Document Whitefish_doc_cf7cd9bf04

MONTANA DEPARTMENT OF ADMINISTRATION State Financial Services Division State Accounting Bureau Local Government Services Mitchell Building, Room 270, PO Box 200547, Helena, Montana 59620-0547 021503 MONTANA CITY OF WHITEFISH ANNUAL FINANCIAL REPORT FISCAL YEAR ENDING JUNE 30, 2018 REVISED OCT 2018/VERSION 18.5 418 E. 2ND STREET, P.O. BOX 158 WHITEFISH, MT 59937 ENTITY # FOR DEPARTMENT OF ADMINSTRATION USE ONLY Entered into Database Date: Reviewed by System's Staff ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT TABLE OF CONTENTS FISCAL YEAR ENDING JUNE 30, 2018 Page No. INTRODUCTORY SECTION Letter of Transmittal 2 List of Elected and Appointed Officials – Signature 3 FINANCIAL SECTION Management's Discussion and Analysis 5-14 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position 16 Statement of Activities 17 Fund Financial Statements: Balance Sheet - Governmental Funds 18 Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position…………………. 19 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 20 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 21 Statement of Net Position - Proprietary Funds 22 Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Funds 23 Statement of Cash Flows - Proprietary Funds 24 Statement of Fiduciary Net Position -Fiduciary Funds 25 Notes to the Financial Statements 26-58 Required Supplementary Information: Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund and Major Special Revenue 60-64 Other Supplementary Information: Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - Nonmajor Special Revenue Funds 66-70 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Special Revenue Funds 72-104 Combining Balance Sheet - Nonmajor Debt Service Funds 105 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Debt Service Funds 106-108 Combining Balance Sheet - Nonmajor Capital Projects Funds 109 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Capital Projects Funds 110-115 Combining Statement of Net Position - Nonmajor Enterprise Funds 116-117 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position – Nonmajor Enterprise Funds 118 Schedule of Federal/State Grants, Entitlements and Shared Revenues 119-128 Cash Reconciliation 129 GENERAL INFORMATION SECTION General Information 130 ---PAGE BREAK--- INTRODUCTORY SECTION City of Whitefish - Annual Financial Report Page 1 of 130 ---PAGE BREAK--- December 31, 2018 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, 2018. If you have any questions or concerns, please call me at [PHONE REDACTED]. Sincerely, Dana Smith Assistant City Manager/Finance Director City of Whitefish - Annual Financial Report Page 2 of 130 ---PAGE BREAK--- OFFICE NAME OF COUNTY OFFICIALS/OFFICERS DATE TERM EXPIRES Mayor John M. Muhlfeld December 31, 2019 Councilperson Richard Hildner December 31, 2019 Councilperson Katie Williams December 31, 2019 Councilperson Frank Sweeney December 31, 2019 Councilperson Andy Fuery December 31, 2021 Councilperson Melissa Hartman December 31, 2021 Councilperson Ryan Hennen December 31, 2021 City Manager Adam M. Hammatt Assistant City Manager/Finance Director Dana Smith Attorney Angela Jacobs Chief of Police William Dial Fire Chief Joseph Page Clerk Michelle Howke Municipal Judge William Hileman Respectfully submitted; Assistant City Manager/Finance Director Date FISCAL YEAR ENDING JUNE 30, 2018 CITY OF WHITEFISH ELECTED OFFICIALS/OFFICERS IN ACCORDANCE WITH STATE LAW, I HEREBY TRANSMIT THE CITY OF WHITEFISH ANNUAL FINANCIAL REPORT FOR THE City of Whitefish - Annual Financial Report Page 3 of 130 December 31, 2018 ---PAGE BREAK--- MANAGEMENT'S DISCUSSION AND ANALYSIS City of Whitefish - Annual Financial Report Page 4 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 The discussion and analysis of the City of Whitefish’s financial performance provides an overview of the City’s financial activities for the fiscal year ended June 30, 2018. The City encourages readers to consider the information presented in conjunction with the City’s financial statements and accompanying notes. FINANCIAL HIGHLIGHTS ● The total assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows of resources at June 30, 2018 by $100,961,755 as reported in the statement of net position. This figure represents an increase of $7,885,011 in net position from the prior year. ● The total fiscal year end governmental fund balance was $12,750,925 as reported in the balance sheet for governmental funds. This figure represents an increase of $976,607 from the prior year. ● The unassigned general fund balance at fiscal year-end was $1,027,474. This figure represents an increase of $93,029 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 (e.g. delinquent taxes and earned, but unused vacation leave). City of Whitefish - Annual Financial Report Page 5 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 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, with the exception of 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. The Volunteer Fire Pension Trust Fund is used as a clearing account for assets held by the City until the funds are disbursed to the Fire Department Relief Association. Two administrative agency funds for payroll and claims are also used as clearing accounts. City of Whitefish - Annual Financial Report Page 6 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 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. 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, 2018 totaled $100,961,755, which is an increase of $7,885,011 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 FY18 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. 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 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. City of Whitefish - Annual Financial Report Page 7 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 The following table presents consolidated information on the City’s net position as of June 30, 2018 and June 30, 2017. City of Whitefish - Net Position Governmental Business-type Activities Activities Change Change FY18 FY17 Inc (Dec) FY18 FY17 Inc (Dec) Current and other assets $ 18,606,372 $ 17,607,127 $ 999,245 $ 11,247,713 $ 10,070,587 $ 1,177,126 Capital assets 73,933,112 72,810,377 1,122,735 34,124,465 33,520,163 604,302 Total assets 92,539,484 90,417,504 $ 2,121,980 $ 45,372,178 $ 43,590,750 $ 1,781,428 Long-term debt outstanding $ 15,993,278 $ 18,992,015 $ (2,998,737) $ 12,129,105 $ 13,611,839 $ (1,482,734) Other liabilities 7,242,255 6,800,997 441,258 1,585,269 1,526,659 58,610 Total liabilities $ 23,235,533 $ 25,793,012 $ (2,557,479) $ 13,714,374 $ 15,138,498 $ (1,424,124) Invested in capital assets, net of debt $ 60,807,739 $ 56,485,824 $ 4,321,915 $ 22,760,902 $ 20,687,600 $ 2,073,302 Restricted 14,641,134 13,199,140 1,441,994 3,165,002 3,138,677 26,325 Unrestricted (deficit) (6,144,922) (5,789,495) (1,084,450) 5,731,900 4,625,975 1,105,925 Total net position $ 69,303,951 $ 64,624,492 $ 4,679,459 $ 31,657,804 $ 28,452,252 $ 3,205,552 The City’s revenues totaled $29,650,620 for the fiscal year ending June 30, 2018. The total cost of all programs and services for that same period was $21,764,395. Therefore, the increase in net position was $7,886,225. The table below presents consolidated information on the City’s change in net position for the fiscal years ending June 30, 2018 and June 30, 2017. City of Whitefish - Annual Financial Report Page 8 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 City of Whitefish – Changes in Net Position Governmental Business-type Activities Activities Change Change FY18 FY17 Inc (Dec) FY18 FY17 Inc (Dec) Revenues Program revenues (by major source): Charges for services $ 5,953,706 $ 4,958,048 $ 995,622 $ 7,443,275 $ 6,543,504 $ 899,771 Operating grants and contributions 430,223 321,897 108,326 Capital grants and contributions 64,462 88,381 (23,919) 336,086 (336,086) General revenues (by major source): Property taxes for general purposes 8,769,895 8,741,206 28,689 Resort Taxes 3,987,447 3,657,607 329,840 Franchise/Utility Fees 440,391 394,775 45,616 Miscellaneous 503,240 232,402 270,838 Interest/investment earnings 112,140 84,396 27,744 96,367 51,386 44,981 State entitlement 1,090,946 1,086,468 4,478 Cash In-lieu revenues 49,735 70,993 (21,258) On behalf payments 692,013 594,955 97,058 16,780 18,774 (1,994) Total revenues $ 22,094,198 $ 20,231,164 $ 1,863,034 $ 7,556,422 $ 6,949,750 $ 606,672 Program expenses General government $ 1,928,555 $ 1,401,092 $ 527,463 Public safety 7,309,044 7,071,209 237,835 Public works 3,141,744 3,068,031 73,713 Social and economic services 3,000 - 3,000 Culture and recreation 2,248,513 2,076,976 171,537 Housing and community development 1,302,630 1,144,945 157,685 Debt service - interest 413,351 404,772 8,579 Miscellaneous 50,792 46,746 4,046 Water $ 2,498,972 $ 2,169,822 $ 329,150 Sewer 2,642,243 2,220,825 421,418 Solid Waste 6,648 16,322 (9,674) Total expenses $ 16,397,629 $ 15,213,771 $1,183,858 $ 5,147,863 $ 4,406,969 $ 740,894 Increase (decrease) in net position $ 5,696,569 $ 5,017,393 $ 679,176 $ 2,408,559 $ 2,542,781 $ (134,222) Gain (loss) on sale of capital assets $ (218,903) $ - $ (218,903) $ - $ - $ - Transfers - net $ (841,488) $ (579,241) $ (262,247) $ 841,488 $ 579,241 $ 262,247 Total Increase (decrease in net position) $ 4,636,178 $ 4,438,152 $ 198,026 $ 3,250,047 $ 3,122,022 $ 128,025 City of Whitefish - Annual Financial Report Page 9 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 Governmental activities Revenues for the fiscal year ending June 30, 2018 from governmental activities were $22,094,198 while expenses were $16,397,629. Thus, with the $841,488 in transfers-out and loss on the sale of capital assets of $218,903, net position increased $4,636,178. Total governmental revenues increased from the prior year by $1,863,034. The increase in revenues was primarily due to increased property taxes and assessments, as well as increased Resort Tax collections. Overall expenses increased by $1,183,858, which was mostly due to increases in general government activities and public safety that was offset by decreases in public work activities. Increases in wages and benefit, as well as the costs of post-employment benefits and pension costs all continue to be contributing factors. Business-type activities Revenue for the fiscal year ending June 30, 2018 from business-type activities was $7,556,422. Expenses were $5,147,863 and net transfers-in totaled $841,488, which resulted in an increase in net position of $3,250,047. Charges for services revenue increased by $899,771 from the previous year due to rate increases for both water and sewer service as the City prepares for the complete upgrade of the wastewater treatment plant. Total expenses also experienced an expected increase during FY18, which is primarily attributed increased costs for wages and benefits and the timing of capital projects. Fund Balance – Governmental Funds Balance Sheet The City’s governmental funds reported a total fund balance of $12,750,925 as of June 30, 2018, which is a $976,607 increase compared to the fund balance of governmental funds as of June 30, 2017. The significant increase in fund balance is primarily due to the stronger building environment, reduced capital costs since the completion of City Hall and the Parking Structure, and improving cash reserves as approved in the FY18 Budget. Of the fund balance at June 30, 2018, $1,027,474 is unassigned in the General. The remaining fund balance is restricted or committed based on the source of revenue or unassigned due to a negative fund balance. City of Whitefish - Annual Financial Report Page 10 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 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 2018 five budget amendments were approved by the City Council and are detail below: Fund Amount Reason for Budget Amendment General Fund $39,397.00 To provide for the unexpected damage to the Wave Aquatic & Fitness Center Building during the winter. A claim was filed with the City’s property insurance and payment was made to City, which was passed onto the Wave to repair the damage to the building. Fire & Ambulance Fund $240,000.00 To provide for the significant adjustments required by Medicare and Medicaid for ambulance bills. As ambulance rates increase, so do the required adjustments. Additional revenue from ambulance services and the Rescue Care Program helped offset the full $240,000.00. Commercial Lighting District Fund $20,000.00 To cover the additional costs of the approved LED Street Lighting Upgrade Project to ensure the City can take advantage of the rebates offered by Flathead Electric Co-op. Parkland Acquisition & Development Fund $6,500.00 To cover the additional costs of the Bakke Improvement Project. Whitefish Trail Construction Fund $95,000.00 To cover expenditures related to the Whitefish Trail Projects with contributions provided by Whitefish Legacy Partners including grants reimbursements. 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. Overall the General Fund tracked closely with the budget for both revenues and expenditures, once the budget amendment is taken into account. An increase in Planning Fees and Court Fines & Forfeitures continued into FY18, which is attributed to the strong building environment and the increased issuance of tickets and improved in-house prosecution. The Resort Tax Fund collected $326,908 more than expected due to the thriving economy and increased collections remitted by local businesses. The Resort Tax Fund also expended less than expected by $945,118 due to the timing of the Somers Avenue Street Project. The Tax Increment Fund revenues tracked closely with the FY18 Budget, but expenditures were less due to urban renewal project timing. The Fire & Ambulance Fund, once the budget amendment was accounted for, tracked closely with the anticipated budget. City of Whitefish - Annual Financial Report Page 11 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 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, 2018 total $108,057,577. The City’s capital assets include easements, land, buildings, 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 fiscal year 2018 totaled $3,505,137 and $1,257,905, respectively. Major capital assets events during fiscal year 2018:  Finalized construction of City Hall and retail space in new parking structure  Purchased vehicles for Building, Police, and Public Works  Purchased a new Ambulance and Command Vehicle for the Fire Department (~$260K)  Purchased new downtown snowblower for Public Works Department (~$100K)  Continued making improvements to the Whitefish Trail  Continued design and construction for multiple water and sewer projects  Completed Riverside Tennis Courts (~$182K)  Completed improvements to Lacrosse Field irrigation system ($120K)  Paved parking lot at dog park (~$76K)  Expanded the storage facilities for the Parks & Recreation and Public Works Departments (~$90K) City of Whitefish - Annual Financial Report Page 12 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 Long-term Debt The City’s total long-term debt decreased by $3,882,797 compared to prior fiscal year. Below is a summary of the outstanding long-term debt of the City as of June 30, 2018 compared to June 30, 2017. Outstanding Long-term Debt Purpose/Type June 30, 2018 June 30, 2017 Revenue Bonds: TIF 2015 Refunding (ESC) $ 3,722,000 $ 5,147,000 TIF 2016 (City Hall/Park Str.) 7,330,000 9,030,000 Water 7,907,000 9,138,000 Sewer 3,456,563 3,694,563 Special Assessment Bonds: SID 166 515,000 585,000 SID 167 769,669 779,000 Intercap Loans: Ice Rink - 15,892 Ambulance 31,252 62,315 Police Vehicle - - Fire Engine 320,104 367,647 Fire Pumper 122,358 152,197 Fire SCBA Units 139,989 185,503 Ambulance 175,000 - OPEB: Governmental* 1,635,938 1,062,701 Business-type 485,789 516,771 Compensated Absences: Governmental 1,003,954 1,062,701 Business-type 279,753 262,505 Net Pension Liability: Governmental 5,947,490 5,767,896 Business-type 1,117,374 1,012,339 TOTAL $34,959,233 $38,842,030 *See notes to financial statements. FISCAL YEAR 2019 BUDGET AND ECONOMIC FACTORS During a non-reappraisal year, the growth of property tax revenue is restricted to only newly taxable property that results from new construction or annexations. The taxable value is provided by the Montana Department of Revenue and final figures received resulted in an increase in the City’s taxable value for FY19 of 2.18% compared to the prior year. With the growth of taxable value and an increase in the Resort Tax Relief from higher than expected collections through the end of FY18, the FY19 budget balanced with the number of total property tax mills levied by the City remaining the same as the prior year. The only growth in property tax revenue for FY19 is 2.18%, which is from newly taxable property. City of Whitefish - Annual Financial Report Page 13 of 130 ---PAGE BREAK--- CITY OF WHITEFISH ANNUAL FINANCIAL REPORT MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2018 Total appropriations for FY19 is $3,275,314 or 8.0% higher than last year’s budget mostly due to an increase in capital projects, the addition of new staff positions, increases in wages and health benefits, a significant increase in interfund transfers, and an increase in cash reserves. The FY19 Budget also provides for some small increases to maintenance assessments to continue to address capital projects so further deferral does not occur. For FY19 a Stormwater Assessment increase of $50.00 was approved to re-allocate personnel costs from other departments back to the Stormwater Fund. Since 2010 these other departments subsidized the Stormwater fund as a result of the recession and the need to make cuts to help ease the burden on taxpayers. Starting in FY19, the City is working to correct this subsidy and make the Stormwater program self- balancing. With construction activity remaining strong in the City of Whitefish, the building license and permit revenue is expected to continue the trend from the prior year with higher revenues in FY19. The increase in construction also has a positive impact on the City’s impact fees collections. Like the strong construction environment, the spending activity by consumers in the City continues to improve as the Resort Tax collections are tracking higher than the previous year. At the end of the first quarter of FY19, Resort Tax collections were up 6% compared to the prior year’s first quarter. Water and Wastewater service charges for FY19 are anticipated to exceed the prior year due to a rate increase that was effective October 1, 2018. Future rate increases are also expected as the City is working on plans to replace the current wastewater treatment plant that cannot meet certain regulatory treatment standards. 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 Assistant City Manager/Finance Director, City of Whitefish, P.O. Box 158, Whitefish MT 59937. City of Whitefish - Annual Financial Report Page 14 of 130 ---PAGE BREAK--- BASIC FINANCIAL STATEMENTS City of Whitefish - Annual Financial Report Page 15 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 16 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 17 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 18 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 19 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 20 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 21 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 22 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 23 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 24 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 25 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. 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 units of which the City appointed a voting majority of the component units’ 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. 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 reporting entity except fiduciary funds. The statements distinguish between governmental and business-type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other non-exchange revenues. Business-type activities are financed in whole or in part by fees charged to external parties for goods or services. Eliminations have been made in the consolidation of business-type activities. The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the City’s governmental activities. Direct expenses are those that are specifically associated with a program or function. The City charges indirect expenses to programs or functions. The types of transactions reported as program City of Whitefish - Annual Financial Report Page 26 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or activity and 2) operating grants and contributions, and 3) capital grants and contributions. Revenues that are not classified as program revenues, including all property taxes, are presented as general revenues. Certain eliminations have been made as prescribed by GASB 34 in regards to inter-fund activities, payables and receivables. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column. In the Statement of Activities, internal service fund transactions have been eliminated; however, those transactions between governmental and business-type activities have not been eliminated. Measurement Focus and Basis of Accounting Government-Wide Financial Statements 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 assets are available. Fund Financial Statements: Basis of Presentation Fund financial statements of the reporting City are organized into funds, each of which is considered to be separate accounting entities. Each fund is accounted for by providing a separate set of self-balancing accounts. Fund accounting segregates funds according to their intended purpose and is used to aid 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: City of Whitefish - Annual Financial Report Page 27 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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 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 to be upon receipt. 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: City of Whitefish - Annual Financial Report Page 28 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. In fiscal year 2016, the resort tax rate was increased and is described later in the notes to the financial statements. Tax Increment Fund – special revenue fund that was established in 1987 is used to account for urban renewal activities within the boundaries of the Whitefish Tax Increment District. In accordance with Montana Code Annotated (MCA) 7-15- 4292, tax increment districts must be terminated 15 years after their creation or at a later date necessary to pay all bond obligations, termination of the district is projected to be July 15, 2020. 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 principle and interest on long-term debt. SID167 Bond Debt – 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 City of Whitefish - Annual Financial Report Page 29 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. 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: Agency Funds – To report resources held by the reporting government in a purely custodial capacity (assets equal liabilities). This fund primarily consist of assets held by the City as an agent for individuals, private organizations, other local governmental entities and the City’s claims and payroll clearing funds NOTE 2. CASH, CASH EQUIVALENTS, AND INVESTMENTS Cash Composition Composition of cash, deposits and investments at fair value on June 30, 2018, are as follows: Primary Government Cash on hand and deposits: Petty cash $ 1,000 Demand deposits 9,736,716 City of Whitefish - Annual Financial Report Page 30 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Savings/Money Market deposits 390,194 Investments: State Short-Term Investment Pool (STIP) 10,314,952 Currency/Receivable 3,200 Money Market 4,072 Certificates of Deposit 2,789,583 US Government Securities 1,398,083 Total $ 24,637,800 Credit Risk 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 authorize in Section 7-6-202 may be placed in time or savings deposits with a bank, savings and loan association, or credit union in the state or place in repurchase agreements as authorized in Section 7-6-213. Section 7-6-202, MCA, as amended, now limits authorized investments in certain securities that previously were permissible investments. The amendment does not apply to and does not require the sale of securities that were legal investments before the effective date of this act. However, the investments reported as collateralized mortgage obligations above are not authorized investments at the current time. The government has no investment policy that would further limit its investment choices. City of Whitefish - Annual Financial Report Page 31 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 The government has no investments that require credit risk disclosure. Short Term Investment Pool (STIP) Credit Quality ratings by the S&P’s rating services as of June 30, 2018, (in thousands) unaudited: Security Investment Type Total Fixed Income Investments at Fair Value Credit Quality Rating Weighted Average Maturity in Days Treasuries $ 19,900 A-1+ 97 Corporate: Corporate Commercial Paper 288,944 A-1 71 Corporate Notes 225,944 A-1 + 67 Certificates of Deposit 546,591 A-1 41 Total Investments $ 1,080,556 For the period prior to June 30, 2016, the STIP portfolio was shown at amortized cost. Audited financial statements for the State of Montana’s Board of Investments are available at 555 Fuller Avenue in Helena, Montana. Cash equivalents For purposes of the statement of cash flows, the enterprise and internal services funds consider all funds (including restricted assets) held in the City’s cash management pool to be cash equivalents. 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 $ 25,000 Improvements 5 – 20 years $ 25,000 Equipment 3 – 40 years $ 5,000 Infrastructure 10 – 40 years $ 75,000 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 City of Whitefish - Annual Financial Report Page 32 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 value of all infrastructure into the 2018 Basic Financial Statements. A summary of changes in governmental capital assets was as follows: Governmental activities: Balance Balance July 1, 2017 Additions Retirements Transfers June 30, 2018 Capital assets not being depreciated: Land $ 8,725,278 $ - $ - $ - $ 8,725,278 Construction in progress 708,962 2,720,916 (389,090) 3,040,788 Total capital assets not being depreciated $ 9,434,240 $ 2,720,916 $ - $ (389,090) $ 11,766,066 Other capital assets: Buildings $ 36,463,340 $ 1,142,683 $ (392,065) $ 35,128 $ 37,249,086 Improvements other than buildings 2,509,180 103,894 - 349,488 2,962,562 Machinery and equipment 7,633,620 668,045 - - 8,301,665 Infrastructure 42,183,821 211,237 - 4,474 42,399,532 Total other capital assets at historical cost $ 88,789,961 $ 2,125,859 $ (392,065) $ 389,090 $ 90,912,845 Less: accumulated depreciation $ (25,413,824) $ (3,505,137) $ 173,162 $ - $ (28,745,799) Total $ 72,810,377 $ 1,341,638 $ (218,903) $ - $ 73,933,112 Governmental activities depreciation expense was charged to functions as follows: Governmental Activities: General government $ 466,534 Public safety 592,748 Public works 1,808,078 Culture and recreation 637,777 Total governmental activities depreciation expense $ 3,505,137 A summary of changes in business-type capital assets was as follows: Balance Balance July 1, 2017 Additions Transfers Adjustments June 30, 2018 Capital assets not being depreciated: Land $ 602,783 $ - $ - $ - $ 602,783 Haskill Basin Conservation Easement 7,730,248 - - - 7,730,248 Construction in progress 241,050 1,612,849 (120,701) 4,400 1,737,598 Total capital assets not being depreciated $ 8,574,081 $ 1,612,849 $ (120,701) $ 4,400 $ 10,070,629 Other capital assets: Buildings $ 792,287 $ - $ 42,578 $ - $ 834,865 Machinery and equipment 134 - - - 134 Pumping plant 3,170,905 - - - 3,170,905 Treatment plant 16,515,158 - - - 16,515,158 Transmission and distribution 21,731,410 51,182 33,987 (4,400) 21,812,179 General plant 2,041,689 198,176 44,136 - 2,284,001 Total other capital assets at historical cost $ 44,251,583 $ 249,358 $ 120,701 $ (4,400) $ 44,617,242 Less: accumulated depreciation $ (19,305,501) $ (1,257,905) $ - $ - $ (20,563,406) Total $ 33,520,163 $ 604,302 $ - $ - $ 34,124,465 City of Whitefish - Annual Financial Report Page 33 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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, 2018, the following changes occurred in liabilities reported in long-term debt: Governmental Activities: Balance Balance Due Within July 1, 2017 Additions Deletions June 30, 2018 One Year Special assessment bond $ 1,364,000 $ - $ (79,330) $ 1,284,670 $ 91,724 Revenue bonds 14,177,000 - (3,125,000) 11,052,000 3,471,000 Compensated absences 1,062,701 169,266 - 1,231,967 1,003,954 Intercap loans 783,553 175,000 (169,850) 788,703 188,791 Net pension liability* 5,767,896 179,594 - 5,947,490 - Other post-employment benfits** 1,604,761 31,177 - 1,635,938 - Total $ 24,759,911 $ 555,037 $ (3,374,180) $ 21,940,768 $ 4,755,469 *See Note 6 **See Note 5 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, 2017 Additions Deletions June 30, 2018 One Year Revenue bonds $ 12,832,563 $ - $ (1,469,000) $ 11,363,563 $ 1,511,410 Compensated absences 262,505 24,532 (7,284) 279,753 190,764 Net pension liability* 1,012,339 105,035 - 1,117,374 - Other post-employment benfits** 516,771 1,534 (32,516) 485,789 - Total $ 14,624,178 $ 131,101 $ (1,508,800) $ 13,246,479 $ 1,702,174 *See Note 6 **See Note 5 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 City of Whitefish - Annual Financial Report Page 34 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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 Entity 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, 2018 were as follows: Purpose Origination Date Interest Rate Bond Term Maturity Date Bonds Amount Annual Payment Balance June 30, 2018 SID #166 - JP Road Project 7/6/06 3.65-4.80% 20 yrs 7/1/26 $ 1,360,000 varies $ 515,000 SID #167 1/5/17 4.36% 20 yrs 7/1/37 389,500 varies 384,835 SID #167 1/5/17 4.36% 20 yrs 7/1/37 389,500 varies 384,835 $ 2,139,000 $ 1,284,670 Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2019 $ 91,724 $ 57,502 2020 92,902 53,367 2021 94,132 49,147 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 58,090 1,905 Total $ 1,284,670 $ 479,478 City of Whitefish - Annual Financial Report Page 35 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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, at year-end were as follows: Purpose Origination Date Interest Rate Bond Term Maturity Date Bonds Amount Annual Payment Balance June 30, 2018 2016 A Tax Increment Urban renewal Bond (Glacier Bank) 3/1/16 2.21% 4 yrs 7/15/20 $4,900,000 N/A $3,665,000 2016B Tax Increment Urban Renewal Bond (First Interstate Bank) 3/1/16 2.21% 4 yrs 7/15/20 $4,900,000 N/A 3,665,000 2015 Tax Increment Urban Renewal Refunding Bonds 2015A (Glacier Bank) 6/10/15 2.62% 5 yrs 7/15/20 $3,591,500 varies 1,861,000 2015 Tax Increment Urban Renewal Refunding Bonds 2015B (First Interstate) 6/10/15 2.62% 5yrs 7/15/20 $3,591,500 varies 1,861,000 DNRC - Water 1999 6/21/99 2.00% 20 yrs 7/1/19 $5,839,000 varies 391,000 Water #06098- 2007 6/15/06 2.25% 20 yrs 7/1/26 $248,699 varies 417,000 Water WRF #08110 – 2006 9/6/07 2.25% 20 yrs 7/1/27 $900,000 varies 424,000 Water SRF (2009B) 10/21/09 0.75% 20 yrs 7/1/29 $120,100 varies 66,000 Water System Revenue Bond, Taxable Series 2016 (Haskill Basin) 1/1/16 2.50% 20 yrs 1/1/25 8,219,500 varies 6,499,000 Water DNRC Series 2015 12/7/15 2.50% 30 yrs 1/1/36 120,000 110,000 Sewer SRF 2002 Series 7/1/02 2.00% 20 yrs 7/1/22 200,000 varies 47,000 Sewer DNRC (2008A) 12/11/08 2.25% 20 yrs 7/1/28 500,000 varies 233,000 Sewer DNRC (2008B) 1/16/09 2.25% 20 yrs 1/1/29 1,711,000 varies 789,000 Sewer DNRC (2010B) 2/4/10 0.75% 20 yrs 1/1/30 48,211 varies 32,000 Sewer 2011B 8/1/11 3.00% 20 yrs 7/1/31 340,000 varies 243,000 Sewer 2011C 8/1/11 3.00% 20 yrs 7/1/31 350,000 varies 264,764 Sewer - River Lakes 11/20/14 2.50% 20 yrs 1/1/35 300,000 varies 207,799 Sewer 2014 3/6/14 3.00% 20 yrs 1/1/34 452,300 varies 372,000 Sewer DNRC Series 2015 12/17/15 2.50% 20 yrs 7/1/36 960,000 varies 864,000 Sewer I & I 7/21/16 2.50% 20 yrs 1/1/36 439,085 varies 404,000 $37,730,895 $ 22,415,563 Reported in Government Activities Report in Business-Type Activities Revenue bond resolutions include various restrictive covenants. The more significant covenants 1) require that cash be restricted and reserved for operations, construction, debt service, and replacement and depreciation; 2) specify minimum required operating revenue; and 3) specific and timely reporting of financial information to bond holders and the registrar. The City was in compliance with applicable covenants as of June 30, 2018. City of Whitefish - Annual Financial Report Page 36 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2019 $ 4,991,000 $ 463,540 2020 5,059,000 352,121 2021 5,028,000 215,468 2022 1,366,000 147,410 2023 1,456,000 118,595 2024 1,577,000 88,914 2025 1,060,000 56,550 2026 401,000 42,325 2027 265,000 34,483 2028 171,000 27,896 2029 168,000 23,943 2030 164,000 20,040 2031 163,764 16,135 2032 139,000 11,710 2033 130,000 8,400 2034 120,799 5,375 2035 94,000 2,650 2036 62,000 760 Total $ 22,415,563 $ 1,636,315 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, 2018 were as follows: Purpose Origination Date Interest Rate Term Maturity Date Principal Amount Balance June 30, 2018 Ice Rink 10/1/2012 1.00-1.55% 5yrs 8/15/2017 $ 140,000 $ - Emergency Vehicle 3/14/2014 1.00-1.55% 5yrs 2/15/2019 155,597 31,252 Fire Pumper Type 1 6/20/2014 1.00-1.55% 10yrs 8/15/2024 485,112 133,567 Fire Pumper 10/3/2014 1.00-1.55% 10 yrs 8/15/2024 282,659 186,537 Water Tender Fire Apparatus 2/13/2015 1.00-1.55% 7 yrs 2/15/2022 211,000 122,358 Fire SCBAs 12/4/2015 1.25-2.5% 5 yrs 2/15/2021 230,453 139,989 Ambulance 2/16/2018 3.15% 5 yrs 2/15/2023 175,000 175,000 Total $ 1,679,821 $ 788,703 City of Whitefish - Annual Financial Report Page 37 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Reported in the governmental activities. Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2019 $ 188,791 $ 23,338 2020 159,724 17,643 2021 161,951 12,595 2022 116,373 7,851 2023 86,713 4,418 2024 50,473 1,971 2025 24,678 389 Total $ 788,703 $ 68,205 Compensated Absences 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 no 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 healthcare plan provides for, and Montana State Law (2-18-704) requires local governments to allow employees with at least 5 years of service and who are at least age 50 along with surviving spouses and dependents to stay on the government's health care plan as long as they pay the same premium. This creates a defined benefit Other Post-Employment Benefits Plan (OPEB), since retirees are usually older than the average age of the plan participants they receive a benefit of lower insurance rates. The OPEB plan is a single-employer defined benefit plan administered by the City. The government has not created a trust to accumulate assets to assist in covering the defined benefit plan costs, and covers these when they come due. The government has less than 100 plan members and thus qualifies to use the “Alternative Measurement Method” for calculating the liability. The above described OPEB plan does not provide a stand-alone financial report. City of Whitefish - Annual Financial Report Page 38 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Benefits Provided. The government provides healthcare insurance benefits for retirees and their dependents upon reaching the age and service years defined in MCA 2-18-704. The benefit terms require that eligible retirees cover 100 percent of the health insurance premiums, but may pay the same premiums as the other members in the group health plan. Employees covered by benefit terms. At June 30, 2018, the following employees were covered by the benefit terms: Inactive employees or beneficiaries receiving benefit payments 19 Active employees 78 Total employees 97 Total OPEB Liability The City’s total OPEB liability of $2,121,727 at June 30, 2018, and was determined by using the alternative measurement method as of that date. Actuarial assumptions and other input. The total OPEB liability in the June 30, 2018 alternative measurement method was determined using the following assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Average age of retirement (based on historical data) 65 Discount rate (average anticipated rate) 3.10% Average salary increase (Consumer Price Index) 3.80% Health care cost rate trend (Federal Office of the Actuary) Year % Increase 2018 6.20% 2019 6.00% 2020 5.80% 2021 5.60% 2022 5.40% 2023 5.20% 2024 and after 5.40% The discount rate was based on the 20 year General obligation (GO) bond index. Life expectancy of employees was based on the United States Life Tables, 2011 for Males: Table 2 and Females: Table 3 as published in the National Vital Statistics Reports, City of Whitefish - Annual Financial Report Page 39 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Vol. 64, No. 11, September 22, 2015. The turnover rates were determined from the periodic experience studies of the Montana public retirement systems for the covered groups as documented in the GASB 68 actuarial valuations. Changes in the Total OPEB Liability Balance at 6/30/2017 $ 2,121,532 Changes for the year: Service Cost $ 171,915 Interest 65,767 Difference between expected and actual experience (801,946) Changes in assumptions 564,459 Net Changes $ 195 Balance at 6/30/2018 $ 2,121,727 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 (2.10%) Discount Rate (3.10%) 1% Increase (4.10%) Total OPEB Liability 2,615,858 $ 2,121,727 $ 1,743,913 $ 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 1,744,993 $ 2,121,727 $ 2,639,852 $ *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, 2018, the City recognized an OPEB expense of $171,915. The City does not report any deferred outflows of resources and deferred inflows of resources related to OPEB as there were no differences between expected and actual City of Whitefish - Annual Financial Report Page 40 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 experience or changes in assumptions performed in the alternative measurement method. In addition, since City records costs as they come due there are no deferred outflows of resources for contributions to the OPEB plan trust. NOTE 6. NET PENSION LIABILITY Plan Descriptions PERS 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 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. MPORS 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 City of Whitefish - Annual Financial Report Page 41 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. FURS 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 provides retirement, disability, and death benefits to plan members and their beneficiaries. Summary of Benefits PERS 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; Hired on or after July 1, 2013 – 110% annual cap on compensation considered as part of a member’s highest average compensation. Eligibility for benefit 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. City of Whitefish - Annual Financial Report Page 42 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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:  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 .77% effective July 1, 2017). 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 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. City of Whitefish - Annual Financial Report Page 43 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. MPORS Service retirement:  20 years of membership service, regardless of age.  Age 50 with 5 years of membership service.  2.5% of FAC x years of service credit. Second retirement: (applies to members re-employed in a MPORS 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 City of Whitefish - Annual Financial Report Page 44 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. 3) 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 Minimum benefit adjustment (non-GABA) If hired before July 1, 1997 and member did not elect GABA, the minimum benefit adjustment provided is equal to 50% of the current base compensation of a newly confirmed police officer of the employer that last employed the member as a police officer. City of Whitefish - Annual Financial Report Page 45 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 FURS Eligibility for benefit and benefit formulas 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 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. Overview of Contributions PERS 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; City of Whitefish - Annual Financial Report Page 46 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. 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. b. Not Special Funding i. The State contributes a portion of Coal Severance Tax income and earnings from the Coal Severance Tax fund. MPORS 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. City of Whitefish - Annual Financial Report Page 47 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Member Fiscal Year Hired <7/1/75 Hired >6/30/75 Hired >6/30/79 Hired>6/30/97 GABA Employer State 2000-2018 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% FURS 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 1998-2018 9.500% 10.700% 14.360% 32.610% 1997 7.800% 14.360% 32.610% Stand-Alone Statements The PERS’s, MPORS, FURS financial statements 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 the MPERA website at http://mpera.mt.gov. Net Pension Liability In accordance with GASB Statement 68, Accounting and Financial Reporting for Pensions, employers are required to recognize and report certain amounts associated with their participation in the Public Employees’ Retirement System(PERS), Municipal Police Officers’ Retirement System (MPORS) and Firefighters’ Unified’ Retirement System (FURS) Statement 68 became effective June 30, 2016 and includes requirements to record and report their proportionate share of the collective Net Pension Liability, Pension Expense, Deferred Inflows and Deferred Outflows of resources associated with pensions. In accordance with Statement 68, the System has a special funding situation in which the State of Montana is legally responsible for making contributions directly to PERS, MPORS, FURS that are used to provide pension benefits to the retired members. Due to the existence of a special funding situation, employers are also required to report the portion of the State of Montana’s proportionate share of the collective Net Pension Liability that is associated with the employer. City of Whitefish - Annual Financial Report Page 48 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 The State of Montana also has a funding situation that is not Special Funding whereby the State General Fund provides contributions from the Coal Severance Tax and interest to PERS. All employers are required to report the portion of Coal Tax Severance Tax and interest attributable to the employer. The following table displays the amounts and the percentages of Net Pension Liability for the fiscal years ended June 30, 2017 and June 30, 2016 (reporting dates). PERS NPL as of 6/30/2017 PERS NPL as of 6/30/2018 Percent of Collective NPL as of 6/30/2018 FURS NPL as of 6/30/17 FURS NPL as of 6/30/18 Percent of Collective NPL as of 6/30/2018 MPORS NPL as of 6/30/17 MPORS NPL as of 6/30/18 Percent of Collective NPL as of 6/30/2018 Total Collective NPL as of 6/30/2018 Percent Totals as of 6/30/2018 Employer Proportionate Share $ 4,646,925 $ 5,129,069 0.26330% $ 910,727 $ 834,451 0.7382% $ 1,222,583 $ 1,101,345 0.6190% $ 7,064,864 1.6205% State of Montana Proportionate Share associated with Employer 56,780 68,528 0.3492% 2,063,421 1,894,948 1.6764% 2,426,881 2,244,725 1.2617% 4,208,201 3.2873% Total $ 4,703,705 $ 5,197,597 0.6125% $ 2,974,148 $ 2,729,399 2.4146% $ 3,649,464 $ 3,346,070 1.8807% $ 11,273,065 4.9078% At June 30, 2018, the employer recorded a liability of $7,064,865 for its proportionate share of the Net Pension Liability. The net pension liability was measured as of June 30, 2016, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2016. The employer’s proportion of the net pension liability was based on the employer’s contributions received by PERS, MPORS, FURS during the measurement period July 1, 2016, through June 30, 2017, relative to the total employer contributions received from all of PERS, MPORS, FURS participating employers. At June 30, 2018, the employer’s proportion was 1.6205 percent. Changes in actuarial assumptions and methods: PERS Effective July 1, 2017, the following assumption changes were used:  Lowered the interest rate from 7.75% to 7.65%.  Lowered the inflation rate from 3.00% to 2.75%.  Updated non-disabled mortality to the RP-2000 Combined Employee and Annuitant Mortality Table projected to 2020 using scale BB, males set back 1 year.  Increased rates of withdrawal.  Lowered the merit component of the total salary increase.  Lowered the wage base component of the total salary increase from 4.00% to 3.50%.  Decreased the administrative expense load from 0.27% to 0.26%. City of Whitefish - Annual Financial Report Page 49 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 MPORS Effective July 1, 2017, the following assumption changes were used:  Lowered the interest rate from 7.75% to 7.65%.  Lowered the inflation rate from 3.00% to 2.75%.  Updated non-disabled mortality to the RP-2000 Combined Employee and Annuitant Mortality Table projected to 2020 using scale BB, males set back 1 year.  Increased the rates of withdrawal.  Lowered the merit component of the total salary increase.  Lowered the wage base component of the total salary increase from 4.00% to 3.50%.  Increased the administrative expense load from 0.20% to 0.24%. FURS Effective July 1, 2017, the following assumption changes were used:  Lowered the interest rate from 7.75% to 7.65%.  Lowered the inflation rate from 3.00% to 2.75%.  Updated non-disabled mortality to the RP-2000 Combined Employee and Annuitant Mortality Table projected to 2020 using scale BB, males set back 1 year.  Increased the rates of withdrawal.  Lowered the wage base component of the total salary increase from 4.00% to 3.50%.  Increased the administrative expense load from 0.19% to 0.23%. Effective July 1, 2017, the following method changes were used:  Administrative expenses are recognized by an additional amount added to the normal cost contribution rate for the System. This amount varies from year to year based on the prior year’s actual administrative expenses.  To be consistent with the wage base growth change, the payroll growth assumption for amortization as a level percent of pay was reduced from 4.00% to 3.50%. Changes in benefit terms: PERS Effective July 1, 2017, the following benefit changes were:  The interest rate credited to member accounts increased from 0.25% to 0.77%.  Lump sum payouts in all systems are limited to the member’s accumulated contributions rather than the present value of the member’s benefit. City of Whitefish - Annual Financial Report Page 50 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 FURS, MPORS Effective July 1, 2017, the following benefit changes were:  The interest rate credited to member accounts increased from 0.25% to 0.77%.  Second Retirement Benefit applies to retirement system members who return on or after July 1, 2017 to active service covered by the system from which they retired.  Lump sum payouts in all systems are limited to the member’s accumulated contributions rather than the present value of the member’s benefit. 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. Pension Expense as of 6/30/18 PERS FURS MPORS Total Employer Proportionate Share $ 653,105 $ 108,700 $ 139,748 $ 901,553 State of Montana Proportionate Share associated with the Employer 77,025 359,884 271,884 708,793 Total $ 730,130 $ 468,584 $ 411,632 $ 1,610,346 At June 30, 2018, the employer recognized a Pension Expense of $901,553 for its proportionate share of the pension expense. The employer also recognized grant revenue of $708,793 for the support provided by the State of Montana for its proportionate share of the pension expense that is associated with the employer. Recognition of Beginning Deferred Outflow At June 30, 2018, the employer recognized a beginning deferred outflow of resources for the employers FY 2017 contributions of $597,677. Deferred Inflows and Outflows At June 30, 2018, the employer reported its proportionate share of PERS, MPORS, FURS deferred outflows of resources and deferred inflows of resources related to PERS, MPORS, FURS from the following sources: City of Whitefish - Annual Financial Report Page 51 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 PERS Deferred Outflows of Resources PERS Deferred Inflows of Resources FURS Deferred Outflows Resources FURS Deferred Inflows of Resources MPORS Deferred Outflows Resources MPORS Deferred Inflows of Resources Total Deferred Outflows of Resources Total Deferred Inflows of Resources Differences between expected and actual economic experience $ 126,313 $ 7,424 $ 5,497 $ 6,311 $ - $ 37,578 $ 131,810 $ 51,313 Actual vs. Expected Investment Earnings - 34,447 688 - 957 - 1,645 34,447 Changes in Assumptions 701,090 - 104,603 - 74,338 - 880,031 - Changes in Proportion Share and Differences between Employer Contributions and Proportionate Share of Contributions 116,897 - - 73,962 - 19,972 116,897 93,934 Employer contributions sunsequent to the measurement date - FY18 335,619 - 166,946 - 138,578 - 641,143 - Total $ 1,279,919 $ 41,871 $ 277,734 $ 80,273 $ 213,873 $ 57,550 $ 1,771,526 $ 179,694 *Amounts reported as deferred outflows of resources related to pensions resulting from the employer’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2018. Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows: City of Whitefish - Annual Financial Report Page 52 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Deferred Inflows and Outflows PERS: Year ended June 30, Amount of Deferred Outflows and Deferred Inflows recognized in future years as an increase or (decrease) to Pension Expense 2019 $ 181,684 2020 $ 401,071 2021 $ 311,946 2022 $ (109,170) 2023 $ - Thereafter $ - FURS: Year ended June 30, Amount of Deferred Outflows and Deferred Inflows recognized in future years as an increase or (decrease) to Pension Expense 2019 $ 8,431 2020 $ 44,214 2021 $ 28,786 2022 $ 595 Thereafter $ 21,912 MPORS: Year ended June 30, Amount of Deferred Outflows and Deferred Inflows recognized in future years as an increase or (decrease) to Pension Expense 2019 $ (1,567) 2020 $ 31,406 2021 $ 24,121 2022 $ (16,242) 2023 $ - Thereafter $ - City of Whitefish - Annual Financial Report Page 53 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Actuarial Assumptions PERS The TPL used to calculate the NPL was determined by taking the results of the June 30, 2016, actuarial valuation and applying standard roll forward procedures to update the TPL to June 30, 2017. There were several significant assumptions and other inputs used to measure the TPL. The actuarial assumptions used in the June 30, 2017, valuation were based on the results of the last actuarial experience study, dated May 2017, for the six year period July 1, 2010 to June 30, 2016. Among those assumptions were the following:  Investment Return (net of admin expense) 7.65%  Admin Expense as % of Payroll 0.26%  General Wage Growth* 3.50%  *includes Inflation at 2.75%  Merit Increases 0% to 6.3%  Postretirement Benefit Increases: 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, 2014  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. MPORS The TPL used to calculate the NPL was determined by taking the results of the June 30, 2016, actuarial valuation and applying standard roll forward procedures to update the TPL to June 30, 2017. There were several significant assumptions and other inputs used to measure the TPL. The actuarial assumptions used in the June 30, 2017, valuation were based on the results of the last actuarial experience study, dated May 2017, for the six- year period July 1, 2010 to June 30, 2016. Among those assumptions were the following: City of Whitefish - Annual Financial Report Page 54 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Investment Return (net of admin expense) 7.65% Admin Expense as % of Payroll 0.24% General Wage Growth* 3.50% *includes Inflation at 2.75% Merit Increases 0% to 6.60%  Postretirement Benefit Increases i. 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. ii. 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. FURS The TPL used to calculate the NPL was determined by taking the results of the June 30, 2016, actuarial valuation and applying standard roll forward procedures to update the TPL to June 30, 2017. There were several significant assumptions and other inputs used to measure the TPL. The actuarial assumptions used in the June 30, 2017, valuation were based on the results of the last actuarial experience study, dated May 2017, for the six year period July 1, 2010 to June 30, 2016. Among those assumptions were the following:  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. City of Whitefish - Annual Financial Report Page 55 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 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. Discount Rate PERS, MPORS, FURS The discount rate used to measure the Total Pension Liability was 7.65%. The projection of cash flows used to determine the discount rate assumed that contributions from participating plan members, employers, and non-employer contributing entities will be made based on the Board’s funding policy, which establishes the contractually required rates under Montana Code Annotated. For PERS the State contributes 0.1% of salaries for local governments and 0.37% for 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 2121. 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. For MPORS the State contributes 29.37% 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 2124. 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. 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 2124. 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. City of Whitefish - Annual Financial Report Page 56 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Target Allocations PERS, MPORS, FURS Asset Class Target Asset Allocation Real Rate of Return Arithmetic Basis Long-Term Expected Real Rate of Return Cash Equivalents 2.60% 4.00% 0.10% Domestic Equity 36.00% 4.55% 1.64% Foreign Equity 18.00% 6.35% 1.14% Fixed Income 23.40% 1.00% 0.23% Private Equity 12.00% 7.75% 0.93% Real Estate 8.00% 4.00% 0.32% Total 100.00% 4.37% Inflation 2.75% Portfolio Return Expectation 7.12% The long-term expected return on pension plan assets was reviewed as part of the regular experience study prepared for the Plan. The most recent analysis, performed for the period of July 1, 2010 to June 30, 2016, is outlined in a report dated May 2017 and can be located on the MPERA website. The long-term expected rate of return on pension plan investments was determined by considering information from various sources, including historical rates of return, rate of return assumptions adopted by similar public sector systems, and by using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges were combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the target asset allocation as of June 30, 2017, are summarized above. The long-term expected nominal rate of return above of 7.12% is an expected portfolio rate of return provided by Board of Investments (BOI), which differs from the total long-term assumed rate of return of 7.65% in the experience study. The assumed investment rate is comprised of a 2.75% inflation rate and a real rate of return of 4.90%. City of Whitefish - Annual Financial Report Page 57 of 130 ---PAGE BREAK--- CITY OF WHITEFISH FLATHEAD COUNTY, MONTANA NOTES TO THE FINANCIAL STATEMENTS June 30, 2018 Sensitivity Analysis Current Discount Rate PERS $ 7,470,051 $ 5,129,069 $ 3,163,992 FURS $ 1,386,647 $ 834,451 $ 388,305 MPORS $ 1,603,600 $ 1,101,345 $ 698,642 1.0% Decrease 1.0% Increase 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 7.65%, as well as what the net pension liability would be if it were calculated using a discount rate that is 1.00% lower (6.65%) or 1.00% higher (8.65%) than the current rate. Summary of Significant Accounting Policies The Montana Public Employee Retirement Administration (MPERA (for PERS, MPORS, FURS)) 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). City of Whitefish - Annual Financial Report Page 58 of 130 ---PAGE BREAK--- REQUIRED SUPPLEMENTARY INFORMATION City of Whitefish - Annual Financial Report Page 59 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 60 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 61 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 62 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 63 of 130 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 64 of 130 ---PAGE BREAK--- OTHER SUPPLEMENTARY INFORMATION City of Whitefish - Annual Financial Report Page 65 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2110 2210 2220 2390 STREET AND ALLEY PARKS, RECREATION LIBRARY FUND DRUG FORFEITURE ASSETS Cash and cash equivalents 1,150,817.68 221,165.02 91,593.39 0.00 Petty cash 0.00 300.00 50.00 0.00 Cash and cash equivalents - restricted 0.00 ( 5,493.37) 0.00 0.00 Taxes receivable: Real estate 0.00 0.00 15,719.12 0.00 Personal 0.00 0.00 6.45 0.00 Protested 0.00 0.00 7,919.67 0.00 Special assessments 103,657.89 46,448.87 0.00 0.00 Other receivables 0.00 5,948.33 0.00 0.00 TOTAL ASSETS 1,254,475.57 268,368.85 115,288.63 0.00 Deferred Outflows of Resources LIABILITIES Accounts payable 60,702.61 20,563.42 7,678.65 0.00 Other accrued payables 25,673.67 57,552.69 6,149.73 0.00 Due to other funds 0.00 0.00 0.00 0.00 TOTAL LIABILITIES 86,376.28 78,116.11 13,828.38 0.00 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 103,657.89 46,448.87 23,645.24 0.00 Total Deferred Inflows of Resources 103,657.89 46,448.87 23,645.24 0.00 FUND BALANCES Unassigned (negative balance only) 1,064,441.40 143,803.87 77,815.01 0.00 Total Fund Balances 1,064,441.40 143,803.87 77,815.01 0.00 Total Liabilities, Deferred 1,254,475.57 268,368.85 115,288.63 0.00 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 66 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 2 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2394 2399 2400 2410 BUILDING CODES IMPACT FEES LIGHT DISTRICT #1 LIGHT DISTRICT #4 ASSETS Cash and cash equivalents 261,379.76 0.00 45,848.49 0.00 Petty cash 0.00 0.00 0.00 0.00 Cash and cash equivalents - restricted 0.00 335,644.58 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 10,366.38 9,895.50 Other receivables 0.00 0.00 0.00 0.00 TOTAL ASSETS 261,379.76 335,644.58 56,214.87 9,895.50 Deferred Outflows of Resources LIABILITIES Accounts payable 880.00 42,595.00 0.00 0.00 Other accrued payables 15,139.39 0.00 1,163.87 1,163.87 Due to other funds 0.00 0.00 0.00 367.54 TOTAL LIABILITIES 16,019.39 42,595.00 1,163.87 1,531.41 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 0.00 10,366.38 9,895.50 Total Deferred Inflows of Resources 0.00 0.00 10,366.38 9,895.50 FUND BALANCES Unassigned (negative balance only) 245,360.37 293,049.58 44,684.62 ( 1,531.41) Total Fund Balances 245,360.37 293,049.58 44,684.62 ( 1,531.41) Total Liabilities, Deferred 261,379.76 335,644.58 56,214.87 9,895.50 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 67 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 3 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2525 2917 2945 2987 STORM WATER CRIME VICTIMS ASSI CDBG HOUSING AND C HOUSING REHABILITA ASSETS Cash and cash equivalents 681,623.56 743.00 0.00 429.27 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 7,339.48 0.00 0.00 0.00 Other receivables 0.00 0.00 0.00 0.00 TOTAL ASSETS 688,963.04 743.00 0.00 429.27 Deferred Outflows of Resources LIABILITIES Accounts payable 16,342.92 0.00 0.00 0.00 Other accrued payables 0.00 0.00 0.00 0.00 Due to other funds 0.00 0.00 0.00 0.00 TOTAL LIABILITIES 16,342.92 0.00 0.00 0.00 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 7,339.48 0.00 0.00 0.00 Total Deferred Inflows of Resources 7,339.48 0.00 0.00 0.00 FUND BALANCES Unassigned (negative balance only) 665,280.64 743.00 0.00 429.27 Total Fund Balances 665,280.64 743.00 0.00 429.27 Total Liabilities, Deferred 688,963.04 743.00 0.00 429.27 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 68 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 4 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2989 2990 2992 2993 AFFORDABLE HOUSING PARKLAND AQUISITIO SIDEWALK DISTRICTS Cash In-Lieu of Su ASSETS Cash and cash equivalents 1,000.00 0.00 0.00 31,080.00 Petty cash 0.00 0.00 0.00 0.00 Cash and cash equivalents - restricted 0.00 22,282.42 187,909.28 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 TOTAL ASSETS 1,000.00 22,282.42 187,909.28 31,080.00 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 Due to other funds 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 Total Deferred Inflows of Resources 0.00 0.00 0.00 0.00 FUND BALANCES Unassigned (negative balance only) 1,000.00 22,282.42 187,909.28 31,080.00 Total Fund Balances 1,000.00 22,282.42 187,909.28 31,080.00 Total Liabilities, Deferred 1,000.00 22,282.42 187,909.28 31,080.00 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 69 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 5 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 Total Nonmajor Spec. Rev. Funds ASSETS Cash and cash equivalents 2,485,680.17 Petty cash 350.00 Cash and cash equivalents - restricted 540,342.91 Taxes receivable: Real estate 15,719.12 Personal 6.45 Protested 7,919.67 Special assessments 177,708.12 Other receivables 5,948.33 TOTAL ASSETS 3,233,674.77 Deferred Outflows of Resources LIABILITIES Accounts payable 148,762.60 Other accrued payables 106,843.22 Due to other funds 367.54 TOTAL LIABILITIES 255,973.36 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 201,353.36 Total Deferred Inflows of Resources 201,353.36 FUND BALANCES Unassigned (negative balance only) 2,776,348.05 Total Fund Balances 2,776,348.05 Total Liabilities, Deferred 3,233,674.77 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 70 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2110 STREET AND ALLEY 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 927,950.00 927,950.00 950,023.85 22,073.85 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Franchise fees 404,000.00 404,000.00 440,390.68 36,390.68 Building permits 0.00 0.00 0.00 0.00 Other licenses and permits 3,500.00 3,500.00 3,746.00 246.00 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 151,121.00 151,121.00 151,121.36 0.36 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 1,400.00 1,400.00 1,310.00 ( 90.00) 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 5,000.00 5,000.00 31,111.65 26,111.65 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 1,492,971.00 1,492,971.00 1,577,703.54 84,732.54 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 649,200.00 649,200.00 729,029.31 ( 79,829.31) Supplies/services/materials, etc 442,922.00 442,922.00 291,202.43 151,719.57 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 City of Whitefish - Annual Financial Report Page 71 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 2 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2110 STREET AND ALLEY Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 1,074,921.00 1,074,921.00 833,581.40 241,339.60 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 2,167,043.00 2,167,043.00 1,853,813.14 313,229.86 Excess of revenues over (under) expenditures ( 674,072.00) ( 674,072.00) ( 276,109.60) 397,962.40 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 Transfers out 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 ( 674,072.00) ( 674,072.00) ( 276,109.60) 397,962.40 Fund balance - July 1, 2017 - -As previously reported 1,340,551.00 1,340,551.00 1,340,551.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 1,340,551.00 1,340,551.00 1,340,551.00 0.00 Fund balance - June 30, 2018 666,479.00 666,479.00 1,064,441.40 397,962.40 City of Whitefish - Annual Financial Report Page 72 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 3 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 416,000.00 416,000.00 424,378.12 8,378.12 Licenses and permits Alcoholic beverage licenses 700.00 700.00 1,120.00 420.00 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 13,271.00 13,271.00 29,168.98 15,897.98 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 296,599.00 296,599.00 228,026.23 ( 68,572.77) Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 145,480.00 145,480.00 110,415.08 ( 35,064.92) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 872,050.00 872,050.00 793,108.41 ( 78,941.59) 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 41,638.00 41,638.00 33,577.83 8,060.17 Supplies/services/materials, etc 76,396.00 76,396.00 47,665.02 28,730.98 Public Health Social and Economic Services Culture and Recreation Personal services 906,892.00 906,892.00 877,078.72 29,813.28 Supplies/services/materials, etc 519,867.00 519,867.00 488,153.26 31,713.74 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 73 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 4 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2210 PARKS, RECREATION AND COMMUNITY SERVICES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 103,310.00 103,310.00 50,311.67 52,998.33 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 1,648,103.00 1,648,103.00 1,496,786.50 151,316.50 Excess of revenues over (under) expenditures ( 776,053.00) ( 776,053.00) ( 703,678.09) 72,374.91 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 0.00 0.00 Transfers in 741,498.00 741,498.00 741,498.00 0.00 Transfers out 0.00 0.00 0.00 0.00 Total other financing sources (uses) 741,498.00 741,498.00 741,498.00 0.00 Net change in fund balance ( 34,555.00) ( 34,555.00) 37,819.91 72,374.91 Fund balance - July 1, 2017 - -As previously reported 105,983.96 105,983.96 105,983.96 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 105,983.96 105,983.96 105,983.96 0.00 Fund balance - June 30, 2018 71,428.96 71,428.96 143,803.87 72,374.91 City of Whitefish - Annual Financial Report Page 74 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 5 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2220 LIBRARY FUND Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 169,169.00 169,169.00 169,256.35 87.35 Special assessments 0.00 0.00 0.00 0.00 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 2,400.00 2,400.00 0.00 ( 2,400.00) 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 12,500.00 12,500.00 10,578.48 ( 1,921.52) Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 30,000.00 30,000.00 26,573.43 ( 3,426.57) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 214,069.00 214,069.00 206,408.26 ( 7,660.74) 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 170,780.00 170,780.00 159,323.20 11,456.80 Supplies/services/materials, etc 131,389.00 131,389.00 103,050.66 28,338.34 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 75 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 6 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2220 LIBRARY FUND Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 302,169.00 302,169.00 262,373.86 39,795.14 Excess of revenues over (under) expenditures ( 88,100.00) ( 88,100.00) ( 55,965.60) 32,134.40 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 Transfers out 0.00 0.00 0.00 0.00 Total other financing sources (uses) 34,371.00 34,371.00 34,371.00 0.00 Net change in fund balance ( 53,729.00) ( 53,729.00) ( 21,594.60) 32,134.40 Fund balance - July 1, 2017 - -As previously reported 99,409.61 99,409.61 99,409.61 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 99,409.61 99,409.61 99,409.61 0.00 Fund balance - June 30, 2018 45,680.61 45,680.61 77,815.01 32,134.40 City of Whitefish - Annual Financial Report Page 76 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 7 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2390 DRUG FORFEITURE 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 0.00 0.00 0.00 0.00 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 City of Whitefish - Annual Financial Report Page 77 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 8 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2390 DRUG FORFEITURE Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 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 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 Transfers out 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, 2017 - -As previously reported ( 172,816.88) ( 172,816.88) ( 172,816.88) 0.00 Prior period adjustments 172,816.88 172,816.88 172,816.88 0.00 Fund balance - July 1, 2017 - As restated 0.00 0.00 0.00 0.00 Fund balance - June 30, 2018 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 78 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 9 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 440,000.00 440,000.00 479,093.11 39,093.11 Other licenses and 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 60,000.00 60,000.00 91,481.65 31,481.65 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 1,000.00 1,000.00 15.00 ( 985.00) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 501,000.00 501,000.00 570,589.76 69,589.76 EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 356,639.00 356,639.00 328,102.19 28,536.81 Supplies/services/materials, etc 70,780.00 70,780.00 67,039.26 3,740.74 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 City of Whitefish - Annual Financial Report Page 79 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 10 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2394 BUILDING CODES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 30,000.00 30,000.00 22,091.00 7,909.00 Debt Service Miscellaneous 54,187.00 54,187.00 50,791.73 3,395.27 Total expenditures 511,606.00 511,606.00 468,024.18 43,581.82 Excess of revenues over (under) expenditures ( 10,606.00) ( 10,606.00) 102,565.58 113,171.58 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 Transfers out 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 ( 10,606.00) ( 10,606.00) 102,565.58 113,171.58 Fund balance - July 1, 2017 - -As previously reported 142,794.79 142,794.79 142,794.79 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 142,794.79 142,794.79 142,794.79 0.00 Fund balance - June 30, 2018 132,188.79 132,188.79 245,360.37 113,171.58 City of Whitefish - Annual Financial Report Page 80 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 11 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 185,000.00 185,000.00 282,218.63 97,218.63 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 1,500.00 1,500.00 2,630.59 1,130.59 Total revenues 186,500.00 186,500.00 284,849.22 98,349.22 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 City of Whitefish - Annual Financial Report Page 81 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 12 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2399 IMPACT FEES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 70,000.00 70,000.00 47,318.50 22,681.50 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 70,000.00 70,000.00 47,318.50 22,681.50 Excess of revenues over (under) expenditures 116,500.00 116,500.00 237,530.72 121,030.72 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 Transfers out ( 74,159.00) ( 74,159.00) ( 74,159.00) 0.00 Total other financing sources (uses) ( 74,159.00) ( 74,159.00) ( 74,159.00) 0.00 Net change in fund balance 42,341.00 42,341.00 163,371.72 121,030.72 Fund balance - July 1, 2017 - -As previously reported 129,677.86 129,677.86 129,677.86 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 129,677.86 129,677.86 129,677.86 0.00 Fund balance - June 30, 2018 172,018.86 172,018.86 293,049.58 121,030.72 City of Whitefish - Annual Financial Report Page 82 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 13 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 92,868.00 92,868.00 94,561.58 1,693.58 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 92,868.00 92,868.00 94,561.58 1,693.58 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 28,342.00 28,342.00 25,863.07 2,478.93 Supplies/services/materials, etc 65,570.00 65,570.00 59,184.28 6,385.72 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 City of Whitefish - Annual Financial Report Page 83 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 14 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2400 LIGHT DISTRICT #1 (Residential) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 93,912.00 93,912.00 85,047.35 8,864.65 Excess of revenues over (under) expenditures ( 1,044.00) ( 1,044.00) 9,514.23 10,558.23 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 Transfers out 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 ( 1,044.00) ( 1,044.00) 9,514.23 10,558.23 Fund balance - July 1, 2017 - -As previously reported 35,170.39 35,170.39 35,170.39 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 35,170.39 35,170.39 35,170.39 0.00 Fund balance - June 30, 2018 34,126.39 34,126.39 44,684.62 10,558.23 City of Whitefish - Annual Financial Report Page 84 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 15 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 89,538.00 89,538.00 91,764.75 2,226.75 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 89,538.00 89,538.00 91,764.75 2,226.75 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 28,342.00 28,342.00 25,863.16 2,478.84 Supplies/services/materials, etc 58,970.00 78,970.00 81,144.58 ( 2,174.58) 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 City of Whitefish - Annual Financial Report Page 85 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 16 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2410 LIGHT DISTRICT #4 (Commercial) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 87,312.00 107,312.00 107,007.74 304.26 Excess of revenues over (under) expenditures 2,226.00 ( 17,774.00) ( 15,242.99) 2,531.01 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 Transfers out 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 2,226.00 ( 17,774.00) ( 15,242.99) 2,531.01 Fund balance - July 1, 2017 - -As previously reported 13,711.58 13,711.58 13,711.58 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 13,711.58 13,711.58 13,711.58 0.00 Fund balance - June 30, 2018 15,937.58 ( 4,062.42) ( 1,531.41) 2,531.01 City of Whitefish - Annual Financial Report Page 86 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 17 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 67,600.00 67,600.00 67,835.62 235.62 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 7,000.00 7,000.00 11,471.22 4,471.22 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 74,600.00 74,600.00 79,306.84 4,706.84 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 68,267.00 68,267.00 40,493.46 27,773.54 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 City of Whitefish - Annual Financial Report Page 87 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 18 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2525 STORM WATER Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 72,500.00 72,500.00 3,289.77 69,210.23 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 140,767.00 140,767.00 43,783.23 96,983.77 Excess of revenues over (under) expenditures ( 66,167.00) ( 66,167.00) 35,523.61 101,690.61 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 Transfers out 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 ( 66,167.00) ( 66,167.00) 35,523.61 101,690.61 Fund balance - July 1, 2017 - -As previously reported 629,757.03 629,757.03 629,757.03 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 629,757.03 629,757.03 629,757.03 0.00 Fund balance - June 30, 2018 563,590.03 563,590.03 665,280.64 101,690.61 City of Whitefish - Annual Financial Report Page 88 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 19 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 7,477.47 ( 7,522.53) 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 7,477.47 ( 7,522.53) EXPENDITURES Current: General Government Supplies/services/materials, etc 15,000.00 15,000.00 7,477.47 7,522.53 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 City of Whitefish - Annual Financial Report Page 89 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 20 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2917 CRIME VICTIMS ASSISTANCE Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 15,000.00 15,000.00 7,477.47 7,522.53 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 Transfers out 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, 2017 - -As previously reported 743.00 743.00 743.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 743.00 743.00 743.00 0.00 Fund balance - June 30, 2018 743.00 743.00 743.00 0.00 City of Whitefish - Annual Financial Report Page 90 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 21 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 City of Whitefish - Annual Financial Report Page 91 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 22 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2945 CDBG HOUSING AND COMMUNITY DEVELOPMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 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 Transfers out 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, 2017 - -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, 2017 - As restated 0.00 0.00 0.00 0.00 Fund balance - June 30, 2018 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 92 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 23 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 7,500.00 360.00 ( 7,140.00) Total revenues 27,500.00 27,500.00 360.00 ( 27,140.00) 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 30,869.00 30,869.00 3,300.00 27,569.00 City of Whitefish - Annual Financial Report Page 93 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 24 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2987 HOUSING REHABILITATION GRANT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 30,869.00 30,869.00 3,300.00 27,569.00 Excess of revenues over (under) expenditures ( 3,369.00) ( 3,369.00) ( 2,940.00) 429.00 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 Transfers out 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 ( 3,369.00) ( 3,369.00) ( 2,940.00) 429.00 Fund balance - July 1, 2017 - -As previously reported 3,369.27 3,369.27 3,369.27 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 3,369.27 3,369.27 3,369.27 0.00 Fund balance - June 30, 2018 0.27 0.27 429.27 429.00 City of Whitefish - Annual Financial Report Page 94 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 25 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 100,000.00 100,000.00 0.00 ( 100,000.00) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 100,000.00 100,000.00 0.00 ( 100,000.00) 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 101,000.00 101,000.00 0.00 101,000.00 City of Whitefish - Annual Financial Report Page 95 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 26 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2989 AFFORDABLE HOUSING (cash in lieu) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 101,000.00 101,000.00 0.00 101,000.00 Excess of revenues over (under) expenditures ( 1,000.00) ( 1,000.00) 0.00 1,000.00 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 Transfers out 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 ( 1,000.00) ( 1,000.00) 0.00 1,000.00 Fund balance - July 1, 2017 - -As previously reported 1,000.00 1,000.00 1,000.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 1,000.00 1,000.00 1,000.00 0.00 Fund balance - June 30, 2018 0.00 0.00 1,000.00 1,000.00 City of Whitefish - Annual Financial Report Page 96 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 27 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 200.00 200.00 329.17 129.17 Total revenues 200.00 200.00 329.17 129.17 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 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 City of Whitefish - Annual Financial Report Page 97 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 28 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2990 PARKLAND AQUISITION & DEVELOPMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 40,000.00 46,500.00 46,201.20 298.80 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 40,000.00 46,500.00 46,201.20 298.80 Excess of revenues over (under) expenditures ( 39,800.00) ( 46,300.00) ( 45,872.03) 427.97 OTHER FINANCING SOURCES (USES) Other financing sources 1,500.00 1,500.00 18,258.65 16,758.65 Transfers in 0.00 0.00 0.00 0.00 Transfers out 0.00 0.00 0.00 0.00 Total other financing sources (uses) 1,500.00 1,500.00 18,258.65 16,758.65 Net change in fund balance ( 38,300.00) ( 44,800.00) ( 27,613.38) 17,186.62 Fund balance - July 1, 2017 - -As previously reported 49,895.80 49,895.80 49,895.80 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 49,895.80 49,895.80 49,895.80 0.00 Fund balance - June 30, 2018 11,595.80 5,095.80 22,282.42 17,186.62 City of Whitefish - Annual Financial Report Page 98 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 29 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 750.00 750.00 1,669.59 919.59 Total revenues 750.00 750.00 1,669.59 919.59 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 City of Whitefish - Annual Financial Report Page 99 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 30 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2992 SIDEWALK DISTRICTS PROJECT (cash in lieu) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 155,487.00 155,487.00 0.00 155,487.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 155,487.00 155,487.00 0.00 155,487.00 Excess of revenues over (under) expenditures ( 154,737.00) ( 154,737.00) 1,669.59 156,406.59 OTHER FINANCING SOURCES (USES) Other financing sources 0.00 0.00 31,477.50 31,477.50 Transfers in 0.00 0.00 0.00 0.00 Transfers out 0.00 0.00 0.00 0.00 Total other financing sources (uses) 0.00 0.00 31,477.50 31,477.50 Net change in fund balance ( 154,737.00) ( 154,737.00) 33,147.09 187,884.09 Fund balance - July 1, 2017 - -As previously reported 154,762.19 154,762.19 154,762.19 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 154,762.19 154,762.19 154,762.19 0.00 Fund balance - June 30, 2018 25.19 25.19 187,909.28 187,884.09 City of Whitefish - Annual Financial Report Page 100 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 31 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 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 Franchise fees 0.00 0.00 0.00 0.00 Building permits 0.00 0.00 0.00 0.00 Other licenses and 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 20,580.00 20,580.00 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 0.00 0.00 20,580.00 20,580.00 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 10,500.00 10,500.00 0.00 10,500.00 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 101 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 32 of 32 49. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2018 2993 Cash In-Lieu of Subdivision Street Tree Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 0.00 0.00 0.00 0.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 10,500.00 10,500.00 0.00 10,500.00 Excess of revenues over (under) expenditures ( 10,500.00) ( 10,500.00) 20,580.00 31,080.00 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 Transfers out 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 ( 10,500.00) ( 10,500.00) 20,580.00 31,080.00 Fund balance - July 1, 2017 - -As previously reported 10,500.00 10,500.00 10,500.00 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated 10,500.00 10,500.00 10,500.00 0.00 Fund balance - June 30, 2018 0.00 0.00 31,080.00 31,080.00 City of Whitefish - Annual Financial Report Page 102 of 130 ---PAGE BREAK--- 12/13/18 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, 2018 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 169,169.00 169,169.00 169,256.35 87.35 Special assessments 1,593,956.00 1,593,956.00 1,628,563.92 34,607.92 Licenses and permits Alcoholic beverage licenses 700.00 700.00 1,120.00 420.00 Franchise fees 404,000.00 404,000.00 440,390.68 36,390.68 Building permits 440,000.00 440,000.00 479,093.11 39,093.11 Other licenses and permits 3,500.00 3,500.00 3,746.00 246.00 Intergovernmental revenue (See supplemental section for detail) Federal grants 400,000.00 400,000.00 0.00 ( 400,000.00) State grants 15,671.00 15,671.00 29,168.98 13,497.98 State shared revenues 151,121.00 151,121.00 151,121.36 0.36 Charges for services General government 185,000.00 185,000.00 282,218.63 97,218.63 Public safety 60,000.00 60,000.00 91,481.65 31,481.65 Public works 8,400.00 8,400.00 33,361.22 24,961.22 Culture and recreation 309,099.00 309,099.00 238,604.71 ( 70,494.29) Fines and forfeitures Justice court 15,000.00 15,000.00 7,477.47 ( 7,522.53) Miscellaneous 301,480.00 301,480.00 168,115.16 ( 133,364.84) Investment and royalty earnings 9,950.00 9,950.00 4,989.35 ( 4,960.65) Total revenues 4,067,046.00 4,067,046.00 3,728,708.59 ( 338,337.41) EXPENDITURES Current: General Government Supplies/services/materials, etc 15,000.00 15,000.00 7,477.47 7,522.53 Public Safety Personal services 356,639.00 356,639.00 328,102.19 28,536.81 Supplies/services/materials, etc 70,780.00 70,780.00 67,039.26 3,740.74 Public Works Personal services 747,522.00 747,522.00 814,333.37 ( 66,811.37) Supplies/services/materials, etc 712,125.00 732,125.00 519,689.77 212,435.23 Public Health Social and Economic Services Culture and Recreation Personal services 1,077,672.00 1,077,672.00 1,036,401.92 41,270.08 Supplies/services/materials, etc 661,756.00 661,756.00 591,203.92 70,552.08 Housing and Community Development Supplies/services/materials, etc 531,869.00 531,869.00 3,300.00 528,569.00 City of Whitefish - Annual Financial Report Page 103 of 130 ---PAGE BREAK--- 12/13/18 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, 2018 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 1,546,218.00 1,552,718.00 1,002,793.54 549,924.46 Debt Service Miscellaneous 54,187.00 54,187.00 50,791.73 3,395.27 Total expenditures 5,773,768.00 5,800,268.00 4,421,133.17 1,379,134.83 Excess of revenues over (under) expenditures ( 1,706,722.00) ( 1,733,222.00) ( 692,424.58) 1,040,797.42 OTHER FINANCING SOURCES (USES) Other financing sources 1,500.00 1,500.00 49,736.15 48,236.15 Transfers in 775,869.00 775,869.00 775,869.00 0.00 Transfers out ( 74,159.00) ( 74,159.00) ( 74,159.00) 0.00 Total other financing sources (uses) 703,210.00 703,210.00 751,446.15 48,236.15 Net change in fund balance ( 1,003,512.00) ( 1,030,012.00) 59,021.57 1,089,033.57 Fund balance - July 1, 2017 - -As previously reported 2,544,509.60 2,544,509.60 2,544,509.60 0.00 Prior period adjustments 172,816.88 172,816.88 172,816.88 0.00 Fund balance - July 1, 2017 - As restated 2,717,326.48 2,717,326.48 2,717,326.48 0.00 Fund balance - June 30, 2018 1,713,814.48 1,687,314.48 2,776,348.05 1,089,033.57 City of Whitefish - Annual Financial Report Page 104 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 1 51. COMBINING BALANCE SHEET - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2018 3400 3545 Total Nonmajor SID REVOLVING (SID SID 166 BOND DEBT Debt Service Funds ASSETS Cash and cash equivalents 169,667.34 31,208.01 200,875.35 Taxes receivable: Special assessments 0.00 636,391.11 636,391.11 Advances to other funds 58,698.47 0.00 58,698.47 TOTAL ASSETS 228,365.81 667,599.12 895,964.93 Deferred Outflows of Resources LIABILITIES Advances from other funds 0.00 58,698.47 58,698.47 TOTAL LIABILITIES 0.00 58,698.47 58,698.47 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 636,391.11 636,391.11 Total Deferred Inflows of Resources 0.00 636,391.11 636,391.11 FUND BALANCES Unassigned (negative balance only) 228,365.81 ( 27,490.46) 200,875.35 Total Fund Balances 228,365.81 ( 27,490.46) 200,875.35 Total Liabilities, Deferred 228,365.81 667,599.12 895,964.93 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 105 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 3 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2018 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 1,588.25 838.25 Total revenues 750.00 750.00 1,588.25 838.25 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 1,588.25 838.25 OTHER FINANCING SOURCES (USES) Net change in fund balance 750.00 750.00 1,588.25 838.25 Fund balance - July 1, 2017 - -As previously reported 226,777.56 226,777.56 226,777.56 0.00 Fund balance - July 1, 2017 - As restated 226,777.56 226,777.56 226,777.56 0.00 Fund balance - June 30, 2018 227,527.56 227,527.56 228,365.81 838.25 City of Whitefish - Annual Financial Report Page 106 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 2 of 3 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2018 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 107,500.00 107,500.00 107,969.93 469.93 Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 330.00 330.00 559.55 229.55 Total revenues 107,830.00 107,830.00 108,529.48 699.48 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 70,000.00 70,000.00 70,000.00 0.00 Interest 28,098.00 28,098.00 27,382.50 715.50 Costs and fees 350.00 350.00 350.00 0.00 Total expenditures 98,448.00 98,448.00 97,732.50 715.50 Excess of revenues over (under) expenditures 9,382.00 9,382.00 10,796.98 1,414.98 OTHER FINANCING SOURCES (USES) Net change in fund balance 9,382.00 9,382.00 10,796.98 1,414.98 Fund balance - July 1, 2017 - -As previously reported ( 38,287.44) ( 38,287.44) ( 38,287.44) 0.00 Fund balance - July 1, 2017 - As restated ( 38,287.44) ( 38,287.44) ( 38,287.44) 0.00 Fund balance - June 30, 2018 ( 28,905.44) ( 28,905.44) ( 27,490.46) 1,414.98 City of Whitefish - Annual Financial Report Page 107 of 130 ---PAGE BREAK--- 12/13/18 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, 2018 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Special assessments 107,500.00 107,500.00 107,969.93 469.93 Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 1,080.00 1,080.00 2,147.80 1,067.80 Total revenues 108,580.00 108,580.00 110,117.73 1,537.73 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 70,000.00 70,000.00 70,000.00 0.00 Interest 28,098.00 28,098.00 27,382.50 715.50 Costs and fees 350.00 350.00 350.00 0.00 Total expenditures 98,448.00 98,448.00 97,732.50 715.50 Excess of revenues over (under) expenditures 10,132.00 10,132.00 12,385.23 2,253.23 OTHER FINANCING SOURCES (USES) Net change in fund balance 10,132.00 10,132.00 12,385.23 2,253.23 Fund balance - July 1, 2017 - -As previously reported 188,490.12 188,490.12 188,490.12 0.00 Fund balance - July 1, 2017 - As restated 188,490.12 188,490.12 188,490.12 0.00 Fund balance - June 30, 2018 198,622.12 198,622.12 200,875.35 2,253.23 City of Whitefish - Annual Financial Report Page 108 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 1 55. COMBINING BALANCE SHEET - NONMAJOR CAPITAL PROJECT FUNDS For the year ending June 30, 2018 4005 4540 Total Nonmajor CITY HALL PROJECT WF Trail Construct Cap. Proj. Funds ASSETS Taxes receivable: Other receivables 0.00 8,697.37 8,697.37 TOTAL ASSETS 0.00 8,697.37 8,697.37 Deferred Outflows of Resources LIABILITIES Accounts payable 0.00 8,697.17 8,697.17 Due to other funds 0.00 0.20 0.20 TOTAL LIABILITIES 0.00 8,697.37 8,697.37 Deferred Inflows of Resources FUND BALANCES Total Liabilities, Deferred 0.00 8,697.37 8,697.37 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 109 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 4 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2018 4005 CITY HALL PROJECT 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 0.00 0.00 0.00 0.00 Charges for services Culture and recreation charges 0.00 0.00 0.00 0.00 Fines and forfeitures Miscellaneous Other miscellaneous revenue 15,634.00 15,634.00 59,938.64 44,304.64 Investment and royalty earnings 0.00 0.00 2,154.82 2,154.82 Total revenues 15,634.00 15,634.00 62,093.46 46,459.46 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 942,870.00 942,870.00 942,870.00 0.00 Debt Service Total expenditures 942,870.00 942,870.00 942,870.00 0.00 Excess of revenues over (under) expenditures ( 927,236.00) ( 927,236.00) ( 880,776.54) 46,459.46 OTHER FINANCING SOURCES (USES) Net change in fund balance ( 927,236.00) ( 927,236.00) ( 880,776.54) 46,459.46 Fund balance - July 1, 2017 - -As previously reported 929,796.71 929,796.71 929,796.71 0.00 Prior period adjustments ( 49,020.17) ( 49,020.17) ( 49,020.17) 0.00 Fund balance - July 1, 2017 - As restated 880,776.54 880,776.54 880,776.54 0.00 City of Whitefish - Annual Financial Report Page 110 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 2 of 4 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2018 4005 CITY HALL PROJECT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Fund balance - June 30, 2018 ( 46,459.46) ( 46,459.46) 0.00 46,459.46 City of Whitefish - Annual Financial Report Page 111 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 3 of 4 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2018 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 264,315.00 264,315.00 104,900.24 ( 159,414.76) Charges for services Culture and recreation charges 11,185.00 106,185.00 265,409.65 159,224.65 Fines and forfeitures Miscellaneous Other miscellaneous revenue 0.00 0.00 0.00 0.00 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 275,500.00 370,500.00 370,309.89 ( 190.11) 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 275,500.00 370,500.00 369,609.89 890.11 Debt Service Total expenditures 275,500.00 370,500.00 369,609.89 890.11 Excess of revenues over (under) expenditures 0.00 0.00 700.00 700.00 OTHER FINANCING SOURCES (USES) Net change in fund balance 0.00 0.00 700.00 700.00 Fund balance - July 1, 2017 - -As previously reported ( 700.00) ( 700.00) ( 700.00) 0.00 Prior period adjustments 0.00 0.00 0.00 0.00 Fund balance - July 1, 2017 - As restated ( 700.00) ( 700.00) ( 700.00) 0.00 City of Whitefish - Annual Financial Report Page 112 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 4 of 4 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2018 4540 WF Trail Construction Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Fund balance - June 30, 2018 ( 700.00) ( 700.00) 0.00 700.00 City of Whitefish - Annual Financial Report Page 113 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 2 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - TOTAL NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2018 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 264,315.00 264,315.00 104,900.24 ( 159,414.76) Charges for services Culture and recreation charges 11,185.00 106,185.00 265,409.65 159,224.65 Fines and forfeitures Miscellaneous Other miscellaneous revenue 15,634.00 15,634.00 59,938.64 44,304.64 Investment and royalty earnings 0.00 0.00 2,154.82 2,154.82 Total revenues 291,134.00 386,134.00 432,403.35 46,269.35 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 1,218,370.00 1,313,370.00 1,312,479.89 890.11 Debt Service Total expenditures 1,218,370.00 1,313,370.00 1,312,479.89 890.11 Excess of revenues over (under) expenditures ( 927,236.00) ( 927,236.00) ( 880,076.54) 47,159.46 OTHER FINANCING SOURCES (USES) Net change in fund balance ( 927,236.00) ( 927,236.00) ( 880,076.54) 47,159.46 Fund balance - July 1, 2017 - -As previously reported 929,096.71 929,096.71 929,096.71 0.00 Prior period adjustments ( 49,020.17) ( 49,020.17) ( 49,020.17) 0.00 Fund balance - July 1, 2017 - As restated 880,076.54 880,076.54 880,076.54 0.00 City of Whitefish - Annual Financial Report Page 114 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 2 of 2 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - TOTAL NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2018 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Fund balance - June 30, 2018 ( 47,159.46) ( 47,159.46) 0.00 47,159.46 City of Whitefish - Annual Financial Report Page 115 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 2 63. COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS For the year ending June 30, 2018 5410 Total Nonmajor SOLID WASTE Enterprise ASSETS Current Assets Cash and cash equivalents 119,117.19 119,117.19 Total Current Assets 119,117.19 119,117.19 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 119,117.19 119,117.19 Deferred Outflows of Resources Deferred Outflows of Resources 6,714.26 6,714.26 Total Deferred Outflows of Resources 6,714.26 6,714.26 LIABILITIES Current Liabilities Other accrued payables 462.02 462.02 Total Current Liabilites 462.02 462.02 Noncurrent Liabilities Compensated absences 859.59 859.59 Other noncurrent liabilities 67,350.02 67,350.02 Total Noncurrent Liabilities 68,209.61 68,209.61 Total Liabilities 68,671.63 68,671.63 Deferred Inflows of Resources Deferred Inflows of Resources other 5,852.35 5,852.35 Total Deferred Inflows of Resources 5,852.35 5,852.35 City of Whitefish - Annual Financial Report Page 116 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 2 of 2 63. COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS For the year ending June 30, 2018 5410 Total Nonmajor SOLID WASTE Enterprise NET POSITION Restricted for: Unrestricted 51,307.47 51,307.47 Total Net Position 51,307.47 51,307.47 City of Whitefish - Annual Financial Report Page 117 of 130 ---PAGE BREAK--- 12/13/18 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, 2018 5410 Total Nonmajor SOLID WASTE Enterprise OPERATING REVENUES OPERATING EXPENSES Personal services 5,294.72 5,294.72 Supplies 495.00 495.00 Purchased services 930.00 930.00 Fixed charges 171.66 171.66 Total Operating Expenses 6,891.38 6,891.38 Operating Income (Loss) ( 6,891.38) ( 6,891.38) NONOPERATING REVENUES (EXPENSES) Interest and royalty revenue 1,133.96 1,133.96 Other nonoperating expense ( 244.60) ( 244.60) Total Nonoperating Rev(Exp) 889.36 889.36 Income (Loss) before contributions/transfers ( 6,002.02) ( 6,002.02) Change in net position ( 6,002.02) ( 6,002.02) Total net position - July 1, 2017 57,309.49 57,309.49 Total net position - July 1, 2017 as restated 57,309.49 57,309.49 Total net position - June 30, 2018 51,307.47 51,307.47 City of Whitefish - Annual Financial Report Page 118 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 1 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 1000 GENERAL 335110 Live Card Game Table Permit RV 1170 1 Live card table permits 10/17 1,250.00 Account Total: 1,250.00 1,250.00 CR 335120 Gambling Machine Permits RV 1169 1 Gamibling Permits 1ST QTR FY18 10/17 16,000.00 RV 1191 1 Gamibling Permits 2nd QTR FY18 1/18 525.00 RV 1209 1 Gamibling Permits 3rd FY18 4/18 1,925.00 Account Total: 18,450.00 18,450.00 CR 335230 State Entitlement Share RV 1162 1 State Entitlement 9/17 210,520.26 RV 1182 1 State Entitlement 12/17 210,520.26 RV 1202 1 State Entitlement 3/18 210,520.26 RV 1221 1 State Entitlement 6/18 210,520.26 Account Total: 842,081.04 842,081.04 CR Fund Total: 0.00 861,781.04 City of Whitefish - Annual Financial Report Page 119 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 2 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2110 STREET AND ALLEY 335040 Gasoline Tax Apportionment RV 1153 1 fuel allocation 7/17 12,593.41 RV 1157 1 fuel allocation 8/17 12,593.45 RV 1161 1 fuel allocation 9/17 12,593.45 RV 1168 1 fuel allocation 10/17 12,593.45 RV 1175 1 fuel allocation 11/17 12,593.45 RV 1183 1 fuel allocation 12/17 12,593.45 RV 1188 1 fuel allocation 1/18 12,593.45 RV 1195 1 fuel allocation 2/18 12,593.45 RV 1201 1 fuel allocation 3/18 12,593.45 RV 1208 1 fuel allocation 4/18 12,593.45 RV 1214 1 fuel allocation 5/18 12,593.45 RV 1220 1 fuel allocation 6/18 12,593.45 Account Total: 151,121.36 151,121.36 CR Fund Total: 0.00 151,121.36 City of Whitefish - Annual Financial Report Page 120 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 3 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2210 PARKS, RECREATION AND COMMUNITY SERVICES 334000 State Grants RV 1158 1 GrouseMtnRestArea Reim 8/17 4,169.59 RV 1184 1 Urban Forestry Grant 12/17 5,749.39 RV 1189 1 DNRC - State Park AIS RESPONSE 1/18 15,000.00 RV 1196 1 Arbor Day 2018 Grant 2/18 750.00 Account Total: 25,668.98 25,668.98 CR 334002 FWP Fishing Lease - WF Trail CR 127607 1 Batch 16083 4/18 3,500.00 Account Total: 3,500.00 3,500.00 CR Fund Total: 0.00 29,168.98 City of Whitefish - Annual Financial Report Page 121 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 4 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2300 LAW ENFORCEMENT 334091 Overtime Reimbursement from DOT RV 1152 1 STEP 7/17 6,216.00 JV 4125 4 STEP Due from Other Gov 8/17 6,216.00 RV 1178 1 STEP 11/17 4,118.94 CR 127549 1 Batch 16081 3/18 214.00 RV 1204 1 STEP 3/18 6,958.60 JV 4355 4 STEP Due from Other Gov 6/18 7,061.22 Account Total: 13,277.22 17,507.54 4,230.32 CR 337010 HIDA - Overtime Reimbursmt from NW Drug Task Force JV 4110 7 HITDA 9/17 275.42 JV 4166 2 HIDTA - correct acct 11/17 665.19 Account Total: 940.61 940.61 CR 337014 Drug Task Force Grant CR 121659 1 Batch 15898 7/17 3,098.16 CR 122359 1 Batch 15918 8/17 3,627.29 JV 4125 10 NW Drug 8/17 3,098.16 CR 123187 1 Batch 15943 9/17 12,128.72 CR 123298 1 Batch 15946 9/17 3,477.86 CR 123755 1 Batch 15959 9/17 4,244.71 JV 4110 8 HITDA 9/17 275.42 CR 124303 1 Batch 15975 10/17 6,479.15 CR 124593 1 Batch 15988 11/17 3,953.51 CR 124937 1 Batch 15997 11/17 3,301.07 JV 4166 1 HIDTA - correct acct 11/17 665.19 CR 125083 1 Batch 16002 12/17 3,330.53 CR 125472 1 Batch 16013 12/17 766.82 CR 125795 1 Batch 16023 1/18 6,469.05 CR 126233 1 Batch 16036 1/18 3,360.14 CR 126388 1 Batch 16042 1/18 3,284.31 CR 126654 1 Batch 16051 2/18 3,330.52 CR 126948 1 Batch 16060 2/18 3,256.05 CR 127246 1 Batch 16071 3/18 4,579.70 CR 127523 1 Batch 16080 3/18 3,288.32 CR 127991 1 Batch 16095 4/18 2,970.70 CR 128152 1 Batch 16099 4/18 3,614.43 CR 128475 1 Batch 16110 5/18 3,360.15 CR 128828 1 Batch 16119 5/18 3,727.20 CR 129690 1 Batch 16144 6/18 6,731.05 JV 4355 10 NW Drug 6/18 7,918.80 Account Total: 11,957.57 92,379.44 80,421.87 CR City of Whitefish - Annual Financial Report Page 122 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 5 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2300 LAW ENFORCEMENT 337015 COPS Hiring Grant RV 1154 1 COPS Grant - 4th QTR FY17 7/17 6,986.45 JV 4125 2 COPS Due from Other Gov 8/17 6,986.45 Account Total: 6,986.45 6,986.45 337018 Dept of Justice Grant CR 121806 1 Batch 15903 7/17 8,528.94 JV 4125 8 STONEGARDEN 8/17 8,528.94 CR 124720 1 Batch 15991 11/17 4,904.07 CR 127606 1 Batch 16083 4/18 8,390.30 CR 129267 1 Batch 16132 6/18 6,079.32 Account Total: 8,528.94 27,902.63 19,373.69 CR 337019 School District 44 Reimbursement SRO CR 122652 1 Batch 15927 8/17 8,734.69 JV 4125 6 SD SRO Portion Due From 8/17 8,734.69 CR 128284 1 Batch 16103 4/18 27,044.24 JV 4355 6 SD SRO Portion Due From 6/18 8,927.67 Account Total: 17,662.36 35,778.93 18,116.57 CR Fund Total: 58,412.54 181,495.60 City of Whitefish - Annual Financial Report Page 123 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 6 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2310 TAX INCREMENT 331008 CDBG Community Development Grant RV 1223 1 CDBG Draw - Final 6/18 36,366.75 Account Total: 36,366.75 36,366.75 CR 335230 State Entitlement Share RV 1176 1 TIF Entitlement 11/17 124,432.50 RV 1215 1 TIF Entitlement 5/18 124,432.50 Account Total: 248,865.00 248,865.00 CR Fund Total: 0.00 285,231.75 City of Whitefish - Annual Financial Report Page 124 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 7 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 2340 FIRE AND AMBULANCE 338050 Portion of Countywide Ambulance Assessment CR 121688 1 Batch 15899 7/17 20,077.00 JV 4129 1 County-wide EMS 7/17 20,077.00 CR 126495 1 Batch 16045 2/18 23,306.00 CR 129642 1 Batch 16142 6/18 24,739.00 Account Total: 20,077.00 68,122.00 48,045.00 CR Fund Total: 20,077.00 68,122.00 City of Whitefish - Annual Financial Report Page 125 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 8 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 4540 WF Trail Construction 334000 State Grants RV 1222 1 LWCF Grant - FWP 6/18 104,900.24 Account Total: 104,900.24 104,900.24 CR Fund Total: 0.00 104,900.24 City of Whitefish - Annual Financial Report Page 126 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 9 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 5210 WATER 336020 On Behalf Contribution to Retirement JV 4378 5 GASB 68 13/18 8,703.00 Account Total: 8,703.00 8,703.00 CR Fund Total: 0.00 8,703.00 City of Whitefish - Annual Financial Report Page 127 of 130 ---PAGE BREAK--- 12/13/18 CITY OF WHITEFISH Page: 10 of 10 15:34:30 Detail Ledger Query with Account Balances Report ID: L091 For the Accounting Periods: 7/17 - 13/18 Funds 1000-5999, Accounts 330000-339999 Fund/Account/ Acct. Doc/Line # Description Vendor/Receipt From Period Debit Credit Ending Balance 5310 WASTEWATER 336020 On Behalf Contribution to Retirement JV 4379 5 GASB 68 13/18 8,077.00 Account Total: 8,077.00 8,077.00 CR Fund Total: 0.00 8,077.00 Grand Total: 78,489.54 1698,600.97 City of Whitefish - Annual Financial Report Page 128 of 130 ---PAGE BREAK--- City of Whitefish FY2018 Bank Reconciliation Jun‐18 Bank Balance Glacier DDA 9,737,961.46 $ First Int ‐ MMA 390,194.08 $ US Bank ‐ amb 28,713.80 $ Investments 2,005,622.97 $ STIP 10,314,952.38 Petty Cash 1,000.00 $ First Int ‐ CD 1,015,004.20 $ Glacier ‐ CD 1,174,243.27 $ 24,667,692.16 $ Payroll check clearing DIT 63,030.18 $ 63,030.18 $ Payroll Adjust ($5,316.90) OS Checks Payroll (62,172.06) $ Claims (667,300.58) $ (729,472.64) $ Adjusted per bank 23,995,932.80 $ Balance per Books (cash report) 24,637,801.21 $ less 7910 (62,172.06) $ less 7930 (667,300.58) $ Sweep Acct 87,680.51 $ PERS Payroll Adj. (76.28) $ Adjusted Balance per books 23,995,932.80 $ Difference ‐ $ Adjusted Difference ‐ $ City of Whitefish - Annual Financial Report Page 129 of 130 ---PAGE BREAK--- GENERAL INFORMATION 1. Class of county/city Second 2. Date of incorporation 1905 3. County seat Flathead 4. Form of government City Manger 5. Population (most recent estimate) 6357 (2010 Census), 7073 (2015 estimate) 6. Land area 11.91 Square Miles 7. Miles of roads/streets/alleys 67 Miles 8. Taxable valuation 34,977,717 9. Road taxable valuation (county) N/A 10. Number of water consumers 3,825 11. Average daily water consumption 6.536 12. Miles of water main 64 13. Miles of sanitary and storm sewers 58 miles of sanitary and 11 miles of storm sewers 14. Number of building permits issued 242 15. Number of full-time employees 106.28 PROPERTY TAX MILL LEVIES - Fund/activity Mills 1000 General 108.55 Resort Tax Rebate -47.443 Permissive Medical Levy 26.500 2220 Library 6.820 2340 Fire & Ambulance Voted Levy 24.000 7120 Fire Pension 2.000 TOTAL 120.427 City of Whitefish - Annual Financial Report Page 130 of 130