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4. Government-Wide Financial StatementsGOVERNMENT - WIDE FINANCIAL STATEMENTS ASSETS Current assets: Cash and investments Taxes and assessments receivable, net Internal balances Accounts receivable - net Notes and loans receivable Contracts receivable Due from other governments Prepaids Inventories Other debits Total current assets Noncurrent assets Restricted cash and investments Deferred assessments recievable Long term portion of loans receivable Capital assets - land Capital assets - construction in progress Capital assets - depreciable, net Other debits Total noncurrent assets Total assets LIABILITIES Current liabilities Accounts payable Retainage Accrued payroll Current portion of long-term liabilities Current portion of long-term capital liabilities Current portion of compensated absences payable Other credits Total current liabilities Noncurrent liabilities Noncurrent portion of long-term liabilities Noncurrent portion of long-term capital liabilities Noncurrent portion of compensated absences Other credits Other post employment benefits Total noncurrent liabilities Total liabilities NET POSITION Net investment in capital assets Restricted for capital projects Restricted for debt service Restricted for special projects Unrestricted Total net position Total liabilities and net position See accompanying Notes to the Financial Statements City of Kalispell, Montana Statement of Net Position June 30, 2013 Component Component Units Units Governmental Business -type Downtown Tourism Activities Activities Total BID BID $ 7,119,148 $ 7,262,234 $ 14,381,382 $ 110,436 $ 171,812 1,780,476 60,172 1,840,648 3,465 (33,009) 33,009 - 197,362 437,332 634,694 134,200 - 134,200 102,187 65,338 167,525 2,085,193 157,694 2,242,887 13,725 194,754 36,846 231,600 - 119,770 119,770 5,262 - 5,262 $ 11,585,573 $ 8,172,395 $ 19,757,968 $ 127,626 $ 171,812 $ 1,146,455 $ 6,735,034 $ 7,881,489 $ $ 3,314,571 - 3,314,571 2,160,418 - 2,160,418 2,395,299 1,701,888 4,097,187 38,331 772,554 810,885 80,889,040 70,962,915 151,851,955 18259 20,453 - 20,453 $ 89,964,567 $ 80,172,391 $ 170,136,958 $ - $ 18,259 $ 101,550,140 $ 88,344,786 $ 189,894,926 $ 127,626 $ 190,071 345,784 344,880 690,664 7,450 25275 9,665 17,815 27,480 269,042 49221 318,263 25,621 - 25,621 1,240,843 1,226,000 2,466,843 971,988 155,890 1,127,878 - 3,974 3,974 $ 2,862,943 $ 1,797,780 $ 4,660,723 $ 7,450 $ 25275 620,979 - 620,979 9,209,039 14,712,483 23,921,522 323,161 107,342 430,503 655 - 655 1,062,876 202,453 1,265,329 $ 11216,710 $ 15,022278 $ 26238,988 $ - $ - $ 14,079,653 $ 16,820,058 $ 30,899,711 $ 7,450 $ 25275 $ 72,872,788 $ 56,139,329 $ 129,012,117 $ $ - 5,014,714 5,014,714 618,682 1,720,320 2,339,002 7,127,312 - 7,127,312 6,851,705 8,650,365 15,502,070 120,176 164,796 $ 87,470,487 $ 71,524,728 $ 158,995,215 $ 120,176 $ 164,796 $ 101,550,140 $ 88,344,786 $ 189,894,926 $ 127,626 $ 190,071 FT; Funclions/ProLrams Primary government: Governmental activities: General government Public safety Public works Parks and recreation Community development Debt service - interest Total governmental activities Business -type activities: Airport Water Sewer Solid Waste Total business -type activities City of Kalispell, Montana Statement of Activities For the Fiscal Year Ended June 30, 2013 Net (Expenses) Revenues and Changes in Net Assets Program Revenues Primary Government Indirect Operating Capital Business - Expense Charges for Grants and Grants and Governmental type Expenses Allocation Services Contributions Contributions Activities Activities Total $ 6,709,523 $ $ 669,964 $ 123,589 $ - $ (5,915,970) $ $ (5,915,970) $ 9,228,053 65,085 1,928,011 1,513,070 773,068 (5,078,989) (5,078,989) 2,916,265 158,365 2,201,616 - 578,447 (294,567) (294,567) 1.978,396 13,189 711,969 5,750 27,134 (1,246.732) (1,246,732) 3.598,219 18,118 170,429 1,046,337 - (2,399,571) (2,399,571) 390,770 - - (390,770) (390,770) $ 24,821,227 $ 254,757 $ 5,681,989 $ 2,689,746 $ 1,378,649 $ (15,326,600) $ $ (15,326,600) $ $ 218,591 $ 2.500,219 4,949,326 720,100 $ 8,388,236 Total primary government $ 33,209,463 ((Npp component units: Downtown BID Tourism BID Total component units 7,383 $ 75,813 $ $ - $ (150,161) (150,161) 160,658 1740,512 329,515 409,150 409,150 306,328 4.977,296 8,354 682,512 412,498 412,498 63,867 900,643 - 116,676 116,676 538,236 $ 9,694,254 $ 8,354 $ 1,012,027 $ $ 788,163 $ 788,163 $ 792,993 $ 14,376,243 $ 2,697,100 $ 2,390,676 $ (15,326,600) $ 788,163 $ (14,538,437) $ $ 109,663 2,645 $ 88,004 $ $ 358,238 5,000 440,294 $ 467,901 $ 7,645 $ 528,298 $ - $ General Revenues: Property taxes for general purposes Video poker apportionment Miscellaneous Interest/investment earnings State entitlement Gas Tax Transfers - net Total general revenues, special items and transfers Change in net position Net position - beginning Restatements Net position - beginning - restated See accompanying Notes to the Financial Statements Net position - end Downtown Tourism BID BID $ (24,304) $ 77,056 $ (24,304) $ 77,056 $ 8,092,684 $ $ 8,092,684 59,801 59,801 91,261 91,261 10,118 71,573 102,311 173,884 926 134 2,657,356 - 2,657,356 360,650 - 360,650 (358,169) 358,169 - $ 10,975,156 $ 460,480 $ 11,435,636 $ 11,044 $ 134 $ (4,351,444) $ 1,248,643 $ (3,102,801) (13,260) 77,190 $ 90,767,004 $ 70,420,592 $ 161,187,596 $ 133,436 $ 87,606 1,054,927 (144,507) 910,420 $ 91,821,931 $ 70,276,085 $ 162,098,016 $ 133,436 $ 87,606 $ 87,470,487 $ 71,524,728 $ 158,995,215 $ 120,176 $ 164,796 GOVERNMENTAL FUND FINANCIAL STATEMENTS MAJOR GOVERNMENTAL FUNDS General Fund — this is the City's primary operating fund and accounts for the financial operations of the City not accounted for in any other fund. Principal sources of revenue are property taxes, state and local shared revenue, charges for services, and fines and forfeitures. Principal expenditures are for public safety. Airport TIF — this special revenue fund accounts for the construction and other costs incurred in the construction of projects deemed beneficial to the City's Airport Tax Increment Financing district. A transfer from the Airport TIF debt service fund is the main source of revenue for this fund. The main revenue source for the related debt service fund is tax increment (increased taxable value of the TIF district since base year). Community Development Loan Revolving Fund — this fund accounts for the lending and repayment of monies loaned to businesses and individuals for approved community development projects. SID 344 Debt Service Fund — this fund accounts for the resources accumulated and payments made for principal and interest on the bonds sold to finance the development of the Old School Station Industrial and Technology Park. City of Kalispell, Montana Balance Sheet Governmental Funds June 30, 2013 CD Other Total REVOLVING Governmental Governmental General Fund AIRPORT TIF LOAN SID 344 Funds Funds ASSETS Current assets Cash and investments $ 636,285 $ 134,329 $ 375,084 $ - $ 5,918,092 $ 7,063,790 Taxes and assessments receivable, net 575,727 - - 3,482,170 1,037,150 5,095,047 Accounts receivable - net - - - - 197,362 197,362 Notes and loans receivable - - 1,720,493 - 574,125 2,294,618 Contracts receivable 58,207 - - - - 58,207 Due from other funds 1,043,561 - - - - 1,043,561 Due from other governments 465,907 7,415 - 63,501 1,548,370 2,085,193 Prepaids 159,585 - - - 32,925 192,510 Other debits 24,598 - - - 1,117 25,715 Total current assets $ 2,963,870 $ 141,744 $ 2,095,577 $ 3,545,671 $ 9,309,141 $ 18,056,003 Restricted assets: Restricted cash and investments $ - $ - $ - $ 226,000 $ 920,455 $ 1,146,455 Total noncurrent assets $ - $ - $ - $ 226,000 $ 920,455 $ 1,146,455 Total assets $ 2,963,870 $ 141,744 $ 2,095,577 $ 3,771,671 $ 10,229,596 $ 19,202,458 LIABILITIES Current liabilities: Accounts payable 68,629 - - - 271,757 340,386 Retainage - - - - 9,665 9,665 Accrued payroll 169,231 408 - - 97,328 266,967 Due to other funds - - - 244,882 831,688 1,076,570 Deferred revenue - accounts receivable - - - - 189,349 189,349 Deferred revenue - loans recievable - - 1,720,493 - 574,125 2,294,618 Deferred revenue 575,727 - - 3,482,170 1,037,149 5,095,046 Total current liabilities $ 813,587 $ 408 $ 1,720,493 $ 3,727,052 $ 3,011,061 $ 9,272,601 Noncurrent liabilities: Other credits - - - - 655 655 Total noncurrent liabilities $ - $ - $ - $ - $ 655 $ 655 Total liabilities $ 813,587 $ 408 $ 1,720,493 $ 3,727,052 $ 3,011,716 $ 9,273,256 FUND BALANCES Long-term recievables $ 19,798 $ - $ - $ - $ $ 19,798 Prepaids 159,585 - - - 32,925 192,510 Restricted: General Government - - - - 31,911 31,911 Public Safety - - - - 808,283 808,283 Public Works - - - - 1,887,138 1,887,138 Culture and Recreation - - - - 662,471 662,471 Community Development - 141,336 375,084 - 3,221,089 3,737,509 Debt Service - - - 44,619 574,063 618,682 Committed: - - - - Unrestricted Fund Balances: Assigned: Capital Equipment 101,906 - - - - 101,906 Parking 23,542 - - - - 23,542 Band Shell 13,392 - - - - 13,392 Unassigned fund balance 1,832,060 - - - - 1,832,060 Total fund balance $ 2,150,283 $ 141,336 $ 375,084 $ 44,619 $ 7,217,880 $ 9,929,202 Total liabilities and fund balance $ 2,963,870 $ 141,744 $ 2,095,577 $ 3,771,671 $ 10,229,596 $ 19,202,458 See accompanying Notes to the Financial Statements y City of Kalispell, Montana Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Positon June 30, 2013 Total fund balances - governmental funds $ 9,929,202 Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. 83,282,791 An internal service fund is used by management to charge the costs of providing services within the government. The assets and liabilities of the internal service funds are included in governmental activities in the government -wide statement of net assets 121,598 Long-term liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds. (12,379,241) - Other post employment benefits (1,062,876) Taxes, assessments and accounts receivable will be collected this year, but are not available soon enough to pay for the current periods expenditures, and therefore are deferred in the funds. - current portion 1,780,475 - noncurrent portion 3,314,571 - ambulance 189,349 Loans recievable that will be collected at some future date that are recognized as revenues on the statement of activities. - current portion 134,200 - noncurrent portion 2,160,418 Total net position - governmental activities See accompanying Notes to the Financial Statements 87,470,487 31 City of Kalispell, Montana Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds For the Fiscal Year Ended June 30, 2013 CD Other Total REVOLVING Governmental Governmental General Fund AIRPORT TIF LOAN SID 344 Funds Funds REVENUES Taxes and assessments $ 5,119,258 $ - $ - $ 274,474 $ 3,522,017 $ 8,915,749 Licenses and permits 63,474 - - - 267,333 330,807 Intergovernmental 3,695,019 14,831 - - 3,172,494 6,882,344 Charges for services 877,076 - 70210 - 3,391,974 4,339,260 Fines and forfeitures 575,681 - - - 10225 585,906 Miscellaneous 35284 - - - 94,067 129,351 Investment earnings 10,185 9,955 4,753 - 46,679 71,572 Total revenues $ 10,375,977 $ 24,786 $ 74,963 $ 274,474 $ 10,504,789 $ 21254,989 EXPENDITURES General government $ 2,387,239 $ - $ - $ - $ 125,475 $ 2,512,714 Public safety 7,439,720 - - - 1,381,006 8,820,726 Public works 543,531 - - - 2,361,031 2,904,562 Parks and recreation - - - - 1,519,173 1,519,173 Community development - 2,287,777 107,359 - 1,221,201 3,616,337 Debt service -principal 74,672 - - 225,000 960,044 1,259,716 Debt service -interest 8,912 - - 151,733 230,125 390,770 Capital outlay 87,000 - - - 1,614,728 1,701,728 Total expenditures $ 10,541,074 $ 2,287,777 $ 107,359 $ 376,733 $ 9,412,783 $ 22,725,726 Excess (deficiency) ofrevenues over expendih $ (165,097) $ (2,262,991) $ (32,396) $ (102,259) $ 1,092,006 $ (1,470,737) OTHER FINANCING SOURCES (USES) Issuance of debt $ - $ - $ - $ - $ 243,680 $ 243,680 Transfers in 660,239 540,000 - 37,661 274,314 1,512,214 Transfers out (94,114) - - - (1,418,100) (1,512,214) Total other financing sources (uses) $ 566,125 $ 540,000 $ - $ 37,661 $ (900,106) $ 243,680 Net Change in Fund Balance $ 401,028 $ (1,722,991) $ (32,396) $ (64,598) $ 191,900 $ (1,227,057) Fund balances -beginning $ 1,749,255 $ 1,864,327 $ 407,480 $ 109,217 $ 7,040,094 $ 11,170,373 Restatements - - - - (14,114) (14,114) Fund balances- beginning, restated $ 1,749,255 $ 1,864,327 $ 407,480 $ 109,217 $ 7,025,980 $ 11,156259 Fund balance -ending $ 2,150,283 $ 141,336 $ 375,084 $ 44,619 $ 7,217,880 $ 9,929,202 See accompanying Notes to the Financial Statements 32 City of Kalispell, Montana Reconciliation of the Statement of Revenues, Expenditures. and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the Fiscal Year Ended June 30, 2013 Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balances - total governmental funds $ (1,227,057) Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets: - Capital assets purchased 1,701,728 - Depreciation expense (3,779,299) - Capital assets transferred to enterprise funds (358,169) In the Statement of Activities, the loss or gain on the sale or disposal of capital assets is recognized. The fund financial statements recognize only the proceeds from the sale of these assets: - Gain (loss) on the sale/disposal of capital assets (1,145,827) Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds: - Donated capital assets 19,126 - Deferred assessments recievable (beginning of year) (5,475,801) - Deferred assessments recievable (end of year) 5,284,395 - Deferred loans recievable (beginning of year) (2,231,999) - Deferred loans recievable (end of year) 2,294,618 - Increase in deferred loans recievable recognized as revenue in Statement of Activities (62,619) The change in compensated absences is shown as an expense in the Statement of Activities (65,264) Repayment of debt principal is an expenditures in the governmental funds, but the repayment reduces long- term debt in the Statement of Net Assets: - Long-term debt principal payments 1,259,716 Long term debt proceeds provide current financial resources to the governmental funds, but issuing debt increases long-term liabilities in the Statement of Net Assets: - Proceeds from the sale of long-term debt (243,680) The increase in other post employment benefits is shown as an expense in the Statement of Activities (307,647) Internal service funds are used by management to chare the costs of certain activities, to individual funds. The net revenue of the internal service funds is reported with the governmental activities of the Government -Wide Statement of Activities net of the amounts allocated to business -type activities and depreciation expense. (13,665) Change in net position - Statement of Activities $ (4,351,444) See accompanying Notes to the Financial Statements 33 PROPRIETARY FUND FINANCIAL STATEMENTS MAJOR ENTERPRISE FUNDS Water Fund — Accounts for the City's water utility operations, including water impact fees. Sewer Fund — Accounts for the City's sewer and storm water utility operations, including sewer and storm impact fees. INTERNAL SERVICE FUND Data Processing Fund — used to account for the goods and services provided by the data processing department to other departments of the City on a cost -reimbursement basis. City of Kalispell, Montana Statement of Net Position Proprietary Funds June 30, 2013 Governmental Business -Type Activities - Enterprise Funds Activities Non -major Service Water Sewer Enterprise Totals Funds ASSETS Current assets: Cash and investments $ 3,590,017 $ 2,679,222 $ 992,995 $ 7,262,234 $ 55,358 Taxes and assessments receivable, net - 30,886 29,286 60,172 - Accounts receivable - net 137,293 299,589 450 437,332 - Contracts receivable 16,931 48,407 - 65,338 43,980 Due from other funds - 33,009 - 33,009 - Due from other governments - 76,463 81,231 157,694 - Prepaids 12,380 17,363 7,103 36,846 2,244 Inventories 119,770 - - 119,770 - Total current assets $ 3,876,391 $ 3,184,939 $ 1,111,065 $ 8,172,395 $ 101,582 Noncurrent assets: Restricted cash and investments $ 995,859 $ 5,739,175 $ $ 6,735,034 $ Capital assets - land 91,587 250,756 1,359,545 1,701,888 Capital assets - construction in progress 190,243 397,878 184,433 772,554 - Capital assets - depreciable, net 24,710,715 44,710,436 1,541,764 70,962,915 39,879 Total noncurrent assets $ 25,988,404 $ 51,098,245 $ 3,085,742 $ 80,172,391 $ 39,879 Total assets $ 29,864,795 $ 54,283,184 $ 4,196,807 $ 88,344,786 $ 141,461 LIABILITIES Current liabilities: Accounts payable 90,487 203,937 50,456 344,880 5,398 Retainage 8,081 9,734 - 17,815 - Accrued payroll 16,691 23,616 8,914 49,221 2,075 Current portion of long -terns capital liabilities 358,000 868,000 - 1,226,000 - Current portion of compensated absences payable 40,234 83,966 31,690 155,890 10,518 Other credits 3,974 - - 3,974 - Total current liabilities $ 517,467 $ 1,189,253 $ 91,060 $ 1,797,780 $ 17,991 Noncurrent liabilities: Noncurrent portion of long -terns capital liabilities 2,414,000 12,298,483 - 14,712,483 - Noncurrent portion of compensated absences 38,137 31,614 37,591 107,342 1,872 Other post employment benefits 127,545 74,908 - 202,453 - Total noncurrent liabilities $ 2,579,682 $ 12,405,005 $ 37,591 $ 15,022,278 $ 1,872 Total liabilities $ 3,097,149 $ 13,594,258 $ 128,651 $ 16,820,058 $ 19,863 NET POSITION Net investment in capital assets $ 22,220,545 $ 32,192,587 $ 1,726,197 $ 56,139,329 $ 39,879 Restricted for capital projects 584,601 4,430,113 - 5,014,714 - Restricted for debt service 411,258 1,309,062 - 1,720,320 - Unrestricted 3,551,242 2,757,164 2,341,959 8,650,365 81,719 Total net position $ 26,767,646 $ 40,688,926 $ 4,068,156 $ 71,524,728 $ 121,598 Total liabilities and net position $ 29,864,795 $ 54,283,184 $ 4,196,807 $ 88,344,786 $ 141,461 See accompanying Notes to the Financial Statements 34 City of Kalispell, Montana Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds For the Fiscal Year Ended June 30, 2013 Governmental Business -Type Activities - Enterprise Funds Activities Non -major Internal Water Sewer Enterprise Totals Service Funds OPERATING REVENUES Charges for services $ 2,593,314 $ 4,143,222 $ 976,456 $ 7,712,992 $ 420,922 Miscellaneous revenues 147,198 9,951 - 157,149 235 Special assessments - 824,113 - 824,113 - Total operating revenues $ 2,740,512 $ 4,977,286 $ 976,456 $ 8,694,254 $ 421,157 OPERATING EXPENSES Personal services $ 942,930 $ 1,366,214 $ 512,760 $ 2,821,904 $ 182,178 Supplies 89,138 89,503 89,054 267,695 51,157 Purchased services 315,967 649,511 106,665 1,072,143 152,216 Building materials 88,123 35,636 - 123,759 - Fixed charges 210,679 535,843 96,886 843,408 34,640 Loss/bad debt expense 20,504 23,202 - 43,706 - Depreciation 858,041 2,200,937 204,576 3,263,554 16,071 Total operating expenses $ 2,525,382 $ 4,900,846 $ 1,009,941 $ 8,436,169 $ 436,262 Operating income (loss) $ 215,130 $ 76,440 $ (33,485) $ 258,085 $ (15,105) NON -OPERATING REVENUES (EXPENSES) Capital Grants - Developer's Contributions $ 52,609 $ 16,722 $ $ 69,331 $ Capital Grants - Impact Fees 276,906 665,790 942,696 Operating Grant - Intergovernmental revenue - 8,354 8,354 - Interest revenue 34,631 61,167 6,513 102,311 1,440 Gain (loss) on sale of capital assets (43,324) - - (43,324) - Debt service interest expense (92,171) (354,808) - (446,979) - Total non -operating revenues (expenses) $ 228,651 $ 397,225 $ 6,513 $ 632,389 $ 1,440 Income (loss) before contributions and transfer $ 443,781 $ 473,665 $ (26,972) $ 890,474 $ (13,665) Capital contributions - Governmental funds 265,544 - 92,625 358,169 Change in net position $ 709,325 $ 473,665 $ 65,653 $ 1,248,643 $ (13,665) Net Position - Beginning of the year $ 26,148,948 $ 40,268,487 $ 4,003,157 $ 70,420,592 $ 135,263 Restatements (90,627) (53,226) (654) (144,507) - Net Position - Beginning of the year - Restated $ 26,058,321 $ 40,215,261 $ 4,002,503 $ 70,276,085 $ 135,263 Net Position - End of the year $ 26,767,646 $ 40,688,926 $ 4,068,156 $ 71,524,728 $ 121,598 See accompanying Notes to the Financial Statements 35 City of Kalispell, Montana Statement of Cash Flows Proprietary Funds Year Ended June 30, 2013 Governmental Business - Type Activities Activities Non -major Internal Service Water Sewer Enterprise Totals Fund Cash flows from operating activities: Cash received from customers $ 2,576,664 $ 4,099,319 $ 925,883 $ 7,601,866 $ 377,177 Cash received from assessments - 772,481 - 772,481 - Cash received from miscellaneous sources 147,198 9,951 157,149 Cash payments for claims (756,359) (1,306,370) (284,882) (2,347,611) (260,957) Cash payments to employees (907,209) (1,362,037) (517,044) (2,786,290) (176,009) Net cash provided (used) by operating activities $ 1,060,294 $ 2,213,344 $ 123,957 $ 3,397,595 $ (59,789) Cash flows from capital and related financing activities: Principal paid on bonds, loans and advances $ (386,000) $ (1,141,000) $ $ (1,527,000) $ Interest paid on bonds, loans and advances (92,172) (354,808) (446,980) Acquisition and construction of capital assets (667,688) (1,178,319) (34,694) (1,880,701) (8,599) Proceeds from bonds, loans and advances - 132,483 132,483 Impact fees 263,197 627,931 891,128 Net cash provided (used) by capital and related financing activ $ (882,663) $ (1,913,713) $ (34,694) $ (2,831,070) $ (8,599) Cash flows from non -capital financing activities: Advances between funds ($33,009) (33,009) Intergovernmental revenue $ $ 8,354 $ $ 8,354 $ Net cash provided (used) from non -capital financing activities $ $ (24,655) $ $ (24,655) $ - Cash flows from investing activities: Interest on investments $ 34,631 $ 61,167 $ 6,515 $ 102,313 $ 1,440 Net cash provided (used) by investing activities $ 34,631 $ 61,167 $ 6,515 $ 102,313 $ 1,440 Net increase (decrease) in cash and cash equivalents $ 212,262 $ 336,143 $ 95,778 $ 644,183 $ (66,948) Cash and cash equivalents at beginning 4,373,614 8,082,254 897,871 13,353,739 122,306 Restatements - - (654) (654) - Cash and cash equivalents at end $ 4,585,876 $ 8,418,397 $ 992,995 $ 13,997,268 $ 55,358 Reconciliation of operating income (loss) to net cash provided (used) by operating activities: Operating income (loss) $ 215,130 $ 76,440 $ (33,485) $ 258,085 $ (15,105) Adjustments to reconcile operating income to net cash provided (used) by operating activities: Depreciation 858,040 2,200,936 204,572 3,263,548 16,072 Bad Debt 20,504 $23,201 - 43,705 - Other Post Employment Benefits Expense $36,918 36,918 Changes in assets and liabilities: Accounts receivable - net (16,650) (43,903) (210) (60,763) ($43,980) Increase in Hydrant Meter Deposits (35,789) - - (35,789) Taxes and assessments receivable, net 8,680 (117,001) (108,321) - Prepaid expenses (114) ($2,155) ($2,726) (4,995) (972) Increase Comp Abs 4,360 13,668 89 18,117 7,092 Decrease in due from County - ($60,312) 66,640 6,328 - Accounts payable (16,663) 4,123 7,724 (4,816) (21,973) Accrued payroll (5,442) (7,334) (1,646) (14,422) (923) Net cash provided (used) by operating activities $ 1,060,294 $ 2,213,344 $ 123,957 $ 3,397,595 $ (59,789) The City received non cash contributions of land and infrastructure as follows: $318,153 $16,722 $92,625 $427,500 See accompanying notes to the financial statements 0 FIDUCIARY FUND FINANCIAL STATEMENTS AGENCY FUNDS Agency Funds — used to account for assets held by the City as an agent for individuals, private organizations, other governments, and/or other funds. City of Kalispell, Montana Statement of Fiduciary Net Position Fiduciary Funds June 30, 2013 Agency Funds ASSETS Cash and short-term investments $ 5155089 Total assets $ 515,089 LIABILITIES Due to others 515,089 Total liabilities $ 515,089 NET POSITION See accompanying Notes to the Financial Statements 37