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HomeMy WebLinkAbout1991CAFRJO V, All 5 Aq rl, COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE CITY OF SEWARD, ALASKA For The Fiscal Year Ended June 30, 1991 DONALD W. CRIPPS MAYOR DARRYL SCHAEFERMEYER CITY MANAGER PREPARED BY THE DEPARTMENT OF FINANCE RICK L. GIFFORD DIRECTOR OF FINANCE AND ADMINISTRATIVE SERVICES Z_ ,_ INTRODUCTORY SECTION CITY OF SXWARD General Purpose Financial Statements and Schedules Table of Contents PART I - INTRODUCTORY SECTION Page Table of Contents I -VI Letter of Transmittal VII -XVI List of Principal Officials XVII. Organizational Chart XVIII PART II - FINANCIAL SECTION Independent Auditors' Report 1 -2 General Purpose Financial Statements - Overview: 3 Exhibit A - Combined Balance Sheet - All Fund Types and Account Groups 4 -5 Exhibit B - Combined Statement of Revenues, Expenditures, Other Financing Sources (Uses) and Changes in Fund Balances - Governmental Fund Types 6 Exhibit C - Statement of Revenues, Expenditures, other Financing Sources (Uses) and Changes in Fund Balance - Budget and Actual - General Fund 7 Exhibit D - Combined statement of Revenues, Expenses, Operating Transfers and Changes in Retained Earnings - Proprietary Fund Type - Enterprise Funds 8 -9 Exhibit E - Combined Statement of Cash Flows - Proprietary Fund Type - Enterprise Funds 10 Notes to General Purpose Financial statements 11 -37 Combining, individual Fund and Account Group Financial !Statements: 38 Governmental Fund Types: General Fund: 39 schedule 1 - Balance Sheet 40 -41 Schedule 2 - Statement of Revenues, Expenditures, Other Financing Uses and Changes in Fund Balance 42 Schedule 3 - Statement of Revenues, Expenditures, Other Financing Uses and Changes in Fund Balance - Budget and Actual 43 -47 Special Revenue Funds: 48 -49 Schedule 4 - Combining Balance Sheet 50 -51 Schedule 5 - Combining Statement of Revenues, Expenditures, Other Financing Sources (Uses) and Changes in Fund Balances (Deficits) 52 -53 DARE Program: Schedule 6 - Balance Sheet 54 Schedule 7 - Statement of Revenues, Expenditures, Other Financing Sources and Changes in Fund Balance 55 Summer Youth Employment /Training Program: Schedule 8 - Balance Sheet 56 Schedule 9 - Statement of Revenues, Expenditures and changes in Fund Balance 57 I 2 CITY OF SZWARD General Purpose Financial Statements and Schedules Table of Contents Paps Combining, Individual Fund and Account Group Financial Statementst Governmental Fund Typest Special Revenue Funds. Continusds Comprehensive Plant Schedule 10 - Balance Sheet 58 schedule 11 - Statement of Revenues, Expenditures and Changes in Fund Balance 59 Day Care Assistances Schedule 12 - Balance Sheet 60 Schedule 13 - Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) 61 1969 Flood Disasters schedule 14 - Balance Sheet 62 schedule 15 - Statement of Revenues, Expenditures and Changes in Fund Balance 63 spring Creak Correctional Centers Schedule 16 - Balance Sheet 64 Schedule 17 - Statement of Revenues, Expenditures and Changes in Fund Balance 65 Police Funds Schedule 19 - Balance Sheet 66 Schedule 19 - Statement of Revenues, Expenditures and Changes in Fund Balance 67 Prison Library - Schedule 20 - Statement of Revenues, Expenditures and Changes in Fund Balance 66 Public Library - Schedule 21 - Statement of Revenues, Expenditures and Changes in Fund Balance 69 state Revenuer sharing - Schedule 22 - Statement of Revenues, Expenditures, other Financing [uses and Changes in fund Balance 70 Litter Control - Schedule 23 - Stat most nt of Revenues, Expenditures and Changes in fund Balance 71 Oil Spills Schedule 24 - Balance Sheet 72 Schedule 25 - statement of Revenues, Expenditures and Changes in Fund Balance 73 oil Spill Polices Schedule 26 - Balance Sheet 74 Schedule 27 - Statement of Revenues, Expenditures, Other Financing Uses and Changes in fund Balance 75 IT 3 CITY OF S=WARD General Purpose Financial Statements and Schedules Table of Contents Page Combining, individual Fund and Account Group Financial Statements: Governmental Fund Types: Special Revenue Funds, Continued: Enhancement Program - Schedule 28 - Statement of Changes in Fund Balance 76 Navy Home Port - Schedule 29 - Statement of Changes in Fund Balance 77 City Signs - Schedule 30 - Statement of Expenditures and Changes in Fund Balance 78 1986 Flood Disaster - Schedule 31 - Statement of Revenues and Changes in Fund Balance (Deficit) 79 Capital Projects Funds: 80 -81 Schedule 32 - Combining Balance Sheet 82_83 Schedule 33 - Combining Statement of Revenues, Expenditures, Other Financing Sources and Changes in Fund Balances 84 -85 Senior Citizens Center: Schedule 34 - Balance Sheet 86 Schedule 35 - Statement of Expenditures and Changes in Fund Balance 87 Streets and Sidewalks: Schedule 36 - Balance Sheet 88 Schedule 37 - Statement of Revenues, Expenditures, Other Financing Sources and Changes in Fund Balance 89 Municipal Building Capital Improvements: Schedule 38 - Balance Sheet 90 Schedule 39 - Statement of Other Financing Sources and Changes in Fund Balance 91 Handicapped Access: Schedule 40 - Balance Sheet 92 Schedule 41 - Statement of Revenues, Expenditures and Changes in Fund Balance 93 Library Handicapped Accese: schedule 42 - Balance Sheet 94 Schedule 43 - Statement of Other Financing Sources and Changes in Fund Balance 95 Jail Sprinklers Schedule 44 - Balancer Shoot 96 Schedule 45 - Statement of Revenues, Expenditures and Changes in Fund Balance 97 III 4 CITY OF SWARD General Purpose Financial Statements and Schedule* Table of Contents Pane Combining, Individual Fund and Account Group Financial Statementss. Governmental Fund Types: Capital Projects Funds, Continued: Lowell Creek Bridge: Schedule 46 - Balance sheet 98 Schedule 47 - Statement of Revenues, Expenditures and Changes in Fund Balance 99 Library Renovation: Schedule 48 - Balance Sheet 100 schedule 49 - Statement of Revenues, Expenditures and Changes In Fund Balance 101 Seward Marine Industrial Center, Civil Expansions. Schedule 50 - Balance Sheet 102 Schedule 51 - Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit) 103 Lowell Canyon Tunnel - Schedule 51 - Statsnent of Revenues, Expenditures, Other Financing sources and Changes in Fund Balance 104 Seward General Hospital Equipment - Schedule 53 - Statement of Revenues, Expenditures, -ther Financing Sources and Changes in Fund Balance 105 Railroad Depot - Schedule 54 Statement of Changes in Fund Balance (Deficit) 106 Seward Marine Industrial Center, Claims Contingency - Schedule 55 - Statement of Changes in Fund Balance 107 Seward Karin* Industrial Center, Rails and Cradles - schedule 56 - stat woo nt of Expenditures and Changes In Fund Balance 108 Radio Translator: Schedule 57 - Balance Sheet 109 Schedule 58 - Stateeent of Revenues, Expenditures and Changes in Fund Balance 110 Projects to Date - Schedule 59 - Stat siont of Revenues, Lxpenditures, Other Financing Sources and Changes in Fund Balances 112 -113 Iv S CITY OF SEWAR0 General Purpose Financial statements and Schedules Table of Contents ins Combining, Individual Fund and Account Group Financial Statements: Proprietary Fund Type - Enterprise Fundss 114 Schedule 60 - Combining Balance Sheet 115 Schedule 61 - Combining Statement of Revenues, Expenses and Changes in Retained Earnings 116 schedule 62 - Combining statement of Cash Flown 117 Electric: Schedule 63 - Balance Sheet 118 Schedule 64 - Statement of Revenues, Expenses and Changes in Retained Earnings 119 Schedule 63 - Statement of Cash Flows 120 Water and Sewer: Schedule 66 - Balance Sheet 121 Schedule 67 - Statement of Revenues, Expenses and Changes in Retained Earnings (Deficit) 122 Schedule 68 - Statement of Cash Flows 123 Harbors Schedule 69 - Balance Sheet 124 Schedule 70 - Statement of Revenues, Expenses and Changes in Retained Earnings 125 Schedule 71 - Statement of Cash Flows 126 Seward General Hospitals Schedule 72 - Balance Sheet 127 Schedule 73 - Statement of Revenues, Expenses and Changes in Retained Earnings 128 Schedule 74 - Statement of Cash Flows 129 Grain Terminals Schedule 75 - Balance Shut 130 Schedule 76 - Statement of Expenses and Changes in Retained Earnings (Deficit) 131 Schedule 77 - Statement of Cash Flows 132 Fiduciary Fund Type - Agency Funds 133 Deferred Compensation - Schedule 7B - Statement of Changes in Assets and Liabilities 134 Account Groups General Fixed Assets: 135 Schedule 79 - General Fixed Assets by Sources 136 Schedule 80 - General Fixed Assets Activity 137 General Long -term Debt: 138 Schedule 81 - Statement of General Long -term Debt 139 6 6 CITY OF SWARD General Purpose Pinanciai Statements and schedules Table of Contents PART III - STATISTICAL SECTION VI Pag! Statistical Tables: 141 General Fund Expenditures by Function 142 General Fund Revenues by Source 144 -145 Property Tax Levies and Collections 146 Assessed and Estimated Actual Value of Taxable Property 147 Property Tax Rates - All Overlapping Governments 148 Special Assessment Collections 149 Ratio of General Bonded Debt Assessed Value and Bonded Debt Per Capita 150 Legal Debt Margin 151 Computation of Direct and Overlapping Bonded Debt 152 Ratio of Annual Debt Service expenditures for General Bonded Debt to Total General Fund expenditures 153 Property Value, Construction and Bank Deposits 154 Principal Taxpayers 155 Miscellaneous Statistics 156 VI CITY OF SEWARD r.p. {O% 167 SEWARD, ALASKA 99664 September 19, 1991 mand Members of the Donald ripps City of Seward P. O. Box 167 Seward, Alaska 99664 P Main Office (907) 224 -3331 Police (907) 224-3338 Harbor (907) 224 -3138 fire (907) 224 -3445 Telecopier (907) 224 -3248 Honorable Mayor Cripps and Council: The Comprehensive Annual Financial Report of the City of Seward, Alaska, for the fiscal year ended June 30, 1991, is submitted herewith. Responsibility for both the accuracy of the presentedbed dat handd the s completeness is and fairness of the presentation, including all disclosures, rests with the City. accurate in all material aspects. It is presented bmanner inancrgialeactivity of its variousefutnds Allpdisclosures the results of operations of the Citynecessarytoenablethereadertogain the maximum understanding of the City's financial activity have been included. Pr I ci 1 e e This report covers all funds and financial transactions of the City. The report is divided into three sections,. An Introductory Section, which contains a list of principal City officials, an organizational chart for theCity, and a Table of Contents; the Financial Section, which begins with the general purpose financial statements and provides an overview of the City's financial r iposition ll ttypepandtiaresults. n ro p staemeents and schedules financial statements, and the combining that provide additional detailed information relative to the general purpose financial statements; and the Stal soci Section, which includes a number of statistical tables and charts that. present various financial, economic, social and demographic data for the City for the last ten years. The City is required to undergo an annual single audit in conformity with the provisions of the State of Alaska Single Audit Regulation 2 ACC of Stta andthe Local IGovernments.19Information elated to the single audits, udits, and Budget Circular A -128, "Audis including eoro the schedule of Federal ctu es financial compliance witheappliicable laws and regulations, the inr, a report on the internal control structures P separate report. For financial reporting purposes, the City includes all funds and account groups. The general fund is supported by property taxes and other general government revenues which are not restricted to a particular use in the general fund. The City also provides utility services, including electric, water, sewer and refuse. These services are enterprise funds, supported through user charges. The City also maintains an enterprise fund to account for the operations of all harbor and port related activities. Long -term debt and earnings provide for capital outlay. Vil All operating and management functions for Seward General Hospital have been delegated to Community HospkW Board, whose members are appointed by the City Council. The City Council exercises budgetary oversight over hospital operations. The financial statements of Seward General Hospital are Included in this report. The HMMIN Entity and No Servien The Clty provides a comprehensive range of services for its citizenry. Among these servk es are police and tire, water /sewer, medical services through the Seward General Hospital, culture and leisure ser vices through its library and parks and recreation departments, electric utility, deep draft port, small boat harbor, industrial and economic development support, planning and general administrative services. The community is located on the eastern side of the Kenai Peninsula In south central Alaska, 128 highway miles south of Anchorage. Year -round access is available by road, rail and commuter air service. Seward was established in 1903 as the terminus of the (then) Alaska Central Railway. It's location was carefully chosen for it's attributes as a year -round, ice -free Port. The world class harbor characteristics of Resurrection Bay established the town economically and still drives the economic base for the community. Seward currently is the Qft town In Alaska with an Ice -free, deep -draft harbor with marl and rail service to interior Alaska. Seward's unklue port and transportation system have positioned it to be a key connection between the growing demand for Alaska's resources in the Pacific Rim Countries and the sources of those resources in Interior Alaska. Seward's physical and people assets, have created a much more diversified economy than exists In any other coastal community in Alaska. Seward has directed its economic efforts towards diversilication despite diminishing state financial assistance to municipalkies caused by the decline in oil prioes and production. The City has spent considerable effort to create and encourage private investment and year -round jobs in Seward. Diversification efforts have and are succeeding with the City's economic base, focused around seven primary economic activities including: fishing, tourism, bulk transportation, ship repair(services), forest products, government, and break- bulk(pipe) shipments to the North Slope. In spite of a recent set back with a local sawmill company, the city is considered to be an economic bright spot In Alaska. Seward's real property assessed values have remained steady because of the new diversified Industries that have developed within recent years. The City's efforts to increase activity and year -round jobs have resulted In over 300 new jobs and over $125,000,000 of new constnxIlon. White avoiding tax Increases, Seward has been able to maintain existing government service levels as increased revenues have been acquired from user fees, service fees and payments for public property leases. The outlook appears even brighter as new projects are under consideration which will add to the employment. and economic opportunities for which Seward is presently known. A major factor in the local economic development was the opening of the state's first maximum security prison in March, 19t38. As operations of the Spring Creek Correctional Center began In May of the same year, an additional 207 jobs were created to serve the Center's population of 428 prisoners. Full capacity of employment was attalned In November of 1988. These jobs greatly enhanced the local economy, providing much needed year -round employment to the primarily seasonal economy of the area. The facility was financed and constructed by the City of Seward and is being leased by the State of Alaska per a long -term lease agreement signed in October of 1985 with the appropriations Issued by the Alaska legislature. VIII One cornerstone of the City's efforts to Increase full time jobs, private investment, and economic activity has been the creation of the Seward Marine Industrial Center. This 200 acre area contains over 80 acres of prime marine industrial land that the City Is developing for long -term lease to companies needing marine dependant or marine related developable land. The City has invested over 40 million dollars of State grant monies to create this prime industrial development area. The SMIC Is the only dedicated marine industrial center in the Railbelt area of Alaska. In addition to developing industrial land for lease, the City sponsored the construction of two major ship lift facilities to provide emergency and normal maintenance repairs to large vessels operating In Alaskan waters. Seward is the only significant ship repair and dry-dock facility north of Ketchikan. The ship repair industry Is rapidly growing with over 250 large boats lifted and repaired to date, and over four million dollars per year of gross ship repair billings. New contracts are currently being negotiated between the City's ship repair operator and the State of Alaska Marine Highway System for Seward repair and maintenance of Southcentral Marine Highway ferry vessels. New ship repair companies continue to express interest In establishing operations in Seward, utilizing the City's ship lifting equipment. The City's 250 ton traveldt, installed last year, continues to bring in additional revenues and provides boat owners dry storage and repair options, either by the owner or by several repair facilities available in Seward. A cargo dock (SMIC North Dock) was completed in 1988 at the SMIC. This dock and barge ramp have since been heavily utilized for timber unloading, ship mooring and cargo. Construction of this facility was financed with a combination of state grants and $2.1 million of city general obligation bonds. A SMIC ground lease was negotiated In 1989 with Inlet Fisheries for development of a commercial receiving and canning facility. As part of the lease, the company constructed a dock adjacent to Its waterfront plant. The dock was constructed and then sold to the City for one dollar. This dock, and recently- oonsiructed dolphins, have assisted harbor and port operations in meeting the Increased demand for mooring while gaining revenues for the city harbor enterprise fund. The Inlet Fisheries' dock was recently put to good use providing long-term vessel moorage for the Glomar Adriatic Vlll, jack -up drill rig. That one contract produced well over 150,000 in fees for the City and represents an area of future revenue growth. In 19813, the City executed a long -term ground lease with Chugach Alaska Corporation for construction and operation of a $20 million timber mill which began operations in January, 1990. The state -of- the -art mill, which yearly produces 25 MMBF of export and domestic dimension lumber and wood chips employed over 130 people In timber processing and export. During the summer of 1990, Chugach Alaska constructed a conveyor dock for the purposes of loading ships with wood chips for export to Pacific Rim industries dependent upon wood by- products. In March of this year, citing economic losses associated with fishing and a ladle of an oil spill settlement with Exxon Shipping Company, Chugach filed for protection from creditors. Since that date, the Seward sawmill has seen decreasing activity with a cessation of operations In November of this year. it is the company's intention to sell their Seward mill. CAC has recently entered negotiation with two qualified companies for the purpose of selling their Seward sawmill. The town is encouraging a quick start -up of the mill under a new owner. Suneei's Seward Coal Terrninal continues its operations in receiving coal from Interior mines with expectations to include the future Wishbone Hill coal owned by the Japanese firm of Idemitsu Kosan and the loading, exporting of this resource to the Far East. With resources transported to Seward by the Alaska Railroad, Suneel and its operations generate millions of dollars in economic activity in Seward and throughout the Railbelt. IX In the summer of 1990, Pacific Telecom Cable, Inc. commenced i optic cable between the United States and Japan. The North Pacific Ca Telecom Cable, Inc., International Digital Communications Inc. of Japan, ; Kingdom. The new cable was landed at Seward and provides fiber opt the cable include voice, data, facsimile, video and enhanced value -a corporate users with large traffic volumes, manufacturers and goverr terminal has been connected to Anchorage where connections are avail repair operations have added considerable monies to Seward's economy Because of the growth experienced by the community, a new e Peninsula Borough and opened to near capacity in August, 1990. Who crowding conditions In the former school building (which housed elemen to make more room for older students, current options include moving tht utilizing portable classrooms. Seasonal activity has generated increased economic activity in k Seward experienced a decline in fishing activity versus prior years, tt program in Prince William Sound ensures a strong consistent fishing indl significant bright, busy spot in Seward In 1991. Industry analysts as 200,000 people visiting the community during 1991. Seward has be= from Anchorage, due In part to the Exit Glacier, Kenai Fjords National Ps In general. An indicator of the success of the tourism industry is the estr per week passenger service to Seward from Anchorage by the Alaska Re Because of the increase In marine and tourist activity, Seward's In need of expansion. (The wafting list for certain size mooring slips Currently under review Is a plan to expand harbor facilities in Sews commercial and recreational vessels. Included in this plan is the contra Marine Highway system to serve the MV Tustumena, a dock to serve a for the' University of Alaska and a dock for ocean cruise liners which cc the summer. One demonstration of the City's efforts to generate adds current review of a private proposal to develop a new 15 million dollar sr new boats. The proposal from a private developer would, if completed, a the presently over - crowded condition of the current city facility. In addition to the industrial and commercial development planned or under embark upon a maior, $40 million dollar, marine wildlife center. The projW a permanent and strategically pieced exhibit of stellar sea lions. The Sea display, marine mammal research and rehabilitation in a world scale facility access to the critically important mammals in the area. The project is wep t Exxon Valdez and other public and private monies possibly available to tt The City was incorporated on June 1, 1912 and became a fir. home rule provisions upon the adoption of the City Charter by a refers 1960. The form of government established by the Charter is the Coun the legislative power of the City and determines all matters of policy. Thf council members who are elected at large on a non- partisan basis. Cou a term of two years. The City Manager is the head of the administrab% responsible to the Council for the proper handling of all City affairs , X The office of the City Cleric is subordinate to, and appointed by, the CouncH. The City Clerk has duties in connection with the keeping of the public records and City elections. The City Attomey is appointed by the Council. All other officers and employees of the City are appointed by the City Manager. Appointments to the following positions are made by the City Manager with approval of the Council: City Engineer Chief of Police Director of Finance and Administrative Services Fire Chief AMunting Systern and Budges Control The City's financial statements for governmental funds have been prepared on the modified accrual basis of accounting in conformity with generally accepted accounting principles. Revenues on this basis are recognized when measurable and available to finance current expenditures; expenditures are recognized when goods and services are received and liabilities are due and payable at year end. Under this method, unpaid sales taxes and property taxes are generally not recorded as revenue until received. The City's Enterprise Funds are accounted for on the accrual basis. Revenues on the accrual basis are recognized when earned; expenses are recognized when incurred. Inventories are stated at cost using the first -in, first -out method. In developing and evaluating the City's accounting system, consideration is given to the adequacy of intemal accounting controls. Intemal accounting controls are designed to provide reasonable, but not absolute, assurance regarding: 1) the safeguarding of assets against loss from unauthorized use or disposition; and 2) the reliablNty of financial records for preparing financial statements and maintaining accountability for assets. The concept of reasonable assurances recognizes that: 1) the cost of a control should not exceed the benefits likely to be derived; and 2) the evaluation of costs and benefits requires estimates and judgments by management. All evaluations of the City's Internal controls occur within the above framework. The City believes that its intemal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial traro lions. The City adopts a fiscal year budget for the general fund. Supplemental appmpriadons require a resolution of the Council. All budgets are controlled at the fund level. Estimated purchase order amounts are encumbered prior 10 the release of the order to the vendor. When an enuurrbrance exceeds available appropriation authority, the order is delayed until the budget is amended. Open encumbrances lapse at year end and must be re- appropriated in the following year. Therefore, encumbrances are not reported as a reservation of fund balance at June 38,1991. The City authorizes expenditure levels of appropriations by type of service. Ordinance requirements provide that budgetary guidelines are not restrictive and may be re- allocated by either the City Manager or the Council. xa General 9gMM9ntai Functions Revenues from general govemmental functions (which includes General, Special Revenue and Capital Projects Funds) totaled $7,203,780 in fiscal year 1991, an increase of $1,217,786 (20.39+0) from fiscal year 1990. The amount of revenue from major sources and the increase or decrease over 1990 is shown in the following summary: Dollar Percent Increase increase Revenue Nrcgs Percent (Decrease) Amount of Total from 1990 Decrease) from 1,990 Taxes and assessments 2,524,274 35.0% $ 176,507 7.5% licenses and permits 69,195 1.0 (8,725) 11.2) Intergovernmental revenue 2,047,480 28.4 1,026.438 100.5 Charges for services 2,025,788 28.1 688,563 49.3 Fines and hails 13,058 0.2 2,481 524.007 7.3 1 Miscellaneous revenue 7,203,780 12U% 1J.21 7 MO/O General property tax revenues produced $409,663, compared to $456,143 for the prior year. Property taxes were dorm primarily due to lower personal property assessments and due to the fact that the Kenai Peninsula Borough wrote oft several years of uncollected personal property tax. Sales taxes generated 1,190,845, dawn slightly from $1,193,900 for the prior year. Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied on July 1, and are payable in two installments on August 15 and November 15. The Kenai Peninsula Borough bills and collects all property and sales taxes on behalf of the City. Licenses and permits were down slightly from FY 1990 as a result of lower building act*. There were 56 building permits issued in FY 1990 while only 48 were issued in FY 1991. Intergovemmental revenue was up from FY 1990 primarily due to an increase In raw fish tax and a slight increase In State Revenue Sharing funds. Fines and bails were down slightly for FY 1991 as compared to FY 1990. Revenue increases for charges for services were primariy up from FY 1990 in the area of administrative fees charged to the enterprise funds. As a result of an indirect coat study completed in FY 1990, the administrative fees were increased to reflect the appropriate costs of the general fund that should be allocated to the enterprise funds. There were also increases in rents and leases, railroad surveillance fees from the Alaska Railroad and recreation fees. The decrease In miscellaneous revenues was a result of fewer surplus equipment sales, gravel sales and the reimbursement from Exxon as a result of the oil spill which was received in FY 1990. xii Expenditures for general governmental purposes totaled $7,096,803 in fiscal year 1991, an increase of 2,283,857 from 1990. Increases and decreases in levels of expenditures for major functions of the Clty from the Preceding year are shown in the folkrHing tabulations: Municipal Bldg Improvements 32.810 Library Handicapped Access 13,335 Lowell Canyon Tunnel Dollar Percent 95,489 Harbor Fund(SMIC opefations) Irvrease Increase 461,968 Percent Decrease) Decrease) Arnount OfTotal Over I no General Government(including library) $1,862,301 26.3% 32,917} 1.7)96 Public Safety 1,598,873 22.5 1$1,451 11.2 Public Works 608,287 Parks and Recreation 449,119 8.6 6.3 58,032 91,317 10.5 25.5 Capital Outlay 2,215,963 31.2 1,798,286 430.5 Debt Service _ 382.280 5.1 207.88¢ 134.4 7,096,603 i2u% 2,2831867 Ely. The increase In expenditures was due primarily to the capital projects during FY 1991 which consisted primarily of the street and sidewalk improvements, the Lowell Creek bridge and the Lowell Canyon tunnel repairs. Expenditures for general government were slightly lower than FY 1990 expenditures while Public Safety, Public Works. and Parks and Recreation experienced increases. Debt service to the general fund increased by 207,686 primarily due to the 1990 bonds sold for street and sidewalk improvements. The General Fund year -end fund balance totaled $2,743,199, an increase of $391,425 from 1990. The increase is primarily due to holding expenditures lower than budget and revenues being higher than anticipated. A total of $1,144,985 was transferred from the general fund to other funds as follows: D.A.R.E. Fund 4,250 Street & Sidewalk Improvements 324,521 Municipal Bldg Improvements 32.810 Library Handicapped Access 13,335 Lowell Canyon Tunnel 54,212 Water /Sewer Fund 95,489 Harbor Fund(SMIC opefations) 143,400 Seward General Hospital 461,968 Grain Terminal 3.0m TOTAL $1.1m, The ratio of bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators of the City's debt position to management, citlzens, and Investors. Ratio of Bonded Debt to Assessed Value 100% of Per Amount Market Valu) Cauita Net Direct Bonded Debt $11,021,000 7.31% $4,083 XIII General Obiigation bonds are carried in the General Long -Term Debt group of accounts or in the respective Enterprise Funds which benefited from the proceeds of the Issue. At June 30, 1991, the City had $11,021,000 In outstanding general obligation bonds. Of this total, general obligation bonds of $8,795,710 have been recorded in the Enterprise Funds which benefited from proceeds of such bonds Issued. The City has combined all its funds into a "Central Treasury". The Central Treasury concept permits investmerrt of combined funds, and earnings thereon have been reported in the fund which supplied the resources for investment. The investment and collate ralization of City funds is governed by Section 5.15 of the Seward Code of Ordinances. The ordinance clearly identifies safety as the primary concern In the selection and management of the City's investments. Total City cash and investments at June 30, 1991 were: City. Petty Cash $ 3,315 Cash(Overdraft) (414,993) Money Market 20,7 Certificates of Deposit 1,911,937 Repurchase agreements 585,337 U.S. Government Securities 3,573,4:i Total City Cash and investments $5,679,334 Seward General Hospital Cash 82Z Total City and Hospital Cash and investments $5,660,321 Cash temporarily idle during the year was Invested in short-term time deposits, repurchase agreements and government agency securities. The amount of Interest earned in the fiscal year ended June 30, 1991, was 410,593. This amount was $14,500 more than the interest earned in the fiscal year ended dune 30, 1990 as a result of street and sidewalk bond money and the T -line grant from the State of Alaska. Proceeds of general obligation bond issues are accounted for in Capital Projects Funds until improvement projects are completed. Completed projects and uncompleted oonstnxxbn In progress at year -end are capitalized in the General Fixed Assets Account Group. xiv The general fixed assets of the City are those fixed assets used In the performance f generalgpeeo govemrnental functions. Public domain (infrastructure) general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs, etc. are not capitalized. Depreciation is not taken on general fixed assets. At June 30, 1991 general fixed assets totaled $40,820,456, a decrease of $33,214,494 from June 30, 1990. The decrease represents the transfer of the SMIC Special Revenue fund from the General Fund fixed assets to the Harbor Fund (See Notes No. 4 and No. 14 of the Financial Statements). The City maintains detailed identifiable records of all general fixed assets. Values of general fixed assets other than land are recorded at cost or the value at time of receipt by the City from a donor.. land inventories were completed in 1983. Valuation was established, as near as could be determined, to the value at the time of ownership transfer from the State or cost where acquistdon was by purchase. Fixed asset acquisitions by the Enterprise Funds are capitalized at cost. Depreciation Is computed on the stralgfrt-line method over the estimated useful lives of the assets ranging from five to thirty years. JaMrim Funds Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises - where the intent of City Council Is that the costs (Including depreciation) of providing services to the general public on a continuing basis be financed or recovered primarily through user charges. Four of the City's Enterprise Funds provide electric, waterlsewer, hospital, and harbor services. A fifth Enterprise Fund established in FY 1990 accounts for the investment in the Seward grain terminal which the city of Seward purchased from the State of Alaska in August, 1989. The city of Seward plans to sell the grain terminal to private business for use in Seward or elsewhere. Enterprise Fund Plana in service, acquired by contributions In aid of construction from grantor agencies, customers and others is depreciated. The related depreciation expense Is inckuded in the determination of net income. The annual depredation on such contributed plant is transferred from retained earnings to contributions in aid. Aocumulated amortization of contftdions in aid represents the cumulative total of such depreciation transfers. Utility revenues are based on cycle billings rendered to customers monthly. As a result of this cycle billing method, the utilities do not accrue revenue at the end of any fiscal period for services sold but not billed at such date. Interfund charges by the General Fund in lieu of taxes and administrative expenses are made in accordance with the budget ordinance. xv The City Charter and Section 29.35.120 of the Alaska Statutes both require an annual audit of the books of a000urd, financial records, and transactions of all administrative departments of "home rule" munk# aNties by a Certified Public Accountant selected by the City Council. This requirement has been compiled with and the auditor's report has been included in this report. The preparation of this report could not be accomplished without the efficient and dedicated services of the Assistant Finance Director, the entire staff of the Finance Department and Department Heads. I would like to express my appreciation to all those who assisted and contributed to its preparation. I would also like to thank the members of the City Council for their interest and support in planning and conducting the financial operations of the City in a responsible and progressive manner. Respectfully submitted, Darryl Schaefermeyer City Manager Rids L. Gifford Director of Finance and Administrative Services xvi CITY OF SEWARD LIST OF PRINCIPAL OFFICIALS Donald W. Cripps Louis A. Belcardlno Dave Crane Beverly Dunham Tames A. Krasnansky Karen Swartz Dale White Darryl Schaefexmeyer Michael V. Yanez Linda S. Murphy Rick L. Gifford Everett P. Diener Foster M. Singleton Tom Walker John R Gage Chafdn Catherine L. Nicolas Kerry T. Martin Christopher Gates xviz Mayor Co,uncllperson Councilperson CD iiper W Councilperson Councilperson Counciiperson City Manages' Assistant 'ry Manager City Clerk Dig mor of Finance and Administrative Services City Engineer and Manager Chief of Police Fire Chief Parka & Recreation Director Library Dixectos Community Development Port Marketing Director PART II FINANCIAL SECTION MW Peat Marwick Certified Public Accountants 601 West Fifth Avenue suite 700 Anchorage, AK 99501.2258 rode ndent Auditors' R@22rt The Honorable Mayor and city Council City of Sowards We have audited the accompanying general purpose financial statements of the City of Seward as of and for the year ended June 30, 1991, as listed in the table of contents (pages 3 to 37). These general purpose financial statements are the responsibility of the City's management. our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing stan- dards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of mate- rial misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant esti- mates made by management, as well as evaluating the overall financial state- ment presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Seward as of June 30, 1991, and the results of its operations and the cash flows of its proprietary Fund Type Enterprise lrunds for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general pur- pose financial statements taken as a whole. The combining, individual fund and account group financial statements, as listed in the table of contents Peat Marwick The Honorable Mayor and City Council City of Seward 2 pages 38 to 139), are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such infor- mation has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respect* in relation to the general purpose financial statements taken as a whole. September 19, 1991, except for note 13, which is as of November 20, 1991 Rpm 6, 2- CERERAL PORPOSR FIESRCISL sTATEUERTS - OVERVIEW These financial statements provide a summary overview of the financial position of all funds and account groups and the operating results of all funds. The following statements are included in this sections Combined Balance Sheet - All Fund Types and Account Groups -- reports assets, liabilities and fund balances for all funds and account groups. combined Statement of Revenues, Expenditures and.. Changes in Fund Balances iDeficit) - Governmental Fund Types -- reports results of operations of the General Fund, Special Revenue Funds and Capital Projects Funds. Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund -- compares the results of operations with budget for the General Fund. Combined Statement of Revenues, Expenses and Changes in Retained Earnings - proprietary Fund Type - Enterprise Funds -- reports results of operations of the Enterprise Funds. combined Statement of Cash Flows - Proprietary Fund Type - Enterprise Funds -- reports the sources, uses and changes in cash balances of the Enterprise Funds. 3- CITY OF SEWARD Combined Balance Shut - ALL Fund Types and Account Groups Jun* 30, 1491 with coaparative totals for 1990 4— 8ov*rnftntal Fund Types A Debits Special Capital General Raven proms Cash Equity In central treasury Cash and equity in central treasury S 2,288 074. 17,180 MOD 62 Investment In deferred compensation pion Taxes receivable, net Accounts receivable, net 5151 ,Z2 Special assessments receivable Federal grants receivable 6 074 250 200 State of Alaska receivable 62,914 Accrued interest receivable 288,344 19,219 13,136 Inventories 83,209 Due from other funds Prepaide 508 695 , Property, plant and equipment, net 1,093 Deferred charges Amount to be provided for retirement of general lone -term debt and accrued arwmi leave s 14+3 635,833 is i F Liabilities; Mote payable Accounts payable Customer deposits 627,511 Salaries and annual leave payable Accrued liabilities 129,447 Funds held in trust 109,887 Due to other funds 8,001 Due to city employees 22,114 13,036 Deferred revenue Bonds payable 301,620 112,255 21,153 Capital leas* obligations Retirement Incentive Program Deferred pension credit Total Liabilities Fund equity and other credits: Investment in general fixed estate Contributions In aid of construction Retained earnings Fund balance (deflcit): Reserved for prepaids 1,093Unreserved-. Designated for working capital needs 1,500,000DesignatedforSewardGeneralHospitalloans Designated for subsequent year expenditures 113,965 Undesignated 3,241 Total fund equity and other credits 1 1 1 9 4 7 601,644 601,644 S 3' 921 1 j 63333 See accompanying notes to general purpose financial statements. 4— Exhibit A Proprietary Fiduciary 1gC.ount Groups Totals Fund Type- Fund Type- LonO -terns I r ndur onL E Fo ! FiGeneral ae c STSs gift 14 1,027 20,495 914 4 14 5 1 4,66 ,1 1,247,230 - 1,247,230 1,086,618 1,125,848 1,225 1,768,922 41,599 1,544,792 250,200 361,919 62,919 417,548 573,526 563,855 83,209 563,855 31,530 580,059 10,564 508,695 11,657 3,369,971 26,898 62,102,923 40,820,456 102,923,379 106,848,011 42,380 3.019.379 42,380 3.014.379 44,873 bb 4Q.8 3.0 116.6 w 3.059.411 122.2 354,71-2 982,223 44,924 1,089,680 97,379 97,379 121,166 102,501 272,612 254,308 486,756 354,430 382,499 376,762 473,545 8,001 S08,6" 1,747 3.369,971 1,247,230 - 1,247,230 1,086,618 1,698,177 2,133,205 599,457 9,670,708 2,225.292 11,896.000 11.444,000 170,968 503,049 674,017 826,147 3b. 3" 36,730 24,739 3",, 0" 13,168.099 1.24 3_414.3 1 7 19,663.9H 40,820,456 40,820,456 74,034,950 47,888,746 47,888,746 20,881,714 3,949,108 1,093 1,660 1,500,000 113,965 3,241 53 61 64. 40-820.45 59 .826 0 696 9 1.245 40 8 0 4 33 017 116.6s 122.2 5- Exhibit B CITY OF SEYARO Combined Statement of Revenues, Expenditures, Other financing Sources (Uses) end Changes in Fund Balances - Governmental Fund Typos Year ended June 30, 1491 with comparative totals for 1990 See accompanying notes to general purpose financial statements. 6- Totals Speciat Cape! General Revenue i 1l, Revenues: Taxes IS 2,293,728 2,293,728 21312,297 Assessments 230,546 230,546 35,470 License* and Permits 69,195 69,19! 77,920 Intergovernmental 1,046,659 347,158 653,663 2,047,480 1,021,042 Charges for services 2,025,766 2,025,766 1,357,203 Flnes and bails 13,OS8 13,058 15,539 Interest 410,593 410,593 330,434 Miscet a I1 Total revenues 4 5 =986 41 5 Expandituress Currents General governomet 1,488,855 202,576 1,691,431 1,738,826 Public safety 1,584,"1 14,052 1,598,873 1,437,422 Public works 608,287 608,287 550,255 Parks and recreation 449,119 449,119 357,802 Library 154,870 16,000 170,870 136,392 Capital outlay 2,215,963 2,215,963 417,675 Debt aTotatoexpenditures 124,274 4,812,946 Excess (deficiency) of reverxnaa over expenditures 1.536.510 122.214 1.551.652) 106.977 1,173,069 Other financing sources (uses)s Bond proceeds 1,777,644 operating transfers from other funds 4,250 424,86 1 429,118 9,259 operating transfer* 1 1i n other financingsources (uses) Excess (deficiency) of revenues and other financins sources over expenditures and other financing uses 391.425 946) 1_12,6 7") 1736.305} 92.2 7.041 Fund balances at besinning of year, as previously reported 2,351,774 6,732 t,728,421 4,086,934 3,565,023 Prior period adjustments 1 9 0 > Fund balances at basinnin8 of year. as restated x,.351.774 6,732 1721.421 1.086 934 43. 25,940 Residual, equity transfers from other funds 450,549 Residual equity transfers to other funds: 2.086.596) Fund balances at and of year f L== JAM 21fifti LAU= 460 See accompanying notes to general purpose financial statements. 6- Exhibit C CITY OF SEWARD Statement of #avenues, Expenditures, Other Financing Sources Uses) and Changes in Fund Balance - Oudget and Actual - General Fund Year ended June 30, 1991 with comparative figures for 1990 See accompanying notes to general purpose financial statements. 7- 1991 Variance favorable 1990 Budget Actual nfav rr actual Revenues: Taxes S 2,232,381 2,293,728 61,347 2,312,297 Assessments 55,000 230,546 175,546 35,470 Licenses and permits 88,400 69,195 09,205) 77,920 Intergovernmental 981,000 1,046,659 65,659 903,879 Charges for services 1,597,934 2,025,766 427,812 1,357,203 Fines and bails 25,000 13,058 11,942) 15,539 Interest 344,936 410,593 65,657 330,434 Miscellaneous Total 4Q.QQ9 95.0 b.18 6 5S 077 1 9i. 161,31; 1S, 44:456revenues Expenditures: Current: General governomnt 1,587,509 1,488,855 98,654 1,353,714 Public safety 1,603,418 1,584,821 18,597 1,359,214 Public works 655,342 608,287 47,055 50,255 Parks and recreation 447,693 449,119 1,426) 357,802 Library 167,943 154,870 13,073 122,392 Debt service Total 3_ t 1 Og9 4 4 3644 3( 1,166) 144,7ar 154 574 9 951expenditures Excess of revenues over expenditures 571,672 1 5 41 461.738 1,296,105 Other financing sources (uses): Operating transfers to other funds: Special Revenue Funds 4,250) 4,250) 4,250) Capital Projects Funds 424,868) 424,868) Enterprise Funds 730,834) 71 .867) 14,967 514,224) Met other financing uses 1,159,952) 1,144,955) 14 9 118 4,74) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses 5$8.284) 391,425 979,705 777,631 fund balance at beginning of year, as previously reported 2,351,774 2,351,774 3,706,222 Prior period adjustments 139 08 ) Fund balance at beginning of year, as restated 3t, 51,774 35z. 1.774 3,567,139 Residual equity transfers to other funds: Special Revenue Funds 389,646 Enterprise Funds 1,603,350 Total residual equity transfers to other funds 1.492.996 Fund balance at end of year S 1,7 22 743 979 70 22 351.6.77.4 See accompanying notes to general purpose financial statements. 7- Exhibit U CITY OF SEWXW Combined Statement of Revenues, Expenses, Operating Transfers and Changes in Retained Earnings - Proprietary Fund Type - Enterprise Funds Year ended June 30, 1991 with comparative figure for 1990 Nonoperating revenues (expenses): Interest income 14A,846 65,659 810,328) (868,325) Inters t expense 11,368 140,730 Restricted revenues and grants Other 879071 60,205 X563,043) 60) Loss before operating transfers (2,313,166) (1,385,305) Continued) 8- 1991 1990 Operating revenues: Sales: Residential S 1,861,970 1,752,795 Commercial 1,671,410 Industrial 323,631323,631 281,224 Governmental 1,229,026 1,179,075 City of Seward 516,087 473,672 878,739 693,017 MoorageMooraage 202,812 198,017 72,1IA 153,790 City dock fees 778,133 253,209 Boat lift fees 128,268 146,320 Power sales patient service revenues, net 1,983,754 1,882,556 Miscellaneous 311,758 490.70? Total operating revenues 9.439,543 9,175,737 Operating expenses: Before depreciation: 1,575,589 Power Distribution 524,S23534,823 525,375 pumping 101,37• 85,562 Salaries and benefits 2,087,340 2,114,630 Supplies and maintenance 410,785 382,087 Administration and general 3,583,266 , 2,875,910 Total before depreciation 9968577,996 7 5S- Operating income before depreciation 861,547 1,616,584 Depreciation 2,611,670 2,4 Or 8 Operating loss 1,750,123) 1783,574) Nonoperating revenues (expenses): Interest income 14A,846 65,659 810,328) (868,325) Inters t expense 11,368 140,730 Restricted revenues and grants Other 879071 60,205 X563,043) 60) Loss before operating transfers (2,313,166) (1,385,305) Continued) 8- 2 Exhibit D, Cont. CITY OF SEWARD Combined Statement of Revenues, Expenses, Operating Transform and Changes in Retained Earnings - Proprietary Fund Type - Enterprise Fundf Operating transfers: From other funds To other funds Net operating transfers Net loss Amortization of contributions in aid of construction Increase in retained earnings Retained earnings at beginning of year Residual equity transfers from other funds Residual equity transfers to other funds Retained earnings at and of year 1991 1990 843,282 658,681 5,009) 843,282 653,672 1,469,864) 731,633) 1,848,202 1,729,255 378,318 997,622 5,432,378 2,798,709 1,861,047 22S,000) 1681.0 5,432,378 See accompanying notes to general purpose financial statements. 9- Exhibit E CITY OF SWARD Combined Statement of Cash Flows Proprietary Fund Type - 8nterprise Funds Year ended June 30, 1991 Cash flows from operating activities: Operating loss $ (1,750,123) Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation 2.621,670 Deferred charges 14,307) Allowance for doubtful receivables 364,529 Changes in assets and liabilities which increase (decrease) cash: Decrease in accounts receivable 617,027) Decrease in inventory 30,878 Decrease in accounts payable 87,319 Decrease in notes payable 44,924) Increase in annual leave payable 93,455 Increase in accrued liabilities 13,260 Increase in due to other funds 8,873 Total adjustments 2,533,726 Net cash provided by operating activities 783,603 Cash flows from noncapital financing activities: Customer deposits (22,096) Operating transfers from other funds 843,282 Other nonoperating revenue 98,439 Net cash provided by non- capital financing activities 919,625 cash flows from capital and related financing activities: principal payments on long -term debt (479,317) interest payments on long -torn debt (799,869) Acquisition of fixed assets (1,479,625) Contributions in aid 1,200,722 Deferred revenue 1,605,703 Not capital provided by capital and related financing activities 447,,614 Cash flows from investing activities - interest income 148,846 Not increase in cash and equity 1,899,686 Cash and equity in central treasury at beginning of year 1,025,_484 Cash and equity in central treasury at and of year $ 2•g 26, see accompanying notes to general purpose financial statements. 10- CITY OF SSWARD Notes to General Purpose Financial Statements June 30, 1991 1) Summary of Significant Accounting Policies Organization and Services Provided The City of Seward, Alaska, was incorporated June 1, 1912 as a home -rule city. The City operates under a Council-Manager form of government. The City provides the full range of municipal services as provided for by Alaska Statute. This includes police and fire protection, electric, water and wastewater services, library, parks and recreation, public ,improvements, planning and zoning, port and harbor, and general administrative services. Scope and Presentation The accounting policies of the City conform to generally accepted accounting principles as applicable to governmental units. Reporting Entity The City's general purpose financial statements include the operations of all organizations for which the City Council exercises oversight responsibil- ity. oversight responsibility is demonstrated by financial interdependency, selection of governing authority, designation of management, ability to significantly influence operations, and accountability for fiscal matters. Based on the aforementioned oversight criteria, Seward General Hospital is a component unit for which the City has oversight responsibilities. Accord- ingly, the accompanying general purpose financial statements include all activities of the City and Seward General Hospital. Basis of Accounting The accounts of the City are maintained in accordance with the balanced -fund principle of accounting, whereby all related assets, liabilities and equities are segregated into self - balancing groups for the purpose of accounting for Specific activities or attaining certain objectives in accordance with special resolutions or restrictions. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All Governmental Fund Types are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. operating statements of these funds represent increases i.e., revenues and other financing sources) and decreases (i.e., expendi- tures and other financing uses) in net current assets. Continued) 11- 2 CITY OF SsWARD Notes to General Purpose financial Statements The Proprietary Fund Type - 3nterprise Funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of these funds are Included on the balance sheet. Fund equity (i.s., net total assets) is segregated into contributed capital and retained earnings components. Pro- prietary Fund Type operating statements present increases (e.q., revenues) and decreases (e.g., expenses) in net total assets. The Fiduciary Fund Type - Agency Fund is used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the government. when these assets are held under the terms of a formal trust agreement, either a nonexpendable trust fund or an expendable trust fund is used. The terms nonexpendable and expendable refer to whether or not the government is under an obligation to maintain the trust princi- pal. The Agency Fund generally is used to account for assets that the government holds on behalf of others as their agent. The general purpose financial statements of the Governisental Fund Types and Fiduciary Fund Type and the related financial statements of the General Fund, Special Revenue Funds, Capital Projects Funds and Agency Fund have been pre- sented on the modified - accrual basis of accounting. Under this sethod, expenditures or liabilities, other than interest on general obligation bonds and certain other expenditures, are recorded when made or incurred. Revenues are recognised in the accounting period in which they become susceptible to accrual (i.e., both measurable and available). Available means collectible within the current period or soon enough thereafter to pay current liabili- ties. The major sources of revenues not considered susceptible to accrual are sales tax revenues and fees, and permits. All other revenue sources are considered susceptible to accrual. Investsisnts in the Deferred Compensation Agency Fund are valued at market. The general purpose financial statements of the Proprietary Fund Type and the related financial statements of the enterprise Funds are presented on the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognised when earned and expenses are recognised when incurred. Continued) 12- 7 CITY OF SRWMW Notes to General Purpose Financial Stat=Wnts Fund Accounting various funds are grouped in the general purpose financial statements in this report into three broad fund categories, five generic fund types and two account groups as follows: Governmental Fund Tye General Fund - The General Fund is the general operating fund of the City. it is used to account for all financial resources except those required to be accounted for in another fund. S cial Revenue Funds - The Special Revenue Funds are used to account for dedicated revenues derived from such sources as state grants, specific City operations and other sources. Capital Projects Funds - Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by the Proprietary Fund Type). Proprietary Fund - Rnterprise Funds - snterpriw Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises- -where the intent of the City is that costs expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges or where the City has decided that periodic determina- tion of revenues earned, expenses incurred and /or net income is appropriate for capital maintenance, public policy, management control, accountability or other purposes. Fiduci Fund Type - Agency Fund - The Agency Fund is used to account for assets held by the City as an agent for private organisations and other governments. The Agency Fund is custodial in nature (assets equal liabilities) and does not involve measurement of results of operations. Account Groups - Account groups are used to establish accounting control over the City's general fixed assets and general long -term debt. The City uses the following account groups: General Fixed Assets Account Group - Accaunts for all fixed assets of the City other than those accounted for in the Proprietary Fund Type - Rnterprise Funds. Continued) 13- 4 CITY OF SWARD Notes to General Purposes Financial General Long -term Debt Account Group - Acco the City except that accounted for in the P Enterprise runds. The general purpose financial statements provide a financial position of all funds and account gro results of all funds. These general purpose fi prepared from the detailed statements included fund and account group financial statements inc Total columns on the general purpose financial eta memorandum only) to indicate that they are pre financial analysis. Data in these columns do n. results of operations or cash flows in conformi accounting principles. Neither are such data c tion. Interfund eliminations have not been mad. data. Budgets and Budgetary Accounting The City Council is required to pass an appropriat Fund which becomes the expenditure budget for t. Council may pass subsequent supplemental approp, the expenditure budget. Expenditure@ may not is priations. The City manager may transfer amours• a fund or between cost centers within a departo Annual budget appropriations lapse at year -end. cribed budgetary basis of accounting is coneist4 accounting principles and, accordingly, where buck the budget and actual information conform to the , Encumbrance accounting is employed during the year us contract& and other commitments for the expenditui order to reserve that portion of the applicable - sion of formal budgetary integration in the Gene Funds and Capital Projects Funds. sncumbrances reported as reservations of fund balances and a: year appropriations. 14- 5 CITY OF SEWARD Notes to General Purpose financial Statements A comparison of the original expenditure appropriation with the final amended expenditure appropriation as presented in the financial statements is as follower Fund General fund original expenditure appropriation S 4, 6.8. ; Final amended expenditure appropriation 4,792,999 Central Treasury A central treasury is used to account for all the City's cash and investments to maximize interest income. Investment earnings are allocated to various funds based on average central treasury balances. At June 30, 1991, certain funds had received short -term cash advances from the General Fund. These short- term cash advances are reflected in the general purpose financial statements as interfund loans. Property Taxes Property taxes are levied on the assessed value of taxable property as of January I. Pursuant to Alaska Statutes, Title 29.45.240, the City establishes the mill rats before June 15. The City is located within the Kenai Peninsula Borough which acts as the City's agent in the billing and collection of property taxes. Tax bills for one half of the taxes are mailed prior to July 1 and are payable on August 151 tax bills for the second half of the taxes are mailed by October l and are payable on November 15. City property tax revenues are recognized in the fiscal year in which they are collectible and available. At June 30, the delinquent real and personal taxes not currently available are reflected as deferred revenues of the General Fund. Investments Investments of the city consist of time certificates of deposit, repurchase agresiments, and U.S. Government Securities which are valued at the lower of cost or market and are included in equity in the central treasury. Inventory Inventory, carried in the Electric and water and sewer Enterprise Funds, is carried at cost, determined by the first -in, first -out method and accounted for using the consumption method of accounting. Continued) 15- 6 CITY OF SZWARD Notes to General Purpose Financial Statements Fixed Assets tnd Long-term Liabilities The accounting and reporting treatment applied to the fixed assets and long -term liabilities associated with a fund are determined by its measurement focus. All Governmental Fund Types are accounted for on a spending or financial flow measurement focus. This means that only current assets and current liabili- ties are generally included in their balance sheets. Their reported fund balance (net current assets) is considered a measure of available spendable resources. Governmental Fund Type operating statements present increases revenue and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of available spendable resources during a period. Fixed assets which are used in Governmental Fund Type operations general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in the Governmental Fund Types. Public dm&Ln general fixed assets (infrastructure) consisting of certain improvements other than buildings including roads, bridges, curbs and gutters, street and sidewalks, drainage systems, and lighting systems are not capitalised along with other general fixed assets. No depreciation has been provided an general fixed assets. Fixed assets are valued at historical cost, estimated historical cost or estimated fair value depending on the nature of the acquisition. Long -term liabilities expected to be financed from the General Fund are accounted for in the General Long -term Debt Account Group, not in the Governmental Fund Types. The two account groups are not funds. They are concerned only with the measurement of financial position. Noncurrent portions of long -term receivables due to the Governmental Fund Types are reported on their balance sheets, in spite of their spending measurement focus. Special reporting treatments are used to indicate, however, that they should not be considered available spendable resources since they do not represent net current assets. Recognition of Governmental Fund Type revenues represented by noncurrent receivables is deferred until they become current receivables. Continued) 16- 7 CITY OF SIMARD Notes to General Purpose Financial Statements Noncurrent liabilities are reported in the General Long -term Debt Account Group. Expenditure recognition for Governmental Fund Types excludes amounts represented by noncurrent liabilities because of their spending measurement focus. Long -term liabilities do not affect current assets as such long -term amounts are not recognized as Governmental Fund Type expenditures or fund liabilities. General Fixed Assets Fixed assets acquired by funds other than the Enterprise lunda'are re+:orded as expenditures in each fund and, depending on the nature of the acquisition, are capitalized at historical cost, estimated historical cost or estimated fair market value in the General Fixed Assets Account Group. upon disposal of significant property items, the General Fixed Assets Account Group is relieved of the related cost and value received is normally accounted for as revenue in the General Fund. Fixed Assets (enterprise Funds) Assets comprising property, plant and equipment in the Enterprise Funds are stated at cost. Depreciation has been provided by ust, of the straight -line method over the estimated lives of the assets. estimated lives of major asset categories are as follows: Life in years Buildings 10 -50 Improvsmsnts other than buildings 10 -50 Rquipment 2-30 Enterprise Fund property, plant and equipment acquired by contributions in aid of construction from grants, entitlements or shared revenues externally restricted are depreciated. The related depreciation expense is included in the determination of net income. The annual depreciation on such contributed plant is transferred from retained earnings to contributions in aid. Accumu- lated amortization of contributions in aid represents the cumulative totals of such depreciation transfers. Continued) 17- a CITY OF SMARD Notes to General Purpose Financial Statements Accrued Leave Annual leave (vacation) is recorded as an expense in the Proprietary Fund Type in the period it is earned by t1* employees, with the total liability for accrued leave presented in the ::elated fund balance sheet. The amount of compensated absences recorded as expenditures in the Governmental Fund Types is the amount accrued during the year that would normally be liquidated with expendable available resources. Only the current portion of the liability is recorded in the Governmental Fund Type balance sheet, with the - remainder reported in the General Long -term Debt Account Group. Prepaid Expenditures Prepaid expenditures primarily represent costs of insurance and similar services allocated to succeeding periods and rents paid in advance of the period to which they apply. The City's policy is to charge such costs to the period benefited. Accordingly, reported prepaid expenses are equally offset by a fund balance reserve. Contributed Capital - enterprise Funds Contributed capital is reported, net of accumulated depreciation, on contributed assets. 2) Stewardship, Compliance, Accountability and Appropriations The City authorises expenditure levels of appropriations by type of service. ordinance requirements provide that budgetary guidelines arm not restrictive and may be reallocated by either the City manager or the City Council. During the year ended June 30, 1991, General Fund expenditures exceeded amounts appropriated for some services but did not exceed the total amount appropriated or actual revenues. other Individual Fund Disclosures Following is a schedule of interfund receivables and payables at Juno 30, 1991: Receivables PayablsM General Funds Special Revenue Fundss Summer Youth employment /Traininq Program $ 3,917 - Day Care Assistance 12,181 - Spring Creek Correctional Center 6,016 Total Special Revenue Funds 22,114 - Continued) 18- 9 CITY OF SZ"ARD Notes to General Purpose Financial Statements Capital Projects Funds: Handicapped Access 754 - Lowell Creek Bridge 12,262 - Total Capital Projects Funds 139036 Enterprise Funds: Water and Sewer 20,255 - Harbor 367,013 - Seward General Hospital 43,948 - Grain Terminal 42,329 Total Enterprise Funds 473,545 Total General Fund 508,695 Special Revenue Funds: General Fund: Summer Youth employment /Training Program - 3,917 Day Care Assistance - 12,181 Spring Creek Correctional Center - _ 6,016 Total Special Revenue Funds - 22,114 Capital Projects Funds: General Fund: Handicapped Access 754 Lowell Creek Bridge 12,282 Total Capital Projects Funds 1036 Enterprise Funds: General Fund: Hater and Sewer 20,255 Harbor 367,013 Seward General Hospital 43,948 Grain Terminal 42,329 Total Enterprise Funds 473,545 Total 508,695 118 "69S continued) 19- 10 CITY OF SZVARD Notes to General Purpose Financial Statements A summary of operating transfers for the year ended June 30, 1991 follow: From To other other funds funds General Fund: DART Program Special Revenue Fund $ - 4,250 Streets and Sidewalks Capital Projects Fund - 324,521 Municipal Building Capital Imprav rants Capital Projects Fund - 32,810 Library Handicapped Access Capital Projects Fund - 13,33S Lowell Canyon Tunnel Capital Projects Fund - 54,212 Water and Sewer Enterprise Fund - 95,489 Harbor Enterprise Fund - 143,400 Seward General Hospital Enterprise Fund - 461,958 Grain Terminal Enterprise Fund 151000 Total General Fund - 1,144,985 Special Revenue Funds: DARE Program Special Revenue Fund free General Fund 4,250 - State Revenue sharing Fund to Seward General Hospital - 127,415 Total special Revenue Funds 4,250 127,415_ Capital Projects Funds: Streets and Sidewalks from General Fund 324,521 - Municipal Building Capital Improvesisnts frost General Fund 32,810 - Library Handicapped Access from General Fund 13,335 - Lowell Canyon Tunnel from General Fund 54,202 - Total Capital Projects Funds 424,868 - Enterprise Funds: Water and Sewer from General Fund 93,489 - Harbor from General Fund 143,400 - Seward General Hospital from General Fund 589,393 - Grain Terminal from General Fund 15,000 - Total Enterprise Funds 843,282 - Total S 1,27...., 0 0. 1 272.400 Continued) 20- 11 CITY OF SZNARD Motes to General Purpose Financial Statements 3) Cash and Investments Statutes authorise the City to invest in obligations of the U.S. Treasury and U.B. Agencies, banker's acceptances, repurchase agreements, commercial paper rated A -1 by Standard Q Poor's Corporation or P -1 by Xoody's Commercial Paper Record and suturing within nine months, and certificates of deposit insured by federal depository insurance or secured by eligible collateral held by a third party in the City's name. The City maintains a general cash and investment pool for the purpose of maximising investment returns for all funds except those moneys in the Police Special Revenue Fund and the Agency Lund. The cash and investments pool operate@ essentially am-a demand deposit account for the various funds, and interest income earned on pooled cash and investments is allocated monthly to the funds based on their cash balance at the end of the month. The portion of this pool for each fund type is displayed in the combined balance sheet under the caption equity in central treasury. At .Tune 30, 1991, the central treasury was composed of the followings Patty an& Dwosits H mV Mdft OsEtifiCWkxs of doxeit OV=Mio* LMUM%h U.B. Oxmc nmok securities Livesbsele in dsfscstl AM%W1mmti1= 1 2 3 3,315 117,1W) 1,911,937 296,906) - 20,245 OKWYi14 Value 3,315 marmt valve 3,315 414,166) 38,231 20,245 20,245 1,911,937 1,911,937 585,337 - 585,337 585,337 2,349,909 1,224,564 - 3,573,493 3,688,725 S 4,1 1, 5.X 2016245 5r ,161 6 24471290 1&2.47A230 11 247&20 Category 1 includes cash deposits which are insured or collateral - issd with securities held by the City or by its agent in the City's name and investments that are insured or registered or for which the securities are held by the City or its agent in the City's nams. Continued) 21- 12 CITY OF SRWARD Dotes to General Purpose Financial Statements Category 2 includes cash deposits that are collateralized with securities hold by the pledging financial institution's trust department or agent in the City's name and uninsured and unregis- tered investments for which the securities are held by the counter - party's trust department or agent in the City's name. Category 3 includes cash deposits that are uncollateralized (this includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust depart- ment or agent but not in the City's name) and uninsured and unre- gistered investment for which the securities are held by the counterparty, or by its trust department or agent but not in the City's name. The following is a summary of all fund equity in the central treasury and cash: General Fund S 2,071,987 Special Revenue funds: DAR= Program 3,864 Comprehensive plan 1,922 1969 Flood Disaster 35,051 Total special Revenue Funds _ 40,837 Capital Projects Funds: Senior Citizens Center 3,829 street and sidewalk 561,670 Municipal Building Capital Improves:ent 32,810 Library Handicapped Access 13,335 Jail sprinkler 21,153 Total Capital Projects Tunds 622,697 Enterprise Funds: ilectric 2,541,839 Harbor _ 382,306 Total enterprise Funds _2j9249145 Deposits 17,180 Petty cash 3,313 Total cash and equity in central treasury S 5,681 Continued) 22- 13 CITY OF 8zWM notes to General Purpose financial 8tatsmisnts 4) Fixed Assets A summary of changes in general fixed assets follower I at BLIMM at Addy 1, ,1990 Rsdr AW tip D WAUc is Jim 3D, 1991 IMA $ 19,627,781 w - 19,677,781 9A Id' 7,030,219 cthw 99,050 7,129,269 then bsildI 42,980,46$ 35,407,448 1,199,844 6,572,8D0 1,936,943 FIXOd somas 381,E 59,370 2,2481as in s!*!0 71 575,401 35,407,448 1,480.152 49,370 37,578,735 OxIsbactim WXk in praguass 2,M. - 2,071.899 1,289,727 3,2UX721 S 74 034 990 35 607,448 36752.061 1,359,097 40.870,466 A summary of Proprietary fund Type property, plant and equil 1, at June 30, 1991 follows: i 120,709 Buildings 4 061,141 Improvements other than buildings 47,472,014 Wguipmont 27, 073, 022 Mork in progree _21296,512 81,023,398 Les• accumulated depreciation 18,920,475 62,202,923 Continued) 23- I 14 CITY of SsNARD Notes to General. Purpose Financial Statements 5) Retirement Plans State of Alaska Public loyees' Retirement System A. Pl&3 DO@CriVtiCn The City contributes to the state of Alaska Public employees' Retirement System plan), an agent multiple - employer public employees defined benefit retire - ment system that acts as a common investment and administrative agent for state, political subdivision and public organizations in the State of Alaska. All full -time employees, except union Electric Fund employees, are eligible to participate in the Plan. senorita vest after five years of service. employees hired prior to July 1, 1986 with five or more years of credited service are entitled to annual pension benefits beginning at normal retire- ment age fifty -five or early retirement age fifty. For employees hired after June 30, 1986, the normal and early retirement ages are sixty and fifty -five, respectively. The normal annual pension benefit is equal to 2% of the member's highest three -year average monthly compensation for the first ten years of service, 2.35% for the second ten years of service, and 2.50 for the third ten years of service. All service earned prior to July 1, 1986 will be calculated using the 21b multiplier. &Vloyeee with thirty or more years of credited service (twenty years for peace officers and firemen) may retire at any age and receive a normal benefit. Minimum benefits for all employees eligible for retirement are $25 per month for each year of credited service. Major medical benefits are provided without cost to all participants first hired before July 1, 1986. Participants first hired after June 30, 1966 may elect major medical benefits. The Plan also provides death and disability bene- fits. These benefit provisions and all other requirements and provisions of the plan are established by Alaska statutes. continued) 24- 15 CITY OF SZWMW Notes to General Purpose Financial Statements Prior to January 1, 1967, participating employ"@ were required to contribute 4.25% of their compensation to the Plan, except for peace officers and fire- men who contributed 5% of their compensation. Beginning January 1, 1987, contribution rates were increased to 7.5% for peace officers and firemen and 6.75• for other employees. The employer is required to contribute the remaining amounts necessary to finance the Plan, based on the Plan's actu- arial determinations as specified by the State Plan Board. lmployer rates are adjusted annually on July 1 and are based on actuarial valuations made two years prior to that date. The employer rate for amortizing all future service liabilities is uniform for all participating employers and a separate rate is determined for amortising each employer's unfunded past service lia- bility. Beginning July 1, 1990, the employer's contribution rate through June 30, 1991 is 8.1% and 20.59% for the City and hospital, respectively, of eligible employee compensation to the Plan. The employer's contribution rates will be 6.37• and 14.34% for the City and hospital, respectively. B. Investments The City, at June 30, 1991, does not have any of its notes, bonds or other instruments included in Plan assets. C. Funding Status and Progress The pension benefit obligation is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases an step -rate benefits, estimated to be payable in the future as a result of employee service to date. The measure, which is the actuarial present value of credited projected benefits, is intended to help users season each plan's funding status on a going - concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among employers. The measure used is the actuarial present value of projected unit credits. The pension benefit obligation of the Plan was computed as a part of an actuar- ial valuation performed as of June 30, 1990. The actuarial assumptions used to determine the pension benefit obligation are identical to those used to determine contribution requirements. Continued) 25- 16 CITY OF SEWARD Notes to General Purpose Financial Statements Significant actuarial assumptions used for the Plan include (a) rat• of return on assets of 9% per annum, (b) health cost inflation of 9% per annum and, (c) salary increases of 6.5• for the first five years of employment and 5.5• thereafter. The unfunded pension benefit obligation for the Plan is as follows as of June 30, 1990, the latest actuarial valuation date: Pension benefit obligation: Retirees and beneficiaries currently receiving benefits and terminated employees not yet receiving benefits current employees: Accumulated contributions including allocated investment income Employer financed - vested Employer financed - nonvested Total pension benefit obligation Net assets available for benefits, valuation based on book value for fixed income investments and for other investments, a three -year average ratio between market and book values, but not outside the range of book or market values unfunded pension benefit obligation Assets a a percent of pension benefit obligation 26- City Hospital 1,634,000 1,061,000 943,000 231,000 2,517,000 1,109,000 361,000 77,000 5,455,000 2,479,000 5,995,000 1,139,000 S 54 000) 1,3391000 109.9% 4 Continued) 17 CITY OF SZWAM Notes to General Purpose Financial Statements Not assets available for benefits computed on the three -year average ratio between market and book values equal 102.6% of book value for the entire plan. The average market value is equal to 100% of book value for the entire plan. Information on net assets market value in not available by individual employer. There were no changes in the State Plan actuarial method or assumptions from the previou valuation. D. Contribution Requirements and contributions )lade Funding policy for the Plan provides for actuarially determined periodic contri- bution rates that change over time so that sufficient assets will be avail- able to pay benefits when due. The actuarial methods and assumptions used to compute the contribution rates are the same as those used to compute the pension benefit obligations. Any unfunded liability is amortised using the level percentage of payroll method. The unfunded liability is amortized over twenty -five years for the Plan. Any funding surpluses are amortised over five years for the Plan. Employer contributions by the City for the year ended June 30, 1991 are chodulod below and were made in accordance with actuarially determined requirements computed using actuarial valuations performed as of June 30, 1990 for the Plant City: Amount Percent of payroll Hospital: Amount Percent of payroll Total Covered Combined payroll payroll ZMLoyer Employee Total 3,2 22 67i 9 ` 211 186 07 197,672 100.00% 82.15% 7.89% 6.95% 14.84% 1,156,596 1,082,001 155,159 73,035 228,194 100.00% 93.551 14.34• 6.75% 21.09% 27- continued) 18 CITY Of SZWARD Notes to General Purpose financial statements A breakdown of normal cost and amortisation of the unfunded liability is not available. E. Trend Information Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Ten -year trend information for PsRS may be found in the State of Alaska Public 9mployess• Retirement System June 30, 1991 annual report. Trend information follows* Hospital* 1987 369,000 1,394,000 Net 1,025,000 M/A Unfunded 1988 Not 2,079,000 assets 361,000 953,639 Peo as a 1989 assets Pension available Unfunded 969,590 percent 1990 available benefit as a pension Annual of annual for obligation percent benefit covered covered benefits Pool of Poo obligation payroll payroll city* 1987 3,671,000 3,088,000 118.9% 583,000) N/A N/A 1988 4,511,000 4,298,000 104.9 213,000) 2,146,654 10)% 1989 5,238,000 4,693,000 111.6 545,000) 2,322,978 23.4) 1990 5,995,000 5,455,000 109.9 541,000) 2,679,008 20.2) Hospital* 1987 369,000 1,394,000 26.5 1,025,000 M/A N/A 1988 1,718,000 2,079,000 82.6 361,000 953,639 37.9 1989 881,000 2,273,000 38.7 1,392,000 969,590 143.6 1990 1,139,000 2,478,000 46.0 1,339,000 1,082001 123.8 N/A • not available. ldnployer contributions which were made in accordance with actuarially determined requirements as a percentage of annual covered payroll for the year ended June 30 follow* Year City Hospital 1989 9.74• 19.04% 1990 3.14 20.10 1991 8.10 14.3: Continued) 28- 19 CITY OF SEWARD Notes to General Purpose Financial Statements Prior to 1987, Plan information was available for the total State Plan only, not by individual employer. Ten -year trend information for the State of Alaska Public Employees' Retirement System may be found in the PEW June 30, 1991 annual report. Retirement Incentive Program The Retirement Incentive Program (RIP) was established May 15, 1986 under House Bill 382. RIP was designed to encourage employees who were eligible for the program to retire voluntarily with earlier retirement eligibility or increased benefits. The cost of RIP is more than offset by the savings of salary and other benefits provided to an active employee. To be eligible for RIP, an employee must be vested, included in the organisa- tional unit approved for participation, and seat the minimum age and service requirements. RIP gives each eligible employee participating in the program three years of incentive credit. The incentive credit is applied in the following order: 1. To reduce the age or service requirement for normal or early retirement. 2. To reduce the actuarial adjustment for yearly retirement. 3. To increase the amount of Pin service used to determine the employee's benefit amount. The cost of the program is shared between the City and the employees. PERS participating employees who were peace officers and fireman were required to contribute 15 %, and all other participating esiployeas were required to con- tribute 12.5% of their annual compensation for the calendar year in which they terminated employment to participate in RIP. This may be paid in a lump sum or as indebtedness which will result in an actuarial reduction in the benefit. The employer is required to pay the remaining obligation within three years after the year in which an employee retires. The total amount that the City is liable for under RIP is $36,730. International Brotherhood of Electrical Workers Electric Fund employees are members of the International Brotherhood of Electrical Workers, which maintains its own defined contribution pension plan. The City's contribution rate for 1991 was $3 per compensable hour for a total contribution of $44,049. Continued) 29- CITY OF SWARD Notes to General Purpose Financial Statements 6) Accrued Leave Accrued leave estimated to be paid with current available resources is recorded In the General Fund. The portion to be paid from future resources of the General Fund ($354,308 at June 30, 1991) is recorded in the General Long -term Debt Account Group. The City's policy is to make no distinction between vacation and sick leave as accrued leave includes both types of leave. A summary of the change in long -term accrued annual leave is as follows: Balance at July 1, 1990 S 306,516 Increase 47,790 Balance at June 30, 1991 S 254,308 7) Deterred Compensation plan The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code section 457. The plan, available to all full -time employees, permits then to defer a portion of their salary until future years. Deferred compensation is not available to employees until termination, retirement, death or an unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the plan), subject only to the claims of the City's general creditors. Participants, rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account for each participant. it is the opinion of the City's legal counsel that the City has no liability for losses under the plan but does have this duty of due care that would be required of an ordinary prudent investor. This City believes that it is unlikely that it will use the assists to satisfy this claims of general creditors in the future. Continued) 30.. 21 CITY OF 83NAM Notes to General Purpose Financial Statesrnts 8) Capitalized Leases The City has entered into several lease agreements as losses for financing the acquisition of police automobiles and communication equipment, a lire truck, computers, heavy equipment for the =lectric Fund and Hater and Sewer Fund, hospital equipment, and a 250 -ton boat lift. These lease agreements qualify as capital leases for accounting purposes (titles transfer at the end of the lease terms) and, therefore, have been recorded at the present value of the future minimum lease payments. The following is an analysis of the capital leases as of June 30, 1991s General Fixed Assets Account =nterprise Group Funds Machinery and equipment $ 696,999 1,214,051 Less accumulated depreciation - 151,501 Carrying value $ 69699 1,06 The following is a schedule of future minimum lease payments under these capital leases and the present value of the net minimum Lase payments at June 30, 19911 Continued) 31- General Long -tern Debt Account Enterprise Group Funds Fiscal year ending June 30s 1992 166,665 159,341 1993 153,224 173,389 1994 166,004 121,808 1995 62,840 106,655 1996 54,957 98,088 Thereafter 30,222 984,678 Total minimum leans payments 633,912 1,643,959 Less interest 125,863 617,153 Present value of future minim= lease payments 508 6049 1,0 Continued) 31- 22 CITY OF SMARD Notes to General Purpose Financial Statoments 9) Long -term Debt General Obligation Bonds Tho City issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds have been issued for both general government and proprietary activities. These bonds are reported in the Proprietary Fund Type, Enterprise Funds if they are expected to be repaid fraw proprietary revenues. General obligation bonds are direct obligations and pledge tho full'taith and credit of the government. General obligation bonds currently outstanding are as follows: 32- Amount 12,000 465,000 1,135,000 705,000 4,494,000 2,410,000 1.800.000 11 0000 Continued) Interest rates 226,000 1962 water social bonds, due September 1, 1991 3.3750 1,200,000 1976 water and eater serial bonds, due in annual installments of $80,000 to $110,000, through June 1, 1994 7% to 81 1,700,000 1980 electric serial bonds, due in annual installments of $80,000 to $105,000, through January 1, 2001 71 5,000,000 1984 electric serial bonds, due in annual installments of $150,000 to $205,000, through October 1, 1994 9.5• to 12.51 4,845,472 1986 electric serial bonds, due in annual installments of $61,000 to $565,000, through October 1, 2004 4.5% to 7.5% 2,550,000 1987 harbor /general government serial bonds, due in annual installments of $75,000 to 245,000, through Docowbor 1, 2004 5.75• to 8.250 1,800,000 1990 general goverment serial bonds, due in annual installments of $45,000 to 165,000, from 1993 through December 1, 2011 6.44 to 7.59 32- Amount 12,000 465,000 1,135,000 705,000 4,494,000 2,410,000 1.800.000 11 0000 Continued) 23 CITY OF 8sgA8D Notes to General Purpose Financial statements Annual general obligation bond debt service requirements to maturity are asfollows: Continued) 33- General Long -term Year ending ante rise Funds Debt; Account group Total June 30 Principal Interest Principal Interest Principal Int_ ersst 1992 444,765 636,783 13,235 163,917 458,000 800,699 1993 464,885 602,863 59,115 163,055 524,000 765,918 1994 510,000 554,543 60,000 159,228 570,000 723,771 1995 554,118 521,937 65,882 155,268 620,000 677,205 1996 603,353 478,952 72,647 150,810 676,000 629,762 1997 -2001 3,040,354 1,758,684 432,646 672,223 3,473,000 2,431,107 2002 -2006 2,791,176 622,671 618,824 483,223 3,410,000 1,105,894 2007 -2011 387,059 32,612 737,941 222,988 1,125,000 255,600 2012 165,000 12,375 165,000 X12 3,75 8 74j 1 55 21ir.g 2 2, 22... E 2 18i: 11, 0 1' . 7,402,331 changes in 19 tea Liabilities During the year ended June 30, 1991, the following changes occurred in long -term liabilitiesi BaLmum at ransfas bslb w Selene at 9--you* July 1, 1990 funds hddit3am lydm*iar jum 3D 1991 Capumvind ab..xw. 206,518 47,790 254,308 asmeal cbiLgatica bade 2,737,645 32,353 2,225,292 Ovital la arms 1,461,509 875,OW) 34,OT1 117,537 503,019 FatLamak Incarrei a Psagcae 24,739 36` 244,739 36,730 RNSWE 3,930,411 12,07 360.1 79 Onuaml abl q*A= badr 9,206,355 410,647 8,795,706 OVU2d immen x,60 875,000 62,814 1,061,841 9.. M00 473&47; 9j"7W Continued) 33- 24 CITY OF SEWAM Notes to General Purpose Financial statements 10) Segment Information for Enterprise Funds The City maintains five enterprise funds which provide electric, water and sewer, harbor, hospital services and grain terminal. Segment information for the year ended June 30, 1991 followsl Total q*csting ze F.lsclric 4,729,015 Gprstitg rsysEaM ft= 9,439,543 the City of Ssdod 454,70? Dspledatim mqp 932,899 Cpsssrti>ng ire (100) trsrrsf 240,434 090 etis4 frM cuter funds Nlrt low 175,931) Clersr>Ik capital c=V:rci h*iCW 361,M Pxapscty, W.rt and 143,400 O*dprrlrt xMitiou 410,061 copital deficieW) 724,103 M*AX assns 20, 002, 62B ffxb atd other Umq- WMM and 953,499 1,730,449 2,024,'590 9,439,543 61,355 516,057 373,491 1,222,936 746,379 3,275,705 244,171) 1,025,405) 661.419) 12,674) (1,723,234) 95,499 143,400 589,393 15,000 843,282 269,798) 1,088,311) 10.484) 8,960) (1,553,484) 705,662 - - 1,067,232 144,415 867,329 57,820 - 1,479,62S 69,157) 180,010 354,281 5,423 11194,660 9,069,276 36,164,434 1,582,618 99,585 66,867,541 t,ocs l idA iti.s 6,092,235 393,765 2,7:..943 Fund equity 11,662,140 8,..,;S '32' A summary of changes in contributed capital follows Transfers to 39,091 - 9,313,024 4 5 3 53L6W 442 Balance at Enterprise Balance at July 11 1994 Funds Additions Del etions June 30x1991 Electric Fund $ 12,242,27S 361,570 - 12,603,845 Harbor Fund 2,981,956 32,628,386 705,662 . 36,316,004 15 .6241 23268 86 1,067,232 48 949 Continued) 34- 25 CITY OF SsNARD Notes to General Purpose Financial Stateme nts A summary of changes in accumulated amortisation of contributions in aid follows) Transfers to Balance at interprise Balance at July 1, 1990 Funds Additions Deletions June 30, 1991 ilectric Fund $ 1,885,183 - 442,703 - 2,327,886 Harbor Fund 431,394 S,758,618 90,277 6,280,289 3 2,31 S,7S 532 ` 8 67 11) spring Crook Correctional Canter In 1985 the City undertook the financing and construction of a 320 -bed, maximum security correctional facility on behalf of the State of Alaska. The facility was financed with nonrecourse certificates of lease participation and leased to the state under the terms of a long -tern lease signed in 1988. The facility is currently being operated by the state. Technically, the City is the owner of the facility. However, under the terms of both the financing and lease agreements, there is no possibility of the City over becoming liable for the debt or being obliged to take actual possession of the facility. Consequently, the City has not included the value of the facility in its general fired assets. Payments for all costs of construction were made directly by the project trustee, Security Pacific Bank of Washington, under the terns of a trust indenture executed by the parties in 1985. The City has maintained a Special Revenue Fund, Spring Creek Correctional Canter, to account for its administrative costs in monitoring construction of the facility. These administrative costs have bean reimbursed to the City by the project trustee from the project funds. Continued) 35- 26 CITY 01 SWARD Notes to General Purpose Financial Statements 12) Revenue Bonds On August 1, 1984, the City participated in the issuance of $12,000,000 of revenue bonds on behalf of Suneel Alaska Corporation. The proceeds were used to establish a coal facility in the Port of Seward. The City has no direct Involvement with the administration of these bonds except to allow their issuance under the name of the City. These revenue bonds are issued under provisions of state and federal law that provide that the bonds do not con- stitute an indebtedness of the City. The bonds do not constitute a general obligation or pledge of the full faith and credit of the City and, according- ly, the bonds and the related assets are not reflected in the accompanying financial statements. The bond installments are payable semiannually in the amount of $423,077, each payment plus 86.8% of Chemical Bank's prime rate. Suneel Alaska Corporation redeemed all bonds outstanding on August 13, 1990. On December 10, 1990, the City participated in the issuance of $7,300,000 of variable Rate Demand Revenue Bonds, Series 1991 for the Alaska Pacific University. The proceeds of the issue were used to refinance previous debt hold by the Alaska Pacific University. The bonds do not constitute a general obligation debt or pledge of the full faith and credit of the City and, accordingly, the bonds and the related assets are not reflected in the accom- panying financial statements. These bonds have a floating interest rate based an 771 of the Security Pacific sank of Washington prime rate, adjusted automatically to reflect each change in the rate. A schedule of the remaining principal debt, with a balloon payment in the final year, followat Year ending June 30 Principal 1992 106,907 1993 119,295 1994 126,916 1995 6,746,110 13) Commitments and Continttencies Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the state and federal govern- ment. Any disallowed claims, including any amount already collected, could become a liability of the applicable funds. Continued) 36- 27 CITY OF SWARD Notes to General Purpose Financial Statements Various other claims and lawsuits against the City are pending, but are either covered by insurance or are the type which are normal and reasonable in view of the City's operations. City management believes the total amount of the liability, if any, which may arise from such claims and lawsuits beyond that which is covered by insurance would not have a material effect on the City's financial condition or its ability to carry on its activities substantially a now conducted. During August 1991 the City experienced a failure in the sewage treatment lagoon due to damage to a sewage treatment cell. The failure has been declared a disaster emergency by the State of Alaska. The City is eligible to receive up to $745,000 from the State of Alaska for the costs to determine the cause of the failure. 14) Seward Marine Industrial Center For the year ended June 30, 1991, the City transferred the Seward Marine Indus- trial Center to the Harbor Fund as both function to provide port services to the public and are therefore better accounted for as one. For comparability purposes, the appropriate balance sheet and income statement as of June 30, 1990 were restated. fixed assets and a bond issuance were transferred to the Harbor Fund from the appropriate account groups. As necessary, accumulated depreciation, contributions in aid and accumulated amortisation of contribu- tions in aid ware calculated as if the assets had been in the Harbor Fund since their purchase and /or construction. Beginning retained earnings in the Harbor Fund were increased as of ,Tune 30, 1990 by $1,483,2701 contributions in aid of construction increased by $27,814,8941 property, plant and equip- ment in service increased by $30,561,456 and bonds payable increased by 875,000. 37- CG Inml ImXVIDUAL Im Fv-- .7 38- GSNZRAL FUND The General Fund is established to account for the financial operations of the City of Seward which are not accounted for in any other fund. Revenues for this fund are recorded by source. Principal sources of revenues are property taxes, sales taxes, intergovernmental revenue and charges for services. Expenditures are recorded first by function, then by activity and object of expenditure. General Fund expenditures are made primarily for the operations of basic municipal services such as police and fire protection, recreation, planning, legal and administrative services- 39- CITY OF SWARD General Fund salance Sheet June 30, 1991 with coa:parative figures for 1990 Asests Cash and equity in central treasury Receivables: Taxes$ Personal property Less allowance for doubtful receivables Net personal property Real property sales Net taxes Accounts Less allowance for doubtful receivables Net accounts special assessments State of Alaska Accrued interest Total receivables Due from other funds Prepaid insurance 40- 1991 1990 2,074,275 4,62a 909 53,096 47,810 337 O94 31,257 16,002 16,553 7,987 4,272 27,236 20,774 51,225 41, 599 742,438 607,720 791364 66,286 663,074 541,434 250,200 361,919 288,394 241,692 83,209 51,530 1,33.6,102 1,238,174 508,695 578,328 1,093 1,660 S . f 92 5 6, 4! Schedule 1 Liabilities and Fund Balance 1991 1990 Liabilities Accounts payable $ 627,511 655,962 Salaries and wages payable 91,353 85,990 Annual leave payable 38,594 61,922 Accrued liabilities 109,887 118,815 funds held in trust 8,001 1,747 Due to other funds - 2,779,643 Deferred revenues 301,620 387,218 Total liabilities 1,176,966 4,091,297 Fund balance: Reserved for prepaid insurance 1,093 1,660 Unressrved: Designated for working capital needs 1,500,000 - Designated for Seward General Hospital loans 113,965 - Designated for subsequent year expenditures 3,241 Undesignated 1,124,900 2,350,114 Total fund balance 2,743,199 2,351,774 3,920,165 6,4,. 4 41- CITY of SIVARD General Fund Statsinent of Revenues, sxpeaditures, other Financing uses and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 Revenues Schedule 2 1991 1990 Taxes 2,293,728 2,312,297 Assessments 230,546 35,670 Licenses and permits 69,195 77,920 Intergovernmental 1,046,659 903,879 Charges for services 2,025,766 1,357,203 Fines and bails 13,059 15,539 Interest 410,593 330,434 Miscellaneous 95,077 161,314 Total revenues 6,184,622 5,194,056 Expendituress Currents General government 1,488,855 1,353,714 Public safety 1,584,821 1,359,214 Public works 608,287 550,255 Parks and recreation 449,119 357,802 Library 154,870 122,392 Debt service 362,260 154,574 Total expenditures 49648,212 3,897,951 Excess of revenues over expenditures 1,536,410 1,296,105 other financing uses - operating transfers to other funds 1,144,985) 5 18,474) excess of revenues over expenditures and other financing uses 391,425 777,631 Fund balance at beginning of year, as previously reported 2,351,774 3,706,222 Prior period adjustments 139,083) Fund balance at beginning of year, as restated 2,351,774 3,567,139 Residual equity transfers to other funds 1,992,996) Fund balance at end of year 110 2,351 42- Schedule 3 CITY OF SEWARB General Fund Statement of Revenues, Expa Wltur*a, Other financing Uses and Changes in Fund Balance - Budget and Actual Year ended dune 30, 1991 with comparative figures for 1990 Veri ante favorable 1990 ludo!t Actual unfavorable) actual Revenues: Taxes: Property S 410,636 409,663 973) 456,143 Sal *s 1,115.534 1,190,641 75,111 1,193,900 Payments in lieu of tax 666,211 679,292 13.081 629,517 Penally and interest 4 ,4QQ 14.1_2 O 22-M) Total taxes 2.232.381 2,293, 7 1 Assessments 55,000 230.516 175.546 33.470 Licenses and parmita: Building permits 56,000 26,160 29,840) 39,911 Taxi permits S00 456 44) 510 Animal control licenses 1.500 3,100 1,600 370 Automobile lic*nse commissions 70,000 37,394 7,394 34,614 Miscellaneous TTotal licenses and permits 91 1ntergovernmsntsl: State of Alaskan General revenue sharing 230.000 232,290 2,290 187,363 Municipal assistance 270,000 251,225 18,775) 226,674 Jett contract 260,000 260,000 260,420 Raw fish tax 200,000 283.900 83,900 207,732 Liquor tax 20,000 18,000 2,000) 19,250 Amusement tax Total intergovernmental 244 Charges for services: Administrative 770,236 1,221,995 451.759 650,844 Rants and leases 460,295 496,058 37,763 421.542 Copying charges 45,913 53,508 7,595 53,740 Television 3,000 331 2,469) 2,988 Police and fire contracts 49.134 51,010 1,876 53,634 Railroad surveillance 24,000 24,000 13,750 Bork orders 72,500 11.776 60.724) 8,121 LR eatton 156,876 144,709 12 167) 132 608 Other 10,000 13.110 9,353 Total charges for services 1.597."4 2.021.766 4-2-E.81-2 1.357.203 Fines and bails 25,000 13,058 11,942) 15,539 Interest 344.936 410,393 65,657 330,434 Mi see llansous: sale of equipment and gravel 10,000 19,417 9,417 40,563 Garbage contract 30,000 29,608 392) 30,136 Oil spill beach survey 70,000 Alaska Pacific University bonds 39,000 79,000 Oth *r Total 7.M 7.052 20.615 161.314miscellaneous55.0 Total revenues 5,364,671 6.184.622 819.951 5,194,056 Continued) 43- Schedule 3. Cont. CITY OF MAND Owwral Fund Ststt.~t of Rove t, Expenditures, Other Financing Uses and Chang" in Fund Balance - Budget and Actual, Continued General government services: Employe* benefits 68,500 66,404 variance 42,608 Utilities 66,600 Budget Actual favorable funfavoCakW 1990 actual Expenditures: 9,903 21838 42096) Supplies General government: 23,786 2,914 17,880 Doubtful accounts Mayor and councils 500 59,703 Other services and charges Total Salaries B 18,000 17,721 279 18,000 for Aye* benefits 3,006 21464 542 2,026 Aut ' 43,000 35,748 9,252 25,259 Lesat 175,000 139,663 35,335 187,168 suppllee 25,000 34,094 9,094) 27,671 Legislative representation 73,000 72,122 878 72,232 Other services and charges 37,142 39,242 2,100) 43,349 Capitol outlay Total mayor and council 2.50 Sal 2.442 City managers salaries 146,817 149,025 21208) 134,142 Empleye@ benefits 39,089 31,920 7,169 30,609 Supplies 2,500 3,531 11031) 3,980 0th *r services and charges 23,703 21,610 2109'4 10,810 capital outlay TTotal Total city manager 3,359 City clerk: sateries 112,031 110,207 1,824 83,040 Employee bonefits 27,051 27,787 736) 19,752 supplies 2,000 2,650 650) 3,903 Other services and charges 10,133 9,040 1,093 10,239 Capital outlay Total city clerk 2.00 1,251 74 6,613 Finance: Salaries 271,291 265,873 5,423 216,694 Employee benefits 72,784 68,781 4,003 46,961 Contracted services 24,190 21,516 21674 42,107 Supplies 18,000 18,152 152) 25,220 Other services and charges 45,268 34,039 11,229 32,890 CapitrToallfinance 44 9 016 Community devslopm t: Salaries 48,969 49,330 361) 41,576 Employee benefits 11,274 11,312 38) 11,025 Suppli*a 4,500 2,791 1,709 2,551 other services and charges 27,063 14,267 12,7% 12,831 Capital outlay 880) 7.716 Total community development 9 ; 75.6" General government services: Employe* benefits 68,500 66,404 2,096 42,608 Utilities 66,600 69,669 3,069) 66,696 1nsurence 12,741 9,903 21838 42096) Supplies 26,700 23,786 2,914 17,880 Doubtful accounts S00 500 59,703 Other services and charges Total 112,146 1 114,359 7 general government services a i 19 Total general government 1 5 1.488.8" 98.654 1353.714 Continued) 44- Schedule 3. Cont. CITY OF SEYARO General Fund ltatemant of Revenues, Expenditures, Other Financing User and Changes in Fund Balance - Budget and Actual, Continued 45- Variance favorable 1990 Must Actual unfavorablel actual Expenditures, continued: Public safetys a: Police: Solari S 576,144 569,216 6,928 502,487 Employes bonefIto 159,401 10,600 161,870 12,690 2,469) 2,090) 127,153 get supplies Other services and charges 66,380 4.2 72,183 5,903) 64,938 Capitol outlay Total police 816.800 x.31 824.n6 j,542) 7,976) 724,904 dailt start*@ 156,155 181,329 25,174) 164,690 Employee benefits 51,091 5,600 33,299 5,435 2,218) 16S 37,736 5,723 Supplies Other services and charges Capital outlay 43.564 3.600 2 6,501 17,063 4 1 Total jolt 260 =000 Animal controt: Salaries 25,783 22.1% 3,587 3,098 Employee benefits 8,659 2,350 7,283 1,2% 1,376 1,054 45 708 Supplies Other services and charges 8.441 10,389 1,94s) 3,568 Capieato alianimt. control 41J64 Fire: stories 101,914 28,002 101,856 28,410 5s 406) 87,398 22.095 Employs* benefits Supplies 19,885 22,333 2,445) 9,119 Other services and charges Capital outlay 32,460 44,257 38,448 0 S,98s) 1 29,873 35. 207 5 m'---2, Total f ire Volunteer traininss stipends 4,200 14,053 10.022 supplier Other services and charges 1 56.65 147 3. IM 4 14,882 Tout vetuntesr training 30.858 Emergency preparedness: 450 425 25 24 Supplies other services and charges 700 4 2.074 09 Total emergency preparedness 1.10 213 Engineer and utility monegert 106,497 89,459 17,038 90,100 Salaries Employes benefits 27,730 1,500 21,158 1,374 6,572 126 20,917 1,708 Supplies Other services and charges CapitaTotallaenlineer 17,599 15,735 1,864 11,389 126,143 9 and utility manoser Continued) 45- 4 Schedule_ . Cont. CITY OF SEYARO General Fund Statement of Revenues, Expenditures, Other Financing Uses and Changes in Fund salon* - SoMet and Actual, Continued Parks and recreations Park* and recreations Salaries Employee benef its Supplies Other services and charges Capital outlay Total parks and recreation 210,913 215,334 4,421) Var ante 41,380 313) 15,850 96,372 89,750 favorable 1990 392:605 ludest Actual unfavorebis2 actual Expenditures, continued: Other services and charges 9,275 11,659 2,584; Public safety, continued: Total ton center sullding inspectors Total parks and recreation 447.621 stories S 43,371 42,447 924 37,957 Employee benefits 13,552 11,946 116" 10,746 Supplies 450 231 1" 338 Other services and charges Inspector 839 3.368 6.672 55.713Totalbuilding Total public safety 1.603.416 1,364.621 16.397 1,119,214 Public works% Roads and strsates Salaries 175,763 153,147 22,616 151,490 Employee benefits 46,237 45,676 2,361 36,844 Supplies 41,250 35,6x3 5,567 22,266 Other services and charges T4,109 83,835 9,726) 84,275 Capital outlay 20,236 23,302 5,066) 10 Labor charged to Other aanLS 1„x, Total roads and strtree"tsto 364 City shops Salaries 94,425 63,493 30,932 76,426 Employee bsnefIta 24,281 17,886 6,475 21,097 supplies 4,000 8,474 41474) 5,148 other services and charges 39,981 48,397 6,416) 34,188 Capital outlay 436 436) Labor charged to other departments 1 10 ) Total city shop Municipal building% Salaries 30,579 25,434 5,145 25,646 Employee benefits 9,606 9,073 535 7,933 Supplies 4,000 8,263 4,263) 196 Other charges and services 69,973 79,656 9,663) 78,730 CspiteTo buildingallamanicipsl Total public works 655.342 608.287 A7.OS5 212,255 Parks and recreations Park* and recreations Salaries Employee benef its Supplies Other services and charges Capital outlay Total parks and recreation 210,913 215,334 4,421) 41,065 41,380 313) 15,850 96,372 89,750 2,952) 6,622 28,002 392,200 392:605 1,253 Teen centers salaries 30,647 30,242 40S Employee benefits 10,871 1,253 Supplies 4,000 3,630 370 Other services and charges 9,275 11,659 2,584; Capital outlay Total ton center Total parks and recreation 447.621 449,119 1.426) Cont Inued) Qc7 *LL r } ( 46- fs;7qe'' M2, 19,484 68,262 4 30,695 7,33 996 9,466 3.856 54,345 357.503 I CITY OF SEWARO General Fund Statement of Revenues, Expenditures, Other Financing Uses and Changes in Fund Balance - Budget and Actual, Continued V="?Ii>ll wM- M Total expenditures Excess of revenues over expenditures Other financing uses: Operating transfers to other funds: special Revenue Funds Capital Projects Funds Enterprise Funds Total other financing uses Excess (deficiency) of revenues over expenditures and other financing uses Fund balance sit beginning of year, as previously reported Prior period adjustments Fund balance sit beginning of year, as restated Residual equity transfers to other funds: Special Revenue funds Enterprise Finds Total residual equity transfers to other funds Fund balance at and of year 4.Z22. 4. Ml, 212 144J& 3. 897, "1 571.672 1.536.410 9". 1.296 -105 4,250) (4,250) - (41250) 424,86s) (424,x69) - - I.I - 14.9 1c51s.474) 3ss.290) 391.423 479.705 T".631 2,351,774 2,351,774 - 3,706,2Z2 1' 1 389,646 1,603 -350 1.992,496 S 1'7 2 7 2.351.774 47- Variance udert actual favorable unfavorable) 1990 actual Expenditures, continued: Library: stories S 93,979 83,512 10,467 73,997 Employee benefits 23,204 20,093 2,311 13,125 Supplies 3,051 3,759 703) 1,902 Other services and charges 36,205 33,452 753 27,577 Capital outlay Total library 11.100 167_943 7 Debt service: Principal 162,589 129,690 32,679 79,757 Interest Total debt service 331- 154.574 Total expenditures Excess of revenues over expenditures Other financing uses: Operating transfers to other funds: special Revenue Funds Capital Projects Funds Enterprise Funds Total other financing uses Excess (deficiency) of revenues over expenditures and other financing uses Fund balance sit beginning of year, as previously reported Prior period adjustments Fund balance sit beginning of year, as restated Residual equity transfers to other funds: Special Revenue funds Enterprise Finds Total residual equity transfers to other funds Fund balance at and of year 4.Z22. 4. Ml, 212 144J& 3. 897, "1 571.672 1.536.410 9". 1.296 -105 4,250) (4,250) - (41250) 424,86s) (424,x69) - - I.I - 14.9 1c51s.474) 3ss.290) 391.423 479.705 T".631 2,351,774 2,351,774 - 3,706,2Z2 1' 1 389,646 1,603 -350 1.992,496 S 1'7 2 7 2.351.774 47- SPtCIAL RsV=NOZ FUNDS Special Revenue Funds are used to account for expenditures associated with dedicated or restricted revenue sources. DARS Program - To account for funds received and expend- ed related to Drug Awareness Rehabilitation =ducation. summer Youth Rmployment /Training Program - To account for funds received and expended to provide short -term full or part -time work experience in a public or nonprofit private organization for Seward youth. Comprehensive Plan - To account for funds from the Kenai Peninsula Borough for the purpose of updating the City's comprehensive plan. Day Care Assistance - To account for the state- funded day care assistance grant program. Moneys are distri- buted directly to local day care providers. flood Disaster - To account for the repair and replace- ment of roads and other facilities damaged in October 1986 by typhoon Karmen and by the 1989 flood. Funding Is provided by the State of Alaska, the federal govern- ment and local sources. Spring Creek Correctional Center - To account for the City's administrative costs incurred in oversight of the construction of a maximum security correctional facility for the State of Alaska. Revenues are provided by the project trustee from an administrative budget within the construction fund of the facility. Police Fund - To account for costs incurred for certain police- related activities with moneys provided by the federal government and the State of Alaska. Prison Library - To account for state prison library grant funds. Public Library - To account for state public library grant funds. State Revenue Sharing - To account for the state revenue sharing received by the City on behalf of local health care and social service entities. All moneys in this fund are passed directly through to the subrecipients. 48- SPZCIAL R=YNNDS FDNDsi CONTXWUXD Litter Control - To account for the cost of a City - administered litter control program. Program employs local youth and is funded by a grant from the nonprofit Alaskans for Litter Prevention and Recycling. Oil Spill - To account March 24, 1989 oil spi Prince William Bound. were reimbursed to the Borough pursuant to an ixxon. for expenditures related to the L1 by the Bxxon Valdez in the xpenses through June 23, 1989 City through the Kenai Peninsula agreement between the Borough and enhancement Program - To account for the City's ongoing effort to enhance its downtown business district. Funds have been provided by City Council appropriation. Navy Boas Port - To account for the efforts of the City to develop a plan to induce the D.S. Navy to permanently station one or more vessels in Seward. Funding has been provided by City Council appropriation. City Signs - To account for funds expanded to construct appropriate signs for tourists who visit the City of Seward. 49- CITY Or SSWAID Special Rsysnus funds Combining Balance Sheet June 30, 1991 With comparative total for 1990 Assets cash Equity in central treasury federal grants receivable State of Alaska grants receivable Accounts receivable Less allowance for doubtful accounts receivable Not accounts receivable insurance receivable Liabilities and Fund Balances (Deficit1 Liabilities: Accounts payable Sid deposits Due to other funds Deferred revenue Total liabilities fund balances (deficit) 50- Summer Youth mployment/ DAR= Training Program Pm2ram S - - 3,864 - 3,917 3,864 3` 3,917 3,917 3,864 3,864 3j 9.17 Schedule 4 51- 1989 Spring Creek Comprehensive Day Care Flood Correctional Police Totals Plan Assistance Disaster Center Fund 1991 1990 17,180 17,180 1,922 35,051 40,837 52,521 59,002 62,919 12,181 7,038 19,219 29,209 129,251 2,755 126,496 72,440 1j922 12,181 33,051 7 0.318 76 62 140 155 280 117 1,691 12,181 6,016 22,114 542,199 35,051 1,02_2_ 76,182 112,255 118,219 12,181 35,051 7,038 76,182 134,369 662,226 1,922 5,786 381,560) 1,922 12,181 35,051 7,038 76,182 140,155 280,6666 51- CITY OF SEYARD Special Revenue Funds Combining Statement of Revenues, Expenditures, Other Financing sources (Uses) and Changes in Fund lateness (Deficits) Year ended June 30, 1991 with cooperative totals for 1990 Revenues: Fader &( grants State of Alaska grants Kenai Peninsula forough grants Local sources Miscellaneous Total revenues Expendituress Salaries Employee benefits Supplias Other services and chore" Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): operating transfers from other fund* Operating transfers to other funds Not other financing sources (uses) Excess (deficiency) of revenues and other financing sources over expenditures and other financing uses Fund balances (deficits) at beginning of year Residual equity transfers from other funds Residual equity transfers to other funds Fund balances at and of year Summer Youth Employment/ CARE Training Comprehensive Day Care Program Pj21LEN EW Assistance 11 - 3,917 - 70,944 250 - - - 70,Ps2 322 11278) 10 224 1,695 483 578 - 2,483 22 700 70,942 EM LM IM BUM 3.92x) 1.270) 10 322 11278) 10 3,542 3,200 (10) 5-tc 1989 Flood Dislater 10,728 3,324 14 ISO 22 13,880 Ww'PlA Spring Creek State Correctional Police Prison Publfc Revenue L Center yam i r r itbrarySharins 2,500 36,148 6,000 10,000 206,921 Eml Em 6,000 MR 2S4.9. 3,164 603 337 56 187 32,044 2,500 5,944 9,813 79,506 36 -148 4344 10.800 79.506 RUM Schedule 5 attar Oil Tatals 6,417 340,741 185,544 30,000 2,449 1,658 7,681 211,323 URI 1=01 42 2,040 161 8,703 74,995 165 11 1,025 6,847 244 17,460 17.888 1,486 201,440 384,259 232.628 122.21 70,453) 4,250 4,250 127.415) 144.45 T) 123.165) 140.207) 946) (210,660) 6,732 (170,215) 391,207 JL3.6700) 53- CITY OF SXWXRD Special Revenue runds DARZ Program Balance Sheet Jura 30, 1991 with comparative figures for 1990 Assets Equity in central treasury Fund Balance fund balance 54- Schedule b 1991 1990 3L: :Z42 3.6864 3,542 Schedule 7 CITY OF 32NM Special Revenue Funds DANZ Frogram Statement of Revenues, Expenditures, other Financing Sources and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 55- 1991 1990 Revenues from local sources 250 500 Expenditures: 195 sducation /training 2,288 2,106 Travel and subsistence 8 operating supplies 4, 695 4.178 1866 Total expenditures Deficiency of revenues over expenditures 3,928) 1,686) other financing sources - operating transfers from other funds 41250 4,250 Excess of revenues and other 322 2,564 financing sources over expenditures Fund balance at beginning of year 3,542 978 Fund balance at end of year S 3,864 j,4i 55- 1414a•1AU -I VI Special Revenue Funds Summer Youth Brdplaysient /Training 8rograsa Federal grant receivable Due to other funds Balance Sheet June 30, 1991 Assets Liabilities 56- Schedule 8 S 3: S 3.i.17 CITY OF SMIARD Spacial Revenue Funds Summer Youth Emiployment /Training Program Statement of Revenues, Expenditures and Changes in Fund Balance Revenues from federal sources Expenditures Salaries Employee benefits Advertising Office supplies Operating supplies Year ended June 30, 1991 Total expenditures Excess of revenues over expenditures Fund balance at beginning of year Fund balance at and of year 57- Schedule 9 3,917 3,188 224 27 46 437 31917 S - CITY OF Sxww Spacial Revenue funds Comprehensive Plan Balance Sheet June 30, 1991 with comparative figures for 1990 Assets Equity in central treasury Fund Balance Fund balance M-f:= Schedule 10 1991 1990 11:12 3,200 14a2 3,200 Schedule it CITY OF 5ZVARa Special Revenue funds Comprehensive Plan stat ems nt of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 1991 1990 Revenues from Kenai Peninsula Borough grants $ 30,000 Expendituress Trawl and subsistence - 831 Comsrunications - 16 Contract services 700 27,801 Office supplies 578 74 Total expenditures 1,278 28,722 sxcess (deficiency) of revenues over expenditures (1,278) 1,278 Fund balance at beginning of year 3r200 - Residual equity transfer from other funds 1,922 Fund balancer at end of year g .1A 9.2 2 3 59- CITY OF SWARD Special Revenue Funds Day Care Assistance Balance sheet June 30, 1991 with comparative figures for 1990 Assets Grant receivable from State of Alaska Liabilities and Fund Balance (Deficit) Due to other funds Fund balance (deficit) 60- Schedule 12 1991 1990 M AI 15,294 12,181 15,304 10) 1 CITY OT SzNUD Special Revenue Funds Day Care Assistance Statement of Revenues, expenditures and Changes in Fund Balance (Deficit) Year ended June 30, 1991 with comparative figures for 1990 Revenues t State of Alaska grant Miscellaneous Total revenues Expenditures - contracted services lxcess (deficiency) of revenues over expenditures Fund balance (deficit) at beginning of year Fund balance (deficit) at end of year 61- 1991 Schedule 13 1990 S 70,944 72,252 8 70,952 72,252 70,942 73,742 10 (1,490) 110) 114.60 0 ) CITY OF SWARD Special Revenue Funds 1989 Flood Disaster Balance 8hest June 30, 1991 with comparative tigumm for 1990 Assets 3quity in central treasury Liabilities Deferred revenue 62- Schedale 14 1991 1990 S 3 5. 45. 779 S 3 U&M CITY Of Sm udko Special Wmenue Funds 1989 Flood Disaster Statement of Revenues, Expenditures and changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 Schedule 15 1991 1990 Revenues s State of Alaska grant 10,728 41,421 Interest 3,324 1,745 Total revenues 14,052 431„66 upendituress Salaries 150 246 Rmployse benefits 22 Travel and subsistence 95) communications 15 Other special services 6,039 Contract services 14,173 Equipment rental 7,620 Labor from other departments 11,526 Capital outlay 3,642 Operating supplies 13,880 Total expenditures 14,052 43,166 Excess of revenues over expenditures Fund balance at beginning of year Fund balance at and of year 63- CITY OF SIMARD Spacial Revenue Fund* Spring Croak Correctional Center Balance shoot June 30, 1991 with ccoparative figures for 1990 As... ets State of Alaska grants receivable Liabilities Bid deposits Due to other funds Deferred revenue 64- Schedule 16 1991 1990 S 7L 5, : 1,691 6,016 55,519 1,022 57, E Schedule 17 CITY OF SWARD Special Revenue funds Spring Creek Correctional Center Statement of Revenues, Upenditures and Changes in Fund Balance Year ended June 30, 1991 with costparative figures for 1990 Fund balance at beginning of year Fund balance at end of year 65- 4,379 1991 1990 Revenues from State of Alaska 36,148 63,000 lxpendituresi Salaries 3,164 7,706 ftployes benefits 603 456 Advertising 122 Travel and subsistence 165 476 Communications 11 SO Legal 9,904 2,940 other special services 2,744 16,158 Kaintenance and repairs 542 4,758 Contractor services 18,556 22,634 Supplies 337 12,201 Total expenditures 36,148 67,379 Deficiency of revenues over expenditures 4,379) Fund balance at beginning of year Fund balance at end of year 65- 4,379 Schedule 18 CITY OF SZWARP Special Revenue Funds Polio Fund Balance Sheet June 30, 1991 Assets Cash $ 17,180 Federal grants receivable 59,002 761182 Liabilities Deterred revenue 3 76 66- Schedule 19 CITY OF SxNw D Special Revenue Funds Police Fund Statement of Revenues, =xpenditures and Changes in Fund Balance Year ended June 30, 1991 Revenues from federal grant ; 2,500 Rxpenditures - other services and charges 2,500 Bxcess of revenues over expenditures - Fund balance at beginning of year Fund balance at end of year 67- i Schedule 20 CITY OF SWARD Spacial Revenue Funds Prison Library Statement of Revenues, Expenditures and Chanqes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 1991 1990 Revenues from State of Alaska grant S 6.000 4,000 Expenditures Librarys Materials - other Books Periodicals Stand order operating supplies Total expenditures Excess of revenues over expenditures Fund balance at beginning of year Fund balance at and of year 68- 663 3,775 600 3,169 1,018 96 56 1,623 61000 4,000 CITY OF SZWA1W Special Revenue Funds Public Library Stat emsAt of Revenues, expenditures and Changes in Lund Balance Year ended June 30, 1991 with comparative figures for 1990 Revenues from State of Alaska grant expenditures: Subscriptions and dues education and training Library a Monprint materials Katarials - other Boole Periodicals Staad order Operating supplies Total expenditures excess of revenues over expenditures Fund balance at beginning of year Fund balance at end of year 69- Schedule 21 1991 1990 S 10,000 10,000 512 131 145 1,000 3,301 6,332 4,541 561 36 1,769 1,364 187 101 10,000 10,000 CITY OF SHARD Spacial Revenue Funds State Revenue Sharing Statement of Revenues, Xxpenditures, Other Financing Uses and Changes in Fund Balance Xfiar ended June 30, 1991 with comparative figures for 1990 Revenues from State of Alaska zxpenditurese Contributionse Seward Life Action Council Weslyan Total expenditures Yxcess of revenues over expenditures other financing uses - operating transfers to other funds access of revenues over expenditures and other financing uses Fund balance at beginning of year Fund balance at and of year 70- Schedule 22 1991 1990 206,921 210,871 12,231 8,477 67,2,75 69,937 7_ 9,506 78,414 127,415 132,457 117,415 132,457 CITY OF Sz"M Special Revenue Funds Litter Control Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1991 With comparative figures for 1990 1991 1990 Revenues from lLpAR grant S 2,449 Expenditures: 2,040 .040 Employes benefits 244244 operating supplies 333 Project overhead 3,159 Capital outlay Total expenditures 2,449 3,491 Deficiency of revenues over expenditures 991) Fund balance at beginning of year 991 Fund balance at end of year 71- Accounts receivable Due to other funds CITY or MUD Special Revenue Funds Oil Spill Balance Sheet June 30, 1991 with comparative figures for 1990 Assets Liabilities 72- Schedule 24 1^_m 1990 s 32,687 32,687 Schedule 25 CITY OF SZWARD Special Revenue Funds Oil spill Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 1991 1990 Revenues from local sources S 1,658 143,_578 Expenditures: Salaries 161 46,109 Employee benefits 11 11801 Advertising 3,738 Travel and subsistence 2,812 Communications 225 Legal 1,486 49,119 Other special services 2,639 contract services 53 Office supplies 273 operating supplies 2,034) Labor from other departments 13,224 Labor to other departments 2,766) Project overhead 28,259 Promotion 126 Total expenditures 1,658 143,578 Excess of revenues over expenditures Fund balance at beginning of year Fund balance at and of year 73- CITY OF S=HARD Special Revenue funds Oil Spill Polio Balance Shoot June 30, 1991 with ccmparative figures for 1990 Assets Grants receivable from State of Alaska Liabilities Due to other funds CIE Schedule 26 1991 1990 s 1,.31.915 CITY OF SWARD Special Revenue Funds Oil spill Police statement of Revenues, Expenditures, Other Financing Uses and Changes in Fund Balance Year ended .Tune 30, 1991 with comparative figures for 1990 Revenues from State of Alaska grant Expenditurast salaries Rmployse benefits Travel and subsistence Maintenance and repairs Operating supplies Miscellaneous expense capital outlay Total expenditures sxcess of revenues over expenditures Other financing uses - operating transfers to other funds excess of revenues over expenditures and other financing uses Fund balance at beginning of year Fund balance at and of year 75- Schedule 27 1991 1990 47,042 18,897 4,547 261 110 4,591 105 6,531 35,042 12,000 12,000) schedule 26 CITY OF SXWARD Special Revenue Funds Rnhanceeent Programs statesent of changes in Fund eaiance Year ended June 30, 1991 with comparative figures for 1990 1. 91 1990 Fund balance at beginning of year S - 1,922 Residual equity transfer to other funds - (1,922) Fund balance at and of year 76- CITY Of SZWARD Spacial Revenue Funds Navy Roma Port Statment of Changan in lurid Balance Year ended June 30, 1991 with comparative figure@ for 1990 Fund balance at beginning of year Residual equity transfer to other funds Fund balance at end of year 77- Schedule 29 1991 1990 1,678 Z (1,678) CITY OF SZWAM Special Retinue Funds City signs Statem t of sxpwtditures and Changes in Fund Balance Year ended June 30, 1991 with ca"Wative figures for 1990 Expenditureso Schedule 30 1991 1990 salaries S - 2,037 Zmployee benefits 43 Other special services 300 Maintenance and repairs 298 Contract services 3,007' Operating supplies 979 xquipment rental 211 Miscellaneous expense 725 Total expenditures 7,600 Fund balance at beginning of year 7,600 Fund balance at and of year 78- a: Special Revenue Funds 1986 Flood Disaster statement of Revenues and Changes in Fund Balance (Deficit) Year ended June 30, 1991 with comparative figures for 1990 Revenues from state of Alaska grant Fund balance (deficit) at beginning of year Residual equity transfer from other funds Fund balance at and of year 79- schedule 31 1991 1990 200,042) 189,243) 389,283 CAPITAL PROJBCTS FUNDS Capital Projects Funds are established to account for the resources expended to acquire assets of a relatively permanent nature. These funds evolved from the need for special accounting for bond proceeds, grants and contributions for the acquisition of capital assets. Capital Projects Funds provide a formal mechanism which enables administrators to ensure that revenues dedicated to a certain purpose are used only for that purpose, and further enables thou to report to creditors and other grantors of Capital Projects fund revenue that their requirements regarding the use of the revenue were fully atisfieds Senior Citizens Center - To account for the acquisition of a combination senior citizens and community center. Financing is provided by grants from the State of Alaska and the proceeds of a 1987 $450,000 City of Seward General Obligation Bond issue. streets and Sidewalks - To account for the proceeds of a bond issue for construction of streets and sidewalks. Municipal Building Capital Improvements - To account for the costs to redecorate the finance office in City Hall. Handicapped Access - To account for structural modifica- tions to the City's administrative building to permit better access and use by disabled persons. Financing is provided by a grant from the State of Alaska. Library Handicapped Access - To account for construction of a handicapped access to the Seward Community Library. Funds have been provided by the General Fund, although funds are being sought through a state matching grant. Jail Sprinkler - To account for the construction of a sprinkler and smoke detection system in the Seward Correction Center. Funds were provided through a state Jail contract. Lowell Creek Bridge - To account for placement and construction of a bridge at Lowell Creek Falls. Funding was provided from a state grant. Library Renovation - To account for a State of Alaska grant for renovation of the library. 80- CAPITAL PROJZCTQ FUNDS Seward Marino Industrial Canter Civil Bapansion - To account for construction of the Marina Industrial Center. The currant projects involve the installation of a ship transfer system designed to move large vessels from the City's 3,600 dead - weight ton syncrolift to privately operated vessel repair stations. funding is provided by a combination of federal, state and local contributions. Lowell Canyon funds provided repairs to the Seward General state grant to Seward General runnel - To account for local and state to the U.B. Corps of Bngine•rs for Lowell Canyon Tunnel. Hospital Equipment - To account for a purchase various hospital equipment for Hospital. Railroad Depot - To account for construction of a covered enclosure for Alaska Railroad passengers at the railroad passenger terminal in Seward. funds for construction material were provided by the Alaska Railroad and labor was provided by Alaska vocational Technical Center students. SMIC Claim Contingency - To account for various construction claims for construction of the Marine Industrial Center. SMIC Rails and Cradles - To account for construction of the rails and cradles system in the Marine Industrial Center which is designed to move large vessels from the City's 3,600 dead - weight ton syncrolift to privately operated vessel repair stations. Funding is provided by a combination of federal, state and local contributions. Radio Translator - To account for a state grant passed through the City to Puffin Public Broadcasting, Inc. for the purpose of constructing a radio translator. 81- CITY OF sxmm Capital Projects funds Combininq Balance Sheet June 30, 1991 with comparative totals for 1990 Senior Streets Citi :ens and Assets Center Sidewalks squity in central treasury 3,829 551,570StateofAlaskagrantsreceivable 3 L511.570 Liabilities and Fund Balances Liabilitiess Accounts payable Due to other funds Deferred revenue Total liabilities Fund balances 33 829 551,570 1829 551 82- schedule 32 Municipal 12,282 13,036 13,008 Building Library 11546 Lowell 21,153 Capital Handicapped Handicapped Jail Creek Totals Iaalirovements Access Access Wrinkler Br_ idge 1991 1990 32,810 - 13,335 21,153 622,697 1,739,874 854 12,282 13,136 1.3_,108 32,810 854 13,_3355 21,153 17,282 635,833 1 75298 Z 10,000 754 12,282 13,036 13,008 21,153 21,153 11546 754 21,153 12,282 34,189 24,554 32,810 100 1,3336 m 601,644 1,728,428 32,810 854 13,335 21,153ZILI... 12,282 635,833 1,752,9826 83- CITY OF REWARD Capitol Projects Funds Combining Statement of Revenues, Expenditures, Other Financing sources and Changes in Fund Balances Year ended dune 30, 1991 with comparative totals for 1990 Revenues: State of Alaska grant Local sources Total revenues Expenditures: Salarles Employee banefito Engineering Contracted services Supplies Other services and charges Capital outlay Total expenditures Deficiency of revenues over expenditures other financing sources: Bond proceeds Operating transfers from other funds Totat other financing sources Excess (deficiency) of revenues and other financing sources over expenditures Fund balances at beginning of year Residual equity transfers from other funds Residual equity transfers to other funds Fund balances at and of year 124,521 Municipal 1,039) (1,158,615) senior streets Building 100 Citlteno Cantor and Capital sidewalks ImoroyMt* Handicapped assess s - 7,390 mot 173 5,491 - 27 86,740 1,17'6,437 - 6,500 835 639 218,517 Dili 124,521 1,039) (1,158,615) 32,610 - 4,668 1,710,385 100 84— Schedule 33 13,335 - - - (13,075) - (1,126,784) 1,730,070 13,075 1,726,428 29,016 59,342 24,004) 85- Sward Narine industrial Library Lowell Center Lowell Mandlcgvw jail Creek Library Civil Canyon Totsts Access sprinkm grig! ganovation INNgLUffi junnot 1 3,343 270,594 2,734 369,547 653,663 365,092 2,578 an.4ra 369.54 10, 4.311 165,092 552 6,216 3,945 97 1,210 447 88,740 45,556 288,137 1,735 12,975 423, TO 1,8x9,533 78,317 2,043 3,768 2,265 2,843 1,049 100 223,148 134,738 M42M49 I ILA 149,409 417.67 13.075) 54.202) 1.551.852) 52.583) 1,777,644 5 T424.868 2,653 13,335 - - - (13,075) - (1,126,784) 1,730,070 13,075 1,726,428 29,016 59,342 24,004) 85- CITr OF Mm Capital Projects Funds Senior Citizens Center Balance Sheet June 30, 1991 with comparative figures for 1990 Asps Squity in central treasury Liabilities and Fund Balance Liabilities - accounts payable rued balance 86- Schedule 34 1991 1990 3j„8„ 9 1 10,000 3,829 4,668 3j 829 1..18:6 CITI OF SzNmW Capital projects Funds Senior Citizens Canter Statement of sxpanditures and Changes in Fund Balance Year ended June 30, 1991 with cam Wative figures for 1990 Zxpendituress Salaries employes benefits Contracted services supplies Other services and charges Total ezpenditures Fund balance at beginning of year Fund balance at and of year 87- Sahadule 35 1991 1990 173 - 27 - 668 376 839 53,081 1,039 54,125 4,868 58,993 s j 2944 C1T!f OP SZWARD Capital Projects funds Streets and Sidewalks Balance sheet June 30, 1991 with comparative figures foe 1990 Squity in central treasury Fund balance Assets Fund Balance as- Schedule 36 1991 1990 L.7051 16710 a 551L570 1,710,3135 CiTZ Of 8E1aw Capital Projects Fund. Streets and Sidewalks Statement of Revenues, Expenditures, Other financing Sources and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 Revenues frow local sources Expendituress Salaries Zoployee benefits Engineering contracted services Supplies Other services and charges Capital outlay Total expenditures Deficiency of revenues over expenditures Other financing sources: Bond proceeds Operating transfers from other funds Total other financing sources Excess (deficiency) of revaa:es and other financing sources over expenditures Fund balance at beginning of year Fund balance at and of year 89- Schedule 37 1991 1990 7,770 5,491 2,195 1,086 447 88,740 48,556 1,176, 437 230 835 596 218,517 9,435 5,800 11491,106 67,259 1,483,336) 5k 7,259) 1,777,644 324,521 - 324t_521 1,777,644 1,158,815) 1,710,385 1,710,385 - S 5 S 1,71 echodule 38 CITY OF SXWARD Capital Projects Funds Kunicipal Building Capital loprovaraeats Balance Skeet June 30, 1991 Asset• Bquity in central treasury $ 3Z0 Fund Balance Fund balance $ 32,810 90- Schedule 39 CITY OF SZIIARD Capital Projects !Funds Kunicipal Building Capital improvements Statement of other Financing Sources and Changes in Fund Balance Year ended June 30, 1991 Other financing sources - operating transfers from other funds $ 32,810 Fund balance at beginning of year Fund balance at and of year 91- 32,81.0 CiTr OF sENAM Capital Projects Funds Handicapped Access Balance Sheet June 30, 1991 with can par ative figures for 1990 Assets State of Alaska grant receivable Liabilities and Fund Balance Liabilities - due to other funds Fund balance 92- SChedule 40 1991 1990 22 754 2,405 100 100 6. CITY OF SWARD Capital Projects Funds Handicapped Access Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 Revenues from State of Alaska grants Expenditures: Salaries Contracted services Supplies Other services and charges Total expenditures Excess of revenues over expenditures Fund balance at beginning of year Fund balance at and of year 93- Schedule 41 1991 1990 7,390 92,0037 1,750 6,500 77,419 890 1,288 11,580 74 390 92,037 100 100 00 0 iquity in central treasury fund balance CITY OF Ss11 m Capital Projects funds Library Handicapped Access Balance ghost June 30, 1991 Assets Fund Balance 94- Schedule 42 S 13.A 3 3 5 13 Schedule 43 CITY OF SZVARD Capital Projects Funds Library Handicapped Access Statement of Other Financing Sources and Changes in Tuna Balance Year ended June 30, 1991 Other financing sources - operating transfers from other funds $ 13,335 Fund balance at beginning of year - Fund balance at end of year 95- S 13 Xquity in central treasury Deferred revenue CITY OF SWARD Capital Projects Funds Jail Sprinkler Balance Sheet June 30, 1991 Assets Liabilities 96- Schedule 44 S31i13 21,153 Schedule 45 CITY or szmm Capital projects funds Jail Sprinkler Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1991 Revenues from State of Alaska grant* $ 3,348 Expenditures - capital outlay 3,348 Excess of revenues over expenditures - Fund balance at beginning of year Fund balance at end of year 97- CITY OF SXWAAD Capital Projects Funds State of Alaska grant receivable Due to other funds Lowell Crook Bridge Balance Sheet June 30, 1991 Assets Liabilities 98- Schedule 46 1r2` 112 Schedule 47 CITY OF SZWARD Capital Projects Funds Lowell Crack Bridge statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1991 Revenuese State of Alaska grants S 270,594 Local sources Interest 2,773 Other 105 Total revenues 273,472 Expenditures: Salaries 552 Employee benefits 97 Advertising 108 Travel and subsistence 16 Communications 19 Legal 45 Other special services 2,455 Contracted services 268,137 Supplies 2,043 Total expenditures 273,472 Excess of revenues over expenditures Fund balance at beginning of Year - Fund balance at and of year Ste: 99- CxT r or SEWMW Capital Projects rands Library Renovation Balance sheet Jun: 30, 1991 with comparative figures for 1990 Assets State of Alaska grant receivable Due to other funds Liabilities 100- 3cheduls 48 1991 1990 10A6 S : 100, §0r3r CITY or SWARD Capital Projects runds Library Renovation Statement of Revenues, Expenditures and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 Schedule 49 1991 1990 Revenue@ from State of Alaska grant $ 2,784 5 Upenditurese Contract services 1,735 Office supplies - 5 Other services and charges 1x049 - Total expenditures 2,784 5 Excess of revenues over expenditures ` Fund balance at beginning of year Fund balance at end of year 101- S Schedule 50 CITY Of SzWm Capital projects funds Seward xarins Industrial center, Civil Upansios Balance sheet June 30, 1991 with ccm W&tive figures for 1990 Assets 1991 1990 Cue from other funds 13 Fund Balance Tuna balance s .: 3: 102- CITY OF S=WARD Capital Projects Funds Seward Marine Industrial Center, Civil Expansion Statement of Revenues, Expenditures and changes in Fund Balance (Deficit) Year ended June 30, 1991 with comparative figures for 1990 Revenues from State of Alaska grant Expenditures: Contracted services Other services and charges Total expenditures Excess (deficiency) of revenues over expenditures Fund balance (deficit) at beginning of year Residual equity transfer to other funds Fund balance at and of year 103- Schedule 51 1991 1990 S - 130,796 12,975 - 100 34,894 13, 075 34,894 13,075) 95,902 13,075 (58,262) 2) 13,075 CITY Or SxW= Capital Projects Funds Lowell Canyon Tunnel Statement of Revenues, expenditures, Other Financiug sources and Changes in Fund Balance Year ended June 30, 1991 Revenues fraa State of Alaska grants expenditures - contract services Deficiency of revenues over expenditures other financing sources - operating transfers from other fins Sxasss of revenues and other financing sources over expenditures Fund balance at beginning of year Fund balance at end of year 104- Schedule 52 369,547 423,749 34,202) 54,202 CITY OF ORWARQ Capital Projects Funds Seward General Hospital Equipment Statement of Revenues, Rxpenditures, Other Financing Sources and Changes in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 Revenues from State of Alaska grant Expendituresr Other services and charges Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources - operating transfers from other funds Excess of revenues and other financing sources over expenditures Fund balance at beginning of year Fund balance at end of year 105- Schedule 53 1991 1990 S _ 140,000 1,400 143,609 145,009 5,009) 5.009 CITY OF awe= Capital Projects Funds Railroad Depot State ent of Changes in Fund Balance (Deficit) Year ended June 30, 1991 with comparative figures for 1990 Fund balance (deficit) at beginning of year Residual equity transfer from other funds Fund balance at end of year 106- Schedule 54 1991 1990 S - (361) 361 a- Schedule 55 CITY OF SzwM Capital Projects Funds Seward Marine Industrial Center, Claims Contingency Statement of Changes in Fund Balance Year ended June 30, 1991 with Comparative figures for 1990 1991 1990 Fund balance at beginning of year $ - 65,435 Residual equity transfer to other funds =1 ( 65,435) Fund balance at end of year S L 107- CITY Q! S=WARD Capital Projects Funds Seward Karin Industrial Center, Rails and Cradles Statemeat of Upeaditures and Changer in Fund Balance Year ended June 30, 1991 with comparative figures for 1990 lxpenditures - other services and charges Fund deficit at beginning of year Residual equity transfer frog other funds Fund balance at end of year 108- Schedule 56 1991 1990 S - 22,092 36,889) 58,981 CITY OF Saw)" Capital Projects lrunds Radio Translator Balance Sheet Tune 30, 1991 with comparative figures for 1990 Assets Equity in central treasury Liabilities Defected revenue 109- Schedule 57 1991 1990 S .165 46 s 1 CITY OF SsWhRD Capital projects Funds Radio Translator statment of Revenues, expenditures and Changes in lurid Balance Year ended June 30, 1991 with comparative figures for 1990 Schedule 58 1991 1990 Revenues free state of Alaska grant S - 2,254 expenditures - other services and charges _ 2,254 excess of revenues over expenditures Fund balance at beginning of year Fund balance at end of Year 110- THIS FAGS INTIMIOHA"Y Li1T BLhxs 111- CITY Of SEWARD Capital Projects Funds Projects to Date stateaient of Revenues, Expendituras, Other Financing Sources and Changes in Fund Balances 8esinning of projects through June 30, 1991 Total project authorization Revenues: state of Alaska grants Local sources Total revenues Expenditurest Construction Architect, engineering and other Land, buildings and equip ant Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources: Bond proceeds operating transfers from other funds Total other financing sources Excess of revenues and other financing sources over expenditures Fund balances at beginning of projects Residual equity transfers to other funds Fund balances at June 30, 1991 Municipal Son ior streets sullding Citizens and Capital Nandicapped center e Sidewalks N''ae Access si Zi i01t it ri" 413,377 1,176,667 528,511 375,898 3"829 3,829 551,570 iiz- f f II 32,810 144,377 83,919 60,458 100 schedule 59 113— toward Marine industrial Library Lowell Center Lowell Nandieapped Jail Creek Library Civil Canyon Asc;ess 7<'o``HALnLK ridd'uee Rennoovaatninon njffi Toml Total iIUM iu" i&= 3.1muo a= 4`e7_ 3,348 270,594 531557 1,224,000 369,547 2,532,526 6.00 4 268,137 53,062 944,609 423,749 3,443,520 S,33S 6,525 205,231 1, 152,255 E 30 -000) 24, S" 54_202) 01.606.303) 1, m, 644 am 30,000 54,202 454, 13,335 24,565 626,209 24.565) 24.565) iiiif www rr MUM" MMMMM" 113— sNTERPRiSE FUNDS Enterprise Funds are established to account for the financing of self- supporting activities of governmental units which render services to the general public on a user - charge basis. Enterprise Funds are maintained on the accrual basis of accountings slectric - To account for the provision of electrical service to the residents of the City and other areas within the electric service area. Water and hewer - To account for the provision of water and sewer services to the residents of the City. Harbor - To account for the provision of harbor and marine services to the public on Resurrection Say. Hospital - To account for the provision of medical services to the area surrounding Seward. Grain Terminal - To account for the acquisition and operation of a grain terminal acquired from the State of Alaska. 214- 5chedulo 60 CITY OF MAND Enterprise Fuwb Combining 8 aloe Wont June 30, 1991 with Cooperative totals for 1990 141word Water General Grain Totals UM" Electric and Smw ktdK Nospilgt Torwlrri 1I, 1990 Current oasts: Cash i - 200 a27 1,027 30,236 Equity in control treasury 2,541.09 38Z,306 2,924,14+5 999,248 Accounts racsiveble 581362 10,629 257,467 947,898 49.484 1,323,840 1,078,846 Leas alleence for doubtful rec vables 167-127 1fteitaccountsreceivable44F.- 1 Grants receivable 96,799 96,7+09 259,517 Insurance receivabls Inve*orias 379,940 36,364 115,450 10,101 563,855 72,440 550,059 Prepaid jQ7._612TotalOurrointasem Property, plant and equipment: Property, plant and equipment in eoyice 24,241,380 12,350,610 40,513,511 1.421,385 76,726,886 78,519,a48 Lass accuisulated depreciation 7.309.006 1111211 a 7.106.963 746.374 16.92D,475 11-441,44 Mat Property. plant and equipw* in service 16,7!x,374 8,991,483 33,407.548 675,006 59,806,411 62,076,039 Constnation wart in proems 1,998.614 2.296.M 1,296,08 Total property, plant and equipment 17.030.27Z OM40 62 675.E 62.101.923 63-F4.51 Deferred chorga 42.M 0 Fund s 9 a a* i s VAW jOd.1J4 Liabilities and_ Wdty Current liabilities: 44,924Motepsysbi* Current portion of bonds pepeble 291,000 92,000 71,713 454,7ab 410,61 5 Current portion of capital Leese obligations 36,458 4,056 33,373 73,887 69,588 Accents pmryable 344,712 10,000 354,712 423,718 Customer deposits 970379 97,379 119,475 Amer! leave F I k It Accrued liabilities payable 29,427 95,812 16,475 3,164 560599 40.505 131,295 1,833 102.501 272,612 2570947 Duo to other fads 20,255 367,013 43,948 42,329 473,545 459,a9S Deferred revenr Liabilities 1 1 1 164 914 1 1 1 Total aMTOW Long-term debt: lends payable, enludM/ currant portion 6.043,000 383,000 2,757,943 9.215,943 9,670,710 Capital Lesse oblWles, excluding arrant portion 9.2 jd 9.313..0;* 170.050 9.540,780debtTotes (orr-two debt 2.W Deferred pension credit 327.497 327,iff fund equity: Co tribune s in aid of construction 12,576,956 10,710,194 76,316,004 59,603,154 58,562,311 Lae accumulated some I ration 2.327.886 3.106m 6.0.2W 11 9.366.203 Met contribution in aid of construction 10,249,070 7.603,961 30,035.715 47,888,746 48,696,608 Retained rn 11, 413.0 9 4 5 810 t2a.986 MWIty iti 2 9 0 1 4 1= 9 r 66 bbi 115- CITY OF SEW ND FnteWlme Fend u o Wn(ng Statement of w wawa, EtkpNwes and Change@ in Retained Eamings Year ended Juw 30, 1991 with comparative totals for 1990 116- Water tnmtd rawI Grain Electric and Seer dK mital Terinsl im ff operating revenuaas sales: Residential S 1,428,316 433.654 1,861,970 1,752,791 Commercial 1,471,375 184,904 1,656.Z77 1,671,410 Industrial 213,379 110,252 323,631 2x1,224 am newttal 1,069,726 1",300 1,229,026 1,179,075 City of Saurd 454,702 61,355 516,057 475,622 Moorage 878,7!9 878,750 693,017 Wharfage 202,812 202,812 196,017 City dock foes 72,116 72,118 153,790 Boat lift fans 275.133 275,133 253,204 Power sat" 1281261 121,261 146,320 Patient service rwmmn. net 1,90,754 1,90,754 1,862,556 MlocellTwamus 91,519 6,034 173,379 40, 311, AMZH operating rwm wg Operating sspmnssst Before depree:latim Pour 1.870,408 1,870,401 1,575,50 Olstribotian 331,753 193.070 5>f4,823 525,375 Puping 101,376 101.374 85,562 Salaries and bum Its 547,A2 1,579.801 2.017,340 2,114,630 40I" and =I Itatrmtea 8,9r 112.407 219.390 410.711E 382.087 Adainlstratian std epreciTotaltafor+a depreciation um 7.875. operating income (team) befw depreciation 1,146,44 129,320 197,531 599,07, 44) 12,674) 861,547 1,616,584 Oeprocla ating income (loos) 3 djAl) M.574) Ro+opentime revenues (mveness)t Interest income 66,916 4,18= 75,004 3,714 148,816 65,659 Interest mom" 482.311) 36,SS1) 211,310) 10,156) 110,3,33) 06.325) Restricted nw mm and Wwtts 11,361 11,369 140,730 Other 6,742 so, Mi Income (loss) before operating to mfara M2,M) M) 1,231,M) 599.8M iOMO 2,313 -1 ") 1 5 ) Operating transfers: From other fuss 99,40 143,480 519,316 15,000 843.269 658.681 To ocher funds S. ) Mat oprsting transfers 313i 93i i Not inwee (lo") 202,M) 174.309) 1,011,311) 10.4%) 6,010 1,469.814) 731,633) Amortization of contributions in aid of construction 442.701 370.D99 4021,035 1, Increase (daerease) in retained awnings 239,8.1 195,790 52.909) 10,484) 6,064 378.3u 997,622 Retained earnings (deficit) at beginning of year 1,173.18! 7?a,sto 2, %7.801 673,19! 617) 5,432,371 2,7",709 R"Idul equity transfers from other furls 1,861,047 Residual equity transfers to other fuda i,-w 522 .000) Retained earnings at and of year s LOM MM LILM 66 5.11 S j3Z 3 116- CITY OF gOUfD Enterprise Fula Combining Statement of Cub Flog vow srdtd Jos 30, 1941 Cash }loco frog gwatin activities: OPersting income (loss) Adjusbsrnts to reconcile apsrstirg Incame (loss) to net cash provided (wad) by operetIre activltiest Depreciation Deferred charpas Allowance for doubtful. receivables Charges In assets and liabilitisa which Increste (decrease) casks Decrease In accounts receivable Decrssea in Ir ntory Decrease in accounts paysbto Decrease in notes payable Increase in aaaaht leas payable Increase (decrease) in accrusd liabilities Increment in dos to otim folds Total adjustments pot cash provided Need) by aperating activities Cash flaw fro• nncapltal financing activities: Customer deposits Operating traders from other finis Other roupwat I no ame Met cash provided (uesd) by noncapital finning activities Cash flow from capital and rotated financing activities: Principal payments an tang -tone debt Interest psyaents an tang -tees debt Aaquisitlan of fixed assets Contributions in aid Deferred rues not capital provided Cum* a eoi>ml and retstsd financing activithe Cash flows from ihwsstUS aativltise - Into se. income Not increase (decrsaas) In cash std si*dty Cash and equity in central trow4m y at beginning of year Cash and equity in central treasury at end of yew Water I tIglric and Se weir guwrd Gum I Grain fiKbt Poaoitot Terminal Total 213.543 tt ".171) (IA025,40) (ffL M) (12.674) (1.750.123) 932,814 S7S,441 1,227,9!6 82,344 2,611,670 2,498 16,800) 14,307) 3,1100 1,780 M.M 321,254 364,S29 38,514) 51629) 46,917) 494,39) 26,562) 617,027) 10,925 2,631 17,322 30,1178 32,621) 134,934 87,319 44,924) 924) 29,42E 16,475 560594 9.046) 93,455 32) 111 12,19!! 1,000 13,260 Can 2.33 , jM 1.109.106 IIA.Sl IJZ.243 JUM) 18,714) 22,0%) 22,006) 95.40 6.742 143,400 5,9,395 Aff 15,000 114312111 22.0 aL.O 6) 142.711 143.400 JV.M 15.000 919.625 300,507) 114,743) 57,647) 31,420) 479.317) 4f6,94" 37,194) 20,56) 10,156) 79911169) 410,011) 144,413) 117,325" 37,1110) 1,479,625) 334,4111 1-40, M 066,041 1,200,722 1,60.-0 M.W 2?1.35 32*.M ) JMM) 47,614 MA" 4. MIR 73.004 N I'M,= 73) 41,147 37,20P) 1.094,6f11 MJ19J6 73 341, as 1.029.484 S 2'54 M LMIA 117— Schedule 63 CITY Or SZWM Enterprise runds Electric Balance Sheet June 30, 1991 with comparative figures for 1990 Assets 1991 1990 Current assets s Equity in central treasury S 2,541,839 646,016 Accounts receivable 58,362 19,848 Less allowance for doubtful receivables 7,785 1,985 Net accounts receivable 50,577 17,863 Inventory 379,940 390,865 Total current assets 2,972,356 1.054,744 Property, plant and equipments property. plant and equipment in service 24,241,380 24,245,739 Less accumulated depreciation 7,5099006 6,696,155 Net property, plant and equipment in service 16,732,374 17,549,584 construction work in progress 297,896 3,526 Total property, plant and equipment 17,030,272 17,553,110 120, 002,628 16,6 Liabilities and rand it Current liabilitiess Note payable 44,924 Current portion of bonds payable 291,000 267,000 Current portion of capital lease obligations 36,456 33,645 Customer deposits 97,379 119,475 Annual leave payable 29,427 Accrued liabilities payable 95,612 100,500 Deferred revenue 1,698,177 92,474 Total current liabilities 2,248,253 658,018 Long -term debts Bonds payable, excluding current portion 6,043,000 6,334,000 Capital lease obligations, excluding current portion 49,233 85,555 Total long -term debt 6,092,235 6,4194555 Fund equitys Contributions in aid of construction 12,576,956 12,242,275 Less accumulated amortisation 2,327,886 1,885,183 Net contributions in aid of construction 10,249,070 10,357,092 Retained earnings 1,413,070 1,173,189 Total fund equity 11,662,140 11530,281 20,002,628 19,607,854 118- Schedule 64 CITY OF Mam enterprise Funds lectric Statement of Revenues, expenses and Changes in Retained earnings Year ended June 30, 1991 with cosiparative figures for 1990 119- 1991 1990 Operating re anuess Salves Residential S 1,438,316 1,396,190 coimN rcial 1,471,373 1,486,009 Industrial 213,379 225,857 Covermeental 1,069,726 999,071 City of award 454,702 409,699 Macellaneous 91,519 116,603 Total operating revenues 4,729,015 4,633,429 Operating expenses: Before depreciations P p r 1,870,408 1,575,589 Distribution 331,753 362,408 Administration and general 1 380 ,410 1,243,371 Total before depreciation 3,582,571 3,181C368 Operating incow before depreciation 1,146,444 1,452,061 Depreciation 93 2,899 925,111 Operating income 213,545 5265950 Wonoperating revenues (expenses): Interest income 65,946 30,674 Interest expense 482,311) 53) 416,365) 476,149) Not incom (1046) 202,820) 50,801 Amortisation of contributions in aid of construction 442,701 433,293 Increase in retained earnings 239,881 484,094 Retained earnings at beginning of year 1,173,189 689,095 Retained earnings at and of year S 1, 4,..413 1,173 189 119- CITY OF SZVARD Eaterprise funds lectric Statement of Cash flows Year ended Juno 30, 1991 Cash flows from operating activities: operating income Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation Allowanco for doubtful accounts Changes in assets and liabilities which increase (decrease) cash$ Increase in accounts receivable Decrease in inventory Decrease in note payable Increase in annual leave payable Decrease in accrued liabilities payable Total adjustments Net cash provided by operating activities Cash flows from noncapital financing activities - customer deposits Cash flows from capital and related financing activities: Principal payments on long -term obligations Interest paymeate on long -term debt obligations Acquisition of fixed assets Increase in contributions in aid Deferred revenue Not cash provided by capital and related financing activities Cash flows from investing activities - interest income Not increase in cash and equity Cash and equity in central treasury at beginning of year Cash and equity in central treasury at and of year 2411im Schedule 65 S 213,545 932,899 5,800 38,514) 10,925 44,974) 29,417 152 895,561 1,109,106 fib) 300,507) 486,949) 410,061) 334,681 11605, 703 742.867 65,946 1,895,823 646.016 6 2,541,839 Schedule 66 CITT OF SXNARD enterprise Funds Water and sewer Balance Sheet June 30, 1991 with cosiparative figures for 1990 Assetssets 1991 1990 Current assets: 9quity in central treasury $ - 73 Accounts receivable 10,629 5,000 Less allowance for doubtful receivables 2,200 500 Net accounts receivable 8,429 X500 Inventory 58,354 60,995 Total current assets 66,793 65,568 Property, plant and equipments Property, plant and equipment in service 12,550,610 12,412,781 Less accumulated depreciation _3,559,127 3,192,222 Not property, plant and wpLy :ent 8,991,483 9,220.L559 9,058,276 9,286,127 Liabilities and Fund a it Current liabilities: Current portion of bonds payable 92,000 86,000 Current portion of capital lease obligations 4,056 3,743 Annual leave payable 16,475 - Accrued liabilities payable 3,164 3,693 Due to other funds 20,255 Total current liabilities .1350950 93,436 Long -terse debt: Bonds payable, excluding current portion 385,000 477,000 Capital lease obligations, excluding current portion 80765 12,821 Total long -term debt 393,765 489,821 Fund equity: Contributions in aid of construction 10,710,194 10,710,194 Less accumulated amortization 3.1061233 21736,134 Net contributions in aid of construction 7,603,961 7,974,060 Retained earnings 924,0600 728,810 Total fund equity 8,528,561 8,702,870 9,0 9,286,127 121- Schedule 67 CITY OF SZNARD Rnterprise Tunds water and Sewer Statement of Revenues, Upenses and Changes in Retained sarnings (Deficit) Year ended June 30, 1991 with comparative figures for 1,990 Depreciation Operating loss Nonoperating revenues (expenses): Interest inc=n Interest expense Other Loss before Operating transfers Operating transfers from other funds met loss Amortization of contributions in aid of construction Increase in retained earnings Retained earnings (deficit) at beginning of year Residual equity transfer from other funds Retained earnings at end of year 122- 373,491 371,462 244,171} (122,173) 4,182 Soo 36,551) (153,269) 6,742 5,796 25,627) (148,973) 269,796) (271,146) 9s,489 1991 1990 Operating revenues: 370,099 370,09S Sales: 98,949 728,810 Residential S 433,654 356,605 Commercial 184,904 185,401 Industrial 110,252 53,367 covey ntal 159,300 180,004 City of Seward 61,355 63,923 Miscellaneous 6,034 9t638 Total operating revenues 955,499 8 138 Operating expensee: Before depreciation: Distribution 193,070 162,967 pumper 101,374 85,562 Supplies and maintenance 8,988 9,494 Administration and general 522,747 343,826 Total before depreciation 826,179 601,849 operating income before depreciation 129,320 249,289 Depreciation Operating loss Nonoperating revenues (expenses): Interest inc=n Interest expense Other Loss before Operating transfers Operating transfers from other funds met loss Amortization of contributions in aid of construction Increase in retained earnings Retained earnings (deficit) at beginning of year Residual equity transfer from other funds Retained earnings at end of year 122- 373,491 371,462 244,171} (122,173) 4,182 Soo 36,551) (153,269) 6,742 5,796 25,627) (148,973) 269,796) (271,146) 9s,489 174,309) 271,146) 370,099 370,09S 195,790 98,949 728,810 973,489) 1,603,350 924 Ma 68 CITY OF SMARD Enterprise funds Water and Sewer statement of Cash Plows Year ended June 30, 1991 Cash flows from operating activities: Operating loss Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation Allowance for doubtful accounts Changes in assets and liabilities which increase (decrease) cash: Increase in accounts receivable Decrease in inventory Increase in annual leave payable Decrease in accrued liabilities payable Increase in due to other funds Total adjustments Not cash provided by operating activities Cash flows from noncapital financing activities: Operating transfers from other funds Work order revenue Not cash provided by noncapital financing activities Cash flows from capital and related financing activities: Principal payments on long -term obligations Interest payments on long -term debt obligations Acquisition of fixed assets Not cash used by capital and related financing activities Cash flows from investing activities - interest income Not decrease in cash and equity Cash and equity in central treasury at beginning of year Cash and equity in central treasury at end of year 123- Schedule 68 244,171) 373,491 1,700 5,629) 2,631 16,475 119 20,255 409,042 164,871 95,489 6,742 102,231 89,743) 37,199) 144,415) 271,357) 4,182 73) 73 Schedule 69 CIT! OF 82MM enterprise Funds Harbor Balance sheet June 30, 1991 with comparative figures for 1990 Assets 1991 1990 Current assets: Equity in central treasury $ 362,306 341,159 Cash 200 00 Accounts receivable 137,467 21C 00 Less allowance for doubtful receivables 20,880 17,434 net accounts receivable 236,587 193,066 Insurance receivable 72,440 Grant receivable 964799 289,517 Total current assets 715Z8921 896,382 Property, plant and equipments Property, plant and equipment in service 40, 513, 511 40, 497, 763 Less accumulated depreciation 7,105,963 5,689,397 Not property, plant and equipment in service 33,407,548 34,608,366 Construction work in progress 1,998,614 1,292,952 Total property, plant and equipment 35,406,162 35,901,318 Deferred charges 42,380 44,873 36,1434 36,8 Liabilities and Fund j ity Current liabilities: Current portion of bonds payable 71,765 57,645 Accounts payable 192,168 Annual leave payable 56,599 Accrued liabilities parable 40,505 12,577 Due to other funds 367,013 474,774 Deferred revenue 72,440 Total current liabilities 535,882 759,604 Long -term debt - bonds able, excludingpayinq current portion 92 7s7 ,...e43 2,859,710 Fund squityi contributions in aid of construction 36,316,004 35,610,342 Less accumulated amortisation 61280,299 5,244,886 Net contributions in aid of construction 30,035,715 30,365,456 Retained earnings 2,804,894 2,857,803 Total fund equity 32,840,609 33,223,259 3636 1..,11664 434 36,842,571 124- CITY of SWARD interprise Funds Statement of U"nues, expenses and Changes in Retained iarnings Year ended June 30, 1991 with comparative figures for 1990 operating revenues: Schedule 70 1991 1990 Moorage 878,739 693,017 Wharfage 202,612 198,017 city dock fees 72,118 153,790 Boat lift fees 275,133 253,209 Power sales 128,268 146,320 Kiscellaneous 173,379 275,488 Total operating revenues 1,730,449 1,719,841 Operating expenses: Before depreciation: Salaries 374,516 376,681 Employes benefits 173,016 86,173 Supplies and maintenance 112,407 56,331 Administration and general 872,979 767,886 Total before depreciation 1,532,910 1,287,071 operating income before depreciation 197,531 432,770 Depreciation 1,222,936 11 021 7797 operating loss 1,025,405) 589,027) Nonoperating revenuers (expenses): Interest income Interest expense Other Loss before operating transfers operating transfers from other funds Net lose amortization of contributions in aid of construction Increase (decrease) in retained earnings Retained earnings at beginning of year Residual equity transfer from other funds Residual equity transfer to other funds Retained earnings at end of year 125- 75,004 33,977 281,310) (190,432) 1S,649 206,306) (14 _O,ao6) 1,231,711) (729,833) 143,400 1,088,311) (729,833) 1,035,402 52,909) 2,857,803 92867 196,034 2,629,072 257,697 225,000) S 2 , 80181 2,857,803 CITY OF SRWARD interprise Funds Harbor Statement of Cash Flows Year ended June 30, 1991 Cash flows from operating activitiess Operating loss Adjustments to reconcile operating lass to net cash provided by operating activitiess Depreciation Deferred charges Allowance for d m tful accounts Changes in assets and liabilities which increase (decrease) cash: Increase in accounts receivable Decrease in accounts payable Increase in annual leave payable Decrease in accrued liabilities payable Decrease in due to other funds Total adjustments Not cash provided by operating activities Cash flows from noncapital financing activities - operating transfers from other funds Cash flows frog capital and related financing activitiest Principal paysients on long -term obligations Interest payments on long -terse debt obligations Acquisition of fired assets Increase in contributions in aid Met cash used by capital and related financing activities Cash flows from investing activities - interest inaowe Not increase in cash and equity Cash and equity in central treasury at beginning of year Cash and equity in central treasury at end of year 126 - Schedule 71 1,025,405) 1,233,936 2,493 35,773 46,967) 52,630) 56,599 12,193 57,761) 1,172,648 147.243 143,400 57,647) 265,565) 867,329) 866,041 324,500) 75,004 41,147 341,359 S 382A .S06 CITY OF SZWARD Enterprise funds Seward General Hospital Balance Sheet June 30, 1991 with comparative figures for 1990 Assets current assetst cash Accounts receivable Less allowance for doubtful receivables Net accounts receivable Due from other funds Inventory Prepaid expenses Total current assets Property, plant and equipment in service Less accumulated depreciation Net property, plant and equipment Liabilities and Retained Earnings Current liabilities3 Current portion of capital lease obligations Accounts payable Accrued liabilities payable Due to other funds Total current liabilities Long -term capital lease obligations, excluding current portion Deferred pension credit Retained earnings 127- Schedule 72 1991 S 827 947,898 167 C 1-27 780,771 115,450 10,564 907,612 1,421,385 746,379 675,006 S 1.58 2161 8 33,373 344,712 131,298 43.948 553,331 39,081 327,497 662,709 5158 6 1990 38,036 820,576 217,906 602,670 12,000 118,098 25,238 796,042 1,363,565 664,035 699,530 1,4995, 32,200 221,550 140,344 12.314 406,408 71,674 344,297 673,193 1,495,572_ Schedule 73 CITY OF SWNARD enterprise Funds Seward General Sospital Statement of Revenues, expenses and Changes in Retained earnings Year ended J%,ne 30, 1991 with comparative figures for 1990 Operating transferal From other funds 589,393 647,765 To other funds - _ (5,009) Not operating transfers 589,394" 642,756 Not income (loss) (10,484) 219,162 Retained earnings at beginning of year 673,193 _ 454,031 Retained earnings at end of year g 662 709 673,193 128- 1991 1990 Operating revenuest Patient services 2,305,006 2,333,308 Less provision for contractual allowances and uncollectible accounts 3214254 350,752metpatientservices1,983,754 1,882,536 Other 40,826 888773 Total operating revenues 2,026,580 1,971,329 operating expenses Before dspreciationt Salaries and benefits 1,539,808 1,651,776 Supplies and maintenance 289,390 316,262 Administration and general 794,456 508,786 Total before depreciation 2,623,654 2,476,824 Operating loss before depreciation 599,074) SO5,495) Depreciation 821344 81,788 Operating lose X681,418) 587,283) monoperating revenues (enpenaes)t Interest expense 10,156) 15,801) Restricted revenues and grants 11,368 140,730 Other 80,329 38,760 01,541 163,689 Lose before operating transfers 599,877) 42 3,594) Operating transferal From other funds 589,393 647,765 To other funds - _ (5,009) Not operating transfers 589,394" 642,756 Not income (loss) (10,484) 219,162 Retained earnings at beginning of year 673,193 _ 454,031 Retained earnings at end of year g 662 709 673,193 128- CITY Or SWARD enterprise Funds Seward General Hospital Statement of Cash Moors Year ended June 30, 1991 Cash flows from operating activitisss Operating loss Adjustments to reconcile operating loss to net cash used in operating activitisss Depreciation Amortisation of deferred pension credit Provision for contractual allowances and uncollectible accounts Changes in assets and liabilities Increase in accounts receivable Decrease in inventories increase in accounts payable Decrease in accrued payroll and benefits Increa e in due to other funds Total adjustments not cash used in operating activities Cash flows from noncapital financing activitisss Operating transfers from other funds Other nonoperating revenue Net cash provided by noncapital financing activities Cash flows from capital and related financing activitisss Principal payments on long -term debt Interest payments on long -term debt Acquisition of fixed assets not cash provided by capital and related financing activities Not decrease in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at and of year 129- Schedule 74 681,418) 82,344 16,800) 321,254 499,355) 17,322 139,939 9,046) 26,857 62,515 618,903) 589,393 91,697 681,090 31,420) 10,156) 5{ 7,820) 99,396) 37,209) 38,036 CITY OF SzWMD Enterprise Funds Grain Terminal Balance Shoot June 30, 1991 with ccsq=&tive figures for 1990 Assets Accounts receivable Inventory Liabilities and Retained iarniags.{Deiicit) Current liabilitiess Accounts payable Accrued liabilities payable Due to other funds Total current liabilities Retained earnings (deficit) 130- Schedule 73 1991 1990 49,484 22,923 10,101 10,101 59 6505 33602333,023 10,000 10,000 1,833 833 43,329 22,807 54,142 33,640 5,423 (617) Lgi:8 L3 CITY OF SWARD Grain Terminal Statement of $xpenses and Changes in Retained =arnings (Deficit) Year ended June 30, 1991 with comparative figures for 1990 Operating expenses: Legal Rents and lease Miscellaneous Total operating expenses Nonoperating revenues - interest Loss before operating transfers Operating transfers from other funds Net income (loss) Retained earnings (deficit) at beginning of year Retained earnings (deficit) at and of year 131- Schedule 76 1991 1990 648 4,717 11,026 6,491 1,000 833 12,674 12,041 3,714 508 8,960) (11,533) 15,000 10,916_ 6,040 (617) 617) 5_ (617) CITY of 39NAM Enterprise Funds Grain Terminal Statement of Cash Flows Year ended June 34, 1991 Cash flows from operating activitiese operating loss Adjustments to reconcile operating loss to net cash used by operating activities: Changes in assets and liabilities which increase (decrease) cash: Decrease in accounts receivable increase in accrued liabilities payable increase in due to other funds Total adjustments Net cash used by operating activities Cash flows from noncapital financing activities - operating transfers from other funds Cash flows from investing activities - interest incoms Net increase in cash and equity Cash and equity in central treasury at beginning of year Cash and equity in central treasury at end of year 132- Schedule 77 12,674) 26,562) 1,000 19,522 6,040) 18,714) 15,000 3,714 FIDUCIARY FUND TYPR - AaNNCY FUND Deterred Compensation - This fund accounts for the portion of employee salaries which they have elected to deter under Section 457 of the Internal Revenue Code. The City retains title to such moneys until they are paid or made available to the employee by its agents, the ICMh Retirement Corporation, upon termination, retirement, death or unforeseeable financial emergency, 133- Schedule 78 CITY OT SiWAM Agency Fund Deferred Coaprnsation Statement of changes in Assets and Liabilities As...set! Restricted funds Liabilities Due to city employees Year ended June 30, 1991 Balance at 1. Balance at July 1, 1990 Additions Deletion June 30, 1991 1,066,616 206 .j.732 46,120 S 16086 61.8 al&2.32 4. 6 20 134- 1,247,230 1,Z47,Z30 GENERAL FIXED R88sT3 ACCOUNT GROUP The General Fixed Assets Account Group is established for con- trolling the City's sizeable investment in fixed assets, which are tangible assets of significant value having a lift which extends beyond one year. No depreciation is provided on such assets. This control also allows establishing custodial responsibility for the assets. The investment in fixed assets by the Enterprise Funds is accounted for in the Proprietary Fund Type - Agency Fund. 135- CITY OF Sn"m General Yixed Assets by Sources June 30, 1991 With cosiparative figures for 1990 General fixed assets$ Land and land rights Buildings Improvements other than buildings Equipment Construction work in progress Investment in general fixed assets$ Prior year data Capital Projects Funds and state grants General Fund rwenues Federal revenue sharing 136- Schedule 79 1991 1990 19,627,781 19,627,781 7,129,269 7,030,219 8,572,850 7,373,010 2,248,835 1,936,943 3,241.721 2.459.549 40.6 20,456 38a.42.7 19,300,198 19,300,198 16,187,566 14,208,946 5,217,217 4,902,883 15,473 15,475 40,820,466 38,427,502 Schedule 80 CITY OF Ss1A1RD General Fixed Assets Activity Year ended June 30, 1991 Transfers to 137- Balance at Znt *rprise Balance at Fixed asset tie July 1, 1990 Funds Additions Deletions Jun* 30, 1991 Land and land rights 19,627,781 19,627,781 Buildings 7,030,219 99,050 7,129,269 Improvements other than buildings 42,980,458 35,607,448 1,199,840 8,572,850 Equipment 1,936,943 381,262 69,370 2,248,835 Construction work In progress 2,459,549 2,071,899 1,289,727 3,241,721 74.034,950 r.,. 35,607,448 3 752,051 1,359,097 40,820,456 137- GsN=RAL LONG -TRRR DART ACCOUNT GROUP The General Long -term Debt Account Group records the unmatured principal of long -term general obligation bonds and the long -term portion of accrued annual leave payable from general revenues and backed by the lull faith and credit of the City. 138- CITT Of Sam= Statement of General Long -term Debt Jun* 30, 1991 with comparative figures for 1990 Amount to be Provided for the PjXmwntof General Long =term Debt Capital leases payable Bonds payable Accrued leave Retirement Incentive Program General Long -term Debt Payable Accrued leave 1990 bonds payable 1967 bonds payable capital lease payable Retirement Incentive Program 139- Schedule 81 1991 1990 503,049 586,509 2,225,292 2,237,645 254,308 206,518 36.730 24.739 340.191.3.79 3.0 254,308 206,518 1,600,000 1,800,000 423,292 437,645 503,049 586,509 36,730 24,739 3.0137 9 3,0 THIS PAO= INTUTIONALLY L=Fr BLANK 140- PART III STATISTICAL SECTION STATISTICAL TASLSS Statistical tables give report users a better historical perspective and assist in assessing currant financial status and trends. Statistical data is included for ten fiscal years. 141- CITY OF SEWARD GENERAL FUND EXPENDITURES BY FUNCTION LAST TEN FISCAL YEARS Fiscal General Public Public Parks and Debt Year Government Safetv Works Recreation Service Total 1982 Ifi§M22 5880 760 5433169 130.451 38038 3,144,517 1983 1,518W 1,259,195 595 28 184,971 119 3580.176 1984 1,353M 1.362.299 546 7 3112.34 9A81 3,583,590 1985 1,641,257 194 281 586 256AM 9r.5 44 4 088 73 1986 1475 15 1 989 542A57 M.159 10.188 S3,916,508 1987 1,414X7 1 31061 515,959 191,9%. 0 31454,003 1988 1 25 704 1 3 560 77 279 2 20 S3 5 19991 1,831,tSl 1 461 13 541.753 353199 49 51 S4 7 767 1990 1 tn4,M 1,359,214 550 5 357,802 154 74 S4 416 425 1991 L64 725 1 1 608 449119 362 S4 12 142- THIS PACs INTENTZONALLY Lz" sLIUM 143- CITY OF SEWARD GENERAL FUND REVENUES BY SOURCE LAST TEN FISCAL YEARS Liceaacs Charges Fiscal And Inter— for Fines and Year Taxes Permits Govermentai services Baik 1982 356.047 19.543 U46,732 SM9,112 11976 1983 346,153 65,621 1 788 2,558.494 17 1984 499,542 69,355 1274,009 1 73 12.027 1985 597 62 1,160,034 1 18 17 16,122 1986 799,563 187,393 798,506 2,693,839 9,152 1987 942,119 62.029 755182 956M 13,495 1988 1,318,434 1 605XB 1 710 14,465 1989 1,3M.769 132,059 939,397 739,101 26,729 1990 IA82,780 77ffM 903,879 935,661 15 39 1991 1,614,436 69195 1,LA§ffl9j 1,127,7081 13 058 144— Payment In Lieu Surplus of Tam CAI" 196.049 S3249 233.315 6,145 331.439 264,955 388 467 2.229 472.813 2.043 506 126 517,548 20.770 52sim 21.145 629.517 13,339 679.292 5.537 145- CITY OF SEWARD PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Ratio of Total Tax Delinquent Total Current Percent Delinquent Total Collections Outstanding Tarns As Fiscal Tax Tax of Levy Tax Tax Asa % Delinquent a % o[ Year Lew Collections Collected Cabectiona Co1le ions of Law Taus& Tnt2l Lew Source: Kenai Peninsula Borough 146- 199 729 83596 18 5356 7 114A96 1470E1 239 737 229177 95.696 7 419 98.7% 16 7.096 313,141 303 97.0% 43M 307997 96A% ISA40 6.096 1983 323,749 313 963% 4 2L8M 98.2% 54&8 16.8% 1986 571mo 536M9 93.8% 33U 539393 94.4% S 3 9.1% 1987 427J26 385J18 90.1% 1,764 367M 90.5% 123,259 28.896 1986 457.793 406= 88.896 63"._ 41 902% 125 27A% 1989 jMM 3apt 85.1% 37JD74 432A24 94.9% 100 78 22.096 1990 419395 387.531 92.6% M12 4AW7 116A% 4UM 11.6% 1991 463 743 1 413AM 1 89.2%1 5,731 419,M1 90396 6IA60 133% Source: Kenai Peninsula Borough 146- CITY OF SEWARD ASSESSIM AND BSTO[ATED ACTUAL. VALUE OF TAXABLE PROPERTY LAST TEN FLSCAL YEARS Rath of Total Real ProM ra-magghm2m Total PsopertSr Assessed Estimated Estimated Estimated to Total Fiscal Assessed Actual Assessed Actual Ames" AcuQ Estimated Year V Source: 'Alaska TmzmW, Stain of ALsb 147- mom I'1 1 MIMI= X11 Y ._IG ,IWI 1 1.. IIIMMII 11 1 it -•.1.1 1 s :f1 i fI s1 14M 1R : f 1 fi _ 1 I Y 1 r tX f 1 I Y •11 1_I Source: 'Alaska TmzmW, Stain of ALsb 147- CITY OF SEWARD PROPERTY TAX RATES — ALL OVERLAPPING GOVERNMENT'; PER $1,000 OF ASSESSED VALUE) Fiscal Seward City Year General Fund Anrnueh 'Tnrat 1982 7.00 1.75 8.75 1993 7.00 125 825 1964 5.00 2-50 7.50 1965 5.00 1.75 6.75 1986 5.00 1.75 6.75 1487 3.00 4.00 7.00 1988 3.00 5.75 8.75 1989 3.00 5.75 8.75 1990 3.00 5.75 8.75 19911 3.00 7.55 10-55 Source: City of Seward Kenai Peninsula Borough 148- CrrY OF SEWARD SPECIAL ASSESSMENT COLLECTIONS LAST TEN YEARS Curt+ent Curremt Fiscal Assessments Assessments Year Due Collections Ratio of Collections Total To Outstanding Amnunt nue Axxemxments 1982 17 In 166.23% 145,219 1983 17,563, 28542 16251% 110,676 1984 14MS AM 269.75% 76,679. 1985 17,146 Mw 11294% S57,315 1986 16.636 13 71 80.97% S=15 1987 14P6 1064 99.79% 5408 1988 48AN 4U18 85.75% 5366104 1989 55315 22.558 44.83% 376 1990 gfin 2&731 50.73% SW1,919 19911 28 111719 39134% 5250 149 CITY OF SEWARD RATIO OF GENERAL BONDED DEBT ASSESSED VALUE AND BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS Fiscal Asaesaed Year Population Value Ratio of Bonded Debt to Bonded Bonded Auened Debt Per Debt Value r2nim 1982 1 63 S3 10 5.12% f $ 1787 1983 1= 54,186AW 3jK2DW 5.63% 170 1984 1.871 78A9.000 2$74AW 3.64% 1.536 1985 81 7,682.000 9.44% 3,708 1986 2.293 134 44.000 7.395M 5.50% 3 1987 2,279 146 18 = 1 8,139AW 537% 3.571 1988 2.400 162MJM 10 635% 4,310 8989 2X9 149 730AW 10 6.71% 3,550 1990 2JW 117 9 AM 1 1,4"m 9.78% 4.045 1991 2AW 150 795 11 1 731%1 4 Source: State of AhWm Kenai Peninauh Bomuah 150- LEGAL DEBT MARGIN Juno 30,1991 No debt limit mandated by law. 161- CITY OF SEWARD COMPUTATION OF DIRECP AND OVERLAPPING BONDED DEBT Jame 30,1991 Peroentap (1) Amount Net Debt Applicable to Applicable to Jurisdiction Qmmiftl city of IMMEd CCy of Seward Kenai Peninsula Borough 51 m 4M% SSJM Total Overlapping Debt 11092A M $5330912 City of Seward =m 100.009 f, Total Direct Debt S=292 ' U=m Total Direct and Oredapping Debt =dfi= ILIUM 1)Based upon the ratio of City of Seward aaaaaad value (real and pewanal property) to toal amaaed vahn of the Kenai Peaioauia Borough. 2)Ezk ding general obNpd n bonds r+eportad is the Enterprise Fenda. 152- Doi 41! dr I" i :k', R, RATIO OF ANNUAL DEBT SERV'IC8 EXPEND] GENERAL BONDED DEW TO TOTAL GENERAL FUND LASF TEN FISCAL YEARS Fiscal Year Prindnal Interest FOR Ratio of Debt Service Total Total to Total Debt General GeWAII Service Emenditurea E nenditures r Room 111 1•: 1 K' FIKIII 153- CITY OF SEWARD PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS LAST TEN FISCAL VJFARS Co ardal Resideatbd Co>satroedoi Cowuxcwa Number Number Property Postal of of Bank Value Year Permits Value Permits Value Waga LOW MMFMI 1 11 ft; 1 1 1 Ioffm 1 1 I a 11 1 Molun 1 I© 1 M 1_1 11"M 1 11 I 1 ISM yam, 11 1 1 1 1 1 MNFMJ© I I11 11 00=© 1 V-A© 1 1 I ©- 1 I 1 1 1 I 1 1.1_1 to-III 03 I CITY OF SEWARD PRINCIPAL TAXPAYERS AM 30.1991 Percent 901 of Thal Atieaaed Amened Cha&Mk A1aeiCa PgM kwmifl "- -- 1Q T79 8.60% Seward Fiaborks Seafood 731&452 6.7596 Summl Abdo Cmv. Coal 7116M6 6.08% Oeseral Tolephome Co, of Alaata Teboommunicatim 1,93006 1.65% Afornk 1&ggigg I 733 1.42% Saward Mad= Satrkaa Sestood IM2 f 1.23% Nordmmm Sumadodu IA23.M 122% Broom im Hole m3at lam 1.16% I A&w Eats rises Rol FitaLa f 7qa 1.14% LN—aw Seward Haft[ I Hotd 1 09996 Ine was real and persaeal proporty Sow= Kenai Poodumla BwMO 155- CrrY OF SEWARD MISCELLANEOUS STATISTICS JUNE 30, 1991 Date of Incorporation Class Form of Government Area, Square Miles Miles of Street Number of Street Lights Population Fire Protection Number of Stations Number of Firefighters and Officers Number of Volunteers Fire Rating (ISO) Police Protection Number of Stations Number of Officers Education Attendance Centers Number of Students Number of Teachers Municipal Water Department Number of Consumers Average Daily Consumption Building Permits Issued Recreation and Culture Number of Parka Number of Libraries Number of Volumes Employees Classified Service Exempt Qualified Voters - June 1, 1912 Home Rule Council -- Manager 22 40.14 194 2,69'9