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
See accompanying Notes to the Financial Statements
City of Kalispell, Montana
Statement of Net Position
June 30, 2014
Component
Component
Units
Units
Governmental
Business -type
Downtown
Tourism
Activities
Activities
Total
BID
BID
$ 9,622,853
$ 8,197,605
$ 17,820,458
$ 73,276
$ 184,537
2,254,856
55,258
2,310,114
2,405
264,795
320,444
585,239
112,125
-
112,125
84,877
54,072
138,949
1,188,269
189,189
1,377,458
10,404
200,977
36,238
237,215
-
164,939
164,939
14,258
14,258
13,743,010
9,017,745
22,760,755
86,085
184,537
828,138
7,782,347
8,610,485
3,284,431
-
3,284,431
2,204,155
-
2,204,155
2,395,299
1,701,888
4,097,187
10,905
77,811
88,716
78,943,326
72,076,723
151,020,049
12,817
87,666,254
81,638,769
169,305,023
-
12,817
101,409,264
90,656,514
192,065,778
86,085
197,354
418,681
191,760
610,441
5,863
28,707
12,832
5,045
17,877
319,421
57,745
377,166
25,878
-
25,878
1,291,318
1,269,833
2,561,151
947,523
185,815
1,133,338
7,345
7,345
3,015,653
1,717,543
4,733,196
5,863
28,707
595,101
-
595,101
8,323,581
14,570,837
22,894,418
348,935
83,128
432,063
21,851
-
21,851
1,275,394
242,933
1,518,327
10,564,862
14,896,898
25,461,760
-
-
13,580,515
16,614,441
30,194,956
5,863
28,707
71,734,631
58,015,752
129,750,383
-
6,070,163
6,070,163
362,952
1,520,571
1,883,523
8,214,245
-
8,214,245
7,516,921
8,435,587
15,952,508
80,222
168,647
$ 87,828,749
$ 74,042,073
$ 161,870,822
$ 80,222
$ 168,647
27
N
co
City of Kalispell, Montana
Statement of Activities
For the Fiscal Year Ended June 30, 2014
Net (Expenses) Revenues and
Changes in Net Position
Program Revenues
Primary Government
Component Unit
Component
Vol
Indirect
Operating
Capital
Business -
Expense
Charges for Grants and
Grants and
Governmental
type
Downtown
Tourism
Functions/Programs
Expenses
Allocation
Services Contributions
Contributions
Activities
Activities
Total
BID
BID
Primary government:
Governmental activities:
General government
$
5,686,941
$
1,194
$ 628,729 $ 4,608
$ 904,631
$ (4,150,167)
$ -
$ (4,150,167)
Public safety
9,083,478
186,349
2,033,870 1,332,674
105,820
(5,797,463)
-
(5,797,463)
Public works
2,293,356
280,271
2,172,122 -
356,996
(44,509)
-
(44,509)
Parks and recreation
2,063,722
59,515
752,460 21,750
152,378
(1,196,649)
-
(1,196,649)
Community development
1,590,526
10,644
283,134 1,277,289
-
(40,747)
-
(40,747)
Debt service -interest
357,857
(357,857)
(357,857)
Total governmental activities
21,075,880
537,973
5,870,315 2,636,321
1,519,825
(11,587,392)
(11,587,392)
Business -type activities:
Airport
169,775
7,976
78,657 -
-
-
(99,094)
(99,094)
Water
2,454,941
170,105
2,985,959 -
1,137,384
-
1,498,297
1,498,297
Sewer
4,793,675
320,916
4,967,223 8,372
1,000,593
-
861,597
861,597
Solid Waste
728,438
84,212
951,676
139,026
139,026
Total business -type activities
8,146,829
583,209
8,983,515 8,372
2,137,977
2,399,826
2,399,826
Total primary government
$
29,222,709
S
1,121,182
$ 14,853,830 $ 2,644,693
$ 3,657,802
$ (11,597,392)
$ 2,399,926
S (9,187,566)
Component units:
Downtown BID
$
140,682
$
3,416
$ 87,485 $ -
$ -
$
(56,613)
Tourism BID
493,304
5,000
517,482 -
-
$
19,178
Total component units
$
633,996
$
8,416
$ 604,967 $ -
$ -
i
$
(56,613)
$
19,178
General Revenues:
Property taxes for general purposes
$ 8,739,807
$ -
$ 8,739,807
$
-
$
-
Video poker apportionment
60,450
-
60,450
-
-
mseellaneous
124,331
-
124,331
16,210
-
InteresUinvestment earnings
48,193
83,224
131,417
449
158
State entitlement
2,835,264
-
2,835,264
-
-
Gas Tax
364,563
-
364,563
-
-
Transfers - net
(218,728)
218,728
Total general revenues, special items and transfers
11,953,880
301,952
12,255,832
16,659
158
Change in net position
366,488
2,701,778
3,068,266
(39,954)
19,336
Net position - beginning
87,470,487
71,524,728
158,995,215
120,176
164,796
Restatements
(8,226)
(184,433)
(192,659)
(15,485)
Net position - beginning - restated
87,462,261
71,340,295
158,802,556
120,176
149,311
See accompanying Notes to the Financial
Statements
Net position - end
$ 87,828,749
$ 74,042,073
S 161,870,922
$
80,222
$
168,647
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.
Street Maintenance - Accounts for special assessment revenues levied, received, and expended to
keep streets clean, safe, and driveable.
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
June30,2014
CD
Other
Total
STREET
REVOLVING
Governmental
Governmental
General Fund
MAINTENANCE
LOAN
SID 344
Funds
Foods
ASSETS
Cash and investments
$ 1,940,132
$ 1,213,980
$ 434,414
$
-
$
5,776,171
$
9,364,697
Taxes and assessments receivable, net
743,100
88,497
-
3,542,271
1,165,419
5,539,287
Accounts receivable - net
-
-
-
-
264,795
264,795
Notes and loans receivable
-
-
1,718,991
-
597,289
2,316,280
Contracts receivable
41,290
-
-
-
-
41,290
Due from other funds
45,000
-
-
-
208,707
253,707
Due from other governments
486,358
212,427
-
-
489,484
1,188,269
Prepaids
163,547
11,556
-
-
21,369
196,472
Other debits
13,003
-
-
-
1,255
14,258
Restricted assets:
Restricted cash and investments
828,138
828,138
Total assets
$ 3,432,430
$ 1,526,460
$ 2,153,405
$
3,542,271
$
9,352,627
$
20,007,193
LIABILITIES
Accounts payable
$ 64,311
$ 122,435
$ -
$
-
$
140,405
$
327,151
Retainage
-
9,665
-
-
3,167
12,832
Accrued payroll
194,045
18,745
-
-
100,168
312,958
Due to other funds
-
-
-
208,707
45,000
253,707
Other credits
21,565
286
21,851
Total liabilities
279,921
150,845
208,707
289,026
928,499
Deferred inflows of resources
Unavailable revenue - deferred accounts receivable
-
-
-
-
253,083
253,083
Unavailable revenue - deferred loans
-
-
1,718,991
-
597,289
2,316,280
Unavailable revenue - deferred taxes and assessments
743,100
88,497
3,542,271
1,165,419
5,539,287
Total deferred inflows ofresources
743,100
88,497
1,718,991
3,542,271
2,015,791
8,108,650
FUND BALANCES
Nonspendable - not in spendable form:
Long-term recievables
13,003
-
-
-
-
13,003
Prepaids
163,547
11,556
-
-
21,369
196,472
Restricted:
General Government
-
-
-
-
41,054
41,054
Public Safety
-
-
-
-
930,531
930,531
Public Works
-
1,275,562
-
-
604,793
1,880,355
Culture and Recreation
-
-
-
-
634,672
634,672
Community Development
-
-
434,414
-
4,243,732
4,678,146
Debt Service
-
-
-
-
571,659
571,659
Unrestricted Fund Balances:
Assigned:
Capital Equipment
101,906
-
-
-
-
101,906
Parking
23,542
-
-
-
-
23,542
Unassigned fund balance
2,107,411
(208,707)
1,898,704
Total fund balance
2,409,409
1,287,118
434,414
(208,707)
7,047,810
10,970,044
Total liabilities and fund balance
$ 3,432,430
$ 1,526,460
$ 2,153,405
$
3,542,271
$
9,352,627
$
20,007,193
See accompanying Notes to the Financial Statements
29
City of Kalispell, Montana
Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Positon
June 30, 2014
Total fund balances - governmental funds
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in
the funds.
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 position
Long-term liabilities are not due and payable in the current period and therefore are not reported as
liabilities in the funds.
- Other post employment benefits
Taxes, assessments and accounts receivable will be collected this year, but are not available soon enough to
pay for the current period's expenditures, and therefore are deferred in the funds.
- current portion
- noncurrent portion
- ambulance
Loans recievable that will be collected at some future date that are recognized as revenues on the statement
of activities.
- current portion
- noncurrent portion
Total net position - governmental activities
See accompanying Notes to the Financial Statements
$ 10,970,044
81,266,723
267,760
(11,509,034)
(1,275,394)
2,254,856
3,284,431
253,083
112,125
2,204,155
$ 87,828,749
City of Kalispell, Montana
Statement of Revenues, Expenditures, and Changes in Fund Balances
Governmental Funds
For the Fiscal Year Ended June 30, 2014
CD
Other
Total
STREET
REVOLVING
Governmental
Governmental
General Fund
MAINTENANCE
LOAN
SID344
Funds
Funds
REVENUES
Taxes and assessments
$ 5,246,868
$ -
$ - $
83,160
$ 3,405,118
$ 8,735,146
Licenses and permits
70,698
-
-
-
352,656
423,354
Intergovernmental
3,694,688
-
-
-
2,710,567
6,405,255
Charges for services
682,400
1,930,224
89,888
-
1,683,800
4,386,312
Fines and forfeitures
571,741
-
-
-
325
572,066
Miscellaneous
25,186
59,010
-
-
100,076
194,272
Investment earnings
7,220
4,539
3,273
33,161
48,193
Total revenues
10,298,801
1,993,773
93,161
83,160
8,285,703
20,754,598
EXPENDITURES
General government
2,883,679
-
-
-
9,653
2,893,332
Public safety
7,116,246
-
-
-
1,638,836
8,755,082
Public works
35,838
1,777,188
-
-
563,041
2,376,067
Parks and recreation
-
-
-
-
1,664,595
1,664,595
Community development
75,200
-
33,831
-
1,492,139
1,601,170
Debt service - principal
77,270
55,343
-
225,000
906,614
1,264,227
Debt service - interest
6,985
2,669
-
142,283
205,920
357,857
Capital outlay
117,726
190,012
894,260
1,201,998
Total expenditures
10,312,944
2,025,212
33,831
367283
7,375,058
20,114,328
Excess (deficiency) of revenues over expenditures
(14,143)
(31,439)
59,330
(284,123)
910,645
640,270
OTHER FINANCING SOURCES (USES)
Issuance of debt
-
46,500
-
-
357,123
403,623
Transfers in
660,000
-
-
30,797
948,924
1,639,721
Transfers out
(386,731)
(1,252,990)
(1,639,721)
Total other financing sources (uses)
273,269
46,500
30,797
53,057
403,623
Net Change in Fund Balance
259,126
15,061
59,330
(253,326)
963,702
1,043,893
Fund balances - beginning
2,150,283
1,272,057
375,084
44,619
6,087,159
9,929,202
Restatements
(3,051)
(3,051)
Fund balances - beginning, restated
2,150,283
1,272,057
375,084
44,619
6,084,108
9,926,151
Fund balance - ending $ 2,409,409 $ 1,287,118 $ 434,414 $ (208,707) $ 7,047,810 $ 10,970,044
See accompanying Notes to the Financial Statements
31
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, 2014
Amounts reported for governmental activities in the statement of
activities are different because:
Net change in fund balances - total governmental funds $ 1,043,893
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 1,201,998
- Depreciation expense (3,719,124)
- Capital assets transferred to enterprise funds (218,728)
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 (187,873)
Revenues in the Statement of Activities that do not provide current financial resources are not reported as
revenues in the funds:
- Donated capital assets 912,834
- Deferred assessments recievable (beginning of year) (5,284,395)
- Deferred assessments recievable (end of year) 5,792,370
- Deferred loans recievable (beginning of year) (2,294,618)
- Deferred loans recievable (end of year) 2,316,280
- Increase in deferred loans recievable recognized as revenue in Statement of Activities
The change in compensated absences is shown as an expense in the
Statement of Activities 9,603
Repayment of debt principal is an expenditures in the governmental funds, but the repayment reduces long-
term debt in the Statement of Net Position:
- Long-term debt principal payments 1,264,227
Long term debt proceeds provide current financial resources to the governmental funds, but issuing debt
increases long-term liabilities in the Statement of Net Position:
- Proceeds from the sale of long-term debt (403,623)
The increase in other post employment benefits is shown as an expense in the
Statement of Activities (212,518)
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. 146,162
Change in net position - Statement of Activities $ 366,488
See accompanying Notes to the Financial Statements
32
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
Information Technology Fund - Used to account for the goods and services provided by the
information technology department to other departments of the City on a cost -reimbursement
basis.
Central Garage Fund - Used to account for the goods and services provided by the central garage
to other departments of the City on a cost -reimbursement basis.
City of Kalispell, Montana
Statement of Net Position
Proprietary Funds
June 30, 2014
Governmental
Business
-Type Activities - Enterprise Funds
Activities
Internal
Non -major
Service
Water
Sewer
Enterprise
Totals
Funds
ASSETS
Current assets:
Cash and investments
$ 3,994,982
$ 3,303,467
$ 899,156 $
8,197,605
$ 258,156
Taxes and assessments receivable, net
-
29,642
25,616
55,258
-
Accounts receivable - net
121,955
197,741
748
320,444
-
Contracts receivable
15,271
38,801
-
54,072
43,587
Due from other governments
-
92,021
97,168
189,189
-
Prepaids
12,380
17,363
6,495
36,238
4,505
Inventories
164,939
-
-
164,939
Total current assets
4,309,527
3,679,035
1,029,183
9,017,745
306,248
Noncurrent assets:
Restricted cash and investments
1,300,340
6,482,007
-
7,782,347
-
Capital assets - land
91,587
250,756
1,359,545
1,701,888
Capital assets - construction in progress
5,679
72,132
-
77,811
-
Capital assets - depreciable, net
25,290,037
44,980,436
1,806,250
72,076,723
82,807
Total noncurrent assets
26,687,643
51,785,331
3,165,795
81,638,769
82,807
Total assets
30,997,170
55,464,366
4,194,978
90,656,514
389,055
LIABILITIES
Current liabilities:
Accounts payable
41,958
133,556
16,246
191,760
91,530
Retainage
650
4,395
-
5,045
-
Accrued payroll
19,154
29,182
9,409
57,745
6,463
Current portion of long -terns capital liabilities
364,000
887,000
18,833
1,269,833
-
Current portion of compensated absences payable
53,618
92,305
39,892
185,815
17,486
Other credits
7,345
-
-
7,345
Total current liabilities
486,725
1,146,438
84,380
1,717,543
115,479
Noncurrent liabilities:
Noncurrent portion of long-term capital liabilities
2,050,000
12,366,682
154,155
14,570,837
-
Noncurrent portion of compensated absences
19,286
36,178
27,664
83,128
5,816
Other post employment benefits
153,047
89,886
-
242,933
-
Total noncurrent liabilities
2,222,333
12,492,746
181,819
14,896,898
5,816
Total liabilities
2,709,058
13,639,184
266,199
16,614,441
121,295
NET POSITION
Net investment in capital assets
22,973,303
32,049,642
2,992,807
58,015,752
82,807
Restricted for capital projects
887,470
5,182,693
-
6,070,163
-
Restricted for debt service
411,258
1,109,313
-
1,520,571
-
Unrestricted
4,016,081
3,483,534
935,972
8,435,587
184,953
Total net position
$ 28,288,112
$ 41,825,182
$ 3,928,779 $
74,042,073
$ 267,760
See accompanying Notes to the Financial Statements
33
City of Kalispell, Montana
Statement of Revenues, Expenses, and Changes in Fund Net Position
Proprietary Funds
For the Fiscal Year Ended June 30, 2014
OPERATING REVENUES
Charges for services
Miscellaneous revenues
Special assessments
Total operating revenues
OPERATING EXPENSES
Personal services
Supplies
Purchased services
Building materials
Fixed charges
Loss/bad debt expense
Depreciation
Total operating expenses
Operating income
NON -OPERATING REVENUES (EXPENSES)
Capital Grants - Developer's/Other Gov't
Capital Grants - Impact Fees
Operating Grant - Intergovernmental revenue
Interest revenue
Gain (loss) on sale of capital assets
Debt service interest expense
Total non -operating revenues (expenses)
Income (loss) before contributions and transfers
Capital contributions - Governmental funds
Change in net position
Net Position - Beginning of the year
Restatements
Net Position - Beginning of the year - Restated
Net Position - End of the year
See accompanying Notes to the Financial Statements
Governmental
Business -Type Activities - Enterprise Funds Activities
Water
$ 2,821,327
164,632
2,985,959
1,001,638
81,885
289,207
53,073
231,023
6,452
861,050
2,524,328
461,631
677,154
460,230
27,669
(24,773)
(75,945)
1,064,335
1,525,966
26,767,646
(5,500)
26,762,146
Non -major
Sewer Enterprise
$ 4,115,777 $ 1,028,460
21,440 1,873
830,006 -
4,967,223 1,030,333
1,420,233
517,116
118,135
96,115
770,519
60,186
45,241
-
475,293
127,871
5,464
-
1,967,543
189,113
4,802,428
990,401
164,795
39,932
249,933
750,660
8,372
-
50,431
5,124
(312,163)
-
747,233
5,124
912,028
45,056
218,728
-
1,130,756
45,056
40,688,926 4,068,156
5,500 (184,433)
40,694,426 3,883,723
$ 28,288,112 $ 41,825,182 $ 3,928,779
34
Internal
Totals Service Funds
$ 7,965,564 $ 992,312
187,945 23
830,006 -
8,983,515 992,335
2,938,987
363,715
296,135
251,718
1,119,912
198,332
98,314
-
834,187
28,922
11,916
-
3,017,706
15,821
8,317,157
858,508
666,358
133,827
927,087
1,210,890
8,372
-
83,224
1,085
(24,773)
-
(388,108)
-
1,816,692
1,085
2,483,050
134,912
218,728
11,250
2,701,778
146,162
71,524,728 121,598
(184,433) -
71,340,295 121,598
$ 74,042,073 $ 267,760
City of Kalispell, Montana
Statement of Cash Flows
Proprietary Funds
Year Ended June 30, 2014
Governmental
Business - Type Activities Activities
Non -major
Internal Service
Water
Sewer
Enterprise
Totals
Funds
Cash flows from operating activities:
Cash received from customers
$ 2,830,213
$ 4,212,162
$ 1,015,895
$ 8,058,270
$ 992,728
Cash received from assessments
-
816,175
-
816,175
-
Cash received from miscellaneous sources
164,633
21,440
1,874
187,947
Cash payments for claims
(687,552)
(1,394,087)
(318,382)
(2,400,021)
(395,101)
Cash payments to employees
(979,141)
(1,386,787)
(517,739)
(2,883,667)
(348,415)
Net cash provided (used) by operating activities
1,328,153
2,268,903
181,648
3,778,704
249,212
Cash flows from capital and related financing activities:
Principal paid on bonds, loans and advances
(358,000)
(868,000)
(1,226,000)
Interest paid on bonds, loans and advances
(75,945)
(312,163)
(388,108)
Acquisition and construction of capital assets
(672,190)
(1,533,956)
(453,599) (2,659,745) (47,499)
Proceeds from bonds, loans and advances
-
955,199
172,988 1,128,187
Impact fees
461,889
759,783
- 1,221,672
Net cash provided (used) by capital and related financing activitie
(644,246)
(999,137)
(280,611) (1,923,994) (47,499)
Cash flows from non -capital financing activities:
Advances between funds
33,009
33,009
Hydrant Meter Deposits
3,370
-
3,370
Intergovernmental revenue
-
8,372
8,372
Net cash provided (used) from non -capital financing activities
3,370
41,381
44,751
-
Cash flows from investing activities:
Interest on investments
27,669
50,431
5,124
83,224
1,085
Net cash provided (used) by investing activities
27,669
50,431
5,124
83,224
1,085
Net increase (decrease) in cash and cash equivalents
714,946
1,361,578
(93,839)
1,982,685
202,798
Cash and cash equivalents at beginning
4,585,876
8,418,397
992,995
13,997,268
55,358
Restatements
(5,500)
5,500
-
-
-
Cash and cash equivalents at end
$
5,295,322
$
9,785,475
S
899,156
$ 15,979,953
S
258,156
Reconciliation of operating income (loss) to net cash provided
(used) by operating activities:
Operating income (loss)
$
461,631
$
164,795
$
39,932
$ 666,358
$
133,827
Adjustments to reconcile operating income to net cash
provided (used) by operating activities:
Depreciation
861,050
1,967,544
189,113
3,017,707
15,821
Other Post Employment Benefits Expense
25,502
14,978
40,480
Changes in assets and liabilities:
Accounts receivable - net
15,338
101,848
(298)
116,888
393
Inventory
(45,169)
-
-
(45,169)
-
Taxes and assessments receivable, net
1,244
3,670
4,914
Prepaid expenses
-
608
608
(2,261)
Compensated Absences
(5,467)
12,903
(1,726)
5,710
10,912
Due from County
-
(15,075)
(15,936)
(31,011)
-
Accounts payable
12,805
15,100
(34,210)
(6,305)
86,132
Accrued payroll
2,463
5,566
495
8,524
4,388
Net cash provided (used) by operating activities
$
1,328,153
$
2,268,903
$
181,648
$ 3,778,704
$
249,212
The City received non cash contributions
of land and infrastructure as follows:
$
677,154
$
468,661
$
$ 1,145,815
$
11,251
See accompanying notes to the financial statements
35
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, 2014
ASSETS
Cash and short-term investments
Total assets
LIABILITIES
Due to others
Total liabilities
NET POSITION
Agency
Funds
$
499,452
$
499,452
$
499,452
$
4995452
See accompanying Notes to the Financial Statements
Gel