Document Missoula_doc_897adad634

435 Ryman St., Missoula, MT 59803 (406) 552-6110 www.ci.missoula.mt.us CITY OF CITY OF MISSOULA, MONTANA MISSOULA, MONTANA Comprehensive Annual Financial Report Comprehensive Annual Financial Report For For Fiscal Year Ended June 30, 2008 Fiscal Year Ended June 30, 2008 PHOTOGRAPH COURTESY OF: MISSOULA PARKS & RECREATION DEPARTMENT ---PAGE BREAK--- ---PAGE BREAK--- Prepared by the Finance Department CITY OF CITY OF MISSOULA, MONTANA MISSOULA, MONTANA Comprehensive Annual Financial Report Comprehensive Annual Financial Report For For Fiscal Year Ended June 30, 2008 Fiscal Year Ended June 30, 2008 PHOTOGRAPH COURTESY OF: MISSOULA PARKS & RECREATION DEPARTMENT ---PAGE BREAK--- ---PAGE BREAK--- TABLE OF CONTENTS Page Introductory Section Letter of Transmittal IS-1 to 4 GFOA Certificate of Achievement IS-5 City of Missoula Organization Chart IS-6 Elected Officials and Administration Personnel IS-7 Financial Section Independent Auditors’ Report FS-1 to 2 Management Discussion and Analysis FS-3 to 11 Basic Financial Statements Government-Wide Financial Statements Statement of Net Assets FS-12 Statement of Activities FS-13 Fund Financial Statements Major Governmental Funds - Fund Descriptions FS-14 Governmental Fund Financial Statements Balance Sheet – Governmental Funds FS-15 Reconciliation of the Governmental Fund Balance Sheet to Statement of Net Assets … FS-16 Statement of Revenues Expenditures and Changes in Fund Balances– Governmental FS-17 Reconciliation of the Statement of Revenues Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities– Governmental Funds FS-18 Proprietary Fund Financial Statements Balance Sheet– Proprietary Funds FS-19 Statement of Revenues, Expenses and Changes in Fund Net Assets-Proprietary Funds FS-20 Statement of Cash Flows - Proprietary Fund Types FS-21 Fiduciary Fund Financial Statements Statement of Fiduciary Net Assets - Fiduciary Funds FS-22 Notes to Financial Statements (are an integral parts of the basic financial statements) … FS-23 to 53 Required Supplementary Information other than Management Discussion and Analysis Budget to Actual Comparison– General Fund Budgetary Comparison Statement - General FS-54 Supplemental Information Combining Financial Statement Nonmajor Governmental Fund Descriptions SI-1 to 6 Nonmajor Governmental Funds Combining Balance Sheet - Totals for Nonmajor Governmental Funds SI-7 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance - Totals for Nonmajor Governmental Funds SI-8 Combining Balance Sheet - Nonmajor Special Revenue Funds SI-9 to 14 Combining Balance Sheet - Nonmajor Debt Service Funds SI-15 to 24 Combining Balance Sheet - Nonmajor Capital Project Funds SI-25 to 29 Combining Statement of Revenues, Expenditures and Changes in Fund Balance - Nonmajor Special Revenue Funds SI-30 to 35 Combining Statement of Revenues Expenditures and Changes in Fund Balance - Nonmajor Debt Service Funds SI-36 to 46 Combining Statement of Revenues Expenditures and Changes in Fund Balance - Nonmajor Capital Projects SI-47 to 51 ---PAGE BREAK--- TABLE OF CONTENTS Page Supplemental Information (Continued) Agency Funds Combining Statement of Changes in Assets and Liabilities - Agency Funds SI-52 to 53 Major Governmental Funds - Budget to Actual Schedule of Revenues, Expenditures and changes in Fund Balances - Budget and Actual Budgeted Major Governmental Funds SI-54 Nonmajor Governmental Funds - Budget to Actual Schedule of Revenues, Expenditures and Changes in Fund Balances –Budget and Actual Budgeted Nonmajor Special Revenue Funds SI-55 to 68 Budgeted Nonmajor Debt Service Funds SI-69 to 95 Budgeted Nonmajor Capital Projects Funds SI-96 to 106 Statistical Section Net Assets by Component SS-1 Change in Net Assets SS-2 Fund Balance of Governmental Funds SS-3 Changes in Fund Balances of Governmental Funds SS-4 Overlapping Property Tax Levies SS-5 Estimated Market Value, Taxable Value and Mill Levy SS-6 Assessed Value and Estimated Actual Value of Taxable Property SS-7 Property Value and New Construction SS-8 Principle Property Taxpayers SS-9 Property Tax Levies and Collections SS-10 General Obligation Debt Ratios Required Continuing Disclosure SS-11 Summary of Direct Debt, Indirect Debt and Debt Ratios SS-12 Legal Debt Margin Information SS-13 Ratio of Outstanding Debt by Type SS-14 Ratio of Annual Debt Service Requirements for Last Ten Fiscal Years SS-15 Pledged-Revenue Coverage Wastewater Facility Revenue Bonds SS-16 Revolving Fund Year-End Balance Required Continuing Disclosure SS-17 Revolving Fund Changes in Fund Balance Required Continuing Disclose SS-18 Demographic and Economic Statistics SS-19 Top Ten Employers in City of Missoula SS-20 Full Time Equivalent City Government Employees by Function/Program SS-21 City Services and Employment SS-22 Employment by Major Industry Type SS-23 Operating Indicators by Function/Program SS-24 Capital Asset Statistics by Function/Program SS-25 Special Assessments Billed and Collected SS-26 Special Improvement District 512, 521, 522 SS-27 Missoula Parking Commission Rates and Fees SS-28 Missoula Parking Operations and SS-29 Component Unit Missoula Redevelopment Agency Historical Value of Tax Increment SS-30 Component Unit Missoula Redevelopment Agency Taxable Value of Districts Compared to City SS-31 Component Unit Missoula Redevelopment Agency Trends in Property Valuation in City…. SS-32 ---PAGE BREAK--- TABLE OF CONTENTS Page Single Audit Section Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards SA-1 to 2 Report on Compliance with Requirements Applicable to each Major Program on Internal Control over Compliance in Accordance with OMB Circular A– 133 SA-3 to 4 Schedule of Expenditures of Federal Awards SA-5 Notes to Schedule of Expenditures of Federal Awards SA-6 Schedule of Findings and Questioned Costs SA-7 to 8 Report on Prior Audit Report Recommendations SA-8 ---PAGE BREAK--- ---PAGE BREAK--- INTRODUCTORY INTRODUCTORY SECTION SECTION ---PAGE BREAK--- ---PAGE BREAK--- Page IS-1 Budget and Analysis Treasury FINANCE DEPARTMENT Finance and Debt Management Accounting/Utility Billing 435 Ryman Street, Missoula, Montana 59802 (406) 552-6107 FAX (406) 327-2217 DATE: December 18, 2008 TO: Mayor John Engen City Council Citizens of Missoula RE: Annual Financial Statements We are pleased to submit the audited Financial Statements of the City of Missoula, the financial reporting entity, for the fiscal year ended June 30, 2008. This report presents comprehensive financial and operating information about the City's activities that is useful to taxpayers, citizens, and other interested parties. The report includes all funds and account groups of the City of Missoula, the primary government. The Finance Department staff prepares the City's financial statements and is responsible for their integrity and objectivity. These statements are considered to present the City's financial position and results of operations fairly and consistently. The report has been prepared in accordance with generally accepted accounting principles for governments. These statements necessarily include some amounts that are based on our best estimates and professional judgments. We encourage readers to refer to the Management’s Discussion and Analysis section of the report for a more complete overview and analysis of the City’s financial activities. Because the City receives federal grants, it is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1984 and the Office of Management and Budget Circular A-133, Audits of State and Local Governments and Non-Profit Organizations. Information related to the single audit, including the Schedule of Federal Financial Assistance and the auditors' reports on the internal controls and compliance of the applicable laws and regulations are included in the single audit section of this report. CITY OF MISSOULA PROFILE The City was originally incorporated in 1883 and re-incorporated in 1889. It operates under the Mayor-Council form of government and provides a wide range of municipal services including police, fire, recreation, public works improvements and general administration services. Wastewater treatment services are accounted for in an enterprise fund. Private firms provide garbage, water, electric and gas services. The Missoula Parking Commission and Missoula Redevelopment Agency are included in this report as component units. Component units are legally separate entities for which the primary government is financially accountable. All retirement plans are handled by state agencies. Planning, Library and the Health Department are joint City/County agencies that are administered by Missoula County so they are included in the County's annual report, with only the City's contribution to these entities appearing in these statements. The Missoula Housing Authority does not meet the criteria for inclusion in this report. The City of Missoula maintains budgetary controls, the object of which is to ensure compliance with the legal provisions embodied in the annual budget adopted by the City Council each summer. Budgets are legally required and prepared for all of the City's funds. The legal level of budgetary control is established at the fund level. ECONOMIC CONDITION AND OUTLOOK The Bureau of Business and Economic Research (BBER) is the research and public service branch of the University of Montana’s School of Business Administration. The Bureau is regularly involved in a wide variety of activities, including economic analysis and forecasting. Excerpts from the Bureau’s updated forecasts contained in the fall of 2008 relating to Missoula and Missoula County are restated below. As the result of the recent severe financial problems at the national level, the Bureau of Business and Economic Research (BBER) has revised its economic forecasts from this past Spring. A University of Montana economist, Patrick Barkey, has scaled back his forecast of the state’s economic performance for 2008 and 2009 – from 4 percent annual growth to 3.3 percent. ---PAGE BREAK--- Page IS-2 The state-level employment and personal income data are encouraging, he said. Montana’s year-over-year payroll employment growth of 1.3 percent over the last 12 months was better than all but four of the 50 states, Barkey said. Non-farm labor income grew at an annual rate of 4.6 percent during the first quarter of 2008 and 4.5 percent during the second quarter. These figures were down from where they were at this same time last year – 5.7 percent to 6.5 percent, respectively, which is consistent with the modest slowing BBER is predicting. Other news on the state’s important industries is more mixed. The era of robust growth in construction ended in Montana in mid-2007, and employment trends are now stable, which is better than the rest of the country where steep declines are the norm, Barkey said. A more severe than expected U.S. recession is always a risk to BBER’s forecast for the Montana economy, Barkey said. The impacts of the last two recessions (in 2001-02 and 1990-91) have been milder in Montana than the national average. Missoula is the second largest trade and service center in the state and the dominant trade center in Western Montana. Like Billings, the Missoula retail industry is being challenged by the opening of “big box” and other specialized retailers in smaller communities. But Missoula’s trade center-service industries (such as health care and business and professional services) continue to grow and expand. Newly released data from the Missoula Organization of Realtors show the 2008 Missoula median home price was $206,450, just behind Gallatin County. Over this past year a number of major projects were either initiated or completed. These included: MAJOR INITIATIVES • Over the Fall of 2007, the City started extending the sewer from North Grove Street (near River Road) south to the intersection with Third Street and then west on Third Street to the intersection of Tower with Third. This project will also assist the extension of Mountain Water west along Third Street, thus enabling many subdivision projects to get started in the western part of Missoula. • The City’s Parks and Recreation Department worked in cooperation with the competitive swim community to build a 50 meter pool at Playfair Park to replace the old 50 meter pool at McCormick Park, which was removed in the fall of 2006. This pool successfully opened in the spring of 2008. • The City began construction on a new Fire Station in FY06 in Southwest Missoula to accommodate the growth of the City in this area. This station was approved for construction in a voter approved General Obligation bond issue in the Fall of 2005 along with the remodel of two older fire stations. The new fire station was completed and occupied in FY 2007. Construction was begun in the remodeling of fire stations #2 and An additional maintenance bay was also added to fire station #4 in FY 2007. • $5,358,915 of street improvements was completed in FY 2008. • Quoted below are excerpts from the Standard & Poor's April 2008 rating upgrade. Standard & Poor’s Ratings Services assigned its ‘AA-’ standard long-term rating, and stable outlook, to all of the City of Missoula's outstanding voted GO debt. The ratings reflect the city’s: The ‘AA-’ rating on Missoula, Mont.’s outstanding voted GO bonds reflects the city’s: • Diverse local economy, which is anchored by the University of Montana and serves as a regional services, health care, and retail hub for the surrounding rural communities; • Expanding property tax and economic bases due to a low cost of living and an educated labor force compared with the rest of the region; • Historically low and stable unemployment levels; and • Low overall debt burden with manageable future capital needs and limited debt issuance. Outlook The stable outlook reflects the expectation of the local economy’s continued diversity and steady economic ---PAGE BREAK--- Page IS-3 growth. The city’s low reserves levels preclude a higher rating at this time. The city’s ability to benefit from new retail development and its current sizable base in the future due to changes in state legislation could lead to rating improvement if additional revenue flexibility allows the city to build reserves levels. • The City’s high ratings are an objective indication of sound financial management, recognition that its overall debt profile is characterized by good debt service coverage from pledged revenues and by sound legal provisions ensuring full and timely payment of its debt service obligations. Overall net debt is very low at $906 per capita, or 1.9% of estimated true property value. • The City also recently received an improved credit rating from Standard & Poors for its financial management assessment (FMA) which resulted in an FMA of “strong”, the highest rating a City can receive from Standard & Poors, the city’s credit rating agency. The city’s credit rating is an integral component in financing infrastructure projects. • Standard & Poors has this to say about the City’s “strong” FMA assessment:”A Financial Management Assessment of 'strong' indicates that practices are strong, well embedded, and likely sustainable. The government maintains most ‘best practices’ deemed critical to supporting credit quality and these are well embedded in the government's daily operations and practices. Formal policies support many of these activities, adding to the likelihood that these practices will be continued into the future and transcend changes in the operating environment or personnel.” • Standard & Poor's has established an analytical methodology that evaluates established and ongoing management practices and policies in the seven areas most likely to affect credit quality. These areas are: o Revenue and expenditure assumptions o Budget amendments and updates o Long term financial planning o Long term capital planning o Investment management policies o Debt management policies o Reserve and liquidity policies • The City of Missoula was evaluated as having superior policies and practices in all of the areas above. For the Future • The City Police Department is preparing to request voter referendum approval to support the construction of a new 30,000 square foot public safety facility. This expansion is needed to accommodate public safety needs as the city continues to grow. • The first phase of redevelopment of the downtown mill site along the Clark Fork River was initiated with the issuance of $3.6 million of tax increment bonds in Urban Renewal District II in FY 08. This project will move into the second phase of development in FY 09. • The groundwork was put in place to accomplish the move of Safeway from its present location to the old city maintenance shop site, freeing up the current location for the expansion of the campus of St. Patrick Hospital. This will be accomplished in the fall of 2008 with Safeway slated to open its new store in Mid- December of 2008. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Missoula for its comprehensive annual financial AWARDS ---PAGE BREAK--- Page IS-4 report (CAFR) for the fiscal year ended June 30, 2007. This was the eleventh consecutive year that the City of Missoula has received this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe our current comprehensive annual financial report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA for consideration. The City of Missoula is in stable financial condition in spite of limitations placed on the growth of property tax revenues. The 1997 state legislature passed Senate Bill 195, which restricts increases in taxable valuation due to increasing property values. Only new construction or newly annexed areas can significantly increase taxable valuation. This area of property taxation was addressed again by the 1999 Legislature, which made numerous changes to the way in which property is valued and taxed in Montana. The Legislature did provide for some replacement revenue for property tax revenue sources that were reduced. In addition, local governments were given the ability to levy the additional mills necessary to generate the same revenue as in the previous year. Careful budgeting and control of expenditures by departments have continued to pay off for the City. The City has annexed contiguous areas in recent years that are of an urban nature. These annexations have expanded the tax base and to some degree expanded costs. Sewer service is being extended to cover more of the developed area with the intent of protecting our aquifer. The City has been prudent in the use of year-end cash balances, but the restriction on property tax levy increases has been challenging. CONCLUSION I want to express my sincere appreciation to Beckie Christiaens, Assistant Finance Director/Controller, and the Finance Office staff for their excellent work and support in preparing this report. Respectfully submitted, ACKNOWLEDGEMENTS Brentt Ramharter Finance Director ---PAGE BREAK--- Page IS-5 ---PAGE BREAK--- Page IS-6 CITY OF MISSOULA ---PAGE BREAK--- Page IS-7 ELECTED OFFICIALS MAYOR, John Engen MUNICIPAL COURT JUDGE, Donald J, Louden ALDERPERSONS FIRST WARD ALDERPERSONS SECOND WARD TERM EXPIRES FIRST MONDAY IN: TERM EXPIRES FIRST MONDAY IN: Dave Strohmaier 2010 John Hendrickson 2010 Jason Wiener 2012 Pam Walzer 2012 ALDERPERSONS THIRD WARD ALDERPERSONS FOURTH WARD TERM EXPIRES FIRST MONDAY IN: TERM EXPIRES FIRST MONDAY IN: Bob Jaffe 2010 Lyn Hellegaard 2012 Stacy Rye 2012 John Wilkins 2010 ALDERPERSONS FIFTH WARD ADMINISTRATIVE OFFICIALS Bruce Bender, CHIEF ADMINISTRATIVE OFFICER Tom Steenberg, FIRE CHIEF James P. Nugent, CITY ATTORNEY Mark Muir, POLICE CHIEF Brentt Ramharter, FINANCE DIRECTOR/TREASURER Ellen Buchanan, DIRECTOR, MISSOULA REDEVELOPMENT AGENCY, Martha L. Rehbein, CITY CLERK Gail Verlanic, DIRECTOR, HUMAN RESOURCES /EEO OFFICER Carl Horton, DIRECTOR, INFORMATION TECHNOLOGIES Steve King, DIRECTOR, PUBLIC WORKS Kevin Slovarp, CITY ENGINEER Brian Hensel, SUPERINTENDENT, STREET DIVISION Don Verue, BUILDING OFFICIAL, BUILDING DIVISION Starr Sullivan, SUPERINTENDENT, WASTE WATER TREATMENT DIVISION Jack Stucky, SUPERINTENDENT, VEHILCE MAINTENANCE DIVISION Donna Gaulker, DIRECTOR, PARKS & RECREATION Doug Waters, DIRECTOR, MISSOULA CEMETERY Roger Millar, DIRECTOR, OFFICE OF PLANNING & GRANTS Anne Guest, DIRECTOR, MISSOULA PARKING COMMISSION Ellen Leahy, DIRECTOR, CITY/ COUNTY HEALTH DEPARTMENT Honor Bray, DIRECTOR, CITY/COUNTY LIBRARY ALDERPERSONS SIXTH WARD TERM EXPIRES FIRST MONDAY IN: TERM EXPIRES FIRST MONDAY IN: Dick Haines 2010 Ed Childers 2012 Rene Mitchell 2012 Marilyn Marler 2010 ---PAGE BREAK--- ---PAGE BREAK--- FINANCIAL FINANCIAL SECTION SECTION ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- MANAGEMENT DISCUSSION MANAGEMENT DISCUSSION AND ANALYSIS AND ANALYSIS ---PAGE BREAK--- ---PAGE BREAK--- Page FS-3 Management’s Discussion and Analysis The City of Missoula (the City) offers the readers of the City’s financial statements this narrative overview and analysis of the City’s financial activities for the fiscal year ended June 30, 2008. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal and the financial statements, which begin on pages IS-1 and FS-10 of this report, respectively. Certain comparative information between the current year and the prior year is also presented. Financial Highlights • The assets of the City of Missoula exceeded its liabilities at the close of the most recent fiscal year by $ 194,478,871 (net assets). Of this amount, $ 33,541,758 (unrestricted net assets) may be used to meet the government’s ongoing obligations to citizens and creditors. • As of the close of the current fiscal year, the City’s total governmental funds reported combined ending fund balances of $ 6,114,858. The special revenue funds had an unreserved fund balance of $3,208,509, which is available for spending at the government’s discretion (unreserved fund balance), while $3,175,573 of fund balance for debt service funds is restricted for debt payments. • At the end of the current fiscal year, the total fund balance of the General Fund was $1,202,073 which represented three percent of total General Fund expenditures. The unreserved portion of the fund balance was $643,449. The General Fund year-end balance for FY 2008 decreased to $1.2 million from $2.1 million at the end of FY 2007. The City Council budgeted the fund balance to increase by $83,500 for FY 2009, which would place the FY 2009 year end fund balance at approximately $1.3 million. The decrease in fund balance in FY 08 was due to a decline in expected expenditure savings and slight increase in tax delinquencies. Please note that the city had a 15 year history of always having between 3% - 5% expenditure savings. The FY 08 expenditure savings were less than The City has addressed this issue by requiring a mandatory 3.7% holdback on expenditures for FY 09 and is preparing to eliminate any anticipation of expenditure savings in the FY 2010 budget. The City is prepared to rebuild its fund balance over the next two years to the level it had at the end of FY 2007 ($2.1 Million). Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the City of Missoula’s basic financial statements. The City’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. Other supplementary information in addition to the basic financial statements is included at the end of the financial section. Government-wide Financial Statements. The government-wide financial statements are designed to provide readers with a broad overview of the City of Missoula’s finances, in a manner similar to a private- sector business. The Statement of Net Assets presents information on all of the City of Missoula’s assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the City of Missoula is improving or deteriorating. The Statement of Activities presents information showing how the government’s net assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods uncollected taxes and earned but unused vacation leave). ---PAGE BREAK--- Page FS-4 Both of the government-wide financial statements distinguish functions of the City of Missoula that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business- type activities). The governmental activities of the City include general government, streets, public health, culture and recreation, social and economic services, housing and community development and public safety. The business-type activities of the City include a sewer utility. The government-wide financial statements include not only the City of Missoula itself (known as the primary government), but also a legally separate redevelopment authority (Missoula Redevelopment Authority) and a legally separate parking commission (Missoula Parking Commission) for which the City is financially accountable. Financial information for these component units is reported separately from the financial information presented for the primary government. Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City of Missoula, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City of Missoula can be divided into three categories: governmental funds, proprietary funds and fiduciary funds. Governmental Funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the Governmental Fund Balance Sheet and the Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The City of Missoula maintains one hundred individual governmental funds. Information is presented separately in the Governmental Fund Balance Sheet and in the Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the General Fund and the one debt service fund, all of which are considered to be major funds. Data from the other ninety seven governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining schedules elsewhere in this report. The City of Missoula adopts an annual appropriated budget for its General Fund. A budgetary comparison schedule has been provided for the General Fund to demonstrate compliance with this budget. The General Fund is the only major fund required to present budget information in this report. The City of Missoula maintains budgetary control at the fund level. Budget to actual schedules are provided under the supplemental section. Proprietary Funds. The City of Missoula maintains two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for its sewer utility. Internal service funds are an accounting device used to accumulate and allocate costs internally among the City of Missoula’s various functions. The City of Missoula uses an internal service fund to account for the health benefit plan. Because this service predominantly benefits governmental rather than business-type functions, it has been included within governmental activities in the government-wide financial statements. ---PAGE BREAK--- Page FS-5 Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the sewer utility and for the health benefit plan, the sewer utility is considered to be a major fund of the City of Missoula Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statement because the resources of those funds are not available to support the City of Missoula’s own programs. The accounting for fiduciary funds is much like that used for proprietary funds. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 25-58 of this report. Other information. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information. Required supplementary information can be found beginning on page FS-54 of this report. The combining statements referred to earlier in connection with nonmajor governmental funds and internal service funds are presented immediately after the required supplementary information. Government-wide Financial Analysis As noted earlier, net assets may serve over time as a useful indicator of a government’s financial position. In the case of the City of Missoula, assets exceeded liabilities by $ 184,478,871 at the close of the most recent fiscal year. By far the largest portion of the City of Missoula’s net assets (88 percent) reflects its investment in capital assets land, buildings, machinery, and equipment); less any related debt used to acquire those assets that are still outstanding. The City of Missoula uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City of Missoula’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. ---PAGE BREAK--- Page FS-6 CITY OF MISSOULA’S NET ASSETS 2008 2007 2008 2007 2008 2006 Current & Other Assets $ 27,624,475 $ 26,044,400 $ 2,906,626 $ 5,728,562 $ 30,531,101 $ 31,772,962 Non-Current Capital Assets 134,430,495 143,215,043 91,190,473 74,245,025 225,620,968 217,460,068 Total Assets 162,054,970 169,259,443 94,097,099 79,973,587 256,152,069 249,233,030 Long-term Liabilities Current Liabilities 7,526,212 7,220,431 1,905,407 1,319,465 9,431,619 8,539,896 Non-Other Liabilities 37,350,293 38,115,140 14,891,287 15,921,698 52,241,580 54,036,838 Total Liabilities 44,876,505 45,335,571 16,796,694 17,241,163 61,673,199 62,576,734 Net Assets: Invested in capital assets, net of related debt 95,716,983 103,905,986 60,741,529 55,807,246 156,458,512 159,713,232 Restricted 3,175,573 3,007,558 1,303,028 1,320,306 4,478,601 4,327,864 Unrestricted 18,285,910 17,010,328 15,255,848 5,604,872 33,541,758 22,615,200 Total Net Assets $ 117,178,466 $ 123,923,872 $ 77,300,405 $ 62,732,424 $ 194,478,871 $ 186,656,296 Governmental Activities Business-type Activities Total An additional portion of the City of Missoula’s net assets (two percent) represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net assets ($33,541,758) may be used to meet the government’s ongoing obligations to citizens and creditors. At the end of the current fiscal year, the City of Missoula is able to report positive balances in all three categories of net assets, both for the government as a whole, as well as for its separate governmental and business-type activities. Readers are encouraged to refer to the information provided in the Notes to the Financial Statements for more detailed information on the assets and long-term debt activity for the year. Governmental activities: Governmental activity net assets decreased by $6,745,406 during the current fiscal year, mainly due to the transfer of the newly constructed aquatic's facilities to a new proprietary fund, a spend down of capital project funds and increased operating expenses for the city's General Fund departments. For the most part, the increase in operating expenses was due to increased fuel, utility and energy costs which were paid by the city directly and indirectly as the increased transportation expenses were added onto the costs of most goods purchased by the city. Business-type activities: The business-type activity net assets increased by $14,567,983 due to the substantial construction completed on the new aquatic's facilities ($13,227,557 in new net assets for the new swimming and wading pools) financed primarily by a voted GO bond. New construction also occurred at the City’s sewer plant as it is being enlarged and upgraded. Developer contributions continued as a major revenue source for the Sewer Fund during the current fiscal year, producing $703,955 in revenue. This increase is the direct result of increasing the City’s sewer development charge from $350 to $1,450 per equivalent dwelling unit five years ago. These development fees, which are set significantly in excess of actual connection costs, must be used only for capital purposes. ---PAGE BREAK--- Page FS-7 CITY OF MISSOULA’S CHANGES IN NET ASSETS Financial Analysis of the Government’s Funds As noted earlier, the City of Missoula uses fund accounting to ensure and demonstrate compliance with finance- related legal requirements. Governmental funds. The focus of the City of Missoula’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City of Missoula’s financing requirements. In particular, unreserved fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year, the City’s governmental funds reported combined ending fund balances of $6,114,858, a decrease of $1,001,656 in comparison with the prior year. The majority of this decrease was in the General Fund, (discussed on the next page). 2008 2007 2008 2007 2008 2006 Revenues: Program revenues: Charges for services $ 9,915,006 $ 9,165,743 $ 7,635,175 $ 6,510,110 $ 17,550,181 $ 15,675,853 Operating grants & contributions 1,264,937 1,789,208 - - 1,264,937 1,789,208 Capital grants & contributions 7,572,822 7,785,160 1,414,448 848 8,987,270 7,786,008 General revenues: Property taxes for general purposes 23,662,238 21,003,491 - - 23,662,238 21,003,491 Annexations & developer contributions - - - 1,207,664 - 1,207,664 Intergovernmental revenue 11,370,796 10,078,402 - 11,370,796 10,078,402 Investment earnings 652,572 695,655 168,312 330,545 820,885 1,026,200 Miscellaneous 1,383,397 959,284 3,378 2,337 1,386,775 961,621 Gain or loss on sale of capital assets 1,980,388 (54,070) 5,778 9,860 1,986,166 (44,210) Special Items (13,409,208) - 13,409,207 - - - Interfund Transactions (64,798) 233,065 64,798 (233,065) - - Total revenues 44,328,150 51,655,938 22,701,096 7,828,299 67,029,248 59,484,237 Primary Government: Expenses: General Government 7,164,932 7,947,585 - - 7,164,932 7,947,585 Public Safety 22,864,926 20,685,934 - - 22,864,926 20,685,934 Public Works 11,992,483 3,102,523 6,716,237 6,239,307 18,708,720 9,341,830 Public Health 1,382,490 1,275,114 - - 1,382,490 1,275,114 Social and Economic Services 115,000 165,849 - - 115,000 165,849 Culture and Recreation 3,580,622 4,687,707 1,412,133 - 4,992,755 4,687,707 Housing & Development 2,189,207 1,416,594 - - 2,189,207 1,416,594 Conservation of Natural Resources - 296,617 - - - 296,617 Miscellaneous - - - - - - Interest Expense 1,665,936 1,675,186 - - 1,665,936 1,675,186 Total Expenses 50,955,596 41,253,109 8,128,370 6,239,307 59,083,966 47,492,416 Change in net assets (6,627,446) 10,402,829 14,572,726 1,588,992 7,945,281 11,991,821 Restatements (117,960) 457,617 (4,745) 303,702 (122,705) 761,319 Ending Net Assets $ 117,178,466 $ 123,923,872 $ 77,300,406 $ 62,732,424 $ 194,478,872 $ 186,656,296 Governmental Activities Business-type Activities Total ---PAGE BREAK--- Page FS-8 The capital construction funds had a year-end fund balance of ($1,471,297), which reflects the fact that certain construction projects will not be fully reimbursed until all final financing is accomplished for the various projects and put in place. The special revenue funds had an unreserved fund balance of $3,208,509, which is available for spending at the government’s discretion (unreserved fund balance) while $3,175,573 of debt service fund balance is reserved for debt payments. The General Fund is the chief operating fund of the City of Missoula. At the end of the current fiscal year, the total fund balance of the General fund was $1,202,073 which represented three percent of total General Fund expenditures. The unreserved portion of the fund balance was $643,449. As a measure of the General Fund’s liquidity, it may be useful to compare the unreserved fund balance to total fund expenditures. At the end of fiscal year 2007 the unreserved fund balance represented 1.65% percent of total General Fund expenditures. The fund balance of the City’s General Fund decreased by $922,586 during the current fiscal year, mainly due to a decline in expected expenditure savings, a temporary reduction in inventories and a slight increase in tax delinquencies. Please note that the city had a 15 year history of always having between 3% - 5% expenditure savings. The FY 08 expenditure savings were less than The City has addressed this issue by requiring a mandatory 3.7% holdback on expenditures for FY 09 and is preparing to eliminate any anticipation of expenditure savings in the FY 2010 budget. The City is prepared to rebuild its fund balance over the next two years to the level it had at the end of FY 2007 ($2.1 Million). A decline in General Fund inventories of $200,982 also contributed to the reduction in General Fund year-end fund balance. These inventories are being rebuilt as we speak back to historical levels, so this factor will self-correct by the end of FY 2009. Proprietary funds. The City of Missoula’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. Unrestricted net assets of the Sewer Fund at the end of the year amounted to $2,028,291 a reduction of $3,576,580 due to capital expenditures associated with a significant expansion of sewer trunk lines west of Reserve Street. Other factors concerning the finances of this fund have already been addressed in the discussion of the City of Missoula’s business-type activities. General Fund Budgetary Highlights Differences between the original budget and the final amended budget amounted to an increase in budgeted appropriations of $481,823, mainly due to the need to amend the budget for unexpected expenses incurred in fighting forest fires in the Missoula area that were reimbursed at a later date by the federal government; additional police overtime paid for reimbursable services rendered to other agencies; and an unanticipated payment received for services provided by police to the public school system for school resource officers. Significant revenue differences between the final amended budget and actual results were due to a decrease in current tax collections ($443,027), a decrease in expected engineering excavation permits ($164,327), a decline in fees for services ($295,649), and significant reduction in expected fines and forfeits ($306,596) due to staffing shortages in the Police department. On the expenditure side the positive differences between the final budget and actual results were significant in the area of general government, public works, and culture and recreation. Much of this was due to vacancy savings and unspent department budgets. The Police budget was overspent due to significant payoffs made to many long-time veteran employees that retired late in the fiscal year along with a significant rise in fuel costs that was addressed in the FY 2009 budget. ---PAGE BREAK--- Page FS-9 Capital Asset and Debt Administration Capital assets. The City of Missoula’s investment in capital assets for its governmental and business type activities as of June 30, 2008, amounts to $223,995,513 (net of accumulated depreciation). This investment in capital assets includes land, buildings and system improvements, machinery and equipment, park facilities, streets, sidewalks, utilities and storm drain systems. More detailed disclosure on the City's capital assets is available in section III-E of the Notes to the Financial Statements. Major capital asset events during the current fiscal year included the following: • A total of $8,036,045 of new construction was completed on additional infrastructure, buildings and equipment that included the completion of the new aquatic facilities, which were then transferred ($13,288,952) to a new proprietary fund established to account for the aquatics activities. $5,358,915 of the $8,036,045 of new construction noted above of street and bicycle/pedestrian improvements were completed in FY 2008, mainly for streets in new subdivisions throughout the city. • $5,258,813 of new sewer mains was placed into work in progress pending the completion of the new West Reserve sewer line extension project. CITY OF MISSOULA’S CAPITAL ASSETS 2008 2007 2008 2007 2008 2007 Land $ 19,342,529 $ 19,342,529 $ 1,333,614 $ 1,333,614 $ 20,676,143 $ 20,676,143 Art 181,500 240,729 65,229 - 246,729 - Buildings and Improvements 27,880,251 39,886,553 108,514,872 94,301,620 136,395,123 134,188,173 Machinery and Equipment 19,549,916 18,510,792 5,890,560 5,413,478 25,440,476 23,924,270 Infrastructure 192,996,714 187,637,799 - - 192,996,714 187,637,799 Construction in Progress 4,874,918 3,303,888 5,270,130 463,213 10,145,048 3,767,101 Total Capital Assets 264,825,828 268,922,290 121,074,405 101,511,925 385,900,233 370,434,215 Less Accumulated Depreciation (130,395,332) (125,707,249) (31,509,264) (28,912,206) (161,904,596) (154,619,455) Net Capital Assets $ 134,430,495 $ 143,215,041 $ 89,565,141 $ 72,599,719 $ 223,995,636 $ 215,814,760 Governmental Activities Business-type Activities Total Long-term debt. At the end of the current fiscal year, the City of Missoula had a total of $58,109,304 of long term debt outstanding of which $54,531,744 was bonded debt. Of this amount, $17,500,000 comprises debt backed by the full faith and credit of the government and $15,510,165 is special assessment debt for which the government is liable in the event of default by the property owners subject to the assessment, although this debt is collateralized with liens on the properties against which the debt is assessed. The majority of the remainder of the City of Missoula’s bonded debt represents bonds secured solely by specified revenue sources revenue bonds). More detailed disclosure on the City's long-term debt is available in section III-F of the Notes to the Financial Statements. ---PAGE BREAK--- Page FS-10 CITY OF MISSOULA’S OUTSTANDING DEBT 2008 2007 2008 2007 2008 2007 General Obligation Bonds $ 17,500,000 $ 18,720,000 $ - $ - $ 17,500,000 $ 18,720,000 Tax Anticipation Note - - - - - - Limited Obligation Bonds 5,360,000 4,760,000 - - 5,360,000 4,760,000 Revenue Bonds - - 15,818,231 16,797,231 15,818,231 16,797,231 Spec. Assessment Bonds 15,510,165 15,455,681 - - 15,510,165 15,455,681 Sidewalk & Curb Warrants 120,923 120,923 - - 120,923 120,923 State Board of Investment Loans 222,425 252,453 - - 222,425 252,453 Compensated Absences 3,442,644 3,271,481 134,916 123,967 3,577,560 3,395,448 Total Outstanding Debt $ 42,156,157 $ 42,580,538 $ 15,953,147 $ 16,921,198 $ 58,109,304 $ 59,501,737 Governmental Activities Business-type Activities Total The City of Missoula’s total debt decreased by $1,392,433 (2.3 percent) during the 2008 fiscal year. The key factor in this decrease was the fact that the city paid off more debt than it incurred from new bond issues. The city issued $840,000 of new limited obligation General Fund debt to assist in the construction of a new 50 meter pool at one of the city's new aquatic facilities. The city also issued $1,538,354 of new special assessment debt for the construction of new curbs and sidewalks. State statutes limit the amount of general obligation debt a governmental entity may issue to 2.5 percent of its total assessed valuation. The current debt limitation for the City of Missoula is $85,307,839 which is significantly in excess of the City of Missoula’s outstanding general obligation debt. Section III-F of the Notes to the City's financial statements provides additional disclosure of the City of Missoula's bonded indebtedness. Economic Factors and New Year’s Budgets and Rates • A University of Montana economist, Patrick Barkey, has scaled back his forecast of the state’s economic performance for 2008 and 2009 – from 4 percent annual growth to 3.3 percent. • The state-level employment and personal income data are encouraging, he said. Montana’s year-over-year payroll employment growth of 1.3 percent over the last 12 months was better than all but four of the 50 states, Barkey said. Non-farm labor income grew at an annual rate of 4.6 percent during the first quarter of 2008 and 4.5 percent during the second quarter. These figures were down from where they were at this same time last year – 5.7 percent to 6.5 percent, respectively, which is consistent with the modest slowing BBER is predicting. Other news on the state’s important industries is more mixed. The era of robust growth in construction ended in Montana in mid-2007, and employment trends are now stable, which is better than the rest of the country where steep declines are the norm, Barkey said. • A more severe than expected U.S. recession is always a risk to BBER’s forecast for the Montana economy, Barkey said. The impacts of the last two recessions (in 2001-02 and 1990-91) have been milder in Montana than the national average All of these factors were considered in preparing the City of Missoula’s budget for the 2009 fiscal year. “Fee for service” revenues were increased in fiscal year 2008 and for 2009 due to the completion of a cost of service analysis contracted from four years ago. The 2009 fiscal year budget was developed with the intention of adjusting future fees for services by the increased costs of delivering those services to the public. ---PAGE BREAK--- Page FS-11 The sewer utility rates were not increased for the 2008 budget year. Due to superior plant performance at the recently upgraded and enlarged wastewater treatment facility, operating costs have not increased to the extent expected as the plant was enlarged. It is expected that sewer fees will be increased modestly for the FY 2010 budget year to accommodate an upgrade of the wastewater plant headworks. In addition, the City's growth in sewer connections has been approximately double the rate of growth of the City's population, thus providing ample revenue for the sewer fund. Requests for Information This financial report is designed to provide a general overview of the City of Missoula’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Office of the Finance Director, 435 Ryman, City of Missoula, Missoula, Montana, 59802. ---PAGE BREAK--- ---PAGE BREAK--- BASIC FINANCIAL BASIC FINANCIAL STATEMENTS STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- GOVERNMENT GOVERNMENT-WIDE WIDE FINANCIAL STATEMENTS FINANCIAL STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- Page FS-12 City of Missoula, Montana Statement of Net Assets Primary Government Business Business Missoula Missoula Governmental Type Improvement Parking Redevelopment Activities Activities Total District Commission Agency ASSETS Current Assets Cash and investments $ 9,950,761 $ 210,068 $ 10,160,829 $ 345,261 $ 3,640,493 $ 3,656,769 Taxes/Assessments receivable, net 2,327,091 - 2,327,091 16,724 - 131,344 Internal balances (2,084,753) 2,084,752 - - - - Deferred assessments receivable 14,200,215 - 14,200,215 - - - Accounts receivable 1,428,055 375,571 1,803,626 6,250 - - Long term loans receivable - - - - - - Other receivable 77,295 15,525 92,820 - 56,042 261 Interest receivable 105,080 16,459 121,539 - - - Prepaid expenditures / expenses 257,112 15,410 272,522 - - 4,020 Due from other governments 804,995 720 805,715 2,024 - 135,157 Inventory of supplies 558,624 188,120 746,744 - - - Total Current Assets 27,624,475 2,906,626 30,531,101 370,259 3,696,535 3,927,551 Noncurrent Assets Cash and investments - 1,617,326 1,617,326 - 150,000 250,500 Bond issuance costs, net - 8,007 8,007 - 10,979 - Other assets - - - - 6,770 - Capital assets - depreciable, net 110,031,549 82,896,168 192,927,717 - 2,470,207 - Capital assets - land and construction in progress 24,398,946 6,668,973 31,067,919 - 2,397,866 - Total Noncurrent Assets 134,430,495 91,190,474 225,620,969 - 5,035,822 250,500 Total Assets 162,054,970 94,097,099 256,152,070 370,259 8,732,357 4,178,051 LIABILITIES Current Liabilities Accounts payable 1,846,083 772,562 2,618,645 148,318 39,529 348,448 Accrued expenditures / expenses 554,742 55,461 610,203 2,638 19,511 16,186 Deferred revenue 319,523 15,525 335,048 15,030 - - Compensated absences payable 1,779,205 44,859 1,824,064 - 25,549 40,320 Special assessment debt with government obligation 1,479,871 - 1,479,871 - - - Long-term liabilities - due within one year 1,546,788 1,017,000 2,563,788 - 110,000 85,000 Total Current Liabilities 7,526,212 1,905,407 9,431,619 165,986 194,589 489,954 Noncurrent Liabilities Long-term portion of compensated absences 1,663,439 90,057 1,753,496 - 13,140 12,725 Special assessment debt with government obligation - long-term 14,030,294 - 14,030,294 - - - Long-term liabilities - due in more than one year 21,656,560 14,801,231 36,457,791 - 950,000 5,955,000 Total Noncurrent Liabilities 37,350,293 14,891,287 52,241,580 - 963,140 5,967,725 Total Liabilities 44,876,505 16,796,694 61,673,199 165,986 1,157,729 6,457,679 NET ASSETS Invested in capital assets, net of related debt 95,716,983 60,741,529 156,458,512 - 3,808,073 - Restricted for debt service 3,175,573 1,303,028 4,478,601 - 150,000 250,500 Unrestricted 18,285,910 15,255,848 33,541,758 204,273 3,616,555 (2,530,128) Total Net Assets $ 117,178,466 $ 77,300,406 $ 194,478,871 $ 204,273 $ 7,574,628 $ (2,279,628) See accompanying Notes to the Financial Statements June 30, 2008 Component Units ---PAGE BREAK--- City of Missoula, Montana Statement of Activities For the Fiscal Year Ended June 30, 2008 Net (Expenses) Revenues and Changes in Net Assets Program Revenues Primary Government Component Units Operating Capital Business- Business Missoula Missoula Charges for Grants and Grants and Governmental type Improvement Parking Redevelopment Functions/Programs Expenses Services Contributions Contributions Activities Activities Total District Commission Agency Primary Government: Governmental activities: General government $ 7,164,932 $ 3,960,870 $ - $ 2,447,887 $ (756,175) $ - $ (756,175) $ - $ - $ - Public safety 22,864,926 1,864,023 468,161 289,251 (20,243,491) - (20,243,491) - - - Public works 11,992,483 2,180,372 18,350 4,785,684 (5,008,077) - (5,008,077) - - - Public health 1,382,490 (1,382,490) - (1,382,490) - - - Social and economic services 115,000 21,140 (93,860) - (93,860) - - - Culture and recreation 3,580,622 1,519,854 15,840 50,000 (1,994,928) - (1,994,928) - - - Housing and community development 2,189,207 367,359 762,586 - (1,059,262) - (1,059,262) - - - Conservation of natural resources - 1,388 - 1,388 - 1,388 - - - Debt service interest expense 1,665,936 - - - (1,665,936) - (1,665,936) - - - Total Governmental Activities 50,955,596 9,915,006 1,264,937 7,572,822 (32,202,831) - (32,202,831) - - - Business-type activities: Sewer 6,716,237 6,707,510 - 1,414,047 - 1,405,321 1,405,321 - - - Aquatics 1,412,133 927,665 401 - (484,067) (484,067) - - - Total Business-Type Activities 8,128,370 7,635,175 - 1,414,448 - 921,254 921,254 - - - Total Primary Government $ 59,083,966 $ 17,550,181 $ 1,264,937 $ 8,987,270 (32,202,831) 921,254 (31,281,577) $ - $ - $ - Component Units: Business Improvement District $ 694,510 $ $ - $ - $ (694,510) $ - $ - Missoula Parking Commission 1,272,342 1,429,972 - - - 157,630 - Missoula Redevelopment Agency 3,068,041 - - - - - (3,068,041) Total Component Units $ 5,034,893 $ 1,429,972 $ - $ - (694,510) 157,630 (3,068,041) General Revenues Property taxes for general purposes 23,662,238 - 23,662,238 251,682 - 1,351,472 Intergovernmental revenue, unrestricted 11,370,796 - 11,370,796 338,950 - Miscellaneous 1,383,397 3,378 1,386,775 2,027 - 284,656 Interest income 652,572 168,312 820,885 10,898 166,009 178,071 Sewer fund support of governmental activities (64,798) 64,798 - - - - Gain on sale of capital assets 1,980,387 5,778 1,986,165 - - - Special items (13,409,207) 13,409,207 - - - - Total general revenues, special items and transfers 25,575,385 13,651,473 39,226,858 603,557 166,009 1,814,199 Change in Net Assets (6,627,446) 14,572,726 7,945,280 (90,953) 323,639 (1,253,842) Net Assets - July 1, 2007 123,923,872 62,732,424 186,656,296 292,892 7,250,989 (1,076,910) Restatements (117,960) (4,745) (122,705) 2,334 - 51,124 Net Assets - July 1, 2007 - Restated 123,805,912 62,727,679 186,533,591 295,226 7,250,989 (1,025,786) Net Assets - June 30, 2008 $ 117,178,466 $ 77,300,406 $ 194,478,871 $ 204,273 $ 7,574,628 $ (2,279,628) See accompanying Notes to the Financial Statements Page FS-13 ---PAGE BREAK--- FUND FUND FINANCIAL FINANCIAL STATEMENTS STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- Page FS-14 MAJOR GOVERNMENTAL FUNDS FUND DESCRIPTIONS GENERAL FUND The General Fund accounts for revenues and expenditures for most of the major City functions which are not specifically earmarked for other purposes. These functions include City Council, Finance and Administration, Police, Fire, Public Works (excluding Sewer), Parks and Recreation, and the Cemetery. CAPITAL IMPROVEMENT PROGRAM This fund is a five year planning program designed to guide decisions concerning capital expenditures. The first year of the plan is the current year’s capital budget. This fund accounts for the City’s major capital projects except those that are funded within special funds such as Sewer R&D, the Missoula Redevelopment Agency, or Community Development Block Grants. SID 524 DEBT SERVICE FUND This fund provides for debt service for liabilities incurred to pay the construction costs for special improvement district 524 (South Hills Storm Drain and other infrastructure improvements). MAJOR PROPRIETARY FUNDS FUND DESCRIPTIONS SEWER FUND This fund accounts for financial resources from service charges, allocated by law, contractual agreement, or administrative regulations for, and the payment of, sewer maintenance, sewer construction, and other sewer related costs. AQUATICS FUND This fund accounts for financial resources from service charged to provide quality aquatics programs, opportunities and facilities for citizens of all ages, interests, and abilities thus giving every resident as well as guests an opportunity for lifetime leisure skills, water safety skills and active, healthy life styles. ---PAGE BREAK--- ---PAGE BREAK--- GOVERNMENTAL FUND GOVERNMENTAL FUND FINANCIAL FINANCIAL STATEMENTS STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- Capital Other Total General Improvement Governmental Governmental Fund Program SID 524 Funds Funds ASSETS Current Assets Cash and investments $ 584,858 $ - $ - $ 6,921,796 $ 7,506,654 Taxes/Assessments receivable, net 1,679,756 - 9,257 638,078 2,327,091 Deferred assessments receivable - - 3,025,838 11,174,377 14,200,215 Due from other governments 287,102 - 987 516,906 804,995 Accounts receivable 302,447 231,143 - 894,465 1,428,055 Interest receivable 79,050 (7,559) 2,172 21,094 94,757 Prepaid expenditures 250,412 - - 6,700 257,112 Interfund receivable - - 516,273 2,215,816 2,732,089 Inventory of supplies 558,624 - - - 558,624 Total Assets $ 3,742,249 $ 223,584 $ 3,554,527 $ 22,389,232 $ 29,909,592 LIABILITIES Current Liabilities Accounts payable $ 698,435 $ 302,332 $ 141 $ 614,845 $ 1,615,753 Accrued expenditures 538,856 - - 15,886 554,742 Deferred revenue 1,302,885 121,363 3,033,370 12,349,779 16,807,397 Interfund payable - 2,747,465 - 2,069,377 4,816,842 Total Liabilities 2,540,176 3,171,160 3,033,511 15,049,887 23,794,734 FUND BALANCES Reserved for inventories 558,624 - - - 558,624 Reserved for debt service - - 521,016 2,654,557 3,175,573 Unreserved reported in general fund 643,449 - - - 643,449 Unreserved reported in special revenue funds - - - 3,208,509 3,208,509 Unreserved reported in capital projects funds - (2,947,576) - 1,476,279 (1,471,297) Total Fund Balance 1,202,073 (2,947,576) 521,016 7,339,345 6,114,858 Total Liabilities and Fund Balance $ 3,742,249 $ 223,584 $ 3,554,527 $ 22,389,232 $ 29,909,592 See accompanying Notes to the Financial Statements City of Missoula, Montana Balance Sheet Governmental Funds June 30, 2008 Page FS-15 ---PAGE BREAK--- Page FS-16 Total fund balances - governmental funds $ 6,114,858 Capital assets used in governmental activities are 134,430,495 not financial resources and therefore are not reported as assets in governmental funds. Property taxes receivable will be collected this year, 16,807,397 but are not available soon enough to pay for the current period's expenditures, and therefore are deferred in the funds. An internal service fund is used by management 1,981,873 to charge the costs of employees medical insurance. The governmental portion of the internal service fund are included with governmental activities. Long-term liabilities (current and non-current portions) (42,156,157) are not due and payable in the current period and therefore are not reported as liabilities in the funds. Total net assets - governmental activities $ 117,178,466 See accompanying Notes to the Financial Statements City of Missoula, Montana Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets June 30, 2008 ---PAGE BREAK--- Page FS-17 City of Missoula, Montana Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds For the Fiscal Year Ended June 30, 2008 Capital Other Total Improvement Governmental Governmental General Program SID 524 Funds Funds REVENUES Taxes and assessments $ 17,312,969 $ - $ 395,128 $ 7,363,112 $ 25,071,209 Licenses and permits 1,202,941 - - 2,851,533 4,054,474 Intergovernmental 9,444,310 540,612 - 2,762,218 12,747,140 Charges for services 3,663,064 - - 248,749 3,911,813 Fines and forfeitures 1,172,962 - - 42,993 1,215,955 Miscellaneous 595,858 286,905 - 816,752 1,699,515 Investment earnings 420,695 (38,479) 14,667 187,815 584,698 Total revenues 33,812,799 789,038 409,795 14,273,172 49,284,804 EXPENDITURES Current: General government 6,118,475 28,840 - 368,423 6,515,738 Public safety 20,268,016 - - 1,369,007 21,637,023 Public works 6,274,691 - - 395,686 6,670,377 Public health 1,364,663 - - - 1,364,663 Social and economic services 115,000 - - - 115,000 Culture and recreation 3,054,484 11,692 - 52,262 3,118,438 Housing and community development 1,024,464 - - 1,017,034 2,041,498 Debt service expenditures - 512,247 307,240 3,820,347 4,639,834 Capital outlay 682,858 2,968,554 - 3,924,235 7,575,647 Total expenditures 38,902,651 3,521,333 307,240 10,946,994 53,678,218 Excess (deficiency) of revenues over expenditures (5,089,852) (2,732,295) 102,555 3,326,178 (4,393,414) OTHER FINANCING SOURCES (USES) Transfers in 4,418,956 130,500 - 2,000 4,551,456 Transfers (out) (491,609) - - (4,174,225) (4,665,834) Issuance of long term debt - 840,000 - 1,538,354 2,378,354 Proceeds from sale of capital assets - 839,056 - 1,564 840,620 Total other financing sources (uses) 3,927,347 1,809,556 - (2,632,307) 3,104,596 Net Change in Fund Balance (1,162,505) (922,739) 102,555 693,871 (1,288,818) Fund Balance - July 1, 2007 2,124,659 (2,024,837) 417,391 6,599,301 7,116,514 Cumulative effect of a change in accounting principle 239,919 - 1,070 89,935 330,924 Restatements - - - (43,762) (43,762) Fund Balance - July 1, 2007 Restated 2,364,578 (2,024,837) 418,461 6,645,474 7,403,676 Fund Balance - June 30, 2008 $ 1,202,073 $ (2,947,576) $ 521,016 $ 7,339,345 $ 6,114,858 See accompanying Notes to the Financial Statements ---PAGE BREAK--- Page FS-18 City of Missoula, Montana Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the Fiscal Year Ended June 30, 2008 Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balances - total governmental funds $ (1,288,818) Governmental funds report capital outlays as expenditures 11,032,094 In the statement of activities, the cost of capital assets (6,086,515) is allocated over their estimated useful lives as depreciation expense. In the statement of activities, only the loss on the sale of the (13,693,462) capital assets is reported, whereas in the governmental funds, the proceeds from the sale increase financial resources. Thus the change in net assets differs from the change in fund balance by cost of the assets sold. Revenues in the statement of activities that do not provide 2,491,771 current financial resources are not reported as revenues in the funds. Long-term debt proceeds provide current financial resources to (2,378,354) governmental funds, but issuing debt increases long-term liabilities in the statement of net assets. Repayment of long-term debt principal is an expenditure in the 2,973,898 governmental funds, but the repayment reduces long-term liabilities in the statement of net assets. The change in compensated absences is shown as an addition (171,163) to payroll expense on the statement of activities Internal service funds are used by management to charge the 493,103 costs of certain activities to individual funds. The net revenue (expense) of the internal service funds is reported with the governmental activities. Change in net assets - statement of activities $ (6,627,446) See accompanying Notes to the Financial Statements ---PAGE BREAK--- PROPRIETARY FUND PROPRIETARY FUND FINANCIAL FINANCIAL STATEMENTS STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- Page FS-19 Business-Type Activities Governmental Activities Sewer Aquatics Internal Service (Major) (Non-Major) Total Self Insurance ASSETS Current Assets Cash and investments $ - $ 210,068 $ 210,068 $ 2,444,107 Accounts receivable 375,571 - 375,571 - Interest receivable 15,571 888 16,459 10,323 Other receivable 15,525 - 15,525 77,295 Due from other governments 720 - 720 - Prepaid expenses 14,070 1,340 15,410 - Interfund receivable 2,084,752 - 2,084,752 - Inventory of supplies 70,650 117,470 188,120 - Total Current Assets 2,576,860 329,766 2,906,626 2,531,726 Noncurrent Assets Cash and investments 1,617,326 - 1,617,326 - Art - 65,229 65,229 Land 1,333,614 - 1,333,614 - Construction - work in progress 4,007,271 1,262,859 5,270,130 - Buildings 8,193,650 12,114,771 20,308,421 - Improvements other than buildings 88,206,452 - 88,206,452 - Machinery and equipment 5,890,560 - 5,890,560 - Allowance for depreciation (31,071,786) (437,478) (31,509,264) - Bond Issuance costs, net 8,007 - 8,007 - Total Noncurrent Assets 78,185,093 13,005,381 91,190,474 - Total Assets $ 80,761,952 $ 13,335,147 $ 94,097,099 $ 2,531,726 LIABILITIES Current Liabilities Accounts payable $ 694,402 $ 78,160 $ 772,562 $ 230,330 Accrued expenses 26,031 29,430 55,461 - Contributions paid in advance - - 319,523 Deferred revenue 15,525 - 15,525 - Compensated absences payable 44,859 - 44,859 - Long-term liabilities - due within one year 1,017,000 - 1,017,000 - Total Current Liabilities 1,797,817 107,590 1,905,407 549,853 Noncurrent Liabilities Long-Term portion of compensated absences 90,057 - 90,057 - Long-term liabilities - due in more than one year 14,801,231 - 14,801,231 - Total Noncurrent Liabilities 14,891,287 - 14,891,287 - Total Liabilities 16,689,104 107,590 16,796,694 549,853 NET ASSETS Invested in capital assets, net of related debt 60,741,529 - 60,741,529 - Restricted for debt service 1,303,028 - 1,303,028 - Unrestricted 2,028,291 13,227,557 15,255,848 1,981,873 Total Net Assets 64,072,848 13,227,557 77,300,406 1,981,873 Total Liabilities and Net Assets $ 80,761,952 $ 13,335,147 $ 94,097,099 $ 2,531,726 See accompanying Notes to the Financial Statements City of Missoula, Montana Balance Sheet Proprietary Funds June 30, 2008 ---PAGE BREAK--- Page FS-20 Business-Type Activities - Governmental Major Enterprise Funds Activities Internal Service Sewer Aquatics Self-Insurance (Major) (Non-Major) Total Funds Operating Revenues: Intergovernmental $ 924 $ 401 $ 1,325 $ - Charges for services 6,707,510 927,665 7,635,175 - Miscellaneous 3,378 - 3,378 - Internal services - - - 4,089,331 Total Operating Revenues 6,711,812 928,066 7,639,878 4,089,331 Operating Expenses Personal services 1,298,917 519,375 1,818,292 - Fixed charges 870,603 - 870,603 - Depreciation 2,168,095 403,827 2,571,922 - Insurance claims and expenses - - - 3,724,353 Maintenance and operations 1,735,343 488,931 2,224,274 - Total Operating Expenses 6,072,958 1,412,133 7,485,091 3,724,353 Operating Income 638,855 (484,067) 154,788 364,978 Non-operating revenues (expenses) Gain on sale of capital assets 5,778 - 5,778 - Contributions from property owners 1,413,123 - 1,413,123 - Interest revenue 171,933 (3,621) 168,312 73,056 Debt service interest expense (643,279) - (643,279) - Total non-operating revenues (expenses) 947,555 (3,621) 943,934 73,056 Income (loss) before transfers and special items 1,586,410 (487,688) 1,098,722 438,034 Transfers Transfers in - 306,038 306,038 55,071 Transfers (out) (241,240) - (241,240) - Net Transfers (241,240) 306,038 64,798 55,071 Special Items Contributions from governmental activities - 13,409,207 13,409,207 - Change in Net Assets 1,345,170 13,227,557 14,572,727 493,105 Net Assets - July 1, 2007 62,732,424 - 62,732,424 1,526,303 Restatements (4,745) - (4,745) (37,535) Net Assets - July 1, 2007 - Restated 62,727,679 - 62,727,679 1,488,768 Net Assets - June 30, 2008 $ 64,072,849 $ 13,227,557 $ 77,300,406 $ 1,981,873 See accompanying Notes to the Financial Statements City of Missoula, Montana Statement of Revenues, Expenses, and Changes in Net Assets Proprietary Funds For the Fiscal Year Ended June 30, 2008 ---PAGE BREAK--- Page FS-21 City of Missoula, Montana Statement of Cash Flows Proprietary Fund Types For the Fiscal Year Ended June 30, 2008 Business-Type Activities - Governmental Activities - Major Enterprise Funds Internal Service Funds Sewer Aquatics Total Self-Insurance Cash Flows from Operating Activities: Receipts from customers $ 6,707,100 $ 927,665 $ 7,634,765 $ - Payments to suppliers (2,178,870) (381,341) (2,560,211) - Payments to employees (1,300,874) (520,715) (1,821,589) - Receipts from operating grants - - - - Other receipts 5,287 401 5,688 - Receipts from internal services - - - 4,088,749 Benefit payments - - - (3,677,825) Net Cash Provided by Operating Activities 3,232,643 26,010 3,258,653 410,924 Cash Flows from Non-Capital Financing Activities: Transfers to other funds (241,240) - (241,240) - Transfers from other funds - 188,568 188,568 55,071 Net Cash Provided (Used) by Non-Capital Financing Activities (241,240) 188,568 (52,672) 55,071 Cash Flows from Capital and Related Financing Activities: Proceeds from debt - - - - Principal paid on debt (979,000) - (979,000) - Interest paid on debt (641,678) - (641,678) - Acquisition and construction of capital assets (4,723,322) - (4,723,322) - Net Cash Used by Capital and Related Financing Activities (6,344,000) - (6,344,000) - Cash Flows from Investing Activities Interest on investments 229,238 (4,510) 224,728 83,063 Proceeds from sale of capital assets 14,100 - 14,100 - Receipts from short-term loans to other funds 4,872,598 - 4,872,598 - Disbursements for short-term loans to other funds (2,084,752) - (2,084,752) - Net Cash Provided by Investing Activities 3,031,184 (4,510) 3,026,674 83,063 Net increase (decrease) in cash and cash equivalents (321,413) 210,068 (111,345) 549,058 Cash and cash equivalents at July 1, 2007 1,938,739 - 1,938,739 1,895,050 Cash and cash equivalents at June 30, 2008 $ 1,617,326 $ 210,068 $ 1,827,394 $ 2,444,108 Cash and cash equivalents consists of: Cash and investments $ - $ 210,068 $ 210,068 $ 2,444,108 Restricted cash and investments 1,617,326 - 1,617,326 - Total cash and cash equivalents $ 1,617,326 $ 210,068 $ 1,827,394 $ 2,444,108 Reconciliation of operating income to net cash provided by operating activities: Operating income $ 638,855 $ (484,067) $ 154,788 $ 364,978 Adjustments to reconcile operating income to net cash - provided by operating activities: - Depreciation 2,168,095 403,827 2,571,922 - Changes in assets and liabilities: - Due from other governments 985 985 Other receivables and notes receivable 1,915 1,915 (44,362) Prepaid expense (668) (1,340) (2,008) 33,402 Deferred revenue (2,325) (2,325) - Contributions paid in advance - - (582) Compensated absences payable 10,949 10,949 - Inventories (3,480) - (3,480) - Accounts and other payables 430,556 78,160 508,716 57,488 Accrued expenses (12,238) 29,430 17,192 - Net Cash Provided by Operating Activities $ 3,232,643 $ 26,010 $ 3,258,653 $ 410,924 Disclosure of Non-Cash Items: See accompanying Notes to the Financial Statements The Sewer fund had non-cash transactions that increased capital assets and retained earnings in the amount of $1,411,522, developer contributions of capital assets of $1,413,123, and annual bond issuance cost amortization of $1,601. The Aquatics fund non-cash transactions that increased capital assets and retained earnings in the amount of $13,227,557. This was attributed to a contribution of ---PAGE BREAK--- ---PAGE BREAK--- FIDUCIARY FUND FIDUCIARY FUND FINANCIAL FINANCIAL STATEMENTS STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- Page FS-22 Agency Funds ASSETS Cash and short-term investments $ 330,925 Due from other governments 7,022 Total assets $ 337,947 LIABILITIES Accounts payable $ 24,458 Due to private parties 291,686 Due to other governments 21,804 Total liabilities $ 337,947 See accompanying Notes to the Financial Statements City of Missoula, Montana Fiduciary Funds Statement of Fiduciary Net Assets June 30, 2008 ---PAGE BREAK--- ---PAGE BREAK--- NOTES TO NOTES TO FINANCIAL FINANCIAL STATEMENTS STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-23 I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City follows generally accepted accounting principles (GAAP.) GAAP includes all relevant Governmental Accounting Standards Board (GASB) pronouncements. In the government-wide financial statements and the fund financial statements for the proprietary funds, Financial Accounting Standards Board (FASB) pronouncements and Accounting Principles Board (APB) opinions issued on or before November 30, 1989, have been applied unless those pronouncements conflict with or contradict GASB pronouncements, in which case GASB prevails. For enterprise funds, GASB statement Nos. 20 and 34 provide the City the option of electing to apply FASB pronouncements issued after November 30, 1989. The City has elected not to apply those pronouncements. A. Reporting Entity The City was originally incorporated in 1883 and re-incorporated in 1889. It operates under the Mayor- Council form of government and provides a wide range of municipal services including police, fire, recreation, public works improvements, and general administration services. Sanitary sewer services are accounted for in an enterprise fund. Water, gas, electricity and garbage services are provided by the private sector. All retirement plans are handled by state agencies. (See note Planning, library, animal control and health services are provided jointly by the City and Missoula County. Since these joint services are administered by the County, only the City’s contributions appear in these statements. For financial reporting purposes, the City includes those separate governmental entities that are controlled by or are dependent on the City. The determination to include separate governmental entities is based on the criteria of Governmental Accounting Standards Board (GASB) Statement No. 14, as amended by GASB Statement No. 39. GASB defines the reporting entity as the primary government and those component units for which the primary government is financially accountable. To be financially accountable, a voting majority of the component unit’s governing board must be appointed by the City, and either a) the City must be able to impose its will, or b) the City may potentially benefit financially or be financially responsible for the component unit. Based on these criteria, the City has included the following as discretely presented component units: 1. The Missoula Redevelopment Agency (MRA) was established in 1978 by the City of Missoula (the City) as a separate legal entity in accordance with state urban renewal laws (Section 7-15-4201 MCA). MRA has the authority to renovate property within blighted areas legally designated as redevelopment districts, but the authority to exercise the power of eminent domain, acquire and resell property and to issue tax increment bonds remains with the City. Any bonds issued are payable solely from tax increment receipts. The City has established three urban renewal districts: District I in 1978, District II in 1991 and District III in 2000. The five member governing board is appointed by the Mayor. MRA has no authority to levy taxes. However, under the City’s Urban Renewal Plans, incremental property taxes which result from increases in the taxable value of property within a redevelopment district are designated for urban renewal purposes and provide the primary funding source for MRA. State law provides that the tax increment provisions applicable to a renewal district established prior to 1980 be terminated seventeen years after enactment or when all tax increment bonds have been retired. Because the tax increment provisions for District I were enacted on December 18, 1978, MRA was scheduled to terminate on December 18, 1995. However, the City issued tax increment bonds on December 15, 1989 as permitted by state law. The issuance of these bonds extended the tax increment provisions for the term of the bonds, whose final maturity was July 1, 2005, at which point District I was ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-24 terminated. These bonds were payable solely from the tax increment receipts and were not a debt of the City. On August 18, 2006 the City issued $3,600,000 of new tax increment bonds in the District II. These bonds will mature in varying amounts until 2031. MRA issued $1,500,000 of Tax Increment Urban Renewal Revenue Bonds in October 2007. The bonds were issued to finance all or a portion of the costs of designing, constructing, and carrying out the infrastructure improvements associated with the Safeway, Inc. Project. The URD II bonds were issued at par, bear interest of 6.95%, and are secured by a first lien upon and pledge of tax increment revenues derived from the Project Site. Should tax increment revenues in any given year not be sufficient to pay the principal and interest payments, Safeway, Inc. (the “Guarantor”) is obligated to pay the deficiency. Tax increment in excess of debt service requirements will be used to make Guarantor reimbursements for prior debt service deficiencies, retained in an excess tax increment fund until the amount equals the maximum annual debt service for the bonds, and used to prepay the Series 2007 bonds. Due to the control exercised by the City, MRA is considered a component unit of the City. Complete financial statements may be obtained from the City Clerk, 435 Ryman St., Missoula, MT 59802 or from Missoula Redevelopment Agency, 140 W. Pine, Missoula, MT 59802. 2. The Missoula Parking Commission is a public corporation formed by the City of Missoula, Montana, and, as such, is a proprietary component unit of the City. On January 25, 1971, the City Council of Missoula passed Resolution No. 2992 declaring the need for a parking commission. The creation of a commission was subsequently approved by the voters of the City in April 1971 pursuant to Part 46 of the Montana Code. Voters also authorized the Parking Commission to adopt the revenue bond method of financing parking projects provided in Title 7, Chapter 14, Part 46, Montana Code Annotated. As a component unit of the City, the Missoula Parking Commission is exempt from income tax. The Commission currently operates approximately 1,075 parking meters on various streets and in various lots throughout the downtown business area. The Commission operates approximately 837 leased parking spaces in various lots throughout downtown Missoula. The Commission also oversees a residential parking district in the University area of approximately 820 spaces. It also issues tickets for parking violations in the downtown area and the University residential parking district. The Commission operates two parking structures (Central Park and Bank Street Structure) that offer both short-term and long-term parking. It is considered a component unit because the City appoints the Board members, sets the meter rates, determines the parking district and is secondarily liable for the Parking Commission bonds. The City does not provide any operating subsidies nor does it receive any surpluses, but the Parking Commission does pay the City for services such as legal advice, payroll and bill paying. Complete financial statements may be obtained from the City Clerk, 435 Ryman St., Missoula, MT 59802 or from Missoula Parking Commission, 128 W. Main St., Missoula, MT 59802. 3. The Downtown Business Improvement District (BID) was created through the efforts of the Missoula Downtown Association to address the challenges created by the termination of the Downtown Urban Renewal District (URD I) on June 30, 2005. Implementation began in 2001 with committee development, community education, local media campaigns, meetings with property and business owners, creation of a comprehensive database of property owners, and the required petition process. The process of verifying the petition was finalized at the end of 2004 and the BID was approved by the City Council in April 2005. The BID will serve as an advocate for property owners in the district and address areas such as safety, cleanliness, appearance, marketing, business retention and recruitment, public and private investment in buildings and infrastructure. Complete financial statements may be obtained from the City Clerk, 435 Ryman St., Missoula, MT 59802 or from the Business Improvement District, 218 E. Main Street, Suite Missoula, MT 59802. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-25 Related Organizations: The City is also responsible for appointing members of the Missoula Housing Authority Board, but the City’s accountability does not extend beyond making the appointments. Members may be removed only for cause and the City can suggest actions, but not impose them. The City does not have authority to set rents or policies and does not receive any surpluses nor contribute any funds to operations, except to pay city special assessments on Housing Authority property. B. Measurement Focus, Basis of Accounting, and Basis of Presentation Government-wide Statements Basis of Presentation The Government-wide Financial Statements (the Statement of Net Assets and the Statement of Activities) display information about the reporting government as a whole and its component units. They include all funds of the reporting entity except fiduciary funds. The statements distinguish between governmental and business-type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other non-exchange revenues. Business-type activities are financed in whole or in part by fees charged to external parties for goods or services. Eliminations have been made to minimize the double-counting of internal activities. The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the City’s governmental activities. Direct expenses are those that are specifically associated with a program or function. The City does not charge indirect expenses to programs or functions. The types of transactions reported as program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or activity and 2) operating grants and contributions, and 3) capital grants and contributions. Revenues that are not classified as program revenues, including all property taxes, are presented as general revenues. Certain eliminations have been made as prescribed by GASB 34 in regards to inter-fund 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, which are presented as internal balances and eliminated in the total primary government column. In the Statement of Activities, internal service fund transactions have been eliminated; however, those transactions between governmental and business-type activities have not been eliminated. Measurement Focus and Basis of Accounting On the government-wide Statement of Net Assets and the Statement of Activities, both governmental and business-type activities are presented using the economic resources measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred regardless of the timing of the cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. The City generally applies restricted resources to expenses incurred before using unrestricted resources when both restricted and unrestricted net assets are available. Fund Financial Statements Basis of Presentation Fund financial statements of the reporting entity are organized into funds, each of which is considered to be separate accounting entities. Each fund is accounted for by providing a separate set of self-balancing accounts. Fund accounting segregates funds according to their intended purpose and is used to aid ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-26 management in demonstrating compliance with finance-related legal and contractual provisions. The minimum number of funds is maintained consistent with legal and managerial requirements. Funds are organized into three categories: governmental, proprietary, and fiduciary. An emphasis is placed on major funds within the governmental and proprietary categories. Each major fund is displayed in a separate column in the fund financial statements. All of the remaining funds are aggregated and reported in a single column as non-major funds. A fund is considered major if it is the primary operating fund of the City or meets the following criteria: a. Total assets, liabilities, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 10 percent of the corresponding total for all funds of that category or type; and b. Total assets, liabilities, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 5 percent of the corresponding total for all governmental and enterprise funds combined. Governmental Funds: Measurement Focus and Basis of Accounting These statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual when they are measurable and available). Measurable means the amount of the transaction can be determined and available means collectible within the current period or soon enough thereafter to pay liabilities of the current period. The City considers all revenues available if they are collected within 60 days after year-end. Expenditures are recorded when the related fund liability is incurred, except for unmatured interest on general long-term debt which is recognized when due, and certain compensated absences and claims and judgments which are recognized when the obligations are expected to be liquidated with expendable available financial resources. General capital asset acquisitions are reported as expenditures in governmental funds and proceeds of general long-term debt and acquisitions under capital leases are reported as other financing sources. Real and personal property taxes (excluding motor vehicle taxes), special assessments, charges for current services, and interest earnings are susceptible to accrual. Other receipts and taxes become measurable and available when cash is received by the City and are recognized as revenue at that time. The City recorded real and personal property taxes and assessments levied for the current year as revenue. Taxes and assessments receivable remaining unpaid at year-end and not expected to be collected soon enough thereafter to be available to pay obligations of the current year were recorded as deferred revenue, with a corresponding reduction in revenues, as required by generally accepted accounting principles. In addition, prior period delinquent taxes and assessments collected in the current period were recorded as revenue in the current period as required by generally accepted accounting principles. Entitlements and shared revenues are recorded at the time of receipt or earlier if the susceptible to accrual criteria are met. Expenditure driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other grant requirements have been met. Under the terms of the City’s grant agreements, certain programs are funded by specific cost-reimbursement grants and general revenues. Generally, the City applies cost-reimbursement funds first to finance such programs with remaining costs paid for with general revenues. The City reports the following major governmental funds: General Fund - This is the City of Missoula’s primary operating fund and it accounts for all financial ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-27 resources of the City except those required to be accounted for in other funds. Capital Improvement Program – This fund is a five year planning program designed to guide decisions concerning capital expenditures. The first year of the plan is the current year’s capital budget. This fund accounts for the City’s major capital projects except those that are funded within special funds such as Sewer R&D, the Missoula Redevelopment Agency, or Community Development Block Grants. SID 524 Debt Service Fund – This fund accounts for assessment collections and the payment of SID debt for the South Hills Storm Drain and other infrastructure improvements. Proprietary Funds: Measurement Focus and Basis of Accounting All proprietary funds are accounted for using the accrual basis of accounting. These funds account for operations that are primarily financed by user charges. The economic resource focus concerns determining costs as a means of maintaining capital investment and management control. Revenues are recognized when earned and expenses are recognized when incurred. Allocations of costs, such as depreciation, are recorded in the proprietary funds. The receivables and revenue from assessments are reported as accounts receivable and user charges, respectively. Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues for the enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds 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. The City reports the following proprietary funds: Sewer Fund (Major Fund) – This fund accounts for financial resources from service charges, allocated by law, contractual agreement, or administrative regulations for, and the payment of, sewer maintenance, sewer construction, and other sewer related costs. Aquatics Fund (Non Major Fund) – This fund accounts for financial resources from service charged to provide quality aquatics programs, opportunities and facilities for citizens of all ages, interests, and abilities thus giving every resident as well as guests an opportunity for lifetime leisure skills, water safety skills and active, healthy life styles. Fiduciary Funds: Measurement Focus and Basis of Accounting Fiduciary funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations or other governments. Agency funds are custodial in nature (assets equals liabilities) and do not involve measurement of results of operations. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-28 The City reports the following fiduciary funds and the related purposes: Court Surcharge – Accommodates the court surcharge fees charged and owed to the State of Montana County Clearing – Accounts for the dog license fees that are collected on behalf of the County. Sewer Rebate – Accounts for the sewer rebates authorized by City Council for sewer connections. Youth Programs – Records the transactions held for County Youth Programs. County Park Board – Records the transactions held for the County Park Board. Elk Hills Subdivision – Records the transactions held for the Elk Hills Subdivision. Residential Inspection – Accounts for transactions related to the Voluntary Residential Inspection program. Municipal Court Restitution – Accumulates restitution payments to victims from court proceedings. C. Budgets and Budgetary Accounting 1. Budget Process Operating budgets are adopted each year for the General Fund, all Special Revenue Funds, Debt Service Funds, Enterprise Funds, Internal Service Fund and Capital Project Funds. All budgets are presented on the budgetary basis appropriate for the fund type consistent with generally accepted accounting principles (i.e. all governmental funds are budgeted on a modified accrual basis and all proprietary funds are budgeted on the accrual basis). A preliminary budget is presented in June, budget hearings are held, and the final budget is adopted by the second Monday in August. Budget appropriations may be transferred between line items or increased by budget amendment only upon adoption of a resolution by the governing body. The operating fund budgets cannot be increased except by a public hearing for the following reasons: a public emergency which could not have been reasonably foreseen at the time of adoption of the original budget; debt service funds for obligations related to debt approved by the governing body; trust funds for obligations authorized by trust covenants; any fund for federal, state, local, or private grants and shared revenue accepted and approved by the governing body; any fund for special assessments approved by the governing body; the proceeds from the sale of land; any fund for gifts or donations; and money borrowed during the fiscal year. The annual appropriations and transfers out for various departments are controlled and monitored for budgetary compliance at the fund level. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-29 Original Amended Difference General Fund 40,152,978 $ 40,634,801 $ 481,823 $ Special Revenue Funds 15,307,373 14,510,905 (796,468) Debt Service Funds 4,395,671 4,680,541 284,870 Capital Funds 4,876,204 10,264,117 5,387,913 Sewer Funds 31,444,094 31,419,794 (24,300) Aquatics 1,123,820 1,123,820 - Totals 96,176,320 $ 101,510,158 $ 5,333,838 $ Original Amended Difference General Fund 39,171,799 $ 39,637,986 $ 466,187 $ Special Revenue Funds 14,103,544 12,922,017 (1,181,527) Debt Service Funds 4,109,579 4,224,479 114,900 Capital Funds 1,467,093 6,091,593 4,624,500 Sewer Funds 24,516,429 24,516,429 - Aquatics Fund 1,123,820 1,123,820 - Totals 83,368,444 $ 87,392,504 $ 4,024,060 $ FY08 Expenditure Budget FY08 Revenue Budget D. Assets, Liabilities, and Equity 1. Cash, Cash Equivalents, and Investments Cash and investments are under the management of the City’s Treasurer and consist primarily of investments in U.S. Government agency obligations. Interest income earned as a result of pooling of City deposits is distributed to the appropriate funds utilizing a formula based on the average balance of cash and investments of each fund. Montana State statutes authorize the City to invest in interest-bearing savings accounts, certificates of deposits, and time deposits insured up to $100,000 by the Federal Deposit Insurance Corporation or fully collateralized, U.S. government and U.S. agency obligations, STIP and repurchase agreements where there is a master repurchase agreement and collateral held by a third party. In October 2008, the FDIC raised the insurance limit to $250,000 effective through December 31, 2009. The investment program of the City is divided into two tiers, an operational portfolio and a core portfolio. The operational portfolio is invested in short-term securities and is designed to handle the day to day cash needs of the City. The core portfolio is composed of securities with longer maturities with the objective of obtaining an optimal return for the City over a longer investment horizon. For purposes of the statement of cash flows, the enterprise and internal services funds consider all funds (including restricted assets) held in the City’s cash management pool to be cash equivalents. For the proprietary component unit, the commission considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Negative cash balances are required to be reported as interfund payables. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-30 2. Receivables Transactions between funds that are representative of lending/borrowing arrangements outstanding at fiscal year end, are short term loans and are reported as “due to/from other funds.” Tax and special assessment receivables are recorded in the appropriate funds. Property tax levies are set in August at the time the City budget is approved and are billed November 1 by the County. Taxes are due 50% by November 30 and 50% by May 31 of each year. After those dates, they become delinquent (and a lien is placed upon the property). After three years the County can exercise the lien and take title to the property. Properties taken on tax deeds are recorded at the lower of the taxes receivable or market value and included in the governmental activities column of the statement of net assets at the County until sold. Special assessments are billed November 1 of each year as a component of the County property tax billing. The first part (50%) is due November 30th and the second part (50%) is due May 31st. After those dates, the bills are delinquent (and a lien is placed on the property). Lighting, park maintenance and street maintenance assessments are determined by the estimated cost of operating these districts for the next year. The other special improvement districts (SID’s) are billed for a portion of the principal owed plus interest on the unpaid balance. Each SID also has deferred assessments to account for the unbilled portion of the principal. Sewer fees are billed in July and January. They are due the last day of the month in which they are billed. A small number of commercial accounts are billed quarterly. Accounts that are delinquent as of June 30th are turned over to the County Treasurer to be included on the property tax bills sent out November 1. No allowance for uncollectibles is made because unpaid bills on these receivables become liens against the properties and it is assumed that the proceeds from the sale of any tax deed property will meet or exceed the lien amount. 3. Inventories Inventories of materials and supplies are accounted for using the consumption approach for governmental and enterprise funds. That is, inventory purchases are considered an asset until the period in which they are actually consumed. Inventories are carried at the lower of cost (first-in, first-out) or market. 4. Warrants Payable The City pays its claims by issuing a check. The only warrants appearing in the City’s accounts this fiscal year are Sidewalk and Curb interest bearing warrants. 5. Capital Assets Capital assets purchased are recorded as expenditures in the governmental funds. All purchased capital assets are valued at cost when historical records are available and at an estimated historical cost when no historical records exist. Donated capital assets (including infrastructure acquired through developer’s contributions and annexations) are recorded at their estimated fair value at the date of donation. The City capitalizes all capital assets with a value of $5,000 or greater. Property, plant, and equipment in the proprietary funds of the government are recorded at cost. Property, plant, and equipment donated to these proprietary fund type operations are recorded at their estimated fair value at the date of donation. Public domain ("infrastructure") capital assets (e.g. roads, bridges, curbs and gutters, and other assets that are immovable and of value only to the government) are capitalized and depreciated on the straight-line method. Useful lives of infrastructure assets are from 20 to 75 years. Pavement has an estimated useful life of 20 years; curbs and sidewalks 50 years; storm sewers 75 years; sumps 30 years; signs 60 years; bridges and pedestrian crossings 50 years; and street lights 50 years. Major outlays for capital assets and improvements are capitalized in proprietary funds as projects are constructed. Interest incurred during the construction phase of proprietary fund capital assets is reflected in ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-31 the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period. Capital assets purchased or acquired by proprietary fund types are recorded in the individual fund making the purchase. Any capital assets donated specifically for an enterprise fund are also recorded in that individual fund. Depreciation on proprietary fund capital assets is provided over their estimated useful lives on the straight-line method. Buildings, major land improvements and pipelines have an estimated useful life of 50 years; pumping stations and equipment 25 years; leasehold improvements and other equipment 5 to 30 years. Useful lives of the proprietary component unit assets are from 5 to 40 years. 6. Deferred Revenues Deferred revenue results when asset recognition criteria have been met and when revenue recognition criteria have not been met. These pertain to the net uncollected property tax and other receivables and are classified as Deferred Revenues on the Balance Sheet of governmental funds. 7. Compensated Absences It is the City’s policy and state law to permit employees to accumulate a limited amount of earned but unused vacation benefits, which will be paid to employees upon separation from City service. Employees are allowed to accumulate and carry over a maximum of two times their annual accumulation of vacation. There is no restriction on the amount of sick leave that may be accumulated. Upon separation, employees are paid 100 percent of accumulated vacation and 25 percent of accumulated sick leave. The liability associated with governmental fund-type employees is reported in the governmental activities column of the statement of net assets, while the liability associated with proprietary fund-type employees is recorded in the respective fund and the business-type activities column of the statement of net assets. 8. Long-Term Obligations The City reports long-term debt of governmental funds at face value in the governmental activities column of the statement of net assets. Certain other governmental fund obligations not expected to be financed with current available financial resources are also reported in the governmental activities column in the statement of net assets. Long-term debt and other obligations financed by proprietary funds are reported as liabilities in the appropriate funds and the business-type activities column of the statement of net assets. For governmental fund types, bond premiums and discounts, as well as issuance costs are recognized during the current period. Bond proceeds are reported as other financing sources net of the applicable premium or discount. Issuance costs, even if withheld from the actual net proceeds received, are reported as debt service expenditures. For proprietary fund types, bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. 9. Fund Equity Reservations of fund balance represent amounts that are not appropriable or are legally segregated for a specific purpose. Reservations of retained earnings are limited to outside third-party restrictions. Designations of fund balance represent tentative management plans that are subject to change. 10. Interfund Transactions Interfund transactions consisting of identified services performed for other funds or costs billed to other funds are treated as expenditures in the fund receiving the services and as revenue in the fund performing the services. Transactions which constitute reimbursements of a fund for expenditures or expenses initially made from it which are properly applicable to another fund are recorded as expenditures in the reimbursing fund and as ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-32 reductions of expenditures in the fund that is reimbursed. 11. Estimates Used in Financial Statement Preparation 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. II. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY A. Deficit Fund Balances Eight special revenue funds with deficit fund balances were identified as of June 30, 2008. The Employee Health Insurance Levy fund ($405,686), the Street Maintenance fund ($8,421), the Russell Park Maintenance fund ($2,897), the Willowwood Park Maintenance fund ($1,977), the Crime Victim Surcharge fund ($5,200), the Community Development fund ($8,857), the Law Enforcement Grant fund ($977), and the Federal Transportation fund ($19,811) all carried deficit fund balances which will be covered by future assessments and grant revenue in fiscal year 2009. Five general obligation bond fund balances were identified as having negative fund balances as of June 30, 2008. All of these deficits will be covered by tax revenues collections in the next fiscal year. These funds are 1998 Safety Bond Fund ($6,499), 2004 Aquatics Bonds Fund ($97,368), the 2004 Refunding Bond Fund ($67,523), the 2006 Fire Station GO Fund ($175,915), and the 2007 Refunding Bond Fund ($149,473). Two Sidewalk and Curb bond funds had negative fund balances at the end of the fiscal year. These fund deficits will be covered by assessments collected in future fiscal years. These funds are the 99 Sidewalk and Curb fund ($78) and the 03 Sidewalk and Curb fund ($27,439) One SID sinking fund, SID 515 ($14,698), had a deficit fund balance at June 30, 2008. This deficit will decrease as assessments are collected. Any deficit remaining after assessments are collected will be covered by the Revolving Fund. The following SID Construction funds have deficit fund balances. SID 530 $ (128) SID 538 $ (4,890) SID 533 (16,477) SID 539 (19,954) SID 534 (1,705) SID 541 (111,696) SID 535 (65,861) SID 542 (128,777) SID 536 (5,345) SID 543 (70,710) SID 531 (43,159) These deficits will be covered by SID bond proceeds as bonds are issued for these projects. The capital projects 08 Sidewalk and Curb Fund ($2,923) and 09 Sidewalk and Curb Fund ($296,820) had deficit balances which will be mitigated in FY 2009. The Capital Improvement fund reported a negative fund balance ($2,947,576) due to upcoming internal financing activities. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-33 B. Expenditures in Excess of Appropriations The following funds had an excess of actual expenditures/expenses over budget, at the level of budgetary control (fund level), for the year ended June 30, 2008: Special Revenue Cable TV Franchise Fund $5,683 Street Maintenance 29,247 Debt Service 98 Safety Bonds 300 99 Sidewalk & Curb 300 00 Sidewalk & Curb 175 01 Sidewalk & Curb 300 02 Sidewalk & Curb 300 03 Sidewalk & Curb 500 04 Sidewalk & Curb 250 05 Sidewalk & Curb 250 07 Sidewalk & Curb 583 08 Sidewalk & Curb 650 SID 512 300 SID 519 876 SID 532 249 SID 540 299 Construction Funds 07 Sidewalk & Curb 28,645 09 Sidewalk & Curb 29,327 SID 538 4,847 SID 542 25,572 Miller Creek Mitigation 146,316 Miller Construction Funds 4,100 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-34 III. DETAILED NOTES ON ALL THE PRIMARY GOVERNMENT’S FUNDS A. Cash and Cash Equivalents At June 30, 2008, cash and investments consisted of the following: Primary Government Component Units Total Petty Cash and Cash on Hand 5,721 $ 1,239 $ 6,960 $ Repurchase Agreements 966,776 612,821 1,579,597 Demand Deposits 1,029,550 459,903 1,489,453 Certificates of Deposit 306,020 193,980 500,000 Marketable Government Securities 10,145,229 6,430,864 16,576,093 Total 12,453,296 $ 7,698,807 $ 20,152,103 $ At June 30, 2008, the carrying amount of the City’s deposits in local banks was $2,420,110 and the bank balances were $2,004,955. Of the bank balance, $729,243 was covered by federal depository insurance and the balance of $1,275,712 was covered by collateral held by the pledging bank’s agent in the City’s name. The City’s cash and investments are reported as follows: Unrestricted Restricted Total Governmental Activities $9,950,761 $ - $9,950,761 Business-Type Activities 210,068 1,617,326 1,827,394 Fiduciary Funds 330,925 - 330,925 Component Units 7,642,523 400,500 8,043,023 Total $18,134,277 $2,017,826 $20,152,103 Custodial credit risk for deposits is the risk that in the event of a financial institution failure, the City’s deposits may not be returned or the City will not be able to recover the collateral securities in the possession of the outside party. The City minimizes custodial credit risk by restrictions set forth in City policy and state law. The City’s policy requires deposits to be 102 percent secured by collateral valued at market value. The City Treasurer maintains a listing of financial institutions, which are approved for investment purposes. Types of securities that may be pledged as collateral are detailed in Section 17-6-103 of the Montana Code Annotated (MCA). City policy requires that specific safeguards against risk of loss be evidenced when the City does not physically hold the securities. The City of Missoula’s investment policy states that the City will minimize the risk that the market value of securities in the portfolio will fall due to changes in general interest rates, by structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity. Further investments are structured varying maturity dates on Certificates of Deposits and limiting long-term investments. The following table provides information about the interest rate risks associated with the City’s deposits and investments. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-35 Investment Maturities Credit Risk Rating Fair Value U.S. Government Agency Obligations 7/2005-4/2011 AAA 16,576,093 $ Certificates of Deposits 11/2005-11/2010 NA 500,000 Demand deposits NA NA 1,489,453 Repurchase Agreements NA NA 1,579,597 Petty Cash and Cash on Hand NA NA 6,960 Total 20,152,103 $ Credit risk is defined as the risk that an issuer or other counterpart to an investments will not fulfill its obligation. The above credit risk rating indicates the probability that the issuer may default in making timely principal and interest payments. The credit ratings presented are provided by Standard and Poor’s Corporation B. Receivables Other Receivables A summary of the City’s accounts receivable and other receivables as of June 30, 2008, follows: Proprietary Funds: Sewer (major fund) – Sewer Fees $ 375,571 Sewer (major fund) – Lease receivable 15,525 Internal Service – Prescription Rebates 77,295 Total Proprietary Funds $ 468,391 Governmental Funds: General (major fund) – Various Licenses, Services and Fees $ 47,734 General (major fund) – Mountain Water Notes 224,178 General (major fund) – Sidewalk & Curb 30,535 Cremain Wall – Cemetery Fees 1,564 Impact Fee – Impact Fees 2,524 Cable TV Franchise – Franchise Fees 132,076 Building Inspection – Permit Fees 3,986 Program Income – Sewer Rebate 1,500 Program Income – Mountain Water Notes 5,162 SID Revolving Fund – Mountain Water Notes 181,233 SID 540 Debt Service – Assessment payment 2,162 Capital Improvement – Swim Missoula Contribution 230,465 Capital Improvement – Miller Creek Transportation Mitigation Study 551,358 Capital Improvement – Miscellaneous reimbursement 678 Total Government Funds $ 1,415,155 Long Term Loans Receivable A summary of the City’s long-term loans receivable as of June 30, 2008, follows: Primary Government: Title One - Extended Family Services $ 12,900 $18,000 at 0% interest to be repaid in installments of $600 per year, with final payment due by 2021; $9,000 at $346.15 per year, with final payment due by 2021. $9,000 was forgiven April 1996. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-36 C. Due From/To Other Funds, Due to Other Governments, and Due to Private Parties Due From/To Other Funds: Primary Government: Negative cash balances are required to be reported as interfund loans. Material checks that are on the bank reconciliation but are held until after the balance sheet date should be reclassified as accounts payable. Loans are recorded as Due From in the lending fund and as a Due To in the loanee fund. The principal purpose of the interfund transfers is to provide funds for cash deficits. ^indicates a major fund (Interfund (Interfund Receivable) Payable) Due From Due To ^ SID 524 $ 516,273 $ - Nonmajor governmental funds 2,215,816 - ^ Capital Improvement Program - 2,747,465 Nonmajor governmental funds - 2,069,377 ^ Sewer 2,084,752 - $ 4,816,842 $ 4,816,842 Due From Other Governments: Primary Government General Fund Due from Missoula County – Taxes Receivable $ 113,898 Due from Missoula County – Public Works Projects 1,195 Due from Missoula County – Parks and Recreation maintenance 7,705 Due from Montana Department of Transportation – Public Works Projects 16,756 Due from Montana Department of Transportation – Pedestrian Safety Grant 6,346 Due from Montana Department of Transportation – Safe Routes to Schools 20,487 Due from City Municipal Court 120,715 Total General Fund 287,102 Special Revenue Funds: Due from Missoula County – Taxes Receivable 1,057 Due from City Municipal Court – Drug Forfeiture 792 Due from City Municipal Court – Crime Victim Surcharge 7,402 Due from Montana Department of Transportation – CMAQ/CTEP grants 129,138 Due from State of Montana – Underage Drinking Grant 9,791 Due from State of Montana – Seatbelt Overtime Grant 5,893 Due from State of Montana – DRE Training Grant 1,940 Due from State of Montana – Grant 43,909 Due from Federal Government – HOME Grant 198,715 Due from Federal Government – JAG Police Grant 46,715 Due from Federal Government – Bulletproof Vest Program 5,106 Due from Federal Government – HIDTA Task Force grant 15,726 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-37 Due from Federal Government – EPA Brownfields grant 4,298 Due from Federal Government – CDBG Grant 32,308 Total Special Revenue Funds 502,790 Debt Service Funds Major fund – Due from Missoula County – Taxes Receivable 987 Non-major funds – Due from Missoula County – Taxes Receivable 14,116 Total Debt Service Funds 15,103 Total, Due From Other Governments, Governmental Funds $ 804,995 Proprietary Funds Due from Missoula County – Delinquent Sewer Collections $ 720 Agency Funds Due from City Municipal Court – Court Surcharge 7,022 Total Agency Funds $ 7,022 Due to Other Governments: Agency Funds Supreme Court $ 15,993 County Park Board 5,500 County Clearing 311 Total Due to Other Governments $ 21,804 Due to Private Parties: Agency Funds Sewer Rebates $ 53,456 Youth Programs 473 Municipal Court Restitution 232,332 Residential Inspection 1,557 Elk Hills Subdivision 3,868 Total Due to Private Parties $ 291,686 D. Bond Issuance Costs The following bond costs are being amortized over the life of the bonds: Primary Government, Sewer Revenue Bond Costs (Major Fund) $ 8,007 Component Unit, Parking Commission Revenue Bond Costs 10,979 Total Deferred Expense, Reporting Entity $ 18,986 E. Capital Assets 1. Arterial/collector streets The City has identified three types of street infrastructure: 2. Commercial streets 3. Residential streets Estimating construction costs ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-38 Arterial/Collector & Commercial & Residential Streets- The City estimated costs for these streets using a bid from the 39th street project for 2002/2003 (used for all projects prior to FY2007) and from the England Boulevard bid on 9/18/2006 for FY2007 and future projects. 1. Arterial/collector - 40% of estimated construction costs Estimating overhead 2. Commercial - 25% of estimated construction costs 3. Residential - 25% of estimated construction costs Total estimates per square yard The total estimated construction and overhead costs per square yard of street are shown below for fiscal year 2008: Construction Overhead Total Arterial/Collector $41/Sq Yard $16.40/Sq Yard $57.40/Sq Yard Commercial $38/Sq Yard $9.50/Sq Yard $47.50/Sq Yard Residential $26/Sq Yard $6.50/Sq Yard $32.50/Sq Yard Beginning Prior Period Ending Balance Adjustment Additions Deletions Balance Governmental Activities: Capital Assets not being Depreciated: Art 240,729 $ - $ 6,000 $ (65,229) $ 181,500 $ Land 19,342,529 - - - 19,342,529 Work-In-Progress 3,303,889 5,000 2,990,048 (1,424,020) 4,874,917 Total Capital Assets not being Depreciated 22,887,147 5,000 2,996,048 (1,489,249) 24,398,946 Capital Assets being Depreciated: Buildings 39,886,553 - 1,282,650 (13,288,952) 27,880,251 Infrastructure 187,637,799 - 5,358,915 - 192,996,714 Machinery & Equipment 18,510,792 - 1,394,480 (355,356) 19,549,916 Total Capital Assets being Depreciated 246,035,144 - 8,036,045 (13,644,308) 240,426,881 Less Accumulated Depreciation for: Buildings (10,396,882) 100 (779,729) 1,098,073 (10,078,438) Infrastructure (104,642,458) - (4,099,099) - (108,741,557) Machinery & Equipment (10,667,909) (41,763) (1,207,687) 342,022 (11,575,337) Total Accumulated Depreciation (125,707,249) (41,663) (6,086,515) 1,440,095 (130,395,332) Total Capital Assets being Depreciated, Net 120,327,895 (41,663) 1,949,530 (12,204,213) 110,031,549 Capital Assets, Net 143,215,042 $ (36,663) $ 4,945,578 $ (13,693,462) $ 134,430,496 $ Depreciation Depreciation is calculated on a straight-line basis with a full month convention for all governmental assets except infrastructure. Capital Asset activity for the fiscal year ended June 30, 2008, is summarized as follows: ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-39 Depreciation expense was charged to functions as follows: Governmental Activities: General Government $ 300,206 Public Safety 735,632 Public Works 4,398,666 Public Health 17,826 Culture and Recreation 486,474 Housing & Community Development 147,709 Beginning Prior Period Ending Balance Adjustment Additions Deletions Balance Business-type Activities: Capital Assets not being Depreciated: Art - $ - $ 65,229 $ - $ 65,229 $ Land 1,333,614 - - - 1,333,614 Work In Process 463,213 - 5,258,813 (451,896) 5,270,130 Total Capital Assets not being Depreciated 1,796,827 - 5,324,042 (451,896) 6,668,973 Capital Assets being Depreciated: Buildings 7,873,330 - 12,435,091 - 20,308,421 Improvements 86,428,290 - 1,778,162 - 88,206,452 Machinery & Equipment 5,413,478 - 493,904 (16,822) 5,890,560 Total Capital Assets being Depreciated 99,715,098 - 14,707,157 (16,822) 114,405,433 Less Accumulated Depreciation for: Buildings (3,369,030) - (630,741) - (3,999,771) Improvements (21,308,555) - (1,786,673) - (23,095,228) Machinery & Equipment (4,229,861) (4,745) (188,159) 8,500 (4,414,265) Total Accumulated Depreciation (28,907,446) (4,745) (2,605,573) 8,500 (31,509,264) Total Capital Assests being Depreciated, Net 70,807,652 (4,745) 12,101,584 (8,322) 82,896,168 Capital Assets, Net 72,604,479 $ (4,745) $ 17,425,626 $ (460,218) $ 89,565,141 $ Total Governmental Activities Depreciation Expense $ 6,086,514 The following is a summary of business-type capital assets for the year ended June 30, 2008: Depreciation is calculated on a straight line basis. Depreciation expense was charged to functions as follows: Business-type activities: Sewer $ 2,201,873 Aquatics 403,826 Total Business-type activities Depreciation Expense $ 2,605,699 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-40 Beginning Ending Balance Additions Deletions Balance Component Unit: Missoula Parking Commission Capital Assets not being Depreciated Parking lots 2,397,866 $ - $ - $ 2,397,866 $ Capital Assets being Depreciated Parking structures 2,256,461 9,173 - 2,265,634 Furniture, fixtures, and computers 54,890 1,147 (9,670) 46,367 Machinery, equipment and vehicles 406,800 79,036 (8,349) 477,487 Parking lot improvements 1,173,437 - (7,461) 1,165,976 Capitalized intererst 409,007 - - 409,007 4,300,595 - - 4,364,471 Less accumulated depreciation (1,618,105) (292,995) 16,836 (1,894,264) Total capital assets being depreciated, net 2,682,490 (292,995) 16,836 2,470,207 Capital assets, net 5,080,356 $ (292,995) $ 16,836 $ 4,868,073 $ F. Long-Term Obligations During the year ended June 30, 2008 the following changes occurred in long-term liabilities reported in the governmental activities, the City’s proprietary funds and component units: Balance Balance Due Within July 1, 2007 Additions Reductions June 30, 2008 One Year Governmental Activities: General Obligation Bonds $18,720,000 $ - $ 1,220,000 $17,500,000 $ 1,265,000 Limited Obligation Bonds 4,760,000 840,000 240,000 5,360,000 230,000 Special Assessment Bonds 15,455,681 1,538,354 1,483,870 15,510,165 1,479,871 Sidewalk and Curb Warrants 120,923 - - 120,923 20,672 Intercap Loans 252,453 - 30,028 222,425 31,116 Compensated Absences 3,271,481 2,101,762 1,930,599 3,442,644 1,779,205 Total Governmental Activities $42,580,538 $ 4,480,116 $ 4,904,497 $42,156,157 $ 4,805,864 Proprietary Funds / Business-type Activities: Revenue Bonds $16,797,231 $ - $ 979,000 $15,818,231 $ 1,017,000 Compensated Absences 123,967 82,367 71,418 134,916 44,859 Total Proprietary Funds $16,921,198 $ 82,367 $ 1,050,418 $15,953,147 $ 1,061,859 Component Units: Revenue Bonds $ 5,665,000 $ 1,625,000 $ 190,000 $ 7,100,000 $ 195,000 Compensated Absences 98,095 56,004 62,364 91,735 Included in Balance June 30, 2008 65,869 Total Component Units $ 5,763,095 $ 1,681,004 $ 252,364 $ 7,191,735 $ 260,869 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-41 Primary Government Compensated Absences For governmental activities, compensated absences are generally liquidated by the general fund. General Obligation Bonds Payable Paid from property tax revenues deposited in Debt Service Funds: Date Date Amount Balance Bonds Issued Matures Rate Issued 2004 Aquatics 2004 Refunding 2005 Fire Station 2007 Refunding June 30, 2008 2004 2004 2006 2007 2024 2013 2026 2018 3.0-4.5% 3.0-3.8% 3.95-4.5% 3.6-4.0% $ 8,100,000 2,705,000 5,740,000 4,355,000 $ 6,875,000 1,320,000 5,350,000 3,955,000 Total GO Bonds $ 20,900,000 $ 17,500,000 Annual debt service requirements to maturity for General Obligation Bonds as of June 30, 2008, were as follows: Fiscal Year Ending June 30 Principal Interest Total 2009 $ 1,265,000 $ 701,223 $ 1,966,223 2010 1,170,000 656,883 1,826,883 2011 1,225,000 614,833 1,839,833 2012 1,270,000 569,748 1,839,748 2013 1,320,000 521,133 1,841,133 2014-2018 5,300,000 1,912,482 7,212,482 2019-2023 4,180,000 960,468 5,140,468 2024-2026 1,770,000 133,969 1,903,969 Total $ 17,500,000 $ 6,070,739 $ 23,570,739 Limited Obligation Bonds Paid from General Fund revenues: Date Date Amount Balance Bonds Issued Matures Rate Issued 2001A Maintenance 2006 Council/MRA Remodel 2006 Aquatics Support 2007B Fire Subsidy 2007C 50 Meter Pool June 30, 2008 2000 2006 2006 2007 2008 2020 2026 2026 2026 2027 4.25-5.20% 4.25-4.55% 3.625-4.0% 3.70-4.20% 3.50-4.40% $ 1,600,000 1,100,000 1,860,000 680,000 840,000 $ 1,180,000 1,025,000 1,700,000 655,000 800,000 Total Limited Obligation Bonds $ 6,080,000 $ 5,360,000 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-42 Annual debt service requirements to maturity for Limited Obligation Bonds as of June 30, 2008, were as follows: Fiscal Year Ending June 30 Principal Interest Total 2009 $ 230,000 $ 226,998 $ 456,998 2010 240,000 217,746 457,746 2011 255,000 208,046 463,046 2012 265,000 197,621 462,621 2013 280,000 186,678 466,678 2014-2018 1,570,000 747,502 2,317,502 2019-2023 1,540,000 391,794 1,931,794 2024-2027 980,000 89,920 1,069,920 Total $ 5,360,000 $ 2,266,305 $ 7,626,305 Revenue Bonds Paid from sewer utility revenues: Date Date Amount Balance Bonds Issued Matures Rate Issued 1992 Sewer, A June 30, 2008 1/23/92 7/1/2013 4.00% $ 1,177,000 $ 386,000 1992 Sewer, B 7/15/92 1/1/2013 4.00% 2,221,000 660,000 1999 Sewer Bonds 2000(B) Sewer Bonds 2001 Sewer Bonds-Bellevue & Reserve 2002 Sewer Bonds-39th St. 2002 Missoula Treatment Plant A 2003 Missoula Treatment Plant B 2003 Missoula Treatment Plant C 2005 Sewer 2006 Sewer Bonds-Lincolnwood Ph. II 6/24/99 10/03/00 4/27/01 5/16/02 11/21/02 10/15/03 3/23/04 11/28/05 9/21/06 7/1/2019 7/1/2020 1/1/2021 1/1/2022 7/1/2022 7/1/2023 7/1/2024 7/1/2025 7/1/2026 4.00% 4.00% 4.00% 4.00% 4.00% 3.75% 3.75% 3.75% 3.75% 1,820,000 718,000 459,162 1,395,000 5,000,000 3,800,000 3,688,000 1,997,000 241,398 1,175,000 497,000 325,000 970,000 3,890,000 3,096,000 3,089,000 1,517,833 212,398 Total $22,516,560 $15,818,231 Annual debt service requirements to maturity for revenue bonds as of June 30, 2008, were as follows: Fiscal Year Ending June 30 Principal Interest Total 2009 $ 1,017,000 $ 603,129 $ 1,620,129 2010 1,056,000 563,057 1,619,057 2011 1,099,000 521,042 1,620,042 2012 1,141,000 478,232 1,619,232 2013 1,102,000 433,237 1,535,237 2014-2018 5,289,000 1,563,479 6,852,479 2019-2023 4,975,398 505,753 5,481,151 2024 138,833 2,603 141,436 $ 15,818,231 $4,670,532 $20,488,763 Revenue Bond Covenants The Sewer Revenue Bonds require: 1. Segregated cash accounts with restrictions on their use. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-43 2. Accounting for the sewer fund in accordance with generally accepted accounting principles and issuing audited statements annually. 3. Billing quarterly, no free services and legal action to collect delinquencies. 4. Reserves in operating account and Revenue Bond accounts (maximum due in any future calendar year). 5. Net revenues at least equal to 125% of the maximum annual debt service. 6. The bonds may be redeemed early if approval is sought from the Department of Natural Resources and all payments are current. The City of Missoula is in substantial compliance with all of the above requirements except for quarterly billing. For residential and some commercial accounts, the City bills every six months to conserve on postage costs and personnel time. Special Assessment Debt with Government Commitment Property owners are assessed for principal and interest to repay special assessment bonds. If sufficient funds are not received, loans are made from the SID Revolving fund. This fund is financed by fees paid by each new SID, by cash transferred from the general fund if needed and by any surplus remaining in completed SID’s. The cash balance in the Revolving Fund must equal at least 5% of the principal amount of debt outstanding. If the cash balance is less than a levy is required to bring the cash balance to the required minimum. The required minimum for the City at June 30, 2008 is $775,508. The Revolving Fund cash at June 30, 2008 is $776,343. The following table lists all outstanding special assessment bond issues and the outstanding balance as of June 30, 2008: Date Date Amount Balance Bonds Issued Matures Rate Issued June 30, 2008 498 1992 2012 4.00% $ 2,465,000 $ 371,[PHONE REDACTED] 2012 4.00% 943,000 105,[PHONE REDACTED] 2013 4.00% 324,000 54,[PHONE REDACTED] 2009 4.00 – 6.50% 174,000 10,[PHONE REDACTED] 2014 4.00% 304,000 77,[PHONE REDACTED] 2018 4-50.250% 1,724,000 835,[PHONE REDACTED] 2007 5.90% 41,000 11,[PHONE REDACTED] 2012 5.90% 213,000 59,[PHONE REDACTED] 2007 5.90% 9,800 2,[PHONE REDACTED] 2012 4.20-5.50% 91,000 23,[PHONE REDACTED] 2012 4.20-5.50% 39,000 10,[PHONE REDACTED] 2012 4.20-5.50% 109,000 28,[PHONE REDACTED] 2019 4.00% 2,634,000 1,409,[PHONE REDACTED] 2018 4.50-5.25% 7,900 3,803 [PHONE REDACTED] 2002 2018 2023 4.50-5.25% 4.00% 11,200 4,577,000 5,492 3,432,000 525 526 527 530 532 533 [PHONE REDACTED] 2000 2004 2006 2005 2006 2006 2006 2020 2021 2011 2016 2024 2025 2026 2026 4.00% 4.00% 2.70-3.80% 3.80-4.75% 3.50-5.00% 3.75% 3.75% 3.75% 658,000 2,671,000 22,400 6,706 556,000 244,000 254,000 438,000 418,000 1,825,000 9,600 5,366 460,000 219,000 237,000 407,000 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-44 540 2006 2027 3.75-4.65% 1,570,000 1,520,000 FY99 S&C 1999 2011 3.20-4.60% 644,000 80,000 FY00 S&C FY01 S&C FY02 S&C FY03 S&C FY04 S&C FY05 S&C FY06 S&C FY07 S&C FY08 S&C 2000 2001 2002 2003 2004 2005 2006 2007 2008 2012 2013 2014 2015 2016 2017 2018 2027 2028 4.625-5.5% 3.00-4.50% 2.00-4.40% 2.00-3.80% 2.00-4.75% 3.50-4.65% 3.75-4.25% 4.00-4.75% 2.50-5.00% 840,000 340,000 430,000 805,000 710,000 765,000 1,145,000 920,000 560,000 140,000 95,000 130,000 355,000 365,000 525,000 880,000 840,000 560,000 Total Special Assessment Bonds $27,246,006 $15,510,165 Annual debt service requirements to maturity for special assessment bonds as of June 30, 2008, were as follows: Fiscal Year Ending June 30 Principal Interest Total 2009 $ 1,479,871 $ 636,391 $ 2,116,262 2010 1,488,870 574,567 2,063,437 2011 1,488,870 514,337 2,003,207 2012 1,402,870 453,271 1,856,141 2013 1,162,670 395,970 1,558,640 2014-2018 4,617,016 1,330,829 5,947,845 2019-2023 3,132,000 494,218 3,626,218 2024-2028 738,000 77,839 815,839 Total $ 15,510,167 $ 4,477,422 $ 19,987,589 Sidewalk and Curb Interest Bearing Warrants Issued for sidewalk, curb and gutter improvements. Paid for through property assessments. Issue Interest Outstanding Date Rate Term June 30, 2008 1998 6.50% 12 yrs $ 20,672 1999 6.50% 12 yrs 100,251 Total Sidewalk and Curb Warrants $ 120,923 Annual debt service requirements to maturity for Sidewalk and Curb warrants as of June 30, 2008, were as follows: Fiscal Year Ending June 30 Principal Interest Total 2009 $ 20,672 $ 7,862 $ 28,534 2010 100,251 6,519 106,770 $120,923 $ 14,381 $ 135,304 Intercap Loans Intercap loans are loans for capital equipment from the Montana Board of Investments. Payments are due in August and February. The interest rate varies annually based on calculations provided by the State Board of Investments and was 4.85% for fiscal year 2008. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-45 Original Loan Balance Issue Date Maturity Date Amount June 30, 2008 2004 2014 $ 300,000 $ 222,425 Annual debt service requirements to maturity for Intercap loan as of June 30, 2008, were as follows: Fiscal Year Ending June 30 Principal Interest Total 2009 $ 31,116 $ 10,199 $ 41,315 2010 32,246 8,708 40,954 2011 33,417 7,162 40,579 2012 34,631 5,560 40,191 2013 35,888 3,901 39,789 2014-2015 55,127 2,606 57,733 Total $ 222,425 $ 38,136 $ 260,561 Component Units Revenue Bonds Missoula Parking Commission: Revenue bonds paid from parking revenues. Date Date Amount Balance Bonds Issued Matures Rate Issued June 30, 2008 Parking Commission 5/1/2001 11/1/2016 4.6-5.5% $1,700,000 $1,060,000 Minimum annual payments on principal and interest for bonds payable are shown below. Year Ended June 30 Principal Interest Totals 2009 $ 110,000 $ 52,245 $ 162,245 2010 115,000 46,788 161,788 2011 120,000 40,970 160,970 2012 130,000 34,655 164,655 2013 135,000 27,830 162,830 2014-2016 450,000 37,860 487,860 Totals $ 1,060,000 $ 240,348 $ 1,300,348 Missoula Redevelopment Agency: Revenue bonds paid from tax increment revenues. Date Date Amount Balance Bonds Issued Matures Rate Issued June 30, 2008 MAEDC Note Payable 8/10/2006 2031 1.50% $1,125,000 $1,125,000 2006 Tax Increment 8/15/2006 2031 4.89% 3,600,000 3,415,000 2007 Tax Increment 10/15/2007 2031 6.95% 1,500,000 1,500,000 Total $4,600,000 $6,040,000 The City of Missoula applied for and received a $1 million grant from the U.S. Environmental Protection agency (EPA) to create a revolving loan fund to be used for brownfields remediation of the Old Sawmill ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-46 District located within URD II. The City entered into a subrecipient agreement with the Missoula Area Economic Development Corporation (MAEDC) to manage the revolving loan fund. MAEDC provided $200,000 in matching funds required under the EPA grant, creating a total loan fund of $1.2 million. In August 2006, MAEDC made a loan of $1,000,000 bearing interest at 1.5% to MRP LLC, the developer of the Old Sawmill District, with MRA and the City identified as co-borrowers. The loan will be repaid solely from tax increment revenue resulting from the increased taxable value of the property within the Old Sawmill District, and is not a general obligation of the City. For these reasons, the loan is reflected as a liability of MRA. In August 2007, the loan was increased from $1 million to $1.125 million. Minimum annual payments on principal and interest for the bonds payable are shown below: Year Ended June 30 Principal Interest Totals 2009 $ 85,000 $ 161,675 $ 246,675 2010 90,000 405,733 495,733 2011 125,000 257,529 382,529 2012 135,000 251,169 386,169 2013 145,000 244,063 389,063 2014-2018 1,675,000 1,101,308 2,776,308 2019-2023 750,000 649,753 1,399,753 2024-2028 860,000 468,975 1,328,975 2029-2031 1,050,000 112,336 1,162,336 Totals $ 4,915,000 $ 3,652,541 $ 8,567,541 Debt service requirements to maturity for the MAEDC loan follow: Year Ending June 30 Principal Interest Total 2009 $ 41,295 $ 16,721 $ 58,016 2010 41,917 16,099 58,016 2011 42,548 15,468 58,016 2012 43,189 14,827 58,016 2013 43,839 14,177 58,016 2014-2018 229,297 60,784 290,081 2019-2023 247,087 42,995 290,082 2024-2028 266,257 23,823 290,080 2029-2031 169,571 4,479 174,050 Total $ 1,125,000 $ 209,373 $ 1,334,373 Conduit Debt Obligations The City has participated in several issues of industrial revenue bonds issued for the purpose of constructing privately operated facilities within the City. These bonds are not direct or contingent liabilities of the City. Revenues from lease agreements and property purchased with the bond proceeds are pledged for the total payment of principal and interest on the bonds and the bondholders can look only to these sources for repayment. Neither the City, the State, nor any political subdivision thereof is obligated in any manner for repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. As of June 30, 2008, there were four series of industrial revenue bonds outstanding, with an aggregate principal amount payable of $6,481,517. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-47 G. Employee Benefits 1. Statewide Retirement Plans Substantially all full-time City employees are eligible for one of three state-wide cost-sharing multiple- employer retirement plans. The City had a total payroll of $21,892,367 for FY08, of which $19,504,482 is covered by PERS, MPORS, or FURS. The financial information for all three retirement plans are reported in the Public Employees’ Retirement Board’s published “Comprehensive Annual Financial Report” for the fiscal year end. It is available from MPERA at 100 North Park Ave, P.O. Box 200131, Helena, MT 59620-0131, (406) 444-3154. Retirement expenditures are reported in the fund incurring the expense. Public Employees’ Retirement System (PERS) PERS is a statewide retirement plan established in 1945 and is governed by Title 19, Chapters 2 and 3 of the Montana Code Annotated providing retirement services for substantially all public employees. The PERS is a mandatory multiple-employer, cost sharing plan administered by the Montana Public Employees’ Retirement Administration (MPERA). The PERS offers retirement, disability and death benefits to plan members and their beneficiaries. Benefit eligibility is age 60 with at least five years of service; age 65 regardless of service; or 30 years of service regardless of age. Actuarial reduced benefits may be taken with 25 years of service or at age 50 with at least five years of service. retirement benefits are determined by taking 1/56 times the number of years of service times the final average salary. A guaranteed annual benefit adjustment (GABA) of 1.5% is provided each January for benefit recipients if they have been receiving a benefit for at least 36 months. Members’ rights become vested after five years of service. The authority to establish, amend and provide cost of living adjustments for the plan is assigned to the State legislature. The State legislature has the authority to establish and amend contribution rates to the plan. Plan members are required to contribute 6.90% of compensation. State and University employers are required to contribute 6.80% of members’ compensation. Local government entities are required to contribute 6.935% of members’ compensation. The State of Montana contributes 0.1% of members’ compensation on behalf of local government entities. Firefighters’ Unified Retirement System (FURS) The City contributes to the Firefighters’ Unified Retirement System (FURS). The FURS was established in 1981 and is governed by Title 19, Chapter 13 of the Montana Code Annotated providing retirement services for fully-paid firefighters. The FURS is a mandatory multiple-employer, cost sharing plan administered by the Montana Public Employees’ Retirement Administration (MPERA). The FURS offers retirement, disability and death benefits to plan members and their beneficiaries. A member may retire with a normal retirement benefit after completing 20 years of service, regardless of age. The service retirement benefit, for members hired before July 1, 1981, who did not elect to be covered under GABA is equal to ½ of the last compensation received. An additional amount equal to 2% of the last compensation earned for each year in excess of 20 years can be received. For those hired on or after July 1, 1981, who did not elect to be covered under GABA, the retirement allowance is equal to 2% of the final average compensation for each year of service. Post retirement benefits are 50% of a current firefighter’s salary. For members hired after June 30, 1997, and members hired prior to July 1, 1997 who have elected to be covered by GABA, a guaranteed annual benefit adjustment (GABA) of 1.5% is provided each January for benefit recipients if they have been receiving a benefit for at least 36 months. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-48 Rights become vested after 10 years of service. The authority to establish, amend and provide cost of living adjustments for the plan is assigned to the State legislature. The State legislature has the authority to establish and amend contribution rates to the plan. Plan members are required to contribute 9.5% of compensation if hired prior to July 1, 1997 and not electing GABA coverage. The contribution for plan members hired after June 30, 1997 and members hired prior to July 1, 1997 and electing GABA coverage is 10.7% of compensation. Employers are required to contribute 14.36% of members’ compensation. The State is required to contribute 32.61% of members’ compensation. One hundred percent of required contributions were received. Municipal Police Officers’ Retirement System (MPORS) The City contributes to the Municipal Police Officers’ Retirement System (MPORS). The MPORS was established in 1975 and is governed by Title 19, Chapter 2 and 9 of the Montana Code Annotated providing retirement services for all municipal police officers of cities covered by the plan. The MPORS is a mandatory multiple-employer, cost sharing plan administered by the Montana Public Employees’ Retirement Administration (MPERA). The MPORS offers retirement, disability and death benefits to plan members and their beneficiaries. Minimum years of service are 20 for benefit eligibility. The retirement benefit is calculated as follows: 2.5% – Final Average Salary – Years of Service. Any officers meeting the service year requirements shall receive ½ of the final average salary. For members hired after June 30, 1997, and members hired prior to July 1, 1997 who have elected GABA coverage a guaranteed annual benefit adjustment (GABA) of 1.5% is provided each January if the benefit recipient has been receiving a benefit for 36 months prior to January 1. Rights become vested after 20 years of service. The authority to establish, amend and provide cost of living adjustments for the plan is assigned to the State legislature. The State legislature has the authority to establish and amend contribution rates to the plan. Plan members are required to contribute 5.8% (for members hired prior to July 1, 1975 and not electing GABA), 7.0% (for members hired between July 1, 1975 and June 30, 1979 and not electing GABA), 8.5% (for members hired on and after July 1, 1979 and not electing GABA), and 9.0% (for new hires after June 30, 1997 and members electing GABA) of compensation. Employers are required to contribute 14.41% of members’ compensation. The State is required to contribute 29.37% of members’ compensation. One hundred percent of required contributions were received. All of the on-behalf payments for fringe benefits for the City’s employees were recognized as revenues and expenditures/expenses during the period. Contribution rates for the plans are required and determined by State law. The contribution rates, expressed as a percentage of covered payroll for the fiscal year ended June 30, 2008, were: PERS MPORS FURS Employee 6.90% 5.8 – 9.0% 9.5-10.7% Employer 6.935% 14.41% 14.36 % State .10% 29.37% 32.61% 5.0% for members hired prior to July 1, 1975 7.0% for members hired between July 1, 1975 and June 30, 1979 (not covered by GABA) 8.5% for members hired on or after July 1, 1979 9.0% for members hired after June 30, 1997 From July 1, 1997 to January 1, 1998 existing members could join the new plan (GABA) 10.7% for members hired after June 30, 1997 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-49 From July 1, 1997 to January 1, 1998 existing members could join the new plan (GABA) The City of Missoula and the State of Montana contributions (including component units) for the years ended June 30, 2006, 2007 and 2008 as listed below, were equal to the required contributions for each year. City State City State City State City State 2006 574,872 $ 8,454 $ 631,137 $ 1,342,803 $ 552,782 $ 1,274,868 $ 41,361 $ 620 $ 2007 606,774 8,923 678,509 1,382,916 676,155 1,535,474 42,[PHONE REDACTED] 656,741 9,564 731,885 1,670,873 677,821 1,538,654 45,987 676 Primary Government Component Units PERS MPORS FURS PERS 2. Insurance The City has a self-insured medical, dental and life insurance plan which provides benefits for all permanent employees electing to be covered. City and employee contribution rates depend on whether the employee is full or part time. City contributions were $335 for a half time employee to $670 for a full time employee. Employee contributions were $10 for full time employees up to $345 for half time employees. Retirees may also participate in the plan. The City subsidizes the retiree’s premium cost at 15%. They paid $539 per month, for medical coverage only. They are not covered by the dental and life insurance plans. City contributions to the plan for the year ended June 30, 2008 were $3,346,268, employee contributions were $427,616 and retiree contributions were $291,502. Premium expenses are charged to the appropriate departments, than deposited into the Employee Benefit Fund, an internal service fund. This fund is used to pay claims, stop loss insurance and an administrator to process claims. An operating transfer in the amount of $55,071 from the General Fund was made to the Employee Benefit Fund during fiscal year 2008. Following is a summary of the changes in the balances of claim liabilities (based on calucations provided by the plan administrator) during fiscal 2006, 2007 and 2008. Claims Payable Beginning of Fiscal Year Claims Incurred Claims Paid Claims Payable End of Fiscal Year 2006 261,754 $ 2,589,334 $ 2,698,749 $ 152,339 $ 2007 152,339 3,041,420 3,022,700 171,059 2008 171,059 3,146,703 3,095,689 222,073 3. Postemployment Benefits Terminated employees may remain on the City’s health insurance plan for up to 18 months if they pay the premiums. This benefit is required under the federal C.O.B.R.A. law. Retirees may remain on the City’s health plan as long as they wish, provided they pay the premiums. State law requires the City to provide this benefit. There are no other post-employment benefits provided by the City. Out of 415 individuals covered by the plan at June 2008, there were 47 retirees and 1 C.O.B.R.A. participant. The City has considered whether the provisions of GASB Statement 43, “Financial Reporting for Postemployment Benefit Plans other than Pension Plans” are applicable to its self-insured plan. Under GASB 43, the City’s plan is not administered as a trust and is a single-employer plan. Accordingly, the City has determined that Statement 43 does not apply. The City is required to adopt the provisions of GASB Statement 45, “Accounting and Financial Reporting by Employers for Postemployment Benefits other than Pension Plans,” in fiscal year 2009. GASB 45 requires employers to calculate the actuarial liability for future retiree benefits and the annual required contribution ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-50 (ARC) for retirees. The City has not yet determined whether the adoption of GASB 45 will have a material effect on its financial statements. 3. Deferred Compensation Plan The City offers its employees deferred compensation plans created in accordance with Internal Revenue Code Section 457. The plans, available to all City employees, permit them to defer a portion of their salary until future years. The pay out of deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. As the result of a change in federal law effective January 1, 1997, all of the City’s deferred compensation plans have converted to hold the assets in trust for the exclusive benefit of participants and their beneficiaries. As such, the City no longer recognizes the assets of the deferred compensation plans. H. Interfund Transfers - The City has the following transfers: Transfer To: Transfer From: Amount Explanation General Fund Street Maintenance 32,628 Reimburse General Fund for costs incurred within the flushing district General Fund Gas Tax 564,000 For street maintenance work by City street staff General Fund Employee Health Insurance 3,137,742 Reimburse General Fund from special health levy funds for health insurance premiums paid General Fund Cable TV Franchise 132,612 For right of way maintenance General Fund Russell Park Maintenance 2,740 Reimburse General Fund for costs incurred within the Russell Park Maintenance District General Fund Title I 8,400 Special budget request to support Partnership Health Center General Fund Willowwood Park Maintenance 4,854 Reimburse General Fund for costs incurred within the Willowwood Park Maintenance District $ 3,882,976 Total Non-major Special Revenue transfers to General Fund General Fund SID Revolving 289,250 To reimburse General Fund for SID costs $ 289,250 Total Non-major Debt Service transfers to General Fund General Fund Sewer 241,240 Reimburse General Fund for proportionate share of various technology improvements $ 241,240 Total Major Proprietary fund transfers to General Fund CDBG Fund Program Income 2,000 To appropriate fund activity to correct fund $ 2,000 Total Non-major Special Revenue transfers to Non-major Special Revenue Capital Improvement General Fund 130,500 Support for capital projects $ 130,500 Total General Fund transfers to Non-major Capital Projects Aquatics General Fund 306,038 Support for aquatics activities $ 306,038 Total General Fund transfers to Major Enterprise Funds Employee Benefit Plan General Fund 55,071 Retiree subsidizing approved by the City council $ 55,071 Total General Fund transfers to Internal Service ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-51 I. Transactions with Component Units The City of Missoula’s significant transactions with its discretely presented component units include: Transfer To: Transfer From: Amount Explanation General Fund MRA $ 5,490 To support new enhancements to operating budget J. Restricted Cash/Investments/Assets The following restricted cash/investments were held by the City as of June 30, 2008: Description Amount Primary Government Sewer Fund - Restricted for debt service $1,617,326 Component Units Missoula Redevelopment Agency - Restricted for debt service 250,500 Missoula Parking Commission - Restricted for debt service 150,000 Total Restricted Cash $ 2,017,826 The following net assets were restricted by the City for the reasons stated below as of June 30, 2008: Description Amount Primary Government Governmental Funds - Restricted for debt service $3,175,573 Sewer - Restricted for debt service 1,303,028 Component Units Missoula Redevelopment Agency - Restricted for debt service 250,500 Missoula Parking Commission - Restricted for debt service 150,000 Total Restricted Net Assets $4,879,101 K. Joint Operations with the County Through interlocal agreements between the City of Missoula and Missoula County services are provided jointly for Health, Office of Planning and Grants, Library, Animal Control and Missoula Art Museum. Members of the governing boards for these operations are appointed by both the City and County with the exception of the Art Museum. In all cases, the County is responsible for handling the administration and accounting for these service areas and includes them in their financial statements. The City provides office space within City Hall for the Office of Planning and Grants. The Art Museum building is included in the City’s general capital assets. Health, Animal Control and Library are located in County facilities and are recorded on the County’s capital asset records. In all cases, should the interlocal agreements be dissolved, the furniture and equipment will be returned to each unit of government on an equal basis. Buildings will remain in the custody of the government currently reporting them. The City and County meet each year to determine budgetary support. All of the above services have had sufficient funding to carry out their intended purposes. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-52 L. Risk Management The City faces a considerable number of risks of loss, including: a) damage to and loss of property and contents, b) citizen and employee tort claims, c) professional liability, i.e., errors and omissions, d) environmental damage, e) workers’ compensation, i.e. employee injuries, and f) medical insurance costs of employees. A variety of methods are used to provide insurance for these risks. Commercial policies, transferring all risks of loss, except for relatively small deductible amounts are purchased for property and content damage and professional liabilities. The City participates in three statewide public risk pools operated by the Montana Municipal Insurance Authority (MMIA), for property insurance, workers’ compensation and for tort liability coverage. Employee medical insurance is provided through a privately administered, self-insured plan. The City of Missoula has an addendum through MMIA in its property coverage termed pollution coverage for environmental damages. Coverage limits and the deductibles on the commercial policies have stayed relatively constant for the last several years. The premiums for the policies are paid from the General Fund. Settled claims resulting from these risks have not exceeded commercial insurance coverage in the last four years. In 1986 the City joined together with other Montana cities to form the Montana Municipal Insurance Authority which established a workers’ compensation plan and a tort liability plan. Both public entity risk pools currently operate as common risk management and insurance programs for the member governments. The liability limits for damages in tort action for claims brought pursuant to state law are $750,000 per claim and $1.5 million per occurrence with a $15,000 deductible per occurrence. State tort law limits the City’s liability to $1.5 million. There are no liability limits for claims filed pursuant to federal law. The city pays an annual premium for its employee injury insurance coverage, which is allocated to the employer funds based on total salaries and wages. The agreements for formation of the pools provide that they will be self-sustaining through member premiums. Complete financial statements can be obtained by contacting MMIA at PO Box 6669, Helena, MT 59604-6669. The City provides medical insurance coverage for its employees via a self-insured plan administered by Allegiance Benefit Plan Management, Inc. It provides medical, dental and vision benefits and is operated as an Internal Service Fund, funded by premiums charged to each department, based on the employees in that department, premiums from employees for their spouses, dependents, premiums from retirees electing to remain under the City’s plan, and pro rated premiums from part-time and seasonal eligible employees. A commercial "stop-loss" policy has been purchased to cover any claims that exceed $100,000 per individual or in aggregate for the plan in excess of 95% of the first aggregate attachment point times 12. M. Pending Litigation The City of Missoula is party to certain litigation under which it may be required to pay certain monies upon the decision of the courts. The office of the City Attorney reports various contingent liabilities based on the amount of damages alleged in various cases. It is the opinion of the City Attorney that the City’s liability in the cases not covered by insurance will not be material to the financial statements, except one case in which it is reasonably possible that the amount of uninsured loss could be material. However, because the amount of the loss, if any, is not reasonably determinable no provision has been made in the financial statements for these contingent liabilities. N. Change in Accounting Principle The government-wide financial statements and fund financials include a change in accounting principle due to the city’s decision to change the application of the tax revenue recognition accounting principle. The current year’s financial statements reflect a 60-day availability period for tax revenue recognition instead of the prior year’s policy of 30-day availability. This change in accounting principle will smooth out any fluctuations for inconsistent timing of tax billings by Missoula County. The change had the affect of increasing net assets/fund balances in the governmental financial statements as of July 1, 2007, by $244,881. ---PAGE BREAK--- CITY OF MISSOULA, MONTANA NOTES TO FINANCIAL STATEMENTS JUNE 30, 2008 Page FS-53 O. Special Items The City of Missoula constructed several aquatics facilities which opened for business in fiscal year 2007, at which time all of the business transactions were handled by the general fund. At the beginning of fiscal year 2008 the City established a proprietary fund specifically designed to account for the enterprise transactions of the aquatics facilities. As a result the general fund contributed $13,409,207 in capital assets and inventory to this newly established fund. P. Construction Commitments The City has entered into the following contracts for the design, construction or renovation of the following capital projects: Expended Remaining Sewer Funds to Date Commitment Cara Park Lift Station $ 310,000 $ 269,800 Headworks Upgrade 650,000 640,713 Digester Gas Scrubber 75,000 65,144 Ryman Street Sewer Mains 215,028 237,889 West Reserve Sewer Mains 714,757 3,029,892 Expended Remaining Governmental Funds to Date Commitment Fort Missoula Regional Park $ 179,697 $ 102,914 McCormick Park Site Plan 30,730 90,000 Silvers Lagoon & Silver Park 268,335 7,500 Pineview Park 75,492 750,000 Lafray Park 107,798 160,000 50 Meter Pool 1,104,424 162,636 Playfair ---PAGE BREAK--- ---PAGE BREAK--- BUDGET TO ACTUAL BUDGET TO ACTUAL COMPARISON COMPARISON GENERAL FUND GENERAL FUND ---PAGE BREAK--- ---PAGE BREAK--- REQUIRED REQUIRED SUPPLEMENTARY INFORMATION SUPPLEMENTARY INFORMATION OTHER THAN MANAGEMENT OTHER THAN MANAGEMENT DISCUSSION AND ANALYSIS DISCUSSION AND ANALYSIS ---PAGE BREAK--- ---PAGE BREAK--- Page FS-54 General Fund Variance Budgeted Amounts Actual with Final Original Final Amounts Budget Revenues Taxes and assessments 17,755,997 $ 17,755,997 $ 17,312,969 $ (443,028) $ Licenses and permits 1,432,253 1,432,753 1,202,941 (229,812) Intergovernmental 9,241,744 9,403,744 9,444,310 40,566 Charges for services 3,858,026 3,958,713 3,663,064 (295,649) Fines and forfeitures 1,479,558 1,479,558 1,172,962 (306,596) Miscellaneous 702,893 905,893 595,858 (310,035) Investment earnings 300,000 300,000 420,695 120,695 Total revenues 34,770,471 35,236,658 33,812,799 (1,423,859) Expenditures General government 6,377,505 6,239,813 6,118,475 121,338 Public safety 19,507,921 19,867,216 20,268,016 (400,800) Public works 6,337,962 6,471,523 6,274,691 196,832 Public health 1,367,663 1,367,663 1,364,663 3,000 Social and economic services 115,000 115,000 115,000 - Culture and recreation 3,240,070 3,322,729 3,054,484 268,245 Miscellaneous 1,220,217 1,220,217 1,024,464 195,753 Capital outlay 660,677 704,677 682,858 21,819 Total Expenditures 38,827,015 39,308,838 38,902,651 406,187 Excess of revenues over expenditures (4,056,544) (4,072,180) (5,089,852) (1,830,046) Other Financing Sources (Uses) Transfers in 4,401,328 4,401,328 4,418,956 17,628 Transfers out (1,325,963) (1,325,963) (491,609) (834,354) Total Other Financing Sources (Uses) 3,075,365 3,075,365 3,927,347 (816,726) Net change in fund balance (981,179) (996,815) (1,162,505) (2,646,773) Fund balances - beginning 2,124,659 2,124,659 2,124,659 2,124,659 Cumulative effect of a change in accounting principle 239,919 Fund balances - ending 1,143,480 $ 1,127,844 $ 1,202,073 $ (522,114) $ Note: The City prepares its budget on the basis of generally accepted accounting principles. City of Missoula, Montana Budgetary Comparison Statement June 30, 2008 ---PAGE BREAK--- ---PAGE BREAK--- SUPPLEMENTAL INFORMATION SUPPLEMENTAL INFORMATION ---PAGE BREAK--- ---PAGE BREAK--- COMBINING FINANCIAL COMBINING FINANCIAL STATEMENTS STATEMENTS ---PAGE BREAK--- ---PAGE BREAK--- Page SI-1 NONMAJOR GOVERNMENTAL FUNDS FUND DESCRIPTIONS SPECIAL REVENUE FUNDS Special revenue funds account for resources and expenditures which are designated by law or contractual agreement for specified functions or activities and are legally required to be accounted for in separate funds. Such resources are derived from specific taxes, federal grants and entitlements. Park Acquisition & Development Fund – Accounts for the revenues and expenditures of money received from developers as “Payment In Lieu of” park land dedications. This money is earmarked for park acquisition and initial development. It is often used as local match money for development grants from the Heritage Conservation and Recreation Service (HCRS). Park Enterprise Fund – Accounts for fees from adult recreation programs for purchases and improvements to benefit those programs directly. Revenue sources are “Field Use Fees” from organized recreation leagues and fees received from the School Districts for their use of park facilities. Parks & Trails Development Fund – This fund provides a means to budget and account for donation and bequests for Caras Park Improvements. This fund also receives annual lease payments from the Carousel which must be used for parks and trails improvements and enhancements. Cemetery Cremain Wall and Memorials Fund – This fund accounts for the sale of niche plates and miscellaneous donations that become available. Expenditures from this fund are primarily for the improvements related to niche walls. Cemetery Care Fund – Accounts for proceeds from the sale of cemetery lots. The fund receives 25% of all moneys realized from the sale of cemetery lots, and this money as well as investment interest is used for the care and maintenance of the City Cemetery. Title I Projects Fund – The City began receiving revenues in FY86 from projects done in the Central Business District which used the U.S. Department of Housing and Urban Development’s Urban Development Action Grants. The revenues will be loan repayments from the Central Square office building and from the Sheraton Hotel Project. All expenditures have to be for eligible projects of the Housing and Community Development Act of 1974 as amended. Impact Fee Fund – The City enacted general impact fees effective October 1, 2004. The revenues received in this fund will be used to fund public costs and facilities that have additional demands placed on them by new development. ---PAGE BREAK--- Page SI-2 NONMAJOR GOVERNMENTAL FUNDS FUND DESCRIPTIONS (Cont.) SPECIAL REVENUE FUNDS (Cont.) Public Art Fund – This fund is used to further public accessibility to the arts through educational programs, dissemination of information, development of public art projects, development of public art funding sources, and to serve an advisory /advocacy role with public art sponsors and media. Employee Health Insurance Agency – This fund receives tax revenues from the All Purpose Levy for the costs of the City’s self-insurance plan and transfers funds to the general fund to offset the cost of health insurance for City employees. Cable Television Franchise Fund – Accounts for revenue from cable television franchise agreements, pursuant to the Cable TV Franchise Enabling Ordinance (#2617) and a Non- exclusive Cable TV Franchise Ordinance (#2618). The City receives 5% of gross revenues after 50% advertising revenue is deducted for the exclusive ordinance (#2617) and 5% of gross revenues for the non-exclusive ordinance (#2618) for franchise fees. Drug Forfeiture Fund – This fund accounts for property, money from sales of seized property, and cash payments resulting from Justice of the Peace verdicts, and seized cash from drug related crimes. Money received in this fund has to be spent on drug related expenditures. Building Inspection Fund – Accounts for revenues and expenditures relating to the administration and enforcement of building regulations in the City of Missoula and the jurisdictional area, which is approximately four and one-half miles beyond the City limits. City Grants and Program Income Fund – This fund is used to aid qualified landlords for rehabilitation work, in an effort to improve the rental housing stock in Missoula, and also to assist low to moderate income individuals. Revolving Loan Fund – This fund derives its funding from sewer assistance grants that have been repaid to the City, in addition to a water quality district appropriation. The money is used to provide sewer connection assistance to limited income persons within Missoula County. Street Lighting Districts – The purpose of this fund is to pay 100% of the utility bills for the City’s street lighting districts. Street Maintenance – This fund pays for the costs of services associated with the maintenance and care of Street Maintenance District ---PAGE BREAK--- Page SI-3 NONMAJOR GOVERNMENTAL FUNDS FUND DESCRIPTIONS (Cont.) SPECIAL REVENUE FUNDS (Cont.) Russell Park West Maintenance – This fund pays for the services associated with the maintenance and care of Russell Park West. Willowwood Park Maintenance – This fund pays for the services associated with the maintenance of Willowwood Park. Gas Tax Fund – This fund receives and distributes gasoline tax revenues from the State of Montana. Expenditures are restricted to labor and materials for street improvements and cannot be used for equipment purchases. Crime Victim Surcharge Fund - Accounts for revenues and expenditures related to the office of Crime Victim Advocates. Revenue comes from fees collected ($24 per criminal citation, except traffic citations) and is disbursed to the Office of Planning and Grants to be used for the staffing of Crime Victim Advocates. Law Enforcement Block Grant Fund – Accounts for funds received and expended from a Local Law Enforcement Block Grant authorized by the Omnibus FY 96 Appropriations Act. HIDTA (High Intensity Drug Trafficking Area) Grant Fund – Accounts for funds received and expended by the HIDTA Task Force. Reimbursement for this multi- jurisdictional task force is provided by Office of National Drug Control Policy. Community Development Block Grant – Accounts for transactions related to Community Development Block Grants that are awarded to the City. HOME Grant – Accounts for transactions related to HOME Grants that are awarded to the City. ADDI (American Dream Downpayment Initiative) - Accounts for funds received and expended to provide first-time homebuyer assistance for Missoulians with annual incomes between 50% and 80% of the area median income. Federal Transportation – Accounts for Federal CTEP grant funds and matching money from other City Funds that is to be expended for projects identified by the City’s Capital Improvement Program and approved by the State. Grants and Donations – This fund accounts for the receipt and expenditure of a variety of grant and donation funds. ---PAGE BREAK--- Page SI-4 NONMAJOR GOVERNMENTAL FUNDS FUND DESCRIPTIONS (Cont.) DEBT SERVICE FUNDS The debt service funds account for the accumulation of resources for the payment of principal and interest in debt such as general obligation, tax increment, and special assessment. SID Revolving Funds – These funds account for moneys designated as revolving funds for debt service for loans incurred for special improvement districts. 1998 Public Safety Bond – Provides debt service related to the issuance of the bonds to purchase Police, Fire, and Communications Equipment. 1996 Open Space Bond - This fund was created to provide debt service related to the issuance of general obligation bonds to purchase open space and conservation easements. The interest rate on this bond issue varies from 3.8% to 7.25%. 1997 Open Space Bond - This fund was created to provide debt service related to the issuance of general obligation bonds to purchase open space and conservation easements. The interest rate on this bond issue varies from 3.9% to 5.2%. 1994 City Hall & Fire Bonds – Provides debt service for bonds sold to finance improvements to City Hall and to purchase fire equipment. 1993 Fire Station Bonds – Issued to purchase land and build a new fire station on the west side of Missoula as well as replace the downtown headquarters fire station. The interest rate on the amortization bonds is 5.48%. 2004 Aquatics Bonds – Issued to construct a new aquatics facility that will be located at McCormick Park and repair the public swimming pools. The interest rate on the amortization bonds varies from 3.00% to 4.50%. 2004 GO Refunding Bonds – Issued in 2004 to provide funds for refunding on July 1, 2004 the City’s outstanding General Obligation Bonds, Series 1993 and Series 1994. The interest rate varies from 3.0% to 3.8%. 2006 Fire Station GO Bonds – Issued in 2005 to provide funds for expanding, upgrading and making improvements to the City’s firefighting facilities and capacity, including: designing, constructing, and acquiring equipment, including a fire pumper and a wildland fire engine for a new fire station (Fire Station Five) in the Linda Vista Miller Creek area to serve the southwest part of the city; demolishing existing Fire Station Two and designing, constructing, and equipping on the site a new Fire Station Two; remodeling, expanding and equipping Fire Station Three (the “Project”) and paying costs associated with the sale and issuance of the bonds. ---PAGE BREAK--- Page SI-5 NONMAJOR GOVERNMENTAL FUNDS FUND DESCRIPTIONS (Cont.) DEBT SERVICE FUNDS (Cont.) 2007 GO Refunding Bonds - Issued in 2007 to provide for refunding the City’s outstanding General Obligation Bonds, Series 1996, Series 1997 and Series 1998. The interest rate varies from 3.6% to 4.0%. Sidewalk & Curb Funds - These funds are used to account for and provide debt service for various bond issues to make sidewalk and curb improvements. SID Funds – These funds provide debt service for debt incurred to create, construct and maintain special improvement districts within the City. CAPITAL PROJECTS FUNDS The capital projects funds account for the financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by proprietary and trust funds). 1997 Open Space Purchase Fund – Missoula voters approved a $5,000,000 general obligation bond referendum in November 1997 allowing the City to purchase open space land and conservation easements. 2006 Fire Station GO Bond - Missoula voters approved a $5,740,000 general obligation bond referendum in November 2005 for the purpose of expanding, upgrading, and making improvements to the City of Missoula’s firefighting facilities and capacity. This includes designing, constructing, and acquiring equipment, including a fire pumper and a wildland fire engine for a new fire station (Fire Station Five) in the Linda Vista Miller Creek area to serve the southwest part of the city; demolishing existing Fire Station Two and designing, constructing, and equipping on the site a new Fire Station Two; remodeling, expanding, and equipping Fire Station Three; related improvements; and paying costs associated with the sale and issuance of the bonds. ---PAGE BREAK--- Page SI-6 NONMAJOR GOVERNMENTAL FUNDS FUND DESCRIPTIONS (Cont.) CAPITAL PROJECTS FUNDS (Cont.) Sidewalk and Curb – Accounts for various sidewalk and curb improvements funded through various bond issues. SID Funds – These funds account for the creation, construction and maintenance of special improvement districts within the City. Miller Creek Mitigation Funds – These funds account for fees collected by the County from new developments to pay for road improvements in the Miller Creek area. ---PAGE BREAK--- NONMAJOR GOVERNMENTAL NONMAJOR GOVERNMENTAL FUNDS FUNDS ---PAGE BREAK--- ---PAGE BREAK--- TOTALS FOR TOTALS FOR COMBINING BALANCE SHEET COMBINING BALANCE SHEET AND AND COMBINING SCHEDULE OF REVENUES, COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES EXPENDITURES AND CHANGES IN FUND BALANCE IN FUND BALANCE FOR NONMAJOR FOR NONMAJOR GOVERNMENTAL FUNDS GOVERNMENTAL FUNDS ---PAGE BREAK--- ---PAGE BREAK--- Page SI-7 --TOTALS-- NONMAJOR SPECIAL DEBT CAPITAL GOVERNMENTAL REVENUE SERVICE PROJECTS FUNDS ASSETS Cash and Investments 2,937,312 $ 1,561,252 $ 2,423,232 $ 6,921,796 $ Taxes Receivable 319,230 177,131 - 496,361 Special Assessments Receivable 10,744 130,973 - 141,717 Interest Receivable 2,434 18,273 387 21,094 Prepaid Expense 6,700 - - 6,700 Other Receivables 146,812 183,395 551,358 881,565 Long Term Loans 12,900 - - 12,900 Interfund Receivable 625,835 1,586,381 3,600 2,215,816 Due From Other Governments 502,790 14,116 - 516,906 Deferred Assessments Receivable - 11,174,377 - 11,174,377 TOTAL ASSETS 4,564,757 $ 14,845,898 $ 2,978,577 $ 22,389,232 $ LIABILITIES Accounts Payable 323,246 $ 830 $ 290,769 $ 614,845 $ Accrued Payroll 15,886 - - 15,886 Interfund Payable 795,230 613,976 660,171 2,069,377 Deferred Revenues 221,886 11,576,535 551,358 12,349,779 TOTAL LIABILITIES 1,356,248 12,191,341 1,502,298 15,049,887 FUND EQUITY Fund Balance Reserved For Debt Service - 2,654,557 - 2,654,557 Undesignated 3,208,509 - 1,476,279 4,684,788 TOTAL EQUITY AND OTHER CREDITS 3,208,509 2,654,557 1,476,279 7,339,345 TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS 4,564,757 $ 14,845,898 $ 2,978,577 $ 22,389,232 $ CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET TOTALS FOR NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2008 ---PAGE BREAK--- Page SI-8 --TOTALS-- SPECIAL DEBT CAPITAL NONMAJOR REVENUE SERVICE PROJECTS GOVERNMENTAL REVENUES Taxes 3,180,327 $ 1,773,364 $ - $ 4,953,691 $ Special Assessments 341,133 2,068,288 - 2,409,421 Licenses & Permits 2,851,533 - - 2,851,533 Intergovernmental 2,762,218 - - 2,762,218 Charges for Services 248,749 - - 248,749 Fines and Forfeitures 42,993 - - 42,993 Miscellaneous 104,597 - 712,155 816,752 Investment Earnings 43,242 194,083 (49,510) 187,815 TOTAL REVENUES 9,574,792 4,035,735 662,645 14,273,172 EXPENDITURES General Government 355,849 - 12,574 368,423 Public Safety 1,369,007 - - 1,369,007 Public Works 326,030 - 69,656 395,686 Culture and Recreation 49,512 - 2,750 52,262 Community Development 1,017,034 - - 1,017,034 Debt Service - 3,820,347 - 3,820,347 Capital Outlay 860,026 - 3,064,209 3,924,235 TOTAL EXPENDITURES 3,977,458 3,820,347 3,149,189 10,946,994 Excess (Deficiency) of Revenues Over Expenditures 5,597,334 215,388 (2,486,544) 3,326,178 OTHER FINANCING SOURCES (USES) Operating Transfers In 2,000 - - 2,000 Operating Transfers Out (3,884,975) (289,250) - (4,174,225) Issuance of Long Term Debt - 99,114 1,439,240 1,538,354 Sale of Capital Assets 1,564 - - 1,564 TOTAL OTHER FINANCING SOURCES (USES) (3,881,411) (190,136) 1,439,240 (2,632,307) Excess (Deficiency) of Revenues and Other Sources Over Expenditures and Other Uses 1,715,923 25,252 (1,047,304) 693,871 Fund Balance, July 1, 2007 1,462,685 2,590,167 2,546,449 6,599,301 Cumulative effect of a change in accounting principle 50,797 39,138 - 89,935 Restatements (20,896) - (22,866) (43,762) Fund Balance, July 1, 2007, As Restated 1,492,586 2,629,305 2,523,583 6,645,474 Fund Balance, June 30, 2008 3,208,509 $ 2,654,557 $ 1,476,279 $ 7,339,345 $ CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TOTALS FOR NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2008 ---PAGE BREAK--- COMBINING BALANCE SHEET COMBINING BALANCE SHEET FOR NONMAJOR FOR NONMAJOR GOVERNMENTAL GOVERNMENTAL SPECIAL REVENUE SPECIAL REVENUE FUNDS FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL SPECIAL REVENUE FUNDS JUNE 30, 2008 Page SI-9 Park Park Trail Cremain Cemetery Title One Acquisition Enterprise Development Wall Care Projects ASSETS AND OTHER DEBITS Cash and Investments 216,143 $ 179,369 $ 238,625 $ 30,033 $ 239,476 $ 25,146 $ Taxes Receivable - - - - - - Special Assessments Receivable - - - - - - Interest Receivable - - - - - 2,551 Prepaid Expenses - - - - - - Other Receivables Vendors - - - - 1,564 - Mountain Water Notes - - - - - - Interfund Receivable - - - - - 581,541 Long Term Loans Extended Family Services - - - - - 12,900 Due From Other Governments - - - - - - TOTAL ASSETS 216,143 $ 179,369 $ 238,625 $ 30,033 $ 241,040 $ 622,138 $ LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable - $ - $ 13,190 $ 102 $ - $ - $ Accrued Payroll - - - - - - Due to Other Funds - - - - - - Deferred Revenues - - - - - 12,900 TOTAL LIABILITIES - - 13,190 102 - 12,900 FUND EQUITY AND OTHER CREDITS Fund Balance Undesignated 216,143 179,369 225,435 29,931 241,040 609,238 TOTAL EQUITY AND OTHER CREDITS 216,143 179,369 225,435 29,931 241,040 609,238 TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS 216,143 $ 179,369 $ 238,625 $ 30,033 $ 241,040 $ 622,138 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL SPECIAL REVENUE FUNDS JUNE 30, 2008 Page SI-10 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Prepaid Expenses Other Receivables Vendors Mountain Water Notes Interfund Receivable Long Term Loans Extended Family Services Due From Other Governments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Accrued Payroll Due to Other Funds Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Undesignated TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS Impact Public Employee Cable TV Drug Building Fee Art Health Ins Franchise Forfeiture Division 340,094 $ 64,124 $ - $ 30,843 $ 65,134 $ 167,645 $ - - 319,230 - - - - - - - - - 1,430 - (2,225) - - 1,045 - - - - - 6,700 2,524 - - 132,076 - 3,986 - - - - - - - - - - - - - - - - - - - - 404 - 1,212 - 344,048 $ 64,124 $ 317,409 $ 162,919 $ 66,346 $ 179,376 $ - $ - $ - $ - $ 2,328 $ 12,687 $ - - - - - 15,071 - 529,119 - - - 193,976 - - - - - 723,095 - 2,328 27,758 344,048 64,124 (405,686) 162,919 64,018 151,618 344,048 64,124 (405,686) 162,919 64,018 151,618 344,048 $ 64,124 $ 317,409 $ 162,919 $ 66,346 $ 179,376 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL SPECIAL REVENUE FUNDS JUNE 30, 2008 Page SI-11 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Prepaid Expenses Other Receivables Vendors Mountain Water Notes Interfund Receivable Long Term Loans Extended Family Services Due From Other Governments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Accrued Payroll Due to Other Funds Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Undesignated TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS Program Revolving Street Street Russell Willowwood Income Loan Program Lighting Maintenance Park Mtnc Maintenance 2,656 $ - $ 270,249 $ - $ - $ - $ - - - - - - - - 7,192 3,552 - - (523) 185 - - - - - - - - - - - 1,500 - - - - 5,162 - - - - - - 44,031 - - - - - - - - - - - - 234 - - - 7,295 $ 45,716 $ 277,675 $ 3,552 $ - $ - $ - $ 375 $ 25,229 $ - $ - $ - $ - - - - - - - - 8,420 2,897 1,977 5,162 - 6,295 3,553 - - 5,162 375 31,524 11,973 2,897 1,977 2,133 45,341 246,151 (8,421) (2,897) (1,977) 2,133 45,341 246,151 (8,421) (2,897) (1,977) 7,295 $ 45,716 $ 277,675 $ 3,552 $ - $ - $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL SPECIAL REVENUE FUNDS JUNE 30, 2008 Page SI-12 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Prepaid Expenses Other Receivables Vendors Mountain Water Notes Interfund Receivable Long Term Loans Extended Family Services Due From Other Governments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Accrued Payroll Due to Other Funds Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Undesignated TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS State Gas Crime Victim Law Enforcement HIDTA Comm. Devel. Tax Surcharge Grant Grant Program Income 93,241 $ 14,178 $ - $ 600,265 $ 12,581 $ - - - - - - - - - - - 60 (143) - 54 - - - - - - - - - - - - - - - - - - - - 263 - - - - - - 7,402 46,715 - - 93,241 $ 21,640 $ 46,572 $ 600,265 $ 12,898 $ 67,952 $ 26,840 $ 13,500 $ 6,090 $ - $ - - - - - - - 34,049 - - - - - - - 67,952 26,840 47,549 6,090 - 25,289 (5,200) (977) 594,175 12,898 25,289 (5,200) (977) 594,175 12,898 93,241 $ 21,640 $ 46,572 $ 600,265 $ 12,898 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL SPECIAL REVENUE FUNDS JUNE 30, 2008 Page SI-13 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Prepaid Expenses Other Receivables Vendors Mountain Water Notes Interfund Receivable Long Term Loans Extended Family Services Due From Other Governments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Accrued Payroll Due to Other Funds Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Undesignated TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS Community HOME ADDI Federal Grants & Development Grant Grants Transportation Donations - $ - $ - $ - $ 347,510 $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 32,308 198,715 - 124,783 91,017 32,308 $ 198,715 $ - $ 124,783 $ 438,527 $ 6,849 $ 51,076 $ - $ 80,596 $ 16,432 $ - - - - 815 34,316 120,454 - 63,998 - - - - - - 41,165 171,530 - 144,594 17,247 (8,857) 27,185 (19,811) 421,280 (8,857) 27,185 - (19,811) 421,280 32,308 $ 198,715 $ - $ 124,783 $ 438,527 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL SPECIAL REVENUE FUNDS JUNE 30, 2008 Page SI-14 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Prepaid Expenses Other Receivables Vendors Mountain Water Notes Interfund Receivable Long Term Loans Extended Family Services Due From Other Governments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Accrued Payroll Due to Other Funds Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Undesignated TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS TOTALS 2,937,312 $ 319,230 10,744 2,434 6,700 141,650 5,162 625,835 12,900 502,790 4,564,757 $ 323,246 $ 15,886 795,230 221,886 1,356,248 3,208,509 3,208,509 4,564,757 $ ---PAGE BREAK--- COMBINING BALANCE SHEET COMBINING BALANCE SHEET FOR NONMAJOR FOR NONMAJOR GOVERNMENTAL GOVERNMENTAL DEBT SERVICE DEBT SERVICE FUNDS FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-15 SID 1998 1996 Open 1997 Open 1994 City Hall 1993 Fire Revolving Safety Bond Space Bonds Space Bond & Fire Bonds Bonds ASSETS AND OTHER DEBITS Cash and Investments 776,343 $ - $ 1,460 $ 42,435 $ 213 $ 397 $ Taxes Receivable - 7,673 5,572 1,809 2,417 3,994 Special Assessments Receivable - - - - - - Interest Receivable 3,623 (38) 6 1,817 1 2 Other Receivables Mountain Water Notes 181,233 - - - - - Miscellaneous - - - - - - Interfund Receivable - - - - - - Due From Other Governments - 8 2 1 - - Deferred Assessments - - - - - - TOTAL ASSETS 961,199 $ 7,643 $ 7,040 $ 46,062 $ 2,631 $ 4,393 $ LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable - $ - $ - $ - $ - $ - $ Interfund Payable - 8,937 - - - - Deferred Revenues 181,233 5,205 5,266 1,680 2,403 3,968 TOTAL LIABILITIES 181,233 14,142 5,266 1,680 2,403 3,968 FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service 779,966 (6,499) 1,774 44,382 228 425 TOTAL EQUITY AND OTHER CREDITS 779,966 (6,499) 1,774 44,382 228 425 TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS 961,199 $ 7,643 $ 7,040 $ 46,062 $ 2,631 $ 4,393 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-16 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS 2004 Aquatics 2004 2006 2007 Sidewalk FY99 Sidewalk Bonds Refunding Fire Station GO Refunding Bonds & Curb & Curb - $ - $ - $ - $ - $ - $ 63,883 37,827 29,039 24,917 - - - - - - 8,130 21,050 129 (1,000) 4,805 (673) 777 - - - - - - - - - - - - - - - - 184,622 - 87 50 41 35 - - - - - - 20,854 81,839 64,099 $ 36,877 $ 33,885 $ 24,279 $ 214,383 $ 102,888 $ - $ - $ - $ - $ - $ - $ 124,726 82,363 193,482 160,071 - 244 36,741 22,037 16,318 13,681 28,413 102,722 161,467 104,400 209,800 173,752 28,413 102,966 (97,368) (67,523) (175,915) (149,473) 185,970 (78) (97,368) (67,523) (175,915) (149,473) 185,970 (78) 64,099 $ 36,877 $ 33,885 $ 24,279 $ 214,383 $ 102,888 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-17 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS FY00 Sidewalk FY01 Sidewalk FY02 Sidewalk FY03 Sidewalk FY04 Sidewalk FY05 Sidewalk & Curb & Curb & Curb & Curb & Curb & Curb 3,301 $ 38,589 $ 24,084 $ - $ 40,789 $ 91,221 $ - - - - - - 9,234 1,931 4,180 3,448 4,654 6,939 14 162 101 (124) 172 383 - - - - - - - - - - - - - - - - - - 2,308 365 162 576 46 - 137,411 93,962 115,818 355,714 366,471 472,782 152,268 $ 135,009 $ 144,345 $ 359,614 $ 412,132 $ 571,325 $ - $ - $ 300 $ 250 $ - $ - $ - - - 29,516 - - 146,523 95,894 119,310 357,287 371,125 479,326 146,523 95,894 119,610 387,053 371,125 479,326 5,745 39,115 24,735 (27,439) 41,007 91,999 5,745 39,115 24,735 (27,439) 41,007 91,999 152,268 $ 135,009 $ 144,345 $ 359,614 $ 412,132 $ 571,325 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-18 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS FY06 Sidewalk FY07 Sidewalk FY08 Sidewalk & Curb & Curb & Curb SID 495 SID 497 SID 498 - $ 11,238 $ 10,687 $ 218 $ 3,425 $ 51,987 $ - - - - - - 7,510 7,516 - - 311 3,847 336 181 45 1 15 678 - - - - - - - - - - - - 79,937 31,765 - - - 109,314 613 4,354 - - - 144 795,686 801,735 558,900 - - 410,007 884,082 $ 856,789 $ 569,632 $ 219 $ 3,751 $ 575,977 $ - $ - $ - $ - $ - $ 280 $ - - - - - - 801,355 808,379 558,900 - (10) 412,764 801,355 808,379 558,900 - (10) 413,044 82,727 48,410 10,732 219 3,761 162,933 82,727 48,410 10,732 219 3,761 162,933 884,082 $ 856,789 $ 569,632 $ 219 $ 3,751 $ 575,977 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-19 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 501 SID 503 SID 505 SID 506 SID 507 SID 508 73,681 $ 25,709 $ 10,819 $ 1,344 $ 2,726 $ 571 $ - - - - - - 2,985 - - - 261 - 310 108 45 5 14 - - - - - - - - - - - - - - - - - - - 160 - - - - - 139,917 43,892 11,600 - 3,966 1,083 217,053 $ 69,709 $ 22,464 $ 1,349 $ 6,967 $ 1,654 $ - $ - $ - $ - $ - $ - $ - - - - - - 142,108 43,892 11,600 - 4,227 1,083 142,108 43,892 11,600 - 4,227 1,083 74,945 25,817 10,864 1,349 2,740 571 74,945 25,817 10,864 1,349 2,740 571 217,053 $ 69,709 $ 22,464 $ 1,349 $ 6,967 $ 1,654 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-20 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 510 SID 511 SID 512 SID 513 SID 514 SID 515 - $ 24,645 $ 41,891 $ 32,572 $ - $ - $ - - - - - - 910 727 9,273 - 660 - 386 104 1,058 137 348 (61) - - - - - - - - - - - - 91,856 - 209,765 - 82,681 - - 216 224 - 84 - 76,618 75,734 723,184 - 37,482 - 169,770 $ 101,426 $ 985,395 $ 32,709 $ 121,255 $ (61) $ - $ - $ - $ - $ - $ - $ - - - - - 14,637 77,246 76,461 731,826 - 37,659 - 77,246 76,461 731,826 - 37,659 14,637 92,524 24,965 253,569 32,709 83,596 (14,698) 92,524 24,965 253,569 32,709 83,596 (14,698) 169,770 $ 101,426 $ 985,395 $ 32,709 $ 121,255 $ (61) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-21 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 517 SID 518 SID 519 SID 520 SID 521 SID 522 9,004 $ 6,710 $ 13,431 $ 2,612 $ 5,370 $ 5,802 $ - - - - - - 2,845 330 159 11,913 32 - 38 28 56 551 22 25 - - - - - - - - - - - - - - - 128,237 - - 234 - - 1,264 - - 14,300 6,188 21,818 1,308,223 - - 26,421 $ 13,256 $ 35,464 $ 1,452,800 $ 5,424 $ 5,827 $ - $ - $ - $ - $ - $ - $ - - - - - - 16,987 6,518 21,977 1,316,308 19 - 16,987 6,518 21,977 1,316,308 19 - 9,434 6,738 13,487 136,492 5,405 5,827 9,434 6,738 13,487 136,492 5,405 5,827 26,421 $ 13,256 $ 35,464 $ 1,452,800 $ 5,424 $ 5,827 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-22 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 525 SID 526 SID 527 SID 530 SID 531 SID 532 - $ - $ 7,205 $ 4,898 $ 10,892 $ 38,299 $ - - - - - - 627 14,224 126 51 139 2,504 857 1,658 30 21 46 161 - - - - - - - - - - - - 203,657 394,134 - - - - - 2,302 16 - 34 355 316,400 1,398,824 8,861 555 24,400 430,375 521,541 $ 1,811,142 $ 16,238 $ 5,525 $ 35,511 $ 471,694 $ - $ - $ - $ - $ - $ - $ - - - - - - 316,420 1,411,247 8,898 607 24,539 432,651 316,420 1,411,247 8,898 607 24,539 432,651 205,121 399,895 7,340 4,918 10,972 39,043 205,121 399,895 7,340 4,918 10,972 39,043 521,541 $ 1,811,142 $ 16,238 $ 5,525 $ 35,511 $ 471,694 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-23 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 533 SID 534 SID 535 SID 536 SID 539 SID 540 40,467 $ 22,044 $ 13,201 $ 49,756 $ 6,117 $ 15,099 $ - - - - - - 216 849 156 726 154 2,356 170 93 56 209 26 360 - - - - - - - - - - - 2,162 - - - - - 70,413 - 270 44 - - 121 167,498 213,829 34,005 367,690 12,250 1,438,805 208,351 $ 237,085 $ 47,462 $ 418,381 $ 18,547 $ 1,529,316 $ - $ - $ - $ - $ - $ - $ - - - - - - 167,714 214,678 34,090 368,416 12,403 1,440,740 167,714 214,678 34,090 368,416 12,403 1,440,740 40,637 22,407 13,372 49,965 6,144 88,576 40,637 22,407 13,372 49,965 6,144 88,576 208,351 $ 237,085 $ 47,462 $ 418,381 $ 18,547 $ 1,529,316 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS JUNE 30, 2008 Page SI-24 ASSETS AND OTHER DEBITS Cash and Investments Taxes Receivable Special Assessments Receivable Interest Receivable Other Receivables Mountain Water Notes Miscellaneous Interfund Receivable Due From Other Governments Deferred Assessments TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenues TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance Reserved For Debt Service TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 541 TOTALS - $ 1,561,252 $ - 177,131 - 130,973 - 18,273 - 181,233 - 2,162 - 1,586,381 - 14,116 85,701 11,174,377 85,701 $ 14,845,898 $ - $ 830 $ - 613,976 85,701 11,576,535 85,701 12,191,341 - 2,654,557 - 2,654,557 85,701 $ 14,845,898 $ ---PAGE BREAK--- COMBINING BALANCE SHEET COMBINING BALANCE SHEET FOR NONMAJOR FOR NONMAJOR GOVERNMENTAL GOVERNMENTAL CAPITAL PROJECT CAPITAL PROJECT FUNDS FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS JUNE 30, 2008 Page SI-25 1997 Open 06 Fire Station 06 Sidewalk 07 Sidewalk 08 Sidewalk Space GO Bond & Curb & Curb & Curb ASSETS AND OTHER DEBITS Cash and Investments 389,627 $ 1,335,962 $ 25,356 $ 8,857 $ - $ Interest Receivable - - 107 38 105 Other Receivables - - - - - Interfund Receivable - - - - - TOTAL ASSETS 389,627 $ 1,335,962 $ 25,463 $ 8,895 $ 105 $ LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable - $ 126,691 $ - $ - $ - $ Interfund Payable - - - - 3,028 Deferred Revenue - - - - - TOTAL LIABILITIES - 126,691 - - 3,028 FUND EQUITY AND OTHER CREDITS Fund Balance 389,627 1,209,271 25,463 8,895 (2,923) TOTAL EQUITY AND OTHER CREDITS 389,627 1,209,271 25,463 8,895 (2,923) TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS 389,627 $ 1,335,962 $ 25,463 $ 8,895 $ 105 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS JUNE 30, 2008 Page SI-26 ASSETS AND OTHER DEBITS Cash and Investments Interest Receivable Other Receivables Interfund Receivable TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenue TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS 09 Sidewalk SID 530 SID 531 SID 532 SID 533 & Curb Construction Construction Construction Construction - $ 3,600 $ - $ 38,196 $ - $ (794) (16) (181) 257 (69) - - - - - - - - - - (794) $ 3,584 $ (181) $ 38,453 $ (69) $ 107,307 $ - $ - $ - $ - $ 188,719 3,712 42,978 - 16,408 - - - - - 296,026 3,712 42,978 - 16,408 (296,820) (128) (43,159) 38,453 (16,477) (296,820) (128) (43,159) 38,453 (16,477) (794) $ 3,584 $ (181) $ 38,453 $ (69) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS JUNE 30, 2008 Page SI-27 ASSETS AND OTHER DEBITS Cash and Investments Interest Receivable Other Receivables Interfund Receivable TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenue TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 534 SID 535 SID 536 SID 538 SID 539 Construction Construction Construction Construction Construction - $ - $ - $ - $ - $ (276) (22) (84) - - - - - - - - - - $ (276) $ (22) $ $ (84) $ - $ - $ - $ - $ - $ 1,698 65,585 5,323 4,885 19,870 - - - - - 1,698 65,585 5,323 4,885 19,870 (1,705) (65,861) (5,345) (4,890) (19,954) (1,705) (65,861) (5,345) (4,890) (19,954) $ (276) $ (22) $ $ (84) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS JUNE 30, 2008 Page SI-28 ASSETS AND OTHER DEBITS Cash and Investments Interest Receivable Other Receivables Interfund Receivable TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenue TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS SID 540 SID 541 SID 542 SID 543 Miller Creek Construction Construction Construction Construction Mitigation 107,621 $ - $ - $ - $ 54,283 $ 468 (460) (540) (296) 229 - - - - - 3,600 - - - - 111,689 $ (460) $ (540) $ (296) $ 54,512 $ - $ 1,922 $ - $ - $ 50,749 $ - 109,314 128,237 70,414 - - - - - - - 111,236 128,237 70,414 50,749 111,689 (111,696) (128,777) (70,710) 3,763 111,689 (111,696) (128,777) (70,710) 3,763 111,689 $ (460) $ (540) $ (296) $ 54,512 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS JUNE 30, 2008 Page SI-29 ASSETS AND OTHER DEBITS Cash and Investments Interest Receivable Other Receivables Interfund Receivable TOTAL ASSETS LIABILITIES, EQUITY AND OTHER CREDITS Accounts Payable Interfund Payable Deferred Revenue TOTAL LIABILITIES FUND EQUITY AND OTHER CREDITS Fund Balance TOTAL EQUITY AND OTHER CREDITS TOTAL LIABILITIES, FUND EQUITY AND OTHER CREDITS Miller Creek Miller Creek Miller Creek Mitigation Mitigation Mitigation (Mc) Totals 108,735 $ - $ 350,995 $ 2,423,232 $ 457 - 1,476 387 - 551,358 - 551,358 - - - 3,600 109,192 $ 551,358 $ 352,471 $ 2,978,577 $ 4,100 $ - $ - $ 290,769 $ - - - 660,171 - 551,358 - 551,358 4,100 551,358 - 1,502,298 105,092 - 352,471 1,476,279 105,092 - 352,471 1,476,279 109,192 $ 551,358 $ 352,471 $ 2,978,577 $ ---PAGE BREAK--- ---PAGE BREAK--- COMBINING STATEMENT OF REVENUE, COMBINING STATEMENT OF REVENUE, EXPENDITURES AND EXPENDITURES AND CHANGES IN FUND BALANCE CHANGES IN FUND BALANCE FOR NONMAJOR FOR NONMAJOR GOVERNMENTAL GOVERNMENTAL SPECIAL REVENUE SPECIAL REVENUE FUNDS FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-30 Park Park Trail Cremain Cemetery Acquisition Enterprise Development Wall & Memorial Care REVENUES Taxes - $ - $ - $ - $ - $ Special Assessments - - - - - Licenses & Permits - - - - - Intergovernmental - - - - - Charges for Services 24,484 26,790 15,000 11,600 77,965 Fines and Forfeitures - - - - - Miscellaneous 7,000 - 26,695 651 - Investment Earnings (1,800) (1,824) (2,366) 1,138 9,085 Total Revenues 29,684 24,966 39,329 13,389 87,050 EXPENDITURES Current General Government - - - - - Public Safety - - - - - Public Works - - - - - Culture and Recreation 5,350 18,367 25,164 - - Community Development - - - - - Capital Outlay 629 - 11,756 1,188 - Total Expenditures 5,979 18,367 36,920 1,188 - Excess (Deficiency) of Revenue Over Expenditures 23,705 6,599 2,409 12,201 87,050 Other Financing Sources (Uses) Operating Transfers In - - - - - Operating Transfers Out - - - - - Sale of Capital Assets - - - - 1,564 Total Other Financing Sources (Uses) - - - - 1,564 Excess (Deficiency) of Revenue Over Expenditures 23,705 6,599 2,409 12,201 88,614 Fund Balance, June 30, 2007 169,572 172,770 223,026 17,730 152,426 Cumulative effect of a change in accounting principle - - - - - Restatement 22,866 - - - - Fund Balance as of June 30, 2007, Restated 192,438 172,770 223,026 17,730 152,426 Fund Balance, June 30, 2008 216,143 $ 179,369 $ 225,435 $ 29,931 $ 241,040 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-31 REVENUES Taxes Special Assessments Licenses & Permits Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Investment Earnings Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Title One Impact Public Employee Cable TV Projects Fee Art Health Insurance Franchise - $ - $ - $ 3,180,327 $ - $ - - - - - - 885,336 - - 513,614 - - - - - - - - - - - - - - - - 47,452 - - 78,176 (8,763) (297) (47,488) (71) 78,176 876,573 47,155 3,132,839 513,543 32,915 - - - 320,934 - - - - - - - - - - - - 19 - - - - - - - - - 11,000 - 21,749 32,915 - 11,019 - 342,683 45,261 876,573 36,136 3,132,839 170,860 - - - - (8,400) - - (3,137,741) (132,612) - - - - - (8,400) - - (3,137,741) (132,612) 36,861 876,573 36,136 (4,902) 38,248 572,377 (532,525) 27,988 (450,234) 124,671 - - - 49,450 - - - - - - 572,377 (532,525) 27,988 (400,784) 124,671 609,238 $ 344,048 $ 64,124 $ (405,686) $ 162,919 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-32 REVENUES Taxes Special Assessments Licenses & Permits Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Investment Earnings Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Drug Building Program Revolving Loan Street Forfeiture Division Income Program Lighting - $ - $ - $ - $ - $ - - - - 288,337 - 1,452,583 - - - - 541 - - - 136 - - - 42,993 - - - - - - 224 6,750 - (619) 482 (3,596) 1,271 (2,819) 42,374 1,453,742 (3,372) 8,021 285,518 - - - - - 20,777 1,099,500 - - - - - - - 281,764 - - - - - - - - 9,501 - 8,596 20,841 - - - 29,373 1,120,341 - 9,501 281,764 13,001 333,401 (3,372) (1,480) 3,754 - - - - - - - - - - - - - - - - - - - - 13,001 333,401 (3,372) (1,480) 3,754 51,017 (181,783) 5,505 46,821 241,137 - - - - 1,260 - - - - - 51,017 (181,783) 5,505 46,821 242,397 64,018 $ 151,618 $ 2,133 $ 45,341 $ 246,151 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-33 REVENUES Taxes Special Assessments Licenses & Permits Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Investment Earnings Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Street Russell Willowwood State Gas Crime Victim Maintenance Park Mtnc Park Mtnc Tax Surcharge - $ - $ - $ - $ - $ 47,165 2,612 3,019 - - - - - - - - - - 1,078,393 - - - - - - - - - - - - - - - (67) 30 2 (25) (82) 47,098 2,642 3,021 1,078,368 (82) - - - - - - - - - - 29,247 - - 15,019 - - - - - - - - - - - - - - 401,540 - 29,247 - - 416,559 - 17,851 2,642 3,021 661,809 (82) - - - - - (32,628) (2,740) (4,854) (564,000) - - - - - - (32,628) (2,740) (4,854) (564,000) - (14,777) (98) (1,833) 97,809 (82) 6,269 (2,799) (144) (72,520) (5,118) 87 - - - - - - - - - 6,356 (2,799) (144) (72,520) (5,118) (8,421) $ (2,897) $ (1,977) $ 25,289 $ (5,200) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-34 REVENUES Taxes Special Assessments Licenses & Permits Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Investment Earnings Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Law Enforcement HIDTA Comm. Devel. Community HOME Grant Grant Program Income Development Grant - $ - $ - $ - $ - $ - - - - - - - - - - 75,888 - 10,579 470,747 276,334 - 91,106 - - - - - - - - - - - - - (433) 20,540 319 174 4,420 75,455 111,646 10,898 470,921 280,754 - - - - - 61,664 526 - - - - - - - - - - - - - - - - 472,554 245,728 11,000 - - - - 72,664 526 - 472,554 245,728 2,791 111,120 10,898 (1,633) 35,026 - - 2,000 - - - - - (2,000) - - - - - - - - 2,000 (2,000) - 2,791 111,120 12,898 (3,633) 35,026 (3,768) 483,055 - (5,224) (7,841) - - - - - - - - - - (3,768) 483,055 - (5,224) (7,841) (977) $ 594,175 $ 12,898 $ (8,857) $ 27,185 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-35 REVENUES Taxes Special Assessments Licenses & Permits Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Investment Earnings Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 ADDI Federal Grants & Grants Transportation Donations TOTALS - $ - $ - $ 3,180,327 $ - - - 341,133 - - - 2,851,533 301,586 548,150 2,762,218 - - 1,668 248,749 - - - 42,993 - - 15,825 104,597 107 1,308 (3,560) 43,242 107 302,894 562,083 9,574,792 - - 2,000 355,849 - - 186,540 1,369,007 - - - 326,030 - - 612 49,512 - - 289,251 1,017,034 - 327,819 43,908 860,026 - 327,819 522,311 3,977,458 107 (24,925) 39,772 5,597,334 - - - 2,000 - - - (3,884,975) - - - 1,564 - - - (3,881,411) 107 (24,925) 39,772 1,715,923 (107) 5,114 425,270 1,462,685 - - - 50,797 - - (43,762) (20,896) (107) 5,114 381,508 1,492,586 - $ (19,811) $ 421,280 $ 3,208,509 $ ---PAGE BREAK--- COMBINING STATEMENT OF REVENUES, COMBINING STATEMENT OF REVENUES, EXPENDITURES AND EXPENDITURES AND CHANGES IN FUND BALANCE CHANGES IN FUND BALANCE FOR NONMAJOR FOR NONMAJOR GOVERNMENTAL GOVERNMENTAL DEBT SERVICE DEBT SERVICE FUNDS FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-36 SID 1998 Safety 1996 Open 1997 Open 1994 City Hall Revolving Bonds Space Space & Fire Bonds REVENUES Taxes - $ 61,836 $ 5,507 $ 2,029 $ 106 $ Special Assessments 15,531 - - - - Investment Earnings 22,618 837 230 16,749 7 Total Revenues 38,149 62,673 5,737 18,778 113 EXPENDITURES Debt Service - 83,860 - - - Total Expenditures - 83,860 - - - Excess (Deficiency) of Revenue Over Expenditures 38,149 (21,187) 5,737 18,778 113 Other Financing Sources (Uses) Operating Transfers Out (289,250) - - - - Issuance of Long Term Debt 76,919 - - - - Total Other Financing Sources (Uses) (212,331) - - - - Excess (Deficiency) of Revenue Over Expenditures (174,182) (21,187) 5,737 18,778 113 Fund Balance, June 30, 2007 954,148 12,606 (8,356) 24,107 94 Cumulative effect of a change in accounting principle - 2,082 4,393 1,497 21 Fund Balance, July 1, 2007, As Restated 954,148 14,688 (3,963) 25,604 115 Fund Balance, June 30, 2008 779,966 $ (6,499) $ 1,774 $ 44,382 $ 228 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-37 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 1993 Fire 2004 Aquatics 2004 2006 2007 Bonds Bond Refunding Fire Station GO Refunding Bonds 193 $ 690,739 $ 400,641 $ 325,133 $ 287,180 $ - - - - - 14 3,841 (2,801) 77,547 (732) 207 694,580 397,840 402,680 286,448 - 611,195 422,650 435,263 411,915 - 611,195 422,650 435,263 411,915 207 83,385 (24,810) (32,583) (125,467) - - - - - - - - - - - - - - - 207 83,385 (24,810) (32,583) (125,467) 178 (189,675) (48,940) (148,003) (24,006) 40 8,922 6,227 4,671 - 218 (180,753) (42,713) (143,332) (24,006) 425 $ (97,368) $ (67,523) $ (175,915) $ (149,473) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-38 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 Sidewalk FY99 Sidewalk FY00 Sidewalk FY01 Sidewalk FY02 Sidewalk & Curb & Curb & Curb & Curb & Curb - $ - $ - $ - $ - $ 29,498 33,366 93,259 36,353 49,039 5,206 337 955 1,622 1,261 34,704 33,703 94,214 37,975 50,300 7,863 35,185 97,335 40,678 57,265 7,863 35,185 97,335 40,678 57,265 26,841 (1,482) (3,121) (2,703) (6,965) - - - - - - - - - - - - - - - 26,841 (1,482) (3,121) (2,703) (6,965) 159,129 - 8,028 39,813 31,700 - 1,404 838 2,005 - 159,129 1,404 8,866 41,818 31,700 185,970 $ (78) $ 5,745 $ 39,115 $ 24,735 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-39 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 FY03 Sidewalk FY04 Sidewalk FY05 Sidewalk FY06 Sidewalk FY07 Sidewalk & Curb & Curb & Curb & Curb & Curb - $ - $ - $ - $ - $ 76,107 93,895 157,510 205,320 150,981 101 2,015 3,245 4,388 1,917 76,208 95,910 160,755 209,708 152,898 103,893 103,005 105,480 170,269 115,483 103,893 103,005 105,480 170,269 115,483 (27,685) (7,095) 55,275 39,439 37,415 - - - - - - - - - 10,995 - - - - 10,995 (27,685) (7,095) 55,275 39,439 48,410 115 48,102 36,724 42,774 - 131 - - 514 - 246 48,102 36,724 43,288 - (27,439) $ 41,007 $ 91,999 $ 82,727 $ 48,410 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-40 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 FY08 Sidewalk SID 495 SID 497 SID 498 SID 501 & Curb - $ - $ - $ - $ - $ - - 590 121,923 47,589 182 6 107 4,547 1,995 182 6 697 126,470 49,584 650 - - 102,400 28,920 650 - - 102,400 28,920 (468) 6 697 24,070 20,664 - - - - - 11,200 - - - - 11,200 - - - - 10,732 6 697 24,070 20,664 - 213 2,582 138,181 54,257 - - 482 682 24 - 213 3,064 138,863 54,281 10,732 $ 219 $ 3,761 $ 162,933 $ 74,945 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-41 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 503 SID 505 SID 506 SID 507 SID 508 - $ - $ - $ - $ - $ 10,600 13,085 2,265 4,175 270 767 367 137 199 11 11,367 13,452 2,402 4,374 281 12,460 11,300 6,342 8,474 - 12,460 11,300 6,342 8,474 - (1,093) 2,152 (3,940) (4,100) 281 - - - - - - - - - - - - - - - (1,093) 2,152 (3,940) (4,100) 281 26,910 8,712 5,289 6,840 290 - - - - - 26,910 8,712 5,289 6,840 290 25,817 $ 10,864 $ 1,349 $ 2,740 $ 571 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-42 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 510 SID 511 SID 512 SID 513 SID 514 - $ - $ - $ - $ - $ 16,669 16,923 114,077 176 12,463 2,468 705 9,035 967 2,432 19,137 17,628 123,112 1,143 14,895 - 15,440 170,907 1,995 10,365 - 15,440 170,907 1,995 10,365 19,137 2,188 (47,795) (852) 4,530 - - - - - - - - - - - - - - - 19,137 2,188 (47,795) (852) 4,530 73,232 22,777 299,266 33,561 78,743 155 - 2,098 - 323 73,387 22,777 301,364 33,561 79,066 92,524 $ 24,965 $ 253,569 $ 32,709 $ 83,596 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-43 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 515 SID 517 SID 518 SID 519 SID 520 - $ - $ - $ - $ - $ - 4,352 2,057 7,398 155,332 (411) 370 236 463 4,132 (411) 4,722 2,293 7,861 159,464 478 8,081 3,317 8,954 160,400 478 8,081 3,317 8,954 160,400 (889) (3,359) (1,024) (1,093) (936) - - - - - - - - - - - - - - - (889) (3,359) (1,024) (1,093) (936) (13,809) 12,714 7,762 14,580 136,687 - 79 - - 741 (13,809) 12,793 7,762 14,580 137,428 (14,698) $ 9,434 $ 6,738 $ 13,487 $ 136,492 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-44 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 521 SID 522 SID 525 SID 526 SID 527 - $ - $ - $ - $ - $ 513 870 52,877 181,381 3,803 163 176 5,960 11,852 134 676 1,046 58,837 193,233 3,937 776 1,121 43,500 181,160 3,743 776 1,121 43,500 181,160 3,743 (100) (75) 15,337 12,073 194 - - - - - - - - - - - - - - - (100) (75) 15,337 12,073 194 5,505 5,902 189,784 386,446 7,134 - - - 1,376 12 5,505 5,902 189,784 387,822 7,146 5,405 $ 5,827 $ 205,121 $ 399,895 $ 7,340 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-45 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 530 SID 531 SID 532 SID 533 SID 534 - $ - $ - $ - $ - $ 734 4,080 58,529 17,395 26,632 124 268 1,382 1,195 672 858 4,348 59,911 18,590 27,304 946 - 52,207 17,230 18,150 946 - 52,207 17,230 18,150 (88) 4,348 7,704 1,360 9,154 - - - - - - - - - - - - - - - (88) 4,348 7,704 1,360 9,154 5,006 6,589 31,339 39,277 13,253 - 35 - - - 5,006 6,624 31,339 39,277 13,253 4,918 $ 10,972 $ 39,043 $ 40,637 $ 22,407 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-46 REVENUES Taxes Special Assessments Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Cumulative effect of a change in accounting principle Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 535 SID 536 SID 539 SID 540 TOTALS - $ - $ - $ - $ 1,773,364 $ 6,919 41,515 2,860 199,377 2,068,288 170 1,346 150 2,419 194,083 7,089 42,861 3,010 201,796 4,035,735 - 31,525 - 118,167 3,820,347 - 31,525 - 118,167 3,820,347 7,089 11,336 3,010 83,629 215,388 - - - - (289,250) - - - - 99,114 - - - - (190,136) 7,089 11,336 3,010 83,629 25,252 6,283 38,243 3,134 4,947 2,590,167 - 386 - - 39,138 6,283 38,629 3,134 4,947 2,629,305 13,372 $ 49,965 $ 6,144 $ 88,576 $ 2,654,557 $ ---PAGE BREAK--- ---PAGE BREAK--- COMBINING STATEMENT OF COMBINING STATEMENT OF REVENUES, EXPENDITURES AND REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE CHANGES IN FUND BALANCE FOR NONMAJOR FOR NONMAJOR GOVERNMENTAL GOVERNMENTAL CAPITAL PROJECT CAPITAL PROJECT FUNDS FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-47 1997 Open New Fire Station 06 Sidewalk 07 Sidewalk 08 Sidewalk Space GO Bond & Curb & Curb & Curb REVENUES Miscellaneous - $ - $ - $ - $ 71,208 $ Investment Earnings (4,299) (35,013) 727 7,561 (11,627) Total Revenues (4,299) (35,013) 727 7,561 59,581 EXPENDITURES General Government - - - 4,734 7,840 Public Works - - - - - Culture and Recreation 2,750 - - - - Capital Outlay 9,884 2,011,081 - 23,911 387,710 Total Expenditures 12,634 2,011,081 - 28,645 395,550 Excess(Deficiency) of Revenue Over Expenditures (16,933) (2,046,094) 727 (21,084) (335,969) Other Financing Sources (Uses) Issuance of Long Term Debt - - - 863,005 520,800 Total Other Financing Sources(Uses) - - - 863,005 520,800 Excess(Deficiency) of Revenues Over Expenditures (16,933) (2,046,094) 727 841,921 184,831 Fund Balance, June 30, 2007 406,560 3,255,365 24,736 (833,026) (187,754) Restatement - - - - - Fund Balance, July 1, 2007, As Restated 406,560 3,255,365 24,736 (833,026) (187,754) Fund Balance, June 30, 2008 389,627 $ 1,209,271 $ 25,463 $ 8,895 $ (2,923) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-48 REVENUES Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Works Culture and Recreation Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 09 Sidewalk SID 530 SID 531 SID 532 SID 533 & Curb Construction Construction Construction Construction 35,181 $ - $ - $ - $ - $ (2,674) (128) (1,231) 1,749 (475) 32,507 (128) (1,231) 1,749 (475) - - - - - - - - - - - - - - - 329,327 - - - - 329,327 - - - - (296,820) (128) (1,231) 1,749 (475) - - - - 16,667 - - - - 16,667 (296,820) (128) (1,231) 1,749 16,192 - - (41,928) 59,570 (32,669) - - - (22,866) - - - (41,928) 36,704 (32,669) (296,820) $ (128) $ (43,159) $ 38,453 $ (16,477) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-49 REVENUES Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Works Culture and Recreation Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 534 SID 535 SID 536 SID 538 SID 539 Construction Construction Construction Construction Construction - $ - $ - $ - $ - $ (82) (1,879) 164 (81) (570) (82) (1,879) 164 (81) (570) - - - - - - - - - - - - - - - - - - 4,847 - - - - 4,847 - (82) (1,879) 164 (4,928) (570) - - 38,768 - - - - 38,768 - - (82) (1,879) 38,932 (4,928) (570) (1,623) (63,982) (44,277) 38 (19,384) - - - - (1,623) (63,982) (44,277) 38 (19,384) (1,705) $ (65,861) $ (5,345) $ (4,890) $ (19,954) $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-50 REVENUES Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Works Culture and Recreation Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 SID 540 SID 541 SID 542 SID 543 Miller Creek Construction Construction Construction Construction Mitigation - $ - $ - $ - $ 149,422 $ 2,711 (3,602) (4,562) (2,175) 657 2,711 (3,602) (4,562) (2,175) 150,079 - - - - - 29,659 36,000 - 3,997 - - - - - - 15,840 41,083 25,572 64,538 146,316 45,499 77,083 25,572 68,535 146,316 (42,788) (80,685) (30,134) (70,710) 3,763 - - - - - - - - - - (42,788) (80,685) (30,134) (70,710) 3,763 154,477 (31,011) (98,643) - - - - - - - 154,477 (31,011) (98,643) - - 111,689 $ (111,696) $ (128,777) $ (70,710) $ 3,763 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-51 REVENUES Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Works Culture and Recreation Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance, July 1, 2007, As Restated Fund Balance, June 30, 2008 Miller Creek Miller Creek TOTALS Mitigation Mitigation (Mc) 107,934 $ 348,410 $ 712,155 $ 1,258 4,061 (49,510) 109,192 352,471 662,645 - - 12,574 - - 69,656 - - 2,750 4,100 3,064,209 4,100 - 3,149,189 105,092 352,471 (2,486,544) - - 1,439,240 - - 1,439,240 105,092 352,471 (1,047,304) - - 2,546,449 - - (22,866) - - 2,523,583 105,092 $ 352,471 $ 1,476,279 $ ---PAGE BREAK--- ---PAGE BREAK--- AGENCY FUNDS AGENCY FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS JUNE 30, 2008 Page SI-52 Balance Balance 07/01/2007 Additions Deletions 06/30/2008 COURT SURCHARGE ASSETS Cash 39,775 $ 86,082 $ 94,161 $ 31,696 $ Interest Receivable 427 $ - 427 - Due From Other Governments 7,274 7,022 7,274 7,022 TOTAL ASSETS 47,476 $ 93,104 $ 101,862 $ 38,718 $ LIABILITIES Accounts Payable 31,056 $ 85,830 $ 94,161 $ 22,725 $ Due to Other Governments 16,420 427 15,993 TOTAL LIABILITIES 47,476 $ 85,830 $ 94,588 $ 38,718 $ COUNTY CLEARING ASSETS Cash 1,399 $ 14,068 $ 13,466 $ 2,001 $ Interest Receivable 15 - 15 0 TOTAL ASSETS 1,414 $ 14,068 $ 13,481 $ 2,001 $ LIABILITIES Accounts Payable 1,088 $ 14,069 $ 13,467 $ 1,690 $ Due to Other Governments 326 - 15 311 TOTAL LIABILITIES 1,414 $ 14,069 $ 13,482 $ 2,001 $ SEWER REBATE ASSETS Cash 51,073 $ 2,383 $ - $ 53,456 $ Interest Receivable 548 - 548 - TOTAL ASSETS 51,621 $ 2,383 $ 548 $ 53,456 $ LIABILITIES Due to Private Parties 51,621 $ 2,383 $ 548 $ 53,456 $ YOUTH PROGRAMS ASSETS Cash 473 $ - $ - $ 473 $ Interest Receivable 5 - 5 - TOTAL ASSETS 478 $ - $ 5 $ 473 $ LIABILITIES Due to Private Parties 478 $ - $ 5 $ 473 $ Continued ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS JUNE 30, 2008 Page SI-53 Balance Balance 07/01/2007 Additions Deletions 06/30/2008 COUNTY PARK BOARD ASSETS Cash 5,500 $ - $ - $ 5,500 $ Interest Receivable 59 59 - TOTAL ASSETS 5,559 $ - $ 59 $ 5,500 $ LIABILITIES Due to Other Governments 5,559 $ - $ 59 $ 5,500 $ ELK HILLS SUBDIVISION ASSETS Cash 3,868 $ - $ - $ 3,868 $ Interest Receivable 42 - 42 - TOTAL ASSETS 3,910 $ - $ 42 $ 3,868 $ LIABILITIES Due to Private Parties 3,910 $ 42 $ 3,868 $ MUNICIPAL COURT RESTITUTION ASSETS Cash 232,332 $ - $ - $ 232,332 $ LIABILITIES Due to Private Parties 232,332 $ - $ - $ 232,332 $ RESIDENTIAL INSPECTION FUND ASSETS Cash - $ 1,600 $ - $ 1,600 $ TOTAL ASSETS - $ 1,600 $ - $ 1,600 $ LIABILITIES Accounts Payable - $ 43 $ - $ 43 $ Due to Private Parties - 1,600 43 1,557 TOTAL LIABILITIES - $ 1,643 $ 43 $ 1,600 $ TOTALS - ALL AGENCY FUNDS ASSETS Cash 334,420 $ 104,133 $ 107,627 $ 330,925 $ Interest Receivable 1,096 - 1,096 0 Due From Other Governments 7,274 7,022 7,274 7,022 TOTAL ASSETS 342,789 $ 111,155 $ 115,997 $ 337,947 $ LIABILITIES Accounts Payable 32,144 $ 99,942 $ 107,628 $ 24,458 $ Due to Other Governments 22,305 - 501 21,804 Due to Private Parties 288,341 3,983 638 291,686 TOTAL LIABILITIES 342,789 $ 103,925 $ 108,767 $ 337,947 $ ---PAGE BREAK--- MAJOR GOVERNMENTAL MAJOR GOVERNMENTAL FUNDS FUNDS BUDGET TO ACTUAL BUDGET TO ACTUAL ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) MAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-54 Capital Improvement Variance - Original and Variance - Original Final Over Final Over Budget Budget Actual (Under) Budget Actual (Under) REVENUES Special Assessments - $ - $ - $ - $ 365,739 $ 395,128 $ 29,389 $ Intergovernmental 316,172 826,096 540,612 (285,484) - - - Miscellaneous - 286,138 286,905 767 - - - Investment Earnings - - (38,479) (38,479) - 14,667 14,667 Total Revenues 316,172 1,112,234 789,038 (323,196) 365,739 409,795 44,056 EXPENDITURES General Government - 100,000 28,840 71,160 - - - Culture and Recreation 61,730 61,730 11,692 50,038 - - - Debt Service 548,720 548,720 512,247 36,473 307,240 307,240 - Capital Outlay 856,643 3,805,591 2,968,554 837,037 - - - Total Expenditures 1,467,093 4,516,041 3,521,333 994,708 307,240 307,240 - Excess(Deficiency) of Revenue (1,150,921) (3,403,807) (2,732,295) 671,512 58,499 102,555 44,056 Over Expenditures Other Financing Sources (Uses) Operating Transfers In 1,150,921 1,158,158 130,500 (1,027,658) - - - Issuance of long term debt - 840,000 840,000 - - - - Proceeds from sale of capital assets - 840,000 839,056 (944) - - - Total Other Financing Sources(Uses) 1,150,921 2,838,158 1,809,556 (1,028,602) - - - Excess(Deficiency) of Revenues Over Expenditures - (565,649) (922,739) (357,090) 58,499 102,555 44,056 Fund Balance, June 30, 2007 (2,024,837) (2,024,837) (2,024,837) - 417,391 417,391 - Restatement 1,070 1,070 Fund Balance as of June 30, 2005, Restated (2,024,837) (2,024,837) (2,024,837) - 417,391 418,461 1,070 Fund Balance, June 30, 2008 (2,024,837) $ (2,590,486) $ (2,947,576) $ (357,090) $ 475,890 $ 521,016 $ 45,126 $ SID 524 ---PAGE BREAK--- ---PAGE BREAK--- NONMAJOR GOVERNMENTAL NONMAJOR GOVERNMENTAL FUNDS FUNDS BUDGET TO ACTUAL BUDGET TO ACTUAL ---PAGE BREAK--- ---PAGE BREAK--- NONMAJOR GOVERNMENTAL NONMAJOR GOVERNMENTAL FUNDS FUNDS BUDGET TO ACTUAL BUDGET TO ACTUAL SPECIAL REVENUE FUNDS SPECIAL REVENUE FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-55 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) REVENUES Taxes - $ - $ - $ - $ - $ - $ Special Assessments - - - - - - Licenses - - - - - - Intergovernmental - - - - - - Charges for Services 76,000 24,484 (51,516) 18,000 26,790 8,790 Fines and Forfeitures - - - - - - Miscellaneous 20,000 7,000 (13,000) - - - Interest - (1,800) (1,800) - (1,824) (1,824) Total Revenues 96,000 29,684 (66,316) 18,000 24,966 6,966 EXPENDITURES Current General Government - - - - - - Public Safety - - - - - - Public Works - - - - - - Culture and Recreation 45,000 5,350 39,650 45,000 18,367 26,633 Community Development - - - - - - Capital Outlay 155,000 629 154,371 75,000 - 75,000 Total Expenditures 200,000 5,979 194,021 120,000 18,367 101,633 Excess (Deficiency) of Revenue Over Expenditures (104,000) 23,705 127,705 (102,000) 6,599 108,599 Other Financing Sources (Uses) Operating Transfers In - - - - - - Operating Transfers Out - - - - - - Sale of Capital Assets - - - - - - Total Other Financing Sources (Uses) - - - - - - Excess (Deficiency) of Revenue Over Expenditures (104,000) 23,705 127,705 (102,000) 6,599 108,599 Fund Balance, June 30, 2007 169,572 169,572 - 172,770 172,770 - Restatement - - Fund Balance as of June 30, 2007, Restated 169,572 169,572 - 172,770 172,770 - Fund Balance, June 30, 2008 65,572 $ 193,277 $ 127,705 $ 70,770 $ 179,369 $ 108,599 $ Continued Park Acquisition Park Enterprise ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-56 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - - - - - - - - 15,000 15,000 9,000 11,600 2,600 - - - - - - 393,000 26,695 (366,305) 2,000 651 (1,349) - (2,366) (2,366) - 1,138 1,138 393,000 39,329 (353,671) 11,000 13,389 2,389 - - - - - - - - - - - - - - - - - - 305,000 25,164 279,836 - - - - - - - - - 295,000 11,756 283,244 4,500 1,188 3,312 600,000 36,920 563,080 4,500 1,188 3,312 (207,000) 2,409 209,409 6,500 12,201 5,701 - - - - - - (15,000) - 15,000 - - - - - - - - - (15,000) - 15,000 - - - (222,000) 2,409 224,409 6,500 12,201 5,701 223,026 223,026 - 17,730 17,730 - - 223,026 223,026 - 17,730 17,730 - 1,026 $ 225,435 $ 224,409 $ 24,230 $ 29,931 $ 5,701 $ Continued Trail Development Cremain Wall ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-57 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - - - - - - - 71,500 77,965 6,465 - - - - - - - - - 500 - (500) 1,696 - (1,696) 3,000 9,085 6,085 15,000 78,176 63,176 75,000 87,050 12,050 16,696 78,176 61,480 - - - 548,296 32,915 515,381 - - - - - - - - - - - - - - - - - - - - - - - - 21,900 - 21,900 - - - 21,900 - 21,900 548,296 32,915 515,381 53,100 87,050 33,950 (531,600) 45,261 576,861 - - - - - - - - - (43,400) (8,400) 35,000 - 1,564 1,564 - - - - 1,564 1,564 (43,400) (8,400) 35,000 53,100 88,614 35,514 (575,000) 36,861 611,861 152,426 152,426 - 572,377 572,377 - 152,426 152,426 - 572,377 572,377 - 205,526 $ 241,040 $ 35,514 $ (2,623) $ 609,238 $ 611,861 $ Continued Cemetery Care Title One Projects ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-58 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - 525,000 885,336 360,336 - - - - - - - - - - - - - - - - - - - - - - - - 18,000 47,452 29,452 - (8,763) (8,763) - (297) (297) 525,000 876,573 351,573 18,000 47,155 29,155 - - - - - - - - - - - - - - - - - - - - 39,000 19 38,981 - - - - - - 525,000 - 525,000 11,000 11,000 - 525,000 - 525,000 50,000 11,019 38,981 - 876,573 876,573 (32,000) 36,136 68,136 - - - - - - - - - - - - - - - - - - - - - - - - - 876,573 876,573 (32,000) 36,136 68,136 (532,525) (532,525) - 27,988 27,988 - (532,525) (532,525) - 27,988 27,988 - (532,525) $ 344,048 $ 876,573 $ (4,012) $ 64,124 $ 68,136 $ Continued Impact Fee Public Art ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-59 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) 3,260,719 $ 3,180,327 (80,392) $ - $ - $ - $ - - - - - - - - - 473,000 513,614 40,614 8,820 - (8,820) - - - - - - - - - - - - - - - - - - - - - - (47,488) (47,488) - (71) (71) 3,269,539 3,132,839 (136,700) 473,000 513,543 40,543 - - - 302,000 320,934 (18,934) - - - - - - - - - - - - - - - - - - - - - - - - - - - 35,000 21,749 13,251 - - - 337,000 342,683 (5,683) 3,269,539 3,132,839 (136,700) 136,000 170,860 34,860 - - - - - - (3,137,742) (3,137,741) 1 (136,000) (132,612) 3,388 - - - - - - (3,137,742) (3,137,741) 1 (136,000) (132,612) 3,388 131,797 (4,902) (136,699) - 38,248 38,248 (450,234) (450,234) - 124,671 124,671 - 49,450 49,450 (450,234) (400,784) 49,450 124,671 124,671 - (318,437) $ (405,686) $ (87,249) $ 124,671 $ 162,919 $ 38,248 $ Continued Employee Health Insurance Cable TV Franchise ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-60 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - 1,362,617 1,452,583 89,966 - - - - 541 541 - - - 2,136 136 (2,000) 260,150 42,993 (217,157) - - - - - - - - - - (619) (619) - 482 482 260,150 42,374 (217,776) 1,364,753 1,453,742 88,989 - - - - - - 96,500 20,777 75,723 1,259,678 1,099,500 160,178 - - - - - - - - - - - - - - - - - - 163,650 8,596 155,054 22,200 20,841 1,359 260,150 29,373 230,777 1,281,878 1,120,341 161,537 - 13,001 13,001 82,875 333,401 250,526 - - - - - - - - - - - - - - - - - - - - - - - - - 13,001 13,001 82,875 333,401 250,526 51,017 51,017 - (181,783) (181,783) - - 51,017 51,017 - (181,783) (181,783) - 51,017 $ 64,018 $ 13,001 $ (98,908) $ 151,618 $ 250,526 $ Continued Drug Forfeiture Building Division ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-61 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 9,000 224 (8,776) 9,000 6,750 (2,250) 1,000 (3,596) (4,596) 1,000 1,271 271 10,000 (3,372) (13,372) 10,000 8,021 (1,979) - - - - - - - - - - - - - - - - - - - - - - - - 8,900 - 8,900 59,000 9,501 49,499 - - - - - - 8,900 - 8,900 59,000 9,501 49,499 1,100 (3,372) (4,472) (49,000) (1,480) 47,520 - - - - - - - - - - - - - - - - - - - - - - - - 1,100 (3,372) (4,472) (49,000) (1,480) 47,520 5,505 5,505 - 46,821 46,821 - 5,505 5,505 - 46,821 46,821 - 6,605 $ 2,133 $ (4,472) $ (2,179) $ 45,341 $ 47,520 $ Continued Program Income Revolving Loan Program ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-62 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 361,378 288,337 (73,041) 51,327 47,165 (4,162) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (2,819) (2,819) - (67) (67) 361,378 285,518 (75,860) 51,327 47,098 (4,229) - - - - - - - - - - - - 361,378 281,764 79,614 - 29,247 (29,247) - - - - - - - - - - - - - - - - - - 361,378 281,764 79,614 - 29,247 (29,247) - 3,754 3,754 51,327 17,851 (33,476) - - - - - - - - - (51,327) (32,628) 18,699 - - - - - - - - - (51,327) (32,628) 18,699 - 3,754 3,754 - (14,777) (14,777) 241,137 241,137 - 6,269 6,269 - 1,260 1,260 87 87 241,137 242,397 1,260 6,269 6,356 87 241,137 $ 246,151 $ 5,014 $ 6,269 $ (8,421) $ (14,690) $ Continued Street Lighting Street Maintenance ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-63 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 2,740 2,612 (128) 2,275 3,019 744 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30 30 - 2 2 2,740 2,642 (98) 2,275 3,021 746 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,740 2,642 (98) 2,275 3,021 746 - - - - - - (2,740) (2,740) - (2,275) (4,854) (2,579) - - - - - - (2,740) (2,740) - (2,275) (4,854) (2,579) - (98) (98) - (1,833) (1,833) (2,799) (2,799) - (144) (144) - (2,799) (2,799) - (144) (144) - (2,799) $ (2,897) $ (98) $ (144) $ (1,977) $ (1,833) $ Continued Willowwood Park Maintenance Russell Park Maintenance ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-64 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - 1,145,356 1,078,393 (66,963) - - - - - - - - - - - - - - - - - - - - - - (25) (25) - (82) (82) 1,145,356 1,078,368 (66,988) - (82) (82) - - - - - - - - - - - - 10,305 15,019 (4,714) - - - - - - - - - - - - - - - 639,195 401,540 237,655 - - - 649,500 416,559 232,941 - - - 495,856 661,809 165,953 - (82) (82) - - - - - - (564,000) (564,000) - - - - - - - - - (564,000) (564,000) - - - - (68,144) 97,809 165,953 - (82) (82) (72,520) (72,520) - (5,118) (5,118) - (72,520) (72,520) - (5,118) (5,118) - (140,664) $ 25,289 $ 165,953 $ (5,118) $ (5,200) $ (82) $ Continued State Gas Tax Crime Victim Surcharge ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-65 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - 167,400 75,888 (91,512) - - - - - - 14,000 91,106 77,106 - - - - - - - - - - - - - (433) (433) 1,000 20,540 19,540 167,400 75,455 (91,945) 15,000 111,646 96,646 - - - - - - 87,400 61,664 25,736 286,200 526 285,674 - - - - - - - - - - - - - - - - - - 80,000 11,000 69,000 - - - 167,400 72,664 94,736 286,200 526 285,674 - 2,791 2,791 (271,200) 111,120 382,320 - - - - - - - - - - - - - - - - - - - - - - - - 2,791 2,791 (271,200) 111,120 382,320 (3,768) (3,768) - 483,055 483,055 - (3,768) (3,768) - 483,055 483,055 - (3,768) $ (977) $ 2,791 $ 211,855 $ 594,175 $ 382,320 $ Continued Law Enforcement Grant HIDTA Grant ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-66 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - 7,940 10,579 2,639 1,625,923 470,747 (1,155,176) - - - - - - - - - - - - - - - - - - - 319 319 - 174 174 7,940 10,898 2,958 1,625,923 470,921 (1,155,002) - - - - - - - - - - - - - - - - - - - - - - - - 7,940 - 7,940 1,625,923 472,554 1,153,369 - - - - - - 7,940 - 7,940 1,625,923 472,554 1,153,369 - 10,898 10,898 - (1,633) (1,633) 2,000 2,000 - - - - - - - (2,000) (2,000) - - - - - - - 2,000 2,000 - (2,000) (2,000) - 2,000 12,898 10,898 (2,000) (3,633) (1,633) - - - (5,224) (5,224) - - - - (5,224) (5,224) - 2,000 $ 12,898 $ 10,898 $ (7,224) $ (8,857) $ (1,633) $ Continued Community Development Program Income Community Development ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-67 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - 531,598 276,334 (255,264) - - - - - - - - - - - - - - - - - - - - - - 4,420 4,420 - 107 107 531,598 280,754 (250,844) - 107 107 - - - - - - - - - - - - - - - - - - - - - - - - 531,598 245,728 285,870 - - - - - - - - - 531,598 245,728 285,870 - - - - 35,026 35,026 - 107 107 - - - - - - - - - - - - - - - - - - 35,026 35,026 - 107 107 (7,841) (7,841) - (107) (107) - (7,841) (7,841) - (107) (107) - (7,841) $ 27,185 $ 35,026 $ (107) $ - $ 107 $ Continued ADDI Grants Home Grant ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR SPECIAL REVENUE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-68 REVENUES Taxes Special Assessments Licenses Intergovernmental Charges for Services Fines and Forfeitures Miscellaneous Interest Total Revenues EXPENDITURES Current General Government Public Safety Public Works Culture and Recreation Community Development Capital Outlay Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Sale of Capital Assets Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - 1,133,955 301,586 (832,369) 1,091,270 548,150 (543,120) - - - 20,367 1,668 (18,699) - - - - - - 96,250 - (96,250) 42,500 15,825 (26,675) - 1,308 1,308 - (3,560) (3,560) 1,230,205 302,894 (927,311) 1,154,137 562,083 (592,054) - - - 3,570 2,000 1,570 - - - 472,117 186,540 285,577 - - - 55,831 - 55,831 - - - 10,036 612 9,424 - - - 629,338 289,251 340,087 1,608,620 327,819 1,280,801 95,346 43,908 51,438 1,608,620 327,819 1,280,801 1,286,238 522,311 763,927 (378,415) (24,925) 353,490 (132,101) 39,772 171,873 77,600 - (77,600) - - - - - - - - - - - - - - - 77,600 - (77,600) - - - (300,815) (24,925) 275,890 (132,101) 39,772 171,873 5,114 5,114 - 425,270 425,270 - (43,762) (43,762) 5,114 5,114 - 425,270 381,508 (43,762) (295,701) $ (19,811) $ 275,890 $ 293,169 $ 421,280 $ 128,111 $ Federal Transportation Grants & Donations ---PAGE BREAK--- NONMAJOR GOVERNMENTAL NONMAJOR GOVERNMENTAL FUNDS FUNDS BUDGET TO ACTUAL BUDGET TO ACTUAL DEBT SERVICE DEBT SERVICE ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-69 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) REVENUES Taxes - $ - $ - $ 61,298 $ 61,836 $ 538 $ Special Assessments - 15,531 15,531 - - - Miscellaneous 35,000 - (35,000) - - - Investment Earnings - 22,618 22,618 - 837 837 Total Revenues 35,000 38,149 3,149 61,298 62,673 1,375 EXPENDITURES Debt Service - - - 83,560 83,860 (300) Total Expenditures - - - 83,560 83,860 (300) Excess (Deficiency) of Revenue Over Expenditures 35,000 38,149 3,149 (22,262) (21,187) 1,075 Other Financing Sources (Uses) Operating Transfers In - - - - - - Operating Transfers Out (318,818) (289,250) 29,568 - - Issuance of Long Term Debt 76,919 76,919 - - - Total Other Financing Sources (Uses) (318,818) (212,331) 106,487 - - - Excess (Deficiency) of Revenue Over Expenditures (283,818) (174,182) 109,636 (22,262) (21,187) 1,075 Fund Balance, June 30, 2007 954,148 954,148 - 12,606 12,606 - Restatement - - - - 2,082 2,082 Fund Balance as of June 30, 2007, Restated 954,148 954,148 - 12,606 14,688 2,082 Fund Balance, June 30, 2008 670,330 $ 779,966 $ 109,636 $ (9,656) $ (6,499) $ 3,157 $ Continued SID Revolving 1998 Safety Bonds ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-70 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ 5,507 $ 5,507 $ - $ 2,029 $ 2,029 $ - - - - - - - - - - - - - 230 230 16,749 16,749 - 5,737 5,737 - 18,778 18,778 - - - - - - - - - - - - - 5,737 5,737 - 18,778 18,778 - - - - - - - - - - - - - - - - - - - - - - - 5,737 5,737 - 18,778 18,778 (8,356) (8,356) - 24,107 24,107 - - 4,393 4,393 - 1,497 1,497 (8,356) (3,963) 4,393 24,107 25,604 1,497 (8,356) $ 1,774 $ 10,130 $ 24,107 $ 44,382 $ 20,275 $ Continued 1996 Open Space 1997 Open Space ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-71 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ 106 $ 106 $ - $ 193 $ 193 $ - - - - - - - - - - - - - 7 7 - 14 14 - 113 113 - 207 207 - - - - - - - - - - - - 113 113 - 207 207 - - - - - - - - - - - - - - - - - - - - - - - 113 113 - 207 207 94 94 - 178 178 - - 21 21 - 40 40 94 115 21 178 218 40 94 $ 228 $ 134 $ 178 $ 425 $ 247 $ Continued 1993 Fire Bonds 1994 City Hall & Fire Bonds ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-72 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) 708,747 $ 690,739 $ (18,008) $ 409,427 $ 400,641 $ (8,786) $ - - - - - - - - - - - - - 3,841 3,841 - (2,801) (2,801) 708,747 694,580 (14,167) 409,427 397,840 (11,587) 611,295 611,195 100 422,750 422,650 100 611,295 611,195 100 422,750 422,650 100 97,452 83,385 (14,067) (13,323) (24,810) (11,487) - - - - - - - - - - - - - - - - - - - - - - 97,452 83,385 (14,067) (13,323) (24,810) (11,487) (189,675) (189,675) - (48,940) (48,940) - - 8,922 8,922 - 6,227 6,227 (189,675) (180,753) 8,922 (48,940) (42,713) 6,227 (92,223) $ (97,368) $ (5,145) $ (62,263) $ (67,523) $ (5,260) $ Continued 2004 Refunding Bonds 2004 Aquatics Bonds ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-73 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) 333,820 $ 325,133 $ (8,687) $ 299,032 $ 287,180 $ (11,852) $ - - - - - - - - - - - - 70,000 77,547 7,547 - (732) (732) 403,820 402,680 (1,140) 299,032 286,448 (12,584) 435,313 435,263 50 411,965 411,915 50 435,313 435,263 50 411,965 411,915 50 (31,493) (32,583) (1,090) (112,933) (125,467) (12,534) - - - - - - - - - - - - - - - - - - - (31,493) (32,583) (1,090) (112,933) (125,467) (12,534) (148,003) (148,003) - (24,006) (24,006) - - 4,671 4,671 - - - (148,003) (143,332) 4,671 (24,006) (24,006) - (179,496) $ (175,915) $ 3,581 $ (136,939) $ (149,473) $ (12,534) $ Continued 2006 Fire Station GO 2007 Refunding Bonds ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-74 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - 29,498 29,498 34,261 33,366 (895) - - - - - - - 5,206 5,206 - 337 337 - 34,704 34,704 34,261 33,703 (558) 7,863 7,863 - 34,885 35,185 (300) 7,863 7,863 - 34,885 35,185 (300) (7,863) 26,841 34,704 (624) (1,482) (858) - - - - - - - - - - - - - - - - - - - - - - (7,863) 26,841 34,704 (624) (1,482) (858) 159,129 159,129 - - - - - - - - 1,404 1,404 159,129 159,129 - - 1,404 1,404 151,266 $ 185,970 $ 34,704 $ (624) $ (78) $ 546 $ Continued Sidewalk & Curb FY99 Sidewalk & Curb ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-75 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 97,947 93,259 (4,688) 39,609 36,353 (3,256) - - - - - - - 955 955 - 1,622 1,622 97,947 94,214 (3,733) 39,609 37,975 (1,634) 97,160 97,335 (175) 40,378 40,678 (300) 97,160 97,335 (175) 40,378 40,678 (300) 787 (3,121) (3,908) (769) (2,703) (1,934) - - - - - - - - - - - - - - - - - - - - - - - - 787 (3,121) (3,908) (769) (2,703) (1,934) 8,028 8,028 - 39,813 39,813 - - 838 838 - 2,005 2,005 8,028 8,866 838 39,813 41,818 2,005 8,815 $ 5,745 $ (3,070) $ 39,044 $ 39,115 $ 71 $ Continued FY00 Sidewalk & Curb FY01 Sidewalk & Curb ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-76 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 52,433 49,039 (3,394) 101,659 76,107 (25,552) - - - - - - - 1,261 1,261 - 101 101 52,433 50,300 (2,133) 101,659 76,208 (25,451) 56,965 57,265 (300) 103,393 103,893 (500) 56,965 57,265 (300) 103,393 103,893 (500) (4,532) (6,965) (2,433) (1,734) (27,685) (25,951) - - - - - - - - - - - - - - - - - - - - - - - - (4,532) (6,965) (2,433) (1,734) (27,685) (25,951) 31,700 31,700 - 115 115 - - - - - 131 131 31,700 31,700 - 115 246 131 27,168 $ 24,735 $ (2,433) $ (1,619) $ (27,439) $ (25,820) $ Continued FY03 Sidewalk & Curb FY02 Sidewalk & Curb ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-77 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 98,586 93,895 (4,691) 107,283 157,510 50,227 - - - - - - - 2,015 2,015 - 3,245 3,245 98,586 95,910 (2,676) 107,283 160,755 53,472 102,755 103,005 (250) 105,230 105,480 (250) 102,755 103,005 (250) 105,230 105,480 (250) (4,169) (7,095) (2,926) 2,053 55,275 53,222 - - - - - - - - - - - - - - - - - - - - - - - (4,169) (7,095) (2,926) 2,053 55,275 53,222 48,102 48,102 - 36,724 36,724 - - - - - - - 48,102 48,102 - 36,724 36,724 - 43,933 $ 41,007 $ (2,926) $ 38,777 $ 91,999 $ 53,222 $ Continued FY05 Sidewalk & Curb FY04 Sidewalk & Curb ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-78 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 174,448 205,320 30,872 114,900 150,981 36,081 - - - - - - - 4,388 4,388 - 1,917 1,917 174,448 209,708 35,260 114,900 152,898 37,998 339,939 170,269 169,670 114,900 115,483 (583) 339,939 170,269 169,670 114,900 115,483 (583) (165,491) 39,439 204,930 - 37,415 37,415 - - - - - - - - - - - - - - - 10,995 10,995 - - - - 10,995 10,995 (165,491) 39,439 204,930 - 48,410 48,410 42,774 42,774 - - - - - 514 514 - - - 42,774 43,288 514 - - - (122,717) $ 82,727 $ 205,444 $ - $ 48,410 $ 48,410 $ Continued FY07 Sidewalk & Curb FY06 Sidewalk & Curb ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-79 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - - - - - - - 182 182 - 6 6 - 182 182 - 6 6 - 650 (650) - - - - 650 (650) - - - - (468) (468) - 6 6 - - - 1,143 - (1,143) - - - - - - 11,200 11,200 - - - - 11,200 11,200 1,143 - (1,143) - 10,732 10,732 1,143 6 (1,137) - - - 213 213 - - - - - - - - - - 213 213 - - $ 10,732 $ 10,732 $ 1,356 $ 219 $ (1,137) $ Continued FY08 Sidewalk & Curb SID 495 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-80 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - 590 590 118,263 121,923 3,660 - - - - - - - 107 107 - 4,547 4,547 - 697 697 118,263 126,470 8,207 - - - 102,400 102,400 - - - - 102,400 102,400 - - 697 697 15,863 24,070 8,207 - - - - - - - - - - - - - - - - - - - - - - - - 697 697 15,863 24,070 8,207 2,582 2,582 - 138,181 138,181 - - 482 482 - 682 682 2,582 3,064 482 138,181 138,863 682 2,582 $ 3,761 $ 1,179 $ 154,044 $ 162,933 $ 8,889 $ Continued SID 498 SID 497 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-81 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 45,200 47,589 2,389 12,097 10,600 (1,497) - - - - - - - 1,995 1,995 - 767 767 45,200 49,584 4,384 12,097 11,367 (730) 28,929 28,920 9 12,460 12,460 - 28,929 28,920 9 12,460 12,460 - 16,271 20,664 4,393 (363) (1,093) (730) - - - - - - - - - - - - - - - - - - - - - - - - 16,271 20,664 4,393 (363) (1,093) (730) 54,257 54,257 - 26,910 26,910 - - 24 24 - - - 54,257 54,281 24 26,910 26,910 - 70,528 $ 74,945 $ 4,417 $ 26,547 $ 25,817 $ (730) $ Continued SID 501 SID 503 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-82 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 13,827 13,085 (742) 2,387 2,265 (122) - - - - - - - 367 367 - 137 137 13,827 13,452 (375) 2,387 2,402 15 11,300 11,300 - 6,342 6,342 - 11,300 11,300 - 6,342 6,342 - 2,527 2,152 (375) (3,955) (3,940) 15 - - - 6,329 - (6,329) - - - - - - - - - - - - - - - 6,329 - (6,329) 2,527 2,152 (375) 2,374 (3,940) (6,314) 8,712 8,712 - 5,289 5,289 - - - - - - - 8,712 8,712 - 5,289 5,289 - 11,239 $ 10,864 $ (375) $ 7,663 $ 1,349 $ (6,314) $ Continued SID 505 SID 506 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-83 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 4,670 4,175 (495) 283 270 (13) - - - - - - - 199 199 - 11 11 4,670 4,374 (296) 283 281 8,474 8,474 - - - - 8,474 8,474 - - - - (3,804) (4,100) (296) 283 281 4,839 - (4,839) - - - - - - - - - - - - - 4,839 - (4,839) - - - 1,035 (4,100) (5,135) 283 281 6,840 6,840 - 290 290 - - - - - - - 6,840 6,840 - 290 290 - 7,875 $ 2,740 $ (5,135) $ 573 $ 571 $ $ Continued SID 507 SID 508 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-84 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 16,855 16,669 (186) 16,719 16,923 204 - - - - - - - 2,468 2,468 - 705 705 16,855 19,137 2,282 16,719 17,628 909 15,440 - 15,440 18,180 15,440 2,740 15,440 - 15,440 18,180 15,440 2,740 1,415 19,137 17,722 (1,461) 2,188 3,649 - - - - - - - - - - - - - - - - - - - - - - - - 1,415 19,137 17,722 (1,461) 2,188 3,649 73,232 73,232 - 22,777 22,777 - - 155 155 - - - 73,232 73,387 155 22,777 22,777 - 74,647 $ 92,524 $ 17,877 $ 21,316 $ 24,965 $ 3,649 $ Continued SID 510 SID 511 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-85 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 124,281 114,077 (10,204) - 176 176 - - - - - - - 9,035 9,035 - 967 967 124,281 123,112 (1,169) - 1,143 1,143 170,607 170,907 (300) 1,995 1,995 - 170,607 170,907 (300) 1,995 1,995 - (46,326) (47,795) (1,469) (1,995) (852) 1,143 - - - 1,136 - (1,136) - - - - - - - - - - - - - - - 1,136 - (1,136) (46,326) (47,795) (1,469) (859) (852) 7 299,266 299,266 - 33,561 33,561 - - 2,098 2,098 - - - 299,266 301,364 2,098 33,561 33,561 - 252,940 $ 253,569 $ 629 $ 32,702 $ 32,709 $ 7 $ Continued SID 513 SID 512 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-86 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 13,170 12,463 (707) - - - - - - - - - - 2,432 2,432 - (411) (411) 13,170 14,895 1,725 - (411) (411) 10,365 10,365 - 478 478 - 10,365 10,365 - 478 478 - 2,805 4,530 1,725 (478) (889) (411) - - - - - - - - - - - - - - - - - - - - - - - - 2,805 4,530 1,725 (478) (889) (411) 78,743 78,743 - (13,809) (13,809) - - 323 323 - - - 78,743 79,066 323 (13,809) (13,809) - 81,548 $ 83,596 $ 2,048 $ (14,287) $ (14,698) $ (411) $ Continued SID 515 SID 514 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-87 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 4,866 4,352 (514) 2,106 2,057 (49) - - - - - - - 370 370 - 236 236 4,866 4,722 (144) 2,106 2,293 187 9,281 8,081 1,200 3,321 3,317 4 9,281 8,081 1,200 3,321 3,317 4 (4,415) (3,359) 1,056 (1,215) (1,024) 191 4,432 - (4,432) 761 - (761) - - - - - - - - - - - - 4,432 - (4,432) 761 - (761) 17 (3,359) (3,376) (454) (1,024) (570) 12,714 12,714 - 7,762 7,762 - - 79 79 - - - 12,714 12,793 79 7,762 7,762 - 12,731 $ 9,434 $ (3,297) $ 7,308 $ 6,738 $ (570) $ Continued SID 518 SID 517 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-88 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 7,476 7,398 (78) 151,274 155,332 4,058 - - - - - - - 463 463 - 4,132 4,132 7,476 7,861 385 151,274 159,464 8,190 8,078 8,954 (876) 210,400 160,400 50,000 8,078 8,954 (876) 210,400 160,400 50,000 (602) (1,093) (491) (59,126) (936) 58,190 297 - (297) - - - - - - - - - - - - - - - 297 - (297) - - - (305) (1,093) (788) (59,126) (936) 58,190 14,580 14,580 - 136,687 136,687 - - - - - 741 741 14,580 14,580 - 136,687 137,428 741 14,275 $ 13,487 $ (788) $ 77,561 $ 136,492 $ 58,931 $ Continued SID 520 SID 519 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-89 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 568 513 (55) 916 870 (46) - - - - - - - 163 163 - 176 176 568 676 108 916 1,046 130 776 776 - 1,121 1,121 - 776 776 - 1,121 1,121 - (208) (100) 108 (205) (75) 130 152 - (152) - - - - - - - - - - - - - - - 152 - (152) - - - (56) (100) (44) (205) (75) 130 5,505 5,505 - 5,902 5,902 - - - - - - - 5,505 5,505 - 5,902 5,902 - 5,449 $ 5,405 $ (44) $ 5,697 $ 5,827 $ 130 $ Continued SID 522 SID 521 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-90 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 44,328 52,877 8,549 183,102 181,381 (1,721) - - - - - - - 5,960 5,960 - 11,852 11,852 44,328 58,837 14,509 183,102 193,233 10,131 43,500 43,500 - 181,160 181,160 - 43,500 43,500 - 181,160 181,160 - 828 15,337 14,509 1,942 12,073 10,131 - - - - - - - - - - - - - - - - - - - - - - - - 828 15,337 14,509 1,942 12,073 10,131 189,784 189,784 - 386,446 386,446 - - - - - 1,376 1,376 189,784 189,784 - 386,446 387,822 1,376 190,612 $ 205,121 $ 14,509 $ 388,388 $ 399,895 $ 11,507 $ Continued SID 525 SID 526 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-91 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 3,845 3,803 (42) 829 734 (95) - - - - - - - 134 134 - 124 124 3,845 3,937 92 829 858 29 3,743 3,743 - 946 946 - 3,743 3,743 - 946 946 - 102 194 92 (117) (88) 29 - - - - - - - - - - - - - - - - - - - - - - - - 102 194 92 (117) (88) 29 7,134 7,134 - 5,006 5,006 - - 12 12 - - - 7,134 7,146 12 5,006 5,006 - 7,236 $ 7,340 $ 104 $ 4,889 $ 4,918 $ 29 $ Continued SID 527 SID 530 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-92 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 4,230 4,080 (150) 53,272 58,529 5,257 - - - - - - - 268 268 - 1,382 1,382 4,230 4,348 118 53,272 59,911 6,639 - - - 51,958 52,207 (249) - - - 51,958 52,207 (249) 4,230 4,348 118 1,314 7,704 6,390 - - - - - - - - - - - - - - - - - - - - - - - - 4,230 4,348 118 1,314 7,704 6,390 6,589 6,589 - 31,339 31,339 - - 35 35 - - - 6,589 6,624 35 31,339 31,339 - 10,819 $ 10,972 $ 153 $ 32,653 $ 39,043 $ 6,390 $ Continued SID 531 SID 532 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-93 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 19,241 17,395 (1,846) 23,505 26,632 3,127 - - - - - - - 1,195 1,195 - 672 672 19,241 18,590 (651) 23,505 27,304 3,799 17,475 17,230 245 18,150 18,150 - 17,475 17,230 245 18,150 18,150 - 1,766 1,360 (406) 5,355 9,154 3,799 - - - - - - - - - - - - - - - - - - - - - - - - 1,766 1,360 (406) 5,355 9,154 3,799 39,277 39,277 - 13,253 13,253 - - - - - - - 39,277 39,277 - 13,253 13,253 - 41,043 $ 40,637 $ (406) $ 18,608 $ 22,407 $ 3,799 $ Continued SID 533 SID 534 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-94 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 7,019 6,919 (100) 40,531 41,515 984 - - - - - - - 170 170 - 1,346 1,346 7,019 7,089 70 40,531 42,861 2,330 - - - 31,713 31,525 188 - - - 31,713 31,525 188 7,019 7,089 70 8,818 11,336 2,518 - - - - - - - - - - - - - - - - - - - - - - - - 7,019 7,089 70 8,818 11,336 2,518 6,283 6,283 - 38,243 38,243 - - - - - 386 386 6,283 6,283 - 38,243 38,629 386 13,302 $ 13,372 $ 70 $ 47,061 $ 49,965 $ 2,904 $ Continued SID 536 SID 535 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR DEBT SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-95 REVENUES Taxes Special Assessments Miscellaneous Investment Earnings Total Revenues EXPENDITURES Debt Service Total Expenditures Excess (Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Operating Transfers In Operating Transfers Out Issuance of Long Term Debt Total Other Financing Sources (Uses) Excess (Deficiency) of Revenue Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 2,548 2,860 312 119,068 199,377 80,309 - - - - - - - 150 150 - 2,419 2,419 2,548 3,010 462 119,068 201,796 82,728 - - - 117,868 118,167 (299) - - - 117,868 118,167 (299) 2,548 3,010 462 1,200 83,629 82,429 - - - - - - - - - - - - - - - - - - - - - - - - 2,548 3,010 462 1,200 83,629 82,429 3,134 3,134 - 4,947 4,947 - - - - - - - 3,134 3,134 - 4,947 4,947 - 5,682 $ 6,144 $ 462 $ 6,147 $ 88,576 $ 82,429 $ SID 539 SID 540 ---PAGE BREAK--- ---PAGE BREAK--- NONMAJOR GOVERNMENTAL NONMAJOR GOVERNMENTAL FUNDS FUNDS BUDGET TO ACTUAL BUDGET TO ACTUAL CAPITAL PROJECT FUNDS CAPITAL PROJECT FUNDS ---PAGE BREAK--- ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-96 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) REVENUES Intergovernmental - $ - $ - $ - $ - $ - $ Miscellaneous - - - - - - Investment Earnings - (4,299) (4,299) - (35,013) (35,013) Total Revenues - (4,299) (4,299) - (35,013) (35,013) EXPENDITURES General Government - - - - - - Public Safety - - - - - - Public Works - - - - - - Culture & Recreation - 2,750 (2,750) - - - Debt Service - - - - - - Capital Outlay 409,111 9,884 399,227 3,255,365 2,011,081 1,244,284 Total Expenditures 409,111 12,634 396,477 3,255,365 2,011,081 1,244,284 Excess(Deficiency) of Revenue Over Expenditures (409,111) (16,933) 392,178 (3,255,365) (2,046,094) 1,209,271 Other Financing Sources (Uses) Issuance of Long Term Debt - - - - - Total Other Financing Sources(Uses) - - - - - - Excess(Deficiency) of Revenues Over Expenditures (409,111) (16,933) 392,178 (3,255,365) (2,046,094) 1,209,271 Fund Balance, June 30, 2007 406,560 406,560 - 3,255,365 3,255,365 - Restatement - - - - - - Fund Balance as of June 30, 2007, Restated 406,560 406,560 - 3,255,365 3,255,365 - Fund Balance, June 30, 2008 (2,551) 389,627 392,178 - 1,209,271 1,209,271 Continued 1997 Open Space Fire Station GO Bond ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-97 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - 727 727 - 7,561 7,561 - 727 727 - 7,561 7,561 - - - - 4,734 (4,734) - - - - - - - - - - - - - - - - - - - - - - - - - - - 23,911 (23,911) - - - - 28,645 (28,645) - 727 727 - (21,084) (21,084) - - - 920,000 863,005 (56,995) - - - 920,000 863,005 (56,995) - 727 727 920,000 841,921 (78,079) 24,736 24,736 - (833,026) (833,026) - - - - - - - 24,736 24,736 - (833,026) (833,026) - 24,736 25,463 727 86,974 8,895 (78,079) Continued 06 Sidewalk & Curb 07 Sidewalk & Curb ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-98 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - 71,208 71,208 - 35,181 35,181 - (11,627) (11,627) - (2,674) (2,674) - 59,581 59,581 - 32,507 32,507 - 7,840 (7,840) - - - - - - - - - - - - - - - - - - - - - - - - - - - 400,000 387,710 12,290 300,000 329,327 (29,327) 400,000 395,550 4,450 300,000 329,327 (29,327) (400,000) (335,969) 64,031 (300,000) (296,820) 3,180 560,000 520,800 (39,200) - - - 560,000 520,800 (39,200) - - - 160,000 184,831 24,831 (300,000) (296,820) 3,180 (187,754) (187,754) - - - - - - - - - - (187,754) (187,754) - - - - (27,754) (2,923) 24,831 (300,000) (296,820) 3,180 Continued 08 Sidewalk & Curb 09 Sidewalk & Curb ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-99 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - (128) (128) - (1,231) (1,231) - (128) (128) - (1,231) (1,231) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (128) (128) - (1,231) (1,231) - - - - - - - - - - - - - (128) (128) - (1,231) (1,231) - - - (41,928) (41,928) - - - - - - - - - - (41,928) (41,928) - - (128) (128) (41,928) (43,159) (1,231) Continued SID 530 SID 531 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-100 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - 1,749 1,749 - (475) (475) - 1,749 1,749 - (475) (475) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,749 1,749 - (475) (475) - - - 16,668 16,667 - - - 16,668 16,667 - 1,749 1,749 16,668 16,192 (476) 59,570 59,570 - (32,669) (32,669) - (22,866) (22,866) - - - - 36,704 36,704 - (32,669) (32,669) - 36,704 38,453 1,749 (16,001) (16,477) (476) Continued SID 533 SID 532 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-101 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - (82) (82) - (1,879) (1,879) - (82) (82) - (1,879) (1,879) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (82) (82) - (1,879) (1,879) - - - - - - - - - - - - (82) (82) - (1,879) (1,879) (1,623) (1,623) - (63,982) (63,982) - - - - - - - (1,623) (1,623) - (63,982) (63,982) - (1,623) (1,705) (82) (63,982) (65,861) (1,879) Continued SID 534 SID 535 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-102 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - 164 164 - (81) (81) - 164 164 - (81) (81) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4,847 (4,847) - - - - 4,847 (4,847) - 164 164 - (4,928) (4,928) 38,768 38,768 - - - - 38,768 38,768 - - - - 38,768 38,932 164 - (4,928) (4,928) (44,277) (44,277) - 38 38 - - - - - - - (44,277) (44,277) - 38 38 - (5,509) (5,345) 164 38 (4,890) (4,928) Continued SID 538 SID 536 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-103 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - (570) (570) - 2,711 2,711 - (570) (570) - 2,711 2,711 - - - - - - - - - - - - - - - - 29,659 (29,659) - - - - - - - - - - - - - - 221,043 15,840 205,203 - - - 221,043 45,499 175,544 - (570) (570) (221,043) (42,788) 178,255 - - - - - - - - - - - - - (570) (570) (221,043) (42,788) 178,255 (19,384) (19,384) - 154,477 154,477 - - - - - - - (19,384) (19,384) - 154,477 154,477 - (19,384) (19,954) (570) (66,566) 111,689 178,255 Continued SID 539 SID 540 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-104 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - - - - - (3,602) (3,602) - (4,562) (4,562) - (3,602) (3,602) - (4,562) (4,562) - - - - - - - - - - - - - 36,000 (36,000) - - - - - - - - - - - - - - - 750,000 41,083 708,917 - 25,572 (25,572) 750,000 77,083 672,917 - 25,572 (25,572) (750,000) (80,685) 669,315 - (30,134) (30,134) - - - - - - - - - - - - (750,000) (80,685) 669,315 - (30,134) (30,134) (31,011) (31,011) - (98,643) (98,643) - - - - - - - (31,011) (31,011) - (98,643) (98,643) - (781,011) (111,696) 669,315 (98,643) (128,777) (30,134) Continued SID 541 SID 542 ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-105 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ - - - 149,422 149,422 - - (2,175) (2,175) - 657 657 - (2,175) (2,175) 149,422 150,079 657 - - - - - - - - - - - - 155,200 3,997 151,203 - - - - - - - - - - - - - - - - 64,538 (64,538) - 146,316 (146,316) 155,200 68,535 86,665 - 146,316 (146,316) (155,200) (70,710) 84,490 149,422 3,763 (145,659) - - - - - - - - - - - - (155,200) (70,710) 84,490 149,422 3,763 (145,659) - - - - - - - - - - - - - - - - - - (155,200) (70,710) 84,490 149,422 3,763 (145,659) Continued SID 543 Miller Creek Mitigation ---PAGE BREAK--- CITY OF MISSOULA, MONTANA COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (BUDGETARY BASIS) NONMAJOR CAPITAL PROJECTS FUNDS FOR THE YEAR ENDED JUNE 30, 2008 Page SI-106 REVENUES Intergovernmental Miscellaneous Investment Earnings Total Revenues EXPENDITURES General Government Public Safety Public Works Culture & Recreation Debt Service Capital Outlay Total Expenditures Excess(Deficiency) of Revenue Over Expenditures Other Financing Sources (Uses) Issuance of Long Term Debt Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues Over Expenditures Fund Balance, June 30, 2007 Restatement Fund Balance as of June 30, 2007, Restated Fund Balance, June 30, 2008 Variance - Variance - Over Over Budget Actual (Under) Budget Actual (Under) - $ - $ - $ - $ - $ - $ 107,934 107,934 - 348,409 348,410 1 - 1,258 1,258 - 4,061 4,061 107,934 109,192 1,258 348,409 352,471 4,062 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4,100 (4,100) - - - - 4,100 (4,100) - - - 107,934 105,092 (2,842) 348,409 352,471 4,062 - - - - - - - - - - - - 107,934 105,092 (2,842) 348,409 352,471 4,062 - - - - - - - - - - - - - - - - - - 107,934 105,092 (2,842) 348,409 352,471 4,062 Miller Creek (Mc) Construction Miller Creek Construction ---PAGE BREAK--- ---PAGE BREAK--- STATISTICAL SECTION STATISTICAL SECTION ---PAGE BREAK--- ---PAGE BREAK--- Sources: Unless otherwise noted the information in these schedules is derived from the Comprehensive Annual Financial Reports for the relevant years. STATISTICAL SECTION This part of the city of Missoula’s Comprehensive Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements note disclosures ad required supplementary information says about the government’s overall financial health. Contents Page Financial Trends SS-1 to 4 These schedules contain trend information to help the reader understand how the government’s financial performance and well-being have changed over time. Revenue Capacity SS-5 to 10 These schedules contain information to help the reader assess the government’s most significant local revenue source, the property tax. Debt Capacity SS-11 to 19 These schedules present information to help the reader assess the affordability of the government’s current levels of outstanding debt and the government’s ability to issue additional debt in the future. Demographic and Economic Information SS-20 to 24 These schedules offer demographic and economic indicators to help the reader understand how the information in the government’s financial Activities take place. Operating Information SS-25 to 32 These schedules contain service and infrastructure data to help the reader understand how the information in the government’s financial report related to the services the government provides and the activities it performs. ---PAGE BREAK--- ---PAGE BREAK--- 2003 2004 2005 2006 2007 2008 Government activities Investment in capital assets, net of related debt 77,040,629 $ 84,425,320 $ 85,219,599 $ 97,908,705 $ 103,905,986 $ 95,716,983 $ Restricted 5,786,102 13,144,514 3,280,061 3,602,376 3,007,558 3,175,573 Unrestricted 7,694,919 6,552,715 18,145,146 11,552,345 17,010,325 18,285,910 Total government activities net assets 90,521,650 $ 104,122,549 $ 106,644,806 $ 113,063,426 $ 123,923,869 $ 117,178,466 $ Business-type activities Investment in capital assets, net of related debt 45,596,659 $ 50,437,434 $ 54,728,019 $ 53,483,675 $ 55,807,247 $ 60,741,529 $ Restricted 560,772 1,307,315 2,525,370 1,303,028 1,320,306 1,303,028 Unrestricted 5,793,401 4,949,789 2,432,543 6,053,027 5,604,871 15,255,848 Total business-type activities net assets 51,950,832 $ 56,694,538 $ 59,685,932 $ 60,839,730 $ 62,732,424 $ 77,300,405 $ Primary Government Investment in capital assets, net related debt 122,637,288 $ 134,862,754 $ 139,947,618 $ 151,392,380 $ 159,713,233 $ 156,458,512 $ Restricted 6,346,874 14,451,829 5,805,431 4,905,404 4,327,864 4,478,601 Unrestricted 13,488,320 11,502,504 20,577,689 17,605,372 22,615,196 33,541,758 Total primary government net assets 142,472,482 $ 160,817,087 $ 166,330,738 $ 173,903,156 $ 186,656,293 $ 194,478,871 $ Source: City of Missoula Page SS-1 Fiscal Year Typically this statistical table presents information on a ten year basis, however, the City converted to the GASB 34 reporting format in FY 03. Thus there is only information presented since that time. CITY OF MISSOULA, MONTANA NET ASSETS BY COMPONENT Last Six Fiscal Years (accrual basis of accounting) ---PAGE BREAK--- Page SS-2 2003 2004 2005 2006 2007 2008 Expenses Governmental activities: General government 4,237,489 $ 4,814,217 $ 5,447,966 $ 7,670,901 $ 7,947,585 $ 7,164,932 $ Public safety 15,267,862 15,774,300 17,596,888 18,706,533 20,685,934 22,864,926 Public works 22,022,343 9,728,383 5,880,778 6,019,601 3,102,523 11,992,483 Public health 1,056,111 1,033,396 1,118,946 1,178,646 1,275,114 1,382,490 Social and economic 105,100 245,802 131,017 138,564 165,849 115,000 Culture and recreation 2,520,258 2,712,280 3,346,471 3,795,635 4,687,707 3,580,622 Housing & development 849,904 669,857 1,494,654 1,391,082 1,416,594 2,189,207 Conservation of natural resources - - 108,599 169,228 296,617 - Miscellaneous 788,987 590,225 910,387 - - - Interest on long-term debt 1,755,702 1,235,533 1,867,190 1,429,993 1,675,186 1,665,936 Total governmental activities expenses 48,603,756 36,803,993 37,902,896 40,500,183 41,253,109 50,955,596 Business-type activities Wastewater treatment 4,071,937 5,400,406 5,904,344 6,084,445 6,239,307 $ 6,716,237 $ Aquatics - - - - - $ 1,412,133 Total business-type activities expenses 4,071,937 5,400,406 5,904,344 6,084,445 6,239,307 8,128,370 Total primary government expenses 52,675,693 $ 42,204,399 $ 43,807,240 $ 46,584,628 $ 47,492,416 $ 59,083,966 $ Program Revenues Government activities Program revenues: Charges for services 6,956,285 $ 8,558,269 $ 7,333,406 $ 7,658,546 $ 9,165,744 $ 9,915,006 $ Operating grants & contributions 1,547,094 5,248,503 2,532,942 2,986,691 1,789,207 1,264,937 Capital grants & contributions 2,227,874 300,948 4,744,999 3,594,855 7,785,160 7,572,822 Total governmental activities program revenues 10,731,253 14,107,720 14,611,347 14,240,092 18,740,111 18,752,765 Business-type activities Charges for services 4,912,232 6,306,775 7,265,855 6,620,032 6,510,110 7,635,175 Capital grants & contributions 4,551,646 1,121,104 1,283,828 827 1,208,512 1,414,448 Total business-type activities program revenues 9,463,878 7,427,879 8,549,683 6,620,859 7,718,622 9,049,623 Total primary governmental program revenues 20,195,131 $ 21,535,599 $ 23,161,030 $ 20,860,951 $ 26,458,733 $ 27,802,388 $ Net (expense) revenue Governmental activities: (37,872,503) $ (22,696,273) $ (23,291,549) $ (26,260,091) $ (22,512,998) $ (32,202,831) $ Business-type activities 5,391,941 2,027,473 2,645,339 536,414 1,479,315 921,254 Total primary government expenses (32,480,562) $ (20,668,800) $ (20,646,210) $ (25,723,677) $ (21,033,683) $ (31,281,577) $ General Revenues and Other Changes In Net Assets Governmental activities Property taxes for general purposes 16,688,381 $ 19,972,703 $ 17,967,026 $ 17,869,988 $ 21,003,491 $ 23,662,238 $ Annexation & developer contributions - 9,964,080 5,772,066 4,935,983 - - State contribution for retirement 2,304,555 - - - - - Intergovernmental revenue 5,040,469 5,191,107 9,048,644 9,789,157 10,078,402 11,370,796 Investment earnings 232,802 381,380 209,628 203,490 695,655 652,572 Gain on sale of capital assets - - - - (54,070) 1,980,388 Miscellaneous 689,427 545,714 684,960 517,530 959,284 1,383,397 Interfund transactions (20,980) 242,188 220,635 224,539 233,065 (64,798) Special Items - - - - - (13,409,208) Total governmental activities 24,934,654 36,297,172 33,902,959 33,540,687 32,915,827 25,575,385 Business-type activities Annexation & developer contributions - - - 775,800 - - Investment earnings 106,838 369,797 299,782 63,237 330,545 168,312 Miscellaneous - 23,773 8,749 2,886 2,337 3,378 Gain or loss on sale of capital assets - - - - 9,860 5,778 Interfund transactions 20,980 (242,188) (220,635) (224,539) (233,065) 64,798 Special Items - - - - - 13,409,208 Total business-type activities 127,818 151,382 87,896 617,384 109,677 13,651,474 Total primary government 25,062,472 $ 36,448,554 $ 33,990,855 $ 34,158,071 $ 33,025,504 $ 39,226,859 $ Change in Net Assets Governmental activities (12,937,849) $ 13,600,899 $ 10,611,410 $ 7,280,596 $ 10,402,829 $ (6,627,446) $ Business-type activities 5,519,759 2,178,855 2,733,235 1,153,798 1,588,992 14,572,728 Total primary government (7,418,090) $ 15,779,754 $ 13,344,645 $ 8,434,394 $ 11,991,820 $ 7,945,282 $ Source: City of Missoula Typically this statistical table presents information on a ten year basis, however, the City converted to the GASB 34 reporting format in FY 03. Thus there is only information presented since that time. Fiscal Year CITY OF MISSOULA, MONTANA CHANGE IN NET ASSETS Last Six Fiscal Years (accrual basis of accounting) ---PAGE BREAK--- 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 General Fund Reserved 353,037 $ 10,928 $ 8,202 $ 6,826 $ - $ 396,988 $ 639,060 $ 588,145 $ 759,606 $ 558,624 $ Unreserved 2,861,811 2,573,821 2,427,933 1,645,837 1,011,574 1,450,347 1,167,446 1,341,370 1,365,053 643,449 Total General Fund $3,214,848 $2,584,749 $2,436,135 $1,652,663 $1,011,574 $1,847,335 $1,806,506 $1,929,515 $2,124,659 $1,202,073 All other governmental funds Reserved $1,476,999 $1,207,657 $1,980,958 $3,602,376 $2,054,790 $2,993,025 $3,280,061 $3,602,376 $3,007,558 $3,175,573 Unreserved, reported in: Special revenue funds 2,117,617 2,749,470 3,057,184 1,939,572 2,952,039 2,458,951 2,124,775 1,939,572 1,462,685 3,208,509 Debt service funds - - 1,980,958 1,939,572 (35,775) - - - - - Capital projects funds 3,263,924 1,758,329 332,583 (5,290,370) (912,811) 7,692,538 7,181,073 (5,290,370) 521,612 (1,471,297) Total other governmental funds $6,858,540 $5,715,456 $7,351,683 $2,191,150 $4,058,243 $13,144,514 $12,585,909 $251,578 $4,991,855 $4,912,785 Source: City of Missoula Fiscal Year CITY OF MISSOULA, MONTANA FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years (modified accrual basis of accounting) Page SS-3 ---PAGE BREAK--- Page SS-4 2003 2004 2005 2006 2007 2008 Revenues Taxes and assessments 16,515,528 $ 18,956,194 $ 19,470,666 $ 22,340,804 $ 24,128,385 $ 25,071,209 $ Licenses and permits 2,287,385 2,318,146 3,165,413 2,839,058 2,927,474 4,054,474 Intergovernmental 11,846,177 11,091,624 14,238,028 13,208,755 13,035,698 12,747,140 Charges for services 2,336,424 2,700,372 3,298,503 3,625,225 4,540,977 3,911,813 Fines and forfeitures 795,329 857,707 1,223,864 1,178,920 1,421,588 1,215,955 Miscellaneous 420,425 520,337 309,781 949,537 975,534 1,699,515 Interest earnings 231,951 449,387 226,538 192,758 538,418 584,698 Total revenues 34,433,219 36,893,767 41,932,793 44,335,057 47,568,074 49,284,804 Expenditures General government 4,005,055 4,718,579 4,501,423 6,334,244 5,745,356 6,515,738 Public safety 14,588,393 15,420,765 16,957,739 18,138,794 19,880,732 21,637,023 Public works 4,929,802 5,239,404 5,765,617 5,803,509 6,161,928 6,670,377 Public health 1,030,253 1,008,837 1,096,344 1,152,195 1,249,223 1,364,663 Social and economic 105,100 100,706 105,238 108,395 132,897 115,000 Culture and recreation 2,206,720 2,468,401 2,719,381 3,011,054 3,676,479 3,118,438 Community development 709,847 681,088 2,129,109 2,379,741 2,202,392 2,041,498 Miscellaneous 788,987 795,362 910,387 - 947,093 - Debt service - principal 2,734,737 4,369,674 2,432,981 2,783,319 6,127,301 2,973,898 Debt service - interest 1,044,657 1,126,448 1,428,517 1,357,860 1,671,508 1,665,936 Capital outlay 6,800,610 6,514,225 4,980,661 18,496,532 9,116,240 7,575,647 Total expenditures 38,944,161 42,443,489 43,027,397 59,565,643 56,911,149 53,678,218 Excess of revenues over (under) expenditures (4,510,942) (5,549,722) (1,094,604) (15,230,586) (9,343,075) (4,393,414) Other financing sources (uses) Transfers in 4,864,269 5,474,240 4,833,042 5,338,325 7,003,875 4,551,456 Transfers out (4,898,223) (5,283,345) (4,675,148) (5,170,043) (6,821,059) (4,665,834) Payments to Refunded Bond Escrow Agent - - - - (2,037,769) Refunding Bond Proceeds - - - - 4,355,000 Proceeds from sale of capital assets 48,921 228,088 46,347 100 - 840,620 Proceeds from long term debt 2,461,724 18,759,366 994,921 2,850,881 11,574,351 2,378,354 Total other financing sources (uses) 2,476,691 19,178,349 1,199,162 3,019,263 14,074,398 3,104,596 Net change in fund balances (2,034,251) $ 13,628,627 $ 104,558 $ (12,211,323) $ 4,731,323 $ (1,288,818) $ Debt service as a percentage of non-capital expenditures 13% 18% 15% 12% 23% 12% Source: City of Missoula CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS Six Fiscal Years (modified accrual basis of accounting) Typically this statistical table presents information on a ten year basis, however, the City converted to the GASB 34 reporting format in FY 03. Thus there is only information presented since that time. CITY OF MISSOULA, MONTANA Fiscal Year ---PAGE BREAK--- Page SS-5 Taxing Authority 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 City of Missoula 139.84 146.63 159.15 165.19 169.48 176.32 182.57 196.39 204.73 212.23 County of Missoula County Wide 83.15 89.24 100.15 117.80 123.97 122.79 127.12 129.11 133.64 136.19 County Wide Schools 89.72 93.52 99.86 96.56 100.75 108.34 101.59 102.26 104.26 104.04 Total 172.87 182.76 200.01 214.36 224.72 231.13 228.71 231.37 237.90 240.23 District Schools School District One 135.31 138.20 136.72 149.04 153.24 159.27 158.29 150.66 150.26 145.45 High Schools 65.32 66.17 71.28 77.30 84.65 84.27 83.16 83.40 82.21 77.05 Total 200.63 204.37 208.00 226.34 237.89 243.54 241.45 234.06 232.47 222.50 State Levies University 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 Welfare 9.00 9.00 9.00 - - - - - Education Foundation 40.00 40.00 40.00 40.00 40.00 40.00 40.00 40.00 40.00 40.00 Total 55.00 55.00 55.00 46.00 46.00 46.00 46.00 46.00 46.00 46.00 Urban Transportation District 9.82 10.37 10.94 11.31 11.66 11.93 12.23 12.38 13.91 14.62 Total Levy on City Residents 578.16 599.13 633.10 663.20 689.75 708.92 710.96 720.20 735.01 735.58 Other Levies of Interest County Only 21.13 21.91 24.48 24.54 27.32 25.33 33.97 31.83 34.50 35.68 Missoula Rural Fire 57.02 62.14 71.27 73.97 74.25 77.37 78.26 79.64 80.89 91.13 Source: County of Missoula Accounting Office Note: MRA doesn't get University mills. CITY OF MISSOULA, MONTANA OVERLAPPING PROPERTY TAX LEVIES Last Ten Fiscal Years ---PAGE BREAK--- Page SS-6 Ratio of Total Estimated Taxable Value Assessed Value to Taxable Value Fiscal Market City Without Total Estimated Tax Increment Mill Year Value Tax Increment Market Value Districts Levy 1999 1,859,622,977 $ 74,954,024 $ 4.03% 3,760,638 $ 137.62 2000 1,985,298,106 77,024,392 3.88% 3,737,101 139.84 2001 2,111,624,637 76,698,959 3.63% 1,964,011 159.15 2002 2,247,822,357 78,961,906 3.51% 2,317,883 165.19 2003 2,403,250,454 82,076,104 3.42% 2,652,385 169.48 2004 2,636,857,585 84,586,453 3.21% 3,603,495 176.30 2005 2,805,424,077 91,358,406 3.26% 3,844,866 182.57 2006 2,901,638,641 93,533,579 3.22% 1,446,959 196.39 2007 3,195,587,513 99,332,558 3.11% 1,806,159 204.73 2008 3,369,424,088 103,000,436 3.06% 1,909,938 212.23 Source: Missoula County Assessors Office CITY OF MISSOULA, MONTANA ESTIMATED MARKET VALUE, TAXABLE VALUE AND MILL LEVY Last Ten Fiscal Years ---PAGE BREAK--- Fiscal Year Real Property Equipment & Fixtures Electric, Airline & Telecommuni cations Railroad Electric, Phone Co- ops & Pollution Control Other Tax Increment District Total Taxable Assessed Value 1998 63,893 $ 7,028 $ 6,889 $ 647 $ 227 $ 29 $ (3,876) $ 74,837 $ 1999 65,974 $ 6,482 $ 7,409 $ 615 $ 249 $ 32 $ (3,737) $ 77,024 $ 2000 63,363 6,579 7,862 682 275 32 (3,464) 75,329 2001 68,232 3,561 5,970 568 307 25 (1,964) 76,699 2002 70,987 3,745 5,528 521 347 16 (2,315) 78,829 2003 74,393 4,145 5,313 389 399 8 (2,612) 82,035 2004 78,436 4,362 4,902 372 363 (246) (3,603) 84,586 2005 81,061 4,529 4,999 363 380 27 (3,845) 87,514 2006 84,231 4,697 5,291 346 379 61 (1,471) 93,534 2007 91,045 4,474 7,475 313 382 - (1,806) 101,883 *Property in the City is assessed at actual value; therefore, the assessed values are equal to actual value. Source: Missoula County Assessor's Office and Department of Revenue *This table presents taxable property assessments at values calculated after certified values were received from the Department of Revenue. These values will not articulate to certified values. 2008 Values were not available at time of publication CITY OF MISSOULA, MONTANA ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Fiscal Years (in thousands of dollars) Page SS-7 ---PAGE BREAK--- % Change Fiscal Assessed Value Value Value Value Over Last Year City Property Number Estimate Number Estimate Number Estimate Year 1999 1,859,622,977 $ 274 30,079,840 $ 422 16,163,492 $ 2,486 117,814,791 $ 8.39% 2000 1,985,298,106 288 29,407,617 181 8,841,540 1,895 120,150,936 1.98% 2001 2,111,624,637 285 28,288,095 282 12,361,447 1,694 135,701,353 12.94% 2002 2,247,822,357 365 34,135,109 335 13,880,421 1,930 102,287,782 -24.62% 2003 2,403,250,454 419 38,976,115 1,111 47,410,182 2,180 193,963,792 89.63% 2004 2,636,857,585 367 31,611,232 359 15,081,537 1,663 109,963,100 -43.31% 2005 2,805,424,077 457 38,970,878 194 8,157,757 1,677 113,217,490 2.96% 2006 2,901,638,641 374 35,521,132 79 4,393,527 1,494 99,855,627 -11.80% 2007 3,195,587,513 303 31,466,438 125 5,675,665 1,613 89,139,379 -21.27% 2008 3,369,424,088 229 21,554,764 138 8,566,097 1,530 133,165,009 33.36% Source: City of Missoula Building Inspection Office and Missoula County Assessor Page SS-8 CITY OF MISSOULA, MONTANA Last Ten Fiscal Years New Construction All Construction PROPERTY VALUE AND NEW CONSTRUCTION Single Family Multi-Family ---PAGE BREAK--- Page SS-9 Taxpayer Taxable Assessed Value Rank Percentage of City Taxable Assessed Value Taxable Assessed Value Rank Percentage of City Taxable Assessed Value NORTHWESTERN CORPORATION 3,450,847 $ 1 3.35% QWEST COMMUNICATIONS 2,708,646 2 2.63% MOUNTAIN WATER COMPANY 936,523 3 0.91% 648,336 $ 5 0.84% SOUTHGATE MALL 866,316 4 0.84% 808,544 3 1.05% ST PATRICK HOSPITAL CORP 741,311 5 0.72% GATEWAY LIMITED PARTNERSHIP 735,500 6 0.71% 548,470 6 0.76% WW HOLDING CO INC/ALLTELL CORP 456,539 7 0.44% MOUNTAIN STATES LEASING 433,899 8 0.42% WESTERN HOSPITALITY GROUP 384,007 9 0.37% MONTANA RAIL LINK INC 321,537 10 0.31% 683,006 4 0.89% MONTANA POWER COMPANY 2,693,624 1 3.50% US WEST 18,606,056 2 2.34% AT&T COMMUNICATIONS 272,331 7 0.35% WC LEASING CORPORATION 228,240 8 0.30% TOUCH AMERICA 244,811 9 0.32% CREEKSIDE APARTMENTS 234,687 10 0.30% Total 11,035,125 $ 10.71% 24,968,105 $ 10.65% Source: Department of Revenue - Missoula County Finance Office CITY OF MISSOULA, MONT ANA PRINCIPAL PROPERTY TAXPAYERS Current and Nine Years Ago 2008 1999 ---PAGE BREAK--- Fiscal Year Ended June 30th Total Tax Levy for Fiscal Year Amount Percentage of Levy Collections in Subsequent Years Amount Percentage of Levy Percentage of Delinquencies 1999 10,770,977 $ 9,551,945 $ 88.68% 1,048,989 $ 10,600,934 $ 98.42% 11.32% 2000 11,045,658 10,137,825 91.78% 401,463 10,539,288 95.42% 8.22% 2001 12,206,430 12,041,824 98.65% 371,989 12,413,813 101.70% 1.35% 2002 13,043,228 12,359,529 94.76% 399,678 12,759,207 97.82% 5.24% 2003 13,897,789 13,233,442 95.22% 387,103 13,620,545 98.01% 4.78% 2004 14,911,332 14,943,191 100.21% 281,762 15,224,953 102.10% -0.21% 2005 15,976,238 15,900,407 99.53% 208,969 16,109,376 100.83% 0.47% 2006 18,368,735 17,935,902 97.64% 366,878 18,302,780 99.64% 2.36% 2007 19,967,941 19,806,028 99.19% 220,890 20,026,918 100.30% 0.81% 2008 21,454,303 20,926,264 97.54% 56,389 20,982,653 97.80% 2.46% Source: City of Missoula Page SS-10 Collected within the Fiscal Year of the Levy Total Collections to Date CITY OF MISSOULA, MONTANA PROPERTY TAX LEVIES AND COLLECTIONS GOVERNMENTAL FUND TYPES Last Ten Fiscal Years ---PAGE BREAK--- Page SS-11 The following general obligation debt ratios are provided as of June 30, 2007 Market Valuation 3,369,424,088 $ Market Valuation (Less Tax Increment) 3,367,514,150 $ Taxable Valuation 104,910,374 $ Taxable Valuation (Less Tax Increment) 103,000,436 $ Population 69,709 Direct Debt Per Capita 250 $ Direct and Overlapping Debt Per Capita 664 $ Direct Debt to Market Valuation 0.52% Direct and Overlapping Debt to Market Valuation 1.37% Direct Debt to Taxable Valuation 16.68% Direct and Overlapping Debt to Taxable Valuation 44.18% Market Valuation per Capita 48,336 $ Taxable Valuation per Capita 1,478 $ Source: City of Missoula GENERAL OBLIGATION DEBT RATIOS REQUIRED CONTINUING DISCLOSURE CITY OF MISSOULA, MONTANA ---PAGE BREAK--- Page SS-12 AS OF JUNE 30, 2008 Gross Debt Less: Debt Service Funds Net Direct Debt General Obligation Debt Supported by Taxes 17,500,000 $ (44,505) $ 17,455,495 $ Debt Supported by General Fund 5,360,000 - 5,360,000 Revenue Debt (Sewer) 15,818,231 ( b ) 15,818,231 Revenue Debt (TIF and Parking) 7,100,000 ( c ) 7,100,000 Subtotal of Direct Debt 45,778,231 $ 45,733,726 $ Debt Service funds are as of June 30th. Includes money to pay both principal and interest. Monies are transferred from the Sewer Enterprise Fund to make the principal and interest payments on these bonds. Monies from the Missoula Parking Commission and tax increment revenues are used to make principal and interest payments on these bonds. G.O. Debt as of June 30, 2008 Percentage^ Amount Taxing Unit: Missoula County Elementary School District 2,225,000 $ 52.85% 1,175,884 $ Missoula County High School District 15,105,000 91.03% 13,749,777 Hellgate Elementary School District 14,285,000 15.16% 2,164,898 Target Range Elementary School District 525,000 4.55% 23,885 Missoula County 12,107,000 96.93% 11,735,721 Subtotal of Indirect Debt 44,247,000 $ 28,850,165 $ Total of Direct and Indirect Debt 74,583,891 $ G.O. Net Direct Debt G.O. Indirect & Net Direct Debt Current Year Estimated Value 0.52% 1.37% Per Capita 250 $ 664 $ *Includes general obligation debt and debt supported by general fund revenues, excludes revenue supported debt. Source: City of Missoula Source: Missoula County Assessors Office Source: Local Schools ^The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the county's taxable assessed value that is within the government's boundaries and dividing it by the county's total taxable assessed value. Debt Ratios* SUMMARY OF DIRECT DEBT, INDIRECT DEBT AND DEBT RATIOS REQUIRED CONTINUING DISCLOSURE Debt Applicable to Tax Capacity of City Summary of Direct Debt Summary of Indirect Debt ---PAGE BREAK--- 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Debt Limit 21,567 $ 21,476 $ 33,942 $ 36,289 $ 39,817 $ 42,362 $ 43,815 $ 48,253 $ 84,236 $ 85,308 $ Total net debt applicable to limit 11,120 10,455 9,754 9,279 8,438 15,995 15,566 14,511 18,972 17,944 Legal debt Margin 10,447 $ 11,021 $ 24,188 $ 27,010 $ 31,379 $ 26,367 $ 28,249 $ 33,742 $ 65,264 $ 67,364 $ Total net debt applicable to the limit as a percentage of debt limit 51.56% 48.68% 28.74% 25.57% 21.19% 37.76% 35.53% 30.07% 22.52% 21.03% Legal Debt Margin Calculation for Fiscal Year 2008 Assessed Value of Taxable Property as Ascertained by the last Assessment for Taxes 3,412,313 $ Debt Limit 2.5% of Assessed Value 2.50% General Obligation Debt Limit 85,308 Less: Outstanding General Obligation Debt, June 30, 2008 17,944 Total net debt applicable to limit 67,364 Legal Debt Margin 67,364 $ Source: City of Missoula Source: Missoula County Assessors Office Page SS-13 Montana Statute (7-7-4201) prescribes a legal debt limit of 2.5% of the total assessed value of taxable property, which was increased in the FY 2007 legislature from 1.51%. Fiscal Year CITY OF MISSOULA, MONTANA LEGAL DEBT MARGIN INFORMATION Last Ten Fiscal Years (amounts expressed in thousands) ---PAGE BREAK--- Business- Type Activities Fiscal Year General Obligation Bonds Limited Obligation Bonds Special Assessment Bonds State Board of Investment Loans Sidewalk and Curb Warrants Revenue Bonds Total Primary Government Total Personal Per capita Income* Total Population Debt as a Percentage of Personal Income Debt Per Capita Debt as a Percentage of Market Value 1999 10,241,188 $ - $ 8,550,934 $ 878,792 $ 1,006,720 $ 390,000 $ 21,067,634 $ 22,564 $ 52,239 1.79% 403 0.88% 2000 9,794,077 - 8,705,000 661,136 857,258 250,000 20,267,471 24,361 57,053 1.46% 355 0.84% 2001 9,319,628 160,000 8,504,698 434,858 670,865 1,700,000 20,790,049 26,296 58,224 1.36% 357 0.87% 2002 8,822,432 1,550,000 11,457,860 456,971 478,911 5,007,021 27,773,195 26,973 59,396 1.73% 468 1.16% 2003 8,302,060 1,495,000 12,928,173 236,290 327,830 8,693,367 31,982,720 27,815 60,567 1.90% 528 1.33% 2004 15,895,000 1,440,000 14,649,201 100,179 316,409 15,215,987 47,616,776 29,004 61,738 2.66% 771 1.81% 2005 15,020,000 1,380,000 14,226,402 546,373 228,628 16,586,138 47,987,541 30,101 62,910 2.53% 763 1.71% 2006 14,070,000 1,315,000 15,594,203 440,972 120,923 17,079,212 48,620,310 31,535 64,081 2.41% 759 1.68% 2007 18,720,000 4,760,000 15,455,681 252,453 120,923 16,797,231 56,106,288 32,386 64,118 2.70% 875 1.76% 2008 17,500,000 5,360,000 15,510,165 222,425 120,923 15,818,231 54,531,744 33,261 69,709 2.35% 782 1.62% Source: City of Missoula Source: Missoula County Assessors Office Source: Montana Department of Labor - Research and Analysis Bureau *2006 is the most recent data available. Succeeding years are City estimates. Governmental Activities CITY OF MISSOULA, MONTANA RATIO OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years Page SS-14 ---PAGE BREAK--- Page SS-15 Fiscal Year General Obligation Bonds Total Taxable Assessed Valuation Percentage of Taxable Value of Property Estimated Population Per Capita 1999 10,241 $ 74,954 $ 14% 52,239 196.04 $ 2000 9,794 77,024 13% 57,053 171.66 2001 9,320 76,699 12% 58,224 160.07 2002 8,822 78,962 11% 59,396 148.53 2003 8,302 82,076 10% 60,567 137.07 2004 15,895 84,586 19% 61,738 257.46 2005 15,020 91,358 16% 62,910 238.75 2006 14,070 93,534 15% 64,081 219.57 2007 18,720 99,333 19% 65,311 286.63 2008 17,500 103,000 17% 69,709 251.04 Source: City of Missoula Source: Missoula County Assessors Office Source: Bureau of Economic Analysis CITY OF MISSOULA, MONTANA RATIO OF ANNUAL DEBT SERVICE REQUIREMENTS FOR Last Ten Fiscal Years Amounts expressed in thousands, except population and per capita ---PAGE BREAK--- Fiscal Year Gross Revenue Direct Operating Expenses Net Revenue Available for Debt Principal Interest Total Current Year Coverage Max Annual Debt Service Coverage 1999 2,880,073 $ 2,038,323 $ 841,750 $ 139,000 $ 97,170 $ 236,170 $ 356% 221% 2000 3,663,812 2,356,463 1,307,349 206,000 175,576 381,576 343% 301% 2001 4,383,126 2,554,575 1,828,551 247,000 206,338 453,338 403% 421% 2002 5,137,531 3,266,074 1,871,457 289,000 188,532 477,532 392% 390% City Operating* 2003 4,955,880 2,555,053 2,400,827 489,162 231,961 721,123 333% 379% Legal Calculation 2003 6,234,505 2,555,053 3,679,452 489,162 231,961 721,123 510% 580% City Operating* 2004 5,274,686 3,036,426 2,238,260 689,000 503,234 1,192,234 188% 151% Legal Calculation 2004 6,308,650 3,036,426 3,272,224 689,000 503,234 1,192,234 274% 221% City Operating* 2005 5,550,626 3,151,625 2,399,001 797,233 655,716 1,452,949 165% 162% Legal Calculation 2005 7,265,854 3,151,625 4,114,229 797,233 655,716 1,452,949 283% 278% City Operating* 2006 5,665,706 3,263,652 2,402,054 894,751 660,341 1,555,092 154% 135% Legal Calculation 2006 6,620,032 3,263,652 3,356,380 894,751 660,341 1,555,092 216% 189% City Operating* 2007 5,975,248 3,492,891 2,482,357 941,000 682,728 1,623,728 153% 150% Legal Calculation 2007 6,778,103 3,492,891 3,285,211 941,000 682,728 1,623,728 202% 199% City Operating* 2008 6,191,033 3,900,755 2,290,278 979,000 641,677 1,620,677 141% 141% Legal Calculation 2008 6,848,299 3,900,755 2,947,544 979,000 641,677 1,620,677 182% 181% *City baseline does not include sewer development fees. Legal calculation is based on revenue bond covenant details, section 2.3. Information for both calculations is only available from 2003-present. Does not include depreciation or bond interest. Net revenues divided by the maximum debt payment due in any future calendar year. Source: City of Missoula Annual Financial Reports Debt Service Requirements CITY OF MISSOULA, MONTANA PLEDGED-REVENUE COVERAGE WASTEWATER FACILITY REVENUE BONDS Last Ten Fiscal Years Page SS-16 ---PAGE BREAK--- Page SS-17 Revolving Principal Fiscal Fund Cash Amount Year Balance of Bonds Percentage 1999 792,077 $ 8,550,934 $ 9.3% 2000 608,463 8,705,000 7.0% 2001 718,011 8,504,698 8.4% 2002 794,248 11,457,860 6.9% 2003 778,049 12,928,174 6.0% 2004 955,785 14,357,629 6.7% 2005 808,460 14,226,402 5.7% 2006 889,718 15,594,203 5.7% 2007 954,148 15,455,681 6.2% 2008 779,966 15,510,165 5.0% Source: City of Missoula REVOLVING FUND YEAR-END BALANCES Last Ten Fiscal Years CITY OF MISSOULA, MONTANA REQUIRED CONTINUING DISCLOSURE ---PAGE BREAK--- 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Beginning Balance 717,331 $ 792,077 $ 608,463 $ 718,011 $ 794,248 $ 778,049 $ 955,785 $ 808,460 $ 889,718 $ 954,148 $ Disbursements/Transfers 74,746 (183,614) 109,548 76,237 (16,199) 177,736 (147,325) 81,258 64,430 (174,182) Ending Balance 792,077 $ 608,463 $ 718,011 $ 794,248 $ 778,049 $ 955,785 $ 808,460 $ 889,718 $ 954,148 $ 779,966 $ Assets: Cash 761,206 $ 537,639 $ 687,189 $ 765,477 $ 742,524 $ 852,799 $ 808,460 $ 885,738 $ 928,632 $ 776,343 $ Due from SID Funds 28,730 70,824 30,822 28,771 35,525 72,062 - - - - Other Receivables 385,078 365,984 348,414 330,525 310,660 320,488 227,828 218,910 222,281 184,856 Total Assets 1,175,014 $ 974,447 1,066,425 1,124,773 1,088,709 1,245,349 1,036,288 1,104,648 1,150,913 961,200 Liabilities: Deferred Revenue 382,937 $ 365,984 348,414 330,525 310,660 289,564 227,828 214,930 196,765 181,233 Total Liabilities 382,937 $ 365,984 348,414 330,525 310,660 289,564 227,828 214,930 196,765 181,233 Total Fund Balance 792,077 $ 608,463 $ 718,011 $ 794,248 $ 778,049 $ 955,785 $ 808,460 $ 889,718 $ 954,148 $ 779,966 $ Source: City of Missoula CITY OF MISSOULA, MONTANA REVOLVING FUND CHANGES IN FUND BALANCE REQUIRED CONTINUING DISCLOSURE Last Ten Years Fiscal Year Page SS-18 ---PAGE BREAK--- Fiscal Year Estimated City Population County Population Total Personal Income Per Capita Income State Unemployment Rate Unemployment Rate 1999 52,239 94,791 2,138,904,000 $ 22,564 $ 5.3% 3.4% 2000 57,053 95,802 2,342,773,000 24,361 4.8% 4.2% 2001 58,224 97,409 2,561,445,000 26,296 4.5% 3.9% 2002 59,396 98,957 2,669,139,000 26,973 4.5% 4.1% 2003 60,567 99,907 2,778,940,000 27,815 4.4% 3.9% 2004 61,738 100,884 2,926,024,000 29,004 4.3% 4.0% 2005 62,910 102,239 3,077,466,000 30,101 4.0% 3.7% 2006 64,081 104,068 3,281,767,000 31,535 3.5% 3.3% 2007 65,311 105,650 N/A N/A 2.5% 2.3% 2008 69,709 107,118 * N/A N/A 4.1% 4.1% 2000 population is from the US Census. 2006 City Population is from State of Montana Department of Labor and Industry. All other years are estimated. Only Missoula County information available. * Estimate for 2007 based on average increase of prior years. Source - Bureau of Economic Analysis and Department of Labor & Industry, Research & Analysis Bureau N/A - Not available Page SS-19 CITY OF MISSOULA, MONTANA DEMOGRAPHIC AND ECONOMIC STATISTICS Last Ten Fiscal Years Population Income Statistics ---PAGE BREAK--- Employer Type of Product or Service 2008 Number of Employees Percentage of Total City Employment 1999 Number of Employees Percentage of Total City Employment University of Montana Higher Education 3000+ 5% 2000+ 4% St. Patrick Hospital Healthcare 1000+ 2% 1000+ 2% Community Medical Center Healthcare 1000+ 2% 1000+ 2% Missoula County Public Schools Public Education 1000+ 2% 1000+ 2% Montana Rail Link Rail Transportation 1000+ 2% 250-499 1% Wal-Mart Retail 500-999 1% DirectTV Customer Service Service 500-999 1% U.S. Forest Service Government 500-999 1% 500-999 1% Missoula County County Government 500-999 1% 500-999 1% Western Montana Clinic Healthcare 250-499 1% 250-499 1% Smurfit-Stone Container Corporation Wood Products 250-499 1% 500-999 1% Stimson Lumber Company Wood Products 250-499 1% 500-999 1% City of Missoula City Government 250-499 1% 250-499 1% Source - Bureau of Economic Analysis and Department of Labor & Industry, Research & Analysis Bureau CITY OF MISSOULA, MONTANA TOP EMPLOYERS IN CITY OF MISSOULA Current and Nine Years Ago Page SS-20 ---PAGE BREAK--- Function/Program 2007 2008 General Government City Council 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 Mayor's Office 3.65 3.65 3.65 4.00 4.00 4.00 4.00 4.00 5.00 5.00 Human Resources 3.03 3.03 3.78 3.90 3.90 3.90 3.90 4.15 4.15 4.15 Communications 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 - - City Clerk 2.03 2.03 3.25 3.25 3.25 3.25 3.50 4.00 4.50 4.50 Information Systems 4.00 4.00 4.00 4.00 4.50 4.50 5.00 5.50 6.00 6.00 Finance/Treasurer 11.72 12.72 12.72 13.22 12.97 13.13 12.75 12.75 16.00 16.00 Public Safety Municipal Court 7.11 7.11 8.11 8.11 8.50 9.00 10.50 13.00 12.50 14.25 City Attorney 8.42 8.42 8.90 9.90 9.90 9.90 9.90 12.40 14.40 14.90 Police Department 94.30 98.19 102.00 102.00 102.00 108.00 116.00 119.00 125.50 125.50 Fire Department 72.95 74.02 76.00 76.00 76.00 76.00 78.00 82.00 85.00 95.00 Building Inspection 12.00 14.37 14.37 14.37 14.37 13.50 13.86 14.34 15.00 13.00 Parking Commission 11.50 11.50 11.00 11.00 11.00 11.00 11.00 11.00 11.00 11.00 Public Works Engineering 23.47 25.47 25.92 25.92 25.92 27.12 28.12 28.62 28.82 29.87 Street Division 27.00 27.53 28.25 28.29 28.29 28.29 28.54 28.54 28.54 28.54 Vehicle Maintenance 8.25 8.50 9.00 10.50 10.50 10.50 10.50 11.00 11.00 11.00 Public Health Wastewater 20.20 20.20 20.20 20.20 20.20 20.20 22.20 22.20 22.20 22.20 Social Services City Cemetery 8.50 9.26 8.93 8.93 8.50 8.50 8.50 8.50 8.50 8.92 Community Development MRA 5.14 7.14 7.14 6.14 6.14 6.14 6.14 6.00 6.00 6.00 Culture and Recreation Parks and Recreation 43.70 48.15 48.72 47.89 48.80 49.94 52.94 58.77 55.70 55.64 Acquatics 4.75 26.36 30.81 Total 379.97 398.29 408.94 410.62 411.74 419.87 438.35 463.52 498.17 514.28 Source: City of Missoula Last Ten Fiscal Years Full Time Equivalent Employees 2006 2002 2003 2004 2005 Page SS-21 1999 2000 2001 CITY OF MISSOULA, MONTANA FULL TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION/PROGRAM ---PAGE BREAK--- Page SS-22 Bargaining Unit Number of Members Date of Expired Contract International Association of Firefighters, Local No. 271 89 June 30, 2012 Montana Public Employees Association Maintenance Technicians in Parks and Recreation Dept 9 June 30, 2011 Missoula Police Protective Association 95 June 30, 2010 Wastewater (decertified as of 6-30-07) Parking Commission 6 June 30, 2009 Teamsters Union, Local No. 2 21 June 30, 2012 Operators' Union, Local No. 4000 9 June 30, 2012 Machinists Union, Local No. 88, District No. 86 8 June 30, 2012 Teamsters, Parks and Recreation Seasonal 19 June 30, 2011 Source: City of Missoula CITY OF MISSOULA, MONTANA CITY SERVICES AND EMPLOYMENT Note: Basic Services provided through City government include Police and Fire protection, Municipal Sewer and Sanitation, street Maintenance and Construction, Building Inspection, Zoning Enforcement, Public Works, and Parks and Recreation. As of June 30, 2008, the City employed approximately 639 workers, including Seasonal and Intermittent. Of the total City workforce, approximately 40% were members of organized bargaining units. State law requires Montana Cities to bargain collectively with formally recognized bargaining units. The City considers relations with its bargaining groups to be satisfactory. ---PAGE BREAK--- 2004(A) 2003 2002 2001 2000 1999 1998 1997 1996 1995 Agriculture, Forestry, Fisheries 1,490 1,485 1,656 1,451 299 244 269 262 278 245 Mining 96 82 64 31 48 35 35 24 29 Construction 4,820 4,695 4,343 4,373 2,485 2,340 2,153 2,033 2,099 1,811 Manufacturing 3,168 3,144 3,182 3,118 3,347 3,331 3,308 3,339 3,426 3,497 Transportation, Commun, and Public Utilities 4,189 4,341 4,499 4,561 2,734 2,830 2,718 2,644 2,523 2,672 Wholesale Trade 2,385 2,381 2,334 2,347 2,243 2,180 2,172 2,187 2,088 1,957 Retail Trade 10,120 9,707 9,513 9,371 11,250 11,028 10,799 10,697 10,437 10,141 Financial, Insurance and Real Estate 5,363 5,287 5,031 4,920 2,241 2,194 2,088 1,970 1,843 1,771 Services 31,225 30,392 29,886 28,999 15,538 14,693 13,880 12,849 12,170 11,576 Government 10,254 10,352 9,714 9,741 8,717 8,117 7,718 7,687 7,712 7,396 73,110 71,866 70,158 68,945 48,885 47,005 45,140 43,703 42,600 41,095 Source: Missoula Area Economic Development Corp (1995 to 2000) Bureau of Economic Analysis (2001 to 2004) Most recent data available Not shown to avoid disclosure of confidential information, but estimates are included in the totals CITY OF MISSOULA, MONTANA EMPLOYMENT BY MAJOR INDUSTRY TYPE ANNUAL AVERAGE Last Ten Fiscal Years Page SS-23 ---PAGE BREAK--- Function/Program 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 General Government Business Licenses Issued 5,023 5,892 7,782 7,791 7,823 7,907 4,484 5,173 5,290 6,386 Amount of SID's Billed 1,307,541 $ 1,298,209 $ 1,676,420 $ 1,865,265 $ 1,947,490 $ 2,275,546 $ 2,241,307 $ 2,748,200 $ 2,793,604 $ 2,802,979 $ # Sewer Bills 28,538 30,094 30,094 32,642 35,124 35,448 36,641 38,728 41,002 41,818 Public Safety Activities Citations issued No data No data No data No data 21,809 25,136 31,008 33,262 38,468 32,219 Orders of Protection issued No data No data No data 447 523 298 586 604 417 400 Attorney's Office - Lawsuits & Claims No data No data No data 21 41 51 53 51 47 49 Attorney - Opened criminal files No data No data No data 1,605 1,890 2,476 2,179 4,235 3,181 2,708 Officers/1,000 population 1.45 1.40 1.41 1 1.40 1.43 2 2 2 1.45 Total sworn officers 76 80 82 82 85 88 96 100 102 101 Police calls for Service No data 34,868 34,328 36,256 36,221 37,398 37,494 43,778 40,515 40,981 Total Fire Department Incident Responses* 4,101 4,244 4,266 4,451 4,729 4,701 5,259 5,497 5,805 5,602 Public Works Miles of sidewalk installed 9.60 11.30 5.70 8.53 11.03 17.45 24.74 9.34 9.19 7.00 Building Permits Issued 2,486 1,895 1,694 1,930 2,180 1,663 1,677 1,494 1,613 1,530 Construction Value of Bldg permits issued 117,814,791 120,150,936 135,701,353 102,287,782 193,963,792 109,963,100 113,217,490 99,855,627 89,139,379 133,165,009 Miles of Street - per State Gas Tax Report 319.60 326.76 327.61 327.61 344.42 349.24 358.57 358.87 337.98 312 Population 52,239 57,053 58,224 59,396 60,567 61,738 62,910 64,081 65,311 69,709 Source: City of Missoula * Fire Department Incident Responses are based on Calendar Years. Current Year number through 12/18/08. OPERATING INDICATORS BY FUNCTION/PROGRAM CITY OF MISSOULA, MONTANA Last Ten Fiscal Years Page SS-24 ---PAGE BREAK--- Page SS-25 2008 2007 2006 GENERAL GOVERNMENT Vehicles 7 5 3 Buildings 3 2 1 PUBLIC SAFETY ACTIVITIES Fire Stations 5 5 5 Fire Engines/Trucks/Vehicles/Vans 26 27 27 Police 6 6 6 Police Patrol Cars/Passenger Vehicles/Other Vehicles 58 47 43 PUBLIC WORKS Streets (sq. yards) 6,826,850 6,761,248 6,596,870 Curbs (lineal feet) 1,997,728 1,957,574 1,898,481 Sidewalks (sq. feet) 10,015,638 9,830,923 9,588,303 Storm Sewer (lineal feet) 153,275 153,275 153,275 Sumps 5,307 5,160 5,030 Signs 53,768 54,901 54,034 Vehicles 107 98 98 Buildings 4 7 6 PUBLIC HEALTH ACTIVITIES Cemetery & Buildings 7 7 7 Vehicles/Tractors/Trucks/Mowers 16 17 16 CULTURE AND RECREATION Parks 51 46 45 Trails 20 18.2 16 Park Shelter/Band Shells/Pavillions 10 10 10 Buildings 23 20 20 Vehicles 55 57 61 HOUSING & COMMUNITY DEVELOPMENT Vehicles 10 10 No data Buildings 2 2 No data Capital Asset Statistics by Function information prior to 2006 is not readily available in this format. Source: City of Missoula Fixed Asset Accounting Module Source: City of Missoula Parks Dept. Website Source: Various City of Missoula Departments Function CITY OF MISSOULA, MONTANA CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM Last Three Fiscal Years Fiscal Year ---PAGE BREAK--- Page SS-26 CITY OF MISSOULA, MONTANA SPECIAL ASSESSMENTS BILLED AND COLLECTED Last Ten Fiscal Years Current Delinquent Total Penalty and Fiscal Assessments Assessments Percent Assessments Assessments Interest Year Billed Paid Collected Paid Paid Paid 1999 1,307,541 $ 1,166,340 $ 89.20% 324,363 $ 1,490,703 $ 26,117 $ 2000 1,298,209 1,200,303 92.46% 96,792 1,297,095 11,402 2001 1,676,420 1,589,981 94.84% 102,967 1,692,948 10,190 2002 1,865,265 1,726,973 92.59% 84,933 1,811,906 10,758 2003 1,947,490 2,424,156 124.48% 75,325 2,499,481 17,909 2004 2,275,546 2,105,570 92.53% 306,209 2,411,779 9,728 2005 2,241,307 2,132,336 95.14% 119,277 2,251,613 16,761 2006 2,748,200 2,638,272 96.00% 149,327 2,787,599 10,807 2007 2,793,604 2,695,269 96.48% 106,930 2,802,199 11,629 2008 2,802,979 2,690,299 95.98% 107,817 2,798,116 11,653 Source: City of Missoula Note: Property tax levies are set in August at the time the City budget is approved and billed November 1 by the County. Half of the taxes are due by November 30 and the other half by May 31. After those dates, the bills are delinquent (and a lien is placed on the property). The interest charged on delinquent taxes is one percent per month, with a two percent penalty. ---PAGE BREAK--- Page SS-27 Average Ratio Highest Ratio Lowest Ratio Median Ratio Combined of Market Value of Market Value of Market Value of Market Value Fiscal Market Value to Assessments of to Assessments of to Assessments of to Assessments of Year of All Districts Individual Parcels Individual Parcels Individual Parcels Individual Parcels 1999 82,339,029 $ 47.20 1,103.00 13.40 33.70 2000 116,582,168 77.00 1,304.70 6.40 72.10 2001 135,469,759 180.80 1,529.10 6.90 57.10 2002 146,667,428 196.60 1,586.20 6.20 52.10 2003 136,898,208 127.17 2,887.04 9.01 39.80 2004 158,065,283 89.06 1,154.30 6.30 79.15 2005 166,871,500 95.60 2,692.30 2.07 117.52 2006 158,701,080 757.82 10,797.00 5.82 221.17 2007 191,613,295 1,219.98 13,841.43 6.35 221.37 2008 211,405,977 317.09 4,977.27 5.04 141.94 Source: City of Missoula and Missoula County Assessor's Office CITY OF MISSOULA, MONTANA SPECIAL IMPROVEMENT DISTRICT 512, 521 AND 522 REQUIRED CONTINUING DISCLOSURE ---PAGE BREAK--- Page SS-28 CITY OF MISSOULA, MONTANA MISSOULA PARKING COMMISSION RATES AND FEES Last Ten Fiscal Years Parking Average On-Street Garage Garage Off-Street Off-Street Fiscal Hourly Hourly Lease Space Lease Space and Garage Year Parking Parking Range Range Lease Rate 1999 0.20 0.25 $40.00 TO $45.00 $15.00 TO $50.00 28.00 2000 0.20 0.25 $45.00 TO $50.00 $ 20.00 TO $50.00 35.00 2001 0.50 0.25 $50.00 TO $55.00 $ 25.00 TO $ 50.00 38.00 2002 0.50 0.25 $55.00 TO $65.00 $ 25.00 TO $ 50.00 38.00 2003 0.50 0.25 $55.00 TO $65.00 $ 35.00 TO $ 50.00 44.00 2004 0.50 0.25 $55.00 TO $65.00 $ 30.00 TO $ 50.00 44.00 2005 0.50 0.25 $55.00 TO $65.00 $ 30.00 TO $ 50.00 44.00 2006 0.50 0.25 $55.00 TO $65.00 $ 30.00 TO $ 50.00 44.00 2007 0.50 0.25 $55.00 TO $65.00 $30.00 TO $50.00 45.00 2008 0.50 0.25 $55.00 TO $65.00 $30.00 TO $50.00 45.00 Source: Missoula Parking Commission ---PAGE BREAK--- CITY OF MISSOULA, MONTANA MISSOULA PARKING COMMISSION OPERATIONS AND FACILITIES Last Ten Fiscal Years Percentage of Parking Lots Leased University Percentage Percentage Percentage Leased Parking On-Street Off-Street Throughout Parking District of Parking of Parking of Garage Revenue other Percentage Fiscal Parking Parking Downtown Garage Parking Ticket Meter Parking than Parking of Other Year Meters Spaces Missoula Spaces Permits Revenue Revenue Revenue Garage Revenue 1999 1,060 1,013 14 167 1,099 19% 33% 16% 26% 2% 2000 1,061 1,275 14 167 1,000 24% 29% 16% 27% 4% 2001 1,112 1,256 14 167 1,158 27% 27% 16% 27% 3% 2002 1,116 1,295 16 168 1,148 27% 27% 16% 27% 3% 2003 1,122 1,107 14 172 1,381 27% 33% 16% 27% 3% 2004 1,064 829 13 259 1,097 20% 32% 18% 24% 6% 2005 1,161 816 13 257 1,145 17% 36% 20% 23% 3% 2006 1,075 801 13 257 1,124 20% 34% 14% 28% 5% 2007 1,075 801 13 257 1,124 20% 34% 14% 27% 4% 2008 1,075 801 13 257 1,592 18% 31% 16% 21% 14% Source: Missoula Parking Commission Page SS-29 ---PAGE BREAK--- Page SS-30 CITY OF MISSOULA, MONTANA COMPONENT UNIT MISSOULA REDEVELOPMENT AGENCY HISTORICAL VALUE OF TAX INCREMENT DISTRICTS For the Last Ten Fiscal Years Real Property & Personal Property Fiscal Personal Attached (Unattached) Total Year Taxable Value Taxable Value Taxable Value 1999 2,009,734 $ 242,206 $ 2,251,940 $ 2000 1,987,052 203,295 2,190,347 2001 1,950,339 78,955 2,029,294 2002 2,077,215 100,216 2,177,431 2003 2,197,855 93,163 2,291,018 2004 2,243,639 128,090 2,371,729 2005 2,377,104 190,777 2,567,881 2006 2,444,439 197,268 2,641,707 2007 2,660,473 311,261 2,971,734 2008 2,718,817 342,487 3,061,304 Real Property & Personal Property Fiscal Personal Attached (Unattached) Total Year Taxable Value Taxable Value Taxable Value 2002 * 6,701,861 $ 437,851 $ 7,139,712 $ 2003 6,665,087 466,103 7,131,190 2004 6,739,549 469,329 7,208,878 2005 6,809,431 621,899 7,431,330 2006 6,991,926 677,495 7,669,421 2007 7,111,962 586,632 7,698,594 2008 7,306,424 406,379 7,712,803 * First year data available as district was created in FY 2001. Source: City of Missoula and Missoula County Assessor's Office Urban Renewal District II Urban Renewal District III ---PAGE BREAK--- Page SS-31 Tax Total Taxable Incremental Increment Value Within Taxable Value as Percentage Fiscal Total City Tax Increment Within Tax of City's Year Taxable Value District Increment District Taxable Value 1999 78,715,216 $ 2,251,940 $ 392,117 $ 0.5% 2000 80,761,493 2,190,347 330,524 0.4% 2001 78,662,970 2,029,294 169,471 0.2% 2002 81,279,789 2,177,431 318,674 0.4% 2003 84,728,489 2,291,018 440,310 0.5% 2004 88,189,948 2,371,729 511,906 0.6% 2005 91,358,406 2,567,881 708,058 0.8% 2006 93,533,579 2,641,707 781,884 0.8% 2007 99,332,558 2,971,734 1,111,911 1.1% 2008 103,000,436 3,061,304 1,201,481 1.2% Tax Total Taxable Incremental Increment Value Within Taxable Value as Percentage Fiscal Total City Tax Increment Within Tax of City's Year Taxable Value District Increment District Taxable Value 2002 * 81,279,789 $ 7,139,712 $ 137,634 $ 0.2% 2003 84,728,489 7,131,190 140,662 0.2% 2004 88,189,948 7,208,878 204,532 0.2% 2005 91,358,406 7,431,330 426,984 0.5% 2006 93,533,579 7,669,421 665,075 0.7% 2007 99,332,558 7,698,594 694,248 0.7% 2008 103,000,436 7,712,803 708,457 0.7% * First year data available as district was created in FY 2001. Source: City of Missoula and Missoula County Assessor's Office Urban Renewal District III Urban Renewal District II For the Last Ten Fiscal Years CITY OF MISSOULA, MONTANA COMPONENT UNIT MISSOULA REDEVELOPMENT AGENCY TAXABLE VALUE OF DISTRICTS COMPARED TO CITY ---PAGE BREAK--- City Net City Taxable Incremental Incremental Incremental Taxable Value Fiscal Appraised Value Taxable Value Taxable Value Taxable Value (excluding Year Value (includes district) of District I of District II of District III district) 1999 1,859,622,977 $ 78,715,216 $ 3,344,984 $ 392,117 $ - $ 74,978,115 $ 2000 1,985,298,106 80,761,493 3,133,084 330,524 - 77,297,885 2001 2,111,624,637 78,662,970 1,794,540 169,471 - 76,698,959 2002 2,247,822,357 81,279,789 1,861,575 318,674 137,634 78,961,906 2003 2,403,250,454 84,728,489 2,071,413 440,310 140,662 82,076,104 2004 2,636,857,585 88,189,948 2,887,057 511,906 204,532 84,586,453 2005 2,805,424,077 91,358,406 2,709,824 708,058 426,984 87,513,540 2006 2,901,638,641 94,980,538 not applicable 781,884 665,075 93,533,579 2007 3,195,587,513 101,138,717 not applicable 1,111,911 694,248 99,332,558 2008 3,369,424,008 103,000,436 not applicable 1,201,481 708,457 101,090,498 Source: City of Missoula and Missoula County Assessor's Office CITY OF MISSOULA, MONTANA COMPONENT UNIT MISSOULA REDEVELOPMENT AGENCY TRENDS IN PROPERTY VALUATION IN CITY Page SS-32 For the Last Ten Fiscal Years ---PAGE BREAK--- SINGLE AUDIT SINGLE AUDIT SECTION SECTION ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- ---PAGE BREAK--- 435 Ryman St., Missoula, MT 59803 (406) 552-6110 www.ci.missoula.mt.us CITY OF MISSOULA, MONTANA Comprehensive Annual Financial Report for Fiscal Year Ended June 30, 2008