HomeMy Public PortalAbout2019 AuditCity of Parkville, Missouri
Basic Financial Statements
With
Independent Auditor’s Report
For the Year Ended
December 31, 2019
i
CITY OF PARKVILLE, MISSOURI
TABLE OF CONTENTS
Page
Independent Auditor’s Report 1-2
Management’s Discussion and Analysis 3-10
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 Funds E 17
Statement of Revenues, Expenses and Changes in Fund Net Position –
Proprietary Funds F 18
Statement of Cash Flows - Proprietary Funds G 19
Statement of Assets and Liabilities – Fiduciary Funds H 20
Notes to the Basic Financial Statements 21-45
Schedule Page
Required Supplementary Information:
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – General Fund 1 46
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – Transportation Sales Tax Fund 2 47
Notes to Required Supplementary Information 48
Schedule of Changes in Net Pension Liability and Related Ratios 3 49
Schedule of Employer Contributions 4 50
ii
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 51
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – General Fund 6 52
Combining Balance Sheet – Debt Service Fund 7 53
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Debt Service Fund 8 54
Combining Balance Sheet – Non-major Governmental Funds 9 55-56
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Non-major Governmental Funds 10 57-58
Schedules of Revenues, Expenditures and Changes in Fund Balances –
Budget and Actual –
Reserve Fund 11 59
Debt Service Funds 12 60-61
Economic Development 13 62
Nature Sanctuary 14 63
Parks Donation 15 64
Veterans Memorial Fund 16 65
Fewson Fund 17 66
Capital Projects 18 67
1
COCHRAN HEAD VICK & CO., P.C.
Certified Public Accountants
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and
Board of Aldermen
City of Parkville, Missouri
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, 2019, and the
related notes to the financial statements, which collectively comprise the City’s basic financial
statements as listed in the table of contents.
Management’s Responsibility 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.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to the financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation and fair presentation of the
financial statements 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
entity’s internal control. Accordingly, we express no such opinion. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business-type activities,
each major fund, and the aggregate remaining fund information of the City as of December 31,
2019, and the respective changes in financial position and, where applicable, cash flows
thereof for the year then ended in accordance with accounting principles generally accepted in
the United States of America.
1251 NW Briarcliff Pkwy
Suite 125
Kansas City, MO 64116
(816) 584-9955
Fax (816) 584-9958
Other offices in Missouri
and Kansas
2
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, budgetary comparison information, schedule of changes in net pension liability and
related ratios and schedule of employer contributions as 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.
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 combining and individual non-major fund financial
statements and schedules are presented for purposes of additional analysis and are not a required part of the
basic financial statements.
The combining and individual non-major fund financial statements and schedules are the responsibility of
management and were derived from and relate 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 non-major fund financial statements and schedules are fairly stated in all material
respects in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated August 13, 2020, on
our consideration of the City’s internal control over financial reporting and our tests of its compliance with
certain provisions of laws, regulations, contracts, and 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 the effectiveness of the City’s 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.
Kansas City, Missouri
August 13, 2020
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
3
As management of the City of Parkville, we offer readers of the City of Parkville’s (the City)
financial statements this narrative overview and analysis of the financial activities of the City of
Parkville for the fiscal year ended December 31, 2019. We encourage readers to consider the
information presented here in conjunction with the basic financial statements and the
accompanying notes to those 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 $17,639,674 (net position), an increase of
$3,570,545 over the prior year.
2. As of the close of the current year, the City’s governmental funds showed a combined
ending balance of $5,900,001, a decrease of $171,028 from the prior year.
Approximately 29.1 percent of the fund balance, $1,719,293 is unassigned and available
for spending at the City’s discretion.
3. The City’s total long-term debt decreased $1,512,032 from 2018. Debt connected with
the City’s government activities decreased $1,349,113 and debt connected with the
City’s business-type activities decreased $162,919.
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.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
4
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.
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.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
5
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.
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
Activities Activities Total
2019 2018 2019 2018 2019 2018
Current and other assets 2,853,151$ 11,992,430$ 1,352,866$ 790,051$ 4,206,017$ 12,782,481$
Capital assets 14,277,277 13,279,415 4,155,138 4,431,204 18,432,415 17,710,619
Total assets 17,130,428 25,271,845 5,508,004 5,221,255 22,638,432 30,493,100
Deferred charge on refunding 21,259 24,226 - - 21,259 24,226
Deferred outflows - pension 259,352 167,839 - - 259,352 167,839
Total deferred outflows of resources 280,611 192,065 - - 280,611 192,065
Long-term debt 12,970,184 14,319,297 886,675 1,049,594 13,856,859 15,368,891
Other liabilities 925,780 813,631 203,362 92,613 1,129,142 906,244
Total liabilities 13,895,964 15,132,928 1,090,037 1,142,207 14,986,001 16,275,135
Deferred inflow - property taxes 168,080 179,393 - - 168,080 179,393
Deferred inflow - pension 125,288 161,508 - - 125,288 161,508
Total deferred intflows of resources 293,368 340,901 - - 293,368 340,901
Net position:
Net investment in capital assets 7,768,851 6,773,956 3,268,463 3,381,610 11,037,314 10,155,566
Restricted 2,013,844 2,777,302 169,518 166,177 2,183,362 2,943,479
Unrestricted 3,439,012 438,823 979,986 531,261 4,418,998 970,084
Total net position 13,221,707$ 9,990,081$ 4,417,967$ 4,079,048$ 17,639,674$ 14,069,129$
Governmental Business-type
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
6
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
$17,639,674 at the close of the year ended December 31, 2019.
Figure 2 – Statement of Changes in Net Position
Activities Activities Total
Revenues:
Program revenues:
Charges for services 1,002,359$ 867,726$ 1,602,375$ 1,397,139$ 2,604,734$ 2,264,865$
Operating grants and contributions 706,922 536,832 - - 706,922 536,832
Capital grants and contributions 2,370,770 3,771,910 27,427 1,254,389 2,398,197 5,026,299
General revenues:
Property taxes 1,723,989 1,610,486 - - 1,723,989 1,610,486
Sales taxes 2,035,755 1,790,051 - - 2,035,755 1,790,051
Franchise taxes 801,559 885,571 - - 801,559 885,571
Intergovernmental activity taxes 181,300 187,802 - - 181,300 187,802
Other taxes 1,876 1,454 - - 1,876 1,454
Other 1,884,295 112,317 32,609 9,757 1,916,904 122,074
Total revenues 10,708,825 9,764,149 1,662,411 2,661,285 12,371,236 12,425,434
Expenses:
General government 1,782,968 1,235,154 - - 1,782,968 1,235,154
Public safety 1,543,666 1,323,997 - - 1,543,666 1,323,997
Public works 2,222,809 2,211,315 - - 2,222,809 2,211,315
Parks and recreation 751,519 484,632 - - 751,519 484,632
Community development 780,899 769,938 - - 780,899 769,938
Interest on long-term debt 395,338 429,802 - - 395,338 429,802
Sewer - - 1,323,492 1,283,359 1,323,492 1,283,359
Total expenses 7,477,199 6,454,838 1,323,492 1,283,359 8,800,691 7,738,197
Change in net position 3,231,626 3,309,311 338,919 1,377,926 3,570,545 4,687,237
Net position, beginning 9,990,081 6,680,770 4,079,048 2,701,122 14,069,129 9,381,892
Net position, ending 13,221,707$ 9,990,081$ 4,417,967$ 4,079,048$ 17,639,674$ 14,069,129$
20182019
Governmental Business-type
20192019 2018 2018
The City's net position increased $3,570,545 during the 2019 fiscal year. Of the total,
governmental activities net position increased $3,231,626 and business-type activities net
position increased by $338,919. Total 2019 governmental revenues increased $944,676 over
2018 primarily due to the sale of property in connection with the Creekside Development
Project. Total governmental activities expenses increased $1,022,361. The increase is primarily
flood related and Route 9 expenses.
Total 2019 business-type activities revenues decreased $998,874 from 2018 primarily related to
contributed infrastructure capital assets received in 2018. Total business-type expenses
increased $40,133 from 2018.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
7
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 $5,900,001. Of this amount
$4,180,708 is non-spendable, restricted, committed or assigned for various purposes and
$1,719,293 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 $3,049,308. 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 33.7% of total general fund expenditures. Included in the general fund’s committed
fund balance is the City’s emergency reserve fund which totaled $1,232,108 at December 31,
2019.
The City’s fund balance of the general fund decreased $36,722 during the current fiscal year.
General Fund revenues increased by $634,737 over 2018 primarily related to increases in
licenses and permits, intergovernmental grants, and other revenues. 2019 general fund
expenditures and transfers out, were approximately $1,100,009 more than 2018. The increase
is mostly attributable to salaries and benefits and flood related expenditures.
At December 31, 2019, the transportation sales tax fund has an ending fund balance of
$115,527. The fund balance decreased $1,019,800 during the year primarily due transfers out
to the Capital Projects Fund related to the Route 9 improvements projects and transfers out to
the debt service fund.
The debt service fund has a total fund balance of $871,191, all of which is restricted for the
payment of principal, interest and fees. The fund balance increased by $19,653 during the year.
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 $4,417,967 of which $979,986 is unrestricted. The sewer fund’s net position increased
by $338,919 from the prior year due to an increase in sewer revenues.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
8
General Fund Actual to Budget Analysis
Actual revenues exceeded budgeted revenues by $110,618 primarily due to license and permits
exceeding budgeted revenues. Actual expenditures were $448,973 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. Additional savings were realized in professional services.
Capital Asset and Debt Administration
Capital Assets
At the end of year, the City had $18,432,415 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 $721,796 from
last year as current year capital asset additions primarily related to contributed infrastructure
assets exceeded depreciation expense.
City of Parkville, Missouri
Capital Assets (Net of Depreciation)
Additional information on the City’s capital assets can be found in Note 6 in the Notes to the
Basic Financial Statements.
2019 2018 2019 2018 2019 2018
Land 2,719,880$ 2,719,880$ 59,975$ 59,975$ 2,779,855$ 2,779,855$
Buildings and improvements 3,021,463 3,144,205 1,538,843 1,726,397 4,560,306 4,870,602
Equipment and vehicles 308,862 398,865 22,970 35,823 331,832 434,688
Infrastructure 8,227,072 7,016,465 2,533,350 2,609,009 10,760,422 9,625,474
Total 14,277,277$ 13,279,415$ 4,155,138$ 4,431,204$ 18,432,415$ 17,710,619$
Total
Governmental Business-Type
Activities Activities
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
9
Long-Term Obligations - At the end of the current fiscal year, the City had total long-term
obligations outstanding of $13,856,859.
City of Parkville, Missouri
Outstanding Debt
2019 2018 2019 2018 2019 2018
Limited General Obligation
Bonds (plus premium) 8,648,135$ 9,348,232$ -$ -$ 8,648,135$ 9,348,232$
Certificates of Participation 2,397,321 2,751,453 - - 2,397,321 2,751,453
Loan agreement 1,856,700 2,159,600 - - 1,856,700 2,159,600
Compensated Absences 68,028 60,012 31,675 - 99,703 60,012
Revenue Bonds (plus premium) - - 855,000 1,049,594 855,000 1,049,594
Total 12,970,184$ 14,319,297$ 886,675$ 1,049,594$ 13,856,859$ 15,368,891$
Total
Governmental Business-Type
Activities Activities
The governmental activities decreased $1,349,113 and the business-type activities decreased
$162,919.
Additional information on the City’s long-term obligations can be found in Note 7 in the Notes to
the Basic Financial Statements.
Economic Factors and Next Year’s Budgets and Rates
As in prior years, the City budgeted cautiously, holding 2020 revenues and expenditure budgets
at or near 2019 levels. The 2020 budget maintains essential services at current levels and
directs limited additional resources toward the 2020 Priorities as established by the Board of
Aldermen in August 2019. The City reaffirmed the five Critical Success Factors of Basic
Services, Infrastructure, Economic Development, Parks and Finances. The City established
priorities for the next twelve to eighteen months that focused on specific strategies in five goal
areas: Service Delivery & Communications, Parks and Recreation, Infrastructure and Public
Facilities, Economic Development and Financial Stability. The City continues to experience
steady growth in its retail, residential, and commercial base that bodes well for future financial
security. Like all cities, Parkville has experienced some negative effects as a result of the
COVID-19 pandemic. But steady revenues and ample reserves have allowed the City to
weather the storm. In early 2019, the Board approved a redevelopment agreement and
economic development contract with a developer for a multi-phased project known as
“Creekside”, a proposed mixed use development located at the southeast, southwest, and
northwest quadrants of the intersection of Highway 45 and Interstate 435. Progress on this and
other developments have been made throughout 2019 and 2020. The City continues to take
advantage of grant opportunities and strategic financing. For example, the City reissued the
Brink Meyer and Brush Creek NID Bonds which will result in taxpayer savings of over $1.3
million. Property owners and the City’s general budget will benefit from the interest savings,
which will average approximately $97,000 per year until 2034.
CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2019
10
Contacting the City’s Financial Management
This report is designed to provide our citizens, taxpayers, customers and creditors with a
general overview of the City’s finances and to demonstrate the City’s accountability for the
money it receives. If you have questions about this report or need additional financial
information, contact the City Clerk’s office, Parkville, Missouri.
Exhibit A
Governmental Business-type
Activities Activities Total
Assets
Cash and investments 4,281,962$ 989,241$ 5,271,203$
Receivables:
Taxes 408,912 - 408,912
Special assessments 2,857,318 - 2,857,318
Accounts and other 38 180,622 180,660
Note receivable 2,000,000 - 2,000,000
Due from other governments 292,933 - 292,933
Prepaids, deposits, and other assets 97,907 - 97,907
Restricted assets:
Cash and investments 1,614,081 183,003 1,797,084
Land held for redevelopment 1,300,000 - 1,300,000
Capital assets:
Not being depreciated 2,719,880 59,975 2,779,855
Being depreciated, net of depreciation 11,557,397 4,095,163 15,652,560
Total assets 27,130,428 5,508,004 32,638,432
Deferred Outflows of Resources
Deferred charges on refunding 21,259 - 21,259
Deferred outflow - pension related activity 259,352 - 259,352
Total deferred outflows of resources 280,611 - 280,611
Liabilities
Accounts payable 238,479 167,179 405,658
Accrued payroll and benefits 90,257 1,423 91,680
Accrued interest 135,758 21,275 157,033
Payable from restricted assets:
Customer deposits - 13,485 13,485
Long term debt:
Net pension liability 461,286 - 461,286
Due within one year 2,489,725 160,000 2,649,725
Due in more than one year 10,480,459 726,675 11,207,134
Total liabilities 13,895,964 1,090,037 14,986,001
Deferred Inflows of Resources
Deferred inflow - property taxes 168,080 - 168,080
Deferred inflow - pension related activity 125,288 - 125,288
Total deferred inflows of resources 293,368 - 293,368
Net Position
Net investment in capital assets 7,768,851 3,268,463 11,037,314
Restricted :
Capital projects 129,502 - 129,502
Debt service 871,191 169,518 1,040,709
Public safety 99,377 - 99,377
Parks and recreation 244,188 - 244,188
Community development 90,962 - 90,962
Fewson trust (non-expendable)578,624 - 578,624
Unrestricted 3,439,012 979,986 4,418,998
Total net position 13,221,707$ 4,417,967$ 17,639,674$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Net Position
December 31, 2019
Primary Government
11
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 1,782,968$ 851,120$ -$ -$ (931,848)$ -$ (931,848)$
Public safety 1,543,666 16,948 17,824 - (1,508,894) - (1,508,894)
Public works 2,222,809 4,547 237,664 2,086,140 105,542 - 105,542
Parks and recreation 751,519 129,744 451,434 9,828 (160,513) - (160,513)
Community development 780,899 - - 274,802 (506,097) - (506,097)
Interest on long-term debt 395,338 - - - (395,338) - (395,338)
Total governmental activities 7,477,199 1,002,359 706,922 2,370,770 (3,397,148) - (3,397,148)
Business-type activities
Sewer 1,323,492 1,602,375 - 27,427 - 306,310 306,310
Total business-type activities 1,323,492 1,602,375 - 27,427 - 306,310 306,310
Total primary government 8,800,691$ 2,604,734$ 706,922$ 2,398,197$ (3,397,148) 306,310 (3,090,838)
General revenues:
Taxes:
Property taxes, levied for general purpose 1,307,938 - 1,307,938
Property taxes, levied for debt service 416,051 - 416,051
Sales taxes 2,035,755 - 2,035,755
Franchise taxes 801,559 - 801,559
Intergovernmental activity taxes 181,300 - 181,300
Other taxes 1,876 - 1,876
Unrestricted investment earnings 43,989 5,672 49,661
Gain on disposal of assets 1,610,082 - 1,610,082
Miscellaneous 230,224 26,937 257,161
Total general revenues 6,628,774 32,609 6,661,383
Change in net position 3,231,626 338,919 3,570,545
Net position, beginning of year 9,990,081 4,079,048 14,069,129
Net position, end of year 13,221,707$ 4,417,967$ 17,639,674$
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, 2019
12
Ex
h
i
b
i
t
B
Exhibit C
Transportation Nonmajor Total
Sales Tax Debt Service Governmental Governmental
General Fund Fund Funds Funds
Assets
Cash and investments 3,072,694$ -$ -$ 1,209,268$ 4,281,962$
Receivables:
Taxes 250,574 72,678 - 85,660 408,912
Special assessments - - 2,857,318 - 2,857,318
Accounts and other 38 - - - 38
Note receivable 2,000,000 - - - 2,000,000
Due from other governments 280,705 12,228 - - 292,933
Due from other funds - 32,954 - - 32,954
Prepaids, deposits and other assets 97,907 - - - 97,907
Restricted cash and investments - 48,672 972,810 592,599 1,614,081
Total Assets 5,701,918$ 166,532$ 3,830,128$ 1,887,527$ 11,586,105$
Liabilities
Accounts payable 163,922$ 51,005$ -$ 23,552$ 238,479$
Accrued payroll and benefits 90,257 - - - 90,257
Due to other funds - - 32,954 - 32,954
Total Liabilities 254,179 51,005 32,954 23,552 361,690
Deferred inflows of resources
Unavailable revenues:
Note receivable 2,000,000 - - - 2,000,000
Grants 274,802 - - - 274,802
Special assessments and
property taxes 123,629 - 2,925,983 - 3,049,612
2,398,431 - 2,925,983 - 5,324,414
Fund balances:
Nonspendable:
Prepaid items 97,907 - - - 97,907
Fewson trust - - - 578,624 578,624
Restricted:
Capital projects - 115,527 - 13,975 129,502
Debt service - - 871,191 - 871,191
Public safety - - - 99,377 99,377
Parks and recreation - - - 244,188 244,188
Community development - - - 90,962 90,962
Committed:
Emergency reserve 1,232,108 - - - 1,232,108
Assigned:
Capital projects - - - 836,849 836,849
Unassigned 1,719,293 - - - 1,719,293
Total fund balance 3,049,308 115,527 871,191 1,863,975 5,900,001
Total liabilities, deferred inflows
of resources and fund balances 5,701,918$ 166,532$ 3,830,128$ 1,887,527$ 11,586,105$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Balance Sheet - Governmental Funds
December 31, 2019
13
Exhibit C
Continued
Fund balances of governmental funds 5,900,001$
4,881,532
14,277,277
1,300,000
274,802
21,259
134,064
(135,758)
(461,286)
Long-term liabilities (12,970,184)
Net position of governmental activities 13,221,707$
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 is the net effect of these
differences in the treatment of long-term debt and related items:
Deferred charges on refunding are not due and 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 and special assessments 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.
Long-term assets held for redevelopment are not reported in the fund statements
Revenues in the statement of activities that do not provide current financial resources
are reported as unavailable revenue in the governmental funds.
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, 2019
Capital assets used in governmental activities are not financial resources and
therefore are not reported in the governmental fund statements.
14
Exhibit D
Transportation Nonmajor Total
Sales Tax Debt Service Governmental Governmental
General Fund Fund Funds Funds
Revenues:
Taxes 3,159,443$ 490,501$ 416,051$ 497,184$ 4,563,179$
Intergovernmental 506,705 539,081 126,032 191,128 1,362,946
Charges for services 16,169 - - 635 16,804
Fines and forfeitures 130,596 - - - 130,596
Licenses and permits 570,892 - - - 570,892
Special assessments - - 576,750 - 576,750
Grants and donations - - - 61,370 61,370
Charges for sewer administration 230,000 - - - 230,000
Interest 6,620 - 27,334 10,035 43,989
Other 263,723 7,550 - 1,500 272,773
Total Revenues 4,884,148 1,037,132 1,146,167 761,852 7,829,299
Expenditures:
Current:
General government 1,682,059 - 4,000 - 1,686,059
Public safety 1,509,838 - - 9,593 1,519,431
Public works 919,110 - - - 919,110
Parks and recreation 698,001 - - 13,271 711,272
Community development 292,926 - - 483,018 775,944
Capital outlay - 770,148 - 267,085 1,037,233
Debt service:
Principal - - 1,332,032 - 1,332,032
Interest and fiscal charges - - 429,328 - 429,328
Total Expenditures 5,101,934 770,148 1,765,360 772,967 8,410,409
Excess of Revenues Over (Under) Expenditures (217,786) 266,984 (619,193) (11,115) (581,110)
Other financing sources (uses):
Transfers in 194,453 - 638,846 911,229 1,744,528
Transfers out (423,471) (1,286,784) - (34,273) (1,744,528)
Sale of assets 410,082 - - - 410,082
Total Other Financing Sources (Uses)181,064 (1,286,784) 638,846 876,956 410,082
Net change in fund balances (36,722) (1,019,800) 19,653 865,841 (171,028)
Fund balances, beginning of year 3,086,030 1,135,327 851,538 998,134 6,071,029
Fund balances, end of year 3,049,308$ 115,527$ 871,191$ 1,863,975$ 5,900,001$
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, 2019
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 (171,028)$
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 58,589
Depreciation (527,658)
Donated capital assets 1,466,931
Long-term assets held for redevelopment are not reported in the
fund statements.
Gain on disposal of land held for redevelopment 1,200,000
Revenues in the statement of activities that do not provide current
financial resources are reported as deferred inflows in the
governmental funds.
Special assessments, notes receivable, and grants (197,487)
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 1,332,032
Changes in unamortized bond issuance premium and deferred
charges 22,130
Changes in accrued interest expense 11,860
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.
Change in compensated absences and net pension obligation 36,257
Change in net position of governmental activities 3,231,626$
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, 2019
Governmental Funds to the Statement of Activities
16
Exhibit E
Sewer
Fund
Assets
Current assets:
Cash and investments 989,241$
Receivables, net:
Accounts and other 180,622
Restricted cash and investments 183,003
Total current assets 1,352,866
Noncurrent assets:
59,975
4,095,163
Total noncurrent assets 4,155,138
Total assets 5,508,004
Liabilities
Current liabilities:
Accounts payable 167,179
Accrued liabilities 1,423
Current liabilities (payable from restricted assets):
Customer deposits 13,485
Interest payable 21,275
Current portion of bonds payable 160,000
Total current liabilities:363,362
Long-term liabilities:
Bonds payable 726,675
Total long-term liabilities:726,675
Total liabilities 1,090,037
Net position
Net investment in capital assets 3,268,463
Restricted net position for:
Debt service 169,518
Unrestricted 979,986
Total net position 4,417,967$
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, 2019
Capital assets:
Not being depreciated
17
Exhibit F
Sewer
Fund
Operating revenues:
Charges for services 1,602,375$
Other 26,937
Total operating revenues 1,629,312
Operating expenses:
Personnel services 25,027
Contractual services 336,038
Administrative fee 230,000
Depreciation 276,066
Repairs and maintenance 369,072
Other 47,738
Total operating expenses 1,283,941
Operating income 345,371
Nonoperating revenues (expenses):
Intergovernmental revenues 27,427
Interest income 5,672
Interest expense (39,551)
Total nonoperating revenues (expenses) (6,452)
Change in net position 338,919
Total net position, beginning of year 4,079,048
Total net position, end of year 4,417,967$
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, 2019
18
Exhibit G
Sewer
Fund
Cash flows from operating activities:
Receipts from customers and others 1,601,968$
Payments to suppliers (868,004)
Payments to employees (25,013)
Net cash provided by operating activities 708,951
Cash flows provided by noncapital financing activities:
Intergovernmental revenues 27,427
Net cash flows provided by noncapital financing activities 27,427
Cash flows from investing activities:
Interest received 5,672
Net cash flows provided by investing activities 5,672
Cash flows from capital
and related financing activities:
Interest and fiscal charges (51,539)
Principal payments on long-term debt (155,000)
Net cash flows provided by (used in) capital
and related financing activities (206,539)
Net change in cash and equivalents 535,511
Cash and equivalents, beginning of year 636,733
Cash and equivalents, end of year 1,172,244$
Cash and investments reported on the
Statement of Net Position
Cash and investments 989,241$
Restricted cash and investments 183,003
Total cash and investments 1,172,244$
Reconciliation of operating income to net cash
provided by operating activities:
Operating income 345,371$
Adjustments to reconcile operating income to
net cash provided by operations:
Depreciation and amortization 276,066
Changes in:
Receivables (27,344)
Prepaid expenses and deposits 40
Accounts payable 114,804
Accrued liabilities 14
Net cash provided by operating activities 708,951$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2019
19
Exhibit H
Municipal Total
Court Agency Funds
Assets
Cash and investments 21,301$ 21,301$
Total assets 21,301$ 21,301$
Liabilities
Due to others 21,301$ 21,301$
Total liabilities 21,301$ 21,301$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Assets and Liabilities
Fiduciary Fund
December 31, 2019
20
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
21
(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 nearly 5,600 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, 2019
22
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 Fund – This fund accounts for the accumulation of resources for, and the payment of,
principal and interest on long-term obligations of the City.
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.
Capital Projects Fund – This fund is used to account for major capital improvement projects.
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 waste water 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 FUNDS
The City maintains one 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, 2019
23
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, 2019
24
D. 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, and certificates of deposits. 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.
E. 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.
F. 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.
G. Prepaid Items
Certain payments reflect costs applicable to future accounting periods and are recorded as prepaid items.
H. 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.
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.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
25
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
I. 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.
J. 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 position 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
of the 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 position 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 two 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 asset.
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,
note receivable, and special assessments, fees, and grants. 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.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
26
K. 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 $230,000 for the year ended December 31, 2019.
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.
L. 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 met 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.
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.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
27
M. 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 government’s policy to consider restricted net position to have been depleted before unrestricted net
position is applied.
N. 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.
(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:
Cash on hand 331$
Demand deposits 5,823,021
Certificates of deposits 351,404
US treasuries and agency securities 51,025
Restricted cash equivalents held in trust 863,807
7,089,588$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
28
Government-wide Fiduciary funds
statement statement of
of net position assets and liabilities Total
Cash and investments 5,271,203$ 21,301$ 5,292,504$
Restricted cash and investments 1,797,084 - 1,797,084
7,068,287$ 21,301$ 7,089,588$
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, 2019, 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, 2019.
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.
The City has the following recurring fair value measurements as of December 31, 2019:
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.
Level 1
Investment
Federal Home Loan Bank 51,025$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
29
(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, 2018, was $240,681,116.
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 $ 0.4653
General Revenue-
Temporary 0.1759
$ 0.6412
Tax revenues for the year ended December 31, 2019 consisted of the following:
Property Sales Franchise Other
Taxes Taxes Taxes Taxes Total
Major governmental funds:
General $ 1,307,938 $ 1,049,946 $ 801,559 $ - 3,159,443$
Transportation Sales Tax - 490,501 - - 490,501
Debt Service 416,051 - - - 416,051
Nonmajor funds - 495,308 - 1,876 497,184
$ 1,723,989 $ 2,035,755 $ 801,559 $ 1,876 $ 4,563,179
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, 2019:
Sales Franchise
Taxes Taxes Total
Major governmental funds:
General $ 153,576 $ 96,998 250,574$
Transportation Sales Tax 72,678 - 72,678
Nonmajor funds 85,660 - 85,660
$ 311,914 $ 96,998 $ 408,912
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
30
(4) Intergovernmental Revenues/Receivables
Intergovernmental revenues for the year ended December 31,2019 consisted of the following:
General Transportation Debt Nonmajor
Fund Sales Tax Service Funds Total
Grants - Federal, State and Local $430,407 $ - $ - $ 9,828 $ 440,235
State: - -
Motor vehicle taxes and fees 76,298 150,365 - - 226,663
Local:
Special road district - 159,097 - - 159,097
County transportation - 229,619 - - 229,619
Economic activity taxes - - - 181,300 181,300
9 Hwy CID - - 126,032 - 126,032
Total intergovernmental revenues $506,705 $ 539,081 $ 126,032 $191,128 $ 1,362,946
Amounts due from other governments at December 31, 2019, were as follows:
General Transportation
Fund Sales Tax Total
Motor vehicle taxes and fees $ 5,903 $ 12,228 18,131$
Grants - federal 274,802 - 274,802
Total due from other governments $ 280,705 $ 12,228 $292,933
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
31
(5) Interfund Activity
Transfers between funds for the year ended December 31, 2019 were as follows:
Nonmajor
Transportation Governmental
General Sales Tax Funds Total
Transfers In:
Governmental activities:
General Fund -$ 185,000$ 9,453$ 194,453$
Debt Service Fund 423,471 215,375 - 638,846
Nonmajor Governmental Funds - 886,409 24,820 911,229
Total 423,471$ 1,286,784$ 34,273$ 1,744,528$
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, 2019 were as follows:
Due to:
Transportation
Sales Tax Fund
Due from:
Debt Service Fund 32,954$
32,954$
Amounts due to the Transportation Sales Tax Fund represent advances for short-term cash flow needs.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
32
(6) Capital Assets
A summary of the changes in capital assets for the year ended December 31, 2019 is as follows:
December 31,December 31,
2018 Additions Deletions 2019
Governmental activities:
Capital assets, not being depreciated
Land 2,719,880$ -$ -$ 2,719,880$
Total capital assets, not being depreciated 2,719,880 - - 2,719,880
Capital assets, being depreciated
Buildings and improvements 4,682,779 - - 4,682,779
Equipment and vehicles 2,389,228 58,589 27,946 2,419,871
Infrastructure 8,791,833 1,466,931 - 10,258,764
Total capital assets being depreciated 15,863,840 1,525,520 27,946 17,361,414
Less accumulated depreciation for:
Buildings and improvements 1,538,574 122,742 - 1,661,316
Equipment and vehicles 1,990,363 148,592 27,946 2,111,009
Infrastructure 1,775,368 256,324 - 2,031,692
Total accumulated depreciation 5,304,305 527,658 27,946 5,804,017
Total capital assets being depreciated, net 10,559,535 11,557,397
Governmental activities capital assets, net 13,279,415$ 14,277,277$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
33
December 31,December 31,
2018 Additions Deletions 2019
Business-type activities:
Capital assets, not being depreciated
Land 59,975$ -$ -$ 59,975$
Total capital assets, not being depreciated 59,975 - - 59,975
Capital assets, being depreciated
Buildings and improvements 5,503,734 - - 5,503,734
Equipment and vehicles 320,659 - - 320,659
Infrastructure 3,709,528 - - 3,709,528
Total capital assets being depreciated 9,533,921 - - 9,533,921
Less accumulated depreciation for:
Buildings and improvements 3,777,337 187,554 - 3,964,891
Equipment and vehicles 284,836 12,853 - 297,689
Infrastructure 1,100,519 75,659 - 1,176,178
Total accumulated depreciation 5,162,692 276,066 - 5,438,758
Total capital assets being depreciated, net 4,371,229 4,095,163
Business-type activities capital assets, net 4,431,204$ 4,155,138$
Depreciation expense was charged to functions and programs of the primary government as follows:
Governmental activities:
General government 112,635$
Public safety 25,609
Public works 334,414
Parks and recreation 44,923
Community development 10,077
Total depreciation expense for
governmental activities 527,658$
Business-type activities:
Sewer 276,066$
Total depreciation expense for
business-type activities 276,066$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
34
(7) Long Term Debt
A summary of the changes in long term debt for the year ended December 31, 2019 is as follows:
Beginning Adjustments/ Adjustments/ End of Due Within
Governmental Activities: of Year Additions Retirements Year One Year
Limited general obligation bonds:
Series 2010 - River Park 620,000$ -$ 305,000$ 315,000$ 315,000$
Series 2014A - Brush Creek 4,950,000 - 220,000 4,730,000 235,000
Series 2014B - Brink Meyer 3,390,000 - 150,000 3,240,000 155,000
Premium on issuance 388,232 - 25,097 363,135 25,097
9,348,232 - 700,097 8,648,135 730,097
Certificates of participation 2,751,453 - 354,132 2,397,321 361,800
Loan agreement 2,159,600 - 302,900 1,856,700 1,329,800
* Compensated absences 60,012 8,016 - 68,028 68,028
Total Governmental Activities 14,319,297 8,016 1,357,129 12,970,184 2,489,725
Business-type Activites:
Revenue bonds 1,010,000 - 155,000 855,000 160,000
Premium on issuance 39,594 - 7,919 31,675 -
Total Business-type Activites 1,049,594 - 162,919 886,675 160,000
Total Primary Government 15,368,891$ 8,016$ 1,520,048$ 13,856,859$ 2,649,725$
* 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, 2019 are as follows:
Series 2010 - Neighborhood Improvement District - Limited General
Obligation Refunding Bonds (River Park Project); due in annual
installments through March 1, 2020; interest at 1.75% to 3.25% 315,000$
Series 2014A - Neighborhood Improvement District - Limited General
Obligation Bonds (Brush Creek Drainage Area Neighborhood
Improvement Project); due in annual installments through March 1,
2034; interest at 3.0% to 4.0% 4,730,000
Series 2014B - Neighborhood Improvement District - Limited General
Obligation Bonds (Brink Meyer Road Neighborhood Improvement
Project); due in annual installments through March 1, 2034; int erest at
3.0% to 3.25% 3,240,000
Total limited general obligation bonds 8,285,000$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
35
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. As a result, the City has
acquired certain properties through conveyance and the judicial foreclosure process. City management
has estimated the acquisition value of the acquired properties and has recorded these amounts as “Land
held for redevelopment”. These properties are no longer subject to Brush Creek NID and/or the Brink
Meyer Road NID special assessments.
A summary of the changes in land held for redevelopment is as follows:
December 31,December 31,
2018 Additions Deletions 2019
Land held for redevelopment 2,100,000$ -$ 800,000$ 1,300,000$
The Brush Creek and Brink Meyer NID’s originally scheduled annual special assessments necessary to
meet the Series 2014A and 2014B 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, 2019, the City transferred $423,471 from the General Fund to the
Debt Service Fund to cover the shortfall of special assessments necessary to meet the 2014A and 2014B
debt service requirements.
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.
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). 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. The Promissory Note is payable solely from
the CID special assessments and secured by a second deed of trust. The buyer’s obligation to purchase
and the City’s obligation to sell the Phase II property is subject to certain contingencies related to the
commencement of Phase I construction that must occur by January 1, 2020. Subsequent to yearend, the
first amendment to the Agreement extended the Phase I construction date to August 1, 2020. On July 31,
2020, the City completed the Phase II closing.
The CID special assessments are anticipated to begin in 2021. Payments on the promissory notes are
scheduled to be $300,000 per year up to a total of $4,800,000.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
36
B. Certificates of Participation
During fiscal year 2015, the City issued $3,383,722 Refunding Certificates of Participation 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, 2019, is
$2,397,321.
C. Loan Agreement
During fiscal year 2017, the City entered into a loan agreement for $2,353,700 for the purpose of
transportation related capital improvements. Principal and interest payments are due semi-annually
beginning on September 1, 2017 through March 1, 2022 with principal payments ranging from $194,100
to $1,329,800, with an interest rate of 2.19%. The outstanding balance at December 31, 2019, is
$1,856,700.
Portions of the proceeds of the loan agreement ($1,020,300) will be used to fund the Route 9 Project (the
Project). The total costs of the Project have been estimated at $3,484,000. The Project is currently in the
engineering phase with the construction phase estimated to begin in 2021. The City has been awarded
$965,000 in federal funds and is anticipating $1,734,500 in state funding for the construction costs of the
Project. The state and federal funding sources requires a local match of $784,500. To provide funding for
the matching requirement, the City has entered into a cooperative agreement with the 9 Highway Corridor
Community Improvement District (the District). The agreement provides for reimbursements to the City for
certain costs associated with the Project payable from the District’s 1% sales tax.
On February 27, 2020, the loan agreement was amended to restructure the scheduled note maturities
due to the unanticipated delays in the project and receipt of the related funding as it was projected that
the federal funds would be available to the City to be used for the scheduled March 1, 2020 debt service
payment of $1,329,800.
D. 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 (SRF) Sewage System Revenue Bonds (SRF) 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, 2019, is
$855,000.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
37
E. Future Debt Service Requirements
F. 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, 2019, there are two outstanding industrial revenue bond issuances
with a total principal amount of approximately $197 million.
Year Ending
December 31 Principal Interest Principal Interest Principal Interest
2020 315,000$ 5,119$ 230,000$ 164,287$ 155,000$ 132,613$
2021 - - 235,000 157,312 160,000 127,888
2022 - - 240,000 150,188 160,000 123,088
2023 - - 250,000 142,838 165,000 118,213
2024 - - 255,000 135,263 170,000 113,188
2025-2029 - - 1,425,000 538,981 955,000 466,594
2030-2034 - - 2,095,000 245,713 1,475,000 219,125
315,000$ 5,119$ 4,730,000$ 1,534,582$ 3,240,000$ 1,300,709$
Year Ending
December 31 Principal Interest Principal Interest Principal Interest
2020 361,800$ 49,648$ 1,329,800$ 26,100$ 2,391,600$ 377,767$
2021 388,809 41,241 316,200 8,077 1,100,009 334,518
2022 395,103 32,461 210,700 2,307 1,005,803 308,044
2023 420,474 23,327 - - 835,474 284,378
2024 444,872 13,635 - - 869,872 262,086
2025-2029 386,263 13,350 - - 2,766,263 1,018,925
2030-2034 - - - - 3,570,000 464,838
Totals 2,397,321$ 173,662$ 1,856,700$ 36,484$ 12,539,021$ 3,050,556$
Year Ending
December 31 Principal Interest
2020 160,000$ 46,619$
2021 160,000 38,350
2022 165,000 29,950
2023 170,000 21,625
2024 170,000 13,250
2025-2029 30,000 5,175
Totals 855,000$ 154,969$
Loan Agreement Total
Business-type Activities
Sewage System Revenue
Bonds Series 2004A
Limited General Obligation
Refunding Bonds - Series
2010 (River Park)
Governmental Activities
Limited General Obligation
Bonds - Series 2014A
(Brush Creek)
Limited General Obligation
Bonds - Series 2014
(Brink Meyer)
Governmental Activities
Certificates of Participation
Series 2015
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
38
(8) 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,
2019, expenses incurred under these agreements were $30,728 (Kansas City, Missouri) and $21,040
(Platte County Regional Sewer District).
(9) 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.
2019 Valuation
1.5% for life
5 Years
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 2 2 4
Inactive employees entitled to but not yet
receiving benefits 9 10 19
Active employees 23 14 37
34 26 60
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
39
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 8.5% (General) and 10.9% (Police) of annual covered payroll.
E. Net Pension Liability
The City’s net pension liability was measured as of June 30, 2019, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of February 28, 2019.
F. Actuarial Assumptions
The total pension liability in the February 28, 2019 actuarial valuation was determined using the following
actuarial assumptions, applied to all periods included in the measurement:
Inflation 3.25% wage inflation; 2.5% price inflation
Salary Increase 3.25% to 6.55% including wage inflation
Investment rate of return 7.25%, net of investment expenses
The healthy retiree mortality tables, for post-retirement mortality, were the RP-2014 Healthy Annuitant
mortality tables for males and females. The disabled retiree mortality tables, for post-retirement mortality,
were the RP-2014 disabled mortality table for males and females. The pre-retirement mortality tables
used were the RP-2014 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-2015 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 10.00% 0.00%
Leverage -35.00% 0.51%
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
40
G. Discount Rate
The discount rate used to measure the total pension liability is 7.25%. 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.
H. Changes in the Net Pension Liability
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability
(a) (b) (a) - (b)
2,159,111$ 1,781,285$ 377,826$
172,547 - 172,547
161,830 - 161,830
117,686 - 117,686
- 177,852 (177,852)
- 77,157 (77,157)
- 120,889 (120,889)
(23,897) (23,897) -
- (5,440) 5,440
- (1,855) 1,855
Net changes 428,166 344,706 83,460
2,587,277$ 2,125,991$ 461,286$ Balances at end of year
Contributions - employer
Contributions - employee
Net investment income
Benefit payments, including refunds
Administrative expense
Other changes (net transfer)
Difference between expected and actual
Increase (Decrease)
Balances at beginning of year
Changes for the year:
Service Cost
Interest
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
7.25%, as well as what the employer’s Net Pension Liability would be using a discount rate that is one
percentage point lower (6.25%) or one percentage point higher (8.25%) than the current rate.
1% Decrease
Current Single
Discount Rate
Assumption 1% Increase
6.25% 7.25% 8.25%
Total Pension Liability 3,045,019$ 2,587,277$ 2,219,219$
Plan Fiduciary Net Position (2,125,991) (2,125,991) (2,125,991)
Net Pension Liability 919,028$ 461,286$ 93,228$
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
41
J. Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
For the year ended December 31, 2019, the City recognized LAGERS pension expense of $148,303
($74,108 (General) and $74,195 (Police)). The City reported deferred outflows related to LAGERS
pension from the following sources:
General Police Total
Deferred Outflows of Resources:
Assumption changes 24,298$ 75,007$ 99,305$
Difference in experience 48,710 14,939 63,649
Contributions subsequent to the
measurement date* 58,803 37,595 96,398
Total 131,811$ 127,541$ 259,352$
Deferred Inflows of Resources:
Assumption changes 6,652$ -$ 6,652$
21,021 15,364 36,385
Difference in experience 51,081 31,170 82,251
Total 78,754$ 46,534$ 125,288$
.
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, 2020.
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
2020 (2,872)$ 14,137$ 11,265$
2021 (11,299) 7,231 (4,068)
2022 (4,813) 11,821 7,008
2023 5,211 9,745 14,956
2024 7,964 478 8,442
Thereafter 63 - 63
Total (5,746)$ 43,412$ 37,666$
K. Payable to the Pension Plan
At December 31, 2019, the City paid all outstanding contributions to the LAGERS pension plan.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
42
(10) 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, 2019, the fund had $13,975 net appreciation on assets available for expenditure which is
reported as restricted fund balance and $578,624 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, 2019
43
(11) 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 7 A above, 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 over 16 years up to a total of $4,800,000.
Tract I Purchase Option – Creekside Industrial
The City has granted the Developer an exclusive option for Tract I until December 31, 2025 and thereafter
extended annually subject to terms and conditions in the Agreement. The Tract I Purchase Agreement shall
set the purchase price equal to $1,600,000.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
44
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 rises to $150,000 per year. In any year
the contribution falls short, the Developer will pay the difference or the option for Tract I will lapse. In any
year the contribution from the Hotel Special Assessment falls short, or the option lapses due to 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 price.
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
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.
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2019
45
(12) Subsequent Events
The City evaluated subsequent events through August 13, 2020, the date the financial statements were
available to be issued. The following subsequent events occurred in addition to those subsequent events
discussed in Note 7 A and 7C:
On March 11, 2020, the World Health Organization declared the COVID-19 virus outbreak a world-wide
pandemic. Due to the COVID-19 pandemic, businesses within the City and the entire State of Missouri
were subject to a stay at home order. Management is closely monitoring the situation and the impact on
its operations. The ultimate effect on the City’s financial statements is not currently determinable.
The City issued its $3,995,000 Taxable Neighborhood Improvement District Limited General Obligation
Refunding Bonds (Brush Creek Drainage Area Improvement Project), Series 2020A (Series 2020A
Bonds). The proceeds of the Series 2020A Bonds, along with available City funds, will be used to (i)
refund the principal of the March 1, 2022 through March 1, 2034 maturities of the City’s Neighborhood
Improvement District Limited General Obligation Bonds (Brush Creek Drainage Area Improvement
Project), Series 2014A, dated June 11, 2014; (ii) pay the interest on the Series 2020A Bonds to and
including March 1, 2021, the anticipated call date of the Series 2014A Bonds, and (iii) pay costs of
issuance related to the Series 2020A Bonds.
The City issued its $2,730,000 Taxable Neighborhood Improvement District Limited General Obligation
Refunding Bonds (Brink Meyer Road Improvement Project), Series 2020B (Series 2020B Bonds). The
proceeds of the Series 2020B Bonds, along with available City funds, will be used to (i) refund the
principal of the March 1, 2022 through March 1, 2034 maturities of the City's Neighborhood Improvement
District Limited General Obligation Bonds (Brink Meyer Road Neighborhood Improvement District), Series
2014B, dated June 11, 2014; (ii) pay the interest on the Series 2020B Bonds to and including March 1,
2021, the anticipated call date of the Series 2014B Bonds, and (ii) pay the costs of issuance related to the
Series 2020B Bonds.
Schedule 1
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 3,244,515$ 3,244,515$ 3,159,443$ (85,072)$
Intergovernmental 84,250 490,637 506,705 16,068
Charges for services 40,825 40,825 16,169 (24,656)
Fines and forfeitures 180,000 180,000 130,596 (49,404)
Licenses and permits 352,970 352,970 570,892 217,922
Charges for sewer 230,000 230,000 230,000 -
Interest 8,400 8,400 6,620 (1,780)
Other 52,200 226,183 263,723 37,540
Total Revenues 4,193,160 4,773,530 4,884,148 110,618
Expenditures:
Current:
General government 1,382,541 1,820,673 1,682,059 138,614
Public safety 1,585,621 1,585,621 1,509,838 75,783
Public works 715,676 745,676 919,110 (173,434)
Parks and recreation 597,497 1,091,217 698,001 393,216
Community development 307,720 307,720 292,926 14,794
Total Expenditures 4,589,055 5,550,907 5,101,934 448,973
Excess of Revenues Over
(Under) Expenditures (395,895) (777,377) (217,786) 559,591
Other Financing Sources (Uses):
Transfers in 185,000 185,000 194,453 9,453
Transfers out (317,500) (317,500) (317,500) -
Sale of assets - - 410,082 410,082
Total Other Financing Sources (Uses) (132,500) (132,500) 287,035 419,535
Change in fund balance (528,395)$ (909,877)$ 69,249 979,126$
Fund Balances, Beginning of Year 1,747,951
Fund Balances, End of Year 1,817,200$
Note: GAAP is the budgetary basis used to prepare this schedule
2019
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, 2019
46
Schedule 2
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 490,135$ 490,135$ 490,501$ 366$
Intergovernmental 528,831 528,831 539,081 10,250
Other 3,400 3,400 7,550 4,150
Total Revenues 1,022,366 1,022,366 1,037,132 14,766
Expenditures:
Current:
Capital outlay 1,737,858 866,449 770,148 96,301
Total Expenditures 1,737,858 866,449 770,148 96,301
Excess of Revenues Over
(Under) Expenditures (715,492) 155,917 266,984 111,067
Other Financing Sources (Uses):
Transfers out (400,375) (1,286,784) (1,286,784) -
Total Other Financing Sources (Uses) (400,375) (1,286,784) (1,286,784) -
Change in fund balance (1,115,867)$ (1,130,867)$ (1,019,800) 111,067$
Fund Balances, Beginning of Year 1,135,327
Fund Balances, End of Year 115,527$
Note: GAAP is the budgetary basis used to prepare this schedule
2019
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, 2019
47
CITY OF PARKVILLE, MISSOURI
Notes to Required Supplementary Information
December 31, 2019
48
(1) Budgetary Data
The Board of Alderman adopted annual operating budgets for all funds except for the Veterans Memorial,
Court Recoupment Fees, Police Training Fees LET, Police Shop, TIF Development, Market Place Project
1 Development, Market Place Project 2 Development, 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
2019 2018 2017 2016 2015
Total Pension Liability
Service costs 172,547$ 148,593$ 119,807$ 116,946$ 104,714$
Interest on total pension liability 161,830 142,885 107,562 93,722 69,352
Changes in benefit terms - - 252,150 - 226,297
Difference between expected and
actual experience of the total pension liability 117,686 (16,202) 19,236 (66,469) (47,700)
Changes of assumptions - - (12,160) 79,853 -
Benefit payments and refunds (23,897) (27,488) (18,639) (31,360) (14,002)
Net change in total pension liability 428,166 247,788 467,956 192,692 338,661
Total pension liability - beginning of year 2,159,111 1,911,323 1,443,367 1,250,675 912,014
Total pension liability - end of year (a)2,587,277$ 2,159,111$ 1,911,323$ 1,443,367$ 1,250,675$
Plan Fiduciary Net Position
Contributions - employer 177,852$ 155,363$ 112,455$ 93,771$ 73,690$
Contributions - employee 77,157 68,390 62,865 61,441 60,880
Net investment income 120,889 180,098 141,948 63 17,409
Benefit payments and refunds (23,897) (27,488) (18,639) (31,360) (14,002)
Administrative expenses (5,440) (3,246) (3,626) (3,451) (3,356)
Other (net transfer) (1,855) (6,335) 1,806 (3,952) 38,126
Net change in plan fiduciary net position 344,706 366,782 296,809 116,512 172,747
Plan fiduciary net positon - beginning of year 1,781,285 1,414,503 1,117,694 1,001,182 828,435
Plan fiduciary net positon - end of year (b) $ 2,125,991 $ 1,781,285 $ 1,414,503 $ 1,117,694 $ 1,001,182
Net pension liability (a) - (b) $ 461,286 $ 377,826 $ 496,820 $ 325,673 $ 249,493
Plan net position as a percentage of the
total pension liability 82.17% 82.50% 74.01% 77.44% 80.05%
Covered employee payroll 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 23.83% 24.11% 34.09% 23.01% 17.64%
GASB 68 requires presentation of ten years. As of December 31, 2019, only five 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, 2019
Lagers
49
Schedule 4
Actuarially Covered Contribution
Fiscal Determined Contribution in Contribution Employee as
Year Contribution Relation Deficiency Payroll Percentage
2010 $ 57,366 $ 57,366 $ - $ 1,371,930 4.18%
2011 54,185 54,185 - 1,354,526 4.00%
2012 65,702 65,702 - 1,522,146 4.32%
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%
Lagers
Valuation Date
Notes:
Actuarial cost method Entry Age Normal and Modified Terminal Funding
Amortization method
Remaining amortization period Multiple bases from 15 to 20 years
Asset valuation method 5-year smoothed market; 20% corridor
Inflation assumption 3.25% wage inflation; 2.5% price inflation
Salary increases 3.25% to 6.55% including wage inflation
Investment rate of return 7.25%, 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, 2019
LAGERS (General and Police)
Both the post-retirement and pre-retirement tables were adjusted for mortality
improvement back to the observation period based 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-2015 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, 2019
The roll-forward of total pension liability from February 28, 2019 to June 30, 2019
reflects expected service cost and interest reduced by actual benefit payments and
administrative expenses.
The healthy retiree mortality tables, for post retirement mortality, were the RP-2014
Healthy Annuitant mortality table for males and females. The disabled retiree mortality
tables, for post-retirement mortality, were the RP-2014 disabled mortality table for
male and females. The pre-retirment mortality tableas used were the RP-2014
employees mortality table for male and females.
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
chagnes) is negative, then this amount is amortized over the greater of (i) the
remaining initial amortization period or (ii) 15 years.
50
Schedule 5
General Reserve
Fund Fund Totals
Assets:
Cash and investments 1,840,586$ 1,232,108$ 3,072,694$
Receivables:
Taxes 250,574 - 250,574
Accounts and other 38 - 38
Note receivable 2,000,000 - 2,000,000
Due from other governments 280,705 - 280,705
Prepaid, deposits and other assets 97,907 - 97,907
Total Assets 4,469,810$ 1,232,108$ 5,701,918$
Liabilities:
Accounts payable 163,922$ -$ 163,922$
Accrued payroll and benefits 90,257 - 90,257
Total Liabilities 254,179 - 254,179
Deferred inflows of resources:
Unavailable revenues - note receivable 2,000,000 - 2,000,000
Unavailable revenues - grants 274,802 - 274,802
Unavailable revenues - taxes 123,629 - 123,629
2,398,431 - 2,398,431
Fund balances:
Nonspendable:
Prepaid items 97,907 - 97,907
Committed:
Emergency reserve - 1,232,108 1,232,108
Unassigned 1,719,293 - 1,719,293
Total fund balances 1,817,200 1,232,108 3,049,308
Total liabilities, deferred inflows
of resources and fund balances 4,469,810$ 1,232,108$ 5,701,918$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - General Fund
December 31, 2019
51
Schedule 6
General Reserve
Fund Fund Eliminations Totals
Revenues:
Taxes 3,159,443$ -$ -$ 3,159,443$
Intergovernmental 506,705 - - 506,705
Charges for services 16,169 - - 16,169
Fines and forfeitures 130,596 - - 130,596
Licenses and permits 570,892 - - 570,892
Charges for sewer administration 230,000 - - 230,000
Interest 6,620 - - 6,620
Other 263,723 - - 263,723
Total Revenues 4,884,148 - - 4,884,148
Expenditures:
Current:
General government 1,682,059 - - 1,682,059
Public safety 1,509,838 - - 1,509,838
Public works 919,110 - - 919,110
Parks and recreation 698,001 - - 698,001
Community development 292,926 - - 292,926
5,101,934 - - 5,101,934
Excess of Revenues Over
(Under) Expenditures (217,786) - - (217,786)
Other financing sources (uses):
Transfers in 194,453 317,500 (317,500) 194,453
Transfers out (317,500) (423,471) 317,500 (423,471)
Sale of capital assets 410,082 - - 410,082
Total Other Financing Sources 287,035 (105,971) - 181,064
Change in fund balance 69,249 (105,971) - (36,722)
Fund Balances, Beginning of Year 1,747,951 1,338,079 - 3,086,030
Fund Balances, End of Year 1,817,200$ 1,232,108$ -$ 3,049,308$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
General Fund
For the Year Ended December 31, 2019
52
Schedule 7
River Certificates of Brush Brink Lease Purchase
Park Participation Creek Meyer Agreement Totals
Assets:
Restricted cash and investments 165,332$ 78,903$ 431,098$ 297,477$ -$ 972,810$
Receivables:
Special assessments 143,129 - 2,714,189 - - 2,857,318
Total Assets 308,461$ 78,903$ 3,145,287$ 297,477$ -$ 3,830,128$
Liabilities:
Due to other funds -$ -$ -$ -$ 32,954$ 32,954$
Total Liabilities - - - - 32,954 32,954
Deferred inflows of resources:
Unavailable revenues 149,445 44,451 2,732,087 - - 2,925,983
Fund balances:
Restricted:
Debt service 159,016 34,452 413,200 297,477 (32,954) 871,191
Total fund balances (deficit) 159,016 34,452 413,200 297,477 (32,954) 871,191
Total liabilities, deferred inflows
and fund balances (deficit) 308,461$ 78,903$ 3,145,287$ 297,477$ -$ 3,830,128$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Debt Service Fund
December 31, 2019
53
Schedule 8
River Certificates of Brush Brink Lease Purchase
Park Participation Creek Meyer Agreement Totals
Revenues:
Taxes -$ 416,051$ -$ -$ -$ 416,051$
Intergovernmental - - - - 126,032 126,032
Special assessments 323,923 - 251,036 1,791 - 576,750
Interest 198 98 15,632 11,406 - 27,334
Total Revenues 324,121 416,149 266,668 13,197 126,032 1,146,167
Expenditures:
Current:
General - - 2,000 2,000 - 4,000
Debt service:
Principal 305,000 354,132 220,000 150,000 302,900 1,332,032
Interest and fiscal charges 15,458 57,666 173,038 139,188 43,978 429,328
320,458 411,798 395,038 291,188 346,878 1,765,360
Excess of Revenues Over
(Under) Expenditures 3,663 4,351 (128,370) (277,991) (220,846) (619,193)
Other financing sources (uses):
Transfers in - - 140,423 283,048 215,375 638,846
Total Other Financing Sources - - 140,423 283,048 215,375 638,846
Change in fund balance 3,663 4,351 12,053 5,057 (5,471) 19,653
Fund Balances, Beginning of Year 155,353 30,101 401,147 292,420 (27,483) 851,538
Fund Balances (deficit), End of Year 159,016$ 34,452$ 413,200$ 297,477$ (32,954)$ 871,191$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
Debt Service Fund
For the Year Ended December 31, 2019
54
Schedule 9
Court Police
Park Sales Economic Nature Parks Veterans Recoupment Training Fees Police
Tax Development Sanctuary Donations Memorial Fees LET Shop
Assets
Cash and investments 39,545$ 2,390$ 77,659$ 36,923$ 13,293$ 40,376$ 38,164$ 29,384$
Receivables:
Taxes 78,968 - - - - - - -
Restricted cash and investments - - - - - - - -
Total Assets 118,513$ 2,390$ 77,659$ 36,923$ 13,293$ 40,376$ 38,164$ 29,384$
Liabilities and Fund Balances
Liabilities:
Accounts payable -$ -$ 2,200$ -$ -$ -$ -$ 8,547$
Total Liabilities - - 2,200 - - - - 8,547
Fund balances
Nonspendable:
Fewson trust - - - - - - - -
Restricted:
Capital projects - - - - - - - -
Public safety - - - - - 40,376 38,164 20,837
Parks and recreation 118,513 - 75,459 36,923 13,293 - - -
Community development - 2,390 - - - - - -
Assigned:
Capital projects - - - - - - - -
Total fund balances 118,513 2,390 75,459 36,923 13,293 40,376 38,164 20,837
Total liabilities and fund balances 118,513$ 2,390$ 77,659$ 36,923$ 13,293$ 40,376$ 38,164$ 29,384$
(Continued on Next Page)
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Non-major Governmental Funds
December 31, 2019
55
Assets
Cash and investments
Receivables:
Taxes
Restricted cash and investments
Total Assets
Liabilities and Fund Balances
Liabilities:
Accounts payable
Total Liabilities
Fund balances
Nonspendable:
Fewson trust
Restricted:
Capital projects
Public safety
Parks and recreation
Community development
Assigned:
Capital projects
Total fund balances
Total liabilities and fund balances
Schedule 9
Permanent Capital
Fund Project Fund
Market Place Market Place
TIF Project 1 Project 2 Market Place Market Place Creekside Fewson Capital
Development Development Development CID #1 CID #2 Development Project Projects Totals
12,493$ -$ 42,892$ 12,410$ 11,119$ 2,966$ -$ 849,654$ 1,209,268$
-
- - - 1,972 1,972 2,748 - - 85,660
- - - - - - 592,599 - 592,599
12,493$ -$ 42,892$ 14,382$ 13,091$ 5,714$ 592,599$ 849,654$ 1,887,527$
-$ -$ -$ -$ -$ -$ -$ 12,805$ 23,552$
- - - - - - - 12,805 23,552
- - - - - - 578,624 - 578,624
- - - - - - 13,975 13975
- - - - - - - - 99,377
- - - - - - - - 244,188
12,493 - 42,892 14,382 13,091 5,714 - - 90,962
- - - - - - - 836,849 836,849
12,493 - 42,892 14,382 13,091 5,714 592,599 836,849 1,863,975
12,493$ -$ 42,892$ 14,382$ 13,091$ 5,714$ 592,599$ 849,654$ 1,887,527$
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Non-major Governmental Funds
December 31, 2019
56
Schedule 10
Court Police
Park Sales Economic Nature Parks Veterans Recoupment Training Fees Police
Tax Development Sanctuary Donations Memorial Fees LET Shop
Revenues:
Taxes 118,513$ 1,875$ -$ -$ -$ -$ -$ -$
Intergovernmental - - - - - - - -
Charges for services - - - - - 635 - -
Interest - - - - - - - -
Grants and donations - - 6,033 26,295 11,218 - - 17,824
Other - - 1,500 - - - - -
Total Revenues 118,513 1,875 7,533 26,295 11,218 635 - 17,824
Expenditures:
Current:
Public safety - - - - - - - 9,593
Parks and recreation - - 6,054 - 4,625 544 2,048 -
Community development - 1,001 - - - - - -
Capital outlay - - - - - - - -
- 1,001 6,054 - 4,625 544 2,048 9,593
Excess of Revenues
Over (Under) Expenditures 118,513 874 1,479 26,295 6,593 91 (2,048) 8,231
Other financing sources (uses):
Transfers in - - - - - - - -
Transfers out - - - - - - - -
Total Other Financing
Sources (Uses)- - - - - - - -
Change in fund balance 118,513 874 1,479 26,295 6,593 91 (2,048) 8,231
Fund Balances, Beginning of Year - 1,516 73,980 10,628 6,700 40,285 40,212 12,606
Fund Balances, End of Year 118,513$ 2,390$ 75,459$ 36,923$ 13,293$ 40,376$ 38,164$ 20,837$
(Continued on Next Page)
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance
For the Year Ended December 31, 2019
Special Revenue Funds
57
Revenues:
Taxes
Intergovernmental
Charges for services
Interest
Grants and donations
Other
Total Revenues
Expenditures:
Current:
Public safety
Parks and recreation
Community development
Capital outlay
Excess of Revenues
Over (Under) Expenditures
Other financing sources (uses):
Transfers in
Transfers out
Total Other Financing
Sources (Uses)
Change in fund balance
Fund Balances, Beginning of Yea
Fund Balances, End of Year
Permanent Capital
Fund Project Fund
Market Market
TIF Place Place Market Place Market Place Creekside Fewson Capital
Development Project 1 Project 2 CID #1 CID #2 Development Project Projects Totals
298,924$ -$ 18,072$ 27,043$ 27,043$ 5,714$ -$ -$ 497,184$
181,300 - - - - - - 9,828 191,128
- - - - - - - - 635
12 9 - - - - 10,014 - 10,035
- - - - - - - - 61,370
- - - - - - - - 1,500
480,236 9 18,072 27,043 27,043 5,714 10,014 9,828 761,852
- - - - - - - - 9,593
- - - - - - - - 13,271
480,224 - - 251 1,542 - - - 483,018
- - - - - - - 267,085 267,085
480,224 - - 251 1,542 - - 267,085 772,967
12 9 18,072 26,792 25,501 5,714 10,014 (257,257) (11,115)
- - 24,820 - - - - 886,409 911,229
- (9,453) - (12,410) (12,410) - - - (34,273)
- (9,453) 24,820 (12,410) (12,410) - - 886,409 876,956
12 (9,444) 42,892 14,382 13,091 5,714 10,014 629,152 865,841
12,481 9,444 - - - - 582,585 207,697 998,134
12,493$ -$ 42,892$ 14,382$ 13,091$ 5,714$ 592,599$ 836,849$ 1,863,975$
Schedule 10
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance
For the Year Ended December 31, 2019
Special Revenue Funds
58
Schedule 11
Variance with
2019 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes -$ -$ -$ -$
Total Revenues - - - -
Total Expenditures - - - -
Excess of Revenues Over Expenditures - - - -
Other financing sources (uses):
Transfers in 317,500 317,500 317,500 -
Transfers out (431,434) (431,434) (423,471) 7,963
Total Other Financing Sources (Uses) (113,934) (113,934) (105,971) 7,963
Change in fund balance (113,934)$ (113,934)$ (105,971) 7,963$
Fund Balance, Beginning of Year 1,338,079
Fund Balance, End of Year 1,232,108$
CITY OF PARKVILLE, MISSOURI
For the Year Ended December 31, 2019
Fund Balance - Budget and Actual
Schedule of Revenues, Expenditures and Changes in
Reserve Fund
59
Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance Positive
(Negative)
Revenues:
Taxes -$ -$ -$ 416,409$ 416,051$ (358)$ -$ -$ -$
Intergovernmental - - - - - - - - -
Special assessments 322,080 323,923 1,843 - - - 251,036 251,036 -
Interest 150 198 48 110 98 (12) 6,600 15,632 9,032
Total Revenues 322,230 324,121 1,891 416,519 416,149 (370) 257,636 266,668 9,032
Expenditures:
Current:
General - - - - - 2,130 2,000 130
Debt service:
Principal 305,000 305,000 - 354,132 354,132 - 220,000 220,000 -
Interest and fiscal charges 20,574 15,458 5,116 58,766 57,666 1,100 173,038 173,038 -
Total Expenditures 325,574 320,458 5,116 412,898 411,798 1,100 395,168 395,038 130
Excess of Revenues Over
(Under) Expenditures (3,344) 3,663 7,007 3,621 4,351 730 (137,532) (128,370) 9,162
Other financing sources (uses):
Transfers in - - - 4,366 - 4,366 135,402 140,423 (5,021)
Total Other Financing Sources (Uses)- - - 4,366 - 4,366 135,402 140,423 (5,021)
Change in fund balance (3,344)$ 3,663 7,007$ 7,987$ 4,351 5,096$ (2,130)$ 12,053 4,141$
Fund Balance, Beginning of Year 155,353 30,101 401,147
Fund Balance (deficit), End of Year 159,016$ 34,452$ 413,200$
(Continued on Next Page)
Schedule 12
River Park Certificates of Participation Brush Creek
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
For the Year Ended December 31, 2019
Fund Balance - Budget and Actual
Debt Service Funds
60
Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative)
Revenues:
Taxes -$ -$ -$ -$ -$ -$ 416,409$ 416,051$ (358)$
Intergovernmental - - - 131,504 126,032 (5,472) 131,504 126,032 (5,472)
Special assessments 1,791 1,791 - - - - 574,907 576,750 1,843
Interest 4,750 11,406 6,656 - - - 11,610 27,334 15,724
Total Revenues 6,541 13,197 6,656 131,504 126,032 (5,472) 1,134,430 1,146,167 11,737
Expenditures:
Current:
General 2,000 2,000 - - - - 4,130 4,000 130
Debt service:
Principal 150,000 150,000 - 302,900 302,900 - 1,332,032 1,332,032 -
Interest and fiscal charges 139,283 139,188 95 43,979 43,978 1 435,640 429,328 6,312
Total Expenditures 291,283 291,188 95 346,879 346,878 1 1,771,802 1,765,360 6,442
Excess of Revenues Over
(Under) Expenditures (284,742) (277,991) 6,751 (215,375) (220,846) (5,471) (637,372) (619,193) 18,179
Other financing sources (uses):
Transfers in 282,742 283,048 306 215,375 215,375 - 637,885 638,846 961
Total Other Financing Sources (Uses)282,742 283,048 306 215,375 215,375 - 637,885 638,846 961
Change in fund balance (2,000)$ 5,057 7,057$ -$ (5,471) (5,471)$ 513$ 19,653 19,140$
Fund Balance, Beginning of Year 292,420 (27,483) 851,538
Fund Balance (deficit), End of Year 297,477$ (32,954)$ 871,191$
Brink Meyer Lease Purchase Agreement Totals
Schedule 12
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
For the Year Ended December 31, 2019
Fund Balance - Budget and Actual
Debt Service Funds
61
Schedule 13
Variance with
2019 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 1,500$ 1,500$ 1,875$ 375$
Total Revenues 1,500 1,500 1,875 375
Expenditures:
Community development 2,000 2,000 1,001 999
Total Expenditures 2,000 2,000 1,001 999
Change in fund balance (500)$ (500)$ 874 1,374$
Fund Balance, Beginning of Year 1,516
Fund Balance, End of Year 2,390$
CITY OF PARKVILLE, MISSOURI
Economic Development
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2019
62
Schedule 14
Variance with
2019 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Grants and donations 11,750$ 11,750$ 6,033$ (5,717)$
Other 1,500 1,500 1,500 -
Total Revenues 13,250 13,250 7,533 (5,717)
Expenditures:
Parks and recreation 12,500 12,500 6,054 6,446
Total Expenditures 12,500 12,500 6,054 6,446
Change in fund balance 750$ 750$ 1,479 729$
Fund Balance, Beginning of Year 73,980
Fund Balance, End of Year 75,459$
CITY OF PARKVILLE, MISSOURI
Nature Sanctuary
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2019
63
Schedule 15
Variance with
2019 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Grants and donations 27,500$ 27,500$ 26,295$ (1,205)$
Total Revenues 27,500 27,500 26,295 (1,205)
Expenditures:
Parks and recreation 30,000 30,000 - 30,000
Total Expenditures 30,000 30,000 - 30,000
Change in fund balance (2,500)$ (2,500)$ 26,295 28,795$
Fund Balance, Beginning of Year 10,628
Fund Balance, End of Year 36,923$
CITY OF PARKVILLE, MISSOURI
Parks Donations
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2019
64
Schedule 16
Variance with
2019 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Interest 5,000$ 5,000$ -$ (5,000)$
Grants and donations 250,000 250,000 11,218 (238,782)
Total Revenues 255,000 255,000 11,218 (243,782)
Expenditures:
Parks and recreation 240,000 - 4,625 (4,625)
Total Expenditures 240,000 - 4,625 (4,625)
Change in fund balance 15,000$ 255,000$ 6,593 (248,407)$
Fund Balance, Beginning of Year 6,700
Fund Balance, End of Year 13,293$
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, 2019
65
Schedule 17
Variance with
2019 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Interest 4,750$ 4,750$ 10,014$ 5,264$
Total Revenues 4,750 4,750 10,014 5,264
Expenditures:
General government - - - -
Total Expenditures - - - -
Excess of Revenues Over Expenditures 4,750 4,750 10,014 5,264
Other financing sources (uses):
Transfers out 11,601 11,601 - (11,601)
Total Other Financing Sources (Uses) 11,601 11,601 - (11,601)
Change in fund balance 16,351$ 16,351$ 10,014 (6,337)$
Fund Balance, Beginning of Year 582,585
Fund Balance, End of Year 592,599$
For the Year Ended December 31, 2019
Fund Balance - Budget and Actual
Fewson Fund
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
66
Schedule 18
Variance with
2019 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental -$ -$ 9,828$ 9,828$
Grants and donations 46,000 46,000 - (46,000)
Total Revenues 46,000 46,000 9,828 (36,172)
Expenditures:
Capital outlay 35,000 921,409 267,085 654,324
Total Expenditures 35,000 921,409 267,085 654,324
Excess of Revenues Over Expenditures 11,000 (875,409) (257,257) 618,152
Other financing sources (uses):
Transfers in - 886,409 886,409 -
Total Other Financing Sources (Uses)- 886,409 886,409 -
Change in fund balance 11,000$ 11,000$ 629,152 618,152$
Fund Balance, Beginning of Year 207,697
Fund Balance, End of Year 836,849$
CITY OF PARKVILLE, MISSOURI
Capital Projects
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2019
67