Document Whitefish_doc_d1821db1c3

MONTANA DEPARTMENT OF ADMINISTRATION State Financial Services Division Local Government Services Bureau Mitchell Building, Room 270, PO Box 200547, Helena, Montana 59620-0547 021503 MONTANA CITY OF WHITEFISH ANNUAL FINANCIAL REPORT FISCAL YEAR ENDING JUNE 30, 2017 REVISED AUGUST 2017/VERSION 17.1 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, 2017 Page No. INTRODUCTORY SECTION Letter of Transmittal 2 List of Elected and Appointed Officials – Signature 3 FINANCIAL SECTION Management's Discussion and Analysis 5-13 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position 15 Statement of Activities 16 Fund Financial Statements: Balance Sheet - Governmental Funds 17 Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position…………………. 18 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 19 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 20 Statement of Net Position - Proprietary Funds 21 Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Funds 22 Statement of Cash Flows - Proprietary Funds 23 Statement of Fiduciary Net Position -Fiduciary Funds 24 Statement of Changes in Fiduciary Net Position - Fiduciary Funds 25 Notes to the Financial Statements 26-63 Required Supplementary Information: Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund and Major Special Revenue 65-68 Other Post Employment Benefits Plan – Schedule of Funding 69 Schedule of Proportionate Share of the Net Pension Liability 70-71 Other Supplementary Information: Combining and Individual Fund Statements and Schedules: Combining Balance Sheet - Nonmajor Special Revenue Funds 73-77 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Special Revenue Funds 78-111 Combining Balance Sheet - Nonmajor Debt Service Funds 112 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Debt Service Funds 113-120 Combining Balance Sheet - Nonmajor Capital Projects Funds 121 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - Nonmajor Capital Projects Funds 122-125 Combining Statement of Net Position - Nonmajor Enterprise Funds 126-127 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position – Nonmajor Enterprise Funds 128 Schedule of Federal/State Grants, Entitlements and Shared Revenues 129-132 Cash Reconciliation 133 GENERAL INFORMATION SECTION General Information 135 ---PAGE BREAK--- INTRODUCTORY SECTION City of Whitefish - Annual Financial Report Page 1 of 135 ---PAGE BREAK--- December 27, 2017 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, 2017. If you have any questions or concerns, please call me at [PHONE REDACTED]. Sincerely, Dana Smith Finance Director City of Whitefish - Annual Financial Report Page 2 of 135 ---PAGE BREAK--- OFFICE NAME OF CITY/TOWN OFFICIALS/OFFICERS DATE TERM EXPIRES Mayor John M. Muhlfeld December 31, 2019 Councilor Richard Hildner December 31, 2019 Councilor Katie Williams December 31, 2019 Councilor Frank Sweeney December 31, 2019 Councilor Pam Barberis December 31, 2017 Councilor Andy Feury December 31, 2017 Councilor Jen Frandsen December 31, 2017 City Manager Adam Hammatt Attorney Angela Jacobs Clerk Michelle Howke Finance Director Dana Smith Chief of police William Dial Fire Chief Joseph P. Page Municipal Judge Bradely F. Johnson December 31, 2017 Respectfully submitted; City Clerk Date FISCAL YEAR ENDING JUNE 30, 2017 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 135 ---PAGE BREAK--- FINANCIAL SECTION City of Whitefish - Annual Financial Report Page 4 of 135 ---PAGE BREAK--- MANAGEMENT'S DISCUSSION AND ANALYSIS City of Whitefish - Annual Financial Report Page 5 of 135 ---PAGE BREAK--- CITY OF WHITEFISH MANAGEMENT’S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30, 2017 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, 2017. 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, 2017 by $92,117,691 as reported in the statement of net position. This figure represents an increase of $7,373,045 in net position from the prior year. ● The total fiscal year end governmental fund balance was $11,774,318 as reported in the balance sheet for governmental funds. This figure represents a decrease of $7,717,117 from the prior year. This decrease is primarily due to the completion City Hall and Parking Structure Project, which is now classified as a capital asset and therefore not included in the Governmental Fund Balance Sheet. ● The unassigned general fund balance at fiscal year-end was $934,445. This figure represents an increase of $91,870 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 6 of 135 ---PAGE BREAK--- 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. 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. City of Whitefish - Annual Financial Report Page 7 of 135 ---PAGE BREAK--- 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 Net position may serve over time as a useful indicator of a government’s financial position. The net position for both governmental and business-type activities for the fiscal year ending June 30, 2017 totaled $92,117,691, which is an increase of $7,373,045 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 FY17 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. The following table presents consolidated information on the City’s net position as of June 30, 2017 and June 30, 2016. City of Whitefish - Net Positon Governmental Business-type Activities Activities Change Change FY17 FY16 Inc (Dec) FY17 FY16 Inc (Dec) Current and other assets $ 17,607,127 $ 23,206,561 $ (5,599,434) $ 8,358,672 $ 8,358,672 $ 1,711,915 Capital assets 72,810,377 63,261,065 9,549,312 33,481,492 33,481,492 38,671 Total assets 90,417,504 86,467,626 $ 3,949,878 $ 41,840,164 $ 41,840,164 $ 1,750,586 Long-term debt outstanding $ 19,951,068 $ 21,795,089 $ (1,844,021) $ 14,713,368 $ 14,713,368 $ (1,101,529) Other liabilities 6,800,997 5,057,944 1,743,053 1,996,743 1,996,743 (470,084) Total liabilities $ 26,752,065 $ 26,853,033 $ (100,968) $ 16,710,111 $ 16,710,111 $(1,571,613) Invested in capital assets, net of debt $ 56,485,824 $ 44,649,797 $ 11,836,027 $ 19,706,929 $ 19,706,929 $ 980,671 Restricted 14,128,937 20,754,291 (6,625,354) 1,815,250 1,815,250 1,323,427 Unrestricted (deficit) (6,949,322) (5,789,495) (1,159,827) 3,607,874 3,607,874 1,018,101 Total net position $ 63,665,439 $ 59,614,593 $ 4,050,846 $ 25,130,053 $ 25,130,053 $ 3,322,199 City of Whitefish - Annual Financial Report Page 8 of 135 ---PAGE BREAK--- The City’s revenues totaled $26,488,086 for the fiscal year ending June 30, 2017. The total cost of all programs and services for that same period was $20,044,044. Therefore, the increase in net position was $7,136,870. The table below presents consolidated information on the City’s change in net position for the fiscal years ending June 30, 2017 and June 30, 2016. City of Whitefish – Changes in Net Position Governmental Business-type Activities Activities Change Change FY17 FY16 Inc (Dec) FY17 FY16 Inc (Dec) Revenues Program revenues (by major source): Charges for services $ 4,958,084 $ 5,252,101 $ (294,017) $ 6,543,504 $ 6,936,399 $ (392,895) Operating grants and contributions 321,897 352,178 (30,281) Capital grants and contributions 88,381 629,211 (540,830) 336,086 362,188 (26,102) General revenues (by major source): Property taxes for general purposes 8,741,206 7,913,952 827,254 Resort Taxes 3,657,607 3,243,642 413,965 Franchise/Utility Fees 394,775 375,465 19,310 Miscellaneous 303,395 198,128 105,267 Interest/investment earnings 84,396 45,894 38,502 51,386 20,955 30,431 State entitlement 1,086,468 1,056,462 30,006 Grants and entitlements no restricted - 5,350 (5,350) On behalf payments 594,955 465,953 129,002 18,774 31,944 (13,220) Total revenues $ 20,231,164 $ 19,538,336 $ 692,828 $ 6,949,750 $ 7,351,536 $ (401,786) Program expenses General government $ 1,824,396 $ 897,921 $ 926,475 Public safety 7,071,209 6,605,799 465,410 Public works 3,068,031 3,406,526 (338,495) Social and economic services - 1,500 (1,500) Culture and recreation 2,076,976 2,159,999 (83,023) Housing and community development 1,144,945 1,106,136 38,809 Debt service - interest 404,772 157,817 246,955 Miscellaneous 46,746 105,992 (59,246) Water $ 2,169,822 $ 2,260,912 $ (91,090) Sewer 2,220,825 2,513,946 (293,121) Solid Waste 16,322 674,720 (658,398) Total expenses $ 15,637,075 $ 14,441,690 $ 1,195,385 $ 4,406,969 $ 5,449,578 $(1,042,609) Increase (decrease) in net position $ 4,594,089 $ 5,131,534 $ (537,445) $ 2,542,781 $ 1,901,958 $ 640,823 Gain (loss) on sale of capital assets $ - $ (339,985) $ 339,985 $ - $ - $ - Indirect expense allocation $ 35,998 $ 34,889 $ 1,109 $ (35,998) $ (34,889) $ (1,109) Transfers - net $ (579,241) $ (745,840) $ 166,599 $ 579,241 $ 745,840 $ (166,599) Total Increase (decrease in net position) $ 4,050,846 $ 4,045,710 $ 5,136 $ 3,086,024 $ 2,612,909 $ 473,115 City of Whitefish - Annual Financial Report Page 9 of 135 ---PAGE BREAK--- Governmental activities Revenues for the fiscal year ending June 30, 2017 from governmental activities were $20,231,164 while expenses were $15,637,075. Thus, with the $579,421 in transfers-out and the indirect expense allocation, net position increased $4,050,846. Total governmental revenues increased from the prior year by $692,828. The increase in revenues was primarily due to increased property taxes and increased Resort Tax collections. Overall expenses increased by $1,195,385, 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 were all contributing factors. Business-type activities Revenue for the fiscal year ending June 30, 2017 from business-type activities was $6,949,750. Expenses were $4,406,969 and net transfers-in totaled $579,241, which resulted in an increase in net position of $3,086,024. Charges for services revenue decreased by $258,253 from the previous year due to the City no longer collecting fees for solid waste services. The contract was amended so that the vendor charges and collects all fees related to solid waste services in addition to their continued hauling of solid waste. Furthermore, the transfer-in decreased by $166,599 due to the timing of debt payments for the Haskill Basin Conservation Easement bond, which is first back by Resort Tax and further backed by water rates. Total expenses also experienced an expected decrease during FY17, which again is primarily attributed to contracting out all solid waste services, both billing and the hauling of refuse, and the timing of capital projects. Fund Balance – Governmental Funds Balance Sheet The City’s governmental funds reported a total fund balance of $11,774,318 as of June 30, 2017, which is a $7,717,117 decrease compared to the fund balance of governmental funds as of June 30, 2016. The significant decrease in fund balance is due to the completion of the City Hall and Parking Structure project and most of the expenditures for that project being incurred in fiscal year 2017. In the Governmental Funds Balance Sheet capital assets are not shown, but it would offset this significant decrease in fund balance. Of the fund balance at June 30, 2017, $934,445 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. 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 2017 two budget amendments were approved by the City Council for the Parkland Acquisition & Development Fund ($17,500) and the Solid Waste Fund ($1,500) due to additional approved expenditures that were not originally budgeted. 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. The Resort Tax Fund collected $312,330 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 $172,897 due to the timing of budgeted capital projects. The Tax Increment Fund collected less in property taxes, which is not deemed a significant concern and due to the budget City of Whitefish - Annual Financial Report Page 10 of 135 ---PAGE BREAK--- calculation. Furthermore, the Tax Increment Fund expended less within the Fund than budgeted due to project timing. However, more funds were transferred to the City Hall/Parking Structure Project Fund which were originally budgeted as a contingency for the project and not a transfer to other funds. The Fire & Ambulance Fund also experienced two significant budgetary variances. The first variance is in intergovernmental revenue, which shows a variance of $409,199. This was primarily the result of the budgeted on-behalf payments to the firefighters’ retirement system no longer being recorded due to the changes in accounting for pensions. The other variance was the purchase of a new ambulance through a loan. That purchase has moved to fiscal year 2018. CAPITAL ASSET AND DEBT ADMINISTRATION Capital Assets The City’s investment in capital assets for its governmental and business-type activities as of June 30, 2017 total $106,330,540 (net of related debt). 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 2017 totaled $2,993,552 and $1,178,942, respectively. Major capital assets events during fiscal year 2017: ▪ Completed construction on the new City Hall and Parking Structure (~$16M) ▪ Purchased vehicles for Building, Police, and Public Works ▪ Completed construction of Skye Park Bridge ▪ Continued making improvements to the Whitefish Trail ▪ Continued design and construction for multiple water and sewer projects ▪ Completed Memorial Park Basketball Court (~$60K) ▪ Completed improvements to flooring and lighting at Armory Building ($92K) Long-term Debt The City’s total long-term debt decreased by $1,470,540 compared to prior fiscal year. Below is a summary of the outstanding long-term debt of the City as of June 30, 2017 compared to June 30, 2016. City of Whitefish - Annual Financial Report Page 11 of 135 ---PAGE BREAK--- Outstanding Long-term Debt Purpose/Type June 30, 2017 June 30, 2016 Revenue Bonds: TIF 2015 Refunding (ESC) $ 5,147,000 $ 7,183,000 TIF 2016 (City Hall/Park Str.) 9,030,000 9,800,000 Water 9,138,000 10,286,000 Sewer 3,694,563 3,488,563 Special Assessment Bonds: SID 166 585,000 655,000 SID 167 779,000 - Intercap Loans: Ice Rink 15,892 47,862 Ambulance 62,315 93,070 Police Vehicle - 5,488 Fire Engine 367,647 414,716 Fire Pumper 152,197 181,739 Fire SCBA Units 185,503 230,453 OPEB: Governmental 2,563,814 2,140,510 Business-type 516,771 689,293 Compensated Absences: Governmental 1,062,701 1,043,311 Business-type 262,505 249,512 Net Pension Liability: Governmental 5,767,896 4,013,106 Business-type 1,012,339 1,292,060 TOTAL $40,343,143 $41,813,683 FISCAL YEAR 2018 BUDGET AND ECONOMIC FACTORS With the two-year reappraisal cycle resulting in an increased taxable value for the City of 12.8% and a property tax mill levy increase of 1.19 mills, the City will see increased revenues as adopted in the FY18 Budget. The additional revenue provides increased cash reserves (fund balance), increased personnel costs for employee wages and increased health benefits, and additional staffing that includes amounts budgeted for some much-needed part-time police officers due to increased call volume. The FY18 Budget also provides increases to some maintenance assessments to address capital projects so further deferral of projects does not occur. The FY18 Budget continues to provide for increasing cash reserves in the property tax supported funds at a current level of 15.24%. 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. 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 FY18, Resort Tax collections were up 8.4% compared to the prior year’s first quarter. Water and Wastewater charges for FY18 are anticipated to exceed the prior year due to a rate increase that was effective October 1, 2017. 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. City of Whitefish - Annual Financial Report Page 12 of 135 ---PAGE BREAK--- REQUESTS FOR INFORMATION This financial report is designed to provide a general overview of the City’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Finance Director, City of Whitefish, P.O. Box 158, Whitefish MT 59937. City of Whitefish - Annual Financial Report Page 13 of 135 ---PAGE BREAK--- BASIC FINANCIAL STATEMENTS City of Whitefish - Annual Financial Report Page 14 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 15 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 16 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 17 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 18 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 19 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 20 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 21 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 22 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 23 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 24 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 25 of 135 ---PAGE BREAK--- 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. Pronouncements adopted in the fiscal year ending June 30, 2017 are described below. The government adopted the provisions of the following GASB Statements: GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets that are not within the scope of GASB 68. GASB Statement No. 77. Tax Abatement Disclosures. This statement encompasses tax abatement agreements entered into by governments. The disclosures required by this Statement include agreements that are entered into by the reporting government and agreements that are entered into by other governments and that reduce the reporting government's tax revenues. GASB Statement No. 78, Pensions provided through Certain Multiple-Employer Defined Benefit Pension Plans and amends GASB 68 for cost-sharing multiple-employer defined benefit pension plans that is not a state or local governmental pension plan and provides defined benefit pensions both to employees of local governments and non-governmental employers. GASB Statement No. 80, Blending Requirements of Certain Component Units. GASB Statement No. 82, Pension Issues, an amendment of GASB Statements No. 67, 68 and 73. 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 City of Whitefish - Annual Financial Report Page 26 of 135 ---PAGE BREAK--- 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 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 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 City of Whitefish - Annual Financial Report Page 27 of 135 ---PAGE BREAK--- 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: 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 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 City of Whitefish - Annual Financial Report Page 28 of 135 ---PAGE BREAK--- expected to be liquidated with expendable available financial resources. General capital asset acquisitions are reported as expenditures in governmental funds and proceeds of general long-term debt and acquisitions under capital leases are reported as other financing sources. Property taxes, franchise fees, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other grant requirements have been met. Entitlements and shared revenues are recorded at the time of receipt or earlier if the susceptible to accrual criteria are met. All other revenue items are considered to be measurable and available only when cash is received by the government. Major Funds: The City reports the following major governmental funds: General Fund – This is the City’s primary operating fund and it accounts for all financial resources of the City except those required to be accounted for in other funds. Resort Tax Fund – A special revenue fund established in 1995 to provide budget opportunity to implement City Ordinance 95-15, the Resort Tax Ordinance. The ordinance imposes a 3% resort tax on a range of good and services sold by establishments within the City. The Ordinance specifies that of the 2% is distributed as follows: property tax relief should be provided to Whitefish taxpayers in the amount equal to 25% of the tax revenues derived during the preceding fiscal year, an amount equal to 65% of these revenues shall be used for repair and improvement of existing infrastructure and an amount equal to 5% of the revenues shall be used for bicycle paths and other park improvements. Finally, each collecting merchant is entitled to withhold 5% to defray costs of collecting the tax. Of the other 1% of the resort tax, 25% goes to additional tax relief, 70% to secure and be pledged to the repayment of a loan or a bond to finance a portion of the costs of, or to otherwise pay for, the acquisition of the Haskill Basin Conservation Easement, and the remaining 5% for the merchants’ costs of administration. 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 City of Whitefish - Annual Financial Report Page 29 of 135 ---PAGE BREAK--- 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. City Hall Project Fund – A capital project fund established in fiscal year 2005 to account for revenues and expenses associated with the construction of the new City hall and parking structure. Proprietary Funds: All proprietary funds are accounted for using the accrual basis of accounting. These funds account for operations that are primarily financed by user charges. The economic resource focus concerns determining costs as a means of maintaining the capital investment and management control. Revenues are recognized when earned and expenses are recognized when incurred. Allocations of costs, such as depreciation, are recorded in proprietary funds. Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connections with a proprietary fund’s principal ongoing operations. The principal operating revenues for enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first, then unrestricted resources as they are needed. Major Funds: The City reports the following major proprietary funds: Water Fund – An enterprise fund that accounts for the activities of the City’s water distribution operations. Sewer Fund – An enterprise fund that accounts for the activities of the City’s sewer collection and treatment operations and includes the storm sewer system. City of Whitefish - Annual Financial Report Page 30 of 135 ---PAGE BREAK--- 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: Pension (and other employee benefit) Trust Funds – To report resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans, defined contribution plans, other postemployment benefit plans, or other employee benefit plans. 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, 2017, are as follows: Primary Government Cash on hand and deposits: Petty Cash Demand deposits $ 700 9,717,881 Savings deposits Time deposits 388,198 2,179,764 Investments: State Short-Term Investment Pool (STIP) 10,163,624 Total $ 22,450,166 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 City of Whitefish - Annual Financial Report Page 31 of 135 ---PAGE BREAK--- 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’s investment policy does not further limit its investment choices. Furthermore, 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, 2017, (in thousands) unaudited: *Credit Quality Rating is weighted. Security Investment Type Fair Value Credit Quality Rating* Weighted Average Maturity in Days Treasuries $ 124,774 A-1+ 80 Asset Backed Commercial Paper 1,089,830 A-1 25 Corporate Commercial Paper 356,122 A-1 63 Corporate Notes 369,751 A-1+ 78 Certificates of Deposit 484,113 A-1+ 34 U.S. Government Agency 389,807 A-1+ 24 Money Market Funds (Unrated) 24,219 NR 1 Money Market Funds (Rated) 148,000 A-1+ 1 Total Investments $ 2,986,616 A-1 39 City of Whitefish - Annual Financial Report Page 32 of 135 ---PAGE BREAK--- 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. Custodial Credit Risk Custodial credit risk is the risk that, in the event of a bank failure, the government’s deposits may not be returned to it. The government does not have a deposit policy for custodial credit risk. All deposits are carried at cost plus accrued interest. As of June 30, 2016, the government’s bank balance of $12,285,843 was exposed to custodial credit risk as follows: Depository Account June 30, 2017 Insured $ 1,000,000 - Collateral held by the pledging bank's trust department but not in the City's name. 8,227,962 - Uncollateralized 3,057,881 Total deposits and investments $ 12,285,843 Deposit Security Section 7-6-207, MCA, states The local governing body may require security only for that portion of the deposits which is not guaranteed or insured according to law and, as to such unguaranteed or uninsured portion, to the extent of: 50% of such deposits if the institution in which the deposit is made has a net worth of total assets ratio of 6% or more; or 100% if the institution in which the deposit is made has a net worth of total assets ratio of less than The amount of collateral held for the City’s deposits at June 30, 2016, equaled or exceeded the amount required by State statutes. Cash equivalents For purposes of the statement of cash flows, the enterprise funds consider all funds (including restricted assets) held in the City’s cash management pool to be cash equivalents. City of Whitefish - Annual Financial Report Page 33 of 135 ---PAGE BREAK--- NOTE 3. RESTRICTED CASH/INVESTMENTS The following restricted cash/investments were held by the City as of June 30, 2017. These amounts are reported within the restricted cash/investment account on the Statement of Net Position. Description Amount Debt Service $7,684,037 Replacement and depreciation $206,405 Park Improvements $111,944 Street Improvements $552,413 Tax Relief $1,230,091 Total $9,784,890 NOTE 4. RECEIVABLES An allowance for uncollectible accounts was not maintained for real and personal property taxes receivable. The direct write-off method is used for these accounts. Property tax levies are set in August, after the County Assessor delivers the taxable valuation information to the County, in connection with the budget process and are based on taxable values listed as of January 1 for all property located in the Entity. Taxable values are established by the Montana Department of Revenue, and a revaluation of all property is required to be completed on a periodic basis. Taxable value is defined by Montana statute as a fixed percentage of market value. Real property (and certain attached personal property) taxes are billed within ten days after the third Monday in October and are due in equal installments on November 30 and the following May 31. After those dates, they become delinquent (and a lien upon the property). After three years, the County may exercise the lien and take title to the property. Special assessments are either billed in one installment due November 30 or two equal installments due November 30 and the following May 31. Personal property taxes (other than those billed with real estate) are generally billed no later than the second Monday in July (normally in May or June), based on the prior November’s levies. Personal property taxes, other than mobile homes, are due thirty days after billing. Mobile home taxes are billed in two halves, the first due thirty days after billing; the second due September 30. The tax billings are considered past due after the respective due dates and are subject to penalty and interest charges. Taxes that become delinquent are charged interest at the rate of 5/6 of 1% a month plus a penalty of Real property on which taxes remain delinquent and unpaid may be sold at tax sales. In the case of personal property, the property is to be seized and sold after the taxes become delinquent. City of Whitefish - Annual Financial Report Page 34 of 135 ---PAGE BREAK--- NOTE 5. INVENTORIES The cost of inventories are recorded as an expenditure when purchased. NOTE 6. 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 value of all infrastructure into the 2017 Basic Financial Statements. A summary of changes in governmental capital assets was as follows: Balance July 1, 2016 Additions Retirements Transfers Balance June 30, 2017 Capital assets not being depreciated: Land $ 8,752,278 $ - $ - $ - $ 8,725,278 Construction in Progress 8,731,397 12,186,095 - (20,208,530) 708,962 Total Capital Assets not being depreciated $ 17,456,675 $ 12,186,095 $ - $ (20,208,530) $ 9,434,240 Other capital assets: Buildings $ 20,533,216 $ 13,428 $ - $ 15,916,696 $ 36,463,340 Improvements other than buildings 2,350,637 - - 158,543 2,509,180 Machinery and Equipment 7,688,472 147,417 (202,269) - 7,633,620 Infrastructure 37,854,606 195,924 - 4,133,291 42,183,821 Total capital assets being depreciated $ 68,426,931 $ 356,769 $ (202,269) $ 20,208,530 $ 88,789,961 Less accumulated depreciation: $ (22,622,541) $ (2,993,552) $ 202,269 $ - $ (25,413,824) Total Governmental Capital Assets $ 63,261,065 $ 9,549,312 $ - $ - $ 72,810,377 City of Whitefish - Annual Financial Report Page 35 of 135 ---PAGE BREAK--- Governmental activities depreciation expense was charged to functions as follows: Governmental Activities: General government $56,311 Public safety 620,686 Public works 1,673,757 Culture and recreation 642,798 Total governmental activities depreciation expense $ 2,933,552 A summary of changes in business-type capital assets was as follows: Balance July 1, 2016 Additions Transfers Adjustments Balance June 30, 2017 Capital assets not being depreciated: Land $ 602,783 $ - $ - $ - $ 602,783 Haskill Basin Conservation Easement 7,730,248 - - - 7,730,248 Construction in Progress 2,168,075 1,117,214 (3,039,842) - 245,447 Total Capital Assets not being depreciated $ 10,501,106 $ 1,117,214 $ (3,039,842) $ - $ 8,578,478 Other capital assets: Buildings $ 792,287 $ - $ - $ - $ 792,287 Pumping plant 3,170,905 - - - 3,170,905 Treatment plant 16,515,158 - - - 16,515,158 General plant 1,700,679 97,154 248,677 (4,818) 2,041,692 Machinery and Equipment 134 - - - 134 Transmission and distribution 18,929,763 6,082 2,791,165 - 21,727,010 Total capital assets being depreciated $ 41,108,926 $ 103,236 $ 3,039,842 $ (4,817) $ 44,247,186 Less accumulated depreciation: $ (18,128,540) $ (1,178,942) $ - $ 1,981 $ (19,305,501) Total Governmental Capital Assets $ 33,481,492 $ 41,508 $ - $ (2,836) $ 33,520,163 NOTE 7. 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, 2017, the following changes occurred in liabilities reported in long-term debt: City of Whitefish - Annual Financial Report Page 36 of 135 ---PAGE BREAK--- Governmental Activities: Balance Balance Due Within July 1, 2016 Additions Deletions June 30, 2017 One Year Revenue bonds $ 16,983,000 $ - $ (2,806,000) $ 14,177,000 $ 3,125,000 Special assessment bond 655,000 779,000 (70,000) 1,364,000 79,331 Compensated absences 1,043,311 19,390 - 1,062,701 836,687 Intercap loans 973,268 - (189,715) 783,553 169,652 Net pension liability* 4,013,106 1,754,790 - 5,767,896 - Other post-employment benefits** 2,140,510 423,304 - 2,563,814 - Total $ 25,808,195 $ 2,976,484 $ 3,065,715 $ 25,718,964 $ 4,210,670 *See Note 10 **See Note 8 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, 2016 Additions Deletions June 30, 2017 One Year Revenue bonds $ 13,774,563 $ 439,085 $ (1,381,085) $ 12,832,563 $ 1,530,000 Compensated absences 249,512 19,560 (6,567) 262,505 169,526 Net pension liability* 1,292,060 - (279,721) 1,012,339 - Other post-employment benefits** 689,293 - (172,522) 516,771 - Total $ 16,005,428 $ 458,645 $ (1,839,895) $ 14,624,178 $ 1,699,526 *See Note 10 **See Note 8 Special Assessment Debt – Special assessment bonds are payable from the collection of special assessments levied against benefited property owners within defined special improvement districts. The bonds are issued with specific maturity dates, but must be called and repaid earlier, at par plus accrued interest, if the related special assessments are collected. Rural special improvement districts bonds were issued with revolving fund backing. The City is not obligated to levy and collect a general property tax on all taxable property in the 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, 2017 were as follows: Purpose Origination Date Interest Rate Bond Term Maturity Date Bonds Amount Annual Payment Balance June 30, 2017 SID #166 – JP Road Project 7/6/06 3.65-4.80% 20yrs 7/1/26 $ 1,360,000 Varies $ 585,000 SID #167 1/5/17 4.36% 20yrs 7/1/37 779,000 Varies 779,000 $ 2,139,000 $ 1,364,000 City of Whitefish - Annual Financial Report Page 37 of 135 ---PAGE BREAK--- Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2018 $ 79,331 $ 78,046 2019 91,725 57,501 2020 92,903 53,367 2021 94,132 49,147 2022 95,416 44,840 2023 96,757 40,444 2024 98,157 35,957 2025 99,618 31,376 2026 96,144 26,730 2027 37,737 22,257 2028 39,400 20,594 2029 41,137 18,857 2030 42,950 17,044 2031 44,843 15,151 2032 46,819 13,175 2033 48,883 11,111 2034 51,038 8,956 2035 53,287 6,707 2036 55,636 4,358 2037 58,088 1,906 Total $ 1,364,000 $ 557,524 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, 2017 2016 A Tax Increment Urban renewal Bond (Glacier Bank) 3/1/16 2.21% 4 yrs 7/15/20 $ 4,900,000 $ - $ 4,515,000 2016B Tax Increment Urban Renewal Bond (First Interstate Bank) 3/1/16 2.21% 4 yrs 7/15/20 4,900,000 - 4,515,000 2015 Tax Increment Urban Renewal Refunding Bonds 2015A (Glacier Bank) 6/10/15 2.62% 5 yrs 7/15/20 3,591,500 Varies 2,573,500 2015 Tax Increment Urban Renewal Refunding Bonds 2015B (First Interstate) 6/10/15 2.62% 5yrs 7/15/20 3,591,500 Varies 2,573,500 DNRC - Water 1998 7/6/98 2.00% 20 yrs 7/1/18 400,000 Varies 28,000 DNRC - Water 1999 6/21/99 2.00% 20 yrs 7/1/19 5,839,000 Varies 775,000 Water #06098- 2007 6/15/06 2.25% 20 yrs 7/1/26 248,699 Varies 461,000 City of Whitefish - Annual Financial Report Page 38 of 135 ---PAGE BREAK--- Water WRF #08110 – 2006 9/6/07 2.25% 20 yrs 7/1/27 900,000 Varies 472,000 Water SRF (2009B) 10/21/09 0.75% 20 yrs 7/1/29 120,100 Varies 72,000 Water System Revenue Bond, Taxable Series 2016 (Haskill Basin) 1/1/16 2.50% 20 yrs 1/1/25 8,219,500 Varies 7,216,000 Water DNRC Series 2015 12/7/15 2.50% 30 yrs 1/1/36 120,000 Varies 114,000 Sewer SRF 2002 Series 7/1/02 2.00% 20 yrs 7/1/22 200,000 Varies 57,000 Sewer DNRC (2008A) 12/11/08 2.25% 20 yrs 7/1/28 500,000 Varies 257,000 Sewer DNRC (2008B) 1/16/09 2.25% 20 yrs 1/1/29 1,711,000 Varies 872,000 Sewer DNRC (2010B) 2/4/10 0.75% 20 yrs 1/1/30 48,211 Varies 34,000 Sewer 2011B 8/1/11 3.00% 20 yrs 7/1/31 340,000 Varies 259,000 Sewer 2011C 8/1/11 3.00% 20 yrs 7/1/31 350,000 Varies 280,764 Sewer - River Lakes 11/20/14 2.50% 20 yrs 1/1/35 300,000 Varies 219,799 Sewer 2014 3/6/14 3.00% 20 yrs 1/1/34 452,300 Varies 390,000 Sewer DNRC Series 2015 12/17/15 2.50% 20 yrs 7/1/36 960,000 Varies 903,000 Sewer I & I 7/21/16 2.50% 20 yrs 1/1/36 439,085 Varies 422,000 $38,130,895 $ 27,009,563 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, 2017. Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2018 $ 4,591,000 $ 567,876 2019 4,991,000 464,224 2020 5,059,000 352,680 2021 5,028,000 216,027 2022 1,365,000 147,969 2023 1,456,000 119,184 2024 1,577,000 89,503 2025 1,059,000 57,139 2026 401,000 42,944 2027 265,000 35,102 2028 170,000 28,515 2029 168,000 24,592 2030 164,000 20,689 2031 162,764 16,540 2032 141,000 12,130 2033 130,000 8,820 2034 125,799 5,810 City of Whitefish - Annual Financial Report Page 39 of 135 ---PAGE BREAK--- 2035 94,000 2,650 2036 62,000 760 Total $ 27,009,563 $ 2,213,154 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, 2017 were as follows: Purpose Origination Date Interest Rate Term Maturity Date Principal Amount Balance June 30, 2017 Ice Rink 10/1/2012 1.00-1.55% 5yrs 8/15/2017 $ 140,000 $ 15,893 Emergency Vechicle 3/14/2014 1.00-1.55% 5 yrs 2/15/2019 155,597 62,315 Fire Pumper Type 1 6/20/2014 1.00-1.55% 10 yrs 8/15/2024 485,112 153,408 Fire Pumper 10/3/2014 1.00-1.55% 10 yrs 8/15/2024 282,659 214,237 Water Tender Fire Apparatus 2/13/2015 1.00-1.55% 7 yrs 2/15/2022 211,000 152,197 Fire SCBAs 12/4/2015 1.25-2.5% 5 yrs 2/15/2021 230,453 185,503 Total $1,504,821 $ 783,553 Reported in the governmental activities. Annual requirement to amortize debt: For Fiscal Year Ended Principal Interest 2018 $ 169,850 $ 11,292 2019 155,494 8,940 2020 125,601 6,688 2021 126,971 4,830 2022 80,514 2,941 2023 49,973 1,779 2024 50,473 1,091 2025 24,678 324 Total $ 783,554 $ 37,885 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 City of Whitefish - Annual Financial Report Page 40 of 135 ---PAGE BREAK--- 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 8. 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. Since retirees are usually older than the average age of the plan participants they receive a benefit of lower insurance rates. This benefit is reported as the Other Post-Employment Benefits (OPEB) liability. 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. Funding Policy. The government pays OPEB liability costs on a pay-as-you-go basis. A trust fund for future liabilities has not been established. Funding Status and funding Progress. The funded status of the plan as of June 30, 2017, was as follows: Actuarial Accrued Liability (AAL) $ 2,121,532 Actuarial value of plan assets - Unfunded Actuarial Accrued Liability (UAAL) $ 2,121,532 Funded ratio (actuarial value of plan assets/AAL) 0% Covered payroll (active plan members) $ 4,790,758 UAAL as a percentage of covered payroll 44.30% Annual OPEB Cost and Net OPEB Obligation. The government's annual other post- employment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount determined in accordance with the parameter of GASB statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty (30) years. The following table shows the components of the government's annual OPEB cost for the year, the amount actually contributed to the plan, and changes in the government's net OPEB obligation. City of Whitefish - Annual Financial Report Page 41 of 135 ---PAGE BREAK--- Annual Required Contribution (ARC) $ 240,888 Interest on net OPEB obligation - Adjustment to ARC - Annual OPEB cost (expense) $ 240,888 Contributions made - Increase in net OPEB obligation $ 240,888 Net OPEB obligation - beginning of year 2,829,803 Net OPEB obligation - end of year $ 3,080,585 Actuarial Methods and Assumptions. The following actuarial methods and assumptions were used: Actuarial cost method Unit Credit Cost Method Average age of retirement (based on historical data) 65 Discount rate (average anticipated rate) 3.82% Average salary increase (Consumer Price Index) 3.80% Health care cost rate trend (Federal Office of the Actuary) Year % Increase 2018 6.50% 2019 6.25% 2020 6.00% 2021 5.75% 2022 5.50% 2023 5.25% 2024 and after 5.00% NOTE 9. INTERFUND RECEIVABLES AND PAYABLES The composition of interfund balances as of June 30, 2017, was as follows: Interfund Transfers The following is an analysis of operating transfers in and out during fiscal year 2017: Purpose Receivable Fund Payable Fund Amount Property Tax relief General Fund – Major Governmental Resort Tax – Major Governmental $ 862,869 Resort Tax paid debt service for the Haskill Basin Conservation Easement Water Fund – Major Business-Type Resort Tax – Major Governmental 898,726 City of Whitefish - Annual Financial Report Page 42 of 135 ---PAGE BREAK--- Operating Parks Fund – Nonmajor Governmental General Fund – Major Governmental 672,579 Operating Fire and Ambulance – Major Governmental General Fund – Major Governmental 835,000 Operating Library Fund – Nonmajor Governmental General Fund – Major Governmental 34,371 Construction City Hall Project – Major Governmental Tax Increment – Major Governmental 1,821,261 Construction City Hall Project – Major Governmental General Fund – Major Governmental 5,760 Debt Payments Tax Increment Revenue Bond Debt – Major Governmental Tax Increment – Major Governmental 3,458,768 Urban Renewal Projects Tax Increment – Major Governmental Impact Fees – Nonmajor Governmental 203,386 Construction City Hall Project – Major Governmental Impact Fees – Nonmajor Governmental 188,098 Property Tax relief General Fund – Major Governmental Water Fund – Major Business-Type 319,485 9,300,303 Advances to/from other funds Purpose Receivable Fund Payable Fund Amount Half of annual Assessment SID Revolving- Nonmajor Governmental SID 166 – Nonmajor Governmental $ 58,699 Deficit Cash balance General – Major Governmental Drug Forfeiture – Nonmajor Governmental 172,817 $ 231,516 City of Whitefish - Annual Financial Report Page 43 of 135 ---PAGE BREAK--- NOTE 10. 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). 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 that was established in 1974 and is governed by Title 19, chapters 2 & 9 of the 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. Benefits are based on eligibility, years of service, and final average compensation. Member rights for death and disability are vested immediately. All other rights are vested after five years of service. 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 system 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. Benefits are based on eligibility, years of service, and either final compensation or final average compensation. Effective July 1, 2005, the benefits are City of Whitefish - Annual Financial Report Page 44 of 135 ---PAGE BREAK--- based on highest average compensation and highest average compensation. Member rights for death and disability are vested immediately. All other member rights are vested after five years of service. 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: Age 60, 5 years of membership service; Age 65, regardless of membership service; or Any age, 30 years of membership service. Hired on or after July 1, 2011: Age 65, 5 years of membership service; Age 70, regardless of membership service. Early retirement, actuarially reduced: Hired prior to July 1, 2011: Age 50, 5 years of membership service; or Any age, 25 years of membership service. Hired on or after July 1, 2011: Age 55, 5 years of membership service. 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 45 of 135 ---PAGE BREAK--- 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 Eligibility for benefit 20 years of membership service, regardless of age. Age 50, 5 years of membership service. Vesting Death and disability rights are vested immediately 5 years of membership service for all other rights 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. City of Whitefish - Annual Financial Report Page 46 of 135 ---PAGE BREAK--- Compensation Cap • Hired on or after July 1, 2013 – 110% annual cap on compensation considered as a part of a member’s final average compensation. benefit formula 2.5% of FAC per year of service credit. 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 3.0% each January, inclusive of all other adjustments to the member’s benefit. Minimum benefit adjustment (non-GABA) If hired before July 1, 1997 and member did not elect GABA - the retirement, disability or survivor’s benefit may not be less than ½ the compensation of a newly confirmed officer in the city that the member was last employed. FURS Eligibility for benefit 20 years of membership service, regardless of age. Age 50, 5 years of membership service. Vesting Death and disability rights are vested immediately 5 years of membership service for all other rights Member’s compensation is defined as • 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. Compensation Cap • Hired on or after July 1, 2013 – 110% annual cap on compensation considered as a part of a member’s highest average compensation. benefit formula 1) Members hired prior to July 1, 1981 and not electing GABA are entitled to the greater of: 2.5% of HMC per year of service, OR i) if less than 20 years of service 2% of HMC for each year of service; ii) if more than 20 years of service 50% of the member’s HMC plus 2% of the member’s HMC for each year of service over 20 years City of Whitefish - Annual Financial Report Page 47 of 135 ---PAGE BREAK--- 2) Members hired on or after July 1, 1981 and those electing GABA: 2.5% of HAC per year of membership service 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 3.0% each January, inclusive of all other adjustments to the member’s benefit Minimum Benefit Adjustment (non-GABA) If hired before July 1, 1997 and member did not elect GABA - the retirement, disability or survivor’s benefit may not be less than ½ the compensation of a newly confirmed firefighter employed by the city that last employed the member (provided the member has at least 10 years of membership service). Overview of Contributions PERS 1. Rates are specified by state law for periodic employer and employee contributions. a. Contributions are deducted from each member’s salary and remitted by participating employers; b. The State legislature has the authority to establish and amend contribution rates to the plan. 2. Member contributions to the system: a. Plan members are required to contribute 7.90% of member’s compensation. Contributions are deducted from each member’s salary and remitted by participating employers. b. The 7.90% member contributions is temporary and will be decreased to 6.9% on January 1 following actuary valuation results that show the amortization period has dropped below 25 years and would remain below 25 years following the reduction of both the additional employer and additional member contribution rates. 3. Employer contributions to the system: a. Local government entities are required to contribution 8.17% of members’ compensation. b. School district employers contributed 7.90% of members’ compensation. c. 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. d. Effective July 1, 2013, employers are required to make contributions on working retirees’ compensation. Member contributions for working retirees are not required. City of Whitefish - Annual Financial Report Page 48 of 135 ---PAGE BREAK--- e. The Plan Choice Rate (PCR), that directed a portion of employer contributions for DC members to the PERS defined benefit plan, are included in the employers reporting. The PCR was paid off effective March 2016 and the contributions previously directed to the PCR are now directed to member accounts. 4. Non Employer Contributions a. Special Funding i. The State contributes 0.1% of members’ compensation on behalf of local government entities. ii. The State contributes 0.37% of members’ compensation on behalf of school district entities. 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. Member Fiscal Year Hired <7/1/75 Hired >6/30/75 Hired >6/30/79 Hired>6/30/9 7 GABA Employer State 2000-2017 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 1998-2017 9.500% 10.700% 14.360% 32.610% 1997 7.800% 14.360% 32.610% City of Whitefish - Annual Financial Report Page 49 of 135 ---PAGE BREAK--- 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 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. 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, 2016 and June 30, 2015 (reporting dates). PERS NPL as of 6/30/17 PERS NPL as of 6/30/16 Percent of Collective NPL as of 6/30/2017 MPOR NPL as of 6/30/17 MPOR NPL as of 6/30/16 Percent of Collective NPL as of 6/30/17 FURS NPL as of 6/30/17 FURS NPL as of 6/30/16 Percent of Collective NPL as of 6/30/17 Total NPL as of 6/30/17 Total Percent Collective NPL as of 6/30/17 Employer Proportionate Share $ 4,646,925 $ 3,443,819 0.2728% $ 1,222,583 $ 1,031,015 0.6972% $ 910,727 $ 830,332 0.7974% $ 6,780,235 1.7674% State of Montana Proportionate Share associated with Employer 56,780 42,302 0.0033% 2,426,881 2,088,934 1.3482% 2,063,421 1,849,371 1.8066% 4,547,082 3.1581% Total $ 4,703,705 $ 3,486,121 0.2761% $ 3,649,464 3,119,949 2.0454% 2,974,148 $ 2,679,703 2.6040% $ 11,327,317 4.9255% At June 30, 2017, the employer recorded a liability of $6,780,235 for its proportionate share of the Net Pension Liability. The net pension liability was measured as of June 30, 2017, 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 City of Whitefish - Annual Financial Report Page 50 of 135 ---PAGE BREAK--- 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, 2017, the employer’s proportion was 4.9255 percent. Changes in actuarial assumptions and methods: PERS, MPORS, FURS There were no changes in assumptions or other inputs that affected the measurement of the Total Pension Liability for PERS, MPORS, FURS. Changes in benefit terms: There have been no changes in benefit terms since the previous measurement date. Changes in proportionate share: Between the measurement date of the collective NPL and the employer’s reporting date there were some changes in proportion that may have an effect on the employer’s proportionate share of the collective NPL. City of Whitefish - Annual Financial Report Page 51 of 135 ---PAGE BREAK--- Pension Expense as of 6/30/17 Pension Expense (PERS) as of 6/30/2017 Pension Expense (MPORS) as of 6/30/2017 Pension Expense (FURS) as of 6/30/2017 Total Pension Expense as of 6/30/2017 Employer Proportionate Share $ 449,266 $ 166,107 $ 111,671 $ 727,044 State of Montana Proportionate Share associated with the Employer 86,173 260,051 267,504 613,728 Total $ 535,439 $ 426,158 $ 379,175 $ 1,340,772 At June 30, 2017, the employer recognized a Pension Expense of $727,044 for its proportionate share of the pension expense. The employer also recognized grant revenue of $613,728 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, 2017, the employer recognized a beginning deferred outflow of resources for the employers FY 2016 contributions of $583,530. Deferred Inflows and Outflows At June 30, 2017, 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 52 of 135 ---PAGE BREAK--- PERS Deferred Outflows of Resources PERS Deferred Inflows of Resources MPORS Deferred Outflows of Resources MPORS Deferred Inflows of Resources FURS Deferred Outflows of Resources FURS Deferred Inflows of Resources Total Deferred Outflows of Resources Total Deferred Inflows of Resources Differences between expected and actual economic experience $ 25,073 $ 15,381 $ - $ 24,907 $ - $ 8,574 $ 25,073 $ 48,862 Changes in actuarial assumptions - - - - - - - - Actual vs. Expected Investment Earnings 437,183 - 79,725 - 95,344 - 612,252 - Changes in Proportion Share and Differences between Employer Contributions and Proportionate Share of Contributions 353,072 - 90,969 - - 30,295 444,041 30,295 Employer contributions sunsequent to the measurement date - #FY17 305,354 - 133,396 - 158,477 - 597,227 - Total $ 1,120,682 $ 15,381 $ 304,090 $ 24,907 $ 253,821 $ 38,869 $ 1,678,593 $ 79,157 *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, 2017. 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 53 of 135 ---PAGE BREAK--- Deferred Inflows and Outflows PERS: Year ended June 30: Amount of deferred outflows and deferred recongized in furture years as an increase or (decrease) to Pension Expense 2017 $ 21,166 2018 $ 21,166 2019 $ 248,435 2020 $ 156,108 2021 $ - Thereafter $ - MPORS: Year ended June 30: Amount of deferred outflows and deferred recongized in furture years as an increase or (decrease) to Pension Expense 2017 $ (2,498) 2018 $ (2,498) 2019 $ 33,678 2020 $ 25,685 2021 $ - Thereafter $ - FURS: Year ended June 30: Amount of deferred outflows and deferred recongized in furture years as an increase or (decrease) to Pension Expense 2017 $ 6,919 2018 $ 6,919 2019 $ 45,570 2020 $ 28,906 2021 $ (1,545) Thereafter $ - City of Whitefish - Annual Financial Report Page 54 of 135 ---PAGE BREAK--- Actuarial Assumptions PERS The Total Pension Liability (TPL) used to calculate the NPL was determined by an actuarial valuation as of June 30, 2015, with update procedures to roll forward the TPL to June 30, 2016. There were several significant assumptions and other inputs used to measure the Total Pension Liability. The actuarial assumptions used in the June 30, 2016 valuation were based on the results of the last actuarial experience study, dated June 2010 for the six-year period July 1, 2003 to June 30, 2009. Among those assumptions were the following: • General Wage Growth* 4.00% • *includes Inflation at 3.00% • Merit Increases 0% to 6% • Investment Return (net of admin expense) 7.75% • Admin Expense as a % of Payroll 0.27% • 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. o 3% for members hired prior to July 1, 2007 o 1.5% for members hired between July 1, 2007 and June 30, 2014 o 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, terminated vested members, service retired members and beneficiaries based on RP 2000 Combined Employee and Annuitant Mortality Tables projected to 2015 with scale AA. • Mortality assumptions among Disabled Retirees are based on RP 2000 Combined Employee and Annuitant Mortality Tables with no projections. No future mortality improvement is assumed. MPORS, FURS The TPL used to calculate the NPL was determined by taking the results of the June 30, 2015, actuarial valuation and applying standard roll forward procedures to update the TPL to June 30, 2016. There were several significant assumptions and other inputs used to measure the TPL. The actuarial assumptions used in the June 30, 2016, valuation were based on the results of the last actuarial experience study, dated June 2010, for the six- year period July 1, 2003 to June 30, 2009. Among those assumptions were the following: Investment Return (net of admin expense) 7.75% Admin Expense as % of Payroll 0.20% City of Whitefish - Annual Financial Report Page 55 of 135 ---PAGE BREAK--- General Wage Growth* 4.00% *includes Inflation at 3.00% Merit Increases 0% to 7.3% • 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 2015 with scale AA. • Mortality assumptions among Disabled Retirees were based on RP 2000 Combined Employee and Annuitant Mortality Tables with no projections. No future mortality improvements were assumed. FURS Guaranteed Annual Benefit Adjustment (GABA) Members hired on or after July 1, 1997, or those electing GABA - after the member has completed 12 full months of retirement, the member’s benefit increases by a maximum of 3% each January, inclusive of all other adjustments to the member’s benefit. Minimum Benefit Adjustment (non-GABA) Members hired before July 1, 1997 and member did not elect GABA - the retirement, disability or survivor’s benefit may not be less than ½ the compensation of a newly confirmed firefighter employed by the city that last employed the member (provided the member has at least 10 years of membership service). City of Whitefish - Annual Financial Report Page 56 of 135 ---PAGE BREAK--- Discount Rate PERS, MPORS, FURS The discount rate used to measure the Total Pension Liability was 7.75%. 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 contributes coal severance tax and interest money from the general fund. The interest is contributed and the severance tax is contributed quarterly. 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 2117. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the Total Pension Liability. No municipal bond rate was 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 2117. 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 2117. 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 57 of 135 ---PAGE BREAK--- 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 3.00% Portfolio Return Expectation 7.37% The long-term expected return on pension plan assets is reviewed as part of the regular experience studies prepared for the System. The most recent analysis, performed for the period covering fiscal years 2003 through 2009, is outlined in a report dated June 2010, which is 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, 2016, are summarized in the table above. Sensitivity Analysis 1.0% Decrease Current 1.0% Increase -6.75% Discount Rate -8.75% PERS $ 6,743,031 $ 4,646,925 $ 2,841,335 MPOR$ 1,646,143 $ 1,222,583 $ 760,554 FURS $ 1,434,018 $ 910,727 $ 480,466 City of Whitefish - Annual Financial Report Page 58 of 135 ---PAGE BREAK--- 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 7.75%, as well as what the Net Pension Liability would be if it were calculated using a discount rate that is 1.00% lower (6.75%) or 1.00% higher (8.75%) 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). NOTE 11. LOCAL RETIREMENT PLANS Deferred Compensation Plan The Entity offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan available to all Entity employees permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. Fire Department Relief Association Disability and Pension Fund City volunteer firefighters are covered by the Fire Department Relief Association Disability and Pension Fund, which is established by State Law. The Association is managed by a Board of Trustees made up of members of the fire department, and is accounted for as a pension trust fund of the town. A member of a volunteer fire department who has served 20 years or more is entitled to benefits regardless of age. Volunteer serving less than 20 years but more than 10 years may receive reduced benefits. The amount of the pension benefits is set by the Association’s Board of Trustees. City of Whitefish - Annual Financial Report Page 59 of 135 ---PAGE BREAK--- NOTE 12. FUND BALANCE CLASSIFICATION POLICIES AND PROCEDURES The government considers restricted amounts to have been spent first when an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available. The government considers that committed amounts would be reduced first, followed by assigned amounts, and then unassigned amounts when expenditures are incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used. Restricted Fund Balance Major Fund Amount Purpose of Restriction Resort Tax $ 1,817,152 Street/Park Improvements and Property Tax Relief Fire & Ambulance 430,508 Emergency Services Tax Increment Revenue Bond 4,991,187 Debt Service All Other Aggregate: 1,340,551 Maintenance of Streets 105,984 99,410 Culture & Recreation Services and Improvements Library Services 142,795 Construction Inspections 129,678 Impact Fee Eligible Improvements 154,762 Sidewalk Improvements 629,757 Storm Drainage 114,389 Miscellaneous 226778 Debt Service $ 10,182,951 NOTE 13. DEFICIT FUND BALANCES/NET POSITION Fund Name Amount Reason for Deficit How Deficit will be Eliminated Drug Forfeiture $172,817 Advance from General Fund Transfer of Cash SID 166 Bond Debt 38,287 Advance from SID Revolving Fund Future Assessments Tax Increment 61,071 Accounts payable Property Taxes WF Trail Construction 700 Accounts payable Transfer of Cash Total $272,875 City of Whitefish - Annual Financial Report Page 60 of 135 ---PAGE BREAK--- NOTE 14. RESTATEMENTS During the current fiscal year, the following adjustments relating to prior years' transactions were made to fund balance and net position. Fund Amount Reason for Adjustment Water $81,651 Prior Period OPEB Adjustment Sewer 87,580 Prior Period OPEB Adjustment Solid Waste 66,944 Prior Period OPEB Adjustment Total $ 236,175 NOTE 15. INTERLOCAL AGREEMENT The City of Whitefish, Montana and the City of Columbia Falls, Montana entered into an interlocal agreement or the provision of building code inspection services in August 1999. The City of Whitefish through its building department agreed to provide plan review, site review, and site inspection services relating to the enforcement of the State and City of Columbia Falls technical, building and plumbing codes within the extended jurisdictional limits of Columbia Falls. Columbia Falls agreed to pay Whitefish a sum equal to 65% of the permitting fees paid by the permit applicant on the project inspected, payable on a basis. Whitefish agreed to provide Columbia Falls, on a basis, a report concerning all services provided to Columbia Falls. NOTE 16. JOINT VENTURES Joint ventures are independently constituted entities generally created by two or more governments for a specific purpose which are subject to joint control, in which the participating governments retain 1) an ongoing financial interest or 2) an ongoing financial responsibility. Flathead County 911 Emergency Coordination Center Flathead County along with the City of Kalispell, the City of Columbia Falls, and the City of Whitefish, participate in a County-wide enhanced 911 public safety answering point call Flathead County 911 Emergency Coordination Center (ECC) that was established by an interlocal agreement in February 1999. The ECC was formed for the purpose of providing for police/law enforcement public safety dispatch point (PSDP) districts, fire service areas, and licensed emergency services for all fire departments, fire local and county-wide multi-agency and/or multi-jurisdictional emergencies and disaster response. The Board consists of five members: Flathead County Sheriff, one member of the Flathead County Board of Commissioners, and one member for each of the City’s operations for the ECC are accounted for in the 011 fund and reported in the general purpose financial statements of Flathead County within a Special revenue fund. The salaries for the dispatch services are reported under the participating entities sheriff and police departments. City of Whitefish - Annual Financial Report Page 61 of 135 ---PAGE BREAK--- Big Mountain County Sewer District The City permits the District to connect to the City’s sanitary sewage collection system. The usage rate charged by the City to the District is $44.00 per month plus $10.93 per thousand gallons. NOTE 17. SERVICES PROVIDED TO OTHER GOVERNMENTS County Provided Services The City is provided various financial services by Flathead County. The County also serves as cashier and treasurer for the City for tax and assessment collections and other revenues received by the County which are subject to distribution to the various taxing jurisdictions located in the County. The collections made by the County on behalf of the City are accounted for in an agency fund in the City’s name and are periodically remitted to the City by the County Treasurer. No service charges have been recorded by the City or the County. NOTE 18. RISK MANAGEMENT The City faces considerable number of risks of loss, including damage to and loss of property and contents, employee torts, professional liability, i.e., errors and omissions, environmental damage, workers' compensation, i.e., employee injuries, and medical insurance costs of employees. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal years. Insurance Polices: Commercial policies transferring all risks of loss, except for relatively small deductible amounts are purchased for property and content damage, employee torts, and professional liabilities. Employee medical insurance is provided for by a commercial carrier. And, given the lack of coverage available, the City has no coverage for potential losses from environmental damages. Insurance Pools: The City participates in the state-wide public safety risk pool, Montana Municipal Insurance Authority for workers’ compensation. In 1986, the City joined together with other Montana cities to form the Montana Municipal Insurance Authority which established a workers’ compensation plan and a tort liability plan. Both public entity risk pools currently operate as common risk management and insurance programs for the member governments. The liability limits for damages in tort action are $750,000 per claim and $1.5 million per occurrence with a $3,750 deductible per occurrence. State tort law limits the City’s liability to $1.5 million. The City pays an annual premium for its employee injury insurance coverage, which is allocated to the employer funds based on total salaries and wages. The agreements for formation of the pools provide that they will be self- sustaining through member premiums. City of Whitefish - Annual Financial Report Page 62 of 135 ---PAGE BREAK--- Separate audited financial statements are available from the Montana Municipal Insurance Authority. NOTE 19. RESORT TAX In 1995, the citizens of the City of Whitefish approved a 2% resort tax. City Ordinance 15 restricted the tax proceeds as follows: Administration fee to business owners 5% Parks Improvements 5% Street Improvements 65% Tax Relief 25% In April 2015, it was voted and approved to increase the resort tax 1% starting July 1, 2015. The 1% tax proceeds are restricted as follows: Tax Relief 25% Debt Service 70% Administration fee to business owners 5% On June 30, 2017 the Resort Tax Fund has a cash balance of $1,835,347. This balance was restricted as follows: Park Improvements $111,944 Street Improvements $552,413 Tax Relief $1,170,990 NOTE 20. WHITEFISH LAKE GOLF COURSE In January 2011, the City leased the Whitefish Lake Golf Course to the Whitefish Lake Golf Club, Inc. The term of the lease is 30 years beginning January 1, 2011 and ending December 21, 2040. The annual rental payments due to the City are $22,375 per year and shall increase by the December to December change in the Consumer Price Index every five years beginning with the payment due in June 2016. In addition, the City will receive a net profits payment beginning February 2012 of 3% of the prior year’s net profits for the Whitefish Lake Golf Club, Inc. NOTE 21. PENDING LITIGATION There is litigation pending against the City, but the City Attorney has made no evaluation as to the outcome of each case. The City has liability insurance which may cover all or part of the damages requested. City of Whitefish - Annual Financial Report Page 63 of 135 ---PAGE BREAK--- REQUIRED SUPPLEMENTARY INFORMATION City of Whitefish - Annual Financial Report Page 64 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 65 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 66 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 67 of 135 ---PAGE BREAK--- City of Whitefish - Annual Financial Report Page 68 of 135 ---PAGE BREAK--- Actuarial Valuation Date July 1, 2009 July 1, 2012 July 1, 2015 Actuarial Value of Assets - $ - $ - $ Actuarial Accrued Liability 2,138,344 $ 2,917,871 $ 2,121,532 $ Unfunded Actuarial Accrued Liability (UAAL) 2,138,344 $ 2,917,871 $ 2,121,532 $ Funded Ratio 0% 0% 0% Annual Covered Payroll 5,340,571 $ 4,966,132 $ 5,408,041 $ Ratio of UAAL to Annual Covered Payroll 40.0% 58.8% 39.2% CITY OF WHITEFISH REQUIRED SUPPLEMENTARY INFORMATION FISCAL YEAR ENDING JUNE 30, 2017 OTHER POST EMPLOYMENT BENEFITS PLAN RETIREE HEALTH INSURANCE City of Whitefish - Annual Financial Report Page 69 of 135 ---PAGE BREAK--- #Schedule of Proportionate Share of Net Pension Liability 2016 2015 2014 Employer's proportion of the net pension liability 4,646,925 $ 3,443,819 $ 2,996,189 $ Employer's proportionate share of the net pension liability associated with the Employer (as a percentage) 0.27280% 0.24636% 0.24046% State of MT proportionate share of the net pension liability associated with the Employer 56,780 $ 42,302 $ 36,588 $ Total 4,703,705 $ 3,486,121 $ 3,032,777 $ Employer's covered-employee payroll 3,267,805 $ 2,875,089 $ 2,722,032 $ Employer's proportionate share of the net pension liability as of its covered-employee payroll (as a percentage) 142.200% 119.781% 110.072% Plan fiduciary net position the total pension liability (as a percentage) 74.710% 78.400% 79.900% *Schedule of Contributions: 2017 2016 2015 Contractually required contributions 305,801 $ 282,374 $ 253,208 $ Contributions in relation to the contractually required contributions 305,801 $ 282,374 $ 253,208 $ Contribution deficiency (excess) - $ - $ - $ Employer's covered-employee payroll 3,653,539 $ 3,267,805 $ 2,875,089 $ Contributions of covered-employee payroll (as a percentage) 8.370% 8.641% 8.807% #Schedule of Proportionate Share of Net Pension Liability 2016 2015 2014 Employer's proportion of the net pension liability 910,727 $ 830,332 $ 814,039 $ Employer's proportionate share of the net pension liability associated with the Employer (as a percentage) 0.797400% 0.811847% 0.833914% State of MT proportionate share of the net pension liability associated with the Employer 2,063,421 $ 1,849,371 $ 1,836,432 $ Total 2,974,148 $ 2,679,704 $ 2,650,471 $ Employer's covered-employee payroll 1,122,869 $ 1,091,002 $ 1,083,229 $ Employer's proportionate share of the net pension liability as of its covered-employee payroll (as a percentage) 81.110% 76.107% 75.149% Plan fiduciary net position the total pension liability (as a percentage) 75.480% 76.900% 76.700% *Schedule of Contributions: 2017 2016 2015 Contractually required contributions 158,477 $ 160,540 $ 159,717 $ Contributions in relation to the contractually required contributions 158,477 $ 160,540 $ 159,717 $ Contribution deficiency (excess) - $ - $ - $ Employer's covered-employee payroll 1,103,598 $ 1,122,869 $ 1,091,002 $ Contributions of covered-employee payroll (as a percentage) 14.360% 14.297% 14.639% #The amounts presented above for each fiscal year were determined as of June 30th, the measurement date. Schedule is intended to show information for 10 years. Additional years will be displayed as they become available. FISCAL YEAR ENDING JUNE 30, 2017 SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY AND CITY OF WHITEFISH REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS FOR LAST TEN FISCAL YEARS PERS FURS *The amounts presented above for each fiscal year were determined as of June 30th, the employer’s most recent fiscal year end. City of Whitefish - Annual Financial Report Page 70 of 135 ---PAGE BREAK--- #Schedule of Proportionate Share of Net Pension Liability 2016 2015 2014 Employer's proportion of the net pension liability 122,583 $ 1,031,015 $ 946,627 $ Employer's proportionate share of the net pension liability associated with the Employer (as a percentage) 0.679200% 0.623268% 0.602426% State of MT proportionate share of the net pension liability associated with the Employer 2,426,811 $ 2,088,934 $ 1,912,300 $ Total 3,649,464 $ 3,119,949 $ 2,858,927 $ Employer's covered-employee payroll 958,753 $ 862,615 $ 808,297 $ Employer's proportionate share of the net pension liability as of its covered-employee payroll (as a percentage) 127.520% 119.522% 117.114% Plan fiduciary net position the total pension liability (as a percentage) 65.620% 66.900% 67.000% *Schedule of Contributions: 2017 2016 2015 Contractually required contributions 133,396 $ 140,445 $ 125,045 $ Contributions in relation to the contractually required contributions 133,396 $ 140,445 $ 125,045 $ Contribution deficiency (excess) - $ - $ - $ Employer's covered-employee payroll 925,729 $ 958,753 $ 862,615 $ Contributions of covered-employee payroll (as a percentage) 14.410% 14.650% 14.500% #The amounts presented above for each fiscal year were determined as of June 30th, the measurement date. Schedule is intended to show information for 10 years. Additional years will be displayed as they become available. CITY OF WHITEFISH REQUIRED SUPPLEMENTARY INFORMATION FISCAL YEAR ENDING JUNE 30, 2017 SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY AND SCHEDULE OF CONTRIBUTIONS FOR LAST TEN FISCAL YEARS - CONT. *The amounts presented above for each fiscal year were determined as of June 30th, the employer’s most recent fiscal year end. MPORS City of Whitefish - Annual Financial Report Page 71 of 135 ---PAGE BREAK--- OTHER SUPPLEMENTARY INFORMATION City of Whitefish - Annual Financial Report Page 72 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 1 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2017 2110 2210 2220 2390 STREET AND ALLEY PARKS, RECREATION LIBRARY FUND DRUG FORFEITURE ASSETS Cash and cash equivalents 1,395,858.61 165,879.44 105,602.25 0.00 Petty cash 0.00 0.00 50.00 0.00 Cash and cash equivalents - restricted 0.00 ( 1,130.67) 0.00 0.00 Taxes receivable: Real estate 0.00 0.00 17,574.28 0.00 Personal 0.00 0.00 12.43 0.00 Protested 0.00 0.00 6,653.48 0.00 Special assessments 107,367.27 46,829.17 0.00 0.00 Other receivables 24,996.90 0.00 0.00 0.00 TOTAL ASSETS 1,528,222.78 211,577.94 129,892.44 0.00 Deferred Outflows of Resources LIABILITIES Accounts payable 53,342.64 11,243.21 0.00 0.00 Other accrued payables 26,961.87 47,521.60 6,242.64 0.00 Advances from other funds 0.00 0.00 0.00 172,816.88 TOTAL LIABILITIES 80,304.51 58,764.81 6,242.64 172,816.88 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 107,367.27 46,829.17 24,240.19 0.00 Total Deferred Inflows of Resources 107,367.27 46,829.17 24,240.19 0.00 FUND BALANCES Unassigned (negative balance only) 1,340,551.00 105,983.96 99,409.61 ( 172,816.88) Total Fund Balances 1,340,551.00 105,983.96 99,409.61 ( 172,816.88) Total Liabilities, Deferred 1,528,222.78 211,577.94 129,892.44 0.00 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 73 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 2 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2017 2394 2399 2400 2410 BUILDING CODES IMPACT FEES LIGHT DISTRICT #1 LIGHT DISTRICT #4 ASSETS Cash and cash equivalents 158,762.14 0.00 36,284.76 14,825.95 Petty cash 0.00 0.00 0.00 0.00 Cash and cash equivalents - restricted 0.00 129,677.86 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 10,265.01 11,326.88 Other receivables 0.00 0.00 0.00 0.00 TOTAL ASSETS 158,762.14 129,677.86 46,549.77 26,152.83 Deferred Outflows of Resources LIABILITIES Accounts payable 252.02 0.00 0.00 0.00 Other accrued payables 15,715.33 0.00 1,114.37 1,114.37 Advances from other funds 0.00 0.00 0.00 0.00 TOTAL LIABILITIES 15,967.35 0.00 1,114.37 1,114.37 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 0.00 10,265.01 11,326.88 Total Deferred Inflows of Resources 0.00 0.00 10,265.01 11,326.88 FUND BALANCES Unassigned (negative balance only) 142,794.79 129,677.86 35,170.39 13,711.58 Total Fund Balances 142,794.79 129,677.86 35,170.39 13,711.58 Total Liabilities, Deferred 158,762.14 129,677.86 46,549.77 26,152.83 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 74 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 3 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2017 2525 2917 2945 2987 STORM WATER CRIME VICTIMS ASSI CDBG HOUSING AND C HOUSING REHABILITA ASSETS Cash and cash equivalents 629,757.03 743.00 0.00 3,369.27 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 8,157.29 0.00 0.00 0.00 Other receivables 0.00 0.00 0.00 0.00 TOTAL ASSETS 637,914.32 743.00 0.00 3,369.27 Deferred Outflows of Resources LIABILITIES Accounts payable 0.00 0.00 0.00 0.00 Other accrued payables 0.00 0.00 0.00 0.00 Advances from 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 8,157.29 0.00 0.00 0.00 Total Deferred Inflows of Resources 8,157.29 0.00 0.00 0.00 FUND BALANCES Unassigned (negative balance only) 629,757.03 743.00 0.00 3,369.27 Total Fund Balances 629,757.03 743.00 0.00 3,369.27 Total Liabilities, Deferred 637,914.32 743.00 0.00 3,369.27 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 75 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 4 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2017 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 10,500.00 Petty cash 0.00 0.00 0.00 0.00 Cash and cash equivalents - restricted 0.00 49,895.80 154,762.19 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 49,895.80 154,762.19 10,500.00 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 Advances from 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 49,895.80 154,762.19 10,500.00 Total Fund Balances 1,000.00 49,895.80 154,762.19 10,500.00 Total Liabilities, Deferred 1,000.00 49,895.80 154,762.19 10,500.00 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 76 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 5 of 5 47. COMBINING BALANCE SHEET - NONMAJOR SPECIAL REVENUE FUNDS For the year ending June 30, 2017 Total Nonmajor Spec. Rev. Funds ASSETS Cash and cash equivalents 2,522,582.45 Petty cash 50.00 Cash and cash equivalents - restricted 333,205.18 Taxes receivable: Real estate 17,574.28 Personal 12.43 Protested 6,653.48 Special assessments 183,945.62 Other receivables 24,996.90 TOTAL ASSETS 3,089,020.34 Deferred Outflows of Resources LIABILITIES Accounts payable 64,837.87 Other accrued payables 98,670.18 Advances from other funds 172,816.88 TOTAL LIABILITIES 336,324.93 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 208,185.81 Total Deferred Inflows of Resources 208,185.81 FUND BALANCES Unassigned (negative balance only) 2,544,509.60 Total Fund Balances 2,544,509.60 Total Liabilities, Deferred 3,089,020.34 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 77 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 832,500.00 832,500.00 847,068.91 14,568.91 Licenses and permits Alcoholic beverage licenses 0.00 0.00 0.00 0.00 Franchise fees 364,685.00 364,685.00 394,774.98 30,089.98 Building permits 0.00 0.00 0.00 0.00 Other licenses and permits 3,500.00 3,500.00 3,350.00 ( 150.00) 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 149,412.00 149,412.00 149,412.44 0.44 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 1,000.00 1,000.00 1,375.00 375.00 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 10,873.85 5,873.85 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 1,356,097.00 1,356,097.00 1,406,855.18 50,758.18 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 702,372.00 702,372.00 751,933.40 ( 49,561.40) Supplies/services/materials, etc 482,204.00 482,204.00 315,134.42 167,069.58 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 78 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 2110 STREET AND ALLEY Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 681,249.00 681,249.00 221,500.27 459,748.73 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 1,865,825.00 1,865,825.00 1,288,568.09 577,256.91 Excess of revenues over (under) expenditures ( 509,728.00) ( 509,728.00) 118,287.09 628,015.09 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 8,309.92 8,309.92 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 8,309.92 8,309.92 Net change in fund balance ( 509,728.00) ( 509,728.00) 126,597.01 636,325.01 Fund balance - July 1, 2016 - -As previously reported 1,213,953.99 1,213,953.99 1,213,953.99 0.00 Fund balance - July 1, 2016 - As restated 1,213,953.99 1,213,953.99 1,213,953.99 0.00 Fund balance - June 30, 2017 704,225.99 704,225.99 1,340,551.00 636,325.01 City of Whitefish - Annual Financial Report Page 79 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 356,000.00 356,000.00 355,825.26 ( 174.74) Licenses and permits Alcoholic beverage licenses 350.00 350.00 630.00 280.00 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 9,500.00 9,500.00 7,256.78 ( 2,243.22) 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 327,436.00 327,436.00 279,854.36 ( 47,581.64) Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 111,849.00 111,849.00 80,533.45 ( 31,315.55) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 805,135.00 805,135.00 724,099.85 ( 81,035.15) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 44,242.00 44,242.00 37,508.05 6,733.95 Supplies/services/materials, etc 95,072.00 95,072.00 79,227.86 15,844.14 Public Health Social and Economic Services Culture and Recreation Personal services 819,797.00 819,797.00 778,157.88 41,639.12 Supplies/services/materials, etc 512,437.00 512,437.00 466,311.56 46,125.44 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 80 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 2210 PARKS, RECREATION AND COMMUNITY SERVICES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 5,500.00 5,500.00 11,559.00 ( 6,059.00) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 1,477,048.00 1,477,048.00 1,372,764.35 104,283.65 Excess of revenues over (under) expenditures ( 671,913.00) ( 671,913.00) ( 648,664.50) 23,248.50 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 1,350.00 1,350.00 Other financing sources 0.00 0.00 0.00 0.00 Transfers in 672,579.00 672,579.00 672,579.00 0.00 Transfers out 0.00 0.00 0.00 0.00 Total other financing sources (uses) 672,579.00 672,579.00 673,929.00 1,350.00 Net change in fund balance 666.00 666.00 25,264.50 24,598.50 Fund balance - July 1, 2016 - -As previously reported 80,719.46 80,719.46 80,719.46 0.00 Fund balance - July 1, 2016 - As restated 80,719.46 80,719.46 80,719.46 0.00 Fund balance - June 30, 2017 81,385.46 81,385.46 105,983.96 24,598.50 City of Whitefish - Annual Financial Report Page 81 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 2220 LIBRARY FUND Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 149,935.00 149,935.00 149,852.36 ( 82.64) 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 4,898.03 2,498.03 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 11,190.05 ( 1,309.95) Fines and forfeitures Justice court 0.00 0.00 0.00 0.00 Miscellaneous 30,000.00 30,000.00 27,059.17 ( 2,940.83) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 194,835.00 194,835.00 192,999.61 ( 1,835.39) 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 175,767.00 175,767.00 159,439.02 16,327.98 Supplies/services/materials, etc 104,006.00 104,006.00 71,649.51 32,356.49 Housing and Community Development Supplies/services/materials, etc 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 82 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 7,978.63 ( 7,978.63) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 279,773.00 279,773.00 239,067.16 40,705.84 Excess of revenues over (under) expenditures ( 84,938.00) ( 84,938.00) ( 46,067.55) 38,870.45 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 ( 50,567.00) ( 50,567.00) ( 11,696.55) 38,870.45 Fund balance - July 1, 2016 - -As previously reported 111,106.16 111,106.16 111,106.16 0.00 Fund balance - July 1, 2016 - As restated 111,106.16 111,106.16 111,106.16 0.00 Fund balance - June 30, 2017 60,539.16 60,539.16 99,409.61 38,870.45 City of Whitefish - Annual Financial Report Page 83 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 84 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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) Sale of capital assets 0.00 0.00 0.00 0.00 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, 2016 - -As previously reported ( 172,816.88) ( 172,816.88) ( 172,816.88) 0.00 Fund balance - July 1, 2016 - As restated ( 172,816.88) ( 172,816.88) ( 172,816.88) 0.00 Fund balance - June 30, 2017 ( 172,816.88) ( 172,816.88) ( 172,816.88) 0.00 City of Whitefish - Annual Financial Report Page 85 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 480,000.00 480,000.00 384,119.00 ( 95,881.00) 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 75,000.00 75,000.00 64,812.70 ( 10,187.30) 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 1,000.00 142.16 ( 857.84) Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 556,000.00 556,000.00 449,073.86 ( 106,926.14) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 332,840.00 332,840.00 337,630.19 ( 4,790.19) Supplies/services/materials, etc 69,177.00 69,177.00 87,074.18 ( 17,897.18) 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 86 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 0.00 30,000.00 Debt Service Miscellaneous 51,603.00 51,603.00 46,746.16 4,856.84 Total expenditures 483,620.00 483,620.00 471,450.53 12,169.47 Excess of revenues over (under) expenditures 72,380.00 72,380.00 ( 22,376.67) ( 94,756.67) OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 72,380.00 72,380.00 ( 22,376.67) ( 94,756.67) Fund balance - July 1, 2016 - -As previously reported 165,171.46 165,171.46 165,171.46 0.00 Fund balance - July 1, 2016 - As restated 165,171.46 165,171.46 165,171.46 0.00 Fund balance - June 30, 2017 237,551.46 237,551.46 142,794.79 ( 94,756.67) City of Whitefish - Annual Financial Report Page 87 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 207,000.00 207,000.00 232,774.85 25,774.85 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 1,000.00 1,000.00 1,691.86 691.86 Total revenues 208,000.00 208,000.00 234,466.71 26,466.71 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 88 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 2399 IMPACT FEES Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 65,034.00 65,034.00 63,094.87 1,939.13 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 65,034.00 65,034.00 63,094.87 1,939.13 Excess of revenues over (under) expenditures 142,966.00 142,966.00 171,371.84 28,405.84 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 Other financing sources 0.00 0.00 0.00 0.00 Transfers in 0.00 0.00 0.00 0.00 Transfers out ( 391,484.00) ( 391,484.00) ( 391,484.00) 0.00 Total other financing sources (uses) ( 391,484.00) ( 391,484.00) ( 391,484.00) 0.00 Net change in fund balance ( 248,518.00) ( 248,518.00) ( 220,112.16) 28,405.84 Fund balance - July 1, 2016 - -As previously reported 349,790.02 349,790.02 349,790.02 0.00 Fund balance - July 1, 2016 - As restated 349,790.02 349,790.02 349,790.02 0.00 Fund balance - June 30, 2017 101,272.02 101,272.02 129,677.86 28,405.84 City of Whitefish - Annual Financial Report Page 89 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 84,471.00 84,471.00 84,421.35 ( 49.65) 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 2,383.33 2,383.33 Investment and royalty earnings 0.00 0.00 0.00 0.00 Total revenues 84,471.00 84,471.00 86,804.68 2,333.68 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 27,324.00 27,324.00 26,419.36 904.64 Supplies/services/materials, etc 65,470.00 65,470.00 61,576.87 3,893.13 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 90 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 92,794.00 92,794.00 87,996.23 4,797.77 Excess of revenues over (under) expenditures ( 8,323.00) ( 8,323.00) ( 1,191.55) 7,131.45 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 ( 8,323.00) ( 8,323.00) ( 1,191.55) 7,131.45 Fund balance - July 1, 2016 - -As previously reported 36,361.94 36,361.94 36,361.94 0.00 Fund balance - July 1, 2016 - As restated 36,361.94 36,361.94 36,361.94 0.00 Fund balance - June 30, 2017 28,038.94 28,038.94 35,170.39 7,131.45 City of Whitefish - Annual Financial Report Page 91 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 81,421.00 81,421.00 81,030.15 ( 390.85) 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 81,421.00 81,421.00 81,030.15 ( 390.85) 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 27,324.00 27,324.00 26,389.36 934.64 Supplies/services/materials, etc 58,870.00 58,870.00 51,948.57 6,921.43 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 92 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 86,194.00 86,194.00 78,337.93 7,856.07 Excess of revenues over (under) expenditures ( 4,773.00) ( 4,773.00) 2,692.22 7,465.22 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 ( 4,773.00) ( 4,773.00) 2,692.22 7,465.22 Fund balance - July 1, 2016 - -As previously reported 11,019.36 11,019.36 11,019.36 0.00 Fund balance - July 1, 2016 - As restated 11,019.36 11,019.36 11,019.36 0.00 Fund balance - June 30, 2017 6,246.36 6,246.36 13,711.58 7,465.22 City of Whitefish - Annual Financial Report Page 93 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 67,014.26 ( 585.74) 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 9,437.92 2,437.92 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 76,452.18 1,852.18 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 32,767.00 32,767.00 9,407.23 23,359.77 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 94 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 2525 STORM WATER Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 115,000.00 115,000.00 1,185.07 113,814.93 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 147,767.00 147,767.00 10,592.30 137,174.70 Excess of revenues over (under) expenditures ( 73,167.00) ( 73,167.00) 65,859.88 139,026.88 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 ( 73,167.00) ( 73,167.00) 65,859.88 139,026.88 Fund balance - July 1, 2016 - -As previously reported 563,897.15 563,897.15 563,897.15 0.00 Fund balance - July 1, 2016 - As restated 563,897.15 563,897.15 563,897.15 0.00 Fund balance - June 30, 2017 490,730.15 490,730.15 629,757.03 139,026.88 City of Whitefish - Annual Financial Report Page 95 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 7,670.00 ( 7,330.00) 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 7,670.00 ( 7,330.00) EXPENDITURES Current: General Government Supplies/services/materials, etc 15,000.00 15,000.00 7,180.00 7,820.00 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 96 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 7,180.00 7,820.00 Excess of revenues over (under) expenditures 0.00 0.00 490.00 490.00 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 0.00 490.00 490.00 Fund balance - July 1, 2016 - -As previously reported 253.00 253.00 253.00 0.00 Fund balance - July 1, 2016 - As restated 253.00 253.00 253.00 0.00 Fund balance - June 30, 2017 253.00 253.00 743.00 490.00 City of Whitefish - Annual Financial Report Page 97 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 98 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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) Sale of capital assets 0.00 0.00 0.00 0.00 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, 2016 - -As previously reported 0.00 0.00 0.00 0.00 Fund balance - July 1, 2016 - As restated 0.00 0.00 0.00 0.00 Fund balance - June 30, 2017 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 99 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 2,396.00 ( 5,104.00) Total revenues 27,500.00 27,500.00 2,396.00 ( 25,104.00) EXPENDITURES Current: General Government Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Safety Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Works Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Public Health Social and Economic Services Culture and Recreation Personal services 0.00 0.00 0.00 0.00 Supplies/services/materials, etc 0.00 0.00 0.00 0.00 Housing and Community Development Supplies/services/materials, etc 28,473.00 28,473.00 0.00 28,473.00 City of Whitefish - Annual Financial Report Page 100 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 28,473.00 28,473.00 0.00 28,473.00 Excess of revenues over (under) expenditures ( 973.00) ( 973.00) 2,396.00 3,369.00 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 ( 973.00) ( 973.00) 2,396.00 3,369.00 Fund balance - July 1, 2016 - -As previously reported 973.27 973.27 973.27 0.00 Fund balance - July 1, 2016 - As restated 973.27 973.27 973.27 0.00 Fund balance - June 30, 2017 0.27 0.27 3,369.27 3,369.00 City of Whitefish - Annual Financial Report Page 101 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 102 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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) Sale of capital assets 0.00 0.00 0.00 0.00 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, 2016 - -As previously reported 1,000.00 1,000.00 1,000.00 0.00 Fund balance - July 1, 2016 - As restated 1,000.00 1,000.00 1,000.00 0.00 Fund balance - June 30, 2017 0.00 0.00 1,000.00 1,000.00 City of Whitefish - Annual Financial Report Page 103 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 300.00 300.00 115.15 ( 184.85) Total revenues 300.00 300.00 115.15 ( 184.85) 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 104 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 2990 PARKLAND AQUISITION & DEVELOPMENT Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 38,226.00 38,226.00 54,913.27 ( 16,687.27) Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 38,226.00 38,226.00 54,913.27 ( 16,687.27) Excess of revenues over (under) expenditures ( 37,926.00) ( 37,926.00) ( 54,798.12) ( 16,872.12) OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 Other financing sources 2,000.00 2,000.00 59,237.00 57,237.00 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) 2,000.00 2,000.00 59,237.00 57,237.00 Net change in fund balance ( 35,926.00) ( 35,926.00) 4,438.88 40,364.88 Fund balance - July 1, 2016 - -As previously reported 45,456.92 45,456.92 45,456.92 0.00 Fund balance - July 1, 2016 - As restated 45,456.92 45,456.92 45,456.92 0.00 Fund balance - June 30, 2017 9,530.92 9,530.92 49,895.80 40,364.88 City of Whitefish - Annual Financial Report Page 105 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 400.00 400.00 828.67 428.67 Total revenues 400.00 400.00 828.67 428.67 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 106 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 142,637.00 142,637.00 0.00 142,637.00 Debt Service Miscellaneous 0.00 0.00 0.00 0.00 Total expenditures 142,637.00 142,637.00 0.00 142,637.00 Excess of revenues over (under) expenditures ( 142,237.00) ( 142,237.00) 828.67 143,065.67 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 Other financing sources 0.00 0.00 11,756.10 11,756.10 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 11,756.10 11,756.10 Net change in fund balance ( 142,237.00) ( 142,237.00) 12,584.77 154,821.77 Fund balance - July 1, 2016 - -As previously reported 142,177.42 142,177.42 142,177.42 0.00 Fund balance - July 1, 2016 - As restated 142,177.42 142,177.42 142,177.42 0.00 Fund balance - June 30, 2017 ( 59.58) ( 59.58) 154,762.19 154,821.77 City of Whitefish - Annual Financial Report Page 107 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 10,500.00 10,500.00 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 10,500.00 10,500.00 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 108 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 0.00 0.00 0.00 0.00 Excess of revenues over (under) expenditures 0.00 0.00 10,500.00 10,500.00 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 0.00 0.00 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 10,500.00 10,500.00 Fund balance - July 1, 2016 - -As previously reported 0.00 0.00 0.00 0.00 Fund balance - July 1, 2016 - As restated 0.00 0.00 0.00 0.00 Fund balance - June 30, 2017 0.00 0.00 10,500.00 10,500.00 City of Whitefish - Annual Financial Report Page 109 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Property Taxes 149,935.00 149,935.00 149,852.36 ( 82.64) Special assessments 1,421,992.00 1,421,992.00 1,435,359.93 13,367.93 Licenses and permits Alcoholic beverage licenses 350.00 350.00 630.00 280.00 Franchise fees 364,685.00 364,685.00 394,774.98 30,089.98 Building permits 480,000.00 480,000.00 384,119.00 ( 95,881.00) Other licenses and permits 3,500.00 3,500.00 3,350.00 ( 150.00) Intergovernmental revenue (See supplemental section for detail) Federal grants 400,000.00 400,000.00 0.00 ( 400,000.00) State grants 11,900.00 11,900.00 12,154.81 254.81 State shared revenues 149,412.00 149,412.00 149,412.44 0.44 Charges for services General government 207,000.00 207,000.00 232,774.85 25,774.85 Public safety 75,000.00 75,000.00 64,812.70 ( 10,187.30) Public works 8,000.00 8,000.00 21,312.92 13,312.92 Culture and recreation 339,936.00 339,936.00 291,044.41 ( 48,891.59) Fines and forfeitures Justice court 15,000.00 15,000.00 7,670.00 ( 7,330.00) Miscellaneous 267,849.00 267,849.00 120,991.96 ( 146,857.04) Investment and royalty earnings 9,200.00 9,200.00 5,031.68 ( 4,168.32) Total revenues 3,903,759.00 3,903,759.00 3,273,292.04 ( 630,466.96) EXPENDITURES Current: General Government Supplies/services/materials, etc 15,000.00 15,000.00 7,180.00 7,820.00 Public Safety Personal services 332,840.00 332,840.00 337,630.19 ( 4,790.19) Supplies/services/materials, etc 69,177.00 69,177.00 87,074.18 ( 17,897.18) Public Works Personal services 801,262.00 801,262.00 842,250.17 ( 40,988.17) Supplies/services/materials, etc 734,383.00 734,383.00 517,294.95 217,088.05 Public Health Social and Economic Services Culture and Recreation Personal services 995,564.00 995,564.00 937,596.90 57,967.10 Supplies/services/materials, etc 616,443.00 616,443.00 537,961.07 78,481.93 Housing and Community Development Supplies/services/materials, etc 529,473.00 529,473.00 0.00 529,473.00 City of Whitefish - Annual Financial Report Page 110 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Conservation of Natural Resources Capital expenditures 1,077,646.00 1,077,646.00 360,231.11 717,414.89 Debt Service Miscellaneous 51,603.00 51,603.00 46,746.16 4,856.84 Total expenditures 5,223,391.00 5,223,391.00 3,673,964.73 1,549,426.27 Excess of revenues over (under) expenditures ( 1,319,632.00) ( 1,319,632.00) ( 400,672.69) 918,959.31 OTHER FINANCING SOURCES (USES) Sale of capital assets 0.00 0.00 9,659.92 9,659.92 Other financing sources 2,000.00 2,000.00 70,993.10 68,993.10 Transfers in 706,950.00 706,950.00 706,950.00 0.00 Transfers out ( 391,484.00) ( 391,484.00) ( 391,484.00) 0.00 Total other financing sources (uses) 317,466.00 317,466.00 396,119.02 78,653.02 Net change in fund balance ( 1,002,166.00) ( 1,002,166.00) ( 4,553.67) 997,612.33 Fund balance - July 1, 2016 - -As previously reported 2,549,063.27 2,549,063.27 2,549,063.27 0.00 Fund balance - July 1, 2016 - As restated 2,549,063.27 2,549,063.27 2,549,063.27 0.00 Fund balance - June 30, 2017 1,546,897.27 1,546,897.27 2,544,509.60 997,612.33 City of Whitefish - Annual Financial Report Page 111 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 1 of 1 51. COMBINING BALANCE SHEET - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2017 3400 3545 3550 Total Nonmajor SID REVOLVING (SID SID 166 BOND DEBT SID 167 BOND DEBT Debt Service Funds ASSETS Cash and cash equivalents 168,079.09 20,411.03 0.00 188,490.12 Taxes receivable: Special assessments 0.00 764,694.43 1,242,178.76 2,006,873.19 Advances to other funds 58,698.47 0.00 0.00 58,698.47 TOTAL ASSETS 226,777.56 785,105.46 1,242,178.76 2,254,061.78 Deferred Outflows of Resources LIABILITIES Advances from other funds 0.00 58,698.47 0.00 58,698.47 TOTAL LIABILITIES 0.00 58,698.47 0.00 58,698.47 Deferred Inflows of Resources Deferred Inflows of Tax Revenues 0.00 764,694.43 1,242,178.76 2,006,873.19 Total Deferred Inflows of Resources 0.00 764,694.43 1,242,178.76 2,006,873.19 FUND BALANCES Unassigned (negative balance only) 226,777.56 ( 38,287.44) 0.00 188,490.12 Total Fund Balances 226,777.56 ( 38,287.44) 0.00 188,490.12 Total Liabilities, Deferred 226,777.56 785,105.46 1,242,178.76 2,254,061.78 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 112 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 1 of 6 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2017 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 0.00 0.00 844.83 844.83 Total revenues 0.00 0.00 844.83 844.83 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 0.00 0.00 844.83 844.83 OTHER FINANCING SOURCES (USES) Bonds issued 44,000.00 44,000.00 38,950.00 ( 5,050.00) Total other financing sources (uses) 44,000.00 44,000.00 38,950.00 ( 5,050.00) Net change in fund balance 44,000.00 44,000.00 39,794.83 ( 4,205.17) Fund balance - July 1, 2016 - -As previously reported 186,982.73 186,982.73 186,982.73 0.00 Fund balance - July 1, 2016 - As restated 186,982.73 186,982.73 186,982.73 0.00 City of Whitefish - Annual Financial Report Page 113 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 2 of 6 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2017 3400 SID REVOLVING (SID Bond Collateral) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Fund balance - June 30, 2017 230,982.73 230,982.73 226,777.56 ( 4,205.17) City of Whitefish - Annual Financial Report Page 114 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 3 of 6 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2017 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 107,500.00 107,500.00 113,323.16 5,823.16 Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 50.00 50.00 284.58 234.58 Total revenues 107,550.00 107,550.00 113,607.74 6,057.74 EXPENDITURES Current: General Government Public Safety Public Works Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Debt Service Principal 70,000.00 70,000.00 70,000.00 0.00 Interest 30,498.00 30,498.00 30,497.50 0.50 Costs and fees 350.00 350.00 350.00 0.00 Total expenditures 100,848.00 100,848.00 100,847.50 0.50 Excess of revenues over (under) expenditures 6,702.00 6,702.00 12,760.24 6,058.24 OTHER FINANCING SOURCES (USES) Bonds issued 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 6,702.00 6,702.00 12,760.24 6,058.24 Fund balance - July 1, 2016 - -As previously reported ( 51,047.68) ( 51,047.68) ( 51,047.68) 0.00 Fund balance - July 1, 2016 - As restated ( 51,047.68) ( 51,047.68) ( 51,047.68) 0.00 City of Whitefish - Annual Financial Report Page 115 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 4 of 6 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2017 3545 SID 166 BOND DEBT (J.P. Road Project) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Fund balance - June 30, 2017 ( 44,345.68) ( 44,345.68) ( 38,287.44) 6,058.24 City of Whitefish - Annual Financial Report Page 116 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 5 of 6 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2017 3550 SID 167 BOND DEBT (Parking Structure Project) 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 0.00 0.00 0.00 0.00 Total revenues 0.00 0.00 0.00 0.00 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 0.00 0.00 0.00 0.00 OTHER FINANCING SOURCES (USES) Bonds issued 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, 2016 - -As previously reported 0.00 0.00 0.00 0.00 Fund balance - July 1, 2016 - As restated 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 117 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 6 of 6 53. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR DEBT SERVICE FUNDS For the year ending June 30, 2017 3550 SID 167 BOND DEBT (Parking Structure Project) Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Fund balance - June 30, 2017 0.00 0.00 0.00 0.00 City of Whitefish - Annual Financial Report Page 118 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) REVENUES Taxes Special assessments 107,500.00 107,500.00 113,323.16 5,823.16 Licenses and permits Intergovernmental revenue (See supplemental section for detail) Charges for services Fines and forfeitures Investment and royalty earnings 50.00 50.00 1,129.41 1,079.41 Total revenues 107,550.00 107,550.00 114,452.57 6,902.57 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 30,498.00 30,498.00 30,497.50 0.50 Costs and fees 350.00 350.00 350.00 0.00 Total expenditures 100,848.00 100,848.00 100,847.50 0.50 Excess of revenues over (under) expenditures 6,702.00 6,702.00 13,605.07 6,903.07 OTHER FINANCING SOURCES (USES) Bonds issued 44,000.00 44,000.00 38,950.00 ( 5,050.00) Total other financing sources (uses) 44,000.00 44,000.00 38,950.00 ( 5,050.00) Net change in fund balance 50,702.00 50,702.00 52,555.07 1,853.07 Fund balance - July 1, 2016 - -As previously reported 135,935.05 135,935.05 135,935.05 0.00 Fund balance - July 1, 2016 - As restated 135,935.05 135,935.05 135,935.05 0.00 City of Whitefish - Annual Financial Report Page 119 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 2 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, 2017 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) Fund balance - June 30, 2017 186,637.05 186,637.05 188,490.12 1,853.07 City of Whitefish - Annual Financial Report Page 120 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 1 of 1 55. COMBINING BALANCE SHEET - NONMAJOR CAPITAL PROJECT FUNDS For the year ending June 30, 2017 4540 Total Nonmajor WF Trail Construct Cap. Proj. Funds ASSETS Taxes receivable: Other receivables 631.52 631.52 TOTAL ASSETS 631.52 631.52 Deferred Outflows of Resources LIABILITIES Accounts payable 700.00 700.00 Due to other funds 631.52 631.52 TOTAL LIABILITIES 1,331.52 1,331.52 Deferred Inflows of Resources FUND BALANCES Unassigned (negative balance only) ( 700.00) ( 700.00) Total Fund Balances ( 700.00) ( 700.00) Total Liabilities, Deferred 631.52 631.52 inflows of resources and Fund Balances City of Whitefish - Annual Financial Report Page 121 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 1 of 2 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2017 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 15,000.00 15,000.00 0.00 ( 15,000.00) Charges for services Culture and recreation charges 60,000.00 60,000.00 27,761.00 ( 32,239.00) Fines and forfeitures Miscellaneous Investment and royalty earnings 0.00 0.00 5.91 5.91 Total revenues 75,000.00 75,000.00 27,766.91 ( 47,233.09) EXPENDITURES Current: General Government Public Safety Public Works Supplies/services/materials, etc 56,000.00 56,000.00 0.00 56,000.00 Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Capital expenditures 19,000.00 19,000.00 25,973.08 ( 6,973.08) Debt Service Total expenditures 75,000.00 75,000.00 25,973.08 49,026.92 Excess of revenues over (under) expenditures 0.00 0.00 1,793.83 1,793.83 OTHER FINANCING SOURCES (USES) Net change in fund balance 0.00 0.00 1,793.83 1,793.83 Fund balance - July 1, 2016 - -As previously reported ( 2,493.83) ( 2,493.83) ( 2,493.83) 0.00 Fund balance - July 1, 2016 - As restated ( 2,493.83) ( 2,493.83) ( 2,493.83) 0.00 Fund balance - June 30, 2017 ( 2,493.83) ( 2,493.83) ( 700.00) 1,793.83 City of Whitefish - Annual Financial Report Page 122 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 2 of 2 57. COMBINING STMT OF REV, EXPEND, & CHANGES IN FUND BALANCES - BUDGET & ACTUAL - NONMAJOR CAPITAL PROJECTS FUNDS For the year ending June 30, 2017 4540 WF Trail Construction Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) City of Whitefish - Annual Financial Report Page 123 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 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 15,000.00 15,000.00 0.00 ( 15,000.00) Charges for services Culture and recreation charges 60,000.00 60,000.00 27,761.00 ( 32,239.00) Fines and forfeitures Miscellaneous Investment and royalty earnings 0.00 0.00 5.91 5.91 Total revenues 75,000.00 75,000.00 27,766.91 ( 47,233.09) EXPENDITURES Current: General Government Public Safety Public Works Supplies/services/materials, etc 56,000.00 56,000.00 0.00 56,000.00 Public Health Social and Economic Services Culture and Recreation Housing and Community Development Conservation of Natural Resources Capital expenditures 19,000.00 19,000.00 25,973.08 ( 6,973.08) Debt Service Total expenditures 75,000.00 75,000.00 25,973.08 49,026.92 Excess of revenues over (under) expenditures 0.00 0.00 1,793.83 1,793.83 OTHER FINANCING SOURCES (USES) Net change in fund balance 0.00 0.00 1,793.83 1,793.83 Fund balance - July 1, 2016 - -As previously reported ( 2,493.83) ( 2,493.83) ( 2,493.83) 0.00 Fund balance - July 1, 2016 - As restated ( 2,493.83) ( 2,493.83) ( 2,493.83) 0.00 Fund balance - June 30, 2017 ( 2,493.83) ( 2,493.83) ( 700.00) 1,793.83 City of Whitefish - Annual Financial Report Page 124 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 Original Final Actual Variance with Budget Budget Amounts Final Budget Positive (Neg) City of Whitefish - Annual Financial Report Page 125 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 1 of 2 63. COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS For the year ending June 30, 2017 5410 Total Nonmajor SOLID WASTE Enterprise ASSETS Current Assets Cash and cash equivalents 131,735.81 131,735.81 Total Current Assets 131,735.81 131,735.81 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 131,735.81 131,735.81 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 441.62 441.62 Total Current Liabilites 441.62 441.62 Noncurrent Liabilities Compensated absences 472.59 472.59 Other noncurrent liabilities 74,374.02 74,374.02 Total Noncurrent Liabilities 74,846.61 74,846.61 Total Liabilities 75,288.23 75,288.23 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 126 of 135 ---PAGE BREAK--- 12/27/17 CITY OF WHITEFISH Page: 2 of 2 63. COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS For the year ending June 30, 2017 5410 Total Nonmajor SOLID WASTE Enterprise NET POSITION Restricted for: Unrestricted 57,309.49 57,309.49 Total Net Position 57,309.49 57,309.49 City of Whitefish - Annual Financial Report Page 127 of 135 ---PAGE BREAK--- 12/27/17 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, 2017 5410 Total Nonmajor SOLID WASTE Enterprise OPERATING REVENUES OPERATING EXPENSES Personal services 5,151.43 5,151.43 Supplies 227.88 227.88 Purchased services 10,016.96 10,016.96 Fixed charges 925.60 925.60 Total Operating Expenses 16,321.87 16,321.87 Operating Income (Loss) ( 16,321.87) ( 16,321.87) NONOPERATING REVENUES (EXPENSES) Interest and royalty revenue 787.36 787.36 Other nonoperating expense ( 198.26) ( 198.26) Total Nonoperating Rev(Exp) 589.10 589.10 Income (Loss) before contributions/transfers ( 15,732.77) ( 15,732.77) Change in net position ( 15,732.77) ( 15,732.77) Total net position - July 1, 2016 69,750.95 69,750.95 Prior period adjustments 3,291.31 3,291.31 Total net position - July 1, 2016 as restated 73,042.26 73,042.26 Total net position - June 30, 2017 57,309.49 57,309.49 City of Whitefish - Annual Financial Report Page 128 of 135 ---PAGE BREAK--- 12/28/17 CITY OF WHITEFISH Page: 1 of 1 09:06:33 Account Query Report ID: L099 For the Accounting Periods: 7/16 - 6/17 Accounts 331000-331999 Opening Closing Account Object Fund Balance Change Balance 330000 Intergovernmental Revenues 331000 Federal Grants 2300 LAW ENFORCEMENT 0.00 3,315.11 3,315.11 Account Total: 0.00 3,315.11 3,315.11 Account Group Total: 0.00 3,315.11 3,315.11 Grand Total: 0.00 3,315.11 3,315.11 City of Whitefish - Annual Financial Report Page 129 of 135 ---PAGE BREAK--- 12/28/17 CITY OF WHITEFISH Page: 1 of 1 09:07:29 Account Query Report ID: L099 For the Accounting Periods: 7/16 - 6/17 Accounts 336000-339999 Opening Closing Account Object Fund Balance Change Balance 330000 Intergovernmental Revenues 337014 Drug Task Force Grant 2300 LAW ENFORCEMENT 0.00 87,203.56 87,203.56 Account Total: 0.00 87,203.56 87,203.56 337015 COPS Hiring Grant 2300 LAW ENFORCEMENT 0.00 34,580.69 34,580.69 Account Total: 0.00 34,580.69 34,580.69 337018 Dept of Justice Grant 2300 LAW ENFORCEMENT 0.00 44,199.98 44,199.98 Account Total: 0.00 44,199.98 44,199.98 337019 School District 44 Reimbursement SRO 2300 LAW ENFORCEMENT 0.00 30,064.43 30,064.43 Account Total: 0.00 30,064.43 30,064.43 338050 Portion of Countywide Ambulance Assessment 2340 FIRE AND AMBULANCE 0.00 43,204.00 43,204.00 Account Total: 0.00 43,204.00 43,204.00 Account Group Total: 0.00 239,252.66 239,252.66 Grand Total: 0.00 239,252.66 239,252.66 City of Whitefish - Annual Financial Report Page 130 of 135 ---PAGE BREAK--- 12/28/17 CITY OF WHITEFISH Page: 1 of 1 09:08:26 Account Query Report ID: L099 For the Accounting Periods: 7/16 - 6/17 Accounts 334000-334999 Opening Closing Account Object Fund Balance Change Balance 330000 Intergovernmental Revenues 334000 State Grants 2210 PARKS, RECREATION AND COMMUNITY SERVICES 0.00 3,756.78 3,756.78 Account Total: 0.00 3,756.78 3,756.78 334002 FWP Fishing Lease - WF Trail 2210 PARKS, RECREATION AND COMMUNITY SERVICES 0.00 3,500.00 3,500.00 Account Total: 0.00 3,500.00 3,500.00 334091 Overtime Reimbursement from DOT 2300 LAW ENFORCEMENT 0.00 11,670.88 11,670.88 Account Total: 0.00 11,670.88 11,670.88 334100 Library State Aid 2220 LIBRARY FUND 0.00 4,898.03 4,898.03 Account Total: 0.00 4,898.03 4,898.03 334120 Treasure State Endowment Program 5310 WASTEWATER 0.00 276,016.34 276,016.34 Account Total: 0.00 276,016.34 276,016.34 334121 DNRC Grants 5310 WASTEWATER 0.00 60,069.61 60,069.61 Account Total: 0.00 60,069.61 60,069.61 Account Group Total: 0.00 359,911.64 359,911.64 Grand Total: 0.00 359,911.64 359,911.64 City of Whitefish - Annual Financial Report Page 131 of 135 ---PAGE BREAK--- 12/28/17 CITY OF WHITEFISH Page: 1 of 1 09:09:32 Account Query Report ID: L099 For the Accounting Periods: 7/16 - 6/17 Accounts 335000-335999 Opening Closing Account Object Fund Balance Change Balance 330000 Intergovernmental Revenues 335035 State Auditor's Annual Payment 7120 VOLUNTEER FIRE PENSION & RELIEF 0.00 45,642.00 45,642.00 Account Total: 0.00 45,642.00 45,642.00 335040 Gasoline Tax Apportionment 2110 STREET AND ALLEY 0.00 149,412.44 149,412.44 Account Total: 0.00 149,412.44 149,412.44 335110 Live Card Game Table Permit 1000 GENERAL 0.00 850.00 850.00 Account Total: 0.00 850.00 850.00 335120 Gambling Machine Permits 1000 GENERAL 0.00 19,200.00 19,200.00 Account Total: 0.00 19,200.00 19,200.00 335230 State Entitlement Share 1000 GENERAL 0.00 837,603.44 837,603.44 2310 TAX INCREMENT 0.00 248,865.00 248,865.00 Account Total: 0.00 1,086,468.44 1,086,468.44 Account Group Total: 0.00 1,301,572.88 1,301,572.88 Grand Total: 0.00 1,301,572.88 1,301,572.88 City of Whitefish - Annual Financial Report Page 132 of 135 ---PAGE BREAK--- Glacier DDA 9,717,881 $ First Int - MMA 388,198 $ STIP $ 10,163,624 Petty Cash 700 $ First Int - CD 1,009,033 $ Glacier - CD 1,170,731 $ Total 22,450,166 $ Deposits in Transit 44,088 $ Outstanding Checks (payroll) (3,512) $ Adjusted Bank Balance 22,490,743 $ Balance per Books 22,490,743 $ Difference - $ ALL FUNDS CASH RECONCILIATION FISAL YEAR ENDING JUNE 30, 2017 City of Whitefish - Annual Financial Report Page 133 of 135 ---PAGE BREAK--- GENERAL SECTION INFORMATION City of Whitefish - Annual Financial Report Page 134 of 135 ---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 30,471,121 9. Road taxable valuation (county) N/A 10. Number of water consumers 3751 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 221 15. Number of full-time employees 99.6 PROPERTY TAX MILL LEVIES - Fund/activity Mills 1000 General 120.780 Resort Tax Rebate -53.781 Permissive Medical Levy 19.420 2220 Library 6.820 2340 Fire & Ambulance Voted Levy 24.000 7120 Fire Pension 2.000 TOTAL 119.239 City of Whitefish - Annual Financial Report Page 135 of 135