3F0584-06, Forwards City of Kissimmee,Fl Comprehensive Annual Financial Rept FY83, Suppl 2 to 840416 Submittal of Financial Repts Per 10CFR50.71 (B) & Reg Guide 10.1

Forwards City of Kissimmee,Fl Comprehensive Annual Financial Rept FY83, Suppl 2 to 840416 Submittal of Financial Repts Per 10CFR50.71 (B) & Reg Guide 10.1

ML20084N885
Person / Time
Site:	Crystal River
Issue date:	05/10/1984
From:	Baynard P FLORIDA POWER CORP.
To:	Harold Denton NRC OFFICE OF ADMINISTRATION (ADM), Office of Nuclear Reactor Regulation
References
3F0584-06, 3F584-6, NUDOCS 8405170271
Download: ML20084N885 (174)

Text

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May 10,1984 3F0584-06 Mr. H. R. Denton, Director Office of Nuclear Reactor Regulation Attention: Document Control Desk U. 5. Nuclear Regulatory Commission Washington, D.C. 20555

Subject:

Crystal River Unit 3 Docket No. 50-302 Operating License No. DPR-72 Annual Financial Reports for Florida Power Corporation and Participants, Supplement 2 Dear Mr. Denton Florida Power Corporation City of Kissimmee as the second (FPC) herebytosubmits supplement the Aprilthe 1983 (3F0484-IS 16,1984, Annual Financial submittal Rep) ort for of thefinancial reprtsof(previous FPC submittal supplement the aforementioned dated reports April 24,1984,3F0484-19).

in compliance with 10CFR50.71(bThis and comp)letes Regulatory Guide 10.1, " Compilation of Reporting Requirements for Persons Subject to NRC Regulations".

Should you have any questions concerning this submittal, please contact this of fice.

Sincerely, fatsy Y. Baynard,8 %

Assistant to Vice President Nuclear Operations Attachments DVH/ddl o cci Mr. 3. P. O'Reilly g0k Regional Administrator, Region 11 <

Office of Inspection and Enforcement g50 U. 5. Nuclear Regulatory Commission 101 Marietta Street, N.W., Suite 2900 Atlanta, GA 30303 GENERAL OFFICE 3201 ininy. fourth street souin e P.O. som t4042, st. Petersburg Florida 33733 e a13-see sist

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l CITY OF KISSIMMEE, FLORIDA I COMPREHENSIVE l

! ANNUAL FINANCIAL REPORT j

' l FISCAL YEAR ENDED l SEPTEMBER 30,1983  !

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CITY OF KISSIMMEE, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT SEPTEMBER 30,1983 MNANCE DEPARTMENT

'%"28!?k" 2!),"h5th"

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City of Kissimmee, Florida LISTING OF CITY OFFICIALS .

AS OF SEI7FEMBER 30,1983 ELECTED OFFICIALS Mayor-Commissioner George A. Gant, M.D.

Commissioner Bruce R. Van Meter Commissioner Naomi D. Winbush Commissioner Kenneth C. Maher Commissioner James W. Wells, Jr.

APPOINTED OFFICIALS City Manager O. Sam Ackley Asst. City Manager Robert L Berlinsky City Attorney Edward Brinson Directorof Finance John E. Hearn, Acting Director of Planning Lewis L Dismukes Central Services Director James G. Emory Dir, of Public Works & Engineering George W. Mann, Jr.

Police Chief Frank J. Ross Fire Chief Kenneth L Kemp Director of Building and Zoning J. Pat Daugherty Parks and Recreation Director William E. Palmer Electric Utility Director James C. Welch Water and Sewer Utilitics Director Paul D. Egleston Personnel and Labor Relations Dir. Kathleen A. Gaylor Aviation Director George B. Hoagland O

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CITY OF KISSIMMEE FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED SEPTEMBER 30. 1983 TABLE OF CONTENTS INTRODUCTORY SECTION TITLE PACE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 PRINCIPAL CITY OFFICIALS . . . . . . . . . . . . . . . . . . . . . . 111 TABLE OF CONTENTS. . . . . . . . . . . . . . . . .........v-vii LETTER OF TRANSMITTAL. . . . . . . . . . . . . . . . . . . . . . . 1 - 11 ORGANIZATION CHARTS. . . . . . . . . . . . . . . . . . . . . . . . 14 - 15 CERTIFICATE OF CONFORMANCE . . . . . . . . . . . . . . . . . . . . 18 - 19 FINANCIAL SECTION AUDITORS' REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . 25 CENERAL PURPOSE FINANCIAI. STATEMENTS (COMBINED STATEMENTS - OVERVIEW)

Combined Balance Sheet - All Fund Types and ,

Account Groups . . . . . . . . . . . . . . . . . . . . . . . . 30 - 33 Combined Statement of Revenues, Expendituren and Changes in Fund Balances - All Covernmental Fund Types and Expendable Trust Funds . . . . . . . . . . . . . . . 34 - 35 l

Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual -

General and Special Revenue Funds. . . ............ 36 - 37 Combined Statement of Revenues, Expenses and Changes in Retained Farnings/ Fund Balances - All Proprietary Fund Types and Similar Trust Funds . . . . . . . . . . . . . . . 38 Combined Statement of Changes in Financini Position -

All Proprietary Fund Types and Similar Trust Funds . ..... 39 - 40 Notes to Financial Statements. . . . . . . . . . . . . . .... 41 - 64 COMBINING STATEMENTS - BY FUND TYPE Covernmental Fund Types:

Cenoral Fund -

Balance Sheet. . . . . . . . . . . . . . . . . . . . . . . . . 70 Statement of Changes in Fund Balance . . . . . . . . . . . . . 71 Statement of Revenues and Other Financing Sources - Budget and Actual. . . . . . . . . . . 72 - 73 Statement of Expenditures and Transfers -

Budget and Actual. . . . . . . . . . . . . . . . . . . . . 74 - 75

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Specict Rsv:nue Funds -

Combining Balcnco Sheet. .. .. ..... ......... 78 - 79

• Combining Statement of Revenues, Expendituren and Changen in Fund Halances . . ............. 80 - 81 Statements of Revenuen. Expenditures and Changes in Fund Balance - Budget and Actuni -

Utility Tax Fund . . . . . . . . . . . . . . . . . . . . . 82 Federn1 Revenue Sharing Fund . . . . . ..........83 Capital Improvement Fund . . . . . . . . . . . . . . . . . 84 Vehicle Replacement Fund . . . . . . . . . . . . . . . . . 85 Recreation impact Fund . . . . . . . . . . . . . . . . . . 86 Debt Service Funda -

Combining Balance Sheet. . . . . . . . . . . . . . . . . . . . 88 Combining Statement of Revenues Expendituren and Changen in Fund Balances . . . . . . . . . . . . . . . . . . 89 Capital Projects Funds -

Combining Balance Sheet. . . . ... . . . . . . . . . . . . . 92 Combining Statement of Revenuen, Fxpenditures and Changes in Fund Balancen ,. .................93 Specini Annennment Funds -

Combining Balance Sheet. .. . . . . . . . . . . . . . . . . . 96 Combining Statement of Revenues, Expenditures and Changen in Fund Balancen . .......... . . . . . . . 97 Proprietary Fund Typen:

Enterprine Funds -

Combining Balance Sheet. . . . . . . . . . . . . . . . . . 102 - 103 Combining Statement of Revenues, Expenses and Changes in Retnined Earnings . . . ............. 104 Combining Statement of Changen in Financint Ponition . . . . 105 - 106 Internal Service Funds -

Combining Balance Sheet. .. . .. . . . . . . . . . . . . 108 - 109 Combining Statement of Revenuen, Expennen and Changen in Retained Earninga ... ............. 110 Combining Statement of Changen in Financint Ponition . . . .. til Fiduciary Fund TypcN1 Trust and Agency Funds -

Combining Balance Sheet - All Trunt and Agency Funds . . . 116 - 117 Statement of Revenues, Expendituren and Changen in Fund Balance - Expendable Trust Fund . . . . . . . . . . . . 118 Combining Statement of Revenuca Expennen and Changen in Fund Balancen - All Nonexpendable and Pension Trunt Fundn. ........... 119 Combining Statement of Changen in Financial Position -

All Nonexpendable and Pension Trunt Funds. .........  !?O l Combining Statement of Changes in Annetn and I Liabilitics - All Agency Funda . .............. 121 Cenurni Fixed Annetn Account Group Schedule of Cuneral Fixed Auncts . .. ............. 124 Scheduln of General Fixed Assets - Ily Function and Activity . . . . . .................... 125 Schedule of Changen in Cencrat Fixed Anncta - By Function and Activity. .............. 126

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SCHEDULES Sch:dato of Fix:d A::sto cnd Dopreciction -

Electric Utility Fund. . . . . . . . . . . . . . . . . . . . . . 129 Schedule of Fixed Assets and Deprecintion -

Water and Sewer Fund . . . . . . . . . . . . . . . . . . . . . . 130 Schedule of Fixed Annota and Depreciation -

Airport Fund . . . . . . . . . . . . . . . . . . . . . . . . . . 131 Schedule of Fixed Annotn and Depreciation -

Solid Wanto Fund . . . . . . . . . . . . . . . . . . . . . . . . 132 Schedule of Fixed Annets and Depreciation -

Central Servicen Fund. . . . . . . . . . . . . . . . . . . . . . 133 STATISTICAL SECTION STATISTICAL INFolutATION Table 1 - General Fund - Expendituren by Department -

Last Ten Fincal Yearn . . . . . . . . . . . . . . 138 = 139 Table 2 - Concral Fund - Revenunn by Sourco - I.nnt Ten Finen! Years. . ................. 140 Table 3 - Property Tax 1.evien. Tax Collections and Annenned Valuations - Laat Ten Fincal Years. . . . . . . . . . 141 Table 4 - Schedule of Property Tax Raton - All Overlapping Covernments - Last Ten Fincal Yearn . . . . . . . . . 142 Table S - Schedule of Special Annonament Collectionn -

Lant Ten Fincal Yearn . . . .. .. .. .. ... . . 143 Table 6 - Computation of Legnt Debt Margin. . . . . . . . . . . . 144 Table 7 - Computation of Direct and Overlapping Debt. . . . . .. 145 Table 8 - Ratio of Convral bonded Debt to Annonned i Value and Not Bonded Debt por Capita -

Last Ten Fincal Yearn . . . . . . . . . . . .... . 146 Table 9 - Ratio of Annunt Dcht Service Expendituren for General Bonded Debt to Total Convral Expenditures - LnNC Ten FinCn1 Years. . . . . .... !47 Table 10 - Scheduto of Flcetric Revenue Bond Coverage -

La s t Ten F i n c a l Yea r n . . . . . . . . . . . . . . . . 148

• fable 11 - Schedule of Water and Sewer Revenue Mond Coverage - 1nnt Ten Finent Yearn. . . . ... ... . 149  ;

Table 12 - Scheduto of Altport Revenue Rond Coverage - '

laat Ten Finent Yearn . . . . . ... . .. . .... 150 Tablo 13 - Table of Denographic Statintien . . . .. ... . .. . 151 Table 14 - Tablan of Property Valuon, Construction and Hank Deponttn - Onceoln County. . . . . . . . . . 152 Table 15 - Schedule of Major Taxpayorn . . ... . . ....... 153 Table 16 - Hincellaneoun Statintien! Data. .... . . .. ... . 154 Tablo 17 - Utility Enterprise Funda Stattutical Datn . .. .... ISS Table 18 - Schedule of Incurancu in Force *. . ... ... .. . . IS6 Hackground . . . . . . . . . . . . . . . . . . . . . . . . . . . 157 - 159 t

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i LETTER OF TRANSMITTAL

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February 15, 1984 Mr. O. Sam Ackley City Manager i City of Kissionee l Kissimmee. Florida

Dear Mr. Ackley:

The Comprehensive Annual Financial Report of the City of Kissimmee.

Florida, for the fiscal year ended September 30 1983. is submitted here-with pursuant to Section 5-1-6 of the City Charter. Florida Statutes Chapter 166.241 (4) and Chapter 10.500 of the Rules of the Auditor General of the State of Florida. This Comprehensive Annual Financial Report was prepared by the staff of the Finance Department and, therefore, responsi-bility for both the accuracy of the data and the completeness and fairness of the presentation. including all disclosures, rests with the City. We believe the data, as prenented, in accurate in all material aspectag that it in presented in a manner designed to fairly met forth the financial position and renulta of activity of ito various fundet and that all discionures necessary to enable the read 6rn to gain the maximum under-standing of the City's financial activity have been included.

As required by Hection 5-1-6 of the City Charter and Florida Statuten Chapter 166.241 (4), the Comprehensive Annual Financial Report has been examined by a firm of independent certified public accountants and their unqualified opinion in included an part of thin report.

ACC0tfNTING AYSTrH AND ntfDCFTARY CONTR0!.

The City's accounting records for General, tippe lal Revenue'. Capital Projects, Debt Service. Special Amnessmenta and certain Trunt and Agency Funda are maintained on a modified accrust bania with revenues being s recognised when they become measurable and available, while expnditures are recorded at the time liabilirten are incurred. Accounting records for l the Fnterprise. Internal f;orvice and certain Trust and Agency Funds are f' maintained on a full nectual bania. Fnterprise Funds are charged for adminintrativa, accounting and data proconning services provided by various departments in other funds. This in done with a view toward making these l funda nolf-mupporting and to provide a basis for comparinon with  ;

\ inventor-owned public utt11 tion. The Internal Service Funda provide services of a support nature on a city-wide banin for which user departmente are charged nervice leva, i

Mr. O. Sam Ackley, City' Manager February- 15, 1984 Page Two In' developing and altering the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance

.regarding:

1. The safeguarding of assets against loss from unauthorized use or disposition; and

2. The reliability of financial records for preparing financial statements-and maintaining accountability for assets.

The concept of reasonable assurance recognizes that:

1.' The cost.of a control should not exceed the benefits likely to be derived; and

2. The evaluation of costs and benefits requires estimates and judgments by management.

All internal control evaluations occur within the above framework. We

, believe that theTCity'.s internal accounting controls adequately ' safeguard assets and provide reasonable assurance of proper recording of financial

. transactions.

Budgetary control ~is maintained at the sub-object level by the encumbrance of estimated purchase amourts. Budgetary reports are issued and reviewed

? - monthly as outlined in the City Charter, Sections 5-1-4 and 5-1-6.

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encumbrances are reported as reservations of fund balance at September 30, 1983.

1 THE REPORTING ENTITY AND ITS SERVICES The.. funds and entities related to the City of Kissimmee, included in our

.. Comprehensive Annual Financial Report, are controlled by or dependent on

the City. - Determination -of " controlled by or dependent on" is based on criteria outlined in'NCGA statements. .The basic criterion for inclusion is the _ exercise of ' oversight . responsibility by the City Commission.

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, ;. Based on

this criterion. the various funds and account groups shown in the table of-

-contents are . included in this - report. The report, together with the

- accounting and ' budgeting systems, has . been designed to conform to the Es.tandards . set forth by the ~ National Council ~ on Governmental Accounting, American- Institute of Certified Public Accountants and the Financial

-' Accounting Standards - Board.s Fund structure ~ has also been designed to

- comply.with the legal requir~ements of the various' revenue bond resolutions.

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Mr.-0. Sr.a Ackley, City Manager

. Fab ru;,ry 15, 1984~

Page Three This report is arranged in the following sections:

Section I: . Introductory Section Section'II: Financial Section -

Part 1: General Purpose Financial Statements Part 2: Combining' Statements - By Fund Type Part 3: Supporting Schedules

'Section III: Stati tical Section The 'Fina - tal . Saction of the report contains. combined, combining and balanced account groups which present fairly the financial position and results of-. operations for the fiscal year. These statements and schedules are divided into three parts:

1. -General Purpose ' Financial Statements, which display financial data for the City as a whole;

2. - Combining Sta'tements - By Fund Type, which present data for homogeneous funds; and

3. Supporting Schedules, which present supplementary data not necessary for fair presentation.

The Statistical Section presents detailed historical information which will be beneficial to the reader in understanding the City's growth . and its future potential ~..

The City of Kissimmee provides the full range of municipal services contem-  ;

plated by - status or character. These include police, fire, sanitation, social services, public--improvements, planning, zoning, recreational services and general administrative services. In addition, public ,

utilities (electric -' water, sewerage and water pollution -control) and

'aviational. activities are provided.

On September 13, 1983, the Municipal Finance Officers Association of the  :

United . States _ and Canada (MFOA) awarded a Certificate of Conformance in Financial Reporting to . the City: of Kissimmee for its - Annual Financial l Report for the fiscal year ended September 30, 1982.

In order to be awarded a Certificate of Conformance, a governmental unit

must publish an easily readable and efficiently organized Comprehensive  ;

yAnnual ~ Financial Report, the contents of which conform to industry standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements.

1 A Certificate.of Conformance is valid for a period of one year only. We <

.believe our current report continues to conform to the Certificate of i Conformance Program requirements and we are submitting it to MFOA to determine its eligibility for another certificate. j l

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i Mr. O. San Ackley, City Manrger Fcb rutry 15, 1984 Page Four CENERAL FUND Licenses and permits increased 44.4% due to continued growth in construction. Federal, state and local grants increased 9.1% due to receipt of a $17,748 grant from the Small Business Administration to provide temporary employment in City parks.

State shared taxes and licenses increased 310.6% due to implementation of the 1/2C Local Government Sales Tax - which returns to local governments 1/2C on each sale within the county - divided among cities and counties on a population based formula.

Fines and forfeitures increased 76.5% due to increased revenues from court cases and implementation of a fine for Code violations. Other revenue increased 31.4% as a result of a legal settlement.

Property taxes decreased 14.2% as a result of a .9 mill reduction in the tax rate (from 5.061 mills in 1982 to 4.074 mills in 1983) required by the implementation of the 1/2C Local. Government Sales Tax. Property taxes as a percent of total General Fund revenue decreased from 21.3% in 1982 to 16.2%

in 1983.

Franchise tax revenue dropped 49.1%~due to the franchise fees for garbage service being accounted for in the Solid Waste Fund in fiscal year 1982/83.

The county road and bridge tax (50% of ad valorem collected within municipal boundaries is returned to the cities) was severely reduced by the county (from .102 mill to .0001 mill) resulting in a substantial drop in this source.

Other charges for services decreased 17.6% due to some revenue reclassifications from charges for services to miscellaneous revenue. All other revenue sources show minor changes from the previous year.

Presented below is a comparison of the current fiscal year revenues and '

other financing sources, as compared to the last fiscal year:

REVENUE AND OTHER INCREASE FINANCING SOURCES F/Y 1983 F/Y 1982 (DECREASE)  % CHANGE Property taxes $ 1,081,966 $ 1,260,915 $ (178,949) (14.2)%

Franchise taxes 59,693 117,388 (57.695) (49.1)%

Licenses and permits 311.433 215,656 95,777 44.4 %

Federal, state and local grants 17,748 16.263 1,485 9.1 %

State Revenue Sharing 538,301 534,776 3,525 .7 % ]

Shared taxes and licenses 706,003 171,930 534,073 310.6 %

County. road and bridge tax 216 13,554 (13,338) (98.4)%

Charges to other funds 373,838 370,004

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3,834 1.0 % )

Other charges-for services 98,245 119,232 (20,987) (17.6)%

Fines and forfeitures 110,692 62,701 47,991 76.5 %

County ambulance service 361,100 309,161 16.8 %

Interest earned 179,630 1)2,982 51,919 6,648 3.8 %

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Other revenue 100,013 76,131 23,88 31.4 %

Fund transfers 2,747,558 2,472,018 275,540 11.1 %

TOTALS $ 6.686.436 $ 5.912.731 $ 773.705 13.1 %

Mr. O. Sea Ackley, City Mantgsr Fibtutry 15, 1984 Page Five Assessed property valuations of $274,168,047 for tax year 1983 represent a 9.1% increase over the $251,340,685 valuations for 1982. Current tax collections were 96.5% of the total tax 1cvy.

General government expenditures increased 31.4% due to the Public Safety

dispatch function being combined and placed under the City Manager.

Fund transfers increased substantially due to a transfer of $571,930 to the Capital Improvement Fund.

Parks and Recreation expenditures decreased 20.8% because the remodeling/ expansion program instituted in fiscal year 1981/82 was completed.

All other functions show minor changes compared with 1982.

Expenditures for the fiscal year of the various functions within the General Fund, as compared with those of the previous year, are presented as follows:

INCREASE FUNCTION F/Y 1983 F/Y 1982 (DECREASE)  % CHANGE General Government $ 1,672,093 $ 1,272,556 $ 399,537 31.4 %

Public Safety 2,644,176 2.656,180 (12,004) (.5)%

Public Works 983,267 914,907 68,360 7.5 %

Culture / Recreation 365,522 461,305 (95,783) (20.8)%

Fund transfers 653,256 36,308 616,948 797.4 %

TOTALS $ 6.318.314 $ 5.341.256 $ 977.058 18.3 %

The following table shows the General Fund totals by major line items:

INCREASE CLASSIFICATION F/Y 1983 F/Y 1982 (DECREASE)  % CEANGE Salaries and wages $ 3,418,109 $ 3,251,542 $ 166.567 5.1 %

Employee benefits 705,451 548,451 157,000 28.6 %

Operating expenses 1,396,308 1,018,738 377,570 37.1 %

General insurance 51,901 50,387 1,514 3.0 %

Charges from service organizations 30,966 27,171 3,795 14.0 %

Capital outlay 62,323 340,807 (278,484) (81.7)%

Debt service -

26,794 (26,794) (100.0)%

Transfers 653,256 77,366 575,890 744.4 %

TOTALS $ 6.318.314 $ 5.341.256 $ 977.058 18.3 %

Mrf.O. S=a Ackley, City Mannger February 15, 1984-IPage Six

% OF TOTAL EXPENDITURES INCREASE CLASSIFICATION- F/Y 1983 F/Y 1982 (DECREASE)

Salaries ~and wages 54.1 % 61.0 % (6.9)%

Employee benefits 11.2 10.0 1.2 %

Operating expenses 22.1 19.0 (1.4)%

General insurance .8 1.0 (.2)%

' Charges from service organizations .5 .5 -

Capital. outlay 1.0 6.5 (5.5)%

. Debt service -

.5 (.5)%

Transfers 10.3 1.5 13.3 %

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TOTALS 100.0 % 100.0 % - %

Unreserved fund balance increased 32.6% over fiscal year 1981/82 due to

= implementation.of a. hiring and capital purchasing freeze implemented during the first half of fiscal year 1982/83.

-SPECIAL REVENUE FUNDS Special' Revenue Funds account for revenue from specific revenue sources which are -legally . restricted ' for ~ specified purposes. Utility taxes are

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pledged primarily for the' . various obligations of the water and sewer utility ' systems. Federal Revenue' Sharing ' funds are obligated to fund those specific items soLdesignated in the City's annual budget.- Recreation '

' impact fees are designated for recreational improvements throughout the

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~ City'and are levied on each new'living unit. The Capital Improvement Fund J was established to provide monies - for , major capital items benefiting nonproprietary funds. The Vehicle Replacement - Fund was established to provide a system of vehicle fleet replacement. '

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A. comparison of revenues for the -last. three fiscal years is presented in the following table:

1983 1982 1981

, Utility-tax . . $ 791.944 $ 587,981 $ 596,158 )

Federal Revenue Sharing 258,979 260,006 231,364 Capital improvements- 84,897- 87,567 181,078 q

. Vehicle replacement 27,312 15,644 3,383 J

-Recreation impact-fees. 87,290 25,569 14,337'

. TOTALS $ 1.250.422 $ 976.767 $ 1.026.320

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Mr.IO. S:s Acklsy, Cit'y M:nzgar Fabrunry 15, 1984 Page Seven CAPITAL PROJECTS FUNDS The City's various capital projects programs are concentrated on two areas, namely, downtown beautification and the City Hall expansion.

The beautification of Kissimmee's downtown commenced in 1978 through the creation ~of a special district governed by a board appointed by the City Commission. Although the Commission appoints the board, the disbursement of funds is controlled by the appointed Downtown Development Board.

Revenues from a special tax are used to fund the issuance of bonds which, in turn, fund various beautification projects.

The City Hall expansion program was designed to increase the workable area by approximately 15,000 sq. ft. It has enabled all City departments to be located in the same building for the first time in recent history and eliminated the need for rental of office space. The project was financed through a FmHA loan of ;$500,000 at 5% for 40 years, as well as budgeted funds . of ~ $250,000 in the 1981 and 1982. budget yer.rs . For an additional $30,000 was appropriated to provide furnishings for thel 1983, expanded facility.. i i

PAVING ASSESSMENTS FUND

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~The Paving Assessments Fund accounts for assessments levied to finance public improvements, specifically benefiting the properties against which the assessments are levied.

During 1983, five streets began making assessment payments and three more were expected shortly after year-end.

GENERAL FIXED ASSETS The general fixed assets of the City of Kissimmee are those fixed assets used in the performance of general governmental functions and exclude the fixed assets of the Proprietary Funds. As of September 30, 1983, the general fixed assets of the City totaled $4,298,594. This amount represents the original cost of the assets and is, therefore, considerably less than their present value. Depreciation of general fixed assets is not recognized in the City's accounting system, f' ELECTRIC UTILITY FUND Electric Utility Fund operating revenues increased $4,777,964 or 24.0% over fiscal year- 1981/82. . This increase is attributable to a rate increase of approximately 20% during the year. Operating expenses increased 19.5% due to increased fuel and purchased power cost.

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Mr. O. S n Ackisy, City M:nagar Febru:ry 15, 1984 Page Eight

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~A $47.5.~million bond issue- was sold in February, 1982 to finance construction ' of a ~ combined cycic gcs turbine electric generating plant.

These bonds were-refunded with a $71.5 million issue sold in January, 1983, resulting in an extraordinary loss of J13,386,161, but providing a savings of $4,338,896 over the life of the isane, The '$71.5 million issue is MBIA insured and carries a rating of AAA f rom Standard and Poor's.

Comparative data for the last three fiscal years is presented in the following tabulation:

1983 1982 1981 Total revenue (operating and

. _ interest) $26,350,130 $21,239,270 $20,487,748 Income before extraordinary item 2,953,745 1,984,999 2,845,585 Income available for debt service 8,528,206 6,101,475 6,013,277

' Maximum debt coverage 6,461,022 6,461,022 1,385,657 Debt coverage (income available for debt service divided by maximum future debt service) 1.32 x .94 x 4.34 x Cash and investments (unrestricted) $ 3,190,443 $ 633,645 $ 2,529,356

' Current ratio 3.10 to 1 2,14 to 1 3.6 to 1 WATER AND SEWER FUND Gross operating revenue increased $295,293 or 18.9% over 1982 due to a  ;

substantial' increase in-sewer rates.

l Operating expenses increased $490,682 or 32.2% as a result of inflow and infiltration problems. The City is actively pursuing a solution to this problem.

Utilizing the proceeds from the $2.6 million in bonds sold in fiscal year t1981/82, the City has . installed three new treatment facilities at the Martin Street Plant to upgrade existing treatment and provide capacity for future customers. Briley-Wild & Associates, Consulting Engineers, have completed a ~ rate study and a five-year capital improvements program which will place the City in compliance with regulatory requirements on disposal -

of treated ef fluent. In May, 1983, the Commission approved an ordinance )

which establishes an annual 6% rate increase effective October 1 of each j year unless official action is taken to prohibit it. Additionally, the J City was awarded $450,000 'in Department of Environmental Regulation funds for construction ~ and operation of a pilot project utilizing water hyacinths in the . treatment process. This project is scheduled to be completed in fiscal year 1984/85. A unique program for allocating existing -]

and future' sewer capacity has been developed and installed.

Mr. O. S a Ackley,' City Manager Fsbrutry 15, 1984, Page Nine

. Comparative data for .the last three fiscal years is illustrated in the following table:

1983 1982 1981 Total revenue (operating, interest and tap fees) $ 2,729,589 $ 2.183,431 $ 2,244,417 Net income . .

97,942 331,002 647,144 Income available for debt service 871,724 724,701 919,256 Maximum future debt service

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671,641 671,641 372,448 Debt coverage.(income available for debt . service divided by-maximum future debt service) 1.30 x 1.08 x 2.5 x Cash and investments (unrestricted) $ 5.680,265 $ 2,769,641 $ 2,332,909 Current ratio 3.6 to 1 68.5 to 1 66.6 to 1 AIRPORT FUND Airport operations experienced an increase in re'renue of $25,591 or 23.8%

over 1982. Operating expenses increased $33,329 or 29.3% over the previous year. While this fund continues to show a net loss, it has been reduced by

.$4,738 or 48.9% from 1982. This is a result of the City's aggressive pursuit of tenants for leased terminal space, industrial sites and hangars.

A. master development plan for the airport property has been completed.

Development of the proposed Airport Industrial Park is expected to begin soon, which should substantially increase airport revenue to reverse the past trend of consistent net losses.

Comparative data for the last three fiscal years is presented in the folloting tabulation:

1983 1982 1981 Total operating revenue' $ 133,201 $ 107,610 $ 84,569 Net loss (4,947) (9.685) (1,353)

Income available for debt service 36,350 31,871- 44,821 Maximum future debt service 33,450 33,450 33,450

~ Debt coverage-(income available for debt service divided by maximum future debt service) 1.09 x .95 x 1.34 x Cash and investments (unrestricted) $ 43,226 $ 59,229 $ 53,206

-Current ratio 4.90 to 1 2.17 to 1 6.61 to 1 INTERNAL SERVICE FUNDS In' fiscal year 1982/83, the City established a new internal service fund.

In response to consistent increases in health care costs, the City opted to partially self-insure and to provide funding through a combination of charges to employees and charges to various funds for the employers' portion. The plan calls for the City to bear individual expenses up to a specific stop loss of $25,000 with a plan stop loss coverage beyond $1,039

.per employee per year.

Mr. O. Sam Acklsy, City Manager Fsbruary 15, 1984-Page Ten The Central Services Fund represents an expansion of the former Data Processing Internal Service Fund and accounts for services of a city-wide nature, including building maintenance, central garage and data processing, as well as a central warehouse and printing / graphics division. Costs are charged to the user funds.

TRUST AND AGENCY FUNDS Trust and - Agency Funds are nonbudgetary funds established to account for assets.' held by.the City as trustee for individuals, private organizations and other-governmental units and/or funds.

A fund has . been created for the Section 8 Ilousing Assistance Payments Program. The City acts as a conduit for the Federal Government in dis-bursement of the monies. The program has regulations governing the type of disbursements to be made and prcviding for periodic independent audits.

A fund was also created to account for revenues received from the supple-mentary care program at the municipal cemetery. This program is designed to accept advance payments from cemetery customers for the maintenance of cemetery plots. During 1983, revenues totaled $3,698.

CASH MANAGEMENT On August 1, 1982, the City. entered into a two-year depository contract with'a local banking institution after having competitively bid its banking i services. This contract guarantees that all funds deposited in the City's  !

account above $44,500 will earn interest at the same Fed Funds rate that l the banking institution receives. -The City uses a pooled cash concept for i all funds under its control. The cash management program involves a theory

- of keeping principal and earnings free from risk, maintaining reasonable liquidity to meet obligations and maximizing return through the use of a competitive rate comparison from various investment sources. The City invests in those instruments collateralized as required by the State of

-Florida.-

A summary of interest earned on the City's investments is shown in the following table:

INTEREST AVERAGE RATE FISCAL YEAR ' EARNED

• OF RETURN

• 1983. $ 1,919,619 10.9 %

1982 2,014.536 12.6 %

1981 2,362,373 14.8 %

1980 1,070,483 8.8 % 1

'1979 858,995 9.3 % )

1978 970,587 8.4 %

1977 397,005' 5.0 %

• Does not include Pension Fund, which is administered by an investment firm.

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Mr. O. S~2 Acklsy, City M:nigsr FIbru ry 15, 1984 Page Eleven DEBT ADMINISTRATION y

Overlapping debt is that portion of the total Osceola County general obligation debt allocated to Kissimmee's residents for purposes of ascer-taining the total debt each resident is responsible for paying. At

-September 30, 1983, total overlapping debt allocated to the City was

$570,881 or $31.16 per resident. It should be noted that the City has no ad valorem supported general obligation indebtedness of its own.

Bond ratings for the three revenue bond issues are as follows:

MOODY'S STANDARD & POOR'S Electric Refunding Revenue Bonds Series 1983 -

AAA Water and Sewer Revenue Bonds 1981 A AAA Water and Sewer Revenue Bonds 1977 A AAA On October 1, 1982, the City sold a $500,000 bond to FmHA for the purpose of constructing an addition to the present City Hall facility. Principal and interest are payable annually on September 1, 1983 through 2021 at the rate of 5%.

ACKNOWLEDGDIENTS The preparation of this report could not have proceeded smoothly without the diligent efforts of the entire Finance Department staff. A very special note of appreciation is due to John Hearn, Chief Accountant, whose hard work is largely responsible for the preparation of this report.

Respectfully submitted, f 8 e a ,o 0 Aag-i ean C. Bennett, Finance Director e

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i ORGANIZATION CHARTS l

• FINANCE CITY OF DEPARTMENT KISSIMMEE, FLORIDA cIn MANAGER ORGANIZATION CHART -

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FINANCE  !

DIRECTOR 1 i

h ACCOUNTING PURCHASING RISK MANAGEMENT '

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CITY COMMISSION ADVISORY CITY BOARDS ATTORNEY CITY MANAGER CITY OF ORGANIZATION KISSIMMEE, FLORIDA CHART ASSISTANT CITY MANAGER I

AIRPORT FINANCE FIRE SERVICES INSPECTION ELECTRIC PUBLIC WORKS & PERSONNEL & PARKS &

UTILITIES ENGINEERING LABOR RELATIONS RECREATION 1

p PLANNING WATER & SEWER UTILITIES

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l CERTIFICATE OF CONFORMANCE f

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i "The . Municipal Finance Officers Association of the United ,

States and Canada (MFOA) awarded a Certificate of Conformance I in Financial Reporting to the City of Kissimmee for our Annual i Financial Report for the fiscal year ended September 30, 1982.

In order to be awarded a Certificate of Conformance, a govern-mental unit must publish an easily readable and efficiently organized Comprehensive Annual Financial Report, whose contents conform t o, industry standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Conformance is valid for a period of one year only. We believe our current report continues to conform to Certificate of Conformance program. requirements, and we are submitting it to MFOA to determine its eligibility for another certificate."

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Certificate of Conformance in Financial Reporting Presented to City of Kissimmee, Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30,1982 A Certificate of Conformance in Financial Reporting is presented by the Municipal Finance Officers Association of the United States and Canada to govemmental units and public employee retirement systems whose comprehensive annual financial reports (CAFR's) are judged to substantially conform to program standard's.

p =  ::: 1 President i, eMl2' . 6 Executive Director 19.

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FINANCIAL SECTION i

This Section Contains the Following Subsections:

AUDITOR'S REPORT GENERAL PURPOSE FINANCIAL STATEW:ENTS COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS AND SCHEDULES SCHEDULES 4

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AUDITORS' REPORT i

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M g e m aaco.

Cemfwl Puhbc Accountana To the Honorable Mayor, City Commissioners and City Manager Citv of Kissimmee, Florida AUDITORS' REPORT We have examined the combined financial statements of the City of Kissimmee, Florida, as of and for the year c'ded September 30, 1983, as listed in the table of contents. Our examin.:: ion was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.

In our opinion, the combined financial statements referred to above present fairly the financial position of the City of Kissimmee, Florida at September 30, 1983, and the results of its operations and the changes in financial position of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

Our examination was made for the purpose of forming an opinion on the combined financial statements taken as a whole. The combining, individual fund, and account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the combined financial statements of the City of Kissimmee, Florida. The information has been subjected to the auditing procedures applied in the examination of the combined financial statements and, in our opinion, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. The information listed as statistical information has not been subjected to the auditing procedures applied in the examination of the combined financial statements and, accordingly, we express no opinion.

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Tampa, Florida November 1, 1983 25.

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GENERAL PURPOSE FINANCIAL STATEMENTS (Combined Statements-Overview)

These basic financial statements provide a summary overview of the financial position of all funds and account groups as well as the operating results of all funds. They also serve as an introduction to the more detailed statements and schedules that follow in the next subsection.

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E CITY OF KIS$119 TEE. FLORIDA COMBINED BALANCE $NEET ALL FUND TYPES AND ACCOUNT Grot'PS SEPTEMBER 30, 1983 COVER!OttNTAL Ft'ND TYPES SPECIAL DEST CAPITAL GENERAL RRYt:fUE SERVICE PROJECTS  !

ASSETS '

Equity in pooled cook and investeente 4 1.677.374 4 996.337 8 37.190 $ 70.719 Receivables - (met of allowances for uncollectibles)I Accrued interest . . . .

Accounto (Note 2) 44.241 - - -

Tamee . . . .

Special aseosomente (Note 2)

. . . . t Notes receivable . . . .

Due free other severnmente 16.370 60.137 -

19.994 -

Due free other funde (Note 4) 64.701 . . . [

Inventertes - at cost 16.000 = = -

Prepaid espeesee . . . .

Advance te other funde . . . .

Restricted assetal linking funde = cash and tavesteente - - - -

Construction funde = cash and investeente = = = .

Bond asset replacement funde = cash and investmeate . . . .

Accrued interest receivable - = . -

Customer depeette = cash and investmente = = = =

t.and (Note 3) . . . -

But1dinge (Note 3) = = . .

Equiposet (Note 3) = = . .

Improvemente other than butidinge (Note 3) * * * =

Plant and equipment - net (Note 3) = = = =

Construction in progrees (Note 3) - - - -

Inventory - nuclear fuel - (not) = - . -

Send toeve costs . (not) = = = =

Mester Plan = (net) = = = =

t.and held for future use - - = =

Lease acquiettien ceste = = = =

Amount avellable for debt service in the Debt Service Fund = = = =

Amount to be provided for debt service = = = =

TOTAL ASSETS MM@i 90 717 i'

See accompanytag notes to financial statseente.

30.

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PAGE 1 0F 2 i

FIDUCIARY PROPatSTAST PUND TYPES FUND TYPt3 ACCOUNT CR0t'PS vuissnAL TOTALS SP8CIAL SNTttPRISE INTERNAL TRUST AND CINERAL LONG-TERM (NIHORANDUM ONLT) i 48888805NT9 (Note 12) SERVICE ActNCY FIXED ASSSTS Ots? 1983 1982

$ 135.404 8 8.913.934 8 84.144 $ 5.624.108 $ - $ -

8 17.565.456 8 10.272.002 10.712 = = 106.865 . . 117.577 104.814 ,

2.717.403 1.380 - . 2.763.024 1.9%.299  ;

- - = . - - -

2.402 267.518 - - - . -

267.518 293.128

- 142.399 - - - . 142.399 -

- 16,608 - . . - 113.333 86.190

- - = = . . 66.701- 197.319 957.252 35.110 - - . 1.029.070 1.136.310

- - 23.642 -

. - 23.642 41.479

. . - - . . . 2.000 8.269.903 - = = =

8.269.903 12.547.837

. 3.021.035- . . - - 3.021.03's . 16.693.138 i'

- 2.058.551 . . - . 2.054.551 2.042.100 9.770 . - - . 9.770 -

727.048 - - = = 727.048 678.326

- . - - 359.700 - 359.700 359.700

- - = = 1.804.845 - 1.804.845 1.057.935 L

- . = = 1.761.133 - 1.761.133 1.713.597 '

- - - . 347.901 - 367.901 373.404

. 44.313.203 192.124 - = = 44.505.327 31.071.150

- 20.794.452 100.837 - 4.975 -

20.900.444 19.221.715

- 696.935 = . . . 696.935 621.446

. 1.149.631 = . - - 1.149.631 1.766.210 .

- 43.921 = . - - 43.921 34.242

. 490.840 - - - -

490.440 609.7&O i

- 3.t46 - - - - 3.144 3.255 l - = . - - 37.190 37.190 46.63 I

- . . - - see 830 see,430 ses 75,5 g gg,gg 3,,gagan s &u.est win on 1 id&M41 JE 23 ELEJM Ebmd3 i

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' CITY OF KIS$D2 TEE, FLORIDA : d

COMBINED BALANCE SHEET ALI, FUND TYPES AND ACCOUNT GROUPS

' SEPTEMBER 30, 1983 COVERmtENTAL FUND TYPES

m. SPECIAL DEBT CAPITAL CENERAL REVENUE SERVICE PROJECTS

t. 1 LIABILITIES AND FUND EQUITY : .

' LIABILITIES Accounts payable $ 57.570 $ 34.480 $ -

$ 4 Accrued liabilities 4 109.465 - - -

Deposits payable (Note 18) 20.788 - - -

Due to other funds (Note 4)- - - - -

Advance from other funds - - - -

( Contracts /retainages payable - - - -

. Accrued interest payable ,

Restricted asset liabilities:

Accounts payable- -

~ Accrued service deposit interest - - - -

Contracts /retainages payable- -

Customer deposits - - - -

Revenue bonde payable - current - - - -

. Accrued revenue bond interest - - - -

Revenue bonds payable - (net) (Notes 5. 6,'7. 8 & 11)

~Ceneral obligation bonds payable (Notes 9. 10 & 11) '- - - -

Om _-Bond anticipation notes payable (Notes 10 & 11)' - - - -

l 1 Deferred revenue - - - -

Obligations under capital leases (Note 14E) -

Due to other governments 3.900 - - -

. TOTAL LIABILITIES $ 191.723 $ 34,480 $ - $ 'A COP TINCENCIES AND COMMIINENTS (Note 14)

FUND EQUITY . ,

Investment in general fixed assets $ -

Contributed capital (Note 20):

Contribution by governments - - - -

' Contribution by private sources - - - -

Contribution by other. funds ' - - - -

Retained earnings:

Reserved for revenue bond retirement -- - - -

Reserved for bond asset replacement - - - -

Unreserved (Note 17) - - - -

Fund balances:

Reserved for encumbrances 51.736 103.619 - -

. Reserved for advances to other funds - - - -

Reserved for employees' retirement systems - - - -

Unreserved -

Designated for debt servica .

37.190 -

Designated for subsequent years' expenditures 33.116 295.024 - -

Undesignated 1.544.519 623.371 -

90.713

$ 1.629.371 $ 1.022.014 $

TOTAL TUND EQUITY 37,190 $ 90.713 TOTAL LIABILITIES AND FUND EQUITY $ 1.821.094 -$ 1.0 % .494 $ 17.190 $ 90.717

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see accompanying notes to financial statements.

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PAGE 2 0F 2 FIDUCLARY PROPRIETARY Fl!180 TYPES Pt'ND TYPES ACCOUNT GROUPS GENERAL TOTALS SPECIAL ENTERPRISE IlfrERNAL TRUST AND -GENERAL LONG-TERM OGNORANDUM ONLY)

ASSESSNENTS (Note 12)' SERVICE AGENCY FIXED ASSETS DEBT 1983 1982

$ 1.469.626 $ 63.688 $ 4.856 $ -

$ 1.630.224 $ 1.309.450 144.486 10.208 50,192 - -

314.351 436.262 2.020.649 - - - -

2.041.437 260,821 66.701 - -

66.701 197.519 2.000 29.470 - - - - -

29.470 55.650

-- -- - - - - 19,574

-- 93.585 -- - - -

93.585 19.762 8.707 - - - -

8.707 8.874

- .-1,651.962 - - - -

1.651.962 2.333.610 718.341 - - - -

718.341 717.104 15.000 - - - -

15.000 15.000 5.345- -

5.345 3.929.419 69.936.164 - - - -

69.936.164 54.255.501

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880.900 880.900 399.000' 479.500 219.782 270.123 -

30.925 - -

520.830 323.459 83.213 - - -

46.120 129.333 187.890 39.947 - -

43.847 40.686

$ 249.252 $ 76.417.201 $ 73.896 $ 192.621 $ - $ 927.020 $ 78.086.197 $ 64.991.081

'$ $ 4.298.594 $

S -

$ 4.298.594 $ 4.307.702-966.508 28.388 - - -

994.896 883.051 3.531.379 - - - - -

3.531.379 1.972.843 110.262 235.445 - - -

345.707 140.993 8.237.366 - - - -

8.237.366 7.180.077 2.030.071 - - - -

2.030.071 2.042.100 5.073.444 97.228 - - -

5.170.672 16.456.090 155.355 69.299 2.000 5.505.296 - -

5.505.296 4.434.153

- - - - - - 37,190 46.635

- - - - - - 328,140 -

184.386 - -

62.118 - - 2,505.107 2.201.432 t 184.386 $ 19.949.030 $ 361.061 $ 5.567.414 $ 4.298.594 $ -

$ 33.139.773 $ 39.736.375 433.638 M$ 434.957 $ 5.760.035 $ 4.298.594 $ 9?7.020 g $104.727.456 f

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CITY OF KISSIMMEE, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS FOR Tile YEAR ENDED SEPTEMBER 30, 1983 GOVERNMENTAL FUND SPECIAL DEBT GENERAL REVENUE SERVICE REVENUES Taxes $ 1,141,659 $ 869,209 $ 17,477 Licenses and permits 311,433 - -

Intergovernmental revenues 1,623,368 244,897 -

Charges for services 472,083 - -

Fines and forfeitures 110,692 - -

Miscellaneous revenue 279,643 136,316 7,250 Special assessments - - -

TOTAT. REVENUES $ 3,938,878 $ 1,250,422 $ 24,727 EXPENDITURES -

General Government (Note 21) $ 1,270,921 $ 75,613 $ -

Public Safety 2,946,081 150,009 -

Public Works 983,267 49,520 -

Culture / Recreation 464,789 28,415 -

Welfare - - -

Debt Service - - 62,790 Capital Outlay - - -

TOTAL EXPENDITURES $ 5,663,058 $ 303,557 $ 62,790 EXCESS OF REVENUES OVER (UNDER)

EXPENDITURES $ (1,726,180) $ 946,865 $ (38,063)

OTHER FINANCING SOURCES (USES)

Proceeds from bond anticipation notes $ -

Operating transfers in 2,747,558 758,430 51,963 Operating transfers out (653,256) (1,412,712) (23,345)

TOTAL OTilER FINANCING SOURCES (USES) $ 2,094,302 $ (654,282) $ 28,618 EXCESS OF REVENUES AND OTHER SOURCES OVER

, (UNDER) EXPENDITURES AND OTHER USES $ 368,122 $ 292,583 $ (9,445)

FUND BALANCES AT BEGINNING OF YEAR -

(deficit) 1,261,249 729,431 46,635 FUND BALANCES AT END OF YEAR $ 1.629.371 $ 1.022.014 $ 37.190 See accompanying notes to financial statements, l

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FIDUCIARY TYPES >

FUND TYPES TOTALS CAPITAL . :SPECIAL- EXPENDABLE (MEMORANDUM ONLY)

PROJECTS ASSESSMENTS TRUSTS 1983 1982

$ - $ 2,028,345 $ 2,005,314 311.433' 215,656

-19,998 - 351,100 2,239,363 1,658,739

<- - - 472,083 498,505

- - - 110,692 62,701 8,975- 40,882 - 473,066 398,353

- 99,778 - 99,778 58,903

$- 28,973 $- 140,660 $ 351,100 $ 5,734,760 $ 4,898,171

$L 655 $ -

$ - $ 1,347,189 $ 1,314,955 395 - 3,096,485 2,722.148

- - - 1,032,787 1,049,860

- - - 493,204 474,517

- -- 345,907 345,907 349,403

. - - 62,790 33,480 47,742 197,065 - 244,807 822,638

$ 48,397 $ 197,460 $ 345,907 $ 6,623,169 $ 6,767,001

-$~ (19,424) $ (56,800) -$ 5,193 $ (888,409) $ (1,868,830)

$ 20,500 $' -

$ 20,500 $ 479,500 101,999 - - 3,659,950 2,602,307

- - - (2,089,313) (1,171,830)

$ 122,499 $ -

$ - $ 1,591,137 $ 1,909,977

$ ,103,075 $ (56,800)- $ 5,1931 $ 702.728 $ 41,147 (12,362) 241,186 30,442 2,296,581 2,255,434

( -$ 90.713 $ 184.386- $ 35.635 $ 2.999.309 $ 2.296.581

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CITY OF KISSIMMEE. FLORIDA COMBINED STATDiENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CENERAL AND SPECIAL REVENUE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 CENERAL FUND f ADJUSIMENT ACTUAL ON VARIANCE I TO BUDGETARY BUDGETARY BUDGET FAVORABLE i ACTUAL BASIS BASIS (REVISED) (UNTAVORABLE)

REVENUES Taxes $ 1,141.659 $ - $ 1,141,659 $ 1.194,239 $ (52.580)

Licenses and permits M1,e33 -

311.433 222.300 89,133 Intergovernmental revenues 1,623.368 -

1,623,368 1.400,821 222.547 Charges for services 472.083 - 472,083 409.438 62,645 Fines and forfeitures 110,692 -

110.692 62,500 48,192 Miscellaneous revenue 279,643 - 279,643 225.662 53.981 TOTAL REVENUES $ 3,938,878 $ - $ 3,938,878 $ 3.514,960 $ 423,918 EXPENDITURES General Government (Note 21) $ 1.270.921 $ 401.172 $ 1.672.093 $ 1,916,794 $ 244,701 Public Safety 2,946,081 (301,905) 2.644.176 2.905,593 261,417 Public Works 983,267 -

983.267 1,015,682 32.415 Culture / Recreation 464.789 (99,267) 365,522 393,503 2$,381 TOTAL EXPENDITURES $ 5,665,058 $ - S 5,665,058 $ 6.231.972 $ 566,914 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES S (1,726,180) $ - $ (1,726,180) $ (2,717,012) $ 990.832 OTHER FINANCING SOURCES (USES) operating transfers in 3 2.747.558 $ - $ 2,747,558 $ 2,737.614 $ 9,944 Operating transfers out (653,256) - (653,256) (656,293) 3,037 TOTAL OTHER FINANCING SOURCES (USES) $ 2,094,302 $ - $ 2,094,302 $ 2,081,321 $ 12,981 EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER)

EXPENDITURES AND OTHER LGES $ 368.122 $ -

$ 368.122 $ (635,691) $ 1,003.813 FUND BALANCES AT BEGINNING OF YEAR 1,261.249 - 1,261.249 1,261,249 -

FUND BALANCES AT END OF YEAR $ 1.629.371 $ -

$ 1.629.371 $ 625.558 $ 1.003.813 See accompanying notes to financial statements.

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TOTALS SPECIAL REVENUE (MEMORANDUM ONLY)

VARIANCE ACTUAL ON VARIANCE BUDGET FAVORABLE BUDGETARY BUDCET FAV0itABLE ACTUAL (REVISED) (UNFAVOR)2LE) BASIS (REVISED) (UNFAVORABLE)

$ 869,209 $ 790,000 $ 79.209 $ 2,010.868 3 1.984.239 $ 26.629 311.433 222.300 89.133 244,897 290.000 (45,103) 1,868.265 1.690.821 177.444 472.083 409.438 62.645

' - - - 110,692 62,500 48.192 136,316 125,175 11,141 415,959 350,837 65,122

$ 1,250,422 S 1,205,175 $ 45,247 $ 5.189.300 $ 4,720,135 $ 469;165

.$ 75,613 $ 258.671 $ 183,058 $ 1.747,706 $ 2.175.465 $ 427.759 150,009 480.096 330.087 2.794.185 3.385.689 591.504 49,520 273,375 223.855 1,032,787 1.289.057 256,270 28,415 70,300 41,885 393,937 464,203 70,266

$ 303,557 $ 1,082,442 $ 778,885 $ 5,968,615 $ 7,314,414 $ t,345,799

$ 946,865 $ 122,733 $ 824,132 $ (779.315) $ (2,594,279) $ t,814.964

$ 758.430 $ 686.500 $ 71.930 $ 3.505.988 $ 3.424.114 $ 81,874 (1,412,712) (1,407,768) (4,944) (2,065,968) (2,064,061) (1,907)

$ (654,282) $ (721,268) $ 66.986 $ t.440,020 $ t 360,053 $ 79,967 i

$ 292.583 $ (598.535) $ 891.118 $ 660.705 $ (1,234,226) $ 1.894.931 i

729.431 729,431 - 1,990,680 1,990,680 -

$ 1.022.014 $ 130.896 $ 891.118 . 9 2.651.385 9 756.454 $ 1.894.931 V_

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CITY OF KISSIMMEE. FLORIDA COMBINED STATEMENT OF REVENUES. EXPENSES AND CHANCES IN RETAINED EARNINGS / FUND BALANCES ALL PROPRIETARY FWD TYPES AND SIMILAR TRUST FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 FROPRIETAAY FIDUCIARY FUND TYPES FUND TYPES NON- PENSION TOTALS ENTERPRISE INTERNAL EXPENDABLE TRUST (MDt0RANDUM ONLY)

(Note 12) SERVICE TRUST (Note 13) 1983 1982 OPERATINC REVENUES Charges for services $ 27.064.340 $ 651.941 $ -

$ 27.716.181 $ 22.075.146 Interest - -

3.198 602.805 606.003 375.083 contrioutions -

299.616 500 657.793 957.909 491.844 Miscellaneous - 480 -

- 480 -

TOTAL OPERATING REVENUES $ 27.064,340 $ 951,937 $ 3.698 $ 1,260.598 $ 29,280,573 $ 22,942,073 OPERATING EXPENSES Power generation $ 5.718.460 $ -

$ 5.718.460 $ 4.073.675 Purchased power 9.486.552 - - -

9.486.552 8.217.056 Transmission 345.633 - - -

345.633 250.299 Distribution 1.165.890 - - -

1.165.890 1.029.740 Operations and maintenance 1.281.896 502.708 - -

1.784.604 1.243.870 Administrative and general 2.336.621 69.898 - -

2.406.519 2,104.852 Benefit payments -

289.538 -

107.284 396.822 87.714 Refunds of contributions - - -

25.533 25.533 17.421 Miscellaneous costs - - -

56.638 56.638 47.313 Depreciation 1,283.358 20.121 - - 1,303,479 1,190,272 TOTAL OPERATING EXPENSES $ 21,618,410 $ 882.265 $ - $ 189.455 $ 22,690,130 $ 18,262.212 OPERATING INCOME $ 5.445.930 $ 69,672 $ 3.698 $ 1,071,143 $ 6,590,443 $ 4.679.861 NONOPFRATING REVENUES (EXPENSES)

Interest revenue $ 2.398.722 $ 15.143 $ -

$ 2.413.865 $ 1.877.261 Interest / amortization expense (3,357.813) - - -

(3.357.813) (2.190.816)

Tap fees 131.684 - - -

131.684 70.634 Loss on disposition of fixed assets -

(2.313) - -

(2.313) (155)

Operating grants 15.615 - - - 15,615 -

TOTAL NONOPERATING .

REVENUES (EXPENSES) $ (811,792) $ 12,830 $ - $ - $ (798,962) $ (243,076)

INCOME BETORE OPERATING TRANSTERS AND EXTRA-ORDINARY ITEM $ 4.634.138 $ 82,502 $ 3,698 $ 1,071.143 $ 5.791.481 $ 4,436.785 OPERATING TRANSFERS Operating transfers in $ 29.363 $ -

$ 29.363 $ 19.523 operating transfers out (1,600,000) - - - (1,600,000) (1,450,000)

TOTAL OPERATING TRANSFERS $ (1.570,637) $ - $ - $ - $ (1,570.637) $ (t.430,477)

INCOME BEFORE EXTRA-ORDINARY ITEM $ 3,063,501 $ 82,502 $ 3.698 $ 1.071.143 $ 4.220,844 $ 3.006.308 EXTRAORDINARY ITEM Gain (loss) on advance refunding of debt (Note 16) (13.386.161) - - - (13,386.161) 8.529,765 NET INCOME (1.055) $(10.322.660) $ 82.502 $ 3.698 $ 1.071.143 $ (9.165.317) $ 11.536.073 RETAINED EARNINGS / FUND

• BALANCES AT BEGINNING OF l YEAR 25,663.541 14,726 22.785 4,434.153 30,135,205 18,599.132 )

RETAINED EARNINGS / FUND

, BALANCES AT F.ND OF YEAR $ 15.140.891 $ 97.228 5 26.483 $ 5.505.296 $ 20.969.868 $ 30.135.205 See accompanying notes to financial statements.

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38.

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CITY OF KISSIMMEE. FLORIDA PACE 1 0F 2 COMBINED STATDfENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS FOR THE YEAR ENDED SEPTEMBER 30. 1983 PROPRIETARY FIDUCIARY FUND TYPES FUND TYPES NON- PENSION TOTALS ENTERPRISE INTERNAL EXPENDABLE TRUST (MEMORANDUM ONLY)

(Note 12) SERVICE TRUST (Note 13) 1983 1982 SOURCES OF WORKING CAPITAL From operationes Income before extra-ordinary itee $ 3.063.501 $ 82.502 $ 3.698 $ 1.071.143 $ 4.220.844 $ 3.006.308 Add: Expenses not creating current liabilities or using current assets -

depreciation and amortization 1,591,361 20.121 - - 1.611,482 1.283,393 WORKING CAPITAL PROVIDED FROM OPERATIONS EXCLUSIVE OF EXTRAORDINARY ITEM $ 4.654.862 $ 102.623 $ 3.698 $ 1.071.143 $ 5.832.326 $ 4.289.701 Extraordinary ires not providing working capital (Note 16) (13,386.161) - - -

(13.386.161) 8.529,765

$ (8.731.299) $ 102.623 $ 3.698 $ 1.071.143 $ (7.553.835) $ 12.819.466 Disposal of property and equipment net of accumulated depreciation 15.026 2.662 - -

17.688 62.039 Proceeds from locs-term debt issuance 61.662.688 - - - 613662.688 48.674.255 Contributioes (Note 20) 1.672.244 202.851 - - 1.875.095 383.859 Decrease in restricted assets 17.875.094 - - -

17.875.094 47.500 Increase in liabilities payable from restricted assets 17.713 - - - 17.713 6.145.468 Decrease in other assets 689.528 - - - 689,528 -

TOTAL SOURCES OF WORKING CAPITAL $ 73.200.994 $ 308,136 $ 3.698 $ 1.071.143 $ 74,583,971 $ 68.132.587 APPLICATIONS OF WORKING CAPITAL Acquisition af fixed assets $ 18.243.575 $ 262.054 8 - $ - $ 18.505.629 $ 22.779.453 Retirement of Iong-term debt 46.269.358 - - -

46.269.358 25.570.658 Increase in restricted assets - - - - - 19.577.466 Increase in other assets 61.721 - - - 61.721 835.177 Decrease in contributions - - - - - 97.833 Decrease in liabilities payable from restricted assets 4.548.542 - - - 4,548,542 72.635 TOTAL APPLICATIONS OF WCPKINC CAPITAL $ 69,123.196 $ 262,054 $ - $ - $ 69.385.250 $ 68,933,222 NET INCREASE (L CREASE)

IN WORKING CAPITAL 9 4.077.798 9 46.082 9 3.A99 9 1.071.141 9 5.198.721 9 (900.635)

See accompanying notes to financial statements.

39.

k j

CITY OF KISSIMMEE. TLORIDA PACE 2 0F 2 COMBINED STATEMENT OF CliANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS FOR THE YEAR ENDED SETTEMBER 30 1983 FROFRIEIARY FIDUCIARY FUND TYPES FUND TYPES ~

NON- PENSION TOTALS ENTERPRISE INTERNAL EXPENDABLE TRUST (MEMORANDUM ONLY)

(Note 12) SERVICE TRUST (Note 13) 1983 1982 COMPONENT ELEMENTS OF NET INCREASE (DECREASE) IN WORKING CAPITAL Equity in pooled cash and investments S 5.451.419 $ $9.966 $ 3.698 $ -

3 5.515.083 $ (1.449.742)

Restricted cash and investments - - - 1.055.064 1.055.064 696.340 Accounts receivable 721.104 - - -

721.104 (11,792)

Accrued interest receivable (4.670) - -

16.079 11.409 68.368 Notes receivable 142.399 - - - 142.399 -

Due from other gove rnment s 16.608 - - - 16,608 -

Inventory (167.773) 55.810 - -

(111.963) 223.387 Prepaid expenses (14.668) - - - (14.668) (24.135)

Accounts payable (228.945) (63.229) - - (292.174) (202.784)

Accrued liabilities 49.707 (6.465) - -

43.242 24.884 Deposits payable (1.760.528) - - -

(1.760.528) 56.183 Obligations under capital lease (3.649) - - -

(3.649) (37.360)

Revenues collected in advance (244.039) - - -

(244.039) (23.151)

Due to other funds I20,833 - - - 120,833 (120,831)

NET INCREASE (DECREASE),

IN WORKING CAPITAL 9 4.071.7e9 3 46,092 3 3,A99 9 1.071.143 $ 3.109.721 9 (900.633) i l

l See accompanying notes to financial statemente.

l l

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40.

CITY OF KISSIMMEE, FLORIDA

NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983

~

1.

SUMMARY

OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies: of the City of Kissimmee conform to generally [

accepted accounting principles as applicable to-governments. The following l

1s a summary of the more significant policies, i A. Entity Definition:

I The City provides a full range of municipal services, including police and fire protection, public works activities, park and i recreation activities .and general administrative services. In j ' addition, the City operates four enterprise activities:

l electric, water and sewer, airport and solid waste collection.

, The Municipal Development Board has also been included in the

! City's financial statements. The City's oversight responsibility is clearly defined by the Charter:

F (1) City Commission makes board appointments; l (2) City Commission approves budget; and-

. (3) City Conunission approves projects.

l B. Organization of Accounts:

The City of Kissinunee organizes its accounts on the basis of funds and account groups, each of which is considered a separate ,

accounting entity. The various funds are grouped, in the financial statements in this report, into eight generic fund types and three broad fund categories as follows -

i

! Governmental Fund Types:

. General Fund - accounts for financial resources, which are not required to be accounted for in another fund.

[

. Special Revenue Funds - account for the proceeds of I I specific revenue sources that are restricted by law or  ;

administrative action to expenditure for specific purposes.

. -Capital Projects Funds - account for financial resources ' segregated for the acquisition of major capital facilities.

. Debt Service Funds - account for the accumulation of resources for, and the payment of, interest and principal on general long-term debt.

. Special Assessment Funds - account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied, f

41. ,

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 Proprietary Fund Types:

. Enterprise Funds - account for operations that are financed and operated in a manner similar to private business enterprises.

. Internal Service Funds - account for the financing of goods or services provided by one department to other departments of the City or to other governments, on a cost-reimbursement basis.

Fiduciary Fund Types:

. Trust and Agency Funds - account for the assets held by a governmental unit as a trustee or agent for indivi-duals, private organizations and/or other governmental units.

Account Groups:

. General Fixed Assets - accounts for all fixed assets of the city, except fixed assets of Proprietary Funds and certain improvements other than buildings, including

' roads, bridges, curbs and gutters, streets and side-walks, and drainage systems.

. General Long-Term Debt - accounts for the outstanding principal balances on any general or special obligation bonds of the city.

Measurement Focus:

Governmental Fund Types - General, Special Revenue, Debt Service, Capital Projects and Special Assessment Funds are accounted for on a " spending" or " financial flow" measurement focus. Accord-ingly, the reported undesignated fund balances provide an indication of available, spendable or appropriable resources.

Proprietary Fund Types - Enterprise Funds and Internal Service Funds are accounted for on a cost of services or " capital maintenance" measurement focus. Accordingly, all assets and liabilities are included on their balance sheets, and the reported fund equity (total reported assets less total reported liabilities) provides an indication of the economic net worth of the fund. Operating statements for Proprietary Fund Types (on an income determination measurement focus) report increases (revenues) and decreases (expenses) in total economic net worth.

Accounting for the Electric Utility Fund is in conformity with the requirements prescribed by the Florida Public Service Commission and the Federal Energy Regulatory Commission.

Fiduciary Fund Types - Agency and Expendable Trust Funds are accounted for like Governmental Fund Types; and Nonexpendable Trust Funds and Pension Trust Funds are accounted for like Proprietary Fund Types.

42.

L

CITY OF KISSIMMEE, FLORIDA

~ NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 Fixed assets, which are not used in Proprietary or Fiduciary Fund operations, are accounted for in a separate self-balancing General Fixed Assets Account Group. Long-term debts , which are not intended to be financed through Proprietary, Fiduciary or Special Assessment Funds, are accounted for in a separate self-balaacing General Long-Term Debt Account Group.

C. Basis of Accounting:

Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. .

The modified accrual basis of accounting is followed by all Governmental Fund Types, Expendable Trust Funds and Agency Funds.

Under the modified accrual basis, expenditures other than

-unmatured interest on general long-term debt are recognized at the time liabilities are incurred, if measurable. Revenues are recognized in the . accounting period when they become measurable and available. Revenues which are susceptible to accrual are as follows -

Federal and State Revenue Sharing Interest Income State and Local Grants Proprietary, Nonexpendable Trust Funds and Pension Trust Funds are traintained on an accrual basis with revenues being recognized when earned and expenses recognized when incurred.

D. Budgets and Budgetary Accounting:

The City follows these procedures in establishing the budgetary data reflected in the financial statements -

(1) The City Manager submits to the City Commission' a proposed operating budget for the ensuing fiscal year.

The operating budget includes proposed expenditures and the sources of receipts to finance them.

(2) Public hearings are conducted to obtain taxpayer comments.

(3) The budget is approved by the Commission and becomes the basis for the millage levied by the Commission.

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43.

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CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 (4) The City Manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures of any fund must be approved by the City Commission. Expendi-tures may not exceed legal appropriations at the departmental level. Appropriations lapse at year-end.

(5) Formal budgetary integration is employed as a manage-ment control device during the year for the General Fund and Special Revenue Funds. Formal budgetary integration is not employed for Debt Service Funds because effective budgetary control is alternatively achieved through debt repayment provisions. Formal budgetary integration is also not employed for Special Assessment and Capital Projects Funds because projects are approved individually.

(6) Budgets for the General and Special Revenue Funds are adopted on a basis consistent with generally accepted accounting principles, except certain expenditures related to nongeneral government activities which are budgeted under the City Manager for control purposes.

(7) Budgeted amounts are as originally adopted, or as amerded in accordance with City ordinance.

E. Equity in Pooled Cash and Investments:

The City of Kissimmec, for accounting and investment purposes, j maintains a pooled cash and investments account for all City j funds. This gives the City the ability to invest large amounts l

of idle cash for short periods of time and to maximize earning potential. The " equity in pooled cash and investments"

( represents the amount owned by each fund of the City.

l F. Receivables:

Utility (electric, water, sewer and utility taxes) operating' revenues are generally recognized on the basis of cycle billings rendered monthly. The cycle with the meter reading date closest i to September 30 is selected as the cutoff for accrual purposes.

The City does not accrue revenues for , services delivered during I the fiscal year that have not been read by September 30.

G. Investments:

l Investments are recorded at cost, which approximates market, j Adjustments are made to cost, for any premium or discount, which is amortized over the life of the investment.

) -

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! 44.

CITY OF KISSIMMEE, FLORIDA -

NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 H. Inventories:

Supplies and fossil fuel inventories are stated at the lower of cost (determined on the first-in, first-out method) or market.

Inventories in the governmental funds are accounted for by the consumption method (determined on the first-in, first-out method), wherein inventories are charged as expenditures when used.

The effect of the first-in, first-out method is to flow costs through the statement of revenues and expenses in the order in which they are purchased and assign a balance sheet valuation more nearly at current replacement value.

I. Taxes Receivable:

Taxes receivable are measurable, but not availabic as of the end of the fiscal year and thus are shown as deferred revenue. The

deferred revenue will be recognized as revenue in the fiscal year l that it becomes available.

l J. Fixed Assets:

l Fixed assets purchased in the Covernmental Fund Types are l recorded as expenditures at the time of purchase. Such assets are capitalized at cost in the General Fixed Assets Account Croup, except for certain improvements other than buildings.

including roads, bridges, curbs and gutters, streets- and sidewalks and drainage systems. Gifts or contributions are recorded in the general fixed assets at fair market value et the time received. No depreciation has been provided on general fixed assets.

The fixed assets purchased in the Proprietary Fund Types are capitalized at cost when purchased. Depreciation is provided using the straight-line method. The estimated useful lives of the various classes of depreciable assets are as follows -

l.

ASSETS YEARS Electric System 10 - 50 Sewer System 6 - 100 Water System 5 - 50 Buildings 10 - 40 Improvements other I than buildings 4 - 12 Equipment 5 - 20 K. Long-Term Debt Long-term debt of Proprietary Funds is accounted for in those funds. Unamortized bond discounts and issuance costs on long-teru debt are amortized over the life of the issue on a

{ seraight-line bsais.

45.

L _ _ ---_- >

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 Long-term debt of Governmental Funds is accounted for in the General Long-Term Debt Account Group. Current debt service is accounted for in the debt service funds. The City has no special assessment long-term debt outstanding.

L. Nuclear Fuel:

Amortization of nuclear fuel is based on the cost, which is prorated by fuel assembly batch in accordance with the thermal energy that each assembly produces. Due to the uncertain future of the nuclear fuel reprccessing industry and government approvals for reprocessing and plutonium recycling, the City is estimating no value for residual credits or costs for future reprocessing.

M. Pension Plans:

The City sponsors and administers thrce pension plans covering substantially all the full-time employees. General employees are covered by a pl6n established during 1968 that was amended and

' restated in 1975. Employees of the Police and Fire Departments were enrolled in separate retirement plans adopted by the City effective January 1, 1976, superseding the previous state established plans. Annual costs of the pension plans are

! actuarially computed and include amortization of past service

costs over a period of 30 to 40 years. General employees contribute 4% of their annual salary to their plan. The City's policy is to fund the annual pension costs in the annual budget.

N. Reserves:

Governmental Funds and Certain Fiduciary Funds - Reserves are used to indicate that a portion of the fund balance is not appropriable for expenditure or is legally segregated for a specific future use. Usage of reserves has been limited to the following items -

. Reserve for Encumbrances - indicates a portion of the fund balence that has been segregated for expenditure upon vendor performance. This reflects items that have been ordered or committed for at year-end which have not been received nor paid for.

. Reserve for Advances (Specific Fund) - indicates a portion of the fund balance that has been segregated for a long-term (more than one year) advance to another fund. Amount is unavailnble for appropriation for at Icast a year. ,

1 46.

i

(

l i

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 Proprietary Funds and Certain Fiduciary Funds - Reserves are used to indicate a segregation of a portion of retained earnings equal to the net current assets that are restricted for meeting various covenants as ' may be specified and defined in the revenue bond indenture. Usage of reserves has been limited to the following items -

. Reserve for Bond Retirement - restricted for future servicing of the revenue bonds (maximum amount of debt service due in any ensuing year).

. Reserve for Bond Asset Replacement - restricted for meeting of various contingencies as may be so specified and defined in the indenture (frequently referred to as renewal, replacement and improvement).

. Reserve for Employees' Retirement Systems - restricted ~

for payment of retirement benefits.

0.- Encumbrances:

Encumbrances represent contractual commitments in the form of purchase orders and contracts. Such encumbrances are not recorded as expenditures, but rather as reservations of fund balance for subsequent years' appropriation.

P. Total Columns on Combined Statements - Overview:

Total columns on the combined statements - overview are captioned Memorandum Only to indicate that they are presented only to aid in financial analysis. Data in these columns do not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. These columns do not represent consolidated amounts because interfund eliminations have not been made.

Q. Reclassifications:

Certain September 30, 1982 account balances have been reclassified in this report to conform with the financial state-ment presentation used in 1983.

47.

]

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983

2. ACCOUNTS RECEIVABLE The accounts receivable and allowance for uncollectibles at September 30,

} 1983 were as follows:

' ALLOWANCE ACCOUNTS FOR RECEIVABLE UNCOLLECTIBLES NET General Fund $ 44,241 $ -

$ 44,241 Paving Assessments Fund 282,880 16,384 266,496 Building Demolition Assessments Fund 1,022 -

1,022 Electric Utility Fund 2,746,005 32,761 2,713,244 Airport Fund 4,159 -

4,159 Section 8 H.A.P.P. Fund 1,380 -

1.380 TOTAL 3.079.687 $

$ 49.145 $ 3.030.542

3. . FIXED ASSETS The following is a summary of changes in general fixed assets during the year ended September 30, 1983:

BALANCE BALANCE OCTOBER 1, SEPTEMBER 30, 1982 ADDITIONS DELETIONS 1983 Land $ 359,700 $ -

359,700 Buildings 1,857,935 25,413 78,463 1,804,885 Equipment 1,713,597 239,379 191,843 1,761,133 Improvements other than buildings 375,408 63,588 71,095 367,901 Construccion in progress 1,062 4.975 1,062 4,975 TOTAL $ 4.307.702 $ 333.355 $ 342.463 $ 4.298.594 Construction in progress is composed of the following:

PROJECT EXPENDED TO REQUIRED AUTIIORIZA- SEPTEMBER 30, FUTURE TION 1983 COMMITTED FINANCING Lakefront Development Project $ 58.000 $ 4.975 $ -

$ 53.025 ,

s 48.

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_ _. . _ _ . . _ _ _ _ _ . . _ ~ . _.. .

=

CITY OF KISSIMMEE, FLORIDA NOTES'TO FINANCIAL STATEMENTS

. SEPTEMBER 30, 1983 At September 30, 1983, . the Proprietary Fund plant and equipment consisted of:

PLANT LESS:

AND ACCUMULATED EQUIPMENT DEPRECIATION' NET l

Electric $ 47,253,481 $ 10,717,245 $ 36,536,236 p Water and Sewer- 11,229,299 2,010,218 9,219,081 l Airport 927,463 552,577- 374,886

!. Solid Waste 241,614 58,614 183,000 Central Services 217,689 25,565 192,124 TOTAL ,$ 59.869.546 $ 13.364.219 $ 46.505.327 i

Construction in progress at September 30, 1983 consisted principally of

[ ~ work on the City's new combined cycle power plant in the Electric Utility j -Fund. The plant is being funded with a portion of the proceeds from the 1982 Electric Refunding Revenue Bonds. Total cost of the project will be l

.approximately. $25,000,000. Phase I, comprising approximately one-half of the . cost,- was completed and capitalized in May, 1983. Phase II is scheduled for completion by late 1983.

4. . INTERFUND BALANCES Individual fund interfund receivable and payable ban nces at September 30, 1983 are as follows: ,

INTERFUND INTERFUND RECEIVABLES PAYABLES General Fund .

$ 66,701 $ -

! Expendable Trust Fund -

Section 8 H.A.P.P Fund - 12,802 Agency Fund -

Occupational License Fund - 53,899 TOTALS $ 66.701 $ 66.701 49.

)

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983

5. ELECTRIC REVENUE BOND COVENANTS The Revenue Bond ordinance provides for:

A. Establishment and maintenance of various funds -

(1) Revenue Fund records all operating revenues and expenses of the system; (2) Sinking Fund records principal and interest requirements; (3) Bond Amortization Fund records funds held for the retirement of term bonds; (4) Reserve Fund records funds held for the maximum annual debt service requirement; (5) Renewal, Replacement and Improvement Fund records all the improvements, extensions and replacements of the system; and (6) Construction Fund records the cost of major additions to the system financed by revenue bonds.

B. Restrictions on the use of cash from operations in order of priority -

(1) Deposits are made to the Revenue Fund to meet current operations according to the budget; (2) Deposits to the Sinking Fund account are required on or before the 25th day of each month equal to one-sixth (1/6) of the interest coming due on the next semiannual interest payment date and one-twelfth (1/12) of the principal coming due on the next principal payment date; (3) Deposits to the Bond Amortization Fund are required on or before the 25th of each month equal to one-sixth (1/6) of the amortization installment coming due on the next semiannual payment date; (4) Deposits to the Reserve Fund are to be made when required to maintain the Fund at the reserve requirement (maximum annual debt service); and (5) Deposits to the Renewal, Replacement and Improvement Fund are required in each month equal to one-twelfth (1/12) of the adopted budget for that fund. The total annual deposit may not be less than 5% of the gross revenues for the preceding fiscal year after deducting 100% of the fuel expense and the energy component of purchased power expenses incurred in such preceding fiscal year. However, no such monthly deposit shall be required whenever the amount in such fund shall at least equal $1,500,000.

]

50.

CITY OF KISSDetEE, FLORIDA NOTES TO FINANCIAL STATEMENTS

, SEPTEMBER 30, 1983 C. Early t'edemption -

The bond ordinance provides for early redemption of outstanding i . bonds, except original issue discount bonds, at call rates

. varying from 100% to 102% of the instruments' face value, j dependent upon the call date. Original issue discount bonds may be redeemed early at call rates of 80% to 100% of the face value, dependent upon the call date.

]

l D. Investment restrictions -

(1) Funds of the Sinking Fund. Bond Amortization Fund, Reserve Fund and Renewal, Replacement and Improvement Fund are required to be continuously secured in the

[ same -manner as public funds are authorized to be

. secured by the Laws of the State of Florida; and l (2) Monies on deposit in the Sinking Fund and the Bond Amortization. Fund shall be invested only in direct obligations of, or obligations - the principal of and i -interest on which are guaranteed by the United States

+

of America and which do not permit redemption prior to maturity at the' option of the City. Monies on deposit

-in the Revenue Fund, Reserve Fund and Renewal and i

Replacement Fund may be invested as described above as well as in obligations of agencies of the United States i of America, obligations rating an "A" or better from 2

Moody's Investors Service, Inc., bank time deposits represented by Certificates of - Deposit and bankers l- acceptances, repurchase agreements, commercial paper which has the highest investment grade rating and shares of investment companies which invest principally in United States government securities.

E.. The refunding revenue bonds consist of the'following serial and term bonds -

moeur

!WTWEST FINAL OttCIMAR. DUTSTANDluc At natus me oAtas erustre mount sannem so. i,e3 osscaintou Blectrie nefunding Revenue S.751 to 9.81$5 tsade, settee 1902A 4/1310/l 10/1/12 M M 6 WATER AND SEWER REVENUE BOND COVENANTS The Water and Sewer -Revenue Bonds. Series A and Series 1981 resolutions provide for:

A. Establishment and maintenance of various funds -

(1) Revenue Fund records all operating revenues and expenses of the system;

.(2) Sinking Fund records all debt service requirements which includes the Sinking Fund account, bond amortization' account and reserve account; 51.

p-

I' CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS

[ SEPTEMBER 30, 1983 (3) Renewal, Replacement and Improvement Fund records all the improvements, extensions and replacements of the system; and (4) Construction Fund records the cost of major additions to the system financed by revenue bonds.

B. Restrictions on the use of ' cash from operations in order of priority -

(1) Deposits are made to the Revenue Fund to meet current operations according to the existing bond ordinance; (2) Deposits to the Sinking Fund account are required on or before the 20th day of each month equal to one-sixth (1/6) of the interest coming due on the next semiannual interest payment date and one-twelfth (1/12) of the principal coming due on the next principal payment date; (3) Deposits to the bond amortization account are required on or before the 20th of each month equal to one-sixth (1/6) of the amortization installment coming due on the next semiannual payment date; (4) Deposits to the reserve account are to be equal to one-sixtieth (1/60) of the reserve requirement (maximum principal and interest) and are to.be transferred on or before the 20th day of each month; and (5) _ Deposits to the Renewal, Replacement and Improvement Fund are required in each month equal to one-twelf th (1/12) of the adopted budget for that fund. The total annual deposit may not be more than 10% nor less than 5% of the gross revenues for the preceding fiscal year, however, that no such monthly deposit shall be required j whenever the amount in such fund shall at least equal )

$375,000.

C. Early redemption -

The bond ordinance provides for early redemption . of outstanding bonds at call rates varying from 100% to 103% of the instruments' face value, dependent upon the call date.

D. Investment restrictions -

(1) Funds of the sinking fund account, bond amortization account, reserve account and renewal, replacement and improvement fund are required to be continuously secured in the same manner as state and municipal ]

deposits of funds are required to be secured by the Laws of the State of Florida; and ]

(2) All monies deposited shall be continuously invested in J direct obligations of the United States of America, obligations of its several agencies or Time Deposits in banks, trust companies or navings and loan associations represented by Certificates of Deposit.

52.

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 E. The revenue bonds consist of the following serial and term bonds -

INTEREST FINAL DESCRIPTION RATES AND DATES MATURITY Water and Sewer Revenue 4.80% to 5.50%

Bonds, Series A 4/1;10/1 10/1/07 Water and Sewer Revenue 8.00% to 12.25%

Bonds Series 1981 4/1;10/1 10/1/05 AMOUNT ORIGINAL OUTSTANDING AT DESCRIPTION AMOUNT SEPTEMBER 30, 1983 Water and Sewer Revenue Bonds, Series A $ 5.525.000 $ 5.525.000 Water and Sewer Revenue Bonds, Series 1981 $ ?.600.000 $ 2.565.000

7. REFUNDED BONDS .

The City presently has outstanding serial bonds, which were refunded

-through the full cash defeasance method on January 4, 1978 and through the net cash defeasance method on February 25, 1982 and January. 25, 1983 as follows:

AMOUNT OUTSTANDING AT SEPTEMBER 30, 1983 ELECTRIC, WATER AND SEWER BOND ISSUES 1954 $ 85,000 1963 2,200,000 1965 560,000 1967 1,290.000 1971 850,000 1971-A 590,000 1973 3.395,000 1975 3,640,000 STATE OF FLORIDA POLLUTION CONTROL BONDS, SERIES F 1,370,000 ELECTRIC REVENUE BONDS Series A 18,400,000 1979-1 2,645,000 1982 47,500,000

$_82.525.000 Since governmental obligations are held in escrow for the payment of the principal and interest on these bonds, they are not liabilities to the City.

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l CITY OFlKISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS

. SEPTEMBER 30, 1983 8.'. .AIAPORT REVENUE BOND COVENANTS The Airport Revenue' Bonds resolution provides for:

A. ' Establishment and maintenance at various funds -

.(1) -Airport Revenue Fund records gross revenues from the operation of the Airport facilities; (2) ' Airport Revenu'e Bonds, Series 1971 Sinking Fund records all the debt service requirements of the issue which includes the principal, interest, sinking fund and reserve requirements; and (3) Renewal and Replacement Fund records all extensions, enlargements, additions and replacements to the Airport facilities.

B. Restrictions on the use of cash in order of priority -

(1) : Deposits to the Sinking Fund are required on or before the fifteenth day of each month ' equal to one-sixth (1/6) of the interest coming due on the next semiannual interest payment date and one-twelfth (1/12) of the principal coming due' on the 'next principal maturity date;

_(2) Deposits .to the Renewal and Replacement Fund in an amount equal to one-twelfth.(1/12) of five percent (5%)

of the gross revenues of the facilities for the previous. fiscal year, until there shall be on deposit

$50,000; and (3) Balance remaining can be used for any lawful purpose )

after making all of the.above required payments.

C. Investment restrictions -

(1) Funds 'o f the revenue. fund, sinking fund, reserve account and the renewal ~and replacement fund are required to be continuously secured in the manner by which the deposits of public. funds are authorized to be i secured by the Laws of the State of Florida; and 1 (2) All monies' deposited shall be continuously ~ invested or secured by direct obligations of the United States of America or Time Deposits Lin banks and trust companies represented by Certificates of Deposit.

D. The revenue bonds.(serial) consist of the following -

INTEREST FINAL

_ DESCRIPTION RATES AND DATES MATURITY Airport Revenue Bonds, 5.50% to 6.50%

Series 1971 -

6/1;12/1 12/1/95 AMOUNT ORIGINAL. OUTSTANDING AT DESCRIPTION AMOUNT SEPTEMBER 30, 1983 Airport Revenue Bonds.

Series 1971 $' 350.000 $ 275.000 54..

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 198?.

9. LIMITED AD VALOREM TAX BOND COVENANTS The Limited Ad Valorem Tax Bonds resolution provides for the establishment and maintenance of a Sinking Fund to be held and administered by the City for the purpose of paying the principal and interest on the bonds as they become due. In each year, while any such bonds are outstanding, there shall be levied and collected a special limited ad valorem tax not excceding five (5) mills in each year levied on all taxable property in the special taxing district comprising the municipal development district of the City over and above all other taxes authorized by law.

The Limited Ad Valorem Tax Bonds (serial) consisted of the following:

INTEREST FINAL DESCRIPTION RATES AND DATES MATURITY

' Limited Ad Valorem Tax Bonds 5.25% to 6.00%

10/1;4/1 10/1/93 ORIGINAL AMOUNT l AMOUNT OUTSTANDING AT DESCRIPTION ISSUED SEPTEMBER 30, 1983 Limited Ad Valorem Tax Bonds $ 171.000 $ 129.000

10. EXCISE TAX REVENUE BOND COVENANTS The $265,000 and $500,000 Excise Tax Revenue Bonds resolutions provide for:

A. Establishment and maintenance of various funds -

(1) Revenue Fund records all pledged excise tax revenues received by the City and required transfers to other f funds as stated below; L (2) Bond and Interest Sinking Fund records all debt service requirements of the issue, which includes the 4 principal, interest, sinking fund and reserve requirements; and (3) Construction Fund records the cost of the project financed by excise tax revenue bonds.

l

$ B. Restrictions on the use of cash in order of priority -

(1) Deposits of excise taxes are made promptly to the e Revenue Fund as they are received;

( (2) Deposits to the Bond and Interest Sinking Fund are required on or before the 15th day of each month equal to one-twelfth (1/12) of the amount of one year's

( interest on all the bonds then outstanding and one-twelf th (1/12) of the principal of the bonds maturing on the next succeeding anniversary date; 55.

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CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 (3) Deposits to the reserve account in the Bond and Interest Sinking Fund are required on or before the 15th day of each month equal to $130 until such time an the funds total $15,600 for the $265,000 bonds; and

$242 until such time as the funds total $29,025 for the

$500,000 bonds; and (4) Balance renaining may be used for any lawful purpooe after making all of the above required payments.

C. Early redemption -

The bond resolution provides for early redemption of out-standing bonds at call rates varying from 100% to 105% of the instrument's face value, dependent upon the call date.

D. Investment restrictions -

(1) Funds of the sinking fund account and reserve account are required to be continuously secured in the same manner as municipal deposits of funds are required to be secured by the Laws of the State of Florida; and (2) Monics in the sinking fund and reserve accounts may be invested in direct obligations of, or obligations guaranteed by, the United States of America. Monies on deposit in the Revenue Fund shall not be invested at any time.

E. The revenue bonds (serial) consist of the following -

INTEREST FINAL j DESCRIPTION RATES AND DATES MATURITY  ;

Excise Tax Revenue Bonds, $265,000 5%; 9/1 9/1/2019 Excise Tax Revenue Bonds, )

$500,000 5%; 9/1 9/1/2022 ORIGINAL AMOUNT AMOUNT OUTSTANDING AT DESCRIPTION ISSUED SEPTEMBER 30, 1983 Excise Tax Revenue Bonds $ 265.000 $ 258.000 Excise Tax Revenue Bonds _$ _ 500.000 $ 493.900

)

56.

CITY OF KISSIMMEE, FLORIDA NOTES TO "INANCIAL STATEMENTS SEPTEMBER 30, 1983

11. CHANCES IN LONC-TERM DEBT The following is a summary of bond transactions of the City for the year ended September 30, 1983 (in thousands of dollars):

ELECTRIC WAftR AND LIMittD BRCIIS UTILITY Stutt Altroef _ _AD W4LD000 TAR TOTAL.

so.de ( teen p.f.nte et 10/1/82 8 47.500 8 8.12$ 9 190 $ 138 8 761 0 16.794 New boede (noteel toewed Emetee Tee Revenue Bende = = = = 100 S00 1982A Bleettle gefunding sevenue sende 71.$00 = = = = 71.500 tende (asteel tettrod/

t.2 d.d (4r.500) osi (isi (9) (4 93 (4e.04 3 8050s (uofss) PATABLE AT 9/30/03 9 ft. tan i A.090 t 171 i 11 9 i fit 9 an.faa The annual requirements to amortize all debt outstanding as of September 30, 1983, including interest payments of $122,486.681, are as follows!

TEAR tuelp0 EttCTRIC WATER AND LIMtfm RACIST StrttIW W 30. (FTILITY 9tute AIRM97 40 VALostM TAE Total, 1984 $ $.019,376 $ 671.329 9 30.604 9 17.120 9 44.091 9 6.541.924 1981 1.024.560 670.330 29.741 14.9eo 43.830 4. Set.429 1996 6.132.723 673.201 20.879 17.400 44.100 6.496.947 1987 6.831.903 674.932 29.016 17.784 44.110 6.908.!!1 1900 6.030.322 672.482 12.0l0 17.112 41.380 6.797.166 1989 = 1991 31.420.999 3.349.729 111.997 87.000 221.141 11.441.630 1994 = 1994 32.231.261 3.341.000 92.571 = 222.980 33.090.llo 1999 = 2003 31.068.750 3.345.s11 = = 223.240 34.610.821 2004 = 2000 30.541.456 2.010.110 = =  !!!.760 32.818.326 2009 = 20l3 24.600.400 = = = 222.811 24.823.211 2014 - 2010 = = = = 223.940 223.940 2019 = 20!! = = = = 138.821 131.021 fvfALS 1180.010.034 8 11.451.966 9 193.702 9 174.974 8 1.493.800 $l97.721.030 f Leses Assunt representing

\ intereet 112.026.102 9.353.848 11A.702 41.376 141.9D0  !!!.446.641 Adde Amount representing bend emettisetten fund inveeteset petelesees end interest tesees 3.$l$.464 1.991.875 = = = 1.107.$41 TOTAL AT Patertrf TALut MMWWt 711.900 M

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CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAI STATEMENTS SEPTEMBER 30. 1983 <

12. SEGMENT INFORMATION FOR ENTERPRISE FUNDS _

The City maintains four Enterprise Funds which provide water and sewer, electric utility, airport services and solid waste collection services.

tiegsent information for the year ended September 30, 1993 is as followst ELtCTRle WAfta ANO SOLIO TOTAL UTILITT SFWtt AIRPORT W49ft INTtRPalts FUND fvwn y vwo mwn runns 9 24.704.847 $ l.A41.02) l

~

opctating tevenwee 13).201 0 161.249 I 27.044.340 Destestatten and senttisetten esponse 1.300,120  !)$ 444 14.748 27.419 1.591.341 Weretins ineone (leeg) 3.417.941 (191.817) (1) 912) (2.241) 3.441.910 opetettaa trenefores in = = = 29.34 ) 19.34)

Out, l.494.000 = = = l.400.000 Met incese (lese) (10.432.414) 97,942 (4.947) 14.741 (10.322.440)

Cuttent espital sentribt.ttece = l.409.994 40.387 1.44) 1.472.244 Property, plant and equipments Addittene 17.329.74) 421.304 10.912 17.404 18.243.171 Delettone to.944 = = = 19.944 Not wething espital 4.42).9)*  %.214.444 10.931 (41.831) 0.006.70)

Total seeete 70.094./49 17.471.$4a 414.911 14).000 94.344.234 operating stents = 1.147 18.048 = Il.415 Sede e.>l sther leas- ese liabilttlee = parette f ree opetettes tevenwee 71.500.000 d.co.000 *a0,0fW) 41.204 19.892.204 Tetet equity 11.541.4e2 9.009. Iso );;.347 $4.941 19.949,010

13. , PENSIONS A. General imployear' 5'ension F1 sat The General rap 1wyees' Fensie, Plan was established in 1968 and ]

imirded and restated in 1975 to cover substantially all full-time

. employees, except poitec of ficers and firefig'it ars. Annual costa )

r; .the pension p'9n are .atuarially eno ptir ed and include )

soortization of past service costs over .: 30 to 40-year period baitanning January 1,1974. The amployees contribute 4% of their annuti salary to the plat.. An actuarial study was conducted at )

' January 1. 1943 and reflected a not actuarial deficiency of

$1,361,767. The pension ft,nd assets of $3,261,026 exceeded the present valui of the actuarially computed vested benefits of

$2.117,688 by $1,143,338 at January 1 1983. Nonvested benefits totalled $447,863.

The City's contribution to the plan was $307,364 fot' fiscal 1903. )

56. -

CITY OF KISSIMMEE, FIAR1DA NOTES To FINANCIAL STATEMENTS SEPTEMBER 30, 1983 B. Municipal Police Officers' Retirement Plant The Municipal l'olice Of ficern' Retirement Plan, which covern all  ;

full-time sworn officorn, was amended and rentated in 1976.

Annual conta of the pension plan are actuarially computed and include amortisation of past nervice conta over a 30-year period beginning January 1, 1982. An actuarial study was conducted at January 1, 1983 and reficcted a not actuarial deficiency of

$114,043. The penaton fund anneto of $1,147,038 exceeded the actuarially computed vented benefits of $618,707 by $528,331 at January 1, 1983. Nonvented benefitn totalled $82.762.

The City's contribution to the plan van $95.505 for fiscal 1983.

C. Municipal Firemen's Retirement Plant The Municipal Firemen's Retirement Plan, which covern all full-time firefightern, wan amended and rentated in 1976. Annual conta of the retirement plan are actuarially computed and include amortisation of pant nervice conta over n 30 to 40-year period beginning January 1, 1976. An actuarial study was conducted at January 1 1983 and reflected a net actuarial deficiency of

$24.986. The pennion fund anneta of $633,133 exceeded the actuarially computed vented benefits of $208.145 by $424.988 at January 1, 1983. Nonvented benefits totalled $63.972.

l The City's contribution to the plan van $47,856 for fiscal 1983.

The Entry-Age Normal-l.ovel Percentage of Pay actuarial cost method van utilised in the January 1, 1983 valuations for all three funds. The significant actuarial ansumptionn for thin plan aret (1) life expectancy in calculated using the CA-1951 Halo Mortality projected to 1965 by Scalo C with a five-year not-back for femalen, (2) an internat return of 6% for the general employeen' plan and 7% for the polico officorn' and firemen's plans compounded annually. (3) a salary incrence of 4% por year for the general employeen and 5% for the police officcrn and firemen.

14. CONT!NCENCIFR AND COHHITHENTS A. The City in contingently Itahle for accumulated and unpaid i vacation leave and nick Innvo. Current policy allows each s employen to accumulate up to 20 dayn of vnentton leave. Time accrued beyond that in forfeited. The innjority of employeen utt11 e their annunt accrunt of vacation lonve during the year accrued. Employeen are allowed to accumulate up to 60 days of h nick leave. Time accrued beyond that in paid to the employeen overy year nt the rate of one-half pay.

( Accrued entimated linbilition not reflected in the accounta of the City, for vacation and nick leave henufitu to which the employsen are entitled, are nu follown at ficptember 30, 1983:

( Vacation leave Rick leave

$ 248,001 161,579 TOTAL 3 1 011d80; 59.

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CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 B. The City is in the process of defending a class action suit which alleges discriminatory practices by the City and seeks Federal Revenue Sharing funds as relief. The case is moving toward trial j in early 1984. Management believes the final outcome will have no adverse financial effect on the City.

C. There.is also a civil rights case which has been filed charging discrimination in hiring and promoting practices. This case has not been active for some time. It appears the City will not be exposed.

D. The City owns a portion of Florida Power Corporation's nuclear power plant at Crystal River, Florida. This plant is scheduled to be decommissioned in about the year 2008. The City will be liable for approximately $668,000 in decommissioning costs at that- time. Beginning in fiscal year 1985, the City will be escrowing a portion of this amount each year.

E. Leases:

(1) The property under capital lease consists of three sanitation trucks, one street sweeper, one dump truck, one side loading garbage truck and a telephone system at the. Police Department. All leases have terms of five years. Title to the equipment shall be transferred to the City at the end of the lease terms l and upon - the vendor's receipt of one dollar. As of September 30, 1983, $166,046 in principal payments had been made on this equipment, j The followin.g ' is a schedule by year of future minimum

' lease payments under capital leases, together with the present value of the net minimum lease payments, as of September 30, 1983:

GENERAL LONG-TERM SOLID YEAR ENDING DEBT ACCOUNT WASTE SEPTEMBER 30, GROUP FUND

-]

1984 $ 26,794 '$ 48,103 1985 19,640 31,411 1986 5,484 14,718 ]

TOTAL MINIMUM LEASE PAYMENTS $ 51,918 $ 94,232 Less: Interest 5,798 11,019 PRESENT VALUE OF NET MINIMUM LEASE PAYMENTS $ 46.120 $ 83.213 ]

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CITY OF KISSIMMEE, FLORIDA.

-NOTES T0 FINANCIAL STATEMENTS SEPTEMBER 30, 1983 (2) . In addition, the City is lessor on various leases at the Airport. The following is a schedule of minimum future rentals on noncancelable operating leases:

YEAR ENDING SEPTEMBER 30, 1984 $ 78,050 1985 71,406 1986 83,389 1987 83,389 1988 97,694 After 1988 813,003 TOTAL MINIMUM FUTURE RENTALS $ 1.226.931 Total incone on noncancelable operating leases for the year ended September 30, 1983 was $97,696.

15. CONSTRUCTION PROJECT INTEREST COST In accordance with Statement of Financial Accounting Standards No. 62,

" Capitalization of Interest Cost in Situations Involving Certain Tax-Exempt Borrowings and Certain Gif ts and Grants," the City has recorded interest cost as construction in progress that has been financed by long-term debt.

The amount of interest cost recorded in construction project for the fiscal year ended September 30, 1983 was:

ELECTRIC UTILITY FUND Total interest expense allocable to construction project $ 3,319,591 h Less: Interest earned in Construction Funds 696,247 TOTAL

(' $ 2.623.344

.16. EXTRAORDINARY ITEM A. During fiscal year 1982, the City sold $47,500,000 Electric Refunding Revenue Bonds for purposes of advance refunding all of

( its Electric Revenue Bonds and providing construction funds for a new, combined cycle power plant. An escrow agreement was entered into with Exchange Bank of Tampa and $16,844,498 was deposited

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CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 into U.S. Treasury Obligations - State and Local Government Series which will mature at such times and in such amounts to pay all principal and interest on the refunded bonds. A calculation of the net gain on the refunding program is as follows:

Net old bonds refunded $ 19,850,089 Net new bonds issued 11,320,324 GAIN ,$ 8.529.761 The gain calculated above is recorded as an extraordinary item in the Electric Utility Fund on the statement of revenue and expense for the year ended September 30, 1982.

E. During fiscal year 1983, the City sold $71,500,000 of Electric Refunding Revenue Bonds for the purpose of advance refunding the

$47,500,000 Electric Refunding Revenue Bonds. An escrow agreement was entered into with Sun Bank, N.A., Orlando, and

$60,693,762 was deposited into the escrow account for purchase of U. S. Treasury Obligations -

State and Local Government Securities, which will mature at such times and in such amounts to pay all principal and interest on the refunded bonds. A calculation of the net loss on the refunding program is as follows:

Net old bonds refunded S 37,408,071 Net new bonds issued 50,794,232 LOSS $ (13. 386.161)

The loss calculated above is recorded as an extraordinary item on the statement of revenue and expense in the Electric Utility Fund for the year ended September 30, 1983.

17. NEGATIVE RETAINED EARNINGS The following funds have recorded negative retained earnings at September 30, 1983:

A. Airport (Enterprise Fund) - $324,562. There is an industrial park under development which should enhance earnings.

B. Self-Insurance (Internal Service Fund) - $57,190. An interim rate increase was adopted in December, 1983 toward the end of -

eliminating this deficit.

18. IMPACT FEES Pooled cash and investments in the Enterprise Funds include $4,199,542 in water and sewer impact fees. These fees can only be used for primary water g or primary sewer system extensions or both. As of September 30, 1983,

$1,609,942 of these fees were held as deposits under a sewer capacity

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62.

CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1983 allocation program. The program calls for " reservation" of sewer capacity in advance by requiring partial payment of impact fees prior to actual connection. If the City should be unable to deliver the reserved capacity, a portion of the reservation fee would be refundable to the customer.

19. BOND COMPLIANCE As stated in Note 4, Sinking Fund payments are required to be made by the 25th day of each month. The June 25, 1983 payment was inadvertently missed, but was made on July 15, 1983. There was no deficiency in the sinking funds on either interest date or as of September 30, 1983.

20. CONTRIBUTIONS The following is a summary of changes in contributed capital during the year ended September 30, 1983:

WATER A18D SOLID CEltTRAL SEWFR AIRPORT WASTE SERVICES TOTAL CoerTRI8UTED CAPITAL = October 1.1982 $ 2.307.120 $ 587.522 $ 41.263 $ 60,982 $ 2.996.887 ADD 7 eter sad sewer impact fees 1.341.654 - - -

1.341.654 Contribution for construction Federal covernment $1.458 26.375 - -

77.833 State Covernment - 34.012 - - 34.012 Contribution from subsidiary 216.882 - - - 216.882 Contribution free General Fund - -

1.863 141.623 143.486 Contribution free Capital taprovement Fund - - -

65.738 65.738 LESS Assets disposed of - - - (4.510) (4.510)

CONTRI8UTED CAPITAL - September 30. 1983 9 3.917.114 9 647.009 $ &?.126 S 263.833 $ 4.871.992 L

21. CENTRAL SERVICES FUND In fiscal year 1982, the data processing division of the Central Services Department was moved from the General Fund and set up as an Incarnal

( Service Fun'd. In fiscal year 1983, the other central service divisions were removed from the General Fund and placed in the Central Services Fund ,

with data processing; therefore, no expenditures for the Central Services '

Department appear in the General Fund for the year ended September 30,

{- 1983.

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1 CITY OF KISSIMMEE, FLORIDA NOTES TO FINANCIAL STATEMENTS l SEPTEMBER 30, 1983

22. SELF-INSURANCE FUND Effective December 1, 1982, the City began self-insuring its medical ,

benefits. The City has insurance to cover individual stop loss after

$25,000 and an aggregate stop loss calculated at $1,039 per employee per year. Also, accounted for in this fund are employee life insurance and dependent health benefits. Life insurance and employee health premiums are paid 100% by the City. Dependent health premiums are paid by the employee.

23. . SUBSEQUENT EVENTS A. The City is in the process of validating $10-15 million in Water and Sewer Revenue Bonds. The proceeds will be used to construct a wastewater treatment plant and other minor projects.

B. On January 31, 1984, the City entered into a contract with Orlando Utilities Commission to purchase 20 megawatts of a coal-fired plant to be completed in 1988. The estimated cost of

$40 million will be financed through the sale of revenue bonds.

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' COMBINING AND INDIVIDUAL FUND AND ACCOUNT GROUP STATEMENTS AND SCHEDULES ,

These financial statements provide a more detailed view of the

" General Purpose Financial Statements" presented in the preced-ing subsection.

. Combining Statements are presente_d when there are more than one fund of a given fund type. Individual fund and account group i- . '

statements are presented when there is only one fund of a given

~

type and for the account group. They are also necessary to present budgetary comparisons.

Financial sched ules are also presented that provide greater detailed information than reported in the financial statements. Schedules

- also present information that is spread throughout the statements that can be brought together and shown in greater detail.

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GOVERNMENTAL FUND TYPES l

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GENERAL FUND To account for resources traditionally associated -

with governments which are not required to be accounted for in another fund.

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CITY OF KISSIMMEE, FLORIDA BALANCE SHEET GENERAL FUND SEPTEMBER 30, 1983 1983 1982 ASSETS Equity in pooled cash and investments $ 1,677,574 $ 1,287,777 Accounts receivable 44,241 -

Taxes receivable - 2,402 Due from Occupational License Tax Fund 53,899 56,911 Due from Section 8 H.A.P.P. Fund 12,802 9,875 Due from Electric Utility Fund -

120,833 Due from other governments 16,570 22,497

Inventory of materials and supplies 16,008 61,285

~ Advance to Payroll Fund - 2,000 TOTAL ASSETS $ 1.821.094 $ 1.563.580 LIABILITIES AND FUND EQUITY

-LIABILITIES Accounts payable $ 57,570 $ -58,974 Accrued taxes payable 33,045 28,745 Accrued salaries- 76,420 181,258 Deposits payable 20,788 700 i Due to Vehicle Renewal and Replacement - 9,900 Deferred revenue - 2,402 Due to other governments 3,900 -

~ Contracts /retainages payable - 20,352 TOTAL LIABILITIES $ 191,723 $ 302,331 CONTINGENCIES AND COMMITMENTS (Note 14)

FUND EQUITY Fund balance:

Reserved for encumbrances $ 51,736 $ 69,299 Reserved for advance to Payroll Fund - 2,000 Unreserved -

Designated for subsequent years' expenditures 33,116 -

Undesignated 1,544,519 1,189,950 TOTAL FUND EQUITY $ 1,629,371 $ 1,261,249 TOTAL LIABILITIES AND FUND EQUITY $ 1.821.094 $ 1.563.580 See accompanying notes to financial statements.

70.

CITY OF KISSIMMEE, FLORIDA STATEMENT OF CHANGES IN FUND BALANCE

~' GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 1983-1983 1982 FUND BALANCE AT BEGINNING OF YEAR $ 1,261,249 $ 689,774 Changes during the current year:

Revenues 6,686,436 5,912,731 Expenditures (6,318,314) _ 5,341,256)

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FUND BALANCE AT END OF YEAR S 1.629.371 S 1.261.249 See accompanying notes to financial statements.

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i l-CITT OF KISSINHEE, FLORIDA PACE 1 0F 2

-. STATDtENT OF REVENUES AND OTHER FINANCING SOURCES - BUDGET AND ACTUAL GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30. 1983 1983 1982 VARIANCE VARIANCE BUDGET FAVORABLE BUDGET FAVORABLE (REVISED) ACTUAL (UNFAVORABLE) (REVISED) ACTUAL (UNFAVORABLE)

~ REVENUES Taxes:

General property taxes -

current and delinquent. $ 1.094.539 $ 1.081.966 $ (12.573) $ 1.161.500 $ 1.260.915 $ 99.415 Franchise taxes 99,700 59,693 (40.007) 94,000 117,388 23,388 TOTAL $ 1,194.239 $ 1.141,659 $ (52,580) $ 1,255,500 $ 1,378,303 $ 122,803 Licenses and permits:

Business licenses $' 140.000 $ 125.404 $ (14.596) $ 130.000 $ 109.339 $ (20.661)

Building permits 80.300 183.499 103.199 71.000 105.010 34.010 Other licenses and

-permits' 2,000 2.530 530 2,000 1,307 (693)

TOTAL $ 222,300 $ 311,433 $ 89,133 $ 203.000 $ 215.656 $ 12.656 Intergovernmental

-revenues:

Federal, state and local grants -$ 18.821 $ 17.748 $ (1,073) $ -

$ 16.263 $ 16.263 State Revenue Sharing 520.000 538.301 18.301 494.791 534.776 39.985 Shared taxes and-licenses 447.000 706.003 259.003 135.900 171.930 36.030 County road and bridge 50.G00 216 (49.784) 50,000 13.554 (36.446)

County ambulance

.- se rvice 365,000 361,100 (3.900) 310,835 309,181 (1,654)

TOTAL $ 1,400,821 $ 1.623,368 $ 222,547 $ 991,526 $ 1,045,704 $- 54,178 1

Charges for services:

-General Government

.-charges S' 7.900 $ 15.035 1 7.135 $ 119,850 $ 105.139 $ (14.711) l I

General Government charges to other funds 373.838 373.838 -

370.004 370.004 -

'Public Safety charges - 17.945 17.945 -

3.114 3.114

' Physical Environment charges . 13.700 27.040 13.340 10.000 7.210 (2.790)

Transportation charges -

4.165 4.165 -

1.725 1.725 Culture / Recreation

- charges 14,000 34,060 20,060 13,000 2,044 :10,956)

TOTAL $ 409,438 $ 472,083 $ 62,645 $ 512,854' S 489,236 $ (23,618)

. Fines and forfeitures:

Court fines and costs $ 62,500 $ 110,692 $ 48,192 $ 63.500 $ 62,701 $ (799)

' Miscellaneous revenue:

Interest earnings $ 190.162 $ 179.630 $- (10.532) $ 99,200 $ 172.982 $ 73.782 Donations f rom private sources - 1.565 1.565 - 12,279 12.279 Rents 5,500 6.900 1.400 3.600 7.938 4.338 Sales of surplus materials 5.000 9.622 4.622 5.000 16.262 11.262 Other revenue 15.000 69.186 54.186 10,000 30.383 20.383 Sale of cemetery lots 10,000 12.740 2.740- 10,000 9.269 (731)

$ 225,662 $ 279,643 $ 53,981 $ 127,800 $ 249,113 $ 121,313 TOTAL TOTAL REVENUES $ 3.514.960 $ 3,938,878 $ 423,918 $ 3.154,180 $ 3,440,713 $ 286.533 See accompanying notes to financial statements.

72.

CITY OF KISSIMMEE. FLORIDA PAGE 2 0F 2 STATDfENT OF REVENUES AND OTHER FINANCING SOURCES - BUDGET AND ACTUAL GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 1983 1983 1982 VARIAECE VARIANCE BUDGET FAVORABLE BUDGET FAVORABLE (REVISED) ACTUAL (UNFAVORABLE) (REVISED) ACTUAL (UNFAVORABLE)

OTHER FINANCINC SOURCES Transfers from other fundst.

Capital Improvement Fund $ 345,614 $ 355,614 $ 10,000 $ 256.121 $ 257.002 $ 881 Electric Utility Fund 1.600,000 1.600.000 -

1.450.000 1.450.000 -

Utility Tax Fund 792,000 791.944 (56) 776.250 765,016 (11,234)

TOTAL OTHER FINANCING SOURCES $ 2,737,614 S 2,747,558 $ 9.944 $ 2.482,371 $ 2,472,018 $ (10,353)

TOTAL REVENUES AND OTHER FINANCING SOURCES $ 6,252.574 3 6,686.436 $ 433.862 $ 5.636.551 $ 5.912.731 $ 276,180 APPROPRIATED FUND BALANCE 635,691 571,930 (63,761) 97,525 - (97,525)

TOTALS $ 6.888.265 $ 7.258.366 $ 370.101 $ 5.734.076 9 5.912.731 $ 179.655 See accompanying notes to financial statements.

l 73.

CITY OF KISSIMMEE, FLORIDA STATEMENT OF EXPENDITURES AND TRANSFERS - BUDGET AND ACTUAL GENERAL FUND FOR THE YEAR ENDED SEPTEMBER 30, 1983 1983 ADJUSTMENT ACTUAL ON TO BUDGETARY BUDGETARY ACTUAL BASIS BASIS GENERAL COVERNMENT City Ccemission $ 62,807 $ -

$ 62,807 City Manager 414.126 401,172 815,298 Community Development 75,135 - 75,135 Legal 30,691 - 30,691 Finance 311,713 - 311,713 Central Services (Note 21) - - -

Personnel 92,361 - 92,361 Central Service charges 284,088 - 284,088 TOTAL GENERAL GOVERNMENT $ 1,270,921 $ 401,172 $ 1,672,093 PUBLIC SAFETY Police $ 1,717,302 $ (301,905) $ 1,415,397 Fire 1,080,369 - 1,080,369 Inspection 148,410 - 148,410 TOTAL PUBLIC SAFETY $ 2,946,081 $ (301,905) $ 2,644,176

)

PUBLIC WORKS $ 983,267 $ - $ 983,267 l CULTURE / RECREATION $ 464,789 $ (99,267) $ 365,522 TOTAL EXPENDITURES S 5,665,058 $ - $ 5,665,058 TRANSFERS Transfer to Capital Improv= ment Fund S 571,930 $ -

S 571,930 Transfer to Solid Waste Fund 29,363 - 29,363 Transfer to Airport Fund Transfer to Debt Service Fund 51,963 - 51,963 TOTAL TRANSFERS $ 653,256 $ -

$ 653,256 TOTAL EXPENDITURES AND TRANSFERS $ 6.318.314 $ -

$ 6.318.314 See accompanying notes to financial statements.

74.

1982 VARIANCE VARIANCE BUDGET FAVORABLE BUDGET FAVORABLE (REVISED) '(UNFAVORABLE) ACTUAL (REVISED) (UNFAVORABLE)

$ 66,700 $ 3,893 $ 73,708 $ 71,218 $ (2,490) 943,303 128,005 355,635 422,328 66,693 78,450 3,315 90,792 95,228 4,436 85,000. 54,309 39,099 60,000 20,901 330,658 - 18,945 305,696 315,668 9,972 270,058 280,171 10,113 102,683 10,322 96,510 96,888 378

, 310,000 25,912 41,058 36,478 (4,580) i $ 1,916,794 $ 244,701 $ 1,272.556 $ 1,377,979 $ 105,423 i

i l $ 1,637,982 $ 222,585 $ 1,428,393 $ 1,523,967 $ 95,574 l 1.119,175 38,806 1,085,916 1,117,901 31,985

148,436 26 141,871 146,866 4,995

$ 2,905,593 $ 261,417 $ 2,656,180 $ 2,788.734 $ 132,554

$ 1.015,682 $ 32,415 $ 914,907 $ 1,003,931 $ 89,024

$ 393,903 $ 28,381 $ 461,305 $ 477,907 $ 16,602

$ 6,231,972 $ 566.914 $ 5,304,948 $ 5,648,551 $ 343,603

$ 571,930 $ -

29,363 - 19,523 - (19,523)

- - - 30,525 30,525 35,000 3,037 16,785 55,000 38,215

$ 656,293 $ 3,037 $ 36,308 $ 85,525 $ 49,217

$ 6.888.265 $ 569.951 $ -5.341.256 $ 5.734.076 $ 392.820 75,

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SPECIAL REVENUE FUNDS Utility Tax - To account for the receipt and disbursement of an 8% tax on all purchases of electric, water, gas, telephone and telegraph services. Monies collected from this tax are a secondary pledge on the outstanding Water and Sewer Bonds. Monies are typically used for General Fund purposes.

Federal Revenue Sharing - To account for the receipt and disbursement of Federal Revenue Sharing Entitlement Funds. A separate accounting is required by Federal Law.

Capital Improvement - To account for the acquisition of various capital items. Money is transferred from this fund to a Capital Projects Fund for major capital projects. These acquisi-tions are funded by transfers from the General Fund.

l Vehicle Replacement.- To account for the systematic

_ replacement of City vehicles.

These acquisitions are funded by transfers from the General Fund.

Recreation Impact - To account for impact fees designated for the various City parks. Impact fees are charged to each new living unit constructed.

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CITY OF KISSIMMEE, FLORIDA I

COMBINING BALANCE SHEET

'ALL SPECIAL REVENUE FUNDS SEPTEMBER 30, 1983 FEDERAL UTILITY REVENUE TAX SHARING l ASSETS Equity.id pooled, cash and' investments $ -

$ 273,140 Due~fromLother governments - 60,157 Due from other funds - -

! TOTAL' ASSETS' $_

-- $ 333.297'

. LIABILITIES AND FUND EQUITY

~ LIABILITIES Accounts payable $ -

.' CONTINGENCIES AND COMMITMENTS (Note 14)

FUND' EQUITY Fund balances:

Reserved'for encumbrances

$ $ l

' Unreserved -' l Designated for subsequent. years' expenditures - -

Undesignated - 333,297 l

TOTAL' FUND EQUITY $ -

$ 333,297 TOTAL LIABILITIES ~AND FUND EQUITY S -

$ 333.297 See accompanying notes to financial statements.

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CAPITAL VEHICLE RECREATION TOTALS IMPROVEMENT REPLACEMENT IMPACT. 1983 1982

-$ 456,209 $ 133,247 $ 133,741 $ 996,337 $ 656,989

- - - 60,157 63,693 9.900

$ 456.209 $ 133.247 $ 133.741 $ 1.056.494 $ 730.582

$ -23,002 $ 11,478 $ -

$ 34,480 $ 1,151 Q 23,638 $ 79,981 $

$ 103,619 $ -

295,024 - - 295,024 -

114,545 41,788 133,741 623,371 729,431-

$- 433,207 $ 121,769 $ 133,741 $ 1,022,014 $ 729,431

$ 456.209 $ 133.247 $ 133.741 $ 1.056.494 $ 730.582 79.

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r CITY OF KISSIMMEE, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

. ALL SPECIAL REVENUE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 FEDERAL UTILITY REVENUE TAX SHARING REVENUES Taxes:

Water revenue tax $ 29,682 $ -

Electric revenue tax 563,956 -

Bottled gas revenue tax 56,355 -

Telephone revenue tax 141,951 -

Recreation impact fees - -

Intergovernmental revenue:

County landscaping grant - -

Federal Revenue Sharing entitlement -

238,620

= Interest earnings -

20,359 Miscellaneous revenue - -

Donations from private sources - -

TOTAL REVENUES $ 791,944 $ 258,979 EXPENDITURES General Government $ -

Public Safety - -

Public Works - -

)

Culture / Recreation - -

i TOTAL EXPENDITURES $ -

EXCESS OF REVENUES OVER (UNDER) EXPENDITURES ' $ 791,944 $ 258,979 0THER FINANCING SOURCES (USES) '

Operating transfers in $ -

Operating transfers out (791,944) -

TOTAL OTHER FINANCING SOURCES (USES) S (791,944) $ -

EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES $ -

$ 258,979 FUND BALANCES AT BEGINNING OF YEAR - 74,318 FUND BALANCES AT END OF YEAR $ -

$ 333.297 See accompanying notes to financial statements.

80.

CAPITAL VEHICLE. RECREATION TOTALS IMPROVEMENT REPLACEMENT IMPACT 1983 1982

$ 29,682 $ 22,134

- - - 563,956 428,400 56,355 23,294

- - - 141,951 114,153

- - - 77,265 .77,265 21,250 6,277- - - 6,277 -

- - - 238,620 254,772 72,127 20,687 10,025 123,198 97,426 216 6,625 -

6,841 15,338 6,277 - - 6,277 -

'$ 84,897 $ 27,312 $ 87,290 $ 1,250,422 $ 976,767

$ 68,224' $. 7,389 $ --

$ 75,613 $ 28,941

'35,579 114.430 - 150,009 65,641 30,270 19,250 -

49,520 134,953

28,415 - - 28,415 13.212

$- 162,488 $1 141,069 $ -

$ 303,557 $ 242,747

!L (77,591) $ ~(113,757) $ 87,290 $ 946,865' $ 734,020 g $ 571,930 $ '186,500 $ -

$ 758,430 $ .30,000

l. -(620,768) - - (1,412,712) '(1,134,924)

$ (48,838) $ 186.500 $ -

$ (654,282) $ (1,104,924)

$ .(126,429) $' 72,743 $. 87,290 $ 292,583 $ (370,904) 559,636 49,026 46,451 729,431 1.100,335

$ '433.207 $ '121.769 $ 133.741 _$_ l.022.014 $ 729.431 b.

81.

r:

CITY OF KISSIMMEE, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND.

CHANGES IN FUND BALANCE - BUDGET AND ACTUAL UTILITY TAX FUND FOR THE YEAR ENDED SEPTEMBER 30, 1983 VARIANCE FAVORABLE 1982 BUDGET ACTUAL (UNFAVORABLE) ACTUAL

' REVENUES Taxes:

-Water revenue tax. $ 27,000 $ 29,682 $ 2,682 $ 22,134 Electric revenue tax 566,000 563,956 (2,044) 428,400 Bottled gas revenue tax 52,000 56,355 4,355 23,294 Telephone revenue tax 135,000 141,951 6,951 114,153 Interest earnings 12,000 - (12,000) -

TOTAL REVENUES $ 792,000 $ 791,944 $ (56) $ 587,981 EXPENDITURES - - - -

EXCESS OF REVENUES OVER (UNDER) EXPENDITURES $ 792,000 $ 791,944 $ (56) $ 587,981

'OTHER FINANCING SOURCES

-(USES) _

l Operating-transfers out- (792,000) (791,944) 56 (765,016) 1 EXCESS OF REVENUES.AND l OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES $ -

$ (177,035)

FUND BALANCE AT BEGINNING 0F YEAR - - - 177,035 FUND BALANCE AT END OF YEAR $

s 1

See accompanying notes to financial statements, i

?82.

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CITY OF KISSIMMEE, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FFDERAL REVENUE SHARING FUND

-FOR THE YEAR ENDED SEPTEMBER 30, 1983 VARIANCE FAVORABLE 1982 BUDGET ACTUAL (UNFAVORABLE) ACTUAL REVENUES Intergovernmental revenue -

revenue sharing entitlement funds $ 290,000 $ 238,620 $ (51,380) $ 254,772 Interest earnings 19,175 20,359 1,184 5,046 Miscellaneous revenue - - -

188 TOTAL REVENUES $ 309,175 $ 258,979 $ (50,196) $ 260,006 EXPENDITURES Public Safety $ 314,175 $ -

$ 314,175 $ 57,570 Public Works - - - 104,871 TOTAL EXPENDITURES $ 314,175 $ -

$ 314,175 $ 162,441 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES $ (5,000) $ 258,979 $ 263,979 $ 97,565 OTHER FINANCING SOURCES <

(USES)

Operating transfers out - - - (30,000)

EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER USES $ (5,000) $ 258,979 $ 263,979 $ 67,565 FUND BALANCE AT BEGINNING OF YEAR 74,318 74,318 - 6,753

. FUND BALANCE AT END

-OF YEAR _$ 69.318 $ 333.297 $ 263.979 $ 74.318 See accompanying notes to financial statements.

83.

CITY OF KISSIMMEE, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL CAPITAL IMPROVEMENT FUND FOR Tile YEAR FNDED SEPTEMBER 30, 1983 VARIANCE FAVORABLE 1982 BUDGET- ACTUAL (UNFAVORABLE) ACTUAL REVENUES.

Local grant- .

$ 6,277 $ 6,277 $

Donations from private

-sources - 6,277 6,277 -

Int'erest earnings 80,000 72,127 (7,873) 87,567 Miscellaneous -

216 216 -

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TOTAL REVENUES- $ 80,000 $ 84,897 $ -4,897 $ 87,567

-EXPENDITURES

~

-General Government S .234,636 $ 68,224 $ 166,412 $ 78,941

'Public Safety -46,921 35,579 11,342 8,071 Public Works 177,375 30,270 147,105 30,082

Culture / Recreation 30,300 28,415 1,885 13,212 TOTAL. EXPENDITURES $ 489,232 $ 162,488 $ 326,744 $ 80,306 EXCESS OF REVENUES OVER H 1(UNDER) EXPENDITURES ' $ (409,232) $ (77,591) $ 331,641' $ 7,261.

OTHER FINANCING SOURCES I (USES)

Operating transfers in S 500,000 $ 571,930 $ 71,930 $ -

Operating transfers out '(615,768) (620,768) (5,000) (339,908)

TOTAL =OTHER FINANCING

, SOURCES (USES) $ (115,768) $ (48,838) $ 66,930 $ (339,908)

EXCESS OF REVENUES AND OTHER SOURCES OVER (UNDER)

EXPENDITURES AND OTHER USES- $ (525,000) $ '(126,429) $ 398,571 $ (332,647)

~ FUND BALANCE AT BEGINNING 0F YEAR 559,636 559,636 - 892,283 ]

-FUND BALANCE AT END OF YEAR $ 34.636 _$ 433.207 $ 398.571 $ 559.636 See' accompanying notes to financial statements.

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4 CITY OF KISSIMMEE, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL VEHICLE REPLACEMENT FUND

! FOR THE YEAR ENDED SEPTEMBFR 30, 1983

1. VARIANCE FAVORABl.E 1982 BUDGET ACTUAL (UNFAVORABLE) ACTUAL REVENUES Interest earnings $ 14,000 $ 20,687 $ 6,687 $ 494

' Miscellaneous revenue - 6,625 6,625 15,150

. TOTAL REVENUES $ 14,000 $ 27,312 $ 13,312 $ 15,644 EXPENDITURES General Government S 24,035 $ 7,389 $ 16,646 $ -

-Public Safety 119,000 114,430 4,570 -

Public Works 96,000 19,250 76,750 --

TOTAL EXPENDITURES $ 239,035 $ 141,069 $ 97,966 -$ -

EXCESS OF REVENUES OVER (UNDER) EXPENDITURES $ (225,035) $ (113,757) $ 111,278 $ 15,644 OTHER FINANCING SOURCES-

-(USES)

Operating transfers in 186,500 186,500 - 30,000 EXCESS OF REVENUES AND

,OTHER SOURCES OVER (UNDER)

EXPENDITURES AND OTHER USES $ (38,535).$~ 72,743 $ 111.278 $ 45,644 FUND BALANCE AT BEGINNING 0F YEAR 49,026 49,026 -

3,382 FUND BALANCE AT END OF YEAR $ 10.491 $ 121.769 $ 111.278 _S 49.026~

-.See accompanying notes to financial statements.

85.

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p CITY OF KISSIMMEE, FLORIDA STATEMENT OF REVENUES, ' EXPENDITURES AND

! CHANGES IN FUND BALANCE - BUDGET AND ACTUAL i

j RECREATION IMPACT FUND i

L FOR THE YEAR ENDED SEPTEMBER 30, 1983 l VARIANCE l FAVORABLE 1982  !

BUDGET ACTUAL (UNFAVORABLE) ACTUAL REVENUES Recreation. impact fees $ 10,000 $ 77,265 $ 67,265 $ 21,250 Interest earnings - 10,025 10,025 4,319 TOTAL REVENUES $ 10,000 $ 87,290 $ 77,290 $ 25,569 i: . EXPENDITURES Culture / Recreation 40,000 - 40,000 -

l-EXCESS OF REVENUES OVER

-(UNDER) EXPENDITURES $- (30,000) $ 87,290 $ 117,290 $ 25,569 OTHER FINANCING SOURCES (USES) -

EXCESS OF REVENUES AND OTilER SOURCES OVER (UNDER)

EXPENDITURES AND OTHER USES $ (30,000) $ 87,290 $ 117,290 $ 25,569 FUND BALANCE AT BEGINNING j L OF YEAR 46,451 46,451 - 20,882 i

FUND BALANCE AT END OF YEAR $ 16.451 $ 133.741 $ 117.290 $ 46.451 l

i J

See accompanying notes to financial statements.

86.

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.e-DEBT SERVICE FUNDS Municipal Development Authority - To. necumulate monies for the payment of the 1978 $171,000 Limited Ad Valorem Tax Serial Bonds with final maturity in 1993. Property taxes are levied against the Downtoun Development District to finance the payment of the principal and interest.

FaHA Bonds - -

To accumulate monies for the payeent of the following bonds:

1980 Excise Tax Revenue Bond,

, $265.'000; 1981 Excise Tax Revenue Bond, $500,000. Occupa-tional licenses are pledged for payment of the principal and interest. Monies are trans-ferred from the General Fund.

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CITY OF KISSIMMEE, FLORIDA COMBINING BALANCE SHEET ALL DEBT SERVICE FUNDS SEPTEMBER 30, 1983 NUNICIPAL DEVELOPMENT TOTALS AUTHORITY TmHA BONDS 1983 1982 ASSETS Equity in pooled cash-and investments $ 25,345 $ 11,845 $ 37,190 $ 46,635 TOTAL ASSETS $ 25.341 $ 11.8_4_5_ $ 37.190 $ 4jajjj, LIABILITIES AND FUND EQUITY ,

LIABILITIES $ -

CONTINCENCIES AND_

COMMIihEniS (Note 14)

FUND EQUITY Fund balances -

Designated for debt service 25,345 11,845 37,190 46,635 TOTAL LIABILITIES AND )

FUND EQUITY $_ 25.345 $ 11.845 $_ 37.190 ,$ 46.635 See accompanying notes to financial statements.

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CITY OF KISSIMMEE, FLORIDA Cf '- >ING ;TATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL DEBT SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 MUNICIPAL "

r-DEVELOPMENT TOTALS AUTHORITY FmHA BONDS 1983 1982 REVENUES Taxes - property taxes $ 17,477 $ -

$ 17,477 $ 17,780

Interest earnings 7.250 - 7,250 6,177 TOTAL REVENUES- $ 24,727 _$ _

$ 24,727 $ 23,957 EXPENDITURES Principal-retirement $ 9,000 $ 9,100 $ 18,100 $ 11,000 Interest and fiscal-costs 8.695 35,995 44,690 22,480 TOTAL EXPENDITURES $ 17.695 $ 45,095 $ 62,790 $ 33,480 EXCESS OF REVENUES'0VER

.(UNDER) EXPENDITURES $ 7,032 $ (45,095) $ (38,063) $ (9,523)

OTHER FINANCING SOURCES (USES)

. . Transfer from General Fund $ -

$ 51,963 $ 51,963 $ 16,785

' Transfer from Capital Projects Fund - - -

598 Transfer to Capital Projects Fund (23,345)_ - (23,345) -

' TOTAL OTHER FINANCING

. . SOURCES (USES) $ (23,345) $ 51,963 $ 28,618 $ 17,383

. EXCESS OF REVENUES AND l-OTHER SOURCES OVER (UNDER)

.. EXPENDITURES AND OTHER USES $ (16,313) $ 6,868 $ (9,445) $ 7,860

-FUND BALANCES AT BEGINNING OF YEAR. 41,658 4,977 46,635 38,775 FUND BALANCES AT END OF YEAR

$ -25.345 $ 11.845 $ ~ 37.190 $ 46.635 See accompanying notes to financial statements.

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CAPITAL PROJECTS FUNDS Municipal Development Authority - To account for improvements to the Downtown Development District. Construction began in fiscal year 1979 and was completed during fiscal 1982.

Financing was provided through the sale of $171,000 of Limited Ad Valorem Tax Bonds.

City Hall Expansion - To account for the construction of an addition to the current City Hall. Design and construc-tion started during fiscal year 1981 and was completed in late 1982. Financing is provided by

$250,000 from the Capital Improvement Fund and $500,000 from FmHA Bonds.

Lakefront Development - To account for improvements to the park on Lake Tohopekiliga.

A five-year development was begun in fiscal year 1983.

Financing will be obtained from a combination of General Fund monies, donations and grants.

CITY OF KISSIMMEE, FLORIDA COMBINING BALANCE SHEET ALL CAPITAL PROJECTS FUNDS SEPTEMBER 30, 1983 MUNICIPAL DEVELOPMEh? CITY HALL LAKEFRONT TOTALS Atmf0RITY EXPANSION DEVELOPMENT 1983 1982 ASSETS Equity in pooled cash and investments $ 26.024 $ 2.801 $ 41,894 $ 70,719 $ 18.528 Due from other governments - - 19,998 19,998 -

TOTAL ASSETS $ 26.024 $ 2.R01 $_ 61.892 $ 90.717 LM LIABILITIES AND FUND EQUITY LIABILITIES Accounts payable $ 4 $ -

$ 4 $ 6.316 Contracts /retainages payable - - - - 5,000 Accrued interest payable - - - - 19,574 TOTAL LIABILITIES S 4 $ - $ -

$ 4 $ 30,890 CONTINCENCIES AND COMMITMENTS (Note 14)

FUND EQUITY fund balances:

Designated for future expenditures $ -

S -

$ - 2,968 Undesignated - (deficit) 26,020 2.801 61.892 90,713 (15,330)

TOTAL LIABILITIES AND FUND EQUITY $ 26.024 $ 2,80} $ 61.892 $ 90.717 $ 18.528 See accompanying notes to financial statements.

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92.

CITT OF KISSI! NEE. FLORIDA COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANCES IN FUND BALANCES ALL CAPITAL PROJECTS FUNDS FOR THE YEAR FNDED SEPTEMBER 30, 1983 MUNICIPAL DEVELOPMENT CITY HALL LAKEFRONT TOTALS i AUTHORITY EXPANSION DEVELOPMENT 1983 1982 REVENUES Federal and state grants $ -

$ - $ 19.998 $ 19.998 $ -

Donation from private sources - -

4.000 4.000 -

' Interest revenue 328 93 4,554 4.975 598 TOTAL REVENUES $ 328 $ 93 $ 28,552 $ 28.973 $ 598 EXPENDITURES Ceneral Government $ - $ 252 3 403 $ 655 $ 3.658 Capital outlay 621 22.064 25.057 47,742 772,633 TOTAL EXPENDITURES $ 621 $ 22.316 $ 25,460 $ 48,397 $ 776.291

' EXCESS OF REVENUES OVER (UNDER) EXPENDITURES $ (293) $ (22.223) $ 3.092 $ (19,424) $ (775,693)

OTHER FINANCING SOURCES (USES)

Proceeds from bond anticipation notes $ -

$ 20.500 $ -

$ 20.500 $ 479.500 Operating transfers in 23.345 19.854 58.800 101.999 82.906 Operating transfers out - - - -

(598)

TOTAL OTHER FINANCING SOURCES (USES) $ 23.345 $ 40,354 $ 58,800 $ 122.499 $ 561,808 EXCESS OF REVENUES AND

.OTHER SOURCES OVER (UNDER)

EXPENDITURES AND OTHER USES $ 23.052 $ 18.131 $ 61.892 $ 103.075 $ (213.885)

FUND BALANCES AT BEGINNING OF YEAR - (deficit) 2.968 (15.330) - (12,362) 201,523 FUND BALANCES AT END OF YEAR -

(deficit) $ 26.020 9 2.801 $ 61.892 $ 00.713 $ (12.362)

See accompanying notes to financial statements.

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SPECIAL ASSESSMENT FUNDS Paving Assessments - To account for the costs of paving and drainage improve-ments. One-third of the project cost is paid by a transfer from the General Fund and .:wo-thirds is assessed to property owners.

Building Demolition Assessments - To account for the costs of demolishing condemned struc-

.tures. Costs of demolishing are assessed to the property owner.

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CITY OF KISSIMMEE, FLORIDA COMBINING BALANCE SHEET ALL SPECIAL ASSESSMENT FUNDS SEPTEMBER 30, 1983 BUILDING PAVING DEMOLITION TOTALS ASSESSMENTS ASSESSMENTS 1983 1982 I

ASSETS Equity in pooled ca h and investments $ 148,719 $ 6,689 $ 155,408 $ 233,236

! Special assessments receivable - (net of

$16,384 and $21,735 allowance for doubtful assessments) 266,496 1,022 267,518 293,128 Accrued interest on l special assessments 10,712 - 10,712 9.358 TOTAL ASSETS $ 425.927 $ 7.711 $ 433.638 $ 535.7?_1 LIABILITIES AND FUND EQUITY LIABILITIES Contracts /retainages payable $ 29,470 $ -

$ 29,470 $ 30,298 Deferred revenue 219,782 - 219,782 264,238 TOTAL LIABILITIES $ 249,252 $ -

$ 249,252 $ 294,536 CONTINGENCIES AND COF211TMENTS (Note 14)

FUND EQUITY Fund balances -

unreserved 176,675 7.711 184,386 241,186 TOTAL LIABILITIES AND FUND EQUITY $ 475.927 $ 7.711 $ 433.638 $ 535.722

)

See accompanying notes to financial statements.

96.

3 CITY OF KISSIMMEE, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL ASSESSMENT FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 BUILDING PAVING DEMOLITION TOTALS ASSESSMENTS ASSESSMENTS 1983 1982 REVENUES Intere.. earnings on investments $ 21,541 $ 251 $ 21,792 $ 27.588 Interest earnings on assessments 13,630 109 13,739 11.382 Special assessments 94,475 5,303 99.778 58.903 l Recovery of bad debts 5,351 - 5,351 -

TOTAL REVENUES $ 134,997 $ 5.663 $ 140,660 $ 97,873 EXPENDITURES

. Street paving $ 197,065 $ -

$ 197,065 $ 50,005 Puilding demolition -

395 395 327 Bad debt expense - - - 9,800 TOTAL EXPENDITURES $ 197,065 $ 395 $ 197,460 $ 60,132 EXCESS OF REVENUES OVER (UNDER) EXPENDITURES $ (62,068) $ 5.268 $ (56,800) $ 37,741 FUND BALANCES AT BEGINNING OF YEAR 238,743 2,443 241,186 203,445 FUND BALANCES AT END OF YEAR $ 176.675 $ 7.711 $ 184.386 $ 241.186 See accompanying notes to financial statements.

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ENTERPRISE FUNDS Electric Utility - To account for the provision of electric service to the resi-dents of our service area. All activities to provide such service are accounted for in this fund, including, but not limited to, administration, generation, transmission, distri-bution and customer service.

Water and Sewer - To account for the provision of water and sewer services to the residents of the City and some county residents. All activi-ties necessary to the provision of these services are accounted for in this fund, including, but not . limited to, administration, plants and line maintenance.

Airport - To account for the operation and maintenance of the municipal airport. All activities related to the airport are accounted for in this fund.

Solid Waste - To account for the provision of solid waste removal service to the residents of the City. All

. activities necessary to the l provision of this service are accounted for in this fund.

j.

L I . .. ..

_q o CITY OF EhSSifMEE. F10RIDA DJ

• COFBININC BAIMCE SREET ALL ENTTRPRISE WNDS SEPTEMBER 30 1983 WATER ELECTRIC AND SOLID TOTALS UTILITY SEbTR AIRPORT WASTE 1983 1982 ASSETS I

C11FTNT ASSETS I Eq= tty in peoled asis and investments 3 3.190.443 $ 5.680.265 $ 43.226 $ - $ 8.913.934 $ 3.462,515 l Accreed teterest recetwable - - - - -

4.670 j Accomats recetwable 2.746,005 -

4.159 -

2.750.164 2,021.655 less: allowance for doubtful accounts (32,761) - - -

'(32.761) (25,356)

Dise itce other governernes - -

16.608 - 16,608 -

Isotes recetwable - 142,399 - -

142.399 Investerv 926.107 31.145 - -

957.252 1.125.025 Frepaid expenses - - - - - 14,668 TOTAL CERRENT ASSETS $ 6,829,794 $ 5.853.909 $ 63,993 $ - $ I2.747,596 $ 6,603.177 RESTRICTED ASSETS Stahtag f undo - cash and investments $ 6,944,175 3 1,274,433 $ $1,295 $ -

$ 8.269.903 $ 12.547.837 Cowstructica funds - ca.h and investmeste 3.011,342 9.693 - - 3,021.035 16,693.138 Seed asset replacceent (med - cash and fewestments I , W.0M $c8.551 50.000 - 2.058,551 2.042.100 l

Accreed laterest recetwable 4.546 5.624 - - 9,770 -

l Castseer deposits - cash and fewesteemts 727.048 - - -

727.048 678,326

$ 12,ts6,218 $ t,794.301 $ 101,295 $ - $ 14,066,307 $ 31,961.401 FIIED ASSETS Freyerty, plant and eqstrerat (Note 3) $ 47,253,481 $ 11.229.299 $ 927,463 $ 241.614 $ 59.651.857 5 43.077,695 lese: acrimulated dettectation (10,717,245) (2,010,219) (352.577) (58,614) (13.338,654) (82,060,235)

$ 36,5%,236 $ 9.219.081 $ 374.886 $ 183.000 $ 46.313,203 $ 31.017.460 Constructice in progress (Note 3) 20,492.604 282.742 29,306 -

20.794.652 19.220.653 inventory - auclear fuel 696.935 - - -

696.935 621.486

$ 57,715.775 $ 9.501.823 $ 404.192 $ 183.000 $ 67,604,790 $ 50.859.599 OTHER ASSETS I; emet tred bced costs $ 873,649 $ 269,503 $ 6.474 $ - $ l.149.631 $ l.766,210 t'amertired master plan -

48.069 3? 852 -

83.928 38.242 Lease acq=tstttom costo - -

3.146 - 3,146 3.255 tand held for f uture ese 490.840 - - -

490.840 609.740

$ i.wa. 89 $ 3i7,57i $ 45.412 $ - $ I,721,538 $ 2.4ii.447 TOTAL ASSETS $_78 M p 76_9 $_17 471.510 $_ _ 614.952 $__183.Q $,96.366.JJ1 $ 91.841.624 LIABILITIES AND FtND FQtIITY CI13FNT LIABILITIES (FAYAELE FRO C138tKT ASSETS)

Cash overdraft $ - S -

$ 34,169 $ 34.169 $ 27,894 Accounts payable 8.406,504 13.219 9.166 6.568 1,435,457 1.212.797 Accreed tames payable 84.250 5.512 1.579 1.321 92.672 75,547 i t r 1 . .- _ . - - _- -

Accrued salaries 35,349 12.468 1,229 2.768 51,814 118,646 Depoette payable 410.707 I,609.942 - - 2.020,649 260,121 Revenues collected ta advance 269,039 -

3.084 -

270.123 26.084 Dee to etber feeds - - - - -

120.833 Obligattees under capital lease - - -

41.009 41,009 37,360 TUTAL CcmanrT LIABILITIES (FAYABLE TacM CUREDIT ASSETS) $ 2,205.859 $ 1.641.141 $ 13.058 $ 85,835 $ 3,945,893 $ I,879,272 GREENT LIABILITIES (PATABLE Frost BLSTRICTFD ASSETS)

Acceemts payable f ree constraction fonds $ 88.052 $ -

$ 88,052 $ 18.302 Acceemts peyable - etber 3.533 - - -

5.533 1,460 Ca tractsfretalmages payable free constructise funds I.604.554 - - -

1.604.554 2.315,781 Ccatractstretatnages payable - etber 22.946 24.462 - -

47.408 17.829 Accrued laterest en customer depasten 8.707 - - - 8,707 . 8.874 Accrued toterest payable - revenne bonds - -

5.345 -

5.345 1.929.419 Castemer depeetts 718.341 - - -

718.341 787.104 Bewenee bcods payable - - 15,000 - 15,000 15,000 1

TOTAL CURREXT LT451LITIES (FAYARLE FROM RESTRICTED ASSETS) $ 2.448.133 $ 24.462 $ 20,345 $ -

$ 2.492.940 $ 7.0?3.769 OTHER LIAtiLTTIES sevenue boede payable (metes 5, 6, 7. 8 & II) $ 71.500.000 $ 8.090.000 $ 260,000 $ - $ 79,850,000 $ 55,900.000 Mitgattoms order capital lease (Note I4f) - - -

42.204 42,204 83.636 less: esmertired bouwt disecent (9.618.705) (293.333) (I,798) - (9.913,836) (1,644,499)

$ 64,981.295 $ 7,7%,667 $ 258,202 $ 42.204 $ 69.918,36I $ 54,339,137 CDNTI%TNCIES AIED CupetITMENTS (Note 14)

FUND FQUITY Contributed capital (Note 20):

Covernments $ -

$ 387.789 $ 578,719 $ -

$ 966,508 $ 854.663 l Frtwate sources - 3.527,804 3.575 - 3,531.379 1.972.843 Other feeds -

3.528 65.615 43.126 110.262 108.399

$ 3.987.184 $ 647.909 $ 43,126 $ 4.608,149 $ 2.935,905 Retataed caretags:

Reserved for rewee e bead retirement S 6.948.321 $ l.255.595 $ 33.450 $ - $ 8.237.366 $ 7,I80,077 Reserved for bond asset replacement 1.471.520 568.551 50.000 - 2.030,071 2,042.100 Unreserved - (def tett) (Note 17A) 3,141.641 2.327,980 (408.012) 11,835 5.073.444 16,441,364

$ 11,561.482 $ 4,092,126 $ (324,562) $ 11,835 $ 15.340.881 $ 25,663.548 TOTAL FLTD EQUITY $ 18,561.482 $ 8.009,240 $ 323,347 $ 54,% I $ 19.949,030 $ 28.599,446 TOTAL LIABILITIES AIED Fl:MD EQUITY $_78.096.769 _S 17.471.310 $ 614.952, S 183.0 _00 ,5 96.366,.,231 ,$_91.841.624 O

La See accespanying notes to finsactal statements.

CITT OF KISSIMMEE, FLORIDA COMBININC STATDiENT OF REVENUES. EXPENSES AND CHANCES IN RETAINED EARNINGS ALL ENTERPRISE FL'NDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 WATER ELECTRIC AND SOLID TOTALS UTILITY SEVER AIRPORT _

WASTE 1983 1982 0FFRLflNC REVENUES Metered sales 3 24.347.164 $ 1.860.228 $ - $ -

$ 26.207.392 $ 20.795.017 Sales to othee utilities 116.685 - - - 116,685 528,161 Lease revenue - -

132.896 -

132.896 107.315 Solid weste disposal fees - - - 295,474 295.484 263.130 Other operating revenues 242.998 795 305 67.785 311,883 186,203 TOTAL OPERATING ksVENUES $ 24.706.847 $ 1,861,023 $ 133,201 $ 363 3 $ 27,064.340 $ 21,879,826 OPERATINC EXPENSES Power generation $ 5.718.460 $ -

$ - $ - $ 5.718.460 $ 4.073,675 Purchased power 9.486.552 - - -

9.486.552 8.217.056 Transmission 345.633 - - -

345.633 250.299 Distribution 741.607 424,283 - -

1.165.890 1,029.740 Plant operations -

852.105 - -

852.105 719.088 Airport operations - -

125.456 -

125.456 87.337 Solid waste operations - - -

304.335 304.335 264.143 Administrative and general 1.764.421 538.403 -

33.797 2.336.621 2.104.852 Depreciation 1,032.233 202,049 21,657 27,419 1.283.358 1.182,980 TOTAL OPERATING EXPENSES $ 19,088,906 $ 2,016,840 $ 147,113 $ 365,551 $ 21,6t8,410 $ 17,929,170 OPERATING INCOME (LOSS) $ 5.617.941 $ (155,817) $ (13,912) $ (2,282) $ 5,445.930 $ 3,950,656 NONCPERATING REVENUE (EXPENSES)

Interest revenue $ 1.643.283 $ 736.882 $ 18.557 $ - $ 2,398.722 $ 1.877,261 Tap fees -

131.684 - - 131,684 70.634 Operating grants -

5.567 10.048 -

15.615 -

tuterest expense (2.439.184) (583.777) (16.529) (10.320) (3.049.810) (2,097.695)

Amortisation expense (268.295) (36.597) (3.111) -

(308.003) (93.121)

Loss on disposition of fixed sesets - - - - - (155)

TOTAL NONOPERATING REVENUE (EXPENSES) $ (1,064,196) $ 253,759 $ 8,965 $ (10.320) $ (811,792) $ (243,076)

INCUME (LOSS) BEFORE OPERATING TRANSTERS AND EXTRAORDINARY ITEM $ 4,553.745 $ 97,942 $ (4,947) $ (12,602) $ 4,634,138 $ 3,707,580 OPERATING TRANSFERS operating transfers in 8 -

$ - $ 29.363 $ 29,363 $ 19.523 Operating transfers out (1,600,000) - - - (1,600,000) (1,450,000)

TOTAL OPERAT7NC TRANSTERS $ (1,600,000) $ - $ - $ 29,363 $ (1.570,631) $ (1,430,477)

INCOME (LOSS) BEFORE EXTRAORDINARY ITEM $ 2.953.745 3 97.942 $ (4.947) $ 16.761 $ 3.063.501 $ 2.277.103

_t1TRA0RDINARY ITEM Gain (loss) on advance refunding (Note 16) (13,386,161) - - - (13,386,161) 8,529,765 Nt? INCOME (1.035) $(10,612.416) $ 97.942 $ (4.947) $ 16,761 $(10.322.660) $ 10.806.868 RETAINED EARNINGS AT BFGINNING OF YEAR -

(deficit) 21,993,898 3.994,184 (319,615) _

(4.926) 25,663,541 14,856,673 RETAINFD FARNtNCS AT IliD OF YEAR - (deficit) $ 11.561.482 $ 4.092.12A $ (324.562) $ 11.815 9 15.340.!81 9 25.663.541 See accompanying notes to financial statements.

104.

I

I CITT OF KISSIM EE. FLORIDA FACE 10F 2 COMBININC STATEMENT OF CHANGES IN FINANCIAL POSITION ALL ENTERPRISE FUNDS FOR THE TEAR ENDED SEPTEMBER 30. 1983 WATER ELECTRIC AND SOLID TOTALS UTILITY SEWER AIRPORT WASTE 1983 1982 SOURCES OF WORKING CAPITAL ,

From operations:

Income (loss) before extraordinary ites .$ 2.953.745 $ 97.942 $ (4.947) $ 16.761 $ 3.063.501 $ 2.277.103 Adds Expenses not creating current liabilities or using current assets -

' depreciation and amortisation 1.300,528 238.646 24.768 27.419 1.591.361 1.276.101 WORKING CAPITAL PROVIDED FROM OPERATIONS EXCLUSIVE OF.EXTRAORDINART ITIN $ 4.254.273 $ 336.558 $ 19.821 $ 44.180 $ 4.654.862 $ 3.553.204 i Emersordinary item not f

providing t.orking l capital (Note 16) (13.386.161) - - -

(13.386.151) 8,529.765

$ (9.131.888) $ 336.588 $ 19.821 $ 44.180 $ (8.731.299) $ 12.082.969 1

Disposal of property and equipment not of accumulated depreciation 15.026 - - -

15.026 62.039 Froceeds from long-teru

. debt 61.662.688 - - -

61.662.688 44.674.255 Contributions (Note 20) - 1.609.994 60.387 1.863 1.672.244 322.877-Decrease in restricted assets 17.670.984 193.034 288 10.788 17.875.094 47.500 Increase in liabilities ,

payable free restricted assets - 17.713 - -

17.713 6.145.468 Decrease in other assets. 689.528 - -- -

689.528 -

TOTAL $0URCES OF WORKING CAPITAL $ 70.906.338 $ 2,157.329 $ 80.496 $ 56.831 8 73.200,994 $ 67.335.108 APPt.ICATIONS OF WORKING CAPITAL Acquisition of fixed assets $ 17.529.743 $ 625.304 $ $0.922 $ 37.606 $ 18.243.575 $ 22.718.471 Retirement of long-tern s

=

debt- 46.177.926 35.000 15.000 41.432 46.269.358 25.570.658 Increase in restricted sesets. - - - - -

19.577.466

! Increase in other assets - 61.721 - -

61.721 835.177

. Decrease in contributions - - - - - 97.833 Decrease in liabilities

' payable from restricted assets 4.548.255 -

287,' -

4.548.542 72.635 TOTAL APPLICATIONS OF WORKING CAPITAL $ 68,255.924 $ 722.025 $ 66.209 $ 79.038 $ 69.123.196 $ 68.872.240 NET INCREASE (DECREASE)

IN WORKING CAPITAL 9 2.630.414 g9 14.287 $ (22.207) g S ft.317 g t-See accompanying notes to financial statements.

i 105.

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CITY OF KISSIMMEE FLORIDA PAGE 2 0F 2 COMBINING STATEMENT OF CHANCES IN FINANCIAL POSITION ALL ENTERPRISE FUNDS FOR THE YEAR ENDED SEPTDtBER 30, 1983 WATER ELECTRIC AND SOLID TOTALS UTILITY SEWER AIRPORT WASTE 1983 1982 C0KPONENT ELDfENTS OF NET INCREASE (DECREASE) IN WORKING CAPITAL Equity in pooled cash and investments $ 2.556.798 $ 2.910,624 $ (16.003) $ -

3 5.451.419 $ (1.452.956)

Accrued interest receivable -

(4.670) - -

(4.670) 55.117 Accounts receivable 724.781 -

(3.677) -

721.104 (11.792)

Notes receivable -

142.399 - -

142.399 -

Due from other governments - -

16.608 - 16,608 -

Inventory (142.374) (11.236) -

(14.163) (167.773) 223.387 Prepaid expenses (11.326) (1.826) (825) (691) (14.668) (24.135)

Cash overdraft - - -

(6.275) (6.275) (27.894)

Accounts payable (206.778) (6.087) (8.885) (920) (222.670) (202.325)

Accrued liabilities 28,105 16.042 2.069 3.491 49.707 28,627 Deposits payable (150.586) (1.609.942) - -

(1.760.528) 56.183 Obligations under capital lease - - -

(3.649) (3.649) (37.360)

Revenues collected in advance (269.039) -

25.000 -

(244.039) (23.151)

Due to other funda 120.833 - -

- 120,833 (120.833)

NET INCREASE (DECREASE)

IN WORKING CAPITAL $ 2.650.414 $ 1.435.304 $ 14.287 $ (22.207) $ 4.077.798 $ (1.537.132)

See accompanying notes to financial statements.

I 106.

~ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

INTERNAL SERVICE FUNDS Central. Services - To account for the costs of operating centralized services (Data Processing, Warehouse,

-Central Garage, Building Maintenance, Printing / Graphics) of the City. Costs are billed to other City departments at actual cost.

Self-Insurance - To account for the provision of health and life insurance benefits to City employees and dependents. The City pays employee premiums and employees pay dependent premiums.

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CITY OF KISSIMMEE, FLORIDA COMBINING BALANCE SilEET ALL INTERNAL SERVICE FUNDS SEPTEMBER 30, 1983 ASSETS CENTRAL SELF-SERVICES INSURANCE TOTALS (Note 21) (Note 22) 1983 1982 CURRENT ASSETS Equity in pooled cash and investments S 86,186 $ -

$ 86,186 $ 26,220 Inventory 55,810 - 55,810 -

TOTAL CURRENT ASSETS $ 141,996 $ -

$ 141,996 $ 26,220 FIXED ASSETS Property, plant and equipment (Note 3) $ 217,689 $ -

$ 217,689 $ 60,982 less: accumulated depreciation (25,565) - (25,565) (7.292)

$ 192.124 $ -

$ 192,124 $ 53,690 Construction in progress 100,837 - 100,837 -

$ 292,961 $ -

$ 292,961 $ -

l TOTAL ASSETS $ 434,957 $ -

$ 434,957 $ 79,910 l

See accompanying notes to financini statements.

108, 1

1 LIABILITIES AND FUND EQUITY CENTRAL SELF-SERVICES INSURANCE TOTALS (Note 21) (Note 22) 1983 1982 CURRENT LIABILITIES Cash overdraft $ , $ 17,777 $ 17,777 $ -

. Accounts payable 6,498 39,413 45,911 459 (Accrued taxes payable 2,801 - 2,801 521

. Accrued' salaries payable 7,407- - 7,407 3,222 TOTAL CURRENT LIABILITIES- $ 16,706 l$ 57,190 $ 73,896 $ 4,202 CONTINGENCIES AND COMMITMENTS (Note 14)

FUND EQUITY Contributed capital' (Note 20):-

Governments- $ 28,388 $ -

$ 28,388 $ 28,388 Other funds- 235,445 - 235,445 32,594

$ 263.833 $ -

$ 263,833 $ 60,982 Retained earnings -

-unreserved - (deficit)

. (Note'17B) $ 154,418 $ (57,190) $ 97,228 $ 14,726

- TOTAL FUND EQUITY -

(deficit) $ 418,251 $ (57,190) $ 361,061 $ 75,708 TOTAL LIABILITIES AND 434,957 $ - 434,957 $ 79,910 FUND EQUITY h.

109.

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. _ _ _ i

CITY OF KISSIMMEE, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 CENTRAL SELF-SERVICES INSURANCE TOTALS (Note 21) (Note 22) 1983 1982 OPERATING REVENUES City contribution $ -

$ 206,310 $ 206.310 $ -

Employee contributions - 93,306 93,306 -

Charges for services:

Other funds 638,142 -

638,142 180,509 Others 13,699 -

13,699 14,811 Miscellaneous revenue 480 -

480 -

TOTAL OPERATING REVENUES $ 652,321 $ 299,616 $ 951,937 $ 195,320 OPERATING EXPENSES Data Processing $ 168,528 $ -

$ 168,528 $ 173,302 Warehouse 128,242 -

128,242 -

Central Garage 96,239 -

96,239 -

Building Maintenance 74,685 -

74,685 -

Printing / Graphics 35,014 -

35,014 -

Employee claims - 171,269 171.269 -

Dependent claims -

118,269 118,269 -

Insurance premiums - 53,519 53,519 -

Claims administration costs - 16,379 16.379 -

Depreciation 20,121 -

20.121 7,292 TOTAL OPERATING EXPENSES $ 522,829 $ 359,436 $ 882.265 $ 180,594 OPERATING INCOME (LOSS) $ 129,492 $ (59,820) $ 69.672 $ 14,726 NONOPERATING REVENUES (EXPENSES)

Interest revenue $ 12,513 $ 2,630 $ 15.143 $ -

Loss on disposition of fixed assets (2,313) -

(2,313) -

TOTAL NONOPERATING REVENUES (EXPENSES) $ 10,200 $ 2,630 $ 12,830 $ -

NET INCOME (LOSS) $ 139,692 $ (57,190) $ 82,502 $ 14,726 RETAINED EARNINGS AT BEGINNING OF YEAR 14,726 -

14,726 -

RETAINED EARNINGS AT END OF YEAR - (deficit) $ 154.418 $ (57.190) S 97.228 $ 14.726 See accompanying notes to financial statements.

l 110.

CITY OF KISSIMMEE, FLORIDA LOMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION ALL INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 CENTRAL SELF-SERVICES INSURANCE TOTALS (Note 21) (Note 22) 1983 1982 SOURCES OF WORKING CAPITAL From operations:

Net income-(loss) $ 139,692 $ (57,190) $ 82,502 $ 14,726 Add: Expenses not creating, current liabilities or using current assets -

depreciation 20,121 -

20,121 7,292

$ 159,813 $ (57,190) $ 102,623 $ 22,018 Disposition of property and equipment net of accumulated depreciation 2,662 -

2,662 ,

Contributions (Note 20) 202,851 - 202,851 60,982 TOTAL SOURCES OF WORKING CAPITAL $ 365,326 $ (57,190) $ 308,136 $ 83,000 USES OF WORKING CAPITAL Acquisition of fixed L assets- 262,054 - 262,054 60,982 NET INCREASE (DECREASE) IN WORKING CAPITAL $ 103.272 $ (57.190) $ 46.082 $ 22.018 COMPONENT ELEMENTS OF NET INCREASE (DECREASE) IN-WORKING CAPITAL Equity in pooled cash and investments S 59,966 $ -

S 59,966 $ 26,220 Inventory 55,810 -

55,810 -

Cash overdraft - (17,777) (17,777) -

Accounts payable (6,039) (39,413) (45,452) (459)

Accrued taxes payable (2,280) - (2,280) (521)

Accrued salaries payable (4,185) - (4,185) (3,222)

NET INCREASE (DECREASE) IN WORKING CAPITAL $ 103.272 $ (57.190) $ 46.082 $ 22.018 See accompanying noten to financial statements.

111.

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FIDUCIARY FUND TYPES ;

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{

I TRUST AND AGENCY FUNDS Expendable Trust Fund-Saction 8 H.A.P.P. - To account for the receipt of federal

mon.te s designated for housing cost assistance and the related expendi-tures for housing cost assistance and "

administration of the program.

r Nonexpendable Trust Fund Supplemental Care - .To account for monies provided by pe'ople buying supplemental care in the City cemetery. Principal and in-  ;

totest will be cetained in the fund  :

t.hrough fiscal year 1984. After l this, interest may be transferred to '

the General Fund to defray the cost of . ceme te ry operation and i

taaintenance.

Pension Trust Funds:

General Employees - To account for the accumulation of 1 l

' resourens to be used for the retire- l ment annuities of all employees, f l except police officers and firemen.  ;

i Fmployees pay a flat rate as deter-  !

mined by the pension plan and the '

I City contributes an amount determined  !

by an annual actuarial study.  !

Police Officers - .

To account for the accumulation of resources to be used for the retire-ment annuities of all police officers. The state contributes money based upon the number of police i officers and the City contributes an '

amount determined by an annual actuarial' study.

Firemen - .

To account for the accumulation of resources to be used for the retire-  !

ment annutties of all firemen. The state contributes noney based upon

[

' the number of firemen and the City contributes an amount determined by  ;

su annual actu. trial study.

Agency Fundet '

Payroll - To account for the receipt of monies from various funds for gross payroll and the disbursement of not payroll and related employee liabilities.

Occupational License - To accoant for the receipt and dis- l bursement to the General Fund of City Occupational occupational licenses.

11eenees are pledged for payment of debe service on FmHA Bonds.  !

w-_-_---_______

CITY OF KISSIMMEE. FLORIDA COMBINING BALANCE SilEET ALL TRUST AND AGENCY FUNDS SEPTEMBFR 30 1983 TRUST NON-EXPENDAllt.E EXPENDABLE SECTION 8 SUPPLEMENTAL CENERAL li . A . P . P . CARE EMPLOYEES' ASSETS, Equity in pooled cash and investments S 94.247 $ 26,483 $ -

Pension cash and investmenta - -

3.447.463 Accrued interest receivable - - 71,871 Accounts receivable - miscellaneoun 1,380 - -

Prepaid expensen 23,682 - -

TOTAL ASSETS 1 Il9.J Q ,$_ _ 2h gl g $ 3.519d]/;,

LIABILITIES AND FUND EQUITY LIABILITIES Accounts payable $ - $ -

Taxes to be remitted - - -

Due to Cencral Fund 12,802 - -

Advance from General Fund - - -

Due to other governments 39,947 - -

Revenuen collected in advance 30,925 - -

TOTAL LIABil.ITIES $ 83,674 $ - $ -

CONTINCFNCIES AND C0tm1THE4TS (Note 14)

FUND EQUITY Fund balnncent Reserved for employeen' retirement nyntemn $ -

$ - $ 3.519,334 Unreserved 35,635 26,483 -

t TOTAL FUND I:QUITY $ 35,635 $ 26,483 $ 3.519,334 TOTAL LI ABil.IT!!:S AND FUND 1:qUITY $___1,11.),g ,$ _ 2pj,/g Q 1Q g i

l See accompanying noten to financial statements.

116

.. __- - - - _ __ _ _ _ _ __ )

AGENCY PENSION

~(Note 13)

POLICE OFFICERS' FIREMEN'S OCCUPATIONAL TOTALS RETIREMENT RETIREMENT PAYROLL LICENSE 1983 1982

$ 55,048 $ 53,899 $ 229,677 $ 196,815 1,255,507 695.461 - - 5.398,431 4.343,367 22,951 12,043 - - 106,865 90,786

- - - - 1,380 -

- - - - 23,682 26,811

$ 1.278.458 $ 707.504 $ 55.048 $ 53.899 $ 5.760.035 $ 4.657.779

.$ 4,856 $ -

$ 4,856 $ 1,869 50,192 - 50,192 28,323

- - - 53,899 66.701 66,786

- - - - - 2,000

- - - - 39,947 40,686 30.925 30,735

$ 55,048 $ 53.899 $ 192,621 $ 170,399

$ 1,278,458 $ 707,504 $ -

$ - $ 5,505,296 $ 4,434,153 1 - - - 62,118 53,227

$ 1.278,458 $ 707,504 _$

$ - $ 5,567,414 $ 4,487,380

$ 1.278.458 $ 707.504 $ 55.048 $ 53.899 $ 5.760.035 $ 4.657.779 117.

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l 1

l CITY OF KISSIMMEE, FLORIDA i l

STATEMENT OF REVENUES, EXPENDITURES AND  !

1 CHANGES IN FUND BALANCE l

EXPENDABLE TRUST FUND FOR THE YEAR ENDED SEPTEMBER 30, 1983 SECTION 8 H.A.P.P. l 1983 1982 l REVENUES ,

Intergovernmental - federal grants S 351,100 $ 358,263 TOTAL REVENUES- $- 351,100 $ 358,263 EXPENDITURES Welfare expenditures:

Administrative' salaries and expenses $ 44,313 $ 35,434 Nonexpendable equipment -

140 Housing Assistance payments 301,594 313,829 TOTAL' EXPENDITURES $ 345,907 $ 349,403 EXCESS OF REVENUES OVER EXPENDITURES $ 5,193 $ 8,860 FUND BALANCE AT BEGINNING OF YEAR- 30,442 21,582 FUND BALANCE AT END OF YEAR $ 35.635 $ 30.442 i

I O

See accompanying notes to financial statements.

1 I

~ 118'.

CITT OF KISSIMEE. TLORIDA COMBINING STATEMENT OF REVENUES. EXPENSES AND CHANCES IN FUND BALANCES ALL NONEXPENDABLE AND PENSION TRUST FUNDS FOR THE YEAR FNDED SEPTEMBER 30, 1983 NON-EXPENDABLE PENSION (Note 13)

POLICE SUPPLDIENTAL GENERAL OFFICERS' PIREMEN'S TOTALS CARE EMPLOYEES' RETIREMENT RETIREMENT 1983 1982 OPERATINC REVENUE 5 Interest $ 3.198 $ 384,945 3 141.726 $ 76.134 $ 606.003 $ 375.083 Contribution by employees -

121.133 - -

121.133 111.114 Contribution by City -

307.364 95.505 47.856 450.725 307.963 contribution by state - -

51.162 34.773 85.935 70.517 Supplemental care 500 - - - 500 2,250 TOTAL OPERATING REVENUES $ 3,698 $ 813.442 $ 288.393 $ 158,763 $ l.264,296 $ 866.927 OPERATING EXPENSES Benefit payments $ -

$ '79.589 $ 15.229 $ 12.466 $ 107.284 3 87.714 Refunds of contributions -

22.179 3.354 -

25.533 17.421 Miscellaneous costs -

34.004 13,883 8.751 56,638 47,313 TOTAL OPERATINC EXPENSES $ - $ 135.772 $ 32,466 $ 21.217 $ 189,455 $ 152,448

-NET INCOME $ 3.698 $ 677.670 $ 255.927 $ 137.546 3 1.074.841 $ 714.479 FUND BALANCES AT BEGINNINC 0F YEAR 22,785 2.841,664 1.022,531 569.958 4,456.938 3,742,459 FUND BALANCES AT END OF YEAR $ 26.483 $ 3.519.334 $ 1.278.458 9 707.504 $ 5.531.779 $ 4.456.939 See accompanying notes to financial statements.

4 119.

1

r-CITT OF KISSI NEE, FLORIDA COMBINING STATIMENT OF CHANGES IN FINANCIAL POSITION ALL NONEXPENDABLE AND PENSION TRUST PIMS FOR THE TEAR ENDED SEPTEMBER 30. 1983 NON-EXPENDABLE P DSION (Note 13)

POLICE SUPPLEMENTAL CENERAL OPTICERS' FIREMEN'S TOTALS CARE EMPLOYEES' RETIREMENT RETIREMENT 1983 1982 ,

SOURCES OF WORKING CAPITAL

Operations -

-Net incoes. $ 3.698 $ -677.670 $ 255.927 $ 137.546 $ 1.074.841 $ _ 714.479 APPLICATIONS OF WORKINC CAPITAL - - - - - -

NET INCREASE IN WORD.Ihc CAPITAL $ 3.698 $ 677.670 $ 25s.927 $ 137.s46 $ 714.479

' COMPONENT ELEMENTS OF NET ^

WORKING CAPITAL Equity in pooled cash and investments $ 3.698 $ - $ - $ - $ 3.698 $ 4.888-Pension cash and investments -

666.152 253.117 135.795 1.055.064 696.340 Interest receivable -

11.518 2.810 1.751 16.079 13.251 NET INCREASE IN WORKING CAPITAL $ 3.698 $ 677.670 $ 2ss.927 $ 137.546 $ 1.074.841"$ 714.479 See accompanying notes to financial teatements.

)

' 120.,

f CITY OF KISSIMMEE, FLORIDA COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1983 BALANCE BALANCE OCTOBER 1 SEPTEMBER 30, 1982 ADDITIONS DEDUCTIONS 1983 PAYROLL FUND Asseta Equity in pooled cash and investment 1 $ 31,431 $ 11,568,343 $ 11.544,726 $ $5,048 Prepaid expenses 761 20,178 20,939 -

$ 32.192 9 11.588.521 $ 11.565.665 $ 55.048 Liabilities:

Accounts payable $ 1,869 $ 2.452,008 $ 2,449,021 $ 4.856 Taxes to be remitted . 28,323 1.450,015 1,428,146 50,192 Advance from General Fund 2, 000 - 2,000 -

$ 32.192 $ 3.902.023 $ 3.879.167 $ 55.048 OCCUPATIONAL LICENSE TUND Assets:

Equity in pooled cash and investments 9 56.911 $ 125.444 $ 128.456 $ 53.899

. Liabilities:

Due to General Fund $ 56.911 j,, 125.444 $ 129.456 $ $3.899 TOTALS - ALL AGENCY FUNDS Assets:

Equity in pooled cash and investments S 88,342 $ 11,693,787 $ 11,673,182 $ 108,947 Prepaid expenses 761 20,178 20.939 -

$ 89.103 $ 11.713.965 $ 11.694.121 $ 108.947 Liabilities:

Accounts payable $ 1,869 $ 2,452,008 $ 2,449,021 $ 4,856 Taxes to be remitted 28,323 1.450,015 1.428,146 50,192 Due to Ceneral Fund 56,911 125,444 128,456 53,899 Advance from General Fund 2,000 - 2,000 -

$ 89.103 $ 4.027.467 $ 4.007.623 $ 108.947 See accompanying notes to financial statements.

121.

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1

GENERAL FIXED ASSETS ACCOUNT GROUP To account for fixed assets not used in proprietary fund operations or accounted for in trust funds.

CITY OF KISSIMMEE, FLORIDA SCHEDULE OF GENERAL FIXED ASSETS SEPTEMBER 30, 1983 GENERAL FIXED ASSETS (Note 3)

Land $ 359,700 Buildings 1,804,885 Equipment 1,761,133 Improvemente other than buildings 367,901 Construction in progress 4,975 TOTAL GENERAL FIXED ASSETS $__ ,4. 2 98. 594 INVESTMENT IN GENERAL FIXED ASSETS Amounts invested to October 31, 1971 (1) $ 861,832 Amounts invested after November 1, 1971:

General Fund revenues 1,547,600 State and federal grants 680.131 Gifts and contributions 67,718 Capital projects 1,141,313 TOTAL INVESTMENT IN GENERAL FIXED ASSETS _S___4.298.594 l

(1) Investment records are not readily available for years prior to November 1, 1971.

See accompanying notes to financial statements.

124.

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CITT OF KISSIMMEE, FLORIDA SCHEDULE OF CENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY SEPTENBER 30, 1983 i

, IMPROVEMENTS MACHINERY OTHER THMI AND I FUNCTION AND ACTIVITY TOTAL LAND BUILDINGS BUILDINGS EQUIPNENT CENERAL GOVERNMINT City Manager $ 111,275 $ -

$ 41.482 $ -

$ 69.793 Community Development 39.591 - - 20,862 18.729 Finance 47.368 - - - 47,368 Personnel 1,841 - - -

1.841 General Government buildings 974,902 88,577 884.509 1,816 -

TOTAL CENERAL GOVERNMENT $ 1,174,977 $ 88,577 $ 925,991 $ 22,678 $ 137,731 PUBLIC SAFETY Police $ 1,033.115 $ 93,661 $ 298.081 $ 37.057 $ 604,316 Fire 716,553 - 369,879 2.863 343,811 Inspection 28,868 - - - 28,868 TOTAL PUBLIC SAFETT $ 1,778,536 $ 93,661 $ 667,960 $ 39,920 $ 976,995 PUBLIC WORKS $ 685,625 $ 20,041 $ 7,024 $ 100,770 $ 557,790 CULTURE / RECREATION $ 654,481 $ 157,421 $ 203,910 $ 204,533 $ 88,617 TOTAL CENERAL FIXED ASSETS ALLOCATED TO FUNCTIONS $ 4,293.619 S 359.700 $ 1.804.885 S 367.901 S 1.761.133 CONSTRUCTION IN PROGRESS 4.975 l TOTAL GENERAL FIXED ASSETS $ 4.298.594 l

See accompanying notes to financial statements.

125.

l' CITY 0F KISSIMMEE, FLORIDA

. SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS -

BY FUNCTION AND ACTIVITY FOR THE YEAR ENDED SEPTEMBER 30, 1983 BALANCE BALANCE :l OCTOBER 1 - SEPTEMBER 30, l FUNCTION AND ACTIVITY 1982 ADDITIONS DELETIONS 1983

. GENERAL-GOVERNMENT City. Manager; $ 75,025 $ 48,120 $ 11,870 $ 111,275 Community Development 19,585 20,862 856 39,591 Finance 44,639 2,945 216 47,368 Central Services. 228,525 -

228,525 -

Personnel -

1,841 - 1,841 General' Government

~ buildings 971,074' 3,828 - 974,902

- TOTAL GENERAL ' GOVERNMENT $ 1.338,848 $ 77,596 $ 241,467 $ 1,174,977 PUBLIC' SAFETY-

. Police -- $ 953,036 $ 135,194 $ 55,115 $ 1,033,115

' Fire 693,104 30,232 6,783 716,553 Inspection 24,423 7,181 2,736 28,868 TOTAL PUBLIC SAFETY. $ 1,670,563 $ 172,607 $ 64,634 $ 1,778,536

-PUBLIC WORKS- $ 674,070 $ 44,070- $ 32,515 $ 685,625 CULTURE / RECREATION $ 623,159 $ 34,107 $ 2,785 $ 654,481' ,

l CONSTRUCTION IN PROGRESS $ 1,062 $ 4,975 $ 1,062 $ 4.975

1. TOTALS ' $ 4.307.702 $ 333.355 $ 342.463 $ -4.298.594 l

ll i

w See accompanying notes to financial statements, l

126.

u r

?

SCHEDULES

- Financial schedules are presen'ted to provide greater detailed information than reported in the preceding financial statements.

This information in many cases has been spread throughout the report and is brought together here for greater clarity. Financial schedules are not necessary for fair presentation in conformity

-with Generally Accepted Accounting Principles.-

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t_

CITY OF RISSIMEE, FLCCIDA .

SCHEDULE OF FIXED ASSETS AND DEPRECIATION ELECTRIC ITT!LITT FUND .

FOR THE YEAR ENDED SEPTEMBER 30, 1983 ASSETS ACCUMULATED DEPRECIATION BALANCE ADDITIONS BALANCE BALANCE BALANCE SEPTEMBER 30, OCTOBER 1. SEPTEMBER 30 NET OCTOBER 1 AND.

1982 DEIETIONS 1983 1982 DEPRECIATION RATE 1983 'ASSIT VALUE

$ 3,033,412 $ 3,996 $ 3,037,408 $ 444,229 $ 86,060 3% $ 530.289 $ 2,507,119 Nuclear production other production 7,444,448 14.335,834 21,780.282 3,188,465 220,842 3% 3,409.307 18.370,975 Transmisdon plant 6.759,614 241,654 7,001,268 586,238 164,163 2 - 4% 750,401 6.250,867 Distribution plant 12,716,614 1,508.135 14,224.749 5,058,056 484,385 2.5 - 4% 5.542,441 e,682.308 1,187.100 22,674 1,209,774 412,963 71,844 3 - 10% 484,807 724,967 Ceneral TOTALS $ 31.141.188 $ 16.112.293 $ 47.253.481 $ 9.689.951 $ 1.027.294 $ 10.717.245 $ 3( .536_J)f; See accompanying notes to financial statements.

M

C CITY OF RISSiletEE, FLORIDA SCHEDULE OF FINED ASSETS AND DEPRECIATION WATER AND SEWER FUND FOR THE YEAR ENDED SEPTEMBER 30, 1983 ASSETS ACCUMULATED DEPRECIATION BALANCE ADDITIONS BAIANCE BAIANCE BAIANCE OCTOBER 1 AND SEPTDIBER 30, OCTOBER l. SEPTEMRER 30 NET 1982- DELETIONS 1983 1982 DEPRECIATION PATE 1983 ASSET VAltlE WATER PIANT IN SERVICE Property and plant $ 66.523 $ -

$ 66.523 $ 11.309 $ 1,330 rachinery and equipment 2% $ 12,639 $ 53,884 68.928 5.232 74.160 42.940 10.561 20% 53.501 Highlands plant - land 20.659 6.000 -

6.000 - - -

Highlands plant - machinery 6.000 and equipment 125.408 ' -

125.408 15.049 . 2,508 22 17.557 107,851 Water lines 3.134,279 158,384 3,292,663 710,059 62,686 22 772.745 2.519,918 TOTAL WATER PLANT IN SERVICE $ 3.401,138 $ 163.616 $ 3,564,754 $ 779,357 $ 77,085 $ 856,442 $ 2,708,312 SEVER PIANT IN SERVICE Pre-1954 system 398.098 $

land

$ 398.098 $ 312,010 $ 5.971 1.5Z $ 317.981 $ 80.117 I.518.366 4.775 1.523.141 - - - -

1,523,141 Sever treatment plants 3.351.738 10,144 3.361,882 381,203 Highlands additions 67.587 22 448.790 2.913.092 190.051 -

190.05I 22,806 3,80I 22 Sewage lines 26.607 163.444 1.507.708 186.059 1,693,767 138,155 15.077 12 Lift stations 153.232 1.540.535 243.913 9,540 253.453 66,721 4,878 21 71,599 Equipment 215,640 28,513 181.854 244.153 107.917 27.650 16.662 135.567 108,5M.

TOTAL SEWER PLANT IN SERvlCE $ 7,425.514 $ 239,031 $ 7.664,545 $ l.028.812 $ 124.964 $ 1,153,776 $ 6.510,769 M AI.S j 826._652 $

$_I_0 402. g $_11.27_9.23 $__1.808_.169, $___ _2_02.049 $_ 2.01,0. 2.,I 8 $__9.219.081_

See accompanying noten to financial neatements.

CITT OF KISSIMIEE, FIDRIDA SQlEDULE OF FINED ASSF.TS AND DEPRECIATION AIRPORT FUND FOR THE YEAR ENDED SEPTEMBER 30, 1983 ASSETS ACCUMULATED DEPRECIATION RAtJNCE ADDITIONS BALANCE RAIJUSCE BALANCE OCTosER 1, AND SEPTEMBER 30, OCTORC I, SEPTEMBER 30 NET 1982 DELETIONS 1983 1982 DEPRECIATION RATE 1983 ASSET VALUE tand $ 7,973 $ -

$ 7,973 $ -

$ 7.973 Land improvements 3,037 - 3,037 - - - -

3.037 Buildings 241,301 - 241,301 125,285 4,468 5 - 10% 129,753 111.548 Runway improvements 450,052 20,000 470,052 321.058 7,865 5.3 - 5.9I 328,923 141.129

. soprovements other than buildings 166,177 -

166.177 66.561 5.721 3.8 - 7.6% 72,282' 93,895 Equipment 37,307 1,616 38,923 18,016 3,603 9 - 14Z 21,619 17,304 TOTALS 905.847 $ 927.463 $ 530.920 $- 21.657

$_ 21.616 $ $_ 552.577 $ 374.8_86_

See accompanying notes to financial statements.

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CITY OF KISSIMMEE, FihRIDA  ;

SCHFDULF. OF FIIED ASSETS AND DEPRECIATION SOLIP WASTE FUND FOR THE YEAR ENDED SEPTFHBER 30 1983 ASSETS ACCUMULATED Dt.FRECIATION BALANCE ADDITIONS TALANCE BALANCE BAIANCE OCTOBFR 1. AND SFITEMBER 30 OCTOBFR I, SEPTEMBER 30, NET 1982 del.ETIONS 1983 1982 DEFRECIATION RATE 19R3 ASSET VALUE l

Carbage trucks $ 193.804 $ 35,744 $ 229,548 $ 30.251 $ 25.439 12.5 % $ 55,690 $ 173.858 Other equipment 10,204 I,862 12,066 944 I,980 10 - 201 2,924 9,142 l

l TOTALS $ 204.009 $ 37.606 $ 241.614 $ 31.195 $ 27.419 $ 58.614 $ 1R3.000 See accrmpanying notes to financial statements.

CITT OF KISSIP9 TEE Fl4RIDA SCHEDULE OF FIXED ASSETS AND DEPRECIATION CENTRAL, SERVICES TVND FOR THE TF.AR ENDED SEPTEMBER 30. 1983 ASSETS ACCUMULATED DEPRECI ATI(48 BAIJMCE ADDITIONS BALANCE BALANCE BALANCE OCTOBER I. AND SEPTEMBER 30, OCTOBER I. . SEPTEMBER 30 NET 1982 DELETIONS 1983 1982 DEPRECIATION RATE 1983 ASSET ilALUE Buildings $ -

$ 51.001 $ 5I.001 $ -

$ I.962 3.8% '$ I.962 $ 49.039 Data processing equipment 51.360 22.172 73.532 5.534 5.534 10 - 12.5% 11.068 62.464 Other data processing machinery and equipment 9.622 (309) 9.313 l.758 (90) 6.67 - 10% 1.668 7.645 Warehouse:

Improvements other than buildinga -

54.202 54.202 -

4.885 9.0% 4.885 49.317 Machinery and equipment -

7.826 7.826 -

1.814 5-15% 1.Rio . 6.012 Carage - machinery and equipment -

15.501 15.501 -

2.942 5 - 15 % 2.942 12.559 Building maintenance - machinery and equipment -

915. 915 . 163 5 - 15 % 163 752 Craphics - machinery and equipment -

5.399 5.399 -

1.063 to - 15 % l.063 4.336

$ 60.982 $ 156.707 $ 217.6g $ 7.292 $ 18.273 $ 25.565 $ 192.124 See accompanying notes to financial statements.

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9 ,

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9 STATISTICAL SECTION P

P

Statistical tables differ from financial statements because they usu-

~

ally cover more than 'one fiscal year and may present non-accounting data. These' tables reflect social and economic data, financial trends and the fiscal capacity of the government I

i b

6

~

STATISTICAL INFORMATION l

l l

l

CITY OF KISSIMMEE. FLORIDA TABLE 1 CENERAL FWD - EXPENDITL'RES BY DEPARTMENT (1)

LAST TEN FISCAL YEARS FEDERAL FISCAL TOTAL CITY CITY STATE YEAR EXPENDITL*RES COMMISSION MANAGER PERSONNEL GRANTS PLAFNINC LEGAL (4) 1983 $ 5.665.058 $ 62.807 $ 414.126 $ 92.361 $ -

$ 75.135 $ 30.691 1982 5.304.948 73.708 355.635 96.510 -

90.792 39.099 1981(2) 4.946.009 41.719 315.486 64.165 54.770 67.223 51.883 1980 3.904.432 11.638 97.522 23.015 117.539 44.744 12.020 1979 3.499.704 13.294 109.092 14.038 142.591 47.967 11.470 1978 3.216.559 8.769 98.2c8 8.362 155.063 40.784 15.028 1977 2.888.949 7.750 84.878 9.120 -

50.103 13.143 1976 2.296,916 6.339 80.305 7.856 - -

16.499 1975 2.099.626 7.941 73.635 6.953 - -

20.000 1974 1.839.507 8.820 70.805 - - -

21.414 (1) Adjusted for division transfers between departments.

(2) Nondepartmental expenses reclassified and charged to appropriate departments.

(3) Internal Service Fund created to account for Central Services in fiscal year 1983.

Beginning in fiscal year 1982, this column contains charges frem the Central Services Internal Service Fund.

(4) Includes judicial expenditures through fiscal year 1981.

(5) Data Processing established as Internal Service Fund in fiscal year 1982.

(6) Sanitation Division established as Enterprise Fund in fiscal year 1982.

138.

' CENTRAL PUBLIC CULTURE / NONDEPART-FINA31CE(5) SERVICES (3) WRKS (6) POLICE FIRE INSPECTION RECREATION MENTAL

$' '311.713 $ -_284.088 $ 983.267 $ 1.717.302 $ 1.080.369 $ 148.410 $ 464.789 $ -

305.696 311.116 914.907 1.428.393 1.085.916 141.871 461.305 -

395.003 263.382 1.013.637 1.361.594 888.773 106.975 321.399 -

55.580 62.736 732.387 1.041.040 666.537 74.322 262.093 703.259 92.643 55.368 645.106 882.887 375.944 66.915 237.736 804.693 92.069 103.545 479.143 804.316 346.544 71.746 231.190 761.712 84.023- 133.533 492.646 704.027 325.352 61.850 204.669 717.855

--73.048 76.739 441.722 647.268 271.794 59.564 174.157 441.575 76.715 68.800 462.162 609.415 194.277 58.518 152.875 368.335 65.216 60.613 452.053 476.902 213.824 57.945 129.470 282.445 u

l-l I

L

l. .~

l 139.

_. CITY OF KISSIMMEE,*7LORIDA TABLE 2 GENERAL FUND - REVENUES BY SOURCE LAST TEN FISCAL YEARS i LICENSES (1) CllARGES OTFER FUND l FISCAL . TOTAL AND INTER- FOR FINES AND MIS- CONTRI-YEAR REVENUES TAXES PERMITS GOVERNMENTAL SERVICES FORFEITURES CELLANEOUS BUTIONS (2) 1983 $ 6,686,436 $ 1,141,659 $ 311,433 $ 1,623,368 $ 472,083 $ 110,692 $ 279,643 $ 2,747,558 1982 5,912,731 1,378,303 215,656 1,045,704 489,235 62,701 249,114 2,472,018 1981 5,199,890 1,149,429 203,507 981,625 287,842 68,568 136,035 2,372,884 1980 4,635,206 1,106,494 157,025 913,036 291,310 67,228 224,432 1,875,681 1979 3,733,164 1,000,816 118,872 639,136 186,097 46,275 125,790 1,616,178 1978 3,313,102 995,336 101,339 644,780 152,292 26,864 122,829 1,269,662 1977 3,069,280 920,000 84,650 634,561 144,373 30,728 54,089 1,200,879 1976 2,529,639 962,699 88,190 418,365 137,865 51,482 37,251 833,787 1975 2,314,870 800,264 62,101 603,325 141,402 63,076 77,147 567,555 1974 2,107,880 680,065 81,488 578,738 242,260 63,006 60,558 401,765 (1) In fiscal year 1976, a separate fund was established for Federal Revenue Sharing.

(2) Contributions include transfer from Federal Revenue Sharing Fund for fiscal years 1976-1980.

CITY OF_KISSIMMEE, FLORIDA TABLE 3 PROPERTY TAX LEVIES, TAX COLLECTIONS AND ASSESSED VALUATIONS LAST TEN FISCAL YEARS RATIO OF TOTAL TOTAL CURRENT PERCENT DELINQUENT TOTAL COLLEC- ACCUMULATED FISCAL ASSESSED TAX RATE TAX _ TAX OF LEVY TAX _ TAX TION TO DELINQUENT VALUATION IN MILLS LEVY COLLECTIONS COLLECTED COLLECTIONS COLLECTIONS TAX LEVY TAXES YEAR 1982/1983 $274,168,047 4.074 $ 1,116,961 $ 1,078,377- 96.5 $ 3,589 $ 1,081,966 96.9 $ -

1981/1982 251,340,685 5.061 1,272,035 1,218.523 95.8 42,393 1,260,915 99.1 2,402 1980/1981 199,226.059 5.446 1,084,985 1,061,242 97.8 2,667 1,063,909 98.1 2,402 1979/1980 145,188,232 7.292 1,058,713 1,029,613 97.3 8,895 1,038,058 98.1 4.069 1978/1979 139,680,774 7.298 1,019,390 945,914 92.8 14,062 959,976 94.2 15,712 1977/1978 136,644,429 7.305 998,188 952,127 95.4 3,391 955,518 95.7 8,318 1976/1977 129,315,419 7.110 919,433 862,440 93.8 11,226 873,666 95.0 15,343 824,641 798,139 96.8 140,091 938,230 113.8 36,275 1975/1976 113,306,000 7.278 782,402 773,973 98.9 118,796 892,769 114.1 28,911 1974/1975 115,688,600 6.763 E

o

CITY OF KISSIMMEE, FLORIDA TABLE 4 SCllEDULE OF PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS LAST TEN FISCAL YEARS MILLS ($1 PER $1,000 VALUATION)

SOUTH FLORIDA WATER FISCAL MANAGEMENT OKEECHOBEE SCHOOL YEAR CITY COUNTY DISTRICT BASIN LIBRARY BOARD TOTAL 1983 4.074 4.269 .134 .250 .255 6.479 15.461 1982 5.061 4.973 .115 .243 .279 7.080 17.751 1981 5.446 4.973 .152 .250 .279 6.332 17,432 1980 7.292 6.265 .160 .262 .351 7.267 21.597 1979 7.298 6.398 .157 .240 -

8.525 22.618

'1978 7.305 5.700 .105 .292 -

8.566 21.968 l

1977 7.410 5.620 .365 - -

8.607 22.002 l

i 1976 7.578 5.750 .375 - -

8.687 22.390 1975 6.954 5.380 N/A - -

8.600 20.934 1974 7.360 5.380 N/A - -

9.310 22.050

{

142.

CITY OF KISS 1FeiEE, FLORIDA TABLE 5 SCllEDULE OF SPECIAL ASSESS!4ENT COLLECTIONS LAST TEN FISCAL YEARS FISCAL YEAR COLLECTIONS 1983 $ 92,149 1982 56,747

1981 30,607 1980 7,085 1979 16,318 1978 22,669 1977 25,059 1976 63,264 1975 205

.1974 8,004

NOTEi Special assessments are not a primary source of financing in Kissimmee.

143.

CITY OF KISSIMMEE, FLORIDA TABLE 6 COMPUTATION OF LEGAL DEBT MARGIN SEPTEMBER 30, 1983 Assessed Value $274.168.047 Debt Limit: 20% of Assessed Value $ 54,833,609 Amount of Debt Outstanding -

LEGAL DEBT MARGIN $ 54.833.609 The above computation pertains only to general obligation bonds. Revenue bonds, as issued by the Enterprise Funds, do not have a debt limit per se: but rather are restricted by the ability to raise revenue to 1.25 times maximum outstanding debt.

As long as that figure is maintained, revenue bonds may be issued without further restrictions. Special obligation or limited obligation bonds, as that issued in December, 1978 by the Municipal Development Board, are not considered as general obligation debts.

144.

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CITY OF KISSIMMEE, FLORIDA TABLE 7 COMPUTATION OF DIRECT AND OVERLAPPING DFBT SEPTEMBER 30, 1983 PERCENTAGE AMOUNT APPLICABLE APPLICABLE NET DEBT TO CITY OF TO CITY OF NAME OF GOVERNMENTAL UNIT OUTSTANDING KISSIMMEE (1) KISSIMMEE DIRECT DEBT City of Kissimmee $ None -% $ -

OVERLAPPING DEBT School Board of Osceola County General

.0bligation Debt $ 2,596,328 21.988% 570,881 TOTAL AD VALOREM TAX SUPPORTED DEBT ,S 570.881 RATIOS Overall debt to 1982 taxable valuation .2082%

overall debt per capita $31.16 i

-(1) Determined by ratio of assessed valuation of property subject to taxation in

[ the City of Kissimmee to valuation of property subject to taxation in over-

! lapping unit.

s en

~~

145.

CITY OF KISSIMMEE, FLORIDA

• TABLE 8 RATIO OF GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS RATIO OF NET DEBT SERVICE BONDED DEBT NET BONDED ASSESSED GROSS EONDED MONIES NET BONDED TO ASSESSED DEBT PER FISCAL POPULATION VALUE DEBT AVAILABLE DEBT VALUE CAPITA YEAR l 1983 18,322 $ 274,168,047 $ -

S S - -  % $ -

1982 17,883 251,340,685 - - -

1981 16,866 199,226,059 - - -

l l 1980 15,487 145,188,232 - - -

I 1979 14,500 139,680,774 - -

1978 13,600 136,644,429 - -

1977 12,700 129,315,419 - -

1976 12,080 113,306,000 29,000 3,196 25,804 .02 2.14 11,817 115,688,600 61,000 (1,142) 62,142 .05 5.26 1975 11,420 95,842,142 81,000 401 81,401 .08 7.13 1974

CITY OF KISSIMMEE, FLORIDA TABLE 9 RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES LAST TEN FISCAL YEARS RATIO OF TOTAL DEBT SERVICE GENERAL OBLIGATION GENERAL CENERAL TO TOTAL FISCAL DEBT OBLIGATION EXPENDT- GENERAL YEAR PRINCIPAL INTEREST DEBT SERVICE TURES (1) EXPENDITURES 1983 .$ -

$ 6,684,661 - %

'1982- - - -

6,752,406 -

1981 - - -

5,296,792 -

1980.- - - -

3,949,634 -

l 1979 - - -

3,465,289 -

1978 - - -

3,216,559 -

1977. 29,000 1,157. 30,157 2,919,106 .10

-1976' 32,000- 2,298 34,298 2,331,214 .15

.1975 20,000 2,989 22,989 2,122,615 .11

'1974 23,000 _3,787- 26,787 1,866,294 .14 l.

-(1) Includes General, Special' Revenue and Debt Service Funds.

147.

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CITY ! OF .'KISSIMMEE, ' FL'ORIDA -

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TABLE 10 SCHEDULE OF EISECTRIC REVENUE' BOND COVERAGE *-

LAST TEN FISCAL YEARS' OPERATION NET REVENUE-AND AVAILABLE DEBT FISCAL GROSS MAINTENANCE _FOR SERVICE YEAR REVENUES ~ . EXPENSES DEBT SERVICE- COVERAGE' COVERACE 1983 .$ 26,328,900 .$-17,800,700 .$ 8,528,206 $ 6,035,411: 1.41 x 1982 21,097,775 14,996,300 6,101,475 3,935,207 1.55

'1981 20,101,059 14.087,782 6,013,277 1,545,355 3.89 1980 14,954,836 10,776,161 4,178,675 1,269,550 3.29 1979 11,201,911 8,070,792 3,131,119 1,148,737 .- 2. 7 3 1978 9,500,489 -6,828,890 2,671,599 1,319,917 1.97 1977 9,236,705 5,948,805 3,287.900 1,140,215' 2.88 1976 8,555,726 5,669,043 2,886,683 1,199,264 2.41 1975 6,532,669 4,896,188 1,636,481 1,079,153 1.52 1974 5.995,954 4,010,536 1,985,418 1,080,702 1.84

• Prior to 1978, information represents the combined Electric and Water Systems. In 1978, Water System was combined with the Sewer System.

NOTE: Maximum debt service in any subsequent year is $6,461,022.

J CITY OF KISSIMMEE, FLORIDA

. TABLE'11 SCHEDULE OF WATER'AND SEWER REVENUE BOND C0VERACE*

LAST TEN FISCAL YEARS OPERATION NET REVENUE AND AVAILABLE DEBT GROSS ' MAINTENANCE FOR SERVICE FISCAL ~

REVENUES EXPENSES DEBT SERVICE COVERAGE -COVERACE YEAR 1983 $ 2,689,249 $ 1,814,790 $ 874,459 $ 676,954 1.29 x 1982 2,096,837 1,372,136 724,701 580,813 1.25 1981 2,062,180 1,142,924 919,256 360,166 2.55 1980 1,915,564 1,058,784 856,780 356,567 2.40 1979 1,640,849 _842,788 798,061 357,514 2.23 1,483,124 806,693 676,431 405,512 1,67 1978 1977 559,802 473,997 85,805 63,611 1.35 1976 534,187 446,519 87,668 63,656 1.38 1975 559,464 391,748 167,716 63,671 2.63 1974 372,616 260,641 111,975 63,656 1.76

• In 1978, the Water System was combined with the Sewer System.

7 NOTE: Maximum debt service in any subsequent year is $671,741.

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' CITY OF KISSIMMEE,;FL3RIDA" TABLE 12-SCHEDULE OF AIRPORT REVENUE BOND:COVERACE LAST TEN FISCAL YEARS'

, NET REVENUE AVAILABLE FISCAL GROSS OPERATING' FOR- DEBT SERVICE REQUIREMENTS' i YEAR '- REVENUES EXPENSES DEBT SERVICE PRINCIPAL. INTEREST TOTAL C0VERACEi 1983 $ 161,806 $. 125,456' $ '36,350 .$ 15,000'~ $ 16,466 $! '31,466 ^ '1.16 x 1982.. 124,600 92,729 31,871 .10,000 17,773 27,773- 1.15

-1981 -132,270 87,449 44,821 10,000 17,923 27,923 1.61 1980 118,384 55,551 62,833~ 10,000 18,321 28,321 2.22-1979 109,836' 76,414 33,422 10,000 19,049 29,049 1;15 1978 96,494 65,668 30,826 10,000' 19,698 29,698 1.04 1977 68,891 54,771 14,120 10,000 20,347 30,347 .47 1976 63,488- 39,190 24,298 -

20,679 20,673 1.18 1975 60,842 32,363 128,479 -

20,673 20,673 1.38 1974 73,696 22,915 50,781 -

20,673 20,673- 2.46 NOTE: Maximum debt service in any subsequent year is $33,450.

CITY OF KISSIMMEE, FLORIDA TABLE 13 TABLE OF DEMOGRAPilIC STATISTICS CITY OF KISSIMMEE OSCEOLA COUNTY PERCENT PERCENT YEAR POPULATION INCREASE POPULATION INCREASE POPULATION 1950 4,310 -

11,406 -

-1960 6,845 58.8 19,029 66.8 1970 7,119 4.0 25,267 32.8 1976 12,080 69.7 37,676 49.1

.1977 12,700 5.1 37,944 .7 1978 - 13,600 7.1 38,500 1.5

1979 14,500- 6.6 42,344 9.9 l

-1980 15,487 _7.7 49,287 16.4 u -1981 16,866 8.9 55,332 12.3

-1982 17,883 6.0 59,185 7.0 1983 18,322 2.5 65,500 10.7

( AS PROJECTED

• 1985 20,000 17.6 54,750 16.5 l 1990 22,000 10.0 62,500 14.2 1995 23,800 8.2 69,900 -11.8 12000 25,500 7.1 77,300 -10.6

, 2005 30,000- 17.6 87,850 13.6 AGE DISTRIBUTION

• OSCEOLA COUNTY STATE OF FLORIDA l, AGE  % POPULATION  % POPULATION 0-14 20.5 19.3 l _ 15-44' 40.7 41.8 45-64 21.0 21.6 65 + 17.8 17.3

• City _of Kissimmee Planning Department.

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CITY OF KISSIMMEE,: FLORIDA TABLE.14'

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TABLES OF' PROPERTY VALUES, CONSTRUCTION AND BANK DEPOSITS - OSCEOLA' COUNTY FISC/st

-YEAR ~ PROPERTY VALUES

• CONSTRUCTION

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L1983 -$ 1,246,880,737 $ 60,713,726 1982' 1,103,822,746 37,753,845 1981 .926,667.363 27,173,852 1980. -684,111,968 18,049,900

, .1979- 643,833,406 N/A g 1978 628,679,847 N/A l'

, 1977 610,112,325 13,825,463

-1976. 563,264,568 13,460,297 1975- 559,636,258 N/A

, _1974_- .568,383,016 N/A

[ L* Source: Property Appraiser's office.

BANK DEPOSITS SAVINGS AND LOAN COMMERCIAL-BANKS ASSOCIATIONS PERSONAL DEMAND TIME.

l FISCAL INCOME . DEPOSITS ' DEPOSITS SAVINGS .l L YEAR' '(MILLIONS)** (MILLIONS) (?1ILLIONS) (ifILLIONS) l t

-1982~ N/A' 40.9 137.7. $ N/A

1981. 387.0 39.7- 107.3 72.2 L :1980 _ 300.'6 53.2 93.8 88.3-

_ 1979 275.9 45.8 81.9 89.1 1

'1978

-225.6' N/A N/A N/A L

1977 -189.2 .27.3 46.5 89.7

)

.1976 .165.0 29.2 42.1 84.0

1975'- .146.1 27.9. 35.5 76.1 S Source: 1983 Florida Statistical Abstract (Table 5.10).

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CITY OF KISSIMMEE, FLORIDA TABLE 15

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SCHEDULE OF MAJOR TAXPAYERS PERCENTAGE TAXABLE ASSESSED '0F TOTAL VALUATION AS OF ASSESSED JANUARY 1. 1982 VALUATION Florida Telephone Corporation $ 12,516,475 4.57%

Dorado Apartments 7,210,837 2.63 Medical Center of Kissimmee 6,525,889 2.38 Woodside Apartments 3,909,501 1.43 Town Corral Shopping Center 3,712,707 1.35 Mill Creek Mall 3,465,309 1.26

.Three Fountains Apartments 3,431,282 1.25 K-Mart /Publix Shopping Center 3,429,546 1.25 Outrigger Apartments 3,321,768 1.21 Community Hospital 3,057,283 1.12 S 50.580.597 18.45%

Source: Osceola County Property Appraiser's Office, 153.

r; CITY OF KISSIMMEE, FLORIDA TABLE 16 MISCELLANEOUS STATISTICAL DATA FORM OF COVERNMENT Commissioner - Manager l DATE OF INCORPORATION PRESENT CIIARTER ADOPTED I l

1883 1965 TERMS OF 0FFICE Mayor / Commissioner and 4 Commissioners - Two Years City Manager - Appointed ANNUAL SALARIES OF OFFICERS City Manager. . . . . . . . . .$46,592 Building Director . . . . . . .$31,699

' Assistant City Manager. . . . . 38,106 Parks & Recreation Director . . 27,664 Finance Director. . . . . . . 37,003 Electric Utilities Director . . 44,990 Central Services Director . . 31,283 Water & Sewer Director. . . . . 31,928 Planning Director . . . . .. . 28,642 Aviation Director . . . . . . . 28,246 Police Chief. ...... . . 33,093 Public Works Director /

Fire Chief. . . . . ... . . . 27,747 City Engineer . . . . ... . 35,464 Personnel / Labor Relations Director. . . . . . . ... . 27,997 AREA 0F CITY 10.0 Square Miles - Municipal Boundaries 85 Square Miles - Electric Service Area AREA 0F COUNTY 1,313 Square Miles BUILDING PERMIT ACTIVITY (CITY)

YEAR NUMBER AMOUNT 1983 1,517 $ 48,823,372 1982 1,166 38,851,097 1981 900 12,888,719 1980 1,015 21,586,987 1979 840 15,371,899 1978 847 10,900,281 1977 654 10,087,672 1976 656 6,075,542 1975 623 2,248,397 1974 506 5,619,651 154.

CITY.0F KISSDMEE. FLORIDA TABLE 17 UTILITT ENTERPRISE FUNDS STATISTICAL DATA ELECTRIC UTILITT FUND NET OPERAT- INCOME (LOSS)

TOTAL ING INCOME BEFORE EXTRA-FISCAL'- NUMBER OF OPERATING (LOSS) AFTER ORDINART TEAR CUSTOMERS (1) REVENUE DEPRECIATION ITEMS (2) 1982/1983_ 16.985 $ 24.706.847 $ 5.617.941 $ 2.953.745 1981/1982 15.756 19.928,883 3.956.029 1.984,999 1980/1981 14.507 19.069.330 4.060.939 2.845.585 1979/1980 13.105 14.204.112 2.697.286 1.167.851

'1978/1979 12.065 10.467.296 1.735.800 676.226 1977/1978 -11.680 9.055.288 1.539.258 489.251 1976/1977 10.865 8.476.885 2.232.901 1.052.438

'1975/1976 10.348 7.791.590 1.917.169 1.184.729 1974/1975 9.883 5.895.456 763.999 333.319 1973/1974 9.977 5.257.095 871.949 475.903 WATER AND SEWER UTILITIES FUND FISCAL YEAR WATER SEWER WATER SEVER WATER SELTR WATER SEVER 1982/1983 6.315 5.290 $ 1.861.023(3) $ (155.817)(3) $ 97.942(3)

. 1981/1982 - 5.994 5.104 1.565,730(3) 39.572(3) 207.014(3) 1980/1981 5.639 4.896 1.551.672(3) 271.319(3) 647.144(3)

'1979/1980 5.155 4.534 1.700.756(3) 514.177(3) 560.081(3) 1978/1979 4.779 4.267 1.758.694(3) .

669.988(3) 474.988(3) 1977/1978 4.310 '4.012 $ .779.964 $ 654.215 $ 434.866 $ 92.502- 444.786 197(/1977 4.171 3.187 339.996 413.674 75.807 (111.503) $ 13.677 $ (191.771) 1975/1976 4.021 3.687 356.607 391.706 93.082 (104.814) 54.533 (168.125) 1974/1975 3.623 3.295 326.390 338.407 108.931 (107.527) 86.264 (164.933)

, 1973/1974- 3.595- 3.252 340.676 314.980 161.436 18.654 140.591 (5.314)

(1) Average customer count for fiscal year.

(2) Af ter transfers to/from other funds and accounting change.

(3) Combined by consolidation of funds.

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1 CITY OF KISSIMMEE, FLORIDA i TABLE 18 SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30, 1983 IJ TYPE OF COVERACE ' PERSON OCCURRENCE ACCRECATE LPROPERTY - ALL RISK Real/ Personal Property --(903 coinsurance):' +

$16,000,000 on Power Plant (Ruby Ave.)

< $3,000,000 all'other locations (per schedule) - Both

-subject to $1,000 deductible each claim

$10,000,000 TIV-Substations (eff. 11/19/82) - Subject to

~$1,000 deductible _each claim

$10,000,000 DIC - Subject to $1,000 deductible each claim

$1,000,000 newly acquired property (must be reported within c60 days of ecquisition) - Subject to $1,000 deductible each clain >

'$3,000,000 extra expense on Power Plant (liability to commence 30 days'following date of loss)

Mobile Equipments

.-$853,651 - Subject to $500 deductible each claim.

- Miscellaneous Equipment s

-$606.928 - Subject to $500 deductible each clain

" Roads Sewers. Water Lines (within City limits):

$10,000 - Subject to $100.000 deductible each clain~

EDP Equipment (including estra expense):

Location fl - City Hall - $182,000 (1002 coinsurance)

Location f2 - 1150 Carden St. - $350,000 (loot coineurance) effective 11/18/82

- Both subject to $500 deductible each clain 80iLER AND MACHINERY - BROAD BLANKET C0VERACE

$2,500 to 520,000 object schedule deductible $ - $ 20,000,000 $ -

WORKERS' COMPENSATION AND INPLOYER'S LIA8tLITY Statutory Statutory 100,000 LAW ENFORCEMENT OFFICERS' COMPREMENSIVE PROFE5SIONAL LIABILITY- 500,000 1,000,000 1,000,000

. 90DtLY INJURY / PROPERTY DAMACE

,5500,000 each occurrence /5500,000 aggregate CSL -

including hired / con-owned autos Broad form comprehensive general liability-including personal injury

- PIP - $10,000 (auto)

~ Auto comprehensive - $250 deductible Auto collision - $500 deductible POSITION SCHEDULE :

City Manager - 100,000. -

- PUBLIC DO'LOYEES' BLANKET BOND All employees - 500,000 -

- CROUP LIFE AND REALTH - EMPLOYEES Self-insured - individual stop loss $25,000, aggregate .

~$1,039 per employee

- NUCLEAR PROPERTY DAMAGE AND LIABILITY COVERACE.

Purchased in cooperation with Florida Power Corporation

.as a party to the Participation Agreement. Coverages are mandated through Federal regulations and are in addition to those shown above.

COMPREMENSIVE DDD (CRIME)

Loss inside/outside - $50,000 each

. Depositors forgery - $50,000 UMBRELLA ,

. Limit - $5,000,000 Self-insured retention - $10,000 AMBULANCE MALPRACTTCE - 1,000,000 1,000,000 l-

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BACKGROUND Kissimmee began as a . tiny trading post' and military outpost. After the Civil War, Hamilton Disston acquired 4,000,000 acres of marshland and plains in the Kissimmee area. He built several sugar plantations and

. lumber camps and connected them with waterways _and narrow gage railroads.

The location of Kissimmee on Lake Tohopekaliga and the coming of the railroad made the town the natural, center of economic activity for this

. region. By the early 1880's, Kissimmee was a boom town and enjoyed fairly rapid growth through the turn of the century.

Kissimmee had become _ an important water / rail transfer point for both travelers and commodities. A relatively significant resort business existed in the late 1800's and early 1900's. The community evolved in response to economic opportunity and geographic. conditions. Industrial and warehouse uses were located between the railroad and the lakefront. (A wood products industry continues in this area even today.) The downtown was established on the other side of the tracks but still adjacent to the

. rail center. A few resort hotels were located downtown or near the lake front. Residential development spread out from the downtown, generally to

.the west and south.

Kissimmee was a well established town by the turn of the century. In fact, most of the major downtown structures that exist today were built during the late 1800's. The great Florida land boom of the early 1900's created another wave.of growth. Kissimmee was a city of over 2,700 people by the i year 1920. The town became caught up in the land boom and sold municipal bonds' to finance new roads and utilities to create new subdivisions.

Unfortunately, this was done at the end of the land boom and the ' growth never came.- The vivid memory of municipal debt financing growth that never

, occurred: makes even today's residents reluctant to consider municipal bonding as a method of financing the. anticipated growth of the town.

L After the collapse of the Florida land boom, Kissimmee entered a. period of The City's population increased by only. 500, less-than l ' .very slow growth.

20% . over a twenty-year span 1920 to 1940. During World War II, the Kissimmee Airport was built by the U.S. Army Corps. The military activity was a stimulant ' to growth and the community grew westward toward the D airport. During the 1940's, Kissimmee's population increased by 38%.

Crowth was - further stimulated by the establishment of Martin Marietta

' Company, .which marked the beginning of a heavy concentration of jobs in south Orlando.

During the 1950's, the city undertook a major ef fort to encourage growth through the attraction of retirees to the' community. The construction of Orange Gardens was a result of this effort. Residential growth in other areas of the City was ' occurring ' slowly by extending ' the existing grid street pattern.- The success of'the retiree-stimulated growth resulted in a population growth of almost 60% during the 1950's.

The City's growth came to almost a complete standstill in the late 1950's

, and continued that way until the opening of Disney World in 1971. During the 1960's, the population of Kissimmee increased by less than 300 people or 4% over a 10-year period.

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n The opening 'of Walt Disney World marked -the beginning of a period of very j rapid growth. The population of Kissimmee increased from 7.119 in 1970 to

. slightly :over 12,000 in 197 6, -. a 70% increase. The City would have grown a more, but 'it was unable to provide sewer and other municipal services needed to support growth. In order. to accommodate new growth during this i period, a major'public sewer plant was constructed on Mill Slough north of U.S. 192. 'This plant - has been - a ~ major factor in the growth of the

-northeast area.

The growth of the' Disney period was-different from that experienced in the past.. Prior to'1970, residential development was almost totally dominated by single family homes. Over 91% of all dwelling units were in structures containing less than four units. Most multi-family housing constructed before .1970 consisted of low income projects built in response to various Federal Programs.

The opening ~of Disney World and its associated economic impact altered the

" mix of housing types in : Kissimmee. Over 2/3 of all dwelling units built since 1970 were located - in multi-family projects.

These multi-family projects' contain over 1,700 dwelling units, but consumed less than 125

~ acres .of . land.' This increase in multi-family housing constituted a significant change in housing types and the social character in the com-munity. The . people living in the apartments are more transient and the stability of the community was threatened.

.The Disney boom created an increase in- commercial activity related to tourism. This impact is generally limited to two areas - the Vine Street restaurant, motel, service area and .the Florida turnpike motel

-concentration area.

The:long-term impact 'of Disney World is just beginning to be expressed -

the northward direction of growth is now challenged. U.S. 192 (Vine Street) has become the most heavily traveled road in Kissimmee with upwards of 30,000 vehicles a day. The highway is not only a tourist route, but also the access road to a large employment center. Future growth of the City will be oriented to U.S. 192.

-The City of Kissimmee has gone through a major transition. In the'1880's,

-Kissimmee was considered a major community in Central Florida, its pre-dominance based on agriculture and timber. As the City grew and attracted

.more residents, agriculture remained the economic base of Kissimmee.

Cattle were introduced into the area in the 1930's to fill a void created by the decline of field crops, but the economy remained firmly rooted in agriculture. Agriculture,'however, ceased to be a dominant industry and therefore the community's role in the region declined during the 1920 to 1970 period.

In 1970, Kissimmee could best be described as a rural town fairly remote from the . _ metropolitan area. The town- looked the part of its nickname "Kow-Town." -However, the last twelve years and a small mouse have changed

-Kissimmee even more than most residents realize. It is rapidly becoming a suburban community with a great deal of pride in its "Kow-Town" heritage.

We.must recognize that Kissimmee is in an entirely different position to

' capitalize on regional growth trends in'the 1980's than it was in 1970.

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1 In the early 1970's, Kissimmee's assets were limited -

shopping was in Orlando; residents were few; educational facilities were old and unimpres-sive; and-cultural and entertainment opportunities were almost nonexistent.

Kissimmee may not be the most sophisticated small town in America, but the combination of Disney entertainment and shopping, the Tupperware Auditorium the Arts Center, new schools and a restaurant bonanza surely takes the town out of the rural class. In fact, more and more people are expressing a preference of wanting to live in a small town (near a metro-politan area) with which they can identify. Kissimmee's newly acquired assets, combined with the natural outdoor recreational opportunities that have always existed in the area, make the City an attractive place to live.

The construction of Disney's World Showcase /EPCOT, costing over $1 billion, will be the biggest economic influence on the Orlando metropolitan area during the next ten years. You no longer need to be a pioneer to live in Kissimmee; it is a desirable suburban community. The amount of growth that occurs in Kissimmee during the next ten years is completely dependent on the decisions of private developers and on the ability of the City to provide the facilities necessary to support rapid growth, i

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