Press Alt + R to read the document text or Alt + P to download or print.
This document contains no pages.
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 O O O N M +--i � O �
Ul O O O N Lr) ^ Lf) I*l O n n n O
N mi N O Zo al M N -q Ln la +q al la la
C ' �IIIIIII �d�0 -q Ln r\ i- M i- LM 1-4 Ul N � � � N �
3 — p _0
E � cYi Lri aj
ra Qui I�
� w 0 Ili°R'dc �' �
O
L -a
O N N +�
L 0 C M O O Ln t.a Vf 00 M 00 al ,--1 N M O Ly
W N N N M M N +--1 C +--1 N -q -q N N N
O L i a�u O O O O O O O O O O O O O tf
U f0 N N N N N N N N N N N N ro
fC I-q
9^� cm M ro
���1u1 N N N N - M �
N �
a--i .0 ,--� N
p 4�
i �pllll
LO
Vu„III �IIIII�' L ro
ro
_ Q)
l0 fa
0
m �
_0 ro U
C � C O 7 fa N N Q)
>
m J C: > (n (n J N
4' > N 4�
O Q N +, ro ro ro ro ro +�
E J J J J J
C Q 4- N LL LL LL LL LL
"Hole° O O O N c C fa f0 > > > > > f0
m m m a w aj 3: 3: a a a a a-
m co O N (�e O" co co ON 1-4 N N
a O O � q , i E r� LL ON ON O O 1-4 N
O O O O W U ON 0 al al O O O a�
O
N
M ?,6 O O O O O O
+--i +--i +--i +--i +--i al O N M M M M M M al
uUlllll�!I O Ln Ln Ln Ln Ln Ln ;� Ln �a �a �a �a t.a t.a �
�IUI 4 N N N N N N fa N N N N N N N >-
pl f o
Q
O O E
z 'iUiii f o 7 O
U
(7 i C fo
Q �IIIIIIIIIII N > N
Qj Qj �
III III I
co o ,--1 N N
CD �T���G' timu°h ,u� l0 I-. N 1A N
N Qfi� ��il M N cc O
Al � � c' rn N I�
VIII
ON N 74 74
mr rl N
U gym' rl
Ln
h uo
N co 74 M
gjA M N N C1
t n N
IIIi O rl
00 N
N O M rl tD
M n 00 ON P%
IA IA
rl 01
00 N N
1 1
rl N
M
O
N
aor i0�ifii 00 O t.0 N 0%
t.0 t.0 00 M
O
C �uuuliui �d�0 ON L
N
Qj
C ra v M N U
H -i
0 An
d 0 c -1 t.0 in in 4-- cv
N $8 M M C G�
C � " O O rt1 r
� W,nlB� ro
>- m9�1111
N �� '� i
U � �u; -J Q)
L° 1111 c
�� d �+
ro
d Q)
Y d ro
J C
N
C - ~ 4Qj
ro a
J LL N (O
LL E
(n ro U
noie° (n C:a O Q c
i N N Q iC
xmsl
E N
L
NO NO u 4�
O
N
N N N 0
00 00
O �
ii _0)
M M
mumr
N N N �
C
fo
Q
O E
Z cif VO
Q fo
III
u lVllii�ilil� Qj
IIIIIIIII
� a
'a
s
U
� �� rl � 74
-1 O
"niiUn O , i M I�
-1 00 � N 06
O O ul � Lr O
1A
N �C 00 ,1 N P% N
UIIIIII
mm�
L(1 ,1
in O O
d O i
M
W "Svl ,1 cv ,-i
CO 2
W W d M N
� N
U
70 a M
Ln
� J L
~ N
0 3
Z ii
c a u
0.
W 'd ra
a Q a
O W 'IiBumC
� L UIIIIIII�II � ro
U fi Cl) f
_0
W �
a�mm � ,12 Cl)
J �84tititi51 U) 2
41
° L
W 0
= LL
c1
cn
o E
a fo
w
a u a�
p - n o
+ro_+ Q i O
4-
a O (O L (n
O U =
a + .
M
Ln
U) N N N
O 031 > 4-+ 4- 4-
170 170 170 a)
Ln Ln Ln ro
C
ro
o �1 4- 0 �1
031
(31
Q �.niiiU... 4- (O 'fo
�l� Ln IM V
N
N
pl
(O
d
O N d1
1n N 74 Cl
, i
O O Ln
tiUulj N rl
� Rt Cl
i�Q lUa
O O O
6 'G
I@u�llAll^"ilil��l
19 M
IIIIIIIIIIII I {/� � L
auuou
I"niiiii� (9
�r llllm
VIII"¶a'....��
LL
a
N
i4..!
luul
I'llli.11llllllll
fo
�mllh'I
�UR4tititi51
V_
7
d
i
C
O
� O
N
f
� a Ln
= 70
LL N
fo
o
V
In O i yO
��911111111 L U) L
O
Q
IIIIIIIIIII�I� r' ~ �
2
0
c
� � n
r� Lr) r1i o Lr) Lr)
2 % r o q
2 0 / \ * o
� � 3
■
s
® u % q � E
e � o
� L- k q 00 / �
c
■ 04
x U.
/ /
U) � o
mL-
0
U.
« �
2 \ % $ h Qr
w kw L Ln � Lb CD / �
D « � « I q 2
w § G ro � rq
% � z / g / q ƒ 2
\
LL
o W o ± \
0 LU ■ ON c o o Lr) Lr) SQ
D ƒ ƒ R q %q y
« k / % / / \ C t
u. E ^ R
p U2
O Z 2 ƒ
� @ §
- /
LL ■ u 2 a)
O s E g 7� E w cn fo
L @ 7 » = § \ §
cm � § 0 z o � c o 0 e
� 0 u � E cctO roa- Ea ro 3
p a � z < o LU » u � a .� EE � / %
E 2 § c 2 2 2 E U) @ § U E 2 \
2 ■ « � u z4- uur u z © f
U © E u § / E a z u u c E § : c a ƒ
2 ■ $ 2 g G @ / k " " = \ 0 § % / � § y
LL @w aR 3 « 2a- a- a- a- Ug @@at ± U 2
2
b )
® \ t Ln� E
E u u 70 t u
$ Q) \o u a O £0 R O O
* E k E u E u R � o / b / -
ro § o � 04a c o : -0 ® ro 0
� � ' R / R / § °
'E -0 « § � o
u 2 § -J > c c
C \ kb kb [ f R0R 2 / �/
Q« / / 77 77 u % � tA a) R
GE GE bo \ / \ � � / 0 0
g 2 t 2 t u : u 29 " fo y y u
« ° 2 G R G R u g = � R ro G a c c ro
U ■ s k � 2u 2u Fy § Eue 2 � @@ ±
2: LL 2w 5c 5c Own 2c « LL p
7 * E o * r� _ r� c Ln Ln
ED � © $ o L q Ln �
o � �
- / A % Ln \ % m q
0 0 0
7 * c o * _ c Ln Ln
% � © $ o \ L q Ln �
o � �
- / A % Ln \ % m q
Lr) c Ln :L- E 4 �/ $ co l g C � k rr)r,j
cs k -
ON r1i � $ G G
% % ® U G $ © q cl 2 2
R /
@ @ 9 / / L
LL. LL
U L c U ƒ ƒU g
\
CD \ � / C k
. . . . . . y
C) h % $ $ % t
R
�
�
_0 � 0 40- 7 7 § §
§ § ' 3 © 3 © 2
0 0 § 7 / 7 / cn
k k [ & k & k / §
2f CL � \ \ / / 2 / / 2 / 3
� ) 22 a 2 / oE / oE 6 6 § k
a & a ƒ � 22 � IS 2 � 2 2 0
a 0) a k 0 ƒ 7 ° 7 ° ] ] §
7 / 7 / U) 3 u � ƒ u � ƒ f f
2
» » »
u
y y f /
§ § f «
k t k t / E R u E ƒ / / / ƒ
t u t u u c t - k E t E -0 cn -0 cn -0 �
yE y E a � c c : c : c : c : z
Uk) g 0 :5\ o 2 § �© § �© �y§
.$
@ E\ t \ t ? E y 9 R 9 0 0 4- 0 c c E E E
© © L ® LU ® ° ° ° ° o
2 2 I I I E o o /z
/ � § k \ k \ b b b\ / \ / / $ $ $
/ k n � 2 \ a) R 0 c � / 3: t3 t3 t3 k J c t @ a b u@ u@ @ c
E
p k0 p 0k t@k $ b / b / 2 E E E u
ro U) z z z c z 3 u u ° u ° t 'E t E t E u ro
70 � § § � § § 2 % § y 7 ° $ % ° $ % R g R g R g
ƒ �% % U- d \ b % 5 ƒ 0a ƒ 0a- m o ƒ o ƒ o ƒ ƒ
% Gi 74
N Ln
MD 2
�
0 2
�
�
n
n
ƒ RT cl
n RT o
Ln MD �
�
¢ P% g
_ � ■
Q
P4 c
LU cl x ƒ
LL _0
U u m
■ U e
2 4-
C� 6
@
% ■ tf
LL
2 �
/
/ §
§
/% \
k
/ �
0
2
» �
p g
ƒ U)
/
C C /
!E u
0
b $ ƒ
� m E
E o
t 8
0 fo
0.a) U ±
w
§
E
/ CL
] §
§ 2
� - o
4
/ &
� ( -
§
ƒ § / §
/ 2 & /
\ � \ \ \ /
u
E \
w
\ / / \
w IL
o / \
w g §
? _ �
® /
0
2 � %
\ /
p CL
CL
E \
c 0 \ /
0 (n U
§
\ / ( )
E 0 )
j Wƒ \ \ /
3 w 3 k 6\