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 Schedule 66 Combining Balance Sheet June 30, 2000 with comparative total amounts for 1999 and 1998 Central Equipment Self- Totals Assets Service insurance Current assets: Equity in central treasury $ 2,440,430 5,583,353 8,023,783 8,170,773 8,262,280 Receivables - other 14,600 3,943 18, ,353 Inventories 238, , , ,710 Prepaid items - insurance - 126, , , ,637 Total current assets 2,693,150 5,714,019 8,407,169 8,573,972 8,624,980 Property, plant and equipment: Buildings and improvements 17,828-17,828 17,828 17,828 Machinery, equipment and fixtures 10,163,253 19,105 10,182,358 9,973,863 9,473,402 Less accumulated depreciation (6,027,882) (15,159) (6,043,041) (5,613,472) (5,029,738) Net property, plant and equipment 4,153,199 3,946 4,157,145 4,378,219 4,461,492 Total assets $ 6,846,349 5,717,965 12,564,314 12,952,191 13,086,472 Liabilities and Fund Equities Current liabilities: Accounts payable $ 49,843 64, , , ,743 Contracts payable - current 53,921-53, , ,666 Accrued salaries, payroll taxes and withholdings payable 9,473 8,132 17,605 15,199 12,269 Accrued annual leave and compensation time 38,578 24,404 62,982 57,626 53,047 Accrued and other liabilities 3,490 1,846,138 1,849,628 1,705,801 2,216,775 Total current liabilities 155,305 1,943,115 2,098,420 2,426,541 2,742,500 Long-term liabilities Long-term contracts payable 258, , , ,411 Total liabilities 413,306 1,943,115 2,356,421 2,738,462 3,322,911 Fund equities: Contributed capital 2,081,158-2,081,158 2,081,158 2,077,658 Less accumulated amortization (471,378) - (471,378) (468,066) (464,754) Net contributed capital 1,609,780-1,609,780 1,613,092 1,612,904 Retained earnings - Unreserved 4,823,263 3,774,850 8,598,113 8,600,637 8,150,657 Total fund equities 6,433,043 3,774,850 10,207,893 10,213,729 9,763,561 Total liabilities and fund equities $ 6,846,349 5,717,965 12,564,314 12,952,191 13,086,

4 Schedule 67 Combining Statement of Revenues, Expenses, and Changes in Retained Earnings For the fiscal year ended June 30, 2000 with comparative total amounts for 1999 and 1998 Central Equipment Self- Total Services insurance Operating revenues - Charges for services $ 1,846,821 6,379,563 8,226,384 8,261,499 9,394,192 Operating expenses: Salaries and fringe benefits 257, , , , ,703 Contracted services 6, , , , ,527 Materials and utilities 211, , , ,857 Insurance premiums - 5,719,118 5,719,118 5,265,958 4,903,944 Claims - 588, , , ,427 Other: Gasoline and oil 297, , , ,645 Miscellaneous 115,866 77, , , , ,830 6,821,843 7,711,673 7,161,749 7,175,791 Depreciation 681,013 2, , , ,429 Total operating expenses 1,570,843 6,824,610 8,395,453 7,900,907 7,923,220 Operating income (loss) 275,978 (445,047) (169,069) 360,592 1,470,972 Nonoperating revenue (expense): Investment and interest income 121, ,133 90,017 93,122 Interest expense (19,319) - (19,319) (32,413) (32,360) Gain on disposal of assets 61,419-61,419 28,472 4,155 Net nonoperating revenue 163, ,233 86,076 64,917 Net income (loss) 439,211 (445,047) (5,836) 446,668 1,535,889 Depreciation on fixed assets acquired with grants, entitlements and shared revenues 3,312-3,312 3,312 3,312 Increase (decrease) in retained earnings 442,523 (445,047) (2,524) 449,980 1,539,201 Retained earnings at beginning of year 4,380,740 4,219,897 8,600,637 8,150,657 6,611,456 Retained earnings at end of year $ 4,823,263 3,774,850 8,598,113 8,600,637 8,150,

5 Schedule 68 Combining Statement of Cash Flows For the fiscal year ended June 30, 2000 with comparative total amounts for 1999 and 1998 Increase (decrease) in cash and cash equivalents: Central Equipment Self- Totals Service insurance Cash flows from operating activities: Cash received from users $ 1,847,536 6,375,620 8,223,156 8,264,137 9,394,468 Cash payments to suppliers for goods and services (813,634) (6,505,997) (7,319,631) (7,119,696) (6,630,521) Cash payments to employees for services (257,932) (207,242) (465,174) (427,799) (466,182) Net cash provided (used) by operating activities 775,970 (337,619) 438, ,642 2,297,765 Cash flows from investing activities - Earnings from invested proceeds 121, ,133 90,017 93,122 Net cash provided by investing activities 121, ,133 90,017 93,122 Cash flows from capital and related financing activities: Cash received from disposal of assets 46,819-46,819 49,368 39,053 Cash paid for the acquisition of capital assets (462,704) - (462,704) (673,281) (493,488) Principal paid on long-term contracts (268,477) - (268,477) (242,678) (240,473) Interest paid on long-term contracts (22,112) - (22,112) (31,575) (32,360) Net cash used for capital and related financing activities (706,474) - (706,474) (898,166) (727,268) Net increase (decrease) in cash and cash equivalents 190,629 (337,619) (146,990) (91,507) 1,663,619 Cash and cash equivalents at beginning of year 2,249,801 5,920,972 8,170,773 8,262,280 6,598,661 Cash and cash equivalents at end of year $ 2,440,430 5,583,353 8,023,783 8,170,773 8,262,280 Reconciliation of operating income to net cash provided (used) by operating activities: Operating income (loss) $ 275,978 (445,047) (169,069) 360,592 1,470,972 Adjustments to reconcile net operating income to net cash provided by operating activities: Depreciation 681,013 2, , , ,429 Change in assets and liabilities: (Increase) decrease in receivable - other 715 (3,943) (3,228) 2,638 3,438 (Increase) decrease in inventories 21,339-21,339 (17,749) (36,138) (Increase) decrease in prepaid expenses - 16,302 16,302 (25,388) 53,011 Increase (decrease) in accounts payable (202,480) (62,674) (265,154) 161,694 90,105 Increase (decrease) in accrued salaries payable 291 2,115 2,406 2,930 (8,500) Increase (decrease) in accrued annual leave and compensation payable (886) 6,242 5,356 4,579 5,021 Increase (decrease) in accrued and other liabilities - 146, ,619 (511,812) (27,573) Total adjustments 499, , , , ,793 Net cash provided(used) by operating activities $ 775,970 (337,619) 438, ,642 2,297,765 Noncash activities from capital and related financing activities: Equipment sale proceeds not received by fiscal year end $ 14,600-14, Equipment purchased by capital lease proceeds ,000 Vehicle contributed from general fixed assets ,500 - $ 14,600-14,600 3, ,

6 Schedule 69 Central Equipment Services Comparative Statements of Revenues, Expenses, and Changes in Retained Earnings For the fiscal years ended June 30, 2000, 1999 and Operating revenues $ 1,846,821 2,025,139 1,942,854 Operating expenses: Salaries and fringe benefits 257, , ,584 Contracted services 6,890 9,113 7,585 Materials and utilities 211, , ,857 Other: Gasoline and oil 297, , ,645 Miscellaneous 115, , , , , ,259 Depreciation 681, , ,926 Total operating expenses 1,570,843 1,610,298 1,550,185 Operating income 275, , ,669 Nonoperating revenue (expense): Investment and interest income 121,133 90,017 93,122 Interest expense (19,319) (32,413) (32,360) Gain on disposal of assets 61,419 28,472 4,155 Net nonoperating revenue 163,233 86,076 64,917 Net income 439, , ,586 Depreciation on fixed assets acquired with grants, entitlement and shared revenues 3,312 3,312 3,312 Increase in retained earnings 442, , ,898 Retained earnings at beginning of year 4,380,740 3,876,511 3,415,613 Retained earnings at end of year $ 4,823,263 4,380,740 3,876,

7 Schedule 70 Central Equipment Services Schedule of Revenues, Expenses and Changes in Retained Earnings Budget (Non-GAAP) and Actual For the fiscal year ended June 30, 2000 Revenues, Adjustment Actual on Variance Final expenses to budgetary budgetary favorable Budget or transfers basis basis (unfavorable) Operating revenues $ 1,920,800 1,846,821-1,846,821 (73,979) Operating expenses: Salaries and fringe benefits 264, , ,337 6,863 Contracted services 11,000 6,890-6,890 4,110 Materials and utilities 210, ,758 6, ,220 (7,720) Other: Gasoline and oil 320, , ,979 22,021 Miscellaneous 141, ,866 3, ,757 21, , ,830 10, ,183 46,917 Depreciation - 681,013 (681,013) - - Capital outlay 1,653, , , ,727 Capital outlay-lease principal payments , ,133 (268,133) Total operating expenses 2,601,073 1,570, ,719 1,861, ,511 Operating income (loss) (680,273) 275,978 (290,719) (14,741) 665,532 Nonoperating revenue (expense): Investment and interest income 68, , ,133 52,233 Interest expense-capital leases - (19,319) - (19,319) (19,319) Gain on disposal of asset - 61,419-61,419 61,419 Net nonoperating revenue 68, , ,233 94,333 Net income (loss) after operating transfer $ (611,373) 439,211 (290,719) 148, ,865 Nonbudgeted depreciation on fixed assets acquired with grants, entitlements and shared revenues 3,312-3,312 Retained earnings at beginning of year 4,380,740-4,380,740 Retained earnings at end of year $ 4,823,263 (290,719) 4,532,

8 Schedule 71 Self-insurance Comparative Statements of Revenues, Expenses, and Changes in Retained Earnings For the fiscal years ended June 30, 2000, 1999 and Operating revenues - Charges for services $ 6,379,563 6,236,360 7,451,338 Operating expenses: Salaries and fringe benefits 215, , ,119 Contract services 221, , ,942 Insurance premiums 5,719,118 5,265,958 4,903,944 Claims 588, , ,427 Other 77,694 82,969 83,100 6,821,843 6,288,393 6,371,532 Depreciation 2,767 2,216 1,503 Total operating expenses 6,824,610 6,290,609 6,373,035 Operating income (loss) (445,047) (54,249) 1,078,303 Retained earnings at beginning of year 4,219,897 4,274,146 3,195,843 Retained earnings at end of year $ 3,774,850 4,219,897 4,274,

9 Schedule 72 Self-insurance Schedule of Revenues, Expenses and Changes in Retained Earnings Budget (Non-GAAP) and Actual For the fiscal year ended June 30, 2000 Revenues, Adjustment Actual on Variance Final expenses to budgetary budgetary favorable Budget or transfers basis basis (unfavorable) Operating revenues $ 5,845,300 6,379,563-6,379, ,263 Operating expenses: Salaries and fringe benefits 252, , ,599 37,001 Contract services 478, ,374 11, , ,987 Insurance premiums 5,150,700 5,719,118 4,450 5,723,568 (572,868) Claims 1,145, ,058 52, , ,048 Other 99,323 77,694 2,186 79,880 19,443 7,126,233 6,821,843 70,779 6,892, ,611 Depreciation - 2,767 (2,767) - - Total operating expenses 7,126,233 6,824,610 68,012 6,892, ,611 Operating income (loss) $ (1,280,933) (445,047) (68,012) (513,059) 767,874 Retained earnings at beginning of year 4,219,897-4,219,897 Retained earnings at end of year $ 3,774,850 (68,012) 3,706,

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