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� CITY OF BANGOR, MAINE
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�Comprehensive Annual Financial Report ,r
For the Fiscal Year Ended June 30, 2000 -
, Prepared by:
Ronald Heller, Finance Director
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�
Debbie Cyr,Deputy Finance Director
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CITY OF BANGOR,MAINE �
• Comprehensive Annual Financial Report
Table of Contents �
, For the fiscal year ended June 30,2000
,
' INTRODUCTORY SECTION Pa�e '
� � Letter of Transmittal I- 1
Awards and Recognition , � I-24 -
Certificate of Achievement . I-26
" Organization Chart I-27
' Elected Officials and Principal Administrative Officers I-28
. . �'i;1:. xf..:.. . . ' . .
' FINANCIAL SECTION =f °
� � 4.� �
Report of Independent Auditors , � ` "
r �
< r �'
,
. . : . ;„ � ., . . ,
::� .-�:.. F..:.;�� •; .,
� � Combined Financial Statements.,O�erv�er�%: �' � € �c ":Exhibit
, . . ,
Combined Balance Sheet- All Fund Ty:pes and Account Groups 3 4 1 . II- I
(� Combined Staternent of Re�enues,Expenditu"res and C�anges m Fund - �
� � Equity--All Governmental Fund Types'and Expendable Trust Funds " f;' " `�2 ` „ '' . II-3
Statement of Reve�nues,E�penditures and Clianges�ri Vndesignated � ; -�
Fund Balance Budget.'and Actual Budgetary Basis �eneral Fund =, ��,� _ ��3 II-„4
� Combined Statement of Revenues,,Expenses and �hanges iri Retained ` .
, ;
Earnings/Fund Eqwty -A11 Fropr�etary Fund Types':and S�rn�lar � � �
..
� Trust Funds f '; :�" , � a 4 II-
5
� Combined Statemenr ofCash�Flows A�ll Propr�etary:�'und Types and S�milar '� `° `
Trust Funds �� g , � z ` `5 : II—6
• ' ..._t;: :.:� ��� ": � f . . .
� :.
S�.
. �: ... .�.. . . .':: . ." :: .::':
�.
, � Notes to General Purpose Financ�al Statements � II—8
l ✓`
£ � Sched`ule
General Fund: Fn � `
� ; �' ` , �;
Comparative Balance Sheet. ? <.- _� : �, < < ;; ; A 1 II-33
- Schedule of Revenues,Expenditures and Changes m IJnreserved/Undes�gnated€ �
Fund Balance--Budget"and Actual 'Budgetary Basis A`-2 II-34
;` � �
. ,, � � ' �
F<. _ .
Special Revenue Funds: � ' , " •
Combining Balance Sheet A�' � ' � � B— 1 II-38
' Combining Statement of Revenues,Expendifures and Changes"�ri Fund
Equity -fi' B—2 II—39.
Capital Projects Fund:
Comparative Balance Sheet C— 1 II-40
Statement of Revenues,Expenditures and Changes in Fund Equity C—2 II-41
• Enterprise Funds: ,
Combining Balance Sheet D.— 1 II-42
i Combining Statement of Revenues,Expenses and Changes in Retained
_ , Earnings D—2 II-44
� Combining Statement of Cash Flows �- , - D—3 II-45
, _
.
CITY OF BANGOR,MAINE
Table of Contents,Continued
,
Schedule Pa�e
Schedule of Revenues,Expenditures and Encumbrances Budget and Actual--
Budgetary Basis:
Sewer Utility Fund D—4 II-47 ,
Airport Fund D—5 II-48
Park Woods D—6 II-49
City Nursing Facility D—7 II-50 �
Parking Fund D—8 II-51 '
Bass Park Fund D—9 II- 52
Municipal Golf Course D— 10 II-53 ,
Economic Development Fund D- 11 II-54
Trust and Agency Funds:
Combining Balance Sheet E— 1 II-55 '�
Statement of Revenues,Expenditures and Changes in Fund Equity-- '
Expendable Trust Funds E—2 II-56
Combining Statement of Revenues,Expenses and Changes in Fund
Equity--Nonexpendable Trust Funds E—3 II-57
Combining Statement of Cash Flows--Nonexpendable Trust Funds E—4 II-58
Statement of Changes in Assets and Liabilities--Agency Funds E—5 II-59 .
1
General Fixed Assets Account Group:
Schedule of General Fixed Assets By Source F— 1 II-60 �
Schedule of General Fixed Assets By Function F—2 II-61 � •
Schedule of Changes in General Fixed Assets by Function F—3 II-62
Other Information:
Assessed Valuation,Commitment and Collections G— 1 II-63
Undesignated Fund Balance Sufficiency Calculation G—2 II-64
STATISTICAL SECTION
Tables
Statistical Tables:
General Governmental Revenues--Budgetary Basis,Last Ten Fiscal Years 1 III- 1
General Governmental Expenditures by Function--Budgetary Basis,
Last Ten Fiscal Years 2 III-2
General Governmental Expenditures/Other Uses and Revenues/Other
Sources--Budgetary Basis,Last Ten Years 3 III-3
Assessed and Estimated Market Value,Last Ten Fiscal Years 4 III-4
Property Tax Levies, Collections and Delinquencies,Last Ten Fiscal Years 5 III- 5
Property Tax Rate Components,Last Ten Fiscal Years 6 III-6
Principal Taxpayers,June 30,2000 7 III- 7 ,
Computation of Legal Debt Margin,June 30,2000 8 III- 8
Ratio of Net Bonded General Obligation Debt to Assessed Value and
Net Bonded General Obligation Debt Per Capita,Last Ten Fiscal Years 9 III-9
i
CITY OF BANGOR,MAINE
Table of Contents,Continued
Tables Page
Ratio of Annual Debt Service Expenditures for General Fund,General
. Obligation Bonded Debt to Total General Fund Expenditures,Last
Ten Fiscal Years 10 III- l0
Computation of Direct and Overlapping Debt,June 30,2000 11 III- 11
Direct and Overlapping Debt,Last Ten Fiscal Years 12 III- 12
Revenue Bond Coverage,Last Ten Fiscal Years l3 III- 13
Debt Service Requirements to Maturity--All Bonded Debt,June 30,2000 14 III- 14
Self Supporting and Tax Supported General Obligation Debt,June 30,20U0 15 III - 15
Defined Benefit Pension Plan--City and Employee Contributions,Last
Ten Fiscal Years .- . � 16 III - 16
Defined Benefit Pension P1an,Unfunded Liability Armortization 17 III- 17
Public School Enrollmenf,Last Ten School Years l 8 III- 18
Education Attainment-=Persons Age 18 and Over, Calendar 1998 19 " � III- 19
Employment Composition'Bangor Maine MSA,Last Ten Calendar Years 20 III-20
Employment Data,Last Ten Calendar Years 21 III-21
� Major Employers—$angor and Bangor MSA,Calendar 1999 22 ; III-22
Residential and Commercial Building Permits and Bank Deposits,Last
Ten Fiscal Years • • . � - 23 III-23
Ten Largest Current Construction Projects,June 30,2000 �4 III-24
Various Demographic Data, 1990 Census � 25 III-25
Taxable Retail Sales;Last�'en Calendar Years � 26 ; , III-26
Miscellaneous Data,June 30, 2000 � 27 , III-27
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i
Introductory Section
BCity of
an O� 207/945-4400
aine fax 207/945-4446
www.bgrme.org FINANCE DEPARTMENT
Ronald I.Heller,Finance Director
December 26, 2000
To the Honorable Chairman,
Members of the Bangor City Council, and
Citizens of Bangor:
Enclosed herewith are the City of Bangor's audited financial statements for the fiscal year ended
June 30, 2000. In our ongoing efforts to provide greater and more meaningful information to the
people of Bangor, yourselves, and other interested parties, we have assembled this, our fourth
consecutive Comprehensive Annual Financial Report, or CAFR,the core of which is formed by the
City's audited financial statements. As always, we intend that this document give the financial
statements more depth, aid in their interpretation, and help the reader identify the issues inherent in
the City's financial operations.
Responsibility for the accuracy,completeness and fairness of the data and its presentation rests solely
with the City of Bangor and, more specifically, with the City's Finance Director and Deputy
Director. That being said,to the best of our knowledge and belief,this data, its presentation and the
context in which it is presented is accurate in all material respects.
This CAFR is presented in three sections:
■ The Introductory Section,of which this letter of transmittal is a part, is intended as an
overview of the document as a whole. It principally consists of a narrative report on
the City's audited financial results for the fiscal year ended June 30,2000, and contains
other general information about the City.
■ The Financial Section is composed of the City's audited general purpose financial
statements, including all notes and schedules far the General Fund, the eight enterprise
funds, the various special revenue and fiduciary funds and the two major account
groups. This information has been prepared by City staff, and includes the
independent auditor's unqualified opinion.
■ The Statistical Section contains select financial, economic and demographic
information, presented variously on either sirigle or multi year bases.
T3 Harlow Street • Bangor, Maine 04401
City ojBangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
LOCATION AND BRIEF HISTORY -
The City of Bangor is situated in eastern Maine, in the south-central section of Penobscot County.
It is the County seat and the third most populous of Maine's 22 cities. The City is located
approximately 235 miles north-northeast of Boston; 140 miles northeast of Portland, the State's
largest city; and approximately 76 miles northeast of Augusta,the State Capital. Bangor is the hub
of an 11 municipality employment area,as well as the commercial and cultural center for eastern and ,
northern Maine; a region that contains more than a third of the State's population.
The City occupies approximately 35 square miles on the western shore of the Penobscot River,
which forms its southeastern border and separates it from the City of Brewer. The Town of Orono,
home of the principal campus of the University of Maine System, forms the City's northeastern
border. The Towns of Veazie,Glenburn, Hermon and Hampden form the City's eastern, northern,
western and southern borders,respectively.
Bangor was first settled in 1656, incorporated as a town on February 25, 1791 and as a city on
February 12, 1834. During the 1850's,Bangor was the world's leading lumber port and was second
in this category only to Chicago in the 1860's to 1870's. In the ensuing years, Bangor has become
a major trade, distribution, service and commercial center for the central, eastern and northern
portions of the State.
ORGANIZATIONAL STRUCTURE
The City's present charter dates to 1931,and has been amended several times,most recently by City
voters in November, 1995. The City operates under a Council-Manager form of government, with
a nine-member Council elected at-large to staggered three year terms,three of which lapse each year.
Councilors are limited by City Charter to two consecutive terms. The Council Chair is the City's
Mayor, and is elected annually by the Council from its ranks. The Mayor principally presides over
Council meetings, makes committee assignments, and acts as the City's spokesperson. The City
Manager is the City's Chief Operating Officer, and is appointed by the Council, as are the Assessor,
Solicitor and Clerk. The current City Manager has been in his position since 1988.
The City's schools are governed by a seven-member School Committee. Like the Council, its
members are elected at large to staggered three year terms. Unlike the City Council,there is no limit
to the number of consecutive terms a member may serve. The School Committee employs the
Superintendent of Schools as its Chief Operating Officer. The current Superintendent has been in
his position since July 2000. His predecessor retired at the end of fiscal 2000, having served in that
capacity since 1987.
I-2
City of Bangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
FINANCIAL INFORMATION
The Finance Director is the City's Chief Financial Officer and Treasurer. As such,he is responsible
for all financial functions, including managing and recording the City's financial transactions,
planning for the City's financial needs, prudently investing City funds, identifying and managing
financial risk,borrowing funds as authorized by Council action,and performing those tasks assigned
- by the City Manager pertaining to the City's affairs. The Deputy Finance Director is most directly
responsible for maintaining the City's accounts and records,producing the City's general purpose
financial statements and assisting the Finance Director in the performance of his duties.
' The Finance Department is primarily responsible for establishing and maintaining the necessary
internal control mechanisms and structures to assure that City assets are properly collected,
administered and expended. Under the direction of the Finance Director, the Department consists
of the following divisions:
■ Treasury is responsible for the collection, investment and custody of the City's
financial resources.
■ Audit is principally responsible for maintaining the City's financial records as they
pertain to its assets, liabilities,revenues and expenditures.
■ Tax Collection assures that all taxes due the City are collected.
■ Risk Management mitigates and insures against the inherent risks of conducting City
business. This function is expanded upon under the caption Risk Management,further
below.
' ■ Purchasing administers the City's procurement of goods and services, and manages
its fixed assets.
■ Information Services is primarily responsible for maintaining the City's computers
and related systems.
The Budgeting Process
The City's budgeting process is shuctured azound its fiscal year, which begins on July 1 st and ends
on the following June 30th. The City annually adopts budgets for its general fund and eight
enterprise funds through a carefully prescribed process, as described immediately below.
� The City Charter requires that the City Manager submit a recommended budget to the Council by
the second Monday in April. The budget, which must be in balance, contains estimates of(1) all
non-tax revenues and receipts expected to be received during the next fiscal year, (2) the
expenditures necessary to support City operations,(3)debt service requirements,and(4)the t�levy
required to achieve balance between revenues and expenditures.
I-3
City of Bangor,Maine
Comprehensive Annua!Financia[Report
For the Year Ended June 30,2000
Introductory Section
The Council may modify recommended expenditures and the recommended t� levy at its sole
discretion. If the Council fails to adopt a budget by July 1 st,the City Manager's proposed budget
automatically becomes that fiscal year's budget. In either case, an appropriate property tax levy is
established and filed with the City Assessor.
Internal Controls
The City employs a full array of internal budgetary controls to assure the proper receipt, custody and
disposition of its funds and other assets. These include the requirement of formal Council
authorization to accept and expend funds, segregation of duties with respect to disbursements, �
computer programs that require manual override if payments exceed budget, the use of purchase _�
requisitions, warrants, dual signature requirements, and the like.
Independent Audit
In addition to the internal controls briefly described above,the City Charter requires that an annual
audit be performed by an independent certified public accountant. The firm of Runyon Kersteen -
Ouellette was selected by the City Council to perform this audit, beginning with the fiscal 1997
statements. The firm's unqualified opinion as to the City's general purpose financial statements is
included in the Financial Section.
Additionally, the firm performed various tests and procedures to meet the requirements of the
Federal Single Audit Act of 1984 and related OMB Circular A-133. The independent auditor's
report pertaining to these requirements is received and maintained separately from the audited
general purpose financial statements,as are all collateral documents that may result from the annual �
audit. All such documents are available upon request.
Risk Management
Overall risk management responsibility falls to the Finance Department, which identifies and takes
those steps deemed reasonable to ameliorate the foreseeable risks inherent in the normal conduct of
City business. Accordingly, the City regulazly purchases commercial insurance for a variety of
identified risks. These include coverages under commercial general liability,auto,property damage,
crime and dishonesty and various other policies, each with limits and deductibles deemed prudent
and reasonable, given the nature of the risks, the cost of coverage and the City's ability to fund
various types and levels of losses.
In addition, the City self-insures its workers compensation program and also purchases excess
insurance to limit its financial risk to a m�imum of$500,000 per occurrence. Integral to the proper
administration of this program is an annual evaluation to assure the adequacy of funding to at least '
an 80%confidence level,although current funding is in excess of the 90%confidence level. For the
past nine years,the actuarial firm of Liscord, Ward and Roy has performed this evaluation.
I-4
City of Bangor,Maine
Comprehensive Annual Financial Repon
- For the Year Ended June 30,2000
Introductory Section
Finally,the City employs,on a full time basis, a risk management/safety manager. Prior to this the
City had engaged this individual's services on a contractual basis. His responsibilities continue to
include administering the City's insurance programs, identifying safety hazards, assisting City
personnel in remedying them, conducting safety training throughout all City departments, and a
1 variety of other related activities.
Cash Management
Investment authority resides with the Finance Director and Deputy Director, acting in accordance
with the City's investment policy. The policy defines the types of investments that may be made,
and specifically prohibits investments in so-called "derivative" instruments. It is City policy to
invest all available operating cash so as to first, preserve City assets; second, assure liquidity and
third,earn an optimal market rate of return within these parameters. The City's investment strategy
with respect to operating cash is based on the principle of matching maturities to cash flow needs,
and is constructed around three time horizons, as described below:
■ Medium term liabilities are due within a one to three year period and are funded by
securities maturing on or about the dates when such liabilities come due. Typically,
funds for this purpose are invested in essentially risk-free vehicles, such as treasury
bonds and notes, and the securities of select government agencies.
■ Shorter term cash requirements are met with appropriately short term maturities,
once again matched as to maturity. Securities Typically used for this purpose are
treasury bills,as well as treasury notes and bonds maturing on or near the dates when
cash will be required. Other short term investments include the obligations of
government and quasi-government agencies,both federally guaranteed and otherwise,
and occasionally"prime"commercial paper for cash needs within 270 days.
■ Finally, overnight investments are executed through a nightly"sweep"of the City's
operating accounts,designed to keep cash as fully invested as possible. Such funds are
invested through the City's depository bank in perfected overnight collateralized
repurchase agreements, and are insured for up to$2.0 million by The Travelers Group.
Investment decisions among fixed income asset classes are generally made on the basis of relative
value at the time the investment is made. Further,the City's portfolio is best characterized as neither
actively nor passively managed. Securities typically remain in portfolio until maturity,unless either
liquidated for cash flow reasons or called by the issuer.
FISCAL 2000 RESULTS
The accompanying general purpose financial statements detail the City's financial results for the
fiscal yeaz ended June 30,2000. As defined therein,and based upon accepted criteria,the financial
reporting entity to which these statements apply includes only the City,its departments and its funds.
I-5
City ojBangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000 `
Introductory Section
General Fund Status and Results
The General Fund is the City's principal operating fund. It provides for general government
functions including Assessing, the City Council,the City Clerk's office,Legal, Executive, Human ,
Resources, Finance, Planning, Economic Development, Public Safety, Health and Welfare,
Recreation, Public Buildings and Services, and Education.
The General Fund also provides funding for other organizations and governments, such as the
Bangor Public Library,the Bangor Convention and Visitor's Bureau,Penobscot County and several
private schools within the City. It accounts for well over two thirds of the City's total revenues and ,
expenditures,and substantially all its non-enterprise fund revenues and expenditures.
Balance Sheet•
The General Fund Balance Sheet (Exhibit 1) focuses on the City's liquidity, or those assets and
liabilities likely to convert to cash, and be paid within the next fiscal year, respectively.
At the end of fisca12000 ("FY00"), the General Fund had $20.3 million in assets. Not all of this, �
however, is expected to become available in fiscal 2001 ("FY01"). One such exception is $2.4
million of the $2.7 million in interfund loans, which are more properly considered long term in
nature. (As discussed below,the City has designated approximately $2.4 million of its fund balance
as a reserve against these amounts.) Additionally, a substantial but indeterminate portion of taxes
receivable will likely remain uncollected and be carried over to subsequent years. These amounts
are also more properly considered long term in nature.
Eliminating these uncertainties,cash and those amounts likely to become cash and thus available for
General Fund use during FY01 minimally approximates$15.0 million, representing a$2.8 million,
or 23.1%increase from the previous year,when$12.2 million was available. This is predominantly
attributable to an increase of$1.8 million in pooled cash and investments, a$916 thousand increase
in intergovernmental and non-tax receivables and a$99 thousand increase in prepaid items.
Liabilities consist of what the City is, at yeaz end, obligated to pay during the next fiscal year. At
fiscal year end,the General Fund showed$6.6 million in liabilities; essentially unchanged from the
previous year. This number,however, should be adjusted to reflect that the$2.3 million in"deferred
revenue"is merely an accounting offset to taxes receivable, and represents amounts owed to,not by
the City. (It should be noted that long term debt is not shown in the General Fund Balance Sheet.
These amounts are shown in the General Long Term Debt Account Group, and are discussed below
under the caption Long Term Debt.)
The amount by which current assets exceed current liabilities equals net current assets, or working
capital. Reflecting the adjustments noted above,at fiscal year end this approximated $10.8 million,
up 38.6% from FY99's $7.8 million. This is the net amount of the General Fund's expendable �
resources expected to be available for operating purposes in the coming year.
I-6
City of Bangor,Maine
ComprehensiveAnnual FinancialReport
For the Year Ended June 30,2000
Introductory Section
The General Fund fund balance represents residual assets, or the difference between all General
Fund assets and liabilities, and may be viewed as the accumulation of operating surpluses over the
years. It has three components:
■ Reserved balances are contractually obligated to be expended in subsequent years and
are thus unavailable for other purposes.
■ Designated balances are set aside by the Council for non-contractually obligated
expenditures in subsequent years. They may,at Council discretion, be made available
for other purposes.
■ Unreserved/undesignated balances are available, and may be appropriated by the
Council for any lawful purpose. It is City policy to target these balances at 7.5%of the
previous year's General Fund expenditures,net of debt service. At the end of FY00,
unreserved and undesignated balances had increased by $2.8 million,to $7.1 million,
thus representing 11.8% of General Fund expenditures. This change consists of two
components, as shown in Table A,below.
Table A
Components of Undesignated/Unreserved Fund Balance Changes
At June 30,2000
� (Dollars in Thousands) .
Beginning unreserved/undesignated fund balance $4,242.2
Add:
Excess of revenues and other sources over expenditures and other uses 2,322.2
Amounts appropriated from designated fund balances from reserves
against interfund loans to enterprise funds 515.0
Ending unreserved/undesignated fund balance $7,079.4
As discussed under the caption Subsequent Events, in accordance with established City policy,
portions of this excess fund balance have been appropriated for several high-priority City projects,
and have thus brought this amount closer to the tazget 7.5% level.
Revenues•
The General Fund is primarily supported by taxes, intergovernmental revenues and charges for
services. As shown in Schedule A-2,FY00 revenues were just under$65.5 million; an increase of
$3.5 million, or 5.6% from FY99. This difference is largely accounted for by:
� ■ A $1.8 million increase in total tax revenues composed of$1.5 million(4.6%) in real
and personal property tax collections and a$327 thousand(10.0%) increase in excise
tax revenues.
I-7
City ojBangor,Maine
ComprehensiveAnnual Financial Report
For the Year Ended June 30,2000
Introductory Section
■ An overall increase of$1.2 million in intergovernmental revenue comprised of a$478
thousand (15.5%) increase in state revenue sharing, and a $659 thousand (7.1%)
increase in the State school subsidy.
The proportion of locally generated revenues to the General Fund decreased for the third year in a
row,to 71.1% from 71.4%, continuing a favorable trend. General Fund revenues, their respective
percentages of total revenues,and both the amount and percentage change between fiscal 1999 and
2000 are shown in Table B, immediately below. -
Table B ,
General Fund Revenues by Source
FY99 and FY00
(Dollars in Thousands)
FY99 FY00 FY99/00 Chan�e
Revenue source Amount %Rev's Amount %Rev's Amount Percent
Taxes $35,238.7 56.9% $37,037.2 56.6% $1,798.5 5.1%
Intergovernmental 17,733.9 28.6 18,936.2 28.9 1,202.2 6.8
Charges for services 7,879.4 12.7 8,147.2 12.4 267.7 3.4
Other revenue 1,124.4 1.8 1346.0 2.1 221.6 19.7
Totals $61,976.5 100.0% $65,466.5 100.0% $3,490.0 5.6%
Results in the three most significant revenue categories were as follows:
■ Tax revenues represent the General Fund's principal source of revenue and consist
primarily of real,personal property and excise taxes. In FY00,$33.4 million,or 90.3% _
of tax revenues were derived from real and personal property taxes,an increase of$1.5
million over FY99. Property taxes and related revenue accounted for 51.1% of FY00
revenue, down from 51.6% in FY99.
While we believe that current collections of property tax revenues continued to
improve in FY00, problems associated with a computer conversion during the yeaz
seem to have pushed this rate to 97.0%;higher than one would otherwise expect. Also,
as shown in Table 5 in the Statistical Section of this CAFR, total collections in FY00
slipped to 99.13%. This, we believe, is due to more aggressive delinquent tax
collection practices over the previous two years,which effectively "cleaned out" about
$200,000 of these receivables.
■ Intergovernmental revenue is composed almost exclusively of State revenue sharing
and school subsidies. Overall, intergovernmental revenue increased $1.2 million, or
6.8% from FY99, due to $659 thousand in increased state support to educatiori and
$478 thousand in increased state revenue sharing. Increases in the former were
attributable to significantly higher state payments for special education, Title I, class
size grants and general purpose aid. The increase in state reven�e sharing was simply
fortuitous.
I-8
City of Bangor,Maine
Comprehensive Annual Financia!Report
For the Year Ended June 30,2000 _
Introductory Section
■ Charges for services consist of both municipal and school components. The former
increased by $795 thousand(17.0%) over FY991evels,while the latter declined $527
(16.4%). Increased municipal charges lazgely resulted from $447 thousand in higher
ambulance revenues and more moderate increases in several other areas. The decline
in school charges was primarily due to a non-recurring retroactive payment received
in FY99 approximating $400 thousand.
Expenditures•
As sho��vn in Schedule A-2,FY00 General Fund expenditures were $61.1 million; up $1.7 million,
or 2.8%from FY99. As always,the largest expenditure category was education, at $33.2 million;
an increase of$1.3 million,or 3.9%from FY99. The City's portion of FY00 expenditures was$28.0
million, up about $435 thousand, or 1.6% from FY99. It is worth noting that the City portion of
FY00's General Fund expenditures remains $134 thousand below its FY981eve1.
City expenditures were for public safety; public services; health, welfare and recreation; general
government services and other agencies and appropriations. General Fund expenditures, their
respective percentages of total expenditures, and both the dollar and percentage change between
fiscal 1999 and 2000 are shown in Table C, below.
Table C
General Fund Expenditures by Category
FY99 and FY00
(Dollars in Thousands)
FY99 FY00 FY98/99 Chanee
De�artment Amount % Exp's Amount % Exp's Amount Percent
Education $31,926.7 53.7% $33,181.4 543% $1,254.7 3.9%
Public safety 10,326.1 17.4 9,527.9 15.6 (798.2) (7.7)
Public services 7,321.7 12.3 7,073.7 11.6 (248.0) (3.4)
General government 3,371.2 5.7 3,481.5 5.7 1103 3.3
Health,welfare
and recreation 2,651.1 4.5 2,624.9 4.3 (26.2) (1.0)
Other agencies and
annro�riations 3.863.9 6_5 5.260.5 8_6 1.396.6 36.1
Totals $59,460.7 100.0% $61,149.9 100.0% $1,689.2 2.8%
Notable expenditure categories are as follows:
■ Public safety expenditures are composed of police and fire which,in total,declined by
$798 thousand, or 7.7% from FY99. This was entirely attributable to a change in the
way payments amortizing the General Fund's unfunded liability to the Maine State
Retirement System are reported. (In previous years,such payments had been subsumed
within each General Fund department. Such amounts are now consolidated and
reported, fund-wide, as Pensions and Other Fringe Benefits.)
I-9
City of Bangor,Maine
ComprehensiveAnnual Financial Report
For the Year Ended June 30,2000
Introductory Section
■ Public services consist of the engineering,highway, electrical, forestry, sanitation, recycling,
waterfront and cemetery divisions. The $248 thousand(3.4%) decrease in expenditures from
FY99 is also entirely attributable to the changed reporting described under Public Safety,
above.
■ Other agencies and appropriations include expenditures for County taxes, private school
subsidies,the Bangor Public Library,the Bangor Convention and Visitors Bureau,debt service
and pension expense. In aggregate,these increased by$1.4 million over FY99 due,once again,
entirely to the change in reporting referenced immediately above.
Enterprise Fund Results
The City operates eight enterprise funds,essentially as business entities. These funds (the financial
results of which are detailed in Schedules D-1 through D-11)include Bangor International Airport,
the Sewer Utility Fund,the City Nursing Facility,the Parking Fund, Bass Park, Bangor Municipal
Golf Course,the Park Woods housing complex and the Economic Development Fund.
Together,the eight funds generated$21.0 million in operating revenue, and operating profit,before
depreciation,of$5.2 million in FY00. The former is up slightly from$20.7 million;the latter down
from FY99's $5.9 million, largely on the airport's sluggish FY00 performance.
Bangor International Airport:
At$8.9 million,operating revenue at the airport decreased by $201 thousand, or 2.2%; this despite
an increase of$2.0 million in fuel sales. Declines in ground service revenues of$325 thousand,
combined with less dramatic decreases in other operating categories, eroded these mazket-driven
gains. Operating expenses of$7.7 million(before depreciation and amortization,hereinafter referred
to collectively as"depreciation")were $671 thousand, or 9.5%over FY991evels, and were largely
driven by a $331 thousand increase in purchased professional services, including significantly
increased advertising expenditures.
While operating cash flow declined significantly, it remained positive at $755 thousand. Net
income, after adding back depreciation on assets acquired with contributions (hereinafter referred
to as"depreciation add back")fell for the second year in a row,and became a loss of$194 thousand.
At fiscal year end,retained earnings stood at$33.8 million; cash and equivalents at$5.6 million.
Sewer Utility Fund:
Operating revenues were down .9%, to just under $6.3 million. Operating expenses before
depreciation also decreased by $102 thousand, or 4.0%,to $2.4 million,resuming a trend that had
been broken only once in the past several years. Net operating income remained steady at $2.4
million. Operating cash flow was$3.8 million,up$83 thousand,or 2.2%from FY99. Net income,
after depreciation add back, also held steady at $1:4 million. Retained earnings at fiscal year end
were $16.4 million, while cash and equivalents were $3.8 million.
I-10
City of Bangor,Maine
Comprebensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
This large amount of cash, derived mostly from interlocal agreements as to the construction costs
of the City's secondary wastewater treatment plant, acts to stabilize rates which might otherwise
increase due to the costs of capital projects required by a consent decree with the U.S.Environmental
Protection Agency("EPA"). Sewer rates have remained unchanged since mid-FY96 despite flat to
declining usage and increasing debt service requirements.
In essence,the Sewer Fund operates on a planned cash flow deficit basis,using its reserves to defray
a portion of its debt service expenses. Of no small benefit in preserving this cash is the current
agreement between the City and the EPA under which the latter matches capital expenditures
pursuant to the consent decree on a 55/45 basis,up to a maximum contribution of six million dollars.
This has slowed the increase in debt service requirements to which the utility had been subject,
allowing for the further conservation of cash. Nevertheless, current projections indicate that rates
may ultimately have to be raised in small increments to cover cash flow deficits projected to begin
in about 2005.
City Nursing Facilit�
One of the brighter spots this fiscal year were the better than anticipated results coming from this
fund. Operating revenue increased a strong$528 thousand, or 23.8%,to $2.7 million, due entirely
to occupancy rates that increased from less than 75%to more than 90%. It is believed that the City's
recently-renewed commitment to the facility (albeit under a new corporate management structure
described more fully under the Subsequent Events note in the "liftable" financial statements),
combined with more aggressive marketing and stronger operational management is responsible for
this improvement.
Operating expenses before depreciation increased$96 thousand(3.5%),to$2.8 million. As a result,
the net operating loss before depreciation improved from$519 thousand to $87 thousand. Operating
cash flow was a positive$135 thousand,also a major improvement over recent years' performances.
The facility's net income, after depreciation add back, was $426 thousand; due largely to the
unusually large General Fund subsidy of$623 thousand, improving retained earnings to a negative
$669 thousand. Ending cash and equivalents was minimal, at $54 thousand.
In addition to annually-appropriated General Fund operating subsic�ies,the nursing facility has, over
the years,received cumulative interfund loans(ie. cash flow support) from the General Fund in the
amount of$783 thousand. This amount, which represents a reduction of$647 thousand from last
year, has been fully reserved in the General Fund.
Parking Fund•
As it has since the construction of the Pickering Square garage, the Parking Fund incurred its
expected loss. Operating revenues decreased by 8.8%,to $638 thousand, largely on a$72 thousand
decrease in leased space revenue. This was due to the expiration of a one-time contract with Eastern
Maine Medical Center, under which the City provided parking for their employees during
construction of their new parking structure.
I-11
City oJBangor,Maine
ComprehensiveAnnual Financial Report
For the Year Ended June 30,2000
Introductory Section
Operating expenses before depreciation increased 5.6%,to $463 thousand, largely due to increased
capital outlay. As a result, the operating loss before depreciation expense deteriorated by $86
thousand. Similarly,net income after both the subsidy and depreciation add back deteriorated from
$105 thousand to $11 thousand. Retained earnings stood at $117 thousand, and ending cash and
equivalents were $250 thousand; down from last year's $253 thousand. The General Fund's $354
subsidy, primarily to meet debt service,represented a slight decrease from FY99's $357 thousand.
Bass Park:
The Bass Park complex generated $1.2 million in operating revenue in FY00, increasing $85
thousand (7.4%)over FY99. Operating expenses before depreciation increased by $187 thousand,
or 13.3%, to just under $1.6 million. Thus, on an operatirig basis (without depreciation), the
complex lost approximately $364 thousand (against a $262 thousand loss in FY99), and overall
showed a loss of$153 thousand after a General Fund subsidy of$389 thousand; this versus a net
loss, after a$349 thousand subsidy,of$63 thousand in FY99. Year end retained earnings declined
to a negative $1.4 million. Ending cash and equivalents were minimal at $15 thousand.
On an operating cash flow basis, the complex lost $389 thousand, or$100 thousand more than in
FY99. The General Fund was required to provide support in the amount of$519 thousand which
consisted of an operating subsidy of$389 thousand and a cash infusion of$130 thousand. This
represents a marginal deterioration from FY99, when a total of$515 thousand in General Fund
support was required. By fiscal year end, the complex had accumulated $1.6 million in cash flow
loans from the General Fund. As is the case with the City Nursing Facility, this amount has also
been fully reserved. Also like the City Nursing Facility,efforts continue to improve the complex's
financial performance.
Municipal Golf Course:
"Bangor Muni", as it is called, continues to operate at a surplus,on both a net income and cash flow
basis, although FY00 greens and cart fees were off$90 thousand (12.5%) at $632 thousand, and
operating expenses were$367 thousand,up 7.5%,or$25 thousand from FY99. Both weather factors
and construction at the course contributed to the revenue decline.
Operating income before depreciation was$265 thousand;down from$381 thousand in FY99. Net
income was $219 thousand, and operating cash flow was $234 thousand, down from last year's
results of$330 thousand and $421 thousand, respectively. Ending retained earnings were $1.7
million; cash and equivalents were $494 thousand.
Park Woods Complex:
The complex's net loss after the depreciation add back was just under one thousand dollars, after
giving effect to a$16 thousand operating subsidy from the General Fund. In FY99,net income(after
the add back) was $21 thousand, including a General Fund subsidy of$15 thousand. Operating
expenses before depreciation increased by$14 thousand,to$266 thousand. Net operating cash flow
deteriorated to a negative $18 thousand from a negative $5 thousand in FY99. Retained earnings
closed the year unchanged with a$59 thousand deficit; cash and equivalents were minimal at under
$2 thousand.
I-12
City of Bangor,Maine
Comprehensive Annua!Financial Report
For the Year Ended June 30,2000
Introductory Section
Economic Development Fund:
In FY00,the Economic Development Fund generated $269 thousand in operating revenue,up $38
thousand, or 16.6% over FY 99's results, on increased lease revenues. Operating expenses before
� depreciation were $124 thousand, up $60 thousand, or almost double FY99's expenses. Net
operating income before depreciation was $145 thousand, off 13.1%from FY99's $167 thousand.
Cash flow from operating activities was $133 thousand, down 16.9% from FY99's $160 thousand
on increased operating expenses.
The 95.2%jump in operating expenses was due to increased maintenance and general repair expense
incurred in selling 51 surplus military housing units that had been purchased from the Federal
government during FY99. The units were bought at an average cost of$25 thousand,and at the end
of FY00, about half had been sold at an average price approximating $65 thousand.
Net proceeds from the sale of these units added $548 thousand to revenue and, as a result, net
income was up $542 thousand. Retained earnings at year end was $1.1 million, up sharply from
FY99's $324 thousand; ending cash and equivalents was $578 thousand.
� LONG TERM DEBT
As shown in the section entitled Detailed Notes on All Funds and Account Groups, Note 1; at fiscal
year end the City had long term debt totaling$64.4 million; $59.9 million of which is of the full faith
and credit,general obligation variety. Of this, $32.2 million, or 53.7%is fully self-supporting. The
vast bulk of this is paid from user charges from the wastewater treatment plant. •
Most of the balance of this debt is for schools($10.9 million) and the General Fund($11.0 million).
Smaller amounts are attributable to those funds which require General Fund support and thus must
carry the City's full faith and credit pledge. These include the Parking Fund ($3.5 million), Bass
Park($1.6 million), and the City Nursing Facility ($714 thousand).
The City is also responsible for its proportionate share of the debt incurred by Penobscot County and
Maine Vocational Region Four. At year end, only the former had outstanding debt, the City's
portion of which was $443 thousand.
During FY00,the City issued$3.1 million in new general obligation debt($2.1 million attributable
to the General Fund), and retired $6.1 million ($982 thousand of which was General Fund debt).
General Fund,general obligation debt service payments due in FY01 aggregate to$1.5 million,$552
thousand of which represents interest. The City's general obligation debt has carried a Moody's
"Aa3" rating since February, 1999. �
I-13
City ojBangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
DEPARTMENTAL FOCUS:
THE FLEET MAINTENANCE DIVISION
The Fleet Maintenance Division owns substantially all the City's vehicles and heavy equipment
(hereinafter collectively referred to either as vehicles, equipment or capitan and provides a wide
variety of services to other departments. The Motor Pool, as it is known, owns some 138 vehicles
and 54 pieces of equipment, the overwhelming majority of which is used by Public Buildings and
Services, also known as Public Works. In addition, the Motor Pool also maintains vehicles and
equipment owned by other Departments, including the regionally-owned transit buses. A small
number of vehicles are owned and/or maintained by their respective departments. The largest of
these are the Fire Deparhnent and Bangor International Airport,although several other departments
own some specialty equipment as well.
The Motor Pool's major programs are preventive maintenance, repairs, reconditioning, parts
inventory,fluid disbursement and capital acquisitions. Its annual budget has ranged between$1.3
million and$1.5 million over the past ten years;an amount that includes equipment acquisition. The
Division is funded by charges to its various user departments,and is budgeted such that total charges
equal total expenditures.
The City also maintains a companion Pooled Equipment Reserve Fund,which has historically served
two purposes. First, it is a source of funding for the repair and replacement of damaged vehicles,
in accordance with the City's self-insurance program. Second, it represents an occasional
supplementary funding source for capital acquisitions. Accordingly,the City attempts to maintain
a minimum balance of$300 thousand to $350 thousand in this reserve, although it is generally felt
that adequate lies more in the range of$400 thousand to $450 thousand.
The reserve is funded from several sources. First, any of the division's operating surplus is credited
to it; typically less than $100 thousand annually. Second, proceeds from the sale of surplus
equipment flow into the reserve as well. This generally produces between $10 thousand and $25
thousand annually, and typically approximates less than five percent of the auctioned equipment's
original value, as these pieces have invariably been substantially used up. Finally, any interest
earned on the balance remains with the reserve.
Over the past ten years,the annual appropriation for capital acquisition has averaged$194 thousand,
implying a replacement cycle(i.e.,the time necessary to replace the entire fleet once)approximating
34 years;this without factoring in the effects of inflation. It is therefore not surprising that Bangor's
fleet is rather old,with some major pieces of equipment dating back to the mid-1960's. It is also not
surprising that there is a lot of vehicle downtime, which results in increased repair costs, staffing
disruptions and the need to hold extra, older vehicles in reserve for such times. Thus,there was a
clear need to develop a systematic approach to replacing this aging capital equipment.
I-14
City of Bangor,Maine
Comprehensive Annual Financia!Report
For the Year Ended June 30,2000
Introductory Section
Based on the required vehicle and equipment mix,present value acquisition costs of$6.6 million
and assumed inflation rate of 2.5%, staff estimated an optimal fleet-wide replacement schedule of
12 years, implying annual (uninflated) capital expenditures of$550,000. Given current funding
levels,this left an annual shortfall of some$356 thousand which, if funded through appropriations,
would have added approximately $.25 to the tax rate. Recognizing the implications of increasing
the tax rate so significantly for this one purpose, staff developed a replacement funding plan that
increased appropriations more gradually, and combined this with annual bond issues.
Briefly,the plan is as follows:
■ Each year,approximately one twelfth of the fleet will be identified for replacement,
based on a decision model incorporating age,cost of repair and cost of replacement.
■ Purchase costs are to be funded by annual bond issues,the size of which will need
to increase over time in step with inflation, currently assumed at 2.5%.
■ At the same time, annual appropriations will be made as in the past, with two
exceptions to past practice. First, appropriations will increase by 10% annually.
Second, appropriations will be split into two streams; one to service increasing
motor pool indebtedness, the balance to be appropriated to the motor pool reserve.
The plan builds the reserve to just over$1.4 million by FY07, at which time it begins to decline as
increasing debt service begins to consume more than the sutn of the annual appropriation and interest
earnings, and is consequently funded to an increasing extent from the reserve.
Ultimately, the plan reaches a"steady state"in which annual expenditures increase with inflation
alone. At this point, annual appropriation increases approximate the rate of inflation as-well,
allowing for a finer tuning of reserves. Thus,the City anticipates achieving significant savings as
downtime is decreased,productivity is enhanced and maintenance staff if reduced through attrition.
ECONOMIC BASE,CONDITION AND OUTLOOK
Bangor is a commercial, industrial and residential community that serves as a hub for a large
geographic region. The City's land area includes tracts of forest and farm lands, open space and
riverfront areas,and a developed downtown business district. Large portions of the City are as yet
undeveloped, and can accommodate significant future growth.
The City today reflects both its Native American and logging heritage along the banks of the
Penobscot River and its tributaries. Lazgely as a result of its location, Bangor has been a regional
• center and gateway to eastern,central and northern Maine since its earliest settlements. For nearly
400 years,Bangor has been the destination and home of explorers,trail blazers, and fortune seekers.
First settled as a frontier outpost, the vast richness of the region's forests attracted investors,
entrepreneurs,and laborers to Bangor in the early 1800's. By 1870, Bangor was the lumber capital
of the world, with a billion board feet shipped from its docks annually.
. I-15
City of Bangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
Today, Bangor thrives with innovative businesses that have achieved regional, national and
international success. The City is the economic, educational,recreational, distribution, and health
care center for the central,eastern and northern Maine regions. Bangor also serves as northern New
England's economic link to the Canadian Maritimes and Eastern Quebec, and is a major center for
the communication,banking, commercial, industrial, and governmental sectors in the State.
The City is committed to preserving its economic base while creating new opportunities for future
economic growth. To achieve these objectives,the City is proactive in supporting economic activity
through planned capital improvements, innovative financing, and aggressive marketing.
Infrastructure and Supnort Services
Bangor's extensive array of support services and infrastructure help greatly in maintaining existing
businesses and broadening economic growth opportunities. Bangor enjoys excellent access to New
England and U.S. mazkets via the Interstate Highway System, and a network of State highways.
Transportation alternatives are numerous and competitive, with two railroads and thirty-four major
trucking companies providing overnight service from Bangor to points along the Eastern Seaboard.
Bangor International Airport(BIA)connects the community to both U.S. and foreign markets. BIA
provides international overnight shipping services via the U.S. Postal Service's Express Mail,
Federal Express,Airborne Express,and United Parcel Service. The airport has long been nationally
recognized as a successful military base conversion, and now represents approximately 10%of the
region's total economic activity. Almost pazenthetically,BIA has the second longest civilian runway
on the East Coast, and is an alternative landing site for NASA's Space Shuttle missions.
Bangor is served by a full and technologically advanced complement of utilities that supports the
economic base of both the City and the region. Bangor is one of the two major telecommunication
hubs that Bell Atlantic, now Verizon, has established in Maine. Accordingly, the City is the
connecting point for much of the more than 75,000 miles of fiber optic cable currently in place.
Further,Mid Maine Communications has extended its fiber optic network from Bangor both south
to Portland and into northern Maine,and is servicing much of the City,including its commercial and
industrial pazks. These facilities provide the necessary infrastructure to address the unique demands
of the community and future enterprises.
With four hospitals,Bangor is a regional center for health care services. Four commercial and one
public television station, 12 radio stations and New England's fourth largest daily newspaper make
Bangor the media hub for the northern and eastern part of the State. The Bangor region is also
central Maine's center for higher education and reseazch. The University of Maine System's flagship
campus is located in Orono, eight miles to the northeast, and the City proper is home to five other
institutions of higher learning;Husson College,University College of Bangor,Beal College,Eastern
Maine Technical College, and the Bangor Theological Seminary. Over fifteen thousand students
attend these institutions.
I-16
City of Bangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
Current Economic Conditions
Bangor has a stable and diverse economic base. Major employers include a diversified mix of health
care, educational,professional,retail,manufacturing, and governmental entities. In calendar 1999,
the Bangor region had a workforce of 55,450;up 3.7%over 1998. The largest employment sectors
were services(up 9.4%,to 17,980 employees),wholesale and retail trade (essentially flat at 14,000),
and govemment(down 3.5%,at 11,360). City residents accounted for 17,916 employees in the 1999
regional labor force. Bangor's 1999 unemployment rate of 3.0%was substantially improved over
the 1998 rate of 3.6%, indicating continued strong employment opportunities for Bangor's residents.
Another indicator of economic vitaliiy is building permit activity. In calendar 1999, the City issued
a total of 489 building permits with an indicated value of$32.0 million;off 22.1%from 1998's torrid
pace, and more in line with the growth levels of recent years. Of note, however, is the more than
doubling in residential permit value from 1998 on slightly reduced volume.
Bangor is the second largest retail market in Maine,after Portland. �'aken together,the Bangor Mall,
Airport Mall,Broadway commercial center,Union Street commercial center, and the Bangor Center
Development District have long established Bangor as the regional hub of the eight-county eastern
Maine retail market. Bangor's retail_sector serves an extensive geographic area with a population
exceeding 3.1 million in eastern Maine and the Canadian Maritimes. Bangor's 1999 taacable retail
sales were $992 million, representing a 13.0% increase from the p�ior year.
Indeed, with less than three percent of the State's population, Bangor's share of the State's retail
sales has been in excess of 7% since 1988. Over the same period, Bangor's share of County sales
has grown significantly, to just under 60%.
Recent New Development
Over the past year, additional facilities were added to Bangor's health care and public housing base.
The largest of these were $8.8 million in ongoing projects at Eastern Maine Medical Center,
consisting largely of a professional office building as well as a vaziety of other facilities at its main
campus on State Street. Several multi-family developments served both to broaden the City's stock
of quality,affordable housing and help rejuvenate the downtown. A�so,there was significant activity
at the Oak Ridge Business Park,where a variety of both for-profit and not-for-profit projects have
come to fruition. ,
Airport development continued, with expansions to accommodate both increased general aviation
tr�c demands,and the recently consummated partnership between Telford Aviation and The Ages
Group,a division of Volvo Aero. This arrangement is expected to generate significant new activity
at BIA, as Ages transfers $50 million of spare aircraft parts inventory to Telford, an aircraft
installation, testing, repair and maintenance firm which established its operations in Bangor eight
years ago. Telford will act as a distributor for Ages, which will result in much higher levels of
aircraft repair at BIA, providing an additiona135 highly skilled jobs.
I-17
City of Bangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
Telford has also recently relocated its corporate headquarters to BIA, adding an additional 20 jobs
to the City's employment base. BIA has built a 15,000 square foot addition to existing buildings
now being leased to Telford to accommodate this increased activity.
ONGOING INITIATIVES
The Ciiy has both long and short term projects and initiatives. Many of the projects identified in the
City's previous CAFR's continue. As these are either completed or become more routinized, new
priorities aze identified and pursued. All else equal,however,there aze really two principal priorities
for the City: redevelopment of the downtown business district and waterfront.
Downtown Redevelopment
Perhaps the most significant accomplishment in the past year is the continuing enhancement of the
economic vitality of the downtown area. In recent years the City has been plagued with a number
of large vacant buildings in its downtown. As the retail sector shifted to the City's growing new
retail azeas(primarily the Bangor Mall area where over 3 million square feet of new retail space has
been developed over the past 20 years)the challenge has been to find new uses for these buildings.
Realizing the symbolic importance of a vibrant downtown,over the past three years significant staff
and financial resources have been devoted to imparting new vitality to this important part of the City.
The effort is proving worthwhile.
Renovation and reuse of the 140,000 square foot former Freese's department store building,with its
dominant presence as a Main Street anchor,was substantially completed in 2000. The building now
provides 75 units of new housing in the downtown area and will shortly house the Eastern Maine
Childrens Museum,which is expected to draw substantial new visitors downtown. At the other end
of the district,Normubega Hall, former site of the downtown Sears Roebuck,will soon be the home
of the University of Maine's Art Museum; providing a second anchor and further impetus to
development.
In the intervening space, Cadillac Mountain Sports has established itself as a retail presence in the
44,000 square foot former W.T. Grants building, and Bangor Savings Bank's recent renovation of
its flagship office has materially improved the downtown's appearance.
,
Across the street from the Penobscot County Courthouse, renovation of the 33,000 square foot
former Bangor Furniture complex is nearing completion. These four adjacent buildings now house
a mixture of retail, restaurant, residential and office uses. The restaurant and retail areas are now
fully occupied, and have materially added to the ambience and attractiveness of the downtown as
well.
I-18
City of Bangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
The City assisted in the Bangor Furniture project by providing t�increment financing and a loan
for the residential component through its Federal Community Development Block Grant Program.
The City also expanded a nearby parking lot,providing additional parking for tenants. This project
complements the rehabilitation of two adjacent historic mixed-use properties,successfully completed
and occupied over the last three years, and has shown signs of spurring further contiguous
development.
As a further example of the new activity downtown, Anthem Blue Cross and Blue Shield recently
established a call center and walk in office in One Merchants Plaza. It has since continued to expand
at that location,providing over 100 new jobs in the center of downtown.
Both complementing and adding to the cultural ambience of the proposed children's museum, art
museum, and recent $8 million expansion of Bangor's Public Library, several local artists have
established studios in vacant, older former office space. This cultural thrust, along with the addition
of new residential living opportunities,continues to inject new life into the downtown and riverfront
areas.
Waterfront Redevelopment
The City continues to make progress in redeveloping almost a mile of prime Penobscot River
frontage,extending from the City's downtown area to the Bass Park Complex. Remediation of the
36-acre site,performed in cooperation with the Maine Department of Environmental Protection, is
now complete, and infrastructure development has begun in earnest. Current plans call for some
$180 million in development that would include:
■ A five story, 180 room headquarters hotel anchoring the center of the site with an
adjacent 30,000 square foot high-technology conference center;
■ Up to three 100,000 square foot office buildings;
■ 60,000 square feet of restaurant and retail space;
■ ,A 36,000 square foot Maine products pavilion;
■ Four buildings containing 310 residential apartment and condominium units;
■ A Phase II, 175 room hotel adjacent to I-395;
■ A 30,000 square foot marina building serving the residential units and hotels;
■ A 36,000 square foot hazbor master pavilion serving not only as a working harbor
master's office, but also as a visitor center with retail, food and beverage and
historical components;
■ A 36,000 square foot transportation center; and
I-19
City of Bangor,Maine
Comprehensive Annual Financia!Report
For the Year Ended June 30,2000
Introductory Section
■ A Greek style,banked amphitheater of 60,000 square feet, including stage area and
seating for up to 1,500. The amphitheater,to be funded with a$3 million donation
from a local businessman, will serve as home to the increasingly popular summer
Shakespeare festival and other outdoor events.
Additionally,a five thousand lineaz foot river&ont park will be developed along the river's edge with
pedestrian walkways, bike paths, and various other recreational amenities such as jogging and
skating paths,boardwalks,picnic areas, an ice skating rink, carousel, playgrounds,mazes, and the
like. Additionally, the City plans 750,000 square feet of grass and landscaped areas, including
berming, trees, shrubs, flower beds and hedges. Almost $12 million in funding commitments to
assist in creating this infrastructure has been secured through several federal and state programs.
Finally,the City is in the process of retaining a master developer for the project, and is entertaining
proposals submitted by two independent developers.
Additionally, the City continues to move on several other fronts. Some of the more significant
initiatives currently underway include the following:
■ Broadening the revenue base: One of the persistent financial weaknesses of Maine
municipalities is their reliance on the property tax as the primary source of revenue.
This is not merely a matter of revenue diversification, but more importantly of
providing the financial wherewithal to undertake longer term,economic development
projects. The City has developed and is implementing a strategy to lobby the State
legislature for, among other things, the authority to levy a wider array of taxes that
will allow it and other Maine cities more financial flexibility.
One initiative of note are the ongoing efForts of a coalition of the State's larger cities
and towns,in which Bangor plays a principal role,to structure a permanent funding
source for the development and maintenance of ineeting and conference facilities to
capitalize on existing market opportunities. This initiative has thus far produced an
independent market assessment of the State, and legislation has been introduced to
provide implementation funding.
■ Infrastructure and service improvements: Bangor continues to build upon its
strengths, investing heavily in infrastructure, both to enhance the community's
quality of life, and to support economic growth. The City continues to be acutely
attentive to the condition of its streets, sidewalks, public transportation, waste
disposal and other systems so as to maintain Bangor's livability and attractiveness
to firms and individuals seeking to locate here. By their nature, these are ongoing
proj ects. �
With further respect to the City's quality of life, Bangor offers the lowest cost of
living of any metropolitan area in New England, one of the lower crime rates of any
metropolitan area in the country, abundant green space and outdoor recreational
opportunities, longstanding support for the arts, and an exceptional public school
system that is consistently ranked among the best in the State.
I-20
City of Bangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
Bangor has also been named the best small city in the country in two recent
MacMillan's Places Rated Almanac. Further,the City was recently ranked the best
of 17 metropolitan areas with populations under 100,000 in overall livability,and has
been favorably compared to 350 other North American metropolitan areas,
particularly with respect to its low crime rate and superb recreational opportunities.
■ Neighborhood preservation and improvement: The City has consistently pursued
policies designed to preserve and improve its neighborhoods. These efforts began
in the 1960's under the Urban Renewal program, when the City undertook a
systematic effort to identify and improve neighborhoods under stress. These efforts
have continued through such mechanisms as a residential rehabilitation program,
funded through the Community Development Block Grant Program, as well as a
variety of local initiatives,as contained in the City's Comprehensive Plan which was
adopted in the early 1990's and revised this.year.
A major component of this initiative is the ongoing review of City neighborhoods to
determine their present conditions and evaluate what, if any, intervention strategies
aze appropriate to protect and preserve them. Specific areas of the City have been
targeted for a detailed review as to structure, condition and public infrastructure.
On the basis of these evaluations,the City continues to develop strategies to address
those neighborhoods under the greatest stress. These range from enhanced code
enforcement efforts, through infrastructure improvements, to targeted residential
rehabilitation; all geared toward stabilizing and improving those areas found to be
deteriorating on either a physical or socioeconomic basis.
■ Transportation: Bangor's central location within the State has always been one of
its strengths. Accordingly,transportation is a key ingredient in the City's economic
fortunes. As a result of rapid growth in the mall area, the State is building a new
interchange at Stillwater Avenue to accommodate ever-increasing traffic volumes.
Additionally, there aze currently two State initiatives that will vastly improve and
more closely integrate Bangor's transportation facilities. When brought to fruition,
Bangor will become a hub through which both passenger and freight traffic will
eventually flow into and out of the central and northern porflions of the State, as well
as between the surrounding Canadian provinces and on into the Midwestern states.
The State's long range Strategic Passenger Plan as well as its Strategic Freight Plan
both identify Bangor as a key point of entry,departure and transhipment, largely due
to the presence of well-developed air, ground and rail transportation systems in and
around the City. As part of these companion plans,the State has recently allocated
approximately one million dollars,the major portion of which is being used to study
the development of intermodal facilities for moving passengers between BIA and
Mount Desert Island,the site of Bar Harbor.
I-21
City of Bangor,Maine
Comprehensive Annua!Financial Report
For the Year Ended June 30,2000
Introductory Section
Finally, there is an ongoing effort to find ways to improve the major east-west
roadway across the State. Bangor would stand to benefit from any improvements in
this artery, as it sits astride the existing east-west route that represents the shortest
distance between Canada's easternmost provinces and the cities of Quebec and
Montreal. It is thus ideally situated and equipped to act as a transhipment point for
such commerce.
■ Economic development strategy: Economic development activities remain vital
to the City. In addition to its many other efforts in the regard,the City continues to
work toward pulling the often disparate efforts of various groups and individuals into
one cohesive whole, and enhancing their effectiveness. This remains a longer term
effort, requiring careful coordination and planning, and is proceeding apace.
■ Intra-city communications: The City has completed the core installation of a new
communication system that ties councilors and staff more closely together and
streamlines many aspects of managing the City's affairs,thus moving the City in a
less paper-intensive direction. Additionally,the City's website has been inaugurated,
and City Council meetings are now televised on public access television, facilitating
wider dissemination of information,and making government and its procedures more
widely and easily accessible.
CONCLUSION
Overall the City of Bangor's financial position remains sound. Our tax collection rate is strong and
continues to improve, our control of expenses is excellent and our procedures and processes for
managing City assets work well. Further, we are both liquid and prudently invested, and we have
adequate insurance and reserves to meet any reasonably foreseeable events.
As always, it is our sincerest hope that this document meets the information needs of its primary
intended audience;the people of Bangor and their elected City Council. Its intent, as mentioned at
the outset,is to give the City's financial statements more depth, aid in their interpretation, and help
the reader identify the issues inherent in the City's financial operations. In addition, it is intended
to provide a means by which interested parties can more fully assess the City's financial well being.
We hope that this has indeed been accomplished. .
This document has also been prepared in accordance with the standards set by the Government
Finance Officers Association of the United States and Canada(GFOA)with the intent of submitting
it for consideration under their Certifrcate of Achievement for Excellence in Financial Reporting
program. GFOA awarded its Certificate of Achievement to the City of Bangor for its first three
Comprehensive Annual Financial Reports,which were produced for the fiscal years ended June 30,
1997 through 1999.
I-22
City of Bangor,Maine
Comprehensive Annual Financial Report
For the Year Ended June 30,2000
Introductory Section
The Certificate is a prestigious national award recognizing conformance with the highest standards
of state and local government financial reporting. In order to be awarded a Certificate,a government
must publish an easily readable and efficiently organized comprehensive annual financial report,the
contents of which conform to program standards. The CAFR must satisfy both generally accepted
accounting principles and applicable legal requirements. A Certificate of Achievement is valid for
a period of one year only. We believe this CAFR continues to conform to the Certificate of
Achievement program's exacting standards.
ACKNOWLEDGMENTS
The preparation of this document would not have been possible without the hard work and expertise
of Debbie Cyr, Bangor's DepuTy Finance Director. She is primarily responsible for preparing the
City's general purpose financial statements and the accompanying e�ibits, schedules and notes.
Additional thanks are extended to Rod McKay and his Community and Economic Development
staff, including Stan Moses,Katherine Weber, Sally Burgess,Dan Wellington, Maggie Ellison and
Jan Theriault for their research and technical support; Ben Birch, our City Assessor, for his help in
compiling and managing tax base data; David Little for his assista�ce in constructing the financial
statements; and, as always,to Annette Stover and Gail King in Central Services for their absolutely
indispensable help in assembling and publishing this document.
Finally,our sincerest thanks aze once again extended to the Bangor City Council and City Manager
Ed Barrett for their continued support of our efforts to further develop the City's financial
management and reporting capabilities. We hope that we have once again met your expectations of
us.
Respect lly submitted,
Ronald I. Heller
Finance Director
I-23
I
: City of Bangor, Maine
, Awards Received and Reco�nition Bestowed
1993-2000
Government Finance Officers Association of the '
� United States and Canada, 1998, 1999 a�nd 2000 �
Certificate of Achievement for Excellence in Financial Reporting For the City.'s Comprehensive
Annual Financial Report for the Fiscal Years Ended
June 30, 1997 through June 30, 1999 �
Residential Fire Safety Institute, 1998, 1999 and 2000
Life Safety Achievement Award to the Bangor Fire Departmenf
� ,,:.
United States Department,of Housmg and Urban Development,2000
Best Practices Award for Waterfront Development Efforts to
Gnmmunrty and Econornic Development ,;,,
, ,..
� ... . , _
, � ;
Maine Department,of Environmental:Protection, 1998
C��tificate of Achieveinent to John•Murphy,A'ssistant�ity;Engineer for
",..his creative,s approach,to`;CSO:reduction arid�for protecting arid zmproving the waters in the
. �' •' . 'F State of Maine•" r`
r:
. " ; e � ��� i:�� � t:,; .< . _.
- ` `Governor of the State of N�w'Hampshire;1998� �;
�;;
, Commendation Awarded to the Bangor Fire Departmerit for�' �
`Outstanding Service tof the State'of New Hampshire
�i ' � ,� !
,Maine Town and City Managers' Association, 1997 �
' ' Lmc Stackpole�lVlanager of tlie Year Award to -
. < ���� 3, ''-: ,,. � '. � " .
, = Edward A Barrett, City Manager
,� �
John J,Gunther Blue.Ribbon Practices in Commumty�D��elopment, 1997
°, ,, � Award in Housing and . .._
�.;, Award for Economic Opportumty
� ; ,_
_ ' ` :,a �� •.^., �' . .
Maine Department of En�ironmental Protechon�x�1997
Recognition as a National Leader..in the�Abateriient of:Corr�bined Sewer Overflows ,
, , . _ .:
,. ,... .f
National League'of,Cities Award, 1997
Shaw's Food and Driig Project
Bangor Convention and Visitors Bureau, 1997
Eagle Tourism Award to Dale Theriault and the Bangor Parks and Recreation Department
Fleet Bank All-Star Award, 1997
To Bangor Parks and Recreation Department
For Community Service for the Bangor Playground
Continued on Following Page
� . � I-24 .
Citv of Bansor. Maine
Awazds Received and Recognition Bestowed
1993-2000
jContinuedl
Maine School Superintendents Association, 1996
Superintendent of the Year Award to
James Doughty,Bangor Superintendent of Schools
United States Environmental Protection Agency, 1996
National First Place Award for Excellence in Controlling Combined Sewer Overflows
Consulting Engineers of Maine, 1996
Honor Award for Engineering Excellence for the Shaw's Food and Drug Project
Maine Association of Planners, 1996
Project of the Year Award to Community and Economic Development Staff for the Bangor Front
Street/Waterfront Development
American Consulting Engineers Council of New England, 1994
Excellence Awazd for Professional Design Excellence for the Upgrade and Expansion of the
Bangor Water Pollution Control Facility by CH2M Hill
New England Water Pollution Control Association, 1993
Alfred E. Peloquin Award to John Murphy, Staff Engineer for Significant Contributions to the
Wastewater Treatment Field
I-25
Certificate of
Achievement
f or Excellence
in Financial
� Aeportin
g
Presented to .
City of Bangor,
Maine
� For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1999
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government F'inance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
GE OFpj l' �/_
4�� cF9�, /C��.t� �
� UN1ED STAiES y
= y
� �`MAD" � President
caarow�lor� s
�� S]EdL �.�
�NICA60 -�_�` � .
l�����' (/ /�(
Executive Director
� _ __ ' ii " i _
CITY OF BANGOR ORGANIZATIONAL CHART CiTizENs
OF
BANGOR
CITIZEN ��T�' CITIZEN
COMMISSIONS COUNCIL BOARDS
CITY qSSESSING CITY C�TY
souCiToa MANAGER CLERK
ANIMAL ELECTIONS
CONTROL
COMMUNITY AND
INTERGOVERNMENTAL LICENSES
AFFAIRS
DEVEIOPMENT . GOVERNMENT BUSINESS AND ECONOMIC
• FINANCE SUPPOFiT OPERATIONS DEVELOPMENT
� BUfiEAU BUREAU BUREAU
AUDITINO TFEASURY ENFO CEMENT P�ANNINO ENGINEEFING TREA MEN T POLICE FIRE ECREATION ECONOM C DEV. INTERNA�ONAI BASS PARK
AIRPORT
FIRE DMINISTRATION MAINTENANCE AECREATION COMMUNITV ECONOMIC CIVICCENTER UDITORIUM
MANAGEMENT INSERVICESN HARBOR PUBLICWORKS MA�NTENANCE oEieGiive vnrn0� FIGH�INO DEVELOPMENT DEVEIOPMENT
. ADMtN15TRAT10 SERVICES FIRE OOLF STATE
PNEVENTION FAIR
euaEnu DOWNTOWN PARKIN6
PUFCHASINO � PHOGRAMS MANAGEMENT
� � FIEALTH�ND ADMINISTRATIVE CITV NURSING
. WELFAfiE SERVICES FACILITY
' GRELIEF� SERVIC S RESOUfiCE$ flELAT�ON$ �MiNISiRATION NURSINO .
DENTAL GRnNT FIEET H 10USEKEEPING
CLINIC FF GAAMS MAINTENANCE OU$ DIETARY AND .
MAINTENANCE
CENTRAL
� SERVICES .
1
City of Bangor, Maine
Elected Officials and Principal Administrative Officers
At June 30, 2000
City Council
Michael W. Aube, Mayor !
Joseph M. Baldacci � Patricia Blanchette
Michael R. Crowley Nichi S. Farnham
�
Gerry G.M. Palmer John M. Rohman
Daniel J. Tremble Judith Vardamis
Ci Staff �
Edward A. Barrett, City Manager
Benjamin F. Birch, City Assessor .
Gail E. Campbell, City Clerk
Ronald I. Heller, Finance Director
Norman Heitmann, City Solicitor
Bangor School Committee
Martha G.Newman, Chairman
Phyllis M. Shubert, Vice Chairman
Susan A. Carlisle . Suzanne M. Cox
Arthur G. Eaton,Jr. Christine Szal
School Committee Staff
Robert Ervin, Superintendent of Schools
Alan F. Kochis, Director of Business Services
' i
�
I-28
,
�' �
� Financial Section �
, �
�
- RUNYON -
KERSTEEN � �
OUELLETTE
,' Certified Public Accountants
& Business Consultants
Independent Auditor's Report
City Council
City of Bangor,Maine:
We have audited the accompanying general purpose financial statements of the City of Bangor,
Maine, as of and for the year ended June 30,2000,as listed in the table of contents. These
_. general purpose financial statements are the responsibility of the City of Bangor,Maine's
management. Our responsibility is to express an opinion on these general purpose financial
statements based on our audit.
' We conducted our audit in accordance with generally accepted auditing standards 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 general purpose financial statements
are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the general purpose financial statements. An audit also
� includes assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall general purpose financial statement presentation. We believe
that our audit provides a reasonable basis for our opinion. �
In our opinion,the general purpose financial statements referred to above present fairly, in all
material respects, the financial position of the City of Bangor,Maine as of June 30,2000,and the
results of its operations and the cash flows of its proprietary and nonexpendable trust fund types
for the year then ended in conformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose financial
statements taken as a whole. The combining and individual fund and account group statements
presented on Schedules A-1 through G-2, are for purposes of additional analysis and are not a
- required part of the general purpose financial statements of the City of Bangor,Maine. Such
information has been subjected to the auditing procedures applied in the audit of the general
purpose financial statements, and in our opinion,is fairly stated in all material respects in relation
to the general purpose financial statements taken as a whole.
20 Long Creek Drive
South Portland, ME 04106
207-773•2986 or i•s00•48G1784 � �
FAX 207-7723361 or 1•800-48G-1785
hccp://www.rko-cpas.com The CPA. Never Underestimate The Value
City Council
Page 2 `
The information in the statistical section has not been subjected to the auditing procedures applied
in the audit of the general purpose financial statements and, accordingly,we express no opinion
on such data.
In accordance with Government Auditing Standards,we have also issued a report dated
October 18,2000 on our consideration of the City of Bangor,Maine's internal control over
financial reporting and our tests of its compliance with certain provisions of laws,regulations,
contracts and grants.
J�'.P�i�J��.� O,c.ca�L�°`� _ .
�
October 18,2000
South Portland,Maine
�
`a ' . ' _. - ..
��'
COMBINED FINANCIAL STATEMENTS
� � ("Liftable" General Purpose Financial Statements)
— These basic financial statements provide a summary overview of the financial position of all
' . funds and account groups and of the operating results of all funds. They also serve as an
introduction to tfie more detailed statements and schedules that follow.
�
.
Exhibit 1
CITY OF BANGOR,MAINE
All Fund Types and Account Groups '
Combined Balance Sheet
June 30,2000
Proprierory Fidndrry �
Governmeatal Faml Types Fond Type Fvnds Aceonnt Gronps
�— � r-1 � Ceoeral Tohls
Special C�piW 7rnst and Long-tenn Genenl (Memowednm
Cenenl Revenae Projects Enterprise Agency Debt Fixed Aaseta Only)
ASSETS AND OTHER DEBITS
Cashandcashoquivelents S 610,224 $ 151,162 S 371,924 S 1,636,917 S 2,181 S - S - 5 2,772,408
invesqnenu 11,242,859 - - 19,755,756 1,975,424 - - 32,974,039
Receivables:
Taxes 2,660,033 - - • - - - 2,66(1,033 . `
Accounts,net ofallowence 912,�27 2,325 - 3,491,400 - - - 4,406,452
I�nerfundioanv 2,685,560 - - 242,848 • - - 2,928,408
Loans,net of allowance - 4,114,080 - 2,114,579 39,749 - - 6,266,408
Deferred spccial assessments - - 30,130 101,491 . . . 131,621
Imcvgov�unental 1,759,818 228,911 42,303 284,856 - - - 2,315,888
Due from water district - • - 131,564 - - 131,564
Immtories,at tost 340,001 - - 91,854 - . _ 431,855
Prepaid items 126,885 22,238 - 247,293 - - - 396,416
Fized assets �
(nei,where applicabie,of eccumulated depreciarion) - - - 180,130,21 I - - 66,O1 i,774 246,141,985
Other assets - • 1,063.621 3.704,955 � - - - 4,768,576
Amount available fm self imurance - - - - - 2,107,277 - 2,107,2I7 `�
Amwm to be prov;ded for:
Accrued compensated absences - • - . 1,397,881 - 1,397>887
Retirement ofgenerel long-term debt - - - - - 21,909,832 - 21.909.832
Retiremrnt of capiml leaces - - - - - 293,503 - 293,503
Mainc State Retirement liebiliry - - - - - 31,488,538 - 31,488,538
Totalasseisandotherdebits 520,338,t07 $4,518,716 51,507,978 5211,933,724 52,017,354 $57,197,037 E66,O1i,774 5363,524,690 �
,
The notes to the financial statements are an integral part of this statement.
Continued on facing page '
II-1
Exhibit 1(con't)
CTTY OF BANGOR,MAINE
All Fund Types and Account Groups
Combined Balance Sheet
June 30,2000
i Proprietary Fiduciary
Covemmental Fund Types Fond Type Funds Account Groups
�� �1 r General Totals
� Speclal Capitsl , Trust end Long-term Ceueral (Memorandum
� � General Revenue Projeck Enterprise Agency Debt Fized Asseta Only)
LIABILITIES AND FUND EQUITY
Liabilities:
Accounupayable 5 869,887 $ 71,521 $ 132,921 $ 1,326,652 $ 1,160 $ - $ - $ 2,402,141
Accrued wages aud benefits payable 2,676,881 - - 304,976 - - - 2,981,857
Accruedimemst. - - - 523,746 - - - 523,746
Accrued compensated absences - - - 281,814 - 1,397,887 - 1,679,701
Workers'compensation 607,890 - - 337,437 2,107,277 - 3,052,604
Deferred revenue 2,327,113 4,114,080 - 355,806 - - - 6,796,999
Ta�ces received in advance 80,368 - - - - - - 80,368
Amounts held for others - 34,674 - - 477,308 - - 511,982
Interfundloans payable - 520,348 - 2,408,060 - - - 2,928,408
Bor�ds and notes payable - - - 42,728,202 - 21,909,832 - 64,638,034
Deferred amount on refunding - - - (502,122) - - - (502,122)
Capital leases payable - - - - - 293,503 - 293,503
Unfundedacmarialliability - - - - - 31,488,538 - 31,488,538
� Other liabilities - - - 535,084 - - - 535,084
i
Totalliabilities 6,562,139 4,740,623 132,921 48,299,655 478,468 57,197,037 - 117,410,843
Fund equity and other credits
Contributed capital - - - ll2,819,951 - - - 112,819,951
InvesUnentin generalfixed assets - - - - - - 66,011,774 66,011,774
Retained earnings
.. Reserved for.
Capitat expenditures - - - 1,299,909 - - - 1,299,909
DeM service - - - 539,308 - - - 539,308
Unreserved - - - 48,974,901 - - - 48,974,901
Fund equiry
Reserved for.
E�umbrances 410,720 71,415 201,362 - - - - 683,497
Prepaid items 126,885 22,238 - - - - - 149,123
Loans - - , - - 134,1'I6 - - 134,176
Endowments - - - - 539,971 - - 539,971
Noncurtrnt interfund advance 2,370,000 - - - - - - 2,370,000
Unreserved:
Designated 3,788,941 - 931,208 - - - - 4,720,149
Undesignated 7,079>422 (315,560) 242,487 - 864,739 - - 7,871,088
Totalfund equiry and othercredits 13,775,968 (22I,907) 1,375,057 163,634,069 1,538,886 - 66,011,774 246,113,847
Total liabilities,fund equity
andothercredits $2Q338,107 $4,518,716 $1,507,978 $211,933,724 $2,017,354 $57,197,037 $6G,011,774 $363,524,690
The notes to the financial statements are an integral part of this statement.
Continued from previous page
II-2
Ezhibit 2
CTTY OF BANGOR,MAINE
All Goveromental Fund Types and Expendable Trust Funds
Combined Statement of Revenues,Expenditures and Changes in Fund Equity
For the fiscal year ended June 30,2000
Fiduciary �
Covernmental Fund Types Fund Type Totsls
Special Capital Expendable (Memorandam
General Revenue Projects Trust Only)
Revenues
Taxes $37,056,683 $ - $ - $ - $37,056,683 -
Intergovemmental 22,594,445 4,257,459 731,870 - '27,583,774
Licrnses and pectnits 393,354 - - - 393,354
Charges for services 8,482,948 314,841 - - 8,797,789
Fines,forfeits,and penalties 19,178 - - - 19,178
Revenue from use of money and property 1,502,678 - 228,389 21,039 1,752,106
Program income - 798,136 - - 798,136
Other - 7,537 64,354 221,224 293,115
Totalrevenues 70,049,286 5,377,973 1,024,613 242,263 76,694,135
ExpendiNres
Current:
General govemmrnt 3,566,853 - - - 3,566,853
Public ufety 9,384,779 - - - , 9,384,779
Health,welfare and recreation 2,626,456 - - - 2,626,456
Public buildings and services 7,080,082 - - - 7,080,082
Other egencies 2,500,460 - - - 2,500,460
Education 36,827,720 - - - 36,827,720
Other appropriations 1,545,415 - - - 1,545,415
Community developmrnt block grant - 2,005,962 - - 2,005,962
Othergrants - 3,371,962 - - 3,371,962
Payments to beneficiazies - - - 18,995 18,995
Debt service(excluding education) 1,214,661 - - - 1,214,661
Capital ouUay 451,708 - 4,818,363 - 5,270,071
Total expenditures 65,198,134 5,377,924 4,818,363 18,995 75,413,416 '
Excess(deficiency)ofrevemies over expenditures 4,851,152 49 (3,793,750) 223,268 1,280,719
Other fnancing sources-and(uses)
Sale of assets 44,465 - - - 44,468
General obligation debt - - 2,059,000 - 2,059,000
Reallceation of general obligation debt - - 635,100 - 635,100
Transferstootherfunds (1,161,429) (9,514) (78,150) (45,000) (1,294,093)
Transfers from other funds 228,866 - 1,329,316 - 1,558,182
Operatingsubsidies (1,383,103) - - - (1,383,103)
Capitalized leases 29,760 - - - 29,760
Total other financing sources (2,241,438) (9,514) 3,945,266 (45,000) 1,649,314
Excess(deficiency)ofrevenues and other
financing sources overexpenditures 2,609,714 (9,465) 151,516 178,268 2,930,033
Fund equity(deficit),luly 1 11,166,254 (212,442) 1,223,541 176,896 12,354,249
Fund equiry(deficit),June 30 $ 13,775,968 $ (221,907) $ 1,375,057 $ 355,164 $ 15,284,282
The notes to the financial statements aze an integral part of this statement �
II-3
Exhibit 3
CITY OF BANGOR,MAINE
• General Fund
Statement of Revenues and Expenditures and.Changes in Undesignated
� Fund Balance—Budget and Actual—Budgetary Basis
r For the fiscal year ended June 30,2000
Original Flnal
� � Budget Budget Actuel Variance �
Revenues
T�� $ 36,466,768 $ 36,466,�68 $ 37,037,176 $ 570,405
, Intergovertunental 16,811,347 16,824,244 18,936,166 2,1i1,922
Licenses and permits 362,536 362,536 393,354 30,818
Charges for services 8,205,664 8,358,864 8,147,181 (211,683)
Fines,forfeits,and penalaes 27,950 27,950 19,178 (8,772)
Revenuc from use of money
�d P*oPertY '715,992 722,630 933,427 210,797 •
Totalrevenues 62,590,257 62,762,992 65,466,482 2,703,490
Expenditures
Cwrent:
General govemment 3,470,730 3,510,514 3,481,542 28,972
Public safety 9,386,485 9,461,346 9,527,935 (66,589)
Health,welfare and recreation 2,611,421 2,667,235 2,624,858 42,377
Public buildings and services 7,359,324 7,3')5,050 7,073,693 301,357
Otheragencies 2,471,898 2,517,291 2,500,460 16,831
Educa6on 32,844,369 33,877,273 33,181,363 695,9,10
Olher appropriations 1,724,265 1,674,265 1,545,415 128,850
Debt service 1,228,978 1,228,978 1,214,661 14,317
' Totalexpenditura 61,097,470 62,311,952 61,149,927 1,162,025
Excess ofrevenues over expenditures 1,492,787 451,040 4,316,555 3,865,515
Other financing sources(uses)
Appropriation from designated fund balances 483,316 497,387 21,550 (475,839)
Appropriation ro designated fund balances (240,000) (24Q000) (24Q000) -
Saleofassets I,000 I,000 25,682 24,682
Transfers to other funds (400,000) (420,621) (420,621) -
Transfers from other funds 46,000 46,000 46,000 -
Operatingsubsidy (1,383,103) (1,383,103) (1,383,103) -
Total other Snancing sour�ces(uses) (1,492,787) (1,499,337) (1,950,492) (451,155)
Excess(deficiency)of revenues and other financing
� sources over expenditures and other financing uses $ - $ (1,048,297) 2,366,063 $ 3,414,360
Undesignated Pond balance,July 1 4,242,242
Appropriation from designated fund balance 515,000
Balances cartied from prior year �pqg Z97
Balances carried to succeeding year (1,092,180)
Undesignated fund balance,June 30 $ 7,079,422
�
The notes to the financial statements are an integral part of this statement.
II-4
Ezhibit-4
CITY OF BANGOR,MAINE
All Proprietary Fund Types and Similar Trust Funds
Combined Statement of Revenues,Espenses and Changes in Retained Earnings/Fund Equity
For the fiscal year ended June 30,2000
Proprietary Fiduciary
Fuod Type Fund Tvoe Totals
, Enterpdse Nonexpendable (Memorandnm
� Fuoda Trust Fuods Only)
Operating revenues
Charges for services S 20,975,500 $ - $ 2Q975,500
Interest - 93,038 93,038
Other - 90,193 90,193
Total operating revenues 20,975,500 183,231 21,158,731
Operating expenses
_ Operating expenses other than depreciation and
amortization 15,811,437 2,444 15,813,881
Depreciation and amortization on assets:
Acquired with own funds 3,614,173 - 3,614,173
Acquired with granu and contributions 4,230,501 - 4,230,501
Total operating expenses 23,656,111 2,444 23,658,555
Operating income(loss) (2,680,611) 180,787 (2,499,824)
Nonoperating revenues(e�cpenses):
Intcrest income 1,067,385 - 1,067,385
Interest expense (2,005,467) - (2,005,467)
Miscellaneous income 591,861 - 591,861
Total nonoperating income(expense) (346,221) - (346,221) o
Net income(loss)before operating
transfers (3,026,832) 180,787 (2,846,045)
Transfers to other funds (231,816) (46,900) (278,716)
Transfers from other funds 9,514 5,113 14,627
Operating subsidy 1,383,103 - 1,383,103
Netincome(loss) (1,866,031) 139,000 (1,727,031)
Add depreciation and amortization on fixed assets
acquireA with giants and contributions 4,230,501 - 4,230,501
Retained eamings/fund equity,luly 1 48,449,649 1,044,722 49,494,371 �
Retained eamings/fund equity,June 30 $ 50,814,119 $ 1,183,722 $ 51,997,841
� �
The notes to the financial statements are an integral part of this statement.
II-5
Exhibit 5
CITY OF BANGOR,MAINE
All Proprietary Fund Types and Similar Trust Funds
Combined Statemeot of Cash Flows
For the fiscat year ended June 30,2000
' Proprietary Fiducisry
Fund Type Fund Type Totals
Enterprise Nonexpendable (Memorandum
Funds Trust Funds Ooly)
Cash flows from operating activities
, Cash ieceived from customers $ 2Q858,002 $ - $ 2Q858,002
Cash payments to supplicrs for goods and services (7,510,108) (1,516) (7,511,624)
Cash paymenu to employees for services (8,536,980) - (8,536,980)
Other operating cash receipts - 100,447 100,447
Othec operating cash payments - (47,828) (47,828)
Net cash provided by(used in)operating activities 4,810,914 51,103 4,862,017
Cash flows from noncapital financing activities
[nterfund loans (518,212) - (518,212)
Transfer out (220,074) - (220,074)
Operatingsubsidiesreceived 1,383,103 - 1,383,103
NM cash provided by noncapital financing activities 864,891 - 864,891
Cash flows from capital and related financing activities
Proceeds from general obligation debt 1,046,000 - 1,046,000
Acquisitions and construction ofcapital assets (6,602,761) - (6,602,761)
Principal paid on general and limited revenue obligation bonds (4,025,786) - (4,025,786)
Interest paid on general and limited revenue obligation bonds (1,969,565) - (1,969,565)
Proceeds from sale of equipment 1,543,308 - 1,543,308
Grant monies received for capital assets 3,953,394 - 3,953,394
Contributions received for capital assets (2,228) - (2,228)
Inveshnentofbond proceeds (241,135) - (241,135)
Net cash used in capital and related financing acdvities (6,298,773) - (6,298,773)
Cash flows from investing activities
Net sales(purchases)of investments (556,519) (142,887) (699,406)
Interestoninvestrnents 1,061,972 91,784 1,153,756
Loansissued (242,848) - (242,848)
Loan repayments I39,054 - 139,054
Net cash provided by investing activities 401,659 (51,103) 350,556
Net increase in cash (221,309) - (221,309)
Cash,luly 1 2,078,300 - 2,078,300
Cash,lune 30 $ 1,856,991 $ - $ 1,856,991
ScMedule of noncash investing,capital and financing activities:
During the yeaz,an enteipirse fund received a noncuh contribution,amounting to$242,848,basedon a special revenue fund's payment of
debt service on property held by the enterprise fund. r
The notes to the financial statements are an integral part of this statement.
Continued on following page
II-6
Exhibit 5(con't)
CITY OF BANGOR,MAINE '
All Proprietary Fund Types and Similar Trust Funds
Combined Statement of Cash Flows
For the�scal year ended Jane 30,2000
Proprietary Fiduciary
Fund Type Fund Type Totals
Enterprise Nonexpendable (Memorandum
Funds Trust Funds Only)
Reconciliation of operating income to net cash provided by
(used in)operating activities
Operating income(loss) $ (2,680,611) 8 180,787 $ (2,499,824)
Adjustrnrnls to reconcile operating income to net cash provided
by(used in)operating activities
� Depreciation and amortization 7,844,674 - 7,844,674
Allowance for uncollectible accounts (98,549) - (98,549)
Presentation differmces:
Imerest - (88,009) (88,009)
Transfers,net - (41,787) (41,78I)
Studentloan fund - Il2 112
Changes in assets and liabilities:
(Increase)decrease in accounts receivable (36,896) - (36,896)
(Increase)decrease in due from water dishict (345) - (345)
(Increase)decrease in inventories . 22,216 - 22,2I6
(Increase)decrease in prepaid items (183,268) - (I83,268)
Increax(decrease)in accounts payable 199,579 - 199,579
Increase(decrease)indefeaedrevrnue (81,105) - (81,105)
Increase(decrease)in other current]iabilities ' (174,780) - (174,780)
Total adjushnents 7,491,526 (129,684) 7,361,842
Net cash provided by(used in)operating aciivities $ 4,810,915 $ 51,103 $ 4,862,018
The notes to the financial statements are an integral part of this statement.
Continued from previous page
II-7
INDEX OF NOTES TO FINANCIAL STATEMENTS
Summary of Signiticant Accounting Policies
Note Pa�e
A Reporting Entity II—8
, B Measurement Focus,Basis of Accounting and Basis of Presentation II—8
C Assets,Liabilities and Equity II— 10
Stewardship,Compl�ance and,Accountability -
. A Budgetary Informat�on ' � II- 13
B Budget/GAAP Rec:onc�liat�onf r �3 � II— 13
�; ;
C Excess of Expend��ures O�er Appropr�ations � `- = II— 14
D Deficrt Fund Equitiy =� _.: ; ; II— 15
._� � �
� � Detailed„/Notes on All Funds and Account Groups 5C
, �� &
-� =
^ % '. , �' ��;; �
.
: � ,,
A Depdsrts ana Jnvestments< .� ' ' ' II;' 1'S
B Prop.erty Ta� � -"II 16
C Interfund Transactions � .� II " 17
D Due From Other Governments ' � ` II�= 17
F.
E Fixed Assefs 3 � �'��` ;II;=- 18
f
F Leases � � t � ; �< ' II— 19
G Other AssetsE � � IT—20
; > : �. � .;
� H Deferred Revenue';'. ` „� ,. . F ; =,II 20
.,
` I Lon Terrn Debt :_ .; E E ; � , ,; TT'.` 20 :;
g
J Contnbuted Cap�tal z .; II; 23 `
; ;
, � , . ,� ,,.
K Nonexpendable and Expendable Trust Fund Balances� �y II= 24
� L Designated'Fund Baiance, ' ; - s =,,� :II—26
` j G
� � . ,-0ther Information �
� ,..
� A Risk Management : ' II—27
B Tax Increment Financ�ng'Drstricts � �°��� II—28
•
�,,..
_ C Segment Information—'"Enterpnse Funds ' II—28
D Contingent Liabilities . , II—29
E Retirement '^' II—29
F Landfill Closure and Postclosure Care Costs,,�` II—31
G Subsequent Events II—31
� CITY OF BANGOR,MAINE
Notes to Financial Statements
June 30,2000 .
SUMMARY OF.SIGNIFICANT ACCOUNTING POLICIES
The accounting methods and procedures of the City of Bangor conform to generally accepted accounting
principles(GAAP)as applied to government units. The Governmental Accounting Standards Board(GASB) is
the accepted standard-setting body for establishing governmental accounting and financial reporting principles.
The more significant of the City's accounting policies are described below.
A. Reporting Entity
The City of Bangor was incorporated under the laws of the State of Maine in 1834 and operates under a
council/manager form of government. In evaluating how to define the reporting entity, for financial
reporting purposes, management has considered all potential component units. The decision to include a
potential component unit was made by applying the criteria set forth in generally accepted accounting
principles. The criterion used defines the reporting entity as the primary government and those component
units for which the primary government is financially accountable. Financial accountability is defined as
appointment of a voting majority of the component uniYs board and either a)the ability to impose will by
the primary government, burden on the primary government. Based upon all pertinent facts derived from
the analysis of the above criteria, it was determined that no additional entities should be included as part of
theses financial statements.
B. Measurement Focus,Basis of Accounting,and Basis of Presentation
The City uses funds and account groups to report on its financial position and the results of its operations.
Fund accounting is designed to demonstrate legal compliance,and to aid financial management by
segregating transactions related to certain government functions or activities. A fund is a separate '
accounting entity with a self-balancing set of accounts. An account group,on the other hand, is a financial
reporting device designed to provide accountability for certain assets and liabilities that are not recorded in
the funds because they do not directly affect net expendable available financial resources.
Funds are classified into three categories: governmental,proprietary and fiduciary. Each category, in turn,
is divided into separate "fund types".
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus.
All Governmental Funds are accounted for using a current financial resources measurement focus. With
this measurement focus,only cunent assets and current liabilities generally are included on the balance
sheet. Operating statements of theses funds present increase(i.e.,revenues and other financing sources)
and decreases(i.e.,expenditure and other financing uses)in net current assets.
All Governmental Fund types use the modified accrual basis of accounting. Under the modified accrual
basis of accounting,revenues are recognized when susceptible to accrual(i.e.,when they become both
measurable and available). "Measurable means the amount of the transaction can be determined and
"available"means collectible within the cunent period or soon enough thereafter to be used to pay
liabilities of the current period. Expenditures are recorded when the related fund liability is incurred.
Principal and interest on general long-term debt are recorded as fund liabilities when due. Certain
compensated absences, claims and judgments are recorded as fund liabilities when expected to be
liquidated with expendable available financial resources.
II- 8
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Those revenues susceptible to accrual are property taxes and charges for services. Fines, licenses, and
permits are not susceptible to accrual because generally they are not measurable until received in cash.
Governmental funds are used to account for all or most of a City's general activities, including the
collection and disbursement of earmarked monies(special revenue funds), and the acquisition or
construction of general fixed assets(capital project funds). The General Fund is used to account for all
activities of the general government not accounted for in some other fund. The following are the City's
governmental fund types:
General Fund—The General Fund is the general operating fund of the City. 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(other than expendable trusts or major capital projects)that are legally restricted to expenditure for
� specified purposes.
Capital Projects Fund—The Capital Projects Fund is used to account for financial resources to be used for
the acquisition or construction of fixed assets and major capital facilities(other than those financed by
proprietary fund).
All Proprietary Funds and Nonexpendable Trust Funds are accounted for on a flow of economic resources
measurement focus. With this measurement focus, all assets and all liabilities associated with the operation
of these funds are included in the balance sheet. Fund equity(i.e., net total assets) is segregated into
contributed capital and retained earnings components. Proprietary Fund type operating statements present
' increases(i.e., revenues)and decreases(i.e., expenses) in net total assets.
The accrual basis of accounting is utilized by Proprietary Fund Types and Nonexpendable Trust Funds.
Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are
incurred. The City has adopted Governmental Accounting Standards Board Statement No. 20"Accounting
and Financial Reporting for Proprietary Funds and Other Governmental Entities That Use Proprietary Fund
Accounting",whereby the City has elected to apply all applicable GASB pronouncements as well as
Financial Accounting Standards Board(FASB)pronouncements issued before November 30, 1989,unless
the FASB pronouncements conflict with or contradict GASB pronouncements.
Proprietary funds are used to account for activities similar to those found in the private sector,where the
determination of net income is necessary or useful to sound financial administration. Goods or services
from such activities are primarily provided to outside parties. The following is the City's Proprietary Fund
Type:
Enterprise Funds—Enterprise Funds are used to account for operations(a)that are financed and operated in .
a manner similar to private business enterprises,where the intent of the governing body is that the costs
(expenses, including depreciation)of providing goods or services to the general public on a continuing basis
be financed or recovered primarily through user charges; or(b)where the governing body has decided that
periodic determination of revenues earned, expenses incurred, and/or net income, is appropriate for capital
maintenance,public policy,management control, accountability or other purposes.
II-9
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,CONTINUED
Fiduciary Funds are used to account for assets held on behalf of outside parties, including other
governments.The following are the City's Fiduciary Fund Types:
Nonexpendable Trust Funds—Nonexpendable Trust Funds carry the obligation to maintain the trust
principal,accordingly the funds are accounted for and reported as proprietary funds since capital
maintenance is critical.
Expendable Trust Funds—Expendable Trust Funds account for assets where both the principal and interest
may be expended. The funds are accounted for and reported as governmental funds.
A�encv Funds—Agency Funds are custodial in nature and do not present results of operations or have a
measurement focus. The funds generally are used to account for assets that the City holds on behalf of
others as their agent.
Account Groups are used to establish accounting control and accountability for certain long-term assets and �
liabilities of governmental fund types. The account groups do not present results of operations or have a
measurement focus. The following are the City's Account Groups:
General Fixed Asset Account Group—This account group is established to account for all fixed assets of
the City,other than those accounted for in tlie proprietary funds.
General Lon�-Term Debt Account Groun—This account group is established to account for all long-term
debt of the City except that accounted for in the proprietary funds.
C. Assets,Liabilities and Equity
1. Cash and Investments
Cash includes amounts in demand deposits as well as short-term investments with a maturity date within
three months of the date acquired by the City. State statutes authorize the City to invest in obligations of
the U. S. Treasury, commercial paper,corporate bonds and repurchase agreements,prohibited by City
policy is the investment is so-called"derivative instruments.
2. Interfund Loans
Operations during the course of the year give rise to interfund lending/borrowing arrangements. These
loans are classified as"Interfund loans receivables"or"interfund loans payables"on the balance sheet.
The amount of such balances not expected to be repaid in the foreseeable future are reserved for in the
City's general fund.
3. Inventories and Prepaid Items
Inventories consist of expendable supplies held for consumption and are valued at cost. Under the
consumption method,the costs of inventory items are recognized as expenditures/expenses when used. The
consumption method does not require a reserve for inventory and the City has chosen not to have such a
II- 10
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
reserve. Payments made to vendors for services that will benefit future fiscal years are recorded as prepaid
items,with an offsetting reserved fund balance.
4. . Fixed Assets
General Fixed Assets
General fixed assets acquired for general government purposes are recorded as expenditures in the
governmental funds and capitalized at cost in the General Fixed Asset account group. The amount of
interest incurred during construction of capital assets is not capitalized in the General Fixed Asset account
group. No depreciation is recorded on general fixed assets.
Public domain("infrastructure")general fixed assets consist of roads,bridges,curbs and gutters, streets and
sidewalks and lighting systems are not capitalized,as these assets are immovable and of value only to the
City. Therefore,the purpose of stewardship for capital expenditures is satisfied without recording these
� assets. The costs of normal maintenance and repairs that do not add to the value of the assets or materially
extend asset lives, also, are not capitalized.
Proprietary Fixed Assets
Property and eyuipment acquired by the City's enterprise funds are reported at cost or at estimated fair .
value at time of donation. Construction costs of sewer lines and airport improvements that are funded
through grants,entitlements or shared revenues are capitalized and reported as contributed capital. Interest
costs incurred during the construction phase of proprietary fund fixed assets is reflected in the capitalized
value of the constructed asset,net of interest earned on the invested proceeds over the same period.
Depreciation is charged to operations over the fixed assets' estimated useful lives using the straight-line
method. Depreciation on assets acquired through contributions is closed to the contributed capital account.
The cost of normal maintenance and repairs that do not add to the value of the assets or materially extend
asset lives are expensed.
In the enterprise funds,the following estimated useful lives are used.to compute depreciation:
Buildings 25—40 years
Equipment 5 -20 years
Pipelines and mains 100 years
Aircraft operational assets 5—40 years
5. Compensated Absences
Governmental Fund Types
Accumulated vacation or compensatory time or vested sick leave that is expected to be liquidated with
expendable resources is reported as an expenditure and a fund liability of the fund that will pay it. Amounts
of accumulated leave that are not expected to be liquidated with expendable available financial resources
are reported in the General Long-term Debt account group. No expenditure is reported for these amounts.
II- 1 l
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,CONTINUED
Proprietary Fund Types
Accumulated vacation,compensatory time and vested sick leave is recorded as an expense and liability of
those funds as the benefits accrue to employees. No liability is recorded for non-accumulating rights to
receive sick pay benefits.
6. Long-term Obligations
Governmental Fund Types
Long-term debt is recognized as a liability when due. For other long-term obligations,only that portion
expected to be financed from expendable available resources is repoRed as a fund liability. The remaining
portion of such obligations is reported in the General Long-Term Debt account group.
Proprietary Fund Types o
Long-term debt and other obligations are reported as liabilities and accounted for in these funds.
7. Fund Equity
Contributed capital is record in propriety funds that have received capital grants or contributions from
developers, customers or other funds. Reserves represent those portions of fund equity not appropriable for
expenditure or legally segregated for a specific future use. Designated fund balances represent tentative
plans for future use of financial resources.
8. Memorandum Only—Total Columns
Total columns on the general purpose financial statements are captioned"memorandum only"to indicate
that they are presented only to facilitate financial analysis. Data in these columns do not present financial
position,results of operations or changes in cash flows in conformity with GAAP. Neither are such data
comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
9. Comparative Data
Comparative total data for the prior year have been presented in the accompanying financial statements in
order to provide an understanding of changes in the City's financial position and operations. However,
, comparative data has not been presented in all statements because its inc(usion would make certain
statements unduly complex and difficult to understand. Also, certain amounts presented in the prior year
data have been reclassified in order to be consistent with the current year's presentation.
II- 12
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
STEWARDSHIP,COMPLIANCE AND ACCOUNTABILITY
A. Budgetary Information.
Budgets are prepared on a modified accrual basis of accounting,with the exception of depreciation within
the enterprise funds. Budgets for the General Fund and enterprise funds are formally adopted each year
through the passage of an appropriation resolve. Budgets for special revenue and capital projects funds
have adopted project-length budgets. Unencumbered appropriations lapse at fiscal year end.
Encumbrances represent commitments related to unperformed contracts for goods or services.
Encumbrance accounting is employed in governmental funds. Encumbrances(i.e.,purchase orders,
contracts,and otfier commitments)outstanding at year end are reported as reservations of fund balances and
do not constitute expenditures or liabilities because the commitments have not be honored in the current
year. For budgetary purposes,encumbrances are treated as expenditures within both governmental and
proprietary fund types.
On or before the second Monday in April,the City Manager submits to the City Council a proposed
' operating budget for the ensuing fiscal year. The Council holds public meetings and a final budget must be
prepared and adopted no later than June 30th. Should the Council fail to adopt an operating budget on or
before June 30th,by Charter,the budget proposed by the City Manager becomes effective.
The budgeted is adopted at the department level through the passage of appropriation resolves. The City
Manager may make transfers of appropriations within a department. Transfer between departments or
additional appropriations require the approval of the City Council. The City Council made several
supplementary budgetary appropriations throughout the year,which were not considered material.
B. BudgetlGAAP Reconciliation
The following schedule reconciles the General Fund amounts on the Statement of Revenues, Expenditures,
and Changes in Unreserved/Undesignated Fund Balance—Budget and Actual—Budgetary Basis to the
amounts on the Combined Statement of Revenues, Expenditures,and Changes in Fund Balances:
Excess of revenues and other financing sources over
expenditures and other uses(budget) $2,366,063
Activity in designated fund balance 308,893
2000 encumbrances 410,720
1999 encumbrances lapsed (20,670)
1999 encumbrances paid (455,292)
Excess of revenues and other financing sources over �
expenditures and other uses(GAAP) 2 60 4
, II- 13
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
STEWARSHIP,COMPLIANCE AND ACCOUNTABILITY,CONTINUED
The following schedule reconciles the amounts on the enterprise funds' Schedules of Revenues,
Expenditures and Encumbrances—Budget and Actual—Budgetary Basis to the amount on the Combined
Statement of Revenues,Expenses, and Changes in Retained Earnings/Fund Balances:
Excess(deficiency)of revenues over expenditures
and encumbrances:
Sewer $ (1,064,512)
Airport (367,791) .
Park Woods 13,937
City Nursing Facility 347,941
Parking (322,440)
Bass Park (210,394)
Municipal Golf Course 83,005
Economic Development 31,718
(1,488,536) ,
Nonoperating revenues ciassification (2,339,854)
Investments at market value (406,900)
Capital outlay 512,926
Capital projects (183,023)
Cash basis to accrual basis adjustments (137,004)
Principal payments 3,018,096
2000 encumbrances 405,367
1999 encumbrances (96,174) ,
Nonoperating expenses classification (1,965,509)
Operating loss $ 2 6�� 80 61 )
C. Excess of Expenditures Over Appropriations
General Fund—The following departments were over-expended by the indicated dollar amounts;Council
$5,016,Executive$2,531,Assessing$4,701, Finance$55,524,Police$88,302, and Parks and Recreation
$9,295. These over-expenditures were funded by receipt of revenues in excess of appropriation and under-
expenditures within other General Fund departments.
Parkin�—This fund was over-expended on a budgetary basis by$27,071. The deficit is eliminated on a
GAAP basis.
Bass Park—This fund was over-expended on a departmental basis by$37,368. The deficit was not funded
and resulted in an increase to the deficit retained earnings balance.
Economic Development—This fund was over-expended on a departmental basis by$25,755. The deficit
was funded by receipt of revenues in excess of appropriation.
II- 14
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY,CONTINUED
D. Deficit Fund Equity
Special Revenue Fund
Community Development Block Grant—The deficit of$371,809 will be funded in the subsequent year with
increased collection of program income.
Grant—The deficit of$730 will be funded in the subsequent year with increased collection of program
income.
Enterprise Funds
Park Woods—The deficit of$59,128 has stabilized. The deficit will be funded in the subsequent year
through increased collection efforts and proper maintenance of the development.
City Nursin Facility—The deficit of$668,576 represents a$426,090 improvement from prior year's
results. This was due to improved operating performance driven by dramatic increases in occupancy
levels. Nevertheless,the City Council had previously directed that the facility should be spun off into a
private,not-for-profit entity. These efforts are substantially complete,as described more fully under the
"Subsequent Events"note to theses financial statements.
Bass Park—The deficit of$1,426,264 represents continued deterioration. The City Council has begun to
take steps to address this ongoing problem,and has determined that the facility will either be closed or
replaced in fiscal year 2004 under a financial and management structure that more clearly reflects its
economic benefit and more equitably distributes it business risk.
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS
A. Deposits and Investments
At year end, the City's carrying amount of deposits was$2,783,107 and the bank balance was$4,062,881.
Of the bank balance, $2,271,832 was covered by federal depository and Travelers insurance or by collateral
held by the City in its name,the remaining$1,791,049 was uninsured.
Statutes authorize the City to invest in obligations of the U.S.Treasury, agencies and instrumentalities,
repurchase agreements,corporate securities,financial institution stocks,and other stock investments.
Investments are categorized as follows to give an indication of the level of risk assumed by the City at year
end:
(1) insured or registered or for which securities are held by the City or its agent in the City's name,
(2) uninsured and unregistered for which the securities are held by the bank's trust department or agent in
the City's name,
(3) uninsured and unregistered for which the securities are held by the bank's trust department or agent but
not in the City's name.
II- 15
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
At year end,the City's investments consisted of the following:
Carrying Cate�ry
Value 1 2 3
U.S. Government and agencies $30,904,124 - $30,904,124 -
State of Maine(agency bonds) 589,094 - 589,094 -
Certificate of deposit 321,532 321.532 - -
31,814,750 321,532 31,493,218 -
Mutual Funds(1) 4,906,119 - - -
Total investments 36.720.869 309.706 33,206.429 -
(1)Mutual Fund investments are not classified in any of the three above categories because they are not
evidenced by securities that exist in physical or book entry forrn.
Due to higher cash flows at certain times during the year,the City's investment in U.S. Government and
agency obligations,repurchase agreements and mutual funds fluctuates significantly.
A reconciliation of cash and investments as shown on the combined balance sheet for the City follows:
Cash and Cash Equivalents $ 2,772,408
Investments 32,974,039
Investment of bond proceeds(other assets) 3,746,830
39,493,277
Add: Pending collection items 10,699
•$39.503.976
Carrying amount of deposits 2,783,107
Carrying amount of investments 36,720,869
Carrying amount of investments 39.503.976
B. Property Tax
Property taxes for the current year were levied July 1, 1999,on the assessed value listed as of the prior
April 1 for all real and personal property located in the City. Assessed values are periodically established
by the City's Assessor at 100%of assumed market value. Taxes were due in two installments: September
15, I999 and March 15,2000. Interest was charged at 10%on all taxes unpaid as of the due date.
Property taxes levied during the year were recorded as receivables at the time the levy was made. The
receivables collected during the year and in the first sixty days following the end of the fiscal year have been
recorded as revenues. The remaining receivables have been recorded as defened revenues. Tax liens are
placed on real property within twelve months following the tax commitment date if taxes are delinquent.
The City has the authority to foreclose on property eighteen months after the filing of the lien if the tax liens
and associated costs remain unpaid.
II- 16
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
C. Interfund Transactions
Individual fund interfund receivable and payable balance at June 30, 2000 were as follows:
Receivable Payable
General Fund $2,685,560 -
Community Development B1ock Grant Fund - 435,348
Grant Fund , - 85,000
Sewer Utility Fund 242,848 -
Park Woods Fund - 40,488
City Nursing Facility Fund - 783,217
Bass Park Fund - 1,584,355
2.928.408 2928.408
Individual fund transfers to and from other funds for the fiscal year ended June 30,2000 were as follows:
Transfers to Transfer from
General Fund $ 1,161,429 $ 228,866
Special Revenue Funds 9,514 -
Capital Projects Fund 78,150 1,329,316
Expendable Trust Funds 45,000 -
Enterprise Funds 231,816 9,514
Nonexpendable Trust Funds 46,900 5,113
1.572.809 $ 1.572.809
D. Due From Other Governments
Due from other governments is comprised of the following amounts at June 30,2000:
Federal State of
Government Maine Other Total
General Fund $ 101,598 1,326,326 331,894 1,759,818
Special Revenue Funds $203,911 25,000 - 228,911
Capital Projects Fund $ - 42,303 - 42,303
Enterprise Funds $264,856 20,000 - 284,856
Of the General Fund's $1,326,326 due from State of Maine, $1,000,802 represents school subsidies and
State agency billings, and $131,051 represents general assistance claims.
II- 17
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
E. Fixed Assets
The following is a summary of changes in the General Fixed Asset Account Group during the fiscal year:
Transfers Capital
Balance and project Balances
June 30, 1999 Additions deletions close-outs June 30,2004
Land,buildings,and
construction in process:
Land $ 5,198,491 - - - 5,198,491
Schoolland 1,350,988 - - - 1,350,988
Buildings 5,464,613 - - 382,783 5,847,396
School buildings 26,262,569 92,970 - 6,327,670 32,683.,209
Construction in process 8,547,039 1,709,929 �77,758Z(8,040,776) 2,138,434
Total land,buildings,and
construction in process 46,823,700 1,802,899 (77,758)(1,330,323) 47,218,518
Equipment:
Vehicles 7,383,931 43,518 - 978,274 8,405,723
Machinery and equipment 4,494,515 82,954 - 352,049 4,929,518
School other 5,255,509 � 202,506 - - 5,458,OI5
Total equipment 17 133 955 328 978 - 1 330 323 18 793 256
Total fixed assets $63.957.655 2.131.877 (77.7581 - 66.011.774
The following is a s.ummary of the proprietary fund type property,plant and equipment at June 30,2000:
Land $ 979,809
Buildings,plant and equipment 47,011,878
Pipelines and mains 35,607,955
Aircraft operational assets 188,576,189
Parking structures 6,889,442
Construction in process 6,458,837
285,524,110
Less: accumulated depreciation 105,393,899
180.130.211
In 2000,total proprietary fund type interest incurred was$2,059,478. Of that amount$2,005,467 was
charged to operations and$54,011 was capitalized during the year. .
II- 18
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS, CONTINUED
F. Leases
Operating Leases
The Airport and Economic Development Fund are the lessors of various buildings and land parcels under
operating leases expiring in various years through 2036 and 2033,respectively. Minimum future rentals to
be received on noncancelable leases as of June 30, 2000 are:
Fiscal year ending Economic
June 30, Airport Development
2001 $ 2,004,508 254,220
2002 2,004,685 213,171
2003 1,661,668 210,610
2004 866,732 204,687
2005 710,922 180,720
Subseyuent to 2005 7,944,679 2,731,432
13,389.136 3.794.840
Minimum future rentals do not include contingent rentals,which may be received as stipulated in the lease �
contracts. The Airport received $1,368,314 in contingent rentals in fscal year 2000.
Capital Leases
The General Fund is obligated under leases accounted for as capital leases. The leased assets and related
obligations are accounted for in the General Fixed Asset and Long-Term Debt Account Groups. The
following is a schedule of future minimum lease payments under the capital leases,together with the net
present value of the minimum lease payments as of June 30,2000.
Fiscal year ending
June 30, General Fund
2001 $ 84,168
2002 84,168
2003 84,168
2004 72,954
2005 3,491
Minimum lease payments 328,949
Less: interest 35,446
Present value of minimum
lease payments 2 3 503
II- 19
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
G. Other Assets
Other assets are comprised of the following:
Capital Enterprise
Projects Fund Fund
Investment of bond proceeds $ 1,063,621 2,683,209
Deposits - 15,000
Operating rights(net of amortization) - 164,953
Bond issuance costs(net of amortization) - 228,285
Property held for resale - 613,508
Total 1.063.621 3.704.955
H. Deferred Revenue
General Fund deferred revenue consists of$2,175,916 in deferred taxes and$151,197 of advance deposits.
Special Revenue Funds deferred revenue of$4,114,080 represents future revenue equal to loans made
pursuant to the Community Development,Urban Development Action Grants and Economic Incentive
Revolving Loan Fund. Under the terms of these grants, loans made are recognized as an expenditure in the
Special Revenue Fund when they occur. Further, in accordance with regulations governing such funds,the
repayments of such loans are considered program income as received and are available to the recipient for
additional use within the program. Enterprise Funds deferred revenue of $355,806 represents advance
deposits.
I. Long-Term Debt
General Obligation Bonds
The City issues general obligation bonds to provide funds for the acquisition and construction of major
capital additions. General obligation bonds have been issued for both general government and enterprise
activities. These bonds are reported in the enterprise funds if they are expected to be repaid from enterprise
fund revenues. In addition,general obligation bonds have been issued to refund general obligation bonds.
General obligation bonds are direct obligations and pledge the full faith and credit of the government.
These bonds generally are issued as 20-year serial bonds.
The following is a summary of general obligation bond and note transactions of the City for the fiscal year
ended June 30,2000:
Bonds and notes payable at June 30, 1999 $62,890,816
Add: principal additions 3,105,000
Less: principal repayments 6,067,782
Bonds and notes payable at June 30, 2000 59.928.034
II -20
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
Bonds and notes payable at June 30, 2000 are comprised of the following:
Fiscal year Interest General Fund Enterprise Total
of maturitv rate City School Funds June 30.2000
Long-term debt:
Public improvements- 1981 2001 10.0% $ 24,480 95,520 - 120,000
Public improvements- 1988 2008 7.37%8.60% - - 800,000 800,000
Public improvements- 1990 2011 7.00%7.10% 86,000 - 399,000 485,000
Treatment Plant 2013 5.00% - - 12,350,000 12,350,000
Public improvements-1992 2013 5.00%5.30% - 4,350,000 3,790,000 8,140,000 .✓'
Public improvements- 1992 2003 4.75%-5.40% 155,000 - - 155,000
Public improvements- 1993 2001 3.30%-4.65% 458,540 - 5,460 464,000
Combined sewer overflow 2014 2.46% - - 1,304,800 1,304,800
Combined sewer overflow 2014 2.45% - - 1,390,200 1,390,200
Refunding bonds 2011 2.35%-5.20% 310,921 3,O12,538 7,016,541 10,340,000
Public improvements- 1996 2016 5.05%5.85°/a 750,m00 - - 750,000'�
Combined sewer overflow 2017 3.52% - - 2,589,529 2,589,529"
Tax increment financing note* 2016 6.00%-6.90% 900,000 - - 900,000
Public improvements—1996 2017 5.35%-6.50% 1,350,000 - - 1,350,000°`�
Combined sewer overflow 2018 3.03% - - 2,250,129 2,250,12A
Public improvements—1997 2018 4.875%-5.3% 3,059,133 3,275,000 1,615,867 7,950,000'
Tax increment financing note* 2018 6.19% 271,000 - - 271,000
Public improvements note 2002 3.80% 635,100 - 753,914 1,389,014''
Public improvement-1999 2019 4.20% 957,600 160,000 2,.122,400 3,240,000�
Maine Business Enter Park 2018 5.00% - - 243,739 243,739
Waterfront note* 2004 6.00% - - 340,623 340,623
Public improvements-2000 2020 5.25%-5.90% 2 059,000 - 1,046.000 3JO5,000
Total bonds and notes payable 11.016.774 10.893_058 38.018_ 59.928_034
* Three series of general obligation notes aggregating$1,511,623 are held by the City's Airport Fund at
fixed,taxable market rates of interest. These notes are structured with a put feature,which,upon certain
precedent conditions,allows the Airport to present them for redemption to the City's General Fund. It is
management's intention, should a put occur,to fund it by passing the note along to its Sewer Fund,where it
will be converted to a three to five year fixed note with level debt service,albeit without a put option.
Annual debt service reyuirements to maturity for general obligation bonds and notes payable are as
follows:
Fiscal year ending
June 30, Principal Interest Total
2001 $ 4,707,892 2,713,501 7,421,393
2002 5,539,315 2,427,963 7,967,278
2003 4,142,005 2,223,266 6,365,271
2004 4,221,456 2,020,276 6,241,732
2005 4,009,537 1,825,820 5,835,357
2006-2010 20,013,171 6,338,277 26,351,448
20l 1-2015 12,581,711 2,379,790 14,961,501
2016-2020 4,712,947 447,004 5,159,951
Total 59.928.034 20.375.897 80303.931
II-21
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
The City is subject to the laws of the State of Maine,which limits the amount of long-term debt to I S%of
the state's assessed valuation of the City. At June 30,2000,the statutory limit for the City was
$215,017,500. The City's outstanding long-term debt of$59,928,034 at June 30,2000 was within the
statutory limit.
Revenue Bonds
Revenue bonds are where income derived from the acyuired or constructed asset is pledged to pay debt
service. Bangor International Airport(Airport Fund)has$4,710,000 of limited obligation revenue bonds
outstanding at June 30, 2000,the proceeds of which were used to finance expansion of the terminal. The
interest rate varies from 5.00%to 6.70%with final maturity in fiscal year 2013.
The following is a summary of limited obligation revenue bond transaction of the City for the fiscal year
ended June 30,2000:
Limited obligation revenue bonds at June 30, 1999 $4,940,000
Add: principal additions -
Less: principal repayments 230,000
Limited obligation revenue bonds at June 30, 2000 4.710.000
Annual debt service requirements to maturity for limited obligation revenue bonds are as follows:
Fiscal year ending
June 30, Principal Interest Total
2001 $ 245,000 293,643 538,643
2002 . 260,000 279,308 539,308
2003 275,000 263,789 538,789
2004 290,000 247,045 537,045
2005 310,000 228,890 538,890
2006-2010 1,870,000 812,420 2,682,420
2011-2015 1,460,000 151,086 1,611,086
Total 4.710_000 2,276.181 6.986.1_81
Advance Refunding
In prior years,the City defeased certain general obligation bonds by placing the proceeds of new bonds in
an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly,the trust
account assets and the liability for the defeased bonds are not included in the city's financial statements.
At June 30,2000, $3,163,900 and $6,541,100 of the General Long-term Debt Account Group and
Enterprise Funds bonds,respectively, are considered defeased. Within the Enterprise Funds the advance
refunding transaction gave rise to a deferred amount on refunding. The deferred amount on refunding will
be amortized over the remaining life of the old bonds.
II-22
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS, CONTINUED
Overlapping Debt
In addition to the bonds and notes payable,the City is contingently responsible for a proportionate share of
the following overlapping debt as of June 30,2000:
Percentage
Debt Applicable City's share
Unit outstandinQ to the City of debt
General obligation debt $ 59,928,034 100.00% 59,928,034
Limited obligation revenue debt 4,710,000 100.00% 4,710,000
Penobscot County � 1,894,133 2339% 443,038
66.532.16'7 65.081.072
This results in a ratio of City debt to April 1, 1999 assessed valuation of 438%and a ratio of overlapping
debt to April 1, 1999 valuation of 4.41%.
Changes in Long-term Liabilities
During the year ended June 30, 2000,the following changes occurred in liabilities reported in the General
Long-term Debt Account:
Balance Balance
June 30, 1999 Additions Reductions June 30,2000
General obligation debt $21,254,395 2,694,100* 2,038,663 21,909,832
Obligations under capital leases 352,735 29,760 88,992 293,503
Accrued compensated absences 1,360,408 838,070 800,591 1,397,887
Unfunded actuarial liability 31,153,926 334,612 - 31,488,538
Long-term obligation for self insurance 2,149,504 185,914 228.141 2,107,277
� 56:270.968 4.082.456 3.156.387 57.197.037
*Additions include$635,100 of reallocated general obligation debt. The bond proceeds were included
within an Enterprise Fund in the prior year.
J. Contributed Capital
A summary of changes in contributed capital follows:
Contributed capital at June 30, 1999 $ 112,780,162
Add: contributions 4,270,290
Less: depreciation 4.230,501
Contributed capital at June 30,2000 112.819.951
II-23
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
K. Nonexpendable and Expendable Trust Fund Balances
As of June 30,2000,the balances of nonexpendable and expendable trust fund balances were as follows:
Unexpended
Principal income
Nonexpendable:
Cemetery:
Perpetual Care . $391,265 140,169
Parks:
Bass Park - 134,704
Arthur Chapin 14,538 4,709
City Missionary:
Hiram Fogg 1,000 4,061
Louis& Sophia Kirstein 500 2,914
Hiram Oliver 2,000 8,834
Penobscot Association for the Blind 11 9
Lorenzo Sabine 1,000 2,528
Stetson 12,000 24,482
Education:
Bangor High School 200 1,977
French Medal 35,738 32,568
Holton Public School 2,000 3,141
Kirstein Scholarship 5,000 7,966
A.E. Webber,Jr. 1,200 40
Aid for Aged Women:
Charles Adams 10,000 10,643
Thomas Upham Coe 3,000 3,192
Anna H. Pierce 4,000 4,256
Annie Stetson 5,067 5,254
George Stodder 11,000 11,707
Wakefield 10,000 15,618
Other Funds:
Dorothea Miller 507 697
Bangor Fireman's Relief 7,639 1,527
Kirstein City Hospital 507 2,524
Arthur Morey 1,013 6,508
Melvin Murch 5,733 23,217
O'Connell Trust 1,000 9,271
Twitchell Trust - 190
Flora Seavey 1,500 1,965
Charlotte Ha(1 5,984 26,163
Pfaff Trust 811 2,793
II-24
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
Unexpended
Princi�al income
Nonexpendable,continued:
Porter-Pulsifer $ 5,000 15,510
Jewish War Veterans 758 43$
Revolving Loan:
Sophia Kirstein Student Loan 134,176 -
Total nonexpendable trusts 674.147 509.575
Expendable:
Dental Clinic $65,415 11,485
Preservation of Records 38 73
CNF Wheelchair Van 5,271 1,568
Adopt a Park 45,365 8,874
Park Woods Children 664 37
City Forest 133,355 8,327
BFD Imaging 17,432 9,409
Paul Bunyan 100 -
USS Maine Monument 11,449 -
Creative Playground 34,845 446
Kenduskeag Stream Trail 835 175
Total expendable trusts 314,770 40.394
;
II-25
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS,CONTINUED
L. Designated Fund Balance
General Fund
Designated fund balances represent those portions of the General Fund balance specifically designated for
the following at June 30,2000:
2000 1999
Departmental balances carried forward $ 13,748 $ 15,393
School department-regular 570,186 574,146
adult education 36,610 40,342
special revenue 205,172 180,784
school lunch 70,428 74,269
trust and agency 196,036 163,363
Total balances carried 1,092,180 1,048,297
Accrued summer teacher payroll (1,982,328) (1,707,829)
Pooled equipment 875,536 666,620
Bus equipment 68,837 31,679
Fire equipment 1,994 1,468
Improvement 595,591 658,878
Workers' compensation 2,071,633 2,012,057
Self insurance 35,644 137,447
Cameron stadium 106,186 101,111
Landfill closure 76,062 140,840
Cascade park maintenance 9,269 4,960
Demolition 1,133 7,301
PEG capital support 173,367 147,043
Pickering Square development district 119,507 100,000
MSRS Consolidated Plan 240,000 -
Parks&Rec Improvement 109,829 -
Arbitrage rebate- General Fund 30,294 28,846
School department 164,207 156,358
Total General Fund designated fund balance $3.788.941 $3.535.076
Capital Fund
Designated fund balance represents amounts that have been appropriated by council authorization to finance
completion of specific capital projects.
II -26
, CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
OTHER INFORMATION
A. Risk Management
The City is exposed to various risks of loss related to torts,theft of,damage to and destruction of assets,
errors and omissions, injuries to employees,and natural disasters for which the City either carries
commercial insurance or is self—insured. The City currently reports all of its risk management activities in
the General and Enterprise Funds. Claims expenditure, liabilities and reserves are reported when it is
probable that a loss has occurred and the amount of the loss can be reasonably estimated. These losses
include an estimate of claims that have been incurred but not reported.
The City purchases coverage under a number of commercially available insurance policies such as;
commercial general liability,auto,properly damage and crime and dishonesty,each with limits and
deductibles deemed prudent given the risks,cost of coverage and the City's ability to fund certain types of
losses. For those claims covered by commercial insurance, the amount of settlements have not exceeded the
coverage for the years ended June 30,2000, 1999 and 1998. The City is self-insured for its workers'
compensation liability. Reserves are actuarially determined each year to assure funding adequacy. In
addition,the City purchases excess workers' compensation insurance to limit its financial risk.
At June 30,2000,the amount of self-insurance liabilities were $3,052,604. This liability is the City's best
estimate based on available information. Changes in the reported liabilities since July 1, 1998 resulted from
the following:
Workers' All other self-
Compensation insured risks Total
Unpaid claims as of July 1, 1998 $ 2,879,088 156,303 3,035,391
Incurred claims 171,446 - 171,446
Payments (458,557) (27,I16) (485,673)
Changes in estimates and other adjustments 512,550 8,260 520,810
Unpaid claims as of July 1, 1999 3,104,527 137,447 3,241,974
Incurred claims 126,024 - 126,024
Payments (582,113) - (582,113)
Changes in estimates and other adjustments 368,522 (101,803) 266,719
Unpaid claims as of June 30, 2000 $ 3.016.960 35.644 3.052.604
Comprised of:
Current obligations of the General Fund $ 607,890 - 607,890
Enterprise funds 337,437 - 337,437
General Long-term Debt Account Group 2,071,633 35,644 2,107,277
Total 3.016.960 35.644 3.052.604
II-27
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
OTHER 1NFORMATION,CONTINUED
B. Tax Increment Financing Districts
The City has established tax increment financing districts,all of which dedicate a portion of the incremental
increase in real estate and/or personal property taat revenues over staggered twenty year periods for the
following purposes:
B.I.A. Municipal Development District No. 1 -Partially financed$27.5 million dollars of capital
expenditures at manufacturing facilities leased by General Electric Company. The captured assessed value
is returned to General Electric via reduced rental payments at a rate equal to 50%of the increase in personal
property value and 100%of the increase in real estate value. This amounted to$732,595 for the year ended
June 30,2000.
Main Street Municipal Development District-Assisted Penobscot Development Limited Liability
Company in financing the extraordinary costs of acquisition and environmental remediation of the former
Gasworks site on Main Street,ultimately to provided land area necessary for the construction of a 54,000
square foot supermarket in a Community Development project area.
Pickerin�quare Municipal Development District-Assisted Realty Resources Chartered in a major
redevelopment project converted the former Freese's department store building into affordable housing
units.
C. Segmeat Information-Enterprise Funds
There are eight services provided by the City which are financed by user charges; Sewer Utility,Airport,
Park Woods, City Nursing Facility,Parking,Bass Park,Municipal Golf Course and Economic
Development. Selected segment information for the year ended June 30,2000, is as follows:
Sewer Park City Bass Municipal Economic
Utili Airport Woods Nursin Parkin Park Golf Course Development Total
Operating revenues $6,258,193 8,948,169 257,614 2,745,815 638,360 1,226,689 631,760 268,900 20,975,500
Depreciation expense* 1,434,285 5,540,078 94,492 105,368 306,984 255,256 76,611 31,600 7,844,674
Operating income(loss) 2,385,001 (4,322,352) (102,674) (191,954) (131,452) (619,250) 188,406 113,664 (2,680,611)
Operatingtransfers(out) (110,245) - 16,369 623,500 342,248 389,244 . (109,829) 9,514 1,160,801
Net Income(loss) 1,198,954 (3,934,259) (86,305) 417,763 3,821 (286,559) 109,275 711,279 (1,866,031)
Current capital contributions 1,219,280 2,837,778 - - - - - 233,334 4,290,392
Fixed asset additions 2,073,425 4,134,403 - 5,075 59,627 36,005 88,176 206,050 6,602,761
Networkingcapital 3,035,359 5,514,670 (48,420) (827,540) (255,954) (1,658,862) 465,171 487,295 6,711,719
Total assets 62,007,767 135,146,864 1,793,221 1,233,447 3,634,739 2,466,362 1,717,089 3,934,235 211,933,724
Bonds payable 30,983,231 4,710,000 - 713,816 3,512,000 1,577,680 - 1,231,475 42,728,202
Total equity 30,242,449 128,696,328 1,549,498 (589,841) 189,022 (823,567) 1,687,558 2,682,622 163,634,069
*]ncludes depreciation and amortization of$4,230,501 on assets acquired with grants and contributions.
I1-28
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
OTHER INFORMATION,CONTINUED
D. Contingent Liabilities
In August 1992,the City received a"Notice of Potential Liability/Reyuest for Information"from the Maine
Department of Environmental Protection(DEP) in connection with the DEP's efforts to clean up one of five
uncontrolled hazardous waste sites formerly operated by the company the City used for the disposal of
waste oil during the 1960s— 1980s. The City paid $42,029,a portion of which will be reimbursed by the
State of Maine, in settlement of this site and released from all liability.
In February 1998,the City was served Notification of Potential Liability by the Federal Environmental
Protection Agency(EPA) in connection with that agency's efforts to clean up a disposal site. The City is
among approximately 500 potentially responsible partied. In September 2000,the City signed a consent
decree with the EPA to settle EPA's past costs at the site. Under this decree,the City is obligated to pay a
total of$76,557. Negotiation of the final remedy will begin during the first half of 2001. At this point it is
not possible to estimate the cost of designing and implementing the final remedy.
The City is a party to various other lawsuits. Although the outcome of these lawsuits is not presently
determinable, it is the opin,ion of the City's counsel that resolution of these matters will not have a material
adverse effect on the financial condition of the City.
E. Retirement
The City of Bangor provides retirement pensions for its emp(oyees through a number of vehicles, including
a defined benefit pension plan, defined contribution plan and social security.
Deiined Benefit Pension Plan
Description of the Plan—The City contributes to the Maine State Retirement System Consolidated Plan,a
cost sharing multiple-employer retirement system established by the Maine State legislature. The Maine
State Retirement System provides retirement and disability benefits, annual cost-of-living adjustments,and
death benefits to plan members and beneficiaries. The authority to establish and amend benefit provisions
rests with the state legislature. The Maine State Retirement System issues a publicly available financial
report that includes financial statements and required supplementary information for the Consolidated Plan.
That report may be obtained by writing to Maine State Retirement,46 State House Station,Augusta,
Maine 04333-0046 or by calling 1-800-45]-9800.
Fundin Policy—Plan members are required to contribute 6.5%of their annual covered salary and the City
is required to contribute an actuarially determined rate. The current rate ranges from 330%to 7.70%of
annual covered payroli. The contribution rates of plan members and the City are established and may be
amended by the Maine State Retirement System Board of Trustees. The City's contributions to the Maine
State Retirement System Consolidated Plan for the years ended June 30,2000, 1999 and 1998 were
$981,064, $1,580,742 and$2,035,590,respectively,equal to the required contributions for each year.
II-29
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
OTHER INFORMATION, CONTINUED
Unfunded Actuarial Liabilitv—Upon joining the consolidated plan on July 1, 1997,the City's initial
unfunded unpooled actuarial liability(IUUAL)was calculated. The NUAL represents the remaining
amount of the pension liability upon transitioning to the consolidated plan from a participating local district
(PLD). The City's IUUAL at the date of transition is being amortized over a period of 28 years,with
negative amortization occurring within the first years. At June 30,2000,the remaining balance was
$31,488,538 and is being reported in the City's General Long-term Debt Account Group in accordance
with Government Accounting Standards Board Statement No. 27,Accounting for Pensions by State and
Local Government Employees. For the years ended June 30,2000, 1999 and 1998,the City made payments
toward its IUUAL of$2,076,252, $1,995,036 and$1,882,104,respectively.
Teachers Group
Description of the Plan-All schoo)teachers,plus other qualified educators,participate in the Maine State
Retirement System's teacher group. The teacher's group is a cost-sharing plan with a special funding
situation,established by the Maine State legislature. The Maine State Retirement System provides
retirement and disability benefits,annual cost-of-living adjustments,and death benefits to plan members
and beneficiaries. The authority to establish and amend benefit provisions rests with the state legislature.
The Maine State Retirement System issues a publicly available financial report that includes financial
statements and required supplementary information for the Teacher's Group. That report may be obtained
by writing to Maine State Retirement System, 46 State House Station,Augusta,Maine 04333-0046 or by
calling 1-800-451-9800.
Funding Policv—Plan members are required to contribute 7.65%of their compensation to the retirement
system. The State of Maine Department of Education is required, by the same statute,to contribute the
employer contribution,which amounts to$3,585,477 (19.12%)for the fiscal year 2000. This amount has
been reported as an intergovernmental revenue and education expenditure in the GAAP basis financial
statements(Exhibit 2). There is no contribution required by the school department except for federally
funded teachers, for which they contributed 19.12%of their compensation. This cost is charged to the
applicable grant.
Historical Trend Information—As June 30, 1995 was the first year on the Consolidated Plan and
Participating Local Districts did not enter the Plan until 1996,trend information is not relevant. If
available,this information would be useful in assessing the pension plan's accumulation of sufficient assets
to pay pension benefits as they become due.
Defined Contribution Plan �
The City provides pension benefits for certain full-time employees through both 401(a)and 457 Deferred
Compensation Plans(DCP)administered by ICMA/RC. In a DCP,benefits depend solely on amounts
contributed to the plan plus investment earnings. Participation for fixed-term contract employees is
provided in lieu of the defined benefit plan through the Maine State Retirement System. Covered
employees are eligible to participate and are fully vested from the date of employment. The City
contributes at various rates depending upon employment contracts. The contribution rates vary from 10%-
15%of annual earnings. The covered payroll and City contributions in fiscal year 2000 approximated
$513,635 and $56,466,respectively.
1I-30
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
OTHER INFORMATION,CONTINUED
Deferred Compensation Plan
The City offers its employees a deferred compensation plan created in accordance with Internal Revenue
(IRC) Section 457. The plan permits participating employees to defer a portion of their salary until future
years. The deferred compensation is not available to employees until termination,retirement, death,or
unforeseeable emergency:
Social Security
The City does not have a section 218 agreement to provide full social security coverage to its employees.
The City does provide full social security coverage to part-time, seasonal and temporary employees under
the Omnibus Budget Reconciliation Act of 1990, and Internal Revenue Service regulations,which became
effective July 1, 1991.
F. Landfill Closure and Postclosure Care Costs
Federal regulations(Subtitle `D')stipulate that landfills which have not accepted municipal solid waste in.
recent years are exempt from specific postclosure care and monitoring requirements, provided that such
landfills are closed prior to October 8,1994, and in accordance with applicable State regulations, subject to
certain construction requirements. In June 1994,the Maine State Legislature approved new landfill closure
regulations. These regulations included a Reduced Closure Option provision,which allowed qualifying
low risk landfills to be closed prior to October 8, 1994, if federal construction standards were met,with no
further requirements for specific postclosure and maintenance programs. The City's Kittredge Road
landfill qualified for the Reduced Closure Option and is in full compliance with its provisions. As of June
30,2000,the landfill closure has been completed. It is estimated that postclosure costs associated with it
will be minimal.
G. Subsequent Events
In December 1996,the City authorized the issuance of up to$5,000,000 in general obligation bonds,the
proceeds of which are to be used as a 45%match to a grant awarded by the Environmental Protection
Agency(EPA). The gross proceeds of the grant and the debt will be used to continue the City's
compliance with an EPA consent decree.governing the combined sewer overflow project. The City expects
to issue$1,050,000 of the remaining authorized amount within the next fiscal year. To date$1,664,175 has
not been issued.
In November 2000,the City authorized the issuance of up to$5,961,000 in general obligation bonds.
Proceeds will be used to fund various projects such as; parking facility expansion/rehabiliation,waterfront
infrastructure improvements, school renovations and acquisition of motor pool vehicles as well as other
building and infrastructure improvements. Included within the authorization was $1,300,000 for
renovation of Fruit Street school. It is anticipated that only$300,000 in general obligation bonds will be
issued by the City for this project. The balance will be funded as follows; a$436,000 loan from the State
of Maine,which will be forgiven and a$564,000 interest free loan from the State of Maine.
II-31
CITY OF BANGOR,MAINE
Notes to Financial Statements,Continued
OTHER INFORMATION,CONTINUED
In December 2000,the City authorized the issuance of up to$4,500,000 in general obligations bonds and or
notes in anticipation thereof. The proceeds of will be used to fund an addition to Bangor High School.
At the outset of fiscal year 2000,the City Council directed that the Bangor City Nursing Facility,currently
owned and operated by the City,be divested and transferred to a private,not-for-profit corporation.
Accordingly,the Council appointed a board of directors and directed City staff to take those steps
necessary to effect this transaction. Those events are substantially complete,with transfer to occur on
January 1,2001. Under the terms of this transfer,the City has agreed to several financial arrangements.
These include the following:
Assumption of$666,718 in general obligation debt,representing all the facility's long term bonded
debt outstanding at the time of transfer;
Assumption of$1,960,144 in initial unpooled unfunded actuarial liability under the Maine State
Retirement System;
Responsibility for providing$2.2 million for either physical plant remediation or replacement;
Provision of a working capital line of credit up to $400,000 over the new corporation's first four
years of operation.
The City Charter reyuires maintaining the City's undesignated/unreserved fund balance at between 5%and
10%of the previous year's expenditures, net of debt service. As policy,the City has targeted 7.5%as a
reasonable balance. At June 30,2000,this balance exceeded the City policy of 7.5% by$2,572,281.
Further City policy prescribes uses for these excess funds,and the Council has been presented with a series
of options for the surplus funds. Thus far, Council has appropriated$400,000 each for the following
purposes; challenge grant in support of the University of Maine's efforts to establish an art gallery in the
downtown area and to establish a temporary reserve to the support the cash flow needs of the City Nursing
Facility,which is being spun off as a private,not-for-profit corporation. In addition, $250,000 has been
appropriated for the purpose of completing an environmental assessment of the Penobscot river and
adjacent area and to pursue legal remedies.
II-32
/ i
� � General Fund
The General�und is used to account for resources traditionally associated with the government,
which are not required legally or by sound financial management,to be accounted for in another
` fund.
,,,�,�
1
Schedule A-1
CITY OF BANGOR,MAINE
General Fund
Comparative Balance Sheet
June 30,2000 and 1999
2000 1999
ASSETS
Cash $ 610,224 $ 908,583
Investments 11,242,859 9,163,342
Receivables:
Taxes 2,660,033 2,312,134
Accounts(net of allowance of$281,946 912,727 548,472
and$286,226,respectively)
Interfund loans 2,685,560 3,292,560
Intergovernmental 1,759,818 1,208,339
Inventory,at cost 34U,001 323,700
Prepaid items 126,885 27,974
Total assets $20,338,107 $ 17,785,104
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable $ 869,887 $ 1,254,759
Accrued wages and benefits payable 2,676,881 2,526,365
Workers'compensation 607,890 607,890
Deferred revenue 2,327,113 2,200,129
Taxes received in advance 80,368 29,707
Totalliabilities 6,562,139 6,618,850
Fund equity
Reserved for:
Encumbrances 410,720 475,962
Prepaid items 126,885 27,974
Noncurrent interfund advance 2,370,000 2,885,000
Unreserved:
Designated 3,788,941 3,535,076 .
Undesignated 7,079,422 4,242,242
Total fund equity 13,775,968 11,166,254
Total liabiliries and fund equity $20,338,107 $ 17,785,104
II -33
!
. /
�
Schedule A-2
CITY OF BANGOR,MAINE
General Fund
Schedule of Revenues,Expenditures and Changes in Undesignated
Fund Balance--Budget and Actual—Budgetary Basis
For the fiscal year ended June 30,2000
Balances Variance
Carried
7/1l99 Budget Actual Surplus Carried
Revenues
Taxes
Real and personal property $ - $ 33,739,163 $ 33,893,540 $ 154,377 $ -
Change in deferred property tax - - (43,332) (43,332) -
Tax increment financing district - (732,595) (732,595) - -
Payment in lieu of taxes - 107,700 107,700 - -
Excise - 3,049,000 3,592,979� 543,979 -
Interest on delinquent taxes - 303,500 218,8840 (84,616) -
Total taxes - 36,466,768 37,037,176 570,408 -
Intergovernmental
State revenue sharing - 3,000,000 3,559,200e 559,200 -
School subsidy - 9,870,197 9,871,197' - 1,000
Other-municipal - 1,849,976 1,820,675° (29,301) -
Other-school - 2,104,071 3,685,094' - 1,581,023
Total intergovernmental - 16,824,244 18,936,166 529,899 1,582,023
Otherrevenue
Licenses and permits - 362,536 393,354° 30,818 -
Charges for service-municipal - 4,895,428 5,456,326G 560,898 -
Charges for service-school - 3,463,436 2,690,8554 - (772,581)
Fines,forfeits and penalties - 27,950 19,178 (8,772) -
Revenue from use of and property-municipal - 722,630 933,427 210,797 -
Total charges for services - 9,471,980 9,493,140 793,741 (772,581)
Total revenues - 62,762,992 65,466,482 1,894,048 809,442
Continued on next page _
II-34
Schedule A-2 (con't)
CITY OF BANGOR,MAINE
General Fund
Schedule of Revenues,Expenditures and Changes in Undesignated
Fund Balance—Budget and Actual—Budgetary Basis
For the fiscal year ended June 30,2000
Balances Variance
Carried
7/1/99 Budget Actual Surplus Carried
Expenditures
General govemment
Council - 36,341 41,357 (5,016) -
Executive - 652,268 654,799 (2,531) -
Human resowces - 105,704 102,633 3,071 -
City Clerk - 326,035 307,934 18,101 -
Assessing - 259,044 263,745 (4,701) -
Legal - 214,680 187,249 27,431 -
Finance - 1,138,695 1,194,219 (55,524) -
Insurance - 89,243 63,558 25,685 -
Planning,econ dev,code enforcement - 688,504 666,048 22,456 -
Total general govemment - 3,510,514 3,481,542� 28,972 -
Public safety
Police - 4,521,909 4,610,211� (88,302) -
Fire - 4,939,437 4,917,724s 21,713 -
Total public safety - 9,461,346 9,527,935• (66,589) -
Health,welfare and recreation
Health and welfare - 1,704,643 1,652,971e 51,672 -
Parks and recreation - 962,592 971,887. (9,295) -
Total health,welfare and recreation - 2,667,235 2,624,858� 42,377 -
Public buildings and services - 7,375,050 7,073,693 i 301,357 -
Continued from previous page
II-35
Schedule A-2 (con't)
CITY OF BANGOR,MAINE
General Fund
Schedule of Revenues,Expenditures and Changes in Undesignated
Fund Balance-Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000
Balances Variance
Carried
, 7/1/99 Budget Actual Surplus Carried
Expenditures,continued
Otheragencies
County tax - 1,273,319 1,273,319• - -
Private school services - 138,080 135,005 3,075 -
Downtown Development District - 41,071 41,071 - -
Public library - 961,928 961,920� 8 -
Other agencies 15,393 87,500 89,145 - 13,748
Total other agencies 15,393 2,501,898 2,500,460 3,083 13,748
Education
' Regular 574,146 28,520,942 28,511,920 - 583,168
Adult education 40,342 543,725 568,072 - 15,995
Schoollunch 74,269 1,068,501 1,001,493 - 141,277
Special revenue 180,784 1,166,617 1,472,981 - (125,580)
Trust and agency 163,363 1,544,584 1,626,897 - 81,050
Total education 1,032,904 32,844,369 33,181,363• - 695,910
Other appropriations
Pensions and other fringe benefits - 1,447,898 1,406,075'� 41,823 -
' Debtservice - 1,228,978 1,214,661r 14,317 -
Tax increment financing payments - 226,367 139,340 87,027 -
Contingency - - - - -
Tofal other appropriations - 2,903,243 2,760,076 143,167 -
Total expenditures 1,048,297 61,263,655 61,149,927 452,367 709,658
Excess(deficiency)of revenues over
expenditures (1,048,297) 1,499,337 4,316,555 2,346,415 1,519,100
Continued from previous pages
II-36
Schedule A-2 (con't)
CITY OF BANGOR,MAINE
General Fund
Schedule of Revenues,Expenditures and Changes in Undesignated
Fund Balance--Budget and Actual—Budgetary Basis
For the fiscal year ended June 30,2000
Balances Variance
Carried
7/1/99 Budget Actual Surplus Carried
Other financing sources(uses)
Appropriaton from designated fund balance - 497,387 21,550 (48,917) (426,920)
' Appropriaton to designated fund balance - , (240,000) (240,000) - -
Sales of assets - 1,000 25,682 24,682 -
Transfers to other funds - (420,621) (420,621) - -
Transfers from other funds - 46,000 46,000 - -
Operating subsidies - (1,383,103) (1,383,103) - -
Total other fmancing sources(uses) - (1,499,337) (1,950,492) (24,235) (426,920)
Excess(deficiency)of revenues over
expendihues and other fmancing
sources and uses $(1,048,297) $ - $ 2,366,063 2,322,180 $ 1,092,180
Undesignated fund balance,July 1 4,242,242
Appropriation from designated fund balance 515,000
Undesignated fund balance,June 30 $ 7,079,422
Continued from previous pages
II-37
..
���Special Rev�enue Funds
Special Revenue Funds are used to account for specific revenues that are legally restricted to
expenditures for particular purposes.
Community Devefopment Block Grant- Accounts for federal grants obtained and expended
under the Housing and Cornmunity Development Act of 1974, as amended,for the development
of viable urban communities.
Urban Development Action Grant—Accounts for federal grants obtained and expended under
the Housing and Community Development Act of 1974,as amended,for the redevelopment of
the downtown commercial core of the City.
Economic Incentive Revolving Loan Fund—Accounts for low interest loans to businesses
within the City of Bangor for establishment,expansion or redevelopment purposes. 7ob creation
or retainage,principally for low or moderate income persons, is a major factor in loan approval.
Funding is provided from the U.S. Department of Housing and Urban Development Community
Development Block Grant program.
. Grant Fund—Accounts for federal and state grants that are legally restricted to expenditures
allowable by the grantor agency.
Schedule B-1
- CITY OF BANGOR,MAINE
Special Revenue Funds
Combining Balance Sheet
June 30,2000
(with comparative totals for June 30,1999)
Economic
Community Urban Incentive
Development Development Revolving Grant Totals
Block Grant Action Grant Loan Fund Fund 2000 1999
ASSETS
Cash $ 93 $ 3,097 $ 147,535 $ 437 $ 151,162 $ 71,898
Receivables:
Accounts - - - 2,325 2,325 1,629
Loans(net of allowance of$130,131) 2,954,382 985,000 174,698 - 4,114,080 4,162,752
Intergovernmental 120,579 - - 108,332 228,911 179,547
Prepaid items 22,238 - - - 22,238 42,881
Total assets $ 3,097,292 $ 988,097 $ 322,233 $ 111,094 $ 4,518,716 $ 4,458,707
LIABILI'TIES AND FUND EQUITY .
Liabilities
Accounts payable $ 44,697 $ - $ - $ 26,824 $ 71,521 $ '12,636
Deferred revenue 2,954,382 985,000 174,698 - 4,114,080 4,162,752
Due to rehabilitaiton recipients 34,674 - - - 34,674 64,761
Interfund loans payable 435,348 - - 85,000 520,348 371,000
Totalliabilities 3,469,101 985,000 174,698 111,824 4,740,623 4,671,149
Fund equity
Reserved for:
Encumbrances 71,226 - - 189 71,415 47,159
Prepaid items 22,238 - - - 22,238 42,881
Unreserved:
Undesignated (465,273) 3,097 147,535 (919) (315,560) (302,482)
Total fund equity(deficit) (371,809) 3,097 147,535 (730) (221,907) (212,442)
Total liabilities and fund equity $ 3,097,292 $ 988,097 $ 322,233 $ 111,094 $ 4,518,716 $ 4,458,707
II-38
Schedule B-2
CITY OF BANGOR,MAINE
Special Revenue Funds
Combining Statement of Revenues,Expenditures and Changes in Fund Equity
For the fiscal year ended June 30,2000
Economic �
Community Urban Incentive
� Development Development Revolving Grant
Block Grant Action Grant Loan Fund Fund Total
Revenues
Intergovernmental $ 1,198,305 $ - $ - $ 3,059,154 $ 4,257,459
Charges for services - 2,862 - 311,979 314,841
Program income 724,991 - 73,145 - 798,136
Other 3,427 IS 4,095 - 7,537
Totalrevenues 1,926,723 2,877 77,240 3,371,133 5,377,973
Expenditures
Acquisition of real property 279,182 - - - 279,182
Public works facilities site improvemen 162,685 - - - 162,685
Business development assistance 91,683 - - - 91,683 � �
Disposition of real property 11,797 - - - 11,797
Administration 267,744 - - - 267,744
Rehabilitation and preservation activiti 1,014,511 - - - 1,014,511 .
Planning 117,528 - - - 117,528
Personnel - - - 405,816 405,816
Equipment - - - 7,060 7,060
Other 60,832 - - 2,066,73? 2,127,569
Bus operations - - - 892,349 892,349 �
Total expenditures 2,005,962 - - 3,371,962 5,3�7,924
Excess(deficiency)of revenues
over expenditures (79,239) 2,877 77,240 (829) 49
Other financing sources(uses)
Transfers to other funds (9,514) - - - (9,S l4)
Transfers from other funds - - - - -
Total other financing use (9,514) - - - (9,514)
Excess(deficiency)of revenues over
expenditwes and other fmancing
sources and uses (88,753) 2,877 77,240 (829) (9,465) �
i
Fund equity(deficit),July 1 (283,056) 220 70,295 99 (212,442)
Fund equity(deficit),June 30 $ (371,809) $ 3,097 $ �147,535 $ (730) $ (221,907)
II-39
�
. �
,',,
, ..
� Capital Projects Fund
' ` The Capital Projects Fund is used to account for the acquisition and construction of major capital
facilities other than those financed by proprietary and similar trust funds.
.
,
,
Schedule C-1
CITY OF BANGOR,MAINE
Capital Projects Fund
Comparative Balance Sheet
June 30,2000 and 1999
2000 1999
ASSETS ,
Cash $ 371,924 $ 328,637
Receivables:
Accounts - 15,450
Deferred special assessments 30,130 30,130 ,
' Intergovernmental 42,303 15,959.
Investment ofbond proceeds 1,063,621 1,191,051
Total assets $ 1,507,978 $ 1,581,227
LIABILITIES AND FUND EQUITY
Liabilities
Accounts payable $ 132,921 $ 342,707
Amounts held for others - 14,979 ,
Total liabilities 132,921 357,686 �
Fund equity
Reserved for encumbrances 201,362 254,778
Unreserved:
, ,
Designated 931,208 758,358
Undesignated:
Deferred special assessments 30,130 30,130 �
Future construction-General Fund 91,889 78,174
Future construcdon- School department 120,468 102,101
Total fund equity 1,375,057 1,223,541
Total liabilities and fund equity $ 1,507,978 $ 1,581,227 ^
r
II-40
Schedule C-2
_ CITY OF BANGOR,MAINE
Capital Projects Fund
� Statement of Revenues,Expenditures,and Changes in Fund Equity
For the fiscal year ended June 30,2000
� Revenues
Intergovernmental $ 731,870
Revenue from use of money and property 228,389
' Other 64,354
, Total.revenues 1,024,613
Expenditures �
Capital additions 4,663,599
Landfill closure and postclosure care costs 154,764
Total expenditures 4,818,363
Deficiency of revenues over expenditures (3,793,750)
Other financing sources(uses)
� General obligation debt 2,059,000
Reallocation of general obligation debt 635,100
Transfers to other funds (78,150)
Transfers from other funds 1,329,316
ITotal other financing sources 3,945,266
Excess of revenues over expenditures and
� other financing sources 151,516
Fund equity,July 1 1,223,541
Fund equity,June 30 $ 1,375,057
` II-41
Enterprise Funds
Enterprise Funds are used to account for operations that are financed and operated in a manner '
similar to private business enterprises. The intent of the government is to have the costs of .
providing goods or services to the general public financed or recovered primarily through user
charges. The government has decided that periodic determination of net income is appropriate •
for accountability purposes.
Sewer Utility Fund—This fund accounts for the costs of construction and operation of the �
Sewage Treatment Plant,the City sewer.system, and sewer operation activities,and is self—
supported through sewer user fees: ` - �
Airport Fund=This fund accounts for the operation of Bangor International Airport. The
principal sources of revenues are landing fees and the sale of aviation fueL Other revenue
sources include lease paymen"ts for the use of terminal space and non-aviation industrial �
buildings. .
Park Woods—This fund accounts for the rental of 60 units of surplus housing received from the �
federal government pursuant to the McKinney Homeless Assistance Act. The principal source of
revenue is rental income.
, . .
City Nursing Eacility—This fund accounts for the operation of a City-owned nursing home.
This is a 61bed facility,and principal revenue sources are Medicaid and rental income from
excess space. The current facility was the base hospital at the former pow Air Fotce Base,which �
closed in 1969. ' '
Parking Fund—This fund accounts for the operation of fhe City-owned parking lots and the
Pickering Square garage. Revenue sources include monthly lease payments for parking spaces, ,�
hourly/daily parking fees, and fines and waiver fees for parking violations. Certain of these
facilities are operated under a private management contract. -
Bass Park Fund—This fund accounts for the operation of the Bangor auditorium,Bangor Civic
Center,and Bangor State Fair. Frincipal sources of revenue are admissions,concession sales,and
rentals. The fund is named after the Bass family,which bequeathed the property to the City for
recreational purposes.
Municipal Golf Course—This fund accounts for the operation of a 27 hole municipal golf
course. Principal revenue sources are season memberships and daily green fees.
Economic Development Fund—This fund accounts for the operation and development of
properties acquired by the City. Its purpose is to promote economic growth within the City. The •
principal source of revenue is rental income.
�
�.
Schedule D-1
CITY OF BANGOR,MAINE
Enterprise Funds
Combining Balance S6eet
June 30,2000
(with comparative totals for June 30,1999) .
Sewer Ciry Bass Municipal Economic
. Utility Airport Park Norsing Parking Park Golt Development
` ' Fand Fond Woods Facflity Fund Fand Coarse Fund 2000 1999
ASSE7'S
- Current assets � ,
Cazh $ 686,439 $ 66,650 $ 2,242 E 40,325 $ 107,804 $ 14,962 $ 140,568 S 577,929 S 1,636,917 $ 2,078,300
'_ Invatmenu 3,068,762 5,564,484 - 13,353 141,844 - 353,503 - 9,141,946 8,036,935
Accounts Receivable 1,623,933 1,638,095 - 326,843 6,14I 108,336 211 - 3,703,559 . 3,584,150
� � Lessallowanceforuncollectibleaccounu (22,601) (83,675) - - (73,983) (4,790) � (27,110) - - (212,159) (310,708)
Net accounts receivable 1,601,332 1,554,420 - 252,860 1,351 8i,226 211 - 3,491,400 3,228,465
� Interfimdloans receivable 242,848 - - � . - - - - 242,848 _ '
Due from other govemmenu 264,856 20,000 - - - - - - 284,856 263,704
, Due from water distrid � 131,564 - - - - . - � - ]31,564 131,219
Inventories,at cost - 72,1 i7 - 13,363 - 6,374 - - 9I,854 114,070
Prepaiditems � 24,602 159,394 � - 700 - 53,985 420 8,192 247,293 64,025
Total cuirent assets 6,020,401 7,437,065 2,242 320,601 250,999 156,547 494,702 586,12I 15,268,678 13,961,695
( �P�Y
- Land 683,895 - - 39,575 - 228,572 27,767 - 979,809 979,809
Buildings,plant and equipmrnt 32,132,111 - 2,255,724 3,004,723 - 6,033,759 1,218,675 2,366,886 47,011,878 46,821,281
� Pipelines and mains 35,607,955 - - - - - - - 35,607,955 32,599,450
� AircraftoperationalassNs - 188.576,189 - - - - - - 188,576,I89 I93,8�3,218
Pazking structures - - - - 6,889,442 - - - 6,889,442 6,459,608
ConsWction in process 5,477,921 389,431 - 39,095 - 9,332 .541,871 1,187 6,458,837 8,452,025
� 73,901,882 188,965,620 2,255,724 3,083,393 6,889,442 6,271,663 1,788,313 2,368,073 285,524,110 289,I25,391 .
Lasaccumulateddepreciation (19,404,434) (74,542,485) (479,745) �(2,505,893) (3,513,437) (4,280,191) � (565,926) (101,788) (105,393,899) (107,252,122)
. Net property,Plant and equiptnent 54,497,448 114,423,135 1,775,979 577,500 3.376.005 �,991.472 1,222,387 2,266,285 180,13Q21 I I81,873,269
�� Otherassets �
Investmaus - 10,613,8I0 - - - - - - I0,613,810 11,162,302
I
� Loans receivable � - 1,968,415 - - - - - 146,164 2,114,579 2,242,165
Deferted special assessments � 101,49I - - - - - - - IOi,491 112,864
� Investrnentofbondproceeds 1,160,142 539,486 - 335,346 �,'735 318,343 - 322,157 2,683,209 3,046,857
Deposits I5,000 I5,000 I5,000
-. Investmart held by bond trustee - - - - - - - - - 30,317
Operating rights(net of eccumulated
amortiiation of S1,135,047 in 2000 and
$1,087,917in 1999) - 164,953 - - - - - - 164,953 212,083
Bond issuance cosu(net of accumulated .
arnonizarion of$186,777 in 2000 and
$166,024 in 1999) 228,285 - ' ' ' - - - - - 228,285 249,038
Property held for raale - - - - - - - 613,508 613,508 1,395,327
� Totalassets E62,007,767 $�135,146,864 $ 1,793,221 E 1,233,447 $3,634,739 $2,466,362 $ 1,717,089 $3,934,235 $211,933,724 E214,300,917
f
^
' Continued ou facing page
II-42
c
Schedule D-1(con't)
CITY OF BANGOR,MAINE
Enterprise Funds
Combining Balance Sheet
June 30,2000
(with comparative totals for June 30,1999)
Sewer Ciry � Bass Municipai Economic �
Utility Airport Park Nursing Parking Park Golf Development �
Fund Fund Woods Facility Fund Fund Course Fund 2000 1999
� LIABILITIES AND FUND EQU[TY
Current liabilities
Acwunts payable $ 297,659 S 890,749 $ 963 $ 81,588 $ 991 $ 33,654 $ 16,091 $ 4,957 $ 1,326,652 $ 1,506,374
Accrued wages and ben�ts payable 33,018 153,436 3,432 78,338 4,751 2Q470 11,531 - 304,976 348,066
Accruedinterest 340,947 72,621 - 4,245 67,240 23,512 - 15,181 523,746 576,301
Accrued compensated absences 33,810 178,719 5,779 40,888 575 20,134 1,909 - 281,814 261,468
Workers'compensation 29,103 94,296 - 91,370 2,772 10,000 - - 227,541 243,195 (
Deferced revenue - 253,163 - 13,009 71,983 17,651 - - 355,806 436,911
Interfundpayables - - 40,488 783,217 - 1,584,355 - - 2,408,060 2,921,560
General obligation debt payabie 2,250,505 - - 47,299 358,641 103,160 - 78,688 2,838,293 3,021,433 �
Limited revenue obligation debt payable - 245,000 - - - - - - 245,000 230,000
Otherliabilities - 34,411 - 8,187 - 2,473 - - 45,071 4I,797
Total curtent liabilities 2,985,042 ],922,395 50,662 1,148,141 506,953 1,815,409 29,531 98,826 8,556,959 9,593,105 ��
Long-term liabilities
'
Wodcers'compensation 30,897 63,141 - 8,630 7,228 - - - 109,896 241,385
General obligation debt payable 28,732,726 - - 666,517 3,153,359 1,474,520 - 1,152,787 35,179,909 38,614,988 .
Limited revenue obligation debt payable - 4,465,000 - - - - - - 4,465,000 4,710,000
Deferred amount on refunding (267,585) - - - (234,537) - - - (502,122) (585,866)
Arbitroge payable 113,913 - - - 12,7I4 - - - 126,627 120,568
Other long-[erm liabilities 17Q325 - 193,061 - - - - - 363,386 376,926
Total long-tertn liabilities 28,78Q276 4,528,I41 193,061 675,147 2,938,764 1,474,520 - 1,152,787 39,742,696 43,478,001
Totalliabilities 31,765,318 6,450,536 243,723 1,823,288 3,445,717 3,289,929 29,531 1,251,613 48,299,655 53,071,106
Fund equity (deficit) '
Contributed capital: �
City 3,930,043 - - 40,519 - 135;995 - - 4,106,557 4,255,674
Federal,state and other 7,225,364 94,946,314 1,608,626 38,2I6 72,500 466,702 7,493 1,627,506 105,992,721 ]05,685,997
Customers 2,720,673 - - - - - - - 2,720,673 2,838,491
Totalcontributedcapital 13,876,080 94,946,314 1,608,626 78,735 72,500 602,697 7,493 1,627,506 112,819,951 ll2,780,162 _ •
Retained eamings
, Reserved for:
Capital expendiNres 68,970 1,229,200 - - - - 1,739 - 1,299,909 2,068,689
Debt service - 539,308 - - - - - - 539,308 539,308
UnreserveA 16,297,399 31,981,506 (59,128) (668,576) 116,522 Q,426,264) 1,678,326 1,055,116 48,974,901 45,841,652
Totalretainedeamings 16,366,369 33,750,014 (59,126) (668,576) 116,522 (I,426,264) 1,680,065 1,055,116 50,814,118 48,449,649
Totalfundequity 30,242,449 128,696,328 1,549,498 (589,841) 189,022 (823,567) 1,687,558 2,682,622 163,634,069 161,229,811 -
Total liabilities and fund equity $62,007,767 $135,146,864 $1,793,221 $1,233,447 $3,634,739 $2,466,362 $1,7I7,089 $3,934,235 $2I1,933,724 $214,300,917 _
1
e
Continued from previous page �
� iI-43
V
Schedule D-2
CITY OF BANGOR,MAINE
Enterprise Funds
Combining Statement of Revenues,Expenses and Changes in Retained Earnings
For the fiscal year ended June 30,2000
Sewer City Bass Municipal Economic
� Utitiry Airport Park Nursing Parking Park Golf Development
Fund Fund Woods Facility Fund Fund Course Fund Totsl
Operating revenues
Charges for services $6,258,193 $ 8,948,I69 $ 257,614 $2,745,815 $ 638,360 $1,226,689 S 631,760 $ 268,900 $20,975,500
� � Operating ezpenses
Operating ezpenses otherthan - �
depreciation and amortization 2,438,907 7,730,443 265,796 2,832,401 462,828 1,590,683 366,743 ]23,636 15,811,437
j Depreciation and amortization on asseis:
� Acquired with own funds 1,198,961 1,800,274 8,501 97,041 299,734 121,899 76,056 11,707 3,614,173
Acquired with grants and confibutions 235,324 3,739,804 85,991 8,32� 7,250 133,357 555 19,893 4,230,501
�` Totaloperatingexpenses 3,873,192 13,2'I0,521 360,288 2,937,769 769,812 1,845,939 443,354 155,236 23,656,111
Operatingincome(loss) 2,385,001 (4,322,352) (102,674) (191,954) (131,452) (619,250) 188,406 113,664 (2,680,611)
j Nonoperating revenue(expenses)
Interest income 261,405 701,286 - 19,584 10,439 16,900 30,698 2'),073 1,067,385
- Interest expense (1,337,66� (301,132) - (33,367) (217,414) (73,453) - (42,434) (2.005,467j
Miscellaneous income(expense) 460�' (12,061) - - - - - 603,462 591,861
Total nonoperating revenue(expenses) (1,075,802) 388,093 - (13,783) (206,975) (56,553) 30,698 588,101 (346,221)
Net income(Ioss)before operating transfers 1,309,199 (3,934,259) (]02,674) (205,737) (338,427) (675,803) 219,104 701,765 (3,026,832)
Transfersto otherfunds (110,245) - - - (11,742) - (109,829) - (231,816)
Transfers from other funds - - - - - - - 9,514 9,S I4
Operating subsidy - - 16,369 623,500 353,990 389,244 - - 1.383,103
Net income(Ioss) 1,198,954 (3,934,259) (86,305). 417,763 3,821 (286,559) ]09,275 711,279 (],866,031)
� � Add depreciation and arnortization on fized
assets acquired with grants and wntributions 235,324 3,739,804 85,991 8,327 7,250 133,357 555 19,893 4,230,501
Increase(decrease)in retained earnings 1,434,278 (194,455) (314) 426,090 11,071 (153,202) 109,830 731,172 2,364,470
Retainedeamings(deficit),Julyl 14,932,09I 33,944,469 (58,814) (1,094,666) I05,452 (1,273,062) 1,570,235 323,944 48,449,649
Retainedeamings(deficit),Iune30 $16,366,369 $33,75Q014 $ (59,128) $ (668,576) $ 116,523 $(1,426,264) $1,68Q065 $1,055,116 $50,814,119
e
II-44
Schedule D-3
CITY OF BANGOR,MAINE
Enterprise Funds
Combining Statement of Cash F7ows
For the 6sca1 year ended June 30,2000 ,
. Sewer Ciry Bass Municipal Economic
Utility Airport Park Nursing . Parking Park Golf Development P
Fund Fund Woods Facitity Fund Eund Course Fund Total i �„
Cash flows from operating activities
Cash received from customers $6,302,295 $ 8,622,170 $ 257,674 $2,938,619 $ 634,463 $1,202,332 S 631,549 $ 268,900 $20,858,002
Cash paid to suppliers for goods and services (1,484,195) (3,648,629) (217,24� (552,750) (340,463) (950,739) (208,548) (107,537) (7,510,108)
Cash paid to employees for services (1,012,865) (4,218,578) (58,089) (2,251,007) (139,008) (640,683) (188,529) (28,221) (8,536,980)
Nct cash provided by(used in)operating '
ectivities 3,805,235 754,963 (1'7,662) 134,862 154,992 (389,090) 234,472 133,142 4,810,914
Cazh flows from noncapital financing activities , �
Interfund loans(repayments) - - 3,500 (649,000) (4,712) 130,000 - - (518,212)
Transfers out p 10,245) - - - - - (109,829) - (220,074) �
Operating subsidy received - - 16,369 623,500 353,990 389,244 - - 1,383,103
Net cash provided by(used in)noncapital �
financing activities (110,245) - 19,869 (23,500) 349,278 519,244 (109,829) - 644,817 _
Cazh 11ows from capital and related financing activities
Proceeds from general obligation bonds 732,000 - - - - 314,000 - - 1,046,000 ' `
Acquisition and wnstruction of capital assets (2,073,425) (4,134,403) - (5,075) (59,627) (36,005) (88,176) (206,050) (6,602,761)
Principal paid on general and limited revenue
obligationbonds (2,237,124) (230,000) - (47,961) (353,566) (71,120) - (1,086,015) (4,025,786)
Interest paid on general and limited revenue
obligationbonds (1,318,65'n (306,771) - (33,807) (186,079) (66,485) - (57,766) (1,969,565)
Proceedsfromsaleofequipment 460 1,629 - - - - - 1,54I,219 1,543,308
Grant monies received for capilal assets 954,426 2,998,968 - - - - - - 3,953,394
Contributions received(made)for capital assets - - - - (11,7q2) - - 9,514 (2,228)
/`,
Investmentofbondproceeds 84,993 (32,798) - (3,496) (7,'I35) (281,441) - (658) (241,135)
Net cash provided by(used in)capital and related
financin activities 3,857,327 1,703,375 - /
g ( ) ( ) (90,339) (6�8,749) (141,051) (88,I76) 200,244 (6,298,773)
Cash tlows from investing activifies � ,
Net sales(purchases)of investments , (78,533) (448,092) - (827) 96,153 - (125,220) - (556,519)
Interes[on investments 266,853 701,286 - 19,584 ll,046 16,900 30,698 15,605 1,061,972 .
Loans issued (242,848) - - - - - - - (242,848)
Loanrepayments - 124,277 - - - - - 14,777 ]39,054
NM cash provided by(used in)investing activities (54,528) 377,471 - ]8,757 107,199 16,900 (94,522) 30,382 401,659
Net increase(decrease)in cash (216,865j (570,941) 2,207 39,780 (7,280) 6,003 (58,055) 363,768 (441,383) �
Cash,July 1 903,302 637,591 35 545 115,084 8,959 198,623 214,16I 2,078,300
.
Cash,June 30 $ 686,437 $ 66,650 $ 2,242 $ 4Q325 S 107,804 $ 14,962 $ 140,568 $ 577,929 $ 1,636,917
Schedule of noncash investing,capital and financing activities
During the year,the Economic Developmenf Fund received a noncash confibution,amounting to$242,848,based on the CDBG Fund's payment of debt service on property held
by the Economic Development Fund ,
�
Continued on next page
II-45
. \
��
Schedule D-3(con't)
CITY OF BANGOR,MAINE
Enterprise Funds
Combining Statement of Cash Flows
� For the tiscal year ended June 30,2000
Sewer CIty Bass Municipal Ecoeomic
Utility Airport Park Nursing Parking Park Golf Development
� � Fund Fund Woods Facility Fund Fund Course Fund Total
Reconciliation of operating income to net cash
, providcd by(used in)operating activities .
Operatingincome(loss) 3 2,385,001 5 (4,322,352) $ Q02,674) S (191,954) $ (131,452) $ (619,250) $ 188,406 $ 113,664 S (2,680,611)
Adjushnents to reconcile operating income to � .
� net cash provided by(used in)operating �
activities � -
i
Depteciation and amortization 1,434,285 5,540,078 94,492 105,368 306,984 255,256 76,611 31,600 7,844,674
_ Provisionforunwllectibleaccounts - (97,801) • - (86) (662) - - (98,549)
- Changes in assMs and liabilities:
(Increase)decreasein accountsreceivable 44,447 (325,999) 60 200,090 2,105 42,612 (211) - (36,896)
� � pncrease)decrease in due from water distric[ (345) - - - - - - - (345)
(Increase)decrease in inventories - 18,496 - - - 3,720 - - 22,216
(Increase)decrease in prepaid items (23,482) (145,376) - 700 - (7,338) 420 (8,192) Q83,268)
Increase(decrease)in accounts payable 120,920 96,09I (9,705) 38,245 (16,149) 3,094 (28,98� (3,930) 199,579
Increase(decrease)in deferred revrnue - - - (8,220) (5,916) (66,969) - - (81,105)
increase(decrease)in other current liabilities Q55,591) (8,174) 166 (9,367) (494) 447 (1,767) - Q74,780)
Total adjustments 1,420,234 5,077,315 85,013 326,816 286,444 230,I60 46,066 19,478 7,491,526
Net cash provided by(used in)operating aaivitie S 3,805,235 $ 754,963 $ (17,661) S 134,862 $ 154,992 $ (389,090) S 234,472 S 133,142 S 4,810,915
�
Continued from previous page
r-+
. II-46
Schedule D-4
CITY OF BANGOR,MAINE
Enterprise Fund-Sewer Utility Fund
Schedule of Revenues,Expenditures and Encumbrances '
Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000 -'
Budget Actual Variance
Revenues �
Charges for services $ 6,372,111 $ 6,239,484 $ (132,627) -
Operating subsidy - - - --
Interest and other revenue 195,000 196,620 1,620
Total revenues 6,567,111 6,436,104 (131,007)
Expenditures and encumbrances I�
Salaries 783,250 754,621 28,629
Fringe benefits 229,726 104,821 124,905
,
Supplies and materials 760,769 703,147 57,622
Contractual services 459,688 459,402 286
Interfund charges 487,735 372,870 114,865
Miscellaneous 19,100 19,509 (409)
Debt service 3,650,893 3,677,195 (26,302) ' ,
Depreciation 1,254,146 1,198,961 55,185 �.,-
Outlay 175,950 210,090 (34,140) ,
Credits - - -
Total expenditures and encumbrances 7,821,257 7,500,616 320,641
�
Excess(deficiency)of revenues over expenditures
and encumbrances $(1,254,146) $(1,064,512) $ 189,634 _
,
�
�
II-47
Schedule D-5
CITY OF BANGOR,MAINE
Enterprise Fund-Airport Fund
Schedule of Revenues,Expenditures and Encumbrances
Budget and Actual-Budgetary Basis
� For the fiscal year ended June 30,2000
Budget Actual Variance
Revenues
- Charges for services $ 8,767,900 $8,936,108 $ 168,208
Operating subsidy - - -
Interest and other revenue 974,277 1,232,963 258,686
Total revenues 9,742,177 10,169,071 426,894
�
__ Expenditures and encumbrances
Salaries 3,533,896 3,370,199 163,697
Fringe benefits 853,515 844,651 8,864
Supplies and materials 1,333,050 1,259,410 73,640
Contractual services 1,380,050 1,423,889 (43,839)
Interfund charges 433,788 435,495 (1,707)
Miscellaneous 94,850 136,169 (41,319)
� Debt service 536,770 536,770 -
Depreciation 2,023,565 1,800,275 223,290
Outlay 798,407 730,004 68,403
Credits - - -
Total expenditures and encumbrances 10,987,891 10,536,862 451,029
Excess(deficiency)of revenues over expenditures
and encumbrances $(1,245,714) $ (367,791) $ 877,923
�
II-48
Schedule D-6
CITY OF BANGOR,MAINE
Enterprise Fund-Park Woods
Schedule of Revenues,Expenditures and Encumbrances
Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000
Budget Actual Variance
Revenues
Charges for services $ 257,350 $ 257,614 $ 264
Operating subsidy 16,369 16,369 -
Interest and other revenue - - -
Total revenues 273,719 273,983 264
Expenditures and encumbrances
Salaries 47,972 48,440 (468)
Fringe benefits 8,754 9,815 (1,061)
Supplies and materials 88,704 83,797 4,907
Contractual services 123,489 105,046 18,443
Interfund charges 4,800 3,611 1,189
Miscellaneous - - -
Debt service - - -
Depreciation 8,342 8,501 (159)
Outlay - 836 (836)
Credits - - -
Total expenditures and encumbrances 282,061 260,046 22,015
Excess(deficiency)of revenues over expenditures
and encumbrances $ (8,342) $ 13,937 $ 22,279
II-49
Schedule D-7
CITY OF BANGOR,MAINE
Enterprise Fund-City Nursing Facility
Schedule of Revenues,Expenditures and Encumbrances
Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000
Budget Actual Variance
Revenues
Charges for services $2,403,499 $2,745,815 $ 342,316
Operating subsidy 623,500 623,500 -
Interest and other revenue - 1,864 1,864
Total revenues 3,026,999 3,371,179 344,180
Expenditures and encumbrances
Salaries 1,788,276 1,809,156 (20,880)
Fringe benefits 491,421 431,550 59,871
Supplies and materials 307,920 314,922 (7,002)
Contractual services 171,038 165,262 5,776
Interfund charges 8,359 5,171 3,188
Miscellaneous 2,450 2,191 259
Debt service 81,769 81,769 -
Depreciation 83,792 97,041 (13,249)
Outlay 121,765 116,176 5,589
Credits - - -
Total expenditures and encumbrances 3,056,790 3,023,238 33,552
Excess(deficiency)of revenues over expenditures
and encumbrances $ (29,791) $ 347,941 $ 377,732
II-50
Schedule D-8
CITY OF BANGOR,MAINE
Enterprise Fund-Parking Fund
Schedule of Revenues,Expenditures and Encumbrances
Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000
Budget Actual Variance
Revenues
Charges for services $ 649,400 $ 632,444 $ (16,956)
Operating subsidy 353,990 353,990 -
Interest and other revenue - 10,439 10,439
Total revenues 1,003,390 996,873 (6,517)
Expenditures and encumbrances .
Salaries 124,305 116,072 8,233
Fringe benefits 27,344 22,442 4,902
Supplies and materials 3,500 2,801 699
Contractual services 192,126 212,597 (20,471)
Interfund charges 75,000 101,510 (26,510)
Miscellaneous - - -
Debt service 544,844 544,357 487
Depreciation 288,852 299,734 (10,882)
Outlay 36,271 20,259 16,012
Credits - (459) 459
Total expenditures and encumbrances 1,292,242 1,319,313 (27,071)
Excess(deficiency)of revenues over expenditures
and encumbrances $ (288,852) $ (322,440) $ (33,588)
II-51
,
Schedule D-9
CITY OF BANGOR,MAINE ,
Enterprise Fund-Bass Park Fund
Schedule of Revenues,Expenditures and Encumbrances �
Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000
Budget Actual Variance �
Revenues
Charges for services $1,288,750 $1,226,689 $ (62,061) �
Operating subsidy 389,244 389,244 - �
Interest and other revenue - 1,034 1,034 �
Total revenues 1,677,994 1,616,967 (61,027)
Expenditures and encumbrances
Salaries 568,612 537,498 31,114
Fringe benefits 119,919 102,847 17,072
Supplies and materials 187,300 206,781 (19,481)
Contractual services 491,500 530,220 (38,720)
Interfund charges 93,350 117,028 (23,678)
Miscellaneous 68,500 67,920 580
Debt service 145,563 137,605 7,958
Depreciation 111,999 121,899 (9,900)
Outlay 14,250 5,563 8,687
Credits (11,000) - (11,000)
Total expenditures and encumbrances . 1,789,993 1,827,361 (37,368)
Excess(deficiency)of revenues over expenditures
and encumbrances $ (111,999) $ (210,394) $ (98,395)
II-52 .
Schedule D-10
CITY OF BANGOR,MAINE
Enterprise Fund-Municipal Golf Course
Schedule of Revenues,Ezpenditures and Encumbrances
Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000
Budget Actual Variance
Revenues
Charges for services $ 667,225 $ 631,760 $ (35,465)
Operating subsidy - - -
Interest and other revenue 12,000 30,698 18,698
Total revenues 679,225 662,458 (16,767)
Expenditures and encumbrances
Salaries 162,296 163,069 (773)
Fringe benefits 32,207 23,694 8,513
Supplies and materials 43,300 54,998 (11,698)
Contractual services 67,216 68,295 (1,079)
Interfund charges 321,707 143,653 178,054
Miscellaneous - - -
Debt service - - -
Depreciation 73,088 76,056 (2,968)
Outlay 52,500 49,688 2,812
Credits - - -
Total expenditures and encumbrances 752,314 579,453 172,861
Excess(deficiency)of revenues over expenditures
. and encumbrances $ (73,089) $ 83,005 $ 156,094
II-53
'
Schedule D-11
CITY OF BANGOR,MAINE '
Enterprise Fund-Economic Development Fund
Schedule of Revenues,Expenditures and Encumbrances
Budget and Actual-Budgetary Basis
For the fiscal year ended June 30,2000
Budget Actual Variance
Revenues
Charges for services $ 234,838 $ 268,900 $ 34,062
Operating subsidy - - -
Interest and other revenue 3,000 26,411 23,411
Total revenues 237,838 295,311 57,473
Expenditures and encumbrances
Salaries - 25,874 (25,874)
Fringe benefits - 2,347 (2,347)
Supplies and materials 14,350 25,274 (10,924)
Contractual services 22,860 57,340 (34,480)
Interfund charges - - -
Miscellaneous 14,291 5,457 8,834
Debt service 86,988 111,245 (24,257)
Depreciation 11,707 11,707 -
Outlay 87,642 24,349 63,293
Credits - - -
Total expenditures and encumbrances 237,838 263,593 (25,755)
Excess(deficiency)of revenues over expenditures
and encumbrances $ - $ 31,718 $ 31,718
II- 54
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The follow�ng are tlie Crty':s Trust"and Agency Funds: � ,�
`�
Expendable�Trust�unds-Accounts for amou�ts ra�sed or donated to benefit the Dental Clinic,
local parks,C�ty forest and,emergency eqmprnent £"
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Other Funds Accounts�for amounts receiue�frorn uarious parties to fund"the perpetual care of
specific cemetery plots and to benefit parks,educat�ona.l and o.ther benevolent causes.
i F
3ri
� Revolving Loan Funds Accourits for the Soph�a K�rstem Sfudent Loan Fund The fund was �
,;; _,
established to pro�ide educat�onal loans to residents.of the C�ty of,$angor � ; ;;,
4. < F::
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Agency Funds Aecounts;for assets held by the govemment in a.purely custodial capacity.
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Schedule E-1
CITY OF BANGOR,MAINE
Trust and Agency Funds
Combining Balance Sheet
June 30,2000
(with comparative totals for June 30, 1999)
Nonexpendable
Trust Funds
Expendable O'ther Revolving Agency Totals
Trust Funds Funds Loan Funds Total Funds 2000 1999
ASSETS
Cash $ - $ - $ - $ - $ 2,181 $ 2,181 $ 138,877
Investments 355,164 1,049,546 94,427 1,143,973 476,287 1,975,424 1,570,143
Receivables:
Accounts - - - - - _- 839
Loans - - 39,749 39,749 - 39,749 43,635
Total assets $ 355,164 $1,049,546 $ 134,176 $1,183,722 $478,468 $2,017,354 $1,753,494
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable $ - $ - $ - $ - $ 1,160 $ 1,160 $ 4,073
Amounts held for others - - - - 477,308 477,308 527,803
Totalliabilities - - - - 478,468 478,468 531,876
Fund equity:
Reserved for:
Loans - - 134,176 134,176 - 134,176 130,663
Endowments - 539,971 - 539,971 - 539,971 535,321
Unreserved 355,164 509,575 - 509,575 - 864,739 555,634
Total fund equity 355,164 1,049,546 134,176 1,183,722 - 1,538,886 1,221,618
Total liabilities and fund equity $ 355,164 $1,049,546 $ 134,176 $1,183,722 $478,468 $2,017,354 $1,753,494
II-55
�:F
Schedule E-2
CITY OF BANGOR,MAINE
Trust and Agency Funds-Expendable Trust Funds
Statement of Revenues,Expenditures,and Changes in Fund Equity
For the fiscal year ended June 30,2000
Revenues
Revenue from use of money and property $ 21,039
Contributions 221,224
Total revenues 242,263
Expenditures
Payments to beneficiaries 18,995
Total expenditures 18,995
Excess of revenues over expenditures 223,268
Other financing uses
Transfers to other funds 45,000
Excess of revenues over expenditures and
other financing sources 178,268
Fund equity,July 1 176,896
Fund equity,June 30 $ 355,164
II-56
Schedule E-3
CITY OF BANGOR,MAINE
Trust and Agency Funds-Nonexpendable Trust Fnnds
Combining Statement of Revenues,Expenses and Changes in Fund Equity
For the fiscal year ended June 30,2000
Other Revolving
Funds Loan Fund Total
Operating revenues
Interest $ 88,009 $ 5,029 $ 93,038
Lot sales 4,650 - 4,650
Other 85,543 - 85,543
Total operating revenues 178,202 5,029 183,231
Operating expenses
Payments to beneficiaries 928 - 928
Miscellaneous - 1,516 1,516
Total operating expenses 928 1,516 2,444
Net income before operating transfers 177,274 3,513 180,787
Transfers to other funds (46,900) - (46,900)
Transfers from other funds 5,113 - 5,113
Net income 135,487 3,513 139,000
Fund equity,July 1 914,059 130,663 1,044,722
Fund equity,June 30 $1,049,546 $ 134,176 $1,183,722
II-57
Schedule E-4
CITY OF BANGOR,MAINE
Trust and Agency Funds-Nonexpendable Trust Funds
Combining Statement of Cash Flows
For the fiscal year ended June 30,2000
Other Revolving
Funds Loan Fund Total
Cash flows from operating activities
Cash payment to suppliers for goods and service $ - $ (1,516) $ (1,516)
. Other operating cash receipts 95,306 5,141 100,447
Other operating cash payments (47,828) - (47,828)
Net cash provided by(used in)operating activities 47,478 3,625 51,103
Cash flows from investing activities
Net sales(purchases)of investments (135,487) (7,400) (142,887)
Interest on investments 88,009 3,775 91,784
Net cash provided by (used in� investing activities (47,478) (3,625) (51,103)
Net increase(decrease)in cash - - -
Cash,July 1 - - -
Cash,June 30 $. - $ - $ -
Reconciliation of operating income to net cash provided by(used in)operating activities
Operating income $ 177,274 $ 3,513 $ 180,787
Adjustments to reconcile operating income to
net cash provided by(used in)operating
activities
Presentation differences:
Interest (88,009) - (88,009)
Transfers, net (41,787) - (41,787)
Student loan fund - 112 112
Net cash provided by(used in)operating activities $ 47,478 $ 3,625 $ 51,103
II- 58
Schedule E-5
CITY OF BANGOR,MAINE
Trust and Agency Funds-Agency Funds
Statement of Changes in Assets and Liabilities
For the fiscal year ended June 30,2000
Balance Balance
June 30, 1999 Additions Deletions June 30,2000
ASSETS
Cash $ 138,877 $ 313,668 $ 450,364 $ 2,181
Investments 392,160 743,806 659,679 476,287
Accounts receivable 839 - 839 -
$ 531,876 $1,057,474 $1,110,882 $ 478,468
LIABILITIES
Accounts payable $ 4,073 $ 8,562 $ 11,475 $ 1,160
Amounts held for others 527,803 1,048,072 1,098,567 477,308
$ 531,876 $1,056,634 $1,110,042 $ 478,468
II-59
I! .
!� .�. � . . ,. . � . ..
:; r.� . , . . .. .
r.
General Fixed Assets Account Group
The general fixed asset account group is used to account for the City's fixed assets,which are not
accounted for in an enterprise or trust fund. The self-balancing account group is used to establish
accounting control of the City's general fixed assets. f
Schedule F-1
CITY OF BANGOR,MAINE
Schedule of General Fixed Assets By Source
June 30,2000
GENERAL FIXED ASSETS
Land $ 5,198,491
School Land � 1,350,988
Buildings � 5,847,396
School buildings . 32,683,209
Vehicles 8,405,723
Machinery and equipment 4,929,518
School other 5,458,015
Construction in progress 2,138,434
Total general fixed assets $ 66,011,774
INVESTMENT IN GENERAL FIXED ASSETS
Total general fund $ 66,011,774
II-60
. Schedule F-2
CITY OF BANGOR,MAINE v°1�
Schedule of General Fixed Assets By Function � ` \�\
June 30,2000 �,
Function Land Buildings Vehicles Equipment Total
�n�� ��� ,�o
General Governmerrt `�� $3,682,151 $ 154,20�0��,$��508,100 $ 1,134,775 $ 5,479,226
Public Safety ��t���� 131,355 2,180,173 1,858,029 821,404 4,990,961
I ��
Health,welfare and recreation1�,�,�����1;037,595 2,032,944�� � - 935,298 4,005,837
\�
Public building and services I��1���K�347,390 1,480,079�1� 6,039,594 2,038,041 9,905,104
C� l�
Education �(���y0�`�1,350,988 32,683,209a� - 5,458,015 39,492,212
1
6,549,479 38,530,605 8,405,723 10,387,533 63,873,340
Construction in process - 942,854 - 1,195,580 2,138,434
Total $6,549,479 $39,473,459 $ 8,405,723 $11,583,113 $ 66,011,774
II-61
Schedule F-3
CITY OF BANGOR,MAINE
Schedule of Changes in General Fixed Assets By Function
For the fiscal year ended June 30,2000
General General
Fixed Assets Fixed Assets
Function June 30, 1999 Additions DeleNons June 30,2000
General Government $ 5,333,760 $ 145,466 $ - $ 5,479,226
Public Safety 4,751,970 238,990 - 4,990,960
Health,welfare and recreation 3,558,323 447,514 - 4,005,837
Public building and services 8,897,497 1,007,608 - 9,905,105
Education 32,869,066 6,623,146 - 39,492,212
55,410,616 8,462,724 - 63,873,340
Construction in process 8,547,039 1,709,929 8,118,534 2,138,434
Total general fixed assets $ 63,957,655 $ 10,172,653 $ 8,118,534 $ 66,011,774
II -62
r.,.
i _,
�,
, ,.
f r ..
Other Information �
.
. .
� Schedule G-1
CITY OF BANGOR,MAINE
Assessed Valuation,Commitment and Collections
For the fiscal year ended June 30,2000
VALUATION ,
Land and buildings $1,228,199,000
Land and buildings-Homestead exemption 38,954,100
Personal property 208,423,500
Total valuation $1,475,576,600
COMMITMENT
Real estate and personal property(excludes Homestead exemption) $1,436,622,500
Tax rate 0.02370
Tota1 commitment 34,047,953
ADD
Supplemental taxes committed 22,022
34,069,975
LESS
Collections 2000 32,809,377
Abatements 246,152
2000 taxes receivable at June 30, 2000 $ 1,014,446
II-63
;
!
Schedule G2
CITY OF BANGOR,MAINE
Undesignated Fund Balance Sufficiency Calculallon
For the fiscal year ended June 30,2000
It is tlie policy of the City to maintain an undesignated fund balance approximately 7.5%of
operating expenditures. The following table sets forth the calculation as to the sufficiency of
the June 30,2000 undesignated fund balance.
General Fund expenditures/uses ( Schedule A-2)
General government $ 3,481,542
Public safety 9,527,935
Health,welfare and recreation , 2,624,858
Public buildings and services 7,073,693
Other agencies 2,500,460
Education 33,181,363
Other appropriations 2,760,076
Other uses, gross 2,043,724
Gross expenditures and uses 63,193,651
General Fund debt service 3,098,437
Net expenditures and uses $60,095,214
Indicated undesignated fund balance @ 7.5% $ 4,507,141
Actual undesignated fund balance(Schedule A-2) $ 7,079,422
Actual undesignated fund balance as a percentage
of net expenditures and uses 11.78%
Over(under)funded status $ 2,572,281
II -64
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, �
� � Statistical Section �
Table 1
CITY OF BANGOR,MAINE
General Fund Revenues--Budgetary Basis*
Last Ten Fiscal Years
loter- Licenses Charges Fines Use of Re-
Fiscal Real Personal Total Tax govern- & for &For- . Money& imburse-
Year Property Property Excise Revenues mental Permits Services feitures Property ments** Total
1991 20,627,960 1,836,642 2,359,558 24,824,160 12,269,912 199,007 5,154,889 15,355 1,162,157 1,423,846 45,049,326
1992 24,254,687 2,166,822 2,307,113 28,728,622 1,366,929 232,584 5,937,666 12,486 505,967 2,804,902 39,589,156
1993 25,141,883 2,327,456 2,548,060 30,017,399 14,094,486 270,248 6,586,779 11,788 381,952 - 51,362,652
1994 26,392,128 2,483,933 2,922,952 31,799,013 17,291,808 276,167 5,203,023 11,699 530,633 - SS,112,343
1995 27,011,014 3,138,803 2,763,619 32,913,436 14,513,524 268,352 6,936,668 54,132 911,491 - 55,597,603
! 1996 27,340,204 3,545,267 2,754,819 33,640,290 13,803,107 324,639 6,94Q083 26,569 1,066,083 - 55,800,771
1997 27,036,650 3,748,446 2,926,858 33,711,954 14,322,698 372,003 7,138,210 42,350 924,742 - 56,511,957
1998 27,750,306 4,224,568 3,095,072 35,069,946 16,233,583 433,449 7,529,144 28,193 546,229 - 59,840,544
1999 27,484,400 4,487,895 3,266,421 35,238,716 17,733,946 499,483 7,879,418 24,813 600,085 - 61,976,461
� 2000 28,498,443 4,945,754 3,592,979 37,037,176 18,936,166 393,354 8,147,181 19,178 933,427 - 65,466,482
* Amounts appear in Schedule A-2.
** "Reimbursements"were primarily grants for human services,which were reclassified as intergovernmental revenue
beginning in fiscal 1993.
III-1
Table 2
CITY OF BANGOR,MAINE
General Fund Expenditures by Function--Budgetary Basis*
Last Ten Fiscal Years
Fisca General Public Health& Parks& Public Debt Other
Year Govemment Safety Weltare Recreation Services Education Service Other** Agencies*** Total
1991 3,617,711 7,644,841 2,046,254 748,629 4,126,514 24,847,977 1,150,036 22,277 1,732,847 45,937,086
1992 3,184,909 8,054,011 3,857,657 670,214 4,049,770 25,486,072 1,210,420 198,564 1,796,519 48,508,136
i
1993 3,188,999 8,678,863 3,434,463 721,216 4,302,728 25,854,492 1,160,983 213,491 1,671,710 49,226,945
1994 3,275,299 9,126,524 4,016,937 894,339 5,659,277 26,871,968 1,454,132 200,436 1,715,417 53,214,329
1995 3,243,405 9,233,995 2,455,303 970,084 6,720,880 27,999,220 1,641,046 150,474 1,999,580 54,413,987
1996 3,340,732 8,990,888 1,683,177 888,139 7,049,049 28,258,718 1,403,761 45,595 2,046,064 53,706,123
1997 3,378,392 9,723,034 1,805,734 887,122 6,842,469 28,934,989 1,364,213 75,238 2,196,959 55,208,150 I
1998 3,454,345 10,362,360 1,757,148 923,430 7,648,048 30,190,919 1,335,405 389,805 2,231,591 58,293,051
1999 3,371,246 10,326,120 1,705,099 945,953 7,321,657 31,926,707 1,340,136 131 . 2,391,962 59,460,695
.__.�
2000 3,481,542 9,527,935 1,652,971 971,887 7,073,693 33,181,363 1,214,6 I #######� 2,500,460 61,149,927
* Amounts appeaz in Schedule A-2.
** "Other"includes recreation district tax,contingency,TIF related payments,pensions and other fringes.
*** "Other Agencies"includes Penobscot County taxes and support to,among other the Bangor Public Library,
local private schools and the Bangor Conventions and Visitors Bureau.
III-2
Table 3
CITY OF BANGOR,MAINE
General Fund Expenditures/Other Uses and Revenues/Other Sources-Budgetary Basis*
Last Ten Fiscal Years
Other Uses Other Sources
Excess(Deficiency)
Appropr- Total Appropr- Operating Total of Revenues/Other
iadons to Operating General Fund iations from Transfers Total General Fund Sources Over
Fisca Fund Transfers Total Expenditures Fund In&Other Other Revenues Expenditures/
Year Balance Out&Other Other Uses &Other Uses Balance Sources Sources &Other Sources Other Uses
1991 - 787,546 787,546 46,724,632 . 276,007 - 276,007 45,325,333 (1,399,299)
1992 - 415,232 415,232 48,923,368 818,520 9,300 827,820 40,416,976 (8,506,392)
1993 433,112 692,527 1,125,639 50,352,584 - - - 51,362,652 1,010,068
1994 - 787,897 787,897 54,002,226 26,328 108,179 134,507 55,246,850 1,244,624
1995 - 865,462 865,462 55,279,449 260,000 28,770 288,770 55,886,373 606,924
1996 - 1,871,914 1,871,914 55,578,037 689,909 76,249 766,158 56,566,929 988,892
- 1997 - 2,360,375 2,360,375 57,568,525 1,249,123 377,448 1,626,571 58,138,528 57Q003
1998 - 1,528,803 1,528,803 59,821,854 333,731 357,459 691,190 60,531,734 709,880
1999 - 1,640,914 1,640,914 61,101,609 362,286 77,903 440,189 62,416,650 1,315,041
2000 240,000 1,803,724 2,043,724 63,193,651 21,550 71,682 93,232 65,559,714 2,366,063
* Amounts appear in Schedule A-2.
�
III-3
Table 4
CITY OF BANGOR,MAINE
Assessed and Estimated Market Value*
Last Ten Fiscal Years
Fiscal Real Personal
year Property. Property Total % Change
1991 1,126,289,900 94,536,200 1,220,826,100 NA
1992 1,140,049,000 101,506,000 1,241,555,000 1.70%
1993 1,162,189,600 103,825,600 1,266,015,200 1.97%
1994 . 1,183,296,900 109,541,200 1,292,838,100 2.12°/a
1995 1,193,466,200 112,324,800 1,305,791,000 1.00%
1996 1,201,371,900 139,604,900 1,340,976,800 2.69%
1997 1,206,956,900 156,506,600 1,363,463,500 1.68%
1998 1,210,414,700 176,756,000 1,387,170,700 1.74%
1999 1,219,950,500 188,488,200 1,408,438,700 1.53%
2000 1,267,153,100 208,423,500 1,475,576,600 4.77% �
* It is City policy to assess at 100%of estimated market value.
�
III-4
Table 5
CITY OF BANGOR,MAINE
Property Tax Levies,Collections and Delinquencies*
Last Ten Fiscal Years
%of Outstanding Ratio of
%of Delinquent Total Total Tax Current Year Current Year
Fiscal Gross Tax Abate- Net Tax Current Net Levy Tax Tax Collection Delinquent Delinquencies
year Levy** ments** Levy Collections** Collected Collections Collections to Net Levy Taxes** to Net Levy
1991 23,097,868 194,635 22,903,233 21,313,338 93.06% 854,272 22,167,610 96.79% 1,589,895 6.94%
1992 26,447,878 180,157 26,267,721 24,316,637 92.57°/a 1,402,235 25,718,872 97.91% 1,951,084 7.43%
1993 27,118,624 105,234 27,013,390 25,020,672 92.62% 1,994,355 27,015,027 ]00.01% 1,992,718 738%
1994 28,549,008 380,322 28,168,686 26,499,976 94.08% 2,024,862 28,524,838 101.26% 1,668,710 5.92%
1995 30,305,921 323,102 29,982,819 28,250,549 94.22% 1,680,210 29,930,759 99.83% 1,732,270 5.78%
1996 31,084,237 341,860 30,742,377 29,297,048 9530% 1,469,986 30,767,034 100.08% 1,445,329 4.70%
1997 31,437,259 395,775 31,041,484 29,481,717 94.98% 1,570,081 31,051,798 100.03% 1,560,037 5.03%
1998 32,600,063 364,524 32,235,539 30,805,625 95.56% 1,543,779 32,349,404 10035% 1,429,914 4.44%
I
t
1999 32,611,689 145,123 32,466,566 31,084,751 95.74% 1,503,187 32,587,938 100.37% 1,381,815 4.26%
� 2000 34,069,975 246,152 33,823,823 32,809,377 97.00% 719,683 33,529,060 99.13% 1,014,446 3.00%
� * Amounts can be found on Schedule G-1.
** Because of data entry difficulties associated with a system conversion during FY00,amounts dassified under Current Collection
III-5
Table 6
CITY OF BANGOR,MAINE
Property Tax Rate Components(000's)
Last Ten Fiscal Years
General General
Fiscal City Fund Debt Penobscot Total Tax/
Year Government Service Education County (Mill)Rate
1991 $ 8.19 $ 0.98 $ 8.76 $ 0.97 $ 18.90
1992 9.13 0.97 10.22 0.98 21.30
1993 9.57 0.91 10.04 0.88 21.40
1994 9.60 1.13 10.41 0.86 22.00
1995 9.72 1.26 11.21 0.86 23.05
1996 9.32 1.46 11.51 0.86 23.15
1997 9.35 134 11.33 0.88 22.90
1998 9.64 1.28 11.57 0.86 23.35
i
�
1999 9.67 1.10 12:11 0.92 23.80 �
2000 9.73 0.97 12.09 091 23.70
III-6
Table 7
CITY OF BANGOR,MAINE
Principal Taxpayers
June 30,2000
Assessed % of Total Cumulative
Taxpayer Business Value Tax Base %
BANMAK Associates Shopping mall $ 56,669,100 3.84% 3.84%
I General Electric* Steam turbine manufacturer 29,076,500 1.97% 5.81%
Bangor Hydro-Electric Utility 26,045,900 1.77% 7.58%
Bangor Savings Bank Financial institution 17,494,100 1.19% 8.76%
Webber Oil Company Fuel distributor 12,287,100 0.83% 9.59%
Cabrel Company Real estate interests 10,453,500 0.71% 10.30%
QV Realty Trust Real estate interests 9,454,100 0.64% 10.94%
Wal Mart Stores,Inc. Retailer 9,082,300 0.62% 11.56%
M&J Company Real estate interests 8,196,700 0.56% 12.11%
Fleet Bank of Maine Commercial bank 7,205,800 0.49% 12.60%
Airport Mall Associates Shopping mall 7,131,200 0.48% 13.09%
i Totals $193,096,300
* Net of$30,911,200 of tax increment financing assets.
' III-7
Table 8
CITY OF BANGOR,MA1NE
Computation of Legal Debt Margin
June 30,2000
Total State Valuation $1,433,450,000
Debt Limitation:
15%of State Valuation $ 215,017,500 ._
�
Debf Applicable to Debt Limitation:
Bonded General Obligation Debt
Legal Maximum As a Percent of
Dollar State
Purpose Percentage Amount Amount Maximum Valuation
Municipal 7.50% $107,508,750 $ 18,051,745 16.79% 1.26%
School 10.00% 143,345,000 10,893,058 7.60% 0.76%
Sewer 7.50% 107,508,750 30,983,231 28.82°/a 2.16%
Total Bonded Debt Applicable '
to Debt Limit: $ 59,928,034 27.87% 4.18%
Margin for Additional Borrowing: $ 155,089,466
�
III-8
Table 9
CITY OF BANGOR,MAINE
� Ratio of Net Bonded General Obligation Debt to Assessed Value and
Net Bonded General Obligation Debt Per Capita
Last Ten Fiscal Years
� Ratio of Net Bonded Debt
_ �
Fiscal Assessed Net Bonded To Assessed Per
- Year Population* Value GO Debt** Value Capita
1991 33,301 1,220;826,100 20,541,297 1.68% 616.84
1.992 32,516 1,241,555,000 21,075,758 1.70% 648.17
1993 32,027 1,266,015,200 25,421,593 2.01% 793.76
1994 32,437 1,292,838,100 27,033,359 2.09% 833.41
1995 32,570 1,305,791,000 24,198,270 1.85% 742.96
1996 31,849 1,340,976,800 24,937,760 1.86% 783.00
1997 31,479 1,363,463,500 25,763,268 1.89% 818.43
1998 31,134 1,387,170,700 28,261,855 2.04% 907.75
1999 30,783 1,408,438,700 27,205,258 1.93% 883.78
- 2000 31,311 1,475,576,600 27,713,328 1.88% 885.10
* Source:Maine Department of Human Services(1991 through 1994). Maine Department of Human
- Services,Maine State Planning Office and City of Bangor(1995 through 2000).
** Net Bonded General Obligation Debt Consists of all non-self supporting general obligation debt,and
excludes all Sewer Utility debt of$30,983,231 and Economic Developmend debt of$1,231,475,at year end FY00.
III-9
Table 10
CITY OF BANGOR,MAINE
Ratio of Annual Debt Service Ezpenditures for General Fund,
General Obligation Debt to Total General Fund Expenditures
Last Ten Fiscal Years
Ratio of Debt
Debt Service Expenditures Total Service To
Fiscal General Fund General Fund
Year Principal Interest Total Egpenditures* Expenditures
1991 1,460,110 1,087,678 2,547,788 46,137,586 5.52%
1992 1,552,596 1,005,862 2,558,458 48,508,136 5.27%
1993 1,541,233 1,177,919 2,719,152 49,226,945 5.52%
1994 2,209,846 1,235,184 3,445,030 53,214,329 6.47%
1995 2,358,643 1,085,414 3,444,057 54,413,987 6.33%
1996 2,180,072 948,86$ 3,128,940 53,706,123 5.83%
1997 2,039,162 852,963 2,892,125 55,208,150 5.24%
1998 2,032,188 1,051,394 3,083,582 58,293,051 529%
1999 2,012,109 973,276 2,985,385 59,460,695 5.02%
2000 2,038,664 1,059,773 3,098,437 61,149,927 5.07%
* Budget basis,Schedule A-2
III-10 �
Table 11
CITY OF BANGOR,MAINE
Computation of Direct and Overlapping Debt
June 30,2000
Percentage Amount
, Total Debt Applicable Applicable
Outstanding to Bangor to Bangor
Direct Debt
City of Bangor $64,638,034 100.00% $64,638,034
Overlapping Debt
Penobscot County 1,894,133 23.39% 443,038
Total Debt $66,532,167 $65,081,072
III-11
Table 12
CITY OF BANGOR,MAINE
Direct and Overlapping Debt
Last Ten Fiscal Years
Overlapping Debt Direct and Overlapping Debt
Direct Debt Bangor Maine As % of
Fiscal City of . Penobscot Recreallon Vocational Assessed Per
Year Bangor County District Region Total Value Capita
1991 50,405,000 1,760,796 320,000 - 52,485,796 4.30% 1,576.10
1992 55,860,000 1,663,253 240,000 - 57,763,253 4.65% 1,776.46
1993 64,027,090 1,598,481 160,000 517,286 66,302,857 5.24% 2,070.22
1994 67,959,000 760,461 80,000 527,096 69,326,557 5.36% 2,137.27
1995 63,144,763 696,911 - 369,490 64,211,164 4.92% 1,971.48
1996 64,319,213 1,007,864 - 295,592 65,622,669 4.89% 2,060.43
1997 64,396,280 811,530 - 221,693 65,429,503 4.80% 2,078.51
1998 66,555,452 806,241 - 147,796 67,509,489 4.87% 2,168.35
1999 67,830,816 740,212 - 73,898 68,644,926 4.87% 2,229.96
2000 64,638,034 443,038 - - 65,081,072 4.41% 2,078.54
III-12
Table 13
CITY OF BANGOR,MAINE
Revenue Bond Coverage*
Last Ten Fiscal Years
Net Revenue Calculation
Net Revenue Debt Service Requirements
Fiscal Gross Operating Available for
Year Revenues Expenses Debt Service Principal Interest Total Coverage
1991-1992 No Revenue Bond Indebtedness
1993 14,888,630 10,962,918 3,925,712 - 176,126 176,126 22.29
1994 12,876,641 9,873,956 3,002,685 - 352,253 352,253 8.52
1995 11,853,307 9,861,003 1,992,304 - 352,252 352,252 5.66
1996 9,715,257 7,336,358 2,378,899 190,000 348,073 538,073 4.42
1997 9,932,620 7,190,091 2,742,529 195,000 339,311 534,311 5.13
1998 10,733,716 7,368,848 3,364,868 205,000 329,603 534,603 6.29
1999 9,769,117 7,059,474 2,709,643 220,000 318,758 538,758 5.03
2000 9,616,656 7,730,443 1,886,213 230,000 306,770 536,770 3.51
* Revenue debt consists solely of a 1992 limited obligation Airport bond issue.
III-13
Table 14
CITY OF BANGOR,MAINE
Debt Service Requirements to Maturity all Bonded Debt
June 30,2000
Limited Obligation Total Debt Service
General Obligation Debt Revenue Debt Requirements
Fiscal
Year Interest Principal Interest Principal Interest Principal
2001 $ 2,713,501 $ 4,707,892 $ 293,643 $ 245,000 $ 3,007,144 $ 4,952,892
2002 2,427,963 5,539,315 279,308 260,000 2,707,271 5,799,315
2003 2,223,266 4,142,005 263,789 275,000 2,487,055 4,417,005
2004 2,020,276 4,221,456 247,405 290,000 2,267,681 4,511,456
2005 1,825,820 4,009,537 228,890 310,000 2,054,710 4,319,537
2006 1,641,470 4,016,766 208,958 330,000 1,850,428 4,346,766
2007 1,453,038 4,029,333 187,368 350,000 1,640,406 4,379,333
2008 1,268,748 4,047,258 164,508 370,000 1,433,256 4,417,258
2009 1,079,541 3,960,558 139,528 395,000 1,219,069 4,355,558
2010 895,480 3,959,256 112,058 425,000 1,007,538 4,384,256
Thereafter 2,826,794 17,294,658 151,086 1,460,000 2,977,880 18,754,658
Totals $20,375,897 $59,928,034 $2,276,541 $4,710,000 $22,652,438 $64,638,034
,
III-14
Table 15
CITY OF BANGOR,MAINE
Self Supporting and Tax Supported General Obligation Debt
June 30,2000
Percent of
Amount Total
General Obligation Debt Supported by Property Tax Revenues
General Fund $11,016,774 18.38%
Education 10,893,058 18.18%
Non-self Supporting Enterprise Fund 5,803,496 9.68%
Total 27,713,328 46.24%
Self Supporting General Obligation Debt
Sewer Utility Fund 30,983,231 51.70%
Economic Development Fund 1,231,475 2.05%
Total 32,214,706 53.76%
Total General Obligation Debt $59,928,034 100.00%
III-15
Table 16
CITY OF BANGOR,MAINE
Defined Benefit Pension Plan
City and Employee Rates and ContribuNons
Last Ten Fiscal Years
City Contributions for
Normal Unfunded
Fiscal Covered Retirement Liability Employee Total
Year Payroll Costs (IUUAL) Contributions Contributions
1991 15,731,400 1,683,260 1,667,528 1,022,541 4,373;329
1992 16,223,381 1,641,806 1,781,327 1,054,520 4,477,653
1993 16,875,589 1,724,685 2,018,320 1,096,913 4,839,918
1994 17,578,929 1,778,988 1,988,177 1,142,630 4,909,795
1995 17,944,029 1,805,169 1,920,011 1,166,362 4,891,542
1996 18,302,798 1,830,280 1,800,995 1,189,682 4,820,957
1997 18,533,665 1,939,735 1,902,000 1,204,688 5,046,423
1998 20,338,206 2,035,590 1,882,104 1,328,738 5,246,432
1999 20,781,397 1,580,742 1,995,036 1,358,977 4,934,755
2000 21,962,160 981,064 2,076,252 1,436,490 4,493,806
III-16
Table 17
CITY OF BANGOR,MAIlVE
Defined Benefit Pension Plan
Unfunded Liability Amortization
Fiscal Beginning Annual Ending
Year Balance Payment Liability
2000 $31,153,926 $ 2,076,249 $31,488,538
2001 31,488,538 2,138,537 31,785,189
2002 31,785,189 2,202,693 32,038,898
2003 32,038,898 2,268,774 32,244,232
2004 32,244,232 2,336,837 32,395,258
2005 32,395,258 2,406,942 32,485,511
2006 32,485,511 2,479,150 32,507,944
2007 32,507,944 2,553,525 32,454,878
2008 32,454,878 2,630,130 32,317,957
2009 32,317,957 2,709,034 32,088,082
2010-2017 32,088,082 24,812,334 25,514,196
2018-2026 25,514,196 35,909,142 -
' Total Payments $84,523,347
III-17
Table 18
CITY OF BANGOR,MAINE
Public School Enrollment
Last Ten School Years
School Other Total
Year K-3 4-5 6-8 9-12 Enrollment Enrollment
1991 1,497 . 639 873 989 148 4,146
1992 1,440 617 906 919 181 4,063
1993 1,456 650 946 904 205 4,161
1994 1,387 676 938 965 173 4,139
1995 1,433 640 932 1,054 167 4,226
1996 1,361 617 892 1,056 247 4,173
1997 1,381 651 933 1,169 260 4,394
1998 1,322 645 920 1,302 219 4,408
1999 1,318 653 924 1,248 234 4,377
2000 1,284 624 . 909 1,268 325 4,410
Source: Bangor School Committee
III-18
Table 19
CITY OF BANGOR,MA1NE
Educational Attainment,Persons Age 18 and Over
Calendar 1998*
Penobscot State of
Bangor County Maine
Less than ninth grade 4.1% 5.1% 5.9%
Ninth to twelfth grade,no diploma 8.5% 9.9% 9.9%
High school,including equivalency 23.6% 27.8% 27.9%
Some college 18.1% 16.1% 13.5%
Associate's degree 6.9% 5.2% 5.0%
Bachelor's degree 11.3% 7.8% 8.8%
Graduate/professional degree 5.5% 3.9% 4.0%
'� Latest data available
Source:U.S.Census Bureau
III-19
Table 20
CITY OF BANGOR,MAINE
Employment Composition Bangor,Maine MSA
Last Ten Calendar Years
Non-Manufacturing
Manufacturing
Total Non- Transportation Finance,
Calendar Farm Durable Non-Durable and Public Wholesale/ Insurance
Year Employment Goods Goods Constructio Utilities Retail Trade Real Estate Services Government
1990 49,870 I,800 3,150 2,030 3,060 13,250 1,770 12,680 12,130
1991 48,020 1,770 2,920 1,640 3,190 12,550 1,670 12,710 11,570
1992 47,820 1,610 2,870 1,660 2,920 12,580 1,660 13,050 11,470
1993 49,890 1,770 2,950 1,760 2,970 13,340 1,540 13,970 11,590
1994 50,300 1,800 2,580 1,710 2,940 13,580 1,540 14,770 11,380
1995 51,040 1,820 2,580 1,700 2,990 13,990 1,640 15,080 11,240
1996 51,300 1,850 2,440 1,930 3,060 13,930 1,660 15,480 10,950
1997 52,335 1,929 2,337 1,969 3,007 13,707 1,834 15,935 11,617
1998 53,480 1,956 2,395 2,018 3,080 13,977 1,852 16,434 11,768
1999 55,450 2,060 2,390 2,290 3,400 14,000 1,970 17,980 11,360
Source:Maine State Deparhnent of Labor
III-20
Table 21
CITY OF BANGOR,MAINE
Employment Data
Last Ten Calendar Years
Calendar
Year Labor Force Employment Number Percentage
1990 17;525 16,541 984 5.61%
1991 17,681 16,280 1,401 7.92%
1992 17,464 16,288 1,176 6.73%
1993 17,402 16,017 1,385 7.96%
1994 16,558 15,321 1,237 7.47%
1995 17,333 16,342 991 5.72%
1996 17,717 16,916 801 4.52%
1997 17,828 16,972 856 4.80%
1998 17,477 16,847 630 3.60%
1999 17,916 17,381 535 2.99%
Source:Maine Depamnent of Labor
III-21
Table 22
CITY OF BANGOR,MAINE
Major Employer,Bangor and Bangor MSA
Calendar 1999
Rank Employer Description .. Employees Location
1 Eastem Maine Medical Center Regional health care center 2,720 Bangor
2 University of Maine Main campus, state 2,390 Orono
university system
• 3 Bangor Mall Shopping complex 2,265 Bangor
4 City of Bangor Municipal government 1,630 Bangor
5 United States Postal Service Postal service 1,500 Bangor
6 Community Health& Counseling Community social service 815 Bangor
Services provider
7 St. Joseph's Hospital Health care center 805 Bangor
8 Shop& Save Supermarkets Grocery chain 800 Bangor
9 Fort James Paper Corp. Pulp and tissue producer 625 Old Town
10 Webber Energy Co. Fuel wholesaler/distributor 500 Bangor
11 Eastern Fine Paper,Inc. Paper producer 475 Brewer
12 General Electric Corp. Turbine manufacturer 445 Bangor
13 City of Brewer Municipal government 440 Brewer
14 Bangor Mental Health Institute Regional residential mental 435 Bangor
health center
15 Acadia Hospital Residential substance abuse 410 Bangor
treatment facility
16 Verizon Communications company 400 Bangor
17 R.H.Foster, Inc. Fuel wholesaler/distributor 360 Hampden
18 Irving Oil Corp. Fuel wholesaler/distributor 350 Bangor
19 MSAD 22 School administrative 350 Hampden,
district Newburgh,
Winterport
20 MBNA Telemarketing Systems Credit card telemarketer 300 Orono
III-22
Table 23
CITY OF BANGOR,MAINE
Residential and Commercial Building Permits and Bank Deposits
(Dollar Amounts in Thousands)
Last Ten Calendar Years
Building Permits
Residential Non-Residential Totals
Calendar � Bank
Year Units Value Units Value Units Value Deposits*
1990 439 9,401.5 179 9,947.8 618 19,349.3 1,064,208.0
1991 412 4,789.6 166 46,431.0 578 51,220.6 1,033,098.0
1992 377 4,700.7 194 30,264.6 571 34,965.3 826,716.0
1993 371 5,718.7 253 10,968.4 624 16,687.1 717,982.0
1994 289 4,019.7 274 21,068.0 563 25,087.7 705,589.0
1995 279 3,203.0 198 17,392.7 477 20,595.7 749,352.0
1996 283 4,013.8 192 18,773.8 475 22,787.6 762,181.0
1997 303 2,966.9 222 29,368.5 525 32,335.4 792,341.8
1998 284 3,149.7 223 37,984.6 507 41,134.3 808,188.7
1999 269 7,252.0 220 24,772.6 489 32,024.6 799,166.0
* Source:Maine Bureau of Banking
III-23
Table 24
CITY OF BANGOR,MAINE
Ten Largest Current Construction Projects
June 30,2000
Estimated
Completion Value
Rank Project Description Date (000's)
1 Eastern Maine Medical Center/ Addition August,2000 $ 8,791.8
Eastern Maine Healthcare
2 Galt Block Addition December,2000 1,865.9
3 Best Buy New construction September,2000 1,784.5
4 Boyd Street Housing Associates New construction October, 2000 1,662.9
5 CMI, Inc. New construction July,2000 1,387.2
6 Glidden Auto Body New construction July,2000 751.3
7 Husson College New construction August,2000 706.9
8 MD Hardy Addition November,2000 412.0
9 MD Hardy Addition July,2000 262.0
10 MD Hardy Addition August,2000 236.0
Total $17,860.5
III-24 •
Table 25
CITY OF BANGOR,MAINE
Various Demographic Data
1990 Census
Age Distribution Household Income Owner Occupied Housing Values
Age
Category Number Percent Category Number Percent Category Number Percent
<18 7,294 21.99%. <$15,000 3,740 27.97% <$25,000 31 0.69%
18-29 8,058 24.29% $15,000-$29,999 4,050 30.28% $25,000-$49.999 396 8.87%
30-44 7,792 23.49% $30,000-$44,999 2,859 2138% $50,000-$74,999 1,682 37.70%
45-54 2,885 8.70% $45,000-$59,999 1,283 9.59% $75,000-$99,999 1,265 28.35°/a
55-64 2,624 7.91% $60,000-$74,999 629 4.70% $100,000-$124,99 445 9.97%
>64 4,523 13.63% >$75,000 812 6.07% $125,000-$149,99 249 5.58%
$150,000-$174,99 158 3.54%
$175,000-$200,00 97 2.1?%
>$200,000 139 3.12%
Total 33,]76 ]00.00% 13,373 ]00.00% 4,462 100.00%
Median N/A $ 24,674 $ 76,900
Source: U.S.Census Bureau
III-25
Table 26
CITY OF BANGOR,MAINE
Taxable Retail Sales(000's)
Last Ten Calendar Years
Taxable Retail Sales in: Bangor as Percent of
Calendar City of Penobscot State of
Year Bangor County Maine County State
1990 $644,993 $1,137,309 $8,930,108 56.71% 7.22%
1991 620,521 1,112,986 8,760,684 55.75% 7.08%
1992 670,388 1,178,162 9,336,655 56.90% 7.18%
1993 712,294 1,217,741 9,815,702 58.49% 7.26%
1994 725,513 1,241,600 10,162,703 58.43% 7.14%
1995 731,195 1,269,502 10,414,283 'S7.60% 7.02%
1996 784,965 1,333,801 10,915,108 58.85% 7.19%
1997 816,298 1,379,967 11,323,937 59.15% 7.21%
1998 878,198 1,471,961 12,311,991 59.66% 7.13%
1999 992,135 1,738,263 13,453,367 57.08% 7.37%
Source:Maine State Planning Office
III-26
Table 27
CITY OF BANGOR,MAINE
Miscellaneous Data
June 30,2000
City Employees
Full time 524
Part Time 231
Public Education
Number of schools 10
Number of teachers 375
Number of students 4,410
`,
Police Protection
Number of officers 74
Number of civilian employees 11
Number of stations 1
Number of vehicles 43
Fire Protection
Number of firefighters 80
Number of civilian employees 14
Number of stations 3
Number of vehicles 19
Insurance Service Organization fire protection rating 2
Parks and Recreation
Number of parks 50
Acres of park land 600
Indoor ice arena 1
Semi-pro baseball stadium 1
Public golf courses 1.5
Public swimming pools 2 .
Sewers
Miles of sanitary sewers 115
Miles of storm sewers 35
Miles of combined sewers 40
Public Library
Number of branches 1
Number of volumes 450,000
III-27