HomeMy Public PortalAbout2022 AuditCity of Parkville, Missouri
Basic Financial Statements
With
Independent Auditor’s Report
For the Year Ended
December 31, 2022
i
CITY OF PARKVILLE, MISSOURI
TABLE OF CONTENTS
Page
Independent Auditor’s Report 1-3
Management’s Discussion and Analysis 4-10
Basic Financial Statements:
Exhibit
Government-wide Financial Statements:
Statement of Net Position A 11
Statement of Activities B 12
Fund Financial Statements:
Balance Sheet – Governmental Funds C 13
Reconciliation of the Balance Sheet - Governmental Funds to
the Statement of Net Position 14
Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental Funds D 15
Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balances – Governmental Funds to the Statement of Activities 16
Statement of Net position – Proprietary Fund E 17
Statement of Revenues, Expenses and Changes in Fund Net Position –
Proprietary Fund F 18
Statement of Cash Flows - Proprietary Fund G 19
Statement of Fiduciary Net Position – Fiduciary Fund H 20
Statement of Changes in Fiduciary Net Position – Fiduciary Fund I 21
Notes to the Basic Financial Statements 22-47
Schedule Page
Required Supplementary Information:
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – General Fund 1 48
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – Transportation Sales Tax Fund 2 49
Notes to Required Supplementary Information 50
Schedule of Changes in Net Pension Liability and Related Ratios 3 51
Schedule of Employer Contributions 4 52
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CITY OF PARKVILLE, MISSOURI
TABLE OF CONTENTS, Continued
Schedule Page
Other Supplementary Information
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet – General Fund 5 53
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – General Fund 6 54
Combining Balance Sheet – Debt Service Funds 7 55
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Debt Service Funds 8 56
Combining Balance Sheet – Non-major Governmental Funds 9 57-58
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Non-major Governmental Funds 10 59-60
Combining Balance Sheet – Creekside Development Funds 11 61
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Creekside Development Funds 12 62
Schedules of Revenues, Expenditures and Changes in Fund Balances –
Budget and Actual –
Debt Service Funds 13 63-64
Park Sales Tax Fund 14 65
Economic Development Fund 15 66
Nature Sanctuary Fund 16 67
Parks Donation Fund 17 68
Veterans Memorial Fund 18 69
ARPA Fund 19 70
Fewson Fund 20 71
Capital Projects Fund 21 72
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and
Board of Aldermen
City of Parkville, Missouri
Report on the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund, and the aggregate remaining fund information of the City of Parkville, Missouri (the
City), as of and for the year ended December 31, 2022, and the related notes to the financial statements,
which collectively comprise the City’s basic financial statements as listed in the table of contents.
In our opinion, based on our audit and the report of other auditors, the financial statements referred to above
present fairly, in all material respects, the respective financial position of the governmental activities, the
business-type activities, the aggregate discretely presented component units, each major fund, and the
aggregate remaining fund information of the City, as of December 31, 2022, and the respective changes in
financial position, and, where applicable, cash flows thereof for the year then ended in conformity with
accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States of America. Our responsibilities under those standards are
further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our
report. We are required to be independent of the City of Parkville, Missouri and to meet our other ethical
responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Change in Accounting Principle
As described in Note 1 to the financial statements, in 2022, the City adopted new accounting guidance,
Government Accounting Standards Board (GASB) No. 87 Leases. Our opinion is not modified with respect to
this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair presentation
of financial statements that are free from material misstatement, whether due to fraud or error.
2
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City of Parkville, Missouri's ability
to continue as a going concern within one year after the date that the financial statements are available to be
issued.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not
a guarantee that an audit conducted in accordance with generally accepted auditing standards and
Government Auditing Standards will always detect a material misstatement when it exists. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements, including omissions, are considered material if there is a substantial likelihood that,
individually or in the aggregate, they would influence the judgment made by a reasonable user based on the
financial statements.
In performing an audit in accordance with generally accepted auditing standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the City of Parkville, Missouri's internal control. Accordingly, no such opinion is
expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the City of Parkville, Missouri's ability to continue as a going concern for
a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control related matters
that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis and required supplementary information listed in the table of contents be presented
to supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential
part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted of
inquiries of management about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or
provide any assurance on the information because the limited procedures do not provide us with sufficient
evidence to express an opinion or provide any assurance.
3
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The introductory section, combining and individual nonmajor
fund financial statements and schedules, and statistical section are presented for purposes of additional
analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and schedules are the responsibility of
management and were derived from and related directly to the underlying accounting and other records used
to prepare the basic financial statements. Such information has been subjected to the auditing procedures
applied in the audit of the basic financial statements and certain additional procedures, including comparing
and reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our opinion, the
combining and individual nonmajor fund financial statements and schedules are fairly stated in all material
respects in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the
audit of the basic financial statements and, accordingly, we do not express an opinion or provide any
assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December
27, 2023 on our consideration of the City’s internal control over financial reporting and on our tests
of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on internal control
over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City’s internal control over
financial reporting and compliance.
Hood & Associates CPAs PC
Kansas City, Missouri
December 27, 2023
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2022
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As management of the City of Parkville (the City), we offer readers of the City’s financial statements this
narrative overview and analysis of the financial activities of the City for the year ended December 31, 2022. We
encourage readers to consider the information presented here in conjunction with the basic financial statements
and the accompanying notes to those basic financial statements.
Financial Highlights
1. The assets and deferred outflows of the City of Parkville exceeded its liabilities and deferred inflows at
the close of the year by $21,990,091 (net position), an increase of $1,647,271 over the prior year.
2. As of the close of the current year, the City’s governmental funds showed a combined ending balance
of $5,605,347, an increase of $452,004 from the prior year.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements.
The City’s basic financial statements are comprised of three components: government-wide financial
statements, fund financial statements, and notes to the basic financial statements. This report also contains
required and other supplementary information in addition to the basic financial statements.
Reporting the City as a Whole
Our analysis of the City as a whole begins on page 6. One of the most important questions asked about the
City’s finances is, “Is the City as a whole better off or worse off as a result of the year’s activities?” The Statement
of Net Position and the Statement of Activities reports information about the City as a whole and its activities in
a way that helps answer this question. These statements include all assets, deferred outflows, liabilities, and
deferred inflows using the accrual basis of accounting, which is similar to the accounting used by most private-
sector companies. All of the current year’s revenues and expenses are taken into account regardless of when
cash is received or paid.
The Statement of Net Position and the Statement of Activities report the City’s net position and changes in it.
You can think of the City’s net position—the difference between assets and deferred outflows less liabilities and
deferred inflows—as one way to measure the City’s financial health, or financial position. Over time, increases
or decreases in the City’s net position are one indicator of whether its financial health is improving or
deteriorating. You will need to consider other non-financial factors, however, such as changes in the City’s
property tax base and the condition of the City’s roads, to assess the overall health of the City.
To aid in the understanding of the Statement of Activities, some additional explanation is given. Of particular
interest is that the format is significantly different than a typical Statement of Revenues, Expenses, and Changes
in Fund Balance. You will notice that expenses are listed in the first column with revenues from that particular
program reported to the right. The result is a Net (Expense)/Revenue. The reason for this kind of format is to
highlight the relative net financial costs of each of the functions on the City's taxpayers. It also identifies how
much each function draws from the general revenues or if it is self-financing through fees and grants.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2022
5
In the Statement of Net Position and the Statement of Activities, we divide the City into two kinds of activities:
Governmental activities—Most of the City’s basic services are reported here, including general government,
public safety, public works, parks and recreation, and community development. Taxes, (sales, property, and
franchise) charges for services, fines, and state and federal grants finance most of these activities.
Business-type activities—The City charges a fee to customers to help it cover all or most of the cost of certain
services it provides. The City’s sanitary sewer fund activities are reported here.
Reporting the City’s Most Significant Funds - Fund Financial Statements
The fund financial statements begin on page 13 and provide detailed information about the most significant
funds—not the City as a whole. Some funds are required to be established by State law and by bond covenants.
The City establishes other funds to help it control and manage money for particular purposes. The City uses
three types of funds to manage its resources: governmental, proprietary, and agency funds. A fund is a fiscal
entity with a set of self-balancing accounts recording financial resources, together with all related liabilities and
residual equities and balances, and the changes therein. These accounting entities are separated for the
purpose of carrying on specific activities or attaining certain objectives in accordance with regulations,
restrictions, or limitations.
Governmental funds—Most of the City’s basic services are reported in governmental funds, which focus on
how money flows into and out of those funds and the balances left at year-end that are available for spending.
These funds are reported using an accounting method called modified accrual accounting, which measures
cash and all other financial assets that can readily be converted to cash. The governmental fund statements
provide a detailed short-term view of the City’s general government operations and the basic services it
provides. Governmental fund information helps you determine whether there are more or fewer financial
resources that can be spent in the near future to finance the City’s programs. We describe the relationship (or
differences) between governmental activities (reported in the Statement of Net Position and the Statement of
Activities) and governmental funds in the reconciliation following the fund financial statements.
Proprietary funds—When the City charges customers for the services it provides, these services are generally
reported in proprietary funds. Proprietary funds are reported in the same way that all activities are reported in
the Statement of Net Position and the Statement of Activities. In fact, the City’s sewer enterprise fund is the
same as the business-type activities we report in the government-wide statements but provides more detail and
additional information, such as cash flows.
Fiduciary Funds—Fiduciary funds are used to account for resources held for the benefit of parties outside the
government. Fiduciary funds are not reflected in the government-wide financial statements since the resources
of those funds are not available to support the City’s operations. The accounting used for fiduciary funds is
much like that used for proprietary funds.
Notes to the Basic Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the
government-wide and fund financial statements.
Other Information
In addition to the basic financial statements and accompanying notes, this report also contain certain required
supplemental information that further explains and supports the information in the financial statements. This
report also contains other supplementary information that provides certain combining and individual fund
statements and schedules.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2022
6
Government-Wide Financial Analysis
Our analysis below focuses on net position (Figure 1) and changes in net position (Figure 2) of the governmental
and business-type activities.
Figure 1 – Statement of Net Position
2022 2021 2022 2021 2022 2021
Current and other assets 15,726,673$ 15,803,930$ 1,156,256$ 1,227,610$ 16,882,929$ 17,031,540$
Capital assets 15,269,691 14,573,398 3,561,003 3,611,396 18,830,694 18,184,794
Total assets 30,996,364 30,377,328 4,717,259 4,839,006 35,713,623 35,216,334
Deferred amount on refunding 12,358 15,325 - - 12,358 15,325
Deferred outflows - pension 334,568 302,492 - - 334,568 302,492
Total deferred outflows of resources 346,926 317,817 - - 346,926 317,817
Long-term debt 10,733,680 11,823,464 377,918 550,837 11,111,598 12,374,301
Other liabilities 1,561,774 1,556,566 192,893 104,210 1,754,667 1,660,776
Total liabilities 12,295,454 13,380,030 570,811 655,047 12,866,265 14,035,077
Deferred inflow - leases 324,798 - - - 324,798 -
Deferred inflow - property taxes 383,323 279,446 - - 383,323 279,446
Deferred inflow - pension 260,530 620,173 - - 260,530 620,173
Deferred amount on refunding 235,542 256,635 - - 235,542 -
Total deferred inflows of resources 1,204,193 1,156,254 - - 879,395 899,619
Net position:
Net investment in capital assets 11,259,898 9,955,376 3,183,085 3,060,559 14,442,983 13,015,935
Restricted 2,598,233 2,835,521 174,634 170,290 2,772,867 3,005,811
Unrestricted 3,985,512 3,367,964 788,729 953,110 4,774,241 4,321,074
Total net position 17,843,643$ 16,158,861$ 4,146,448$ 4,183,959$ 21,990,091$ 20,342,820$
Governmental Business-type
Activities Activities Total
Net position may serve over time as a useful indicator of a government's financial position. The City of Parkville’s
assets and deferred outflows exceeded liabilities and deferred inflows by $21,990,091 at the close of the year
ended December 31, 2022.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2022
7
Figure 2 – Statement of Changes in Net Position
Activities Activities Total
2022
Revenues:
Program revenues:
Charges for services 1,003,559$ 1,107,311$ 1,735,521$ 1,628,972$ 2,739,080$ 2,736,283$
Operating grants and contributions 348,124 424,090 - - 348,124 424,090
Capital grants and contributions 3,629,190 3,520,049 21,132 17,663 3,650,322 3,537,712
General revenues:
Property taxes 2,282,158 1,969,725 - - 2,282,158 1,969,725
Sales taxes 3,586,772 3,042,926 - - 3,586,772 3,042,926
Franchise taxes 894,393 812,268 - - 894,393 812,268
Intergovernmental activity taxes 250,075 218,543 - - 250,075 218,543
Other taxes 67,178 6,410 - - 67,178 6,410
Gain on sale of assets 3,535 36,660 - - 3,535 36,660
IntereOther 399,398 99,676 25,311 7,007 424,709 106,683
Total revenues 12,464,382 11,237,658 1,781,964 1,653,642 14,246,346 12,891,300
Expenses:
General government 1,762,311 1,649,704 - - 1,762,311 1,649,704
Public safety 1,701,816 1,564,058 - - 1,701,816 1,564,058
Public works 2,998,301 5,788,532 - - 2,998,301 5,788,532
Parks and recreation 1,337,604 812,238 - - 1,337,604 812,238
Community development 2,832,615 952,431 - - 2,832,615 952,431
Interest on long-term debt 146,953 231,620 - - 146,953 231,620
Sewer - - 1,819,475 1,695,302 1,819,475 1,695,302
Total expenses 10,779,600 10,998,583 1,819,475 1,695,302 12,599,075 12,693,885
Change in net position 1,684,782 239,075 (37,511) (41,660) 1,647,271 197,415
Net position, beginning 16,158,861 15,919,786 4,183,959 4,225,619 20,342,820 20,145,405
Net position, ending 17,843,643$ 16,158,861$ 4,146,448$ 4,183,959$ 21,990,091$ 20,342,820$
2021
Governmental Business-type
202220222021 2021
The City's net position increased $1,647,271 during the 2022 fiscal year. Of the total, governmental activities
net position increased $1,684,782 and business-type activities net position decreased by $37,511. Total 2022
governmental revenues increased $1,226,724 from 2021 primarily due to increases in property taxes (PILOTS),
sales taxes, franchise taxes and insurance proceeds. Sales taxes increased $543,846 primarily from increased
economic activity from the Creekside development. Total governmental activities expenses decreased
$218,983. Contributing factors include a decrease in Public Works expenses of $2,790,231 mainly from less
Route 9 expenses than in 2021. Community Development expenses increased $1,880,184 over 2021 primarily
due to Creekside developer reimbursements and Creekside land acquisition payments to the City.
Total 2022 business-type activities charges for services revenues increased $106,549 from 2021. Total
business-type expenses increased $124,173 from 2021 primarily resulting from increases in line maintenance
and repairs.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2022
8
Financial Analysis of the Government’s Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements.
Governmental Funds
The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and
balances of spendable resources. Such information is useful in assessing the City’s financing requirements. In
particular, unassigned fund balances may serve as a useful measure of a government’s net resources available
for spending at the end of the fiscal year.
As mentioned earlier in this analysis, at the end of the current fiscal year, the City’s governmental funds reported
combined ending fund balances of $5,605,347. Of this amount $4,388,225 is non-spendable, restricted,
committed or assigned for various purposes and $1,217,122 is unassigned.
The General Fund is the main operating fund of the City. At the end of the current fiscal year the general fund
balance was $2,696,171. As a measure of the general fund’s liquidity, it is useful to compare unassigned fund
balance to total fund expenditures. Unassigned fund balance represents 23.1% of total general fund
expenditures. Included in the general fund’s committed fund balance is the City’s emergency reserve fund which
totaled $1,332,108 at December 31, 2022.
The City’s fund balance of the general fund increased $621,760 during the current fiscal year. General Fund
revenues increased by $269,919 from 2021 primarily related to increases in tax revenues of $333,987. 2022
General Fund expenditures were approximately $329,172 more than 2021 primarily due to parks and
recreation.
At December 31, 2022, the Transportation Sales Tax Fund has an ending fund balance of $367,769. The fund
balance increased $75,924 during the year mainly due to increases in taxes and intergovernmental revenues.
The Debt Service Fund has a total fund balance of $88,068, all of which is restricted for the payment of principal,
interest, and fees.
The Capital Projects Fund has a total fund balance of $310,943, an increase of $67,532 from 2021.
Proprietary Fund
The City’s proprietary fund provides the same type of information found in the government-wide financial
statements, but in more detail. The net position of the sewer fund at the end of the year totaled $4,146,448 of
which $788,729 is unrestricted. The sewer fund’s net position decreased by $37,511 from the prior year.
General Fund Actual to Budget Analysis
Actual revenues exceeded budgeted revenues by $362,175 primarily related to taxes and intergovernmental
revenues. Actual expenditures were $153,400 under the final budget. The City routinely outperforms budget
due to careful management, conservative budgeting, and personnel savings due to routine vacancies
throughout the year. Costs were managed well below budget.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2022
9
Capital Asset and Debt Administration
Capital Assets
At the end of year, the City had $18,830,694 invested in capital assets including land, construction in progress,
buildings, equipment, vehicles, infrastructure, and sewer lines net of accumulated depreciation. (See table
below) This represents a net increase of $645,900 from last year as current year capital asset additions
primarily related to contributed infrastructure assets exceeded depreciation expense.
City of Parkville, Missouri
Capital Assets (Net of Depreciation)
Additional information on the City’s capital assets can be found in Note 7 in the Notes to the Basic Financial
Statements.
2022 2021 2022 2021 2022 2021
Land 2,719,880$ 2,719,880$ 81,783$ 59,975$ 2,801,663$ 2,779,855$
Construction in progress 24,759 - - - 24,759 -
Buildings and improvements 2,990,769 3,046,241 1,143,447 1,163,735 4,134,216 4,209,976
Equipment and vehicles 298,737 382,095 23,930 4,926 322,667 387,021
Infrastructure 9,235,546 8,425,182 2,311,843 2,382,760 11,547,389 10,807,942
Total 15,269,691$ 14,573,398$ 3,561,003$ 3,611,396$ 18,830,694$ 18,184,794$
Total
Governmental Business-Type
Activities Activities
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2022
10
Long-Term Obligations - At the end of the current fiscal year, the City had total long-term obligations
outstanding of $10,579,776.
City of Parkville, Missouri
Outstanding Debt
2022 2021 2022 2021 2022 2021
Limited General Obligation Bonds 6,245,000$ 6,725,000$ -$ -$ 6,245,000$ 6,725,000$
Certificates of Participation 3,861,609 4,736,126 - - 3,861,609 4,736,126
Compensated Absences 95,249 81,840 - - 95,249 81,840
Revenue Bonds (plus premium) - - 377,918 550,837 377,918 550,837
Total 10,201,858$ 11,542,966$ 377,918$ 550,837$ 10,579,776$ 12,093,803$
Total
Governmental Business-Type
Activities Activities
The governmental activities decreased by $1,341,108 and the business-type activities decreased $172,919.
Additional information on the City’s long-term obligations can be found in Note 8 in the Notes to the Basic
Financial Statements.
Economic Factors and Next Year’s Budgets and Rates
The 2023 budget maintains essential services at current levels and directs additional resources toward the 2023
Priorities as established by the Board of Aldermen in August 2022: Operational Excellence, Sustainable
Infrastructure and Public Facilities, Quality Development, Choice Parks and Recreation, Open
Communications. The 2023 budget process started by reviewing balanced five-year financial forecasts early in
the budget process. Along with these forecasts, the City consolidated all transportation and parks and recreation
activities into their own sales tax supported funds. This move has assisted the Governing Body to create a
succinct and planned out five-year capital improvements program (CIP) that balances with the financial
forecasts. The first year of the CIP was then combined with the 2023 operational budget that matched
expenditures to the strategic goals. The City has seen steady growth in its retail, residential, and commercial
base that bodes well for future financial security. The multi-phased project known as “Creekside” at the
southeast, southwest, and northwest quadrants of the intersection of Highway 45 and Interstate 435 has
experienced significant growth and as a result, the City has seen an increase in sales taxes. Continued build-
out of this and other developments have been made throughout 2022 and 2023.
Contacting the City’s Financial Management
This report is designed to provide our citizens, taxpayers, customers and creditors with a general overview of
the City’s finances and to demonstrate the City’s accountability for the money it receives. If you have questions
about this report or need additional financial information, contact the City Clerk’s office, Parkville, Missouri.
Exhibit A
Governmental Business-type
Activities Activities Total
Assets
Cash and investments 4,252,528$ 722,645$ 4,975,173$
Receivables:
Taxes 732,291 - 732,291
Special assessments 2,139,705 - 2,139,705
Accounts and other 402,743 - 402,743
Leases 331,000 245,492 576,492
Notes receivables 5,075,000 - 5,075,000
Due from other governments 1,736,435 - 1,736,435
Prepaids, deposits, and other assets 146,941 - 146,941
Restricted assets:
Cash and investments 910,030 188,119 1,098,149
Capital assets:
Not being depreciated 2,744,639 81,783 2,826,422
Being depreciated 12,525,052 3,479,220 16,004,272
Total assets 30,996,364 4,717,259 35,713,623
Deferred Outflows of Resources
Deferred amount on refunding 12,358 - 12,358
Deferred outflow - pension related activity 334,568 - 334,568
Total deferred outflows of resources 346,926 - 346,926
Liabilities
Accounts payable 592,547 165,755 758,302
Accrued payroll and benefits 61,797 778 62,575
Accrued interest 48,316 12,875 61,191
Unearned revenue 859,114 - 859,114
Payable from restricted assets:
Customer deposits - 13,485 13,485
Long term debt:
Due within one year 1,160,723 170,000 1,330,723
Due in more than one year 9,138,813 207,918 9,346,731
Net pension liability 434,144 - 434,144
Total liabilities 12,295,454 570,811 12,866,265
Deferred Inflows of Resources
Deferred inflow - leases 324,798 - 324,798
Deferred inflow - property taxes 383,323 - 383,323
Deferred inflow - pension related activity 260,530 - 260,530
Deferred amount on refunding 235,542 - 235,542
Total deferred inflows of resources 1,204,193 - 1,204,193
Net Position
Net investment in capital assets 11,259,898 3,183,085 14,442,983
Restricted :
Capital projects 389,973 - 389,973
Debt service 88,068 174,634 262,702
Public safety 97,049 - 97,049
Parks and recreation 1,246,768 - 1,246,768
Community development 196,151 - 196,151
Fewson trust (non-expendable)580,224 - 580,224
Unrestricted 3,985,512 788,729 4,774,241
Total net position 17,843,643$ 4,146,448$ 21,990,091$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Net Position
December 31, 2022
Primary Government
11
Exhibit B
Net (Expense) Revenue and Changes in Net Position
Operating Capital
Charges for Grants and Grants and Governmental Business-Type
Functions/Programs Expenses Services Contributions Contributions Activities Activities Total
Primary government:
Governmental activities
General government 1,762,311$ 874,592$ -$ -$ (887,719)$ -$ (887,719)$
Public safety 1,701,816 48,362 22,410 - (1,631,044) - (1,631,044)
Public works 2,998,301 41,035 272,611 2,800,464 115,809 - 115,809
Parks and recreation 1,337,604 39,570 53,103 455,306 (789,625) - (789,625)
Community development 2,832,615 - - 373,420 (2,459,195) - (2,459,195)
Interest on long-term debt 146,953 - - - (146,953) - (146,953)
Total governmental activities 10,779,600 1,003,559 348,124 3,629,190 (5,798,727) - (5,798,727)
Business-type activities
Sewer 1,819,475 1,735,521 - 21,132 - (62,822) (62,822)
Total business-type activities 1,819,475 1,735,521 - 21,132 - (62,822) (62,822)
Total primary government 12,599,075$ 2,739,080$ 348,124$ 3,650,322$ (5,798,727) (62,822) (5,861,549)
General revenues:
Taxes:
Property taxes, levied for general purpose 1,804,110 - 1,804,110
Property taxes, levied for debt service 478,048 - 478,048
Sales taxes 3,586,772 - 3,586,772
Franchise taxes 894,393 - 894,393
Intergovernmental activity taxes 250,075 - 250,075
Other taxes 67,178 - 67,178
Unrestricted investment earnings 24,371 2,519 26,890
Gain on sale of assets 3,535 - 3,535
Insurance proceeds and other 375,027 22,792 397,819
Total general revenues 7,483,509 25,311 7,508,820
Change in net position 1,684,782 (37,511) 1,647,271
Net position, beginning of year 16,158,861 4,183,959 20,342,820
Net position, end of year 17,843,643$ 4,146,448$ 21,990,091$
See accompanying notes to the basic financial statements
Program Revenues Primary Government
CITY OF PARKVILLE, MISSOURI
Statement of Activities
For the Year Ended December 31, 2022
12
Exhibit C
Transportation Capital Nonmajor Total
General Sales Tax Debt Service Projects Governmental Governmental
Fund Fund Fund Fund Funds Funds
Assets
Cash and investments 1,595,237$ 263,737$ -$ -$ 2,393,554$ 4,252,528$
Receivables:
Taxes 409,384 132,986 - - 189,921 732,291
Special assessments - - 2,139,705 - - 2,139,705
Other receivables - - - - 402,743 402,743
Leases 331,000 - - - - 331,000
Notes receivables 5,075,000 - - - - 5,075,000
Due from other governments 114,885 20,583 - 1,600,967 - 1,736,435
Due from other funds 979,188 - - - - 979,188
Prepaids, deposits and other assets 146,941 - - - - 146,941
Restricted cash and investments - - 307,602 - 602,428 910,030
Total Assets 8,651,635$ 417,306$ 2,447,307$ 1,600,967$ 3,588,646$ 16,705,861$
Liabilities
Accounts payable 299,408$ 49,537$ -$ 177,479$ 66,123$ 592,547$
Accrued payroll and benefits 61,797 - - - - 61,797
Unearned revenue - - - - 859,114 859,114
Due to other funds - - 69,029 910,159 - 979,188
Total Liabilities 361,205 49,537 69,029 1,087,638 925,237 2,492,646
Deferred inflows of resources
Unavailable revenues:
Leases 324,798 - - - - 324,798
Notes receivables 5,075,000 - - - - 5,075,000
Grants - - - 202,386 - 202,386
Special assessments, property
taxes, and insurance recovery 194,461 - 2,290,210 - 521,013 3,005,684
5,594,259 - 2,290,210 202,386 521,013 8,607,868
Fund balances:
Nonspendable:
Prepaid items 146,941 - - - - 146,941
Fewson trust - - - - 580,224 580,224
Restricted:
Capital projects - 367,769 - - 22,204 389,973
Debt service - - 88,068 - - 88,068
Public safety - - - - 97,049 97,049
Parks and recreation - - - - 1,246,768 1,246,768
Community development - - - - 196,151 196,151
Committed:
Emergency reserve 1,332,108 - - - - 1,332,108
Assigned:
Capital projects - - - 310,943 - 310,943
Unassigned 1,217,122 - - - - 1,217,122
Total fund balance 2,696,171 367,769 88,068 310,943 2,142,396 5,605,347
Total liabilities, deferred inflows
of resources and fund balances 8,651,635$ 417,306$ 2,447,307$ 1,600,967$ 3,588,646$ 16,705,861$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Balance Sheet - Governmental Funds
December 31, 2022
13
Exhibit C
Continued
Fund balances of governmental funds 5,605,347$
7,697,361
15,269,691
(223,184)
74,038
(48,316)
(434,144)
Long-term liabilities (10,299,536)
Net position of governmental activities 17,843,643$
See accompanying notes to the basic financial statements
The issuance of long-term debt provides current financial resources to
governmental funds, while the repayment of the principal of long-term debt
consumes the current financial resources of governmental funds. Neither
transaction has any effect on net position. Also, governmental funds report the
effect of premiums, discounts and similar items when debt is first issued, whereas
these amounts are deferred and amortized in the statement of activities. This
amount isthe net effect of these differencesin the treatment of long-term debt and
related items:
Deferred amounts on refunding are not due or payable in the current period and
therefore are not reported in the governmental fund statements.
Deferred outflows and inflows related to pension activity are not required to be
reported in the governmental funds but are required to be reported in the
Statement of Net Position
The net pension liability is not due and payable and therefore is not recorded in the
governmental fund statements.
Long-term note receivable, special assessments, and insurance receivables are
not available to pay for current period expenditures and are therefore deferred in
the fund statements
Liabilities for interest on long-term debt are recognized only when due in the
governmental fund statements but are accrued in the government-wide
statements.
Amounts reported for governmental activities in the Statement of Net Position are
different because:
CITY OF PARKVILLE, MISSOURI
Reconciliation of the Balance Sheet - Governmental Funds to the Statement of Net Position
December 31, 2022
Capital assets used in governmental activities are not financial resources and
therefore are not reported in the governmental fund statements.
14
Exhibit D
Transportation Capital Nonmajor Total
General Sales Tax Debt Service Projects Governmental Governmental
Fund Fund Fund Fund Funds Funds
Revenues:
Taxes 3,720,882$ 629,500$ 478,048$ -$ 1,983,137$ 6,811,567$
Intergovernmental 224,416 585,298 215,816 1,398,582 595,138 3,019,250
Charges for services 37,417 - - - 784 38,201
Fines and forfeitures 47,578 - - - - 47,578
Licenses and permits 546,783 - - - - 546,783
Special assessments - - 284,903 - 373,421 658,324
Grants and donations - - - - 60,904 60,904
Charges for sewer administration 350,000 - - - - 350,000
Interest 22,751 - 340 - 1,280 24,371
Other 107,423 9,779 - - 14,570 131,772
Total Revenues 5,057,250 1,224,577 979,107 1,398,582 3,029,234 11,688,750
Expenditures:
Current:
General government 1,680,776 - - - - 1,680,776
Public safety 1,738,165 - - - 26,488 1,764,653
Public works 556,423 - - - - 556,423
Parks and recreation 893,570 - - - 522,302 1,415,872
Community development 389,625 - - - 2,469,553 2,859,178
Capital outlay - 710,678 - 1,656,050 - 2,366,728
Debt service:-
Principal - - 1,250,103 - 1,250,103
Interest and fiscal charges - - 192,815 - - 192,815
Total Expenditures 5,258,559 710,678 1,442,918 1,656,050 3,018,343 12,086,548
Excess of Revenues Over (Under) Expenditures (201,309) 513,899 (463,811) (257,468) 10,891 (397,798)
Other financing sources (uses):
Transfers in 318,693 9,787 515,625 325,000 164,430 1,333,535
Transfers out (292,863) (447,762) (1,257) - (591,653) (1,333,535)
Sale of land and capital assets 528,535 - - - - 528,535
Insurance proceeds 268,704 - - - 52,563 321,267
Total Other Financing Sources (Uses)823,069 (437,975) 514,368 325,000 (374,660) 849,802
Net change in fund balances 621,760 75,924 50,557 67,532 (363,769) 452,004
Fund balances, beginning of year 2,074,411 291,845 37,511 243,411 2,506,165 5,153,343
Fund balances, end of year 2,696,171$ 367,769$ 88,068$ 310,943$ 2,142,396$ 5,605,347$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Revenues, Expenditures and
Changes in Fund Balances - Governmental Funds
For the Year Ended December 31, 2022
15
Exhibit D
(continued)
Amounts reported for governmental activities in the Statement of Activities are
different because:
Net change in fund balances - total governmental funds 452,004$
Governmental funds report capital outlays as expenditures.
However, in the Statement of Activities the cost of those
assets is allocated over their estimated useful lives and
reported as depreciation expense.
Capital outlay costs in excess of capitalization threshold 353,642
Depreciation (567,323)
Donated capital assets 909,974
Revenues in the statement of activities that do not provide
current financial resources are reported as deferred inflows
in the governmental funds.
Changes in special assessments, notes receivable, and
grants (459,144)
The issuance of long-term debt provides current financial
resources to governmental funds, while the repayment of the
principal of long-term debt consumes the current financial
resources of governmental funds. Neither transaction has
any effect on net position.
Principal payments on long-term debt 1,250,103
Changes in unamortized bond issuance premium and
deferred amounts on refunding 24,862
Changes in accrued interest expense 21,000
Some expenses reported in the Statement of Activities do
not require the use of current financial resources and,
therefore, are not reported as expenditures in governmental
funds.
224,664
Change in net position of governmental activities 1,684,782$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances -
For the Year Ended December 31, 2022
Governmental Funds to the Statement of Activities
Changes in compensated absences and net pension liability
16
Exhibit E
Sewer
Fund
Assets
Current assets:
Cash and investments 722,645$
Receivables, net:
Accounts and other 245,492
Restricted cash and investments 188,119
Total current assets 1,156,256
Noncurrent assets:
81,783
3,479,220
Total noncurrent assets 3,561,003
Total assets 4,717,259
Liabilities
Current liabilities:
Accounts payable 165,755
Accrued liabilities 778
Current liabilities (payable from restricted assets):
Customer deposits 13,485
Interest payable 12,875
Current portion of bonds payable 170,000
Total current liabilities:362,893
Long-term liabilities:
Bonds payable 207,918
Total long-term liabilities:207,918
Total liabilities 570,811
Net position
Net investment in capital assets 3,183,085
Restricted net position for:
Debt service 174,634
Unrestricted 788,729
Total net position 4,146,448$
See accompanying notes to the basic financial statements
Being depreciated, net of depreciation
CITY OF PARKVILLE, MISSOURI
Statement of Net Position
Proprietary Fund
December 31, 2022
Capital assets:
Not being depreciated
17
Exhibit F
Sewer
Fund
Operating revenues:
Charges for services 1,735,521$
Other 22,792
Total operating revenues 1,758,313
Operating expenses:
Personnel services 48,656
Contractual services 361,844
Administrative fee 350,000
Depreciation 261,044
Repairs and maintenance 711,545
Other 62,457
Total operating expenses 1,795,546
Operating income (loss) (37,233)
Nonoperating revenues (expenses):
Intergovernmental revenues 21,132
Interest income 2,519
Interest expense (23,929)
Total nonoperating revenues (expenses) (278)
Change in net position (37,511)
Total net position, beginning of year 4,183,959
Total net position, end of year 4,146,448$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Revenues, Expenses and Changes in Fund Net Position
Proprietary Fund
For the Year Ended December 31, 2022
18
Exhibit G
Sewer
Fund
Cash flows from operating activities:
Receipts from customers and others 1,716,468$
Payments to suppliers (1,395,937)
Payments to employees (49,882)
Net cash provided by (used in) operating activities 270,649
Cash flows provided by noncapital financing activities:
Intergovernmental revenues 21,132
Net cash flows provided by noncapital financing activities 21,132
Cash flows from investing activities:
Interest received 2,519
Net cash flows provided by investing activities 2,519
Cash flows from capital
and related financing activities:
Interest and fiscal charges (31,848)
Principal payments on long-term debt (165,000)
Net cash flows (used in) capital
and related financing activities (407,499)
Net change in cash and equivalents (113,199)
Cash and equivalents, beginning of year 1,023,963
Cash and equivalents, end of year 910,764$
Cash and investments reported on the
Statement of Net Position
Cash and investments 722,645$
Restricted cash and investments 188,119
Total cash and investments 910,764$
Reconciliation of operating income (loss) to net cash
provided by (used in) operating activities:
Operating income (loss) (37,233)$
Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operations:
Depreciation and amortization 261,044
Changes in:
Receivables (41,845)
Accounts payable 89,909
Accrued liabilities (1,226)
Net cash provided by (used in) operating activities 270,649$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Cash Flows
Proprietary Fund
For the Year Ended December 31, 2022
19
Exhibit H
Custodial Fund
Municipal
Court
Assets
Cash and investments 2,344$
Total assets 2,344
Liabilities
Due to others 2,344
Total liabilities 2,344
Net Position -$
See accompanying notes to the basic financial statements
December 31, 2022
CITY OF PARKVILLE, MISSOURI
Statement of Fiduciary Net Position
Fiduciary Fund
20
Exhibit I
Custodial Fund
Municipal
Court
Additions
Deposits 61,920$
Total Additions 61,920
Deductions
Payments to others 61,920
Total deductions 61,920
Net changes in fiduciary net position -
Net position - beginning -
Net position - ending -$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Changes in Fiduciary Net Position
Fiduciary Fund
For the Year Ended December 31, 2022
21
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
22
(1) Summary of Significant Accounting Policies
The City of Parkville, Missouri (the City) was incorporated on February 6, 1957. The City is a fourth class
city and operates under a Mayor-Board of Aldermen form of government. The City Administrator is the chief
administrative officer of the City. The City provides services to approximately 8,500 residents in many areas,
including law enforcement, sewer services, community enrichment and development, and various social
services.
The accounting and reporting policies of the City conform to generally accepted accounting principles
(GAAP) in the United States of America applicable to local governments. The following represent the more
significant accounting and reporting policies and practices of the City.
A. Financial Reporting Entity
In evaluating how to define the government for financial reporting purposes, management has considered
all potential component units. Component units are separate legal entities which are included in the primary
government’s financial report. The decision to include a potential component unit in the reporting entity was
made by applying the criteria set forth in GAAP. The basic, but not only, criterion for including a potential
component unit within the reporting entity is the City’s financial accountability for the potential component
unit. An entity is considered a component unit if City officials appoint a voting majority of the component
unit’s governing body and the City is able to impose its will upon the component unit. Additionally, if the
entity provides specific financial benefits to or imposes specific financial burdens on the City, it may be
considered a component unit.
This report includes the financial statements of the City (the primary government) and its blended
component unit, the City of Parkville, Missouri Tax Increment Financing (TIF) Commission (the
Commission). The Commission is governed by a board of which six members are appointed by the Mayor
with the consent of the Board of Alderman, two members appointed by the school board whose district is
in the boundary of the redevelopment area, and one member appointed by the affected taxing district.
Although it is legally separate from the City, the Commission is reported as if it were part of the primary
government because its sole function is to use TIF as a method to finance economic development through
payments in lieu of taxes (PILOTS) and economic activity taxes (EATS). The Commission does not issue
separate financial statements.
B. Basis of Presentation
The City’s basic financial statements include both government-wide (reporting the City as a whole) and
fund financial statements (reporting the City’s major funds).
Government-wide financial statements
The statement of net position and the statement of activities display information about the City, the primary
government, as a whole. These statements distinguish between the governmental and business-type
activities of the City. Governmental activities generally are financed through taxes, intergovernmental
revenues, and other non-exchange transactions. Business-type activities are financed in whole or in part
by fees charged to external parties. Expenses are specifically associated with a service, program, or
department and are therefore clearly identifiable to a particular function. Program revenues include charges
paid by the recipients of the goods or services offered by the programs and grants and contributions that
are restricted to meeting the operational or capital requirements of a particular program. Revenues that are
not classified as program revenues are presented as general revenues. The comparison of program
revenues and expenses identifies the extent to which each program is self-financing or draws from the
general revenues of the City.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
23
Fund financial statements
Fund financial statements report detailed information about the City. The focus of governmental and
proprietary fund financial statements is on major funds rather than reporting funds by type. Each major
fund is presented in a separate column. Non-major funds are aggregated and presented in a single column.
GOVERNMENTAL FUNDS
Governmental Funds are those through which most governmental functions of the City are financed. The
acquisition, use, and balances of the City’s expendable financial resources and the related liabilities (other
than those in Proprietary Funds) are accounted for through Governmental Funds. The measurement focus
is upon determination of financial position and changes in financial position, rather than upon net income
determination.
The following are the City’s major governmental funds:
General Fund – the general fund of the City accounts for all financial transactions not accounted for in other
funds. For financial reporting purposes, the City’s Emergency Reserve Fund’s activities are included in the
General Fund.
Transportation Sales Tax Fund – This fund is used to account for revenues restricted for transportation
purposes including the half-percent transportation sales taxes collected and a county tax distribution for
capital improvements and the expenditures for the related items.
Debt Service Funds – This fund accounts for the accumulation of resources for, and the payment of,
principal and interest on long-term obligations of the City.
Capital Projects Fund – This fund is used to account for major capital improvement projects.
The City reports the following fund types of nonmajor funds:
Special Revenue Funds - These funds account for specific revenue sources that are restricted for specified
purposes.
Permanent Fund – This fund reports resources that are legally restricted to the extent that only earnings,
not principal, may be used for purposes that support City programs.
PROPRIETARY FUND
Proprietary Funds are used to account for the City’s ongoing activities which are similar to those found in
the private sector. The measurement focus is upon determination of net income, financial position, and
changes in financial position.
The following is the City’s major proprietary fund:
The Sewer Service Fund – This fund accounts for the provision of wastewater and sewer services to the
general public. All activities necessary to provide such services are accounted for in this fund, including
administration, operations, maintenance, financing and related debt service, and billing and collection.
FIDUCIARY FUND
The City maintains one custodial fiduciary fund, the Municipal Court, which accounts for court bonds paid
by defendants. Since by definition these assets are being held for the benefit of a third party and cannot be
used to support activities or obligations of the City, these funds are not incorporated into the government-
wide statements.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
24
C. Basis of Accounting
Government-wide Financial Statements
The government-wide financial statements are reported using the economic resources measurement focus
and the accrual basis of accounting. Revenues are recorded when earned or when all eligibility
requirements have been satisfied and expenses are recorded at the time liabilities are incurred, regardless
of when the related cash flows take place. Nonexchange transactions, in which the City gives (or receives)
value without directly receiving (or giving) equal value in exchange, include property taxes, grants, sales
tax, and donations. Revenue from grants and donations is recognized in the fiscal year in which all eligibility
requirements have been satisfied. This is a similar approach to that used in the preparation of the
proprietary fund financial statements but differs from the manner in which governmental fund financial
statements are prepared. Therefore, the governmental fund financial statements include a reconciliation
with brief explanations to better identify the relationship between the government-wide statements and the
statements for governmental funds.
Governmental Fund Financial Statements
All governmental funds are accounted for using the modified accrual basis of accounting and the current
financial resources measurement focus. Under this basis, revenues are recognized in the accounting period
in which they become measurable and available. Expenditures are recognized in the accounting period in
which the fund liability is incurred, if measurable.
Revenue Recognition
In applying the susceptible to accrual concept under the modified accrual basis, certain revenue sources
are deemed both measurable and available (collectible within the current year or within 60 days after year-
end to pay obligations of the current period). This includes property taxes, investment earnings and state-
levied locally shared taxes (including motor vehicle fees). The City records property tax receivables at the
time the lien attaches to the property. Reimbursements due for federally funded projects are accrued as
revenue at the time the expenditures are made, or when received in advance, deferred until expenditures
are made.
Other revenues, including licenses and permits, certain charges for services, and miscellaneous revenues,
are recorded as revenue when received in cash because they are generally not measurable until actually
received.
Expenditure Recognition
The measurement focus of governmental fund accounting is on decreases in net financial resources
(expenditures) rather than expenses. Most expenditures are measurable and are recorded when the related
fund liability is incurred. However, principal and interest on general long-term debt, which have not matured
are recognized when due. Allocations of cost, such as depreciation and amortization, are not recognized
in the governmental funds.
Proprietary Fund Financial Statements
The economic resources measurement focus and the accrual basis of accounting are utilized by the
proprietary funds. Under this basis of accounting, revenues are recognized when earned and expenses
are recorded when liabilities are incurred. All assets and liabilities (whether current or noncurrent)
associated with a proprietary fund’s activities are included on its statement of net position and statement of
activities. Operating revenues and expenses for proprietary funds are those that result from providing
services and producing and delivering goods and/or services. All other revenues and expenses are
considered nonoperating.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
25
D. New Accounting Standard
The City implemented Government Accounting Standards Board (GASB) Statement No. 87, Leases,
effective for the year ended December 31, 2022. The statement is to better meet the information needs of
financial statement users by improving accounting and financial reporting for leases by governments. This
Statement increases the usefulness of governments’ financial statements by requiring recognition of certain
lease assets and liabilities for leases that were previously classified as operating leases and recognized as
inflows of resources or outflows of resources based on the payment provisions of the contract. The
Statement establishes a single model for lease accounting based on the foundational principle that leases
are financings of the right to use and underlying asset. Under this Statement, a lessee is required to
recognize a lease liability and an intangible right-to-use asset, and a lessor is required to recognize a lease
receivable and a deferred inflow of resources, thereby enhancing the relevance and consistency of
information about the City’s leasing activities.
E. Cash and Investments
Missouri State Statutes authorize the City, with certain restrictions, to deposit funds in open accounts, time
deposits, investment pools and certificates of deposit. Statutes also require that collateral pledged must
have a fair value equal to 100% of the funds on deposit, less insured amounts. Collateral securities must
be held by the City or an independent third party and must be of the kind prescribed by State Statutes and
approved by the State.
The City maintains and controls a cash pool in which a majority of the City’s funds share. Each fund’s
portion of the pool is displayed on their respective balance sheet or statement of net position as “cash and
investments”. The City’s cash and investments are primarily considered to be cash on hand, amounts in
demand deposits, certificates of deposits and US treasuries and agency securities. Interest earned on
demand deposits is allocated to the various funds on the basis of average month-end balances.
For purposes of the statement of cash flows, short-term investments, and certificates of deposit with a
maturity date within three months of the date acquired by the City, if any, are considered cash equivalents.
F. Accounts Receivable
Accounts receivable result primarily from miscellaneous services provided to citizens accounted for in the
Governmental Funds and Sewer Fund net of an allowance for doubtful accounts.
G. Special Assessments Receivable
Special assessments receivable reflects the property taxes collectible by the City for the purpose of
repaying certain Special Assessment debt held by the City. The amount collectible by the City is reduced
each year as the taxes are levied against the property and, subsequently, collected by the City.
H. Prepaid Items
Certain payments reflect costs applicable to future accounting periods and are recorded as prepaid items.
I. Capital Assets
Capital assets, which include property, equipment, and infrastructure assets (i.e., roads, streets lights,
storm sewers, etc.) are reported in the applicable governmental or business-type activities columns in the
government-wide financial statements. Capital assets are charged to expenditures as purchased in the
governmental fund statements and capitalized in the proprietary fund statements. Capital assets are
recorded at historical cost or estimated historical cost if purchased or constructed. Donated assets are
recorded at estimated fair value as of the date of the donation.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
26
As the City is a Phase III government under Governmental Accounting Standards Board (GASB) Statement
No. 34, it has elected to exercise its option to forego retroactively reporting governmental infrastructure
assets acquired prior to December 31, 2003. Governmental infrastructure assets on the statement of net
position include only infrastructure capital assets acquired subsequent to December 31, 2003.
Capital assets are defined by the City as assets with an initial, individual cost of $2,500 or more and an
estimated useful life of greater than one year. Additions or improvements and other capital outlays that
significantly extend the useful life of an asset, or that significantly increase the capacity of an asset are
capitalized. Other costs incurred for repairs and maintenance is expensed as incurred. Fully depreciated
capital assets are included in their respective accounts until their disposal.
Depreciation on exhaustible assets is recorded as an allocated expense in the Statement of Activities with
accumulated depreciation reflected in the Statement of Net Position and is provided on the straight-line
basis over the following estimated useful lives:
Infrastructure 20 – 40 years
Buildings and improvements 20 – 40 years
Equipment and vehicles 5 – 10 years
Sewer plant and collection systems 20 – 50 years
J. Compensated Absences
Under terms of the City’s personnel policy, City employees are granted vacation in varying amounts.
Vacation days are required to be taken within the current or following calendar year in which earned. In the
event of retirement or termination, an employee is paid for unused vacation days.
Vested or accumulation vacation is accounted for as follows:
Governmental Funds - The accumulated liabilities for employee vacation is recorded in the governmental
activities column of the government-wide financial statements.
K. Deferred Outflows/inflows of Resources
In addition to assets, the statement of net position will sometimes report a separate section for deferred
outflows of resources. This separate financial statement element, deferred outflows of resources,
represents a consumption of net assets that applies to a future period(s) and so will not be recognized as
an outflow of resources (expense/expenditure) until then. The City has two items that qualify for reporting
in this category. The first item is the deferred charge on refunding reported in the government-wide
statement of net position. A deferred charge on refunding results from the difference in the carrying value
of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter life of
the refunding or refunded debt. The second item results from actuarial assumption changes, the change in
actual and projected experience, and pension contributions made by the City subsequent to the pension
valuation date. The contribution amount will be applied during the next fiscal year while the changes in
actual versus projected amounts and change in assumptions will be amortized over five to seven years.
In addition to liabilities, the statement of net position will sometimes report a separate section for deferred
inflows of resources. This separate financial statement element, deferred inflows of resources, represents
an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of
resources (revenue) until that time. The City has several types of items, which arises under the accrual and
modified accrual basis of accounting, which qualify for reporting in this category. The first one relates to
changes in assumptions, the change in actual and projected experience in calculating the pension liability,
and the difference between actual and projected earnings in calculating the net pension liability. The second
item, unavailable revenue, is reported in both the statement of net position and in the governmental funds
balance sheet. The governmental funds report unavailable revenues related to taxes, notes receivable,
special assessments, insurance proceeds, and grants. The third item related to leases receivable which
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
27
will recognize inflow of resources in future periods over the term of the leases are reported in the
government-wide and governmental fund statements. The final item is the deferred credit on refunding
reported in the government-wide statement of net position. A deferred credit on refunding results from the
difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and
amortized over the shorter of the life of the refunding or refunded debt. These amounts are deferred and
recognized as an inflow of resources in the period that the amounts become available.
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of
resources related to pensions, and pension expense, information about the fiduciary net position of the
Missouri Local Government Employees Retirement System (LAGERS) and additions to/deductions from
LAGERS fiduciary net position have been determined on the same basis as they are reported by LAGERS.
For this purpose, benefit payments (including refunds of employee contributions) are recognized when due
and payable in accordance with the benefit terms.
L. Interfund Activity
Loans – amounts provided with a requirement for repayment. Interfund loans are reported as interfund
receivables (i.e., due from other funds) in lender funds and interfund payables (i.e. due to other funds) in
borrower funds.
Services provided and used – sales and purchases of goods and services between funds for a price
approximating their fair value. Interfund services provided and used are reported as revenues in funds
providing the good or service and expenditures or expenses in the fund purchasing the good or service.
Unpaid amounts are reported as interfund receivables and payables in the fund balance sheets or
statement of net position.
The General fund provides administrative and other support services for the Sewer fund. Amounts charged
to the Sewer fund for such services were $350,000 for the year ended December 31, 2022.
Reimbursements – repayments from the funds responsible for particular expenditures or expenses to the
funds that initially paid for them. Reimbursements are reported as expenditures in the reimbursing fund and
as a reduction of expenditures in the reimbursed fund.
Transfers – flows of assets (such as cash or goods) without equivalent flows of assets in return and without
a requirement for repayment. In governmental funds, transfers are reported as other financing uses in the
funds making transfers and as other financing sources in the funds receiving transfers.
M. Fund Balances
In the fund financial statements, governmental funds report the following fund balance classifications:
Non-Spendable – This consists of amounts that cannot be spent because they are either not in spendable
form or legally or contractually required to be maintained intact.
Restricted – This consists of amounts where constraints are placed on the use of those resources which
are either externally imposed by creditors, grantors, contributors, laws, or regulations of other governments,
or imposed by law through constitutional provisions or enabling legislation.
Committed – This consists of amounts which can only be used for specific purposes determined by a formal
action of passing an ordinance or resolution by the Board of Aldermen, the City’s highest level of decision-
making authority. Any changes or removal of specific purpose requires the same action by the Board of
Aldermen.
Assigned – This consists of amounts which are constrained by City management’s intent to be used for a
specific purpose but do not meet the criteria to be classified as committed. In accordance with the approved
City policy only the Board of Alderman has the authority to assign amounts for a specific purpose in this
category.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
28
Unassigned – This consists of the residual fund balance that does not meet the requirements for the non-
spendable, restricted, committed, or assigned classifications. A positive unassigned fund balance is only
possible in the general fund.
The City has a fund balance policy that provides guidance for programs with multiple revenue sources. The
policy is to use restricted resources first when an expenditure is incurred for purposes for which both
restricted and unrestricted fund balance is available. For purposes of fund balance classification
expenditures are to be spent from restricted fund balance first, followed in order by committed fund balance,
assigned fund balance and lastly unassigned fund balance.
Per policy, the general fund balance should be no less than 5% of general fund appropriations for the
succeeding fiscal year in order to provide adequate cash flow and emergency cash funding. The City will
endeavor to maintain a general fund balance of 15% of general fund appropriations for the succeeding
fiscal year. Amounts over 15% may be transferred into the emergency reserve fund.
N. Net Position Classifications
In the government-wide statements, equity is shown as net position and classified into three components:
(1) Net investment in capital assets – consisting of capital assets including restricted capital assets,
net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgage
notes, or other borrowings that are attributable to the acquisition, construction, or improvement of
those assets.
(2) Restricted net position – consisting of net position with constraints placed on their use either by
(1) external groups such as creditors, grantors, contributors, or laws or regulations of other
governments; or (2) law through constitutional provisions or enabling legislation. The City first
utilizes restricted resources to finance qualifying activities.
(3) Unrestricted net position – All other net position that do not meet the definition of “restricted” or
“net investment in capital assets.”
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond or
grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted net
position and unrestricted net position in the government-wide and proprietary fund financial statements, a
flow assumption must be made about the order in which the resources are considered to be applied. It is
the City’s policy to consider restricted net position to have been depleted before unrestricted net position is
applied.
O. Use of Estimates
The preparation of the basic financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the
date of the basic financial statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
29
(2) Cash and Investments
A reconciliation of cash and investments as shown on the government-wide statement of net position
and statement of fiduciary net position is as follows:
Government-wide Fiduciary fund
statement statement
of net position of net position Total
Cash and investments 4,975,173$ 2,344$ 4,977,517$
Restricted cash and investments 1,098,149 - 1,098,149
6,073,322$ 2,344$ 6,075,666$
Custodial Credit Risk
The custodial credit risk for deposits is the risk that, in the event of failure of a depository financial institution,
the City will not be able to recover deposits or will not be able to recover collateral securities that are in the
possession of an outside party. The custodial credit risk for investments is that, in the event of the failure
of a counterparty to a transaction, the City will not be able to recover the value of investment or collateral
securities that are in the possession of an outside party. The City’s policy is to collateralize deposits with
securities held by the financial institution’s agent and in the City’s name.
As of December 31, 2022, the City’s deposits were insured with Federal depository insurance, with the
remaining uninsured balance collateralized by securities held in the City’s name by their financial
institution’s agent. Accordingly, management has determined that none of the City’s deposits were exposed
to custodial credit risk as of December 31, 2022.
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value
to changes in market interest rates. The City structures the investment portfolio so that securities mature
to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open
market prior to maturity and by investing operating funds primarily in shorter-term securities. The City has
elected to use the segmented time distribution method of disclosure for its interest rate risk.
Fair Value Measurements
The City categorizes its fair value measurements within the fair value hierarchy established by general
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
value of the asset. Level 1 inputs are quoted in active markets for identical assets; Level 2 inputs are
significant other observable inputs such as third party pricing services for identical assets; Level 3 inputs
are significant unobservable inputs.
Cash on hand 581$
Demand deposits 5,496,001
Certificates of deposits 354,412
US treasuries and agency securities 50,038
Restricted cash equivalents held in trust 174,634
6,075,666$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
30
The City has the following recurring fair value measurements as of December 31, 2022.
All of the City’s investments are classified as Level 1 of the fair value hierarchy using prices quoted in active
markets for those securities.
(3) Tax Revenues and Taxes Receivable
The City’s property taxes are levied and recorded each November 1 on the assessed value as of the prior
January 1 for all property located in the City and are delinquent on January 1 (the lien date) following the
levy date. Assessed values are established by county assessors, subject to review by the County’s Board
of Equalization. The assessed value of local property at January 1, 2021, was $315,362,274.
The City is permitted by the Missouri State Constitution to levy (without a vote of two-thirds of the voting
electorate) taxes up to $1.00 per $100 of assessed valuation for general governmental services other than
the payment of principal and interest on long-term debt. The City’s property tax levies per $100 of assessed
valuation for the year in which the revenues were earned were as follows:
Fund Levy
General Fund $ 0.4400
General Revenue-
Temporary 0.1664
$ 0.6064
Tax revenues for the year ended December 31, 2022 consisted of the following:
Property Sales Franchise Other
Taxes Taxes Taxes Taxes Total
Major governmental funds:
General 1,475,442$ 1,351,047$ 894,393$ -$ 3,720,882$
Transportation Sales Tax - 629,500 - - 629,500
Debt Service 478,048 - - - 478,048
Nonmajor funds 328,667 1,597,732 - 56,738 1,983,137
2,282,157$ 3,578,279$ 894,393$ 56,738$ 6,811,567$
Level 1
Investment
Federal Home Loan Bank 50,038$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
31
Taxes receivable represent property, sales, and franchise taxes, including interest and penalties, reduced
by an appropriate allowance for uncollectable taxes. Taxes receivable consisted of the following at
December 31, 2022:
Sales Franchise
Taxes Taxes Total
Major governmental funds:
General $ 277,561 $ 131,823 $ 409,384
Transportation Sales Tax 132,986 - 132,986
Nonmajor funds 189,921 - 189,921
Total sales taxes receivable $ 600,468 $ 131,823 $ 732,291
(4) Intergovernmental Revenues/Receivables
Intergovernmental revenues for the year ended December 31,2022 consisted of the following:
Transportation Debt Capital Nonmajor
General Sales Tax Service Projects Funds Total
Grants - Federal, State and Local $ 138,043 $ - $ - $ 1,398,582 $ 326,130 $1,862,755
State:
Motor vehicle taxes and fees 86,373 186,238 - - - 272,611
Local:
Special road district - 175,903 - - - 175,903
County transportation - 223,157 - - - 223,157
Economic activity taxes - - - - 269,008 269,008
9 Hwy CID - - 215,816 - - 215,816
Total intergovernmental revenues $ 224,416 $ 585,298 $ 215,816 $ 1,398,582 $ 595,138 $3,019,250
Amounts due from other governments at December 31, 2022, were as follows:
Transportation Capital
General Sales Tax Projects Total
Grants - Federal, State and Local $ 105,293 $ - $ 1,600,967 $ 1,706,260
Motor vehicle taxes and fees 9,592 20,583 - 30,175
Total due from other governments $ 114,885 $ 20,583 $ 1,600,967 $ 1,736,435
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
32
(5) Interfund Activity
Transfers between funds for the year ended December 31, 2022 were as follows:
Nonmajor
Transportation Debt Governmental
General Sales Tax Service Funds Total
Transfers In:
Governmental activities:
General -$ 225,000$ -$ 93,693$ 318,693$
Transportation Sales Tax - - - 9,787 9,787
Debt Service 292,863 222,762 - - 515,625
Captial Projects - - - 325,000 325,000
Nonmajor Governmental Funds - - 1,257 163,173 164,430
Total 292,863$ 447,762$ 1,257$ 591,653$ 1,333,535$
Transfers Out:
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to
the fund that statute or budget requires to expend them, and (2) to use unrestricted revenues collected in
a fund used to finance various programs and debt service payments accounted for in other funds in
accordance with budgetary authorizations. Any transfers within the governmental funds or within the
proprietary funds have been eliminated in the government-wide statement of activities.
Interfund receivable and payable balances as of December 31, 2022 were as follows:
Due to:
General Fund
Due from:
Debt Service Fund 69,029$
Capital Projects Fund 910,159
979,188$
Amounts due to the General Fund represent advances for short-term cash flow needs.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
33
(6) Leases Receivable
During the year ended December 31, 2022, the City implemented Government Accounting Standards Board
No. 87, Leases (GASB 87). Under GASB 87, a lessor is required to recognize a lease receivable and a
deferred inflow of resources at the commencement of the lease term. The lease receivable is measured at
the present value of the lease payments expected to be received during the lease term. The deferred inflows
of resources are measured at the value of the lease receivable plus any payments received at or before
the commencement of the lease term that related to future periods.
On November 2017, the City entered into a 230 month lease for the right to place communication equipment
on a tower. The lessee is required to make monthly payments of totaling approximately $30,000 annually
with an annual increase of 3.5 percent scheduled each November 1. The lease contains an option to extend
the original lease for five (5) additional years through November 1, 2037. The lease receivable is measured
as the present value of the future rent payments expected to be received during the lease term at a discount
rate of 4.25%, which is the increment borrowing rate at the inception of the lease. As of December 31, 2022,
the value of the lease receivable is $331,000. As of December 31, 2022, the value of the deferred inflow of
resources was $324,798, and the City recognized lease revenue of $21,774 during the fiscal year.
A summary of the lease receivable activity for the year ended December 31, 2022 is as follows:
Lease Description
Balance,
beginning of
year Additions Retirements
Balance, end
of year
Land leases 346,572$ -$ 15,572$ 331,000$
The future minimum lease revenue due under the lease arrangement for the years ending December 31
are as follows:
Lease Receivable
Principal Interest Total
2023 16,247$ 13,753$ 30,000$
2024 16,951 13,049 30,000
2025 17,685 12,315 30,000
2026 18,452 11,548 30,000
2027 19,251 10,749 30,000
2028-2032 109,518 40,482 150,000
2033-2037 132,896 14,602 147,498
331,000$ 116,498$ 447,498$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
34
(7) Capital Assets
A summary of the changes in capital assets for the year ended December 31, 2022 is as follows:
December 31,December 31,
2021 Additions Deletions 2022
Governmental activities:
Capital assets, not being depreciated
Land 2,719,880$ -$ -$ 2,719,880$
Construction in progress - 24,759 - 24,759
Total capital assets, not being depreciated 2,719,880 24,759 - 2,744,639
Capital assets, being depreciated
Buildings and improvements 4,972,807 88,133 - 5,060,940
Equipment and vehicles 2,654,252 33,867 - 2,688,119
Infrastructure 10,982,890 1,116,857 - 12,099,747
Total capital assets being depreciated 18,609,949 1,238,857 - 19,848,806
Less accumulated depreciation for:
Buildings and improvements 1,926,566 143,605 - 2,070,171
Equipment and vehicles 2,272,157 117,225 - 2,389,382
Infrastructure 2,557,708 306,493 - 2,864,201
Total accumulated depreciation 6,756,431 567,323 - 7,323,754
Total capital assets being depreciated, net 11,853,518 12,525,052
Governmental activities capital assets, net 14,573,398$ 15,269,691$
December 31,December 31,
2021 Additions Deletions 2022
Business-type activities:
Capital assets, not being depreciated
Land 59,975$ 21,808$ -$ 81,783$
Total capital assets, not being depreciated 59,975 21,808 - 81,783
Capital assets, being depreciated
Buildings and improvements 5,503,734 165,982 - 5,669,716
Equipment and vehicles 320,659 22,861 - 343,520
Infrastructure 3,709,528 - - 3,709,528
Total capital assets being depreciated 9,533,921 188,843 - 9,722,764
Less accumulated depreciation for:
Buildings and improvements 4,339,999 186,270 - 4,526,269
Equipment and vehicles 315,733 3,857 - 319,590
Infrastructure 1,326,768 70,917 - 1,397,685
Total accumulated depreciation 5,982,500 261,044 - 6,243,544
Total capital assets being depreciated, net 3,551,421 3,479,220
Business-type activities capital assets, net 3,611,396$ 3,561,003$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
35
Depreciation expense was charged to functions and programs of the primary government as follows:
Governmental activities:
General government 119,082$
Public safety 31,141
Public works 360,069
Parks and recreation 56,430
Community development 601
Total depreciation expense for
governmental activities 567,323$
Business-type activities:
Sewer 261,044$
Total depreciation expense for
business-type activities 261,044$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
36
(8) Long Term Debt
A summary of the changes in long term debt for the year ended December 31, 2022 is as follows:
Beginning Adjustments/ Adjustments/ End of Due Within
Governmental Activities:of Year Additions Retirements Year One Year
Limited general obligation bonds:
Series 2020A - Brush Creek 3,995,000$ -$ 285,000$ 3,710,000$ 290,000$
Series 2020B - Brink Meyer 2,730,000 - 195,000 2,535,000 195,000
6,725,000 - 480,000 6,245,000 485,000
Certificates of participation - 2015 1,646,712 - 395,103 1,251,609 420,474
Certificates of participation - 2021A 2,985,000 - 375,000 2,610,000 160,000
Premium on issuance 104,414 - 6,736 97,678 -
* Compensated absences 81,840 13,409 - 95,249 95,249
Total Governmental Activities 11,542,966 13,409 1,256,839 10,299,536 1,160,723
Business-type Activities:
Revenue bonds 535,000 - 165,000 370,000 170,000
Premium on issuance 15,837 - 7,919 7,918 -
Total Business-type Activities 550,837 - 172,919 377,918 170,000
Total Primary Government 12,093,803$ 13,409$ 1,429,758$ 10,677,454$ 1,330,723$
* Primarily liquidated by the General fund in prior years.
A. Limited General Obligation Bonds
The City has issued special limited general obligation bonds to provide funds for the acquisition and
construction of certain neighborhood improvement projects. Financing is provided by special assessments
levied within the respective Districts. Special general obligation bonds are direct obligations and pledge the
full faith and credit of the City. The City’s limited general obligation bonds as of December 31, 2022 are as
follows:
Series 2020A - Taxable Neighborhood Improvement District - Limited
General Obligation Refunding Bonds (Brush Creek Drainage Area
Neighborhood Improvement Project); due in annual installments through
March 1, 2034; interest at 0.7% to 2.0% 3,710,000$
Series 2020B - Taxable Neighborhood Improvement District - Limited
General Obligation Refunding Bonds (Brink Meyer Road Neighborhood
Improvement Project); due in annual installments through March 1,
2034; interest at 0.7% to 2.0% 2,535,000
Total limited general obligation bonds 6,245,000$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
37
Crossover Refunding
In June 2020, the City issued $3,995,000 Series 2020A, Taxable Neighborhood Improvement District
Limited General Obligation Refunding Bonds (Brush Creek Drainage Area Neighborhood Improvement
Project) Bonds (2020A bonds). The 2020A Bonds have been structured as a crossover advance refunding.
Net proceeds of the bonds along with available Series 2014A bond trust funds totaling $4,300,413 were
deposited in trust with an escrow agent to 1) pay the interest on the Series 2020A Bonds to and including
March 1, 2021, call date of the Series 2014A Bonds and 2) redeem the Series 2014A refunded maturities
on March 1, 2021, the call date, at a price of par plus accrued interest. The City issued the 2020A bonds to
reduce its net debt service payments by approximately $685,259 which resulted in a net economic gain of
$611,747.
In June 2020, the City issued $2,730,000 Series 2020B, Taxable Neighborhood Improvement District
Limited General Obligation Refunding Bonds (Brink Meyer Road Neighborhood Improvement Project)
Bonds (2020B bonds). The 2020B Bonds have been structured as a crossover advance refunding. Net
proceeds of the bonds along with available Series 2014B bond trust funds totaling $2,949,228 were
deposited in trust with an escrow agent to 1) pay the interest on the Series 2020B Bonds to and including
March 1, 2021, call date of the Series 2014B Bonds and 2) redeem the Series 2014B refunded maturities
on March 1, 202, the call date, at a price of par plus accrued interest. The City issued the 2020B bonds to
reduce its net debt service payments by approximately $681,070 which resulted in a net economic gain of
$605,627.
Brush Creek and Brink Meyer Special Assessments
In 2015, the City began the required special assessment levy on the property owners within the Brush
Creek Drainage Area Neighborhood Improvement (Brush Creek NID) and the Brink Meyer Road
Neighborhood Improvement District (Brink Meyer NID).
The City has taken legal actions against certain properties located within the Brush Creek and Brink Meyer
NIDs related to delinquent special assessments on those properties. These properties are no longer subject
to Brush Creek NID and/or the Brink Meyer Road NID special assessments.
The Brush Creek and Brink Meyer NID’s originally scheduled annual special assessments necessary to
meet the Series 2020A and 2020B (as noted above, the Series 2020A&B were issued to refund the
2014A&B bonds) debt service requirements was approximately $670,000. Currently, the anticipated annual
collections of special assessments are scheduled to be approximately $255,000. During the year ended
December 31, 2022, the City transferred $292,863 from the General Fund to the Debt Service Fund to
cover the shortfall of special assessments necessary to meet the 2020A and 2020B debt service
requirements.
Tract IX Purchase Agreement – Meadows at Creekside
On March 5, 2019, the City entered into a Real Estate Purchase Agreement (Agreement) to sell
approximately 70 acres of land held for development to a developer for a total purchase price of $4,800,000.
The agreement provides for the acquisition of the property in two phases. The initial portion (Phase I) of
the property to be acquired is approximately 35 acres. The second portion (Phase II) of the property to be
acquired is approximately 35 acres.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
38
The purchase price for Phase I is $2,400,000 and is payable with $400,000 due at the Phase I closing and
the execution of a Promissory Note of $2,000,000 delivered by the Meadows at Creekside Community
Improvement District (the CID) (Phase I closing was completed in 2019). The Promissory Note is payable
solely from the proceeds of special assessments levied by the CID and secured by a second deed of trust.
The purchase price for Phase II is $2,400,000 and is payable with $400,000 due at the Phase II closing
and the execution of a Promissory Note delivered by the CID ( Phase II closing occurred in 2020). The
Promissory Note is payable solely from the CID special assessments and secured by a second deed of
trust. The Promissory Note is payable solely from the proceeds of special assessments levied by the CID
and secured by a second deed of trust.
The CID special assessments commenced in 2021. Payments on the promissory notes are scheduled to
be $300,000 per year up to a total of the outstanding note balances. At December 31, 2022, the outstanding
balance of the related notes receivable totaled $3,525,000.
Tract I Purchase Option – Creekside Industrial
In November 2020, the Developer exercised the Tract I Purchase Option. Under the Tract I Purchase Option,
the Developer and City entered into a purchase and sale agreement (Tract I Purchase Agreement). The Tract
I Purchase Agreement set the purchase price at $1,600,000. Beginning January 1, 2022 and ending
December 31, 2025, the City will receive $100,000 per year from the Hotel Special Assessment. Beginning
January 1, 2026, the amount increases to $150,000 per year. In any year the contribution falls short, the
Developer will pay the difference. In any year, the contribution from the Hotel Special Assessment falls short,
or the Developer’s failure to pay the difference, the City shall receive $100,000 each year from available
sources in the Creekside Incentive Fund. All payments will be deducted from the $1,600,000 purchase and
sale agreement receivable. At December 31, 2022, the outstanding balance of the related notes receivable
totaled $1,500,000.
B. Certificates of Participation
During fiscal year 2015, the City issued $3,383,722 Refunding Certificates of Participation Series 2015 to
current refund the 2006 Certificates of Participation issued for the purpose of constructing City Hall, public
parking lot and certain other capital improvements within the City. A temporary tax levy was approved to
fund a portion of the debt service payments. Principal and interest payments are due semi-annually
beginning on September 1, 2016 through March 1, 2027 with principal payments ranging from $139,867 to
$444,872, with an interest rate of 2.24%. The outstanding balance at December 31, 2022, is $1,251,609.
During fiscal year 2021, the City issued $2,985,000 Certificates of Participation Series 2021A to provide
funding for the Route 9 Project and provide funding to pay the Lease Purchase Agreement discussed in
Note 7 C. below. Principal and interest payments are due semi-annually beginning on March 1, 2022
through March 1, 2037 with principal payments ranging from $160,000 to $375,000, with an interest rate of
2.0%. The outstanding balance at December 31, 2022, is $2,610,000.
C. Revenue Bonds
The City issued Sewerage System Revenue Bonds (State Revolving Loan Fund (SRF)) Series 2004A in
the original amount of $2,750,000. The Series 2004A Sewage System Revenue Bonds are special, limited
obligations of the City payable solely from, and secured by a pledge of, the net revenues of the Sewer
Fund. The bonds are due in annual installments of $30,000 to $170,000 through January 1, 2025 with
interest ranging from 3.0% to 5.25%. The outstanding balance at December 31, 2022, is $370,000.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
39
D. Future Debt Service Requirements
E. Conduit Debt
The City is authorized to issue industrial development revenue bonds to finance the costs of office and other
industrial and commercial developments. Bonds are secured by the property financed and are payable solely
from payments received on the underlying lease agreements. The bonds and the interest are limited
obligations of the City payable solely out of the payments, revenues, and receipts derived by the City from the
lease agreements. At December 31, 2022, there are two outstanding industrial revenue bond issuances with
a total principal amount of approximately $197 million.
(9) Cooperative Agreement – Sewer Services
The City has entered into agreements with the City of Kansas City, Missouri, and the Platte County Regional
Sewer District to provide certain sewer services for the City. For the year ended December 31, 2022,
expenses incurred under these agreements were $36,094 (Kansas City, Missouri) and $17,759 (Platte
County Regional Sewer District).
Year Ending
December 31 Principal Interest Principal Interest Principal Interest
2023 290,000$ 53,904$ 195,000$ 36,903$ 420,474$ 23,327$
2024 290,000 51,439 195,000 35,245 444,872 13,635
2025 295,000 48,659 200,000 33,368 123,277 7,272
2026 295,000 45,488 205,000 31,189 123,119 4,512
2027 300,000 41,841 205,000 28,678 139,867 1,567
2028-2032 1,575,000 137,122 1,075,000 94,123 - -
2033-2036 665,000 13,350 460,000 9,200 - -
3,710,000$ 391,803$ 2,535,000$ 268,706$ 1,251,609$ 50,313$
Year Ending
December 31 Principal Interest Principal Interest Principal Interest
2023 160,000$ 50,600$ 1,065,474$ 164,734$ 170,000$ 21,625$
2024 160,000 47,400 1,089,872 147,719 170,000 13,250
2025 165,000 44,150 783,277 133,449 30,000 5,175
2026 165,000 40,850 788,119 122,039 - -
2027 165,000 37,550 809,867 109,636 - -
2028-2032 860,000 137,200 3,510,000 368,445 - -
2033-2037 935,000 51,300 2,060,000 73,850 - -
Totals 2,610,000$ 409,050$ 10,106,609$ 1,119,872$ 370,000$ 40,050$
Sewage System Revenue
Bonds Series 2004A
Certificates of Participation
Series 2021A Governmental Activities Total
Governmental Activities
Certificates of Participation
Series 2015
Limited General Obligation
Refunding Bonds - Series
2020A (Brush Creek)
Limited General Obligation
Refunding Bonds - Series
2020B (Brink Meyer)
Governmental Activities Business-type Activities
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
40
(10) Employees Retirement System
A. Plan Description
The City’s defined benefit pension plan provides certain retirement, disability, and death benefits to plan
members and beneficiaries. The City participates in the Missouri Local Government Employees Retirement
System (LAGERS). LAGERS is an agent multiple-employer, statewide public employee pension plan
established in 1967 and administered in accordance with RSMo. 70.600-70.755. As such, it is LAGERS
responsibility to administer the law in accordance with the expressed intent of the General Assembly. The
plan is qualified under the Internal Revenue Code Section 401(a) and is tax exempt. The responsibility for
the operations and administration of LAGERS is vested in the LAGERS Board of Trustees consisting of
seven persons. LAGERS’ issues a publicly available financial report that includes financial statements and
required supplementary information. This report may be obtained by accessing the LAGERS website at
www.molagers.org.
B. Benefits Provided
LAGERS provides retirement, death, and disability benefits. Benefit provisions are adopted by the
governing body of the employer, within the options available in the state statutes governing LAGERS. All
benefits vest after 5 years of credited service. Employees who retire on or after age 60 (55 for police) with
5 or more years of service are entitled to an allowance for life based upon the benefit program information
provided below. Employees may retire with an early retirement benefit with a minimum of 5 years of credited
service and after attaining age 55 (50 for police) and receive a reduced allowance.
2022 Valuation
Benefit Multiplier: 1.75%
Final Average Salary: 5 Years
Member Contributions: 4%
Benefit terms provide for annual post-retirement adjustments to each member’s retirement allowance
subsequent to the member’s retirement date. The annual adjustment is based on the increase in the
Consumer Price Index and is limited to 4% per year.
C. Employees Covered by Benefit Terms
The following employees were covered by the benefit terms:
General Police Total
Inactive employees or beneficiaries currently
receiving benefits 3 3 6
Inactive employees entitled to but not yet
receiving benefits 12 12 24
Active employees 22 14 36
37 29 66
D. Contributions
The employer is required to contribute amounts at least equal to the actuarially determined rate, as
established by LAGERS. The actuarially determined rate is the estimated amount necessary to finance the
cost of benefits earned by employees during the year, with an additional amount to finance an unfunded
accrued liability. Full-time employees of the employer contribute 4% to the pension plan. Employer
contribution rates are 11.0% (General) and 13.3% (Police) of annual covered payroll.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
41
E. Net Pension Liability
The City’s net pension liability was measured as of June 30, 2022, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of February 28, 2022.
F. Actuarial Assumptions
The total pension liability in the February 28, 2022 actuarial valuation was determined using the following
actuarial assumptions, applied to all periods included in the measurement:
Inflation 2.75% wage inflation; 2.25% price inflation
Salary Increase 2.75% to 6.75% including wage inflation (General)
2.75% to 6.55% including wage inflation (Police)
Investment rate of return 7.00%, net of investment expenses
The healthy retiree mortality tables, for post-retirement mortality, were 115% of the PubG-2010 mortality
tables for males and females. The disabled retiree mortality tables, for post-retirement mortality, were 115%
of the PubG-2010 disabled mortality table for males and females. The pre-retirement mortality tables used
were 75% of the PubG-2010 employees mortality table for males and females.
Both the post-retirement and pre-retirement tables were adjusted for mortality improvement back to the
observation period base year of 2006. The base year for males was then established to be 2017. Mortality
rates for a particular calendar year are determined by applying the MP-2020 mortality improvement scale
to the above described tables.
The long-term expected rate of return on pension plan investments was determined using a model method
in which the best-estimate ranges of expected future real rates of return (expected returns, net of investment
expenses and inflation) are developed for each major asset class. These ranges are combined to produce
the long-term expected rate of return by weighting the expected future real rates of return by the target
asset allocation percentage and by adding expected inflation. The target allocation and a weighted average
of the geometric real rates of return for each major asset class rollup are summarized in the following table:
Asset Class
Target
Allocation
Long-Term Expected
Real Rate of Return
Alpha 15.00% 3.67%
Equity 35.00% 4.78%
Fixed income 31.00% 1.41%
Real Assets 36.00% 3.29%
Strategic Assets 8.00% 5.25%
Cash/Leverage -25.00% -0.29%
G. Discount Rate
The discount rate used to measure the total pension liability is 7.00%. The projection of cash flows used to
determine the discount rate assumes that employer and employee contributions will be made at the rates
agreed upon for employees and the actuarially determined rates for employers. Based on these
assumptions, the pension plan’s fiduciary net position was projected to be available to pay all projected
future benefit payments of current active and inactive employees. Therefore, the long-term expected rate
of return on pension plan investments was applied to all periods of projected benefit payment to determine
the total pension liability.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
42
H. Changes in the Net Pension Liability
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability
(a) (b) (a) - (b)
3,759,019$ 3,478,521$ 280,498$
233,098 - 233,098
267,813 - 267,813
Change in benefit terms - - -
115,342 - 115,342
- 261,709 (261,709)
- 84,888 (84,888)
- 3,647 (3,647)
(97,043) (97,043) -
- (5,858) 5,858
- 118,221 (118,221)
Net changes 519,210 365,564 153,646
4,278,229$ 3,844,085$ 434,144$
Difference between expected and actual
Increase (Decrease)
Balances at beginning of year
Changes for the year:
Service Cost
Interest
Balances at end of year
Contributions - employer
Contributions - employee
Net investment income
Benefit payments, including refunds
Administrative expense
Other changes (net transfer)
I. Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the Net Pension Liability of the employer, calculated using the discount rate of
7.00%, as well as what the employer’s Net Pension Liability would be using a discount rate that is one
percentage point lower (6.00%) or one percentage point higher (8.00%) than the current rate.
1% Decrease
Current Single
Discount Rate
Assumption 1% Increase
6.00% 7.00% 8.00%
Total Pension Liability 4,973,164$ 4,278,229$ 3,712,744$
Plan Fiduciary Net Position (3,844,085) (3,844,085) (3,844,085)
Net Pension Liability 1,129,079$ 434,144$ (131,341)$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
43
J. Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
For the year ended December 31, 2022, the City recognized LAGERS pension expense of $31,453;
$(10,758) (General) and $42,211 (Police)). The City reported deferred outflows related to LAGERS pension
from the following sources:
General Police Total
Deferred Outflows of Resources:
Assumption changes 5,518$ 3,257$ 8,775$
Difference in experience 122,379 67,983 190,362
Contributions subsequent to the
measurement date* 82,886 52,545 135,431
Total 210,783$ 123,785$ 334,568$
Deferred Inflows of Resources:
Assumption changes (15,560)$ (2,511)$ (18,071)$
(54,720) (19,902) (74,622)
Difference in experience (100,399) (67,438) (167,837)
Total (170,679)$ (89,851)$ (260,530)$
.
Difference between projected and actual
earnings on pension plan investments
*The amount reported as deferred outflows of resources resulting from contributions subsequent
to the measurement date will be recognized as a reduction in the Net Pension Liability for the year ending
December 31, 2022.
Net amounts reported as deferred outflows and deferred inflows of resources related to LAGERS pension
will be recognized in pension expense as follows:
Year ending December 31: General Police Total
2023 (16,396)$ (913)$ (17,309)$
2024 (13,644) (10,181) (23,825)
2025 (36,724) (26,175) (62,899)
2026 22,738 17,193 39,931
2027 773 1,465 2,238
Thereafter 471 - 471
Total (42,782)$ (18,611)$ (61,393)$
K. Payable to the Pension Plan
At December 31, 2022, there were no outstanding contributions payable to the LAGERS pension plan.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
44
(11) Commitments and Contingencies
A. Insurance
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets;
errors and omissions; injuries to employees; and natural disasters.
The City is a member of the Midwest Public Risk (MPR), formerly Mid-America Regional Council Insurance
Trust, a not-for-profit corporation consisting of local governments and political subdivisions. MPR was
formed as a public entity risk retention pool to cover health and dental, workers’ compensation, and property
and casualty claims for its members. MPR has been established as assessable pools and accounting
records are maintained for each line of coverage on a policy-year basis. The City pays annual premiums to
MPR for all coverage. The agreement with MPR provides that MPR will be self-sustaining through member
premiums. MPR has the authority to assess members for any deficiencies of revenues under expenses for
any single plan year. Likewise, MPR has the authority to declare refunds to members for the excess of
revenues over expenses relating to any single plan year. The City continues to carry commercial insurance
for employee life insurance and short-term disability. The amount of settlements has not exceeded the
City’s insurance coverage in any of the past three fiscal years.
B. Investments-Trust Fund
The City was the recipient of funds from a resident’s estate during the calendar year 2002. The funds were
previously held by a trustee for the benefit of the City. In 2011, the City took over management of the fund
and by Resolution No. 12-01-13, the Board of Aldermen enacted a policy restricting the use of the fund to
follow the intentions of the original donor of the fund. The nature of the fund is that the principal of the
contributions is to remain intact. One-half of the interest earnings are to be added to the principal and the
remaining one-half of annual earnings may be used to fund City capital projects. At December 31, 2022,
the fund had $22,204 net appreciation on assets available for expenditure which is reported as restricted
fund balance and $580,224 in principal which is reported as nonspendable fund balance. Both of these
amounts are reported as restricted net position on the government-wide statement of net position. The
State of Missouri requires that recipients of endowment gifts maintain the original principal intact at the
original donation value.
C. Federal and State Grants
The City has received financial assistance from various federal, state, and local agencies in the form of
grants and entitlements. These programs are subject to audit by agents of the granting authority.
Management does not believe that liabilities for reimbursements, if any, will have a materially adverse effect
upon the financial condition of the City.
D. Litigation
The City is involved in legal proceedings arising from the ordinary course of City activities. While these
proceedings may have future financial effect, management believes that their ultimate outcome will not be
material to the basic financial statements.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
45
(12) Development Agreements
Tax Increment Financing and Economic Development Contract
On April 23, 2019, the City entered into a Tax Increment Financing and Economic Development Contract (the
Agreement) with various Creekside Development entities (the Developer). The Agreement sets forth the
implementation of the Creekside Plan, including the responsibilities of the City and the Developer.
The Creekside Plan is a multi-phased project along three quadrants of the intersection of Interstate 435 and
Missouri Highway 45 in the City, and consists of the following planned developments:
- The Meadows At Creekside – a planned residential development consisting of 101 single-family homes,
96 townhome units and 216 apartment units on the southeast quadrant of the interchange (consisting of
approximately 43.24 acres).
- Old Town At Creekside – a planned commercial development consisting of 13 lots for six restaurants,
two mixed-use retail buildings with 100 apartment units, one café, one grocery/market, one hotel and
one bank on the southeast quadrant of the interchange (consisting of approximately 38.12 acres).
- The Woods At Creekside & Creekside Village – a planned residential development consisting of
115 single-family homes (consisting of approximately 32.14 acres) and 172 townhome units in
43 buildings (consisting of approximately 23.36 acres) on the northwest quadrant of the interchange.
- Creekside Commons – a planned commercial development consisting of 10 lots for three hotels, two
restaurants, a quick-serve restaurant, a gas station, a pharmacy/medical office, one mixed-use retail
building with 50 apartment units, and six tournament quality youth baseball and softball fields on the
northwest quadrant of the interchange. The total ballfield space of Creekside Commons consists of
approximately 681,240 square feet, with total building space of the development consisting of
approximately square feet, and total commercial space of the development (minus hotels) consisting of
66,100 square feet.
- Creekside Industrial – a planned industrial development consisting of 29 pad sites (a total of
1,024,106 square feet) for office/service and industrial uses on the southwest quadrant of the
interchange.
The estimated cost of the entire Creekside project is approximately $335 million with financial assistance from
all sources of approximately $52 million, plus interest and financing costs.
Tract IX Purchase Agreement – Meadows at Creekside
As discussed in Note 8A, the City entered into a real estate purchase agreement to sell approximately 70
acres for the Meadows at Creekside development project.
The Meadows at Creekside Community Improvement District (Meadows CID) has been established to levy
certain special assessments on each apartment unit and single family dwelling. The annual assessment will
be $1,737 per apartment unit and $400 per single-family home. The City is scheduled to receive $300,000
annually as payments on the promissory notes receivable over 16 years up to a total of $4,000,000. At
December 31, 2022, the outstanding balance of the related notes receivable totaled $3,525,000.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
46
Tract I Purchase Option Agreement – Creekside Industrial
As discussed in Note 8A, the Developer exercised the Tract I Purchase Option. Under the Tract I Purchase
Option, the Developer and City entered into a purchase and sale agreement (Tract I Purchase Agreement).
The Tract I Purchase Agreement set the purchase price at $1,600,000. Beginning January 1, 2022 and ending
December 31, 2025, the City will receive $100,000 per year from the Hotel Special Assessment. Beginning
January 1, 2026, the amount increases to $150,000 per year. In any year, the contribution from the Hotel
Special Assessment falls short, or the Developer’s failure to pay the difference, the City shall receive $100,000
each year from available sources in the Creekside Incentive Fund. All payments will be deducted from the
$1,600,000 note receivable. At December 31, 2022, the outstanding balance of the related note receivable
totaled $1,500,000.
Notes receivable activity for the year ended December 31, 2022, was as follows:
Beginning Beginning
Notes Receivable Balance Additions Reductions Balance
Tract IX Meadows at Creekside 4,000,000$ -$ 475,000$ 3,525,000$
Tract I Creekside Industrial 1,600,000 - 100,000 1,500,000
5,600,000$ -$ 575,000$ 5,025,000$
The City established the Creekside Community Improvement District (CID). The Creekside Transportation
District (TDD) was established through a judicial process. The CID and TDD will impose a one percent
sales tax for a period of 40 years to fund eligible CID and TDD improvements.
The City has also approved a Chapter 100 Industrial Development Plan for the portion of the site where the
apartments are built. The Chapter 100 plan provides property tax abatement to the owners of the apartments
for a sixteen year period. The City has issued its Taxable Industrial Development Revenue Bonds (Creekside
Development Apartments Project), Series 2019, in an aggregate principal amount not to exceed $26,000,000
and its Taxable Industrial Development Revenue Bonds (Creekside Development Apartments Project), Series
2019, in an aggregate maximum principal amount of $171,000,000, for the purpose of providing funds to pay
the costs of the Project.
The Creekside Plan is on a pay-as-you-go basis payable from the incremental increase in property and sales
taxes generated within TIF areas of the Creekside Plan. Funding is also available from CID and TDD one
percent sales taxes and certain Meadows CID special assessments As of December 31, 2022, certified tax
increment financing reimbursable project costs totaled $5,621,406. Current year reimbursements totaled
$155,862.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2022
47
Parkville Market Place Tax Increment Financing Redevelopment Plan
In 2008, the City established the Parkville Market Place Tax Increment Financing Redevelopment Plan
(Market Place Plan). The redeveloper designated as the redeveloper of Redevelopment Project Area 1 has
not redeveloped Redevelopment Project Area 1. In 2018, the City amended the Market Place Plan to
expand the boundaries of the original redevelopment area and created Redevelopment Project Area 2
(Project 2). Project 2 includes the construction of approximately 33,400 square feet of retail, restaurant,
and/or other commercial facilities, and public and private infrastructure improvements The Market Place
Plan provides up to a maximum reimbursable project costs of $5,916,893 for Project 2. The Market Place
Plan is on a pay-as-you-go basis payable from the incremental increase in property and sales taxes.
Funding is also available from the tax increment economic activity taxes portion of the Market Place
Community Improvement District’s one percent CID Sales tax and the tax increment economic activity taxes
portion Market Place #2 Community Improvement District’s one percent CID Sales tax. Current year
reimbursements totaled $594,000.
(13) Subsequent Events
The City evaluated subsequent events through December 27, 2023, the date the financial statements were
available to be issued. No events were identified that required adjustment to or disclosure in the financial
statements.
Schedule 1
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 3,414,363$ 3,414,363$ 3,720,882$ 306,519$
Intergovernmental 99,904 99,904 224,416 124,512
Charges for services - - 37,417 37,417
Fines and forfeitures 75,000 75,000 47,578 (27,422)
Licenses and permits 567,733 567,733 546,783 (20,950)
Charges for sewer 360,500 360,500 350,000 (10,500)
Interest 5,806 5,806 22,751 16,945
Other 171,769 171,769 107,423 (64,346)
Total Revenues 4,695,075 4,695,075 5,057,250 362,175
Expenditures:
Current:
General government 1,458,357 1,458,357 1,680,776 (222,419)
Public safety 2,098,869 2,098,869 1,738,165 360,704
Public works 590,417 590,417 556,423 33,994
Parks and recreation 886,930 886,930 893,570 (6,640)
Community development 377,386 377,386 389,625 (12,239)
Total Expenditures 5,411,959 5,411,959 5,258,559 153,400
Excess of Revenues Over
(Under) Expenditures (716,884) (716,884) (201,309) 515,575
Other Financing Sources (Uses):
Transfers in 717,436 717,436 318,693 (398,743)
Transfers out (291,162) (291,162) (292,863) (1,701)
Sale of land and assets 400,000 400,000 528,535 128,535
Insurance proceeds - - 268,704 268,704
Total Other Financing Sources (Uses) 826,274 826,274 823,069 (3,205)
Change in fund balance 109,390$ 109,390$ 621,760 512,370$
Fund Balances, Beginning of Year 742,303
Fund Balances, End of Year 1,364,063$
Note: GAAP is the budgetary basis used to prepare this schedule
2022
CITY OF PARKVILLE, MISSOURI
Required Supplementary Information
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
General Fund
For the Year Ended December 31, 2022
48
Schedule 2
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 518,437$ 518,437$ 629,500$ 111,063$
Intergovernmental 574,179 574,179 585,298 11,119
Other 27,975 27,975 9,779 (18,196)
Total Revenues 1,120,591 1,120,591 1,224,577 103,986
Expenditures:
Current:
Capital outlay 868,500 868,500 710,678 157,822
Total Expenditures 868,500 868,500 710,678 157,822
Excess of Revenues Over
(Under) Expenditures 252,091 252,091 513,899 261,808
Other Financing Sources (Uses):
Transfers in 9,836 9,836 9,787 (49)
Transfers out (447,762) (447,762) (447,762) -
Total Other Financing Sources (Uses) (437,926) (437,926) (437,975) (49)
Change in fund balance (185,835)$ (185,835)$ 75,924 261,759$
Fund Balances, Beginning of Year 291,845
Fund Balances, End of Year 367,769$
Note: GAAP is the budgetary basis used to prepare this schedule
2022
CITY OF PARKVILLE, MISSOURI
Required Supplementary Information
Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
Transportation Sales Tax Fund
For the Year Ended December 31, 2022
49
CITY OF PARKVILLE, MISSOURI
Notes to Required Supplementary Information
December 31, 2022
50
(1) Budgetary Data
The Board of Alderman adopted annual operating budgets for all funds except for the Court Recoupment
Fees, Police Training Fees LET, Police Shop, TIF Development, Market Place Project 2, Market Place
CID #1, Market Place CID #2, and the Creekside Development funds. The City’s budget is adopted using
Generally Accepted Accounting Principles on the Modified Accrual Basis of Accounting. Revisions to the
budget can be made only by the Board of Alderman. Legally, expenditures may not exceed the total
amount of expenditures budgeted, as revised, in each fund. All annual appropriations lapse at year end if
not encumbered.
The City follows these procedures in establishing the budgetary date reflected in the financial statements,
beginning in the prior year.
1. In early August, budget worksheets are issued to each department.
2. In early September, budget requests are submitted by departments to the City Administrator.
3. Budget meetings are held between the City Administrator and each department beginning in late
September to early October.
4. In late October, a proposed budget is presented to the Board of Aldermen.
5. In early December, the Board of Alderman adopt the budget.
Schedule 3
2022 2021 2020 2019 2018 2017 2016 2015
Total Pension Liability
Service costs 233,098$ 239,471$ 201,429$ 172,547$ 148,593$ 119,807$ 116,946$ 104,714$
Interest on total pension liability 267,813 263,386 193,934 161,830 142,885 107,562 93,722 69,352
Changes in benefit terms - - 443,125 - - 252,150 - 226,297
Difference between expected and
actual experience of the total pension liability 115,342 (220,194) 126,146 117,686 (16,202) 19,236 (66,469) (47,700)
Changes of assumptions - (24,731) - - - (12,160) 79,853 -
Benefit payments and refunds (97,043) (27,877) (22,947) (23,897) (27,488) (18,639) (31,360) (14,002)
Net change in total pension liability 519,210 230,055 941,687 428,166 247,788 467,956 192,692 338,661
Total pension liability - beginning of year 3,759,019 3,528,964 2,587,277 2,159,111 1,911,323 1,443,367 1,250,675 912,014
Total pension liability - end of year (a)4,278,229$ 3,759,019$ 3,528,964$ 2,587,277$ 2,159,111$ 1,911,323$ 1,443,367$ 1,250,675$
Plan Fiduciary Net Position
Contributions - employer 261,709$ 263,683$ 206,382$ 177,852$ 155,363$ 112,455$ 93,771$ 73,690$
Contributions - employee 84,888 84,397 82,259 77,157 68,390 62,865 61,441 60,880
Net investment income 3,647 741,438 30,625 120,889 180,098 141,948 63 17,409
Benefit payments and refunds (97,043) (27,877) (22,947) (23,897) (27,488) (18,639) (31,360) (14,002)
Administrative expenses (5,858) (5,040) (6,190) (5,440) (3,246) (3,626) (3,451) (3,356)
Other (net transfer) 118,221 3,250 2,550 (1,855) (6,335) 1,806 (3,952) 38,126
Net change in plan fiduciary net position 365,564 1,059,851 292,679 344,706 366,782 296,809 116,512 172,747
Plan fiduciary net position - beginning of year 3,478,521 2,418,670 2,125,991 1,781,285 1,414,503 1,117,694 1,001,182 828,435
Plan fiduciary net position - end of year (b) $ 3,844,085 3,478,521$ 2,418,670$ 2,125,991$ 1,781,285$ 1,414,503$ 1,117,694$ 1,001,182$
Net pension liability (a) - (b) $ 434,144 $ 280,498 $ 1,110,294 $ 461,286 $ 377,826 $ 496,820 $ 325,673 $ 249,493
Plan net position as a percentage of the
total pension liability 89.85% 92.54% 68.54% 82.17% 82.50% 74.01% 77.44% 80.05%
Covered employee payroll 2,044,016 2,033,168 2,136,492 1,935,516 1,567,178 1,457,585 1,415,099 1,414,512
Net pension liability/(asset) as a
percentage of covered payroll 21.24% 13.80% 51.97% 23.83% 24.11% 34.09% 23.01% 17.64%
GASB 68 requires presentation of ten years. As of December 31, 2022, only eight years of information is available.
CITY OF PARKVILLE, MISSOURI
Required Supplementary Information
Schedule of Changes in Net Pension Liability and Related Ratios
For the Year Ended December 31, 2022
Lagers
51
Schedule 4
Actuarially Covered Contribution
Fiscal Determined Contribution in Contribution Employee as
Year Contribution Relation Deficiency Payroll Percentage
2013 $ 61,194 $ 61,194 $ - 1,496,050 4.09%
2014 63,625 63,625 - 1,621,236 3.92%
2015 90,452 90,452 - 1,497,747 6.04%
2016 93,266 93,266 - 1,559,830 5.98%
2017 142,758 142,758 - 1,633,155 8.74%
2018 159,791 159,791 - 1,767,037 9.04%
2019 192,504 192,504 - 2,041,265 9.43%
2020 235,257 235,257 - 2,055,071 11.45%
2021 274,675 274,675 - 2,164,460 12.69%
2022 200,843 260,843 - 2,184,355 11.94%
Lagers
Valuation Date
Notes:
Actuarial cost method Entry Age Normal and Modified Terminal Funding
Amortization method
Remaining amortization period Multiple bases from 8 to 17 years
Asset valuation method 5-year smoothed market; 20% corridor
Inflation assumption 2.75% wage inflation; 2.25% price inflation
Salary increases 2.75% to 6.55% including wage inflation
Investment rate of return 7.00%, net of investment expenses
Retirement age
Mortality
Other information:
CITY OF PARKVILLE, MISSOURI
Required Supplementary Information
Schedule of Employer Contributions
For the Year Ended December 31, 2022
Mortality rates for a particular calendar year are determined by applying the MP-2020
mortality improvement scale to the above described tables.
None
Experienced-based table of rates that are specific to the type of eligibility condition
Methods and assumptions used to determine contributions rates:
February 28, 2022
The roll-forward of total pension liability from February 28, 2022 to June 30, 2022
reflects expected service cost and interest reduced by actual benefit payments and
administrative expenses.
The healthy retiree mortality tables, for post retirement mortality, used in evaluating
allowances to be paid were 115% of the PubG-2010 Retiree Mortality Table for males
and females. The disabled retiree mortality tables, for post-retirement mortality, used
in evaluating allowances to be paid were 115% of the PubNS-2010 Disabled Retiree
Mortality Table for males and females. The preretirement mortality tables used were
75% of the PubG-2010 Employee Mortality Table for males and females of General
groups and 75% of the PubS-2010 Employee Mortality Table for males and females of
Police, Fire and Public Safety groups.
Level percentage of payroll amortization method is used to amortize the UAAL over a
close period of years. If the UAAL (excluding the UAAL associated with benefit
changes) is negative, then this amount is amortized over the greater of (i) the
remaining initial amortization period or (ii) 15 years.
LAGERS (General and Police)
52
Schedule 5
General Reserve
Fund Fund Totals
Assets:
Cash and investments 263,129$ 1,332,108$ 1,595,237$
Receivables:
Taxes 409,384 - 409,384
Leases 331,000 - 331,000
Creekside receivables 5,075,000 - 5,075,000
Due from other governments 114,885 - 114,885
Prepaid, deposits and other assets 146,941 - 146,941
Total Assets 7,319,527$ 1,332,108$ 8,651,635$
Liabilities:
Accounts payable 299,408$ -$ 299,408$
Accrued payroll and benefits 61,797 - 61,797
Total Liabilities 361,205 - 361,205
Deferred inflows of resources:
Unavailable revenues - leases 324,798 - 324,798
Unavailable revenues - Creekside receivables 5,075,000 - 5,075,000
Unavailable revenues - grants - - -
Unavailable revenues - taxes 194,461 - 194,461
5,594,259 - 5,594,259
Fund balances:
Nonspendable:
Prepaid items 146,941 - 146,941
Committed:
Emergency reserve - 1,332,108 1,332,108
Unassigned 1,217,122 - 1,217,122
Total fund balances 1,364,063 1,332,108 2,696,171
Total liabilities, deferred inflows
of resources and fund balances 7,319,527$ 1,332,108$ 8,651,635$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - General Fund
December 31, 2022
53
Schedule 6
General Reserve
Fund Fund Totals
Revenues:
Taxes 3,720,882$ -$ 3,720,882$
Intergovernmental 224,416 - 224,416
Charges for services 37,417 - 37,417
Fines and forfeitures 47,578 - 47,578
Licenses and permits 546,783 - 546,783
Charges for sewer administration 350,000 - 350,000
Interest 22,751 - 22,751
Other 107,423 - 107,423
Total Revenues 5,057,250 - 5,057,250
Expenditures:
Current:
General government 1,680,776 - 1,680,776
Public safety 1,738,165 - 1,738,165
Public works 556,423 - 556,423
Parks and recreation 893,570 - 893,570
Community development 389,625 - 389,625
Total Expenditures 5,258,559 - 5,258,559
Excess of Revenues Over
(Under) Expenditures (201,309) - (201,309)
Other financing sources (uses):
Transfers in 318,693 - 318,693
Transfers out (292,863) - (292,863)
Sale of land and capital assets 528,535 - 528,535
Insurance proceeds 268,704 268,704
Total Other Financing Sources 823,069 - 823,069
Change in fund balance 621,760 - 621,760
Fund Balances, Beginning of Year 742,303 1,332,108 2,074,411
Fund Balances, End of Year 1,364,063$ 1,332,108$ 2,696,171$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
General Fund
For the Year Ended December 31, 2022
54
Schedule 7
River Certificates of Brush Brink Lease Purchase
Park Participation Creek Meyer Agreement Totals
Assets:
Restricted cash and investments -$ 199,283$ 102,638$ 5,681$ -$ 307,602$
Receivables:
Special assessments - - 2,139,705 - - 2,139,705
Total Assets -$ 199,283$ 2,242,343$ 5,681$ -$ 2,447,307$
Liabilities:
Due to other funds -$ -$ -$ -$ 69,029$ 69,029$
Total Liabilities - - - - 69,029 69,029
Deferred inflows of resources:
Unavailable revenues -
Special assessments - 70,592 2,219,618 - - 2,290,210
Fund balances:
Restricted:
Debt service - 128,691 22,725 5,681 (69,029) 88,068
Total fund balances (deficit)- 128,691 22,725 5,681 (69,029) 88,068
Total liabilities, deferred inflows
and fund balances (deficit)-$ 199,283$ 2,242,343$ 5,681$ -$ 2,447,307$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Debt Service Funds
December 31, 2022
55
Schedule 8
River Certificates of Brush Brink Lease Purchase
Park Participation Creek Meyer Agreement Totals
Revenues:
Taxes -$ 478,048$ -$ -$ -$ 478,048$
Intergovernmental - - - - 215,816 215,816
Special assessments - - 283,241 1,662 - 284,903
Interest 2 338 - - - 340
Total Revenues 2 478,386 283,241 1,662 215,816 979,107
Expenditures:
Debt service:
Principal - 395,103 285,000 195,000 375,000 1,250,103
Interest and fiscal charges - 32,461 56,361 38,665 65,328 192,815
- 427,564 341,361 233,665 440,328 1,442,918
Excess of Revenues Over
(Under) Expenditures 2 50,822 (58,120) (232,003) (224,512) (463,811)
Other financing sources (uses):
Transfers in - - 60,881 231,982 222,762 515,625
Total Other Financing Sources (1,257) - 60,881 231,982 222,762 514,368
Change in fund balance (1,255) 50,822 2,761 (21) (1,750) 50,557
Fund Balances (deficit),
Beginning of Year 1,255 77,869 19,964 5,702 (67,279) 37,511
Fund Balances (deficit),
End of Year -$ 128,691$ 22,725$ 5,681$ (69,029)$ 88,068$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
Debt Service Funds
For the Year Ended December 31, 2022
56
Schedule 9
Court Police
Park Sales Economic Nature Parks Veterans Recoupment Training Fees
Tax Development Sanctuary Donations Memorial ARPA Fees LET
Assets
Cash and investments 819,379$ 20,872$ 263,161$ 16,153$ 80,518$ 859,114$ 38,387$ 35,871$
Receivables:
Taxes 132,317 - - - - - - -
Special assessments - - - - - - - -
Other 402,743 - - - - - - -
Due from other governments - - - - - - - -
Due from other funds - - - - - - - -
Restricted cash and investments - - - - - - - -
Total Assets 1,354,439$ 20,872$ 263,161$ 16,153$ 80,518$ 859,114$ 38,387$ 35,871$
Accounts payable 64,612$ -$ 148$ -$ -$ -$ -$ -$
Unearned revenue - - - - - 859,114 - -
Total Liabilities 64,612 - 148 - - 859,114 - -
Deferred inflows of resources:
Unavailable revenues 402,743 - - - - - - -
Fund balances
Nonspendable:
Fewson trust - - - - - - - -
Restricted:
Capital projects - - - - - - - -
Public safety - - - - - - 38,387 35,871
Parks and recreation 887,084 - 263,013 16,153 80,518 - - -
Community development - 20,872 - - - - - -
Total fund balances 887,084 20,872 263,013 16,153 80,518 - 38,387 35,871
Total liabilities and fund balances 1,354,439$ 20,872$ 263,161$ 16,153$ 80,518$ 859,114$ 38,387$ 35,871$
(Continued on Next Page)
Liabilities and Fund Balances
Liabilities:
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Non-major Governmental Funds
December 31, 2022
57
Assets
Cash and investments
Receivables:
Taxes
Special assessments
Other
Due from other governments
Due from other funds
Restricted cash and investments
Total Assets
Accounts payable
Unearned revenue
Total Liabilities
Deferred inflows of resources:
Unavailable revenues
Fund balances
Nonspendable:
Fewson trust
Restricted:
Capital projects
Public safety
Parks and recreation
Community development
Total fund balances
Total liabilities and fund balances
Liabilities and Fund Balances
Liabilities:
Schedule 9
Permanent
Fund
Market Place
Police TIF Project 2 Market Place Market Place Creekside Fewson
Shop Development Development CID #1 CID #2 Development Project Totals
22,986$ 12,566$ 108,187$ 4,526$ 58,943$ 52,891$ -$ 2,393,554$
- - - 11,661 11,661 34,282 - 189,921
- - - - - - - -
- - - - - - - 402,743
- - - - - - - -
- - - - - - - -
- - - - - - 602,428 602,428
22,986$ 12,566$ 108,187$ 16,187$ 70,604$ 87,173$ 602,428$ 3,588,646$
195$ -$ -$ -$ -$ 1,168$ -$ 66,123$
- - - - - - - 859,114
195 - - - - 1,168 - 925,237
- - 64,760 - - 53,510 - 521,013
- - - - - - 580,224 580,224
- - - - - - 22,204 22,204
22,791 - - - - - - 97,049
- - - - - - - 1,246,768
- 12,566 43,427 16,187 70,604 32,495 - 196,151
22,791 12,566 43,427 16,187 70,604 32,495 602,428 2,142,396
22,986$ 12,566$ 108,187$ 16,187$ 70,604$ 87,173$ 602,428$ 3,588,646$
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Non-major Governmental Funds
December 31, 2022
58
Schedule 10
Court Police
Park Sales Economic Nature Parks Veterans Recoupment Training Fees
Tax Development Sanctuary Donations Memorial ARPA Fees LET
Revenues:
Taxes 775,714$ 56,738$ -$ -$ -$ -$ -$ -$
Intergovernmental - - 1,130 - - 325,000 - -
Interest - - - - - - - -
Special assessments - - - - - - - -
Grants and donations - - 5,760 1,046 31,688 - - -
Other 14,570 - - - - - - -
Total Revenues 790,284 56,738 6,890 1,046 31,688 325,000 - 784
Expenditures:
Current:
Public safety - - - - - - 489 -
Parks and recreation 508,440 - 8,262 - 5,600 - - -
Community development - 6,876 - - - - - -
508,440 6,876 8,262 - 5,600 - 489 -
Excess of Revenues
Over (Under) Expenditures 281,844 49,862 (1,372) 1,046 26,088 325,000 (489) 784
Other financing sources (uses):
Transfers in - - - - - - - -
Transfers out (92,436) (37,936) - - - (325,000) - -
Insurance proceeds 52,563 - - - - - - -
Total Other Financing
Sources (Uses)(39,873) (37,936) - - - (325,000) - -
Change in fund balance 241,971 11,926 (1,372) 1,046 26,088 - (489) 784
Fund Balances,
Beginning of Year 645,113 8,946 264,385 15,107 54,430 - 38,876 35,087
Fund Balances,
End of Year 887,084$ 20,872$ 263,013$ 16,153$ 80,518$ -$ 38,387$ 35,871$
(Continued on Next Page)
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance
Non-major Governmental Funds
For the Year Ended December 31, 2022
59
Revenues:
Taxes
Intergovernmental
Interest
Special assessments
Grants and donations
Other
Total Revenues
Expenditures:
Current:
Public safety
Parks and recreation
Community development
Excess of Revenues
Over (Under) Expenditures
Other financing sources (use
Transfers in
Transfers out
Insurance proceeds
Total Other Financing
Sources (Uses)
Change in fund balance
Fund Balances,
Beginning of Year
Fund Balances,
End of Year
C
Permanent
Fund
Market
Police TIF Place Market Place Market Place Creekside Fewson
Shop Development Project 2 CID #1 CID #2 Development Project Totals
-$ 351,627$ 159,975$ 50,343$ 50,343$ 538,397$ -$ 1,983,137$
- 219,927 18,934 - - 30,147 - 595,138
- 25 - - - - 1,255 1,280
- - - - - 373,421 - 373,421
22,410 - - - - - - 60,904
- - - - - - - 14,570
22,410 571,579 178,909 50,343 50,343 941,965 1,255 3,029,234
25,999 - - - - - - 26,488
- - - - - - - 522,302
- 571,554 599,081 55,158 2,750 1,234,134 - 2,469,553
25,999 571,554 599,081 55,158 2,750 1,234,134 - 3,018,343
(3,589) 25 (420,172) (4,815) 47,593 (292,169) 1,255 10,891
- - 51,282 - - 113,148 - 164,430
- - (9,787) (25,641) (25,641) (75,212) - (591,653)
- - - - - - - 52,563
- - 41,495 (25,641) (25,641) 37,936 - (374,660)
(3,589) 25 (378,677) (30,456) 21,952 (254,233) 1,255 (363,769)
26,380 12,541 422,104 46,643 48,652 286,728 601,173 2,506,165
22,791$ 12,566$ 43,427$ 16,187$ 70,604$ 32,495$ 602,428$ 2,142,396$
Schedule 10
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance
Non-major Governmental Funds
For the Year Ended December 31, 2022
60
Schedule 11
Meadows at Creekside
Creekside Creekside Creekside Special
CID TDD CID Allocation
Fund Fund Fund Fund Totals
Assets:
Cash and investments (1,766)$ (82)$ 792$ 53,947$ 52,891$
Receivables:
Taxes 17,141 17,141 - - 34,282
Total Assets 15,375$ 17,059$ 792$ 53,947$ 87,173$
Liabilities:
Accounts payable -$ -$ -$ 1,168$ 1,168$
Total Liabilities - - - 1,168 1,168
Deferred inflows of resources:
Unavailable revenues -
Special assessments - - 792 52,718 53,510
Fund balances:
Restricted:
Community development 15,375 17,059 - 61 32,495
Total fund balances 15,375 17,059 - 61 32,495
Total liabilities, deferred inflows
and fund balances 15,375$ 17,059$ 792$ 53,947$ 87,173$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Creekside Development
December 31, 2022
61
Schedule 12
Meadows at Creekside
Creekside Creekside Creekside Special
CID TDD CID Allocation
Fund Fund Fund Fund Totals
Revenues:
Taxes 135,155$ 124,715$ -$ 278,527$ 538,397$
Special assessments - - 373,421 - 373,421
Total Revenues 135,155 124,715 373,421 308,674 941,965
Expenditures:
Current:
Community development 151,616 147,155 498,818 436,545 1,234,134
151,616 147,155 498,818 436,545 1,234,134
Excess of Revenues Over
(Under) Expenditures (16,461) (22,440) (125,397) (127,871) (292,169)
Change in fund balance (54,067) (60,046) (125,397) (14,723) (254,233)
Fund Balances,
Beginning of Year 69,442 77,105 125,397 14,784 286,728
Fund Balances,
End of Year 15,375$ 17,059$ -$ 61$ 32,495$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
Creekside Development
For the Year Ended December 31, 2022
62
Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative)
Revenues:
Taxes -$ -$ -$ 487,649$ 478,048$ (9,601)$ -$ -$ -$
Special assessments - - - - - - 282,180 283,241 1,061
Interest - 2 2 120 338 218 - - -
Total Revenues - 2 2 487,769 478,386 (9,383) 282,180 283,241 1,061
Expenditures:
Debt service:
Principal - - - 395,103 395,103 - 285,000 285,000 -
Interest and fiscal charges - - - 32,461 32,461 - 56,361 56,361 -
Total Expenditures - - - 427,564 427,564 - 341,361 341,361 -
Excess of Revenues Over
(Under) Expenditures - 2 2 60,205 50,822 (9,383) (59,181) (58,120) 1,061
Other financing sources (uses):
Transfers in - - - - - - 59,181 60,881 1,700
Total Other Financing Sources (Uses)- (1,257) 1,257 - - - 59,181 60,881 1,700
Change in fund balance -$ (1,255) 1,259$ 60,205$ 50,822 (9,383)$ -$ 2,761 2,761$
Fund Balance (deficit),
Beginning of Year 1,255 77,869 19,964
Fund Balance (deficit), -$ 128,691$ 22,725$
End of Year
(Continued on Next Page)
Schedule 13
River Park Certificates of Participation Brush Creek
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
For the Year Ended December 31, 2022
Fund Balance - Budget and Actual
Debt Service Funds
63
Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative)
Revenues:
Taxes 1,683$ -$ (1,683)$ -$ -$ -$ 489,332$ 478,048$ (11,284)$
Intergovernmental - - - 217,566 215,816 (1,750) 217,566 215,816 (1,750)
Special assessments - 1,662 1,662 - - - 282,180 284,903 2,723
Interest - - - - - - 120 340 220
Total Revenues 1,683 1,662 (21) 217,566 215,816 (1,750) 989,198 979,107 (10,091)
Expenditures:
Debt service:
Principal 195,000 195,000 - 375,000 375,000 - 1,250,103 1,250,103 -
Interest and fiscal charges 38,665 38,665 - 65,328 65,328 - 192,815 192,815 -
Total Expenditures 233,665 233,665 - 440,328 440,328 - 1,442,918 1,442,918 -
Excess of Revenues Over
(Under) Expenditures (231,982) (232,003) (21) (222,762) (224,512) (1,750) (453,720) (463,811) (10,091)
Other financing sources (uses):
Transfers in 231,982 231,982 - 222,762 222,762 - 513,925 515,625 1,700
Total Other Financing Sources (Uses)231,982 231,982 - 222,762 222,762 - 513,925 514,368 443
Change in fund balance -$ (21) (21)$ -$ (1,750) (1,750)$ 60,205$ 50,557 (9,648)$
Fund Balance (deficit),
Beginning of Year 5,702 (67,279) 37,511
Fund Balance (deficit),
End of Year 5,681$ (69,029)$ 88,068$
Brink Meyer Lease Purchase Agreement Totals
Schedule 13
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
For the Year Ended December 31, 2022
Fund Balance - Budget and Actual
Debt Service Funds
64
Schedule 14
Variance with
2022 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 627,804$ 627,804$ 775,714$ 147,910$
Intergovenmental 1,000,000 1,000,000 - (1,000,000)
Other - - 14,570 14,570
Total Revenues 1,627,804 1,627,804 790,284 (837,520)
Expenditures:
Parks and recreation 2,424,500 2,424,500 508,440 1,916,060
Total Expenditures 2,424,500 2,424,500 508,440 1,916,060
Excess of Revenues Over Expenditures (796,696) (796,696) 281,844 1,078,540
Other financing sources (uses):
Transfers out (92,436) (92,436) (92,436) -
Insurance proceeds - - 52,563 52,563
Interfund loan proceeds 400,000 400,000 - (400,000)
Total Other Financing Sources (Uses)307,564 307,564 (39,873) (347,437)
Change in fund balance (489,132)$ (489,132)$ 241,971 731,103$
Fund Balance, Beginning of Year 645,113
Fund Balance, End of Year 887,084$
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
Park Sales Tax Fund
For the Year Ended December 31, 2022
65
Schedule 15
Variance with
2022 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 85,000$ 85,000$ 56,738$ (28,262)$
Total Revenues 85,000 85,000 56,738 (28,262)
Expenditures:
Community development 83,000 83,000 6,876 76,124
Total Expenditures 83,000 83,000 6,876 76,124
Excess of Revenues Over Expenditures 2,000 2,000 49,862 47,862
Other financing sources (uses):
Transfers out - - (37,936) (37,936)
Total Other Financing Sources (Uses)- - (37,936) (37,936)
Change in fund balance 2,000$ 2,000$ 11,926 9,926$
Fund Balance, Beginning of Year 8,946
Fund Balance, End of Year 20,872$
CITY OF PARKVILLE, MISSOURI
Economic Development Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2022
66
Schedule 16
Variance with
2022 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental -$ -$ 1,130$ 1,130$
Grants and donations 6,700 6,700 5,760 (940)
Total Revenues 6,700 6,700 6,890 190
Expenditures:
Parks and recreation 4,200 8,100 8,262 (162)
Total Expenditures 4,200 8,100 8,262 (162)
Change in fund balance 2,500$ (1,400)$ (1,372) 28$
Fund Balance, Beginning of Year 264,385
Fund Balance, End of Year 263,013$
CITY OF PARKVILLE, MISSOURI
Nature Sanctuary Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2022
67
Schedule 17
Variance with
2022 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Grants and donations 2,500$ 2,500$ 1,046$ (1,454)$
Total Revenues 2,500 2,500 1,046 (1,454)
Expenditures:
Parks and recreation 5,000 5,000 - 5,000
Total Expenditures 5,000 5,000 - 5,000
Change in fund balance (2,500)$ (2,500)$ 1,046 3,546$
Fund Balance, Beginning of Year 15,107
Fund Balance, End of Year 16,153$
CITY OF PARKVILLE, MISSOURI
Parks Donations Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2022
68
Schedule 18
Variance with
2022 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Grants and donations 100,000$ 100,000$ 31,688$ (68,312)$
Total Revenues 100,000 100,000 31,688 (68,312)
Expenditures:
Parks and recreation 65,000 65,000 5,600 59,400
Total Expenditures 65,000 65,000 5,600 59,400
Change in fund balance 35,000$ 35,000$ 26,088 (8,912)$
Fund Balance, Beginning of Year 54,430
Fund Balance, End of Year 80,518$
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
Veterans Memorial Fund
For the Year Ended December 31, 2022
69
Schedule 19
Variance with
2022 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental -$ -$ 325,000$ 325,000$
Total Revenues - - 325,000 325,000
Expenditures:
Total Expenditures - - - -
Excess of Revenues Over Expenditures - - 325,000 325,000
Other financing sources (uses):
Transfers out (450,000) (450,000) (325,000) 125,000
Total Other Financing Sources (Uses)(450,000) (450,000) (325,000) 125,000
Change in fund balance (450,000)$ (450,000)$ - 450,000$
Fund Balance, Beginning of Year -
Fund Balance, End of Year -$
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
ARPA Fund
For the Year Ended December 31, 2022
70
Schedule 20
Variance with
2022 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Interest 5,500$ 5,500$ 1,255$ (4,245)$
Total Revenues 5,500 5,500 1,255 (4,245)
Expenditures:
General government 17,440 17,440 - 17,440
Total Expenditures 17,440 17,440 - 17,440
Excess of Revenues Over Expenditures (11,940) (11,940) 1,255 13,195
Other financing sources (uses):
Interfund loan advance (400,000) - - -
Total Other Financing Sources (Uses)(400,000) - - -
Change in fund balance (411,940)$ (11,940)$ 1,255 13,195$
Fund Balance, Beginning of Year 601,173
Fund Balance, End of Year 602,428$
For the Year Ended December 31, 2022
Fund Balance - Budget and Actual
Fewson Fund
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
71
Schedule 21
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental -$ -$ 1,398,582$ 1,398,582$
Total Revenues - - 1,398,582 1,398,582
Expenditures:
Capital outlay 2,777,754 2,777,754 1,656,050 1,121,704
Total Expenditures 2,777,754 2,777,754 1,656,050 1,121,704
Excess of Revenues Over Expenditures (2,777,754) (2,777,754) (257,468) 2,520,286
Other financing sources (uses):
Transfers in 325,000 325,000 325,000 -
Transfers out (325,000) (325,000) - 325,000
Total Other Financing Sources (Uses)- - 325,000 325,000
Change in fund balance (2,777,754)$ (2,777,754)$ 67,532 2,845,286$
Fund Balance, Beginning of Year 243,411
Fund Balance, End of Year 310,943$
2022
For the Year Ended December 31, 2022
CITY OF PARKVILLE, MISSOURI
Capital Projects Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
72