Document Blackfoot_doc_7764553ada

I n c o r p o r a t e d 1 9 0 1 G R E A T S E A L O F T H E C I T Y O F B L A C K F O O T SEPTEMBER 30, 2015 ---PAGE BREAK--- ---PAGE BREAK--- The Blackfoot Fire Department purchased a piece of ground on the corner of Pendlebury and Cromwell to be able to put a remote Fire Station on the East side of the tracks. This alleviates having to get around the train in emergency situations. — 3 — Blackfoot Now and in 10 Years Fire Department ---PAGE BREAK--- — 4 — ---PAGE BREAK--- — 5 — CITY OF BLACKFOOT AUDITED FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 2015 TABLE OF CONTENTS INTRODUCTORY SECTION Page Number Letter from the Mayor 9 Letter of 11-13 Organizational 15 List of Principal Officials 16 FINANCIAL SECTION Auditor’s Opinion 19-21 Management’s Discussion and Analysis (Required Supplementary 23-31 Basic Financial Statements: Government-Wide Financial Statements: Statement of Net 33 Statement of Activities 34-35 Fund Financial Statements: Balance Sheet – Governmental Funds 38-39 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds 40-41 Reconciliation of the Statement of Revenues, Expenditures, and Changes In Fund Balances of Governmental Funds to the Statement of 42 Proprietary Funds: Statement of Net 43 Statement of Revenues, Expenses and Changes in Net 44 Statement of Cash 45 Fiduciary Funds: Statement of Net Position — Clerks Trust 46 Notes to the Financial Statements 47-61 ---PAGE BREAK--- — 6 — CITY OF BLACKFOOT AUDITED FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 2015 TABLE OF CONTENTS continued Required Supplemental Information: Schedule of Employer’s Share of Net Pension Liability 65 Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual – General Fund 66-68 Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual – Street Fund 69 Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual – Ambulance Fund 70 Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual – Parks and Recreation Fund 72-73 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Water Capital 74 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Wastewater Capital Fund 75 Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual – Blackfoot Urban Renewal 76 Supplemental Information: Combining Balance Sheet - Non-Major Governmental Funds 80-81 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Non-Major Governmental 82-83 Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual – Airport Fund 84 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Cemetery Fund 84 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Library 85 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Capital Improvements 86 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Fire and Ambulance Replacement 87 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Golf Course Capital Fund 88 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Street Capital Fund 89 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Sanitation Capital 91 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Library Capital 92 Schedule of Revenue, Expenditures and Changes in Fund Balances Budget and Actual – Health Care Reserve Fund 93 Single Audit Section: Auditor’s Opinion 96 Schedule of Expenditures of Federal Awards 101 Schedule of Findings and Questioned 102 ---PAGE BREAK--- Blackfoot Now and in 10 Years Parks & Recreation — 7 — 2015 2015 Introduction Courtyard Square currently has a fountain in it. It is an expense for the city and a maintenance nightmare. The City would like to put a splash pad into that location in order to make it a fun family activity location. ---PAGE BREAK--- — 8 — ---PAGE BREAK--- — 9 — Paul Loomis Mayor [EMAIL REDACTED] 5 January 2016 To: The Citizens and City Council Members of the City of Blackfoot Often I tell people that Blackfoot is the “Center of the Universe.” When you look at the population, demographics, and geology of East Idaho the center place is Blackfoot. People could see that early on, it is why the Rail Road terminated the north line here in the 1800’s. The fact that Blackfoot is the center place is why the future of Blackfoot is so bright. As the economy continues to improve we see job gains and declining unemployment nationwide. Further improvement has been confirmed by the Fed’s beginning to gradually adjust interest rates for the first time in almost 10 years and the inflation rates are lagging behind the 2% target number. This all indicates we will continue to see at least a minimum gradual growth but most likely a heating of the economy. Now is the time for us to prepare our infrastructure to meet the needs of the future growth that will surely come to Blackfoot and Bingham County. We need to have streets that meet transportation needs, water available for growth and the ability to treat waste water as new industry comes and the population increases. I honestly believe the population of Blackfoot could double in the next ten years and if so our goal is to be prepared to meet that challenge. Our goal in growth of the City is also to maintain the traditional values that sets Blackfoot apart as a desirable place to live. We will work hard to preserve the quality of life that is enjoyed by those using our parks, walk ways, pool and recreational areas. To me Blackfoot is the center of the universe and the “secret” is out, this is the place to live, work, educate and raise children. The next 10 years will be exciting and challenging but Blackfoot is up to the task. Blackfoot and beyond, the future is bright! Very Respectfully, Paul M. Loomis Mayor, City of Blackfoot ---PAGE BREAK--- — 10 — ---PAGE BREAK--- — 11 — Heather Schild Treasurer [EMAIL REDACTED] January 11, 2016 To the Honorable Mayor Paul Loomis, members of the Governing City Council, and Citizens of the City of Blackfoot; The City of Blackfoot is a great place to live. There is no better place to raise a family. However, the City needs to look to the future. What can we do to make Blackfoot a better place? Whether it be fixing our roads, to more Recreation activities for the youth, it is our responsibility to look to the future and make improvements. The 2015 Financial Statement’s theme is Blackfoot Now and in 10 years. The things that the current administration would like to see happen in our wonderful city. It is with great pleasure that I present to you the Annual Financial Report for the City of Blackfoot for the Fiscal year ending September 30, 2015. This report has been prepared pursuant to, and to demonstrate compliance with, section 67-450B, Idaho Code. The Financial Report is in conformance with the standards for financial reporting of the Government Accounting Standards Board (GASB) and the Government Finance Officers Association of the United States and Canada. (GFOA). Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of my knowledge and belief, the enclosed information is accurate in all material respects and is reported in a manner designed to present fairly the financial position of the City. All disclosures necessary to enable an understanding of the City’s financial activities have been included. The City’s basic financial statements have been audited by Jones, Yost, Hatt, and Erickson P.A., an independent certified public accounting firm. The goal of the independent audit was to provide reasonable assurance that the basic financial statements for the City for the fiscal year ended September 30, 2015, are free of material misstatement. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unqualified opinion that the City’s basic financial statements for the fiscal year ended September 30, 2015, are fairly presented in conformity with Generally Accepted Accounting Principles (GAAP). The independent auditors’ report is presented as the first component of the financial section of this report. GAAP require that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of the Management’s Discussion and Analysis (MD&A). The MD & A provides “financial highlights” and interprets the financial reports by analyzing trends and by explaining changes, fluctuations and variances in the financial ---PAGE BREAK--- — 12 — data. In addition, the MD & A is intended to disclose any known significant events or decisions that affect the financial condition of the City. This letter of transmittal is designed to complement the MD &A and should read in conjunction with it. The City’s MD & A can be found immediately following the report of the independent auditors. There are two main sections in this report: The Introductory Section includes the transmittal letter, a message from the office of the Mayor, a list of elected officials, and the City’s organizational chart. The Financial Section includes the independent auditors’ report, MD & A, basic financial statements for the City, required supplementary information, as well as other supplementary information. ACCOUNTING SYSTEM INTERNAL CONTROLS AND BUDGETARY CONTROL The City of Blackfoot uses a fully computerized Accounting Information Management System (AIMS). This system is based on a single input of information. The AIMS system provides: 1) integrated, general and subsidiary accounting of all funds; 2) appropriation accounting and control; and 3) the ability to generate cost/expenditure data in a multitude of formats useful for budgetary control and other managerial purposes. In developing and evaluating the City’s accounting system, consideration was given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding: • The safeguarding of assets against loss from unauthorized use or disposition • The reliability of financial records for preparing financial statements and maintaining accountability for assets. • The concept of reasonable assurance recognizes that: • The cost of a control should not exceed the benefits likely to be derived, and • The evaluation of assets and benefits requires estimates and judgments by management. All internal control evaluations occur within this framework. Therefore, the Treasurer’s Office believes that the City’s internal accounting controls adequately safeguard assets and provide reasonable assurance of the proper recording of financial transactions. Through annual appropriations, the City maintains budgetary control at the fund level. Cost classifications are categorized such that the nature of the services is adequately reflected. BUDGET PROCESS The City’s fiscal year is October 1 through September 30. The budget process begins in the preceding May with a revenue forecast for the upcoming fiscal year. By June, department budget requests are submitted to the Mayor’s Office and the review process begins immediately. The Mayor and Treasurer work closely in developing, within forecasted fund carry forward and revenue constraints, the proposed budget which is recommended to the City Council for tentative approval. The Council may propose changes in the budget and then should tentatively approve it to be published for public hearing. After publication, the budget appropriations may be decreased but not increased. The approved and final budget and corresponding current year property tax levy must be certified with the Bingham County Clerk’s Office no later than the Thursday preceding the second Monday in September of each year. ---PAGE BREAK--- — 13 — ECONOMIC OUTLOOK Though the economic outlook for the year ending in 2015 is clouded with uncertainties, the City of Blackfoot leadership remains cautiously optimistic the Great Recession of the past four years is ending and that a modest recovery is on its way. Understanding that there will still be some lingering effects of that recession into the next fiscal year, the Mayor and his management team will continue to respond with sound preparation, flexible budget strategies, and close collaboration between city leaders and the citizens of Blackfoot. RISK MANAGEMENT The City used a combination of insurance and self-insurance for risk protection. Certain coverage has been obtained for high-risk activities or as required by law. All general liability cases are first handled in the Administrative Office. The City Clerk and Treasurer along with the City Attorney attempt to settle or defend all claims made against the City. Each year an appropriation is made to an administrative account which is used to mitigate any claims. The City has implemented programs to assure continued municipal and government services, which could be jeopardized by the escalating costs of insurance and/or exposure to claims and judgments. Additionally, the administrative office helps to process and mitigate all workers’ compensation liabilities. The City is also partially self-insured for its employee’s health insurance. A separate account has been established to account for payment of health insurance claims for participants from the reserve balance. INTERNAL CONTROL It is the responsibility of the Treasurer to provide the City officials and taxpayers with reasonable assurance that public funds and property are adequately safeguarded and that financial transactions are authorized and properly recorded. The finance department, under the direction of the Treasurer, routinely observes and checks for appropriate methods employed by the city departments to safeguard the assets, enduring the reliability of the accounting data, promoting efficient operations and ensuring compliance with established ordinances of the City of Blackfoot. ACKNOWLEDGEMENT I would like to express my gratitude to the staff members of the administration and finance office whose dedication to their work make the preparation of this report possible. I also extend my appreciation for the many hours of professional service by the independent accounting firm of Jones, Yost, Hatt, and Erickson P.A. that enabled this report to be produced. Respectfully submitted, Heather Schild City of Blackfoot Treasurer ---PAGE BREAK--- — 14 — ---PAGE BREAK--- — 15 — City of Blackfoot, Idaho MAYOR Paul Loomis Councilman Jan Simpson Councilman Christopher Jensen Councilman Skip Gardner Councilman Bart Brown Administration City Clerk City Attorney City Treasurer Public Works Director City Engineer Public Safety Police Chief Fire Chief Golf Course Building Inspection Planning & Zoning Administrator Library Director Cemetery Sexton Swimming Pool Streets & Sanitation Sewer Water Airport Parks & Recreation Superintendent ---PAGE BREAK--- — 16 — City of BLACKFOOT LIST OF PRINCIPAL OFFICIALS Mayor – Council Form of Government CITY COUNCIL PAUL LOOMIS Mayor JAN SIMPSON BART BROWN Council Member Council Member CHRISTOPHER JENSEN SKIP GARDNER Council Member Council Member CITY ADMINISTRATION Suzanne McNeel, City Clerk Garrett Sandow, City Attorney Heather Schild, City Treasurer Kurt Asmus, Police Chief Kevin R. Gray, Fire Chief R. Scott Hays, Parks Superintendent Rex L. Orgill, Planning and Zoning/Building Inspector Phillip Meline, Cemetery Sexton ---PAGE BREAK--- — 17 — 2015 2015 Financial Section Blackfoot Now and in 10 Years Blackfoot Library Libraries are becoming a thing of the past with people being able to purchase books on their e-readers. The Blackfoot Library would like to be able to have an assortment of books that people can put on their e-readers for a time period, just like borrowing a book now. Once the time period expires, the book comes off the e-reader and is available for another patron to check out. The library would also be able to offer e-readers. ---PAGE BREAK--- — 18 — ---PAGE BREAK--- — 19 — ---PAGE BREAK--- — 20 — ---PAGE BREAK--- — 21 — ---PAGE BREAK--- — 22 — PAGE LEFT INTENTIIONALLY BLANK ---PAGE BREAK--- — 23 — ---PAGE BREAK--- — 24 — ---PAGE BREAK--- — 25 — ---PAGE BREAK--- — 26 — ---PAGE BREAK--- — 27 — ---PAGE BREAK--- — 28 — ---PAGE BREAK--- — 29 — ---PAGE BREAK--- — 30 — ---PAGE BREAK--- — 31 — ---PAGE BREAK--- — 32 — Page Left Intentionally Blank ---PAGE BREAK--- — 33 — CITY OF BLACKFOOT STATEMENT OF NET POSITION SEPTEMBER 30, 2015 Total Totals Governmental Business-type Primary Blackfoot Urban Reporting ASSETS: Activities Activities Government Renewal Agency Entity Current Assets: Cash and investments $ 5,562,109 $ 3,766,587 $ 9,328,696 $ 1,290,231 $ 10,618,927 Property taxes receivable 192,,723 192,723 9,663 202,386 Other receivables 451,171 13,380 464,551 464,551 Utility accounts receivable, net 582,184 582,184 582,184 Non Current Assets: Restricted cash 172,000 172,000 172,000 Capital assets, net 14,937,492 15,490,586 30,428,078 30,428,078 Total assets 21,143,495 20,024,737 41,168,232 1,299,894 42,468,126 DEFERRED OUTFLOWS: Deferred PERSI outflow of resources 601,015 136,689 737,704 0 737,704 LIABILITIES: Current liabilities: Accounts payable 541,753 269,131 810,884 8,502 819,386 Accrued leave 302,624 58,484 361,108 361,108 Note payments EPA due within one year 172,918 172,918 172,918 Revenue bonds due within one year 205,000 205,000 50,000 255,000 Lease payments due within one year 68,998 68,998 68,998 Noncurrent liabilities: Note payable EPA due beyond one year 3,221,359 3,221,359 3,221,359 Revenue bonds due beyond one year 650,000 650,000 805,000 1,455,000 City’s share of unfunded PERSI liability 1,324,868 301,316 1,626,184 1,626,184 Total liabilities 2,238,243 4,878,208 7,116,451 863,502 7,979,953 DEFERRED OUTFLOWS: Deferred PERSI inflow of resources 854,559 194,353 1,048,912 0 1,048,912 NET ASSETS: Invested in capital assets, net of related debt 14,868,494 11,241,309 26,109,803 26,109,803 Restricted 172,000 172,000 172,000 Assigned - Capital Improvements 3,680,785 3,680,785 3,680,785 Committed (195,573) 3,675,556 3,479,983 436,392 3,916,375 Unassigned 298,002 298,002 298,002 Total net position $ 18,651,708 $ 15,088,865 $ 33,740,573 $ 436,392 $ 34,176,965 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- Program Revenues Charges for Grants and Expenses Services Contributions Primary Government: Governmental Activities: General government $ 1,286,717 $ 401,214 $ 10,000 Public safety 5,950,445 2,212,926 36,340 Parks and recreation 1,456,466 535,556 20,000 Library 409,537 201,392 800 Highways and streets 1,376,009 85,337 Airport 225,553 57,087 402,050 Interest - on long-term debt 1,761 Total governmental activities 10,706,488 3,493,512 469,190 Business-type Activities: Water 1,391,592 1,876,113 Sewer 2,209,027 2,958,931 254,776 Sanitation 972,995 1,212,858 Interest - on long-term debt 85,111 Total business-type activities 4,658,725 6,047,902 254,776 Total Primary Government $15,365,213 $9,541,414 $ 723,966 Component Units: Interest on long term debt $ 63,800 Blackfoot Urban Renewal Agency 130,943 100 $ 194,743 $ 100 $ 0 General Revenues: Property taxes Sales and uses tax County road and bridge State of Idaho revenue sharing State of Idaho liquor receipts State highway user collections Investment earnings Sale of assets Admin charges Net PERSI pension plan revenue Transfers Property transfer - BURA Total general revenues and transfers Change in net position Net Position October 1, 2014 Net Position SEPTEMBER 30, 2015 — 34 — CITY OF BLACKFOOT STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2015 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- Net (Expense) Revenue and Changes in Net Assets Primary Government Blackfoot Governmental Business-type Urban Renewal Activities Activities Total Agency $ (875,503) $ (875,503) (3,701,179) (3,701,179) (900,910) (900,910) (207,345) (207,345) (1,290,672) (1,290,672) 233,584 233,584 (1,761) (1,761) (6,743,786) (6,743,786) $ 484,521 484,521 1,004,680 1,004,680 239,863 239,863 (85,111) (85,111) 1,643,953 1,643,953 (5,099,833) $ (63,800) (130,843) 3,816,904 3,816,904 573,078 501,257 501,257 38,639 38,639 407,089 407,089 146,425 146,425 414,054 414,054 74,038 67,133 141,171 1,060 9,457 9,457 635,518 635,518 91,190 20,740 111,930 1,000,000 (1,000,000) 0 112,593 112,593 (112,593) 7,247,164 (912,127) 6,335,037 266,902 503,378 731,826 1,235,204 266,902 18,148,330 14,357,039 32,505,369 169,490 $18,651,708 $15,088,865 $33,740,573 $ 436,392 — 35 — The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 36 — The accompanying notes are an integral part of these statements. Parks and General Street Ambulance Recreation ASSETS: Fund Fund Fund Fund Cash and investments $ 223,297 $ 550,109 $ 64,464 Receivables: Property taxes 154,843 8,248 10,552 Bingham County 115,853 21,295 8,409 State of Idaho 108,947 111,619 Other 1,000 Grants receivable Groveland Water and Sewer District 3,572 Due from other funds 481,778 Total assets $1,089,290 $ 691,271 $ 0 $ 83,425 LIABILITIES: Accounts payable $ 263,832 $ 21,084 $ 22,925 $ 74,148 Due to other funds 396,203 Deferred revenue 136,295 6,852 9,277 Total liabilities 400,127 27,936 419,128 83,425 FUND BALANCE: Assigned - Capital Improvements Assigned - Connection Fees Committed 663,335 Unassigned 689,163 (419,128) 0 Total fund balance 689,163 663,335 (419,128) 0 Total liabilities and fund balance $1,089,290 $ 691,271 $ 0 $ 83,425 CITY OF BLACKFOOT BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 37 — The accompanying notes are an integral part of these statements. Water Wastewater Other Total Blackfoot Capital Capital Governmental Primary Urban Renewal Fund Fund Funds Government Agency $1,800,000 $1,000,000 $ 1,924,239 $ 5,562,109 $ 1,290,231 19,080 192,723 9,663 7,687 153,244 220,566 1,000 72,789 72,789 3,572 481,778 $1,800,000 $1,000,000 $ 2,023,795 $ 6,687,781 $ 1,299,894 $ 159,764 $ 541,753 $ 8,502 85,575 481,778 16,785 169,209 9,454 $ 0 $ 0 262,124 1,192,740 17,956 1,800,000 930,660 880,785 3,611,445 69,340 69,340 880,886 1,544,221 1,281,938 270,035 1,800,000 1,000,000 1,761,671 5,495,041 1,281,938 $1,800,000 $1,000,000 $ 2,023,795 $ 6,687,781 $ 1,299,894 ---PAGE BREAK--- Total Fund Balance $ 5,495,041 $ 1,281,938 Total net assets reported on the Statement of New Position is different from fund balance reported on the Balance Sheet because: Capital assets used in governmental activities are not financial resources and therefore are not reported as assets in the governmental funds Cost of capital assets 37,224,245 Depreciation expense to date (22,286,753) Some of the City’s property taxes will be collected after year end and are not available to pay current period expenditures. They are reported as deferred revenue in the governmental funds. 169,209 9,454 Long term liabilities are not due and payable in the current period. Therefore they are not reported as liabilities in the governmental funds. Accrued leave (302,624) Equipment leases payable (68,998) Revenue bonds payable (855,000) City’s share of unfunded PERSI liability (1,324,868) Deferred amounts are not current financial resources/uses. Therefore they are not reported in the govermental funds. Deferred PERSI outflows 601,015 Deferred PERSI inflows (854,559) Change in Net Position $ 18,651,708 $ 436,392 — 38 — CITY OF BLACKFOOT CHANGES IN FUND BALANCES OF GOERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION SEPTEMBER 30, 2015 ---PAGE BREAK--- — 39 — Page Left Intentionally Blank ---PAGE BREAK--- Parks and General Street Ambulance Recreation REvENUE: Fund Fund Fund Fund Property taxes $ 3,237,744 $ 13,189 $ 215,089 Sales and use taxes 370,641 77,093 26,499 Franchise taxes 104,791 84,637 Licenses and fees 82,925 $ 704,063 519,480 County shared 38,639 554,787 20,000 State of Idaho 553,514 414,054 Blackfoot - Snake River Fire District 708,088 School District Resource Officer 170,746 Grants and contributions 4,059 32,281 1,429 Interest 38,915 18,684 1,535 Administrative charges 635,518 10,000 Miscellaneous 114,987 700 600 3,526 Total revenue 6,021,928 646,996 1,291,731 797,558 EXPENDITURES: Current operating General government 967,648 Public safety 4,669,262 1,184,042 Parks and recreation 1,344,559 Library Highways and streets 995,783 Airport Capital Outlay Debt service - principal Debt service - interest Total expenditures 5,636,910 995,783 1,184,042 1,344,559 EXCESS REvENUE (EXPENDITURES) 385,018 (348,787) 107,689 (547,001) OTHER FINANCING SOURCES (USES): Operating transfers (to) from other funds (547,001) (20,000) 547,001 NET CHANGE IN FUND BALANCES (161,983) (348,787) 87,689 0 FUND BALANCE - BEGINNING 851,146 1,012,122 (506,817) 0 FUND BALANCE - ENDING $ 689,163 $ 663,335 $ (419,128) $ 0 — 40 — CITY OF BLACKFOOT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS YEAR ENDED SEPTEMBER 30, 2015 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- Water Wastewater Other Total Blackfoot Capital Capital Governmental Primary Urban Renewal Fund Fund Funds Government Agency $ 385,755 $ 3,851,777 $ 571,007 26,531 500,764 189,428 516,273 1,822,741 613,426 967,568 708,088 170,746 412,850 450,619 16,439 75,573 1,059 645,518 1,893 121,706 100 $ 0 $ 0 1,359,741 10,117,954 572,166 176,721 1,144,369 15,658 304,399 6,157,703 1,344,559 407,925 407,925 995,783 492,263 492,263 227,877 50,000 63,800 0 0 1,381,308 10,542,602 357,335 0 0 (21,567) (424,648) 214,831 300,000 700,000 20,000 1,000,000 0 300,000 700,000 (1,567) 575,352 214,831 1,500,000 300,000 1,763,238 4,919,689 1,067,107 $ 1,800,000 $ 1,000,000 $ 1,761,671 $ 5,495,041 $ 1,281,938 — 41 — The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 42 — CITY OF BLACKFOOT RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2015 Total Blackfoot Primary Urban Renewal Government Agency Net Change in Fund Balance -Total Governmental Funds $ 575,352 $ 214,831 Property tax revenues that are not received within sixty days after year end do not provide current financial resources and thus are not recorded as revenue in the Governmental Funds. (34,873) 2,071 Governmental funds report capital outlays as current year expenditures. In the Statement of activities the cost of these assets is allocated over their estimated usefull lives as depreciation expense. This is the amount of current capital outlay for new equipment. 739,308 This is the amount of current year depreciation. (1,083,847) This is the amount of new assets transferred from BURA 112,593 Long term liabilities are not recorded in Governmental funds. Capital lease payments are expensed in the period that the payments are paid. Capital leases are recorded as liabilities in the Statement of Net Assets. Current year payments reduce the amount of the debt. This is the amount of current year debt payments 87,096 50,000 This is the amount of capital lease financing 0 Revenues and expenses that do not require the use of current financial resources are not reported in the Governmental funds. Current year net PERSI revenue 91,190 Liabilitiy for personal leave days are not recorded in Governmental funds. This is the increase in leave during the year. $ 16,559 Change in Net Assets of Governmental Activities $ 503,378 $ 266,902 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 43 — CITY OF BLACKFOOT STATEMENT OF NET POSITION PROPRIETARY FUNDS SEPTEMBER 30, 2015 Totals Water Sewer Sanitation (Memorandum ASSETS: Fund Fund Fund Only) Current Assets: Cash and investments $ 1,894,090 $ 1,191,448 $ 681,049 $ 3,766,587 Utility accounts receivable 190,583 270,718 125,683 586,984 Less allowance for doubtful accounts (1,800) (1,500) (1,500) (4,800) Grants receivable 13,380 13,380 Noncurrent Assets: Property and equipment 10,638,672 19,512,671 1,638,948 31,790,291 Less accumulated depreciation (4,936,019) (10,154,143) (1,209,543) (16,299,705) Restricted cash 172,000 172,000 Total assets 7,785,526 11,004,574 1,234,637 20,024,737 DEFERRED OUTFLOWS: Deferred PERSI outflow of resources 45,241 61,258 30,190 136,689 LIABILITIES: Curent liabilities: Accrued leave 27,064 24,241 7,179 58,484 Accounts payable 39,116 131,474 43,577 214,167 Customer deposits 54,964 54,964 Bonds payable 205,000 205,000 Notes payable 172,918 172,918 Capital leases payable 0 Noncurrent liabilities: Bonds payable 650,000 650,000 Notes payable 3,221,359 3,221,359 Fund’s share of unfunded PERSI liability 99,729 135,037 66,550 301,316 Total liabilities 3,615,150 1,145,752 117,306 4,878,208 DEFERRED INFLOWS: Deferred PERSI inflow of resources 64,327 87,100 42,926 194,353 NET ASSETS: Invested in capital assets, net of related debt 2,308,376 8,503,528 429,405 11,241,309 Committed 1,842,914 1,157,452 675,190 3,675,556 Restricted for debt retirement 172,000 172,000 Net position $ 4,151,290 $ 9,832,980 $ 1,104,595 $ 15,088,865 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION PROPRIETARY FUNDS YEAR ENDED SEPTEMBER 30, 2015 Totals Water Sewer Sanitation (Memorandum OPERATING REvENUE: Fund Fund Fund Only) Service fees $ 1,846,599 $ 2,933,066 $ 1,212,805 $ 5,992,470 Other 29,514 25,865 53 55,432 Total revenue 1,876,113 2,958,931 1,212,858 6,047,902 OPERATING EXPENSES: Salaries 331,291 446,131 220,163 997,585 Benefits 220,353 271,461 130,395 622,209 Clothing 2,091 5,627 675 8,393 Travel and training 1,548 4,633 0 6,181 Office supplies 10,604 7,677 1,394 19,675 Maintenance 23,520 101,539 29,792 154,851 Utilities and telephone 190,635 185,891 6,751 383,277 Fuel 13,304 23,678 36,685 73,667 Professional services 32,990 94,842 194 128,026 Department supplies and other 41,092 95,441 5,949 142,482 Insurance 17,635 33,437 7,782 58,854 Depreciation 238,503 460,212 93,764 792,479 Administrative services 210,277 294,857 140,385 645,519 Lab & DEQ fees 25,516 51,900 77,416 Lift Stations 37,905 37,905 County services 289,310 289,310 Constructional materials 28,116 86,761 114,877 Bad debt write offs 4,117 7,035 9,756 20,908 Total expenses 1,391,592 2,209,027 972,995 4,573,614 OPERATING INCOME (LOSS) 484,521 749,904 239,863 1,474,288 NON-OPERATING REvENUES (EXPENSES): Interest on investments 33,374 22,322 11,437 67,133 Federal and State grants 254,776 254,776 Net PERSI pension plan revenue (expense) 6,864 9,295 4,581 20,740 Debt service-interest (61,627) (22,450) (1,034) (85,111) INCOME (LOSS) BEFORE CONTRIBUTIONS & TRANSFERS 463,132 1,013,847 254,847 1,731,826 Transfers (to) from other funds (300,000) (700,000) (1,000,000) CHANGE IN NET POSITION 163,132 313,847 254,847 731,826 NET POSITION - BEGINNING 3,988,158 9,519,133 849,748 14,357,039 NET POSITION - ENDING $ 4,151,290 $ 9,832,980 $ 1,104,595 $ 15,088,865 — 44 — The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 45 — The accompanying notes are an integral part of these statements. CITY OF BLACKFOOT STATEMENT OF CASH FLOWS PROPRIETARY FUNDS YEAR ENDED SEPTEMBER 30, 2015 Totals Water Sewer Sanitation (Memorandum Fund Fund Fund Only) CASH FLOWS FROM OPERATING ACTIvITIES: Receipts from City patrons $ 1,887,379 $ 2,934,326 $ 1,225,381 $ 6,047,086 Payments to suppliers (600,543) (968,896) (527,909) (2,097,348) Payments to employees (328,714) (445,089) (219,352) (993,155) City administrative charges (210,277) (294,857) (140,385) (645,519) Net cash provided by operating activities 747,845 1,225,484 337,735 2,311,064 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIvITIES: Acquisition of fixed assets (86,215) (413,892) (268,030) (768,137) Grants 241,396 241,396 Transfer to capital funds (300,000) (700,000) (1,000,000) State Revolving Loan Proceeds (231,720) (231,720) Note and capital Lease payments (24,224) (24,224) Bond payments (227,450) (227,450) Net cash applied to financing activities (617,935) (1,099,946) (292,254) (2,010,135) CASH FLOWS FROM INvESTING ACTIvITIES: Interest earned on investments 33,374 22,322 11,437 67,133 NET INCREASE (DECREASE) IN CASH 163,284 147,860 56,918 368,062 CASH AT BEGINNING OF YEAR 1,730,806 1,043,588 624,131 3,398,525 CASH AT END OF YEAR $ 1,894,090 $ 1,191,448 $ 681,049 $ 3,766,587 RECONCILIATION OF OPERATING INCOME (LOSS) TO NET INCOME Net income (loss) $ 163,132 $ 313,847 $ 254,847 $ 731,826 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation 238,503 460,212 93,764 792,479 Net PERSI plan income (6,864) (9,295) (4,581) (20,740) Investment income (33,374) (22,322) (11,437) (67,133) Debt service interest 61,627 22,450 1,034 85,111 Grants (254,776) (254,776) Transfers 300,000 700,000 1,000,000 (Increase) decrease in accounts receivable (408) (17,570) 22,279 4,301 Increase (decrease) in accounts payable 25,229 32,938 (18,171) 39,996 Net cash provided by operating activities $ 747,845 $ 1,225,484 $ 337,735 $ 2,311,064 ---PAGE BREAK--- — 46 — The accompanying notes are an integral part of these statements. CITY OF BLACKFOOT STATEMENT OF NET POSITION FIDUCIARY FUNDS - CLERK'S TRUST FUND SEPTEMBER 30, 2015 ASSETS: Cash and investments $ 27,916 LIABILITIES: Customer deposits 3,798 Blackfoot Youth Committee (5,548) Pride Days 1,423 Blackfoot Cultural Diversity 408 Baseball Fields 1,662 Clerk’s Trust Misc. (46) Flag Donations 56 We The People 150 Music In The Park (379) Mayor’s Scholarship 6,185 Ground Water Recharge 5,000 Round Up Program (2,996) Blackfoot Animal Shelter 2,089 Braden/Tracen Project 871 Animal Shelter Adoptions 15,168 Animal Shelter County 75 Total liabilities 27,916 NET ASSETS: $ 0 ---PAGE BREAK--- CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Blackfoot, Idaho (the “City”) was incorporated on January 16, 1901, under the provision of the State of Idaho. The City operates under a Council-Mayor form of government. The financial statements of the City of Blackfoot have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for established governmental accounting and financial reporting principles. The more significant of the City of Blackfoot’s accounting policies are described below. A. FINANCIAL REPORTING ENTITY For financial reporting purposes, management has considered potential component units. The decision to include a potential component unit in the reporting entity is made by applying the criteria set forth in generally accepted accounting principles. The basic criterion for including a potential component unit within the reporting entity is the governing body's responsibility for financial accountability. Financial accountability is defined as the level of accountability that exists if a primary government appoints a voting majority of an organization’s governing board and is either able to impose its will on that organization or there is potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary government. A primary government may also be financially accountable for governmental organizations that are fiscally dependent on it. Discretely Presented Component Unit Based upon the application of those criteria, the financial statements of the City of Blackfoot include those of the Blackfoot Urban Renewal Agency (BURA). The Agency’s Parkway-Meridian Urban Renewal Plan was adopted December 15, 1992. The Agency’s Downtown Urban Renewal Plan was adopted December 16, 1997. The Agency is administered by nine commissioners appointed by the Blackfoot City Council. B. BASIS OF ACCOUNTING/MEASUREMENT FOCUS The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund balance, revenues, and expenditures, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. Government-Wide Financial Statements: The City Government-Wide Financial Statements include a Statement of Net Assets and a Statement of Activities and Changes in Net Assets. These statements present summaries of Governmental and Business-Type Activities for the City accompanied by a total column. City fiduciary activities are not included in these statements. These statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all of the City’s assets and liabilities are included in the accompanying Statement of Net Assets. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized when the liability is incurred. Property taxes are recognized as revenue in the year for which they are levied. Program service revenues include charges for services as well as operating contracts with other units of government such as the Snake River Fire District, the Rural Library District, and the County Ambulance. — 47 — ---PAGE BREAK--- — 48 — B. BASIS OF ACCOUNTING/MEASUREMENT FOCUS - Cont. Certain eliminations have been made as prescribed by GASB Statement No. 34 in regards to interfund activities, payables and receivables. All internal balances in the Statement of Net Assets have been eliminated except those representing balances between the governmental activities and the business-type activities. Proprietary funds, in accordance with GASB Statement No. 20, are required to apply all applicable GASB pronouncements, as well as the following pronouncements issued on or before November 30, 1989, unless those pronouncements conflict with or contradict with GASB: Statements and Interpretations of the Financial Accounting Standards Board (FASB), Accounting Principles Board (APB) Opinions, and Accounting Research Bulletins (ARB) of the Committee on Accounting Procedures. The City has elected not to follow FASB pronouncements issued after November 30, 1989, for proprietary funds. Proprietary funds distinguish operating revenues and expenses for nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with ongoing operations. The principal operating revenues of the Water, Sewer, and Sanitation Funds are charges to City residents for sales and services. Operating expenses include the cost of sales and services, administrative expenses and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non operating revenues and expenses. When both restricted and unrestricted resources are available for use, the City’s policy is to use restricted resources first, and then unrestricted resources, as they are needed. Governmental Fund Financial Statements: Governmental Fund Financial Statements include a Balance Sheet and a Statement of Revenues, Expenditures and Changes in Fund Balances for all major governmental funds and non-major funds aggregated. An accompanying schedule is presented to reconcile and explain the differences in net assets as presented in these statements to the net assets presented in the Government-Wide Financial Statements. Governmental funds are accounted for on a spending or “current financial resources” measurement focus and on the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the Balance Sheets. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases and decreases in net current assets. Under the modified accrual basis of accounting, revenues are recognized when they become both measurable and available as net current assets. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Revenue sources susceptible to accrual include property taxes and intergovernmental revenues. Expenditures are recognized when the related fund liability is incurred. Exceptions to this general rule include accumulated unpaid vacation, sick days, and other employee amounts, which are not accrued. Proprietary Fund Financial Statements Proprietary Funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful for sound financial administration. Goods or services from such activities can be provided either to outside parties or other departments or agencies within the City. Proprietary funds are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities are included on the Statement of Net Assets. Revenues are recognized when they are earned and expenses are recognized when the liability is incurred. Fiduciary Fund Financial Statements Fiduciary Fund Financial Statements include a Statement of Net Assets. The City’s fiduciary funds represent Agency Funds, which are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 49 — The City reports the following major governmental funds: The General Fund is the City’s primary operating fund. It accounts for all financial activities of the City except those required to be accounted for in another fund. The Street Fund is used to account for the operation of the Street Department. Funding is provided by local property taxes and the City’s share of State Highway taxes. The Ambulance fund is used to account for the activities of the City’s paramedics. Funding is provided thru user charges and cost sharing with Bingham County. The Parks and Recreation Fund include the City’s golf course, swimming pool, and City parks. Funding is provided by local property taxes and user charges. The City reports the following major proprietary funds: The Water Fund accounts for the City’s water production and distribution. The Sewer Fund accounts for the City’s sewer system operation. The Sanitation Fund accounts for the City’s refuse collection and disposal. C. BUDGETING Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted for the general, special revenue and debt service funds. All annual appropriations lapse at fiscal year end. Project-length financial plans are adopted for all capital project funds. In July and August of each year the various department heads submit their budget requests to the Mayor and Council. Budget meetings are then held to determine what funds will be available for expenditure in the new fiscal year. The budget requests are reduced to match the available revenue and a proposed budget is approved by the Mayor and Council. The proposed budget is published in the local paper and taxpayers are invited to attend a public hearing to express their views concerning the proposed budget. After this public meeting the budget is approved and is legally enacted through the passage of an ordinance. D. ENCUMBRANCES Encumbrances are not liabilities and they are not recorded as expenditures until receipt of material or services. For budgetary purposes, appropriations lapse at year end and are rebudgeted the following year. The City does not reserve fund balance for outstanding encumbrances at year-end. E. CASH AND INVESTMENTS The City pools idle cash from all funds for the purpose of increasing income through investment activities. The City considers investments with an original maturity of three months or less to be cash equivalent. The City invests idle cash in the Idaho State Treasurer’s local government investment pool. The deposits are stated at cash which approximates market. The State Treasurer combines deposits from all government entities in Idaho, who participate in the pool, and purchases the following types of investments: Local Certificates of Deposit, Repurchase Agreements, and U.S. Government Securities. CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 50 — E. CASH AND INVESTMENTS, cont. The Entities participating in the pool own a percentage of each investment held. This percentage is calculated by dividing the individual entity’s deposits by the total deposits held in the pool. The purpose of this is to: increase overall the rate of return, reduce risk of default, and place each entity under the FDIC and FSLIC limits of $250,000. Under Idaho Code Section 67-1210 the City is authorized to invest surplus or idle moneys in investments subject to the following standards, guidelines and restrictions: a. City moneys shall not be made in any depository of financial institution in an amount, which exceeds ten (10%) of said entity’s capital and surplus. Any investment to be made above Federal Deposit Insurance requires the depository to have a current “Moody’s Bank Credit Report Service” rating of or better. b. No demand deposits or investment in time deposits or certificates of deposit shall be made in financial institutions insured in whole or in part by the Federal Savings and Loan Insurance Corporation or in any State or Federal credit unions insurance programs in an amount in excess of the insurance available. Investments allowable under “Idaho Code Section 67-1210 are: a. Bonds, Treasury bills, interest bearing notes, or other obligations of the United States, or those for which the faith and credit of the United States are pledged for the payment of principal and interest. b. General obligation or revenue bonds of this State, or those for which the faith and credit of this State are pledged for payment of principal and interest. c. General obligation or revenue bonds of any county, city, metropolitan water district, municipal utility district, school district or other taxing district of this State. d. Notes, bonds, debentures, or other similar obligations issued by the Farm Credit System or institutions forming a part thereof under the Farm Credit act of 1971. e. Bonds, notes or other similar obligations issued by public corporations of the State of Idaho including, but not limited to, the Idaho State Building Authority, the Idaho Housing Authority and the Idaho Water Resource Board. These investments shall not extend beyond seven days. f. Repurchase agreements covered by any legal investment for the State of Idaho. g. Tax anticipation notes and registered warrants of the State of Idaho. h. Tax anticipation bonds or notes and income and revenue anticipation bonds or notes of taxing District’s of the State of Idaho. i. Time deposits and savings accounts in state depositories including, but not limited to, accounts on which interest or dividends are paid and upon which negotiable orders of withdrawal may be drawn, and similar transactions accounts. j. Time deposit accounts and savings accounts of federal savings and loan associations located within the geographical boundaries of the state in amounts not to exceed the insurance provided by the Federal Savings and Loan Insurance Corporation including, but not limited to, accounts on which interest or dividends are paid and upon which negotiable orders of withdrawal may be drawn, and similar transaction accounts. k. Revenue bonds of institutions of higher education of the State of Idaho. l. Share, savings and deposit accounts of state and federal credit unions located within the geographical boundaries of the state in amounts not to exceed the insurance provided by the National Credit Union Share Insurance Fund and/or any other authorized deposit guaranty corporation, including but not limited to, accounts on which interest or dividends are paid and upon which negotiable orders of withdrawal may be drawn, and similar transaction accounts. F. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 51 — G. INVENTORY Inventory is expensed when purchased. The City has no significant inventories. H. CAPITAL ASSETS Capital assets, which include property, plant, equipment, and infrastructure (roadways), are defined by the City as any asset with an individual cost of more than $5000, and an estimated useful life of at least one year. The City’s assets are capitalized at historical cost or estimated historical cost. Gifts or contributions of assets are recorded at fair market value when received. Depreciation is recorded on the straight-line basis over the estimated useful lives of the assets as follows: Buildings 20-40 years, Equipment 5-10 years, Infrastructure 40 years. In June 1999, the Governmental Accounting Standards Board (GASB) issued Statement No. 34, which requires the inclusion of infrastructure in local government’s basic financial statements. Infrastructure includes the streets, the water purification and distribution system, the sewer collection and treatment system, and all land and buildings used by the City. The City has elected to use the Basic Approach as defined by Statement No. 34 for asset reporting. Historical cost records do not exist for all of the City’s assets dating back to 1901. For those assets where actual costs records could not be located, the City estimated costs using standard unit costs appropriate for acquisition date. Accumulated depreciation was computed based on the life of the assets. Book value is computed by deducting the accumulated depreciation from the original cost. I. ACCUMULATED COMPENSATED ABSENCES It is the City’s policy to permit employees to accumulate unused vacation and sick leave, some of which will be paid to employees upon their separation from service. This amount is included as a liability in the Government-Wide Statements and on The Proprietary Fund Statements. J. FUND BALANCES Fund Balance is divided into five classifications based primarily on the extent to which the City is bound to observe constraints imposed upon the use of the resources in the governmental funds. The classifications are as follows: Nonspendable – The nonspendable fund balance category includes amounts that cannot be spent because they are not in a spendable form, or legally or contractually required to be maintained intact. The “not in spendable form” criterion includes items that are not expected to be converted to cash. It also includes the long-term amount of interfund loans. Restricted – Fund balance is reported as restricted when constraints placed on the use of resources are either externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments or is imposed by law through constitutional provisions or enabling City Council. Committed – The committed fund balance classification includes amounts that can be used for only the specific purposes imposed by formal action of the City Council. The committed amounts cannot be used for any other purpose unless the City Council removes or changes the specified use of taking the same type of action it employed to previously commit those amounts. In contrast to fund balance that is restricted by enabling legislation, committed fund balance classification may be redeployed for other purposes with appropriate due process. Constraints imposed on the use of committed amounts are imposed by the City Council, separate from the authorization to raise the underlying revenue; therefore, compliance with these constraints are not considered to be legally enforceable. Committed fund balance also incorporates contractual obligations to the extent that existing resources in the fund have been specifically committed for use in satisfying those contractual requirements. CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 52 — J. FUND BALANCES, cont. Assigned – Amounts in the assigned fund balance classification are intended to be used by the City for specific purposes but do not meet the criteria to be classified as restricted or committed. In governmental funds other than the General Fund, assigned fund balance represents the remaining amount that is not restricted or committed. In the General Fund, assigned amounts represent intended uses established by the City Council. Unassigned - Unassigned fund balance is the residual classification for the General Fund and includes all spendable amounts not contained in the other classifications. In other governmental funds, the unassigned classification is used only to report a deficit balance resulting from overspending for specific purposes. 2. PROPERTY TAX The City’s property taxes, levied by the second Monday of September on assessed valuation as of June 30, are payable in two equal installments for real property due December 20, and June 20. Personal taxes are payable on December 20. Assessed valuations are established by the County Assessor’s office except for utility property which is established by the State and is currently at 100% of market value. Delinquent payments bear simple interest of 1% per month plus a 2% penalty. Due to the small amount of taxes not collected no adjustment is made for delinquent taxes. Uncollected property taxes are recorded as receivable at year-end, with deferred revenue representing that portion which will not be collected within 60 days after year-end. 3. CASH AND INVESTMENTS Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, the City would not be able to recover its deposits. The City does not have an investment policy for custodial risk. The City’s investments are categorized as either insured or registered or for which the securities are held by the City or its agent in the City’s name, uninsured and unregistered for which the securities are held by the broker’s or dealer’s trust department or agent in the City’s name or uninsured and unregistered for which the securities are held by the broker or dealer, or by its trust department or agent but not in the City’s name. The City has agreed to maintain $167,000 in a reserve fund until the Sewer Revenue Bonds are redeemed. Category Carrying Investments Held #1 #2 #3 Amount Wells Fargo Bank - City $ 579,852 $ 579,852 Wells Fargo Bank - BURA 564,777 564,777 Edward Jones - City 907,599 907,599 Centaurus - City 509,521 509,521 Zions Bank - City 576,751 576,751 $ 3,138,500 $ 0 $ 0 $ 3,138,500 Cash Cash on Hand - City 4,090 Zion’s Bank-checking - City 1,707,655 US Bank - checking - BURA 135,065 State of Idaho LGIP - City 2,714,920 State of Idaho Diversified Bond Fund - City 2,528,224 State of Idaho LGIP - BURA 590,389 Total cash and investments $ 10,818,843 CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 53 — 4. RECEIVABLES The following is a detail of accounts receivable from: Parks and Other General Street Recreation Governmental BINGHAM COUNTY: Fund Fund Fund Funds Property tax penalty $ 4,448 $ 652 $ 275 $ 605 Ag exemption 250 36 16 33 Sales tax 98,468 20,481 8,118 7,049 Motor vehicle fine 12,687 Road & Bridge tax 126 115,853 21,295 8,409 7,687 STATE OF IDAHO: Revenue sharing 108,947 Highway user tax 111,619 108,947 0 0 TOTAL RECEIVABLES $ 224,800 $ 132,914 $ 8,409 $ 7,687 5. CAPITAL ASSETS In accordance with GASB Statement No. 34, the City has reported all capital assets including infrastructure in the Government- Wide Statement of Net Assets. The City has maintained a record of fixed assets since 1993. During fiscal year 2000, the infrastructure assets were added to the equipment inventory records. Original estimated costs were developed in one of three ways: 1) Actual historical cost records; 2) Estimated historical costs where actual cost records were not available; 3) for streets, curbs, and gutters, the City used present construction cost indexed by inflation factors provided by the Idaho Department of Transportation. Accumulated depreciation was computed on a straight line basis using appropriate life expectancies. Capital assets of the City for the year ended SEPTEMBER 30, 2015 are as follows: Assets Accumulated Depreciation Balance Balance Balance Balance Governmental Activities: 10-1-2014 Change 9-30-2015 10-1-2014 Change 9-30-2015 Land $ 993,240 $ 55,000 $ 1,048,240 Buildings 6,431,448 110,427 6,541,875 $ 4,734,442 $ 252,394 $ 4,986,836 Infrastructure 23,109,454 159,585 23,269,039 12,139,140 492,813 12,631,953 Vehicles & Rolling Stock 3,881,827 366,922 4,248,749 3,154,655 314,648 3,469,303 Furniture & Equipment 1,956,375 159,967 2,116,342 1,174,669 23,992 1,198,661 $36,372,344 $ 862,506 $37,224,245 $21,202,906 $ 1,083,847 $22,286,753 Business - Type Activities: Land $ 454,144 $ 17,085 $ 471,229 Distribution System 27,648,430 477,523 28,125,953 $ 13,169,802 $ 619,698 $13,789,500 Vehicles & Rolling Stock 2,130,211 268,029 2,398,240 1,684,338 141,729 1,826,067 Furniture & Equipment 789,371 5,500 794,871 653,397 30,740 684,137 $31,022,156 $ 751,052 $31,790,293 $15,507,537 $ 792,167 $16,299,704 CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 54 — CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 For the fiscal year ended SEPTEMBER 30, 2015, depreciation expense on capital assets was charged to the governmental functions in the City-Wide Statements as follows: General government $ 39,583 Public safety 200,595 Street 534,148 Airport 157,427 Library 1,125 Parks 150,969 $ 1,083,847 6. CAPITAL LEASES The City has entered into lease agreements to finance various equipment purchases. These arrangements qualify as capital leases for accounting purposes because the title transfers at the end of the lease. The following is a summary of future commitments of various leases as of SEPTEMBER 30, 2015: Lease Reported in Government Funds Fiscal Sanitation Year Truck Total 2015 $ 24,106 $ 24,106 2016 2017 24,106 24,106 Interest 916 916 $ 23,190 $ 23,190 7. SEWER REFUNDING BONDS During 2012 the City of Blackfoot issued Sewer Revenue Refunding Bonds. Bond proceeds were used to payoff the 1993 DEQ loans and the 2000 COPS debt. These bonds are payable from pledged sewer revenues of the city. The bonds are not payable from any other revenues or assets of the City. The annual requirements to amortize the debt including interest are as follows: Refunding Series 2012 Principal Interest Interest Total Debt Date Amount Rate Amount Service 3/1/2016 $ 9,175 $ 9,175 9/1/2016 $ 205,000 2.00% 9,175 214,175 3/1/2017 7,125 7,125 9/1/2017 215,000 2.00% 7,125 222,125 3/1/2018 4,350 4,350 9/1/2018 215,000 2.00% 4,350 219,350 3/1/2019 2,200 2,200 9/1/2019 220,000 2.00% 2,200 222,200 $ 855,000 $ 45,700 $ 900,700 FiscalCat Ford YearGrader Fusion Ambulance Total 2014 $ 4,129 $ 65,000 $ 69,129 2016 58,261 4,129 65,000 69,129 Interest 2,5131 0 131 $ 55,754 $ 3,998 $ 65,000 $ 68,998 ---PAGE BREAK--- — 55 — 8. DEQ REVOLVING LOAN During 2012 the City completed a water facilities upgrade. The project will be funded by a loan from the US Department of Environmental Quality Idaho Revolving Loan Fund. As of September 30, 2015. The annual requirements to amortize the debt including interest are as follows: DEQ Revolving Principal Interest Interest Total Debt Loan Date Amount Rate Amount Service 3/11/2016 $ 86,241.13 1.75% $ 29,618.56 $ 115,859.69 9/11/2016 86,676.47 1.75% 29,183.22 115,859.69 3/11/2017 87,904.46 1.75% 27,955.23 115,859.69 9/11/2017 88,216.60 1.75% 27,643.09 115,859.69 3/11/2018 89,432.86 1.75% 26,426.83 115,859.69 9/11/2018 89,783.81 1.75% 26,075.88 115,859.69 3/11/2019 90,988.11 1.75% 24,871.58 115,859.69 9/11/2019 91,378.57 1.75% 24,481.12 115,859.69 3/11/2020 92,442.04 1.75% 23,417.65 115,859.69 9/11/2020 93,000.22 1.75% 22,859.47 115,859.69 3/11/2021 94,179.99 1.75% 21,679.70 115,859.69 9/11/2021 94,651.51 1.75% 21,208.18 115,859.69 3/11/2022 95,818.69 1.75% 20,041.00 115,859.69 9/11/2022 96,331.82 1.75% 19,527.87 115,859.69 3/11/2023 97,486.18 1.75% 18,373.51 115,859.69 9/11/2023 98,041.67 1.75% 17,818.02 115,859.69 3/11/2024 99,090.85 1.75% 16,768.84 115,859.69 9/11/2024 99,780.75 1.75% 16,078.94 115,859.69 3/11/2025 100,908.81 1.75% 14,950.88 115,859.69 9/11/2025 101,551.22 1.75% 14,308.47 115,859.69 3/11/2026 102,665.78 1.75% 13,193.91 115,859.69 9/11/2026 103,352.80 1.75% 12,506.89 115,859.69 3/11/2027 104,453.63 1.75% 11,406.06 115,859.69 9/11/2027 105,186.06 1.75% 10,673.63 115,859.69 3/11/2028 106,219.93 1.75% 9,639.76 115,859.69 9/11/2028 107,051.06 1.75% 8,808.63 115,859.69 3/11/2029 108,123.68 1.75% 7,736.01 115,859.69 9/11/2029 108,949.32 1.75% 6,910.37 115,859.69 3/11/2030 110,007.46 1.75% 5,852.23 115,859.69 9/11/2030 110,880.93 1.75% 4,978.76 115,859.69 3/11/2031 111,924.34 1.75% 3,935.35 115,859.69 9/11/2031 112,846.50 1.75% 3,013.19 115,859.69 3/11/2032 113,863.96 1.75% 1,995.73 115,859.69 9/11/2032 114,846.27 1.75% 1,013.16 115,859.43 $3,394,277.48 $544,951,72 $3,939,229,46 CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 56 — 9. LONG TERM DEBT The following is a summary of the City’s long term debt transactions for the year ended September 30, 2015: Balance Incurred Satisfied Balance Amounts Due 10-1-2014 or issued or matured 9-30-2015 within one year Governmental Activities: Compensated absences $ 298,652 $ 3,972 $ 302,624 Lease purchase contracts 156,094 $ (87,097) 68,997 $ 68,997 $ 454,746 $ 3,972 $ (87,097) $ 371,621 $ 68,997 Business-Type Activities: State of Id. Revolving Loan $ 3,564,370 $ (170,092) $ 3,394,278 $ 172,918 DEQ WWTP Loan 0 $ 239,474 239,474 Compensated Absences 54,956 3,528 58,484 Lease purchase contracts 23,190 (23,190) 0 Refunding Series 2012 1,060,000 (205,000) 855,000 205,000 $ 4,702,516 $ 243,002 $ (398,282) $ 4,547,236 $ 377,918 Blackfoot Urban Renewal District: Tax Increment Bonds $ 905,000 $ (50,000) $ 855,000 $ 55,000 $ 905,000 $ 0 $ (50,000) $ 855,000 $ 55,000 10. LEGAL DEBT MARGIN The City is subject to a statutory limitation by the State of Idaho for indebtedness payable principally from property taxes. The limit is 2% of market value per the years tax roll. The City’s outstanding general obligation debt is under the legal limit. 11. BLACKFOOT URBAN RENEWAL TAX INCREMENT BONDS During fiscal year 2006 BURA sold $1,100,000 in tax increment bonds to fund construction costs associated with the Riverview Technology Park. These bonds will be repaid from future property tax revenues. The annual requirements to amortize this debt including interest are as follows: Series 2006 Principal Interest Interest Total Debt Date Amount Rate Amount Service March 1, 2016 $ 55,000.00 7.250% $ 30,993.75 $85,993.75 September 1, 2016 29,000.00 29,000.00 March 1, 2017 60,000.00 7.250% 29,000.00 89,000.00 September 1, 2017 26,825.00 26,825.00 March 1, 2018 60,000.00 7.250% 26,825.00 86,825.00 September 1, 2018 24,650.00 24,650.00 March 1, 2019 65,000.00 7.250% 24,650.00 89,650.00 September 1, 2019 22,293.75 22,293.75 March 1, 2020 70,000.00 7.250% 22,293.75 92,293.75 September 1, 2020 19,756.25 19,756.25 March 1, 2021 75,000.00 7.250% 19,756.25 94,756.25 September 1, 2021 17,037.50 17,037.50 March 1, 2022 80,000.00 7.250% 17,037.50 97,037.50 September 1, 2022 14,137.50 14,137.50 March 1, 2023 85,000.00 7.250% 14,137.50 99,137.50 September 1, 2023 11,056.25 11,056.25 March 1, 2024 95,000.00 7.250% 11,056.25 106,056.25 September 1, 2024 7,612.50 7,612.50 March 1, 2025 100,000.00 7.250% 7,612.50 107,612.50 September 1, 2025 3,987.50 3,987.50 March 1, 2026 110,000.00 7.250% 3,987.50 113,987.50 $ 855,000.00 $ 383,706.25 $ 1,238,706.25 CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 57 — 12. ACCOUNTS PAYABLE Accounts payable consists of the following: Parks and Other General Street Ambulance Recreation Governmental Fund Fund Fund Fund Funds Vendors payable $ 179,755 $ 13,478 $ 6,839 $ 54,550 $ 151,234 Wages payable 82,471 7,606 16,086 19,598 8,530 Sales tax payable 2,462 Customer deposits 20,674 Withholding 13,932 Work Comp (35,462) $ 263,832 $ 21,084 $ 22,925 $ 74,148 $ 159,764 13. RISK MANAGEMENT The City is exposed to various risks of loss related to torts, theft of, or damage to and destruction of assets; errors and omissions; and natural disasters. Significant losses are covered by commercial insurance. 14. INTERFUND RECEIVABLES AND PAYABLES Due to and due from other funds represent loans from one City fund to another to cover temporary cash shortages. Due From Due To General fund $ 481,779 Ambulance fund $ 481,779 15. TRANSFERS BETWEEN FUNDS During the fiscal year the following transfers were made between funds: Administrative Charges: General Fund $ 635,519 Water Fund $ 210,277 Sewer Fund 284,857 Sanitation Fund 140,385 Park Fund 10,000 Sewer Fun 10,000 Deficit Transfers: Parks and Recreation Fund 547,001 General Fund 547,001 Capital Project Reserves: Fire and Ambulance Replacement Fund 20,000 Ambulance Fund 20,000 Water Capital Fund 300,000 Water Fund 300,000 Wastewater Capital Fund 700,000 Wastewater Fund 700,000 CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 58 — 16. CONTINGENT LIABILITIES To save on health insurance costs, the City has purchased a policy with large individual deductibles. Rather than pass that cost to the employees the City has agreed to pay up to $1,000 for individuals and $2,000 for families. The City’s maximum risk at any time is approximately $170,000. The City has set up a Health Care Reserve Fund to account for this activity. The City has chosen to participate in the Idaho Independent Intergovernmental Authority Insurance, which is a self- funded insurance policy that Idaho municipalities are eligible to participate in. In 2014, there have been a high number of claims which depleted the reserve. If this trend continues the City could possibly be required to re-fund this reserve. This expense has not been determined at this time, but there is money in the Health Care Reserve Fund, should the City need to fund the reserve. The City expects such amounts, if any to be immaterial. Amounts received or receivable from grantor agencies are subject to audit and adjustment by those agencies. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed cannot be determined at this time. The City expects such amounts, if any, to be immaterial. 17. PUBLIC EMPLOYEES RETIREMENT SYSTEM Pension Benefits The City contributes to the Base Plan which is a cost-sharing multiple-employer defined pension plan administered by Public Employee Retirement System of Idaho (PERSI or System) that covers substantially all employees of the State of Idaho, its agencies and various participating political subdivisions. The cost to administer the plan is financed through the contributions and investment earnings of the plan. PERSI issues a publicly available financial report that includes financial statements and the required supplementary information for PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov. Responsibility for administration of the Base Plan is assigned to the Board comprised of five members appointed by the Governor and confirmed by the Idaho Senate. State law requires that two members of the Board be active Base Plan members with at least ten years of service and three members who are Idaho citizens not members of the Base Plan except by reason of having served on the Board. Employee membership data related to the PERSI Base Plan, as of June 30, 2015 was as follows: Active Plan Members 67,008 Terminated employees entitled to but not yet receiving benefits 11,859 Retirees and beneficiaries currently receiving benefits 42,657 124,524 Pension Benefits The Base Plan provides retirement, disability, death and survivor benefits of eligible members or beneficiaries. Benefits are based on members’ years or service, age, and highest average salary. Members become fully vested in their retirement benefits with five years of credited service (5 months for elected or appointed officials). Members are eligible for retirement benefits upon attainment of the ages specified for their employment classification. The annual service retirement allowance for each month of credited service is 2.0% (2.3% for police/firefighters) of the average salary for the highest consecutive 42 months. Amounts in parenthesis represent police/firefighters. The benefit payments for the Base Plan are calculated using a benefit formula adopted by the Idaho Legislature. The Base Plan is required to provide a 1% minimum cost of living increase per year provided the Consumer Price Index increases 1% or more. The PERSI Board has the authority to provide higher cost of living increases to a maximum of the Consumer Price Index movement or whichever is less; however, any amount above the 1% minimum is subject to review by the Idaho Legislature. Member and Employer Contributions Member and employer contributions paid to the Base Plan are set by statute and established as a percent of covered compensation and earnings from investments. Contribution rates are determined by the PERSI Board within limitations, as defined by state law. The Board may make periodic changes to employer and employee contribution rates (expressed as percentages of annual covered payroll) if current rates are actuarially determined to be inadequate or in excess to accumulate sufficient assets to pay benefits when due. CITY OF BLACKFOOT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015 ---PAGE BREAK--- 17. PUBLIC EMPLOYEES RETIREMENT SYSTEM, continued The contribution rates for employees are set by stature at 60% (72%) of the employer rate. As of June 30, 2014 it was 6.79% The employer contribution rate is set by the Retirement Board and was11.32% (11.66%) of covered compensation. The City’s contributions were $391,556 for the year ended June 30, 2015. Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At June 30, 2015 the City reported a liability for its proportionate share of the net pension liability. The net pension liability was measured as of July 1, 2015, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City’s proportion of the net pension liability was based on the City’s share of contributions in the Base Plan pension plan relative to the total contributions of all participation PERSI Base Plan employers. At July 1, 2015, the City’s proportion was .01234918 percent. For the year ended September 30, 2015, City recognized pension expense (revenue) of $324,057. At September 30, 2015, the City reported deferred outflows of resources related to pension from the following sources: $80,000 reported as deferred outflows of resources related to pensions resulting from Employer contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending September 30, 2015. The average of the expected remaining service lives of all employees that are provided with pensions through the System (active and inactive employees) determined at July 1, 2013 the beginning of the measurement period ended June 30, 2014 is 5.5 years. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense (revenue) as follows: Year ended June 30: 2015 $(166,812) 2016 $(166,812) 2017 $(166,812) 2018 $121,076 2019 $(11,848) Thereafter $ 0 — 59 — ---PAGE BREAK--- 17. PUBLIC EMPLOYEES RETIREMENT SYSTEM, continued The total pension liability in the July 1, 2015 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 3.25% Salary increases 4.25-10.00% Salary inflation 3.75% Investment rate of return 7.10%, net of investment expenses Cost-of-living adjustments 1% Mortality rates were based on the RP-2000 combined table for healthy males or females as appropriate with the following offsets: • Set back 3 years for teachers • No offset for mail fire and police • Forward one year for female fire and police • Set back one year for all general employees and all beneficiaries An experience study was performed in 2012 for the period July 1, 2007 through June 30, 2011 which reviewed all economic and demographic assumptions other than mortality. Mortality and all economic assumptions were studied in 2014 for the period from July 1, 2009 through June 30, 2013. The Total Pension Liability as of June 30, 2015 is based on the results of an actuarial valuation date of July 1, 2015. The long-term expected rate of return on pension plan investments was determined using the building block approach and a forward- looking model in which best estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighing the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Even though history provides a valuable perspective for setting the investment return assumption, the System relies primarily on an approach which builds upon the latest capital market assumptions. Specifically, the System uses consultants, investment managers and trustees to develop capital market assumptions in analyzing the System’s asset allocation. The assumptions and the System’s formal policy for asset allocation are shown below. The formal asset allocation policy is somewhat more conservative than the current allocation of System’s assets. The best-estimate range for the long-term expected rate of return is determined by adding expected inflation to expected long-term real returns and reflecting expected volatility and correlation. The capital market assumptions are as of January 1, 2014. — 60 — ---PAGE BREAK--- 17. PUBLIC EMPLOYEES RETIREMENT SYSTEM, continued Discount Rate The discount rate used to measure the total pension liability was 7.10%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current contribution rate. Based on these assumptions, the pension plans’ net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. The long-term expected rate of return was determined met of pension plan investment expense but without reduction for pension plan administrative expense. Sensitivity of the Employer’s proportionate share of the net pension liability to changes in the discount rate. The following presents the Employer’s proportionate share of the net pension liability calculated using the discount rate of 7.10 percent, as well as what the Employer’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (6.10 percent) or 1-percentange-point higher (8.10 percent) than the current rate: Pension plan fiduciary net positon Detailed information about the pension plan’s fiduciary net position is available in the separately issued PERSI financial report. PERSI issues a publicly available financial report that includes financial statements and the required supplementary information for PERSI. That report may be obtained on the PERSI website at www.persi.gov. 18. ADOPTION OF NEW STANDARD As of October 1, 2014, the City adopted GASB Statement No. 68, Accounting and Financial Reporting for Pensions and GASB Statement No.71 Pension Transition for Contributions Made Subsequent to the Measurement Date. The implementation of these standards requires governments to calculate and report the cost and obligations associated with pensions in their financial statements, including additional note disclosures and required supplementary information. Beginning net position was restated to retroactively report the beginning net pension liability and deferred outflows of resources related to contributions made after the measurement date as follows: Governmental Business - Activities Type Activities Net position at September 30, 2014, as previously reported $19,817,932 $14,736,759 Net pension liability adjustment 1,669,602 379,720 Net position as restated, October 1, 2014 $18,148,330 $14,357,039 — 61 — ---PAGE BREAK--- — 62 — Page Left Intentionally Blank ---PAGE BREAK--- — 63 — 2015 2015 Required Supplemental Information The Street Department is going to redo Jones Street in 2016. Along with several other streets behind the fairgrounds. This area is seen by thousands of people during the Eastern Idaho State Fair. Although the franchise fee increase did not pass, the street department is working very hard to refurbish and maintain our City Streets. Within the next 10 years, the City will be working on many of the streets. Blackfoot Now and in 10 Years Jones Street ---PAGE BREAK--- — 64 — ---PAGE BREAK--- — 65 — CITY OF BLACKFOOT REQUIRED SUPPLEMENTARY INFORMATION GENERAL FUND YEAR ENDED SEPTEMBER 30, 2015 Schedule of Employer’s Share of Net Pension Liability PERSI – Base Plan Last 10 – Fiscal Years * 2015 Employer’s portion of net the pension liability . 01234918% Employer’s proportionate share of the net pension liability $1,626,186 Employer’s covered-employee payroll $5,172,945 Employer’s proportional share of the net pension as a percentage of its covered Employee payroll 31% Plan fiduciary net position as a percentage of the total pension liability 91.35% *GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend iscompiled, the City of Blackfoot, Idaho will present information for those use for which information is available. Data reported is measured as of July 1, 2015. Schedule of Employer Contributions PERSI – Base Plan Last 10 – Fiscal Years* 2015 Statutorily required contribution $403,944 Contributions in relation to the statutorily required contribution $396,706 Contribution (deficiency) excess ($7,238) Employer’s covered-employee payroll $5,172,945 Contributions as a percentage of covered-employee payroll 7.8% *GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the City of Blackfoot, Idaho will present information for those use for which information is available. Data reported is measured as of July 1, 2015. ---PAGE BREAK--- — 66 — CITY OF BLACKFOOT STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GENERAL FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance & Final Favorable (GAAP) Actual (Unfavorable) REvENUE: Taxes: Property taxes $ 3,139,218 $ 3,237,744 $ 98,526 Sales and use taxes 376,132 370,641 (5,491) Franchise taxes 180,000 104,791 (75,209) Subtotal taxes 3,695,350 3,713,176 17,826 Licenses and permits: Business licenses 18,000 34,247 16,247 Building permits 20,000 46,669 26,669 Dog and bicycle licenses 450 2,009 1,559 Subtotal licenses and permits 38,450 82,925 44,475 Intergovernmental: Liquor apportionment 115,000 146,425 31,425 State revenue sharing 419,184 407,089 (12,095) Blackfoot - Snake River Fire District 708,088 708,088 0 School resource officer 170,746 170,746 0 State and Federal grants 82,000 4,059 (77,941) Subtotal intergovernmental 1,495,018 1,436,407 (58,611) Miscellaneous: Administrative charges 678,924 635,518 (43,406) Fines and forfeitures 96,000 74,642 (21,358) Interest 31,900 38,915 7,015 Miscellaneous 5,000 40,345 35,345 Subtotal miscellaneous 811,824 789,420 (22,404) Total revenue 6,040,642 6,021,928 (18,714) EXPENDITURES: Administrative: Salaries 280,806 308,391 (27,585) Benefits 248,565 205,204 43,361 Travel and meeting 17,100 9,463 7,637 Office supplies 69,545 61,715 7,830 Maintenance 66,000 57,181 8,819 Utilities and telephone 21,200 14,966 6,234 Professional services 144,680 141,671 3,009 Department supplies & other 69,300 15,262 54,038 Insurance 8,537 8,537 0 Contingency 50,000 35,966 14,034 Subtotal administrative 975,733 858,356 117,377 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- CITY OF BLACKFOOT STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (continued) GENERAL FUND YEAR ENDED SEPTEMBER 30, 2015 Variance Final Favorable (GAAP) Actual (Unfavorable) EXPENDITURES: Police: Salaries $ 1,473,466 $ 1,442,087 $ 31,379 Benefits 1,0146,306 829,765 186,541 Clothing Allowance 20,000 17,956 2,044 Travel and training 25,000 34,112 (9,112) Office supplies 16,100 14,025 2,075 Maintenance 69,000 74,064 (5,064) Utilties and telephone 16,200 9,731 6,469 Fuel 85,000 43,898 41,102 Professional services 2,500 2,960 (460) Department supplies & other 65,000 52,863 12,137 Insurance 26,281 26,281 0 Bingham County 218,063 219,562 (1,499) Capital outlay 120,800 118,642 2,158 Subtotal police 3,153,716 2,885,946 267,770 Fire: Salaries $ 840,110 $ 899,146 $ (59,036) Benefits 700,806 633,048 67,758 Protective clothing 5,000 4,528 472 Travel and training 12,500 8,935 3,565 Office supplies 3,465 6,821 (3,356) Maintenance 25,900 36,566 (10,666) Utilties and telephone 42,200 26,020 16,180 Fuel 15,000 6,594 8,406 Professional services 6,500 4,754 1,746 Department supplies 44,000 16,517 27,483 Insurance 14,342 14,902 (560) Capital outlay 85,000 125,485 (40,485) Subtotal fire 1,794,823 1,783,316 11,507 — 67 — The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 68 — CITY OF BLACKFOOT STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUALL (continued) GENERAL FUND YEAR ENDED SEPTEMBER 30, 2015 Variance Final Favorable Budget Actual (Unfavorable) EXPENDITURES: Building and Zoning: Salaries $ 68,611 $ 52,539 $ 16,072 Benefits 36,481 31,859 4,622 Travel and training 5,000 2,685 2,315 Office supplies 5,650 5,527 123 Maintenance 9,000 1,040 7,960 Utilties and telephone 2,000 1,949 51 Fuel 1,200 934 266 Professional services 30,000 11,183 18,817 Insurance 1,576 1,576 0 Subtotal Buildings and Zoning 159,518 109,292 50,226 Total expenditures 6,083,790 5,636,910 446,880 EXCESS REvENUE (EXPENDITURES) (43,148) 385,018 428,166 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 (547,001) (547,001) EXCESS REvENUE/SOURCES (EXPENDITURES/USES) 43,148) (161,983) 118,835) FUND BALANCE - BEGINNING 851,146 FUND BALANCE - ENDING $ 689,163 ---PAGE BREAK--- CITY OF BLACKFOOT STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL STREET FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Property taxes $ 13,189 $ 13,189 Highway users tax $ 394,342 414,054 19,712 State sales tax 75,601 77,093 1,492 County road and street 110,000 38,639 (71,361) Franchise Fees 55,000 84,637 29,637 State and Federal Grants 800,000 0 (800,000) Miscellaneous 700 700 Interest on investments 21,750 18,684 (3,066) Total revenue 1,456,693 646,996 (809,697) EXPENDITURES: Salaries 275,608 253,132 22,476 Benefits 220,478 166,018 54,460 Clothing 3,200 2,049 1,151 Travel and training 4,000 1,220 2,780 Office supplies 1,600 1,653 (53) Maintenance 52,000 32,092 19,908 Utilities and telephone 172,500 146,491 26,009 Fuel 50,000 31,979 18,021 Professional services 10,500 10,576 (76) Department supplies and other 92,850 48,630 44,220 Insurance 15,590 15,590 0 Grant expense 1,000,000 87 999,913 Construction materials 107,321 203,237 (95,916) Capital outlay 15,550 83,029 (67,479) Total expenditures 2,021,197 995,783 1,025,414 EXCESS REvENUE (EXPENDITURES) (564,504) (348,787) 215,717 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 0 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ (564,504) (348,787) $ 215,717 FUND BALANCE - BEGINNING 1,012,122 FUND BALANCE - ENDING $ 663,335 — 69 — The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 70 — The accompanying notes are an integral part of these statements. CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL AMBULANCE FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Hospital collections - ambulance $ 600,000 $ 704,063 $ 104,063 County ambulance 545,900 554,787 8,887 Bingham Memorial - Contribution 60,000 32,281 (27,719) Miscellaneous 5,000 600 (4,400) Total revenue 1,210,900 1,291,731 80,831 EXPENDITURES: Salaries 638,227 580,838 57,389 Benefits 578,953 447,564 131,389 Protective Clothing 3,000 2,458 542 Travel and training 6,000 6,204 (204) Office supplies 4,100 1,533 2,567 Maintenance 20,000 31,322 (11,322) Utilities and telephone 3,000 3,339 (339) Fuel 20,000 21,650 (1,650) Professional services 500 500 Department supplies & other 30,000 25,343 4,657 Collection expense & refunds 63,000 48,418 14,582 Insurance 9,613 9,613 0 Capital outlay 0 5,760 (5,760) Total expenditures 1,376,393 1,184,042 192,351 EXCESS REvENUE (EXPENDITURES) (165,493) 107,689 273,182 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds (20,000) (20,000) (40,000) EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ (185,493) (87,689) $ 233,182 FUND BALANCE - BEGINNING (506,817) FUND BALANCE - ENDING $ (419,128) ---PAGE BREAK--- — 71 — Page Left Intentionally Blank ---PAGE BREAK--- — 72 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL PARKS AND RECREATION FUND YEAR ENDED SEPTEMBER 30, 2015 Variance Original Final Favorable Budget Budge Actual (Unfavorable) REvENUE: Property taxes $ 209,281 $ 209,281 $ 215,089 $ 5,808 State sales tax 26,000 26,000 26,499 499 County participation 20,000 20,000 20,000 0 Golf Course 347,000 347,000 340,147 (6,853) Park and recreation fees & donations 16,800 16,800 10,923 (5,877) Recreation fees & donations 19,000 19,000 14,955 (4,045) Swimming pool fees & donations 147,600 147,600 154,584 6,984 Storm water mainenance fee 10,000 10,000 10,000 0 Grants 300 295,094 300 (294,794) Other 0 0 3,526 3,526 Interest on investments 0 0 1,535 1,535 Total revenue 795,981 1,090,775 797,558 293,217 EXPENDITURES (parks): Salaries 153,531 153,531 137,735 15,796 Benefits 69,373 69,373 52,856 16,517 Clothing allowance 600 600 450 150 Travel and training 2,000 2,000 92 1,908 Office supplies 1,450 1,450 690 760 Maintenance 65,500 65,500 82,884 (17,384) Utilities and telephone 16,000 16,000 14,054 1,946 Fuel 20,000 20,000 12,098 7,902 Professional servies 500 500 1,098 (598) Department supplies and other 26,150 26,150 17,271 8,879 Insurance 3,870 3,870 4,262 (392) Jensen Grove water 6,250 6,250 1,513 4,737 Capital outlay 10,500 10,500 10,592 (92) Total expenditures (parks) 375,724 375,724 335,595 40,129 EXPENDITURES (recreation): Salaries 94,107 94,107 91,655 2,452 Benefits 37,081 37,081 35,257 1,824 Clothing allowance 500 500 827 (327) Travel and training 2,000 2,000 495 1,505 Office supplies 0 0 38 (38) Maintenance 29,400 29,400 39,625 (10,225) Utilities and telephone 7,950 7,950 7,218 732 Fuel 8,500 8,500 4,054 4,446 Professional services 500 500 40 460 Department supplies and other 25,000 25,000 18,120 6,880 Insurance 2,138 2,138 2,138 0 Grants 0 236,552 11,953 224,599 Capital outlay 55,500 55,500 10,291 45,209 Total expenditures (recreation) 262,676 499,228 221,711 277,51 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 73 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL PARKS AND RECREATION FUND, continued YEAR ENDED SEPTEMBER 30, 2015 Variance Original Final Favorable Budge Budget Actual (Unfavorable) EXPENDITURES (pool): Salaries $ 213,779 $213,779 $ 182,141 $ 31,638 Benefits 52,520 52,520 39,677 12,843 Clothing allowance 750 750 386 364 Travel and training 4,000 4,000 2,954 1,046 Office supplies 3,550 3,550 2,671 879 Maintenance 19,350 19,350 39,187 (19,837) Utilties and telephone 60,800 60,800 62,497 (1,697) Professional services 1,000 1,000 698 302 Department supplies and other 21,150 21,150 23,788 (2,638) Insurance 3,184 3,184 4,541 (1,357) Capital outlay 0 0 0 0 Total expenditures (pool) 380,083 380,083 358,540 21,543 EXPENDITURES (golf): Salaries 185,457 185,457 181,121 4,336 Benefits 98,920 98,920 86,952 11,968 Clothing allowance 250 250 500 (252) Travel and training 2,500 2,500 828 1,672 Office supplies 3,650 3,650 11,665 (8,015) Maintenance 60,250 60,250 61,198 (948) Utilties and telephone 29,000 29,000 34,877 (5,877) Fuel 15,500 15,500 14,829 671 Professional Services 500 500 160 340 Department supplies and other 36,600 36,600 33,397 3,203 Insurance 4,451 4,541 3,184 1,357 Capital Outlay 7,000 7,000 7,000 Total expenditures (golf) 444,168 444,168 15,455 Total expenditures 1,462,651 1,699,203 1,344,599 354,644 EXCESS REvENUE (EXPENDITURES) (666,970) (608,428) (547,001) 61,429 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 547,001 547,001 EXCESS REvENUE/SOURCES (EXPENDITURES/USES) $ (666,970) $ (608,428) 0 $ 608,428 FUND BALANCE - BEGINNING 0 FUND BALANCE - ENDING $ 0 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL WATER CAPITAL FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Interest on investments $ 0 $ 0 $ 0 Miscellaneous 0 Total revenue 0 0 0 EXPENDITURES: Capital outlay 0 Total expenditures 0 0 0 EXCESS REvENUE (EXPENDITURES) 0 0 0 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 300,000 300,000 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 300,000 $ 300,000 FUND BALANCE - BEGINNING 1,500,000 FUND BALANCE - ENDING $ 1,800,000 — 74 — ---PAGE BREAK--- CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL WASTEWATER CAPITAL FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Interest on investments $ 0 $ 0 $ 0 Miscellaneous Total revenue 0 0 0 EXPENDITURES: Capital outlay 0 Total expenditures 0 0 0 EXCESS REvENUE (EXPENDITURES) 0 0 0 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 700,000 700,000 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 700,000 $ 700,000 FUND BALANCE - BEGINNING 300,000 FUND BALANCE - ENDING $ 1,000,000 — 75 — ---PAGE BREAK--- — 76 — BLACKFOOT URBAN RENEWAL AGENCY SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Property taxes $ 420,000 $ 571,008 $ 151,008 Investment Income 655 1,059 404 Grant Application fees 100 100 Total revenue 420,655 572,167 151,512 EXPENDITURES: Administration 8,000 6,019 1,981 Profession fees 16,000 14,743 1,257 Projects: Downtown District: Glambia Food 36,245 (36,245) Nuart 26,960 (26,960) Economic Development 900,000 900,000 Façade Improvements 60,000 6,976 53,024 Potato Museum 75,000 41,786 33,214 West Bridge Parking Lot 70,807 (70,807) Riverview District: Technology Park 40,000 (40,000) Façade Improvements 30,000 30,000 Economic Development 100,000 100,000 Tax note payments 130,000 113,800 16,200 Total expenditures 1,319,000 357,336 961,664 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ (898,345) 214,831 $ 1,113,176 FUND BALANCE - BEGINNING 1,067,107 FUND BALANCE - ENDING $ 1,281,938 The accompanying notes are an integral part of these statements. ---PAGE BREAK--- — 77 — 2015 2015 Supplemental Information Blackfoot Now and in 10 Years Blackfoot Golf Course The City of Blackfoot would like to replace the benches on the Golf Course. The City is hoping to be able to buy nice benches with either a plaque or engraving on the benches. The City would like to ask local business owners to purchase the benches as advertising. ---PAGE BREAK--- — 78 — ---PAGE BREAK--- — 79 — PAGE LEFT INTENTIONALLY BLANK ---PAGE BREAK--- — 80 — Capital Airport Cemetery Library Improvements ASSETS: Fund Fund Fund Fund Cash and investments $ 451,965 $ 20,834 $ 90,030 $ 299,340 Receivables: Property taxes 1,002 4,741 11,118 2,219 Bingham County 1,957 2,918 2,726 86 Grants receivable 72,789 Total assets $ 527,713 $ 28,493 $ 103,874 $ 301,645 LIABILITIES: Accounts payable $ 109,164 $ 3,358 $ 47,242 Due to other funds Deferred revenue 848 4,219 9,775 $ 1,943 Total liabilities 110,012 7,577 57,017 1,943 FUND BALANCE: Assigned - Capital Improvements Assigned - Connection fees Committed 417,701 20,916 46,857 299,702 Total fund balance 417,701 20,916 46,857 299,702 Total liabilities and fund balance $ 527,713 $ 28,493 $ 103,874 $ 301,645 CITY OF BLACKFOOT COMBINING BALANCE SHEET NON-MAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 81 — Fire and Golf Health Total Ambulance Course Street Sanitation Library Care Nonmajor Replacement Capital Capital Capital Capital Reserve Governmental Fund Fund Fund Fund Fund Fund Funds $ 1,759 $ 600,000 $ 300,000 $ 64,601 $ 95,710 $ 1,924,239 19,080 7,687 72,789 $ 0 $ 1,759 $ 600,000 $ 300,000 $ 64,601 $ 95,710 $ 2,023,795 $ 159,764 85,575 85,575 16,785 $ 85,575 $ 0 $ 0 $ 0 $ 0 $ 0 262,124 (85,575) 1,759 600,000 300,000 64,601 880,785 0 95,710 880,886 (85,575) 1,759 600,000 300,000 64,601 95,710 1,761,671 $ 0 $ 1,759 $ 600,000 $ 300,000 $ 64,601 $ 95,710 $ 2,023,795 ---PAGE BREAK--- — 82 — Capital Airport Cemetery Library Improvements REvENUES: Fund Fund Fund Fund Property taxes $ 7,479 $ 114,311 $ 222,632 $ 41,333 Sales and uses taxes 7,112 10,555 8,864 Licenses and fees 55,456 61,800 18,029 Grants and contributions 402,050 10,000 800 Blackfoot Rural Library District 183,363 Interest 6,620 788 2,908 4,649 Miscellaneous 1,631 183 Total revenues $ 480,348 $ 197,637 $ 436,596 $ 45,982 EXPENDITURES: General government 176,721 Public safety Airport 492,263 Library 407,925 Total expenditures 492,263 176,721 407,925 0 EXCESS REvENUE (EXPENDITURES) (11,915) 20,916 28,671 45,982 OTHER FINANCING SOURCES (USES): Operating transfers (to) from other funds EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) (11,915) 20,916 28,671 45,982 FUND BALANCE - BEGINNING 429,616 0 18,186 253,720 FUND BALANCE - ENDING $ 417,701 $ 20,916 $ 46,857 $ 299,702 CITY OF BLACKFOOT COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NON-MAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2015 ---PAGE BREAK--- — 83 — Fire and Golf Health Total Ambulance Course Street Sanitation Library Care Nonmajor Replacement Capital Capital Capital Capital Reserve Governmental Fund Fund Fund Fund Fund Fund Funds $ 385,755 26,531 $ 197,625 332,910 412,850 183,363 $ 44 $ 1,012 418 16,439 79 1,893 $ 0 $ 123 $ 0 $ 0 $ 1,012 $ 198,043 $ 1,359,741 176,721 146,339 158,060 304,399 492,263 407,925 146,339 0 0 0 0 $ 158,060 $ 1,381,308 (146,339) 123 0 0 1,012 39,983 (21,567) 20,000 20,000 (126,339) 123 0 0 1,012 39,983 (1,567) 40,764 1,636 600,000 300,000 63,589 55,727 1,763,238 $ (85,575) $ 1,759 $ 600,000 $ 300,000 $ 64,601 $ 95,710 $ 1,761,671 ---PAGE BREAK--- CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL AIRPORT FUND YEAR ENDED SEPTEMBER 30, 2015 Variance Original Finall Favorable Budget Budget Actual (Unfavorable) REvENUE: Property taxes $ 6,335 $ 6,335 $ 7,479 $ 1,144 Charges for services 35,000 35,000 24,615 (10,385) Fuel 50,000 50,000 30,841 (19,159) State sales tax 6,975 6,975 7,112 137 Miscellaneous 250 250 1,631 1,381 Grants and contributions 1,500 432,811 402,050 (30,761) Interest on investments 5,075 5,075 6,620 1,545 Total revenue 105,135 536,446 480,348 (56,098) EXPENDITURES: Salaries 16,000 16,000 13,000 3,000 Benefits 3,035 3,035 2,354 681 Office Supplies 450 450 696 (246) Travel and training 1,027 (1,027) Maintenance 11,500 11,500 27,348 (15,848) Utilities and telephone 10,440 10,440 10,032 408 Fuel 50,000 1,873 50,000 48,127 Professional services 7,200 7,200 7,365 (165) Department supplies and other 2,000 2,000 2,000 Insurance 4,510 4,510 4,510 0 Grant Expense 431,311 420,058 11,253 Capital outlay 4,000 (4,000) Total expenditures 105,135 536,446 492,263 44,183 EXCESS REvENUE (EXPENDITURES) 0 (11,915) (11,915) OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 0 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 (11,915) $ (11,915) FUND BALANCE - BEGINNING 429,616 FUND BALANCE - ENDING $ 417,701 The accompanying notes are an integral part of these statements. — 84 — ---PAGE BREAK--- — 85 — The accompanying notes are an integral part of these statements. CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL CEMETERY FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Property taxes $ 115,044 $ 114,311 $ (733) Charges for services 40,000 61,800 21,800 State sales tax 10,352 10,555 203 Miscellaneous 183 183 Grants and contributions 20,000 10,000 (10,000) Interest on investments 788 788 Total revenue 185,396 197,637 12,241 EXPENDITURES: Salaries 73,558 76,445 (2,887) Benefits 39,698 35,383 4,315 Clothing 100 48 52 Office supplies 400 89 311 Travel and training 1,500 33 1,467 Maintenance 30,520 22,983 7,537 Utilities and telephone 4,250 2,973 1,277 Fuel 6,000 1,390 4,610 Professional Services 0 57 (57) Department supplies and other 3,200 5,370 (2,170) Insurance 1,170 1,170 0 Grant expense 20,000 12,586 7,414 Capital Outlay 5,000 18,194 (13,194) Total expenditures 185,396 176,721 8,675 EXCESS REvENUE (EXPENDITURES) 0 20,916 20,916 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 0 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 20,916 $ 20,916 FUND BALANCE - BEGINNING 0 FUND BALANCE - ENDING $ 20,916 ---PAGE BREAK--- — 86 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LIBRARY FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Property taxes $ 220,897 $ 222,632 $ 1,735 Charges for services 16,500 18,029 1,529 State sales tax 8,864 8,864 Blackfoot Rural Library District 304,588 183,363 (121,225) Federal and State grants 25,000 (25,000) Interest on investments 3,770 2,908 (862) Private contributions 1,000 800 (200) Total revenue 571,755 436,596 (135,159) EXPENDITURES: Salaries 214,783 190,173 24,610 Benefits 53,171 42,323 10,848 Books and subscriptions 115,134 73,294 41,840 Travel and training 1,750 196 1,554 Office supplies 6,000 6,713 (713) Maintenance 33,400 53,652 (20,252) Utilities and telephone 11,450 13,543 (2,093) Professional services 5,500 1,773 3,727 Department supplies and other 65,900 11,671 54,229 Insurance 4,666 4,666 0 Grant expenses 25,000 25,000 Capital outlay 70,000 9,921 60,079 Total expenditures 606,754 407,925 198,829 EXCESS REvENUE (EXPENDITURES) (34,999) 28,671 63,670 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 35,000 0 (35,000) EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 1 28,671 $ 28,670 FUND BALANCE - BEGINNING 18,186 FUND BALANCE - ENDING $ 46,857 ---PAGE BREAK--- — 87 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL CAPITAL IMPROVEMENTS FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Property taxes $ 0 $ 41,333 $ 41,333 Interest on investments 4,649 4,649 Total revenue $ 0 45,982 45,982 EXPENDITURES: Capital outlay 0 0 0 Total expenditures 0 0 0 EXCESS REvENUE (EXPENDITURES) 0 45,982 45,982 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 45,982 $ 45,982 FUND BALANCE - BEGINNING 253,720 FUND BALANCE - ENDING $ 299,702 ---PAGE BREAK--- — 88 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FIRE AND AMBULANCE REPLACEMENT FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Interest on investments $ 0 $ 0 $ 0 Total revenue 0 0 0 EXPENDITURES: Capital outlay 0 146,339 (146,339) Total expenditures 0 146,339 (146,339) EXCESS REvENUE (EXPENDITURES) 0 (146,339) (146,339) OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 20,000 20,000 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 (126,339) $ (126,339) FUND BALANCE - BEGINNING 40,764 FUND BALANCE - ENDING $ (85,575) ---PAGE BREAK--- — 89 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GOLF COURSE CAPITAL FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Interest on investments $ 0 $ 44 $ 44 Miscellaneous 79 79 Total revenue 0 $ 123 123 EXPENDITURES: Capital outlay 0 Total expenditures 0 0 0 EXCESS REvENUE (EXPENDITURES) 0 123 123 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 123 $ 123 FUND BALANCE - BEGINNING 1,636 FUND BALANCE - ENDING $ 1,759 ---PAGE BREAK--- CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL STREET CAPITAL FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Interest on investments $ 0 $ 00 $ 0 Miscellaneous 0 Total revenue 0 0 0 EXPENDITURES: Capital outlay 0 Total expenditures 0 0 0 EXCESS REvENUE (EXPENDITURES) 0 0 0 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 0 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 0 $ 0 FUND BALANCE - BEGINNING 600,000 FUND BALANCE - ENDING $ 600,000 — 90 — ---PAGE BREAK--- CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SANITATION CAPITAL FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Interest on investments $ 0 $ 0 $ 0 Miscellaneous 0 Total revenue 0 0 0 EXPENDITURES: Capital outlay 0 Total expenditures 0 0 0 EXCESS REvENUE (EXPENDITURES) 0 0 0 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 0 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 0 $ 0 FUND BALANCE - BEGINNING 300,000 FUND BALANCE - ENDING $ 300,000 — 91 — ---PAGE BREAK--- — 92 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LIBRARY CAPITAL FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Interest on investments $ 0 $ 1,012 $ 1,012 Miscellaneous 0 Total revenue 0 1,012 1,012 EXPENDITURES: Capital outlay 0 Total expenditures 0 0 0 EXCESS REvENUE (EXPENDITURES) 0 1,012 1,012 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 1,012 $ 1,012 FUND BALANCE - BEGINNING 63,589 FUND BALANCE - ENDING $ 64,601 ---PAGE BREAK--- — 93 — CITY OF BLACKFOOT SCHEDULE OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HEALTH CARE RESERVE FUND YEAR ENDED SEPTEMBER 30, 2015 Original Variance and Final Favorable Budget Actual (Unfavorable) REvENUE: Reserve receipts $ 0 $ 197,625 $ 197,625 Interest on investments 418 418 Total revenue 0 198,043 198,043 EXPENDITURES: Health care expenses 156,774 (156,774) Benefits administration 1,286 (1,286) Total expenditures 0 158,060 (158,060) EXCESS REvENUE (EXPENDITURES) 0 39,983 39,983 OTHER FINANCING SOURCES (USES): Transfers (to) from other funds 0 0 0 EXCESS REvENUE/SOURCES OR (EXPENDITURES/USES) $ 0 39,983 $ 39,983 FUND BALANCE - BEGINNING 55,727 FUND BALANCE - ENDING $ 95,710 ---PAGE BREAK--- — 94 — THIS PAGE LEFT INTENTIONALLY BLANK ---PAGE BREAK--- — 95 — 2015 2015 Single Audit Secton The City of Blackfoot would like to replace the cart paths out at the Blackfoot Golf Course. This will help improve the golfing experience and help the golf course acquire additional revenue. Blackfoot Now and in 10 Years Blackfoot Golf Course ---PAGE BREAK--- — 96 — ---PAGE BREAK--- — 97 — ---PAGE BREAK--- — 98 — ---PAGE BREAK--- — 99 — ---PAGE BREAK--- — 100 — ---PAGE BREAK--- — 101 — CITY OF BLACKFOOT SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED SEPTEMBER 30, 2015 Catalogue of Federal Title Domestic Assistance Number Expenditures Department of Justice: Missing children (St. of Id. Pass thru funding) 16,543 $ 1,989 Environmental Protection Agency (Direct Funding): Capitalization Grants & Revolving Loans 66,468 239,474 Department of Housing & Urban Development (Direct Funding): Community Development Block Grant 14,228 13,380 Department of Transportation Community highway safety (St. of Id. Pass thru funding) 20,600 3,603 Airport Improvment (Direct Funding) 20,106 357,333 Total $ 615,779 Note 1 Basis of Presentation The above schedule of expenditures of Federal awards includes the federal grant activity of the City of Blackfoot, Idaho and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular A-133, "Audits of State and Local Governments and Non-Profit Organizations." ---PAGE BREAK--- — 102 —