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Audit - 2010 COMPREHENSIVE ANNUAL FINANCIAL REPORT OF CITY OF SALINA, KANSAS 300 West Ash Street P.O. Box 736 Salina, Kansas 67402-0736 For the Fiscal Year Ended December 31, 2010 Prepared by Department of Finance and Administration of City of Salina, Kansas CITY OF SALINA, KANSAS Comprehensive Annual Financial Report For the year ended December 31, 2010 TABLE OF CONTENTS Page INTRODUCTORY SECTION Letter of Transmittal i - iv Organizational Chart v List of Principal Officials vi FINANCIAL SECTION Independent Auditor’s Report on the Basic Financial Statements 1 - 2 Management's Discussion and Analysis 3 - 13 Basic Financial Statements: Government-wide Financial Statements Statement of Net Assets 14 Statement of Activities 15 Fund Financial Statements Balance Sheet - Governmental Funds 16 Reconciliation of the Total Governmental Fund Balance to Net Assets of Governmental Activities 17 Statement of Revenues, Expenditures, and Changes in Fund Balance - Governmental Funds 18 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance with the Government-Wide Statement of Activities 19 Statement of Net Assets - Proprietary Funds 20 Statement of Revenues, Expenses, and Changes in Fund Net Assets - Proprietary Funds 21 Statement of Cash Flows - Proprietary Funds 22 - 23 Statement of Assets and Liabilities - Agency Funds 24 Notes to the Basic Financial Statements 25 - 49 CITY OF SALINA, KANSAS Comprehensive Annual Financial Report For the year ended December 31, 2010 TABLE OF CONTENTS - CONTINUED Page FINANCIAL SECTION - CONTINUED Required Supplementary Information Schedule of Funding Progress and Schedule of Employer Contributions 50 Schedules of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (Non-GAAP Basis) General Fund 51 - 53 Flood and Drainage Improvement Fund 54 Tourism and Convention Fund 55 Special Gas Fund 56 Bicentennial Center Fund 57 Combining Statements and Individual Fund Schedules Combining Statements - Nonmajor Funds Fund Descriptions 58 - 59 Combining Balance Sheet - Nonmajor Governmental Funds 60 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 61 Combining Balance Sheet - Nonmajor Special Revenue Funds 62 - 63 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Special Revenue Funds 64 - 65 Combining Balance Sheet - Nonmajor Permanent Funds 66 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Permanent Funds 67 Individual Fund Schedules of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (Non-GAAP Basis): Business Improvement City Fund 68 Neighborhood Park Fund 69 Special Parks and Recreation Fund 70 Special Alcohol Fund 71 Sales Tax Capital Fund 72 Sales Tax Economic Development Fund 73 Fair Housing Fund 74 Arts & Humanities Fund 75 Debt Service Fund 76 Solid Waste Disposal Fund 77 Water and Sewer Fund 78 Sanitation Fund 79 Golf Course Division Fund 80 Risk Management Fund 81 Workers’ Compensation Fund 82 CITY OF SALINA, KANSAS Comprehensive Annual Financial Report For the year ended December 31, 2010 TABLE OF CONTENTS - CONTINUED Page FINANCIAL SECTION - CONTINUED Individual Fund Schedules of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (Non-GAAP Basis) – Continued: Health Insurance Fund 83 Central Garage Fund 84 Information Systems Fund 85 Internal Service Fund Descriptions 86 Combining Statement of Net Assets - Internal Service Funds 87 Combining Statement of Revenues, Expenses, and Changes in Net Assets - Internal Service Funds 88 Combining Statement of Cash Flows - Internal Service Funds 89 - 90 Fiduciary Fund Descriptions - Agency Funds 91 Combining Balance Sheet - Agency Funds 92 Combining Statement of Changes in Assets and Liabilities - Agency Funds 93 Schedule STATISTICAL SECTION Net Assets by Component - Last Eight Years 1 94 Changes in Net Assets - Last Eight Years 2 95 Fund Balances, Governmental Fund - Last Eight Years 3 96 Changes in Fund Balances, Governmental Funds - Last Eight Years 4 97 Tax Revenue by Source, Governmental Funds - Last Eight Years 5 98 Assessed and Estimated Actual Value of Taxable Property – Last Ten Years 6 99 Direct and Overlapping Property Tax Rates – Last Ten Years 7 100 Principal Property Tax Payers 8 101 Property Tax Levies and Distributions 9 102 Direct Sales Rate by Taxing Entity 10 103 Water Sales by Class of Customer 11 104 Ratio of Outstanding Debt by Type 12 105 CITY OF SALINA, KANSAS Comprehensive Annual Financial Report For the year ended December 31, 2010 TABLE OF CONTENTS - CONTINUED Schedule Page STATISTICAL SECTION - CONTINUED Ratio of Net General Bonded Debt Outstanding 13 106 Direct and Overlapping Governmental Activities Debt 14 107 Legal Debt Margin 15 108 Pledged Revenue Coverage 16 109 Demographic and Economic Statistics 17 110 Principal Employers 18 111 City Government Full Time Employees by Function/Program 19 112 GOVERNMENTAL AUDIT SECTION Schedule of Expenditures of Federal Awards 113 Notes to Schedule of Expenditures of Federal Awards 114 Schedule of Findings and Questioned Costs 115 - 116 Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with “Government Auditing Standards” 117 - 118 Independent Auditor’s Report on Compliance with Requirements Applicable to Each Major Program and on Internal Control over Compliance In Accordance with OMB Circular A-133 119 - 120 INTRODUCTORY SECTION i DEPARTMENT OF FINANCE TELEPHONE (785) 309-5735 AND ADMINISTRATION FAX (785) 309-5738 Rodney Franz, Director TDD (785) 309-5747 300 West Ash, P.O. Box 736 E-MAIL rod.franz@salina.org Salina, Kansas 67402-0736 Website: www.ci.salina.ks.us October 1, 2011 To the Citizens of the City of Salina, Kansas: The Comprehensive Annual Financial Report of the City of Salina, Kansas (the "City") for the year ended December 31, 2010, is hereby submitted. The City’s Finance Department prepared the report. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of all various funds and account groups of the City. We believe that all disclosures necessary to enable the reader to gain an understanding of the City's financial activities have been included. Report Format The Comprehensive Annual Financial Report is presented in three sections: Introductory, Financial and Statistical. The introductory section includes a description of the City, including services provided, and explanation of the City’s accounting system and budgetary controls, and a brief discussion of the City’s economic condition and outlook. The City's organizational chart is also included to assist the reader in understanding the structure of the City. The financial section includes the Independent auditor’s report, Management’s discussion & analysis, Government wide financial statements, Fund financial statements, Notes to the financial statements, and Individual and combining statements and schedules. The statistical section includes selected financial and demographic information, generally presented on a multi-year basis. The reader is specifically directed to Management’s Discussion and Analysis (MD&A) which immediately follows the independent auditor’s report. MD&A provides a narrative explanation and overview of significant features and trends reflected by data in the financial statements. Accounting Systems and Internal Controls A critical part of the control system is the City’s comprehensive Budgetary and Financial Policies, which establish guidelines for budgetary and financial practices. The Budgetary and Financial Policies are reviewed by the City Commission and updated each year as a part of the budget process. City staff is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft or misuse and that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits require estimates and judgment by ii management. The objective of budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City Commission. The legal level of budgetary control is maintained at the Fund level, in accordance with State Statutes. However, management control is maintained at the department level. The City uses an encumbrance accounting system, in which estimated purchase amounts are recorded prior to the release of purchase orders to vendors. Open encumbrances are reported as reservations of fund balance at December 31, 2010 in the general fund and the special revenue funds. Various internal compliance procedures are implemented to insure proper implementation of the budget as well as to maintain a degree of accountability for both revenues and expenditures. Independent Audit Kansas Statutes Annotated 75-1122 requires an annual audit of the books of account, financial records and transactions of all administrative departments of the City by independent certified public accountants selected by the City Commission. This requirement has been complied with and the auditor's opinion has been included in this report. Profile of the Community The Town of Salina was organized in 1858 under the Town and Village Act in the State of Kansas, and became a City of the First Class on July 9, 1920. The City has had a Commission-City Manager form of government since 1921. The Commission is comprised of five members elected at large. Each year the commission chooses one member to act as Mayor. The City Manager is appointed by the Commission, and acts as it’s primary agent in accordance with state statute. Other city officers and employees are appointed by the City Manager. The current population of the City is 47,707. The reporting entity includes the City of Salina as well as two discretely presented component units, both proprietary fund types. The Salina Airport Authority operates the Salina Municipal Airport and Airport Industrial Center, and the Salina Housing Authority administers public housing programs within the City of Salina. In addition, the City of Salina participates in two joint ventures with Saline County, the Salina - Saline County Board of Health and the City-County Building Authority. This report includes all funds and account groups of the City. The City provides a full range of services including police and fire protection, development services, construction and maintenance of streets, drainage facilities and other infrastructure; recreational activities and cultural events; emergency medical services and convention facilities. In addition to general government activities, the City also provides water, wastewater, sanitation, and solid waste services; therefore, these activities are included in the reporting entity. Economic Outlook and Strength The City benefits from its location at the junction of Interstate Highways 70 and 135. This convenient location has drawn numerous national and regional companies to open manufacturing or distribution centers in or adjacent to the community. Such companies include Pepsi-cola, Exide Battery, Philips Lighting, ElDorado Bus, and Schwans. Currently manufacturing, retail trade, and service industries rank as the three primary employers in the City. No single industry is dominant. The City of Salina retains its position near the top of a list of first class cities with respect to ‘trade pull factor.” The pull factor measures the degree to which a city or county area captures retail trade from outside the jurisdiction. A pull factor of greater than 1 indicates that a city is attracting more retail trade from outside the city/county than it is losing to other counties. It is apparent from this that Salina continues to serve as a regional economic hub in 2010. iii Major Initiatives In November, 2008, voters elected to increase the ¼ cent tax to .40 cent, and extend the sunset for an additional ten years. until March 31, 2018. Eighty-five percent (85%) of the tax is to be used for capital improvements and tax stabilization. The remaining 15% is to be used for economic development programs. In 2010, a new $11 million Aquatics facility, including modern features such as a zero depth entry wave pool, a lazy river, multiple water slides, and a competitive lap pool was completed. Several major street improvement projects (South Ohio extension, and South 9th reconstruction) representing an investment of more than $6,500,000 were also completed. Solid Waste disposal is becoming a stable operation, with 80,000 to 90,000 tons being disposed of each year. The community remains committed to recycling and resource conservation, with several initiatives that began in 1997, including a yard waste recycling and composting program in addition to continuing a mulching mower rebate program. The community currently has about 4,700 yard carts placed to encourage recycling of yard waste as an alternative to disposal. A Pilot residential recycling program was continued in 2004. The curbside recycling program was converted to a permanent service in 2005, with 900 households participating. Addressing fiduciary pressures generated by a recessionary economy has also been a challenge. The primary approach has been to reduce staffing through attrition, after careful evaluation of each vacancy. By the end of 2010, full time staffing has bee reduced from 511 to 479. Merit and cost of living adjustments also remain frozen. Capital Improvement Planning The City's Capital Improvement Plan (CIP) consists of two components. One component consists of “routine” capital—including vehicle and equipment replacement, technology replacement, building repair and improvement, routine pavement maintenance activity, utility system enhancements and similar items. The amount of funding for these projects may fluctuate based on needs and funding availability, however, planned amounts are allocated over a multi-year period. Source of funding for routine capital is current cash resources from the fund appropriate to the nature of the purchase. The second component of the CIP includes major projects that typically require issuance of bonds or notes, although these projects may also be supplemented with available cash and grant financing. The plan is updated each year after an extensive evaluation of the demands on future financial resources. The Capital Improvement program is scheduled for a major revision as the result of the sales tax to be used for that purpose. Construction Initiated*: 2011 2012 2013 2014 2015 General Fund 700,000$ 700,000$ 780,000$ 780,000$ 780,000$ Sales Tax* 2,693,146$ 1,720,000$ 1,795,000$ 1,730,000$ 1,555,000$ Flood and Drainage Fund 250,000$ -$ -$ -$ -$ Special Park Fund 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ Gas Tax Fund 1,300,000$ 1,300,000$ 1,300,000$ 1,300,000$ 1,300,000$ Solid Waste Fund 467,000$ 145,000$ 50,000$ 50,000$ 50,000$ Sanitation Fund 136,300$ 136,300$ 136,300$ 136,300$ 136,300$ Water & Wastewater Fund 6,400,000$ 4,500,000$ 4,500,000$ 4,500,000$ 4,500,000$ General Obligation Bonds 8,644,000$ 4,500,000$ -$ 1,600,000$ 3,400,000$ Revenue Bonds 16,120,000$ 4,150,000$ 4,810,000$ 4,000,000$ 25,350,000$ Other Sources 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ Total 36,860,446$ 17,301,300$ 13,521,300$ 14,246,300$ 37,221,300$ *The year a project is scheduled reflects the year that construction is initiated. Preliminary work (design, acquisition) may precede this date by one or more years, and permanent financing may not occur until one (or more years depending on project magnitude) subsequent to this date. iv Financial Policies The City has adopted a formal set of Budgetary and Financial Policies, addressing such items as fund balances, capital improvements, operating budgets, long term debt management, accounting, auditing and financial reporting, revenues, cash management and investments. Financial policies contribute to financial stability by: 1. Providing consistent guidance in decision making 2. Establishing appropriate levels of fund balances 3. Governing the use of one time or unanticipated resources 4. Providing a multi-year capital improvements process 5. Establishing responsibilities and deadlines for budget preparation 6. Providing for a balanced annual operating budget 7. Providing guidelines on the use of debt, including appropriate purposes and terms 8. Provide a linkage between capital improvement scheduling and long term debt management planning 9. Require annual audits and financial reporting in conformance with Generally Accepted Accounting Procedures 10. Require timely and regular interim financial reporting to the Governing body 11. Insure the safety of cash and near cash resources (timely collection of Accounts Receivable, etc.). Acknowledgments The preparation of the Comprehensive Annual Financial Report was made possible by the dedicated, professional advice and effort of the Lowenthal, Webb, and Odermann auditing team. A special thank you needs to be given to Valerie Gebhardt, City Accountant, who is responsible for much of the data assembly and reconciliation. Finally, preparation of this report would not have been possible without the support of the City Commission. Sincerely, Jason A. Gage Rodney Franz City Manager Director of Finance v vi FINANCIAL SECTION 1 LOWENTHAL, WEBB & ODERMANN, P.A.David A. Lowenthal, CPA Patricia L. Webb, CPA Audrey M. Odermann, CPA ——— Abram M. Chrislip, CPA Caroline H. Eddinger, CPA Grant A. Huddin, CPA Brian W. Nyp, CPA ——— Members of American Institute and Kansas Society of Certified Public Accountants CERTIFIED PUBLIC ACCOUNTANTS 900 Massachusetts, Suite 301 Lawrence, Kansas 66044-2868 Phone: (785) 749-5050 Fax: (785) 749-5061 Website: www.lswwcpa.com INDEPENDENT AUDITOR’S REPORT ON THE BASIC FINANCIAL STATEMENTS Mayor and City Commissioners City of Salina, Kansas We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City of Salina, Kansas, as of and for the year ended December 31, 2010, which collectively comprise the City’s basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express opinions on these basic financial statements based on our audit. We did not audit the financial statements of the Salina Airport Authority which statements reflect total assets of $55,005,376 as of December 31, 2010 and total revenues of $5,341,958 for the year then ended, and the Housing Authority of the City of Salina which statements reflect total assets of $7,858,003 as of June 30, 2010 and total revenues of $2,493,295 for the year then ended, which are discretely presented component units in the accompanying financial statements. Those financial statements were audited by other auditors whose reports thereon have been furnished to us, and our opinion, insofar as it relates to the amounts included for the Salina Airport Authority and the Housing Authority of the City of Salina is based solely on the reports of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, the “Kansas Municipal Audit Guide,” and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall basic financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, based on our audit and the reports of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business- type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City of Salina, Kansas, at December 31, 2010, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated September 28, 2011, on our consideration of the City of Salina’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. 2 Accounting principles generally accepted in the United States of America require that the management's discussion and analysis on pages 3 through 13 and the schedules of funding progress on page 50 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s financial statements as a whole. The introductory section, combining and individual nonmajor fund financial statements and schedules, and statistical tables as listed in the table of contents are presented for purposes of additional analysis and are not a required part of the basic financial statements. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and is also not a required part of the financial statements. The combining and individual nonmajor fund financial statements and schedules and the schedule of expenditures of federal awards are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying account and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. September 28, 2011 3 Management Discussion and Analysis This section of the report contains an overview and analysis of the City of Salina’s financial statements for the fiscal year ended December 31, 2010. The information contained here, as well as the information contained in the letter of transmittal, are intended to provide the reader of the financial statements with a well rounded picture of the City’s financial condition. Financial Highlights ♦ Net Assets increased by $612,000. Governmental Net Assets declined by $2,056,000, while Business Type Net Assets increased by $2,668,000. ♦ Activity in the construction accounts had a notable influence on the components of Net Assets, particularly in Governmental Activities. There, the amount invested in capital assets, net of related debt, increased by $11,028,000, while unrestricted net assets declined by nearly the same amount. This largely reflects the transactions related to Aquatics Center construction. ♦ Liabilities also increased substantially, due to the issuance of a $2,500,000 temporary note. Once again, this is a construction related transaction. ♦ In Business Type Activities, the Water and Sewer fund saw asset growth, despite increases in operating expenditures, due to good revenue production. ♦ Refunding activity in the Water and Sewer fund provided significant savings. ♦ Fund Balances declined significantly ($11,897,994). The majority of this was due to spend-down in the Capital Projects fund, which declined by $10,383,363 ♦ Economic conditions had a significant influence of General fund balances, which declined by $1,470,200. Economic conditions are reflected in a decline in sales tax, a slight decline in real estate values, a decline in motor vehicle taxes, and an increase in tax delinquency. ♦ Personal property taxes continued to decline as a result of the exemption of business equipment from the tax rolls. ♦ Investment revenues dropped significantly for the third year in a row. ♦ The unemployment rate increased from 5.7% to 6.4% ♦ Total General Fund revenues increased by $74,000, due largely to increases in service charge revenue ♦ General fund expenses increased, in large part due to separation pay and benefits. The Basic Financial Statements The basic financial statements of the City include the government-wide financial statements and the fund financial statements. The notes to the financial statements follow the basic financial statements, and are essential for the reader’s understanding of the financial statements. Other supplementary information, including the combining schedules for non-major funds and the budgetary comparison reports, are at the end of this report to provide additional information for the reader. Government-wide Financial Statements The government-wide financial statements present the results of the City’s operations using the accrual basis of accounting, the same basis as is used by private sector businesses. These statements focus on the long-term financial picture of the City as a whole The Statement of Net Assets reports all of the City’s assets and liabilities. Net assets, the difference between assets and liabilities, are an important measure of the City’s overall financial health. Net assets represent the total accumulated and unused resources available to the City for the purpose of providing services. Over time, the increases and decreases in net assets can be monitored to determine if the City’s financial position is improving or deteriorating. The Statement of Activities shows how the net assets have changed during the fiscal year. One unique feature of this statement is how it shows the revenues and expenses related to specific programs and how much of those programs were supported by the general taxes of the City. Since this statement is prepared on the accrual basis of accounting, all revenues and expenses are included, regardless of when cash is actually received. Both statements show the operations of the City broken down between governmental and business type activities. Governmental activities are the operations of the City generally supported by taxes, such as Public Safety (Police, Fire, and EMS), 4 Public Works, Public Health, and Culture & Recreation. Business-type Activities are operations of the City that are intended to recover a significant portion of their costs through user fees and charges. These include Water and Sewer, Refuse collection, the Golf Course, and operation of the City Solid Waste Facility. The government-wide financial statements include the Salina Airport Authority and Salina Housing Authority as discretely presented component units of the City. Note 1, item A in the Notes to the Financial Statements provides a more complete explanation of the relationship between these entities and the City of Salina. Fund Financial Statements The City uses three types of funds to manage its resources: governmental funds, proprietary funds, and fiduciary funds. A fund is a fiscal entity with a set of self-balancing accounts recording financial resources together with all related liabilities and residual equities and balances, and the changes therein. These accounting entities are separated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, or limitations. Governmental fund financial statements are prepared on a modified accrual basis. Under this basis, revenues are recognized when they become measurable and available, and expenditures are recognized when the related fund liability is incurred with the exception of long term debt and similar items which are recorded when due. The focus is on the short-term financial picture of the operations of the individual fund, rather than long-term citywide view provided by the government-wide statements. Major Governmental Funds are presented in individual columns, while Non-major Governmental Funds are aggregated into an “Other Governmental Funds” column. A combining statement for the Non-major funds is presented as supplementary information in the back of the report. The information presented in these statements can be compared to the governmental activities information in the government-wide statements. The reconciliation at the end of the fund financial statements details the relationship between the two types of financial statements. Proprietary funds fall into two categories: enterprise funds and internal service funds. All proprietary funds are prepared on the accrual basis of accounting, and are used to account for business-type activities. Enterprise fund statements present the same information that is in the government-wide statements for business-type activities, but in greater detail. The City of Salina currently operates four enterprise funds: Sanitation Collection, Solid Waste Disposal, Golf Course, and Water and Sewer. Internal Service funds are used to account for the cost of operations shared by various departments of the City. The city operates five internal service funds. Three of these are for self- insurance activity: Risk Management, Workers Compensation Reserve, and Health Insurance. The remaining two account for our Information Services activity and for the Central Garage operation. A combining statement for these internal service funds can be found in the supplementary information following the notes to the financial statements. Fiduciary funds are used by the City to account for resources held by the City for a third party. Agency funds are a special class of Fiduciary Fund in which liabilities always equal assets, and thus there are no net assets. The City of Salina operates nine Agency funds. Schedules for these funds may be viewed in the supplementary section of this report. Permanent Funds are used to report resources that are legally restricted to the extent that only earnings, not principal, may be used. Permanent funds operated by the City include the Citizenship Trust, Cemetery and Mausoleum Endowments, and the Tri-centennial Commission fund. Notes to the Financial Statements The notes to the financial statements are an integral part of the basic financial statements since they contain valuable additional information necessary for gaining a complete understanding of the City’s financial statements. Other Information In addition to the basic financial statements and the notes described above, this report also presents the general fund and major special revenue fund’s budgetary statements as required supplementary information directly following the notes to the basic financial statements. The combining statements for the non-major funds are shown after the required supplementary information. Finally, the statistical section includes selected statistical data about the City’s operations and economy. 5 The City as a Whole This section will identify, discuss, and analyze significant differences and trends that will enhance the reader’s understanding of the City’s financial position. Tax Base and Economy The City of Salina relies on three major groups of revenues to support it’s operations. Each of these revenue streams has a different revenue base. In declining order of magnitude, they are charges for service, sales taxes, and property taxes. Sales taxes and property taxes apply primarily to Governmental Activities, while charges for services apply to both Governmental (35%) and Business-type (65%) activities. Charges for Services account for about 48% ($34,757,000) of the City’s revenue stream. Charges for Service depend on both the rate that is set for the activity, as well as the volume of services provided. The following table illustrates service volume and rate adjustments for some of the more significant services for the year ending December 31, 2010. Description 2009 Volume 2010 Volume Change Rate Comments Golf Course: Rounds, 18 Hole 32,337 30,420 (1,917) 4% Increase Rounds, Par 3 4,150 3,707 (443) 4% Increase Annual Golf Members 60 33 (27) 4% Increase River Festival Gate Count 77,856 64,835 (13,021) No change BiCentennial Center - Attendance NA 130,000 Meals Served NA 18,031 Development Services - Inspections Performed 7,221 6,391 (830) No Change Permits Issued 2,900 3,031 131 No Change Finance/Administration - EMS Runs Billed 3,301 3,473 172 5% Increase Licenses Issued 1,296 1,296 Water Billings Issued 239,796 238,635 (1,161) Water Metered (in Billion Gallons) 1.82 1.97 0 Parks and Recreation - Kenwood Cove Attendance NA 119,000 New Facility in 2010 Youth Teams NA 164 Adult Teams NA 300 Special Pops Programs NA 109 Trips/Tours offered NA 31 Youth Tournament Teams 424 (151) Adult Tournament Teams 140 140 Municipal Court Annual Cases Heard - Public Works - Sanitation Customers 14,483 14,520 37 2 % Increase Landfill Tonnage 96,013 94,907 (1,106) $.50 per ton increase Street Cut and Excavation Permits 245 181 (64) Concrete Permits 152 155 3 Water and Wastewater - Water Treated (Billion Gallons) 2.10 2.30 0.20 5.5% Increase Wastewater Treated (Billion Gallons) 1.50 1.50 - 4.4% increase **In general, if not specified in the table, rates were adjusted an average of about 2% for most services. 575 6 Sales taxes are the next largest component of the revenue mix, providing 21% ($15,225,000) of the total revenues. This is a slightly smaller portion than 2009 (21%). The City receives a .90% City-wide sales tax, and also a portion of the County-wide 1% sales tax. Forty-four percent, (a rate of .4%) of the City-wide sales tax is required to be used for special purposes. The remaining .5%, along with the City portion of the Countywide tax is available for general purposes. Total revenue from the sales tax in 2010 was $ 15,225,000, up from $ 15,049,000 in 2009. This represents an increase of 11.7% in tax proceeds distributed to the City. However, this increase was attributable entirely to a partial year implementation of an additional special tax rate of .15%. The general City sales tax proceeds declined from $11,669,000 to $11,117,000, or 4.7%. This follows a 2.6% decline for 2009. A number of factors affect the sales tax. First are the regional and local economic conditions and relationships. These are reflected in the proceeds of the City-wide tax, which declined by about 2.6%. The City was unfavorably affected by the formula used to distribute the County-wide sales tax among participating jurisdictions (only Cities and the County participate, School and other special districts do not). The formula is based, in part, on the property tax efforts of each jurisdiction. Because the portion of the overlapping levy attributable to the City of Salina was decreased for 2010, the City’s allocated portion of the County-wide sales tax was increased from 62.5% in 2009 to 61.6% in 2010. Total Countywide taxes received in 2010 were approximately $6,394,000. The change in formula thus resulted in a shift of about $93,000 from the City of Salina to Saline County in 2010. On November 4, 2008, Salina voters approved an increase of the special purpose .25% tax to a .40% tax. The extended tax is to sunset March 31, 2018. The tax was also modestly re-purposed, for Capital and Economic Development purposes only. Property Taxes are the third major component of the revenue mix, accounting for 16% ($11,179,000) of total revenues. Property taxes consist of two components: Real estate and personal property taxes which are determined by the mill levy set by the city and the assessed value of the property; and motor vehicle taxes, which are established by a countywide average tax rate, and the assessed value of the vehicle. Real estate assessed value declined by 0.6%. The total City mill levy was decreased slightly, by .1%, while the overlapping levy increased by 1.1% Tax delinquency increased from 4.2% to 5.6%. Personal property value continued to slide, presumably as a result of removing business equipment from the tax base. Personal property value has now dropped to $23.1 million from it’s peak of $39.7 million in 2007. At the 2010 tax rate, this exemption is equivalent to $430,000 in lost revenue for 2010. Motor Vehicle value decreased by 1.6%. Motor vehicle taxes are distributed based on a formula using prior year’s tax effort (similar to the Countywide Sales Tax Distribution). The following table summarizes the comparative property assessed values and tax levy rates: Fiscal (Budget) Year 2009 2010 Change Real Estate and Personal Property Assessed Valuation 399,982,148 397,470,626 (2,511,522) City Mill Levy ($ per $1,000) Operating (General Fund, Employee Benefits, Flood and Drainage Fund)21.749 20.082 (1.667) Debt Service Millage 4.137 5.773 1.636 Total City Levy Rate 25.886 25.855 (0.031) Total Overlapping Levy 123.359 124.707 1.348 Percent of Current Taxes Collected 95.8% 94.4% (0.014) Ratio of Total Taxes (including delinquent tax collections) to Taxes Levied 103.2% 97.1% (0.061) Motor Vehicle Valuation 51,351,656 50,330,252 (1,021,404) The unemployment rate in Saline County increased significantly from 5.7% in 2009 to 6.4% in 2010, reflecting general economic conditions. This is still slightly below the statewide and significantly below the national unemployment rate. The total labor force decreased to 26,155, a change of 2.4%. 7 In 2010, the top ten property taxpayers accounted for 12.41% of total assessed value. This is slightly more concentrated than ten years ago (at 11.32%) Statement of Net Assets Net assets may, over time, provide an indicator of a government’s financial position. In the case of the City of Salina, assets exceeded liabilities by $181,735,000 at December 31, 2010. This represents an increase in net assets of $612,000 over 2009. A comparative condensed Statement of Net Assets at December 31, 2009 and 2010: 2009 2010 2009 2010 2009 % of Total 2010 % of Total 2009 - 2010 Change Cash and Investments 24,782$ 13,935$ 12,756$ 17,530$ 37,538$ 14% 31,465$ 12% (6,073)$ Other Current Assets 13,047$ 12,309$ 3,697$ 2,025$ 16,744$ 6% 14,334$ 5% (2,410)$ Noncurrent (Capital) Assets 154,041$ 166,122$ 58,573$ 58,273$ 212,614$ 80%224,395$ 83%11,781$ Total Assets 191,870$ 192,366$ 75,026$ 77,828$ 266,896$ 100%270,194$ 100%3,298$ Current Liabilities 20,437$ 21,918$ 2,789$ 3,352$ 23,226$ 27% 25,270$ 29% 2,044$ Noncurrent Liabilities 51,579$ 52,650$ 10,967$ 10,538$ 62,546$ 73%63,188$ 71%642$ Total Liabilities 72,016$ 74,568$ 13,756$ 13,890$ 85,772$ 100%88,458$ 100%2,686$ Net Assets: Invested in capital assets, net of related debt 101,974$ 113,001$ 48,234$ 48,079$ 150,208$ 83% 161,080$ 89% 10,872$ Restricted for Permanent Funds 439$ 417$ -$ -$ 439$ 0% 417$ 0% (22)$ Restricted for Debt Service 735$ 572$ 1,553$ 1,553$ 2,288$ 1% 2,125$ 1% (163)$ Unrestricted 16,706$ 3,808$ 11,483$ 14,306$ 28,189$ 16%18,114$ 10%(10,075)$ Total Net Assets 119,854$ 117,798$ 61,270$ 63,938$ 181,124$ 100%181,736$ 100%612$ Percent of Total Assets 66% 65% 34% 35% 100% 100% Cash and Investments as a percentage of current liabilities 121% 64% 457% 523% 162% 125% Governmental Activities Business-Type Activities Comparative Condensed Statement of Net Assets, 2009 and 2010 (In $000) Total Primary Government The largest segment of the City’s net assets (89%) reflects its investment in capital assets (land, buildings, streets and drainage facilities, utility plant, vehicles, equipment, etc.), less any debt used to acquire those assets that is still outstanding. These assets are used to provide services to citizens. As a result, resources required to retire related debt can not come from liquidation of the asset. Such resources generally must be provided from other sources, such as future taxes or user charges. A small portion of net assets (1%) is restricted for debt service. The remainder (unrestricted) of net assets (10%) may be used to meet the City’s obligations to citizens and creditors. This is significantly lower than the 2009 amount of 16%. In 2010, the amount invested in capital assets net of related debt increased by $10,872,000. Unrestricted net assets decreased by $10,073,000. This largely reflects an decrease in cash and investments concentrated in Governmental Activities. These shifts are quite large. They reflect (primarily) the financial transactions related to the construction of the Aquatics facility, an $11,000,000 project, through 2009 and 2010. Schedule 1, in the supplemental information in the Appendix reveals that the range for unrestricted net assets as a percentage of total net assets, varies from 9% of total net assets (in 2006) to 16% of total net assets (in 2003 and 2010). Thus, while the shift is large, the values remain within historical limits, and is attributable to the influence of a single large project. Total liabilities increased, with the bulk of the increase attributable to non-current liabilities. This is attributable to $2,500,000 in a temporary note payable. Long term liabilities increased only slightly, as did total net assets. 8 During the year ended December 31, 2010, there were several significant events that changed the balance of net assets. Governmental Activities. 2010 saw an decrease in cash and investments in Governmental funds. This is due largely to increases in expenditures for both capital and operating requirements and debt issuance transactions. One significant contributor to this trend was spend down of the debt proceeds for the Aquatics Center. Business-type Activities: The Water and Wastewater fund had a significant influence on the Business Type Activities net assets. The increase in net assets is due to good revenue production, controlled expenses, and the refinancing of several outstanding debt obligations. Statement of Activities A condensed statement of activities is shown below. 2009 2010 2009 2010 2009 % 2010 %2009 - 2010 Program Revenues:Change Charges for Services 9,921$ 12,306$ 20,933$ 22,419$ 30,854$ 45% 34,725$ 48% 3,871$ Operating Grants and Contributions 3,163$ 3,415$ 3,163$ 5% 3,415$ 5% 252$ General Revenues: Property Taxes 11,865$ 11,179$ 11,865$ 17% 11,179$ 16% (686)$ Sales Taxes 15,049$ 15,225$ 15,049$ 22% 15,225$ 21% 176$ Other Taxes 5,791$ 6,298$ 5,791$ 9% 6,298$ 9% 507$ Investment Revenue 277$ 81$ 242$ 67$ 519$ 1% 148$ 0% (371)$ Other Miscellaneous 506$ 565$ 353$ 341$ 859$ 1%906$ 1%47$ Total Revenues: 46,572$ 49,069$ 21,528$ 22,827$ 68,100$ 100%71,896$ 100%3,796$ Expenses:-$ General Government 14,664$ 10,845$ 14,664$ 20% 10,845$ 15% (3,819)$ Public Safety 18,539$ 18,592$ 18,539$ 25% 18,592$ 25% 53$ Public Works 9,781$ 9,782$ 9,781$ 13% 9,782$ 13% 1$ Public Health and Sanitation 1,390$ 1,365$ 1,390$ 2% 1,365$ 2% (25)$ Culture and Recreation 5,397$ 6,572$ 5,397$ 7% 6,572$ 9% 1,175$ Planning and Development 3,375$ 3,715$ 3,375$ 5% 3,715$ 5% 340$ Solid Waste Disposal 2,287$ 2,925$ 2,287$ 3% 2,925$ 4% 638$ Water and Sewer 12,995$ 14,050$ 12,995$ 18% 14,050$ 19% 1,055$ Sanitation 2,224$ 2,261$ 2,224$ 3% 2,261$ 3% 37$ Golf Course 897$ 817$ 897$ 1% 817$ 1% (80)$ Interest on Long Term Debt 1,983$ 2,257$ -$ -$ 1,983$ 3%2,257$ 3%274$ Total Expenses 55,129$ 53,128$ 18,403$ 20,053$ 73,532$ 100%73,181$ 100%(351)$ Increase in net assets before transfers (8,557)$ (4,059)$ 3,125$ 2,774$ (5,432)$ (1,285)$ 4,147$ Transfers and other extraordinary items 255$ 92$ (255)$ (92)$ -$ -$ -$ Increase in Net Assets (8,302)$ (3,967)$ 2,870$ 2,682$ (5,432)$ (1,285)$ 4,147$ Net Assets, January 1 128,045$ 119,854$ 58,367$ 62,270$ 186,412$ 182,124$ (4,288)$ Prior Period Adjustment 111$ 1,911$ 33$ (14)$ 144$ 1,897$ 1,753$ Net Assets, January 1, restated 128,156$ 121,765$ 58,400$ 62,256$ 186,556$ 184,021$ (2,535)$ Net Assets December 31 119,854$ 117,798$ 61,270$ 64,938$ 181,124$ 182,736$ 1,612$ Condensed Comparitive Statement of Activities, 2009 and 2010 (In $000's) Governmental Activities Business-Type Total Primary Government Governmental Activities. Total expenses for Governmental Activities for the year ending December 31, 2010 were $53,129,000 compared to $55,129,000 in 2009. Governmental activities represent 70% of the City’s total expenses. The largest element of Governmental Activity expense was Public Safety, accounting for 35% of the total. Charges for service attributable to Governmental Activities totaled $12,306,000 and operating grants for those purposes were $3,415,000. The balance was funded by general revenues. Sales taxes accounted for $15,225,000 of the general revenues, with property taxes providing $11,179,000. Net assets decreased by $3,967,000 as a result of Governmental Activities. Business Type Activities. Total expenses for Business-type Activities for the year were $22,419,000, or 25% of the City’s total expense. The majority of this expense ($16,520,000) is attributable to Water and Sewer operations, with the other activities (Solid Waste Disposal, Sanitation, and Golf Course) costing a combined total of $5,899,000. These activities are primarily supported by user charges, with only $408,000 coming from general revenues, representing largely the interest earned on fund balances held by the City. Net assets increased by $2,682,000 as a result of Business-type Activity operations. 9 Fund Financial Analysis Governmental Funds Fund Balances: The table below shows the Governmental Fund balances for major funds for the years ended December 31, 2009 and December 31, 2010. Fund 2009 2010 Change General 5,087,381$ 3,617,181$ (1,470,200)$ Flood and Drainage 190,437$ 188,526$ (1,911)$ Tourism and Convention 263,315$ 367,197$ 103,882$ Special Gas 2,053,050$ 1,484,641$ (568,409)$ Bicentennial Center 112,228$ 46,048$ (66,180)$ Debt Service 735,291$ 571,873$ (163,418)$ Capital Projects 7,773,362$ (2,610,001)$ (10,383,363)$ Other Governmental Funds 4,484,414$ 5,136,019$ 651,605$ Total 20,699,478$ 8,801,484$ (11,897,994)$ Total Governmental Fund balances decreased by $11,897,994. The reasons for these changes are varied. The most significant change is in the Capital Projects Fund, and is largely the result of the Aquatics Center financing, reflected in the $10,383,363 reduction in Capital Projects fund balances. The reduction in the General Fund balance reflects economic conditions, and the fact that expenditures were still exceeding revenues in 2010. The deficit in the Special Gas Tax fund is due primarily to an aggressive capital and road maintenance program. The increase in “Other Funds” reflects the increasing balance in the Special Sales Tax Capital Fund. The Employee benefits fund has been eliminated and is now consolidated with the General Fund. Revenues and Expenditures: The following table shows a comparison of revenues and expenditures (including other sources and uses) for major funds for the years ending December 31, 2009 and 2010. Fund 2009 2010 Change Revenues (Including Other Financing Sources) General 33,865,188$ 34,303,574$ 438,386$ Flood and Drainage Improvement 59,430$ 1,312$ (58,118)$ Tourism and Convention 1,001,607$ 1,332,671$ 331,064$ Special Gas 1,529,207$ 1,569,648$ 40,441$ Bicentennial Center 1,644,135$ 1,702,066$ 57,931$ Debt Service 3,895,680$ 7,943,865$ 4,048,185$ Capital Projects 26,079,619$ 5,552,906$ (20,526,713)$ Other Governmental Funds* 5,298,467$ 6,770,223$ 1,471,756$ Total Revenues 73,373,333$ 59,176,265$ (14,197,068)$ Less Other Sources 28,681,145$ 12,157,284$ (16,523,861)$ Revenues, net of other sources 44,692,188$ 47,018,981$ 2,326,793$ Expenditures (Including Other Financing Uses) General 34,807,330$ 35,773,774$ 966,444$ Employee Benefits (residual transfer) 789,647$ -$ (789,647)$ Flood and Drainage Improvement 376,176$ 3,223$ (372,953)$ Tourism and Convention 1,012,960$ 1,228,789$ 215,829$ Special Gas 1,269,535$ 2,138,057$ 868,522$ Bicentennial Center 1,667,838$ 1,768,246$ 100,408$ Debt Service 3,953,133$ 8,107,283$ 4,154,150$ Capital Projects 14,639,925$ 15,936,269$ 1,296,344$ Other Governmental Funds* 5,980,229$ 6,118,618$ 138,389$ Total Expenditures 64,496,773$ 71,074,259$ 6,577,486$ Less Other Uses 3,422,099$ 4,983,834$ 1,561,735$ Expenditures, net of other uses 61,074,674$ 66,090,425$ 5,015,751$ Consolidated Statement of Revenues and Expenditures for Major Funds, 2009 and 2010 Modified Accrual Basis 10 Total revenues and other sources decreased by $15,288,532 from 2009 to 2010. The largest component of this change was in the Capital Projects accounts, and is related to the Aquatics Center and several major street improvement projects. Other changes include an increased General supplement for the Bi-Centennial Center and changes in temporary note activity. Expenditure changes reflect transfers from the General Fund to the Bi-Centennial Center Fund as well as the Special Sales Tax Transfer (included in “Other Funds”). The changes in debt service are due largely to the initial payments on the Aquatics Center debt. The Capital Projects also had a very large influence this year. Proprietary Funds The City of Salina operates four Enterprise Funds as well as five Internal Service Funds. A summarized comparative Statement of Net Assets follows for each Enterprise Fund: 2009 2010 Change 2009 2010 Change Current Assets 3,291$ 3,887$ 596$ 12,356$ 14,755$ 2,399$ Capital Assets 3,455$ 4,211$ 756$ 54,105$ 53,075$ (1,030)$ Total Assets 6,746$ 8,098$ 1,352$ 66,461$ 67,830$ 1,369$ Current Liabilities 496$ 1,010$ 514$ 2,159$ 2,091$ (68)$ Noncurrent Liabilities 2,129$ 3,192$ 1,063$ 8,634$ 7,161$ (1,473)$ Total Liabilities 2,625$ 4,202$ 1,577$ 10,793$ 9,252$ (1,541)$ Assets Invested in Capital, net of related debt 2,585$ 2,294$ (291)$ 44,636$ 45,567$ 931$ Restricted Net Assets -$ 1,553$ 1,553$ -$ Unrestricted Net Assets 1,536$ 1,602$ 66$ 9,479$ 11,458$ 1,979$ Total Net Assets 4,121$ 3,896$ (225)$ 55,668$ 58,578$ 2,910$ Current Assets as a percentage of current liabilities 664% 385% 572% 706% 2009 2010 Change 2009 2010 Change Current Assets 737$ 846$ 109$ 69$ 66$ (3)$ Capital Assets 626$ 639$ 13$ 387$ 348$ (39)$ Total Assets 1,363$ 1,485$ 122$ 456$ 414$ (42)$ Current Liabilities 78$ 203$ 125$ 56$ 48$ (8)$ Noncurrent Liabilities 119$ 123$ 4$ 85$ 61$ (24)$ Total Liabilities 197$ 326$ 129$ 141$ 109$ (32)$ Assets Invested in Capital, net of related debt 626$ 639$ 13$ 387$ 348$ (39)$ Restricted Net Assets Unrestricted Net Assets 540$ 520$ (20)$ (72)$ (43)$ 29$ Total Net Assets 1,166$ 1,159$ (7)$ 315$ 305$ (10)$ Current Assets as a percentage of current liabilities 945% 417% 123% 138% Comparative Summary Statement of Net Assets; 2009 - 2010 (in $000's) Solid Waste Disposal Water and Sewer Sanitation Golf Course The Golf Course Fund shows declines in total net assets, due primarily to a reduction in current assets, however, capital assets also decline. Unrestricted net assets in this fund reflect a $43,000 deficit balance. The Solid Waste fund shows increases in assets as well as liabilities, the result of constructing an additional cell. The Water and Sewer fund shows increases in current assets and decreases in liabilities. 11 Revenues, Expenses, and Changes in Net Assets The Water and Wastewater Funds, showed healthy results from operations, with net assets increasing significantly due to a good revenue flow and controlled expenses. The Golf Course showed a very slight gain on the year. The Sanitation Fund is stable. Net assets declined in the Solid Waste fund due to an increase in operating expenses. 2009 2010 Change 2009 2010 Change Operating Revenues 2,939$ 2,878$ (61)$ 15,249$ 16,789$ 1,540$ Operating Expenses 2,245$ 2,852$ 607$ 12,524$ 13,571$ 1,047$ Operating Income 694$ 26$ (668)$ 2,725$ 3,218$ 493$ Non-operating revenues (expenses) 18$ (55)$ (73)$ (300)$ (433)$ (133)$ Income (Loss) before Transfers 712$ (29)$ (741)$ 2,425$ 2,785$ 360$ Transfers in (out) (180)$ (139)$ 41$ (75)$ 77$ 152$ Change in Net Assets 532$ (168)$ (700)$ 2,350$ 2,862$ 512$ Net Assets, January 1 3,606$ 4,121$ 515$ 53,268$ 55,668$ 2,400$ Restatement (17)$ (57)$ (40)$ 50$ 48$ (2)$ Net Assets, January 1, restated 3,589$ 4,064$ 475$ 53,318$ 55,716$ 2,398$ Net Assets, December 31 4,121$ 3,896$ (225)$ 55,668$ 58,578$ 2,910$ 2009 2010 Change 2009 2010 Change Operating Revenues 2,294$ 2,311$ 17$ 803$ 783$ (20)$ Operating Expenses 2,224$ 2,276$ 52$ 897$ 817$ (80)$ Operating Income 70$ 35$ (35)$ (94)$ (34)$ 60$ Non-operating revenues (expenses) 10$ 18$ 8$ 1$ -$ (1)$ Income (Loss) before Transfers 80$ 53$ (27)$ (93)$ (34)$ 59$ Transfers in (out) -$ (50)$ (50)$ -$ 20$ 20$ Change in Net Assets 80$ 3$ (77)$ (93)$ (14)$ 79$ Net Assets, January 1 1,086$ 1,166$ 80$ 407$ 314$ (93)$ Restatement -$ (10)$ (10)$ -$ 5$ 5$ Net Assets, January 1, restated 1,086$ 1,156$ 70$ 407$ 319$ (88)$ Net Assets, December 31 1,166$ 1,159$ (7)$ 314$ 305$ (9)$ Comparative Summary of Revenues, Expenses and Changes in Net Assets, 2009 and 2010 (In $000's) Solid Waste Disposal Water and Sewer Sanitation Golf Course Budgetary Highlights The objective of budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City Commission. The legal level of budgetary control is maintained at the Fund level, in accordance with State Statutes. Management control is maintained at the departmental level. Within the departments, considerable discretion is permitted. The City uses an encumbrance accounting system, in which estimated purchase orders are recorded prior to the release of purchase orders to vendors. Open purchase orders are reported as reservations of budgetary basis fund balances at December 31, 2010. Formal budgetary 12 amendments are limited to those circumstances in which the need is perceived to alter the total fund budget. Re- allocation among departments or line items are not typically recorded as budgetary amendments. However, in addition to formal amendments, departments within the City are allowed to transfer budget between line items within a department. Budgets may also be transferred from department to department within each fund. As a result of these transfers, the original budget and the final budgets may not be the same for departments within a fund. There were a number of funds in which the budgets were amended, including the General Fund, Special Highway Fund, Arts and Humanities Fund, Sales Tax Capital Fund, Sales Tax Economic Development Fund, the Golf Course Fund, and the Bicentennial Center Fund. The City experienced a number of significant variances from budgeted items in the General Fund, however, the total fund was within budgeted expenses. Most revenue classes fell short of budget. This was partially offset by increased transfers from other funds, in particular the Special Sales Tax fund Several expenditure items were also significantly over or under budget. Several Departments exceeded budgeted expenditures, most notably the Public Safety Departments, which exceeded budgeted levels. The budget variations are due to under-budgeting with respect to FLSA time. Capital Assets and Debt Administration Capital Assets The total amount invested in Capital Assets for the City at December 31, 2010 was $224,399,000 net of accumulated depreciation. The following table illustrates the Capital Asset balance by various classes of assets at December 31, 2010: 2009 2010 2009 2010 2009 2010 Equipment, Furniture and Fixtures 1,575$ 1,314$ 1,907$ 1,982$ 3,482$ 3,296$ Vehicles 2,485$ 2,445$ 928$ 903$ 3,413$ 3,348$ Buildings and Improvements 13,261$ 23,625$ 12,789$ 12,345$ 26,050$ 35,970$ Land 22,477$ 22,477$ 1,541$ 1,541$ 24,018$ 24,018$ Infrastructure 80,206$ 83,712$ 39,803$ 39,985$ 120,009$ 123,697$ Construction in Progress 34,037$ 32,549$ 1,605$ 1,517$ 35,642$ 34,066$ Total 154,041$ 166,122$ 58,573$ 58,273$ 212,614$ 224,395$ * Net of Accumulated Depreciation Capital Asset Balances Net of Depreciation, 12/31/2009 and 12/31/2010 (In 000's) Governmental Activity Business-type Activity Total Changes to capital assets may be summarized as follows: Governmental Activity Business-Type Activity Total Additions 32,447$ 4,306$ 36,753$ Retirements (18,182)$ (2,490)$ (20,672)$ Adjustments 1,895$ 60$ 1,955$ Net Additions 16,160$ 1,876$ 18,036$ Depreciation Expense Applied 4,306$ 2,663$ 6,969$ Changes to Capital Assets, 2010 (in 000's) 13 Additional information on the City’s capital assets can be found in Note 4,D. of the notes to the basic financial statements. Debt Management The City’s general policy for General Obligation Bonds is to issue them for no more than 10 years for the City at Large portion, with some exceptions permitted for extraordinary projects. On special assessment bonds, the maturity may extend to 15 years. The outstanding General Obligation Bonds for Governmental activities at 12/31/2010 totaled $53,120,952. In addition, there were temporary notes outstanding in the amount of $2,500,000. Business-type activities had $1,580,000 in Revenue Bonds outstanding, as well as $8,614,576 in General Obligation Bonds. Revenues generated by user fees are pledged to retire all of the Bonds issued by Business-type activities. The City engaged in several debt transactions during 2010. On May 1st, the City issued $6,875,000 in general improvement and refunding bonds. Of this amount, $824,341 was used to refund all $820,000 of the outstanding Series 2002-A General Obligation Water and Sewer Refunding bonds. The refunding resulted in an economic gain of $41,141, and a reduction of $45,622 in future debt payments On October 15, the City issued $7,860,000 in general obligation refunding bonds. Proceeds were used to current refund all $5,663,653 of outstanding Kansas Water Supply loans. In addition, the remaining amounts outstanding ($2,100,000) on the 2001 General Obligation Bonds and the 2002-B General Obligation Bonds were advance refunded. These transactions resulted in an economic gain of $760,626, and a reduction of future debt payments of $751,673 Additional information on the City’s debt can be found in Note 4, E. of the notes to the basic financial statements. Requests for Information This financial report is intended to give the reader a general overview of the City’s finances. Questions about information in this report or requests for additional information should be directed to the Director of Finance, Room 206, 300 West Ash Street, Salina, Kansas, 67401. BASIC FINANCIAL STATEMENTS Total Total Total Salina Salina Governmental Business-type Primary Housing Airport Activities Activities Government Authority Authority ASSETS Current assets: Cash and investments 13,934,571$17,529,860$31,464,431$1,146,462$4,218,016$ Receivables (net of allowance for uncollectibles) Accounts 956,188 1,359,815 2,316,003 95,234 210,224 Taxes 10,732,334 -10,732,334 -1,833,239 Interest 17,498 16 17,514 -- Notes ---2,293 - Inventory 209,668 594,539 804,207 13,375 2,251 Restricted cash and investments ---273,542 - Prepaid expenses ---32,915 17,909 Deferred charges 393,398 70,804 464,202 -130,729 Total current assets 26,243,657 19,555,034 45,798,691 1,563,821 6,412,368 Noncurrent assets: Notes receivable ---2,178 - Capital assets, nondepreciable Construction in progress 32,249,155 1,516,604 33,765,759 666,707 1,205,379 Land 22,477,191 1,541,002 24,018,193 1,481,891 10,449,502 Capital assets, depreciable 193,683,811 98,909,236 292,593,047 7,129,784 61,103,941 Less: Accumulated depreciation 82,288,008 43,693,905 125,981,913 2,986,378 24,165,814 Total noncurrent assets 166,122,149 58,272,937 224,395,086 6,294,182 48,593,008 Total assets 192,365,806$77,827,971$270,193,777$7,858,003$55,005,376$ Liabilities: Current liabilities: Accounts payable 895,962$598,848$1,494,810$7,758$126,317$ Retainage payable 626,064 29,588 655,652 -- Accrued liabilities 562,877 -562,877 44,548 150,557 Matured bond principal and interest 5,234 -5,234 -- Primary Government CITY OF SALINA, KANSAS STATEMENT OF NET ASSETS December 31, 2010 Component Units The notes to the basic financial statements are an integral part of this statement. 14 Matured bond principal and interest 5,234 -5,234 -- Accrued interest payable 826,829 96,694 923,523 -203,723 Deposits payable -138,888 138,888 79,288 - Unearned revenue 10,415,491 -10,415,491 62,984 1,858,836 Due to other governments ---19,565 - Current portion of compensated absences 1,594,804 329,660 1,924,464 18,055 - Current portion of temporary notes payable 2,500,000 -2,500,000 -- Current portion of revenue bonds payable -770,000 770,000 -- Current portion of financing leases payable ----40,238 Current portion of special assessment debt payable ----20,286 Current portion of general obligation bonds payable 4,491,133 1,388,805 5,879,938 -1,040,000 Total current liabilities 21,918,394 3,352,483 25,270,877 232,198 3,439,957 Noncurrent liabilities: Accrued liabilities 245,207 -245,207 41,288 - Compensated absences 1,635,684 338,108 1,973,792 4,514 - Net OPEB obligation 2,138,790 254,801 2,393,591 -- Revenue bonds payable -810,000 810,000 -- Financing leases payable ----245,558 Temporary notes payable ----11,652,467 Special assessment debt payable ----125,013 General obligation bonds payable 48,629,820 7,225,772 55,855,592 -11,752,154 Landfill post-closure care liabilities -1,909,188 1,909,188 -- Total noncurrent liabilities 52,649,501 10,537,869 63,187,370 45,802 23,775,192 Total liabilities 74,567,895$13,890,352$88,458,247$278,000$27,215,149$ Net Assets Invested in capital assets, net of related debt 113,001,196$48,078,360$161,079,556$6,292,004$23,717,291$ Restricted for: Permanent funds: Expendable 416,490 -416,490 152,966 - Debt service 571,873 1,553,016 2,124,889 -- Unrestricted 3,808,352 14,306,243 18,114,595 1,135,033 4,072,936 Total net assets 117,797,911$63,937,619$181,735,530$7,580,003$27,790,227$ The notes to the basic financial statements are an integral part of this statement. 14 Operating Capital Total Total Total Salina Salina Charges for Grants and Grants and Governmental Business-type Primary Housing Airport Expenses Services Contributions Contributions Activities Activities Government Authority Authority Governmental activities: General government 10,845,500$5,142,693$415,201$-$[5,287,606]$-$[5,287,606]$-$-$ Public safety 18,591,886 3,968,643 822,277 -[13,800,966]-[13,800,966]-- Public works 9,781,911 196,095 1,391,466 -[8,194,350]-[8,194,350]-- Public health and sanitation 1,365,114 37,331 144,931 -[1,182,852]-[1,182,852]-- Culture and recreation 6,571,952 2,817,214 193,539 -[3,561,199]-[3,561,199]-- Planning and development 3,715,740 144,442 447,761 -[3,123,537]-[3,123,537]-- Interest on long-term debt 2,256,644 ---[2,256,644]-[2,256,644]-- Total governmental activities 53,128,747 12,306,418 3,415,175 -[37,407,154]-[37,407,154]-- Business-type activities: Solid Waste Disposal 2,924,578 2,852,731 ---[71,847][71,847]-- Water and Sewer 14,049,698 16,520,055 ---2,470,357 2,470,357 -- Sanitation 2,260,926 2,310,200 ---49,274 49,274 -- Golf Course 817,429 735,785 ---[81,644][81,644]-- Total business-type activities 20,052,631 22,418,771 ---2,366,140 2,366,140 -- Total primary government 73,181,378$34,725,189$3,415,175$-$[37,407,154]2,366,140 [35,041,014]-- Component units: Salina Housing Authority 2,414,352$463,052$1,626,534$383,404$---58,638 - Salina Airport Authority 5,617,038 2,343,143 -1,172,507 ----[2,101,388] Total component units 8,031,390$2,806,195$1,626,534$1,555,911$---58,638 [2,101,388] General Revenues: Property taxes levied for Changes in Net Assets Component UnitsPrimary GovernmentProgram Revenues CITY OF SALINA, KANSAS STATEMENT OF ACTIVITIES For the Year Ended December 31, 2010 Net [Expenses] Revenue and The notes to the basic financial statements are an integral part of this statement. 15 Property taxes levied for General purposes 7,803,301 -7,803,301 -1,768,154 Debt service 2,230,753 -2,230,753 -- Motor vehicle tax General purposes 1,145,130 -1,145,130 -- Sales tax General purposes 11,117,078 -11,117,078 -- Selective purposes 4,107,810 -4,107,810 -- Other taxes General purposes 6,297,877 -6,297,877 -- Investment revenues 80,894 67,266 148,160 20,305 9,948 Miscellaneous 564,936 340,964 905,900 -48,206 Transfers, net 92,219 [92,219]--- Subtotal general revenues 33,439,998 316,011 33,756,009 20,305 1,826,308 Change in net assets [3,967,156]2,682,151 [1,285,005]78,943 [275,080] Net assets - beginning 119,853,666 61,269,395 181,123,061 7,501,060 28,065,307 Prior period adjustment 1,911,401 [13,927]1,897,474 -- Net assets - beginning, restated 121,765,067 61,255,468 183,020,535 7,501,060 28,065,307 Net assets - ending 117,797,911$63,937,619$181,735,530$7,580,003$27,790,227$ The notes to the basic financial statements are an integral part of this statement. 15 Flood &Tourism Drainage and Special General Improvement Convention Gas ASSETS Cash and investments 3,229,497$188,526$2,058$1,339,840$ Receivables (net) Accounts 494,418 -365,139 - Taxes 7,699,277 --316,843 Interest 17,498 --- Inventory 87,328 --- Due from other funds 58,031 --- Cash with fiscal agent ---- Total assets 11,586,049$188,526$367,197$1,656,683$ LIABILITIES AND FUND BALANCE Liabilities: Accounts payable 269,591$-$-$106,414$ Retainage payable ---65,628 Deferred revenue 7,699,277 --- Due to other funds ---- Matured principal and interest ---- Temporary notes payable ---- Total liabilities 7,968,868 --172,042 Fund balance: Reserved for encumbrances 99,286 1,176 -498,417 Reserved for debt service ---- Unreserved, undesignated General fund 3,517,895 --- Special revenue funds -187,350 367,197 986,224 Permanent funds ---- Capital project funds ---- Total fund balances 3,617,181 188,526 367,197 1,484,641 Total liabilities and fund balance 11,586,049$188,526$367,197$1,656,683$ CITY OF SALINA, KANSAS BALANCE SHEET GOVERNMENTAL FUNDS December 31, 2010 Other Total Bicentennial Debt Capital Governmental Governmental Center Service Projects Funds Funds 58,362$571,873$769,005$5,200,470$11,359,631$ 44,418 --52,213 956,188 -2,716,214 --10,732,334 ----17,498 ----87,328 ----58,031 -5,234 --5,234 102,780$3,293,321$769,005$5,252,683$23,216,244$ 56,732$-$318,570$58,633$809,940$ --560,436 -626,064 -2,716,214 --10,415,491 ---58,031 58,031 -5,234 --5,234 --2,500,000 -2,500,000 56,732 2,721,448 3,379,006 116,664 14,414,760 --4,044,369 588,487 5,231,735 -571,873 -609,713 1,181,586 ----3,517,895 46,048 --3,521,329 5,108,148 ---416,490 416,490 --[6,654,370]-[6,654,370] 46,048 571,873 [2,610,001]5,136,019 8,801,484 102,780$3,293,321$769,005$5,252,683$23,216,244$ 16 The notes to the basic financial statements are an integral part of this statement. Total Governmental Fund Balances 8,801,484$ Amounts reported for governmental activities in the statement of net assets are different because Bond issuance costs are shown as current year expenditures in the funds. Bond issuance costs 393,398 Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds The cost of capital assets is 247,525,852 Accumulated depreciation is 81,432,609 166,093,243 An internal service fund is used by the City's management to charge the costs of the worker's compensation program. The assets and liabilities of the internal service fund are included with governmental activities.1,737,815 The following liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported as liabilities in the funds. These liabilities at year end consist of: Compensated absences 3,141,457 Net OPEB obligation 2,138,790 Bonds payable 53,120,953 Accrued interest on the bonds 826,829 [59,228,029] Net Assets of Governmental Activities 117,797,911$ CITY OF SALINA, KANSAS RECONCILIATION OF THE TOTAL GOVERNMENTAL FUND BALANCE TO NET ASSETS OF GOVERNMENTAL ACTIVITIES December 31, 2010 The notes to the basic financial statements are an integral part of this statement. 17 Flood &Tourism Drainage and Special General Improvement Convention Gas REVENUES: Taxes Real estate taxes 7,573,269$-$-$-$ Delinquent taxes 229,123 909 -- Motor vehicle taxes 961,648 403 -- General sales taxes 11,117,078 --- Selective sales taxes ---- Other taxes 4,965,601 -1,332,276 - Intergovernmental 1,008,482 --1,380,416 Special assessments ---- Licenses and permits ---- Charges for services 7,193,831 --- Investment revenue --395 9,232 Reimbursements ---- Miscellaneous 352,308 --- Total revenues 33,401,340 1,312 1,332,671 1,389,648 EXPENDITURES: Current General government 3,549,487 --- For the Year Ended December 31, 2010 CITY OF SALINA, KANSAS EXPENDITURES AND CHANGES IN FUND BALANCE STATEMENT OF REVENUES, GOVERNMENTAL FUNDS General government 3,549,487 --- Public safety 18,228,881 --- Public works 6,245,355 --388,775 Public health and sanitation 1,176,743 --- Culture and recreation 2,599,921 --- Planning and development 2,428,900 -678,906 - Miscellaneous ---- Capital outlay 560,129 3,223 -1,749,282 Debt service Principal retirement ---- Interest and other charges ---- Deposit to escrow account ---- Total expenditures 34,789,416 3,223 678,906 2,138,057 Excess [deficiency] of revenue and other sources over [under] expenditures and other [uses][1,388,076][1,911]653,765 [748,409] OTHER FINANCING SOURCES [USES] Issuance of bonds ---- Bond premium ---- Transfers in 902,234 --180,000 Transfers [out][984,358]-[549,883]- Total other financing sources [uses][82,124]-[549,883]180,000 Net change in fund balance [1,470,200][1,911]103,882 [568,409] Fund balance - Beginning of year 5,087,381 190,437 263,315 2,053,050 Fund balance - End of year 3,617,181$188,526$367,197$1,484,641$ Other Total Bicentennial Debt Capital Governmental Governmental Center Service Projects Funds Funds -$2,182,971$-$-$9,756,240$ -47,782 --277,814 -183,079 --1,145,130 ----11,117,078 ---4,107,810 4,107,810 ----6,297,877 ---1,015,225 3,404,123 -1,385,171 --1,385,171 ---11,051 11,051 708,600 --1,031,410 8,933,841 -17,060 17,410 20,050 64,147 --70,400 -70,400 672 --95,319 448,299 709,272 3,816,063 87,810 6,280,865 47,018,981 ----3,549,487----3,549,487 ----18,228,881 ----6,634,130 ---154,979 1,331,722 1,752,087 --1,424,871 5,776,879 ---501,817 3,609,623 ---32,225 32,225 16,159 -15,506,624 767,187 18,602,604 -5,934,401 -25,000 5,959,401 -2,066,367 30,052 162,539 2,258,958 -106,515 --106,515 1,768,246 8,107,283 15,536,676 3,068,618 66,090,425 [1,058,974][4,291,220][15,448,866]3,212,247 [19,071,444] -2,082,700 4,951,404 -7,034,104 -45,102 2,025 -47,127 992,794 2,000,000 511,667 489,358 5,076,053 --[399,593][3,050,000][4,983,834] 992,794 4,127,802 5,065,503 [2,560,642]7,173,450 [66,180][163,418][10,383,363]651,605 [11,897,994] 112,228 735,291 7,773,362 4,484,414 20,699,478 46,048$571,873$[2,610,001]$5,136,019$8,801,484$ 18 The notes to the basic financial statements are an integral part of this statement. Total Net Change In Fund Balances - Governmental Funds [11,897,994]$ Amounts reported for governmental activities in the statement of activities are different because Capital outlays to purchase or build assets are reported in governmental funds as expenditures. However, for governmental activities those costs are shown in the statement of net assets and allocated over their estimated useful lives as annual depreciation expenses in the statement of activities. This is the amount by which capital outlays exceeds depreciation in the period. Gain on sale of assets [8,871] Proceeds from sale of assets [39,023] Capital outlays 14,907,657 Depreciation expense [4,681,984]10,177,779 Interest on long-term debt in the statement of activities differs from the amount reported in the governmental funds because interest is recorded as an expenditure in the funds when it is due, and thus requires the use of current financial resources. In the statement of activities, however, interest expense is recognized as the interest accrues, regardless of when it is due. This is the amount by which interest increased.[58,727] CITY OF SALINA, KANSAS RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE WITH THE GOVERNMENT-WIDE STATEMENT OF ACTIVITIES For the Year Ended December 31, 2010 The notes to the basic financial statements are an integral part of this statement. 19 the amount by which interest increased.[58,727] An internal service fund is used by the city's management to charge the costs of certain activities to the individual funds. The revenues and expenses of certain internal service fund is reported with governmental activities.[674,516] Some expenses reported in the statement of activities, such as compensated absences and other post employment benefits, do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds.[473,457] Bond and temporary note proceeds are other financing sources in the governmental funds, but they increase long-term liabilities in the statement of net assets and do not affect the statement of activities. Also, governmental funds report the effect of issuance costs, premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. This amount is the net effect of these differences in the treatment of long-term debt and related items.[7,060,683] Repayment of bond principal and bond issuance costs is an expenditure in the governmental funds, but it reduces long-term liabilities in the statement of net assets and does not affect the statement of activities.6,020,442 Changes In Net Assets of Governmental Activities [3,967,156]$ The notes to the basic financial statements are an integral part of this statement. 19 Total Internal Solid Waste Water and Enterprise Service ASSETS Disposal Sewer Sanitation Golf Course Funds Funds Current assets: Cash and investments 3,612,249$13,160,792$709,009$47,810$17,529,860$2,569,706$ Receivables (net of allowance for uncollectibles) Accounts 275,134 947,347 137,334 -1,359,815 - Interest 16 ---16 - Inventory and prepaid supplies -576,002 -18,537 594,539 122,340 Deferred charges -70,804 --70,804 - Total current assets 3,887,399 14,754,945 846,343 66,347 19,555,034 2,692,046 Capital assets: Nondepreciable capital assets: Construction in progress -1,516,604 --1,516,604 - Land 682,000 844,002 -15,000 1,541,002 - Depreciable capital assets: Capital assets 8,255,055 88,161,530 1,500,552 992,099 98,909,236 884,305 Less: accumulated depreciation 4,726,571 37,446,663 861,390 659,281 43,693,905 855,399 Total capital assets 4,210,484 53,075,473 639,162 347,818 58,272,937 28,906 Total assets 8,097,883$67,830,418$1,485,505$414,165$77,827,971$2,720,952$ Liabilities: Current liabilities Accounts payable 240,478$226,824$127,198$4,348$598,848$86,022$ Retainage payable 12,979 16,609 --29,588 - Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF NET ASSETS PROPRIETARY FUNDS December 31, 2010 The notes to the basic financial statements are an integral part of this statement. 20 Retainage payable 12,979 16,609 --29,588 - Interest payable 29,547 67,147 --96,694 - Meter deposits payable -138,888 --138,888 - Current portion of compensated absences payable 29,570 180,168 75,817 44,105 329,660 43,951 Current portion of accrued claims payable -----562,877 Current portion of general obligation bonds payable 697,396 691,409 --1,388,805 - Current portion of revenue bonds payable -770,000 --770,000 - Total current liabilities 1,009,970 2,091,045 203,015 48,453 3,352,483 692,850 Noncurrent liabilities: Compensated absences payable 30,327 184,785 77,761 45,235 338,108 45,080 Accrued claims payable -----245,207 Net OPEB Obligation 33,478 159,888 45,580 15,855 254,801 - Payable from restricted assets General obligation bonds payable 1,219,108 6,006,664 --7,225,772 - Revenue bonds payable -810,000 --810,000 - Landfill post-closure care liabilities 1,909,188 ---1,909,188 - Total noncurrent liabilities 3,192,101 7,161,337 123,341 61,090 10,537,869 290,287 Total liabilities 4,202,071$9,252,382$326,356$109,543$13,890,352$983,137$ Net Assets Invested in capital assets, net of related debt 2,293,980$45,567,400$639,162$347,818$48,848,360$28,906$ Restricted Restricted for bond retirement -1,553,016 --1,553,016 - Unrestricted 1,601,832 11,457,620 519,987 [43,196]13,536,243 1,708,909 Total net assets 3,895,812$58,578,036$1,159,149$304,622$63,937,619$1,737,815$ The notes to the basic financial statements are an integral part of this statement. 20 Total Internal Solid Waste Water and Enterprise Service Disposal Sewer Sanitation Golf Course Funds Funds Operating revenues Charges for services 2,852,731$16,520,055$2,310,200$735,785$22,418,771$9,098,458$ Miscellaneous 24,839 268,297 949 46,879 340,964 85,260 Total operating revenues 2,877,570 16,788,352 2,311,149 782,664 22,759,735 9,183,718 Operating expenses General government -----9,866,678 Public works 2,110,533 11,803,594 2,165,861 -16,079,988 - Recreation ---773,344 773,344 - Depreciation 741,007 1,767,504 110,065 44,085 2,662,661 8,303 Total operating expenses 2,851,540 13,571,098 2,275,926 817,429 19,515,993 9,874,981 Operating income [loss]26,030 3,217,254 35,223 [34,765]3,243,742 [691,263] Nonoperating revenues [expenses] Investment revenue 17,992 45,825 3,221 228 67,266 16,747 Debt service [70,017][332,421]--[402,438]- Gain/[loss] on disposal of fixed assets 2,836 1,500 15,000 -19,336 - Amortization of bond issuance costs [5,857][147,679]--[153,536]- Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS PROPRIETARY FUNDS For the Year Ended December 31, 2010 The notes to the basic financial statements are an integral part of this statement. 21 Amortization of bond issuance costs [5,857][147,679]--[153,536]- Total nonoperating revenues [expenses][55,046][432,775]18,221 228 [469,372]16,747 Income [loss] before transfers [29,016]2,784,479 53,444 [34,537]2,774,370 [674,516] Transfers from [to] other funds Transfers in 193,708 77,307 -20,000 291,015 - Transfers [out][333,234]-[50,000]-[383,234]- Total transfers [139,526]77,307 [50,000]20,000 [92,219]- Change in net assets [168,542]2,861,786 3,444 [14,537]2,682,151 [674,516] Net assets, January 1 4,121,382 55,667,522 1,166,051 314,440 61,269,395 2,421,941 Restatement [57,028]48,728 [10,346]4,719 [13,927][9,610] Net assets, January 1, restated 4,064,354 55,716,250 1,155,705 319,159 61,255,468 2,412,331 Net assets, December 31 3,895,812$58,578,036$1,159,149$304,622$63,937,619$1,737,815$ The notes to the basic financial statements are an integral part of this statement. 21 Total Internal Solid Waste Water and Enterprise Service Disposal Sewer Sanitation Golf Course Funds Funds Cash flows from operating activities Cash received from customers and users 2,885,109$16,442,711$2,305,343$735,784$22,368,947$9,112,603$ Cash paid to suppliers of goods or services [1,227,350][9,013,164][1,337,511][432,749][12,010,774][9,276,109] Cash paid to employees [459,996][3,126,237][698,923][365,547][4,650,703][640,799] Other operating receipts 24,839 268,297 949 46,879 340,964 85,260 Net cash provided by [used in] operating activities 1,222,602 4,571,607 269,858 [15,633]6,048,434 [719,045] Cash flows from capital and related financing activities Purchase and construction of capital assets [1,777,297][689,251][133,447]-[2,599,995]- Debt issuance costs incurred -[35,689]--[35,689]- Proceeds from sale of capital assets 312,244 1,500 15,000 -328,744 - Principal payments - general obligation bonds [373,000][977,599]--[1,350,599]- Principal payments - revenue bonds -[740,000]--[740,000]- Proceeds from issuance of general obligation bonds 1,419,504 6,388,902 --7,808,406 - Interest paid [47,988][309,531]--[357,519]- Principal payments - loans payable -[5,862,516]--[5,862,516]- Net cash provided by [used in] capital and related financing activities [466,537][2,224,184][118,447]-[2,809,168]- Cash flows from investing activities Interest received 17,976 52,226 3,221 229 73,652 16,746 Cash flows from noncapital financing activities Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF CASH FLOWS For the Year Ended December 31, 2010 PROPRIETARY FUNDS The notes to the basic financial statements are an integral part of this statement. 22 Cash flows from noncapital financing activities Transfers in 193,708 77,307 -20,000 291,015 - Transfers [out][333,234]-[50,000]-[383,234]- Net cash provided by [used in] noncapital financing activities [139,526]77,307 [50,000]20,000 [92,219]- Net increase [decrease] in cash and cash equivalents 634,515 2,476,956 104,632 4,596 3,220,699 [702,299] Cash and cash equivalents, January 1 2,977,734 10,683,836 604,377 43,214 14,309,161 3,272,005 Cash and cash equivalents, December 31 3,612,249$13,160,792$709,009$47,810$17,529,860$2,569,706$ The notes to the basic financial statements are an integral part of this statement. 22 Total Internal Solid Waste Water and Enterprise Service Disposal Sewer Sanitation Golf Course Funds Funds Reconciliation of operating [loss] income to net cash provided by [used in] operating activities Operating income [loss]26,030$3,217,254$35,223$[34,765]$3,243,742$[691,263]$ Adjustments to reconcile operating income [loss] to net cash provided by [used in] operating activities Depreciation expense 741,007 1,767,504 110,065 44,085 2,662,661 8,303 [Increase] decrease in accounts receivable 32,378 [95,765][4,857]-[68,244]- [Increase] decrease in inventory -55,270 -6,742 62,012 [3,728] Increase [decrease] in accounts payable 132,434 [302,802]119,528 [3,560][54,400][42,093] Increase [decrease] in retainage payable [51,732][74,679]--[126,411]- Increase [decrease] in accrued compensated absences [615][28,491]1,435 [16,124][43,795][4,408] Increase [decrease] in claims payable -----14,144 Increase [decrease] in landfill postclosure liabilities 331,685 ---331,685 - Increase [decrease] in net OBEB obligation 11,415 14,895 8,464 [12,011]22,763 - Increase [decrease] in meter deposits payable -18,421 --18,421 - Net cash provided by [used in] operating activities 1,222,602$4,571,607$269,858$[15,633]$6,048,434$[719,045]$ Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS (Continued) For the Year Ended December 31, 2010 The notes to the basic financial statements are an integral part of this statement. 23 The notes to the basic financial statements are an integral part of this statement. 23 ASSETS Cash and investments 513,599$ Total assets 513,599$ LIABILITIES AND FUND BALANCES Liabilities Accounts payable 513,599$ Total liabilities 513,599$ December 31, 2010 CITY OF SALINA, KANSAS STATEMENT OF ASSETS AND LIABILITIES AGENCY FUNDS The notes to the basic financial statements are an integral part of this statement. 24 25 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Reporting Entity The City of Salina, Kansas (the City) is a municipal corporation governed by a mayor and a five-member commission. These financial statements present the City and its component units, entities for which the government is considered to be financially accountable. Each discretely presented component unit is reported in a separate column in the government wide statements to emphasize that it is legally separated from the government. Discretely Presented Component Units City of Salina Airport Authority - The Salina Airport Authority was created for the purpose of accepting as surplus property portions of the former Schilling A.F.B that was closed by the United States Department of Defense in June 1965. One of the primary functions of the Airport Authority is to facilitate the continued growth of jobs and payroll at the Airport Industrial Center. The Airport Authority is managed and controlled by a five-member Board of Directors appointed by the Salina City Commission. Any director may be removed by a majority vote of the Salina City Commission. The Airport Authority’s basic mill levy (up to 3 mills) requires the approval of the City Commission. The Commission must also approve the issuance of general obligation debt by the Airport Authority. The Airport Authority has a December 31 fiscal year end. Housing Authority of the City of Salina - The purpose of the Housing Authority of the City of Salina (Housing Authority) is to administer Public Housing Programs authorized by the United States Housing Act of 1937. The Mayor of the City of Salina appoints the governing board. The City Commission may remove commissioners of the Housing Authority. The City must issue revenue bonds for the Housing Authority. The financial liability of the Housing Authority is essentially supported by the operating and debt service subsidies received under contract from the Federal government. The Housing Authority has a June 30 fiscal year end. Information in the accompanying financial statements covers the fiscal year ended June 30, 2010. Complete financial statements for each of the individual component units may be obtained at the entity’s administrative offices. Salina Airport Authority Housing Authority of 3237 Arnold Ave. the City of Salina Salina, KS 469 S. 5th Salina, KS Joint Ventures The City of Salina also participates with Saline County in two joint ventures. The Salina-Saline County Board of Health was organized by the City and County to promote public health. The City and County organized the Salina County-City Building Authority to acquire, operate and maintain facilities for the administrative offices of both governments. The primary governments each have an ongoing financial responsibility for the joint ventures. Separate financial statements are available from the governing boards of each joint venture. (GAAP Basis) (Kansas Prescribed Basis) Board of Building Health Authority (Audited)(Audited) Total net assets/unencumbered cash, December 31, 2010 1,760,092$ 1,178,134$ Total change in net assets/change in unencumbered cash, year ended December 31, 2010 260,763 [34,767] Total revenues/cash receipts, year ended December 31, 2010 4,127,377 783,531 Total revenues/cash receipts from City of Salina 1,018,101 291,229 26 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) A. Reporting Entity (Continued) Joint Ventures (Continued) Complete financial statements for each of the joint ventures may be obtained at the entity’s administrative offices. Salina-Saline County Board of Health Salina County-City 125 West Elm Street Building Authority Salina, KS 300 West Ash Street Salina, KS B. Government-wide and fund financial statements The statement of net assets and the statement of activities report information on all of the nonfiduciary activities of the primary government and its component units. For the most part, the effect of interfund activity has been removed from these statements. Exceptions to this general rule are charges between the City’s governmental and business-type activities. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable. The statement of activities demonstrates the degree to which the direct expenses of a given function are offset by program revenues. Direct expenses are those that are specifically associated with a service, program or department and therefore clearly identifiable to a particular function. Program revenues include charges paid by the recipient of the goods or services offered by the program and grants and contributions that are restricted to meeting the operational requirements of a particular program. Taxes and other items, which are not classified as program revenues, are presented as general revenues of the city. Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual funds are reported as separate columns in the fund financial statements. Nonmajor funds are aggregated and presented in a single column in the fund financial statements. C. Measurement Focus, Basis of Accounting and Basis of Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to certain compensated absences and claims and judgments are recognized when the obligations are expected to be liquidated with expendable available financial resources. 27 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) C. Measurement Focus, Basis of Accounting and Basis of Presentation (Continued) Property taxes and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Entitlements and shared revenues are recorded at the time of receipt or earlier if the susceptible to accrual criteria are met. Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other grant requirements have been met. The City applies all applicable Governmental Accounting Standards Board (GASB) pronouncements as well as the following pronouncements issued on or before November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements: FASB Statements and Interpretations, APB Opinions, and ARBs. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing goods and services in connection with a proprietary fund’s ongoing operations. The principal operating revenues of the City’s proprietary funds are charges to customers for sales and services. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenue and expenses not meeting this definition are reported as nonoperating revenues and expenses. The internal service funds account for risk management, worker’s compensation, health insurance, central garage and information services that are provided to other departments or agencies of the government, or to other governments, on a cost-reimbursement basis. Agency funds are custodial in nature and do not measure results of operations or have a measurement focus. Agency funds do however use the accrual basis of accounting. Agency funds are used to account for assets held as an agent for individuals, other governmental units, private organizations and/or other funds. The City reports the following major governmental funds: General fund - To account for resources traditionally associated with government, which are not required legally, or by sound financial management to be accounted for in another fund. Flood and drainage improvement fund - To account for property tax revenues to be used for capital improvements to the flood control and stormwater drainage systems. Tourism and convention fund - To account for transient guest tax revenues, which are specifically restricted to promotion and tourism activities. Special gas fund - To account for the City's share of motor fuel tax revenues, which are legally restricted to the maintenance, or improvement of streets within the City. Bicentennial Center fund - To account for the activities of the City's convention center. Debt service fund - To account for the accumulation of resources and payment of general obligation bond principal and interest from governmental resources and special assessment bond principal and interest from special assessment levies when the City is obligated in some manner for the payment. 28 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) C. Measurement Focus, Basis of Accounting and Basis of Presentation (Continued) Capital projects fund - To account for the acquisition and construction of major capital facilities other than those financed by proprietary funds and trust funds. The City reports the following major proprietary funds: Sanitation fund - To account for the operations of the City's refuse collection service. Solid waste disposal fund - To account for the activities of the City's landfill. Golf course fund - To account for the operations of the municipal golf course. Water and sewer fund - To account for the activities of the City's water and sewer operations. D. Assets, Liabilities and Equity 1. Pooled cash and investments The City maintains a cash and investment pool that is available for use by all funds managed by the city. Each fund type’s portion of this pool is displayed in the financial statements as “Cash and Investments.” The city’s cash and cash equivalents are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition. Investments in the Kansas Municipal Pool are carried at fair value. Cash balances from all funds are invested to the extent available in certificates of deposit and other authorized investments. Investments with maturity dates greater than three months are stated separately. Earnings from these investments, unless specifically designated, are allocated monthly to the investing fund based on the percentage of funds invested to total investments. All investments are carried at fair value. 2. Receivables and Payables Transactions between funds that are representative of lending/borrowing arrangements outstanding at the end of the year are referred to as either “interfund receivables/payables” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds.” Accounts Receivable. The City records revenues when services are provided. All receivables are shown net of an allowance for doubtful accounts. Property taxes receivable. Collection of current year property tax by the County Treasurer is not completed, apportioned or distributed to the various subdivisions until the succeeding year, such procedure being in conformity with governing state statutes. Consequently, current year property taxes receivable are not available as a resource that can be used to finance the current year operations of the City and, therefore, are not susceptible to accrual. Accruals of uncollected current year property taxes are offset by deferred revenue and are identical to the adopted budget for 2011. It is not practicable to apportion delinquent taxes held by the County Treasurer at the end of the accounting period, and further, the amounts thereof are not material in relationship to the financial statements taken as a whole. 29 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Assets, Liabilities and Equity (Continued) 2. Receivables and Payables (Continued) The determination of assessed valuations and the collection of property taxes for all political subdivisions in the State of Kansas are the responsibility of the various counties. The County Appraiser annually determines assessed valuations on January 1 and the County Clerk spreads the annual assessment on the tax rolls. The County Treasurer is the tax collection agent for all taxing entities within the County. In accordance with state statutes, property taxes levied during the current year are a revenue source to be used to finance the budget of the ensuing year. Property taxes are levied and liens against property are placed on November 1 of the year prior to the fiscal year for which they are budgeted. Payments are due November 1, becoming delinquent, with penalty, December 21. Payments of 50% are accepted through December 20, with the second 50% then being due on or before May 10 of the following year. This procedure eliminates the need to issue tax anticipation notes since funds will be on hand prior to the beginning of each fiscal year. The City Treasurer draws down all available funds from the County Treasurer’s office in two-month intervals. Taxes remaining due and unpaid at February 15 and July 1 are subject to collection procedures prescribed in state statutes. 3. Inventories and Prepaid Items Inventories are valued at cost using the first-in/first-out (FIFO) method. The costs of governmental fund-type inventories are recorded as expenditures when consumed. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items. 4. Capital Assets Capital assets, which include property, plant, equipment and infrastructure assets, are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. Capital assets used in governmental fund types of the City are recorded at cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at their estimated fair value at the date of donation. The cost of normal maintenance and repairs that do not add to the value of the assets or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase of capital assets of business-type is included in the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period. Property, plant and equipment of the primary government, are depreciated using the straight-line method over the following estimated useful lives: Assets Years Buildings 50 Other equipment 5 -15 Vehicles 6 -10 Infrastructure 30 -50 30 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Assets, Liabilities, and Equity (Continued) 5. Compensated Absences It is the City’s policy to permit employees to accumulate earned but unused vacation and sick pay benefits. All employees of the City, except temporary and part time employees, may accumulate sick leave at a rate of 8 or 11 hours per month depending on their work duty schedule. There is no limit on the amount of sick leave that can be accumulated. Employees with more than five years of service with the City are paid for one-third of their accumulated sick leave at their current wage scale upon termination of employment in good standing. In 2001, a limited buy back policy was instituted. All regular employees are entitled to paid vacation time. Such leave is granted each year of employment and unused leave may accumulate without limit. Employees are paid for all accumulated vacation leave at their current wage scale upon termination of employment. Vested or accumulated vacation leave that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability in the government fund financial statements that will pay it. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee resignations and retirements. Vested or accumulated vacation leave of the business-type funds and government wide financial statements are recorded as an expense and liability of those funds as the benefits accrue to employees. A liability is recorded for accumulated rights to receive sick pay benefits that are payable upon termination of employment. The General Fund, Bicentennial Center Fund, Central Garage Fund, Information Systems Fund, Sanitation Fund, Solid Waste Fund, Golf Course Fund, and Water and Sewer Fund have been used in prior years to liquidate the liability for compensated absences. 6. Temporary Notes Upon authorization for the issuance of general obligation bonds for certain improvements, Kansas law permits the temporary financing of such improvements by the issuance of temporary notes. Temporary notes issued may not exceed the aggregate amount of bonds authorized, are interest bearing and have a maturity date not later than four years from the date of issuance of such temporary notes. Temporary notes outstanding are retired from the proceeds of the sale of general obligation bonds. 7. Long-term Obligations In the government-wide financial statements, and proprietary fund types in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net assets. Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. 31 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Assets, Liabilities and Equity (Continued) 8. Fund Equity In the fund financial statements, governmental funds report reservations of fund balance amounts that are not appropriable or are legally segregated for a specific purpose. Reservations of business-type net assets are limited to outside third-party restrictions. Designations of fund balance represent tentative management plans that are subject to change. 9. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 10. Net Assets Net assets represent the difference between assets and liabilities. Net assets invested in capital assets, net of related debt consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowings used for the acquisition, construction or improvement of those assets. Net assets are reported as restricted when there are limitations imposed on their use either through the enabling legislation adopted by the City or through external restrictions imposed by creditors, grantors or laws or regulations of other governments. Note 2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY A. Budgetary Information Kansas statutes require that an annual operating budget be legally adopted for the general fund, special revenue funds (unless specifically exempted by statute), debt service fund, and enterprise funds. The statutes provide for the following sequence and timetable in the adoption of the legal annual operating budget: 1. Preparation of the budget for the succeeding year on or before August 1. 2. Publication in local newspaper of the proposed budget and notice of public hearing on the budget on or before August 5. 3. Public hearing on or before August 15, but at least ten days after publication of notice of hearing. 4. Adoption of the final budget on or before August 25. The statutes allow the governing body to increase the originally adopted budget for previously unbudgeted increases in revenue other than ad valorem property taxes. To do this, a notice of public hearing to amend the budget must be published in the local newspaper. At least ten days after publication the hearing may be held and the governing body may amend the budget at that time. The 2010 budget was amended for the General Fund, Special Gas Fund, Bicentennial Center Fund, Arts & Humanities Fund, Sales Tax Capital Fund, Sales Tax Economic Development Fund and Golf Course Fund. 32 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY (Continued) A. Budgetary Information (Continued) The statutes permit management to transfer budgeted amounts between line items within an individual fund. However, such statutes prohibit expenditures in excess of the total amount of the adopted budget of expenditures of individual funds. Budget comparison statements are presented for each fund showing actual receipts and expenditures compared to legally budgeted receipts and expenditures. All legal annual operating budgets are prepared using the statutory basis of accounting, in which, revenues are recognized when cash is received, and expenditures include disbursements, accounts payable, and encumbrances. Encumbrances are commitments by the municipality for future payments and are supported by a document evidencing the commitment, such as a purchase order or contract. All unencumbered appropriations (legal budget expenditure authority) lapse at year end. A legal operating budget is not required for capital projects funds, non-major debt service funds, trust funds, and the following special revenue funds: Bicentennial Center Event, HUD Community Development, Community Development Revolving, Heritage Commission, CDBG-ED, HOME V, Special Law Enforcement, Police Grants, DARE Donations and War Memorial Maintenance. A legal operating budget is not required for the following Enterprise funds: Solid Waste Construction, Water and Sewer Principal and Interest, Water and Sewer Bond Reserve, Water and Sewer Construction and Reserve funds. A legal operating budget is also not required for the Internal Service funds. Actual to budget comparisons for these funds that present budgets to the Commissioners are shown strictly for informational purposes. Spending in funds, which are not subject to the legal annual operating budget requirements are controlled by federal regulations, other statutes, or by the use of internal spending limits established by the governing body. B. Statutory Violations Actual exceeded budgeted expenditures at December 31, 2010 in the Special Parks and Recreation Fund, which violates KSA 79-2935. C. Legal Debt Margin The City is subject to the municipal finance law of the state of Kansas which limits the bonded debt (exclusive of revenue bonds and special assessment bonds) the city may have outstanding to 30 percent of the assessed value of all tangible taxable property within the city, as certified to the county clerk on the proceeding August 25. At December 31, 2010, the statutory limit for the City was $135,951,807, providing a debt margin of $80,902,728. 33 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 3. RESTATEMENT OF EQUITY Following the close of the previous fiscal year, it was discovered that several capital assets were misclassified or recorded incorrectly. Additionally, it was discovered that an accounts payable had not been properly recorded. Accordingly, the beginning net assets balances were restated, the effects of which are as follows: Solid Waste Water and Golf Central Information Governmental Disposal Sewer Sanitation Course Garage Systems Activities Fund Fund Fund Fund Fund Fund Net Assets, December 31, 2009 119,853,666$ 4,121,382$ 55,667,522$ 1,166,051$ 314,440$ 223,898$ 145,178$ Capital Asset Adjustment 1,911,401 28,485 48,728 [10,346] 4,719 [693] [8,917] Accounts Payable Adjustment - [85,513] - - - - - Net Assets, December 31, 2009, Restated 121,765,067$ 4,064,354$ 55,716,250$ 1,155,705$ 319,159$ 223,205$ 136,261$ Note 4. DETAILED NOTES ON ALL FUNDS A. Deposits and Investments The City’s cash is considered to be active funds by management and is invested according to KSA 9-1401. The statute requires that banks eligible to hold active funds have a main or branch bank in the county in which the City is located or in a county adjacent to the City and the banks provide an acceptable rate for active funds. Various City investments are considered to be idle funds by management and are invested according to KSA 12-1675. The statute requires that the City invest its idle funds in only temporary notes of the City, bank certificates of deposit, repurchase agreements, and if eligible banks do not offer an acceptable rate for the funds: U.S. Treasury bills or notes or the Municipal Investment Pool (KMIP). Maturities of the above investments may not exceed two years by statute. Some of the City’s investments are of bond proceeds invested pursuant to KSA 10-131. This statute allows additional investment authority beyond that of KSA 12-1675. Investments of bond proceeds may follow KSA 12-1675 or include other investments such as the KMIP, direct obligations of the U.S. government or any agency thereof, investment agreements with a financial institution the obligations of which at the time of investment are rated in either of the three highest rating categories by Moody’s investors service or Standard and Poor’s corporation, and various other investments as specified in KSA 10-131. At December 31, 2010, the City has the following investments: Investment Type Fair Value Rating Kansas Municipal Investment Pool 3,493,118$ S&P AAAf/S1+ Total fair value 3,493,118$ 34 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) A. Deposits and Investments (Continued) The municipal investment pool is under the oversight of the Pooled Money Investment Board. The board is comprised of the State Treasurer and four additional members appointed by the State Governor. The board reports annually to the Kansas legislature. State pooled monies may be invested in direct obligations of, or obligations that are insured as to principal and interest by the U.S. government or any agency thereof, with maturities up to four years. No more than 10 percent of those funds may be invested in mortgage-backed securities. In addition, the State pool may invest in repurchase agreements with Kansas banks or with primary government securities dealers. The City’s investment policy provides direction on concentration risk. The City policy states that funds shall be diversified to reduce the extent of losses due to having an unbalanced portfolio in terms of maturities, instrument type, and issuers. Therefore, portfolio maturities shall be staggered to avoid undue concentration of assets in a specific maturity sector. Liquidity, free of market risk, shall be assured through practices insuring that the next disbursement date and payroll date are covered through maturing investments, marketable U.S. Treasury Bills, the Municipal Investment Pool, or money market accounts. Default risk shall be minimized by requiring that all security purchases occur on a delivery vs. payment basis, and that all securities are adequately collateralized. Risk of market price volatility shall be controlled through the adoption of a "buy and hold" strategy whereby the City holds each investment to maturity, coupled with maintenance of an adequate liquidity position to insure the ability to meet normal anticipated cash flow needs. When advantageous, it is allowable to sell investments to realize a gain due to price fluctuations; however, such transactions shall not be a part of the normal course of business. The City recognizes that investment risks can result from issuer defaults, market price changes or various technical complications leading to temporary illiquidity. Portfolio diversification is employed as a way to control risk due to issuer default. In the event of a default by a specific issuer, the Director of Finance and Administration shall review, and, if appropriate, proceed to liquidate securities having comparable credit risks. Custodial credit risk is the risk that in the event of a bank failure, the City’s deposits may not be returned to it. The City’s deposit policy for custodial credit risk require that the depository banks will maintain 100% security in the form of FDIC coverage and pledged collateral according to KSA 9-1402. 35 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) B. Receivables Receivables as of year end, including the applicable allowances for doubtful accounts, are as follows: Tourism and Special Bicentennial Debt General Convention Gas Center Service Subtotal Primary Government Receivables: Accounts 2,067,082$ 365,139$ -$ 44,418$ -$ 2,476,639$ Taxes 7,699,277 - 316,843 - 2,716,214 10,732,334 Interest 17,498 - - - - 17,498 Gross receivables 9,783,857 365,139 316,843 44,418 2,716,214 13,226,471 Less: allowance for uncollectibles [1,572,664] - - - - [1,572,664] Total 8,211,193$ 365,139$ 316,843$ 44,418$ 2,716,214$ 11,653,807$ Solid Water Other Waste and Governmental Sanitation Disposal Sewer Total Primary Government Receivables: Accounts 52,801$ 180,145$ 275,134$ 1,242,667$ 4,227,386$ Taxes - - - - 10,732,334 Interest - - 16 - 17,514 Gross receivables 52,801 180,145 275,150 1,242,667 14,977,234 Less: allowance for uncollectibles [588] [42,811] - [295,320] [1,911,383] Total 52,213$ 137,334$ 275,150$ 947,347$ 13,065,851$ Component Units Salina Airport Authority Accounts 211,208$ Less: allowance for uncollectibles [984] 210,224 Taxes 1,833,239 Total Salina Airport Authority 2,043,463 Salina Housing Authority Accounts 83,253 Other 11,981 Total Salina Housing Authority 95,234 Total 2,138,697$ C. Interfund Receivables and Payables The composition of interfund balances as of December 31, 2010, is as follows: Fund Types Due From Due To General Fund 58,031$ -$ Other Government Funds - 58,031 58,031$ 58,031$ The City uses interfund receivables and payables as needed when pooled cash is negative within a fund until investments mature or grant proceeds are received. All payables are cleared in less than one year. 36 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) D. Capital Assets Capital asset activity for the year ended December 31, 2010, was as follows: Balance Adj. Bal. Balance 12/31/2009 Adjustments 12/31/2009 Additions Retirements 12/31/2010 City governmental activities: Governmental activities: Capital assets, not being depreciated Construction in progress 34,037,838$ 1,469,499$ 35,507,337$ 14,581,177$ 17,539,359$ 32,549,155$ Land 22,477,191 - 22,477,191 - - 22,477,191 Capital assets, being depreciated Infrastructure 137,864,180 525,084 138,389,264 5,927,032 - 144,316,296 Buildings and improvements 24,835,674 - 24,835,674 11,398,126 - 36,233,800 Vehicles 7,632,021 [11,975] 7,620,046 502,256 642,269 7,480,033 Equipment, furniture and fixtures 5,402,874 [87,617] 5,315,257 38,425 - 5,353,682 Total capital assets 232,249,778 1,894,991 234,144,769 32,447,016 18,181,628 248,410,157 Less accumulated depreciation for: Infrastructure 57,657,811 6,286 57,664,097 2,939,700 - 60,603,797 Buildings and improvements 11,575,370 293 11,575,663 1,033,469 - 12,609,132 Vehicles 5,146,849 6,142 5,152,991 476,758 594,375 5,035,374 Equipment, furniture and fixtures 3,828,476 [29,131] 3,799,345 240,360 - 4,039,705 Total accumulated depreciation 78,208,506 [16,410] 78,192,096 4,690,287 594,375 82,288,008 Governmental activities capital assets, net 154,041,272$ 1,911,401$ 155,952,673$ 27,756,729$ 17,587,253$ 166,122,149$ Business-type activities: Capital assets, not being depreciated Construction in progress 1,604,953$ 166,701$ 1,771,654$ 1,451,059$ 1,706,109$ 1,516,604$ Land 1,541,002 - 1,541,002 - - 1,541,002 Capital assets, being depreciated Infrastructure 67,049,286 [11,931] 67,037,355 1,920,310 - 68,957,665 Buildings and improvements 22,587,106 - 22,587,106 - - 22,587,106 Vehicles 2,901,405 [44,812] 2,856,593 217,443 86,296 2,987,740 Equipment, furniture and fixtures 4,407,079 [49,843] 4,357,236 717,291 697,802 4,376,725 Total capital assets 100,090,831 60,115 100,150,946 4,306,103 2,490,207 101,966,842 Less accumulated depreciation for: Infrastructure 27,245,924 [584] 27,245,340 1,727,948 - 28,973,288 Buildings and improvements 9,798,497 2,070 9,800,567 441,303 - 10,241,870 Vehicles 1,972,535 [11,317] 1,961,218 209,469 86,296 2,084,391 Equipment, furniture and fixtures 2,500,449 [1,640] 2,498,809 283,941 388,394 2,394,356 Total accumulated depreciation 41,517,405 [11,471] 41,505,934 2,662,661 474,690 43,693,905 Business-type activities capital assets, net 58,573,426$ 71,586$ 58,645,012$ 1,643,442$ 2,015,517$ 58,272,937$ 37 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) D. Capital Assets (Continued) The City’s depreciation expense was charged to governmental functions as follows: Governmental Activities: General government 15,227$ Public safety 457,167 Public works 3,261,042 Public health 33,392 Culture and recreation 817,342 Planning and development 106,117 Total depreciation 4,690,287$ Business-type Activities: Solid Waste Disposal 741,007$ Water and Sewer 1,767,504 Sanitation 110,065 Golf Course Division 44,085 Total depreciation 2,662,661$ E. Long-Term Debt Following is a summary of changes in long-term debt for fiscal year 2010: Balance Balance Amounts January 1, December 31, Due Within 2010 Additions Deletions 2010 One Year Governmental activities: General obligation bonds 52,067,590$ 7,081,231$ 6,027,868$ 53,120,953$ 4,491,133$ Accrued compensation 3,461,170 1,364,121 1,594,803 3,230,488 1,594,804 Temporary notes - 2,500,000 - 2,500,000 - Total 55,528,760$ 10,945,352$ 7,622,671$ 58,851,441$ 6,085,937$ Business-type activities: General obligation bonds 2,156,770$ 7,808,405$ 1,350,598$ 8,614,577$ 1,388,805$ Revenue bonds 2,320,000 - 740,000 1,580,000 770,000 Loans payable 5,862,516 - 5,862,516 - - Accrued compensation 711,562 285,865 329,659 667,768 329,660 Total 11,050,848$ 8,094,270$ 8,282,773$ 10,862,345$ 2,488,465$ Component Units: General obligation bonds 13,782,154$ -$ 990,000$ 12,792,154$ 1,040,000$ Financing lease 323,500 - 37,704 285,796 40,238 Temporary notes 7,050,000 11,652,467 7,050,000 11,652,467 - Special assessment debt 207,948 - 62,649 145,299 20,286 Total component units 21,363,602$ 11,652,467$ 8,140,353$ 24,875,716$ 1,100,524$ 38 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) The following is a detailed listing of the city’s long-term debt including general obligation bonds, revenue bonds, temporary notes and loans payable: Primary Government Original Interest Bonds General Obligation Bonds Issue Rates Outstanding Internal Improvements 2001, due 10/1/2016 5,350,000$ 4.00% to 4.90% 355,000$ Internal Improvements 2002B, due 10/1/2017 1,980,000 2.70% to 4.50% 330,000 Internal Improvements 2003A, due 10/1/2018 4,350,000 2.13% to 3.85% 2,085,000 Refunding 2004A, due 8/1/2015 5,585,000 2.10% to 4.00% 1,585,000 Internal Improvements 2004B, due 10/1/2019 4,053,000 3.00% to 4.00% 1,770,000 Internal Improvements 2005A, due 10/1/2020 4,210,000 2.95% to 4.25% 2,535,000 Internal Improvements 2006A, due 10/1/2026 2,200,000 3.55% to 5.50% 1,760,000 Internal Improvements 2006B, due 10/1/2021 885,000 4.00% to 4.50% 605,000 Internal Improvements 2007A, due 10/1/2027 6,545,000 4.25% to 4.625% 5,450,000 Internal Improvements 2008A, due 10/1/2023 3,720,000 3.25% to 4.00% 3,250,000 Internal Improvements 2008B, due 7/1/2028 3,525,000 3.65% to 5.00% 3,525,000 Internal Improvements 2009A, due 10/1/2029 23,695,000 2.00% to 5.00% 23,595,892 Internal Improvements 2010A, due 10/1/2025 6,875,000 2.00% to 3.875% 6,916,592 Internal Improvements 2010B, due 10/1/2023 7,860,000 0.50% to 3.00% 7,973,044 Total general obligation bonds 61,735,528$ Revenue Bonds Revenue Refunding 2002A, due 9/1/2012 6,790,000$ 2.20% to 4.25% 1,580,000$ Total revenue bonds 1,580,000$ Temporary Notes Series 2010-1, due 8/1/2011 2,500,000$ 1.00% 2,500,000$ Total revenue bonds 2,500,000$ 39 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) Original Interest Bonds Issue Rates Outstanding Component Unit Salina Airport Authority General Obligation Bonds General Obligation 2001A, due 2012 1,385,000$ 4.45% to 5.60% 340,000$ General Obligation 2002A, due 2012 2,635,000 2.45% to 3.70% 600,000 General Obligation 2005A, due 2020 3,635,000 4.75% to 5.25% 3,180,000 General Obligation 2007A, due 2022 1,005,000 4.60% to 6.00% 850,000 General Obligation 2009A, due 2029 2,025,000 4.20% to 4.25% 1,932,154 General Obligation 2009B, due 2026 6,080,000 3.00% to 5.50%5,890,000 Total general obligation bonds 12,792,154 Temporary Notes Series 2010-1, due 2012 11,675,000 1.075%11,652,467 Total temporary notes 11,652,467 Special Assessment Debt Airport Industrial Center, due 2016 565,235 3.79% 123,392 Hangar 600 Sanitary Sewer, due 2021 27,599 4.47%21,907 Total special assessment debt 145,299 Financing Lease, due 2015 425,000 6.609%285,796 Total 24,875,716$ Annual debt service requirements to maturity for general obligation bonds to be paid with tax levies: Bonds Interest Year Outstanding Due Total 2011 5,879,937$ 2,246,785$ 8,126,722$ 2012 5,999,937 2,012,951 8,012,888 2013 5,984,937 1,802,224 7,787,161 2014 5,649,937 1,593,284 7,243,221 2015 4,839,937 1,417,192 6,257,129 2016-2020 20,464,684 4,602,472 25,067,156 2021-2025 9,742,287 1,682,673 11,424,960 2026-2028 3,173,872 281,450 3,455,322 Total 61,735,528$ 15,639,031$ 77,374,559$ General Obligation - Primary Government 40 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) Bonds Interest Year Outstanding Due Total 2011 1,040,000$ 592,272$ 1,632,272$ 2012 1,090,000 548,424 1,638,424 2013 635,000 501,950 1,136,950 2014 665,000 475,503 1,140,503 2015 695,000 447,280 1,142,280 2016-2020 3,995,000 1,742,003 5,737,003 2021-2025 2,475,000 894,080 3,369,080 2026-2029 2,290,000 251,242 2,541,242 Total 12,885,000$ 5,452,754$ 18,337,754$ General Obligation - Component Units Annual debt service requirements to maturity for revenue bonds to be paid with utility revenues: Bonds Interest Year Outstanding Due Total 2011 770,000$ 64,070$ 834,070$ 2012 810,000 34,425 844,425 Total 1,580,000$ 98,495$ 1,678,495$ Revenue Bonds - Primary Government Annual debt service requirements to maturity for temporary notes - to be paid through the issuance of general obligation bonds: Bonds Interest Year Outstanding Due Total 2011 2,500,000$ 31,250$ 2,531,250$ Temporary Notes - Primary Government Notes Interest Year Outstanding Due Total 2011 11,675,000$ 171,298$ 11,846,298$ Temporary Notes - Component Units 41 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) Annual debt service requirements to maturity for financing lease - to be paid from rental revenue: Lease Interest Year Outstanding Due Total 2011 40,238$ 18,234$ 58,472$ 2012 42,941 15,531 58,472 2013 45,826 12,646 58,472 2014 48,905 9,567 58,472 2015 52,190 6,282 58,472 2016 55,696 2,776 58,472 Total 285,796$ 65,036$ 350,832$ Financing Lease - Component Units Annual debt service requirement to maturity for Special Assessment Debt to be paid from rental revenue: Assessment Interest Year Outstanding Due Total 2011 20,286$ 5,656$ 25,942$ 2012 21,066 4,876 25,942 2013 21,876 4,067 25,943 2014 22,717 3,226 25,943 2015 23,590 2,352 25,942 2016-2020 33,310 2,891 36,201 2021-2025 2,454 110 2,564 Total 145,299$ 23,178$ 168,477$ Special Assessment Debt - Component Units 42 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) Special assessments. As provided by Kansas statutes, projects financed in part by special assessments are financed through general obligation bonds of the City and are retired from the debt service fund. Special assessments paid prior to the issuance of bonds are recorded as revenue in the appropriate project. Special assessments received after the issuance of bonds are recorded as revenue in the debt service fund. The special assessments are not recorded as revenue when levied against the respective property owners as such amounts are not available to finance current year operations. The special assessment debt is a contingent obligation of the City to the extent of property owner defaults, which have historically been immaterial. Conduit debt. The City has entered into several conduit debt arrangements wherein the City issues industrial revenue bonds to finance a portion of the construction of facilities by private enterprises. In return, the private enterprises have executed mortgage notes or leases with the City. The City is not responsible for payment of the original bonds, but rather the debt is secured only by the cash payments agreed to be paid by the private enterprises under the terms of the mortgage or lease agreements. Generally, the conduit debt is arranged so that payments required by the private enterprises are equal to the mortgage payments schedule related to the original debt. At December 31, 2010, total outstanding conduit debt was $94,106,214. Defeased debt. On October 15, 2010, the City issued $7,860,000 of Series 2010B general obligation refunding bonds with interest ranging from 0.5 to 3.0%, $5,721,636 of which was used to current refund all $2,086,419 of the outstanding Kansas Public Water Supply Loan No. 2153 with an interest rate of 4.29% and all $3,577,234 of the outstanding Kansas Public Water Supply Loan No. 2259 with an interest rate of 4.13%. Additionally, $2,251,407 of the proceeds were used to advance refund $1,775,000 of the Series 2001 General Obligation Internal Improvement Bonds with interest rates ranging from 4.50% to 4.90% and $325,000 of the Series 2002B General Obligation Internal Improvement Bonds with interest rates ranging from 4.10% to 4.50%. The net proceeds were used to establish an escrow account invested in U.S. Government Securities to pay the outstanding principal of the Series 2001 General Obligation Internal Improvement Bonds, the outstanding principal of the Series 2002B General Obligation Internal Improvement Bonds and the interest due on the refunding general obligation bonds. As a result, these portions of the 2001 and 2002B bonds were considered to be defeased and the liability for the defeased bonds has been removed from the City's financial statements. The combined refunding transactions resulted in an economic gain of $760,626 and a reduction of $751,673 in future debt payments. On May 1, 2010, the City issued $6,875,000 of Series 2010A general internal improvement and refunding bonds with interest rates ranging from 2.00 to 3.875%, $824,341 of which was used to current refund all $820,000 of the outstanding Series 2002A General Obligation Water/sewer Refunding Bonds with interest rates ranging from 4.20% to 4.50%. The transaction resulted in an economic gain of $41,141 and a reduction of $45,622 in future debt payments. 43 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) F. Reconciliation of Transfers A reconciliation of interfund transfers follows: Transfer In Transfer Out Major Funds: General fund 902,234$ 984,358$ Tourism and convention fund - 549,883 Special gas fund 180,000 - Bicentennial center fund 992,794 - Debt service 2,000,000 - Capital project fund 511,667 399,593 Other governmental funds 489,358 3,050,000 Solid waste disposal fund 193,708 333,234 Water and sewer fund 77,307 - Sanitation fund - 50,000 Golf course fund 20,000 - Total Transfers 5,367,068$ 5,367,068$ The City uses interfund transfers to share administrative costs between funds. Note 5. OTHER INFORMATION A. Defined Benefit Pension Plan Plan description. The City participates in the Kansas Public Employees Retirement System (KPERS) and the Kansas Police and Firemen’s Retirement System (KP&F). Both are cost-sharing multiple-employer defined benefit pension plans as provided by Kansas statutes (KSA 74-4901 et seq). KPERS and KP&F provide retirement benefits, life insurance, disability income benefits and death benefits. Kansas law established and amends benefit provisions. KPERS and KP&F issue a publicly available financial report that includes financial statements and required supplementary information. Those reports may be obtained by writing to 611 South Kansas, Suite 100; Topeka, Kansas 66603 or by calling 1-888-275-5737. Funding Policy. K.S.A. 74-4919 establishes the KPERS member-employee contribution rate at up to 6% of covered salary. K.S.A. 74-4975 establishes the KP&F member-employee contribution rate at 7% of covered salary. The employer collects and remits member-employee contributions according to the provisions of section 414 (h) of the Internal Revenue Code. State law provides that the employer contribution rates be determined annually based on the results of an annual actuarial valuation. KPERS and KP&F are funded on an actuarial reserve basis. State law sets a limitation on annual increases in the employer contribution rates. The KPERS employer rate was 7.38% from January 1 to March, 31, 2010, 6.38% from April 1 to June 30, 2010 and 7.38% from July to December 31, 2010. The City employer contributions to KPERS for the years ending December 31, 2010, 2009, and 2008 were $1,039,728, $831,493 and $789,277, respectively, equal to the required contributions for each year. The KP&F employer rate established for fiscal years beginning in 2010 is 16.05%. Employers participating in KP&F also make contributions to amortize the liability for past service costs, if any, which are determined separately for each participating employer. The City's contributions to KP&F for the years ended December 31, 2010, 2009, and 2008 were $1,664,356, $1,769,379 and $1,722,988, respectively, equal to the required contributions for each year. B. Deferred Compensation Plan The City offers its employees a deferred compensation plan ("Plan") created in accordance with Internal Revenue Code Section 457. The Plan, available to all City employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. Plan assets are transferred to a plan agent in a custodial trust and are not available to the claims of the City's general creditors. 44 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 5. OTHER INFORMATION (Continued) C. Flexible Benefit Plan (I.R.C. Section 125) The City Commission has adopted by resolution a salary reduction flexible benefit plan ("Plan") under Section 125 of the Internal Revenue Code. All City employees working more than 20 hours per week are eligible to participate in the Plan beginning after two full months of employment. Each participant may elect to reduce his or her salary to purchase benefits offered through the Plan. Benefits offered through the Plan include various insurance and disability benefits. D. Risk Management The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions; natural disasters and other events for which the City carries commercial insurance. No significant reductions in insurance coverage from that of the prior year have occurred. Settlements have not exceeded insurance coverage for each of the past three years. The City has established a limited risk management program for workers’ compensation. The program covers all City employees. Premiums are paid into the Workers’ Compensation Reserve Fund by all other funds and are available to pay claims, claim reserves and administrative costs of the program. An excess coverage insurance policy covers individual claims in excess of $250,000 ($350,000 for claims involving employees classified as policemen or firemen). Incurred claims, including incurred but not reported claims, have been accrued based primarily upon subsequent payments. Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends including frequency and amounts of payouts and other economic and social factors. The liability for claims and judgments is reported in the Workers' Compensation Reserve Fund because it is expected to be liquidated with expendable available financial resources. Of the liability, $180,375 is considered to be due within one year. Changes in the balances of claims liabilities during the past two years are as follows: 2010 2009 Unpaid claims, January 1 372,610$ 430,619$ Incurred claims (including IBNRs) 409,801 220,684 Claim payments [356,829] [278,693] Unpaid claims, December 31 425,582$ 372,610$ The City established a limited risk management program for employee health and dental insurance in 1997. The program covers eligible City employees. Premiums are paid into the health insurance fund by all other funds and are available to pay claims, claim reserves and administrative costs of the program. An excess coverage insurance policy covers individual claims in excess of $50,000. Incurred claims, including incurred but not reported claims, have been accrued based primarily upon subsequent payments. Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends including frequency and amounts of payouts and other economic and social factors. The liability for claims and judgments in the Health Insurance Fund because it is expected to be liquidated with expendable available financial resources. Therefore, all of the liability is considered to be due within one year. Changes in the balances of claims liabilities during the past two years are as follows: 2010 2009 Unpaid claims, January 1 421,530$ 375,084$ Incurred claims (including IBNRs) 4,198,012 4,500,244 Claim payments [4,237,040] [4,453,798] Unpaid claims, December 31 382,502$ 421,530$ 45 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 5. OTHER INFORMATION (Continued) E. Capital Projects Capital projects often extend over two or more fiscal years. The following is a schedule, which compares the project authorization including allowable interest revenue to total project expenditures from project inception to December 31, 2010. Project Authorization Expenditures N Ohio Grade Separation 6,200,000$ 6,189,540$ Pacific Avenue 300,000 530,297 Bicentennial Improvements 2,500,000 2,345,977 Markley, Magnolia, Valleyview Sanitary Sewer Improvements and Manhole and Wastewater Pump Station Rehabilitation 5,150,000 1,054,615 Bergkamp Subdivisions 185,000 155,235 Grand Prairie Addition 1,618,096 1,422,237 Magnolia Commons 3,415,564 101,337 Salina Aquatics Facility 12,500,000 11,315,517 South 9th Corridor, Phase IV 6,500,000 5,942,887 Scoular Addition Waterline Imp. 75,453 48,674 Landfill Cell 5 Construction 1,600,000 1,642,852 Stone Creek Addition 440,193 324,404 Riffel # 2 Infrastructure 977,917 5,141 East Magnolia Road Replacement 4,500,000 326,921 Project overages in the Pacific Avenue project will be reimbursed by special sales tax proceeds. F. Contingent Liabilities The City receives significant financial assistance from numerous federal and state governmental agencies in the form of grants and state pass-through aid. The disbursement of funds received under these programs generally requires compliance with terms and conditions specified in the grant agreements and is subject to audit. Any disallowed claims resulting from such audits could become a liability of the General Fund or other applicable funds. However, in the opinion of management, any such disallowed claims would not have a material effect on any of the financial statements of the City at December 31, 2010. The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, it is the opinion of the City's legal counsel that resolution of these matters will not have a material adverse effect on the financial condition of the City. G. Municipal Solid Waste Landfill State and federal laws and regulations require the City to place a final cover on its landfill site when it stops accepting waste, and to perform certain maintenance and monitoring functions at the site for thirty years after closure. Although closure and postclosure care costs will be paid only near or after the date that the landfill stops accepting waste, the City reports a portion of these closure and postclosure care costs as an operating expense of the solid waste fund in each period based on landfill capacity used as of each balance sheet date. The $1,909,188 reported as landfill closure and postclosure care liability at December 31 represents the cumulative amount reported to date based on the use of 28.2% of the estimated capacity of the landfill. 46 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 5. OTHER INFORMATION (Continued) G. Municipal Solid Waste Landfill (Continued) The City's solid waste fund will recognize the remaining estimate cost of closure and postclosure care of $4,857,555 as the remaining estimated capacity is filled over the remaining life expectancy of 87.5 years. These amounts are based on what it would cost to perform all closure and postclosure care in 2010. Actual cost may be higher due to inflation, changes, in technology or changes in regulations. The City is required by State and Federal laws and regulations to provide assurances of financial responsibility for closure and post- closure care. The City has elected to utilize the Local Government Financial test promulgated by the U.S. Environmental Protection Agency (at 40 CFR 258.74(f)) and the Kansas Department of Health and Environment to provide these assurances. Any future closure or post-closure care costs will be provided through the normal budgeting and rate setting process, including the issuance of general obligation bonds, if necessary. H. Environmental Matters The Kansas Department of Health and Environment (KDHE) issued a report in 1994 indicating the presence of volatile organic compounds at levels requiring remediation at the Salina Public Water Supply Wells Site (the Site). The City adopted a proactive Policy and Action Plan to remediate the groundwater contamination, and on December 7, 1994, the City and KDHE entered into a Consent Order and Settlement Agreement under which the City assumed primary responsibility for the further investigation and remediation of the groundwater contamination. Field testing work has been completed. The necessary remediation work will be conducted over the next several years at a yet undetermined cost to the City's Water and Sewer Fund. The U.S. Department of Defense transferred property located at the former Schilling Air Force Base to the Authority on or about September 9, 1966. The property is now known to contain areas of extensive soil and groundwater contamination, as a result of the use and disposal of chlorinated solvents during military operations at the former base during its period of active military duty from 1942 to 1965. The U.S. Department of Defense is responsible for the investigation and remediation of contamination caused by military activities at current and former military bases. The U.S. Army Corps of Engineers (USACE) is the lead agency for the Department at formerly used defense sites. The Corps has investigated the soil and groundwater contamination at the former base under the regulatory oversight of the U.S. Environmental Protection Agency and the Kansas Department of Health and Environment. The former base is not designated as a National Priority List Superfund site, but investigation and remediation is required to be in compliance with the Comprehensive Environmental Response, Compensation and Liability Act. Potential liability for contamination under the Act extends broadly to parties associated with the release or presence of hazardous substances, including not only those entities involved with contaminant use and disposal, but in some cases other current and former owners and operators of contaminated sites. As a current owner of extensive amounts of property at the former base, the Authority is potentially liable under the act although the Authority believes that it has defenses to such liability. Based on presently known information, the Authority has determined that while a possible liability exists, it is not probable and at this time no reasonable estimate of the possible liability can be made. Therefore, no liability relating to that matter has been recorded. The Authority is under no administrative orders from the U.S. Environmental Protection Agency or the Kansas Department of Health and Environment. The Authority is considered to be a Potentially Responsible Party for the former base site, primarily due to its status as a property owner. The Salina Airport Authority, City of Salina, Unified School District No. 305 and the Kansas Board of Regents (Kansas State University at Salina) collectively own over 90% of the nearly 4,000 acres of the former Schilling Air Force Base property. 47 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 5. OTHER INFORMATION (Continued) H. Environmental Matters (Continued) Beginning in August 2007, the four local public entities including the Salina Airport Authority, the City of Salina, the Salina School District and Kansas State University at Salina initiated negotiations with the U.S. Federal Government. The negotiation objectives include transferring the responsibility for completing the cleanup from the USACE to the Salina Public Entities. The local objective is to reach a settlement agreement with the United States of America that provides the Salina Public Entities sufficient funds to complete cleanup operations over a 30-year period. During calendar year 2008, the Salina Public Entities prepared a detailed Cost to Complete Estimate (CTC). The CTC preparation included consultation with the EPA and KDHE. The Salina Public Entities’ CTC was completed in June of 2008 and submitted to the USACE. Subsequently, on January 23, 2009, the Salina Public Entities delivered a demand letter to the USACE. The letter demands that settlement negotiations begin immediately with the U.S. Department of Justice. On May 14, 2009 the Authority was notified that the USACE referred the former SAFB demand letter to the U.S. Department of Justice on May 12, 2009. The Salina Public Entities delivered on or about May 10, 2010, a settlement offer and a draft of a lawsuit complaint to the attorney for the U.S. Department of Justice. The Salina Public Entities planned to file suit against the United States if the matter was not settled by the end of May, 2010. The Salina Public Entities do not intend to cut off settlement negotiations by the filing of suit, and this has been communicated to the United States. No remedial action plan or record of decision has been adopted by the Corps, EPA or KDHE. On or about May 27, 2010, the Salina Public Entities filed their Complaint against the United States of America, the United States Department of Defense and Secretary of Defense, Robert M. Gates, in his official capacity (collectively, "Defendants"). On or about September 22, 2010, the Salina Public Entities filed their First Amended Complaint in four counts. On or about October 6, 2010, Defendants filed their motion to dismiss and to strike. On or about March 25, 2011, Judge Murguia entered his Memorandum and Order. The Judge granted the Defendants' motion to dismiss Counts I and II (citizen suit claims) for lack of subject matter jurisdiction. He also granted the Defendants' motion to dismiss the Salina Public Entities' requests for attorney fees, with the exception of non- litigation attorney fees. He denied the Defendants' motion to strike the Salina Public Entities' allegations of conflict of interest. The Salina Public Entities' claims under Counts II and IV for response costs under CERCLA 9607(a) are not affected by the Judge's rulings. The Salina Public Entities disagree with most of the Judge's filings and plan to take an interlocutory appeal to the Tenth Circuit to contest the rulings. On or about April 22, 2011, Defendants filed their Answer to First Amended Complaint and Counterclaim against the Salina Public Entities. Count I of the Counterclaim alleges a claim for contribution under CERCLA, 42 U.S.C.§ 9613(f)(1). Count II of the Counterclaim alleges a claim for cost recovery under CERCLA, 42 U.S.C.§ 9607(a)(1). Count II alleges costs incurred by the U.S. Environmental Protection Agency of approximately $1,838,241 as of September 30, 2007, and alleges costs incurred by the Corps of approximately $14,915,228 as of April 17, 2009. The Salina Public Entities intend to vigorously contest the claims brought against them and will assert, among other defenses, the third party defense under 42 U.S.C.§ 9607(b)(3). The parties have agreed on mediation to discuss settlement. The mediation sessions are scheduled to begin on October 25, 2011. 48 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 5. OTHER INFORMATION (Continued) H. Environmental Matters (Continued) In the Stipulation by Plaintiffs and Defendants filed in U.S. District Court on June 17, 2011, the U.S., on behalf of the Corps, admitted that: "At some point or points between 1942 and 1965, during the time the United States owned or operated the Site, military personnel of the United States used, disposed of and caused the release of hazardous substances at the Site." This is a significant item for the Salina Public Entities as it is the first time since the U.S., on behalf of the Corps, began its investigation in 1991 that the federal government has provided such an admission. I. Postemployment Health Care Plan Plan Description. The City operates a single employer defined benefit healthcare plan administered by the City. The Employee Benefit Plan (the Plan) provides medical and dental benefits to eligible early retirees and their spouses. KSA 12-5040 requires all local governmental entities in the state that provide a group health care plan to make participation available to all retirees and dependents until the retiree reaches the age of 65 years. No separate financial report is issued for the Plan. Funding Policy. The contribution requirements of plan participants and the City are established and amended by the City. The required contribution is based on projected pay-as-you-go financing requirements. Plan participants contributed approximately $100,000 to the Plan (approximately 100% of total premiums) through their required contribution of $425 per month for retiree-only coverage and $1,141 for family coverage. Annual OPEB Cost and Net OPEB Obligation. The City’s annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the City’s annual OPEB cost for the Plan for the year, the amount actually contributed to the plan, and the changes in the City’s net OPEB obligation to the Plan: Annual required contribution 910,351$ Interest on Net OPEB Obligation 66,844 Adjustment to Annual Required Contribution [55,703] Annual OPEB cost (expense) 921,492 Benefit payments 199,000 Change in net OPEB obligation 722,492 Net OPEB obligation - beginning of year 1,671,099 Net OPEB obligation - end of year 2,393,591$ 49 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2010 Note 5. OTHER INFORMATION (Continued) I. Postemployment Health Care Plan (Continued) The City’s annual OPEB cost, the percentage of annual OPEB cost contributed to the Plan, and the net OPEB obligation for the year ended December 31, 2010 was as follows: Annual Fiscal Annual OPEB Net Year OPEB Cost OPEB Ended Cost Contributed Obligation December 31, 2008 910,418$ 96,672$ 813,746$ December 31, 2009 957,353 100,000 1,671,099 December 31, 2010 921,492 199,000 2,393,591 Funding Status and Funding Progress. As of the year ended December 31, 2010, the most recent actuarial valuation date, the Plan was not funded. The actuarial accrued liability for benefits was $9,019,806 and the actuarial value of asset was $0, resulting in an unfunded actuarial accrued liability (UAAL) of $9,019,806. The covered payroll (annual payroll of active employees covered by the plan) was $22,613,236, and the ratio of the UAAL to the covered payroll was 39.89%. Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to the financial statement, presents multiyear trend information about whether the actuarial value of plan assets (if any) are increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. Actuarial Methods and Assumptions. Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan participants) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan participants to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations. In the year ended December 31, 2010, actuarial valuation, the projected unit credit actuarial cost method was used. The actuarial assumptions include a 4.00% investment rate of return, which is the rate of the employer’s own investments as there are no plan assets and an initial annual medical and dental healthcare cost trend of 9.30%, reduced by decrements to an ultimate rate 4.70% after eighty-two years. The UAAL is being amortized as a level dollar over an open thirty-year period. J. Related Party Transactions The City paid $749 during the year ended December 31, 2010, to a travel agency owned by a City Commissioner. REQUIRED SUPPLEMENTARY INFORMATION 50 CITY OF SALINA, KANSAS OTHER POST-EMPLOYMENT BENEFITS REQUIRED SUPPLEMENTARY INFORMATION December 31, 2010 Schedule of Employer Contributions: Annual Fiscal Annual OPEB Net Year OPEB Cost OPEB Ended Cost Contributed Obligation December 31, 2008 910,418$ 96,672$ 813,746$ December 31, 2009 957,353 100,000 1,671,099 December 31, 2010 921,492 199,000 2,393,591 Schedule of Funding Progress: UAAL as Actuarial Actuarial Actuarial Unfunded Funded Covered Percent of Valuation Value of Accrued AAL Ratio Payroll Payroll Date Assets (a)Liability (b)(b) - (a)(a/b)(c)(b-a)/(c) 12/31/2008 -$ 8,917,346$ 8,917,346$ 0.0% 21,874,112$ 40.77% 12/31/2009 - 8,917,346 8,917,346 0.0% 22,397,996 39.81% 12/31/2010 - 9,019,806 9,019,806 0.0% 22,613,236 39.89% CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) GENERAL FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Real estate taxes 7,573,282$7,634,381$7,634,381$[61,099]$ Delinquent taxes 229,123 286,697 286,697 [57,574] Motor vehicle taxes 961,648 1,016,084 1,207,040 [245,392] General sales tax 11,117,078 12,084,152 11,600,000 [482,922] Other taxes 4,169,205 4,533,500 4,238,781 [69,576] Total taxes 24,050,336 25,554,814 24,966,899 [916,563] Charges for Services General charges 300 --300 General government 495 7,725 7,725 [7,230] Public safety 3,668,048 3,593,889 3,719,331 [51,283] Public works 196,095 131,000 131,000 65,095 Health and sanitation 45,331 45,551 54,000 [8,669] Culture and recreation 1,169,105 1,021,838 1,121,838 47,267 Community and economic development 9,979 8,652 8,652 1,327 Total charges for services 5,089,353 4,808,655 5,042,546 46,807 Operating grants, restricted General grants 186,206 190,000 185,000 1,206 Public safety 822,277 1,065,665 1,225,000 [402,723] Budgeted Amounts See independent auditor's report on the financial statements. 51 Public safety 822,277 1,065,665 1,225,000 [402,723] Total operating grants, restricted 1,008,483 1,255,665 1,410,000 [401,517] Operating grants, unrestricted General grants 1,050 --1,050 Public safety 500 --500 Public works 328 3,000 3,000 [2,672] Total operating grants, unrestricted 1,878 3,000 3,000 [1,122] Interest income General interest -40,000 40,000 [40,000] Total interest income -40,000 40,000 [40,000] Interfund services provided General services 913,896 878,835 878,835 35,061 General government 1,972,316 1,242,376 1,242,376 729,940 Community and economic development 50,561 50,501 50,501 60 Total interfund services provided 2,936,773 2,171,712 2,171,712 765,061 Miscellaneous revenues General miscellaneous revenues 72,710 120,000 120,000 [47,290] General government 125 --125 Public safety 228,003 198,000 198,000 30,003 Public works 3,550 10,000 10,000 [6,450] Culture and recreation 41,103 25,000 25,000 16,103 Community and economic development 907 --907 Total miscellaneous revenues 346,398 353,000 353,000 [6,602] Proceeds of capital assets General sales -30,000 30,000 [30,000] Total proceeds of capital assets -30,000 30,000 [30,000] Total revenues 33,433,221 34,216,846 34,017,157 [583,936] See independent auditor's report on the financial statements. 51 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) GENERAL FUND (Continued) For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Expenditures General Government City commission 120,210$112,383$112,383$[7,827]$ City manager 544,435 580,736 560,736 16,301 Legal 388,819 305,300 305,300 [83,519] Finance 524,915 546,434 546,434 21,519 Human resources 325,451 335,055 349,633 24,182 Other general government 518,101 4,446,654 5,031,849 4,513,748 Contingencies 128,374 50,000 100,000 [28,374] Total general government 2,550,305 6,376,562 7,006,335 4,456,030 Public Safety Police 8,341,040 8,416,349 8,273,449 [67,591] Municipal court 1,629,919 1,684,239 1,628,516 [1,403] Fire 8,081,319 7,813,687 7,739,180 [342,139] Contingencies 4,794 --[4,794] Total public safety 18,057,072 17,914,275 17,641,145 [415,927] Public Works Buildings and general improvements 964,764 948,433 905,090 [59,674] Engineering 1,033,044 1,003,749 978,496 [54,548] Streets 1,788,589 1,923,548 1,849,143 60,554 Budgeted Amounts See independent auditor's report on the financial statements. 52 Streets 1,788,589 1,923,548 1,849,143 60,554 Flood works 218,398 225,098 220,218 1,820 Traffic control 774,104 784,872 751,217 [22,887] Parks 1,419,674 1,565,768 1,481,399 61,725 ADA compliance 14,034 15,000 15,000 966 Total public works 6,212,607 6,466,468 6,200,563 [12,044] Public Health and Sanitation Cemetery 158,642 157,130 152,880 [5,762] Health department 1,018,101 1,018,040 1,018,040 [61] Total public health and sanitation 1,176,743 1,175,170 1,170,920 [5,823] Culture and Recreation Swimming pools 488,862 404,838 404,838 [84,024] Neighborhood centers 47,778 49,444 47,258 [520] Recreation 1,597,349 1,599,705 1,556,845 [40,504] Arts and humanities 2,793 --[2,793] Smoky Hill museum 461,705 472,963 446,363 [15,342] Total culture and recreation 2,598,487 2,526,950 2,455,304 [143,183] Community Development Human relations 314,904 352,001 331,709 16,805 Development services 1,365,863 1,457,561 1,320,821 [45,042] Agency contracts 728,220 728,140 728,140 [80] Total community development 2,408,987 2,537,702 2,380,670 [28,317] Capital Outlay Capital outlay 383,796 972,135 611,430 227,634 Total expenditures 33,387,997 37,969,262 37,466,367 4,078,370 Excess [deficiency] of revenues over [under] expenditures 45,224 [3,752,416][3,449,210]3,494,434 See independent auditor's report on the financial statements. 52 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) GENERAL FUND (Continued) For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Other financing sources [uses] Transfer in 200,000$750,000$750,000$[550,000]$ Transfer [out][932,124][994,358][1,297,564]365,440 Total other financing sources [uses][732,124][244,358][547,564][184,560] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][686,900][3,996,774][3,996,774]3,309,874 Unreserved fund balance, January 1 3,589,641 3,996,774 3,996,774 [407,133] Prior year cancelled encumbrances 15,910 --15,910 Unreserved fund balance, December 31 2,918,651 -$-$2,918,651$ Reconciliation to GAAP Interest receivable 17,498 Accounts receivable 494,418 Inventory 87,328 Budgeted Amounts See independent auditor's report on the financial statements. 53 Accounts receivable 494,418 Inventory 87,328 Current year encumbrances 99,286 GAAP Fund Balance, December 31 3,617,181$ See independent auditor's report on the financial statements. 53 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) FLOOD AND DRAINAGE IMPROVEMENT FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Delinquent taxes 911$2,000$2,000$[1,089]$ Motor vehicle taxes 402 276 276 126 Total taxes 1,313 2,276 2,276 [963] Total revenues 1,313 2,276 2,276 [963] Expenditures Capital Outlay 973 109,438 109,438 108,465 Total expenditures 973 109,438 109,438 108,465 Excess [deficiency] of revenues Budgeted Amounts See independent auditor's report on the financial statements. 54 Excess [deficiency] of revenues over [under] expenditures 340 [107,162][107,162]107,502 Unreserved fund balance, January 1 186,884 207,162 207,162 [20,278] Prior year cancelled encumbrances 126 --126 Unreserved fund balance, December 31 187,350 100,000$100,000$87,350$ Reconciliation to GAAP Current year encumbrances 1,176 . GAAP Fund Balance, December 31 188,526$ See independent auditor's report on the financial statements. 54 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) TOURISM AND CONVENTION FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Other taxes 1,228,788$1,350,000$1,350,000$[121,212]$ Interest income General interest 395 --395 Total revenues 1,229,183 1,350,000 1,350,000 [120,817] Expenditures Community Development Tourism 678,906 900,000 900,000 221,094 Total expenditures 678,906 900,000 900,000 221,094 Budgeted Amounts See independent auditor's report on the financial statements. 55 Excess [deficiency] of revenues over [under] expenditures 550,277 450,000 450,000 100,277 Other financing sources [uses] Transfer [out][549,883][450,000][450,000][99,883] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]394 --394 Unreserved fund balance, January 1 1,664 1,573 1,573 91 Unreserved fund balance, December 31 2,058 1,573$1,573$485$ Reconciliation to GAAP Accounts receivable 365,139 GAAP Fund Balance, December 31 367,197$ See independent auditor's report on the financial statements. 55 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) SPECIAL GAS FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Operating grants, restricted Public works 1,382,636$1,494,810$1,494,810$[112,174]$ Interest income General interest 9,232 6,000 -9,232 Total revenues 1,391,868 1,500,810 1,494,810 [102,942] Expenditures Public Works Streets 390,175 480,875 480,875 90,700 Capital outlay 1,727,458 1,225,196 1,918,753 191,295 Cash reserve --500,000 500,000 Total expenditures 2,117,633 1,706,071 2,899,628 781,995 Budgeted Amounts See independent auditor's report on the financial statements. 56 Total expenditures 2,117,633 1,706,071 2,899,628 781,995 Excess [deficiency] of revenues over [under] expenditures [725,765][205,261][1,404,818]679,053 Other financing sources [uses] Transfer in 180,000 180,000 180,000 - Total other financing sources [uses]180,000 180,000 180,000 - Excess [deficiency] of revenues and other sources over [under][545,765][25,261][1,224,818]679,053 expenditures and other [uses] Unreserved fund balance, January 1 1,224,818 525,262 1,224,818 - Prior year cancelled encumbrances 55,956 --55,956 Unreserved fund balance, December 31 735,009 500,001$-$735,009$ Reconciliation to GAAP Taxes receivable 316,843 Retainage payable [65,628] Current year encumbrances 498,417 GAAP Fund Balance, December 31 1,484,641$ See independent auditor's report on the financial statements. 56 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) BICENTENNIAL CENTER FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Culture and recreation 713,994$787,000$750,970$[36,976]$ Interest income General interest -3,500 -- Total revenues 713,994 790,500 750,970 [36,976] Expenditures Culture and Recreation Bicentennial Center 1,752,087 1,958,264 1,839,992 87,905 Capital outlay 16,159 10,000 15,318 [841] Total expenditures 1,768,246 1,968,264 1,855,310 87,064 Excess [deficiency] of revenues Budgeted Amounts See independent auditor's report on the financial statements. 57 Excess [deficiency] of revenues over [under] expenditures [1,054,252][1,177,764][1,104,340]50,088 Other financing sources [uses] Transfer in 992,794 1,075,000 1,041,252 [48,458] Total other financing sources [uses]992,794 1,075,000 1,041,252 [48,458] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][61,458][102,764][63,088]1,630 Unreserved fund balance, January 1 63,088 139,129 63,088 - Unreserved fund balance, December 31 1,630 36,365$-$1,630$ Reconciliation to GAAP Accounts receivable 44,418 GAAP Fund Balance, December 31 46,048$ See independent auditor's report on the financial statements. 57 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES 58 CITY OF SALINA, KANSAS COMBINING STATEMENTS - NONMAJOR FUNDS NONMAJOR SPECIAL REVENUE FUNDS Special revenue funds are used to account for specific revenues that are legally restricted to expenditure for particular purposes. Business improvement district fund - State law allows businesses within an area to voluntarily establish an improvement City. This fund is used to account for the assessments made on the District. All revenues are to be used within the Business Improvement District. Neighborhood park fund - To account for fees collected from new residential building projects in Salina. Expenditures are for acquisition or development of neighborhood parks in the growing areas of the community. Special parks and recreation fund - To account for liquor tax revenues, which must be used for park maintenance and improvements. Special alcohol fund - To account for liquor tax revenues, which must be used for programs, which address prevention, education or intervention for drug and alcohol abuse. Bicentennial center event fund - To account for the revenues and expenses associated with special events (concerts, shows, etc.) at the City's convention center. HUD community development fund - To account for grants received from the state to be used for housing or economic development purposes. Community development revolving fund - To account for funds, which may be loaned for housing and economic development, purposes, to later be repaid and reused on a revolving basis. Heritage commission fund - To account for revenues and expenses associated with heritage preservation activities. Sales tax capital fund - To account for 87.5% of the 1/4 cent sales tax designated for capital, debt, and human services purposes. Sales tax economic development fund - To account for 12.5% of the 1/4 cent sales tax designated for economic Development purposes. Fair housing fund - To account for grants received from the federal government to be used to monitor and mediate fair housing complaints. CDBG ED fund- To account for grants received from the federal government to be used for economic development loans to qualifying businesses. HOME V fund - To account for grants received from the state government to be used for housing rehabilitation. Special law enforcement fund - To account for revenues received from the sale of forfeited assets acquired during drug enforcement activities. Expenses are limited to capital items to be used for further drug enforcement activities. Police grants fund - To account for revenues from grants, which are to be used for special police activities, including the D.A.R.E. program D.A.R.E. donations fund - To account for donations to the D.A.R.E. program. War memorial maintenance fund - To account for monies to be used for maintenance of the local war memorial. Arts & humanities fund - To account for revenues and expenses associated with arts and humanities activities. 59 CITY OF SALINA, KANSAS COMBINING STATEMENTS - NONMAJOR FUNDS NONMAJOR PERMANENT FUNDS Permanent funds are used to report resources that are legally restricted to the extent that only earnings, not principal, may be used for purposes that support the reporting government’s programs. Cemetery endowment fund - To account for amounts expended for perpetual care of the City cemetery. Interest earnings are used for cemetery maintenance. Mausoleum endowment fund - To account for amounts charged for perpetual care of the City mausoleum. Interest earnings are used for mausoleum maintenance. Tricentennial commission fund - To account for donations to be used to celebrate the nation's tricentennial in the year 2076. Total Total Nonmajor Total Nonmajor Nonmajor Debt Nonmajor Special Revenue Permanent Service Governmental Funds Funds Fund Funds ASSETS Cash and investments 4,159,652$416,490$624,328$5,200,470$ Receivables Accounts 52,213 --52,213 Total assets 4,211,865$416,490$624,328$5,252,683$ LIABILITIES AND FUND BALANCES Liabilities: Accounts payable 44,018$-$14,615$58,633$ Due to other funds 58,031 --58,031 Total liabilities 102,049 -14,615 116,664 Fund balances: Reserved for encumbrances 588,487 --588,487 Reserved for debt service --609,713 609,713 Unreserved Undesignated 3,521,329 416,490 -3,937,819 Total fund balances 4,109,816 416,490 609,713 5,136,019 Total liabilities and fund balances 4,211,865$416,490$624,328$5,252,683$ CITY OF SALINA, KANSAS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2010 See independent auditor's report on the financial statements. 60 Total Total Nonmajor Total Nonmajor Nonmajor Debt Nonmajor Special Revenue Permanent Service Governmental Funds Funds Fund Funds REVENUES Taxes 4,107,810$-$-$4,107,810$ Intergovernmental 744,955 -270,270 1,015,225 Charges for services 1,023,410 8,000 -1,031,410 Licenses and permits 11,051 --11,051 Investment revenue 17,909 2,096 45 20,050 Miscellaneous 95,319 --95,319 Total revenues 6,000,454 10,096 270,315 6,280,865 EXPENDITURES Current Culture and recreation 1,424,871 --1,424,871 Public health and sanitation 154,979 --154,979 For the Year Ended December 31, 2010 CITY OF SALINA, KANSAS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS See independent auditor's report on the financial statements. 61 Public health and sanitation 154,979 --154,979 Planning and development 501,817 --501,817 Miscellaneous -32,225 -32,225 Debt service Principal retirement 25,000 --25,000 Interest and other charges 5,194 -157,345 162,539 Capital outlay 767,187 --767,187 Total expenditures 2,879,048 32,225 157,345 3,068,618 Excess [deficiency] of revenues over [under] expenditures 3,121,406 [22,129]112,970 3,212,247 Other financing sources [uses] Transfers in 489,358 --489,358 Transfers [out][3,050,000]--[3,050,000] Total other financing sources [uses][2,560,642]--[2,560,642] Net change in fund balance 560,764 [22,129]112,970 651,605 Fund balance - Beginning of year 3,549,052 438,619 496,743 4,484,414 Fund balance - End of year 4,109,816$416,490$609,713$5,136,019$ See independent auditor's report on the financial statements. 61 Business Special Improvement Neighborhood Parks &Special District Park Recreation Alcohol ASSETS Cash and investments 1,689$222,255$75,667$144$ Receivables Accounts 52,213 --- Total assets 53,902$222,255$75,667$144$ LIABILITIES AND FUND BALANCES Liabilities: Accounts payable 1,689$-$9,146$-$ Due to other funds ---- Total liabilities 1,689 -9,146 - Fund balance: Reserved for encumbrances --6,336 - Unreserved COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS December 31, 2010 CITY OF SALINA, KANSAS Unreserved Undesignated [deficit]52,213 222,255 60,185 144 Total fund balance [deficit]52,213 222,255 66,521 144 Total liabilities and fund balances 53,902$222,255$75,667$144$ Bicentennial HUD Comm.Sales Tax Center Community Development.Heritage Sales Tax Economic Event Dev.Revolving Commission Capital Development 105,419$71,680$230,665$4$2,154,367$1,043,405$ ------ 105,419$71,680$230,665$4$2,154,367$1,043,405$ -$-$-$-$-$-$ ------ ------ ----582,151 - 105,419 71,680 230,665 4 1,572,216 1,043,405 105,419 71,680 230,665 4 2,154,367 1,043,405 105,419$71,680$230,665$4$2,154,367$1,043,405$ See independent auditor's report on the financial statements. 62 Special Fair CDBG HOME Law Housing ED V Enforcement ASSETS Cash and investments 43,156$3,831$-$20,951$ Receivables Accounts ---- Total assets 43,156$3,831$-$20,951$ LIABILITIES AND FUND BALANCES Liabilities: Accounts payable 491$26,160$-$-$ Due to other funds --58,031 - Total liabilities 491 26,160 58,031 - Fund balance: Reserved for encumbrances ---- Unreserved COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS (Continued) CITY OF SALINA, KANSAS December 31, 2010 Unreserved Undesignated [deficit]42,665 [22,329][58,031]20,951 Total fund balance [deficit]42,665 [22,329][58,031]20,951 Total liabilities and fund balances 43,156$3,831$-$20,951$ War Police DARE Memorial Arts & Grants Donations Maintenance Humanities Totals 21$1,737$35,958$148,703$4,159,652$ ----52,213 21$1,737$35,958$148,703$4,211,865$ 5,365$-$-$1,167$44,018$ ----58,031 5,365 --1,167 102,049 ----588,487 [5,344]1,737 35,958 147,536 3,521,329 [5,344]1,737 35,958 147,536 4,109,816 21$1,737$35,958$148,703$4,211,865$ 63 See independent auditor's report on the financial statements. Business Special Improvement Neighborhood Parks &Special District Park Recreation Alcohol Revenues Taxes -$-$-$-$ Intergovernmental --144,931 144,929 Charges for services 83,902 --- Licenses and permits -11,051 -- Investment revenue 40 1,058 656 1 Miscellaneous ---- Total Revenues 83,942 12,109 145,587 144,930 Expenditures Current Culture and recreation ---- Public health and sanitation ---154,979 Planning and development 83,138 --- Debt service Principal retirement --25,000 - CITY OF SALINA, KANSAS COMBINING STATEMENT OF REVENUES, EXPENDITURES, For the Year Ended December 31, 2010 AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS Principal retirement --25,000 - Interest and other charges --5,194 - Capital outlay --61,275 - Total Expenditures 83,138 -91,469 154,979 Excess [deficiency] of revenues over [under] expenditures 804 12,109 54,118 [10,049] Other financing sources [uses] Transfers in ---- Transfers [out]--[100,000]- Total other financing sources [uses]--[100,000]- Net change in fund balance 804 12,109 [45,882][10,049] Fund balance, beginning of year 51,409 210,146 112,403 10,193 Fund balance, end of year 52,213$222,255$66,521$144$ Bicentennial HUD Community Sales Tax Center Community Development Heritage Sales Tax Economic Event Development Revolving Commission Capital Development -$-$-$-$3,808,247$299,563$ ------ 582,609 ----- ------ -350 1,125 -7,719 5,646 ------ 582,609 350 1,125 -3,815,966 305,209 482,946 ----- ------ ------ ------------ ------ ----339,009 369,426 482,946 ---339,009 369,426 99,663 350 1,125 -3,476,957 [64,217] ------ ----[2,950,000]- ----[2,950,000]- 99,663 350 1,125 -526,957 [64,217] 5,756 71,330 229,540 4 1,627,410 1,107,622 105,419$71,680$230,665$4$2,154,367$1,043,405$ See independent auditor's report on the financial statements. 64 Special Fair CDBG HOME Law Housing ED V Enforcement Revenues Taxes -$-$-$-$ Intergovernmental 72,125 334,361 -- Charges for services ---- Licenses and permits ---- Investment revenue 154 --90 Miscellaneous 1,988 --6,352 Total Revenues 74,267 334,361 -6,442 Expenditures Current Culture and recreation ---- Public health and sanitation ---- Planning and development 63,548 355,061 -- Debt service Principal retirement ---- CITY OF SALINA, KANSAS COMBINING STATEMENT OF REVENUES, EXPENDITURES, NONMAJOR SPECIAL REVENUE FUNDS (Continued) For the Year Ended December 31, 2010 AND CHANGES IN FUND BALANCES Principal retirement ---- Interest and other charges ---- Capital outlay ---- Total Expenditures 63,548 355,061 -- Excess [deficiency] of revenues over [under] expenditures 10,719 [20,700]-6,442 Other financing sources [uses] Transfers in ---- Transfers [out]---- Total other financing sources [uses]---- Net change in fund balance 10,719 [20,700]-6,442 Fund balance, beginning of year 31,946 [1,629][58,031]14,509 Fund balance, end of year 42,665$[22,329]$[58,031]$20,951$ War Police DARE Memorial Arts & Grants Donations Maintenance Humanities Totals -$-$-$-$4,107,810$ ---48,609 744,955 ---356,899 1,023,410 ----11,051 -9 175 886 17,909 ---86,979 95,319 -9 175 493,373 6,000,454 --112 941,813 1,424,871 ----154,979 -70 --501,817 ----25,000----25,000 ----5,194 [2,523]---767,187 [2,523]70 112 941,813 2,879,048 2,523 [61]63 [448,440]3,121,406 ---489,358 489,358 ----[3,050,000] ---489,358 [2,560,642] 2,523 [61]63 40,918 560,764 [7,867]1,798 35,895 106,618 3,549,052 [5,344]$1,737$35,958$147,536$4,109,816$ See independent auditor's report on the financial statements. 65 Cemetery Mausoleum Tricentennial ASSETS Endowment Endowment Commission Total Cash and investments 408,811$1,991$5,688$416,490$ Total assets 408,811$1,991$5,688$416,490$ LIABILITIES AND FUND BALANCES Liabilities Accounts payable -$-$-$-$ Total liabilities ---- Fund balances Unreserved Undesignated 408,811 1,991 5,688 416,490 Total liabilities and fund balances 408,811$1,991$5,688$416,490$ CITY OF SALINA, KANSAS COMBINING BALANCE SHEET December 31, 2010 NONMAJOR PERMANENT FUNDS See independent auditor's report on the financial statements. 66 Cemetery Mausoleum Tricentennial Endowment Endowment Commission Total Revenues Charges for services 8,000$-$-$8,000$ Investment revenue 1,978 90 28 2,096 Total revenues 9,978 90 28 10,096 Expenditures Miscellaneous 35 32,190 -32,225 Total expenditures 35 32,190 -32,225 Net change in fund balance 9,943 [32,100]28 [22,129] Fund balances - beginning of year 398,868 34,091 5,660 438,619 Fund balances - end of year 408,811$1,991$5,688$416,490$ NONMAJOR PERMANENT FUNDS For the Year Ended December 31, 2010 CITY OF SALINA, KANSAS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES See independent auditor's report on the financial statements. 67 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) BUSINESS IMPROVEMENT CITY FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Community and economic development 83,087$90,500$90,500$[7,413]$ Interest income General interest 40 500 500 [460] Total revenues 83,127 91,000 91,000 [7,873] Expenditures Community Development Business Improvement District 83,138 90,500 90,500 7,362 Total expenditures 83,138 90,500 90,500 7,362 Excess [deficiency] of revenues over [under] expenditures [11]500 500 [511] Unreserved fund balance, January 1 11 500 500 [489] Unreserved fund balance, December 31 -1,000$1,000$[1,000]$ Reconciliation to GAAP Accounts receivable 52,213 GAAP Fund Balance, December 31 52,213$ Budgeted Amounts See independent auditor's report on the financial statements. 68 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) NEIGHBORHOOD PARK FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Public works 11,051$20,000$20,000$[8,949]$ Interest income General interest 1,058 4,000 4,000 [2,942] Total revenues 12,109 24,000 24,000 [11,891] Expenditures Cash reserve ---- Total expenditures ---- Excess [deficiency] of revenues over [under] expenditures 12,109 24,000 24,000 [11,891] Unreserved fund balance, January 1 210,146 217,206 217,206 [7,060] Unreserved fund balance/GAAP fund balance December 31 222,255$241,206$241,206$[18,951]$ Budgeted Amounts See independent auditor's report on the financial statements. 69 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) SPECIAL PARKS AND RECREATION FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Operating grants, restricted Culture and recreation 144,931$160,000$160,000$[15,069]$ Interest income General interest 656 4,000 4,000 [3,344] Total revenues 145,587 164,000 164,000 [18,413] Expenditures Debt Service Principal 25,000 30,000 30,000 5,000 Interest and other charges 5,194 --[5,194] Capital Outlay 62,977 100,000 100,000 37,023 Total expenditures 93,171 130,000 130,000 36,829 Excess [deficiency] of revenues over [under] expenditures 52,416 34,000 34,000 18,416 Other financing sources [uses] Transfer [out][100,000]--[100,000] Total other financing sources [uses][100,000]--[100,000] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][47,584]34,000 34,000 [81,584] Unreserved fund balance, January 1 107,719 102,268 102,268 5,451 Prior year cancelled encumbrances 50 --50 Unreserved fund balance, December 31 60,185 136,268$136,268$[76,083]$ Reconciliation to GAAP Current year encumbrances 6,336 GAAP Fund Balance, December 31 66,521$ Budgeted Amounts See independent auditor's report on the financial statements. 70 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) SPECIAL ALCOHOL FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Operating grants, restricted Health and sanitation 144,929$160,000$160,000$[15,071]$ Interest income General interest 1 --1 Total revenues 144,930 160,000 160,000 [15,070] Expenditures Public Health and Sanitation Special alcohol 154,979 160,000 160,000 5,021 Total expenditures 154,979 160,000 160,000 5,021 Excess [deficiency] of revenues over [under] expenditures [10,049]--[10,049] Unreserved fund balance, January 1 10,193 21 21 10,172 Unreserved fund balance/GAAP fund balance December 31 144$21$21$123$ Budgeted Amounts See independent auditor's report on the financial statements. 71 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) SALES TAX CAPITAL FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Selective sales tax 3,554,825$3,586,740$3,559,424$[4,599]$ Operating grants, unrestricted General grants 253,423 -253,422 1 Interest income General interest 7,719 20,000 6,000 1,719 Total revenues 3,815,967 3,606,740 3,818,846 [2,879] Expenditures General Government Other general government 41 -334,175 334,134 Capital Outlay 720,500 950,000 2,018,751 1,298,251 Budgeted Amounts See independent auditor's report on the financial statements. 72 Capital Outlay 720,500 950,000 2,018,751 1,298,251 Total expenditures 720,541 950,000 2,352,926 1,632,385 Excess [deficiency] of revenues over [under] expenditures 3,095,426 2,656,740 1,465,920 1,629,506 Other financing sources [uses] Transfer [out][2,950,000][2,650,000][2,850,000][100,000] Total other financing sources [uses][2,950,000][2,650,000][2,850,000][100,000] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]145,426 6,740 [1,384,080]1,529,506 Unreserved fund balance, January 1 1,387,094 167,005 1,384,080 3,014 Prior year cancelled encumbrances 39,696 --39,696 Unreserved fund balance, December 31 1,572,216 173,745$-$1,572,216$ Reconciliation to GAAP Current year encumbrances 582,151 GAAP Fund Balance, December 31 2,154,367$ See independent auditor's report on the financial statements. 72 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) SALES TAX ECONOMIC DEVELOPMENT FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Selective sales tax 299,563$305,444$300,000$[437]$ Interest income General interest 5,646 10,000 5,000 646 Total revenues 305,209 315,444 305,000 209 Expenditures Community Development Economic development 369,426 315,444 1,412,621 1,043,195 Total expenditures 369,426 315,444 1,412,621 1,043,195 Excess [deficiency] of revenues Budgeted Amounts See independent auditor's report on the financial statements. 73 Excess [deficiency] of revenues over [under] expenditures [64,217]-[1,107,621]1,043,404 Unreserved fund balance, January 1 1,107,622 55,231 1,107,621 1 Unreserved fund balance/GAAP fund balance 1,043,405$55,231$-$1,043,405$ December 31 See independent auditor's report on the financial statements. 73 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) FAIR HOUSING FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Operating grants, restricted Community and economic development 74,113$65,000$65,000$9,113$ Interest income General interest 154 1,052 1,052 [898] Total revenues 74,267 66,052 66,052 8,215 Expenditures Community Development Human relations 63,548 77,011 77,011 13,463 Total expenditures 63,548 77,011 77,011 13,463 Budgeted Amounts See independent auditor's report on the financial statements. 74 Excess [deficiency] of revenues over [under] expenditures 10,719 [10,959][10,959]21,678 Unreserved fund balance, January 1 31,946 10,959 10,959 20,987 Unreserved fund balance/GAAP fund balance December 31 42,665$-$-$42,665$ See independent auditor's report on the financial statements. 74 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) ARTS & HUMANITIES FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Culture and recreation 443,398$381,824$441,069$2,329$ Operating grants, unrestricted Culture and recreation 48,609 -48,608 1 Interest income General interest 886 501 700 186 Miscellaneous revenues Culture and recreation 479 --479 Total revenues 493,372 382,325 490,377 2,995 Expenditures Culture and Recreation Budgeted Amounts See independent auditor's report on the financial statements. 75 Culture and Recreation Arts and humanities 577,297 587,049 740,418 163,121 Smoky Hill River Festival 366,719 272,570 272,570 [94,149] Capital Outlay 2,796 --[2,796] Cash Reserve --78,365 78,365 Total expenditures 946,812 859,619 1,091,353 144,541 Excess [deficiency] of revenues over [under] expenditures [453,440][477,294][600,976]147,536 Other financing sources [uses] Transfer in 489,358 489,358 489,358 - Total other financing sources [uses]489,358 489,358 489,358 - Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]35,918 12,064 [111,618]147,536 Unreserved fund balance, January 1 111,618 29,674 111,618 - Unreserved fund balance/GAAP fund balance December 31 147,536$41,738$-$147,536$ See independent auditor's report on the financial statements. 75 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) DEBT SERVICE FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Real estate taxes 2,182,972$2,189,613$2,189,613$[6,641]$ Delinquent taxes 47,782 40,000 40,000 7,782 Motor vehicle taxes 183,079 195,965 195,965 [12,886] Total taxes 2,413,833 2,425,578 2,425,578 [11,745] Charges for services Special assessments 1,385,171 1,263,009 1,263,009 122,162 Interest income General interest 8,336 10,000 10,000 [1,664] Miscellaneous revenues General miscellaneous revenues 6,441 10,000 10,000 [3,559] Other financing sources Budgeted Amounts See independent auditor's report on the financial statements. 76 Other financing sources General sources 2,282 --2,282 Total revenues 3,816,063 3,708,587 3,708,587 107,476 Expenditures Debt Service Principal 3,926,701 4,085,000 4,085,000 158,299 Interest and other charges 2,052,780 1,818,229 1,818,229 [234,551] Cash Reserve -399,127 399,127 399,127 Total expenditures 5,979,481 6,302,356 6,302,356 322,875 Excess [deficiency] of revenues over [under] expenditures [2,163,418][2,593,769][2,593,769]430,351 Other financing sources [uses] Transfer in 2,000,000 2,000,000 2,000,000 - Total other financing sources [uses]2,000,000 2,000,000 2,000,000 - Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][163,418][593,769][593,769]430,351 Unreserved fund balance, January 1 735,291 593,769 593,769 141,522 Unreserved fund balance/GAAP fund balance December 31 571,873$-$-$571,873$ See independent auditor's report on the financial statements. 76 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL (NON - GAAP BASIS) SOLID WASTE DISPOSAL FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Health and sanitation 2,400,105$2,600,192$2,600,192$[200,087]$ Interest income General interest 14,457 7,000 7,000 7,457 Interfund services provided Health and sanitation 485,005 463,808 463,808 21,197 Miscellaneous revenues Health and sanitation 24,839 20,000 20,000 4,839 Total revenues 2,924,406 3,091,000 3,091,000 [166,594] Expenditures Public Health and Sanitation Solid waste 1,951,922 4,228,244 4,228,244 2,276,322 Hazardous waste disposal 84,160 100,602 100,602 16,442 Total public health and sanitation 2,036,082 4,328,846 4,328,846 2,292,764 Debt Service Principal 373,000 412,334 412,334 39,334 Interest 35,775 99,675 99,675 63,900 Total debt service 408,775 512,009 512,009 103,234 Capital Outlay 501,537 568,638 568,638 67,101 Total expenditures 2,946,394 5,409,493 5,409,493 2,463,099 Excess [deficiency] of revenues over [under] expenditures [21,988][2,318,493][2,318,493]2,296,505 Other financing sources [uses] Transfers [out][153,234]--[153,234] Total other financing sources [uses][153,234]--[153,234] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][175,222][2,318,493][2,318,493]2,143,271 Unreserved fund balances, January 1 (as originally stated)2,751,271 2,318,493 2,318,493 432,778 Prior period adjustment [85,513]--[85,513] Unreserved fund balances, January 1 (restated)2,665,758 2,318,493 2,318,493 347,265 Unreserved fund balances, December 31 2,490,536$-$-$2,490,536$ Budgeted Amounts See independent auditor's report on the financial statements. 77 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL (NON - GAAP BASIS) WATER AND SEWER FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Water and wastewater 15,949,822$15,252,706$15,252,706$697,116$ Interest income General interest 47,023 25,000 25,000 22,023 Interfund services provided General services 27,829 30,900 30,900 [3,071] Water and wastewater 77,513 --77,513 Total interfund services 105,342 30,900 30,900 74,442 Miscellaneous revenues General miscellaneous revenues 128 --128 Water and wastewater 515,180 260,000 260,000 255,180 Total miscellaneous revenues 515,308 260,000 260,000 255,308 Total revenues 16,617,495 15,568,606 15,568,606 1,048,889 Expenditures Water and Wastewater Water 8,074,510 11,380,603 11,380,603 3,306,093 Sewer 2,661,845 2,836,629 2,836,629 174,784 Total water and wastewater 10,736,355 14,217,232 14,217,232 3,480,877 Capital Outlay 1,324,010 1,957,000 1,957,000 632,990 Total expenditures 12,060,365 16,174,232 16,174,232 4,113,867 Excess [deficiency] of revenues over [under] expenditures 4,557,130 [605,626][605,626]5,162,756 Other financing sources [uses] Transfers [out][2,407,184][2,457,184][2,457,184]50,000 Total other financing sources [uses][2,407,184][2,457,184][2,457,184]50,000 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]2,149,946 [3,062,810][3,062,810]5,212,756 Unreserved fund balances, January 1 7,549,705 4,917,085 4,917,085 2,632,620 Prior year cancelled encumbrances 239 --239 Unreserved fund balances, December 31 9,699,890$1,854,275$1,854,275$7,845,615$ Budgeted Amounts See independent auditor's report on the financial statements. 78 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL (NON - GAAP BASIS) SANITATION FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Health and sanitation 2,311,118$2,301,848$2,301,848$9,270$ Interest income General interest 3,221 3,500 3,500 [279] Charges for services Miscellaneous revenues 950 --950 Total revenues 2,315,289 2,305,348 2,305,348 9,941 Expenditures Public Health and Sanitation Sanitation 2,119,171 2,593,322 2,593,322 474,151 Capital Outlay 161,015 191,400 191,400 30,385 Total expenditures 2,280,186 2,784,722 2,784,722 504,536 Excess [deficiency] of revenues over [under] expenditures 35,103 [479,374][479,374]514,477 Other financing sources [uses] Transfers [out][50,000]--[50,000] Total other financing sources [uses][50,000]--[50,000] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][14,897][479,374][479,374]464,477 Unreserved fund balance, January 1 596,708 479,374 479,374 117,334 Unreserved fund balances, December 31 581,811$-$-$581,811$ Budgeted Amounts See independent auditor's report on the financial statements. 79 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL (NON - GAAP BASIS) GOLF COURSE FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services Culture and recreation 735,784$793,300$756,795$[21,011]$ Interest income General interest 228 200 643 [415] Miscellaneous revenues General miscellaneous revenues 153 36,000 152 1 Culture and recreation 46,726 24,000 25,817 20,909 Total miscellaneous revenues 46,879 60,000 25,969 20,910 Total revenues 782,891 853,500 783,407 [516] Expenditures Culture and Recreation Golf course 778,594 839,101 868,713 90,119 Capital Outlay 16,141 --[16,141] Total expenditures 794,735 839,101 868,713 73,978 Excess [deficiency] of revenues over [under] expenditures [11,844]14,399 [85,306]73,462 Other financing sources [uses] Transfers [out]20,000 -50,000 [30,000] Total other financing sources [uses]20,000 -50,000 [30,000] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]8,156 14,399 [35,306]43,462 Unreserved fund balances, January 1 35,306 85,648 35,306 - Unreserved fund balances, December 31 43,462$100,047$-$43,462$ Budgeted Amounts See independent auditor's report on the financial statements. 80 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) RISK MANAGEMENT FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Interest income General interest -$1,400$1,400$[1,400]$ Interfund services provided General services 275,734 315,733 315,733 [39,999] Miscellaneous revenues General miscellaneous revenues 29,988 40,000 40,000 [10,012] Total revenues 305,722 357,133 357,133 [51,411] Expenditures Other Risk management 407,773 432,050 432,050 24,277 Capital Outlay -1,000 1,000 1,000 Total expenditures 407,773 433,050 433,050 25,277 Excess [deficiency] of revenues over [under] expenditures [102,051][75,917][75,917][26,134] Unreserved fund balance, January 1 151,899 153,275 153,275 [1,376] Unreserved fund balance, December 31 49,848$77,358$77,358$[27,510]$ Budgeted Amounts See independent auditor's report on the financial statements. 81 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) WORKERS' COMPENSATION RESERVE FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Interest income General interest 4,197$2,500$2,500$1,697$ Interfund services provided General services 179,029 220,205 220,205 [41,176] Total revenues 183,226 222,705 222,705 [39,479] Expenditures Other Worker's compensation 303,656 260,000 260,000 [43,656] Total expenditures 303,656 260,000 260,000 [43,656] Budgeted Amounts See independent auditor's report on the financial statements. 82 Excess [deficiency] of revenues over [under] expenditures [120,430][37,295][37,295][83,135] Unreserved fund balance, January 1 742,059 805,217 805,217 [63,158] Unreserved fund balance, December 31 621,629$767,922$767,922$[146,293]$ See independent auditor's report on the financial statements. 82 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) HEALTH INSURANCE FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Interest income General interest 9,432$5,000$5,000$4,432$ Interfund Services Provided General services 6,279,092 6,153,946 6,153,946 125,146 Miscellaneous revenues General miscellaneous revenues 31,012 36,000 36,000 [4,988] Total revenues 6,319,536 6,194,946 6,194,946 124,590 Expenditures Other Health insurance 6,641,875 7,919,184 7,919,184 1,277,309 Total expenditures 6,641,875 7,919,184 7,919,184 1,277,309 Excess [deficiency] of revenues over [under] expenditures [322,339][1,724,238][1,724,238]1,401,899 Unreserved fund balance, January 1 1,823,861 1,724,238 1,724,238 99,623 Unreserved fund balance, December 31 1,501,522$-$-$1,501,522$ Budgeted Amounts See independent auditor's report on the financial statements. 83 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) CENTRAL GARAGE FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Interest income General interest 690$4,000$4,000$[3,310]$ Interfund services provided General services 1,440,407 1,270,000 1,270,000 170,407 Miscellaneous revenues General miscellaneous revenues 22,438 4,000 4,000 18,438 Total revenues 1,463,535 1,278,000 1,278,000 185,535 Expenditures Other Central garage 1,483,507 1,437,086 1,437,086 [46,421] Capital Outlay -250 250 250 Total expenditures 1,483,507 1,437,336 1,437,336 [46,171] Excess [deficiency] of revenues over [under] expenditures [19,972][159,336][159,336]139,364 Other financing sources [uses] Transfers in -30,000 30,000 [30,000] Excess [deficiency] of revenues and other financing sources over [under] expenditures and other financing [uses][19,972][129,336][129,336]109,364 Unreserved fund balance, January 1 109,791 162,107 162,107 [52,316] Unreserved fund balance, December 31 89,819$32,771$32,771$57,048$ Budgeted Amounts See independent auditor's report on the financial statements. 84 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) INFORMATION SYSTEMS FUND For the Year Ended December 31, 2010 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services General charges 108,801$106,000$106,000$2,801$ Interest income General interest 2,428 500 500 1,928 Interfund services provided General services 1,102,218 1,102,218 1,102,218 - Miscellaneous revenues General miscellaneous revenues -9,431 9,431 [9,431] Total revenues 1,213,447 1,218,149 1,218,149 [4,702] Expenditures Other Information services 1,074,044 1,098,532 1,098,532 24,488 Capital Outlay 234,859 351,000 351,000 116,141 Total expenditures 1,308,903 1,449,532 1,449,532 140,629 Excess [deficiency] of revenues over [under] expenditures [95,456][231,383][231,383]135,927 Unreserved fund balance, January 1 187,294 231,383 231,383 [44,089] Unreserved fund balance, December 31 91,838$-$-$91,838$ Budgeted Amounts See independent auditor's report on the financial statements. 85 86 CITY OF SALINA, KANSAS INTERNAL SERVICE FUNDS Internal service funds are used to account for the financing of goods or services provided by one agency to other departments or agencies of the government and to other governmental units on a cost reimbursement basis. Risk management fund - To account for the accumulation and allocation of costs associated with risk management activities and the purchase of various forms of insurance. Workers' compensation reserve fund - To account for the costs of providing a partially self-insured workers' compensation plan and for accumulating the necessary reserve amounts. Health insurance fund - To account for the costs of providing a partially self-insured health insurance and for accumulating the necessary reserve amounts. Central garage fund - To account for the accumulation and allocation for costs associated with the City's centralized vehicle repair shop. Information services fund - To account for the accumulation and allocation of costs associated with electronic data processing. Total Workers'Internal Risk Compensation Health Central Information Service ASSETS Management Reserve Insurance Garage Systems Funds Current assets: Cash and investments 61,518$750,615$1,501,972$130,949$124,652$2,569,706$ Inventory and prepaid supplies ---122,340 -122,340 Total current assets 61,518 750,615 1,501,972 253,289 124,652 2,692,046 Capital assets: Capital assets ---197,458 686,847 884,305 Less: accumulated depreciation ---168,552 686,847 855,399 Total capital assets ---28,906 -28,906 Total assets 61,518$750,615$1,501,972$282,195$124,652$2,720,952$ Liabilities: Current liabilities (payable from current assets): Accounts payable 11,671$-$450$41,087$32,814$86,022$ Current portion of compensated absences payable ---17,387 26,564 43,951 Current portion of accrued claims payable -180,375 382,502 --562,877 Total current liabilities (payable from current assets)11,671 180,375 382,952 58,474 59,378 692,850 Noncurrent liabilities: Compensated absences payable ---17,834 27,246 45,080 Accrued claims payable -245,207 ---245,207 CITY OF SALINA, KANSAS COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS December 31, 2010 See independent auditor's report on the financial statements. 87 Accrued claims payable -245,207 ---245,207 Total noncurrent liabilities -245,207 -17,834 27,246 290,287 Total liabilities 11,671$425,582$382,952$76,308$86,624$983,137$ Net Assets Invested in capital assets, net of related debt -$-$-$28,906$-$28,906$ Unrestricted 49,847 325,033 1,119,020 176,981 38,028 1,708,909 Total net assets 49,847$325,033$1,119,020$205,887$38,028$1,737,815$ See independent auditor's report on the financial statements. 87 Total Workers'Internal Risk Compensation Health Central Information Service Management Reserve Insurance Garage Systems Funds Operating revenues Charges for services 275,733$177,206$6,279,093$1,440,408$926,018$9,098,458$ Miscellaneous 29,988 1,824 31,012 22,436 -85,260 Total operating revenues 305,721 179,030 6,310,105 1,462,844 926,018 9,183,718 Operating expenses General government 407,773 356,829 6,602,848 1,472,549 1,026,679 9,866,678 Depreciation ---8,303 -8,303 Total operating expenses 407,773 356,829 6,602,848 1,480,852 1,026,679 9,874,981 Operating income [loss][102,052][177,799][292,743][18,008][100,661][691,263] Other operating revenues [expenses] Investment income -4,197 9,432 690 2,428 16,747 Total other operating revenues [expenses]-4,197 9,432 690 2,428 16,747 Change in net assets [102,052][173,602][283,311][17,318][98,233][674,516] Net assets, January 1 151,899 498,635 1,402,331 223,898 145,178 2,421,941 COMBINING STATEMENT OF REVENUES, EXPENSES INTERNAL SERVICE FUND CITY OF SALINA, KANSAS For the Year Ended December 31, 2010 AND CHANGES IN NET ASSETS See independent auditor's report on the financial statements. 88 Restatement ---[693][8,917][9,610] Net assets, January 1, restated 151,899 498,635 1,402,331 223,205 136,261 2,412,331 Net assets, December 31 49,847$325,033$1,119,020$205,887$38,028$1,737,815$ See independent auditor's report on the financial statements. 88 Total Workers'Internal Risk Compensation Health Central Information Service Management Reserve Insurance Garage Services Funds Cash flows from operating activities Cash received from customers and users 275,733$230,378$6,240,065$1,440,409$926,018$9,112,603$ Cash paid to suppliers of goods or services [397,660][356,829][6,602,748][1,230,613][688,259][9,276,109] Cash paid to employees ---[242,453][398,346][640,799] Other operating receipts 29,988 1,824 31,012 22,436 -85,260 Net cash provided by [used in] operating activities [91,939][124,627][331,671][10,221][160,587][719,045] Cash flows from investing activities Interest received -4,197 9,432 689 2,428 16,746 Net increase [decrease] in cash and cash equivalents [91,939][120,430][322,239][9,532][158,159][702,299] Cash and cash equivalents, January 1 153,457 871,045 1,824,211 140,481 282,811 3,272,005 Cash and cash equivalents, December 31 61,518$750,615$1,501,972$130,949$124,652$2,569,706$ For the Year Ended December 31, 2010 CITY OF SALINA, KANSAS INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS See independent auditor's report on the financial statements. 89 See independent auditor's report on the financial statements. 89 Total Workers'Internal Risk Compensation Health Central Information Service Management Reserve Insurance Garage Services Funds Reconciliation of operating [loss] income to net cash provided by [used in] operating activities Operating income [loss][102,052]$[177,799]$[292,743]$[18,008]$[100,661]$[691,263]$ Adjustments to reconcile operating income [loss] to net cash provided by [used in] operating activities Depreciation expense ---8,303 -8,303 [Increase] decrease in inventory ---[3,728]-[3,728] Increase [decrease] in accounts payable 10,113 -100 10,398 [62,704][42,093] Increase [decrease] in accrued compensated absences ---[7,186]2,778 [4,408] Increase [decrease] in claims payable -53,172 [39,028]--14,144 Net cash provided by [used in] operating activities [91,939]$[124,627]$[331,671]$[10,221]$[160,587]$[719,045]$ For the Year Ended December 31, 2010 CITY OF SALINA, KANSAS INTERNAL SERVICE FUNDS (Continued) COMBINING STATEMENT OF CASH FLOWS See independent auditor's report on the financial statements. 90 See independent auditor's report on the financial statements. 90 91 CITY OF SALINA, KANSAS AGENCY FUNDS Agency funds are used to account for assets held by the government as an agent for individuals, private organizations, other governments and/or other funds. Special assessment escrow agency fund - To account for property owners' prepayment on outstanding special assessments. Fire insurance proceeds agency fund - To account for insurance proceeds received for severely damaged buildings the insurance proceeds, plus interest, are returned to the property owners when the buildings are repaired or demolished. PEGS access agency fund - To account for revenues collected on behalf of the community access television system for public, educational and governmental programming. Payroll clearing agency fund - To account for interfund payroll receivables and payables for all City funds. Court bond and restitution agency fund - To account for bonds and restitution remitted to the court and awaiting court orders for distribution. Police investigation account agency fund - To account for monies held by the police department for use in investigations. Fire cam agency fund - To account for donations received and used for fire equipment. Citizenship fund – To account for donations received and used for the citizenship fund. Section 125 plan agency fund - To account for monies held for the Section 125 plan. Special Fire Court Police Section Assessment Insurance PEGS Payroll Bond and Investigation Fire 125 Escrow Proceeds Access Clearing Restitution Account Cam Citizenship Plan Totals ASSETS: Cash and investments 328,828$5,062$5,071$[246,521]$74,831$2,307$780$3,692$339,549$513,599$ Total assets 328,828$5,062$5,071$[246,521]$74,831$2,307$780$3,692$339,549$513,599$ LIABILITIES: Accounts payable 328,828$5,062$5,071$[246,521]$74,831$2,307$780$3,692$339,549$513,599$ Total liabilities 328,828$5,062$5,071$[246,521]$74,831$2,307$780$3,692$339,549$513,599$ December 31, 2010 CITY OF SALINA, KANSAS COMBINING BALANCE SHEET AGENCY FUNDS See independent auditor's report on the financial statements. 92 Balance Balance December 31,December 31, 2009 Additions Deductions 2010 Cash and investments Special Assessment Escrow 319,453$9,375$-$328,828$ Fire Insurance Proceeds 4,411 54,883 54,232 5,062 PEGS Access 5,027 309,276 309,232 5,071 Payroll Clearing [243,747]-2,774 [246,521] Court Bond and Restitution 74,133 -[698]74,831 Police Investigation Account 2,374 -67 2,307 Fire Cam Fund 777 3 -780 Citizenship Trust 3,675 17 -3,692 Section 125 Plan Fund 343,309 357,661 361,421 339,549 Total Assets 509,412$731,215$727,028$513,599$ Accounts Payable Special Assessment Escrow 319,453$9,375$-$328,828$ Fire Insurance Proceeds 4,411 54,883 54,232 5,062 CITY OF SALINA, KANSAS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES For the Year Ended December 31, 2010 AGENCY FUNDS See independent auditor's report on the financial statements. 93 Fire Insurance Proceeds 4,411 54,883 54,232 5,062 PEGS Access 5,027 309,276 309,232 5,071 Payroll Clearing [243,747]-2,774 [246,521] Court Bond and Restitution 74,133 -[698]74,831 Police Investigation Account 2,374 -67 2,307 Fire Cam Fund 777 3 -780 Citizenship Trust 3,675 17 -3,692 Section 125 Plan Fund 343,309 357,661 361,421 339,549 Total liabilities 509,412$731,215$727,028$513,599$ See independent auditor's report on the financial statements. 93 STATISTICAL SECTION 2004 Amount %Amount %Amount %Amount %Amount %Amount %Amount %Amount % Governmental Activities Invested in capital assets, net of related debt 82,312$86%92,948$92%110,184$92%117,810$93%115,029$90%118,965$93%101,974$85%113,001$96% Restricted 1,584$2%1,317$1%1,642$1%1,106$1%1,609$1%1,212$1%1,174$1%988$1% Unrestricted 11,742$12%7,057$7%7,422$6%7,678$6%11,356$9%7,745$6%16,706$14%3,808$3% Total Governmental Net Assets 95,638$100%101,321$100%119,248$100%126,594$100%127,994$100%127,922$100%119,854$100%117,797$100% Business Type Activities Invested in capital assets, net of related debt 36,599$76%38,560$77%40,968$79%43,510$81%45,435$80%45,931$79%48,234$79%48,078$75% Restricted 0%1,406$3%1,109$2%1,123$2%1,151$2%1,211$2%1,553$3%1,553$2% Unrestricted 11,710$24%9,837$20%9,821$19%9,300$17%10,412$18%11,197$19%11,482$19%14,306$22% Total business type activities net assets 48,308$100%49,803$100%51,897$100%53,933$100%56,998$100%58,339$100%61,269$100%63,937$100% Primary Government Invested in capital assets, net of related debt 118,911$83%131,507$87%151,152$88%161,320$89%160,464$87%164,896$89%150,208$83%161,080$89% Restricted 1,584$1%2,723$2%2,750$2%2,229$1%2,761$1%2,423$1%2,727$2%2,541$1% Unrestricted 23,451$16%16,894$11%17,243$10%16,978$9%21,768$12%18,942$10%28,188$16%18,115$10% Total primary government net assets 143,947$100%151,124$100%171,144$100%180,527$100%184,992$100%186,261$100%181,123$100%181,736$100% Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 201094 2010 Schedule 1 City of Salina, Kansas Net Assets by Component Last Eight Fiscal Years (accrual basis of accounting) (in 000's) 2009 Fiscal Year Note 2: All amounts are shown in thousands of dollars 2008 Note 1: The city began to report accrual information when it implemented GASB Statement 34 in fiscal year 2003 2003 2005 2006 2007 2003 2004 2005 2006 2007 2008 2009 2010 Expenses Governmental Activities: General government 6,767$4,931$4,904$6,319$6,732$6,791$14,664$10,845$ Public safety 12,636$13,548$14,159$14,621$16,877$18,440$16,539$18,592$ Public works 7,896$7,958$8,420$8,609$9,258$9,706$9,781$9,782$ Public health and sanitation 906$1,016$1,102$1,214$1,281$1,310$1,390$1,365$ Culture and recreation 4,657$4,784$5,071$4,961$5,658$5,582$5,397$6,572$ Planning and development 4,507$4,130$2,714$2,697$2,814$3,481$3,375$3,716$ Interest on long term debt 1,085$786$742$972$1,295$1,454$-$2,256$ Total governmental activities expenses 38,455$37,152$37,112$39,393$43,916$46,764$51,146$53,128$ Business-type Activities: Solid waste disposal 2,367$2,818$2,608$2,471$2,088$2,008$2,287$2,925$ Water and sewer 11,572$11,552$11,262$11,676$12,227$13,284$12,995$14,050$ Sanitation 1,682$1,920$1,889$1,945$2,038$2,184$2,224$2,261$ Golf course 786$817$893$852$884$884$897$817$ Total business-type activities expenses 16,407$17,107$16,652$16,944$17,236$18,360$18,403$20,053$ Total primary government expenses 54,862$54,260$53,764$56,337$61,153$65,124$69,549$73,181$ Program Revenues Governmental Activities Charges for services: General government 3,472$3,712$3,926$4,177$4,309$4,581$4,599$5,143$ Public safety 2,672$2,770$3,368$3,603$3,539$3,588$2,913$3,969$ Public works 160$155$163$169$457$120$164$196$ Public health and sanitation -$35$31$36$33$39$42$37$ Culture and recreation 2,031$2,073$2,276$1,883$2,050$2,139$1,936$2,817$ Planning and development 93$198$95$114$101$240$267$144$ Operating grants and contibutions 2,751$3,197$2,798$3,145$3,381$3,752$3,163$3,415$ Capital grants and contributions -$-$13,875$3,091$-$-$-$-$ Total governmental program revenues 11,178$12,140$26,532$16,216$13,871$14,458$13,084$15,721$ Business-type activities: Charges for services: Solid waste disposal 2,361$2,489$2,344$2,674$2,789$2,749$2,903$2,853$ Water and sewer 12,129$12,362$12,704$12,949$14,054$14,073$14,980$16,520$ Sanitation 1,795$1,814$1,881$1,988$2,112$2,172$2,292$2,310$ Golf course 773$791$799$773$723$751$757$736$ Operating grants and contributions -$368$-$-$-$-$-$ Capital grants and contributions -$-$-$-$-$-$-$-$ Total business type program revenues 17,058$17,824$17,728$18,385$19,678$19,744$20,932$22,419$ Total primary government program revenues 28,237$29,964$44,260$34,601$33,549$34,202$34,016$38,140$ Net (Expense) Revenue Governmental Activities (27,276)$(25,012)$(10,580)$(23,176)$(30,046)$(32,306)$(38,062)$(37,407)$ Business-type activities:651$717$1,076$1,441$2,442$1,384$2,529$2,366$ Total primary government net expense (26,625)$(24,296)$(9,504)$(21,736)$(27,604)$(30,922)$(35,533)$(35,041)$ General Revenues and Other Changes in Net Assets Governmental Activities: Taxes Property Taxes, General Purpose 5,862$6,576$6,766$7,144$7,376$7,818$9,019$7,803$ Property Taxes, Debt Service 1,732$1,329$1,351$1,402$1,471$1,529$1,711$2,230$ Motor Vehicle Tax 1,208$1,057$1,079$1,105$1,131$120$1,135$1,145$ Sales Tax, General Purpose 9,913$10,501$10,556$11,137$11,472$11,986$11,669$11,118$ Selective Sales Tax 2,114$2,264$2,280$2,417$2,484$2,589$3,380$4,108$ Other taxes 3,345$3,426$3,557$5,076$5,445$5,747$5,791$6,298$ Special Assessments 1,448$ Investment revenues 331$390$544$1,123$1,255$805$277$81$ Miscellaneous 1,442$1,084$1,209$1,044$890$812$505$565$ Transfers, net 80$24$114$330$672$60$255$92$ Total governmental activities 27,475$26,651$27,456$30,779$32,195$31,464$33,742$33,440$ Business-type activities: Investment revenues 101$222$328$453$641$300$242$67 Miscellaneous 165$93$150$217$201$118$352$341 Transfers, net (80)$(24)$(114)$(330)$(672)$(60)$(255)$(92)$ Total business-type activities 186$291$364$340$170$358$339$316$ Total primary government 27,661$26,942$27,820$31,119$32,366$31,822$34,081$33,756$ Change in Net Assets Governmental activities 199$1,638$16,877$7,602$2,150$(842)$(4,320)$(3,967)$ Business-type activities 838$1,008$1,440$1,780$2,612$1,742$2,868$2,682$ Total primary government 1,037$2,647$18,316$9,383$4,762$901$(1,452)$(1,285)$ Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 2010 Schedule 2 City of Salina, Kansas Changes in Net Assets Last Eight Fiscal Years Note: The city began to report accrual information when it implemented GASB Statement 34 in fiscal year 2003 Fiscal Year (accrual basis of accounting) (in 000's) 95 2003 2004 2005 2006 2007 2008 2009 2010 General Fund Reserved 309$160$421$242$396$274$508$99$ Unreserved 6,467$7,151$6,646$7,983$6,935$5,756$4,580$3,518$ Total General Fund 6,776$7,311$7,067$8,225$7,331$6,030$5,088$3,617$ All other Governmental Funds Reserved 2,096$2,610$2,369$2,469$2,796$3,951$11,092$6,314$ Unreserved. Reported in: Special Revenue Funds 3,244$3,917$4,140$5,408$7,250$5,479$5,316$5,108$ Capital projects funds 1,968$(7,203)$(4,327)$(5,737)$(4,703)$(5,543)$(1,731)$(6,654)$ Permanent Funds 315$327$343$371$399$419$439$416$ Debt service funds -$-$-$-$-$-$-$-$ Total all other governmental funds 7,624$(348)$2,524$2,511$5,742$4,306$15,116$5,184$ Information for years prior to 2003 is not available in comparable format. Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 2010 (modified accrual basis of accounting) (in 000's) Fiscal Year Schedule 3 City of Salina, Kansas Fund Balances, Governmental Funds Last Eight Fiscal Years 96 2003 2004 2005 2006 2007 2008 2009 2010 Revenues Taxes (see Schedule 5)24,174$25,152$25,590$28,282$29,379$30,788$32,706$32,702$ Intergovernmental 2,731$5,659$2,785$3,127$3,363$3,741$3,153$3,404$ Special Assessments 1,448$1,340$1,143$1,207$1,444$1,178$1,269$1,385$ Licenses and permits 20$18$14$18$18$10$10$11$ Charges for services 6,146$6,364$7,225$7,099$7,131$7,415$6,767$8,934$ Investment revenue 322$362$486$1,021$983$490$210$64$ Reimbursements 52$465$650$406$153$39$140$71$ Miscellaneous 1,208$509$501$488$650$597$438$448$ Total revenues 36,100$39,870$38,392$41,648$43,120$44,258$44,693$47,019$ Expenditures General Government 2,208$2,685$2,706$2,721$2,842$3,600$3,007$3,549$ Public Safety 12,208$12,724$13,673$14,309$16,175$17,945$17,883$18,229$ Public Works 5,106$5,157$5,508$5,712$6,171$6,593$6,643$6,634$ Public Health and Sanitation 882$981$1,067$1,178$1,245$1,276$1,353$1,332$ Culture and Recreation 4,355$4,470$4,776$4,653$5,204$5,142$4,947$5,777$ Planning and Development 4,405$4,025$2,607$2,588$2,707$3,377$3,269$3,609$ Miscellaneous 20$-$-$-$-$-$-$32$ Capital Outlay 5,165$10,824$8,580$10,783$7,615$10,581$17,707$18,603$ Debt Service Principal 7,179$2,611$2,534$2,625$4,806$2,812$4,667$5,960$ Interest 1,063$866$755$1,009$1,266$1,567$1,596$2,258$ Deposit to Escrow -$-$-$-$-$-$-$107$ Total Expenditures 42,591$44,343$42,208$45,578$48,031$52,892$61,072$66,090$ Other financing sources (uses) Bonds and Notes issued 8,600$6,707$4,210$4,885$6,545$7,245$23,695$7,034$ Bond and Note Premium 80$1,369$47$ Transfers in 600$1,066$1,399$2,245$2,349$2,823$3,617$5,076$ Transfers out (600)$(1,087)$(1,365)$(2,055)$(1,737)$(2,763)$(3,422)$(4,984)$ Issuance Costs (9)$(2)$-$-$-$-$-$-$ Other -$(5,389)$-$-$91$-$-$-$ Total other financing sources (uses)8,591$1,296$4,244$5,075$7,248$7,385$25,259$7,173$ Net change in fund balance 2,100$(3,177)$428$1,145$2,337$(1,250)$8,880$(11,898)$ Debt service as a percentage of non-capital expenditures 28%12%11%12%18%12%17%21% Information prior to 2003 is not available in comparable format. Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 2010 (modified accrual basis of accounting) (in 000's) Fiscal Year Schedule 4 City of Salina, Kansas Changes in Fund Balances, Governmental Funds Last Eight Fiscal Years 97 2003 2004 2005 2006 2007 2008 2009 2010 Real Estate 7,417$7,677$7,904$8,373$8,662$9,084$9,971$9,756$ Delinquent 177$228$213$173$185$263$760$278$ Motor Vehicle 1,208$1,057$1,079$1,105$1,131$1,120$1,135$1,145$ General Sales 9,913$10,501$10,556$11,137$11,472$11,986$11,669$11,117$ Selective Sales 2,114$2,264$2,280$2,417$2,484$2,589$3,380$4,108$ Other Taxes 3,345$3,426$3,557$5,076$5,445$5,747$5,791$6,298$ Total Taxes 24,174$25,152$25,590$28,282$29,379$30,788$32,706$32,702$ Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 2010 (modified accrual basis of accounting) (in 000's) Fiscal Year Schedule 5 City of Salina, Kansas Tax Revenues by Source, Governmental Funds Last Eight Fiscal Years 98 Assessed Value Fiscal (Budget) Year Real Estate Personal Property State Assessed Total, Non- Vehicle Assessed Value Direct Rate, Excluding Motor Vehicles Motor Vehicle (Note 1) Total, Taxable Assessed Value Estimated Total Market Value (Note 2) Ratio of Assessed Value to Est. Market Value 2001 241,621,655 32,439,566 14,088,875 288,150,096 24.365 43,246,020 331,396,116 2,096,802,659 15.80 2002 254,343,715 31,823,431 14,847,520 301,014,666 24.218 43,248,108 344,262,744 2,182,563,473 15.77 2003 267,175,443 35,093,154 14,866,008 317,134,605 24.092 45,965,839 363,100,444 2,296,900,695 15.81 2004 277,456,813 35,386,133 15,750,780 328,593,726 24.013 46,679,982 375,273,018 2,368,264,683 15.85 2005 282,517,284 35,410,526 17,334,372 335,262,182 24.063 48,687,121 383,949,303 2,529,377,135 15.18 2006 296,537,399 38,662,356 17,624,030 352,823,785 23.999 49,367,870 402,191,655 2,229,131,633 18.04 2007 321,695,326 39,691,690 16,530,171 377,917,187 23.789 50,551,299 428,468,486 2,416,543,103 17.73 2008 342,045,389 35,089,042 15,594,056 392,728,487 23.959 50,548,706 443,277,193 2,612,229,468 16.97 2009 356,678,712 28,373,980 14,929,456 399,982,148 25.886 51,351,656 451,333,804 2,914,775,730 15.48 2010 358,979,211 24,760,806 13,730,609 397,470,626 25.855 50,330,252 447,800,878 2,893,359,541 15.48 Note 1: The tax rate for motor vehicles is set based on the average countywide tax rate. The City of Salina then receives a share of that based on relative tax effort. Note 3: The Direct rate is expressed in dollars per thousand dollars of assessed value. Souce: Saline County Clerk Note 2: The estimated market value excludes the value of the State assessed properties. Market value information is not available for those properties. However, state assessed property is generally assesed at 33% of market value, except for railroads, which are assessed at 25% of market value. Schedule 6 City of Salina, Kansas Assessed and Estimated Actual Value of Taxable Property Last Ten Fiscal Years 99 City of Salina Saline County USD 305 (2)Other (1)Total Fiscal (Budget) Year Operating Millage Debt Service Millage Total City Millage Operating Millage Debt Service Millage Total County Millage Operating Millage Debt Service Millage Total USD Millage Other 2000 19.382 5.494 24.876 23.187 23.187 38.698 17.623 56.321 9.444 113.828 2001 19.097 5.268 24.365 22.337 23.837 41.198 17.326 58.524 9.109 115.835 2002 18.561 5.657 24.218 24.066 24.066 51.115 17.063 68.178 9.330 125.792 2003 18.581 5.511 24.092 25.667 25.657 38.569 18.815 57.384 9.684 116.817 2004 20.017 3.996 24.013 28.081 28.081 38.288 18.344 56.632 9.848 118.574 2005 20.055 4.008 24.063 28.874 28.874 42.175 17.491 59.666 10.984 123.587 2006 20.001 3.989 23.990 28.579 28.579 40.136 15.046 55.182 10.960 118.711 2007 19.835 3.954 23.789 27.955 27.955 41.903 13.349 55.252 10.726 117.722 2008 20.047 3.912 23.959 27.435 27.955 42.761 12.229 54.990 10.775 117.679 2009 21.749 4.137 25.886 29.347 27.955 46.339 12.208 58.547 10.971 123.359 2010 20.082 5.773 25.855 31.303 27.955 45.341 13.155 58.496 12.401 124.707 Source: Saline County Clerk (2) A small portion of Salina is covered by USD 306, USD 307, or USD 400. Total Tax Rates are different in the areas covered by these jurisdictions.100(1) The "Other" column includes the State of Kansas, the Salina Airport Authority, and the Salina Public Library. Beginning in 2005, this also includes Kansas State Extension District #3. Schedule 7 City of Salina, Kansas Direct and Overlapping Property Tax Rates Last Ten Fiscal Years (rate per $1,000 of assessed value) Taxpayer Type of Business Assessed Valuation % of Total Valuation Rank Assessed Valuation % of Total Valuation Rank Schwan's Sales Pizza Manufacturing 7,165,506$2.08%1 10,144,446$2.55%1 Warmack, Salina Partnership (IPFOA)Retail Shopping Mall 5,768,772 1.68%3 8,704,250 2.19%2 Salina Regional Health Center Hospital and Medical Offices 2,929,175 0.85%6 5,584,461 1.40%3 Western Resources Utility 5,894,713 1.71%2 5,191,056 1.31%4 Wal-Mart Stores, Inc.Discount Retail Stores 4,259,288 1.24%5 3,913,855 0.98%5 Gateway Properties Shopping Mall (Midstate)#N/A 3,556,009 0.89%6 Kansas Gas Service Utility 2,457,993 0.71%7 3,499,876 0.88%7 Southwestern Bell Telephone Utility 5,337,109 1.55%4 3,455,419 0.87%8 Sunflower Bank Bank #N/A 2,749,200 9 Great Plains Manufacturing Manufacturing 1,714,226 0.50%9 2,526,984 0.64%10 Sunset Plaza, Inc. (Bradley Operating)Retail Shopping Mall 1,433,432 0.42%10 #N/A Dillon's Grocery Chain 2,000,604 0.58%8 #N/A Combined Valuation of the Ten Largest Taxpayers 36,960,214$49,325,556$ City Valuation 344,262,744$397,470,626$ Percent of Total City Assessed Valuation (1)8.65%9.17% Source: Saline County Clerk's Office101 2010 (2009 Assessed Value)2001 (2000 Assessed Value) Schedule 8 City of Salina, Kansas Principal Property Tax Payers Current Year and Nine Years Ago Fiscal (Budget) Year Taxes Levied for the fiscal year Amount Percentage Delinquent Collections (1)Amount Percentage of levy 2000 6,694,612 6,490,693 97.0%105,801 6,596,494 98.5% 2001 7,020,875 6,831,220 97.3%147,819 6,979,039 99.4% 2002 7,289,916 7,108,013 97.5%174,050 7,282,063 99.9% 2003 7,640,249 7,417,427 97.1%176,906 7,594,333 99.4% 2004 7,890,387 7,677,415 97.3%227,578 7,904,993 100.2% 2005 8,067,300 7,904,231 98.0%382,236 8,286,467 102.7% 2006 8,467,343 8,373,363 98.9%173,093 8,546,456 100.9% 2007 8,990,268 8,661,700 96.3%185,488 8,847,188 98.4% 2008 9,409,338 9,083,917 96.5%262,511 9,346,428 99.3% 2009 10,354,161 9,923,959 95.8%759,764 10,683,723 103.2% 2010 10,276,905 9,704,937 94.4%278,656 9,983,593 97.1% Source: Saline County Treasurer's Office (1) Delinquent collections are reported in the aggregate for all previous years. Data is not currently available for "collected in subsequent years" Current Year Tax Distributions Schedule 9 City of Salina, Kansas Property Tax Levies and Distributions Last Ten Fiscal Years Total Tax Distributions 102 2002 2003 2004 2005 2006 2007 2008 2009 2010 City Direct Tax Rate (Note 3) General 0.50%0.50%0.50%0.50%0.50%0.50%0.50%0.50%0.50% Special Purpose 0.25%0.25%0.25%0.25%0.25%0.25%0.25%0.25%/0.40%0.40% County-wide Tax Rate 1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Portion of County-wide tax allocated to City (July Percentage)64.00%63.20%62.20%61.60%61.81%61.92%62.31%62.46%61.58%103Schedule 10 City of Salina, Kansas Direct Sales Rate by Taxing Entity Last Nine Fiscal Years In November 2008, the voters approved an increase in the Special Purpose Tax rate from .25% to .40%, to be effective April 1, 2009. In addition to the direct tax, the City recieves a portion of the Countywide sales tax, based on a formula distribution. The formula is based on property tax effort and population, and is adjusted in January and July of each year. As a result, totals do not match the amounts disclosed on the Statement of Activities. Fiscal Year Source: Kansas Department of Revenue .25% to .40%, to be effective April 1, 2009. Accts Water Accts Water Accts Water Accts Water Accts Water Accts Water Accts Water Accts Water Accts Water Accts Water Rate Class Billed Sold Billed Sold Billed Sold Billed Sold Billed Sold Billed Sold Billed Sold Billed Sold Billed Sold Billed Sold Residential 17,165 1,194,411 17,234 1,300,332 17,315 1,205,142 17,432 1,127,078 17,576 1,187,130 17,637 1,164,293 17,750 1,080,015 17,813 994,875 17,792 1,043,774 17,838 1,127,864 Commercial 1,530 358,628 1,516 367,440 1,503 352,025 1,542 346,251 1,580 358,659 1,586 357,488 1,592 331,440 1,591 333,720 1,589 339,507 1,568 350,633 Industrial 44 255,019 44 245,126 43 205,574 43 203,977 43 181,325 43 180,900 46 237,698 48 203,491 46 152,910 44 183,166 Government 111 65,912 115 78,457 118 66,134 126 66,623 146 102,994 150 74,768 151 58,568 152 68,366 104 41,793 85 42,714 Apartment 200 43,739 202 52,778 200 56,587 198 56,251 195 56,359 187 56,340 184 55,500 182 64,703 182 71,503 172 71,121 Schools 89 48,866 84 50,373 80 43,645 82 43,571 81 41,187 81 44,925 80 36,953 81 38,835 84 39,815 85 46,386 Industrial Special 1 28,208 1 32,061 1 38,002 1 39,187 1 39,551 1 37,508 1 35,813 1 42,574 1 32,934 1 44,457 Consumed in Production 173 47,702 27 45,395 25 36,185 22 32,324 21 31,570 19 28,583 18 26,070 18 28,699 18 26,223 17 32,604 Rural Water 1 27,292 1 26,775 1 27,918 1 27,277 1 28,889 1 28,395 1 23,963 1 24,798 1 22,824 1 23,854 Hospitals 14 28,284 14 28,846 14 24,721 14 22,884 15 17,126 15 13,088 15 13,755 15 18,723 13 20,488 12 18,503 Religious/Non Profit 33 8,211 35 9,564 37 8,074 40 9,362 40 9,521 39 8,888 41 7,463 40 6,913 39 7,312 39 5,569 Other Taxable Deductions 7 14,007 7 13,863 6 11,105 6 10,690 5 8,995 5 6,630 5 9,975 4 8,023 ---- Engineering Studies 8 7,636 8 10,078 8 9,307 8 9,339 8 6,283 8 6,135 8 5,805 8 5,327 8 6,176 8 5,266 Providing Taxable Service 2 4,997 2 5,329 2 5,232 2 5,562 2 5,677 2 5,850 2 5,010 2 4,663 2 4,869 2 5,494 Sale of Component Parts 7 6,597 7 5,570 8 5,428 8 5,265 8 5,473 8 5,280 8 5,040 8 5,748 8 5,200 8 5,851 Fire Hydrant 28 1,772 4 3,011 3 5,015 3 2,887 4 5,232 3 1,598 2 495 3 1,147 2 1,032 3 2,424 Industrial Consumed in Produ 3 2,504 3 2,370 3 1,624 3 2,206 3 2,350 3 3,510 3 3,593 3 3,230 3 2,314 3 4,083 Sales of Farm Equipment 1 31 1 429 1 203 1 131 1 213 1 308 1 180 1 256 1 205 1 213 19,418 2,143,817 19,304 2,277,796 19,368 2,101,921 19,531 2,010,864 19,730 2,088,534 19,789 2,024,483 19,908 1,937,333 19,971 1,854,091 19,893 1,818,879 19,887 1,970,202 Water Rate Schedule: Monthly Meter Charge (5/8")2.75$2.89$2.89$3.05$3.21$3.38$$3.57 3.75$4.44$4.51$ Commodity Charge (per hundred cubic ft): 0 - 2000 cf.2.03$2.09$2.09$2.13$2.16$2.21$$2.42 2.54$2.34$2.55$ 2001 - 10,000 cf 1.82$1.87$1.87$1.91$1.94$1.99$$2.20 2.31$ Over 10,000 cf 1.63$1.68$1.68$1.71$1.73$1.77$$1.97 2.07$ Excess Use Charge 4.68$5.10$ Wastewater Rate Schedule: Monthly Base Charge 2.75$2.75$2.89$3.03$3.18$$3.34 3.51$6.31$6.42$ Unit cost (per hundred cubic ft):1.99$1.99$2.11$2.23$2.36$$2.50 2.63$2.88$3.08$ Water sold is expressed in thousands of gallons. Information before 2001 is not available in a consistant format. Number of Accounts billed is the annual number of billings for each class divided by 12. Monthly meter charge increases with the size of the meter. Residential Wastewater is calculated based on Winter Quarter water consumption. Other accounts are based on monthly water consumption. Wastewater fee structure in 2001 was not on a comparable basis 2008 Water Consumption Rate Structure changed from a decreasing tier structure to one rate and Excess Use Charge which is double the consumption rate Source: City of Salina Water Customer Accounting Office. 2010 104Schedule 11 City of Salina, Kansas Water Sales by Class of Customer Last Ten Fiscal Years 200920072006200520082001200220032004 Fiscal Year General Obligation Bonds Capital Lease Temporary Notes General Obligation Bonds Water Revenue Bonds Loans Payable Temporary Notes Total Primary Government Percentage of Personal Income Per Capita 2002 17,728,189$-$4,865,000$7,187,753$6,790,000$7,574,256$-$44,145,198$3.4%959.20$ 2003 20,744,309 60,000 4,250,000 5,228,397 6,215,000 8,082,199 2,533,972 47,113,877 3.6%1,027.23 2004 19,257,270 41,150 6,875,000 7,400,295 5,615,000 7,777,264 -46,965,979 3.5%1,021.80 2005 21,202,921 20,944 2,700,000 6,258,456 4,990,000 7,460,602 -42,632,923 3.1%927.69 2006 21,497,408 -9,200,000 5,175,780 4,350,000 7,130,852 -47,354,040 3.0%1,008.82 2007 25,436,632 -7,625,000 3,888,368 3,710,000 6,786,743 -47,446,743 3.0%1,021.28 2008 29,869,930 -5,005,000 2,780,069 3,030,000 6,428,759 -47,113,758 2.7%1,013.57 2009 52,067,590 --2,320,000 2,320,000 5,862,516 -62,570,106 3.5%1,354.92 2010 53,120,952 -2,500,000 8,614,576 1,580,000 --65,815,528 3.8%1,379.58 Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 2010 105Governmental Activities Business-Type Activities Schedule 12 City of Salina, Kansas Ratio of Outstanding Debt by Type Last Nine Fiscal Years Fiscal Year General Obligation Bonds Capital Lease Temporary Notes Total Less Debt Service Fund Net General Bonded Debt Percentage of Actual Taxable Value of Per Capita 2002 24,915,942$-$4,865,000$29,780,942$1,000,030$28,780,912$8.4%625.36$ 2003 25,972,706 60,000 6,783,972 32,816,678 1,584,330 31,232,348 8.6%680.96 2004 26,657,565 41,150 6,875,000 33,573,715 1,317,062 32,256,653 8.6%701.78 2005 27,461,377 20,944 2,700,000 30,182,321 1,407,529 28,774,792 7.5%626.14 2006 26,673,188 -9,200,000 35,873,188 1,494,320 34,378,868 8.5%732.40 2007 29,325,000 -7,625,000 36,950,000 1,210,457 35,739,543 8.3%769.29 2008 32,649,999 -5,005,000 37,654,999 792,744 36,862,255 8.3%793.03 2009 54,387,590 --54,387,590 735,291 53,652,299 11.9%1,161.81 2010 61,735,528 -2,500,000 64,235,528 571,873 63,663,655 14.2%1,334.47 Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 2009 General Bonded Debt Outstanding Schedule 13 City of Salina, Kansas Ratio of Net General Bonded Debt Outstanding Last Nine Fiscal Years 106 City of Salina, Kansas Direct and Overlapping Governmental Activities Debt Jurisdiction Net General Obligation Bonded Debt Outstanding Percentage Applicable to City of Salina Amount Applicable to the City of Salina Direct: City of Salina 35,739,543$100%35,739,543$ Overlapping: Salina Airport Authority 27,345,000 100%27,345,000 Saline County 145,000 76%110,084 USD 305 47,870,000 93%44,476,017 Total Overlapping Debt 75,360,000 71,931,101 Total Direct and Overlapping Debt 111,099,543 107,670,644 Per Capita Direct and Overlapping debt 2,256.92$ Source: Saline County Clerk Schedule 14 Percentage of debt applicable to the City of Salina is based on the proportion that the assessed valuation of the City of Salina bears to the assessed valuation of the overlapping entity. As of December 31, 2010 107 Assessed Valuation:447,800,878$ Debt Limit (30% of Assessed Value)134,340,263 Debt Applicable to limit: Total Bonded Debt 65,815,528 Less GO Debt Attributable to Exempt Purposes 5,252,470 Less Revenue Bonds 1,580,000 Less Loans - Less Fund Balance designated for Debt Service 571,873 Total Debt Applicable to Limitation 58,411,185 Legal debt margin 75,929,078 Fiscal Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Debt Limit 99,418,835$103,278,823$108,930,133$112,581,905$115,184,791$120,657,497$128,539,768$133,224,043$135,400,141$134,340,263$ Total net debt applicable to limit 24,132,488 28,780,912 31,172,348 32,485,503 28,774,792 28,774,792 35,739,543 36,862,255 53,652,299 58,411,185 Legal debt margin 75,286,347 74,497,911 77,757,785 80,096,402 86,409,999 91,882,705 92,800,225 96,361,788 81,747,842 75,929,078 Total net debt applicable to the limit as a percentage of debt limit 24%28%29%29%25%24%28%28%40%43%108Legal Debt Margin Calculation for 2010 Schedule 15 City of Salina, Kansas Legal Debt Margin Last Ten Fiscal Years Fiscal Year Utility Service Charges Less: Operating Expenses Net Available Revenue Principal Interest Coverage 2003 12,129,440 10,682,725 1,446,715 791,394 477,400 114% 2004 12,361,877 10,654,249 1,707,628 904,935 542,722 118% 2005 12,703,953 10,468,771 2,235,182 941,662 542,722 151% 2006 12,949,169 10,894,968 2,054,201 969,748 461,470 144% 2007 14,054,466 11,545,842 2,508,624 983,479 589,288 160% 2008 14,072,513 12,754,057 1,318,456 1,038,000 515,459 85% 2009 14,980,874 12,524,390 2,456,484 1,276,243 455,294 142% 2010 16,520,055 13,571,098 2,948,957 740,000 91,450 355% Source: City of Salina Comprehensive Annual Financial Reports, 2003 - 2010 Water/Sewer Revenue Bonds (Including Kansas Water Supply Loan) Schedule 16 City of Salina, Kansas Pledged Revenue Coverage Last Eight Fiscal Years 109 Fiscal Year Population Per Capita Personal Income (Saline County) Personal Income, Salina (interpolated) Unemployment Rate Labor Force, Saline County 2001 45,918 29,800 1,368,356,400$3.8%29,855 2002 46,023 28,500 1,311,655,500$4.1%29,989 2003 45,865 28,200 1,293,393,000$4.6%30,086 2004 45,964 29,600 1,360,534,400$4.8%30,600 2005 45,956 30,000 1,378,680,000$4.4%30,358 2006 46,940 33,900 1,591,266,000$3.7%30,539 2007 46,458 34,500 1,602,801,000$3.3%30,843 2008 46,483 37,392 1,738,097,000$3.9%29,222 2009 46,180 38,699 1,787,119,820$5.7%26,806 2010 47,707 38,752 1,738,097,000$6.4%26,155 Sources: Population: Kansas Division of the Budget. Personal income for Salina is derived from the population and per capita personal income for Saline County Per Capita Personal income as reported by the Bureau of Economic analysis Saline County Per capita personal income: Kansas Division of the budget. Personal income statistics are not available for the City of Salina. Schedule 17 City of Salina, Kansas Demographic and Economic Statistics Last Ten Fiscal Years 110 Employer Type of Business Employees Rank Percentage of Labor Force Employees Rank Percentage of Labor Force Tony's Pizza Service (Schwans)Frozen Pizza Manufacturing 2,300 1 7.9%1,850 1 6.3% Salina Regional Health Center Health Care 1,082 2 3.7%1,082 2 3.7% USD # 305 Public School System 935 3 3.2%935 3 3.2% Exide Battery's Automotive Battery Manufacturer 825 4 2.8%800 4 2.7% Great Plains Manufacturing Agrcultural and Landscaping Equipment 650 5 2.2%650 5 2.2% Phiilips Lighting Co.Fluorescent Lamps 605 7 2.1%600 6 2.1% City of Salina City Government 493 8 1.7%493 7 1.7% Saline County County Government 277 8 0.9% El Dorado National Busses/Recreational Vehicles 265 9 0.9%255 9 0.9% Raytheon Aircraft Aircraft Manufacturing 650 5 2.2%240 10 0.8% OCCK Assembly 263 10 0.9% Total 7,805 26.7%7,182 24.6% Source: Salina Chamber of Commerce 2001 2010 Schedule 18 City of Salina, Kansas Principal Employers Current Year and Nine Years Ago 111 2002 2003 2004 2005 2006 2007 2008 2009 2010 Governmental Activities: General government 19 19 19 18 18 18 18 18 15 Public safety 208 208 210 210 211 211 217 217 217 Public works 76 78 79 80 79 79 82 81 76 Public health and sanitation 3 3 2 2 2 2 2 2 2 Culture and recreation 45 48 48 48 48 48 42 40 38 Planning and development 23 23 24 26 25 25 25 24 18 Other (Internal Services)14 14 12 13 13 13 13 13 13 Total governmental activities 388 393 394 397 396 396 399 395 379 Business-type Activities: Solid waste disposal 12 12 12 12 11 11 11 10 10 Water and sewer 73 73 73 73 73 73 77 77 74 Sanitation 19 20 20 21 21 21 22 22 22 Golf course 6 6 6 6 6 6 6 6 6 Total business-type activities 110 111 111 112 111 111 116 115 112 Total primary government 498 504 505 509 507 507 515 510 491 Source: Salina Human Resources Department (excludes temporary/seasonal employees) Schedule 19 City of Salina, Kansas City Government Full Time Employees by Function/Program Last Ten Fiscal Years 112 GOVERNMENTAL AUDIT SECTION Federal Federal Grantor/Pass-Through CFDA Grantor/Program Title Number Revenues Expenditures Department of Housing and Urban Development Fair Housing Assistance Program 14.401 72,125$63,548$ Passed through the State of Kansas Community Development Block Grant ARRA Entitlement Grants 14.253 268,727 293,113 Passed through Kansas Housing Resources Corporation Homelessness Prevention and Rapid Re-Housing Program 14.257 72,448 72,448 Total Department of Housing and Urban Development 413,300 429,109 Department of Justice Passed Through the Kansas Department of Transportation: Enforcing Underage Drinking Laws Program 16.727 1,676 1,676 Total Department of Justice 1,676 1,676 Department of Transportation Passed Through the Kansas Department of Transportation: Highway Planning and Construction 20.205 253,423 84,552 State and Community Highway Safety 20.600 6,054 6,054 Alcohol Traffic Safety and Drunk Driving Prevention Incentive Grants 20.601 4,704 4,704 Total Department of Transportation 264,181 95,310 Total Expenditures of Federal Awards 679,157$526,095$ SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS CITY OF SALINA, KANSAS For the Year Ended December 31, 2010 See independent auditor's report on the financial statements and notes to the schedule of expenditures of federal awards. 113 114 CITY OF SALINA, KANSAS NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS For the Year Ended December 31, 2010 1. General The accompanying Schedule of Expenditures of Federal Awards presents the expenditures of all federal financial assistance programs of the City of Salina, Kansas. All expenditures of federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other governmental agencies are included on the schedule. 2. Basis of Accounting The accompanying Schedule of Expenditures of Federal Awards is presented in accordance with accounting principles generally accepted in the United States of America. 115 CITY OF SALINA, KANSAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS For the Year Ended December 31, 2010 Section I - Summary of Auditor’s Results Financial Statements Type of auditor’s report issued: Unqualified Internal control over financial reporting: Material weakness(es) identified? Yes X No Significant deficiency(ies) identified that are not considered to be material weaknesses? Yes X None reported Noncompliance material to financial statements noted? Yes X No Federal Awards Internal control over major programs: Material weakness(es) identified? Yes X No Significant deficiency(ies) identified that are not considered to be material weaknesses? Yes X None reported Type of auditor’s report issued on compliance for major programs: Unqualified Any audit findings disclosed that are required to be reported in accordance with section 510(a) of Circular A-133? Yes X No Identification of major programs: CFDA Number(s) Name of Federal Program or Cluster 14.253 CDBG-R Dollar threshold used to distinguish between type A and type B programs: $300,000 Auditee qualified as low-risk auditee? Yes X No 116 CITY OF SALINA, KANSAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued) For the Year Ended December 31, 2010 Section II - Financial Statement Findings None Noted Section III - Federal Award Findings and Questioned Costs None Noted 117 LOWENTHAL, WEBB & ODERMANN, P.A.David A. Lowenthal, CPA Patricia L. Webb, CPA Audrey M. Odermann, CPA ——— Abram M. Chrislip, CPA Caroline H. Eddinger, CPA Grant A. Huddin, CPA Brian W. Nyp, CPA ——— Members of American Institute and Kansas Society of Certified Public Accountants CERTIFIED PUBLIC ACCOUNTANTS 900 Massachusetts, Suite 301 Lawrence, Kansas 66044-2868 Phone: (785) 749-5050 Fax: (785) 749-5061 Website: www.lswwcpa.com INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH “GOVERNMENT AUDITING STANDARDS” Mayor and City Commissioners City of Salina, Kansas We have audited the financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, the budgetary comparison information, and the aggregate remaining fund information of the City of Salina, KS (the City) as of and for the year ended December 31, 2010, which collectively comprise the City’s basic financial statements and have issued our report thereon dated September 28, 2011. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in “Government Auditing Standards,” issued by the Comptroller General of the United States. Internal Control Over Financial Reporting In planning and performing our audit, we considered the City’s internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control over financial reporting. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies, or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses as defined above. 118 Compliance and Other Matters As part of obtaining reasonable assurance about whether the City’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under “Government Auditing Standards.” However, we noted certain other matters that we have reported to management in a separate letter dated September 28, 2011. This report is intended solely for the information and use of the city council, management and federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than those specified parties. September 28, 2011 119 LOWENTHAL, WEBB & ODERMANN, P.A.David A. Lowenthal, CPA Patricia L. Webb, CPA Audrey M. Odermann, CPA ——— Abram M. Chrislip, CPA Caroline H. Eddinger, CPA Grant A. Huddin, CPA Brian W. Nyp, CPA ——— Members of American Institute and Kansas Society of Certified Public Accountants CERTIFIED PUBLIC ACCOUNTANTS 900 Massachusetts, Suite 301 Lawrence, Kansas 66044-2868 Phone: (785) 749-5050 Fax: (785) 749-5061 Website: www.lswwcpa.com INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 Mayor and City Commissioners City of Salina, Kansas Compliance We have audited the compliance of City of Salina, KS (the City) with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) ”Circular A-133 Compliance Supplement” that are applicable to each of its major federal programs for the year ended December 31, 2010. The City’s major federal programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major federal programs is the responsibility of the City’s management. Our responsibility is to express an opinion on the City’s compliance based on our audit. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in “Government Auditing Standards,” issued by the Comptroller General of the United States; and OMB Circular A-133, “Audits of States, Local Governments, and Non-Profit Organizations.” Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the City’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the City’s compliance with those requirements. In our opinion, the City complied, in all material respects, with the requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended December 31, 2010. Internal Control Over Compliance The management of the City is responsible for establishing and maintaining effective internal control over compliance with requirements of laws, regulations, contracts and grants applicable to federal programs. In planning and performing our audit, we considered the City’s internal control over compliance with requirements that could have a direct and material effect on a major federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control over compliance. 120 A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. Our consideration of the internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in the internal control over compliance that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. This report is intended solely for the information and use of the city council, management and federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than those specified parties. September 28, 2011