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HomeMy WebLinkAbout2013 Annual Report 0364 MCAG No. City of Port Townsend ANNUAL REPORT Submitted pursuant to RCW 43.09.230 to the Washington State Auditor's Office For the Fiscal Year Ended December 31, 2013 Prepared& Certified by: Corena M Stern, Deputy Finance Director Assisted by: Sarah G. Tiffany,Project& Grants Accountant City of Port Townsend Notes to the Financial Statements For the Year Ended December 31, 2013 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Port Townsend reports financial activity using the revenue and expenditure classifications, statements, and schedules contained in the Cash Basis Budgeting, Accounting and Reporting System (BARS) manual. This basis of accounting and reporting is another comprehensive basis of accounting (OCBOA)that is prescribed by the State Auditor's Office under the authority of Washington State law, Chapter 43.09 RCW. The City of Port Townsend was incorporated on January 16, 1860,and operates under the laws of the State of Washington applicable to a non-charter code city. The city is a general purpose government and provides police and fire protection, water, sewer, storm drainage, as well as maintaining parks, streets, and a library for use by its citizens. The city uses single entry, cash basis accounting for its governmental and proprietary fund types , which is a departure from generally accepted accounting principles (GAAP). Prior to 2008, the proprietary (utility) funds were reported on accrual basis. Proprietary Funds are used to account for activities that are operated in a manner similar to private enterprise business. A. Fund Accounting The accounts of the city are organized on the basis of funds and account groups,each of which is considered a separate accounting entity. Each fund is accounted for with a separate set of single entry accounts that comprise its cash, investments, revenues and expenditures or expenses, as appropriate. The city's resources are allocated to and accounted for in individual funds depending on what they are to be spent for and how they are controlled. The following are the fund types used by the city: Governmental Fund Types.- are used to finance most governmental functions and account for and report expendable financial resources and related obligations. General Fund (Fund 010) (Current Expense Fund) This fund is the primary operating fund of the city. It accounts for all financial resources except those required or elected to be accounted for in another fund. 1 Special Revenue Funds (Funds in the 100 series) These funds account for revenues derived from specific taxes, grants, or other sources which are designed to finance particular activities of the city. Debt Service Funds (Funds in the 200 series) These funds are used to gather resources to pay general government debt. Capital Projects Funds (Funds in the 300 series) These funds account for financial resources which are designated for the acquisition or construction of general government capital improvements. Proprietary Fund Types Enterprise Funds (Funds in the 400 series) These funds account for operations that provide goods or services to the general public and are supported primarily through user charges. Internal Service Funds (Funds in the 500 series) These funds account for operations that provide goods or services to other departments or funds of the city or other governmental units on a cost- reimbursement basis. Fiduciary Fund Types - Fiduciary funds account for assets held by the city in a trustee capacity or as an agent on behalf of others. Refundable Deposits (601) This fund accounts for deposits being held pending city criteria for builders being fulfilled. Pension (and Other Employee Benefit) Trust Funds (611-620) Firemen's Pension Private Purpose Trust Funds (621-630) Funds used to report all trust arrangements under which principal and income benefit individual,private organization and other government. Agency Funds (Funds 631-699) This fund accounts for assets whereby the city acts as a pass through agent for various government entities. 2 B. Basis of Accounting Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. Revenues are recognized only when cash is received and expenditures are recognized when paid, including those properly chargeable against the prior year(s) budget appropriations as required by state law. Purchases of capital assets are expensed during the year of acquisition. There is no capitalization of capital assets, nor allocation of depreciation expense. Inventory is expensed when purchased. The basis of accounting described above represents a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. C. Budgets and Budgetary Accounting Annual appropriated budgets are adopted for all funds at the fund level. The budgets constitute the legal authority for expenditures at that level. Annual appropriations for all funds lapse at year end. The city manager is authorized to transfer budgeted amounts between (department within and fund/object classes with departments); 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. 3 The appropriated and actual expenditures for the legally adopted budgets were as follows: 2013 Final Appropriated Actual Amounts Expenditures Variance General $ 6,783,040 $ 6,690,466 $ 92,574 Drug Enforcement & Educ Fund $ 2 $ - $ 2 Contingency $ - $ - $ - Street $ 731,766 $ 702,019 $ 29,747 Library $ 1,020,727 $ 995,835 $ 24,892 Public Work &Admin $ 311,172 $ 295,552 $ 15,620 Lodging Tax $ 346,517 $ 336,805 $ 9,712 Fire & EMS Service $ 2,230,369 $ 2,205,494 $ 24,875 Affordable Housing Fund $ 6,500 $ 4,344 $ 2,156 CDBG $ 50,000 $ - $ 50,000 System Development Chrges $ - $ - $ - Community Services $ 1,747,807 $ 1,730,209 $ 17,598 GO Debt Service $ 1,136,711 $ 1,134,993 $ 1,718 Water/Sewer Utility $ 4,198,159 $ 4,067,571 $ 130,588 Stormwater $ 668,593 $ 658,562 $ 10,031 Utility Construction Fund $ 4,472,000 $ 4,068,778 $ 403,222 Trans line Replacement $ 2,013,500 $ 1,639,030 $ 374,470 1978 Water Sewer Rev Bond $ 21,500 $ 20,750 $ 750 1992/98 WS Revenue Bond Reserve $ - $ - $ - 92 Water/Sewer Bond Redemption $ 5,626 $ 5,627 $ (1) Equipment Rental $ 1,225,133 $ 1,129,238 $ 95,895 Engineerng Service Fund $ 535,887 $ 502,122 $ 33,765 Firemen's Pension $ 71,855 $ 71,680 $ 175 Memorial Fund $ - $ - $ - Golf Course Fund $ 24,989 $ 24,989 $ (0) Maritime Center Fund $ - $ - $ - Capitallmprovement $ 2,873,050 $ 2,512,926 $ 360,124 $ 30,474,903 $ 28,796,992 $ 1,677,911 D. Assets, Liabilities and Equities Cash and Equivalents It is the city's policy to invest all temporary cash surpluses. The amounts are included in the net cash and investments shown on the statements of fund resources and uses arising from cash transactions. The interest on these investments is prorated to the various funds. The city's deposits are entirely covered by federal depository insurance(FDIC and FSLIC)or by collateral held in a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission (PDPC). 4 Investments See Note 3. Capital Assets Capital assets are long-lived assets of the city and are recorded as expenditures when purchased. Compensated Absences Vacation pay, which may be accumulated up to 6 weeks for regular employees and 360 hours for department heads, is payable upon resignation, retirement or death. Sick leave may be accumulated up to 1440 hours. Upon separation or retirement employees do not receive payment for unused sick leave. Long-Term Debt See Note 5. Other Financing Sources Or Uses The city's "Other Financing Sources or Uses" consist of Operating transfers-in, Operating transfers-out, special assessment bond proceeds,proceeds from refunding bonds, and capital leases. Risk Mana_eg ment See Note 8. NOTE 2 - COMPLIANCE AND ACCOUNTABILITY There have been no material violations of finance-related legal or contractual provisions. NOTE 3 - INVESTMENTS The city's investments are either insured, registered, or held by the city or its agent in the city's name. As required by state law, all investments of the city's funds are obligations of the U S Government, the State Treasurer's Investment Pool, or deposits with Washington State banks and savings and loan institutions. 5 Investments by type at December 31, 2013 are as follows: Investments Carrying Amount Market Value Washington State Treasurer's Imestment Pool $ 6,387,682.48 $ 6,387,682.48 2013 Total Imiestments $ 6,387,682.48 $ 6,387,682.48 NOTE 4 -PROPERTY TAXES The Jefferson County Treasurer acts as agent to collect property taxes levied in the county for all taxing authorities. Collections are distributed after the total collected surpasses $10,000; with any balance left over distributed at month-end. Property tax revenues are recognized when cash is collected. Delinquent taxes are considered fully collectible because a lien affixes to the property when taxes are levied. The city's regular levy for 2013 was $1.42529 per $1,000.00 on an assessed valuation of $1,469,136,180 for a total regular levy of$2,093,945.11 The city also has a special levy for Emergency Medical Services (EMS). The EMS levy rate was voter approved in 2010 to $ .50 per $1,000 for a total levy of$734,568.09 in 2013. A Library LID lift was approved by voters in 2008 to be phased in over 2009-2011. For 2013 the library levy was .66400 per 1,000 for a total of$975,506.42 Voters approved a Fire Lid lift in 2012. For 2013 the Fire Lid lift was $.43708 per $1,000 for a tax amount of$642,130.01 6 NOTE 5 - LONG-TERM DEBT The accompanying Schedule of Long-term Liabilities (09)provides a listing of the outstanding debt of the city and summarizes the City of Port Townsend's debt transactions for the 2013. The debt service payments for the year being reported and future payment requirements, including interest, are as follows: ❑ G.O. Bonds Revenue Bonds Other Debt Total Debt 2013 $ 1,134,391 S 20,750 S 370,446 S 1,525,587 2014 S 1,132,606 S 25,000 S 391,433 S 1,549,039 2015 S 1,138,686 S 24,000 S 565,100 S 1,727,786 2016 S 1,298,436 S 23,000 S 589,978 S 1,911,414 2017 S 1,284,566 S 22,000 S 388,719 S 1,695,285 2018- $20,705,474 S 21,000 $2,589,765 $23,316,239 2038 Totals $26,694,159 S 135,750 $4,895,441 $31,725,350 A. BONDS The City of Port Townsend issues general obligation and revenue bonds to finance the construction and remodel of capital assets. Bonded indebtedness has also been entered into to advance refund revenue bonds. General obligation bonds have been issued for both general government and business-type activities and are being repaid from the applicable resources. The revenue bonds are being repaid by proprietary fund revenues. 7 In 2008 the City issued $7,500,000 in bonds to finance road and sidewalk improvements, as well as tourism, infrastructure, and waterfront access improvements. In 2010 the City issued an additional $3,740,000 in Bonds for sidewalks and utilities and street improvements, as well funding for the Carnegie library seismic retrofit. In 2012 the City refunded the balance of the 1999 G.O. Bonds and the 2005 G. O. Bonds. As part of the same refunding $1,505,000 of the 2003 LTGO Bonds were advanced refunded and well as $2,500,000 of the 2002 LTGO Bonds. The total amount of the 2012 LTGO refunding was $5,530,000. This refunding saved the City $645,221 over the course of 13 years. General obligation bonds currently outstanding are as follows: Issue Purpose Original Issue Interest Maturity Debt Date I I Rate Date Outstanding 2008 Limited GO Bonds for $7,500,000 4.15-5.00% 2038 $7,500,000 construction funds for Civic and Street Improvements 2010 Limited GO Bonds for Street, $3,740,000 2.30-5.00% 2030 $3,740,000 Sidewalk,Utilities and Historic District 2012 Limited GO Bonds for Refunding $5,530,000 .50-4.25% 2025 $5,100,000 of 1999 Bonds, a portion of the 2002 GO Bonds, a portion of the 2003 Bonds and the 2005 Bonds Total $16,340,000 8 As of December 31, 2013 the long term debt payable from proprietary fund resources consisted of the following: Issue Purpose I Original Issue Interest Maturity Debt Date I I Rate Date Outstanding] 1978 Water/Sewer Revenue Bonds $ 395,000 5% 2018 $ 100,000 Water and Sewer Improvements Total $100,000 B. Public Works Trust Fund Loans and State Revolving Fund Loans State of Washington Public Works Trust Fund(PWTF)Loans are an intergovernmental loan from the Public Works Board to undertake local public works projects. These loans are a direct responsibility of the City of Port Townsend. The City currently has eight such loans. State Revolving Fund(SRF)Loans are State of Washington Department of Ecology low interest loans for projects that protect and improve water quality. The City of Port Townsend currently has one SRF loan. The 2012 DWSRF and the 2012 PWTF Loans have not drawn down the full loan amount available; the debt outstanding reflects current drawdowns less any principal payments. 9 As of December 31, 2013 the long-term debt payable for PWTF and SRF loans consisted of the following: Issue Purpose Original Issue Interest Maturity Debt Date I Rate Date Outstanding 1998 PWTF Loan $2,172,055 1% 2018 S 223,590 CT Pipeline Tri-Area Water Storage Tri-Area Well Upgrades (payoff of$1,86,718 with sale of Tri-Area Assets) 1999 PWTF Loan $1,434,365 1% 2019 S 357,568 Gaines St Lift Station San Juan Sewer Trunk Line 2001 PWTF Loan $1,153,350 .5% 2021 S 442,214 Wastewater Treatment Outfall Expansion Trunk Sewer Line Replacement 2002 PWTF Loan $1,242,742 .5% 2022 S 600,317 Morgan Hill Water System Improvements 2002 SRF Loan S 856,803 1.5% 2024 S 514,515 Wastewater Conveyance Storm and Sewer Separation Gaines St Lift Station Phase 2 Trunk Sewer Replacement 2012 PWTF Loan $1,000,000 .5% 2031 S 947,358 City Lake Repair 2012 PWTF Loan $1,896,000 .5% 2031 S 604,389 LT2 Federally Mandated Construction of Water Treatment Facility 2012 DWSRF Loan $3,071,521 1.5% 2036 S 231,269 LT2 Federally Mandated Water Treatment facility Total $3,921,220 10 NOTE 6 -PENSION PLANS Substantially all city full-time and qualifying part-time employees participated in Public Employees' Retirement System (PERS), Law Enforcement Officers' and Fire Fighters' Retirement System (LEOFF) Volunteer Firemen Relief and Pension Fund, Firemen's Pension and Relief Fund administered by the Department of Retirement Systems, under cost-sharing multi-employer public employee defined benefit and defined contribution employee retirement plans. Actuarial information is on a system-wide basis and is not considered pertinent to the city's financial statements. Contributions to the systems by both employee and employer are based upon gross wages covered by the plan. Historical trends or other information regarding each plan is presented in the state Department of Retirement Systems annual financial report. A copy of this report may be obtained at: Department of Retirement Systems Communication Unit PO Box 48380 Olympia, WA 98504-8380 The City of Port Townsend is also the administrator of a pension retirement system called Firemen's Pension. The system is shown as a trust fund in the financial statements of the City of Port Townsend. As of December 31, 2013 there were a total of four individuals covered by this system of which zero were currently still employed and four were drawing benefits. As of December 31, 2013 the market value of assets was $227,546. NOTE 7 - RISK MANAGEMENT The City of Port Townsend is a member of the Washington Cities Insurance Authority (WCIA). Utilizing Chapter 48.62 RCW (self-insurance regulation) 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 162 members. 11 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, public officials' errors and omissions, stop gap, and employee benefits liability. Limits are $4 million per occurrence self insured layer, $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 sublimits in the excess layers. The Board of Directors determines the limits and terms of coverage annually. Insurance coverage for property, automobile physical damage, fidelity , 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 coverage are self- funded up to $750,000, for all perils other than flood and earthquake, and insured above that amount by the purchase of insurance. In-house services include risk management consultation, loss control field services, claims and litigation administration, and loss analysis. 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. WCIA is governed by a Board of Directors 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. 12 NOTE 8 - RESTRICTED FUNDS In accordance with bond ordinances and certain related agreements, separate restricted funds are required to be established. The assets held in these funds are restricted for specific uses, including construction, debt service, and other special reserve requirements. NOTE 9— SYTEM DEVELOPMENT CHARGES FUND RESERVE In accordance with ordinance No. 2666 dated 11/03/98 a low-income deferral account for system development charges was established. The General Fund paid $15,000 to the System Development Charges Fund The remaining balance of this account for 2013 was used to pay for several Habitat for humanity SDC deferrals. NOTE 10 -UTILITY RECEIVABLES All delinquent accounts receivable must receive prior City Council approval before they are written off. NOTE 11 - CONTINGENCIES AND LITIGATION In the opinion of management the city's self-insurance reserves are adequate to pay all known or pending claims. (See Note 7.) NOTE 12—INTERFUND LOANS In March 2010, City Council authorized short term interfund loans up to the amount of$150,000 from the OGWS Transmission Pipeline Fund or the Equipment Rental Fund to the General Fund to cover short term cash flow needs in anticipation of property tax collections. In addition, in March 2010 the City Council authorized loans from the OGWS Transmission Pipeline Fund for park facilities in the amount of$185,570 and for Golf Course improvements in the amount of$125,000. In April 2012, City Council authorized an interfund loan from the Transmission Line Replacement Fund to the General Fund in the amount of$100,000 for the purpose of startup funding for the Main Street excise tax credit program. The City Council also authorized up to a million dollar interfund loan from the OGWS Transmission Pipeline Fund for interim financing of the federally mandated water treatment plant in May of 2013. 13 The following table displays interfund loan activity during 2013: Borrowing Lending Balance New 2013 Balance Fund Fund 1/1/2013 Loans Repayments 12/31/2013 Golf Bldg 199 417 $ 83,508 $ 83,508 $ - Park land 199 417 $ 185,571 $ 185,571 $ - Maint St 10 417 $ 100,000 $ 33,287 $ 66,713 LT2 Wtr Project 415 417 $ - $ 161,250 $ 161,250 NOTE 13 —NEW PUBLIC ENTITY FORMED On September 08, 2009 the City of Port Townsend authorized the creation of a public corporation known as the Port Townsend Public Development Authority. A charter and bylaws were adopted for the entity, but no other activity took place in 2009. In September 2011 the Council amended the authority's charter to change the name to the Fort Worden Lifelong Learning Center Public Development Authority. Its purpose was amended to focus solely on the Park. NOTE 14—INTERLOCAL AGREEMENT WITH EAST JEFFERSON FIRE RESCUE On June 20, 2012 the city amended the agreement with East Jefferson Fire Rescue (District) to reimburse the district for the purchase of a third fire engine. The city will be paying the district a total of$392,080.77 (which includes interest). The payment schedule is as follows: Interest Principal YrTotaI 5/31/2013 $ 11,320 $ 11,320 5/31/2014 11,320 11,320 5/31/2015 9,883 177,199 187,082 5/31/2016 2,615 179,744 182,359 Tota I s $ 35,137 $ 356,943 $ 392,080 14 NOTE 15- SELF-INSURANCE The City of Port Townsend self-insures for unemployment through the State of Washington's Employment Security Department. When a former city employee files for unemployment with the State of Washington, the City of Port Townsend is direct-billed their portion of unemployment benefit costs. In 2013 the City of Port Townsend established an Unemployment Self-Insurance Fund. As of December 31, 2013 the fund had a balance of$15,000. NOTE 16—MANAGERIAL FUNDS To assist in managing the City of Port Townsend's finances, the city has established management funds for accounting purposes. These management fund activities are rolled into one fund for reporting purposes. The following funds include managerial fund activity that is reported as one fund: Water and Sewer Utility Fund General Government Capital Improvement Project Fund NOTE 17— OTHER POST EMPLOYMENT BENEFITS The City of Port Townsend has a commitment to pay for post-employment benefits for employees that belong to LEOFF 1. These benefits include medical insurance premiums, out-of pocket medical costs, dental and vision care. Five police retires received these benefits during the year and $42,726 was paid out for those benefits. NOTE 18- CONSTRUCTION COMMITMENT The City of Port Townsend has an active construction project as of December 31, 2013. The project is the Long-Term Water Treatments Facility. At year-end the city's commitments with contractors are as follows: Project Spent to Date Remaining Contract LT2 Water Treatment Facility Design I $ I $ 294,916.75 15 NOTE 19-PRIOR YEAR CORRECTION During project reconciliation for the bond funds, it was discovered that the water line replacement during Madison Street project from prior years had been incorrectly charged to General Government Capital Project Fund, instead of the Utility Construction Fund. A prior year correction in the amount of$84,757 was made to both funds in 2013. NOTE 20- SIGNIFICANT EVENT In July 2013, the City of Port Townsend and the Port of Port Townsend concluded a property exchange whereby the City received approximately twenty acres of park land in exchange for City Dock and Union Wharf. Part of the agreement it also stated that the Port would maintain its own stormwater system and the City of Port Townsend would discontinue billing stormwater fees to the Port of Port Townsend. 16 MCAG N0. 0364 City of Port Townsend STATEMENT C-4 FUND RESOURCES AND USES ARISING FROM CASH TRANSACTIONS For the Year Ended December 31,2013 11 n 111 11111 30810 Beg Fund Bal-Reserved 3,021,466 0 0 0 30880 Beg Fund Bal-Unreserved 4,649,205 445,703 281 88,672 38800/58800 Prior Period Adjustments, net 0 0 0 0 310 Taxes 10,177,199 5,049,691 0 39,689 320 Licenses&Permits 254,146 253,665 0 0 330 Intergovernmental Revenues 2,494,063 225,063 0 0 340 Charges for Goods and 6,998,846 256,354 0 0 Services 350 Fines& Penalties 83,975 75,170 0 0 360 Miscellaneous Revenues 240,487 11,041 277 106 Total Operating Revenues: 20,248,716 5,870,984 277 39,795 510 General Government 1,849,146 907,565 0 0 520 Public Safety 4,936,610 2,742,435 0 0 530 Utilities 4,381,043 0 0 0 540 Transportation 980,191 0 0 0 550 Natural and Economic 862,656 654,188 0 0 Environment 560 Social Services 4,344 0 0 0 570 Culture And Recreation 2,027,711 18,932 0 0 598 Intergovernmental Payments 0 0 0 0 Total Operating Expenditures: 15,041,701 4,323,120 0 Net Operating Increase(Decrease): 5,207,015 1,547,864 277 39,795 370, 380, 395, 398 Other Financing Sources 497,539 0 0 0 391-393 Debt Proceeds 1,351,897 0 0 0 397 Transfers-In 2,069,041 0 0 0 Total Nonoperating Revenues: 3,918,477 0 580, 596, 599 Other Financing Uses 312,689 33,959 0 0 591-593 Debt Service 1,525,586 0 0 0 594-595 Capital Expenditures 6,132,837 12,473 0 0 597 Transfers-Out 2,050,854 1,577,803 0 0 Total Nonoperating Expenditures: 10,021,966 1,624,235 0 Increase(Decrease) in Cash and Investments -896,474 -76,371 277 39,795 50810 End Fund Bal-Reserved 1,740,770 0 0 0 50880 End Fund Balance-Unreserved 5,033,431 369,334 558 128,468 The accompanying notes are an integral part of this Statement. 17 zMazzlim= 30810 Beg Fund Bal-Reserved 0 0 0 0 30880 Beg Fund Bal-Unreserved 43,344 149,694 71,571 39,707 38800/58800 Prior Period Adjustments, net 0 0 0 0 310 Taxes 509,521 967,644 366,680 2,208,291 320 Licenses&Permits 231 0 0 0 330 Intergovernmental Revenues 189,880 10,619 0 0 340 Charges for Goods and 100 0 0 0 Services 350 Fines& Penalties 0 8,805 0 0 360 Miscellaneous Revenues 3,826 3,914 0 0 Total Operating Revenues: 703,558 990,982 366,680 2,208,291 510 General Government 0 0 30,619 0 520 Public Safety 0 0 0 2,194,175 530 Utilities 0 0 0 0 540 Transportation 515,729 0 0 0 550 Natural and Economic 0 0 208,468 0 Environment 560 Social Services 0 0 0 0 570 Culture And Recreation 0 869,682 0 0 598 Intergovernmental Payments 0 0 0 0 Total Operating Expenditures: 515,729 869,682 239,087 2,194,175 Net Operating Increase(Decrease): 187,829 121,300 127,593 14,116 370, 380, 395, 398 Other Financing Sources 0 7,563 0 0 391-393 Debt Proceeds 0 0 0 0 397 Transfers-In 0 0 0 0 Total Nonoperating Revenues: 7,563 580, 596, 599 Other Financing Uses 0 0 0 0 591-593 Debt Service 0 0 0 11,320 594-595 Capital Expenditures 1,420 80,968 0 0 597 Transfers-Out 184,870 45,187 97,718 0 Total Nonoperating Expenditures: 186,290 126,155 97,718 11,320 Increase(Decrease) in Cash and Investments 1,539 2,708 29,875 2,796 50810 End Fund Bal-Reserved 0 0 0 0 50880 End Fund Balance-Unreserved 44,882 152,402 101,446 42,504 The accompanying notes are an integral part of this Statement. 18 , t i S l S I I I II .ull lip I I��i u u I I III ul�� «<���iU II II I�III YI.I�u YYpppppp �� �� ���� pp` �� pp pp pp�::pppppp ��pppp IIII�IIII���IIIII��� II� � �IIIII�I � �II��I� �IIII�II� � IIII�� IIII�IIIIIIIII�IIII� � �IIIII�II �III�IIIIIIIII� , 30810 Beg Fund Bal-Reserved 0 0 0 0 30880 Beg Fund Bal-Unreserved 3,925 129,043 941,793 27,356 38800/58800 Prior Period Adjustments, net 0 0 0 0 310 Taxes 6,235 0 0 634,260 320 Licenses&Permits 0 0 0 0 330 Intergovernmental Revenues 0 13,050 0 0 340 Charges for Goods and 0 0 0 95,463 Services 350 Fines& Penalties 0 0 0 0 360 Miscellaneous Revenues 0 224 1,600 17,942 Total Operating Revenues: 6,235 13,274 1,600 747,665 510 General Government 0 0 0 319,254 520 Public Safety 0 0 0 0 530 Utilities 0 0 0 0 540 Transportation 0 0 0 0 550 Natural and Economic 0 0 0 0 Environment 560 Social Services 4,344 0 0 0 570 Culture And Recreation 0 0 0 1,139,097 598 Intergovernmental Payments 0 0 0 0 Total Operating Expenditures: 4,344 0 1,458,351 Net Operating Increase(Decrease): 1,891 13,274 1,600 -710,686 370, 380, 395, 398 Other Financing Sources 0 0 123,656 1,560 391-393 Debt Proceeds 0 0 0 0 397 Transfers-In 0 0 0 976,000 Total Nonoperating Revenues: 123,656 977,560 580, 596, 599 Other Financing Uses 0 0 0 271,527 591-593 Debt Service 0 0 0 0 594-595 Capital Expenditures 0 0 0 56 597 Transfers-Out 0 0 0 276 Total Nonoperating Expenditures: 0 271,859 Increase(Decrease) in Cash and Investments 1,891 13,274 125,256 -4,985 50810 End Fund Bal-Reserved 0 0 0 0 50880 End Fund Balance-Unreserved 5,816 142,317 1,067,049 22,373 The accompanying notes are an integral part of this Statement. 19 i MESS IIII»11i. lil Iliui.titi�Illil �Il�i���i�I I I >> n I n,1 I I l .. � 30810 Beg Fund Bal-Reserved 0 0 3,021,466 0 30880 Beg Fund Bal-Unreserved 27,533 425,039 884,559 384,789 38800/58800 Prior Period Adjustments, net 0 84,757 -84,757 0 310 Taxes 99,823 295,365 0 0 320 Licenses&Permits 0 0 250 0 330 Intergovernmental Revenues 0 1,233,970 821,481 0 340 Charges for Goods and 0 0 4,398,120 521,091 Services 350 Fines& Penalties 0 0 0 0 360 Miscellaneous Revenues 541 144,060 49,399 557 Total Operating Revenues: 100,364 1,673,395 5,269,250 521,648 510 General Government 603 0 416,522 0 520 Public Safety 0 0 0 0 530 Utilities 0 0 3,164,664 418,703 540 Transportation 0 0 0 0 550 Natural and Economic 0 0 0 0 Environment 560 Social Services 0 0 0 0 570 Culture And Recreation 0 0 0 0 598 Intergovernmental Payments 0 0 0 0 Total Operating Expenditures: 603 3,581,186 418,703 Net Operating Increase(Decrease): 99,761 1,673,395 1,688,064 102,945 370, 380, 395, 398 Other Financing Sources 0 406 363,465 0 391-393 Debt Proceeds 0 0 1,351,897 0 397 Transfers-In 1,009,391 58,650 25,000 0 Total Nonoperating Revenues: 1,009,391 59,056 1,740,362 580, 596, 599 Other Financing Uses 0 0 7,203 0 591-593 Debt Service 1,134,391 0 379,875 0 594-595 Capital Expenditures 0 1,603,725 3,704,141 239,858 597 Transfers-Out 0 145,000 0 0 Total Nonoperating Expenditures: 1,134,391 1,748,725 4,091,219 239,858 Increase(Decrease) in Cash and Investments -25,239 -16,274 -662,793 -136,913 50810 End Fund Bal-Reserved 0 0 1,740,770 0 50880 End Fund Balance-Unreserved 2,295 493,521 1,417,705 247,875 The accompanying notes are an integral part of this Statement. 20 � � 1 1 IIII Ili»i III 111111111 .YI III IIII II 1 I� U Itl n,1� I 1 t m � 1.l1. ..441 lilil I u I Yu 111 .1111. 40111u n,1 I II����IIIIIIIIIIIIII��IIIIIIIIIIIIIII�II�II �� � � � ���� IIIIIII��IIIIII��II��III�IIIIIIIIIIIIIIIIIIIIIIII�����������) uIIIIII�IIIIII�II�III�uIU�IIIIu�Yu��mII�IIIIO�I�IIIIIlu16�I�Yll�lllll��lulu�44�� 30810 Beg Fund Bal-Reserved 0 0 0 0 30880 Beg Fund Bal-Unreserved 955,682 29,535 979 0 38800/58800 Prior Period Adjustments, net 0 0 0 0 310 Taxes 0 0 0 0 320 Licenses&Permits 0 0 0 0 330 Intergovernmental Revenues 0 0 0 0 340 Charges for Goods and 892,999 286,549 533,170 15,000 Services 350 Fines& Penalties 0 0 0 0 360 Miscellaneous Revenues 4,934 0 2,066 0 Total Operating Revenues: 897,933 286,549 535,236 15,000 510 General Government 174,583 0 0 0 520 Public Safety 0 0 0 0 530 Utilities 0 295,554 502,122 0 540 Transportation 464,462 0 0 0 550 Natural and Economic 0 0 0 0 Environment 560 Social Services 0 0 0 0 570 Culture And Recreation 0 0 0 0 598 Intergovernmental Payments 0 0 0 0 Total Operating Expenditures: 639,045 295,554 502,122 Net Operating Increase(Decrease): 258,888 -9,005 33,114 15,000 370, 380, 395, 398 Other Financing Sources 889 0 0 0 391-393 Debt Proceeds 0 0 0 0 397 Transfers-In 0 0 0 0 Total Nonoperating Revenues: 889 580, 596, 599 Other Financing Uses 0 0 0 0 591-593 Debt Service 0 0 0 0 594-595 Capital Expenditures 490,196 0 0 0 597 Transfers-Out 0 0 0 0 Total Nonoperating Expenditures: 490,196 Increase(Decrease) in Cash and Investments -230,419 -9,005 33,114 15,000 50810 End Fund Bal-Reserved 0 0 0 0 50880 End Fund Balance-Unreserved 725,263 20,530 34,093 15,000 The accompanying notes are an integral part of this Statement. 21 MCAG N0. 0364 City of Port Townsend STATEMENT C-5 FIDUCIARY FUND RESOURCES AND USES ARISING FROM CASH TRANSACTIONS For the Year Ended December 31,2013 K K u I�tt ItiUI iii 1 I Imi .�tillflll u,. 1 h ii .. 1 308 Beginning Cash and 402,811 66,464 264,869 32,978 Investments 388 and 588 Prior Period Adjustments, net 0 0 0 0 310-360 Revenues 49,386 0 34,356 0 380-390 Other Increases and Financing 65,001 6,816 0 58,185 Sources 510-570 Expenditures 78,483 0 71,681 0 580-590 Other Decreases and 95,514 2,814 0 74,512 Financing Uses Increase(Decrease) in Cash and Investments -59,610 4,002 -37,325 -16,327 508 Ending Cash and Investments 343,201 70,466 227,544 16,651 io ll � m fi 11 IIQ II( 308 Beginning Cash and 2,494 36,006 Investments 388 and 588 Prior Period Adjustments, net 0 0 310-360 Revenues 3 15,027 380-390 Other Increases and Financing 0 0 Sources 510-570 Expenditures 0 6,802 580-590 Other Decreases and 0 18,188 Financing Uses Increase(Decrease) in Cash and Investments 3 -9,963 508 Ending Cash and Investments 2,497 26,043 The accompanying notes are an integral part of this Statement. 22 6 Cl O O O O O O O Ln O co � r" al O mr;°� tiiuuuh O O O GO (0-1 O -1 Cl t.0 -1 -1 GO O O O O Ln O Ln Ln Ln N M M 7 U 9mi O O N M I� O CD O M O O O +--i N Ln I1 Ln r� CD M M O ,--1 Ln N M � � � ,�W''lill ''ryll n M Ln � O O N N O u") GO u") t.p N u") 'noie" O O r-, O +--1 +--1 Cl I" O Ul O O O O O I. n Ln N N ,-i Lr)Vi R�lli O co `r' ° O !�orv" 00 "!!4 L) dRfii M M M M M O N O O O O O n O O O M O (71 O O O O O GO r� M O M O t.0 al -q M O O O 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