Finance - Annual Audit - 09/30/2013CITY OF EAGLE
FINANCIAL STATEMENTS
Year Ended September 30, 2013
CITY OF EAGLE
Table of Contents
PAGE (S)
FINANCIAL SECTION
Independent Auditor's Report............................................................. 1-3
BASIC FINANCIAL STATEMENTS
Government -Wide Financial Statements
Statement of Net Position......................................................... 4
Statement of Activities............................................................. 5
Fund Financial Statements
Balance Sheet — Governmental Funds ............................................ 6-8
Statement of Revenues, Expenditures, and Changes in Fund Balances —
Governmental Funds........................................................... 9-11
Statement of Net Position — Proprietary Fund .................................. 12
Statement of Revenues, Expenses, and Changes in Net Position —
Proprietary Fund................................................................ 13
Statement of Cash Flows — Proprietary Fund ................................... 14
Notes to Financial Statements..................................................... 15-24
REOUIRED SUPPLEMENTARY INFORMATION
Budgetary Comparison Schedule — General and Major Special Revenue 25-26
Funds........................................................................................................... .
SUPPLEMENTARY INFORMATION
Combining Balance Sheet — Nonmajor Governmental Funds ........................... 27
Combining Statement of Revenues, Expenditures, and Changes in Fund
Balances — Nonmajor Governmental Funds ......................................... 28
CITY OF EAGLE
Table of Contents
PAGE (S)
OTHER REPORTS AND SCHEDULES
Independent Auditor's Report on Internal Control Over Financial Reporting and
on Compliance and Other Matters Based on an Audit of the Financial
Statements Performed in Accordance with Government Auditing Standards... 29-30
Schedule of Findings and Responses....................................................... 31
IF
FINANCIAL SECTION
Audits Quest CPAs, P.C.
Taxes
Special Services ��^Lr�Sa.,ariw�C�ari.t�Yn.a,l.r.r�
Independent Auditor's Report
Honorable Mayor and City Council
City of Eagle
Report on the Financial Statements
P.O. Box 100
Payette, Idaho 83661
www.gcpas.com
info@qcpas.com
P:208-642-1417
F:208-642-1582
We have audited the accompanying financial statements of the governmental activities, the
business -type activities, each major fund, and the aggregate remaining fund information of the
City of Eagle (the City) as of and for the year ended September 30, 2013, and the related notes to
the financial statements, which collectively comprise the City's basic financial statements as
listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America; this
includes 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 of 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 due to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity'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 entity'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.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities, the business -type activities, each
major fund, and the aggregate remaining fund information of the City as of September 30, 2013,
and the respective changes in financial position, and, where applicable, cash flows thereof for the
year then ended in accordance with accounting principles generally accepted in the United States
of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
budgetary comparison information listed as required supplementary information in the table of
contents be presented to supplement the basic financial statements. Such information, although
not required to be a part of the basic financial statements, is required by the Governmental
Accounting Standards Board who considers it to be an essential part of financial reporting for
placing the basic financial statements in an appropriate operational, economic, and historical
context. We have applied certain limited procedures to the required supplementary information
in accordance with auditing standards generally accepted in the United States of America, which
consisted of inquiries of management about the methods of preparing the information and
comparing the information for consistency with management's responses to our inquiries, the
basic financial statements, and other knowledge we obtained during our audit of the basic
financial statements. We do not express an opinion or provide any assurance on the information
because the limited procedures do not provide us with sufficient evidence to express an opinion
or provide any assurance.
Management has omitted the management's discussion and analysis information that accounting
principles generally accepted in the United States of America require to be presented to
supplement the basic financial statements. Such missing information, although not a part of the
basic financial statements, is required by the Governmental Accounting Standards Board, who
considers it to be an essential part of financial reporting for placing the basic financial statements
in an appropriate operational, economic, and historical context. Our opinion on the basic
financial statements is not affected by this missing information.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the City's basic financial statements. The accompanying combining fund
2
financial statements are presented for purposes of additional analysis and are not a required part
of the basic financial statements.
The combining fund financial statements are the responsibility of management and were derived
from and relate directly to the underlying accounting and other records used to prepare the basic
financial statements. Such information has been subjected to the auditing procedures applied in
the audit of the basic financial statements and certain additional procedures, including comparing
and reconciling such information directly to the underlying accounting and other records used to
prepare the basic financial statements or the basic 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 basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
December 31, 2013, 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, 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 the internal control over financial reporting or on compliance. That report
is an integral part of an audit performed in accordance with Government Auditing Standards in
considering the City's internal control over financial reporting and compliance.
(toast CPAs, P.C.
Payette, Idaho
December 31, 2013
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CITY OF EAGLE
Statement of Net Position
September 30, 2013
Assets
Current Assets
Cash
Receivables:
Taxes
Intergovernmental
Accounts
Total Current Assets
Noncurrent Assets
Restricted Cash
Nondepreciable Capital Assets
Depreciable Net Capital Assets
Total Noncurrent Assets
Total Assets
Liabilities
Current Liabilities
Accounts Payable & Accrued Expenses
Deposits Payable
Accrued Interest
Long -Term Debt & Obligations, Current
Total Current Liabilities
Noncurrent Liabilities
Long -Term Debt & Obligations, Noncurrent
Total Noncurrent Liabilities
Total Liabilities
Net Position
Net Investment in Capital Assets
Restricted - Special Programs
Restricted - Debt Service
Restricted - Capital Projects
Unrestricted
Total Net Position
Total Liabilities and Net Position
Governmental Business -Type
Activities Activities Total
$4,793,748
$701,199
$5,494,947
73,219
73,219
427,736
427,736
369,552
53,279
422,831
5,664,255
754,478
6,418,733
209,450
209,450
2,345,187
93,250
2,438,437
9,039,399
4,325,156
13,364,555
11,384,586
4,627,856
16,012,442
$17,048,841
$5,382,334
$22,431,175
$260,563
$40,768
$301,331
536,851
27,450
564,301
3,417
34,122
37,539
343,630
112,817
456,447
1,144,461
215,157
1,359,618
1,673,206
2,411,898
4,085,104
1,673,206
2,411,898
4,085,104
2,817,667
2,627,055
5,444,722
9,3 64,3 33
1,859,569
11,223,902
489,503
489,503
26,834
182,000
208,834
917,786
917,786
3,432,718
713,710
4,146,428
14,231,174
2,755,279
16,986,453
$17,048,841
$5,382,334
$22,431,175
See Accompanying Notes 4
Functions/Programs
Governmental Activities
Current Expenditures
General Government
Public Safety
Parks & Streets
Culture & Recreation
Debt Service - Interest
Capital Assets
Total Governmental Activities
Business -Type Activities
Water Services
Total Business -Type Activities
Total
CITY OF EAGLE
Statement of Activities
Year Ended September 30, 2013
Program Revenues
Operating Capital
Charges For Grants And Grants And Net (Expense)
Expenses Services Contributions Contributions Revenue
$2,195,449
$830,904
$86,573 $515,688 ($762,284)
1,549,182
586,314
(962,868)
670,439
253,739
(416,700)
912,492
345,348
(567,144)
49,021
18,553
(30,468)
852,914
322,800
(530,114)
6,229,497
2,357,657
86,573 515,688 (3,269,579)
807,472
807,472
$7,036,969
Changes in Net Position
Net (Expense) Revenue
General Revenues
Taxes
Franchise Fees
Intergovernmental
Interest
Miscellaneous
Transfers
Total
Change in Net Position
Net Position - Beginning - As Previously Stated
Restatement - See Note G
Net Position - Beginning - As Restated
Net Position - Ending
685,615
685,615
0
$3,043,272
$86,573
Governmental
Business -Type
Activities
Activities
($3,269,579)
($121,857)
2,186,255
621,671
1,548,201
17,918
1,806
78,345
15,408
4,452,390
17,214
1,182,811
(104,643)
12,858,523
2,859,922
189,840
13,048,363
2,859,922
$14,231,174
$2,755,279
0
$515,688
Total
($3,391,436)
2,186,255
621,671
1,548,201
19,724
93,753
0
4,469,604
1,078,168
15,718,445
189,840
15,908,285
$16,986,453
(121,857)
(121,857)
($3,391,436)
Component
Unit
189,840
(189,840)
0
$0
See Accompanying Notes 5
CITY OF EAGLE
Balance Sheet - Governmental Funds
September 30, 2013
Assets
Cash
Receivables:
Taxes
Intergovernmental
Accounts
Due From Other Funds
Total Assets
Liabilities
Accounts Payable & Accrued Expenses
Due To Other Funds
Deposits Payable
Total Liabilities
Deferred Inflows of Resources
Unavailable Tax & Fee Revenues
Total Deferred Inflows of Resources
Fund Balances
Restricted - Special Programs
Restricted - Debt Service
Restricted - Capital Projects
Unassigned
Total Fund Balances
Total Liabilities and Deferred Inflows
of Resources and Fund Balances
General
Fund
$3,371,815
38,538
427,736
336,477
$4,174,566
$222,110
536,851
758,961
34,894
34,894
35,367
3,345,344
3,380,711
$4,174,566
Library
Fund
$233,613
24,337
30,989
$288,939
$32,002
32,002
44,665
44,665
212,272
212,272
$288,939
Debt
Service
Fund
$25,995
7,522
Page 1 of 3
Park
Fund
$917,786
$33,517 $917,786
$0 $0
6,683
6,683 0
26,834
917,786
26,834 917,786
$33,517 $917,786
See Accompanying Notes 6
CITY OF EAGLE Page 2 of 3
Balance Sheet - Governmental Funds
September 30, 2013
Other
Total
Governmental
Governmental
Funds
Funds
Assets
Cash
$244,539
$4,793,748
Receivables:
Taxes
2,822
73,219
Intergovernmental
0
427,736
Accounts
2,086
369,552
Due From Other Funds
0
0
Total Assets
$249,447
$5,664,255
Liabilities
Accounts Payable & Accrued Expenses
$6,451
$260,563
Due To Other Funds
0
0
Deposits Payable
0
536,851
Total Liabilities
6,451
797,414
Deferred Inflows of Resources
0
0
Unavailable Tax & Fee Revenues
1,132
87,374
Total Deferred Inflows of Resources
1,132
87,374
Fund Balances
Restricted - Special Programs
241,864
489,503
Restricted - Debt Service
0
26,834
Restricted - Capital Projects
0
917,786
Unassigned
0
3,345,344
Total Fund Balances
241,864
4,779,467
Total Liabilities and Deferred Inflows
of Resources and Fund Balances
$249,447
$5,664,255
See Accompanying Notes 7
CITY OF EAGLE Page 3 of 3
Balance Sheet - Governmental Funds
September 30, 2013
Reconciliation of Total Governmental Fund Balances to Net
Position of Governmental Activities
Total Governmental Fund Balances $4,779,467
Amounts reported for governmental activities in the statement of net
position are different because:
Capital assets used in governmental activities are not financial
resources and therefore are not reported in the funds. 11,384,586
Certain receivables are not available to pay for current period
expenditures and therefore are deferred in the funds. 87,374
Certain liabilities, including accrued interest, are not due and
payable in the current period and therefore are not reported in the
funds. (2,020,253)
Net Position of Governmental Activities $14,231,174
See Accompanying Notes 9
CITY OF EAGLE Page 1 of 3
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
Year Ended September 30, 2013
Debt
General
Library
Service
Park
Fund
Fund
Fund
Fund
Revenues
Taxes
$1,007,645
$769,068
$222,892
Franchise Fees
621,671
Intergovernmental
1,533,132
15,069
Charges for Services
68,577
549
Licenses, Permits, & Fees
1,808,319
33,558
$376,022
Fines & Court Fees
70,632
Interest
5,284
515
198
1,630
Miscellaneous
599,547
2,314
Total Revenues
5,714,807
821,073
223,090
377,652
Expenditures
Current Expenditures
General Government
4,651,694
Public Safety
1,549,182
Parks & Streets
635,572
34,867
Culture & Recreation
70,031
842,461
Debt Service - Principal
175,000
Debt Service - Interest
49,750
Total Expenditures
6,906,479
842,461
224,750
34,867
Excess (Deficiency) of Revenues
Over Expenditures
(1,191,672)
(21,388)
(1,660)
342,785
Other Financing Sources (Uses)
Proceeds from Bond Issuance
1,118,788
Owner Contributions
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
1,118,788
0
0
0
Net Change in Fund Balances
(72,884)
(21,388)
(1,660)
342,785
Fund Balances - Beginning - As
Previously Stated
4,028,596
233,660
28,494
0
Restatement - See Note G
(575,001)
575,001
Fund Balances - Beginning - As Restated
3,453,595
233,660
28,494
575,001
Fund Balances - Ending
$3,380,711
$212,272
$26,834
$917,786
See Accompanying Notes 9
CITY OF EAGLE Page 2 of 3
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
Year Ended September 30, 2013
Other
Total
Governmental
Governmental
Funds
Funds
Revenues
Taxes
$199,726
$2,199,331
Franchise Fees
0
621,671
Intergovernmental
0
1,548,201
Charges for Services
0
69,126
Licenses, Permits, & Fees
0
2,217,899
Fines & Court Fees
0
70,632
Interest
0
7,627
Miscellaneous
0
601,861
Total Revenues
199,726
7,336,348
Expenditures
Current Expenditures
General Government
226,447
4,878,141
Public Safety
0
1,549,182
Parks & Streets
0
670,439
Culture & Recreation
0
912,492
Debt Service - Principal
0
175,000
Debt Service - Interest
0
49,750
Total Expenditures
226,447
8,235,004
Excess (Deficiency) of Revenues
Over Expenditures (26,721) (898,656)
Other Financing Sources (Uses)
Proceeds from Bond Issuance 0 1,118,788
Owner Contributions 85,973 85,973
Transfers In 0 0
Transfers Out 0 0
Total Other Financing Sources (Uses) 85,973 1,204,761
Net Change in Fund Balances 59,252 306,105
Fund Balances - Beginning - As
Previously Stated 0 4,290,750
Restatement - See Note G 182,612 182,612
Fund Balances - Beginning - As Restated 182,612 4,473,362
Fund Balances - Ending $241,864 $4,779,467
See Accompanying Notes to
CITY OF EAGLE Page 3 of 3
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Governmental Funds
Year Ended September 30, 2013
Reconciliation of the Statement of Revenues, Expenditures, and
Changes in Fund Balances - Governmental Funds to the
Statement of Activities
Net Change in Fund Balances - Total Governmental Funds $306,105
Amounts reported for governmental activities in the statement of
activities are different because:
Government 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 excess of capital outlays over (under) depreciation
expense in the current period. 1,845,571
Revenues in the statement of activities that do not provide current
financial resources are deferred in the funds. (20,304)
Repayment of debt principal is an expenditure in the
governmental funds, but the repayment reduces long-term debt in
the statement of net position. 185,291
In the statement of activities, interest is accrued on long-term
debt, but the expenditure is reported when due in the
governmental funds. 729
Proceeds of debt is a financing source in the governmental funds,
but it increases long-term debt in the statement of net position. (1,118,788)
In the statement of activities, compensated absences are accrued
when earned, but the expenditure is reported when due in the
governmental funds. (15,793)
Change in Net Position of Governmental Activities $1,182,811
See Accompanying Notes
CITY OF EAGLE
Statement of Net Position - Proprietary Fund
September 30, 2013
Assets
Current Assets
Cash
Receivables:
Accounts
Total Current Assets
Noncurrent Assets
Restricted Cash
Nondepreciable Capital Assets
Depreciable Net Capital Assets
Total Noncurrent Assets
Total Assets
Liabilities
Current Liabilities
Accounts Payable & Accrued Expenses
Deposits Payable
Accrued Interest
Long -Term Debt & Obligations, Current
Total Current Liabilities
Noncurrent Liabilities
Long -Term Debt & Obligations, Noncurrent
Total Noncurrent Liabilities
Total Liabilities
Net Position
Net Investment in Capital Assets
Restricted - Debt Service
Unrestricted
Total Net Position
Total Liabilities and Net Position
Water
Fund
$701,199
53,279
754,478
209,450
93,250
4,325,156
4,627,856
$5,382,334
$40,768
27,450
34,122
112,817
215,157
2,411,898
2,411,898
2,627,055
1,859,569
182,000
713,710
2,755,279
$5,382,334
See Accompanying Notes 12
CITY OF EAGLE
Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Fund
Year Ended September 30, 2013
Water
Fund
Operating Revenues
Charges for Services $551,129
Miscellaneous 10,953
Total Operating Revenues 562,082
Operating Expenses
Personnel 215,998
Operations & Maintenance 196,034
Depreciation 309,264
Total Operating Expenses 721,296
Operating Income (Loss) (159,214)
Nonoperating Revenues (Expenses)
Interest Income 1,806
Interest Expense (86,176)
STL, Hook -Up, & Reconnect Fees 134,486
Other Income (Expense) 4,455
Total Nonoperating Revenue (Expenses) 54,571
Income (Loss) Before Contributions & Transfers (104,643)
Transfers In
Transfers Out
Change in Net Position (104,643)
Net Position - Beginning 2,859,922
Net Position - Ending $2,755,279
See Accompanying Notes 13
CITY OF EAGLE
Statement of Cash Flows - Proprietary Fund
Year Ended September 30, 2013
Water
Fund
Cash Flows From Operations
Receipts from Customers
$566,417
Payments for Personnel
(215,998)
Payments for Goods & Services
(171,889)
Cash Provided (Used) By Operations
178,530
Cash Flows From Noncapital Financing
Receipts from Nonoperating Sources 138,941
Transfers to (From) Other Funds
Cash Provided (Used) By Noncapital Financing 138,941
Cash Flows From Capital & Related Financing
Purchase of Capital Assets
(94,121)
Interest Paid on Debt
(104,712)
Principal Paid on Debt
(77,124)
Increases (Decreases) in Other Long -Term Obligations
(2,873)
Cash Provided (Used) By Capital & Related Financing
(278,830)
Cash Flows From Investments
Interest Income 1,806
Cash Provided (Used) By Investments 1,806
Change in Cash 40,447
Cash - Beginning 870,202
Cash - Ending $910,649
Reconciliation of Operating Income (Loss) to Cash
Provided (Used) By Operations
Operating Income (Loss)
($159,214)
Adjustments to Reconcile Operating Income (Loss) to
Cash Provided (Used) by Operations:
Depreciation
309,264
Changes in Assets & Liabilities:
Receivables
(281)
Accounts Payable & Accrued Expenses
24,145
Deposits Payable
4,616
Cash Provided (Used) By Operations
$178,530
See Accompanying Notes 14
CITY OF EAGLE
Notes to Financial Statements
A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reporting Entitv — The City of Eagle (the City) provides basic municipal services and operates
under a mayor -council form of government. These financial statements are prepared in
accordance with generally accepted accounting principles (GAAP) as applied to cities. The
governmental accounting standards board (GASB) is responsible for establishing GAAP for state
and local governments through its pronouncements (statements and interpretations). The more
significant accounting policies established in GAAP and used by the City are discussed below.
As required by GAAP, these financial statements present the City and its two component units,
entities for which the City is considered to be financial accountable. A component unit is
included in the City's reporting entity if it is both fiscally dependent on the City (the primary
government) and there is the potential for the component unit to provide specific financial
benefits to, or impose specific financial burdens on the primary government. Because of the
closeness of their relationship with the primary government (the City), some component units are
blended as though they are part of the primary government and are reported as special revenue
funds. Blended component units include the Eagle Urban Renewal Agency (EURA) and Spring
Valley Community Infrastructure District No. 1 (SVCID). The City's mayor appoints and the
City council approves the EURA's board of commissioners and the EURA board has operational
responsibility for the EURA. The SVCID board of directors, comprised of three City council
members, is appointed by the City council. SVCID's operational responsibilities are performed
by the SVCID board and City staff. Separate financial statements for the EURA and SVCID are
issued and available from the City.
Basic Financial Statements - Government -Wide Statements — The City's basic financial
statements include both government -wide (reporting the City as a whole) and fund financial
statements (reporting the City's major funds). Both government -wide and fund financial
statements categorize primary activities as either governmental or business -type.
In the government -wide statement of net position, both the governmental and business -type
activities columns (a) are presented on a consolidated basis by column, (b) and are reported on a
full accrual, economic resource basis, which recognizes all long-term assets and receivables as
well as long-term debt and obligations.
The government -wide statement of activities reports both the gross and net cost of each of the
City's functions and business -type activities. The functions are also supported by general
government revenues as reported in the statement of activities. The statement of activities
reduces gross expenses (including depreciation when recorded) by related program revenues and
operating and capital grants. Program revenues must be directly associated with the function.
Internal activity between funds is eliminated in the government -wide statement of activities.
Operating grants include operating -specific and discretionary (either operating or capital) grants
while the capital grants column reports capital -specific grants.
The net costs (by function or business -type activity) are normally covered by general revenues.
15
CITY OF EAGLE
Notes to Financial Statements
The City's sole activity is providing basic municipal services, and substantially all expenses are
directly related to this activity. Accordingly, there is no allocation of indirect costs.
The government -wide focus is more on the sustainability of the City as an entity and the change
in the City's net position resulting from the current year's activities. Fiduciary funds, when
present, are not included in the government -wide statements.
Basic Financial Statements - Fund Financial Statements — The financial transactions of the
City are reported in individual funds in the fund financial statements. Each fund is accounted for
by providing a separate set of self -balancing accounts that comprises its assets, liabilities, fund
equity, revenues and expenditures/expenses.
The emphasis in fund financial statements is on the major funds. Nonmajor funds by category are
summarized into a single column. Generally accepted accounting principles set forth minimum
criteria (percentage of assets, liabilities, revenues, and expenditures/expenses of the funds) for
the determination of major funds.
The focus of governmental fund measurement (in the fund statements) is upon determination of
financial position and changes in financial position (sources, uses, and balances of financial
resources) rather than upon net income. The activities reported in governmental funds are
reported as governmental activities in the government -wide financial statements. Major
governmental funds of the City include:
General Fund — The general fund is the City's primary operating fund. It is used to account for
all financial resources except those required to be accounted for in another fund.
Special Revenue Funds — Special revenue funds are used to account for the proceeds of specific
revenue sources that are legally restricted to expenditures for specified purposes. Major special
revenue funds include the library fund, which accounts for the revenues earned and expenses
incurred in providing library services.
Debt Service Fund — The debt service fund is used to account for the accumulation of funds for
the periodic payment of principal and interest on long term debt.
Capital Projects Fund — Capital projects funds are used to account for the acquisition and
betterment of major capital assets. Major capital project funds include the park fund, used to
account for the maintenance and betterment of parks and related facilities.
The focus of proprietary fund measurement is upon determination of operating income, changes
in net position, financial position, and cash flows. The generally accepted accounting principles
applicable are those similar to businesses in the private sector. Enterprise funds are required to be
used to account for operations for which a fee is charged to external users for goods or services
and the activity is financed with debt that is solely secured by a pledge of the net revenues. The
activities reported in enterprise funds are reported as business -type activities in the government -
wide financial statements. Major enterprise funds of the City include:
16
CITY OF EAGLE
Notes to Financial Statements
Water Fund — The water fund accounts for the revenues earned and expenses incurred in
providing water services.
Basis of Accounting, — Basis of accounting refers to the point at which revenues or
expenditures/expenses are recognized in the accounts and reported in the financial statements. It
relates to the timing of the measurements made regardless of the measurement focus applied.
Both governmental and business -type activities in the government -wide financial statements and
proprietary and fiduciary fund financial statements are reported on the accrual basis of
accounting. Revenues are recognized when earned and expenses are recognized when incurred.
The governmental funds financial statements are presented on the modified accrual basis of
accounting. Under the modified accrual basis of accounting, revenues are recorded when
susceptible to accrual (when they become both measurable and available). "Measurable" means
the amount of the transaction can be determined and "available" means collectible within the
current period or within thirty days after year end. Expenditures are recorded when the related
fund liability is incurred. Exceptions to this general rule include principal and interest on long-
term debt which, if any, are recognized when due and payable.
The City may report deferred inflows of resources on its financial statements. For the fund
financial statements, deferred inflows of resources arise when assets (i.e. receivables) are
recorded before the related revenues are available (i.e. before both the "measurable" and
"available" criteria for revenue recognition in the current period are met). In subsequent periods,
when both revenue recognition criteria are met, the revenue is recognized.
Cash — The cash balances of the City's funds are pooled for investment purposes. The individual
funds' portions of the pooled cash are reported in each fund as cash. Interest earned on pooled
cash is allocated to the various funds in proportion to each fund's respective investment balance.
For purposes of the statement of cash flows, the City considers all investments (including
restricted cash) available for immediate withdrawal or with maturities of three months or less to
be cash and cash equivalents (referred to as cash).
Receivables — Receivables are reported net of any estimated uncollectible amounts.
Inventories — Material supplies on hand at year end are stated at cost using the first -in, first -out
method.
Capital Assets and Depreciation — Significant capital asset acquisitions with an original cost of
$5,000 or more are recorded at cost if purchased or fair value if contributed. Minor repairs and
maintenance are expensed as incurred. Depreciation over the estimated useful lives of all
depreciable assets is recorded using the straight line method. The City is classified as a Phase III
government under GASB 34 and as such, had the option of not capitalizing infrastructure assets
acquired prior to October 1, 2003. The City did not exercise this option.
17
CITY OF EAGLE
Notes to Financial Statements
Comnensated Absences and Post -Retirement Benefits — The City provides certain
compensated absences to its employees. The estimated amount of compensation for future
amounts is recorded as a liability in the accompanying financial statements. Government
accounting standards board statement 45 requires employers to accrue future estimated post -
retirement benefits on the employer's government -wide financial statements when such benefits
are deemed material to the employer. The future estimated post -retirement benefits are deemed
immaterial to the City, and accordingly, are not reflected on the government -wide financial
statements.
Net Position — Net position is assets plus deferred outflows of resources (when they exist) less
liabilities less deferred inflows of resources (when they exist). The net investment in capital
assets component of net position consists of capital assets, net of accumulated depreciation,
reduced by any outstanding debt that are attributable to the acquisition, improvement, or
construction of those assets and adjusted for any related deferred outflows or inflows of
resources (when they exist). Restricted net position consists of restricted assets reduced by
liabilities and deferred inflows of resources (when they exist) related to those assets. Restricted
assets are assets that are subject to constraints on their use by creditors, grantors, contributors,
legislation, and other parties.
Fund Balance Classifications — Restrictions of the fund balance indicate portions that are
legally or contractually segregated for a specific future use. Nonspendable portions of the fund
balance are those amounts that are not expected to be converted into cash. Committed portions
represent amounts that can only be used for specific purposes pursuant to formal action (i.e.
board approval) of the reporting entity's governing body. Assigned portions represent amounts
that are constrained by the government's intent to be used for a specific purpose. Remaining fund
balances are reported as unassigned. When expenditures are incurred that qualify for either
restricted or unrestricted resources, the City first utilizes restricted resources. When expenditures
are incurred that qualify for either committed or assigned or unassigned resources, the City first
utilizes committed resources then assigned resources before using unassigned resources.
Pronerty Taxes — The City is responsible for levying property taxes, but the taxes are collected
by the respective county. Taxes are levied by the second Monday in September for each calendar
year. Taxes are due in two installments — December 20th and June 20th. A lien is filed on real
property three years from the date of delinquency.
Owner Contributions — Initial operating expenditures of the Spring Valley Community
Infrastructure District No. 1 (SVCID), one of the City's component units, are paid through
property owner contributions.
ContinLyent Liabilities — Amounts received or receivable from grantor agencies are subject to
audit and adjustment by grantor agencies. Any disallowed claims, including amounts already
collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures
which may be disallowed by the grantor cannot be determined at this time although the City
expects such amounts, if any, to be immaterial.
18
CITY OF EAGLE
Notes to Financial Statements
Interfund Activitv — Interfund activity is reported either as loans, services provided,
reimbursements, or transfers. Loans are reported as interfund receivables and payables as
appropriate and are subject to elimination upon consolidation. Services provided, deemed to be
at market or near market rates, are treated as revenues and expenditures/expenses.
Reimbursements are when one fund incurs a cost, charges the appropriate benefiting fund, and
reduces its related cost as a reimbursement. All other interfund transactions are treated as
transfers.
Use of Estimates — The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires management to make
estimates and assumptions that affect certain reported amounts and disclosures. Accordingly,
actual results could differ from those estimates.
Concentrations of Credit Risk — The City maintains its cash at insured financial institutions.
Periodically, balances may exceed federally insured limits. Balances not covered by FDIC are
collateralized whenever possible.
Risk Manaeement — The City is exposed to various risks related to its operations. Insurance is
utilized to the extent practical to minimize these risks.
Subsequent Events — Subsequent events were evaluated through the date of the auditor's report,
which is the date the financial statements were available to be issued.
B. CASH
Cash consists of the following at year end:
Cash - Deposits
Total
$5,704,397
$5,704,397
Deposits — At year end, the carrying amounts of the City's deposits were $5,704,397 and the
bank balances were $5,891,298. Of the bank balances, $494,539 was insured and the balance
was collateralized.
Investments — State statutes authorize government entities to invest in certain bonds, notes,
accounts, investment pools, and other obligations of the state, U.S. Treasury, and U.S.
corporations pursuant to Idaho Code 67-1210 and 67-1210A. These statutes are designed to help
minimize the custodial risk that deposits may not be returned in the event of the failure of the
issuer or other counterparty, interest rate risk resulting from fair value losses arising from rising
interest rates, or credit risks that an issuer or other counterparty will not fulfill its obligations.
The City's investment policy complies with state statutes.
Restricted Cash — Restricted cash at year end is cash set aside because its use is limited by City
ordinance and by City council. In the water fund, the customer deposit account is used to report
resources received from users of the water system, to be returned to the customer when leaving
19
CITY OF EAGLE
Notes to Financial Statements
the system provided that all utility bills are paid current. Per loan covenant, the City is required
to restrict one year of debt service costs in its water fund. Management is not aware of any
violations of this covenant.
C. CAPITAL ASSETS
A summary of capital assets for the year is as follows
Beginning
Governmental Activities Balance
Nondepreciable Capital Assets
Land
Artwork/Collectibles
Construction in Progress
Total
Depreciable Capital Assets
Buildings
Improvements
Equipment
Subtotal
Accumulated Depreciation
Buildings
Improvements
Equipment
Subtotal
Total
Net Capital Assets
$1,701,708
132,917
16,582
1,851,207
3,100,736
6,967,047
3,739,493
13,807,276
925,091
2,514,167
2,680,210
6,119,468
7,687,808
$9,539,015
Increases Decreases
$493,980
$493,980
1,922,057
52,457
229,991
2,204,505
125,360
346,114
381,440
852,914
1,351,591
$1,845,571
Depreciation expense of $852,914 was charged to the capital assets program.
$0
Ending
Balance
$2,195,688
132,917
16,582
2,345,187
5,022,793
7,019,504
3,969,484
0 16,011,781
1,050,451
2,860,281
3,061,650
0 6,972,382
0 9,039,399
$0 $11,384,586
20
CITY OF EAGLE
Notes to Financial Statements
Beginning
Business -Type Activities Balance
Nondepreciable Capital Assets
Land $93,250
Construction in Progress 0
Total 93,250
Depreciable Capital Assets
Buildings
559,285
Water System
4,787,746
Equipment
470,378
Subtotal
5,817,409
Accumulated Depreciation
Buildings
60,594
Water System
1,005,141
Equipment
211,375
Subtotal
1,277,110
Total
4,540,299
Net Capital Assets $4,633,549
Ending
Increases Decreases Balance
$93,250
0
$0 $0 93,250
559,285
4,787,746
94,121
564,499
94,121
0 5,911,530
13,982
74,576
239,387
1,244,528
55,895
267,270
309,264
0 1,586,374
(215,143)
0 4,325,156
($215,143)
$0 $4,418,406
Depreciation expense of $309,264 was charged to the water services program.
D. OPERATING LEASE
The City leased its city hall facilities under an operating lease agreement until the facilities were
purchased by the City in August 2013. Lease payments for the year amounted to $143,543.
21
CITY OF EAGLE
Notes to Financial Statements
E. LONG-TERM DEBT AND OBLIGATIONS
Bonded Debt — At year end, the City's bonded debt was as follows:
Governmental Activities:
Outstanding
2013 - $985,000 - general obligation bonds for capital assets due in annual
principal installments and semiannual interest payments with interest at
2.00% - 5.00% through 2025/26, secured by future taxes, paid through the
debt service fund $985,000
2006 - $1,935,000 - general obligation bonds for capital assets due in
annual principal installments and semiannual interest payments with
interest at 4.00% - 5.00% through 2016/17, secured by future taxes, paid
through the debt service fund 820,000
Total $1,805,000
Maturities on the bonds — governmental activities — are estimated as follows:
Year Ended
Principal
Interest
9/30/14
$245,000
$88,269
9/30/15
260,000
74,600
9/30/16
275,000
62,200
9/30/17
285,000
49,100
9/30/18
70,000
34,850
9/30/19-23
385,000
129,250
9/30/24-26
285,000
29,000
Total
$1,805,000
$467,269
At a special election on May 21, 2013, the qualified electors of the Spring Valley Community
Infrastructure District No. 1 (SVCID), one of the City's component units, approved the issuance
of general obligation bonds of SVCID in an amount not to exceed $250,000,000 and revenue
bonds of SVCID in an amount not to exceed $75,000,000. These bonds did not fund during the
2012/13 year.
22
CITY OF EAGLE
Notes to Financial Statements
Business -Type Activities:
Water Revenue Loan - At year end, the City's water revenue loan was as follows:
Water revenue loan - DEQ, due in semiannual payments of $90,918 with
interest at 3.25% through 2031/32, secured by future user fees, paid
through the water fund $2,512,876
Total $2,512,876
Maturities on the water revenue loan - business -type activities - are estimated as follows:
Year Ended
Principal
Interest
9/30/14
$100,978
$80,858
9/30/15
104,286
77,550
9/30/16
107,502
74,334
9/30/17
111,225
70,611
9/30/18
114,869
66,967
9/30/19-23
633,152
276,028
9/30/24-28
743,884
165,296
9/30/29-32
596,980
39,446
Total
$2,512,876
$851,090
Changes in long-term debt and obligations are as follows:
Description
Governmental Act.
2013 G.O. Bonds
2006 G.O. Bonds
Bond Premium
Comp. Absences
Subtotal
Business -Type Act.
Water Revenue Loan
Comp. Absences
Subtotal
Total
Beginning
Ending
Due Within
Balance
Increases
Decreases
Balance
One Year
$0
$985,000
$985,000
$55,000
995,000
$175,000
820,000
190,000
0
133,788
10,291
123,497
10,291
72,546
15,793
88,339
88,339
1,067,546
$1,134,581
185,291
2,016,836
343,630
2,590,000
77,124
2,512,876
100,978
14,712
2,873
11,839
11,839
2,604,712
0
79,997
2,524,715
112,817
$3,672,258
1,134,581
$265,288
$4,541,551
$456,447
Interest and related costs during the year amounted to $49,021 and $86,176 and were charged to
the debt service - interest and water services programs, respectively.
23
CITY OF EAGLE
Notes to Financial Statements
F. RETIREMENT PLAN
Public Employee Retirement System of Idaho (PERSI) - The PERSI Base Plan, a cost sharing
multiple -employer public retirement system, was created by the Idaho State Legislature. It is a
defined benefit plan requiring that both the member and the employer contribute. The Plan
provides benefits based on members' years of service, age, and compensation. In addition,
benefits are provided for disability, death, and survivors of eligible members or beneficiaries.
The authority to establish and amend benefit provisions is established in Idaho Code. Designed
as a mandatory system for eligible state and school city employees, the legislation provided for
other political subdivisions to participate by contractual agreement with PERSI. After 5 years of
credited service, members become fully vested in retirement benefits earned to date. Members
are eligible for retirement benefits upon attainment of the ages specified for their employment
classification. For each month of credited service, the annual service retirement allowance is
2.0% (2.3% police/firefighter) of the average monthly salary for the highest consecutive 42
months.
PERSI issues publicly available standalone financial reports that include audited financial
statements and required supplementary information. These reports may be obtained from
PERSI's website www.persi.idaho.gov.
The actuarially determined contribution requirements of the City and its employees are
established and may be amended by the PERSI Board of Trustees. At September 30, 2013, the
required contribution rate as a percentage of covered payrolls for members was 6.79% for
general members and 8.36% for police/firefighter members. The employer rate as a percentage
of covered payroll was 11.32% for general members and 11.66% for police/firefighter members.
The City's employer contributions required and paid were $136,260, $132,889, and $130,444, for
the three years ended September 30, 2013, 2012, and 2011 respectively.
G. RESTATED NET POSITION AND FUND BALANCES
Newly issued government accounting standards board statement (GASB) 61 requires that certain
component units be blended with the primary government. Previous to this requirement, these
component units were required to be presented as discretely presented component units. To
implement GASB 61, net position, fund balances, and related disclosures have been restated to
blend one of the City's component units, the Eagle Urban Renewal Agency (EURA), with the
City (the primary government). In addition, a certain portion of the general fund balance
(previously reported as restricted for capital projects) has been reclassified into a separate capital
project fund.
24
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF EAGLE Page 1 of 2
Budgetary Comparison Schedule - General and Major Special Revenue Funds
Year Ended September 30, 2013
General Fund
Revenues
Taxes
Franchise Fees
Intergovernmental
Charges for Services
Licenses, Permits, & Fees
Fines & Court Fees
Interest
Miscellaneous
Total Revenues
Expenditures
Current Expenditures
General Government
Public Safety
Parks & Streets
Culture & Recreation
Debt Service - Principal
Debt Service - Interest
Total Expenditures
Excess (Deficiency) of Revenues
Over Expenditures
Other Financing Sources (Uses)
Proceeds from Bond Issuance
Owner Contributions
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - Beginning
Fund Balances - Ending
Final Budget
Budgeted Amounts
Variance
(GAAP Basis)
Actual
Positive
Original
Final
Amounts
(Negative)
$984,050
$984,050
$1,007,645
$23,595
588,200
588,200
621,671
33,471
1,447,599
1,447,599
1,533,132
85,533
650
650
68,577
67,927
579,069
579,069
1,808,319
1,229,250
81,100
81,100
70,632
(10,468)
4,000
4,000
5,284
1,284
525,597
525,597
599,547
73,950
4,210,265
4,210,265
5,714,807
1,504,542
4,071,788
4,294,435
4,651,694
(357,259)
1,549,182
1,549,182
1,549,182
0
773,908
773,908
635,572
138,336
94,095
94,095
70,031
24,064
0
0
0
0
0
0
0
0
6,488,973
6,711,620
6,906,479
(194,859)
(2,278,708)
(2,501,355)
(1,191,672)
1,309,683
0
0
1,118,788
1,118,788
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,118,788
1,118,788
(2,278,708)
(2,501,355)
(72,884)
2,428,471
2,278,708
2,501,355
3,453,595
952,240
$0
$0
$3,380,711
$3,380,711
*Total expenditures
(over) under appropriations are:
($194,859)
See Auditor's Report 25
CITY OF EAGLE Page 2 of 2
Budgetary Comparison Schedule - General and Major Special Revenue Funds
Year Ended September 30, 2013
Library Fund
Revenues
Taxes
Franchise Fees
Intergovernmental
Charges for Services
Licenses, Permits, & Fees
Fines & Court Fees
Interest
Miscellaneous
Total Revenues
Expenditures
Current Expenditures
General Government
Public Safety
Parks & Streets
Culture & Recreation
Debt Service - Principal
Debt Service - Interest
Total Expenditures
Excess (Deficiency) of Revenues
Over Expenditures
Other Financing Sources (Uses)
Proceeds from Bond Issuance
Owner Contributions
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - Beginning
Fund Balances - Ending
Final Budget
Budgeted Amounts
Variance
(GAAP Basis)
Actual
Positive
Original Final
Amounts
(Negative)
$749,482 $749,482
$769,068
$19,586
0 0
0
0
13,248 13,248
15,069
1,821
500 500
549
49
40,800 40,800
33,558
(7,242)
0 0
0
0
1,500 1,500
515
(985)
39,052 39,052
2,314
(36,738)
844,582 844,582
821,073
(23,509)
0
0
0
0
0
0
0
0
0
0
0
0
1,118,277
1,118,277
842,461
275,816
0
0
0
0
0
0
0
0
1,118,277
1,118,277
842,461
275,816
(273,695)
(273,695)
(21,388)
252,307
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(273,695)
(273,695)
(21,388)
252,307
273,695
273,695
233,660
(40,035)
$0
$0
$212,272
$212,272
*Total expenditures (over) under appropriations are: $275,816
See Auditor's Report 26
SUPPLEMENTARY INFORMATION
CITY OF EAGLE
Combining Balance Sheet - Nonmajor Governmental Funds
September 30, 2013
Assets
Cash
Receivables:
Taxes
Intergovernmental
Accounts
Due From Other Funds
Total Assets
Liabilities
Accounts Payable & Accrued Expenses
Due To Other Funds
Deposits Payable
Total Liabilities
Deferred Inflows of Resources
Unavailable Tax & Fee Revenues
Total Deferred Inflows of Resources
Fund Balances
Restricted - Special Programs
Restricted - Debt Service
Restricted - Capital Projects
Unassigned
Total Fund Balances
Total Liabilities and Deferred Inflows
of Resources and Fund Balances
Special Revenue Funds
Eagle Urban Spring Valley
Renewal Agency CID No. 1
$236,625 $7,914
2,822
2,086
$239,447
$10,000
$2,490
$3,961
2,490
3,961
1,132
1,132
0
235,825
6,039
235,825
6,039
$239,447
$10,000
Total
$244,539
2,822
0
2,086
0
$249,447
$6,451
0
0
$6,451
0
1,132
1,132
241,864
0
0
0
241,864
$249,447
See Auditor's Report 27
CITY OF EAGLE
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances - Nonmajor Governmental Funds
Year Ended September 30, 2013
Revenues
Taxes
Franchise Fees
Intergovernmental
Charges for Services
Licenses, Permits, & Fees
Fines & Court Fees
Interest
Miscellaneous
Total Revenues
Expenditures
Current Expenditures
General Government
Public Safety
Parks & Streets
Culture & Recreation
Debt Service - Principal
Debt Service - Interest
Total Expenditures
Excess (Deficiency) of Revenues
Over Expenditures
Other Financing Sources (Uses)
Proceeds from Bond Issuance
Owner Contributions
Transfers In
Transfers Out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances - Beginning - As
Previously Stated
Restatement - See Note G
Fund Balances - Beginning - As Restated
Fund Balances - Ending
Special Revenue Funds
Eagle Urban Spring Valley
Renewal Agency CID No.1
$199,726
199,726 $0
146,513 79,934
146,513 79,934
53,213 (79,934)
85,973
0 85,973
53,213 6,039
0
182,612
182,612 0
$235,825 $6,039
Total
$199,726
0
0
0
0
0
0
0
199,726
226,447
0
0
0
0
0
226,447
(26,721)
0
85,973
0
0
85,973
59,252
0
182,612
182,612
$241,864
See Auditor's Report 28
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S AND SC�DU-ES
P.O. Box 100
Payette, Idaho 83661
Quest CPAs, P.C. W�'gcpas.com
Audits info@gcpas.com
Taxes P:208-642-1417
Special Services ���.iwrr5_�aarbYa►�iariir:�6u�5����� F• 208-642-1582
Independent Auditor's Report on Internal Control Over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial Statements
Statements Performed in Accordance With Government Auditing Standards
Honorable Mayor and City Council
City of Eagle
We have audited, in accordance with the 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 governmental activities, the business -type activities, each major fund, and the
aggregate remaining fund information of the City of Eagle (the City), as of and for the year
ended September 30, 2013, and the related notes to the financial statements, which collectively
comprise the City's basic financial statements, and have issued our report thereon dated
December 31, 2013.
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.
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 combination of deficiencies, in internal control, such that there is a reasonable
possibility that a material misstatement of the entity'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.
Our consideration of internal control over financial reporting was for the limited purpose
described in the first paragraph of this section and was not designed to identify all deficiencies in
internal control that might be material weaknesses or significant deficiencies. Given these
limitations, during our audit we did not identify any deficiencies in internal control that we
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consider to be material weaknesses. However, material weaknesses may exist that have not been
identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City's financial statements are free
of material misstatement, we performed tests of its 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.
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 compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City's internal control over
financial reporting and compliance. Accordingly, this communication is not suitable for any
other purpose.
Quest 0PAs, P.O.
Payette, Idaho
December 31, 2013
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CITY OF EAGLE
Schedule of Findings and Responses
Year Ended September 30, 2013
A. SUMMARY OF AUDITOR'S RESULTS
The auditor's report expresses an unqualified opinion on the financial statements of the
City.
2. No significant deficiencies disclosed during the audit of the financial statements are
reported in the Independent Auditor's Report on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an Audit of the Financial
Statements Performed in Accordance with Government Auditing Standards.
3. No instances of noncompliance material to the financial statements of the City, which
would be required to be reported in accordance Government Auditing Standards, were
disclosed during the audit.
B. FINDINGS - FINANCIAL STATEMENT AUDIT
None.
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