INTERNAL SERVICE FUNDS

Transcription

1 INTERNAL SERVICE FUNDS are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of a governmental unit, or to other governmental units, on a cost-reimbursement basis. Central Equipment Service Fund To provide for the maintenance, repair and purchase of vehicles and electronics for City and Borough services. Revenues are from rental charges from user departments within the City and Borough. Expenses include labor, materials, supplies and services. Replacement of equipment is part of the rental rate of the equipment. Self-insurance Fund To provide for the cost of administering the City and Borough s Risk Management Program. This program provides coverage for the various risks of loss from legal liabilities, property damage and workers compensation claims. The program also provides coverage for medical, dental and vision claims and term life coverage. Charges for services are based on estimates of the amounts needed to pay prior and current year claims in addition to the cost of the excess and special insurance policy premiums

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3 CITY and BOROUGH OF JUNEAU Combining Statement of Net Assets June 30, 2005 with comparative total amounts for 2004 and 2003 Central Equipment Self- Totals Servic e insuranc e ASSETS Current assets: Equity in central treasury $ 3,014,969 3,723,624 6,738,593 5,384,785 4,757,730 Receivables - other - 399, , , ,202 Inventories 289, , , ,650 Prepaid items - insurance - 133, ,710 1,984 2,407 Total current assets 3,304,935 4,256,893 7,561,828 5,851,167 5,216,989 Capital assets: Buildings and improvements 17,828-17,828 17,828 17,828 Machinery, equipment and fixtures 12,654,070 19,105 12,673,175 12,841,945 12,108,555 Less accumulated depreciation (7,996,744) (18,375) (8,015,119) (7,682,547) (7,032,891) Net property, plant and equipment 4,675, ,675,884 5,177,226 5,093,492 Total assets 7,980,089 4,257,623 12,237,712 11,028,393 10,310,481 LIA BILITIES Current liabilities: Accounts payable 76,628 88, , , ,480 Contracts payable - current 16,776-16,776 64, ,713 Acc r ued s alar ies, pay r oll t ax es and withholdings payable 14,953 11,345 26,298 26,574 21,987 Accrued annual leave and compensation time 17,241 14,070 31,311 19,040 30,504 Accrued and other liabilities 185 3,206,337 3,206,522 3,049,585 2,567,678 Total current liabilities 125,783 3,320,282 3,446,065 3,355,126 3,011,362 Long-term liabilities: Accrued annual leave and compensation time 22,611 19,168 41,779 59,010 41,611 Long-term contracts payable ,780 81,030 Total long-term liabilities 22,611 19,168 41,779 75, ,641 Total liabilities 148,394 3,339,450 3,487,844 3,430,916 3,134,003 NET ASSETS Invested in capital assets, net of related debt 4,658, ,658,923 5,095,081 4,872,396 Unrestricted 3,173, ,443 4,090,945 2,502,396 2,304,082 Total net assets $ 7,831, ,173 8,749,868 7,597,477 7,176,

4 CITY and BOROUGH OF JUNEAU Combining Statement of Revenues, Expenses, and Changes in Net Assets For the fiscal year ended June 30, 2005 with comparative total amounts for 2004 and 2003 Central Equipment Self- Totals Services insurance OPERATING REVENUES - Charges for services $ 2,204,844 13,565,172 15,770,016 14,943,612 12,830,025 OPERATING EXPENSES Salaries and fringe benefits 345, , , , ,474 Contracted services 6,152 35,100 41, , ,789 M aterials and utilities 211, , , ,211 Insurance premiums - 10,453,156 10,453,156 10,122,153 9,440,276 Claims - 1,640,616 1,640,616 2,024,911 1,161,384 Other: Gasoline and oil 623, , , ,122 M iscellaneous 127,023 97, , , ,016 1,313,304 12,500,403 13,813,707 13,817,169 12,386,272 Depreciation 877, , , ,472 Total operating expenses 2,190,803 12,500,612 14,691,415 14,706,815 13,243,744 Operating income (loss) 14,041 1,064,560 1,078, ,797 (413,719) NONOPERATING INCOME (EXPENSES) State equipment grant 3,445-3, ,135 - Investment and interest income 84,707-84,707 19, ,655 Interest expense (1,840) - (1,840) (5,649) (11,952) Gain (Loss) on disposal of assets (12,522) - (12,522) 10,850 41,350 Net nonoperating income (expenses) 73,790-73, , ,053 Income (loss) before transfer 87,831 1,064,560 1,152, ,999 (245,666) Transfer out (191,000) Change in net assets 87,831 1,064,560 1,152, ,999 (436,666) Total net assets - beginning 7,743,864 (146,387) 7,597,477 7,176,478 7,613,144 Total net assets - ending $ 7,831, ,173 8,749,868 7,597,477 7,176,

5 CITY AND BOROUGH OF JUNEAU Combining Statement of Cash Flows For the fiscal year ended June 30, 2005 with comparative total amounts for 2004 and 2003 Increase (decrease) in cash and cash equivalents: Central Equipment Self- Totals Service insurance Cash flows from operating activities: Cash receipts from users $ 2,374,470 13,186,433 15,560,903 14,936,368 12,754,907 Payments to suppliers for goods and services (941,301) (12,274,596) (13,215,897) (12,778,833) (12,138,856) Payments to employees for services (347,071) (277,088) (624,159) (603,798) (572,435) Net cash provided by operating activities 1,086, ,749 1,720,847 1,553,737 43,616 Cash flows from noncapital financing activities - Transfers to other funds (191,000) Cash flows from capital and related financing activities: Cash received from disposal of capital assets 30,345-30,345 12,736 77,567 Cash received from state capital grant 3,445-3, ,135 - Cash paid for the acquisition of capital assets (419,232) - (419,232) (975,267) (971,439) Principal paid on long-term contracts (64,463) - (64,463) (137,504) (131,256) Interest paid on long-term contracts (1,841) - (1,841) (5,648) (11,952) Net cash used by capital and related financing activities (451,746) - (451,746) (946,548) (1,037,080) Cash flows from investing activities - Earnings from invested proceeds 84,707-84,707 19, ,655 Net increase (decrease) in cash and cash equivalents 719, ,749 1,353, ,055 (1,045,809) Cash and cash equivalents at beginning of year 2,295,910 3,088,875 5,384,785 4,757,730 5,803,539 Cash and cash equivalents at end of year $ 3,014,969 3,723,624 6,738,593 5,384,785 4,757,730 Reconciliation of operating income to net cash provided (used) by operating activities: Operating income (loss) $ 14,041 1,064,560 1,078, ,797 (413,719) Adjustments to reconcile net operating income (loss) to net cash provided by operating activities: Depreciation 877, , , ,472 (Increase) decrease in assets: Receivables - other 169,626 (378,739) (209,113) (7,244) (75,118) Inventories (16,014) - (16,014) (302) (13,123) Prepaid expenses - (131,726) (131,726) ,960 Increase (decrease) in liabilities: Accounts payable 43,556 (73,866) (30,310) (58,012) (567,590) Accrued salaries payable 268 (544) (276) 4,587 (2,054) Accrued annual leave and compensation time (2,157) (2,803) (4,960) 5,935 6,093 Accrued and other liabilities (721) 157, , , ,695 Total adjustments 1,072,057 (429,811) 642,246 1,316, ,335 Net cash provided (used) by operating activities $ 1,086, ,749 1,720,847 1,553,737 43,

6 CITY AND BOROUGH OF JUNEAU CENTRAL EQUIPMENT SERVICES Comparative Statements of Revenues, Expenses, and Changes in Net Assets For the fiscal years ended June 30, 2005, 2004 and OPERATING REVENUES - Charges for services $ 2,204,844 2,012,588 1,851,653 OPERATING EXPENSES Salaries and fringe benefits 345, , ,510 Contracted services 6,152 6,146 7,490 Materials and utilities 211, , ,211 Other: Gasoline and oil 623, , ,122 Miscellaneous 127, , ,442 1,313,304 1,033, ,775 Depreciation 877, , ,263 Total operating expenses 2,190,803 1,922,503 1,849,038 Operating income 14,041 90,085 2,615 NONOPERATING INCOME (EXPENSES) State equipment grant 3, ,135 - Investment and interest income 84,707 19, ,655 Interest expense (1,840) (5,649) (11,952) Gain (loss) on disposal of capital assets (12,522) 10,850 41,350 Net nonoperating income 73, , ,053 Income before transfer 87, , ,668 Transfer out - - (191,000) Change in net assets 87, ,287 (20,332) Total net assets - beginning 7,743,864 7,469,577 7,489,909 Total net assets - ending $ 7,831,695 7,743,864 7,469,

7 CITY AND BOROUGH OF JUNEAU CENTRAL EQUIPMENT SERVICES Schedule of Revenues, Expenses, and Changes in Net Assets Budget and Actual For the fiscal year ended June 30, 2005 Variance with Final Budget - Budgeted Amounts positive Original Final Actual (negative) OPERATING REVENUES - Charges for services $ 2,036,400 2,874,112 2,204,844 (669,268) OPERATING EXPENSES Salaries and fringe benefits 349, , ,182 4,318 Contracted services 9,700 9,725 6,152 3,573 Materials and utilities 176, , ,739 (34,077) Other: Gasoline and oil 378, , ,765 (158,008) Miscellaneous 133, , ,023 13,877 Capital outlay 1,238,300 2,444,582 1,701, ,460 Debt principal ,463 (64,463) Total operating expenses 2,285,200 3,590,126 3,081, ,680 Operating loss (248,800) (716,014) (876,602) (160,588) NONOPERATING INCOME (EXPENSES) State equipment grant - 31,800 3,445 (28,355) Investment and interest income 89,800 89,800 84,707 (5,093) Interest expense-capital leases - - (1,840) (1,840) Gain on disposal of capital assets ,345 30,345 Net nonoperating income 89, , ,657 (4,943) Change in net assets (Non-GAAP) $ (159,000) (594,414) (759,945) (165,531) Encumbrance adjustment 1,284,447 Capitalization of assets 419,232 Net book value of assets disposed (42,867) Depreciation expense (877,499) Principal paid on debt 64,463 Change in net assets $ 87,

8 CITY AND BOROUGH OF JUNEAU SELF-INSURANCE Comparative Statements of Revenues, Expenses, and Changes in Net Assets For the fiscal years ended June 30, 2005, 2004 and OPERATING REVENUES - Charges for services $ 13,565,172 12,931,024 10,978,372 OPERATING EXPENSES Salaries and fringe benefits 273, , ,964 Contracted services 35, , ,299 Insurance premiums 10,453,156 10,122,153 9,440,276 Claims 1,640,616 2,024,911 1,161,384 Other 97,790 71,782 72,574 12,500,403 12,784,103 11,394,497 Depreciation Total operating expenses 12,500,612 12,784,312 11,394,706 Change in net assets 1,064, ,712 (416,334) Total net assets - beginning (146,387) (293,099) 123,235 Total net assets - ending $ 918,173 (146,387) (293,099)

9 CITY AND BOROUGH OF JUNEAU SELF-INSURANCE Schedule of Revenues, Expenses, and Changes in Net Assets Budget and Actual For the fiscal year ended June 30, 2005 Variance with Final Budget - Budgeted Amounts positive Original Final Actual (negative) OPERATING REVENUES - Charges for services $ 12,471,600 12,471,600 13,565,172 1,093,572 OPERATING EXPENSES Salaries and fringe benefits 332, , ,638 53,862 Contracted services 270, ,200 35, ,100 Insurance premiums 10,611,700 10,611,700 10,456, ,044 Claims 718, ,000 1,640,616 (922,616) Other 103, ,800 97,790 6,010 Total operating expenses 12,036,200 12,086,200 12,508,800 (422,600) Change in net assets (Non-GAAP) $ 435, ,400 1,056, ,972 Encumbrance adjustment 8,397 Depreciation expense (209) Change in net assets $ 1,064,

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