ALL INTERNAL SERVICE FUNDS COMBINING STATEMENT OF NET POSITION December 31, 2013 Negaunee Other Post- Service Center Employment Technology Fund Benefits Fund Total ASSETS Current Assets: Cash and equivalents $ 9,222 $ 1,768,680 $ 883,475 $ 2,661,377 Accounts receivable - - - - Other assets - - - - TOTAL CURRENT ASSETS 9,222 1,768,680 883,475 2,661,377 Noncurrent Assets: Capital Assets: Land and construction in progress - - - - Other capital assets, net of depreciation 130,276-632,616 762,892 TOTAL NONCURRENT ASSETS 130,276-632,616 762,892 TOTAL ASSETS 139,498 1,768,680 1,516,091 3,424,269 LIABILITIES Current Liabilities: Accounts payable 1,914-12,645 14,559 Accrued payroll and related liabilities 1,326 - - 1,326 Other liabilities - - - - TOTAL CURRENT LIABILITIES 3,240-12,645 15,885 Noncurrent Liabilities: Compensated absences - - - - Other post-employment benefits - 8,157,187-8,157,187 TOTAL NONCURRENT LIABILITIES - 8,157,187-8,157,187 TOTAL LIABILITIES 3,240 8,157,187 12,645 8,173,072 DEFERRED INFLOWS OF RESOURCES - - - - TOTAL DEFERRED INFLOWS OF RESOURCES - - - - NET POSITION Net investment in capital assets 130,276-632,616 762,892 Restricted - - - - Unrestricted 5,982 (6,388,507) 870,830 (5,511,695) TOTAL NET POSITION $ 136,258 $ (6,388,507) $ 1,503,446 $ (4,748,803) 145
ALL INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION For the Year Ended December 31, 2013 Negaunee Other Post- Service Center Employment Technology Fund Benefits Fund Total OPERATING REVENUES Charges for services $ 43,896 $ - $ 555,094 $ 598,990 Other - 235,000 2,265 237,265 TOTAL OPERATING REVENUES 43,896 235,000 557,359 836,255 OPERATING EXPENSES Operating expenses 149,625 1,389,606 271,715 1,810,946 Depreciation 24,195-108,657 132,852 TOTAL OPERATING EXPENSES 173,820 1,389,606 380,372 1,943,798 OPERATING INCOME (LOSS) (129,924) (1,154,606) 176,987 (1,107,543) NON-OPERATING (REVENUES) EXPENSES Interest income 42 1,068-1,110 TOTAL NON-OPERATING (REVENUES) EXPENSES 42 1,068-1,110 OTHER FINANCING SOURCES (USES) Transfers in - 345,000-345,000 Transfers (out) - - - - TOTAL OTHER FINANCING SOURCES (USES) - 345,000-345,000 CHANGE IN NET POSITION (129,882) (808,538) 176,987 (761,433) Net position, beginning of year 266,140 (5,579,969) 1,326,459 (3,987,370) NET POSITION, END OF YEAR $ 136,258 $ (6,388,507) $ 1,503,446 $ (4,748,803) 146
ALL INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2013 Negaunee Other Post- Service Center Employment Technology Fund Benefits Fund Total CASH FLOWS FROM OPERATING ACTIVITIES Cash received from State sources $ - $ - $ - $ - Cash received from fees and charges for services 43,896-555,094 598,990 Other revenue - 235,000 2,265 237,265 Cash payments to employees for services (81,899) - (7,112) (89,011) Other operating expenses (68,718) - (258,154) (326,872) NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (106,721) 235,000 292,093 420,372 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in (out) - 345,000-345,000 NET CASH PROVIDED (USED) BY NONCAPITAL FINANCING ACTIVITIES - 345,000-345,000 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Cash payments for capital assets - - (223,483) (223,483) NET CASH PROVIDED (USED) BY CAPITAL AND RELATED FINANCING ACTIVITIES - - (223,483) (223,483) CASH FLOWS FROM INVESTMENT ACTIVITIES Interest income 42 1,068-1,110 NET CASH PROVIDED (USED) BY INVESTMENT ACTIVITIES 42 1,068-1,110 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (106,679) 581,068 68,610 542,999 Cash and equivalents, beginning of year 115,901 1,187,612 814,865 2,118,378 CASH AND EQUIVALENTS, END OF YEAR $ 9,222 $ 1,768,680 $ 883,475 $ 2,661,377 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Operating income (loss) $ (129,924) $ (1,154,606) $ 176,987 $ (1,107,543) Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation 24,195-108,657 132,852 Change in assets and liabilities: (Increase) decrease in accounts receivable - - - - (Increase) decrease in other assets - - - - Increase (decrease) in account payable (1,251) - 6,449 5,198 Increase (decrease) in accrued payroll and related liabilities 259 1,389,606-1,389,865 23,203 1,389,606 115,106 1,527,915 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES $ (106,721) $ 235,000 $ 292,093 $ 420,372 147
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INTERNAL SERVICE FUND - SERVICE CENTER FUND STATEMENT OF NET POSITION December 31, 2013 ASSETS Current Assets: Cash and equivalents $ 9,222 Accounts receivable - Other assets - TOTAL CURRENT ASSETS 9,222 Noncurrent Assets: Capital Assets: Land and construction in progress - Other capital assets, net of depreciation 130,276 TOTAL NONCURRENT ASSETS 130,276 TOTAL ASSETS 139,498 LIABILITIES Current Liabilities: Accounts payable 1,914 Accrued payroll and related liabilities 1,326 Other liabilities - TOTAL CURRENT LIABILITIES 3,240 Noncurrent Liabilities: Compensated absences - TOTAL NONCURRENT LIABILITIES - TOTAL LIABILITIES 3,240 DEFERRED INFLOWS OF RESOURCES - TOTAL DEFERRED INFLOWS OF RESOURCES - NET POSITION Net investment in capital assets 130,276 Restricted - Unrestricted 5,982 TOTAL NET POSITION $ 136,258 149
INTERNAL SERVICE FUND - SERVICE CENTER FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2013 Variance with Final Budget Final Positive Budget Actual (Negative) OPERATING REVENUES Charges for services $ 43,896 $ 43,896 $ - TOTAL OPERATING REVENUES 43,896 43,896 - OPERATING EXPENSES Personnel 82,175 82,158 17 Supplies 5,025 4,570 455 Other services and charges 54,700 54,675 25 Depreciation 25,000 24,195 805 Capital outlay 8,475 8,222 253 TOTAL OPERATING EXPENSES 175,375 173,820 1,555 OPERATING INCOME (LOSS) (131,479) (129,924) 1,555 NON-OPERATING REVENUES (EXPENSES) Interest income 250 42 (208) TOTAL NON-OPERATING REVENUES (EXPENSES) 250 42 (208) INCOME (LOSS) BEFORE TRANSFERS (131,229) (129,882) 1,347 OTHER FINANCING SOURCES (USES) Transfers in - - - Transfers (out) - - - TOTAL OTHER FINANCING SOURCES (USES) - - - CHANGE IN NET POSITION (131,229) (129,882) 1,347 Net position, beginning of year 266,140 266,140 - NET POSITION, END OF YEAR $ 134,911 $ 136,258 $ 1,347 150
INTERNAL SERVICE FUND - OTHER POST-EMPLOYMENT BENEFITS STATEMENT OF NET POSITION December 31, 2013 ASSETS Current Assets: Cash and equivalents $ 1,768,680 Accounts receivable - Other assets - TOTAL CURRENT ASSETS 1,768,680 Noncurrent Assets: Capital Assets: Land and construction in progress - Other capital assets, net of depreciation - TOTAL NONCURRENT ASSETS - TOTAL ASSETS 1,768,680 LIABILITIES Current Liabilities: Accounts payable - Accrued payroll and related liabilities - Other liabilities - TOTAL CURRENT LIABILITIES - Noncurrent Liabilities: Compensated absences - Other post-employment benefits 8,157,187 TOTAL NONCURRENT LIABILITIES 8,157,187 TOTAL LIABILITIES 8,157,187 DEFERRED INFLOWS OF RESOURCES - TOTAL DEFERRED INFLOWS OF RESOURCES - NET POSITION Net investment in capital assets - Restricted - Unrestricted (6,388,507) TOTAL NET POSITION $ (6,388,507) 151
INTERNAL SERVICE FUND - OTHER POST-EMPLOYMENT BENEFITS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2013 Variance with Final Budget Final Positive Budget Actual (Negative) OPERATING REVENUES Other $ - $ 235,000 $ 235,000 TOTAL OPERATING REVENUES - 235,000 235,000 OPERATING EXPENSES Personnel - 1,389,606 (1,389,606) TOTAL OPERATING EXPENSES - 1,389,606 (1,389,606) OPERATING INCOME (LOSS) - (1,154,606) (1,154,606) NON-OPERATING (REVENUES) EXPENSES Interest income - 1,068 1,068 TOTAL NON-OPERATING (REVENUES) EXPENSES - 1,068 1,068 OTHER FINANCING SOURCES (USES) Transfers in 100,000 345,000 245,000 Transfers (out) - - - TOTAL OTHER FINANCING SOURCES (USES) 100,000 345,000 245,000 CHANGE IN NET POSITION 100,000 (808,538) (908,538) Net position, beginning of year (5,579,969) (5,579,969) - NET POSITION, END OF YEAR $ (5,479,969) $ (6,388,507) $ (908,538) 152
INTERNAL SERVICE FUND - TECHNOLOGY FUND STATEMENT OF NET POSITION December 31, 2013 ASSETS Current Assets: Cash and equivalents $ 883,475 Accounts receivable - Other assets - TOTAL CURRENT ASSETS 883,475 Noncurrent Assets: Capital Assets: Land and construction in progress - Other capital assets, net of depreciation 632,616 TOTAL NONCURRENT ASSETS 632,616 TOTAL ASSETS 1,516,091 LIABILITIES Current Liabilities: Accounts payable 12,645 Accrued payroll and related liabilities - Other liabilities - TOTAL CURRENT LIABILITIES 12,645 Noncurrent Liabilities: Compensated absences - TOTAL NONCURRENT LIABILITIES - TOTAL LIABILITIES 12,645 DEFERRED INFLOWS OF RESOURCES - TOTAL DEFERRED INFLOWS OF RESOURCES - NET POSITION Net investment in capital assets 632,616 Restricted - Unrestricted 870,830 TOTAL NET POSITION $ 1,503,446 153
INTERNAL SERVICE FUND - TECHNOLOGY FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2013 Variance with Final Budget Final Positive Budget Actual (Negative) OPERATING REVENUES Charges for services $ 559,523 $ 555,094 $ (4,429) Other - 2,265 2,265 TOTAL OPERATING REVENUES 559,523 557,359 (2,164) OPERATING EXPENSES Personnel 7,900 7,112 788 Supplies 17,650 17,214 436 Other services and charges 270,275 237,699 32,576 Depreciation 131,306 108,657 22,649 Capital outlay 338,975 9,690 329,285 TOTAL OPERATING EXPENSES 766,106 380,372 385,734 OPERATING INCOME(LOSS) BEFORE TRANSFERS (206,583) 176,987 383,570 OTHER FINANCING SOURCES (USES) Transfers in - - - Transfers (out) - - - TOTAL OTHER FINANCING SOURCES (USES) - - - CHANGE IN NET POSITION (206,583) 176,987 383,570 Net position, beginning of year 1,326,459 1,326,459 - NET POSITION, END OF YEAR $ 1,119,876 $ 1,503,446 $ 383,570 154