HomeMy WebLinkAbout2008CAFR
City of Oshkosh
ANNUAL FINANCIAL REPORT
Including Auditor’s Report
For the fiscal year ending December 31, 2008
CITY OF OSHKOSH
OSHKOSH, WISCONSIN
December 31, 2008
Table of Contents
INTRODUCTORY SECTION Page No.
Letter of Transmittal 1 - 3
Council Members and Principal Officers 4
The City 5 - 8
Oshkosh Unified School District 9
FINANCIAL SECTION
Independent Auditors' Report 10 - 11
Management's Discussion and Analysis 12 - 21
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Assets 22
Statement of Activities 23
Fund Financial Statements
Balance Sheet - Governmental Funds 24
Reconciliation of the Balance Sheet of Governmental Funds to the
Statement of Net Assets 25
Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental Funds 26
Reconciliation of Statements of Revenues, Expenditures and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 27
Statement of Revenues, Expenditures and Changes in Fund Balance -
Budget and Actual - General Fund 28
Statement of Net Assets - Proprietary Funds 29
Statement of Revenues, Expenses and Changes in Net Assets-Proprietary Funds 30
Statement of Cash Flows-Proprietary Funds 31
Statement of Net Assets-Fiduciary Funds 32
Statement of Changes in Net Assets-Fiduciary Funds 33
Notes to Basic Financial Statements 34 - 60
CITY OF OSHKOSH
OSHKOSH, WISCONSIN
December 31, 2008
Table of Contents
Page No.
Required Supplemental Information
Schedule of other Post Employment Benefit Information 61
Other Supplemental Information
Combining Balance Sheet - Non-major Governmental Funds 62
Combining Statement of Revenues and Expenditures and Changes
in Fund Balances - Non-major Governmental Funds 63
Combining Statement of Net Assets-Nonmajor Other Proprietary Funds 64
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets -
Nonmajor Other Proprietary Funds 65
Combining Statement of Cash Flows-Nonmajor Other Proprietary Funds 66
Combining Statement of Net Assets - Internal Service Funds 67
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets
Internal Service Funds 68
Combining Statement of Cash Flows - Internal Service Funds 69
Combining Balance Sheet - Nonmajor Special Revenue Funds 70
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Special Revenue Funds 71
Combining Balance Sheet - Nonmajor Capital Project Funds 72
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Capital Projects Funds 73
CITY OF OSHKOSH
OSHKOSH, WISCONSIN
December 31, 2008
Table of Contents
STATISTICAL SECTION
This part of the City of Oshkosh, Wisconsin's comprehensive annual financial
report presents detailed information as a context for understanding what the
information in the financial statements, note disclosures, and required
supplementary information says about the city's overall financial health.
Contents Exhibit No.Page No.
Financial Trends A-1 through A-5 74 -80
These reports and schedules contain trend information to help the reader understand how
the city's financial performance and well-being have changed over time.
Revenue Capacity A-6 through A-10 81 - 85
These schedules contain information to help the reader assess the city's most
significant local revenue source, the property tax.
Debt Capacity A-11 through A-15 86 - 110
These schedules present information to help the reader assess the affordability
of the city's current levels of outstanding debt and the city's ability to issue
additional debt in the future.
Economic and Demographic Information A-16 through A-26 111 - 124
These schedules present information to help the reader understand the environment
within which the city's financial activities take place.
Operating Information A-27 through A-29 125 - 132
These schedules contain information to help the reader understand how the city's
financial report relates to the services the city provides and the activities it performs.
May 27, 2009
Honorable Mayor and Council Members,
City of Oshkosh:
The Annual Financial Report of the City of Oshkosh, Wisconsin, for the fiscal year ended
December 31, 2008, is submitted herewith. This report was prepared by the City’s Department
of Finance. Responsibility for both the accuracy of the presented data and the completeness and
fairness of the presentation, including all disclosures, rest with the City. We believe the data as
presented is accurate in all material respects; that it is presented in a manner designed to fairly
set forth the financial activities of the City and its various funds and account groups; and that all
the disclosures necessary to enable the reader to gain the maximum understanding of the City’s
financial activities have been included.
ACCOUNTING SYSTEM AND BUDGETARY CONTROL
The City’s accounting records for general government operations are maintained on a
modified accrual basis, with the revenues being recorded when available and measurable and
expenditures being recorded when the services or goods are received and the liabilities are
incurred. Accounting records for the City’s utilities and other enterprise funds are maintained on
the accrual basis.
In developing and modifying the City’s accounting system, consideration is given to the
adequacy of internal accounting controls. Internal accounting controls are designed to provide
reasonable, but not absolute, assurance regarding:
1) the safeguarding of assets against loss from unauthorized use or disposition and
2) the reliability of financial records for preparing financial statements and maintaining
accountability for assets.
The concept of reasonable assurance recognizes that:
1) the cost of a control should not exceed the benefits likely to be derived and
2) the evaluation of costs and benefits requires estimates and judgment by management.
Budgetary control is maintained at the sub-function level by the encumbrance of
estimated purchase amounts prior to the release of purchase orders to vendors. Purchase
orders which result in an overrun of sub-function balances are not released until
additional appropriations are made available. Open encumbrances are reported as
reservations of fund balance as of December 31, 2008.
THE REPORTING ENTITY AND ITS SERVICES
The City provides a full range of municipal services contemplated by Statute or character.
This includes police, fire, streets and sanitation, health and social services, parks, public
improvements, library and museum, mass transit, planning and zoning and general administrative
services.
The accompanying financial statements include all significant operations of the City.
A summary of this year’s revenues and expenses are included in the Management’s Discussion
and Analysis section which is in the financial section of this audit report.
DEBT ADMINISTRATION
The rates of net bonded debt to assessed valuation and the amount of bonded debt per
capita are useful indicators of the City’s debt position to municipal management, citizens, and
investors. These data for the City of Oshkosh at the end of 2008 were as follows:
RATIO OF DEBT TO DEBT
AMOUNT EQUALIZED VALUE PER CAPITA
Direct Bonded Debt $119,684,801 3.11% $1,815.61
Outstanding general obligation bonds at December 31, 2008 totaled $119,684,801 of
which $333,944 were issued for Parking Utility, $14,166,663 for Sewer Utility, $11,539,272 for
Water Utility, $2,663,900 for Industrial Park Fund, $349,122 for Transit System, $30,296,590
for Tax Incremental Finance District, $1,112,704 for the Golf Course, $292,062 for Cable TV,
and $4,145,756 for Storm Water Utility.
On February 14, 2008, $5,105,000 of Corporate Purpose Bonds, and $1,565,000 of
Promissory Notes, were sold at true interest rate of 4.4948%, and 3.5278% respectively.
Assessed valuation of $3,658,905,250 represented an increase of 2.45% from the
preceding year.
The City’s bonds have an Aa3 rating from Moody’s Investors Service, Inc.
CAPITAL PROJECTS FUNDS
The proceeds of general obligation bond issues are accounted for in Capital Projects
Funds until improvement projects are completed. At the end of the fiscal year, completed
projects are accumulated in the capital asset category for Governmental Activity Funds.
INDEPENDENT AUDIT
The City is required to have an annual audit of its financial statements by independent
certified public accountants selected by the City Council. This requirement has been complied
with and the auditors’ reports are included in the report.
ACKNOWLEDGMENTS
The preparation of this report on a timely basis could not be accomplished without the
efficient and dedicated services of the entire staff of the Department of Finance. I should like to
express my appreciation to all members of the Department who assisted and contributed to its
preparation. I should also like to thank the members of the City Council for their interest and
support in planning and conducting the financial operations of the City of Oshkosh in a
responsible and progressive manner.
Respectfully submitted,
CITY OF OSHKOSH
MARK A. ROHLOFF, City Manager
PEGGY STEENO, Director of Finance
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CITY OF OSHKOSH
COUNCIL MEMBERS AND PRINCIPAL OFFICERS
COUNCIL MEMBERS
Frank Tower, Mayor
Bryan L. Bain, Deputy Mayor
Burk Tower
Paul J. Esslinger
Jessica J. King
Dennis McHugh
Tony Palmeri
PRINCIPAL OFFICERS
Mark A. Rohloff, City Manager
Peggy A. Steeno, Director of Finance
Lynn Marquardt, Assistant Director of Finance
ORGANIZATION CHART
City Council
&
Mayor
City
Manager
Director of
Finance
Assistant Director
of Finance
THE CITY
The City is a political subdivision of the State incorporated in 1853, is the County seat of
Winnebago County, and is located on the western shore of Lake Winnebago in the Fox River Valley 173
miles north of the City of Chicago, Illinois, and 275 miles east of the cities of Minneapolis and St. Paul,
Minnesota. The corporate limits of the City encompass approximately 24.24 square miles and the
population is currently 65,920.
THE CITY COUNCIL
The City Council is the legislative and policy making body of the City and is composed of seven
Council Members, who are elected at large for two-year terms. The Mayor presides over Council meetings.
The Deputy Mayor presides at Council meetings in the Mayor’s absence. The responsibilities of the City
Council include: (i) enacting ordinances, resolutions and orders necessary for the proper governing of the
City’s affairs; (ii) reviewing and adopting the annual budget; (iii) reviewing and deciding on
recommendations from various boards and commissions; (iv) establishing policies and measures to
promote the general welfare of the City and safety and health of its citizens; and (v) representing the City at
official functions with other governmental agencies and organizations. The present members of the City
Council and the expiration of their respective terms of office are as follows:
Expiration
Name Title of Term
Frank Tower Mayor 2009
Bryan L. Bain Deputy Mayor 2009
Burk Tower Council Member 2010
Paul J. Esslinger Council Member 2010
Jessica J. King Council Member 2009
Dennis McHugh Council Member 2010
Tony Palmeri Council Member 2009
CITY ADMINISTRATION
Council Member Frank Tower was generally elected Mayor for the City of Oshkosh in April,
2007. He previously served on the Common Council being elected in April, 2002 and re-elected in April,
2004. He also served a one-year appointment in 2005 on the Winnebago County Board for District 22. He
is the Council representative on the City’s Redevelopment Authority and previously served as a citizen
member of the Traffic Review Advisory Board and, as a Council representative, served on the Cable
Commission, Housing Authority, Parks, and Convention and Visitors Bureau Boards.
Frank grew up in Oconomowoc, Wisconsin and attended both the University of Wisconsin-Milwaukee and
University of Wisconsin-Oshkosh where he studied economics and computer science. He is the Operations
Manager at YoderCom, a local wireless data communications company.
Frank serves as a board member of the Oshkosh Area United Way, Oshkosh Symphony Orchestra,
Oshkosh Arts, Oshkosh Community Players, OAEDC, Chamco, and the Wisconsin State
Telecommunications Association. He is a member of the Downtown Rotary, Oshkosh Jaycees, Oshkosh
Pilots Association and Propel. He is also a graduate of Leadership Oshkosh (class of 1999) and the
Oshkosh Police Citizens Academy (Top Gun recipient) and volunteers with Junior Achievement. He is an
avid motorcyclist, pilot and proud Jeep Wrangler owner.
Frank and his wife Kristen have lived in the Oshkosh community for fourteen years and reside on South
Park Avenue at 1369 W South Park.
The City Manager, Mark A. Rohloff, is the Chief Executive Officer for the City of Oshkosh and is
responsible for planning, organizing, and directing the activities of the municipality by interpreting the City
Council determined policy, coordinating departmental efforts, handling citizen inquiry and complaints,
screening and preparing agenda materials, and recommending legislation and policy matters. City Manager
Rohloff has over 25 years of experience in local government management. Mark’s background has
included areas as diverse as public works, economic development, public finance, organizational
development, and long range planning.
Prior to coming to Oshkosh, Mr. Rohloff was Town Administrator for Grand Chute, Wisconsin;
City Administrator Berlin, Wisconsin; Assistant City Manager of Rancho Palos Verdes, California; Senior
Budget Analyst for Long Beach, California; and Management Assistant in Fort Collins, Colorado. He
received his Bachelors Degree in Urban Affairs and Certificate in Business Administration from Saint
Louis University, and has Master of Public Administration from the University of Kansas.
The Director of Finance/Treasurer, Peggy A. Steeno, is responsible for the following divisions:
Assessor, Collections and Accounting, Parking, and Water and Sewer Utilities. She assists the City
Manager in preparing the City Budget and is responsible for the administration of the budgeted funds.
Prior to her appointment as Director of Finance in April 2008, Ms. Steeno was the Business and
Administrative Services Manager for the Waukesha Water Utility in Waukesha, Wisconsin. Prior to 1999,
Peggy was the Finance Supervisor for the City of West Allis, Wisconsin. In 1992, Peggy began her public
sector career in Madison, Wisconsin at the Wisconsin Department of Agriculture Trade and Consumer
Protection as an Agricultural Auditor. Peggy received a MBA with double emphasis in Human Resources
and Training and Technology from the University of Wisconsin-Whitewater. She has also earned a BA
with a double major in Managerial Accounting and German from the University of Wisconsin-Stevens
Point. In addition, Peggy is a Certified Public Accountant.
The Assistant Director of Finance, Lynn K. Marquardt, is responsible for supervising and
participating in all general, utility, and special accounting activities of the City. Prior to her appointment as
Assistant Director of Finance in 2003, Ms. Marquardt worked in the City’s Collections, Accounting, and
Utility divisions for over twenty-five years in various capacities ranging from cashier to officer supervisor.
Ms. Marquardt has a B. B. A. Degree with a major in Finance from the University of Wisconsin-Oshkosh
and an Associate Degree in Computer Information Systems-Microcomputer Specialist from Fox Valley
Technical College.
PRINCIPAL GOVERNMENTAL SERVICES PERFORMED BY THE CITY
Among the services it provides, the city maintains and oversees the capital budget operations of
police and fire departments, water and sewerage utilities, parking utility, a public library, a museum, mass
transit, planning and zoning, parks and recreation and public works departments. Brief descriptions of
these services are set forth below.
POLICE DEPARTMENT – The Police Department, which is governed by a five member Police
and Fire Commission comprised of citizens appointed to five-year terms by the Mayor, includes 99 sworn
officers and 30 full and part-time civilian employees, 7 community service officers, and 21 school crossing
guards. The full-time mission of the Oshkosh Police Department is to promote public safety and to
enhance the quality of life in our community through innovative policing and community partnerships.
FIRE DEPARTMENT – The Fire Department provides fire protection to residents within the City
and paramedic ambulance service to the City and surrounding communities. The Fire Department, which is
governed by a five member Police and Fire Commission comprised of citizens appointed to five-year terms
by the Mayor, maintains six fire stations, which house the department’s 22 pieces of fire, safety and rescue
equipment. The department has 108 full-time employees.
PUBLIC LIBRARY – The Oshkosh Public Library serves approximately 38,000 cardholders from
Oshkosh and surrounding towns through the main library, library website, and deposit collections. Over
370,000 items in the collections are checked out over 1,110,000 times in a year and over 400,000 visits are
made to the website of the library. Pursuant to ch 43.54 of the Wis State Statutes, a Library Board of
Trustees governs the Library.
MUSEUM – The Oshkosh Public Museum serves the community through permanent, traveling,
and virtual exhibitions, educational services and programs, publications, and research facilities. The
Museum is entrusted with the preservation, care, and documentation of 250,000 objects, as well as historic
photographs, film, and archival materials. A seven-member Board, plus two alternates, governs the
Museum.
DEPARTMENT OF PARKS – The Department of Parks develops and maintains the City’s
440.28 acres of park and public areas including recreational facilities, zoo, and municipal golf course.
MASS TRANSIT – The Transit System consists of 17 buses serving nine routes. The buses travel
over 476,000 miles annually and provide mobility for 1,097,000 passengers. The system also provides a
variety of specialized transportation services for the community. A seven-member Transit Advisory Board
governs activities of the Transit System.
PARKING UTILITY – The Parking Utility operates a 195 stall Park Plaza ramp, twelve metered
and eight unmetered off-street parking lots, containing 1,613 parking stalls. Spaces are leased on a monthly
basis in eleven of the City lots consisting of 240 stalls. In 1987, a Business Improvement District was
formed in the downtown area. The BID assists in financing one of the downtown lots.
PUBLIC WORKS DEPARTMENT – The Public Works Department consists of seven separate
divisions as follows:
The Engineering Division is responsible for the design and preparation of drawings and
specifications for street construction and maintenance, sidewalks, sanitary sewers, water mains, storm
sewers, as well as construction management for these projects.
The Street Division provides for maintenance of public roadways/alleys/parking lots, and
storm/sanitary sewers within those streets. Maintenance of storm sewer facilities includes ditching and
drainage work.
The Central Garage Division is responsible for repair, maintenance, and service of City vehicles in
twelve departments.
The Sanitation Division provides for collection of solid waste material for residential and smaller
commercial/industrial firms. Disposal of this solid waste is governed by agreements with the Winnebago
County Solid Waste Management Board. The Sanitation Division is also responsible for the City’s
recycling program.
The Water Utility operates a twenty million gallon per day water filtration plant put into operation
in 1999, operating 24 hours a day, to provide production and distribution for general public use, industrial
and fire fighting purposes. The source of water supply is Lake Winnebago. Three underground reservoirs
provide 2,500,000 gallons of water storage. Elevated storage consists of two 750,000-gallon tanks, a
1,250,000-gallon tank and a 1,500,000-gallon tank. The average daily pumpage is 7.38 mgd in 2006. The
Water Distribution Division is in charge of daily and emergency maintenance of all water mains, hydrants,
services, and meters.
The Sewerage Utility, collection and treatment services, consists of a system which is designed to
process 20,000,000 gallons per day, dry weather flow treatment plant. The average daily flow for 2006 was
10.14 mgd.
DEPARTMENT OF TRANSPORTATION – The Department of Transportation maintains and
installs all signs, lighting systems and traffic signals for public streets, parks and city buildings.
HEALTH SERVICES – The Health Services Division is organized into four divisions:
Administration and Vital Statistics, Public Health Nursing, Environmental Health, and Laboratory.
CITY EMPLOYEES
The City presently has approximately 624 full and part-time employees, of which 13 are officials
or administrators, 43 are supervisors/managers, 196 are involved in protective services, 64 are
professionals, 54 are paraprofessionals, 156 are public works, and 98 are office, clerical or helpers. Certain
groups of employees of the City, including Fire, Police, Public Works, clerical employees, as well as
Professionals, are organized into labor unions for purposes of conducting collective bargaining with the
City. Contracts are in effect through 2009. Substantially, all City employees participate in the Wisconsin
Retirement Fund. Pursuant to State Law, annual contribution rates to the fund are based on assumptions
concerning mortality, disability and interest rates, salary increases of member employees, and the number
of employees withdrawing from the fund prior to age 55. Currently, the City pays the entire cost of the
program of general City workers, police officers, and firefighters. The City’s total contribution to the
Retirement Fund was $4,350,299.97 (unaudited) for the year ended December 31, 2008, which includes
prior service costs.
In addition to the above referenced retirement fund, the State administers a plan for 28 retired
employees of the Police and Fire Departments. These individuals had been covered by a private pension
plan prior to the City joining the present plan. The City funds retirement contributions to meet current
benefit payments to retired employees. The total cost for the year ended December 31, 2008 was $126,340
(unaudited).
OSHKOSH UNIFIED SCHOOL DISTRICT
In 1982, new legislation in the State provided for the separation of school districts, as a separate legal
entity, from the City. As a result, the former Area School District is now known as the Oshkosh Unified School
District. The District includes the City of Oshkosh and the surrounding territory and encompasses an area of
approximately 111 square miles. With respect to equalized values for the year 2008, 73.35% of the equalized
valuation of the property in the Unified School District is situated within the corporate limits of the City. This law
further provided that the assets of the school district (land, buildings, and equipment) formerly held in the name
of the City, be sold to the school district and that the school district issue their promissory note in an amount
equal to the outstanding debt (principal and interest) of the City incurred for school purposes.
The administration of the District is exercised by a school board consisting of seven members who are
elected at large for staggered three-year terms of office. The District owns and operates two senior high schools,
six charter school, five middle schools and sixteen elementary schools.
The District has approximately 1,357 employees, both certified and non-certified.
The current enrollment has decreased by approximately 1.94% since the 1997/98 school term. The
enrollment for the Unified School District for the past twelve years is as follows:
Year Enrollment
2008/09 10,335
2007/08 10,374
2006/07 10,299
2005/06 10,256
2004/05 10,304
2003/04 10,406
2002/03 10,547
2001/02 10,658
2000/01 10,602
1999/00 10,618
1998/99 10,569
1997/98 10,540
In addition to Unified School District operated schools, there are seven private and parochial schools
(kindergarten through grade 12). There are approximately 1,185 students enrolled in these private schools.
Fox Valley Technical College provides the vocational and technical education for City residents and the
Fox Valley area. Operations are funded through property tax levies of the various municipalities of the District,
including the City. The Technical College currently has 805 full-time equivalent students. The actual head count
of students served is 5,797.
CPAs AND SO MUCK MORE.
INDEPENDENT AUDITORS'REPORT
To the Mayor and Common Council
City ofOshkosh
Winnebago County,Wisconsin
We have audited the accompanying financial statements of the governmental activities,the business-type
activities,the aggregate discretely presented component units,each major fund,and the aggregate
remaining fund information of the City ofOshkosh ("the City")as of and for the year ended December 31,
2008,which collectively comprise the City's basic financial statements as listed in the table of contents.
These financial statements are the responsibility of the City's management.Our responsibility is to
express opinions on these financial statements based on our audit.We did not audit the financial
statements of the Housing Authority of the City of Oshkosh,a component unit discretely presented as
described in Note A(1)to the basic financial statements Those financial statements were audited by
other auditors whose report has been furnished to us,and our opinion on the basic financial statements,
insofar as il relates to the amounts included for the Housing Authority,is based on the report of the other
auditors.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement.An audit includes examining,on a test basis,evidence supporting the amounts
and disclosures in the financial statements.An audit also includes assessing the accountina principles
used and significant estimates made by management,as well as evaluating the overall financial
statement presentation.We believe that our audit provides a reasonable basis for our opinions.
In our opinion,the financial statements referred to above present fairly,in all material respects,the
respective financial position of the governmental activities,the business-type activities,the aggregate
discretely presented component units,each major fund,and the aggregate remaining fund information of
the City as of December 31,2008,and the respective changes in financial position and cash flows,where
applicable,thereof and the respective budgetary comparison of the general fund,for the year then ended
in conformity with accounting principles generally accepted in the United States of America.
As described in Note D.3,the City has implemented GASB Statement No.45,Accounting and Financial
Reporting by Employers tor Postemployment Benefits Other Than Pensions,for the year ended
December 31,2008
In accordance with Government Auditing Standards,we have also issued our report dated May 27,2009,
on our consideration of the City's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws,regulations,contracts and grant agreements,and other
matters The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing,and not to provide an opinion on the internal
control over financial report or on compliance That report is an integral part of an audit performed in
accordance with Government Auditing Standards and important for assessing the results of our audit.
Appleton ■Fond du Lac ■Gteen Bay •Manitowoc ■Milwaukee ■Oshkosh •Sheboygan ■Stevens Point
800-236-2246 ■sctiencksc.com
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The management's discussion and analysis and the other required supplemental information,as listed in
the table of contents,respectively,are not a required part the basic financial statements but are
supplemental information required by accounting principles generally accepted in the United States of
America.We have applied certain limited procedures,which consisted principally of inquiries of
management regarding the methods of measurement and presentation of the supplemental information.
However,we did not audit the information and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statements.The financial information listed in the table of contents as
other supplemental information are presented for purposes of additional analysis and are not a required
part of the basic financial statements.Such information has been subjected to the auditing procedures
applied in the audit of the basic financial statements and,in our opinion,is fairly stated,in all material
respects,in relation to the basic financial statements taken as a whole.
The "Letter of Transmittal"and "Statistical Section"listed in the accompanying table of contents are
presented for purposes of additional analysis and are not a required part of the basic financial statements
of the City.The information has not been subjected to the auditing procedures applied in the audit of the
basic financial statements and,accordingly,we express no opinion on such information.
Certified Public Accountants
Fond du Lac,Wisconsin
May 27,2009
Management's Discussion and Analysis
December 31,2008
As management of the City of Oshkosh,we offer readers of the City's basic financial statements this
narrative overview and analysis of the financial activities of the City for the fiscal year ended December
31,2008.The analysis focuses on the City's financial performance as a whole.
Financial Highlights
•The assets of the governmental activities of the City exceeded its liabilities as of December 31,2008
and 2007 by $62,488,642 and 561,741,844 (net assets),respectively.Of this amount,$1,435,588
and $716,389 {unrestricted net assets),respectively,may be used to meet the City's ongoing
obligations to citizens and creditors.
•The City's governmental activities net assets increased by $746,798 and $730,018,respectively.
Several factors contributed to the overall increase.
•The property tax rate rose 2.0%and 2.8%,respectively,per $1,000 of property value for the years
ended December 31,2008 and 2007,respectively.
•As of December 31,2008 and 2007,the City's governmental funds reported combined ending fund
balances of $17,440,085 and $27,752,581,a decrease of $10,312,496 for 2008 and an increase of
$1,579,274 for 2007 Approximately 61%and 35%of this total amount,$10,590,719 and $9,707,717
is available forspending at the City's discretion {unreserved fund balance),respectively.
•As of December 31,2008 and 2007,unreserved fund balance for the general fund was $6,919,987
and $7,116,709,or approximately 17%and 19%of total general fund expenditures,respectively.
•The City's total general-obligation debt decreased by $13,395,249 (10.1%)during 2008.The key
factor in this decrease was the retirement of $18,861,940 of debt during the year.The City also had
debt issuances of $5,105,000 of general obligation corporate purpose bonds and $5,938,815 of
general promissory notes to finance capital improvement projects.
•The City's total general-obligation debt decreased by $270,445 (.4%)during 2007.The key factor in
this decrease was the issuance of $5,200,172 of general obligation debt and $5,470,617 of principal
payments of general obligation debt.
Overview of the Basic Financial Statements
This discussion and analysis is intended to serve as an introduction to the City's basic financial
statements.The City's basic financial statements are comprised of three components:1)government-
wide financial statements,2)fund financial statements,and 3)notes to the basic financial statements.
This report also contains other supplementary information in addition to the basic financial statements
themselves.
Government-wide financial statements.The government-wide financial statements are designed to
provide readers with a broad overview of the City's finances,in a manner similar to a private-sector
business.
The statement of net assets presents information on all of the City's assets and liabilities,with the
difference between the two reported as net assets.Over time,increases or decreases in net assets may
serve as a useful indicator of whether the financial position of the City is improving or deteriorating.
The statement of activities presents information showing how the City's net assets changed during the
most recent year.All changes in net assets are reported as soon as the underlying event giving rise to
the change occurs,regardless of the timing of related cash flows.Thus,revenues and expenses are
reported in this statement for some items that will only result in cash flows in future fiscal periods,(e.g.,
earned but unused vacation leave.)
Management's Discussion and Analysis
December 31,2008
Both of the government-wide financial statements distinguish functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities)from other functions that
are intended to recover all or a significant portion of their costs through user fees and charges (business-
type activities).The governmental activities of the City include:general government,public safety,public
works,health and welfare,parks and recreation,transportation and community development.The
business-type activities of the City include transit,water utility,sewer utility,Grand Opera House,parking
utility,redevelopment project,industrial park,golf course,storm sewer utility and TIF districts.
The government-wide financial statements include not only the City itself (known as the primary
government),but also a legally separate Housing Authority and Redevelopment Authority for which the
City is financially accountable.Financial information for the component units are reported separately from
the financial information presented for the primary government itself.
Fund financial statements.A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated for specific activities or objectives.The City,like other state
and local governments,uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements.All of the funds of the City can be divided into three categories:governmental funds,
proprietary funds and fiduciary funds.
Governmental funds.Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government-wide financial statements.However,unlike the
government-wide financial statements,governmental fund financial statements focus on near-term inflows
and outflows of spendable resources,as well as on balances of spendable resources available at the end
of the fiscal year.Such information may be useful in evaluating the City's near-term financing
requirements.
It is useful to compare the information presented for governmental funds with similar information
presented for governmental activities in the government-wide financial statements.By doing so,readers
may better understand the long-term impact of the City's near-term financing decisions.Both the
governmental fund balance sheet and the governmental fund statement of revenues,expenditures,and
changes in fund balances provide a reconciliation to facilitate this comparison between governmental
funds and governmental activities.
The City maintains 20 individual governmental funds.Information is presented separately in the
governmental fund balance sheet and in the governmental fund statement of revenues,expenditures and
changes in fund balances for the general fund,and debt service fund,which are considered to be major
funds.Data from the other 18 governmental funds are combined into a single,aggregated presentation.
Individual fund data for each of these nonmajor governmental funds is provided in the form of combining
statements elsewhere in this report.
The City adopts an annual appropriated budget for the general fund,debt service fund and selected
special revenue funds.As part of the basic governmental fund financial statements,budgetary
comparison statements have been provided for the general fund to demonstrate compliance with the
budget.
Proprietary funds.The City maintains two different types of proprietary funds.Enterprise funds are
used to report the same functions presented as business-type activities in the government-wide financial
statements.The City maintains 28 individual enterprise funds.Internal service funds are an accounting
device used to accumulate and allocate costs internally among the City's various functions.The City
maintains four individual internal service funds.Because these services predominantly benefit
governmental rather than business-type functions,they have been included within governmental activities
in the government-wide financial statements.
Management's Discussion and Analysis
December 31,2008
Proprietary funds provide the same type of information as the government-wide financial statements,only
in more detail.The proprietary fund financial statements provide separate information for the transit,
water utility and sewer utility,all of which are considered to be major funds of the City.Data from the
other 25 enterprise funds are combined into a single,aggregated presentation.Individual fund data for
each of these nonmajor enterprise funds is provided in the form of combining statements elsewhere in
this report.The four internal service funds are combined into a single,aggregated presentation in the
proprietary fund financial statements.Individual fund data for the internal service funds is provided in the
form of combining statements elsewhere in this report.
Fiduciary funds.Fiduciary funds are used to account for resources held for the benefit of parties outside
the government.Fiduciary funds are nor reflected in the government-wide financial statements because
the resources of those funds are not available to support the City's own programs.The accounting used
for fiduciary funds is much like that used for proprietary funds.
Notes to the basic financial statements.The notes provide additional information that is essential to a
full understanding of the data provided in the government-wide and fund financial statements.
Other information.The combining statements referred to earlier in connection with nonmajor
governmental funds,nonmajor enterprise funds and internal service funds are presented immediately
following the footnotes.
Government-wide Financial Analysis
Net assets.As noted earlier,net assets may serve over time as a useful indicator of a government's
financial position.In the case of the City,assets exceeded liabilities by $185,770,490 and $174,858,896
at the close of 2008 and 2007,respectively.
Current and other assets
Capital assets
Total assets
Long-term liabilities outstanding
Other liabilities
Total liabilities
Net assets:
Invested in capital assets,net of related
Restricted
Unrestricted
Total net assets
City of Oshkosh's Net Assets
Governmental
Activities
2008
$38,774,487
107,493,832
146.268.319
60.512.559
23.267.118
83,779,677
debt 59,238,509
1,814,545
1,435,588
$6.2il4.98.,6/l2.
Business-Type
Activities
2008
$44,071,710 $
198,613,124
242,684,834
104,753,476
14,649,510
119,402,986
106,592,573
16,689,275
$ 123 281848 $
Total
2008
82,846,197
306,106,956
388,953,153
165,266.035
37,916,628
203,182,663
165,831,082
1,814,545
18,124,863
185 770 490
Management's Discussion and Analysis
December 31,2008
City of Oshkosh's Net Assets
Current and other assets
Capital assets
Total assets
Long-term liabilities outstanding
Other liabilities
Total liabilities
Net assets:
Invested in capital assets,net of related debt
Restricted
Unrestricted
Total net assets
Governmental
Activities
2007
$44,173,780
108,109,042
152,282,822
70,868,293
19,672,685
90,540,978
45,658,953
15,366,502
716,389
$61741,844
Business-Type
Activities
2007
$50,156,120 $
186,130,400
236,286,520
110,351,912
12,817,556
123,169,468
99,063,739
14,053,313
$___U3.117,05?$
Total
2007
94,329,900
275,627,508
388,569,342
181,220,205
32,490,241
213,710,446
144,722,692
15,366,502
14,769,702
174,858,896
By far the largest portion of the City's net assets (89%)and (83%),respectively,reflects its investment in
capital assets (e.g.land,buildings,machinery and equipment,infrastructure,etc.),less any related debt
used to acquire those assets that is still outstanding.The City uses these capital assets to provide
services to citizens;consequently,these assets are not available for future spending.Although,the City's
investment in its capital assets is reported net of related debt,it should be noted that the resources
needed to repay this debt must be provided from other sources,since the capital assets themselves
cannot be used to liquidate these liabilities.
An additional portion of the City's net assets (1%)and (9%),respectively,represents resources that are
subject to external restrictions on how they may be used.The remaining balance of unrestricted net
assets ($18,124,863)and ($14,769,702),respectively,may be used to meet the City's ongoing
obligations to citizens and creditors.
Management's Discussion and Analysis
December 31,2008
Change in net assets.Governmental activities increased the City's net assets by $746,798 in 2008 and
$730,018 in 2007.Business-type activities increased the City's net assets by $10,164,796 in 2008 and
by $10,232,811 in 2007.Total net assets of the City increased in 2008 by $10,911,594 and in 2007 by
$10,962,829.Key elements of this change are as follows:
City of Oshkosh's Change in Net Assets
Governmental Business-Type
Revenues:
Program revenues:
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenues
Property taxes
Grants and contributions not restricted to specific
Other
Total revenues
Expenses:
General government
Public safety
Public works
Health and welfare
Park and recreation
Transportation
Community development
Unclassified
Interest of long-term debt
Transit utility
Water utility
Sewer utility
Other
Total expenses
Transfers
Total expenses and transfers
Increase in net assets
Net assets -January 1,2008
Net assets -December 31,2008
Activities
2008
$12,036,687 $
6,089,486
-
26,921,562
13,975,582
2,749,609
61,772,926
6,170,557
22,159,371
13,906,804
1,049,528
7,547,260
629,293
5,588,413
675,718
2,974,777
-
-
-
-
60,701,721
324,407
61,026,128
746,798
61,741,844
$62.488.64,2.$
Activities
2008
25,627,008 $
3,870,423
2,318,353
6,794,421
-
1,183,950
39,794,155
-
-
-
-
-
-
4,852,157
10,658,416
8,426,591
6,016,602
29,953,766
(324,407)
29,629,359
10,164,796
113,117,052
123.281,848 $
Total
2008
37,663,695
9,959,909
2,318,353
33,715,983
13,975,582
3,933,559
101,567,081
6,170,557
22,159,371
13,906,804
1,049,528
7,547,260
629,293
5,588,413
675,718
2,974,777
4,852,157
10,658,416
8,426,591
6,016,602
90,655,487
-
90,655,487
10,911,594
174,858.896
185.770 490
Management's Discussion and Analysis
December 31,2008
City of Oshkosh's Change in Net Assets
Governmental Business-Type
Revenues:
Program revenues:
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenues
Property taxes
Grants and contributions not restricted to specific
Other
Total revenues
Expenses:
General government
Public safety
Public works
Health and welfare
Park and recreation
Transportation
Community development
Unclassified
Interest of long-term debt
Transit utility
Water utility
Sewer utility
Other
Total expenses
Increase in net assets
Net assets -January 1,2007
Net assets -December 31,2007
•Property taxes increased by $1,768,672 (5.5%)in 2008 and $1,900,076 (6.3%)in 2007.Most of this
increase was directed toward debt service.
Financial Analysis of the City's Funds
As noted earlier,the City uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements.
Governmental funds.The focus of the City's governmental funds is to provide information on near-term
inflows,outflows,and balances of spendable resources.Such information is useful in assessing the
City's financing requirements.In particular,unreserved fund balance may serve as a useful measure of
the City's net resources available for spending at the end of the fiscal year.
s
$
Activities
2007
12.528,317 $
4.710,329
-
26,035,136
13.924,251
3.214,005
60,412,038
6,218,945
22,066.233
13,897.933
915,465
8,362.968
623,311
4,175,538
416,416
3,005,211
-
-
-
-
59.682,020
730.018
61,011.826
61.741.844 S
Activities
2007
24.094,213 $
3.682,269
2.301,284
5,912,175
1.940,273
37,930,214
-
-
-
-
-
-
4,654,186
9,759,651
7,854,061
5,429.505
27,697.403
10,232,811
102,884,241
113117052 $
Total
2007
36,622,530
8,392,598
2.301,284
31,947,311
13,924,251
5,154,278
98,342,252
6,218,945
22,066,233
13,897,933
915,465
8,362.968
623,311
4,175,538
416,416
3.005,211
4,654,186
9,759,651
7,854,061
5.429,505
87.379,423
10.962,829
163,896,067
174.858.896
Management's Discussion and Analysis
December 31,2008
As of December 31,2008 and 2007,the City's governmental funds reported combined ending fund
balances of $17,440,085 and $27,752,581,a decrease of $10,312,496 in 2008 and an increase of
$1,579,274 in 2007.Approximately 61%and 35%of this amount of ($10,590,719)and ($9,707,717)
constitutes unreserved fund balance,which is available for spending at the City's discretion.The
remainder of fund balance is reserved to indicate that it is not available for new spending because it has
already been committed 1)for current year purchases of inventory and prepayments that benefit periods
beyond the end of the current year ($15,117 and $175,800),2)for debt service ($1,814,545 and
$15,366,502),and 3)for capital project ($4,989,533 and $2,502,562),respectively.
The general fund is the chief operating fund of the City.At the end of 2008 and 2007,unreserved fund
balance of the general fund was $6,919,987 and $7,116,709,respectively,while total fund balance
reached $6,965,275 and $7,292,509,respectively.As a measure of the general fund's liquidity,it may be
useful to compare both unreserved fund balance and total fund balance to total fund expenditures.
Unreserved fund balance represents 17%and 19%of total general fund expenditures,while total fund
balance represents 17%and 19%of that same amount,respectively.
The fund balance of the City's general fund decreased by $327,234 in 2008 and increased by $967 988 in
2007.
The debt service fund has a total fund balance of $1,814,545 and $15,366,502,respectively.Of this fund
balance,$1,814,545 and $15,366,502 is reserved for restricted purposes,respectively.Reserved fund
balance represents 8%and 182%,respectively,of total debt service fund expenditures.
The fund balance of the debt service fund decreased by $13,551,957 in 2008 and increased by $992,081in2007.Thirteen million,five hundred thousand ($13,500,000)of the 2008 decrease resulted from trie
cross-over debt refunding where the funds were expended during the year.
Proprietary funds.The City's proprietary funds provide the same type of information found in the City's
government-wide financial statements,but in more detail.
Unrestricted net assets of the proprietary funds at the end of the 2008 and 2007 amounted to
$16,689,275 and $14,053,313,respectively.The total change in net assets was an increase of
$10,164,796 in 2008,and an increase of $10,232,811 in 2007.
Other factors concerning the finances of these funds have already been addressed in the discussion of
the City's business-type activities.
General Fund Budgetary Highlights
Generally the original budget is rarely modified.
During 2008 and 2007,actual revenues exceeded budgeted revenues by $557,889 and $689,502,
respectively,primarily in charges for services.Actual expenditures were more than budgeted
expenditures by $586,130 in 2008 and less than budgeted expenditures by $87,223 in 2007.
Management's Discussion and Analysis
December 31,2008
Capital Asset and Debt Administration
Capital assets.The City's investment in capital assets for its governmental and business-type activities
as of December 31,2008 and 2007 amounted to $306,106,956 and $294,239,442 {net of accumulated
depreciation),respectively.This investment in capital assets includes land,land improvements,buildings,
machinery and equipment,vehicles,public domain infrastructure (highways and bridges),and
construction in progress.The City's capital assets increased by $11,867,514 or 4%for 2008 and
increased by $2,311,657 or 1%for 2007.
Major capital asset acquired or constructed during the years ended 2008 and 2007 include:
•The governmental activities constructed streets in the amount of $3,320,399 and $4,094,644
purchased vehicles in the amount of $940,227 and $769,202 and building improvements and
contents in the amount of $2,518,582 and $1,673,113,respectively.
•The business activities purchased additional land and improvements to expand the TIF District in the
amount of $1,569,514 and $1,976,449,and improvements to the water,sewer and storm sewer
utilities in the amount of $20,205,921 and $7,234,280,respectively.
City of Oshkosh's Capital Assets
Governmental Business-Type
Land
Construction in progress
Buildings and systems
Machinery and equipment
Infrastructure
Total
$
$
Activities
2008
14,753,601 $
-
31,752,671
20,888,752
40,098,808
107493832,$
Activities
2008
34,732
11,143
141,252
11,485
198 613
,125
,034
,386
,579
-
,12.4
$
$
Total
2008
49,485,726
11,143,034
173,005,057
32,374,331
40,098,808
306,106,95,6
City of Oshkosh's Capital Assets
Governmental Business-Type
Land
Construction in progress
Buildings and systems
Machinery and equipment
Infrastructure
Total
$
$
Activities
2007
14,724,629 $
-
31,282,357
21,028,277
41,073,779
108.109042 $
Activities
2007
34,097,947 $
11,204,485
128,384,576
12,443,392
-
186 130 400 S
Total
2007
48,822,576
11,204,485
159,666.933
33,471,669
41,073,779
294.239.44?
Management's Discussion and Analysis
December 31,2008
Long-term debt.At the end of 2008 and 2007,the City had total bonded debt outstanding of
$169,773,545 and $185,924,179,respectively.Of this amount,$119,684,805 and $133,080,054,
respectively,comprises debt backed by the full faith and credit of the government.The remainder of the
City's debt represents bonds secured solely by specified revenue sources (i.e.,revenue
bonds).
City of Oshkosh's Outstanding Debt
Governmental Business-Type
Activities Activities Total
2008 2008 2008
General obligations debt:
Bonds and notes
Total general obligation debt
Revenue bonds
Total
$
$
53
53
53
,244
,244
,24.4
,856
,856
,856
$66,439,949 $119,684,805
66,439,949 119,684,805
50,088,740 50,088,740
$_116.528.689 $169 773 545
City of Oshkosh's Outstanding Debt
Governmental Business-Type
Activities Activities
2007 2007
Total
2007
General obligations debt:
Bonds and notes
Total general obligation debt
Revenue bonds
Total
64,952,651 $_
64,952,651
68,127,403 $133,080,054
68,127,403 133,080,054
52,844,125 52,844,125
64 952651 $120.971.528 $185.924 179
The City's total debt decreased by $16,150,634 (8.7%)in 2008 and by $3,403,931 (1.8%)in 2007.
The City maintains an Aa3 rating from Moody's Investors Service for its general obligation debt.
State statutes limit the amount of general obligation debt the City may issue to 5%of its total equalized
valuation.The debt limitation for 2008 and 2007 for the City was $178,284,495 and $173,674,850,
respectively,which is significantly in excess of the City's $119,684,805 and $133,080,054 outstanding
general obligation debt.
On April 9,2009,the City issued $1,322,463 of general obligation promissory notes to finance capital
improvement projects.
On April 28,2009,the City issued $16,740,000 of general obligation corporate purpose bonds and
$2,945,000 of general obligation promissory notes to finance capital improvement projects.
Management's Discussion and Analysis
December 31,2008
Economic Factors and Next Year's Budgets and Rates
•The economic condition and outlook of the City has remained fairly stable based on a relatively
healthy mix of manufacturing,tourism,service industry and retail activities which support our tax
base.
•Inflationary trends in our region compare favorably to national indices.
All of these factors were considered in preparing the City's budget for the 2009 fiscal year.
Contacting the City's Financial Management
This financial report is designed to provide a general overview of the City's finances for all those with an
interest in the City's finances.Questions concerning any of the information provided in this report or
requests for additional financial information should be addressed to Peggy Steeno,Director of Finance,
City of Oshkosh,P.O.Box 1130,Oshkosh,Wisconsin 54903-1130.
CITY OF OSHKOSH
Oshkosh.Wisconsin
Statement of Net Assets
December 31.2008
ASSETS
Cash and investments
Receivables
Taxes
Special assessments
Accounts
Internal balances
Due from other governments
Inventories and prepaid items
Notes receivable
Restricted Assets
Capital assets
Land and construction in progress
Other capital assets,net of accumulated
depreciation
Notes receivable
Deferred charges and deposits
TOTAL ASSETS
LIABILITIES
Accounts payable
Accrued expenses
Accrued interest payable
Intergovernmental payables
Deferred revenues
Deposits
Long-term obligations
Due within one year
Due in more than one year
TOTAL LIABILITIES
NET ASSETS
Invested in capital assets,net of
related debt
Restricted for debt service
Unrestricted
TOTAL NET ASSETS
Governmental
Activities
$21,447,719
43,325
3.001.690
3.217.010
7.492.560
346.941
15.117
3,210,125
-
14,753,601
92,740,231
146.268.319
7,716.490
2.180.432
255.173
3.210.125
3,177.348
1.070.684
5.656.866
60.512,559
83.779.677
59.238,509
1.814,545
1.435,588
$62.488.642
Primary Government
Business-type
Activities
S 28,394,871 S
-
7.434.572
(7.492,560)
408.402
744,190
-
14,233,300
45.875,159
152.737.965
306.929
42.006
242.684.834
1.550.980
1,000.000
661.429
-
34,781
6,900
11.395.420
104.753.476
119.402.986
106.592,573
16.689,275
S 123.281,848 $
Total
49.842,590
43,325
3.001.690
10,651.582
-
755.343
759.307
3.210,125
14,233,300
60,628.760
245,478.196
306.929
42.006
388.953.153
9.267,470
3.180,432
916,602
3.210,125
3,212,129
1,077.584
17,052.286
165,266.035
203.182.663
165,831.082
1,814.545
18,124.863
185.770,490
Component Units
Housing
Authority
$1,169.997
-
613.534
-
-
42,555
-
479.149
1,669.192
6.558,237
67.627
-
10.600.291
47,087
87.339
-
68.843
101.795
47.484
57.577
256.591
666.716
7.913.261
479,149
1.541.165
S 9.933,575
Redevelopment
Authority
S 4,451,356
-
-
-
-
-
-
651.142
17,720.778
-
_
-
22.823.276
10,271
-
-
-
-
14,843
6.160.330
6.185.444
11.560.448
651,142
4,426,242
S 16.637.832
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement of Activities
Year Ended December 31.2008
Functions/Programs
Primary government:
Governmental Activities
General government
Public safety
Public works
Health and welfare
Parks and recreation
Transportation
Community development
Unclassified
Interest on debt
Total Governmental Activities
Business-type Activities
Transit utility
Water utility
Sewer utility
Other
Total Business-type Activities
Total primary government
Component units:
Housing authority
Redevelopment authority
Total component units
Expenses
S 6,170.557
22.159.371
13,906.804
1.049.528
7.547.260
629.293
5.588.413
675,718
2.974,777
60.701.721
4.852.157
10.658.416
8.426.591
6.016,602
29.953,766
Primary Government Net (Expense)Revenue and Changes in Net Assets
Charges for
Services
Operating
Grants and
Contributions
Capital
Grants and
Contributions
Primary Government Component Units
Governmental
Activities
Business-type
Activities Total
Housing
Authority
Redevelopment
Authority
194.337
3.948.596
3.426.072
240.549
1.357.307
2,869,826
331,821
3.671,804
167.433
142.242
1.776.186
12,036,687 6.089.486
$(5.976.220)
(17.878.954)
(6.808.928)
(641.546)
(6.047.711)
(629.293)
(942.401)
(675.718)
(2.974.777)
(42.575.548)
685,116
11.740.668
9.353,241
3,847,983
3.641,160
229.263
839.978
1.112,749
365.626
25,627,008 3.870.423
$90.655.487 S 37.663.695 $9.959.909
2.318.353
2.318.353
$2.420.901
592.647
908,326 S 863.104
870
S 3.013,548 908,326 863.974
General revenues
Property taxes,levied for general purposes
Property taxes,levied for debt service
State and federal aids not restricted to specific
functions
Interest and investment earnings
Gain on sale of capital assets
Miscellaneous
Transfers
Total general revenues and transfers
Change in net assets
Net assets -January 1
Net assets -December 31
(525.881)
1,922,230
2,039.399
(1.573.730)
1.862,018
(42.575.548)1.862.018
11.128.038
15.793,524
13.975.582
1.785.206
6.794,421
911,358
272.592
(5.976.220)
(17.878.954)
(6.808.928)
(641.546)
(6.047.711)
(629.293)
(942.401)
(675.718)
(2.974.777)
(42.575.546)
(525,881)
1,922,230
2.039,399
(1.573.730)
1.862.018
(40.713.530)
17.922.459
15,793,524
13.975.582
2.696.564
272.592
(649.471)
(591.777)
(649.471)(591.777)
55.247 100.181
954.403
(324.407)
43.322.346
746.798
61.741.844
324.407
8.302.778
10.164.796
113.117.052
964.403
51.625.124
10.911.594
174.858.896
843.196
898.443
248.972
9.684.603
•
100.181
(491.596)
17.129.428
S 16,637,832
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh.Wisconsin
Balance Sheet
Governmental Funds
December 31,2008
ASSETS
Cash and investments
Receivables
Taxes
Special assessment
Accounts
Due from other funds
Due from other governments
Inventories and prepaid items
Notes receivable
TOTAL ASSETS
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable
Accrued payroll liabilities
Due to other funds
Due to other governments
Deferred revenues
Deposits
Total Liabilities
Fund Balances
Reserved for
Inventories and prepaid items
Retirement of long-term debt
Construction of assets
Unreserved
Designated
Undesignated,reported in
General fund
Special revenue funds
Total Fund Balances
TOTAL LIABILITIES AND FUND
BALANCES
General
$4.311,703
43.325
-
2,205,203
3,052.245
-
15,117
-
$9,627,593
S 1,020,795
1,380,300
239,622
-
19,687
1,914
2,662,318
15,117
-
-
30,171
6,919,987
-
6,965,275
$9.627.593
$
$
$
Debt
Service
1,814,545
-
-
-
-
-
-
1,814,545
-
-
-
-
-
-
-
-
1,814,545
-
-
-
-
1,814,545
1.814.545
Other
Governmental
Funds
$10,598.023
-
3,001,690
955,800
6.298,445
346,941
-
3.210,125
$24.411.024
$6.695.695
-
1.618.508
3,210,125
3,157,661
1,068.770
15,750.759
-
-
4.989.533
-
-
3,670,732
8,660,265
$24AV\X)24
Total
Governmental
Funds
S 16.724,271
43.325
3.001.690
3,161.003
9,350.690
346.941
15.117
3.210,125
$35.853.162
$7.716,490
1.380,300
1,858,130
3.210,125
3,177,348
1,070,684
18,413,077
15,117
1,814,545
4,989.533
30.171
6,919,987
3,670,732
17,440,085
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh,Wisconsin
Reconciliation of the Balance Sheet of Governmental
Funds to the Statement of Net Assets
December 31,2008
Total fund balance -total governmental funds $17,440,085
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets of $174,112,429,net of accumulated depreciation of
$66,618,597,are not financial resources and,therefore,are not reported in
the funds.See Note C(4)for additional detail.107,493,832
Internal service funds are used by management to charge the costs of
certain activities,such as risk management to individual funds.Assets and
liabilities of the internal services funds of $3,979,323 are included in
governmental activities in the statement of net assets.3,979,323
Long-term obligations of $66,169,425 are not due and payable in the current
period and are not reported in the funds.See Note C(6)for detail.Other
related amounts include accrued interest payable of $255,173.,„„•_.-_„.
Net assets of governmental activities $62,488,642
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh,Wisconsin
Reconciliation of the Statement of Revenues,Expenditures and Changes in Fund Balance
of Governmental Funds to the Statement of Activities
Year Ended December 31,2008
Net Change in Fund Balances -Total Governmental Funds $(10,312,496)
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures.However,in the
statement of activities the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense.
Capital outlay reported in governmental fund statements $6,779,208
Depreciation expense reported in the statement of activities (7,394,418)
Amount by which capital outlays are greater than depreciation in
current period (615,210)
Internal service funds are used by management to charge the costs of certain
activities to individual funds.The net revenue of the internal service funds is
reported with governmental activities.1,228,171
Certain employee benefits are reported in the governmental funds when
amounts are paid.The statement of activities reports the value of benefits
earned during the year.This year the accrual of these benefits increased by:(1,241,691)
Some capital assets acquired during the year were financed with debt.The
amount of the debt is reported in the governmental funds as a source of
financing.In the statement of net assets,.however,,debt.constitute.a longt
term liability.The amount of debt reported in the governmental funds
statement is:(7,154,145)
Repayment of principal on long-term debt is reported in the governmental
funds as an expenditure,but is reported as a reduction in long-term debt in
the statement of net assets and does not affect the statement of activities.
The amount of long-term debt principal payments in the current year is:18,861,940
Interest payments on outstanding debt are reported in the governmental
funds as an expenditure when paid,in the statement of activities interest is
reported as it accrues.This year the accrual of interest increased by:(19.771)
Change in Net Assets of Governmental Activities
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement of Revenues,Expenditures and Changes in Fund Balances
Governmental Funds
Year Ended December 31,2008
Revenues
Taxes
Special assessments
Intergovernmental
Licenses and permits
Fines and forfeits
Public charges for services
Intergovernmental charges for services
Miscellaneous
Total Revenues
Expenditures
Current
General government
Public safety
Public works
Health and welfare
Parks and recreation
Transportation
Community development
Unclassified
Debt service
Principal
Interest and fiscal charges
Capital outlay
Total Expenditures
Excess of Revenues Over (Under)
Expenditures
Other Financing Sources (Uses)
Long-term debt issued
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances -January 1
Fund Balances -December 31
General
$4.382,323
-
17.250,166
1,530,456
759,287
3,100,738
2,440,503
1,639,141
31,102,614
5,849.537
21.958,684
7,379,575
-
1.701.506
629.293
1.624,655
675,718
-
-
-
39,818.968
(8.716,354)
30,000
8,668,527
(309,407)
8,389,120
(327,234)
7,292.509
$6.965.275
Debt
Service
$15,793.524
-
-
-
-
-
873,008
16,666,532
-
-
-
-
-
-
-
18,861,940
2,955,006
-
21.816,946
(5,150,414)
192,594
-
(8,594,137)
(8,401.543)
(13.551,957)
15,366,502
$1.814.545
Other
Governmental
Funds
$6.662,940
1,811.474
1.619,019
82,159
1.934,941
1.820,920
13.931.453
130,113
2,239.372
1,047.247
5,491.692
-
3,834,316
4,464,179
17.206,919
(3,275,466)
6,931.551
20,208
(109.598)
6,842.161
3,566,695
5,093,570
$8.660.265
Total
Governmental
Funds
$26,838,787
1,811.474
18.869,185
1,612.615
759,287
5.035,679
2.440,503
4,333,069
61.700,599
5.849,537
22.088,797
9,618.947
1,047.247
7,193.198
629,293
5,458.971
675,718
18,861,940
2,955.006
4,464,179
78,842,833
(17,142,234)
7,154,145
8,688.735
(9,013.142)
6,829.738
(10,312.496)
27,752.581
$17.440.085
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement of Revenues.Expenditures and Changes in Fund Balance
Budget and Actual
General Fund
Year Ended December 31,2008
Revenues
Taxes
Intergovernmental
Licenses and permits
Fines and forfeits
Public charges for services
Intergovernmental charges for services
Miscellaneous
Total Revenues
Expenditures
Current
General government
Public safety
Public works
Parks and recreation
Transportation
Community development
Unclassified
Total Expenditures
Excess of Revenues Over Expenditures
Other Financing Sources:
Long-term debt issued
Transfers in
Transfers out
Total Other Financing Sources
Net Change in Fund Balance
Fund Balance -January 1
Fund Balance •December 31
The notes to the basic financial statements
Budgeted
Original
S 4,373.037
17,153.758
1.546.700
820,000
2,708.800
2,695.430
1,247,000
Amounts
Final
S 4.373.037
17.153,758
1.546.700
820,000
2,708,800
2,695,430
1,247.000
Actual
Amounts
S 4.382.323
17.250.166
1.530.456
759,287
3.100,738
2.440.503
1.639.141
Variance with
Final Budget -
Positive
(Negative)
$9,286
96.408
(16.244)
(60,713)
391,938
(254,927)
392,141
30,544.725 30,544.725
39.232,838
(8.688.113)
31.102.614
5,787,511
22,198.005
6,823.579
1,686,307
650.577
1,672,684
414,175
5,787.511
22,198.005
6,823,579
1,686,307
650,577
1,672.684
414,175
5.849.537
21.958.684
7.379,575
1.701,506
629,293
1.624.655
675.718
39,232.838
(8,688,113)
39.818.968
(8,716.354)
30,000
8,658,113
-
8,688.113
-
7.292.509
30.000
8.658,113
-
8.688,113
-
7,292,509
30.000
8.668.527
(309.407)
8.389,120
(327.234)
7,292,509
7.292.509 $7.292.509
are an integral part of this statement.
$6,965.275 $
557.889
(62,026)
239,321
(555,996)
(15,199)
21.284
48,029
(261,543)
(586,130)
(28,241)
10.414
(309.407)
(298.993)
(327,234)
(327.234)
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement of Nel Assets
Proprietary Funds
December 31,2008
Enterprise Funds
ASSETS
Current Assets
Cash and investments
Accounts receivable
Due from other funds
Due from other governments
Inventories and prepayments
Total Current Assets
Noncurrent Assets
Restricted assets
Capital Assets
Land and construction in progress
Other capital assets,net of accumulated
depreciation
Total Capital Assets.Net
Notes receivable
Deferred charges and deposits
Total Noncurrent Assets
TOTAL ASSETS
Transit
Utility
Water
Utility
Sewer
Utility
Other
Proprietary
Funds Total
145.050
5.604,795
3.491,155
469,123
4,237.121
2,940,515
162,232
18,552,955
857,852
103,106
28,394,871
7.434,572
734,461
367.811 4,503.582 5.207,071 35,796,695 45.875,159
The notes to the basic financial statements are an integral part of this statement.
Internal
Service
Funds
S 4.723,448
56.007
408.402
97.601
651.053
621,359
10.183.432
4,446.103
24,189
7,364,057
7.885,743
1,041
19,514,954
1.901,454
408,402
744.190
37.716.496
14.233.300
4.779.455
1,999.832
2,367.643
-
3.018.696
72.034,477
76.533,059
14,908
14,906
91.185,502
59.655.706
64.862.777
20
20
80,112.597
19,047.950
54.844.645
306.929
27.078
334.007
76.595.060
152.737,965
198.613,124
306.929
42.006
348.935
250.911.855
-
-
4.779.455
LIABILITIES
Current Liabilities
Accounts payable
Accrued expenses
Deposits
Due to other funds
Deferred revenues
Current portion of long-term obligations
Total Current Liabilities
Noncurrent Liabilities
Noncurrent portion of long-term obligations
Total Noncurrent Liabilities
TOTAL LIABILITIES
NETASSETS
Invested in capital assets, net of related debt
Unrestricted (Deficit)
TOTAL NET ASSETS
154.946
1.101
900
388.654
8.781
276.351
830.733
254.007
254.007
1,084,740
2,113.636
(179.680)
S 1.933.956 !
311.723
1,127.226
.
1,360.508
.
3.612,645
6.412,102
39.840,093
39.840.093
46.252.195
37,794.877
7,138.430
5 44.933.307
310.583
113,142
4.702,783
3.154.480
8.280.988
24.063.214
24.063.214
32,344,202
45,802,067
1.966,328
S 47.768.395 :
773,728
419,960
6.000
1,775.076
26.000
4,351.944
7,352.708
40.596.162
40.596.162
47.948.870
20.881,993
7,764,197
$28.646.190
1.550.980
1,661.429
6,900
8,227,021
34,781
11.395.420
22.876,531
104.753,476
104.753.476
127.630.007
106,592,573
16.689,275
$123,281,848
800.132
800.132
800.132
3,979.323
$3.979.323
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement of Revenues.Expenses and Changes in Fund Net Assets
Proprietary Funds
Year Ended December 31,2008
Operating Revenues
Licenses and permits
Fines,forfeitures and penalties
Intergovernmental charges for services
Public charges for services
Other revenues
Total Operating Revenues
Operating Expenses
Operating and maintenance
Depreciation and amortization
Claims and administration
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Taxes
Intergovernmental revenues
Interest on investments
Debt discount amortization
Gain on disposal of capital assets
Contributed capital income
Interest expense
Total Nonoperating Revenues (Expenses)
Income (loss)before transfers
Transfers in
Change in Net Assets
Net Assets -January 1
Net Assets -December 31
Transit
Utility
S
646.876
38.240
685.116
4.476.694
359,232
4.835.926
(4.150.810)
109,011
3.641.160
(16.231)
3.733.940
(416.870)
(416.870)
2.350.826
S 1.933.956
Enterprise
Water
Utility
$
11.740.668
11.740.668
5.727.208
3.127.365
8,854,573
2,886.095
315.176
839.978
(1.803.843)
(648.689)
2,237,406
2.237.406
42.695,901
S 44.933.307 _
Funds
Sewer
Utility
$
9.353.241
9.353.241
5.192.412
2.121.511
7.313,923
2.039,318
384.347
1.112.749
(1.112.668)
384.428
2.423,746
.
2.423,746
45,344,649
.S_.47_7_68,-395_.
Other
Proprietary
Funds
S
68.542
3.529.177
250.264
3.847.983
3.396.826
353.736
3.750.562
97.421
6.685.410
229,263
211,835
(11.762)
272.592
365.626
(2.254.278)
5.498.686
5,596.107
324.407
5.920.514
22,725.676
S 28.646.190
Total
S
68.542
25.269.962
288.504
25.627.008
18.793.140
5.961.844
24.754.984
872.024
6.794.421
3.870.423
911.358
(11.762)
272.592
2.318.353
(5.187.020)
8.968.365
9.840.389
324,407
10.164.796
113,117.052
$123.261.846
Internal
Service
Funds
S 127
39,477
7.298.774
1.518.287
8.856.665
7.661.217
7.661.217
1,195.448
32.723
32.723
1.228,171
_
1.228.171
2.751.152
$3.979.323
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh.Wisconsin
Statement of Cash Flows
Proprietary Funds
Year Ended December 31.2008
Cash Flows from Operating Activities
Cash received from customers
Cash payments to suppliers and employees
Net Cash Provided (Used)by Operating
Activities
Cash Flews from Non-Capital Financing Activities
Property taxes received
Operating grants received
Net Cash Provided by Non-Capital Financing
Activities
Cash Flows from Capital and Related Financing
Activities
Acquisition of capital assets
Principal payments on long-term debt
Interest payments on long-term debt
Long-term debt issued
Proceeds from sale of assets
Net Cash Provided (Used) by Capital and Related
Financing Activities
Cash Flows from Investing Activities
Investment income received
Net Cash Provided by Investing Activities
Net Increase (Decrease)in Cash and Cash Equivalents
Cash and Cash Equivalents -January 1
Cash and Cash Equivalents -December 31
Transit
Utility
$534.117
(5.438.257)
(4.904.140)
109.011
4.903.865
5.012.876
(92,505)
(16.231)
-
-
(108.736)
-
•
-
S ■
Enterprise Funds
Water
Utility
$13.168,387
(5.607.376)
7.561.011
.
(5,215.356)
(7,671.006)
(1.685.919)
5.754.824
.
(8.817.457)
315.176
315 176
(941.270)
10.992.168
$10.050.898
Sewer
Utility
S 9.275.061
(3.331.560)
5.943.501
(5.174.361)
(3.040.300)
(1.070.832)
-
(9.285.493)
384.347
384,347
(2.957.645)
15.080.509
S 12.122.864
Other
Proprietary
Funds
S 4.072.609
(3.461.946)
610.663
5.685.410
229.263
6.914.673
(5.793.110)
(3.283.522)
(2.153.145)
3.889.670
459.504
(6.880.603)
211.835
211.835
856.568
19.597.841
S 20,454,409_
Total
S 27.050.174
(17.839.139)
9.211.035
6.794.421
5.133.128
11.927.549
(16.182,827)
(14.087,333)
(4.926,127)
9,644.494
459.504
(25.092.289)
911.358
911.358
(3.042.347)
45.670.518
$42628,171
Internal
Service
Funds
S 9.005.458
(7.708.616)
1.296.842
32.723
32.723
1.329.555
3.393.8B3
S 4.723.448
Reconciliation of Operating Income (Loss)to Net
Cash Provided (Used)by Operating Activities;
Operating income (loss)
Adjustments to reconcile operating income to
net cash provided (used)by operating activities:
Depreciation
Changes in assets and liabilities
Accounts receivable
Due from other funds
Inventories and deferred charges
Accounts payable and accrued expenses
Due to other funds
Deferred revenues and deposits
Net Cash Provided (Used)by Operating Activities
S (4.150.810)$2.886.095 S 2.039.318
359.232 3.127.365 2.121.511
97.421 $872.024 S 1.195.448
353.736 5.961.844
(62.162)
-
26.939
(84.290)
(904.212)
(88.837)
$(4.904.140)
(63.799)
1.129.438
362.080
119.832
.
$7.561.011
(105.374)
31.711
(4.517)
(55,963)
1.916.815
S 5.943.501 S
98.052
126.413
163
597.994
(663.116)
.
610.663
(133.283)
1.287.562
384,665
577.573
349,487
(88,837)
$9.211.035
148.793
(47.399)
$1.296.842
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement of Net Assets
Fiduciary Funds
December 31,2008
ASSETS
Cash and cash equivalents
Taxes receivable
Accounts receivable
Restricted assets
Total assets
LIABILITIES
Accounts payable
Due to other governments
Deferred revenues
Total liabilities
NET ASSETS
Reserved for trust agreements
Total net assets
$
$
$
Private
Trusts
828
3,568,388
3,569,216
86,861
86,861
3,482,355
3,482.355
$
$
s
s
Agency
Property
Taxes
29,404,100
57,257,369
86,661,469
52.446,799
34,214,670
86.661.469
Funds
Hospital
Bioterrorism
$
$
S
_i_
3,442
3,442
3,442
3.442
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement of Changes in Net Assets
Fiduciary Funds
Year Ended December 31,2008
Private
Trusts
ADDITIONS
Interest
Miscellaneous
Total Additions
DEDUCTIONS
Operating expenses
Change in Net Assets
Net Assets -January 1
Net Assets -December 31
The notes to the basic financial statements are an integral part of this statement.
$
s
111,855
72,258
184,113
151,642
32,471
3,449.884
3.482.355
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Oshkosh ('the City"),Wisconsin,have been prepared in
conformity with accounting principles generally accepted in the United States of America (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 significant
accounting principles and policies utilized by the City are described below:
1.Reporting Entity
The City of Oshkosh is a municipal corporation governed by an elected seven member council.
In accordance with GAAP,the basic financial statements are required to include the City (the primary
government)and any separate component units that have a significant operational or financial
relationship with the City.The City has identified the following component units that are required to be
included in the basic financial statements in accordance with standards established by GASB Statement
No.14.
Discretely presented component units:
The component unit columns in the basic financial statements include the financial data of the City's
component units,the Housing Authority and the Redevelopment Authority of the City of Oshkosh They
are reported in separate columns to emphasize that they are legally separate from the City.The Housing
Authority's fiscal year end is June 30,and the Redevelopment Authority's fiscal year end is December 31.
Complete financial statements for the Housing Authority may be obtained at the entity's administrative
offices:
The Housing Authority of the City of Oshkosh
600 Merrit Avenue,P.O.Box 397
Oshkosh,Wl 54901-0397
Other entities:
The City has included in its primary government financial statements the following entities,which although
they have other advisory boards and committees,are not considered separate entities with corporate
powers:
Oshkosh Public Library
Transit Commission
Business Improvement District
Water Utility
Certain other significant governmental entities,which provide service within the City,are governed by
separate boards or commissions and are not accountable to the City.Consequently,financial information
for the following entities is not included within the scope of the City's reporting entity and is not included in
the City's financial statements.
School District of Oshkosh Area
Fox Valley VTAE District
2.Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e.,the statement of net assets and the statement of
activities)report information on all of the nonfiduciary activities of the City.For the most part,the effect of
interfund activity has been removed from these statements.Governmental activities,which normally are
supported by taxes and intergovernmental revenues,are reported separately from business-type
activities,which rely to a significant extent on fees and charges for support.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
The statement of activities demonstrates the degree to which the direct expenses of a given function are
offset by program revenues.Direct expenses are those that are clearly identifiable with a specific
function or segment.Program revenues include 1)charges to customers or applicants who purchase,
use,or directly benefit from goods,services,or privileges provided by a given function or segment and 2)
grants and contributions that are restricted to meeting the operational or capital requirements of a
particular function.Taxes and other items not properly included among program revenues are reported
instead as general revenues.
Separate fund financial statements are provided for governmental funds,proprietary funds,and fiduciary
funds,even though the latter are excluded from the government-wide financial statements.
Governmental funds include general,special revenue,debt service and capital projects funds.
Proprietary funds include enterprise funds and internal service funds.Major individual governmental
funds and major individual enterprise funds are reported as separate columns in the fund financial
statements.All remaining governmental and enterprise funds are aggregated and reported as nonmajor
funds.
The City reports the following major governmental funds:
GENERAL FUND
This is the City's primary operating fund.It accounts for all financial resources of the general
government,except those required to be accounted for in another fund.
DEBT SERVICE FUND
This fund accounts for the resources accumulated and payments made for principal and interest on
long-term general obligation debt of governmental funds.
The City reports the following major enterprise funds:
TRANSIT UTILITY FUND
This fund accounts for the operations of a bus transit system for the City of Oshkosh.Financing is
provided through user fees,federal and state grants,and general property taxes.
WATER UTILITY FUND
This fund accounts for the construction,operation and maintenance of the City owned water facilities.
SEWER UTILITY FUND
This fund accounts for the construction,operation and maintenance of the city owned sewerage
facilities.
The City also reports the following fund types:
Internal Service Fund
This fund accounts for the financing of goods and services provide by one department to other City
departments or to other governments on a cost reimbursement basis.
Private Trust Funds
This fund accounts for the accumulation of resources for the various funds for which the City serves
as trustee.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Agency Fund
This fund accounts for the current year tax levy collectible in the subsequent year for the City and in a
custodial capacity as an agent on behalf of others.
3.Measurement Focus.Basis of Accounting,and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting,as are the proprietary fund and fiduciary fund financial
statements.Revenues are recorded when earned and expenses are recorded when a liability is incurred,
regardless of the timing of related cash flows.Property taxes are recognized as revenues in the year for
which they are levied.Grants and similar items are recognized as revenues as soon as all eligibility
requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting.Revenues are recognized as soon as they are both
measurable and available.Revenues are considered to be available when they are collectible within the
current period or soon enough thereafter to pay liabilities of the current period.For this purpose,the City
considers revenues to be available if they are collected within 60 days of the end of the current fiscal
period.Expenditures generally are recorded when a liability is incurred,as under accrual accounting.
However,debt service expenditures,as well as expenditures related to compensated absences and
claims and judgments,are recorded only when payment is due.
Private-sector standards of accounting and financial reporting issued prior to December 1,1989,
generally are followed in both the government-wide and proprietary fund financial statements to the extent
that those standards do not conflict with or contradict guidance of the Governmental Accounting
Standards Board.Governments also have the option of following subsequent private-sector guidance for
their business-type activities,and enterprise funds subject to this same limitation.The City has elected
not to follow subsequent private-sector guidance.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial
statements.
Amounts reported as program revenues include 1)charges to customers or applicants for goods,
services,or privileges provided,2)operating grants and contributions,and 3)capital grants and
contributions.Internally dedicated resources are reported as general revenues rather than as program
revenues.Likewise,general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from non-operating items.Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations.The principal operating revenues of the
City's enterprise funds are charges to customers for services.Operating expenses for enterprise funds
include the cost of services,administrative expenses,and depreciation on capital assets.All revenues
and expenses not meeting this definition are reported as non-operating revenues and expenses.
When both restricted and unrestricted resources are available for use,it is the City's policy to use
restricted resources first,then unrestricted resources,as they are needed.
4.Assets.Liabilities and Net Assets or Equity
A.Cash and Investments
Cash and investments are combined in the financial statements.Cash deposits consist of demand
and time deposits with financial institutions and are carried at cost.Investments are stated at fair
value.Fair value is the amount at which a financial instrument could be exchanged in a current
transaction between willing parties,other than in a forced or liquidation sale.For purposes of the
statement of cash flows,all cash deposits and highly liquid investments (including restricted assets)
with a maturity of three months or less from date of acquisition are considered to be cash equivalents.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
B.Accounts Receivable
Accounts receivable are recorded at gross amount with uncollectible amounts recognized under the
direct write-off method.No allowance for uncollectible accounts has been provided since it is
believed that the amount of such allowance would not be material to the basic financial statements.
C.Interfund Receivables and Pavables
During the course of operations,numerous transactions occur between individual funds for goods
provided or services rendered.These receivables and payables are classified as "due from other
funds"and "due to other funds"in the fund financial statements.Noncurrent portions of the interfund
receivables for the governmental funds are reported as an "advance to other funds"and are offset by
a deferred revenue account or shown as a reservation of fund balance since they do not constitute
expendable available financial resources and therefore are not available for appropriation.
The amount reported on the statement of net assets for internal balances represents the residual
balance outstanding between the governmental activities,and business-type activities.
D.Inventories
Inventories are recorded at cost,which approximates market,using the first-in,first-out method.
Inventories consist of expendable supplies held for consumption.The cost is recorded as an
expenditure at the time individual inventory items are consumed rather than when purchased.
Inventories of governmental fund types in the fund financial statements are offset by fund balance
reserve accounts to indicate that they do not represent spendable available financial resources.
E.Prepaid Items
Payments made to vendors that will benefit periods beyond the end of the current fiscal year are
recorded as prepaid items.
Prepaid items of governmental fund types in the fund financial statements are offset by fund balance
reserve accounts to indicate that they do not represent spendable available financial resources.
F.Capital Assets
Capital assets,which include property,plant,equipment,and infrastructure assets,are reported in the
applicable governmental or business-type activities columns in the government-wide financial
statements.Capital assets are defined by the City as assets with an initial,individual cost of $500 or
higher and an estimated useful life in excess of one year.Such assets are recorded at historical cost
or estimated historical cost if purchased or constructed.Donated capital assets are recorded at
estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially
extend asset lives are not capitalized.
Depreciable capital assets of the City are depreciated using the straight-line method over the
following estimated useful lives:
Buildings,systems and land improvements
Machinery and equipment
Infrastructures
Governmental
Activities
30-80
1-25
20-35
Business-Type
Activities
Years
25-88
10-25
40-150
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
G.Compensated Absences
The City's policy allows employees to earn one day of sick pay per month of service,accumulating to
varying maximum amounts.The City's employees also are granted vacation in varying amounts
based on length of service.All vacation and sick leave is accrued when incurred in the government-
wide and proprietary fund financial statements.A liability for these amounts is reported in the
governmental funds in the fund financial statements only if they have matured,for example,as a
result of employee resignations and retirements.
H.Deferred Revenue
Governmental funds report deferred revenue in connection with receivables for revenues that are not
considered to be available to liquidate liabilities of the current period or for resources that have been
received,but not yet earned.
I.Long-term Obligations
In the government-wide financial statements,and proprietary fund types in the fund financial
statements,long-term debt and other long-term obligations are reported as liabilities in the applicable
governmental activities,business-type activities,or proprietary fund type statement of net assets.
Bond premiums and discounts,as well as issuance costs,are deferred and amortized over the life of
the bonds.Bonds payable are reported net of the applicable bond premium or discount.Bond
issuance costs are reported as deferred charges and amortized over the term of the related debt.
In the fund financial statements,governmental fund types recognize bond premiums and discounts,
as well as bond issuance costs,during the current period.The face amount of debt issued is
reported as other financing sources.Premiums received on debt issuances are reported as other
financing sources while discounts on debt issuances are reported as other financing uses.Issuance
costs,whether or not withheld from the actual debt proceeds received,are reported as debt service
expenditures.
J.Net Assets and Fund Equity
Net assets
Net assets represent the difference between assets and liabilities.Net assets invested in capital
assets,net of related debt consists of capital assets,net of accumulated depreciation,reduced by the
outstanding balances of any borrowings used for the acquisition,construction or improvement for
those assets.Net assets are reported as restricted when there are limitations imposed on their use
through external restrictions imposed by creditors,grantors or laws or regulations of other
governments.
The City applies restricted resources when an expense is incurred for purposes for which both
restricted and unrestricted net assets are available.
In the fund financial statements,governmental funds report reservations of fund balance for amounts
that are not available for appropriation or are legally restricted by outside parties for use for a specific
purpose.Designations of fund balance represent tentative management plans that are subject to
change.
K.Estimates
The preparation of the financial statements in conformity with generally accepted accounting
principles requires management to make estimates and assumptions that affect the amounts reported
in the financial statements and accompanying notes.Actual results may differ from those estimates.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
L.New accounting pronouncements
In July 2004,the GASB issued Statement No.45,Accounting and Financial Reporting by Employers
for Postemployment Benefits Other Than Pensions.This statement established standards for the
measurement,recognition,and display of other postemployment benefit expense/expenditures and
related liabilities (assets),note disclosures,and,if applicable required supplementary information
(RSI)in the financial reports of state and local governmental employers.The City currently provides
postretirement life and healthcare benefits in accordance with union contracts that are accounted for
on the pay-as-you-go basis.During 2008,the City implemented Statement No.45.
NOTE B •STEWARDSHIP AND COMPLIANCE
1.Budgets and Budgetary Accounting
The City adopted annual Governmental Fund budgets for the General Fund,certain Special Revenue
Funds and certain Debt Service Funds.These budgets are adopted in accordance with State Statutes
and are prepared on a basis consistent with generally accepted accounting principles.The budgetary
data presented on the Statement of Revenues,Expenditures and Changes in Fund Balances -Budget
and Actual reflects the original approved budgets of the above funds and subsequent revision authorized
by the City's Common Council.Flexible,annual budgets are approved for Proprietary Funds to provide
for financial management.Long-term budgets are adopted for Capital Projects Funds.
The following procedures are used in establishing the budgetary data reflected in the financial
statements:
•In early October,the Finance Director and City Manager submit to the Common Council a
proposed operating budget for the fiscal year commencing the following January 1.The
operating budget includes proposed expenditures and the means of financing them.
•A public hearing is conducted in the Council Chambers to obtain taxpayer comments.
•At the second council meeting in November,the budget is legally enacted through passage of a
resolution.
•The Finance Director is authorized to transfer budget amounts within departments upon City
Manager approval;however,any revisions that alter the total expenditures of any fund must be
approved by the Common Council.
•Formal budgetary integration is employed as a management control device during the year for the
General Fund,six Special Revenue Funds (Library,Museum,Cemetery,Committee on Aging,
Recycling Funds and Street Lighting Funds)and the Debt Service Fund exclusive of the Cross
Over Refunding and Current Refunding Debt Service Funds.
•Budgetary expenditure control is exercised at the department level.
•Budgeted amounts are as authorized in the original budget resolution and subsequent revisions
authorized by the Common Council.
•All appropriations lapse at year end.
The City did not have any major violation of legal or contractual provisions for the fiscal year ended
December 31,2008.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
2.Excess of Expenditures Over Budget Appropriations
The following expenditure accounts had actual expenditures in excess of budget appropriations for the
year ended December 31,2008 as follows:
The above excess expenditures were funded using positive revenue variances and available fund
balances.
Fund Function
Excess
Expenditures
General fund
General government
Public works
Parks and recreation
Unclassified
Special Revenue
Aging services
Museum
Museum
Library
Cemetery
3.Deficit Fund Equity
Capital outlay
Parks and recreation
Capital outlay
Capital outlay
Parks and recreation
62,026
555,996
15,199
261,543
6.654
128.446
3,982
5,609
27,398
The following funds had deficit fund equity as of December 31,2008:
Fund Deficit Fund Equity
Transit utility proprietary fund
Grand Opera House proprietary fund
Parking utility proprietary fund
Oshkosh Redevelopment Project proprietary fund
Health special revenue fund
Golf Course proprietary fund
Other Public Works Assessement capital projects fund
179,680
52,901
77,235
183,081
792
340,844
630,119
The City anticipates funding the above deficits from future revenues and tax levies of the funds.
NOTE C -DETAILED NOTES ON ALL FUNDS
1.Cash and Investments
The City maintains various cash and investment accounts,including pooled funds that are available for
use by all funds.Each fund's portion of these accounts is displayed in the financial statements as "Cash
and investments."
Invested cash consists of deposits and investments that are restricted by Wisconsin Statutes to the
following:
Time deposits;repurchase agreements;securities issued by federal,state and local governmental
entities;statutorily authorized commercial paper and corporate securities;and the Wisconsin local
government investment pool.
$
$
8,385
40,743,172
635,553
1,686.691
188,306
14.811.158
38.945.495
33.060
97,051.820
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
The carrying amount of the City's cash and investments totaled $97,051,820 on December 31.2008 as
summarized below:
Petty Cash funds
Deposits with financial institutions
Investments
Federal agencies
Money markets
Mutual funds
Repurchase agreements
U.S.Treasury
Wisconsin local government pool
Reconciliation to the basic financial statements:
Basic financial statements
Cash and investments S 49,842.590
Restricted cash and investments 14,233,300
Fiduciary funds
Private-purpose trust fund 3,568,388
Agency fund 29,407,542
S 97,051,820
Deposits and investments of the City are subject to various risks.Presented below is a discussion of the
specific risks and the City's policy related to the risk.
Custodial Credit Risk
Custodial credit risk for deposits is the risk that,in the event of the failure of a depository financial
institution,a government will not be able to recover its deposits or will not be able to recover collateral
securities that are in the possession of an outside party.The custodial credit risk for investments is the
risk that,in the event of the failure of the counterparty (e.g.,broker-dealer)to a transaction,a government
will not be able to recover the value of its investment or collateral securities that are in the possession of
another party.Wisconsin statutes require repurchase agreements to be fully collateralized by bonds or
securities issued or guaranteed by the federal government or its instrumentalities.The City does not have
an additional custodial credit risk policy.
Deposits with financial institutions are insured by the Federal Deposit Insurance Corporation (FDIC)in the
amount of $250,000 per official custodian through December 31,2009.In addition,the City's non-interest
bearing transaction accounts are fully insured under the Temporary Liquidity Guarantee Program through
December 31,2009.On January 1,2010,the coverage limit for all accounts will return to $100,000 for
interest bearing accounts and $100,000 for non-interest bearing accounts.In addition,the State of
Wisconsin has a State Guarantee Fund which provides a maximum of $400,000 per public depository
above the amount provided by an agency of the U.S.Government.However,due to the relatively small
size of the State Guarantee Fund in relation to the Fund's total coverage,total recovery of insured losses
may not be available.
As of December 31,2008,$28,993,849 of the City's deposits with financial institutions was in excess of
federal depository insurance limits and uncollateralized.
On December 31,2008,the City held repurchase agreement investments of $14,811,158 of which the
underlying securities are held by the investment counterparty,not in the name of the City.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Credit Risk
Generally,credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of
the investment.This is measured by the assignment of a rating by a nationally recognized statistical
rating organization.Wisconsin statutes limit investments in securities to the top two ratings assigned by
nationally recognized statistical rating organizations.The City does not have an additional credit risk
policy.Presented below is the actual rating as of year end for each investment type.
Investment Type Amount
Exempt
From
Disclosure
Ratings as of Year End
AAA Aa
Not
Rated
U.S.Treasury notes
U.S.Treasury bonds
Federal agencies
Money market
Mutual funds
Wisconsin local govemement
investment pool
Totals
S 265,626 $265,626 $-$
38,679,869 38,679.869
635,553 -635.553
1,686,691
188,306
33,060 -__-___
S 41.489.105 $38,945,495 $ 635,553 $
1,686,691
188.306
33,060
S 1,908,057
Concentration of Credit Risk
The investment policy of the City contains no limitations on the amount that can be invested in any one
issuer.Investments in any one issuer (other than U.S.Treasury securities,mutual funds,and external
investment pools)that represent 5%or more of total City investments are as follows:
Issuer Investment Type
Reported
Amount
Goldman Sachs Repurchase agreements $14,811,158
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment.Generally,the longer the maturity of an investment, the greater the sensitivity of its fair value
to changes in market interest rates.One of the ways that the City manages its exposure to interest rate
risk is by purchasing a combination of shorter term and longer term investments and by timing cash flows
from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time
as necessary to provide the cash flow and liquidity needed for operations.
Information about the sensitivity of the fair values of the City's investments to market interest rate
fluctuations is provided by the following table that shows the distribution of the City's investments by
maturity:
Investment Type
U.S.Treasury notes
U.S.Treasury bonds
Federal agencies
Money market
Mutual funds
Repurchase agreements
Wisconsin local govemement
investment pool
Totals
Amount
$265,626
38,679,869
635,553
1.686,691
188.306
14,811,158
33,060
$56,300,263
Remaining Maturity (in Months)
12 months
or Less
13 to 24
Months
25 to 60
Months
More Than
60 Months
$265,626 $S -$
34,032,808 4,647,061
635,553
1,686,691
188,306
14,811.158
33,060
$51.653.202 $4.647,061 $-$
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Investments with Fair Values Highly Sensitive to Interest Rate Fluctuations
The City's investments do not include investments that are highly sensitive to interest rate fluctuations.
Investment in Wisconsin Local Government Investment Pool
The City has investments in the Wisconsin local government investment pool of $33,060 at year-end.
The Wisconsin local government investment pool (LGIP)is part of the State Investment Fund (SIF),and is
managed by the State of Wisconsin Investment Board.The SIF is not registered with the Securities and
Exchange Commission,but operates under the statutory authority of Wisconsin Chapter 25.The SIF
reports the fair value of its underlying assets annually.Participants in the LGIP have the right to withdraw
their funds in total on one day's notice.At December 31,2008,the fair value of the City's share of the
LGIP's assets was substantially equal to the carrying value.
Investments in the Wisconsin Local Government Investment Pool are covered under a surety bond issued
by Financial Security Assurance,Inc.,which is in effect through February 15,2009.The bond insures
against losses arising from principal defaults on substantially all types of securities acquired by the pool.
The bond provides unlimited coverage on principal losses,reduced by any FDIC,State of Wisconsin
Guarantee Fund insurance,and income on the investment during the calendar quarter a loss occurs.
Component Units
The Housing Authority,as a component unit of the City of Oshkosh,also maintains separate cash and
investment accounts as detailed below:
Demand deposits
At June 30,2008,the carrying amount of the Authority's demand deposits was $489,769 and the
bank balance was $71,013.Of the bank balance,$250,000 was covered by Federal depository
insurance,$150,000 was covered by the State of Wisconsin Public Deposit Guarantee Fund and $0
was uninsured and uncollateralized.
Investments
At June 30,2008,the carrying amount of the Authority's deposits was $1,159,377 and the bank
balance was $1,578,133.None of this balance was covered by federal depository insurance of the
State of Wisconsin Public Deposit Guarantee Fund.
The Redevelopment Authority,as a component unit of the City of Oshkosh,also maintains separate cash
accounts.At December 31,2008,the carrying amount of the Authority's deposits was $2,788,095 and
the bank balance was $2,788,095.Of the bank balance,$250,000 was covered by federal depository
insurance,$400,000 was covered by the State of Wisconsin Public Deposit Guarantee Fund,and
$2,388,095 was uninsured and uncollateralized.
On December 31,2008,the Authority held U.S.Treasury Obligations of $2,314,402.These obligations
carry a credit rating of AAA and will mature within 12 months.
2.Restricted Assets
Restricted assets on December 31,2008 totaled $14,233,300 and consisted entirely of cash and
investments.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
3.Property Taxes
Property taxes are recorded in the year levied as receivables and deferred revenues in the Agency
Funds.They are recognized in the appropriate funds as revenues in the succeeding year when services
financed by the levy are provided.In addition to property taxes for the municipality,taxes are collected for
and remitted to the State and County governments as well as the local and vocational school districts.
Taxes for all State and local governmental units billed in the current year for the succeeding year are
reflected as due to other governments on the accompanying balance sheet.Taxes are levied in
December on the assessed value as of the prior January 1.
Property tax calendar -2008 tax roll:
Lien date and levy date
Tax bills mailed
Payment in full,or:
First installment due
Second installment due
Third installment due
Fourth installment due
Personal property taxes in full
Tax settlements:
Initial settlement
Second,third and fourth settlement
Final settlement
Tax deed by County -
2008 delinquent real estate taxes
December 1,2008
December 1,2008
January 31,2009
March 31,2009
May 31,2009
July 31,2009
January 31,2009
January 15,2009
20 days after the collection date
August 20.2009
October 1,2012
Property Tax Lew Limit
Wisconsin Act 25,effective July 27,2005,imposes a limit on the property tax levies for all Wisconsin
cities,villages,towns and counties for a two-year period.Wisconsin State Budget bill SB40 continues the
limit on property tax levies through 2009.The budget bill limits the increase in the maximum allowable
tax levy to the greater of the percentage change in the City's January 1 equalized value as a result of net
new construction or 3.86%in the 2008 budget and 2.0%in the 2009 budget.The actual limit for the City
for the 2009 budget was 2.397%.The levy limit is applied to both operations and debt service.However,
the Act allows the limit to be increased for debt service authorized prior to July 1,2005 and in certain
other situations.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
4.Capital Assets
Capital asset activity for the year ended December 31,2008 was as follows:
Primary Government
Governmental activities:
Capital assets not being depreciated
Land
Total capital assets not being depreciated
Capita!assets being depreciated
Buildings and systems
Infrastructures
Machinery and equipment
Total assets being depreciated
Less accumulated depreciation for:
Buildings and systems
Infrastructures
Machinery and equipment
Total accumulated depreciation
Total capital assets being depreciated,net
Governmental activities capital assets,net
Beginning
Balance
S 14,724,629
14,724,629
39,145.926
76,307.139
41.553.160
157.006.225
7,863.569
35,233,360
20.524.883
63,621,812
93,384.413
$108,109,042
Increases
S 28,972
28.972
1.395.856
3.320,399
2.033.981
6,750,236
855,291
4,299.630
2.159.325
7.314.246
(564,010)
$(535.038)
Decreases
S
249,811
3.174,459
973.363
4.397.633
179,560
3.178,719
959.182
4,317,461
80,172
$80.172
Ending
Balance
S 14.753.601
14.753,601
40,291,971
76.453,079
42,613,778
159,358,828
8.539.300
36.354.271
21.725.026
66,618,597
92,740,231
$107,493.832
Depreciation expense was charged to functions of the primary government as follows:
Governmental activities:
General government
Public safety
Public works
Parks and recreation
Community development
Total depreciation expense -governmental activities
310.718
806.194
5.043.222
1.113,720
118.283
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Primary Government
Business-type activities:
Capital assets not being depreciated
Land
Construction in progress
Total capital assets not being depreciated
Capital assets being depreciated
Buildings,systems,&land improvements
Machinery and equipment
Total assets being depreciated
Less accumulated depreciation for:
Buildings,systems,&land improvements
Machinery and equipment
Total accumulated depreciation
Total capital assets being depreciated,net
Business-type activities capital assets,net
Depreciation expense was charged to functions of the primary government as follows:
Beginning
Balance
$33,162,611
11,204.485
44.367.096
171.085.997
36.053.542
207.139.539
41,766,085
23,610,150
65,376,235
141.763,304
$186,130,400
Increases
S 1.569,514
3,175,197
4.744.711
16,082,310
948,414
17,030,724
4.149,836
1,906.227
6,056.063
10,974.661
515,719.372
Decreases
S
3,236,648
3.236.648
462,685
88.291
550,976
462,685
68.291
550.976
S3.236.648
Ending
Balance
S 34,732,125
11.143.034
45.875.159
186,705,622
36,913.665
223,619,287
45,453,236
25,428.086
70,881.322
152.737.965
S 198.613.124
Business-type activities:
Transit utility
Water utility
Sewer utility
Other
S 359.232
3.127,365
2.121,511
353,736
Total depreciation expense -business-type activities $5.961.844
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
5.Notes receivable
Notes receivable of $3,210,125 in the Capital Projects Fund represents noninterest bearing loans made
to City residents as part of the City's participation in the Community Block Grant Program for residential
rehabilitation.These notes are payable to the City at the time the property is sold or at the time the
property is no longer occupied by the owner and is due to the funding agency upon termination of the
program.
6.Long-term Obligations
The following is a summary of changes in long-term obligations of the City for the year ended December
31,2008:
Governmental activities:
General obligation bonds and notes
Total bonds and notes payable
Other liabilities
Unused vacation and sick leave credits
Accrued OPEB obligation
Unfunded pension liability
Total other liabilities
Governmental activities long-term obligations
Business-type activities:
Bonds payable
General obligation debt
Revenue bond
Less deferred amount on refundings
Total bonds and notes payable
Beginning
Balance
S 64.952.651
64.952.651
2,661.427
9.021,451
11.682,878
S 76.635.529
S 68,127.403
52,844.125
120.971,528
(1.313,903)
119,657,625
Additions
S 7.154.145
7.154.145
227,583
989,777
671,503
1,888,863
S 9.043.008
S 3.889.670
5.754,824
9,644,494
9.644.494
Reductions
S 18.851.940
18.861.940
228,311
418,861
647,172
$19.509,112
S 5,577.124
8.510.209
14,087.333
(195.971)
13.891,362
Ending
Balance
S 53.244,856
53.244.856
2.889.010
761.466
9.274,093
12,924.569
$66.169.425
S 66.439.949
50.088.740
116,528,689
(1.117,932)
115.410,757
Due Within
One Year
S 5.237.866
5.237.866
419.000
419.000
S 5,656,866
S 6.590.082
4.314.828
10.904.910
10,904.910
Other liabilities
Unused vacation and sick leave credits 723.970
Business-type activities long-term obligations $120.381,595
505,104 490.935 738,139
Total interest paid during the year on long-term debt totaled $7,346,419.
490.510
$10.149,598 S 14,382.297 $116.148,896 S 11.395.420
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31.2008
General Obligation Debt
General obligation debt currently outstanding is detailed as follows:
Type
Refunding bonds:
Corporate purpose bonds:
Promissory notes:
Date of Issue
7/15/2003
7/15/2003
9/1/2005
12/28/2006
3/1/1999
3/1/1999
3/1/2002
3/1/2002
2/1/2003
2/1/2003
3/1/2004
2/8/2005
3/1/2006
3/1/2006
3/1/2007
3/1/2008
3/1/2000
10/1/2000
3/1/2001
3/1/2002
5/15/2002
2/1/2003
3/19/2003
7/2/2003
9/15/2003
9/24/2003
3/1/2004
11/23/2004
12/7/2004
9/15/2004
2/8/2005
5/31/2005
12/20/2005
12/20/2005
3/1/2006
3/1/2007
3/1/2008
1/29/2008
11/18/2008
12/30/2008
Interest rate
2.00-5.00
2-00 -5.00
3.75-4.125
4 00
4.00-4.80
4.10-5.00
4.70-5.05
4.00-6.80
2.50-5.00
3.25-6.00
3.00-5 75
3.25-4.50
4.0-4.5
5.15-5.40
4.0-5.0
4.0-4 75
5.34
4.84
4 00-5.00
4.78
5.00
2 13-3.80
5.00
5.00
2 00-3.63
5.00
Principal
payable
3/15/04-23
3/15/04-21
12/1/06-20
12/1/07 -14
12/1/99-16
12/1/00-18
12/1/03-21
12/1/03-21
12/1/05-22
12/1/05-22
12/1/05-23
12/1/06-24
12/1/07-25
12/1/07-25
12/1/08-26
12/1/09-27
12/01/01-09
12/01/01 -09
12/01/02-10
12/1/03-11
3/15/03 -22
12/1/04-12
3/15/04 -23
3/15/04-23
12/1/04-10
3/15/05-23
2.00-4.0012/1/2005-13
5.00
5.00
5.00
3.00-3.50
5.00
4.50
4.50
3.65-4.0
4.00
3.25-4.0
5.25
4.75
4.50
3/15/06-24
3/15/06-24
3/15/06-24
12/1/06-14
3/15/07-25
3/15/07-25
3/15/07-25
12/1/07-15
12/1/08-16
12/1/09- 17
3/15/09 -27
3/15/10 -20
3/15/10 -18
Interest
payable
6/15-12/15
6/15-12/15
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
6/1 -12/1
3/15
6/1 -12/1
3/15
3/15
6/1 -12/1
3/15
6/1 -12/1
3/15
3/15
3/15
6/1 -12/1
3/15
3/15
3/15
6/1 -12/1
6/1 -12/1
6/1 -12/1
3/15
3/15
3/15
Original
amount
8,615.000
1.050,000
18.335,000
11.865,000
4,540,000
3.560,000
11.225,000
7.580,000
11.675.000
1.420.000
6.480.000
7.395.000
9.265,000
1.995,000
7,950,000
5.105,000
2.210.000
1.500.000
2,110.000
2.260,000
1,012.000
2,615,000
375,000
1.365.720
4.380,000
226,000
1,565,000
1,200,000
99,000
100,000
2,540,000
200,000
1,163,000
656,000
2,500,000
3,375,000
1,565,000
1.419,815
1,832.000
1,122,000
Balance
outstanding
December 31.
2008
$5,580.000
635.000
16.140.000
7.130,000
2.305,000
2.055,000
9.060.000
6,225.000
9,750.000
1.200,000
5.615.000
6.545.000
8.605,000
1.860,000
7,670,000
5,105,000
310.000
1,070,000
565,000
885,000
797,730
1,290,000
312,385
1,121,503
750.000
198,495
945,000
1,091,922
89.921
91.802
1.775.000
179,126
1.092,098
616,008
2,020,000
3,065,000
1.565.000
1.419,815
1,832,000
1,122.000
Less amounts related to Enterprise Fund
119,684.805
66.439,949
$53,244,856
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Enterprise Fund -Revenue Bonds
The city has issued Revenue Bonds as detailed below.These bonds are considered special obligations
of the City payable solely from net revenues of the respective Utility's Systems and do not constitute debt
which the faith and credit or taxing powers of the City are pledged.In accordance with the resolutions
which authorized the issuance of the debt issues,the City covenanted with the bondholders to,among
other things,faithfully and punctually perform all duties with reference to the respective Utilities required
by the Constitution and Statutes of the State of Wisconsin,including the making and collecting of
reasonable and sufficient rates lawfully established for services rendered by the respective Utilities,and
to segregate the revenues of the respective Utilities and apply them to the respective funds described in
the authorizing Resolution.In addition,the borrowing resolution included restrictive investment provisions
requiring fully insured or collateralized investments.
Type
Sewerage System Revenue
Bonds
Year
of
Issue
1993 &1994
I nterest
Rate
384
Principal
payable
Interest
payable
5/01/94-12 5/1 &11/1
Original
amount
Balance
outstanding
December 31.
2008
2.881.401 S 792,690
Sewerage System Revenue
Bonds 1995(0 1997 321 5/01/96-15 5/1 &11/1 17.631.411 7.342.376
Water Safe Drinking
Revenue Bond 1998 2.64 5/01/99-19 5/1 &11/1 11,913.672 6.998,716
Sewerage System Revenue
Clean Water
Water Safe Drinking Revenue
Bond
Water Safe Drinking
Revenue Bond
Water Utility Revenue
Refunding Bonds
Water Utility Revenue Bond
Oshkosh Utility Revenue
Bond
Storm Water Revenue
Bond
Water Utility Revenue Bond
Water Safe Drinking
Revenue Bond
1999 2.64 5/01/00-19 5/1 &11/1 3.025.930 1.956,418
2000 2.97 5/01/01-19 5/1 &11/1 13.636.364 8.799.807
2001 2.75 5/01/02-21 5/1 &11/1 3.483.913 2.472,586
2003
2004
2004
2005
2006
2008
2.50 -3.90
2.396
2.40 -5.20
3.50-4.625
4.0-4.5
2.37
1/01/05-12
5/01/05 -24
01/01/05-11
5/01/06 -25
1/01/07-26
5/01/10-28
1/1
5/1
1/1
5/1
1/1
5/1
&
&
&
&
&
&
7/1
11/1
7/1
11/1
7/1
11/1
2.065.000
1.989,231
2,065,000
4.820.000
12.705.000
1.344,824
680,000
2.851,323
635,000
4.295.000
11.920.000
1.344.824
$50,088,740
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
A summary of the type and individual Enterprise Funds debt is presented below:
General obligation debt
Revenue bond
Total
Balance
December 31,
2007
$68.127,403
52.844.125
$120,971.528
Balance
December 31,
2007
$30,149.769
45,671,383
441,627
385.087
1,232,360
32.122,646
1.165,000
930,000
8,873.656
120,971,528
(9,538.748)
(1,313,903)
S 110.118,877
Additions
$3.889,670
5,754,824
$9,644,494
Additions
$
5,754,824
-
-
1.665.170
372.500
20.000
1,832,000
-
$9,644,494
S
S
S
$
Payments
5,577,124
8.510.209
14,087,333
Payments
3.040,300
7.671.006
92.505
51.143
233,629
2198,555
72,296
295,000
432.899
14.087,333
Balance
December 31,
2008
S 66.439.949
50.088.740
S 116.528,689
Balance
December 31,
2008
$27.109.469
43,755.201
349,122
333,944
2.663,901
30.296.591
1,112.704
2,467.000
8,440,757
116,528,689
(10,904.910)
(1.117.932)
$104,505.847
Enterprises Funds:
Sewer Utility
Water Utility
Transit Utility
Parking Utility
Industrial Park
TIF Districts
Golf course
Oshkosh Redevelopment
Storm Water
Total
Less:
Current portion
Una mortized expense
Long-term debt,net
Utility Revenues Pledged
The City has pledged future water,sewer,and storm water customer revenues,net of specified operating
expense,to repay the water,sewer,and storm water revenue bonds.Proceeds from the bonds provided
financing for the construction or acquisition of capital assets used with the sewer system,water utility,and
storm water utility.The bonds are payable solely from water,sewer,and storm water net revenues and
are payable ranging from 2012 through 2028.The total principal and interest remaining to be paid on the
bonds is $61,853,112.Principal and interest paid for the current year and total customer net revenues
were $5,895,260 and $23,968,615,respectively.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Annual principal and interest maturities of the outstanding debt on December 31,2008 are detailed
below:
2009
2010
2011
2012
2013
2014-2018
2019-2023
2024-2028
Principal
$16,142,776
14,951.110
13.950,223
13.355.800
12,200.361
54,784.097
35,303.875
9,085,303
$169,773,545
Interest
$6.713.579
6.275.879
5.674,683
5,135,822
4,616,782
16,219,046
6,109,990
715.570
S 51,461.351
Total
$22.856.355
21.226.989
19,624,906
18.491.622
16.817,143
71.003,143
41,413,865
9.800.873
$221,234,896
Total
Outstanding
December 31.
S 169.773,545
153.630.769
138.679.659
124,729.436
111,373,636
99,173.275
44,389.178
9,085.303
For the governmental activities,the other long-term liabilities are generally liquidated by the general fund.
Legal Margin for New Debt
The City's legal margin for creation of additional general obligation debt on December 31,2008 is as
follows:
Equalized valuation
Margin of indebtedness:
5%of equalized valuation
Less outstanding general obligation debt
Deduct Debt Service Funds available for debt retirement
Margin of indebtedness
$119,684.805
1.814.545
$3.565,689,900
S 178,284,495
117,870.260
$60.414,235
The City has approved the issuance of industrial revenue bonds (IRB)for the benefit of private business
enterprises.IRBs are secured by mortgages or revenue agreements on the associated projects and do
not constitute indebtedness of the City.Accordingly,the bonds are not reported as liabilities in the
accompanying financial statements.The amount of IRBs outstanding at the end of the year is maintained
by the individual private business enterprises and the lending institutions.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Component Unit Long-term Debt
Information relating to the outstanding long-term debt is as follows:
Housing Authority
Type
First mortgage notes payable:
Wisconsin Housing Partnership Loan
WHEDA WRAP Loan
Balance
Date of Interest Maturity Original Outstanding
issue rate date amount June 30.2008
12/1/1978 6.97%1/1/2019
6.71%
5.84%
7/15/1988 0.00%1/1/2018
8/1/1990 0.00%9/1/2010
10/1/1995 0.00%10/1/2015
14,710
15.000
29,200
$
$
127,549
82.257
45.452
14.710
15.000
29.200
314,168
Annual principal maturities of the outstanding debt on June 30.2008 are detailed below:
Year ending June 30.
2009
2010
2011
2012
2013
Thereafter
s
$
57.618
28.027
13.976
14.912
15.941
183,694
314,168
Redevelopment Authority
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Type
Taxable redevelopment
lease revenue bonds
B la nee
Original outstanding
Date of Issue Interest rate Maturity date amount 12/31/08
6/20/2006 6.25%6/20/2031 S 6.360.000 S 6.360,000
Less deferred charges (199.6701
$6.160.330
Annual principal maturities of the outstanding debt on December 31,2008 are detailed below:
Year ending December 30.
2010-2024
Thereafter
7.Interfund Balances and Activity
Interfund receivables and payables at December 31,2008 were as follows:
S
6.360.000
$6.360.000
General fund
Capital projects fund
Special revenue fund
Total governmental activities
Parking utility fund
Water utility fund
Sewer utility fund
Storm water utility
Transit utility fund
Other enterprise funds
Total business-type activities
Totals
Due From
Other Funds
S 3,052.245
6,298,445
9,350,690
8,951
469,123
162,232
94,155
734.461
$10,085,151
Due To
Other Funds
$239.622
1,618,153
355
1,858.130
177,731
1,360,508
4,702,783
1,118,563
388,654
478,782
8.227.021
$10,085,151
Net Due to Other
Funds on Statement
of Activities
$2,812,623
4.680,292
(355)
7,492.560
(168,780)
(891.385)
(4,540,551)
(1,024,408)
(388.654)
(478,782)
(7,492.560)
$
The outstanding balances between funds result mainly from the time lag between the dates that 1)
interfund goods and services are provided or reimbursable expenditures occur,2)transactions are
recorded in the accounting system,and 3)payments between funds are made.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Transfers within the reporting entity are substantially for the purposes of subsidizing operating functions,
funding capital acquisitions or maintaining debt service on a routine basis.Resources are accumulated in
a fund to support and simplify the administration of various projects.
The government-wide statement of activities eliminates as reported within the segregated governmental
and business-type activities columns.Only transfers between the two columns appear in this statement.
The following schedule reports transfers within the reporting entity:
Transfer to
Transfers from
Governmental activities:
General fund
Debt service fund
Other funds
Governmental Activities
General
$
8,594.137
74,390
Debt Service
$.$
Other
20,208
Business-type
Activities
$309.407
15,000
$
Total
309,407
8,594,137
109,598
Business-type activities:-
Total transfers to:$8,668.527 $20.208 S 324.407 S 9,013.142
8.Fund Equity
Government Statements
Equity is classified as net assets and displayed in three components:
a.Invested in capital assets,net of related debt -Amount of capital assets,net of accumulated
depreciation,less outstanding balances of any bonds,mortgages,notes,or other borrowings that are
attributable to the acquisition,construction,or improvement of those assets.
b.Restricted net assets -Amount of net assets that are subject to restrictions that are imposed by
1)external groups,such as creditors,grantors,contributors or laws or regulations of other
governments or 2)law through constitutional provisions or enabling legislation.
c.Unrestricted net assets -Net assets that are neither classified as restricted nor as invested in capital
assets,net of related debt.
Net assets of the governmental activities reported on the government-wide statement of net assets at
December 31,2008 include the following:
Invested in capital assets,net of related debt
Capital assets,net
Less:related long-term debt outstanding
Plus:Unused borrowed funds
Total Invested in Capital Assets,Net of Related Debt
Restricted
Debt service
Unrestricted
Total Governmental Activities Net Assets
$107,493,832
53,244,856
4,989.533
59,238,509
1,814,545
1,435,588
62,488,642
$
$
$
1
4
15
,814
.989
.117
,545
,533
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
Fund Statements
In the fund financial statements,portions of governmental fund balances are reserved and not available
for appropriation or are legally restricted for use for a specific purpose. At December 31,2008,fund
balance was reserved as follows:
General Funds
Reserved for inventories and prepaids
Debt Service Fund
Reserved for debt retirement
Other Governmental Funds
Reserved for capital projects
NOTE D -OTHER INFORMATION
1.Retirement Commitments
All eligible City employees participate in the Wisconsin Retirement System (WRS),a cost-sharing
multiple-employer defined benefit,public employee retirement system.All permanent employees
expected to work at least 600 hours a year (440 hours for teachers)are eligible to participate in the WRS.
Covered employees in the General/Teacher/Educational Support Personnel category are required by
statute to contribute 6.0%of their salary (3.0%for Executives and Elected Officials,5.1%for Protective
Occupations with Social Security,and 3.4%for Protective Occupations without Social Security)to the
plan.Employers may make these contributions to the plan on behalf of employees.Employers are
required to contribute an actuarially determined amount necessary to fund the remaining projected cost of
future benefits.
The payroll for City employees covered by the WRS for the year ended December 31,2008 was $30.4
million;the employer's total payroll was $32.3 million.The total required contribution for the year ended
December 31,2008 was S4.4 million,which consisted of $1.6 million,or 5.1%of covered payroll from the
employer and $2.8 million or 8.6%of covered payroll from employees.The required contribution for
employees for the year ended December 31,2008 was financed by the City.Total contributions for the
years ending December 31,2007 and 2006 were $4.2 million and $4.2 million,respectively,equal to the
required contributions for each year.
Employees who retire at or after age 65 (62 for elected officials and 54 for protective occupation
employees with less than 25 years of service,53 for protective occupation employees with more than 25
years of service)are entitled to receive a retirement benefit.Employees may retire at age 55 (50 for
protective occupation employees)and receive actuarially reduced benefits.The factors influencing the
benefit are:(1)final average earnings,(2)years of creditable service,and (3)a formula factor.Final
average earnings are the average of the employee's three highest year's earnings.Employees
terminating covered employment and submitting application before becoming eligible for a retirement
benefit may withdraw their contributions and,by doing so,forfeit all rights to any subsequent benefit.For
employees beginning participation on or after January 1,1990 and no longer actively employed on or
after April 24,1998,creditable service in each of five years is required for eligibility for a retirement
annuity.Participants employed prior to 1990 or after April 24,1998 are immediately vested.
The WRS also provides death and disability benefits for employees.Eligibility and the amount of all
benefits are determined under Chapter 40 of Wisconsin Statutes.
The WRS issues an annual financial report,which may be obtained by writing to the Department of
Employee Trust Funds, P.O.Box 7931,Madison,Wl 53707-7931.
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
2.Unfunded Pension Liability
The City's unfunded pension liability of $9.3 million on December 31,2008 is an actuarially computed
liability by the Wisconsin Retirement System (WRS)resulting from increases in employee pension
benefits that exceeded actual prior years"contributions by the City to the WRS.The liability was originally
calculated by the WRS as of January 1,1990.Since that time,the City has been making additional
monthly payments to the WRS in order to amortize the liability over a 40 year period.In addition,the City
is charged 7.8%interest per year on the unpaid balance.As a result,the outstanding balance of the
liability may increase annually if payments made by the City to the WRS are less than the interest
charged.The WRS's 40 year amortization schedule from 1990 anticipates that the unfunded pension
liability will not be reduced annually for approximately the first 20 years of the schedule.
3.Other Post Retirement Benefits
A.Police-Fire Pension Fund
The City currently provides contributions to the Wisconsin Retirement Fund for employees
formerly covered under the City sponsored and administered Police -Fire pension fund.In
accordance with the statute terminating the pension funds,the City chose a "pay-as-you-go"
basis for pension contributions in which payments are made to the Wisconsin Retirement Fund as
the benefits become due and payable to the participants of the old plan.The total expense for
2008 was $124,610.The total estimated future cost to the City of this plan as of December 31,
2008 is not determinable.
The City provides certain health care benefits for retired police supervisory employees.These
employees may become eligible for those benefits if they reach normal retirement age while
working for the City.The cost of retiree health care benefits is financed on a pay-as-you-go
basis.This benefit was a recently negotiated contract provision;consequently,no costs were
incurred for this benefit in 2008.
B.Health Care
Plan Description -The City provides health care insurance coverage for employees who retire
until they reach the age of 65.The retired employee contributes 100%of the premium for family
coverage or 100%of the premium for single coverage.There are 524 active and 58 retired
employees in the plan.
Annual OPEB Cost and Net OPEB Obligation -The City's annual other post-employment benefit
(OPEB)cost (expense)is calculated based on the annual required contribution (ARC),and the
amount actuarially determined in accordance with the parameters of GASB Statement 45.The
ARC represents a level of funding that,if paid on an ongoing basis,is projected to cover normal
cost each year and amortize any unfunded actuarial liabilities over a period not to exceed thirty
years.The following table shows the components of the City's annual OPEB cost for the year,
the amount actually contributed to the plan,and changes in the City's net OPEB obligation.
|Component |Amount |
Annual required contribution $989,777
Interest on net OPEB
Adjustment to annual required contribution :__
Annual OPEB cost (expense)989,777
Contributions made (228,311)
Change in net OPEB obligation 761,466
OPEB obligation -January 1 -__
OPEB obligation -December 31 $761,466
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
The annual required contribution for the current year was determined as part of the January 1,
2008 actuarial valuation using the unit credit actuarial cost method.The actuarial assumptions
included (a)4.0%discount rate,and (b)medical trend rate with initial rate at 11.0%and ultimate
rate at 4.0%.
The actuarial methods and assumptions used include techniques that are designed to reduce the
effect of short-term volatility in actuarial accrued liabilities and the actuarial value of assets,
consistent with a long-term perspective of the calculations.The unfunded actuarial accrued
liability is being amortized of projected net retiree medical claims cost (and net administrative
costs).The remaining amortization period at December 31,2008 is 29 years,and the remaining
amount is $9,534,561.
Trend Information -The City's annual OPEB cost,the percentage of the annual OPEB cost
contributed to the plan,and the net OPEB obligation for 2008 is as follows:
Year
Ended
Annual
OPEB
Cost
Percentage
of Annual
OPEB Cost
Contributed
Net OPEB
Obligation
12/31/2008 S 989,777 23.07%$761,466
Funded Status and Funding Progress -As of January 1,2008,the most recent actuarial valuation
date,the City's unfunded actuarial accrued liability (UAAL)was $9,534,561.
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future,such as
assumptions about future terminations,mortality,and healthcare cost trends.Actuarially
determined amounts are subject to continual revision as actuarial results are compared with past
experience and new estimates are made about the future.
The City will not directly pay out the benefit amount since the retirees pay their entire premium.
The benefit that the retirees receive gets wrapped into the City's annual premiums.
Actuarial Methods and Assumptions -Projections of benefits for financial reporting purposes are
based on the substantive plan (the plan as understood by the employer and plan members)and
include the types of benefits provided at the time of each valuation and the historical pattern of
sharing of benefit costs between the employer and plan members to that point.The actuarial
methods and assumptions used include techniques that are designed to reduce the effect of
short-term volatility in actuarial accrued liabilities and the actuarial value of assets,consistent with
the long-term perspective of the calculations.Additional information as of the latest actuarial
valuation follows:
Valuation date
Actuarial cost method
Amortization method
Remaining amortization period
Actuarial assumptions -
Investment rate of return
Medical trend rate
December 31.2007
Unit Credit
Level
29 years
initial -
ultimate -
4.0%
11.0%
4.0%
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
4.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;and natural disasters for which the government carries commercial insurance.The
City completes an annual review of its insurance coverage to ensure adequate coverage.
5.Contingencies
A.The City participates in a number of federal and state assisted grant programs.These programs are
subject to program compliance audits by the grantors or their representatives.Accordingly,the City's
compliance with applicable grant requirements will be established at some future date.The amount,
if any,of expenditures which may be disallowed by the granting agencies cannot be determined at
this time although the City expects such amounts,if any,to be immaterial.
B.From time to time,the City is party to other various pending claims and legal proceedings.Although
the outcome of such matters cannot be forecast with certainty,it is the opinion of management and
legal counsel that the likelihood is remote that any such claims or proceedings will have a material
adverse effect on the City's financial position or results of operations.
6.Self-insured medical care coverage plan
The City maintains a self-insured medical care coverage plan for its employees.The City has established
the Hospital Insurance Fund (an Internal Service Fund)to account for the financing of its uninsured risked
of loss.Under this program,the Hospital Insurance Fund provides coverage up to a maximum of 575,000
per contract.The City purchases commercial insurance for claims in excess of coverage provided by the
Fund.
All funds of the City participate in the program and are charged amounts needed to pay prior -and
current -year claims and to establish a reserve for future insurance costs.That reserve was $2,517,520
at December 31,2008 and is reported as the net assets balance of the Internal Service Fund.The claims
liability of $800,000,reported in the Fund at December 31,2008,is based on the requirements of
Governmental Accounting Standard Board Statement No.10,which requires that a liability for claims be
reported if information prior to the issuance of the financial statements indicates that it is probable that a
liability has been incurred at the date of the financial statements and the amount of the loss can be
reasonably estimated.Changes in the Funds'claims liability amount in 2008 were:
Beginning of fiscal
Year liability
Current year claims
And changes in
Estimates Claim payments
Balance at fiscal
End
year
$800,000 $7,221,058 $7,221,058 $800,000
CITY OF OSHKOSH
OSHKOSH,WISCONSIN
Notes to Basic Financial Statements
December 31,2008
7.Subsequent events
During 2009,the City issued the following debt:
A.On April 9,2009,the City issued $1,322,463 of general obligation promissory notes with principal
amounts due annually through March 2019.Interest rate on the issue is 4.50%.
B.On April 28,2009.the City issued $16,740,000 of general obligation corporate purpose bonds
with principal amounts due annually through December 2028.Interest rates on the issue range
from 2.00%to 5.75%.
C.On April 28.2009,the city issued $2,945,000 of general obligation promissory notes with principal
amounts due annually through December 2018.Interest rates on the issue range from 2 00%to
4.50%.
8.Segment Information
CITY OF OSHKOSH.WISCONSIN
NOTES TO FINANCIAL STATEMENTS.CONTINUED
December 31.2008
Operating revenues
Operating expenses before
dsprecisiUon/ainortization
Depreciation/ainQrtization
Operating income (loss)
Capita)contributions
Tax revenues
Intergovernmental revenues
Net income (loss)
Net property,plant and equipment additions
Net working capital (negative)
Total assets
Restricted assets
Net assets
Invested in capital assets,net of related debt
Unrestricted
Grand
Opera
House
S
99.867
37,086
(136.953)
-
66.557
•
(70.396)
-
(52.901)
2.199.349
-
2.199.349
(52,901)
Algoma/Church
DeKox
Complex
S 33.698
150.822
14.567
(131.691)
-
-
-
(131,691)
-
588.418
803,475
-
214.337
588.418
Parking
Utility
S 216,322
185,116
34.672
(1.466)
•
*
-
(13,266)
-
(144.079)
2.313.438
-
1.858.309
(77,235)
Transit
Utility
$685,116
4.476.694
359.232
(4.150.610)
-
109.011
3.641,160
(416,870)
-
(179.680)
3.018.696
-
2.113,636
(179.680)
Oshkosh
Redevelopment
Project
S 36.067
1.034.073
54.818
(1,052,824)
122.891
1,164,262
-
201.588
2.371.996
(520.159)
9.970.524
346.287
7,087.332
(183.081)
Industrial
Park
$2.645
25.209
-
(22.564)
-
-
■
169,394
1.102.857
(408.277)
5,962,560
-
2,994.413
154,381
Golf
Course
$491.938
492.121
23.903
(24.086)
♦
•
■
(80,828)
27.414
(1,415,141)
1.286.415
-
170,955
(340,844)
Other
TIF
Districts
S 190.607
211.536
-
(20.931)
-
5.454,591
229.263
3.972.490
656.405
9.733.547
33.240.333
-
2,975,708
Water
Utility
S 11.740,668
5,727,208
3.127.365
2.886,095
839.978
•
-
2.237,406
5.215.356
3.774,330
91.185.502
4.446.103
37,794.877
7.138.430
Sewer
Utility
S 9,353.241
5.192.412
2.121.511
2,039.318
1,112.749
-
•
2,423,746
5.174.361
(916.931)
80.112.597
7,885.743
45.802.067
1.966.328
Storm
Water
Utility
$2,874,706
1.198.080
188.690
1.487.936
242.735
-
-
1.548.816
1.634.438
4.380,838
20.818,966
1.555.167
6.357,298
4.699.751
Total
525,627,008
18.793.140
5,961,844
872.024
2,318,353
6.794,421
3,870.423
9.840.389
16.182.827
14,839,965
250,911.855
14.233.300
106.592,573
16.689.275
REQUIRED SUPPLEMENTAL INFORMATION
CITY OF OSHKOSH
Oshkosh,Wisconson
Schedule of Other Post Employement Benefit Plan Information
December 31,2008
Schedule of Funding Progress
Actuarial
Valuation
Date
December 31,
(D
Actuarial
Value of
Assets
(2)
Actuarial
Accrued
Liability
(AAL)Entry
Age Normal
(3)
Funded
Ratio
d)/(2)
(4)
Unfunded
Actuarial
Accrued
Liability
(UAAL)
(2)-(1)
(5)
Covered
Payroll
UAAL
as a
Percentage
of Covered
Payroll
(4)/(5)
2007 S 9,534,561 0.00%$9,534,561 N/A N/A
Schedule of Employer Contributions
Year Ended
December 31,Employer Contributions
Annual Required Contribution
(ARC)Percentage Contributed
2008 228,311 $989,777 23.1%
The City implemented GASB Statement No.45 for the fiscal year beginning January 1,2008.Information for prior
years is not available.
OTHER SUPPLEMENTAL INFORMATION
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Balance Sheet
Nonmajor Governmental Funds
December 31,2008
Special
Revenue
Funds
Capital
Projects
Funds
Total
Nonmajor
Governmental
Funds
ASSETS
Cash and investments
Receivables
Special assessment
Accounts
Due from other funds
Due from other governments
Notes receivable
TOTAL ASSETS
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable
Deferred revenues
Deposits
Due to other funds
Due to other governments
Total Liabilites
Fund Balances
Reserved for
Construction of assets
Unreserved
Undesignated,reported in
Special revenue funds
Total Fund Balances
TOTAL LIABILITIES AND
FUND BALANCES
$3,905,497
149,030
-
-
-
$4,054,527
$373,440
-
10.000
355
-
383,795
3.670,732
3,670.732
$4.054.527
$6,692,526
3,001,690
806.770
6.298,445
346.941
3,210.125
$20.356.497
S 6,322,255
3,157,661
1,058,770
1.618,153
3,210,125
15,366,964
4.989,533
-
4.989,533
$20.356.497
$
$
$
$
10,598.023
3,001,690
955.800
6,298.445
346.941
3,210,125
24,411,024
6,695,695
3.157,661
1,068.770
1.618.508
3,210.125
15,750,759
4,989,533
3.670.732
8,660.265
24,411,024
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Statement of Revenues,Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended December 31,2008
Special
Revenue
Funds
Capital
Project
Funds
Total
Nonmajor
Governmental
Funds
Revenues
Taxes
Special assessments
Intergovernmental
Licenses and permits
Public charges for services
Miscellaneous
Total Revenues
Expenditures
Current
Public safety
Public works
Health and welfare
Parks and recreation
Community development
Capital outlay
Total Expenditures
Excess of Revenues Over (Under)
Expenditures
Other Financing Sources (Uses)
Long-term debt issued
Transfers in
Transfers out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances -January 1
Fund Balances -December 31
S 6.662.940
-
884,410
82,159
1,790,524
1,705,770
11,125,803
130,113
2.239.372
1,047,247
5,491,692
845,049
220,409
9,973,882
1,151,921
.
11,458
(83,655)
(72,197)
1,079,724
2,591,008
S 3.670.732
S
1,811,474
734,609
-
144,417
115,150
2,805,650
-
-
-
-
2,989.267
4,243.770
7,233,037
(4,427,387)
6.931.551
8.750
(25.943)
6,914.358
2,486.971
2,502.562
S 4.989.533
$6.662,940
1,811.474
1,619,019
82,159
1,934,941
1,820,920
13,931,453
130,113
2.239.372
1.047,247
5.491,692
3.834,316
4.464,179
17.206,919
(3,275,466)
6.931.551
20.208
(109.598)
6.842.161
3,566.695
5.093.570
8.660.265
CITY OF OSHKOSH
Oshkosh.Wisconsin
Combining Statement of Net Assets
Nonmajor Other Proprietary Funds
December 31.2008
ASSETS
Current Assets
Cash and investments
Accounts receivable
Due from other funds
Inventories and prepayments
Tola)Current Assets
Noncurrent Assets
Restricted assets
Capitol Assets
Land and construction in progress
Other capital assets,net of accumulated
depreciation
Total Capital Assets,Net
Notes receivable
Deferred charges and deposits
Total Noncurrenl Assets
TOTAL ASSETS
LIABILITIES
Current Liabilities
Accounts payable
Accrued Expenses
Deposits
Due to other funds
Deferred revenues
Current portion of long-term obligations
Total Current Liabilities
Noncurrent Liabilities
Noncurrent portion of long-term obligations
Total Noncurrent Liabilities
TOTAL LIABILITIES
NET ASSETS
Invested in capital assets,net of related deb)
Unrestricted (deficit)
TOTAL NET ASSETS (DEFICIT)
Grand Opera
House
1
51.898
2.147,451
2,199.349
-
-
2.199.349
3.710
-
•
49.191
52.901
-
-
52.901
2.199.349
(52.001)
S 2146448
Algoma/
Church
$578.251
578 251
•
-
•
•
•
578.251
-
-
-
•
-
•
-
576,251
S 578.251
Deltox
Complex
S 10.887
10 887
214,337
214.337
-
-
225.224
720
-
-
■
720
-
720
214.337
10.167
._!_224.504^
Parking
Utility
$97.255
3.989
8.951
110 195
.
1.851.549
351.694
2.203.243
2.313,438
7.589
2.110
.
177.731
66.644
254.274
278.090
278.090
532.36a
1.858.309
(77.235)
5 1.781.074
Oshkosh
Redevelopment
Projecl
$129,376
259.738
TOO 4 4 A
346.287
3.217.183
G.990.B62
9.208.045
27.078
27.078
9.970524
594.273
5.000
310.000
909.273
2.157.000
2.157.000
3.066273
7.087.332
(183.081)
S 6.904.251
Industrial
Park
$
600
5.656.031
5 655.031
306,929
306.929
5.962,560
211
59.645
.
93.292
255,729
408,877
2.404.889
2.404.889
2.813.766
2.994,413
154,381
$3 148.794
Goll
Course
S 800
3,156
3.956
826.541
455,918
1.282,459
1.280.415
4.131
4.370
_
336.299
1.074.297
1.419.097
37.207
37.207
1.456.304
170,955
(340.844)
$<1G9.80O)
Storm Water
Utility
S 5.582.557
465,369
94.155
1,041
6,143.122
1.555.167
3.018.652
10.102,025
13.120.677
20.818.966
151.670
44.672
1.118.563
447.379
1,762.284
7.999,633
7.999.633
9.761.917
6,357.298
4,699.751
5 11.057.049
Other
TIF
Districts
$12,153.829
125.000
12.278,829
20.961,504
20.961.504
33.240,333
11.424
309.163
1.000
26.000
2.197,695
2.545,282
27.719,343
27.719.343
30.264.625
2.975.708
$2.97S.708
Total
$18.552.955
857.852
103,106
1.041
19,514,954
1.901.454
35,796.695
19,047.950
54.844,645
306 929
27.078
334.007
76.595.060
773.728
419.960
6.000
1.775.076
26.000
4.351.944
7.352,708
40,596,162
40.S96.162
47,948.870
20.881.993
7.764.197
S 28646,19O
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Statement of Revenues.Expenses and Changes in Fund Net Assets
Nonmajor Other Proprietary Funds
Year Ended December 31,2008
Operating Revenues
Fines,forfeitures and penalties
Public charges for services
Other revenues
Total Operating Revenues
Operating Expenses
Operating and maintenance
Depreciation and amortization
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Taxes
Intergovernmental revenues
Interest on investments
Debt discount amortization
Gain (loss)on disposal of capital assets
Contributed capital income
Interest expense
Total Nonoperating Revenues (Expenses)
Income (loss)before transfers
Transfers in
Change in Net Assets
Net Assets (Deficit)-January 1
Net Assets (Deficit)-December 31
Grand Opera
House
$
-
99.867
37.086
136,953
(136,953)
66.557
66,557
(70,396)
(70.396)
2.216.844
S 2.116.448
Algoma/
Church
$
-
-
-
-
-
578.251
$578.251
Deltox
Complex
$
10,507
23.191
33.698
150.822
14.567
165.389
(131.691)
-
(131,691)
(131.691)
356.195
,$224,5Q4_
Parking
Utility
$68.542
124.359
25.421
218.322
185.116
34,672
219.788
(1.466)
2.713
(14.513J
(11,800)
(13.266)
(13.266)
1.794.340
S 1781074
Oshkosh
Redevelopment
Project
S
25.022
11.045
36.067
1.034.073
54,818
1.088.891
(1.052.824)
1.164.262
24.991
(11.762)
122.891
(45.970)
1.254.412
201.588
324.407
575.995
6.378.256
S 6904251
Industrial
Park
$
2.645
2.645
25.209
25.209
(22.564)
138
272.592
(80.772)
191,958
169.394
169.394
2.979.400
S 3.148.794
Goll
Course
$
491.938
491.938
492.121
23.903
516.024
(24,086)
(56.742)
(56.742)
(80.828)
(80.828)
(89.061)
$(169.889)
Storm
Water
Utility
S
2.874,706
2.874.706
1.198.080
188.690
1.386.770
1.487,936
183.993
242.735
(365.848)
60,680
1,548.816
1.548.816
9.508.233
S11.057.049
Other
TIF
Districts
S
190.607
190,607
211.538
211.536
(20,931)
5.454.591
229.263
(1,690.433)
3,993.421
3.972,490
3.972.490
(996.782)
S 2975.708
Total
S 68.542
3.529.177
250.264
3.847.983
3.396.826
353.736
3.750.562
97.421
6.685.410
229.263
211.635
(11.762)
272.592
365.626
(2.254.278)
5.498.686
5,596,107
324.407
5.920.514
22.725.676
$28.646.190
Cash Flows from Operating Activities
Cash received from customers
Cash payments to suppliers and employees
Net Cash Provided (Used)by Operating
Activities
Cash Flows from Non-Capital Financing Activities
Property taxes received
Operating grants received
Net Cash Provided by Non-Capital Financing
Activities
Cash Flows from Capital and Related Financing
Activities
Acquisition of fixed assets
Principal payments on long-term debt
Interest payments on long-term debt
Proceeds from long-term debt
Proceeds from sale of assets
Net Cash Provided (Used)by Capital and Related
Financing Activities
Cash Flows from Investing Activities
investment income received
Net Cash Provided by Investing Activities
Net Increase (Decrease)in Cash and Cash Equivalents
Cash and Cash Equivalents -January 1
Cash and Cash Equivalents •December 31
Grand Opera
House
S
(66,557)
(66,557)
66.557
66,557
■
-
S
Algoma/
Church
$
-
-
-
678.251
$578.251
CITY OF OSHKOSH
Oshkosh.Wisconsin
Combining Statement of Cash Flows
Nonmajor Other Proprietary Funds
Year Ended December 31,2008
Oshkosh
Deltox Parking Redevelopment
Complex Utility Project
$33,698
(150,102}
(116.404)
•
-
-
(116.404)
127.291
S 10.887
S 251.298
(177.182)
74,116
•
(51,143)
(13.610)
(64.753)
2.713
2.713
12,076
85,179
£97,255
S 246.579
(491,721)
(245,142)
1.164.262
1.164.262
(2,371.996)
(295,000)
(56,743)
1,632,000
(891.739)
24.991
24.991
52.372
423.291
S 475.663
Industrial
Park
S 3.425
(717.545)
(714.120)
•
(1,102,857)
(233,629)
(74,206)
1.665,170
459.504
713982
138
138
•
S
Goir
Course
S 489.267
(354.035)
135,252
•
(27.414)
(72.296)
(55.542)
20.000
(135.252)
-
800
S 800
Storm Water
Utility
$2,978.715
(849.817)
2,128,896
-
(1.634.438)
(432.899)
(365.149)
(2.432.486)
183.993
183.993
(119,595)
7.257.319
S 7,137,724
Other
TIF
Districts
$69.607
(654.987)
(585,380)
5.454.591
229.263
5.683.854
(656.405)
(2,198.555)
(1,587,695)
372,500
(4.070.355)
1.028.119
11,125.710
S 12 153.829
Total
Nonmajor
Proprietary
Funds
S 4.072.609
(3,461.946)
$10,663
6.685,410
229,263
6.914.673
(5.793,110)
(3.283,522)
(2.153,145)
3,889.670
459.504
(6.880.603)
211,835
211,835
856,568
19.597.841
S 20,454.409
Reconciliation of Operating Income (Loss)to Net
Cash Provided by Operating Activities:
Operating income (loss)$(136.953)S
Adjustments to reconcile operating income to
net cash provided (used)by operating activities:
Depreciation 37.086
Changes in assets and liabilities
Accounts receivable
Due from other funds
Inventories and deferred charges
Accounts payable and accrued expenses 33.310
Due to other funds
Deferred revenues and deposits
Net Cash Provided (Used) by Operating Activities
S (131,691)$(1.466)S(1,052,824)S (22,564) S (24.086)$1,487.936 S (20,931)S 97.421
14.567
720
34.672
(1.315)
34.291
(5.128)
13.062
54,818
210.514
642.350
780
96
(692.432)
23,903
(2.651)
(1,655)
139,741
186,690
11.724
92.122
163
17,267
330,996
(121,000)
11,034
(454,483)
353,736
98.052
126.413
163
597.994
(663.116)
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Statement of Net Assets
Internal Sen/ice Funds
December 31,2008
ASSETS
Current Assets
Cash and investments
Accounts receivable
TOTAL ASSETS
LIABILITIES
Current Liabilities
Accrued expenses
TOTAL LIABILITIES
NET ASSETS
Unrestricted
TOTAL NET ASSETS
Hospital
Insurance
S 3,275,994
41,526
3,317,520
800,000
800,000
2,517,520
S 2.517,520
Police
Pension
S 773,160
4,018
777,178
-
777,178
$777.178
Fire
Pension
$283,755
283,755
-
283,755
$283.755
Workman's
Compensation
S 390,539
10,463
401,002
132
132
400.870
$400.870
S
?
Total
4,723.448
56,007
4,779,455
800,132
800.132
3,979,323
3.979.323
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Statement of Revenues,Expenses and Changes in Fund Net Assets
Internal Service Funds
Year Ended December 31.2008
Operating Revenues
Licenses and permits
Fines,forfeitures and penalties
Intergovernnnental charges for services
Other revenues
Total Operating Revenues
Operating Expenses
Claims and administration
Total Operating Expenses
Operating Income
Nonoperating Revenues (Expenses)
Taxes
Change in Net Assets
Net Assets -January 1
Net Assets -December 31
Hospital
Insurance
S
7.202,202
1.084,402
8,286.604
7.221,058
7,221.058
1.065,546
1,065,546
1,451,974
$2.517.520
Police
Pension
S 127
39.477
25.787
65.391
62.313
62,313
3,078
3,078
774,100
$777.178
Fire
Pension
S
65.954
10.199
76,153
62,296
62.296
13,857
13,857
269.898
$283.755
Workman's
Compensation
$
30.618
397,899
428,517
315,550
315,550
112,967
32.723
145,690
255,180
$400:87p_
Total
$127
39.477
7,298,774
1.518,287
8,856,665
7.661.217
7.661.217
1,195,448
32.723
1,228,171
2.751.152
$3.979.323
CITY OF OSHKOSH
Oshkosh,Wisconsin
Statement ol Cash Flows
Internal Service Funds
Year Ended December 31.2008
Cash Flows from Operating Activities
Cash received from customers
Cash payments to suppliers and employees
Net Cash Provided (Used)by Operating
Activities
Cash Flows from Non-Capital Financing Activities
Property taxes received
Net Cash Provided by Non-Capital Financing
Activities
Net Increase (Decrease)in Cash and Cash Equivalents
Cash and Cash Equivalents •January 1
Cash and Cash Equivalents -December 31
Hospital
Insurance
Police
Pension
Fire
Pension
Workman's
Compensation Total
$3.366.350
(7.268.371)
1.097.979
S 61.373
(62.313)
(940)
.
$76.153
(62.296)
13.857
S 501.582
(315.636)
185.946
32.723
32.723
S 9.005,458
(7.708.616)
1.296,842
32,723
32.723
1.097.979
2.178.015
S 3.275.994 S
(940)
774,100
>773.160 $
13.857
269.B98
283.755 S
218.659
171.870
390,539 $
1.329.555
3.393.883
4.723.448
Reconciliation of Operating Income to Net
Cash Provided (Used)by Operating Activities'
Operating income
Adjustments to reconcile operating income to
net cash provided (used)by operating activities:
Changes in assets and liabilities
Accounts receivable
Accounts payable and accrued expenses
Net Cash Provided (Used)by Operating Activities
S 1.065.546
79.746
(47.313)
S 1.097.979
3.078
(4.018)
13.657 112.S57 S 1.195.448
73.065
(86)
(940)13.857 185.946
148.793
147.399)
1 296 842
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Balance Sheet
Nonmajor Special Revenue Funds
December 31.2008
ASSETS
Cash and investments
Receivables
Accounts
TOTAL ASSETS
Committee
on
Aging
27.462
Business
Improvement
District Recycling
Street
Lighting Library Museum Cemetery
$67.388 $1,364.451 S 275,850 S 341,239 $669,490 $ 92,941
-__3,594 •89,958 2.455 2.675
Health
Fund
Other
Special
Revenue
Total
Nonmajor
Special Revenue
Funds
461 S 1.093,677 $3,905,497
1,125 21,761 149,030
4.054.527
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable S 7.635 S 13,200 S 6,344 S 96,752 S 125,935 S 27,683 S 4,300 S 2.378 S 89.213 S 373,440
Deposits --.--...10000 10,000
Due to other funds 355 --.-....355
Total Liabitites 7.990 13.200 6,344 96.752 125,935"27.683 '4.300 2.378 99,213 383.795
Fund Balances
Unreserved
Undesignated,reported in
Special revenue funds
Total Fund Balances
TOTAL LIABILITIES AND
FUND BALANCES
19,472
19.472
S 27.462
54.188 1.361.701 179.098 305.262
54.188 1.361.701 179.098 305.262
644.262
644.262
91.316
91.316
(792)1.016,225
(792)1,016.225
3.670.732
3.670.732
CITY OF OSHKOSH
Oshkosh.Wisconsin
Combining Statement of Revenues,Expenditures and Changes in Fund Balances
Nonmajor Special Revenue Funds
Year Ended December 31.2008
Revenues
Taxes
Intergovernmental
Licenses and permits
Public charges for services
Miscellaneous
Total Revenues
Expenditures
Current
Public safety
Public works
Health and welfare
Parks and recreation
Community development
Capital outlay
Total Expenditures
ixcess of Revenues Over (Under)
Expenditures
Committee
on
Aging
$ 372,477
67,608
123.754
563.839
521,894
6,654
528,548
35.291
Business
Improvement
District
S 152.629
14.960
167.589
171,560
171.560
(3.971)
Recycling
S 1.037.951
402,371
364.810
1.805.132
1.112,963
1.112.963
692.169
Street
Lighting
$1.194,771
1.194,771
1.122.451
1.122,451
72.320
Library
S 2.466.445
37.608
1.127.998
10.020
3.642.071
3.424.794
19,209
3.444.003
198.068
Museum
$823,338
93.392
415.917
1,332.647
1.094.784
3,982
1,098,766
233.881
Cemetery
S 202.205
128.624
51.347
382.176
418,568
418.568
<36.392)
Health
Fund
S 392.821
526.698
919.519
996.783
1.500
998.283
(78.764)
Other
Special
Revenue
S 20.303
376.823
82.159
440.510
198.264
1.118.059
130,113
3.958
50.464
553,546
151,595
169,064
1,078.740
39.319
Total
Nonmajor
Special Revenue
Funds
S 6,662,940
884.410
82.159
1.790.524
1.705.770
11.125.803
130.113
2.239,372
1.047,247
5.491.692
845,049
220.409
9,973.882
1.151.921
Other Financing Sources (Uses)
Transfer in
Transfer out
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances -January 1
Fund Balances -December 31
11.458
(83.655)
(72.197)
35.291
(15,619)
(3.971)
58.159
692,169
669.532
72,320
106.778
198.068
107,194
233.881
410,381
(36.392)
127.708
(78,764)
77.972
(32.878)
1,049.103
305.262 S 644.262 (792)S 1,016.225
11.458
(83,655)
(72,197)
1.079,724
2,591.008
3,670.732
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Balance Sheet
Nonmajor Capital Project Funds
December 31,2008
ASSETS
Cash and investments
Receivables
Special assessment
Accounts
Due from other funds
Due from other governments
Notes receivable
TOTAL ASSETS
Community
Development
Block Grant
346,941
3.210,125
$3.557.066
Wisconsin
Rental
Rehabilitation
Program
Public
Works
98,701 $2,205,720
125.516
Other
Public Works
Assessment
Improvement Equipment
Park
Improvement
and
Acquisition
Senior
Center
Museum
Phoenix
Project
Total
Nonmajor
Capital
Project Funds
548.918 S 3.400.925 S 367,489
3.001.690
681.254
6.298,445
43,088 $27,685 $6.692.526
3.001.690
806,770
6.298.445
346.941
--3.210.125
224.217 S 2.205,720 S 10,530.307 S 3,400.925 20,356.497
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable
Deferred revenues
Deposits
Due to other funds
Due to other governments
Total Liabilttes
16.928
330.013
3.210.125
3.557.066
70,000
341.921
-
3,500
$5,729,355
3,087.661
1,055.270
1.288.140
70.000 345.421 11.160.426
228,046 55 5,950
228.046 55 5,950
6,322,255
3,157,661
1,058.770
1,618.153
3.210.125
15,366.964
Fund Balances
Reserved for
Construction of assets
Total Fund Balances
TOTAL LIABILITIES AND
FUND BALANCES S 3.557.066
154.217 1,860.299
154,217 1.860.299
(630.119)
(630.119)
3.172.879 367.434
3.172.879 367.434
10.530.307 S 3.400.925 S 367,489
43.088 21.735
43.088 21.735
4.989.533
4.989.533
27.685 S 20.356,497
CITY OF OSHKOSH
Oshkosh,Wisconsin
Combining Statement of Revenues.Expenditures and Changes in Fund Balances
Nonmajor Capital Project Funds
Year Ended December 31,2008
Revenues
Special assessments
Intergovernmental
Public charges for services
Miscellaneous
Total Revenues
Expenditures
Current
Community development
Capital outlay
Total Expenditures
Excess of Revenues Over (Under)
Expenditures
Other Financing Sources (Uses)
Long-term debt issued
Transfer in
Transfer out
Total Other Financing Sources
(Uses)
Net Changes in Fund Balances
Fund Balances -January 1
Fund Balances -December 31
Community
Development
Block Grant
Wisconsin
Rental
Rehabilitation
Program
575,541
144.417
719.958
73,320
73.320
704.772
15.186
719.958
3.812
3.812
69,508
69.508
84.709
Public
Works
S
3.291
3.291
1,046,974
1.258.594
2.305.568
(2,302.277)
3.051,141
3,051.141
748,864
1.111.435
S 1.860.299
utner
Public Works
Assessment
Improvement
$1,808.274
1.808.274
36.627
1.257.821
1.294.448
513,826
-
513.826
(1.143,945)
S (630.119)
Equipment
S
142.242
18.750
160.992
927,565
1.467.625
2.395.190
(2,234.198)
3.574,410
8,750
(15.000)
3,568.160
1.333.962
1.838.917
S 3.172.879
Park
Improvement
and
Acquisition
$3,200
16,826
16,891
36,917
259,731
244.544
504.275
(467.358)
306.000
(10.943)
295,057
(172.301)
539.735
$367.434
Senior
Center
S
2.398
2.398
-
2.398
-
2,398
40.690
S 43.088
Museum
Phoenix
Project
S
500
500
9.786
9.786
(9,286)
-
(9.286)
31.021
S 21.735
Total
Nonmajor
Capital Project
Funds
S 1,811,474
734,609
144.417
115,150
2.805,650
2.989.267
4.243.770
7.233,037
(4.427,387)
6.931.551
8.750
(25,943)
6.914,358
2.486.971
2.502.562
S 4.989.533
Exhibit A-1
CITY OF OSHKOSH, WISCONSIN
SUMMARY OF CASH & INVESTMENTS
As of December 31, 2008 (1 OF 2)
CASH INVESTMENTS
2008 AT COST
OPERATING FUNDS
General Fund 41,423,857.77 21,009,295.08
Treasurer's Working Fund 3,000.00 0.00
Other Petty Cash Funds 5,385.00 0.00
TRUST FUNDS
Police Pension 3,713.70 769,446.59
Firemen's Pension 0.00 283,755.02
Arps Trust 870.09 52,448.50
Behncke Library Trust 494.56 209,000.00
Behncke Museum Trust 4,772.10 137,305.92
William E. Bray Museum Trust 306.74 11,538.46
Cemetery Perpetual Care 1,060.90 540,330.06
Leander Choate 70.48 25,213.78
Clute 9.55 660.00
Amy Davies Library Fund 664.30 91,500.00
Durow Trust 684.17 5,076.00
Fisk-Gallup 14,660.83 0.00
Gould 175.71 3,400.00
Gruenwald Trust 38.05 2,500.00
Gruetzmacher Library Trust 18.71 8,500.00
Abbey Harris Library 58.23 86,794.25
Heyman 39.06 32,540.00
Hicks 314.70 180,154.50
Hilton III 307.68 35,500.00
Hilton Library & Museum 0.00 7,147.96
Hilton Special Library 335.07 13,650.00
Hoxtel Library Trust 176.36 8,500.00
Huhn Animal Shelter Trust 6.87 4,350.00
Hume 4.33 1,200.00
James Trust 143.70 5,000.00
John Kelsh Library Memorial Fund 190.90 2,500.00
Genevieve Kenny Library Trust 42.43 8,500.00
Kitz Museum Memorial Trust 2,725.91 24,178.39
Kitz Directors Trust 8,048.11 238,000.00
Marie Lehnigk Library Fund 394.42 6,500.00
Malnar Children's Program Trust 362.65 10,000.00
Maxwell-Crawford 24.31 7,850.00
Museum Endowment 15,396.26 104,701.37
John V. Nichols Digital Library Trust 69.21 53,000.00
Pine 325.56 4,000.00
Pittel 9.92 370.00
Public Library Memorial Fund 15,551.38 304,500.00
Rasmussen Library Fund 501.04 29,286.32
Roberts 4.68 2,470.00
Rojahn, Elizabeth 298.94 79,507.00
Rojahn, Frank Mace 435.95 81,007.00
Rojahn, Frank and Anna 199.75 5,000.00
Rotary 421.91 2,500.00
Ryan 1,293.60 92,000.00
Sarau 2.09 4,910.00
Stanhilber - Library & Parks 20,055.35 821,508.56
Stanhilber - Parks Only 10.68 2,100.00
M. Zellmer Library Fund 535.56 64,020.25
S. Zellmer Library Fund 1,106.88 64,450.00
Exhibit A-1
(2 OF 2)
CASH INVESTMENTS
2008 AT COST
Cable TV Franchise - Escrow 0.00 10,000.00
Flexible Benefits 74,913.66 0.00
Museum Membership Fund 0.00 117,326.71
Water Utility - Operating 1,890,146.63 5,604,794.72
Water Utility - Depreciation 0.00 131,801.43
Water Utility - Spec Redemption 0.00 1,199,423.47
Water Utility - '06 Notes 0.00 2,294.16
Water Utility - '07 Notes 0.00 1,222,437.20
Water Utility - '08 Bonds 0.00 0.00
Sewerage Utility - Operating 4,104,347.35 2,423,291.14
Sewerage Utility - '06 Notes 0.00 0.00
Sewerage Utility - '07 Notes 0.00 0.00
Sewerage Utility - Replacement Fund 0.00 3,781,395.79
Sewerage Utility - Debt Service 0.00 1,813,779.96
Storm Water - Operating 896,367.57 5,582,556.73
Storm Water - '06 Notes 0.00 0.00
Storm Water - '07 Notes 0.00 15,383.13
Storm Water - Debt Service 0.00 643,415.92
Centre Utility Spec Redemption 0.00 346,286.87
Parking Utility Commission 0.00 97,254.59
48,494,951.36 48,529,106.83
Exhibit A-2
2008 2007 2006 2005 2004
Governmental Activities
Invested in Capital Assets, Net of Related Debt 59,238,509$ 45,658,953$ 46,097,367$ 37,457,942$ 48,476,960$
Restricted 1,814,545 15,366,502 14,982,030 14,374,421 726,155
Unrestricted 1,435,588 716,389 (67,571) (1,177,920) (427,857)
Total Governmental Activities Net Assets 62,488,642 61,741,844 61,011,826 50,654,443 48,775,258
Business-Type Activities
Invested in Capital Assets, Net of Related Debt 106,592,573 99,063,739 93,805,213 74,729,006 82,239,212
Unrestricted 16,689,275 14,053,313 9,079,028 20,292,999 19,141,677
Total Business-Type Activities Net Assets 123,281,848 113,117,052 102,884,241 95,022,005 101,380,889
Primary government
Invested in Capital Assets, Net of Related Debt 165,831,082 144,722,692 139,902,580 112,186,948 130,716,172
Restricted 1,814,545 15,366,502 14,982,030 14,374,421 726,155
Unrestricted 18,124,863 14,769,702 9,011,457 19,115,079 18,713,820
Total Primary Government Net Assets 185,770,490$ 174,858,896$ 163,896,067$ 145,676,448$ 150,156,147$
City of Oshkosh, Wisconsin
Net Assets by Component
Last Five Years
(accrual basis of accounting)
Exhibit A-3
2008 2007 2006 2005 2004
Program Revenues
Governmental Activities:
Charges for Services:
General Government 194,337$ 73,298$ 70,863$ 77,703$ 90,458$
Public Safety 3,948,596 3,886,660 3,924,570 3,698,540 3,689,398
Public Works 3,426,072 3,119,360 4,207,734 3,581,577 3,204,371
Health and welfare 240,549 185,436 206,410 114,797 120,668
Parks and recreation 1,357,307 1,344,431 1,509,167 1,138,021 1,198,849
Transportation 0 0 0 0 0
Community development 2,869,826 3,919,132 4,401,900 4,463,139 3,550,859
Operating grants and contributions 6,089,486 4,710,329 13,167,579 5,456,071 5,637,290
Unclassified 0 0 0 0 0
Interest on debt 0 0 0 0 0
Total Governmental Activities Program Revenues 18,126,173 17,238,646 27,488,223 18,529,848 17,491,893
Business-Type Activities:
Charges for Services:
Transit utility 685,116 602,759 573,399 529,318 508,444
Water utility 11,740,668 11,085,840 10,365,395 10,204,874 9,579,543
Sewer utility 9,353,241 8,418,753 7,761,982 7,839,060 7,428,260
Operating grants and contributions 3,870,423 3,682,269 3,539,218 3,396,000 3,150,375
Capital grants and contributions 2,318,353 2,301,284 3,999,620 2,193,123 1,143,609
Other 3,847,983 3,986,861 3,857,403 2,752,896 2,687,840
Total Business-Type Activities Program Revenues 31,815,784 30,077,766 30,097,017 26,915,271 24,498,071
Total Primary Government Program Revenues 49,941,957 47,316,412 57,585,240 45,445,119 41,989,964
Expenses
Governmental Activities:
General Government 6,170,557 6,218,945 5,893,337 5,524,239 5,174,616
Public Safety 22,159,371 22,066,233 21,557,204 20,585,030 20,139,823
Public Works 13,906,804 13,897,933 13,637,723 13,585,298 12,009,554
Health and welfare 1,049,528 915,465 898,430 824,191 785,917
Parks and recreation 7,547,260 8,362,968 7,763,946 5,869,280 4,978,378
Transportation 629,293 623,311 589,271 615,915 592,520
Community development 5,588,413 4,175,538 5,373,570 5,541,333 4,926,854
Unclassified 675,718 416,416 395,766 496,198 1,830,058
Interest on debt 2,974,777 3,005,211 3,335,421 2,824,167 2,551,011
Total Governmental Activities Expenses 60,701,721 59,682,020 59,444,668 55,865,651 52,988,731
Business-Type Activities:
Transit utility 4,852,157 4,654,186 4,517,297 4,412,329 4,089,908
Water utility 10,658,416 9,759,651 9,401,303 9,227,767 9,393,484
Sewer utility 8,426,591 7,854,061 7,860,915 8,057,719 7,342,887
Other 6,016,602 5,429,505 5,674,537 4,910,808 4,634,186
Total Business-Type Activities Expenses 29,953,766 27,697,403 27,454,052 26,608,623 25,460,465
Total Primary Government Expenses 90,655,487$ 87,379,423$ 86,898,720$ 82,474,274$ 78,449,196$
(continued)
City of Oshkosh, Wisconsin
Changes in Net Assets
(accrual basis of accounting)
Last Five Years
Exhibit A-3
2008 2007 2006 2005 2004
Net (Expense)/Revenue
Governmental Activities (42,575,548)$ (42,443,374)$ (31,956,445)$ (37,335,803)$ (35,496,838)$
Business-Type Activities 1,862,018 2,380,363 2,642,965 306,648 (962,394)
Total Primary Government Net Expense ($40,713,530) ($40,063,011) ($29,313,480) ($37,029,155) ($36,459,232)
General Revenues and Other Changes in Net Assets
Governmental Activities:
Taxes:
Property and Other Local Taxes Levied For:
General Purposes $11,128,038 $10,330,110 $9,697,647 $9,362,882 $7,912,638
Other Purposes 13,975,582 13,924,251 13,809,191 13,636,562 13,577,329
Debt Service 15,793,524 15,705,026 15,055,768 14,718,268 14,556,064
Investment Earnings 1,785,206 2,582,645 2,624,221 1,124,103 469,696
Gain (Loss) on Sale of Capital Assets 0 49,723 157,395 (488,406) 289,221
Miscellaneous 964,403 581,637 969,607 861,578 755,502
Transfers (324,407)
Total Governmental Activities 43,322,346$ 43,173,392$ 42,313,829$ 39,214,987$ 37,560,450$
Business-Type Activities:
General Purposes property taxes levied for 6,794,421 5,912,175 5,293,820 5,261,237 4,884,673
Investment Earnings 911,358 1,619,447 1,531,912 1,028,802 465,604
Gain (Loss) on Sale of Capital Assets 272,592 320,826 (1,606,461) (12,955,571) (4,842,880)
Miscellaneous
Transfers 324,407
Total Business-Type Activities 8,302,778 7,852,448 5,219,271 (6,665,532) 507,397
Total Primary Government 51,625,124$ 51,025,840$ 47,533,100$ 32,549,455$ 38,067,847$
Change in Net Assets
Governmental Activities 746,798 730,018 10,357,384 1,879,184 2,063,612
Business-Type Activities 10,164,796 10,232,811 7,862,236 (6,358,884) (454,997)
Total Primary Government Change in Net Assets 10,911,594$ 10,962,829$ 18,219,620$ (4,479,700)$ 1,608,615$
City of Oshkosh, Wisconsin
Changes in Net Assets (continued)
Last Five Years
(accrual basis of accounting)
Exhibit A-4
2008 2007 2006 2005 2004 2003
ASSETS
Cash and investments 16,724,271$ 24,205,581$ 24,348,971$ 19,969,678$ 11,280,988$ 13,702,600$
Receivables
Taxes 43,325 34,183 34,207 24,348 210,980 224,726
Special assessment 3,001,690 4,143,515 3,215,502 3,722,991 2,630,633 4,024,964
Accounts 3,161,003 2,964,475 2,923,964 3,080,064 3,113,504 2,005,605
Due from other funds 9,350,690 10,515,858 8,242,107 12,115,772 7,648,980 4,845,943
Due from other governments 346,941 277,590 24,859 22,649 75,780 355,574
Inventories and prepaid items 15,117 12,146 11,860 11,314 11,800 8,639
Notes receivable 3,210,125 3,036,233 2,915,512 2,361,276 2,243,523 2,318,685
Total Assets 35,853,162$ 45,189,581$ 41,716,982$ 41,308,092$ 27,216,188$ 27,486,736$
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable 7,716,490 3,191,288 5,359,211 3,728,771 5,042,990 3,400,458
Accrued payroll liabilities 1,380,300 1,005,030 838,276 848,087 816,120 452,856
Due to other funds 1,858,130 4,614,485 1,777,256 3,381,632 1,939,765 1,700,668
Due to other governments 3,210,125 3,036,233 2,915,512 2,361,276 2,243,523 2,318,685
Deferred revenues 3,177,348 4,554,472 3,538,472 4,008,695 3,047,030 4,353,068
Deposits 1,070,684 1,035,492 1,114,948 1,162,088 1,110,368 963,007
Total Liabilities 18,413,077 17,437,000 15,543,675 15,490,549 14,199,796 13,188,742
Fund Balances
Reserved for
Inventories and prepaid items 15,117 175,800 175,800 175,800 175,800 175,800
Retirement of long-term debt 1,814,545 15,366,502 14,982,030 14,374,421 726,155 758,499
Construction of assets 4,989,533 2,502,562 2,500,545 4,307,252 3,746,057 3,688,771
Unreserved - designated 30,171
Undesignated, reported in
General fund 6,919,987 7,116,709 6,148,721 4,905,892 6,656,451 7,711,675
Special revenue funds 3,670,732 2,591,008 2,366,211 2,054,178 1,711,929 1,963,249
Total Fund Balances 17,440,085 27,752,581 26,173,307 25,817,543 13,016,392 14,297,994
TOTAL LIABILITIES AND FUND BALANCES
General 9,627,593 10,508,661 8,845,649 7,147,113 8,962,160 9,901,445
Debt Service 1,814,545 15,366,502 14,982,030 14,374,421 804,019 836,363
Other Governmental Funds 24,411,024 19,314,418 17,889,303 19,786,558 17,450,009 16,748,928
35,853,162$ 45,189,581$ 41,716,982$ 41,308,092$ 27,216,188$ 27,486,736$
City of Oshkosh, Wisconsin
Changes in Fund Balances, Governmental Funds
(modified accrual basis of accounting)
Last Ten Years
Exhibit A-5
2008 2007 2006 2005 2004
Revenues
Taxes 26,838,787$ 25,911,221$ 24,660,520$ 24,011,983$ 22,413,574$
Special assessments 1,811,474 1,694,690 2,042,869 2,099,207 1,673,706
Intergovernmental 18,869,185 18,690,654 19,649,114 19,839,557 18,869,568
Licenses and permits 1,612,615 1,709,402 1,589,996 1,419,419 1,546,393
Fines and forfeits 759,287 851,683 865,368 843,888 860,621
Public charges for services 5,035,679 4,578,523 5,422,822 4,416,599 3,959,872
Intergovernmental charges for services 2,440,503 2,545,173 2,718,626 2,754,812 3,199,235
Miscellaneous 4,333,069 4,313,507 12,714,809 2,745,313 2,369,329
Total Revenues 61,700,599 60,294,853 69,664,124 58,130,778 54,892,298
Expenditures
Current
General government 5,849,537 5,854,440 5,524,037 5,482,933 5,019,688
Public safety 22,088,797 21,102,472 20,896,004 20,560,573 19,236,100
Public works 9,618,947 8,712,988 8,961,586 8,526,759 8,718,091
Health and welfare 1,047,247 915,465 898,430 823,693 784,796
Parks and recreation 7,193,198 7,287,802 7,274,008 6,747,328 6,280,801
Transportation 629,293 623,311 589,271 615,915 592,520
Community development 5,458,971 4,070,772 5,254,435 5,194,478 5,074,209
Unclassified 675,718 416,416 395,766 496,198 1,830,058
Debt service
Principal 18,861,940 5,470,617 5,057,639 2,045,348 4,745,557
Interest and fiscal charges 2,955,006 2,991,930 3,376,240 2,836,291 2,622,884
Capital outlay 4,464,179 6,469,538 19,359,022 6,683,580 5,470,441
Total Expenditures 78,842,833 63,915,751 77,586,438 60,013,096 60,375,145
Excess of Revenues Over (Under)
Expenditures (17,142,234) (3,620,898) (7,922,314) (1,882,318) (5,482,847)
Other Financing Sources (Uses)
Long-term debt issued 7,154,145 5,200,172 16,041,596 14,683,469 4,228,000
Refunding debt issued
Payment to refunding escrow agent (7,763,518) 0 (26,755)
Transfers in 8,688,735 8,564,967 8,056,339 10,438,726 7,617,007
Transfers out (9,013,142) (8,564,967) (8,056,339) (10,438,726) (7,617,007)
Total Other Financing Sources (Uses) 6,829,738 5,200,172 8,278,078 14,683,469 4,201,245
Excess of Revenues and Other
Financing Sources Over (Under)
Expenditures and Other Financing Uses (10,312,496) 1,579,274 355,764 12,801,151 (1,281,602)
Fund Balances - January 1 27,752,581 26,173,307 25,817,543 13,016,392 14,297,994
Fund Balances - December 31 17,440,085$ 27,752,581$ 26,173,307$ 25,817,543$ 13,016,392$
City of Oshkosh, Wisconsin
Changes in Fund Balances, Governmental Funds
Last Five Fiscal Years
(accrual basis of accounting)
Exhibit A-6
City of Oshkosh, Wisconsin
Program Revenues by Function/Program
Last Five Years
2008 2007 2006 2005 2004
REVENUES
Taxes & Special Assess. 26,902,068$ 25,939,725$ 24,618,227$ 24,601,129$ 22,274,716$
Licenses & Permits 1,216,972 1,322,421 1,214,293 1,032,128 856,609
Fines & Costs 672,789 733,249 784,376 750,571 860,621
Shared Taxes - State and 17,254,764 16,959,446 17,276,831 16,586,851 16,480,520
Federal Aids
Use of Property and Money 980,931 1,173,004 950,556 514,972 443,449
Charges for Current Serv. 3,542,358 4,049,304 3,776,708 4,159,797 3,231,249
Interdepartmental Rev. 10,548,757 10,091,460 10,026,313 9,417,682 8,949,155
Unclassified 507,414 107,660 137,898 110,000 296,642
61,626,053$ 60,376,269$ 58,785,202$ 57,173,130$ 53,392,961$
SUMMARY-SHARED TAXES-
STATE & FEDERAL AIDS
Shared State Aids 10,969,615$ 11,073,727$ 11,075,468$ 11,076,027$ 11,065,483$
Highway Aids 3,010,732 2,843,112 2,767,382 2,740,615 2,707,989
Muni. Serv.-State Prop. 1,356,188 1,322,063 1,333,774 1,277,417 1,222,605
County Ambulance Aid 169,389 174,934 159,884 146,188 141,930
Parks/Forestry Aids 0 5,398 0 0 3,871
Tax Disparity Aids 1,212,311 1,088,157 1,067,259 977,077 985,860
Cable TV 8,654 6,332 7,914 9,332 5,557
State Computer Credit 179,659 199,152 210,086 190,635 187,440
Fire 161,558 40,000 33,000 0 0
Police Training Aids 186,658 206,571 192,937 169,560 159,785
17,254,764$ 16,959,446$ 16,847,704$ 16,586,851$ 16,480,520$
Exhibit A-7City of Oshkosh, Wisconsin
HISTORICAL VALUATIONS AND TAX RECORDS
ASSESSED
TOTAL STATE VALUE AS A
REAL PERSONAL ASSESSED EQUALIZED PERCENTAGE OF
YEAR ESTATE PROPERTY VALUE VALUATION EQUALIZED VALUE
1993 1,205,286,800 89,160,900 1,294,447,700 1,639,978,900 78.93
1994 1,225,515,300 90,718,800 1,316,234,100 1,747,247,000 75.33
1995 1,766,049,300 116,065,600 1,882,114,900 1,827,673,200 102.8
1996 1,821,550,500 116,108,400 1,937,658,900 1,910,807,000 101.41
1997 1,868,133,900 119,457,600 1,987,591,500 2,044,982,800 97.19
1998 1,922,771,400 123,676,200 2,046,447,600 2,155,070,900 94.87
1999 1,972,360,400 100,470,200 2,072,830,600 2,267,759,900 91.44
2000 2,039,759,700 100,600,400 2,140,360,100 2,432,030,100 88.01
2001 2,095,966,400 107,132,500 2,203,098,900 2,566,679,800 85.84
2002 2,157,579,700 109,268,200 2,266,847,900 2,749,469,500 72.45
2003 2,221,822,400 108,150,100 2,329,972,500 2,924,336,700 79.68
2004 2,260,487,900 107,771,900 2,368,259,800 3,141,524,900 75.39
2005 3,260,277,500 135,885,300 3,396,162,800 3,335,517,300 101.82
2006 3,334,485,900 149,401,700 3,483,887,600 3,558,114,300 97.91
2007 3,441,866,900 129,642,300 3,571,509,200 3,722,810,200 95.94
2008 3,517,580,250 141,325,000 3,658,905,250 3,849,076,000 94.99
TAX RATE $100
STATE
STATE COUNTY COUNTY CITY CITY TAX NET
YEAR TAX TAX SCHOOL SCHOOL* GENERAL TOTAL CREDIT TAX
1993 0.026 0.635 0.000 2.294 1.011 3.966 0.218 3.748
1994 0.027 0.659 0.000 2.276 0.995 3.957 0.213 3.744
1995 0.019 0.460 0.000 1.542 0.699 2.720 0.149 2.571
1996 0.020 0.467 0.000 1.189 0.756 2.432 0.209 2.223
1997 0.021 0.489 0.000 1.148 0.795 2.453 0.195 2.258
1998 0.021 0.521 0.000 1.172 0.811 2.525 0.177 2.348
1999 0.022 0.542 0.000 1.173 0.819 2.556 0.164 2.392
2000 0.023 0.572 0.000 1.211 0.896 2.702 0.154 2.548
2001 0.023 0.627 0.000 1.231 0.977 2.858 0.149 2.709
2002 0.024 0.662 0.000 1.189 1.000 2.875 0.143 2.732
2003 0.025 0.667 0.000 1.199 1.000 2.891 0.136 2.755
2004 0.026 0.715 0.000 1.273 1.057 3.071 0.130 2.941
2005 0.018 0.521 0.000 0.879 0.761 2.179 0.088 2.091
2006 0.018 0.547 0.000 0.916 0.782 2.263 0.108 2.155
2007 0.018 0.567 0.000 0.945 0.798 2.328 0.120 2.208
2008 0.018 0.573 0.000 0.954 0.823 2.367 0.130 2.2379
*City school tax rate includes vocational school rate. In 2008 vocational portion was .170.
Exhibit A-8
City of Oshkosh, Wisconsin
RECOMMENDED FULL VALUE ASSESSMENTS
Year Residential Mercantile Manufacturing Other Total
1985 658,296,800 254,139,000 100,784,000 0 1,013,219,800
1986 691,246,400 266,936,200 96,754,800 0 1,054,937,400
1987 720,465,800 276,034,600 103,213,500 0 1,099,713,900
1988 755,944,700 285,004,100 110,549,900 0 1,151,498,700
1989 772,577,500 291,199,100 111,800,800 0 1,175,577,400
1990 801,000,600 319,665,600 117,645,200 0 1,238,311,400
1991 864,003,400 340,686,000 122,203,100 0 1,326,892,500
1992 916,608,300 382,824,400 124,178,800 0 1,423,611,500
1993 978,535,600 417,121,300 130,211,200 0 1,525,868,100
1994 1,073,119,800 424,109,800 130,844,400 0 1,628,074,000
1995 1,140,699,100 428,294,700 139,373,100 0 1,708,366,900
1996 1,191,779,200 459,385,800 149,793,000 0 1,800,958,000
1997 1,271,383,300 500,274,400 150,711,500 0 1,922,369,200
1998 1,336,019,700 547,994,300 147,334,200 0 2,031,348,200
1999 1,410,931,800 585,207,400 158,695,200 2,271,000 2,157,105,400
2000 1,519,317,600 627,013,900 171,813,700 205,600 2,318,350,800
2001 1,588,750,300 676,820,500 177,677,300 921,700 2,444,169,800
2002 1,705,634,900 729,344,900 184,670,400 569,700 2,620,219,900
2003 1,799,507,200 799,262,800 192,434,700 728,400 2,791,933,100
2004 1,929,467,500 887,957,700 187,322,000 682,700 3,005,429,900
2005 2,046,379,000 953,894,600 198,994,500 774,900 3,200,043,000
2006 2,149,400,100 1,058,327,500 197,893,800 1,207,700 3,406,829,100
2007 2,217,566,200 1,152,257,000 216,171,100 720,900 3,586,715,200
2008 2,235,321,100 1,237,130,600 227,147,500 725,700 3,700,324,900
Source: Winnebago County Statistical Report
Exhibit A-9
Real Property Percentage of Total
Taxpayer Assessed Valuation (1) Assessed Valuation
Midwest Realty $72,140,400 1.97%
Thomas N. Rusch, etal 49,595,550 1.36
Dumke & Assoc.43,377,600 1.19
Curwood Inc 30,430,200 0.83
BFO Factory Shoppes 29,403,900 0.80
Peter Jungbacker, etal 28,781,800 0.79
Oshkosh Truck 28,263,900 0.77
Westowne Shoppes 22,689,600 0.62
Bergstrom 22,663,200 0.62
Dennis Schwab, etal 20,459,800 0.56
0.00
$347,805,950 9.51%
Total Assessed Valuation $3,658,905,250
December 31, 1998
Real Property Percentage of Total
Taxpayer Assessed Valuation (1) Assessed Valuation
Curwood Inc. (Bemis) & Weldon Inc. $35,178,900 1.83%
John Mark - Security Investments 27,557,100 1.43
Oshkosh Truck Corp., Cadence Co. 13,850,200 0.72
Thomas N. Rusch, etal. 20,776,300 1.08
First Horizon Group Ltd. Partnership 12,792,900 0.67
Oshkosh B'Gosh 5,774,700 0.30
Dennis Schwab, Landmark Ltd Partnership 12,151,000 0.63
The Fonda Group (Hoffmaster) 8,605,700 0.45
Mercy Medical Center of Oshkosh Inc 9,208,700 0.48
Glimcher Properties, Ltd. Partnership 8,784,400 0.46
$154,679,900 8.05%
Total Assessed Valuation $1,922,771,400
(1) Assessed valuation based on the valuation of property for taxes collected in 2008 and 1998
respectively, and a review of the 10 largest taxpayers for the City.
Source: City of Oshkosh Assessor's Office
City of Oshkosh, Wisconsin
Principal Taxpayers
12/31/1998 and 12/31/2008
December 31, 2008
Exhibit A-10
Total Current Delinquent Total
Tax Tax Tax Tax
Year Levy Collections Collections Collections (1)
2007 $86,119,686 $83,580,798 97.05 %%
2006 $81,158,972 $78,653,692 96.91
2005 76,396,795 74,165,036 97.08 $2,223,007 $76,388,043 99.99
2004 74,331,644 72,467,595 97.49 1,855,411 74,323,006 99.99
2003 69,933,492 67,935,039 97.14 1,925,290 69,860,329 99.90
2002 67,421,077 65,397,614 97.00 1,951,752 67,349,366 99.89
2001 64,794,558 63,274,133 97.65 1,505,502 64,779,635 99.98
2000 59,629,006 57,994,500 97.26 1,612,283 59,606,783 99.96
1999 54,706,079 53,358,355 97.54 1,335,729 54,694,084 99.98
1998 53,516,680 52,433,090 97.98 1,077,376 53,510,466 99.99
1997 50,844,753 49,729,995 97.81 1,108,827 50,838,822 99.99
Sources: Winnebago County Treasurer and City of Oshkosh Department of Finance.
Percent of
Total Tax
Collections
To Tax Levy
Percent of
Current Tax
Collections
To Tax Levy
City of Oshkosh, Wisconsin
Property Tax Levies And Collections
Last Ten Years
Exhibit A-11
STATEMENT OF INDEBTEDNESS
City of Oshkosh, Wisconsin (1 OF 2)
As of December 31, 2008
GENERAL OBLIGATION DEBT OUTSTANDING
AND LEGAL DEBT MARGIN
For City For School
General Purposes Purposes
Equalized Value.................................. $ 3,849,076,000 $ 4,861,466,153
Legal Debt Margin*............................5 % 10 %
192,453,800 486,146,615
Bonds Outstanding..............................119,684,801 23,398,101
Legal Debt Margin.............................. $ 72,768,999 $ 462,748,514
*Pursuant to Section 67.03, Wisconsin Statutes, the total indebtedness of the City for general
purposes may not exceed 5% of the value of the taxable property located therein as equalized
for State purposes. The total indebtedness of the City for school purposes may not exceed 10%
of the value of the taxable property located therein, plus the value of taxable property in the
territory attached to the City for school purposes only.
Per Cent of Debt
Applicable to Municipality's
Outstanding Municipality Share of Debt
For City General Purposes..... $ 119,684,801 100.00% $ 119,684,801
Total Direct Debt.................... 119,684,801 119,684,801
OVERLAPPING DEBT
Winnebago County.................. 63,314,587 31.1% 19,690,837
For School Purposes............... 23,398,101 73.3% 17,244,400
Fox Valley Tech. College........ 48,185,000 10.8% 5,203,980
Total Debt................................ $ 254,582,489 $ 161,824,018
2008 Population - 65,920
Ratio of Debt to Equalized Value: Direct Municipal Purposes only..... 3.11%
Ratio of Debt Per Capita: Direct Municipal Purposes Only..... $ 1,815.61
Investment Rating by Moody's , Feb. '08 - Aa3
STATEMENT OF INDEBTEDNESS
City of Oshkosh, Wisconsin Exhibit A-12
Schedule of Bonds and Notes for City Purposes, Issued, (1 of 2)
Retired and Outstanding as of December 31, 2008.
Year of Authorized Retired as of Outstanding
Issue and Issued 12-31-08 12-31-08
NOTES
Promissory Notes - Improvements to streets, storm sewers,1999 2,820,000 2,820,000 0
sanitary sewers, water, parks and property improvements.
Promissory Notes - Improvements to Streets, Storm and 2000 2,210,000 1,900,000 310,000
Storm and Sanitary Sewers, Sidewalks, Traffic lights, Parks,
Fire house & site, Major equipment, TIF and Parking lots.
Promissory Notes - Improvements to Municipal Golf 2000 1,500,000 430,000 1,070,000
Course.
Promissory Notes - Improvements to Sidwalks, Traffic 2001B 2,110,000 1,545,000 565,000
lights, Major Equipment, and Property improvements
Promissory Notes 2002B 2,260,000 1,375,000 885,000
Promissory Notes - TIF 18 SW Ind Comm of Pub Lands 2002 1,012,000 214,269 797,731
Promissory Notes 2003B 2,615,000 1,325,000 1,290,000
Promissory Notes 03 TIF 14 Mercy Comm of Pub Lands 2003 375,000 62,616 312,384
Promissory Notes 03 TIF 13 Comm of Pub Lands 2003 1,365,720 244,218 1,121,502
Promissory Refunding Notes, Swr, Wtr, Gen, Transit,2003F 4,380,000 3,630,000 750,000
TIF 8-S Aviation, TIF 7-SW Ind
Promissory Notes 03 TIF 13 Comm of Pub Lands,2003 226,000 27,506 198,494
Osh Centre Hotel and Covention Center
Promissory Notes 04 G O, Gen, Wtr, Swr 2004B 1,565,000 620,000 945,000
Promissory Notes State Trust Fund, Riverside Park 2004 1,200,000 108,077 1,091,923
Promissory Notes TIF 14 Comm of Pub Lands 2004 99,000 9,079 89,921
Promissory Notes TIF 14 Comm of Pub Lands 2004 100,000 8,200 91,800
Promissory Notes 2005B, Gen, Wtr, Swr, Storm 2005B 2,540,000 765,000 1,775,000
Promissory Notes 05 Expand Riverside Park 2005 200,000 20,874 179,126
Promissory Notes 05 TIF 13 and TIF 17 2005 1,163,000 70,902 1,092,098
Promissory Notes 05 TIF 8 and TIF 13 2005 656,000 39,993 616,007
Promissory Notes 06B, Gen, Water, Sewer, Storm, Trans 2006B 2,500,000 480,000 2,020,000
Promissory Notes 07B, Gen, Water, Sewer, Storm,2007B 3,375,000 310,000 3,065,000
Ohio/WI St Bridge, Swr interceptor Hazel/New York,
Sanitation automated collect, Wtr new meter reading.
Promissory Notes 08B 2008B 1,565,000 1,565,000
Promissory Notes 2008, Board Comm, Tif 20, Ind Park 2008 1,419,815 1,419,815
Promissory Notes 2008, Industrial Park 2008 1,122,000 1,122,000
Promissory Notes 2008, Board Comm, Convention Center 2008 1,832,000 1,832,000
TOTAL NOTES 40,210,535 16,005,734 24,204,801
NET INDEBTEDNESS FOR CITY GENERAL PURPOSES 261,377,771 91,604,233 169,773,538
STATEMENT OF INDEBTEDNESS
City of Oshkosh, Wisconsin Exhibit A-12
Schedule of Bonds and Notes for City Purposes, Issued, (2 of 2)
Retired and Outstanding as of December 31, 2008.
Year of Authorized Retired as of Outstanding
BONDS Issue and Issued 12-31-08 12-31-08
Clean Water Fund - Improvements to sewer utility. 1993 2,881,402 2,088,713 792,689
Note: Amount authorized up to $2,994,450.
Clean Water Fund - Improvements to sewer utility. 1995 17,631,410 10,289,036 7,342,374
Note: Amount authorized up to $18,388,072
Taxable G O Corporate Purpose Refunding Bonds - Refunding 1997 955,000 955,000 0
1989 -A Bonds.
Water Revenue Bond - Safe Drinking Water 1998 11,913,672 4,914,955 6,998,717
G O Corporate Purpose Bonds -Improvements to Streets, Storm 1998 3,975,000 3,975,000 0
& Sanitary Sewers, Parks, Property & Water Utility, & Special
Assessments.
G O Corporate Purpose Refunding Bonds -1999 4,540,000 2,235,000 2,305,000
Clean Water Fund - Improvements to sewer utility. 1999 3,169,210 1,212,793 1,956,417
Corporate Purpose Bond Issue - Improvements to streets,1999 3,560,000 1,505,000 2,055,000
storm sewers, sanitary sewers, water, parks and property
improvements.
Water Revenue Bonds - Safe Drinking Water 2000 13,636,364 4,836,557 8,799,807
Corporate Purpose Bonds - Improvements to Streets,2000 8,305,000 8,305,000 0
Storm & Sanitary Sewers, Parks, Property & Water
Utility, & Special Assessments.
Corporate Purpose Bond Issue - Improvements to streets,2001A 6,390,000 6,390,000 0
storm sewers, sanitary sewers, parks and property
improvements.
Safe Drinking Water Bond 2001 3,483,913 1,011,327 2,472,586
Corporate Purpose Bonds 2002A 11,225,000 2,165,000 9,060,000
Corporate Purpose Taxable Bonds 2002C 7,580,000 1,355,000 6,225,000
Corporate Purpose Bonds 03A, Park Improvements,2003A 11,675,000 1,925,000 9,750,000
Splash pad, Fire Engine, repl Transit buses, upgrade
Cable TV, storm, TIF 19, 18, 14, 13, 12.
Corporate Purpose Taxable Bonds 2003C 1,420,000 220,000 1,200,000
Corporate Purpose Taxable Ref Bonds, TIF 15, TIF 11,2003D 8,615,000 3,035,000 5,580,000
TIF 13, TIF 12, TIF 8, TIF 14
Corporate Purpose Refunding Bonds, Gen and Parking 2003E 1,050,000 415,000 635,000
Water Rev Ref Bonds 2003G 2,065,000 1,385,000 680,000
Corporate Purpose Bonds 04A, Sawyer St and bridge,2004A 6,480,000 865,000 5,615,000
Witzel and Church Ave, Park Imp, Swr, Wtr, Storm,
Gen, TIF 19-NW Ind Park, TIF 14-Mercy Medical
Centre Taxable Rev Ref Bonds 2004 2,065,000 1,430,000 635,000
Rev Bond Clean Water Fund 2004 3,361,441 510,118 2,851,323
Corporate Purpose G O Bonds 2005A, playground,2005A 7,395,000 850,000 6,545,000
Three basketball courts, TIF 19, TIF 14, TIF 18, Wtr,
Swr, General
Storm Water Revenue Bonds 2005C 2005C 4,820,000 525,000 4,295,000
Corporate Purpose Refunding Bonds 2005D 2005D 18,335,000 2,195,000 16,140,000
Corporate Purpose Bonds 2006A, streets, floating dock 2006A 9,265,000 660,000 8,605,000
along amphitheater, swr, gen, TIF20
Corporate Purpose GO Bonds 2006C, Tif 20 2006C 1,995,000 135,000 1,860,000
G O Refunding Bonds 2006D, ref 1998-C and 1998-D 2006D 11,865,000 4,735,000 7,130,000
Water Rev Ref Bonds 2006G 12,705,000 785,000 11,920,000
Corporate Purpose G O Bonds 2007A, Streets, Swr,2007A 7,950,000 280,000 7,670,000
Park Improvements, Water
Corporate Purpose G O Bonds 2008A 2008A 5,105,000 5,105,000
Water Revenue Bonds, Safe Drinking, 2008 2008 1,344,824 1,344,824
Water Revenue Bonds, 2008C 2008c 4,410,000 4,410,000 0
TOTAL BONDS 221,167,236 75,598,499 145,568,737
Exhibit A-13 CITY OF OSHKOSH
(1 OF 3)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES AND REVENUE BONDS
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2008
Calendar
Year Bonds Notes Revenue Bonds Total
2009 11,970,119$ 4,953,970$ 5,932,266$ 22,856,355$
2010 11,289,076 3,922,275 6,015,638 21,226,989
2011 10,726,051 3,228,923 5,669,932 19,624,906
2012 10,155,801 2,907,164 5,428,657 18,491,622
2013 9,050,361 2,565,657 5,201,125 16,817,143
2014 8,953,193 2,349,351 5,201,292 16,503,836
2015 8,705,963 2,019,176 3,842,224 14,567,363
2016 8,430,374 1,677,899 3,840,660 13,948,933
2017 8,178,014 1,227,699 3,847,495 13,253,208
2018 7,842,912 1,014,498 3,872,393 12,729,803
2019 7,565,349 858,756 3,077,756 11,501,861
2020 6,902,202 858,755 1,941,082 9,702,039
2021 6,143,556 637,891 1,947,541 8,728,988
2022 4,197,419 638,708 1,494,552 6,330,679
2023 3,096,946 557,329 1,494,023 5,148,298
2024 2,493,185 400,034 1,496,355 4,389,574
2025 1,912,890 282,492 1,287,054 3,482,436
2026 1,031,638 120,670 87,711 1,240,019
2027 392,813 120,670 87,690 601,173
2028 0 0 87,666 87,666
129,037,862$ 30,341,917$ 61,853,112$ 221,232,891$
SPECIAL ASSESSMENTS AS OF 12-31-08
Total Special Assessments against property in the City of Oshkosh are as follows:
Street Improvements 1,541,206$
Sanitary Sewers 192,570
Water Mains 56,725
Sidewalks 333,002
Deferred Assessments 158,875
Plumbing 14,520
Electrical 0
Overlay 36,729
Engineering 0
2,333,627$
The City of Oshkosh is not responsible for the payments of the above special assessments and the special
assessments cannot be paid from ad valorem taxes.
Exhibit A-13 CITY OF OSHKOSH
(2 OF 3)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES AND REVENUE BONDS
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2008
Calendar
Year Bonds Notes Revenue Bonds Total
2009 7,775,000$ 4,052,948$ 4,314,828$ 16,142,776$
2010 7,390,000 3,022,065 4,539,045 14,951,110
2011 7,120,000 2,484,707 4,345,516 13,950,223
2012 6,850,000 2,260,903 4,244,897 13,355,800
2013 6,040,000 2,010,647 4,149,714 12,200,361
2014 6,205,000 1,875,678 4,281,829 12,362,507
2015 6,230,000 1,622,155 3,037,021 10,889,176
2016 6,230,000 1,349,341 3,131,156 10,710,497
2017 6,260,000 959,689 3,236,925 10,456,614
2018 6,210,000 790,932 3,364,371 10,365,303
2019 6,215,000 673,178 2,668,084 9,556,262
2020 5,840,000 705,569 1,606,032 8,151,601
2021 5,355,000 519,515 1,673,301 7,547,816
2022 3,665,000 545,933 1,282,093 5,493,026
2023 2,730,000 491,461 1,333,709 4,555,170
2024 2,250,000 358,218 1,390,482 3,998,700
2025 1,770,000 258,279 1,235,773 3,264,052
2026 970,000 108,932 82,683 1,161,615
2027 375,000 114,651 84,639 574,290
2028 0 0 86,641 86,641
95,480,000$ 24,204,801$ 50,088,739$ 169,773,540$
Exhibit A-13 CITY OF OSHKOSH
(3 OF 3)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL INTEREST REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES AND REVENUE BONDS
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2008
Calendar
Year Bonds Notes Revenue Bonds Total
2009 4,195,119$ 901,022$ 1,617,438$ 6,713,579$
2010 3,899,076 900,210 1,476,593 6,275,879
2011 3,606,051 744,216 1,324,416 5,674,683
2012 3,305,801 646,261 1,183,760 5,135,822
2013 3,010,361 555,010 1,051,411 4,616,782
2014 2,748,193 473,673 919,463 4,141,329
2015 2,475,963 397,021 805,203 3,678,187
2016 2,200,374 328,558 709,504 3,238,436
2017 1,918,014 268,010 610,570 2,796,594
2018 1,632,912 223,566 508,022 2,364,500
2019 1,350,349 185,578 409,672 1,945,599
2000 1,062,202 153,186 335,050 1,550,438
2021 788,556 118,376 274,240 1,181,172
2022 532,419 92,775 212,459 837,653
2023 366,946 65,868 160,314 593,128
2024 243,185 41,816 105,873 390,874
2025 142,890 24,213 51,281 218,384
2026 61,638 11,738 5,028 78,404
2027 17,813 6,019 3,051 26,883
2028 0 0 1,025 1,025
33,557,862$ 6,137,116$ 11,764,373$ 51,459,351$
Exhibit A-14
CITY OF OSHKOSH
(1 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION BONDS AND NOTES
(Includes Amounts Issued to Other Funds)
December 31, 2008
BONDS
Calendar
Year Principal Interest Total
2009 7,775,000$ 4,195,119$ 11,970,119$
2010 7,390,000 3,899,076 11,289,076
2011 7,120,000 3,606,051 10,726,051
2012 6,850,000 3,305,801 10,155,801
2013 6,040,000 3,010,361 9,050,361
2014 6,205,000 2,748,193 8,953,193
2015 6,230,000 2,475,963 8,705,963
2016 6,230,000 2,200,374 8,430,374
2017 6,260,000 1,918,014 8,178,014
2018 6,210,000 1,632,912 7,842,912
2019 6,215,000 1,350,349 7,565,349
2020 5,840,000 1,062,202 6,902,202
2021 5,355,000 788,556 6,143,556
2022 3,665,000 532,419 4,197,419
2023 2,730,000 366,946 3,096,946
2024 2,250,000 243,185 2,493,185
2025 1,770,000 142,890 1,912,890
2026 970,000 61,638 1,031,638
2027 375,000 17,813 392,813
95,480,000$ 33,557,862$ 129,037,862$
Exhibit A-14
CITY OF OSHKOSH
(1 OF 12 Cont'd)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION BONDS AND NOTES
(Includes Amounts Issued to Other Funds)
December 31, 2008
BANK NOTES
Calendar
Year Principal Interest Total
2009 4,052,948$ 901,022$ 4,953,970$
2010 3,022,065 900,210 3,922,275
2011 2,484,707 744,216 3,228,923
2012 2,260,903 646,261 2,907,164
2013 2,010,647 555,010 2,565,657
2014 1,875,678 473,673 2,349,351
2015 1,622,155 397,021 2,019,176
2016 1,349,341 328,558 1,677,899
2017 959,689 268,010 1,227,699
2018 790,932 223,566 1,014,498
2019 673,178 185,578 858,756
2020 705,569 153,186 858,755
2021 519,515 118,376 637,891
2022 545,933 92,775 638,708
2023 491,461 65,868 557,329
2024 358,218 41,816 400,034
2025 258,279 24,213 282,492
2026 108,932 11,738 120,670
2027 114,651 6,019 120,670
24,204,801$ 6,137,116$ 30,341,917$
TOTAL G.O. INDEBTNESS 119,684,801$ 39,694,978$ 159,379,779$
Exhibit A-14
CITY OF OSHKOSH
(2 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2008
Calendar
Year Notes Bonds Total
2009 4,953,971$ 11,970,119$ 16,924,090$
2010 3,922,275 11,289,076 15,211,351
2011 3,228,923 10,726,051 13,954,974
2012 2,907,164 10,155,801 13,062,965
2013 2,565,657 9,050,361 11,616,018
2014 2,349,352 8,953,193 11,302,545
2015 2,019,176 8,705,963 10,725,139
2016 1,677,899 8,430,374 10,108,273
2017 1,227,699 8,178,014 9,405,713
2018 1,014,499 7,842,912 8,857,411
2019 858,755 7,565,349 8,424,104
2020 858,755 6,902,202 7,760,957
2021 637,891 6,143,556 6,781,447
2022 638,707 4,197,419 4,836,126
2023 557,329 3,096,946 3,654,275
2024 400,033 2,493,185 2,893,218
2025 282,492 1,912,890 2,195,382
2026 120,670 1,031,638 1,152,308
120,670 392,813 513,483
30,341,917$ 129,037,862$ 159,379,779$
Exhibit A-14
CITY OF OSHKOSH
(3 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR GENERAL CITY PURPOSES
December 31, 2008
Calendar
Year Principal Interest Total
2009 5,174,656$ 2,204,082$ 7,378,738$
2010 5,038,961 2,119,333 7,158,294
2011 5,018,109 1,893,426 6,911,535
2012 4,926,329 1,693,454 6,619,783
2013 4,027,730 1,492,677 5,520,407
2014 3,933,766 1,327,726 5,261,492
2015 3,677,703 1,165,314 4,843,017
2016 3,439,251 1,012,589 4,451,840
2017 3,096,620 863,529 3,960,149
2018 2,739,994 729,617 3,469,611
2019 2,641,263 611,325 3,252,588
2020 2,434,678 497,800 2,932,478
2021 1,948,982 390,308 2,339,290
2022 1,652,449 303,700 1,956,149
2023 1,448,740 230,510 1,679,250
2024 1,365,141 164,698 1,529,839
2025 1,138,365 102,975 1,241,340
2026 666,356 50,831 717,187
2027 415,711 19,950 435,661
54,784,804$ 16,873,844$ 71,658,648$
Debt Service Payments are to be made from future User fees.
Exhibit A-14
CITY OF OSHKOSH
(4 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR SEWER UTILITY
December 31, 2008
Calendar
Year Principal Interest Total
2009 1,391,496$ 585,618$ 1,977,114$
2010 1,278,132 530,705 1,808,837
2011 1,001,787 483,376 1,485,163
2012 901,815 443,490 1,345,305
2013 845,589 407,632 1,253,221
2014 869,501 374,074 1,243,575
2015 837,596 339,090 1,176,686
2016 821,280 304,808 1,126,088
2017 807,402 269,257 1,076,659
2018 843,631 234,046 1,077,677
2019 863,554 198,680 1,062,234
2020 802,674 162,114 964,788
2021 697,399 127,521 824,920
2022 592,672 96,707 689,379
2023 553,291 71,234 624,525
2024 467,339 46,236 513,575
2025 342,351 26,010 368,361
2026 249,154 10,900 260,054
14,166,663$ 4,711,498$ 18,878,161$
Debt Service Payments are made from the Utility User Fees.
Exhibit A-14
CITY OF OSHKOSH
(5 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR STORM WATER UTILITY
December 31, 2008
Calendar
Year Principal Interest Total
2009 262,379$ 176,351$ 438,730$
2010 270,347 167,288 437,635
2011 282,448 157,508 439,956
2012 293,126 145,295 438,421
2013 285,589 132,550 418,139
2014 295,056 121,284 416,340
2015 283,330 109,524 392,854
2016 263,916 97,888 361,804
2017 270,138 86,766 356,904
2018 282,531 75,372 357,903
2019 295,892 63,150 359,042
2020 308,286 50,038 358,324
2021 322,035 36,048 358,083
2022 336,752 21,172 357,924
2023 93,931 5,402 99,333
2024 0 0 0
2025 0 0 0
4,145,756$ 1,445,636$ 5,591,392$
Debt Service Payments are made from the Utility User Fees.
Exhibit A-14
CITY OF OSHKOSH
(6 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR WATER UTILITY
December 31, 2008
Calendar
Year Principal Interest Total
2009 1,262,481$ 476,222$ 1,738,703$
2010 1,157,446 428,622 1,586,068
2011 977,468 386,638 1,364,106
2012 763,037 348,262 1,111,299
2013 798,724 317,399 1,116,123
2014 772,085 285,329 1,057,414
2015 771,398 254,007 1,025,405
2016 778,242 221,967 1,000,209
2017 658,790 188,683 847,473
2018 628,255 159,928 788,183
2019 628,059 132,562 760,621
2020 574,235 104,964 679,199
2021 597,748 79,104 676,852
2022 446,777 51,872 498,649
2023 317,855 32,251 350,106
2024 224,990 17,442 242,432
2025 88,512 7,948 96,460
2026 93,170 4,076 97,246
11,539,272$ 3,497,276$ 15,036,548$
Debt Service Payments are made from the Utility User Fees.
Exhibit A-14
CITY OF OSHKOSH
(7 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR PARKING UTILITY
December 31, 2008
Calendar
Year Principal Interest Total
2009 50,889$ 12,197$ 63,086$
2010 50,500 10,477 60,977
2011 50,000 8,706 58,706
2012 48,667 6,817 55,484
2013 48,666 4,953 53,619
2014 58,000 2,967 60,967
2015 27,222 1,232 28,454
333,944$ 47,349$ 381,293$
Debt Service Payments are made from User Fees.
Exhibit A-14
CITY OF OSHKOSH
(8 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR TRANSIT SYSTEM
December 31, 2008
Calendar
Year Principal Interest Total
2009 95,116$ 13,206$ 108,322$
2010 99,349 9,688 109,037
2011 104,250 5,966 110,216
2012 46,647 1,916 48,563
2013 1,200 140 1,340
2014 1,240 96 1,336
2015 1,320 50 1,370
349,122$ 31,062$ 380,184$
Debt Service Payments are made from User Fees.
Exhibit A-14
CITY OF OSHKOSH
(9 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR INDUSTRIAL PARK
December 31, 2008
Calendar
Year Principal Interest Total
2009 255,729$ 75,261$ 330,990$
2010 155,973 126,497 282,470
2011 173,719 108,750 282,469
2012 181,629 100,840 282,469
2013 190,466 92,004 282,470
2014 199,444 83,025 282,469
2015 208,848 73,621 282,469
2016 218,522 63,947 282,469
2017 229,003 53,465 282,468
2018 239,807 42,664 282,471
2019 95,377 31,349 126,726
2020 100,145 26,580 126,725
2021 105,302 21,424 126,726
2022 111,464 16,078 127,542
2023 35,744 10,420 46,164
2024 37,598 8,566 46,164
2025 39,595 6,569 46,164
2026 41,674 4,491 46,165
2027 43,861 2,303 46,164
2,663,900$ 947,854$ 3,611,754$
Debt Service Payments are made from land sales.
Exhibit A-14
CITY OF OSHKOSH
(10 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR TAX INCREMENTAL FINANCING DISTRICTS
December 31, 2008
Calendar
Year Principal Interest Total
2009 2,197,695$ 1,490,216$ 3,687,911$
2010 2,291,479 896,492 3,187,971
2011 1,923,780 1,798,748 3,722,528
2012 1,874,201 1,207,194 3,081,395
2013 1,841,669 1,116,086 2,957,755
2014 1,940,285 1,025,870 2,966,155
2015 2,033,044 929,091 2,962,135
2016 2,045,974 827,145 2,873,119
2017 2,155,119 724,219 2,879,338
2018 2,266,719 614,858 2,881,577
2019 2,364,033 498,850 2,862,883
2020 2,325,555 373,898 2,699,453
2021 2,203,049 252,527 2,455,576
2022 987,108 131,691 1,118,799
2023 855,611 86,978 942,589
2024 513,150 48,061 561,211
2025 419,460 23,599 443,059
2026 28,579 3,080 31,659
2027 30,080 1,579 31,659
30,296,590$ 12,050,182$ 42,346,772$
Debt Service Payments are to be made from future User fees.
Exhibit A-14
CITY OF OSHKOSH
(11 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR CABLE TV
December 31, 2008
Calendar
Year Principal Interest Total
2009 63,207$ 10,530$ 73,737$
2010 65,340 8,410 73,750
2011 68,431 6,158 74,589
2012 70,566 3,674 74,240
2013 5,852 982 6,834
2014 6,000 746 6,746
2015 6,222 506 6,728
2016 6,444 258 6,702
292,062$ 31,264$ 323,326$
Debt Service Payments are made from PEG Access Fees.
Exhibit A-14
CITY OF OSHKOSH
(12 OF 12)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR GOLF COURSE
December 31, 2008
Calendar
Year Principal Interest Total
2009 1,074,297$ 52,444$ 1,126,741$
2010 4,537 1,462 5,999
2011 4,712 1,294 6,006
2012 4,887 1,122 6,009
2013 5,162 942 6,104
2014 5,300 748 6,048
2015 5,475 548 6,023
2016 5,714 332 6,046
2017 2,620 104 2,724
1,112,704$ 58,996$ 1,171,700$
Debt Service Payments are made from the Utility User Fees.
Exhibit A-15
CITY OF OSHKOSH
(1 OF 6)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS.
REVENUE BONDS
(Includes Amounts Issued to Other Funds)
December 31, 2008
Calendar
Year Principal Interest Total
2009 4,314,828$ 1,617,438$ 5,932,266$
2010 4,539,045 1,476,593 6,015,638
2011 4,345,516 1,324,416 5,669,932
2012 4,244,897 1,183,760 5,428,657
2013 4,149,714 1,051,411 5,201,125
2014 4,281,829 919,463 5,201,292
2015 3,037,021 805,203 3,842,224
2016 3,131,156 709,504 3,840,660
2017 3,236,925 610,570 3,847,495
2018 3,364,371 508,022 3,872,393
2019 2,668,084 409,672 3,077,756
2020 1,606,032 335,050 1,941,082
2021 1,673,301 274,240 1,947,541
2022 1,282,093 212,459 1,494,552
2023 1,333,709 160,314 1,494,023
2024 1,390,482 105,873 1,496,355
2025 1,235,773 51,281 1,287,054
2026 82,683 5,028 87,711
2027 84,639 3,051 87,690
2028 86,641 1,025 87,666
TOTAL REVENUE DEBT 50,088,739$ 11,764,373$ 61,853,112$
Exhibit A-15
CITY OF OSHKOSH
(2 OF 6)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR TAX INCREMENTAL FINANCING DISTRICTS
December 31, 2008
Calendar
Year Principal Interest Total
2009 220,000$ 24,802$ 244,802$
2010 225,000 17,376 242,376
2011 235,000 9,164 244,164
2012 0 0 0
680,000$ 51,342$ 731,342$
Exhibit A-15
CITY OF OSHKOSH
(3 OF 6)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR WATER UTILITY
December 31, 2008
Calendar
Year Principal Interest Total
2009 1,979,619$ 1,023,115$ 3,002,734$
2010 2,127,750 963,661 3,091,411
2011 2,191,503 896,895 3,088,398
2012 2,266,480 828,090 3,094,570
2013 2,322,718 756,804 3,079,522
2014 2,395,253 683,803 3,079,056
2015 2,459,119 608,450 3,067,569
2016 2,534,354 531,110 3,065,464
2017 2,620,999 451,345 3,072,344
2018 2,729,090 368,709 3,097,799
2019 2,013,211 291,058 2,304,269
2020 1,133,575 235,380 1,368,955
2021 1,186,234 191,706 1,377,940
2022 775,303 147,946 923,249
2023 812,084 114,644 926,728
2024 848,907 79,725 928,632
2025 885,773 43,187 928,960
2026 82,683 5,028 87,711
2027 84,639 3,051 87,690
2028 86,641 1,025 87,666
31,535,935$ 8,224,732$ 39,760,667$
Debt Service Payments are made from the Utility User Fees.
Exhibit A-15
CITY OF OSHKOSH
(4 OF 6)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR OSHKOSH CENTRE
December 31, 2008
Calendar
Year Principal Interest Total
2009 310,000$ 32,400$ 342,400$
2010 325,000 16,900 341,900
2011 0 0 0
635,000$ 49,300$ 684,300$
Exhibit A-15
CITY OF OSHKOSH
(5 OF 6)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR SEWER UTILITY
December 31, 2008
Calendar
Year Principal Interest Total
2009 1,620,209$ 360,497$ 1,980,706$
2010 1,671,295 308,595 1,979,890
2011 1,724,013 255,034 1,979,047
2012 1,778,417 199,760 1,978,177
2013 1,616,996 146,896 1,763,892
2014 1,666,576 96,549 1,763,125
2015 352,902 66,542 419,444
2016 361,802 57,530 419,332
2017 370,926 48,291 419,217
2018 380,281 38,818 419,099
2019 389,873 29,105 418,978
2020 192,457 21,882 214,339
2021 197,067 17,216 214,283
2022 201,790 12,438 214,228
2023 206,625 7,545 214,170
2024 211,575 2,535 214,110
12,942,804$ 1,669,233$ 14,612,037$
Exhibit A-15
CITY OF OSHKOSH
(6 OF 6)
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR STORM WATER UTILITY
December 31, 2008
Calendar
Year Principal Interest Total
2009 185,000$ 176,624$ 361,624$
2010 190,000 170,061 360,061
2011 195,000 163,323 358,323
2012 200,000 155,910 355,910
2013 210,000 147,711 357,711
2014 220,000 139,111 359,111
2015 225,000 130,211 355,211
2016 235,000 120,864 355,864
2017 245,000 110,934 355,934
2018 255,000 100,495 355,495
2019 265,000 89,509 354,509
2020 280,000 77,788 357,788
2021 290,000 65,318 355,318
2022 305,000 52,075 357,075
2023 315,000 38,125 353,125
2024 330,000 23,613 353,613
2025 350,000 8,094 358,094
4,295,000$ 1,769,766$ 6,064,766$
Exhibit A-16
Total Average Sales
Personal School Price of Residential Total Assessed
Year Income (2) Enrollment (5) Property (7) Property Value (8)
2008 65,920 $2,609,772,800 $39,590 49 10,335 5.3% 136,218 $3,658,905,250
2007 65,810 $2,514,402,670 $38,207 49 10,374 4.6% 126,136 $3,571,509,200
2006 65,510 2,585,548,680 39,468 46 10,299 4.8% 160,402 3,483,887,600
2005 65,445 2,253,009,570 34,426 n/a 10,256 5.0% 117,345 3,396,162,800
2004 65,095 2,217,981,935 34,073 n/a 10,304 5.1% 118,240 2,368,259,800
2003 64,327 2,107,931,463 32,769 n/a 10,406 6.0% 126,409 2,329,972,500
2002 64,132 2,120,652,844 33,067 n/a 10,547 5.4% 106,951 2,266,847,900
2001 63,225 1,996,266,150 31,574 n/a 10,658 3.3% 99,939 2,203,098,900
2000 63,192 2,200,471,824 34,822 n/a 10,602 3.1% 153,881 2,140,360,100
1999 62,695 2,101,285,620 33,516 n/a 10,618 2.7% 88,452 2,072,830,600
Source: (1) U.S. Census, Census of population
(2) Computation of per capita personal income multiplied by population
(3) Based on Current Population Survey data and are not directly comparable to prior years' figures, which were based on the 2000 Census.
(3) Wisconsin's Workforce Development Website: worknet.wisconsin.gov (Winnebago County)
(4) Oshkosh Chamber of Commerce - Demographics
(5) Oshkosh Board of Education
(6) Wisconsin Department of Workforce Development Website: worknet.wisconsin.gov
(7) City of Oshkosh Assessor and IT Department
(8) City of Oshkosh Official Statement
Unemployment
Population (1) Income (3) Age (4) Rate (6)
Personal Median
City of Oshkosh, Wisconsin
Demographic and Economic Statistics
Per Capita
Last Ten Years
Total Assessed Property Value (8)
0
1,000,000,000
2,000,000,000
3,000,000,000
4,000,000,000
Year
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
Total Assessed
Exhibit A-17
CITY OF OSHKOSH, WISCONSIN (1 of 2)
PRINCIPAL EMPLOYERS
CURRENT YEAR AND TEN YEARS AGO
Percentage Percentage
of Total of Total
City City
Manufacturing 2008 Rank Employment 1998 Rank Employment
Axel Tech International / Rockwell 250 5 0.73% 450 5 n/a
Arrowhead Conveyor Co., Inc. 110 14 0.32% 227 11 n/a
Baldor Generators 132 10 0.39%
Bemis (includes; Milprint (formerly Banner), Curwood,
and Perfect Seal 1,880 2 5.49% 1,855 1 n/a
Buckstaff Company 88 18 0.26% 207 12 n/a
GE Oil & Gas Operations 415 5 1.21%
General Beverage 189 8 0.55% 125 16
Hoffmaster, A Solo Cup Company / Scott 617 4 1.80% 490 3 n/a
Jeld-Wen Premium Wood Doors / Morgan Products Ltd 200 7 0.58% 320 8 n/a
Lapham-Hickey Steel 200 7 0.58%
Leach Company 394 7 n/a
Marvel Manufacturing 106 15 0.31%
*Miles Kimball Company 1,500 3 4.38% 460 4 n/a
* includes 400 FT, 1100 PT and seasonal
Muza Metal Products 150 9 0.44% 108 19 n/a
Nercon Engineering 114 12 0.33% 189 13 n/a
Newark Paperboard Products 112 13 0.33%
O E C Graphics 104 16 0.30% 112 17
Oshkosh B'Gosh 425 6 n/a
Oshkosh Coil Spring, Inc. 112 13 0.33%
Oshkosh Door Co.117 11 0.34% 110 18
Oshkosh Corporation 2,712 1 7.92% 1,836 2 n/a
Pluswood, Inc.102 17 0.30% 151 14 n/a
SNC Manufacturing Company 91 0.27% 274 9 n/a
Seven-Up Bottling Co. of Oshkosh, Inc.132 15 n/a
Square D 260 10 n/a
TOTAL 9,301 27.15% 8,125 0.00%
Non-Manufacturing
4imprint 338 8 0.99%
Affinity Health System 803 1 2.34% 1,200 1 n/a
Aurora Medical Group 1,079 2 3.15%
Clarity Care 500 4 1.46% 489 2 n/a
EAA 225 10 0.66% 274 5 n/a
Eastbay, Inc.350 6 1.02%
Evergreen Retirement Community 275 9 0.80% 248 6 n/a
Lutheran Homes of Oshkosh 342 7 1.00% 290 4 n/a
Northpoint Med & Rehab 195 11 0.57% 205 7 n/a
Oshkosh Community YMCA 350 6 1.02%
U S Bank 750 3 2.19% 325 3 n/a
Wal-Mart 431 5 1.26% 184 8 n/a
TOTAL 5,638 16.46% 3,215 0.00%
Exhibit A-17
(2 of 2)
Government
City of Oshkosh 650 5 1.90% 545 4 n/a
CESA6 289 8 0.84%
Oshkosh Correctional Institution 524 6 1.53%
Oshkosh Public Schools 1,580 2 4.61% 1,254 2 n/a
Oshkosh Post Office 341 7 1.00% 362 5 n/a
University of Wisconsin - Oshkosh 1,632 1 4.76% 1,475 1 n/a
Winnebago County 1,047 3 3.06% 1,100 3 n/a
Winnebago Mental Health Institute 750 4 2.19%
TOTAL 6,813 19.89% 4,736 0.00%
Source: Oshkosh Chamber of Commerce,
2007 Average; Civilian Labor - 36,104. Employment = 34,252
Exhibit A-17a
CITY OF OSHKOSH, WI
Winnebago, Outagamie, and Calumet Counties
LABOR
The cities of Oshkosh and Appleton form a standard metropolitan statistical area encompassing
a three county area - Winnebago,Outagamie, and Calumet Counties, having a combined
population of 386,428. Within a 50 mile radius of Oshkosh reside a total of over 1,269,331 persons.
Oshkosh is, therefore, well supplied with a large growing labor pool as well as substantial retail,
wholesale, and industrial markets.
Numerically presented, the employment mix averaged as follows for 2006.
Place of Residence Data
Total Civilian Labor Force 211,847
Unemployment 11,318
Percent of Civilian Labor Force 5.3
Employment 200,529
Place of Work
Nonfarm Wage and Salary 210,300
Total Private 184,600
Goods Producing 55,500
Nat Res., Mining, & Construction 11,200
Manufacturing 44,300
Service Producing 154,800
Trade 37,900
Wholesale Trade 7,500
Retail Trade 23,600
Transportation, Warehouse, and Utilities 6,800
Information 3,700
Finance Activities 12,000
Professional & Business Services 22,900
Educational & Health Services 24,900
Leisure & Hospitality 17,100
Other Services, except Public Admin 10,600
Government 25,700
Federal 1,100
State 5,700
Local 18,900
Source: State of Wisconsin - Department of Administration
Exhibit A-18
CITY OF OSHKOSH, WISCONSIN
NUMBERS OF FULL-TIME EMPLOYEES AUTHORIZED
Last Ten Fiscal Years
ACCOUNT PURPOSE 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
002 Manager 2 2 2 2 2 2 2 2 2 2
003 Attorney 3 3 3 3 3 3 3 3 3 3
004 Personnel 3 3.5 4 4 4 4 4 5 5 5
005 Clerk 3 3 3 3 3 3 3 3 3 3
007 Collection 14 14 14 14 14 14 14 14 14 14
008 Assessor 6 6 6 6 6 6 6 6 6 6
009 Purchasing 3 2.5 3 3 3 3 3 3 2 2
010 Cent.Srvs. 1 1 1 1 1 1 1 1 1 1
011 Computers 6 7 9 9 7 7 7 7 7 7
015 Media Srvcs 2 3 3 3 3 3 3 3 3 3
016 Safety 1 1 1 1 1 1 1 1 1 1
013 Facilities 3 3 3 3 3 3 4 4 4 4
021 Police 114 116 118 118 118 117 118 117 116 116
022 Anml. Contr. 0 0 0 0 0 0 0 0 0 0
023 Fire 104 104 104 103 103 103 109 109 108 108
031 Health 6 6 6 6 6 6 6 6 6 6
032 Laboratory 0 0 0 0 0 0 0 0 0 0
033 Nurses 3 3 3 3 3 3 3 3 3 3
041 Public Wrks. 3 3 3 3 3 3 3 3 3 3
042 Engineers 12 12 12 12 12 12 13 13 12 11
043 Streets 40 40 40 40 37 40 34 33 32 30
045 Garage 7 7 8 8 8 8 8 8 8 8
050 Garbage 13 13 13 13 13 13 13 13 11 11
051 Recycling 9 9 9 9 7 7 7 7 7 7
061 Parks 17 17 17 17 16.5 16.5 16.5 16.5 15.5 15.5
062 Forestry 3 3 3 3 4 4 4 4 4 4
063 Golf 0 0 2 2 2 2 2 2 2 2
065 Cemetery 4 4 4 4 4 4 4 4 4 4
074 Planning 7 7 7 7 7 9 9 9 9.5 9.5
075 Codes 7 9 10 10 10 10 10 10 10.5 10.5
080 Transportation 7 7 7 7 7 7 7 7 7 7
771 Library 37.2 38.88 38.9 37.1 36.4 36.4 36.9 35.9 32.5 31.6
772 Museum 9 9 10 10 10 10 10 10 10 9
728 Transit 26 28 28 28 28 28 28 28 28 28
773 Conv & Tour 0 0 0 0 0 0 0 0 0 0
717 Parking 3 3 3 3 3 3 2 2 2 2
1810 Water 28.5 31.5 32.5 32 33 33 31 31 31 31.33
1910 Sewer 30.5 33.5 33.5 33 36 32.5 34 34 34 32.33
2010 Storm 0 0 0 0 7.5 2 7 7 7 7
076 Senior Services 3 4 5 5 5 5 6 6 6 6
079 Housing 15 15 15 15 17 16 14 14 0 0
1020 Grand 0 0 0 0 0 0 0 0 0 0
1040 Conv. Ctr. 0 0 0 0 0 0 0 0 0 0
255 Parks Rev.0 0 0 0 0.5 0.5 0.5 0.5 0.5 0.5
TOTAL 555.20 571.88 583.90 580.10 586.90 580.90 586.90 584.90 560.50 554.26
Source: City of Oshkosh Finance Department
Exhibit A-19
CITY OF OSHKOSH, WISCONSIN
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (1)
1999-2008
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GENERAL GOVERNMENT:
Common Council 35,940$ 37,844$ 37,492$ 38,424$ 38,827$ 39,740$ 39,726$ 39,538$ 39,052$ 39,875$
Manager & Staff Emp. 866,448 927,105 1,089,905 1,082,296 1,128,051 1,157,925 1,229,373 1,429,741 1,594,541 1,439,869
Dept. of Administration 3,457,738 3,441,433 3,779,327 3,786,863 3,811,649 3,822,024 4,215,765 4,054,758 4,128,835 4,369,793
Public Safety 15,325,818 15,742,958 17,169,292 17,483,141 18,242,353 19,165,240 20,446,059 20,793,621 20,867,682 21,958,685
Garbage & Refuse Coll. 1,315,748 1,229,065 1,266,761 1,286,599 1,358,580 1,363,750 1,549,476 1,549,409 1,325,292 1,341,288
Public Works 4,951,724 5,144,453 5,887,123 5,402,429 5,051,208 5,203,187 5,015,268 5,124,711 5,117,650 6,038,287
Street Lights 754,143 795,139 862,333 851,804 606,973 592,520 615,916 589,271 623,310 629,293
Maint. of Facilities 432,877 498,114 591,722 651,328 718,067 723,315 681,972 746,831 769,203 829,207
& Inspections
Parks & Forestry 1,291,919 1,372,728 1,662,071 1,507,767 1,529,314 1,641,053 1,658,854 1,600,051 1,707,219 1,701,506
Pollock Pool 28,457 29,760 35,599 31,176 35,070 2,800 3,710 0 0 0
Pollock Comm Wtr Park 35,848 44,554 56,513
Riverside Cemetery 214,361 214,223 472,772 156,962 185,551 167,615 203,103 215,194 217,278 238,597
Library 1,747,978 1,974,367 2,020,581 2,125,308 2,407,345 2,235,691 2,454,405 2,401,238 2,509,639 2,268,377
Museum 590,322 741,408 560,020 684,005 706,101 717,441 742,907 699,524 799,058 847,267
Planning & Research 487,355 533,145 573,800 630,327 635,523 651,897 710,719 760,366 790,374 795,448
Debt Service Fund 8,929,755 9,163,772 10,930,144 12,008,866 13,685,068 14,836,550 15,394,793 15,824,907 16,330,462 16,490,425
Housing Authority 626,205 572,065 651,643 685,965 766,845 745,757 735,141 414,457 0 0
Senior Services 241,563 259,278 332,325 350,917 316,471 300,596 340,910 352,107 460,902 337,187
Recycling 1,002,836 1,017,610 1,077,038 895,040 858,327 735,874 710,518 563,994 397,145 345,782
City/County Safety Bldg 0 0 0 0 0 1,270,914 0 0 0 0
Unclassified 374,534 468,662 428,320 490,905 472,968 559,145 496,203 395,766 416,416 675,717
42,675,721$ 44,163,129$ 49,428,268$ 50,150,122$ 52,554,291$ 55,933,034$ 57,244,818$ 57,591,332$ 58,138,612$ 60,403,117$
(1) Includes General Fund, Principal Special Revenue Funds (Library, Museum, Street Lights, Senior Services and Recycling) and the Debt Service Fund.
Source: City of Oshkosh Finance Department
Exhibit A-20
CITY OF OSHKOSH, WISCONSIN
GENERAL GOVERNMENTAL REVENUES BY SOURCE
1999-2008
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
REVENUES
Taxes & Special Assess. 16,844,455$ 17,195,194$ 19,293,931$ 21,503,179$ 22,476,451$ 24,274,716$ 24,601,129$ 24,618,227$ 25,939,725$ 26,902,068$
Licenses & Permits 664,555 748,964 826,693 1,030,340 88,914 856,609 1,032,128 1,214,293 1,322,421 1,216,972
Fines & Costs 695,673 909,425 884,251 843,119 833,600 860,621 750,571 784,376 733,249 672,789
Shared Taxes - State and 15,586,281 16,490,005 16,962,918 16,861,917 17,446,096 16,480,520 16,586,851 17,276,831 16,959,446 17,254,764
Federal Aids
Use of Property and Money 1,042,552 1,346,834 950,468 550,145 519,627 443,449 514,972 950,556 1,173,004 980,931
Charges for Current Serv. 1,921,508 2,152,664 2,202,982 2,554,239 2,707,359 3,231,249 4,159,797 3,776,708 4,049,304 3,542,358
Health & Welfare 137,245 0 0 0 0 0 0 0 0 0
Interdepartmental Rev. 7,080,612 7,059,541 8,183,338 7,943,694 9,463,555 8,949,155 9,417,682 10,026,313 10,091,460 10,548,757
Unclassified 360,612 112,042 1,530,555 162,816 112,724 296,642 110,000 137,898 107,660 507,414
44,333,493$ 46,014,669$ 50,835,136$ 51,449,449$ 53,648,326$ 55,392,961$ 57,173,130$ 58,785,202$ 60,376,269$ 61,626,053$
SUMMARY-SHARED TAXES-
STATE & FEDERAL AIDS
Shared State Aids 11,079,810$ 11,583,146$ 11,890,769$ 12,010,518$ 12,125,047$ 11,065,483$ 11,076,027$ 11,075,468$ 11,073,727$ 10,969,615$
Highway Aids 2,487,355 2,635,967 2,632,214 2,571,554 2,682,437 2,707,989 2,740,615 2,767,382 2,843,112 3,010,732
Housing Authority 0 0 0 0 0 0 0 429,127 0 0
Muni. Serv.-State Prop. 1,147,192 1,200,000 1,442,959 1,170,423 1,225,185 1,222,605 1,277,417 1,333,774 1,322,063 1,356,188
County Ambulance Aid 55,003 58,703 58,152 62,484 65,972 141,930 146,188 159,884 174,934 169,389
Parks/Forestry Aids 0 0 0 874 1,883 3,871 0 0 5,398 0
Tax Disparity Aids 640,146 751,820 726,992 807,903 980,694 985,860 977,077 1,067,259 1,088,157 1,212,311
Cable TV 0 0 1,550 7,035 7,036 5,557 9,332 7,914 6,332 8,654
State Computer Credit 0 184,785 209,115 230,437 204,965 187,440 190,635 210,086 199,152 179,659
Protective Services/Aids 176,775 75,584 1,167 689 152,877 159,785 169,560 225,937 246,571 348,216
15,586,281$ 16,490,005$ 16,962,918$ 16,861,917$ 17,446,096$ 16,480,520$ 16,586,851$ 17,276,831$ 16,959,446$ 17,254,764$
Source: City of Oshkosh Finance Department
Exhibit A-21 CITY OF OSHKOSH, WISCONSIN
TAX ROLL COLLECTIONS
COLLECTIONS IN 2008 OF 2007 TAX ROLL
COLLECTION APPLIED REAL ESTATE
CITY OF OSHKOSH SETTLED WITH RETAINED BY TURNED OVER
LEVY OTHER UNITS CITY TO THE COUNTY
GENERAL PROPERTY TAXES 97.36 %
State Taxes $ 631,783.70 $ 615,122.42
County Taxes 18,903,074.90 18,404,566.48
$ 19,534,858.60 $ 515,169.70
Schools:
Board of Education $ 25,684,474.51 25,007,128.26
Vocational School 5,799,204.70 31,483,679.21 5,646,269.14 830,281.81
Debt Service:
City Debt $ 16,277,535.00 16,277,535.00
Legislative Trust Funds:
Police Pension $ 0.00
Firemen's Pension 0.00
Workmen's Comp. 32,723.00 32,723.00
Other Funds:
Library 2,466,445.00
Museum 823,338.00
Transit 599,508.00
Recycling 1,037,951.00
Street Lighting 1,194,771.00
Grand Opera House 66,557.00
Cemetery 202,205.00
Committee on Aging 372,477.00
Health Services 392,821.00
Golf Course 0.00
Pollock Community Water Park 20,303.00
Equipment 0.00 7,176,376.00
TID 5,526,197.36 5,380,461.50$ 145,735.86
General City 3,119,037.00 25,904,031.13 701,639.87
Special District 33,602.66 32,716.50 886.16
Overrun (4,581.59)(4,460.77) (120.82)
83,179,427.24$ 49,673,086.30$ 31,312,748.36$ 2,193,592.58$
Special Assessments
2,940,259.44 2,641,870.01 298,389.43
86,119,686.68$ 49,673,086.30$ 33,954,618.37$ 2,491,982.01$
Source: City of Oshkosh Finance Department
Exhibit A-22
CITY OF OSHKOSH, WISCONSIN
RATIO OF DEBT TO ASSESSED VALUATION AND POPULATION
1995-2008
DEBT
RATIO OF DEBT TO PER
ASSESSED VALUATION CAPITA
1995
Valuation - $1,882,114,900
Population - 59,068
1995 Direct Municipal Debt $ 65,308,825 3.47% $ 1,105.65
1996
Valuation - $1,937,658,900
Population - 60,240
1996 Direct Municipal Debt $ 68,571,473 3.54% $ 1,138.30
1997
Valuation - $1,987,591,500
Population - 61,824
1997 Direct Municipal Debt $ 68,577,442 3.45% $ 1,109.24
1998
Valuation - $2,046,447,600
Population - 62,185
1998 Direct Municipal Debt $ 69,932,059 3.42% $ 1,124.58
1999
Valuation - $2,072,830,600
Population - 62,695
1999 Direct Municipal Debt $ 72,463,863 3.50% $ 1,155.82
2000
Valuation - $2,140,360,100
Population - 63,192
2000 Direct Municipal Debt $ 79,645,557 3.72% $ 1,260.37
2001
Valuation - $2,203,128,900
Population - 63,225
2001 Direct Municipal Debt $ 86,605,140 3.93% $ 1,369.79
2002
Valuation - $2,266,847,900
Population - 64,132
2002 Direct Municipal Debt $ 101,116,094 4.46% $ 1,576.69
Exhibit A-22
CITY OF OSHKOSH, WISCONSIN
RATIO OF DEBT TO ASSESSED VALUATION AND POPULATION
1995-2008
DEBT
RATIO OF DEBT TO PER
ASSESSED VALUATION CAPITA
2003
Valuation - $2,924,336,700
Population - 64,327
2003 Direct Municipal Debt $ 112,645,337 3.85% $ 1,751.14
2004
Valuation - $3,141,524,900
Population - 65,095
2004 Direct Municipal Debt $ 113,006,301 3.60% $ 1,736.02
2005
Valuation - $3,335,517,300
Population - 65,445
2005 Direct Municipal Debt $ 115,334,666 3.46% $ 1,762.31
2006
Valuation - $3,558,114,300
Population - 65,510
2006 Direct Municipal Debt $ 118,945,768 3.34% $ 1,815.69
2007
Valuation - $3,722,810,200
Population - 65,810
2007 Direct Municipal Debt $ 119,580,048 3.21% $ 1,817.05
2008
Valuation - $3,849,076,000
Population - 65,920
2008 Direct Municipal Debt $ 119,684,801 3.11% $ 1,815.61
Source: City of Oshkosh Finance Department
Exhibit A-23
CITY OF OSHKOSH, WISCONSIN
COMPUTATION OF LEGAL DEBT MARGIN
AND
COMPUTATION OF OVERLAPPING DEBT
See Exhibit A-11 (1 of 2) for
these computations
Exhibit A-24
CITY OF OSHKOSH, WISCONSIN
RATIO OF ANNUAL DEBT SERVICE
FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENTAL EXPENDITURES
1999 - 2008
GENERAL
ANNUAL DEBT GOVERNMENTAL %
YEAR SERVICE EXPENDITURES RATIO
1999 8,929,755 42,675,721 20.92
2000 9,163,772 44,163,129 20.75
2001 10,930,144 49,428,628 22.11
2002 12,008,866 50,150,122 23.95
2003 13,685,051 52,554,291 26.04
2004 14,836,550 55,933,034 26.53
2005 15,394,793 57,244,818 26.89
2006 15,824,907 57,591,332 27.48
2007 16,330,462 58,138,612 28.09
2008 16,490,425 60,403,117 27.30
Source: City of Oshkosh Finance Department (Exhibit A-19)
Exhibit A-25CITY OF OSHKOSH, WISCONSIN
ECONOMICS
Oshkosh's population growth has been steady. U.S. Census Bureau figures of population are as follows:
POPULATION - CITY OF OSHKOSH
1995 Estimate 59,068
1996 Estimate 60,240
1997 Estimate 61,824
1998 Estimate 62,185
1999 Estimate 62,695
2000 Estimate 63,192
2001 Estimate 63,225
2002 Estimate 64,132
2003 Estimate 64,327
2004 Estimate 65,095
2005 Estimate 65,445
2006 Estimate 65,510
2007 Estimate 65,810
2008 Estimate 65,920
Source U S Census Bureau
This growth is further reflected below by building permit statistics and utility connections.
BUILDING PERMITS
New Residential Total of All Permits
Year No. Value No. Value
1995 189 14,343,940 1,932 66,782,553
1996 319 25,269,402 1,836 66,522,056
1997 195 18,188,520 2,104 59,462,427
1998 182 19,658,460 2,537 84,198,862
1999 190 23,472,737 6,761 110,724,162
2000 132 18,001,065 8,418 98,804,851
2001 156 26,565,183 8,335 92,278,720
2002 198 32,254,156 7,203 162,568,019
2003 202 36,568,505 6,631 108,739,312
2004 152 26,630,612 6,198 94,001,548
2005 87 13,660,642 5,477 74,563,467
2006 77 17,872,562 5,237 98,876,033
2007 69 21,982,261 5,217 121,914,846
2008 43 9,846,277 6,193 95,870,311
Source: City of Oshkosh Inspections Department
UTILITY CUSTOMERS AT YEAR END - CITY OF OSHKOSH
2000 2001 2002 2003 2004 2005 2006 2007 2008
Water 21,621 22,168 19,246 22,351 22,500 23,200 23,200 23,298 23,283
Telephone 48,305
Electric 38,546 38,916 39,648 40,595 41,736 44,531 41,659 42,492 42,910
Gas 29,051 29,424 30,075 30,779 31,168 31,611 31,494 32,123 32,441
Source: City of Oshkosh Water Distribution
Source: Wisconsin Public Service Corporation
Exhibit A-26
City of Oshkosh, Wisconsin
NEW DWELLING UNITS CONSTRUCTED
1992-2008
YEAR TOTAL UNITS SINGLE FAMILY TWO FAMILY MULTIPLE FAMILY
1992 338 138 10 180
1993 500 174 6 320
1994 417 165 19 214
1995 263 144 32 87
1996 532 202 42 288
1997 394 119 22 253
1998 384 144 22 218
1999 383 157 20 206
2000 275 109 20 146
2001 442 121 10 311
2002 364 157 44 163
2003 529 153 36 340
2004 303 112 20 171
2005 134 63 30 41
2006 234 51 12 171
2007 130 58 0 72
2008 59 47 4 8
5,681 2,114 349 3,189
Source: City of Oshkosh Department of Community Development
Exhibit A-27
CITY OF OSHKOSH, WISCONSIN
PAYROLL -PAYROLL -CONTRAC-MATERIALS
DIRECT INDIRECT TUAL UTILITIES FIXED AND CAPITAL TOTAL
LABOR LABOR SERVICES CHARGES SUPPLIES OUTLAY BUDGET
GENERAL GOVENRNMENT
City Council 25,100 1,921 18,500 0 0 1,100 0 46,621
City Manager 175,486 60,041 12,700 0 0 1,350 0 249,577
City Attorney 228,337 93,578 57,245 0 0 6,430 0 385,590
Personnel 300,495 95,469 171,060 0 0 4,703 0 571,727
City Clerk 145,373 52,352 15,695 0 20 3,000 9,000 225,440
Elections 45,369 451 9,220 1,100 3,000 0 0 59,140
Finance 687,700 321,115 4,015 0 0 4,425 0 1,017,255
Assessor 335,988 151,090 35,045 0 0 4,425 0 526,548
Purchasing 146,045 83,084 4,350 0 0 1,600 0 235,079
Central Services 30,047 12,664 98,500 0 0 16,200 0 157,411
Information Technology Division 390,344 196,368 249,405 55,500 0 26,453 122,327 1,040,397
Insurance 0 0 0 0 623,207 0 0 623,207
Facilities Maintenance 176,713 95,782 54,550 227,629 100 33,600 0 588,374
Independant Audit 0 0 22,725 0 0 0 0 22,725
Media Services 141,603 63,982 2,100 500 0 2,140 0 210,325
TOTAL GENERAL GOVERNMENT 2,828,600 1,227,897 755,110 284,729 626,327 105,426 131,327 5,959,416
PUBLIC SAFETY
Police 7,288,646 3,356,129 163,987 41,370 515 163,424 110,568 11,124,639
Animal Care 0 0 74,201 194 0 0 0 74,395
Fire & Ambulance 7,103,517 2,896,485 109,465 127,500 0 239,983 18,600 10,495,550
Hydrant Rental 0 0 650,000 0 0 0 0 650,000
Auxiliary Police 0 0 975 0 0 300 5,270 6,545
Crossing Guards 88,632 6,780 0 0 0 1,200 0 96,612
Police & Fire Commission 0 0 31,000 0 0 200 0 31,200
TOTAL PUBLIC SAFETY 14,480,795 6,259,394 1,029,628 169,064 515 405,107 134,438 22,478,941
PUBLIC WORKS
Public Works - Admin.243,971 98,860 3,900 0 0 1,175 0 347,906
Engineering 721,937 286,187 16,550 5,100 100 13,950 1,200 1,045,024
Streets - General 1,419,891 795,175 44,750 3,000 750 367,850 15,000 2,646,416
Central Garage 400,213 233,938 146,000 125,634 1,110 1,241,975 0 2,148,870
Garbage Coll. & Disposal 504,682 300,057 499,550 0 1,200 82,315 0 1,387,804
TOTAL PUBLIC WORKS 3,290,694 1,714,217 710,750 133,734 3,160 1,707,265 16,200 7,576,020
PARKS & OTHER FACILITIES
Parks 830,273 350,980 30,475 161,000 300 81,700 3,000 1,457,728
Forestry 188,107 57,290 12,600 200 200 12,250 3,000 273,647
TOTAL PARKS & OTHER FAC.1,018,380 408,270 43,075 161,200 500 93,950 6,000 1,731,375
2009 OPERATING BUDGET BY FUNCTION
Exhibit A-27
PAYROLL -PAYROLL -CONTRAC-MATERIALS
DIRECT INDIRECT TUAL UTILITIES FIXED AND CAPITAL TOTAL
LABOR LABOR SERVICES CHARGES SUPPLIES OUTLAY BUDGET
COMMUNITY DEVELOPMENT
Planning Services 599,061 235,958 9,855 148 30 5,582 0 850,634
Inspection Services 574,329 250,018 22,975 2,000 420 11,635 0 861,377
TOTAL COMMUNITY DEV.1,173,390 485,976 32,830 2,148 450 17,217 0 1,712,011
DEPT. OF TRANSPORTATION
Electric 270,329 120,312 21,400 34,030 0 40,770 0 486,841
Sign 107,964 47,418 4,000 4,380 0 36,860 0 200,622
TOTAL DEPT. OF TRANS.378,293 167,730 25,400 38,410 0 77,630 0 687,463
UNCLASSIFIED
Unemployment Compensation 18,900 18,900
Direct Deposit Fees 1,800 1,800
Uncollectible Accounts 180,000 180,000
Employee Benefit Fees 12,000 12,000
Patriotic Celebration 8,000 8,000
Adjustment of Salaries 0 0
Unclassified Expenses 125,000 125,000
Mobile Trailer Tax 37,000 37,000
Industrial Development 37,500 37,500
TOTAL UNCLASSIFIED 0 18,900 364,300 0 37,000 0 0 420,200
TOTAL BUDGET 23,170,152 10,282,384 2,961,093 789,285 667,952 2,406,595 287,965 40,565,426
Budget for Recycling 349,183 194,577 750,200 0 100 10,150 430,000 1,734,210
Budget for Street Lighting 0 0 9,000 1,226,778 0 12,000 0 1,247,778
Budget for Senior Services 303,824 135,317 18,709 56,784 7,071 14,498 0 536,203
Budget for Transit Utility 1,300,405 862,204 1,882,395 37,950 122,560 643,430 0 4,848,944
Budget for Library 1,765,110 730,118 460,203 160,905 12,987 423,694 0 3,553,017
Budget for Museum 515,047 241,352 50,920 94,325 9,693 45,900 8,000 965,237
Budget for Grand Opera House 0 0 59,646 0 6,976 0 0 66,622
Budget for Cemetery 242,547 96,264 12,550 24,575 7,598 11,020 4,500 399,054
Budget for Health Services 595,736 293,710 38,670 3,650 7,760 28,900 0 968,426
Budget for Leach Amphitheater 12,000 918 13,068 14,715 500 4,799 0 46,000
Budget for Pollock Comm Wtr Park 40,000 3,060 143,055 69,500 7,001 46,450 1,000 310,066
Budget for Equipment Fund 0 0 0 0 0 0 0 0
TOTAL OPERATING BUDGET 28,294,004 12,839,904 6,399,509 2,478,467 850,198 3,647,436 731,465 55,240,983
Exhibit A-28
CITY OF OSHKOSH, WISCONSIN
BUDGET FOR 2009 - REVENUES
2006 2007 2008 2008 2009
ACTUAL ACTUAL BUDGETED ESTIMATED PROPOSED
REVENUES REVENUES REVENUES REVENUES BUDGET
TAXES LEVIED BY CITY
General Property Tax 24,322,868 25,597,997 26,605,671 26,605,671 27,885,268
Municipal Owned Utility 650,000 650,000 650,000 650,000 1,000,000
Snow Removal 9,952 10,831 9,000 20,000 10,000
Sealcoating 67,962 0 0 0 0
Weed Cutting 13,397 22,190 12,000 10,000 17,000
Mobile Home Tax 111,439 109,626 108,000 109,000 109,000
Payment in Lieu of Taxes 135,096 128,181 118,000 106,600 105,000
TIF District Closeout 0 0 3,000 0 0
TOTAL TAXES LEVIED 25,310,714 26,518,825 27,505,671 27,501,271 29,126,268
LICENSES & PERMITS
Heating 89,021 105,772 90,000 105,000 90,000
Liquor License 123,172 131,159 125,000 125,000 125,000
Cigarette License 10,800 11,160 11,000 11,000 11,000
Sundry License 37,223 37,928 37,000 38,000 38,000
Electric Permits 101,777 113,069 100,000 113,000 100,000
Building Permits 346,281 397,601 360,000 300,000 300,000
Plumbing Permits 103,039 104,047 90,000 95,000 90,000
Flammable Tank Fees 160 1,055 700 700 1,000
Housing Fees 3,105 3,660 3,200 3,200 3,200
Code Seals & Plan. Fees 1,898 1,735 1,800 1,000 1,000
Engineering Permits 0 0 25,000 0 0
Zoning Ordinances 45,350 55,809 45,000 50,000 50,000
TOTAL LICENSES & PERMITS 861,826 962,995 888,700 841,900 809,200
FINES & COSTS
County Court 287,182 295,590 310,000 281,500 281,500
Police Dept.497,194 437,659 420,000 405,000 405,000
Penalties 80,992 118,434 90,000 90,000 90,000
TOTAL FINES & COSTS 865,368 851,683 820,000 776,500 776,500
STATE & COUNTY AIDS
Town Aid - Cable TV 7,914 6,332 8,400 8,600 8,600
Town Ambulance Aid 159,884 174,934 160,362 169,400 71,340
Aid to Local Streets 2,767,382 2,843,112 3,007,999 3,006,100 3,035,000
Municipal Services 1,333,774 1,322,063 1,275,000 1,356,200 1,245,000
State Shared Aids 11,075,468 11,073,726 11,079,165 11,086,172 11,085,237
State/Fedl Emer Asst 0 0 0 200,000 0
State Aids-Parks/Forestry 0 5,398 0 0 0
State Aids - Fire 33,000 40,000 45,000 45,000 58,000
Aids-Police 192,937 206,572 165,000 195,000 195,000
State Computer Credit 210,086 199,152 200,000 179,659 180,000
Expenditure Restraint 1,067,259 1,088,157 1,212,832 1,212,311 1,212,185
TOTAL STATE & CO. AIDS 16,847,704 16,959,446 17,153,758 17,458,442 17,090,362
USE OF MONEY & PROPERTY
Interest on Investments 945,573 1,170,963 950,000 1,100,000 900,000
Interest on Spec. Assess.214,436 223,292 220,000 210,000 210,000
Rent 4,983 2,041 2,000 2,084 75
Sale of Land 0 0 0 0 0
TOTAL USE OF MONEY & PROP.1,164,992 1,396,296 1,172,000 1,312,084 1,110,075
Exhibit A-28
2006 2007 2008 2008 2009
ACTUAL ACTUAL BUDGETED ESTIMATED PROPOSED
REVENUES REVENUES REVENUES REVENUES BUDGET
CHARGES FOR CURRENT SERVICES
Police Dept. Fees 191,796 143,268 100,000 140,000 103,000
Fire Dept. Fees 79,771 140,571 94,000 120,000 101,000
Ambulance Fees 1,830,404 1,859,907 1,900,000 1,903,900 2,119,100
Engineering Fees 177,836 15,694 50,000 60,000 60,000
Street Services 135,099 59,178 75,000 75,000 75,000
Electrical Dept.30,576 45,125 25,000 65,000 25,000
Sign Dept.2,476 1,729 1,500 10,000 1,500
Park Fees 48,837 79,363 40,000 15,000 15,000
Forestry Fees 900 5,398 0 0 0
City Clerk Fees 7,124 6,239 6,500 6,500 6,500
Community Dev.345,289 353,188 403,000 403,000 403,000
Cable Access Fees 8,978 10,180 13,000 13,000 15,000
CATV Revenue 636,471 658,070 658,000 658,000 650,000
Xerox Charges 2,370 2,338 2,300 1,100 1,100
Property Search 32,240 28,710 30,000 23,000 25,000
Hazardous Materials 0 0 1,500 500 500
Sanitation Recycling 399,081 (77)0 0 0
Garbage Fees 24,736 88,958 21,000 25,000 21,000
TOTAL CHGS. FOR CUR. SERV.3,953,984 3,497,839 3,420,800 3,519,000 3,621,700
INTERDEPARTMENTAL REVENUES
Service Charge-Streets 238,786 202,961 250,870 300,000 400,000
Serv.& Main.-San Sewer 177,595 170,159 186,580 186,580 192,200
Acct. Services-Utilities 627,613 589,092 659,380 630,000 660,000
Equipment/Labor Rental - Recycling 633,770 536,981 680,000 670,000 680,000
Computer Services - Utilities 123,600 127,300 130,800 130,800 152,500
Public Works-Water Util.107,342 120,900 112,800 115,740 119,200
Water G.O. Bond Abatement 1,607,238 1,755,997 1,747,360 1,747,360 1,738,703
Sewer G.O. Bond Abatement 1,986,763 2,001,996 2,145,401 2,145,399 1,977,115
Storm G.O. Bond Abatement 327,014 428,905 436,707 436,706 438,729
Parking Utility Notes 58,168 60,381 65,052 65,052 63,086
Ind. Dev. Bonds & Notes 369,422 285,223 284,970 284,969 330,991
TIF Districts 3,213,697 3,742,845 3,786,677 3,786,668 3,687,906
Deltox Notes 89,930 0 0 0 0
Golf Course 125,325 122,237 124,150 124,150 480,191
Cable TV 66,755 67,383 67,796 74,390 73,736
Housing Authority 429,127 0 0 0 0
Engineering Fees-Const.720,059 789,992 600,000 600,000 600,000
TOTAL INTER. DEP. REV.10,902,204 11,002,352 11,278,543 11,297,814 11,594,357
UNCLASSIFIED
Sundry Revenue 109,607 77,660 75,000 143,000 95,000
Bond Proceeds 30,054 30,000 30,000 30,000 30,000
Approp. from Sinking Fund 255,000 200,000 375,000 375,000 375,000
TOTAL UNCLASSIFIED 394,661 307,660 480,000 548,000 500,000
TOTAL REVENUES 60,301,453 61,497,096 62,719,472 63,255,011 64,628,462
CITY OF OSHKOSH EXHIBIT A-29
(1 OF 4)
PER $1,000 2008 2007 INCREASE
OF TAXES TAX RATE TAX RATE (DECREASE)
State 0.756 % $ 0.179 $ 0.180 $ (0.001)
County 24.192 5.727 5.670 0.057
Area Schools 32.826 7.771 7.710 0.061
Area Vocational 7.477 1.770 1.740 0.030
City Tax 34.749 8.226 7.980 0.246
100.000 $ 23.673 $ 23.280 $ 0.393
State Credit 1.295 1.200 0.095
$22.378 $22.080 $0.298
2009 LEVY - 2008 TAX RATE
Area Vocational
7.48%
Area Schools
32.83%
County
24.19%
State
0.76%
City Tax
34.75%
CITY OF OSHKOSH - REVENUES EXHIBIT A-29
(2 OF 4)
2009 2008 INCREASE
WHERE THE MONEY COMES FROM AMOUNT PER CENT PER CENT (DECREASE)
Shared State Aids $ 11,085,237 17.2 % 17.7 % (0.5) %
Property Tax Levy 27,885,268 43.1 42.4 0.7
Interest on Investments 900,000 1.4 1.5 (0.1)
Interdepartmental Charges 11,594,357 17.9 17.9 0.0
Licenses, Permits, Fines 1,585,700 2.5 2.7 (0.2)
Other State and County Aids 6,005,125 9.3 9.7 (0.4)
All Other Revenue 1,951,075 3.0 2.6 0.4
Service Charges 3,621,700 5.6 5.5 0.1
$64,628,462 100.0 %100.0 %
SOURCE OF FUNDS
Shared State Aids
18.2%
Property Tax Levy
45.7%
Interest on Investments
1.5%
Interdepartmental
Charges
19.0%
All Other Revenue
3.2%
Other State and County
Aids
9.9%
Licenses, Permits, Fines
2.6%
CITY OF OSHKOSH - EXPENDITURES EXHIBIT A-29
(3 OF 4)
2009 2008 INCREASE
WHERE THE MONEY GOES AMOUNT PER CENT PER CENT (DECREASE)
Agency Funds $ 33,783 0.0 % 0.0 % 0.0 %
Debt Services 16,924,086 26.2 26.0 0.2
Miscellaneous 420,200 0.7 0.7 0.0
Fire and Ambulance 11,161,150 17.3 17.3 0.0
Museum 822,237 1.3 1.3 0.0
Police 11,317,791 17.5 18.1 (0.6)
Health 374,426 0.6 0.6 0.0
Transportation 2,547,924 3.9 3.9 0.0
Parks & Community Facilities 2,048,084 3.2 3.2 0.0
General Government 5,959,416 9.2 9.2 0.0
Community Development 2,084,488 3.2 3.3 (0.1)
Public Works 8,513,971 13.2 12.5 0.7
Equipment Fund 0 0.0 0.0 0.0
Library 2,420,906 3.7 3.9 (0.2)
$64,628,462 100.0 %100.0 %
USE OF FUNDS
Miscellaneous
0.7%
Fire and Ambulance
17.3%Museum
1.3%
Police
17.5%Health
0.6%
Transportation
4.0%
Parks & Community
Facilities
3.2%
General Government
9.2%
Community
Development
3.2%
Equipment Fund
0.0%
Public Works
13.2%
Library
3.7%Agency Funds
0.0%
Debt Services
26.2%
CITY OF OSHKOSH EXHIBIT A-29
(4 OF 4)
AMOUNT PER CENT
Payroll - Direct Labor $ 28,294,004 39.19 %
Agency Funds 33,783 0.05
Payroll - Indirect Labor 12,839,904 17.79
Fixed Charges 850,198 1.18
Debt Retirement 16,924,086 23.44
Contractual Services 6,399,509 8.86
Utilities 2,478,467 3.43
Materials & Supplies 3,647,436 5.05
Capital Outlay 731,465 1.01
$72,198,852 100.00 %
2009 BUDGET - HOW THE FUNDS ARE EXPENDED
Utilities
3.43%
Materials & Supplies
5.05%
Contractual Services
8.86%Payroll - Direct Labor
39.19%
Capital Outlay
1.01%
Debt Retirement
23.44%
Fixed Charges
1.18%Payroll - Indirect
Labor
17.79%
Agency Funds
0.05%