PROPRIETARY FUND FINANCIAL STATEMENTS

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1 PROPRIETARY FUND FINANCIAL STATEMENTS 35

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3 PROPRIETARY FUND FINANCIAL STATEMENTS - To account for the costs associated with the City's insurance and for funding equipment replacement. 37

4 Statement of Net Position June 30, 2014 Current assets: ASSETS Cash and investments $ 23,415,589 Accounts receivable 18,950 Deposits 165,000 Other assets 79,000 Total current assets 23,678,539 Noncurrent assets: Nondepreciable capital assets 163,841 Depreciable capital assets, net of accumulated depreciation 2,411,594 Total noncurrent assets 2,575,435 Total assets 26,253,974 LIABILITIES Current liabilities: Accounts payable 237,156 Accrued wages and benefits payable 11,804 Workers' compensation claims payable - due within one year 791,596 General liability claims payable - due within one year 518,155 Compensated absences due within one year 14,014 Total current liabilities 1,572,725 Long-term liabilities: Workers' compensation claims payable - due in more than one year 4,774,316 General liability claims payable - due in more than one year 868,179 Settlement payable (Note 13) 3,500,000 Compensated absences due in more than one year 12,326 Total long-term liabilities 9,154,821 Total liabilities 10,727,546 NET POSITION Investment in capital assets 2,575,435 Unrestricted 12,950,993 Total net position $ 15,526,428 38

5 Statement of Revenues, Expenses and Changes in Net Position For the Year Ended June 30, 2014 OPERATING REVENUES: Charges for services $ 4,415,585 Miscellaneous revenue 41,838 Total operating revenues 4,457,423 OPERATING EXPENSES: Salaries and wages 277,231 Contractor services 1,505,182 Supplies 245,249 Claims expense 193,677 Depreciation 382,502 Total operating expenses 2,603,841 OPERATING INCOME 1,853,582 NONOPERATING REVENUES (EXPENSES): Operating grant 3,000 Gain on disposal of capital assets 22,217 Total nonoperating revenues (expenses) 25,217 INCOME BEFORE CONTRIBUTIONS AND TRANSFERS 1,878,799 CONTRIBUTIONS AND TRANSFERS: Transfers in 1,361,905 Total contributions and transfers 1,361,905 Change in net position 3,240,704 NET POSITION: Beginning of the year 12,285,724 End of the year $ 15,526,428 39

6 Statement of Cash Flows For the Year Ended June 30, 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Cash received for services from other funds $ 4,396,635 Cash received from insurance recovery 41,838 Cash payments to suppliers for goods and services (1,635,507) Cash payments to employees for services (270,831) Cash payment for insurance premiums and settlements (1,356,348) Net cash provided by operating activities 1,175,787 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES: Contributions 3,000 Transfers in 1,361,905 Net cash provided by noncapital financing activities 1,364,905 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES: Acquisition of capital assets (1,162,471) Proceeds from sale of capital assets 32,261 Net cash (used in) capital and related financing activities (1,130,210) Net increase in cash and cash equivalents 1,410,482 CASH AND CASH EQUIVALENTS: Beginning of year 22,005,107 End of year $ 23,415,589 40

7 Statement of Cash Flows (Continued) For the year ended June 30, 2014 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: Operating income $ 1,853,582 Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities: Depreciation 382,502 (Increase) Decrease in: Accounts payable (18,950) Other assets 16,489 Increase (Decrease) in: Accounts payable 98,435 Accrued wages and benefits payable 3,898 Workers' compensation claims payable (1,369,334) General liability claims payable 206,663 Compensated absences 2,502 Total adjustments (677,795) Net cash provided by operating activities $ 1,175,787 41