Document Belgrade_doc_7f201d1c71

STATE FINANCIAL SERVICES DIVISION LOCAL GOVERNMENT SERVICES BUREAU MONTANA ANNUAL FINANCIAL REPORT REVISED OCTOBER 2023/VERSION 23.2 City of Belgrade Mitchell Building Room 255, PO Box 200547, Helena, Montana 59620-0547 Local Government Services Bureau Portal ENTITY # 021601 PO Box 810 Belgrade MT 59714 FISCAL YEAR ENDING JUNE 30, 2025 ---PAGE BREAK--- City of Belgrade ANNUAL FINANCIAL REPORT TABLE OF CONTENTS FISCAL YEAR ENDING JUNE 30, 2025 Page No. INTRODUCTORY SECTION Letter of Transmittal 1 List of Elected and Appointed Officials - Signature 2 FINANCIAL SECTION Management's Discussion and Analysis 3-4 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position 5 Statement of Activities 6 Fund Financial Statements: Balance Sheet - Governmental Funds 7 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 8 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 9 Statement of Net Position - Proprietary Funds 10 Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Funds 11 Statement of Cash Flows - Proprietary Funds 12 Statement of Fiduciary Net Position -Fiduciary Funds 13 Statement of Changes in Fiduciary Net Position - Fiduciary Funds 14 Notes to the Financial Statements 15-36 Required Supplementary Information: Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund 37-38 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Major Special Revenue Funds 39-40 Other Post Employment Benefit Information 41-44 Other Supplementary Information: Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - Nonmajor Special Revenue Funds 45-58 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Special Revenue Funds 59-79 Combining Balance Sheet - Nonmajor Debt Service Funds 80 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Debt Service Funds 81-84 Combining Balance Sheet - Nonmajor Capital Projects Funds 85 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Capital Projects Funds 86-89 Combining Statement of Net Position - Internal Service Funds 90 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position - Internal Service Funds 91 Combining Statement of Cash Flows - Internal Service Funds 92 Schedule of Federal/State Grants, Entitlements and Shared Revenues 93 GENERAL INFORMATION SECTION General Information 94 ---PAGE BREAK--- INTRODUCTORY SECTION ---PAGE BREAK--- LETTER OF TRANSMITTAL City of Belgrade, Montana Annual Financial Report – Fiscal Year Ended June 30, 2025 To the Honorable Mayor and Members of the City Council City of Belgrade, Montana Dear Mayor and Council Members: It is my privilege to submit the Annual Financial Report of the City of Belgrade, Montana (the “City”) for the fiscal year ended June 30, 2025. This report has been prepared to present the financial position and results of operations of the City in accordance with generally accepted accounting principles (GAAP) and to comply with the financial reporting requirements established by the State of Montana, including the Annual Financial Report filing requirements under Montana Code Annotated (MCA) § 2-7-503. Management of the City is responsible for the accuracy, completeness, and fairness of the information presented in this report, including all disclosures. To the best of our knowledge and belief, the information included in this report is accurate in all material respects and is presented in a manner designed to fairly set forth the financial position and results of operations of the City. Management also maintains a comprehensive system of internal accounting controls designed to protect the City’s assets from loss, theft, or misuse, and to provide reasonable assurance that financial records are reliable for preparation of financial statements. The Annual Financial Report consists of three principal sections: the Introductory Section, which includes this Letter of Transmittal and a list of principal officials; the Financial Section, which includes the Management’s Discussion and Analysis, basic financial statements, required supplementary information, and notes to the financial statements; and the Statistical Section, which includes selected financial and demographic data. The report has been prepared, audited, and formatted consistent with best practices for local government financial reporting. During Fiscal Year 2025, the City continued to provide high-quality services to the residents of Belgrade while maintaining fiscal discipline. Highlights of the year include major asset improvement projects, finalization of the land swap with Belgrade School District #44, and a bond issuance for infrastructure improvements. These accomplishments reflect the commitment of City management and staff to sound fiscal management and responsive government. We trust this report will be informative and useful to the City Council, residents, investors, and others who have an interest in the financial affairs of the City. Questions concerning this report or requests for additional information may be directed to the Director of Financial Services, City of Belgrade, at 91 E Central Avenue, Belgrade, Montana 59714 or via telephone at [PHONE REDACTED]. Respectfully submitted, Charity VanKirk Executive Director of Financial Services City of Belgrade, Montana Neil Cardwell City Manager City of Belgrade, Montana Date: February 10, ---PAGE BREAK--- OFFICE CITY OFFICIALS/OFFICERS DATE TERM EXPIRES Mayor Russell Nelson 12/31/2025 Council member Michael Meis 12/31/2025 Council member Renae Mattimoe 12/31/2029 Council member Erin Bell 12/31/2027 Council member Kristine Menicucci 12/31/2029 Council member Jason Guffey 12/31/2029 Council member Jim Simon 12/31/2027 City manager Neil Cardwell Municipal court judge Christopher Gregory Assistant city manager Greg Tryon Attorney Kyla Murray Chief of police Dustin Lensing Executive director of financial services Charity VanKirk Director of community & economic development Katharine King Director of internal services Becky Wilbert Director of library services Alina Prunean Director of public works Camaree Uljua Clerk Camille Gregory Submitted by; Executive Director of Financial Services Title 2/10/2026 Date Preparer's contact information: Email: [EMAIL REDACTED] Phone: (406)388-3543 City of Belgrade ELECTED OFFICIALS/OFFICERS CONSISTENT WITH STATE LAW, I HEREBY TRANSMIT THE City of Belgrade ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDING JUNE 30, 2025 ---PAGE BREAK--- FINANCIAL SECTION ---PAGE BREAK--- MANAGEMENT'S DISCUSSION AND ANALYSIS ---PAGE BREAK--- Introduction Financial Highlights Government-wide Results: Overview of the Financial Statements Government-Wide Financial Analysis Fund Financial Analysis Governmental Funds: MANAGEMENT DISCUSSION & ANALYSIS The Management’s Discussion and Analysis (MD&A) provides an overview of the City of Belgrade’s financial performance during the fiscal year ended June 30, 2025, and should be read in conjunction with the financial statements and accompanying notes contained in this Annual Financial Report. This narrative is intended to enhance user understanding of the City’s financial activities, financial position, and key economic and fiscal trends. It focuses on significant changes, major fund results, liquidity, and long-term commitments under generally accepted accounting principles (GAAP) as publicized by the Governmental Accounting Standards Board. • Net Position: At year end, the City of Belgrade reported positive net position across governmental and business-type activity categories, reflecting continued fiscal stability. • Revenue Trends: Total revenues increased compared to the prior year, driven by charges for services, growth in licenses and permit fees, and federal and state distributions. Economic activity associated with population growth contributed to stronger collections and permit activity. • Expenditure Trends: Expenditures increased in line with expanded public services, infrastructure maintenance, and capital projects. Public works, public safety, and general government operations represent the largest expenditure categories. This MD&A accompanies the City’s Annual Financial Report, which consists of the following components: 1. Government-Wide Financial Statements – These statements provide a summary view of the City’s finances using accrual accounting and include the Statement of Net Position and Statement of Activities. 2. Fund Financial Statements – These focus on individual parts of the City’s operations, including governmental funds and proprietary (enterprise) funds such as utilities, using modified accrual and full accrual bases of accounting, respectively. 3. Notes to the Financial Statements – These provide essential disclosures and accounting policies. The Statement of Net Position reflects the City’s total assets, deferred outflows, liabilities, and deferred inflows, resulting in a strong net position that indicates ongoing capacity to meet long-term obligations. Growth in capital assets and restricted fund balances illustrate continued investment in infrastructure, including public works and public safety facilities. The Statement of Activities shows revenues by source and expenditures by function. Key findings include: • Property Taxes: Property tax revenues decreased due to legislative updates. • Charges for Services: Charges for services, particularly in enterprise funds (water and wastewater), remained robust due to growth in utility customers and rate adjustments necessary to fund operations and capital needs. • Grants and Contributions: Intergovernmental grants and capital contributions helped offset expenditures for infrastructure projects, aligning with strategic priorities. General Fund activity reflected a balanced operating budget with revenues sufficient to cover recurring expenditures. Increases in licenses and permit fees and federal and state distributions helped sustain essential services without significant taxation increases. Fund balances remained healthy, with adequate reserves maintained for contingencies. ---PAGE BREAK--- Proprietary Funds: Capital Assets and Debt Administration Economic and Demographic Factors Outlook and Fiscal Challenges Conclusion MANAGEMENT DISCUSSION & ANALYSIS - CONTINUED The financial results for the fiscal year ended June 30, 2025, demonstrate the City of Belgrade’s strong financial position and effective stewardship of public resources. Continued emphasis on transparent reporting, sound financial management, and strategic investment in community infrastructure positions Belgrade well to meet current and future challenges. Water and wastewater enterprise funds demonstrated positive operating results, with user charges covering operating costs and contributing to capital reserves. These funds continue to secure sufficient resources for ongoing infrastructure maintenance and planned system upgrades. The City continues to invest in capital assets to support growth and service delivery. Major capital expenditures during FY2025 included street reconstruction projects, utility enhancements, and replacement of aging equipment. Long-term debt obligations remained within authorized limits, with careful attention to responsible debt management and alignment to multi-year capital improvement planning. Belgrade’s continued population growth, as part of the Bozeman metropolitan area, has driven increased demand for public services and infrastructure. Residential and commercial development activity supported a broader tax base, affording the City flexibility in planning and resource allocation as well as providing the ability to focus on improvements city-wide to meet service needs in future years. Looking forward, the City anticipates continued investment in infrastructure, addressing service demand driven by growth, and ensuring sustainability of enterprise fund operations. Strategic priorities include enhanced transportation facilities, utility upgrades, technology improvements, and long-term financial planning to maintain service levels while preserving fiscal discipline. ---PAGE BREAK--- BASIC FINANCIAL STATEMENTS ---PAGE BREAK--- City of Belgrade STATEMENT OF NET POSITION FISCAL YEAR ENDING JUNE 30, 2025 Primary Government Governmental Business-type Activities Activities Total ASSETS Cash and cash equivalents 6,322,523 1,924,407 8,246,930 Petty Cash 545 100 645 Restricted Assets: Cash and cash equivalents 13,449,552 1,807,668 15,257,220 Taxes/Assessments Receivable - (net of allowance for uncollectibles) 814,310 0 814,310 Accounts/other receivables - (net of allowance for uncollectibles) 38,846 1,844,361 1,883,206 Due from other governments 0 880,441 880,441 Prepaid expense 82,641 0 82,641 Other debits 755,000 0 755,000 Capital assets not being depreciated Land 3,289,187 5,201,528 8,490,715 Construction in progress 7,220,256 1,878,649 9,098,905 Capital assets being depreciated (net of accumulated depreciation) 21,518,966 45,768,308 67,287,274 Leased - Right to use capital assets not being amortized 0 392,382 392,382 Total Assets 53,491,824 59,697,845 113,189,669 DEFERRED OUTFLOWS OF RESOURCES Deferred Outflows of Resources - OPEB 0 53,415 53,415 Deferred Outflows of Resources - Leases 112,536 0 112,536 Deferred Outflows of Resources 0 330,830 330,830 Total Deferred Outflows of Resources 112,536 384,245 496,781 LIABILITIES Accounts payable and other current liabilities 2,600,411 340,304 2,940,715 Matured bonds and interest payable 755,000 1,054,191 1,809,191 Long-term liabilities Due within one year Current portion liabilities 112,536 127,035 239,571 Compensated absences 0 24,696 24,696 Due in more than one year Notes, Leases, SBITAs payable 13,927,417 33,345,924 47,273,340 Net pension liability 4,531,751 928,506 5,460,257 OPEB Liability 365,407 251,085 616,492 Compensated absences 1,568,429 199,852 1,768,281 Total Liabilities 23,860,951 36,271,592 60,132,543 DEFERRED INFLOWS OF RESOURCES Deferred Inflows of Resources 348,801 33,117 381,917 Total Deferred Inflows of Resources 348,801 33,117 381,917 NET POSITION Net Investment in Capital Assets 18,100,992 18,769,335 36,870,327 Restricted for: 15,768,121 0 15,768,121 Bond Indenture Requirements 0 3,300,271 3,300,271 Unrestricted (4,474,504) 1,707,776 (2,766,728) Total Net Position 29,394,609 23,777,381 53,171,990 ---PAGE BREAK--- City of Belgrade STATEMENT OF ACTIVITIES FISCAL YEAR ENDING JUNE 30, 2025 Net (Expense) Revenue and Program Revenues Changes in Net Position Charges for Operating Capital Net Primary Government Services, Fines, Grants and Grants and (Expense) Governmental Business-type Functions/Programs Expenses Forfeitures, etc. Contributions Contributions Revenue Activities Activities Total Primary government: Governmental activities: General government 5,359,658 3,584,282 0 0 (1,775,376) (1,775,376) (1,775,376) Public safety 5,510,503 677,060 0 0 (4,833,443) (4,833,443) (4,833,443) Public works 1,330,404 0 14,255 238,650 (1,077,499) (1,077,499) (1,077,499) Public health 180,686 21,608 0 0 (159,077) (159,077) (159,077) Social and economic services 333,124 71,494 159,494 0 (102,136) (102,136) (102,136) Culture and recreation 3,491,832 3,417 278,008 0 (3,210,407) (3,210,407) (3,210,407) Housing/Community Development 143,390 0 0 0 (143,390) (143,390) (143,390) Interest on long-term debt & leases 795,408 0 0 0 (795,408) (795,408) (795,408) Miscellaneous 813,002 0 0 0 (813,002) (813,002) (813,002) Total governmental activities 17,958,007 4,357,861 451,757 238,650 (12,909,739) (12,909,739) (12,909,739) Business-type activities: Water Operations Fund 2,453,076 6,104,566 0 0 3,651,490 3,651,490 3,651,490 Wastewater Operations Fund 3,109,747 5,600,959 0 0 2,491,212 2,491,212 2,491,212 0 Total business-type activities 5,562,824 11,705,525 0 0 6,142,702 0 6,142,702 6,142,702 Total primary government 23,520,831 16,063,386 451,757 238,650 (6,767,037) (12,909,739) 6,142,702 (6,767,037) General revenues: Property taxes 9,747,425 0 9,747,425 Local option taxes 0 0 0 Licenses and permits 1,593,635 0 1,593,635 Unrestricted Federal/State shared revenues 2,141,202 1,152 2,142,354 Unrestricted grants and contributions 0 0 0 Unrestricted investment earnings 813,239 (4,089) 809,149 Miscellaneous 2,622,186 0 2,622,186 Gain on sale of capital assets 0 (1,511,444) (1,511,444) Transfers in (out) 1,482,818 (1,482,818) 0 Special/Extraordinary items 0 0 0 Total general revenues and transfers 18,400,505 (2,997,199) 15,403,305 Change in net position 5,490,766 3,145,502 8,636,268 Total net position - July 1, 2024 as previously reported 24,523,300 24,075,902 48,599,203 Error correction (619,457) (3,444,024) (4,063,481) Fund Balances, July 1, 2024 as adjusted or restated 23,903,843 20,631,879 44,535,722 Total net position - June 30, 2025 29,394,609 23,777,381 53,171,990 ---PAGE BREAK--- City of Belgrade BALANCE SHEET GOVERNMENTAL FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Major Funds Fund #1000 Fund #2399 Nonmajor Total Account Governmental Governmental Number Description Funds Funds ASSETS 101000 Cash and cash equivalents 620,045 9,159,161 (3,456,684) 6,322,523 103000 Petty cash 245 0 300 545 Restricted Assets: 102200 Cash and cash equivalents 13,060,458 0 389,094 13,449,552 110000 Tax/assessment receivable (net of allowance for uncollectibles) 94,425 0 719,885 814,310 120000 Accounts/other receivables - (net of allowance for uncollectibles) 5,412 0 33,433 38,846 140000 Prepaid expense 79,815 0 2,826 82,641 170000 Other debits 0 0 755,000 755,000 Total Assets 13,860,400 9,159,161 (1,556,146) 21,463,416 DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources 0 0 112,536 112,536 Total Deferred Outflows of Resources 0 0 112,536 112,536 LIABILITIES 202100 Accounts payable 72,859 0 1,687,913 1,760,771 204000 Contracts/loans/notes payable 0 0 112,536 112,536 205000 Matured bonds payable 0 0 755,000 755,000 206100 Other accrued payables 432,643 0 253,057 685,700 214000 Deposits payable 0 0 153,940 153,940 Total Liabilities 505,501 0 2,962,446 3,467,947 DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 0 0 348,801 348,801 223000 Deferred Inflows of Tax Revenues 94,425 0 721,060 815,485 Total Deferred Inflows of Resources 94,425 0 1,069,860 1,164,285 FUND BALANCES: 250200 Restricted 0 9,159,161 6,608,959 15,768,121 260100 Committed 0 0 38,408 38,408 260200 Assigned 0 0 783,795 783,795 271000 Unassigned 13,260,474 0 (12,907,078) 353,396 Total Fund Balances 13,260,474 9,159,161 (5,475,916) 16,943,719 Total Liabilities, Deferred Inflows of Resources and Fund Balances 13,860,400 9,159,161 (1,443,610) Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. 32,028,409 Other long-term assets are not available to pay current-period expenditures and, therefore, are deferred outflows of resources in the funds. 815,485 Long-term liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported in the funds. (20,393,004) Net position of governmental activities 29,394,609 General Fund Impact Fees Fund ---PAGE BREAK--- City of Belgrade STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Major Funds Fund #1000 Fund #2399 Nonmajor Total Account Governmental Governmental Number Description Funds Funds REVENUES 310000/ 363000 Taxes/assessments 3,122,499 0 6,024,231 9,146,730 320000 Licenses and permits 122,187 0 1,471,448 1,593,635 330000 Intergovernmental revenues 1,588,486 0 1,243,123 2,831,609 340000 Charges for services 171,877 3,429,751 430,408 4,032,036 350000 Fines and forfeitures 327,824 0 (2,000) 325,825 360000 Miscellaneous 110,862 0 3,497,057 3,607,919 370000 Investment and royalty earnings 422,423 590,958 (200,142) 813,239 Total Revenues 5,866,158 4,020,710 12,464,125 22,350,992 EXPENDITURES Current: 410000 General government 4,695,433 18,305 580,061 5,293,799 420000 Public safety 4,743,266 0 594,380 5,337,647 430000 Public works 0 0 991,287 991,287 440000 Public health 179,945 0 0 179,945 450000 Social and economic services 0 0 331,077 331,077 460000 Culture and recreation 0 0 1,618,515 1,618,515 470000 Housing and community development 0 0 143,390 143,390 490000 Debt, Lease, SBITA Service: Principal 0 0 825,140 825,140 Interest 0 0 795,408 795,408 Capital outlay 70,862 0 13,326,058 13,396,921 510000 Miscellaneous 0 0 813,002 813,002 Total Expenditures 9,689,507 18,305 20,018,317 29,726,130 Excess of revenues (under) expenditures (3,823,349) 4,002,404 (7,554,193) (7,375,137) OTHER FINANCING SOURCES (USES): 382010 Sale of capital assets (1,540,593) (111,024) (1,651,617) 383000 Transfers In 18,592,347 9,956,757 28,549,104 521000 Transfers out (Enter as negative) (1,271,238) (4,995,866) (21,959,464) (28,226,568) Total other financing sources (uses) 15,780,516 (4,995,866) (12,113,731) (1,329,081) Net change in fund balances 11,957,168 (993,462) (19,667,924) (8,704,218) Fund balances - June 30, 2024, as previously reported 1,307,297 10,152,623 9,737,498 21,197,418 Change within financial reporting entity (major to nonmajor fund) 5,069,976 5,069,976 Error correction(s) (3,990) (615,467) (619,457) Fund balances - June 30, 2024, as adjusted or restated 1,303,306 10,152,623 14,192,008 25,647,937 Fund balances - June 30, 2025 13,260,474 9,159,161 (5,475,916) 16,943,719 General Impact Fees Fund ---PAGE BREAK--- Net change in fund balances - total governmental funds (page 8) (8,704,218) Amounts reported for governmental activities in the statement of activities (page ) are different because: Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets: Capital assets purchased, leased, subscription-based IT arrangements 13,396,921 Depreciation and amortization expense (2,334,467) In the Statement of Activities, the loss or gain on the sale or disposal of capital assets is recognized. The fund financial statements recognize only the proceeds from the sale of these assets: Proceeds from the sale of capital assets 1,651,617 Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds: Long-term receivables (deferred inflow) (385,037) Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long-term debt and leases in the Statement of Net Position: Long-term bond principal payments 825,140 Internal service funds are used by management to charge the costs of certain activities, such as insurance and data processing, to individual funds. The net revenue of the internal service funds is reported with the governmental activities of the government-wide statement of activities net of the amounts allocated to business-type activities and depreciation expense: Net of amount allocated to business-type/external activities 1,160,282 Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds: Accrued compensated absenses (119,471) Change in Net Position in Governmental Activities 5,490,766 City of Belgrade RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FISCAL YEAR ENDING JUNE 30, 2025 ---PAGE BREAK--- City of Belgrade STATEMENT OF NET POSITION PROPRIETARY FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Governmental Business-type Activities Activities Account Fund #5210 Fund #5310 Internal Number Description Water Operations Fund Wastewater Operations Fund Totals Service ASSETS Current Assets 101000 Cash and cash equivalents 679,733 1,244,675 1,924,407 (2,796,456) 103000 Petty cash 100 100 0 120000 Accounts/other receivables - (net of allowance for uncollectibles) 886,394 957,967 1,844,361 303 132000 Due from other governments 880,440 1 880,441 0 Total Current Assets 2,446,667 2,202,642 4,649,309 (2,796,154) Noncurrent Assets Restricted Assets: 102200 Cash and cash equivalents 381,765 1,425,903.46 1,807,668 0 180000 Capital assets: Land 5,195,110 5,195,110 0 Water rights 6,418 6,418 0 Construction in progress 1,878,649 1,878,649 0 Buildings 0 1,669,663 Improvements other than buildings 241,978 31,530 273,508 0 Machinery and equipment 858,716 1,429,254 2,287,970 1,542,273 Infrastructure (utility systems) 1,897,093 1,897,093 0 Source of supply 2,254,573 10,137 2,264,710 0 Pumping plant 732,829 732,829 0 Treatment plant 38,995,915 38,995,915 0 Transmission and distribution 12,360,572 2,312,239 14,672,811 0 Less: accumulated depreciation (9,723,188) (5,633,341.31) (15,356,529) (293,627) 18X500 Leased-Right-to-Use (RTU) Capital assets - not amortized 218,705 173,677 392,382 0 Leased RTU Capital Assets 0 222,808 Capital assets - net of accumulated depreciation 11,412,885 41,827,983 53,240,868 3,141,117 Total Noncurrent Assets 11,794,649 43,253,887 55,048,536 3,141,117 Total Assets 14,241,316 45,456,529 59,697,845 344,963 DEFERRED OUTFLOWS OF RESOURCES 199xxx Deferred Outflows of Resources - OPEB 26,708 26,707 53,415 0 199xxx Deferred Outflow of Resources - Others 153,493 177,337 330,830 0 Total Deferred Outflows of Resources 180,201 204,044 384,245 0 LIABILITIES Current Liabilities 202100 Accounts payable 124,842 196,404 321,246 80,609 204300 Leases/SBITAs payable 8,514 62,905 71,419 11,578 205000 Matured bonds payable 206,000 848,191 1,054,191 0 206100 Other accrued payables 29,929 25,687 55,616 12,764 209100 Compensated absences 18,665 6,031 24,696 10,960 214000 Deposits payable 19,002 57 19,059 0 Total Current Liabilities 406,951 1,139,274 1,546,225 115,911 Noncurrent Liabilities 231000 Bonds payable 1,668,000 31,160,047 32,828,047 0 235000 Contracts/loans/notes payable 0 0 235500 Leases/SBITAs payable 176,912 340,965 517,877 201,117 237000 Pension Liability 430,792 497,713 928,506 0 238000 OPEB Liability 125,543 125,543 251,085 0 239000 Compensated absences 62,126 137,726 199,852 29,290 Total Noncurrent Liabilities 2,463,373 32,261,994 34,725,367 230,407 Total Liabilities 2,870,324 33,401,268 36,271,592 346,319 DEFERRED INFLOWS OF RESOURCES 22xxxx Deferred Inflows of Resources - Other 15,365 17,752 33,117 0 Total Deferred Inflows of Resources 15,365 17,752 33,117 0 NET POSITION Net Investment in Capital Assets 9,353,459 9,415,876 18,769,335 2,928,422 Restricted for: Debt Service 1,966,625 1,333,645 3,300,271 0 Unrestricted 215,744 1,492,032 1,707,776 (2,929,777) Total Net Position 11,535,828 12,241,553 23,777,381 (1,355) Reconciliation to government-wide statement of net position: Adjustment to reflect the consolidations of internal service funds activities related to enterprise funds Net position of business-type activities 23,777,381 Major Enterprise Funds -10- ---PAGE BREAK--- City of Belgrade STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION PROPRIETARY FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Governmental Business-type Activities Activities Major Enterprise Funds Account Fund #5210 Fund #5310 Total Internal Number Description Water Operations Fund Wastewater Operations Fund Business-Type Service OPERATING REVENUES 340000 Charges for services 5,945,626 5,600,825 11,546,451 0 360000 Miscellaneous revenues 158,940 134 159,074 191 Total Operating Revenues 6,104,566 5,600,959 11,705,525 191 OPERATING EXPENSES 100 Personal services 1,088,211 798,442 1,886,653 325,793 200 Supplies 54,232 95,482 149,714 202,184 300 Purchased services 456,463 387,334 843,797 392,982 400 Building materials 8,925 7,555 16,480 0 500 Fixed charges 142,776 32,393 175,169 174,679 830 Depreciation and Amortization 664,754 1,153,561 1,818,315 148,227 Total Operating Expenses 2,415,361 2,474,766 4,890,127 1,243,866 Operating Income (Loss) 3,689,205 3,126,193 6,815,398 (1,243,675) NONOPERATING REVENUES (EXPENSES) 330000 Intergovernmental revenue 644 508 1,152 220 371000 Interest revenue 35,555 (39,645) (4,089) (22,236) 382030 Gain/Loss on Sale of Capital Assets (Loss is negative) (3,671) (1,507,773) (1,511,444) (1,370,674) 490000 Debt service interest expense (Enter as negative) (37,715) (626,511) (664,227) (7,295) Total Non-Operating Revenues (Expenses) (5,186) (2,181,891) (2,187,078) (1,399,985) Income (Loss) before contributions and transfers 3,684,019 944,302 4,628,320 (2,643,660) Transfers in (out) (470,499) (1,012,319) (1,482,818) 1,071,859 Change in net position 3,213,520 (68,017) 3,145,502 (1,571,801) Total net position - July 1, 2024 as previously reported 9,998,880 14,077,022 24,075,902 1,560,253 Error Correction(s) (1,676,572) (1,767,452) (3,444,024) 10,192 Fund Balances, July 1, 2024 as adjusted or restated 8,322,309 12,309,570 20,631,879 1,570,445 Total net position - June 30, 2025 11,535,828 12,241,553 23,777,381 (1,355) Reconciliation to government-wide statement of activities: Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds Change in net position of business-type activities 3,145,502 -11- ---PAGE BREAK--- City of Belgrade STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Governmental Business-type Activities Activities Major Enterprise Funds Fund #5210 Fund #5310 Internal Description Water Operations Fund Wastewater Operations Fund Totals Service CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers 5,401,767 5,159,721 10,561,488 191 Cash paid to suppliers (627,810) (507,548) (1,135,357) (742,171) Cash paid to employees (1,049,651) (702,884) (1,752,535) (303,259) Net cash provided (used) by operating activities 3,724,306 3,949,290 7,673,596 (1,045,239) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers from (to) other funds (470,499) (1,012,319) (1,482,818) 1,071,859 Subsidies from taxes and other governments 0 220 Net cash provided (used) by capital and related financing activities (470,499) (1,012,319) (1,482,818) 1,072,079 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchases/acquisition/construction of capital assets (6,851,100) (96,079) (6,947,179) (2,162,361) Principal on debt, leases, & SBITAs (Enter as a negative) (199,000) (902,153) (1,101,153) (10,113) Interest paid on debt, leases, & SBITAs (Enter as a negative) (37,715) (634,981) (672,696) (7,295) Proceeds from other governments 644 508 1,152 0 Proceeds from sales of capital assets (3,671) (1,507,773) (1,511,444) (1,370,674) Net cash provided (used) by capital and related financing activities (7,090,842) (3,140,479) (10,231,321) (3,550,443) CASH FLOWS FROM INVESTING ACTIVITIES Interest earnings 35,555 (39,645) (4,089) (22,236) Net cash provided (used) by investing activities 35,555 (39,645) (4,089) (22,236) Net increase (decrease) in cash and cash equivalents (3,801,480) (243,153) (4,044,633) (3,545,839) Cash and cash equivalents - July 1, 2024 4,862,977 2,913,731 7,776,708 749,382 Cash and cash equivalents - June 30, 2025 1,061,497 2,670,578 3,732,075 (2,796,456) Reconciliation of operating income to net cash provided (used by operating activities: Operating income 3,689,205 3,126,193 6,815,398 (1,243,675) Adjustments to reconcile operating income to net cash provided (used) by operating activities Depreciation expense 664,754 1,153,561 1,818,315 148,227 (Increase) Decrease in accounts receivable (723,145) (441,238) (1,164,383) 0 Increase (decrease) in customer deposits 20,346 20,346 0 Increase (decrease) in accounts payable 34,586 15,216 49,802 27,675 Increase (decrease) in compensated absences payable 38,560 95,558 134,118 22,534 Total adjustments 35,101 823,097 858,198 198,436 Net cash provided (used) by operating activities 3,724,306 3,949,290 7,673,596 (1,045,239) -12- ---PAGE BREAK--- City of Belgrade STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Private Purpose Custodial Account Trust Funds Funds Number Description (7010-7099) (7100-7999) ASSETS 101000 Cash and cash equivalents 957,042 439,001 101100 Investments (at fair value) 157,074 Receivables: 110000 Tax/assessment receivable (net of allowance for uncollectibles) 5,817 Total Assets 1,119,933 439,001 190000 Deferred Outflows of Resources LIABILITIES 201000 Warrants payable 147,496 202000 Accounts payable 2,896 211000 Due to other funds 16,122 212000 Due to other governments 137,583 230000 Other long-term liabilities 134,940 Total Liabilities 0 439,037 220000 Deferred Inflows of Resources 5,817 NET POSITION Restricted 1,114,116 Unrestricted 0 (36) TOTAL NET POSITION 1,114,116 (36) -13- ---PAGE BREAK--- City of Belgrade STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FIDUCIARY FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Private Purpose Custodial Account Trust Funds Funds Number Description (7010-7099) (7100-7999) ADDITIONS: 310000 Tax revenue 42,381 370000 Investment earnings 4,304 366000 Contributions to investment trust 88,423 Total Additions 135,107 0 DEDUCTIONS: Administrative expenses 211 36 Distribution of investments 70,920 Total Deductions 71,131 36 Change in net position 63,976 (36) Total net position - July 1, 2024 as previously reported 1,050,140 Error Correction(s) Fund Balances, July 1, 2024 as adjusted or restated 1,050,140 0 Total net position - June 30, 2025 1,114,116 (36) -14- ---PAGE BREAK--- 1. NEW ACCOUNTING GUIDANCE AND SIGNIFICANT ACCOUNTING POLICIES The government adopted the provisions of the following GASB Statements: A. Reporting Entity B. Government-wide and Fund Financial statements C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation Government-wide, Proprietary, and Fiduciary Fund Financial Statements Governmental Fund Financial Statements The government-wide financial statements, Statement of Net position and Statement of Activities, report information on all of the nonfiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by fees, taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for The City of Belgrade is a political subdivision of the State of Montana governed by a Mayor and Council duly elected by the registered voters of the City. The City of Belgrade utilizes the manager form of government. The City is a primary government because it is a general-purpose local government; has a separately elected governing body; and is a legally separate and fiscally independent from the State and other local governments. GASB Statement No. 101- Compensated Absences. This Statement requires that liabilities for compensated absences be recognized for 1) leave that has not been used and 2)leave that has been used but not yet paid in cash or settled through noncash means. A liability should be recognized for leave that has not been used if the leave is attributable to services already rendered, the leave accumulates, and the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means. Additionally, the Statement requires that a liability for certain types of compensated absences - including parental leave, military leave, and jury duty leave - not be recognized until the leave commences. This statement also requires that a liability for specific types of compensated absences not be recognized until the leave is used. GASB 101 is effective for fiscal years beginning after December 15, 2023. -15- Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are realizable, measurable, earned, and available. Revenues are considered realizable when it is probable the amount will be collected. Revenue is considered measureable and realizable if the precise amount is known because the transaction is completed, or if there is enough information to provide a reasonable estimate of the net realizable revenue to be received. Revenue is considered to have been earned when the exchange of the goods or services has taken place. Revenue is considered to be available if it is collectible within the current period or soon enough thereafter, to pay liabilities of the current period. For this purpose, the government considers revenue available if it is expected to be collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting except for unmatured interest on general long-term debt which is recognized when due. The government-wide, proprietary fund, and fiduciary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide statements. Major individual governmental funds and major individual enterprise funds are reported in separate columns in the fund financial statements. The Statement of Activities demonstrates the degree to which program revenues offset the direct expenses of a given function or segment. Direct expenses are those that are clearly identifiable with a specific function. Program revenues include: 1) charges to customers who purchase, use, or directly benefit from goods, services, or privileges provided by a given function; and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function. Taxes and other items not meeting the definition of program revenues are reported as general revenues. City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 The financial statements have been prepared in accordance with accounting principles generally accepted as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for governmental accounting and financial reporting principles. Pronouncements adopted in the fiscal year ending June 30, 2025, and all reporting periods subsequent, are described below. The significant accounting policies are described below. ---PAGE BREAK--- 1. SIGNIFICANT ACCOUNTING POLICIES - continued C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - continued The government reports the following major governmental funds: General Fund - This is the government's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. Impact Fees Fund - A special revenue non-levied fund with revenue generated through fees charged to developers, which is used to help pay for infrastructure improvements necessary by the new development. Impact fees included in this fund are for parks, fire, roads, and administration. Enterprise funds - account for operaƟons where the primary intent of the government is to finance or recover costs primarily through user charges. The primary focus of fee revenues charged by enterprise funds is outside of the primary government. Internal Service Funds - account for services provided by the government to its various departments or agencies or to other governments, on a cost recovery basis. The City maintains two internal service funds relating to facilities and fleet activity. The government reports the following major proprietary funds: Water Enterprise Fund - This fund is used to account for the operating and nonoperating revenues and expenses of the public water utility system. The fund is maintained on the full accrual basis of accounting. Wastewater Enterprise Fund - This fund is used to account for the operating and nonoperating revenues and expenses of the public wastewater utility system. The fund is maintained on the full accrual basis of accounting. Additionally, the government reports the following fund types: Trust Funds - These funds are used to account for resources legally held in trust for use by another government, individual, or organization. These may include pension trust funds, investment trust funds, or private-purpose trust funds. Pension Trust Funds - These funds are used to account for the activities of a local retirement plan which accumulates resources for pension benefit payments to qualified employees. Custodial Funds - These funds are used to account for fiduciary activities not held in a trust or an equivalent arrangement. These may include external investment pools (not held in trust) and custodial funds. Custodial Funds - These funds are used to account for fiduciary activities not held in a trust or an equivalent arrangement. Proprietary funds - include Enterprise and Internal Service funds. All proprietary funds are accounted for using the accrual basis of accounting. The economic resource focus concerns determining costs as a means of maintaining the capital investment and management control. Revenues are recognized when earned and expenses are recognized when incurred. Fiduciary Funds - Used to account for assets held by the government in a trustee capacity or as an agent for individuals, private organizations, or other governments. These assets cannot be used to support the government's own programs. City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 The major revenue sources considered susceptible to accrual are property taxes, natural resource and fuel taxes, licenses and permits, interest and certain federal revenues (reimbursable grants and U.S. mineral royalties) and so have been recognized as revenues of the current period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. Taxes and assessments receivable remaining uncollected at year end are offset by deferred tax/assessment revenue, a deferred inflow of resources, since they are not available to pay liabilities of the current period. Both financial statements presented on the accrual basis of accounting and the modified accrual basis of accounting recognize grants and similar items, pending purely routine requirements such as filing reimbursement and/or progress reports, where all eligibility requirements imposed by the provider have been met, other than time requirements, as revenue in the current period. Grants and similar items received prior to meeting time requirements but after all eligibility requirements are met, are recognized as deferred inflows of resources until use is required or first permitted. -16 - ---PAGE BREAK--- 1. SIGNIFICANT ACCOUNTING POLICIES - continued C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - continued D. E. Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources, and Fund Balance/Net Position Cash/Cash Equivalents Receivables and Payables Prepaid Items Restricted Assets Amounts reported as program revenues include: 1) charges to customers for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 The Governmental Accounting Standards Board (GASB) issued Statement No. 62. The Statement codifies the requirements of all pre- November 30, 1989, FASB and AICPA pronouncements that apply to state and local governments. Both the government-wide and proprietary fund financial statements follow the guidance of the Governmental Accounting Standards Board. Governments can continue to apply, as other accounting literature, post-November 30, 1989, FASB pronouncements that do not conflict with or contradict GASB pronouncements, including Statement No. 62. The government has adopted the provisions GASB Statement No. 62. As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are payments-in-lieu of taxes and other charges between the governments' enterprise functions and various other functions of the government. Elimination of these charges would distort the direct costs and program revenues reported for the various functions. Activity between funds that are representative of lending/borrowing arrangements outstanding at fiscal year end are referred to as either "due to/from other funds" (i.e. the current portion of interfund loans) or "advances to/from other funds" (i.e. the non-current portion of interfund loans). Advances between funds are not available for appropriation and are not expendable available financial resources. Certain payments reflect costs applicable to future accounting periods and are recorded as prepaid items in both the government-wide Certain assets of the enterprise funds are restricted for specific use as required by the bond indenture agreement covenants established with the issuance and sale of the revenue bonds representing a liability to the enterprise funds. These restricted assets represent cash and cash equivalents restricted for use to repay current debt, establish a reserve for future debt and they establish a replacement and depreciation reserve for the purpose of replacing the system in the future. -17- Proprietary Activity Accounting and Financial Reporting. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the enterprise funds and the government's internal service funds are charges to customer for services provided. Operating expenses for enterprise funds and internal service funds include the cost of providing such services and the depreciation of capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Cash equivalents are short-term, highly liquid investments that are both readily convertible to known amounts of cash, and have maturities at purchase date of three months or less. The cash and cash equivalents (including restricted assets) are considered to be cash on hand, demand, savings and time deposits, STIP and all short-term investments with original maturity dates of three months or less from the date of acquisition. Investments, with limited exceptions, are reported at fair value. Investments in nonparticipating certificates of deposit are reported at cost. Money market investments, including U.S. Treasury and Agency obligations, that mature within one year of acquisition are reported at amortized cost. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is determined annually, and requires the use of valuation techniques, a specific method or combination of methods using one or more of three approaches: market, cost or income approach. Allowable deposit and investment of public funds is governed by Title 7, Chapter 6, Part 2 of the Montana Code Annotated (MCA). Deposits and investments may include demand, time, and savings deposits, direct obligations of the United States Government, securities issued by agencies of the United States, investments in the Montana Short-Term Investment Program (STIP), repurchase agreements, and registered warrants. Accounts receivables are shown net of allowance for uncollectible accounts. Property tax receivables are offset by a deferred inflow account since they are not available to pay liabilities of the current period. All property tax levies are set at the time of the adoption of the annual budget. The real estate taxes are payable in a) two installments, the first due by November 30 and the second by May 31, or b) in seven payments (with application approval) due November 30, December 31, January 31, February 28, March 31, April 30, and May 31. Personal property taxes are assessed in April or May and are payable within 30 days of the issuance of the notice. ---PAGE BREAK--- City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued E. Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources, and Fund Balance/Net Position - continued Capital Assets Assets Years Buildings 20 to 50 Building improvements 5 to 30 Public domain infrastructure 25 to 50 System infrastructure 25 to 50 Vehicles 3 to 5 Equipment other than vehicles 3 to 7 Office equipment 3 to 5 Computer equipment 3 to 5 Deferred Outflows, Deferred inflows, and Unearned Revenue Long-term Obligations Right-to-Use Liabilities Compensated Absences Bond Discounts/Premiums/Issuance Costs Leases and Subscription-Based Information Technology Arrangements (SBITAs) are contracts that convey control of the right to use another entity's nonfinancial asset (leases) or Information Technology hardware and software, alone or in combination with tangible capital assets for a period of time in an exchange or exchange-like transaction. Certain payments are evaluated to determine if they should be included in the measurement of the lease or subscription liabilities, including those payments that require a determination of whether they are reasonably certain of being made, such as residual value guarantees, purchase options, payments for termination penalties, and other payments. As required by State law, the City allows for employees to accumulate earned but unused vacation and sick leave benefits. Unused vacation leave benefits are 100 percent payable upon termination and 1/4 of unused sick leave benefits are payable upon termination. Such amounts are reported as liabilities in the appropriate governmental or business-type activity in the government wide statements. Vested or accumulated leave for proprietary funds is recorded as an expense and liability of those funds in the fund financial statements. For governmental funds, payments for time used within 60 days of the fiscal year are liquidated with current financial resources and reported as such. The remaining expense and liability for the governmental funds is reported only on the government-wide financial statements. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts of debt issuance are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. -18- Capital assets, which include property, plant, equipment, and infrastructure assets roads, bridges, sidewalks, curbs, etc.), are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets, other than land and mineral right assets, are defined by the city as assets with an initial cost of more than $10,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. Due to their undepreciable life, land and mineral rights are capitalized at cost or estimated fair market value regardless of amount. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Property, plant, and equipment of the primary government is depreciated using the straight line method half life convention over the following estimated useful lives: Deferred outflow of resources is a financial statement element. A deferred outflow of resources is a consumption of net position by the government that is applicable to a future reporting period. A deferred inflow of resources is an acquisition of net position by the government that is applicable to a future reporting period. Additionally, deferred inflows may include financial transactions related to unavailable revenue on the governmental fund financial statements. Unavailable revenue is reported when assets are recognized, but those assets are not considered available to pay liabilities of the current period. Unearned revenue, which is neither a deferred outflow of resources nor a deferred inflow of resources; is recognized as a liability on government- wide, governmental, and proprietary fund financial statements. The government-wide statement of net position, proprietary fund statement of net position, and governmental fund balance sheet report a separate section for deferred outflows of resources. Deferred outflows of resources may be disclosed on the face of the financial statements, in the notes to the financial statements, or a combination of both. In the government-wide financial statements and proprietary fund types fund financial statements long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net position. Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bond issue using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt. ---PAGE BREAK--- 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued E. Fund Balance/Net Position 2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS A. B. C. 3. COMPLIANCE AND ACCOUNTABILITY A. Budgetary Information Explanation of certain differences between the governmental fund statement of revenues, expenditures, and changes in fund balances and the government-wide statement of activities The governmental fund balance sheet includes a reconciliation between fund balance - total governmental funds and net position - governmental activities as reported in the government-wide statement of net position. -19- City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources, and Fund Balance/Net Position - continued Governmental Accounting Standards Board (GASB) Statement No. 54 requires presentation of governmental fund balances by specific purpose. In the governmental fund financial statements, the fund balance classifications are presented either discretely or in the aggregate for the following fund balance classifications: non-spendable, restricted, committed, assigned, and unassigned. GASB Statement No. 63 resulted in presentation changes in the government-wide and proprietary fund financial statements. Among other changes, equity is classified as 'net position'. Components of net position are net investment in capital assets, restricted, and unrestricted. See notes K and L for further information. Explanation of certain differences between the governmental fund balance sheet and the government-wide statement of net position Encumbrance accounting is not employed for the governmental funds. Encumbrances (e.g. purchase orders, contracts) outstanding at year end are not reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be reappropriated and honored during the subsequent fiscal year. The preliminary annual operating budget must include the property taxes levied on $100,000 of residential property value from all mills levied in the prior year and the estimated property taxes to be levied under the preliminary annual operating budget on $100,000 of residential property value from all mills the government entity will levy in the current budget year. Appropriations are created by fund, function, and activity. Expenditure limitations imposed by law extend to the fund level which is identified as the legal level of budgetary control. State statute limits the making of expenditures or incurring of obligations to the amount of the final budget as adopted or as amended. Budget transfer and amendments are authorized by law, and in some instances, may require further public hearings. Any budget amendments providing for additional appropriations must identify the fund reserves, unanticipated revenue, or previously unbudgeted revenue that will fund the appropriations. The City adopts an annual budget for all of its funds in accordance with Title 7, Chapter 6, Part 40 of the Montana Code Annotated. Statute requires the adoption of a preliminary budget, public hearings on the preliminary budget and the final adoption of the budget by the later of the first Thursday after the first Tuesday in September or within 30 calendar days of the receipt of the certified taxable valuations from the Department of Revenue. The City must also submit a copy of the final budget to the Department of Administration by the later of October 1 or 60 days after the receipt of the taxable values from the Department of Revenue. The proprietary fund statement of net position includes a reconciliation between net position - total enterprise funds and net position of business-type activities as reported in the government-wide statement of net position. Explanation of certain differences between the proprietary fund statement of net position and the government-wide statement of net position. The governmental fund statement of revenues, expenditures, and changes in fund balances includes a reconciliation between net changes in fund balances - total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. ---PAGE BREAK--- ---PAGE BREAK--- 3. COMPLIANCE AND ACCOUNTABILITY continued B. Excess of expenditures over appropriations Following are funds with budgetary overdrafts as of June 30, 2025: C. Deficit fund equity Following are funds that ended fiscal year 2025 with a negative fund balance, the deficit amount and reason for the deficit in the fund: D Decreases in property taxes A decrease in property taxes due to (15-10-420 calculation), permissive and/or voted levies of $253.35, $760.05, and $1,520.10, respectively for a home valued at $100,000, $300,000 and $600,000 is included in this fiscal year budget. Library Fund $29,881 City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 General Fund $665,996 Parks & Recreation Fund $19,272 Story Creek Phase 1, 2 & 3 Lighting District Fund $2,027 Planning Fund $15,285 Senior Citizens Center Fund $9,437 Public Safety Mill Levy Fund $245,790 Building Code Enforcement Fund $24,419 Impact Fees Fund $264,638 Spomer Lighting District Fund $1,364 2nd Halverson Addition 1st Filing Lighting District Fund $89 Stonebrook Lighting District Fund $3,127 BallPark Greens Lighting District Fund $120 Halverson II Lighting District Fund $18 Henson Number 3 Phase 1 & 2 Lighting District Fund $265 Greenview Estates Lighting District Fund $1,556 Creekside Phase 2 Lighting District Fund $43,014.91 Library Expansion Debt Fund has a negative fund balance of $550,780 due to bond payments. Ryen Glen Phase 6 & 7 Lighting District Fund $14,200 Prescott Ranch Phase 1 A, B & C Lighting District Fund $6,139 Street Maintenance Fund $4,898 West Post Phase 1 & 2 & Frank Road Lighting District Fund $831 Gas Tax Fund $507,107 Park District Capital Improvements Fund $21,152 SID Revolving Fund $100,000 Facilities Maintenance $10,438 The Custodial Fund has a negative fund balance of $36 due to prior period correction of bank fee activity. The CDBG 1993 & Later Fund has a negative fund balance of $168,111 due to prior period corrections to deferred inflow of resources. Capital Improvement Fund has a negative fund balance of $12,165,651 due to closure of the Library Fund. Gas Tax HB#473 Fund $19,536 Capital Improvement Program Fund $13,926,806 Facilities Maintenance Fund has a negative fund balance of $1,440,477 due to asset construction. -20- ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS A. Deposits and Investments Governmental Activities $ 5,762,055 Business-Type Activities $ 935,619 Fiduciary Funds $ 1,553,117 The composition of cash and investments held at June 30 is as follows: Cash on hand (petty cash) 545 $ Deposits 1,000 13,213,773 13,214,773 Investments Fair Value Level 1 Level 2 Level 3 157,074 (5,121,055) (4,963,981) - - - 8,250,792 $ Custodial Credit Risk-Deposits The custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover deposits or will not be able to recover pledged (collateral) securities that are in the possession of an outside party. Uninsured and collateralized with securities held by the pledging financial institution's trust department or agent, but not in the depositor-government's name. State law requires that the City obtain securities for the uninsured portion of deposits as follows: securities equal to 50% of such deposits if the institution in which the deposits are made has a net worth to total assets ratio of 6% or more, OR securities equal to 100% if the ratio of net worth to total assets is less than State law does not specify in whose custody or in whose name the collateral is to be held. The City does not have a formal deposit policy that addresses custodial credit risk. As of June 30th, $21,713,643 of the government's bank balance of $21,850,435 was exposed to custodial credit risk as follows: $8,092,718 -21- The amount of collateral held for the City's deposits as of June 30, 2025: Exceeded - OR - Equaled the amount required by State law. Mutual Funds Repurchase Total investments by Deposit and Investment Risks Total cash, deposits and investments The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy, as follows, is based on the valuation inputs used to measure fair value. Valuation techniques used maximize the use of observable inputs and minimize the use of unobservable inputs. * Level 1 Inputs: Quoted prices in active markets for identical assets; these investments are valued using prices quoted in active markets. * Level 2 Inputs: Significant other observable inputs other than quoted prices included within Level 1; these investments are valued using matrix pricing. * Level 3 Inputs: Significant unobservable inputs; these investments are valued using consensus pricing. Demand deposits Certificates of Deposit (non-participating) Total deposits Fair Value Measurements Using Investments by fair City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 At year end, the cash equivalents and investments are reported in the basic financial statements as follows: Total - Primary Government $ 8,250,791.77 ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued A. Deposits and Investments - continued Rating Not applicable Not applicable Not applicable 13,213,773 160% -62% Less Than 1 1-5 More Than 5 13,213,773 B. Interfund receivables and payables The City does not have any due from/advance from other funds and due to/advance to other funds as of June 30, 2025. Mutual Fund 157,074 REPO account (5,120,055) -22- Certificate of Deposit 13,213,773 Interest Rate Risk - Investments Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. Interest rate risk is minimized by compliance with State law which limits local governments to certain investment types. Additionally, under State law, an investment may not have a maturity date exceeding 5 years, except when the investment is used in an escrow account for an advance refunding of an outstanding bond issue, or for investments of local government group self- insurance programs. The City does not have a formal investment policy that further limits it exposure to interest rate risk. As of June 30, 2025, the City had the following investments and maturities: Investment Maturity (in Years) Investment Type Fair Value The City does not have a formal investment policy that addresses concentration of credit risk. Concentration of Credit Risk - Investments Concentration of credit risk is the risk of loss attributed to the magnitude of a government’s investment in a single issuer. Investment in any one issuer that represents 5% or more of total investments is as follows: Issuer Percentage First Security Bank First Interstate Bank Custodial Credit Risk-Investments The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty to a transaction, a government will not be able to recover the value of investment or collateral securities that are in the possession of an outside party. Investments are exposed to custodial credit risk if the securities are uninsured, are not registered in the name of the government, and are held by either a) the counterparty or b) the counterparty’s trust department or agent, but not in the name of their name. The City has no formal investment policy that would limit its exposure to custodial credit risk. Investments at June 30, 2025, were exposed to custodial credit risk as follows: Uninsured, unregistered, with securities held by the counterparty's trust department or agent but not in the government's name First Security CD 13,213,773 Not applicable First Interstate Bank REPO (5,120,055) Not applicable Investment Fair Value Rating Service Raymond James Mutual Fund 157,074 Not applicable Credit Risk - Investments Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. Credit risk is minimized by compliance with State law, which limits local governments to certain investment types. The City has no formal investment policy that would further limit its exposure to credit risk. Obligations of the U.S. Government or obligations explicitly guaranteed by the U.S. Government are not considered to have credit risk. Credit quality ratings of investments held by STIP, by major credit rating services, may be found in the MBOI's Annual Report: http://investmentmt.com/AnnualReportsAudits. Credit quality ratings of investments held by the City, by major credit rating services, are as follows: City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Deposit and Investment Risks - continued ---PAGE BREAK--- City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 4. DETAILED NOTES ON ALL FUNDS - continued C. Capital assets Governmental Activities capital asset activity for the fiscal year was as follows: Beginning Ending Balance Increases Decreases Balance Governmental activities: Capital assets not being depreciated Land 329,446 3,076,954 (117,213) 3,289,187 Construction in progress - 10,112,427 (2,892,171) 7,220,256 Total capital assets not being depreciated 329,446 13,189,381 (3,009,384) 10,509,443 Capital assets being depreciated Buildings 18,276,172 7,589,776 (5,283,867) 20,582,081 Intangibles/works of art - - - - Improvements other than buildings 2,479,090 298,831 (143,670) 2,634,251 Machinery and equipment 3,934,140 992,673 (829,664) 4,097,149 Infrastructure 6,701,640 101,017 - 6,802,657 Total capital assets being depreciated 31,391,042 8,982,297 (6,257,201) 34,116,138 Less accumulated depreciation for: Buildings (2,968,478) 2,553,873 (482,765) (897,370) Intangibles/works of art - - - - Improvements other than buildings (1,374,110) 109,721 (461,288) (1,725,677) Machinery and equipment (2,500,866) 715,537 (1,569,279) (3,354,608) Infrastructure (6,499,982) - (119,536) (6,619,517) Total accumulated depreciation (13,343,436) 3,379,131 (2,632,867) (12,597,173) Total capital assets being depreciated 18,047,606 12,361,428 (8,890,068) 21,518,966 Governmental activities capital assets net 18,377,052 25,550,809 (11,899,453) 32,028,409 Depreciation and amortization expense was charged to functions/programs of the primary government as follows: Governmental activities: General government 34,853 Public safety 109,341 Public works 323,440 Culture and recreation 1,866,833 Housing and community development - 2,334,467 -23- Total depreciation/amortization expense - governmental activities ---PAGE BREAK--- City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 4. DETAILED NOTES ON ALL FUNDS - continued C. Capital assets Business-type activities capital asset activity for the fiscal year was as follows: Beginning Ending Balance Increases Decreases Balance Business-type activities: Capital assets not being depreciated Land 600 5,194,510 5,195,110 Water rights - 6,418 - 6,418 Construction in progress 41,942,454 3,425,324 (43,489,129) 1,878,649 Total capital assets not being depreciated 41,943,054 8,626,252 (43,489,129) 7,080,177 Capital assets being depreciated Buildings and system 280,690 (280,690) - Improvements other than buildings 779,537 (506,029) 273,508 Machinery and equipment 2,551,877 125,115 (389,022) 2,287,970 Infrastructure 2,777,262 (880,169) 1,897,093 Source of supply 3,696,747 148,079 (1,580,116) 2,264,710 Pumping plant 759,772 (26,943) 732,829 Treatment plant 6,141,844 38,681,756 (5,827,684) 38,995,915 Transmission and distribution 13,557,085 3,128,367 (2,012,641) 14,672,811 Total capital assets being depreciated 30,544,814 42,083,317 (11,503,294) 61,124,837 Less accumulated depreciation for: Buildings and system (146,565) 146,565 - Improvements other than buildings (661,563) (21,983) 501,128 (182,419) Machinery and equipment (1,588,445) (289,349) 218,261 (1,659,532) Infrastructure (1,841,382) (81,442) 651,908 (1,270,916) Source of supply (2,530,716) (172,615) 1,548,672 (1,154,659) Pumping plant (681,580) (43,270) 26,943 (697,907) Treatment plant (5,101,901) (770,179) 4,840,911 (1,031,169) Transmission and distribution (8,775,039) (724,967) 140,078 (9,359,928) Total accumulated depreciation (21,327,191) (2,103,805) 8,074,466 (15,356,529) Total capital assets being depreciated 9,217,623 39,979,513 (3,428,828) 45,768,308 Business-type activities capital assets net 51,160,677 48,605,765 (46,917,956) 52,848,486 Business-type activities Leased Right-to-Use Capital Assets: Leased RTU Capital assets being Amortized Machinery and equipment Leased RTU 392,382 392,382 Total capital assets being amortized - 392,382 - 392,382 Less accumulated amortization for: Machinery and equipment Leased RTU - Total accumulated amortization - - - - Total capital assets being amortized - 392,382 - 392,382 Leased RTU capital assets net - 392,382 - 392,382 Business-type activities: Water Operations Fund 664,754 Wastewater Operations Fund 1,153,561 1,818,315 -24- Total depreciation/amortization expense - business-type activities ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued E. Long-term Obligations Changes in long-term obligations for the year ended June 30, 2025, are as follows: Balance at Balance at Due within 7/1/2024 Increases Decreases 6/30/2025 One Year 13,975,000 $ - $ 455,000 $ 13,520,000 $ 480,000 $ Special Assessment/Improvement District bond 1,135,000 $ - $ 265,000 $ 870,000 $ 275,000 $ Leases 308,314 $ 469,291 $ 159,957 $ 617,648 $ 124,114 $ 1,301,566 $ 463,563 $ 1,483 $ 1,763,645 $ 165,926 $ 16,719,880 $ 932,854 $ 881,441 $ 16,771,293 $ 1,045,040 $ Business-type activities: Revenue bonds 33,665,210 $ 984,829 $ 900,369 $ 33,749,671 $ 715,624 $ Leases 525,352 $ 140,803 $ 76,860 $ 589,295 $ 71,419 $ Compensated absences 90,427 $ 149,255 $ 15,134 $ 224,548 $ 24,696 $ 34,280,989 $ 1,274,887 $ 992,363 $ 34,563,513 $ 811,738 $ Debt Service requirements on long-term debt at June 30, 2025, are as follows: Year Ending June 30, Principal Interest Principal Interest 2026 755,000 $ 715,280 $ - $ - $ 2027 795,000 $ 679,243 $ - $ - $ 2028 835,000 $ 641,188 $ - $ - $ 2029 555,000 $ 601,100 $ - $ - $ 2030 580,000 $ 572,725 $ - $ - $ 2031-2035 3,380,000 $ 2,385,625 $ - $ - $ Thereafter 7,490,000 $ 1,673,063 $ - $ - $ 14,390,000 $ 7,268,223 $ - $ - $ Year Ending June 30, Principal Interest Principal Interest 2026 936,624 $ 607,274 $ - $ - $ 2027 956,448 $ 588,402 $ - $ - $ 2028 975,954 $ 569,541 $ - $ - $ 2029 993,859 $ 548,954 $ - $ - $ 2030 990,604 $ 529,401 $ - $ - $ 2031-2035 4,308,709 $ 2,397,696 $ - $ - $ Thereafter 23,823,779 $ 5,323,782 $ - $ - $ 32,985,976 $ 10,565,050 $ - $ - $ Bonds and Direct Placements -25- Notes from Direct Borrowings Bonds and Direct Placements Business-type Activities Notes from Direct Borrowings Governmental Activities General Obligation bonds Compensated absences Total Total Governmental activities: City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 During the fiscal year the local government issued $936,000 of new revenue bonds all of which none was recognized in the business-type funds. ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued F. Long-term Obligations (continued) The future long-term lease payment schedules at fiscal year-end are as follows: Year Ending June 30, Principal Interest Principal Interest Principal Interest 2026 10,473 6,936 40,148 3,788 80,399 15,601 2027 10,846 6,563 41,373 2,563 87,855 8,146 2028 11,231 6,177 42,642 1,301 0 0 2029 11,631 5,778 0 0 0 0 2030 12,044 5,364 0 0 0 0 2031-2035 66,959 20,083 0 0 0 0 Thereafter 79,745 7,297 0 0 0 0 202,928 58,198 124,163 7,651 168,254 23,747 Year Ending June 30, Principal Interest Principal Interest 2026 16,380 10,848 64,824 6,116 2027 16,963 10,265 66,801 4,138 2028 17,567 9,662 68,852 2,100 2029 18,191 9,037 0 0 2030 18,839 8,390 0 0 2031-2035 104,731 31,412 0 0 Thereafter 124,729 11,413 0 0 317,401 91,027 200,476 12,354 Gallatin Airport Land Vacuum Truck -26- Governmental Activities Gallatin Airport Land Street Sweeper Business-type Activities Street Grader The City entered into an equipment lease agreement in November 2022 for a new Elgin Broom Bear street sweeper with payments made at 3.05% interest through 2028 with a $1 purchase option at the end of the lease term. City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 During the fiscal year the City had agreements to lease certain equipment. The lease agreements qualify as other than short-term leases under GASB 87 and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception. For more information see GASB 87. The local government's outstanding leases related to governmental activities of $617,648 contains the following provisions: The City entered into a land lease agreement with the Gallatin County Airport in 1983 which was extended effective July 1, 2021 through June 30, 2040. The annual lease payments of $44,637 are reported at 39% in governmental activities. The City entered into an equipment lease agreement in November 2022 for a new Elgin Broom Bear street sweeper with payments made at 3.05% interest through 2028 with a $1 purchase option at the end of the lease term. The City entered into a lease agreement in October 2024 for a new street grader with payments made at 8.9% interest through October 2027. The local government's outstanding leases related to business-type activities of $589,295 contains the following provisions: The City entered into a land lease agreement with the Gallatin County Airport in 1983 which was extended effective July 1, 2021 through June 30, 2040. The annual lease payments of $44,637 are reported at 61% in business-type activities. ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued H. Net Pension Liability Public Employees' Retirement System - Defined Benefit: Summary of Significant Accounting Policies Plan Descriptions Benefits Provided City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 MPERA prepared financial statements using the accrual basis of accounting. The same accrual basis was used by MPERA for the purposes of determining the Net Pension Liability (NPL); Deferred Outflows of Resources and Deferred Inflows of Resources related to pensions; Pension Expense; the Fiduciary Net Position; and Additions to or Deductions from Fiduciary Net Position. Member contributions are recognized in the period in which contributions are due. Employer contributions are recognized when due and the employer has made a formal commitment to provide the contributions. Revenues are recognized in the accounting period they are earned and become measurable. Benefit payments and refunds are recognized in the accounting period in which they are due and payable in accordance with the benefit terms. Expenses are recognized in the period incurred. Investments are reported at fair value. MPERA adhered to all accounting principles generally accepted by the United States of America. MPERA applied all applicable pronouncements of the Governmental Accounting Standards Board (GASB). The PERS-Defined Benefit Retirement Plan (DBRP), administered by the Montana Public Employee Retirement Administration (MPERA), is a multiple-employer, cost-sharing plan established July 1, 1945, and governed by Title 19, chapters 2 & 3, Montana Code Annotated (MCA). This plan provides retirement benefits to covered employees of the State, and local governments, and certain employees of the Montana University System, and school districts. Benefits are established by state law and can only be amended by the Legislature. All new members are initially members of the PERS-DBRP and have a 12-month window during which they choose to remain in the PERS-DBRP or join the PERS-DCRP by filing an irrevocable election. Members may not be participants of both the defined benefit and defined contribution retirement plans. All new members from the universities also have a third option to join the university system’s Montana University System Retirement Program (MUS-RP). Service Retirement: • Hired prior to July 1, 2011: o Age 60, 5 years of membership service o Age 65, regardless of membership service o Any age, 30 years of membership service • Hired on or after July 1, 2011: o Age 65, 5 years of membership service o Age 70, regardless of membership service Early Retirement: • Hired prior to July 1, 2011: o Age 50, 5 years of membership service o Any age, 25 years of membership service • Hired on or after July 1, 2011: o Age 55, 5 years of membership service -27- ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued H. Net Pension Liability Public Employees' Retirement System - Defined Benefit: City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Benefits Provided - continued Compensation Cap • Hired on or after July 1, 2013 – 110% annual cap on compensation considered as a part of a member’s highest average compensation. benefit formula: • Members hired prior to July 1, 2011 o Less than 25 years of membership service: 1.785% of HAC per year of service credit; o 25 years of membership service or more: 2% of HAC per year of service credit. • Members hired on or after July 1, 2011 o Less than 10 years of membership service: 1.5% of HAC per year of service credit; o 10 years or more, but less than 30 years of membership service: 1.785% of HAC per year of service credit; o 30 years or more of membership service: 2% of HAC per year of service credit. Guaranteed Annual Benefit Adjustment (GABA) After the member has completed 12 full months of retirement, the member’s benefit increases by the applicable percentage (provided below) each January, inclusive of all other adjustments to the member’s benefit. • 3.0% for members hired prior to July 1, 2007 • 1.5% for members hired between July 1, 2007 and June 30, 2013 • Members hired on or after July 1, 2013: 1.5% for each year PERS is funded at or above 90%; 1.5% reduced by 0.1% for each 2.0% PERS is funded below 90%; and 0% whenever the amortization period for PERS is 40 years or more. -28- Member’s highest average compensation (HAC) • Hired prior to July 1, 2011 highest average compensation during any consecutive 36 months. • Hired on or after July 1, 2011 – highest average compensation during any consecutive 60 months. Second Retirement: (requires returning to PERS-covered employer or PERS service) • Retired before January 1, 2016 and accumulate less than 2 years additional service credit or retired on or after January 1, 2016 and accumulate less than 5 years additional service credit: o A refund of member’s contributions plus return interest (currently 2.02% effective July 1, 2018). o No service credit for second employment. o Start the same benefit amount the month following termination; and o Guaranteed Annual Benefit Adjustment (GABA) starts again in the January immediately following the second retirement. • Retired before January 1, 2016 and accumulate at least 2 years of additional service credit: o A recalculated retirement benefit based on provisions in effect after the initial retirement; and o GABA starts on the recalculated benefit in the January after receiving the new benefit for 12 months. • Retired on or after January 1, 2016 and accumulate 5 or more years of service credit: o The same retirement as prior to the return to service. o A second retirement benefit as prior to the second period of service based on laws in effect upon the rehire date; and o GABA starts on both benefits in the January after receiving the original and the new benefit for 12 months. ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued H. Net Pension Liability Public Employees' Retirement System - Defined Benefit: City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Contributions -29- The State Legislature has the authority to establish and amend contribution rates. Member and employer contribution rates are specified by Montana Statute and are a percentage of the member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers. Special Funding: The state of Montana, as the non-employer contributing entity, paid to the Plan, additional contributions that qualify as special funding. Those employers who received special funding are all participating employers. Not Special Funding: Per Montana law, state agencies and universities paid their own additional contributions. The employer paid contributions are not accounted for as special funding for state agencies and universities but are reported as employer contributions. Rates applicable to employment with the City for 2025 are; Members - 7.900%, City - 9.070%, & State 0.100% Member contributions to the system of 7.9% are temporary and will be decreased to 6.9% on January 1 following actuary valuation results that show the amortization period has dropped below 25 years and would remain below 25 years following the reduction of both the additional employer and additional member contribution rates. Employer contributions to the system: a. Effective July 1, 2014, following the 2013 Legislative session, PERS-employer contributions increase an additional 0.1% a year and will continue over 10 years through 2024. For fiscal years beginning after June 30, 2024, the additional contribution amount stays at 2.27%. The additional employer contributions including the 0.27% added in 2007 and 2009, will terminate on January 1 following actuary valuation results that show the amortization period has dropped below 25 years and would remain below the 25 years following the reduction of both the additional employer and additional member contributions rates. b. Effective July 1, 2013, employers are required to make contributions on working retirees’ compensation. Member contributions for working retirees are not required. c. The portion of employer contributions allocated to the Plan Choice Rate (PCR) are included in the employers reporting. The PCR was paid off effective March 2016 and the contributions previously directed to the PCR are now directed to member accounts. Non-Employer Contributions: a. Special Funding i. The state contributed 0.1% of members’ compensation on behalf of local government entities. ii. The state contributed 0.37% of members’ compensation on behalf of school district entities. iii. The state contributed a Statutory Appropriation from the General Fund of $35,329,705. ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued I. Net Pension Liability Municipal Police Officers' Retirement System Summary of Significant Accounting Policies Plan Descriptions Benefits Provided Deferred Retirement Option Plan (DROP): Beginning July 2002, eligible members of MPORS can participate in the DROP by filing a one-time irrevocable election with the Board. The DROP is governed by Title 19, Chapter 9, Part 12, MCA. A member must have completed at least twenty years of membership service to be eligible. They may elect to participate in the DROP for a minimum of one month and a maximum of 60 months and may only participate in the DROP once. A participant remains a member of the MPORS but will not receive membership service or service credit in the system for the duration of the member’s DROP period. During participation in the DROP, all mandatory contributions continue to the retirement system. A benefit is calculated based on salary and years of service to date as of the beginning of the DROP period. The benefit is paid into the member’s DROP account until the end of the DROP period. At the end of the DROP period, the participant may receive the balance of the DROP account in a lump-sum payment or in a direct rollover to another eligible plan, as allowed by the IRS. If the participant continues employment after the DROP period ends, they will again accrue membership service and service credit. The DROP account cannot be distributed until employment is formally terminated. -30- MPORS provides retirement, disability, and death benefits to plan members and their beneficiaries. Benefits are based on eligibility, years of service, and compensation. Member rights are vested after five years of service. The Municipal Police Officers’ Retirement System (MPORS), administered by the Montana Public Employee Retirement Administration (MPERA), is a multiple-employer, cost-sharing defined benefit plan established in 1974 and governed by Title 19, chapters 2 & 9, Montana Code Annotated (MCA). This plan provides retirement benefits to all municipal police officers employed by first- and second-class cities and other cities that adopt the plan. Benefits are established by state law and can only be amended by the Legislature. City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 MPERA prepared financial statements using the accrual basis of accounting. The same accrual basis was used by MPERA for the purposes of determining the Net Pension Liability (NPL); Deferred Outflows of Resources and Deferred Inflows of Resources related to pensions; Pension Expense; the Fiduciary Net Position; and Additions to or Deductions from Fiduciary Net Position. Member contributions are recognized in the period in which contributions are due. Employer contributions are recognized when due and the employer has made a formal commitment to provide the contributions. Revenues are recognized in the accounting period they are earned and become measurable. Benefit payments and refunds are recognized in the accounting period in which they are due and payable in accordance with the benefit terms. Expenses are recognized in the period incurred. Investments are reported at fair value. MPERA adhered to all accounting principles generally accepted by the United States of America. MPERA applied all applicable pronouncements of the Governmental Accounting Standards Board (GASB). ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued I. Net Pension Liability Municipal Police Officers' Retirement System City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Benefits Provided - continued • A member who returns to covered service is not eligible for a disability benefit. Early Retirement: • Hired prior to July 1, 2011: o Age 50, 5 years of membership service o Any age, 25 years of membership service • Hired on or after July 1, 2011: o Age 55, 5 years of membership service Second Retirement: Re-calculated using specific criteria for members who return to covered MPORS employment prior to July 1, 2017: • Less than 20 years of membership service, upon re-employment, repay benefits and subsequent retirement is based on total MPORS service. • More than 20 years of membership service, upon re-employment, receives intial benefit and a new retirement benefit based on additional service credit and FAC after re-employment applies to retirement system members re-employed in a MPORS position on or after July 1, 2017: • If the member works more than 480 hours in a calendar year and accumulates less than 5 years of service credit before terminating again, the member: o is not awarded servcie credit for the period of reemployment; o is refunded the accumulated contributions associated with the period of reemployment; o starting the first month following termination of service, receiveds the same retirement benefit previously paid to the member; and o does not accrue post-retirement benefit adjustments during the term of reemployment but receives a Guaranteed Annual Benefit Adjustment (GABA) in January immediately following second retirement. • If the member works more than 480 hours in a calendar year and accumulates at least 5 years of service credit before terminating again, the member o is awarded service credit for the period of reemployment; o starting the first month following termination of service, receives: * the same retirement benefit previously paid to the member, and * the second retirement benefit for the period of reemployment calculated based on the laws in effect as of the members rehire date; and o does not accrue post-retirement benefit adjustments during the term of reemployment but receives a GABA * on the initial retirement benefit in January immediately following second retirement, and * on the second retirement benefit starting in January after receiving that benefit for at least 12 months. Member’s highest average compensation (HAC) • Hired prior to July 1, 1977 – average compensation of final year of service; • Hired on or after July 1, 1977 – final average compensation (FAC) for last consecutive 36 months. -31- ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued I. Net Pension Liability Municipal Police Officers' Retirement System City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Benefits Provided - continued Contributions -32- Compensation Cap • Hired on or after July 1, 2013 – 110% annual cap on compensation considered as a part of a member’s FAC. Guaranteed Annual Benefit Adjustment (GABA) • Hired on or after July 1, 1997, or those electing GABA, and has been retired for at least 12 months, a GABA will be made each year in January equal to The State Legislature has the authority to establish and amend contribution rates. Member and employer contribution rates are specified by Montana Statute and are a percentage of the member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers. Special Funding: MCA 19-9-702 requires the State of Montana to contribute a percentage of total compensation directly to the Plan annually after the end of each fiscal year. Member, Employer and State contribution rates applicable to City employment are: • State - 29.370% • City - 14.410% • Member: o Hired before 7/1/1975 - 5.800% o Hired between 7/1/1975 & 6/30/1979 - 7.000% o Hired between 7/1/1979 & 6/30/1997 - 8.500% o Hired after 6/30/1997 - 9.000% ---PAGE BREAK--- City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 4. DETAILED NOTES ON ALL FUNDS - continued K. Restatements/prior period adjustments Fund Amount Reason for adjustment Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Correction of financial software conversion processing. Total -33- 4,052,858 Fleet Services Fund (12,982) Payroll Fund (431) Water Operations Fund 1,676,572 Wastewater Operations Fund 1,767,452 Facilities Maintenance Fund 2,790 Street Maintenance Fund (2,078) Capital Improvement Program Fund (186) Library CIP Fund 3,091 Permissive Medical Levy Fund (14) Building Code Enforcement (914) CDBG - 1993 & Later Economic Development 625,151 Library Fund (2,096) Planning Fund (370) Senior Citizens Center Fund (115) During the current fiscal year, adjustments relating to prior year's transactions were made to the fund balance and net position accounts. The following is a schedule of these adjustments: General Fund 3,990 Parks & Recreation Fund (7,003) ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued L. 1. Fund Balance Disclosure: Non-spendable includes fund balances that cannot be spent either because it is not in spendable form or because of legal or contractual constraints. Restricted includes fund balances that are constrained for specific purposes which are externally imposed by providers such as creditors, or amounts constrained due to law, constitutional provisions or enabling legislation. Committed includes fund balance amounts that are constrained for specific purposes that are internally imposed by the government through formal action of the highest level of decision-making authority and does not lapse at year-end. Assigned includes fund balance amounts that are intended to be used for a specific purpose that are neither considered restricted or committed. Fund balances may be assigned by the following designated individuals, positions or bodies: The Executive Director of Financial Services working in conjunction with the City Manager By taking the following action: adoption of annual budget. Unassigned fund balance includes positive fund balance within the General Fund which has not been classified within the above mentioned classifications. Negative fund balances in other governmental funds will be reported as unassigned. 2. Net Position M. Spending policy: 1st: Restricted 2nd: Committed 3rd: Assigned 4th: Unassigned 1st: Restricted 2nd: Committed 3rd: Assigned The Local Government receives inflows from revenue and other financial sources from numerous sources for use in the Special Revenue, Debt Service and Capital Project funds. These funds will expend those resources on the specific purpose of the fund. The intention of this spending policy is to identify the expenditure order resource categories for the Funds. Resources will be categorized according to Generally Accepted Accounting Principles (GAAP) for state and local governments. When both restricted and unrestricted resources are available in these funds, the following spending policy will apply or the default will apply if a policy has not been adopted: -34- City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 The Governmental Accounting Standards Board, Statement No. 54, requires presentation of governmental fund balance by specific purpose. In the basic financial statements, the fund balance classifications are presented in the aggregate for the following fund balance classifications: non-spendable, restricted, committed, assigned and unassigned. The government-wide and proprietary fund financial statements report net position. Net position represents the difference between assets plus deferred outflow of resources and liabilities plus deferred inflows of resources. Components of net position are net investment in capital assets, restricted and unrestricted. Net investment in capital assets consists of capital assets net of accumulated depreciation plus capital related deferred outflows of resources, less outstanding balance of any related borrowing used for the acquisition, construction, or improvement of those assets and capital related deferred inflows of resources. Restricted net position is defined above (see J1), and unrestricted net position is any portion of net position that does not meet the definition of net investment in capital assets and restricted. The Local Government receives inflows from revenue and other financial sources from numerous sources for use in the General Fund. The Fund will expend those resources on multiple purposes of the local government. The intention of this spending policy is to identify the expenditure order of resource categories for the General Fund. Resources will be categorized according Generally Accepted Accounting Principles (GAAP) for state and local governments. When both restricted and unrestricted resources are available in the General Fund, the following spending policy will apply or the default will apply is a policy has not been adopted: ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued N. Minimum Fund Balance Policy: O. Major Special Revenue Funds: The purpose of each major special revenue fund and revenue source is listed below: Major Special Revenue Fund: P. Restricted Fund Balance: Fund balance is restricted by: -35- Current Debt service 899,237 City ordinance Fiduciary obligations 1,114,080 State legislation Street construction, maintenance & lighting 790,813 State legislation Development project infrastructure 9,526,594 State legislation Community & economic development 2,995,426 State legislation Public safety 1,247,033 State legislation Major Purpose: Amount: Source of Restriction: Parks & recreation operations 332,575 State legislation City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Revenue Source: Impact Fees Fund Developer impact fees The City has a minimum fund balance policy in place for the General Fund. The General Fund Balance requirement is to maintain a minimum end fund balance equivalent to 10% of the total operating expenditures and transfers out for the fiscal year based on the most recently adopted annual budget. Council may adopt a budget with less than 10% but no less than 3% of the fund balance if in the adopting resolution a reason for the below minimum standard is included. ---PAGE BREAK--- 4. DETAILED NOTES ON ALL FUNDS - continued Q. Fund #2399 Nonmajor Total General Impact Fees Fund Governmental Funds Governmental Funds FUND BALANCES: Restricted for: General Government 9,159,161 367,432 9,526,594 Public Safety 1,696,936 1,696,936 Public Works 317,353 317,353 Culture Recreation 332,575 332,575 Housing/Community Devl. 2,995,426 2,995,426 Debt Service 899,237 899,237 Committed to: Culture Recreation 38,408 38,408 Assigned for: General Government 0 0 Social & Economic 133,637 133,637 Culture Recreation 650,158 650,158 Unassigned: -360,451 0 -12,907,078 -13,267,530 Total Fund Balance: -360,451 9,159,161 -5,475,916 3,322,794 -36 - Major Funds: City of Belgrade NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2025 Fund Balance Classifications GASB Statement 54 requires presentation of governmental fund balances by specific major purpose either on the balance sheet - governmental funds, in the notes to the financial statements or a combination of both. The fund balances by major purpose is classified below: ---PAGE BREAK--- REQUIRED SUPPLEMENTARY INFORMATION ---PAGE BREAK--- City of Belgrade GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FISCAL YEAR ENDING JUNE 30, 2025 VARIANCE WITH BUDGETED AMOUNTS FINAL BUDGET Account ACTUAL POSITIVE Number Description ORIGINAL FINAL AMOUNTS (NEGATIVE) REVENUES Taxes: 311000/312000 Property taxes 2,362,195 2,362,195 2,362,195 0 314140 Local option taxes 760,305 760,305 760,304 Licenses and permits 322020 General business licenses 31,619 31,619 31,619 0 323030 Animal licenses 886 886 886 0 323050 Other permits 89,683 89,683 89,682 Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 9,710 9,710 14,255 4,545 335000/336 State shared revenues 995,707 995,707 1,574,231 578,524 Charges for services 341000 General government 9,120 9,120 6,705 (2,415) 342000 Public safety 112,320 112,320 165,172 52,852 Fines and forfeitures 351030 City court 327,825 327,825 327,824 360000 Miscellaneous 104,487 104,487 110,862 6,375 370000 Investment and royalty earnings (138,045) (138,045) (138,045) 0 Total revenues 4,665,812 4,665,812 5,305,691 639,878 EXPENDITURES Current: 410000 General Government: 410100 Legislative services 100 Personal services 10,164 10,164 10,166 200-800 Supplies/services/materials, etc 192,997 192,997 177,515 15,482 410300 Judicial services 100 Personal services 432,008 432,008 455,229 (23,221) 200-800 Supplies/services/materials, etc 27,963 27,963 27,958 5 410400 Administrative services 100 Personal services 538,255 538,255 746,789 (208,534) 200-800 Supplies/services/materials, etc 217,833 217,833 46,730 171,103 410500 Financial services 100 Personal services 587,472 587,472 613,384 (25,912) 200-800 Supplies/services/materials, etc 403,874 403,874 403,753 121 410600 Elections 200-800 Supplies/services/materials, etc 4,372 4,372 4,372 0 -37- ---PAGE BREAK--- City of Belgrade GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FISCAL YEAR ENDING JUNE 30, 2025 VARIANCE WITH BUDGETED AMOUNTS FINAL BUDGET Account ACTUAL POSITIVE Number Description ORIGINAL FINAL AMOUNTS (NEGATIVE) 411000 Planning & Research services 200-800 Supplies/services/materials, etc 0 0 40 (40) 411100 Legal services 100 Personal services 405,911 405,911 427,735 (21,824) 200-800 Supplies/services/materials, etc 226,620 226,620 226,615 5 411200 Facilities administration 200-800 Supplies/services/materials, etc 0 0 40 (40) 411800 Other General Government services 100 Personal services 637,723 637,723 668,326 (30,603) 200-800 Supplies/services/materials, etc 1,163,090 1,163,090 886,783 276,307 420000 Public Safety: 420100 Law enforcement services 100 Personal services 3,608,634 3,608,634 4,441,647 (833,013) 200-800 Supplies/services/materials, etc 395,192 395,192 301,590 93,602 900 Capital outlay 0 0 70,862 (70,862) 420500 Protective inspections 200-800 Supplies/services/materials, etc 0 0 29 (29) 440600 Animal control services 100 Personal services 156,519 156,519 165,062 (8,543) 200-800 Supplies/services/materials, etc 14,884 14,884 14,883 1 Total expenditures 9,023,511 9,023,511 9,689,507 (665,996) Excess of revenues over (under) expenditures (4,357,699) (4,357,699) (4,383,816) (26,117) OTHER FINANCING SOURCES (USES) 382010 Sale of assets 6,718 6,718 (1,540,593) (1,547,311) 383000 Transfers In 5,458,757 5,458,757 5,531,889 73,132 520000 Transfers out (enter as a negative) (1,146,968) (1,146,968) (1,271,238) (124,270) Total other financing sources (uses) 4,318,507 4,318,507 2,720,058 (1,598,449) Net change in fund balance (39,192) (39,192) (1,663,758) (1,624,566) Fund balances - June 30, 2024, as previously reported 1,307,297 Change within financial reporting entity (nonmajor to major fund) Error correction(s) (3,990) Fund balances - June 30, 2024, as adjusted or restated 1,303,306 Fund balances - June 30, 2025 (360,451) -38- ---PAGE BREAK--- Fund #2399 Impact Fees Fund VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACCOUNT ACTUAL POSITIVE NUMBER DESCRIPTION ORIGINAL FINAL AMOUNTS (NEGATIVE) REVENUES Taxes: 311000/312000 Property taxes 0 314140 Local option taxes 0 Licenses and permits 322010 Alcoholic beverage licenses 0 322020 General business licenses 0 323010 Building permits 0 323030 Animal licenses 0 323050 Other permits 0 Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 0 335000/336 State shared revenues 0 Charges for services 341000 General government 3,429,752 3,429,752 3,429,751 342000 Public safety 0 Fines and forfeitures 351030 City court 0 360000 Miscellaneous 0 370000 Investment and royalty earnings 590,959 590,959 590,958 Total revenues 4,020,711 4,020,711 4,020,710 EXPENDITURES Current: 410000 General Government: 100 Personal services 0 200-800 Supplies/services/materials, etc 138,168 138,168 18,305 119,863 420000 Public Safety 100 Personal services 0 200-800 Supplies/services/materials, etc 0 430000 Public Works 100 Personal services 0 200-800 Supplies/services/materials, etc 0 440000 Public Health 100 Personal services 0 200-800 Supplies/services/materials, etc 0 450000 Social and Economic Services 100 Personal services 0 200-800 Supplies/services/materials, etc 0 460000 Culture and Recreation 100 Personal services 0 200-800 Supplies/services/materials, etc 0 470000 Housing and Community Development 100 Personal services 0 City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES MAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 -39- ---PAGE BREAK--- Fund #2399 Impact Fees Fund VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACCOUNT ACTUAL POSITIVE NUMBER DESCRIPTION ORIGINAL FINAL AMOUNTS (NEGATIVE) City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES MAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 200-800 Supplies/services/materials, etc 0 480000 Conservation of Natural Resources 100 Personal services 0 200-800 Supplies/services/materials, etc 0 900 Capital expenditures 0 490000 Debt, Lease, and SBITA Service 610 Principal 0 620 Interest 0 510000 Miscellaneous 0 Total expenditures 138,168 138,168 18,305 119,863 Excess of revenues over (under)expenditures (138,168) (138,168) (18,305) 119,863 OTHER FINANCING SOURCES (USES) 382010 Sale of assets 0 383000 Transfers In 0 520000 Transfers out (enter as a negative) (4,611,365) (4,611,365) (4,995,866) (384,501) Total other financing sources (uses) (4,611,365) (4,611,365) (4,995,866) (384,501) Net change in fund balance (4,749,533) (4,749,533) (5,014,171) (264,638) Fund balances - June 30, 2024, as previously reported 10,152,623 Change within financial reporting entity (nonmajor to major fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated 10,152,623 Fund balances - June 30, 2025 5,138,452 -40- ---PAGE BREAK--- 81a1 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 0.233874% 0.202097% 0.137363% 0.118466% 0.114200% 0.100872% 0.081430% 0.101302% 0.099616% 0.091035% 5,720,009 4,931,891 3,266,325 2,148,046 3,012,830 2,108,535 1,699,552 1,972,979 1,696,811 1,272,555 1,486,475 1,362,222 975,360 632,732 947,749 685,927 569,320 26,855 20,733 15,631 7,206,484 6,294,113 4,241,685 2,780,778 3,960,579 2,794,462 2,268,872 1,999,834 1,717,544 1,288,186 4,582,240 3,757,367 2,413,994 2,092,559 1,916,080 1,664,372 1,339,157 1,255,965 1,193,230 1,062,399 124.83% 131.26% 135.31% 102.65% 157.24% 126.69% 126.91% 157.09% 142.20% 119.78% 74.77% 73.93% 73.66% 79.91% 68.90% 73.85% 73.47% 73.75% 74.71% 78.40% 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 417,533 339,843 214,691 185,441 167,874 143,147 113,426 105,184 99,737 - - - - - - - - 3,287 - 417,533 339,843 214,691 185,441 167,874 143,147 113,426 105,184 103,024 - - - - - - - - - 4,582,240 3,757,367 2,413,994 2,092,559 1,916,080 1,664,372 1,339,157 1,255,965 1,193,230 9.11% 9.04% 8.89% 8.86% 8.76% 8.60% 8.47% 8.37% 8.63% *The amounts presented for each fiscal year were determined as of June 30, the most recent fiscal year end. 1All employer adjustments made in the current fiscal year but are adjusting a payroll with a pay date in a prior fiscal year, are considered prior year adjustments and are removed from the covered payroll report before the actuary calculates the employers proportionate share. Schedule is intended to show information for 10 years. Additional years will be displayed as they become available. -41- Employer's Proportionate Share as a percent of Covered Plan Fiduciary Net Position as a percent of the Total Pension Liability *The amounts presented for each fiscal year were determined as of June 30, the measurement date. 1All employer adjustments made in the current fiscal year but are adjusting a payroll with a pay date in a prior fiscal year, are considered prior year adjustments and are removed from the covered payroll report before the actuary calculates the employers proportionate share. Contributions as a percentage of Covered Payroll City of Belgrade Required Supplementary Information Schedule of Contributions For the Last Ten Fiscal Years* 81b As of most recent FYE - (reporting date) Contractually Required DB Contributions Plan Choice Rate Required Contributions Contributions in Relation to the Contractually Required Contributions Contribution Deficiency (Excess) Employer's Covered Payroll1 City of Belgrade FISCAL YEAR ENDING JUNE 30, 2025 Public Employees Retirement Plan (PERS) Other Supplementary Information Schedule of Proportionate Share of the Net Pension Liability For the Last Ten Fiscal Years* Schedule is intended to show information for 10 years. Additional years will be displayed as they become available. Reporting Date: As of Measurement Date: Employer's proportion of the Net Pension Liability (percentage) Employer's Net Pension Liability (amount) State of Montana's Net Pension Liability (amount) Total Employer's Covered Payroll1 ---PAGE BREAK--- Changes of Benefit Terms The following changes to the plan provisions were made as identified: Working Retiree Limitations – for PERS Refunds Lump-sum payouts Disabled PERS Defined Contribution (DC) Members -42- Disabled retirees PUB-2010 General Amount Weighted Disabled Retiree mortality table, projected to 2021, set forward one year for both males and females Contingent Survivors PUB-2010 Amount Weighted Contingent Survivor Mortality projected to 2021 with ages set forward one year for males and females. Projected Health Retirees PUB-2010 General Amount Weighted Healthy Retiree Mortality Table projected to 2021, with ages set forward one year and adjusted 104% for males and 103% for females. Projected Remaining Amortization method 30 years Mortality Active participants PUB-2010 General Amount Weighted Employee Mortality projected to 2021 for males and females. Projected generationally using MP-2021 Asset valuation method Four year smoothed market Actuarial cost method Entry age Normal Amortization method Level percentage of payroll, open Investment Rate of Return* 7.30%, net of pension plan investment and administrative expenses *Includes inflation at 2.75% Merit salary increase 0% to 4.80% Notes to the Required Supplementary Information For the Employer's Fiscal Year Ended June 30, 2025 (June 30, 2024 Measurement Date) 2017 General Wage Growth* 3.50% City of Belgrade Changes in Actuarial Assumptions and Methods Method and assumptions used in calculations of actuarially determined contributions The following Actuarial Assumptions were used to determine contribution rates reported for fiscal year ending June 30, 2024 based on June 30, 2023, actuarial valuation: PERS members hired after July 1, 2011 have a normal retirement age of 65. PERS DC members hired after July 1, 2011 who became disabled were previously only eligible for a disability benefit until age 65. Effective July 1, 2017, these individuals will be eligible for a disability benefit until they reach 70, thus ensuring the same 5-year time period available to PERS DC disabled members hired prior to July 1, 2011 who have a normal retirement age of 60 and are eligible for a disability benefit until age 65. Effective July 1, 2017, lump-sum payouts in all systems are limited to the member’s accumulated contributions rate than the present value of the member’s benefit. 3) Trusts, estates, and charitable organizations listed as beneficiaries are entitled to receive only a lump-sum payment. 2) Terminating members with accumulated contributions between $200 and $1,000 who wish to rollover their refund must do so within 90 days of termination of service. 1) Terminating members eligible to retire may, in lieu of receiving a retirement benefit, refund their accumulated contributions in a lump sum. Effective July 1, 2017, if a PERS retiree returns as an independent contractor to what would otherwise be PERS-covered employment, general contractor overhead costs are excluded from PERS working retiree limitations. ---PAGE BREAK--- 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 0.9988% 0.9373% 0.6949% 0.6695% 6.0960% 0.6485% 0.5661% 0.5117% 52.9000% 52.9000% 2,233,175 2,173,097 1,641,509 1,217,061 1,490,883 1,290,754 969,484 910,378 952,359 851,420 4,541,585 4,385,779 3,336,222 2,473,747 3,006,937 2,628,424 1,981,817 185,514 1,890,473 1,725,058 6,774,760 $ 6,558,876 $ 4,977,731 $ 3,690,808 $ 4,497,820 $ 3,919,178 $ 2,951,301 $ 1,095,892 $ 2,842,832 $ 2,576,478 $ 2,112,338 1,889,987 1,296,327 1,211,669 1,044,167 10,687,961 893,545 765,209 746,842 712,354 105.72% 114.98% 126.63% 100.45% 142.78% 120.77% 108.50% 118.97% 127.52% 119.52% 73.96% 71.65% 69.67% 75.76% 64.84% 68.84% 70.95% 68.34% 65.62% 66.90% 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 305,272 275,092 188,180 174,368 152,131 154,622 133,645 110,266 109,403 305,272 275,092 188,180 174,368 152,131 154,622 133,645 110,266 109,403 - - - - - - - - - 2,112,338 1,889,987 1,296,327 1,211,669 1,044,167 10,687,961 893,545 765,209 746,842 14.45% 14.56% 14.52% 14.39% 14.57% 1.45% 14.96% 14.41% 14.65% *The amounts presented for each fiscal year were determined as of June 30, the most recent fiscal year end. 1All employer adjustments made in the current fiscal year but are adjusting a payroll with a pay date in a prior fiscal year, are considered prior year adjustments and are removed from the covered payroll report before the actuary calculates the employers proportionate share. -43- Contributions as a percentage of Covered Payroll Schedule is intended to show information for 10 years. Additional years will be displayed as they become available. City of Belgrade Required Supplementary Information Schedule of Contributions For the Last Ten Fiscal Years* 81b As of most recent FYE - (reporting date) Contractually Required Contributions Contributions in Relation to the Contractually Required Contributions Contribution Deficiency (Excess) Employer's Covered Payroll1 1All employer adjustments made in the current fiscal year but are adjusting a payroll with a pay date in a prior fiscal year, are considered prior year adjustments and are removed from the covered payroll report before the actuary calculates the employers proportionate share. 81a1 Reporting Date: As of Measurement Date: Employer's proportion of the Net Pension Liability (percentage) Employer's Net Pension Liability (amount) State of Montana's Net Pension Liability associated with the Total Employer's Covered Payroll1 Employer's proportionate share as a percent of Covered Payroll Plan Fiduciary Net Position as a percent of the Total Pension Liability *The amounts presented for each fiscal year were determined as of June 30, the measurement date. For the Last Ten Fiscal Years* City of Belgrade FISCAL YEAR ENDING JUNE 30, 2025 Municipal Police Officers' Retirement Plan (MPORS) Other Supplementary Information Schedule of Proportionate Share of the Net Pension Liability ---PAGE BREAK--- Changes of Benefit Terms The following changes to the plan provision were made as identified: 2017 Working Retiree Limitations – for MPORS · Members who return for less than 480 hours in a calendar year: o May not become an active member in the system; and · Members who return for 480 or more hours in a calendar year: o Must become an active member of the system; o Will stop receiving a retirement benefit from the system; and · Employee, employer and state contributions, if any, apply as follows: o Employer contributions and state contributions (if any) must be paid on all working retirees; Second Retirement Benefit – for MPORS o is not awarded service credit for the period of reemployment; o is refunded the accumulated contributions associated with the period of reemployment; o is awarded service credit for the period of reemployment; o starting the first month following termination of service, receives: * the same retirement benefit previously paid to the member, and o does not accrue post-retirement benefit adjustments during the term of reemployment but receives a GABA: * on the initial retirement benefit in January immediately following second retirement, and * on the second retirement benefit starting in January after receiving that benefit for at least 12 months. · A member who returns to covered service is not eligible for a disability benefit. Refunds Lump-sum payouts Contingent Survivors PUB-2010 Amount Weighted Contingent Survivor Mortality projected to 2021 with ages set forward one year for males and females. Projected generationally using MP-2021 Health Retirees PUB-2010 General Amount Weighted Healthy Retiree Mortality Table projected to 2021, with ages set forward one year and adjusted 104% for males and 103% for females. Projected generationally using MP- 2021 -44- Mortality Active participants PUB-2010 General Amount Weighted Employee Mortality projected to 2021 for males and females. Projected generationally using MP-2021 Disabled retirees PUB-2010 General Amount Weighted Disabled Retiree mortality table, projected to 2021, set forward one year for both males and females Asset valuation method Four-year smoothed market Actuarial cost method Entry Age Normal Amortization method Level percentage of pay, open Investment Rate of Return* 7.30%, net of pension plan investment and administrative expenses *Includes inflation at 2.75% Merit salary increases 0% to 6.40% General Wage Growth* 3.50% · If the member works more than 480 hours in a calendar year and accumulates less than 5 years of service credit before terminating again, the member: o starting the first month following termination of service, receives the same retirement benefit previously paid to the member; and o does not accrue post-retirement benefit adjustments during the term of reemployment but receives a Guaranteed Annual Benefit Adjustment (GABA) in · If the member works more than 480 hours in a calendar year and accumulates at least 5 years of service credit before terminating again, the member: * a second retirement benefit for the period of reemployment calculated based on the laws in effect as of the member’s rehire date; and · Terminating members eligible to retire may, in lieu of receiving a retirement benefit, refund their accumulated contributions in a lump sum. · Terminating members with accumulated contributions between $200 and $1,000 who wish to rollover their refund must do so within 90 days of termination of service. · Trusts, estates, and charitable organizations listed as beneficiaries are entitled to receive only a lump-sum payment. · Effective July 1, 2017, lump-sum payouts in all systems are limited to the member’s accumulated contributions rate than the present value of the member’s benefit. Changes in Actuarial Assumptions and Methods Method and assumptions used in calculations of actuarially determined contributions The following Actuarial Assumptions were adopted from the June 30, 2019 actuarial valuation: Applies to retirement system members who return on or after July 1, 2017 to active service covered by the system from which they retired. City of Belgrade Notes to the Required Supplementary Information For the Employer's Fiscal Year Ended June 30, 2025 (June 30, 2024 Measurement Date) 82 Applies to retirement system members who return on or after July 1, 2017 to covered employment in the system from which they retired. o Are subject to a $1 reduction in their retirement benefit for each $3 earned in excess of $5,000 in the calendar year. o Will be eligible for a second retirement benefit if they earn 5 or more years of service credit through their second employment. o Employee contributions must be paid on working retirees who return to covered employment for 480 or more hours in a calendar year. ---PAGE BREAK--- OTHER SUPPLEMENTARY INFORMATION ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 FUND #2210 FUND #2225 FUND #2250 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 386,771 83,180 385,577 103000 Petty cash 160 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 35,137 16,967 3,900 115000 Personal 5,107 4,517 1,942 116000 Protested 88 26 118000 Special assessments 1,011 120000 Accounts/other receivables (net of allowance for uncollectibles) 1,180 140000 Prepaid expense 240 170000 Other debits Total Assets 428,195 106,003 391,605 DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources 0 0 0 LIABILITIES 202100 Accounts payable 16,535 13,589 784 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 37,661 30,804 17,534 214000 Deposits payable 625 Total Liabilities 54,196 45,017 18,317 DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues 41,424 22,577 5,868 Total Deferred Inflows of Resources 41,424 22,577 5,868 FUND BALANCES: 250200 Restricted 332,575 367,420 260100 Committed 38,408 260200 Assigned 271000 Unassigned (negative balance ony) 0 0 Total Fund Balances 332,575 38,408 367,420 Total Liabilities, Deferred Inflows of Resources and Fund Balances 428,195 106,003 391,605 -45- Parks & Recreation Fund Library Fund Planning Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2280 FUND #2300 FUND #2310 151,011 2,993,765 140 86,539 12,509 351 4,044 42,124 2,586 151,151 103,442 3,038,475 0 0 0 8,820 925 8,693 17,513 925 103,443 42,124 0 103,443 42,124 2,995,426 133,637 0 0 133,637 2,995,426 151,151 103,442 3,038,475 -46- Senior Citizens Center Fund Public Safety Mill Levy Fund TIF-URD Belgrade Commercial Center Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2372 FUND #2390 FUND #2394 13 37,755 1,266,703 19,751 10,629 46 528 30,967 37,755 1,266,703 0 0 0 33,923 24,908 0 0 58,831 30,955 30,955 0 0 13 37,755 1,207,872 0 0 12 37,755 1,207,872 30,967 37,755 1,266,703 -47- Permissive Medical Levy Fund Drug Forfeiture Fund Building Code Enforcement Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2397 FUND #2401 FUND #2402 148,436 1,393 2,170 32,253 180,689 1,393 2,170 0 0 0 2,265 1,872 2,265 1,872 348,801 348,801 0 0 298 (168,111) (873) (168,111) (873) 298 180,689 1,393 2,170 -48- CDBG - 1993 & LATER Fund 2nd Halverson Addition 1st Filing Fund Spomer Lighting District ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2405 FUND #2406 FUND #2409 1,459 3,517 10,836 185 1,643 3,517 10,836 0 0 0 1,872 4,868 1,872 4,868 0 185 185 0 0 10,836 (413) (1,350) 0 (413) (1,350) 10,836 1,643 3,517 10,836 -49- Greenview Estates Lighting District Fund Lighting District Fund Stonebrook Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2410 FUND #2415 FUND #2419 7,755 5,347 3,555 7,755 5,347 3,555 0 0 0 4,749 2,714 3,370 4,749 2,714 3,370 0 0 0 3,006 2,634 185 0 0 3,006 2,634 185 7,755 5,347 3,555 -50- Langel Street Lighting District Fund Halverson II Lighting District Fund BallPark Greens Lighting District ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2420 FUND #2421 FUND #2422 3,423 4,848 11,277 3,423 4,848 11,277 0 0 0 1,123 1,123 7,773 1,123 1,123 7,773 0 0 0 2,300 3,725 3,504 2,300 3,725 3,504 3,423 4,848 11,277 -51- Stonebrook II B Lighting District Fund Stonebrook II A Lighting District use Lighting District ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2425 FUND #2427 FUND #2430 1,305 4,363 103,850 1,305 4,363 103,850 0 0 0 3,754 2,171 950 3,754 2,171 950 0 0 0 2,192 102,900 (2,449) 0 0 (2,449) 2,192 102,900 1,305 4,363 103,850 -52- BallPark II Ph 1, 2 & 3 Lighting District Fund Northview / Creekside Ph 1 Lighting District Fund Creekside Ph 2 Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2431 FUND #2432 FUND #2433 1,852 1,928 8,440 1,852 1,928 8,440 0 0 0 941 1,460 2,984 941 1,460 2,984 0 0 0 910 468 5,456 0 0 0 910 468 5,456 1,852 1,928 8,440 -53- Northview Ph 2 Lighting District Fund 2nd Halverson Ph 3 Lighting District Fund Henson Ph 1 & 2 Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2434 FUND #2438 FUND #2439 15,825 28,439 1,266 474 15,825 28,912 1,266 0 0 0 8,407 23,631 4,795 8,407 23,631 4,795 474 0 474 0 7,418 4,808 (3,528) 7,418 4,808 (3,528) 15,825 28,912 1,266 -54- Las Campanas Ph 1- 4 Lighting District Fund Ryen Glen Ph 1, 2, 4 & Meadowlark Ranch Ryen Glen Ph 3 & 5 Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2440 FUND #2441 FUND #2442 (3,589) (4,295) (1,181) 24 112 (3,565) (4,295) (1,069) 0 0 0 9,174 7,362 4,679 9,174 7,362 4,679 24 112 24 0 112 (12,762) (11,657) (5,860) (12,762) (11,657) (5,860) (3,565) (4,295) (1,069) -55- Story Creek Ph 1, 2 & 3 Lighting District Fund Ryen Glen Ph 6 & 7 Lighting District Fund Henson No. 3 Ph 1 & 2 Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2443 FUND #2444 FUND #2550 18,978 2,901 110,706 153,697 235,397 5,509 18,978 156,598 351,612 112,536 0 0 112,536 6,653 42,757 112,536 133,459 153,315 0 159,967 288,752 5,509 0 0 5,509 18,978 169,887 0 (3,369) 0 18,978 (3,369) 169,887 18,978 156,598 464,148 -56- Street Maintenance Ryen Glen Ph 8 Lighting District Fund Prescott Ranch Ph 1 A, B, C Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2600 FUND #2820 FUND #2821 (465) 431,773 19,536 (465) 431,773 19,536 0 0 0 366 366 0 0 0 0 0 431,773 19,536 (831) 0 0 (831) 431,773 19,536 (465) 431,773 19,536 -57- West Post Ph 1 & 2 & Frank Road Lighting District Fund Gas Tax Fund Gas Tax HB#473 Fund ---PAGE BREAK--- City of Belgrade COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION ASSETS 101000 Cash and cash equivalents 103000 Petty cash 102000 Cash and cash equivalents - restricted Taxes receivable: 111000 Mobiles 113000 Real estate 115000 Personal 116000 Protested 118000 Special assessments 120000 Accounts/other receivables (net of allowance for uncollectibles) 140000 Prepaid expense 170000 Other debits Total Assets DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources Total Deferred Outflows of Resources LIABILITIES 202100 Accounts payable 204000 Contracts/loans/notes payable 205000 Matured bonds payable 206100 Other accrued payables 214000 Deposits payable Total Liabilities DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 223000 Deferred Inflows of Tax Revenues Total Deferred Inflows of Resources FUND BALANCES: 250200 Restricted 260100 Committed 260200 Assigned 271000 Unassigned (negative balance ony) Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances FUND #2917 NONMAJOR SPECIAL REVENUE FUNDS 2,683 6,253,106 300 389,094 0 162,294 34,704 510 54,010 33,433 2,826 0 2,683 6,930,278 112,536 0 112,536 1,277 227,666 112,536 0 253,057 153,940 1,277 747,199 348,801 252,694 0 601,494 1,406 5,733,280 38,408 133,637 0 (211,204) 1,406 5,694,121 2,683 7,042,814 -58- Victims Advocate Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACCOUNT ACTUAL POSITIVE ACTUAL POSITIVE NUMBER DESCRIPTION ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) REVENUES Taxes: 311000/312000 Property taxes 0 548,565 548,565 548,565 Licenses and permits 323010 Building permits 0 0 323050 Other permits 0 0 Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 0 0 334000 State grants 0 10,251 10,251 10,220 (31) 335000/336 State shared revenues 0 0 471 471 51,511 51,511 51,888 377 337000 Local grants 0 10,000 10,000 10,000 0 338000 Local shared revenues 0 257,788 257,788 257,788 0 Charges for services 341000 General government 0 0 342000 Public safety 0 0 345000 Social/economic services 0 0 346000 Culture and recreation 0 6,269 6,269 6,267 Fines and forfeitures 351030 City court 0 0 360000 Miscellaneous 1,603,714 1,603,714 1,622,489 18,775 74,411 74,411 74,412 1 370000 Investment and royalty earnings 2,000 2,000 (5,938) (7,938) 6,782 6,782 6,781 Total revenues 1,605,714 1,605,714 1,617,022 11,308 965,577 965,577 965,921 344 EXPENDITURES Current: 410000 General Government: 100 Personal services 0 0 200-800 Supplies/services/materials, etc 0 0 420000 Public Safety 100 Personal services 0 0 200-800 Supplies/services/materials, etc 0 0 430000 Public Works 100 Personal services 0 0 200-800 Supplies/services/materials, etc 0 0 450000 Social and Economic Services 100 Personal services 0 0 200-800 Supplies/services/materials, etc 0 0 460000 Culture and Recreation 100 Personal services 711,427 711,427 750,366 (38,939) 576,520 576,520 605,774 (29,254) 200-800 Supplies/services/materials, etc 190,486 190,486 157,449 33,037 162,878 162,878 104,926 57,952 470000 Housing and Community Development 100 Personal services 0 0 200-800 Supplies/services/materials, etc 0 0 900 Capital expenditures 14,524 14,524 27,894 (13,370) 0 0 58,579 (58,579) 490000 Debt, Lease, and SBITA Service 610 Principal 0 0 620 Interest 0 0 510000 Miscellaneous 0 0 Total expenditures 916,437 916,437 935,709 (19,272) 739,398 739,398 769,279 (29,881) Excess of revenues over expenditures 689,277 689,277 681,313 30,581 226,179 226,179 196,641 30,225 OTHER FINANCING SOURCES (USES) 382010 Sale of assets 0 0 (26,606) (26,606) 0 0 (74,418) (74,418) 383000 Transfers In 0 61,365 61,365 61,365 0 520000 Transfers out (enteras a negative) (452,774) (452,774) (452,774) 0 (439,851) (439,851) (439,851) 0 Total other financing sources (uses) (452,774) (452,774) (479,380) (26,606) (378,486) (378,486) (452,904) (74,418) Net change in fund balance 236,503 236,503 201,933 3,975 (152,307) (152,307) (256,263) (44,193) Fund balances - June 30, 2024, as previously reported 123,640 292,575 Change within financial reporting entity (major to nonmajor fund) Error correction(s) 7,003 2,096 Fund balances - June 30, 2024, as adjusted or restated 130,643 294,671 Fund balances - June 30, 2025 332,575 38,408 -59- Parks & Recreation Fund Library Fund FUND #2210 FUND #2225 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2250 FUND #2280 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 201,716 201,716 201,714 0 0 0 0 0 0 125,995 125,995 117,252 (8,743) 0 0 0 8,742 8,742 16,277 16,277 16,747 470 0 0 151 151 0 0 0 33,500 33,500 33,500 0 147,825 147,825 147,825 0 0 0 0 0 71,496 71,496 71,494 0 0 0 0 0 105,865 105,865 105,055 (810) 5,450 5,450 5,449 5,078 5,078 5,079 1 371,268 371,268 371,736 468 341,934 341,934 341,273 (661) 526,697 526,697 552,334 (25,637) 0 38,079 38,079 27,727 10,352 0 0 0 0 0 0 0 0 0 0 209,630 209,630 218,002 (8,372) 0 112,010 112,010 113,075 (1,065) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 564,776 564,776 580,061 (15,285) 321,640 321,640 331,077 (9,437) (193,508) (193,508) (208,324) 15,753 20,294 20,294 10,196 8,776 0 0 0 (10,000) (10,000) 123,457 123,457 580,066 456,609 139,346 139,346 139,346 0 (348,740) (348,740) (348,740) 0 (93,946) (93,946) (93,946) 0 (225,283) (225,283) 231,326 456,609 45,400 45,400 35,400 (10,000) (418,791) (418,791) 23,002 472,362 65,694 65,694 45,596 (1,224) 344,048 87,926 370 115 344,418 88,041 367,420 133,637 -60- Planning Fund Senior Citizens Center Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2300 FUND #2310 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 2,774,040 2,774,040 2,774,039 998,464 998,464 998,463 0 0 0 0 0 0 0 0 0 26,337 26,337 26,337 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 89,337 89,337 89,337 102,058 102,058 102,057 2,863,377 2,863,377 2,863,376 1,126,859 1,126,859 1,126,858 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 135,043 135,043 135,042 1 0 14,185 14,185 8,348 5,837 0 10,000 10,000 10,000 0 0 0 0 0 0 0 0 0 0 0 159,228 159,228 153,390 5,838 2,863,377 2,863,377 2,863,376 967,631 967,631 973,468 (5,839) 0 0 0 0 0 60,500 60,500 (2,514,284) (2,514,284) (2,760,074) (245,790) (145,261) (145,261) (145,261) 0 (2,514,284) (2,514,284) (2,760,074) (245,790) (145,261) (145,261) (84,761) 60,500 349,093 349,093 103,302 (245,791) 822,370 822,370 888,707 54,661 2,106,719 (103,302) 0 (103,302) 2,106,719 2,995,426 -61- Public Safety Mill Levy Fund TIF-URD Belgrade Commercial Center Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2372 FUND #2390 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 622,996 622,996 415,811 (207,185) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 200 200 200 0 0 0 0 1,758 1,758 1,759 1 622,996 622,996 415,811 (207,185) 1,958 1,958 1,959 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 622,996 622,996 415,811 (207,185) 1,958 1,958 1,959 1 0 0 0 0 (409,099) (409,099) (409,099) 0 0 (409,099) (409,099) (409,099) 0 0 0 0 0 213,897 213,897 6,712 (207,185) 1,958 1,958 1,959 1 (6,713) 35,796 14 (6,700) 35,796 13 37,755 -62- Permissive Medical Levy Fund Drug Forfeiture Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2394 FUND #2397 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 1,471,633 1,471,633 1,471,632 0 (184) (184) (184) 0 0 0 0 0 0 349 349 0 0 0 0 0 0 0 207,672 207,672 207,671 0 0 0 0 0 0 0 0 0 48,270 48,270 48,269 35,535 35,535 50,564 15,029 1,727,391 1,727,391 1,727,738 347 35,535 35,535 50,564 15,029 0 0 0 0 451,842 451,842 476,267 (24,425) 0 118,119 118,119 118,114 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 569,961 569,961 594,380 (24,419) 0 0 0 0 1,157,430 1,157,430 1,133,358 24,766 35,535 35,535 50,564 15,029 0 0 102,955 102,955 102,955 0 0 (493,140) (493,140) (493,140) 0 (636,298) (636,298) (636,298) 0 (390,185) (390,185) (390,185) 0 (636,298) (636,298) (636,298) 0 767,245 767,245 743,173 24,766 (600,763) (600,763) (585,734) 15,029 463,786 1,042,774 914 (625,151) 464,700 417,623 1,207,872 (168,111) -63- Building Code Enforcement Fund CDBG - 1993 & LATER Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2401 FUND #2402 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4,000 4,000 3,876 (124) 2,500 2,500 2,754 254 25 25 0 (25) 25 25 0 (25) 4,025 4,025 3,876 (149) 2,525 2,525 2,754 229 0 0 0 0 0 0 0 0 0 0 3,876 3,876 5,240 (1,364) 2,754 2,754 2,843 (89) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,876 3,876 5,240 (1,364) 2,754 2,754 2,843 (89) 149 149 (1,364) 1,215 (229) (229) (89) 318 0 0 0 0 0 0 0 0 0 0 0 0 0 0 149 149 (1,364) 1,215 (229) (229) (89) 318 492 387 492 387 (873) 298 -64- Spomer Lighting District 2nd Halverson Addition 1st Filing Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2405 FUND #2406 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,000 2,000 1,421 (579) 4,000 4,000 7,145 3,145 25 25 0 (25) 0 2,025 2,025 1,421 (604) 4,000 4,000 7,145 3,145 0 0 0 0 0 0 0 0 0 0 1,287 1,287 2,843 (1,556) 7,140 7,140 4,265 2,875 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,287 1,287 2,843 (1,556) 7,140 7,140 4,265 2,875 738 738 (1,422) 952 (3,140) (3,140) 2,881 270 0 0 0 0 0 0 0 0 0 0 0 0 0 0 738 738 (1,422) 952 (3,140) (3,140) 2,881 270 1,009 (4,231) 1,009 (4,231) (413) (1,350) -65- Lighting District Fund Greenview Estates Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2409 FUND #2410 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,900 2,900 3,022 122 7,000 7,000 7,140 140 120 120 0 (120) 36 36 0 (36) 3,020 3,020 3,022 2 7,036 7,036 7,140 104 0 0 0 0 0 0 0 0 0 0 0 0 3,127 (3,127) 7,140 7,140 7,260 (120) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,127 (3,127) 7,140 7,140 7,260 (120) 3,020 3,020 (105) 3,130 (104) (104) (120) 224 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,020 3,020 (105) 3,130 (104) (104) (120) 224 10,941 3,125 10,941 3,125 10,836 3,006 -66- Stonebrook Lighting District Fund BallPark Greens Lighting District ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2415 FUND #2419 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,800 3,800 4,561 761 4,300 4,300 5,113 813 25 25 0 (25) 25 25 0 (25) 3,825 3,825 4,561 736 4,325 4,325 5,113 788 0 0 0 0 0 0 0 0 0 0 4,590 4,590 4,148 442 5,100 5,100 5,118 (18) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4,590 4,590 4,148 442 5,100 5,100 5,118 (18) (765) (765) 413 295 (775) (775) 805 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (765) (765) 413 295 (775) (775) 805 2,221 190 2,221 190 2,634 185 -67- Langel Street Lighting District Fund Halverson II Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2420 FUND #2421 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,000 2,000 3,468 1,468 2,200 2,200 3,676 1,476 25 25 0 (25) 25 25 0 (25) 2,025 2,025 3,468 1,443 2,225 2,225 3,676 1,451 0 0 0 0 0 0 0 0 0 0 1,734 1,734 1,706 28 1,836 1,836 1,706 130 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,734 1,734 1,706 28 1,836 1,836 1,706 130 291 291 1,762 1,415 389 389 1,970 1,321 0 0 0 0 0 0 0 0 0 0 0 0 0 0 291 291 1,762 1,415 389 389 1,970 1,321 538 1,755 538 1,755 2,300 3,725 -68- Stonebrook II B Lighting District Fund Stonebrook II A Lighting District ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2422 FUND #2425 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11,500 11,500 12,763 1,263 4,200 4,200 6,272 2,072 25 25 0 (25) 25 25 0 (25) 11,525 11,525 12,763 1,238 4,225 4,225 6,272 2,047 0 0 0 0 0 0 0 0 0 0 12,750 12,750 11,832 918 6,120 6,120 5,732 388 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12,750 12,750 11,832 918 6,120 6,120 5,732 388 (1,225) (1,225) 931 320 (1,895) (1,895) 540 1,659 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1,225) (1,225) 931 320 (1,895) (1,895) 540 1,659 2,573 (2,989) 2,573 (2,989) 3,504 (2,449) -69- BallPark II Ph 1, 2 & 3 Lighting District Fund Lighting District ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2427 FUND #2430 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,500 2,500 3,570 1,070 1,500 1,500 1,530 30 25 25 0 (25) 25 25 0 (25) 2,525 2,525 3,570 1,045 1,525 1,525 1,530 5 0 0 0 0 0 0 0 0 0 0 3,570 3,570 3,319 251 1,530 1,530 1,452 78 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3,570 3,570 3,319 251 1,530 1,530 1,452 78 (1,045) (1,045) 251 794 78 (73) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1,045) (1,045) 251 794 78 (73) 1,940 102,822 1,940 102,822 2,192 102,900 -70- Northview / Creekside Ph 1 Lighting District Fund Creekside Ph 2 Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2431 FUND #2432 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 800 800 1,636 836 1,300 1,300 1,071 (229) 25 25 0 (25) 25 25 0 (25) 825 825 1,636 811 1,325 1,325 1,071 (254) 0 0 0 0 0 0 0 0 0 0 1,632 1,632 1,453 179 2,142 2,142 1,991 151 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,632 1,632 1,453 179 2,142 2,142 1,991 151 (807) (807) 184 632 (817) (817) (920) (405) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (807) (807) 184 632 (817) (817) (920) (405) 727 1,388 727 1,388 910 468 -71- Northview Ph 2 Lighting District Fund 2nd Halverson Ph 3 Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2433 FUND #2434 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,100 2,100 5,115 3,015 10,500 10,500 14,182 3,682 25 25 0 (25) 50 50 0 (50) 2,125 2,125 5,115 2,990 10,550 10,550 14,182 3,632 0 0 0 0 0 0 0 0 0 0 5,100 5,100 4,577 523 14,178 14,178 12,798 1,380 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,100 5,100 4,577 523 14,178 14,178 12,798 1,380 (2,975) (2,975) 538 2,466 (3,628) (3,628) 1,384 2,253 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2,975) (2,975) 538 2,466 (3,628) (3,628) 1,384 2,253 4,918 6,034 4,918 6,034 5,456 7,418 -72- Henson Ph 1 & 2 Lighting District Fund Las Campanas Ph 1-4 Lighting District Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #2438 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 35,000 35,000 40,908 5,908 7,050 7,050 6,649 (401) 150 150 0 (150) 0 35,150 35,150 40,908 5,758 7,050 7,050 6,649 (401) 0 0 0 0 0 0 0 0 0 0 40,902 40,902 36,106 4,796 6,647 6,647 5,859 788 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40,902 40,902 36,106 4,796 6,647 6,647 5,859 788 (5,752) (5,752) 4,802 962 403 403 789 (1,189) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (5,752) (5,752) 4,802 962 403 403 789 (1,189) 6 (4,317) 6 (4,317) 4,808 (3,528) -73- Ryen Glen Ph 1, 2, 4 & Meadowlark Ranch Ryen Glen Ph 3 & 5 Lighting District Fund FUND #2439 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10,900 10,900 13,294 2,394 8,800 8,800 9,195 395 25 25 0 (25) 25 25 0 (25) 10,925 10,925 13,294 2,369 8,825 8,825 9,195 370 0 0 0 0 0 0 0 0 0 0 13,770 13,770 14,035 (265) 9,180 9,180 11,207 (2,027) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13,770 13,770 14,035 (265) 9,180 9,180 11,207 (2,027) (2,845) (2,845) (741) 2,635 (355) (355) (2,011) 2,397 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2,845) (2,845) (741) 2,635 (355) (355) (2,011) 2,397 (12,021) (9,646) (12,021) (9,646) (12,762) (11,657) -74- Henson No. 3 Ph 1 & 2 Lighting District Fund Story Creek Ph 1, 2 & 3 Lighting District Fund FUND #2440 FUND #2441 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6,900 6,900 6,996 96 6,800 6,800 5,270 (1,530) 25 25 0 (25) 25 25 0 (25) 6,925 6,925 6,996 71 6,825 6,825 5,270 (1,555) 0 0 0 0 0 0 0 0 0 0 (7,038) (7,038) 7,162 (14,200) 5,100 5,100 0 5,100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (7,038) (7,038) 7,162 (14,200) 5,100 5,100 0 5,100 13,963 13,963 (166) 14,271 1,725 1,725 5,270 (6,655) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13,963 13,963 (166) 14,271 1,725 1,725 5,270 (6,655) (5,694) 13,709 (5,694) 13,709 (5,860) 18,978 -75- Ryen Glen Ph 6 & 7 Lighting District Fund Ryen Glen Ph 8 Lighting District Fund FUND #2442 FUND #2443 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 364 364 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,000 5,000 5,104 104 956,115 956,115 956,114 25 25 0 (25) (363) (363) (362) 1 5,025 5,025 5,104 79 955,752 955,752 956,116 364 0 0 0 0 0 0 0 0 0 513,372 513,372 551,452 (38,080) 5,100 5,100 11,239 (6,139) 312,668 312,668 279,487 33,181 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 104,875 104,875 105,140 (265) 0 34,778 34,778 34,513 265 0 0 5,100 5,100 11,239 (6,139) 965,693 965,693 970,591 (4,898) (75) (75) (6,135) 6,217 (9,941) (9,941) (14,474) 5,262 0 0 0 287,268 287,268 287,268 0 0 (75,132) (75,132) (75,132) 0 0 0 0 0 212,136 212,136 212,136 0 (75) (75) (6,135) 6,217 202,195 202,195 197,662 5,262 2,766 (29,852) 2,078 2,766 (27,774) (3,369) 169,887 -76- Street Maintenance Prescott Ranch Ph 1 A, B, C Lighting District Fund FUND #2444 FUND #2550 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 470,663 470,663 470,663 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 31,118 31,118 31,117 0 0 0 0 501,781 501,781 501,780 0 0 0 0 0 0 0 0 0 0 0.00 0.00 831.16 (831) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 831 (831) 0 0 0 0 0 0 (831) 831 501,781 501,781 501,780 0 0 0 0 0 0 0 (507,107) (507,107) 0 0 0 0 0 0 (507,107) (507,107) 0 0 (831) 831 501,781 501,781 (5,327) (507,108) 0 437,100 0 437,100 (831) 431,773 -77- West Post Ph 1 & 2 & Frank Road Lighting District Fund Gas Tax Fund FUND #2820 FUND #2600 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 VARIANCE VARIANCE WITH FINAL WITH FINAL BUDGETED AMOUNTS BUDGET BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2,199) (2,199) (2,200) 0 0 0 0 24 24 0 0 0 24 24 (2,199) (2,199) (2,200) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 24 24 (2,199) (2,199) (2,200) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 24 24 (2,199) (2,199) (2,200) 19,512 3,605 19,512 3,605 19,536 1,406 -78- Gas Tax HB#473 Fund Victims Advocate Fund FUND #2821 FUND #2917 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits 323010 Building permits 323050 Other permits Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 334000 State grants 335000/336 State shared revenues 337000 Local grants 338000 Local shared revenues Charges for services 341000 General government 342000 Public safety 345000 Social/economic services 346000 Culture and recreation Fines and forfeitures 351030 City court 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES Current: 410000 General Government: 100 Personal services 200-800 Supplies/services/materials, etc 420000 Public Safety 100 Personal services 200-800 Supplies/services/materials, etc 430000 Public Works 100 Personal services 200-800 Supplies/services/materials, etc 450000 Social and Economic Services 100 Personal services 200-800 Supplies/services/materials, etc 460000 Culture and Recreation 100 Personal services 200-800 Supplies/services/materials, etc 470000 Housing and Community Development 100 Personal services 200-800 Supplies/services/materials, etc 900 Capital expenditures 490000 Debt, Lease, and SBITA Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enteras a negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 TOTALS VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) 5,145,781 5,145,781 4,938,593 (207,188) 1,471,633 1,471,633 1,471,632 (184) (184) (184) 0 125,995 125,995 117,252 (8,743) 10,251 10,251 18,962 8,711 564,788 564,788 566,971 2,183 10,000 10,000 10,000 0 291,288 291,288 291,288 0 147,825 147,825 147,825 0 207,672 207,672 207,671 71,496 71,496 71,494 6,269 6,269 6,267 (1,999) (1,999) (2,000) 2,889,655 2,889,655 2,933,800 44,145 327,854 327,854 334,137 6,283 11,268,324 11,268,324 11,113,709 (154,615) 526,697 526,697 552,334 (25,637) 38,079 38,079 27,727 10,352 451,842 451,842 476,267 (24,425) 118,119 118,119 118,114 5 513,372 513,372 551,452 (38,080) 468,808 468,808 447,335 21,473 209,630 209,630 218,002 (8,372) 112,010 112,010 113,075 (1,065) 1,287,947 1,287,947 1,356,140 (68,193) 353,364 353,364 262,375 90,989 135,043 135,043 135,042 1 14,185 14,185 8,348 5,837 24,524 24,524 96,473 (71,949) - 104,875 104,875 105,140 (265) 34,778 34,778 34,513 265 0 0 0 0 4,393,273 4,393,273 4,502,335 (109,063) 6,875,051 6,875,051 6,611,374 (45,552) 0 0 (111,024) (111,024) 714,391 714,391 1,231,500 517,109 (5,608,525) (5,608,525) (6,361,422) (752,897) (4,894,134) (4,894,134) (5,240,946) (346,812) 1,980,917 1,980,917 1,370,428 (392,365) 5,039,557 (103,302) (612,562) 4,323,693 5,694,121 -79- ---PAGE BREAK--- FUND #3021 FUND #3400 FUND #3578 NONMAJOR DEBT ACCOUNT SERVICE NUMBER DESCRIPTION FUNDS ASSETS 101000 Cash and cash equivalents (550,780) 93,555 805,682 348,457 103000 Petty cash 0 102000 Cash and cash equivalents - restricted 0 Taxes receivable: 113000 Real estate 28,296 28,296 115000 Personal 2,981 2,981 116000 Protested 24 24 118000 Special assessments 276 436,790 437,066 120000 Accounts/other receivables (net of allowance for uncollectibles) 0 140000 Prepaid expense 0 170000 Other debits 480,000 275,000 755,000 Total Assets (39,204) 93,555 1,517,472 1,571,823 DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources 0 Total Deferred Outflows of Resources 0 0 0 0 LIABILITIES 202100 Accounts payable 0 204000 Contracts/loans/notes payable 0 205000 Matured bonds payable 480,000 275,000 755,000 206100 Other accrued payables 0 214000 Deposits payable 0 Total Liabilities 480,000 0 275,000 755,000 DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 0 223000 Deferred Inflows of Tax Revenues 31,576 436,790 468,366 Total Deferred Inflows of Resources 31,576 0 436,790 468,366 FUND BALANCE 250200 Restricted (550,780) 93,555 805,682 348,457 260100 Committed 0 260200 Assigned 0 271000 Unassigned (Negative balance only) 0 0 0 Total Fund Balances (550,780) 93,555 805,682 348,457 Total Liabilities, Deferred Inflows of Resources and Fund Balances (39,204) 93,555 1,517,472 1,571,823 -80- City of Belgrade COMBINING BALANCE SHEET NONMAJOR DEBT SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 Library Expansion Debt Fund SID Revolving Fund SID 78 Sanitary Sewer & Water System Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR DEBT SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 FUND #3021 VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACCOUNT ACTUAL POSITIVE NUMBER DESCRIPTION ORIGINAL FINAL AMOUNTS (NEGATIVE) REVENUES Taxes: 311000/312000 Property taxes 878,454 878,454 1,085,637 207,183 Licenses and permits 0 Intergovernmental revenue (See supplemental section for detail) 0 Charges for services 0 Fines and forfeitures 0 360000 Miscellaneous 0 370000 Investment and royalty earnings 0 Total revenues 878,454 878,454 1,085,637 207,183 EXPENDITURES 490000 Debt and Lease Service 610 Principal 455,000 455,000 455,000 0 620 Interest 713,475 713,475 713,475 0 510000 Miscellaneous 0 Total expenditures 1,168,475 1,168,475 1,168,475 0 Excess of revenues over (under) expenditures (290,021) (290,021) (82,838) 207,183 OTHER FINANCING SOURCES (USES) 382010 Sale of assets 0 383000 Transfers In 0 520000 Transfers out (enter as negative) 0 Total other financing sources (uses) 0 0 0 0 Net change in fund balance (290,021) (290,021) (82,838) 207,183 Fund balances - June 30, 2024, as previously reported (467,942) Change within financial reporting entity (major to nonmajor fund) Error Correction(s) Fund balances - June 30, 2024, as adjusted or restated (467,942) Fund balances - June 30, 2025 (550,780) -81- Library Expansion Debt Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR DEBT SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES 490000 Debt and Lease Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enter as negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error Correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #3400 VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (100,000) (100,000) 0 0 (100,000) (100,000) 0 0 (100,000) (100,000) 193,555 193,555 93,555 -82- SID Revolving Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR DEBT SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES 490000 Debt and Lease Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enter as negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error Correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #3578 VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 367,926 367,926 367,965 39 36,944 36,944 36,944 404,870 404,870 404,909 39 265,000 265,000 265,000 0 47,420 47,420 47,420 0 400 400 400 0 312,820 312,820 312,820 0 92,050 92,050 92,089 39 0 0 0 0 0 0 0 92,050 92,050 92,089 39 713,593 713,593 805,682 -83- SID 78 Sanitary Sewer & Water System Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR DEBT SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures 360000 Miscellaneous 370000 Investment and royalty earnings Total revenues EXPENDITURES 490000 Debt and Lease Service 610 Principal 620 Interest 510000 Miscellaneous Total expenditures Excess of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enter as negative) Total other financing sources (uses) Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to nonmajor fund) Error Correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 TOTALS VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) 878,454 878,454 1,085,637 207,183 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 367,926 367,926 367,965 39 36,944 36,944 36,944 1,283,324 1,283,324 1,490,546 207,222 720,000 720,000 720,000 0 760,895 760,895 760,895 0 400 400 400 0 1,481,295 1,481,295 1,481,295 0 (197,971) (197,971) 9,251 207,222 0 0 0 0 0 0 0 0 0 0 (100,000) (100,000) 0 0 (100,000) (100,000) (197,971) (197,971) (90,749) 107,222 439,206 0 0 439,206 348,457 -84- ---PAGE BREAK--- FUND #4010 FUND #4011 FUND #4020 NONMAJOR CAPITAL ACCOUNT PROJECTS NUMBER DESCRIPTION FUNDS ASSETS 101000 Cash and cash equivalents 2,513,129 708,367 341,183 3,562,678 103000 Petty cash 0 102000 Cash and cash equivalents - restricted 0 Taxes receivable: 113000 Real estate 1 1 120000 Accounts/other receivables (net of allowance for uncollectibles) 0 140000 Prepaid expense 0 170000 Other debits 0 TOTAL ASSETS 2,513,129 708,367 341,185 3,562,680 DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources 0 Total Deferred Outflows of Resources 0 0 0 0 LIABILITIES 202100 Accounts payable 1,125,711 58,209 276,327 1,460,247 204000 Contracts/loans/notes payable 0 205000 Matured bonds payable 0 206100 Other accrued payables 0 214000 Deposits payable 0 TOTAL LIABILITIES 1,125,711 58,209 276,327 1,460,247 DEFERRED INFLOWS OF RESOURCES 220000 Deferred Inflows of Resources 0 223000 Deferred Inflows of Tax Revenues 1 1 Total Deferred Inflows of Resources 0 0 1 1 FUND BALANCE 250200 Restricted 0 260100 Committed 0 260200 Assigned 1,387,418 650,158 64,856 2,102,432 271000 Unassigned (Negative balance only) 0 Total Fund Balances 1,387,418 650,158 64,856 2,102,432 Total Liabilities, Deferred Inflows of Resources and Fund Balances 2,513,129 708,367 341,185 3,562,680 -85- City of Belgrade Capital Improvement Program Fund Park District Capital Improvement Library Capital Improvement Project Fund COMBINING BALANCE SHEET NONMAJOR CAPITAL PROJECTS FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR CAPITAL PROJECTS FUNDS FISCAL YEAR ENDING JUNE 30, 2025 FUND #4010 VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACCOUNT ACTUAL POSITIVE NUMBER DESCRIPTION ORIGINAL FINAL AMOUNTS (NEGATIVE) REVENUES Taxes: 311000/312000 Property taxes 0 Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants 294,211 294,211 238,650 (55,561) Charges for services 0 360000 Miscellaneous 365000 Contributions/donations 0 370000 Investment and royalty earnings 118,920 118,920 118,918 Total revenues 413,131 413,131 357,568 (55,563) EXPENDITURES 510000 Miscellaneous 8,956,017 8,956,017 7,447,410 1,508,607 900-950 Capital expenditures 0 Total expenditures 8,956,017 8,956,017 7,447,410 1,508,607 Excess of revenues over (under) expenditures (8,542,886) (8,542,886) (7,089,842) 1,453,044 OTHER FINANCING SOURCES (USES) 382010 Sale of assets 0 383000 Transfers In 7,899,309 7,899,309 6,537,517 (1,361,792) 520000 Transfers out (enter as negative) (1,879,344) (1,879,344) Total other financing sources (uses 7,899,309 7,899,309 4,658,173 (3,241,136) Net change in fund balance (643,577) (643,577) (2,431,669) (1,788,092) Fund balances - June 30, 2024, as previously reported 3,818,900 Change within financial reporting entity (major to Error correction(s) 186 Fund balances - June 30, 2024, as adjusted or restated 3,819,086 Fund balances - June 30, 2025 1,387,418 -86- Capital Improvement Program Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR CAPITAL PROJECTS FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants Charges for services 360000 Miscellaneous 365000 Contributions/donations 370000 Investment and royalty earnings Total revenues EXPENDITURES 510000 Miscellaneous 900-950 Capital expenditures Total expenditures Excess of revenues over (under) expenditures OTHER FINANCING SOURCES (US 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enter as negative) Total other financing sources (uses Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #4011 VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 17,442 17,442 3,000 3,000 21,709 18,709 3,000 3,000 39,151 36,151 10,000 10,000 81,151 (71,151) 50,000 50,000 0 50,000 60,000 60,000 81,151 (21,151) (57,000) (57,000) (42,000) 15,000 0 252,322 252,322 252,322 0 0 252,322 252,322 252,322 0 195,322 195,322 210,322 15,000 439,836 439,836 650,158 -87- Park District Capital Improvement Program Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR CAPITAL PROJECTS FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants Charges for services 360000 Miscellaneous 365000 Contributions/donations 370000 Investment and royalty earnings Total revenues EXPENDITURES 510000 Miscellaneous 900-950 Capital expenditures Total expenditures Excess of revenues over (under) expenditures OTHER FINANCING SOURCES (US 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enter as negative) Total other financing sources (uses Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 FUND #4020 VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 0 0 175,000 175,000 175,000 0 (151,383) (151,383) (151,383) 23,617 23,617 23,617 0 250,619 250,619 218,085 32,534 6,255,509 6,255,509 6,288,040 (32,531) 6,506,128 6,506,128 6,506,126 2 (6,482,511) (6,482,511) (6,482,508) 3 0 1,284,554 1,284,554 1,377,178 92,624 0 1,284,554 1,284,554 1,377,178 92,624 (5,197,957) (5,197,957) (5,105,330) 92,627 5,173,278 (3,091) 5,170,187 64,856 -88- Library Capital Improvement Project Fund ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR CAPITAL PROJECTS FUNDS FISCAL YEAR ENDING JUNE 30, 2025 ACCOUNT NUMBER DESCRIPTION REVENUES Taxes: 311000/312000 Property taxes Intergovernmental revenue (See supplemental section for detail) 331000 Federal grants Charges for services 360000 Miscellaneous 365000 Contributions/donations 370000 Investment and royalty earnings Total revenues EXPENDITURES 510000 Miscellaneous 900-950 Capital expenditures Total expenditures Excess of revenues over (under) expenditures OTHER FINANCING SOURCES (US 382010 Sale of assets 383000 Transfers In 520000 Transfers out (enter as negative) Total other financing sources (uses Net change in fund balance Fund balances - June 30, 2024, as previously reported Change within financial reporting entity (major to Error correction(s) Fund balances - June 30, 2024, as adjusted or restated Fund balances - June 30, 2025 TOTALS VARIANCE WITH FINAL BUDGETED AMOUNTS BUDGET ACTUAL POSITIVE ORIGINAL FINAL AMOUNTS (NEGATIVE) 0 0 0 0 294,211 294,211 238,650 (55,561) 0 0 0 0 175,000 175,000 192,442 17,442 (29,463) (29,463) (10,756) 18,707 439,748 439,748 420,337 (19,411) 9,216,636 9,216,636 7,746,647 1,469,989 6,305,509 6,305,509 6,288,040 17,469 15,522,145 15,522,145 14,034,687 1,487,458 (15,082,397) (15,082,397) (13,614,350) 1,468,047 0 0 0 0 9,436,185 9,436,185 8,167,017 (1,269,168) 0 0 (1,879,344) (1,879,344) 9,436,185 9,436,185 6,287,673 (3,148,512) (5,646,212) (5,646,212) (7,326,677) (1,680,465) 4,258,736 5,173,278 (2,905) 9,429,109 2,102,432 -89- ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 TOTAL Account FUND #6009 FUND #6010 INTERNAL Number Description Facilities Maintenance Fleet Services SERVICE ASSETS Current Assets 101000 Cash and cash equivalents (3,008,209) 211,753 (2,796,456) 103000 Petty cash 0 120000 Accounts/other receivables (net of allowance for uncollectibles) 303 303 132000 Due from other governments 0 Total Current Assets (3,007,906) 211,753 (2,796,154) Noncurrent Assets Restricted Assets: 102200 Cash and cash equivalents 0 180000 Capital assets: Land 0 Construction in progress 0 Buildings 1,669,663 1,669,663 Improvements other than buildings 0 Machinery and equipment 0 1,542,273 1,542,273 Infrastructure 0 Less: accumulated depreciation (17,691) (275,936) (293,627) 18X500 Capital assets - leased with right to use 0 Leased capital assets 222,808 222,808 180000 Capital assets - net of accumulated depreciation 1,874,780 1,266,337 3,141,117 Total Noncurrent Assets 1,874,780 1,266,337 3,141,117 Total Assets (1,133,126) 1,478,090 344,963 DEFERRED OUTFLOWS OF RESOURCES 19xxxx Deferred Outflows of Resources - OPEB 0 19xxxx Deferred Outflows of Resources 0 Total Deferred Outflows of Resources 0 0 0 LIABILITIES Current Liabilities 202100 Accounts payable 41,641 38,968 80,609 204300 Leases payable 11,578 11,578 205000 Matured bonds payable 0 206100 Other accrued payables 12,764 12,764 209100 Compensated absences 10,960 10,960 214000 Deposits payable 0 Total Current Liabilities 76,943 38,968 115,911 Noncurrent Liabilities 231000 Bonds payable 0 235000 Contracts/loans/notes payable 0 235500 Leases payable 201,117 201,117 237000 Net Pension Liability 0 238000 OPEB Liability 0 239000 Compensated absences 29,290 29,290 Total Noncurrent Liabilities 230,407 0 230,407 Total Liabilities 307,351 38,968 346,319 DEFERRED INFLOWS OF RESOURCES 22xxxx Deferred Inflows of Resources - Other 0 Total Deferred Inflows of Resources 0 0 0 NET POSITION Net Investment in capital assets 1,662,085 1,266,337 2,928,422 Restricted for: Debt Service 0 Unrestricted (3,102,562) 172,785 (2,929,777) Total Net Position (1,440,477) 1,439,122 (1,355) -90- ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGE IN NET POSITION INTERNAL SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 TOTAL Account FUND #6009 FUND #6010 INTERNAL Number Description Facilities Maintenance Fleet Services SERVICE OPERATING REVENUES 340000 Charges for services 0 360000 Miscellaneous revenues 191 191 Total Operating Revenues 191 0 191 OPERATING EXPENSES 100 Personal services 325,793 325,793 200 Supplies 48,401 153,783 202,184 300 Purchased services 262,192 130,790 392,982 400 Building materials 0 500 Fixed charges 151,715 22,964 174,679 830 Depreciation and amortization 16,687 131,541 148,227 Total Operating Expenses 804,788 439,078 1,243,866 Operating Income (Loss) (804,597) (439,078) (1,243,675) NONOPERATING REVENUES (EXPENSES) 330000 Intergovernmental revenue 220 220 371000 Interest gain or loss (loss is negative) (22,463) 227 (22,236) 382030 Gain or loss on sale of capital assets (loss is negative) (1,376,422) 5,749 (1,370,674) 490000 Debt service interest expense (enter as negative) (7,295) (7,295) Total Operating Revenues (Expenses) (1,405,960) 5,976 (1,399,985) Income (Loss) before contributions and transfers (2,210,558) (433,102) (2,643,660) Transfers in (out) 634,587 437,272 1,071,859 Change in net position (1,575,971) 4,170 (1,571,801) Total net position - July 1, 2024 as previously reported 138,284 1,421,970 1,560,253 Error Correction(s) (2,790) 12,982 10,192 Fund Balances, July 1, 2024 as adjusted or restated 135,494 1,434,952 1,570,445 Total net position - June 30, 2025 (1,440,477) 1,439,122 (1,355) -91- ---PAGE BREAK--- City of Belgrade COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FISCAL YEAR ENDING JUNE 30, 2025 FUND #6009 FUND #6010 Description Facilities Maintenance Fleet Services TOTALS CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers 191 0 191 Cash paid to suppliers (454,952) (287,219) (742,171) Cash paid to employees (303,259) 0 (303,259) Net cash provided (used) by operating activities (758,020) (287,219) (1,045,239) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers from (to) other funds 634,587 437,272 1,071,859 Subsidies from taxes and other governments 220 0 220 Net cash provided (used) by capital and related financing activities 634,807 437,272 1,072,079 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchases/acquisition/construction of capital assets (1,610,657) (551,704) (2,162,361) Principal on debt, leases, and SBITAs (enter as a negative) (10,113) (10,113) Interest paid on debt, leases, & SBITAS (enter as negative) (7,295) 0 (7,295) Proceeds from sales of capital assets (1,376,422) 5,749 (1,370,674) Net cash provided (used) by capital and related financing activities (3,004,488) (545,955) (3,550,443) CASH FLOWS FROM INVESTING ACTIVITIES Interest earnings (22,463) 227 (22,236) Net cash provided (used) by investing activities (22,463) 227 (22,236) Net increase (decrease) in cash and cash equivalents (3,150,164) (395,675) (3,545,839) Cash and cash equivalents - July 1, 2024 141,955 607,428 749,382 Cash and cash equivalents - June 30, 2025 (3,008,209) 211,753 (2,796,456) Reconciliation of operating income to net cash provided (used by operating activities): Operating income (804,597) (439,078) (1,243,675) Adjustments to reconcile operating income to net cash provided (used) by operating activities Depreciation expense 16,687 131,541 148,227 (Increase) decrease in accounts receivable 0 Increase (decrease) in customer deposits 0 Increase (decrease) in accounts payable 7,356 20,318 27,675 Increase (decrease) in compensated absences pay. 22,534 22,534 Total adjustments 46,577 151,859 198,436 Net cash provided (used) by operating activities (758,020) (287,219) (1,045,239) -92- ---PAGE BREAK--- REVENUE RECEIVING GRANT AMOUNT CODE FUND AMOUNT FEDERAL GRANTS/ENTITLEMENTS - (LIST) Highway Safety Program 15,000 [PHONE REDACTED] 14,255 Nutrition Services Incentive Program 2,401 [PHONE REDACTED] 2,401 Special Programs for the Aging, Title III, Part B 48,169 [PHONE REDACTED] 48,169 Special Programs for the Aging, Title III, Part C 66,682 [PHONE REDACTED] 66,682 ARPA Water & Sewer Minimum Allocation Grant 1,373,285 [PHONE REDACTED] 238,650 Drinking Water State Revolving Fund 12,218,000 [PHONE REDACTED] - Total Federal Grants/Entitlements 13,723,537 370,157 FEDERAL SHARED REVENUES - (LIST) Total Federal Shared Revenues - - STATE GRANTS/ENTITLEMENTS - (LIST) Broad Valley Foundation 2,552 [PHONE REDACTED] 2,551 State Aid Grant 7,669 [PHONE REDACTED] 7,669 State Aging Services 8,742 [PHONE REDACTED] 8,742 Total State Grants/Entitlements 18,963 18,962 STATE SHARED REVENUES - (LIST) Gambling Machine Permit [PHONE REDACTED] 17,075 State Entitement Share HB124 [PHONE REDACTED] 978,707 State on Behalf [PHONE REDACTED] 578,449 State on Behalf [PHONE REDACTED] 471 State Entitement Share HB124 [PHONE REDACTED] 51,511 State on Behalf [PHONE REDACTED] 377 State Entitement Share HB124 [PHONE REDACTED] 16,277 State on Behalf [PHONE REDACTED] 470 State on Behalf [PHONE REDACTED] 151 State Entitement Share HB124 [PHONE REDACTED] 26,337 State on Behalf [PHONE REDACTED] 349 State on Behalf [PHONE REDACTED] 364 Gas Tax Apportionment [PHONE REDACTED] 470,663 State on Behalf [PHONE REDACTED] 644 State on Behalf [PHONE REDACTED] 508 State on Behalf [PHONE REDACTED] 220 Total State Shared Revenues - 2,142,574 LOCAL GRANTS - (LIST) Cook Foundation Grant 10,000 [PHONE REDACTED] 10,000 Gallatin County Contribution [PHONE REDACTED] 257,788 Gallatin County Contribution [PHONE REDACTED] 33,500 Total Local Grants Revenues 10,000 301,288 TOTAL 13,752,500 2,832,981 City of Belgrade SCHEDULE OF FEDERAL/STATE GRANTS, ENTITLEMENTS, AND SHARED REVENUES FISCAL YEAR ENDING JUNE 30, 2025 -93- ---PAGE BREAK--- GENERAL INFORMATION SECTION ---PAGE BREAK--- GENERAL INFORMATION (Complete all portions applicable to entity) 1. Class of county/city 1st class 2. Date of incorporation 1906 3. County seat Bozeman 4. Form of government Council - Manager 5. Population (most recent estimate) 12,741 6. Land area 4.86 square miles 7. Miles of roads/streets/alleys 200 lane miles 8. Taxable valuation 38,992,201 9. Road taxable valuation (county) Not applicable 10. Number of water consumers 6853 11. Average daily water consumption 67,168,113 12. Miles of water main 75 13. Miles of sanitary and storm sewers 50 14. Number of building permits issued 236 15. Number of full-time employees 104 B. PROPERTY TAX MILL LEVIES - City funds only (For fiscal year being reported) Fund/activity Mills 1000 - General Fund 61.62 2225 - Library Fund 13.64 2250 - Planning Fund 3.86 2300 - Public Safety Mill Levy Fund 68.00 2372 - Permissive Medical Levy Fund 10.43 3021 - Library Expansion Debt 30.71 TOTAL 188.26 -94-