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HomeMy WebLinkAboutCAFR-June-30-2020 City of Paducah Paducah, Kentucky Comprehensive Annual Financial Report Year Ended June 30, 2020 Issued by the Finance Department Government Auditing Standards Pension Obligation Costs Floodwall Restoration Better Utilizing Investments to Leverage Development (BUILD) Grant. Tax Increment Financing District (TIF). e Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to City of Paducah Kentucky For its Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2019 Executive DirectoriCEO -10- Management’s Responsibility for the Financial Statements Auditor’s Responsibility Government Auditing Standards Opinions Other Matters Required Supplementary Information Other Information Code of Federal Regulations Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards Government Auditing Standards Government Auditing Standards Government Auditing Standards Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments Accounting and Financial Reporting for PensionsAccounting and Financial Reporting for Postemployment Benefits other than Pensions (OPEB Fund Balance Reporting and Governmental Fund Type Definitions Nonspendable fund balance Restricted fund balance Committed fund balance Assigned fund balance Unassigned fund balance Exhibit 1 Component Unit Paducah Governmental Business-type Water Works Current Assets:Activities Activities Total Authority Cash and cash equivalents 19,601,042$ 2,610,567$ 22,211,609$ 1,593,491$ Investments 30,174,917 1,500,000 31,674,917 - Receivables, net: Notes 1,358,133 - 1,358,133 - Accounts 8,403,468 539,469 8,942,937 1,843,818 Grants 823,549 - 823,549 - Interest 85,153 1,453 86,606 - Property tax 6,172,426 - 6,172,426 - Other - - - 790,347 Internal balances (630,101) 630,101 - - Inventory 506,220 13,857 520,077 957,645 Prepaid expenses 1,473,229 - 1,473,229 69,036 Other current assets 19,503 - 19,503 332,241 Total current assets 67,987,539 5,295,447 73,282,986 5,586,578 Noncurrent Assets: Notes receivable 4,914,272 - 4,914,272 - Capital assets: Land and construction in progress 16,400,791 68,886 16,469,677 1,333,061 Depreciable capital assets 51,521,778 2,396,667 53,918,445 56,991,431 Cash, designated - - - 8,379,398 Other assets - - - 202,350 Total noncurrent assets 72,836,841 2,465,553 75,302,394 66,906,240 Total assets 140,824,380 7,761,000 148,585,380 72,492,818 Deferred Outflows of Resources: Deferred pension related outflows 12,774,143 633,307 13,407,450 1,968,192 Deferred OPEB related outflows 6,148,615 287,958 6,436,573 839,277 Deferred charges on refunding 189,117 - 189,117 - Total deferred outflows of resources 19,111,875 921,265 20,033,140 2,807,469 See accompanying notes to the basic financial statements. CITY OF PADUCAH, KENTUCKY STATEMENT OF NET POSITION JUNE 30, 2020 ASSETS -29- Primary Government Component Unit Paducah Governmental Business-type Water Works Current Liabilities:Activities Activities Total Authority Voucher and accounts payable 2,093,549 224,453 2,318,002 1,019,713 Accrued payables 1,558,894 46,216 1,605,110 1,038,814 Unearned revenue 41,875 41,486 83,361 - Accrued compensated absences 1,220,773 102,853 1,323,626 331,766 Accrued interest 329,398 - 329,398 - Notes payable due within one year 326,817 - 326,817 466,249 Bonds payable due within one year 2,295,000 - 2,295,000 - Replacement reserve - - - 202,350 Other current liabilities - - - 170,678 Total current liabilities 7,866,306 415,008 8,281,314 3,229,570 Noncurrent Liabilities: Accrued compensated absences 915,502 29,431 944,933 - Landfill post-closure costs - 2,062,500 2,062,500 - Net pension liability 64,689,678 3,034,452 67,724,130 8,496,902 Net other post employment benefits liability 15,991,768 725,563 16,717,331 2,031,499 Notes payable 6,039,168 - 6,039,168 5,764,421 Bonds payable 35,746,738 - 35,746,738 - Total noncurrent liabilities 123,382,854 5,851,946 129,234,800 16,292,822 Total liabilities 131,249,160 6,266,954 137,516,114 19,522,392 Deferred Inflows of Resources Deferred revenues - property taxes 5,921,785 - 5,921,785 - Deferred pension related inflows 2,409,509 78,033 2,487,542 335,983 Deferred OPEB related inflows 5,001,425 265,662 5,267,087 723,983 Total deferred inflows of resources 13,332,719 343,695 13,676,414 1,059,966 Net invested in capital assets 57,368,777 2,465,553 59,834,330 52,093,822 Restricted for: Housing and development projects - - - - Capital projects & infrastructure 732,616 - 732,616 - Public safety 208,525 - 208,525 - Unrestricted (42,955,542) (393,937) (43,349,479) 2,624,107 TOTAL NET POSITION 15,354,376$ 2,071,616$ 17,425,992$ 54,717,929$ -30- LIABILITIES NET POSITION Primary Government Exhibit 2 FUNCTIONS/PROGRAMS Operating Charges for Grants and Primary Government:Expenses Services Contributions Governmental activities: General government 10,574,490$ 1,946,225$ 540,461$ 339,689$ Public safety 27,623,826 348,524 758,226 466,513 Public service 7,491,652 981,243 596,504 700,332 Parks and recreation 3,597,301 50,677 16,500 587,240 Planning and development 2,049,447 - 885,238 99,200 Interest on long-term debt 1,026,449 - 203,790 - Total governmental activities (See Note 1) 52,363,165 3,326,669 3,000,719 2,192,974 Business-type activities: Solid Waste 5,302,783 4,738,408 14,001 - Section Eight Housing 1,620,623 299 1,889,338 - Civic Center 57,990 15,423 - - Transient Boat Dock 83,834 72,788 - - Total business-type activities 7,065,230 4,826,918 1,903,339 - TOTAL PRIMARY GOVERNMENT 59,428,395$ 8,153,587$ 4,904,058$ 2,192,974$ Component Unit: Paducah Water Works Authority 11,293,549$ 12,398,149$ -$ 897,675$ TOTAL COMPONENT UNITS 11,293,549$ 12,398,149$ -$ 897,675$ General revenues: Taxes and licenses: Property taxes, levied for general purposes Insurance premium tax Gross receipts license tax Employee license tax Franchise tax Telecommunications tax Vehicle tax Bank tax Transient room tax Other taxes Unrestricted investment earnings Sale of assets Total general revenues Transfers Total general revenues and transfers Change in net position Net position - beginning Net position - ending See accompanying notes to the basic financial statements. FOR THE YEAR ENDED JUNE 30, 2020 STATEMENT OF ACTIVITIES Program Revenues Capital -31- CITY OF PADUCAH, KENTUCKY Grants and Contributions Component Unit Governmental Business-type Paducah Water Activities Activities Total Works Authority (7,748,115)$ -$ (7,748,115)$ -$ (26,050,563) - (26,050,563) - (5,213,573) - (5,213,573) - (2,942,884) - (2,942,884) - (1,065,009) - (1,065,009) - (822,659) - (822,659) - (43,842,803) - (43,842,803) - - (550,374) (550,374) - - 269,014 269,014 - - (42,567) (42,567) - - (11,046) (11,046) - - (334,973) (334,973) - (43,842,803) (334,973) (44,177,776) - - - - 2,002,275 - - - 2,002,275 5,670,956 - 5,670,956 - 4,712,859 - 4,712,859 - 4,307,270 - 4,307,270 - 21,490,918 - 21,490,918 - 135,383 - 135,383 - 711,289 - 711,289 - 706,928 - 706,928 - 344,841 - 344,841 - 790,534 - 790,534 - 371,387 - 371,387 - 610,727 68,177 678,904 141,546 - 72,986 72,986 13,544 39,853,092 141,163 39,994,255 155,090 466,050 (466,050) - - 40,319,142 (324,887) 39,994,255 155,090 (3,523,661) (659,860) (4,183,521) 2,157,365 18,878,037 2,731,476 21,609,513 52,560,564 15,354,376$ 2,071,616$ 17,425,992$ 54,717,929$ Net (Expense) Revenue and Changes in Net Position Primary Government -32- FUND FINANCIAL STATEMENTS Exhibit 3 Special General Fund Assets Cash and cash equivalents 8,194,118$ 1,666,839$ 3,342,034$ Investments 5,500,000 - 1,500,000 Receivables: Accounts 8,916,693 - 67,000 Grants 474,831 - 348,718 Interest 52,394 - - Property taxes (net of allowances for uncollectibles)6,212,426 - - Inventory - - 453,398 Prepaid items - - - Due from other funds 19,503 1,267,448 - Total Assets 29,369,965$ 2,934,287$ 5,711,150$ Liabilities Voucher and accounts payable 648,193$ -$ 1,062,646$ Accrued payroll and payroll taxes 1,413,958 - - Due to other funds 1,267,448 - - Due to other taxing agencies 82,401 - - Unearned revenue - other 7,302 - 10,800 Accrued compensated absences 133,839 - - Total liabilities 3,553,141 - 1,073,446 Deferred Inflows of Resources Unavailable revenue-property taxes 6,172,191 - - Fund Balances: Nonspendable Inventory - - 453,398 Restricted for: Highways and streets - - - Public safety - - - Capital improvements - - - Committed for: Capital improvements - 2,934,287 - Pension reserve 670,365 - - Assigned for: Public safety - - - Debt service - - - Capital improvements - - 4,184,306 Unassigned: General Fund 18,974,268 - - Total fund balances 19,644,633 2,934,287 4,637,704 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES 29,369,965$ 2,934,287$ 5,711,150$ See accompanying notes to the basic financial statements. General Capital CITY OF PADUCAH, KENTUCKY BALANCE SHEET GOVERNMENTAL FUNDS JUNE 30, 2020 Revenue Investment -33- Fund Improvements Debt Service Fund 771,289$ 1,372,794$ 15,347,074$ 500,000 19,674,917 27,174,917 - 207,698 9,191,391 - - 823,549 966 - 53,360 - - 6,212,426 - - 453,398 273,229 273,229 - - 1,286,951 1,272,255$ 21,528,638$ 60,816,295$ -$ 235,479$ 1,946,318$ - 47,760 1,461,718 - - 1,267,448 - - 82,401 - - 18,102 - - 133,839 - 283,239 4,909,826 - - 6,172,191 - - 453,398 - 732,616 732,616 - 208,525 208,525 - 19,977,142 19,977,142 - - 2,934,287 - - 670,365 - 327,116 327,116 1,272,255 - 1,272,255 - - 4,184,306 - - 18,974,268 1,272,255 21,245,399 49,734,278 1,272,255$ 21,528,638$ 60,816,295$ Nonmajor Governmental Funds Total Funds -34- Governmental Exhibit 4 Total fund balance - total governmental funds 49,734,278$ Amounts reported for governmental activities in the Statement of Net Position are different because: 210,406 5,039,622 30,452 67,922,568 189,117 (5,001,425) 6,148,615 (2,409,509) 12,774,143 11,700,941 See accompanying notes to the basic financial statements. (Continued) -35- Deferred refunding costs and deferred pension activity in governmental activities are not current financial resources or payables and,therefore, are not reported in the governmental funds balance sheet: Capital assets used in governmental activities are not current financial resources and,therefore, are not reported in the governmental funds balance sheet.This amount includes capital assets of Internal Service Funds. Deferred refunding costs Deferred pension related inflows Deferred OPEB related inflows Deferred OPEB related outflows Deferred pension related outflows CITY OF PADUCAH, KENTUCKY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO STATEMENT OF NET POSITION Delinquent property taxes receivable are not reported in the governmental funds balance sheet since they are not considered "available" revenues. Interest receivable on the long-term notes receivable is not reported on the governmental funds balance sheet since neither the note receivable nor the interest is available to pay current period expenditures. JUNE 30, 2020 The long-term notes receivable are not reported in the governmental funds balance sheet since they are not available to pay current period expenditures. Exhibit 4 (Continued) (1,950,904)$ (329,398) $ 2,621,817 122,467,352 (125,089,169) 8,952,991$ (237,310) (630,101) 8,085,580 NET POSITION OF GOVERNMENTAL ACTIVITIES 15,354,376$ See accompanying notes to the basic financial statements. JUNE 30, 2020 Long-term pensions,OPEB,bonds and notes of ($125,089,169)are not due and payable in the current period and,therefore,they are not reported in the governmental funds balance sheet.The long-term pensions, OPEB, bonds and notes are: CITY OF PADUCAH, KENTUCKY RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO STATEMENT OF NET POSITION The portion of accrued compensated absences not due and payable in the current period, and therefore,not reported in the governmental funds balance sheet. Accrued interest payments on debt are not due and payable in the current period and,therefore, are not reported in the governmental funds balance sheet. -36- Due within one year Due after one year Current assets Net amount allocated to Internal service funds are used by management to charge the costs of certain activities,such as insurance and fleet management,to individual funds. The assets and liabilities of the Internal Service Funds (net of amount allocated to business-type activities)not included in other reconciling items are: Current liabilities business-type activities Exhibit 5 Special Revenue General General Investment Capital Revenues:Fund Fund Improvements Taxes 7,459,369$ -$ -$ Licenses 25,697,596 5,264,573 - Charges for services 599,713 - - Intergovernmental - - 77,000 Grants 1,199,879 - 1,406,324 Interest 360,363 - 1,430 Property upkeep, rentals, sales and other 1,196,293 - 329,970 Total revenues 36,513,213 5,264,573 1,814,724 Expenditures: Current operations: General government 5,083,231 - - Public safety 18,859,081 - - Public service 5,456,245 - - Parks and recreation 3,240,206 - - Planning and development - 988,462 - Intergovernmental and other 431,505 - - Capital outlay - - 6,205,364 Debt service: Principal requirement - - - Debt issuance costs - - - Interest requirement - - - Total expenditures 33,070,268 988,462 6,205,364 Excess (deficiency) of revenues over expenditures 3,442,945 4,276,111 (4,390,640) Other Financing Sources (Uses): Issuance of bonds - - - Issuance of notes payable - - 463,262 Discount on debt issued - - - Transfers in 1,134,619 275,078 4,408,846 Transfers out (4,117,010) (3,969,270) (306,500) Total other financing sources (uses)(2,982,391) (3,694,192) 4,565,608 Net change in fund balances 460,554 581,919 174,968 Fund balances - beginning 19,184,079 2,352,368 4,462,736 Fund balances - ending 19,644,633$ 2,934,287$ 4,637,704$ See accompanying notes to the basic financial statements. -37- CITY OF PADUCAH, KENTUCKY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2020 Debt Service Fund -$ 1,192,724$ 8,652,093$ - - 30,962,169 - 319,181 918,894 738,424 489,823 1,305,247 - 226,454 2,832,657 26,792 106,864 495,449 602,921 476,305 2,605,489 1,368,137 2,811,351 47,771,998 - - 5,083,231 - 1,840,487 20,699,568 - 1,182,530 6,638,775 - - 3,240,206 - 988,034 1,976,496 - - 431,505 - 181,628 6,386,992 2,763,738 - 2,763,738 - 182,105 182,105 812,040 - 812,040 3,575,778 4,374,784 48,214,656 (2,207,641) (1,563,433) (442,658) - 20,520,000 20,520,000 - - 463,262 - (64,666) (64,666) 2,315,091 1,547,514 9,681,148 - (698,831) (9,091,611) 2,315,091 21,304,017 21,508,133 107,450 19,740,584 21,065,475 1,164,805 1,504,815 28,668,803 1,272,255$ 21,245,399$ 49,734,278$ Governmental Total FundsFunds Nonmajor Governmental -38- Exhibit 6 Net change in fund balances - total governmental funds 21,065,475$ Amounts reported for governmental activities in the Statement of Activities are different because: 5,253,907 (476,178) 30,357 (8,040,254) (20,983,261) (118,254) (3,342,723) See accompanying notes to the basic financial statements.(Continued) -39- The payments of pension and OPEB contributions require the use of current financial resources and,therefore, are reported as expenditures in governmental funds.However,the current year payments are deferred outflows of resources in the government-wide statements and accrued pension and OPEB expenses are recorded when incurred. Proceeds of the issuance of debt provides current financial resources and is reported as an other financing source in governmental funds. Payments on property taxes recognized as revenues when received in the governmental funds and as levied in the government-wide statements.This is the amount of cash collections that exceeded accrued property tax revenues. Only the loss on the disposal of capital assets is reported in the Statement of Activities,whereas in the governmental funds, the proceeds from the sale increases financial resources.Thus, the change in net position differs by the net book value of capital assets disposed. CITY OF PADUCAH, KENTUCKY RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2020 Collections on long-term notes receivables and related interest receivable are revenues in the government funds when collected. 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 as depreciation expense.This is the capitalized amount of capital outlays in the current period. This amount includes Internal Service Fund's capital outlays of $750,245. Depreciation expense on capital assets is reported in the government-wide Statement of Activities and Changes in Net Position, but does not require the use of current financial resources. Therefore, depreciation expense is not reported as an expenditure in governmental funds. This amount includes Internal Service Funds' depreciation expense of $846,924. Exhibit 6 (Continued) 2,763,729$ (218,211) (90,620) 66,477 521,485$ (52,269) Capital Outlays (750,245) 846,924 565,895 CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES (3,523,661)$ See accompanying notes to the basic financial statements. RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND Governmental funds report the effect of bond premiums,discounts and refunding costs when debt is issued, whereas these amounts are deferred and amortized in the Statement of Activities. TO THE STATEMENT OF ACTIVITIES Long-term accrued compensated absences do not require the use of current financial resources and,therefore, are not reported as expenditures in governmental funds. Principal payments of debt require the use of current financial resources and, therefore, are reported as expenditures in governmental funds.However, principal payments of debt do not affect net position in the government-wide Statement of Activities. Accrued interest payments on debt do not require the use of current financial resources. Interest expense is reported net of the change in accrued interest payable in the government-wide Statement of Activities. CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2020 CITY OF PADUCAH, KENTUCKY -40- Internal service funds are used by management to charge the costs of certain activities,such as insurance and fleet management,to individual funds. The net revenue of the Internal Service Funds is reported with governmental activities net of the amount allocated to business-type activities and depreciation expense. These amounts are as follows: Change in net position business-type activities Depreciation expense Net of amount allocated to Exhibit 7 Variance with Final Budget Positive Original Final (Negative) Revenues: Taxes: Real and personal, current year 6,183,000$ 6,183,000$ 6,145,329$ (37,671)$ Real and personal, prior year 100,000 100,000 134,589 34,589 Franchise 175,000 175,000 135,383 (39,617) Bank taxes 322,000 322,000 344,841 22,841 In lieu of tax payment 310,000 310,000 314,145 4,145 Penalty, interest and advertising 53,000 53,000 57,242 4,242 Paducah Junior College tax collections - - 327,840 327,840 Total taxes 7,143,000 7,143,000 7,459,369 316,369 Licenses: Business licenses 4,590,000 4,590,000 4,307,270 (282,730) Employee earnings 16,620,000 16,620,000 16,226,345 (393,655) Cable franchise fees 302,000 302,000 337,718 35,718 Penalties 210,000 210,000 139,785 (70,215) Alcoholic beverages 145,000 145,000 148,345 3,345 Insurance premium tax 4,400,000 4,400,000 4,712,859 312,859 Building permits 160,000 160,000 145,508 (14,492) Electrical permits 40,000 40,000 44,206 4,206 Zoning change fees 7,000 7,000 8,295 1,295 Miscellaneous building and electrical fees 5,000 5,000 4,160 (840) Payroll tax sharing with County (406,120) (406,120) (376,895) 29,225 Total licenses 26,072,880 26,072,880 25,697,596 (375,284) Charges for services: Tax collection fee 200,000 200,000 204,735 4,735 Administrative charge 311,280 311,280 313,780 2,500 Base court revenue 35,000 35,000 30,520 (4,480) Recreation fees 116,000 116,000 50,678 (65,322) Total charges for services 662,280 662,280 599,713 (62,567) See accompanying notes to the basic financial statements.(Continued) ActualBudgeted Amounts -41- CITY OF PADUCAH, KENTUCKY GENERAL FUND FOR THE YEAR ENDED JUNE 30, 2020 Amounts STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Exhibit 7 (Continued) Variance with Final Budget Actual Positive Original Final Amounts (Negative) Grants: Police State Incentive 410,000$ 410,000$ 377,531$ (32,469)$ Fire State Incentive 380,000 380,000 333,900 (46,100) Police supplemental grants 30,000 30,000 7,099 (22,901) Other grants - - 481,349 481,349 Total grants 820,000 820,000 1,199,879 379,879 Interest 412,500 412,500 360,363 (52,137) Other: Property rent and sales 699,700 699,700 684,457 (15,243) Property upkeep and maintenance 116,520 116,520 111,764 (4,756) Contractual programs 2,000 2,000 1,446 (554) E911 - GIS 32,100 32,100 32,101 1 Miscellaneous 126,000 139,190 366,525 227,335 Total other 976,320 989,510 1,196,293 206,783 Total revenues 36,086,980 36,100,170 36,513,213 413,043 Expenditures: General government: General administration: Mayor and Commissioners 215,835 207,415 204,124 3,291 City Manager 631,860 706,480 682,816 23,664 City Clerk 426,920 418,495 398,473 20,022 Corporate Counsel 184,870 188,810 158,481 30,329 Non-departmental 1,253,385 1,085,605 968,961 116,644 Memberships and contingency 28,500 29,235 25,795 3,440 Civic beautification 3,000 3,000 2,842 158 Total general administration 2,744,370 2,639,040 2,441,492 197,548 Finance: Finance administration 299,180 300,650 293,527 7,123 Accounting and payroll 488,115 411,840 385,992 25,848 Revenue collection 465,860 460,725 418,730 41,995 Total finance 1,253,155 1,173,215 1,098,249 74,966 See accompanying notes to the basic financial statements.(Continued) CITY OF PADUCAH, KENTUCKY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN Budgeted Amounts GENERAL FUND FOR THE YEAR ENDED JUNE 30, 2020 FUND BALANCE - BUDGET AND ACTUAL -42- Exhibit 7 (Continued) Variance with Final Budget Actual Positive General government:Original Final Amounts (Negative) Planning: Administration 225,645$ 239,245$ 230,009$ 9,236$ Planning 525,680 461,343 356,144 105,199 Total planning 751,325 700,588 586,153 114,435 Radio and rental property 176,115 159,415 86,020 73,395 Human rights 17,025 17,025 16,304 721 Information systems 548,560 592,025 525,076 66,949 Human resources/risk management 354,940 354,890 329,937 24,953 Total general government 5,845,490 5,636,198 5,083,231 552,967 Public safety: Police: Police administration 1,228,020 1,203,850 1,158,889 44,961 Patrol 6,789,705 6,728,125 6,719,480 8,645 Investigations 2,223,430 2,159,145 2,022,567 136,578 Total police 10,241,155 10,091,120 9,900,936 190,184 Fire: Fire administration 651,925 590,055 570,912 19,143 Suppression 7,156,755 7,244,250 7,192,831 51,419 Prevention and inspection 1,062,995 1,143,675 1,053,563 90,112 Training 166,945 156,820 140,839 15,981 Total fire 9,038,620 9,134,800 8,958,145 176,655 Total public safety 19,279,775 19,225,920 18,859,081 366,839 Public service: Public works: Street maintenance 2,206,380 2,186,500 2,025,004 161,496 Street lighting 795,000 795,000 917,216 (122,216) Facility maintenance 1,207,500 1,208,940 1,123,776 85,164 Total public works 4,208,880 4,190,440 4,065,996 124,444 See accompanying notes to the basic financial statements.(Continued) STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL CITY OF PADUCAH, KENTUCKY Budgeted Amounts GENERAL FUND FOR THE YEAR ENDED JUNE 30, 2020 -43- Exhibit 7 (Continued) Variance with Final Budget Actual Positive Public service:Original Final Amounts (Negative) Engineering services: Engineering services 588,520$ 588,480$ 449,069$ 139,411$ Flood control 853,665 857,300 941,180 (83,880) Total engineering services 1,442,185 1,445,780 1,390,249 55,531 Total public service 5,651,065 5,636,220 5,456,245 179,975 Parks and recreation: Parks and recreation administration 950,530 771,390 746,466 24,924 Grounds maintenance 1,481,460 1,505,570 1,397,584 107,986 Pools and recreation programs 1,153,890 1,261,180 1,096,156 165,024 Total parks and recreation 3,585,880 3,538,140 3,240,206 297,934 Intergovernmental and other: Cable authority 96,105 106,050 103,665 2,385 Intergovernmental expense - - 327,840 (327,840) Total intergovernmental and other 96,105 106,050 431,505 (325,455) Total expenditures 34,458,315 34,142,528 33,070,268 1,072,260 Excess (deficiency) of revenues over expenditures 1,628,665 1,957,642 3,442,945 1,485,303 Other financing sources (uses): Transfers in 420,000 1,134,615 1,134,619 4 Transfers out (1,691,750) (4,263,928) (4,117,010) 146,918 Total other financing sources (uses)(1,271,750) (3,129,313) (2,982,391) 146,922 Net change in fund balance 356,915 (1,171,671) 460,554 1,632,225 Fund balance - beginning 19,184,079 19,184,079 19,184,079 - Fund balance - ending 19,540,994$ 18,012,408$ 19,644,633$ 1,632,225$ See accompanying notes to the basic financial statements. STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL -44- CITY OF PADUCAH, KENTUCKY Budgeted Amounts GENERAL FUND FOR THE YEAR ENDED JUNE 30, 2020 Exhibit 8 Variance with Final Budget Positive Original Final (Negative) Revenues: Licenses: Employee earnings 5,540,000$ 5,540,000$ 5,264,573$ (275,427)$ Total licenses 5,540,000 5,540,000 5,264,573 (275,427) Other: Miscellaneous - - - - Total other - - - - Total revenues 5,540,000 5,540,000 5,264,573 (275,427) Expenditures: General government: Planning and development: Economic development 1,327,355 1,326,540 988,462 338,078 Total expenditures 1,327,355 1,326,540 988,462 338,078 Excess (deficiency) of revenues over expenditures 4,212,645 4,213,460 4,276,111 62,651 Other financing sources (uses): Transfers in - - 275,078 275,078 Transfers out (4,712,115) (4,572,570) (3,969,270) 603,300 Total other financing sources (uses)(4,712,115) (4,572,570) (3,694,192) 878,378 Net change in fund balance (499,470) (359,110) 581,919 941,029 Fund balance - beginning 2,352,368 2,352,368 2,352,368 - Fund balance - ending 1,852,898$ 1,993,258$ 2,934,287$ 941,029$ See accompanying notes to the basic financial statements. ActualBudgeted Amounts -45- Amounts CITY OF PADUCAH, KENTUCKY SPECIAL REVENUE INVESTMENT FUND FOR THE YEAR ENDED JUNE 30, 2020 STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Exhibit 9 Nonmajor Solid Enterprise Current Assets:Waste Funds Totals Cash and cash equivalents 2,280,064$ 330,503$ 2,610,567$ 4,253,968$ Investments 1,500,000 - 1,500,000 3,000,000 Accounts receivable 539,469 - 539,469 446,200 Interest receivable 1,453 - 1,453 - Prepaid expenses - - - 1,200,000 Inventory - 13,857 13,857 52,823 Total current assets 4,320,986 344,360 4,665,346 8,952,991 Noncurrent Assets: Net capital assets: Land 68,886 - 68,886 - Depreciable capital assets 2,307,220 89,447 2,396,667 3,263,941 Total noncurrent assets 2,376,106 89,447 2,465,553 3,263,941 Total assets 6,697,092 433,807 7,130,899 12,216,932 Deferred Outflows of Resources: Deferred pension related outflows 594,329 38,978 633,307 181,323 Deferred OPEB related outflows 269,742 18,216 287,958 81,754 Total deferred outflows of resources 864,071 57,194 921,265 263,077 Current Liabilities: Voucher and accounts payable 120,961 84,203 205,164 147,233 Accrued payroll and payroll taxes 46,216 - 46,216 14,775 Accrued compensated absences 102,130 723 102,853 28,060 Unearned revenue - 41,486 41,486 23,773 Due to other funds - 19,289 19,289 - Total current liabilities 269,307 145,701 415,008 213,841 Noncurrent Liabilities: Net pension liability 2,836,349 198,103 3,034,452 852,912 Net other post employment benefits liability 678,195 47,368 725,563 203,933 Landfill post-closure costs 2,062,500 - 2,062,500 - Accrued compensated absences 22,926 6,505 29,431 23,469 Total noncurrent liabilities 5,599,970 251,976 5,851,946 1,080,314 Total liabilities 5,869,277 397,677 6,266,954 1,294,155 Deferred Inflows of Resources Deferred pension related inflows 72,939 5,094 78,033 21,933 Deferred OPEB related inflows 248,884 16,778 265,662 74,628 Total deferred inflows of resources 321,823 21,872 343,695 96,561 Net invested in capital assets 2,376,106 89,447 2,465,553 3,263,941 Unrestricted (1,006,043) (17,995) (1,024,038) 7,825,352 TOTAL NET POSITION 1,370,063$ 71,452$ 1,441,515 11,089,293$ Reconciliation to government-wide statements of net position: Adjustment to reflect the consolidation of Internal Service Funds' activities related to Enterprise Funds 630,101 NET POSITION OF BUSINESS-TYPE ACTIVITIES 2,071,616$ See accompanying notes to the basic financial statements. Governmental Activities CITY OF PADUCAH, KENTUCKY STATEMENT OF NET POSITION PROPRIETARY FUNDS JUNE 30, 2020 -46- Business-type Activities ASSETS LIABILITIES NET POSITION Funds Service Internal Exhibit 10 Nonmajor Solid Enterprise Operating Revenues:Waste Funds Totals Charges for services - internal -$ 88,211$ 88,211$ 5,827,824$ Charges for services - external 4,629,908 - 4,629,908 273,703 Miscellaneous - 299 299 - Total operating revenues 4,629,908 88,510 4,718,418 6,101,527 Operating Expenses: Cost of sales and service 4,679,268 1,752,426 6,431,694 4,851,702 Depreciation and amortization 630,668 10,021 640,689 846,924 Total operating expenses 5,309,936 1,762,447 7,072,383 5,698,626 Operating income (loss)(680,028) (1,673,937) (2,353,965) 402,901 Nonoperating Revenues (Expenses): Grants - program purpose 14,001 1,889,338 1,903,339 - Interest and investment income 67,991 186 68,177 115,277 Gain (loss) on disposal of property and equipment 181,486 - 181,486 81,677 Total nonoperating revenues (expenses)263,478 1,889,524 2,153,002 196,954 Income (loss) before contributions and transfers (416,550) 215,587 (200,963) 599,855 Contributions and Transfers: Transfers in - 53,949 53,949 286,630 Transfers out (565,115) - (565,115) (365,000) Total contributions and transfers (565,115) 53,949 (511,166) (78,370) Change in net position (981,665) 269,536 (712,129) 521,485 Net position - beginning 2,351,728 (198,084) 10,567,808 Net position - ending 1,370,063$ 71,452$ 11,089,293$ Reconciliation to government-wide statements of net position: Adjustment to reflect the consolidation of Internal Service Funds' activities related to Enterprise Funds 52,269 CHANGE IN NET POSITION OF BUSINESS-TYPE ACTIVITIES (659,860)$ See accompanying notes to the basic financial statements. CITY OF PADUCAH, KENTUCKY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2020 Governmental Internal Service Funds -47- ActivitiesBusiness-type Activities Exhibit 11 Nonmajor Solid Enterprise Cash Flows from Operating Activities:Waste Funds Totals Cash received from customers 4,605,586$ 88,211$ 4,693,797$ -$ Cash received from interfund services provided - - - 6,326,278 Payments to suppliers (3,176,557) - (3,176,557) (343,490) Payments to employees (188,488) (99,140) (287,628) (226,738) Claims paid - - - (3,536,322) Payments to internal service funds (505,913) (3,252) (509,165) - Other receipts - 299 299 - Other payments - (1,981,138) (1,981,138) (599,947) Net cash provided (used) by operating activities 734,628 (1,995,020) (1,260,392) 1,619,781 Cash Flows from Noncapital Financing Activities: Grants - program purpose 14,001 1,930,824 1,944,825 - Transfers from other funds - 53,949 53,949 286,630 Transfers to other funds (565,115) - (565,115) (365,000) Net cash provided (used) by noncapital financing activities (551,114) 1,984,773 1,433,659 (78,370) Cash Flows from Capital and Related Financing Activities: Purchase of capital assets (630,123) - (630,123) (750,245) Proceeds from sale of capital assets 200,127 - 200,127 125,576 Net cash provided (used) by capital and related financing activities (429,996) - (429,996) (624,669) Cash Flows from Investing Activities: Interest on cash and investments 86,218 186 86,404 115,277 Purchase of investments - - - (1,000,000) Net cash provided (used) by investing activities 86,218 186 86,404 (884,723) Net increase (decrease) in cash and cash equivalents (160,264) (10,061) (170,325) 32,019 Cash and cash equivalents, July 1, 2018 2,440,328 340,564 2,780,892 4,221,949 CASH AND CASH EQUIVALENTS, JUNE 30, 2019 2,280,064$ 330,503$ 2,610,567$ 4,253,968$ Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities: Operating income (loss) (680,028)$ (1,673,937)$ (2,353,965)$ 402,901$ Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation and amortization 630,668 10,021 640,689 846,924 Change in assets and liabilities: Receivables 1,178 - 1,178 224,563 Prepaid expenses - - - - Inventories - 3,668 3,668 993 Unearned revenues (25,500) 41,486 15,986 - OPEB obligation and related deferrals 709,241 (89,206) 620,035 3,942 Pension obligation and related deferrals 127,978 (238,819) (110,841) 108,345 Account and accrued payables (28,909) (48,233) (77,142) 32,113 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 734,628$ (1,995,020)$ (1,260,392)$ 1,619,781$ See accompanying notes to the basic financial statements. Business-type Activities Funds CITY OF PADUCAH, KENTUCKY STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2020 -48- Governmental Activities Internal Service Exhibit 12 Private- Pension purpose Funds Trusts Cash and cash equivalents 1$ 97,894$ Receivables: Interest 2,129 - Other 198 - Investments at fair value Money market funds 93,243 - Common stock 1,897,454 - Mutual funds 2,703,574 1,064,018 Total assets 4,696,599 1,161,912 Voucher and accounts payable 463 2,500 Payroll taxes and withholdings payable - - Total liabilities 463 2,500 Net position restricted for pensions 4,696,136$ Held in trust for other purposes 1,159,412$ See accompanying notes to the basic financial statements NET POSITION Primary Government -49- ASSETS LIABILITIES CITY OF PADUCAH, KENTUCKY STATEMENT OF NET POSITION FIDUCIARY FUNDS JUNE 30, 2020 Exhibit 13 Private- Pension purpose Additions:Funds Trusts Contributions: Employer 358,435$ -$ Plan members 4,394 - Private donations - 4,500 Total contributions 362,829 4,500 Investment income: Net increase (decrease) in fair value of investments 185,489 (13,864) Interest and dividends 95,440 48,722 Net investment income 280,929 34,858 Total additions 643,758 39,358 Deductions: Benefits 975,671 - Capital outlay - 57,454 Administrative expenses 45,199 13,867 Total deductions 1,020,870 71,321 Change in net position (377,112) (31,963) Net position - beginning 5,073,248 1,191,375 Net position - ending 4,696,136$ 1,159,412$ See accompanying notes to the basic financial statements. -50- STATEMENT OF CHANGES IN NET POSITION CITY OF PADUCAH, KENTUCKY FIDUCIARY FUNDS FOR THE YEAR ENDED JUNE 30, 2020 Government-wide Financial Statements Fund Financial Statements Fund Financial Statements Revenues – Exchange and Non-Exchange Transactions Unearned revenue Allocation of Indirect Expenses Government-wide Statement Fund Financial Statements Government-wide Statement deferred outflows of resources, deferred inflows of resources, Deferred charge on refunding Deferred pension contributions Changes in proportion and differences between employer contributions and proportionate share of contributions Differences between expected and actual experience Change of assumptions Difference between projected and actuarial earnings Pension related deferred outflows Changes in proportion and differences between employer contributions and proportionate share of contributions Differences between expected and actual experience Difference between projected and actuarial earnings Pension related deferred inflows Deferred OPEB contributions Changes in proportion and differences between employer contributions and proportionate share of contributions Change of assumptions OPEB related deferred outflows Differences between expected and actual experience Change of assumptions Difference between projected and actuarial earnings Changes in proportion and differences between employer contributions and proportionate share of contributions OPEB related deferred inflows Unavailable revenues –property taxes Deferred pension contributions Changes in proportion and differences between employer contributions and proportionate share of contributions Differences between expected and actual experience Change of assumptions Difference between projected and actuarial earnings Pension related deferred outflows Differences between expected and actual experience Changes in proportion and differences between employer contributions and proportionate share of contributions Difference between projected and actuarial earnings Pension related deferred inflows Deferred OPEB contributions Change of assumptions Changes in proportion and differences between employer contributions and proportionate share of contributions OPEB related deferred outflows Differences between expected and actual experience Change of assumptions Difference between projected and actuarial earnings Changes in proportion and differences between employer contributions and proportionate share of contributions OPEB related deferred inflows Fund Financial Statements unavailable revenue, Government-wide Statements Fund Statements program revenues general revenues Fund Accounting Requirements Revenue Restrictions Debt Restrictions and Covenants City Policy Pension Trust Policy Pension Trust Policy Private Purpose Trust Governmental Activities Business-type Activities General Obligation Bonds General Obligation Bonds Notes Payable Notes Payable Changes in Long-Term Liabilities General obligation bonds Total bonds payable Notes payable Total notes payable Changes in Long-Term Liabilities Changes in Long-Term Liabilities Less Annual Debt Service Requirements Plan description - Benefits provided Non-hazardous members: Non-hazardous members: Hazardous members: Plan Funding Non-hazardous Hazardous Actuarial assumptions - Discount rate Sensitivity of CERS proportionate share of net pension liability to changes in the discount rate CERS Pension plan fiduciary net position Basis of Accounting Administration Administrative Costs Valuation of Investments Plan Administration Plan Description Membership Information: Benefits provided: Funding policy: Changes in PFPF and AEPF’s Net Pension Liability is as follows PFPF AEPF Actuarial assumption Post-retirement mortality Rate of return Discount Rate Sensitivity of the net pension liability to changes in the discount rate Governmental Activities Business-Type Activities Total Plan description – Benefits provided – Contributions – Actuarial assumptions Discount rate CERS Sensitivity of the City’s proportionate share of the collective net OPEB liability to changes in the healthcare cost trend rates – Fiduciary Activities Majority Equity Interests – an amendment of GASB Statements No 14 and No. 61 Leases Accounting for Interest Costs Incurred before the End of a Construction Period Conduit Debt Obligations 2020 2019 2018 2017 2016 2015 2014 Total pension liability Service cost 10,901$ 10,267$ 7,678$ 7,038$ 7,183$ 5,576$ 4,871$ Interest 472,881 527,900 560,538 626,531 686,614 744,910 792,267 Changes in benefit terms - - - - - - - Differences between expected and actual experience 249,805 (384,990) (2,758) (278,063) (111,824) (43,965) 150,977 Changes in assumptions - - - 148,359 156,880 166,753 175,893 Benefit payments/refunds (965,299) (1,033,958) (1,101,201) (1,223,078) (1,308,290) (1,386,273) (1,445,080) Net change in total pension liability (231,712) (880,781) (535,743) (719,213) (569,437) (512,999) (321,072) Total pension liability - beginning 7,757,737 8,638,518 9,174,261 9,893,474 10,462,911 10,975,910 11,296,982 Total pension liability - ending (a)7,526,025$ 7,757,737$ 8,638,518$ 9,174,261$ 9,893,474$ 10,462,911$ 10,975,910$ Plan fiduciary net position Contributions - employer 345,049$ 366,129$ 380,168$ 436,575$ 420,352$ 391,468$ 420,834$ Contributions - member 4,394 6,448 6,325 4,001 4,494 6,088 5,354 Net investment income 280,927 461,503 492,276 766,509 165,489 310,681 1,057,726 Benefit payments/refunds (965,299) (1,033,958) (1,101,201) (1,223,078) (1,308,290) (1,386,273) (1,445,080) Administrative expenses (42,185) (43,503) (44,419) (44,786) (46,422) (49,115) (48,406) Other - - - - - - - Net change in plan fiduciary net position (377,114) (243,381) (266,851) (60,779) (764,377) (727,151) (9,572) Plan fiduciary net position - beginning 5,073,250 5,316,631 5,583,482 5,644,261 6,408,638 7,135,789 7,145,361 Plan fiduciary net position - ending (b)4,696,136$ 5,073,250$ 5,316,631$ 5,583,482$ 5,644,261$ 6,408,638$ 7,135,789$ Net pension liability ending (a) - (b)2,829,889$ 2,684,487$ 3,321,887$ 3,590,779$ 4,249,213$ 4,054,273$ 3,840,121$ Plan fiduciary net position as a percentage of total pension liability 62%65%62%61%57%61%65% Covered payroll 54,921$ 80,600$ 79,064$ 50,009$ 56,175$ 76,102$ 66,928$ Net pension liability as a percentage of covered payroll 5153%3331%4202%7180%7564%5327%5738% -101- Exhibit A-1 CITY OF PADUCAH, KENTUCKY REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CHANGES IN THE POLICE AND FIREFIGHTERS' PENSION Last Seven Fiscal Years Ending June 30 (1) TRUST FUND'S NET PENSION LIABILITY AND RELATED RATIOS Schedule is intended to show information for 10 years. Additional years of supplementary information will be provided as this information becomes available.(1) 2020 2019 2018 2017 2016 2015 2014 Total pension liability -$ -$ -$ -$ -$ -$ -$ Interest 3,728 3,906 4,084 5,308 5,400 5,687 8,258 Changes in benefit terms - - - - - - - Differences between expected and actual experience 3,710 3,506 3,308 (13,742) 9,751 9,391 (30,605) Changes in assumptions - - - - - - - Benefit payments/refunds (10,372) (10,372) (10,372) (13,533) (19,856) (19,856) (21,152) Net change in total pension liability (2,934) (2,960) (2,980) (21,967) (4,705) (4,778) (43,499) Total pension liability - beginning 67,319 70,279 73,259 95,226 99,931 104,709 148,208 Total pension liability - ending (a)64,385$ 67,319$ 70,279$ 73,259$ 95,226$ 99,931$ 104,709$ Plan fiduciary net position Contributions - employer 13,386$ 13,459$ 14,012$ 21,062$ 6,599$ -$ -$ Contributions - member - - - - - - - Net investment income - - - - 53 264 598 Benefit payments/refunds (10,372) (10,372) (10,372) (13,533) (19,856) (19,856) (21,152) Administrative expenses (3,014) (3,087) (3,640) (7,529) (7,539) (7,533) (7,483) Other - - - - - - - Net change in plan fiduciary net position - - - - (20,743) (27,125) (28,037) Plan fiduciary net position - beginning - - - - 20,743 47,868 75,905 Plan fiduciary net position - ending (b)-$ -$ -$ -$ -$ 20,743$ 47,868$ Net pension liability ending (a) - (b)64,385$ 67,319$ 70,279$ 73,259$ 95,226$ 79,188$ 56,841$ Plan fiduciary net position as a percentage of total pension liability 0.0%0.0%0.0%0.0%0.0%20.8%45.7% Covered payroll n/a n/a n/a n/a n/a n/a n/a Net pension liability as a percentage of covered payroll n/a n/a n/a n/a n/a n/a n/a (1) -102- Exhibit A-2 CITY OF PADUCAH, KENTUCKY REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CHANGES IN THE APPOINTIVE EMPLOYEES' PENSION TRUST FUND'S NET PENSION LIABILITY AND RELATED RATIOS Last Seven Fiscal Years Ending June 30 (1) Schedule is intended to show information for 10 years. Additional years of supplementary information will be provided as this information becomes available. Service cost 2020 2019 2018 2017 2016 2015 2014 Actuarially determined contribution 315,257$ 368,373$ 380,168$ 434,758$ 416,844$ 391,468$ 421,933$ Contributions in relation to the actuarially determined contribution 345,049 366,129 376,148 436,575 420,352 391,468 420,834 Contribution deficiency (excess)(29,792)$ 2,244$ 4,020$ (1,817)$ (3,508)$ -$ 1,099$ Covered payroll 54,921$ 80,600$ 79,064$ 50,009$ 56,175$ 76,102$ 66,928$ Contributions as a percentage of covered payroll 628%454%476%873%748%514%629% 2020 2019 2018 2017 2016 2015 2014 Annual money-weighted rate of return, net of investment expense 5.92%9.28%9.44%14.61%2.78%4.69%15.95% (1) Exhibit A-3 CITY OF PADUCAH, KENTUCKY REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF POLICE AND FIREFIGHTERS' PENSION TRUST FUND CONTRIBUTIONS AND INVESTMENT RETURNS Last Seven Fiscal Years Ending June 30 (1) Schedule of Contributions Schedule of Investment Returns -103- Schedule is intended to show information for 10 years. Additional years of supplementary information will be provided as this information becomes available. 2020 2019 2018 2017 2016 2015 2014 Actuarially determined contribution 10,372$ 10,372$ 10,372$ 19,856$ 19,856$ 15,734$ 10,779$ Contributions in relation to the actuarially determined contribution 13,386 13,459 14,012 21,062 6,599 - - Contribution deficiency (excess)(3,014)$ (3,087)$ (3,640)$ (1,206)$ 13,257$ 15,734$ 10,779$ Covered payroll n/a n/a n/a n/a n/a n/a n/a Contributions as a percentage of covered payroll n/a n/a n/a n/a n/a n/a n/a 2020 2019 2018 2017 2016 2015 2014 Annual money-weighted rate of return, net of investment expense 0.00%0.00%0.00%0.00%0.47%0.75%0.97% (1) Last Seven Fiscal Years Ending June 30 (1) Exhibit A-4 CITY OF PADUCAH, KENTUCKY REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF APPOINTIVE EMPLOYEES' PENSION TRUST FUNDS CONTRIBUTIONS AND INVESTMENT RETURNS -104- Schedule of Contributions Schedule of Investment Returns Schedule is intended to show information for 10 years.Additional years of supplementary information will be provided as this information becomes available. Year Ended June 30 City's proportion of the net pension liability City's proportionate share of the net pension liability (asset) City's covered payroll City's share of the net pension liability (asset) as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total pension liability CERS Nonhazardous 2020 0.3199%22,498,921$ 8,163,051$ 275.6190%50.4470% 2019 0.3150%19,185,252$ 7,880,115$ 243.4641%53.5420% 2018 0.3210%18,788,122$ 7,861,744$ 238.9816%53.3249% 2017 0.3047%14,999,862$ 7,266,510$ 206.4246%55.5028% 2016 0.3150%13,543,354$ 7,349,249$ 184.2821%59.9684% 2015 0.3261%10,579,475$ 7,477,608$ 141.4821%66.8010% 2014 0.3261%11,970,884$ 7,466,979$ 160.3176%61.2209% CERS Hazardous 2020 1.5325%42,330,934$ 8,765,379$ 482.9333%46.6327% 2019 1.5888%38,425,266$ 8,850,650$ 434.1519%49.2645% 2018 1.6403%36,697,162$ 9,004,106$ 407.5603%50.2164% 2017 1.6165%27,738,524$ 8,404,139$ 330.0579%53.9483% 2016 1.6428%25,218,200$ 8,402,943$ 300.1115%57.5152% 2015 1.6323%19,617,569$ 8,267,598$ 237.2826%63.4574% 2014 1.6323%21,907,757$ 8,016,505$ 273.2831%65.7178% *The amounts presented were determined as of the measurement date June 30 of the prior year. * Exhibit A-5 -105- CITY OF PADUCAH, KENTUCKY SCHEDULE OF CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY COUNTY EMPLOYEES' RETIREMENT SYSTEM LAST SEVEN FISCAL YEARS* Schedule is intended to show information for 10 years. Additional years of supplementary information will be provided as this information becomes available. REQUIRED SUPPLEMENTARY INFORMATION Year Ended June 30 Contractually required penson contribution Contributions relative to contractually required contribution Contribution deficiency (excess) City's covered payroll Contributions as a percentage of covered payroll CERS Nonhazardous 2020 1,575,229$ 1,575,229$ -$ 8,161,809$ 19.3000% 2019 1,324,047$ 1,324,047$ -$ 8,163,051$ 16.2200% 2018 1,141,041$ 1,141,041$ -$ 7,880,115$ 14.4800% 2017 1,098,317$ 1,098,317$ -$ 7,861,744$ 13.9704% 2016 902,501$ 902,501$ -$ 7,266,510$ 12.4200% 2015 937,029$ 937,029$ -$ 7,349,249$ 12.7500% 2014 1,027,423$ 1,027,423$ -$ 7,477,608$ 13.7400% CERS Hazardous 2020 2,695,189$ 2,695,189$ -$ 8,966,031$ 30.0600% 2019 2,179,073$ 2,179,073$ -$ 8,765,379$ 24.8600% 2018 1,964,844$ 1,964,844$ -$ 8,850,650$ 22.2000% 2017 1,954,791$ 1,954,791$ -$ 9,004,106$ 21.7100% 2016 1,702,679$ 1,702,679$ -$ 8,404,139$ 20.2600% 2015 1,741,930$ 1,741,930$ -$ 8,402,943$ 20.7300% 2014 1,799,856$ 1,799,856$ -$ 8,267,598$ 21.7700% * Changes of Benefit Terms: None Methods and assumptions used in the actuarially determined contributions: The assumptions were updated as of result of an experience study for the five year period ending June 30, 2018. The investment rate of return remained unchanged from at 6.25% from the prior measurement date. The discount rate remained unchanged at 6.25% from the prior measurement date. The inflation rate remained unchanged at 2.30% from the prior measurment date. Projected salary increases 3.30% to 11.50% - non-hazardous and 3.05% to 18.55% - hazardous. Exhibit A-6 -106- Notes to Required Supplementary Information For the Year Ended June 30, 2020 The amortization period of the unfunded accrued liability was reset to a closed 30 year period for the year ended June 30, 2013. Schedule is intended to show information for 10 years.Additional years of supplementary information will be provided as this information becomes available. CITY OF PADUCAH, KENTUCKY SCHEDULE OF CITY'S CONTRIBUTIONS COUNTY EMPLOYEES' RETIREMENT SYSTEM LAST SEVEN FISCAL YEARS* REQUIRED SUPPLEMENTARY INFORMATION The actuarially determined contribution rates, as a percentage of payroll,used to determine the actuarially determined contribution amounts in the Schedule of Employer contributions are calculated as of the indicated valuation date.The following actuarial methods and assumptions (from the indicated actuarial valuations)were used to determine contribution rates reported in that schedule for the year ending June 30, 2019: Year Ended June 30 City's proportion of the net pension liability City's proportionate share of the net pension liability (asset) City's covered payroll City's share of the net pension liability (asset) as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total pension liability CERS Nonhazardous 2020 0.3198%5,379,682 8,163,051 65.9028%60.4382% 2019 0.3150%5,592,780 7,880,115 70.9733%57.6218% 2018 0.3210%6,452,856 7,861,744 82.0792%52.3940% CERS Hazardous 2020 1.5324%11,337,649$ 8,765,379$ 129.3458%64.4396% 2019 1.5888%11,328,384$ 8,850,650$ 127.9949%64.2437% 2018 1.6403%13,559,555$ 9,004,106$ 150.5930%58.9878% *The amounts presented were determined as of the measurement date June 30 of the prior year. *Schedule is intended to show information for 10 years. Additional years of supplementary information will be provided as this information becomes available. -107- Exhibit A-7 CITY OF PADUCAH, KENTUCKY REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CITY'S PROPORTIONATE SHARE OF THE NET MEDICAL INSURANCE LIABILITY COUNTY EMPLOYEES' RETIREMENT SYSTEM LAST THREE FISCAL YEARS* Year Ended June 30 Contractually required pension contribution Contributions relative to contractually required contribution Contribution deficiency (excess) City's covered payroll Contributions as a percentage of covered payroll CERS Nonhazardous 2020 388,502$ 388,502$ -$ 8,161,809$ 4.7600% 2019 429,376$ 429,376$ -$ 8,163,051$ 5.2600% 2018 370,365$ 370,365$ -$ 7,880,115$ 4.7000% 2017 371,860$ 371,860$ -$ 7,861,744$ 4.7300% CERS Hazardous 2020 918,612$ 918,612$ -$ 8,966,031$ 10.2455% 2019 918,612$ 918,612$ -$ 8,765,379$ 10.4800% 2018 827,536$ 827,536$ -$ 8,850,650$ 9.3500% 2017 841,884$ 841,884$ -$ 9,004,106$ 9.3500% * Changes of Benefit Terms: None Changes of assumptions: Valuation date June 30, 2017 Actuarial cost method Entry Age Normal Amortization method Level Percent of Payroll Amortization period 26 years, Closed Asset valuation method Payroll growth rate 2.00% Investment Return 6.25% Inflation 2.30% Single discount rate 5.68% and 5.69% for non-hazardous and hazardous; decrease from 5.85% and 5.97% Mortality Healthcare trend rates (Pre-65) Healthcare trend rates (Post-65) LAST FOUR FISCAL YEARS* Exhibit A-8 CITY OF PADUCAH, KENTUCKY REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CITY'S CONTRIBUTIONS - MEDICAL INSURANCE PLAN COUNTY EMPLOYEES' RETIREMENT SYSTEM Schedule is intended to show information for 10 years.Additional years of supplementary information will be provided as this information becomes available. Notes to Required Supplementary Information For the Year Ended June 30, 2020 -108- The actuarially determined contribution rates,as a percentage of payroll,used to determine the actuarially determined contribution amounts in the Schedule of Employer Contributions are calculated as the of the indicated valuation date.The following actuarial methods and assumptions (from the indicated actuarial valuations)were used to determine contribution rates reported in that schedule for the year ending June 30, 2019: Initial trend starting at 7.25%at January 1, 2019,and gradually decreasing to an ultimate trend rate of 4.05% over a period of 13 years. RP-2000 Combined Mortality Table, projected to 2013 with Scale BB (set back 1 year for females). Initial trend starting at 5.10%at January 1, 2019,and gradually decreasing to an ultimate trend rate of 4.05% over a period of 11 years. 20%of the difference between the market value of assets and the expected actuarial value of assets is recognized. Exhibit B-1 Variance with Final Budget Final Positive Budget (Negative) Revenues: Intergovernmental and grants Intergovernmental 40,000$ 77,000$ 37,000$ Grants 2,524,354 1,406,324 (1,118,030) Interest - 1,430 1,430 Property upkeep, rentals, sales and other 153,194 329,970 176,776 Total revenues 2,717,548 1,814,724 (902,824) Expenditures: Capital outlay 16,577,123 6,205,364 10,371,759 Excess (deficiency) of revenues over expenditures (13,859,575) (4,390,640) 9,468,935 Other Financing Sources (Uses): Long-term debt issued 4,466,251 463,262 (4,002,989) Transfers in 6,472,991 4,408,846 (2,064,145) Transfers out (306,504) (306,500) 4 Total other financing sources 10,632,738 4,565,608 (6,067,130) Net change in fund balance (3,226,837)$ 174,968 3,401,805$ Fund balance, July 1, 2019 4,462,736 FUND BALANCE, JUNE 30, 2020 4,637,704$ See auditors report on pages 11-12. -109- Actual CITY OF PADUCAH, KENTUCKY DETAIL SCHEDULE OF REVENUES, EXPENDITURES, AND GENERAL CAPITAL IMPROVEMENTS FUND FOR THE YEAR ENDED JUNE 30, 2020 CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Exhibit B-2 Variance with Final Budget Final Positive Budget Actual (Negative) Revenues: Intergovernmental 738,795$ 738,424$ (371)$ Interest 25,000 26,792 1,792 Property upkeep, rentals, sales and other 289,000 602,921 313,921 Total revenues 1,052,795 1,368,137 315,342 Expenditures: Debt service: Principal requirement 2,881,635 2,763,738 117,897 Interest and fiscal requirement 842,325 812,040 30,285 Total expenditures 3,723,960 3,575,778 148,182 Excess (deficiency) of revenues over expenditures (2,671,165) (2,207,641) 463,524 Other Financing Sources (Uses): Transfers in 2,696,165 2,315,091 (381,074) Total other financing sources 2,696,165 2,315,091 (381,074) Net change in fund balance 25,000$ 107,450 82,450$ Fund balance, July 1, 2019 1,164,805 FUND BALANCE, JUNE 30, 2020 1,272,255$ See auditors report on pages 11-12. -110- FOR THE YEAR ENDED JUNE 30, 2020 CITY OF PADUCAH, KENTUCKY DEBT SERVICE FUND DETAIL SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL NONMAJOR GOVERNMENTAL FUNDS Exhibit B-5 Variance with Final Budget Final Positive Budget Actual (Negative) Revenues: Intergovernmental 507,000$ 489,823$ (17,177)$ Interest 10,000 12,631 2,631 Total revenues 517,000 502,454 (14,546) Expenditures: Public service 1,517,000 1,182,530 334,470 Excess (deficiency) of revenues over expenditures (1,000,000) (680,076) 319,924 Other Financing Sources (Uses): Transfers in 1,000,000 800,000 (200,000) Transfers out (170,000) (170,000) - Total other financing sources (uses)830,000 630,000 (200,000) Net change in fund balance (170,000)$ (50,076) 119,924$ Fund balance, July 1, 2019 782,692 FUND BALANCE, JUNE 30, 2020 732,616$ See auditors report on pages 11-12. -115- FOR THE YEAR ENDED JUNE 30, 2020 CITY OF PADUCAH, KENTUCKY MUNICIPAL AID PROGRAM FUND DETAIL SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Exhibit B-6 Variance with Final Budget Final Positive Budget Actual (Negative) Revenues: Local contributions 355,000$ 402,190$ 47,190$ Telephone surcharges 350,000 319,181 (30,819) Interest 3,000 2,049 (951) Miscellaneous 666,340 476,305 (190,035) Total revenues 1,374,340 1,199,725 (174,615) Expenditures: Public safety 2,083,910 1,802,321 281,589 Excess (deficiency) of revenues over expenditures (709,570) (602,596) 106,974 Other Financing Sources (Uses): Transfers in 854,490 747,514 (106,976) Transfers out (144,920) (144,918) 2 Total other financing sources (uses)709,570 602,596 (106,974) Net change in fund balance -$ - -$ Fund balance, July 1, 2019 327,116 FUND BALANCE, JUNE 30, 2020 327,116$ See auditors report on pages 11-12. -116- FOR THE YEAR ENDED JUNE 30, 2020 CITY OF PADUCAH, KENTUCKY EMERGENCY COMMUNICATION SERVICE FUND DETAIL SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Exhibit B-7 Variance with Final Budget Final Positive Budget Actual (Negative) Revenues: Grants 26,000$ 28,954$ 2,954$ Interest 4,000 4,358 358 Total revenues 30,000 33,312 3,312 Expenditures: Public safety 68,250 38,166 30,084 Excess (deficiency) of revenues over expenditures (38,250) (4,854) 33,396 Net change in fund balance (38,250)$ (4,854) 33,396$ Fund balance, July 1, 2019 213,379 FUND BALANCE, JUNE 30, 2020 208,525$ See auditors report on pages 11-12. -117- CITY OF PADUCAH, KENTUCKY COURT AWARDS FUND DETAIL SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE YEAR ENDED JUNE 30, 2020 Exhibit B-8 Variance with Final Budget Final Positive Budget Actual (Negative) Revenues: Grants 200,000$ 197,500$ (2,500)$ Total revenues 200,000 197,500 (2,500) Expenditures: Planning and development 200,000 197,500 2,500 Excess (deficiency) of revenues over expenditures - - (5,000) Other Financing Sources (Uses): Transfers in - - - Transfers out - - - Total other financing sources (uses)- - - Net change in fund balance -$ - (5,000)$ Fund balance, July 1, 2019 - FUND BALANCE, JUNE 30, 2020 -$ See auditors report on pages 11-12. -118- FOR THE YEAR ENDED JUNE 30, 2020 CITY OF PADUCAH, KENTUCKY CDBG FUND DETAIL SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL Exhibit B-10 Variance with Final Budget Final Positive Budget Actual (Negative) Revenues: Grants -$ -$ -$ Interest 2,000 87,826 85,826 Total revenues 2,000 87,826 85,826 Expenditures: Debt issuance costs - 182,105 (182,105) Interest and fiscal requirement - - - Capital outlay 136,065 181,628 (45,563) Total expenditures 136,065 363,733 (227,668) Excess (deficiency) of revenues over expenditures (134,065) (275,907) (141,842) Other Financing Sources (Uses): Proceeds of debt 2,000,000 20,520,000 18,520,000 Discount on debt issued - (64,666) (64,666) Operating transfers in - - - Transfers out (2,458,560) (383,913) 2,074,647 Total other financing sources (uses)(458,560) 20,071,421 20,529,981 Net change in fund balance (592,625)$ 19,795,514 20,388,139$ Fund balance, July 1, 2019 181,628 FUND BALANCE, JUNE 30, 2020 19,977,142$ See auditors report on pages 11-12. -120- FOR THE YEAR ENDED JUNE 30, 2020 CITY OF PADUCAH, KENTUCKY SPECIAL REVENUE BOND FUND DETAIL SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL NONMAJOR PROPRIETARY FUNDS Exhibit C-1 Civic Transient Center Dock Current Assets:Fund Fund Cash and cash equivalents 324,213$ 6,290$ -$ 330,503$ Inventory - - 13,857 13,857 Total current assets 324,213 6,290 13,857 344,360 Noncurrent Assets: Net depreciable capital assets - 89,447 - 89,447 Total assets 324,213 95,737 13,857 433,807 Deferred Outflows of Resources: Deferred pension related outflows 38,978 - - 38,978 Deferred OPEB related outflows 18,216 - - 18,216 Total deferred outflows of resources 57,194 - - 57,194 Current Liabilities: Voucher and accounts payable 83,655 391 157 84,203 Accrued compensated absences 723 - - 723 Unearned revenues 41,486 - - 41,486 Due to other funds 19,289 - - 19,289 Total current liabilities 145,153 391 157 145,701 Noncurrent Liabilities: Net pension liability 198,103 - - 198,103 Net other post employment benefits liability 47,368 - - 47,368 Accrued compensated absences 6,505 - - 6,505 Total noncurrent liabilities 251,976 - - 251,976 Total liabilities 397,129 391 157 397,677 Deferred Inflows of Resources Deferred pension related inflows 5,094 - - 5,094 Deferred OPEB related inflows 16,778 - - 16,778 Total deferred inflows of resources 21,872 - - 21,872 Net invested in capital assets - 89,447 - 89,447 Unrestricted (37,594) 5,899 13,700 (17,995) TOTAL NET POSITION (37,594)$ 95,346$ 13,700$ 71,452$ See auditors report on pages 11-12. NET POSITION -121- Total Nonmajor Enterprise Funds Section Eight Housing CITY OF PADUCAH, KENTUCKY COMBINING STATEMENT OF NET POSITION NONMAJOR PROPRIETARY FUNDS JUNE 30, 2020 ASSETS LIABILITIES Exhibit C-2 Civic Transient Center Dock Operating Revenues:Fund Fund Charges for services -$ 15,423$ 72,788$ 88,211$ Miscellaneous 299 - - 299 Total operating income 299 15,423 72,788 88,510 Operating Expenses: Cost of sales and service 1,620,623 47,969 83,834 1,752,426 Depreciation and amortization - 10,021 - 10,021 Total operating expenses 1,620,623 57,990 83,834 1,762,447 Operating income (loss)(1,620,324) (42,567) (11,046) (1,673,937) Non-Operating Revenues (Expenses): Grants - program purpose 1,889,338 - - 1,889,338 Interest and investment income 32 - 154 186 Total nonoperating revenues (expenses)1,889,370 - 154 1,889,524 Income (loss) before contributions and transfers 269,046 (42,567) (10,892) 215,587 Contributions and Operating Transfers: Transfers in - 42,932 11,017 53,949 Transfers out - - - - Total contributions and operating transfers - 42,932 11,017 53,949 Change in net position 269,046 365 125 269,536 Net position - beginning (306,640) 94,981 13,575 (198,084) Net position - ending (37,594)$ 95,346$ 13,700$ 71,452$ See auditors report on pages 11-12. -122- FOR THE YEAR ENDED JUNE 30, 2020 NONMAJOR PROPRIETARY FUNDS AND CHANGES IN NET POSITION Funds Section Eight Housing COMBINING STATEMENT OF REVENUES, EXPENSES CITY OF PADUCAH, KENTUCKY Total Nonmajor Enterprise Exhibit C-3 Civic Transient Center Dock Cash Flows from Operating Activities:Fund Fund Cash received from customers -$ 15,423$ 72,788$ 88,211$ Payments to employees (83,270) - (15,870) (99,140) Payments to internal service funds (950) (2,302) - (3,252) Other receipts 299 - - 299 Housing assistance and other payments (1,863,286) (49,763) (68,089) (1,981,138) Net cash provided (used) by operating activities (1,947,207) (36,642) (11,171) (1,995,020) Cash Flows from Noncapital Financing Activities: Grants - program purpose 1,930,824 - - 1,930,824 Transfers from other funds - 42,932 11,017 53,949 Transfers to other funds - - - - Net cash provided (used) by noncapital financing activities 1,930,824 42,932 11,017 1,984,773 Cash Flows from Investing Activities: Interest on cash and investments 32 - 154 186 Net increase (decrease) in cash and cash equivalents (16,351) 6,290 - (10,061) Cash and cash equivalents, July 1, 2019 340,564 - - 340,564 CASH AND CASH EQUIVALENTS, JUNE 30, 2020 324,213$ 6,290$ -$ 330,503$ Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities: Operating income (loss)(1,620,324)$ (42,567)$ (11,046)$ (1,673,937)$ Adjustments to reconcile operating income (loss) to net cash provided by operating activities: Depreciation and amortization - 10,021 - 10,021 Change in assets and liabilities: Inventory - - 3,668 3,668 Unearned revenues 41,486 - - 41,486 OPEB obligation and related deferrals (89,206) - - (89,206) Pension obligation and related deferrals (238,819) - - (238,819) Accounts payable and accrued expenses (40,344) (4,096) (3,793) (48,233) NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (1,947,207)$ (36,642)$ (11,171)$ (1,995,020)$ See auditors report on pages 11-12. Enterprise Funds CITY OF PADUCAH, KENTUCKY COMBINING STATEMENT OF CASH FLOWS NONMAJOR PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2020 -123- Section Eight Housing Total Nonmajor INTERNAL SERVICE FUNDS Exhibit D-1 Health Fleet Lease Insurance Insurance Combined Current Assets:Trust Fund Fund Total Cash and cash equivalents 21,539$ 2,042,006$ 427,901$ 1,762,522$ 4,253,968$ Investments - 1,000,000 250,000 1,750,000 3,000,000 Receivables, net 5,329 343,057 342 97,472 446,200 Prepaid expense - 1,200,000 - - 1,200,000 Inventories 52,823 - - - 52,823 Total current assets 79,691 4,585,063 678,243 3,609,994 8,952,991 Noncurrent Assets: Net depreciable capital assets 13,680 3,250,261 - - 3,263,941 Total assets 93,371 7,835,324 678,243 3,609,994 12,216,932 Deferred Outflows of Resources: Deferred pension related outflows 181,323 - - - 181,323 Deferred OPEB related outflows 81,754 - - - 81,754 Total deferred outflows of resources 263,077 - - - 263,077 Current Liabilities: Voucher and accounts payable 2,922 - 35,859 108,452 147,233 Accrued payroll and payroll taxes 14,775 - - - 14,775 Accrued compensated absences 28,060 - - - 28,060 Deferred revenue - - - 23,773 23,773 Total current liabilities 45,757 - 35,859 132,225 213,841 Noncurrent Liabilities: Pensions obligation 852,912 - - - 852,912 Other post employment benefits (OPEB)203,933 - - - 203,933 Accrued compensated absences 23,469 - - - 23,469 Total noncurrent liabilities 1,080,314 - - - 1,080,314 Total liabilities 1,126,071 - 35,859 132,225 1,294,155 Deferred Inflows of Resources Deferred pension related inflows 21,933 - - - 21,933 Deferred OPEB related inflows 74,628 - - - 74,628 Total deferred inflows of resources 96,561 - - - 96,561 Net invested in capital assets 13,680 3,250,261 - - 3,263,941 Unrestricted (879,864) 4,585,063 642,384 3,477,769 7,825,352 TOTAL NET POSITION (866,184)$ 7,835,324$ 642,384$ 3,477,769$ 11,089,293$ See auditors report on pages 11-12. -124- CITY OF PADUCAH, KENTUCKY COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS JUNE 30, 2020 LIABILITIES ASSETS NET POSITION Fleet Maintenance Exhibit D-2 Health Fleet Lease Insurance Insurance Combined Trust Fund Fund Total Operating Revenues: Charges for services - internal 413,994$ 1,005,575$ 1,199,859$ 3,208,396$ 5,827,824$ Charges for services - external - - - 273,703 273,703 Total operating revenues 413,994 1,005,575 1,199,859 3,482,099 6,101,527 Operating Expenses: Vehicle maintenance 679,558 - - - 679,558 Administrative - 53,745 - 539,220 592,965 Insurance premium, claims and medical - - 1,290,292 2,288,887 3,579,179 Depreciation 5,225 841,699 - - 846,924 Total operating expenses 684,783 895,444 1,290,292 2,828,107 5,698,626 Operating income (loss)(270,789) 110,131 (90,433) 653,992 402,901 Nonoperating Revenues and (Expenses): Interest and investment income - 56,264 234 58,779 115,277 Gain (loss) on disposal of property and equipment 1,195 80,482 - - 81,677 Total nonoperating revenues (expenses)1,195 136,746 234 58,779 196,954 Income (loss) before transfers (269,594) 246,877 (90,199) 712,771 599,855 Contributions and Transfers: Transfers in 155,569 - 131,061 - 286,630 Transfers out - (250,000) (50,000) (65,000) (365,000) Total contributions and operating transfers 155,569 (250,000) 81,061 (65,000) (78,370) Change in net position (114,025) (3,123) (9,138) 647,771 521,485 Net position - beginning (752,159)7,838,447 651,522 2,829,998 10,567,808 Net position - ending (866,184)$ 7,835,324$ 642,384$ 3,477,769$ 11,089,293$ See auditors report on pages 11-12. -125- Fleet Maintenance CITY OF PADUCAH, KENTUCKY COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2020 Exhibit D-3 Health Fleet Lease Insurance Insurance Combined Cash Flows from Operating Activities:Trust Fund Fund Total Receipts from other funds for services 417,697$ 1,216,229$ 1,200,026$ 3,492,326$ 6,326,278$ Payments to suppliers (343,490) - - - (343,490) Payments to employees (226,738) - - - (226,738) Insurance premium, claims and medical - - (1,262,592) (2,273,730) (3,536,322) Other payments - (60,725) - (539,222) (599,947) Net cash provided (used) by operating activities (152,531) 1,155,504 (62,566) 679,374 1,619,781 Cash Flows from Noncapital Financing Activities: Transfers from other funds 155,569 - 131,061 - 286,630 Transfers to other funds - (250,000) (50,000) (65,000) (365,000) Net cash provided (used) by noncapital financing activities 155,569 (250,000) 81,061 (65,000) (78,370) Cash Flows from Capital and Related Financing Activities: Proceeds from sale of capital assets 1,195 124,381 - - 125,576 Purchase of capital assets - (750,245) - - (750,245) Net cash used by capital and related financing 1,195 (625,864) - - (624,669) Cash Flows from Investing Activities: Interest and dividends - 56,264 234 58,779 115,277 Purchase of investments - (1,000,000) - - (1,000,000) Net cash used by investing activities - (943,736) 234 58,779 (884,723) Net increase (decrease) in cash and cash equivalents 4,233 (664,096) 18,729 673,153 32,019 Cash and cash equivalents, July 1, 2019 17,306 2,706,102 409,172 1,089,369 4,221,949 CASH AND CASH EQUIVALENTS, JUNE 30, 2020 21,539$ 2,042,006$ 427,901$ 1,762,522$ 4,253,968$ Reconciliation of Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities: Operating income (loss)(270,789)$ 110,131$ (90,433)$ 653,992$ 402,901$ Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities: Depreciation and amortization 5,225 841,699 - - 846,924 Change in assets and liabilities: Receivables 3,703 210,654 167 10,039 224,563 Inventories 993 - - - 993 OPEB obligation and related deferrals 3,942 - - - 3,942 Pension obligation and related deferrals 108,345 - - - 108,345 Accounts payable and accrued expenses (3,950) (6,980) 27,700 15,343 32,113 NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (152,531)$ 1,155,504$ (62,566)$ 679,374$ 1,619,781$ See auditors report on pages 11-12. -126- Fleet Maintenance CITY OF PADUCAH, KENTUCKY COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2020 FIDUCIARY FUNDS Exhibit E-1 Cemetery and Park Trusts Cash and cash equivalents 97,894$ Investments at fair value Money market funds - Mutual funds 1,064,018 Total assets 1,161,912 Accounts payable 2,500 Held in trust for other purposes 1,159,412$ See auditors report on pages 11-12. -127- ASSETS LIABILITIES NET POSITION JUNE 30, 2020 FIDUCIARY FUNDS - PRIVATE-PURPOSE TRUST FUNDS STATEMENT OF NET POSITION CITY OF PADUCAH, KENTUCKY Exhibit E-2 Cemetery and Park Additions:Trusts Contributions: Intergovernmental revenues -$ Private donations 4,500 Total contributions 4,500 Investment earnings: Change in fair value of investments (13,864) Interest and dividends 48,722 Net investment earnings 34,858 Total additions 39,358 Deductions: Capital outlay 57,454 Administrative expenses 13,867 Total deductions 71,321 Change in net position (31,963) Net position - beginning 1,191,375 Net position - ending 1,159,412$ See auditors report on pages 11-12. STATEMENT OF CHANGES IN NET POSITION CITY OF PADUCAH, KENTUCKY -128- FOR THE YEAR ENDED JUNE 30, 2020 FIDUCIARY FUNDS - PRIVATE-PURPOSE TRUST FUNDS STATISTICAL SECTION This part of the City of Paducah's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information say about the City's overall financial health. 2020 2019 2018 (1)2017 2016 2015 (2)2014 2013 2012 2011 Governmental activities: Net Invested in Capital Assets 57,368,777$ 55,243,449$ 55,031,812$ 52,898,618$ 46,389,685$ 39,349,789$ 39,844,772$ 33,365,112$ 31,957,381$ 32,905,977$ Restricted for: Program purposes 208,525 213,379 128,699 131,055 147,218 144,857 205,979 284,760 897,942 1,264,986 Capital projects 732,616 964,320 1,959,953 2,137,650 1,148,789 2,427,218 2,168,201 1,301,421 4,105,639 5,987,399 Unrestricted (42,955,542) (37,543,113) (34,235,978) (17,834,152) (23,323,077) (22,209,537) 13,382,066 13,539,204 5,913,997 4,229,501 Total governmental activities net position 15,354,376$ 18,878,035$ 22,884,486$ 37,333,171$ 24,362,615$ 19,712,327$ 55,601,018$ 48,490,497$ 42,874,959$ 44,387,863$ Business-type activities: Net Invested in Capital Assets 2,465,553 2,494,761 2,876,483 2,152,827 1,678,728 1,133,226 1,210,415 1,232,735 1,308,574 1,334,230 Restricted for: Program purposes - - - - 38,247 124,012 437,483 385,885 732,817 999,885 Unrestricted (393,937) 256,715 159,847 1,513,281 3,194,228 3,033,822 3,837,034 3,428,267 3,246,320 3,004,783 Total business-type activities net postion 2,071,616$ 2,751,476$ 3,036,330$ 3,666,108$ 4,911,203$ 4,291,060$ 5,484,932$ 5,046,887$ 5,287,711$ 5,338,898$ Primary government: Net Invested in Capital Assets 59,834,330 57,738,210 57,908,295 55,051,445 48,068,413 40,483,015 41,055,187 34,597,847 33,265,955 34,240,207 Restricted for: Program purposes 208,525 213,379 128,699 131,055 185,465 268,869 643,462 670,645 1,630,759 2,264,871 Capital projects 732,616 964,320 1,959,953 2,137,650 1,148,789 2,427,218 2,168,201 1,301,421 4,105,639 5,987,399 Unrestricted (43,349,479) (37,286,398) (34,076,131) (16,320,871) (20,128,849) (19,175,715) 17,219,100 16,967,471 9,160,317 7,234,284 Total primary government net position 17,425,992$ 21,629,511$ 25,920,816$ 40,999,279$ 29,273,818$ 24,003,387$ 61,085,950$ 53,537,384$ 48,162,670$ 49,726,761$ (1)Significant change in governmental and business-type net position due to implementation of GASB No. 75 - Accounting and Financial Reporting for Other Postemployment Benefits other than Pensions. (2)Significant change in governmental and business-type net position due to implementation of GASB No. 68 - Accounting and Financial Reporting for Pensions. Fiscal Year TABLE 1 CITY OF PADUCAH, KENTUCKY NET POSITION BY COMPONENT Last Ten Fiscal Years (accrual basis of accounting) -129- Pages 1 of 2 2020 2019 2018 (1)2017 2016 2015 (2)2014 2013 2012 2011 Expenses Governmental activities: General government 10,574,490$ 8,891,713$ 9,590,575$ 8,652,987$ 9,777,876$ 9,801,489$ 8,005,619$ 7,843,140$ 12,937,997$ 9,786,052$ Public safety 27,623,826 27,002,119 25,602,852 20,176,070 20,503,784 17,974,548 18,439,670 18,204,945 17,045,731 16,993,228 Public service 7,491,652 7,681,383 7,511,063 7,771,335 10,266,856 6,855,234 6,982,536 6,167,510 6,163,602 7,328,806 Parks and recreation 3,597,301 3,544,515 3,397,087 3,059,447 3,052,360 2,811,533 2,750,531 2,710,659 2,654,098 2,748,333 Planning and development 2,049,447 3,511,710 1,455,677 1,077,265 911,830 1,000,020 1,805,379 1,463,659 1,192,952 1,212,103 Interest on long-term debt 1,026,449 800,175 861,589 885,380 900,593 850,827 1,084,016 1,066,876 1,059,537 1,363,580 Total governmental activities expenses 52,363,165 51,431,615 48,418,843 41,622,484 45,413,299 39,293,651 39,067,751 37,456,789 41,053,917 39,432,102 Business-type activities: Solid Waste 5,302,783 4,512,447 4,096,022 3,902,907 3,815,476 3,843,081 3,985,233 3,967,490 3,900,264 3,832,130 Section Eight Housing 1,620,623 2,046,520 2,064,408 1,952,441 1,874,074 1,819,328 1,855,869 2,032,843 1,921,004 1,956,728 Civic Center 57,990 70,956 76,639 92,471 74,457 98,318 81,982 78,000 71,069 76,546 Transit Boat Dock 83,834 93,047 50,535 1,031 - - - - - - TISA - - - - - - - - 173,708 183,546 Total business-type activities expenses 7,065,230 6,722,970 6,287,604 5,948,850 5,764,007 5,760,727 5,923,084 6,078,333 6,066,045 6,048,950 Total primary government expenses 59,428,395$ 58,154,585$ 54,706,447$ 47,571,334$ 51,177,306$ 45,054,378$ 44,990,835$ 43,535,122$ 47,119,962$ 45,481,052$ Program Revenues Governmental activities: Charges for services: General government 1,946,225$ 1,347,624$ 1,276,959$ 1,650,034$ 1,128,785$ 185,745$ 1,672,552$ 1,525,212$ 1,488,845$ 1,051,509$ Public safety 348,524 523,209 571,427 340,705 237,641 237,222 264,143 354,829 509,297 790,650 Public service 981,243 994,610 962,822 967,518 1,065,010 945,471 960,271 963,893 1,032,953 1,205,666 Parks and recreation 50,677 126,473 125,996 121,929 132,909 108,307 105,248 106,183 97,896 129,790 Planning and development - - - - - - - - - - Operating grants and contributions 3,000,719 2,513,938 2,441,864 7,509,005 6,179,709 3,360,731 5,419,715 3,067,581 2,215,247 2,086,625 Capital grants and contributions 2,192,974 1,685,423 542,980 3,702,428 4,139,036 899,522 4,136,749 2,165,548 533,169 1,767,093 Total governmental activities program revenues 8,520,362 7,191,277 5,922,048 14,291,619 12,883,090 5,736,998 12,558,678 8,183,246 5,877,407 7,031,333 Business-type activities: Solid Waste 4,738,408$ 4,597,398$ 4,555,488$ 4,567,392$ 4,520,084$ 4,453,865$ 4,410,059$ 4,372,060$ 4,437,341$ 4,476,139$ Section Eight Housing 299 1,504 - - - - - - - - Civic Center 15,423 29,784 35,670 36,725 40,148 43,486 41,266 38,265 34,038 33,766 Transit Boat Dock 72,788 79,362 43,534 - - - - - - - TISA - - - - - - - - 99,603 138,797 Operating grants and contributions 1,903,339 2,057,051 1,965,868 1,962,125 1,845,549 1,744,364 1,956,995 1,727,238 1,647,981 2,400,540 Capital grants and contributions - - - - - - - - 15,266 8,659 Total business-type activities program revenues 6,730,257 6,765,099 6,600,560 6,566,242 6,405,781 6,241,715 6,408,320 6,137,563 6,234,229 7,057,901 Total primary government program revenues 15,250,619$ 13,956,376$ 12,522,608$ 20,857,861$ 19,288,871$ 11,978,713$ 18,966,998$ 14,320,809$ 12,111,636$ 14,089,234$ TABLE 2 CITY OF PADUCAH, KENTUCKY CHANGES IN NET POSITION Last Ten Fiscal Years (accrual basis of accounting) Fiscal Year -130- Pages 2 of 2 2020 2019 2018 (1)2017 2016 2015 (1)2014 2013 2012 2011 Net (Expense)/Revenue Governmental activities (43,842,803)$ (44,240,338)$ (42,496,795)$ (27,330,865)$ (32,530,209)$ (33,556,653)$ (26,509,073)$ (29,273,543)$ (35,176,510)$ (32,400,769)$ Business-type activities (334,973) 42,129 312,956 617,392 641,774 480,988 485,236 59,230 168,184 1,008,951 Total primary government net (expense)(44,177,776)$ (44,198,209)$ (42,183,839)$ (26,713,473)$ (31,888,435)$ (33,075,665)$ (26,023,837)$ (29,214,313)$ (35,008,326)$ (31,391,818)$ General Revenues and Other Changes in Net Position Governmental activities: Taxes and licenses: Property taxes, levied for general purpose 5,670,956 5,449,122 5,248,369 4,996,242 4,943,962 4,726,244 4,622,292 4,502,276 4,267,812 4,402,226 Insurance premium tax 4,712,859 4,486,038 4,592,834 4,331,956 4,170,381 3,786,514 3,831,792 3,863,464 3,690,806 3,476,309 Gross receipts license tax 4,307,270 4,367,410 4,631,352 4,721,657 4,711,708 4,397,888 4,444,440 4,391,352 4,359,835 4,243,511 Employee license tax 21,490,918 21,648,742 21,054,644 20,803,763 20,130,249 19,092,912 18,114,396 18,336,124 18,095,182 17,345,033 Other taxes 3,060,362 2,941,096 3,044,203 2,933,407 2,759,902 2,964,685 2,785,333 2,799,043 2,711,924 2,712,817 Intergovernmental revenue - - - - - - - - - - Unrestricted investment earnings 610,727 728,227 428,721 188,097 137,224 176,229 232,204 211,306 203,261 264,913 Miscellaneous - 99,208 14,190 51,922 189,489 16,870 (482,137) 300,378 36,718 62,539 Insurance recoveries - - - - - - - - 27,448 410,462 Litigation settlement - - - - - - - - - (1,482,743) Transfers in/out 466,050 514,046 390,048 2,274,377 137,582 194,014 212,128 485,138 270,620 (125,772) Total governmental activities 40,319,142 40,233,889 39,404,361 40,301,421 37,180,497 35,355,356 33,760,448 34,889,081 33,663,606 31,309,295 Business-type activities: Unrestricted investment earnings 68,177 91,140 54,139 37,644 30,302 39,565 48,255 49,382 48,806 46,052 Miscellaneous 72,986 75,923 (13,063) 374,244 85,649 8,339 116,682 135,702 2,443 67,657 Transfers (466,050) (514,046) (390,048) (2,274,377) (137,582) (194,014) (212,128) (485,138) (270,620) 125,772 Total business-type activities (324,887) (346,983) (348,972) (1,862,489) (21,631) (146,110) (47,191) (300,054) (219,371) 239,481 Change in Net Position Governmental activities:(3,523,661) (4,006,449) (3,092,434) 12,970,556 4,650,288 1,798,703 7,251,375 5,615,538 (1,512,904) (1,091,474) Business-type activities:(659,860) (304,854) (36,016) (1,245,097) 620,143 334,878 438,045 (240,824) (51,187) 1,248,432 Total primary government (4,183,521)$ (4,311,303)$ (3,128,450)$ 11,725,459$ 5,270,431$ 2,133,581$ 7,689,420$ 5,374,714$ (1,564,091)$ 156,958$ (1)Significant change in governmental and business-type net position due to implementation of GASB No. 75 - Accounting and Financial Reporting for Other Postemployment Benefits other than Pensions. (2)Significant change in governmental and business-type net position due to implementation of GASB No. 68 - Accounting and Financial Reporting for Pensions. TABLE 2 (accrual basis of accounting) CHANGES IN NET POSITION -131- Fiscal Year CITY OF PADUCAH, KENTUCKY Last Ten Fiscal Years 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 General Fund Committed for: Pension reserve 670,365$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Unassigned 18,974,268 19,184,079 17,697,273 15,330,645 13,198,126 12,549,232 12,694,610 12,311,565 11,321,438 10,940,121 Total general fund 19,644,633$ 19,184,079$ 17,697,273$ 15,330,645$ 13,198,126$ 12,549,232$ 12,694,610$ 12,311,565$ 11,321,438$ 10,940,121$ All Other Governmental Funds Nonspendable: Inventory 453,398$ 474,816$ 471,135$ 525,732$ 623,735$ 828,419$ 1,497,659$ 1,336,234$ 1,098,304$ 1,253,953$ Restricted for: Program purposes 941,141 996,071 758,139 736,461 1,296,007 1,303,030 205,979 284,760 1,236,780 - Capital improvements 19,977,142 181,628 1,330,513 1,532,244 - 1,269,045 2,168,201 1,301,421 286,276 - Committed for: Capital improvements 2,934,287 2,352,368 2,310,621 2,387,922 2,018,581 1,814,834 1,758,934 2,589,099 2,631,233 2,587,012 Assigned for: Program purposes 1,599,371 1,491,921 1,323,941 1,325,941 1,049,802 951,296 802,692 752,691 472,235 683,578 Capital improvements 4,184,306 3,987,920 5,851,629 7,429,412 5,179,330 4,665,475 3,206,412 3,055,250 1,487,938 2,133,786 Total all other governmental funds 30,089,645$ 9,484,724$ 12,045,978$ 13,937,712$ 10,167,455$ 10,832,099$ 9,639,877$ 9,319,455$ 7,212,766$ 6,658,329$ -132- Fiscal Year TABLE 3 CITY OF PADUCAH, KENTUCKY Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Revenues: Taxes 8,652,093$ 7,803,520$ 7,741,994$ 7,310,257$ 6,976,933$ 6,987,173$ 6,713,889$ 6,583,690$ 6,343,608$ 6,223,511$ Licenses 30,962,169 30,987,476 30,817,507 30,360,825 29,606,552 27,804,759 26,987,110 27,197,290 26,753,432 25,704,849 Charges for services 918,894 980,827 1,037,668 964,766 884,259 848,971 851,080 815,791 817,607 811,590 Intergovernmental 1,305,247 1,246,666 1,243,856 1,140,622 1,132,852 1,244,417 2,624,363 1,240,312 1,191,835 1,148,362 Grants 2,832,657 2,580,700 1,056,687 6,476,765 8,892,529 2,496,329 5,923,651 3,737,402 1,699,399 2,992,519 Interest 495,449 594,569 364,975 144,079 115,922 148,411 199,583 175,371 162,580 205,837 Other 2,605,489 2,292,786 2,746,311 2,389,230 2,085,412 2,408,193 3,271,860 2,743,698 1,902,075 1,790,890 Total revenues 47,771,998 46,486,544 45,008,998 48,786,544 49,694,459 41,938,253 46,571,536 42,493,554 38,870,536 38,877,558 Expenditures: General government 5,083,231 4,776,778 5,282,385 4,881,298 4,526,828 4,484,105 4,311,103 4,481,485 5,117,194 5,151,370 Public safety 20,699,568 20,216,219 19,755,167 18,923,070 18,435,365 18,524,763 18,475,471 18,174,349 18,479,428 16,854,136 Public service 6,638,775 7,135,831 6,856,203 6,515,997 6,106,773 6,165,664 6,323,481 5,710,018 5,596,702 6,446,503 Parks and recreation 3,240,206 3,255,263 3,129,032 3,012,236 2,929,404 2,842,460 2,602,348 2,426,234 2,677,781 2,781,663 Planning and development 1,976,496 1,290,569 1,071,878 936,855 910,379 950,297 2,086,527 1,776,897 2,372,314 1,842,474 Other 431,505 430,441 441,674 393,812 441,742 247,878 640,452 766,847 516,534 486,239 Capital outlay 6,386,992 10,433,993 5,077,017 10,287,203 13,305,919 4,708,663 11,926,435 4,324,821 2,104,993 5,121,682 Debt service: Principal requirement 2,763,738 2,443,416 2,357,542 2,244,361 2,137,759 2,158,385 1,748,233 1,698,468 1,434,246 2,233,588 Debt issuance costs 182,105 86,283 - - - 51,461 109,292 - - - Interest and fiscal requirement 812,040 787,368 804,620 810,917 845,609 817,191 1,086,866 1,089,447 1,114,852 1,519,329 Total expenditures 48,214,656 50,856,161 44,775,518 48,005,749 49,639,778 40,950,867 49,310,208 40,448,566 39,414,044 42,436,984 Other Financing Sources (Uses): Bonds issued 20,520,000 5,370,000 - - - 4,225,000 9,055,000 - - - Payment to bond escrow agent - (2,815,573) - - - (4,143,964) (5,627,447) - - - Premium on debt issued - 332,097 - - - - 220,683 - - - Discount on debt issued (64,666) - - - - (29,576) (53,529) - - - Long-term debt draws/issued 463,262 133,749 - 3,000,000 - - - 308,112 101,983 366,039 Capital lease - - - - - - - 405,796 405,796 405,796 Transfers in 9,681,148 10,644,129 6,330,766 10,377,609 10,034,851 7,785,410 9,148,761 7,462,944 5,888,847 8,455,433 Transfers out (9,091,611) (10,369,233) (6,089,352) (8,255,627) (10,105,282) (7,780,785) (9,199,119) (7,125,024) (5,809,539) (8,201,253) Total other financing sources (uses)21,508,133 3,295,169 241,414 5,121,982 (70,431) 56,085 3,544,349 1,051,828 587,087 1,026,015 Net change in fund balances 21,065,475$ (1,074,448)$ 474,894$ 5,902,777$ (15,750)$ 1,043,471$ 805,677$ 3,096,816$ 43,579$ (2,533,411)$ Capital outlay (1)5,253,907$ 7,057,338$ 4,871,811$ 8,180,134$ 9,718,561$ 1,481,948$ 10,843,726$ 4,034,424$ 2,156,290$ 4,833,547$ Debt service as a percentage of noncapital expenditures 8.32%7.38%7.92%7.67%7.47%7.54%7.37%7.66%6.84%9.98% (1) Capital outlay is reported on the Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities. -133- Fiscal Year (modified accrual basis of accounting) TABLE 4 CITY OF PADUCAH, KENTUCKY Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years Total Estimated Direct Fiscal Personal Actual Tax Year Commercial Residential Property Franchise Total Value Rate Exemptions 2011 780,357,859 670,841,459 536,894,082 46,722,282 2,034,815,682 2,103,120,249 0.288 96.8%68,304,567 2012 781,685,815 685,984,380 524,400,400 48,227,212 2,040,297,807 2,108,802,723 0.287 96.8%68,504,916 2013 787,762,105 731,842,861 564,154,697 60,279,730 2,144,039,393 2,214,978,356 0.288 96.8%70,938,963 2014 826,805,152 743,249,074 585,142,381 41,487,586 2,196,684,193 2,270,597,754 0.292 96.7%73,913,561 2015 851,731,625 751,761,832 582,368,709 73,944,847 2,259,807,013 2,333,746,718 0.291 96.8%73,939,705 2016 902,687,182 783,886,570 573,896,954 57,561,993 2,318,032,699 2,394,834,871 0.289 96.8%76,802,172 2017 900,450,880 802,111,012 603,335,847 66,110,416 2,372,008,155 2,448,169,297 0.290 96.9%76,161,142 2018 945,354,526 842,349,240 746,891,857 81,951,770 2,616,547,393 2,697,740,881 0.295 97.0%81,193,488 2019 959,205,670 882,316,666 550,296,896 65,404,364 2,457,223,596 2,541,130,248 0.291 96.7%83,906,652 2020 988,724,688 903,643,347 518,116,004 40,179,286 2,450,663,325 2,539,860,943 0.293 96.5%89,197,618 Source: McCracken County Property Valuation Administrator Notes: Property in McCracken county is reassessed once every four years on average. -134- TABLE 5 CITY OF PADUCAH, KENTUCKY ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS Estimated Value Percent Assessed ToAssessed Value Real Estate Total Fiscal Real Direct Real Real Real Real Year Estate Personal Rate Estate Personal Estate Personal Estate Personal Estate Personal 2011 0.250 0.390 0.288 0.504 0.504 0.711 0.711 0.018 0.018 0.095 0.098 2012 0.250 0.390 0.287 0.504 0.504 0.747 0.747 0.018 0.018 0.098 0.119 2013 0.250 0.390 0.288 0.504 0.504 0.747 0.747 0.017 0.017 0.096 0.102 2014 0.255 0.390 0.292 0.504 0.504 0.767 0.767 0.017 0.017 0.095 0.101 2015 0.255 0.390 0.291 0.495 0.495 0.771 0.771 0.017 0.017 0.094 0.095 2016 0.255 0.390 0.289 0.524 0.524 0.800 0.800 0.017 0.017 0.098 0.102 2017 0.255 0.390 0.290 0.516 0.516 0.799 0.799 0.017 0.017 0.096 0.098 2018 0.255 0.390 0.295 0.520 0.530 0.797 0.797 0.016 0.016 0.094 0.094 2019 0.261 0.390 0.291 0.538 0.538 0.840 0.840 0.016 0.016 0.096 0.132 2020 0.267 0.390 0.293 0.538 0.538 0.864 0.864 0.016 0.016 0.101 0.142 Source: McCracken County Property Valuation Administrator and City Tax Levy Ordinance. General Fund City Direct Rates McCracken Co.City of Paducah -135- McCracken Paducah School Districts School Districts Junior College County TABLE 6 CITY OF PADUCAH, KENTUCKY PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS (PER $100 OF ASSESSED VALUE) LAST TEN FISCAL YEARS (1)(2) (1)(2) Assessed Assessed Taxpayer Valuation Valuation Kentucky Oaks Mall 48,570,333$ 1.98%50,900,262$ 2.50% Cpark Paducah LLC 20,111,900 0.82% Paducah Medical Investors 13,440,090 0.55%13,440,090 0.66% Ducmall LLC 13,119,800 0.54%14,374,800 0.71% Woodstone Enterprises LP 12,429,000 0.51% Wal Mart Real Estate Business 10,646,400 0.43%10,646,400 0.52% Superior Care Homes Properties 10,040,000 0.41% S & R Investments 10,000,000 0.41% Greenway Village LLC 9,844,867 0.40% Paducah Hospitality Partners 9,600,000 0.39% NRE Acquisition Co LLC 21,689,324 1.07% Ingram Barge Company 11,462,278 0.56% Sams Real Estate Business Trust 9,222,955 0.45% Computer Services Inc 9,083,185 0.45% TOTALS 157,802,390$ 6.44%140,819,294$ 6.92% (1) Source - Property Valuation Administration; Assessed value as of January 1, 2019. (2) Source - Property Valuation Administration; Assessed value as of January 1, 2010. -136- Percentage of Percentage of Total Assessed Total Assessed Valuation Valuation TABLE 7 CITY OF PADUCAH, KENTUCKY PRINCIPAL TAXPAYERS - PROPERTY TAX CURRENT YEAR AND NINE YEARS PRIOR 2020 2011 Total Collections to Date (1) (1)Percent of Percent of Amount of Levy Total Levy Collections Collected Collections Collected 4,179,497 4,110,973 98.4%68,524 4,179,497 100.0% 4,214,882 4,119,689 97.7%89,639 4,209,328 99.9% 4,427,258 4,334,698 97.9%86,291 4,420,989 99.9% 4,593,600 4,509,874 98.2%76,469 4,586,343 99.8% 4,718,003 4,644,522 98.4%64,363 4,708,885 99.8% 4,879,858 4,802,067 98.4%64,970 4,867,037 99.7% 4,989,629 4,888,303 98.0%83,477 4,971,780 99.6% 5,212,183 5,120,761 98.2%61,112 5,181,873 99.4% 5,454,811 5,323,669 97.6%81,092 5,404,761 99.1% 5,647,745 5,506,011 97.5%- 5,506,011 97.5% (1) Includes current year real and personal property tax. * Source - City of Paducah Finance Department. 2011 2014 Fiscal for the 2012 2013 TABLE 8 CITY OF PADUCAH, KENTUCKY SECURED TAX LEVIES AND COLLECTIONS* LAST TEN FISCAL YEARS June 30, Ended Year Fiscal Year Collections in Subsequent Years Collected within the Fiscal Year of the Levy Taxes Levied 2017 2015 2016 2019 -137- 2018 2020 (1)Direct Fiscal Taxes Tax Year Collected Rate 2011 17,345,034 2.00% 2012 18,095,182 2.00% 2013 18,336,124 2.00% 2014 18,114,396 2.00% 2015 19,092,911 2.00% 2016 20,130,158 2.00% 2017 20,803,763 2.00% 2018 21,054,644 2.00% 2019 21,648,742 2.00% 2020 21,490,917 2.00% 196,111,871 (1) Source - City of Paducah Finance Department - Actual collections during the fiscal year. -138- TABLE 9 CITY OF PADUCAH, KENTUCKY EMPLOYEE LICENSE TAX COLLECTIONS LAST TEN FISCAL YEARS (1)Percentage of Number of Percentage Taxes Total Employee Filers of Total Collected License Tax $0 - $50,000 2,130 97.22%9,346,496 43.49% $50,001 - $100,000 27 1.23%1,856,303 8.64% $100,001 - $500,000 29 1.32%5,766,208 26.83% Greater than $500,000 5 0.23%4,521,910 21.04% TOTALS 2,191 100.00%21,490,917$ 100.00% (1)Percentage of Number of Percentage Taxes Total Employee Filers of Total Collected License Tax $0 - $50,000 2,015 99.26%12,302,244 70.93% $50,001 - $100,000 10 0.49%1,595,813 9.20% $100,001 - $500,000 5 0.25%3,446,977 19.87% Greater than $500,000 0 0.00%- 0.00% TOTALS 2,030 100.00%17,345,034$ 100.00% (1) Source - City of Paducah Finance Department - Actual collections during the fiscal year. -139- Taxpayers By Range Taxpayers By Range 2020 2011 TABLE 10 CITY OF PADUCAH, KENTUCKY PRINCIPAL EMPLOYEE LICENSE TAXPAYERS CURRENT YEAR AND NINE YEARS PRIOR (1) Ratio of (3) Reported Net Net Net Debt as (2) General Refunding Total Debt to Percentage Net Fiscal Obligation Capital Revenue Primary Actual of Personal Debt Per Year Bonds Lease Bonds Government Value Income Capita 2011 24,879,948 4,910,742 - - - 29,790,690 1.42 5.92%1,190 2012 23,651,493 7,320,328 - - - 30,971,821 1.47 6.16%1,238 2013 22,361,906 6,920,838 - - - 29,282,744 1.32 5.82%1,170 2014 24,706,291 6,519,356 - - - 31,225,647 1.38 6.21%1,248 2015 23,320,347 6,101,064 - - - 29,421,411 1.26 5.85%1,176 2016 21,595,096 5,686,435 - - - 27,281,531 1.14 5.42%1,090 2017 19,815,809 8,218,304 - - - 28,034,113 1.15 5.57%1,120 2018 17,992,494 7,806,701 - - - 25,799,195 0.96 5.13%1,031 2019 19,863,092 6,451,453 - - - 26,314,545 1.04 5.23%1,052 2020 38,041,738 6,365,985 - - - 44,407,723 1.75 8.83%1,775 Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements. (1) See Table 5 for estimated actual property value. This ratio is calculated using estimated property value for the prior year. (2) See Table 16 for population data. (3) See Table 16 for personal income data TABLE 11 CITY OF PADUCAH, KENTUCKY RATIO OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS Public -140- Improvement Debt Net Public Debt Improvement (1) Ratio of Public Net Convention &Rental Floodwall Improvement Public Pool Economic Riverfront Recreation Bonds to Fiscal Art Center Building Rehabilitation Project Renovation Development and E911 Facility Actual Year Bonds Bonds Bonds Bonds Bonds Bonds Equipment Bonds Total Value 2011 7,040,000 5,125,000 3,780,000 2,564,948 6,370,000 - - - - - 24,879,948 1.18 994 2012 6,630,000 4,895,000 3,630,000 2,455,210 6,100,000 - - - - (58,717) 23,651,493 1.12 945 2013 6,220,000 4,655,000 3,370,000 2,341,790 5,825,000 - - - - (49,884) 22,361,906 1.01 894 2014 5,805,000 4,400,000 3,100,000 2,224,863 5,460,000 1,120,000 2,475,000 - - 121,428 24,706,291 1.09 987 2015 5,385,000 4,435,000 2,820,000 2,104,212 5,100,000 1,055,000 2,330,000 - - 91,135 23,320,347 1.00 932 2016 4,955,000 4,055,000 2,530,000 1,990,271 4,805,000 990,000 2,185,000 - - 84,825 21,595,096 0.90 863 2017 4,515,000 3,660,000 2,230,000 1,862,123 4,505,000 925,000 2,040,000 - - 78,686 19,815,809 0.81 792 2018 4,065,000 3,255,000 1,920,000 1,729,992 4,195,000 860,000 1,895,000 - - 72,502 17,992,494 0.67 719 2019 3,610,000 2,845,000 1,600,000 2,355,000 3,870,000 790,000 1,750,000 2,700,000 - 343,092 19,863,092 0.78 794 2020 3,140,000 2,420,000 1,265,000 2,045,000 3,560,000 720,000 1,600,000 2,555,000 20,520,000 216,738 38,041,738 1.50 1,520 Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements. (1) See Table 5 for estimated actual property value. This ratio is calculated using estimated property value for the prior year. (2) See Table 16 for population data. Police and Fire Pension Fund Bonds -141- Capita Amortization of Discounts and Premiums (2) Net Bonds Per TABLE 12 CITY OF PADUCAH, KENTUCKY RATIO OF NET GENERAL BONDED DEBT OUTSTANDING LAST TEN FISCAL YEARS Estimated (1)Share of Reported Percentage Direct and Debt Applicable Overlapping Outstanding to the City Debt City of Paducah 44,407,723$ 100.00%44,407,723$ Paducah Independent School District 59,452,000 *100.00%59,452,000 McCracken County 21,763,278 *45.80%9,967,581 McCracken County Board of Education 84,495,000 *32.10%27,122,895 Overlapping debt 165,710,278 96,542,476 TOTAL DIRECT AND OVERLAPPING DEBT 210,118,001$ 140,950,199$ (1) Applicable percentage is determined by ratio of assessed valuation of property subject to taxation in overlapping unit to valuation of property subject to taxation in reporting unit. * Information from finance office at each location. -142- TABLE 13 CITY OF PADUCAH, KENTUCKY DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT AS OF JUNE 30, 2020 Net assessed value 2,450,663,325$ Add exemption 89,197,618 Total assessed value 2,539,860,943$ Debt limit - 10% of total assessed (1)253,986,094$ Debt outstanding: General obligation bonds outstanding 38,041,738$ Note payable 6,365,985 Less debt not subject to limit - Gross bonded debt 44,407,723 Less amount available in debt service funds 1,271,289 Net bonded indebtedness subject to limit 43,136,434 LEGAL DEBT MARGIN 210,849,660$ 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Debt limit 253,986,094$ 254,113,025$ 244,995,800$ 244,792,901$ 239,483,487$ 233,374,672$ 227,059,775$ 221,497,836$ 212,207,634$ 210,312,025$ Total net debt applicable to limit 43,136,434 25,136,858 24,778,288 27,011,206 26,489,770 28,769,092 30,721,830 28,966,286 30,936,733 29,716,418 LEGAL DEBT MARGIN 210,849,660$ 228,976,167$ 220,217,512$ 217,781,695$ 212,993,717$ 204,605,580$ 196,337,945$ 192,531,550$ 181,270,901$ 180,595,607$ Total net debt applicable to the limited as a percentage of debt limit 16.98%9.89%11.03%11.06%12.33%13.08%14.58%14.13%15.11%12.03% (1) "Cities shall not be authorized or permitted to incur indebtedness to an amount, including existing indebtedness, in the aggregate exceeding the following names maximum percentages on the value of the taxable property therein, to be estimated by the assessment previous to the incurring of the indebtedness: Cities of the first and second classes, and of the third class having a population exceeding fifteen hundred, ten per centum." -143- Fiscal Year TABLE 14 CITY OF PADUCAH, KENTUCKY LEGAL DEBT MARGIN INFORMATION LAST TEN FISCAL YEARS (1)(1) Personal Income 25,024 503,179,300 20,430 41.4 2,789 8.7% 25,024 503,179,300 20,430 41.4 2,682 8.0% 25,024 503,179,300 20,430 41.4 2,744 8.4% 25,024 503,179,300 20,430 41.4 3,138 8.2% 25,024 503,179,300 20,430 41.4 2,843 5.6% 25,024 503,179,300 20,430 41.4 3,139 6.2% 25,024 503,179,300 20,430 41.4 3,132 6.8% 25,024 503,179,300 20,430 41.4 2,835 6.4% 25,024 503,179,300 20,430 41.4 2,980 5.5% 25,024 503,179,300 20,430 41.4 3,232 5.4% Sources: (1)Bureau of the Census Count - 2010 (2)Board of Education; represents elementary and secondary public schools. (3)Kentucky Cabinet for Human Resources, Department for Employment Services. -144- TABLE 15 CITY OF PADUCAH, KENTUCKY DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN FISCAL YEARS (1)(1)(2)(3) Per Capita Median School Unemployment Enrollment RateAgeIncome 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 Fiscal Year Population 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 Percentage of Percentage of Total Total Employees (1)Employment (2)Employees (1)Employment (2) Baptist Healthcare Systems 1,544 6.12% Bon Secours Mercy Health, Inc 1,511 5.99% Wal-Mart Associates, Inc.937 3.71%1,108 3.72% Paducah Board of Education 610 2.42%560 1.88% Kentucky Community & Technical College 466 1.85%510 1.71% Lowes of Paducah #465 388 1.54% Vi Wintech Window & Door 348 1.38% City of Paducah 337 1.33%370 1.24% Kroger #250 290 1.15% Computer Services Inc 276 1.09% Western Baptist Hospital 1,864 6.27% Lourdes Hospital, Inc.1,390 4.67% State of Kentucky 370 1.24% Paxton Media Group 225 0.76% LYNX Services 191 0.64% NRE Acquisitions 224 0.75% TOTALS 6,707 26.58%6,812 22.88% (1) Source - City of Paducah Finance Department (2) State of Kentucky - Office of Employment and Training. Ratio based on employment within County of McCracken. -145- Employer TABLE 16 CITY OF PADUCAH, KENTUCKY PRINCIPAL EMPLOYERS CURRENT YEAR AND NINE YEARS PRIOR 20112020 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Governmental Activities General government General administration 10 12 12 12 11 11 11 12 12 12 Finance 12 11 11 11 11 11 11 11 11 14 Inspection 0 0 0 0 0 0 0 0 11 11 Information systems 4 6 5 5 5 5 5 6 6 6 Clerk/Customer Experience 5 0 0 0 0 0 0 0 0 0 Risk/Human resources 3 3 3 4 3 3 3 3 3 1 Public safety Police 87 87 87 87 87 87 87 88 90 90 Fire 74 76 77 76 76 76 76 74 64.5 64 Public service Streets 21.2 21.2 21.2 21.2 21 21 20 20 23 23 Facilities 12.8 12.8 12.8 12.8 12.5 12.5 13.5 13.5 11.5 14 Engineering 5.2 5.3 5.3 5.8 6.6 6.6 6.6 7.6 7.6 7 E911**23 22 22 22 0 0 0 0 0 0 Other 5 5 5 5 5 5 5 5 5 6 Parks and recreation 27.7 27 27 25 25 25 24 24 24 24 Planning and development 8 12 11 11 10 10 9 9 9 9 Other Paducah Riverfront Dev. Authority 0 0 0 0 1 1 1 1 1 0 Renaissance 0 0 0 0 0 0 3 3 4 5 Boat dock 0.3 0 0 0 0 0 0 0 0 0 Fleet maintenance 6.5 6.5 6.5 6.5 6.5 6.5 6.5 6.5 6.5 6.5 Business-type Activities Solid waste 25.3 26.2 26.2 25.7 25.4 25.4 25.4 25.4 25.4 26 TOTAL PRIMARY GOVERNMENT 330 333 332 330 306 306 307 309 314.5 318 * Employee budget census. ** E911 became a City department effective 7/1/16. -146- Fiscal Year TABLE 17 CITY OF PADUCAH, KENTUCKY CITY FULL-TIME EMPLOYEES BY FUNCTION* Last Ten Fiscal Years 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 General government Building and electrical permits issued 972 1,130 1,179 1,285 1,344 1,175 1,251 1,202 1,232 1,239 Business licenses issued 3,787 3,401 4,240 4,234 3,826 3,729 3,717 3,966 3,956 3,254 Public safety Police Adult arrests 1,859 2,371 2,443 2,259 2,174 2,293 2,546 2,508 2,753 3,564 Murder 3 - 6 1 2 2 3 - 3 3 Rape 18 18 24 13 11 10 17 16 14 22 Robberies 16 29 17 29 42 41 36 38 14 31 Burglary 105 144 178 130 185 138 127 142 123 155 Auto theft 64 70 101 89 59 49 60 41 47 54 Larceny 833 1,115 1,064 1,027 1,173 1,138 1,090 1,110 1,005 1,013 Arson 11 9 10 6 7 2 3 5 7 6 Traffic accidents 1,706 1,901 1,770 1,826 1,936 1,722 1,664 1,573 1,666 1,762 Traffic violations 2,085 2,168 3,723 4,663 4,231 5,501 6,821 10,168 8,573 7,701 Fire Emergency responses 3,300 3,235 3,320 3,275 3,201 2,956 2,935 3,054 3,164 3,181 Fires extinguished 154 108 118 135 124 118 115 105 138 122 Structure fires 60 35 39 36 42 42 35 33 53 37 Incidents with reported losses 157 136 119 138 72 73 56 55 89 73 Medical/rescue 2,113 2,244 2,295 2,308 2,259 2,150 2,080 2,151 2,270 2,133 Tours/in-services/car seats 229 276 229 262 305 400 378 570 524 671 Training man hours 10,755 9,372 10,755 8,378 10,589 10,860 8,959 9,155 7,232 7,033 Inspections 893 1,060 709 2,126 2,060 1,324 1,710 1,157 1,417 1,063 Refuse collection Residential Refuse collected (tons 38 37 36 36 41 34 36 36 34 34 per day) Customers served 9,734 9,895 9,889 9,806 9,801 9,639 9,600 9,478 9,488 9,568 Commercial Refuse collected (tons 65 69 70 70 61 64 61 65 71 71 per day) Customers served 943 950 930 858 854 861 927 805 803 806 Public service 911 dispatches 90,603 90,191 94,187 94,053 85,380 83,465 83,614 92,786 79,333 82,268 Police 53,399 47,719 53,522 53,896 46,660 44,337 43,877 51,131 43,686 44,794 Fire 3,225 3,296 3,351 3,314 3,230 3,152 3,517 4,747 3,189 3,226 Other 33,979 39,176 37,314 36,843 35,490 35,976 36,220 36,908 32,458 34,248 * Information not available. ** Information from city departments. -147- Fiscal Year TABLE 18 CITY OF PADUCAH, KENTUCKY OPERATING INDICATORS BY FUNCTION** Last Ten Fiscal Years 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Public safety Police Stations 1 1 1 1 1 1 1 1 1 1 Fire Stations 5 5 5 5 5 5 5 5 5 5 Refuse collection Collection trucks Residential 10 10 10 10 10 10 10 10 10 9 Commercial 4 4 4 4 4 4 4 4 4 4 Other public works Streets (miles paved)218 218 218 218 218 218 218 218 218 218 Sidewalks (miles)47 47 47 47 47 47 47 47 47 47 Traffic signals 13 13 13 13 13 13 13 13 13 13 Parks and recreation Parks 29 29 29 29 29 28 28 27 27 27 Acreage 960 960 960 960 960 960 960 960 1125 1125 Community centers 2 2 2 2 2 2 2 2 2 2 Swimming pools 1 1 1 1 1 1 1 1 1 1 Public tennis courts 7 7 6 6 6 6 6 6 6 6 Public golf/disk golf courses 4 4 4 4 4 4 4 3 3 3 * Information from city departments. -148- Fiscal Year TABLE 19 CITY OF PADUCAH, KENTUCKY CAPITAL ASSET STATISTICS BY FUNCTION* Last Ten Fiscal Years Federal CFDA Pass-Through Pass-Through Program Title:Number Grantor Number To Subrecipients Expenditures Department of Housing and Urban Development: Direct Programs: Section 8 Housing Choice Vouchers 14.871 N/A -$ 1,889,338$ Pass-through Kentucky Governors Office for Local Development: Community Development Block Grants 14.228 N/A - 574,814 Community Development Block Grants 14.228 N/A 197,500 200,000 Total Department of Housing and Urban Development 197,500 2,664,152 Department of Justice: Direct Programs: Bulletproof Vest Partnership Program 16.607 N/A - 6,328 Bulletproof Vest Partnership Program 16.607 N/A - 1,944 Edward Byrne Memorial Justice Assistance Grant Program 16.738 N/A - 11,280 Total Department of Justice - 19,552 Department of Transportation: Passed-through Kentucky Transportation Cabinet State and Community Highway Safety 20.600 PT-19-52 - 1,658 State and Community Highway Safety 20.600 PT-20-58 - 5,442 Highway Planning and Construction 20.205 N/A - 378,559 Highway Planning and Construction 20.205 N/A - 208,681 Total Department of Transportation - 594,340 U.S. Department of the Treasury Direct Programs: Equitable Sharing 21.016 N/A - 6,450 Total U.S. Department of the Treasury - 6,450 Department of National Endowment for the Humanities: Direct Programs: Promotion of the Arts Grants to Organizations and Individuals 45.024 N/A - 75,000 45.025 N/A - 4,200 Total Department of National Endowment for the Humanities - 79,200 Department of Environmental Protection Agency: Passed-through Kentucky Infrastructure Association: Capitalization Grants for Clean Water State Revolving Funds 66.458 - 429,128 Total Department of Environmental Protection Agency - 429,128 Delta Regional Authority Direct Programs: Delta Creative Place - Making Pilot Initiative 90.203 - 20,000 Total Delta Regional Authority - 20,000 Department of Homeland Security: Passed-through Kentucky Division of Emergency Management: Disaster Grants - Public Assistance 97.036 N/A - 249,315 Disaster Grants - Public Assistance 97.036 N/A - 108,206 Total Department of Homeland Security - 357,521 TOTAL EXPENDITURES OF FEDERAL AWARDS 197,500$ 4,170,343$ See accompanying notes to schedule of expenditures of federal awards. -149- CITY OF PADUCAH, KENTUCKY SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED JUNE 30, 2020 Federal Grantor/Pass-Through Grantor/ Promotion of the Arts Partnership Code of Federal Regulations Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Award GOVERNMENT AUDITING STANDARDS Government Auditing Standards deficiency in internal control material weakness significant deficiency Government Auditing Standards Government Auditing Standards OMB Compliance Supplement Management’s Responsibility Auditor’s Responsibility Government Auditing Standards Code of Federal Regulations Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards Opinion on Each Major Federal Program deficiency in internal control over compliance material weakness in internal control over compliance significant deficiency in internal control over compliance Government Auditing Standards Government Auditing Standards U.S. Code of Federal Regulations Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Award Government Auditing Standards U.S. Code of Federal Regulations Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Award