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Selected portions of the City's most recent audit for the fiscal year ended June 30, 1996, is included in
<br />this Official Statement asAppendix B. A summary of the City's significant accounting policies is contained in
<br />the Notes accompanying the financial statement in Appendix B.
<br />
<br />Combined Statement of General Fund Revenues, Expenditures and Changes in Fund Balance
<br />
<br />REVENUES Taxes
<br /> Charges for City services
<br /> Intergovernmental aid
<br /> Licenses, permits, fines, and fees
<br /> Investment income
<br /> Miscellaneous
<br /> TOTAL REVENUE
<br />
<br /> Year Ended June 30
<br />1996 1995 1994
<br />
<br />$ 2,394,645 $ 2,281,238 $ 2,292,018
<br />3,028,286 2,605,106 2,594,701
<br />6,491,961 6,904,834 6,078,324
<br />5,006,604 4,541,050 4,777,480
<br />392,526 232,604 86,461
<br />643,062 388,045 302,598
<br />$17,957,084 $16,952,877 $16,131,582
<br />
<br />EXPENDITURES:
<br /> Current:
<br /> General government
<br /> Public safety
<br /> Highway and streets
<br /> Sanitation
<br /> Cultural and recreation
<br /> Capital outlay
<br /> Debt service:
<br /> Principal retirement
<br /> Interest and fiscal charges
<br /> TOTAL EXPENDITURES
<br /> EXCESS (DEFICIENCY) OF REVENUES
<br /> OVER EXPENDITURES
<br />
<br />$ 3,066,841 $ 2,649,654 $ 2,559,534
<br />7,224,389 6,856,210 6,651,550
<br />2,570,296 2,555,355 2,440,698
<br />1,808,664 1,395,304 1,365,573
<br />1,788,050 1,794,635 1,625,108
<br />1,046,289 264,937 233,932
<br />
<br />9,456 9,266 8,522
<br />433 666 1,367
<br />$17,514,418 $15,526,027 $14,886,284
<br />
<br />$ 442,666 $ 1,426,850 $ 1,245,298
<br />
<br />OTHER FINANCING SOURCES (USES) - OPERATING
<br /> TRANSFERS IN (OUT)
<br />EXCESS (DEFICIENCY) OF REVENUES AND OTHER
<br /> FINANCING SOURCES OVER EXPENDITURES
<br /> AND OTHER FINANCING USES
<br />
<br />-0- -0- -0-
<br />
<br />$ 442,666 $ 1,426,850 $ 1,245,298
<br />
<br />Fund balances:
<br />Beginning of year (as restated) 2,541,223(1) 3,279,387 2,034,089
<br />End of year $ 2,983,889 $ 4,706,237 $ 3,279,387
<br />
<br />(1) On March 26, 1996, the Missouri Supreme Court declared Missouri's local use tax invalid. The City had
<br /> previously recognized receipts from this tax as revenue under the "susceptible to accrual" criteria after the
<br /> local use tax was upheld by the U.S. Supreme Court in late 1994. Since the announcement of the March
<br /> 26, 1996 Missouri Supreme Court decision, the City has reassessed the nature of the local use tax
<br /> resources and has determined that these funds do not meet the "susceptible to accrual" revenue recognition
<br /> criteria because the amount of any future refund claims cannot be determined and is therefore not
<br /> measurable as defined by G.A.S.B. Accordingly, an adjustment was made to decrease the general fund
<br /> balance as of July 1, 1995 by $2,165,014 and to increase deferred revenue by a like amount.
<br />Source: City's Comprehensive Annual Financial Reports for the fiscal years ended June 30, 1994, 1995 and 1996.
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