HomeMy WebLinkAbout2009 ACFR COMPREHENSIVE ANNUAL FINANCIAL REPORT
OF THE
CITY OF PASCO, WASHINGTON
FOR THE FISCAL YEAR ENDED
DECEMBER 31, 2009
CITY OF
L qqqppl I
Prepared by
Administrative and Community Services Department
Rick G. Terway, Director
Finance Division
Stephanie Brock, Interim Financial Services Manager
City of Pasco, `tiVashington 200.9 Comprehensive .annual Tinancial Report
TABLE OF CONTENTS
INTRODUCTORY SECTION
Letterof Transmittal ............................................................................................ 1
Directory of City Officials..................................................................................... 6
Directory of Management Team.............................................................................. 7
OrganizationalChart ........................................................................................... 8
FINANCIAL SECTION
Independent Auditor's Report on Financial Statements ................................................... 9
Management's Discussion and Analysis .................................................................... 11
Basic Financial Statements
Government Wide Financial Statements
Statement of Net Assets—Governmental and Business-Type Activities.................................... 26
Statement of Activities—Governmental and Business-Type Activities...................................... 27
Fund Financial Statements
Balance Sheet—Governmental Funds......................................................................................... 28
Statement of Revenues, Expenses and Changes in Fund Balances—Governmental Funds...... 29
Reconciliation of the Statement of Revenues, Expenses and Changes in
Fund Balances to the Statement of Activities—Governmental Funds ............................ 30
Statement of Net Assets—Proprietary Fund ............................................................................... 31
Statement of Revenues, Expenses and Changes in Net Assets—Proprietary Funds .............. 33
Statement of Revenues, Expenses and Changes in Net Assets Detail .............................. 34
Statement of Cash Flows—Proprietary Fund .......................................................... 35
Statement of Net Assets—Fiduciary Funds ............................................................ 37
Statement of Changes in Fiduciary Net Assets ........................................................ 38
Notes to Financial Statements ............................................................................ 39
Required Supplemental Information
Combining and Individual Fund Statements and Schedules
Schedule of Operations—Budget to Actual—General Fund ........................................ 76
Schedule of Operations—Budget to Actual—Water/Sewer Fund ................................... 77
Combining Balance Sheet—Non-major Governmental Funds ...................................... 78
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances—Non-major Governmental Funds......................................................... 87
Combining Statement of Revenues, Expenses and Changes in Fund
Balances—Other Governmental Funds................................................................ 95
Statement of Revenues, Expenses and Changes in Fund Balances - Budget to
Actual Comparison—Non-major Special Revenue Governmental Funds .......................... 96
Combining Statement of Net Assets—Internal Service Funds....................................... 118
Combining Statement of Revenues, Expenditures, and Changes in Fund Net
Assets—Internal Service Funds......................................................................... 120
Combining Statement of Cash Flows—Internal Service Funds.................................................. 122
Cit3i of Pasco, Washington 2009 Comprehensive .annual T nancial Report
TABLE OF CONTENTS (cont.)
Additional Information
Schedule 8 -Real and Personal Property Taxes ............................................................. 125
Schedule 9 -Long-Term Debt- L.I.D. Assessments & General Obligations and Revenue ........... 127
Schedule 10 -Computation of Legal Debt Margin.......................................................... 130
Schedule 12 -Operation of Investments - All Funds ....................................................... 131
Schedule 13 -Cash and Investments .......................................................................... 132
Schedule 14 -Short Term Interest Bearing Debt............................................................ 132
Schedule 15 -Contributions for Employee Benefits ........................................................ 132
Schedule 16 -Expenditures of Federal Awards & State and Local Financial Assistance.............. 133
Notes to Schedule of Expenditures of Federal Awards & State and Local Financial Assistance..... 135
Schedule 19 -Labor Relations Consultants.................................................................. 136
STATISTICAL SECTION
Table 1 Net Assets by Component ............................................................................................... 139
Table 2 Changes in Net Assets ..................................................................................................... 140
Table 3 Fund Balances, Governmental Funds.............................................................................. 142
Table 4 Changes in Fund Balances, Governmental Funds ........................................................... 143
Table 5 Assessed and Actual Value of Taxable Property............................................................. 144
Table 6 Direct and Overlapping Property Tax Rates.................................................................... 145
Table 7 Property Tax Levies and Collections............................................................................... 146
Table 8 Top 10 Property Tax Payers............................................................................................. 147
Table 9 Top 10 Industries Generating Sales Taxes....................................................................... 147
Table 10 Ratios of Outstanding Debt by Type ............................................................................... 148
Table 11 Ratio of General Bonded Debt Outstanding.................................................................... 149
Table 12 Computation of Legal Debt Margin................................................................................. 150
Table 13 Pledged Revenue Coverage ............................................................................................. 151
Table 14 Special Assessments Collections..................................................................................... 152
Table 15 Demographic Statistics .................................................................................................... 153
Table 16 Construction, Bank Deposits and Property Value ........................................................... 154
Acknowledgements ............................................................................................. 155
City of Pasco, 'Washington 20o9 Comprehensive AnnuaCFinancia.CReport
DATE TO BE ADDED
Honorable Mayor and Members of the City Council
City of Pasco, Washington
We are pleased to submit the Comprehensive Annual Financial Report (CAFR) of the City of
Pasco for the year ended December 31, 2009. The report was prepared by the Administrative
and Community Services Department, which assumes full responsibility for both the accuracy of
the presented data and the completeness and fairness of the presentation, including all
disclosures. We believe the data, as presented, is accurate in all material aspects; that it is
presented in a manner designed to fairly set forth the financial position and results of operations
of the City as measured by the financial activity of its various funds; and all disclosures
necessary to enable the reader to gain the maximum understanding of the City's financial affairs
have been included.
This CAFR has been prepared to comply with the current standards for governmental accounting
set forth by the Governmental Accounting Standards Board (GASB) and its predecessor, the
National Council on Governmental Accounting (NCGA), the recognized authorities on generally
accepted accounting principles applicable to governmental accounting.
THE REPORT FORMAT
The CAFR is presented in three sections: introduction, financial, and statistical.
1. Introductory Section - This section introduces the reader to the report, and includes the
transmittal letter, the City Organization Chart and a list of City officials.
2. Financial Section—This section includes the Management Discussion and Analysis,
Government-wide Financial Statements, Fund Financial Statements,Notes to the
Financial Statements and Other Required Supplemental Information.
3. Statistical Section — This section presents some non-accounting data, with comparisons
covering more than two fiscal years, and is designed to reflect social and economic data,
financial trends and fiscal capacity of the City. Although this section contains substantial
financial information, these tables may differ from the financial statements.
This report includes all funds and agencies that are controlled by, or dependent on, the city's
administrative and legislative authority.
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City of Pasco, 'Washing ton 200.9 Comprehensive AnnuafTinanciaCAeport
THE REPORTING ENTITY AND ITS SERVICES
The City of Pasco is located in south central Washington (Franklin County) in the Mid-Columbia
region of the Pacific Northwest. The City encompasses approximately 34 square miles. Pasco
serves as the Franklin County seat and is the largest city in the County. Pasco and the
neighboring cities of Richland and Kennewick, which are located in Benton County, make up the
Tri-Cities Metropolitan Area, the fourth largest urban area in Washington State. The 2000
census population of Pasco was 32,066, while the Tri-Cities Metropolitan Area population was
approximately 186,600. The 2009 Tri-Cities Metropolitan Area population was approximately
235,700 and Pasco's estimated population was 58,647. This represents an 83% growth rate in
Pasco's population since the 2000 census.
Initially established in 1884, the City was incorporated in 1891, and has operated under the State
laws applicable to a code city with a Council/Manager form of government since May 5, 1964.
The City Manager is appointed by the City Council and is responsible to the City Council for the
proper administration of all City operations. Council members are elected for four year
overlapping terms through citywide elections. The City Council is comprised of seven members,
one of which is selected by the members to serve as Mayor for a two-year term. Council
members are part-time elected officials who exercise legislative authority and determine matters
of policy for the City.
The City is a general-purpose government and provides the full range of municipal services
authorized by State law. These services include police and fire protection, ambulance service,
parks and recreation activities, street maintenance and construction, planning and zoning and
general administrative services. The City owns and operates a water/sewer system and a
cemetery. The City also owns a championship golf course and a baseball stadium that are leased
to independent operators.
SUMMARY OF PAST ECONOMIC DEVELOPMENT
The City's economy is directly based on agriculture and related food processing and
transportation. Farmland comprises the majority of the County's land area. The County has
estimated total farm acreage of 492,000, comprised of 242,000 irrigated acres and 250,000 dry
land acres. Portions of the County lie within one of the world's largest irrigation districts, the
U.S. Bureau of Reclamation's Columbia Basin Irrigation Project. In the early 1940's Congress
authorized a plan to provide for irrigation of over 1 million acres in the Columbia Basin region
of Washington State. Construction of the Irrigation Project began in 1946. The Grand Coulee
Dam is the only source of both water and hydroelectric power for the Project.
With the growth in farm production due to the Irrigation Project, food processing has become a
major factor in the area's economy. The Pasco Processing Center (the "Center"), a 240-acre
industrial park designed for the food processing industry, was constructed in 1995. The Center
provides food processors the unique advantage of handling wastewater disposal via the City's
industrial wastewater system, which has additional capacity for growth. The Center was
developed jointly by the City, Port of Pasco and Franklin County Public Utility District. This
system pumps the wastewater into huge storage ponds, which is sprayed onto crops for disposal.
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City of Pasco, 'Washington 2000 Comprehensive AnnuaCFinanciaCReport
These storage ponds allow processors to operate year round. Since completion, several large
food processors have built plants that utilize this facility. J.R. Simplot Food Group (now known
as Pasco Processing LLC) opened a $32 million frozen vegetable processing plant at the Center
in 1995 employing 250 full time employees with 500 more during peak seasons. Americold
constructed an $8 million freezing facility that employs 100 full time workers. Twin City Foods
completed construction on its $20 million frozen corn processing plant at the Center in 1998 and
employs approximately 100 full time workers with 200 more during peak seasons. Reser's Fine
Foods completed construction of a $15 million fresh potato products plant in 1998 that employs
between 75 and 100 full time workers. Bybee Fresh Foods completed construction of a $12
million processing plant in 2006 and relocated its Yakima Valley operations. In 2009, Syngenta
completed construction of a $42 million seed processing facility to serve its global markets. The
other major food processor in the area, Lamb Weston, operates a French fry processing plant just
north of the City limits employing about 700 workers.
The major reason for the rapid growth of the Tri-Cities in the 1970's was the expansion of the
Hanford Nuclear Reservation, which has evolved into one of the largest nuclear industrial centers
in the United States. Located in Benton County, the Hanford Reservation encompasses
approximately 560 square miles and contains various nuclear and nuclear-related projects,
serving as a national energy resource center. Today, the focus is on energy research,
environmental remediation/waste management and related technology. A 40-year Tri-Party
Agreement was signed by the U.S. Department of Energy, the State and the U.S. Environmental
Protection Agency, which established a plan to "cleanup" the environment of the Hanford
Reservation. The overall plan is intended to improve radioactive and chemical waste disposal
and to manage future waste generated at the site.
The commitment to tourism as a means of economic diversification has been a combined effort
of the public and private sectors. In 1994, a professional minor league baseball stadium was
built. The stadium seats 4,000 and includes a parking lot for 1,000 automobiles. The stadium is
currently leased to Northwest Baseball Ventures 1, LLC, owners of the Tri-City Dust Devils and
a single A affiliate of the Colorado Rockies of Major League Baseball.
In 1995, the $9.5 million Trade Recreation Agriculture Center (TRAC) was built through a joint
venture between the City of Pasco and Franklin County. TRAC includes a rodeo and livestock
arena, exhibition hall, meeting rooms, a concession area, and administrative offices.
Additionally, an adjoining 15-field soccer complex occupying 45 acres was developed in 1995
and shares the stadium parking lot. The complex is the State's second largest and has become a
popular location for tournament play. In 2000, the City completed construction of a $3.5 million
six field softball complex in the TRAC area. The City added lights to the softball fields in 2002.
The push for additional tourism continues. A Pavilion was constructed at the TRAC facility that
adds an ice rink and additional rental space; and in 2001, the City owned Sun Willows Golf
Course Clubhouse was completely renovated and the irrigation system completely replaced in
2003.
Pasco is also the home of the region's only International airport and train and bus depots.
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City of Pasco, 'Washington 200.9 Comprehensive AnnuaCTinanciaCReport
SUMMARY OF CURRENT AND FUTURE ECONOMIC OUTLOOK
The economy both nationally and locally has been a major news topic for the past several years.
Incidents that have negatively impacted the economy are: the slowdown in the economy
particularly in the manufacturing sector; inflation and interest rate increases, corporate
bankruptcies, layoffs and relocations; the War on Terrorism; and soaring energy prices,
particularly gasoline.
Franklin County, in which Pasco is located, is currently one of the fastest growing areas in
Washington State. In 2009, Pasco continued its positive growth though the trend has shown signs
of slowing, allowing City resources and planning to catch up with the growth.
Residential home, retail business and professional office construction have continued to grow,
with a high concentration of new growth taking place in the Interstate I-182 and Road 68 area.
Over the past 5 years, Wal-Mart opened a super center store; Lowe's opened a home
improvement store; and a 12-screen theater complex opened. New restaurants and other service
businesses have opened to serve the residential growth in the surrounding area. Residential
home construction has also been renewed in the area along A Street and Highway 12.
In 2009, the Pasco School District completed construction of the 341,000 square foot Chiawana
High School, the second high school for the community. The total contract amount was $72
million with completion on time to start school in the fall of 2009.
In 2009, the City issued a total of 1,849 building permits representing over $162 million in
construction costs. Of the total permits, 467 were for new single-family residences and equates
to $96 million in assessed valuation. The average value of a new home in Pasco was just under
$200,000 in 2009.
RISK MANAGEMENT
The City has an active Risk Management Program that utilizes a combination of in-house staff
and third party administrators to manage the City's Risk Programs. The City utilizes self-
insurance in several areas. The Medical-Dental Fund receives revenues from other funds based
on the medical/dental premiums contributed by the City for each full time employee in those
funds. Medical and dental claims are paid from this fund along with administrative costs to
Benefits Management, Inc., a third party administrator. The City reimburses the State of
Washington Department of Employment Security for unemployment claims paid. The City is
one of 79 cities participating in the Association of Washington Cities Workers' Compensation
Retrospective Rating Program which provides cities and towns with expertise and services to
lower their Labor& Industries (L&I) claims experience resulting in potential refunds of a portion
of the L&I premiums.
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City of Pasco, 'Washington 200.9 Comprehensive AnnuafTinanciaCAeport
ACKNOWLEDGEMENTS
The preparation of this report on a timely basis was made possible by the dedicated service of the
professional accounting staff of the Administrative and Community Services Department. We
wish to express our appreciation to those staff members for their contributions to the
development of this report.
In closing, we would like to thank the members of the City Council for their leadership and
support in planning and conducting the financial affairs of the City in a responsible and
progressive manner.
Respect su mi
Clary rutchfeld Rick Terway, Director
City anager Administrative and Community Services
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City of Pasco, 'Washington 2009 Comprehensive AnnuafTinanciaCAeport
DIRECTORY OF CITY OFFICIALS
As of December 31, 2009
LENGTH OF TERM
ELECTED OFFICIALS SERVICE EXPIRES
MAYOR
Joyce Olson 3 12/31/09
COUNCILMEMBERS
Rebecca M. Francik 12 12/31/11
Michael Garrison 21 12/31/09
Robert Hoffman 4 12/31/09
Tom Larsen 8 12/31/09
Matt Watkins, Mayor Pro-Tem 5 12/31/11
Al Yenney 2 12/31/11
LENGTH IN YEARS OF
ADMINISTRATIVE OFFICIALS POSITION SERVICE
CITY MANAGER
Gary D. Crutchfield 25 31
DEPUTY CITY MANAGER
Stanley R. Strebel 6mo 11
PUBLIC WORKS DIRECTOR
Robert J. Alberts 15 15
ADMISTRATIVE & COMMUNITYSERVICES DIRECTOR
Richard G. Terway 6mo 6mo
COMMUNITY DEVELOPMENT DIRECTOR
Rick White 2 2
FIRE CHIEF
Robert W. Gear 1 1
POLICE CHIEF
Denis W. Austin 14 14
MUNICIPAL COURT JUDGE
Mary B. Ramirez 23 23
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City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
MANAGEMENT TEAM
As of December 31, 2009
City Manager
Gary Crutchfield, City Manager
Stanley R. Strebel, Deputy City Manager
Lynne Jackson, Personnel Manager
Administrative and Community Services
Richard G. Terway, Director
Stephanie Brock, Interim Financial Services Manager
Sarita Cooper, Customer Service/Utility Billing Supervisor
Jesse Rice, Information Services Manager
Carleen Hanscom, Recreation Services Manager
Dan Dotta, Facilities Manager
Community Development
Rick White, Director
Michel Nickolds, Inspection Services Manager
Fire
Robert W. Gear, Fire Chief
Municipal Court
Mary B. Ramirez, Judge
Dorothy R. French, Court Administrator
Police
Denis W. Austin, Chief
Michael D. Aldridge, Captain -Administration
James Raymond, Captain - ISD
Ken Roske, Captain - Patrol
Public Works
Robert J. Alberts, Director
Mike McShane, City Engineer
Reuel Klempel, Plant Division Manager
Jesse U. Greenough, Field Division Manager
Paul Rhoads, Assistant Field Division Manager
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City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
2009 ORGANIZATIONAL CHART
PASCO CITY COUNCIL
CITY MANAGER
DEPUTY CITY MANAGER
COMMUNICATION HUMAN RESOURCE EXECUTIVE SUPPORT STAFF
SPECIALIST MANAGER
MUNICIPAL COURT JUDGE COMMUNITY & ECONOMIC
DEVELOPMENT DIRECTOR
POLICE CHIEF FIRE CHIEF
PUBLIC WORKS/ENGINEERING DIRECTOR ADMINISTRATIVE & COMMUNITY
SERVICES DIRECTOR
WATER/WW UTILITY/STREET MUNICIPAL
TREATMENT PLANT MAINTENANCE FIELD CITY CLERK PROSECUTING
DIVISION MANAGER DIVISION MANAGER ATTORNEY
INFORMATION FINANCIAL
SERVICES SERVICES
MANAGER MANAGER
RECREATION FACILITIES
SERVICES DIVISION
MANAGER MANAGER
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City of Pasco, tiVashington 2009 Comprehensive AnnualginanciaCPxport
Independent Auditor's Report on Financial
Statements
City of Pasco
Franklin County
January 1, 2009 through December 31, 2009
Mayor and City Council
City of Pasco
Pasco, Washington
TO BE INSERTED
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City of Pasco, -Washington 2009 Comprehensive AnnualginancialR.eport
BRIAN SONNTAG, CGFM
STATE AUDITOR
September 15, 2009
Washington State Auditor's Office
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City of Pasco, Uashington 20 0g Comprehensive AnnuaCTinanciaCReport
MANAGEMENT'S DISCUSSION AND ANALYSIS
This discussion and analysis, in conjunction with the Letter of Transmittal and other components
of the City of Pasco's Comprehensive Annual Financial Report (CAFR)provides an overview of
the City's financial activities for the fiscal year ended December 31, 2009. It is designed to:
1. assist the reader in focusing on significant financial issues;
2. provide an overview of the City's financial activity;
3. identify changes in the City's financial position (its ability to address the next and
subsequent year challenges);
4. identify any material deviations from the financial plan, the adopted budget; and
5. identify individual fund issues or concerns.
FINANCIAL INFORMATION
Basis of accounting refers to when revenues and expenditures or expenses are recognized in the
accounts and reported in the financial statements.
The City's government-wide financial statements have been prepared on the full accrual basis of
accounting in conformity with generally accepted accounting principles (GAAP). The City's
fund financial statements for its governmental group of funds (General, Special Revenue, Debt
Service, and Capital Projects) have been prepared on the modified accrual basis of accounting in
conformity with GAAP. The City's proprietary group of funds (Enterprise and Internal Service)
and its Fire Pension funds are accounted for on the modified accrual basis.
Cities and Counties of the State of Washington must comply with the Budgeting, Accounting
and Reporting System (BARS) prescribed by the State Auditor's Office. State law also provides
for annual independent audits by the State Auditor's Office and requires timely submission of
annual financial reports to their office for review.
Management of the City is responsible for establishing and maintaining an internal control
structure designed to ensure that the assets of the government are protected from loss, theft or
misuse and to ensure that adequate accounting data is compiled to allow for the preparation of
financial statements in conformity with generally accepted accounting principles. The internal
control structure is designed to provide a reasonable assurance that these objectives are met. The
concept of reasonable assurance recognizes that: (1) the cost of the control should not exceed the
benefits likely to be derived; and, (2) the valuation of costs and benefits requires estimates and
judgments by management.
The City maintains budgetary controls in order to ensure compliance with legal provisions
embodied in the annual appropriated budget approved by the City Council. Activities of the
General Fund, Special Revenue Funds, Debt Service Funds, Capital Project Funds, Enterprise
Funds, and Internal Service Funds are included in the annual operating budget. A budget
increase or decrease to a fund must be authorized by the City Council while appropriation
changes within a fund may be authorized by the City Manager.
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City of Pasco, 'WashiAgton 2009 Comprehensive AnnuafTinanciaCAeport
As demonstrated by the statements and schedules included in the financial section of this report,
the City continues to meet its responsibility for sound financial management.
The notes to these financial statements contain a more detailed description of significant
governmental accounting policies.
FINANCIAL HIGHLIGHTS
• The Statement of Net Assets for fiscal year December 31, 2009 ended with an
Unrestricted Net Asset Balance of $24,005,696 in Governmental Activities. These
monies are intended to provide a cushion against significant downturns in revenues and
to maintain sufficient working capital and cash flows to meet daily financial needs.
Other reserves have been designated by management to address annual budget
amendments, furniture and equipment replacement, major building repairs, and future
facilities.
• Also shown on the Statement of Net Assets is an Unrestricted Net Asset Balance of
$12,877,485 in the Business Activities category. These monies are intended to provide a
cushion against significant downturns in revenues and to maintain sufficient working
capital and cash flows to meet daily financial needs. Other reserves have been designated
by management to address annual budget amendments, furniture and equipment
replacement, major facility repairs, system improvements and future facilities. These
reserves assist to minimize future debt.
• From the Statement of Activities, General Revenues, primarily from property, retail and
other taxes were used to support the following major activities:
a. $10,580983 for General Government purposes—Administration, Finance, City
Council, and Facilities;
b. $922,376 for Judicial services—Municipal Courts;
c. $18,742,769 for Security of Persons and Property—Police, Fire, Probation Services,
Violations, and Protective Inspections;
d. $3,050,013 for Physical Environment—Engineering;
e. $1,384,931 for Economic Environment—Community Development;
f. $6,211,790 for Cultural & Recreation—Parks & Recreation;
g. $5,137,163 for Transportation— Streets Maintenance & Improvements, Multi-Model
Facility.
h. $58,517 for Health and Human Services.
USING THIS ANNUAL REPORT
This annual report consists of a series of financial statements. The Statement of Net Assets and
the Statement of Activities provide information about the activities of the City as a whole and
present a longer-term view of the City's finances. For governmental activities, these statements
tell how these services were financed in the short term as well as what remains for future
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City of Pasco, Uashington 2000 Comprehensive AnnuaCginanciaCReport
spending. Fund financial statements also report the City's operations in more detail than the
government-wide statements by providing information about the City's most significant funds.
The remaining statements provide financial information about activities for which the City acts
solely as a trustee or agent for the benefit of those outside the government.
REPORTING THE CITY AS A WHOLE
The Statement of Net Assets and the Statements of Activities
One of the most important questions asked about the City's finances is . . .
"Is the City as a whole better off or worse off as a result of the year's activities?"
The Statement of Net Assets and the Statement of Activities report information about the City as
a whole and about its activities in a way that helps answer this question. These statements
include all assets and liabilities using the accrual basis of accounting, which is similar to the
accounting used by most private sector companies. All of the current year's revenues and
expenses are taken into account regardless of when cash is received or paid.
These two statements report the City's net assets and changes to them. You can think of the
City's net assets — the difference between assets and liabilities — as one way to measure the
City's financial health, or financial position. Over time, increases or decreases in the City's net
assets are one indicator of whether its financial health is improving or deteriorating. You will
need to consider other non-financial factors, however, such as changes in the City's property tax
base and the condition of the City's roads,to assess the overall health of the City of Pasco.
In the Statement of Net Assets and the Statement of Activities, we divide the City into two kinds
of activities:
• Governmental activities — Most of the City's basic services are reported here, including
the police, fire, courts, public works, community development, and parks departments,
and general administration. Taxes, grants, and fees for services finance most of these
activities.
• Business-type activities —The City charges a fee to customers to help it cover all or most
of certain services it provides. The City's Water/Sewer operations including the water,
sewer, storm water management, process water reuse and irrigation systems are reported
here.
As with most cities, the City of Pasco at year end 2009 was on the verge of recovery from the
recession of 2006/2008. Although gains in operating revenues were minimal, total net asset
increases were considerable. The increase totaled $23,110,081. Of this increase $11,880,508
was in governmental activities and $11,229,573 was in business-type activities. For the most part
the increase was from an increase in infrastructure, buildings, streets, land improvements,
machinery and equipment.
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City of Pasco, 'Washington 200.9 Comprehensive AnnuaCTinanciaCReport
REPORTING THE CITY'S MOST SIGNIFICANT FUNDS
Fund Financial Statements
Fund financial statements provide detailed information about the most significant funds—not the
City as a whole. The City's two kinds of funds — governmental and proprietary — use different
accounting approaches.
• Governmental Funds — Most of the City's basic services are reported in governmental
funds, which focus on how money flows into and out of those funds and the balances left
at year-end that are available for spending. These funds are reported using an accounting
method called modified accrual accounting, which measures cash and all other financial
assets that can readily be converted to cash. The governmental fund statements provide a
detailed short-term view of the City's general government operations and the basic
services it provides. Governmental fund information helps determine whether there are
more or fewer financial resources that can be spent in the near future to finance the City's
programs. We describe the relationship (or differences) between governmental activities
(reported in the Statement of Net Assets and the Statement of Activities) and
governmental funds in the reconciliation at the bottom of the fund financial statements.
• Proprietary Funds — When the City charges customers for the services it provides —
whether to outside customers or to other units of the City — these services are generally
reported in proprietary funds. Proprietary funds are reported in the same way that all
activities are reported in the Statement of Net Assets and the Statement of Activities. In
fact, the City's enterprise fund (a component of proprietary funds) is the same as the
business-type activities we report in the government-wide statements but provide more
detail and additional information, such as cash flows, for proprietary funds. The City
uses internal service funds (the other component of proprietary funds) to report activities
that provide supplies and services for the City's other programs and activities — such as
the City's Medical/Dental Fund.
THE CITY AS TRUSTEE
Reporting the City's Fiduciary Responsibilities
The City is the trustee, or fiduciary, for the Fire pension plan. It is also responsible for other
assets that—because of a trust arrangement— can be used only for the trust beneficiaries. All of
the City's fiduciary activities are reported in separate Statements of Fiduciary Net Assets and
Changes in Fiduciary Net Assets. We exclude these activities from the City's other financial
statements because the City cannot use these assets to finance its operations. The City is
responsible for ensuring that the assets reported in these funds are used for their intended
purposes.
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City of Pasco, -Washington 2009 Comprehensive AnnualginancialR.eport
THE CITY AS A WHOLE
Statement of Net Assets
The City's combined net assets for fiscal year 2009 were $252,353,597. The following table
reflects the condensed Statement of Net Assets. Financial information from 2008 financial
statements is also presented for comparison purposes.
Table 1
Net Assets (in millions)
2009
Governmental Business-type Total Primary
Activities Activities Government
Current and other Assets $ 34.77 $ 15.46 $ 50.24
Capital Assets 107.34 147.23 254.58
Other Non-Current Assets 3.74 8.23 11.98
Total Assets 145.86 170.93 316.79
Long-term Debt 15.87 38.38 54.25
Other Liabilities 5.06 5.13 10.19
Total Liabilities 20.93 43.50 64.44
Net Assets:
Invested in Capital, Net of Debt 97.71 113.77 211.48
Restricted 3.22 0.78 3.99
Unrestricted 24.01 12.88 36.88
Total Net Assets $ 124.93 $ 127.42 $ 252.35
2008
Governmental Business-type Total Primary
Activities Activities Government
Current and other Assets $ 37.31 $ 9.19 $ 46.50
Capital Assets 97.77 140.27 238.04
Other Non-Current Assets 0.99 3.21 4.20
Total Assets 136.07 152.67 288.74
Long-term Debt 16.39 31.36 47.75
Other Liabilities 6.12 5.63 11.75
Total Liabilities 22.51 36.99 59.50
Net Assets:
Invested in Capital, Net of Debt 85.29 109.74 195.03
Restricted 4.00 0.75 4.75
Unrestricted 23.75 5.71 29.46
Total Net Assets $ 113.04 $ 116.20 $ 229.24
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City of Pasco, Washington 20 0g Comprehensive AnnuaCTinanciaCReport
Statement of Activities
The following condensed table of changes in net assets compares the revenues and expenses for
the current year. Financial information from the previous year is also presented for comparison
purposes.
Table 2
Changes in Net Assets
(in Millions)
2009 2008
Governmental Business-type Total Primary Governmental Business-type Total Primary
Activities ActiNities Government Activities Activities Government
Revenues
Program Revenues:
Charges for Services $ 15.03 $ 18.72 $ 33.75 $ 12.19 $ 17.23 $ 29.42
Operating Grants&Contributions 0.50 - 0.50 0.38 - 0.38
Capital Grants&Contributions 13.28 3.06 16.34 14.75 3.25 18.00
General Revenues: -
Property Taxes 5.74 - 5.74 5.51 - 5.51
Property Taxes levied for Debt Service 0.53 0.53 0.54 0.54
Sales&Use Taxes 8.00 8.00 8.84 8.84
Occupational Utility Taxes 8.92 8.92 8.69 8.69
Other Taxes 4.69 - 4.69 4.65 - 4.65
Investment Earnings 0.73 0.40 1.13 0.99 0.43 1.42
Miscellaneous Revenues 0.33 - 0.33 -
Total Revenues 57.77 22.18 79.95 56.54 20.91 77.45
Program expenses including indirect expenses
General Government 10.58 - 10.58 9.60 - 9.60
Judicial 0.92 0.92 0.81 0.81
Public Safety 18.74 18.74 18.30 18.30
Physical Environment 3.05 3.05 3.53 3.53
Transportation 5.14 5.14 4.33 4.33
Health and Human Services 0.06 0.06 0.06 0.06
Economic Environment 1.38 1.38 1.20 1.20
Culture and Recreation 6.21 6.21 5.98 5.98
Interest on Long Term Debt 0.41 - 0.41 0.59 - 0.59
Water - 6.03 6.03 - 5.99 5.99
Sewer 6.83 6.83 6.32 6.32
Water Process Reuse 1.56 1.56 1.57 1.57
Storm Water 0.74 0.74 0.61 0.61
Irrigation 1.01 1.01 1.01 1.01
Internal Service - 0.40 0.40 - 0.48 0.48
Total Expenses 46.50 16.56 63.06 44.40 15.98 60.38
Changes in Net Assets 11.27 5.62 16.89 12.14 4.93 17.07
Transfers 0.57 (0.57) (0.00) 0.61 (0.61) -
Total Changes in Net Assets $ 11.83 $ 5.05 $ 16.89 $ 12.75 $ 4.32 $ 17.07
REVENUE HIGHLIGHTS
As can be seen in the preceding table, 2009 governmental revenues increased slightly in most
categories,but a significant increase was realized in the Charges for Services category.
Generally, the same is also true for business-type operating revenues, with the exception is
capital grants and contributions; of which increased significantly.
16
City of Pasco, 'Washing ton 2000 Comprehensive AnnuaCTinanciaCReport
Following is a graphical breakdown of revenues by general category for 2009:
Sources of Revenues 2009
Investment
Earnings
1%
Non-Property Chargesfor
Taxes Services
25.5% 42%
Property Taxes
8%
Operating
Grants&
Contributions
Capital Grants .5%
Contributions
21%
Following is a graphical breakdown of expenditures by general category for 2008:
Sources of Revenues 2008
Investment
Earnings
2%
Non-Property Charges for
Taxes Services
29% 38%
Property
Taxes
8% Operating
Grants&
Capital Contributions
Grants& 0%
Contributions
23%
17
City of Pasco, 'Washington 2000 Comprehensive AnnuaCTinanciaCReport
Comments on Pasco's economic growth are contained in the Transmittal Letter. The City's
assessed value grew 2.5% for fiscal year 2009 to $2,934,792,310. This was driven by the $50
million in new construction values added during 2009. The City's general levy rate per $1,000
of assessed value was reduced by 9.8% for taxes paid during 2009.
THE CITY FUNDS
Governmental Funds
The governmental funds, as presented on the Governmental Funds Balance Sheet, reported a
combined fund balance of$22,275,495.
Major Funds
• The General Fund
a. From 2008 to 2009 the total assets decreased by $829,048. This decrease is due to
interfund loans to non-major funds to cover negative cash balances.
b. Total liabilities increased by $318,187. This increase is due mainly to increases in
accounts payable and deposits payable balances.
c. Fund Balance decreased by $1,147,235.
• Business-Type Funds
Water/Sewer Fund
Pasco's enterprise operations consist of the Water/Sewer Utility Fund. This fund includes
water, sewer, process water reuse, stormwater and irrigation operations. The City's water
system currently serves approximately 16,389 customers, and approximately 88% of those
are single-family residential customers. The latest water rate increase became effective on
January 1, 2004. The sewer system currently serves approximately 13,647 customers, 89%
of which are single-family residential customers. Sewer rates were actually decreased by
10% effective on January 1, 2007.
a. Total assets increased by $18,021,807.
b. Total liabilities increased by$7,026,491 due to payments made on outstanding Long-
term debt.
c. Net assets increased by $10,995,316.
GOVERNMENTAL FUND BUDGET HIGHLIGHTS
The following is a brief review of the budgeting changes from the original adopted budget to the
amended final budget for the major governmental funds.
• $1,795,300 in expense increases were added to the General Fund to cover: increases in
Municipal Court, legal cost, legal services, engineering plans and inspections, interfund
18
City of Pasco, 'Washington 2000 Comprehensive AnnuaCFinanciaCReport
loans to funds that had a negative fund balance and to allow spending of unanticipated
revenue streams and their corresponding expenses.
• $1,795,300 in unreserved ending fund balance in the General Fund was used to cover the
above increases, therefore, there was no increase in the General Fund total budget in
2009.
• $451,500 in expense increase in Other Operating Funds to cover: street maintenance
related cost, external engineering services, salary/benefit for custodial services and
general expenses.
• $385,000 in expense increase in the Capital Improvement Fund to cover unanticipated
cost.
CASH MANAGEMENT
The City's investment policy is to minimize credit and market risk while maintaining a
competitive yield on its portfolio. City funds are invested primarily on the basis of pooled cash.
All available funds not individually invested are invested as one source leading to higher interest
yield than if invested on an individual fund basis. The cash flow needs of the City require some
investments to be relatively short term in nature. A smaller portion of idle cash is deposited with
the State Treasurer in the Local Government Investment Pool where funds can be readily
accessed. A larger portion of the portfolio is invested in longer term U.S. government securities.
The market value of the entire investment portfolio on December 31, 2009 was $41,791,155.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The City of Pasco implemented the major model portions of GASB Statement #34 for
infrastructure beginning in 2003.
As of the end of 2009, the City had $266,400,216 invested in a variety of capital assets as
illustrated in the following table. Capital assets net of depreciation increased by approximately
$24.3 million in 2009. Of this amount, there was an increase of$12.3 million in governmental-
type activity, and $12 million in business-type activity capital expenditures and infrastructure
contributions.
19
City of Pasco, -Washington 2009 Comprehensive AnnualginanciaCPxport
Table 3
Capital Assets at Year-End
(Net of Depreciation)
2009
Governmental Business-type
Activities Activities Total
Land $ 6,466,727 $ 7,288,628 $ 13,755,355
Buildings & Structures 23,423,820 - 23,423,820
Improvements 6,161,687 - 6,161,687
Machinery & Equipment 1,344,867 - 1,344,867
Work-in-Progress 3,744,867 8,079,396 11,824,263
Infrastructure 67,805,059 - 67,805,059
Equipment Rental 2,103,688 1,053,698 3,157,386
Equipment Animal Control 38,305 - 38,305
Source of Supply - 84,097 84,097
Pumping Plants - 4,414,479 4,414,479
Treatment Plants - 23,442,308 23,442,308
Transmission, Distribution & Collection Lines - 77,981,939 77,981,939
General Plant Assets - 2,609,239 2,609,239
West Pasco Water System - 325,141 325,141
Plant Acquisition - 280,386 280,386
Process Water Reuse Plant - 8,015,837 8,015,837
Irrigation - 18,092,087 18,092,087
Storm Water Assets - 3,643,961 3,643,961
Total Capital Assets Net of Depreciation $ 111,089,020 $ 155,311,196 $ 266,400,216
Table 4
Capital Assets at Year-End
(Net of Depreciation)
2008
Governmental Business-type
Activities Activities Total
Land $ 5,855,166 $ 317,786 $ 6,172,952
Buildings & Structures 23,492,630 - 23,492,630
Improvements 6,745,216 - 6,745,216
Machinery & Equipment 1,283,125 - 1,283,125
Work-in-Progress 986,569 3,213,130 4,199,699
Infrastructure 58,092,092 - 58,092,092
Equipment Rental 2,253,873 1,001,283 3,255,156
Equipment Animal Control 52,324 - 52,324
Source of Supply - 90,637 90,637
Pumping Plants - 4,773,166 4,773,166
Treatment Plants - 22,267,225 22,267,225
Transmission, Distribution & Collection Lines - 76,923,212 76,923,212
General Plant Assets - 1,671,005 1,671,005
West Pasco Water System - 360,059 360,059
Plant Acquisition - 303,751 303,751
Process Water Reuse Plant - 11,970,973 11,970,973
Irrigation - 17,063,723 17,063,723
Storm Water Assets - 3,363,936 3,363,936
Total Capital Assets Net of Depreciation $ 98,760,995 $ 143,319,886 $ 242,080,881
See Note 6 for additional information on capital assets.
20
City of Pasco, Uashington 20 0g Comprehensive AnnuaCTinanciaCReport
Debt Administration
At December 31, 2009, the City had a number of debt issues outstanding. These issues include
$9,945,000 of general obligation bonds, both voted and non-voted, $24,710,000 of revenue and
revenue refunding bonds, and $15,000 of special assessment bonds. The City's general
obligation bonds have a AAA rating from Moody's Investor Service. Standard and Poor's rated
the City's most recent water and sewer revenue bonds (2009)AA-.
The City's bonds are backed with municipal bond insurance policies as follows: 1998
Water/Sewer Bonds, 2001 LTGO Bonds, and 2002 Water/Sewer Bonds are backed by AMBAC
Indemnity Corporation; the 2002 UTGO Bonds are backed by Financial Guaranty Insurance
Corporation; the 1999 UTGO Bonds, 2001 Water/Sewer Bonds and 2002 LTGO Bonds are
backed by MBIA Insurance Corporation; and the 2005 Water/Sewer Bonds are backed by
Financial Security Assurance.
Over the last several years the City obtained Public Works Trust Fund loans to help finance
several major construction projects. These loans have been financed at interest rates from 1% to
3%. The outstanding balance of these four loans totals $2,124,864 at December 31, 2009. The
City is also utilizing the State Revolving Loan Fund to help finance the expansion of the sewer
treatment plant. The outstanding balance of this loan is $14,423,946. These loans each have a
term of 20 years.
In addition to the above listed debt, the City has three Local Option Capital Asset Lending
(LOCAL) Program Washington State Loans; a loan with the Port of Pasco for the City's share of
the new airport fire station debt and a loan with Franklin County for the City's share of the
TRAC facility debt. The outstanding balance on these loans as of December 31, 2009 is
$870,819.
The City does not have any restrictions, commitments or other limitations that would
significantly affect availability of fund resources.
See Note 10, for additional detailed information on debt amounts.
ECONOMIC FACTORS
The State of Washington, by constitution, does not have a State personal income tax and
therefore the State operates primarily using property, sales, utility, and gasoline taxes. Local
governments (cities, counties, school districts) primarily rely on property and a limited array of
permitted other taxes (sales, utility, business and occupation) and fees (permits, licenses, etc.) for
their government activities. There are a limited number of State-shared revenues and recurring
and non-recurring grants from both the State and federal government.
21
City of Pasco, 'Washing ton 20 0g Comprehensive AnnuaCTinanciaCAeport
FINANCIAL CONTACT
The City's financial statements are designed to present users with a general overview of the
City's finances and to demonstrate the City's accountability. If you have questions about this
report or need additional information, contact the City's Finance Division of the Administrative
and Community Services Department, 525 N. 3`a Avenue, Pasco, Washington 99301.
22
City of Pasco, Washington 20 0g Comprehensive AnnuaCTinanciaCAeport
Tree City, USA
The City of Pasco is recognized by the Washington State Department of
Natural Resources and Commissioner of Public Lands for being a"Tree City,
USA."
This distinguished honor celebrates the importance of trees in our
communities. Trees can provide much needed shade in summer, buffer
against high winds, conserve water, generates oxygen and protect the soil
from erosion.
23
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
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24
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCAeport
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements
25
City of Pasco, Washington 2009 Comprehensive AnnualginanciaCPxport
Statement of Net Assets
December 31,2009
Governmental Business-Type
Activities Activities 2009 2008
ASSETS
Current Cash&Cash Equivalents $ 758,361 $ 7,168,320 $ 7,926,680 $ 1,856,661
Investments 24,768,362 6,769,049 31,537,412 32,738,059
Receivables(net of allowances)
Taxes 417,987 - 417,987 2,573,202
Customer Accounts 2,506,935 678,062 3,184,997 7,508,657
Due from Other Funds 2,164 15,062 17,226 -
Interest Receivable 127,873 67,694 195,567 219,378
Other Receivables 5,937,834 333,036 6,270,870 1,017,041
Inventories 8,179 423,429 431,608 292,714
Prepaid Insurance - 9,352 9,352 20,036
Joint Ventures 246,195 - 246,195 278,229
Land 6,466,727 7,288,627 13,755,354 6,172,952
Capital Assets,Net of Depreciation 33,072,435 41,365,399 74,437,834 76,265,266
Construction Work In Progress 3,744,867 8,079,396 11,824,263 4,199,699
Infrastructure,Net of Depreciation 67,805,060 98,577,773 166,382,833 155,442,964
Deferred Charges - 150,869 150,869 162,601
TOTAL ASSETS 145,862,979 170,926,068 316,789,047 288,747,459
LIABILITIES
Current
Accounts Payable 1,312,203 947,467 2,259,670 956,993
Bank Overdraft - - - 1,768,775
Due to Other Governmental Units 90,808 49,702 140,510 39,521
Retainage Payable - 150,202 150,202 201,181
Deposits Payable 420,182 670,438 1,090,620 498,201
Interest Payable - 400,703 400,703 359,901
Other 504,849 - 504,849 501,095
Deferred Revenue - (156,918) (156,918) 1,262,101
Non-Current Liabilities
Deferred Revenue 4,641,885 - 4,641,885 5,583,891
Unclaimed Property 6,801 29,031 35,832 30,516
Claims Incurred Not Reported 550,000 - 550,000 550,000
Due within One Year 2,732,534 3,064,082 5,796,616 5,778,250
Due in More than One Year 10,674,710 38,346,771 49,021,481 41,973,518
Total Liabilities 20,933,972 43,501,478 64,435,450 59,503,943
NET ASSETS
Invested in Capital Assets,Net of Related Debt 97,706,730 113,771,999 211,478,729 195,030,110
Restricted for:
Debt Service 1,198,693 775,106 1,973,799 2,920,664
Capital Improvements - - - 15,165
Other Restricted 2,017,888 - 2,017,888 1,815,716
Unrestricted(deficit) 24,005,696 12,877,485 36,883,181 29,461,861
Total Net Assets $ 124,929,007 $ 127,424,590 $ 252,353,597 $ 229,243,516
See accompanying notes to the basic financial statements.
26
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
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27
City of Pasco, -Washington 2009 Comprehensive AnnualginanciaCPxport
Balance Sheet
Governmental Funds
December 31,2009 Total
Other Governmental
General Governmental Funds
Fund Funds 2009 2008
ASSETS
Current Cash&Cash Equivalents $ 68,299 $ (58,228) $ 10,071 $ 817,032
Investments 6,761,464 14,071,475 20,832,939 22,033,586
Receivables(net of allowances)
Taxes 322,426 95,561 417,987 2,573,202
Customer Accounts 1,477,362 1,029,573 2,506,935 6,647,003
Interfund Loans Receivable 1,327,800 120,460 1,448,260 677,900
Interest Receivable 35,660 68,996 104,656 129,932
Other Receivables 2,026,965 3,910,869 5,937,834 723,023
TOTAL ASSETS 12,019,976 19,238,706 31,258,682 33,601,678
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 371,620 909,815 1,281,435 678,776
Bank Overdraft - - - 1,768,775
Interfund Loans Payable - 2,002,227 2,002,227 634,900
Due to Other Governmental Units 89,965 843 90,808 8,792
Bonds,Notes,Loans Payable - 35,000 35,000 120,000
Deposits Payable 420,182 - 420,182 404,691
Other - 504,849 504,849 501,095
Deferred Revenue 1,316,555 3,325,330 4,641,885 5,583,891
Unclaimed Property 6,801 - 6,801 5,434
Total Liabilities 2,205,123 6,778,064 8,983,187 9,706,354
Fund Balances
Reserved for:
Advances to Other Funds 1,327,800 120,460 1,448,260 677,900
Debt Service - 659,788 659,788 2,073,622
Capital Improvements - - - 15,165
Other Reserves 15,165 2,017,888 2,033,053 1,815,716
Unreserved,Reported in:
General Fund 8,471,888 - 8,471,888 10,270,123
Special Revenue Funds - 9,010,436 9,010,436 9,871,589
Debt Service Funds 1,307,212 1,307,212 921,004
Capital Project Funds (655,142) (655,142) (1,749,795)
Total Fund Balances 9,814,853 12,460,642 22,275,495 23,895,324
TOTAL LIABILITIES AND FUND BALANCES $ 12,019,976 $ 19,238,706
Amounts reported for governmental activities in the statements of net assets
are different because: balance in government funds 22,275,495
Capital Assets used in governmental activities are not financial resources and
therefore are not reported in the government funds. 109,193,291
Internal Service funds are used by management to charge the costs of certain
activities to individual funds. The assets and liabilities of internal service funds are
included in the governmental activities in the Statement of Net Assets. 6,807,580
Some liabilities,including bonds payable,are not due and payable in the current
period and therefore are not reported in the funds. (13,347,359)
Net assets of governmental activities $ 124,929,007
See accompanying notes to the basic financial statements.
28
City o f Pasco. Washington 200P Comprehensive AnnualginanciaCPxport
Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the Year Ended December 31,2009
Total
Other Governmental
General Governmental Funds
Fund Funds 2009 2008
REVENUES
Taxes $ 22,614,629 $ 2,725,499 $ 25,340,128 $ 25,716,456
Licenses&Permits 1,586,917 272,869 1,859,786 1,615,735
Intergovernmental Revenue 1,852,035 2,188,736 4,040,771 5,293,226
Charges for Services 2,839,213 2,446,234 5,285,447 4,770,921
Fines&Forfeitures 1,012,084 50,753 1,062,837 1,016,739
Investment Income 249,769 367,095 616,864 858,136
Miscellaneous Revenue 581,939 1,763,585 2,345,524 1,452,321
Total Revenues 30,736,586 9,814,771 40,551,357 40,723,534
EXPENDITURES
Current:
General Government 4,924,210 - 4,924,210 4,526,556
Judicial 922,376 - 922,376 813,800
Public Safety 16,327,460 2,090,974 18,418,434 17,711,319
Physical Environment 1,805,054 261,319 2,066,373 2,077,596
Transportation - 1,566,408 1,566,408 1,536,157
Health and Human Services 12,400 46,117 58,517 56,652
Economic Environment 478,957 465,077 944,034 671,118
Culture and Recreation 3,771,508 898,233 4,669,741 4,279,338
Capital Outlay 1,180,315 6,536,996 7,717,311 7,345,013
Debt Service
Principal 657,732 591,552 1,249,284 1,108,336
Interest 227,655 185,738 413,393 587,421
Total Expenditures 30,307,667 12,642,414 42,950,081 40,713,306
Excess of Revenues Over(Under)Expenditures 428,919 (2,827,643) (2,398,724) 10,228
OTHER FINANCING SOURCES (USES)
Disposition of Capital Assets - - - 7,076
Proceeds of General L-T Debt - - - -
Insurance Recoveries/otherrevenues 212,312 39,180 251,492 75
Operating Transfers-(In) 119,676 4,873,107 4,992,783 5,093,754
Operating Transfers-(Out) (1,950,796) (2,557,450) (4,508,246) (4,542,032)
Total Other Financing Sources(Uses) (1,618,808) 2,354,837 736,029 558,873
Net Change in Fund Balances (1,189,889) (472,806) (1,662,695) 569,101
Prior Year Adjustments 42,654 213 42,867 1,627
Fund Balance Beginning 10,962,088 12,933,235 23,895,323 23,324,595
Fund Balance, Ending $ 9,814,853 $ 12,460,642 $ 22,275,495 $ 23,895,323
See accompanying notes to the basic financial statements.
29
City o f Pasco. Washington 2009 Comprehensive AnnualginanciaCPxport
Reconciliation of the Statement of Revenues, Expenditures,and
Changes in Fund Balance of Governmental Funds to the Statement of Activities
For the Year Ended December 31,2009
Net change in fund balances-total governmental funds $ (1,662,695)
Amounts reported for governmental activities in the Statement of Activities are
different because of the following reconciling items:
Governmental funds report capital outlays as expenditures. However,in the Statement
of Net Assets they are reported net of depreciation as a capital asset. This is the
amount by which capital outlays exceeded depreciation in the current period. (521,253)
The Statement of Net Assets shows a decrease in the value of Joint Ventures. (32,034)
Repayment of bond principal is an expenditure in the governmental funds,but the
payment reduces long-term liabilities in the Statement of Net Assets. This is the
amount of debt service payments for bonds. This amount comes from the Statement
of Revenues, Expenditures,and Changes in Fund Balances for Government Funds. 1,249,284
Non-cash capital contributions reported in the Statement of Activities do not involve the use
of current financial resources and,therefore,are not reported as revenues in governmental funds. 12,849,347
Some expenses reported in the Statement of Activities do not involve the use of current
financial resources and,therefore,are not reported as expenditures in governmental funds. (817,364)
Internal service funds are used by management to charge the costs of certain activities to
individual funds. The net revenue of internal service funds is reported with governmental
activities. This amount comes from the Combining Statement of Revenues, Expenditures
and Changes in Net Fund Assets for Internal Service Funds, Net Operating Income. 772,738
Change in net assets of governmental activities $ 11,838,023
See accompanying notes to the basic financial statements.
30
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCPeport
Statement of Net Assets
Proprietary Funds
For the Year Ended December 31,2009
2009 2008
Business Type Business Type
Activities Governmental Business Type Activities Governmental Business Type
Enterprise Funds Activities Activities Enterprise Funds Activities Activities
Water/Sewer Internal Service Internal Service Water/Sewer Internal Service Internal Service
Fund Funds Funds Fund Funds Funds
ASSETS
Current Assets:
Current Cash&Cash Equivalents $ 5,807,295 $ 748,290 $ 301,264 $ 55,588 $ 131,692 $ 122,308
Receivables(net of allowances)
Utility Receivables 678,062 - - 835,946 - -
Other Receivables 333,036 294,018 -
Notes Receivable - - - -
Interfund Loans Receivable 15,062 538,905 - 17,000 100,000 -
Interest Receivable 59,545 23,217 8,149 53,910 25,132 10,404
Due from Governmental Units 34,054 17,226 - - 25,708 -
Merchandise Inventory 423,429 8,179 284,357 8,357 -
Prepaid Insurance 9,352 20,036 - -
Total Current Assets 7,359,835 1,335,817 309,413 1,560,855 290,889 132,712
Non-Current Assets:
Investments 5,503,193 3,935,423 1,265,856 5,503,193 3,935,423 1,265,856
Restricted Assets
Debt Service:
Cash&Cash Equivalents 1,059,761 - - 730,042 - -
Capital Assets
Land 7,288,627 - - 317,786 - -
Buildings/Structures/Improvements/
Equipment&Systems 67,150,321 5,521,646 2,234,876 68,372,350 5,357,490 2,104,799
Less Accumulated Depreciation (26,838,620) (3,379,653) (1,181,178) (26,935,535) (3,051,293) (1,103,516)
Infrastructure 120,128,904 115,594,180 - -
LessAccumulatedDepreciation (21,551,131) (18,243,308) - -
Construction Work In Progress 8,079,396 3,213,130 - -
Deferred Charges 116,815 162,601 - -
Total Non-Current Assets 160,937,266 6,077,416 2,319,554 148,714,439 6,241,620 2,267,139
TOTAL ASSETS $ 168,297,101 $ 7,413,233 $ 2,628,967 $ 150,275,294 $ 6,532,509 $ 2,399,851
31
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCPeport
Statement of Net Assets
Proprietary Funds
For the Year Ended December 31,2009
2009 2008
Business Type Business Type
Activities Governmental Business Type Activities Governmental Business Type
Enterprise Funds Activities Activities Enterprise Funds Activities Activities
Water/Sewer Internal Service Internal Service Water/Sewer Internal Service Internal Service
Fund Funds Funds Fund Funds Funds
LIABILITIES
Current Liabilities:
Accounts Payable 946,789 30,768 678 238,330 34,068 5,819
Due to Other Governments 49,702 - - 30,729 - -
Retainage Payable 150,202 201,181
Matured G.O.Bonds - - -
Current Portion Bonds Payable 1,405,000 - 1,405,000 -
Current Portion Loans Payable 1,507,037 - 1,507,037 160,000
Deposits 670,438 - 93,510 -
Interest Payable 400,703 - 359,901
Deferred Credits (156,918) - - 1,262,101
Total Current Liabilities 4,972,953 30,768 678 5,097,789 194,068 5,819
Non-Current Liabilities
Compensated Absences 144,161 24,885 7,883 129,746 20,934 7,883
Claims Incurred Not Reported - 550,000 - - 550,000 -
Unclaimed Property 29,031 - 25,082 -
Bonds Payable:
1998 Revenue Bonds Series A 1,315,000 1,420,000
1998 Refunding Bonds Series B 3,505,000 - 4,120,000
1998 Revenue Bonds Series C 215,000 - 315,000
1999 Revenue Bonds 485,000 - 535,000
2001 Revenue Bonds 370,000 - 435,000
2002 Revenue Bonds 4,295,000 - 4,550,000
2005 Revenue Bonds 3,735,000 - 3,900,000
2007&2009 Revenue Bonds 10,790,000 - 795,000
Less:Current Portion (1,405,000) - (1,405,000)
Loans Payable:
PWTF Loans 2,124,863 - 2,447,951
SRF Loan 14,423,946 - 15,607,895 -
Interfund Loans - - - 160,000
Less:Current Portion (1,507,037) - - (1,507,037) (160,000) -
Total Non-Current Liabilities 38,519,964 574,885 7,883 31,368,637 570,934 7,883
Total Liabilities 43,492,917 605,653 8,561 36,466,426 765,002 13,702
NETASSETS
Investment in Capital Assets:
Net of Related Debt 112,718,301 2,141,993 1,053,698 107,631,675 2,306,197 2,104,799
Restricted for Debt Service 775,106 538,905 - 747,042 100,000 -
Unrestricted 11,310,777 4,126,682 1,566,708 5,430,151 3,361,310 281,350
Total Net Assets $ 124,804,184 $ 6,807,580 $ 2,620,406 $ 113,808,868 $ 5,767,507 $ 2,386,149
See accompanying notes to the basic financial statements.
32
City of Pasco, Washington 20 0g Comprehensive AnnuaCTinanciaCPeport
Statement of Revenues,Expenses,and Changes in Fund Net Assets
Proprietary Funds
For the Years Ended December 31,2009 and 2008
2009 2008
Governmental Business-type Governmental Business-type
Business-type Activities Activities Business-type Activities Activities
Activities Internal Internal Activities Internal Internal
Enterprise Funds Service Funds Service Funds Enterprise Funds Service Funds Service Funds
Water/Sewer Water/Sewer
Fund Total Total Fund Total Total
OPERATING REVENUES
Charges for Services-Internal $ - $ 5,089,332 $ 627,300 $ - $ 4,499,715 $ 525,120
Charges for Services-Other 15,083,562 487,472 2,613 14,440,301 725,659 6,424
Miscellaneous Revenue 1,789,325 1,332,057
Total Operating Revenues 16,872,887 5,576,804 629,913 15,772,358 5,225,374 531,544
OPERATING EXPENSES
Personal Services 3,614,536 779,620 16,800 3,046,231 749,983 18,000
Supplies 481,446 - - 673,459 - -
Other Services&Charges 3,688,850 4,024,418
Taxes 2,070,525 - - 1,862,729 - -
Maintenance Expenses - 712,201 185,356 - 766,902 225,973
Insurance Claims and Expenses - 2,886,658 - - 2,628,228 -
Depreciation 4,622,319 421,644 222,734 4,502,037 438,819 223,970
Capital Outlays 3,943 (22,122) 5,167 16,627
Total Operating Expenses 14,477,676 4,804,066 402,768 14,108,874 4,589,099 484,570
OPERATING INCOME(LOSS) 2,395,211 772,738 227,145 1,663,484 636,275 46,974
NON-OPERATING REVENUES(EXPENSES)
Interest and Investment Revenue 359,270 117,778 39,497 373,099 128,396 51,925
Farmland Rentals 948,870 - - 756,230 - -
Interest Expense (1,628,772) (1,344,208)
Amortization Expense (51,031) (44,054)
Miscellaneous Non-Operating Revenues 269,672 172,223
Total Non-Operating Revenues(Expenses) (101,991) 117,778 39,497 (86,710) 128,396 51,925
Income(Loss)before Contributions and
Transfers 2,293,220 890,516 266,642 1,576,774 764,671 98,899
Capital Contributions 3,011,986 68,957 48,597 3,015,396 234,525 238,162
Transfers In 643,459 80,982 - 826,680 61,222 -
Transfers(Out) (1,127,996) (80,982) (1,387,924) (51,700)
Changes in Net Assets 4,820,669 1,040,455 234,257 4,030,926 1,060,418 285,361
Prior Year Adjustments 6,174,647 (382) - 790,959 (426,290) -
NETASSETS-BEGINNING 113,808,868 5,767,507 2,386,149 108,986,983 5,133,379 2,100,788
NETASSETS-ENDING $ 124,804,184 $ 6,807,580 $ 2,620,406 $ 113,808,868 $ 5,767,507 $ 2,386,149
See accompanying notes to the basic financial statements.
33
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCfinanciaCReport
Statement of Revenues,Expenses,and Changes in Fund Net Assets Detail
Proprietary Funds
For the Year Ended December 31,2009
Business Type Activities Governmental Business-type
Enterprise Funds Activities Activities
Water Sewer Process Water Stormwater Irrigation Internal Service Internal Service
Operations Operations Reuse Operations Operations Total Funds Funds
OPERATING REVENUES
Charges for Services-Internal $ - $ - $ - $ - $ - $ - $ 5,089,332 $ 627,300
Charges for Services-Other 5,734,049 6,449,138 1,720,517 462,205 717,653 15,083,562 487,472 2,613
Miscellaneous Revenue 762,310 1,020,055 6,960 1,789,325
Total Operating Revenues 6,496,359 7,469,193 1,720,517 462,205 724,613 16,872,887 5,576,804 629,913
OPERATING EXPENSES
Personal Services 1,441,659 1,371,402 221,759 313,091 266,625 3,614,536 779,620 16,800
Supplies 204,229 208,249 17,399 37,420 14,149 481,446 - -
Other Services&Charges 1,361,520 1,228,165 579,216 263,657 256,292 3,688,850 - -
Taxes 890,149 769,675 300,218 49,482 61,001 2,070,525 - -
Maintenance Expenses - - - - - - 712,201 185,356
Insurance Claims and Expenses - - - - - - 2,886,658 -
Depreciation 1,445,194 2,513,464 209,928 71,442 382,291 4,622,319 421,644 222,734
Capital Outlays 3,943 (22,122)
Total Operating Expenses 5,342,751 6,090,955 1,328,520 735,092 980,358 14,477,676 4,804,066 402,768
OPERATING INCOME(LOSS) 1,153,608 1,378,238 391,997 (272,887) (255,745) 2,395,211 772,738 227,145
NON-OPERATING REVENUES(EXPENSES)
Interest and Investment Revenue 143,708 165,825 39,520 4,275 5,942 359,270 117,778 39,497
Farmland Rentals - - 948,870 - - 948,870 - -
Interest Expense (651,157) (729,890) (219,051) - (28,674) (1,628,772) -Amortization Expense (35,215) (5,013) (10,803) - - (51,031) - -
Miscellaneous Non-Operating Revenues 85,815 183,857 269,672
Total Non-Operating Revenues(Expenses) (456,849) (385,221) 758,536 4,275 (22,732) (101,991) 117,778 39,497
Income(Loss)before Contributions and Transfers 696,759 993,017 1,150,533 (268,612) (278,477) 2,293,220 890,516 266,642
Capital Contributions 964,430 1,167,148 - 334,205 546,203 3,011,986 68,957 48,597
Transfers In - 379,459 - 264,000 - 643,459 80,982 -
Transfers(Out) (1,127,996) (1,127,996) (80,982)
Changes in Net Assets 1,661,189 1,411,628 1,150,533 329,593 267,726 4,820,669 1,040,455 234,257
Prior Year Adjustments - - - - - 6,174,647 (382) -
NET ASSETS-BEGINNING 113,808,868 5,767,507 2,386,149
NETASSETS-ENDING $124,804,184 $ 6,807,580 $ 2,620,406
See accompanying notes to the basic financial statements.
34
City of Pasco, Washington 20 0g Comprehensive AnnuaCTinanciaCPeport
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31,2009
2009 2008
Governmental Business-type Governmental Business-type
Business-type Activities Activities Business-type Activities Activities
Activities Internal Internal Activities Internal Internal
Enterprise Funds Service Funds Service Funds Enterprise Funds Service Funds Service Funds
Water/Sewer Water/Sewer
Fund Total Total Fund Total Total
CASH FLOW FROM OPERATING ACTIVITIES:
Receipts from Customers $ 17,607,699 $ 5,538,724 $ 629,913 $ 16,826,992 $ 5,186,441 $ 531,505
Payments for Maintenance&Ops. - (1,446,687) (176,620) - (1,465,135) (257,186)
Payments for Merchandise (639,072) (654,790)
Payments for Wages (3,600,121) (3,076,641)
Payments for Operating Expenses (4,412,862) (5,278,755)
Internal Activities-payments to other funds
Payments for Taxes (2,070,525) (1,903,025)
Payments to Employees (2,886,806) (2,628,376)
Net Cash provided(used)by operating activities 6,885,119 1,205,231 453,293 5,913,781 1,092,930 274,319
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES:
Prior Year Adjustments 65,365 - (426,290) -
Transfersln(Out) (561,244) 80,982 (561,244) 61,222
Non-Operating Revenue 609,405 928,453
Net Cash provided from non-capital financial activities 48,161 146,347 367,209 (365,068)
CASH FLOW FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Acquisition of Capital Assets (6,062,344) 68,957 48,597 (3,685,501) 234,525 238,162
Principal Paid on Bonds&Loans (2,808,097) - - (3,016,662) - -
Interest Paid on Bonds&Loans (1,587,970) (1,377,415)
Construction Work in Process - (7,800,560)
Proceeds of Bonds 9,941,060 -
Payments received from Notes and Loans (45,786) 11,100
Net Cash Used by Capital&Related Financing Activities (563,137) 68,957 48,597 (15,869,038) 234,525 238,162
CASH FLOWS FROM INVESTING ACTIVITIES:
Interfund Loans - - - - (75,000) (30,000)
Investment Activities Income 320,253 118,049 39,497 384,439 128,396 51,925
Net Cash Provided from Investing Activities 320,253 118,049 39,497 384,439 53,396 21,925
Net Increase(Decrease)in Cash and
Cash Equivalents 6,690,396 1,538,584 541,387 (6,378,951) 1,015,783 534,406
Cash and Cash Equivalents January 1 6,288,824 3,887,318 1,651,809 12,667,775 2,871,535 1,117,403
Cash and Cash Equivalents December 31 $ 12,979,220 $ 5,425,902 $ 2,193,196 $ 6,288,824 $ 3,887.318 $ 1,651,809
NON CASH ACTIVITIES:
Capital Contributions 3,011,807 2,824,658
See accompanying notes to the basic financial statements.
35
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCPeport
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31,2008
2009 2008
Governmental Business-type Governmental Business-type
Business-type Activities Activities Business-type Activities Activities
Activities Internal Internal Activities Internal Internal
Enterprise Funds Service Funds Service Funds Enterprise Funds Service Funds Service Funds
Water/Sewer Water/Sewer
Fund Total Total Fund Total Total
RECONCILATION OF OPERATING INCOME(LOSS)TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
Net Operati ng Income $ 2,395,211 $ 772,738 $ 227,145 $ 1,663,484 $ 636,275 $ 46,974
ADJUSTMENTS TO RECONCILE OPERATING
INCOME TO NET CASH PROVIDED(USED)BY
OPERATING ACTIVITIES
Depreciation 4,673,350 421,644 222,734 4,502,037 438,819 223,970
Changes in assets and liabilities:
(Increase)/Decrease in Customer Receivables (118,867) (38,080) - 33,958 (38,933) (39)
(Increase)/Decrease in Prepaid Expenses - (810) -
(Increase)/Decrease in Inventories 139,072 18,669
(Increase)/Decrease in Grant Receivable - 1,172
Increase/(Decrease)in Customer Deposits 576,928 - - 6,277 - -
Increase/(Decrease)in Accounts Payable 139,072 44,584 3,414 (393,055) 56,064 3,414
Increase/(Decrease)in Unclaimed Property 3,949 - - 4,094 - -
Increase/(Decrease)in Due to Other Funds - -
Increase/(Decrease)in Deferred Revenue (1,105,183) 887
Increase/(Decrease)in Taxes Payable 167,172 - (40,296) -
Increase/(Decrease)in Compensated Absences 14,415 3,951 (30,410) 705
Increase/(Decrease)in Latecomer Payable - - - -
Increase/(Decrease)in Advance Minimum Deposits 147,774
Net Cash Provide by Operating Activities $ 6,885,119 $ 1,204,837 $ 453,293 $ 5,913,781 $ 1,092,930 $ 274,319
See accompanying notes to the basic financial statements.
36
City of Pasco, Washington 2009 Comprehensive AnnualginanciaCPxport
Statement of Fiduciary Net Assets
Fiduciary Funds
December 31, 2009
2009 2008
Fire Pension Agency Fire Pension Agency
Fund Funds Fund Funds
ASSETS
Cash& Cash Equivalents $ 30,419 $ (4,520) $ 107,328 $ 285,357
Receivables (net of allowances)
Interest Receivable 14,212 - 15,597 -
Imestments, at FMV 3,520,779 - 3,113,361 -
Total Assets 3,565,410 (4,520) 3,236,286 285,357
LIABILITIES
Due to(from)Others - (4,520) - 285,357
Total Liabilities (4,520) - 285,357
NET ASSETS
Held in Trust for Pension Benefits & Other
Purposes $ 3,565,410 $ - $ 3,236,286 $ -
See accompanying notes to the basic financial statements.
37
City of Pasco, Washington 2009 Comprehensive AnnualginancialR.eport
Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
For the Year Ended December 31, 2009
2009 2008
Fire Pension Fire Pension
Fund Fund
ADDITIONS
Taxes $ 39,785 $ 41,723
Investment Earnings
Interest 61,734 61,372
Dividends 59,373 86,101
Net Increase (Decrease) in Fair Value of Investments 365,929 (1,064,918)
Loan Interest - -
Total Additions 526,821 (875,722)
DEDUCTIONS
Pension Benefits 92,145 106,764
Medical Premiums 92,352 82,963
Administrative Expenses 13,200 12,000
Total Deductions 197,697 201,727
Change In Net Assets 329,124 (1,077,449)
Prior Year Adjustments - -
NET ASSETS - BEGINNING 3,236,286 4,313,735
NET ASSETS - ENDING $ 3,565,410 $ 3,236,286
See accompanying notes to the basic financial statements.
38
City of Pasco, Uashington 20 0g Comprehensive AnnuaCTinanciaCReport
NOTES TO FINANCIAL STATEMENTS
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the City of Pasco have been prepared in conformity with generally
accepted accounting principles (GAAP) as applied to government units. The Governmental
Accounting Standards Board (GASB) is the accepted standard-setting body for establishing
governmental accounting and financial reporting principles. The significant accounting policies
are described below.
A. Reporting Entity
The City of Pasco was incorporated on May 4, 1891 and operates under the laws of the State
of Washington applicable to a Non-Charter Code City with a council/manager form of
government. As required by the generally accepted accounting principles the financial
statements present the City of Pasco as a primary government unit.
The City's primary government major operations include police and fire protection including
emergency medical response, a municipal court, engineering, street construction and
maintenance, planning and zoning, parks and recreation services, a public library and general
administrative functions. The City also owns and operates a cemetery, a water system, a
sewer system, a process water reuse system, a storm water management system and an
irrigation system.
B. Government-Wide and Fund Financial Statements
The government—wide financial statements (i.e., the Statement of Net Assets and the
Statement of Activities) report information on all of the non-fiduciary activities of the
primary government. For the most part, the effect of interfund activity has been removed
from these statements. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business-type activities, which rely
to a significant extent on fees and charges for support.
The Statement of Activities demonstrates the degree to which the direct expenses of a given
function or segment is offset by program revenues. Direct expenses are those that are clearly
identifiable with a specific function or segment. Our policy is to allocate indirect costs to a
specific function or segment. 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 segment and 2) grants and contributions that are restricted to meeting the
operational or capital requirements for a particular function or segment. Taxes and other
items not properly included among program revenues are reported instead as general
revenues.
Separate fund financial statements are provided for governmental funds, proprietary funds,
and fiduciary funds, even though the latter are excluded from the government-wide financial
39
City of Pasco, Uashington 2009 Comprehensive AnnuaCFinanciaCAeport
statements. Major individual governmental funds and major individual enterprise funds are
reported as separate columns in the fund financial statements.
C. Measurement Focus, Basis Of Accounting, And Financial Statement Presentation
The government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting, as are the proprietary fund and
fiduciary fund financial statements. Revenues are recorded when earned and expenses are
recorded when a liability is incurred, regardless of the timing of related cash flows. Property
taxes are recognized as revenues in the year for which they are levied. Grants and similar
items are recognized as revenue as soon as all eligibility requirements imposed by the
provider have been met.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized
as soon as they are both measurable and available. Revenues are considered to be available
when they are collectible within the current period or soon enough thereafter to pay liabilities
of the current period. For this purpose, the City considers revenues to be available if they are
collected within 60 days of the end of the current fiscal period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting. However, debt service
expenditures, as well as expenditures related to compensated absences and claim and
judgments, are recorded only when payment is due.
Property taxes, licenses, and interest associated within the current 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 assessment receivable due within the current fiscal period is
considered to be susceptible to accrual as revenue of the current period. All other revenue
items are considered to be measurable and available only when cash is received by the City.
The City of Pasco reports the following major governmental fund:
The General Fund is the City's operating fund. It accounts for all financial resources of the
general government, except those required to be accounted for in another fund.
The City reports the following major proprietary fund:
Water/Sewer Fund - includes water, sewer, process water reuse, stormwater and irrigation
operations.
Additionally, the City reports the following fund types:
Internal Service Funds account for equipment replacement and operation, central stores, and
medical/dental insurance services provided to other departments of the City on a cost
reimbursement basis.
40
City of Pasco, 'WashiMton 20 o.A Comprehensive AnnuaCFinanciaCReport
The Pension Trust Fund is used to account for the sources and uses of funds to meet the
pension benefit rights of those firemen covered under the Plan prior to the creation of Law
Enforcement Officers and Fire Fighters (LEOFF)pension system in 1970.
Private-sector standards of accounting and financial reporting issued prior to December 1,
1989, generally are followed in both government-wide and proprietary fund financial
statements to the extent that those standards do not conflict with or contradict guidance of the
Governmental Accounting Standards Board. Governments also have the option of following
subsequent private sector guidance for their business-type activities and enterprise funds,
subject to this same limitation. The City has elected not to follow subsequent private-sector
guidance.
As a general rule the effect of the interfund activity has been eliminated for the government-
wide financial statements.
Amounts reported as program revenues include 1) charges to customers, 2) operating grants
and contributions, and 3) capital grants and contributions, including special assessments.
Internally dedicated resources are reported as general revenues rather than as program
revenues. General revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from non-operating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund's principal ongoing operations. The
principal operating revenues of the Water/Sewer Fund are charges to customers. The major
services provided by the proprietary fund are water, sewer, storm drain, irrigation and
industrial waste water processing. Operating expenses for enterprise funds and internal
service 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 needed.
D. Budgetary Information
1. Scope of Budget
Annual appropriated budgets are adopted for the general and special revenue funds and
for all proprietary funds on the modified accrual basis of accounting. Budgets for debt
service and capital project funds are adopted at the level of the individual debt issue or
project and for fiscal periods that correspond to the lives of debt issues or projects.
Annual appropriated budgets are adopted at the level of the fund, except in the general
fund, where expenditures may not exceed appropriations at the department level and the
budgets constitute the legal authority for expenditures at that level.
41
City of Pasco, 'WashiMton 2000 Comprehensive AnnuaCginanciaCReport
Appropriations for general and special revenue funds lapse at year-end, except for
appropriations for capital outlays, which are carried forward from year to year until fully
expended or the purpose of the appropriations has been accomplished or abandoned.
Encumbrance accounting is employed in governmental funds. Encumbrances (e.g.,
purchase orders, contracts) outstanding at year end are reported as reservation of fund
balances and do not constitute expenditures or liabilities because the commitments will be
re-appropriated and honored during the subsequent year.
2. Procedures for Adopting the Original Budget
The City's budget procedures are mandated by RCW 35A.33. The steps in the budget
process are as follows:
1. Prior to the first Tuesday in November, the City Manager submits a proposed budget
to the Council. This budget is based on priorities established by the Council and
estimates provided by departments during the preceding months, and balanced with
revenue estimates made by the Finance Manager.
2. The Council conducts public hearings on the proposed budget in November and/or
December.
3. The Council makes its adjustments to the proposed budget and adopts by ordinance a
final balanced budget no later than December 31.
4. Within 30 days of adoption, the final budget is available to the public.
3. Amending the Budget
The budget, as adopted, constitutes the legal authority for expenditures. The City's
budget is adopted at the fund level, so that expenditures may not legally exceed
appropriations at that level of detail. The City Manager is authorized to transfer budgeted
amounts between departments within any fund; however, any revisions that alter the total
expenditures of a fund, or that affect the number of authorized employee positions, salary
ranges, hours, or other conditions of employment must be approved by the City Council.
When the City Council determines that it is in the best interest of the City to increase or
decrease the appropriation for a particular fund, it may do so by ordinance approved by
one more than the majority after holding one public hearing.
The budget amounts shown in the financial statements are the final authorized amounts as
revised during the year.
The financial statements contain the original and final budget information. The original
budget is the first complete appropriated budget. The final budget is the original budget
42
City of Pasco, 'Washington 2000 Comprehensive AnnuaCginanciaCReport
adjusted by all reserves, transfers, allocations, supplemental appropriations, and other
legally authorized changes applicable for the fiscal year.
4. Excess of Expenditures Over Appropriations
The following Funds exceeded their budgets as a result of the Finance Manager departing
the City in November, 2009 and new staff members not having institutional knowledge in
the City's year-end accounting practices; all of the Funds had adequate ending fund
balances to cover these amounts.
Street Fund—($33,059)
Multi-Modal Facility Fund-- ($74)
Litter Abatement Fund—($65)
Special Assessment Lodging Fund—($1,118)
Revolving Abatement Fund—($92,105)
Industrial Development & Infrastructure Fund—($29,461)
5. Deficit Fund Equity
The following funds report a deficit fund equity position at December 31, 2009.
FUNDS DEFICIT EQUITY BALANCE
Cemetery Fund (32,578)
LID Construction Fund (1,015,027)
Arterial Street Fund (1,180,144)
The following steps have been taken to eliminate the above deficits:
The Cemetery Fund continues to attempt increased sales in excess of costs to assist in the
elimination of its deficit. The fund reduced the deficit in 2009 as a result of operating
transfers and increased sales.
The LID Construction Fund will receive a funds transfer in 2010 for ULID 145 when
bonds are sold to finance this project.
The Arterial Street Fund experienced high construction costs during 2009, but had no
corresponding grant revenue to offset expenditures. However, the deficit should be
reduced substantially in 2010 since significant grant revenue is anticipated during the
year.
E. Assets, Liabilities And Equities
1. Cash and Equivalents
It is the City's policy to invest all temporary cash surpluses. At December 31, 2009, the
treasurer was holding $8,926,622 in short-term residual investments of surplus cash and
43
City of Pasco, 'Washing ton 2000 Comprehensive AnnuaCFinanciaCReport
$32,864,533 in investments longer than one year. Investment amounts maturing within
one year are classified on the balance sheet as Cash and Cash Equivalents in various
funds. Investments with maturity beyond one year are classified as Investments. The
interest earnings on these investments are prorated to the various funds based on cash
balances.
The amounts reported as cash and cash equivalents also include compensating balances
maintained with certain banks in lieu of payment for services rendered. The average
compensating balances maintained during 2009 were approximately $2 million.
For purposes of the Statement of Cash Flows, the City considers all highly liquid
investments (including restricted assets) with maturity of three months or less when
purchased to be cash equivalents.
2. Investments - See Note 4.
3. Receivables
Taxes receivable consists of property, sales, gambling, utility taxes and related interest
and penalties. (See Note 16) Accrued interest receivable consists of amounts earned on
investments, notes, and contracts at the end of the year.
Special assessments are recorded when levied. Special assessments receivable consist of
current and delinquent assessments. Deferred assessments on the fund financial
statements consist of unbilled special assessments that are liens against the property
benefited. As of December 31, 2009, $91,173 in special assessments receivable was
delinquent. Of this delinquent amount, $52,415 or 57.5% is on property that is owned by
the City and will be recovered as part of the sale price of the property.
Customer accounts receivable consists of amounts owed from private individuals or
organizations for goods and services including amounts owed for which billings have not
been prepared. Notes and contracts receivable consists of amounts owed on open
accounts from private individuals or organizations for goods and services rendered.
4. Amounts Due to and from Other Funds and Governments, Interfund Loans and
Advances Receivable
Activity between funds that are representative of lendingiborrowing arrangements
outstanding at the end of the fiscal year are referred to either "interfund loans
receivable/payable" or "advances to/from other funds." All other outstanding balances
between funds are reported as "due to/from other funds." Any residual balances
outstanding between funds are reported in the government-wide financial statements as
"internal balances." A separate schedule of interfund loans receivable and payable is
furnished in Note 15.
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City of Pasco, 'Washing ton 20 o.A Comprehensive AnnuaCginanciaCReport
Advances between funds, as reported in the fund financial statements, are offset by a fund
balance reserve account in applicable governmental funds to indicate that they are not
available for appropriation and are not expendable available financial resources.
5. Inventories
Inventories in governmental funds consist of expendable supplies held for consumption.
The cost is recorded as expenditures when individual inventory items are purchased. The
reserve for inventory is equal to the ending amount of inventory to indicate that a portion
of the fund balance is not available for future expenditures. A comparison to market
value is not considered necessary.
Inventories in proprietary funds are valued using a floating average of costs for each item.
6. Restricted Assets and Liabilities
These accounts contain resources for construction and debt service in enterprise funds.
The current portion of related liabilities is shown as Payables from Restricted Assets.
Specific debt service requirements are described in Note 10.
The restricted assets of the enterprise fund as of December 31, 2009 are composed of the
following:
Cash and Investments - Debt Service $ 1,059,761
Cash Deposits 670,436
Total Restricted Assets 1 730 197
7. Capital Assets and Depreciation - See Note 6.
Capital assets, which include property, plant, and equipment and infrastructure assets, are
reported in the applicable governmental or business-type columns in the government-
wide financial statements. Capital assets are defined by the City as assets with an initial,
individual cost of more than $5,000 and an estimated useful life in excess of three years.
Such assets are recorded at historical cost or estimated historical cost if purchased or
constructed. Donated capital assets are recorded at estimated fair market value at the date
of donation.
The cost of normal maintenance and repairs that do not add to the value of the asset or
materially expend assets lives are not capitalized.
Major outlays for capital assets and improvements are reported as Construction Work in
Progress as projects are constructed. Interest incurred during the construction phase of the
capital assets of business-type activities is included as part of the capitalized value of the
assets constructed. Capital Assets and improvements are capitalized once the project is
completed.
45
City of Pasco, Washington 2009 Comprehensive AnnuaCTinanciaCReport
There were no capitalized interest costs incurred by the City during fiscal year 2009.
Property, plant and equipment of the primary government are depreciated using the
straight-line method over the following estimated useful lives:
ASSETS YEARS
Buildings 40
Improvements 20
Machinery & Equipment 10
8. Other Property and Investments—See Note 4.
9. Compensated Absences
The City accrues accumulated unpaid vacation and sick leave and associated employee
related costs when earned (or estimated to be earned) by the employee. All vacation and
sick pay is accrued when incurred in the government-wide, proprietary, and fiduciary
fund financial statements.
Sick leave may be accumulated up to a maximum of 960 hours for all employees except
firefighters. Firefighter sick leave may be accumulated up to a maximum of 840 hours.
Sick leave is payable at a rate of 25% up to a maximum of 720 payout hours upon
resignation, retirement or death.
Vacation leave may be accumulated up to a maximum of one and a half times the
employee's annual vacation accrual rate and is payable upon resignation, retirement or
death.
10. Other Accrued Liabilities
These accounts consist of accrued wages and accrued employee benefits.
11. Long-Term Debt—See Note 10.
12. Deferred Revenue
This account includes amounts recognized as receivables but not revenues in
governmental funds because the revenue recognition criterion has not been met.
13. Fund Reserves and Designations
In the fund financial statements, governmental funds report reservations of fund balance
for amounts that are not available for appropriation or are legally restricted by outside
parties for use for a specific purpose. Designations of fund balance represent tentative
management plans that are subject to change.
46
City of Pasco, Uashinyton 200.9 Comprehensive AnnuafTinanciaCPeport
14. Reclassification of Prior Year in the Statement of Activities
Comparative total data for the prior year have been presented in order to provide an
understanding of the changes in financial position and operations. Certain amounts
presented in prior year data have been reclassified in order to be consistent with current
year's presentation.
NOTE 2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL
STATEMENTS
A. Explanation Of Certain Differences Between The Governmental Funds Balance Sheet
And The Government-Wide Statement Of Assets
The governmental fund balance sheets includes a reconciliation between fund balance —total
governmental funds and net assets — governmental activities as reported in the government-
wide statement of net assets. This information can be found on the Balance Sheet for
Government Funds.
B. Explanation Of Certain Differences Between The Governmental Funds Statement Of
Revenues, Expenditures, And Changes In Fund Balances And The Government-Wide
Statement Of Activities
The governmental funds statement of revenues, expenditures, and changes in fund balances
includes a reconciliation between net changes in fund balances — total governmental funds
and changes in net assets of governmental activities as reported in the government-wide
statement of activities. This information can be found on the Reconciliation of the Statement
of Revenues, Expenditures and Changes in Fund Balance of Governmental Funds to the
Statement of Activities.
NOTE 3. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
There have been no material violations of finance-related legal or contractual provisions.
NOTE 4. DEPOSITS AND INVESTMENTS
A. Deposits
The City's deposits and certificates of deposit are covered by federal depository insurance
(FDIC) or by collateral held in a multiple financial institution collateral pool administered by
the Washington Public Deposit Protection Commission (PDPC). The PDPC is a statutory
authority established under Chapter 39.58 of the Revised Code of Washington.
B. Investments
As required by State law, all investments of the City's funds (except as noted below) are
obligations of the U. S. Government, U. S. agency issues, obligations of the State of
47
City of Pasco, UashiAgton 2009 Comprehensive AnnuaCginanciaCReport
Washington, general obligations of Washington State municipalities, the State Treasurer's
Investment Pool, or certificates of deposits with Washington State banks and savings and
loan institutions. Investments of(pension/nonexpendable) trust funds are not subject to the
preceding limitations. All temporary investments are stated at purchase price.
Investments are shown on entity-wide Statement of Net Assets at fair market value.
Investments are reported within Cash & Cash Equivalents or Investments of Governmental
Activities and within Cash & Cash Equivalents or Investments of Business-type Activities.
The fair market value of investments is based upon quoted market prices as of December 31,
2009.
As of December 31, 2009, the City had the following investments:
FAIR MARKET
INVESTMENTS MATURITIES VALUE
Federal Securities 30,498,791 30,498,791
Mutual Funds 1,938,019 2,365,742
State Treasurer's Investment Pool 8,876,203 8,876,203
Savings Accounts 50,419 50,419
Total Investments 41,363,432 41,791,155
Custodial credit risk is the risk that in event of a failure of the counterparty to an investment
transaction the city would not be able to recover the value of the investment or collateral
securities. Of the city's total position of $41,791,155 in 2009, $1,597,312 is exposed to
custodial credit risk because the investments are held by the city's brokerage firm, which is
also the counterparty in those particular securities.
NOTE 5. PROPERTY TAXES
The County Treasurer acts as an agent to collect property taxes levied within Franklin County for
all taxing authorities. Taxes are levied annually on January 1, on property value listed as of the
prior May 31. Assessed values are established by the County Assessor at 100% of fair market
value. At least once every six years by law, the Assessor is required to physically inspect and
value all taxable real property in the County. Currently, the Assessor uses a four year review
cycle.
Taxes are due in two equal installments on April 30 and October 31. The County Treasurer
remits collections weekly to the appropriate district.
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City of Pasco, 'Washington 20 o.A Comprehensive AnnuaCginanciaCReport
The following Property Tax Calendar for Franklin County, Washington provides the relevant
property tax data for the 2009 tax year.
Franklin County, Washington
2009 Property Tax Calendar
City of Pasco
January 1 Taxes levied and become an enforceable lien against properties.
February 15 Tax bills are mailed.
April 30 First of two equal installment payments is due.
May 31 Assessed value of property established for next year's levy at
100 percent of market value.
October 31 Second installment is due.
Property taxes are recorded as a receivable and revenue when levied. Property taxes collected in
advance of the fiscal year to which they apply are recorded as deferred revenue and recognized as
revenue of the period to which they apply. No allowance for uncollected taxes is established
because delinquent taxes are considered fully collectible. Prior year tax levies were recorded
using the same principal, and delinquent taxes are evaluated annually.
The City may levy up to $3.60 per $1,000 of assessed valuation for general governmental
services, subject to two limitations:
Washington State Constitution and Washington State law, RCW 84.55.010 limits the rate. The
City's general levy for 2009 was $2.0042 per $1,000 on an assessed valuation of$2,861,340,058
for a total regular levy of$5,725,000.
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City of Pasco, -Washington 2009 Comprehensive AnnualginancialR.eport
NOTE 6. CAPITAL ASSETS
A. Capital Assets
Capital assets activity for the year ended December 31, 2009 was as follows:
Beginning
Balance Combined Combined Ending Balance
Governmental Activities 01/01/09 Increases Decreases 12/31/09
Capital assets, not being depreciated
Land $5,602,588 $1,600,431 $1,835,734 $5,367,285
Land Infrastructure 252,578 2,040,563 1,193,699 1,099,442
Construction in Progress General 502,988 2,033,358 1,236,198 1,300,148
Construction in Progress Infrastructure 483,581 3,657,825 1,696,687 2,444,719
Total capital assets, not being depreciated 6,841,735 9,332,177 5,962,318 10,211,594
Capital assets, being depreciated
Building 32,597,962 842,971 57,400 33,383,533
Improvements other than building 9,089,019 152,594 238,792 9,002,821
Machinery & Equipment 2,476,337 357,202 121,147 2,712,392
Infrastructure(1) 86,792,562 27,114,670 12,329,337 101,577,895
Equipment Rental 5,265,440 285,872 121,716 5,429,596
Equipment Animal control 92,050 0 0 92,050
Total Capital assets being depreciated 136,313,370 28,753,309 12,868,392 152,198,287
Less accumulated depreciation (3)
Building 9,105,332 861,879 7,498 9,959,713
Improvements other than Building 2,343,803 574,698 77,367 2,841,134
Machinery & Equipment 1,193,212 237,717 63,473 1,367,456
Infrastructure (1) 28,700,470 5,082,717 10,351 33,772,836
Equipment Rental 3,011,567 558,389 244,048 3,325,908
Equipment Animal control 39,726 14,019 0 53,745
Total Accumulated Depreciation 44,394,110 7,329,419 402,737 51,320,792
Total capital assets, being depreciated, net $91,919,260 $21,423,890 $12,465,655 $100,877,495
Governmental activities capital assets net $98,760,995 $30,756,067 $18,427,973 $111,089,089
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental Activities
General Government $ 375,583
Security of Persons & Property 121,473
Physical Environment 50,266
Transportation 5,098,871
Economic Environment 338,939
Culture & Recreation 747,022
Judicial 3,143
Total Depreciation- Government Activities $ 6,735,297
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City of Pasco, Washington 200A Comprehensive AnnualginanciaCPxport
Beginning
Balance Combined Combined Ending Balance
Business Activities 01/01/09 Increases Decreases 12/31/09
Capital assets, not being depreciated
Land $317,786 $6,970,842 $0 $7,288,628
Construction in Progress 3,213,130 4,866,266 - 8,079,396
Total capital assets, not being depreciated 3,530,916 11,837,108 - 15,368,024
Capital assets, being depreciated -
Source of Supply 326,976 - - 326,976
Pumping Plant 8,593,671 - - 8,593,671
Treatment Plants 38,550,427 2,742,335 - 41,292,762
Transmission, Distribution & Collection Lines(1) 93,497,247 2,927,689 - 96,424,936
General Plant Assets 3,608,907 1,100,898 - 4,709,805
West Pasco Water System 1,328,485 - - 1,328,485
Plant Acquisition 700,961 - - 700,961
Industrial Waste Water Plant 15,262,923 106,168 4,906,995 10,462,096
Storm Water 3,572,110 352,519 - 3,924,629
Irrigation (1) 18,524,824 1,410,654 - 19,935,478
Equipment Rental 2,104,799 813,392 683,315 2,234,876
Total Capital assets being depreciated 186,071,330 9,453,655 5,590,310 189,934,675
Less accumulated depreciation (3)
Source of Supply 236,339 6,540 - 242,879
Pumping Plants 3,820,505 359,220 - 4,179,725
Treatment Plants 16,283,202 1,567,252 - 17,850,454
Transmission, Distribution & Collection Lines 16,574,035 1,868,962 - 18,442,997
General Plant Assets 1,937,902 162,664 - 2,100,566
West Pasco Water System 968,426 34,918 - 1,003,344
Plant Acquisition (2) 397,210 23,365" - 420,575
Industrial Waste Water Plant 3,291,950 209,928 1,055,619 2,446,259
Storm Water 208,173 71,962 - 280,135
Irrigation (1) 1,461,100 382,291 - 1,843,391
Equipment Rental 1,103,516 410,086 332,424 1,181,178
Total Accumulated Depreciation (4) 46,282,358 5,097,188 1,388,043 49,991,503
Total capital assets, being depreciated, net $139,788,972 $4,356,467 $4,202,267 $139,943,172
Governmental activities capital assets net $143,319,888 $16,193,575 $4,202,267 $155,311,196
NOTE 7. PENSION PLANS
Substantially all City of Pasco full-time employees and qualifying part-time employees
participate in one of the following statewide retirement systems administered by the Washington
State Department of Retirement Systems, under cost-sharing, multiple-employer public employee
defined benefit and defined contribution retirement plans. The Department of Retirement
Systems (DRS), a department within the primary government of the State of Washington, issues
a publicly available comprehensive annual financial report (CAFR) that includes financial
statements and required supplementary information for each plan. The DRS CAFR may be
obtained from the Department of Retirement Systems, Communications Unit, P.O. Box 48380,
Olympia, WA 98504-8380; or it may be downloaded from the DRS website at www.drs.wa.gov.
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City of Pasco, 'Washing ton 20 o.A Comprehensive AnnuaCginanciaCReport
The following disclosures are made pursuant to GASB Statement 27,Accounting for Pensions by
State and Local Government Employers and No. 50, Pension Disclosures, an Amendment of
GASB Statements No. 25 and No. 27.
A. Public Employees' Retirement System (Pers) Plans 1, 2 And 3
1. Plan Description
PERS is a cost sharing multiple-employer retirement system comprised of three separate
plans for membership purposes: Plans 1 and 2 are defined benefit plans and Plan 3 is a
defined benefit plan with a defined contribution component.
Membership in the system includes: elected officials; State employees; employees of the
Supreme, Appeals, and Superior courts (other than judges in a judicial retirement system);
employees of legislative committees; community and technical colleges, college and
university employees (not in national higher education retirement programs); judges of
districts and municipal courts; and employees of local governments.
PERS participants who joined the system by September 30, 1977, are Plan 1 members.
Those who joined on or after October 1, 1977 and by either, February 28, 2002 for State
and higher education employees, or August 31, 2002 for local government employees, are
Plan 2 members unless they exercise an option to transfer their membership to Plan 3.
PERS participants joining the system on or after March 1, 2002 for State and higher
education employees, or September 1, 2002 for local government employees have the
irrevocable option of choosing membership in either PERS Plan 2 or PERS Plan 3. The
option must be exercised within 90 days of employment. An employee is reported in Plan
2 until a choice is made. Employees who fail to choose within 90 days default to PERS
Plan 3. Notwithstanding, PERS Plan 2 and Plan 3 members may opt out of plan
membership if terminally ill,with less than five years to live.
PERS defined benefit retirement benefits are financed from a combination of investment
earnings and employee and employer contributions. PERS retirement benefit provisions
are established in State statute and may be amended only by the State Legislature.
PERS Plan 1 members are vested after the completion of five years of eligible service.
Plan 1 members are eligible for retirement after 30 years of service, or at the age of 60
with five years of service, or at the age of 55 with 25 years of service. The annual benefit
is two percent of the average final compensation (AFC) per year of service, capped at 60
percent. (The AFC is based on the greatest compensation during any 24 eligible
consecutive compensation months.) This annual benefit is subject to a minimum for
PERS Plan 1 retirees who have 25 years of service and have been retired 20 years, or who
have 20 years of service and have been retired 25 years. Plan 1 members who retire from
inactive status prior to the age of 65 may receive actuarially reduced benefits. If a
survivor option is chosen, the benefit is further reduced. A cost-of-living allowance
(COLA) is granted at age 66 based upon years of service times the COLA amount,
increased three percent annually. Plan 1 members may also elect to receive an optional
52
City of Pasco, Washington 20 o.A Comprehensive AnnuaCFinanciaCReport
COLA amount that provides an automatic annual adjustment based on the Consumer
Price Index. The adjustment is capped at three percent annually. To offset the cost of this
annual adjustment, the benefit is reduced. PERS Plan 2 members are vested after the
completion of five years of eligible service. Plan 2 members may retire at the age of 65
with five years of service with an allowance of two percent of the AFC per year of
service. (The AFC is based on the greatest compensation during any eligible consecutive
60 month period.) Plan 2 members who retire prior to age 65 receive reduced benefits. If
retirement is at age 55 or older with at least 30 years of service, a three percent per year
reduction applies; otherwise an actuarial reduction will apply. The benefit is also
actuarially reduced to reflect the choice of a survivor option. There is no cap on years of
service credit; and a cost-of-living allowance is granted (based on the Consumer Price
Index), capped at three percent annually.
Plan 3 has a dual benefit structure. Employer contributions finance a defined benefit
component, and member contributions finance a defined contribution component. The
defined benefit portion provides a benefit calculated at one percent of the AFC per year of
service. (The AFC is based on the greatest compensation during any eligible consecutive
60-month period.) Effective July 7, 2006, Plan 3 members are vested in the defined
benefit portion of their plan after ten years of service; or after five years of service, if
twelve months of that service are earned after age 44; or after five service credit years
earned in PERS Plan 2 prior to June 1, 2003. Plan 3 members are immediately vested in
the defined contribution portion of their plan. Vested Plan 3 members are eligible to
retire with full benefits at age of 65, or they may retire at age 55 with 10 years of service.
PERS Plan 3 members who retire prior to the age of 65 receive reduced benefits. If
retirement is at age 55 or older with at least 30 years of service, a three percent per year
reduction applies; otherwise an actuarial reduction will apply. The benefit is also
actuarially reduced to reflect the choice of a survivor option. There is no cap on years of
service credit, and Plan 3 provides the same cost-of-living allowance as Plan 2.
The defined contribution portion can be distributed in accordance with an option selected
by the member, either as a lump sum or pursuant to other options authorized by the
Employee Retirement Benefits Board.
Judicial Benefit Multiplier
Beginning January 1, 2007 through December 31, 2007,judicial members of PERS were
given the choice to participate in the Judicial Benefit Multiplier Program (JBM) enacted
in 2006. Justices and judges in PERS Plan 1 and 2 were able to make a one-time
irrevocable election to pay increased contributions that would fund a retirement benefit
with a 3.5 percent multiplier. The benefit would be capped at 75 percent of AFC. Judges
in PERS Plan 3 could elect a 1.6 percent of pay per year of service benefit, capped at 37.5
percent of average compensation.
Members who chose to participate in JBM would: accrue service credit at the higher
multiplier beginning with the date of their election, be subject to the benefit cap of 75
percent of AFC, pay higher contributions, stop contributing to the Judicial Retirement
Account (JRA), and be given the option to increase the multiplier on past judicial service.
53
City of Pasco, 'Washington 20 o.A Comprehensive AnnuaCginanciaCReport
Members who did not choose to participate would: continue to accrue service credit at the
regular multiplier; continue to participate in the JRA, if applicable; never be a participant
in the JBM Program; and continue to pay contributions at the regular PERS rate.
Newly elected or appointed justices and judges who chose to become PERS members on
or after January 1, 2007, or who had not previously opted into PERS membership, were
required to participate in the JBM Program. Members required into the JBM program
would: return to prior PERS Plan if membership had previously been established; be
mandated into Plan 2 and not have a Plan 3 transfer choice, if a new PERS member;
accrue the higher multiplier for all judicial service; not contribute to JRA; and not have
the option to increase the multiplier for past judicial service.
There are 1,192 participating employers in PERS. Membership in PERS consisted of the
latest actuarial valuation data for the plans of June 30, 2008:
Retirees and Beneficiaries Receiving Benefits 73,122
Terminated Plan Members Entitled To but not yet Receiving Benefits 27,267
Active Plan Members Vested 105,212
Active Plan Members Non-vested 56,456
Total 262,057
2. Funding olicy
Each biennium, the State Pension Funding Council adopts Plan 1 employer contribution
rates, Plan 2 employer and employee contribution rates, and Plan 3 employer contribution
rates. Employee contribution rates for Plan 1 are established by statute at 6 percent for
State agencies and local government unit employees, and at 7.5 percent for State
government elected officials. The employer and employee contribution rates for Plan 2
and the Employer contribution rate for Plan 3 are developed by the Office of the State
Actuary to continue to fully fund Plan 2 and the defined benefit portion of Plan 3. All
employers are required to contribute at the level established by the Legislature. Under
PERS Plan 3, employer contributions finance the defined benefit portion of the plan, and
member contributions finance the defined contribution portion. The Employee
Retirement Benefits Board sets PERS Plan 3 employee contribution rates. Six rate
options are available ranging from 5 percent to 15 percent; two of the options are
graduated rates dependent on the employee's age. As a result of the implementation of
the Judicial Benefit Multiplier Program in January 2007, a second tier of employer and
employee rates was developed to fund, along with investment earnings, the increased
retirement benefits of those justices and judges that participate in the program. The
methods used to determine the contribution requirements are established under State
statute in accordance with chapters 41.40 and 41.45 RCW.
The required contribution rates expressed as a percentage of current-year covered payroll,
as of December 31, 2009, were as follows:
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City of Pasco, Washington 200g Comprehensive AnnuaCTinanciaCReport
Members not participating in JBM:
PERS Plan 1 PERS Plan 2 PERS Plan 3
Employer* 5.31%** 5.31%** 5.31%***
Employee 6.00%**** 3.90%**** *****
*The employer rates do not include the employer administrative expense fee currently set at 0.16%.
** The employer rate for State elected officials is 7.89%for Plan 1 and 5.31%for Plan 2 and 3.
***Plan 3 defined benefit portion only.
**** The employee rate for State elected officials is 7.50%for Plan 1 and 3.90%for Plan 2.
*****Variable from 5.0%minimum to 15.0%maximum based on rate selected by the PERS 3 member.
Members participating in JBM:
PERS Plan 1 PERS Plan 2 PERS Plan 3
Employer-State Agency* 7.81% 7.81% 7.81%**
Employer-Local Govt.* 5.31% 5.31% 5.31%**
Employee-State Agency 9.76% 7.25% 7.50%***
Employee-Local Govt. 12.26% 9.75% 7.50%***
*The employer rates do not include the employer administrative expense fee currently set at 0.16%.
**Plan 3 defined benefit portion only.
***Minimum rate.
Both the City and the employees made the required contribution. The City's required
contributions for the years ended December 31,were as follows:
PERS Plan 1 PERS Plan 2 PERS Plan 3
2009 $ 39,492 $ 533,321 $ 84,383
2008 $ 40,277 $ 482,824 $ 84,170
2007 $ 33,638 $ 356,299 $ 62,010
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City of Pasco, 'Washington 2000 Comprehensive AnnuaCTinanciaCAeport
B. Law Enforcement Officers And Fire Fighters (Leoff) Plans 1 & 2
1. Plan Description
LEOFF is a cost sharing multiple employer retirement system comprised of two separate
defined benefit plans. LEOFF participants who joined the system by September 30, 1977
are Plan 1 members. Those who joined on or after October 1, 1977 are Plan 2 members.
Membership in the system includes all full-time, fully compensated, local law
enforcement officers, firefighters, and as of July 24, 2005, those emergency medical
technicians who were given the option and chose LEOFF Plan 2 membership. LEOFF
membership is comprised primarily of non-State employees, with Department of Fish and
Wildlife enforcement officers, who were first included prospectively effective July 27,
2003, being an exception.
Effective July 1, 2003, the LEOFF Plan 2 Retirement Board was established by Initiative
790 to provide governance of LEOFF Plan 2. The Board's duties include adopting
contribution rates and recommending policy changes to the Legislature for the LEOFF
Plan 2 retirement plan.
LEOFF defined benefits are financed from a combination of investment earnings,
employee and employer contributions, and a special funding situation in which the State
pays the remainder through State legislative appropriations. LEOFF retirement benefit
provisions are established in State statute and may be amended only by the State
Legislature.
LEOFF Plan 1 members are vested after completion of five years of eligible service. Plan
1 members are eligible for retirement with five years of service at age 50. The benefit per
year of service calculated as a percent of final average salary (FAS) is as follows:
Term of Service Percent of Final Average
20 or more years 2.0%
10 but less than 20 years 1.5%
5 but less that 10 years 1.0%
The FAS is the basic monthly salary received at the time of retirement, provided a
member has held the same position or rank for 12 months preceding the date of
retirement. Otherwise, it is the average of the highest consecutive 24 months' salary
within the last 10 years of service. A cost-of-living allowance is granted (based on the
Consumer Price Index).
LEOFF Plan 2 members are vested after the completion of five years of eligible service.
Plan 2 members may retire at the age of 50 with 20 years of service, or at the age of 53
with five years of service, with an allowance of two percent of the FAS per year of
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City of Pasco, 'WashiMton 2000 Comprehensive AnnuaCginanciaCReport
service. The (FAS) salary is based on the highest consecutive 60 months. Plan 2 who
retire prior to the age of 53 receive reduced benefits. Benefits are actuarially reduced for
each year that the benefit commences prior to age 53 and to reflect the choice of a
survivor option. If the member has at least 20 years of service and is age 50, the
reduction is three percent for each year prior to age 53. There is no cap on years of
service credit; and a cost-of-living allowance is granted (based on the Consumer Price
Index) capped at three percent annually.
There are 375 participating employers in LEOFF. Membership in LEOFF consisted of
the following as of the latest actuarial valuation date for the plans of June 30, 2008:
Retirees and Beneficiaries Receiving Benefits 9,268
Terminated Plan Members Entitled to but not yet Receiving Benefits 650
Active Plan Members Vested 13,120
Active Plan Members Non-vested 3,927
Total $ 26,965
2. Funding olicy
Starting on July 1, 2000, LEOFF Plan 1 employers and employees contribute zero
percent as long as the plan remains fully funded. Employer and employee contribution
rates are developed by the Office of the State Actuary to fully fund the plan. LEOFF
Plan 2 employers and employees are required to pay at the level adopted by the LEOFF
Plan 2 Retirement Board. All employers are required to contribute at the level required
by State law. The Legislature, by means of a special funding arrangement, appropriated
money from the State General Fund to supplement the current service liability and fund
the prior service costs of LEOFF Plan 2 in accordance with the requirements of the
Pension Funding Council and the LEOFF Plan 2 Retirement Board. However, this
special funding situation is not mandated by the State constitution and this funding
requirement could be returned to the employers by a change of statute.
The required contribution rates expressed as a percentage of current year covered
payroll, as of December 31, 2009 were as follows:
LEOFF Plan 1 LEOFF Plan 2
Employer* 0.16% 5.24%**
Employee 0.00% 8.46%
State N/A 3.38%
*The employer rates include the employer administrative expense fee currently set at 0.16°/x.
**The employer rate for ports and universities is 8.99%.
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City of Pasco, 'Washing ton 2000 Comprehensive AnnuaCginanciaCReport
Both the City and the employees made the required contributions. The City's required
contributions for the year ended December 31,were as follows:
LEOFF Plan 1 LEOFF Plan 2
2009 $ 818 $ 495,665
2008 $ 812 $ 444,557
2007 $ 765 $ 404,634
The City does not have any employees enrolled in the Public Safety Employees Retirement
System(PERS) Plan 2.
C. Firemen's Pension
The City administers a closed, small single-employer defined benefit plan called the
Firemen's Pension Fund. The system is shown as a trust fund in the financial reports of the
City.
As of December 31, 2009, there were a total of 12 individuals covered by this system, and 4
of the 12 are widows.
The most recent actuarial study of the system was performed by EFI Actuaries to determine
the funding requirements as of September 30, 2005. As of this date, the market value (based
on market quotes) of the plan assets was $3,920,949 and the present value of future benefits
was $2,820,461. The actuarial computation was performed using the entry age normal cost
method. Under this method the projected benefits are allocated on a level basis as a
percentage of salary over the earnings of each individual between entry age and assumed exit
age. The actuarial accrued liability is amortized as a level dollar amount over a closed 30-
year period beginning September 30, 2005. The actuarial assumptions used in this valuation
are as follows: Investment Return — 6.25% per year net of investment and administrative
expenses; Consumer Price Index Increases — 3 % per year; Salary Increases — 5% per year in
each member's rank at retirement; Medical Cost Inflation — 5.75% per year; Pre-retirement
decrements — No termination, death disablement, or mortality rates are assumed for active
employees; Retirement —Active employees are assumed to retire at the later of age 50 or 25
years of service; Post retirement mortality — RP-2000 male and female mortality rates; and
Family Composition — all members are assumed to be married with no children eligible for
benefits. Wives are assumed to be three years younger than their husbands. Surviving
spouses are assumed not to remarry.
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City of Pasco, -Washington 2009 Comprehensive AnnualginancialR.eport
The following 10-year table of historical trend information shows the system's progress in
accumulating sufficient assets to pay benefits when due:
Net Assets Unfunded Unfunded Pension Benefits
Available for Pension Benefit Pension Benefit Annual Covered as a% of Covered
Fiscal Year Benefit* Obligation** Percent Funded Obligation Payroll*** Payroll
2009 3,565,410 3,111,039 114.61% (454,371) 35,419 -1282.85%
2008 3,214,175 3,035,160 105.90% (179,015) 78,486 -228.09%
2007 4,316,568 2,963,247 145.67% (1,353,321) 80,074 -1690.09%
2006 4,231,745 2,890,973 146.38% (1,340,772) 92,979 -1442.02%
2005 3,946,652 2,820,461 139.93% (1,126,191) 70,376 -1600.25%
2004 3,913,393 2,792,414 140.14% (1,120,979) 69,939 -1602.80%
2003 3,774,259 2,724,306 138.54% (1,049,953) 72,770 -1442.84%
2002 3,384,775 2,657,860 127.35% (726,915) 88,284 -823.38%
2001 3,668,413 2,593,034 141.47% (1,075,379) 69,173 -1554.62%
2000 3,663,819 2,529,789 144.83% (1,134,030) 63,364 -1789.71%
* Market Value
** Actuarial study completed in 2005
Last eligible employee retired during 2009
The Fire Pension Fund has no Schedule of Contributions for 2009. The liabilities for future fund
benefits are less than the market value of fund assets; consequently, no City contributions are
required.
Schedule of Funding Progress
Unfunded
Pension
Actuarial Actuarial
Valuation Value of Value of Benefit Percentage
Date Assets Liabilities Obligation Funded
09/30/2005 $3,920,949 $2,820,461 ($1,100,488) 139.02%
12/31/1999 $3,467,025 $2,468,087 ($ 998,938) 140.47%
12/31/1984 $ 869,788 $1,501,537 $ 238,724 57.930
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City of Pasco, 'Washington 2000 Comprehensive AnnuafTinanciaCAeport
The following is the three-year historical data of Revenues and Expenditures.
Revenues Expenditures
Interest Fire Ins. Total
Income Prem. Tax Revenues Pension Costs
2009 $ 121,107 $ 39,785 $ 160,892 $ 197,697
2008 $ 147,473 $ 41,723 $ 189,196 $ 201,727
2007 $ 292,828 $ 40,123 $ 332,951 $ 181,635
NOTE 8. RISK MANAGEMENT
The City maintains insurance against most normal hazards except for unemployment insurance
and automobile collision where it has elected to become self-insured.
For unemployment claims, the City is on a 100% reimbursable program with the State where the
City pays all unemployment claims charged against it.
The City of Pasco is a member of the Washington Cities Insurance Authority (WCIA).
Utilizing Chapter 48.62 RCW (self-insurance regulations) and Chapter 39.34 RCW (Interlocal
Cooperation Act), nine cities originally formed WCIA on January 1, 1981. WCIA was created
for the purpose of providing a pooling mechanism for jointly purchasing insurance, jointly self-
insuring, and / or jointly contracting for risk management services. WCIA has a total of 132
members.
New members initially contract for a three-year term, and thereafter automatically renew on an
annual basis. A one-year withdrawal notice is required before membership can be terminated.
Termination does not relieve a former member from its unresolved loss history incurred during
membership.
Liability coverage is written on an occurrence basis, without deductibles. Coverage includes
general, automobile, police professional, public officials' errors and omissions, stop gap, and
employee benefits liability. Limits are $4 million per occurrence in the self insured layer, and
$16 million per occurrence in the re-insured excess layer. The excess layer is insured by the
purchase of reinsurance and insurance and is subject to aggregate limits. Total limits are $20
million per occurrence subject to aggregate sub-limits in the excess layers. The Board of
Directors determines the limits and terms of coverage annually.
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Cit3i of Pasco, 'Washington 2000 Comprehensive AnnuaCginanciaCReport
Insurance coverage for property, automobile physical damage, fidelity bonds, inland marine, and
boiler and machinery are purchased on a group basis. Various deductibles apply by type of
coverage. Property insurance and auto physical damage are self-funded from the member's
deductible to $500,000, for all perils other than flood and earthquake, and insured above that
amount by the purchase of reinsurance. (City does not participate in these programs; all is
purchased through commercial broker as identified on this page).
In-house services include risk management consultation, loss control field services, claims and
litigation administration, and loss analyses. WCIA contracts for the claims investigation
consultants for personnel issues and land use problems, insurance brokerage and lobbyist
services.
WCIA is fully funded by its members, who make annual assessments on a prospectively rated
basis, as determined by an outside, independent actuary. The assessment covers loss, loss
adjustment, and administrative expenses. As outlined in the interlocal, WCIA retains the right to
additionally assess the membership for any funding shortfall.
An investment committee, using investment brokers, produces additional revenue by investment
of WCIA's assets in financial instruments which comply with all State guidelines. These
revenues directly offset portions of the membership's assessment.
A Board of Directors governs WCIA, which is comprised of one designated representative from
each member. The Board elects an Executive Committee and appoints a Treasurer to provide
general policy direction for the organization. The WCIA Executive Director reports to the
Executive Committee and is responsible for conducting the day-to-day operations of WCIA.
Property, Inland Marina, boiler, machinery and employee fidelity insurance is purchased through
commercial insurance brokers.
The City is self-insured for medical and dental coverage for its employees. A third party
administrator, Benefits Management, Inc. processes all claims for reimbursement. The third
party administrator provides utilization management services and requires pre-authorization for
all non-emergency hospital confinements. It is the City's policy to maintain at least four months
of average monthly claims in cash reserves. To limit the exposure for large claims, the City
purchases individual stop-loss coverage from a commercial insurance carrier that limits the City's
exposure for claim losses to $80,000 per individual.
NOTE 9. SHORT-TERM DEBT
The City does not currently have any short-term debt issuances in either governmental or
proprietary activities.
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City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
NOTE 10. LONG-TERM DEBT
A. Long-Term Debt
The City issues general obligations and revenue bonds to finance capital improvements such
as bridges, streets, municipal buildings and enterprise facilities such as water and sewer
utilities. Bonded indebtedness has also been entered into (currently and in prior years) to
advance refund several general obligation and revenue bonds. General obligation bonds have
been issued for both general government and business-type activities and are being repaid
from the applicable resources. Proprietary fund revenues are used to repay revenue and
refunding bonds. The City is also liable for notes that were entered into for the purchase of
the TRAC Facility, a fire truck,Animal Control facilities and Police equipment. These notes
are considered obligations of the general government and are being repaid with general
governmental revenue sources.
The City also has outstanding notes for Special Assessments. These represent Interfund
loans from the Water/Sewer Fund to the Special Assessment Funds. These assessments are
for sewer lines and street improvements.
General obligation bonds currently outstanding are as follows:
Interest Maturity Original Remaining
Purpose Rate Date Amount Balance
1999 GOB Library Bond 4.50-5.50% 12/1/2019 $ 1,700,000 $ 1,000,000
2001 CLID 135 Bond 5.75% 11/2012 536,975 15,000
2001 LTGO Bond 2.00-4.70% 12/1/2020 6,900,000 5,015,000
2002 LTGO &Refunding 5.72% 4/1/2022 3,635,000 2,555,000
Bond
2002 UTGO Refunding Bond 2.50-4.00% 1 12/1/2013 1 3,155,000 1 1,375,000
Total $ 15,926,975 $ 9,960,000
The annual debt service requirements to maturity for general obligation bonds are as follows:
Governmental Activities Business Type Activities
Year Ended December 31 Principal Interest Principal Interest
2010 $ 1,005,000 $ 455,200 - -
2011 1,035,000 410,878 - -
2012 1,075,000 364,634 - -
2013 1,110,000 318,776 - -
2014-2018 3,815,000 997,330 - -
2019-2023 1,905,000 156,245 - -
Total $ 9,960,000 $ 2,703,063 - -
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City of Pasco, 'Washing ton 2009 Comprehensive AnnuafTinanciaCAeport
The revenue bonds currently outstanding are as follows:
Interest Maturity Original Bond Remaining
Purpose Rate Date Amount Balance
1998 Water/Sewer Series A Bonds 5.50-6.45% 6/1/2018 $ 2,255,000 $ 1,420,000
1998 Water/Sewer Series B Bonds 3.80-4.60% 6/1/2014 6,725,000 4,120,000
1998 Water/Sewer Series C Bonds 3.70-4.80% 6/1/2014 1,515,000 315,000
1999 Water/Sewer Bonds 4.10-5.80% 9/1/2016 985,000 535,000
2001 Water/Sewer Bonds 3.50-4.85% 9/1/2016 995,000 435,000
2002 Water/Sewer Bonds 2.00-4.70% 12/1/2022 5,945,000 4,550,000
2005 Water/Sewer Bonds 3.50-4.25% 12/5/2025 4,400,000 3,900,000
2007 Water/Sewer Bonds 4.25-4.75% 9/01/2022 845,000 795,000
2009 Water/Sewer Bonds 3.00-4.75% 5/01/2029 10,045,000 10,045,000
Total $ 33,710,000 $ 24,710,000
Revenue bond debt service requirements to maturity are as follows:
Year Ended December 31 Principal Interest
2010 $ 1,825,000 $ 1,042,812
2011 1,895,000 967,272
2012 1,855,000 891,143
2013 1,925,000 813,057
2014-2018 7,235,000 2,631,200
2019-2023 5,705,000 1,363,739
2024-2028 3,610,000 497,240
2029-2033 660,000 15,675
Total $ 245710,000 $ 8,222,138
Loan and Note obligations currently outstanding are as follows:
Original
Interest Maturity Bond Remaining
Purpose Rate Date Amount Balance
State LOCAL Loan—Animal Control 6.24% 12/1/2016 $ 275,500 $ 159,412
State LOCAL Loan—Computers 3.46786% 6/1/2013 200,000 176,111
TRAC Loan 4.50- 5.50% 12/1/2014 1,197,931 451,035
Port of Pasco Airport Fire Building 4.00% 7/12/2016 120,000 84,261
State Revolving Loan 1.00% 10/31/2015 23,700,000 14,4235946
PWTF Loan#9502—Sewer Plant 1.00% 6/30/2015 812,700 258,068
PWTF Loan#95026—Water Reservoir 1.00% 6/30/2015 2,687,300 644,252
PWTF Loan#691043 1.00% 6/30/2020 1,890,000 1,222,544
Total $ 30,883,431 $ 17,419,629
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City of Pasco, 'Washington 20 o.A Comprehensive AnnuafTinanciaCAeport
Loan and Note debt service requirements to maturity are as follows:
Governmental Activities Business-T e Activities
Year Ended December 31 Principal Interest Principal Interest
2010 $ 158,125 $ 40,264 $ 1,487,276 $ 515,454
2011 170,140 33,156 1,530,553 469,563
2012 173,497 25,431 1,575,358 422,143
2013 151,150 17,550 1,621,744 373,141
2014-2018 217,908 16,246 8,412,744 1,075,804
2019-2023 0 0 1,921,134 48,892
Total $ 870,820 $ 132,647 $ 16,548,809 $ 2,904,997
In proprietary funds, unamortized debt issue costs are recorded as deferred charges and bonds are
displayed net of premium or discount; annual interest expense is decreased by amortization of
debt premium and increased by the amortization of debt issue costs and discount.
At December 31, 2009, the City has $319,727 available in the debt service funds to service the
general bonded debt, which is not unusual because the major portion of debt service is paid out
toward the end of the year. Restricted assets in proprietary funds contain $1,059,761 in sinking
funds and reserves as required by bond indentures.
B. Refunded Debt
The City did not issue any refunded debt during 2009.
NOTE 11. LEASES
The City does not currently have any capital or operating leases.
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City of Pasco, Washington 200.9 Comprehensive AnnuafTinanciaCAeport
NOTE 12. CHANGES IN LONG-TERM LIABILITIES
During the year ended December 31, 2009, the following changes occurred in long-term
liabilities:
Beginning Ending Due Within
Balance Balance One Year
01/01/09 Additions Reductions 12/31/09
Governmental Activities
Bonds Payable:
General obligation
bonds, special
assessment debt with $ 11,035,000 - $ 1,075,000 $ 9,960,000 $ 1,055,000
govt. commitment
Loans and Notes 828,216 42,604 - 870,820 158,125
Compensated Absences 1,604,142 81,530 - 1,685,672 1,685,672
Governmental Activity
Long-Term Liabilities $ 13,467,358 $ 124,134 $ 1,075,000 $ 12,516,492 $2,898,797
Business-Type Activities
Bonds Payable:
General obligation
bonds,revenue bonds $ 16,070,000 $ 7,195,000 - $24,710,000 $ 1,825,000
Loans and Notes 18,055,847 0 1,507,038 16,548,809 1,487,276
Compensated Absences 137,630 14,416 - 152,046 152,046
Business-Type Activity
Long-Term Liabilities $ 34,263,477 $ 7,209,416 $ 1,507,038 $41,410,855 $ 3,464,322
Internal Service funds are separate for governmental and proprietary activities. Long-term
liabilities for them are included as part of the above totals under their respective activity.
Compensated absences are included in the above amounts. Also, for the governmental activities,
claims and judgments and compensated absences are generally liquidated by the general fund.
NOTE 13. CONTINGENCIES AND LITIGATION
The City has recorded in its financial statements all material liabilities, including applicable
estimates for situations that are not yet resolved but where, based on available information,
management believes it is probable that the City will have to make payment. In the opinion of
management, the City's insurance policies and self-insurance reserves are adequate to pay all
known or pending claims.
As discussed in Note 10, the City is contingently liable for repayment of refunded debt.
The City participates in a number of Federal and State assisted programs. These grants are
subject to audit by the grantor or representative. Such audits could result in requests for
reimbursement to grantor agencies for expenditures disallowed under the terms of the grants.
However, City management believes that such disallowances, if any,will be immaterial.
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City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
NOTE 14. RESTRICTED NET ASSETS
The government-wide statement of net assets reports $3,551,107 of restricted net assets, of which
$3,551,107 is restricted by enabling legislation.
NOTE 15. INTERFUND BALANCES AND TRANSFERS
A. Classification Of Interfund Transactions
Interfund transactions are classified as follows:
1. Transactions that would be treated as revenues, expenditures or expenses if they involved
external organizations, such as buying goods and services or payments in lieu of taxes,
are similarly treated when they involve other funds of the City.
2. Transfers to support the operations of other funds are recorded as "Transfers" and
classified with "Other Financing Sources or Uses."
3. Contributions to the capital of enterprise or internal service funds, (transfers between
those funds and the general fixed assets account group) transfers to establish or reduce
working capital in other funds, and transfers of remaining balances when funds are
closed, are classified as "Transfers" and are reported as direct additions to or deductions
from net assets.
4. Loans between funds are classified as Interfund loans receivable and payable or as
advances to and from other funds on the fund balance sheets depending on the time period
for which the loan was made. Interfund loans do not affect total fund equity, but
advances to other funds are offset by a reservation of fund equity.
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Cit3j of Pasco, Washington 20 0g Comprehensive AnnuaCTinanciaCReport
B. Interfund Loan Balances
Interfund balances at December 31, 2009 were as follows:
Due From
All Other
Purpose Funds Total
,, General Fund Start-up loans for new funds &
negative cash balance loans $1,327,800 $1,327,800
Q Water/Sewer Fund LID loans & Equip Rental Op 15,062 15,062
All Other Funds LID and Capital Improvement loans 659,365 659,365
Total $ 2,002,227 $ 2,002,227
C. Interfund Transfers
Interfund transfers at December 31, 2009 were as follows:
Transfer From
o General Water/Sewer All Other
F- Fund Fund Funds Total
General Fund $ 0 $ 0 $ 119,676 $ 119,676
Water/Sewer Fund 0 0 643,459 643,459
H All Other Funds 1,950,796 1,127,996 2,315,657 5,394,449
Total 1 $ 1,950,7961 $ 1,127,996 $ 3,078,792 1 $ 6,157,584
Interfund transfers are used to fund ongoing operations such as ambulance services, senior
center activities, recreation activities, street repair and maintenance, and transfers between
Local Improvement District funds and the Water/Sewer Fund.
NOTE 16. RECEIVABLE AND PAYABLES BALANCES
A. Receivables at December 31, 2009 were as follows:
ACCOUNTS AMOUNTS
Governmental Activities
Taxes $ 417,987
Customer Accounts 2,506,935
Due from Other Funds 2,164
Interest Receivable 127,873
Other Receivables 5,937,834
Total Governmental Activities $8,992,793
Business-type Activities
Utility Receivables $ 678,062
Other Receivables 333,036
Due from Other Funds 15,062
Interest Receivable 67,694
Total Business-type Activities $ 1,093,854
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City of Pasco, 'Washington 2000 Comprehensive AnnuaCFinanciaCReport
Special Assessment receivables represent $3,613,004 of the balance of outstanding Customer
Accounts receivable at year end December 31, 2009. Of this amount $91,173 represents
delinquent Special Assessments receivable.
B. Payables at December 31, 2009, were as follows:
ACCOUNTS AMOUNTS
Governmental Activities
Accounts Payable $ 1,312,203
Due to Other Govt. Units 90,808
Deposits Payable 420,182
Unclaimed Property 6,801
Other Payables 504,849
Claims Incurred Not Reported 550,000
Deferred Revenue 4,641,885
Due within One Year 2,732,534
Due in More than One Year 10,674,710
Total Governmental Activities $ 20,933,972
Business-type Activities
Accounts Payable $ 947,467
Due to Other Govt. Units 49,702
Retainage Payable 150,202
Interest Payable 400,703
Deposits Payable 670,438
Deferred Revenue (156,918)
Unclaimed Property 29,031
Due within One Year 3,064,082
Due in More than One Year $ 38,346,771
Total Business-type Activities $ 43,501,478
NOTE 17. SEGMENT INFORMATION
The City's only Enterprise Fund is the Water/Sewer Fund. The services provided by this fund
are water, sewer, process water reuse, storm water and irrigation operations. These services are
not broken out into separate segments but are reported as one fund in the fund statements.
NOTE 18. JOINT VENTURES
A. Bi-County Police Information Network
The Bi-County Police Information Network (BI-PIN) was established November 24, 1982,
when an Interlocal Agreement was entered into by five participating municipal corporations,
the cities of Kennewick, Pasco, and Richland, and Benton and Franklin Counties. BI-PIN
was established to assist the participating police and sheriffs departments in the deterrence
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City of Pasco, 'Washing ton 2000 Comprehensive AnnuaCginanciaCReport
and solution of criminal incidents. BI-PIN is served by an Executive Committee composed
of the City Manager of each of the cities and a member from each of the Boards of County
Commissioners of Benton and Franklin Counties. A liaison from the Bi-County Chiefs and
Sheriffs is an ex officio, non-voting member.
The allocation of financial participation among the participating jurisdictions is based upon
the approved budget for that year and is billed quarterly in advance to each agency. On
dissolution of the Interlocal Agreement, the net assets will be shared based upon participant
contribution.
Effective January 1, 1992, the City of Kennewick assumed responsibility for the operation of
the BI-PIN system. As the Operating Jurisdiction, the City provides all necessary support
services for the operation of BI-PIN such as accounting, legal services, risk management and
information systems. The total amount paid by BI-PIN in 2009 for these transactions was
$118,999.
The City of Pasco's equity interest in BI-PIN was $211,660 on December 31, 2009, which is
reported as investment in joint ventures in the government-wide statement of net assets. The
change in equity is reflected in the government-wide statement of activities under Public
Safety. The City does not anticipate any income distribution from BI-PIN since charges are
assessed only to recover anticipated expenses.
Complete separate financial statements for BI-PIN may be obtained at the City of
Kennewick, 210 West Sixth Avenue, Kennewick, Washington.
B. Emergency Medical Services
The Emergency Medical Services (EMS) joint venture was dissolved in the fall of 2007, at
which time the net assets were distributed based on the direction of the EMS Administrative
Board. In conjunction with the dissolution of EMS, the City of Pasco entered into a series of
Interlocal Agreements with each participating agency to provide oversight for the
administrative clerical support for the emergency medical services Medical Program Director
(MPD) for Benton and Franklin Counties.
C. Metro Drug Forfeiture Fund
The Metropolitan Controlled Substance Enforcement Group (Metro) was established prior to
1987, when six participating municipal corporations entered into an Interlocal Agreement.
These entities include the cities of Kennewick, Pasco, Richland, and West Richland, and
Benton and Franklin Counties. Metro was established to account for the proceeds of
forfeitures, federal grants, and court ordered contributions, and to facilitate the disbursement
of those proceeds for the purpose of drug enforcement and investigations. Metro is served by
an Executive Committee composed of the City Manager, or designee, of each of the cities and
a member from each of the Boards of County Commissioners of Benton and Franklin
Counties. In addition, a Governing Board, consisting of the Police Chiefs from each of the
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City of Pasco, 'WashiMton 20 o.A Comprehensive AnnuaCFinanciaCReport
cities and the Sheriffs and Prosecuting Attorneys from the two counties, administers daily
activity.
Effective July 1, 2009, the City of Kennewick assumed responsibility for the operation of
Metro. As the Operating Jurisdiction, the City provides all necessary support services for the
operation of Metro such as accounting, legal services and risk management.
The City of Pasco's equity interest in Metro was $41,126 on June 30, 2009, which is reported
as an investment in joint ventures in the government-wide statement of net assets. The
change in equity is reflected in the government-wide statement of activities under Public
Safety. The City does not anticipate any income distribution from Metro since charges are
assessed only to recover anticipated expenses.
Complete separate financial statements for Metro may be obtained from the City of
Kennewick, Washington.
D. Trade, Recreation,Agricultural Center
In 1994 the City entered into an agreement with Franklin County for the Trade, Recreation,
and Agricultural Center (TRAC). The City shares with Franklin County the expenses to
operate and cover debt service. Franklin County handles all operating decisions and financial
reporting for TRAC.
Complete financial statements for TRAC may be obtained at Franklin County,1016 N. 4th
Avenue, Pasco, Washington.
For calendar year 2009, the City of Pasco paid Franklin County $301,665 in operating
expenses and $101,745 in debt service expenses.
The City's obligation for debt service is included in the debt service schedule in Note 10.
NOTE 19. POSTEMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
Plan Description
As required by the Revised Code of Washington (RCW) Chapter 41.26, the City provides
lifetime medical care for members of the Law Enforcement Officers and Firefighters (LEOFF)
retirement system hired before October 1, 1977 under a defined benefit healthcare plan
administered by the City. The members necessary hospital, medical, and nursing care expenses
not payable by worker's compensation, social security, insurance provided by another employer,
or other pension plan, or any other similar source are covered. Most medical coverage for
eligible retirees is provided by City's employee medical insurance program. Under authorization
of the LEOFF Disability Board, direct payment is made for other retiree medical expenses not
covered by standard medical plan benefit provisions. Financial reporting for the LEOFF retiree
healthcare plan is included in the City's Comprehensive Annual Financial Report.
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City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
Funding Policy
Funding for LEOFF retiree healthcare costs is provided entirely by the City as required by the
RCW. The City's funding policy is based upon pay-as-you-go financing requirements.
Annual OPEB Costs and Net OPEB Obli!ation
The City's annual Other Post Employment Benefits (OPEB) cost is calculated based upon the
annual required contribution (ARC), an amount actuarially determined in accordance with the
parameters of Governmental Accounting Standards Board (GASB) Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover the normal
costs each year and amortize any unfunded actuarial liabilities over a period of thirty years. This
is the City's first year of implementation for GASB Statement 45.
The GASB statement allows entities with fewer than 100 retired LEOFF members the option to
either hire an actuary to perform a valuation of the plan, or, do the valuation in-house. The
Office of the State Actuary for Washington State has provided a tool to do the in-house
evaluation.
The City of Pasco has a total of 44 LEOFF plan 1 members. Thirty-nine of those members are
retired and 5 are still active employees.
Six of those 39 retired members are a part of the Old Firemen's Pension Plan and are fully
funded through the Old Fire Pension Fund. Based on the 2008 in-house evaluation, the Actuarial
Accrued Liability for the Fire Pension Fund is $1,735,160. The Fund also supplements the
LEOFF Retirement System retirement payments. As shown in note 7, the total amount needed to
fund both medical insurance and future pension requirements is $3,111,039. As of December 31,
2009, the fund had assets of$3,565,410.
Performing the valuation for the remaining 33 members, it is determined the Unfunded Actuarial
Accrued Liability (UAAL) is $12,488,924. This amount can be funded over the next 30 years.
As mentioned previously, the City pays the medical premiums on an annual basis. Dividing the
UAAL by 30 years equals $416,297. During 2009, the City made payments totaling $367,014
for postemployment health care in the General Fund for those members.
The City uses the alternative measurement method permitted under GASB Statement No. 45. A
single retirement age of 56.22 was assumed for all active members for the purpose of
determining the actuarial accrued liability. Termination and mortality rates were assumed to
follow the LEOFF 1 termination and mortality rates used in the September 30, 2006 actuarial
valuation report issued by the office of the State Actuary (OSA). Healthcare costs and trends
were determined by Milliman and used by OSA in the State-wide LEOFF 1 medical study
performed in 2007. The results were based on grouped data with 4 active groupings and 4
inactive groupings. The actuarial cost method used to determine the actuarial accrued liability
was Projected Unit Credit. These assumptions are individually and collectively reasonable for
the purpose of this valuation.
The City reimburses 100% of the amount of validated claims for medical, prescription, and
hospitalization costs incurred by pre-Medicare retirees.
71
City of Pasco, 'Washington 20 o.A Comprehensive AnnuaCFinanciaCReport
Employer contributions are financed on pay-as-you-go basis. Expenditures for postemployment
health care benefits are recognized as retirees report claims and include a provision for estimated
claims incurred but not yet reported to the City.
Other Postemployment Benefit(OPEB) Plans
The City does not have any OPEB plans other than those listed above.
NOTE 20. CLOSURE AND POSTCLOSURE CARE COSTS
The City does not own a landfill but it does have a Landfill Remediation Fund. The purpose of
this fund is to provide Pasco with the means fund liability and or/pay expenses related to third
party claims asserted against Pasco with respect to the implementation and enforcement of the
Institutional Controls Program.
NOTE 21. TERMINATION BENEFITS
The City currently does not have an inducement program to hasten the termination of an
employee's services or ask for voluntary terminations.
Upon termination, an employee is paid 100% of their unused accrued Vacation balance and
unused accrued Compensation Time balance. Unused Sick time balance is paid out at the rate of
25%up to a maximum of 720 hours. These amounts are paid to the employee in their last check
which is processed in the next available payroll period. Payroll is processed every other week.
Accrued employee leave payable, or compensated absences, is reflected in the Statement of Net
Assets.
NOTE 22. POLLUTION REMEDIATION OBLIGATIONS
The City does not have any pollution remediation obligations.
NOTE 23. OTHER DISCLOSURES
A. Prior Period Adiustments
Prior period adjustments consist of the following:
An adjustment of$42,654 was made to the General Fund for revenues from the golf course
that were included in the 2008 CAFR but received in 2009. Consideration was given to the
fact that the revenues should have been received on a timely basis. All Other Governmental
Funds had a total an adjustment of$213 which is considered immaterial.
A net increase in adjustments totaling $6,174,647 for the Business-Type Funds was a direct
result of fixed assets. Fixed asset General Ledger balances were brought in line with a
reconciliation of past and present data.
72
City of Pasco, Washington 20 0g Comprehensive AnnuaCTinanciaCReport
B. Subsequent Events
None.
C. Related Organization
Pursuant to RCW 35.57 (the "City PFD Act") the Pasco Public Facilities District was formed
and created by Ordinance No. 3558 on July 15, 2002, coextensive with the boundaries of the
City, with the powers and authority set forth in the City PFD Act. The District is established
for the purpose of acquiring, constructing, owning, remodeling, maintaining, equipping, re-
equipping, repairing, financing, operating one or more Regional Centers, as defined by the
RCW 35.57.020 and/or participating with any other qualified public facilities district in a
cooperative and joint development of a Regional Center in the Tri-Cities area by interlocal
agreement.
The members of the board of directors of the District(the "PFD Board") shall be selected and
appointed by the Council, as required by the RCW. The PFD Board consisted of five
members. Three of the members will be appointed based on recommendations from local
organizations. The members will serve four-year terms. Of the initial members, one will be
appointed for a one year term, one for a two year term, one for a three year term, and the
remainder for four year terms. The Council may, by resolution, remove a member for any
reason. Vacancies will be filled by appointment by the Council.
All corporate powers of the District will be exercised by or under the authority of the PFD
Board; and the business, property and affairs of the District shall be managed under the
direction of the PFD Board, except as may be otherwise provided for by law herein, or in the
Charter.
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City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCReport
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74
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCAeport
COMBINING AND INDIVIDUAL FUND
STATEMENTS AND SCHEDULES
75
City of Pasco, Washington 2009 Comprehensive AnnualginancialR.eport
Budget to Actual
GENERALFUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ 22,645,000 $ 22,645,000 $ 22,614,629 $ (30,371) $ (30,371)
Licenses&Permits 1,009,300 1,009,300 1,586,917 577,617 577,617
Intergovernmental Revenue 1,327,300 1,327,300 1,852,035 524,735 524,735
Charges for Services 2,788,800 2,788,800 2,839,213 50,413 50,413
Fines&Forfeitures 982,400 982,400 1,012,084 29,684 29,684
Investment Income 299,000 299,000 249,769 (49,231) (49,231)
Miscellaneous Revenue 487,800 487,800 581,939 94,139 94,139
Total Revenues 29,539,600 29,539,600 30,736,586 1,196,986 1,196,986
EXPENDITURES
Current:
General Government 5,383,975 5,423,975 4,924,210 459,765 499,765
Judicial 835,100 877,650 922,376 (87,276) (44,726)
Public Safety 16,001,493 16,004,743 16,327,460 (325,967) (322,717)
Physical Environment 1,739,560 1,834,860 1,805,054 (65,494) 29,806
Transportation - - - -
Health and Human Services 10,000 10,000 12,400 (2,400) (2,400)
Economic Environment 410,025 430,025 478,957 (68,932) (48,932)
Culture and Recreation 3,782,765 3,782,765 3,771,508 11,257 11,257
Capital Outlay 2,126,200 2,126,200 1,180,315 945,886 945,886
Debt Service
Principal 501,025 501,025 657,732 (156,707) (156,707)
Interest 348,650 348,650 227,655 120,995 120,995
Total Expenditures 31,138,793 31,339,893 30,307,667 831,126 1,032,226
Excess of Revenues Over(Under)Expenditures (1,599,193) (1,800,293) 428,919 2,028,112 2,229,212
OTHER FINANCING SOURCES(USES)
Disposition of Capital Assets 2,000 2,000 - (2,000) (2,000)
Proceeds of General L-T Debt 1,000 1,000 - (1,000) (1,000)
Insurance Recoveries/other revenues 1,000 1,000 212,312 211,312 211,312
Transfers-In 1,138,000 1,138,000 119,676 (1,018,324) (1,018,324)
Transfers-(Out) (1,918,275) (3,512,475) (1,950,796) (32,521) 1,561,679
Total Other Financing Sources(Uses) (776,275) (2,370,475) (1,618,808) (842,533) 751,667
Net Change in Fund Balances (2,375,468) (4,170,768) (1,189,889) 1,185,579 2,980,879
Prior Period Adjustments - - 42,654 42,654 42,654
Fund Balance Beginning 6,500,000 6,500,000 10,962,088 4,462,088 4,462,088
Fund Balance,Ending $ 4,124,532 $ 2,329,232 $ 9,814,853 $ 5,690,321 $ 7,485,621
See accompanying notes to the basic financial statements.
76
City of Pasco, 'Washington 20 0g Comprehensive AnnuaCTinanciaCPeport
Schedule of Operations-Budget to Actuals
Budget to Actual
WATER/SEWER FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
OPERATING REVENUES
Charges for Services-Other $ 14,375,000 $ 14,375,000 $ 15,083,562 $ 708,562 $ 708,562
Miscellaneous Revenue 1,820,000 1,820,000 1,789,325 (30,675) (30,675)
Total Operating Revenues 16,195,000 16,195,000 16,872,887 677,887 677,887
OPERATING EXPENSES
Personal Service 3,571,675 3,571,675 3,614,536 (42,861) (42,861)
Supplies 897,900 897,900 481,446 416,454 416,454
Other Services and Charges 3,619,175 3,619,175 3,688,850 (69,675) (69,675)
Capital Outlays 326,000 326,000 - 326,000 326,000
Taxes 1,883,500 1,883,500 2,070,525 (187,025) (187,025)
Maintenance Expenses - - -
Depreciation - - 4,622,319 (4,622,319) (4,622,319)
Total Operating Expenses 10,298,250 10,298,250 14,477,676 (4,179,426) (4,179,426)
OPERATING INCOME(LOSS) 5,896,750 5,896,750 2,395,211 (3,501,539) (3,501,539)
NON-OPERATING REVENUES(EXPENSES)
Investment Income 401,000 401,000 359,270 (41,730) (41,730)
Farmland Rentals 675,000 675,000 948,870 273,870 273,870
Interest Expense (1,270,765) (1,270,765) (1,628,772) (358,007) (358,007)
Amortization Expense - - (51,031) (51,031) (51,031)
Miscellaneous Non-Operating Revenues 26,000 26,000 269,672 243,672 243,672
Total Non-Operating Revenues(Expenses) (168,765) (168,765) (101,991) 66,774 66,774
Income(Loss)before Contributions and
Transfers 5,727,985 5,727,985 2,293,220 (3,434,765) (3,434,765)
Capital Contributions - - 3,011,986 3,011,986 3,011,986
Transfers In(Out) 176,000 176,000 (484,537) (660,537) (660,537)
Changes in Net Assets 5,903,985 5,903,985 4,820,669 (1,083,316) (1,083,316)
Prior Year Adjustments - - 6,174,647 6,174,647 6,174,647
NET ASSETS-BEGINNING 14,319,955 14,319,955 113,808,868 99,488,913 99,488,913
NET ASSETS-ENDING $ 20,223,940 $ 20,223,940 $ 124,804,184 $ 104,580,244 $ 104,580,244
See accompanying notes to the basic financial statements.
77
City of Pasco, Washington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Special Revenue Funds
December 31,2009
Community
City Arterial I-182 Traffic Street Development
Street Street Impact Overlay Block Grant
Fund Fund Fund Fund Fund
ASSETS
Current Cash&Cash Equivalents $ 169,032 $ 10,535 $ 463,004 $ 1,568,748 $ 1,437
Receivables(net of allowances)
Taxes - - - 66,129 -
Customer Accounts 18,886 40,000 - - 139,800
Interfund Loans Receivable - 460 120,000 - -
Interest Receivable 462 (2,830) 2,832 7,558 (458)
Other Receivables 210,785 65,555 - - 179,277
TOTAL ASSETS 399,165 113,720 585,836 1,642,435 320,056
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 116,312 168,292 - - 111,000
Bank Overdraft - - - - -
Interfund Loans Payable - 1,120,000 - - 200,000
Due to Other Governmental Units - - - - -
Bonds,Notes, Loans Payable - - - - -
Deferred Revenue - - - - -
Other 3,829 5,112 - 67,989 4,028
Total Liabilities 120,141 1,293,404 - 67,989 315,028
Fund Balances
Reserved for:
Advances to Other Funds - 460 120,000 - -
Debt Service - - - - -
Capital Improvements - - - - -
Other Reserves - - - - -
Unreserved, Reported in:
Special Revenue Funds 279,024 (1,180,144) 465,836 1,574,446 5,028
Debt Service Funds - - - - -
Capital Project Funds - - - - -
Total Fund Balances 279,024 (1,179,684) 585,836 1,574,446 5,028
TOTAL LIABILITIES AND
FUND BALANCES $ 399,165 $ 113,720 $ 585,836 $ 1,642,435 $ 320,056
See accompanying notes to the basic financial statements. Continued on next page
78
City of Pasco. tiVashington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Special Revenue Funds
December 31,2009
M.L.King
Community Ambulance City View Athletic
Center Services Contingency Cemetery Program
Fund Fund Fund Fund Fund
ASSETS
Current Cash&Cash Equivalents $ 18,916 $ 217 $ 168,402 $ 61,434 $ 72,087
Receivables(net of allowances)
Taxes - - - - -
Customer Accounts (1,920) 350,983 - 7,376 -
Interfund Loans Receivable - - - - -
Interest Receivable 38 (226) 833 240 344
Other Receivables - - - - -
TOTAL ASSETS 17,034 350,974 169,235 69,050 72,431
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 5,113 16,173 - 1,373 3,163
Bank Overdraft - - - - -
Interfund Loans Payable 4,000 92,000 - 100,000 -
Due to Other Governmental Units - - - 255 -
Bonds,Notes, Loans Payable - - - - -
Deferred Revenue - - - - -
Other 193 - - - -
Total Liabilities 9,306 108,173 - 101,628 3,163
Fund Balances
Reserved for:
Advances to Other Funds - - - - -
Debt Service - - - - -
Capital Improvements - - - - -
Other Reserves - - 26,644 - -
Unreserved, Reported in:
Special Revenue Funds 7,728 242,801 142,591 (32,578) 69,268
Debt Service Funds - - - - -
Capital Project Funds - - - - -
Total Fund Balances 7,728 242,801 169,235 (32,578) 69,268
TOTAL LIABILITIES AND
FUND BALANCES $ 17,034 $ 350,974 $ 169,235 $ 69,050 $ 72,431
See accompanying notes to the basic financial statements. Continued on next page
79
City of Pasco. tiVashington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Special Revenue Funds
December 31,2009
Rivershore Trail Special
Senior Multi-Modal & Marina Lodging
Center Facility Bi-Centennial Maintenance Assessment
Fund Fund Fund Fund Fund
ASSETS
Current Cash&Cash Equivalents $ 36,458 $ 25,080 $ 6,104 $ 7,027 32,426
Receivables(net of allowances)
Taxes - - - - -
Customer Accounts 1,333 (2,003) - 3,554 -
Interfund Loans Receivable - - - - -
Interest Receivable 168 120 30 31 95
Other Receivables - - - - 23,167
TOTAL ASSETS 37,959 23,197 6,134 10,612 55,688
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 7,954 5,304 - 781 28,179
Bank Overdraft - - - - -
Interfund Loans Payable - - - - -
Due to Other Governmental Units 165 554 - (131) -
Bonds, Notes, Loans Payable - - - - -
Deferred Revenue 1,870 - - - -
Other 925 2,200 - - -
Total Liabilities 10,914 8,058 - 650 28,179
Fund Balances
Reserved for:
Advances to Other Funds - - - - -
Debt Service - - - - -
Capital Improvements - - - - -
Other Reserves - - - - -
Unreserved, Reported in:
Special Revenue Funds 27,045 15,139 6,134 9,962 27,509
Debt Service Funds - - - - -
Capital Project Funds - - - - -
Total Fund Balances 27,045 15,139 6,134 9,962 27,509
TOTAL LIABILITIES AND
FUND BALANCES $ 37,959 $ 23,197 $ 6,134 $ 10,612 $ 55,688
See accompanying notes to the basic financial statements. Continued on next page
80
City of Pasco, Washington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Special Revenue Funds
December 31,2009
T.R.A.C.
Litter Revolving Development Park Capital
Abatement Abatement &Operating Development Improvements
Fund Fund Fund Fund Fund
ASSETS
Current Cash&Cash Equivalents $ 12,725 $ 196,051 $ 128,603 $ 1,936,316 $ 4,119,149
Receivables(net of allowances)
Taxes - - - - -
Customer Accounts (1,599) 138,943 - - -
Interfund Loans Receivable - - - - -
Interest Receivable 61 902 233 9,551 20,245
Other Receivables - - 25,852 - 56,921
TOTAL ASSETS 11,187 335,896 154,688 1,945,867 4,196,315
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 1,680 94 12,926 - -
Bank Overdraft - - - - -
Interfund Loans Payable - - - - -
Due to Other Governmental Units - - - - -
Bonds, Notes, Loans Payable - - - - -
Deferred Revenue - - - - -
Other - - - 4,072 -
Total Liabilities 1,680 94 12,926 4,072 -
Fund Balances
Reserved for:
Advances to Other Funds - - - - -
Debt Service - - - - -
Capital Improvements - - - - -
Other Reserves - - - - -
Unreserved, Reported in:
Special Revenue Funds 9,507 335,802 141,762 1,941,795 4,196,315
Debt Service Funds - - - - -
Capital Project Funds - - - - -
Total Fund Balances 9,507 335,802 141,762 1,941,795 4,196,315
TOTAL LIABILITIES AND
FUND BALANCES $ 11,187 $ 335,896 $ 154,688 $ 1,945,867 $4,196,315
See accompanying notes to the basic financial statements.
81
City of Pasco. tiVashington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Special Revenue Funds
December 31,2009
Industrial Stadium/
Development Convention
& Infrastructure Center
Fund Fund TOTALS
ASSETS
Current Cash&Cash Equivalents $ 664,109 $ 19,179 $ 9,717,039
Receivables(net of allowances)
Taxes - - 66,129
Customer Accounts 42,194 - 737,547
Interfund Loans Receivable - - 120,460
Interest Receivable 3,292 (28) 43,493
Other Receivables - 25,852 587,409
TOTAL ASSETS 709,595 45,003 11,272,077
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable - 13,212 491,556
Bank Overdraft - - -
InterFund Loans Payable - 15,000 1,531,000
Due to Other Governmental Units - - 843
Bonds, Notes, Loans Payable - - -
Deferred Revenue - - 1,870
Other - 920 89,268
Total Liabilities - 29,132 2,114,537
Fund Balances
Reserved for:
Advances to Other Funds - - 120,460
Debt Service - - -
Capital Improvements - - -
Other Reserves - - 26,644
Unreserved, Reported in:
Special Revenue Funds 709,595 15,871 9,010,436
Debt Service Funds - - -
Capital Project Funds - - -
Total Fund Balances 709,595 15,871 9,157,540
TOTAL LIABILITIES AND
FUND BALANCES $ 709,595 $ 45,003 $ 11,272,077
See accompanying notes to the basic financial statements.
82
City of Pasco. Washington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Debt Service Funds
December 31,2009
1999 Library/ 2002 Local Improv. All Other
Fire Station Unl.Tax G.O. District Local Improv.
Bonds Refunding Bonds Guaranty District
Fund Fund Fund Funds TOTALS
ASSETS
Current Cash&Cash Equivalents $ 93,898 $ 225,829 $ 946,680 $ 904,288 $ 2,170,695
Receivables(net of allowances)
Taxes 8,263 21,169 - - 29,432
Customer Accounts - - - 289,813 289,813
Interfund Loans Receivable - - - -
Interest Receivable 762 1,917 8,694 5,968 17,341
Other Receivables - - - 3,323,460 3,323,460
TOTAL ASSETS 102,923 248,915 955,374 4,523,529 5,830,741
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable - - - 34,054 34,054
Bank Overdraft - - - - -
Interfund Loans Payable - - - 471,227 471,227
Due to Other Governmental Units - - - - -
Bonds,Notes, Loans Payable - - - 35,000 35,000
Deferred Revenue - - - 3,323,460 3,323,460
Other - - - - -
Total Liabilities - - - 3,863,741 3,863,741
Fund Balances
Reserved for:
Advances to Other Funds - - - - -
Debt Service - - - 659,788 659,788
Capital Improvements - - - - -
Other Reserves - - - - -
Unreserved, Reported in:
Special Revenue Funds - - - - -
Debt Service Funds 102,923 248,915 955,374 - 1,307,212
Capital Project Funds - - - - -
Total Fund Balances 102,923 248,915 955,374 659,788 1,967,000
TOTAL LIABILITIES AND
FUND BALANCES $ 102,923 $ 248,915 $ 955,374 $ 4,523,529 $ 5,830,741
See accompanying notes to the basic financial statements.
83
City of Pasco. Washington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Capital Projects Funds
December 31,2009
Capital Projects LID
Construction Construction
Fund Fund TOTALS
ASSETS
Current Cash&Cash Equivalents $ 614,619 $ (816,427) $ (201,808)
Receivables(net of allowances)
Taxes - - -
Customer Accounts - - -
InterFund Loans Receivable - - -
Interest Receivable - (3,548) (3,548)
Other Receivables - - -
TOTAL ASSETS 614,619 (819,975) (205,356)
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 228,207 155,998 384,205
Bank Overdraft - - -
Interfund Loans Payable - - -
Due to Other Governmental Units - - -
Bonds, Notes, Loans Payable - - -
Deferred Revenue - - -
Other 26,527 39,054 65,581
Total Liabilities 254,734 195,052 449,786
Fund Balances
Reserved for:
Advances to Other Funds - - -
Debt Service - - -
Capital Improvements - - -
Other Reserves - - -
Unreserved, Reported in:
Special Revenue Funds - - -
Debt Service Funds - - -
Capital Project Funds 359,885 (1,015,027) (655,142)
Total Fund Balances 359,885 (1,015,027) (655,142)
TOTAL LIABILITIES AND
FUND BALANCES $ 614,619 $ (819,975) $ (205,356)
See accompanying notes to the basic financial statements.
84
City of Pasco. Washington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Non-Major Permanent Funds
December 31,2009
City View City View Boulevard
Cemetery Cemetery Perpetual Landfill
Trust Pre-Need Trust Maintenance Remediation
Fund Fund Fund Fund TOTALS
ASSETS
Current Cash&Cash Equivalents $ 368,415 $ 88,252 $ 1,479,829 $ 390,825 $ 2,327,321
Receivables(net of allowances)
Taxes - - - - -
Customer Accounts 780 1,433 - - 2,213
Interfund Loans Receivable - - - - -
Interest Receivable 1,866 445 7,465 1,934 11,710
Other Receivables - - - - -
TOTAL ASSETS 371,061 90,130 1,487,294 392,759 2,341,244
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable - - - - -
Bank Overdraft - - - - -
Interfund Loans Payable - - - - -
Due to Other Governmental Units - - - - -
Bonds, Notes, Loans Payable - - - - -
Deferred Revenue - - - - -
Other - - - 350,000 350,000
Total Liabilities - - - 350,000 350,000
Fund Balances
Reserved for:
Advances to Other Funds - - - - -
Debt Service - - - - -
Capital Improvements - - - - -
Other Reserves 371,061 90,130 1,487,294 42,759 1,991,244
Unreserved, Reported in:
Special Revenue Funds - - - - -
Debt Service Funds - - - - -
Capital Project Funds - - - - -
Total Fund Balances 371,061 90,130 1,487,294 42,759 1,991,244
TOTAL LIABILITIES AND
FUND BALANCES $ 371,061 $ 90,130 $ 1,487,294 $ 392,759 $ 2,341,244
See accompanying notes to the basic financial statements.
85
City of Pasco. Washington 2009 Comprehensive AnnualginancialR.eport
Comprehensive Annual Financial Report
Combining Balance Sheet
Other Governmental Funds
December 31,2009
2009 2008
Total Other Total Other
Governmental Governmental
Funds Funds
ASSETS
Current Cash&Cash Equivalents $ 14,013,247 $14,808,081
Receivables(net of allowances)
Taxes 95,561 107,268
Customer Accounts 1,029,573 5,270,983
Interfund Loans Receivable 120,460 1,100
Interest Receivable 68,996 75,962
Other Receivables 3,910,869 489,260
TOTAL ASSETS 19,238,706 20,752,654
LIABILITIES AND FUND BALANCES
Liabilities
Accounts Payable 909,815 460,029
Bank Overdraft - 1,768,775
Interfund Loans Payable 2,002,227 634,900
Due to Other Governmental Units 843 905
Bonds, Notes, Loans Payable 35,000 120,000
Deferred Revenue 3,325,330 4,333,714
Other 504,849 501,095
Total Liabilities 6,778,064 7,819,418
Fund Balances
Reserved for:
Advances to Other Funds 120,460 1,100
Debt Service 659,788 2,073,622
Capital Improvements - -
Other Reserves 2,017,888 1,815,716
Unreserved, Reported in:
Special Revenue Funds 9,010,436 9,871,589
Debt Service Funds 1,307,212 921,004
Capital Project Funds (655,142) (1,749,795)
Total Fund Balances 12,460,642 12,933,236
TOTAL LIABILITIES AND
FUND BALANCES $ 19,238,706 $20,752,654
See accompanying notes to the basic financial statements.
86
City of Pasco, Washington 2009 Comprehensive AnnualginanciaCPeport
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Special Revenue Funds
110 120 125 130 140
City Street Arterial Street 1-182 Impact Street Overlay Comm.Dev.
REVENUES Fund Fund Fund Fund Block Grant
Taxes 207,082 - - 830,103 -
Licenses&Permits 272,869 - - - -
Intergovernmental Revenue 803,118 427,048 - - 606,758
Charges for Services - - - - -
Fines&Forfeitures - - - - -
Investment Income 3,251 (9,767) 12,923 42,702 374
Miscellaneous Revenue 11,996 62,870 324,387 - 10,425
Total Revenues 1,298,316 480,151 337,310 872,805 617,557
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - - -
Public Safety - - - - 48,000
Physical Environment - - - - -
Transportation 1,512,044 - - - -
Health and Human Services - - - - -
Economic Environment - - - - 150,629
Culture and Recreation - - - - -
Capital Outlay - 2,136,932 - 1,433,823 411,436
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 1,512,044 2,136,932 - 1,433,823 610,065
Excess of Revenues
Over(Under)Expenditures (213,728) (1,656,781) 337,310 (561,018) 7,492
OTHER FINANCING SOURCES (USES)
Insurance Recoveries/sale of assets 1,409 37,771 - - -
Operating Transfers-In 215,000 141,100 - - -
Operating Transfers-(Out) - - (62,313) - (80,000)
Total Other Financing Sources(Uses) 216,409 178,871 (62,313) - (80,000)
Net Change in Fund Balances 2,681 (1,477,910) 274,997 (561,018) (72,508)
Prior Year Adjustments - - - - -
Fund Balance Beginning 276,343 298,226 310,839 2,135,464 77,536
Fund Balance,Ending 279,024 (1,179,684) 585,836 1,574,446 5,028
See accompanying notes to the basic financial statements.
87
City of Pasco, Washington 2009 Comprehensive AnnualginanciaCPxport
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Special Revenue Funds
145 150 155 160 165
MILK Comm. Ambulance Contingency Cemetery Athletic
REVENUES Center Fund Fund Fund Fund
Taxes - - - - -
Licenses&Permits - - - - -
Intergovernmental Revenue - 1,726 - - -
Charges for Services 3,890 1,811,945 - 213,890 91,348
Fines&Forfeitures - - - - -
Investment Income 125 (1,504) 4,624 2,620 1,654
Miscellaneous Revenue 28,634 9,250 - 557 -
Total Revenues 32,649 1,821,417 4,624 217,067 93,002
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - - -
Public Safety - 2,042,974 - - -
Physical Environment - - - 248,041 -
Transportation - - - - -
Health and Human Services - - - - -
Economic Environment - - - - -
Culture and Recreation 146,426 - - - 91,486
Capital Outlay - - - - -
Debt Service -
Principal - - - - -
Interest - - - - -
Total Expenditures 146,426 2,042,974 - 248,041 91,486
Excess of Revenues
Over(Under)Expenditures (113,777) (221,557) 4,624 (30,974) 1,516
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Operating Transfers-In 105,900 420,000 - 21,741 -
Operating Transfers-(Out) - - - - -
Total Other Financing Sources(Uses) 105,900 420,000 - 21,741 -
Net Change in Fund Balances (7,877) 198,443 4,624 (9,233) 1,516
Prior Year Adjustments - - - - (47)
Fund Balance Beginning 15,605 44,358 164,611 (23,345) 67,799
Fund Balance, Ending 7,728 242,801 169,235 (32,578) 69,268
See accompanying notes to the basic finar Continued on next page.
88
City of Pasco, Washington 2009 Comprehensive AnnualginanciaCPeport
Combining Statement of Revenues,Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Special Revenue Funds
170 180 181 185 188
Senior Multi-Modal Bi-Centennial Rivershore Trail Spec.Lodging
REVENUES Center Facility Fund Fund Fund
Taxes - - - - 193,950
Licenses&Permits - - - - -
Intergovernmental Revenue 29,119 - - - -
Charges for Services - - - - -
Fines&Forfeitures - - - - -
Investment Income 571 568 167 237 469
Miscellaneous Revenue 42,680 62,239 - 11,850 -
Total Revenues 72,370 62,807 167 12,087 194,419
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - - -
Public Safety - - - - -
Physical Environment - - - - -
Transportation - 54,364 - - -
Health and Human Services 46,117 - - - -
Economic Environment - - - - 191,118
Culture and Recreation 233,450 - - 12,619 -
Capital Outlay - - - - -
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 279,567 54,364 - 12,619 191,118
Excess of Revenues
Over(Under)Expenditures (207,197) 8,443 167 (532) 3,301
OTHER FINANCING SOURCES (USES)
Insurance Recoveries - - - - -
Operating Transfers-In 219,500 - - - -
Operating Transfers-(Out) - - - - -
Total Other Financing Sources(Uses) 219,500 - - - -
Net Change in Fund Balances 12,303 8,443 167 (532) 3,301
Prior Year Adjustments (100) - - - -
Fund Balance Beginning 14,842 6,696 5,967 10,494 24,208
Fund Balance,Ending 27,045 15,139 6,134 9,962 27,509
See accompanying notes to the basic financial statements.
89
City of Pasco. Washington 2009 Comprehensive AnnualginanciaCPxport
Combining Statement of Revenues, Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Special Revenue Funds
189 190 191 192 193
Litter Revolving TRAC Dev.& Park Capital
REVENUES Abatement Abatement Operating Fund Fund Improvement
Taxes - - 219,769 - 522,034
Licenses&Permits - - - - -
Intergovernmental Revenue - - - - -
Charges for Services 5,000 109,974 - 182,553 -
Fines&Forfeitures - 50,753 - - -
Investment Income 329 5,882 1,059 52,748 107,716
Miscellaneous Revenue 7,500 20,021 - - -
Total Revenues 12,829 186,630 220,828 235,301 629,750
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - - -
Public Safety - - - - -
Physical Environment 13,265 - - - -
Transportation - - - - -
Health and Human Services - - - - -
Economic Environment - 123,330 - - -
Culture and Recreation - - 301,664 - -
Capital Outlay - - 93,424 2,926
Debt Service
Principal - - 76,552 - -
Interest - - 25,193 - -
Total Expenditures 13,265 123,330 403,409 93,424 2,926
Excess of Revenues
Over(Under)Expenditures (436) 63,300 (182,581) 141,877 626,824
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Operating Transfers-(In) - - 196,700 - -
OperatingTransfers-(Out) - - - (417) (1,114)
Total Other Financing Sources(Uses) - - 196,700 (417) (1,114)
Net Change in Fund Balances (436) 63,300 14,119 141,460 625,710
Prior Year Adjustments - - - - -
Fund Balance Beginning 9,943 272,502 127,643 1,800,335 3,570,605
Fund Balance,Ending 9,507 335,802 141,762 1,941,795 4,196,315
See accompanying notes to the basic financial statements.
90
City o f Pasco. tiVashington 2009 Comprehensive AnnualginanciaCPxport
Combining Statement of Revenues, Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Special Revenue Funds
194 195
Indust. Devel. Stadium/
REVENUES & Infrastructure Conv.Center TOTALS
Taxes - 219,770 2,192,708
Licenses&Permits - - 272,869
Intergovernmental Revenue 85,793 193,590 2,147,152
Charges for Services - - 2,418,600
Fines& Forfeitures - - 50,753
Investment Income 17,885 1,242 245,875
Miscellaneous Revenue - 15,754 608,163
Total Revenues 103,678 430,356 7,936,120
EXPENDITURES
Current:
General Government - - -
Judicial - - -
Public Safety - - 2,090,974
Physical Environment - - 261,306
Transportation - - 1,566,408
Health and Human Services - - 46,117
Economic Environment - - 465,077
Culture and Recreation - 112,588 898,233
Capital Outlay 29,461 - 4,108,002
Debt Service
Principal - 100,000 176,552
Interest - 26,950 52,143
Total Expenditures 29,461 239,538 9,664,812
Excess of Revenues
Over(Under)Expenditures 74,217 190,818 (1,728,692)
OTHER FINANCING SOURCES (USES)
Insurance Recoveries - - 39,180
Operating Transfers-(In) - - 1,319,941
Operating Transfers-(Out) - (201,589) (345,433)
Total Other Financing Sources(Uses) - (201,589) 1,013,688
Net Change in Fund Balances 74,217 (10,771) (715,004)
Prior Year Adjustments - - (147)
Fund Balance Beginning 635,378 26,642 9,872,691
Fund Balance, Ending 709,595 15,871 9,157,540
See accompanying notes to the basic financial statements.
91
City of Pasco, Washington 200,9 Comprehensive AnnualginancialR.eport
Combining Statement of Revenues, Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Debt Service Funds
272 273 625 709-797
Library/Fire 2002 UTGO LID LID
REVENUES Station Bonds Bonds Guaranty Assessments Total
Taxes 153,521 379,270 - - 532,791
Licenses&Permits - - - - -
Intergovernmental Revenue - - - 41,584 41,584
Charges for Services - - - - -
Fines&Forfeitures - - - - -
Investment Income 4,180 9,737 44,715 33,052 91,684
Miscellaneous Revenue - - - 1,017,476 1,017,476
Total Revenues 157,701 389,007 44,715 1,092,112 1,683,535
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - - -
Public Safety - - - - -
Physical Environment - - 13 - 13
Transportation - - - - -
Health and Human Services - - - - -
Economic Environment - - - - -
Culture and Recreation - - - - -
Capital Outlay - - - - -
Debt Service -
Principal 100,000 315,000 - - 415,000
Interest 60,257 66,632 - 6,706 133,595
Total Expenditures 160,257 381,632 13 6,706 548,608
Excess of Revenues
Over(Under)Expenditures (2,556) 7,375 44,702 1,085,406 1,134,927
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Operating Transfers-(In) - - - - -
Operating Transfers-(Out) - - (809,887) (1,353,025) (2,162,912)
Total Other Financing Sources(Uses) - - (809,887) (1,353,025) (2,162,912)
Net Change in Fund Balances (2,556) 7,375 (765,185) (267,619) (1,027,985)
Prior Year Adjustments (31) 391 - - 360
Fund Balance Beginning 105,510 241,149 1,720,559 927,407 2,994,625
Fund Balance, Ending 102,923 248,915 955,374 659,788 1,967,000
See accompanying notes to the basic financial statements.
92
City of Pasco, Washington 2009 Comprehensive AnnualginanciaCPeport
Combining Statement of Revenues, Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Capital Projects Funds
367 700
General Purpose LID
REVENUES Construction Construction Total
Taxes - - -
Licenses& Permits - - -
Intergovernmental Revenue - - -
Charges for Services - - -
Fines& Forfeitures - - -
Investment Income - (29,518) (29,518)
Miscellaneous Revenue - - -
Total Revenues - (29,518) (29,518)
EXPENDITURES
Current:
General Government - - -
Judicial - - -
Public Safety - - -
Physical Environment - - -
Transportation - - -
Health and Human Services - - -
Economic Environment - - -
Culture and Recreation - - -
Capital Outlay 1,448,554 980,440 2,428,994
Debt Service
Principal - - -
Interest - - -
Total Expenditures 1,448,554 980,440 2,428,994
Excess of Revenues
Over(Under)Expenditures (1,448,554) (1,009,958) (2,458,512)
OTHER FINANCING SOURCES (USES)
Insurance Recoveries - - -
Operating Transfers-(In) 1,715,604 1,837,562 3,553,166
Operating Transfers-(Out) - - -
Total Other Financing Sources(Uses) 1,715,604 1,837,562 3,553,166
Net Change in Fund Balances 267,050 827,604 1,094,654
Prior Year Adjustments - - -
Fund Balance Beginning 92,835 (1,842,631) (1,749,796)
Fund Balance, Ending 359,885 (1,015,027) (655,142)
See accompanying notes to the basic financial statements.
Continued on next page.
93
City of Pasco, Washington 2009 Comprehensive AnnualginancialR.eport
Combining Statement of Revenues, Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
Permanent Fund
605 606 610 621
Cemetery Cemetery Blvd. Perpetual Landfill
REVENUES Perpetual Care Pre-Need Fund Maint. Fund Remediation Total
Taxes - - - - -
Licenses&Permits - - - - -
Intergovernmental Revenue - - - - -
Charges for Services 13,685 13,949 - - 27,634
Fines&Forfeitures - - - - -
Investment Income 9,525 2,218 37,363 9,948 59,054
Miscellaneous Revenue - - 137,900 46 137,946
Total Revenues 23,210 16,167 175,263 9,994 224,634
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - - -
Public Safety - - - - -
Physical Environment - - - - -
Transportation - - - - -
Health and Human Services - - - - -
Economic Environment - - - - -
Culture and Recreation - - - - -
Capital Outlay - - - - -
Debt Service -
Principal - - - - -
Interest - - - - -
Total Expenditures - - - - -
Excess of Revenues
Over(Under)Expenditures 23,210 16,167 175,263 9,994 224,634
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Operating Transfers-(In) - - - - -
Operating Transfers-(Out) (9,524) (2,217) (37,364) - (49,105)
Total Other Financing Sources(Uses) (9,524) (2,217) (37,364) - (49,105)
Net Change in Fund Balances 13,686 13,950 137,899 9,994 175,529
Prior Year Adjustments - - - - -
Fund Balance Beginning 357,375 76,180 1,349,395 32,765 1,815,715
Fund Balance, Ending 371,061 90,130 1,487,294 42,759 1,991,244
See accompanying notes to the basic financial statements.
94
City of Pasco, Washington 200P Comprehensive AnnualginanciaCPeport
Combining Statement of Revenues, Expenditures,and Changes in Fund Balances
Other Governmental Funds
For the Year Ended December 31,2009
2009 2008
Total Other Total Other
Governmental Governmental
REVENUES Funds Funds
Taxes 2,725,499 2,746,707
Licenses& Permits 272,869 250,739
Intergovernmental Revenue 2,188,736 3,212,074
Charges for Services 2,446,234 2,044,253
Fines& Forfeitures 50,753 36,271
Investment Income 367,095 546,499
Miscellaneous Revenue 1,763,585 863,375
Total Revenues 9,814,771 9,699,918
EXPENDITURES
Current:
General Government - -
Judicial - -
Public Safety 2,090,974 2,089,859
Physical Environment 261,319 256,394
Transportation 1,566,408 1,536,157
Health and Human Services 46,117 42,169
Economic Environment 465,077 344,936
Culture and Recreation 898,233 747,034
Capital Outlay 6,536,996 6,243,922
Debt Service
Principal 591,552 574,483
Interest 185,738 213,415
Total Expenditures 12,642,414 12,048,369
Excess of Revenues
Over(Under)Expenditures (2,827,643) (2,348,451)
OTHER FINANCING SOURCES (USES)
Insurance Recoveries 39,180 75
Operating Transfers-(In) 4,873,107 5,011,193
Operating Transfers-(Out) (2,557,450) (2,452,069)
Total Other Financing Sources(Uses) 2,354,837 2,559,199
Net Change in Fund Balances (472,806) 210,748
Prior Year Adjustments 213 2,595
Fund Balance Beginning 12,933,235 12,719,892
Fund Balance, Ending 12,460,642 12,933,235
See accompanying notes to the basic financial statements.
95
City of Pasco, Washington 2009 Comprehensive AnnualginanciaCPxport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
CITY STREET FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ 199,000 199,000 $ 207,082 $ 8,082 $ 8,082
Licenses&Permits 216,000 216,000 272,869 56,869 56,869
Intergovernmental Revenue 790,000 790,000 803,118 13,118 13,118
Charges for Services - - - - -
Fines&Forfeitures - - - - -
Investment Income 2,000 2,000 3,251 1,251 1,251
Miscellaneous Revenue 200 200 11,996 11,796 11,796
Total Revenues 1,207,200 1,207,200 1,298,316 91,116 91,116
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - -
Public Safety - - - -
Physical Environment - - - - -
Transportation 1,227,985 1,297,985 1,512,044 (284,059) (214,059)
Health and Human Services - - - - -
Economic Environment - - -
Culture and Recreation - - - - -
Capital Outlay 181,000 181,000 - 181,000 181,000
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 1,408,985 1,478,985 1,512,044 (103,059) (33,059)
Excess of Revenues Over(Under)Expenditures (201,785) (271,785) (213,728) (11,943) 58,057
OTHER FINANCING SOURCES(USES)
Insurance Recoveries 100 100 1,409 1,309 1,309
Transfers-In 145,000 215,000 215,000 70,000 -
Transfers-(Out) - - - - -
Total Other Financing Sources(Uses) 145,100 215,100 216,409 71,309 1,309
Net Change in Fund Balances (56,685) (56,685) 2,681 59,366 59,366
Prior Period Adjustments - - - - -
Fund Balance Beginning 60,000 60,000 276,343 216,343 216,343
Fund Balance,Ending $ 3,315 $ 3,315 $ 279,024 $ 275,709 $ 275,709
See accompanying notes to the basic financial statements.
96
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
ARTERIAL STREET FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue 2,745,000 2,745,000 427,048 (2,317,952) (2,317,952)
Charges for Services - - -
Fines&Forfeitures - -
Investment Income 1,000 1,000 (9,767) (10,767) (10,767)
Miscellaneous Revenue - - 62,870 62,870 62,870
Total Revenues 2,746,000 2,746,000 480,151 (2,265,849) (2,265,849)
EXPENDITURES
Current:
General Government - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment -
Culture and Recreation - - - - -
Capital Outlay 3,875,000 3,875,000 2,136,932 1,738,068 1,738,068
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 3,875,000 3,875,000 2,136,932 1,738,068 1,738,068
Excess of Revenues Over(Under)Expenditures (1,129,000) (1,129,000) (1,656,781) (527,781) (527,781)
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - 37,771 37,771 37,771
Transfers-In 1,130,000 1,271,100 141,100 (988,900) (1,130,000)
Transfers-(Out) - 63,300 - (63,300)
Total Other Financing Sources(Uses) 1,130,000 1,334,400 178,871 (951,129) (1,155,529)
Net Change in Fund Balances 1,000 205,400 (1,477,910) (1,478,910) (1,683,310)
Prior Period Adjustments - - - - -
Fund Balance Beginning - - 298,226 298,226 298,226
Fund Balance,Ending $ 1,000 $ 205,400 $ (1,179,684) $ (1,180,684) $ (1,385,084)
See accompanying notes to the basic financial statements.
97
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
ARTERIAL STREET FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue 2,745,000 2,745,000 427,048 (2,317,952) (2,317,952)
Charges for Services - - -
Fines&Forfeitures - -
Investment Income 1,000 1,000 (9,767) (10,767) (10,767)
Miscellaneous Revenue - - 62,870 62,870 62,870
Total Revenues 2,746,000 2,746,000 480,151 (2,265,849) (2,265,849)
EXPENDITURES
Current:
General Government - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment -
Culture and Recreation - - - - -
Capital Outlay 3,875,000 3,875,000 2,136,932 1,738,068 1,738,068
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 3,875,000 3,875,000 2,136,932 1,738,068 1,738,068
Excess of Revenues Over(Under)Expenditures (1,129,000) (1,129,000) (1,656,781) (527,781) (527,781)
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - 37,771 37,771 37,771
Transfers-In 1,130,000 1,271,100 141,100 (988,900) (1,130,000)
Transfers-(Out) - 63,300 - (63,300)
Total Other Financing Sources(Uses) 1,130,000 1,334,400 178,871 (951,129) (1,155,529)
Net Change in Fund Balances 1,000 205,400 (1,477,910) (1,478,910) (1,683,310)
Prior Period Adjustments - - - - -
Fund Balance Beginning - - 298,226 298,226 298,226
Fund Balance,Ending $ 1,000 $ 205,400 $ (1,179,684) $ (1,180,684) $ (1,385,084)
See accompanying notes to the basic financial statements.
98
City o f Pasco. Washington 20 oA Comprehensive .annual Financial eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
STREET OVERLAY FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ 772,000 $ 772,000 $ 830,103 $ 58,103 $ 58,103
Licenses&Permits - - - - -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - - - - -
Investment Income 40,000 40,000 42,702 2,702 2,702
Miscellaneous Revenue - - - - -
Total Revenues 812,000 812,000 872,805 60,805 60,805
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety - -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment -
Culture and Recreation - - - - -
Capital Outlay 1,620,000 1,620,000 1,433,823 186,177 186,177
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 1,620,000 1,620,000 1,433,823 186,177 186,177
Excess of Revenues Over(Under)Expenditures (808,000) (808,000) (561,018) 246,982 246,982
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - -
Transfers-In - -
Transfers-(Out) (400,000) (400,000) 400,000 400,000
Total Other Financing Sources(Uses) (400,000) (400,000) 400,000 400,000
Net Change in Fund Balances (1,208,000) (1,208,000) (561,018) 646,982 646,982
Prior Period Adjustments - - - - -
Fund Balance Beginning 1,800,000 1,800,000 2,135,464 335,464 335,464
Fund Balance,Ending $ 592,000 $ 592,000 $ 1,574,446 $ 982,446 $ 982,446
See accompanying notes to the basic financial statements.
99
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue 866,175 866,175 606,758 (259,417) (259,417)
Charges for Services - - -
Fines&Forfeitures - - - -
Investment Income - - 374 374 374
Miscellaneous Revenue 17,000 17,000 10,425 (6,575) (6,575)
Total Revenues 883,175 883,175 617,557 (265,618) (265,618)
EXPENDITURES
Current:
General Government - - -
Judicial - - - - -
Public Safety 60,500 60,500 48,000 12,500 12,500
Physical Environment - - - - -
Transportation
Health and Human Services - - -
Economic Environment 118,100 118,100 150,629 (32,529) (32,529)
Culture and Recreation - - - - -
Capital Outlay 638,175 638,175 411,436 226,739 226,739
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 816,775 816,775 610,065 206,710 206,710
Excess of Revenues Over(Under)Expenditures 66,400 66,400 7,492 (58,908) (58,908)
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - -
Transfers-In - -
Transfers-(Out) (128,000) (128,000) (80,000) 48,000 48,000
Total Other Financing Sources(Uses) (128,000) (128,000) (80,000) 48,000 48,000
Net Change in Fund Balances (61,600) (61,600) (72,508) (10,908) (10,908)
Prior Period Adjustments - - -
Fund Balance Beginning 90,000 90,000 77,536 (12,464) (12,464)
Fund Balance,Ending $ 28,400 $ 28,400 $ 5,028 $ (23,372) $ (23,372)
See accompanying notes to the basic financial statements.
100
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
ML KING COMMUNITY CENTER FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue - -
Charges for Services 2,000 2,000 3,890 1,890 1,890
Fines&Forfeitures - - - - -
Investment Income 200 200 125 (75) (75)
Miscellaneous Revenue 28,000 28,000 28,634 634 634
Total Revenues 30,200 30,200 32,649 2,449 2,449
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment - - - -
Culture and Recreation 137,850 158,750 146,426 (8,576) 12,324
Capital Outlay - - - -
Debt Service
Principal -
Interest - - - -
Total Expenditures 137,850 158,750 146,426 (8,576) 12,324
Excess of Revenues Over(Under)Expenditures (107,650) (128,550) (113,777) (6,127) 14,773
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In 95,000 115,900 105,900 10,900 (10,000)
Transfers-(Out) - - - -
Total Other Financing Sources(Uses) 95,000 115,900 105,900 10,900 (10,000)
Net Change in Fund Balances (12,650) (12,650) (7,877) 4,773 4,773
Prior Period Adjustments - - - - -
Fund Balance Beginning 15,000 15,000 15,605 605 605
Fund Balance,Ending $ 2,350 $ 2,350 $ 7,728 $ 5,378 $ 5,378
See accompanying notes to the basic financial statements.
101
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
AMBULANCE SERVICES FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits - -
Intergovernmental Revenue 1,200 1,200 1,726 526 526
Charges for Services 1,480,000 1,680,000 1,811,945 331,945 131,945
Fines&Forfeitures - - - - -
Investment Income - - (1,504) (1,504) (1,504)
Miscellaneous Revenue 16,200 16,200 9,250 (6,950) (6,950)
Total Revenues 1,497,400 1,697,400 1,821,417 324,017 124,017
EXPENDITURES
Current:
General Government - - - - -
Judicial - - - -
Public Safety 1,968,850 2,173,350 2,042,974 (74,124) 130,376
Physical Environment - - - -
Transportation -
Health and Human Services -
Economic Environment -
Culture and Recreation - - - -
Capital Outlay 12,500 12,500 12,500 12,500
Debt Service
Principal - - - -
Interest - - - -
Total Expenditures 1,981,350 2,185,850 2,042,974 (61,624) 142,876
Excess of Revenues Over(Under)Expenditures (483,950) (488,450) (221,557) 262,393 266,893
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In 420,000 424,500 420,000 (4,500)
Transfers-(Out) - - -
Total Other Financing Sources(Uses) 420,000 424,500 420,000 - (4,500)
Net Change in Fund Balances (63,950) (63,950) 198,443 262,393 262,393
Prior Period Adjustments - - - - -
Fund Balance Beginning 80,000 80,000 44,358 (35,642) (35,642)
Fund Balance,Ending $ 16,050 $ 16,050 $ 242,801 $ 226,751 $ 226,751
See accompanying notes to the basic financial statements.
102
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
CONTINGENCYFUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - -
Investment Income 5,000 5,000 4,624 (376) (376)
Miscellaneous Revenue - - - - -
Total Revenues 5,000 5,000 4,624 (376) (376)
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services - -
Economic Environment - -
Culture and Recreation -
Capital Outlay -
Debt Service
Principal -
Interest -
Total Expenditures - - - - -
Excess of Revenues Over(Under)Expenditures 5,000 5,000 4,624 (376) (376)
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In
Transfers-(Out) -
Total Other Financing Sources(Uses) - - - - -
Net Change in Fund Balances 5,000 5,000 4,624 (376) (376)
Prior Period Adjustments - - - - -
Fund Balance Beginning 160,000 160,000 164,611 4,611 4,611
Fund Balance,Ending $ 165,000 $ 165,000 $ 169,235 $ 4,235 $ 4,235
See accompanying notes to the basic financial statements.
103
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
CITY VIEW CENTERY FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue -
ChargesforServices 215,000 245,000 213,890 (1,110) (31,110)
Fines&Forfeitures - - - - -
Investment Income 2,200 2,200 2,620 420 420
Miscellaneous Revenue 1,500 1,500 557 (943) (943)
Total Revenues 218,700 248,700 217,067 (1,633) (31,633)
EXPENDITURES
Current:
General Government - - -
Judicial -
Public Safety - - -
Physical Environment 223,305 238,305 248,041 (24,736) (9,736)
Transportation - - -
Health and Human Services - -
Economic Environment - -
Culture and Recreation -
Capital Outlay - - - -
Debt Service
Principal 20,000 50,000 20,000 50,000
Interest 2,000 2,000 - 2,000 2,000
Total Expenditures 245,305 290,305 248,041 (2,736) 42,264
Excess of Revenues Over(Under)Expenditures (26,605) (41,605) (30,974) (4,369) 10,631
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In 21,200 21,200 21,741 541 541
Transfers-(Out) - - - - -
Total Other Financing Sources(Uses) 21,200 21,200 21,741 541 541
Net Change in Fund Balances (5,405) (20,405) (9,233) (3,828) 11,172
Prior Period Adjustments - - -
Fund Balance Beginning 10,000 25,000 (23,345) (33,345) (48,345)
Fund Balance,Ending $ 4,595 $ 4,595 $ (32,578) $ (37,173) $ (37,173)
See accompanying notes to the basic financial statements.
104
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
ATHLETIC PROGRAM FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue - -
Charges for Services 81,000 81,000 91,348 10,348 10,348
Fines&Forfeitures - - - - -
Investment Income 1,500 1,500 1,654 154 154
Miscellaneous Revenue 500 500 - (500) (500)
Total Revenues 83,000 83,000 93,002 10,002 10,002
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment - - - - -
Culture and Recreation 102,875 102,875 91,486 11,389 11,389
Capital Outlay - - - - -
Debt Service
Principal -
Interest - - - - -
Total Expenditures 102,875 102,875 91,486 11,389 11,389
Excess of Revenues Over(Under)Expenditures (19,875) (19,875) 1,516 21,391 21,391
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - -
Transfers-In
Transfers-(Out) -
Total Other Financing Sources(Uses) - - - -
Net Change in Fund Balances (19,875) (19,875) 1,516 21,391 21,391
Prior Period Adjustments - - (47) (47) (47)
Fund Balance Beginning 40,000 40,000 67,799 27,799 27,799
Fund Balance,Ending $ 20,125 $ 20,125 $ 69,268 $ 49,143 $ 49,143
See accompanying notes to the basic financial statements.
105
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
SENIOR CENTER OPERATING FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits - -
Intergovernmental Revenue 18,000 18,000 29,119 11,119 11,119
Charges for Services - - - - -
Fines&Forfeitures - - - -
Investment Income - - 571 571 571
Miscellaneous Revenue 47,600 47,600 42,680 (4,920) (4,920)
Total Revenues 65,600 65,600 72,370 6,770 6,770
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety - -
Physical Environment -
Transportation - - - -
Health and Human Services 44,425 56,425 46,117 (1,692) 10,308
Economic Environment - - - -
Culture and Recreation 217,142 231,242 233,450 (16,308) (2,208)
Capital Outlay - - -
Debt Service
Principal -
Interest - - - -
Total Expenditures 261,567 287,667 279,567 (18,000) 8,100
Excess of Revenues Over(Under)Expenditures (195,967) (222,067) (207,197) (11,230) 14,870
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In 195,000 221,100 219,500 24,500 (1,600)
Transfers-(Out) - - - -
Total Other Financing Sources(Uses) 195,000 221,100 219,500 24,500 (1,600)
Net Change in Fund Balances (967) (967) 12,303 13,270 13,270
Prior Period Adjustments - - (100) (100) (100)
Fund Balance Beginning 5,000 5,000 14,842 9,842 9,842
Fund Balance,Ending $ 4,033 $ 4,033 $ 27,045 $ 23,012 $ 23,012
See accompanying notes to the basic financial statements.
106
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
MULTI-MODAL FACILITY FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - -
Investment Income 500 500 568 68 68
Miscellaneous Revenue 55,000 55,000 62,239 7,239 7,239
Total Revenues 55,500 55,500 62,807 7,307 7,307
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety -
Physical Environment - - - - -
Transportation 54,290 54,290 54,364 (74) (74)
Health and Human Services - - - - -
Economic Environment
Culture and Recreation
Capital Outlay
Debt Service
Principal -
Interest - - - - -
Total Expenditures 54,290 54,290 54,364 (74) (74)
Excess of Revenues Over(Under)Expenditures 1,210 1,210 8,443 7,233 7,233
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In
Transfers-(Out)
Total Other Financing Sources(Uses) - - - - -
Net Change in Fund Balances 1,210 1,210 8,443 7,233 7,233
Prior Period Adjustments - - - - -
Fund Balance Beginning 10,000 10,000 6,696 (3,304) (3,304)
Fund Balance,Ending $ 11,210 $ 11,210 $ 15,139 $ 3,929 $ 3,929
See accompanying notes to the basic financial statements.
107
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
BI-CENTENIAL FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - -
Investment Income 200 200 167 (33) (33)
Miscellaneous Revenue - - - - -
Total Revenues 200 200 167 (33) (33)
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment -
Culture and Recreation -
Capital Outlay -
Debt Service
Principal -
Interest - -
Total Expenditures - - - - -
Excess of Revenues Over(Under)Expenditures 200 200 167 (33) (33)
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In
Transfers-(Out) -
Total Other Financing Sources(Uses) - - - - -
Net Change in Fund Balances 200 200 167 (33) (33)
Prior Period Adjustments - - - - -
Fund Balance Beginning 5,900 5,900 5,967 67 67
Fund Balance,Ending $ 6,100 $ 6,100 $ 6,134 $ 34 $ 34
See accompanying notes to the basic financial statements.
108
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
RIVERSHORE TRAIL&MARINA MAINTENANCE FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - -
Investment Income 400 400 237 (163) (163)
Miscellaneous Revenue 11,800 11,800 11,850 50 50
Total Revenues 12,200 12,200 12,087 (113) (113)
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety - -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment - - - - -
Culture and Recreation 19,925 19,925 12,619 7,306 7,306
Capital Outlay - - - - -
Debt Service
Principal -
Interest - - - - -
Total Expenditures 19,925 19,925 12,619 7,306 7,306
Excess of Revenues Over(Under)Expenditures (7,725) (7,725) (532) 7,193 7,193
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - -
Transfers-In
Transfers-(Out)
Total Other Financing Sources(Uses) - - - -
Net Change in Fund Balances (7,725) (7,725) (532) 7,193 7,193
Prior Period Adjustments - - - - -
Fund Balance Beginning 15,000 15,000 10,494 (4,506) (4,506)
Fund Balance,Ending $ 7,275 $ 7,275 $ 9,962 $ 2,687 $ 2,687
See accompanying notes to the basic financial statements.
109
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
SPECIAL ASSESSMENT LODGING FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ 190,000 $ 190,000 $ 193,950 $ 3,950 $ 3,950
Licenses&Permits - - - - -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - - - - -
Investment Income 300 300 469 169 169
Miscellaneous Revenue - - - - -
Total Revenues 190,300 190,300 194,419 4,119 4,119
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety - -
Physical Environment - -
Transportation -
Health and Human Services - - -
Economic Environment 190,000 190,000 191,118 (1,118) (1,118)
Culture and Recreation - - -
Capital Outlay -
Debt Service
Principal -
Interest - - -
Total Expenditures 190,000 190,000 191,118 (1,118) (1,118)
Excess of Revenues Over(Under)Expenditures 300 300 3,301 3,001 3,001
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In
Transfers-(Out)
Total Other Financing Sources(Uses) - - - - -
Net Change in Fund Balances 300 300 3,301 3,001 3,001
Prior Period Adjustments - - - - -
Fund Balance Beginning 100 100 24,208 24,108 24,108
Fund Balance,Ending $ 400 $ 400 $ 27,509 $ 27,109 $ 27,109
See accompanying notes to the basic financial statements.
110
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
LITTER ABATEMENT FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue -
Charges for Services 5,000 5,000 5,000
Fines&Forfeitures - - - -
Investment Income 100 100 329 229 229
Miscellaneous Revenue 7,500 7,500 7,500 0 0
Total Revenues 12,600 12,600 12,829 229 229
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety -
Physical Environment - - 13,265 (13,265) (13,265)
Transportation 13,200 13,200 - 13,200 13,200
Health and Human Services - - - - -
Economic Environment -
Culture and Recreation
Capital Outlay
Debt Service
Principal -
Interest - - - - -
Total Expenditures 13,200 13,200 13,265 (65) (65)
Excess of Revenues Over(Under)Expenditures (600) (600) (436) 164 164
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In
Transfers-(Out)
Total Other Financing Sources(Uses) - - - - -
Net Change in Fund Balances (600) (600) (436) 164 164
Prior Period Adjustments - - - - -
Fund Balance Beginning 4,000 4,000 9,943 5,943 5,943
Fund Balance,Ending $ 3,400 $ 3,400 $ 9,507 $ 6,107 $ 6,107
See accompanying notes to the basic financial statements.
111
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
REVOLVING ABATEMENT FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue - -
Charges for Services 4,600 4,600 109,974 105,374 105,374
Fines&Forfeitures 45,000 45,000 50,753 5,753 5,753
Investment Income 10,000 10,000 5,882 (4,118) (4,118)
Miscellaneous Revenue 20,000 20,000 20,021 21 21
Total Revenues 79,600 79,600 186,630 107,030 107,030
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services - - -
Economic Environment 31,225 31,225 123,330 (92,105) (92,105)
Culture and Recreation - - -
Capital Outlay -
Debt Service
Principal -
Interest - - -
Total Expenditures 31,225 31,225 123,330 (92,105) (92,105)
Excess of Revenues Over(Under)Expenditures 48,375 48,375 63,300 14,925 14,925
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In
Transfers-(Out)
Total Other Financing Sources(Uses) - - - - -
Net Change in Fund Balances 48,375 48,375 63,300 14,925 14,925
Prior Period Adjustments - - - - -
Fund Balance Beginning 250,000 250,000 272,502 22,502 22,502
Fund Balance,Ending $ 298,375 $ 298,375 $ 335,802 $ 37,427 $ 37,427
See accompanying notes to the basic financial statements.
112
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
T.R.A.C.DEVELOPMENT&OPERATING FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ 210,000 $ 210,000 $ 219,769 $ 9,769 $ 9,769
Licenses&Permits - - - - -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - - - - -
Investment Income 300 300 1,059 759 759
Miscellaneous Revenue - - - - -
Total Revenues 210,300 210,300 220,828 10,528 10,528
EXPENDITURES
Current:
General Government - - - - -
Judicial -
Public Safety - -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment - - - -
Culture and Recreation 150,000 376,700 301,664 (151,664) 75,036
Capital Outlay - - - -
Debt Service
Principal 70,350 70,350 76,552 (6,202) (6,202)
Interest 31,625 31,625 25,193 6,432 6,432
Total Expenditures 251,975 478,675 403,409 (151,434) 75,266
Excess of Revenues Over(Under)Expenditures (41,675) (268,375) (182,581) (140,906) 85,794
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In 45,000 271,700 196,700 151,700 (75,000)
Transfers-(Out) - - - -
Total Other Financing Sources(Uses) 45,000 271,700 196,700 151,700 (75,000)
Net Change in Fund Balances 3,325 3,325 14,119 10,794 10,794
Prior Period Adjustments - - - - -
Fund Balance Beginning 5,000 5,000 127,643 122,643 122,643
Fund Balance,Ending $ 8,325 $ 8,325 $ 141,762 $ 133,437 $ 133,437
See accompanying notes to the basic financial statements.
113
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
PARK DEVELOPMENT FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue - -
Charges for Services 178,000 178,000 182,553 4,553 4,553
Fines&Forfeitures - - - - -
Investment Income 50,000 50,000 52,748 2,748 2,748
Miscellaneous Revenue - - - - -
Total Revenues 228,000 228,000 235,301 7,301 7,301
EXPENDITURES
Current:
General Government - - - - -
Judicial
Public Safety -
Physical Environment -
Transportation -
Health and Human Services - -
Economic Environment -
Culture and Recreation - - - - -
Capital Outlay 120,000 120,000 93,424 26,576 26,576
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 120,000 120,000 93,424 26,576 26,576
Excess of Revenues Over(Under)Expenditures 108,000 108,000 141,877 33,877 33,877
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - - - -
Transfers-In - - -
Transfers-(Out) (417) (417) (417)
Total Other Financing Sources(Uses) - - (417) (417) (417)
Net Change in Fund Balances 108,000 108,000 141,460 33,460 33,460
Prior Period Adjustments - - - - -
Fund Balance Beginning 1,700,000 1,700,000 1,800,335 100,335 100,335
Fund Balance,Ending $ 1,808,000 $ 1,808,000 $ 1,941,795 $ 133,795 $ 133,795
See accompanying notes to the basic financial statements.
114
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
CAPITAL IMPROVEMENT FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ 500,000 $ 500,000 $ 522,034 $ 22,034 $ 22,034
Licenses&Permits - - - - -
Intergovernmental Revenue -
Charges for Services -
Fines&Forfeitures - - - - -
Investment Income 100,000 100,000 107,716 7,716 7,716
Miscellaneous Revenue - - - - -
Total Revenues 600,000 600,000 629,750 29,750 29,750
EXPENDITURES
General Government - - - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment -
Culture and Recreation - - - - -
Capital Outlay 2,700,000 2,700,000 2,926 2,697,074 2,697,074
Debt Service
Principal - - - - -
Interest - - - - -
Total Expenditures 2,700,000 2,700,000 2,926 2,697,074 2,697,074
Excess of Revenues Over(Under)Expenditures (2,100,000) (2,100,000) 626,824 2,726,824 2,726,824
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - -
Transfers-In
Transfers-(Out) (1,114) (1,114) (1,114)
Total Other Financing Sources(Uses) (1,114) (1,114) (1,114)
Net Change in Fund Balances (2,100,000) (2,100,000) 625,710 2,725,710 2,725,710
Prior Period Adjustments - - - - -
Fund Balance Beginning 3,600,000 3,600,000 3,570,605 (29,395) (29,395)
Fund Balance,Ending $ 1,500,000 $ 1,500,000 $ 4,196,315 $ 2,696,315 $ 2,696,315
See accompanying notes to the basic financial statements.
115
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
INDUSTRIAL DEVELOPMENT&INFRASTRUCTURE FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ $ $ $ $
Licenses&Permits -
Intergovernmental Revenue 160,000 160,000 85,793 (74,207.00) (74,207.00)
Charges for Services - - -
Fines&Forfeitures - - -
Investment Income 20,000 20,000 17,885 (2,115) (2,115)
Miscellaneous Revenue - - -
Total Revenues 180,000 180,000 103,678 (76,322) (76,322)
EXPENDITURES
Current:
General Government - - -
Judicial -
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment -
Culture and Recreation - -
Capital Outlay - 29,461 (29,461) (29,461)
Debt Service
Principal - -
Interest - -
Total Expenditures - - 29,461 (29,461) (29,461)
Excess of Revenues Over(Under)Expenditures 180,000 180,000 74,217 (105,783) (105,783)
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - -
Transfers-In
Transfers-(Out)
Total Other Financing Sources(Uses) - -
Net Change in Fund Balances 180,000 180,000 74,217 (105,783) (105,783)
Prior Period Adjustments - - - - -
Fund Balance Beginning 575,000 575,000 635,378 60,378 60,378
Fund Balance,Ending $ 755,000 $ 755,000 $ 709,595 $ (45,405) $ (45,405)
See accompanying notes to the basic financial statements.
116
City o f Pasco. Washington 20 oA Comprehensive .annual�-inanciaC eport
Statement of Revenues,Expenditures and Changes in Fund Balances
Budget to Actual
STADIUM/CONVENTION CENTER FUND
For the Year Ended December 31,2009
Original Final Variance to Variance to
Budget Budget Actual Original Budget Final Budget
REVENUES
Taxes $ 210,000 $ 210,000 $ 219,770 $ 9,770 $ 9,770
Licenses&Permits - - - - -
Intergovernmental Revenue 200,000 200,000 193,590 (6,410) (6,410)
Charges for Services - - -
Fines&Forfeitures - - - - -
Investment Income 250 250 1,242 992 992
Miscellaneous Revenue 14,540 14,540 15,754 1,214 1,214
Total Revenues 424,790 424,790 430,356 5,566 5,566
EXPENDITURES
Current:
General Government - - - - -
Judicial
Public Safety -
Physical Environment -
Transportation -
Health and Human Services -
Economic Environment - - - - -
Culture and Recreation 124,000 124,000 112,588 11,412 11,412
Capital Outlay 200,000 200,000 - 200,000 200,000
Debt Service
Principal 100,000 100,000 100,000 - -
Interest 27,250 27,250 26,950 300 300
Total Expenditures 451,250 451,250 239,538 211,712 211,712
Excess of Revenues Over(Under)Expenditures (26,460) (26,460) 190,818 217,278 217,278
OTHER FINANCING SOURCES(USES)
Insurance Recoveries - - -
Transfers-In
Transfers-(Out) - (201,589) (201,589) (201,589)
Total Other Financing Sources(Uses) - (201,589) (201,589) (201,589)
Net Change in Fund Balances (26,460) (26,460) (10,771) 15,689 15,689
Prior Period Adjustments - - - - -
Fund Balance Beginning 35,000 35,000 26,642 (8,358) (8,358)
Fund Balance,Ending $ 8,540 $ 8,540 $ 15,871 $ 7,331 $ 7,331
See accompanying notes to the basic financial statements.
117
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
Combining Statement of Net Assets
Internal Services Fund
For the Year Ended December 31,2009
Governmental Activities
Internal Service Funds
Equipment Equipment Medical
Rental Rental Animal Central Insurance 2009 2008
Operations Replacement Control Stores Fund Total Total
ASSETS
Current Assets:
Current Cash&Cash Equivalents $ 284,209 $ 2,788,548 $ 2,106 $ 10,876 $ 1,597,974 $4,683,713 $ 4,067,115
Receivables(net of allowances)
Interfund Loans Receivable - 538,905 - - - 538,905 100,000
Merchandise Inventory - - - 8,179 - 8,179 8,357
Interest Receivable 935 13,923 167 52 8,140 23,217 25,132
Due from Governmental Units - - 17,226 17,226 25,708
Total Current Assets 285,144 3,341,376 19,499 19,107 1,606,114 5,271,240 4,226,312
Non-Current Assets:
Restricted Assets - - - - - - -
Fixed Assets 5,429,596 92,050 5,521,646 5,357,490
Less:Accumulated Depreciation - (3,325,908) (53,745) - - (3,379,653) (3,051,293)
TOTAL ASSETS 285,144 5,445,064 57,804 19,107 1,606,114 7,413,233 6,532,509
LIABILITIES
Current Liabilities:
Accounts Payable 14,928 1,731 13,583 526 - 30,768 34,068
Current Portion Loan Payable - - - - - 160,000
Total Current Liabilities 14,928 1,731 13,583 526 30,768 194,068
Non-Current Liabilities
Compensated Absences 24,885 - - - 24,885 20,934
Interfund Loans Payable - - 160,000
Current Portion Loan Payable - - (160,000)
Claims Incurred Not Reported - - 550,000 550,000 550,000
Total Liabilities 39,813 1,731 13,583 526 550,000 605,653 765,002
NETASSETS
Investment in Capital Assets,Net
of Related Debt - 2,103,688 38,305 - - 2,141,993 2,306,197
Restricted for Debt Service - 538,905 - - - 538,905 100,000
Unrestricted 245,331 2,800,740 5,916 18,581 1,056,114 4,126,682 3,361,310
Total Net Assets $ 245,331 $ 5,443,333 $ 44,221 $ 18,581 $ 1,056,114 $6,807,580 $ 5,767,507
See accompanying notes to the basic financial statements.
118
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
Combining Statement of Net Assets
Internal Services Fund
For the Year Ended December 31,2009
Business Type Activities
Internal Service Funds
Equipment Equipment
Rental Rental 2009 2008
Operations Replacement Total Total
ASSETS
Current Assets:
Current Cash&Cash Equivalents $ 115,790 $ 1,451,330 $ 1,567,120 $ 1,388,164
Receivables(net of allowances)
Interfund Loans Receivable - - - -
Merchandise Inventory - - - -
Interest Receivable 1,016 7,133 8,149 10,404
Due from Governmental Units - - -
Total Current Assets 116,806 1,458,463 1,575,269 1,398,568
Non-Current Assets:
Restricted Assets - - - -
Fixed Assets 2,234,876 2,234,876 2,104,799
Less:Accumulated Depreciation - (1,181,178) (1,181,178) (1,103,516)
TOTAL ASSETS 116,806 2,512,161 2,628,967 2,399,851
LIABILITIES
Current Liabilities:
Accounts Payable 678 - 678 5,819
Current Portion Loan Payable - - -
Total Current Liabilities 678 678 5,819
Non-Current Liabilities
Compensated Absences 7,883 7,883 7,883
Interfund Loans Payable - - -
Current Portion Loan Payable
Claims Incurred Not Reported - - -
Total Liabilities 8,561 - 8,561 13,702
NET ASSETS
Investment in Capital Assets,Net
of Related Debt - 1,053,698 1,053,698 2,104,799
Restricted for Debt Service - - - -
Unrestricted 108,245 1,458,463 1,566,708 281,350
Total Net Assets $ 108,245 $ 2,512,161 $ 2,620,406 $ 2,386,149
See accompanying notes to the basic financial statements.
119
City of Pasco, `Washington 2009 Comprehensive .annual Tinancial Report
Combining Statement of Revenues,Expenditures,and Changes in Fund Net Assets
Internal Services Fund
For the Year Ended December 31,2009
Governmental Activities
Internal Service Funds
Equipment Equipment Medical
Rental Rental Animal Central Insurance 2009 2008
Operations Replacement Control Stores Fund Total Total
OPERATING REVENUES
Charges for Services-Internal $ 931,740 $ 464,620 $ 182,417 $ 15,547 $ 3,495,008 $ 5,089,332 $ 4,499,715
Charges for Services-Other 11,953 41,900 433,619 487,472 725,659
Total Operating Revenues 943,693 506,520 616,036 15,547 3,495,008 5,576,804 5,225,374
OPERATING EXPENSES
Operating Expenses 124,380 - 613,863 17,377 24,000 779,620 749,983
Maintenance Expenses 711,807 394 - - - 712,201 766,902
Insurance Claims and Expenses - - - 2,886,658 2,886,658 2,628,228
Depreciation - 407,625 14,019 - 421,644 438,819
Capital Outlays 3,943 - 3,943 5,167
Total Operating Expenses 840,130 408,019 627,882 17,377 2,910,658 4,804,066 4,589,099
OPERATING INCOME(LOSS) 103,563 98,501 (11,846) (1,830) 584,350 772,738 636,275
NON-OPERATING REVENUES(EXPENSES)
Investment Income 4,215 74,943 627 285 37,708 117,778 128,396
Total Non-Operating Revenues(Expenses) 4,215 74,943 627 285 37,708 117,778 128,396
Income(Loss)before Contributions and
Transfers 107,778 173,444 (11,219) (1,545) 622,058 890,516 764,671
Capital Contributions - 68,957 - 68,957 234,525
Transfers In 80,982 - 80,982 61,222
Transfers(Out) - -
Changes in Net Assets 188,760 242,401 (11,219) (1,545) 622,058 1,040,455 1,060,418
Prior Year Adjustments - - - - (382) (382) (426,290)
NET ASSETS-BEGINNING 56,571 5,200,932 55,440 20,126 434,438 5,767,507 5,133,379
NETASSETS-ENDING $ 245,331 $ 5,443,333 $ 44,221 $ 18,581 $ 1,056,114 $ 6,807,580 $ 5,767,507
See accompanying notes to the basic financial statements.
120
City of Pasco, `Washington 2009 Comprehensive .annual TinancialReport
Combining Statement of Revenues,Expenditures,and Changes in Fund Net Assets
Internal Services Fund
For the Year Ended December 31,2009
Business-type Activities
Internal Service Funds
Equipment Equipment
Rental Rental 2009 2008
Operations Replacement Total Total
OPERATING REVENUES
Charges for Services-Internal $ 385,020 $ 242,280 $ 627,300 $ 525,120
Charges for Services-Other 2,613 2,613 6,424
Total Operating Revenues 387,633 242,280 629,913 531,544
OPERATING EXPENSES
Operating Expenses 16,800 - 16,800 18,000
Maintenance Expenses 185,356 185,356 225,973
Insurance Claims and Expenses - - - -
Depreciation 222,734 222,734 223,970
Capital Outlays/sale of assets - (22,122) (22,122) 16,627
Total Operating Expenses 202,156 200,612 402,768 484,570
OPERATING INCOME(LOSS) 185,477 41,668 227,145 46,974
NON-OPERATING REVENUES(EXPENSES)
Investment Income 3,967 35,530 39,497 51,925
Total Non-Operating Revenues(Expenses) 3,967 35,530 39,497 51,925
Income(Loss)before Contributions and
Transfers 189,444 77,198 266,642 98,899
Capital Contributions - 48,597 48,597 238,162
Transfers In - - -
Transfers(Out) (80,982) - (80,982) (51,700)
Changes in Net Assets 108,462 125,795 234,257 285,361
Prior Year Adjustments - - - -
NET ASSETS-BEGINNING (217) 2,386,366 2,386,149 2,100,788
NET ASSETS-ENDING $ 108,245 $ 2,512,161 $ 2,620,406 $ 2,386,149
See accompanying notes to the basic financial statements.
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City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
Combining Statement of Cash Flows
Internal Services Fund
For the Year Ended December 31,2009
Governmental Activities
Internal Service Funds
Equipment Equipment Medical
Rental Rental Animal Central Insurance
Operations Replacement Control Stores Fund Total
CASH FLOW FROM OPERATING ACTIVITIES:
Cash Received from Customers $ 943,693 $ 501,191 $ 584,505 $ 15,513 $ 3,493,822 $ 5,538,724
Payments for Maintenance&Ops. (838,056) - (569,160) (15,471) (24,000) (1,446,687)
Payments to Employees - - - (2,886,806) (2,886,806)
Net Cash provided by operating activities 105,637 501,191 15,345 42 583,016 1,205,231
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Prior Year Adjustments 65,747 - - (382) 65,365
Transfers In(Out) 80,982 80,982
146,729 - (382) 146,347
CASH FLOW FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:
Acquisition of Capital Assets - 68,957 68,957
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Activities Income 4,486 74,943 627 285 37,708 118,049
Interfund Loans 0 0 0
Net Cash Provided from Investing Activities 4,486 74,943 627 285 37,708 118,049
Net Increase(Decrease)in Cash and
Cash Equivalents 256,852 645,091 15,972 327 620,342 1,538,584
Cash and Cash Equivalents January 1 27,357 3,247,427 41,073 14,648 556,813 3,887,318
Cash and Cash Equivalents December 31 $ 284,209 $ 3,892,518 $ 57,045 $ 14,975 $ 1,177,155 $ 5,425,902
CASH PROVIDED BYOPERATING
ACTIVITIES:
Net Operating Income $ 103,563 $ 98,501 $ (11,846) $ (1,830) $ 584,350 $ 772,738
ADJUSTMENTS TO RECONCILE OPERATING
INCOME TO NET CASH PROVIDED BY
OPERATING ACTIVITIES
Depreciation 407,625 14,019 - 421,644
(Increase)/Decrease in Customer Receivables (5,329) (31,531) (34) (1,186) (38,080)
Increase/(Decrease)in Accounts Payable (1,877) 44,703 1,906 (148) 44,584
Increase/(Decrease)in Compensated Absences 3,951 - - - - 3,951
Net Cash Provide by Operating Activities $ 105,637 $ 500,797 $ 15,345 $ 42 $ 583,016 $ 1,204,837
See accompanying notes to the basic financial statements.
122
City of Pasco, `Washington 2009 Comprehensive .annual TinancialPeport
Combining Statement of Cash Flows
Internal Services Fund
For the Year Ended December 31,2009
Business-type Activities
Internal Service Funds
Equipment Equipment
Rental Rental
Operations Replacement Total
CASH FLOW FROM OPERATING ACTIVrTIES:
Cash Received from Customers $ 387,633 $ 242,280 $ 629,913
Payments for Maintenance&Ops. (198,742) 22,122 (176,620)
Payments to Employees - - -
Net Cash provided by operating activities 188,891 264,402 453,293
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Prior Year Adjustments - - -
Transfers In(Out)'
CASH FLOW FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:
Acquisition of Capital Assets - 48,597 48,597
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment Activities Income 3,967 35,530 39,497
Interfund Loans 0 0 0
Net Cash Provided from Investing Activities 3,967 35,530 39,497
Net Increase(Decrease)in Cash and
Cash Equivalents 192,858 348,529 541,387
Cash and Cash Equivalents January 1 (6,470) 1,658,279 1,651,809
Cash and Cash Equivalents December 31 $ 186,388 $ 2,006,808 $ 2,193,196
`Reflects activities on interfund loans
CASH PROVIDED BY OPERATING
ACTIV rTIES:
Net Operating Income $ 185,477 $ 41,668 $ 227,145
ADJUSTMENTS TO RECONCILE OPERATING
INCOME TO NET CASH PROVIDED BY
OPERATING ACTIVITIES
Depreciation 222,734 222,734
(Increase)/Decrease in Customer Receivables - - -
Increase/(Decrease)in Accounts Payable 3,414 3,414
Increase/(Decrease)in Compensated Absences -
Net Cash Provide by Operating Activities $ 188,891 $ 264,402 $ 453,293
See accompanying notes to the basic financial statements.
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City o f Pasco, Washington zooA Comprehensive .annual Financial eport
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124
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
MCAG NO. 0292
CITY OF PASCO, WASHINGTON
SCHEDULE 8-REAL AND PERSONAL PROPERTY TAXES
(ALL TAX-SUPPORTED FUNDS)
For the Year Ended December 31, 2009
TAXES
FUND RECEIVABLE TAXRATE TAXES LEVIED TAXES NETTAX TAXES REC.
NO. FUND NAME 1/1/2009 /$1,000 REPORTYEAR COLLECTED ADJUST. 12/31/2009
010 General Fund $282,971 2.0042 $5,725,000 $5,730,455 $5,086 $282,602
271 93 Civic Center Bonds 1,158 0.0000 0 420 (242) 496
272 Fire/Library Bond 7,695 0.0615 155,000 153,709 (728) 8,258
273 2002 UTGO Bonds 18,527 0.1690 381,000 378,875 (1,756) 18,896
TOTAL TAXES $310,351 2.2347 $6,261,000 $6,263,459 $2,360 $310,252
" Receivable amounts reflect balance after December 2009 tax payments. This amount agrees with the Tax Account Balance
Report printed on 03/24/10 from Franklin County Treasurer's Office.
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126
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
MCAG NO. 0292
SCHEDULE 9- LONG-TERM DEBT- L.I.D. ASSESSMENTS
Year Ended December 31, 2009
FINAL ORIGINAL
ISSUE MATURITY INTEREST ISSUE
ID. NO. AND DESCRIPTION PURPOSE DATE DATE RATE AMOUNT
BONDS:
253.12 2001 U.L.I.D. 135 Bonds 582.41.73 11/02 11/12 5.75% $ 536,975
536,975
NOTES:
263.63 LID 125 Note 582.41.73 12/00 12/07 6.00% 80,960
263.63 LID 138 Note 581.20.77 12/05 12/05 5.00% 57,662
263.63 LID 139 Note 581.20.77 12/02 12/17 5.00% 405,375
263.63 LID 140 Note 581.20.77 12/03 12/18 4.50% 71,943
263.63 LID 901 Note 582.41.73 12/02 12/12 4.00% 45,700
661,640
TOTAL L. I. D. ASSESSMENT DEBT $ 1,198,615
BEGINNING AMOUNT ENDING
UNMATURED AMOUNT DUE THIS UNMATURED
DEBT ISSUED PERIOD DEBT
LID 135 Bonds $ 120,000 $ 0 $ 105,000 $ 15,000
120,000 0 105,000 15,000
LID 125 Note 16,800 0 0 16,800
LID 138 Note 15,500 0 1,475 14,025
LID 140 Note 1,500 0 463 1,037
LID 901 Note 1,100 0 640 460
34,900 0 2,578 32,322
$ 154,900 $ 0 $ 107,578 $47,322
127
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
MCAG NO.0292
SCHEDULE 9-LONG-TERM DEBT-G.O.AND REVENUE
Year Ended December 31,2009
FINAL ORIGINAL
ISSUE MATURITY INTEREST ISSUE
DESCRIPTION PURPOSE DATE DATE RATE AMOUNT
G.O. DEBT
Councilmanic G.O. Bonds
251.11 2001 L.T.G.O. Bond 594.74.63 3/1/2001 12/1/2020 4.25-5.05% $6,900,000
251.16 2002 LTGO&Refunding Bond 594.74.63 10/1/2002 4/1/2022 2-4.7% 3,635,000
Total Councilmanic G.O. Bonds $10,535,000
Voted G.O. Bonds
251.12 1999 G.O.B. Library 594.73.62 10/1/1999 12/1/2019 5.2-5.6% $1,700,000
251.12 2002 UTGO Refunding Bond 594.74.63 11/1/2002 12/1/2013 2.5-4.0% 3,155,000
Total Voted G. O. Bonds $4,855,000
TOTAL G.O. DEBT $15,390,000
Other Debt
263.81 TRAC Loan 12/1/1997 12/1/2014 4.5-5.5% $1,197,931
263.81 Port of Pasco Airport Fire Bldg 7/12/2006 7/12/2016 4.00% 120,000
263.81 State L.O.C.A.L. Bond-Computers 594.74.63 12/1/2009 6/1/2013 3.47% 200,000
263.81 State L.O.C.A.L. Bond-Animal Control 594.74.63 11/1/2001 12/1/2016 6.24% 275,500
263.81 State L.O.C.A.L. Bond-Patrol 594.74.63 12/1/2004 12/1/2008 3.19% 161,640
Total Other Debt $1,955,071
UTILITY DEBT
263.82 State Revolving Loan Fund 594.35.63 5/31/1994 10/31/2015 1.0% $24,664,959
263.82 P.W.T.F. Loan#95025-Sewer Plant 594.35.63 6/30/1995 6/30/2015 1.0% 812,700
263.82 P.W.T.F. Loan#95026-Road 100 Water Re: 594.34.63 6/30/1995 6/30/2015 1.0% 2,687,300
252.11 1998 W/S Revenue Bonds 594.35.63 9/15/1998 6/1/2018 5.5-6.45% 2,255,000
252.15 1998 W/S Refunding Bonds 594.34.63 9/15/1998 6/1/2014 3.8-4.6% 6,725,000
252.11 1998 W/S Revenue Bonds 594.35.63 9/15/1998 6/1/2014 3.7-4.8% 1,515,000
252.11 1999 W/S Revenue Bonds 594.35.63 10/7/1999 9/1/2016 4.10-5.8% 985,000
263.82 P.W.T.F. Loan#00691043 594.35.63 7/5/2000 6/30/2020 1.0% 1,890,000
252.11 2001 W/S Revenue Bonds 594.35.63 9/1/2001 9/1/2016 3.5-4.85% 995,000
252.11 2002 W/S Revenue Bonds 594.35.63 10/1/2002 12/1/2022 2.0-4.7% 5,945,000
252.11 2005 W/S Revenue Bonds 594.35.63 12/5/2005 12/5/2025 3.5-4.25% 4,400,000
252.11 2007 W/S Revenue Bonds 594.35.63 7/2/2007 9/1/2022 4.25-4.75% 845,000
252.11 2009 W/S Revenue Bonds 594.35.63 4/17/2009 5/1/2029 3-4.625% 10,045,000
TOTAL UTILITY DEBT $63,764,959
TOTAL LONG-TERM DEBT $81,110,030
128
City o f Pasco. Washington 20oA Comprehensive .annual rinanciaCleport
SCHEDULE 9-LONG-TERM DEBT-G.O.AND REVENUE (continued)
BEGINNING AMOUNT ENDING
UNMATURED AMOUNT DUE THIS UNMATURED
DESCRIPTION DEBT ISSUED PERIOD DEBT
G.O. DEBT
Councilmanic G.O. Bonds
2001 L.T.G.O. Bond $5,360,000 $0 $345,000 $5,015,000
2002 LTGO&Refunding Bond 2,765,000 0 210,000 2,555,000
Total Councilmanic G.O. Bonds $8,125,000 $0 $555,000 $7,570,000
Voted G.O. Bonds
1999 G.O.B Library $1,100,000 0 $100,000 $1,000,000
2002 UTGO Refunding Bond 1,690,000 0 315,000 1,375,000
Total Voted G. O. Bonds $2,790,000 0 $415,000 $2,375,000
TOTAL G.O. DEBT $10,915,000 0 $970,000 $9,945,000
Other Debt
TRAC $527,587 0 $76,552 $451,035
Port of Pasco Airport Fire Bldg 95,230 0 10,970 84,260
State L.O.C.A.L. Loan 28,477 0 28,477 0
State L.O.C.A.L. Loan 176,921 0 17,510 159,411
State L.O.C.A.L. Loan 200,000 0 23,889 176,111
Total Other Debt $1,028,215 0 $157,398 $870,817
UTILITY DEBT $15,607,905
PWTF Loan#89036 $61,563 0 $61,563 $0
State Revolving Loan Fund 15,607,905 0 1,183,959 14,423,946
PWTF Loan#95025 301,080 0 43,011 258,069
PWTF Loan#95026 751,628 0 107,375 644,253
1998 W/S Revenue Bonds 1,420,000 0 105,000 1,315,000
1998 W/S Refunding Bonds 4,120,000 0 615,000 3,505,000
1998 W/S Revenue Bonds 315,000 0 100,000 215,000
1999 W/S Revenue Bonds 535,000 0 50,000 485,000
P.W.T.F. Loan#00691043 1,333,686 0 111,140 1,222,546
2001 W/S Revenue Bonds 610,000 0 65,000 545,000
2002 W/S Revenue Bonds 4,550,000 0 255,000 4,295,000
2005 W/S Revenue Bonds 3,900,000 0 165,000 3,735,000
2007 W/S Revenue Bonds 745,000 0 50,000 695,000
2009 W/S Revenue Bonds 10,045,000 0 0 10,045,000
TOTAL UTILITY DEBT 44,295,862 0 $2,912,048 $41,383,814
TOTAL LONG-TERM DEBT $56,239,077 $0 $4,039,446 $52,199,631
129
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
MCAG NO. 0292
SCHEDULE 10- LIMITATION OF INDEBTEDNESS
For the Year Ended December 31, 2009
Property Valuation for 2009 Taxes* $2,934,792,310
GENERALPURPOSES
Limit of 2.5% of Assessed Value
Councilmanic:
Capacity (1.5% of Assessed value) $44,021,885
Less:
G.O. Bonds Outstanding $7,570,000
State LOCAL Loans 335,522
T.R.A.C. Obligation 451,035
Airport Fire Station 84,260
Compensated Absences 1,685,672
Outstanding Debt $10,126,489
Remaining debt capacity without a vote $33,895,396
Voter-Approved:
Capacity (1.0% of Assessed Value) $29,347,923
Less:
G.O. Bonds Outstanding $2,375,000
Outstanding Debt 2,375,000
Remaining debt capacity with a vote $26,972,923
Remaining Capacity for General Purposes $60,868,319
UTILITY PURPOSES
Voter-Approved:
Capacity (2.5% of Assessed Value) $73,369,808
Remaining debt capacity-Utility Purpose, voted $73,369,808
OPEN SPACE AND PARK FACILITIES
Voter-Approved:
Capacity (2.5% of Assessed Value) $73,369,808
Remaining debt capacity -Open Space Park & Capital Facilites, voted $73,369,808
TOTAL AVAILABLE DEBT CAPACITY $207,607,935
*From Franklin County Tax Collection Book
130
City o f Pasco. Washington 20oA Comprehensive .annual rtnanciaC eport
MCAG NO. 0292
SCHEDULE 12 -OPERATION OF INVESTMENTS -ALL FUNDS
For The Year Ended December 31, 2009
INVESTMENT INVESTMENTS INVESTMENT
FUND FUND BALANCE (AT COSTS) BALANCE
NO. DESCRIPTION 1/1/2013 ACQUIRED LIQUIDATED 12/31/2013
620 Fire Pension $ 3,113,362 $ 447,740 $ 40,323 $ 3,520,779
650 Surplus Cash 32,738,059 20,597,991 15,065,674 38,270,376
TOTAL $ 35,851,421 $ 21,045,731 $ 15,105,997 $ 41,791,155
131
City of Pasco, Washington 2009 Comprehensive .annual TinanciaCPeport
MCAG NO 0292
SCHEDULE 13 - CASH AND INVESTMENTS -
SCHEDULE 14 - SHORT-TERM INTEREST-BEARING DEBT-
SCHEDULE 15 - CONTRIBUTIONS FOR EMPLOYEE BENEFITS -
For The Year Ended December 31, 2009
ALL MONEY
HELD FOR
REDEMPTION UNEXPENDED
OF LONG-TERM PROCEEDS OF ALL OTHER
DEBT BOND ISSUES MONIES
CASH AND INVESTMENTS
Cash and Deposits $ 1,059,761 $ 0 $ 9,322,764
Federal Securities 0 0 0
Federal Agency Securities 0 0 30,498,791
Other Securities 0 0 2,365,743
$ 1,059,761 $ 0 $ 42,187,298
SHORT-TERM INTEREST-BEARING DEBT
Balance as of Beginning of Year $ 0
Balance as of End of Year 0
CONTRIBUTIONS FOR EMPLOYEE BENEFITS
Retirement Programs
To Federal Social Security System $ 905,245
To State Administered Employee
Retirement System 1,117,679
To Locally Administered Employee
Retirement System 0
For Commerical Annuity Plans 0
Direct Pension Payments 92,145
TOTAL ALL RETIREMENT PROGRAMS $ 2,115,069
Insurance Programs
For Health, Hospital, Dental
and Disability Insurance - Self-Insured $ 2,812,481
For Other Vision Insurance 11,963
For Life Insurance 14,937
For Workmen's Compensation Insurance 367,308
For Unemployment Compensation - Self-Insured 69,573
TOTAL ALL INSURANCE PROGRAMS $ 3,276,262
132
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
MCAG NO.0292
SCHEDULE 16-SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended December 31,2009
Grantor/ Federal Other Pass-
Pass-Through Grantor CFDA Identification Through Direct
Program Title Number Number Awards Awards Total
US Department of Health&Human Services
Pass through Yakima County,Office of Aging&Long Term
Care
Supportive Services&Senior Centers-Foot Care 93.044 96-009-391 (PA) $ 18,000 $ 18,000
Supportive Services&Senior Centers-Health Screening 93.044 11,000 11,000
Total US Dept of Health&Human Services 29,000 - 29,000
US Department of Federal Emergency Management
Agency
Assistance to Firefighters-generator, helmets,boots&struch 97.044 EMW-2008-FO-03704 59,688 59,688
Total US Department of FEMA 59,688 59,688
US Department of Defense
Economic Adjustment Assistance -
Wagenaar ARC Base Closure Plan 12.607 CL0684-08-02 19,045 19,045
Total US Department of Defense 19,045 19,045
US Department of Housing&Urban Development
Community Development Block Grant/Entitlement Grant 14.218 B-09-MC-53-009 612,604 612,604
Community Development Block Grant/Recovery Act Entitleme 14.253 B-09-MC-53-009 10,000 10,000
Community Development Block Grant Program Income 14.218 10,667 10,667
Pass Through Washington Department of Commerce
Neighborhood Stabilization Plan 14.239 08-176401-014 1,693 1,693
Total US Department of Housing&Urban Development 1,693 633,271 634,964
US Department of Justice
Edward Byrne Memorial Justice Assistance Grant Program 16.804 2009-DJ-BX 1308 9,424 9,424
Edward Byrne Domestic Violence Services Unit Project 16.804 2007-DJ-BX 0012 - -
Edward Byrne Memorial Formula Grant Program 16.804 2009-SB-B9-2881 89,916 89,916
Pass Through from METRO Drug Task Force
Edward Byrne Memorial Formula Grant Program(Narcotics Ts 16.803&16.738 M09-34721-012 62,706 - 62,706
Total US Dept of Justice 62,706 99,340 162,046
US Department of Transportation
Pass through Washington Traffic Safety Commission
-Alcohol Traffic Safety&Drunk Driving Prevention 20.601 35,409 35,409
Benton Franklin County Traffic Safety Task Force 20.601 6,232 6,232
Purchase Computer Equipment 20.601 2,006 2,006
Highway Planning&Construction
182/Broadmoor Improvement(2-08-3-03) 20.205 STPUS-3513-(002) 259,017 259,017
2008 Street Overlays(3-08-3-01) 20.205 STPUS-0960-(004) 563,763 563,763
Total US Dept.of Transportation 866,427 - 866,427
TOTAL FEDERAL AWARDS EXPENDED: $ 959,826 $ 811,344 $ 1,771,170
133
City o f Pasco. Washington 2000 Comprehensive .annual Financial Report
MCAG NO.0292
CITY OF PASCO
SCHEDULE 16-SCHEDULE OF STATE AND LOCAL FINANCIAL ASSISTANCE
For the Year Ended December 31,2009
Grantor/ Federal Other Pass-
Pass-Through Grantor CFDA Identification Through Direct
Program Title Number Number Awards Awards Total
Interlocal Grants
Sex Offender- (Franklin County) Interlocal Agency AgreemE 2,421 2,421
GREAT-Gang Related Education and Training(City of Kennewick) Interlocal Agency AgreemE 21,116 21,116
Total Interlocal 23,537 - 23,537
Washington State Transportation Improvement Board
Argent Rd&Road 84 (2-09-3-02) 20.205 P-E-17-174(P03)-1 200,000 200,000
Total TIB - 200,000 200,000
Washington State Dept of Community Trade and
Economic Development
Baseball Stadium-Patio Improvements project#609602 52,550 52,550
Baseball Stadium-Scoreboard Improvements project#609603 139,820 139,820
Stop Grant-Violence Against Women 16.588 2008-WF-AX0008 31,786 31,786
Total CTED 224,156 - 224,156
Washington State Administration of Courts
Interpreter Grant(Municipal Court) IAA10224 11,354 11,354
Total Administration of Courts - 11,354 11,354
Washington State Department of Ecology
Storm water Grant-Phase 2 G0700044 16,461 16,461
0 16,461 16,461
Pasco School District
Anti Harassment Bullying Program Reimbursement Interlocal Agency Agreement 21,408 21,408
Pasco School District 21,408 0 21,408
Department of Health&Human Services
EMS Prehospital Participation Grant FY09-11M02 1,726 1,726
1,726 0 1,726
TOTAL STATE AND LOCAL ASSISTANCE: $ 270,827 $ 27,815 $ 298,642
134
City of Pasco, `Washington 200.9 Comprehensive AnnuafTinanciafReport
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (SCHEDULE 16)
NOTE 1 —BASIS OF ACCOUNTING
The Schedule of Financial Assistance is prepared on the same basis of accounting as the City's financial
statements. The City uses a modified accrual basis of accounting in all of the related Governmental
funds and full accrual in the Proprietary funds.
NOTE 2—PROGRAM COSTS
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs. Entire program costs, including the City's portion, may be more than shown.
NOTE 3 —REVOLVING LOAN—PROGRAM INCOME
The City has a revolving loan program for low-income housing. Under this federal pass-through grant,
repayments to the City are considered program revenues (income) and loans of such funds to eligible
recipients are considered expenditures. No loan funds were disbursed in 2009 for the rehab loan
program. The amount of principal and interest received in loan repayments for the year was $10,667.
The City also participates in the HUD HOME Program for low-income individuals, which is
administered through the City of Richland. Under this federal pass-through grant, the sale of low-
income homes by the City is considered program revenues (income) and costs of building homes and
purchase of properties are considered expenditures. This program is audited through the City of
Richland.
135
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
MCAG NO. 0292
SCHEDULE 19- LABOR RELATIONS CONSULTANTS
For the Year Ended December 31, 2009
Has your government engaged labor relations consultants? X Yes No
If yes, please provide the following information for each consultant(s):
Consultant#1 Consultant#2
The Wesley Group Summit Law
Kevin Wesley, Consultant Otto Klein, Consultant
P.O. Box 7164, Kennewick, WA 99336 315 Fifth Avenue South Suite 1000, Seattle, WA 98104
Amount Paid During Fiscal Year: $14,120.87 Amount Paid During Fiscal Year: $4,988.50
Terms and Conditions Terms and Conditions
Rates(E.G., Hourly, Etc.): $100 per hour Rates(E.G., Hourly, Etc.): $280 per hour
Maximum Compensation Allowed: N/A Maximum Compensation Allowed: N/A
Duration of Services: Various throughout year Duration of Services: Various throughout year
Maximum Compensation Allowed: N/A Maximum Compensation Allowed: N/A
Services Provided: Union Bargaining Assistance Services Provided: Union Bargaining Assistance
Certified Correct this 26th day of May, 2010,to the best of my knowledge and belief:
Signature
HR Manager
136
City of Pasco, `Washington 2009 Comprehensive Annual Tinancial Report
STATISTICAL SECTION
This statistical section presents detailed information, typically in ten-year trends, which will assist
users in utilizing the basic financial statements, notes to basic financial statements, and required
supplementary information to assess the economical condition of the City of Pasco.
137
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138
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
CITY OF PASCO
NET ASSETS BY COMPONENT
LAST FIVE FISCAL YEARS
TABLE 1
(accrual basis of accounting)
Fiscal Year
2009 2008 2007 2006 2005
Governmental Activities
Invested in Capital Assets,Net of Related Debt $ 97,601,730 $ 85,293,636 $ 74,058,193 $ 59,050,242 $ 47,803,957
Restricted 3,551,107 4,004,503 3,941,492 5,737,749 5,733,980
Unrestricted 24,110,652 23,750,360 22,709,790 15,943,732 15,365,596
Total Governmental activities net assets $125,263,489 $113,048,499 $100,709,475 $80,731,723 $68,903,533
Business-Type Activities
Invested in capital assets,net of related debt 1,136,994,732 109,736,474 97,635,365 93,667,005 69,646,174
Restricted 777,045 747,042 841,693 1,798,464 1,320,801
Unrestricted 12,617,916 5,711,501 12,610,713 6,251,986 23,041,136
Total Business-Type Activities Net Assets $ 1,150,389,693 $ 116,195,017 $ 111,087,771 $ 101,717,455 $ 94,008,111
Primary Government
Invested in capital assets,net of related debt 211,596,462 195,030,110 171,693,558 152,717,247 117,450,131
Restricted 4,328,152 4,751,545 4,783,185 7,536,213 7,054,781
Unrestricted 36,728,568 29,461,861 35,320,503 22,195,718 38,406,732
Total Primary Government Net Assets $ 252,653,182 $ 229,243,516 $ 211,797,246 $ 182,449,178 $ 162,911,644
139
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
CITY OF PASCO
CHANGES IN NET ASSETS
LAST FIVE FISCAL YEARS
TABLE 2
(accrual basis of accounting)
Fiscal Year
2009 2008 2007 2006 2005
Expenses
Governmental activities:
General Government $ 10,749,072 $ 9,595,673 $ 8,899,366 $ 8,146,549 $ 7,494,952
Judicial 922,376 813,800 750,294 741,933 620,544
Public Safety 18,742,770 18,295,546 17,213,554 16,592,068 14,003,815
Physical Environment 3,050,013 3,531,581 2,136,977 2,319,370 1,689,606
Transportation 5,137,163 4,330,917 4,242,310 1,299,239 5,944,289
Health and Human Services 58,517 56,652 39,740 44,242 45,044
Economic Environment 1,384,931 1,198,685 1,116,613 1,647,209 933,784
Culture and Recreation 6,211,790 5,982,584 5,713,083 4,872,473 4,892,990
Interest on Long Term Debt 413,393 587,421 639,570 681,825 714,225
Total governmental activities expenses 46,670,025 44,392,859 40,751,507 36,344,908 36,339,249
Business-type activities
Water 6,029,123 5,990,439 5,179,548 5,050,598 3,949,704
Sewer 6,825,858 6,316,067 6,274,624 5,724,267 5,877,674
Water Process Reuse 1,558,374 1,569,048 1,503,346 1,558,076 1,465,822
Storm Water 735,092 607,018 595,276 518,408 377,349
Irrigation 1,009,032 1,014,564 936,053 748,126 544,310
Internal Service 651,442 484,570
Total business-type activates expenses 16,808,921 15,981,706 14,488,847 13,599,475 12,214,859
Total primary government expenses 29,861,104 60,374,565 55,240,354 49,944,383 48,554,108
Program Revenues
Governmental Activities:
Charges for Services 15,011,325 12,185,483 12,640,309 11,362,442 10,093,760
Operating grants and contributions 504,366 376,490 1,073,643 1,044,618 1,198,615
Capital grants and contributions 800,346 14,752,821 3,438,257 9,244,394 6,547,280
Total governmental activities program revenues 16,316,037 27,314,794 17,152,209 21,651,454 17,839,655
Business-type activities
Charges for Services 18,721,343 17,232,355 14,306,745 14,185,692 13,111,651
Operating grants and contributions - - - - -
Capital grants and contributions 3,249,969 3,253,558 6,377,351 3,625,332 14,202,830
Total business-type activites program revenues 21,971,312 20,485,913 20,684,096 17,811,024 27,314,481
Total primary government program revenues $ 38,287,349 $ 47,800,707 $ 37,836,305 $ 39,462,478 $ 45,154,136
140
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
CITY OF PASCO
CHANGES IN NET ASSETS
LAST FIVE FISCAL YEARS
TABLE 2-continue
(accrual basis of accounting)
Fiscal Year
2009 2008 2007 2006 2005
Net
Governmental activities $ (30,353,988) $ (17,078,065) $ (23,599,298) $ (14,693,454) $ (18,499,594)
Business-type activities 5,162,391 4,504,207 6,195,249 4,211,549 15,099,622
(25,191,597) (12,573,858) (17,404,049) (10,481,905) (3,399,972)
Total primary government net(expense)/revenues
General Revenues and Other Changes in Net Assets
Governmental Activities:
Taxes
Property Taxes 5,743,422 5,511,426 5,215,110 4,748,822 4,323,410
Property Taxes levied for Debt Service 532,790 544,468 559,304 554,260 559,661
Sales&Use Taxes 8,000,261 8,843,067 8,645,939 8,225,795 7,857,149
Occupational Utility Taxes 8,924,436 8,688,698 7,842,446 7,560,655 7,100,471
Other Taxes 4,686,006 4,654,617 3,729,218 3,305,358 3,396,093
Investment Earnings 734,641 986,532 1,070,349 849,559 708,699
Miscellaneous Revenues - - 1,822,224 1,562,070 2,656,353
Transfers 546,238 612,944 846,418 113,478 (583,811)
Total governmental activities 29,167,794 29,841,752 29,731,008 26,919,997 26,018,025
Business-type activities
Investment Earnings 398,767 425,024 639,120 622,290 534,273
Miscellaneous Revenues - - 2,708,796 3,136,171 3,586,435
Proceeds from Issuance of Long-Term Debt 835,650 - -
Transfers (622,452) (612,944) (865,944) (183,227) (57,871)
Total business-type activities (223,685) (187,920) 3,317,622 3,575,234 4,062,837
Total primary government 28,944,109 29,653,832 33,048,630 30,495,231 30,080,862
Changes in Net Assets
Governmental activities (1,186,194) 12,763,687 6,131,710 12,226,543 7,518,431
Business-type activities 4,938,706 4,316,287 9,512,871 7,786,783 19,162,459
Total primary government $ 3,752,512 $ 17,079,974 $ 15,644,581 $ 20,013,326 $ 26,680,890
141
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
CITY OF PASCO
FUND BALANCES, GOVERNMENTAL FUNDS
LAST FIVE FISCAL YEARS
TABLE 3
(modified accrual basis of accounting)
FISCAL YEAR
2009 2008 2007 2006 2005
General Fund
Reserved $ 1,897,965 $ 691,965 $ 1,516,965 $ 1,890,568 $ 58,565
Unreserved 7,916,888 10,270,123 9,087,738 6,861,201 9,109,055
Total general fund 9,814,853 10,962,088 10,604,703 8,751,769 9,167,620
All Other Governmental Funds
Reserved 3,280,352 3,890,439 3,910,427 5,728,634 5,727,765
Unreserved, reported in:
Special revenue funds 9,129,752 9,871,589 8,259,914 6,115,159 4,912,230
Debt service funds 1,307,212 921,004 773,275 670,640 281,474
Capital projects funds (922,192) (1,749,795) (223,724) (1,158,341) (439,683)
Total all other governmental funds 12,795,124 12,933,237 12,719,892 11,356,092 10,481,786
Total all governmental funds $ 22,609,977 $ 23,895,325 $ 23,324,595 $ 20,107,861 $ 19,649,406
142
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
CITY OF PASCO
CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS
LAST FIVE FISCAL YEARS
TABLE 4
(modified accrual basis of accounting)
2009 2008 2007 2006 2005
Revenue
Taxes $ 25,340,128 $ 25,716,456 $ 24,516,433 $ 23,361,504 $ 22,195,616
Licenses & Permits 1,859,786 1,615,735 1,923,553 2,116,234 2,338,294
Intergovernmental Revenue 4,040,771 5,293,226 4,719,252 10,802,165 3,494,011
Charges for Services 5,285,447 4,770,921 4,737,984 4,388,138 4,225,579
Fines & Forfeitures 1,062,837 1,016,739 1,054,334 828,758 746,043
Investment Income 616,863 858,135 960,833 781,406 661,045
Miscellaneous Revenue 2,346,099 1,452,322 1,772,971 2,021,943 2,413,914
Total Revenues 40,551,931 40,723,534 39,685,360 44,300,148 36,074,502
Expenditures
General Government 4,904,210 4,526,556 4,251,117 4,284,489 4,195,820
Judicial 922,376 813,800 750,294 741,933 620,544
Public Safety 18,396,568 17,711,319 16,819,676 15,592,637 13,587,826
Physical Environment 2,066,373 2,077,596 1,825,137 1,608,581 1,443,870
Transportation 1,566,408 1,536,157 1,537,483 1,132,745 1,103,984
Health and Human Services 58,517 56,652 39,740 44,242 45,044
Economic Environment 944,035 671,118 745,388 680,863 647,534
Culture and Recreation 4,669,741 4,279,338 4,117,179 3,827,080 3,464,143
Capital Outlay 7,718,425 7,345,013 5,737,339 14,187,562 8,221,883
Debt Service
Principal 1,354,284 1,108,336 1,162,174 1,120,148 1,105,858
Interest 413,393 587,421 639,570 681,825 714,225
Total Expenditures 43,014,329 40,713,306 37,625,097 43,902,105 35,150,731
Excess of revenues over
(under)expenditures (2,462,397) 10,228 2,060,263 398,043 923,771
Other Financing Sources
Disposition of Capital Assets - 7,076 157,018 - 40,825
Proceeds of General L-T Debt - - - - -
Insurance Recoveries/other revenues 251,492 75 (103) 639 30,271
Operating Tranfers-(In) 5,431,688 5,093,754 4,984,301 5,864,429 5,321,850
Operating Tranfers-(Out) (4,527,133) (4,542,032) (4,246,752) (5,710,114) (6,068,298)
Total Other Financing Sources (Uses) 1,156,047 558,873 894,464 154,954 (675,352)
Net change in fund balances $ (1,306,350) $ 569,101 $ 2,954,727 $ 552,997 $ 248,419
Debt services as percentage
of noncapital expenditures 5.01% 5.08% 5.65% 6.06% 6.76%
143
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
CITY OF PASCO
ASSESSED AND ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
TABLE 5
Tota I
TOTAL Direct
Residential Commercial Other ASSESSED Tax
YEAR Property Property Property VALUATION Rate
2000 $ 816,593,971 $ 96,120,203 $ 38,900,998 $ 951,615,172 3.7332
2001 $ 876,656,716 $ 105,259,330 $ 49,983,958 $ 1,031,900,004 3.6360
2002 $ 968,149,205 $ 109,023,302 $ 49,983,958 $ 1,127,156,465 3.6625
2003 $ 1,185,853,800 $ 64,831,531 $ 53,394,900 $ 1,304,080,231 3.1982
2004 $ 1,608,203,667 $ 116,704,391 $ 54,917,281 $ 1,779,825,339 3.1524
2005 $ 1,838,147,975 $ 81,762,754 $ 52,699,742 $ 1,972,610,471 2.8047
2006 $ 1,685,326,737 $ 85,759,899 $ 54,276,830 $ 1,825,363,466 2.7414
2007 $ 2,309,543,400 $ 113,973,204 $ 59,650,331 $ 2,483,166,935 2.5427
2008 $ 1,942,831,100 $ 473,136,000 $ 445,372,958 $ 2,861,340,058 2.4887
2009 $ 1,525,398,600 $ 869,876,500 $ 539,517,210 $ 2,934,792,310 2.2347
SOURCE: FRANKLIN COUNTY ASSESSORS OFFICE
144
City o f Pasco, -Washington zooA Comprehensive .annual E-tnancial Report
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146
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
TOP 10 PROPERTY TAX PAYERS
TABLE 8
Assessed Value Percent of City's
for 2009 Tax Total; 2009 Tax
Taxpayer Collection Collection
Pasco Processing LLC $ 31,315,500 1.05%
Twin City Foods, Inc. $ 26,237,641 0.88%
The Crossing at Chapel Hill $ 16,085,000 0.54%
Broadmoor LLC $ 15,377,100 0.52%
Reser's Fine Foods, Inc $ 14,400,000 0.48%
Wal-Mart, Inc $ 13,745,200 0.46%
BNSF Railway Co. $ 13,123,113 0.44%
ConAgra Foods Lamb-Weston, Inc. $ 11,754,900 0.40%
Old Standard Life Insurance $ 11,234,100 0.38%
Bybee Foods LLC $ 10,927,500 0.37%
5.52%
Source: Franklin County Assessor's Office
CITY OF PASCO
TOP INDUSTRIES THAT GENERATE SALES TAX
LAST THREE FISCAL YEARS
TABLE 9
2009 2008 2007
Sales %of Sales %of Sales %of
Tax Total Tax Total Tax Total
Industries Paid Rank Sales Tax Paid Rank Sales Tax Paid Rank Sales Tax
Motor Vehicle And Parts Dealers $ 938,165 1 14.19% $1,249,062 1 15.47% $1,499,029 1 18.98%
Wholesale Trade, Durable Goods 637,759 2 9.64% 802,995 2 9.95% 919,467 2 11.64%
Construction Of Buildings 509,346 3 7.70% 779,667 3 9.66% 394,555 6 4.99%
General Merchandise Stores 471,742 4 7.13% 481,991 5 5.97% 455,016 4 5.76%
Food Services, Drinking Places 391,852 5 5.92% 410,259 6 5.08% 379,450 7 4.80%
Specialty Trade Contractors 379,908 6 5.74% 515,638 4 6.39% 506,250 3 6.41%
Miscellaneous Store Retailers 340,609 7 5.15% 409,489 7 5.07% 466,361 5 5.90%
Repair&Maintenance 322,954 8 4.88% 333,228 9 4.13% - 0.00%
Building Material And Garden 296,321 9 4.48% 353,684 8 4.38% 358,462 9 4.54%
Rental&Leasing Services 242,004 10 3.66% - 11 0.00% 374,108 8 4.74%
Rail Transportation - 0.00% 300,253 10 3.72% - 0.00%
Telecommunications - 0.00% - 12 0.00% 218,985 10 2.77%
Other 2,083,078 31.50% 2,436,529 30.18% 2,327,977 29.47%
Total Taxes&Percentages $6,613,738 $8,072,795 $7,899,660 70.53%
Source:Washington State Department of Revenue
147
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
CITY OF PASCO
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST SEVEN FISCAL YEARS
TABLE 10
(dollars in thousands, except per capita)
Governmental Activities Business-type Activities
General Water/ Other Total
Obligation Special Sewer Loans Primary Per
Year Bonds Assessments Bonds Payable Government Capita (a)
2003 $ 15,727 $ 2,080 $ 17,614 $ 24,328 $ 59,749 $1,590
2004 $ 14,500 $ 1,501 $ 15,940 $ 23,694 $ 55,635 1,362
2005 $ 13,650 $ 2,329 $ 19,300 $ 22,340 $ 57,619 1,304
2006 $ 12,955 $ 3,288 $ 18,045 $ 20,950 $ 55,238 1,160
2007 $ 11,850 $ 2,853 $ 17,620 $ 19,523 $ 51,846 1,026
2008 $ 10,915 $ 120 $ 16,245 $ 18,056 $ 45,336 867
2009 $ 9,945 $ 120 $ 16,549 $ 24,710 $ 51,324 942
Note: Details regarding the City's outstanding debt can be found in the notes and schedules to the financial
statements.
(a) See Table for population data. This ratio was calculated using population for the applicable fiscal year.
148
City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
CITY OF PASCO, WASHINGTON
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
AND BONDED DEBT PER CAPITA
Last Ten Fiscal Years
Table 11
Ratio of
Bonded
General Total Debt to Bonded
Assessed Obligation Bonded Assessed Debt Per
Year Population(1) Value (2) Bonds Debt Value Capita
2000 32,066 951,680,952 14,516,707 14,516,707 1.53% 452.71
2001 33,010 1,031,900,004 16,894,071 16,894,071 1.64% 511.79
2002 36,700 1,127,156,465 19,147,134 19,147,134 1.70% 521.72
2003 37,580 1,304,080,231 15,727,209 15,727,209 1.21% 418.50
2004 40,840 1,779,825,339 14,500,000 14,500,000 0.81% 355.04
2005 44,190 1,987,640,071 13,650,000 13,650,000 0.69% 308.89
2006 47,610 2,313,853,466 12,955,000 12,955,000 0.56% 272.11
2007 50,510 2,483,166,932 11,850,000 11,850,000 0.48% 234.61
2008 52,290 2,881,340,058 10,915,000 10,915,000 0.38% 208.74
2009 54,490 2,934,792,310 9,945,000 9,945,000 0.34% 182.51
Note: Details regarding the City's outstanding debt can be found in the notes and schedules to the financial statements.
statements.
Sources:(1) State of Washington Office of Financial Management
(2) Franklin County Assesor's Office
149
City of Pasco, Washington 20oA Comprehensive .annual Financial eport
CITY OF PASCO, WASHINGTON
COMPUTATION OF LEGAL DEBT MARGIN
For the Year Ended December 31, 2009
Table 12
Property Valuation for 2009 Taxes* $ 2,934,792,310
GENERAL PURPOSES
Limit of 2.5% of Assessed Value 73,369,808
Councilmanic:
Capacity (1.5% of Assessed value) 44,021,885
Less:
G.O. Bonds Outstanding $ 7,570,000
T.R.A.C. Obligation 451,035
State LOCAL Loans 335,522
Airport Fire Station 84,260
Compensated Absences 1,685,672
Councilmanic Outstanding 10,126,489
Available Concilmanic Capacity Excluding Capital Leases 33,895,396
Voter-Approved:
Capacity (1.0% of Assessed Value) 29,347,923
Less:
G.O. Bonds Outstanding 2,375,000
Available Voter-Approved Capacity 2,375,000
Remaining Capacity for General Purposes $36,270,396
UTILITY PURPOSES
Voter-Approved:
Capacity (2.5% of Assessed Value) 73,369,808
Available Utility Capacity $73,369,808
OPEN SPACE AND PARK FACILITIES
Voter-Approved:
Capacity (2.5% of Assessed Value) $73,369,808
Available Open Space and Park Facilities Capacity $73,369,808
TOTAL AVAILABLE DEBT CAPACITY $ 183,010,012
Franklin County Assessors Office-(Steve Marks)
Debt Schedule Staterrent
150
City o f Pasco. Washington 20oA Comprehensive .annual Financial eport
CITY OF PASCO, WASHINGTON
PLEDGED-REVENUE COVERAGE
Last Ten Fiscal Years
Table 13
WATER/SEWER BONDS
Operating
Expenses
Gross Less Non-Cash Net Available Total Bond
Operating Expenses and for Debt Annual Coverage
Year Revenue City Taxes Service Principal Interest Debt Service Ratio
2000 $ 8,470,241 $ 3,699,707 $4,770,534 $ 516,392 $ 605,522 $1,121,914 4.25%
2001 $ 9,039,464 $ 4,073,011 $4,966,453 $ 542,296 $ 586,394 $ 1,128,690 4.40%
2002 $ 9,873,372 $ 4,468,701 $5,404,671 $ 613,200 $ 592,923 $ 1,206,123 4.48%
2003 $ 10,969,402 $ 4,997,986 $5,971,416 $ 844,299 $ 826,531 $ 1,670,830 3.57%
2004 $ 11,761,145 $ 5,302,265 $6,458,880 $ 904,248 $ 760,181 $ 1,664,429 3.88%
2005 $ 12,758,053 $ 5,759,032 $6,999,021 $1,040,000 $ 718,232 $ 1,758,232 3.98%
2006 $ 13,741,481 $ 6,165,588 $7,575,893 $1,255,020 $ 805,697 $2,060,717 3.68%
2007 $ 13,927,322 $ 6,809,089 $7,118,233 $1,271,925 $ 802,600 $2,074,525 3.43%
2008 $ 14,484,702 $ 7,366,720 $7,117,982 $1,550,000 $ 750,841 $2,300,841 3.09%
2009 $ 15,083,562 $ 7,784,832 $7,298,730 $1,405,000 $ 974,487 $2,379,487 3.07%
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City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
CITY OF PASCO, WASHINGTON
SPECIAL ASSESSMENTS COLLECTIONS
Last 10 Fiscal Years
Table 14
Assessments Ratio of
Outstanding Additions Collected Collections Outstanding
Assessments and Total During to Total Assessments
Year January 1, Adjustments Assessments Year Assessments December 31,
2000 6,131,801 1,041,652 7,173,453 1,063,665 14.83% 6,109,788
2001 6,109,788 (507,141) 5,602,647 1,030,404 18.39% 4,572,243
2002 4,572,243 (81,609) 4,490,634 1,637,272 36.46% 2,853,362
2003 2,853,362 962 2,854,324 774,096 27.12% 2,080,228
2004 2,080,228 92,423 2,172,651 671,723 30.92% 1,500,928
2005 1,500,928 1,523,589 3,024,517 695,074 22.98% 2,329,443
2006 2,329,443 1,291,526 3,620,969 333,447 9.21% 3,287,522
2007 3,287,522 (9,310) 3,278,212 424,814 12.96% 2,853,398
2008 2,853,398 2,163,043 5,016,441 360,464 7.19% 4,655,977
2009 4,655,977 (4,769) 4,651,208 322,862 6.94% 4,328,346
Source: Franklin County Tax Rolls
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City o f Pasco. Washington 20oA Comprehensive .annual Financial Report
CITY OF PASCO
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
TABLE 15
MEDIAN
PER CAPITA AVE EARNINGS HOUSEHOLD MEDIAN SCHOOL UNEMPLOYMENT
FISCAL POPULATION INCOME PER JOB INCOME AGE ENROLLMENT RATE
YEAR (1) (2) (2) (6) (3) (4) (5)
2000 32,066 $ 19,259 $ 30,473 $ 40,375 28.10 8,850 7.2%
2001 33,010 $ 20,625 $ 30,598 $ 41,154 28.00 9,227 8.0%
2002 34,630 $ 20,760 $ 31,949 $ 40,900 28.19 9,785 8.5%
2003 37,580 $ 21,028 $ 33,865 $ 40,417 28.47 10,353 8.8%
2004 40,840 $ 20,971 $ 35,350 $ 40,511 27.40 11,038 7.5%
2005 44,190 $ 21,048 $ 36,134 $ 41,176 27.00 11,828 7.0%
2006 47,610 $ 21,317 $ 36,895 $ 39,831 27.00 12,516 7.0%
2007 50,510 $ 20,573 Not Available Not Available 28.66 12,610 6.4%
2008 52,290 $ 22,955 $ 34,379 $ 48,847 28.20 13,701 10.3%
2009 54,490 Not Available Not Available $ 37,818 27.40 14,437 8.0%
SOURCE:
(1)State of Washington Office of Financial Management
(2)Washington State University Northwest Income Indicators Project Report-Information is for Franklin County
(3) Tri-Cities Industrial Development Council (TRIDEC)
(4)Pasco School District (October Enrollment)
(5)State of Washington Employment Security Department (Franklin County Annual Average)
(6)Office of Financial Management Washington State Meadian Household Income Estimates by County
153
City o f Pasco. Washington 20oA Comprehensive .annual rinanciaCleport
CITY OF PASCO
NEW CONSTRUCTION, BANK DEPOSITS AND PROPERTY VALUE
LAST TEN FISCAL YEARS
TABLE 16
NEW CONSTRUCTION (1)
BUILDING
FISCAL PERMITS SINGLE MULTIPLE
YEAR ISSUED DWELLING DWELLING OTHER TOTAL
2000 1,586 $ 28,072,891 $ - $ 20,493,167 $ 48,566,058
2001 1,559 $ 49,459,099 $ - $ 26,066,003 $ 75,525,102
2002 2,116 $ 97,082,539 $ 181,355 $ 16,092,621 $ 113,356,515
2003 2,072 $ 116,251,761 $ 353,675 $ 55,250,442 $ 171,855,878
2004 2,331 $ 149,827,797 $ 47,338 $ 98,727,552 $ 248,602,687
2005 2,445 $ 169,290,211 $ - $ 57,002,306 $ 226,292,517
2006 2,246 $ 137,860,619 $ - $ 64,422,671 $ 202,283,290
2007 1,886 $ 104,370,010 $ 19,517 $ 83,391,801 $ 187,781,328
2008 1,677 $ 81,134,930 $ - $ 41,824,134 $ 122,959,064
2009 1,849 $ 95,998,253 $ - $ 66,096,087 $ 162,094,340
BANK DEPOSITS (IN $1,000) (2) ASSESSED TAXABLE PROPERTY
FOR THE FISCAL YEAR ENDED JUNE 30 VALUATION (IN $1,000) (3)
2000 $ 253,363 2000 $ 951,615
2001 $ 262,943 2001 $ 1,031,900
2002 $ 264,776 2002 $ 1,127,156
2003 $ 280,632 2003 $ 1,304,080
2004 $ 294,457 2004 $ 1,437,070
2005 $ 298,411 2005 $ 1,779,825
2006 $ 290,520 2006 $ 2,313,853
2007 $ 329,274 2007 $ 2,483,167
2008 $ 373,969 2008 $ 2,861,340
2009 $ 528,532 2009 $ 2,934,792
SOURCE:
(1) City of Pasco Building Department
(2) Federal Deposit Insurance Corporation Market Share Deposit Report
(Includes all banking institutions in 2009)
(3) Franklin County Assessors Office
154
City of Pasco, `Washington 2009 Comprehensive ,annual TinanciaCAeport
OUR THANKS TO AN EXCELLENT TEAM
We recognize the contributions of the following City of Pasco employees for their contribution to this
report. Each member of this team of professionals played a key role in producing this CAFR. Their
dedication and teamwork are essential to the success of this report and all of their efforts are hugely
appreciated.
Rick Terway
Administrative and Community Service Director
Stephanie Brock
Interim Finance Manager
Michael Anderson
Senior Accountant
Karen Conn
Staff Accountant
Julie Oldman
Staff Accountant
155