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79 INDEX TO ILLUSTRATIVE REQUIRED SUPPLEMENTARY INFORMATION POLICE OFFICER AND FIREMEN’S PENSION FUNDS Funding Progress Schedule BUDGETARY INFORMATION Budgetary Comparison Schedule- General Fund Notes to Required Supplementary Information – Budgetary Comparisons ---PAGE BREAK--- 79 CITY OF LARAMIE, WYOMING REQUIRED SUPPLEMENTAL INFORMATION POLICE OFFICER AND FIREMEN’S PENSION FUND Actuarial Accrued Accrued Percentage Value of Liabilities Liabilities Funded Covered of Covered Valuation Date Assets Entry Age (UAAL) Ratio Payroll Payroll January 1, 2005 192,097 $ 185,647 $ (6,450) $ 103.47% 1,472 $ -438.18% January 1, 2006 188,318 187,452 (866) 100.46% 1,271 -68.14% January 1, 2007 191,124 187,953 (3,171) 101.69% 1,076 -294.70% January 1, 2008 200,588 188,368 (12,220) 106.49% 938 -1302.77% January 1, 2009 162,628 192,506 29,878 84.48% 762 3921.00% Unfunded Actuarial Actuarial UAAL as a Actuarial Accrued Accrued Percentage Value of Liabilities Liabilities Funded Covered of Covered Valuation Date Assets Entry Age (UAAL) Ratio Payroll Payroll January 1, 2005 46,680 $ 40,769 $ (5,911) $ 114.50% 14,584 $ -40.53% January 1, 2006 51,900 47,153 (4,747) 110.07% 15,689 -30.26% January 1, 2007 59,057 54,667 (4,390) 108.03% 17,359 -25.29% January 1, 2008 68,227 64,475 (3,752) 105.82% 19,082 -19.66% January 1, 2009 62,332 64,589 2,257 96.51% 20,842 10.83% Unfunded Actuarial Actuarial UAAL as a Actuarial Accrued Accrued Percentage Value of Liabilities Liabilities Funded Covered of Covered Valuation Date Assets Entry Age (UAAL) Ratio Payroll Payroll January 1, 2005 230,699 $ 260,026 $ 29,327 $ 88.72% 89,352 $ 32.82% January 1, 2006 264,963 296,633 31,670 89.32% 98,071 32.29% January 1, 2007 322,970 331,483 8,513 97.43% 108,350 7.86% January 1, 2008 364,723 380,413 15,690 95.88% 119,165 13.17% January 1, 2009 325,946 390,846 65,000 83.39% 132,702 48.98% The following is a schedule of funding progress for the Police Officer Pension Plans (in thousands): Paid Firemen's Pension Plan B ---PAGE BREAK--- 80 CITY OF LARAMIE, WYOMING BUDGETARY COMPARISON SCHEDULE GENERAL FUND For the Year Ended June 30, 2009 Actual Variance with Amounts Final Budget (Budgetary Positive Original Final Basis) (Negative) REVENUES: Taxes and special assessments 2,983,500 $ 2,983,500 $ 3,368,276 $ 384,776 $ Licenses and permits 119,575 119,575 112,886 (6,689) Intergovernmental 21,642,181 21,917,161 20,053,117 (1,864,044) Charges for services 1,446,500 1,446,500 1,798,557 352,057 Fines and forfeitures 667,000 667,000 839,015 172,015 Investment income 400,000 400,000 286,870 (113,130) Miscellaneous 221,200 221,200 123,774 (97,426) Total Revenues 27,479,956 27,754,936 26,582,495 (1,172,441) EXPENDITURES: General government Executive- City Manager 485,345 485,345 451,267 34,078 Administrative services (Finance, Utility Billing, Human Resources) 1,891,331 1,890,127 1,656,417 233,710 Judicial 347,027 347,653 318,626 29,027 Legal 372,863 372,863 282,786 90,077 Other general government 2,995,389 3,061,967 2,655,614 406,353 Public safety Police 6,958,723 7,049,687 6,578,892 470,795 Fire 6,534,481 6,782,481 5,811,546 970,935 Engineering and code administration 1,889,884 1,889,884 1,011,283 878,601 Health and welfare Animal control 488,771 488,771 473,745 15,026 Mosquito control 313,090 313,090 299,832 13,258 Highways and streets 4,572,454 4,651,733 3,403,457 1,248,276 Culture and recreation Parks 1,227,747 1,227,747 1,017,071 210,676 Recreation 843,905 843,905 755,583 88,322 Cemetery 591,566 591,566 526,787 64,779 Total Expenditures 29,512,576 29,996,819 25,242,906 4,753,913 Excess (deficiency) of revenues over (under) expenditures (2,032,620) (2,241,883) 1,339,589 3,581,472 OTHER FINANCING SOURCES (USES): Operating transfers (out) (2,983,864) (2,983,864) (2,983,864) - Operating transfers in 383,922 383,922 1,279,922 - Total Other Financing Sources (Uses) (2,599,942) (2,599,942) (1,703,942) - Budgeted Amounts (Continued) ---PAGE BREAK--- 81 CITY OF LARAMIE, WYOMING BUDGETARY COMPARISON SCHEDULE GENERAL FUND For the Year Ended June 30, 2009 (Continued) Actual Variance with Amounts Final Budget (Budgetary Positive Original Final Basis) (Negative) Excess (deficiency) of revenues over expenditures and other financing sources (uses) (4,632,562) (4,841,825) (364,353) 4,477,472 Fund balance at beginning of year 17,320,437 17,320,437 17,320,437 - Fund balance at end of year 12,687,875 $ 12,478,612 $ 16,956,084 $ 4,477,472 $ Explanation of differences between budgetary revenue and expenditures and GAAP revenue and expenditures. Revenue: Actual total revenue budgetary basis 26,582,495 $ Differences- Budget to GAAP Other receivables difference - Total revenues as reported on the statement of revenues, expenditures, and changes in fund balance- governmental funds 26,582,495 $ Expenditures: Actual total expenditures budgetary basis 25,242,906 $ Differences- Budget to GAAP Accruals difference (87,043) Capital expenditures from lease proceeds 206,530 Total expenditures as reported on the statement of revenues, expenditures, and changes in fund balance- governmental funds 25,362,393 $ Budgeted Amounts ---PAGE BREAK--- 82 CITY OF LARAMIE, WYOMING NOTES TO REQUIRED SUPPLEMENTARY INFORMATION - BUDGETARY COMPARISONS June 30, 2009 A. Budgetary Basis Annual budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America for all governmental funds except the capital project funds, which are approved on a “life of the project basis”, and the permanent fund, which is not budgeted. Since all accounting principles applied for purposes of developing data on a budgetary basis differ significantly from those used to present financial statements in conformity with generally accepted accounting principles, a reconciliation of the resultant timing differences has been provided on page 81. All annual appropriations lapse at year end. B. Budgetary Information The appropriated budget is prepared by fund, function, and department. The government’s department heads, with the manager’s approval, may make transfers of appropriations within a department or division. Transfers of appropriations between departments and/or divisions require approval of the council. The legal level of budgetary control the level at which expenditures may not legally exceed appropriations) is the department level. The council made one supplementary budgetary appropriation during the year. C. Excess of Expenditures over Appropriations For the year ended June 30, 2009, there were no instances of excess of expenditures over appropriations.