HomeMy Public PortalAbout2021 AuditCity of Parkville, Missouri
Basic Financial Statements
With
Independent Auditor’s Report
For the Year Ended
December 31, 2021
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CITY OF PARKVILLE, MISSOURI
TABLE OF CONTENTS
Page
Independent Auditor’s Report 1-3
Management’s Discussion and Analysis 4-11
Basic Financial Statements:
Exhibit
Government-wide Financial Statements:
Statement of Net Position A 12
Statement of Activities B 13
Fund Financial Statements:
Balance Sheet – Governmental Funds C 14
Reconciliation of the Balance Sheet - Governmental Funds to
the Statement of Net Position 15
Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental Funds D 16
Reconciliation of the Statement of Revenues, Expenditures and Changes
in Fund Balances – Governmental Funds to the Statement of Activities 17
Statement of Net position – Proprietary Fund E 18
Statement of Revenues, Expenses and Changes in Fund Net Position –
Proprietary Fund F 19
Statement of Cash Flows - Proprietary Fund G 20
Statement of Fiduciary Net Position – Fiduciary Fund H 21
Statement of Changes in Fiduciary Net Position – Fiduciary Fund I 22
Notes to the Basic Financial Statements 23-46
Schedule Page
Required Supplementary Information:
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – General Fund 1 47
Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – Transportation Sales Tax Fund 2 48
Notes to Required Supplementary Information 49
Schedule of Changes in Net Pension Liability and Related Ratios 3 50
Schedule of Employer Contributions 4 51
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CITY OF PARKVILLE, MISSOURI
TABLE OF CONTENTS, Continued
Schedule Page
Other Supplementary Information
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet – General Fund 5 52
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – General Fund 6 53
Combining Balance Sheet – Debt Service Funds 7 54
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Debt Service Funds 8 55
Combining Balance Sheet – Non-major Governmental Funds 9 56-57
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Non-major Governmental Funds 10 58-59
Combining Balance Sheet – Creekside Development Funds 11 60
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Creekside Development Funds 12 61
Schedules of Revenues, Expenditures and Changes in Fund Balances –
Budget and Actual –
Debt Service Funds 13 62-63
Park Sales Tax Fund 14 64
Economic Development Fund 15 65
Nature Sanctuary Fund 16 66
Parks Donation Fund 17 67
Veterans Memorial Fund 18 68
ARPA Fund 19 69
Fewson Fund 20 70
Capital Projects Fund 21 71
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INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and
Board of Aldermen
City of Parkville, Missouri
Report on the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund, and the aggregate remaining fund information of the City of Parkville, Missouri (the
City), as of and for the year ended December 31, 2021, and the related notes to the financial statements,
which collectively comprise the City’s basic financial statements as listed in the table of contents.
In our opinion, based on our audit and the report of other auditors, the financial statements referred to above
present fairly, in all material respects, the respective financial position of the governmental activities, the
business-type activities, the aggregate discretely presented component units, each major fund, and the
aggregate remaining fund information of the City, as of December 31, 2021, and the respective changes in
financial position, and, where applicable, cash flows thereof for the year then ended in conformity with
accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States of America. Our responsibilities under those standards are
further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our
report. We are required to be independent of the City of Parkville, Missouri and to meet our other ethical
responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair presentation
of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City of Parkville, Missouri's ability
to continue as a going concern within one year after the date that the financial statements are available to be
issued.
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Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not
a guarantee that an audit conducted in accordance with generally accepted auditing standards and
Government Auditing Standards will always detect a material misstatement when it exists. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements, including omissions, are considered material if there is a substantial likelihood that,
individually or in the aggregate, they would influence the judgment made by a reasonable user based on the
financial statements.
In performing an audit in accordance with generally accepted auditing standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the City of Parkville, Missouri's internal control. Accordingly, no such opinion is
expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the City of Parkville, Missouri's ability to continue as a going concern for
a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control related matters
that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis and required supplementary information listed in the table of contents be presented
to supplement the basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential
part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted of
inquiries of management about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or
provide any assurance on the information because the limited procedures do not provide us with sufficient
evidence to express an opinion or provide any assurance.
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Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The introductory section, combining and individual nonmajor
fund financial statements and schedules, and statistical section are presented for purposes of additional
analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and schedules are the responsibility of
management and were derived from and related directly to the underlying accounting and other records used
to prepare the basic financial statements. Such information has been subjected to the auditing procedures
applied in the audit of the basic financial statements and certain additional procedures, including comparing
and reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our opinion, the
combining and individual nonmajor fund financial statements and schedules are fairly stated in all material
respects in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the
audit of the basic financial statements and, accordingly, we do not express an opinion or provide any
assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated September 16,
2022 on our consideration of the City’s internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The
purpose of that report is to describe the scope of our testing of internal control over financial reporting and
compliance and the results of that testing, and not to provide an opinion on internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the City’s internal control over financial reporting and
compliance.
Hood & Associates CPAs PC
Kansas City, Missouri
September 16, 2022
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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As management of the City of Parkville (the City), we offer readers of the City’s financial statements this
narrative overview and analysis of the financial activities of the City for the year ended December 31, 2021.
We encourage readers to consider the information presented here in conjunction with the basic financial
statements and the accompanying notes to those basic financial statements.
Financial Highlights
1. The assets and deferred outflows of the City of Parkville exceeded its liabilities and deferred inflows
at the close of the year by $20,342,820 (net position), an increase of $197,415 over the prior year.
2. As of the close of the current year, the City’s governmental funds showed a combined ending balance
of $5,153,343, a decrease of $7,053,316 from the prior year. The primary reason for the decrease
stems from the 2020 issuance of the $3,995,000 Series 2020A, Taxable Neighborhood Improvement
District Limited General Obligation Refunding Bonds (Brush Creek Drainage Area Neighborhood
Improvement Project) Bonds (2020A bonds) and the $2,730,000 Series 2020B, Taxable
Neighborhood Improvement District Limited General Obligation Refunding Bonds (Brink Meyer Road
Neighborhood Improvement Project) Bonds (2020B bonds). The 2020A and 2020B Bonds were
structured as a crossover advance refunding. The net proceeds of the bonds along with available
bond trust funds totaling approximately $7.2 million were deposited in trust with an escrow agent. On
March 1, 2021, (the crossover date), these funds were used to refund the Series 2014A and 2014B
Bonds as further discussed in Note 7 in the Notes to the Basic Financial Statements.
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 5. 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.
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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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 14 and provide detailed information about the most significant
funds—not the City as a whole. Some funds are required to be established by State law and by bond
covenants. The City establishes other funds to help it control and manage money for particular purposes. The
City uses three types of funds to manage its resources: governmental, proprietary, and agency funds. A fund
is a fiscal entity with a set of self-balancing accounts recording financial resources, together with all related
liabilities and residual equities and balances, and the changes therein. These accounting entities are
separated for the purpose of carrying on specific activities or attaining certain objectives in accordance with
regulations, restrictions, or limitations.
Governmental funds—Most of the City’s basic services are reported in governmental funds, which focus on
how money flows into and out of those funds and the balances left at year-end that are available for spending.
These funds are reported using an accounting method called modified accrual accounting, which measures
cash and all other financial assets that can readily be converted to cash. The governmental fund statements
provide a detailed short-term view of the City’s general government operations and the basic services it
provides. Governmental fund information helps you determine whether there are more or fewer financial
resources that can be spent in the near future to finance the City’s programs. We describe the relationship (or
differences) between governmental activities (reported in the Statement of Net Position and the Statement of
Activities) and governmental funds in the reconciliation following the fund financial statements.
Proprietary funds—When the City charges customers for the services it provides, these services are
generally reported in proprietary funds. Proprietary funds are reported in the same way that all activities are
reported in the Statement of Net Position and the Statement of Activities. In fact, the City’s sewer enterprise
fund, is the same as the business-type activities we report in the government-wide statements but provides
more detail and additional information, such as cash flows.
Fiduciary Funds—Fiduciary funds are used to account for resources held for the benefit of parties outside
the government. Fiduciary funds are not reflected in the government-wide financial statements, since the
resources of those funds are not available to support the City’s operations. The accounting used for fiduciary
funds is much like that used for proprietary funds.
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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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
2021 2020 2021 2020 2021 2020
Current and other assets 15,803,930$ 21,367,038$ 1,227,610$ 1,146,695$ 17,031,540$ 22,513,733$
Capital assets 14,573,398 14,705,767 3,611,396 3,879,314 18,184,794 18,585,081
Total assets 30,377,328 36,072,805 4,839,006 5,026,009 35,216,334 41,098,814
Deferred amount on refunding 15,325 18,292 - - 15,325 18,292
Deferred outflows - pension 302,492 429,679 - - 302,492 429,679
Total deferred outflows of resources 317,817 447,971 - - 317,817 447,971
Long-term debt 11,823,464 19,504,801 550,837 718,756 12,374,301 20,223,557
Other liabilities 1,556,566 659,094 104,210 81,634 1,660,776 740,728
Total liabilities 13,380,030 20,163,895 655,047 800,390 14,035,077 20,964,285
Deferred inflow - property taxes 279,446 371,144 - - 279,446 371,144
Deferred inflow - pension 620,173 65,951 - - 620,173 65,951
Deferred amount on refunding 256,635 - - - 256,635 -
Total deferred inflows of resources 1,156,254 437,095 - - 1,156,254 437,095
Net position:
Net investment in capital assets 9,955,376 9,265,500 3,060,559 3,160,558 13,015,935 12,426,058
Restricted 2,835,521 1,726,878 170,290 167,031 3,005,811 1,893,909
Unrestricted 3,367,964 4,927,408 953,110 898,030 4,321,074 5,825,438
Total net position 16,158,861$ 15,919,786$ 4,183,959$ 4,225,619$ 20,342,820$ 20,145,405$
Governmental Business-type
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 $20,342,820 at the close
of the year ended December 31, 2021.
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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Figure 2 – Statement of Changes in Net Position
Activities Activities Total
Revenues:
Program revenues:
Charges for services 1,107,311$ 981,167$ 1,628,972$ 1,510,656$ 2,736,283$ 2,491,823$
Operating grants and contributions 424,090 580,439 - - 424,090 580,439
Capital grants and contributions 3,520,049 1,119,458 17,663 22,571 3,537,712 1,142,029
General revenues:
Property taxes 1,969,725 1,859,760 - - 1,969,725 1,859,760
Sales taxes 3,042,926 2,567,205 - - 3,042,926 2,567,205
Franchise taxes 812,268 783,913 - - 812,268 783,913
Intergovernmental activity taxes 218,543 215,102 - - 218,543 215,102
Other taxes 6,410 1,146 - - 6,410 1,146
Gain on sale of assets 36,660 2,699,458 - - 36,660 2,699,458
Other 99,676 105,853 7,007 13,457 106,683 119,310
Total revenues 11,237,658 10,913,501 1,653,642 1,546,684 12,891,300 12,460,185
Expenses:
General government 1,649,704 1,706,346 - - 1,649,704 1,706,346
Public safety 1,564,058 1,776,629 - - 1,564,058 1,776,629
Public works 5,788,532 2,027,324 - - 5,788,532 2,027,324
Parks and recreation 1,371,621 881,126 - - 1,371,621 881,126
Community development 393,048 1,220,691 - - 393,048 1,220,691
Interest on long-term debt 231,620 603,306 - - 231,620 603,306
Sewer - 1,695,302 1,739,032 1,695,302 1,739,032
Total expenses 10,998,583 8,215,422 1,695,302 1,739,032 12,693,885 9,954,454
Change in net position 239,075 2,698,079 (41,660) (192,348) 197,415 2,505,731
Net position, beginning 15,919,786 13,221,707 4,225,619 4,417,967 20,145,405 17,639,674
Net position, ending 16,158,861$ 15,919,786$ 4,183,959$ 4,225,619$ 20,342,820$ 20,145,405$
20202021
Governmental Business-type
20212021 2020 2020
The City's net position increased $197,415 during the 2021 fiscal year. Of the total, governmental activities
net position increased $239,075 and business-type activities net position decreased by $41,660. Total 2021
governmental revenues increased $324,157 from 2020 primarily due to increases in capital grants and
contributions related to the Route 9 being offset by the decrease in gain on sale of assets in connection with
the Creekside Development Project recognized in 2020. Sales taxes increased $475,721 primarily resulting
increased economic activity. Total governmental activities expenses increased $2,783,161. The increase is
primarily related to public works related to the Route 9 expenses.
Total 2021 business-type activities charges for services revenues increased $118,316 from 2020. Total
business-type expenses decreased $43,730 from 2020 primarily resulting from decreases in line maintenance
and repairs.
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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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 $5,153,343. Of this amount $4,545,495 is non-spendable,
restricted, committed or assigned for various purposes and $607,848 is unassigned.
The General Fund is the main operating fund of the City. At the end of the current fiscal year the general fund
balance was $2,074,411. 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 12.3% of total general fund
expenditures. Included in the general fund’s committed fund balance is the City’s emergency reserve fund
which totaled $1,332,108 at December 31, 2021.
The City’s fund balance of the general fund decreased $248,616 during the current fiscal year. General Fund
revenues increased by $252,756 from 2020 primarily related to increases in tax revenues of $290,657
exceeding the decrease of $162,435 in intergovernmental grants. 2021 General Fund expenditures were
approximately $129,470 more than 2020 primarily due to public safety expenditures.
At December 31, 2021, the Transportation Sales Tax Fund has an ending fund balance of $291,845. The fund
balance increased $194,963 during the year mainly due to a transfer in from the ARPA fund.
The Debt Service Fund has a total fund balance of $37,511, all of which is restricted for the payment of
principal, interest, and fees. The fund balance decreased by $7,219,806 during the year primarily due to the
2020 issuance of the Series 2020A and Series 2020B crossover refunding bonds discussed above.
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 $4,183,959 of
which $953,110 is unrestricted. The sewer fund’s net position decreased by $41,660 from the prior year.
General Fund Actual to Budget Analysis
Actual revenues were over budgeted revenues by $352,819 primarily related to intergovernmental and
licenses and permits revenues. Actual expenditures were $443,395 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.
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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Capital Asset and Debt Administration
Capital Assets
At the end of year, the City had $18,184,794 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 decrease of $400,287 from last year as current year capital asset
additions primarily related to contributed infrastructure assets exceeded depreciation expense.
City of Parkville, Missouri
Capital Assets (Net of Depreciation)
Additional information on the City’s capital assets can be found in Note 6 in the Notes to the Basic
Financial Statements.
2021 2020 2021 2020 2021 2020
Land 2,719,880$ 2,719,880$ 59,975$ 59,975$ 2,779,855$ 2,779,855$
Buildings and improvements 3,046,241 3,100,638 1,163,735 1,351,289 4,209,976 4,451,927
Equipment and vehicles 382,095 386,501 4,926 10,356 387,021 396,857
Infrastructure 8,425,182 8,498,748 2,382,760 2,457,694 10,807,942 10,956,442
Total 14,573,398$ 14,705,767$ 3,611,396$ 3,879,314$ 18,184,794$ 18,585,081$
Total
Governmental Business-Type
Activities Activities
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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Long-Term Obligations - At the end of the current fiscal year, the City had total long-term obligations
outstanding of $12,093,803.
City of Parkville, Missouri
Outstanding Debt
2021 2020 2021 2020 2021 2020
Limited General Obligation
Bonds (plus premium) 6,725,000$ 14,648,038$ -$ -$ 6,725,000$ 14,648,038$
Certificates of Participation 4,736,126 2,035,521 - - 4,736,126 2,035,521
Lease purchase agreement - 1,626,900 - - - 1,626,900
Compensated Absences 81,840 84,048 - - 81,840 84,048
Revenue Bonds (plus premium) - 550,837 718,756 550,837 718,756
Total 11,542,966$ 18,394,507$ 550,837$ 718,756$ 12,093,803$ 19,113,263$
Total
Governmental Business-Type
Activities Activities
The governmental activities decreased by $6,851,541 and the business-type activities decreased $167,919.
As discussed previously, the decrease in governmental activities debt relates to the 2020 issuance of the
Series 2020A and Series 2020B crossover refunding bonds. The crossover refunding occurred March 1,
2021.
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 2022 revenues and expenditure budgets at or near
2021 levels. The 2022 budget maintains essential services at current levels and directs limited additional
resources toward the 2023 Priorities as established by the Board of Aldermen in August 2022. 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 and 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 2021 and 2022. 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.
The City received $1,445,188 in American Rescue Plan funds. Half of these funds were distributed in 2021
with the remainder received in 2022. Amongst the eligible use of these funds is the replacement of lost public
sector revenue due to the pandemic. The City is considering using a portion of these funds to offset eligible
expenses in the General Fund and Transportation Fund, which will improve the City’s budgetary performance.
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CITY OF PARKVILLE, MISSOURI
MANAGEMENT’S DISCUSSION AND ANALYSIS
December 31, 2021
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Contacting the City’s Financial Management
This report is designed to provide our citizens, taxpayers, customers and creditors with a general overview of
the City’s finances and to demonstrate the City’s accountability for the money it receives. If you have
questions about this report or need additional financial information, contact the City Clerk’s office, Parkville,
Missouri.
Page 182 of 339
Exhibit A
Governmental Business-type
Activities Activities Total
Assets
Cash and investments 4,111,744$ 840,188$ 4,951,932$
Receivables:
Taxes 562,296 - 562,296
Special assessments 2,355,314 - 2,355,314
Accounts and other - 203,647 203,647
Creekside receivables 5,600,000 - 5,600,000
Due from other governments 2,222,638 - 2,222,638
Prepaids, deposits, and other assets 134,455 - 134,455
Restricted assets:
Cash and investments 817,483 183,775 1,001,258
Capital assets:
Not being depreciated 2,719,880 59,975 2,779,855
Being depreciated, net of depreciation 11,853,518 3,551,421 15,404,939
Total assets 30,377,328 4,839,006 35,216,334
Deferred Outflows of Resources
Deferred amount on refunding 15,325 - 15,325
Deferred outflow - pension related activity 302,492 - 302,492
Total deferred outflows of resources 317,817 - 317,817
Liabilities
Accounts payable 930,067 75,846 1,005,913
Accrued payroll and benefits 109,589 2,004 111,593
Accrued interest 69,316 12,875 82,191
Unearned revenue 447,594 - 447,594
Payable from restricted assets:
Customer deposits - 13,485 13,485
Long term debt:
Due within one year 1,331,943 165,000 1,496,943
Due in more than one year 10,211,023 385,837 10,596,860
Net pension liability 280,498 - 280,498
Total liabilities 13,380,030 655,047 14,035,077
Deferred Inflows of Resources
Deferred inflow - property taxes 279,446 - 279,446
Deferred inflow - pension related activity 620,173 - 620,173
Deferred amount on refunding 256,635 - 256,635
Total deferred inflows of resources 1,156,254 - 1,156,254
Net Position
Net investment in capital assets 9,955,376 3,060,559 13,015,935
Restricted :
Capital projects 313,422 - 313,422
Debt service 37,511 170,290 207,801
Public safety 100,343 - 100,343
Parks and recreation 979,035 - 979,035
Community development 825,614 - 825,614
Fewson trust (non-expendable) 579,596 - 579,596
Unrestricted 3,367,964 953,110 4,321,074
Total net position 16,158,861$ 4,183,959$ 20,342,820$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Net Position
December 31, 2021
Primary Government
12
Page 183 of 339
Exhibit B
Net (Expense) Revenue and Changes in Net Position
Operating Capital
Charges for Grants and Grants and Governmental Business-Type
Functions/Programs Expenses Services Contributions Contributions Activities Activities Total
Primary government:
Governmental activities
General government 1,649,704$ 993,744$ -$ -$ (655,960)$ -$ (655,960)$
Public safety 1,564,058 66,310 20,464 - (1,477,284) - (1,477,284)
Public works 5,788,532 14,782 290,222 3,378,652 (2,104,876) - (2,104,876)
Parks and recreation 1,371,621 32,475 113,404 16,000 (1,209,742) - (1,209,742)
Community development 393,048 - - 125,397 (267,651) - (267,651)
Interest on long-term debt 231,620 - - - (231,620) - (231,620)
Total governmental activities 10,998,583 1,107,311 424,090 3,520,049 (5,947,133) - (5,947,133)
Business-type activities
Sewer 1,695,302 1,628,972 - 17,663 - (48,667) (48,667)
Total business-type activities 1,695,302 1,628,972 - 17,663 - (48,667) (48,667)
Total primary government 12,693,885$ 2,736,283$ 424,090$ 3,537,712$ (5,947,133) (48,667) (5,995,800)
General revenues:
Taxes:
Property taxes, levied for general purpose 1,517,909 - 1,517,909
Property taxes, levied for debt service 451,816 - 451,816
Sales taxes 3,042,926 - 3,042,926
Franchise taxes 812,268 - 812,268
Intergovernmental activity taxes 218,543 - 218,543
Other taxes 6,410 - 6,410
Unrestricted investment earnings 6,848 1,462 8,310
Gain on sale of assets 36,660 - 36,660
Miscellaneous 92,828 5,545 98,373
Total general revenues 6,186,208 7,007 6,193,215
Change in net position 239,075 (41,660) 197,415
Net position, beginning of year 15,919,786 4,225,619 20,145,405
Net position, end of year 16,158,861$ 4,183,959$ 20,342,820$
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, 2021
13
Page 184 of 339
Exhibit C
Transportation Capital Nonmajor Total
Sales Tax Debt Service Projects Governmental Governmental
General Fund Fund Fund Funds Funds
Assets
Cash and investments 1,663,631$ 176,874$ -$ -$ 2,271,239$ 4,111,744$
Receivables:
Taxes 314,172 102,543 - - 145,581 562,296
Special assessments - - 2,355,314 - - 2,355,314
Accounts and other - - - - - -
Creekside receivables 5,600,000 - - - - 5,600,000
Due from other governments 131,147 13,486 - 2,078,005 - 2,222,638
Due from other funds 435,953 - - - - 435,953
Prepaids, deposits and other assets 134,455 - - - - 134,455
Restricted cash and investments - - 216,310 - 601,173 817,483
Total Assets 8,279,358$ 292,903$ 2,571,624$ 2,078,005$ 3,017,993$ 16,239,883$
Liabilities
Accounts payable 165,941$ 1,058$ -$ 698,834$ 64,234$ 930,067$
Accrued payroll and benefits 109,589 - - - - 109,589
Unearned revenue - - - - 447,594 447,594
Due to other funds - - 67,279 368,674 - 435,953
Total Liabilities 275,530 1,058 67,279 1,067,508 511,828 1,923,203
Deferred inflows of resources
Unavailable revenues:
Creekside receivables 5,600,000 - - - - 5,600,000
Grants 124,563 - - 767,086 - 891,649
Special assessments and
property taxes 204,854 - 2,466,834 - - 2,671,688
5,929,417 - 2,466,834 767,086 - 9,163,337
Fund balances:
Nonspendable:
Prepaid items 134,455 - - - - 134,455
Fewson trust - - - - 579,596 579,596
Restricted:
Capital projects - 291,845 - - 21,577 313,422
Debt service - - 37,511 - - 37,511
Public safety - - - - 100,343 100,343
Parks and recreation - - - - 979,035 979,035
Community development - - - - 825,614 825,614
Committed:
Emergency reserve 1,332,108 - - - - 1,332,108
Assigned:
Capital projects - - - 243,411 - 243,411
Unassigned 607,848 - - - - 607,848
Total fund balance 2,074,411 291,845 37,511 243,411 2,506,165 5,153,343
Total liabilities, deferred inflows
of resources and fund balances 8,279,358$ 292,903$ 2,571,624$ 2,078,005$ 3,017,993$ 16,239,883$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Balance Sheet - Governmental Funds
December 31, 2021
14
Page 185 of 339
Exhibit C
Continued
Fund balances of governmental funds 5,153,343$
7,992,242
14,573,398
(241,310)
(317,681)
(69,316)
(280,498)
Long-term liabilities (11,542,966)
Net position of governmental activities 16,158,861$
See accompanying notes to the basic financial statements
The issuance of long-term debt provides current financial resources to
governmental funds, while the repayment of the principal of long-term debt
consumes the current financial resources of governmental funds. Neither
transaction has any effect on net position. Also, governmental funds report the
effect of premiums, discounts and similar items when debt is first issued, whereas
these amounts are deferred and amortized in the statement of activities. This
amount isthe net effect of these differencesin the treatment of long-term debt and
related items:
Deferred amounts on refunding are not due or payable in the current period and
therefore are not reported in the governmental fund statements
Deferred outflows and inflows related to pension activity are not required to be
reported in the governmental funds but are required to be reported in the
Statement of Net Position
The net pension liability is not due and payable and therefore is not recorded in the
governmental fund statements.
Long-term note receivable 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.
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, 2021
Capital assets used in governmental activities are not financial resources and
therefore are not reported in the governmental fund statements.
15
Page 186 of 339
Exhibit D
Transportation Capital Nonmajor Total
Sales Tax Debt Service Projects Governmental Governmental
General Fund Fund Fund Funds Funds
Revenues:
Taxes 3,386,895$ 561,963$ 451,816$ -$ 1,430,654$ 5,831,328$
Intergovernmental 212,096 514,592 125,504 1,594,180 494,603 2,940,975
Charges for services 30,885 - - - - 30,885
Fines and forfeitures 66,311 - - - - 66,311
Licenses and permits 589,564 - - - - 589,564
Special assessments - - 237,610 - 125,397 363,007
Grants and donations - 1,293 - - 67,315 68,608
Charges for sewer administration 350,000 - - - - 350,000
Interest 4,623 - 257 - 1,968 6,848
Other 146,957 16,425 - 13,000 4,724 181,106
Total Revenues 4,787,331 1,094,273 815,187 1,607,180 2,124,661 10,428,632
Expenditures:
Current:
General government 1,581,586 - - - - 1,581,586
Public safety 1,666,975 - - - 22,915 1,689,890
Public works 801,362 - - - - 801,362
Parks and recreation 494,981 - - - 880,222 1,375,203
Community development 384,483 - - - 21,481 405,964
Capital outlay - 699,245 - 4,042,497 - 4,741,742
Debt service:-
Principal - - 9,600,709 - 9,600,709
Interest and fiscal charges - - 328,270 86,664 - 414,934
Total Expenditures 4,929,387 699,245 9,928,979 4,129,161 924,618 20,611,390
Excess of Revenues Over (Under) Expenditures (142,056) 395,028 (9,113,792) (2,521,981) 1,200,043 (10,182,758)
Other financing sources (uses):
Transfers in 216,200 200,000 1,893,986 89,300 44,923 2,444,409
Transfers out (359,420) (400,065) - (1,323,801) (361,123) (2,444,409)
Sale of assets 36,660 - - - - 36,660
Issuance of Certificates of Participation - - - 2,985,000 - 2,985,000
Issuance premium - - - 107,782 - 107,782
Total Other Financing Sources (Uses) (106,560) (200,065) 1,893,986 1,858,281 (316,200) 3,129,442
Net change in fund balances (248,616) 194,963 (7,219,806) (663,700) 883,843 (7,053,316)
Fund balances, beginning of year 2,323,027 96,882 7,257,317 907,111 1,622,322 12,206,659
Fund balances, end of year 2,074,411$ 291,845$ 37,511$ 243,411$ 2,506,165$ 5,153,343$
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, 2021
16
Page 187 of 339
Exhibit D
(continued)
Amounts reported for governmental activities in the Statement of Activities are
different because:
Net change in fund balances - total governmental funds (7,053,316)$
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 215,617
Depreciation (537,428)
Donated capital assets 189,442
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 582,924
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 9,600,709
Proceeds from debt (2,985,000)
Preimium (107,782)
Changes in unamortized bond issuance premium and
deferred amounts on refunding 81,804
Changes in accrued interest expense 101,510
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 liability 150,595
Change in net position of governmental activities 239,075$
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, 2021
Governmental Funds to the Statement of Activities
17
Page 188 of 339
Exhibit E
Sewer
Fund
Assets
Current assets:
Cash and investments 840,188$
Receivables, net:
Accounts and other 203,647
Restricted cash and investments 183,775
Total current assets 1,227,610
Noncurrent assets:
59,975
3,551,421
Total noncurrent assets 3,611,396
Total assets 4,839,006
Liabilities
Current liabilities:
Accounts payable 75,846
Accrued liabilities 2,004
Current liabilities (payable from restricted assets):
Customer deposits 13,485
Interest payable 12,875
Current portion of bonds payable 165,000
Total current liabilities: 269,210
Long-term liabilities:
Bonds payable 385,837
Total long-term liabilities: 385,837
Total liabilities 655,047
Net position
Net investment in capital assets 3,060,559
Restricted net position for:
Debt service 170,290
Unrestricted 953,110
Total net position 4,183,959$
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, 2021
Capital assets:
Not being depreciated
18
Page 189 of 339
Exhibit F
Sewer
Fund
Operating revenues:
Charges for services 1,628,972$
Other 5,545
Total operating revenues 1,634,517
Operating expenses:
Personnel services 45,482
Contractual services 355,482
Administrative fee 350,000
Depreciation 267,918
Repairs and maintenance 622,043
Other 33,666
Total operating expenses 1,674,591
Operating income (loss) (40,074)
Nonoperating revenues (expenses):
Intergovernmental revenues 17,663
Interest income 1,462
Interest expense (20,711)
Total nonoperating revenues (expenses) (1,586)
Change in net position (41,660)
Total net position, beginning of year 4,225,619
Total net position, end of year 4,183,959$
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, 2021
19
Page 190 of 339
Exhibit G
Sewer
Fund
Cash flows from operating activities:
Receipts from customers and others 1,612,045$
Payments to suppliers (1,334,831)
Payments to employees (45,066)
Net cash provided by (used in) operating activities 232,148
Cash flows provided by noncapital financing activities:
Intergovernmental revenues 17,663
Net cash flows provided by noncapital financing activities 17,663
Cash flows from investing activities:
Interest received 1,462
Net cash flows provided by investing activities 1,462
Cash flows from capital
and related financing activities:
Interest and fiscal charges (32,830)
Principal payments on long-term debt (160,000)
Net cash flows provided by (used in) capital
and related financing activities (192,830)
Net change in cash and equivalents 58,443
Cash and equivalents, beginning of year 965,520
Cash and equivalents, end of year 1,023,963$
Cash and investments reported on the
Statement of Net Position
Cash and investments 840,188$
Restricted cash and investments 183,775
Total cash and investments 1,023,963$
Reconciliation of operating income (loss) to net cash
provided by (used in) operating activities:
Operating income (loss) (40,074)$
Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operations:
Depreciation and amortization 267,918
Changes in:
Receivables (22,472)
Accounts payable 26,360
Accrued liabilities 416
Net cash provided by (used in) operating activities 232,148$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Cash Flows
Proprietary Fund
For the Year Ended December 31, 2021
20
Page 191 of 339
Exhibit H
Custodial Fund
Municipal
Court
Assets
Cash and investments 12,384$
Total assets 12,384
Liabilities
Due to others 12,384
Total liabilities 12,384
Net Position -$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Fiduciary Net Position
Fiduciary Fund
December 31, 2021
21
Page 192 of 339
Exhibit I
Custodial Fund
Municipal
Court
Additions
Deposits 64,711$
Total Additions 64,711
Deductions
Payments to others 64,711
Total deductions 64,711
Net changes in fiduciary net position -
Net position - beginning -
Net position - ending -$
See accompanying notes to the basic financial statements
CITY OF PARKVILLE, MISSOURI
Statement of Changes in Fiduciary Net Position
Fiduciary Fund
For the Year Ended December 31, 2021
22
Page 193 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
23
(1) Summary of Significant Accounting Policies
The City of Parkville, Missouri (the City) was incorporated on February 6, 1957. The City is a fourth class
city and operates under a Mayor-Board of Aldermen form of government. The City Administrator is the chief
administrative officer of the City. The City provides services to approximately 7,200 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.
Page 194 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
24
Fund financial statements
Fund financial statements report detailed information about the City. The focus of governmental and
proprietary fund financial statements is on major funds rather than reporting funds by type. Each major
fund is presented in a separate column. Non-major funds are aggregated and presented in a single column.
GOVERNMENTAL FUNDS
Governmental Funds are those through which most governmental functions of the City are financed. The
acquisition, use, and balances of the City’s expendable financial resources and the related liabilities (other
than those in Proprietary Funds) are accounted for through Governmental Funds. The measurement focus
is upon determination of financial position and changes in financial position, rather than upon net income
determination.
The following are the City’s major governmental funds:
General Fund – the general fund of the City accounts for all financial transactions not accounted for in other
funds. For financial reporting purposes, the City’s Emergency Reserve Fund’s activities are included in the
General Fund.
Transportation Sales Tax Fund – This fund is used to account for revenues restricted for transportation
purposes including the half-percent transportation sales taxes collected and a county tax distribution for
capital improvements and the expenditures for the related items.
Debt Service Funds – This fund accounts for the accumulation of resources for, and the payment of,
principal and interest on long-term obligations of the City.
Capital Projects Fund – This fund is used to account for major capital improvement projects.
The City reports the following fund types of nonmajor funds:
Special Revenue Funds - These funds account for specific revenue sources that are restricted for specified
purposes.
Permanent Fund – This fund reports resources that are legally restricted to the extent that only earnings,
not principal, may be used for purposes that support City programs.
PROPRIETARY FUND
Proprietary Funds are used to account for the City’s ongoing activities which are similar to those found in
the private sector. The measurement focus is upon determination of net income, financial position, and
changes in financial position.
The following is the City’s major proprietary fund:
The Sewer Service Fund – This fund accounts for the provision of wastewater and sewer services to the
general public. All activities necessary to provide such services are accounted for in this fund, including
administration, operations, maintenance, financing and related debt service, and billing and collection.
FIDUCIARY FUND
The City maintains one custodial fiduciary fund, the Municipal Court, which accounts for court bonds paid
by defendants. Since by definition these assets are being held for the benefit of a third party and cannot be
used to support activities or obligations of the City, these funds are not incorporated into the government-
wide statements.
Page 195 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
25
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.
Page 196 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
26
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.
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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 three types of items, which arises under the accrual and
modified accrual basis of accounting, which qualify for reporting in this category. The first one relates to
changes in assumptions, the change in actual and projected experience in calculating the pension liability,
and the difference between actual and projected earnings in calculating the net pension liability. The second
item, unavailable revenue, is reported in both the statement of net position and in the governmental funds
balance sheet. The governmental funds report unavailable revenues related to taxes, note receivable, and
special assessments, fees, and grants. The third item is the deferred credit on refunding reported in the
government-wide statement of net position. A deferred credit on refunding results from the difference in the
carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the
shorter of the life of the refunding or refunded debt. These amounts are deferred and recognized as an
inflow of resources in the period that the amounts become available.
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of
resources related to pensions, and pension expense, information about the fiduciary net position of the
Missouri Local Government Employees Retirement System (LAGERS) and additions to/deductions from
LAGERS fiduciary net position have been determined on the same basis as they are reported by LAGERS.
For this purpose, benefit payments (including refunds of employee contributions) are recognized when due
and payable in accordance with the benefit terms.
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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 $350,000 for the year ended December 31, 2021.
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.
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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.
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(2) Cash and Investments
A reconciliation of cash and investments as shown on the government-wide statement of net position
and statement of fiduciary net position is as follows:
Government-wide Fiduciary fund
statement statement
of net position of net position Total
Cash and investments 4,951,932$ 12,384$ 4,964,316$
Restricted cash and investments 1,001,258 - 1,001,258
5,953,190$ 12,384$ 5,965,574$
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, 2021, 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, 2021.
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value
to changes in market interest rates. The City structures the investment portfolio so that securities mature
to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open
market prior to maturity and by investing operating funds primarily in shorter-term securities. The City has
elected to use the segmented time distribution method of disclosure for its interest rate risk.
Fair Value Measurements
The City categorizes its fair value measurements within the fair value hierarchy established by general
accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
value of the asset. Level 1 inputs are quoted in active markets for identical assets; Level 2 inputs are
significant other observable inputs such as third party pricing services for identical assets; Level 3 inputs
are significant unobservable inputs.
Cash on hand 581$
Demand deposits 5,391,003
Certificates of deposits 353,662
US treasuries and agency securities 50,038
Restricted cash equivalents held in trust 170,290
5,965,574$
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The City has the following recurring fair value measurements as of December 31, 2021.
All of the City’s investments are classified as Level 1 of the fair value hierarchy using prices quoted in active
markets for those securities.
(3) Tax Revenues and Taxes Receivable
The City’s property taxes are levied and recorded each November 1 on the assessed value as of the prior
January 1 for all property located in the City and are delinquent on January 1 (the lien date) following the
levy date. Assessed values are established by county assessors, subject to review by the county’s Board
of Equalization. The assessed value of local property at January 1, 2021, was $297,521,234.
The City is permitted by the Missouri State Constitution to levy (without a vote of two-thirds of the voting
electorate) taxes up to $1.00 per $100 of assessed valuation for general governmental services other than
the payment of principal and interest on long-term debt. The City’s property tax levies per $100 of assessed
valuation for the year in which the revenues were earned were as follows:
Fund Levy
General Fund $ 0.4400
General Revenue-
Temporary 0.1664
$ 0.6064
Tax revenues for the year ended December 31, 2021 consisted of the following:
Property Sales Franchise Other
Taxes Taxes Taxes Taxes Total
Major governmental funds:
General 1,402,592$ 1,172,035$ 812,268$ -$ 3,386,895$
Transportation Sales Tax - 561,963 - - 561,963
Debt Service 451,816 - - - 451,816
Nonmajor funds 115,317 1,308,927 - 6,410 1,430,654
1,969,725$ 3,042,925$ 812,268$ 6,410$ 5,831,328$
Level 1
Investment
Federal Home Loan Bank 50,038$
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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, 2021:
Sales Franchise
Taxes Taxes Total
Major governmental funds:
General $ 212,946 $ 101,226 $ 314,172
Transportation Sales Tax 102,543 - 102,543
Nonmajor funds 145,581 - 145,581
Total sales taxes receivable $ 461,070 $ 101,226 $ 562,296
(4) Intergovernmental Revenues/Receivables
Intergovernmental revenues for the year ended December 31,2021 consisted of the following:
Transportation Debt Capital Nonmajor
General Sales Tax Service Projects Funds Total
Grants - Federal, State and Local $ 124,175 $ - $ - $ 1,594,180 $ 275,000 $1,993,355
State:
Motor vehicle taxes and fees 87,921 152,240 - - - 240,161
Local:
Special road district - 168,250 - - - 168,250
County transportation - 194,102 - - - 194,102
Economic activity taxes - - - - 219,603 219,603
9 Hwy CID - - 125,504 - - 125,504
Total intergovernmental revenues $ 212,096 $ 514,592 $ 125,504 $ 1,594,180 $ 494,603 $2,940,975
Amounts due from other governments at December 31, 2021, were as follows:
Transportation Capital
General Sales Tax Projects Total
Grants - Federal, State and Local $ 124,573 $ - $ 2,078,005 $2,202,578
Motor vehicle taxes and fees 6,574 13,486 - 20,060
Total due from other governments $ 131,147 $ 13,486 $ 2,078,005 $2,222,638
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Notes to the Basic Financial Statements
December 31, 2021
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(5) Interfund Activity
Transfers between funds for the year ended December 31, 2021 were as follows:
Nonmajor
Transportation Capital Governmental
General Sales Tax Projects Funds Total
Transfers In:
Governmental activities:
General -$ 175,000$ -$ 41,200$ 216,200$
Transportation Sales Tax - - - 200,000 200,000
Debt Service 359,420 210,765 1,323,801 - 1,893,986
Captial Projects - - - 89,300 89,300
Nonmajor Governmental Funds - 14,300 - 30,623 44,923
Total 359,420$ 400,065$ 1,323,801$ 361,123$ 2,444,409$
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, 2021 were as follows:
Due to:
General Fund
Due from:
Debt Service Fund 67,279$
Capital Projects Fund 368,674
435,953$
Amounts due to the General Fund represent advances for short-term cash flow needs.
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Notes to the Basic Financial Statements
December 31, 2021
34
(6) Capital Assets
A summary of the changes in capital assets for the year ended December 31, 2021 is as follows:
December 31, December 31,
2020 Additions Deletions 2021
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 4,890,410 82,397 - 4,972,807
Equipment and vehicles 2,635,563 133,220 114,531 2,654,252
Infrastructure 10,793,448 189,442 - 10,982,890
Total capital assets being depreciated 18,319,421 405,059 114,531 18,609,949
Less accumulated depreciation for:
Buildings and improvements 1,789,772 136,794 - 1,926,566
Equipment and vehicles 2,249,062 137,626 114,531 2,272,157
Infrastructure 2,294,700 263,008 - 2,557,708
Total accumulated depreciation 6,333,534 537,428 114,531 6,756,431
Total capital assets being depreciated, net 11,985,887 11,853,518
Governmental activities capital assets, net 14,705,767$ 14,573,398$
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December 31, 2021
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December 31, December 31,
2020 Additions Deletions 2021
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 4,152,445 187,554 - 4,339,999
Equipment and vehicles 310,303 5,430 - 315,733
Infrastructure 1,251,834 74,934 - 1,326,768
Total accumulated depreciation 5,714,582 267,918 - 5,982,500
Total capital assets being depreciated, net 3,819,339 3,551,421
Business-type activities capital assets, net 3,879,314$ 3,611,396$
Depreciation expense was charged to functions and programs of the primary government as follows:
Governmental activities:
General government 120,085$
Public safety 24,216
Public works 329,335
Parks and recreation 60,261
Community development 3,531
Total depreciation expense for
governmental activities 537,428$
Business-type activities:
Sewer 267,918$
Total depreciation expense for
business-type activities 267,918$
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Notes to the Basic Financial Statements
December 31, 2021
36
(7) Long Term Debt
A summary of the changes in long term debt for the year ended December 31, 2021 is as follows:
Beginning Adjustments/ Adjustments/ End of Due Within
Governmental Activities: of Year Additions Retirements Year One Year
Limited general obligation bonds:
Series 2014A - Brush Creek 4,500,000$ -$ 4,500,000$ -$ -$
Series 2014B - Brink Meyer 3,085,000 - 3,085,000 - -
Premium on issuance 338,038 - 338,038 - -
Series 2020A - Brush Creek 3,995,000 - - 3,995,000 285,000
Series 2020B - Brink Meyer 2,730,000 - - 2,730,000 195,000
14,648,038 - 7,923,038 6,725,000 480,000
Certificates of participation - 2015 2,035,521 - 388,809 1,646,712 395,103
Certificates of participation - 2021A - 2,985,000 - 2,985,000 375,000
Premium on issuance - 107,782 3,368 104,414 -
Lease purchase agreement 1,626,900 - 1,626,900 - -
* Compensated absences 84,048 - 2,208 81,840 81,840
Total Governmental Activities 18,394,507 3,092,782 9,944,323 11,542,966 1,331,943
Business-type Activities:
Revenue bonds 695,000 - 160,000 535,000 165,000
Premium on issuance 23,756 - 7,919 15,837 -
Total Business-type Activities 718,756 - 167,919 550,837 165,000
Total Primary Government 19,113,263$ 3,092,782$ 10,112,242$ 12,093,803$ 1,496,943$
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, 2021 are as
follows:
Series 2020A - Taxable Neighborhood Improvement District - Limited
General Obligation Refunding Bonds (Brush Creek Drainage Area
Neighborhood Improvement Project); due in annual installments through
March 1, 2034; interest at 0.7% to 2.0% 3,995,000$
Series 2020B - Taxable Neighborhood Improvement District - Limited
General Obligation Refunding Bonds (Brink Meyer Road Neighborhood
Improvement Project); due in annual installments through March 1,
2034; interest at 0.7% to 2.0% 2,730,000
Total limited general obligation bonds 6,725,000$
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Notes to the Basic Financial Statements
December 31, 2021
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Crossover Refunding
In June 2020, the City issued $3,995,000 Series 2020A, Taxable Neighborhood Improvement District
Limited General Obligation Refunding Bonds (Brush Creek Drainage Area Neighborhood Improvement
Project) Bonds (2020A bonds). The 2020A Bonds have been structured as a crossover advance refunding.
Net proceeds of the bonds along with available Series 2014A bond trust funds totaling $4,300,413 were
deposited in trust with an escrow agent to 1) pay the interest on the Series 2020A Bonds to and including
March 1, 2021, the anticipated call date of the Series 2014A Bonds and 2) redeem the Series 2014A
refunded maturities on the anticipated call date of March 1, 2021 at a price of par plus accrued interest.
The City issued the 2020A bonds to reduce its net debt service payments by approximately $685,259 which
resulted in a net economic gain of $611,747.
In June 2020, the City issued $2,730,000 Series 2020B, Taxable Neighborhood Improvement District
Limited General Obligation Refunding Bonds (Brink Meyer Road Neighborhood Improvement Project)
Bonds (2020B bonds). The 2020B Bonds have been structured as a crossover advance refunding. Net
proceeds of the bonds along with available Series 2014B bond trust funds totaling $2,949,228 were
deposited in trust with an escrow agent to 1) pay the interest on the Series 2020B Bonds to and including
March 1, 2021, the anticipated call date of the Series 2014B Bonds and 2) redeem the Series 2014B
refunded maturities on the anticipated call date of March 1, 2021 at a price of par plus accrued interest.
The City issued the 2020B bonds to reduce its net debt service payments by approximately $681,070 which
resulted in a net economic gain of $605,627.
On March 1, 2021, the 2014A and 2014B bonds were redeemed in accordance with the crossover
refunding.
Brush Creek and Brink Meyer Special Assessments
In 2015, the City began the required special assessment levy on the property owners within the Brush
Creek Drainage Area Neighborhood Improvement (Brush Creek NID) and the Brink Meyer Road
Neighborhood Improvement District (Brink Meyer NID).
The City has taken legal actions against certain properties located within the Brush Creek and Brink Meyer
NIDs related to delinquent special assessments on those properties. These properties are no longer subject
to Brush Creek NID and/or the Brink Meyer Road NID special assessments.
The Brush Creek and Brink Meyer NID’s originally scheduled annual special assessments necessary to
meet the Series 2020A and 2020B (as noted above, the Series 2020A&B were issued to refund the
2014A&B bonds) debt service requirements was approximately $670,000. Currently, the anticipated annual
collections of special assessments are scheduled to be approximately $255,000. During the year ended
December 31, 2021, the City transferred $359,420 from the General Fund to the Debt Service Fund to
cover the shortfall of special assessments necessary to meet the 2020A and 2020B debt service
requirements.
Tract IX Purchase Agreement – Meadows at Creekside
On March 5, 2019, the City entered into a Real Estate Purchase Agreement (Agreement) to sell
approximately 70 acres of land held for development to a developer for a total purchase price of $4,800,000.
The agreement provides for the acquisition of the property in two phases. The initial portion (Phase I) of
the property to be acquired is approximately 35 acres. The second portion (Phase II) of the property to be
acquired is approximately 35 acres.
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December 31, 2021
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The purchase price for Phase I is $2,400,000 and is payable with $400,000 due at the Phase I closing and
the execution of a Promissory Note of $2,000,000 delivered by the Meadows at Creekside Community
Improvement District (the CID) (Phase I closing was completed in 2019). The Promissory Note is payable
solely from the proceeds of special assessments levied by the CID and secured by a second deed of trust.
The purchase price for Phase II is $2,400,000 and is payable with $400,000 due at the Phase II closing
and the execution of a Promissory Note delivered by the CID ( Phase II closing occurred in 2020). The
Promissory Note is payable solely from the CID special assessments and secured by a second deed of
trust. The Promissory Note is payable solely from the proceeds of special assessments levied by the CID
and secured by a second deed of trust.
The CID special assessments commenced in 2021. Payments on the promissory notes are scheduled to
be $300,000 per year up to a total of the outstanding note balances. At December 31, 2021, the outstanding
balance of the related notes receivable totaled $4,000,000.
Tract I Purchase Option – Creekside Industrial
In November 2020, the Developer exercised the Tract I Purchase Option. Under the Tract I Purchase Option,
the Developer and City entered into a purchase and sale agreement (Tract I Purchase Agreement). The Tract
I Purchase Agreement set the purchase price at $1,600,000. Beginning January 1, 2022 and ending
December 31, 2025, the City will receive $100,000 per year from the Hotel Special Assessment. Beginning
January 1, 2026, the amount increases to $150,000 per year. In any year the contribution falls short, the
Developer will pay the difference. In any year, the contribution from the Hotel Special Assessment falls short,
or the Developer’s failure to pay the difference, the City shall receive $100,000 each year from available
sources in the Creekside Incentive Fund. All payments will be deducted from the $1,600,000 purchase and
sale agreement receivable. At December 31, 2021, the outstanding balance of the purchase and sale
agreement receivable totaled $1,600,000.
B. Certificates of Participation
During fiscal year 2015, the City issued $3,383,722 Refunding Certificates of Participation Series 2015 to
current refund the 2006 Certificates of Participation issued for the purpose of constructing City Hall, public
parking lot and certain other capital improvements within the City. A temporary tax levy was approved to
fund a portion of the debt service payments. Principal and interest payments are due semi-annually
beginning on September 1, 2016 through March 1, 2027 with principal payments ranging from $139,867 to
$444,872, with an interest rate of 2.24%. The outstanding balance at December 31, 2021, is $1,646,712.
During fiscal year 2021, the City issued $2,985,000 Certificates of Participation Series 2021A to provide
funding for the Route 9 Project and provide funding to pay the Lease Purchase Agreement discussed in
Note 7 C. below. Principal and interest payments are due semi-annually beginning on March 1, 2022
through March 1, 2037 with principal payments ranging from $160,000 to $375,000, with an interest rate of
2.0%. The outstanding balance at December 31, 2021, is $2,985,000.
C. Lease Purchase Agreement
During fiscal year 2017, the City entered into a lease purchase 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
$1,310,700, with an interest rate of 2.19%. On February 27, 2020, the lease purchase agreement was
amended providing additional funds of $79,700 and 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 originally scheduled March 1, 2020 debt service
payment of $1,329,800. The lease purchase agreement was prepaid with proceeds from the 2021A
Certificates of Participation.
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Notes to the Basic Financial Statements
December 31, 2021
39
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 Sewage System Revenue Bonds are special, limited
obligations of the City payable solely from, and secured by a pledge of, the net revenues of the Sewer
Fund. The bonds are due in annual installments of $30,000 to $170,000 through January 1, 2025 with
interest ranging from 3.0% to 5.25%. The outstanding balance at December 31, 2021, is $535,000.
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, 2021, there are two outstanding industrial revenue bond issuances with
a total principal amount of approximately $197 million.
(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, 2021,
expenses incurred under these agreements were $33,174 (Kansas City, Missouri) and $17,759 (Platte
County Regional Sewer District).
Year Ending
December 31,Principal Interest Principal Interest Principal Interest
2022 285,000$ 56,061$ 195,000$ 38,365$ 395,103$ 32,461$
2023 290,000 53,904 195,000 36,903 420,474 23,327
2024 290,000 51,439 195,000 35,245 444,872 13,635
2025 295,000 48,659 200,000 33,368 123,277 7,272
2026 295,000 45,488 205,000 33,368 123,119 4,512
2027-2031 1,550,000 162,616 1,060,000 111,538 139,867 1,567
2032-2036 990,000 29,697 680,000 20,463 - -
3,995,000$ 447,864$ 2,730,000$ 309,250$ 1,646,712$ 82,774$
Year Ending
December 31,Principal Interest Principal Interest Principal Interest
2022 375,000$ 63,578$ 1,250,103$ 190,465$ 165,000$ 29,950$
2023 160,000 50,600 1,065,474 164,734 170,000 21,625
2024 160,000 47,400 1,089,872 147,719 170,000 13,250
2025 165,000 44,150 783,277 133,449 30,000 5,175
2026 165,000 40,850 788,119 124,218 - -
2027-2031 845,000 154,250 3,594,867 429,971 - -
2032-2036 920,000 67,900 2,590,000 118,060 - -
2037 195,000 3,900 195,000 3,900 - -
Totals 2,985,000$ 472,628$ 11,356,712$ 1,312,516$ 535,000$ 70,000$
Sewage System Revenue
Bonds Series 2004A
Certificates of Participation
Series 2020A Governmental Activities Total
Governmental Activities
Certificates of Participation
Series 2015
Limited General Obligation
Refunding Bonds - Series
2020A (Brush Creek)
Limited General Obligation
Refunding Bonds - Series
2020B (Brink Meyer)
Governmental Activities Business-type Activities
Page 210 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
40
(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.
2021 Valuation
Benefit Multiplier: 1.75%
Final Average Salary: 5 Years
Member Contributions: 4%
Benefit terms provide for annual post retirement adjustments to each member’s retirement allowance
subsequent to the member’s retirement date. The annual adjustment is based on the increase in the
Consumer Price Index and is limited to 4% per year.
C. Employees Covered by Benefit Terms
The following employees were covered by the benefit terms:
General Police Total
Inactive employees or beneficiaries currently
receiving benefits 2 3 5
Inactive employees entitled to but not yet
receiving benefits 11 10 21
Active employees 23 15 38
36 28 64
D. Contributions
The employer is required to contribute amounts at least equal to the actuarially determined rate, as
established by LAGERS. The actuarially determined rate is the estimated amount necessary to finance the
cost of benefits earned by employees during the year, with an additional amount to finance an unfunded
accrued liability. Full-time employees of the employer contribute 4% to the pension plan. Employer
contribution rates are 11.0% (General) and 13.3% (Police) of annual covered payroll.
Page 211 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
41
E. Net Pension Liability
The City’s net pension liability was measured as of June 30, 2021, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of February 28, 2021.
F. Actuarial Assumptions
The total pension liability in the February 28, 2021 actuarial valuation was determined using the following
actuarial assumptions, applied to all periods included in the measurement:
Inflation 2.75% wage inflation; 2.25% price inflation
Salary Increase 2.75% to 6.75% including wage inflation
Investment rate of return 7.00%, 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/Leverage -25.00% -0.29%
G. Discount Rate
The discount rate used to measure the total pension liability is 7.00%. The projection of cash flows used to
determine the discount rate assumes that employer and employee contributions will be made at the rates
agreed upon for employees and the actuarially determined rates for employers. Based on these
assumptions, the pension plan’s fiduciary net position was projected to be available to pay all projected
future benefit payments of current active and inactive employees. Therefore, the long-term expected rate
of return on pension plan investments was applied to all periods of projected benefit payment to determine
the total pension liability.
Page 212 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
42
H. Changes in the Net Pension Liability
(a) (b) (a) - (b)
(3,525,964)$ 2,418,670$ 1,110,294$
239,471 - 239,471
263,386 - 263,386
Change in benefit terms - - -
(220,194) - (220,194)
Change in assumptions (24,731) - (24,731)
- 263,683 (263,683)
- 84,397 (84,397)
- 741,438 (741,438)
(27,877) (27,877) -
- (5,040) 5,040
- 3,250 (3,250)
Net changes 230,055 1,059,851 (829,796)
(3,295,909)$ 3,478,521$ 280,498$
Difference between expected and actual
Balances at beginning of year
Changes for the year:
Service Cost
Interest
Balances at end of year
Contributions - employer
Contributions - employee
Net investment income
Benefit payments, including refunds
Administrative expense
Other changes (net transfer)
I. Sensitivity of the Net Pension Liability to Changes in the Discount Rate
The following presents the Net Pension Liability of the employer, calculated using the discount rate of
7.00%, as well as what the employer’s Net Pension Liability would be using a discount rate that is one
percentage point lower (6.00%) or one percentage point higher (8.00%) than the current rate.
1% Decrease
Current Single
Discount Rate
Assumption 1% Increase
6.00% 7.00% 8.00%
Total Pension Liability 4,388,885$ 3,759,019$ 3,247,944$
Plan Fiduciary Net Position (3,478,521) (3,478,521) (3,478,521)
Net Pension Liability 910,364$ 280,498$ (230,577)$
Page 213 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
43
J. Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
For the year ended December 31, 2021, the City recognized LAGERS pension expense of $126,289
($57,648 (General) and $68,641 (Police)). The City reported deferred outflows related to LAGERS pension
from the following sources:
*The amount reported as deferred outflows of resources resulting from contributions subsequent
to the measurement date will be recognized as a reduction in the Net Pension Liability for the year ending
December 31, 2021.
Net amounts reported as deferred outflows and deferred inflows of resources related to LAGERS pension
will be recognized in pension expense as follows:
Year ending December 31: General Police Total
2021 (66,584)$ (29,606)$ (96,190)$
2022 (56,560) (31,682) (88,242)
2023 (53,808) (40,950) (94,758)
2024 (76,888) (56,944) (133,832)
2025 (17,424) (13,576) (31,000)
Thereafter (10,273) - (10,273)
Total (281,537)$ (172,758)$ (454,295)$
K. Payable to the Pension Plan
At December 31, 2021, the City paid all outstanding contributions to the LAGERS pension plan.
General Police Total
Deferred Outflows of Resources:
Assumption changes 11,778$ 7,151$ 18,929$
Difference in experience 91,188 55,761 146,949
Contributions subsequent to the
measurement date* 82,902 53,712 136,614
Total 185,868$ 116,624$ 302,492$
Deferred Inflows of Resources:
Assumption changes (20,644)$ (3,165)$ (23,809)$
(229,891) (141,890) (371,781)
Difference in experience (133,968) (90,615) (224,583)
Total (384,503)$ (235,670)$ (620,173)$
.
Difference between projected and actual
earnings on pension plan investments
Page 214 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
44
(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, 2021,
the fund had $21,577 net appreciation on assets available for expenditure which is reported as restricted
fund balance and $579,596 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.
Page 215 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
45
(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 7A, 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 $4,000,000.
Page 216 of 339
CITY OF PARKVILLE, MISSOURI
Notes to the Basic Financial Statements
December 31, 2021
46
Tract I Purchase Option Agreement – Creekside Industrial
As discussed in Note 7A, the Developer exercised the Tract I Purchase Option. Under the Tract I Purchase
Option, the Developer and City entered into a purchase and sale agreement (Tract I Purchase Agreement).
The Tract I Purchase Agreement set the purchase price at $1,600,000. Beginning January 1, 2022 and ending
December 31, 2025, the City will receive $100,000 per year from the Hotel Special Assessment. Beginning
January 1, 2026, the amount increases to $150,000 per year. In any year, the contribution from the Hotel
Special Assessment falls short, or the Developer’s failure to pay the difference, the City shall receive $100,000
each year from available sources in the Creekside Incentive Fund. All payments will be deducted from the
$1,600,000 purchase and sale agreement receivable. At December 31, 2021, the outstanding balance of the
purchase and sale agreement receivable totaled $1,600,000.
The City established the Creekside Community Improvement District (CID). The Creekside Transportation
District (TDD) was established through a judicial process. The CID and TDD will impose a one percent
sales tax for a period of 40 years to fund eligible CID and TDD improvements.
The City has also approved a Chapter 100 Industrial Development Plan for the portion of the site where the
apartments are built. The Chapter 100 plan provides property tax abatement to the owners of the apartments
for a sixteen year period. The City has issued its Taxable Industrial Development Revenue Bonds (Creekside
Development Apartments Project), Series 2019, in an aggregate principal amount not to exceed $26,000,000
and its Taxable Industrial Development Revenue Bonds (Creekside Development Apartments Project), Series
2019, in an aggregate maximum principal amount of $171,000,000, for the purpose of providing funds to pay
the costs of the Project.
The Creekside Plan is on a pay-as-you-go basis payable from the incremental increase in property and sales
taxes generated within TIF areas of the Creekside Plan. Funding is also available from CID and TDD one
percent sales taxes and certain Meadows CID special assessments As of December 31, 2021, certified tax
increment financing reimbursable project costs totaled $5,041,027.
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 $5,916,893 for Project 2. The Market Place
Plan is on a pay-as-you-go basis payable from the incremental increase in property and sales taxes.
Funding is also available from the tax increment economic activity taxes portion of the Market Place
Community Improvement District’s one percent CID Sales tax and the tax increment economic activity taxes
portion Market Place #2 Community Improvement District’s one percent CID Sales tax.
(12) Subsequent Events
The City evaluated subsequent events through September 16, 2022, the date the financial statements were
available to be issued. No events were identified that required adjustment to or disclosure in the financial
statements.
Page 217 of 339
Schedule 1
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 3,321,198$ 3,321,198$ 3,386,895$ 65,697$
Intergovernmental 82,320 82,320 212,096 129,776
Charges for services 34,194 34,194 30,885 (3,309)
Fines and forfeitures 130,000 130,000 66,311 (63,689)
Licenses and permits 451,800 451,800 589,564 137,764
Charges for sewer 300,000 300,000 350,000 50,000
Interest 6,000 6,000 4,623 (1,377)
Other 109,000 109,000 146,957 37,957
Total Revenues 4,434,512 4,434,512 4,787,331 352,819
Expenditures:
Current:
General government 1,531,421 1,590,542 1,581,586 8,956
Public safety 1,968,046 1,968,046 1,666,975 301,071
Public works 512,552 518,404 801,362 (282,958)
Parks and recreation 832,019 832,019 494,981 337,038
Community development 464,311 464,311 384,483 79,828
Total Expenditures 5,308,349 5,373,322 4,929,387 443,935
Excess of Revenues Over
(Under) Expenditures (873,837) (938,810) (142,056) 796,754
Other Financing Sources (Uses):
Transfers in 216,200 216,200 216,200 -
Transfers out (359,420) (359,420) (359,420) -
Sale of assets 400,000 400,000 36,660 (363,340)
Total Other Financing Sources (Uses) 256,780 256,780 (106,560) (363,340)
Change in fund balance (617,057)$ (682,030)$ (248,616) 433,414$
Fund Balances, Beginning of Year 990,919
Fund Balances, End of Year 742,303$
Note: GAAP is the budgetary basis used to prepare this schedule
2021
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, 2021
47
Page 218 of 339
Schedule 2
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 517,415$ 517,415$ 561,963$ 44,548$
Intergovernmental 538,565 538,565 514,592 (23,973)
Grants and donations - - 1,293 1,293
Other 5,325 5,325 16,425 11,100
Total Revenues 1,061,305 1,061,305 1,094,273 32,968
Expenditures:
Current:
Capital outlay 771,000 771,000 699,245 71,755
Total Expenditures 771,000 771,000 699,245 71,755
Excess of Revenues Over
(Under) Expenditures 290,305 290,305 395,028 104,723
Other Financing Sources (Uses):
Transfers in 100,000 100,000 200,000 100,000
Transfers out (388,072) (402,372) (400,065) 2,307
Total Other Financing Sources (Uses) (288,072) (302,372) (200,065) 102,307
Change in fund balance 2,233$ (12,067)$ 194,963 207,030$
Fund Balances, Beginning of Year 96,882
Fund Balances, End of Year 291,845$
Note: GAAP is the budgetary basis used to prepare this schedule
2021
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, 2021
48
Page 219 of 339
CITY OF PARKVILLE, MISSOURI
Notes to Required Supplementary Information
December 31, 2021
49
(1) Budgetary Data
The Board of Alderman adopted annual operating budgets for all funds except for the Court Recoupment
Fees, Police Training Fees LET, Police Shop, TIF Development, Market Place Project 2, Market Place
CID #1, Market Place CID #2, and the Creekside Development funds. The City’s budget is adopted using
Generally Accepted Accounting Principles on the Modified Accrual Basis of Accounting. Revisions to the
budget can be made only by the Board of Alderman. Legally, expenditures may not exceed the total
amount of expenditures budgeted, as revised, in each fund. All annual appropriations lapse at year end if
not encumbered.
The City follows these procedures in establishing the budgetary date reflected in the financial statements,
beginning in the prior year.
1. In early August, budget worksheets are issued to each department.
2. In early September, budget requests are submitted by departments to the City Administrator.
3. Budget meetings are held between the City Administrator and each department beginning in late
September to early October.
4. In late October, a proposed budget is presented to the Board of Aldermen.
5. In early December, the Board of Alderman adopt the budget.
Page 220 of 339
Schedule 3
2021 2020 2019 2018 2017 2016 2015
Total Pension Liability
Service costs 239,471$ 201,429$ 172,547$ 148,593$ 119,807$ 116,946$ 104,714$
Interest on total pension liability 263,386 193,934 161,830 142,885 107,562 93,722 69,352
Changes in benefit terms - 443,125 - - 252,150 - 226,297
Difference between expected and
actual experience of the total pension liability (220,194) 126,146 117,686 (16,202) 19,236 (66,469) (47,700)
Changes of assumptions (24,731) - - - (12,160) 79,853 -
Benefit payments and refunds (27,877) (22,947) (23,897) (27,488) (18,639) (31,360) (14,002)
Net change in total pension liability 230,055 941,687 428,166 247,788 467,956 192,692 338,661
Total pension liability - beginning of year 3,528,964 2,587,277 2,159,111 1,911,323 1,443,367 1,250,675 912,014
Total pension liability - end of year (a) 3,759,019$ 3,528,964$ 2,587,277$ 2,159,111$ 1,911,323$ 1,443,367$ 1,250,675$
Plan Fiduciary Net Position
Contributions - employer 263,683$ 206,382$ 177,852$ 155,363$ 112,455$ 93,771$ 73,690$
Contributions - employee 84,397 82,259 77,157 68,390 62,865 61,441 60,880
Net investment income 741,438 30,625 120,889 180,098 141,948 63 17,409
Benefit payments and refunds (27,877) (22,947) (23,897) (27,488) (18,639) (31,360) (14,002)
Administrative expenses (5,040) (6,190) (5,440) (3,246) (3,626) (3,451) (3,356)
Other (net transfer) 3,250 2,550 (1,855) (6,335) 1,806 (3,952) 38,126
Net change in plan fiduciary net position 1,059,851 292,679 344,706 366,782 296,809 116,512 172,747
Plan fiduciary net position - beginning of year 2,418,670 2,125,991 1,781,285 1,414,503 1,117,694 1,001,182 828,435
Plan fiduciary net position - end of year (b)3,478,521$ 2,418,670$ 2,125,991$ 1,781,285$ 1,414,503$ 1,117,694$ 1,001,182$
Net pension liability (a) - (b) $ 280,498 $ 1,110,294 $ 461,286 $ 377,826 $ 496,820 $ 325,673 $ 249,493
Plan net position as a percentage of the
total pension liability 92.54% 68.54% 82.17% 82.50% 74.01% 77.44% 80.05%
Covered employee payroll 2,033,168 2,136,492 1,935,516 1,567,178 1,457,585 1,415,099 1,414,512
Net pension liability/(asset) as a
percentage of covered payroll 13.80% 51.97% 23.83% 24.11% 34.09% 23.01% 17.64%
GASB 68 requires presentation of ten years. As of December 31, 2021, only seven 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, 2021
Lagers
50
Page 221 of 339
Schedule 4
Actuarially Covered Contribution
Fiscal Determined Contribution in Contribution Employee as
Year Contribution Relation Deficiency Payroll Percentage
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%
2020 235,257 235,257 - 2,055,071 11.45%
2021 274,675 274,675 - 2,164,460 12.69%
Lagers
Valuation Date
Notes:
Actuarial cost method Entry Age Normal and Modified Terminal Funding
Amortization method
Remaining amortization period Multiple bases from 13 to 18 years
Asset valuation method 5-year smoothed market; 20% corridor
Inflation assumption 2.75% wage inflation; 2.25% price inflation
Salary increases 2.75% to 6.75% including wage inflation
Investment rate of return 7.00%, net of investment expenses
Retirement age
Mortality
Other information:
CITY OF PARKVILLE, MISSOURI
Required Supplementary Information
Schedule of Employer Contributions
For the Year Ended December 31, 2021
LAGERS (General and Police)
Mortality rates for a particular calendar year are determined by applying the MP-2020
mortality improvement scale to the above described tables.
None
Experienced-based table of rates that are specific to the type of eligibility condition
Methods and assumptions used to determine contributions rates:
February 28, 2021
The roll-forward of total pension liability from February 28, 2021 to June 30, 2021
reflects expected service cost and interest reduced by actual benefit payments and
administrative expenses.
The healthy retiree mortality tables, for post retirement mortality, used in evaluating
allowances to be paid were 115% of the PubG-2010 Retiree Mortality Table for males
and females. The disabled retiree mortality tables, for post-retirement mortality, used
in evaluating allowances to be paid were 115% of the PubNS-2010 Disabled Retiree
Mortality Table for males and females. The preretirement mortality tables used were
75% of the PubG-2010 Employee Mortality Table for males and females of General
groups and 75% of the PubS-2010 Employee Mortality Table for males and females of
Police, Fire and Public Safety groups.
Level percentage of payroll amortization method is used to amortize the UAAL over a
close period of years. If the UAAL (excluding the UAAL associated with benefit
changes) is negative, then this amount is amortized over the greater of (i) the
remaining initial amortization period or (ii) 15 years.
51
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Schedule 5
General Reserve
Fund Fund Totals
Assets:
Cash and investments 331,523$ 1,332,108$ 1,663,631$
Receivables:
Taxes 314,172 - 314,172
Accounts and other - - -
Creekside receivables 5,600,000 - 5,600,000
Due from other governments 131,147 - 131,147
Prepaid, deposits and other assets 134,455 - 134,455
Total Assets 6,947,250$ 1,332,108$ 8,279,358$
Liabilities:
Accounts payable 165,941$ -$ 165,941$
Accrued payroll and benefits 109,589 - 109,589
Total Liabilities 275,530 - 275,530
Deferred inflows of resources:
Unavailable revenues - Creekside receivables 5,600,000 - 5,600,000
Unavailable revenues - grants 124,563 - 124,563
Unavailable revenues - taxes 204,854 - 204,854
5,929,417 - 5,929,417
Fund balances:
Nonspendable:
Prepaid items 134,455 - 134,455
Committed:
Emergency reserve - 1,332,108 1,332,108
Unassigned 607,848 - 607,848
Total fund balances 742,303 1,332,108 2,074,411
Total liabilities, deferred inflows
of resources and fund balances 6,947,250$ 1,332,108$ 8,279,358$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - General Fund
December 31, 2021
52
Page 223 of 339
Schedule 6
General Reserve
Fund Fund Totals
Revenues:
Taxes 3,386,895$ -$ 3,386,895$
Intergovernmental 212,096 - 212,096
Charges for services 30,885 - 30,885
Fines and forfeitures 66,311 - 66,311
Licenses and permits 589,564 - 589,564
Charges for sewer administration 350,000 - 350,000
Interest 4,623 - 4,623
Other 146,957 - 146,957
Total Revenues 4,787,331 - 4,787,331
Expenditures:
Current:
General government 1,581,586 - 1,581,586
Public safety 1,666,975 - 1,666,975
Public works 801,362 - 801,362
Parks and recreation 494,981 - 494,981
Community development 384,483 - 384,483
4,929,387 - 4,929,387
Excess of Revenues Over
(Under) Expenditures (142,056) - (142,056)
Other financing sources (uses):
Transfers in 216,200 - 216,200
Transfers out (359,420) - (359,420)
Sale of assets 36,660 - 36,660
Total Other Financing Sources (106,560) - (106,560)
Change in fund balance (248,616) - (248,616)
Fund Balances, Beginning of Year 990,919 1,332,108 2,323,027
Fund Balances, End of Year 742,303$ 1,332,108$ 2,074,411$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
General Fund
For the Year Ended December 31, 2021
53
Page 224 of 339
Schedule 7
River Certificates of Brush Brink Lease Purchase
Park Participation Creek Meyer Agreement Totals
Assets:
Restricted cash and investments 1,255$ 152,461$ 56,892$ 5,702$ -$ 216,310$
Receivables:
Special assessments - - 2,355,314 - - 2,355,314
Total Assets 1,255$ 152,461$ 2,412,206$ 5,702$ -$ 2,571,624$
Liabilities:
Due to other funds -$ -$ -$ -$ 67,279$ 67,279$
Total Liabilities - - - - 67,279 67,279
Deferred inflows of resources:
Unavailable revenues -
special assessments - 74,592 2,392,242 - - 2,466,834
Fund balances:
Restricted:
Debt service 1,255 77,869 19,964 5,702 (67,279) 37,511
Total fund balances (deficit) 1,255 77,869 19,964 5,702 (67,279) 37,511
Total liabilities, deferred inflows
and fund balances (deficit) 1,255$ 152,461$ 2,412,206$ 5,702$ -$ 2,571,624$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Debt Service Funds
December 31, 2021
54
Page 225 of 339
Schedule 8
River Certificates of Brush Brink Lease Purchase
Park Participation Creek Meyer Agreement Totals
Revenues:
Taxes -$ 451,816$ -$ -$ -$ 451,816$
Intergovernmental - - - - 125,504 125,504
Special assessments 1,253 - 234,674 1,683 - 237,610
Interest 2 255 - - - 257
Total Revenues 1,255 452,071 234,674 1,683 125,504 815,187
Expenditures:
Debt service:
Principal - 388,809 4,500,000 3,085,000 1,626,900 9,600,709
Interest and fiscal charges - 41,241 144,664 109,195 33,170 328,270
- 430,050 4,644,664 3,194,195 1,660,070 9,928,979
Excess of Revenues Over
(Under) Expenditures 1,255 22,021 (4,409,990) (3,192,512) (1,534,566) (9,113,792)
Other financing sources (uses):
Transfers in - - 112,357 247,063 1,534,566 1,893,986
Total Other Financing Sources - - 112,357 247,063 1,534,566 1,893,986
Change in fund balance 1,255 22,021 (4,297,633) (2,945,449) - (7,219,806)
Fund Balances (deficit),
Beginning of Year - 55,848 4,317,597 2,951,151 (67,279) 7,257,317
Fund Balances (deficit),
End of Year 1,255$ 77,869$ 19,964$ 5,702$ (67,279)$ 37,511$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
Debt Service Funds
For the Year Ended December 31, 2021
55
Page 226 of 339
Schedule 9
Court Police
Park Sales Economic Nature Parks Veterans Recoupment Training Fees
Tax Development Sanctuary Donations Memorial ARPA Fees LET
Assets
Cash and investments 609,609$ 8,946$ 264,510$ 15,107$ 54,430$ 447,594$ 38,876$ 35,087$
Receivables:
Taxes 99,487 - - - - - - -
Restricted cash and investments - - - - - - - -
Total Assets 709,096$ 8,946$ 264,510$ 15,107$ 54,430$ 447,594$ 38,876$ 35,087$
Liabilities and Fund Balances
Liabilities:
Accounts payable 63,983$ -$ 125$ -$ -$ -$ -$ -$
Unearned revenue - - - - - 447,594 - -
Total Liabilities 63,983 - 125 - - 447,594 - -
Fund balances
Nonspendable:
Fewson trust - - - - - - - -
Restricted:
Capital projects - - - - - - - -
Public safety - - - - - - 38,876 35,087
Parks and recreation 645,113 - 264,385 15,107 54,430 - - -
Community development - 8,946 - - - - - -
Total fund balances 645,113 8,946 264,385 15,107 54,430 - 38,876 35,087
Total liabilities and fund balances 709,096$ 8,946$ 264,510$ 15,107$ 54,430$ 447,594$ 38,876$ 35,087$
(Continued on Next Page)
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Non-major Governmental Funds
December 31, 2021
56
Page 227 of 339
Assets
Cash and investments
Receivables:
Taxes
Restricted cash and investments
Total Assets
Liabilities and Fund Balances
Liabilities:
Accounts payable
Unearned revenue
Total Liabilities
Fund balances
Nonspendable:
Fewson trust
Restricted:
Capital projects
Public safety
Parks and recreation
Community development
Total fund balances
Total liabilities and fund balances
Schedule 9
Permanent
Fund
Market Place
Police TIF Project 2 Market Place Market Place Creekside Fewson
Shop Development Development CID #1 CID #2 Development Project Totals
26,506$ 12,541$ 422,104$ 33,525$ 35,534$ 266,870$ -$ 2,271,239$
- - - 13,118 13,118 19,858 - 145,581
- - - - - - 601,173 601,173
26,506$ 12,541$ 422,104$ 46,643$ 48,652$ 286,728$ 601,173$ 3,017,993$
126$ -$ -$ -$ -$ -$ -$ 64,234$
- - - - - - - 447,594
126 - - - - - - 511,828
- - - - - - 579,596 579,596
- - - - - - 21,577 21,577
26,380 - - - - - - 100,343
- - - - - - - 979,035
- 12,541 422,104 46,643 48,652 286,728 - 825,614
26,380 12,541 422,104 46,643 48,652 286,728 601,173 2,506,165
26,506$ 12,541$ 422,104$ 46,643$ 48,652$ 286,728$ 601,173$ 3,017,993$
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Non-major Governmental Funds
December 31, 2021
57
Page 228 of 339
Schedule 10
Court Police
Park Sales Economic Nature Parks Veterans Recoupment Training Fees
Tax Development Sanctuary Donations Memorial ARPA Fees LET
Revenues:
Taxes 672,672$ 6,410$ -$ -$ -$ -$ -$ -$
Intergovernmental - - 644 - - 275,000 - 416
Interest - - - - - - - -
Special assessments - - - - - - - -
Grants and donations - - 5,486 - 41,781 - - -
Other - - 4,724 - -- - -
Total Revenues 672,672 6,410 10,854 - 41,781 275,000 - 416
Expenditures:
Current:
Public safety - - - - - - 2,445 2,837
Parks and recreation 313,299 - 4,190 - 3,350 - - -
Community development - 1,000 - - - - - -
313,299 1,000 4,190 - 3,350 - 2,445 2,837
Excess of Revenues
Over (Under) Expenditures 359,373 5,410 6,664 - 38,431 - (2,445) (2,421)
Other financing sources (uses):
Transfers in - - - - - - - -
Transfers out (41,200) - - - - (275,000) - -
Total Other Financing
Sources (Uses)(41,200) - - - - - - -
Change in fund balance 318,173 5,410 6,664 - 38,431 - (2,445) (2,421)
Fund Balances, Beginning of Year 326,940 3,536 257,721 15,107 15,999 - 41,321 37,508
Fund Balances, (deficit)
End of Year 645,113$ 8,946$ 264,385$ 15,107$ 54,430$ -$ 38,876$ 35,087$
(Continued on Next Page)
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance
Non-major Governmental Funds
For the Year Ended December 31, 2021
58
Page 229 of 339
Revenues:
Taxes
Intergovernmental
Interest
Special assessments
Grants and donations
Other
Total Revenues
Expenditures:
Current:
Public safety
Parks and recreation
Community development
Excess of Revenues
Over (Under) Expenditures
Other financing sources (uses
Transfers in
Transfers out
Total Other Financing
Sources (Uses)
Change in fund balance
Fund Balances, Beginning of Ye
Fund Balances, (deficit)
End of Year
Permanent
Fund
Market
Police TIF Place Market Place Market Place Creekside Fewson
Shop Development Project 2 CID #1 CID #2 Development Project Totals
-$ 340,840$ 156,066$ 53,049$ 53,049$ 148,568$ -$ 1,430,654$
- 218,543 - - - - - 494,603
- 25 - - - - 1,943 1,968
- -- - - 125,397 - 125,397
20,048 - - - - - - 67,315
- - - - - - - 4,724
20,048 559,408 156,066 53,049 53,049 273,965 1,943 2,124,661
17,633 - - - - - - 22,915
- 559,383 - - - - - 880,222
- -6,370 6,007 1,654 6,450 - 21,481
17,633 559,383 6,370 6,007 1,654 6,450 -924,618
2,415 25 149,696 47,042 51,395 267,515 1,943 1,200,043
- - 44,923 - - - - 44,923
- - - (22,462) (22,461) - - (361,123)
- - 44,923 (22,462) (22,461) - - (316,200)
2,415 25 194,619 24,580 28,934 267,515 1,943 883,843
23,965 12,516 227,485 22,063 19,718 19,213 599,230 1,622,322
26,380$ 12,541$ 422,104$ 46,643$ 48,652$ 286,728$ 601,173$ 2,506,165$
Schedule 10
Special Revenue Funds
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance
Non-major Governmental Funds
For the Year Ended December 31, 2021
59
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Schedule 11
Meadows at Creekside
Creekside Creekside Creekside Special
CID TDD CID Allocation
Fund Fund Fund Fund Totals
Assets:
Cash and investments 59,513$ 67,176$ 125,397$ 14,784$ 266,870$
Receivables:
Taxes 9,929 9,929 --19,858
Total Assets 69,442$ 77,105$ 125,397$ 14,784$ 286,728$
Liabilities:
Accounts payable -$ -$ -$ -$ -$
Total Liabilities - ----
Fund balances:
Restricted:
Community development 69,442 77,105 125,397 14,784 286,728
Total fund balances 69,442 77,105 125,397 14,784 286,728
Total liabilities, deferred inflows
and fund balances 69,442$ 77,105$ 125,397$ 14,784$ 286,728$
CITY OF PARKVILLE, MISSOURI
Combining Balance Sheet - Creekside Development
December 31, 2021
60
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Schedule 12
Meadows at Creekside
Creekside Creekside Creekside Special
CID TDD CID Allocation
Fund Fund Fund Fund Totals
Revenues:
Taxes 66,892$ 66,892$ -$ 14,784$ 148,568$
Special assessments -- 125,397 - 125,397
Total Revenues 66,892 66,892 125,397 14,784 273,965
Expenditures:
Current:
Community development 6,450 - -- 6,450
6,450 - -- 6,450
Excess of Revenues Over
(Under) Expenditures 60,442 66,892 125,397 14,784 267,515
Change in fund balance 60,442 66,892 125,397 14,784 267,515
Fund Balances,
Beginning of Year 9,000 10,213 -- 19,213
Fund Balances,
End of Year 69,442$ 77,105$ 125,397$ 14,784$ 286,728$
CITY OF PARKVILLE, MISSOURI
Combining Statement of Revenues, Expenditures and Changes in Fund Balance -
Creekside Development
For the Year Ended December 31, 2021
61
Page 232 of 339
Final
Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative)
Revenues:
Taxes -$ -$ -$ 450,970$ 451,816$ 846$ -$ -$ -$
Special assessments - 1,253 1,253 - - - 233,591 234,674 1,083
Interest - 2 2 120 255 135 4,845 - (4,845)
Total Revenues - 1,255 1,255 451,090 452,071 981 238,436 234,674 (3,762)
Expenditures:
Debt service:
Principal - - - 388,809 388,809 - 4,535,413 4,500,000 35,413
Interest and fiscal charges - - - 41,241 41,241 - 115,793 144,664 (28,871)
Total Expenditures - - - 430,050 430,050 - 4,651,206 4,644,664 6,542
Excess of Revenues Over
(Under) Expenditures - 1,255 1,255 21,040 22,021 981 (4,412,770) (4,409,990) 2,780
Other financing sources (uses):
Transfers in - - - - - - 112,357 112,357 -
Refunding bond proceeds - - - - - - - - -
Total Other Financing Sources (Uses)- - - - - - 112,357 112,357 -
Change in fund balance -$ 1,255 1,255$ 21,040$ 22,021 981$ (4,300,413)$ (4,297,633) 2,780$
Fund Balance, Beginning of Year - 55,848 4,317,597
Fund Balance (Deficit), End of Year 1,255$ 77,869$ 19,964$
(Continued on Next Page)
Schedule 13
River Park Certificates of Participation Brush Creek
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
For the Year Ended December 31, 2021
Fund Balance - Budget and Actual
Debt Service Funds
62
Page 233 of 339
Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative) Final Budget Actual
Variance
Positive
(Negative)
Revenues:
Taxes -$ -$ -$ -$ -$ 450,970$ 451,816$ 846$
Intergovernmental - - - 274,805 125,504 (149,301) 274,805 125,504 (149,301)
Special assessments 1,605 1,683 78 - - - 235,196 237,610 2,414
Interest 3,323 - (3,323) - - - 8,288 257 (8,031)
Total Revenues 4,928 1,683 (3,245) 274,805 125,504 (149,301) 969,259 815,187 (154,072)
Expenditures:
Debt service:
Principal 3,109,227 3,085,000 24,227 2,740,002 1,626,900 1,113,102 10,773,451 9,600,709 1,172,742
Interest and fiscal charges 91,991 109,195 (17,204) 36,677 33,170 3,507 285,702 328,270 (42,568)
Total Expenditures 3,201,218 3,194,195 7,023 2,776,679 1,660,070 1,116,609 11,059,153 9,928,979 1,130,174
Excess of Revenues Over
(Under) Expenditures (3,196,290) (3,192,512) 3,778 (2,501,874) (1,534,566) 967,308 (10,089,894) (9,113,792) 976,102
Other financing sources (uses):
Transfers in 247,063 247,063 - 2,501,874 1,534,566 (967,308) 2,861,294 1,893,986 (967,308)
Total Other Financing Sources (Uses)247,063 247,063 - 2,501,874 1,534,566 (967,308) 2,861,294 1,893,986 (967,308)
Change in fund balance (2,949,227)$ (2,945,449) 3,778$ -$ - -$ (7,228,600)$ (7,219,806) 8,794$
Fund Balance (deficit),
Beginning of Year 2,951,151 (67,279) 7,257,317
Fund Balance (deficit),
End of Year 5,702$ (67,279)$ 37,511$
Brink Meyer Lease Purchase Agreement Totals
Schedule 13
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
For the Year Ended December 31, 2021
Fund Balance - Budget and Actual
Debt Service Funds
63
Page 234 of 339
Schedule 14
Variance with
2021 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 587,108$ 587,108$ 672,672$ 85,564$
Total Revenues 587,108 587,108 672,672 85,564
Expenditures:
Parks and recreation 1,380,000 1,380,000 313,299 1,066,701
Total Expenditures 1,380,000 1,380,000 313,299 1,066,701
Excess of Revenues Over Expenditures (792,892) (792,892) 359,373 1,152,265
Other financing sources (uses):
Transfers in 650,000 650,000 - (650,000)
Transfers out (41,200) (41,200) (41,200) -
Total Other Financing Sources (Uses)608,800 608,800 (41,200) (650,000)
Change in fund balance (184,092)$ (184,092)$ 318,173 502,265$
Fund Balance, Beginning of Year 326,940
Fund Balance, End of Year 645,113$
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
Park Sales Tax Fund
For the Year Ended December 31, 2021
64
Page 235 of 339
Schedule 15
Variance with
2021 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Taxes 10,000$ 10,000$ 6,410$ (3,590)$
Total Revenues 10,000 10,000 6,410 (3,590)
Expenditures:
Community development 10,000 10,000 1,000 9,000
Total Expenditures 10,000 10,000 1,000 9,000
Change in fund balance -$ -$ 5,410 5,410$
Fund Balance, Beginning of Year 3,536
Fund Balance, End of Year 8,946$
CITY OF PARKVILLE, MISSOURI
Economic Development Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2021
65
Page 236 of 339
Schedule 16
Variance with
2020 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Grants and donations 2,500$ 2,500$ 5,486$ 2,986$
Other 4,200 4,200 4,724 524
Total Revenues 6,700 6,700 10,854 4,154
Expenditures:
Parks and recreation 4,200 4,200 4,190 10
Total Expenditures 4,200 4,200 4,190 10
Change in fund balance 2,500$ 2,500$ 6,664 4,164$
Fund Balance, Beginning of Year 257,721
Fund Balance, End of Year 264,385$
CITY OF PARKVILLE, MISSOURI
Nature Sanctuary Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2021
66
Page 237 of 339
Schedule 17
Variance with
2021 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Grants and donations 2,500$ 2,500$ -$ (2,500)$
Total Revenues 2,500 2,500 - (2,500)
Expenditures:
Parks and recreation 5,000 5,000 - 5,000
Total Expenditures 5,000 5,000 - 5,000
Change in fund balance (2,500)$ (2,500)$ - 2,500$
Fund Balance, Beginning of Year 15,107
Fund Balance, End of Year 15,107$
CITY OF PARKVILLE, MISSOURI
Parks Donations Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
For the Year Ended December 31, 2021
67
Page 238 of 339
Schedule 18
Variance with
2021 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Grants and donations 100,000$ 100,000$ 41,781$ (58,219)$
Total Revenues 100,000 100,000 41,781 (58,219)
Expenditures:
Parks and recreation 65,000 65,000 3,350 61,650
Total Expenditures 65,000 65,000 3,350 61,650
Change in fund balance 35,000$ 35,000$ 38,431 3,431$
Fund Balance, Beginning of Year 15,999
Fund Balance, End of Year 54,430$
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, 2021
68
Page 239 of 339
Schedule 19
Variance with
2021 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental -$ -$ 275,000$ 275,000$
Total Revenues - - 275,000 275,000
Expenditures:
Total Expenditures - - - -
Excess of Revenues Over Expenditures - - 275,000 275,000
Other financing sources (uses):
Transfers out - (275,000) (275,000) -
Total Other Financing Sources (Uses)- (275,000) (275,000) -
Change in fund balance -$ (275,000)$ - 275,000$
Fund Balance, Beginning of Year -
Fund Balance, End of Year -$
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
ARPA Fund
For the Year Ended December 31, 2021
69
Page 240 of 339
Schedule 20
Variance with
2021 Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Interest 5,350$ 5,350$ 1,943$ (3,407)$
Total Revenues 5,350 5,350 1,943 (3,407)
Expenditures:
General government - - - -
Total Expenditures - - - -
Excess of Revenues Over Expenditures 5,350 5,350 1,943 (3,407)
Other financing sources (uses):
Transfers out (16,863) (16,863) - 16,863
Total Other Financing Sources (Uses)(16,863) (16,863) - 16,863
Change in fund balance (11,513)$ (11,513)$ 1,943 13,456$
Fund Balance, Beginning of Year 599,230
Fund Balance, End of Year 601,173$
For the Year Ended December 31, 2021
Fund Balance - Budget and Actual
Fewson Fund
CITY OF PARKVILLE, MISSOURI
Schedule of Revenues, Expenditures and Changes in
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Schedule 21
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
Revenues:
Intergovernmental 4,872,796$ 7,572,296$ 1,594,180$ (5,978,116)$
Miscellaneous - - 13,000 13,000
Total Revenues 4,872,796 7,572,296 1,607,180 (5,965,116)
Expenditures:
Capital outlay 4,390,083 4,390,083 4,042,497 347,586
Debt Service:
Interest and fiscal charges - 89,414 86,664 2,750
Total Expenditures 4,390,083 4,479,497 4,129,161 350,336
Excess of Revenues Over Expenditures 482,713 3,092,799 (2,521,981) (5,614,780)
Other financing sources (uses):
Transfers in - 14,300 89,300 75,000
Transfers out (965,000) (2,288,802) (1,323,801) 965,001
Issuance of Certificates of Participation - 2,985,000 2,985,000 -
Issuance premium - 107,782 107,782 -
Total Other Financing Sources (Uses)(965,000) 818,280 1,858,281 1,040,001
Change in fund balance (482,287)$ 3,911,079$ (663,700) (4,574,779)$
Fund Balance, Beginning of Year 907,111
Fund Balance, End of Year 243,411$
For the Year Ended December 31, 2021
2021
CITY OF PARKVILLE, MISSOURI
Capital Projects Fund
Schedule of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual
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