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Audit - 2015 CITY OF SALINA, KANSAS Financial Statements and Schedule of Expenditures of Federal Awards For the Fiscal Year Ended December 31, 2015 CITY OF SALINA, KANSAS Financial Statements and Schedule Of Expenditures of Federal Awards For the year ended December 31, 2015 TABLE OF CONTENTS Page Independent Auditor’s Report 1 - 3 Basic Financial Statements: Government-wide Financial Statements Statement of Net Position 4 Statement of Activities 5 Fund Financial Statements Balance Sheet - Governmental Funds 6 Reconciliation of the Total Governmental Fund Balance to Net Position of Governmental Activities 7 Statement of Revenues, Expenditures, and Changes in Fund Balance - Governmental Funds 8 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance with the Government-Wide Statement of Activities 9 Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual (Non-GAAP Basis) General Fund 10 Tourism and Convention Fund 11 Special Gas Fund 12 Sales Tax Capital Fund 13 Statement of Net Position - Proprietary Funds 14 Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds 15 Statement of Cash Flows - Proprietary Funds 16 - 17 Statement of Assets and Liabilities - Agency Funds 18 Notes to the Basic Financial Statements 19 - 49 Required Supplementary Information Schedule of Funding Progress and Schedule of Employer Contributions 50 KPERS Pension Plan Schedule of City’s Proportionate Share of the Net Pension Liability 51 Schedule of City Contributions 51 CITY OF SALINA, KANSAS Financial Statements and Schedule Of Expenditures of Federal Awards For the year ended December 31, 2015 TABLE OF CONTENTS - CONTINUED Page Combining Statements and Individual Fund Schedules Combining Statements - Nonmajor Funds Fund Descriptions 52 - 53 Combining Balance Sheet - Nonmajor Governmental Funds 54 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 55 Combining Balance Sheet - Nonmajor Special Revenue Funds 56 - 57 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Special Revenue Funds 58 - 59 Combining Balance Sheet - Nonmajor Permanent Funds 60 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Permanent Funds 61 Individual Fund Schedules of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (Non-GAAP Basis): Bicentennial Center Fund 62 Business Improvement City Fund 63 Neighborhood Park Fund 64 Special Parks and Recreation Fund 65 Special Alcohol Fund 66 Sales Tax Economic Development Fund 67 Arts & Humanities Fund 68 Debt Service Fund 69 Solid Waste Disposal Fund 70 Water and Sewer Fund 71 Sanitation Fund 72 Golf Course Fund 73 Workers’ Compensation Reserve Fund 74 Health Insurance Fund 75 Central Garage Fund 76 Internal Service Fund Descriptions 77 Combining Statement of Net Position - Internal Service Funds 78 Combining Statement of Revenues, Expenses, and Changes in Net Position - Internal Service Funds 79 Combining Statement of Cash Flows - Internal Service Funds 80 - 81 Fiduciary Fund Descriptions - Agency Funds 82 Combining Balance Sheet - Agency Funds 83 Combining Statement of Changes in Assets and Liabilities - Agency Funds 84 CITY OF SALINA, KANSAS Financial Statements and Schedule Of Expenditures of Federal Awards For the year ended December 31, 2015 TABLE OF CONTENTS - CONTINUED Page Schedule of Expenditures of Federal Awards 85 Notes to Schedule of Expenditures of Federal Awards 86 Schedule of Findings and Questioned Costs 87 - 90 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” 91 - 92 Independent Auditor’s Report on Compliance for Each Major Program and on Internal Control over Compliance Required by the Uniform Guidance 93 - 94 www.mizehouser.com  mhco@mizehouser.com 534 S Kansas Ave, Suite 700  Topeka, KS 66603-3465  785.233.0536 p  785.233.1078 f 534 S Kansas Ave, Suite 400  Topeka, KS 66603-3454  785.234.5573 p  785.234.1037 f 7101 College Blvd, Suite 900  Overland Park, KS 66210-1984  913.451.1882 p  913.451.2211 f 211 E Eighth Suite A Lawrence, KS 66044-2771  785.842.8844 p  785.842.9049 f 1 INDEPENDENT AUDITOR’S REPORT Mayor and City Commissioners City of Salina, Kansas Report on the Financial Statements 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, 2015, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on the financial statement based on our audit. We conducted our audit 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 the Kansas Municipal Audit and Accounting Guide. Those standards require we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement. We did not audit the financial statements of the Salina Airport Authority which statements reflect total assets and deferred outflows of resources of $46,404,451 as of December 31, 2015 and total revenues of $4,170,264 for the year then ended, and the Housing Authority of the City of Salina which statements reflect total assets and deferred outflows of resources of $7,561,852 as of June 30, 2015 and total revenues of $2,364,932 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. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 2 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, as of December 31, 2015, and the respective changes in financial position and cash flows, where applicable, thereof and the respective budgetary comparison for the General, Tourism and Convention, Special Gas and Sales Tax Capital Funds for the year then ended in accordance with accounting principles generally accepted in the United States of America. Emphasis of Matter Change in Accounting Principle As described in Note 3 to the financial statements, the City implemented GASB 68 during the current year. As a result of the implementation, a restatement was made to the net position for the proportionate share of the City’s net pension liability at December 31, 2014. Our opinion is not modified with respect to this matter. Prior Period Restatement As discussed in Note 3 to the financial statements, certain errors resulting in amounts previously reported as expenses, capital assets, deferred charges on bond issuances and capital leases as of December 31, 2014, were discovered by management of the City during the current year. Accordingly, these amounts have been restated in the December 31, 2015, financial statements now presented, and adjustments have been made to net position to correct the error. Our opinion is not modified with respect to these matters. Other Matters Required Supplementary Information The City has not presented management discussion and analysis that accounting principles generally accepted in the United States of America has determined is necessary to supplement, although not required to be a part of, the basic financial statements. Accounting principles generally accepted in the United States of America require that the schedules of funding progress on page 50, the schedule of the City’s proportionate share of the net pension liability on page 51, and the schedule of City contributions on page 51 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. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual nonmajor fund financial statements and schedules 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 schedule of expenditures of federal awards is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and is also not a required part of the basic financial statements. The combining and individual nonmajor fund financial statements, budgetary comparison 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 basic 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. 3 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 26, 2017, on our consideration of the City’s internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants 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 the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance. Certified Public Accountants Lawrence, Kansas June 26, 2017 Total Total Total Salina Salina Governmental Business-type Primary Housing Airport Activities Activities Government Authority Authority ASSETS AND DEFERRED OUTLFOWS OF RESOURCES Current assets: Cash and investments 14,508,203$ 28,415,391$ 42,923,594$ 1,631,114$ 719,084$ Receivables (net of allowance for uncollectibles) Accounts 1,840,153 1,515,432 3,355,585 29,813 127,534 Taxes 11,809,338 - 11,809,338 - - Interest 10,735 16 10,751 - - Inventory 305,703 488,578 794,281 26,112 - Restricted cash and investments - - - 153,627 - Prepaid expenses - - - 36,982 157,892 Total current assets 28,474,132 30,419,417 58,893,549 1,877,648 1,004,510 Noncurrent assets: Capital assets, nondepreciable Construction in progress 19,019,623 13,579,083 32,598,706 144,403 906,356 Land 23,263,030 1,546,806 24,809,836 1,456,891 9,843,426 Capital assets, depreciable 245,001,219 131,357,885 376,359,104 8,122,489 71,332,228 Less: Accumulated depreciation 106,042,539 55,887,493 161,930,032 4,060,239 36,688,486 Total noncurrent assets 181,241,333 90,596,281 271,837,614 5,663,544 45,393,524 Total assets 209,715,465 121,015,698 330,731,163 7,541,192 46,398,034 Deferred outflows of resources: Pension - difference between expected and actual experience 149,622 - 149,622 - - Pension - contributions subsequent to the measurement date 1,784,758 185,364 1,970,122 20,660 6,417 Pension - changes in proportion 345 136 481 - - Deferred charge on bond issuance 336,828 274,528 611,356 - - Total deferred outflows of resources 2,271,553 460,028 2,731,581 20,660 6,417 Total assets and deferred outflows of resources 211,987,018$ 121,475,726$ 333,462,744$ 7,561,852$ 46,404,451$ Liabilities: Current liabilities: Accounts payable 2,203,492$ 1,019,095$ 3,222,587$ 36,555$ 91,126$ Retainage payable 503,396 387,051 890,447 - - Accrued liabilities 456,533 - 456,533 37,718 139,332 Matured bond principal and interest 145 - 145 - - Accrued interest payable 410,475 280,121 690,596 - 319,615 Deposits payable - 178,910 178,910 94,979 - Current portion of compensated absences 1,482,001 321,439 1,803,440 2,307 - Current portion of temporary notes payable 5,995,000 - 5,995,000 - - Current portion of loans payable - 387,077 387,077 - - Current portion of revenue bonds payable - 663,696 663,696 - - Current portion of financing leases payable 158,192 - 158,192 - 55,696 Current portion of special assessment debt payable - - - - 19,197 Current portion of general obligation bonds payable 5,216,252 1,073,573 6,289,825 - 1,035,000 Total current liabilities 16,425,486 4,310,962 20,736,448 171,559 1,659,966 Noncurrent liabilities: Accrued liabilities 100,508 - 100,508 325,559 - Compensated absences 1,396,289 305,153 1,701,442 20,764 - Security deposits returnable - - - - 37,702 Net OPEB obligation 4,267,321 416,684 4,684,005 - - Net pension liability 23,598,676 2,824,797 26,423,473 - 545,977 Loans payable - 5,366,543 5,366,543 - - Revenue bonds payable - 13,285,443 13,285,443 - - Financing leases payable 321,174 - 321,174 - - Special assessment debt payable - - - - 11,268 General obligation bonds payable 45,624,380 7,466,199 53,090,579 - 21,756,330 Landfill post-closure care liabilities - 1,902,252 1,902,252 - - Total noncurrent liabilities 75,308,348 31,567,071 106,875,419 346,323 22,351,277 Total liabilities 91,733,834 35,878,033 127,611,867 517,882 24,011,243 Deferred inflows of resources: Unavailable revenue - property taxes 11,270,014 - 11,270,014 10,265 44,212 Pension - difference between expected and actual experience 478,347 79,965 558,312 - 113,729 Pension - net difference between projected and actual earnings on pension plan investments 801,065 109,959 911,024 - - Pension - changes of assumptions 264,622 39,479 304,101 - - Pension - change in proportion 735,733 139,038 874,771 - - Total deferred inflows of resources 13,549,781 368,441 13,918,222 10,265 157,941 Total liabilities and deferred inflows of resources 105,283,615$ 36,246,474$ 141,530,089$ 528,147$ 24,169,184$ Net Position Net investment in capital assets 130,400,701$ 68,107,370$ 198,508,071$ 5,663,544$ 22,516,034$ Restricted for: Permanent funds: Expendable 478,999 - 478,999 28,140 - Debt service 745,339 1,512,125 2,257,464 - - Unrestricted [24,921,636] 15,609,757 [9,311,879] 1,342,021 [280,767] Total net position 106,703,403$ 85,229,252$ 191,932,655$ 7,033,705$ 22,235,267$ Primary Government CITY OF SALINA, KANSAS STATEMENT OF NET POSITION December 31, 2015 Component Units The notes to the basic financial statements are an integral part of this statement. 4 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 10,742,987$ 3,151,436$ 754,016$ -$ [6,837,535]$ -$ [6,837,535]$ -$ -$ Public safety 21,083,431 4,600,375 682,827 - [15,800,229] - [15,800,229] - - Public works 9,049,101 192,553 1,431,755 - [7,424,793] - [7,424,793] - - Public health and sanitation 994,680 45,566 184,555 - [764,559] - [764,559] - - Culture and recreation 6,516,702 1,500,871 195,097 - [4,820,734] - [4,820,734] - - Planning and development 1,915,399 73,254 145,970 - [1,696,175] - [1,696,175] - - Interest on long-term debt 1,774,410 - - - [1,774,410] - [1,774,410] - - Total governmental activities 52,076,710 9,564,055 3,394,220 - [39,118,435] - [39,118,435] - - Business-type activities: Solid Waste Disposal 1,766,480 2,518,532 - - - 752,052 752,052 - - Water and Sewer 11,711,823 19,058,855 - - - 7,347,032 7,347,032 - - Sanitation 1,909,251 2,528,829 - - - 619,578 619,578 - - Golf Course 820,539 819,945 - - - [594] [594] - - Total business-type activities 16,208,093 24,926,161 - - - 8,718,068 8,718,068 - - Total primary government 68,284,803$ 34,490,216$3,394,220$ -$ [39,118,435] 8,718,068 [30,400,367] - - Component units: Salina Housing Authority 2,328,836$ 369,355$ 1,773,035$ 97,525$ - - - [88,921] - Salina Airport Authority 5,644,898 1,787,840 - 217,112 - - - - [3,639,946] Total component units 7,973,734$ 2,157,195$ 1,773,035$ 314,637$ - - - [88,921] [3,639,946] General Revenues: Property taxes levied for General purposes 8,242,146 - 8,242,146 - 2,028,074 Debt service 2,765,813 - 2,765,813 - - Motor vehicle tax General purposes 1,312,358 - 1,312,358 - - Sales tax General purposes 12,930,811 - 12,930,811 - - Selective purposes 4,558,035 - 4,558,035 - - Other taxes General purposes 7,362,412 - 7,362,412 - - Investment revenues 86,123 56,031 142,154 7,242 286 Reimbursements - 100 100 - - Miscellaneous 2,371,060 132,402 2,503,462 117,775 136,952 Transfers, net 3,819,309 [3,781,685] 37,624 - - Subtotal general revenues 43,448,067 [3,593,152] 39,854,915 125,017 2,165,312 Change in net position 4,329,632 5,124,916 9,454,548 36,096 [1,474,634] Net position - beginning 127,878,328 82,778,234 210,656,562 7,373,068 24,247,520 Prior period adjustment [25,504,557] [2,673,898] [28,178,455] [375,459] [537,619] Net position - beginning, restated 102,373,771 80,104,336 182,478,107 6,997,609 23,709,901 Net position - ending 106,703,403$85,229,252$ 191,932,655$7,033,705$22,235,267$ Changes in Net Position Component UnitsPrimary GovernmentProgram Revenues CITY OF SALINA, KANSAS STATEMENT OF ACTIVITIES For the Year Ended December 31, 2015 Net [Expenses] Revenue and The notes to the basic financial statements are an integral part of this statement. 5 Tourism and Special General Convention Gas ASSETS Cash and investments 3,958,353$ 216,807$ 402,415$ Receivables (net) Accounts 1,015,867 366,306 - Taxes 8,403,904 - 314,751 Interest 10,735 - - Inventory 111,614 - - Due from other funds 20,861 - - Cash with fiscal agent - - - Total assets 13,521,334$ 583,113$ 717,166$ LIABILITIES, DEFERRED INFLOW S OF RESOURCES AND FUND BALANCES Liabilities: Accounts payable 448,541$ 418,824$ 77,524$ Retainage payable - - 1,495 Due to other funds - - - Matured principal and interest - - - Temporary notes payable - - - Total liabilities 448,541 418,824 79,019 Deferred inflows of resources Unavailable revenue - property taxes 8,232,607 - - Total deferred inflows of resources 8,232,607 - - Fund balance: Nonspendable 111,614 - - Restricted - 164,289 532,678 Committed - - - Assigned 198,717 - 105,469 Unassigned 4,529,855 - - Total fund balances 4,840,186 164,289 638,147 Total liabilities, deferred inflows of resources and fund balances 13,521,334$ 583,113$ 717,166$ BALANCE SHEET CITY OF SALINA, KANSAS December 31, 2015 GOVERNMENTAL FUNDS Schilling Other Total Sales Tax Capital Debt Capital Governmental Governmental Capital Improvement Service Projects Funds Funds 1,622,631$ 5,554,768$ 692,063$ [3,499,129]$ 3,603,387$ 12,551,295$ - - - 454,369 3,611 1,840,153 - - 3,090,683 - - 11,809,338 - - - - - 10,735 - - - - - 111,614 - - - - - 20,861 - - 145 - - 145 1,622,631$ 5,554,768$ 3,782,891$ [3,044,760]$ 3,606,998$ 26,344,141$ 2,314$ 19,317$ -$ 995,819$ 182,814$ 2,145,153$ - - - 501,901 - 503,396 - - - - 20,861 20,861 - - 145 - - 145 - - - 5,995,000 - 5,995,000 2,314 19,317 145 7,492,720 203,675 8,664,555 - - 3,037,407 - - 11,270,014 - - 3,037,407 - - 11,270,014 - - - - - 111,614 - - 745,339 - 1,350,260 2,792,566 1,495,985 5,304,667 - - 1,894,788 8,695,440 124,332 230,784 - - 158,275 817,577 - - - [10,537,480] - [6,007,625] 1,620,317 5,535,451 745,339 [10,537,480] 3,403,323 6,409,572 1,622,631$ 5,554,768$ 3,782,891$ [3,044,760]$ 3,606,998$ 26,344,141$ 6 The notes to the basic financial statements are an integral part of this statement. Total Governmental Fund Balances 6,409,572$ Amounts reported for governmental activities in the statement of net position are different because Bond issuance costs are shown as current year expenditures in the funds. Bond issuance costs 336,828 Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds The cost of capital assets is 287,060,630 Accumulated depreciation is 105,861,177 181,199,453 Pension contributions are reported an expense in the funds and as a deferred outflow of resources in the governmental activities in the statement of net position.1,925,440 Pension fundings are reported an a revenue in the funds and as a deferred inflow of resources in the governmental activities in the statement of net position.[2,261,325] 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.1,390,096 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 2,841,581 Net OPEB obligation 4,267,321 Net pension liability 23,457,286 Bonds payable 50,840,632 Financing leases payable 479,366 Accrued interest on the bonds 410,475 [82,296,661] Net Position of Governmental Activities 106,703,403$ CITY OF SALINA, KANSAS RECONCILIATION OF THE TOTAL GOVERNMENTAL FUND BALANCE TO NET POSITION OF GOVERNMENTAL ACTIVITIES December 31, 2015 The notes to the basic financial statements are an integral part of this statement. 7 Tourism and Special General Convention Gas REVENUES: Taxes Real estate taxes 8,028,863$ -$ -$ Delinquent taxes 213,283 - - Motor vehicle taxes 1,001,054 - - General sales taxes 12,930,811 - - Selective sales taxes - - - Other taxes 5,663,843 1,698,569 - Intergovernmental 975,720 - 1,422,255 Special assessments - - - Licenses and permits - - - Charges for services 6,046,903 - - Investment revenue - 368 1,655 Reimbursements - - - Donations - - - Miscellaneous 498,557 - - Total revenues 35,359,034 1,698,937 1,423,910 EXPENDITURES: Current General government 5,342,433 - - Public safety 21,267,630 - - Public works 4,875,641 - 453,740 Public health and sanitation 754,347 - - Culture and recreation 4,039,856 - - Planning and development 586,358 1,202,932 - Miscellaneous - - - Capital outlay 1,041,690 - 1,256,839 Debt service Principal retirement - - - Interest and other charges - - - Total expenditures 37,907,955 1,202,932 1,710,579 Excess [deficiency] of revenue and other sources over [under] expenditures and other [uses][2,548,921] 496,005 [286,669] OTHER FINANCING SOURCES [USES] Issuance of bonds - - - Bond premium - - - Transfers in 3,644,350 - 170,000 Transfers [out][682,000] [882,839] [174,913] Total other financing sources [uses]2,962,350 [882,839] [4,913] Net change in fund balance 413,429 [386,834] [291,582] Fund balance - Beginning of year 4,254,432 551,123 929,729 Restatement of prior year fund balance 172,325 - - Fund balance - Beginning of year, as restated 4,426,757 551,123 929,729 Fund balance - End of year 4,840,186$ 164,289$ 638,147$ EXPENDITURES AND CHANGES IN FUND BALANCE STATEMENT OF REVENUES, CITY OF SALINA, KANSAS For the Year Ended December 31, 2015 GOVERNMENTAL FUNDS Schilling Other Total Sales Tax Capital Debt Capital Governmental Governmental Capital Improvement Service Projects Funds Funds -$ -$ 2,700,326$ -$ -$ 10,729,189$ - - 65,487 - - 278,770 - - 311,304 - - 1,312,358 - - - - - 12,930,811 4,204,376 - - - 353,659 4,558,035 - - - - - 7,362,412 - - - - 986,746 3,384,721 - - 1,679,019 - - 1,679,019 - - - - 9,500 9,500 - - - - 368,999 6,415,902 4,610 14,302 4,134 16,393 5,076 46,538 - - - 491,274 - 491,274 - - - - 83,391 83,391 - - 11,925 1,226,650 115,845 1,852,977 4,208,986 14,302 4,772,195 1,734,317 1,923,216 51,134,897 - - - - - 5,342,433 - - - - - 21,267,630 - - - - 3,281 5,332,662 - - - - 227,249 981,596 - - - - 1,619,484 5,659,340 - - - - 120,915 1,910,205 - - - - 35 35 2,686,381 2,074,552 - 17,965,828 502,090 25,527,380 - - 6,095,285 - 155,000 6,250,285 - - 1,602,053 94,483 136,030 1,832,566 2,686,381 2,074,552 7,697,338 18,060,311 2,764,084 74,104,132 1,522,605 [2,060,250] [2,925,143] [16,325,994] [840,868] [22,969,235] - - 1,210,000 5,615,000 - 6,825,000 - - - 368,598 - 368,598 - - 2,052,618 412,248 1,363,306 7,642,522 [1,816,750] - - [326,711] [30,000] [3,913,213] [1,816,750] - 3,262,618 6,069,135 1,333,306 10,922,907 [294,145] [2,060,250] 337,475 [10,256,859] 492,438 [12,046,328] 1,914,462 7,595,701 407,864 [280,621] 2,957,479 18,330,169 - - - - [46,594] 125,731 1,914,462 7,595,701 407,864 [280,621] 2,910,885 18,455,900 1,620,317$ 5,535,451$ 745,339$ [10,537,480]$3,403,323$ 6,409,572$ 8 The notes to the basic financial statements are an integral part of this statement. Total Net Change In Fund Balances - Governmental Funds [12,046,328]$ 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 position 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/[Loss] on sale of assets [4,155] Proceeds from sale of assets [74,685] Capital outlays 21,172,676 Depreciation expense [5,496,914] 15,596,922 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 decreased.58,156 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.585,779 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.[295,790] Pension payments are reported as expenditures in the governmental funds and do not affect the statement of net activities.1,129,005 Bond, temporary note and lease proceeds are other financing sources in the governmental funds, but they increase long-term liabilities in the statement of net position 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.[6,948,397] 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 position and does not affect the statement of activities.6,250,285 Changes In Net Position of Governmental Activities 4,329,632$ CITY OF SALINA, KANSAS RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE WITH THE GOVERNMENT-W IDE STATEMENT OF ACTIVITIES For the Year Ended December 31, 2015 The notes to the basic financial statements are an integral part of this statement. 9 CITY OF SALINA, KANSAS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) GENERAL FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Real estate taxes 8,028,863$ 8,122,487$ 8,122,487$ [93,624]$ Delinquent taxes 213,283 177,337 177,337 35,946 Motor vehicle taxes 1,002,014 898,404 898,404 103,610 General sales tax 12,930,811 13,150,000 13,150,000 [219,189] Other taxes 5,663,843 6,387,350 6,387,350 [723,507] Intergovernmental 975,720 1,014,759 1,014,759 [39,039] Charges for services 5,602,453 6,046,842 6,046,842 [444,389] Investment revenue 3,883 21,668 21,668 [17,785] Miscellaneous 502,403 514,117 514,117 [11,714] Total revenues 34,923,273 36,332,964 36,332,964 [1,409,691] Expenditures General government 5,019,120 4,110,237 4,110,237 [908,883] Public safety 21,262,910 17,131,981 17,131,981 [4,130,929] Public works 4,857,772 3,485,760 3,485,760 [1,372,012] Public health and sanitation 754,347 - - [754,347] Culture and recreation 4,035,739 4,273,595 4,273,595 237,856 Planning and development 586,358 2,782,434 2,782,434 2,196,076 Capital outlay 1,030,631 5,000,971 5,000,971 3,970,340 Total expenditures 37,546,877 36,784,978 36,784,978 [761,899] Excess [deficiency] of revenues over [under] expenditures [2,623,604] [452,014] [452,014] [2,171,590] Other financing sources [uses] Transfers in 3,644,350 4,114,855 4,114,855 [470,505] Transfers [out][682,000] [6,522,093] [6,522,093] 5,840,093 Total other financing sources [uses]2,962,350 [2,407,238] [2,407,238] 5,369,588 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]338,746 [2,859,252] [2,859,252] 3,197,998 Unreserved fund balance, January 1 2,811,061 3,095,087 3,095,087 [284,026] Restatement of prior year fund balance 172,580 - - 172,580 Unreserved fund balance, January 1, as restated 2,983,641 3,095,087 3,095,087 [111,446] Prior year cancelled encumbrances 9,569 - - 9,569 Unreserved fund balance, December 31 3,331,956 235,835$ 235,835$ 3,096,121$ Reconciliation to GAAP Interest receivable 10,735 Accounts receivable 1,015,867 Taxes receivable 8,403,904 Inventory 111,614 Deferred revenue [8,232,607] Current year encumbrances 198,717 GAAP Fund Balance, December 31 4,840,186$ Budgeted Amounts See independent auditor's report on the financial statements. 10 CITY OF SALINA, KANSAS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) TOURISM AND CONVENTION FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Other taxes 1,858,992$ 1,420,000$ 1,858,992$ -$ Investment revenue 368 - - 368 Total revenues 1,859,360 1,420,000 1,858,992 368 Expenditures Planning and development 1,202,932 745,000 1,000,549 [202,383] Total expenditures 1,202,932 745,000 1,000,549 [202,383] Excess [deficiency] of revenues over [under] expenditures 656,428 675,000 858,443 [202,015] Other financing sources [uses] Transfers [out][882,839] [675,000] [882,838] [1] Total other financing sources [uses][882,839] [675,000] [882,838] [1] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][226,411] - [24,395] [202,016] Unreserved fund balance, January 1 24,394 - 24,395 [1] Unreserved fund balance, December 31 [202,017] -$ -$ [202,017]$ Reconciliation to GAAP Accounts receivable 366,306 GAAP Fund Balance, December 31 164,289$ Budgeted Amounts See independent auditor's report on the financial statements. 11 CITY OF SALINA, KANSAS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) SPECIAL GAS FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Intergovernmental 1,418,249$ 1,432,730$ 1,432,730$ [14,481]$ Investment revenue 1,655 6,000 6,000 [4,345] Total revenues 1,419,904 1,438,730 1,438,730 [18,826] Expenditures Public works 453,740 520,040 520,040 66,300 Capital outlay 1,398,409 1,610,749 1,610,749 212,340 Total expenditures 1,852,149 2,130,789 2,130,789 278,640 Excess [deficiency] of revenues over [under] expenditures [432,245] [692,059] [692,059] 259,814 Other financing sources [uses] Transfers in 170,000 170,000 170,000 - Total other financing sources [uses]170,000 170,000 170,000 - Excess [deficiency] of revenues and other sources over [under][262,245] [522,059] [522,059] 259,814 expenditures and other [uses] Unreserved fund balance, January 1 376,059 522,059 522,059 [146,000] Prior year cancelled encumbrances 104,113 - - 104,113 Unreserved fund balance, December 31 217,927 -$ -$ 217,927$ Reconciliation to GAAP Taxes receivable 314,751 Current year encumbrances 105,469 GAAP Fund Balance, December 31 638,147$ Budgeted Amounts See independent auditor's report on the financial statements. 12 CITY OF SALINA, KANSAS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) SALES TAX CAPITAL FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Selective sales taxes 4,204,376$ 4,250,000$ 4,250,000$ [45,624]$ Investment revenue 4,610 5,000 5,000 [390] Total revenues 4,208,986 4,255,000 4,255,000 [46,014] Expenditures Capital outlay 1,919,720 3,034,588 3,034,588 1,114,868 Total expenditures 1,919,720 3,034,588 3,034,588 1,114,868 Excess [deficiency] of revenues over [under] expenditures 2,289,266 1,220,412 1,220,412 1,068,854 Other financing sources [uses] Transfers [out][1,816,750] [1,816,750] [1,816,750] - Total other financing sources [uses][1,816,750] [1,816,750] [1,816,750] - Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]472,516 [596,338] [596,338] 1,068,854 Unreserved fund balance, January 1 1,023,469 596,338 596,338 427,131 Unreserved fund balance, December 31 1,495,985 -$ -$ 1,495,985$ Reconciliation to GAAP Current year encumbrances 124,332 GAAP Fund Balance, December 31 1,620,317$ Budgeted Amounts See independent auditor's report on the financial statements. 13 Total Internal Solid Waste Water and Enterprise Service Assets and deferred outflows of resources:Disposal Sewer Sanitation Golf Course Funds Funds Current assets: Cash and investments 5,580,448$ 21,603,888$ 1,050,369$180,686$ 28,415,391$ 1,956,763$ Receivables (net of allowance for uncollectibles) Accounts 172,151 1,179,968 163,313 - 1,515,432 - Interest 16 - - - 16 - Inventory and prepaid supplies - 462,329 - 26,249 488,578 194,089 Total current assets 5,752,615 23,246,185 1,213,682 206,935 30,419,417 2,150,852 Capital assets: Nondepreciable capital assets: Construction in progress - 13,579,083 - - 13,579,083 - Land 682,000 844,806 5,000 15,000 1,546,806 - Depreciable capital assets: Capital assets 11,268,787 116,965,237 2,067,804 1,056,057 131,357,885 223,242 Less: accumulated depreciation 7,249,313 46,495,243 1,362,220 780,717 55,887,493 181,362 Total capital assets 4,701,474 84,893,883 710,584 290,340 90,596,281 41,880 Total assets 10,454,089 108,140,068 1,924,266 497,275 121,015,698 2,192,732 Deferred outflows of resources: Pension - contributions subsequent to the measurement date 22,635 121,800 31,322 9,607 185,364 9,278 Pension - changes in proportion 17 89 23 7 136 7 Deferred charge on bond issuance - 274,528 - - 274,528 - Total deferred outflows of resources 22,652 396,417 31,345 9,614 460,028 9,285 Total assets and deferred outflows of resources 10,476,741$108,536,485$ 1,955,611$506,889$ 121,475,726$ 2,202,017$ Liabilities and deferred inflows of resources: Current liabilities Accounts payable 62,073$ 928,222$ 10,767$ 18,033$ 1,019,095$ 58,339$ Retainage payable - 387,051 - - 387,051 - Interest payable 14,286 265,835 - - 280,121 - Meter deposits payable - 178,910 - - 178,910 - Current portion of compensated absences payable 41,152 191,306 56,215 32,766 321,439 18,832 Current portion of accrued claims payable - - - - - 456,533 Current portion of loans payable - 387,077 - - 387,077 - Current portion of general obligation bonds payable 355,000 718,573 - - 1,073,573 - Current portion of revenue bonds payable - 663,696 - - 663,696 - Total current liabilities 472,511 3,720,670 66,982 50,799 4,310,962 533,704 Noncurrent liabilities: Compensated absences payable 39,066 181,614 53,368 31,105 305,153 17,877 Accrued claims payable - - - - - 100,508 Net OPEB Obligation 85,620 288,894 - 42,170 416,684 - Net pension liability 344,952 1,856,123 477,318 146,404 2,824,797 141,390 Payable from restricted assets Loans payable - 5,366,543 - - 5,366,543 - General obligation bonds payable 1,520,000 5,946,199 - - 7,466,199 - Revenue bonds payable - 13,285,443 - - 13,285,443 - Landfill post-closure care liabilities 1,902,252 - - - 1,902,252 - Total noncurrent liabilities 3,891,890 26,924,816 530,686 219,679 31,567,071 259,775 Total liabilities 4,364,401 30,645,486 597,668 270,478 35,878,033 793,479 Deferred inflows of resources Pension - difference between expected and actual experience 9,764 52,544 13,512 4,145 79,965 4,003 Pension - net difference between projected and actual earnings on pension plan investments 13,428 72,252 18,580 5,699 109,959 5,504 Pension - changes of assumptions 4,821 25,941 6,671 2,046 39,479 1,976 Pension - change in proportion 16,979 91,359 23,494 7,206 139,038 6,959 Total deferred inflows of resources 44,992 242,096 62,257 19,096 368,441 18,442 Total liabilities and deferred inflows of resources 4,409,393$ 30,887,582$ 659,925$ 289,574$ 36,246,474$ 811,921$ Net position Net investment in capital assets 2,826,474$ 64,279,972$ 710,584$ 290,340$ 68,107,370$ 41,880$ Restricted Restricted for bond retirement - 1,512,125 - - 1,512,125 - Unrestricted 3,240,874 11,856,806 585,102 [73,025] 15,609,757 1,348,216 Total net position 6,067,348$ 77,648,903$ 1,295,686$217,315$ 85,229,252$ 1,390,096$ Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF NET POSITION PROPRIETARY FUNDS December 31, 2015 The notes to the basic financial statements are an integral part of this statement. 14 Total Internal Solid W aste Water and Enterprise Service Disposal Sewer Sanitation Golf Course Funds Funds Operating revenues Charges for services 2,518,532$19,058,855$2,528,829$819,945$ 24,926,161$7,927,385$ Reimbursements - 100 - - 100 - Miscellaneous 45,820 40,201 - 46,381 132,402 18,103 Total operating revenues 2,564,352 19,099,156 2,528,829 866,326 25,058,663 7,945,488 Operating expenses General government - - - - - 7,444,125 Public works 1,542,920 8,939,974 1,800,108 - 12,283,002 - Recreation - - - 791,454 791,454 - Depreciation 147,010 1,877,979 150,143 29,085 2,204,217 9,259 Total operating expenses 1,689,930 10,817,953 1,950,251 820,539 15,278,673 7,453,384 Operating income [loss]874,422 8,281,203 578,578 45,787 9,779,990 492,104 Nonoperating revenues [expenses] Investment revenue 12,854 40,456 2,482 239 56,031 3,675 Interest expense [76,636] [888,509] - - [965,145] - Gain/[loss] on disposal of fixed assets 86 1,551 41,000 - 42,637 830 Accretion of bond premium - 11,560 - - 11,560 - Amortization of bond issuance costs - [18,472] - - [18,472] - Total nonoperating revenues [expenses][63,696] [853,414] 43,482 239 [873,389] 4,505 Income [loss] before transfers 810,726 7,427,789 622,060 46,026 8,906,601 496,609 Transfers from [to] other funds Transfers in - - - - - 100,000 Transfers [out][626,000] [2,707,335] [448,350] - [3,781,685] [10,000] Total transfers [626,000] [2,707,335] [448,350] - [3,781,685] 90,000 Change in net position 184,726 4,720,454 173,710 46,026 5,124,916 586,609 Net position, January 1 5,793,843 75,000,010 1,649,695 334,686 82,778,234 1,030,288 Restatement 88,779 [2,071,561] [527,719] [163,397] [2,673,898] [226,801] Net position, January 1, restated 5,882,622 72,928,449 1,121,976 171,289 80,104,336 803,487 Net position, December 31 6,067,348$77,648,903$1,295,686$217,315$ 85,229,252$1,390,096$ Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION PROPRIETARY FUNDS For the Year Ended December 31, 2015 The notes to the basic financial statements are an integral part of this statement. 15 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 2,596,537$19,002,846$2,519,816$819,945$ 24,939,144$7,612,850$ Cash paid to suppliers of goods or services [1,325,067][5,513,851] [1,012,038][464,504] [8,315,460] [7,179,570] Cash paid to employees [612,709] [3,238,860] [828,132] [347,246] [5,026,947] [261,984] Other operating receipts 45,820 40,201 - 46,381 132,402 18,103 Net cash provided by [used in] operating activities 704,581 10,290,336 679,646 54,576 11,729,139 189,399 Cash flows from capital and related financing activities Purchase and construction of capital assets [145,288] [6,121,603] [153,369] - [6,420,260] [36,685] Proceeds from sale of capital assets 86 1,551 41,000 - 42,637 830 Principal payments - loans - [454,482] - - [454,482] - Principal payments - general obligation bonds [330,000] [709,715] - - [1,039,715] - Principal payments - revenue bonds - [640,000] - - [640,000] - Interest paid [76,795] [895,153] - - [971,948] - Net cash provided by [used in] capital and related financing activities [551,997] [8,819,402] [112,369] - [9,483,768] [35,855] Cash flows from investing activities Interest received 12,854 40,456 2,482 239 56,031 3,674 Cash flows from noncapital financing activities Transfers in - - - - - 100,000 Transfers [out][626,000] [2,707,335] [448,350] - [3,781,685] [10,000] Net cash provided by [used in] noncapital financing activities [626,000] [2,707,335] [448,350] - [3,781,685] 90,000 Net increase [decrease] in cash and cash equivalents [460,562] [1,195,945] 121,409 54,815 [1,480,283] 247,218 Cash and cash equivalents, January 1 6,041,010 22,799,833 928,960 125,871 29,895,674 1,898,749 Restatement - - - - - [189,204] Cash and cash equivalents, January 1, restated 6,041,010 22,799,833 928,960 125,871 29,895,674 1,709,545 Cash and cash equivalents, December 31 5,580,448$21,603,888$1,050,369$180,686$ 28,415,391$1,956,763$ Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF CASH FLOWS For the Year Ended December 31, 2015 PROPRIETARY FUNDS The notes to the basic financial statements are an integral part of this statement. 16 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]874,422$ 8,281,203$ 578,578$45,787$ 9,779,990$ 492,104$ Adjustments to reconcile operating income [loss] to net cash provided by [used in] operating activities Depreciation expense 147,010 1,877,979 150,143 29,085 2,204,217 9,259 [Increase] decrease in accounts receivable 78,005 [63,903] [9,013] - 5,089 - [Increase] decrease in inventory - 20,631 - [6,116] 14,515 [5,729] [Increase] decrease in deferred outflows [77] [421] [108] [33] [639] [32] Increase [decrease] in accounts payable [503,374] 215,863 [15,654] 12,474 [290,691] 12,723 Increase [decrease] in retainage payable [15,000] 7,454 - - [7,546] - Increase [decrease] in accrued compensated absences 5,640 17,121 80 [22,271] 570 2,832 Increase [decrease] in claims payable - - - - - [314,536] Increase [decrease] in landfill postclosure liabilities 129,225 - - - 129,225 - Increase [decrease] in net pension liability 4,570 24,588 6,324 1,939 37,421 1,873 Increase [decrease] in net OBEB obligation 6,350 21,426 - 3,128 30,904 - Increase [decrease] in meter deposits payable - 7,794 - - 7,794 - Increase [decrease] in deferred inflows [22,190] [119,399] [30,704] [9,417] [181,710] [9,095] Net cash provided by [used in] operating activities 704,581$ 10,290,336$679,646$54,576$ 11,729,139$189,399$ Business-Type Activities: Enterprise Funds CITY OF SALINA, KANSAS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS (Continued) For the Year Ended December 31, 2015 The notes to the basic financial statements are an integral part of this statement. 17 ASSETS Cash and investments 127,441$ Total assets 127,441$ LIABILITIES AND FUND BALANCES Liabilities Accounts payable 127,441$ Total liabilities 127,441$ December 31, 2015 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. 18 19 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 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 as part of 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, 2015. 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 one joint venture. 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 venture. Separate financial statements are available from the governing board of the joint venture. (Kansas Regulatory Basis) Building Authority (Audited) Total unencumbered cash, December 31, 2015 907,742$ Total change in unencumbered cash, year ended December 31, 2015 313,228 Total cash receipts, year ended December 31, 2015 1,229,442 Total cash receipts from City of Salina 464,637 20 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) A. Reporting Entity (Continued) Joint Ventures (Continued) Complete financial statements for the joint venture may be obtained at the entity’s administrative office. Salina County-City Building Authority 300 West Ash Street Salina, KS B. Government-wide and fund financial statements The statement of net position 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. 21 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 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. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net position. 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. 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. Sales tax capital fund - To account for 93% of the .40 cent sales tax designated for capital, debt, and human services purposes. Schilling capital improvement fund - To account for the funding provided by U.S. Government and Public Entities and the remedial investigation, feasibility study and expenditures necessary to abate groundwater contamination beneath the property formerly identified as Schilling Air Force Base. 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. Capital projects fund - To account for the acquisition and construction of major capital facilities other than those financed by proprietary funds and trust funds. 22 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) C. Measurement Focus, Basis of Accounting and Basis of Presentation (Continued) 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, Fund Balance, and Net Position 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 2016. 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. 23 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 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 24 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Assets, Liabilities, Fund Balance, and Net Position (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. Employees must use 50% of leave accrued each calendar year and an employee's maximum accrued vacation leave balance cannot exceed 250 hours (or 350 hours for employees working 24 hour shifts). 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, 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 position. 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. 25 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Assets, Liabilities, Fund Balance, and Net Position (Continued) 8. Fund Balances In the fund financial statements, governmental funds report fund balance in the following classifications: nonspendable, restricted, committed, assigned and unassigned. Nonspendable fund balance includes amounts that cannot be spent because they are either not in spendable form or legally or contractually required to be maintained intact. Restricted fund balance indicates that constraints have been placed on the use of resources either by being externally imposed by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through constitutional provisions or enabling legislation. Committed fund balances include amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the city commission. Assigned fund balances include amounts that are constrained by the City management’s intent to be used for specific purposes, but are neither restricted nor committed. Unassigned fund balance represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the General Fund. When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available restricted amounts are considered to be spent first. When an expenditure is incurred for purposes for which committed, assigned, or unassigned fund balance is available, the following is the order in which resources will be expended: committed, assigned and unassigned. The following is the detail for fund balance classifications in the financial statements: Tourism Schilling Other Total and Special Sales Tax Capital Debt Capital Governmental Governmental General Convention Gas Capital Improvement Service Projects Funds Funds Fund Balances: Nonspendable for: Inventory 111,614$ -$ -$ -$ -$ -$ -$ -$ 111,614$ Restricted for: Public works - - 532,678 - - - - - 532,678 Public health and sanitation - - - - - - - 134 134 Culture and recreation - - - - - - - 83,300 83,300 Planning and development - 164,289 - - - - - 180,939 345,228 Debt payments - - - - - 745,339 - 1,085,887 1,831,226 Committed for: Public safety - - - - - - - [34,706] [34,706] Culture and recreation - - - - - - - 591,926 591,926 Planning and development - - - - - - - 6,196 6,196 Cemetery - - - - - - - 473,236 473,236 Capital improvements - - - 1,495,985 5,304,667 - - 858,136 7,658,788 Assigned for: General government 42,643 - - - - - - - 42,643 Public safety 64,867 - - - - - - 9,283 74,150 Public works 44,532 - - - - - - - 44,532 Culture and recreation 7,970 - - - - - - 22,577 30,547 Capital improvements 38,705 - 105,469 124,332 230,784 - - 126,415 625,705 Unassigned: 4,529,855 - - - - - [10,537,480] - (6,007,625) Total Fund Balances 4,840,186$ 164,289$ 638,147$ 1,620,317$ 5,535,451$ 745,339$ [10,537,480]$ 3,403,323$ 6,409,572$ 26 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Assets, Liabilities, Fund Balance, and Net Position (Continued) 9. Deferred Outflows/Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The City reports a deferred charge on bond issuance reported in the government-wide statement of net position. A deferred charge on bond issuance results from the difference in the carrying value of the debt and its reacquisition price. This amount is deferred and amortized over the life of the debt. Additionally, the City reports changes in the pension liability proportion and contributions made to the pension plan after the measurement date of the net pension liability as deferred outflows of resources in the government activities. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. Unavailable revenue – property taxes, is reported in the governmental funds balance sheet and the governmental activities in the government-wide statement of net position. Additionally, the City reports differences between expected and actual experience, differences between projected and actual investment earnings, changes in assumptions, and changes in the pension liability proportion as deferred inflows for governmental activities. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. 10. 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. 11. Net Position Net position represents the difference between assets and liabilities. Net investment in capital assets 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 position is 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. 27 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY (Continued) A. Budgetary Information (Continued) 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 2015 budget was amended for the Tourism and Convention Fund, the Bicentennial Center Fund, the Special Parks and Recreation Fund and the Special Alcohol Fund. 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: Community Development Revolving, HOME 2012, 911 Communications, Fair Housing, Kenwood Cove Capital, Special Law Enforcement, Police Grants, Federal Grants, DARE Donations, War Memorial Maintenance, Federal CARE Grant, Police Department Federal Forfeiture, Homeowners’ Assistance and Animal Shelter Donations Funds. A legal operating budget is not required for the following Enterprise funds: Solid Waste Disposal, Water and Sewer, Sanitation and Golf Course 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, 2015 in the Tourism and Convention Fund, and Special Alcohol 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, 2015, the statutory limit for the City was $137,096,966, providing a debt margin of $83,895,593. 28 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 3. RESTATEMENT OF EQUITY On January 1, 2015, the City changed its method of accounting to adopt Government Accounting Standards Board Statement No. 68, Accounting and Financial Reporting for Pensions and the City decided to consolidate several funds. Additionally, following the close of the previous fiscal year, it was discovered that a capital lease had not been properly recorded, that several capital assets were misclassified or recorded incorrectly and that the deferred charge on bond issuance had been recorded incorrectly. Accordingly, the beginning net position/fund balances were restated, the effects of which are as follows: Bicentennial HUD Community Bicentennial Center Community Development Heritage Fair Governmental General Center Event Development Revolving Commission Housing Activities Fund Fund Fund Fund Fund Fund Fund Net Position/Fund Balance, December 31, 2014 127,878,328$ 4,254,432$ -$ 500$ 74,578$ 109,254$ 4$ 46,590$ Capital Asset Adjustment [5,000] - - - - - - - Deferred Charge on Bond Issuance Adjustment 36,791 - - - - - - - Capital Lease Adjustment [456,370] - - - - - - - Pension Liability [25,148,978] - - - - - - - Fund Consolidation 69,000 172,325 500 [500] [74,578] 74,578 [4] [46,590] Net Position/Fund Balance, December 31, 2014, Restated 102,373,771$ 4,426,757$ 500$ -$ -$ 183,832$ -$ -$ Solid Waste Water and Risk Central Information Disposal Sewer Sanitation Golf Course Management Garage Services Fund Fund Fund Fund Fund Fund Fund Net Position, December 31, 2014 5,793,843$ 75,000,010$ 1,649,695$ 334,686$ 25,593$ 185,379$ 43,407$ Capital Asset Adjustment 473,769 - 5,000 - - - - Pension Liability [384,990] [2,071,561] [532,719] [163,397] - [157,801] - Fund Consolidation - - - - [25,593] - [43,407] Net Position, December 31, 2014, Restated 5,882,622$ 72,928,449$ 1,121,976$ 171,289$ -$ 27,578$ -$ 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. 29 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) A. Deposits and Investments (Continued) At December 31, 2015, the City has the following investments: Investment Type Fair Value Rating Kansas Municipal Investment Pool 305,350$ S&P AAAf/S1+ U.S. Government Securities 4,000,000 N/A Total fair value 4,305,350$ 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. 30 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 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 Debt Capital Other General Convention Gas Service Projects Governmental Subtotal Primary Government Receivables: Accounts 4,955,200$ 366,306$ -$ -$ 454,369$ 6,700$ 5,782,575$ Taxes 8,403,904 - 314,751 3,090,683 - - 11,809,338 Interest 10,735 - - - - - 10,735 Gross receivables 13,369,839 366,306 314,751 3,090,683 6,700 17,602,648 Less: allowance for uncollectibles [3,939,333] - - - - [3,089] [3,942,422] Total 9,430,506$ 366,306$ 314,751$ 3,090,683$ -$ 3,611$ 13,660,226$ Solid Water Waste and Disposal Sewer Sanitation Total Primary Government Receivables: Accounts 172,151$ 2,125,813$ 294,223$ 8,374,762$ Taxes - - - 11,809,338 Interest 16 - - 10,751 Gross receivables 172,167 2,125,813 294,223 20,194,851 Less: allowance for uncollectibles - [945,845] [130,910] [5,019,177] Total 172,167$ 1,179,968$ 163,313$ 15,175,674$ Component Units Salina Airport Authority Accounts 129,034$ Less: allowance for uncollectibles [1,500] Total Salina Airport Authority 127,534 Salina Housing Authority Accounts 30,548 Less: allowance for uncollectibles [1,100] Interest 365 Total Salina Housing Authority 29,813 Total 157,347$ C. Interfund Receivables and Payables The composition of interfund balances as of December 31, 2015, is as follows: Fund Types Due From Due To General Fund 20,861$ -$ Other Government Funds - 20,861 20,861$ 20,861$ 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. 31 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) D. Capital Assets Capital asset activity for the year ended December 31, 2015, was as follows: Balance Adj. Bal. Balance 12/31/2014 Adjustments 12/31/2014 Additions Retirements 12/31/2015 City governmental activities: Governmental activities: Capital assets, not being depreciated Construction in progress 9,994,512$ -$ 9,994,512$ 19,503,590$ 10,478,479$ 19,019,623$ Land 22,639,800 [5,000] 22,634,800 628,230 - 23,263,030 Capital assets, being depreciated Infrastructure 179,876,532 - 179,876,532 7,817,689 - 187,694,221 Buildings and improvements 39,351,042 - 39,351,042 2,588,105 - 41,939,147 Vehicles 9,031,615 - 9,031,615 909,379 401,974 9,539,020 Equipment, furniture and fixtures 5,698,144 [76,809] 5,621,335 240,847 33,351 5,828,831 Total capital assets 266,591,645 [81,809] 266,509,836 31,687,840 10,913,804 287,283,872 Less accumulated depreciation for: Infrastructure 73,828,690 - 73,828,690 3,543,536 - 77,372,226 Buildings and improvements 16,842,231 - 16,842,231 987,693 - 17,829,924 Vehicles 5,723,011 - 5,723,011 752,118 322,304 6,152,825 Equipment, furniture and fixtures 4,574,898 [76,809] 4,498,089 222,826 33,351 4,687,564 Total accumulated depreciation 100,968,830 [76,809] 100,892,021 5,506,173 355,655 106,042,539 Governmental activities capital assets, net 165,622,815$ [5,000]$ 165,617,815$ 26,181,667$ 10,558,149$ 181,241,333$ Business-type activities: Capital assets, not being depreciated Construction in progress 27,865,017$ 473,769$ 28,338,786$ 6,102,103$ 20,861,806$ 13,579,083$ Land 1,541,806 5,000 1,546,806 - - 1,546,806 Capital assets, being depreciated Infrastructure 79,261,098 - 79,261,098 20,729,261 - 99,990,359 Buildings and improvements 22,579,933 - 22,579,933 - - 22,579,933 Vehicles 3,432,604 [13,469] 3,419,135 172,867 127,036 3,464,966 Equipment, furniture and fixtures 5,062,328 - 5,062,328 277,832 17,533 5,322,627 Total capital assets 139,742,786 465,300 140,208,086 27,282,063 21,006,375 146,483,774 Less accumulated depreciation for: Infrastructure 35,759,711 - 35,759,711 1,377,230 - 37,136,941 Buildings and improvements 11,951,354 - 11,951,354 422,642 - 12,373,996 Vehicles 2,652,477 [13,469] 2,639,008 186,822 127,036 2,698,794 Equipment, furniture and fixtures 3,477,772 - 3,477,772 217,523 17,533 3,677,762 Total accumulated depreciation 53,841,314 [13,469] 53,827,845 2,204,217 144,569 55,887,493 Business-type activities capital assets, net 85,901,472$ 478,769$ 86,380,241$ 25,077,846$ 20,861,806$ 90,596,281$ 32 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 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 11,499$ Public safety 717,330 Public works 3,865,994 Public health 25,620 Culture and recreation 880,536 Planning and development 5,194 Total depreciation 5,506,173$ Business-type Activities: Solid Waste Disposal 147,010$ Water and Sewer 1,877,979 Sanitation 150,143 Golf Course Division 29,085 Total depreciation 2,204,217$ E. Long-Term Debt Following is a summary of changes in long-term debt for fiscal year 2015: Restated Balance Balance Amounts January 1, December 31, Due Within 2015 Additions Deletions 2015 One Year Governmental activities: General obligation bonds 50,033,555$ 7,157,688$ 6,350,611$ 50,840,632$ 5,216,252$ Financing lease 632,605 - 153,239 479,366 158,192 Accrued compensation 2,896,150 1,483,287 1,501,147 2,878,290 1,482,001 Temporary notes 5,000,000 5,995,000 5,000,000 5,995,000 5,995,000 Total 58,562,310$ 14,635,975$ 13,004,997$ 60,193,288$ 12,851,445$ Business-type activities: General obligation bonds 9,587,351$ -$ 1,047,579$ 8,539,772$ 1,073,573$ Revenue bonds 14,592,836 - 643,697 13,949,139 663,696 Loans payable 6,208,102 - 454,482 5,753,620 387,077 Accrued compensation 626,022 327,364 326,794 626,592 321,439 Total 31,014,311$ 327,364$ 2,472,552$ 28,869,123$ 2,445,785$ Component Units: General obligation bonds 23,260,000$ 705,000$ 955,000$ 23,010,000$ 1,035,000$ Less unamortized discount [285,445] - [66,775] [218,670] - Financing lease 107,966 - 52,270 55,696 55,696 Special assessment debt 48,949 - 18,484 30,465 19,197 Total component units 23,131,470$ 705,000$ 958,979$ 22,877,491$ 1,109,893$ 33 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 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 2006B, due 10/1/2021 885,000$ 4.00% to 4.50% 255,000$ Internal Improvements 2007A, due 10/1/2027 6,545,000 4.25% to 4.625% 3,645,000 Internal Improvements 2008A, due 10/1/2023 3,720,000 3.25% to 4.00% 2,000,000 Internal Improvements 2008B, due 7/1/2028 3,525,000 3.65% to 5.00% 2,870,000 Internal Improvements 2009A, due 10/1/2029 23,695,000 2.00% to 5.00% 14,443,552 Internal Improvements 2010A, due 10/1/2025 6,916,592 2.00% to 3.875% 3,402,727 Internal Improvements 2010B, due 10/1/2023 7,973,044 0.50% to 3.00% 3,804,565 Internal Improvements 2011A, due 10/1/2031 6,587,985 2.00% to 5.00% 5,403,389 Internal Improvements 2012A, due 10/1/2027 2,383,903 1.00% to 2.45% 1,965,123 Refunding 2012B, due 10/1/2020 3,817,108 1.00% to 1.40% 1,855,066 Internal Improvements 2013A, due 10/1/28 1,369,380 3.00% to 4.00% 1,248,130 Internal Improvements 2013B, due 10/1/33 4,485,073 0.60% to 3.65% 4,029,565 Internal Improvements 2014A, due 10/1/34 7,839,050 2.50% to 3.75% 7,300,599 Improvement and Refunding 2015A, due 10/1/35 7,157,688 2.00% to 4.00% 7,157,688 Total general obligation bonds 59,380,404$ Revenue Bonds Revenue 2011, due 10/1/31 16,193,925$ 2.00% to 4.60% 13,949,139$ Total revenue bonds 13,949,139$ Temporary Notes Series 2015-1, due 8/1/2016 5,000,000$ 1.25% 5,995,000$ Total temporary notes 5,995,000$ Loans Payable Kansas Public Water Supply, due 8/1/2034 9,330,000$ 2.12% 5,753,620$ Total loans payable 5,753,620$ Financing Lease, due 2/10/2017 Equipment, due 2/10/17 30,000$ 3.54% 20,346$ Equipment, due 5/8/18 146,235 3.28% 111,426 Software, due 10/10/18 456,370 3.19% 347,594 479,366$ 34 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 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 2009A, due 2029 2,025,000 4.31% 2,025,000$ General Obligation 2009B, due 2026 6,080,000 3.00% to 5.50% 4,365,000 General Obligation 2011A, due 2030 11,820,000 4.64% 11,040,000 General Obligation 2011B, due 2031 2,505,000 4.28% 2,505,000 General Obligation 2015A, due 2025 3,075,000 2.14% 3,075,000 Less unamortized bond premium 47,883 Less unamortized bond discount [266,553] Total general obligation bonds 22,791,330 Special Assessment Debt Airport Industrial Center, due 2016 565,235 3.79% 17,225 Hangar 600 Sanitary Sewer, due 2021 27,599 4.47%13,240 Total special assessment debt 30,465 Financing Lease, due 2016 425,000 6.609%55,696 Total 22,877,491$ Annual debt service requirements to maturity for general obligation bonds to be paid with tax levies: Bonds Interest Year Outstanding Due Total 2016 6,289,825$ 2,011,716$ 8,301,541$ 2017 6,124,824 1,788,691 7,913,515 2018 6,229,824 1,579,823 7,809,647 2019 6,144,824 1,355,936 7,500,760 2020 3,994,823 1,169,155 5,163,978 2021-2025 17,601,659 17,601,659 35,203,318 2026-2030 9,768,212 1,411,882 11,180,094 2031-2035 3,226,413 287,933 3,514,346 Total 59,380,404$ 27,206,795$ 86,587,199$ General Obligation - Primary Government 35 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) Bonds Interest Year Outstanding Due Total 2016 1,035,000$ 954,582$ 1,989,582$ 2017 1,065,000 928,373 1,993,373 2018 1,090,000 898,938 1,988,938 2019 1,215,000 866,425 2,081,425 2020 1,255,000 827,990 2,082,990 2021-2025 6,570,000 3,346,207 9,916,207 2026-2030 8,865,000 1,609,729 10,474,729 2031 1,915,000 78,994 1,993,994 Total 23,010,000$ 9,511,238$ 32,521,238$ 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 2016 663,696$ 549,191$ 1,212,887$ 2017 678,696 529,391 1,208,087 2018 708,696 509,141 1,217,837 2019 728,696 487,991 1,216,687 2020 748,696 466,242 1,214,938 2021-2025 4,163,480 1,901,889 6,065,369 2026-2030 5,098,480 968,219 6,066,699 2031 1,158,699 53,130 1,211,829 Total 13,949,139$ 5,465,194$ 19,414,333$ 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 2016 5,995,000$ 74,354$ 6,069,354$ Temporary Notes - Primary Government 36 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) Annual debt service requirements to maturity for financing leases - to be paid from revenues: Lease Interest Year Outstanding Due Total 2016 158,192$ 15,463$ 173,655$ 2017 163,306 10,350 173,656 2018 157,868 5,071 162,939 Total 479,366$ 30,884$ 510,250$ Capital Lease - Primary Government Lease Interest Year Outstanding Due Total 2016 55,696$ 2,776$ 58,472 Total 55,696$ 2,776$ 58,472$ Financing Lease - Component Units The City has engaged in a loan with the Kansas Public Water Supply Fund. The following displays annual debt service requirements to maturity for the loan payable to be paid from service revenues, for the full proceeds amount: Loans Interest Year Outstanding Due Total 2016 387,077$ 187,720$ 620,187$ 2017 395,326 179,471 621,622 2018 403,752 171,045 623,119 2019 412,357 162,440 624,682 2020 421,145 153,652 626,245 2021-2025 2,244,248 629,737 3,149,263 2026-2030 2,493,811 380,174 3,149,263 2031-2034 2,193,284 105,916 1,415,883 Total 8,951,000$ 1,970,155$ 10,830,264$ Loans - Primary Government . 37 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) E. Long-Term Debt (Continued) Annual debt service requirement to maturity for Special Assessment Debt to be paid from rental revenue: Assessment Interest Year Outstanding Due Total 2016 19,198$ 1,245$ 20,443$ 2017 2,061 504 2,565 2018 2,153 412 2,565 2019 2,249 315 2,564 2020 2,350 215 2,565 2021 2,454 110 2,564 Total 30,465$ 2,801$ 33,266$ Special Assessment Debt - Component Units 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, 2015, total outstanding conduit debt was $51,265,000. Defeased debt. On July 29, 2015, the City issued $6,825,000 in general obligation refunding and internal improvement bonds with interest ranging from 2.00 to 4.00% to current refund all $1,320,000 of the outstanding Series 2006A general obligation improvement bonds with interest rates ranging from 3.80 to 4.35% and to refund all $5,000,000 of the outstanding Series 2014-1 temporary notes with an interest rate of 1.00%. The remaining proceeds will be used for capital improvements. The transaction resulted in an economic gain of $126,075 and a reduction of $146,642 in future debt payments. 38 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 4. DETAILED NOTES ON ALL FUNDS (Continued) F. Operating Leases On December 20, 2012, the City and Saline County jointly entered into a non-cancelable lease to finance a $2,750,000 heating, ventilation and air conditioning (HVAC) upgrade at the Saline County-City Building Authority. The City’s share of the lease agreement is 40% and will pay the lessor $1,100,000, plus interest, through monthly payments of $7,827 over a term of 180 months. The total cost for this lease was $93,926 for the year ended December 31, 2015. The future minimum lease payments for the lease are as follows: Year Amount 2016 93,926$ 2017 93,926 2018 93,926 2019 93,926 2020 93,926 2021-2025 469,633 2026-2027 187,854 Total 1,127,117$ G. Reconciliation of Transfers A reconciliation of interfund transfers follows: Transfer In Transfer Out Major Funds: General fund 3,644,350$ 682,000$ Tourism and convention fund - 882,839 Special gas fund 170,000 174,913 Sales tax capital fund - 1,816,750 Debt service 2,052,618 - Capital projects fund 412,248 326,711 Other governmental funds 1,363,306 30,000 Agency funds - 37,624 Solid waste disposal fund - 626,000 Water and sewer fund - 2,707,335 Sanitation fund - 448,350 Central garage fund 100,000 10,000 Total Transfers 7,742,522$ 7,742,522$ The City uses interfund transfers to share administrative costs between funds. 39 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION A. Defined Benefit Pension Plan Description of Pension Plan. The City participates in a cost-sharing multiple-employer pension plan (Pension Plan), as defined in Governmental Accounting Standards Board Statement No. 67, Financial Reporting for Pension Plans. The Pension Plan is administered by the Kansas Public Employees Retirement System (KPERS), a body corporate and an instrumentality of the State of Kansas. KPERS provides benefit provisions to the following statewide pension groups under one plan, as provided by K.S.A. 74, article 49:  Public employees, which includes:  State/School employees  Local employees  Police and Firemen  Judges Substantially all public employees in Kansas are covered by the Pension Plan. Participation by local political subdivisions is optional, but irrevocable once elected. Those employees participating in the Pension Plan for the City are included in the Local employees group and the Kansas Police and Firemen group. KPERS issues a stand-alone comprehensive annual financial report, which is available on the KPERS website at www.kpers.org. Benefits. Benefits are established by statute and may only be changed by the State Legislature. Members (except Police and Firemen) with ten or more years of credited service, may retire as early as age 55 (Police and Firemen may be age 50 with 20 years of credited service), with an actuarially reduced monthly benefit. Normal retirement is at age 65, age 62 with ten years of credited service, or whenever a member’s combined age and years of service equal 85. Police and Firemen normal retirement ages are age 60 with 15 years of credited service, age 55 with 20 years, age 50 with 25 years, or any age with 36 years of service. Monthly retirement benefits are based on a statutory formula that includes final average salary and years of service. When ending employment, members may withdraw their contributions from their individual accounts, including interest. Members who withdraw their accumulated contributions lose all rights and privileges of membership. For all pension coverage groups, the accumulated contributions and interest are deposited into and disbursed from the membership accumulated reserve fund as established by K.S.A. 74- 4922. Members choose one of seven payment options for their monthly retirement benefits. At retirement a member may receive a lump-sum payment of up to 50% of the actuarial present value of the member’s lifetime benefit. His or her monthly retirement benefit is then permanently reduced based on the amount of the lump sum. Benefit increases, including ad hoc post-retirement benefit increases, must be passed into law by the Kansas Legislature. Benefit increases are under the authority of the Legislature and the Governor of the State of Kansas. The 2012 Legislature made changes affecting new hires, current members and employers. A new KPERS 3 cash balance retirement plan for new hires starting January 1, 2015, was created. Normal retirement age for KPERS 3 is 65 with five years of service or 60 with 30 years of service. Early retirement is available at age 55 with ten years of service, with a reduced benefit. Monthly benefit options are an annuity benefit based on the account balance at retirement. 40 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) A. Defined Benefit Pension Plan (Continued) For all pension coverage groups, the retirement benefits are disbursed from the retirement benefit payment reserve fund as established by K.S.A. 74-4922. Contributions. Member contributions are established by state law, and are paid by the employee according to the provisions of Section 414(h) of the Internal Revenue Code. State law provides that the employer contribution rates are determined based on the results of an annual actuarial valuation. The contributions and assets of all groups are deposited in the Kansas Public Employees Retirement Fund established by K.S.A. 74-4921. All of the retirement systems are funded on an actuarial reserve basis. For fiscal years beginning in 1995, Kansas legislation established statutory limits on increases in contribution rates for KPERS employers. Annual increases in the employer contribution rates related to subsequent benefit enhancements are not subject to these limitations. The statutory cap increase over the prior year contribution rate is 1.0% of total payroll for the fiscal year ended June 30, 2015. The actuarially determined employer contribution rates (not including the 0.85% contribution rate for the Death and Disability Program) and the statutory contribution rates are as follows: Actuarial Statutory Employer Employer Rate Capped Rate Local employees 9.48% 9.48% Police and Firemen 21.36% 21.36% Member contribution rates as a percentage of eligible compensation for the fiscal year 2015 are 5.00% or 6.00% for Local employees and 7.15% for Police and Firemen. Employer Allocations. Although KPERS administers one cost-sharing multiple-employer defined benefit pension plan, separate (sub) actuarial valuations are prepared to determine the actuarial determined contribution rate by group. Following this method, the measurement of the collective net pension liability, deferred outflows of resources, deferred inflows of resources, and pension expense are determined separately for each of the following groups of the plan:  State/School  Local  Police and Firemen  Judges To facilitate the separate (sub) actuarial valuations, KPERS maintains separate accounts to identify additions, deductions, and fiduciary net position applicable to each group. The allocation percentages presented for each group in the schedule of employer and nonemployer allocations are applied to amounts presented in the schedules of pension amounts by employer and nonemployer. The allocation percentages for the City’s share of the collective pension amounts as of December 31, 2015, are based on the ratio of its contributions to the total of the employer and nonemployer contributions of the group for the fiscal years ended December 31, 2015. The contributions used exclude contributions made for prior service, excess benefits and irregular payments. At June 30, 2015, the City’s proportion for the Local employees group was 0.764%, which was a decrease of .040% from its proportion measured at June 30, 2014. At June 30, 2015, the City’s proportion for the Police and Firemen group was 2.258%, which was an decrease of .037% from its proportion measured at June 30, 2014. 41 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) A. Defined Benefit Pension Plan (Continued) Net Pension Liability. At December 31, 2015 and 2014, the City reported a liability of $26,423,473 and $24,948,243, respectively, for its total proportionate share of the net pension liability for the Local and Police and Firemen groups. Actuarial Assumptions. The total pension liability was determined by an actuarial valuation as of December 31, 2014, which was rolled forward to June 30, 2015, using the following actuarial assumptions: Assumptions Rate Price inflation 3.00% Wage inflation 4.00% Salary increases, including wage increases 4% to 16.00%, including inflation Long-term rate of return, net of investment expense, and including price inflation 8.00% Mortality rates were based on the RP-2000 Healthy Annuitant Mortality Table for Males and Females, with adjustments to better match actual experience. Separate tables apply for males and females as well as each group (State, School, Local, KP&F and Judges). The actuarial assumptions used in the December 31, 2014 valuation were based on the results of an actuarial experience study conducted for three years ending December 31, 2012. The long-term expected rate of return of pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage. Best estimates of arithmetic real rates of return for each major asset class included in the pension plan’s target asset allocation as of June 30, 2015 are summarized in the following table: Long-Term Expected Asset Long-Term Allocation Real Rate of Return Global Equity 47.00% 6.30% Fixed Income 13.00% 0.80% Yield driven 8.00% 4.20% Real Return 11.00% 1.70% Real estate 11.00% 5.40% Alternatives 8.00% 9.40% Short-term investments 2.00%-0.50% 100.00% Discount Rate. The discount rate used to measure the total pension liability was 8.00%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the contractually required rate. The State, School and Local employers do not necessarily contribute the full actuarial determined rate. Based on legislation passed in 1993, the employer contribution rates certified by the System’s Board of Trustees for these groups may not increase by more than the statutory cap. The expected KPERS employer statutory contribution was modeled for future years, assuming all actuarial assumptions are met in future years. Employers contribute the full actuarial determined rate for Police & Firemen, and Judges. Future employer contribution rates were also modeled for Police & Firemen and Judges, assuming all actuarial assumptions are met in future years. Based on those assumptions, the pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. 42 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) A. Defined Benefit Pension Plan (Continued) Sensitivity of the City’s proportionate share of the net pension liability to changes in the discount rate. The following presents the City’s proportionate share of the net pension liability calculated using the discount rate of 8.00%, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower (7.00%) or 1-percentage point higher (9.00%) than the current rate: 1% Decrease (7.00%)Discount Rate (8.00%)1% Increase (9.00%) Local 14,234,822$ 10,027,679$ 6,460,848$ Police & Firemen 23,809,559 16,395,794 10,133,696 Total 38,044,381$ 26,423,473$ 16,594,544$ Pension Expense. For the year ended December 31, 2015, the City recognized Local pension expense of $602,891 and Police and Firemen pension expense of $1,433,594, which includes the changes in the collective net pension liability, projected earnings on pension plan investments, and the amortization of deferred outflows of resources and deferred inflows of resources for the current period. Deferred Outflows of Resources and Deferred Inflows of Resources. At December 31, 2015, the City reported deferred outflows of resources and deferred inflows of resources related to pensions for Local and Police and Firemen groups from the following sources: Deferred outflows Deferred inflows Local of resources of resources Differences between actual and expected experience -$ 283,864$ Contributions subsequent to the measurement date 658,021 - Net differences between projected and actual earnings on investments - 390,342 Changes in assumptions - 140,147 Changes in proportion 481 493,566 Total 658,502$ 1,307,919$ Deferred outflows Deferred inflows Police & Firemen of resources of resources Differences between actual and expected experience 149,622$ 274,448$ Contributions subsequent to the measurement date 1,312,101 - Net differences between projected and actual earnings on investments - 520,682 Changes in assumptions - 163,954 Changes in proportion - 381,205 Total 1,461,723$ 1,340,289$ 43 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) A. Defined Benefit Pension Plan (Continued) $1,970,122 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2016. Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Local Police & Firemen Deferred Deferred Year ended [Inflows] Outflows [Inflows] Outflows December 31,Amount Amount Total 2016 [407,367]$ [472,478]$ [879,845]$ 2017 [407,367] [472,478] [879,845] 2018 [407,367] [472,478] [879,845] 2019 23,770 331,942 355,712 2020 [109,107] [105,175] [214,282] Total [1,307,438]$ [1,190,667]$ [2,498,105]$ 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. 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, $181,093 is considered to be due within one year. 44 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) D. Risk Management (Continued) Changes in the balances of claims liabilities during the past two years are as follows: 2015 2014 Unpaid claims, January 1 342,362$ 569,755$ Incurred claims (including IBNRs) 844,704 660,413 Claim payments [905,465] [887,806] Unpaid claims, December 31 281,601$ 342,362$ 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 $50,000. Incurred claims, including incurred but not reported claims, have been accrued based primarily upon subsequent payments. Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends including frequency and amounts of payouts and other economic and social factors. The liability for claims and judgments is reported in the Health Insurance Fund because it is expected to be liquidated with expendable available financial resources. Therefore, all of the liability is considered to be due within one year. Changes in the balances of claims liabilities during the past two years are as follows: 2015 2014 Unpaid claims, January 1 529,215$ 372,147$ Incurred claims (including IBNRs) 3,826,243 5,447,940 Claim payments [4,080,018] [5,290,872] Unpaid claims, December 31 275,440$ 529,215$ 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, 2015. Project Authorization Expenditures Markley, Magnolia, Valley View Sanitary Sewer Improvements 5,150,000$ 141,933$ Downtown Wellfield Improvements 9,330,000 4,799,023 Cloud & Ohio Street to Levee Pavement-Design 155,014 163,354 Ninth and Cloud Intersection Realignment 1,100,000 1,053,887 Bicentennial Center Improvements 10,200,000 9,894,365 Fire Department Apparatus Bay Addition 2,096,654 162,506 Ohio Street Improvements 1,700,000 2,156,130 Iron Avenue Reconstruction 2,250,000 3,331,542 Chiller for Police Department 93,400 97,905 Greeley Ave Bridge 305,000 169,867 Community Fieldhouse 7,651,685 2,059,740 Centennial Road Improvements - Design 56,911 56,911 2015 Traffic Control Maintenance 265,250 16,898 Wayfinding Phase II 350,000 239,452 45 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) 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, 2015. 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 $1,902,252 reported as landfill closure and postclosure care liability at December 31 represents the cumulative amount reported to date based on the use of 28.8% of the estimated capacity of the landfill. The City's solid waste fund will recognize the remaining estimate cost of closure and postclosure care of $4,697,309 as the remaining estimated capacity is filled over the remaining life expectancy of 142 years. These amounts are based on what it would cost to perform all closure and postclosure care in 2015. 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 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 (the Base or Site) to the City on or about September 9, 1966. The property is now known to contain areas of extensive soil and groundwater contamination, which is a result of the use and disposal of chlorinated solvents during military operations at the Base from 1942 until Base closure in 1965. 46 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) H. Environmental Matters (Continued) 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 (Corps) is the lead agency for the Department at formerly used defense sites. The Corps has investigated the soil and groundwater contamination at the Site under the regulatory oversight of the U.S. Environmental Protection Agency (EPA) and the Kansas Department of Health and Environment (KDHE). The Site is not designated as a National Priority List Superfund site, but investigation and remediation are required to be in compliance with the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). Potential liability for contamination under CERCLA 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 Site, the City is potentially liable under CERCLA, although the City believes that it has meritorious defenses to such liability. The City is considered to be a Potentially Responsible Party (PRP) for the 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 Salina Public Entities) currently own over 90% of the nearly 4,000 acres of the Base property. No third party has asserted any claim for bodily injury or property damage. Beginning in August 2007, the Salina Public Entities initiated settlement negotiations with the U.S. Federal Government. The negotiation objectives at that time included transferring the responsibility for completing the cleanup from the U.S. to the Salina Public Entities. The local objective was to reach a settlement agreement with the U.S. 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, by and through its environmental consultant, 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 Corps. Subsequently, on January 23, 2009, the Salina Public Entities delivered a demand letter to the Corps. The letter demanded that settlement negotiations begin immediately with the U.S. Department of Justice. On May 14, 2009 the City was notified that the Corp referred the Base 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 U.S. if the matter was not settled by the end of May, 2010. The Salina Public Entities did not intend to cut off settlement negotiations by the filing of suit, and this has been communicated to the U.S. No remedial action plan or record of decision has been adopted by the 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: Count I Citizen Suit Claim Pursuant to 42 U.S.C.§ 9659(a)(2), Count II Citizen Suit Claim Pursuant to 42 U.S.C.§ 9659(a)(1), Count III Claim for Recovery of Response Costs Pursuant to 42 U.S.C.§ 9607(a) and Count IV Claim for Declaratory Judgment Pursuant to 42 U.S.C.§ 9613(g)(2). 47 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) H. Environmental Matters (Continued) On or about October 6, 2010, Defendants filed their motion to dismiss and to strike, primarily with respect to the citizen suit claims. 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 a conflict of interest. The Salina Public Entities' claims under Counts III 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, if necessary, 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 agreed on a mediation to discuss settlement. The mediation sessions occurred in October 2011, and the mediation discussions continued for over a year. The parties have now agreed upon a partial settlement. The partial settlement includes payment by the U.S. in exchange for performance by the Salina Public Entities of a remedial investigation/feasibility study through entry of a Corrective Action Decision by KDHE (the "Work"). The present cost estimate of the Work is less than $10,000,000. The agreement is that the U.S. will pay 90% of the cost of the Work with the Salina Public Entities responsible for payment of the remaining 10%. It is anticipated that the agreed share of the Salina Public Entities will be paid by the City. Also, the claims and counterclaims in the lawsuit have been dismissed without prejudice with provisions tolling any and all statutes of limitation. No party is obligated under the settlement agreement to implement the Corrective Action Decision upon its entry by KDHE, and the parties will either negotiate an agreement to implement such Corrective Action Decision or refile their claims in court. The Salina Public Entities have entered into a Consent Agreement and Final Order ("CAFO") with KDHE, which is conditioned upon the U.S.'s payment to the City. On May 2, 2013, the U.S. District Court for the District of Kansas entered its Consent Decree. City of Salina, Kansas, et al. v. United States of America, et al., Case No. 1 0-CV -2298 CM/DJW. The Court's Consent Decree approved the settlement among the parties. The current status is that the U.S. wire transferred $8,426,700 to the account of the City, and the City added the share of the Salina Public Entities in the amount of $936,300 to the account. Although the claims and counterclaims in the lawsuit have been dismissed without prejudice, the City intends to vigorously pursue its claims that the U.S. should implement the Corrective Action Decision upon its entry by KDHE and its defenses against any claims brought against it. Based on presently known information, the City has determined that while a possible liability exists, at this time no reasonable estimate of the possible liability can be made. Therefore, no liability related to that matter has been recorded. 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. 48 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) I. Postemployment Health Care Plan (Continued) 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 $209,000 to the Plan (approximately 100% of total premiums) through their required contribution of $507 per month for retiree-only coverage and $1,360 for family coverage. Annual OPEB Cost and Net OPEB Obligation. The City’s annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the City’s annual OPEB cost for the Plan for the year, the amount actually contributed to the plan, and the changes in the City’s net OPEB obligation to the Plan: Annual required contribution 570,840$ Interest on Net OPEB Obligation 130,099 Adjustment to Annual Required Contribution [144,554] Annual OPEB cost (expense) 556,385 Benefit payments [209,000] Change in net OPEB obligation 347,385 Net OPEB obligation - beginning of year 4,336,620 Net OPEB obligation - end of year 4,684,005$ 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, 2015 was as follows: Annual Fiscal Annual OPEB Net Year OPEB Cost OPEB Ended Cost Contributed Obligation December 31, 2013 570,434 148,000 3,986,743 December 31, 2014 534,877 185,000 4,336,620 December 31, 2015 556,385 209,000 4,684,005 Funding Status and Funding Progress. As of the year ended December 31, 2015, the most recent actuarial valuation date, the Plan was not funded. The actuarial accrued liability for benefits was $5,538,770 and the actuarial value of asset was $0, resulting in an unfunded actuarial accrued liability (UAAL) of $5,538,770. The covered payroll (annual payroll of active employees covered by the plan) was $22,958,300, and the ratio of the UAAL to the covered payroll was 24.13%. 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. 49 CITY OF SALINA, KANSAS NOTES TO THE BASIC FINANCIAL STATEMENTS December 31, 2015 Note 5. OTHER INFORMATION (Continued) I. Postemployment Health Care Plan (Continued) 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, 2015, actuarial valuation, the projected unit credit actuarial cost method was used. The actuarial assumptions include a 3.00% 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 6.60%, reduced by decrements to an ultimate rate 4.50% after eighty years. The UAAL is being amortized as a level dollar over an open thirty-year period. I. Deficit Fund Balance The Capital Projects Fund maintained a deficit fund balance of $[10,537,480] at December 31, 2015, as did the following nonmajor funds: 911 Communications Fund - $[3,281], Police Grants Fund - $[25,139], Federal CARE Grant Fund - $[10,785]. J. Statutory Violations - Deficit Cash Balance The Capital Projects Fund had a deficit cash balance of $[3,499,129] at December 31, 2015, which is a violation of K.S.A. 10-1113. K. Subsequent Events On January 9, 2014, the City entered into a $4,250,000 loan agreement with the Kansas Department of Health and Environment. However, the City did not make its first draw on the loan until 2016. The loan proceeds will be used to fund various capital projects related to achieving and maintaining compliance with the Safe Drinking Water Act. The City will be obligated to make semi-annual payments of $139,229 from February 1, 2016 to August 1, 2035. These payments will include a gross interest rate of 2.43% plus a .35% service fee. On July 26, 2016, the City issued Series 2016-A general obligation internal improvement bonds in the amounts of $6,570,000. The bonds will be used to finance various capital projects. The City will make the first payment on the bonds on April 1, 2017 and the last payment on October 1, 2036. The interest rate on the bonds ranges from 2.00% to 2.50%. On July 26, 2016, the City issued Series 2016-B general obligation refunding bonds in the amounts of $13,750,000. The bonds will be used to refund certain maturities of the Series 2006-B, 2007-A, 2008-A, 2009- A, 2010-A and 2011-A general obligation bonds. The City will make the first payment on the bonds on April 1, 2017 and the last payment on October 1, 2036. The interest rate on the bonds ranges from 2.00% to 2.50%. On February 2, 2016, the City issued Series 2016-1 temporary notes in the amounts of $6,890,000. The temporary notes will be used to finance improvements to the Bicentennial Center. The maturity date of the temporary notes is August 1, 2017 and the interest rate on the notes is 0.65%. On July 20, 2016, the City issued Series 2016-2 temporary notes in the amounts of $4,615,000. The temporary notes will be used to finance improvements to the Salina Fieldhouse. The maturity date of the temporary notes is September 1, 2019 and the interest rate on the notes is 1.00%. 50 CITY OF SALINA, KANSAS OTHER POST-EMPLOYMENT BENEFITS REQUIRED SUPPLEMENTARY INFORMATION December 31, 2015 Schedule of Employer Contributions: Annual Fiscal Annual OPEB Net Year OPEB Cost OPEB Ended Cost Contributed Obligation December 31, 2013 570,434 148,000 3,986,743 December 31, 2014 534,877 185,000 4,336,620 December 31, 2015 556,385 209,000 4,684,005 Schedule of Funding Progress: UAAL as Actuarial Actuarial Actuarial Unfunded Funded Covered Percent of Valuation Value of Accrued AAL Ratio Payroll Payroll Date Assets (a)Liability (b)(b) - (a)(a/b)(c)(b-a)/(c) 12/31/2013 - 5,579,912 5,579,912 0.0% 22,283,185 25.04% 12/31/2014 - 5,538,770 5,538,770 0.0% 22,156,127 25.00% 12/31/2015 - 5,538,770 5,538,770 0.0% 22,958,300 24.13% 51 CITY OF SALINA, KANSAS KPERS PENSION PLAN REQUIRED SUPPLEMENTARY INFORMATION (CONTINUED) December 31, 2015 Schedule of the City’s Proportionate Share of the Net Pension Liability Last Ten Fiscal Years* Police and Local Firemen 12/31/15 12/31/15 City's proportion of the net pension liability 0.764% 2.258% City's proportionate share of the net pension liability 10,027,679$ 16,395,794$ City's covered-employee payroll 12,931,197$ 10,161,866$ City's proportionate share of the net pension liability as a percentage of its covered-employee payroll 77.55% 161.35% Plan fiduciary net position as a percentage of the total pension liability 71.98% 74.60% * - The amounts presented for each fiscal year were determined as of 12/31. Data became available with the inception of GASB 68 during fiscal year 2015, therefore 10 years of data is unavailable. Schedule of the City’s Contributions Last Ten Fiscal Years* Police and Local Firemen 12/31/15 12/31/15 Contractually required contribution 1,256,217$ 2,527,995$ Contributions in relation to the contractually required contribution 1,256,217 2,527,995 Contribution deficiency [excess] -$ -$ City's covered-employee payroll 13,251,236$ 10,730,033$ Contributions as a percentage of covered employee payroll 9.48% 23.56% * - Data became available with the inception of GASB 68 during fiscal year 2015, therefore 10 years of data is unavailable. 52 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. Bicentennial center fund - To account for the activities of the City's convention center. 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. 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. Sales tax economic development fund - To account for 12.5% of the 1/4 cent sales tax designated for economic Development purposes. HOME 2012 fund - To account for grants received from the federal government to be used for housing rehabilitation. 911 communications - To account for transitioning the receipt and administration of 911 fees to the City from the Kansas Department of Revenue and Saline County, as the City is now the public answering point. Monies will be used to pay for 911 related services. Kenwood cove capital fund - To account for the Special Sales Tax proceeds to be used to provide for long-term capital maintenance activity at the facility. 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 Federal grants fund - To account for grants received from the federal government to be used to monitor and mediate fair housing complaints. 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. Federal CARE grant fund - To account for revenue and expenses associated with the CARE Grant. Police Department federal forfeiture funds - To account for revenue and expenses associated with federal Equitable Sharing Program funds. Homeowners’ assistance fund - To receive donations and/or other funds to assist low and moderate income persons in improving their homes. Animal shelter donations fund – To accumulate donations and account for expenses to benefit the animal shelter. 53 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 2,038,501$ 478,999$ 1,085,887$ 3,603,387$ Receivables Accounts 3,611 - - 3,611 Total assets 2,042,112$ 478,999$ 1,085,887$ 3,606,998$ LIABILITIES AND FUND BALANCES Liabilities: Accounts payable 182,814$ -$ -$ 182,814$ Due to other funds 20,861 - - 20,861 Total liabilities 203,675 - - 203,675 Fund balances: Restricted 264,373 - 1,085,887 1,350,260 Committed 1,415,789 478,999 - 1,894,788 Assigned 158,275 - - 158,275 Total fund balances 1,838,437 478,999 1,085,887 3,403,323 Total liabilities and fund balances 2,042,112$ 478,999$ 1,085,887$ 3,606,998$ CITY OF SALINA, KANSAS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2015 See independent auditor's report on the financial statements. 54 Total Total Nonmajor Total Nonmajor Nonmajor Debt Nonmajor Special Revenue Permanent Service Governmental Funds Funds Fund Funds REVENUES Taxes 353,659$ -$ -$ 353,659$ Intergovernmental 417,283 - 569,463 986,746 Charges for services 358,619 10,380 - 368,999 Licenses and permits 9,500 - - 9,500 Investment revenue 3,938 1,057 81 5,076 Donations 83,391 - - 83,391 Miscellaneous 115,845 - - 115,845 Total revenues 1,342,235 11,437 569,544 1,923,216 EXPENDITURES Current Culture and recreation 1,619,484 - - 1,619,484 Public safety 3,281 - - 3,281 Public health and sanitation 227,249 - - 227,249 Planning and development 120,915 - - 120,915 Miscellaneous - 35 - 35 Debt service Principal retirement - - 155,000 155,000 Interest and other charges - - 136,030 136,030 Capital outlay 502,090 - - 502,090 Total expenditures 2,473,019 35 291,030 2,764,084 Excess [deficiency] of revenues over [under] expenditures [1,130,784] 11,402 278,514 [840,868] Other financing sources [uses] Transfers in 1,363,306 - - 1,363,306 Transfers [out][30,000] - - [30,000] Total other financing sources [uses]1,333,306 - - 1,333,306 Net change in fund balance 202,522 11,402 278,514 492,438 Fund balance - Beginning of year 1,682,509 467,597 807,373 2,957,479 Restatement of prior year fund balance [46,594] - - [46,594] Fund balance - Beginning of year, as restated 1,635,915 467,597 807,373 2,910,885 Fund balance - End of year 1,838,437$ 478,999$ 1,085,887$3,403,323$ For the Year Ended December 31, 2015 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. 55 Business Special Bicentennial Improvement Neighborhood Parks & Center District Park Recreation ASSETS Cash and investments 92,584$ 3,952$ 124,178$ 87,640$ Receivables Accounts - 3,611 - - Total assets 92,584$ 7,563$ 124,178$ 87,640$ LIABILITIES AND FUND BALANCES Liabilities: Accounts payable 59,297$ 81$ 1,469$ 4,340$ Due to other funds - - - - Total liabilities 59,297 81 1,469 4,340 Fund balance: Restricted - 7,482 - 83,300 Committed 33,287 - 100,132 - Assigned - - 22,577 - Total fund balance [deficit]33,287 7,482 122,709 83,300 Total liabilities and fund balances 92,584$ 7,563$ 124,178$ 87,640$ December 31, 2015 NONMAJOR SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET CITY OF SALINA, KANSAS Community Sales Tax Special Development Economic HOME 911 Alcohol Revolving Development 2012 Communications 95,759$ 184,242$ 897,215$ -$ -$ - - - - - 95,759$ 184,242$ 897,215$ -$ -$ 95,625$ -$ -$ -$ 3,281$ - - - - - 95,625 - - - 3,281 134 184,242 - - - - - 897,215 [126,415] [3,281] - - - 126,415 - 134 184,242 897,215 - [3,281] 95,759$ 184,242$ 897,215$ -$ -$ 56 See independent auditor's report on the financial statements. Kenwood Special Cove Law Police Federal Capital Enforcement Grants Grants ASSETS Cash and investments 81,730$ 2,880$ -$ 19$ Receivables Accounts - - - - Total assets 81,730$ 2,880$ -$ 19$ LIABILITIES AND FUND BALANCES Liabilities: Accounts payable -$ -$ 15,063$ -$ Due to other funds - - 10,076 - Total liabilities - - 25,139 - Fund balance: Restricted - - - - Committed 81,730 2,880 [25,139] 19 Assigned - - - - Total fund balance [deficit]81,730 2,880 [25,139] 19 Total liabilities and fund balances 81,730$ 2,880$ -$ 19$ December 31, 2015 NONMAJOR SPECIAL REVENUE FUNDS (Continued) COMBINING BALANCE SHEET CITY OF SALINA, KANSAS Police War Federal Department Animal DARE Memorial Arts &CARE Federal Homeowners'Shelter Donations Maintenance Humanities Grant Forfeiture Funds Assistance Donations Totals 6,234$ 32,813$ 141,870$ -$ 98$ 5,606$ 281,681$ 2,038,501$ - - - - - - - 3,611 6,234$ 32,813$ 141,870$ -$ 98$ 5,606$ 281,681$ 2,042,112$ 38$ -$ 3,620$ -$ -$ -$ -$ 182,814$ - - - 10,785 - - - 20,861 38 - 3,620 10,785 - - - 203,675 - - - [10,785]- - - 264,373 6,196 32,813 138,250 - [9,185] 5,606 281,681 1,415,789 - - - - 9,283 - - 158,275 6,196 32,813 138,250 [10,785]98 5,606 281,681 1,838,437 6,234$ 32,813$ 141,870$ -$ 98$ 5,606$ 281,681$ 2,042,112$ 57 See independent auditor's report on the financial statements. Business Special Bicentennial Improvement Neighborhood Parks &Special Center District Park Recreation Alcohol Revenues Taxes -$ -$ -$ -$ -$ Intergovernmental - - - 184,555 184,555 Charges for services - 31,993 - - - Licenses and permits - - 9,500 - - Investment revenue 83 17 274 274 138 Donations - - - - - Miscellaneous - - - - - Total Revenues 83 32,010 9,774 184,829 184,693 Expenditures Current Culture and recreation 722,704 - - - - Public safety - - - - - Public health and sanitation - - - - 227,015 Planning and development - 78,837 - - - Capital outlay 1,148 - 5,024 254,129 - Total Expenditures 723,852 78,837 5,024 254,129 227,015 Excess [deficiency] of revenues over [under] expenditures [723,769] [46,827] 4,750 [69,300] [42,322] Other financing sources [uses] Transfers in 756,556 - - - - Transfers [out]- - - [30,000] - Total other financing sources [uses]756,556 - - [30,000] - Net change in fund balance 32,787 [46,827] 4,750 [99,300] [42,322] Fund balance, beginning of year - 54,309 117,959 182,600 42,456 Restatement of prior year fund balance 500 - - - - Fund balance, beginning of year, as restated 500 54,309 117,959 182,600 42,456 Fund balance, end of year 33,287$ 7,482$ 122,709$ 83,300$ 134$ CITY OF SALINA, KANSAS COMBINING STATEMENT OF REVENUES, EXPENDITURES, For the Year Ended December 31, 2015 AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS Bicentennial HUD Community Sales Tax Center Community Development Heritage Economic HOME 911 Event Development Revolving Commission Development 2012 Communications -$ -$ -$ -$ 353,659$ -$ -$ - - - - - 10,850 - - - - - - - - - - - - - - - - - 410 - 1,793 - - - - - - - - - - - - - - - - - - 410 - 355,452 10,850 - - - - - - - - - - - - - - 3,281 - - - - - - - - - - - - - - - - - - 133,391 - - - - - - 133,391 - 3,281 - - 410 - 222,061 10,850 [3,281] - - - - - - - - - - - - - - - - - - - - - - - 410 - 222,061 10,850 [3,281] 500 74,578 109,254 4 675,154 [10,850] - [500] [74,578] 74,578 [4] - - - - - 183,832 - 675,154 [10,850] - -$ -$ 184,242$ -$ 897,215$ -$ [3,281]$ 58 See independent auditor's report on the financial statements. Kenwood Special Fair Cove Law Police Federal Housing Capital Enforcement Grants Grants Revenues Taxes -$ -$ -$ -$ -$ Intergovernmental - - - - - Charges for services - - - - - Licenses and permits - - - - - Investment revenue - 100 3 - 19 Donations - - - - - Miscellaneous - - - 2,680 - Total Revenues - 100 3 2,680 19 Expenditures Current Culture and recreation - - - - - Public safety - - - - - Public health and sanitation - - - - - Planning and development - - - - - Capital outlay - 52,688 - - - Total Expenditures - 52,688 - - - Excess [deficiency] of revenues over [under] expenditures - [52,588]3 2,680 19 Other financing sources [uses] Transfers in - 106,750 - - - Transfers [out]- - - - - Total other financing sources [uses]- 106,750 - - - Net change in fund balance - 54,162 3 2,680 19 Fund balance, beginning of year 46,590 27,568 2,877 [27,819] - Restatement of prior year fund balance [46,590]- - - - Fund balance, beginning of year, as restated - 27,568 2,877 [27,819] - Fund balance, end of year -$ 81,730$2,880$ [25,139]$ 19$ COMBINING STATEMENT OF REVENUES, EXPENDITURES, CITY OF SALINA, KANSAS For the Year Ended December 31, 2015 NONMAJOR SPECIAL REVENUE FUNDS (Continued) AND CHANGES IN FUND BALANCES Police War Federal Department Animal DARE Memorial Arts &CARE Federal Homeowners'Shelter Donations Maintenance Humanities Grant Forfeiture Funds Assistance Donations Totals -$ -$ -$ -$ -$ -$ -$ 353,659$ - - - 37,323 - - - 417,283 - - 326,626 - - - - 358,619 - - - - - - - 9,500 9 75 132 - 42 9 560 3,938 - - - - - - 83,391 83,391 2,642 - 106,981 - - 3,542 - 115,845 2,651 75 433,739 37,323 42 3,551 83,951 1,342,235 - 1,270 895,510 - - - - 1,619,484 - - - - - - - 3,281 - - - - - - 234 227,249 52 - - 42,026 - - - 120,915 - - - - 55,710 - - 502,090 52 1,270 895,510 42,026 55,710 - 234 2,473,019 2,599 [1,195] [461,771] [4,703] [55,668] 3,551 83,717 [1,130,784] - - 500,000 - - - - 1,363,306 - - - - - - - [30,000] - - 500,000 - - - - 1,333,306 2,599 [1,195] 38,229 [4,703] [55,668] 3,551 83,717 202,522 3,597 34,008 100,021 [6,082] 55,766 2,055 197,964 1,682,509 - - - - - - - [46,594] 3,597 34,008 100,021 [6,082] 55,766 2,055 197,964 1,635,915 6,196$ 32,813$ 138,250$ [10,785]$ 98$ 5,606$ 281,681$1,838,437$ 59 See independent auditor's report on the financial statements. Cemetery Mausoleum Tricentennial ASSETS Endowment Endowment Commission Total Cash and investments 471,219$ 2,017$ 5,763$ 478,999$ Total assets 471,219$ 2,017$ 5,763$ 478,999$ LIABILITIES AND FUND BALANCES Liabilities Accounts payable -$ -$ -$ -$ Total liabilities - - - - Fund balances Committed 471,219 2,017 5,763 478,999 Total liabilities and fund balances 471,219$ 2,017$ 5,763$ 478,999$ CITY OF SALINA, KANSAS COMBINING BALANCE SHEET December 31, 2015 NONMAJOR PERMANENT FUNDS See independent auditor's report on the financial statements. 60 Cemetery Mausoleum Tricentennial Endowment Endowment Commission Total Revenues Charges for services 10,380$ -$ -$ 10,380$ Investment revenue 1,041 4 12 1,057 Total revenues 11,421 4 12 11,437 Expenditures Miscellaneous 35 - - 35 Total expenditures 35 - - 35 Net change in fund balance 11,386 4 12 11,402 Fund balances - beginning of year 459,833 2,013 5,751 467,597 Fund balances - end of year 471,219$ 2,017$ 5,763$ 478,999$ NONMAJOR PERMANENT FUNDS For the Year Ended December 31, 2015 CITY OF SALINA, KANSAS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES See independent auditor's report on the financial statements. 61 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Investment revenue 83$ -$ -$ 83$ Total revenues 83 - - - Expenditures Culture and recreation 722,704 480,000 725,000 2,296 Capital outlay 1,148 - - [1,148] Total expenditures 723,852 480,000 725,000 1,148 Excess [deficiency] of revenues over [under] expenditures [723,769] [480,000] [725,000] 1,231 Other financing sources [uses] Transfers in 756,556 492,000 708,558 47,998 Total other financing sources [uses]756,556 492,000 708,558 47,998 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]32,787 12,000 [16,442] 49,229 Unreserved fund balance, January 1 500 71,574 25,666 [25,166] Unreserved fund balance/GAAP fund balance December 31 33,287$ 83,574$ 9,224$ 24,063$ Budgeted Amounts See independent auditor's report on the financial statements. 62 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON - GAAP BASIS) BUSINESS IMPROVEMENT DISTRICT FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 83,128$ 90,000$ 90,000$ [6,872]$ Investment revenue 17 500 500 [483] Total revenues 83,145 90,500 90,500 [7,355] Expenditures Planning and development 78,837 90,500 90,500 11,663 Total expenditures 78,837 90,500 90,500 11,663 Excess [deficiency] of revenues over [under] expenditures 4,308 - - 4,308 Unreserved fund balance, January 1 [437] - - [437] Unreserved fund balance, December 31 3,871 -$ -$ 3,871$ Reconciliation to GAAP Accounts receivable 3,611 GAAP Fund Balance, December 31 7,482$ Budgeted Amounts See independent auditor's report on the financial statements. 63 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Licenses and permits 9,500$ 20,000$ 20,000$ [10,500]$ Investment revenue 274 4,000 4,000 [3,726] Total revenues 9,774 24,000 24,000 [14,226] Expenditures Capital outlay 5,024 134,260 134,260 129,236 Total expenditures 5,024 134,260 134,260 129,236 Excess [deficiency] of revenues over [under] expenditures 4,750 [110,260] [110,260] 115,010 Unreserved fund balance, January 1 95,382 110,260 110,260 [14,878] Unreserved fund balance, December 31 100,132 -$ -$ 100,132$ Reconciliation to GAAP Current year encumbrances 22,577 GAAP Fund Balance, December 31 122,709$ Budgeted Amounts See independent auditor's report on the financial statements. 64 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Intergovernmental 184,555$ 160,000$ 179,120$ 5,435$ Investment revenue 274 4,000 200 74 Total revenues 184,829 164,000 179,320 5,509 Expenditures Capital outlay 254,129 225,668 332,154 78,025 Total expenditures 254,129 225,668 332,154 78,025 Excess [deficiency] of revenues over [under] expenditures [69,300] [61,668] [152,834] 83,534 Other financing sources [uses] Transfers [out][30,000] [30,000] [30,000] - Total other financing sources [uses][30,000] [30,000] [30,000] - Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][99,300] [91,668] [182,834] 83,534 Unreserved fund balance, January 1 182,600 91,668 182,834 [234] Unreserved fund balance/GAAP fund balance December 31 83,300$ -$ -$ 83,300$ Budgeted Amounts See independent auditor's report on the financial statements. 65 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Intergovernmental 184,555$ 160,000$ 179,120$ 5,435$ Investment revenue 138 - - 138 Total revenues 184,693 160,000 179,120 5,573 Expenditures Public health and sanitation 227,015 165,204 221,585 [5,430] Total expenditures 227,015 165,204 221,585 [5,430] Excess [deficiency] of revenues over [under] expenditures [42,322] [5,204] [42,465] 143 Unreserved fund balance, January 1 42,456 5,205 42,465 [9] Unreserved fund balance/GAAP fund balance December 31 134$ 1$ -$ 134$ Budgeted Amounts See independent auditor's report on the financial statements. 66 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes 353,659$ 317,744$ 317,744$ 35,915$ Investment revenue 1,793 5,000 5,000 [3,207] Total revenues 355,452 322,744 322,744 [3,207] Expenditures Capital outlay 133,391 1,025,294 1,025,294 891,903 Total expenditures 133,391 1,025,294 1,025,294 891,903 Excess [deficiency] of revenues over [under] expenditures 222,061 [702,550] [702,550] 924,611 Unreserved fund balance, January 1 675,154 702,550 702,550 [27,396] Unreserved fund balance/GAAP fund balance December 31 897,215$ -$ -$ 897,215$ Budgeted Amounts 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) ARTS & HUMANITIES FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 326,626$ 480,350$ 480,350$ [153,724]$ Investment revenue 132 2,000 2,000 [1,868] Miscellaneous 106,981 500 500 106,481 Total revenues 433,739 482,850 482,850 104,613 Expenditures Culture and recreation 895,510 1,083,860 1,083,860 188,350 Total expenditures 895,510 1,083,860 1,083,860 188,350 Excess [deficiency] of revenues over [under] expenditures [461,771] [601,010] [601,010] 139,239 Other financing sources [uses] Transfers in 500,000 607,034 607,034 [107,034] Transfers [out]- [67,343] [67,343] 67,343 Total other financing sources [uses]500,000 539,691 539,691 [39,691] Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]38,229 [61,319] [61,319] 99,548 Unreserved fund balance, January 1 100,021 61,319 61,319 38,702 Unreserved fund balance/GAAP fund balance December 31 138,250$ -$ -$ 138,250$ 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) DEBT SERVICE FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Taxes Real estate taxes 2,700,326$ 2,726,505$ 2,726,505$ [26,179]$ Delinquent taxes 65,487 55,000 55,000 10,487 Motor vehicle taxes 311,602 279,408 279,408 32,194 Special assessments 1,716,643 1,655,000 1,655,000 61,643 Investment revenue 4,134 5,000 5,000 [866] Miscellaneous 95,808 96,800 96,800 [992] Total revenues 4,894,000 4,817,713 4,817,713 76,287 Expenditures Debt Service Principal retirement 4,885,284 5,120,042 5,120,042 234,758 Interest and other charges 1,602,053 1,602,053 1,602,053 - Total expenditures 6,487,337 6,722,095 6,722,095 234,758 Excess [deficiency] of revenues over [under] expenditures [1,593,337] [1,904,382] [1,904,382] 311,045 Other financing sources [uses] Issuance of bonds 224,400 - - 224,400 Transfers in 1,706,711 1,605,000 1,605,000 101,711 Total other financing sources [uses]1,931,111 1,605,000 1,605,000 326,111 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]337,774 [299,382] [299,382] 637,156 Unreserved fund balance, January 1 354,289 299,382 299,382 54,907 Unreserved fund balance December 31 692,063 -$ -$ 692,063$ Reconciliation to GAAP Taxes receivable 3,090,683 Deferred revenue [3,037,407] GAAP Fund Balance, December 31 745,339$ Budgeted Amounts See independent auditor's report on the financial statements. 69 CITY OF SALINA, KANSAS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL (NON - GAAP BASIS) SOLID W ASTE DISPOSAL FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 2,656,686$ 2,562,850$ 2,562,850$ 93,836$ Investment revenue 6,114 7,000 7,000 [886] Miscellaneous 70,707 - - 70,707 Total revenues 2,733,507 2,569,850 2,569,850 163,657 Expenditures Public works 1,893,406 2,936,659 2,936,659 1,043,253 Total expenditures 1,893,406 2,936,659 2,936,659 1,043,253 Excess [deficiency] of revenues over [under] expenditures 840,101 [366,809] [366,809] 1,206,910 Other financing sources [uses] Transfers [out][600,000] [975,375] [975,375] 375,375 Total other financing sources [uses][600,000] [975,375] [975,375] 375,375 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]240,101 [1,342,184] [1,342,184] 1,582,285 Unreserved fund balances, January 1 2,085,518 1,342,184 1,342,184 743,334 Unreserved fund balances, December 31 2,325,619$ -$ -$ 2,325,619$ Budgeted Amounts See independent auditor's report on the financial statements. 70 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 19,012,854$ 19,658,700$ 19,658,700$ [645,846]$ Investment revenue 28,053 25,000 25,000 3,053 Miscellaneous 40,201 560,000 560,000 [519,799] Total revenues 19,081,108 20,243,700 20,243,700 [1,162,592] Expenditures Public works 13,380,232 16,451,428 16,451,428 3,071,196 Total expenditures 13,380,232 16,451,428 16,451,428 3,071,196 Excess [deficiency] of revenues over [under] expenditures 5,700,876 3,792,272 3,792,272 1,908,604 Other financing sources [uses] Transfers in 60,302 35,950 35,950 24,352 Transfers [out][5,646,302] [8,724,444] [8,724,444] 3,078,142 Total other financing sources [uses][5,586,000] [8,688,494] [8,688,494] 3,102,494 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]114,876 [4,896,222] [4,896,222] 5,011,098 Unreserved fund balances, January 1 9,306,498 4,896,222 4,896,222 4,410,276 Prior year cancelled encumbrances 20,867 - - 20,867 Unreserved fund balances, December 31 9,442,241$ -$ -$ 9,442,241$ Budgeted Amounts See independent auditor's report on the financial statements. 71 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 2,543,119$ 2,577,830$ 2,577,830$ [34,711]$ Investment revenue 2,482 3,500 3,500 [1,018] Total revenues 2,545,601 2,581,330 2,581,330 [35,729] Expenditures Public works 1,960,188 1,868,215 1,868,215 [91,973] Total expenditures 1,960,188 1,868,215 1,868,215 [91,973] Excess [deficiency] of revenues over [under] expenditures 585,413 713,115 713,115 [127,702] Other financing sources [uses] Transfers [out][448,350] [965,459] [965,459] 517,109 Total other financing sources [uses][448,350] [965,459] [965,459] 517,109 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]137,063 [252,344] [252,344] 389,407 Unreserved fund balance, January 1 897,013 785,062 785,062 111,951 Unreserved fund balances, December 31 1,034,076$ 532,718$ 532,718$ 501,358$ Budgeted Amounts See independent auditor's report on the financial statements. 72 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, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 819,945$ 834,500$ 834,500$ [14,555]$ Investment revenue 221 - - 221 Miscellaneous 42,416 - - 42,416 Total revenues 862,582 834,500 834,500 28,082 Expenditures Recreation 815,382 904,877 904,877 89,495 Total expenditures 815,382 904,877 904,877 89,495 Excess [deficiency] of revenues over [under] expenditures 47,200 [70,377] [70,377] 117,577 Other financing sources [uses] Transfers [out]- [48,217] [48,217] 48,217 Total other financing sources [uses]- [48,217] [48,217] 48,217 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses]47,200 [118,594] [118,594] 165,794 Unreserved fund balance, January 1 117,158 118,594 118,594 [1,436] Unreserved fund balances, December 31 164,358$ -$ -$ 164,358$ Budgeted Amounts 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) WORKERS' COMPENSATION RESERVE FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 301,579$ 456,490$ 456,490$ [154,911]$ Investment revenue 1,491 2,500 2,500 [1,009] Miscellaneous 1,883 - - 1,883 Total revenues 304,953 458,990 458,990 [154,037] Expenditures General government 304,889 441,030 441,030 136,141 Total expenditures 304,889 441,030 441,030 136,141 Excess [deficiency] of revenues over [under] expenditures 64 17,960 17,960 [17,896] Unreserved fund balance, January 1 621,645 685,100 685,100 [63,455] Unreserved fund balances, December 31 621,709$ 703,060$ 703,060$ [81,351]$ Budgeted Amounts 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) HEALTH INSURANCE FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 6,368,477$ 7,084,350$ 7,084,350$ [715,873]$ Investment revenue 2,118 5,000 5,000 [2,882] Miscellaneous 16,122 - - 16,122 Total revenues 6,386,717 7,089,350 7,089,350 [702,633] Expenditures General government 6,121,023 8,048,360 8,048,360 1,927,337 Total expenditures 6,121,023 8,048,360 8,048,360 1,927,337 Excess [deficiency] of revenues over [under] expenditures 265,694 [959,010] [959,010] 1,224,704 Unreserved fund balance, January 1 896,856 1,307,041 1,307,041 [410,185] Unreserved fund balances, December 31 1,162,550$ 348,031$ 348,031$ 814,519$ Budgeted Amounts 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) CENTRAL GARAGE FUND For the Year Ended December 31, 2015 Variance with Final Budget Positive Actual Original Final [Negative] Revenues Charges for services 1,257,329$ 1,811,570$ 1,811,570$ [554,241]$ Investment revenue 66 40 40 26 Miscellaneous 928 - - 928 Total revenues 1,258,323 1,811,610 1,811,610 [553,287] Expenditures General government 1,379,585 1,806,158 1,806,158 426,573 Total expenditures 1,379,585 1,806,158 1,806,158 426,573 Excess [deficiency] of revenues over [under] expenditures [121,262] 5,452 5,452 [126,714] Other financing sources [uses] Transfers in 100,000 - - 100,000 Transfers [out][10,000] [66,150] [66,150] 56,150 Total other financing sources [uses]90,000 [66,150] [66,150] 156,150 Excess [deficiency] of revenues and other sources over [under] expenditures and other [uses][31,262] [60,698] [60,698] 29,436 Unreserved fund balance, January 1 16,441 376,490 376,490 [360,049] Unreserved fund balance, December 31 [14,821]$ 315,792$ 315,792$ [330,613]$ Budgeted Amounts See independent auditor's report on the financial statements. 76 77 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. 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. Total Workers'Internal Compensation Health Central Service ASSETS Reserve Insurance Garage Funds Current assets: Cash and investments 750,898$ 1,162,720$43,145$ 1,956,763$ Inventory and prepaid supplies - - 194,089 194,089 Total current assets 750,898 1,162,720 237,234 2,150,852 Capital assets: Capital assets - - 223,242 223,242 Less: accumulated depreciation - - 181,362 181,362 Total capital assets - - 41,880 41,880 Total assets 750,898 1,162,720 279,114 2,192,732 Deferred outflows of resources: Pension - contributions subsequent to the measurement date - - 9,278 9,278 Pension - changes in proportion - - 7 7 Total deferred outflows of resources - - 9,285 9,285 Total assets and deferred outflows of resources 750,898$ 1,162,720$288,399$2,202,017$ Liabilities: Current liabilities (payable from current assets): Accounts payable 204$ 170$ 57,965$ 58,339$ Current portion of compensated absences payable - - 18,832 18,832 Current portion of accrued claims payable 181,093 275,440 - 456,533 Total current liabilities (payable from current assets)181,297 275,610 76,797 533,704 Noncurrent liabilities: Compensated absences payable - - 17,877 17,877 Accrued claims payable 100,508 - - 100,508 Net pension liability - - 141,390 141,390 Total noncurrent liabilities 100,508 - 159,267 259,775 Total liabilities 281,805 275,610 236,064 793,479 Deferred inflows of resources Pension - difference between expected and actual experience - - 4,003 4,003 Pension - net difference between projected and actual earnings on pension plan investments - - 5,504 5,504 Pension - changes of assumptions - - 1,976 1,976 Pension - change in proportion - - 6,959 6,959 Total deferred inflows of resources - - 18,442 18,442 Total liabilities and deferred inflows of resources 281,805$ 275,610$ 254,506$811,921$ Net Position Invested in capital assets, net of related debt -$ -$ 41,880$ 41,880$ Unrestricted 469,093 887,110 [7,987] 1,348,216 Total net position 469,093$ 887,110$ 33,893$ 1,390,096$ CITY OF SALINA, KANSAS COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS December 31, 2015 See independent auditor's report on the financial statements. 78 Total Workers'Internal Risk Compensation Health Central Information Service Management Reserve Insurance Garage Systems Funds Operating revenues Charges for services -$ 301,579$ 6,368,477$ 1,257,329$ -$ 7,927,385$ Miscellaneous - 1,883 16,122 98 - 18,103 Total operating revenues - 303,462 6,384,599 1,257,427 - 7,945,488 Operating expenses General government - 244,128 5,867,248 1,332,749 - 7,444,125 Depreciation - - - 9,259 - 9,259 Total operating expenses - 244,128 5,867,248 1,342,008 - 7,453,384 Operating income [loss]- 59,334 517,351 [84,581] - 492,104 Nonoperating revenues [expenses] Investment revenue - 1,491 2,118 66 - 3,675 Gain/[loss] on disposal of fixed assets - - - 830 - 830 Total other operating revenues [expenses] - 1,491 2,118 896 - 4,505 Income [loss] before transfers - 60,825 519,469 [83,685] - 496,609 Transfers from [to] other funds Transfers in - - - 100,000 - 100,000 Transfers [out]- - - [10,000] - [10,000] Total transfers - - - 90,000 - 90,000 Change in net position - 60,825 519,469 6,315 - 586,609 Net position, January 1 25,593 408,268 367,641 185,379 43,407 1,030,288 Restatement [25,593] - - [157,801] [43,407] [226,801] Net position, January 1, restated - 408,268 367,641 27,578 - 803,487 Net position, December 31 -$ 469,093$ 887,110$ 33,893$ -$ 1,390,096$ COMBINING STATEMENT OF REVENUES, EXPENSES INTERNAL SERVICE FUND CITY OF SALINA, KANSAS For the Year Ended December 31, 2015 AND CHANGES IN NET POSITION See independent auditor's report on the financial statements. 79 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 -$ 240,818$ 6,114,702$1,257,330$-$ 7,612,850$ Cash paid to suppliers of goods or services - [244,490] [5,867,248] [1,067,832] - [7,179,570] Cash paid to employees - - - [261,984] - [261,984] Other operating receipts - 1,883 16,122 98 - 18,103 Net cash provided by [used in] operating activities - [1,789] 263,576 [72,388] - 189,399 Cash flows from investing activities Interest received - 1,491 2,118 65 - 3,674 Cash flows from capital and related financing activities Purchase and construction of capital assets - - - [36,685] - [36,685] Proceeds from sale of capital assets - - - 830 - 830 Net cash provided by [used in] capital - - - [35,855] - [35,855] Cash flows from noncapital financing activities Transfers in - - - 100,000 - 100,000 Transfers [out]- - - [10,000] - [10,000] Net cash provided by [used in] noncapital financing activities - - - 90,000 - 90,000 Net increase [decrease] in cash and cash equivalents - [298] 265,694 [18,178] - 247,218 Cash and cash equivalents, January 1 62,853 751,196 897,026 61,323 126,351 1,898,749 Restatement [62,853] - - - [126,351] [189,204] Cash and cash equivalents, January 1, restated - 751,196 897,026 61,323 - 1,709,545 Cash and cash equivalents, December 31 -$ 750,898$ 1,162,720$43,145$ -$ 1,956,763$ For the Year Ended December 31, 2015 CITY OF SALINA, KANSAS INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS See independent auditor's report on the financial statements. 80 Total Workers'Internal Compensation Health Central Service Reserve Insurance Garage Funds Reconciliation of operating [loss] income to net cash provided by [used in] operating activities Operating income [loss]59,334$ 517,351$[84,581]$ 492,104$ Adjustments to reconcile operating income [loss] to net cash provided by [used in] operating activities Depreciation expense - - 9,259 9,259 [Increase] decrease in inventory - - [5,729] [5,729] [Increase] decrease in deferred outflows [32] [32] Increase [decrease] in accounts payable [362] - 13,085 12,723 Increase [decrease] in accrued compensated absences - - 2,832 2,832 Increase [decrease] in net pension liability 1,873 1,873 Increase [decrease] in claims payable [60,761] [253,775]- [314,536] Increase [decrease] in deferred inflows - - [9,095] [9,095] Net cash provided by [used in] operating activities [1,789]$ 263,576$[72,388]$ 189,399$ For the Year Ended December 31, 2015 CITY OF SALINA, KANSAS INTERNAL SERVICE FUNDS (Continued) COMBINING STATEMENT OF CASH FLOW S See independent auditor's report on the financial statements. 81 82 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. 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. Citizenship agency 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 Payroll Bond and Investigation 125 Escrow Proceeds Clearing Restitution Account Citizenship Plan Totals ASSETS: Cash and investments 84,647$ 63$ [303,463]$31,696$ 3,376$ 172$ 310,950$127,441$ Total assets 84,647$ 63$ [303,463]$31,696$ 3,376$ 172$ 310,950$127,441$ LIABILITIES: Accounts payable 84,647$ 63$ [303,463]$31,696$ 3,376$ 172$ 310,950$127,441$ Total liabilities 84,647$ 63$ [303,463]$31,696$ 3,376$ 172$ 310,950$127,441$ December 31, 2015 CITY OF SALINA, KANSAS COMBINING BALANCE SHEET AGENCY FUNDS See independent auditor's report on the financial statements. 83 Balance Balance December 31,December 31, 2014 Additions Deductions 2015 Cash and investments Special Assessment Escrow 121,157$ 1,113$ 37,623$ 84,647$ Fire Insurance Proceeds 53 58,234 58,224 63 PEGS Access 1 - 1 - Payroll Clearing [273,632] - 29,831 [303,463] Court Bond and Restitution 35,899 - 4,203 31,696 Police Investigation Account 4,014 - 638 3,376 Citizenship Trust 3,729 4 3,561 172 Section 125 Plan Fund 316,863 310,062 315,975 310,950 Total Assets 208,084$ 369,413$ 450,056$ 127,441$ Accounts Payable Special Assessment Escrow 121,157$ 1,113$ 37,623$ 84,647$ Fire Insurance Proceeds 53 58,234 58,224 63 PEGS Access 1 - 1 - Payroll Clearing [273,632] - 29,831 [303,463] Court Bond and Restitution 35,899 - 4,203 31,696 Police Investigation Account 4,014 - 638 3,376 Citizenship Trust 3,729 4 3,561 172 Section 125 Plan Fund 316,863 310,062 315,975 310,950 Total liabilities 208,084$ 369,413$ 450,056$ 127,441$ CITY OF SALINA, KANSAS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES For the Year Ended December 31, 2015 AGENCY FUNDS See independent auditor's report on the financial statements. 84 Federal Federal Grantor/Pass-Through CFDA Grantor/Program Title Number Revenues Expenditures Department of Housing and Urban Development Fair Housing Assistance Program 14.401 30,300$ -$ Passed through Kansas Housing Resources Corporation Emergency Solutions Grant 14.231 97,796 97,796 Total Department of Housing and Urban Development 128,096 97,796 Department of Transportation Passed Through the Kansas Department of Transportation: State and Community Highway Safety 20.600 11,495 11,495 National Priority Safety Programs 20.616 7,502 7,502 Total Department of Transportation 18,997 18,997 Environmental Protection Agency Community Action for a Renewed Environment (CARE) Program 66.035 37,323 42,026 Passed Through the Kansas Department of Health and Environment Capitalization Grants for Drinking W ater State Revolving Funds 66.468 - 1,673,971 Total Environmental Protection Agency 37,323 1,715,997 Total Expenditures of Federal Awards 184,416$ 1,832,790$ SCHEDULE OF EXPENDITURES OF FEDERAL AW ARDS CITY OF SALINA, KANSAS For the Year Ended December 31, 2015 See independent auditor's report on the financial statements and notes to the schedule of expenditures of federal awards. 85 86 CITY OF SALINA, KANSAS NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS For the Year Ended December 31, 2015 1. Organization The City of Salina, Kansas (the City), is the recipient of several federal awards. All federal awards received directly from federal agencies as well as those awards that are passed through other government agencies, are included on the schedule of Expenditures of Federal Awards. 2. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City, and is presented on the Kansas regulatory basis of accounting which includes cash disbursements, accounts payable and encumbrances. The information presented in this schedule is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. The City elected not to use the 10% de minimis indirect cost rate. 3. Local Government Contributions Local cost sharing is required by certain federal grants. The amount of cost sharing varies with each program. Only the federal share of expenditures is presented in the Schedule of Expenditures of Federal Awards. 4. Additional Audits Grantor agencies reserve the right to conduct additional audits of the City’s grant programs for economy and efficiency and program results that may result in disallowed costs to the City. However, management does not believe such audits would result in any disallowed costs that would be material to the City’s financial position at December 31, 2015. 5. Outstanding Loans The City did not have any outstanding loans under any federal grants at December 31, 2015. 87 CITY OF SALINA, KANSAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS For the Year Ended December 31, 2015 Section I - Summary of Auditor’s Results Financial Statements Type of auditor’s report issued: Unmodified Internal control over financial reporting: Material weakness(es) identified? X Yes No Significant deficiency(ies) identified that are not considered to be material weaknesses? X Yes 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: Unmodified Any audit findings disclosed that are required to be reported in accordance with the Uniform Guidance? Yes X No Identification of major programs: CFDA Number(s) Name of Federal Program or Cluster 66.468 Capitalization Grants for Drinking Water State Revolving Funds Dollar threshold used to distinguish between type A and type B programs: $750,000 Auditee qualified as low-risk auditee? X Yes No CITY OF SALINA, KANSAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued) For the Year Ended December 31, 2015 Section II - Financial Statement Findings Current Year Findings Material Weaknesses: Finding 2015-1 - Cash and Bank Reconciliations Conditions and Criteria: During our audit of cash balances we noted the following: a. The City did not prepare individual bank reconciliations for the months of August, 2015 through November, 2015. b. The City did not complete the bank reconciliation for the month ended December 31, 2015 until May, 2016. c. The City did not have formal bank reconciliation procedures in place from August, 2015 through the completion of audit fieldwork in May, 2017. Context: The City underwent an accounting software conversion in August, 2015 and also experienced significant turnover in key finance department staff positions during 2015, 2016 and 2017. After the conversion process, the City was unable to properly reconcile cash balances due to problems encountered with the new software and due to inexperienced personnel attempting to perform the reconciliations. Effect: The cash balances for the months of August, 2015 through November, 2015 were inadequately documented and analyzed and the cash balances at December 31, 2016 were unable to be effectively audited until May, 2017. Cause: No procedures were in place to properly reconcile cash balances after the software conversion in August, 2015. Auditor's Recommendation: We recommend that the City establish written procedures to document the bank reconciliation process and ensure that bank reconciliations are prepared timely after each month-end. Additionally, we recommend that the City ensure that there is proper separation of duties with regards to individuals responsible for handling cash, recording accounting transactions, receiving and opening bank statements, preparing bank reconciliations and reviewing bank reconciliations. Views of Responsible Officials and Planned Corrective Actions: The City agrees with the recommendation and will work to implement the proposed steps. Finding 2015-2 - Capital Assets and Construction in Progress Conditions and Criteria: During our audit of capital assets and construction in progress we noted the following: a. During 2015, the City did not properly update their capital asset software for capital assets acquired and disposed of throughout the year. b. During 2015, the City did not consistently track the status of the various capital projects in progress and did not keep an accurate accounting of expenditures and open payables related to these projects. c. At the beginning of audit fieldwork, City staff did not possess appropriate knowledge of the City's asset capitalization policies or asset management systems. Context: The City underwent an accounting software conversion in August, 2015 and also experienced significant turnover in key finance department staff positions during 2015, 2016 and 2017. During much of this time, the City was unable to keep up with the management of capital asset and construction in progress reporting. Effect: The capital asset and construction in progress balances for 2015 were inadequately documented during much of audit fieldwork. It was not until June, 2017 that the City as able to complete the accounting for capital assets and construction in progress as of December 31, 2015. Cause: No procedures were in place to properly maintain capital asset and construction in progress balances during 2015. Auditor's Recommendation: We recommend that the City establish written procedures to document the recording of capital assets in their software and that all capital projects be continuously tracked and monitored to ensure accurate construction in progress balances. Additionally, we recommend that the City ensure that there is proper separation of duties with regard to individuals responsible for purchasing, recording and reconciling capital assets and construction in progress. Views of Responsible Officials and Planned Corrective Actions: The City agrees with the recommendation and will work to implement the proposed steps. 88 CITY OF SALINA, KANSAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued) For the Year Ended December 31, 2015 Section II - Financial Statement Findings (Continued) Current Year Findings (Continued) Finding 2015-3 - General Accounting Policies & Procedures Conditions and Criteria: During our audit, many of the reports requested by the auditors had to be re-run multiple times over the course of the approximately one year time period it took to complete audit fieldwork. It was necessary to re-run the reports after it was determined that the previous versions contained inaccurate or incomplete data. Each time a report was re-run, the audit process for that report had to be started over again, which significantly increased audit time. Reports that were re-run on multiple occasions included detail and summary trial balances, year-end accounts payable balances, year-end encumbrances balances, capital asset summaries, construction in progress reconciliations and other reports containing supplemental data. Context: The City underwent an accounting software conversion in August, 2015 and also experienced significant turnover in key finance department staff positions during 2015, 2016 and 2017. During much of this time, the City was attempting to identify errors created in the software conversion and post journal entries to correct the errors. Effect: Accounting reports necessary for the audit were incorrect or incomplete. Cause: The City lacked appropriate knowledge of the new accounting system to be able to correctly record transactions and generate reports. Auditor's Recommendation: We recommend that the City continue to provide appropriate levels of training for staff using the new accounting software and that the City work to develop appropriate written accounting policies and procedures that include adequate internal controls. Views of Responsible Officials and Planned Corrective Actions: The City agrees with the recommendation and will work to implement the proposed steps. Significant Deficiencies: Finding 2015-4 - Municipal Court Accounts Receivable Conditions and Criteria: During our audit of municipal courts accounts receivable balances we noted the following: a. The City was unable to produce an accounts receivable aging report or accounts receivable subledger that agreed to the municipal courts accounts receivable balance as of December 31, 2015 Municipal Court Monthly Report. b. Per a comparison of the 2015 and 2014 Municipal Court Monthly Reports, the number of municipal court cases filed decreased by approximately 1% and the amount of cost and fine revenues collected decreased by approximately 7% during 2015. c. Per a comparison of the 2015 and 2014 Municipal Court Monthly Reports, the number of cases closed decreased by 1% during 2015 and the number of pending cases at December 31, 2015 was 22% higher than at December 31, 2014. Context: The City collects municipal court revenues and tracks municipal court accounts receivable balances. In the year under audit, the City was unable to provide appropriate documentation and explanations to the auditor to support the case numbers, revenues recorded, accounts receivable balances. Effect: The municipal court revenue and accounts receivable balances were inadequately documented and analyzed. Cause: No procedures were in place to produce the appropriate accounts receivable reports or analyze the differences between years of various municipal court revenue data. Auditor's Recommendation: We recommend that the City process and save a detailed accounts receivable aging report at the end of each month that agrees to the Municipal Court Monthly Report. Additionally, we recommend that the City designate an appropriate individual to review and approve these reports each month and to closely monitor the number of cases closed and cases pending in order to determine if sufficient progress is being made to close cases and collect related revenues. Additionally, we recommend the City evaluate its ticket issuance policies to determine if the number of tickets issued and potential revenues generated by these tickets are in line with the City's projections and budget. Views of Responsible Officials and Planned Corrective Actions: The City agrees with the recommendation and will work to implement the proposed steps. 89 CITY OF SALINA, KANSAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued) For the Year Ended December 31, 2015 Section II - Financial Statement Findings (Continued) Prior Year Findings Significant Deficiencies: Finding 2014-1 - Municipal Court Accounts Receivable Conditions and Criteria: During our audit of municipal courts accounts receivable balances we noted the following: a. The City was unable to produce an accounts receivable aging report or accounts receivable subledger that agreed to the municipal courts accounts receivable balance as of December 31, 2014 Municipal Court Monthly Report. b. Per a comparison of the 2014 and 2013 Municipal Court Monthly Reports, the number of municipal court cases filed and the amount of cost and fine revenues collected decreased by approximately 15% during 2014. c. Per a comparison of the 2014 and 2013 Municipal Court Monthly Reports, the number of case closed decreased by 23% during 2014 and the number of pending cases at December 31, 2014 was 68% higher than at December 31, 2013. Context: The City collects municipal court revenues and tracks municipal court accounts receivable balances. In the year under audit, the City was unable to provide appropriate documentation and explanations to the auditor to support the case numbers, revenues recorded, accounts receivable balances. Effect: The municipal court revenue and accounts receivable balances were inadequately documented and analyzed. Cause: No procedures were in place to produce the appropriate accounts receivable reports or analyze the differences between years of various municipal court revenue data. Auditor's Recommendation: We recommend that the City process and save a detailed accounts receivable aging report at the end of each month that agrees to the Municipal Court Monthly Report. Additionally, we recommend that the City designate an appropriate individual to review and approve these reports each month and to closely monitor the number of cases closed and cases pending in order to determine if sufficient progress is being made to close cases and collect related revenues. Additionally, we recommend the City evaluate its ticket issuance policies to determine if the number of tickets issued and potential revenues generated by these tickets are in line with the City's projections and budget. Status: Repeated at Finding 2015-4 Section III - Federal Award Findings and Questioned Costs None Noted 90 www.mizehouser.com  mhco@mizehouser.com 534 S Kansas Ave, Suite 700  Topeka, KS 66603-3465  785.233.0536 p  785.233.1078 f 534 S Kansas Ave, Suite 400  Topeka, KS 66603-3454  785.234.5573 p  785.234.1037 f 7101 College Blvd, Suite 900  Overland Park, KS 66210-1984  913.451.1882 p  913.451.2211 f 211 E Eighth Suite A Lawrence, KS 66044-2771  785.842.8844 p  785.842.9049 f 91 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, 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 the Kansas Municipal Audit and Accounting Guide, the 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, (the City) as of and for the year ended December 31, 2015, and the related notes to the financial statements, which collectively comprise the City’s financial statements, and have issued our report thereon dated June 26, 2017. Our report includes a reference to other auditors who audited the financial statements of the Salina Airport Authority and the Housing Authority of the City of Salina, as described in our report on the City of Salina’s financial statements. This report does not include the results of the other auditors’ testing of internal control over financial reporting or compliance and other matters that are reported on separately by those auditors. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the City’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances 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. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control. Our consideration of internal control over financial reporting was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. However, as described in the accompanying schedule of findings and questioned costs, we identified certain deficiencies in internal control that we consider to be material weaknesses and significant deficiencies. A deficiency in internal controls 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. We consider the deficiencies described in the accompanying schedule of findings and questioned costs to be material weaknesses: Finding 2015-1, Finding 2015- 2, Finding 2015-3. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charge with governance. We consider the deficiencies described in the accompanying schedule of findings and questioned costs to be significant deficiencies: Finding 2015-4. 92 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 reported to management of the City in a separate letter dated June 26, 2017. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Certified Public Accountants Lawrence, Kansas June 26, 2017 www.mizehouser.com  mhco@mizehouser.com 534 S Kansas Ave, Suite 700  Topeka, KS 66603-3465  785.233.0536 p  785.233.1078 f 534 S Kansas Ave, Suite 400  Topeka, KS 66603-3454  785.234.5573 p  785.234.1037 f 7101 College Blvd, Suite 900  Overland Park, KS 66210-1984  913.451.1882 p  913.451.2211 f 211 E Eighth Suite A Lawrence, KS 66044-2771  785.842.8844 p  785.842.9049 f 93 INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE Mayor and City Commissioners City of Salina, Kansas Report on Compliance for Each Major Federal Program We have audited the compliance of the City of Salina, Kansas, (the City) with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of the City’s major federal programs for the year ended December 31, 2015. The City’s major federal financial programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Management’s Responsibility Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal programs. Auditor’s Responsibility Our responsibility is to express an opinion on compliance for each of the City’s major federal programs based on our audit of the types of compliance requirements referred to above. 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 the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those standards and the Uniform Guidance 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 on compliance for each major federal program. However, our audit does not provide a legal determination on the City’s compliance. Opinion on Each Major Federal Program In our opinion, the City complied, in all material respects, with the types of compliance 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, 2015. 94 Report on Internal Control Over Compliance Management of the City is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered the City’s internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program in order to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with the Uniform Guidance, 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. 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. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charge with governance. 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 internal control over compliance that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exists that were not identified. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose. Certified Public Accountants Lawrence, Kansas June 26, 2017