HomeMy Public PortalAbout2014 PAFRCity of Jefferson
Missouri
Popular Annual Financial Report
For the fiscal year ended October 31, 2014
A Message from the Director of Finance
Table of Contents
City History 2
The Governing Body 2
City Demographics 3
Economic StaƟsƟcs 3
By the Numbers 4
Financial AcƟvity Statements 5
Where Does the Money Come From? 6
Where Does the Money Go? 7
Which Agencies Share Sales Tax Revenue? 8
Sales Tax Rate Comparison 8
Where Does Property Tax Go? 9
Authorized Full Time City Staff 9
Outstanding Debt 9
City of Jefferson CiƟzens,
In our ongoing effort to inform the City of
Jefferson ciƟzens about the state of the city
finances, we are pleased to present the 2014
Popular Annual Financial Report (PAFR).
The report is reflecƟve of our commitment to
preserving the city’s long‐term financial
health and is intended to summarize the
financial acƟviƟes of the City’s funds reported
in the Comprehensive Annual Financial
Report (CAFR). It contains informaƟon only
from selected funds and excludes the City’s
component unit. A copy of the CAFR is
available on the city’s website at ww.jeffcitymo.org/finance/financial.html
To the best of our knowledge, the informaƟon presented herein is accurate
in all material respects and presents fairly the financial posiƟon and results of
operaƟons for the fiscal year ending October 31, 2014. Responsibility for the
accuracy, completeness and fairness of the data presented rests solely with
the city. The PAFR is prepared in accordance with the Government Finance
Officers AssociaƟon standards.
We hope you find this report informaƟve and we welcome your comments
and quesƟons. CiƟzens may keep apprised of the state of the city finances by
reviewing the monthly financial reports posted to the home page of the city
website at www.jeffcitymo.org under the Current Events heading.
Sincerely,
Bill BeƩs
Director of Finance and InformaƟon Technology
Page 1 ‐ City of Jefferson Popular Annual Financial Report 2014
Bill BeƩs, Director of Finance and
InformaƟon Technology
City of Jefferson History
The City of Jefferson is the capital of Missouri and the county seat of
Cole County. Located on the banks of the Missouri River in the center of
the State, the City of Jefferson is the hub of state government which is
the City’s largest employer and its major industry.
The City was established by an act of the U.S. Congress on December
31, 1821 and was originally laid out by Daniel M. Boone, son of the fa‐
mous pioneer, and Major Elias BancroŌ. It has the disƟncƟon of being
located on land donated by the federal government for establishment
of the state capital city. Many of the original seƩlers came from Virginia
in the vicinity of MonƟcello, the home of Thomas Jefferson, and were,
in fact, friends of the former President. The City of Jefferson, named in
his honor, was incorporated in 1825, four years aŌer its founding. The
City of Jefferson operates under the ConsƟtuƟon and laws of Missouri,
and a City Charter adopted in 1986.
Rick Prather Jim Branch
J. Rick Mihalevich Laura A. Ward Ken Hussey Bob Scrivner
Glen Costales Carlos M. Graham
Larry Henry Mark Schreiber
Carrie Tergin, Mayor
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Page 2 ‐ City of Jefferson Popular Annual Financial Report 2014
The Governing Body
Steven S. Crowell,
City Administrator
City Demographics and Economic Statistics
Year Incorporated: 1825
Form of Government:
Mayor‐Council‐City Administrator
LocaƟon: Central Missouri
Total Land Size: 37.58 square miles in both Cole
and Callaway CounƟes
PopulaƟon of City of Jefferson: 43,079 (2010
Census)
Company Employees
State of Missouri 14,466
ScholasƟc, Inc. 2,182
Capital Region Medical Center 1,430
Jefferson City Public Schools 1,337
SSM Health—St. Mary’s Hospital 1,022
Walmart Supercenter 955
Central Bank 862
ABB Power T & D Company 680
Jefferson City Medical Group 583
Lincoln University 500
City of Jefferson Top 10 Employers
7796
7637 7525 7462
7597 7698
8039 8017
8163 8231
7000
7200
7400
7600
7800
8000
8200
8400
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
School Enrollment
3.5%3.6%3.9%
4.5%
6.7%6.6%6.1%
5.1%
4.8%
3.9%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Unemployment Rate
$50,548
Median Household Income
38.2
Median Age
Page 3 ‐ City of Jefferson Popular Annual Financial Report 2014
BY THE NUMBERS
Police calls for service ‐ 60,526
Number of fire calls answered ‐ 4,582 Average daily number of wastewater
gallons treated ‐ 5,890,000
Center line miles of streets –253
Number of playgrounds – 13
Number of parks – 17
Business licenses issued (new
& renewal) ‐553
Total number of permits issued
(building, electrical, plumbing,
sign and demoliƟon) ‐ 1,041
Number of snow removal hours—4,187
Page 4 ‐ City of Jefferson Popular Annual Financial Report 2014
F i n a n c i a l A c t i v i t y S t a t e m e n t s f o r Y e a r s E n d e d
O c t o b e r 3 1 , 2 0 1 3 a n d O c t o b e r 3 1 , 2 0 1 4
Enterprise Funds ‐ The financial acƟviƟes for the Airport,
Parking, Transit and Wastewater are recorded in enterprise funds for
the City of Jefferson and are financed primarily by user fees and charges
for services provided to ciƟzens. Currently the Parking and Wastewater
funds are self‐sufficient, while the Airport and Transit funds receive a
subsidy from the City of Jefferson’s general fund.
Governmental Funds ‐ Governmental acƟviƟes, which
normally are supported by taxes and intergovernmental revenues, are
recorded in governmental funds for the City of Jefferson. City of
Jefferson major governmental funds include the General Fund, the
Parks Fund, and Capital Improvements Sales Tax Funds. The City of
Jefferson also has several nonmajor governmental funds including the
Police Training Fund, the Lodging Tax Fund, the Stoneridge TDD Fund,
the JC Veterans Plaza Trust Fund, the City Hall Art Trust Fund, the USS
Submarine Trust Fund, the Woodland Cemetery Trust Fund, and the
Firemen’s Pension Fund. The City’s basic services, including police,
fire, streets, public works, and planning and protecƟve services are
accounted for in these funds, as are administraƟve services within the
city such as human resources, finance, and informaƟon technologies.
Revenues 2013 2014
Sales and other user taxes $20,213,180 $21,125,412
Property taxes $5,237,547 $5,190,969
Utility/Franchise taxes $7,289,415 $7,670,316
License, permits and fees $750,254 $828,254
Intergovernmental $3,953,313 $5,642,708
Charges for services $4,187,634 $4,000,927
Fines and forfeitures $994,220 $1,008,406
Governmental Funds
Contributions $188,663 $209,725
Miscellaneous $223,279 $297,817
Investment earnings $391,884 $352,551
Total Revenues $43,429,389 $46,327,085
Expenditures by Function 2013 2014
General government $6,478,306 $5,940,300
Public safety $15,819,408 $15,871,211
Community development $6,784,987 $8,537,749
Cultural and recreation $5,413,554 $5,400,290
Capital outlay $7,135,462 $8,902,901
Debt service (principal and interest) $0 $391,801
Total Expenditures $41,631,717 $45,044,252
Other Financing Sources (Uses): 2013 2014
Proceeds from sale of assets $309,986 $48,010
Transfers in $347,618 $23,122
Transfers out $(1,227,018) $(855.212)
Net Change in Fund Balances $1,228,258 $498,753
Fund Balances, beginning $18,827,768 $20,056,026
Fund Balances, ending $20,056,026 $20,554,779
Enterprise Funds
Revenues 2013 2014
Airport revenues $152,071 $132,126
Parking revenues $1,066,293 $1,088,052
Transit revenues $256,716 $259,635
Wastewater revenues $9,293,028 $9,581,526
Total Operating Revenues $10,768,108
,103
$11,061,339
Operating Expenses 2013 2014
Airport expenses $588,690 $611,165
Parking expenses $821,907 $849,525
Transit expenses $2,519,755 $2,696,652
Wastewater expenses $7,505,013 $7,670,814
Total Operating Expenses $11,435,365 $11,828,156
Non‐Operating Revenues
(Expenses)
2013 2014
Intergovernmental $1,377,829 $1,131,889
Interest and investment revenue $1,384,357 $1,335,880
Interest expense and fees $(1,602,774) $(1,653,983)
Debt issuance cost $0 $(300,299)
Total Non‐Operating Revenues
(Expenses)
$1,163,008 $623,126
Gain/(Loss) on sale of capital assets $3,596 $109,639
Income (loss) before
contributions and transfers
$495,751 $(143,691)
Capital contributions $450,107 $1,082,360
Transfers in $897,210 $832,090
Change in Net Position $1,843,068 $1,770,759
Net Position, ending $60,667,607 $61,801,633
Net Position, beginning $58,824,539 $60,667,606
Cumulative change in accounting
principle
$0 $(636,732)
Net Position, beginning‐as restated $58,824,539 $60,030,874
Page 5 ‐ City of Jefferson Popular Annual Financial Report 2014
Where does the money come from?
Governmental Funds
Revenues 2014
Sales and other user taxes $21,125,412
Property taxes $5,190,969
UƟlity/Franchise taxes $7,670,316
License, permits and fees $828,254
Intergovernmental $5,642,708
Charges for services $4,000,927
Fines and forfeitures $1,008,406
Investment earnings $352,551
ContribuƟons $209,725
Miscellaneous $297,817
Total Revenues $46,327,085
Sales and other user
taxes, 45.6%
Property taxes, 11.2%
Utility/Franchise taxes,
16.6%
License, permit and
fees, 1.8%
Intergovernmental,
12.2%
Charges for services,
8.6%
Fines and forfeitures,
2.2%
Investment earnings,
0.8%
Contributions,
0.5%
Miscellaneous,
0.6%
Taxes generate a majority of the City’s revenue and 45.6% is
generated by taxes levied for sales and other user taxes. The City’s
sales taxes include 1% general fund sales tax, a 1/2% capital
improvement sales tax, and a 1/2% parks sales tax
Intergovernmental revenues represent 12.2% of the City’s total
revenue and includes motor vehicle sales tax and license fees, the
receipts from the State for fuel tax, as well as cigareƩe taxes and
grant funds.
Charges for services include fees charged by Parks and RecreaƟons
as well as charges for various city services including, but not limited
to, street cuts, Cole County 911 services, and Cole County Animal
Rescue.
Fines and forfeitures include fines collected by Municipal Court.
License, permit and fees includes revenues from building, plumbing,
and electrical permits, as well as business and liquor licenses and
food inspecƟon fees.
Investment earnings includes revenue earned from the investment
of idle City funds throughout the year in accordance with the City’s
investment policy.
Page 6 ‐ City of Jefferson Popular Annual Financial Report 2014
ContribuƟons include revenue donated from ciƟzens to
various City programs, as well as revenues received as part
of exisƟng contracts intended to assist in maintaining
certain infrastructure.
Miscellaneous revenue includes proceeds from insurance
claims.
Where does the money go?
Expenditures by FuncƟon 2014
General government $5,940,300
Public safety $15,871,211
Community development $8,537,749
Cultural and recreaƟon $5,400,290
Capital outlay $8,902,901
Debt service (principal and interest) $391,801
Total Expenditures $45,044,252
Governmental Funds
5,940,300
15,871,211
8,537,749
5,400,290
8,902,901
391,801
‐ 4,000,000 8,000,000 12,000,000 16,000,000
General government
Public safety
Community development
Cultural and recreation
Capital outlay
Debt service (principal and interest)
2014 Governmental Funds ‐Expenditures by Function
The expenditures for governmental acƟviƟes totaled
$45,044,252 for 2014. The largest category of expenditure is
for Public Safety and represents 35.2% of all governmental
acƟviƟes.
Public safety includes all operaƟons of the Police and Fire
departments.
Capital outlay expenses are 19.8% of the total and include all
capital purchases and capital projects of the governmental
funds.
Community development expenditures include expenditures
for Public Works and Planning and ProtecƟve Services,
including Streets and Central Maintenance.
General government expenditures include AdministraƟon,
Law, Municipal Court, Human Resources, Finance, and
InformaƟon Technology.
Page 7 ‐ City of Jefferson Popular Annual Financial Report 2014
Cultural and RecreaƟon expenditures include
Parks AdministraƟon and all Parks faciliƟes and
programs.
Debt service includes principal and interest
payments for the City’s outstanding notes and
leases.
Which agencies share sales tax revenue?
State of Missouri,
4.225%
City of Jefferson ‐
General, 1.0%
City of Jefferson ‐
Capital Improvement,
0.5%
City of Jefferson ‐
Parks, 0.5%
Cole County, 1.5%Total sales tax collected in the City
of Jefferson is 7.725%
Breakdown of Sales Tax Rate
The City’s sales tax rate of 7.725% is comparable to surround‐
ing ciƟes and is divided among 3 different taxing enƟƟes. The
State of Missouri receives 4.225%, Cole County receives 1.5%,
and the City of Jefferson receives 2%.
Of the City’s 2% sales tax, 1% is for the General Fund
operaƟons, 0.5% is for the Capital Improvements Sales Tax
Fund, and 0.5% is for the Parks Fund.
The total sales tax the City received in fiscal year 2014 was
$19,854,123.
Municipality Sales Tax Rate
Columbia, MO 7.975%
Lake Ozark, MO 8.225%
Linn, MO 7.475%
California, MO 7.975%
Sales tax rate comparison
Ashland, MO 7.975%
Eldon, MO 8.125%
Holts Summit, MO 8.725%
Page 8 ‐ City of Jefferson Popular Annual Financial Report 2014
Where does property tax go?
422 422 426 426
411
400
410
420
430
2010 2011 2012 2013 2014
Authorized Full Time City
Staff
Authorized full Ɵme equivalent employees decreased
in fiscal year 2014 due to the fact that some posiƟons
were eliminated from the budget that became vacant
in a previous fiscal year when the City offered a
SeparaƟon IncenƟve Program to eligible staff.
Outstanding Debt 2010‐2014
$42,725,397 $40,697,896 $38,580,394
$44,995,309
$58,408,863
$‐
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
$70,000,000
2010 2011 2012 2013 2014
Outstanding Debt as of 10/31/14
The outstanding debt at the end of fiscal year 2014 totaled $58,408,863 and was all associated with Wastewater
Sewerage System Revenue Bonds. During the 2014 fiscal year the City issued an addiƟonal $15,875,936 in
Wastewater Sewerage System Revenue Bonds and reƟred $2,552,000 in Wastewater Sewerage System Revenue
Bond principal payments.
Page 9 ‐ City of Jefferson Popular Annual Financial Report 2014
A City of Jefferson homeowner with a home that has a
$150,000 market value paid $1,407.62 in real estate
taxes in 2014 with 11.26% going to the City of
Jefferson.
The informaƟon in the City of Jefferson Popular Annual Financial Report is taken from the City
of Jefferson Comprehensive Annual Financial Report (CAFR).
A copy of the CAFR is available online at www.jeffcitymo.org/finance/financial.html
City of Jefferson
320 E. McCarty Street
Jefferson City, MO 65101
573‐634‐6320 phone
573‐634‐6329 fax
www.jeffcitymo.org
City of Jefferson, Missouri