HomeMy Public PortalAbout2008 - MRRL Auditors ReportMISSOURI RIVER REGIONAL
IBRARY
October 29, 2009
The Honorable John Landwehr
His Honor the Mayor
City Hall, 320 E. McCarty
Jefferson City, MO 65101
Dear Mayor Landwehr:
Enclosed is the 2008 Missouri River Regional Library audit report.
William I Rodgers
Director
www:mrri.org
If you have any questions about the enclosed report, please feel free to contact me at any
time.
Sincerely,
William J. Rodgers
Director
Enclosure
Mailing Address Administrative Offices Main Library
PO Box 89 209 Adams Street 214 Adams Street
Jefferson City, MO 65102-0089 Jefferson City, MO 65101 Jefferson City, MO 65101
573.634.6064 573.634.6064 573.634.2464
Fax: 573.634.7028 Fax: 573.634.7028 Fax: 573.634.7028
Osage County Library
1014 D Main Street, P6 Box 349
Linn, Missouri 65051
573.897.2951
Fax: 573.897.3815
TABLE OF CONTENTS .
PAGE"
INDEPENDENT AUDITORS' REPORT::.:...: .:..:....:.........:...::'......_....:.
12
MANAGEMENT'S DISCUSSION& ANALYSIS............ . .......:...... _
3 - 9
:. FINANCIAL.STATEMENTS:
., Statement of Net Assets.and Governmental Fund Balance Sheet ...................:..
10
Statement of Activities, and Governmental Fund=Revenues, Expenditures;
and .Changes- in Fund Balance .... ........: .... ........................
11
Notes to the -Financial Statements..............:..:...:..:............ .............
12'— 24
REQUIRED SUPPLEMENTARY INFORMATION:.
Statement of Revenues, .Expenditures and Changes in Fund
Balance - Budget'and Actual =General Fund::. : .....................
25 --27
Notes to the Budgetary. Comparison Information........:....... .....
28': .
Schedule of Funding Progress.. ..................... ...... -. ....
29
„ -
"
-Evers Conant', CPA"s,
Certified -Public. Accountants and Consultants - Elmer L. Evers
- Jerome L. Kauffman
Richard E. Elliott
Dale A. Sie6eneck
Keith L. Tdylor
Jo L. Moore
INDEPENDENT AUDITORS' REPORT
To the Board of Trustees of
MissouriRiver.Regional Library
Jefferson City, Missouri:: .
We.have.auditedahe accompanyirig,financial statements of the governmental activities, each major.
fund and discretely presented component- unit of Missouri River Regional :L- ibrary (the, Library) -
as of and for the .year ended December- 31, 20.08, which collectively, comprise the -Library's. basic
financial, . statements' .as.. listed, :.in ., the- table of, contents. `These -financial statements are the
responsibility,of the Library's management. Our responsibility is' to , express opinions - on ; hese .
financial. statements based on our audit.
We conducted ,our audit -in accordance with auditing. standards generally accepted in "the .United;
States of America. Those_standards require that we plan.and,peiform the.'audit to obtain reasonable
`assurance about whether the financial statements are free .of material misstatement.: Ari audit
includes, examining, .on a test basis, evidence supporting the .'amounts and disclosures 'in the,
financial statements: An .audit also includes assessing .°the. accounting .principles used and
significant. -estimates made by management, as well as-evaluatingthe overall financial. statement,
presentation. We believe that our audit provides areasonable basis, for our opinions: -
As discussed in Note 10 to the financial statement's, .management has not recorded book inventory
assets in governmental activities and,. accordingly, has not recorded depreciation "expense on those.
assets. Accounting principles ,generally. accepted in the United States of America require. that book
"inventory assets be .capitalized and depreciated; which would increase; the assets, net
as and
expenses -of the governmental activities. The. amount by which this departure wouldaffect the -
..•assets, net assets, and expenses of the governmental activities is not reasonably determinable.
In our opinion; becaus ',-of the effects of the matter. discussed in'.the preceding .paragraph, the'
- financial statements referred to above' do not .present fairly,, in conformity with - accounting -
principles generally accepted in -.the- United States of America, . the financial -position of the
governmental activities,of the Missouri River Regional Library -'as of'December 31, 2008,, andthe'
- changes iii`fihancial position thereof for the year then ended.
520 Dix. Road' -• . Jefferson City, Missouri 651.09 573/635-0227 FAX 573/634-3764
Village Green Shopping Center 1021 W. Buchanan Street, Ste. 10 • California, Missouri, 65018.= • 573/796.-3210..$'. Fm 573/796-3452
4571 Hwy.. 54, Suite A : •.Osage Beach', Missouri 65065 •' 573/348-41:41 FAX 573/348 0989
MerriberAGNAli¢ted Offices Worldwide
_ MISSOURI RIVER REGIONAL LIBRARY;
f Jefferson City, -Missouri
E MANAGEMENT'S DISCUSSION & ANALYSIS;.
FOR THE CALENDAR YEAR:ENDED DECEMBER°31, 2008
The discussion ' and 'analysis ,of the Missouri River Regional' Library's (the "Library") financial ,
performance -provides-an ovetall::review ,of the Library's financial_ activities for the calendar: year
ended December: 31, 2008::. The intent .of this -discussion ,and analysis is _to 'look at ;the Library's ,
'financial performance :as a -:whole; readers should: also review the :basic financial, 'statements ,to,,,
l enhance.their understanding of the Library's financial performance...
FINANCIAL' 'HIGHLIGHTS
Key financial highlights for -,2008 are as follows:. ,
• ._ The _Library's liquid "assets of cash andinvestments,, of $1,176,673 eincreased over -the
course -of theY
ear's operation by $2,041 or..l .73 percent.
-
I • Renovations"to.'the: main_ aibrary were completed. in. 2008with the. installation'.of
- - ADA: accessible . desks at- Reference and' in the. Public -Computer Center ...and the
` - completion of interior .painting: " Ergonomic office furniture including -chairs for all staff `
and desks for .some staff .was also purchased in :2008. The `local Master ;Gardeners
completed_a landscaping. project in front of the main library next. to the entrance.. > The, .
Master en their time with -the library paying -for materials and. plants; .
:.'. • Emphasis was :given-to.sttengthening"" the libiary'-s:budgets�for..program imng and public
information Program' attendance increased over 30%o during the -year .
,
hone surveY �of ,citizens -in -Cole and`:Osage, County regarding library services: was t
P_
conductedwin late 2008. Results of the surveywill be;available'in-early.2009.
:. - . .
1. • The Missouri River- Regional `Library Foundation is included -as a`,component unit of the
-Library.-for -.fliianc,ial reporting'';purposes,in 2008.
Overview of -the Financal-Statements•
This annual .report consists.- of a _ series of . financial statements. and notes to those statements..
These statements .are .prepared and :organized sothe reader can ;understand the Library as . a..
financial .whole • or as; .an entire -operating entity: The statements then proceed : to ` provide an.
;increasingly detailed look at the Library's specific financial. -conditions.
The Librar . - because- it his a 's ecial.- 'u ose . overnment .'engaged' in a siri le overnmental .
Y� p, p.� gg, g
program,-has.elected to'prese.nt4the government=wfinancial. nancial=-statements._and. the fund
fin ancial'statements combined..
3•
MISSOURI RIVER REGIONAL LIBRARY
Jefferson City, Missouri
STATEMENT OF NET ASSETS AND GOVERNMENTAL FUND BALANCE SHEET
December 31, 2008. _
Statemeht'of Net Assets
Adjustments
Primary .
- Component_.
—
:General.Fund
-' (Note 2)
Government '
Unit
- . • ASSETS
. Cash and Investments
1,176;672.63'
-
1,176,672:63
10,883:1'9:
' Property. Tax Receivable; net
2,461,204.74 ."
- -
2,461;204:74
-
Interest Receivable -
16,48
-
76.48: ;
-
Other Assets
4,200.00
-
4,200,00 .
-
Land -and Construction in Progress'
-
422;944.00 ' '
.. 422,944.00
-
• - Other Capital Assets, net -of Accumulated Depreciation -
-
1,007,408.24 ' .;
1,007;408.24
Total Assets
3,642,153.85
'1,430;352.24
5,072,506.09
10,883.1 9 '.
— LIABILITIES
Accounts -Payable- .
-,
55,521.39
-•
55,521.39
-
Deferred Revenue
.'2,739,886.39.
(32,630:51)':
2,707,255.88 '
Compensated Absences
-
171,039.74 •..
171,039.74
-
Total Liabilities
2,795,407.78'
138,409.23
2;933,81.7.0,1
FUND BALANCES/NET ASSETS
_
Fund :Balance:
— Unreserved, Undesignated, .._ ..
846,746.07
:: (846,746.07.)"
-
-
,Total Fund Balances : =
846,746:07
(846,746.07)
-
Total Liabilities and Fund Balances
.3;642,153.85
Net Assets: .....
_ .
Invested in Capifal Assets ' ` -
I;430,352.00 :
-1,430,3.52.00
Unrestricted"
708,337.08' '
708,337,.08'
10,883.19
Total.Net Assets
2,138,09.08 -
2,138,689.08:
.. 10,883.19 `
y The accompanying notes are an integral part• of these
financial statements.'
10
MISSOURI RIVER REGIONAL LIBRARY
Jefferson City, Missouri
STATEMENT OF ACTIVITIES AND GOVERNMENTAL FUND REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE
For -the year ended December 31, 2008
.
Statement.of Activities
- _-_
Adjustments
Primary,
Component
' -
General Fund
(Note'3)
Government
Unit
EXPENDITURESBXPENSES:
Library Services'
- 2,754;360.88
1 176,100.67
2,930,461.55
-
Capital Expenditures -
126,454.74
(118,626.80)
7,827.94
-
Toundation Expenditures
-
- .
-
7,307.83
.Total Expenditures/Expenses
2,880,815:62
57,473:87,
2,938;289.49
7,307.83
PROGRAM REVENUES:
Charges for Services
831162.62
-
83"1162.62,
-
_ Donations and Grants
78,676.29
-
78,676.29
8,806.00:
Net Program Expense _
(2,776,450.58)
8,806.00
GENERAL REVENUES:
.Property Taxes ..
2,664,984.18
15,851.88
2,680,836.06
Investment Income
•43,816.58
-
43,816.58
45,53 .- ..
Miscellaneous;
10,564.69
-
10,564.69
-
Gain (Loss) on Disposal of Assets
-
. (6,443.13)
(6,443.13)
-
" "Total General Revenues
2,719,365.45
9,408.75'
2;728;774:20
45:53
Excess of Revenues over
(under) Expenditures
388.74
(388.74)1
-
-
Change- in Net Assets :
-
(47,676.38)
(47,676.38)
1,543.70
Fund Balarice1Net Assets;Beginning of Year
846,357.33
.1,3.40,008.13
2,186,365.46
9,339.49
Fund Balance/Net Assets; End of Year
846,746.07
1,291,943.01
2,138;689.68
10,883.19
The accompanying notes are an integral part of these financial statements:
-
.11
.MISSOURI RIVER.REGIONAI� LIBRARY
7effersori`City;lVlissour
NOTESXO'THE FINANCIAL STATEMENTS
For The Year Ended December 31., 2008
i.AUSSOURI,RIVER-REGIONAL'LIBRARY--.,
JeffersonCity; Missouri
NOTES TO THE' FINANCIAL STATEMENTS
t_ For The Year Ended-December=31,; 2008
.. NOTE 1 ORGANIZATION AND. -SU1U1% OF"SIGNIFICANT' - ACCOUNTING
POLICIES:. (Cont'd:)
1 miirement Focus :Bmis of Accounting and Financial StatenientWesehtation
The accounts of the Library are : organi"zed " and operated on ahe basis-: of fiinds A fund is an
independent fiscal and accountuig entity with;a self balancing set:of accounts._, Fund' accounting,,,
separates _,funds °according totheir intended purpose_':: andis� used- : to aidmanagement m'
demonstrating compliance wiih;finance=related-legal and:contractual-provisions - The minimum
numbef of funds are maintained, consistent with=legal and riianagerial requirements
-The Library hasthe following fund type:
Governmental Funds- are -used_ to, account for the government's general governmental
activities: The. L' ibrary has 'one governmental � fund; the General; Fund ,'The General Fund is
the,Library's operating fund. It accounts:for all financial resources of the Library.
The government -wide financial statements(ie.,,the statement of net -assets and:the.statement of
activities) report .information on ,.all - of the non=fiduciary' activities_ of 'the •'Library. The '-'
government -wide � financial statements are. reported, using the economic ;resources `measurement
focus and the accrual basis, of accounting : Revenues are recorded when earned and expenses are
recorded when a .liability is incurred, regardless of the timing of related cash- flows.. Property
= taxes are •recognize_as revenues in the_ -year for Which they are budge"ted:' They. are recorded as
`- deferred;revenues in the year in. which they' are levied Grants and airiilar .items are recognized.
5 _ as revenue, as soon as,all eligibility requirements --imposed by..'the provider have been met.
The fund financial 'statements -emphasize major governmental funds, each displayed in a, separate
column: -_ Governmental fund financial. `statements_. are; _accounted ,for using a _ current financial
resources. measurement,' -focus - and . the..modified ''accrual . basis of-accouritmg., : With this
1 measurement focus, only ,current assets and current liabilities_ generally are_ included. -on' the.,-`
I ! balance sheet,_ The statement of revenues, •exp:enditures'and:changes ui_fund-.balances-reports bnl.
the sources (i.e , revenues,' and other financing sources) and uses (i e.; . expenditures and :other
r_ financing,uses) of curreut.financial-resources:•. This: approach differs from'the manner ri which
'the. -governmental` activities: of the government -wide financial statements: are prepared. Since the ,
governrrientat fund: financial .statements .and .:government -wide °financial statements' are
combined; an adjustment- column1s provided_to,show the' reconciliation -between the two, sets of `
financial-statemenis. The note the 11' cial �statemerits'.further. describe the'adjustments:by, ..
rovidin brief ex lanations to better Jdenti the-relatioriship between the government -Wide
p. g -explanations
statements and,thb-stitements for governmentalfunds....
MISSOURI RIVER REGIONAL LIBRARY
Jefferson City, Missouri-.
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended December 31, 2008
NOTE -1 — ORGANIZATION AND SUMMARY -OF SIGNIFICANT ACCOUNTING
POLICIES:. (Cont'd.)
_Estimates
The preparation of financial. statements in accordance with accounting principles generally
accepted in the United States -of America requires management to, make estimates and
assumptions that affect certain reported amounts and disclosures. Accordingly, actual results
could differ from those -estimates.
Capital Assets
The accounting treatment for property, plant and equipment (capital assets) depends on, whether
the assets are reported in the government -wide or fund financial statements.
'Government -Wide Statements
In the government -wide financial statements capital assets .'are valued at historical cost, or'
estimated. historical. cost if actual is unavailable, except for donated capital- assets, which are
recorded at their estimated fair value at the date of donation.
Depreciation of all exhaustible capital assets is recorded.'as an expense in the Statement of
Activities; with accumulated depreciation reflectedin the Statement of Net Assets. 'Depreciation•
is provided over the assets' estimated useful lives using the straight-line method of depreciation.
The range of estimated useful lives by type of assets is as follows:
Building and Equipment 20 -,45 .years
Furniture and Equipment 5 - 20 years
Automation 3 —10 years
Vehicles 5 —15 years
The minimum capitalization threshold is any item with a total cost greater than $250 for 2008.
Starting in 2009, the threshold will be $1,000.
The costs -of normal maintenance and repairs that do not add value to the assets or materially,
extend the asset's life are not capitalized. The Library does not possess any infrastructures.
Fund Financial Statements
In the fund financial statements, capital assets used in"_governmental fund operations are
accounted for as capital outlay expenditures of the governmental- fund upon acquisition. -
15
J MISSOURI RIVER REGIONAL LIBRARY
Jefferson City, Missouri
NOTES TO, THE FINANCIAL STATEMENTS
For The ,Year Ended December 31, 2008
NOTE 1 = ORGANIZATION. AND .SUMMARY OF SIGNIFICANT, ACCOUNTING
POLICIES: (Cont'd.)
Compensated Absences
Accumulated paid time off is accrued monthly. Employees accrue twenty days per year during
the first five years of service; increasing to a maximum of twenty-eight days after fifteen -years of
- employment. The maximum accrual allowed to be carried forward is sixty days.
All employees also receive six days:per year catastrophic leave with unlimited accrual. There is
no payment of accrued catastrophic. leave upon termination;' therefore an accrual has not been
- made in the financial statements.
The. liability for compensated absences is not recorded in the fund financial statements since it is
anticipated -that the liability will not be liquidated with currently available financial resources.
Accrued Liabilities and Long -Term Obligations
All. payables, accrued liabilities and long-term obligations are reported in the government -wide
financial;statements.
In general, payable and accrued liabilities that will be paid from governmental funds are reported
on the governmental fund financial'statements regardless of whether they, will be liquidated with -
current financial resources. However-, special termination- benefits that -will be .paid from
governmental funds are reported as a liability in the fund financial statements only to the .extent
that they -will .be. paid with .current,. expendable, . available financial resources.., In ,general,
liabilities that mature or come due for payment duringthe fiscal• year are.considered to have been
-made with current available financial. resources. Other long-term obligations that will be paid
from governmental funds are not recognized as a liability in the Tand financial statements until
due.
- 16
MISSOURI RIVER REGIONAL'LIBRARY
Jefferson City, Missouri
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended December 31, 2008
NOTE 1 ORGANIZATION AND SUMMARY OF ' SIGNIFICAN.T ACCOUNTING
POLICIES: (Cont'd.)
Net Assets. .
Net assets represents the difference between assets and liabilities. Net assets .invested in capital
assets, net of related debt consists -of capital assets, net of accumulated depreciation, reduced. by
the outstanding - balances of any borrowings used for the acquisition,' construction, or
improvement of those assets. Net. assets are reported as. restricted when there are limitations
imposed on their use either through .the. enablinglegislation adopted by the Library or. through,
-external restrictions imposed by creditors, grantors or laws or regulations of other governments.
All other- net assets are reported as - unrestricted.. The Library applies restricted- resources first
when an.expense is incurred for purposes for which both restricted and unrestricted net assets are
available.
NOTE 2 —RECONCILIATION OF THE, GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET ASSETS:
Total Fund Balance — governmental funds ..................................
$ 846,746
Amounts reported for governmental activities in the
Statement of Net Assets are different because:
Capital assets used in governmental activities are not
Financial resources and therefore are not reported in the
funds. The cost of the assets is $3,728,429 and the
accumulated depreciation -is $2,298,077 ................ .. ...........
1,430,352
Property taxes, and other receivables will be collected .
this year, but are not available to pay for current -period .
expenditures and therefore are deferred in the funds........, .................. .
.32,631
Long-term -liabilities are not due and payable in -the current
period and therefore are not'reported in the funds as follows:
Compensated absences
-(171,040)
NET ASSETS OF GOVERNMENTAL ACTIVITIES ..........................
2 138 689
17'
....MISSOURI RIVER REGIONAL LIBRARY
Jefferson Missouri
-NOTES TO ,THE FINANCIAL STATEMENTS
For The Year_Erided D.ecember.31;:20.08
18
NOTE ..3:. = RECONCILIATION OF : THE . STATEMENT.
'
OF REVENUES.,. ;
_.
EXPENDITURES . AND- -CHANGES' - IN: FUND . BATANCES -.: OF :GOVERNMENTAL ... .
- _ FUNDS TO THE STATEMENT OF.. ACTIVITIESc.:.
_ EXCESS OF REVENUES OVER (UNDER) EXPENDITURES
" TOTAL GOVERNMENTAL FUND BALANCES
389
- Amounts reported for goyernmental activities' in the
Statement of Activities are. differentbecause • .
Capital outlays are reported as, expenditures in the
governmental -:However; in the Statement of
Activities; the cost of capital assets is allocated over . . ,
their estimated.us 'u' lives as depreciation expenses, ...:
hi the current period, these amounts are
Capital -Assets .purchases,. ... $ 1-. .27
Depreciation expense 156 859)
Total .., .....
(38,232)
Revenues in the" Statement of Activities that do not provide
_
'current financial.resources are not reported: as revenues) in
✓. -
.
'; the fixnds.—deferred tax revenue:......
15;852
In the Statement' of Activities;. the loss or gam on the
'sale, or dispos dYd capital assets is recognized . The -
,
fund financial statements recognize only the proceeds
co _
- from assets. The amounts are as follows:
Gain/(loss) ori disposal of capital assets.. (6,443
Total
(6,443) .
Some expenses reported in the Statement of Activities
do -.not require the use -of current financial. resources
and are not reported'as expenditures in
-governmental funds _These activities consist of .
- - _ . Increase in compensated absences ..'
J-19,242).
f __I EXCESS OF REVENUES -OVER (UNDER): EXPENDITURES `
.OF GOVERNMENTAL ACTIVITIES...47
676
18
MISSOURI RIVER REGIONAL,LIBRARY
-Jefferson City, Missouri
NOTES TO.THE FINANCIAL STATEMENTS
,For The Year Ended December 31, 2008- .
NOTE 4-- DEPOSITS AND INVESTMENTS:
The Library's investments at December 31, 2008 consist of the following:
Fair . Less .Than -
Investment Type Value - One Year
Repurchase agreements. $1,203,280 $1,203;280...
Custodial Credit Risk— For an investment; custodial credit -risk is the risk that, in the event of the
failure" of the counterparty, the -organization will not ' be " able to recover the value. of its
investments or collateral securities -that are in the possession of an outside -.party. Repurchase -
agreements had, a .bank -balance. of $ t,203,280 at December 31, 2008 and are -not covered by
FDIC but are backed by.pledged securities. All of the organizations investments are. held by
investment's counterparty, not in 'tle name of the organization.
Investment Interest Rate Risk .— The Organization, has. no formal- investment policy that limits
investment maturities as a means of managing its exposure to fair value losses -arising from
increasing interest rates. Maturities; of investments held at December 31, 2008 are less_than one
year..
Investment Credit Risk --The Library, has no investment policy that limits its investment choices
_ other than the limitation of state law as follows:
Missouri Statutes and legal opinions authorize the Library to . invest in certain types of
investments including, but not limited to, collateralized --public deposits (certificates of
'deposit), U.S. Treasury and federal agency securities; and repurchase agreements.
Collateral is required for demand, deposits and certificates of deposit.- The market value
of the collateral must equal .at least " 100% of deposits not. covered by federal deposit
insurance. Securities underlying a repurchase agreement must.have a market value of at
_least 100% of the, cost.'of .the repurchase agreement: Obligations pledged to secure
deposits are. delivered to the banks -joint -custody account at the Federal Reserve Bank.
Concentration of Investment Credit Risk —.The, Library places -no limit on the amount it may
invest, in any one issuer. At December 31, 2008, all of the Library's investments were held at
one financial institution.
19
MISSOURI RIVERREGIONAL-LIBRARY "=
7efferson :City,lVlssouri:
MISSOURI RIVER REGIONAL LIBRARY
: -Jefferson City, Missouri
- NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended December 31; 2008
NOTE 12 - PROPERTY; PLANT AND EOUIPMENT:
Property, plant and equipment and accumulated Aepreciati6n by -major class are as -follows at
December 31, 2008:
Beginning Balance
Increases
Decreases.
Ending Balance
Governmental -type activities:
Capital assets, not being -depreciated:
j.Land.
$ .. 322,095
$ - $
-.
$ 322,095
-- Construction in Progress
349,032
-
248,183
100,849
Total capital ,assets, not being
depreciated
671,127
-
248,183
422,944
Capital assets, being depreciated:
Building and Equipment
1622,048
279,715.
- .
1,901,763
Automation
531;850
58,368-
3,235 -
586,983
Furniture and. Equipment
558,434
28,730
131256
5731907
Vehicles
252,110
-
.9,278
242,832"
Total capital assets, being
--' depreciated
2,964,442.
366,812
25,769
3,305,485
Less accumulated depreciation for:
Building and Equipment_
1,184,189
41,948
-
1,226,.137
Automation .
439,876"
54;006
1,938
491,944
Furniture and Equipment
454,080
25,752
11,587
468,244 -
Vehicles
82,396
35,154
5,798'-
111,752
-" - Total accumulated depreciation
2,160541
156,859
19,323
2;298,077
Total capital assets; being depreciated,
net
803,901 1
209,953
-61446
1,007,408
Governmental -type activities. capital assets,
net
$ -. 1,475,028
$ . " 209.;953. $
254,629
$ 1,430,352
Total depreciation expense for 2008 was $156,859.
24
;
MISSOURI RIVER REGIONAL,LIBRARY, - -
Jefferson City,'Missouri
STATEM-ENT'OF REVENUES,.EXPENDITURES AND CHANGES IN FUND BALANCE =
BUDGET AND ACTUAL `GENERAL. FUND
_ For the year ended December -31, 2008 _
25
Variance
Original .
Final ,-
Favorable
Budget
Budget -
Actual
(Unfavorable)
REVENUES
= Tax -Revenue
-2,667,635.00
2,667,635.00.
:1;646;785..89
(20,849.11),_
State .Aid -
46;452.00.
46,452.00 _ .
. " : -' 46,452.45
0.45.
;Athlete &Entertainers8,000.00
1,8,1.98.00
;18;198.29:
0.29
,Investment Income
80,000:00
80,000.00
43,816:58
(36,183.42)
Tines-
42,000.00
.- 42,000.00 . -,
_ - .45,677.74
3,677.74 `
Grants
-
12,571.00.
12,571.00 _
_
Lost Books and'Cards.
-
-
7,213:29,
7,213:29
-Photocopy Revenue
12,5.00.00
1'2;500.00 :_
1.1,744-.20-,''.
-(755.80)
Book Sale Revenue
13;000.00 -- .
13,000.00
18,527.39
5,527.39
Miscellaneous, ; - -
9,000.00-
- 16,711.00.
10;564:69 " ; '
_ (6,146.31) ,
Gift Receipts
-
19,404'.00 -
19,652.84 ..
248:84
Transfer.from Reserves
-
5.4,637:00. ',
-
.-(54,637.00):
-Total Revenues"
2,878,587.00:
2,983,108.00 :.
"2;8&1,204:36
(101;903.64)
EXPENDITURES `
- .
Personnel Related: •
-
- _
Administration
361;584.24
'-361,584.24:
36,1,549:39'„
34.85
Network & Automation -Services
102,657.76
102,657.76..
- 87,597.66. .
. ' _] 5,060.1'0
Childrens. :'
" 148,442:68 ,'
• "- 148 442.68
- 150,201.96, ' -
(1759.28)
Reference ., . `
: 215,730.08
215,730.08.
"-. 235,804.50' '`
(20,074.42)
` Circulation:
229;059.20
:229,059.20
234,975.45.
(5;916:25)
Outreach
91,9.81.20
9.1,981.20
91,096.80
884.40
'Technical Services
197,477,00
-_1:97,477.00
197,105:33• '
37]-:67
. ; Osage Branch . '.
63,763..16'
63,763.16
57,954.70
5,808.46 -
Employee Relations
4,250.00
-5,450.00.
5,435.99
'14:01
Tuition Benefit
3000.00
3,000.00
-
3,000.00
Employee Assistance-
2,000.60
2;000.00 =
-
2,000.00
Payroll'Benefits=EmpliFICA
107;920.60
;.107,920.60: -
107;281'.98•
638:62
Payroll Benefits-Retirement'136;987.92
1"3.6;987:92.
-129,642.92
7,345.00
Payroll Benefits -Insurance
2161512.16
21,6,512.16.
192,352.04.
24,160.12•'
Payroll Benefits-Cafeferia Plan Expense
-
-
300:00' '
(300.00)
_ Unemployment.Expense
- -
3,500.00-
3,468.21.,
31:79
Total Personnel Related
1,881,366.00 . -:
1,886,066.00
-:,1,8541766.93.
31,299:07
25
MISSOURI RIVER'REGIONAL LIBRARY"
Jefferson City, Missouri
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE -
BUDGET AND ACTUAL-GENERAL•FUN D.
For the year -ended December 31, 2008
26
-Variance
Original
-"Final
Favorable
`
Budget'
Budget
Actual
(Unfavorable)
EXPENDITURES. (Continued)
Books and Materials:
Adult Books -Non Fiction
54,000.00.
54,000.00
54,912.13
: (912.13)
Adult Books -Fiction
56,000.00
-51,000.00
50,997.37
2.63
Adult Books=Reference.
35,000.00.'.
40,000.00
47;148.58(7,148.58)
Adult Non-Book-Period/News
26,325.00
26,325.00
22;646.07.
3,678.93
AdultNon-Book-Audio
32,000.00
32,000.00
28,189.71
3,810.29
Adult Non -Book -Video
22;000.00
23,000.00
22,861:27
138.73
Adult'N6n-Book-Ref Online
35,329..00
40,529.00.
31;968.21
8,560.79
AdultNon=Book-Mircoforms
41641.00
--4,641.00
4,820.40
(179.40)
Teen Books
8,000.00-
000.00
6,827.77
1,172.23
Juvenile -Book -Non Fiction
26,000.00
281,500.00
29,844.00:
(1,344.00)
Juvenile Book -Fiction
29,000.00
31;198..00 :
29,919.48
1,278.52
-- Juvenile Book -Reference
2;500.00
2,500.00
2,900.66
(400.66)
Juvenile Non -Book -Periodical
1,500.00
1,500.00.
1,291.24
208.76
Juvenile Non-Book=Media
18,000.00
18;000.00
17,519.52
480.48
Public Use -Software. -
2000.00
2;000.00
-
2,000.00
Filtering Software License.
500.00
500.00- ..
529.98
(29.98)
Intemet.Access/Real Project
10,200.00
10,200.00
9,925.78
274.22
MOBIUS Fees
-8;000.00
2;800:00
- -
2,800.00 .
-, OCLC-Cataloging
20,937.00
20,937.00
19,473.32
1,463.68
Interlibrary Loan
1,727.00
11727.00
1,791.67.
(64.67) -
Rebinding . ;
50.0.00
500.00
-
500.00
Collection Agency Fees
81030.00.
8;030.00
6,300.80
1,729.20
Total Books -and Materials
402;389.00
407,887.00
389,867.9.6
.18,019.04
Library- Departmental Overhead:
B6okhiobile: OPER-BM
9,000.00
9,000.00
11,273.34-1,
(2,273.34)
Library Automation Contracts
42,195.00
42,195.00 :.
40,63114 ''
- 1,5.63:86
Library Supplies
34,024.00
34,024.00
25,832.56
8,191.44;
Photocopy
11,000.00'
. 11,000.00
11,774.99 '
(774.99) -
.99)-Programming=Adults
Programming Adults
25380.00
:48,970.00
44,941.00.
4,029.00
Programming-Childrens
16,656.00
16,650.00'
20,217.88
(3,56.7.88)
Programming -Osage
51070.00
5,07.0.00.
41862.06
207.94.
Programming -Teen
3,600.00
3-,600.00,
3,527.49
72.51
Public. Information
34,368:00
34,868.00
34,374.52
493.48
Recruitment
2,000.00
2,000.00
4,28`1.16
(2,281.16)
- Travel &Associations
18,500.00
18;500.00
19,11418
(614.88)
Volunteer Recognition
200.00
200.00 _
-
200.00
Total Library Deptannental Overhead =
201,987.00
;" 226;077.00
: 220,831.02"
.-5,245.98
26
MISSOURI RIVER REGIONAL LIBRARY _
Jefferson City,. Missouri
STATEMENT. OF RE_ VENUES; EXPENDITURES AND CHANGES IN FUND ,BALANCE'-
BUDGET AND ACTUAL -GENERAL FUND .`
For the year:ended December 31,2008 .
:. .
Yanance .:.
• .- _ .. -
- ._
Original
Final.
Favorable .
=
Budget
Budget
Actual = (Unfavorable)
Overhead:
Bank Charges
1,400.00
1;400.00
1,301.10
98.90
Consultant -Buildirig Fund
3,500.00
3,500.00
-
3,500.00
Custodial Contract:. Branch '" .
4;000.00 '.
4,000:00
3,757:08
242.92 ,
Custodial Supplies
--5,500.00"
5,;500,00
5,630.85
(130.85), .
Delivery.Service-
4,600:00 ,-
,4,600:00
-A,700.00,
(100.00)
- Insurance -Business
45,000.00
45;000.00
28;835 32 '
16,164.68 ;
Maintenance -Building &Equipment
27,000:00 -
27;500.00` :
30,196.74 ..
(2,696.74)
_ Maintenance -Furniture & Equip.._
11-,800.00
11,800.00
9,400.08 ' ' .
2,399.92
Office Automation Contracts
10,500.00
10,500:00 . '
-5;964.96_
4,535.04'
Office Supplies
10;500:00
10,500:00
7,596.02
72,903.98 .
Postage
= 20,500.00=- _
20,500.00
21.,600:99
(1,10099)
Professi6nal=Services-
4,000.00.
9,000.00 -
13,577.95.
(4,577.95) ..
Rent -Osage
18,000.00
1.8,000:00='
18,000.00.
-
Rent -Parking
2-;520.00-`2,520.00
-
2,520.00
- - Rent -Weldon'` -
51,650.00 ` '
5.1,650.00
50,400:00
1,,250.00 "
Telephone
-15;000.00
15,000.00
11,673.72.
3,326.28
Utilities=
_ 70;000,00
- 70,000.00
71,998.22 '
(1,998.22)-
Vehicle Operation/Passe_ nger
4,500.00'
4,500.00 •.
4;261.94-
238.06
_, .. .. Total Overhead
3.14,970.00
315,470.00
288,894.97
26;575.03--"
Capital. Expenditures;,
;
Building &Building Equipment
10000:00
10,000,00
1'50.00 ".
9,850:00
Contingency
6,500.00.
6,500.00
-
6,500..00
Computer Equipment & Software
:50,000.00
62,571.00
65,868.14
(3,297.14),-
Library Furniture & Equipmept• -..
J3'4lJ-.0:Qt1
A1,685.84 .,.
1,725.16_
Off ce Furniture & Equipment- - .
= 5,000.00
A7,220.00. -
17,219.8.4
Aft Gallery_Renovations ,:
-1,000.00:
1;000.00° .,
-
1;000:00
Bar CodeScanners825.00:
825.00
-
825.00
Receipt Printers
1,750.00_
1,750.00
-
1,750.00.
Bookmobile Graphic Upgrades
,2;000.00
2,000.00
-
_ 2,000.00
Backstops-childrens .
800.06
800.00
-
800.00
_Main Library Renovation.
-
31',531.00 ;
31,530.92
0:08
' Total `Capital Expenditures
77;875:00
-147,608.00
126,454.74.
21,153.26
Total -Expenditures- -'
2,878,582:00
2,983,108:00.. _ .•
2,880,815:62 .':;
- .102;292.38
' Ezcess•of Revenues over Expenditures.
-
-
3.88.74
388:74 `
Fund Balance,.Beginning of Year
J` Fund Balance, End of Year. • •
-846,746.07
27
MISSOURI RIVER REGIONAL LIBRARY
Jefferson City, Missouri
NOTES_ TO THE.REQUIRED SUPPLEMENTARY INFORMATION
For The Year Ended December 3'1; 2008
NOTE 1-BUDGETARY BASIS=OF ACCOUNTING:
Annual budgets are adopted on a basis consistent with accounting principles generally accepted in
-' the United States-of America for all governmentaLfunds. All annual appropriations: ;lapse. at fiscal
year. end: Encumbrance ' accounting is employed in the governmental fluids.. Encumbrances (e g ,
purchase orders, contracts) outstanding- at year-end are reported. as-reservations of.fimd balances'and
do not constitute expenditures or liabilities because the commitments will be re-appropriated and
honored during the subsequent year. Budget amendments must be authorized by the" Board of .
Trustees..
-- The following procedures are followed in establishing the budgetary data reflected in the financial
statements:
a) Budget work "sessions are conducted by management.
b) A preliminary budget is presented-to the Finance Committee.
C) Final changes to the budget are made.,
d) 13September 1, thetax levy. is set-by the Board ofTrustees and, submitted to the Missouri
State- Auditor for- approval.
e) Property tax revenues-are -budgeted based upon the previous year's assessed valuations _and.
- tax levies set-by the -Board of Trustees.,
f) • By October 1:5;Ahe final budget proposal is presented to the-Board.of Trustees.
g) Budgetary control is maintained ,at the expenditure- category level. Transfers between,
categories as iisted4h the financial statements require Board approval:
'h) Budget amendments can be approved. by :the Board .of Trustees, during the year on, an, as '
needed basis. Budget amounts, are as originally adopted," or'. as amended by the Board..
Individual amendments were not material in relation to the original- appropriations that were
amended.
Expenditures may not legally exceed budgeted appropriations at the- .f ind level.-
28
evel:28
- MISSOURI RIVER REGIONAL LIBRARY
Jefferson City; Missouri
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION
For The Year Ended December 1, 2008
Schedule of Funding Progress
The following required supplementary information relates to the Missouri River Regional Library's'
participation in Missouri LAGERS, an agent multiple -employer public. retirement system.
Schedule of Funding Progress
[(b-a)/c]
(b) (b -a). UAL as a
(a). Entry Age Unfunded ; (c) Percentage.
Actuarial Actuarial Actuarial Accrued (a/b) Annual of
Valuation _ Value Accrued Liability Funded Covered Covered -
_ Date -cif-Assets Liability :. (UAL) Ratio'— Payroll Payroll
02/28/06 422,523 884,943. 462,420 : = 48%- .1,013,040 46%
02/28/07 568,270 1,003,198 434;928 57% 1,006,338 43%
02/29/08- 773,929 1,157,154 383;225 _ 67%. . 1,072,414, 36%
Note: The above assets •and actuarial accrued liability: do not include the'assets andpresent value of benefits
associated with the Benefit Reserve Fund and the Casualty Reserve Fund. The actuarial assumptions "were '
changed in. -conjunction with the February 28, 2006:annual actuarial valuations.. For -a complete description
of the actuarial assumptions used- in the annual valuations, please contact the LAGERS office in Jefferson
City: :.. =