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STATE FINANCIAL SERVICES DIVISION LOCAL GOVERNMENT SERVICES BUREAU MONTANA ANNUAL FINANCIAL REPORT FISCAL YEAR ENDING JUNE 30, 2021 REVISED JULY 2021/VERSION 21.1 418 E. 2ND AVENUE, P.O. BOX 158 WHITEFISH, MT 59937 021503 Mitchell Building Room 255, PO Box 200547, Helena, Montana 59620-0547 Local Government Services Bureau Portal ENTITY # CITY OF WHITEFISH ---PAGE BREAK--- 021503 CITY OF WHITEFISH 418 E. 2ND AVENUE, P.O. BOX 158 WHITEFISH, MT 59937 **If a filing fee is owed, please print the completed filing fee form and mail with your payment to: Montana Department of Administration Local Government Services Mitchell Bldg - Room 270 PO Box 200547 Helena, MT 59620-0547 Annual Resources Exceed: $0 $750,000 $1,000,000 $1,500,000 $2,500,000 $5,000,000 $10,000,000 $50,000,000 Date: REVISED 7-2017 VERSION 17.1 The following filing fee schedule is required by Section 2-7-514, MCA, and has been adopted as Section 2.4.402 of the Administrative Rules of Montana. ANNUAL FINANCIAL REPORT FILING FEE FISCAL YEAR ENDING JUNE 30, 2021 If the local government entity name or mailing address on the Department's mailing list is inaccurate or has changed recently please note the correction below. PLEASE NOTE: The "Determination of Filing Fee Form" - page 2 of 2 - is designed to be self-calculating. If you choose to print this form and manually fill it in, please adjust the "Filing Fee Owed" in Box based on the Filing Fee Schedule included below. Please revise Box #2 to "YES" if the adjusted debt proceeds and total revenues received by your government indicate that an audit will be required. If there is an amount listed in BOX #1 of the Determination of Filing Fee Form (page 2 of please include a check or warrant for that amount, made payable to "State Treasurer" in the amount of the required fee. LOCAL GOVERNMENT ANNUAL FILING FEE SCHEDULE **If no filing fee is owed, you must complete Part II to determine if an audit is required. Please assure a copy of the completed Determination of Filing Fee & Audit Requirement form is either included in your Annual Financial Report (AFR) or if not, a completed copy of the form is uploaded along with your AFR in the portal to ensure we enter the correct amount of adjusted debt proceeds in our system. Annual Resources Filing Equal to or Less Than Fee $750,000 $0 $1,000,000 $550 $1,500,000 $800 $2,500,000 $950 $5,000,000 $1,300 $10,000,000 $1,700 $50,000,000 $2,500 $3,000 FOR DEPARTMENT OF ADMINISTRATION USE ONLY GL# Amount Received: $ TD# By: Page 1 of 2 ---PAGE BREAK--- Total Revenues 24,026,878.00 Other Financing Sources - Proceeds from Sale of Capital Assets 15,300.00 Special and/or Extraordinary Items (Revenues only) 343,625.00 Total Operating Revenues 10,154,871.00 Non-Operating Revenues: (Do not include Gain on Sale of Capital Assets) Taxes/Assessments 0.00 Licenses/Permits 0.00 Intergovernmental Revenues 147,929.00 Interest Revenues 72,573.00 Other Non-operating Revenues not included above Capital Contributions 0.00 Special and/or Extraordinary Items (Revenues only) 0.00 Proceeds from Sale of Capital Assets 0.00 Total Additions to Pension & Private Purpose Trust Funds Only 0.00 Total Revenues for Calculation of Filing Fee $34,761,176.00 Add: Proceeds from Debt provided by a Federal agency, a State agency or another local government: Governmental Funds (from Statement of Revenues, Expenditures, and Changes in Fund Balances (Page 16) Proceeds from General Long-Term Debt) 192,811.00 Proprietary Funds (from Statement of Cash Flows, Major & Non-Major Enterprise Funds (Page 20) Proceeds from Debt) 22,629,136.00 Manually subtract debt proceeds received from non- governmental financial institutions (banks, savings & loans) included above (Enter as a negative) Subtotal - Proceeds received from Debt 22,821,947.00 Manually subtract amount of proceeds received from governments used to refinance existing debt. (Enter as a negative) Total Adjusted Debt Proceeds $22,821,947.00 Total Revenues + Total Adjusted Debt Proceeds $57,583,123.00 $2500.00 Determination of Filing Fee Form Note: This form is self-calculating, with defaults of and "NO" in box #1 and Please adjust according if you print this form and enter information manually. FEE REQUIREMENT: As provided by 2-7-514, MCA, each local government required to have an audit under 2-7-503, MCA, shall pay an annual filing fee to the department; the fee schedule must be based upon the local government's annual revenue amounts. Administrative Rule 2.4.402 defines "revenues" as all receipts or inflows of resources of a local government entity from any source excluding the proceeds from bond issuances and other long-term debt not received from state or federal sources. AUDIT REQUIREMENT: As provided by 2-7-503, MCA, each local government receiving revenue or financial assistance in excess of $750,000, regardless of the source of revenue or financial assistance, must have an audit. "Financial Assistance" including assistance provided by a federal, state, or local government entity in the form of loans and loan guarantees. Part II - Determination of Audit Requirement. Loan proceeds received in the fiscal year that were used to refinance (payoff) existing debt will not be considered as "Financial Assistance" when determining the current audit requirement. Audit Required? YES If this amount exceeds $750,000, you are required to have an audit for the fiscal year. Page 2 of 2 ENTERPRISE FUNDS - PAGE 20 (STATEMENT OF CASH FLOWS) TRUST FUNDS - PAGE 22 (STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS) NOTE: Do not include additions to Investment Trust Funds If total revenues are equal to or less than $750,000, no filing fee is required to be paid. However, your entity may be subject to audit requirements as determined in Part II or required by other agencies. Review Part II below to determine if there is an audit requirement. Manually subtract proceeds of debt received to refinance an existing debt to exclude from audit determination. If total revenues plus adjusted debt proceeds exceeds $750,000, your entity will be subject to audit requirements. Part II - Determination of Audit Requirement w/ No Filing Fee (Subtract Debt used to Refinance Manually) Box #2 GOVERNMENTAL FUNDS - PAGE 16 (STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES) ENTERPRISE FUNDS - PAGE 19 (STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION) Note: Do not include revenues of Internal Service Funds Box #1 Filing Fee Owed ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT TABLE OF CONTENTS FISCAL YEAR ENDING JUNE 30, 2021 Page No. INTRODUCTORY SECTION Letter of Transmittal 2 List of Elected and Appointed Officials – Signature 3 FINANCIAL SECTION Management's Discussion and Analysis 5-13 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position 15 Statement of Activities 16 Fund Financial Statements: Balance Sheet - Governmental Funds 17 Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position……………………..…. 18 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 19 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 20 Statement of Net Position - Proprietary Funds 21 Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Funds 22 Statement of Cash Flows - Proprietary Funds 23 Statement of Fiduciary Net Position -Fiduciary Funds 24 Statement of Fiduciary Net Position -Fiduciary Funds 25 Notes to the Financial Statements 26-787 Required Supplementary Information: Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund and Major Special Revenue 80-88 Other Supplementary Information: Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - Nonmajor Special Revenue Funds 90-94 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Special Revenue Funds 95-130 Combining Balance Sheet - Nonmajor Debt Service Funds 131 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Debt Service Funds 132-135 Combining Balance Sheet - Nonmajor Capital Projects Funds 136 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Capital Projects Funds 137-138 Combining Statement of Net Position - Nonmajor Enterprise Funds 139-140 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position – Nonmajor Enterprise Funds 141 Schedule of Federal/State Grants, Entitlements and Shared Revenues 142-155 Schedule of Cash Receipts and Disbursements 156-158 Cash Reconciliation 159 GENERAL INFORMATION SECTION General Information 161 ---PAGE BREAK--- INTRODUCTORY SECTION 1 ---PAGE BREAK--- P.O. Box 158 • Whitefish, MT 59937 • (406) 863-2400 • Fax: (406) 863-2419 December 31, 2021 Montana Department of Administration Local Government Services Bureau Mitchell Building, Room 270 PO Box 200547 Helena, MT 59620-0547 To Whom It May Concern, Please find enclosed the City of Whitefish Annual Financial Report for fiscal year ending June 30, 2021. If you have any questions or concerns, please call me at [PHONE REDACTED]. Best Regards, Benjamin Dahlman, CPFO Digitally Signed 10:22am 12/31/2021 Benjamin Dahlman Finance Director 2 ---PAGE BREAK--- OFFICE NAME OF CITY/TOWN OFFICIALS/OFFICERS DATE TERM EXPIRES Mayor John M. Muhlfeld December 31, 2023 Councilperson Frank Sweeney December 31, 2023 Councilperson Rebecca Norton December 31, 2023 Councilperson Steve Qunell December 31, 2023 Councilperson Andy Feury December 31, 2021 Councilperson Ben Davis December 31, 2021 Councilperson Ryan Hennen December 31, 2021 City Manager Dana M. Smith, CPA Attorney Angela Jacobs Chief of Police Bridger Kelch - Interrim Chief of Police Clerk/Admin Services Director Michelle Howke Finance Director Benjamin Dahlman, CPFO Municipal Judge Caitlin Overland Submitted by; Benjamin Dahlman, CPFO Finance Director December 31, 2021 Date Preparer's contact information: Email: [EMAIL REDACTED] Phone: [PHONE REDACTED] CITY OF WHITEFISH ELECTED OFFICIALS/OFFICERS CONSISTENT WITH STATE LAW, I HEREBY TRANSMIT THE CITY OF WHITEFISH ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDING JUNE 30, 2021 3 ---PAGE BREAK--- MANAGEMENT'S DISCUSSION AND ANALYSIS 4 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 The Management’s Discussion and Analysis for the City of Whitefish, Montana offers readers a narrative of the City’s performance and financial activities for the fiscal year ended June 30, 2021. The City encourages readers to consider the information presented in conjunction with the City’s financial statements and accompanying notes. FINANCIAL HIGHLIGHTS ● The City’s total assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources at June 30, 2021, by $133,860,249 as reported in the statement of net position. This figure represents an increase of $9,418,943 in net position from the prior year. ● The total fiscal year end governmental fund balance was $16,330,371 as reported in the balance sheet for governmental funds. This figure represents a decrease of $341,628 from the prior year which was primarily the result of the reduction of restricted fund balance in the Tax Increment Debt fund. ● The unassigned general fund balance at fiscal year-end was $2,941,753. This figure represents an increase of $823,718 from the prior year. EXPLANATION OF THE FINANCIAL STATEMENTS This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements, which are comprised of three components: 1. Government-wide financial statements 2. Fund Financial Statements 3. Notes to the Financial Statements Other required supplementary information is also included at the end of the financial section. The government-wide financial statements are designed to provide readers with a broad overview of the City’s finances using the accrual basis of accounting. The statement of net position presents information on all of the City’s assets and deferred outflows of resources and liabilities and deferred inflows of resources with the difference between the two reported as net position. Over time, increases and decreases in net position may serve as a useful indicator of whether the City’s financial position is improving or deteriorating. The statement of activities presents information reflecting how the City’s net position has changed during the fiscal year. All changes in net position 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 delinquent taxes and earned, but unused vacation leave). 5 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 The government-wide financial statements distinguish functions of the City 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, public safety, social and economic services, public works, planning, culture and recreation, housing and economic development, and debt service. The business-type activities of the City include water, wastewater, and solid waste operations. 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, 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 can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Governmental Funds - Governmental funds are used to account for those same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide statements, the fund financial statements are prepared on the modified accrual basis. Under the modified accrual basis of accounting, revenues are recognized when measurable and available and expenditures are recognized when the related fund liability is incurred, except for long-term debt and similar long-term items which are recorded when due. Therefore, the focus is on near-term inflows and outflows of spendable resources as well as on the balance of spendable resources available at the end of the fiscal year. Since the focus of the governmental funds is on near-term resources, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide statements. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison. Proprietary Funds - There are two types of proprietary funds: enterprise and internal service funds. The City maintains only enterprise funds, which are used to report the same functions presented as business-type activities in the government-wide statements. The City uses enterprise funds to account for its water, sewer, and solid waste operations. Fiduciary Funds - Fiduciary funds are used to account for resources held for the benefit of parties outside the government and are not included in the government-wide financial statements as the resources of these funds are not available to support the City’s own programs. Notes to Financial Statements The notes to the financial statements provide additional narrative and information that is essential to obtaining a complete understanding of the data provided in the government-wide and fund financial statements. 6 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 Other Required Supplementary Information In addition to the basic financial statements and accompanying notes, certain required supplementary information concerning the City’s budgetary control, schedule of funding progress of other post-employment benefits, and schedule of net pension liability and contributions is provided. FINANCIAL ANALYSIS OF THE CITY Over time, net position serves as a useful indicator of a government’s financial condition. The net position for both governmental and business-type activities for the fiscal year ending June 30, 2021, totaled $133,860,249, which is an increase of $9,418,943 from the prior year. In fiscal year 2015, the City implemented GASB Statement No. 68, which affected both governmental and business-type activities and continues to affect net position in FY21 as noted in the negative unrestricted net position for governmental activities. Although the pension retirement systems are administered by the State of Montana, including determining required contributions for each plan, the City is required to report the related liability per GASB Statement No. 68. attributed to the different plans. Other post employment benefits (OPEB) is an additional contributor to the negative unrestricted net position. The City’s largest portion of net position reflects investment in capital assets (land, buildings, machinery, and equipment, etc.) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to our citizens. Although the City’s investment in its capital assets are 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. Restricted net position represents resources that are subject to external restrictions on how they may be used. The unrestricted net position may be used to meet the City’s ongoing obligations to citizens and creditors. The following table presents consolidated information on the City’s net position as of June 30, 2021, and June 30, 2020. City of Whitefish - Net Position Governmental Business-type Activities Activities Change Change FY21 FY20 Inc (Dec) FY21 FY20 Inc (Dec) Current and other assets $ 24,765,897 $ 25,234,212 $ (468,315) $ 16,258,820 $ 11,566,085 $ 4,692,735 Capital assets 79,619,309 76,989,617 2,629,692 62,971,444 43,476,474 19,494,970 Total assets $ 104,385,206 $102,223,829 $ 2,161,377 $ 79,230,264 $ 55,042,559 $24,187,705 Long-term debt outstanding $ 11,204,770 $ 13,145,206 $ (1,940,436) $ 32,925,082 $ 12,344,504 $20,580,578 Other liabilities 4,990,271 5,277,294 (287,023) 635,098 2,058,078 (1,422,980) Total liabilities $ 16,195,041 $ 18,422,500 $ (2,227,459) $ 33,560,180 $ 14,402,582 $19,157,598 Net investment in capital assets $ 78,180,738 $ 71,716,384 $ 6,464,354 $ 33,056,168 $ 33,490,448 $ (434,280) Restricted 14,921,069 17,243,112 (2,322,043) 5,724,772 3,804,124 1,920,648 Unrestricted (deficit) (4,911,642) (5,158,167) 246,525 6,889,144 3,345,405 3,543,739 Total net position $ 88,190,165 $ 83,801,329 $ 4,388,836 $ 45,670,084 $ 40,639,977 $ 5,030,107 7 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 The City’s revenues totaled $33,621,570 for the fiscal year ending June 30, 2021. The total cost of all programs and services for that same period was $24,332,342. The overall result is an increase in net position totaling $9,418,943 including restatements. The table below presents consolidated information on the City’s change in net position for the fiscal years ending June 30, 2021, and June 30, 2020. City of Whitefish – Changes in Net Position Governmental Business-type Activities Activities Change Change FY21 FY20 Inc (Dec) FY21 FY20 Inc (Dec) Revenues Program revenues (by major source): Charges for services $ 7,080,747 $ 7,124,258 $ (43,511) $10,154,873 $ 9,047,186 $ 1,107,687 Operating grants and contributions 1,784,482 1,374,555 409,927 971 808 163 Capital grants and contributions 2,379,466 179,257 2,200,209 31,886 995,000 (963,114) General revenues (by major source): Property taxes for general purposes 4,219,642 10,064,444 (5,844,802) - - - Resort Taxes 4,787,725 4,235,610 552,115 - - - Franchise/Utility Fees 516,758 470,767 45,991 - - - Miscellaneous 308,507 244,523 63,984 - - - Interest/investment earnings 63,834 207,338 (143,504) 72,571 178,363 (105,792) State entitlement 925,004 1,140,446 (215,442) - - - On behalf payments 1,180,032 756,975 423,057 115,072 - 78,738 Total revenues $ 23,246,197 $ 25,798,173 $ (2,551,976) $ 10,375,373 $10,257,691 $ 117,682 Program expenses General government $ 1,702,791 $ 1,560,506 $ 142,285 - - - Public safety 9,150,223 8,086,940 1,063,283 - - - Public works 3,703,521 3,341,957 361,564 - - - Social and economic services 1,500 1,500 - - - Culture and recreation 2,464,672 2,360,952 103,720 - - - Housing and community development 631,975 1,490,213 (858,238) - - - Debt service - interest 99,712 227,491 (127,779) - - - Miscellaneous 230,827 55,692 175,135 - - - Water - - - $ 2,727,370 $ 2,504,845 $ 222,525 Sewer - - - 3,289,183 2,893,381 395,802 Solid Waste - - - 330,568 17,974 312,594 Total expenses $ 17,985,221 $ 17,125,251 $ 859,970 $ 6,347,121 $ 5,416,200 $ 930,921 Excess (deficiency) before special items and transfers $ 5,260,976 $ 8,672,922 $(3,411,946) $ 4,028,252 $ 4,841,491 $ (813,239) Gain (loss) on sale of capital assets (99,240) 99,240 6,000 6,000 Transfers - net $ (995,855) $ (834,179) $ (161,676) $ 995,855 $ 834,179 $ 161,676 Total Increase (decrease in net position) $ 4,265,121 $ 7,739,503 $(3,474,382) $ 5,030,107 $ 5,675,670 $ (645,563) 8 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 Governmental activities Revenues for the fiscal year ending June 30, 2021, from governmental activities were $23,246,197 while expenses were $17,985,221. Thus, with the $995,855 in transfers-out, net position increased $4,265,121. Total governmental revenues decreased from the prior year by $2,551,976. The decrease in revenues was primarily due to lower Tax Increment Financing (TIF) related property taxes. The City’s TIF expired at the end of FY21. The overall reduction in TIF revenues were partially offset by higher resort taxes, increased operating and capital grants and contributions and franchise and utility fees. Operating grants were related to the Coronavirus Aid, Relief and Economic Security Act (CARES) Act funding from the federal government passed through the State of Montana. Resort tax collections experienced a strong rebound from the prior year as tourists returned with the lifting of COVID-19 travel restrictions. Interest earnings continue to decline reflecting the decrease in the rates the City earns on idle cash. Overall, expenses increased by $859,970. Increases in staffing, wages, and benefits, as well as the costs of post-employment benefits and pension costs contributed to the growth in personnel costs. Business-type activities Revenue for the fiscal year ending June 30, 2021, from business-type activities was $10,375,373. Expenses were $6,347,121 and net transfers-in totaled $995,855. The sum revenues and transfers less expenses plus the sale of capital assets totaling $6,000 resulted in an increase in net position of $5,030,107. Charges for services revenue increased by $1,107,687 from the previous year due to increased water and sewer rates plus the addition of garbage service charges billed by the City. Total expenses also experienced an increase due to personnel costs including pension expenses and increased purchased services which was influenced by the addition of a garbage contract to provide services to customers that are now billed by the City. Overall net position for the business- type activities remains positive. Fund Balance – Governmental Funds Balance Sheet The City’s governmental funds reported a total fund balance of $16,330,371 as of June 30, 2021, which is a $341,628 decrease compared to the fund balance of governmental funds as of June 30, 2020. The decrease in fund balance is primarily due to, the use of fund balance in the Tax Increment Revenue Bond Debt Fund. The debt in that fund was fully paid in FY21. The overall decrease was partially offset by increases in the General Fund, Resort Tax Fund, Street and Alley Fund and the Fire and Ambulance Fund due to strong revenues and managed spending. CARES Act funding was a contributing factor as was the timing of spending for capital projects. Of the fund balance at June 30, 2021, $2,941,753 is unassigned in the General Fund. The remaining fund balance is restricted or committed based on the source of revenue. GENERAL FUND BUDGETARY HIGHLIGHTS The City’s budget is prepared in accordance with Title 7, Chapter 6, Part 40, MCA (Local Government Budget Act). During fiscal year 2021 two budget amendment items were approved by the City Council and are detailed in the following table: 9 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 To From Amount Justification Tax Increment Fund: 2310-470330-930 Tax Increment Tax Unbudgeted Revenue. $45,000.00 To provide for costs incurred during the fiscal year for the Baker Avenue Underpass Project in accordance with the City Council approved contract award executed before July 15, 2020. This project will continue into FY22. Solid Waste Fund: 5410-430800-390 Solid Waste Fund Unbudgeted Revenue. $250,000.00 To provide for costs not included in the FY21 Budget that are related to the transition of garbage billing back to the City. The City Council approved contract with Republic Services started in April 2021 and provides for the City to bill and collect fees from property owners for garbage services and then Republic Services directly bills the City for services provided in accordance with the contract. Overall, the General Fund tracked closely with the budget for both revenues and expenditures. However, higher zoning plan review fees were 179% of the budgeted amount due to strong real estate activity in the City. CARES Act funding also contributed to higher revenue than anticipated in the General Fund as well as in the Law Enforcement and Fire and Ambulance Funds. Business license fees were also higher. General Fund expenditures were 98% spent. Licenses and Permits in the Building Codes Fund were much higher than budget due to building activity in the City. The Law Enforcement and Fire and Ambulance and other funds tracked above budget appropriation at year-end due to entries to account for the State of Montana’s on-behalf pension payments in accordance with GASB 85. These items are not budgeted at the City. All other funds expended amounts that were within the budget authority with some funds spending significantly less due to the timing of capital improvement projects and equipment purchases. CAPITAL ASSET AND LONG-TERM DEBT ADMINISTRATION Capital Assets The City’s investment in capital assets for its governmental and business-type activities as of June 30, 2021, totals $142,590,753. The City’s capital assets include easements, land, buildings, 10 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 improvements, machinery and equipment, infrastructure, and construction in progress. The depreciation of capital assets is reflected in the various governmental and business-type expense activities. Total depreciation expense incurred for the governmental and business-type activities during FY21 totaled $3,985,422 and $1,360,184, respectively. Major capital assets events during FY21: Completed the LED lighting upgrade project at the Emergency Services Center Completed the Armory Park Playground project Continued investment in the Wastewater Treatment Plant Upgrade project Continued investment in the State Park Road construction project Completed the Depot Park project Completed the Voerman Bike Path project near the intersection with Monegan Road Continued the Baker Avenue Underpass project Continued investment in the Water Treatment Plant project Purchased vehicles for Building, Parks, Police, and Public Works Started the Edgewood and Texas Avenue Road Reconstruction project Continued making improvements to the Whitefish Trail The City also recorded capital infrastructure donations from several developments in FY21. Long-term Debt The City’s total long-term debt increased by $18,640,141 compared to prior fiscal year. The City entered into a lease for Cisco equipment and took additional draws on State Revolving Fund loans for the Water and Waste Water Treatment Plant projects. The higher outstanding debt for FY21 was partially offset as the City paid off the 2015 and 2016 TIF bonds as well as a 2018 Intercap loan for some SCBA equipment purchased and financed in 2018. Below is a summary of the outstanding long-term debt of the City as of June 30, 2021, compared to June 30, 2020. Outstanding Long-term Debt Purpose/Type June 30, 2021 June 30, 2020 Revenue Bonds: TIF 2015 Refunding (ESC) $ - $ 763,000 TIF 2016 (City Hall/Park Str.) - 2,970,000 Water 12,481,620 5,671,000 Sewer 17,433,656 4,315,026 Special Assessment Bonds: SID 166 320,000 385,000 SID 167 685,910 715,043 Intercap Loans: Fire Pumper Type 1 72,914 93,285 Fire Pumper 101,854 130,302 Water Tender Fire Apparatus 31,084 61,781 Fire SCBA Units - 47,241 Ambulance 2018 72,559 107,581 Equipment Lease: Cisco Equipment 154,249 - 11 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 OPEB: Governmental* 1,503,246 1,354,893 Business-type 458,614 415,153 Compensated Absences: Governmental 1,699,304 1,560,631 Business-type 317,863 299,920 Net Pension Liability: Governmental 6,563,649 4,956,449 Business-type 2,233,329 1,643,405 TOTAL $44,129,851 $25,489,710 *See notes to financial statements. FISCAL YEAR 2022 BUDGET AND ECONOMIC FACTORS Total revenues and other financing sources for all funds are budgeted at $37,534,011 which is $14,805,520 or 28.3% lower than the FY21 budget of $52,339,531. Most of the decrease in FY22 is attributed to the reduction in loan proceeds that were used to finance the Wastewater Treatment Plant Upgrade and the Water Treatment Plant Expansion projects through the State Revolving Fund Loan Program in FY21. The FY22 budget continued to limit increases on taxpayers despite a 17.49% increase in taxable value compared to the prior year. The adopted budget included a net mill levy of 93.472 mills, which continues the 10.0 mill decrease that was provided for in FY21. A reduction of 14.165 mills was also budgeted to account for additional property tax relief from Resort Tax collections and the transition of the funding for the Flathead Emergency Communications Center from each individual jurisdictions’ property tax levy to the voter approved county-wide district. All maintenance assessments were held at prior year rates. The FY22 budget totals $42,453,290 in expenditures and $7,427,741 in interfund transfers for a total appropriated budget of $49,881,032. Compared to the prior fiscal year, FY22 expenditures are decreasing $16,248,437, or 27.7%, and interfund transfers are increasing $618,136, or 9.1%. The decrease in expenditures is mostly due to the $15.1 million decrease in capital expenditures described below and the City no longer having debt service payments for the Tax Increment Bonds that were paid in full at the beginning of FY21. The increase in transfers is mostly due to the increased property tax relief provided by higher Resort Tax collections in FY21 compared to FY20. Total appropriations for property tax supported funds have increased by $815,107, which is primarily due to increased capital outlay and personnel costs. The budget is balanced, with some anticipated reductions in fund balances by year-end. Resort Tax collections last year of nearly $4.8 million exceeded the FY21 budgeted revenue of $4.25 million. As required by the voters, collections in excess of the budget must be returned to taxpayers as additional property tax relief in the following year. Total property tax relief for FY22 is $1,677,019 and reduces mills levied by 35.278 mills. Capital spending in FY22 is projected to decrease $15.1 million compared to the prior year as the City finishes the Wastewater Treatment Plant Upgrade Project (decrease of $11.6 million) and the Water Treatment Plant Expansion Project (decrease of $8.8 million). The City also budgeted a 12 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2021 Type 3 Fire Engine with requested funding through an Assistance to Firefighters Grant ($350,000) and matched by a contribution from the Whitefish Fire Service Area ($100,000). The budget also includes the purchase of a brush truck ($50,000) and an ambulance ($248,780) that were budgeted in FY21 but are carried forward to FY22. Personnel budgets included a pay increase of 3.5%, comprised of a 1.5% cost of living adjustment plus a 2% STEP (longevity) on the City’s pay matrix for most employees. Below are some exceptions based on collective bargaining agreements: Police officers’ salaries and wages were budgeted to receive a one-time pay adjustment of 5% based on a market rate analysis of comparable law enforcement agencies in addition to the normal pay increase detailed above. With a schedule change that saves scheduled overtime costs, firefighters were budgeted to receive an additional 0.5% for a total increase of Beginning in FY22, a cap has been placed on holiday pay (personal time) accruals for both police and fire. Therefore, the budget includes anticipated payouts equaling one year’s worth of annual holiday pay per police officer and firefighter. The FY22 personnel budget also includes the following staffing increases, an administrative assistant in the Planning and Building Department to keep up with demand, increased staffing from 2.875 full-time equivalents (FTE) to 3.0 FTE in Utility Billing, two 40-hour work week firefighters for the Fire Department, an additional 10 hours per week for part-time Library staff and a new position has been budgeted in Public Works for the Waste Water Treatment Plant. The City will be receiving over $2 million as a direct allocation from the American Rescue Plan (ARP). While there is guidance on the use of the funds, City Council shall decide the use of funds through a public process during FY22. Recommended uses currently include funding low to moderate income housing projects and maintaining a portion as reserves to support our response to the ongoing pandemic. The City will continue to monitor its operations and finances should the economy shift and react to the uncertain COVID-19 pandemic and other events. Despite the negative impacts COVID-19, the City has seen strong resort tax collections and building activity continues to show The City as a desirable place to be. REQUESTS FOR INFORMATION This financial report is designed to provide a general overview of the City’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 Finance Director, City of Whitefish, P.O. Box 158, Whitefish, MT 59937. 13 ---PAGE BREAK--- BASIC FINANCIAL STATEMENTS 14 ---PAGE BREAK--- 15 ---PAGE BREAK--- 16 ---PAGE BREAK--- 17 ---PAGE BREAK--- 18 ---PAGE BREAK--- 19 ---PAGE BREAK--- 20 ---PAGE BREAK--- 21 ---PAGE BREAK--- 22 ---PAGE BREAK--- 23 ---PAGE BREAK--- 24 ---PAGE BREAK--- 25 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City complies with generally accepted accounting principles (GAAP). GAAP includes all relevant Governmental Accounting Standards Board (GASB) pronouncements. New Accounting Pronouncements GASB No. 84 Fiduciary Activities is effective for years beginning after December 15, 2019. The Statement establishes accounting and financial reporting standards for fiduciary activities through defining specific criteria on the types of fiduciary activities that includes fiduciary component units and fiduciary activities. The criteria specifically defined in the statement determine the reporting of the fiduciary activities that include pension (and other employee benefit) trust funds, private purpose trust funds, investment trust funds, and custodial funds (previously reported as agency funds). A Statement of Fiduciary Net Position and Statement of Changes in Fiduciary Net Position is required for all of the fiduciary activities previously mentioned above. The City has implemented this pronouncement in the current fiscal year. Financial Reporting Entity In determining the financial reporting entity, the City complies with the provisions of GASB statement No. 14, The Financial Reporting Entity, as amended by GASB statement No. 61, The Financial Reporting Entity: Omnibus, and includes all component unit’s of which the City appointed a voting majority of the component unit’s board; the City is either able to impose its will on the unit or a financial benefit or burden relationship exists. In addition, the City complies with GASB statement No. 39 Determining Whether Certain Organizations Are Component Units which relates to organizations that raise and hold economic resources for the direct benefit of the City. Primary Government The City is a political subdivision of the State of Montana governed by an elected Mayor and Council duly elected by the registered voters of the City. The City utilizes the manager form of government. The City is considered a primary government because it is a general- purpose local government. Further, it meets the following criteria; it has a separately elected governing body it is legally separate and it is fiscally independent from the State and other local governments. 26 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Basis of Presentation, Measurement Focus and Basis of Accounting Government-wide Financial Statements: Basis of Presentation The Government-wide Financial Statements (the Statement of Net Position and the Statement of Activities) display information about the reporting government as a whole and its component units. They include all funds of the City 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 in the consolidation of business-type activities. The Statement of Net Position presents the financial condition of the governmental and business-type activities for the City at year end. 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 charges 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, 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 Position have been eliminated. In the Statement of Activities, 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 Position 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 position are available. 27 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Fund Financial Statements Basis of Presentation Fund financial statements of the reporting City are organized into funds, each of which is considered to be a separate accounting entity. 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 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 governmental funds 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 combined with deferred outflows of resources, liabilities combined with deferred inflows of resources, 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 combined with deferred outflows of resources, liabilities combined with deferred inflows of resources, revenues, or expenditures/expenses of that individual governmental or enterprise funds are at least 5 percent of the corresponding total for all governmental and enterprise funds combined. Measurement Focus and Basis of Accounting Governmental Funds Modified Accrual All governmental funds are accounted for using the current financial resources measurement focus and the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual; i.e., both measurable and available. “Measurable” means the amount of the transaction can be determined. “Available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The City defined the length of time used for “available” for purposes of revenue recognition in the governmental fund financial statements as collection within 60 days of the end of the current fiscal period, except for property taxes and other state grants that are recognized upon receipt. 28 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 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. Property taxes, franchise fees, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other grant requirements have been met. Entitlements and shared revenues are recorded at the time of receipt or earlier if the susceptible to accrual criteria are met. All other revenue items are considered to be measurable and available only when cash is received by the government. Major Funds: The City reports the following major governmental funds: General Fund – This is the City’s primary operating fund and it accounts for all financial resources of the City except those required to be accounted for in other funds. Resort Tax Fund — A special revenue fund established in 1995 to provide budget opportunity to implement City Ordinance 95-15, the Resort Tax Ordinance. The ordinance imposes a 3% resort tax on a range of good and services sold by establishments within the City. The Ordinance specifies that of the 2% is distributed as follows: property tax relief should be provided to Whitefish taxpayers in the amount equal to 25% of the tax revenues derived during the preceding fiscal year, an amount equal to 65% of these revenues shall be used for repair and improvement of existing infrastructure and an amount equal to 5% of the revenues shall be used for bicycle paths and other park improvements. Finally, each collecting merchant is entitled to withhold 5% to defray costs of collecting the tax. Of the other 1% of the resort tax, 25% goes to additional tax relief, 70% to secure and be pledged to the repayment of a loan or a bond to finance a portion of the costs of, or to otherwise pay for, the acquisition of the Haskill Basin Conservation Easement, and the remaining 5% for the merchants' costs of administration. Street and Alley – A special revenue funds used to account for the activities of the City’s street maintenance, repairs, and improvements. 29 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Fire and Ambulance Fund — A special revenue fund established to account for the activities of the City's fire and ambulance services. Tax Increment Revenue Bond Debt Fund — A debt service fund that was established to account for the payment of principal and interest on long-term debt. Proprietary Funds: 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 the 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 proprietary funds. 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 connections with a proprietary fund’s principal ongoing operations. The principal operating revenues for 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. When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first, then unrestricted resources as they are needed. Major Funds: The City reports the following major proprietary funds: Water Fund – An enterprise fund that accounts for the activities of the City’s water distribution operations. Sewer Fund – An enterprise fund that accounts for the activities of the City’s sewer collection and treatment operations and includes the storm sewer system. Solid Waste Fund – An enterprise fund that accounts for the activities of the City’s solid waste service. Fiduciary Funds Fiduciary funds presented using the economic resources measurement focus and the accrual basis of accounting (except for the recognition of certain liabilities of defined benefit pension plans and certain postemployment healthcare plans). The required financial statements are a statement of fiduciary net position and a statement of changes in fiduciary net position. The fiduciary funds are: Custodial Funds – To report fiduciary activities that are not required to be reported in any of the other fiduciary categories in which the resources held by the City in a custodial capacity. This fund primarily consist reporting of resources held by the City as an agent for individuals, private organizations, other local governmental entities. 30 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 NOTE 2. CASH, CASH EQUIVALENTS, AND INVESTMENTS Cash Composition Composition of cash, deposits and investments at fair value on June 30, 2021, are as follows: Primary Government Cash on hand and deposits: Cash on hand Petty Cash $ 1,050 Cash in banks: Demand deposits 16,853,912 Savings deposits 394,320 Time deposits 6,554,011 Credit union deposits 106,457 Investments: State Short-Term Investment Pool (STIP) 10,752,120 Total $ 34,661,870 Cash equivalents Cash equivalents are short-term, highly liquid deposits and investments that both readily convertible to known amounts of cash, and have maturities at purchase date of three months or less. The City’s cash and cash equivalents (including restricted assets) are considered to be cash on hand, demand, savings and time deposits, STIP, and all other short-term investments with original maturity dates of three months or less from the date of acquisition. For purposes of the statement of cash flows, the enterprise funds consider all funds (including restricted assets) held in the City’s cash management pool to be cash equivalents. Fair Value Measurements Investments, are reported at fair value, with the following limited exceptions: 1) investments in non-negotiable certificates of deposit are reported at cost and 2) money market investments, including U.S Treasury and Agency obligations, which mature within one year of acquisition, are reported at amortized cost. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between markets participates at the measurement date. 31 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Credit Risk As a means of limiting exposure to credit risk, the City is required to follow specific state statutes adding security to the deposits and investments. Below are the legal provisions provided in the state Montana Code Annotated (MCA). Section 7-6-202, MCA, limits investments of public money of a local government in the following eligible securities: United States government treasury bills, notes and bonds and in the United States treasury obligations, such as state and local government series separate trading of registered interest and principal of securities (STRIPS), or similar United States treasury obligations; United States treasury receipts in a form evidencing the holder’s ownership of future interest or principal payments on specific United States treasury obligations that, in the absence of payment default by the United States, are held in a special custody account by an independent trust company in a certificate or book entry form with the federal reserve bank of New York; or Obligations of the following agencies of the United States, subject to the limitations in subsection 2 (not included): federal home loan bank; (ii) federal national mortgage association; (iii) federal home mortgage corporation; and (iv) federal farm credit bank. With the exception of the assets of a local government group self-insurance program, investments may not have a maturity date exceeding 5 years except when the investment is used in an escrow account to refund an outstanding bond issue in advance. Section 7-6-205 and Section 7-6-206, MCA, state that demand deposits may be placed only in banks and public money not necessary for immediate use by a county, city, or town that is not invested as authorized in Section 7-6-202, MCA, may be placed in time or savings deposits with a bank, savings and loan association, or credit union in the state or placed in repurchase agreements as authorized in Section 7-6-213, MCA. The government has no investment policy that would further limit its investment choices. The government has no investments that require credit risk disclosure. 32 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Short Term Investment Pool (STIP) Credit Quality ratings by the S&P’s rating services as of June 30, 2021, (in thousands): Audited financial statements for the State of Montana’s Board of Investments are available at 2401 Colonial Drive 3rd Floor in Helena, Montana. NOTE 3. CAPITAL ASSETS The City’s assets are capitalized at historical cost or estimated historical cost. City policy has set the capitalization threshold for reporting capital assets at $5,000. Gifts or contributions of capital assets are recorded at fair market value when received. The costs of normal maintenance and repairs are charged to operations as incurred. Improvements are capitalized and depreciated over the remaining useful lives of the related capital assets, as applicable. Depreciation is recorded on a straight-line basis over the useful lives of the assets as follows: Buildings 10 – 40 years Improvements 5 – 20 years Equipment 3 – 40 years Infrastructure 10 – 40 years In June 1999, the Governmental Accounting Standards Board (GASB) issued Statement No. 34 which requires the inclusion of infrastructure capital assets in local governments’ basic financial statements. In accordance with Statement No. 34, the City has included the value of all infrastructure into the 2021 Basic Financial Statements. Security Investment Type Total Fixed Income Investments at Fair Value Credit Quality Rating WAM (Days) Treasuries $ 789,021 A-1+ 99 Agency or Government Related 724,008 A-1+ 87 Corporate: Commercial Paper 913,481 A-1+ 153 Notes 250,494 A-1 111 Certificates of Deposit 405,071 A-1 142 Total Investments $ 3,082,075 33 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 A summary of changes in governmental capital assets was as follows: Governmental activities: Balance Balance July 1, 2020 Additions Deletions Transfers June 30, 2021 Capital assets not being depreciated: Land $ 8,840,793 $ - $ - $ - $ 8,840,793 Construction in progress 7,787,754 3,798,158 - (8,104,987) 3,480,925 Total capital assets not being depreciated $ 16,628,547 $ 3,798,158 $ - $ (8,104,987) $ 12,321,718 Other capital assets: Buildings $ 37,279,486 $ 18,014 $ - $ 69,228 $ 37,366,728 Improvements other than buildings 3,301,556 133,188 - - 3,434,744 Machinery and equipment 8,940,536 591,690 (117,513) - 9,414,713 Infrastructure 46,281,592 2,089,243 - 8,035,759 56,406,594 Total other capital assets at historical cost $ 95,803,170 $ 2,832,135 $ (117,513) $ 8,104,987 $ 106,622,779 Less: accumulated depreciation (35,442,100) (3,985,422) 102,334 - (39,325,188) Total $ 76,989,617 $ 2,644,871 $ (15,179) $ - $ 79,619,309 Governmental activities depreciation expense was charged to functions as follows: Governmental Activities: General government $ 475,214 Public safety 452,641 Public works 2,238,056 Culture and recreation 662,342 Housing and community development 157,169 Total governmental activities depreciation expense $ 3,985,422 A summary of changes in business-type capital assets was as follows: Business-type activities: Balance Balance July 1, 2020 Additions Transfers June 30, 2021 Capital assets not being depreciated: Land $ 602,783 $ - $ - $ 602,783 Haskill Basin Conversation Easement 7,730,248 - - 7,730,248 Construction in progress 12,416,763 20,691,068 (95,714) 33,012,117 Total capital assets not being depreciated $ 20,749,794 $ 20,691,068 $ (95,714) $ 41,345,148 Other capital assets: Machinery and equipment $ 134 $ - $ - $ 134 Buildings 834,865 - 8,434 843,299 Pumping plant 3,170,905 - - 3,170,905 Treatment plant 16,515,158 - - 16,515,158 Transmission distribution 22,435,464 - 78,570 22,514,034 General Plant 2,881,365 164,086 8,710 3,054,161 Total other capital assets at historical cost $ 45,837,891 $ 164,086 $ 95,714 $ 46,097,691 Less: accumulated depreciation (23,111,211) (1,360,184) (24,471,395) Total $ 43,476,474 $ 19,494,970 $ - $ 62,971,444 34 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 NOTE 4. LONG TERM DEBT OBLIGATIONS In the governmental-wide and proprietary financial statements, outstanding debt is reported as liabilities. Bond issuance costs, bond discounts or premiums, are expensed at the date of sale. The governmental fund financial statements recognize the proceeds of debt and premiums as other financing sources of the current period. Issuance costs are reported as expenditures. Changes in Long-Term Debt Liabilities - During the year ended June 30, 2021, the following changes occurred in liabilities reported in long-term debt: Governmental Activities: Balance Balance Due Within July 1, 2020 Additions Deletions Restatements June 30, 2021 One Year Special assessment bond $ 1,100,043 $ - $ (94,132) $ - $ 1,005,911 $ 95,416 Revenue bonds 3,733,000 - (3,733,000) - - - Compensated absences 1,560,631 138,673 - - 1,699,304 1,396,617 Intercap loans 440,190 - (161,489) (290) 278,411 115,536 Capital leases - 192,811 (38,562) - 154,249 38,562 Total $ 6,833,864 $ 331,484 $ (4,027,183) $ (290) $ 3,137,875 $ 1,646,131 In prior years the general fund was used to liquidate compensated absences and claims and judgments. Business-type Activities: Balance Balance Due Within July 1, 2020 Additions Deletions June 30, 2021 One Year Revenue bonds $ 9,986,026 $ 22,324,250 $ (2,395,000) $ 29,915,276 $ 2,594,000 Compensated absences 299,920 17,943 - 317,863 233,670 Total $ 10,285,946 $ 22,342,193 $ (2,395,000) $ 30,233,139 $ 2,827,670 Special Assessment Debt - Special assessment bonds are payable from the collection of special assessments levied against benefited property owners within defined special improvement districts. The bonds are issued with specific maturity dates, but must be called and repaid earlier, at par plus accrued interest, if the related special assessments are collected. Rural special improvement districts bonds were issued with revolving fund backing. The City is not obligated to levy and collect a general property tax on all taxable property in the City to provide additional funding for the debt service payments. The cash balance in the Revolving Fund must equal at least 5% of the principal amount of bonds outstanding. Special assessment bonds outstanding as of June 30, 2021, were as follows: 35 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Purpose Origination Date Interest Rate Bond Term Maturity Date Bonds Amount Annual Payment Balance June 30, 2021 SID #166 - JP Road Project 7/6/06 3.65-4.80% 20yrs 7/1/26 $ 1,360,000 Varies $ 320,000 SID #167 (Glacier Bank) 1/5/17 4.36% 20yrs 7/1/37 389,500 Varies 342,956 SID #167 (First Interstate Bank) 1/5/17 4.36% 20yrs 7/1/37 389,500 Varies 342,955 $ 2,139,000 $ 1,005,911 Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2022 $ 95,416 $ 44,840 2023 96,758 40,443 2024 98,156 35,958 2025 99,618 31,376 2026 96,144 26,730 2027 37,736 22,258 2028 39,400 20,594 2029 41,136 18,858 2030 42,950 17,044 2031 44,842 15,152 2032 46,820 13,174 2033 48,884 11,110 2034 51,038 8,956 2035 53,288 6,706 2036 55,636 4,358 2037 58,089 1,905 Total $ 1,005,911 $ 319,462 Revenue Bonds - The City also issues bonds where the City pledges income derived from the acquired or constructed assets to pay debt service. Revenue bonds outstanding, net of an unamortized premium at year-end were as follows: Purpose Origination Date Interest Rate Bond Term Maturity Date Bonds Amount Annual Payment Balance June 30, 2021 Water WRF #08110 - 2007 – Refunding 11/27/12 2.25% 20 yrs 1/1/27 668,000 Varies 279,000 Water #06098 2006 – Refunding 11/27/12 2.25% 20 yrs 7/1/26 693,000 Varies 273,000 36 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Water SRF (2009B) 10/21/09 0.75% 20 yrs 7/1/29 120,100 Varies 48,000 Water System Reevnue Bond, Taxable Series 2016 (Haskill Basin) 1/1/16 2.50% 8 yrs 1/1/25 8,219,500 Varies 3,940,000 Water DNRC Series 2015 12/7/15 2.50% 30 yrs 1/1/36 120,000 Varies 94,000 WRF Series 2020 A – 21466 9/23/20 2.50% 20 yrs 7/1/40 6,000,000 Varies 5,765,000 WRF Series 2020 B – 21478 4/7/21 2.50% 20 yrs 1/1/41 5,000,000 Varies 1,732,620 Sewer SRF 2002 Series – Refunding 11/27/12 2.00% 20 yrs 7/1/22 107,000 Varies 12,000 Sewer DNRC (2008A) – Refunding 11/27/12 2.25% 20 yrs 1/1/27 372,000 Varies 155,000 Sewer DNRC (2008B) – Refunding 1/16/09 2.25% 20 yrs 1/1/27 1,262,000 Varies 528,000 Sewer DNRC (2010B) 2/4/10 0.75% 20 yrs 1/1/30 48,211 Varies 26,000 Sewer 2011B 8/1/11 3.00% 20 yrs 7/1/31 340,000 Varies 195,000 Sewer 2011C 8/1/11 3.00% 20 yrs 7/1/31 350,000 Varies 209,000 Sewer - 2014A - River Lakes 11/20/14 2.50% 20 yrs 1/1/35 249,799 Varies 171,000 Sewer 2014 3/6/14 3.00% 20 yrs 1/1/34 452,300 Varies 312,000 Sewer DNRC 2015(2) 12/17/15 2.50% 20 yrs 7/1/36 960,000 Varies 741,000 Sewer I & I 7/21/16 2.50% 20 yrs 1/1/36 439,085 Varies 349,000 SRF Series 2020 B – 20485 5/6/20 2.50% 20 yrs 1/1/40 10,000,000 Varies 9,410,000 SRF Series 2020 A – 20484 5/6/20 2.50% 20 yrs 1/1/40 350,000 Varies 350,000 SRF Series 2020 C – 21498 11/19/20 2.50% 20 yrs 7/1/40 9,575,000 Varies 5,325,656 $62,308,995 $ 29,915,276 Reported in Business-type activities Annual requirement to amortize debt: 37 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 For Fiscal Year Ended Principal Interest 2022 $ 2,594,000 $ 647,035 2023 2,728,500 663,837 2024 2,883,500 583,801 2025 2,397,500 518,241 2026 1,775,500 470,115 2027 1,664,500 427,832 2028 1,609,500 386,520 2029 1,648,500 346,218 2030 1,445,120 306,591 2031 1,476,500 270,493 2032 1,464,500 233,986 2033 1,503,500 197,296 2034 1,038,156 162,560 2035 1,010,500 137,373 2036 993,500 110,397 2037 955,500 86,116 2038 979,500 61,898 2039 1,003,500 37,440 2040 708,500 12,207 2041 17,[PHONE REDACTED] 17,500 329 Total $ 29,915,276 $ 5,661,051 Intercap Loans Intercap loans have variable interest rates. Interest rates are subject to change annually. Interest rates to the borrower are adjusted on February 16th of each year and are based on a spread over the interest paid on one-year term, tax-exempt bonds which are sold to fund the loans. Intercap loans outstanding as of June 30, 2021, were as follows: Purpose Origination Date Interest Rate Term Maturity Date Principal Amount Balance June 30, 2021 Fire Pumper Type 1 6/20/2014 1.00-1.55% 10yrs 8/15/2024 $ 202,453 $ 72,914 Fire Pumper 10/3/2014 1.00-1.55% 10 yrs 8/15/2024 282,659 101,854 Water Tender Fire Apparatus 2/13/2015 1.00-1.55% 7 yrs 2/15/2022 211,000 31,084 Fire SCBAs 12/4/2015 1.25-2.5% 5 yrs 2/15/2021 230,453 - Ambulance 2018 2/16/2018 3.15% 5 yrs 2/15/2023 175,000 72,559 Total $ 1,101,565 $ 278,411 Reported in the governmental activities. Annual requirement to amortize debt: 38 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 For Fiscal Year Ended Principal Interest 2022 $ 115,536 $ 16,881 2023 86,437 10,061 2024 49,905 4,823 2025 26,533 1,137 Total $ 278,411 $ 32,902 Capital Leases The City has entered into a lease which meets the criteria of a capital lease as defined by Statement of Financial Accounting Standards No. 13, "Accounting for Leases," which defines a capital lease generally as one which transfers benefits and risks of ownership to the lessee when all terms of the lease agreements are met. Capital lease obligations outstanding as of June 30, 2021, were as follows: Purpose Origination Date Interest Rate Term Maturity Date Principal Amount Balance June 30, 2021 Cisco Equipment Lease 7/20/20 0.00% 5 years 7/20/25 $ 192,811 $ 154,249 Reported in the governmental activities. Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2022 $ 38,562 $ - 2023 38,562 - 2024 38,562 - 2025 38,563 - Total $ 154,249 $ - Compensated Absences 39 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Compensated absences are absences for which employees will be paid for time off earned for time during employment, such as earned vacation and sick leave. 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, but the excess cannot be carried forward more than 90 days into the new calendar year. 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, while the liability associated with proprietary fund-type employees is recorded in the business-type activities/respective proprietary fund. NOTE 5. POSTEMPLOYMENT HEALTHCARE PLAN Plan Description. The City of Whitefish provides a single-employer defined benefit post- employment health care plan that covers eligible retired employees of the City. A former covered employee whose employment with the City terminates due solely to retirement can continue coverage under the plan as a retiree if they have met the eligibility requirements and are receiving a retirement benefit from a qualified pension plan. Eligibility requirements are as follows: PERS: Age 55 with 5 years of service or 25 years of service regardless of age FURS: Age 50 with 5 years of service or 20 years of service regardless of age MPORS: Age 50 with 5 years of service or 20 years of service regardless of age Coverage will continue for as long as the retiree is enrolled under the plan and the applicable premiums are paid, provided a break in coverage does not occur. If a break in coverage occurs, the retiree is no longer eligible to participate or re-enroll in the plan. The retiree’s termination of coverage from the plan does not apply to the retiree’s spouse, provided the retiree is terminating because of Medicare coverage. The spouse of a retiree is permitted to maintain coverage unless the spouse is also eligible for Medicare coverage or the spouse has or is eligible for equivalent coverage. No assets have been accumulated in a trust that meets the criteria in paragraph 4 of Statement 75. Benefits Provided. Retirees enrolling in the plan may choose medical, dental, and vision benefits. All benefits are provided through the Montana Municipal Interlocal Authority. Those who retired prior to 2017 may also have life insurance but it is not available to later retirees. The table below presents a high-level summary of the medical benefits offered in the plan year beginning July 1, 2020. PPO Plan HDHP 40 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Medical Deductible (Individual/Family) $500/$1000 $2,800/$5,600 Out-of-Pocket Maximum (Individual/Family) $1,500/$3,000 $5,250/$10,500 Coinsurance (In Network/Out of Network) $20%/40% 20%/40% Prescription Copays: Generic $4 Deductible Brand Formulary $20 Applies, 20% Brand Non-Formulary $50 Coinsurance Premium Rates. Retirees pay 100% of the active premium. The City does not make an explicit contribution for retiree coverage. Premiums for the plan year ending 6/30/2020 are shown in the following table: Coverage Category Bridger Plan HDHP Dental Vision EE Only $675 $444 $33 $8.15 EE + Spouse $1,264 $832 $66 $13.00 EE + Child $1,181 $777 $58 $13.25 Family $1,777 $1,169 $92 $21.35 Employees covered by benefit terms. At June 30, 2020, the following employees were covered by the benefit terms: Inactive employees or beneficiaries receiving benefit payments 19 Active employees 91 Total employees 110 Total OPEB Liability The City’s total OPEB liability of $1,961,860 at June 30, 2021, was determined by the application of roll forward procedures to the actuarial valuation as of June 30, 2020. Actuarial assumptions and other input. The total OPEB liability in the June 30, 2020 actuarial valuation was determined using the following assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Measurement Date June 30, 2021 Valuation Date June 30, 2020 Discount Rate (average anticipated rate) 2.18% Payroll Growth Rate 3.50% General Inflation 3.00% per year Mortality Rate: 41 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Age Male Female 50 0.1879% 0.1578% 55 0.3010% 0.2458% 60 0.5271% 0.4135% 65 0.9041% 0.7624% 70 1.4636% 1.3151% 75 2.5057% 2.2077% 80 4.2816% 3.6037% 85 7.3750% 6.0833% 90 13.0721% 10.5549% Termination Before Retirement: Service PERS FURS MPORS 0 30.0% 4.25% 16.0% 1 22.5% 4.25% 13.0% 2 15.0% 4.25% 11.0% 3 12.5% 4.25% 9.0% 4-5 10.0% 3.00% 7.0% 6 8.0% 3.00% 7.0% 7 6.0% 2.00% 7.0% 8-9 6.0% 2.00% 5.0% 10 6.0% 2.00% 2.0% 11 - 14 4.0% 1.00% 2.0% 15+ 2.0% 1.00% 2.0% The discount rate was based on the S&P Municipal Bond 20 Year High Grade Rate Index as of June 30, 2021, and decreased from 2.66% to 2.18% per the roll forward. Payroll Growth Rate was determined by the Pension Actuarial Valuations June 30, 2019. Mortality Rate was determined by the Male and Female RP-2000 Combined Employee and Annuitant Mortality Tables, projected to 2020 using scale BB, males set back 1 year, from Pension Actuarial Valuations June 30, 2019. Termination rates were set based on PERS, FURS, and MPORS Pension Actuarial Valuations June 30, 2019. Retirement Rate as Follows: 42 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 PERS FURS MPORS <30 Years 30+ Years 50 0% 10% 5% 12% 51 3% 10% 10% 15% 52 3% 10% 10% 15% 53 3% 10% 10% 15% 54 3% 10% 10% 15% 55 3% 15% 25% 20% 56 4% 15% 25% 20% 57 5% 15% 25% 20% 58 5% 15% 25% 20% 59 6% 15% 25% 20% 60 8% 15% 50% 20% 61 15% 15% 50% 20% 62 25% 25% 50% 100% 63 15% 15% 100% 64 15% 15% 65-66 30% 30% 67-69 25% 25% 70 100% 100% Participation Rate – Current active employees: 50% of active employees are assumed to elect the City healthcare coverage in retirement. 0% are assumed to continue the medical plan after age 65. Based on a study of current retirees. Current retirees: Current retirees are assumed to continue their existing election until age 65; however, 0% of the retirees currently under age 65 are assumed to continue their existing medical plan election beyond age 65. Based on a study of current retirees. Participation Rate Life Insurance – Current active employees: No life insurance benefit is available in retirement. Current retirees: Only those who retired prior to 2017 have the benefit. They are assumed to continue their existing election for their remaining lifetime. Spousal Coverage – Current active employees: 95% of those assumed to elect coverage in retirement are assumed to be married and 60% of the married participants are assumed to elect coverage for their spouse in retirement. Based on a study of current retirees. Husbands are assumed to be 3 years older than their wives. Current retirees: Existing elections for spouse coverage are assumed to be maintained until death. Actual spouse information I used where available; otherwise, husbands are assumed to be 3 years older than their wives. Medical Trend Rate: 43 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Effective July 1 Trend Rate 2020 6.1% 2021 5.9% 2022 5.8% 2023 5.6% 2024 5.4% 2025 5.2% 2026+ 5.0% The Medical Trend Rates above were from the PriceWaterhouseCoopers 2019 Assumption and Disclosure Survey. Changes in the Total OPEB Liability Balance at 6/30/2020 $ 1,770,046 Changes for the year: Service Cost $ 153,182 Interest 38,587 Differences in experience (164,207) Change in assumptions 164,252 Changes of benefit terms - Net Changes $ 191,814 Balance at 6/30/2021 $ 1,961,860 Sensitivity of the total OPEB liability to changes in the discount rate. The following summarizes the total OPEB liability reported, and how that liability would change if the discount rate used to calculate the OPEB liability were to decrease or increase 1% Decrease (1.18%) Discount Rate (2.18%) 1% Increase (3.18%) Total OPEB Liability $ 2,373,859 $ 1,961,860 $ 1,639,798 44 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Sensitivity of the total OPEB liability to changes in the healthcare cost trend rates. The following summarizes the total OPEB liability reported, and how that liability would change if the healthcare trend rates used in projecting the benefit payments were to decrease or increase 1% Decrease Healthcare Cost Trends* 1% Increase Total OPEB Liability $ 1,537,314 $ 1,961,860 $ 2,548,775 *Reference the assumptions footnotes to determine the healthcare cost trends used to calculate the OPEB liability. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended June 30, 2021, the District recognized an OPEB expense of $191,814. At June 30, 2021, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: Deferred Inflows Deferred Outflows Balance at 6/30/2020 $(1,050,375) $ 397,542 Changes for the year: Service Cost - - Interest - - Differences in experience 164,207 - Current year amortization of experience differences (128,296) 5,336 Change in assumptions - (164,251) Current year amortization of assumption changes (77,991) 89,928 Changes of benefit terms - - Net Changes $ (42,080) $ (68,987) Balance at 6/30/2021 $(1,008,295) $ 466,529 45 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: OPEB: Year ended June 30: Amount recognized in OPEB Expense as an increase or (decrease) to OPEB Expense 2021 $ (67,721) 2022 $ (67,721) 2023 $ (67,721) 2024 $ (67,721) 2025 $ (67,721) 2026 $ (67,721) 2027 (67,721) 2028 $ (67,718) NOTE 6. NET PENSION LIABILITY As of June 30, 2021, the City reported the following balances as its proportionate share of PERS, MPORS, and FURS pension amounts: City's/Town's Proportionate Share Associated With: PERS MPORS FURS Pension Totals Net Pension Liability $ (6,136,059) $ (1,526,943) $ (1,133,976) $ (8,796,978) Deferred outflows of resources* $ 1,444,879 $ 613,464 $ 492,534 $ 2,550,877 Deferred inflows of resources $ (185,754) $ (27,337) $ (4,820) $ (217,911) Pension expense $ 845,313 $ 603,148 $ 482,103 $ 1,930,564 *Deferred outflows for PERS, MPORS, and FURS are reported as of the reporting date which includes employer contributions made subsequent to the measurement date of $389,603 and $159,703, and $189,260, respectively. These amounts will be recognized as a reduction of the net pension liability in the year ending June 30, 2021. Total deferred inflows and outflows in the remainder of the note are as of the measurement date of June 30, 2021. The following are the detailed disclosures for each retirement plan as required by GASB 68. 46 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Public Employee’s Retirement System – Defined Benefit Retirement Plan Summary of Significant Accounting Policies The City’s employees participate in the Public Employees Retirement System (PERS) administered by the Montana Public Employee Retirement Administration (MPERA), MPERA prepared financial statements using the accrual basis of accounting. The same accrual basis was used by MPERA for the purposes of determining the NPL; Deferred Outflows of Resources and Deferred Inflows of Resources related to pensions; Pension Expense; the Fiduciary Net Position; and Additions to, or Deductions from, Fiduciary Net Position. Member contributions are recognized in the period in which contributions are due. Employer contributions are recognized when due and the employer has made a formal commitment to provide the contributions. Revenues are recognized in the accounting period they are earned and become measurable. Benefit payments and refunds are recognized in the accounting period in which they are due and payable in accordance with the benefit terms. Expenses are recognized in the period incurred. Investments are reported at fair value. MPERA adhered to all accounting principles generally accepted by the United States of America. MPERA applied all applicable pronouncements of the Governmental Accounting Standards Board (GASB). Plan Descriptions The PERS-Defined Benefit Retirement Plan (PERS) administered by the Montana Public Employee Retirement Administration (MPERA), is a multiple-employer, cost-sharing plan established July 1, 1945, and governed by Title 19, chapters 2 & 3, Montana Code Annotated (MCA). This plan provides retirement benefits to covered employees of the State, local governments, certain employees of the Montana University System, and school districts. All new members are initially members of the PERS-DBRP and have a 12-month window during which they may choose to remain in the PERS-DBRP or join the defined contribution retirement plan ( PERS-DCRP) by filing an irrevocable election. Members may not be participants of both the defined contribution and defined benefit retirement plans. For members that choose to join the PERS-DCRP, a percentage of the employer contributions will be used to pay down the liability of the PERS-DBRP. All new members from the universities also have third option to join the university system’s Montana University System Retirement Program (MUS-RP). The PERS-DBRP provides retirement, disability, and death benefits to plan members and their beneficiaries. Benefits are established by state law and can only be amended by the Legislature. 47 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Summary of Benefits Service retirement: Hired prior to July 1, 2011: o Age 60, 5 years of membership service; o Age 65, regardless of membership service; or o Any age, 30 years of membership service. Hired on or after July 1, 2011: o Age 65, 5 years of membership service; o Age 70, regardless of membership service. Early Retirement (actuarially reduced): Hired prior to July 1, 2011: o Age 50, 5 years of membership service; or o Any age, 25 years of membership service. Hired on or after July 1, 2011: o Age 55, 5 years of membership service. Second Retirement (requires returning to PERS-covered employer or PERS service): 1) Retire before January 1, 2016 and accumulate less than 2 years additional service credit or retire on or after January 1, 2016 and accumulate less than 5 years additional service credit: a. A refund of member’s contributions plus return interest (currently 2.02% effective July 1, 2018). b. No service credit for second employment; c. Start the same benefit amount the month following termination; and d. Guaranteed Annual Benefit Adjustment (GABA) starts again in the January immediately following the second retirement. 2) Retire before January 1, 2016 and accumulate at least 2 years of additional service credit: a. A recalculated retirement benefit based on provisions in effect after the initial retirement; and b. GABA starts on the recalculated benefit in the January after receiving the new benefit for 12 months. 3) Retire on or after January 1, 2016 and accumulate 5 or more years of service credit: a. The same retirement as prior to the return to service; b. A second retirement benefit as prior to the second period of service based on laws in effect upon the rehire date; and c. GABA starts on both benefits in the January after receiving the original and the new benefit for 12 months. Vesting 5 years of membership service 48 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Member’s highest average compensation (HAC) Hired prior to July 1, 2011- highest average compensation during any consecutive 36 months; Hired on or after July 1, 2011-highest average compensation during any consecutive 60 months; Compensation Cap Hired on or after July 1, 2013-110% annual cap on compensation considered as a part of a member’s highest average compensation. benefit formula Members hired prior to July 1, 2011: Less than 25 years of membership service: 1.785% of HAC per year of service credit; 25 years of membership service or more: 2% of HAC per year of service credit. Members hired on or after July 1, 2011: Less than 10 years of membership service: 1.5% of HAC per year of service credit; 10 years or more, but less than 30 years of membership service: 1.785% of HAC per year of service credit; 30 years or more of membership service: 2% of HAC per year of service credit. Guaranteed Annual Benefit Adjustment (GABA) After the member has completed 12 full months of retirement, the member’s benefit increases by the applicable percentage (provided below) each January, inclusive of other adjustments to the member’s benefit. 3.0% for members hired prior to July 1, 2007 1.5% for members hired between July 1, 2007 and June 30, 2013 Members hired on or after July 1, 2013: • 1.5% for each year PERS is funded at or above 90%; • 1.5% is reduced by 0.1% for each 2% PERS is funded below 90%; and • 0% whenever the amortization period for PERS is 40 years or more. Contributions The state Legislature has the authority to establish and amend contributions rates. Member and employer contribution rates are specified by Montana Statute and are a percentage of the member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers 49 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Special Funding: The state of Montana, as the non-employer contributing entity, paid to the Plan, additional contributions that qualify as special funding. Those employers who received special funding are all participating employers Member and employer contribution rates are shown in the table below. Fiscal Member State & Universities Local Government School Districts Year Hired < 07/01/11 Hired > 07/01/11 Employer Employer State Employer State 2021 7.900% 7.900% 8.870% 8.770% 0.100% 8.500% 0.370% 2020 7.900% 7.900% 8.770% 8.670% 0.100% 8.400% 0.370% 2019 7.900% 7.900% 8.670% 8.570% 0.100% 8.300% 0.370% 2018 7.900% 7.900% 8.570% 8.470% 0.100% 8.200% 0.370% 2017 7.900% 7.900% 8.470% 8.370% 0.100% 8.100% 0.370% 2016 7.900% 7.900% 8.370% 8.270% 0.100% 8.000% 0.370% 2015 7.900% 7.900% 8.270% 8.170% 0.100% 7.900% 0.370% 2014 7.900% 7.900% 8.170% 8.070% 0.100% 7.800% 0.370% 2012 – 2013 6.900% 7.900% 7.170% 7.070% 0.100% 6.800% 0.370% 2010 – 2011 6.900% 7.170% 7.070% 0.100% 6.800% 0.370% 2008 – 2009 6.900% 7.035% 6.935% 0.100% 6.800% 0.235% 2000 - 2007 6.900% 6.900% 6.800% 0.100% 6.800% 0.100% 1. Rates are specified by state law and are a percentage of the member’s compensation. a. Contributions are deducted from each member’s salary and remitted by participating employers; b. The State legislature has the authority to establish and amend contribution rates to the plan. 2. Member contributions to the system: a. Plan members are required to contribute 7.90% of member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers. b. The 7.90% member contributions is temporary and will be decreased to 6.9% on January 1 following actuary valuation results that show the amortization period has dropped below 25 years and would remain below 25 years following the reduction of both the additional employer and additional member contribution rates. 3. Employer contributions to the system: a. Effective July 1, 2014, following the 2013 Legislative session, PERS-employer contributions increase an additional 0.1% a year and will continue over 10 years through 2024. The additional employer contributions including the 0.27% added in 2007 and 2009, will terminate on January 1 following actuary valuation results that show the amortization period has dropped below 25 years and would remain below the 25 years following the reduction of both the additional employer and additional member contributions rates. b. Effective July 1, 2013, employers are required to make contributions on working retirees’ compensation. Member contributions for working retirees are not required. 50 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 c. The portion of the employer contributions allocated to the Plan Choice Rate (PCR) are included in the employers reporting. The PCR was paid off effective March 2016 and the contributions previously directed to the PCR are now directed to member accounts. 4. Non-Employer Contributions a. Special Funding i. The State contributes 0.1% of members’ compensation on behalf of local government entities. ii. The State contributes 0.37% of members’ compensation on behalf of school district entities. iii. The State contributed a statutory appropriation from its General Fund of $33,951,150. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions GASB Statement 68 allows a measurement date of up to 12 months before the employer’s fiscal year-end can be utilized to determine the Plan’s TPL. The basis for the TPL as of June 30, 2020, was determined by taking the results of the June 30, 2019, actuarial valuation and applying standard roll forward procedures. The roll forward procedure uses a calculation that adds the annual normal cost (also called the service cost), subtracts the actual benefit payments and refunds for the plan year, and then applies the expected investment rate of return for the year. The roll forward procedure will include the effects of any assumption changes and legislative changes. The update procedures are in conformity with Actuarial Standards and Practice issued by the Actuarial Standards Board. The Total Pension Liability (TPL minus the Fiduciary Net Position equals the Net Pension Liability (NPL). The proportionate shares of the employer’s and the state of Montana’s NPL for reporting periods June 30, 2021, and 2020, are displayed below. The City proportionate share equals the ratio of the employer’s contributions to the sum of all employer and non-employer contributions during the measurement period. The state’s proportionate share for a particular employer equals the ratio of the contributions for the particular employer to the total state contributions paid. The City recorded a liability of $6,136,059 and the City’s proportionate share was 0.232584 percent. Net Pension Liability as of 6/30/2021 Net Pension Liability as of 6/30/2020 Percent of Collective NPL as of 6/30/2021 Percent of Collective NPL as of 6/30/2020 Change in Percent of Collective NPL Employer Proportionate Share $ 6,136,059 $ 4,615,578 0.232584% 0.220808% 0.011776% State of Montana Proportionate Share associated with Employer 1,933,198 1,503,159 0.073277% 0.071911% 0.001366% Total $ 8,069,257 $ 6,118,737 0.305861% 0.292719% 0.013142% 51 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Changes in actuarial assumptions and methods: The following changes in assumptions or other inputs were made that affected the measurement of the TPL. 1. The discount rate was lowered from 7.65% to 7.34% 2. The investment rate of return was lowered from 7.65% to 7.34% 3. The inflation rate was reduced from 2.75% to 2.40% Changes in benefit terms: There were no changes in benefit terms since the previous measurement date Changes in proportionate share: There were no changes between the measurement date of the collective NPL and the employer’s reporting date that are expected to have a significant effect on the employer’s proportionate share of the collective NPL. However, each employer may have unique circumstances that will impact the employer’s proportionate share of the collective net pension. If there were changes that are expected to have an impact on the net pension liability, the employer should disclose the amount of the expected resultant change in the employer’s proportionate share of the collective net pension liability, if known. Pension Expense: At June 30, 2021, the City recognized a Pension Expense of $879,231 for its proportionate share of the pension expense. The City also recognized grant revenue of $316,159 for the support provided by the State of Montana for its proportionate share of the pension expense that is associated with the City. Pension Expense as of 6/30/21 Pension Expense as of 6/30/20 Employer Proportionate Share $ 879,231 $ 636,684 State of Montana Proportionate Share associated with the Employer 316,159 102,049 Total $ 1,195,390 $ 738,733 Recognition of Beginning Deferred Outflow At June 30, 2021, the City recognized a beginning deferred outflow of resources for the City’s fiscal year 2020 contributions of $381,426. 52 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Recognition of Deferred Inflows and Outflows: At June 30, 2021, the City reported its proportionate share of the Plan’s deferred outflows of resources and deferred inflows of resources from the following sources: Deferred Outflows of Resources Deferred Inflows of Resources Differences between expected and actual economic experience $ 99,049 $ 175,439 Actual vs. Expected Investment Earnings 531,328 - Changes in Assumptions 424,899 - Changes in Proportion Share and Differences between Employer Contributions and Proportionate Share of Contributions - 10,315 Employer contributions sunsequent to the measurement date - FY21 389,603 - Total $ 1,444,879 $ 185,754 Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows: For the Measurement Year ended June 30: Recognition of Deferred Outflows and Deferred Inflows in Future years as an increase or (decrease) to Pension Expense 2021 $ 136,988 2022 $ 414,138 2023 $ 185,650 2024 $ 132,746 Thereafter $ - 53 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Actuarial Assumptions The total pension liability used to calculate the NPL was determined by taking the results of the June 30, 2020 actuarial valuation was determined using the following actuarial assumptions. Investment Return (net of admin expense) 7.34% Admin Expense as % of Payroll 0.30% General Wage Growth* 3.50% *includes Inflation at 2.40% Merit Increases 0% to 4.8% Postretirement Benefit Increase Below: Guaranteed Annual Benefit Adjustment (GABA) After the member has completed 12 full months of retirement, the member’s benefit increases by the applicable percentage each January, Inclusive of other adjustments to the member’s benefit. 3% for members hired prior to July 1, 2007 1.5% for members hired between July 1, 2007 and June 30, 2013 Member hired on or after July 1, 2013: • 1.5% for each year PERS is funded at or above 90%; • 1.5% is reduced by 0.1% for each 2% PERS is funded below 90%; and • 0% whenever the amortization period for PERS is 40 years or more. Mortality assumptions among contributing members, service retired members and beneficiaries based on RP 2000 Combined Employee and Annuitant Mortality Tables projected to 2020 with scale BB, males set back 1 year. Mortality assumptions among Disabled members are based on RP 2000 Combined Mortality Tables with no projections. The most recent experience study, performed for the period covering fiscal years 2011 through 2016, is outlined in a reported dated May 5, 2017 and can be located on the MPERA website. The long-term expected return on pension plan assets is reviewed as part of the regular experience studies prepared for the Plan. The long-term rate of return as of June 30, 2020, was calculated using the average long-term capital market assumptions published by the Survey of Capital Market Assumptions, 2020 Edition by Horizon Actuarial Services, LLC, yielding a median real rate of return of 4.94%. The assumed inflation is based on the intermediate inflation of 2.4% in the 2020 OASDI Trustees Report by the Chief Actuary for Social Security to produce 75-year cost projections. Combining these two results yields a nominal return of 7.34%. Best estimates of arithmetic real rates of return for each major asset class included in the target asset allocation as of June 30, 2020, are summarized in the table below. 54 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Asset Class Target Asset Allocation Long-Term Expected Real Rate of Return Arithmetic Basis Cash Equivalents 2.00% 0.11% Domestic Equity 30.00% 6.19% Foreign Equity 16.00% 6.92% Private Equity 14.00% 10.37% Natural Resources 4.00% 3.43% Real Estate 9.00% 5.74% Core Fixed Income 20.00% 1.57% Non-Core Fixed Income 5.00% 3.97% Total 100% Discount Rate The discount rate used to measure the TPL was 7.34%. The projection of cash flows used to determine the discount rate assumed that contributions from participating plan members, employers, and non-employer contributing entities would be made based on the Board's funding policy, which established the contractually required rates under the Montana Code Annotated. The state contributed 0.10% of the salaries paid by local governments and 0.37% paid by school districts. In addition, the state contributed coal severance tax and interest money from the general fund. The interest was contributed and the severance tax was contributed quarterly. Based on those assumptions, the Plan's fiduciary net position was projected to be adequate to make all the projected future benefit payments of current plan members through the year 2123. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the TPL. A municipal bond rate was not incorporated in the discount rate. Current Discount Rate $ 8,445,922 $ 6,136,059 $ 4,195,790 1.0% Decrease (6.34%) 1.0% Increase (8.34%) In accordance with GASB 68 regarding the disclosure of the sensitivity of the net pension liability to changes in the discount rate, the above table presents the net pension liability calculated using the discount rate of 7.34%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1.00% lower (6.34%) or 1.00% higher (8.34%) than the current rate. PERS Disclosure for the defined contribution plan The City of Whitefish contributed to the state of Montana Public employee Retirement System Defined Contribution Retirement Plan (PERS-DCRP) for employees that have elected the DCRP. The PERS-DCRP is administered by the PERB and is reported as a multiple-employer plan established July 1, 2002, and governed by Title 19, chapters 2 & 3, MCA. 55 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 All new PERS members are initially members of the PERS-DBRP and have a 12-month window during which they may choose to remain in the PERS-DBRP or join the PERS- DCRP by filing an irrevocable election. Members may not be participants of both the defined benefit and defined contribution retirement plans. Member and employer contributions rates are specified by state law and are a percentage of the member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers. The state Legislature has the authority to establish and amend contribution rates. Benefits are dependent upon eligibility and individual account balances. Participants are vested immediately in their own contributions and attributable income. Participants are vested after 5 years of membership service for the employer’s contributions to individual accounts and the attributable income. Non-vested contributions are forfeited upon termination of employment per 19-3-2117(5), MCA. Such forfeitures are used to cover the administrative expenses of the PERS-DCRP. At the plan level for the measurement period ended June 30, 2020, the PERS-DCRP employer did not recognize any net pension liability or pension expense for the defined contribution plan. Plan level non-vested forfeitures for the 329 employers that have participants in the PERS-DCRP totaled $775,195. Pension plan fiduciary net position: The stand-alone financial statements (76d) of the Montana Public Employees Retirement Board (PERB) Comprehensive Annual Financial Report (CAFR) and the GASB 68 Report disclose the Plan’s fiduciary net position. The reports are available from the PERB at PO Box 200131, Helena MT 59620-0131, (406) 444-3154 or both are available on the MPERA website at Municipal Police Officers’ Retirement System Summary of Significant Accounting Policies The Montana Public Employee Retirement Administration (MPERA) prepared financial statements using the accrual basis of accounting. The same accrual basis was used by MPERA for the purposes of determining the NPL; Deferred Outflows of Resources and Deferred Inflows of Resources related to pensions; Pension Expense; the Fiduciary Net Position; and, Additions to or Deductions from Fiduciary Net Position. Member contributions are recognized in the period in which contributions are due. Employer contributions are recognized when due and the employer has made a formal commitment to provide the contributions. Revenues are recognized in the accounting period they are earned and become measurable. Benefit payments and refunds are recognized in the accounting period in which they are due and payable in accordance with the benefit terms. Expenses are recognized in the period incurred. Investments are reported at fair value. MPERA adhered to all accounting principles generally accepted by the United States of America. MPERA applied all applicable pronouncements of the Governmental Accounting Standards Board (GASB). 56 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Plan Descriptions The Municipal Police Officers’ Retirement System (MPORS), administered by the Montana Public Employee Retirement Administration (MPERA), is a multiple-employer, cost- sharing defined benefit plan established in 1974 and governed by Title 19, chapters 2 & 9, MCA. This plan provides retirement benefits to all municipal police officers employed by first- and second-class cities and other cities that adopt the plan. Benefits are established by state law and can only be amended by the Legislature. The MPORS provides retirement, disability, and death benefits to plan members and their beneficiaries. Deferred Retirement Option Plan (DROP): Beginning July 2002, eligible members of MPORS can participate in the DROP by filing a one-time irrevocable election with the Board. The DROP is governed by Title 19, Chapter 9, Part 12, MCA. A member must have completed at least twenty years of membership service to be eligible. They may elect to participate in the DROP for a minimum of one month and a maximum of 60 months and may only participate in the DROP once. A participant remains a member of the MPORS, but will not receive membership service or service credit in the system for the duration of the member’s DROP period. During participation in the DROP, all mandatory contributions continue to the retirement system. A benefit is calculated based on salary and years of service to date as of the beginning of the DROP period. The benefit is paid into the member’s DROP account until the end of the DROP period. At the end of the DROP period, the participant may receive the balance of the DROP account in a lump-sum payment or in a direct rollover to another eligible plan, as allowed by the IRS. If the participant continues employment after the DROP period ends, they will again accrue membership service and service credit. The DROP account cannot be distributed until employment is formally terminated. Summary of Benefits MPORS provides retirement, disability, and death benefits to plan members and their beneficiaries. Benefits are based on eligibility, years of service, and compensation. Member rights are vested after five years of service. Service Retirement 20 years of membership service, regardless of age. Age 50 with 5 years of membership service (Early Retirement). 2.5% of FAC x years of service credit. Second Retirement Re-calculated using specific criteria for members who return to covered MPORS employment prior to July 1, 2017: Less than 20 years of membership service, upon re-employment, repay benefits and subsequent retirement is based on total MPORS service. More than 20 years of membership service, upon re-employment, receives initial benefit and a new retirement benefit based on additional service credit and FAC after re-employment. 57 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Applies to members re-employed in a MPORS position after July 1, 2017: If the member works more than 480 hours in a calendar year and accumulates less than 5 years of service credit before terminating again, the member: o Is not awarded service credit for the period of reemployment; o Is refunded the accumulated contributions associated with the period of reemployment; o Starting the first month following termination of service, receives the same retirement benefit previously paid to the member; and o Does not accrue post-retirement benefit adjustments during the term of reemployment but receives a Guaranteed Annual Benefit Adjustment (GABA) in January immediately following second retirement. If the member works more than 480 hours in a calendar year and accumulates at least 5 years of service credit before terminating again, the member: o Is awarded service credit for the period of reemployment; o Starting the first month following termination of service, receives: o The same retirement benefit previously paid to the member, and o A second retirement benefit for the period of reemployment calculated based on the laws in effect as of the member’s rehire date; and o Does not accrue post-retirement benefit adjustments during the term of reemployment but receives a GABA: o On the initial retirement benefit in January immediately following second retirement, and o On the second retirement benefit starting in January after receiving that benefit for at least 12 months. A member who returns to covered service is not eligible for a disability benefit. Vesting 5 years of membership service Member’s Final Average Compensation (FAC) Hired prior to July 1, 1977 - average compensation of final year of service; Hired on or after July 1, 1977 - final average compensation (FAC) for last consecutive 36 months. Compensation Cap Hired on or after July 1, 2013: 110% annual cap on compensation considered as a part of a member’s FAC. Guaranteed Annual Benefit Adjustment (GABA) Hired on or after July 1, 1997, or those electing GABA, and has been retired for at least 12 months, a GABA will be made each year in January equal to 58 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Minimum benefit adjustment (non-GABA) The minimum benefit adjustment provided may not be less than 50% of the compensation paid to a newly confirmed police officer of the employer that last employed the member as a police officer in the current fiscal year. Contributions The State Legislature has the authority to establish and amend contribution rates to the plan. Member and employer contribution rates are specified by Montana Statute and are a percentage of the member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers. Member Fiscal Year Hired <7/1/75 Hired >6/30/75 Hired >6/30/79 Hired >6/30/97 GABA Employer State 2000-2021 5.800% 7.000% 8.500% 9.000% 14.410% 29.370% 1998-1999 7.800% 9.000% 10.500% 11.000% 14.410% 29.370% 1997 7.800% 9.000% 10.500% 14.360% 29.370% Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions GASB Statement 68 allows a measurement date of up to 12 months before the employer’s fiscal year-end can be utilized to determine the Plan’s TPL. The basis for the TPL as of June 30, 2020, was determined by taking the results of the June 30, 2019, actuarial valuation and applying standard roll forward procedures. The roll forward procedure uses a calculation that adds the annual normal cost (also called the service cost), subtracts the actual benefit payments and refunds for the plan year, and then applies the expected investment rate of return for the year. The roll forward procedure will include the effects of any assumption changes and legislative changes. The update procedures are in conformity with Actuarial Standards and Practice issued by the Actuarial Standards Board. The Total Pension Liability (TPL minus the Fiduciary Net Position equals the Net Pension Liability (NPL). The proportionate shares of the City’s and the state of Montana NPLS for reporting periods June 30, 2021, and 2020, are displayed below. The City proportionate share equals the ratio of the employer’s contributions to the sum of all employer and non- employer contributions during the measurement period. The state’s proportionate share for a particular employer equals the ratio of the contributions for the particular employer to the total state contributions paid. The City recorded a liability of $1,526,943 and the City’s proportionate share was 0.6243 percent. 59 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Net Pension Liability as of 6/30/2021 Net Pension Liability as of 6/30/2020 Percent of Collective NPL as of 6/30/2021 Percent of Collective NPL as of 6/30/2020 Change in Percent of Collective NPL Employer Proportionate Share $ 1,526,943 $ 1,215,267 0.62430% 0.6106% 0.0137% State of Montana Proportionate Share associated with Employer 3,079,695 2,474,698 1.2591% 1.2433% 0.0158% Total $ 4,606,638 $ 3,689,965 1.8834% 1.8539% 0.0295% Changes in actuarial assumptions and methods: The following changes in assumptions or other inputs were made that affected the measurement of the TPL. 1. The discount rate was lowered from 7.65% to 7.34% 2. The investment rate of return was lowered from 7.65% to 7.34% 3. The inflation rate was reduced from 2.75% to 2.40% Changes in benefit terms: There were no changes in benefit terms since the previous measurement date Changes in proportionate share: Between the measurement date of the collective NPL and the employer’s reporting date there were some changes in proportion that may have an effect on the employer’s proportionate share of the collective NPL. However, each employer may have unique circumstances that will impact the employer’s proportionate share of the collective net pension. If there were changes that are expected to have an impact on the net pension liability, the employer should disclose the amount of the expected resultant change in the employer’s proportionate share of the collective net pension liability, if known. 60 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Pension Expense: At June 30, 2021, the City recognized a Pension Expense of $250,351 for its proportionate share of the pension expense. The City also recognized grant revenue of $514,206 for the support provided by the State of Montana for its proportionate share of the pension expense that is associated with the employer. Pension Expense as of 6/30/21 Pension Expense as of 6/30/20 Employer Proportionate Share $ 250,351 $ 185,895 State of Montana Proportionate Share associated with the Employer 514,206 296,448 Total $ 764,557 $ 482,343 Recognition of Beginning Deferred Outflow At June 30, 2021, the City recognized a beginning deferred outflow of resources for the City‘s fiscal year 2020 contributions of $154,105. Recognition of Deferred Inflows and Outflows: At June 30, 2021, the City reported its proportionate share of the Plan’s deferred outflows of resources and deferred inflows of resources from the following sources: Deferred Outflows of Resources Deferred Inflows of Resources Differences between expected and actual economic experience $ 73,190 $ 4,820 Actual vs. Expected Investment Earnings 118,745 - Changes in Assumptions 129,760 - Changes in Proportion Share and Differences between Employer Contributions and Proportionate Share of Contributions 11,136 - Employer contributions sunsequent to the measurement date - FY21 159,703 - Total $ 492,534 $ 4,820 61 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows: For the Measurement Year ended June 30: Recognition of Deferred Outflows and Deferred Inflows in Future years as an increase or (decrease) to Pension Expense 2021 $ 99,138 2022 $ 114,704 2023 $ 86,732 2024 $ 27,437 Thereafter $ - Actuarial Assumptions The TPL used to calculate the NPL was determined by taking the results of the June 30, 2020 actuarial valuation was determined using the following actuarial assumptions. Investment Return (net of admin expense) 7.34% Admin Expense as % of Payroll 0.15% General Wage Growth* 3.50% *includes Inflation at 2.40% Merit Increases 0% to 6.60% Postretirement Benefit Increases Guaranteed Annual Benefit Adjustment (GABA) Hired on or after July 1, 1997, or those electing GABA - after the member has completed 12 full months of retirement, the member’s benefit increases by a maximum of 3% each January, inclusive of all other adjustments to the member’s benefit. Minimum benefit adjustment (non-GABA) If hired before July 1, 1997 and member did not elect GABA - the retirement, disability or survivor’s benefit may not be less than ½ the compensation of a newly confirmed officer in the city that the member was last employed. Mortality assumptions among contributing members, terminated vested members, service retired members and beneficiaries were based on RP 2000 Combined Employee and Annuitant Mortality Tables projected to 2020 with scale Bb, set back one year for males. Mortality assumptions among Disabled Retirees were based on RP 2000 Combined Mortality Tables. 62 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 The most recent experience study, performed for the period covering fiscal years 2011 through 2016, is outlined in a reported dated May 5, 2017 and can be located on the MPERA website. The long-term expected return on pension plan assets is reviewed as part of the regular experience studies prepared for the Plan. The long-term rate of return as of June 30, 2020, was calculated using the average long-term capital market assumptions published in the Survey of Capital Market Assumptions 2020 Edition by Horizon Actuarial Service, LLC, yielding a median real rate of return of 4.94%. The assumed inflation is based on the intermediate inflation of 2.4% in the 2020 OASDI Trustees Report by the Chief Actuary for Social Security to produce 75-year cost projections. Combining these two results yields a nominal return of 7.34%. Best estimates of arithmetic real rates of return for each major asset class included in the target asset allocation as of June 30, 2020, are summarized below. Asset Class Target Asset Allocation Long-Term Expected Real Rate of Return Arithmetic Basis Cash 2.00% 0.11% Domestic Equity 30.00% 6.19% Foreign Equity 16.00% 6.92% Private Investments 14.00% 10.37% Natural Resources 4.00% 3.43% Real Estate 9.00% 5.74% Core Fixed Income 20.00% 1.57% Non-Core Fixed Income 5.00% 3.97% Total 100% Discount Rate The discount rate used to measure the TPL was 7.34%. The projection of cash flows used to determine the discount rate assumed that contributions from participating plan members, employers, and non-employer contributing entities would be made based on the Board’s funding policy, which established the contractually required rates under the Montana Code Annotated. The state contributed 29.37% of the salaries paid by employers. Based on those assumptions, the Plan’s fiduciary net position was projected to be adequate to make all the projected future benefit payments of current plan members through the year 2134. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the TPL. A municipal bond rate was not incorporated in the discount rate. Current Discount Rate $ 2,176,753 $ 1,526,943 $ 1,008,543 1.0% Decrease (6.34%) 1.0% Increase (8.34%) 63 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 In accordance with GASB 68 regarding the disclosure of the sensitivity of the net pension liability to changes in the discount rate, the above table presents the net pension liability calculated using the discount rate of 7.34%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1.00% lower (6.34%) or 1.00% higher (8.34%) than the current rate. Pension plan fiduciary net position: The stand-alone financial statements (76d) of the Montana Public Employees Retirement Board (PERB) Comprehensive Annual Financial Report (CAFR) and the GASB 68 Report disclose the Plan’s fiduciary net position. The reports are available from the PERB at PO Box 200131, Helena MT 59620-0131, (406) 444-3154 or both are available on the MPERA website at Firefighters’ Unified Retirement System Summary of Significant Accounting Policies The Montana Public Employee Retirement Administration (MPERA) prepared financial statements using the accrual basis of accounting. The same accrual basis was used by MPERA for the purposes of determining the NPL; Deferred Outflows of Resources and Deferred Inflows of Resources related to pensions; Pension Expense; the Fiduciary Net Position; and, Additions to or Deductions from Fiduciary Net Position. Member contributions are recognized in the period in which contributions are due. Employer contributions are recognized when due and the employer has made a formal commitment to provide the contributions. Revenues are recognized in the accounting period they are earned and become measurable. Benefit payments and refunds are recognized in the accounting period in which they are due and payable in accordance with the benefit terms. Expenses are recognized in the period incurred. Investments are reported at fair value. MPERA adhered to all accounting principles generally accepted by the United States of America. MPERA applied all applicable pronouncements of the Governmental Accounting Standards Board (GASB). Plan Descriptions The Firefighters’ Unified Retirement System (FURS), administered by the Montana Public Employee Retirement Administration (MPERA), is a multiple-employer, cost-sharing defined benefit plan established in 1981, and governed by Title 19, chapters 2 & 13, MCA. This plan provides retirement benefits to firefighters employed by first- and second-class cities, other cities and rural fire district departments that adopt the plan, and to firefighters hired by the Montana Air National Guard on or after October 1, 2001. Benefits are established by state law and can only be amended by the Legislature. The FURS provide retirement, disability, and death benefits to plan members and their beneficiaries. Benefits are based on eligibility, years of service and highest average compensation. Member rights are vested after five years of service. 64 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Summary of Benefits Service retirement Hired on or after July 1, 1981, or has elected to be covered by GABA: o 20 years of membership service o 2.5% of HAC x years of service credit Hired prior to July 1, 1981, and who had not elected to be covered by GABA, the greater of above, or: o If membership service is less than 20 years: 2% of the highest compensation (HMC) x years of service credit and o If membership services is greater or equal to 20 years: 50% of HMC + 2% of HMC x years of service credit in excess of 20 Early retirement Age 50 with 5 years of membership service – Normal retirement benefit calculated using HAC and service credit Second retirement Applies to members re-employed in a FURS position after July 1, 2017: 1) If the member works more than 480 hours in a calendar year and accumulates less than 5 years of service credit before terminating again, the member: a. Is not awarded service credit for the period of reemployment; b. Is refunded the accumulated contributions associated with the period of reemployment; c. Starting the first month following termination of service, receives the same retirement benefit previously paid to the member; and d. Does not accrue post-retirement benefit adjustments during the term of reemployment but receives a Guaranteed Annual Benefit Adjustment (GABA) in January immediately following second retirement. 2) If the member works more than 480 hours in a calendar year and accumulates at least 5 years of service credit before terminating again, the member: a. Is awarded service credit for the period of reemployment; b. Starting the first month following termination of service, receives: i. The same retirement benefit previously paid to the member, and ii. A second retirement benefit for the period of reemployment calculated based on the laws in effect as of the member’s rehire date; and c. Does not accrue post-retirement benefit adjustments during the term of reemployment but receives a GABA: i. On the initial retirement benefit in January immediately following second retirement, and ii. On the second retirement benefit starting in January after receiving that benefit for at least 12 months. 65 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 3) A member who returns to covered service is not eligible for a disability benefit. Vesting 5 years of membership service. Member’s compensation period used in benefit calculation Hired prior to July 1, 1981 and not electing GABA: highest compensation (HMC); Hired after June 30, 1981 and those electing GABA: highest average compensation (HAC) during any consecutive 36 months (or shorter period of total service). Part-time firefighter: 15% of regular compensation of a newly confirmed full-time firefighter. Compensation Cap Hired on or after July 1, 2013: 110% annual cap on compensation considered as a part of a member’s HAC. Guaranteed Annual Benefit Adjustment (GABA) Hired on or after July 1, 1997, or those electing GABA, and has been retired for at least 12 months – the member’s benefit increases by 3.0% each January. Minimum Benefit Adjustment (non-GABA) If hired before July 1, 1997 and member did not elect GABA - the minimum benefit adjustment is provided equal to 50% of the current base compensation of a newly confirmed active firefighter of the employer that last employed the member as a firefighter. Contributions Rates are specified by state law for periodic member and employer contributions and are a percentage of the member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers. The State legislature has the authority to establish and amend contribution rates to the plan. Member and employer contribution rates are shown in the table below. Member Fiscal Year Non-GABA GABA Employer State 1998-2021 9.500% 10.700% 14.360% 32.610% 1997 7.800% 14.360% 32.610% 66 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions GASB Statement 68 allows a measurement date of up to 12 months before the employer’s fiscal year-end can be utilized to determine the Plan’s TPL. The basis for the TPL as of June 30, 2020, was determined by taking the results of the June 30, 2019, actuarial valuation and applying standard roll forward procedures. The roll forward procedure uses a calculation that adds the annual normal cost (also called the service cost), subtracts the actual benefit payments and refunds for the plan year, and then applies the expected investment rate of return for the year. The roll forward procedure will include the effects of any assumption changes and legislative changes. The update procedures are in conformity with Actuarial Standards and Practice issued by the Actuarial Standards Board. The Total Pension Liability (TPL minus the Fiduciary Net Position equals the Net Pension Liability (NPL). The proportionate shares of the City’s and the state of Montana NPLS for reporting periods June 30, 2021 and 2020, are displayed below. The City proportionate share equals the ratio of the employer’s contributions to the sum of all employer and non- employer contributions during the measurement period. The state’s proportionate share for a particular employer equals the ratio of the contributions for the particular employer to the total state contributions paid. The City recorded a liability of $1,133,976 and the City’s proportionate share was 0.7247 percent. Net Pension Liability as of 6/30/2021 Net Pension Liability as of 6/30/2020 Percent of Collective NPL as of 6/30/2021 Percent of Collective NPL as of 6/30/2020 Change in Percent of Collective NPL Employer Proportionate Share $ 1,133,976 $ 769,008 0.72470% 0.6704% 0.0543% State of Montana Proportionate Share associated with Employer 2,556,358 1,859,848 1.6337% 1.6213% 0.0124% Total $ 3,690,334 $ 2,628,856 2.3584% 2.2917% 0.0667% Changes in actuarial assumptions and methods: The following changes in assumptions or other inputs were made that affected the measurement of the TPL. 1. The discount rate was lowered from 7.65% to 7.34% 2. The investment rate of return was lowered from 7.65% to 7.34% 3. The inflation rate was reduced from 2.75% to 2.40% 67 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Changes in benefit terms: There were no changes in benefit terms since the previous measurement date Changes in proportionate share: There were no changes between the measurement date of the collective NPL and the employer’s reporting date that are expected to have a significant effect on the employer’s proportionate share of the collective NPL. However, each employer may have unique circumstances that will impact the employer’s proportionate share of the collective net pension. If there were changes that are expected to have an impact on the net pension liability, the employer should disclose the amount of the expected resultant change in the employer’s proportionate share of the collective net pension liability, if known. Pension Expense: At June 30, 2021, the City recognized a Pension Expense of $205,360 for its proportionate share of the pension expense. The City also recognized grant revenue of $465,173 for the support provided by the State of Montana for its proportionate share of the pension expense that is associated with the City. Pension Expense as of 6/30/21 Pension Expense as of 6/30/20 Employer Proportionate Share $ 205,360 $ 134,706 State of Montana Proportionate Share associated with the Employer 465,173 387,454 Total $ 670,533 $ 522,160 Recognition of Beginning Deferred Outflow At June 30, 2021, the City recognized a beginning deferred outflow of resources for the City’s fiscal year 2020 contributions of $187,038. 68 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Recognition of Deferred Inflows and Outflows: At June 30, 2021, the City reported its proportionate share of the Plan’s deferred outflows of resources and deferred inflows of resources from the following sources: Deferred Outflows of Resources Deferred Inflows of Resources Differences between expected and actual economic experience $ 77,180 $ 5,903 Actual vs. Expected Investment Earnings 145,580 - Changes in Assumptions 201,444 - Changes in Proportion Share and Differences between Employer Contributions and Proportionate Share of Contributions - 21,434 Employer contributions sunsequent to the measurement date - FY21 189,260 - Total $ 613,464 $ 27,337 Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows: For the Measurement Year ended June 30: Recognition of Deferred Outflows and Deferred Inflows in Future years as an increase or (decrease) to Pension Expense 2021 $ 73,614 2022 $ 97,157 2023 $ 91,373 2024 $ 59,581 Thereafter $ 75,142 69 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Actuarial Assumptions The TPL used to calculate the NPL was determined by taking the results of the June 30, 2020 actuarial valuation was determined using the following actuarial assumptions. Investment Return (net of admin expense) 7.65% Admin Expense as % of Payroll 0.23% General Wage Growth* 3.50% *includes Inflation at 2.75% Merit Increases 0% to 6.3% Postretirement Benefit Increases: Guaranteed Annual Benefit Adjustment (GABA) Members hired on or after July 1, 1997, or those electing GABA - after the member has completed 12 full months of retirement, the member’s benefit increases by a maximum of 3% each January, inclusive of all other adjustments to the member’s benefit. Minimum Benefit Adjustment (non-GABA) Members hired before July 1, 1997 and member did not elect GABA - the retirement, disability or survivor’s benefit may not be less than ½ the compensation of a newly confirmed firefighter employed by the city that last employed the member (provided the member has at least 10 years of membership service). Mortality assumptions among contributing members, service retired members and beneficiaries were based on RP 2000 Combined Employee and Annuitant Mortality Tables projected to 2020 using Scale BB, males set back 1 year. Mortality assumptions among Disabled Members were based on RP 2000 Combined Mortality Tables. The most recent experience study, performed for the period covering fiscal years 2011 through 2016, is outlined in a report dated May 5, 2017 and can be located on the MPERA website. The long-term expected return on pension plan assets is reviewed as part of the regular experience studies prepared for the Plan. The long-term rate of return as of June 30, 2020, was calculated using the average long-term capital market assumptions published in the Survey of Capital Market Assumptions 2020 Edition by Horizon Actuarial Service, LLC, yielding a median real rate of return of 4.94%. The assumed inflation is based on the intermediate inflation of 2.4% in the 2020 OASDI Trustees Report by the Chief Actuary for Social Security to produce 75-year cost projections. Combining these two results yields a nominal return of 7.34%. Best estimates of arithmetic real rates of return for each major asset class included in the target asset allocation (78c & 78f) as of June 30, 2020, are summarized below. 70 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE BASIC FINANCIAL STATEMENTS FISCAL YEAR ENDING JUNE 30, 2021 Asset Class Target Asset Allocation Long-Term Expected Real Rate of Return Arithmetic Basis Cash Equivalents 2.00% 0.11% Domestic Equity 30.00% 6.19% Foreign Equity 16.00% 6.92% Private Investments 14.00% 10.37% Natural Resources 4.00% 3.43% Real Estate 9.00% 5.74% Core Fixed Income 20.00% 1.57% Non-Core Fixed Income 5.00% 3.97% Total 100% Discount Rate The discount rate used to measure the TPL was 7.34%. The projection of cash flows used to determine the discount rate assumed that contributions from participating plan members, employers, and non-employer contributing entities would be made based on the Board’s funding policy, which established the contractually required rates under the Montana Code Annotated. For FURS the State contributes 32.61% of salaries paid by employers. Based on those assumptions, the System’s fiduciary net position was projected to be adequate to make all the projected future benefit payments of current plan members through the year 2133. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the TPL. A municipal bond rate was not incorporated in the discount rate. Current Discount Rate $ 1,834,021 $ 1,133,976 $ 571,486 1.0% Decrease (6.34%) 1.0% Increase (8.34%) In accordance with GASB 68 regarding the disclosure of the sensitivity of the net pension liability to changes in the discount rate, the above table presents the net pension liability calculated using the discount rate of 7.34%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1.00% lower (6.34%) or 1.00% higher (8.34%) than the current rate. Pension plan fiduciary net position: The stand-alone financial statements (76d) of the Montana Public Employees Retirement Board (PERB) Comprehensive Annual Financial Report (CAFR) and the GASB 68 Report disclose the Plan’s fiduciary net position. The reports are available from the PERB at PO Box 200131, Helena MT 59620-0131, (406) 444-3154 or both are available on the MPERA website at 71 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2021 NOTE 7. INTERFUND RECEIVABLES AND PAYABLES The composition of interfund balances as of June 30, 2021, was as follows: Advances to/from other funds Purpose Receivable Fund Payable Fund Amount Half of annual assessment SID Revolving – Nonmajor Governmental SID 166 Nonmajor Governmental $ 58,699 Interfund Transfers The following is an analysis of operating transfers in and out during fiscal year 2021: Purpose Receivable Fund Payable Fund Amount Property Tax relief General Fund – Major Governmental Resort Tax – Major Governmental $ 1,124,310 Resort Tax paid debt service for the Haskill Basin Conservation Easement Water Fund – Major Business-Type Resort Tax – Major Governmental 1,175,865 Operating Parks Fund – Nonmajor Governmental General Fund – Major Governmental 883,426 Operating Fire and Ambulance – Major Governmental General Fund – Major Governmental 953,092 Operating Library Fund – Nonmajor Governmental General Fund – Major Governmental 34,371 Operating Parks, Recreation, & Community Service – Nonmajor Governmental Water-Major Business-Type 49,302 Indirect cost allocation transfer General – Major Governmental Parks, Recreation & community Services – Nonmajor Governmental 35,507 Indirect cost allocation transfer General – Major Governmental Library Fund – Nonmajor Governmental 6,292 72 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2021 Indirect cost allocation transfer General – Major Governmental Fire and Ambulance – Major Governmental 65,128 Indirect cost allocation transfer General – Major Governmental Building Codes– Nonmajor Governmental 14,193 Indirect cost allocation transfer General – Major Governmental Lighting District Nonmajor Governmental 757 Indirect cost allocation transfer General – Major Governmental Lighting District Nonmajor Governmental 757 Indirect cost allocation transfer General – Major Governmental Storm Water – Nonmajor Governmental 4,450 Indirect cost allocation transfer General – Major Governmental Streets – Nonmajor Governmental 18,924 Indirect cost allocation transfer General – Major Governmental Water-Major Business-Type 35,345 Indirect cost allocation transfer General – Major Governmental Wastewater-Major Business-Type 33,906 Indirect cost allocation transfer General – Major Governmental Solid Waste- Nonmajor Business- Type 1,288 Property Tax relief General Fund – Major Governmental Water Fund – Major Business-Type 60,168 $4,555,780 NOTE 8. LOCAL RETIREMENT PLANS Deferred Compensation Plan The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan is available to all City employees and permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. 73 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2021 Fire Department Relief Association Disability and Pension Fund City volunteer firefighters are covered by the Fire Department Relief Association Disability and Pension Fund, which is established by State Law. The Association is managed by a Board of Trustees made up of members of the fire department, and is accounted for as a pension trust fund of the town. A member of a volunteer fire department who has served 20 years or more is entitled to benefits regardless of age. Volunteers serving less than 20 years, but more than 10 years, may receive reduced benefits. The amount of the pension benefits is set by the Association’s Board of Trustees. NOTE 9. FUND BALANCE CLASSIFICATION POLICIES AND PROCEDURES Governmental Fund equity is classified as fund balance. The City categorizes fund balance of the governmental funds into the following categories: Non-spendable: - includes resources not in spendable form, such as inventory or those legally requires to be maintained intact, such as principal portion of permanent funds. Restricted: - includes constraint for specific purposes which are externally imposed by a third part, State Constitution, or enabling legislation. Unassigned: - includes negative fund balances in all funds, or fund balance with no constraints in the General Fund. The City considers that committed amounts would be reduced first, followed by assigned amounts, and then unassigned amounts when expenditures are incurred for purposes for which amounts in any of those unrestricted fund balance classification could be used. The government considers that committed amounts would be reduced first, followed by assigned amounts, and then unassigned amounts when expenditures are incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used. Non-spendable Major Fund Amount Purpose of Restriction All Other Aggregate $58,699 Advances to other funds Restricted Fund Balance Major Fund Amount Purpose of Restriction General Resort Tax $11,667 Employee Flex Spending 2,156,375 Street/Park Improvements and Property Tax Relief 74 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2021 Fire & Ambulance 1,715,031 Emergency Services Street & Alley 2,775,255 Maintenance of Streets All Other Aggregate: 132,285 Maintenance of Streets 506,707 Culture & Recreation Services and Improvements 1,036,498 Urban Development 1,370,512 Construction Inspections 1,373,676 Improvements 1,218,569 Storm Drainage 515,991 Affordable Housing 253,145 Utilities 4,567 Miscellaneous 259,641 Debt Service $ 13,329,920 NOTE 10. RESTATEMENTS During the current fiscal year, the following adjustments relating to prior years' transactions were made to fund balance and net position. Fund Amount Reason for Adjustment Library $105,675 Prior Period Cash Adjustment Fire and Ambulance 17,750 Prior Period Expenditure Adjustment Total $ 123,425 NOTE 11. INTERLOCAL AGREEMENT The City of Whitefish, Montana and the City of Columbia Falls, Montana entered into an interlocal agreement or the provision of building code inspection services in August 1999. The City of Whitefish through its building department agreed to provide plan review, site review, and site inspection services relating to the enforcement of the State and City of Columbia Falls technical, building and plumbing codes within the extended jurisdictional limits of Columbia Falls. Columbia Falls agreed to pay Whitefish a sum equal to 65% of the permitting fees paid by the permit applicant on the project inspected, payable on a basis. Whitefish agreed to provide Columbia Falls, on a basis, a report concerning all services provided to Columbia Falls. NOTE 12. JOINT VENTURES Joint ventures are independently constituted entities generally created by two or more governments for a specific purpose which are subject to joint control, in which the participating governments retain 1) an ongoing financial interest or 2) an ongoing financial responsibility. 75 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2021 Flathead Emergency Communications Center (FECC) The Flathead Emergency Communication Center (FECC) provides 911 dispatch services and is operated under an interlocal agreement between Flathead County, the City of Columbia Falls, the City of Whitefish and the City of Kalispell. The FECC operates under the supervision and control of the Flathead Emergency Communications Center Board. The Board consists of six members, the Flathead County Sheriff, a County Commissioner chosen by the Board of County Commissioners, the County Attorney or other elected County officer, and an elected official or designee from each of the cities of Kalispell, Whitefish, and Columbia Falls. The FECC is financed by funds received by all member from the State (9-1-1 fees) pursuant to Section 10-4- 302, M.C. A. Any additional operating funds needed will be shared proportionally by all members. Under the supervision of the Board, the Director shall hire and direct staff to carry out the responsibilities of the FECC. It is a Discretely Presented Component Unit in Flathead County’s CAFR. Big Mountain County Sewer District The City permits the District to connect to the City’s sanitary sewage collection system. The usage rate charged by the City to the District is a $45.77 base rate plus $12.48 per thousand gallons used per the SC2/Outside rate code. NOTE 13. SERVICES PROVIDED TO/BY OTHER GOVERNMENTS County Provided Services The City is provided various financial services by Flathead County. The County also serves as cashier and treasurer for the City for tax and assessment collections and other revenues received by the County which are subject to distribution to the various taxing jurisdictions located in the County. The collections made by the County on behalf of the City are accounted for in an agency fund in the City’s name and are periodically remitted to the City by the County Treasurer. No service charges have been recorded by the City or the County. NOTE 14. RISK MANAGEMENT The City faces considerable number of risks of loss, including damage to and loss of property and contents, employee torts, professional liability, i.e., errors and omissions, environmental damage, workers' compensation, i.e., employee injuries, and medical insurance costs of employees. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal years. Insurance Polices: Commercial policies transferring all risks of loss, except for relatively small deductible amounts are purchased for property and content damage, employee torts, and professional liabilities. Employee medical insurance is provided for by a commercial carrier. And, given the lack of coverage available, the City has no coverage for potential losses from environmental damages. 76 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2021 Insurance Pools: The City participates in the state-wide public safety risk pool, Montana Municipal Insurance Authority for workers’ compensation. 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 are $750,000 per claim and $1.5 million per occurrence with a $3,750 deductible per occurrence. State tort law limits the City’s liability to $1.5 million. 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. Separate audited financial statements are available from the Montana Municipal Insurance Authority. NOTE 15. RESORT TAX In 1995, the citizens of the City of Whitefish approved a 2% resort tax. City Ordinance 15 restricted the tax proceeds as follows: Administration fee to business owners 5% Parks Improvements 5% Street Improvements 65% Tax Relief 25% In April 2015, the voters approved to increase the resort tax by an additional 1% starting July 1, 2015. The 1% tax proceeds are restricted as follows: Tax Relief 25% Debt Service 70% Administration fee to business owners 5% On June 30, 2021, the Resort Tax Fund has a cash balance of $2,178,069 This balance was restricted as follows: Park Improvements $264,066 Street Improvements $379,937 Tax Relief $1,534,066 NOTE 16. WHITEFISH LAKE GOLF COURSE In January 2011, the City leased the Whitefish Lake Golf Course to the Whitefish Lake Golf Club, Inc. The term of the lease is 30 years beginning January 1, 2011 and ending December 21, 2040. The annual rental payments due to the City are $22,375 per year and shall increase by the 77 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2021 December to December change in the Consumer Price Index every five years beginning with the payment due in June 2016. In addition, the City will receive a net profits payment beginning February 2012 of 3% of the prior year’s net profits for the Whitefish Lake Golf Club, Inc. NOTE 17. SUBSEQUENT EVENTS On November 2, 2021, Whitefish voters approve the extension of the City’s 3% resort tax extending the collection period from 2025 to 2045. The extension passed with 89.3% of votes cast in favor of the ballot issue. The City, continues to monitor the effects of the COVID-19 pandemic and new variants of the virus on operations. The City could experience operational changes, shutdowns or financial impacts that will continue to be monitored and may require a response to address changing situations. 78 ---PAGE BREAK--- REQUIRED SUPPLEMENTARY INFORMATION 79 ---PAGE BREAK--- 80 ---PAGE BREAK--- 81 ---PAGE BREAK--- 82 ---PAGE BREAK--- 83 ---PAGE BREAK--- 84 ---PAGE BREAK--- 85 ---PAGE BREAK--- 86 ---PAGE BREAK--- 87 ---PAGE BREAK--- 88 ---PAGE BREAK--- OTHER SUPPLEMENTARY INFORMATION 89 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2210 2220 2310 2394 PARKS, RECREATION LIBRARY FUND TAX INCREMENT BUILDING CODES ASSETS Cash and cash equivalents 410,959.28 207,433.28 1,037,128.02 1,393,389.74 Petty cash 300.00 50.00 0.00 0.00 Cash and cash equivalents - restricted ( 26,537.58) 0.00 0.00 0.00 Taxes receivable: Real estate 0.00 25,666.23 456.10 0.00 Personal 0.00 17.32 0.00 0.00 Protested 0.00 10,070.06 0.00 0.00 Special assessments 55,797.93 0.00 0.00 0.00 Other receivables 3,374.78 0.00 0.00 0.00 Due from other governments 428.35 0.00 0.00 0.00 TOTAL ASSETS 444,322.76 243,236.89 1,037,584.12 1,393,389.74 Deferred Outflows of Resources LIABILITIES Accounts payable 5,214.36 46.78 630.00 800.66 Other accrued payables 74,402.92 9,637.54 0.00 22,076.16 TOTAL LIABILITIES 79,617.28 9,684.32 630.00 22,876.82 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 55,797.93 35,753.61 456.10 0.00 Deferred Inflows of Resources other 0.00 0.00 0.00 0.00 Total Deferred Inflows of Resources 55,797.93 35,753.61 456.10 0.00 FUND BALANCES Unassigned (negative balance only) 308,907.55 197,798.96 1,036,498.02 1,370,512.92 Total Fund Balances 308,907.55 197,798.96 1,036,498.02 1,370,512.92 Total Liabilities, Deferred 444,322.76 243,236.89 1,037,584.12 1,393,389.74 inflows of resources and Fund Balances 90 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 2 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2399 2400 2410 2525 IMPACT FEES LIGHT DISTRICT #1 LIGHT DISTRICT #4 STORM WATER ASSETS Cash and cash equivalents 0.00 82,607.57 173,252.19 1,231,676.67 Petty cash 0.00 0.00 0.00 0.00 Cash and cash equivalents - restricted 909,690.56 0.00 0.00 0.00 Taxes receivable: Real estate 0.00 0.00 0.00 0.00 Personal 0.00 0.00 0.00 0.00 Protested 0.00 0.00 0.00 0.00 Special assessments 0.00 10,682.44 11,428.88 47,017.19 Other receivables 0.00 0.00 0.00 0.00 Due from other governments 0.00 0.00 0.00 0.00 TOTAL ASSETS 909,690.56 93,290.01 184,681.07 1,278,693.86 Deferred Outflows of Resources LIABILITIES Accounts payable 45,189.13 0.00 0.00 6,666.66 Other accrued payables 0.00 1,357.17 1,357.16 6,440.92 TOTAL LIABILITIES 45,189.13 1,357.17 1,357.16 13,107.58 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 10,682.44 11,428.88 47,017.19 Deferred Inflows of Resources other 0.00 0.00 0.00 0.00 Total Deferred Inflows of Resources 0.00 10,682.44 11,428.88 47,017.19 FUND BALANCES Unassigned (negative balance only) 864,501.43 81,250.40 171,895.03 1,218,569.09 Total Fund Balances 864,501.43 81,250.40 171,895.03 1,218,569.09 Total Liabilities, Deferred 909,690.56 93,290.01 184,681.07 1,278,693.86 inflows of resources and Fund Balances 91 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 3 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2821 2917 2945 2987 Gas Tax - Special CRIME VICTIMS ASSI CDBG HOUSING AND C HOUSING REHABILITA ASSETS Cash and cash equivalents 132,284.98 1,473.00 0.00 1,419.27 Petty cash 0.00 0.00 0.00 0.00 Cash and cash equivalents - restricted 0.00 0.00 0.00 0.00 Taxes receivable: Real estate 0.00 0.00 0.00 0.00 Personal 0.00 0.00 0.00 0.00 Protested 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Other receivables 0.00 0.00 0.00 0.00 Due from other governments 0.00 0.00 0.00 0.00 TOTAL ASSETS 132,284.98 1,473.00 0.00 1,419.27 Deferred Outflows of Resources LIABILITIES Accounts payable 0.00 0.00 0.00 0.00 Other accrued payables 0.00 0.00 0.00 0.00 TOTAL LIABILITIES 0.00 0.00 0.00 0.00 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 0.00 0.00 0.00 Deferred Inflows of Resources other 0.00 0.00 0.00 0.00 Total Deferred Inflows of Resources 0.00 0.00 0.00 0.00 FUND BALANCES Unassigned (negative balance only) 132,284.98 1,473.00 0.00 1,419.27 Total Fund Balances 132,284.98 1,473.00 0.00 1,419.27 Total Liabilities, Deferred 132,284.98 1,473.00 0.00 1,419.27 inflows of resources and Fund Balances 92 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 4 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2989 2990 2992 2993 AFFORDABLE HOUSING PARKLAND AQUISITIO SIDEWALK DISTRICTS Cash In-Lieu of Su ASSETS Cash and cash equivalents 389,480.00 0.00 0.00 36,830.00 Petty cash 0.00 0.00 0.00 0.00 Cash and cash equivalents - restricted 0.00 199,017.00 273,327.30 0.00 Taxes receivable: Real estate 0.00 0.00 0.00 0.00 Personal 0.00 0.00 0.00 0.00 Protested 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Other receivables 125,090.95 0.00 0.00 0.00 Due from other governments 0.00 0.00 0.00 0.00 TOTAL ASSETS 514,570.95 199,017.00 273,327.30 36,830.00 Deferred Outflows of Resources LIABILITIES Accounts payable 0.00 0.00 0.00 0.00 Other accrued payables 0.00 0.00 0.00 0.00 TOTAL LIABILITIES 0.00 0.00 0.00 0.00 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 0.00 0.00 0.00 Deferred Inflows of Resources other 0.00 0.00 0.00 0.00 Total Deferred Inflows of Resources 0.00 0.00 0.00 0.00 FUND BALANCES Unassigned (negative balance only) 514,570.95 199,017.00 273,327.30 36,830.00 Total Fund Balances 514,570.95 199,017.00 273,327.30 36,830.00 Total Liabilities, Deferred 514,570.95 199,017.00 273,327.30 36,830.00 inflows of resources and Fund Balances 93 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 5 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2994 Total Nonmajor ARPA - COVID-19 Spec. Rev. Funds ASSETS Cash and cash equivalents 1,059,472.32 6,157,406.32 Petty cash 0.00 350.00 Cash and cash equivalents - restricted 0.00 1,355,497.28 Taxes receivable: Real estate 0.00 26,122.33 Personal 0.00 17.32 Protested 0.00 10,070.06 Special assessments 0.00 124,926.44 Other receivables 0.00 128,465.73 Due from other governments 0.00 428.35 TOTAL ASSETS 1,059,472.32 7,803,283.83 Deferred Outflows of Resources LIABILITIES Accounts payable 0.00 58,547.59 Other accrued payables 0.00 115,271.87 TOTAL LIABILITIES 0.00 173,819.46 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 161,136.15 Deferred Inflows of Resources other 1,059,434.59 1,059,434.59 Total Deferred Inflows of Resources 1,059,434.59 1,220,570.74 FUND BALANCES Unassigned (negative balance only) 37.73 6,408,893.63 Total Fund Balances 37.73 6,408,893.63 Total Liabilities, Deferred 1,059,472.32 7,803,283.83 inflows of resources and Fund Balances 94 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2210 PARKS, RECREATION AND COMMUNITY SERVICES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 509,151.00 509,151.00 529,443.08 20,292.08 Licenses and permits Alcoholic beverage licenses 1,000.00 1,000.00 1,040.00 40.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 5,912.00 5,912.00 10,075.88 4,163.88 State grants 292,133.00 292,133.00 12,485.35 ( 279,647.65) State shared revenues 0.00 0.00 53,062.00 53,062.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 268,270.00 268,270.00 198,759.73 ( 69,510.27) Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 107,195.00 107,195.00 122,309.79 15,114.79 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 1,183,661.00 1,183,661.00 927,175.83 ( 256,485.17) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 81,902.00 81,902.00 82,744.57 ( 842.57) Supplies/services/materials, etc 82,557.00 82,557.00 73,427.59 9,129.41 Public Health Social and Economic Services Culture and Recreation Personal services 1,139,765.00 1,139,765.00 1,110,778.64 28,986.36 Supplies/services/materials, etc 503,355.00 503,355.00 409,004.21 94,350.79 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 330,000.00 330,000.00 53,392.00 276,608.00 95 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 2 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2210 PARKS, RECREATION AND COMMUNITY SERVICES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 2,137,579.00 2,137,579.00 1,729,347.01 408,231.99 Excess of revenues over (under) expenditures ( 953,918.00) ( 953,918.00) ( 802,171.18) 151,746.82 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 932,728.00 932,728.00 932,728.44 0.44 Total other financing sources (uses) 932,728.00 932,728.00 932,728.44 0.44 Net change in fund balance ( 21,190.00) ( 21,190.00) 130,557.26 151,747.26 Fund balance - July 1, 2020 - -As previously reported 178,350.29 178,350.29 178,350.29 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 178,350.29 178,350.29 178,350.29 0.00 Fund balance - June 30, 2021 157,160.29 157,160.29 308,907.55 151,747.26 96 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 3 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2220 LIBRARY FUND Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 274,296.00 274,296.00 267,109.12 ( 7,186.88) Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 795.29 795.29 State grants 2,500.00 2,500.00 2,342.79 ( 157.21) State shared revenues 0.00 0.00 9,737.00 9,737.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 11,000.00 11,000.00 5,235.00 ( 5,765.00) Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 30,000.00 30,000.00 29,360.88 ( 639.12) Investment and royalty earnings 0.00 0.00 781.73 781.73 Total revenues 317,796.00 317,796.00 315,361.81 ( 2,434.19) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 216,133.00 216,133.00 200,952.36 15,180.64 Supplies/services/materials, etc 134,827.00 134,827.00 100,421.97 34,405.03 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 97 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 4 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2220 LIBRARY FUND Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 350,960.00 350,960.00 301,374.33 49,585.67 Excess of revenues over (under) expenditures ( 33,164.00) ( 33,164.00) 13,987.48 47,151.48 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 34,371.00 34,371.00 34,371.00 0.00 Total other financing sources (uses) 34,371.00 34,371.00 34,371.00 0.00 Net change in fund balance 1,207.00 1,207.00 48,358.48 47,151.48 Fund balance - July 1, 2020 - -As previously reported 43,765.56 43,765.56 43,765.56 0.00 Prior period adjustments 105,674.92 105,674.92 105,674.92 0.00 Fund balance - July 1, 2020 - As restated 149,440.48 149,440.48 149,440.48 0.00 Fund balance - June 30, 2021 150,647.48 150,647.48 197,798.96 47,151.48 98 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 5 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2310 TAX INCREMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 1,042,037.93 1,042,037.93 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 45,000.00 0.40 ( 44,999.60) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 0.00 45,000.00 1,042,038.33 997,038.33 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 459,500.00 459,500.00 462,324.61 ( 2,824.61) Conservation of Natural Resources Capital expenditures 1,883,667.00 1,928,667.00 1,924,970.78 3,696.22 99 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 6 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2310 TAX INCREMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 2,343,167.00 2,388,167.00 2,387,295.39 871.61 Excess of revenues over (under) expenditures ( 2,343,167.00) ( 2,343,167.00) ( 1,345,257.06) 997,909.94 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance ( 2,343,167.00) ( 2,343,167.00) ( 1,345,257.06) 997,909.94 Fund balance - July 1, 2020 - -As previously reported 2,381,755.08 2,381,755.08 2,381,755.08 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 2,381,755.08 2,381,755.08 2,381,755.08 0.00 Fund balance - June 30, 2021 38,588.08 38,588.08 1,036,498.02 997,909.94 100 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 7 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2394 BUILDING CODES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 560,000.00 560,000.00 909,079.45 349,079.45 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 480.31 480.31 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 23,954.00 23,954.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 100,000.00 100,000.00 114,045.85 14,045.85 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 500.00 500.00 1,250.06 750.06 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 660,500.00 660,500.00 1,048,809.67 388,309.67 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 423,858.00 423,858.00 388,382.33 35,475.67 Supplies/services/materials, etc 97,406.00 97,406.00 96,462.17 943.83 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 70,000.00 70,000.00 115,570.26 ( 45,570.26) 101 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 8 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2394 BUILDING CODES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 86,049.00 86,049.00 66,801.75 19,247.25 Total expenditures 677,313.00 677,313.00 667,216.51 10,096.49 Excess of revenues over (under) expenditures ( 16,813.00) ( 16,813.00) 381,593.16 398,406.16 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance ( 16,813.00) ( 16,813.00) 381,593.16 398,406.16 Fund balance - July 1, 2020 - -As previously reported 988,919.76 988,919.76 988,919.76 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 988,919.76 988,919.76 988,919.76 0.00 Fund balance - June 30, 2021 972,106.76 972,106.76 1,370,512.92 398,406.16 102 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 9 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2399 IMPACT FEES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 139,500.00 139,500.00 255,966.02 116,466.02 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 2,400.00 2,400.00 3,723.40 1,323.40 Total revenues 141,900.00 141,900.00 259,689.42 117,789.42 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 187,500.00 187,500.00 55,675.69 131,824.31 103 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 10 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2399 IMPACT FEES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 187,500.00 187,500.00 55,675.69 131,824.31 Excess of revenues over (under) expenditures ( 45,600.00) ( 45,600.00) 204,013.73 249,613.73 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance ( 45,600.00) ( 45,600.00) 204,013.73 249,613.73 Fund balance - July 1, 2020 - -As previously reported 660,487.70 660,487.70 660,487.70 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 660,487.70 660,487.70 660,487.70 0.00 Fund balance - June 30, 2021 614,887.70 614,887.70 864,501.43 249,613.73 104 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 11 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2400 LIGHT DISTRICT #1 (Residential) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 105,795.00 105,795.00 109,826.86 4,031.86 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 20.00 20.00 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 105,795.00 105,795.00 109,846.86 4,051.86 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 26,009.00 26,009.00 29,405.99 ( 3,396.99) Supplies/services/materials, etc 49,879.00 49,879.00 43,699.16 6,179.84 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 105 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 12 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2400 LIGHT DISTRICT #1 (Residential) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 75,888.00 75,888.00 73,105.15 2,782.85 Excess of revenues over (under) expenditures 29,907.00 29,907.00 36,741.71 6,834.71 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance 29,907.00 29,907.00 36,741.71 6,834.71 Fund balance - July 1, 2020 - -As previously reported 44,508.69 44,508.69 44,508.69 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 44,508.69 44,508.69 44,508.69 0.00 Fund balance - June 30, 2021 74,415.69 74,415.69 81,250.40 6,834.71 106 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 13 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2410 LIGHT DISTRICT #4 (Commercial) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 102,446.00 102,446.00 107,488.05 5,042.05 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 102,446.00 102,446.00 107,488.05 5,042.05 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 26,009.00 26,009.00 29,406.07 ( 3,397.07) Supplies/services/materials, etc 30,279.00 30,279.00 17,340.13 12,938.87 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 107 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 14 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2410 LIGHT DISTRICT #4 (Commercial) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 56,288.00 56,288.00 46,746.20 9,541.80 Excess of revenues over (under) expenditures 46,158.00 46,158.00 60,741.85 14,583.85 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance 46,158.00 46,158.00 60,741.85 14,583.85 Fund balance - July 1, 2020 - -As previously reported 111,153.18 111,153.18 111,153.18 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 111,153.18 111,153.18 111,153.18 0.00 Fund balance - June 30, 2021 157,311.18 157,311.18 171,895.03 14,583.85 108 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 15 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2525 STORM WATER Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 440,660.00 440,660.00 456,625.15 15,965.15 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 10,000.00 10,000.00 19,850.00 9,850.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 450,660.00 450,660.00 476,475.15 25,815.15 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 152,845.00 152,845.00 134,574.14 18,270.86 Supplies/services/materials, etc 33,904.00 33,904.00 14,499.70 19,404.30 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 430,000.00 430,000.00 96,494.98 333,505.02 109 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 16 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2525 STORM WATER Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 616,749.00 616,749.00 245,568.82 371,180.18 Excess of revenues over (under) expenditures ( 166,089.00) ( 166,089.00) 230,906.33 396,995.33 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance ( 166,089.00) ( 166,089.00) 230,906.33 396,995.33 Fund balance - July 1, 2020 - -As previously reported 987,662.76 987,662.76 987,662.76 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 987,662.76 987,662.76 987,662.76 0.00 Fund balance - June 30, 2021 821,573.76 821,573.76 1,218,569.09 396,995.33 110 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 17 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2821 Gas Tax - Special Roads, Streets, & Bridges Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 90,443.00 90,443.00 0.00 ( 90,443.00) Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 90,443.00 90,443.00 0.00 ( 90,443.00) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 111 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 18 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2821 Gas Tax - Special Roads, Streets, & Bridges Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 0.00 0.00 0.00 0.00 Excess of revenues over (under) expenditures 90,443.00 90,443.00 0.00 ( 90,443.00) OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 4,522.00 4,522.00 0.00 ( 4,522.00) Total other financing sources (uses) 4,522.00 4,522.00 0.00 ( 4,522.00) Net change in fund balance 94,965.00 94,965.00 0.00 ( 94,965.00) Fund balance - July 1, 2020 - -As previously reported 132,284.98 132,284.98 132,284.98 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 132,284.98 132,284.98 132,284.98 0.00 Fund balance - June 30, 2021 227,249.98 227,249.98 132,284.98 ( 94,965.00) 112 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 19 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2917 CRIME VICTIMS ASSISTANCE Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 15,000.00 15,000.00 6,791.04 ( 8,208.96) Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 15,000.00 15,000.00 6,791.04 ( 8,208.96) EXPENDITURES Current: General Government Supplies/services/materials, etc 15,000.00 15,000.00 6,791.04 8,208.96 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 113 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 20 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2917 CRIME VICTIMS ASSISTANCE Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 15,000.00 15,000.00 6,791.04 8,208.96 Excess of revenues over (under) expenditures 0.00 0.00 0.00 0.00 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - -As previously reported 1,473.00 1,473.00 1,473.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 1,473.00 1,473.00 1,473.00 0.00 Fund balance - June 30, 2021 1,473.00 1,473.00 1,473.00 0.00 114 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 21 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2945 CDBG HOUSING AND COMMUNITY DEVELOPMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 400,000.00 400,000.00 0.00 ( 400,000.00) State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 400,000.00 400,000.00 0.00 ( 400,000.00) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 400,000.00 400,000.00 0.00 400,000.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 115 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 22 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2945 CDBG HOUSING AND COMMUNITY DEVELOPMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 400,000.00 400,000.00 0.00 400,000.00 Excess of revenues over (under) expenditures 0.00 0.00 0.00 0.00 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - -As previously reported 0.00 0.00 0.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 0.00 0.00 0.00 0.00 Fund balance - June 30, 2021 0.00 0.00 0.00 0.00 116 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 23 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2987 HOUSING REHABILITATION GRANT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 20,000.00 20,000.00 0.00 ( 20,000.00) Investment and royalty earnings 7,500.00 7,500.00 350.00 ( 7,150.00) Total revenues 27,500.00 27,500.00 350.00 ( 27,150.00) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 28,569.00 28,569.00 0.00 28,569.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 117 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 24 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2987 HOUSING REHABILITATION GRANT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 28,569.00 28,569.00 0.00 28,569.00 Excess of revenues over (under) expenditures ( 1,069.00) ( 1,069.00) 350.00 1,419.00 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance ( 1,069.00) ( 1,069.00) 350.00 1,419.00 Fund balance - July 1, 2020 - -As previously reported 1,069.27 1,069.27 1,069.27 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 1,069.27 1,069.27 1,069.27 0.00 Fund balance - June 30, 2021 0.27 0.27 1,419.27 1,419.00 118 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 25 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2989 AFFORDABLE HOUSING (cash in lieu) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 249,000.00 249,000.00 254,570.95 5,570.95 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 249,000.00 249,000.00 254,570.95 5,570.95 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 509,000.00 509,000.00 0.00 509,000.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 119 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 26 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2989 AFFORDABLE HOUSING (cash in lieu) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 509,000.00 509,000.00 0.00 509,000.00 Excess of revenues over (under) expenditures ( 260,000.00) ( 260,000.00) 254,570.95 514,570.95 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance ( 260,000.00) ( 260,000.00) 254,570.95 514,570.95 Fund balance - July 1, 2020 - -As previously reported 260,000.00 260,000.00 260,000.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 260,000.00 260,000.00 260,000.00 0.00 Fund balance - June 30, 2021 0.00 0.00 514,570.95 514,570.95 120 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 27 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2990 PARKLAND AQUISITION & DEVELOPMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 210.00 210.00 803.45 593.45 Total revenues 210.00 210.00 803.45 593.45 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 34,616.00 34,616.00 3,608.14 31,007.86 121 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 28 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2990 PARKLAND AQUISITION & DEVELOPMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 34,616.00 34,616.00 3,608.14 31,007.86 Excess of revenues over (under) expenditures ( 34,406.00) ( 34,406.00) ( 2,804.69) 31,601.31 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 82,309.68 82,309.68 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 82,309.68 82,309.68 Net change in fund balance ( 34,406.00) ( 34,406.00) 79,504.99 113,910.99 Fund balance - July 1, 2020 - -As previously reported 119,512.01 119,512.01 119,512.01 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 119,512.01 119,512.01 119,512.01 0.00 Fund balance - June 30, 2021 85,106.01 85,106.01 199,017.00 113,910.99 122 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 29 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2992 SIDEWALK DISTRICTS PROJECT (cash in lieu) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 990.00 990.00 1,300.34 310.34 Total revenues 990.00 990.00 1,300.34 310.34 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 272,779.00 272,779.00 6,506.09 266,272.91 123 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 30 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2992 SIDEWALK DISTRICTS PROJECT (cash in lieu) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 272,779.00 272,779.00 6,506.09 266,272.91 Excess of revenues over (under) expenditures ( 271,789.00) ( 271,789.00) ( 5,205.75) 266,583.25 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 6,744.00 6,744.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 6,744.00 6,744.00 Net change in fund balance ( 271,789.00) ( 271,789.00) 1,538.25 273,327.25 Fund balance - July 1, 2020 - -As previously reported 271,789.05 271,789.05 271,789.05 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 271,789.05 271,789.05 271,789.05 0.00 Fund balance - June 30, 2021 0.05 0.05 273,327.30 273,327.25 124 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 31 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2993 Cash In-Lieu of Subdivision Street Tree Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 90.00 90.00 0.00 ( 90.00) Total revenues 90.00 90.00 0.00 ( 90.00) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 41,250.00 41,250.00 4,330.00 36,920.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 125 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 32 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2993 Cash In-Lieu of Subdivision Street Tree Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 41,250.00 41,250.00 4,330.00 36,920.00 Excess of revenues over (under) expenditures ( 41,160.00) ( 41,160.00) ( 4,330.00) 36,830.00 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance ( 41,160.00) ( 41,160.00) ( 4,330.00) 36,830.00 Fund balance - July 1, 2020 - -As previously reported 41,160.00 41,160.00 41,160.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 41,160.00 41,160.00 41,160.00 0.00 Fund balance - June 30, 2021 0.00 0.00 36,830.00 36,830.00 126 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 33 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2994 ARPA - COVID-19 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 0.00 0.00 0.00 0.00 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 0.00 0.00 0.00 0.00 State grants 0.00 0.00 0.00 0.00 State shared revenues 0.00 0.00 0.00 0.00 Charges for services General government 0.00 0.00 0.00 0.00 Public safety 0.00 0.00 0.00 0.00 Public works 0.00 0.00 0.00 0.00 Culture and recreation 0.00 0.00 0.00 0.00 Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 0.00 0.00 0.00 0.00 Investment and royalty earnings 0.00 0.00 37.73 37.73 Total revenues 0.00 0.00 37.73 37.73 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 127 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 34 of 34 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 2994 ARPA - COVID-19 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 0.00 0.00 0.00 0.00 Excess of revenues over (under) expenditures 0.00 0.00 37.73 37.73 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 0.00 0.00 Net change in fund balance 0.00 0.00 37.73 37.73 Fund balance - July 1, 2020 - -As previously reported 0.00 0.00 0.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2020 - As restated 0.00 0.00 0.00 0.00 Fund balance - June 30, 2021 0.00 0.00 37.73 37.73 128 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 2 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - TOTAL NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 274,296.00 274,296.00 1,309,147.05 1,034,851.05 Special assessments 1,158,052.00 1,158,052.00 1,203,383.14 45,331.14 Licenses and permits Alcoholic beverage licenses 1,000.00 1,000.00 1,040.00 40.00 Building permits 560,000.00 560,000.00 909,079.45 349,079.45 Intergovernmental revenue (See supplemental section for detail) Federal grants 405,912.00 405,912.00 11,351.48 ( 394,560.52) State grants 294,633.00 294,633.00 14,828.14 ( 279,804.86) State shared revenues 90,443.00 90,443.00 86,753.00 ( 3,690.00) Charges for services General government 139,500.00 139,500.00 255,966.02 116,466.02 Public safety 100,000.00 100,000.00 114,045.85 14,045.85 Public works 10,000.00 10,000.00 19,850.00 9,850.00 Culture and recreation 279,270.00 279,270.00 203,994.73 ( 75,275.27) Fines and forfeitures Justice court 15,000.00 15,000.00 6,791.04 ( 8,208.96) Miscellaneous 406,695.00 451,695.00 407,512.08 ( 44,182.92) Investment and royalty earnings 11,190.00 11,190.00 6,996.65 ( 4,193.35) Total revenues 3,745,991.00 3,790,991.00 4,550,738.63 759,747.63 EXPENDITURES Current: General Government Supplies/services/materials, etc 15,000.00 15,000.00 6,791.04 8,208.96 Public Safety Personal services 423,858.00 423,858.00 388,382.33 35,475.67 Supplies/services/materials, etc 97,406.00 97,406.00 96,462.17 943.83 Public Works Personal services 286,765.00 286,765.00 276,130.77 10,634.23 Supplies/services/materials, etc 196,619.00 196,619.00 148,966.58 47,652.42 Public Health Social and Economic Services Culture and Recreation Personal services 1,355,898.00 1,355,898.00 1,311,731.00 44,167.00 Supplies/services/materials, etc 679,432.00 679,432.00 513,756.18 165,675.82 Housing and Community Development Supplies/services/materials, etc 1,397,069.00 1,397,069.00 462,324.61 934,744.39 Conservation of Natural Resources Capital expenditures 3,208,562.00 3,253,562.00 2,256,217.94 997,344.06 129 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 2 of 2 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - TOTAL NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2021 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Debt Service Miscellaneous 86,049.00 86,049.00 66,801.75 19,247.25 Total expenditures 7,746,658.00 7,791,658.00 5,527,564.37 2,264,093.63 Excess of revenues over (under) expenditures ( 4,000,667.00) ( 4,000,667.00) ( 976,825.74) 3,023,841.26 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 89,053.68 89,053.68 Transfers in 971,621.00 971,621.00 967,099.44 ( 4,521.56) Total other financing sources (uses) 971,621.00 971,621.00 1,056,153.12 84,532.12 Net change in fund balance ( 3,029,046.00) ( 3,029,046.00) 79,327.38 3,108,373.38 Fund balance - July 1, 2020 - -As previously reported 6,223,891.33 6,223,891.33 6,223,891.33 0.00 Prior period adjustments 105,674.92 105,674.92 105,674.92 0.00 Fund balance - July 1, 2020 - As restated 6,329,566.25 6,329,566.25 6,329,566.25 0.00 Fund balance - June 30, 2021 3,300,520.25 3,300,520.25 6,408,893.63 3,108,373.38 130 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 1 51. COMBINING BALANCE SHEET - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2021 3400 3545 3550 Total Nonmajor SID REVOLVING (SID SID 166 BOND DEBT SID 167 BOND DEBT Debt Service Funds ASSETS Cash and cash equivalents 175,497.01 100,437.23 42,404.83 318,339.07 Taxes receivable: Special assessments 0.00 455,784.61 685,269.87 1,141,054.48 Advances to other funds 58,698.47 0.00 0.00 58,698.47 TOTAL ASSETS 234,195.48 556,221.84 727,674.70 1,518,092.02 Deferred Outflows of Resources LIABILITIES Advances from other funds 0.00 58,698.47 0.00 58,698.47 TOTAL LIABILITIES 0.00 58,698.47 0.00 58,698.47 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 455,784.61 685,269.87 1,141,054.48 Total Deferred Inflows of Resources 0.00 455,784.61 685,269.87 1,141,054.48 FUND BALANCES Unassigned (negative balance only) 234,195.48 41,738.76 42,404.83 318,339.07 Total Fund Balances 234,195.48 41,738.76 42,404.83 318,339.07 Total Liabilities, Deferred 234,195.48 556,221.84 727,674.70 1,518,092.02 inflows of resources and Fund Balances 131 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 4 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2021 3400 SID REVOLVING (SID Bond Collateral) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 750.00 750.00 821.01 71.01 Total revenues 750.00 750.00 821.01 71.01 EXPENDITURES Current: General Government Public Safety Public Works Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Debt Service Principal 0.00 0.00 0.00 0.00 Interest 0.00 0.00 0.00 0.00 Costs and fees 0.00 0.00 0.00 0.00 Total expenditures 0.00 0.00 0.00 0.00 Excess of revenues over (under) expenditures 750.00 750.00 821.01 71.01 OTHER FINANCING SOURCES (USES) Net change in fund balance 750.00 750.00 821.01 71.01 Fund balance - July 1, 2020 - -As previously reported 233,374.47 233,374.47 233,374.47 0.00 Fund balance - July 1, 2020 - As restated 233,374.47 233,374.47 233,374.47 0.00 Fund balance - June 30, 2021 234,124.47 234,124.47 234,195.48 71.01 132 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 2 of 4 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2021 3545 SID 166 BOND DEBT (J.P. Road Project) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Special assessments 107,450.00 107,450.00 106,555.08 ( 894.92) Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 240.00 240.00 528.14 288.14 Total revenues 107,690.00 107,690.00 107,083.22 ( 606.78) EXPENDITURES Current: General Government Public Safety Public Works Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Debt Service Principal 65,000.00 65,000.00 65,000.00 0.00 Interest 21,788.00 21,788.00 18,285.00 3,503.00 Costs and fees 350.00 350.00 350.00 0.00 Total expenditures 87,138.00 87,138.00 83,635.00 3,503.00 Excess of revenues over (under) expenditures 20,552.00 20,552.00 23,448.22 2,896.22 OTHER FINANCING SOURCES (USES) Net change in fund balance 20,552.00 20,552.00 23,448.22 2,896.22 Fund balance - July 1, 2020 - -As previously reported 18,290.54 18,290.54 18,290.54 0.00 Fund balance - July 1, 2020 - As restated 18,290.54 18,290.54 18,290.54 0.00 Fund balance - June 30, 2021 38,842.54 38,842.54 41,738.76 2,896.22 133 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 3 of 4 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2021 3550 SID 167 BOND DEBT (Parking Structure Project) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Special assessments 63,770.00 63,770.00 68,291.81 4,521.81 Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 75.00 75.00 220.35 145.35 Total revenues 63,845.00 63,845.00 68,512.16 4,667.16 EXPENDITURES Current: General Government Public Safety Public Works Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Debt Service Principal 29,132.00 29,132.00 29,132.40 ( 0.40) Interest 32,092.00 32,092.00 30,858.81 1,233.19 Costs and fees 0.00 0.00 0.00 0.00 Total expenditures 61,224.00 61,224.00 59,991.21 1,232.79 Excess of revenues over (under) expenditures 2,621.00 2,621.00 8,520.95 5,899.95 OTHER FINANCING SOURCES (USES) Net change in fund balance 2,621.00 2,621.00 8,520.95 5,899.95 Fund balance - July 1, 2020 - -As previously reported 33,883.88 33,883.88 33,883.88 0.00 Fund balance - July 1, 2020 - As restated 33,883.88 33,883.88 33,883.88 0.00 Fund balance - June 30, 2021 36,504.88 36,504.88 42,404.83 5,899.95 134 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 2 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - TOTAL NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2021 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Special assessments 171,220.00 171,220.00 174,846.89 3,626.89 Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 1,065.00 1,065.00 1,569.50 504.50 Total revenues 172,285.00 172,285.00 176,416.39 4,131.39 EXPENDITURES Current: General Government Public Safety Public Works Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Debt Service Principal 94,132.00 94,132.00 94,132.40 ( 0.40) Interest 53,880.00 53,880.00 49,143.81 4,736.19 Costs and fees 350.00 350.00 350.00 0.00 Total expenditures 148,362.00 148,362.00 143,626.21 4,735.79 Excess of revenues over (under) expenditures 23,923.00 23,923.00 32,790.18 8,867.18 OTHER FINANCING SOURCES (USES) Net change in fund balance 23,923.00 23,923.00 32,790.18 8,867.18 Fund balance - July 1, 2020 - -As previously reported 285,548.89 285,548.89 285,548.89 0.00 Fund balance - July 1, 2020 - As restated 285,548.89 285,548.89 285,548.89 0.00 Fund balance - June 30, 2021 309,471.89 309,471.89 318,339.07 8,867.18 135 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 1 55. COMBINING BALANCE SHEET - NONMAJOR CAPITAL PROJECT FUNDS For the year ending June 30, 2021 4540 Total Nonmajor WF Trail Construct Cap. Proj. Funds ASSETS Cash and cash equivalents 3,056.64 3,056.64 Taxes receivable: Other receivables 0.20 0.20 TOTAL ASSETS 3,056.84 3,056.84 Deferred Outflows of Resources LIABILITIES Deferred Inflows of Resources FUND BALANCES Unassigned (negative balance only) 3,056.84 3,056.84 Total Fund Balances 3,056.84 3,056.84 Total Liabilities, Deferred 3,056.84 3,056.84 inflows of resources and Fund Balances 136 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 1 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2021 4540 WF Trail Construction Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Licenses and permits Intergovernmental revenue (See supplemental section for detail) State grants 73,246.00 73,246.00 0.00 ( 73,246.00) Charges for services Culture and recreation charges 117,418.00 117,418.00 4,107.26 ( 113,310.74) Fines and forfeitures Miscellaneous Total revenues 190,664.00 190,664.00 4,107.26 ( 186,556.74) EXPENDITURES Current: General Government Public Safety Public Works Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Capital expenditures 190,246.00 190,246.00 2,915.00 187,331.00 Debt Service Total expenditures 190,246.00 190,246.00 2,915.00 187,331.00 Excess of revenues over (under) expenditures 418.00 418.00 1,192.26 774.26 OTHER FINANCING SOURCES (USES) Net change in fund balance 418.00 418.00 1,192.26 774.26 Fund balance - July 1, 2020 - -As previously reported 1,864.58 1,864.58 1,864.58 0.00 Fund balance - July 1, 2020 - As restated 1,864.58 1,864.58 1,864.58 0.00 Fund balance - June 30, 2021 2,282.58 2,282.58 3,056.84 774.26 137 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 1 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - TOTAL NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2021 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Licenses and permits Intergovernmental revenue (See supplemental section for detail) State grants 73,246.00 73,246.00 0.00 ( 73,246.00) Charges for services Culture and recreation charges 117,418.00 117,418.00 4,107.26 ( 113,310.74) Fines and forfeitures Miscellaneous Total revenues 190,664.00 190,664.00 4,107.26 ( 186,556.74) EXPENDITURES Current: General Government Public Safety Public Works Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Capital expenditures 190,246.00 190,246.00 2,915.00 187,331.00 Debt Service Total expenditures 190,246.00 190,246.00 2,915.00 187,331.00 Excess of revenues over (under) expenditures 418.00 418.00 1,192.26 774.26 OTHER FINANCING SOURCES (USES) Net change in fund balance 418.00 418.00 1,192.26 774.26 Fund balance - July 1, 2020 - -As previously reported 1,864.58 1,864.58 1,864.58 0.00 Fund balance - July 1, 2020 - As restated 1,864.58 1,864.58 1,864.58 0.00 Fund balance - June 30, 2021 2,282.58 2,282.58 3,056.84 774.26 138 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 2 63. COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS For the year ending June 30, 2021 5410 Total Nonmajor SOLID WASTE Enterprise ASSETS Current Assets Cash and cash equivalents 73,684.97 73,684.97 Accounts receivable - net of allowances 97,431.01 97,431.01 Total Current Assets 171,115.98 171,115.98 Noncurrent Assets Restricted Assets: Capital assets: Machinery and equipment 133.50 133.50 Less accumulated depreciation ( 133.50) ( 133.50) Capital assets - net of TOTAL ASSETS 171,115.98 171,115.98 Deferred Outflows of Resources Deferred Outflows of Resources 12,074.00 12,074.00 Total Deferred Outflows of Resources 12,074.00 12,074.00 LIABILITIES Current Liabilities Accounts payable 84,000.00 84,000.00 Other accrued payables 1,849.43 1,849.43 Deposits payable 10.78 10.78 Total Current Liabilites 85,860.21 85,860.21 Noncurrent Liabilities Compensated absences 5,430.00 5,430.00 Other noncurrent liabilities 51,185.00 51,185.00 Total Noncurrent Liabilities 56,615.00 56,615.00 Total Liabilities 142,475.21 142,475.21 Deferred Inflows of Resources Deferred Inflows of Resources other 5,906.00 5,906.00 139 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 2 of 2 63. COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS For the year ending June 30, 2021 5410 Total Nonmajor SOLID WASTE Enterprise Total Deferred Inflows of Resources 5,906.00 5,906.00 NET POSITION Restricted for: Unrestricted 34,808.77 34,808.77 Total Net Position 34,808.77 34,808.77 140 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 1 64. COMBINING STATEMENT OF REVENUES, EXPENSES & CHANGES IN FUND NET POSITION - NONMAJOR ENTERPRISE FUNDS For the year ending June 30, 2021 5410 Total Nonmajor SOLID WASTE Enterprise OPERATING REVENUES Charges for services 287,331.02 287,331.02 Total Operating Revenues 287,331.02 287,331.02 OPERATING EXPENSES Personal services 77,155.59 77,155.59 Supplies 303.10 303.10 Purchased services 252,860.30 252,860.30 Fixed charges 250.37 250.37 Total Operating Expenses 330,569.36 330,569.36 Operating Income (Loss) ( 43,238.34) ( 43,238.34) NONOPERATING REVENUES (EXPENSES) Intergovernmental revenue 2,173.00 2,173.00 Interest and royalty revenue 414.38 414.38 Other nonoperating expense ( 1,287.52) ( 1,287.52) Total Nonoperating Rev(Exp) 1,299.86 1,299.86 Income (Loss) before contributions/transfers ( 41,938.48) ( 41,938.48) Change in net position ( 41,938.48) ( 41,938.48) Total net position - July 1, 2020 76,747.25 76,747.25 Total net position - July 1, 2020 as restated 76,747.25 76,747.25 Total net position - June 30, 2021 34,808.77 34,808.77 141 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 1000 GENERAL 331110 Federal Disaster Aid - CARES ACT JV 4841 2 Proj: 28-ACCR CARES ACT Reimburseme 8/20 8,110.50 RV 1399 1 Proj: 28- 8/20 8,110.50 RV 1399 12 8/20 18,259.64 JV 4887 7 general fund 11/20 3,355.20 JV 4887 13 general fund 11/20 18,259.64 RV 1446 1 Proj: 28- 3/21 148,435.26 Account Total: 26,370.14 178,160.60 151,790.46 CR 335120 Gambling Machine Permits RV 1406 1 Gamibling Permits 4th FY18 9/20 125.00 RV 1428 1 Gamibling Permits 1st qt fy21 1/21 17,100.00 RV 1435 1 Gamibling Permits 1st qt fy21 2/21 150.00 RV 1465 1 Gamibling Permits 3rd qt fy21 6/21 1,100.00 Account Total: 18,475.00 18,475.00 CR 335230 State Entitlement Share RV 1403 1 State Entitlement 9/20 231,251.00 RV 1422 1 State Entitlement 12/20 231,251.00 RV 1442 1 State Entitlement 3/21 231,251.00 RV 1462 1 State Entitlement 6/21 231,251.00 Account Total: 925,004.00 925,004.00 CR 336020 On Behalf Contribution to Retirement JV 5254 65 Rcd On-Behalf of PMT for PERS 13/21 60,602.00 Account Total: 60,602.00 60,602.00 CR Fund Total: 26,370.14 1182,241.60 142 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 2 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2110 STREET AND ALLEY 331110 Federal Disaster Aid - CARES ACT JV 4841 4 Proj: 28-ACCR CARES ACT Reimburseme 8/20 153.35 RV 1399 2 Proj: 28- 8/20 153.35 RV 1446 2 Proj: 28- 3/21 259.65 Account Total: 153.35 413.00 259.65 CR 335040 Gasoline Tax Apportionment RV 1387 1 fuel allocation 7/20 13,463.70 RV 1396 1 fuel allocation 8/20 13,463.74 RV 1402 1 fuel allocation 9/20 13,463.74 RV 1408 1 fuel allocation 10/20 13,463.74 RV 1416 1 fuel allocation 11/20 13,463.74 RV 1421 1 fuel allocation 12/20 13,463.74 RV 1427 1 fuel allocation 1/21 13,463.74 RV 1434 1 fuel allocation 2/21 13,463.74 RV 1441 1 fuel allocation 3/21 13,463.74 RV 1449 1 fuel allocation 4/21 13,463.74 RV 1453 1 fuel allocation 5/21 13,463.74 RV 1461 1 fuel allocation 6/21 13,463.74 Account Total: 161,564.84 161,564.84 CR 336020 On Behalf Contribution to Retirement JV 5254 67 Rcd On-Behalf of PMT for PERS 13/21 31,190.00 Account Total: 31,190.00 31,190.00 CR Fund Total: 153.35 193,167.84 143 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 3 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2210 PARKS, RECREATION AND COMMUNITY SERVICES 331110 Federal Disaster Aid - CARES ACT JV 4841 6 Proj: 28-ACCR CARES ACT Reimburseme 8/20 5,419.10 RV 1399 3 Proj: 28- 8/20 5,419.10 JV 4887 1 parks fund 11/20 8,363.17 RV 1446 3 Proj: 28- 3/21 1,712.71 Account Total: 5,419.10 15,494.98 10,075.88 CR 334000 State Grants JV 4835 2 Accrue MT Grouse Mtn Rest Area 7/20 2,360.41 RV 1389 1 GrouseMtnRestArea Reim 7/20 2,360.41 RV 1395 1 GrouseMtnRestArea Reim 8/20 127.22 RV 1425 1 12/20 3,648.64 RV 1456 1 WCF grant 3/21 4,000.00 RV 1450 1 Arbor Day 2020 Grant 4/21 750.00 JV 5223 2 Accr Grouse Mountain 6/21 428.35 RV 1464 1 GrouseMtnRestArea Reim 6/21 3,531.14 Account Total: 2,360.41 14,845.76 12,485.35 CR 336020 On Behalf Contribution to Retirement JV 5254 71 Rcd On-Behalf of PMT for PERS 13/21 53,062.00 Account Total: 53,062.00 53,062.00 CR Fund Total: 7,779.51 83,402.74 144 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 4 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2220 LIBRARY FUND 331110 Federal Disaster Aid - CARES ACT JV 4841 8 Proj: 28-ACCR CARES ACT Reimburseme 8/20 474.60 RV 1399 4 Proj: 28- 8/20 474.60 JV 4887 3 library fund 11/20 618.24 RV 1446 4 Proj: 28- 3/21 177.05 Account Total: 474.60 1,269.89 795.29 CR 334100 Library State Aid CR 148864 1 Batch 16786 10/20 2,342.79 Account Total: 2,342.79 2,342.79 CR 336020 On Behalf Contribution to Retirement JV 5254 73 Rcd On-Behalf of PMT for PERS 13/21 9,737.00 Account Total: 9,737.00 9,737.00 CR Fund Total: 474.60 13,349.68 145 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 5 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2300 LAW ENFORCEMENT 331110 Federal Disaster Aid - CARES ACT JV 4841 10 Proj: 28-ACCR CARES ACT Reimburseme 8/20 964.16 JV 4841 20 Proj: 28-ACCR CARES ACT Reimburseme 8/20 321,227.62 RV 1399 5 Proj: 28- 8/20 964.16 RV 1399 10 Proj: 28- 8/20 321,227.62 JV 4887 11 police fund 11/20 186,311.35 RV 1446 5 Proj: 28- 3/21 5,698.57 RV 1446 10 Proj: 28- 3/21 332,266.42 Account Total: 322,191.78 846,468.12 524,276.34 CR 334091 Overtime Reimbursement from DOT JV 4837 2 Accrue STEP Revenue 7/20 4,168.47 RV 1388 1 STEP 7/20 4,168.47 CR 147741 1 Batch 16741 8/20 1,884.51 RV 1409 1 STEP 10/20 4,551.07 RV 1444 1 STEP 3/21 1,872.57 JV 5028 1 move from step 4/21 1,884.51 RV 1463 1 STEP 6/21 8,231.25 Account Total: 6,052.98 20,707.87 14,654.89 CR 336020 On Behalf Contribution to Retirement JV 5254 75 Rcd On-Behalf of PMT for PERS 13/21 22,542.00 JV 5254 80 Rcd On Behalf for FURS & MPORS 13/21 514,206.00 Account Total: 536,748.00 536,748.00 CR 337014 Drug Task Force Grant CR 146523 1 Batch 16692 7/20 5,161.35 CR 146904 1 Batch 16707 7/20 2,410.55 JV 4922 1 Corr Stonegarden Rev for FY20 7/20 5,161.35 JV 4922 2 Corr Stonegarden Rev for FY20 7/20 2,410.55 CR 147311 1 Batch 16726 8/20 13,645.40 JV 4923 1 Corr Local Match Revenue 8/20 13,645.40 CR 148438 1 Batch 16769 9/20 1,654.50 CR 148925 1 Batch 16790 10/20 12,426.47 CR 150284 1 Batch 16854 12/20 13,711.59 CR 150762 1 Batch 16873 12/20 7,011.86 CR 151086 1 Batch 16890 1/21 2,895.96 CR 151164 1 Batch 16894 1/21 6,344.64 CR 151623 1 Batch 16917 1/21 1,221.00 CR 152067 1 Batch 16944 2/21 7,216.35 CR 152426 1 Batch 16966 3/21 7,694.85 CR 152965 1 Batch 16996 3/21 1,349.55 JV 5028 2 move from drug task 4/21 1,654.50 CR 154921 1 Batch 17068 6/21 24,344.26 JV 5154 2 Accrue FY21 HIDTA Revenue 6/21 1,159.81 146 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 6 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2300 LAW ENFORCEMENT 337014 Drug Task Force Grant JV 5154 4 Accrue FY21 MBCC JAG Revenue 6/21 6,808.05 JV 5221 1 Rcd Stonegarden Batch #16890 6/21 2,895.96 JV 5221 3 Rcd Stonegarden Batch #16917 6/21 1,221.00 JV 5221 5 Rcd Stonegarden Batch #16996 6/21 1,349.55 Account Total: 28,338.31 115,056.19 86,717.88 CR 337018 Dept of Justice Grant JV 4920 2 Accr Stonegarden Revenue 7/20 5,161.35 JV 4920 3 Accr Stonegarden Revenue 7/20 2,410.55 JV 4922 3 Corr Stonegarden Rev for FY20 7/20 5,161.35 JV 4922 4 Corr Stonegarden Rev for FY 20 7/20 2,410.55 JV 5028 3 move to stonegarden 4/21 3,539.01 CR 154534 1 Batch 17049 5/21 1,707.30 JV 5218 4 Accr Reimb Stonegarden Payment 6/21 915.63 JV 5221 2 Rcd Stonegarden Batch #16890 6/21 2,895.96 JV 5221 4 Rcd Stonegarden Batch #16917 6/21 1,221.00 JV 5221 6 Rcd Stonegarden Batch #16996 6/21 1,349.55 Account Total: 7,571.90 19,200.35 11,628.45 CR 337019 School District 44 Reimbursement SRO CR 146733 1 Batch 16701 7/20 53,639.37 JV 4861 2 Accrue SRO REvenue 7/20 53,639.37 CR 151814 1 Batch 16928 2/21 29,996.66 JV 5084 2 Accrue SRO REvenue 6/21 25,121.25 Account Total: 53,639.37 108,757.28 55,117.91 CR Fund Total: 417,794.34 1646,937.81 147 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 7 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2340 FIRE AND AMBULANCE 331000 Federal Grants JV 4910 2 HHS Stimulus Reversal 7/20 14,735.14 JV 5078 15 Adj HHS Stimulus PRF 3/21 2,018.95 JV 5199 1 Adj HHS PRF Funds 6/21 2,950.17 Account Total: 2,950.17 16,754.09 13,803.92 CR 331110 Federal Disaster Aid - CARES ACT JV 4841 12 Proj: 28-ACCR CARES ACT Reimburseme 8/20 2,055.43 JV 4841 22 Proj: 28-ACCR CARES ACT Reimburseme 8/20 358,904.77 JV 4873 11 Adj Covid HHS Revenue AR no co 8/20 931.22 RV 1399 6 Proj: 28- 8/20 2,055.43 RV 1399 11 Proj: 28- 8/20 358,904.77 JV 4887 9 fire fund 11/20 166,580.04 JV 4887 16 fire fund 11/20 18,259.64 RV 1446 6 Proj: 28- 3/21 72,656.28 RV 1446 11 Proj: 28- 3/21 517,443.38 Account Total: 360,960.20 1136,830.76 775,870.56 CR 336020 On Behalf Contribution to Retirement JV 5254 78 Rcd On Behalf for FURS & MPORS 13/21 465,173.00 Account Total: 465,173.00 465,173.00 CR 338050 Portion of Countywide Ambulance Assessment CR 146663 1 Batch 16698 7/20 31,417.67 CR 150729 1 Batch 16872 12/20 29,150.60 JV 5156 1 County-wide EMS 6/21 35,308.70 Account Total: 95,876.97 95,876.97 CR Fund Total: 363,910.37 1714,634.82 148 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 8 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2394 BUILDING CODES 331110 Federal Disaster Aid - CARES ACT JV 4841 14 Proj: 28-ACCR CARES ACT Reimburseme 8/20 274.16 RV 1399 7 Proj: 28- 8/20 274.16 RV 1446 7 Proj: 28- 3/21 480.31 Account Total: 274.16 754.47 480.31 CR 336020 On Behalf Contribution to Retirement JV 5254 77 Rcd On-Behalf of PMT for PERS 13/21 23,954.00 Account Total: 23,954.00 23,954.00 CR Fund Total: 274.16 24,708.47 149 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 9 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2821 Gas Tax - Special Roads, Streets, & Bridges Allocation 335040 Gasoline Tax Apportionment JV 4798 2 To Accrue BaRSAA 8/20 180,886.04 JV 4877 2 Adj A/R for BaRSAA Revenue Rcv 8/20 180,886.04 Account Total: 180,886.04 180,886.04 Fund Total: 180,886.04 180,886.04 150 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 10 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2994 ARPA - COVID-19 331990 COVID-19/Stimulus Revenues – Federal Sources JV 5126 1 Defer ARPA Revenue 6/21 1059,434.59 RV 1468 1 arpa distribution 6/21 1059,434.59 Account Total: 1059,434.59 1059,434.59 Fund Total: 1059,434.59 1059,434.59 151 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 11 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 5210 WATER 331110 Federal Disaster Aid - CARES ACT JV 4841 16 Proj: 28-ACCR CARES ACT Reimburseme 8/20 415.30 RV 1399 8 Proj: 28- 8/20 415.30 JV 4887 5 water 11/20 287.00 RV 1446 8 Proj: 28- 3/21 348.70 Account Total: 415.30 1,051.00 635.70 CR 334121 DNRC Grants JV 4978 2 DNRC GRANT AIS-20-0002 11/20 31,886.40 Account Total: 31,886.40 31,886.40 CR 336020 On Behalf Contribution to Retirement JV 5254 48 Rcg FY21 Pension Exp ADJ NPL 13/21 56,776.00 Account Total: 56,776.00 56,776.00 CR Fund Total: 415.30 89,713.40 152 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 12 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 5310 WASTEWATER 331000 Federal Grants JV 4833 2 Accrue Army CoE Grant for WWTP 8/20 270,000.00 RV 1398 1 8/20 270,000.00 Account Total: 270,000.00 270,000.00 331110 Federal Disaster Aid - CARES ACT JV 4841 18 Proj: 28-ACCR CARES ACT Reimburseme 8/20 393.37 RV 1399 9 Proj: 28- 8/20 393.37 RV 1446 9 Proj: 28- 3/21 334.67 Account Total: 393.37 728.04 334.67 CR 336020 On Behalf Contribution to Retirement JV 5254 53 Rcg FY21 Pension Exp ADJ NPL 13/21 56,123.00 Account Total: 56,123.00 56,123.00 CR Fund Total: 270,393.37 326,851.04 153 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 13 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 5410 SOLID WASTE 336020 On Behalf Contribution to Retirement JV 5254 58 Rcg FY21 Pension Exp ADJ NPL 13/21 2,173.00 Account Total: 2,173.00 2,173.00 CR Fund Total: 0.00 2,173.00 154 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 14 of 14 13:52:03 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/20 - 13/21 Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 7120 VOLUNTEER FIRE PENSION & RELIEF 335035 State Auditor's Annual Payment RV 1443 1 State Auditor's Annual PMT 3/21 60,331.00 Account Total: 60,331.00 60,331.00 CR Fund Total: 0.00 60,331.00 Grand Total: 2327,885.77 6577,832.03 155 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 1 of 3 13:53:21 Schedule of Cash Receipts & Disbursements Report ID: L160Z For the Year 2020-2021 Beginning Transfers Transfers Ending Fund/Account Balance Received In Disbursed Out Balance 1000 GENERAL 101000 Operating Cash 1,650,926.59 7,061,558.98 774.02 4,792,769.91 1,835,879.67 2,084,610.01 101100 Investments 30,171.00 0.00 0.00 0.00 0.00 30,171.00 102001 Cash - Restricted Flex 11,729.30 57,837.17 0.00 57,899.05 0.00 11,667.42 103000 Petty Cash 400.00 0.00 0.00 0.00 0.00 400.00 Total Fund 1,693,226.89 7,119,396.15 774.02 4,850,668.96 1,835,879.67 2,126,848.43 Total 1000 GENERAL 1,693,226.89 7,119,396.15 774.02 4,850,668.96 1,835,879.67 2,126,848.43 2100 RESORT TAX 101000 Operating Cash 1,614,978.92 4,818,480.78 0.00 2,301,023.88 1,954,367.04 2,178,068.78 2110 STREET AND ALLEY 101000 Operating Cash 2,039,721.88 1,854,778.61 3,785.12 22,655.82 1,072,219.38 2,803,410.41 2210 PARKS, RECREATION AND COMMUNITY SERVICES 101000 Operating Cash 287,006.08 1,873,682.64 1,540.49 167,837.91 1,583,432.02 410,959.28 102147 Cash - The Whitefish Trail -44,445.61 69,262.95 0.00 51,354.92 0.00 -26,537.58 103000 Petty Cash 300.00 0.00 0.00 300.00 -300.00 300.00 Total Fund 242,860.47 1,942,945.59 1,540.49 219,492.83 1,583,132.02 384,721.70 2220 LIBRARY FUND 101000 Operating Cash 51,929.08 439,386.72 0.00 9,843.81 274,038.71 207,433.28 103000 Petty Cash 50.00 0.00 0.00 0.00 0.00 50.00 Total Fund 51,979.08 439,386.72 9,843.81 274,038.71 207,483.28 2300 LAW ENFORCEMENT 101000 Operating Cash 153,363.67 3,755,646.75 537.74 82,504.52 2,858,729.48 968,314.16 2310 TAX INCREMENT 101000 Operating Cash 2,894,317.45 1,155,850.51 0.00 43,192.93 2,969,847.01 1,037,128.02 2340 FIRE AND AMBULANCE 101000 Operating Cash 112,548.09 4,302,243.63 774.33 72,093.90 2,900,178.37 1,443,293.78 2394 BUILDING CODES 101000 Operating Cash 1,009,484.55 1,030,841.83 0.00 20,227.15 626,709.49 1,393,389.74 2399 IMPACT FEES 101000 Operating Cash 0.00 14,119.14 0.00 0.00 14,119.14 0.00 102142 Cash - Paved Trails 141,540.85 94,767.13 0.00 10,486.56 583.00 225,238.42 102143 Cash - Park Maint Building 21,688.11 21,962.91 0.00 0.00 128.00 43,523.02 102144 Cash - ESC 251,970.90 97,282.62 0.00 0.00 446.00 348,807.52 102145 Cash - City Hall 82,495.41 10,172.02 0.00 0.00 47.00 92,620.43 102146 Cash - Stormwater 162,792.43 37,052.74 0.00 172.00 172.00 199,501.17 Total Fund 660,487.70 275,356.56 10,658.56 15,495.14 909,690.56 2400 LIGHT DISTRICT #1 (Residential) 101000 Operating Cash 45,767.31 109,917.87 0.00 757.22 72,320.39 82,607.57 2410 LIGHT DISTRICT #4 (Commercial) 101000 Operating Cash 112,411.80 107,559.06 15.82 757.22 45,977.27 173,252.19 2525 STORM WATER 101000 Operating Cash 993,602.55 476,617.18 0.00 4,486.86 234,056.20 1,231,676.67 2821 Gas Tax - Special Roads, Streets, & Bridges Allocation 101000 Operating Cash 0.00 181,186.04 0.00 48,601.06 300.00 132,284.98 2917 CRIME VICTIMS ASSISTANCE 101000 Operating Cash 1,473.00 6,791.04 0.00 0.00 6,791.04 1,473.00 2987 HOUSING REHABILITATION GRANT 101000 Operating Cash 1,069.27 350.00 0.00 0.00 0.00 1,419.27 2989 AFFORDABLE HOUSING (cash in lieu) 156 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 2 of 3 13:53:21 Schedule of Cash Receipts & Disbursements Report ID: L160Z For the Year 2020-2021 Beginning Transfers Transfers Ending Fund/Account Balance Received In Disbursed Out Balance 101000 Operating Cash 260,000.00 129,480.00 0.00 0.00 0.00 389,480.00 2990 PARKLAND AQUISITION & DEVELOPMENT 101000 Operating Cash 0.00 1,528.14 0.00 0.00 1,528.14 0.00 102130 Cash - District East 44,022.24 26,241.36 0.00 2,299.29 80.00 67,884.31 102131 Cash - District West 10,262.48 46.83 0.00 0.00 1,000.00 9,309.31 102132 Cash - District North 65,227.29 57,596.09 0.00 0.00 1,000.00 121,823.38 Total Fund 119,512.01 85,412.42 2,299.29 3,608.14 199,017.00 2992 SIDEWALK DISTRICTS PROJECT (cash in lieu) 101000 Operating Cash 0.00 6,506.09 0.00 0.00 6,506.09 0.00 102130 Cash - District East 49,464.06 232.46 0.00 0.00 0.00 49,696.52 102131 Cash - District West 117,711.80 3,581.06 0.00 0.00 0.00 121,292.86 102132 Cash - District North 104,613.19 4,230.82 0.00 6,506.09 0.00 102,337.92 Total Fund 271,789.05 14,550.43 6,506.09 6,506.09 273,327.30 2993 Cash In-Lieu of Subdivision Street Tree Planting 101000 Operating Cash 41,160.00 0.00 0.00 3,150.00 1,180.00 36,830.00 2994 ARPA - COVID-19 101000 Operating Cash 0.00 1,059,472.32 0.00 0.00 0.00 1,059,472.32 Total 2000 10,626,526.80 21,746,867.34 6,653.50 2,848,251.14 14,625,455.77 14,906,340.73 3110 TAX INCREMENT REVENUE BOND DEBT 101000 Operating Cash 0.00 3,773,375.53 0.00 0.00 3,773,375.53 0.00 102210 Cash-Bond Dbt Srvice 2,075,075.53 0.00 0.00 2,075,075.53 0.00 0.00 102220 Cash-Bond Dbt Rsrv 1,698,300.00 0.00 0.00 1,698,300.00 0.00 0.00 Total Fund 3,773,375.53 3,773,375.53 3,773,375.53 3,773,375.53 3400 SID REVOLVING (SID Bond Collateral) 101000 Operating Cash 174,676.00 821.01 0.00 0.00 0.00 175,497.01 3545 SID 166 BOND DEBT (J.P. Road Project) 101000 Operating Cash 76,989.01 107,083.22 0.00 0.00 83,635.00 100,437.23 3550 SID 167 BOND DEBT (Parking Structure Project) 101000 Operating Cash 33,883.88 68,512.16 0.00 0.00 59,991.21 42,404.83 Total 3000 4,058,924.42 3,949,791.92 0.00 3,773,375.53 3,917,001.74 318,339.07 4540 WF Trail Construction 101000 Operating Cash 1,864.38 4,107.26 0.00 0.00 2,915.00 3,056.64 Total 4000 1,864.38 4,107.26 0.00 0.00 2,915.00 3,056.64 5210 WATER 101000 Operating Cash 6,230,375.82 12,993,562.05 13,210.81 702,483.99 12,758,801.25 5,775,863.44 102111 Cash - Construction 0.00 899.75 0.00 0.00 899.75 0.00 102220 Cash-Bond Dbt Rsrv 3,118.00 0.00 0.00 0.00 0.00 3,118.00 102227 Cash-Bond Dbt Rsrv-Series 28,934.50 0.00 0.00 0.00 0.00 28,934.50 102228 Cash-Bond Dbt Rsrv-Series 27,114.50 0.00 0.00 0.00 0.00 27,114.50 102237 Cash-Bond Dbt Rsrv - 3,968.50 0.00 0.00 0.00 0.00 3,968.50 102238 Cash-Bond Dbt 0.00 1,175,865.24 0.00 1,042,912.50 0.00 132,952.74 102239 Cash-Bond Dbt Rsrv - 612,030.00 26,470.00 0.00 0.00 0.00 638,500.00 102240 Cash-Replacement & 104,378.31 0.00 0.00 0.00 0.00 104,378.31 102243 Cash-Bond Debt Reserve WTP 0.00 297,525.56 0.00 105,906.56 0.00 191,619.00 102245 Cash-Bond Debt Reserve 0.00 69,525.56 0.00 0.00 0.00 69,525.56 103000 Petty Cash 300.00 0.00 0.00 0.00 0.00 300.00 Total Fund 7,010,219.63 14,563,848.16 13,210.81 1,851,303.05 12,759,701.00 6,976,274.55 157 ---PAGE BREAK--- 12/30/21 CITY OF WHITEFISH Page: 3 of 3 13:53:21 Schedule of Cash Receipts & Disbursements Report ID: L160Z For the Year 2020-2021 Beginning Transfers Transfers Ending Fund/Account Balance Received In Disbursed Out Balance 5211 WATER IMPACT FEE 101000 Operating Cash 0.00 5,005.62 0.00 0.00 5,005.62 0.00 102111 Cash - Construction 1,631,694.56 771,380.55 0.00 5,005.62 2,052.42 2,396,017.07 Total Fund 1,631,694.56 776,386.17 5,005.62 7,058.04 2,396,017.07 5310 WASTEWATER 101000 Operating Cash 149,866.15 18,510,653.50 281,345.50 510,679.35 15,192,515.12 3,238,670.68 102111 Cash - Construction 0.00 20.00 0.00 0.00 20.00 0.00 102220 Cash-Bond Dbt Rsrv 13,654.62 770.38 0.00 0.00 0.00 14,425.00 102221 Cash-Bond Dbt Rsrv-Series 51,189.00 4.00 0.00 0.00 0.00 51,193.00 102222 Cash-Bond Dbt Rsrv-Series 1,107.00 0.00 0.00 7.63 0.00 1,099.37 102226 Cash-Bond Dbt Rsrv-Series 6,270.00 0.00 0.00 120.00 0.00 6,150.00 102229 Cash-Bond Dbt Rsrv-Series 15,110.00 0.00 0.00 293.00 0.00 14,817.00 102231 Cash-Bond Dbt Rsrv-Series 11,225.00 0.00 0.00 240.00 0.00 10,985.00 102232 Cash-Bond Dbt Rsrv-Series 12,473.00 0.00 0.00 270.50 0.00 12,202.50 102233 Cash-Bond Dbt Rsrv-Series 15,055.00 0.00 0.00 300.00 0.00 14,755.00 102234 Cash-Bond Dbt Rsrv-Series 8,475.00 0.00 0.00 150.00 0.00 8,325.00 102235 Cash-Bond Dbt Rsrv - 30,919.00 0.00 0.00 525.50 0.00 30,393.50 102240 Cash-Replacement & 102,026.73 0.00 0.00 0.00 0.00 102,026.73 102242 Cash-Bond Debt Reserve 44,115.00 483,912.00 0.00 208,658.00 0.00 319,369.00 102244 Cash-Bond Debt Reserve 0.00 208,658.00 0.00 0.00 0.00 208,658.00 Total Fund 461,485.50 19,204,017.88 281,345.50 721,243.98 15,192,535.12 4,033,069.78 5311 WASTEWATER IMPACT FEE 101000 Operating Cash 0.00 661,793.11 0.00 0.00 661,793.11 0.00 102111 Cash - Construction 1,081,265.78 922,939.00 0.00 668,033.74 1,926.14 1,334,244.90 Total Fund 1,081,265.78 1,584,732.11 668,033.74 663,719.25 1,334,244.90 5410 SOLID WASTE 101000 Operating Cash 95,540.79 184,453.93 5,871.24 1,306.01 210,874.98 73,684.97 Total 5000 10,280,206.26 36,313,438.25 300,427.55 3,246,892.40 28,833,888.39 14,813,291.27 7120 VOLUNTEER FIRE PENSION & RELIEF 101000 Operating Cash 76,182.80 67,929.10 0.00 0.00 82,385.91 61,725.99 7451 STATE SURCHARGE ON COURT FINES 101000 Operating Cash 4,301.67 14,511.62 0.00 0.00 14,511.62 4,301.67 7910 PAYROLL FUND 101000 Operating Cash 200,294.56 118,532.20 10,394,841.68 10,679,743.67 390.40 33,534.37 7930 CLAIMS FUND 101000 Operating Cash 2,651,008.33 0.00 38,610,131.75 38,866,707.26 0.00 2,394,432.82 Total 7000 2,931,787.36 200,972.92 49,004,973.43 49,546,450.93 97,287.93 2,493,994.85 Totals 29,592,536.11 69,334,573.84 49,312,828.50 64,265,638.96 49,312,428.50 34,661,870.99 158 ---PAGE BREAK--- Cash Reconciliation Range of Interest Rates Maturity Date Balance Per Bank Statement 6/30/2021 Deposits in Transit Outstanding Checks Others/ Transfers Adjustments Book Balance 6/30/2021 Cash on Hand: Petty Cash 1,050.00 $ 1,050.00 $ Total 1,050.00 $ - $ 1,050.00 $ Checking Accounts: Glacier Bank 16,497,378.51 $ 66,816.57 $ - $ 29,436.14 $ 16,593,631.22 $ Glacier Bank Flex Spending 13,803.09 $ 13,803.09 $ US Bank - Ambulance 246,478.39 $ 246,478.39 $ Total 16,757,659.99 $ 66,816.57 $ - $ - $ 29,436.14 $ 16,853,912.70 $ Savings, NOW, Money Market Deposits: Whitefish Credit Union- Library 106,456.65 $ 106,456.65 $ First Interstate Bank -MMA 394,319.80 $ 394,319.80 $ Total 500,776.45 $ - $ - $ - $ - $ 500,776.45 $ Time Deposits: First Interstate Bank - CD 1,041,557.52 $ 26,578.83 $ - $ 1,068,136.35 $ Glacier Bank - CD 1,198,457.76 $ 1,915.82 $ - $ 1,200,373.58 $ Total 2,240,015.28 $ - $ - $ 28,494.65 $ - $ 2,268,509.93 $ Total Cash and Deposits 19,499,501.72 $ 66,816.57 $ - $ 28,494.65 $ 29,436.14 $ 19,624,249.08 $ Investments: Investment Portfolio 4,285,501.10 $ 4,285,501.10 $ STIP 10,752,119.82 $ 10,752,119.82 $ Total Investments 15,037,620.92 $ - $ - $ - $ - $ 15,037,620.92 $ Total Cash and Investments 34,537,122.64 $ 66,816.57 $ - $ 28,494.65 $ 29,436.14 $ 34,661,870.00 $ Cash Reconciles to Financial Statements CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA FOR THE FISCAL YEAR ENDED JUNE 30, 2021 UNAUDITED 159 ---PAGE BREAK--- GENERAL SECTION INFORMATION 160 ---PAGE BREAK--- GENERAL INFORMATION (Complete all portions applicable to entity) 1. Class of county/city Second 2. Date of incorporation 1905 3. County seat Kalispell, Flathead 4. Form of government Manager 5. Population (most recent estimate) 7,751 (2020 Estimate census.gov) 6. Land area 12.34 Sq Miles 7. Miles of roads/streets/alleys 67.6903 8. Taxable valuation $40,219,393 9. Road taxable valuation (county) N/A 10. Number of water consumers 4,348 11. Average daily water consumption 1.099 Million Gallons per day 12. Miles of water main 77.4831 13. Miles of sanitary and storm sewers 81.0316 Sanitary, 29.5777 Stormwater 14. Number of building permits issued 215 including new, remodel, garage/apt, commercial, duplex/townhome and multi-family 15. Number of full-time employees 108.75 FTEs B. PROPERTY TAX MILL LEVIES - County/City/Town funds only (For fiscal year being reported) Fund/activity Mills 1000 General 86.227 Resort Tax Rebate -29.450 Permissive Medical Levy 20.040 2220 Library 6.820 2340 Fire and Ambulance Voted Levy 24.000 7120 Fire Pension 0.000 TOTAL 107.637 161