Financial Statements Audit Report
City of Buckley
For the period January 1, 2017 through December 31, 2017
Published March 4, 2019
Report No. 1023292
Insurance Building, P.O. Box 40021 Olympia, Washington 98504-0021 (360) 902-0370 [email protected]
Office of the Washington State Auditor
Pat McCarthy
March 4, 2019
Mayor and City Council
City of Buckley
Buckley, Washington
Report on Financial Statements
Please find attached our report on the City of Buckley’s financial statements.
We are issuing this report in order to provide information on the City’s financial condition.
Sincerely,
Pat McCarthy
State Auditor
Olympia, WA
Washington State Auditor’s Office Page 3
TABLE OF CONTENTS
Schedule of Audit Findings and Responses .................................................................................... 4
Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance
and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards..................................................................................................... 8
Independent Auditor's Report on Financial Statements ................................................................ 11
Financial Section ........................................................................................................................... 15
About the State Auditor's Office ................................................................................................... 35
Washington State Auditor’s Office Page 4
SCHEDULE OF AUDIT FINDINGS AND RESPONSES
2017-001 The City’s internal controls financial statements preparation were
inadequate to ensure accurate financial reporting.
Background
The City Council, state and federal agencies and the public rely on the information
included in the financial statements and reports to make decisions. City
management is responsible for designing, implementing and maintaining internal
controls to ensure financial statements are fairly presented and to provide
reasonable assurance regarding the reliability of financial reporting. The City
prepares its financial statements in accordance with the cash basis Budgeting,
Accounting and Reporting System (BARS) manual.
Our audit identified deficiencies in the City’s internal controls over financial
reporting that hindered the City’s ability to produce reliable financial statements.
Government Auditing Standards requires the auditor to communicate material
weaknesses in internal controls, as defined in the Applicable Laws and Regulations
section below, as a finding.
Description of Condition
During the current audit, we identified the following deficiencies in internal
controls that, when taken together, represent a material weakness:
The City has a process for reviewing the prepared financial statements, notes and
required schedules. The staff member responsible for financial statements
preparation did not have necessary knowledge of reporting standards to ensure
accurate presentation, and prepared the financial statements without consideration
of discrepancies in the bank reconciliations. The review performed was not
effective to detect and correct errors before financial statements were submitted for
the audit.
The City contracted with a certified public accountant (CPA) to perform the bank
reconciliations. The CPA identified differences that the City did not investigate or
correctly report before preparing the City’s financial report. As a result, cash was
not correctly reported in all funds, as not all of the bank deposits or withdrawals
were recorded in General Ledger in appropriate accounting period.
Washington State Auditor’s Office Page 5
Cause of Condition
The City did not dedicate sufficient resources to ensure cash reconciliation
discrepancies identified by the contracted CPA were investigated and resolved or
that the cash reconciliation performed by the City included all of the reconciling
items such as deposits in transits and outstanding checks.
The City did not dedicate sufficient time and resources to ensure staff training and
knowledge were adequate to prepare financial statements that were free of material
errors and presented in accordance with the BARS Manual.
The City’s review process was not effective to ensure that the statements, notes to
financial statements and required schedules complied with reporting standards.
Effect of Condition
Inaccurate financial reports limit access to financial information used by the City
officials, the public, state and federal agencies, and other interested parties. They
also hinder the audit process and increase audit costs.
We identified the following material errors:
The City understated reserved ending cash balances in 11 funds, totaling
$1,936,773.
The City overstated $706,213 of transfers in and $652,462 of transfers out
by not eliminating intrafund transactions.
The City overstated its pension liability ending balance by $3,009,315.
In addition, our audit identified multiple classification, presentation and disclosure
errors on the City’s financial statements, notes and supplementary schedules.
The City did not fully reconcile cash in the bank to the general ledger monthly. We
identified variances in all 12 months, ranging between $700 and $36,000. We found
$9,733 in funds that were deposited in December 2017 but not reported in the
General Ledger.
Recommendations
We recommend the City:
Establish and follow effective internal controls over financial reporting to
ensure it complies with BARS Manual requirements
Ensure staff responsible for preparing financial statements have the
necessary training to prepare accurate and complete financial statements in
accordance with BARS Manual requirements
Washington State Auditor’s Office Page 6
Conduct an effective, independent financial statement review that ensures
the financial statements and footnotes are prepared in accordance with
BARS Manual requirements
Ensure staff responsible for reviewing the CPA’s bank reconciliations and
performing the City’s bank reconciliations investigate and resolve all
discrepancies identified
Implement a process to ensure all of the received funds are recorded in the
General Ledger in a timely manner
City’s Response
The City Administration was recently informed that the City would be receiving a
"Finding" based on deficiencies related to internal controls that represents a
material weakness.
The City’s finance department has, in the past been woefully understaffed due to a
lack of resources. Prior to the current calendar year, the Finance Department
consisted of the Finance Director and a contract CPA, which we first began using
for reporting review in 2017. The two primary deficiencies and/or weaknesses
identified were related to monthly reconciliation and errors in the annual financial
report.
The deficiencies in monthly reconciliation occurs when financial transactions (i.e.
utility payments, credit card payments and electronic payment from vendors) are
receipted in on the last working day of the month but are not deposited until the
first working day of the following month. These transactions are currently notated
in the general ledger on the month that the receipts are written, but not tracked into
the following month, which then results in a disparity. The City is in the process of
developing a new standard practice/procedure to capture these transactions in the
correct month.
The reporting error in the annual financial report relating to reserved ending cash
balances was the result of an accounting software problem where correct balances
were reflected in the accounting program “on screen,” but when transferred to
copy on the printer, failed to reflect the same information. The reviewer failed to
catch this discrepancy prior to submittal. City staff has reviewed the process
multiple times and are currently working with the software developer to correct the
issue. Until the issue has been corrected, staff is entering reporting information
manually in an excel spreadsheet.
The Administration here at Buckley has a combined 60+ years of local government
experience and is committed to a standard of excellence. We work diligently to
Washington State Auditor’s Office Page 7
ensure transparency and public trust. Our record is outstanding in this regard as
is evidenced by past audits, and recent bond upgrades by Standard & Poor's. All
of the City's account balances were in order and total amounts balanced with City
budget, checking accounts and investment statements.
Auditor’s Remarks
We appreciate the timely actions taken by City staff during the audit to improve
reporting accuracy. City staff were very helpful during the audit process. We will
review these changes during our next audit.
Applicable Laws and Regulations
Government Auditing Standards, December 2011 Revision, paragraph 4.23
establishes reporting requirements related to significant deficiencies or material
weaknesses in internal control, instances of fraud or abuse, and noncompliance with
provisions of law, regulations, contracts, or grant agreements.
The American Institute of Certified Public Accountants defines significant
deficiencies and material weaknesses in its Codification of Statements on Auditing
Standards, section 265, Communicating Internal Control Related Matters Identified
in an Audit, paragraph 7
RCW 43.09.200 Local government accounting – Uniform system of accounting,
requires the state auditor to prescribe the system of accounting and reporting for all
local governments.
The Budgeting, Accounting, and Reporting System (BARS) Manual, 3.1.3, Internal
Control, requires each local government to establish and maintain an effective
system of internal controls that provides reasonable assurance that the government
will achieve its objectives.
Washington State Auditor’s Office Page 8
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND
OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
City of Buckley
January 1, 2017 through December 31, 2017
Mayor and City Council
City of Buckley
Buckley, Washington
We have audited, in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States, the financial statements of the
City of Buckley, as of and for the year ended December 31, 2017, and the related notes to the
financial statements, which collectively comprise the City’s financial statements, and have issued
our report thereon dated February 7, 2019.
We issued an unmodified opinion on the fair presentation of the City’s financial statements in
accordance with its regulatory basis of accounting. We issued an adverse opinion on the fair
presentation with regard to accounting principles generally accepted in the United States of
America (GAAP) because the financial statements are prepared by the City using accounting
practices prescribed by Washington State statutes and the State Auditor’s Budgeting, Accounting
and Reporting System (BARS) manual described in Note 1, which is a basis of accounting other
than GAAP. The effects on the financial statements of the variances between the basis of
accounting described in Note 1 and accounting principles generally accepted in the United States
of America, although not reasonably determinable, are presumed to be material.
INTERNAL CONTROL OVER FINANCIAL REPORTING
In planning and performing our audit of the financial statements, we considered the City’s internal
control over financial reporting (internal control) to determine the audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinions on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s
internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s
internal control.
Washington State Auditor’s Office Page 9
Our consideration of internal control was for the limited purpose described in the preceding
paragraph and was not designed to identify all deficiencies in internal control that might be
material weaknesses or significant deficiencies and therefore, material weaknesses or significant
deficiencies may exist that were not identified. However, as described in the accompanying
Schedule of Audit Findings and Responses, we identified certain deficiencies in internal control
that we consider to be material weaknesses.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control such that there is a reasonable possibility that a
material misstatement of the City's financial statements will not be prevented, or detected and
corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of
deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance. We consider the deficiencies described in
the accompanying Schedule of Audit Findings and Responses as Finding 2017-001 to be material
weaknesses.
COMPLIANCE AND OTHER MATTERS
As part of obtaining reasonable assurance about whether the City’s financial statements are free
from material misstatement, we performed tests of the City’s compliance with certain provisions
of laws, regulations, contracts and grant agreements, noncompliance with which could have a
direct and material effect on the determination of financial statement amounts. However,
providing an opinion on compliance with those provisions was not an objective of our audit, and
accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance or other matters that are required
to be reported under Government Auditing Standards.
CITY’S RESPONSE TO FINDINGS
The City’s response to the findings identified in our audit is described in the accompanying
Schedule of Audit Findings and Responses. The City’s response was not subjected to the auditing
procedures applied in the audit of the financial statements and, accordingly, we express no opinion
on the response.
Washington State Auditor’s Office Page 10
PURPOSE OF THIS REPORT
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
City’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City’s internal control and
compliance. Accordingly, this communication is not suitable for any other purpose. However,
this report is a matter of public record and its distribution is not limited. It also serves to
disseminate information to the public as a reporting tool to help citizens assess government
operations.
Pat McCarthy
State Auditor
Olympia, WA
February 7, 2019
Washington State Auditor’s Office Page 11
INDEPENDENT AUDITOR’S REPORT ON
FINANCIAL STATEMENTS
City of Buckley
January 1, 2017 through December 31, 2017
Mayor and City Council
City of Buckley
Buckley, Washington
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the City of Buckley, for the year ended
December 31, 2017, and the related notes to the financial statements, which collectively comprise
the City’s financial statements, as listed on page 15.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with the financial reporting provisions of Washington State statutes and the
Budgeting, Accounting and Reporting System (BARS) manual prescribed by the State Auditor
described in Note 1. This includes determining that the basis of accounting is acceptable for the
presentation of the financial statements in the circumstances. Management is also responsible for
the design, implementation and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud
or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement of the financial statements, whether
Washington State Auditor’s Office Page 12
due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the City’s preparation and fair presentation of the financial statements in order to design
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the City’s internal control. Accordingly, we express no such
opinion. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
Unmodified Opinion on Regulatory Basis of Accounting (BARS Manual)
As described in Note 1, the City of Buckley has prepared these financial statements to meet the
financial reporting requirements of Washington State statutes using accounting practices
prescribed by the State Auditor’s Budgeting, Accounting and Reporting System (BARS) manual.
Those accounting practices differ from accounting principles generally accepted in the United
States of America (GAAP). The differences in these accounting practices are also described in
Note 1.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the financial position and results of operations of the City of Buckley, for the year ended
December 31, 2017, on the basis of accounting described in Note 1.
Basis for Adverse Opinion on U.S. GAAP
Auditing standards issued by the American Institute of Certified Public Accountants (AICPA)
require auditors to formally acknowledge when governments do not prepare their financial
statements, intended for general use, in accordance with GAAP. The effects on the financial
statements of the variances between GAAP and the accounting practices the City used, as
described in Note 1, although not reasonably determinable, are presumed to be material. As a
result, we are required to issue an adverse opinion on whether the financial statements are
presented fairly, in all material respects, in accordance with GAAP.
Washington State Auditor’s Office Page 13
Adverse Opinion on U.S. GAAP
The financial statements referred to above were not intended to, and in our opinion they do not,
present fairly, in accordance with accounting principles generally accepted in the United States of
America, the financial position of the City of Buckley, as of December 31, 2017, or the changes
in financial position or cash flows for the year then ended, due to the significance of the matter
discussed in the above “Basis for Adverse Opinion on U.S. GAAP” paragraph.
Other Matters
Supplementary and Other Information
Our audit was conducted for the purpose of forming an opinion on the financial statements taken
as a whole. The Schedule of Liabilities is presented for purposes of additional analysis, as required
by the prescribed BARS manual. This schedule is not a required part of the financial statements.
Such information is the responsibility of management and was derived from and relates directly to
the underlying accounting and other records used to prepare the financial statements. The
information has been subjected to the auditing procedures applied in the audit of the financial
statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the financial
statements or to the financial statements themselves, and other additional procedures in accordance
with auditing standards generally accepted in the United States of America. In our opinion, the
information is fairly stated, in all material respects, in relation to the financial statements taken as
a whole.
OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING
STANDARDS
In accordance with Government Auditing Standards, we have also issued our report dated
February 7, 2019 on our consideration of the City’s internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts and grant
agreements and other matters. The purpose of that report is to describe the scope of our testing of
internal control over financial reporting and compliance and the results of that testing, and not to
provide an opinion on internal control over financial reporting or on compliance. That report is an
Washington State Auditor’s Office Page 14
integral part of an audit performed in accordance with Government Auditing Standards in
considering the City’s internal control over financial reporting and compliance.
Pat McCarthy
State Auditor
Olympia, WA
February 7, 2019
Washington State Auditor’s Office Page 15
FINANCIAL SECTION
City of Buckley
January 1, 2017 through December 31, 2017
FINANCIAL STATEMENTS
Fund Resources and Uses Arising from Cash Transactions – 2017
Fiduciary Fund Resources and Uses Arising from Cash Transactions – 2017
Notes to Financial Statements – 2017
SUPPLEMENTARY AND OTHER INFORMATION
Schedule of Liabilities – 2017
Beginning Cash and Investments30810 Reserved30880 Unreserved388 / 588 Prior Period Adjustments, Net
Revenues310 Taxes320 Licenses and Permits330 Intergovernmental Revenues340 Charges for Goods and Services350 Fines and Penalties360 Miscellaneous RevenuesTotal Revenues:
Expenditures510 General Government520 Public Safety530 Utilities540 Transportation550 Natural and Economic
Environment560 Social Services570 Culture and RecreationTotal Expenditures: Excess (Deficiency) Revenues over Expenditures:
Other Increases in Fund Resources391-393, 596 Debt Proceeds397 Transfers-In385 Special or Extraordinary Items386 / 389 Custodial Activities381, 395, 398 Other ResourcesTotal Other Increases in Fund Resources:
Other Decreases in Fund Resources594-595 Capital Expenditures591-593, 599 Debt Service597 Transfers-Out585 Special or Extraordinary Items586 / 589 Custodial Activities581 Other UsesTotal Other Decreases in Fund Resources:
Increase (Decrease) in Cash and Investments:Ending Cash and Investments
5081000 Reserved5088000 UnreservedTotal Ending Cash and Investments
Total for All Funds
(Memo Only)001 Current
Expense101 Street Operations
102 Street Capital
Improvements
2,000,931 - 19,600 476,82310,193,903 7,013,569 - -
- - - -
3,677,640 2,679,916 - -421,661 421,661 - -669,335 149,696 103,324 383,401
5,238,885 536,723 15,900 220,780121,548 121,548 - -
1,504,437 271,603 40 1,59111,633,506 4,181,147 119,263 605,772
1,424,810 1,424,810 - -2,435,310 2,094,660 - -3,141,572 145 - -
367,542 - 163,037 203,487558,574 466,910 - -
1,206 1,206 - -435,207 434,203 - -
8,364,221 4,421,934 163,037 203,4873,269,285 (240,787) (43,773) 402,285
- - - -2,008,124 715,192 97,500 43,750
- - - -200,372 178,055 - -165,000 - - -
2,373,496 893,247 97,500 43,750
1,596,100 181,944 - 670,5421,040,461 - - -1,954,374 166,712 71,226 45,696
- - - -196,740 193,339 - -
- - - -4,787,675 541,995 71,226 716,238
855,106 110,465 (17,499) (270,203)
1,936,775 - 2,100 206,62011,113,165 7,124,033 - -13,049,940 7,124,033 2,100 206,620
The accompanying notes are an integral part of this statement.
City of BuckleyFund Resources and Uses Arising from Cash Transactions
For the Year Ended December 31, 2017
Page 16
Beginning Cash and Investments30810 Reserved30880 Unreserved388 / 588 Prior Period Adjustments, Net
Revenues310 Taxes320 Licenses and Permits330 Intergovernmental Revenues340 Charges for Goods and Services350 Fines and Penalties360 Miscellaneous RevenuesTotal Revenues:
Expenditures510 General Government520 Public Safety530 Utilities540 Transportation550 Natural and Economic
Environment560 Social Services570 Culture and RecreationTotal Expenditures: Excess (Deficiency) Revenues over Expenditures:
Other Increases in Fund Resources391-393, 596 Debt Proceeds397 Transfers-In385 Special or Extraordinary Items386 / 389 Custodial Activities381, 395, 398 Other ResourcesTotal Other Increases in Fund Resources:
Other Decreases in Fund Resources594-595 Capital Expenditures591-593, 599 Debt Service597 Transfers-Out585 Special or Extraordinary Items586 / 589 Custodial Activities581 Other UsesTotal Other Decreases in Fund Resources:
Increase (Decrease) in Cash and Investments:Ending Cash and Investments
5081000 Reserved5088000 UnreservedTotal Ending Cash and Investments
103 Transportation Benefit District
105 Emergency Medical Services
109 Crim Just/drug
Enforcement
134 Fire Dept Station
Construction
36,058 134,738 84,014 205,830- - - -- - - -
93,776 225,007 74,414 -- - - -- 1,270 6,645 -- 70,517 - 8,753- - - -
242 10,593 733 3,86194,018 307,386 81,792 12,614
- - - -- 280,136 16,686 11,977- - - -
978 - - -- - - -
- - - -- - - -
978 280,136 16,686 11,97793,040 27,251 65,106 637
- - - -- - - -- - - -- 5,535 - -- - - -- 5,535 - -
53,750 - - 1,074- - - -
43,750 7,500 50,000 2,705- - - -- - - -- - - -
97,500 7,500 50,000 3,779
(4,460) 25,286 15,106 (3,142)
31,598 160,023 99,120 202,689- - - -
31,598 160,023 99,120 202,689
City of BuckleyFund Resources and Uses Arising from Cash Transactions
For the Year Ended December 31, 2017
Page 17
Beginning Cash and Investments30810 Reserved30880 Unreserved388 / 588 Prior Period Adjustments, Net
Revenues310 Taxes320 Licenses and Permits330 Intergovernmental Revenues340 Charges for Goods and Services350 Fines and Penalties360 Miscellaneous RevenuesTotal Revenues:
Expenditures510 General Government520 Public Safety530 Utilities540 Transportation550 Natural and Economic
Environment560 Social Services570 Culture and RecreationTotal Expenditures: Excess (Deficiency) Revenues over Expenditures:
Other Increases in Fund Resources391-393, 596 Debt Proceeds397 Transfers-In385 Special or Extraordinary Items386 / 389 Custodial Activities381, 395, 398 Other ResourcesTotal Other Increases in Fund Resources:
Other Decreases in Fund Resources594-595 Capital Expenditures591-593, 599 Debt Service597 Transfers-Out585 Special or Extraordinary Items586 / 589 Custodial Activities581 Other UsesTotal Other Decreases in Fund Resources:
Increase (Decrease) in Cash and Investments:Ending Cash and Investments
5081000 Reserved5088000 UnreservedTotal Ending Cash and Investments
136 Visitor Promo & Devel
202 Fire Station Construction Debt Service
307 Capital Improvement
308 Comp Plan Capital Improve
102,362 52,566 490,642 235,861- - - -- - - -
31,094 303,760 134,837 134,837- - - -- - - -- - - -- - - -
1,228 - 64,088 1,77432,321 303,760 198,925 136,611
- - - -- - - 31,851- - - -- - - -
10,972 - 149 80,543
- - - -543 - - 460
11,515 - 149 112,85420,807 303,760 198,776 23,757
- - - -- 2,705 75,000 -- - - -- - - -- - 165,000 -- 2,705 240,000 -
- - 273,975 -- 300,300 - -
3,688 - 29,962 -- - - -- - - -- - - -
3,688 300,300 303,937 -
17,119 6,165 134,839 23,757
119,479 58,731 625,482 259,618- - - -
119,479 58,731 625,482 259,618
City of BuckleyFund Resources and Uses Arising from Cash Transactions
For the Year Ended December 31, 2017
Page 18
Beginning Cash and Investments30810 Reserved30880 Unreserved388 / 588 Prior Period Adjustments, Net
Revenues310 Taxes320 Licenses and Permits330 Intergovernmental Revenues340 Charges for Goods and Services350 Fines and Penalties360 Miscellaneous RevenuesTotal Revenues:
Expenditures510 General Government520 Public Safety530 Utilities540 Transportation550 Natural and Economic
Environment560 Social Services570 Culture and RecreationTotal Expenditures: Excess (Deficiency) Revenues over Expenditures:
Other Increases in Fund Resources391-393, 596 Debt Proceeds397 Transfers-In385 Special or Extraordinary Items386 / 389 Custodial Activities381, 395, 398 Other ResourcesTotal Other Increases in Fund Resources:
Other Decreases in Fund Resources594-595 Capital Expenditures591-593, 599 Debt Service597 Transfers-Out585 Special or Extraordinary Items586 / 589 Custodial Activities581 Other UsesTotal Other Decreases in Fund Resources:
Increase (Decrease) in Cash and Investments:Ending Cash and Investments
5081000 Reserved5088000 UnreservedTotal Ending Cash and Investments
401 Natural Gas402 Water
Sewer 403 Solid Waste
407 Storm Water
Operations &
- - - -4,078 2,093,635 12,949 882,622
- - - -
- - - -- - - -- - - 25,000
2,193 2,870,308 973,047 531,455- - - -
32 721,652 88 424,6672,225 3,591,960 973,135 981,123
- - - -- - - -
235 1,893,988 887,344 359,860- - - 40- - - -
- - - -- - - -
235 1,893,988 887,344 359,9001,990 1,697,972 85,791 621,222
- - - -- 937,537 - 100,177- - - -- 11,283 - 5,500- - - -- 948,820 - 105,677
- 270,068 - 90,520- 740,161 - -
3,000 1,237,891 64,863 225,589- - - -- 2,987 84 -- - - -
3,000 2,251,108 64,947 316,109
(1,010) 395,684 20,844 410,790
- - - -3,068 2,489,318 33,794 1,293,4133,068 2,489,318 33,794 1,293,413
City of BuckleyFund Resources and Uses Arising from Cash Transactions
For the Year Ended December 31, 2017
Page 19
Beginning Cash and Investments30810 Reserved30880 Unreserved388 / 588 Prior Period Adjustments, Net
Revenues310 Taxes320 Licenses and Permits330 Intergovernmental Revenues340 Charges for Goods and Services350 Fines and Penalties360 Miscellaneous RevenuesTotal Revenues:
Expenditures510 General Government520 Public Safety530 Utilities540 Transportation550 Natural and Economic
Environment560 Social Services570 Culture and RecreationTotal Expenditures: Excess (Deficiency) Revenues over Expenditures:
Other Increases in Fund Resources391-393, 596 Debt Proceeds397 Transfers-In385 Special or Extraordinary Items386 / 389 Custodial Activities381, 395, 398 Other ResourcesTotal Other Increases in Fund Resources:
Other Decreases in Fund Resources594-595 Capital Expenditures591-593, 599 Debt Service597 Transfers-Out585 Special or Extraordinary Items586 / 589 Custodial Activities581 Other UsesTotal Other Decreases in Fund Resources:
Increase (Decrease) in Cash and Investments:Ending Cash and Investments
5081000 Reserved5088000 UnreservedTotal Ending Cash and Investments
430 Utility Equipment
Reserve701 Cemetery Improvement
- 162,436187,050 -
- -
- -- -- -- 9,208- -
2,246 -2,246 9,208
- -- -- -- -- -
- -- -- -
2,246 9,208
- -36,262 -
- -- -- -
36,262 -
54,227 -- -
1,791 -- -- 330- -
56,018 330
(17,510) 8,878
- 171,314169,539 -169,539 171,314
City of BuckleyFund Resources and Uses Arising from Cash Transactions
For the Year Ended December 31, 2017
Page 20
308 Beginning Cash and Investments388 & 588 Prior Period Adjustment, Net310-390 Additions510-590 Deductions
Net Increase (Decrease) in Cash and Investments:
508 Ending Cash and Investments
Agency
15,390-
375,698375,929
(231)
15,159
City of BuckleyFiduciary Fund Resources and Uses Arising from Cash Transactions
For the Year Ended December 31, 2017
The accompanying notes are an integral part of this statement.
Page 21
Cash Basis Budgeting, Accounting and Reporting System
Schedule of Liabilities
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Page 24
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(combine with PERS 1 for reporting)
(combine with TRS 1 for reporting)
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Total Net Pension Liability (Schedule 09)
Net Pension Assets (do not net with the liabilities)
Assets not reported on Schedule 09
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Page 31
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ID. No. DescriptionBeginning Balance Additions Reductions Ending BalanceDue Date
General Obligation Debt/Liabilities
251.12 Fire Station - GO Bond (voted) 4,415,000 - 110,000 4,305,00012/1/2040
4,415,000 - 110,000 4,305,000Total General Obligation Debt/Liabilities:
Revenue and Other (non G.O.) Debt/Liabilities
263.82 Sewer - PW 97 63,156 - 63,156 -6/30/2017
263.82 Sewer - PW 98 69,338 - 34,667 34,6716/30/2018
263.82 Sewer - PW 03 276,621 - 39,517 237,1046/30/2023
263.82 STP Upgrade - PW 06 3,500,000 - 350,000 3,150,0006/30/2026
263.82 Sewer - PC 08 1,421,053 - 118,421 1,302,6326/30/2028
263.82 Water - PC 13 1,474,131 - 99,152 1,374,9796/1/2032
259.12 Gen'l Obligation-Compensated Absence Liability
365,112 20,860 - 385,97212/31/2017
259.12 W/S/WWTP - Compensated Absence Liability
52,235 10,270 - 62,50512/31/2017
264.30 Pension Liability 1,613,529 - 183,963 1,429,566
8,835,175 31,130 888,876 7,977,429Total Revenue and Other (non G.O.) Debt/Liabilities:
12,282,429998,87631,13013,250,175Total Liabilities:
City of BuckleySchedule of Liabilities
For the Year Ended December 31, 2017
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Washington State Auditor’s Office Page 35
ABOUT THE STATE AUDITOR’S OFFICE
The State Auditor's Office is established in the state's Constitution and is part of the executive
branch of state government. The State Auditor is elected by the citizens of Washington and serves
four-year terms.
We work with our audit clients and citizens to achieve our vision of government that works for
citizens, by helping governments work better, cost less, deliver higher value, and earn greater
public trust.
In fulfilling our mission to hold state and local governments accountable for the use of public
resources, we also hold ourselves accountable by continually improving our audit quality and
operational efficiency and developing highly engaged and committed employees.
As an elected agency, the State Auditor's Office has the independence necessary to objectively
perform audits and investigations. Our audits are designed to comply with professional standards
as well as to satisfy the requirements of federal, state, and local laws.
Our audits look at financial information and compliance with state, federal and local laws on the
part of all local governments, including schools, and all state agencies, including institutions of
higher education. In addition, we conduct performance audits of state agencies and local
governments as well as fraud, state whistleblower and citizen hotline investigations.
The results of our work are widely distributed through a variety of reports, which are available on
our website and through our free, electronic subscription service.
We take our role as partners in accountability seriously, and provide training and technical
assistance to governments, and have an extensive quality assurance program.
Contact information for the State Auditor’s Office
Public Records requests [email protected]
Main telephone (360) 902-0370
Toll-free Citizen Hotline (866) 902-3900
Website www.sao.wa.gov