HomeMy WebLinkAbout1990 Audit Report FinancialsUTY MANA(;tm. (509) 545-3404 Scan 72(d404 FAX (509) 545-3403
p:; P.O. BOX 293, 412 WEST CLARK, PASCO, WASHINGTON 99301
Mr. Robert V. Graham
State Auditor
Legislative Building AS-21
Olympia, Washington 98504-0421.
April 22, 1992
Re: Respo11se to Preliminary "Draft" of 1990 Audit Report No. 54071.
Dear Mr. Graham:
Please accept the following information as the city's response to the Audit
Findings and Recommendations for the report on Compliance With Laws and
Regulations and the Internal Control Recommendations reflected in the
above-referenced Audit Report.
1. The City Should Repay lnterfund Loans: In reference to the May 21,
1990 interfund loan authorized by Ordinance No. 2779, there clearly is
no intent for the permanent diversion of funds. The term of the loan
is definitely established at seven years and the interest rate of
eight percent was competitive at the time of the loan. In today's
market the interest rate is double what the lending funds would
receive if the money were invested in the State Treasurer's Investment
Pool. More important, however, is the fact that payments are being
made to the originating funds.
With regard to the 1983 loans, it has never been (and is not now) the
intention of the city to avoid repayment of all interfund loans or to
permanently divert funds. Interest has accrued on all interfund
loans and all principal and accrued interest will be paid to the
originating fund in accordance with the repayment plan outlined by the
city in its July 19, 1991 letter to the Attorney General's
Office. In essence, the city will repay the outstanding 1983 loans
at the rate of approximately $125,000 annually beginning in 1994,
unless property sales permit earlier repayment.
2. Internal Controls Over Accounts Receivable Should be Approved and
Supporting Detail Records Maintained: The city concurs with the
finding and recommendation. The accounts receivable for ambulance
and miscellaneous billings have been automated, with appropriate
controls.
3. Expenditures of the City Should be Limited to Appropriations: The
city concurs with the finding and recommendation.
4. Money in the Local Improvement District Guaranty Fund should only be
Used for Authorized Purposes: All the money transferred from the
L.I.D. Guaranty Fund was used to retire bonds that would inevitably
become delinquent. By retiring the debt early, not only was the
interest expense saved, but the impact on the L.I.D. Guaranty Fund of
having to retire all of the debt in one year was minimized.
5. The City of Pasco should only Expend Hotel/Motel Tax Revenues on
Allowable Expenditures: The 1989 Audit Report that first cited this
finding was not issued until December 1990, too late to correct
expenditures made during 1990. In 1991, all hotel/motel tax revenue
expenditures were in compliance with R.C.W. 67.28.210.
6. The City should Apply the Crime Victim Witness Percentage to Recouped
Costs: The city believes, on advice of its attorney, that RCW
3.50.100 exempts " ... costs awarded against convicted defendants in
criminal actions ... " and " ... costs awarded to prevailing parties in
civil actions ... " from the applicable definition of " ... money
retained ... " by the municipal court under RCW 7.68.035 for purposes of
distribution to the state funds and crime victim compensation fund.
7. The City's Department of Transportation (DOT) Grants should be
Charged Equipment Rental Based on Actual Usage: The method of
applying an equipment rental rate percentage was reviewed and found to
be acceptable in years past; it was only during an audit by the
Department of Transportation in 1991 that the long practiced method
was questioned. Immediately upon notification that our method of
applying equipment rental rates was unacceptable, we changed our
procedure.
Thank you for the opportunity to respond to your audit results.
cc: Dan Underwood, Finance Director
Greg Rubstello, City Attorney
Jim Chase, Assistant Finance Director
R0;fully submitted,
o/i~,d
1City~anager
I
Letter to State Auditor re: 1990 Audit Report, Page 2, 4/22/92
Exhibit 1 CITY OF PASCO, WASHINGTON COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS AS OF DECEMBER 31, 1990 (WITH COMPARATIVE TOTALS FOR 1989) FIDUCIARY ACCOUNT GROUPS TOTALS GOVERNMENTAL FUND TYPES PROPRIETARY FUND TYPES FUND TYPES GENERAL GENERAL {MEMORANDUM ONL:!.l SPECIAL DEBT CAPITAL INTERNAL TRUST AND FIXED LONG-TERM GENERAL REVENUE SERVICE PROJECTS ENTERPRISE SERVICE AGENCY ASSETS DEBT 1990 1989 ASSETS AND OTHER DEBITS ASSETS: Cash and Imprest Cash (Note 4) $1,433,173 $1,451,594 $1,115,261 $ (142,621) $ 722,003 $ 713,205 $ 887,094 $ 0 $ 0 $ 6,179,709 $ 2,194,440 Cash with Fiscal Agent 685 0 114,594 0 0 0 0 0 0 115,279 62,493 Investments (Note 4) 0 26,878 0 0 3,191 0 344,920 0 0 374,989 4,075,923 Receivables (net): Taxes 501,401 28,302 75,026 6,178 0 0 0 0 0 610,907 529,972 Accounts 423,417 21,964 0 0 142,938 0 333,564 0 0 921,883 938,297 Special Assessments 0 0 2,082,839 0 0 0 0 0 0 2,082,939 2,394,003 Interest 13,021 8,394 3,698 0 5,316 4,287 117,145 0 0 151,861 62,631 Grants 0 174,255 0 140,082 137,712 0 0 0 0 452,049 465,870 Loans/Advances Receivable 0 25,108 0 0 0 0 0 0 0 25,108 221,251 lnterfund Loans Receivable (Note 13) 0 481,700 5,800 0 18,920 330,000 382,919 0 0 1,199,339 698,488 Inventories, at Cost (Note 1) 0 0 0 0 155,078 3,341 0 0 0 158,419 125,631 Prepaid Expenses 0 0 0 0 8,266 0 0 0 0 8,266 29,146 Restricted Assets: (Note 4) Cash and Investments 0 0 0 0 498,037 0 0 0 0 498,037 497,656 F1Xed Assets (Note 7) 0 0 0 0 11,585,378 319,415 0 7,048,787 0 18,953,580 15,429,603 OTHER DEBITS: Unamortized Investment Premium 0 0 0 0 309 0 0 0 0 309 925 Unamortized Debt Discount 0 0 0 0 11,436 0 0 0 0 11,436 14,406 Amount Avail. In Debt Service Funds 0 0 0 0 0 0 0 0 2,869,844 2,869,844 2,915,211 Amount For Other Long-Term Debt 0 0 0 0 0 0 0 0 396,828 396,828 375,105 Amount to be Provided for Retirement of Long-Term Debt 0 0 0 0 0 0 0 0 2,499,372 2,499,372 1,348,694 TOTAL ASSETS $2,371,697 $2,218,195 $3,397,218 $ 3,639 $ 13,288,584 $1,370,248 $2,045,642 $7,048,787 $5,766,044 $37,510,054 $32,379,745
FIDUCIARY ACCOUNT GROUPS TOTALS GOVERNMENTAL FUND TYPES PROPRIETARY FUND TYPES FUND TYPES GENERAL GENERAL (MEMORANDUM ONL Yl SPECIAL DEBT CAPITAL INTERNAL TRUST AND FIXED LONG-TERM GENERAL REVENUE SERVICE PROJECTS ENTERPRISE SERVICE AGENCY ASSETS DEBT 1990 1989 LIABILffiES, EQUITY AND OTHER CREDITS LIABILffiES: Warrants Payable $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 122,445 $ 0 $ 0 $ 122,445 $ 170,336 Accounts Payable 155,947 179,401 0 1,037 62,740 17,381 34 0 0 416,540 298,193 Matured Bonds Payable 0 0 110,000 0 0 0 0 0 0 110,000 55,000 Matured Interest Payable 685 0 4,918 0 63 0 0 0 0 5,666 7,881 Retainage Payable 0 58,527 0 18,571 42,405 0 0 0 0 119,503 34,472 lnterfund Loans Payable (Note 13) 541,239 550,000 108,100 0 0 0 0 0 0 1,199,339 698,488 Due to Other Govemmental Units 5,377 1,174 0 0 0 14 67,915 0 0 74,480 (53,966) Accrued Interest Payable 0 0 803 0 30,049 0 0 0 0 30,852 34,522 Accrued Employee Benefits (Note 1) 0 0 0 0 86,934 8,233 0 0 396,828 491,995 454,156 Revenues Collected in Advance 0 0 0 0 0 0 0 0 0 0 18,185 Deposits Payable 26,999 11,006 0 1,746 15,743 1,534 0 0 0 57,028 20,295 G. o. Bonds Payable (Note 10) 0 0 0 0 1,205,000 0 0 0 1,245,000 2,450,000 2,875,000 L.I.D. Bonds Payable (Note 10) 0 0 0 0 0 0 0 0 2,115,000 2,115,000 2,705,000 Certificates of Participation (Note 10) 0 0 0 0 0 0 0 0 1,950,000 1,950,000 0 Notes Payable (Note 10) 0 0 0 0 0 0 0 0 59,216 59,216 10,000 Other Long Term Liabilities 0 0 0 0 933,750 0 0 0 0 933,750 265,655 Deferred Revenue 635,681 19,145 283,502 5,969 174,192 0 0 0 0 1,118,489 1,481,754 Deferred Compensation (Note 8) 0 0 0 0 0 0 333,564 0 0 333,564 281,823 Total Liabilities 1,365,928 819,253 507,323 27,323 2,550,876 27,162 523,958 0 5,766,044 11,587,867 9,356,794 EQUrrY AND OTHER CREDITS: Investment in General Fixed Assets 0 0 0 0 0 0 0 7,048,787 0 7,048,787 4,844,272 Contributed Capital (Note 14) 0 0 0 0 3,935,316 0 0 0 0 3,935,316 3,922,163 Retained Earnings: (Note 14) Reserved 0 0 0 0 18,920 1,365,149 0 0 0 1,384,069 1,214,751 Unreserved 0 0 0 0 6,783,472 (22,063) 0 0 0 6,761,409 6,281,302 Fund Balances: (Note 14) Reserved 6,650 578,195 2,889,895 (23,684) 0 0 1,521,684 0 0 4,972,740 4,662,600 Unreserved-Designated 12,959 0 0 0 0 0 0 0 0 12,959 12,869 Unreserved-Undesignated 986,160 820,747 0 0 0 0 0 0 0 1,806,907 2,084,994 Total Equity and Other Credits 1,005,769 1,398,942 2,889,895 !23,6841 10,737,708 1,343,086 1,521,684 7,048,787 0 25,922,187 23,022,951 TOTAL LIABILffiES, EQUrrY AND OTHER CREDITS $2,371,697 $2,218,195 $3,397,218 $ 3,639 $13,288,584 $1,370,248 $2,045,642 $7,048,787 $5,766,044 $37,510,054 $32,379,745 See Accompanying Notes to Financial Statements
SPECIAL REVENUE FUNDS
Specia1 Revenue Funds are used to account for the
proceeds of specific revenue sources (other than major
capital projects, and trusts) and are segregated into
individual funds to insure that expenditures are made
only for qualified purposes.
City Street Fund -responsible for the maintenance of
all City streets, traffic control devices, and storm
sewers. Primary revenue sources include state-shared
revenue and a portion of the City's sales tax.
Arteria1 Street Fund -accounts for the development
of arterial streets (main thoroughfares) in the City.
Main revenue sources are state-shared revenue, and
federal and state grants.
Street Over1ay Fund -responsible for the maintaining
of C y streets that have previously been upgraded
through Local Improvement District assessments.
B1ock Grant Fund -responsible for the administration
of the Federal Community Development Block Grant
Program.
King Community Center Fund -accounts for revenue
and expenditures generated and spent on Community Center
activit s.
Contingency Fund -this fund accounts for revenue
reserved by the City Council to meet emergency or
unforeseen circumstances. No expenditures can be made
without specific Council approval.
Cemetery Fund -accounts for revenues and expenditures
to run the City-owned cemetery. Revenue is derived
through fees.
Ath1etic Program Fund -accounts for user fees and
related expenditures for specific team sports.
Senior Center Fund -accounts for grants, donations,
and City and County contributions to support senior
citizen activiti.es for seniors throughout the County.
CITY OF PASCO, WASHINGTON
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
AS OF DECEMBER 31, 1990 (WITH COMPARATIVE TOTALS FOR 1989)
CITY ARTERIAL
STREET STREET
ASSETS
Cash $ 305,488 $ 303,290
Investments 0 0
Receivables, net:
TaJCes 0 0
Accounts 0 0
Interest 1,956 1,581
Grants 0 0
Loans/Advances Receivable 0 0
lnterfund Loans Receivable 0 0
TOTAL ASSETS $ 307,444 $ 304,871
LIABILITIES & FUND BALANCES
LIABILITIES
Accounts Payable $ 20,356 $ 0
Retainage Payable 4,888 0
lnterfund Loans Payable 0 0
Due To Other Governments 0 0
Consumer Deposits 798 0
Deferred Revenue 0 0
Total Liabilities 26,042 0
FUND BALANCES
Reserved for lnterfund Loans 0 0
Reserved for Block Grant Program 0 0
Reserved for Revolving Loans 0 0
Reserved for Future Uses 0 0
Unreserved-Undesignated 281,402 304,871
Total Fund Balances 281,402 304,871
TOTAL LIABILITES
AND FUND BALANCES $ 307,444 $ 304,871
See Accompanying Notes to Financial Statements.
Exhibit 8-1
BLOCK GRANT
STREET REVOLVING
OVERLAY BLOCK GRANT LOAN
$ 122,173 $ (14,874) $ 0
0 0 26,878
24,875 0 0
0 0 0
709 0 0
0 31,851 0
0 0 25,108
0 0 0
$ 147,757 $ 16,977 $ 51,986
$ 0 $ 12,089 $ 0
1,456 1,190 0
0 0 0
0 0 0
0 10,208 0
0 0 0
1,456 23,487 0
0 0 0
0 (6,510) 0
0 0 25,108
0 0 0
146,301 0 26,878
146,301 (6,510} 51,986
$ 147,757 $ 16,977 $ 51,986
CITY OF PASCO, WASHINGTON
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED DECEMBER 31, 1990
Exhibit C·3
1971 G.O. BRIDGE BOND L.I.D. ASSESSMENTS
VARIANCE VARIANCE
Favorable Favorable
BUDGET ACTUAL (Unfavorable) BUDGET ACTUAL (Unfavorable)
REVENUES
Property Tax $ 70,950 $ 70,530 $ (420) $ 0 $ 0 $ 0
Principal Payments 0 0 0 0 365,498 365,498
Assessment Penalties and Interest 0 0 0 0 95,691 95,691
Interest 800 1,262 462 0 14,251 14,251
Total Revenues 71,750 71,792 42 0 475,440 475,440
EXPENDITURES
Debt Service:
Principal 65,000 65,000 0 0 600,000 (600,000)
Interest and Fiscal Agent Charges 6,750 6,750 0 0 346,467 !346,467)
Total Expenditures 71,750 71,750 0 0 946,467 (946,467)
OTHER FINANCING
SOURCES (USES)
Operating Transfers -In 0 0 0 0 686,000 686,000
Operating Transfers -(Out) 0 0 0 0 0 0
Total Other Financing Sources (Uses) 0 0 0 0 686,000 686,000
Excess (Deficiency) of Revenues
Over Expenditures and Other
Rnanclng Sources (Uses) 0 42 42 0 214,973 214,973
Fund Balances, January 1 0 2,566 2,566 0 2,068,673 2,068,673
Fund Balances, December 31 $ 0 $ 2,608 $ 2,608 $ 0 $2,283,646 $2,283,646
See Accompanying Notes to Financial Statements.
CITY OF PASCO, WASHINGTON
CAPITAL PROJECT FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCES
YEARS ENDED DECEMBER 31, 1990 (WITH COMPARATIVE TOTALS FOR 1989)
ARTERIAL
CITY STREET STREET
CONSTRUCTION CONSTRUCTION
REVENUES
Intergovernmental $ 993 $ 180,457
EXPENDITURES
Other Services & Charges 0 0
Capital Outlay 0 321,612
Total Expenditures 0 321,612
Excess (Deficiency) of
Revenues Over Expenditures 993 (141,155)
OTHER FINANCING SOURCES (USES)
Operating Transfers - In 0 136,834
Operating Transfers -(Out) {993) (3,870}
Total Other Financing Sources (993) 132,964
Excess (Deficiency) of Revenues and
Other Financing Sources over Expenditures 0 (8,191)
Fund Balances, January 1 0 0
Prior Period Adjustment 0 0
Fund Balances, December 31 $ 0 $ (8,191)
See Accompanying Notes to Financial Statements.
Exhibit D-2
GENERAL
PURPOSE
CONSTRUCTION
$ 3,489
0
0
0
3,489
0
0
0
3,489
(7,149)
0
$ (3,660)
CITY OF PASCO, WASHINGTON
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
AS OF DECEMBER 31, 1990 (WITH COMPARATIVE TOTALS FOR 1989)
ASSETS
Current Assets
Cash
Investments
Receivables, net:
Accounts
Interest
Grants
Note Receivable
lnterfund Loans Receivable
Inventories
Prepaid Expenses
Total Current Assets
Restricted Assets
Bond Reserve/Redemption
Reserve for Capital Expansion
Deposits
Customer
Construction
Total Restricted Assets
Property Plant & Equipment
Land & Land Rights
Other Tangible Property
Structures/Improvements/Equipment
Less: Accumulated Depreciation
Construction Work in Progress
Total Property, Plant & Equipment
Deferred Debits
Unamortized Investment Premium
Unamortized Debt Discount
Total Deferred Debits
TOT AL ASSETS
See Accompanying Notes to Financial Statements.
$
1990
722,003
3,191
142,938
5,316
137,712
0
18,920
155,078
8,266
1,193,424
415,156
67,138
7,630
8,113
498,037
22,034
(4,796)
12,816,518
(7,551,785)
6,303,407
11,585,378
309
11,436
11,745
$ 13,288,584
Exhibit E-1
$
1989
335,828
238,805
155,886
5,093
137,712
194,321
18,920
120,003
29,146
1,235,714
430,833
59,838
6,985
0
497,656
22,034
(4,796)
12,419,695
(7,178,441)
5,165,747
10,424,239
925
14,406
15,331
$ 12, 172,940
CITY OF PASCO, WASHINGTON
CEMETERY NON-EXPENDABLE TRUST FUND
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 1990 AND 1989
ASSETS
Cash
Investments
Interest Receivable
lnterfund Loans Receivable
TOTAL ASSETS
FUND BALANCES
Reserved for lnterfund Loans
Other Reserves
TOT AL FUND BALANCES
See Accompanying Notes to Financial Statements.
Exhibit G-2
1990 1989
$ 98,158 $ (7,051)
0 90,000
631 0
48,600 59,111
$ 147,389 $ 142,060
$ 48,600 $ 59,111
98,789 82,949
$ 147,389 $ 142,060
Exhibit G-3
CITY OF PASCO, WASHINGTON
CEMETERY NON-EXPENDABLE TRUST FUND
COMPARATIVE STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES
FOR THE YEARS ENDED DECEMBER 31, 1990 AND 1989
NON-EXPENDABLE TRUST
CEMETERY
1990 1989
OPERATING REVENUES
Charges for Services $ 5,329 $ 4,790
EXPENSES 0 0
Operating Income 5,329 4,790
NON-OPERATING REVENUES
Interest Income 17,709 8,618
OTHER FINANCING USES
Operating Transfers -(Out) {17,709} (8,618)
Net Income 5,329 4,790
Fund Balances, January 1 142,060 127,935
Prior Period Adjustment 0 9,335
Fund Balances, December 31 $ 147,389 $ 142,060
See Accompanying Notes to Financial Statements.
CITY OF PASCO, WASHINGTON
CEMETERY NON-EXPENDABLE TRUST FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1990
Cash flows from operating Activities:
Cash received from users
Net cash provided by operating activltes
Cash Flows From Noncapital Financing Activities
Payments To Other Funds
Net Cash Uses By Noncapital Financing Activities
Cash Flows From Investing Activities:
Proceeds from sale of Investments
Purchase of lnvesments
Interest Income
Loan Payment Received
Net Cash Provided By Investing Activities
Net Increase In Cash And Cash Equivalents
Cash and cash equivalents, January 1
Cash and cash equivalents, December 31
Exhibit G-4
$ 5,329
5,329
{17,709}
(17,709)
515,000
(425,000)
17,078
10,511
117,589
105,209
!1,os1z
98,158
RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES
Operating Income
Adjustments to reconcile operating Income to
net cash provided by operating activities:
Net cash provided by operating activities
See Accompanying Notes to Financial Statements.
$ 5,329
0
$ 5,329
CITY OF PASCO, WASHINGTON
FIRE PENSION TRUST FUND
COMPARATIVE BALANCE SHEETS
AS OF DECEMBER 31, 1990 AND 1989
ASSETS
Cash
Investments
Interest Receivable
lnterfund Loans Receivable
TOTAL ASSETS
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts Payable
Due Other Governments
Total Liabilities
FUND BALANCES
Reserved for lnterfund Loans
Other Reserves
Total Fund Balances
TOT AL LIABILITIES AND FUND BALANCES
See Accompanying Notes to Financial Statements.
Exhibit G-5
1990 1989
$ 598,634 $ 65,632
344,920 779,920
116,513 92,774
314,319 352,583
$1,374,386 $ 1,290,909
$ 34 $ 2,097
57 57
91 2,154
314,319 352,583
1,059,976 936,172
1,374,295 1,288,755
$1,374,386 $1,290,909
Exhibit G·6
CITY OF PASCO, WASHINGTON
FIRE PENSION TRUST FUND
COMPARATIVE STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES
FOR THE YEARS ENDED DECEMBER 31, 1990 AND 1989
OPERATING REVENUES
Intergovernmental Revenue
OPERATING EXPENSES
Pension Services
Net Operating Income (Loss)
OTHER INCOME
Interest Income
Net Income
Fund Balances, January 1
Prior Period Adjustment
Fund Balances, December 31
See Accompanying Notes to Financial Statements.
PENSION TRUST FUND
FIRE PENSION
1990 1989
$ 14,409 $ 14,058
48,430 49,883
(34,021) (35,825)
119,561 131,645
85,540 95,820
1,288,755 1,176,127
0 16,808
$1,374,295 $ 1,288,755
CITY OF PASCO, WASHINGTON
FIRE PENSION TRUST FUND
STATEMENT OF CASH FLOW
FOR THE YEAR ENDED DECEMBER 31, 1990
Cash flows from operating activities:
Cash received from users
Cash payments to employees
Net cash used by operations
Cash flows from Investing activities:
Principal received on loan receivable
Proceeds from sale of investments
Purchase of investments
Interest received
Net cash provided by investing activities
Net increase in cash
Cash, January 1
Cash, December 31
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED BY OPERATING ACTIVITES
Operating Income (loss)
Adjustments to reconcile operating income to net cash
provided by operating activities:
Decrease in accounts payable
Net cash used by operating activities
See Accompanying Notes to Financial Statements.
Exhibit G-7
$ 14,409
!50,493)
!36,084)
38,264
2,895,000
(2,460,000)
95,822
569,086
533,002
65,632
$ 598,634
$ (34,021)
(2,063)
$ !36,084)
CITY OF PASCO, WASHINGTON
AGENCY FUNDS
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED DECEMBER 31, 1990
ASSETS
Cash
Accounts Receivable
TOTAL ASSETS
LIABILITIES
Warrants Payable
Due to Other Governmental Units
Deferred Compensation
TOT AL LIABILITIES
See Accompanying Notes to Financial Statements.
Balance
January 1,
1990
$ 0
281,823
$ 281,823
$ 0
0
281,823
$ 281,823
Exhibit G-8
DEFERRED COMPENSATION
Balance
December 31,
Additions Deletions 1990
$ 0 $ 0 $ 0
51,741 0 333,564
$ 51,741 $ 0 $ 333,564
$ 0 $ 0 $ 0
0 0 0
51,741 0 333,564
$ 51,741 $ 0 $ 333,564
CITY OF PASCO, WASHINGTON
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 1990
Balance
January 1,
1990
ASSETS
Cash $ (90,847)
Accounts Receivable 0
TOTAL ASSETS $ (90,847)
LIABILITIES
Warrants Payable $ 0
Due to Other Governmental Units (90,847)
referred Compensation 0
TOT AL LIABILITIES $ !90,847)
See Accompanying Notes to Financial Statement,.
$
$
$
$
Exhibit G-8 ,concluded
METRO DRUG FUNDS
Balance
December 31,
Additions Deletions 1990
574,179 $ 415,474 $ 67,858
0 0 0
574,179 $ 415,474 $ 67,858
0 $ 0 $ 0
574,179 415,474 67,858
0 0 0
574,179 $ 415,474 $ 67,858
Balance
January 1,
1990
$ 77,393
281,823
$ 359,216
$ 77,393
281,823
190,976
TOTALS
Additions
$ 14,201,666
51,741
$ 14,253,407
$ 13,627,487
625,920
0
Deletions
$ 14,088,756
0
$ 14,088,756
$ 13,673,282
415,4""4
0
Balance
December 31,
1990
$ 190,303
333,564
$ 523,867
$ 31,598
190,976
$ 550,192 $14,253,407 $14,088,756 $ 222,574
GENERAL ACCOUNT GROUPS
Genera1 Fixed Assets Account Group
account for the City's capitalized general
other than those related to proprietary or
funds.
is used to
fixed assets,
similar trust
Genera1 Long-Term Debt Account Group is used to
account for the principal of the long-term general
obligation debt of the City other than that accounted
for in proprietary funds. Included are voted and non-
voted general obligation debt, special assessment debt,
accumulated employee leave benefits, and other general
obligation debt, all of which are backed by the full
faith and credit of the City of Pasco.
99
'
OF PASCO, WASHINGTON
SCHEDULE OF GENERAL FIXED ASSETS
-BY FUNCTION AND ACTIVITY
AS OF DECEMBER 31, 1990
FUNCTION AND ACTIVITY LAND
GENERAL GOVERNMENT:
City Manager $
City Attorney
Rnance
0
0
0
Non-Departmental 2,233,386
Total General Government 2,233,386
SECURITY OF PERSONS & PROPERTY:
Police 0
Rre 0
Total Public Safety 0
PHYSICAL ENVIRONMENT:
Engineering 0
Maintenance 0
Total Physical Environmental 0
ECONOMIC ENVIRONMENT:
Community Development 0
Total Economic Environment 0
CULTURE & RECREATION:
Parks & Recreation 0
Total Culture & Recreation 0
TOTAL GENERAL FIXED ASSETS $ 2,233,386
cee Accompanying Notes to Financial Statements.
BUILDINGS
$ 0
0
0
2,261,242
2,261,242
0
31,000
31,000
0
31,000
31,000
223,471
223,471
309,883
309,883
$ 2,856,596
Exhibit H-2
IMPROVEMENTS MACHINERY
OTHER THAN AND CONSTRUCTION
BUILDINGS EQUIPMENT IN PROGRESS TOTAL
$ 0 $ 9,460 $ 0 $ 9,460
0 6,487 0 6,487
0 19,762 0 19,762
234,381 341,951 0 5,070,960
234,381 377,660 0 5,106,669
12,186 150,385 0 162,571
11,684 139,205 0 181,889
23,870 289,590 0 344,460
0 45,315 0 45,315
0 53,841 0 84,841
0 99,156 0 130,156
91,673 15,487 0 330,631
91,673 15.487 0 330,631
544,091 282,897 0 1,136,871
544,091 282,897 0 1,136,871
$ 894,015 $1,064,790 $ 0 $7,048,787
Exhibit H-3
CITY OF PASCO, WASHINGTON
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
-BY FUNCTION AND ACTIVITY
AS OF DECEMBER 31, 1990
GENERAL GENERAL
FIXED ASSETS FIXED ASSETS
FUNCTION AND ACTIVITY Janua!i: 1, 1990 Additions Deductions December 31, 1990
GENERAL GOVERNMENT:
City Manager $ 8,649 $ 811 $ 0 $ 9,460
City Attorney 6,487 0 0 6,487
Finance 16,661 3,101 0 19,762
Non-Departmental 2,899,885 2,171,075 0 5,070,960
Total General Government 2,931,662 2,174,987 0 5,106,669
SECURITY OF PERSONS & PROPERTY:
Police 149,256 13,315 0 162,571
Fire 172,765 9,124 0 181,889
Total Public Safety 322,021 22,439 0 344,460
PHYSICAL ENVIRONMENT:
Engineering 40,423 4,892 0 45,315
Maintenance 84,841 0 0 84,841
Total Physical Environmental 125,264 4,892 0 130,156
ECONOMIC ENVIRONMENT:
Community Development 330,144 487 0 330,631
Total Economic Environment 330,144 487 0 330,631
CULTURE & RECREATION:
Parks & Recreation 1,135,161 1,710 0 1,136,871
Total Culture & Recreation 1,135,161 1,710 0 1,136,871
TOTAL GENERAL FIXED ASSETS $ 4,844,272 $ 2,204,515 $ 0 $ 7,048,787
See Accompanying Notes to Financial Statements.
OF PASCO, WASHINGTON
SCHEDULE OF LONG-TERM DEBT
GENERAL LONG-TERM DEBT ACCOUNT GROUP
AS OF DECEMBER 31, 1990 AND 1989
AMOUNT AVAILABLE AND TO BE PROVIDED
Amount Available in Debt Service Funds
Amount to be Provided for Other Long-Term Liabilities
Amount to be Provided for Bond Payments
TOTAL AMOUNT AVAILABLE AND TO BE PROVIDED
GENERAL LONG-TERM DEBT PAYABLE
Accrued Employee Leave Benefits
General Obligation Bonds Payable
Notes Payable
Bonds Payable
.I.D. Notes Payable
~ertificates of Participation
TOTAL GENERAL LONG-TERM DEBT
ee Accompanying Notes to Financial Statement,;,
1990
$2,869,844
396,828
2,499,372
$5,766,044
$ 396,828
1,245,000
59,216
2,115,000
0
1,950,000
$5,766,044
1989
$2,908,537
362,470
1,355,368
$4,626,375
$ 362,470
1,470,000
78,905
2,705,000
10,000
0
$4,626,375
CITY OF PASCO, WASHINGTON
SCHEDULE OF WARRANT ACTIVITY
YEAR ENDED DECEMBER 31, 1990
FUND FUND PAYABLE
NO. NAME 1/1/90
690 Payroll
Clearing $ 101,505
695 Claims
Clearing 66,734
TOTAL 168,239
790 Sidewalk
Construction
Fund 10,000
GRAND TOTAL $ 178,239
ISSUED
REPORT
YEAR
$ 4,414,556
9,246,101
13,660,657
0
$ 13,660,657
REDEEMED CANCELLED
NET REPORT REPORT PAYABLE
ISSUE YEAR YEAR 12/31/90
$ 4,414,556 $ 4,404,018 $ 0 $ 112,043
9,246,101 9,269,263 0 43,572
13,660,657 13,673,281 0 155,615
0 10,000 0 0
$ 13,660,657 $ 13,683,281 $ 0 $ 155,615
CITY OF PASCO, WASHINGTON
SCHEDULE OF REAL AND PERSONAL PROPERTY TAXES
(ALL TAX-SUPPORTED FUNDS)
YEAR ENDED DECEMBER 31, 1990
TAXES TAX TAXES
RECEIVABLE RATE LEVIED
FUND NAME 1/1/90 /$1,000 REPORT YEAR
General Fund $221,831 $ 3.6000 $1,288,659
Street Bond 272 0.0000 0
Library 20 0.0000 0
Fire Equipment 9,626 0.0000 0
Law Enforcement 12,003 0.0000 0
1971 Bridge Bond 11,035 0.2566 70,953
L.I.D. Guaranty 44,744 1.1641 416,702
TOTAL TAXES $299,531 $ 5.0207 $ 1,776,314
TAXES
TAXES NET TAX REC.
COLLECTED ADJUST. 12/31/90
$1,288,914 $ (7,439) $ 214,137
67 (50) 155
5 (4) 11
3,489 (169) 5,968
4,354 (205) 7,444
70,530 (361) 11,097
404,679 (534) 56,233
$1,772,038 $ (8,762) $ 295,045
CITY OF PASCO, WASHINGTON
SCHEDULE OF LONG-TERM DEBT· G.O. AND REVENUE
YEAR ENDED DECEMBER 31, 1990
ISSUE
DESCRIPTION PURPOSE DATE
251.11 1977 G.O.B. Bridge 541.51.61 1/1/77
251.11 1979 G.O.B. Bridge 541.51.61 8/1/79
251.11 1983 G.O.B. Golf 533.50.63 5/1/83
Total Councilmanic G.O. Bonds
251.12 1971 G.O.B. Bridge 541.51.63 11/1/71
Total Voted G.O. Bonds
263.81 Bridge Equalization 541.51.63 1/1/77
263.97 Golf Redevelopment 576.80.63 10/6/86
263.81 Public Safety Building 521.50.62 1969
263.53 Wastewater Development Land 1990
Total Non-Bonded G.O. Debt
TOTAL G.O. DEBT
252.11 1964 WIS Revenue Bond 534.30.63 12/1/64
252.15 1974 WIS Refunding Bond 534.30.63 4/1/74
252.11 1983 WIS Revenue Bond 534.30.63 3/1/83
263.82 Road 68 Water Tank 7/24/89
TOTAL UTILITY DEBT
FINAL ORIGINAL
MATURITY INTEREST ISSUE
DATE RATE AMOUNT
1/1/97 5.56% $ 720,000
8/1/99 7.00% 895,000
5/1/93 7.75-8.5% 640,000
2,255,000
11/1/91 4.7658% 820,000
820,000
2/97 4.6-6.6% 165,400
Open 8.00°/o 290,000
6/90 Various 132,000
1/1/98 Various 1,950,000
2,537,400
$5,612,400
7/1/90 3.0-3.6% $1,100,000
9/1/93 6.0% 900,000
3/1/95 5.75-9.4% 800,000
7/24/09 3.0% 1,245,000
$4,045,000
BEGINNING AMOUNT ENDING
UNMATURED AMOUNT DUE THIS UNMATURED
DEBT ISSUED PERIOD DEBT
1977 G.O.B. Bridge $ 405,000 $ 0 $ 40,000 $ 365,000
1979 G.O.B. Bridge 590,000 0 45,000 545,000
1983 G.0.8. Golf 340,000 0 75,000 265,000
1,335,000 0 160,000 1,175,000
1971 G.O.B. Bridge 135,000 0 65,000 70,000
135,000 0 65,000 70,000
Bridge Equalization 67,025 0 7,809 59,216
Golf Redevelopment 265,801 0 5,182 260,619
Public Safety Building 11,880 0 11,880 0
Wastewater Development Land 0 1,950,000 0 1,950,000
344,706 1,950,000 24,871 2,269,835
$1,814,706 $1,950,000 $ 249,871 $3,514,835
1964 W/S Revenue Bond $ 135,000 $ 0 $ 135,000 $ 0
1974 WIS Refunding Bond 605,000 0 30,000 575,000
1983 WIS Revenue Bond 665,000 0 35,000 630,000
Road 68 Water Tank 186,750 747,000 0 933,750
$1,591,750 $ 747,000 $ 200,000 $2,138,750
I I I
l ,-. CITY OF PASCO, WASHINGTON
I 1 / .. .,,\IATER/SEWER REVENUE BOND COVERAGE
1st Ten Fiscal Years
Table 8
Expenses
Gross Less Non-Cash Net Available
Operating Expenses and for Debt
Year Revenue City Taxes Service
1981 $ 1,455,461 $ 1,027,526 $ 427,935
1982 1,837,510 982,510 855,000
1983 1,860,374 1,026,348 834,026
1984 1,877,173 996,364 880,809
1985 1,957,169 1,039,114 918,055
1986 1,907,058 1,072,550 834,508
1987 1,840,268 1,161,098 679,170
1988 1,862,060 1,079,616 782,444
1989 2,040,709 1,123,658 917,051
1990 2,158,410 1,104,330 1,054,080
Total
Annual Bond
Principal Interest Debt Service Coverage
$ 124,000 $ 87,318 $ 211,318 2.0
128,000 81,948 209,948 4.1
131,000 114,099 245,099 3.4
154,000 143,102 297,102 3.0
160,000 137,767 297,767 3.1
170,000 130,630 300,630 2.8
179,000 119,346 298,346 2.3
185,000 111,196 296,196 2.6
195000 102,679 297,679 3.1
200,000 93,326 293,326 3.6