL
Combined Balance Sheet - All Fund Types and Account Groups
June 30, 2002
Governmental Fund Types Proprietary Funds Fiduciary Account Groups
TOTALS
COMPONENT
TOTALS
(Memorandum
UNITS
(Memorandum
General General
only)
Governmental Proprietary
only)
General Special Debt Capital Enterprise Internal Trust and Fixed Long-term
Primary
Fund Type Fund Type
Reporting
Fund Revenue Service Projects Funds Service Agency Assets Debt
Government
Tri-City Parking
Entity
LIABILITIES, EQUITY &
OTHER CREDITS
Liabilities:
Accounts payable $
98,613
$ 157,223 $
5,053 $ 99,257 $
7,232 $ 231,852
$
599,230 $
4,093 $
1,160 $
604,483
Payroll payable
102,567
12,605
28,094
143,266
4,787
2,848
150,901
Purchase contract
-
-
Retainage payable
14,458
9,977
24,435
24,435
Due to other funds/governments
15,731
55,000
6,557
77,288
40,000
117,288
Advance from other funds
84,900
84,900
84,900
Est. liability for claims
40,688
40,688
40,688
Deferred revenue
277,908
2,760,348 1,615,466
4,653,722
4,653,722
Liabilities payable from
-
Restricted assets:
Special assessment debt with
-
..;4evernment commitment
1,667,590
1,667,590
1,667,590
Genrrall0bligation bonds payable
3,675,000
3,675,000
3,675,000
Revenue bonds payable
Ay�
V loan
3,882,721
2,425,000
2,114,293
5,997,014
5,997,014
payable
2,425,000
2,425,000
tt ptial leases/loans payable
77,115
459,519
536,634
536,634
Deferred compensation payable
192,265
751,721
943,986
6,426
950,412
Total Liabilities $
479,088
$ 3,029,534 $ 1,631,197 $
15,030 $ 6,759,452 $
54,477 $ 231,852 $
0 $ 8,668,123 $
20 868,753 $
48,880 $
10,434 $
20,928,067
Equity and other credits:
Investment in general fixed assets
20,348,855
20,348,855
20,348,855
Contributed capital
13,586,818
13,586,818
13,586,818
Retained earnings:
0
Designated for replacement
49,591
49,591
49,591
Reserved
8,756,393
8,756,393
8,756,393
Unreserved
7,281,582
147,064
7,428,646
44,686 7,473,332
Fund Balances:
0
Reserved
334,263 439,916
774,179
774,179
Unreserved
1,228,215 6,478,431
3,632,423
11,339,069
(22,032) 11,317,037
Total Equity and other credits $
1,228,215 $ 6,812,694 $ 439,916 $
3,632,423 $ 29,624,793 $
196,655 $ 0 $ 20,348 855 $ 0 $
62,283,551
(22,032) $ 44,686 $ 62,306,205
Total Liabilites and Fund Equit $
1,707,303 $ 9,842,228 $ 2,071,113 $
3,647,453 $ 36,384,245 $
251,132 $ 231,852 $ 20,348 855 $ 8,668,123 $
83,152,304 $
26,848 $ 55120 $ 83,234 272
10
CITY OF KALISPELL
ALL GOVERNMENTAL FUNDS
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
June 30, 2002
GOVERNMENTAL FUND TYPES
Special
Debt
Capital TOTALS
Component Unit
TOTALS
Account
Description
General
Revenue
Service
Projects (Memorandum Only)
Tri-City
(Memorandum On1j,
Primary Government
Reporting Entity
Revenues:
310000
Taxes/assessments
$ 1,968,979 $
2,461,865 $
489,830
$ 4,920,674
$ 4,920,65
320000
Licenses and permits
84,118
255,981
$ 340,099
72,606
$ 412,7(
330000
Intergovernmental
1,907,895
2,219,857
166,368
$ 4,294,120
180,730
$ 4,474,86u
340000
Charges for services
902,045
153,632
43,182
7,953 $ 1,106,812
$ 1,106,812
350000
Fines and forfeitures
399,861
$ 399,861
$ 399,8E---,
360000
Miscellaneous revenue
69,770
64,521
$ 134,291
$ 134,2!
370000
Investment earnings
121,540
472,793
60,158
18,060 $ 672,551
$ 672,5.'
Total Revenue
5,454,208
5,628,649
759,538
26,013 11,868,408
253,336
12,121,744
Expenditures:
- -
410000 General government
1,123,124
112,057
1,235,181
275,368 1,510,S
420000 Public safety
2,721,230
1,017,962
3,739,192
3,739,1
430000 Public works
574,687
1,088,715
976,534
2,639,936
2,639,936
460000 Culture and recreation
673,512
224,363
175,567
1,073,442
1,073,442
470000 Housing/community development
1,539,580
1,539,580
1,539,5---
510000 Miscellaneous
2,254
284,022
286,276
286,2
900obj Capital outlay
248,005
947,941
1,195,946
1,195,9
490000 Debt service
36,855
327,062
566,772
930,689
930,689
Total Expenditures
5,379,667
5,541,702
566,772 1,152,101
12,640,242
275,368 12,915,610
Excess Revenues over(under)expenditures
74,541
86,947
192,766 (1,126,088)
(771,834)
(22,032) (793,8
Other Financing Sources (Uses):
380000 Sale of assets/land
1,048,708
1,048,708
1,048,708„
381000 Inception of Lease/proceeds
3,676,209
3,676,209
3,676,2
383000 Transfer in
159,213
37,000
196,213
196,2
521000 Transfers (out)
(78,332)
(78,332)
(78,3,4)
0
Excess revenues and other sources over
0
(under) expenditures and other uses
(3,791)
1,294,868
192,766 2,587,121
4,070,964
(22,032) 4,048,5
Fund Balance July 1, 2001
1,230,681
5,524,654
247,150 1,338,835
8,341,320
0 8,341,32v
Prior Period Adj
1,325
(6,828)
(5,503)
(5,503)
Residual equity transfer in (out)
_ _
(293,533)
(293,533)
- 293,5^?)
Fund Balance June 30, 2002 $ 1,228,215 $ 6,812,694 $ 439,916 $ 3,632,423 $ 12,118,751 $ (22,032) $ 12,096„
See accompanying Notes to Financial Statements
11
CITY OF KALISPELL
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE AND CAPITAL PROJECTS FUND TYPES
JUNE 30, 2002 GENERAL FUND SPECIAL REVENUE FUNDS
Account Description
Revenues:
310000 Taxes/assessments
320000 Licenses and permits
330000 Intergovernmental
340000 Charges for services
350000 Fines and forfeitures
360000 Miscellaneous revenue
370000 Investment earnings
Total Revenue
Expenditures:
--- --
Current:
410000
General Government
420000
Public Safety
430000
Public Works -
460000
Culture and Recreation
470000
Housing/Comm. Development
510000
Miscellaneous
900obj
Capital outlay
490000
Debt Service
Total Expenditures
Excess Revenues over
(under) expenditures
Other Financing Sources (Uses):
381000
Sale of assets/land
381000
Inception oflease/Loan proceeds
383000
Transfer in
521000
Transfers out
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Prior Period Adj.
Residual equity transfers in (out)
Fund Balance June 30, 2002
See accompanving Notes to Financial Statements
Budget After BudgetAfter
transfers Actual Variance transfers Actual Valiance
$ 1,941,119 $
1,968,979 $
27,860
58,165
84,118
25,953
1,835,045
1,907,895
72,850
934,481
902,045
(32,436)
390,000
399,861
9,861
83,056
69,770
(13,286)
141,719
121,540
(20,179)
5,383,585
5,454,208
70,623
1,181,827
1,123,124
58,703
2,714,522
2,721,230
(6,708)
616,557
574,687
41,870
681,049
673,512
7,537
0
2,799
2,254
545
256,600
248,005
8,595
36,855
36,855
0
5,490,209
5,379,667
110,542
(106,624) 74,541 181,165
0
0
0
(73,914) (78,332) (4,418)
$ 2,302,494 $
2,461,865 $
159,371
170,000
255,981
85,981
3,460,289
2,219,857
(1,240,432)
177,325
153,632
(23,693)
0
61,669
64,521
2,852
449,813
472,793
22,980
6,621,590
5,628,649
(992,941)
112,227
112,057
170
1,100,107
1,017,962
82,145
1,902,520
1,088,715
813,805
269,478
224,363
45,115
2,826,082
1,539,580
1,286,502
311,030
284,022
27,008
3,767,555
947,941
2,819,614
338,271
327,062
11,209
10,627,270
5,5419702
5,085,568
(4,005,680) 86,947 4,092,627
1,048,708 1,048,708
0
76,979 159,213 82,234
0
(180,538) (3,791) 176,747 (3,928,701) 1,294,868 5.223,569
1,230,681
1,325
$ 1,228,215
12
5,524,654
(6,828)
$ 6,812,694
CITY OF KALISPELL
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE - BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE, DEBT SERVICE AND CAPITAL PROJECTS FUND TYPES
June 30, 2002
Account Description
Revenues:
310000 Taxes/assessments
320000 Licenses and permits
330000 Intergovernmental
340000 Charges for services
350000 Fines and forfeitures
360000 Miscellaneous revenue
370000 Investment earnings
Total Revenue
Expenditures:
Current:
410000
General Government
420000
Public Safety
430000
Public Works
460000
Culture and Recreation
470000
Housing/Comm. Development
510000
Miscellaneous
9000bj
Capital outlay
490000
Debt Service
Total Expenditures
Excess Revenues over
(under) expenditures
Other Financing Sources (Uses):
381050 Sale of assets/land
380000 Proceeds of bonds/loans
383000 Transfer in
521000 Transfers out
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Residual equity transfers in (out)
Fund Balance June 30, 2002
See accompanying Notes to Financial Statements
DEBT SERVICE FUNDS CAPITAL PROJECT FUNDS
Budget After Budget After
transfers Actual Variance transfers Actual Variance
$ 297,157 $ 489,830 $ 192,673
166,368 166,368 -
43,182 $ 0 $ 7,953 $ 7,953
72,851 60,158 (12,693) $ $ 18,060 $ 18,060
536,376 759,538 179,980 $ 0 26,013 $ 26,013
1,453,571 976,534 477,037
3,675,000 175,567 3,499,433
573,762 566,772 6,990
573,762 566,772 6, 990 5,128,571 1,152,101 3,976,470
(37,386) 192,766 1869970 (5,128,571) (1,126,088) 4,002,483
3,760,471 3,676,209
$ 0 - 37,000
$ 0
(37,386) 192,766 186,970 (1,368,100) 2,587,121 4,002,483
247,150
$ 439,916
13
1,338,835
(293,533)
$ 3,632,423
CITY OF KALISPELL
COMBINING STATEMENT OF REVENUE, EXPENSES, AND CHANGES
IN RETAINED EARNINGS - ALL PROPRIETARY FUNDS
June 30, 2002
PROPRIETARY FUND TYPES
TOTALS
COMPONENT
TOTALS
(Memorandum Only)
UNIT
(Memorandum Only)
ENTERPRISE
INTERNAL
Primary
Proprietary
Reporting
FUNDS
SERVICE
Government
fund Parking
Entity
OPERATING REVENUES
340000
Charge for services
$
4,966,655
$ 4,966,655
$ 67,890
$ 5,034,545
360000
Miscellaneous
18,772
245
19,017
19,017
363000
Special assessments
272,701
272,701
272,701
351000
Fines & forfeitures
0
34,919
34,919
383000
Internal services
1,003,943
1,003,943
1,003,943
TOTAL OPERATING REVENUES
$
5,258,128
$ 1,004,188
$ 6,262,316
$ 102,809
$ 6,365,125
OPERATING EXPENSES
100
Personal services
$
1,894,375
$ 1,894,375
$ 78,191
$ 1,972,566
200
Supplies
110,747
11,107
121,854
9,208
131,062
300
Purchased services
986,466
1,311,896
2,298,362
23,777
2,322,139
400
Building materials
71,838
71,838
71,838
500
Fixed chgs./Admin transfers
439,417
25,337
464,754
7,006
471,760
810
Loss/bad debt
277,186
277,186
277,186
830
Depreciation
1,623,551
46,137
1,669,688
10,162
1,679,850
TOTAL OPERATING EXPENSES
$
5,403,580
$ 1,394,477
$ 6,798,057
$ 128,345
$ 6,926,402
Operating Income (loss)
(145,452)
(390,289)
(535,741)
(25,536)
(561,277)
NON-OPERATINIG REVENUE(EXPENSE)
343000
Hookups
$
491,457
$ 491,457
$ 491,457
371010
Interest revenue
211,481
12,630
224,111
667
224,778
490000
Debt service interest
(406,793)
Total Non -Operating Revenues (Expenses)
$
296,145
$ 12,630
$ 715,568
$ 667
$ 716,235
NET INCOME
$
150,693
(377,659)
(24,869)
Add depreciation on assets acquired by contribution
669,219
669,219
0
669,219
Increase in Retained Earnings
$
819,912
(377,659) $
442,253
(24,869) $
417,384
Retained earnings - 7/l/01-as previously reported
15,263,447
574,314
15,837,761
69,555
15,907,316
Restatements/prior period adjustments
(45,384)
(45,384)
(45,384)
Retained Earnings-7/l/01 - restated
15,218,063
574,314
15,792,377
69,555
15,861,932
Retained earnings- 6/30/02
$
16,037,975
$ 196,655
$ 16,234,630
$ 44,686
$ 16,279,316
14
CITY OF KALISPELL
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
Cash flows from Operating Acitivies:
Cash Received From Customers
Cash Received From Assessments
Cash Payments to Suppliers for goods & services
Cash Payments to Employees for Services
Cash received from Internal Services
Cash From Other Operating Revenues
Net Cash Provided by Operating Activities
Cash Flows From Capital and Related Financing Activities:
Inception of Lease
Acquisition and Construction of Capital Assets
Board of Investment Loans
Principal Paid on Revenue Bonds, Contracts & leases
Interest Paid on Revenue Bonds, Contracts & leases
Due to General Fund
Cash received from hookups
Net Cash Used for Capital and Related Financing Activities
Cash Flows From Investing Activities:
Interest on Investments
Advance to other fund net of repayment
Purchase of long term investments
Redemption of long term investments
Net Cash Used in Investing Activities
Net Increase in Cash and Cash Equivalents
Cash and Cash Equivalents at July 1, 2001
Cash and Cash Equivalents at June 30, 2002
Reconciliation of Operating Income to Net Cash provided by operations:
Operating Income
Adjustments to Reconcile Income to net cash provided by operations:
Depreciation
Bad Debt Expense
Change in Assets and Liabilities:
Decrease (Increase) in Accounts Receivable
Decrease (Increase) in Assessmnts Receivable
Decrease (Increase) in Inventory
Increase (Decrease) in Accounts Payable
Decrease (Increase) in Prepaid Maintenance
Decrease (Increase) in Estimated Liabilities
Increase (Decrease) in Compensated Absences
Net Cash Provided by Operating Activities
June 30, 2002 TOTALS COMPONENT TOTALS
(Memorandum Only) UNIT (Memorandum Only)
ENTERPRISE INTERNAL Primary Proprietary Reporting
FUNDS SERVICE Government Fund - Parking Entity
4,112,153
4,112,153
83,568
4,195,721
760,831
760,831
760,831
(1,652,492) (1,426,412)
(3,078,904)
(40,734)
(3,119,638)
(1,859,844)
(1,859,844)
(73,510)
(1,933,354)
1,004,188
1,004,188
1,004,188
100,319
100,319
100,319
1,460,967 (422,224)
1,038,743
(30,676)
1,008,067
(861,776) (30,348)
(892,124) 5,213
(886,911)
2,562,221
2,562,221
2,562,221
(2,917,317)
(2,917,317)
(2,917,317)
(416,718)
(416,718)
(416,718)
55,000 6,557
493,733
493,733
493,733
(1,084,857) (23,791)
(1,170,205) 5,213
(1,164,992)
211,481 12,630 224,111 667 224,778
(1,208) (1,208) (1,208)
10,394 10,394 10,394
220,667 12,630 233,297 667 233,964
596,777 (433,385) 163,392 (24,796) 138,596
8,170,143 603,176 8,773,319 47,962 8,821,281
8,766,920 169,791 8,936,711 23,166 8,959,877
(145,452) (390,289)
(535,741)
(25,536)
(561,277)
1,623,551 46,137
1,669,688
10,162
1,679,850
275,625
275,625
275,625
(269,874)
(269,874)
(19,241)
(289,115)
(14,951)
(14,951)
(14,951)
10,602
10,602
10,602
(53,065) 5,459
(47,606)
2,106
(45,500)
(83,531) (83,531) (83,531)
34,531 34,531 1,833 36,364
1,460,967 (422,224) 1,038,743 (30,676) 1,008,067
Disclosure of Accounting Policy: For the purposes of the Statement of Cash Flows, the Proprietary Funds consider all highly liquid investments
(including restricted assets) with a maturity of three months or less when purchased to be cash equivalents. is
III. Financial Statements - con't.
B. Notes to the Financial Statements
L
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
1. Summary of Significant Accounting Policies
The following is a summary of the City of Kalispell's significant accounting policies:
Reporting Entity
The City is governed by an elected Mayor and City Council. The City is considered a primary government because it is a general purpose local government. Further,
it meets the following criteria: (a) It has a separately elected governing body (b) It is legally separate and (c) It is fiscally independent from the State and other local
governments.
The accompanying general-purpose financial statements include all funds, account groups, agencies, boards, commissions and authorities which meet the criteria for
inclusion in the City's financial report. These criteria include financial accountability, appointment of a majority of the secondary government and the financial benefit
or burden derived by the primary government from a secondary government.
As required by generally accepted accounting principles, these financial statements present the City of Kalispell and its component units. The component units are
included in the city's reporting entity because- of the significance of their operational or financial relationship with. the City, as described above. The discretely
presented component units, the Kalispell Parking Commission and Tri City Planning are legally separate organizations of the City, but the City is financially
accountable. The component units are reported in a separate column to emphasize that they are legally separate from the City. See note 25 for detailed information on
the component units.
Measurement Focus, Basis of Accounting
Fund Accounting
The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund
are accounted for within a separate set of self -balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as
appropriate. The following types of funds and account groups are maintained by the City.
GOVERNMENTAL FUNDS are used to account for the City's general government activities. Governmental fund types use the flow of current financial resources
measurement focus and the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to
accrual. (i.e., when they are "measurable and available") "Measurable" means the amount of the transaction can be determined and "available" means collectible
within the current period or soon enough thereafter to pay liabilities of the current period. The City considers all revenues available if they are collected within 60 days
after year-end. Expenditures are recorded when the related fund liability is incurred, except for unmatured interest on general long-term debt which is recognized
when due, and certain compensated absences and claims and judgements which are recognized when the obligations are expected to be liquidated with expendable
available financial resources.
17
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
1. Summary of Significant Accounting Policies-con't.
Real and personal property taxes (excluding motor vehicle taxes), special assessments, charges for current services, and interest earnings are susceptible to accrual.
Other receipts and taxes become measurable and available when cash is received by the City and are recognized as revenue at that time. The City recorded real and
personal property taxes and assessments levied for the current year as revenue. Taxes and assessments receivable remaining unpaid at year-end and not expected to be
collected soon enough thereafter to be available to pay obligations of the current year were recorded as deferred revenue, with a corresponding reduction in revenues,
as required by generally accepted accounting principles. In addition, prior period delinquent taxes and assessments collected in the current period were recorded as
revenue in the current period as required by generally accepted accounting principles. Entitlements and shared revenues are recorded at the time of receipt or earlier if
the susceptible to accrual criteria are met. Expenditure driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other
grant requirements have been met.
General Fund: the City's primary operating fund. It accounts for all financial resources except those required to be accounted for in other funds
Special Revenue Funds: used to account for the revenue sources that are legally restricted to expenditures for specific purposes.
Capital Proiect Funds: used to account for financial resources for the acquisition or construction of capital facilities (other than those financed by proprietary funds)
Debt Service Funds: used to account for the accumulation of resources for, and payment of general long term debt principal, interest and related costs.
PROPRIETARY FUNDS are accounted for on the flow of economic resources measurement focus and use the accrual basis of accounting. Under this method;
revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The City has elected not to apply FASB pronouncements issued after
November 30, 1989.
Enterprise Funds: 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 costs 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.
Internal Service Funds: account for the financing of goods or services provided by one department to other City departments on a cost reimbursement basis.
18
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
1. Summary of Significant Accounting Policies - con't.
FIDUCIARY FUNDS account for assets held by the government as an agent on behalf of others.
Trust and Agency Funds: used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governments
and/or other funds. These may include (a) expendable trust funds, (b) non expendable trust funds, (c) pension trust funds and (d) agency funds.
FIXED ASSETS AND LONG-TERM LIABILITIES
General Fixed Assets Account Group: used to account for the fixed assets of the City which are not accounted for in proprietary funds or in trust funds
General Long -Term Debt Account Group: used to account for all long term debt of the City except that accounted for in the proprietary or trust funds
Budgets and Budgetary Accounting
An operating budget is adopted each fiscal year for the General Fund, Special Revenue Funds, Debt Service Funds and Capital Projects Funds on the modified accrual
basis. A non -binding management budget is adopted for the Enterprise and Internal Service Funds.
The final budget is legally enacted by the City Council, on the second Monday in August after holding public hearings as required by State statutes. Budget
appropriation transfers may be made between general classifications of salaries and wages, maintenance and operation and capital outlay. Reported budget amounts
represent the originally adopted budget as amended by resolution of the City Council. It is management's responsibility to see that the budget is followed to the
budgetary line item.
The City Council may amend a final budget when shortfalls in budgeted revenues require reductions in approved appropriations to avert deficit spending; when
savings result from unanticipated adjustments in projected expenditures; when unanticipated state or federal monies are received; or when a public emergency occurs
which could not have been foreseen at the time of adoption. The procedure to amend the budget in total can be made only after the City prepares a resolution, notice is
published of a public hearing, and a public hearing is held in accordance with state law.
Encumbrances
All appropriations lapse at the end of fiscal year. The City has chosen not to use encumbrance accounting.
19
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
I. Summary of Significant Accounting Policies - con't.
Receivables and Payables
Advances between funds are offset by a fund balance reserve account in applicable governmental funds to indicate they are not available for appropriation and are not
expendable available financial resources.
Fixed Assets
All purchased fixed assets are valued at cost where historical records are available and at estimated historical cost where no historical records exist. Donated fixed
assets are valued at their estimated fair market value on the date received. The costs of normal maintenance and repairs that do not add to the value of the assets or
extend asset lives are not capitalized. Improvements are capitalized and, in the proprietary funds, depreciated over the remaining useful lives of the related assets. The
City records contributions to enterprise from City, federal and state sources for property acquisitions as contributed capital.
General fixed assets are not capitalized in the funds used to acquire or construct them. Instead, capital acquisition and construction are reflected as expenditures in
governmental funds, and the related assets are reported in the general fixed assets account group. Assets in the general fixed assets account group are not depreciated.
Public domain or infrastructure fixed assets are excluded from the general fixed assets account group. Public domain or infra -structure assets include roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems, lighting systems and similar assets that are immovable and of value only to the governmental entity.
Fixed assets purchased or acquired by proprietary fund types are recorded in the individual fund making the purchase. Any fixed assets donated specifically for an
enterprise fund are also recorded in that individual fund. Depreciation has been provided for the property, plant and equipment of the proprietary funds using the
straight line method. The useful lives of these assets have been estimated as follows:
Buildings 20-50 years
Improvements Other than buildings 10-50 years
Machinery, vehicles and equipment 5-20 years
Water and Sewer lines, pump stations 10-50 years
Taxes and assessments
An allowance for uncollectible accounts was not maintained for real and personal property taxes and special assessments. The direct write-off method is used for these
accounts.
20
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
1. Summary of Significant Accounting; Policies - con't.
Enterprise Accounts Receivable
A reserve for estimated uncollectible accounts receivable is maintained for the Water Fund, Sewer Fund and the Ambulance Fund. The reserve balances are as follows
for June 30, 2002: 03
Water $ 5,898
Sewer $ 12,482 i 'Z 1" 0
Ambulance $ 104,923 I C ,
Inventories and Prepaid Items
Inventories for materials and supplies for governmental fund types are expended at the time of purchase. Enterprise Fund Inventory of materials and supplies are
valued at cost. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items.
Vacation and Sick Leave
It is the City's policy and state law to permit employees to accumulate a limited amount of earned but unused vacation benefits, which will be paid to employees upon
separation from City service. Employees are allowed to accumulate and carry over a maximum of two times their annual accumulation of vacation, but no more than
90 days into the new calendar year. There is no restriction on the a mount of sick leave that may be accumulated. Upon separation, employees are paid 100 percent of
accumulated vacation and 25 percent of accumulated sick leave. The liability associated with governmental fund -type employees is reported in the general long-term
debt account group, while the liability associated with proprietary fund -type employees is recorded in the respective fund.
Deferred Revenues
Deferred revenue results when asset recognition criteria have been met and when revenue recognition criteria have not been met. These pertain to the net uncollected
property tax and other receivables and are classified as Deferred Revenues on the combined balance sheet.
Long - Term Debt
Unmatured general long-term debt of the City, including special assessment debt for which the government is obligated in some manner, is recorded in a separate, self
balancing set of accounts, the General Long -Term Debt Account. Long-term debt of the proprietary funds, including enterprise related special assessment debt, is
reported as a liability in the specific fund making the debt service payments. For more information on the long-term debt of the City, see Note 7.
21
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
1. Summary of Significant Accounting Policies - con't.
Fund Equity
Reservations of fund balance represent amounts that are not appropriable or are legally segregated for a specific purpose. Reservations of retained earnings are limited
to outside third -party restrictions. The proprietary funds contributed capital represents equity acquired through capital grants and capital contributions from
developers, customers or other funds or governments.
Contributed Capital
Enterprise Fund contributions from grants, customers, special improvement districts and other outside sources restricted for capital acquisition or construction are
reported as contributed capital. Depreciation on assets acquired from contributions is reflected in the statement of revenue, expenses and changes in retained earnings.
The amount of depreciation applicable to assets acquired through contribution from grants, entitlement, and shared revenues is transferred to the related contribution
.account instead of retained earnings.
Enterprise Fund resources received from grants, entitlement or shared revenue's which may be used for operations are reported as non operating revenues.
Interfund Transactions
Interfund transactions comisting of identified services performed for other funds or costs billed to other funds are treated as expenditures in the fund receiving the
services and as revenue in the fund performing the services. Transactions which constitute reimbursements of a fund for expenditures or expenses initially made from
it which are properly applicable to another fund are recorded as expenditures in the reimbursing fund and as reductions of the expenditures in the fund that is
reimbursed. Advances between funds are accounted for in the appropriate interfund receivable and payable accounts.
Cash and Cash Equivalents
The City considers for the purposes of the statement of cash flows, all investments of the proprietary fund types, except for investments in sidewalk and curb warrant
to be cash equivalents.
Investments are carried at cost, which approximates fair value.
Total Columns on Combined Statements
Total columns on the Combined Statements are captioned Memorandum Only to indicate that they are presented only to facilitate financial analysis. Data in these
columns do not present financial position, results of operations or changes in financial position in conformity with generally accepted accounting principles. Neither is
such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
22
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30. 2002
2. Property Taxes
The City's real estate property tax is levied on the assessed value listed as of January 1 for all real property located in the City. Assessed values are established by the
State Department of Revenue based on market value. A revaluation of all property is required to be completed on a periodic basis. Taxable value is defined by State
statute as a fixed percentage of market value.
The City is permitted by State statutes to levy taxes up to certain fixed limits for various purposes. The taxes levied by the City for the year ended June 30, 2002 were
within legal limits. The tax levies were based upon a taxable value of $ 21,351,734. Taxes are due in two equal installments on November 30 and May 31 of each
fiscal year. The tax billings are considered past due after the due dates are subject to penalty and interest charges.
3. Deficit Fund Balances
The following Funds had deficit fund balances at June 30, 2002:
Debt Service Funds: Special Revenue Funds:
1992 Sidewalk & Curb $ 272 ISTEA $ 12,625
1993 Sidewalk & Curb $ 11
1994 Sidewalk & Curb $ 683
1997 Sidewalk & Curb $ 181
SID337 $ 12,847
Capital Project Funds:
4290 Sidewalk Construction $ 653
The deficits in the Debt Service funds were caused by a short -fall in anticipated revenue and will be eliminated as delinquent assessments are collected. Sidewalk
construction will be reimbursed by homeowners or sale of warrants. The ISTEA Fund is due $16,111 from the State of Montana.
4. Budget Variances
A significant unfavorable budget to actual variance in intergovernmental revenue in the special revenue funds related to anticipated grant revenue which was not
realized during the fiscal year. Favorable variances in public works, housing and community development, and capital outlay expenditures in special revenue funds are
due to conservative budgeting and delayed projects.
Favorable variances of taxes/special assessment revenue in the debt service funds are due to increased growth in the Westside TIF district and higher than anticipated
assessments in SID 343.
The significant variance of expenditures in the capital project funds is due to the construction delay of the new aquatic facility.
23
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUKE 30, 2002
5. Cash in Treasury/Investments
Cash in Treasury may include cash and cash items; demand, time, savings and fiscal agent deposits; investments
in the State Short-term Investment Pool (S.T.I.P.);
direct obligations of the United States Government; and repurchase agreements.
The composition of Cash in Treasury on June 30, 2002, was as follows:
Primary Gov't.
Components
Reporting Entity
Cash on hand $ 1,400
$ 27,048
$ 28,448
Cash in Banks: demand deposits 218,984
11,988
230,972
time deposits 45,862
10,978
56,840
Bidders bonds 62,425
62,425
Bonds/Warrants 22,590
22,590
STIP $ 20.481,149
$20,481.149
Total $ 0.832.410
50 0 L4
$20,882,424
Deposits - at year end, the carrying amount of the City's deposits was $ 245,832, which includes $26,848 of Tri-City Planning funds. These deposits include demand
and time deposits. Of the bank balances, all were covered by Federal Depository Insurance or were covered by securities held by the pledging financial institutions
trust department or agent in the City's name. The $23,166 belonging to the Parking Commission, a component unit of the City, was completely covered by Federal
Depository Insurance.
Montana statutes require that the City obtain securities for the uninsured portion of the deposits as follows: 1. Securities equal to 50% of such deposits if the institution
in which the deposits are made has a net worth to total assets ratio of 6% or more, or 2. Securities equal 100% of the uninsured deposits if the institution in which the
deposits are made has a net worth to total assets ratio of less than 6%. State statutes do not specify in whose custody or name the collateral is to be held. The amount
of collateral held for the City deposits at June 30, exceeded the amount required by State statutes. The City held no investments subject to risk categorization as of
June 30, 2002.
24
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
5. Cash in Treasury/Investments- con't.
Governmental Accounting Standards Board (GASB) Technical Bulletin No. 94-1 requires governmental entities participating in an investment pool to disclose certain
types of securities held in the pool. As noted above, the City invests in the State Short -Term Investment Pool managed by the State of Montana. This pool contains
two types of investments required to be disclosed, which are Asset -backed Securities and Variable Rate (Floating Rate) securities.
Amounts (unaudited) invested by STEP in each type as of June 30, 2002, were as follows:
Category i %
Asset -backed $912,373,688 60.75
Variable rate 491,045,356 32.70
Other Securities 98.394,408 6.55
Total 1,501,813,452 100.00
Amounts invested by the City in STIP may be redeemed at any date at the carrying value on that date.
According to GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and External Investment Pools, STIP is considered and External
investment pool. STIP is also classified a " 2a7-like" pool. A 20-like pool is an external investment pool that is not registered with the Securities and Exchange
Commission (SEC) as an investment company, but has a policy that it will, and does, operate in a manner consistent with the SEC's Rule 2a7 of the Investment
Company Act of 1940. If certain conditions are met, 20-like pools are allowed to use amortized cost rather than fair value to report net assets to compute unit values.
The Board of Investments has adopted a policy to treat STIP as a 20-like pool.
Audited financial statements for the State of Montana's Board of Investments are available at 555 Fuller Ave. in Helena, Mt.
25
6. Property, Plant and Equipment
A summary of changes in general fixed assets follows:
July 1.2001
Land
$ 1,980,606
Buildings
9,381,179
Improvements other than buildings
3,537,464
Machinery & equipment
3,586,133
Construction in Progress
53,381
TOTAL
18.538.763
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
Additions
Deletions
June 30. 2002
$ 17,291
$ (74,544)
$ 1,923,353
272,533
(16,027)
9,637,685
455,553
(22,387)
3,970,630
145,170
(416,462)
3,314,841
1,459,110
(10,145)
1,502.346
2.349.657
(539.5641
$20.348.855
The City Council approved a new capitalization policy for fixed assets, Resolution #4704 The policy establishes a minimum cost of $5,000.00 and an expected life of
5 years. Additions do not include capital outlay expenditures for public domain or infrastructure asset acquisitions. The new policy was implemented in fiscal 2002.
Financial Accounting Standards Board (FASB) Statement No. 34 - Capitalization of interest - requires that interest expenditures incurred during construction of assets
be capitalized. During fiscal 2002, no interest costs were capitalized.
A summary of proprietary fund type property, plant; and equipment at June 30, 2002 follows
Enterprise
Internal
Funds
Service
Land
$ 221,513
Machinery & equipment
2,042,577
$ 323,912
Construction in progress
459,357
Source of supply
767,838
Pumping plant
1,442,054
Treatment plant
14,664,123
Transmission & distribution
19,671,137
General plant/buildings
1,671,426
Storm sewer system
4.317,629
Total
$ 45.257,655
$ 323,912
Less Accum. Depreciation
(18392.440)
(242.571)
Net
$ 26 865,215
$ 81.341
Component unit
Parkin Comm.
$ 45,564
9,765
$ 55.329
(41,191)
4 '�
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
7. Long-term Debt
The following is a summary of long term debt transactions of the City for the fiscal year ended June 30, 2002.
Balance
Balance
July 1, 2001
Additions
Reductions
June 30, 2002
(1)G.O. Bond
0
3,675,000
0
3,675,000
(1,2) Revenue Bonds
6,355,740
2,462,569
(2,821,295)
5,997,014
(2) SRF Loan-WWTP
2,607,000
(182,000)
2,425,000
(1) Assessments
1,798,275
1,209
(131,894)
1,667,590
(1) Urban Renewal Bonds
240,000
(240,000)
0
(1,2) Contract Debt/loans
613,135
(76,504)
536,631
(1,2,4) Comp. Absences
_ 1.031.588
24,282
(105.458)
950,412
12.645.738$6,163,060
$ (3.557.151)
15.25 L647
(1) Long-term debt account group (2) Reported in enterprise fund (3) Reported in internal service fund (4) Reported on Proprietary Component Unit
Bonded debt:
Bonded Debt at June 30, 2.002 is comprised of the following individual issues:
During FY02 the voters of the City of Kalispell approved a new G.O. Bond issue of $3,675,00 for the construction of a new aquatic facility and skateboard park.
The facilities were to be constructed in Woodland Park with work to begin in spring of 2002. The construction of these facilities has been delayed because contractor
bids conflicted with the engineers estimates.
General Obligation bonds of the City are secured by the general credit and revenue raising powers of the City.
1. General Obligation Bonds:
Final Outstanding Annual
P ose Issue Date Int. Rate Tenn Maturity Amount June 30. 2002 Pint.
Aquatic Facility 4/15/2002 2.0-4.9% 20 yrs 2022 7 0 0 _ 75g000 varies
27
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
7. Long-term Debt-con't
2. Revenue Bonds:
Revenue bonds are directly
related
to and expected to be paid
from the Proprietary Fund. The 2000 Westside Tax Inc. bonds are accounted for in LTDAG.
Issue
Interest
Term of
Final
Bonds
Outstanding
Annual
Purpose
Date
Rate
Bonds
Maturity
issued
June 30. 2002
Pvmt.
2001 Water Bonds
6/01
4.00%
20yrs
2021
$ 761,000
$ 735,000
varies
2000 Solid Waste
3/01
4.75%
5yrs
2006
$ 159,265
$ 132,721 X
varies
1996 Water Bonds
6/96
5.5%
15yrs
2011
$1,060,000
$ 735,000
varies
1991 WWTP-refunding
4/91
7.18%
20yrs
2011
$2,815,000
$ 0''
varies
1997 Sewer -refunding
5/97
5.08%
9yrs
2006
$ 925,000
$ 0`''
varies
2002 Swr/WWTP refund _4/02.,..___3.51%_
___
9yrs._ _. _
___2011
$2,355,000 _ ______$2,2_80,000.
___
__varies _.
2000 Westside Tax Inc.
3/00
6.21%
10yrs
2010
$2,500.000
$ 2,114.293 '
$339,350
Total Revenue Bonds
$10,575,265
5997.014
Significant_ provisions of the 1996 and 2001 Water Svstem Revenue Bonds are as follows:
Debt Service Account
Monthly an amount equal to not less than 1 /6 of the interest due within the next six months and 1 /12 of the principal to become due within the next twelve months shall
be credited to the debt service account.
Reserve Account
The City shall keep in the reserve account an amount equal to the lesser of 10% of the original principal or the maximum amount of principal and interest
requirements.
Property Insurance
The City will cause all buildings, properties, fixtures, and equipment to be kept insured in amounts that are ordinarily carried.
Liability Insurance
The City will carry insurance against liability of the City and its employees.
W.
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
7. Un2-term Debt-con't
Rates and Charges
Net revenues will be at least equal to 125% of the maximum principal and interest requirements for all future fiscal years.
Rates and charges will be made and kept sufficient to provide gross income and revenues adequate to pay promptly the reasonable and current expenses of operating and
maintaining the system and to produce in each fiscal year net revenues in excess of such current expenses, equal to 125% of the maximum amount of principal and interest
payable from the Revenue Bond Account in any subsequent fiscal year. The debt service reserve account contains $106,000. The SRF loan reserve account contains
$55,998.
Cash Flow Coverage
Water Service Charges
$ 1,217,421
Miscellaneous revenue
$ 15.478
Total Operating Revenue
$ 1,232,899
Less: Operating Expense (before Depreciation)
$ 880,346
Available for Debt Service
$ 352,553
Maximum Debt Service
$ 163,378
Coverage
216%
Sewer Revenue Bonds Ordinances and Required Information
1. The City will establish a separate revenue bond account into which will be paid each month an amount equal to but not less than the sum of 1/6 of the interest due
within the next six months and 1/12 of the principal due within the next twelve months with respect to all Bonds secured by the ordinance and payable from that
account, and into which shall be paid each month additional net revenue equal to 1/60 of the maximum amount of principal and interest to fall due within any
subsequent fiscal year on all such bonds until a reserve equal to such maximum amount of principal and interest is established, which reserve shall thereafter be
maintained.
29
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
7. Lon2-term Debt-con't
2. Rates and charges will be made and kept sufficient to provide gross income and revenues adequate to pay promptly the reasonable and current expenses of
operating and maintaining the system and to produce in each fiscal year net revenues in excess of such current expenses, equal to 125% of the maximum amount
of principal and interest payable from the Revenue Bond Account in any subsequent fiscal year.
Cash Flow Coverage FY02
Sewer Service Charges
$ 2,496,314
Storm Sewer Assessments
269,362
Total Operating Revenue
$ 2,768,870
Less: Operating Expense (before Depreciation)
1.605.151
Available for Debt Service
1.163.719
Maximum Debt Service
$ 533.348
Coverage
219%
Reserve for Operating Expenses is maintained equal to 1 /12 of the annual cost of operations. Operating expenses for FY02 were $1,605,151.
$1,605,151 divided by 12 = $133,763. The Sewer operating Reserve balance is $128,000.
Additionally, the Evergreen agreement requires $302,727 annually be placed in a replacement reserve; this increases actual bond coverage.
The City shall maintain an Operating Reserve equal to one month's operating expenses. The term operating expenses shall mean current expenses, paid or
accrued, or operation, maintenance and current repair of the system and its facilities, and shall include administrative expenses of the City relating solely to the
system, premiums for insurance on the properties, labor and the cost of materials and supplies used for current operation and for maintenance, and charges for the
accumulation of appropriate reserve for current expenses which are not recurrent monthly but may reasonably be expected to be incurred in accordance with
sound accounting practices. Such expenses shall not include any allowance for depreciation or renewals or replacements of capital assets of the system and shall
not include any portion of the salaries and wages paid to any officer or employee of the City, except such portion as shall represent reasonable compensation for
the performance of duties necessary to the operation of the system.
30
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
7. Long-term Debt-con't
4. The City shall, within 120 days after the close of each fiscal year, cause to be prepared and supply to the original purchaser or purchasers of Bonds issued
hereunder and the bank or banks designated as agent for the payment of principal of and interest thereon a financial report with respect to the system of such fiscal
year as prepared by an independent certified public accountant.
The audit report shall include the following:
a. a statement in detail of the income and expenditures of the system for the fiscal year, identifying capital expenditures and separating them from operating
expenditures;
b. a balance sheet as of the end of the fiscal year;
c. the number of premises connected to the system at the end of the fiscal year;
d. the amount on hand in account of the Sewer System Fund at the end of the fiscal year;
e. a list of the insurance policies and fidelity bonds in force at the end of the fiscal year, setting out as to each the amount thereof, the risks covered thereby,
the name of the insurer or surety and the expiration date of the policy or bonds; and
f. a determination that the report shows full compliance by the City with the provisions of this ordinance during the fiscal year covered thereby, including
proper segregation of the capital expenditure from operating expenses, maintenance of the required balance in the Revenue Bond account, and the
receipt of net revenue during the fiscal year at least equal to 125% of the maximum amount of principal and interest payable from the Revenue Bond
account in any subsequent fiscal year; or if the report should reveal that the revenues have been insufficient for compliance with this ordinance, or that
the methods used in accounting for such revenues were contrary to any provision of this authorizing ordinance, the report of audit shall include full
explanation thereof, together with the recommendations for such change in rates or accounting practices or in the operation of the system as may be
required.
31
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
DUNE 30, 2002
7. Long-term Debt-con't
The following are the required disclosures which are not contained elsewhere in the audited financial statements.
Number of premises connected to the system at the end of the year: 6440
Amount of cash on hand in each account of the Sewer System at the end of the fiscal year:
Unrestricted Cash
$
806,954
Sewer Operating Reserve
$
128,000
Replacement
$
1,584,992
Sewer Capital Improvement
$
1,176,538
Replacement and Depreciation
$
22,590
Replacement and Depreciation -Evergreen
$
2,132,312
Storm Maintenance
$
879,710
Bond Reserve
$
650.550
Total
7.3 81.646
Schedule of Insurance Policies at June 30, 2002:
Montana Municipal Insurance Authority
1. Fidelity bond coverage has a $5,000,000 limit for employee and computer fraud. The fidelity bond also covers messengers with a
$1,000,000 limit. The bond coverage includes a $5,000 deductible. Expires July 1, 2002.
2. Property Insurance: Blanket building policy with $25,000,000 limit and a $2,500 deductible per event. Boiler and machinery policy with
$50,000,000 limit and $2,000 deductible. Expires July 1, 2002.
3. Liability Insurance: $750,000 per occurrence which arises or derives from injury to or death of a single person or damage to property of a
single person regardless of number of persons or entities claiming damages. $1,500,000 per occurrence not covered as stated above. A
$2500 deductible applies. Expires July 1, 2002.
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
7. Long-term Debt-con't
Significant provisions of the 2001 Solid Waste System Revenue Bonds
Debt Service Account
Monthly an amount equal to not less than 1 /6 of the interest due within the next six months and 1 /12 of the principal to become due within the next twelve months shall
be credited to the debt service account.
Total Required $ 24,095
City's Reserve $ 24,095
Reserve Account
The City shall keep in the reserve -account an amount equal to the lesser of 10% of the original principal or the -maximum amount of principal and interest
requirements.
Total Required Reserve $15,927
City's Reserve $16,000
Rates and Charges
Net revenues will be at least equal to 125% of the maximum principal and interest requirements for all future fiscal years.
125% of Maximum Debt $37,879
Net Revenues $76,877
33
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
TUNE 30. 2002
7. Long-term Debt-con't
Significant provisions of Series 2000 Westside Urban Renewal Tax Increment Bond
Reserve Account
The City shall keep in the reserve account an amount equal to the maximum amount of principal and interest due on all outstanding bonds of the Westside Tax
Increment District in the then current or any future fiscal year.
O/S Bond
Max Principal and Debt Due in any future fiscal year $339,350
City's Reserve $191,698
Pledged Revenues
The City shall generate revenues from: 1) interest repayment of a loan to Stream International, 2) user fee equal to Stream's Montana corporation license tax, 3)
revenues generated from the Westside Tax Increment District, and 4) $125,000 from Flathead County Economic Development Authority levy that will be sufficient to
pay the principal thereof and interest thereon when due.
During fiscal year 2002, the total bond payments due equaled $339,350. The Port Authority contributed $125,000. Westside Tax Increment District generated
$406,885.
The Board of Investments loan for the Stream Project has interest rates dependant on the creation of jobs. Stream International, Inc. is a computer
Support center anticipating creating over 500 new jobs for the Kalispell area. The Loan of $2,500,000 to the City is for the purchase of 60,000 sq. ft
of the old Gateway West Mall. The area is being rehabilitated as part of a Westside Urban Renewal District (TIF) project The Stream organization is
leasing the property back. Extensive enhancements were provided to entice this company to come to Kalispell. The County Port Authority has also
committed $125,000 per year toward the debt service. This loan has a first lien on the Tax Increment of the District. The Port will be managing the
physical property.
34
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
7. Long-term Debt-con't
3. Tax Increment Urban Renewal Bonds:
Downtwvvn Tax Increment Urban Renevval Bonds
In December, 1985, the City issued $2,100,000 in Tax Increment Urban Renewal Bonds pursuant to Title 7, Chapter 15, Parts 42 and 43 MA and pursuant to the
Bond Resolution adopted by the Kalispell City Council. These Series 1985 Bonds are considered to be special obligations of the City payable solely from tax
increment generated by the area. The City has irrevocably pledged and appropriated the tax increment to the payment of the Series 1985 Bonds which have a first lien
on all tax increment revenue generated by the area. The series 1985 Bonds do not constitute a general obligation of the City or pledge the ad valorem taxing power of
the City. Although the long-term liability created by the issuance of the bonds is considered a fund -specific liability, it is reported as a liability in the general long-term
debt group as required by generally- accepted accounting principles. At June 30, 2002 there was $2.636.667 in assets(cash and receivables) available in the Tax
Increment Special Revenue Fund to complete contracts remaining at year end. Bonds were paid off June 30a'. fund will be closed when all existing contracts are
completed.
Issue Interest Term of Final Bonds Outstanding Annual
PurTose Date Rate Bonds Maturity- Issued June 30. 2002 Pymt.
Tax Increment 12/85 6.25-9.5% 16 yrs 7/01 /02 2. 00 000 $ _ 0 varies
35
CITY OF KALI SPELL
NOTES TO FINANCIAL STATEMENTS
.TUNE 30, 2002
7. Lont-term Debt-con't
4. Special Assessment Bonds
Issue
Interest
Term of
Final
Bonds
Outstanding
Annual
Purpose
Date
Rate
Bonds
M aturivy
Issued
June 30. 2002
Pvmt.
SID 341-sewer
09/01 /95
6.06 %
15 }rs.
2011
100.000
50,000
varies
SID 342-sewer
11 /01 /95
6.34 %
15 vrs.
2011
209.000
90.000
varies
SID 343-sewer
06/12/01
20yrs.
2021
1,581,500
1,505,000
varies
1994 Walk & Curb
12/31 /86
8.5 %
8 yrs.
2003
28,513
3,500
varies
1995 Walk & Curb
01/02/96
8.5 %
8 vrs.
2004
22.823
5,704
varies
1996 Walk & Curb
01/02/97
8.5%
8 vrs
2005
12.148
4,555
varies
1997 Walk & Curb
10/01/98
8.0%
8 vrs.
2006
8.572
3,215
varies
1998 Walk & Curb
01/01/99
7.75%
8 vrs.
2007
1,687
1,054
varies
1999 Walk & Curb
01/01/00
8.50%
8 }rs
2008
1,769
1,327
varies
2000 Walk & Curb
01/02/01
9.50%
8 yrs
2009
2,315
2,026
varies
2001 Walk & Curb
01/02/02
5.00%
8 vrs
2010
1209
1.209
varies
Total Special Assessment Bonds
1,969,536 -
] .667.590
Special assessment bonds are secured by a lien on the assessed properties. The primary source of repayment is the assessments levied against the benefiting
properties. However, the City is liable. to an extent, for repayment of these special assessment bonds. The City is authorized by State law to establish and has
established a revolving fund to ensure the payment of debt service on the bonds in the event that assessed property owners default.
5. State Revolving Fund Loan:
In November 1991, the City entered into an agreement with the State Revolving Fund (SRF) to borrow funds to partially finance the construction of a wastewater
treatment plant facility. This obligation is to be repaid from the operating income of the Sewer Fund.
Interest Amount Outstanding
Rate Term Borrowed June 30.2002
Sewer-SRF Loan 4016 20 ors. S 3.913.425 $ 2.425 000
36
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
7. Lon2-term Debt-con't
6. Loans/Contracted Debt:
General Lone Term Debt Group of Accounts
Origination
Interest
Due
Principal _
Outstanding
Purpose
Date
Rate
Term
Date
Amount
June 30. 2002
*BQ.ard_ofHousing
3/01/1995
6.0%
30yrs
2/01/2025
$271,000
$-241,270
BOI: Road Grader
2/25/2000
5.6°/o
7 yrs
2/15/2007
$ 122,382
$ 90,908
BOI: Fire Truck
2/15/2000
5.6%
5 }vrs
2/15/2005
$ 87,603
$ 54.678
BOI: Bm Trk/LfLdr
1/26/2001
varies
5 yrs
2/15/2006
$ 88,950
$ 72,663
Enterprise Funds:
BOI: John Deere Loader 3/10/2000 varies 7)'rs 2/15/2007 $ 103.000 $ 77.115
Total Loans 6736.631
*BOI — Board of Investments Intercap Loan Program
*The Board of Housing loan is paid from the proceeds of the rents on the Courtyard Apartments per the agreement with NW Montana Human Resources.
7. Compensated Absences Payable:
Compensated absences payable, which represent vacation, sick leave and compensatory time earned by employees which is payable upon termination, were as follows:
Enterprise Funds $ 192,265
General Long Term Debt Group of Accounts $ 751,721
Parking Commission $ 6.426
Total 50 4 2
37
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30. 2002
7. Um2-term Debt-con't
Requirements to amortize debt
The annual requirements to amortize all long-term debt outstanding_ except compensated absences payable, as of June 30, 2002, including interest
payments are as follows:
Special
STREAM
Assessment
Contracted
Revenue
SRF
FY
Bonds
Bonds
Debt
Bonds
G.O. Bonds
Loans
Totals
2003
339,350
189,140
74,261
383.750
285,556
340,740
1.612,797
2004
339.350
185,944
75.352
380.907
286,025
340,960
1,608,538
2005
339.350
178J96
76.360
359-821
290.475
340.840
1.585.042
2006
339.350
181.844
57.458
343.268
289,463
340.340
1.551.722
2007
339,350
175,449
37,530
345,993
288,388
340,480
1,527,189
2008-2012
1.018.049
681470
1.381.815
1.187,825
1.702.820
5.942-976
2013-2017
551.200
1.454.155
420.480
2.425.835
2018-2022
292.000
1.450.385
194.140
1.936.525
Total
714 797
U4 6243
3.195.553.
5.502.271
4 020.800
&I&I90AL5
NU
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30.2002
8. State -Wide Retirement Plans
Substantially all full-time City employees are eligible for one of three retirement plans: Montana Public Employees' Retirement System (PERS); Municipal Police
Officer's Retirement System (MPORS): and the Firefighters, Unified Retirement SyStem(FURS). The plans are established by State law and administered by the State
of Montana. The plans are cost -sharing multiple -employer defined benefit plans that provide retirement; disability and death benefits to plan members and
beneficiaries. The City had a total payroll of $5,973,829 for FY02, of which $5,185,499 is covered by PERS; MPORS. or FURS. Component Unit payroll was
$47,632 for the Parking Commission; and $177,984 for Tri City Planning.
Contribution rates for the plans are required and determined by State law. The contribution rates; expressed as a percentage of covered payroll for the fiscal year
ended June 30. 2002. were:
PERS MPORS FURS
Employee 6.9% 9% 9.5 % - 10.7%
Employer 6.8% 14.41 % 14.36%
The Retirement System issues a publicly available financial report that includes financial statements and required supplementary information for all three plans. That
report may be obtained by writing to Public Employees Retirement Division; P. O. Box 200131. Helena; MT 58620-0131 or by calling 1-406-444-3154.
The City's contributions for the years ending June 30. 20007 2001 and 2002, as listed below, were equal to the required contributions for each year.
PERS
MPORS
FURS
PARKING COMM TRI CITY
2000 $ 177,833
$ 153,004
$ 118.148
$ 3,066
2001 $ 194,590
$ 167,019
$ 128,806
$ 3,156
2002 $ 212,574
$ 179.112
$ 136.878
$ 3,239 $ 12.103
9. Post Employment Health Insurance Benefits
Terminated employees may remain on the City s health insurance plan for up to 18 months if they pay the monthly premiums. This benefit is required under federal
C.O.B.R.A. law. Retirees may remain on the City's health plan as long as they wish, provided they pay the monthly premiums. State law requires the City to provide
this benefit. No cost can be estimated for the above benefits, although there is the probability that there are higher medical costs for retirees which would result in
additional costs to the insurance program. There are no other post -employment benefits provided by the City.
39
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30.2002
10. Amounts due to and from other Funds/Advances
Amounts due to and from other funds consist of
the following:
Due from: Ambulance Fund
$55,000
Due to: General Fund
$61-55 7
6050 Health Fund
6 557
Advance from UDAG
84 00
Advance to Westside TIF
-$84;900
Due From: Debt Service
Due to:
1992 S&C Fund
271
SID Revolving Fund
15.730
1993 S&C Fund
194
1994 S&C Fund
1.222
1996 S&C Fund
87
1997 S&C Fund
341
SID 337
13.615
SID & S&C total
15,730
IL Amounts due from other Governments/) ntities
Due from County: for May tag collections
_748 565
General Fund
$ 235 021
Debt Service Funds:
Special Revenue Funds:
S&C Funds
3-254
Comprehensive Insurance
10.028
SID 343
80.748
Retirement Fund
28.671
Stream Debt Service
51.184
Health Insurance Fund
26,991
Total Debt service
135.186
Tax Increment Fund
121,385
Enterprise Funds:
Urban Forestry
6,675
Storm SeNver Maint.
32.973
Street Maint. Fund
61.843
Solid Waste
56.576
Tax Increment Airport
16,813
Total Enterprise
89.549
Decorative Lights
1,093
Light Maint. Fund
15.260
Due from others:
Total Spec. Revenue
8288.�59
Sewer -Due from US Bank,
9925
40
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
.NNE 30, 2002
11. Amounts due from other Governments/Entities—con't.
Due from other Governments:
56.633
Due to other Entities:
General Fund:
Water Fund:
Tri-City Planning(component unit)
21 ,520
Due to developer -Willows
State of Mt. —police Reimb
1.540
Sewer Fund:
$23,06
Due to Village Green Sewer
Special Revenue Funds:
County -Drug Enforcement Grant
4,873
SID 343 Construction:
State- for ISTEA
16.111
Due contractor retainage
Justice -Resource Officer Grant
918
ISTEA Fund:
Justice -Resource Officer Grant
11.671
Due contractor retainage
_3.571
12. Restricted Cash/Investments
The following Restricted Cash/Investments were held as of June 30, 2002:
Enterprise
Funds
Water
Bond Reserve
106,000
Replacement
632,711
SRF Loan Reserve
55.998
Sewer
Operating Reserve
128,000
Bond Contingency
650.550
Capital Improvement
1,199,128
Storm Sewer
879,710
Replacement
1.584,992
Replacement -Evergreen
2-132,312
Garbage
Replacement -designation
126,761
Bond Reserve
16.000
Sinking & Interest
24.095
Enterprise Total
41
SILK
2,276
10,662
9,977
14,458
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
.TUNE 30, 2002
13. Fund Equity
Reserves and/or Designations of the City, at .tune 30, 2002 consisted of:
Special Revenue Funds:
UDAG — Advance to other Fund 84.900
Community Development — Int. Subsidy/Do�arntown 220.156
Community Development -Courtyard Reserve 29.207
Special Revenue Funds Total 49 36
Debt Service:
Reserve for Bond Contingency $ 439�96
Internal Service:
Designated for Replacement 49.591
42
EnterDn'se Funds
Water
- Reserve for Revenue Bond
$ 106.000
- Reserve for Sinking & Interest
0
- Reserve for Replacement
632,712
- Reserve for Inventory supplies
85.765
- Reserve for SRF Loan
55,998
Sewer
- Reserve for Operations
$ 128.000
- Reserve for Replacement -Sanitary
1,584,992
- Reserve for Revenue Bond
650,550
- Reserve for Sinking & Interest
0
- Reserve for Capital Improv/WWTP
1;199.128
- Reserve for Replacement/WWTP
2,132.312
- Reserve for Storm Sewer
2,014.081
Ambulance
-Designated for Replacement
$ 0
Garbage
- Designated for Replacement
$ 126.761
- Reserve for Revenue Bond
16.000
- Reserve for Sinking & Interest
24.095
Enterprise Funds Total
8.756.393
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30. 2002
14. Changes in Contributed Capital
A schedule of changes in contributed capital is presented below:
WATER
SEWER
TOTAL
Contributed Capital 7/I/01
$3,434,532
$ %714.389
$ 13,148,921
Add:
-7-7t
Contributions
491,124
64-� 92�4,
1.107,116
Depreciation on assets acquired by grants/contributions
$ 84.726
$ -�,v�p
$ 669.219
Total Contributed Capital 6/30/2002
$ 3.840 930
$ .745.$88
$ 13,586.818
15. Prior Period Adjustments
During the current fiscal year, adjustments relating to prior year transactions were made to the following funds:
Fund
Amount
Reason for Adjustment
General
$1,325
Due to County Treasurer FY00/1rom Court-surcharges/reinstatements
Westside Tif
($5,400)
Interest Expense FY00-01 UDAG Loan -booked accrual
UDAG
$5,400
see Westside TIF
ISTEA
($6,828)
correction (amount due from MT DOT)
Water Fund
($41387)
change in fixed asset policy
Sewer Fund
($2,423)
change in fixed asset policy
Ambulance
$( 1 J741
change in fixed asset polio-
Total
5 887
43
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
NNE 30, 2002
16. Se2ment Information for Enterprise Funds
The Cite maintains four Enterprise Funds which provide water, sewer, garbage and ambulance services. Segment information for 6/30/02 was as follows:
WATER
SEWER
AMBULANCE
GARBAGE
TOTAL
Operating Revenue
$ 1,232.899
$ 2,768,870
$ 749,939
$ 506-420
$ 5,258,128
Depreciation expense
313.594
1,174,155
44.585
91.217
1,623,551
Operating Income (loss)
24,453
(13,150)
(142415)
(147340)
(145,452)
Current Capital:
Contributions
491,124
615,992
0
0
1,107,116
Plant. Property & Equip:
Additions
1,024.484
789,516
85.806
10,100
1,909.906
-Deletions _
-1-1-6:3-44_
-40,491
49.,880_
22.588_-
_229,3.05_
Net Increase in Cash & Cash
Equivalents'
(I04,669)
135.950
(97;561)
53.870
587.590`
Total Assets
10,655.020
24,364,650
355,060
1,009,514
367384,244
Long-term Liabilities:
Payable from Operating Revenues
L572291
4.899.001
112.608
175.551
6.759.451
TotalEquit.%
$ 9.082.7?9
$ 19.465.649
24 _452
_833.96-,.
29.624.793
17. Couniv Provided Services
The City of Kalispell is provided various financial services by Flathead County. The County serves as cashier and treasurer for the City for tax assessment collections and
other revenues received by the County which are subject to distribution to the various taxing jurisdictions located in the County. The collections made by the County on
behalf of the City are accounted for in an agency fund in the City's name and are periodically remitted to the City by the County Treasurer. The County charges the City for
fees associated with City Special Assessments.
18. Joint Ventures
Joint ventures are independently constituted entities generally created by two or more governments for a specific purpose.
Cite -Count- Health Department - is operated under an interlocai agreement between Flathead County and The City of Kalispell. The Department operates under the
supervision and control of the City -County Health Board. The Board consists of seven members, six of whom are appointed by the Board of County Commissioners. The
County taxed the property owners directly for the City's contribution for the fiscal vear ended June 3.0. 2002 at an equivalent rate of mills.
44
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
20. Health Insurance
In October 1993, The Cite established an internal service fund for the City's self -insured health insurance plan. The plan is administered by Blue Cross/Blue Shield of
Montana. The City pays premiums recommended by Blue Cross into the City Health Fund. The claims are submitted weekly by Blue Cross and paid out of this fund. The
City pays the total monthly premium for all full-time employees and their dependents. Vision is optional and paid by the ern o�tee. The plan pays 80% of the medical claims
after the $100 deductible for each employee and covered dependent has been satisfied, up to a total of $200 maximum family deductible. Generic prescription drugs are
100% covered. Dental claims are paid 100% if the dentist is a participating Blue Cross dentist: otherwise 80% of the claims are paid. A "stop -loss"' policy has been
purchased to cover any claims that exceed $75,000 per individual or aggregate claims of 115% of claims projected by Blue Cross.
Claims Payable, June 30, 2001
$124,219
Claims Incurred
$1,203.044
Claims Paid
$1.286.575
Claims Payable, June 30, 2002
40 688
Due to the increasing cost of health care, the City has changed the benefits effective July 1, 2002. Employees now share the cost of premiums and deductibles have been
increased to $300/$600.
21. Pending Litigation
The following is a list of litigation pending against the City and the amount of damages claimed by the Plaintiff. The City Attorney has made no evaluation as to the outcome
of each case. The City has liability insurance that may cover all or part of the damages. Accordingly, no provision has been made in the financial statements for these
contingent liabilities.
Grey vs. City of Kalispell
Broad vs. City of Kalispell
NuPac vs. City of Kalispell
KPA vs. City of Kalispell
Storli vs. City of Kalispell
Olson vs. ABC/City of Kalispell
Damaees reauested
$ 50.000
not stated
$70,000
$40,000
$ I ,000.000
$1.000
Potential of Loss Status
unknown 9"' Circuit appeal
remote
remote
possible
remote
possible Justice Court
46
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JZ INE 30, 2002
22. Loans Receivable
The City entered into a community development program; which includes funding from a community development block grant, to make available to eligible applicants
(low -to -moderate income residents), a loan for at least one-half of the required rehabilitation cost. These funds from the City, together with loans from the First
Federal Savings Bank (now Glacier Bank) of Montana, the lender. must provide the total funds required for the purchase and rehabilitation of the housing unit. At the
time the bank loans are closed with the borrower, the proceeds of the City's loan will be deposited into the borrower's construction account at First Federal. The City's
loan is secured by the property, and filed in a third lien position. Repayment of the City loan Nvill not begin until 30 days after the Lender's loan (second lien) for
construction of the unit has been paid off. The City's loan is interest free until such time as repayment begins. The maximum amount of a private lender loan cannot
exceed $20,000 per property with a ten-year pay back.
In addition, when an owner -occupant is unable to afford a private lender loan at the pre -determined interest rate agreed to by the City and lender, he or she may qualify for
City financing. The City may provide a direct loan of up to $25.000 with a varying interest rate (as low as zero percent) or with a longer amortization period (maximum of
fifteen years) or a deferred loan to be repaid simultaneously, at a later date, with a balloon payment, or to be released at the end of ten years.
The City has $1,398,474 recorded as loans receivable as of June 30, 2002 in the Community Development Loan Revolving Fund. The above mentioned loans are offset with
deferred revenue accounts. Uncollected receivables in governmental funds are offset with deferred revenue accounts as explained in the "basis of accounting".
The following loans were made by the City using Urban Development Assistance Grant (UDAG) funds:
A 20 year redevelopment loan at 5% with Big Sky Manor in August 1999.
Original Loan amount $ 124,000
June 30, 2002 balance $ 112,989
A 20 year redevelopment loan at 6% with United Way in Januany 2000.
Original Loan amount $ 133,500
June 30, 2002 balance $ 124,507
A 10 year loan with Stream, Inc. at 11% as part of the package to bring Stream Jobs to Kalispell. The interest earnings are to be split with 5.6% committed to the debt
service fund to pay off the Stream Bonds. The remaining 5.9% interest and the principal will be returned to the UDAG fund.
Original Loan amount $ 1,000,000
June 30, 2002 balance $ 878.297
47
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
23. Cite Court Contracts Receivable
Contracts receivable of the City Court. because of the uncertainty regarding when and if they will be collected, will no longer be booked as an asset on the balance sheet of the
General Fund. These receivables. at June 30. 2002_ amounted to $270.191.
24. WasieAw,ater Treatment Plant agreement with Evergreen
The Cin' of Kalispell entered into an Interlocal Agreement with the Evergreen Sewer District 41 for treatment of sewage from the district at the City's plant. The Evergreen
district sewer- went into operation in July 1994. The City bills Evergreen monthly_ for debt service at 22% of the principle and interest due for the plant. The City also bills for
maintenance and operation and replacement costs per the agreement based on metered flows. Evergreen Sewer- District has an equity interest in the replacement account
carried on the City's books. The balance of the account as of June 30, 2002 is $2,132,312 of which Evergreen's interest is $450,211. The City_ of Kalispell has sole
responsibility for the use of these funds.
25. Component Units
Kalispell Parking Commission
The Kalispell City Council passed Resolution 4103, a Resolution of intention to create Special Parking District #2 on June 21, 1993. Also passed was Resolution 4104, a
resolution of intention to provide for funding the cost of maintaining, operating, repairing, and improving Special Parking Maintenance District #2 and Resolution 4105, a
Resolution declaring the need for a Parking Commission to function in the City of Kalispell and declaring a jurisdictional area wherein said Parking Convnission is authorized
to function. The Mayor and City Council appointed the Board of Directors composed of City residents who operate businesses within the district. It is the intention of the City
of Kalispell that the downtown business community manages the parking for the downtown district. The Parking Commission opened their doors on February I st 1994. The
City transferred $53,000 in Fiscal 1994 to the district as start up money_ no further Cite funds have been given to the district. It is intended that the Parking Commission be
operated as a Proprietary type fund and has been classified as such in the City's financial statements.
48
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2002
25. Component Units, cunt.
Tri Citv Planning
On June 30, 2001 Flathead County pulled out of the County -wide Administrative Board (CAB) which funded the Flathead Regional Development Office (FRDO).
The CAB was a Joint Venture between the County, and the Cities of Kalispell, Whitefish, and Columbia Falls. The CAB created FRDO for the purpose of
coordinating all land use planning, reviewing and approving subdivisions, and zoning and enforcement in Flathead County. FRDO also assisted in annexations by the
cities.
On July 1, 2001 the Tri City Planning Office was created by interlocal agreement between the three cities that were served by FRDO. The purpose of the Tri Cite
Planning Office is to perform the functions of FRDO as they relate to the cities, namely to provide long range and current land use planning services. The Tri City
Planning Board is made up of the Citv Managers; representing the Mayor and City Council. of the three cities. The City of Kaliseries as the administrative agent
at the pleasure of the Board. The employees are paid through the City of Kalispell payroll system and are included in its self insured health program. Cost of operating
the office is split between the cities, proportionate to their expected benefit. Some costs of operating are recovered through planning fees.
A lawsuit has been filed against Flathead County on behalf of the Tri City Planning office by the Cities. The lawsuit seeks an equitable distribution of the cash account
of the former CAB. Flathead County distributed the funds as they deemed appropriate, however. the three cities returned all the funds and decided to seek a settlement
through the courts.
Deferred compensation payable of the Tri City Planning office at June 30, 2002 is $4-62`77— 39 7z'
General Fixed Assets of the Tri City Planning office at June 30. 2002. net of depreciation are $29.094.
CITY OF KALISPELL
NOTES TO FINANCIAL STATEMENTS
JUKE 30, 2002
26. Stream International
Flathead County Economic Development Authority, Flathead County and the Ciiv of Kalispell entered into an inter -local agreement to purchase 59,000 square feet of the
Gateway West Mall for $2.5 million and sign a ten-year lease with Stream International. Ltd. The City of Kalispell agreed to acquire the property by issuing a $2.5 mi tax
increment urban renewal bond. The Citv then conveyed the property to the Authority as "tenants in common'. The County through the Authority became vested with an
undivided 37% interest in the property with the City vested with the remaining 63% interest. As a result of this conveyance. the Authority recognized its portion of the
building and the related debt on their books.
The Authority is responsible for the operation maintenance of the property_ during the term of the initial ten-year lease. The Authority is also responsible for the carrying of
property insurance against the property. The City has agreed to reimburse the Authority for its proportionate share of these costs.
The Authority has agreed to levy up to two mills or $156.000 for the term of the bond. and has pledged $125,000 of the revenue generated each vear to be remitted to the City
of Kalispell in two equal installments of $62.500 that will be used toward the retirement of the tax increment bond. The authority shall also set up and contribute $3,000 to a
building reserve fund each year of the lease. The reserve will be used for am repair or construction work deemed necessary in maintaining the propem .
The City issued the tax increment bonds in its name and agrees to be punctual in all debt payments.. and will keep all proper records and meet all necessary requirements of
the bond resolution. The City shall also set up and contribute $5.000 to a building reserve fund for each year of the lease. The reserve will be used for any repair or
construction work deemed necessary in maintaining the property. The Authority shall manage this building reserve.
The City has pledged the following revenues towards the repayment of the $2.5 million bond:
1. Half of the interest revenues generated from a million dollar loan to Stream ($38,000 per year).
2. An annual user fee that will be paid by Stream to the City equal to the amount of Stream's Montana corporate license tax obligation.
3. Tax increment money generated from the Westside Tax Increment District until the City reaches their share of the debt payment or $214.350.
4. The Authority's annual contribution of $125,000.
The County has agreed that it will approve the Authority's levy for an ad valorem property tax of up to two mills on all taxable property in the County. until the tax increment
bond is paid.
Within 180 days of the payment in full of the Bond, either the authority or the City may give notice to each other of intent to purchase the property. The purchase price to be
paid will be equal to the total debt service paid by the other party. The Authority has the first option of buying the propem from the City. If neither the Authority nor the City
want to purchase the property outright, then the City has granted American Capital a right of first refusal to purchase the property. The proceeds from the sale of the property
shall be distributed based on the equity interest each entity holds.
50
RBI. Financial Statements - by Fund type
C. Individual Statement - by Fund type
1. General Fund
a. Balance Sheet
b. Statement of Revenues, Expenditures
and Changes in Fund Balance
51
CITY OF KALISPELL
GENERAL FUND
BALANCE SHEET
JUNE 30, 2002
ASSETS:
LIABILITIES AND FUND EQUITY
10100
Cash Investments -unrestricted
S
1,107,604
LIABILITIES:
10200
Petty- Cash
S
950
20210
Accounts Payable
S
98,613
20620
Payroll Payable
S
102,567
Total Cash/investments
S
1,108,554
22310
Deferred revenue - real
S
129,167
Receivables:
2232o
Deferred revenue - personal
S
101,900
11300
Taxes receivable - real estate
S
129,053
22310
Deferred revenue - protested
S
160
11500
Taxes receivable - personal property
S
101,900
2238o
Deferred revenue - empl. Loans
S
46,681
11600
Taxes receivable - protested
S
115
I1810
Weed cutting assessment
S
160
Total deferred revenue
S
277,908
12510
Employee Loans Rec.
S
46,681
TOTAL LIABILITIES
S
479,088
Total receivables
277.909
S
FUND EQUITY:
13100
Due from other Funds
S
83,077
13230
Due from other County
S
235,072
271oo
Fund Balance
S
1,228,215
13225
Due from State
S
1,540
TOTAL FUND EQUITY
S
1,228,215
14100
Prepaid Salaries
S
1.151
TOTAL ASSETS
$
1,707.303
TOTAL LIABILITIES S FUND BALANCE
S
1,707,303
52
CITY OF KALISPELL
GENERAL FUND
NNE 30, 2002
BUDGET
REVENUES:
ACTUAL
AFTER
TRANSFERS
Account
311100
Real propert}'taxes
$ 1.890.280
$
1,865,318
311200
Personal property taxes
$ 69,911
$
67,290
312000
Pen/int. on del. taxes
S 8.600
S
8.511
314000
Light vehicle tax
S 187
TOTAL TAXES
T01 1.968.978
S
1,941,119
321010
M.V. plate fees
T24
$ 5.810
321030
Title reg fee
T24
$ 355
321070
REGRAT/MC FEES
$ 9,569
321005
Flat fees
T24
$ 1.569
322101
Alcohol bey licenses
T99
$ 19.356
$
20,865
322300
Business licenses
T99
$ 2,290
S
500
322500
Amusement Lisc.
$ 55(1
S
550
323100
Building & Zoning fees
T99
$ (43,10T)
S
35,250
323300
Animal licenses
T99
$ ' f512
$
1,000
TOTAL LICENSES/PERMITS
S 84,118
S
58,165
STATE SHARED REVENUES:
334015
Highway Traffic Safety
$ 8.623
S
25,000
331156
DUI Task Force Reimb.
$ 4,070
331162
Independ. Living Grant
$ 3,000
S
5,000
333040
PILT-Flathead Elec. Coop.
$ 24.872
335010
Liquor tax apport.
C89
$ 23,975
335015
Wine tax apport.
C89
$ 252
33.5020
Beer tax appoN.
C89
335030
M.V. tax -Ad valorem
C30
S 1.308
S
3,000
334055
Corp license tax
C30
S 694
334016
Justice -Law Enforce
C30
335075
Video Mach. Appon
335076
State Gaming Lic App
C89
$ 48.150
$
49,825
335077
Live Keno & Bingo
$ 1,447
$
2,500
335110
Live card game permits
C30
$ 2.400
S
1,700
335200
Pers. Prop. Reimbursements
C30
$ 1,781,664
$
1,748,020
'1'0'1'AL1N'1'ERGOVERNMEN'I'AL
-5— 3U77.Tth
S
1,83:5,0
53
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET
ACTUAL AFTER TRANSFER'
Account
CHARGE FOR SERVICES:
341010
Sale of pub., maps
S 2Q
$
5 0 U
341020
Admin charges A89
S 538,338
$
538,281
341025
City collections
S 4.851
$
3.600
341080
Board of Adjustment fees
S 350
$
7()(I
342010
Police/Fim services
S 37 231
$
52,000
Public works charges A89
343005
Central garage charge
S 129,550
$
130.000
343012
Public works charges
S 13,696
$
3,500
343015
TSS Reimbursement
S 7,029
$
20,000
Parks & recreation A61
346030
Pool
S 59,354
$
70,000
346050
Parks usage
$ 9,147
$
7.000
346051
Recreation
$ 24.897
$
25.000
346052
Basketball
S 11,177
$
12,000
346053
Ree Scholarships
$ 854
$
3.000
346060
Outdoor Scholarships
$
1.000
346054
Seniors
S 6,260
$
10.500
346051
Dar camp
S 43,521
$
42.400
346059
Picnic in the Park
S 15.589
S
15.000
TOTAL
CHARGES FOR SERVICES
S 902,045
S
934.481
MUNICIPAL COURT FEES:
-
351000
Court fines U99
S .,(_3601646`�
S
350.000
351030
Court fees/ehgs
S , 39'221/
$
40.000
TOTAL
FINES & FORFEITURES
S 399,861
$
390.000
362((0
Rents/leases (golf course) A89
S 17.388
$
16.136
365000
Donations U99
$ 1,716
$
400
365015
Kidsport contribution U99
S 38,524
S
38.520
364030
Sale of miscellaneous U99
$ 12,142
$
28,000
TOTAL MISCELLANEOUS
S 69,770
$
83.056
3 71000
Investment earnings U20
S 121,540
S
141.719
TOTAL REVENUES
-S n 5 3if9_
S
a, 3'
CITY OF KALISPELL
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND
BALANCE
(Continued)
GENERAL FUND
JUNE 30, 2002
Personal
Supplies, service.,
Purchase
of
Total Actual
Budget
Services
materials, other
equip,
land
expenditures
after
EXPENDITURES:
(100)
(200-800)
(900)
(All Objects)
transfers
GENERAL GOVERNMENT
410100
Mayor/Council
E29 S
86.739
E29 $
20.689
G29
F29 S
113.428
$
114,407
410200
City NIanager
E29 S
144,942
E29 $
9.767
G29
F29 $
154,709
$
159.661
410300
Judicial service,
E25 S
102.023
E25 $
66.615
G25
F25 S'
168.638
$
171.584
410500
Finance department
E23 S
135.872
E23 $
78.268
G23
F23 $
214,140
$
218.810
410600
Elections
E89
E89 S
L786
G89
F89 S
1.786
$
1.970
410800
Personnel/recruitment
E29
E29 $
84.389
G29
F29 S
84.389
$
88.993
410900
Records administration
E29
E29 $
6.524
G29
F29 S
6,524
$
5.800
411000
Planning
E29
E29 $
50,175
G29
F29 S
50,175
$
92.675
411100
Legal service,
E25 S
164.522
E25 $
13,779
G25
F25 S
178.301
$
199.777
411200
Facilities administration
EM S
15,209
E31 $
87,224
G31
F31 $
112,433
$
128.144
411300
Central communications
E89
E89 $
38.601
G89
F89 S
38.601
410000
TOTAL GENERAL GOVERNMENT
S
659,307
S
463,817
$
0
S
1.1239124
$
1.181,827
Public Safety:
�
420100
Law enforcement_
E62 S .
1.577.068
E62 S
117.869
G62_
39,986
162
1, 734,923
$
L 767.565
420400
Fire protection
E24 S
912.457
E24 $
74.318
G24
S
6.500
F24 $
993,275
S
955.294
420540
Zoning -Enforcement-
S
36,734
$-
1,1.84--
S
39.518
$
41.663
420000
TOTAL PUBLIC SAFETY
S
2.526,259
$
194.971
$
46,486
S
2.767,716
S
2.764,522
Public Yorks:
430100
Administration
E89 S
52.980
E89 $
14.489
G89
89 S
67,469
$
81.578
430200
Sign/signal
E44 S
69.709
E44 S
35.783
G44
00
�l0 F44 S
105,492
$
116,564
430300
Street department
EOl S
79.601
E01 $
13.421
GO]
S
26,796
FOl S
IM818
$
134.658
431300
Central garage
NE S
98.984
NE S
209.720
NE
S
5.000
NE S
313,704
$
319,757
430000
TOTAL PITBIAC ll'ORKS
S
301,274
$
2773.413
$
31,796
$
606.483
$
652.557
t
Culture 8 Recreation:
460430
Parks 8 Porestt�'
L61 S
243,756
E61 $
71.069
G61
$
111,702
F61 $
426,527
$
437.561
460440
Recreation
E61 S
126,893
E61 $
95.965
G61
1)F61 S
222,858
$
215,858
460452
Hockada2 Art
E61
E61 $
6.600
G61
F61 S
6.600
$
6,600
460445
Pool
E61 S
90.932
E61 $
38.297
G61
$
58.021
F61 S
187,250
$
191.630
460000
TOTAL CULTURE S RECREATION
S
461,581
$
211.931
$
169,723
S
843,235
$
851,649
490500
Debt Set -vice
S
0
S
36,855
S
0
S
36,855
$
36.855
510100
Special Assessments
S
0
$
2.254
$
0
S
2.254
$
2,799
TOTAL EXPENDITURES
S
3.948.421
S
1.183.241
S
248.005
$
5,379.667
$
5,49MO9
54
CITY OF KALISPELL
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE (continued)
JUNE 30, 2002
TOTAL REVENUES: $ 5,454,208
TOTAL EXPENDITURES: S 5,379,667
Excess Revenues over (under) Expenditures S 74,541
OTHER FINANCING SOURCES (USES):
Transfers in
Transfers (out)
S
(78,332)
Inception of Lease
Sale of Right of Way -Lions Parh
Excess revenues and other sources
over (under) expenditures and other uses
S
(3,791)
FUND BALANCE
July 1, 2001
S
1,230,681
Prior Period Adj
S
1,325
FUND BALANCE
JUNE 30, 2002
S
1,228,215
55
BUDGET AFTER
S 5,383,585
S 5,490,209
S (106,624)
S 0
S (73,914)
S (180,538)
III. Financial Statements - by Fund type
C. Individual Statement - by Fund type
2. Special Revenue Funds
a. Combining Balance Sheet
b. Statement of Revenues, Expenditures
and Changes in Fund Balance
56
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
ALL FUNDS -COMBINING BALANCE SHEET
June 30, 2002
ASSETS:
010100
Cash/Investments (unrestricted)
Cash/Investments (restricted)
Total for combined statement
011300
Taxes receivable - real estate
011500
Taxes receivable - personal property
011600
Taxes receivable - protested taxes
011800
Special Assessments receivable
Total for combined statement
012000
Loans receivable
013000
Due from other governments
013300
Advance to other funds
014100
Prepaid expenditures
TOTAL ASSETS
LIABILITIES AND FUND EQUITY:
020200
Accounts payable
021249
Due Contractor-Retainage
020600
Accrued payable
023300
Advance from Other Fund
Total for combined statement
022300
Deferred revenue - loans receivable
022310
Deferred revenue - real & protest taxes
022320
Deferred revenue - personal property taxes
022330
Deferred revenue - special assessments
Total for combined statement
TOTAL LIABILITIES
2170 2180 2185 2188 2210
AIRPORT TAX INCR. AIRPORT WESTSIDE PARKS IN LIEU
INCREMENT INCREMENT
$ 5,991 $ 2,460,762 S 1,110,585 $ 353,707 $ 377
$ 5,991 2,460,762 1,110,585 353,707 377
43,794 7,547 459
10,726 9,737 515
$ 0 54,520 17,284 974 0
121,385 16,812
S 5,991 $ 2,636,667 $ 1,144,681 $ 354,681 $ 377
$ 101 $ 41,948 $ 10,800
74 587
84,900
$ 175 42,535 10,800 84,900 0
43,794 7,547 459
10,726 9,737 515
$ 0 54,520 17,284 974 0
$ 175 $ 97,055 $ 28,084 $ 85,874 $ 0
025020 Reserve for Advance to other funds
025000 Reserved Fund Balance
027100 Unreserved Fund Balance 5,816 2,539,612 1,116,597 268,807 377
Total Equity $ 5,816 2,539,612 1,116,597 268,807 377
TOTAL LIABILITIES AND FUND EQUITY $ 5,991 $ 2,636,667 $ 1,144,681 $ 354,681 $ 377
57
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
ALL FUNDS -COMBINING BALANCE SHEET
June 30, 2002
ASSETS:
010100
Cash/Investments (unrestricted)
Cash/Investments (restricted)
Total for combined statement
011300
Taxes receivable - real estate
011500
Taxes receivable - personal property
011600
Taxes receivable - protested taxes
011800
Special Assessments receivable
Total for combined statement
012000
Loans receivable
013000
Due from other governments
013300
Advance to other funds
014100
Prepaid expenditures
TOTAL ASSETS
LIABILITIES AND FUND EQUITY:
020200
Accounts payable
021249
Due Contractor-Retainage
020600
Accrued payable
023300
Advance from Other Fund
Total for combined statement
2360
COMP. INS.
$ 166,905 $
166,905
21,532
9,583
4
31,119
2370
RETIREMENT
134,396 $
134,396
24,748
16,177
7
40,932
2380
HEALTH
202,161
202,161
31,821
17,721
8
49,550
2394 2400
BUILDING LIGHT
ENFORCEMENT MAINTENANCE
347,673 $ 9,411
347,673 9,411
0 5,896
10,029 28,671 26,991 15,261
42,894
$ 250,947 $ 203,999 $ 278,702 $ 347,673 $ 30,568
$ 25,239 $ 10,514
3,339
0 0 0 28,578 10,514
022300
Deferred revenue - loans receivable
022310
Deferred revenue - real & protest taxes
21,536
24,755
31,829
022320
Deferred revenue - personal property taxes
9,583
16,177
17,721
022330
Deferred revenue - special assessments
5,896
Total for combined statement
31,119
40,932
49,550
0
5,896
TOTAL LIABILITIES $
31,119 $
40,932 $
49,550 $
28,578 $
16,410
025020
Reserve for Advance to other funds
025000
Reserved Fund Balance
027100
Unreserved Fund Balance
219,828
163,067
229,152
319,095
14,158
Total Equity
219,828
163,067
229,152
319,095
14,158
TOTAL LIABILITIES AND FUND EQUITY $
250,947 $
203,999 $
278,702 $
347,673 $
30,568
Im
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
ALL FUNDS -COMBINING BALANCE SHEET
June 30, 2002
ASSETS:
010100 Cash/Investments (unrestricted)
Cash/Investments (restricted)
Total for combined statement
011300 Taxes receivable - real estate
011500 Taxes receivable - personal property
011600 Taxes receivable - protested taxes
011800 Special Assessments receivable
Total for combined statement
012000
Loans receivable
013000
Due from other governments
013300
Advance to other funds
014100
Prepaid expenditures
TOTAL ASSETS
2401 2420 2500 2600 2825
DECORATIVE GAS TAX SPECIAL URBAN FORESTRY MACI GRANT
LIGHT MAINT. STREET MAINT. DISTRICT
$ 3,292 $ 233,320 $ 174,465 $ 53,801 $ 76,516
3,292 233,320 174,465 53,801 76,516
649
448 41,156 3,553
448 0 41,805 3,553
1,093 23,918 61,844 6,675
$ 4,833 $ 257,238 $ 278,114 $ 64,029 $ 76,516
LIABILITIES AND FUND EQUITY:
020200
Accounts payable $
179 $
5,981 $
1,041 $
7,678
021249
Due Contractor-Retainage
020600
Accrued payable
3,824
851
023300
Advance from Other Fund
Total for combined statement
179
5,981
4,865
8,529
022300
Deferred revenue - loans receivable
022310
Deferred revenue - real & protest taxes
022320
Deferred revenue - personal property taxes
022330
Deferred revenue - special assessments
447
41,805
3,553
Total for combined statement
447
0
41,805
3,553
TOTAL LIABILITIES $
626 $
5,981 $
46,670 $
12,082
025020
Reserve for Advance to other funds
025000
Reserved Fund Balance
027100
Unreserved Fund Balance
4,207
251,257
231,444
51,947 76,516
Total Equity
4,207
251,257
231,444
51,947 76,516
TOTAL LIABILITIES AND FUND EQUITY $
4,833 $
257,238 $
278,114 $
64,029 $ 76,516
59
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
ALL FUNDS -COMBINING BALANCE SHEET
June 30, 2002
ASSETS:
010100 Cash/Investments (unrestricted)
Cash/Investments (restricted)
Total for combined statement
011300
Taxes receivable - real estate
011500
Taxes receivable - personal property
011600
Taxes receivable -protested taxes
011800
Special Assessments receivable
2880 2882 2886 2914 2915
COMM. DEV. COURTYARD UDAG POLICE RESOURCE POLICE RESOURCE
LOAN REVOLVING MAINTENANCE OFFICER OFFICER (2)
$ 179,634 $ 15,984 $ 808,100 $ 9,635 $ (10,649)
220,156 29,207
399,790 45,191 808,100 9,635
Total for combined statement
0
0
0
0
012000
Loans receivable
1,398,474
1,115,794
013000
Due from other governments
918
11,671
013300
Advance to other funds
84,900
014100
Prepaid expenditures
TOTAL ASSETS $
1,798,264
$ 45,191
S
2,008,794 $
10,553 $
1,022
LIABILITIES AND FUND EQUITY:
020200
Accounts payable
$ 0
$
13,930
021249
Due Contractor-Retainage
020600
Accrued payable
1,963
945
1,022
023300
Advance from Other Fund
Total for combined statement
0
0
15,893
945
022300
Deferred revenue - loans receivable
1,398,474
1,115,794
022310
Deferred revenue - real & protest taxes
022320
Deferred revenue - personal property taxes
022330
Deferred revenue - special assessments
Total for combined statement
1,398,474
0
1,115,794
0
TOTAL LIABILITIES $
1,398,474
$ 0
$
1,131,687 $
945 $
1,022
025020
Reserve for Advance to other funds
84,900
025000
Reserved Fund Balance
220,156
29,207
027100
Unreserved Fund Balance
179,634
15,984
792,207
9,608
0
Total Equity
399,790
45,191
877,107
9,608
0
TOTAL LIABILITIES AND FUND EQUITY $
1,798,264
$ 45,191
S
2,008,794 $
10,553 $
1,022
:1
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
ALL FUNDS -COMBINING BALANCE SHEET
SPECIAL
2916
2940
2975
REVENUE FUNDS
June 30, 2002
DRUG ENFORCE.
2ND
AVE W GRANT
ISTEA
TOTAL OF ALL
GRANT
FUNDS
ASSETS:
010100
Cash/Investments (unrestricted)
$ (4,873)
$
1,772
$
25,505
$
6,358,470
Cash/Investments (restricted)
249,362
Total for combined statement
(4,873)
1,772
25,505
$
6,607,833
011300
Taxes receivable - real estate
129,901
011500
Taxes receivable - personal property
64,459
011600
Taxes receivable - protested taxes
668
011800
Special Assessments receivable
51,053
Total for combined statement
0
0
0
$
246,081
012000
Loans receivable
2,514,268
013000
Due from other governments
4,873
16,111
346,252
013300
Advance to other funds
84,900
014100
Prepaid expenditures
42,894
TOTAL ASSETS
$
9,842,228
$ -
$
1,772
$
41,616
LIABILITIES AND FUND EQUITY:
020200
Accounts payable
$
29
$
39,783
$
157,223
021249
Due Contra ctor-Retainage
14,458
14,458
020600
Accrued payable
12,605
023300
Advance from Other Fund
84,900
Total for combined statement
0
29
54,241
$
269,186
022300
Deferred revenue - loans receivable
2,514,268
022310
Deferred revenue - real & protest taxes
129,920
022320
Deferred revenue - personal property taxes
64,459
022330
Deferred revenue - special assessments
51,701
Total for combined statement
0
0
0
$
2,760,348
TOTAL LIABILITIES
$
$ 0
$
29
$
54,241
3,029,534
025020
Reserve for Advance to other funds
84,900
025000
Reserved Fund Balance
249,363
027100
Unreserved Fund Balance
0
1,743
(12,625)
6,478,431
Total Equity
0
1,743
(12,625)
$
6,812,694
TOTAL LIABILITIES AND FUND EQUITY
$
$ -
$
1,772
$
41,616
9,842,228
61
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000
Total taxes
363000
Total assessments
320000
Total licenses/permits
330000
Total intergovernmental
340000
Total charges for services
351000
Total fines & forfeitures
360000
Total miscellaneous
370000
Total investments
TOTAL REVENUES
EXPENDITURES:
410000 Total general government
420000 Total public safety
430000 Total public works
460000 Total culture & recreation
470000 Total community development
490000 Total debt service
510000 Total miscellaneous
900 Capital Outlay
TOTAL EXPENDITURES
Excess revenue over (under) expenditures
380000 Other financing sources (uses):
382014 Sale of land
381070 Proceeds of loan
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2170
AIRPORT Budget after
Actual Transfers
2180 2185
TAX INCREMENT Budget after AIRPORT TIF Budget after
Actual Transfers Actual Transfers
$ 801,509j$ 691,000 $ 124,213v/$ 123,775
895,258" 899,189 88,4951/ 141,901
12,568 9,102 58,936 70,000
/ 117,871 109,608 15,797 1,000
$ 12,56811$ 9,102 $ 1,814,638 $ 1,699,797 $ 287,441 $ 336,676
9,995 9,995 11,786
11,786
133,759
317,199
65,265
72,500
875,866
1,175,785
263,625
263,625
767
12,500
512,392
2,733,622
22,075
50,000
$ 9,995 $ 9,995 $ 1,728,934 $
4,257,318 $
156,601 $
379,699
$ 2,573 $ (893) $ 85,704 $
(2,557,521) $
130,840 $
(43,023)
900,000
$ 2,573 $ (893) $ 85,704 $ (2,557,521) $ 1,030,840 $ (43,023)
3,243 2,453,908 85,757
$ 5,816 $ 2,539,612
62
$ 1,116,597
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEA4ENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000 Total taxes
363000 Total assessments
320000 Total licenses/permits
330000 Total intergovernmental
340000 Total charges for services
351000 Total fines & forfeitures
360000 Total miscellaneous
370000 Total investments
TOTAL REVENUES
EXPENDITURES:
410000 Total general government
420000 Total public safety
430000--Total public works
460000 Total culture & recreation
470000 Total community development
490000 Total debt service
510000 Total miscellaneous
900 Capital Outlay
TOTAL EXPENDITURES
Excess revenue over (under) expenditures
380000 Other financing sources (uses):
382014 Sale of land
381070 Proceeds of loan
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2188
R'ESTSME TIF Budget after
Actual Transfers
S 3,354'/S
0
2210
PARKS LN LIEU Budget after
Actual Transfers
2360
CONTP. LNS. Budget after
Actual Transfers
S 178,341, $ 170,590
1910 `,/
28:519'/ 29,080
3,750 30,223
718 5,000
10,414 5,060
$ 13,768 $ 5,060 $ 4,468 $ 35.223 $ 208,770 $ 199,670
350,000
650 5.000
13,048 34,048
4,500 2,000
283,522 310,080
3,441 30.223
S 17,548 $ 386,048 $ 4,091 S 35,223 $ 283,522 S 310,080
$ (3,780) $ (380.988) $ 377 $ $ (74,752) S (110,410)
S (3,780) S (380,988) $ 377 $
277,987 0
S (5,400)
S 268,807 $ 377
63
S (74,752) $ (110,410)
294,580
S 219,828
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000 Total taxes
363000 Total assessments
320000 Total licenses/permits
330000 Total intergovermnental
340000 Total charges for services
351000 Total fines & forfeitures
360000 Total miscellaneous
370000 Total investlnents
TOTAL REVENUES
EXPENDITURES:
410000 Total general government
420000 Total public safety
430000 Total public works
460000 Total culture & recreation
470000 Total conununity development
490000 Total debt service
510000 Total miscellaneous
900 Capital Outlay
TOTAL EXPENDITURES
Excess revenue over (under) expenditures
380000 Other fmancing sources (uses):
382014 Sale of land
381070 Proceeds of loan
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2370
2380
2394
RETIREMENT
Budget after
HEALIT] Budget after
BUILDING COD]
Budget after
Actual
Transfers
Actual
Transfers
Actual
Transfers
r/
5 307,316V $
297,557
$
335,708� $
322,274
2,103 1
f
2,702✓
249,266
1701000
51,1461
52,212
54,683
55,804
78,378
68,000
$ 360,565 $
349,769
$
393,093 $
378,078
$ 327.644
$ 238,000
42,131
39,650
69,926
72,577
290.102
297,350
278,860
296,948
294.141
331,477
20A98
20,700
45,113
50,363
19.000
20,000
48,230
51,617
1,000
500
950
$ 372,231 $
378,650
$
442,129 $
472,505
$ 294.141
$ 331,477
$ (1L666) $
(28,881)
$
(49,036) $
(94,427)
$ 33,503
$ (93,477)
$ (11,666) $ (28,881) $ (49,036) $ (94,427) $ 33,503 $ (93,477)
174,733 278088 285,592
$ 1631067 $ 229,152 $ 319,095
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000
Total taxes
363000
Total assessments
320000
Total licenses/permits
330000
Total intergovernmental
340000
Total charges for ser--ices
351000
Total fines & forfeitures
360000
Total miscellaneous
370000
Total investments
TOTAL REVENUES
EXPENDITURES:
410000
Total general government
420000
Total public safety
430000
Total public works
460000
Total culture & recreation
470000
Total community development
490000
Total debt serNice
510000
Total miscellaneous
900
Capital Outlay
TOTAL EXPENDITURES
Excess
revenue over (under) expenditures
380000
Other financing sources (uses):
382014
Sale of land
381070
Proceeds of loan
383000
Operating transfers in
521000
Operating transfers (out)
Excess
revenues and other sources over
(under)
expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2400
LIGHT NIALNT. Budget after
Actual Transfers
131,389 130,974
2401
DECR. LIGHT Budget after
Actual Transfers
6,181 6,265
S 131,389V S 130,974 $ 6,1W S
133.522 136,797 6,010 6.884
S 1133.522 S 136,797
2420
GAS TAX Budget after
Actual Transfers
287,015 287,015
$ 287,015 S 287,015
325,043 555,5714
S 6,010 $ 6,884 $ — 325,043 $ 555,574
$ (2.133) S (5,823) $ 171 $ (619) $ (38,028) S (268,559)
$ (2,133) S (5,823) $ 171 S (619) $ (38,028) S (268,559)
16,291 4,036 289,285
14.158 $ 4,207 $ 251,257
65
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000 Total taxes
363000 Total assessments
320000 Total licenses/permits
330000 Total intergovernmental
340000 Total charges for services
351000 Total fines & forfeitures
360000 Total miscellaneous
370000 Total investments
TOTAL REVENUES
EXPENDITURES:
410000 Total general government
420000 Total public safety
430000 Total public works
460000 Total culture & recreation
470000 Total community development
490000 Total debt service
510000 Total miscellaneous
900 Capital Outlay
TOTAL EXPENDITURES
Excess revenue over (under) expenditures
380000 Other financing sources (uses):
382014 Sale of land
381070 Proceeds of loan
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2500
STREET MAINT. Budget after
Actual Transfers
521,502 506559
2600
URB FORESTR Budget after
Actual Transfers
52,352 / 53,500
150 V/
2825
MAC] Budget after
GRANT Transfers
28,886 526,131
d
$ 521,502 $ 5061559 # $ 52,5 02,A 53,500 S 28,886 $ 526,131
402,989 443,222
79,250 102,861
33,996 33,996
3,134 31500 33,370 526,131
$ 440,119 S 48(),718 # S 79,250 S 102,861 S 33,370 $ 526,131
$ 81,383 S 25,841 # S (26,748) $ (49,361) $ (4,484.00) $ 0
49,881 50,000 81,000
$ 81,383 $ 25,841 # $ 23,133 $ 639 S 76,516 $ 0
150,061 28,814 0
$ 231,444 # S 51,947 S 76,516
66
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
,June 30, 2002
REVENUES:
310000 Total taxes
363000 Total assessments
320000 Total licenses/permits
330000 Total intergovernmental
340000 Total charges for services
351000 Total fines & forfeitures
360000 Total miscellaneous
370000 Total investments
TOTAL REVENUES
EXPENDITURES:
410000 Total general government
420000 Total public safety
430000 Total public worLs
460000 Total culture & recreation
470000 Total community development
490000 Total debt service
510000 Total miscellaneous
900 Capital Outlay
TOTAL EXPENDITURES
Excess revenue over (under) expenditures
380000 Other financing sources (uses):
382014 Sale of land
381070 Proceeds ofloan
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2880 2882
COMM. DEV. Budget after COURTYARD Budget after
Loan Revolving Transfers Actual Transfers
$
61,222 V 56,669
1611416 151,690 760 _
$ 161.415 S 151,690 S 61,982 $ 56,669 $
2886
UDAG Budget after
Actual Transfers
30,058 V' 0
2,581 " Z
1661536 182,455
199,175 $ 182,455
16,512 244,052 41,803 43,000 285,931 381,197
24,174 25,150
$ 16.512 S 244,052 $ 65,977 $ 68,150 $ 285.931 S
$ 144903 S (92,362) $ (3,995) $ (11,481) $ (86,756) S (198,742)
139,900
S 2841803 $ (92,362) $ (3,995) S (11,481) $ (86,756) S (198,742)
114,987 49.186 958,463
$ 5,400
S 3991790 $ 45.191 $ 877001
67
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000 Total taxes
363000 Total assessments
320000 Total licenses/permits
330000 Total intergovernmental
340000 Total charges for services
351000 Total fines & forfeitures
360000 Total miscellaneous
370000 Total investments
TOTAL REVENUES
EXPENDITURES:
410000 Total general government
420000 Total public safety
430000 Total public works
460000 Total culture & recreation
470000 Total community development
490000 Total debt service
510000 Total miscellaneous
900 Capital Outlay
TOTAL EXPENDITURES
Excess revenue over (under) expenditures
380000 Other financing sources (uses):
382014 Sale of land
381070 Proceeds of loan
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2914
Police Resource Budget after
Actual Transfers
52,307 41,925
2915
Police Resource (2) Budget after
Actual Transfers
i
$ 52,30 $ 41.925 S
47,928 47,928
28,455 46,185
2916
Drug Enf. Budget after
Actual Transfers
35,265 361183
I
$ 46,185 $ 35,265' $ 36,183
28,455 41,928 53,954 53.954
$ 47,928 $ 41,928 $ 28,455 $ 47,928 $ 53,954 $ 53.954
$ 4,379 $ - $ (1,743) $ (18,689) $ (17,771)
5,229 5,229 18,103 16,750
$ 9,608 $ $ (1,743) $ (586) $ (IM21)
0 0 586
$ 9,608 $ $
68
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000
Total taxes
363000
Total assessments
320000
Totallieenses/permits
330000
Total intergovernmental
340000
Total charges for services
351000
Total fines & forfeitures
360000
Total miscellaneous
370000
Total investments
TOTAL REVENUES
EXPENDITURES:
410000
Total general governmen.
420000
Total public safe»
430000
-Total public isorks
460000
Total culture & recreation
470000
Total community development
490000
Total debt service
510000
Total miscellaneous
900
Capital Outlay
TOTAL EXPENDITURES
Excess
revenue over (under) expenditures
380000
Other financing sources (uses):
382014
Sale of land
381070
Proceeds of loan
383000
Operating transfers in
521000
Operating transfers (out)
Excess
revenues and other sources over
(under)
expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2917
Universal Polict Budget after
Actual Transfers
22,500 22,500
2927
11ff. CULTURAL Budget after
ARTS GRANT Transfers
11,968 17,500
2940
2nd Ave W Budget after
Grant Transfers
288,163 928,000
S 22,500 $ 22,500 $ 11,968 S 17,500 $ 288,163 S 92&000
24,522 24,522
11,968 17,500
286,420 928.000
S 24,.522 S 24,521 $
S (2,022) S (2,022) $
11,968 S
0 $
17,500 $ 286,420 S 928,000
0 $ 1,743 S
$ (L022) S (2,022) S 0 S 0 $ 1,743 S
2,022 0 0
$ $ 0 $ 1,743
m
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURES,
AND
CHANGES IN FUND BALANCE
June 30, 2002
REVENUES:
310000
Total taxes
363000
Total assessments
320000
Total licenses/permits
330000
Total intergovernmental
340000
Total charges for services
351000
Total tines & forfeitures
360000
Total miscellaneous
370000
Total investments
TOTAL REVENUES
EXPENDITURES:
410000
Total general government
420000
Total public safety
430000
Total public works
460000
Total culture & recreation
470000
Total community development
490000
Total debt service
510000
Total miscellaneous
900
Capital Outlay
TOTAL EXPENDITURES
Excess
revenue over (tinder) expenditures
380000
Other financing sources (uses):
382014
Sale of land
381070
Proceeds of loan
383000
Operating transfers in
521000
Operating transfers (out)
Excess
revenues and other sources over
(under)
expenditures and other uses
Fund Balance July 1, 2001
Equity Transfers
Prior Period Adj
Fund Balance June 30, 2002
2945
CDBG/ED GRAN7 Budget after
STREAM PROJ. Transfers
20,000 20,000
/ _
$ 20,000S 20.000 S
20,000 njm)
$ 20,000 $
0
$ 0
70
2950
HOUSING Budget after
Actual Transfers
0 $
16,733
20.000 S 16,733 $
S (16,733) $
8,808
2975
1STEA Budget after
Actual Transfers
296,989 356,664
$ 296,989 S 356,664
21,111 356,796 402,968
21,111 S 356,796 $ 402,968
(21,111) S (59,807) $ (46,304)
5,000 5,00(t
S (7,925) $ (21.111) $ (54,807) $ (41,304)
7,925 49,010
$ (6,828)
$ - S (12,625)
CITY OF KALISPELL
SPECIAL REVENUE FUNDS
STATEMENT OF REVENUES, EXPENDITURE'S,
AND
CHANGES IX FUND BALANCE
TOTAL
Budget After
June 30, 2002
Actual
Transfers
REVENUES:
310000
Total taxes
$
///
1,750,441 "$
1,605,196
363000
Total assessments
$
711,424 -/$
697,298
320000
Total licenses/permits
$
255,981 $
170,000
330000
Total intergovernmental
$
2,219,857 $
3,460,289
340000
Total charges for services
$
153,632 $
177,325
351000
Total fines & forfeitures
$
- $
_
360000
Total miscellaneous
$
64,521 $
61,669
370000
Total investments
$
472,793 ✓$
449,813
TOTAL REVENUES
$
5,628,649 $
6,621,590
EXPENDITURES:
410000
Total general government
112,057
112,227
420000
Total public safety
1,017,962
1,100,107
430000
Total public works
1,088,715
1,902,520
460000
Total culture & recreation
224,363
269,478
470000
Total community development
1,539,580
2,826,082
490000
Total debt serNice
327,062
338,271
510000
Total miscellaneous
284,022
311,030
900
Capital Outlay
947,941
3,767,55E
TOTAL EXPENDITURES
5,541,702
10,627,270
Excess_
revenue over (under) expenditures
$
86,947 $
(4,005,680)
380000
Other financing sources (uses):
382014
Sale of land
1,048,708
0
381070
Proceeds ofloan
0
0
383000
Operating transfers in
159,213 ✓
76,979
521000
Operating transfers (out)
0
0
Excess
revenues and other sources over
0
0
(under) expenditures and other uses
$
1,294,868 $
(3,928,701)
Fund Balance July 1, 2001
5,524,654
Equity Transfers
0
Prior Period Adj
(6,828)
Fund Balance June 30, 2002
$
6,812,694
71
III. Financial Statements - by Fund type
C. Individual Statement - by Fund type
3. Debt Service Funds
a. Combining Balance Sheet
b. Statement of Revenues, Expenditures
and Changes in Fund Balance
72
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET - ALL FUNDS
3188
3500 3592
3593
3594
3595
June 30, 2002
NVESTSIDE TIF
SID REVOLVING 1992 S & C
1993 S & C
1994 S & C
1995 S & C
SERIES 2000
ASSETS:
O1O100
Cash/Invest-unrestricted
S 191,698
$ 86.249 S 0
$ 0
S 536
O10130
Cash Reserve for Bond contingency
011300
Taxes receivable - real
13,737
1
011500
Taxes receivable - personal
11,645
O11700
Payment in Lieu receivable
011800
Assessments receivable
66
71
515
011900
Assessments receivable- deferred
3,356
5,279
Total for combined statement
25,382
1 -
66
3,427
5,794
013000
Due from Sidewalk & Curb funds
15,731
013230
Due from County
51,183
183
539
188
Total for combined statement
51,183
]5,737 -
183
539
l88
TOTAL ASSETS
S 268,263
$ 101.981 S -
S 249
S 3,966
S 6,518
LIABILITIES:
021134
Due to SID Revolving Fund
272
194
1,222
Total for combined statement
0
0 272
194
1,222
0
022310
Deferred revenue -real taxes
13,737
1
022320
Deferred revenue -personal
11,645
022330
Deferred revenue -assessment
66
3,427
5,794
022300
Deferred revenue
Total for combined statement
25,382 1 0
66
3,427
5,7794
TOTAL LIABILITIES S
25,382 $ 1 S 272 S
260 $
4,649 S
5,794
FUND EQUITY
027100 Fund Balance -reserved
242,881 101,980 (272)
(11)
(683)
724
TOTAL LIABILITY & FUND BALANCE S
268,263 $ 101,981 S - S
249 S
3,966 $
6,518
73
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET - ALL FUNDS
June 30. 2002
ASSETS:
O10100
Cash/Invest-unrestricted
010130
Cash Reserve for Bond contingency
011300
Taxes receivable - real
011500
Taxes receivable - personal
011700
Payment in Lieu receivable
011800
Assessments receivable
3596 3597 3598 3599 3600 3601
1996 S& C 1997 S& C 1998 S& C 1999 S& C 2000 S& C 2001 S&C
S 0 S 0 S 0 S 0 S 0
011900 Assessments receivable- deferred
4,555
3,488
1,054
3,096
2,026
1,209
Total for combined statement
4,555
3,488
1,054
3,096
2,026
1,209
013000 Due from Sidewalk & Curb funds
013230 Due from Counh^
Ill
160
Total for combined statement
117
160
0
0
0
0
TOTAL ASSETS
S 4,672 S
3,648 S
1.054 S
3,096 S
2,026 S
1,209
LIABILITIES:
021134
Due to SID Revohvtg Fund
87
341
Total for combined statement
87
341
0
0
0
0
022310
Deferred revenue-realtaxes
022320
Deferred revenue -personal
022330
Deferred revenue -assessment
4,555
3,488
1,054
3,096
2,026
1,209
022300
Deferred revenue
Total for combined statement
4,555
3,488
1,054
3,096
2,026
1,209
TOTAL LIABILITIES S
4.642 S
3,829 S
1.054 S
3,096 S
2,026 S
1,209
FUND EQUITY
027100
Fund Balance -reserved
30
(181)
0
0
0
0
TOTAL LIABILITY & FUND BALANCE S
4,672 S
3,648 S
1.054 S
3,096 S
2,026 S
1,209
74
DEBT SERVICE FUNDS
COMBINING
BALANCE SHEET - ALL FUNDS
3637
3641
3642
3643
June 30, 2002
SID 3377
SID 341
SID 342
SID 343
ASSETS:
010100
Cash/Invest-unrestricted
$
0
S (5)
S 2,081
S
(70,354)
010130
Cash Reserve for Bond contingency
5,000
10,450
79,075
011300
Taxes receivable - real
011500
Taxes receivable - personal
O11700
Payment in Lieu receivable
01I800
Assessments receivable
708
1,447
011900
Assessments receivable- deferred
49,438
891356
1,424,419
Total for combined statement
708
50,885
89.356
1,424,419
013000
Due from Sidewalk & Curb funds
013230
Due from Count%
768
1,300
80,748
Total for combined statement
768
1,300
-
80,748
TOTAL ASSETS
$
1,476
S 57,180
S 101,887
S
1,513,888
LIABILITIES:
021134
Due to SID Revolving Fund
13,615
Total for combined statement
13,615
0
0
0 _
022310
Deferred revenue -real taxes
022320
Deferred revenue -personal
022330
Deferred revenue -assessment
708
50,885
8%356
1,424,419
022300
Deferred revenue
Total for combined statement
708
50,885
89,356
1,424,419
TOTAL LIABILITIES
S
14,323
S 50,885
$ 89.356
S
1,424,419
FUND EQUITY
027100
Fund Balance -reserved
(12,847)
6,295
12.531
89,469
TOTAL LIABILITY & FUND BALANCE
S
11476
S 57,180
$ 101,887
S
1,513,888
75
TOTAL OF ALL
DEBT SERVICE FUNDS
S 210,205
94,525
13,738
11,645
2,807
1,587,276
1,615,466
15,731
135,186
150,91 7
S 2,071,113
15,731
15,731
13,738
11,645
1,590,083
0
1,615,466
S 1,631,197
439,916
S 2,071,113
CITY OF KALISPELL
DEBT SERVICE FUNDS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
June 30, 2002
REVENUE:
310000 Total taxes
363000 Taxes/Assessments
320000 Total licenses/Permits
330000 Total intergovernmental
370000 Total investment
340000 Total charges for services
TOTAL REVENUE
EXPENDITURES:
490300 S.I.D. bond principal
S.I.D. bond interest
S.I.D. bond agent fees
490000 TOTAL debt service
Excess revenues over (under) expenditures
380000 Other financing sources (uses):
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance .July 1, 2001
Residual equity transfers
Fund Balance .June 30, 2002
3188
WESTSIDE TIF
SERIES 2000
BUDGET AFTER
ACTUAL TRANSFERS
3500
SID REVOLVING FUND
BUDGET AFTER
ACTUAL TRANSFERS
T01 S
261,185 S
164.138 S
1
U01 $
3,642 S
.8,500 S
133 S
170
T24
C89
166,368
160,368
U20
57,508
59,689
2,650
13,162
43,182
531,885
398,695
2,784
13.332
NE
198,749
198,749
189
140,601
140,602
0
0
339,350
3^351
2,784
13.332
192,535
59,344
3592
1992 SIDEWALK & CURB
BUDGET AFTER
ACTUAL TRANSFERS
$ 692
692 0
0 0
692 0
192,535 59.344 2,784 13,332 692 0
50,346 99,196 (964)
0 0 0
S 242,881 $ 101,980 $ (272)
76
CITY OF KALISPELL
DEBT SERVICE FUNDS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
June 30, 2002
REVENUE:
310000 Total taxes
363000 Taxes/Assessments
320000 Total licenses/Permits
330000 Total intergovernmental
370000 Total investment
340000 Total charges for services
TOTAL REVENUE
EXPENDITURES:
490300 S.I.D. bond principal
S.I.D. bond interest
S.I.D. bond agent fees
490000 TOTAL debt service
Excess revenues over (under) expenditures
380000 Other financing sources (uses):
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Residual equity transfers
Fund Balance June 30, 2002
3593
3594
3595
1993 SIDEWALK
& CURB
1994 SIDEWALK & CURB
1995 SIDEWALK & CURB
BUDGET AFTER
BUDGET AFTER
BUDGET AFTER
ACTUAL
TRANSFERS
ACTUAL
TRANSFERS
ACTUAL
TRANSFERS
5 548 S
658 S
3,579
S 3,877
S 3,323
S 2,699
3,579
3,877
548
658
3,323
2,699
730
730
3,500
3,500
2,852
2,852
22
122
446
546
570
670
3,946
4,046
752
852
3,422
3,522
(204)
(194)
(367)
(169)
(99)
(823)
(367)
(169)
(204)
(194)
(99)
(823)
193
(316)
823
0
0
0
S (11)
S
(683)
S 724
77
CITY OF KALISPELL
DEBT SERVICE FUNDS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
June 30, 2002
3596
1996 SIDEWALK & CURB
BUDGET AFTER
ACTUAL TRANSFERS
3597
1997 SIDEWALK & CURB
BLn)GET AFTER
ACTUAL TRANSFERS
REVENUE:
310000
Total taxes
363000
Taxes/Assessments S
2,048 S
1.856 S
1,474 S
1,257
320000
Total licenses/Permits
330000
Total intergovernmental
370000
Total investment
340000
Total charges for services
TOTAL REVENUE
2,048
1.856
1,474
1,257
EXPENDITURES:
490300
S.I.D. bond principal
1,519
1,518
1,072
1,072
S.I.D. bond interest
486
586
364
464
S.I.D. bond agent fees
490000
TOTAL debt service
1,436
1,536
2,005
2,104
Excess revenues over (under) expenditures
38
(279)
43
(248)
380000
Other financing sources (uses):
383000
Operating transfers in
521000
Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
43
(248)
38
(279)
Fund Balance July 1, 2001
(13)
(219)
Residual equity transfers
0
0
Fund Balance June 30, 2002 S
30
S
(181)
78
3598
1998 SIDEWALK & CURB
BUDGET AFTER
ACTUAL TRANSFERS
$ 309 S 836
309 836
211 211
98 200
309
411
0
425
0
425
0
0
S 0
CITY OF KALISPELL
DEBT SERVICE FUNDS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
June 30, 2002
REVENUE:
310000 Total taxes
363000 Taxes/Assessments
320000 Total licenses/1'ermits
330000 Total intergovernmental
370000 Total investment
340000 Total charges for services
TOTAL REVENUE
EXPENDITURES:
490300 S.I.D. bond principal
S.I.D. bond interest
S.I.D. bond agent fees
490000 TOTAL debt service
Excess revenues over (under) expenditures
380000 Other financing sources (uses):
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Residual equity transfers
Fund Balance June 30, 2002
3599
3600
3637
1999 SIDEWALK & CURB
2000 SIDEWALK & CURB
SID 337
BUDGET AFTER
BUDGET AFTER
BUDGET AFTER
ACTUAL TRANSFERS
ACTUAL TRANSFERS
ACTUAL TRANSFERS
S 353 S 453
S 619 S
453
$ 6,828 S
9,383
353 453
619
453
6,828
9,383
221 221
289
289
10,000
10,000
132 232
330
430
750
850
353 453
619
719
10,750
10,850
0 0
0
(266)
(3,922)
(1,467)
0 0
0
(266)
(3,922)
(1,467)
0
0
(8,925)
0
0
0
S 0
S 0
S (12,847)
79
CITY OF KALISPELL
DEBT SERVICE FUNDS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
June 30, 2002
3641
SID 341
BUDGET AFTER
ACTUAL TRANSFERS
3642
SID 342
BUDGET AFTER
ACTUAL TRANSFERS
3643
SID 343
BUDGET AFTER
ACTUAL TRANSFERS
REVENUE:
310000
Total taxes
363000
Taxes/Assessments S
8,841 S
7,922 S
29.685 S
17,604 S
166,570 S
77,351
320000
Total licenses/Permits
330000
Total intergovernmental
370000
Total investment
340000
Total charges for services
TOTAL REVENUE
8,841
7,922
29,685
17,604
166,570
77,351
EXPENDITURES:
490300
S.I.D. bond principal
5,000
10,000
30.000
30,000
76,500
76,500
S.I.D. bond interest
3,275
3,550
6,967
7,418
81,988
82,000
S.I.D. bond agent fees
100
too
100
250
490000
TOTAL debt service
8,275
13,550
37,067
37,518
158,488
158,750
Excess revenues over(under)expenditures
566
(5,628)
(7,382)
(19,914)
8.082
(81,399)
380000
Other financing sources (uses):
383000
Operating transfers in
521000
Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
566
(5,628)
(7,382)
(19,914)
8,082
(81,399
Fund Balance July 1, 2001
5,729
19,913
81,387
Residual equity transfers
0
0
0
Fund Balance June 30, 2002 S
6,295
S
12.531
S
89,469
EEO
CITY OF KALISPELL
DEBT SERVICE FUNDS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
June 30, 2002
REVENUE:
310000
Total taxes
363000
Taxes/Assessments
320000
Total licenses/Permit,
330000
Total intergovernmental
370000
Total investment
340000
Total charges for sen-ices
TOTAL REVENUE
EXPENDITURES:
490300
S.I.D. bond principal
S.I.D. bond interest
S.I.D. bond agent fees
490000 TOTAL debt sen•ice
Excess revenues over (under) expenditures
380000 Other financing sources (uses):
383000 Operating transfers in
521000 Operating transfers (out)
Excess revenues and other sources over
(under) expenditures and other uses
Fund Balance July 1, 2001
Residual equitY transfers
Fund Balance June 30, 2002
81
TOTAL
DEBT SERVICE FUNDS
BUDGET AFTER
ACTUAL TRANSFERS
S 261,186
S 164,138
S 228,644
S 133,019
S 166,368
S 166,368
$ 60,158
S 72,851
$ 43.182
S -
S 759.538
$ 536,376
S 330,643
S 236.029
S 100
S
S 335,642
S 237,670
S 450
S
S 566,772
S 573,762
192.766
(37,286)
S
S 0
192,766
(37,286)
S 247,150
S -
$ 439,916
III. Financial Statements - by Fund type
C. Individual Statement - by Fund type
4. Capital Project Funds
a. Combining Balance Sheet
b. Statement of Revenues, Expenditures
and Changes in Fund Balance
82
CITY OF KALISPELL
CAPITAL PROJECT FUNDS
ALL FUNDS - COMBINING BALANCE SHEET
June 30, 2002
4102 4343 4290
POOL CONST SID 343 CONST 1999 Walk & Curb
Construction
ASSETS:
10100
Cash/Investments
S
3,517,688
S
125,560
S
4,205
13165
Due from E.D.A.
TOTAL ASSETS
S
S
$
3,517,688
125,560
4,205
LIABILITIES:
20200
Accounts payable
S
195
S
4,858
21101
Due to General Fund'
21186
Due to UDAG Fund
21249
Retainage
S
9,977
TOTAL LIABILITIES
S
195
S
9,977
S
4,858
FUND EQUITY
27100
Fund balance
3,517,493
115,583
(653)
TOTAL LIABILITIES
AND FUND BALANCE
S
3,517,688
S
125,560
S
4,205
HM
TOTAL
CAPITAL
PROJECT FUNDS
S 3,647,453
0
S 3,647,453
S 5,053
S -
0
S 9,977
S 15,030
3,632,423
S 3,647,453
,TUNE 30, 2002
REVENUES:
343017
S&C Construction Charge
370000
Total Investment,
TOTAL REVENUES
EXPENDITURES:
430200
Capital ]tnprovements-Public Works
460400
Capital lmprovements-Recreation
TOTAL EXPENDITURES
Revenues over (under) expenditures
Other financing sources (uses):
381004
Bond Proceeds
Transfers In (Out)
Revenue and other financing
sources over (under) expenditures
and other financing uses
Fund Balance July 1, 2001
Transfer of Equity
Fund Balance June 30, 2002
CITY OF KALIS13ELL
CAPITAL PROJECT FUNDS -ALL FUNDS
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
TOTAL
4102
BUDGET
4343
BUDGET
4290
BUDGET
BUDGET
POOL CONS]
AFTER
STD 343 CONST
AFTER
2000 Walk & Curb
AFTER
ACTUAL
AFTER
TRANSFERS
TRANSFERS
Construction
TRANSFERS
TRANSFERS
7.953
7.953
0
1 &060
18.060
18.060
0
0
7.953
0
26,013
0
967,995
1,368,573
8.536
85,000
9/6.534
1,453,571
175,567
3,675,000
175,$67
3,675,000
175.567
3,675.000
967.998
1,368,571
S,536
85,000
1.152.301
5,128,571
(351.507)
(3,675,000)
(967998)
(1,368,571)
(583)
(85,000)
(1,126,088)
(5,128,571)
3,675.000
3.675,471
1.209
85,000
3,676,209
3,760,471
37.000
37.000
0
3.517.493
471
(930.998)
626
0
2587,121
(1,368,100)
0
1,340,114
(1.279)
1,338,835
S (293.533)
(293,533)
S 3517.493
S 115.583
S (653)
$ 3.632,423
III. Financial Statements - by Fund type
C. Individual Statement - by Fund type
5. Enterprise Funds
a. Combining Balance Sheet
b. Statement of Revenues, Expenditures
and Changes in Retained Earnings
C. Statement of Cash Flows
E:M
June 30, 2002
ASSETS
Current Assets:
10100
Cash - unrestricted
10120
Cash -replacement
10180
Cash-Sinldng & interest
10130
Cash -Bond Reserve
10131
Cash -Invest R & D
10132
Cash-SRF Loan Reserve
10135
Cash -Operating Reserve
10125
Cash-Replacement/Evergreen
10100
Cash -Capital Improvement
10100
Cash -Storm Maintenance
Total Cash
CITY OF KALISPELL
ENTERPRISE FUNDS - ALL FUNDS
COMBINING BALANCE SHEET
5210
5310 5410
5510
WATER
SEWER AMBULANCE
GARBAGE
TOTAL
6r(Eq1 j10)
$ 325,855 $
806,954 $ 8,338 $
)
112,106 $
1,253,253
632,711
1,584,992, t
126,760
2,344,463
24,095
24,095
106,000
650,550
16,000
772,550
22,590
22,590
55,998
55,998
128,000
128,000
2,132,312
2,132,312
1,176,538
1,176,538
879,710
879,710
1,120,564
7,381,646 8,338
278,961
8,789,509
Receivables:
11800 Assessments Receivable 22,271it�� 39,302 61,573
12200 Accounts Receivable 95,985 214,797 171,928 482,710
13230 Due from County/Other Gov't 42,898& a/9-7-;) 56,575 99,473
15200 Operating Inventory 85,765 85,765
Total Current Assets 1,302,314 7,661,612 180,266 374,838 9,519,030
Property, Plant & Equipment:
18100
Land
221,513
221,513
18200
Buildings & Structures
316,731
316,731
18600
Machinery & equipment
436,363 14) 405,438 1,200,776
2,042,577
18800
Construction in Progress
136,239
323,118E b
459,357
18910
Source of Supply
767,838
767,838
18920
Pumping plant
1,442,054
1,442,054
18930
Treatment Plant
14,664,123
14,664,123
18940
Transmission & Distribution
10,438,457
9,232,680
19,671,137
18950
General Plant/buildings
749,162
605,533
1,354,695
18960
Storm Sewer System
4,317,629 5{6
4,317,629
Total Property, Plant & Equipment 13,533,750 29,800,960 405,438 1,517,507 45,257,655
less Accumulated Depreciation (4,181,043) (13,097,921) (230,644) (882,831) (18,392,440)
Net Property & Equipment 9,352,706 16,703,038 174,794 634,676 26,865,215
TOTAL ASSETS $ 10,655,020 $ 24,364,650 S 355,060 $ 1,009,514 $ 36,384,245
,. •
ENTERPRISE FUNDS - ALL FUNDS
June 30, 2002
5210
5310
5410
5510
LIABILITIES AND FUND EQUITY
WATER
SEWER AMBULANCE
GARBAGE
TOTAL
Current Liabilities:
l�%
20200
Accounts Payable S
20,361 $
73,57
3,347 S
1,972 $
99,256
20600
Accrued Payable S
8,292 S
12,U81
2,131 S
5,589 S
28,093
21101
Due (.General Fund
$
55,000
S
55,000
Subtotal current liabilities
�
,
,
Noncurrent Liabilities:
23100
Bonds Payable
1,470,000
2,280,000
132,721
3,882,721
23100
SRF Loan Payable
2,425,000 6e)
2,425,000
23625
23900
Board of investment Loans
Comp. Absences Payable
25,705
47,933
51,410 ,
56193 L,(. O
52,130
35,269
77,115
192,265
Subtotal long-term
-
liabilities
1,543,638
4,813,343
52,130
167299U
6,517,101
TOTAL L1AB1LITES
, ,
,
,75T
FUND EQUITY:
26300
Contributed Capital
1,879,950
1,879,950
From Government
189,282
4,422,872
4,612,154
From SID's
224,167
252,065
476,232
From Developers
2,758,435
2,522,866
5,281,301
From'fax Increment
669,046
668,135
1,337,181
Subtotal Contributed Capital
9,74�,888
so
so
RETAINED EARNINGS:
25000
Reserve for Inventory
85,765
85,765
Reserve for Meter Replacement
60,665
60,665
Reserve sinking & int.
/
650,550 V
24,U95
16,000
24,095
7721550,6
Reserve Revenue Bond
Reserve for SRF Loan
106,000
55,998
55,998
Reserve Capital Improv./Construction
1,199,128 /
1,199,128
128,000
Reserve for Operations
128,000 V
Reserve for wwtp replacement/Evergreen
21132,312-/,
2,132,312
Reserve Replace & Depr.
572,047
11584,992
126,761
2,283,800
Reserve Storm Maint.
2,014,081
2,014,081
27200
Unreserved Retained Earnings
Designated for Replacement
-
Undesignated Retained Earnings
4,361,324
2,010,699
$242,452
$667,1U7
7,281,582
TOTAL RETAINED EARNINGS
5,241,799
9,719,761
$242,452
$833,963
16,037,975
TOTAL LIABILITIES AND FUND EQUITY $
10,655,020 $
24,364,650 $
355,060 $
1,009,514 $
36,384,244
ow
ENTERPRISE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENSES, AND CHANGES
IN RETAINED EARNINGS - ALL ENTERPRISE FUNDS
OPERATING REVENUE:
340000
Charge for Water/Sewer
340000
Charge for services
360000
Miscellaneous
360000
Special Assessments
TOTAL OPERATING REVENUE
OPERATING EXPENSES:
100 Personal Services
200 Supplies
300 Purchased Services
400 Building Materials
500 Fixed chgs./Admin transfers
800 Loss/bad debt -disposal
830 Depreciation_
TOTAL OPERATING EXPENSES
Operating Income Ooss)
NON -OPERATING REV.(EXP).
343000 Hookups
371010 Interest Revenue
381050 Inception of Lease
490000 Debt Service Interest
Total Non -Operating Revenue(expense)
NET INCOME (LOSS)
Add depreciation on property and equipment
acquired with capital contributions
Increase (decrease) in Retained Earnings
Retained earnings - 7/1/01
Prior Period Adjustments
Retained earnings - 6/30/02
June 30, 2002
WATER SEWER AMBULANCE GARBAGE TOTAL
S 1.135,874 S 2,496,314 S 3.632.188
81,547 749,839 503,081 1,334,467
15.478 3,194 100 18,772
269,362 cj'XT KPI 3,339 272,701
1.232.899 2,768,870 749.939 506,420 5,258,128
481,588
640,938(7,,WD)r�
)
456.815
315,034
1,894,375
33,276
49,577 (�
13,330
14,564
110,747
196,570
711,867((-10:2)
63.824
14,204
986,466
62,228
9,610 (a 314)
71,838
106.685
193,159(1 `f ��` �
53.833
85,741
439,417
14,506
2,713
2591967.
277,180
313.594__
1,174,155 1
44,584
91,217
1,623.551
1.208.446
2,782,019
892.354
520,760
5 403,579
24.453 (13,150) (142,415) (14,340) (145.452)
144,914 346,543 _ 491,457
22,418 182,477 1.564 4,962 211,481
(73.743) (326,867) 1317 (6,183) (406,793)
93.649 202,153 1.564 (1,221) 296,145
118.102 189,004 (140.851) (15,561) 150,694
84,726 584,493 669.219
202.828 773,496 (140,851) (15,561) 819,912
5,080,358 8,948,688 384,877 849,524 15,263,447
(411387) (2,423) (1.574) (45,384)
S 5.241.799 S 9,719,761 $242.452 S833,963 16.1037,975
88
CITY OF KALISPELL
JUNE 30, 2002
COMBINED STATEMENT OF CASH FLOWS
WATER
SEWER
AMBULANCE
GARBAGE
TOTAL
FUND
FUNDS
FUND
FUND
FUNDS
Cash flows from Operating Acitivies:
Cash Received From Customers
S1,131,245
S2,467,777
S513,131
S4,]12,]53
Cash Received From Assessments
S264,175
S496,656
S760,831
Cash Payments to Suppliers for Goods & Services
(S395,103)
(S],014,474)
($133,921)
(S] 08,994)
(51,652,492)
Cash Payments to Employees for Services
(S473,721)
(S626,569)
(S447,629)
(S311,925)
(S1,859.844)
Cash From Other Operating Revenues
S97,025
S3,194
S100
S100,319
Net Cash Provided by Operating Activities
$359,446
S1,094,103
(S68,319)
S75,737
S1,460.967
Cash Flows From Capital and Related Financing
Activities:
Acquisition and Construction of Capital Assets
Board of Investment loans
Principal Paid on Debt Service
Interest Paid on Debt Service
Cash Received From Hookups
Loan from General Fund
Net Cash Used for Capital and Related
Financing Activities
Cash Flows From Investing Activities:
Interest on Investments
Advance to other funds net of repayments
Purchase of Sidewalk and Curb Warrants
Redemption of Sidewalk and Curb Warrants
Net Cash Used in Investing Activities
Net Increase in Cash and Cash Equivalents
Cash and Cash Equivalents at July 1, 2001
(S574,958)
(S206,912)
(S85,806) S5,900 (S861,776)
S207,221
S2,355,000
S2,562,221
(S190,027)
(S2,700,746)
(S26,544) (S2,917,317)
($73,743)
(S336,792)
(S6,183) (S416,718)
S144,914
S348,819
S493,733
S55,000 S55,000
(S486,593) (S540,631) (S30,806) (S26,827) ($1,084,857)
$22,478
$182,477
S1,564
S4,962
S211,481
SO
($1,208)
(S1,208)
S 10,394
S 10,394
$22,478
S191,663
S1,564
S4,962
S220,667
(S104,669)
S745,135
(S97,561)
S53,872
S596,77 7
S1,225,233
S6,613,921
S105,899
S225,090
S8,170,143
Cash and Cash Equivalents at June 30, 2002 S1,120,564 S7,359,056 S8,338 S278,962 $8,766,920
Note: Water Fund non cash developers' contributions were $ 362.006.
Sewer/storm developers' conrtibutions were $447,853.
Me
CITY OF KALISPELL
COMBINED STATEMENT OF CASH FLOWS-con't.
JUNE 30, 2002
Reconciliation oi' Operating Income to Net Cash
Provided by Operating Activities:
Operating Income
Adjustments to Reconcile Operating Income to
Net Cash Provided by Operating Activities:
Depreciation
Bad Debt Expense/Loss on Disposal
Change in Assets and Liabilities:
-Decrease(IncFeasc)'in Accounts Receivable
Decrease (Increase) in Assessments Receivable
Decrease (Increase) in Inventory
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Compensated Absences
Net Cash Provided by Operating Activities
Disclosure of Accounting Polio
For purposes of the statement of cash flows, the Enterprise Funds
consider all highly liquid investments (including restricted assets)
iAth a maturity of three months or less when purchased to be
cash equivalents.
WATER SEWER AMBULANCE GARBAGE TOTAL
FUND FUNDS FUND FUND FUNDS
S24,453 (S13,150) ($142,415) (S14,340) ($145,452)
S313,594
S1,174,155
S44,585
S91,217
$1,623,551
S12,945
S2,713
S259,967
$275,625
(S4�629)
(S28,537)
(S236,708)
(S269,874)
(S5,187)
(S9,764)
($14,951)
S10,602
$10.602
(S5,386)
(S50,260)
(S2,934)
S5,515
(S53,065)
S7,867
S14,369
S9,186
S3,109
S34,531
S359,446
S1,094,103
(S68.319)
S75,737
S1,460,96 7
W1
III. Financial Statements - by Fund type
C. Individual Statement - by Fund type
6. Internal Service Funds
a. Combining Balance Sheet
b. Statement of ]Revenues, Expenditures
and Changes in Retained Earnings
C. Statement of Cash Flows
5
CITY OF KALISPELL
INTERNAL SERVICE FUNDS
COMBINING BALANCE SHEET
June 30, 2002
ASSETS
Current Assets:
10100 Cash - unrestricted
10120 Cash - Replacement
13220 Due from Insurance Co.
Total Cash
18600 Machinery & equipment
18700 less Accumulated Depreciation
Net Property & Equipment
TOTAL ASSETS
LIABILITIES AND FUND EOUITY
Current Liabilities:
20200 Accounts Payable
20820 Est. liabilit-N, for claims
21101 Due to General Fund
Subtotal current liabilities
TOTAL LIABILITES
FUND EQUITY:
27200 Unreserved Retained Earnings
Designated for Replacement
Undesignated Retained Earnings
TOTAL RETAINED EARNINGS
TOTAL FUND EQUITY
6030 6050
DATA EMPLOYEE
PROCESSING HEALTH FUND TOTAL
S 78,035 S 14,850 S 92,885
S 49,591 S 49,591
S 27,315 S 27,315
S 127,626 S 42,165 S 169,791
S 302,328 S 0 S 302,328
S (220,987) S 0 S (220,987)
S 81,341 S 0 S 81,341
S 208,967 S 42,165 S 251,132
S 7,232 S 7,232
S 40,688 S 40,688
S 6,557 S 6,557
S 7,232 S 47,245 S 54,477
S 7,232 S 47,245 S 54
S 49,591 S 49,591
$ 152,144 (5,080) S 147,064
$ 201,735 (5,080) S 196,655
S 201,735 (5,080) S 196,655
TOTAL LIABILITIES AND FUND EQUITY S 208,967 S 42,165 S 251,132
92
CITY OF KALISPELL
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENSES, AND CHANGES
IN RETAINED EARNINGS - ALL INTERNAL SERVICE FUNDS
June 30, 2002
OPERATING REVENUES
383000 Internal services
360000 Misc.
TOTAL OPERATING REVENUES
OPERATING EXPENSES
100 Personal Services
200 Supplies
300 Purchased Services
500 Fixed chgs./Admin trans£
830 Depreciation
TOTAL OPERATING EXPENSES
Operating Income
NON -OPERATING REV.(EXP).
371010 Interest Revenue
Total non -operating revenue(exp)
NET INCOME
Add depreciation on equipment acquired with
capital contributions
Increase in Retained Earnings
27200 Retained earnings- July 1, 2001
DATA EMPLOYEE
PROCESSING HEALTH TOTAL
FUND FUND FUNDS
S 110,070 S 893,873 S 1,003,943
S 245 $ 245
S 110,315 S 893,873 S 1,004,188
S
0
$
0
S
11,107
$
11,107
$
25,321 S
1,286,575 S
11311,896
$
25,33 7
S
25,337
S
46,137
S
46,137
S
107,902 S
1,286,575 $
1,394,477
$
2,413 S
(392,702) S
(390,289)
S 3,287 S 9,343 S 12,630
$ 3,287 S 9,343 S 12.630
S 5,700 S (383,359) S (377,659)
S 0 $ 0
S 5,7()0 S (383,359) S (377,659)
S 196,035 S 378,279 S 574,314
Retained earnings- June 30, 2002 S 201,735 (5,080) S 196,655
93
CITY OF KALISPELL
INTERNAL SERVICE FUNDS - STATEMENT OF CASH FLOWS
June 30, 2002
Cash flows from Operating Activities:
Cash received from Internal Services
Cash payments to suppliers
Net cash provided by operating activities
Cash flows from Capital and related financing activites:
Due to General Fund
Acquisition of capital assets
Net cash used for capital and related financing activates
Cash flows from investing activities:
Interest on Investments
Net cash used in investing activities
Net Increase in cash & cash equivalents
Cash & cash equivalents at July 1, 2001
Cash & cash equivalents at June 30, 2002
Reconciliation of operating income to net cash
provided by operating activities:
Operating Income
Adjustments to reconcile operating income
to net cash provided by operating activities:
Depreciation
Change in assets & liabilities:
Increase in Accounts payable
Decrease in Prepaid Maintenance
Decrease in Estmated Liabilitv
Net cash provided by operating activities
DATA EMPLOYEE TOTAL
PROCESSING HEALTH FUND
$110,315 S893,873 S1,004,188
(S56,306) ($1,370,106) ($1,426,412)
$54,009 (S470,233) (S422,224)
$6,557 S6,55 7
($30,348) (S30,348)
(S30,348) S6,557 ($23,791)
$3,287 $9,343 $12,630
$3,287 $9,343 $12,630
—526,94E —(S460;333) ($433385)
$100,478 $502,498 S603,176
S127,626 S42,165 $169,791
$2,413 (S392,702) (S390.289)
S46,137 S46.137
$5,459 S5,459
S0
(S83,531) (S83.531)
$51.596 (S83,531) (S31.935)
$54.009 ($476,233) (S422,224)
Disclosure of accounting policy: For purposes of the Statement of Cash Flows. the Internal Sem ice Funds consider all highly liquid
investments (including restricted assets) with a maturity ofthree months or less +-hen purchased to be cash equivalents.
94
III. Financial Statements - by Fund type
C. Individual Statement - by Fund type
7. Trust and Agency Funds
a. Combining Balance Sheet
95
ASSETS:
10000 Cash/Investments
TOTAL ASSETS
LIABILITIES:
20000 Short-term payable
TOTAL LIABILITIES
CITY OF KALISPELL
TRUST AND AGENCY FUNDS
June 30. 2002
7910
7940
Pavroll
Performance
Clearing
Bonds
S169,427 S62,425
S169,427 S62,425
S169,427 S62,425
S169,427 S62,425
we
TOTAL
S231.852
$231.852
S231.852
$231,852
111. Financial Statements - by Fund type
C. Individual Statement - by Fund type
8. Group Accounts
a. Statement of Changes in General Fixed Assets
-by Source
b. Statement of Changes in Long-term Debt
97
CITY OF KALISPELL
GENERAL FIXED ASSETS
STATEMENT OF CHANGES ON GENERAL FINES ASSETS - by source
18100
18200
18400
18600
18800
LAND
BUILDINGS
I1NIPROV.OTHER
MACHINERY
CONSTRUCTION
TOTAL
THAN
BUILDINGS
&
EQUIPMENT
IN PROGRESS
BALANCE
July- 1, 2001
S 1,980,606
S
9,381,179
S
3,537,464
S
3,586,133
S 53,381
S
18,538,763
Additions from:
General Fund
S
21,437
S
36,655
S
142,036
S 58,021
S
258,149
Special Revenue Fund!
S- -17,290
S
251,095
S
41,928
S
3,134
S 224.155
S
537,602
Donations
S 1
S
3,441
S 967.998
S
971,440
Grants
S
373,530
S 208,937
S
582,466
TOTAL ADDITIONS
S 17,291
S
272.533
S
455.553
S
145,170
S 1.459.110
S
2.349.657
Deduct:
S (74,544)
S
(16,027)
S
(22,387)
S
(416,462)
S (10,145)
S
(539,564)
Disposition of fixed assets S _
TOTAL DEDUCTIONS S (74,544) S (16.027) S (22,387) S (416,462) S (10,145) S (539 .564)
BALANCE
June 30, 2002 S 1,923,353 $ 9,637,685 S 3,970,630 S 3,314,841 S 1.502,346 S 20,348,855
M
CITY OF KALISPELL
LONG TERM DEBT GROUP OF ACCOUNTS
STATEMENT OF CHANGES IN LONG-TERM DEBT
ASSETS:
17310
Amount available for G.O. Debt
17320
Amount available for SID debt
17330
Amount available for Stream debt
17410
Amount to be provided G.O. debt
17420
Amount to be provided SID debt
17430
Amount to be provided STREAM
17480
Amount to be provided TIT BOND
17400
Amount to be provided/other debt
TOTAL ASSETS
DEBT PAYABLE:
23100
G.O. Bond parable
23280
Urban Renewal Bonds
23100
SID Bonds parable
23620
Board of Housing Loan
23625
Board of Investments -Equip Loans
23630
Board of Investments -Stream Loan
23900
Compensated Absenses payable
TOTAL DEBT PAYABLE
June 30, 2002
Balance Additions Balance
Jule 1, 2001 (Deductions) June 30, 2002
SO
SO
5196,804
SO
5196,804
550,347
SO
550,347
SO
53,675,000
53,675,000
51,601,471
(S130,685)
51,470,786
52,262,695
(S198.749)
52,063,946
5240,000
(5240,000)
SO
51,380,083
(5168,843)
$1,211,240
55,731,400 52.936.723 58,668,123
SO
5240,000
51,798,275
5246,132
5276,772
52,313,042
5857,179
53,675,000
(5240,000)
(5130,685)
(54,862)
(558,523)
(S198.749)
(Sl 05,458)
$3,675,000
SO
$1,667,590
$241,270
$218,249
$2,114,293
$751,721
55,731,400 52,936,723 58,668,123
0-
IV. Supplemental Schedules
A. 10 year history of taxable valuation
B. General Statistical Information
C. Tax Levy Requirements Schedule
we
CITY OF KALISPELL
10 YEAR BISTORY
OF TAXABLE VALUATION
2001/2002 $21,351,734
2000/2001 $21,153,794
1999/2000 $21,338,655
1998/1999 $21,171,715
1997/1998 $21,473.297
1996/1997 $20,799,501
1995/1996 $20,224.154
1994/1995 $19,391,590
1993/1994 $19,093,874
1992/1993 $16,664,525
101
CITY OF KALISPELL
GENERAL STATISTICAL INFORMATION
Class of City First
County Located In Flathead County
Year Organized 1892
Registered Voters
Population -of City
Form of Government
8,114 active
2,115 inactive
14,223
Manaser/Council
No. of Employees (Elected) 10
No of Employees (Non -Elected) 150
Miles of Streets & Alleys 106
Municipal Water/Sewer
Number of Consumers
=1
Water Rate per 1,000 Gallons $1.39 (increased to $1.52 on 8/1/02)
Sewer Rate per 1,000 Gallons $3.28 (increased to $3.39 on 8/1/02)
Customer service costs $2.65 each per billing period
102
City of Kalispell
Budgets
F/Y 2002
Tax Levy Requirements
Schedule
Taxable Valuation
$21,354,734
One Mill Yields
$21,355
FTE
148.5
FY2002
Reserves
Total
Available
Non -tax
Tax
Total
Fund
Appropriation
6/30/2002
Requirements
Cash 7/1/01
Revenues
Revenues
Requirements
Mills
1000 General
$5.373.706
$1,108,554
$6.482.260
$1,165,861
$3.356,208
$1,960.191
$6.482.260
91.78
2360 Comprehensive Ins.
$285,032
$166,905
$451,937
$212,434
$61,162
$178,341
$451,937
8.04
2370 Retirement
$372,231
$134,396
$506,627
$149:773
$49,538
$307,316
$506,627
14.21
2380 Health Insurance
$442,129
$202,161
$644,290
$242,235
$667347
$335,708
$644,290
15.39
TOTAL
$6,473.098
$503.462
$8.085,114
$1,770,303
$3.533.255
$2.781.556
$8.085.114
129.42
103