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State of Iowa Annual Financial Report FY 2015 Copyright 2014 City of Dubuque Consent Items # 31. ITEM TITLE: State of Iowa Annual Financial Report FY 2015 SUMMARY: City Manager recommending approval of the City of Dubuque Fiscal Year 2015 Annual Financial Report. SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Approve ATTACHMENTS: Description Type ❑ FY2015 State of Iowa Annual Financial Report-MVM Memo City Manager Memo ❑ Staff Memo Staff Memo ❑ State of Iowa Annual Financial Report FY2015 Supporting Documentation THE CITY OF Dubuque UBE I erica .i Masterpiece on the Mississippi 2007-2012-2013 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Fiscal Year 2015 State of Iowa Annual Financial Report DATE: December 1, 2015 Finance Director Ken TeKippe recommends City Council approval of the City of Dubuque Fiscal Year 2015 Annual Financial Report. I concur with the recommendation and respectfully request Mayor and City Council approval. Mic ael C. Van Milligen MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Teri Goodmann, Assistant City Manager Ken TeKippe, Finance Director THE CITY OF Dubuque DUB E miler Masterpiece on the Mississippi TO: Michael C. Van Milligan, City Manager FROM: Ken TeKippe, Finance Director SUBJECT: Fiscal Year 2015 State of Iowa Annual Financial Report DATE: December 1, 2015 The City of Dubuque's Fiscal Year 2015 Annual Financial Report(AFR) is attached. The AFR is prepared on a cash basis consistent with the annual budget. The City is required to publish the first page of this report before fling the report with the State Auditor's Office. The Dubuque Telegraph Herald published this report on Friday, November 20, 2015. There is no statutory requirement for the City Council to approve the AFR or pass a resolution prior to publication and filing. However, when possible, City Council review and approval of this official document is recommended. The report, with a Certification of Publication, was filed with Mary Mosiman, Auditor of the State pursuant to the Code of Iowa Section 384.22 on December 1, 2015. Should you have any questions on the attached report, please feel free to contact me. Thank you. cc: Jenny Larson, Budget Director Enc (1) Form F-66 FIA-2)1 (8{Icdete) STATE OF IOWA 2015 FINANCIAL REPORT 16203100700000 FISCAL YEAR ENDED Finance Director JUNE 30,2015 50 W 13th St. DUBUQUE Dubuque,IA 52001 CITY OF DUBUQUE IOWA DUE: December 1,2015 (Please correct any error in name,address.and ZIP Code) WHEN Mary Mosiman,CPA COMPLETED, Auditor of State NOTE-The information supplied in this report will be shared by the Iowa State PLEASE State Capitol Building Auditor's Office,the U.S.Census Bureau,various public interest groups,and State RETURN TO Des Moines,IA 50319-0004 and federal agencies. ALLFUNDS Item description Governmental Proprietary Total actual Budget a) (b) c) (d) Revenues and Other Financing Sources Taxes levied on property 24,011,071 24,011,071 24,011,071 Less:Uncollected property taxes-levy year 1,320,825 1,320,825 Net current property taxes 22,690,246 22,690,246 24,011,071 Delinquent property taxes 468 468 TIF revenues 10,398,216 10,398,216 10,622,261 Other city taxes 12,075,937 0 12,075,937 15,092,048 Licenses and permits 4,576,505 27,145 4,603,650 1,287,497 Use of money and property 12,494,506 163,504 12,658,010 11,856,209 Inter ovemmental 25,764,370 7.375,269 33,139,639 66,557,121 Charges for fees and service 6,098,037 27,784,990 33,883,027 37,705,466 Special assessments 133,745 71,691 205,436 806,748 Miscellaneous 2,748,290 6.489,332 9,237,622 10,361,586 Other financing sources 50,948,171 34,750,815 85,698,986 97,970,164 Total revenues and other sources 147,928,491 76,662.746 224,591,237 276,270,171 Expenditures and Other Financing Uses Public safety 27,192,192 0 27,192,192 28,007,628 Public works 11,335,142 0 11,335,142 12,462,539 Health and social services 1,026,482 0 1,026,482 1,149,362 Culture and recreation 10,835,959 0 10,835,959 11,453,573 Community and economic development 13,092,830 0 13,092,830 13,048,129 General government 8,073,113 0 8,073,113 7,824,598 Debt service 8,539,749 0 8,539,749 9,413,416 Capital proiects 24,392,421 0 24,392,421 59,903,247 Total governmental activities expenditures 104.487,888 01 104,487,888 143,262,492 Business type activities 0 55,904,109 55,904,109 118,501,103 Total ALL expenditures 104,487,888 55,904,109 160,391,997 261,763,595 Other financing uses,including transfers out 26,478,017 5,921,885 32,399,902 34,215,421 Total ALL expenditures/And other financing uses 130,965.905 61.825,994 192,791,899 295,979,016 Excess revenues and other sources over (Under)Expenditures/And other financing uses 16.962.5861 14,836.752 31,799,338 -19,708,845 Beginning fund balance July 1,2014 49,149,811 11,189,528 60,339,339 107,292,283 Ending fund balance June 30,2015 66,112,397 26,026,280 92,138,677 87,583,438 Note-These balances do not include $ 2,616,520 held in non-budgeted internal service funds;$ held in Pension Trust Funds; $ held in Private Purpose Trust funds and $ 11,128,162 held in agency funds which were not budgeted and are not available for city operations. Indebtedness at June 30,2015 Amount-Omit cents Indebtedness at June 30,2015 Amount-Omit cents General obligation debt $ 112,065,000 Other long-term debt $ 5.706,340 Revenue debt $ 111,942,970 Short-term debt $ 0 TIF Revenue debt $ 22,181,608 General obligation debt limit $ 193,113.721 CERTIFICATION THE FOREGOING REPORT IS CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF Signature of ci cRrS Date PublishediPosted Nlark(x)one ® nate Publ shed 11-20-2015 ❑ Date Posted Printed na a of city cl Area Code Number Extension Kevin S Fimsta Telephone 563 589-4121 Signature of blaother it offi;la�ame and Tifl Date signed PLEASE PUBLISH THIS PAGE ONLY STATE OF IOWA 16203100700000 2015 Finance Director FINANCIAL REPORT 50 W 13th St. FISCAL YEAR ENDED Dubuque,IA 52001 JUNE 30,2015 CITY OF DUBUQUE ,IOWA ALLFUNDS Item description Governmental Proprietary Total actual Budget (a) (b) (c) (d) Revenues and Other Financing Sources Taxes levied on property 24,011,071 24,011,071 24,011,071 Less:Uncollected property taxes-levy year 1,320,825 1,320,825 0 ................ ................. ................ Net current property taxes 22,690,246 22,690,2461 24,011,071 Delinquent property taxes 468468 0 TIF revenues 10,398,216 10,398,216 10,622,261 .. Other city taxes 12,075,937 0 12,075,937 15,092,048 Licenses and permits 4,576,505 27,145 4,603,650 1,287,497 Use of money and property 12,494,506 163.504 12,658,010 11,856,209 Intergovernmental 25.764,370 7,375,269 33,139,639 66,557,121 Charges for fees and service 6,098,037 27,784,990 33,883,027 37,705,466 Special assessments 133,745 71,691 205,436 806.748 Miscellaneous 2,748,290 6,489,332 9,237,622 10,361,586 Other financing sources 50,948,171 34,750,815 85,698,986 97,970,164 Total revenues and other sources 147,928,491 76,662,746 224,591,237 276,270,171 Expenditures and Other Financing Uses ........ ............. ............ Public safely 27,192,192 0 27,192,192 28,007,628 Public works 11,335,142 0 11,335,142 12,462,539 Health and social services 1,026,482 0 1,026,482 1,149,362 Culture and recreation 10,835,959 0 10,835,959 11,453,573 Community and economic development 13,092,830 0 13,092,830 13,048,129 General government 8,073,113 0 8,073,113 7,824,598 Debt service 8,539,749 0 8,539,749 9,413,416 Capital projects 24,392,421 0 24,392,421 59,903,247 Total governmental activities expenditures 104,487,888 0 104,487,888 143,262,492 - Business type activities 0 55,904,109 55,904,109 118,501,103 Total ALL expenditures 104,487,888 55,904,109 160,391,997 261,763,595 Other financing uses,Including transfers out 26,478,017 5,921,885 32,399,902 34.215,421 Total ALL expenditures/And other financing uses 130,965,905 61,825,994 192,791,899 295,979,016 Excess revenues and other sources over(under) ExpendituresfAnd other financing uses 16.962,586 14,836,752 31,799,338 -19,708,845 Beginning fund balance July 1,2014 49,149,811 11,189,528 60,339,339 107,292,283 Ending fund balance June 30,2015 66,112,397 26.026,280 92,138,677 87,583,438 Note-i nese oa ances do not include $2,616,520 held in non-budgeted internal service funds; s0 held in Pension Trust Funds; $0 held in Private Purpose Trust Funds and $11,128,162 held in agency funds which were not budgeted and are not available for city operations. Indebtedness at June 30,2015 General obligation debt $112,065,000 Other Idng-term debt $5,706,340 Revenue debt $111,942,970 Short-term debt s0 TIF Revenue debt $22,181,608 General Obligation Debt Limit $193,113,721 -------------- N C O �NMvmmr mOO :NMV I()m rmmO�N M d''nmrm D)O NM vlDmrm00 N J Z N N N N N N N N N N co M M M M M M M M M V a f0 mmm_ccD movlmoMNr o mMmoo vmv000m _� Qui 1. r�Nvm ul CN l2vm ul vmr ulmm Z F- O N N V Il N Cl? 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O m m n N N 1 04 M E _ m O O M n r O 11 Z 1 O v V V N (h N O O Z r 0 0 0 N N N M M MOO O r (p aJ(p Q V M M O O p OM N ❑ m m m m m m m m m m m m U7 O m O O O m m m M M M m m m O O(O N m U WU` L-WC7LLW(9LLW(7LLWULLWC7 -W-m- WU' o (o m l0N w mO Mm m(O t0 r(p m m co m m m LL m N N N O (q m 1()m r N M r cT I- c m N I``- L7 N O L Q V N M LL a 0 a` C m y N N U L EJ U C O O a W E o tom -a ❑ a LL c m E `m a N V N O d � W .a U a) U Z W D a 0 o m a) ❑ mCD cn LL. > m 0 LL T a F-m F}- m U (°n' m U) c m v � U O a) U d I N m Z C m ID ❑ CD W ❑ Z W ccQ Y 6 m LL o N C W o N -O C N Z N C W Q o U O O Q Q r ac C LL U I- C N G C C C C r C C C C O m m a) N a) m o a) a) a) J N" a) a) w m C E vE E E E E ma E E UE � E EE r- a) N a) c0 a) m m CO m C m C N O N O N C al C a) a) O Z C O C is c O C N C C C C C C O C Q ¢ Nm m m m o m m m m m ma) a a) m m m c m � m m W a C -O " O - C C O C Q C U C O C C aj c C C N m Z O m N (0 (6 N l0 (0 O (a I (0 m O N c F (n C a C C C C C CC C C C C O .�.,� G O C C C O O m O O v 0 0 7 6 cc m O O -,6.o m O O O O c 6 c O._ O O U 0 cc O z m E d� 3 m � a).0 U d.0 (u'6 mv m m'� m'� `) m.v a°i m `o m'� a).0 a W m ` N m ` 7 m ] N ` V) ` - N L N `O N ` 7 N `- (A L o 3 I N ` a) x I U m m L U L L U L U L? t r U m d L L m r ty/) O iA I Vl N I N N m N I N N y y C W _ C C C C V C C C(D C C m C m C c I ❑ o m - o o o= o 0 0 0 0 o_ m o m o o 0 o F 0 3 c o c o a U a U«LL U a U c a U o a U w a U-a U y LL U a a a U E a U o Y a c U m y ! m o rn u) W C7 a ¢ _ U m cq T�m-2. m 0 N M V'(O(D I�mmOrN M7(Om hmm O N M V(OmrNM O mO O O O O O O O O ON N N N N N N N N N M M M M MZ �"'N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N a N U) m o n m G7 0 N M Q N m n m T O r N M N m m O O N M Q N m n m 0 0 N r0 Q J Z N N N N N N N N N N N N l N N N N N N N N N N N N N N N N N N N N N N N m J N O O O Q O Q n n 2 a� 0 0 0O n O N O 0 NmN O Q r Q GOr n O n m N F- nN O O C� m n Om N m M N N O m n n p VOm m rmMNmN n MOOT 1�Nmmo N N Q O m N r N M M Q p N m M O s{ M n O N n O r O r O O)M N N N O N O N N m e M Q tp m[V Z Z N CP 0 Q v n n O n m N Q 00, m M O m M n OO_ m m m m m m n M W O) m O)O _ N Cl! m O N Cl!N a n m m m v r Q Q N m N m m N Ri q CM N O N O O n Q N N N N N � N m Q N C) O m O m O O m ON N N m N N m a` to yj V a Cco cn QM m N M O O mN n Nm m p MWNrM U noocn v ; Oan 0 n o r r o o. F- 6 Ey o n pi N m 0 c�i M y of a > _ a On m r o r v M n n m m ni M N� °n' tim m F I IL v, Q nrmi M N vm m mo y n Q r m M n r ccm N ° (N�1 amp O O N Cl)O O Q h - O. m M O m m N D7 N r M N m - N M r Q Q n 'a U u`mi v r N N to+I N N N m m N Q � m O m m n l 1 (v0d] LLQ') LLQ'1 ILA� N N N Cl! Q a N U O M M M N N N O F- F- U ID N Q ? W O Cn O m c N O O M m C N L m m �_ n m cQ0 tQD M S] N M Q Q Q m O � Lei 47 V7 N Q Q d'N U O m V ) Om N m m m o p m n c6lm O m m N M M m w C m Q m N Cl N n O m m M Z 41 0 O w Z W Vl Q W W LL T NN Z a N N = n z N Z U O o z O Q U r v v, Z m - 7 J m z N N U 2 C W N 2 C LL M Vyi o c N m w m e V F- O W r_ W y W G O; Z .a F-- m c N U j {°{ m W f• N O W N m m U m G y N O O U m U rt 0 C,E �' mti U z c OZ N c am aI UJ m ❑ m u°i o_ WU E z ¢ m M y ❑ F- -° E m l m O. W Q m U N N m m L f a) m z_ o m auj m r NW a N m U m m m m � LL H w Z m m c .- O. w Z m m ani m�- v m.`L W D w °' m u- p u'i m `m c W c C OUF-'` m Z W = c o W z N m v o 'ax pU w ° m m m m E in(n m O. F^ m = w a ...p v v y C C = m m y u U1 Ul N N m m x 0 b r x a e m m c m.rm.y of 0 an d ° w I C p ` C C .. N C m W I _a - W -O c m c v --a K — N U N N N N N C J J ' J c J J w 0 N E m VI O O 7 mc `mm ¢ ¢ d ¢ EcwE'mmt- ;?F-J c 0 n a U www c W 0 U F" F- o �� ~ Fa- E : ° tv o ut c m a O O 00 c mzmU¢� F- c .m r r- ? F F- c a o U U) cn0 w0 a C C) n MMC, N M Q Nm nmOO�- N M QNm nm O O MMMQQ QQ Q Q QQ QQ NN N N NNN NN N m mmmmmmtOmmn nn d J Z N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N Part III INTERGOVERNMENTAL EXPENDITURES CITY OF DUBUQUE Please report below expenditures made to the State or to other local governments on a reimbursement or cost sharing basis. Include these expenditures in part Il. Enter amount,omit cents. Purpose Amount paid to other Purpose Amount paid local governments to Slate Correction............... 1105 S 0 Highways........1-44 S 0 Health.................... M32 0 All other.........L89 S 0 Highways................ N144 0 Transit subsidies...... 1094 0 Libraries................. N152 0 Police protection...... N162 0 Sewerage.,, N180 0 Sanitation :, NI81 0 All other.................. Iv189 s l Part IV SALARIES AND WAGES Report here the total salaries and wages paid to all employees of your government before deductions of social security, retirement,etc.Include also salaries and wages paid to employees of any utility owned and operated by your government, as well as salaries and wages of municipal employees charged to construction projects. Amount-Omit cents Zoo Total salaries and wages paid..................................................................................................... 3 41.232.170 Part V DEBT OUTSTANDING,ISSUED,AND RETIRED A. Long-term debt Debt during the fiscal year Debt Outstanding JUNE 30,2015 Debt outstanding Interest paid JULY 1, Issued Retired General TIF Revenue Other this year Purpose 2014 obligation revenue (a) b1 (c) d) (e O h 19U 29U 39U 49U 49U 49U 49U 191 1. Water utility S 5.970,000 S 5 275,000 S S $ 5,695.000 S S 218,045 19U 29U 39U 49U 49U 49U 49U 189 2. Sewer utility 19U 29U 39U 49U 49U 49U 192 3. Electric utility 19U 29U 39U 49U 49U 49U 193 a, Gas utility 19U 29U 39U 49U 49U 49U 194 5. Transit-bus 6. Industrial 19T 24T 34T 44T 44T 189 Revemje 7. Mortgage 19T 24T 34T 44T 44T 189 revenue 19U 29U 39U 49U 49U 49U 49U 189 8. TIF revenue 22.799,397 617.788 22,181,608 1,703,404 Other-Specify 19U 29U 39U 49U 49U 49U 49U 189 - 9. GO Bonds 19U 29U 39U 49U 49U 49U 49U 189 10. 84.985.000 26.450,000 6,560,000 104,875.000 3.273.825 IFA 19U 29U 39U 49U 49U 49U 49U 189- 11. 4,500,000 0 4.500.000 135.000 SRF 19U 29U 39U 49U 49U 49U 49U 189 12. 82,924,9491 5,625.021 3,102,000 85,447,970 1.908.614 Loans 19U 29U 39U 49U 49U 49U 49U 189 13. 1.327,690 121.351 1.206.340 14,014 Sales Tax 19U 29U 39U 49U 49U 49U 49U 189 14.Incremental 7.190.000 20.800.000 0 7.1900001 20,800,900 309,638 Total long-term debt 209.697.036 52.875.021 10,676,1391 112,065,000 22.181.6081 111,942,9701 5,706,3401 7.5662.540 B. Short-term debt Amount-Omit cents 61V Outstanding as of JULY 1, 2014 S 0 64V Outstanding as of JUNE 30,2015 S 1 0 Part VI DEBT LIMITATION FOR GENERAL OBLIGATION BONDS Amount-Omit cents Click to visit DOM Valuation Data WEBSITE.City 100%All Property By Class 13 14-15 Actual valuation—Januar/1, 2013 S 3,862,274 416 x.05=S 193,113.721 Part VII CASH AND INVESTMENT ASSETS AS OF JUNE 30,2015 Amount-Omit cents Type of asset Bond and Bond construction Pension/retirement all other funds Total interest funds funds funds funds (a) bt c dl e Cash and investments-Include cash on hand, CD's,time, checking and savings deposits, Federal securities,Federal agency securities, State and local government securities,and all Other Securities. Exclude value Or W01 W31 W61 real property. I $ 56,493.955 1 49.389.404 105.883.359 REMARKS V98 Continuad on next page Page 13 FORM F-66(1.0-2)(6-17.20151