HomeMy WebLinkAbout2010CAFRCity of Oshkosh
ANNUAL FINANCIAL REPORT
Including Auditor’s Report
For the fiscal year ending December 31, 2010
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
Notes to Basic Financial Statements 33 - 62
CITY OF OSHKOSH
OSHKOSH, WISCONSIN
December 31, 2010
Table of Contents
CITY OF OSHKOSH
OSHKOSH, WISCONSIN
December 31, 2010
Table of Contents
Page No.
Required Supplemental Information
Schedule of other Post Employment Benefit Information 63
Other Supplemental Information
Combining Balance Sheet - Non-major Governmental Funds 64
Combining Statement of Revenues and Expenditures and Changes
in Fund Balances - Non-major Governmental Funds 65
Combining Statement of Net Assets-Nonmajor Other Proprietary Funds 66
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets -
Nonmajor Other Proprietary Funds 67
Combining Statement of Cash Flows-Nonmajor Other Proprietary Funds 68
Combining Statement of Net Assets - Internal Service Funds 69
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets
Internal Service Funds 70
Combining Statement of Cash Flows - Internal Service Funds 71
Combining Balance Sheet - Nonmajor Special Revenue Funds 72
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Special Revenue Funds 73
Combining Balance Sheet - Nonmajor Capital Project Funds 74
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Capital Projects Funds 75
CITY OF OSHKOSH
OSHKOSH, WISCONSIN
December 31, 2010
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 76 -82
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 83 - 87
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 88 - 111
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-26 112 - 127
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-29 128 - 135
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.
I N T R O D U C T O R Y S E C T I O N
June 30, 2011
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, 2010, 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.
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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, 2010.
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 2009 were as follows:
RATIO OF DEBT TO DEBT
AMOUNT EQUALIZED VALUE PER CAPITA
Direct Bonded Debt $131,952,877 3.49% $1,996.87
Outstanding general obligation bonds at December 31, 2010 totaled $131,952,877 of
which $232,555 were issued for Parking Utility, $17,347,873 for Sewer Utility, $9,370,504 for
Water Utility, $3,408,136 for Industrial Park Fund, $222,012 for Transit System, $27,527,732
for Tax Incremental Finance District, $33,868 for the Golf Course, $1,881,459 for Oshkosh
Center, and $10,998,422 for Storm Water Utility.
On August 10, 2010, $9,140,000 of Corporate Purpose Bonds, and $4,150,000 of
Promissory Notes, were sold at a net true interest rate of 2.885%, and 1.983% respectively.
Also on August 10, 2010, $12,620,000 of General Obligation Refunding Bonds, and $8,420,000
Taxable General Obligation Bonds, were sold at a net true interest rate of 2.180%, and 3.043%
respectively.
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Assessed valuation of $3,708,134,000 represented a decrease of 0.11% from the
preceding year.
The City’s bonds have an Aa2 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 express my
appreciation to all members of the Department who assisted and contributed to its preparation. I
also 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
Burk Tower, Mayor
Steven Herman, Deputy Mayor
Steve Cummings
Robert Poeschl
Debra Allison-Aasby
Thomas R. Pech Jr.
Jef Hall
PRINCIPAL OFFICERS
Mark A. Rohloff, City Manager
Peggy A. Steeno, Director of Finance
Lynn Schuhart , Assistant Director of Finance
ORGANIZATION CHART
City Council
&
Mayor
City
Manager
Director of
Finance
Assistant Director
of Finance
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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 66,080.
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
Burk Tower Mayor 2013
Steven Herman Deputy Mayor 2012
Steve Cummings Council Member 2012
Robert Poeschl Council Member 2013
Debra Allison-Aasby Council Member 2013
Thomas R. Pech, Jr. Council Member 2013
Jef Hall Council Member 2012
CITY ADMINISTRATION
Mayor Burk Tower was first elected to the City Council in April, 2004. He was elected as Mayor
of the City of Oshkosh in April, 2011. He is currently a member of the Redevelopment authority, and a
former member of the Grand Opera House Advisory Board, the Long Range Finance Committee, the
Convention & Visitors Bureau Board, the Oshkosh Housing authority, and the Board of Health. Mr. Tower
is also a Board Member of the Nicolet Waterways Association and the Wisconsin Family Business Forum,
as well as serving on a number of committees for the Oshkosh Area United Way. He is past President of
the Board of Oshkosh Family, Inc. and the Jacob Shapiro PTA. He has been involved with both the Junior
Achievement Program and the Oshkosh Area School District Mentor Programs. Mr. Tower is a recipient
of the Oshkosh Area United Way “Life Service” Award and was named a 2004 “Wisconsin Idea Fellow”
by the University of Wisconsin System for his community involvement over the years.
Mr. Tower is a retired Professor of Management and Entrepreneurship in the College of Business at the
University of Wisconsin-Oshkosh where he was the recipient of the University’s Distinguished Teaching
Award.
Mr. Tower received an undergraduate degree in business from the University of Cincinnati and his Masters
and Doctoral degrees in business from Indiana University.
Mr. Tower has been a resident of Oshkosh since 1977. He and his wife Chris live at 933 Starboard Court.
They have four grown children and five grandchildren.
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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. Schuhart, 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. Schuhart 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. Schuhart 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 18 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.
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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 472,000 miles annually and provide mobility for 1,027,500 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 nineteen off-street parking lots, containing
1,387 parking stalls. Spaces are leased on a monthly basis in ten of the City lots consisting of 230 stalls. In
1987, a Business Improvement District was formed in the downtown area. The BID assists in financing
one of the downtown lots. A five-member commission provides recommendations for the activities of the
utility.
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 sixteen 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 6.388 mgd in 2010. The
Water Distribution Division is in charge of daily and emergency maintenance of all water mains, hydrants,
services, and meters.
The Sewer Utility is a dry weather flow treatment plant that consists of a system which is designed
to process 20,000,000 gallons per day. The average daily flow for 2010 was 12.519 mgd.
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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 614 full and part-time employees, of which 14 are officials
or administrators, 41 are supervisors/managers, 198 are involved in protective services, 43 are
professionals, 48 are paraprofessionals, 145 are public works, and 125 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 2011. 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 $4,730,122.67 for the year ended December 31, 2010, 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, 2010 was
$94,349.04.
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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 2010, 73.51% 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, four charter schools, five middle schools and fourteen
elementary schools.
The District has approximately 1,352 employees, both certified and non-certified.
The current enrollment has decreased by approximately 4.18% since the 2001-2010
school terms. The enrollment for the Unified School District for the past ten years is as follows:
Year Enrollment
2010/11 10,213
2009/10 10,331
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
In addition to Unified School District operated schools, there are ten private and
parochial schools (kindergarten through grade 12). There are approximately 1,288 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
831 full-time equivalent students. The actual head count of students served is 5,347.
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F I N A N C I A L S E C T I O N
INDEPENDENT AUDITOR’S REPORT
Schenck
CPA-i AND SO MUCH MORE.
INDEPENDENT AUDITORS1 REPORT
To the Mayor and Common Council
City of Oshkosh
Wmnebago 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 of Oshkosh ("the City")as of and for the year ended December 31,
2010,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 it 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 consideration of internal control over financial reporting as a
basis for designing audit procedures that are appropriate in the circumstances,but not for the purpose of
expressing an opinion on the effectiveness of the City's internal control over financial reporting.
Accordingly,we express no such opinion.An audit includes examining,on a test basis,evidence
supporting the amounts and disclosures in the financial statements.An audit also includes assessing the
accounting 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 31,2010,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 A.4.J,the City has implemented GASB statement No.54,Fund Balance Reporting
and Governmental Fund Type Definitions,for the year ended December 31,2010.
Appleton -Fond du Lac ■Green Bay ■Manitowoc ■Milwaukee ■Oshkosh ■Sheboygan ■Stevens Point
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In accordance with Government Auditing Standards,we have also issued our report dated May 31,2011,
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 reporting or on compliance.That report is an integral part of an audit performed in
accordance with Government Auditing Standards and should be considered in assessing the results of
our audit.
Accounting principles generally accepted in the United States of America require that the management's
discussion and analysis and the required supplemental information,as listed in the table of contents,be
presented to supplement the basic financial statements.Such information,although not a part of the basic
financial statements,is required by the Governmental Accounting Standards Board,who considers it to
be an essential part of financial reporting for placing the basic financial statements in an appropriate
operational,economic,or historical context.We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America,which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management's responses to our inquiries,the basic
financial statements,and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's financial statements as a whole.The introductory section,other supplemental
information,and statistical section,as listed in the table of contents,are presented for purposes of
additional analysis and are not a required part of the financial statements.The other supplemental
information is the responsibility of management and was derived from and relates directly to the
underlying accounting and other records used to prepare the financial statements.The information has
been subjected to the auditing procedures applied in the audit of the financial statements and certain
additional procedures,including comparing and reconciling such information directly to the underlying
accounting and other records used to prepare the financial statements or to the financial statements
themselves,and other additional procedures in accordance with auditing standards generally accepted in
the United States of America.In our opinion,the information is fairly stated in all material respects in
relation to the financial statements as a whole.The introductory and statistical sections have not been
subjected to the auditing procedures applied in the audit of the basic financial statements and,
accordingly,we do not express an opinion or provide any assurance on them.
Certified Public Accountants
Fond du Lac,Wisconsin
May 31,2011
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MANAGEMENT’S DISCUSSION AND ANALYSIS
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, 2010. 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, 2010
and 2009 by $65,098,489 and $63,677,870 (net assets), respectively. Of this amount, ($7,027,497)
and ($6,498,573) (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 $1,420,619 and decreased by $2,293,127,
respectively. Several factors contributed to the overall changes.
• The property tax rate rose 2.1% and 3.1%, respectively, per $1,000 of property value for the years
ended December 31, 2010 and 2009, respectively.
• As of December 31, 2010 and 2009, the City’s governmental funds reported combined ending fund
balances of $25,543,995 and $18,867,819, an increase of $6,676,176 for 2010 and a decrease of
$2,054,621 for 2009. Approximately 44% and 35% of this total amount, $11,306,618 and $5,492,180
is available for spending at the City’s discretion (assigned and unassigned fund balance),
respectively.
• As of December 31, 2010 and 2009, unassigned fund balance for the general fund was $8,090,093
and $7,074,708, or approximately 20% and 18% of total general fund expenditures, respectively.
• The City’s total general-obligation debt increased by $2,295,624 (1.8%) during 2010. The key factor
in this increase was the issuance of $34,586,068 of general obligation debt and $32,290,444 of
principal payments of general obligation debt.
• The City’s total general-obligation debt increased by $9,972,448 (8.3%) during 2009. The key factor
in this increase was the issuance of $21,800,396 of general obligation debt and $11,827,948 of
principal payments of general obligation debt.
• The City’s prior year management discussion and analysis information has been restated to conform
to current year presentation.
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 required supplemental information and other supplemental 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.)
12
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 29 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.
13
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, sewer utility, and storm water 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 not 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 $211,346,941 and $200,199,355
at the close of 2010 and 2009, respectively.
Governmental Business-Type
Activities Activities Total
2010 2010 2010
Current and other assets 73,336,400$ 73,467,283$ 146,803,683$
Capital assets 111,630,525 232,889,047 344,519,572
Total assets 184,966,925 306,356,330 491,323,255
Long-term liabilities outstanding 69,684,740 136,870,365 206,555,105
Other liabilities 50,183,696 23,219,513 73,403,209
Total liabilities 119,868,436 160,089,878 279,958,314
Net assets:
Invested in capital assets, net of related debt 59,344,634 116,520,471 175,865,105
Restricted 12,781,352 - 12,781,352
Unrestricted (7,027,497) 29,745,981 22,718,484
Total net assets 65,098,489$ 146,266,452$ 211,364,941$
City of Oshkosh's Net Assets
14
Governmental Business-Type
Activities Activities Total
2009 2009 2009
Current and other assets 65,534,807$ 57,516,372$ 123,051,179$
Capital assets 109,382,831 215,891,129 325,273,960
Total assets 174,917,638 273,407,501 448,325,139
Long-term liabilities outstanding 63,688,422 114,611,468 178,299,890
Other liabilities 47,551,346 22,274,548 69,825,894
Total liabilities 111,239,768 136,886,016 248,125,784
Net assets:
Invested in capital assets, net of related debt 58,296,609 110,806,457 169,103,066
Restricted 11,879,634 - 11,879,634
Unrestricted (6,498,373) 25,715,028 19,216,655
Total net assets 63,677,870$ 136,521,485$ 200,199,355$
City of Oshkosh's Net Assets
By far the largest portion of the City’s net assets (83%) and (84%), 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 (6%) and (6%), respectively, represents resources that are
subject to external restrictions on how they may be used. The remaining balance of unrestricted net
assets ($22,718,484) and ($19,216,655), respectively, may be used to meet the City’s ongoing
obligations to citizens and creditors.
The special revenue funds net asset balances have been reclassified from unrestricted net assets to
restricted net assets to match the reporting in the governmental funds with the implementation of the
Government Accounting Standards Board (GASB) Statement No. 54 in 2010.
15
Change in net assets. Governmental activities increased the City’s net assets by $1,420,619 in 2010
and decreased by $2,293,127 in 2009. Business-type activities increased the City’s net assets by
$9,744,967 in 2010 and by $13,239,637 in 2009. Total net assets of the City increased in 2010 by
$11,165,586 and in 2009 by $10,946,510. Key elements of this change are as follows:
Governmental Business-Type
Activities Activities Total
2010 2010 2010
Revenues:
Program revenues:
Charges for services 15,267,887$ 25,826,399$ 41,094,286$
Operating grants and contributions 5,257,764 4,720,484 9,978,248
Capital grants and contributions - 3,030,390 3,030,390
General revenues
Property taxes 29,236,561 8,148,457 37,385,018
Grants and contributions not restricted to specific pr 13,454,777 - 13,454,777
Other 1,299,950 350,261 1,650,211
Total revenues 64,516,939 42,075,991 106,592,930
Expenses:
General government 6,391,836 - 6,391,836
Public safety 23,653,443 - 23,653,443
Public works 14,880,323 - 14,880,323
Health and welfare 1,017,262 - 1,017,262
Park and recreation 8,558,050 - 8,558,050
Transportation 685,570 - 685,570
Community development 4,903,810 - 4,903,810
Unclassified 551,791 - 551,791
Interest of long-term debt 2,217,235 - 2,217,235
Transit utility - 4,800,584 4,800,584
Water utility - 11,296,626 11,296,626
Sewer utility - 8,493,557 8,493,557
Storm water utility - 2,776,140 2,776,140
Other - 5,201,117 5,201,117
Total expenses 62,859,320 32,568,024 95,427,344
Transfers (237,000) 237,000 -
Total expenses and transfers 63,096,320 32,331,024 95,427,344
Change in net assets 1,420,619 9,744,967 11,165,586
Net assets - January 1, 2010 63,677,870 136,521,485 200,199,355
Net assets - December 31, 2010 65,098,489$ 146,266,452$ 211,364,941$
City of Oshkosh's Change in Net Assets
16
Governmental Business-Type
Activities Activities Total
2009 2009 2009
Revenues:
Program revenues:
Charges for services 13,277,573$ 26,178,081$ 39,455,654$
Operating grants and contributions 4,997,987 4,010,723 9,008,710
Capital grants and contributions - 4,555,380 4,555,380
General revenues
Property taxes 28,459,017 7,554,946 36,013,963
Grants and contributions not restricted to specific pr 13,809,528 - 13,809,528
Other 1,718,267 546,690 2,264,957
Total revenues 62,262,372 42,845,820 105,108,192
Expenses:
General government 6,285,171 - 6,285,171
Public safety 23,333,122 - 23,333,122
Public works 15,843,295 - 15,843,295
Health and welfare 1,065,069 - 1,065,069
Park and recreation 8,412,085 - 8,412,085
Transportation 661,953 - 661,953
Community development 5,516,499 - 5,516,499
Unclassified 388,794 - 388,794
Interest of long-term debt 2,319,986 - 2,319,986
Transit utility - 4,788,395 4,788,395
Water utility - 10,475,252 10,475,252
Sewer utility - 8,460,051 8,460,051
Storm water utility 2,365,735 2,365,735
Other - 4,246,275 4,246,275
Total expenses 63,825,974 30,335,708 94,161,682
Transfers (729,525) 729,525 -
Total expenses and transfers 64,555,499 29,606,183 94,161,682
Increase in net assets (2,293,127) 13,239,637 10,946,510
Net assets - January 1, 2009 65,970,997 123,281,848 189,252,845
Net assets - December 31, 2009 63,677,870$ 136,521,485$ 200,199,355$
City of Oshkosh's Change in Net Assets
• Property taxes increased by $1,371,055 (3.8%) in 2010 and $2,297,980 (6.8%) in 2009. 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, unassigned fund balance may serve as a useful measure of
the City’s net resources available for spending at the end of the fiscal year.
17
As of December 31, 2010 and 2009, the City’s governmental funds reported combined ending fund
balances of $25,543,995 and $18,867,819, an increase of $6,676,176 in 2010 and a decrease of
$2,054,621 in 2009. Approximately 50% and 64% or ($12,781,352 and $12,032,108) of this total is
restricted due to external limitations on its use. These include construction of capital assets for
$6,161,672 and $5,394,152, debt service costs of $802,645 and $1,146,983, special purposes of
$2,225,449 and $2,012,041 and trust agreements of $3,591,586 and $3,478,932. Fund balance of
$15,128 and $15,934 is considered nonspendable because it has been used for inventory and prepaid
items. Fund balances of approximately 26% and 10% ($6,586,024 and $1,860,058) has been committed
or assigned, meaning there are limitations resulting from its intended use. The committed use of
$1,440,897 and $1,327,597 is for special purposes. The assigned uses include advances ($0 and
$480,191), construction of assets ($4,378,911 and $0), and for subsequent years ($766,216 and
$52,270). The remaining balance of approximately 24% and 26% or ($6,161,491) and ($4,959,719)
constitutes unassigned fund balance, which is available for spending at the City’s discretion.
The general fund is the chief operating fund of the City. At the end of 2010 and 2009, unassigned fund
balance of the general fund was $8,090,093 and $7,074,708, respectively, while total fund balance
reached $8,871,437and $7,623,103, respectively. As a measure of the general fund’s liquidity, it may be
useful to compare both unassigned fund balance and total fund balance to total fund expenditures.
Unassigned fund balance represents 20% and 18% of total general fund expenditures, while total fund
balance represents 22% and 19% of that same amount, respectively.
The fund balance of the City’s general fund increased by $1,248,334 in 2010 and increased by $657,828
in 2009.
The debt service fund has a total fund balance of $802,645 and $1,146,983, respectively. Of this fund
balance, $802,645 and $1,146,983 is restricted for debt service costs, respectively. Restricted fund
balance represents 7% and 15%, respectively, of total debt service fund expenditures.
The fund balance of the debt service fund decreased by $344,338 in 2010 and decreased by $667,562 in
2009.
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 2010 and 2009 amounted to
$29,745,981 and $25,715,028, respectively. The total change in net assets was an increase of
$9,744,967 in 2010, and an increase of $13,239,637 in 2009.
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 2010 and 2009, actual revenues exceeded budgeted revenues by $420,628 and $511,791,
respectively, primarily in charges for services. Actual expenditures were less than budgeted expenditures
by $1,125,208 in 2010 and less than budgeted expenditures by $322,259 in 2009.
18
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, 2010 and 2009 amounted to $344,519,572 and $325,273,960 (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 $19,245,612 or 6% for 2010 and
increased by $19,167,004 or 6% for 2009.
Major capital asset acquired or constructed during the years ended 2010 and 2009 include:
• The governmental activities constructed streets in the amount of $5,046,796 and $5,013,147
purchased vehicles in the amount of $1,198,172 and $1,565,679 and building improvements and
contents in the amount of $3,836,816 and $3,047,499, respectively.
• The business activities purchased additional land and improvements to expand the TIF District in the
amount of $378,337and $2,480,670, and improvements to the water, sewer and storm sewer utilities
in the amount of $23,164,670 and $21,195,737, respectively.
Governmental Business-Type
Activities Activities Total
2010 2010 2010
Land 16,904,586$ 37,421,683$ 54,326,269$
Construction in progress - 38,299,334 38,299,334
Buildings and systems 31,597,944 144,618,978 176,216,922
Machinery and equipment 21,773,560 12,549,052 34,322,612
Infrastructure 41,354,435 - 41,354,435
Total 111,630,525$ 232,889,047$ 344,519,572$
City of Oshkosh's Capital Assets
Governmental Business-Type
Activities Activities Total
2009 2009 2009
Land 16,364,800$ 37,113,795$ 53,478,595$
Construction in progress - 25,420,698 25,420,698
Buildings and systems 31,193,509 141,881,153 173,074,662
Machinery and equipment 21,074,686 11,475,483 32,550,169
Infrastructure 40,749,836 - 40,749,836
Total 109,382,831$ 215,891,129$ 325,273,960$
City of Oshkosh's Capital Assets
19
Long-term debt. At the end of 2010 and 2009, the City had total bonded debt outstanding of
$209,829,929 and $180,930,401, respectively. Of this amount, $131,952,877 and $129,657,253,
respectively, comprises debt backed by the full faith and credit of the government. The remainder of the
City’s debt represents bonds secured solely by specified revenue sources (i.e., revenue bonds).
Governmental Business-Type
Activities Activities Total
2010 2010 2010
General obligations debt:
Bonds and notes 60,930,316$ 71,022,561$ 131,952,877$
Total general obligation debt 60,930,316 71,022,561 131,952,877
Revenue bonds - 77,877,052 77,877,052
Total 60,930,316$ 148,899,613$ 209,829,929$
City of Oshkosh's Outstanding Debt
Governmental Business-Type
Activities Activities Total
2009 2009 2009
General obligations debt:
Bonds and notes 54,594,494$ 75,062,759$ 129,657,253$
Total general obligation debt 54,594,494 75,062,759 129,657,253
Revenue bonds - 51,273,148 51,273,148
Total 54,594,494$ 126,335,907$ 180,930,401$
City of Oshkosh's Outstanding Debt
The City’s total debt increased by $28,899,528 (16.0%) in 2010 and by $11,156,856 (6.6%) in 2009.
The City maintains an Aa2 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 2010 and 2009 for the City was $188,971,890 and $190,090,895,
respectively, which is significantly in excess of the City’s $131,952,877 and $129,657,253 outstanding
general obligation debt.
20
Economic Factors and Next Year’s Budgets and Rates
• The economic condition and outlook of the City has remained fairly stable based on a relatively
healthy mix of manufacturing, tourism, service industry and retail activities which support our tax
base.
• Inflationary trends in our region compare favorably to national indices.
All of these factors were considered in preparing the City’s budget for the 2011 fiscal year.
Contacting the City’s Financial Management
This financial report is designed to provide a general overview of the City’s finances for all those with an
interest in the City’s finances. Questions concerning any of the information provided in this report or
requests for additional financial information should be addressed to Peggy Steeno, Director of Finance,
City of Oshkosh, P. O. Box 1130, Oshkosh, Wisconsin 54903-1130.
21
BASIC FINANCIAL STATEMENTS
Governmental Business-type Housing Redevelopment
Activities Activities Total Authority Authority
ASSETS
Cash and investments 26,011,748$ 32,056,291$ 58,068,039$ 1,255,566$ 1,946,241$
Receivables
Taxes 28,693,647 7,899,492 36,593,139 - -
Special assessments 5,331,796 - 5,331,796 - -
Accounts 6,349,898 8,777,468 15,127,366 842,431 322,480
Internal balances 3,057,324 (3,057,324) - - -
Due from other governments 529,619 - 529,619 - -
Inventories and prepaid items 15,128 740,605 755,733 45,801 -
Notes receivable 3,347,240 - 3,347,240 - -
Restricted Assets - 26,772,577 26,772,577 455,395 636,007
Capital assets
Land and construction in progress 16,904,586 75,721,017 92,625,603 1,225,400 17,720,778
Other capital assets, net of accumulated
depreciation 94,725,939 157,168,030 251,893,969 6,215,484 -
Notes receivable - 259,675 259,675 4,039,835 -
Deferred charges and deposits - 18,499 18,499 - -
TOTAL ASSETS 184,966,925 306,356,330 491,323,255 14,079,912 20,625,506
LIABILITIES
Accounts payable 3,981,228 1,443,964 5,425,192 107,786 76,795
Accrued expenses 2,646,972 1,000,000 3,646,972 190,171 -
Accrued interest payable 358,878 917,794 1,276,672 - -
Due to other governments - 80,360 80,360 - -
Intergovernmental payables 3,347,240 - 3,347,240 - -
Unearned revenues 32,400,442 7,933,873 40,334,315 42,105 -
Deposits 1,185,401 20,300 1,205,701 49,532 14,843
Long-term obligations
Due within one year 6,263,535 11,823,222 18,086,757 13,904 -
Due in more than one year 69,684,740 136,870,365 206,555,105 700,502 6,177,692
TOTAL LIABILITIES 119,868,436 160,089,878 279,958,314 1,104,000 6,269,330
NET ASSETS
Invested in capital assets, net of
related debt 59,344,634 116,520,471 175,865,105 7,226,478 11,543,086
Restricted for
Construction of assets 6,161,672 - 6,161,672 - -
Debt service 802,645 - 802,645 455,395 636,007
Special purposes 2,225,449 - 2,225,449 - -
Trust agreements 3,591,586 - 3,591,586 - -
Unrestricted (deficit)(7,027,497) 29,745,981 22,718,484 5,294,039 2,177,083
TOTAL NET ASSETS 65,098,489$ 146,266,452$ 211,364,941$ 12,975,912$ 14,356,176$
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh, Wisconsin
Statement of Net Assets
December 31, 2010
Primary Government Component Units
22
Operating Capital
Charges for Grants and Grants and Governmental Business-type Housing Redevelopment
Functions/Programs Expenses Services Contributions Contributions Activities Activities Total Authority Authority
Primary government:
Governmental Activities
General government 6,391,836$ 119,557$ -$ -$ (6,272,279)$ -$ (6,272,279)$
Public safety 23,653,443 4,088,498 486,642 - (19,078,303) - (19,078,303)
Public works 14,880,323 5,214,099 3,257,975 - (6,408,249) - (6,408,249)
Health and welfare 1,017,262 209,533 292,570 - (515,159) - (515,159)
Parks and recreation 8,558,050 2,644,591 132 - (5,913,327) - (5,913,327)
Transportation 685,570 - - - (685,570) - (685,570)
Community development 4,903,810 2,991,609 1,220,445 - (691,756) - (691,756)
Unclassified 551,791 - - - (551,791) - (551,791)
Interest on debt 2,217,235 - - - (2,217,235) - (2,217,235)
Total Governmental Activities 62,859,320 15,267,887 5,257,764 - (42,333,669) - (42,333,669)
Business-type Activities
Transit utility 4,800,584 871,564 3,945,601 2,125,794 - 2,142,375$ 2,142,375
Water utility 11,296,626 11,359,012 - 326,657 - 389,043 389,043
Sewer utility 8,493,557 9,002,688 - 368,316 - 877,447 877,447
Storm water utility 2,776,140 3,724,446 - 49,320 - 997,626 997,626
Other 5,201,117 868,689 774,883 160,303 - (3,397,242) (3,397,242)
Total Business-type Activities 32,568,024 25,826,399 4,720,484 3,030,390 - 1,009,249 1,009,249
Total primary government 95,427,344$ 41,094,286$ 9,978,248$ 3,030,390$ (42,333,669) 1,009,249 (41,324,420)
Component units:
Housing authority 2,750,443$ 1,654,001$ 126,555$ -$ (969,887)$ -$
Redevelopment authority 1,903,887 - 1,085 - - (1,902,802)
Total component units 4,654,330$ 1,654,001$ 127,640$ -$ (969,887) (1,902,802)
General revenues
Property taxes, levied for general purposes 12,560,637 8,148,457 20,709,094 - -
Property taxes, levied for debt service 16,675,924 - 16,675,924 - -
State and federal aids not restricted to specific
functions 13,454,777 - 13,454,777 - 562,500
Interest and investment earnings 467,806 226,694 694,500 206,360 8,853
Gain on sale of capital assets 75,206 123,567 198,773 - -
Miscellaneous 756,938 - 756,938 694,425 -
Transfers (237,000) 237,000 - - -
Total general revenues and transfers 43,754,288 8,735,718 52,490,006 900,785 571,353
Change in net assets 1,420,619 9,744,967 11,165,586 (69,102) (1,331,449)
Net assets - January 1, as restated 63,677,870 136,521,485 200,199,355 13,045,014 15,687,625
Net assets - December 31 65,098,489$ 146,266,452$ 211,364,941$ 12,975,912$ 14,356,176$
The notes to the basic financial statements are an integral part of this statement.
Primary Government Component Units
CITY OF OSHKOSH
Oshkosh, Wisconsin
Statement of Activities
Year Ended December 31, 2010
Primary Government Net (Expense) Revenue and Changes in Net Assets
23
Other Total
Debt Governmental Governmental
General Service Funds Funds
ASSETS
Cash and investments 2,157,751$ 802,645$ 18,040,690$ 21,001,086$
Receivables
Taxes 6,765,882 16,387,400 5,520,000 28,673,282
Special assessment - - 5,331,796 5,331,796
Accounts 2,786,144 - 3,534,226 6,320,370
Due from other funds 6,810,881 - - 6,810,881
Due from other governments - - 529,619 529,619
Inventories and prepaid items 15,128 - - 15,128
Notes receivable - - 3,347,240 3,347,240
TOTAL ASSETS 18,535,786$ 17,190,045$ 36,303,571$ 72,029,402$
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable 1,065,136$ -$ 2,916,092$ 3,981,228$
Accrued payroll liabilities 1,837,904 - - 1,837,904
Due to other funds 155 - 3,753,402 3,753,557
Due to other governments - - 3,347,240 3,347,240
Deferred revenues 6,750,645 16,387,400 9,242,032 32,380,077
Deposits 10,509 - 1,174,892 1,185,401
Total Liabilities 9,664,349 16,387,400 20,433,658 46,485,407
Fund Balances
Nonspendable
Inventories and prepaid items 15,128 - - 15,128
Restricted for
Construction of assets - - 6,161,672 6,161,672
Debt service - 802,645 - 802,645
Special purposes - - 2,225,449 2,225,449
Trust agreements - - 3,591,586 3,591,586
Committed to
Special purposes - - 1,440,897 1,440,897
Assigned to
Construction of assets - - 4,378,911 4,378,911
Subsequent years 766,216 - - 766,216
Unassigned 8,090,093 - (1,928,602) 6,161,491
Total Fund Balances 8,871,437 802,645 15,869,913 25,543,995
TOTAL LIABILITIES AND FUND
BALANCES 18,535,786$ 17,190,045$ 36,303,571$
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, 2010
24
Total fund balance - total governmental funds 25,543,995$
Amounts reported for governmental activities in the statement of net assets are different because:
111,630,525
4,231,122
(76,307,153)
Net assets of governmental activities 65,098,489$
The notes to the basic financial statements are an integral part of this statement.
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 $4,231,122 are included in
governmental activities in the statement of net assets.
Long-term obligations of $75,948,275 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 $358,878.
CITY OF OSHKOSH
Oshkosh, Wisconsin
Reconciliation of the Balance Sheet of Governmental
Funds to the Statement of Net Assets
December 31, 2010
Capital assets of $183,576,618, net of accumulated depreciation of
$71,946,093, are not financial resources and, therefore, are not reported in
the funds. See Note C(4) for additional detail.
25
Other Total
Debt Governmental Governmental
General Service Funds Funds
Revenues
Taxes 6,340,000$ 16,675,924$ 6,159,150$ 29,175,074$
Special assessments - - 3,560,361 3,560,361
Intergovernmental 16,634,253 - 2,211,084 18,845,337
Licenses and permits 1,432,101 - 117,976 1,550,077
Fines and forfeits 801,492 - - 801,492
Public charges for services 2,962,755 - 1,957,164 4,919,919
Intergovernmental charges for services 3,348,419 - - 3,348,419
Miscellaneous 814,908 29,317 1,404,879 2,249,104
Total Revenues 32,333,928 16,705,241 15,410,614 64,449,783
Expenditures
Current
General government 5,929,199 - - 5,929,199
Public safety 22,416,142 - 113,415 22,529,557
Public works 7,566,281 - 1,883,044 9,449,325
Health and welfare - - 1,013,821 1,013,821
Parks and recreation 1,839,699 - 5,625,936 7,465,635
Transportation 685,570 - - 685,570
Community development 1,597,110 - 3,114,716 4,711,826
Unclassified 551,791 - - 551,791
Debt service
Principal - 9,625,951 - 9,625,951
Interest and fiscal charges - 2,113,520 - 2,113,520
Capital outlay - - 9,422,185 9,422,185
Total Expenditures 40,585,792 11,739,471 21,173,117 73,498,380
Excess of Revenues Over (Under)
Expenditures (8,251,864) 4,965,770 (5,762,503) (9,048,597)
Other Financing Sources (Uses)
Long-term debt issued - 6,740,000 11,844,000 18,584,000
Payment to refunding escrow agent - (2,622,227) - (2,622,227)
Transfers in 9,500,198 - 279,091 9,779,289
Transfers out - (9,427,881) (588,408) (10,016,289)
Total Other Financing Sources (Uses)9,500,198 (5,310,108) 11,534,683 15,724,773
Net Change in Fund Balances 1,248,334 (344,338) 5,772,180 6,676,176
Fund Balances - January 1 7,623,103 1,146,983 10,097,733 18,867,819
Fund Balances - December 31 8,871,437$ 802,645$ 15,869,913$ 25,543,995$
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, 2010
26
Net Change in Fund Balances - Total Governmental Funds 6,676,176$
Amounts reported for governmental activities in the statement of activities are different because:
Capital outlay reported in governmental fund statements 10,085,002$
Depreciation expense reported in the statement of activities (7,837,308)
Amount by which capital outlays are greater than depreciation in
current period 2,247,694
52,750
(1,116,464)
(18,584,000)
12,248,178
(103,715)
Change in Net Assets of Governmental Activities 1,420,619$
The notes to the basic financial statements are an integral part of this statement.
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.
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:
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 long-
term liability. The amount of debt reported in the governmental funds
statement is:
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:
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:
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, 2010
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.
27
Variance with
Final Budget -
Actual Positive
Original Final Amounts (Negative)
Revenues
Taxes 5,960,800$ 5,960,800$ 6,340,000$ 379,200$
Intergovernmental 16,551,600 16,551,600 16,634,253 82,653
Licenses and permits 1,419,900 1,419,900 1,432,101 12,201
Fines and forfeits 813,500 813,500 801,492 (12,008)
Public charges for services 2,973,100 2,973,100 2,962,755 (10,345)
Intergovernmental charges for services 3,123,300 3,123,300 3,348,419 225,119
Miscellaneous 1,071,100 1,071,100 814,908 (256,192)
Total Revenues 31,913,300 31,913,300 32,333,928 420,628
Expenditures
Current
General government 5,924,400 5,924,400 5,929,199 (4,799)
Public safety 22,896,500 22,896,500 22,416,142 480,358
Public works 8,170,500 8,170,500 7,566,281 604,219
Parks and recreation 1,769,300 1,769,300 1,839,699 (70,399)
Transportation 706,400 706,400 685,570 20,830
Community development 1,725,800 1,725,800 1,597,110 128,690
Unclassified 518,100 518,100 551,791 (33,691)
Total Expenditures 41,711,000 41,711,000 40,585,792 1,125,208
Excess of Revenues Over (Under) Expenditures (9,797,700) (9,797,700) (8,251,864) 1,545,836
Other Financing Sources:
Long-term debt issued 30,000 30,000 - (30,000)
Transfers in 9,767,700 9,767,700 9,500,198 (267,502)
Total Other Financing Sources 9,797,700 9,797,700 9,500,198 (297,502)
Net Change in Fund Balance - - 1,248,334 1,248,334
Fund Balance - January 1 7,623,103 7,623,103 7,623,103 -
Fund Balance - December 31 7,623,103$ 7,623,103$ 8,871,437$ 1,248,334$
The notes to the basic financial statements are an integral part of this statement.
Budgeted Amounts
CITY OF OSHKOSH
Oshkosh, Wisconsin
Statement of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
General Fund
Year Ended December 31, 2010
28
Other Internal
Transit Water Sewer Storm Water Proprietary Service
Utility Utility Utility Utility Funds Total Funds
ASSETS
Current Assets
Cash and investments 499,640$ 5,128,145$ 3,535,936$ 5,335,869$ 17,556,701$ 32,056,291$ 5,010,662$
Receivables
Accounts 373,819 3,834,820 3,097,263 1,250,011 221,555 8,777,468 29,528
Taxes 764,400 - - - 7,135,092 7,899,492 20,365
Due from other funds - 516,723 6,719 15,609 157,433 696,484 -
Due from other governments - - - - - - -
Inventories and prepayments 126,274 602,008 11,769 554 - 740,605 -
Total Current Assets 1,764,133 10,081,696 6,651,687 6,602,043 25,070,781 50,170,340 5,060,555
Noncurrent Assets
Restricted assets - 4,704,519 3,985,645 17,739,266 343,147 26,772,577 -
Capital Assets
Land and construction in progress 367,811 15,000,196 10,025,459 14,897,467 35,430,084 75,721,017 -
Other capital assets, net of accumulated
depreciation 3,445,502 70,207,928 60,664,930 11,361,911 11,487,759 157,168,030 -
Total Capital Assets, Net 3,813,313 85,208,124 70,690,389 26,259,378 46,917,843 232,889,047 -
Notes receivable - - - - 259,675 259,675 -
Deferred charges and deposits - 14,908 20 - 3,571 18,499 -
Total Noncurrent Assets - 14,908 20 - 263,246 278,174 -
TOTAL ASSETS 5,577,446 100,009,247 81,327,741 50,600,687 72,595,017 310,110,138 5,060,555
LIABILITIES
Current Liabilities
Accounts payable 176,951 396,512 377,193 328,395 164,913 1,443,964 -
Accrued expenses 1,355 1,129,955 130,614 182,904 472,966 1,917,794 809,068
Deposits 900 - 13,400 - 6,000 20,300 -
Due to other funds - 43,953 502,449 354,006 2,853,400 3,753,808 -
Due to other governments 80,360 - - - - 80,360 -
Unearned revenues 772,781 - - - 7,161,092 7,933,873 20,365
Current portion of long-term obligations 254,564 4,087,186 3,234,734 1,589,794 2,656,944 11,823,222 -
Total Current Liabilities 1,286,911 5,657,606 4,258,390 2,455,099 13,315,315 26,973,321 829,433
Noncurrent Liabilities
Noncurrent portion of long-term obligations 150,265 46,250,172 26,212,717 34,093,392 30,163,819 136,870,365 -
Total Noncurrent Liabilities 150,265 46,250,172 26,212,717 34,093,392 30,163,819 136,870,365 -
TOTAL LIABILITIES 1,437,176 51,907,778 30,471,107 36,548,491 43,479,134 163,843,686 829,433
NET ASSETS
Invested in capital assets, net of related debt 3,591,300 39,867,464 45,480,881 8,429,665 19,151,161 116,520,471 -
Unrestricted 548,970 8,234,005 5,375,753 5,622,531 9,964,722 29,745,981 4,231,122
TOTAL NET ASSETS 4,140,270$ 48,101,469$ 50,856,634$ 14,052,196$ 29,115,883$ 146,266,452$ 4,231,122$
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh, Wisconsin
Statement of Net Assets
Proprietary Funds
December 31, 2010
Enterprise Funds
29
Storm Other Internal
Transit Water Sewer Water Proprietary Service
Utility Utility Utility Utility Funds Total Funds
Operating Revenues
Licenses and permits -$ -$ -$ -$ -$ -$ 88$
Fines, forfeitures and penalties - - - - 44,593 44,593 44,668
Intergovernmental charges for services - - - - - - 7,449,343
Public charges for services 841,089 11,359,012 9,002,688 3,724,446 686,535 25,613,770 -
Other revenues 30,475 - - - 137,561 168,036 1,632,449
Total Operating Revenues 871,564 11,359,012 9,002,688 3,724,446 868,689 25,826,399 9,126,548
Operating Expenses
Operating and maintenance 4,426,220 6,365,712 5,190,326 1,743,456 2,599,736 20,325,450 -
Depreciation and amortization 364,223 3,155,448 2,270,591 258,505 302,289 6,351,056 -
Claims and administration - - - - - - 9,096,198
Total Operating Expenses 4,790,443 9,521,160 7,460,917 2,001,961 2,902,025 26,676,506 9,096,198
Operating Income (Loss)(3,918,879) 1,837,852 1,541,771 1,722,485 (2,033,336) (850,107) 30,350
Nonoperating Revenues (Expenses)
Taxes 113,176 - - - 8,035,281 8,148,457 22,400
Intergovernmental revenues 3,945,601 - - - 774,883 4,720,484 -
Interest on investments - 81,778 60,086 81,263 3,567 226,694 -
Debt discount amortization - - - - (7,143) (7,143) -
Gain on disposal of capital assets - - - - 123,567 123,567 -
Interest expense (10,141) (1,775,466) (1,032,640) (774,179) (2,291,949) (5,884,375) -
Total Nonoperating Revenues (Expenses)4,048,636 (1,693,688) (972,554) (692,916) 6,638,206 7,327,684 22,400
Income before transfers and
contributed capital 129,757 144,164 569,217 1,029,569 4,604,870 6,477,577 52,750
Transfers in - - - - 237,000 237,000 -
Contributed capital 2,125,794 326,657 368,316 49,320 160,303 3,030,390 -
Change in Net Assets 2,255,551 470,821 937,533 1,078,889 5,002,173 9,744,967 52,750
Net Assets - January 1 1,884,719 47,630,648 49,919,101 12,973,307 24,113,710 136,521,485 4,178,372
Net Assets - December 31 4,140,270$ 48,101,469$ 50,856,634$ 14,052,196$ 29,115,883$ 146,266,452$ 4,231,122$
The notes to the basic financial statements are an integral part of this statement.
CITY OF OSHKOSH
Oshkosh, Wisconsin
Statement of Revenues, Expenses and Changes in Fund Net Assets
Proprietary Funds
Year Ended December 31, 2010
Enterprise Funds
30
Other Internal
Transit Water Sewer Storm Water Proprietary Service
Utility Utility Utility Utility Funds Total Funds
Cash Flows from Operating Activities
Cash received from customers 661,940$ 11,243,000$ 9,103,564$ 3,703,476$ 527,329$ 25,239,309$ 9,111,455$
Cash payments to suppliers and employees (4,457,526) (9,278,118) (7,451,615) (3,904,800) (1,127,211) (26,219,270) (9,142,448)
Net Cash Provided (Used) by Operating
Activities (3,795,586) 1,964,882 1,651,949 (201,324) (599,882) (979,961) (30,993)
Cash Flows from Non-Capital Financing Activities
Property taxes received 113,176 - - - 8,035,281 8,148,457 22,400
Transfer from other funds - - - - 237,000 237,000 -
Operating grants received 4,126,908 - - - 774,883 4,901,791 -
Net Cash Provided by Non-Capital Financing
Activities 4,240,084 - - - 9,047,164 13,287,248 22,400
Cash Flows from Capital and Related Financing
Activities
Acquisition of capital assets (1,998,481) (4,788,253) (4,575,993) (10,280,508) (1,637,980) (23,281,215) -
Principal payments on long-term debt (192,492) (5,758,051) (4,309,705) (919,955) (13,913,241) (25,093,444) -
Interest payments on long-term debt (9,679) (1,794,703) (1,010,167) (721,266) (2,285,696) (5,821,511) -
Long-term debt issued 130,000 7,786,082 6,965,000 21,020,000 11,756,068 47,657,150 -
Proceeds from sale of assets - - - - 190,427 190,427 -
Captial contributions 2,125,794 326,657 368,316 49,320 - 2,870,087 -
Net Cash Provided (Used) by Capital and Related
Financing Activities 55,142 (4,228,268) (2,562,549) 9,147,591 (5,890,422) (3,478,506) -
Cash Flows from Investing Activities
Proceeds from note receivable - - - - - - -
Investment income received - 81,778 60,086 81,263 3,567 226,694 -
Net Cash Provided by Investing Activities - 81,778 60,086 81,263 3,567 226,694 -
Net Increase (Decrease) in Cash and Cash Equivalents 499,640 (2,181,608) (850,514) 9,027,530 2,560,427 9,055,475 (8,593)
Cash and Cash Equivalents - January 1 - 12,014,272 8,372,095 14,047,605 15,339,421 49,773,393 5,019,255
Cash and Cash Equivalents - December 31 499,640$ 9,832,664$ 7,521,581$ 23,075,135$ 17,899,848$ 58,828,868$ 5,010,662$
Reconciliation of Operating Income (Loss) to Net
Cash Provided (Used) by Operating Activities:
Operating income (loss)(3,918,879)$ 1,837,852$ 1,541,771$ 1,722,485$ (2,033,336)$ (850,107)$ 30,350$
Adjustments to reconcile operating income to
net cash provided (used) by operating activities:
Depreciation 364,223 3,155,448 2,270,591 258,505 302,289 6,351,056 -
Changes in assets and liabilities
Accounts receivable (194,427) (149,962) 92,228 (21,364) (184,177) (457,702) (15,093)
Due from other funds - - - - (157,183) (157,183) -
Inventories and deferred charges (15,197) 33,950 8,648 394 - 27,795 -
Accounts payable and accrued expenses 22,773 5,312 94,447 172,661 574,591 869,784 (46,250)
Due to other funds (25,079) (2,915,718) (2,355,736) (2,334,005) 649,755 (6,980,783) -
Deferred revenues and deposits (29,000) (2,000) - - 248,179 217,179 -
Net Cash Provided (Used) by Operating Activities (3,795,586)$ 1,964,882$ 1,651,949$ (201,324)$ (599,882)$ (979,961)$ (30,993)$
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, 2010
Enterprise Funds
31
CITY OF OSHKOSH
Oshkosh, Wisconsin
Statement of Net Assets
Fiduciary Funds
December 31, 2010
Property Hospital
Taxes Bioterrorism
ASSETS
Cash and cash equivalents 32,214,010$ 4,202$
Taxes receivable 24,693,289 -
Total assets 56,907,299$ 4,202$
LIABILITIES
Due to other governments 56,907,299$ 4,202$
Total liabilities 56,907,299$ 4,202$
The notes to the basic financial statements are an integral part of this statement.
Agency Funds
32
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, WI 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.
33
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, capital projects, and permanent
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.
STORM WATER UTILITY FUND
This fund accounts for the construction, operation and maintenance of the City owned storm water
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.
34
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.
35
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.
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 Payables
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 $1,500
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.
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Depreciable capital assets of the City are depreciated using the straight-line method over the
following estimated useful lives:
Assets
Buildings, systems and land improvements 30 – 80 25 – 88
Machinery and equipment 1 – 25 10 – 25
Infrastructures 20 – 35 40 – 150
Governmental
Activities
Business-Type
Activities
Years
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.
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J. Net Assets and Fund Equity
Governmental Fund Financial Statements
Beginning in 2010, the City implemented GASB Statement 54 “Fund Balance Reporting and
Governmental Fund Type Definitions”. The Statement provides more clearly defined fund balance
categories to make the nature and extend of the constraints placed on a government’s fund balance
more transparent. The following classifications describe the relative strength of the spending
constraints placed on the purposes for which resources can be used:
• Nonspendable fund balance – amounts that are not in spendable form (such as inventory) or are
required to be maintained in tact;
• Restricted fund balance – amounts constrained to specific purposes by their providers (such as
grantors, bondholders, and higher levels of government), through constitutional provisions, or by
enabling legislation;
• Committed fund balance – amounts constrained to specific purposes by a government itself,
using its highest level of decision-making authority; to be reported as committed, amounts cannot
be used for any other purpose unless the government takes the same highest level action to
remove or change the constraint;
• Assigned fund balance – amounts a government intends to use for specific purpose; intent can be
expressed by the governing body or by an official or body to which the government body
delegates the authority;
• Unassigned fund balance – amounts that are available for any purpose; these amounts are
reported only in the general fund.
City Council establishes (and modifies or rescinds) fund balance commitments by passage of an
ordinance or resolution. This is typically done through adoption and amendment of the budget. A
fund balance commitment is further indicated in the budget document as a designation or
commitment on the fund (such as for special incentives). Assigned fund balance is established by
City Council through adoption or amendment of the budget as intended for specific purpose (such as
the purchase of fixed assets, construction, debt service, or for other purposes).
Government-wide and Proprietary Fund Statements
Equity is classified as net assets and displayed in three components:
• 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.
• 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.
• Unrestricted net assets - Net assets that are neither classified as restricted nor as invested in
capital assets, net of related debt.
Use of Restricted Resources
When an expense is incurred that can be paid using either restricted or unrestricted resources (net
assets), the City’s policy is to first apply the expense toward restricted resources and then toward
unrestricted resources. In governmental funds, the City’s policy is to first apply the expenditure
toward restricted fund balance and then to other, less-restrictive classification – committed and then
assigned fund balances before using unassigned fund balances.
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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.
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, 2010.
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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, 2010 as follows:
Excess
Function Expenditures
General fund General government 4,799$
General fund Parks and recreation 70,399
General fund Unclassified 33,691
Fund
The above excess expenditures were funded using positive revenue variances and available fund
balances.
3. Deficit Fund Equity
The following funds had deficit fund equity as of December 31, 2010:
Fund Deficit Fund Equity
Cemetery special revenue fund 32,244$
Other Public Works capital projects fund 1,896,158
The City anticipates funding the above deficits from future revenues and tax levies of the funds.
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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.
The carrying amount of the City’s cash and investments totaled $117,058,828 on December 31, 2010 as
summarized below:
Petty Cash funds 8,385$
Deposits with financial institutions 107,799,830
Investments
Federal agencies 635,553
Money markets 2,215,038
Mutual funds 188,306
U.S. Treasury 6,178,396
Wisconsin local government pool 33,320
117,058,828$
Reconciliation to the basic financial statements:
Basic financial statements
Cash and investments 58,068,039$
Restricted cash and investments 26,772,577
Fiduciary funds
Agency fund 32,218,212
117,058,828$
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.
41
Deposits with financial institutions within the State of Wisconsin are insured by the Federal Deposit
Insurance Corporation (FDIC) in the amount of $250,000 for time and savings deposits and $250,000 for
demand deposits per official custodian per insured depository institution. Deposits with financial
institutions located outside the State of Wisconsin are insured by the FDIC in the amount of $250,000 per
official custodian per depository. In addition, the City’s non-interest bearing transaction accounts
accounts are fully insured through December 31, 2012. The City’s low-interest NOW accounts are fully
insured under the Temporary Transaction Account Guarantee Program through December 31, 2010. In
addition, the State of Wisconsin has a State Guarantee Fund which provides a maximum of $400,000 per
public depository above the amount provided by an agency of the U.S. Government. However, due to the
relatively small size of the State Guarantee Fund in relation to the Fund's total coverage, total recovery of
insured losses may not be available.
As of December 31, 2010, none of the City’s deposits with financial institutions was in excess of federal
depository insurance limits and uncollateralized.
Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of
the investment. This is measured by the assignment of a rating by a nationally recognized statistical
rating organization. Wisconsin statutes limit investments in securities to the top two ratings assigned by
nationally recognized statistical rating organizations. The City does not have an additional credit risk
policy. Presented below is the actual rating as of year end for each investment type.
Exempt
From Not
Amount Disclosure AAA Aa Rated
U.S. Treasury bonds 6,178,396$ 6,178,396$ -$ -$ -$
Federal agencies 635,553 - 635,553 - -
Money market 2,215,038 - - - 2,215,038
Mutual funds 188,306 - - - 188,306
Wisconsin local governement
investment pool 33,320 - - - 33,320
Totals 9,250,613$ 6,178,396$ 635,553$ -$ 2,436,664$
Investment Type
Ratings as of Year End
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.
42
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:
12 months 13 to 24 25 to 60 More Than
Amount or Less Months Months 60 Months
U.S. Treasury bonds 6,178,396$ 1,000,000$ 845,000$ 1,383,396$ 2,950,000$
Federal agencies 635,553 635,553 - - -
Money market 2,215,038 2,215,038 - - -
Mutual funds 188,306 188,306 - - -
Wisconsin local governement
investment pool 33,320 33,320 - - -
Totals 9,250,613$ 4,072,217$ 845,000$ 1,383,396$ 2,950,000$
Investment Type
Remaining Maturity (in Months)
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 $33,320 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, 2010, the fair value of the City’s share of the
LGIP’s assets was substantially equal to the carrying value.
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, 2010, the carrying amount of the Authority’s demand deposits was $125,712 and the
bank balance was $125,712. 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 $0
was uninsured and uncollateralized.
Investments
At June 30, 2010, the carrying amount of the Authority’s deposits was $1,468,232 and the bank
balance was $1,468,232. None of this balance was covered by federal depository insurance or the
State of Wisconsin Public Deposit Guarantee Fund.
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The Redevelopment Authority, as a component unit of the City of Oshkosh, also maintains separate cash
and investment accounts as detailed below:
Demand deposits
At December 31, 2010, the carrying amount of the Authority’s deposits was $646,802 and the bank
balance was $646,802. Of the bank balance, $250,000 was covered by federal depository insurance
and $400,000 was covered by the State of Wisconsin Public Deposit Guarantee Fund. In addition, the
Authority’s non-interest bearing transaction accounts and low-interest NOW accounts are fully insured
under the Temporary Transaction Account Guarantee Program through December 31, 2010.
As of December 31, 2010, $0 of the Authority’s deposits with financial institutions was in excess of
federal depository insurance limits and uncollateralized.
Investments
On December 31, 2010, the Authority held U. S. Treasury Obligations of $1,935,446. These
obligations carry a credit rating of AAA and will mature within 12 months. None of this balance was
covered by federal depository insurance or the State of Wisconsin Public Deposit Guarantee Fund.
2. Restricted Assets
Restricted assets on December 31, 2010 totaled $26,772,577 and consisted entirely of cash and
investments for the following purposes.
Water Utility
Debt proceeds restricted for capital outlay 2,972,670$
Depreciation fund 135,702
General obligation redemption fund 1,596,147
4,704,519
Sewer Utility
Debt proceeds restricted for capital outlay 1,736,858
General obligation redemption fund 374,399
Replacement fund 1,874,388
3,985,645
Storm Water Utility
Debt proceeds restricted for capital outlay 15,814,121
General obligation redemption fund 1,925,145
17,739,266
Oshkosh Redevelopment Project
General obligation redemption fund 343,147
Total Restricted Assets 26,772,577$
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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 – 2010 tax roll:
Lien date and levy date December 31, 2010
Tax bills mailed On or after December 1, 2010
Payment in full, or:
First installment due January 31, 2011
Second installment due March 31, 2011
Third installment due May 31, 2011
Fourth installment due July 31, 2011
Personal property taxes in full January 31, 2011
Tax settlements:
Initial settlement January 15, 2011
Second, third and fourth settlement 20 days after the collection date
Final settlement August 20, 2011
Tax deed by County --
2010 delinquent real estate taxes October 1, 2014
Property Tax Levy 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 2011. 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 3.0% per year in the 2010 budget year. The actual limit for the City for the 2010
budget was 3.0%. 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.
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4. Capital Assets
Capital asset activity for the year ended December 31, 2010 was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental activities:
Capital assets not being depreciated
Land 16,364,800$ 546,647$ 6,861$ 16,904,586$
Total capital assets not being depreciated 16,364,800 546,647 6,861 16,904,586
Capital assets being depreciated
Buildings and systems 40,607,865 1,295,560 - 41,903,425
Infrastructures 78,175,770 5,046,796 4,394,752 78,827,814
Machinery and equipment 44,121,085 3,195,999 1,376,291 45,940,793
Total assets being depreciated 162,904,720 9,538,355 5,771,043 166,672,032
Less accumulated depreciation for:
Buildings and systems 9,414,356 891,125 - 10,305,481
Infrastructures 37,425,934 4,442,197 4,394,752 37,473,379
Machinery and equipment 23,046,399 2,497,125 1,376,291 24,167,233
Total accumulated depreciation 69,886,689 7,830,447 5,771,043 71,946,093
Total capital assets being depreciated, net 93,018,031 1,707,908 - 94,725,939
Governmental activities capital assets, net 109,382,831$ 2,254,555$ 6,861$ 111,630,525$
Depreciation expense was charged to functions of the primary government as follows:
Governmental activities:
General government 326,932$
Public safety 869,859
Public works 5,437,072
Parks and recreation 1,155,032
Community development 44,972
Total depreciation expense - governmental activities 7,837,308$
Primary Government
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Beginning Ending
Balance Increases Decreases Balance
Business-type activities:
Capital assets not being depreciated
Land 37,113,795$ 378,337$ 70,449$ 37,421,683$
Construction in progress 25,420,698 12,878,636 - 38,299,334
Total capital assets not being depreciated 62,534,493 13,256,973 70,449 75,721,017
Capital assets being depreciated
Buildings, systems, & land improvements 190,919,311 7,247,311 1,622,271 196,544,351
Machinery and equipment 37,366,532 3,038,723 377,294 40,027,961
Total assets being depreciated 228,285,843 10,286,034 1,999,565 236,572,312
Less accumulated depreciation for:
Buildings, systems, & land improvements 49,038,158 4,509,486 1,622,271 51,925,373
Machinery and equipment 25,891,049 1,965,154 377,294 27,478,909
Total accumulated depreciation 74,929,207 6,474,640 1,999,565 79,404,282
Total capital assets being depreciated, net 153,356,636 3,811,394 - 157,168,030
Business-type activities capital assets, net 215,891,129$ 17,068,367$ 70,449$ 232,889,047$
Depreciation expense was charged to functions of the primary government as follows:
Business-type activities:
Transit utility 364,223$
Water utility 3,155,448
Sewer utility 2,270,591
Storm water utility 258,505
Other 302,289
Total depreciation expense - business-type activities 6,351,056$
Primary Government
5. Notes receivable
Notes receivable of $3,347,240 in the Special Revenue Fund represents noninterest bearing loans made
to City residents as part of the City’s participation in the Community Block Grant Program for residential
rehabilitation. These notes are payable to the City at the time the property is sold or at the time the
property is no longer occupied by the owner and is due to the funding agency upon termination of the
program.
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6. Long-term Obligations
The following is a summary of changes in long-term obligations of the City for the year ended December
31, 2010:
Beginning Ending Due Within
Balance Additions Reductions Balance One Year
Governmental activities:
General obligation
bonds and notes 54,594,494$ 18,584,000$ 12,248,178$ 60,930,316$ 5,825,535$
Total bonds and notes payable 54,594,494 18,584,000 12,248,178 60,930,316 5,825,535
Other liabilities
Unused vacation and
sick leave credits 2,888,438 46,906 - 2,935,344 -
Accrued OPEB obligation 1,492,192 1,214,226 415,377 2,291,041 -
Unfunded pension liability 9,520,865 708,481 437,772 9,791,574 438,000
Total other liabilities 13,901,495 1,969,613 853,149 15,017,959 438,000
Total governmental activities
long-term obligations 68,495,989$ 20,553,613$ 13,101,327$ 75,948,275$ 6,263,535$
Business-type activities:
Bonds payable
General obligation debt 75,062,759$ 16,002,068$ 20,042,266$ 71,022,561$ 5,659,670$
Revenue bond 51,273,148 31,655,082 5,051,178 77,877,052 5,663,375
126,335,907 47,657,150 25,093,444 148,899,613 11,323,045
Less deferred amount
on refundings (934,792) (201,593) (174,900) (961,485) -
Total bonds and notes payable 125,401,115 47,455,557 24,918,544 147,938,128 11,323,045
Other liabilities
Unused vacation and
sick leave credits 744,469 492,006 481,016 755,459 500,177
Total business-type activities
long-term obligations 126,145,584$ 47,947,563$ 25,399,560$ 148,693,587$ 11,823,222$
Total interest paid during the year on long-term debt totaled $7,381,045.
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General Obligation Debt
General obligation debt currently outstanding is detailed as follows:
Balance
outstanding
Principal Interest Original December 31,
Type Date of Issue Interest rate payable payable amount 2010
Refunding bonds:7/15/2003 2.00 - 5.00 3/15/04 - 23 6/15 - 12/15 8,615,000 4,535,000$
7/15/2003 2-00 - 5.00 3/15/04 - 21 6/15 - 12/15 1,050,000 525,000
9/1/2005 3.75 - 4.125 12/1/06 - 20 6/1 - 12/1 18,335,000 12,970,000
12/28/2006 4.00 12/1/07 - 14 6/1 - 12/1 11,865,000 3,130,000
8/25/2010 2.00 - 3.25 12/1/11 - 6/1/24 6/1 - 12/1 12,620,000 12,620,000
8/26/2010 0.75 - 3.90 12/1/11 - 21 6/1 - 12/1 8,420,000 8,420,000
Corporate purpose bonds:3/1/2002 4.70 - 5.05 12/1/03 - 21 6/1 - 12/1 11,225,000 560,000
3/1/2002 4.00 - 6.80 12/1/03 - 21 6/1 - 12/1 7,580,000 360,000
2/1/2003 2.50 - 5.00 12/1/05 - 22 6/1 - 12/1 11,675,000 8,670,000
2/1/2003 3.25 - 6.00 12/1/05 - 22 6/1 - 12/1 1,420,000 1,075,000
3/1/2004 3.00 - 5.75 12/1/05 - 23 6/1 - 12/1 6,480,000 5,040,000
2/8/2005 3.25 - 4.50 12/1/06 - 24 6/1 - 12/1 7,395,000 5,935,000
3/1/2006 4.00 - 4.50 12/1/07 - 25 6/1 - 12/1 9,265,000 7,875,000
3/1/2006 5.15 - 5.40 12/1/07 - 25 6/1 - 12/1 1,995,000 1,715,000
3/1/2007 4.00 - 5.00 12/1/08 - 26 6/1 - 12/1 7,950,000 7,080,000
3/1/2008 4.00 - 4.75 12/1/09 - 27 6/1 - 12/1 5,105,000 4,740,000
5/1/2009 2.00 - 5.75 12/1/09 - 28 6/1 - 12/1 16,740,000 15,835,000
9/2/2010 0.75 - 5.20 8/1/11 - 30 2/1 - 8/1 9,140,000 9,140,000
Promissory notes:3/1/2002 4.78 12/1/03 - 11 6/1 - 12/1 2,260,000 310,000
5/15/2002 5.00 3/15/03 - 22 3/15 1,012,000 714,347
3/19/2003 5.00 3/15/04 - 23 3/15 375,000 282,697
7/2/2003 5.00 3/15/04 - 23 3/15 1,365,720 1,014,919
9/24/2003 5.00 3/15/05 - 23 3/15 226,000 179,630
3/1/2004 2.00 - 4.00 12/1/05 - 13 6/1 - 12/1 1,565,000 585,000
12/7/2004 5.00 3/15/06 - 24 3/15 99,000 82,126
9/15/2004 5.00 3/15/06 - 24 3/15 100,000 83,844
2/8/2005 3.00 - 3.50 12/1/06 - 14 6/1 -12/1 2,540,000 1,235,000
5/31/2005 5.00 3/15/07 - 25 3/15 200,000 164,909
12/20/2005 4.50 3/15/07 - 25 3/15 1,163,000 1,001,795
12/20/2005 4.50 3/15/07 - 25 3/15 656,000 565,071
3/1/2006 3.65 - 4.00 12/1/07 - 15 6/1 - 12/1 2,500,000 1,500,000
3/1/2007 4.00 12/1/08 - 16 6/1 - 12/1 3,375,000 2,390,000
3/1/2008 3.25 - 4.00 12/1/09 - 17 6/1 - 12/1 1,565,000 1,265,000
1/29/2008 5.25 3/15/09 - 27 3/15 1,419,815 1,335,020
5/1/2009 2.00 - 4.50 12/1/10 - 18 6/1 - 12/1 2,945,000 2,610,000
4/21/2009 4.50 3/15/10 - 19 3/15 1,322,463 1,209,518
11/10/2009 4.50 3/15/10 - 19 3/15 792,933 792,933
9/2/2010 0.80 - 3.55 8/1/11 - 20 2/1 - 8/1 4,150,000 4,150,000
9/13/2010 4.50 3/15/20 - 20 3/15 256,068 256,068
131,952,877
Less amounts related to Enterprise Fund 71,022,561
60,930,316$
49
Annual principal and interest maturities of the outstanding general obligation debt on December 31, 2010
are detailed below:
Year Ended Build America
December 31, Principal Interest Principal Interest Bonds Credit Principal Interest
2011 5,825,535$ 2,348,976$ 5,659,670$ 2,928,246$ (431,616)$ 11,485,205$ 4,845,606$
2012 5,763,458 2,146,949 5,587,847 2,625,596 (433,564) 11,351,305 4,338,981
2013 4,923,747 1,953,165 5,422,775 2,254,979 (419,507) 10,346,522 3,788,637
2014 4,891,894 1,787,723 5,539,537 2,061,519 (402,796) 10,431,431 3,446,446
2015 4,643,316 1,621,029 5,554,207 2,061,519 (382,934) 10,197,523 3,299,614
2016-2020 19,145,648 5,772,835 27,270,570 7,136,554 (1,532,649) 46,416,218 11,376,740
2021-2025 11,081,865 2,593,339 13,544,223 2,274,977 (879,186) 24,626,088 3,989,130
2026-2030 4,654,853 594,093 2,443,732 250,239 (261,496) 7,098,585 582,836
60,930,316$ 18,818,109$ 71,022,561$ 21,593,629$ (4,743,748)$ 131,952,877$ 35,667,990$
Governmental Activities Business-type Activities Total
Enterprise Funds – 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.
50
Balance
Year outstanding
of Interest Principal Interest Original December 31,
Type Issue Rate payable payable amount 2010
Sewerage System
Revenue Bonds 1993 & 1994 3.84 5/01/94 - 12 5/1 & 11/1 2,881,401$ 411,280$
Sewerage System
Revenue Bonds 1995 to 1997 3.21 5/01/96 - 15 5/1 & 11/1 17,631,411 5,047,799
Water Safe Drinking
Revenue Bond 1998 2.64 5/01/99 - 19 5/1 & 11/1 11,913,672 5,740,941
Sewerage System Revenue
Clean Water 1999 2.64 5/01/00 - 19 5/1 & 11/1 3,025,930 1,641,108
Water Safe Drinking
Revenue Bond 2000 2.97 5/01/01 - 19 5/1 & 11/1 13,636,364 7,403,116
Water Safe Drinking
Revenue Bond 2001 2.75 5/01/02 - 21 5/1 & 11/1 3,483,913 2,146,567
Water Utility
Refunding Bond 2003 2.50 - 3.90 1/01/05 - 12 1/1 & 7/1 2,065,000 235,000
Water Utility
Refunding Bond 2004 2.396 5/01/05 - 24 5/1 & 11/1 1,989,231 2,551,115
Storm Water Revenue
Bond 2005 3.50 - 4.625 5/01/06 - 25 5/1 & 11/1 4,820,000 3,920,000
Water Utility
Refunding Bond 2006 4.0 - 4.5 1/01/07 - 26 1/1 & 7/1 12,705,000 10,850,000
Water Safe Drinking
Revenue Bond 2008 2.365 5/01/10 - 28 5/1 & 11/1 1,344,824 6,770,126
Storm Water Revenue
Bond 2010 0.70 - 5.20 5/01/11 - 30 5/1 & 11/1 20,800,000 20,800,000
Water Utility
Refunding Bond 2010 0.85 - 5.15 1/01/11 - 30 1/1 & 7/1 5,740,000 5,470,000
Sewerage System
Revenue Bonds 2010 0.85 - 5.15 5/01/11 - 30 5/1 & 11/1 4,890,000 4,890,000
77,877,052$
51
A summary of the type and individual Enterprise Funds debt is presented below:
Balance Balance
December 31,December 31,
2009 Additions Payments 2010
General obligation debt 75,062,759$ 16,002,068$ 20,042,266$ 71,022,561$
Revenue bond 51,273,148 31,655,082 5,051,178 77,877,052
Total 126,335,907$ 47,657,150$ 25,093,444$ 148,899,613$
Balance Balance
December 31,December 31,
2009 Additions Payments 2010
Enterprises Funds:
Sewer Utility 26,682,764$ 6,965,000$ 4,309,704$ 29,338,060$
Water Utility 48,509,338 7,786,082 5,758,051 50,537,369
Transit Utility 284,505 130,000 192,493 222,012
Parking Utility 283,055 25,000 75,500 232,555
Industrial Park 3,630,634 1,065,000 1,287,498 3,408,136
TIF Districts 29,031,829 8,876,068 10,380,165 27,527,732
Golf course 38,405 - 4,537 33,868
Oshkosh Redevelopment 2,257,000 1,790,000 2,165,541 1,881,459
Storm Water 15,618,377 21,020,000 919,955 35,718,422
Total 126,335,907 47,657,150$ 25,093,444$ 148,899,613
Less:
Current portion (11,053,100) (11,323,045)
Unamortized expense (934,792) (961,485)
Long-term debt, net 114,348,015$ 136,615,083$
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 2030. The total principal and interest remaining to be paid on the
bonds is $97,921,236. Principal and interest paid for the current year and total customer net revenues
were $5,790,166 and $21,048,235, respectively.
52
Annual principal and interest maturities of the outstanding revenue bonds on December 31, 2010 are
detailed below:
Year Ended Build America
December 31, Principal Interest Bonds Credit
2011 5,663,375$ 2,685,116$ (395,938)$ 7,952,553$
2012 5,673,618 2,463,177 (405,879) 7,730,916
2013 5,599,435 2,310,618 (401,031) 7,509,022
2014 5,767,693 2,153,458 (394,486) 7,526,665
2015 4,559,173 2,008,714 (386,207) 6,181,680
2016-2020 22,296,969 7,938,145 (1,740,884) 28,494,230
2021-2025 16,836,818 4,552,346 (1,243,403) 20,145,761
2026-2030 11,479,971 1,384,868 (484,430) 12,380,409
77,877,052$ 25,496,442$ (5,452,258)$ 97,921,236$
Total
Business-type Activities
Build America Bond
The general obligation debt issued on May 1, 2009 and September 2, 2010 and revenue bonds issued on
October 5, 2010 and October 14, 2010 qualifies as Build America Bonds, as described in Section 54AA of
the Internal Revenue Code. The interest on the debt is taxable as set forth in the regulations. The City is
eligible to receive a 35% subsidy of the annual interest payment from the Federal government. In order
to receive this subsidy it is necessary for the City to file a claim form annually.
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, 2010 is as
follows:
Equalized valuation 3,779,437,800$
Margin of indebtedness:
5% of equalized valuation 188,971,890$
Less outstanding general obligation debt 131,952,877$
Deduct Debt Service Funds available for debt retirement 802,645 131,150,232
Margin of indebtedness 57,821,658$
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.
53
Advanced Refunded Debt
During 2010, the City advance refunded general obligation bond issues from 2002. The City issued
$21,040,000 of general obligation refunding bonds to provide resources to purchase U. S. Government
and Local Government Series securities that were placed in an irrevocable trust for the purpose of
generating resources for all future debt service payments of the refunded debt. As a result, the refunded
bonds are considered to be defeased and the liability has been removed from the enterprise fund and the
general long-term debt account group. This advance refunding was undertaken to reduce total debt
service payments over the next 14 years by $2,618,625 and to obtain an economic gain (difference
between the present value of the debt service payments of the refunded and refunding bonds) of
$2,362,163.
At December 31, 2010, $12,680,000 of outstanding general obligation bonds and notes are considered
defeased.
Component Unit Long-term Debt
Information relating to the outstanding long-term debt is as follows:
Housing Authority
Balance
Date of Interest Maturity Original Outstanding
Type issue rate date amount June 30, 2010
First mortgage notes payable:
12/1/1978 6.97% 1/1/2019 113,385$
6.71%71,311
Wisconsin Housing Partnership Loan
7/15/1988 0.00% 1/1/2018 14,710 14,710
8/1/1990 0.00% 9/1/2010 15,000 15,000
Anchor Bank -
Affordable Housing Program 6/1/2007 0.00% 6/1/2037 500,000 500,000
714,406$
Annual principal maturities of the outstanding debt on June 30, 2010 are detailed below:
Year ending June 30,
2011 13,904$
2012 14,887
2013 15,941
2014 17,069
2015 18,276
Thereafter 634,329
714,406$
54
Redevelopment Authority
Type Date of Issue Interest rate Maturity date
Original
amount
Balance
outstanding
12/31/10
Taxable redevelopment
lease revenue bonds 6/20/2006 6.25% 6/20/2031 6,360,000$ 6,360,000$
Less deferred charges (182,308)
6,177,692$
Annual principal maturities of the outstanding debt on December 31, 2010 are detailed below:
-$
6,360,000
6,360,000$
Year ending December 31,
2011-2025
Thereafter
The Authority has approved the issuance of Wisconsin Redevelopment Revenue Bonds (WRRB) for the
benefit of private business enterprises. WRRBs are secured by mortgages or revenue agreements on
the associated projects and do not constitute indebtedness of the Authority or City. Accordingly, the
bonds are not reported as liabilities in the accompanying financial statements.
As of December 31, 2010, there were two series of Wisconsin Redevelopment Revenue Bonds
outstanding with an aggregate principal amount payable of $6,105,000.
55
7. Interfund Balances and Activity
Interfund receivables and payables at December 31, 2010 were as follows:
Net Due to Other
Due From Due To Funds on Statement
Other Funds Other Funds of Activities
General fund 6,810,881$ 155$ 6,810,726$
Capital projects funds - 3,205,104 (3,205,104)
Special revenue funds - 548,298 (548,298)
Total governmental activities 6,810,881 3,753,557 3,057,324
Water utility fund 516,723 43,953 472,770
Sewer utility fund 6,719 502,449 (495,730)
Storm water utility 15,609 354,006 (338,397)
Other enterprise funds 157,433 2,853,400 (2,695,967)
Total business-type activities 696,484 3,753,808 (3,057,324)
Totals 7,507,365$ 7,507,365$ -$
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.
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:
Business-type
Transfers from General Debt Service Other Activities Total
Governmental activities:
Debt service fund 9,190,881$ -$ -$ 237,000$ 9,427,881$
Other funds 309,317 - 279,091 - 588,408
Total transfers to:9,500,198$ -$ 279,091$ 237,000$ 10,016,289$
Transfer to
Governmental Activities
56
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 are eligible to participate in the WRS. Covered employees in
the General category are required by statute to contribute 6.2% of their salary (3.2% for Executives and
Elected Officials, 5.5% for Protective Occupations with Social Security, and 3.9% 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, 2010 was $31.7
million; the employer’s total payroll was $32.9 million. The total required contribution for the year ended
December 31, 2010 was $4.7 million, which consisted of $1.7 million, or 5.5% of covered payroll from the
employer and $3.0 million or 9.5% of covered payroll from employees. The required contribution for
employees for the year ended December 31, 2010 was financed by the City. Total contributions for the
years ending December 31, 2009 and 2008 were $4.4 million, for both years, 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, WI 53707-7931.
2. Unfunded Pension Liability
The City's unfunded pension liability of $9.8 million on December 31, 2010 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 30 years of the schedule.
57
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
2010 was $95,424. The total estimated future cost to the City of this plan as of December 31,
2010 is not determinable.
B. Health Care
Plan Description - The City provides health care insurance coverage for employees who retire
until they reach the age of 65. The retired employee contributes 100% of the premium for family
coverage or 100% of the premium for single coverage. There are 573 active and 60 retired
employees in the plan.
Annual OPEB Cost and Net OPEB Obligation - The City’s annual other post-employment benefit
(OPEB) cost (expense) is calculated based on the annual required contribution (ARC), and the
amount actuarially determined in accordance with the parameters of GASB Statement 45. The
ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal
cost each year and amortize any unfunded actuarial liabilities over a period not to exceed thirty
years. The following table shows the components of the City’s annual OPEB cost for the year,
the amount actually contributed to the plan, and changes in the City’s net OPEB obligation.
Amount
1,237,513$
59,688
(82,975)
1,214,226
(415,377)
798,849
1,492,192
2,291,041$
Change in net OPEB obligation
OPEB obligation - January 1
OPEB obligation - December 31
Component
Annual required contribution
Interest on net OPEB
Adjustment to annual required contribution
Annual OPEB cost (expense)
Contributions made
The annual required contribution for the current year was determined as part of the December 31,
2010 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 9.3% and ultimate
rate at 4.7%.
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, 2010 is 30 years, and the remaining
amount is $10,867,464.
58
Trend Information - The City’s annual OPEB cost, the percentage of the annual OPEB cost
contributed to the plan, and the net OPEB obligation for 2010 is as follows:
Percentage
Annual of Annual
Year OPEB OPEB Cost Net OPEB
Ended Cost Contributed Obligation
12/31/2008 989,777$ 23.07% 761,466$
12/31/2009 989,777 26.17% 1,492,192
12/31/2010 1,214,226 34.21% 2,291,041
Funded Status and Funding Progress - As of December 31, 2010, the most recent actuarial
valuation date, the City’s unfunded actuarial accrued liability (UAAL) was $10,867,464.
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:
initial - 9.3%
ultimate - 4.7%
Medical trend rate
Amortization method Level
Remaining amortization period 30 years
Actuarial assumptions -
Investment rate of return 4.0%
Valuation date December 31, 2010
Actuarial cost method Unit Credit
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.
59
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 $75,000
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 $2,777,845
at December 31, 2010 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, 2010, 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 2010 were:
Current year claims
Year Beginning of fiscal And changes in Balance at fiscal
Ended Year liability Estimates Claim payments Year end
12/31/2010 $800,000 $8,516,760 $8,516,760 $800,000
12/31/2009 $800,000 $8,546,095 $8,546,095 $800,000
7. New GASB Standards
In 2010, the City implemented the following GASB statements:
GASB Statement No. 54, “Fund Balance Reporting and Governmental Fund type Definitions”. The
objective of the Statement is to enhance the usefulness of fund balance information by providing clearer
fund balance classifications that can be more consistently applied, and by clarifying the existing
governmental fund type definitions. The categories of fund balance presented in the City’s financial
statements have changed as a result of implementing this Statement.
GASB Statement No. 55, “The Hierarchy of Generally Accepted Accounting Principles by State and Local
Governments”. The objective of the Statement is to incorporate the GAAP for state and local
governments into the GASB’s authoritative literature. There was no change in current practice as a result
of implementing this Statement.
60
GASB Statement 56, “Collection of Accounting and Financial Reporting Guidance Contained in the
AICPA Statements on Auditing Standards.” The objective of this Statement is to incorporate into the
GASB’s authoritative literature certain accounting and financial reported guidance presented in the
American Institute of Certified Public Accountants’ Statements on Auditing Standards. This Statement
addresses three issue not included in the authoritative literature that establishes accounting principles –
related party transactions, going concern considerations, and subsequent events. This Statement does
not establish new accounting standards but rather incorporate the existing guidance (to the extent
appropriate in a governmental environment) into the GASB standards.
8. Subsequent events
During 2011, the City issued the followings debts:
A. On March 16, 2011, the City issued $8,490,000 of general obligation refunding bonds with
principal amounts due annually through December 2022. Interest rates on the issue range from
2.0% to 3.5%. This issue advance refunds general obligation bond issues from 2003.
B. On March 16, 2011, the City issued $6,350,000 of taxable general obligation refunding bonds
with principal amounts due annually through March 2023. Interest rates on the issue range from
2.0% to 4.7%. This issue advance refunds a general obligation bond issue from 2003 and
general obligation promissory notes issued from 2002 to 2004.
9. Restatement of beginning net assets
During the year ended June 30, 2010, the Housing Authority determined that the financial statements in
the prior year improperly excluded a note receivable and the related accrued interest due from a non-
profit organization. The Housing Authority also determined that the prior year financial statements
improperly excluded partial payback of a GAP loan to an affiliate organization as well as a receivable due
from an affiliated organization. Accordingly, the Housing Authority has restated prior year financial
statements by $1,134,931 to record the previously unrecorded items.
The effect of the restatements on the net assets is as follows:
Invested in
Capital Assets
Net of Related
Debt Restricted Unrestricted Total
Net Assets, June 30, 2009, as previously stated 7,570,621$ 485,579$ 3,853,883$ 11,910,083$
Accrual of interest receivable - - 712,053 712,053
Note receivable - Cumberland Court - - 389,536 389,536
Receivable due from affiliate - - 182,772 182,772
GAP loan payback - - (149,430) (149,430)
Net Assets, June 30, 2009, restated 7,570,621$ 485,579$ 4,988,814$ 13,045,014$
The effect of these restatements on the change in net assets for the year ended June 30, 2009 has not
been determined.
61
CITY OF OSHKOSH, WISCONSIN
NOTES TO FINANCIAL STATEMENTS, CONTINUED
December 31, 2010
10. Segment information
Grand Algoma/Church Oshkosh Other Storm
Opera Deltox Parking Transit Redevelopment Industrial Golf TIF Water Sewer Water
House Complex Utility Utility Project Park Course Districts Utility Utility Utility Total
Operating revenues 389$ -$ 166,430$ 871,564$ 50,297$ 10,500$ 557,244$ 83,829$ 11,359,012$ 9,002,688$ 3,724,446$ 25,826,399$
Operating expenses before
depreciation/amortization 71,828 - 72,823 4,426,220 901,883 35,927 533,033 984,242 6,365,712 5,190,326 1,743,456 20,325,450
Depreciation/amortization 53,234 - 65,015 364,223 157,704 - 26,336 - 3,155,448 2,270,591 258,505 6,351,056
Operating income (loss)(124,673) - 28,592 (3,918,879) (1,009,290) (25,427) (2,125) (900,413) 1,837,852 1,541,771 1,722,485 (850,107)
Capital contributions - - 160,303 2,125,794 - - - - 326,657 368,316 49,320 3,030,390
Tax revenues 66,399 - - 113,176 1,148,171 - - 6,820,711 - - - 8,148,457
Intergovernmental revenues 500,000 - - 3,945,601 - - - 274,883 - - - 4,720,484
Net income (loss)441,726 - 17,816 129,757 (30,325) (93,192) (3,573) 4,272,418 144,164 569,217 1,029,569 6,477,577
Net property, plant and equipment additions 1,282,496 - - 1,998,481 3,434 - 10,863 341,187 4,788,253 4,575,993 10,280,508 23,281,215
Net working capital (negative)(1,216,396) 579,433 (134,709) 477,222 (471,738) (796,107) (696,456) 14,491,439 4,424,090 2,393,297 4,146,944 23,197,019
Total assets 4,073,264 793,770 2,802,557 5,577,446 9,855,458 7,128,717 1,260,693 46,680,558 100,009,247 81,327,741 50,600,687 310,110,138
Restricted assets - - - - 343,147 - - - 4,704,519 3,985,645 17,739,266 26,772,577
Net assets
Invested in capital assets, net of related debt 4,007,064 214,337 2,561,173 3,591,300 7,844,056 3,303,472 1,221,059 - 39,867,464 45,480,881 8,429,665 116,520,471
Unrestricted (deficit)(1,216,396) 579,433 (87,886) 548,970 (314,698) (253,710) (691,744) 11,949,723 8,234,005 5,375,753 5,622,531 29,745,981
62
REQUIRED SUPPLEMENTAL INFORMATION
CITY OF OSHKOSH
Oshkosh, Wisconson
Schedule of Other Post Employement Benefit Plan Information
December 31, 2010
(4)
(2)Unfunded UAAL
Actuarial Actuarial as a
Actuarial (1)Accrued (3)Accrued Percentage
Valuation Actuarial Liability Funded Liability (5)of Covered
Date Value of (AAL) Entry Ratio (UAAL)Covered Payroll
December 31,Assets Age Normal (1) / (2)(2) - (1)Payroll (4) / (5)
2007 -$ 9,534,561$ 0.00%9,534,561$ N/A N/A
2010 - 10,867,464 0.00%10,867,464 N/A N/A
Year Ended
December 31,
2008
2009
2010
The City implemented GASB Statement No. 45 for the fiscal year beginning January 1, 2008. Information for prior years
is not available.
Schedule of Funding Progress
Schedule of Employer Contributions
Employer Contributions
Annual Required Contribution
(ARC) Percentage Contributed
228,311$ 989,777$ 23.1%
415,377 1,237,513 33.6%
259,051 989,777 26.2%
63
OTHER SUPPLEMENTAL INFORMATION
Total
Special Capital Nonmajor
Revenue Projects Permanent Governmental
Funds Funds Fund Funds
ASSETS
Cash and investments 3,609,602$ 10,801,173$ 3,629,915$ 18,040,690$
Receivables
Taxes 5,520,000 - - 5,520,000
Special assessment - 5,331,796 - 5,331,796
Accounts 501,408 3,032,579 239 3,534,226
Due from other funds - - - -
Due from other governments 529,619 - - 529,619
Notes receivable 3,347,240 - - 3,347,240
TOTAL ASSETS 13,507,869$ 19,165,548$ 3,630,154$ 36,303,571$
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable 378,429$ 2,499,095$ 38,568$ 2,916,092$
Deferred revenues 5,590,000 3,652,032 - 9,242,032
Deposits 10,000 1,164,892 - 1,174,892
Due to other funds 548,298 3,205,104 - 3,753,402
Due to other governments 3,347,240 - - 3,347,240
Total Liabilites 9,873,967 10,521,123 38,568 20,433,658
Fund Balances
Resticted for
Construction of assets - 6,161,672 - 6,161,672
Special purposes 2,225,449 - - 2,225,449
Trust agreements - - 3,591,586 3,591,586
Committed to
Special purposes 1,440,897 - - 1,440,897
Assigned to
Construction of assets - 4,378,911 - 4,378,911
Unassigned (32,444) (1,896,158) - (1,928,602)
Total Fund Balances 3,633,902 8,644,425 3,591,586 15,869,913
TOTAL LIABILITIES AND
FUND BALANCES 13,507,869$ 19,165,548$ 3,630,154$ 36,303,571$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Balance Sheet
Nonmajor Governmental Funds
December 31, 2010
64
Total
Special Capital Nonmajor
Revenue Project Permanent Governmental
Funds Funds Fund Funds
Revenues
Taxes 6,159,150$ -$ -$ 6,159,150$
Special assessments - 3,560,361 - 3,560,361
Intergovernmental 2,205,889 5,195 - 2,211,084
Licenses and permits 117,976 - - 117,976
Public charges for services 1,957,164 - - 1,957,164
Miscellaneous 1,191,288 27,538 186,053 1,404,879
Total Revenues 11,631,467 3,593,094 186,053 15,410,614
Expenditures
Current
Public safety 113,415 - - 113,415
Public works 1,883,044 - - 1,883,044
Health and welfare 1,013,821 - - 1,013,821
Parks and recreation 5,552,537 - 73,399 5,625,936
Community development 1,806,170 1,308,546 - 3,114,716
Capital outlay 711,090 8,711,095 - 9,422,185
Total Expenditures 11,080,077 10,019,641 73,399 21,173,117
Excess of Revenues Over (Under)
Expenditures 551,390 (6,426,547) 112,654 (5,762,503)
Other Financing Sources (Uses)
Long-term debt issued 33,300 11,810,700 - 11,844,000
Transfers in 170,091 109,000 - 279,091
Transfers out (231,408) (357,000) - (588,408)
Total Other Financing Sources
(Uses)(28,017) 11,562,700 - 11,534,683
Net Change in Fund Balances 523,373 5,136,153 112,654 5,772,180
Fund Balances - January 1 3,110,529 3,508,272 3,478,932 10,097,733
Fund Balances - December 31 3,633,902$ 8,644,425$ 3,591,586$ 15,869,913$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended December 31, 2010
65
Oshkosh Other
Grand Opera Algoma/Deltox Parking Redevelopment Industrial Golf TIF
House Church Complex Utility Project Park Course Districts Total
ASSETS
Current Assets
Cash and investments -$ 578,251$ 1,182$ 10,228$ -$ -$ 800$ 16,966,240$ 17,556,701$
Receivables
Accounts - - - 1,760 126,372 - 4,964 88,459 221,555
Taxes 66,200 - - - - - - 7,068,892 7,135,092
Due from other funds - - - - - 157,433 - - 157,433
Total Current Assets 66,200 578,251 1,182 11,988 126,372 157,433 5,764 24,123,591 25,070,781
Noncurrent Assets
Restricted assets - - - - 343,147 - - - 343,147
Capital Assets
Land and construction in progress 51,898 - 214,337 1,851,549 3,217,183 6,711,609 826,541 22,556,967 35,430,084
Other capital assets, net of accumulated
depreciation 3,955,166 - - 939,020 6,165,185 - 428,388 - 11,487,759
Total Capital Assets, Net 4,007,064 - 214,337 2,790,569 9,382,368 6,711,609 1,254,929 22,556,967 46,917,843
Notes receivable - - - - - 259,675 - - 259,675
Deferred charges and deposits - - - - 3,571 - - - 3,571
Total Noncurrent Assets - - - - 3,571 259,675 - - 263,246
TOTAL ASSETS 4,073,264 578,251 215,519 2,802,557 9,855,458 7,128,717 1,260,693 46,680,558 72,595,017
LIABILITIES
Current Liabilities
Accounts payable 10,025 - - 8,046 129,233 219 6,530 10,860 164,913
Accrued expenses - - - 1,583 18,206 96,887 108 356,182 472,966
Deposits - - - - 5,000 - - 1,000 6,000
Due to other funds 1,206,371 - - 90,245 292,202 573,712 690,870 - 2,853,400
Unearned revenues 66,200 - - - - - - 7,094,892 7,161,092
Current portion of long-term obligations - - - 46,823 153,469 282,722 4,712 2,169,218 2,656,944
Total Current Liabilities 1,282,596 - - 146,697 598,110 953,540 702,220 9,632,152 13,315,315
Noncurrent Liabilities
Noncurrent portion of long-term obligations - - - 182,573 1,727,990 3,125,415 29,158 25,098,683 30,163,819
Total Noncurrent Liabilities - - - 182,573 1,727,990 3,125,415 29,158 25,098,683 30,163,819
TOTAL LIABILITIES 1,282,596 - - 329,270 2,326,100 4,078,955 731,378 34,730,835 43,479,134
NET ASSETS
Invested in capital assets, net of related debt 4,007,064 - 214,337 2,561,173 7,844,056 3,303,472 1,221,059 - 19,151,161
Unrestricted (deficit)(1,216,396) 578,251 1,182 (87,886) (314,698) (253,710) (691,744) 11,949,723 9,964,722
TOTAL NET ASSETS 2,790,668$ 578,251$ 215,519$ 2,473,287$ 7,529,358$ 3,049,762$ 529,315$ 11,949,723$ 29,115,883$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Net Assets
Nonmajor Other Proprietary Funds
December 31, 2010
66
Oshkosh Other
Grand Opera Algoma/Deltox Parking Redevelopment Industrial Golf TIF
House Church Complex Utility Project Park Course Districts Total
Operating Revenues
Fines, forfeitures and penalties -$ -$ -$ 44,593$ -$ -$ -$ -$ 44,593$
Public charges for services - - - 110,494 8,297 10,500 557,244 - 686,535
Other revenues 389 - - 11,343 42,000 - - 83,829 137,561
Total Operating Revenues 389 - - 166,430 50,297 10,500 557,244 83,829 868,689
Operating Expenses
Operating and maintenance 71,828 - - 72,823 901,883 35,927 533,033 984,242 2,599,736
Depreciation and amortization 53,234 - - 65,015 157,704 - 26,336 - 302,289
Total Operating Expenses 125,062 - - 137,838 1,059,587 35,927 559,369 984,242 2,902,025
Operating Income (Loss)(124,673) - - 28,592 (1,009,290) (25,427) (2,125) (900,413) (2,033,336)
Nonoperating Revenues (Expenses)
Taxes 66,399 - - - 1,148,171 - - 6,820,711 8,035,281
Intergovernmental revenues 500,000 - - - - - - 274,883 774,883
Interest on investments - - - - 3,537 30 - - 3,567
Debt discount amortization - - - - (7,143) - - - (7,143)
Gain (loss) on disposal of capital assets - - - - - 123,567 - - 123,567
Interest expense - - - (10,776) (165,600) (191,362) (1,448) (1,922,763) (2,291,949)
Total Nonoperating Revenues (Expenses)566,399 - - (10,776) 978,965 (67,765) (1,448) 5,172,831 6,638,206
Income (loss) before transfers and
contributed capital 441,726 - - 17,816 (30,325) (93,192) (3,573) 4,272,418 4,604,870
Transfers in 237,000 - - - - - - - 237,000
Contributed capital - - - 160,303 - - - - 160,303
Change in Net Assets 678,726 - - 178,119 (30,325) (93,192) (3,573) 4,272,418 5,002,173
Net Assets - January 1 2,111,942 578,251 215,519 2,295,168 7,559,683 3,142,954 532,888 7,677,305 24,113,710
Net Assets - December 31 2,790,668$ 578,251$ 215,519$ 2,473,287$ 7,529,358$ 3,049,762$ 529,315$ 11,949,723$ 29,115,883$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets
Nonmajor Other Proprietary Funds
Year Ended December 31, 2010
67
Total
Oshkosh Other Nonmajor
Grand Opera Algoma/Deltox Parking Redevelopment Industrial Golf TIF Proprietary
House Church Complex Utility Project Park Course Districts Funds
Cash Flows from Operating Activities
Cash received from customers 389$ -$ -$ 165,758$ 92,364$ (146,633)$ 562,329$ (146,878)$ 527,329$
Cash payments to suppliers and employees 478,708 - - (120,247) (627,551) 413,760 (545,467) (726,414) (1,127,211)
Net Cash Provided (Used) by Operating
Activities 479,097 - - 45,511 (535,187) 267,127 16,862 (873,292) (599,882)
Cash Flows from Non-Capital Financing Activities
Property taxes received 66,399 - - - 1,148,171 - - 6,820,711 8,035,281
Transfer from other funds 237,000 - - - - - - - 237,000
Operating grants received 500,000 - - - - - - 274,883 774,883
Net Cash Provided by Non-Capital Financing
Activities 803,399 - - - 1,148,171 - - 7,095,594 9,047,164
Cash Flows from Capital and Related Financing
Activities
Acquisition of capital assets (1,282,496) - - - (3,434) - (10,863) (341,187) (1,637,980)
Principal payments on long-term debt - - - (75,500) (2,165,541) (1,287,498) (4,537) (10,380,165) (13,913,241)
Interest payments on long-term debt - - - (10,103) (237,546) (235,086) (1,462) (1,801,499) (2,285,696)
Proceeds from long-term debt - - - 25,000 1,790,000 1,065,000 - 8,876,068 11,756,068
Proceeds from sale of assets - - - - - 190,427 - - 190,427
Net Cash Provided (Used) by Capital and Related
Financing Activities (1,282,496) - - (60,603) (616,521) (267,157) (16,862) (3,646,783) (5,890,422)
Cash Flows from Investing Activities
Investment income received - - - - 3,537 30 - - 3,567
Net Cash Provided by Investing Activities - - - - 3,537 30 - - 3,567
Net Increase (Decrease) in Cash and Cash Equivalents - - - (15,092) - - - 2,575,519 2,560,427
Cash and Cash Equivalents - January 1 - 578,251 1,182 25,320 343,147 - 800 14,390,721 15,339,421
Cash and Cash Equivalents - December 31 -$ 578,251$ 1,182$ 10,228$ 343,147$ -$ 800$ 16,966,240$ 17,899,848$
Reconciliation of Operating Income (Loss) to Net
Cash Provided by Operating Activities:
Operating income (loss)(124,673)$ -$ -$ 28,592$ (1,009,290)$ (25,427)$ (2,125)$ (900,413)$ (2,033,336)$
Adjustments to reconcile operating income to
net cash provided (used) by operating activities:
Depreciation 53,234 - - 65,015 157,704 - 26,336 - 302,289
Changes in assets and liabilities
Accounts receivable - - - (922) 42,067 300 5,085 (230,707) (184,177)
Due from other funds - - - 250 - (157,433) - - (157,183)
Accounts payable and accrued expenses 550,536 - - (739) 15,140 3 2 9,649 574,591
Due to other funds - - - (46,685) 259,192 449,684 (12,436) - 649,755
Unearned revenues - - - - - - - 248,179 248,179
Net Cash Provided (Used) by Operating Activities 479,097$ -$ -$ 45,511$ (535,187)$ 267,127$ 16,862$ (873,292)$ (599,882)$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Cash Flows
Nonmajor Other Proprietary Funds
Year Ended December 31, 2010
68
Hospital Police Fire Workman's
Insurance Pension Pension Compensation Total
ASSETS
Current Assets
Cash and investments 3,568,404$ 775,079$ 312,031$ 355,148$ 5,010,662$
Receivables
Taxes - - - 20,365 20,365
Accounts 18,441 - - 11,087 29,528
TOTAL ASSETS 3,586,845 775,079 312,031 386,600 5,060,555
LIABILITIES
Current Liabilities
Accrued expenses 809,000 - - 68 809,068
Unearned revenues - - - 20,365 20,365
TOTAL LIABILITIES 809,000 - - 20,433 829,433
NET ASSETS
Unrestricted 2,777,845 775,079 312,031 366,167 4,231,122
TOTAL NET ASSETS 2,777,845$ 775,079$ 312,031$ 366,167$ 4,231,122$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Net Assets
Internal Service Funds
December 31, 2010
69
Hospital Police Fire Workman's
Insurance Pension Pension Compensation Total
Operating Revenues
Licenses and permits -$ 88$ -$ -$ 88$
Fines, forfeitures and penalties - 44,668 - - 44,668
Intergovernmental charges for services 7,348,390 - 56,000 44,953 7,449,343
Other revenues 1,319,168 5,164 1,977 306,140 1,632,449
Total Operating Revenues 8,667,558 49,920 57,977 351,093 9,126,548
Operating Expenses
Claims and administration 8,516,760 55,859 39,565 484,014 9,096,198
Total Operating Expenses 8,516,760 55,859 39,565 484,014 9,096,198
Operating Income (loss)150,798 (5,939) 18,412 (132,921) 30,350
Nonoperating Revenues
Taxes - - - 22,400 22,400
Change in Net Assets 150,798 (5,939) 18,412 (110,521) 52,750
Net Assets - January 1 2,627,047 781,018 293,619 476,688 4,178,372
Net Assets - December 31 2,777,845$ 775,079$ 312,031$ 366,167$ 4,231,122$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets
Internal Service Funds
Year Ended December 31, 2010
70
Hospital Police Fire Workman's
Insurance Pension Pension Compensation Total
Cash Flows from Operating Activities
Cash received from customers 8,649,117$ 52,839$ 57,977$ 351,522$ 9,111,455$
Cash payments to suppliers and employees (8,562,828) (55,859) (39,565) (484,196) (9,142,448)
Net Cash Provided (Used) by Operating
Activities 86,289 (3,020) 18,412 (132,674) (30,993)
Cash Flows from Non-Capital Financing Activities
Property taxes received - - - 22,400 22,400
Net Cash Provided by Non-Capital Financing
Activities - - - 22,400 22,400
Net Increase (Decrease) in Cash and Cash Equivalents 86,289 (3,020) 18,412 (110,274) (8,593)
Cash and Cash Equivalents - January 1 3,482,115 778,099 293,619 465,422 5,019,255
Cash and Cash Equivalents - December 31 3,568,404$ 775,079$ 312,031$ 355,148$ 5,010,662$
Reconciliation of Operating Income (Loss) to Net
Cash Provided (Used) by Operating Activities:
Operating income (loss)150,798$ (5,939)$ 18,412$ (132,921)$ 30,350$
Adjustments to reconcile operating income to
net cash provided (used) by operating activities:
Changes in assets and liabilities
Accounts receivable (18,441) 2,919 - 429 (15,093)
Accounts payable and accrued expenses (46,068) - - (182) (46,250)
Net Cash Provided (Used) by Operating Activities 86,289$ (3,020)$ 18,412$ (132,674)$ (30,993)$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Statement of Cash Flows
Internal Service Funds
Year Ended December 31, 2010
71
Total
Committee Business Community Other Nonmajor
on Improvement Street Health Development Special Special Revenue
Aging District Recycling Lighting Library Museum Cemetery Fund Block Grant Revenue Funds
ASSETS
Cash and investments 191,484$ 114,312$ 940,038$ 450,421$ 224,076$ 617,197$ -$ 110,393$ -$ 961,681$ 3,609,602$
Receivables
Taxes 185,300 - 404,700 1,013,000 2,460,000 869,000 276,400 240,200 - 71,400 5,520,000
Accounts 2,911 - 3,209 - 292,088 4,245 11,086 780 - 187,089 501,408
Due from other governments - - - - - - - - 529,619 - 529,619
Notes receivable - - - - - - - - 3,347,240 - 3,347,240
TOTAL ASSETS 379,695$ 114,312$ 1,347,947$ 1,463,421$ 2,976,164$ 1,490,442$ 287,486$ 351,373$ 3,876,859$ 1,220,170$ 13,507,869$
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable 11,009$ 15,370$ 6,587$ 95,850$ 170,687$ 2,442$ 9,103$ 1,228$ 15,748$ 50,405$ 378,429$
Deferred revenues 185,300 - 404,700 1,013,000 2,460,000 869,000 276,400 240,200 - 141,400 5,590,000
Deposits - - - - - - - - - 10,000 10,000
Due to other funds - - - - - - 34,427 - 513,871 - 548,298
Due to other governments - - - - - - - - 3,347,240 - 3,347,240
Total Liabilites 196,309 15,370 411,287 1,108,850 2,630,687 871,442 319,930 241,428 3,876,859 201,805 9,873,967
Fund Balances
Restricted for
Special purposes - 98,942 936,660 - 345,477 - - 109,945 - 734,425 2,225,449
Committed to
Special purposes 183,386 - - 354,571 - 619,000 - - - 283,940 1,440,897
Unassigned - - - - - - (32,444) - - - (32,444)
Total Fund Balances (Deficit)183,386 98,942 936,660 354,571 345,477 619,000 (32,444) 109,945 - 1,018,365 3,633,902
TOTAL LIABILITIES AND
FUND BALANCES 379,695$ 114,312$ 1,347,947$ 1,463,421$ 2,976,164$ 1,490,442$ 287,486$ 351,373$ 3,876,859$ 1,220,170$ 13,507,869$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Balance Sheet
Nonmajor Special Revenue Funds
December 31, 2010
72
Total
Committee Business Community Other Nonmajor
on Improvement Street Health Development Special Special Revenue
Aging District Recycling Lighting Library Museum Cemetery Fund Block Grant Revenue Funds
Revenues
Taxes 367,700$ 152,350$ 478,200$ 1,150,100$ 2,492,500$ 883,100$ 210,300$ 352,100$ -$ 72,800$ 6,159,150$
Intergovernmental 76,637 - 340,824 - 33,224 - - - 1,080,423 674,781 2,205,889
Licenses and permits - - - - - - - - - 117,976 117,976
Public charges for services - - - - 1,291,321 61,884 108,371 - 85,065 410,523 1,957,164
Miscellaneous 111,862 4,917 272,903 - 12,814 79,792 26,708 468,279 - 214,013 1,191,288
Total Revenues 556,199 157,267 1,091,927 1,150,100 3,829,859 1,024,776 345,379 820,379 1,165,488 1,490,093 11,631,467
Expenditures
Current
Public safety - - - - - - - - - 113,415 113,415
Public works - - 788,066 1,094,978 - - - - - - 1,883,044
Health and welfare - - - - - - - 801,762 - 212,059 1,013,821
Parks and recreation - - - - 3,528,445 1,053,911 428,210 - - 541,971 5,552,537
Community development 427,413 159,637 - - - - - - 1,106,954 112,166 1,806,170
Capital outlay 20 28,122 153,017 - 58,987 7,715 - - 58,534 404,695 711,090
Total Expenditures 427,433 187,759 941,083 1,094,978 3,587,432 1,061,626 428,210 801,762 1,165,488 1,384,306 11,080,077
Excess of Revenues Over (Under)
Expenditures 128,766 (30,492) 150,844 55,122 242,427 (36,850) (82,831) 18,617 - 105,787 551,390
Other Financing Sources (Uses)
Long-term debt issued - - - - 33,300 - - - - - 33,300
Transfer in - 50,000 - - - - 20,000 97,967 - 2,124 170,091
Transfer out - - - - (59,000) - - - - (172,408) (231,408)
Total Other Financing Sources
(Uses)- 50,000 - - (25,700) - 20,000 97,967 - (170,284) (28,017)
Net Change in Fund Balances 128,766 19,508 150,844 55,122 216,727 (36,850) (62,831) 116,584 - (64,497) 523,373
Fund Balances (Deficit) - January 1 54,620 79,434 785,816 299,449 128,750 655,850 30,387 (6,639) - 1,082,862 3,110,529
Fund Balances (Deficit) - December 31 183,386$ 98,942$ 936,660$ 354,571$ 345,477$ 619,000$ (32,444)$ 109,945$ -$ 1,018,365$ 3,633,902$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Special Revenue Funds
Year Ended December 31, 2010
73
Park Total
Other Improvement Museum Nonmajor
Public Public Works and Senior Phoenix Capital
Works Funds Equipment Acquisition Center Project Project Funds
ASSETS
Cash and investments 4,392,056$ 136,844$ 5,482,170$ 605,916$ 176,974$ 7,213$ 10,801,173$
Receivables
Special assessment - 5,331,796 - - - - 5,331,796
Accounts 300 3,032,279 - - - - 3,032,579
Due from other funds - - - - - - -
TOTAL ASSETS 4,392,356$ 8,500,919$ 5,482,170$ 605,916$ 176,974$ 7,213$ 19,165,548$
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable 9,945$ 2,378,549$ 110,601$ -$ -$ -$ 2,499,095$
Deferred revenues - 3,652,032 - - - - 3,652,032
Deposits 3,500 1,161,392 - - - - 1,164,892
Due to other funds - 3,205,104 - - - - 3,205,104
Total Liabilites 13,445 10,397,077 110,601 - - - 10,521,123
Fund Balances
Restricted for
Construction of assets - - 5,371,569 605,916 176,974 7,213 6,161,672
Assigned to
Construction of assets 4,378,911 - - - - - 4,378,911
Unassigned - (1,896,158) - - - - (1,896,158)
Total Fund Balances 4,378,911 (1,896,158) 5,371,569 605,916 176,974 7,213 8,644,425
TOTAL LIABILITIES AND
FUND BALANCES 4,392,356$ 8,500,919$ 5,482,170$ 605,916$ 176,974$ 7,213$ 19,165,548$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Balance Sheet
Nonmajor Capital Project Funds
December 31, 2010
74
Park Total
Other Improvement Museum Nonmajor
Public Public Works and Senior Phoenix Capital Project
Works Funds Equipment Acquisition Center Project Funds
Revenues
Special assessments 2,527$ 3,554,314$ -$ 3,520$ -$ -$ 3,560,361$
Intergovernmental 5,195 - - - - - 5,195
Miscellaneous 8,002 - - 6,735 12,801 - 27,538
Total Revenues 15,724 3,554,314 - 10,255 12,801 - 3,593,094
Expenditures
Current
Community development 280,317 59,572 954,554 6,679 4,515 2,909 1,308,546
Capital outlay 1,991,121 3,538,652 3,118,514 62,808 - - 8,711,095
Total Expenditures 2,271,438 3,598,224 4,073,068 69,487 4,515 2,909 10,019,641
Excess of Revenues Over (Under)
Expenditures (2,255,714) (43,910) (4,073,068) (59,232) 8,286 (2,909) (6,426,547)
Other Financing Sources (Uses)
Long-term debt issued 6,668,257 - 4,912,443 230,000 - - 11,810,700
Transfer in - - 109,000 - - - 109,000
Transfer out - - (337,000) (20,000) - - (357,000)
Total Other Financing Sources
(Uses)6,668,257 - 4,684,443 210,000 - - 11,562,700
Net Changes in Fund Balances 4,412,543 (43,910) 611,375 150,768 8,286 (2,909) 5,136,153
Fund Balances (Deficit) - January 1 (33,632) (1,852,248) 4,760,194 455,148 168,688 10,122 3,508,272
Fund Balances (Deficit) - December 31 4,378,911$ (1,896,158)$ 5,371,569$ 605,916$ 176,974$ 7,213$ 8,644,425$
CITY OF OSHKOSH
Oshkosh, Wisconsin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Capital Project Funds
Year Ended December 31, 2010
75
S T A T I S T I C A L S E C T I O N
Exhibit A-1
CITY OF OSHKOSH, WISCONSIN
SUMMARY OF CASH & INVESTMENTS
As of December 31, 2010 (1 OF 2)
CASH INVESTMENTS
2010 AT COST
OPERATING FUNDS
General Fund 44,874,961.25 15,840,984.57
Treasurer's Working Fund 3,000.00 0.00
Other Petty Cash Funds 5,385.00 0.00
TRUST FUNDS
Police Pension 23,761.07 751,317.72
Firemen's Pension 30,981.10 281,049.53
Arps Trust 717.43 54,000.00
Behncke Library Trust 874.29 204,000.00
Behncke Museum Trust 7,200.69 137,037.84
William E. Bray Museum Trust 176.90 11,538.46
Cemetery Perpetual Care 1,219.77 541,881.58
Leander Choate 370.48 24,913.78
Clute 58.83 540.00
Amy Davies Library Fund 758.06 89,000.00
Durow Trust 543.24 5,377.51
Fisk-Gallup 2,821.52 0.00
Gould 0.00 3,738.54
Gruenwald Trust 570.91 2,000.00
Gruetzmacher Library Trust 759.47 8,000.00
Abbey Harris Library 58.23 86,794.25
Heyman 34.10 33,700.00
Hicks 2,025.94 178,154.50
Hilton III 127.87 36,000.00
Hilton Library & Museum 0.00 7,147.96
Hilton Special Library 361.20 13,650.00
Hoxtel Library Trust 524.76 9,000.00
Huhn Animal Shelter Trust 0.00 4,356.87
Hume 43.31 1,200.00
James Trust 493.17 5,000.00
John Kelsh Library Memorial Fund 697.82 2,000.00
Genevieve Kenny Library Trust 487.24 8,000.00
Kitz Museum Memorial Trust 1,757.80 27,605.39
Kitz Directors Trust 8,227.06 244,055.15
Kitzman Library Trust, Hazel 0.00 78,802.63
Marie Lehnigk Library Fund 81.68 7,000.00
Malnar Children's Program Trust 428.11 20,115.50
Maxwell-Crawford 191.67 7,800.00
Museum Endowment 7,071.95 133,279.56
John V. Nichols Digital Library Trust 465.40 51,000.00
76
Exhibit A-1
CASH INVESTMENTS
2010 AT COST
(2 OF 2)
Pine 795.19 5,000.00
Pittel 59.72 240.00
Public Library Memorial Fund 17,791.29 322,070.95
Rasmussen Library, Elizabeth 0.00 75,902.17
Rasmussen Library, Mable 1,145.68 29,286.32
Roberts 105.48 2,200.00
Rojahn, Elizabeth 194.90 82,000.00
Rojahn, Frank Mace 676.72 83,000.00
Rojahn, Frank and Anna 29.82 5,250.00
Rotary 859.21 2,000.00
Ryan 590.27 94,039.47
Sarau 72.57 5,000.00
Stanhilber - Library & Parks 2,759.64 686,211.69
Stanhilber - Parks Only 10.68 2,100.00
M. Zellmer Library Fund 1,000.46 65,520.25
S. Zellmer Library Fund 1,214.13 66,950.00
Cable TV Franchise - Escrow 0.00 10,000.00
Flexible Benefits 85,966.57 0.00
Museum Membership Fund 0.00 96,062.96
Water Utility - Operating 3,606,469.89 5,025,369.19
Water Utility - Depreciation 0.00 135,702.13
Water Utility - Spec Redemption 0.13 1,596,147.00
Water Utility - Bond/Note 472,670.16 2,500,000.00
Sewerage Utility - Operating 5,889,371.81 0.00
Sewerage Utility - Replacement Fund 203,882.29 1,670,505.72
Sewerage Utility - Bond/Note 236,857.94 1,500,000.00
Sewerage Utility - Debt Service 0.00 374,399.00
Storm Water - Operating 4,907,707.72 5,025,369.19
Storm Water - Bond/Note 3,814,120.85 12,000,000.00
Storm Water - Debt Service 0.00 1,925,145.00
Centre Utility Spec Redemption 0.00 343,146.55
Parking Utility - Operating 10,227.69 0.00
64,231,818.13 52,638,658.93
77
Exhibit A-2
2010 2009 2008 2007 2006
Governmental Activities
Invested in Capital Assets, Net of Related Debt 59,344,634$ 58,296,609$ 59,238,509$ 45,658,953$ 46,097,367$
Restricted 12,781,352 4,625,915 1,814,545 15,366,502 14,982,030
Unrestricted (7,027,497)755,346 1,435,588 716,389 (67,571)
Total Governmental Activities Net Assets 65,098,489 63,677,870 62,488,642 61,741,844 61,011,826
Business-Type Activities
Invested in Capital Assets, Net of Related Debt 116,520,471 110,806,457 106,592,573 99,063,739 93,805,213
Unrestricted 29,745,981 25,715,028 16,689,275 14,053,313 9,079,028
Total Business-Type Activities Net Assets 146,266,452 136,521,485 123,281,848 113,117,052 102,884,241
Primary government
Invested in Capital Assets, Net of Related Debt 175,865,105 169,103,066 165,831,082 144,722,692 139,902,580
Restricted 12,781,352 4,625,915 1,814,545 15,366,502 14,982,030
Unrestricted 22,718,484 26,470,374 18,124,863 14,769,702 9,011,457
Total Primary Government Net Assets 211,364,941$ 200,199,355$ 185,770,490$ 174,858,896$ 163,896,067$
City of Oshkosh, Wisconsin
Net Assets by Component
Last Five Years
(accrual basis of accounting)
78
Exhibit A-3
2010 2009 2008 2007 2006
Program Revenues
Governmental Activities:
Charges for Services:
General Government 119,557$ 151,058$ 194,337$ 73,298$ 70,863$
Public Safety 4,088,498 4,024,666 3,948,596 3,886,660 3,924,570
Public Works 5,214,099 3,519,023 3,426,072 3,119,360 4,207,734
Health and welfare 209,533 210,053 240,549 185,436 206,410
Parks and recreation 2,644,591 2,448,725 1,357,307 1,344,431 1,509,167
Transportation 0 0 0 0 0
Community development 2,991,609 2,924,048 2,869,826 3,919,132 4,401,900
Operating grants and contributions 5,257,764 4,997,987 6,089,486 4,710,329 13,167,579
Unclassified 0 0 0 0 0
Interest on debt 0 0 0 0 0
Total Governmental Activities Program Revenues 20,525,651 18,275,560 18,126,173 17,238,646 27,488,223
Business-Type Activities:
Charges for Services:
Transit utility 871,564 781,952 685,116 602,759 573,399
Water utility 11,359,012 11,559,034 11,740,668 11,085,840 10,365,395
Sewer utility 9,002,688 8,996,742 9,353,241 8,418,753 7,761,982
Storm Water utility 3,724,446 3,962,269
Operating grants and contributions 4,720,484 4,010,723 3,870,423 3,682,269 3,539,218
Capital grants and contributions 3,030,390 4,555,380 2,318,353 2,301,284 3,999,620
Other 868,689 878,084 3,847,983 3,986,861 3,857,403
Total Business-Type Activities Program Revenues 33,577,273 34,744,184 31,815,784 30,077,766 30,097,017
Total Primary Government Program Revenues 54,102,924 53,019,744 49,941,957 47,316,412 57,585,240
Expenses
Governmental Activities:
General Government 6,391,836 6,285,171 6,170,557 6,218,945 5,893,337
Public Safety 23,653,443 23,333,122 22,159,371 22,066,233 21,557,204
Public Works 14,880,323 15,843,295 13,906,804 13,897,933 13,637,723
Health and welfare 1,017,262 1,065,069 1,049,528 915,465 898,430
Parks and recreation 8,558,050 8,181,034 7,547,260 8,362,968 7,763,946
Transportation 685,570 661,953 629,293 623,311 589,271
Community development 4,903,810 5,516,499 5,588,413 4,175,538 5,373,570
Unclassified 551,791 388,794 675,718 416,416 395,766
Interest on debt 2,217,235 2,319,986 2,974,777 3,005,211 3,335,421
Total Governmental Activities Expenses 62,859,320 63,594,923 60,701,721 59,682,020 59,444,668
Business-Type Activities:
Transit utility 4,800,584 4,788,395 4,852,157 4,654,186 4,517,297
Water utility 11,296,626 10,475,252 10,658,416 9,759,651 9,401,303
Sewer utility 8,493,557 8,460,051 8,426,591 7,854,061 7,860,915
Storm Watr utility 2,776,140 2,365,735
Other 5,201,117 4,246,275 6,016,602 5,429,505 5,674,537
Total Business-Type Activities Expenses 32,568,024 30,335,708 29,953,766 27,697,403 27,454,052
Total Primary Government Expenses 95,427,344$ 93,930,631$ 90,655,487$ 87,379,423$ 86,898,720$
(continued)
City of Oshkosh, Wisconsin
Changes in Net Assets
(accrual basis of accounting)
Last Five Years
79
Exhibit A-3
2010 2009 2008 2007 2006
Net (Expense)/Revenue
Governmental Activities (42,333,669)$ (45,319,363)$ (42,575,548)$ (42,443,374)$ (31,956,445)$
Business-Type Activities 1,009,249 4,408,476 1,862,018 2,380,363 2,642,965
Total Primary Government Net Expense ($41,324,420)($40,910,887)($40,713,530)($40,063,011)($29,313,480)
General Revenues and Other Changes in Net Assets
Governmental Activities:
Taxes:
Property and Other Local Taxes Levied For:
General Purposes 12,560,637$ 12,018,253$ 11,128,038$ 10,330,110$ 9,697,647$
Other Purposes 13,454,777 13,809,528 13,975,582 13,924,251 13,809,191
Debt Service 16,675,924 16,440,764 15,793,524 15,705,026 15,055,768
Investment Earnings 467,806 743,305 1,785,206 2,582,645 2,624,221
Gain (Loss) on Sale of Capital Assets 75,206 19,333 0 49,723 157,395
Miscellaneous 756,938 955,629 964,403 581,637 969,607
Transfers -237,000 (729,525) (324,407)0 0
Total Governmental Activities 43,754,288$ 43,257,287$ 43,322,346$ 43,173,392$ 42,313,829$
Business-Type Activities:
General Purposes property taxes levied for 8,148,457 7,554,946 6,794,421 5,912,175 5,293,820
Investment Earnings 226,694 294,475 911,358 1,619,447 1,531,912
Gain (Loss) on Sale of Capital Assets 123,567 252,215 272,592 320,826 (1,606,461)
Miscellaneous 0 0 0 0 0
Transfers 237,000 729,525 324,407 0 0
Total Business-Type Activities 8,735,718 8,831,161 8,302,778 7,852,448 5,219,271
Total Primary Government 52,490,006$ 52,088,448$ 51,625,124$ 51,025,840$ 47,533,100$
Change in Net Assets
Governmental Activities 1,420,619 (2,062,076) 746,798 730,018 10,357,384
Business-Type Activities 9,744,967 13,239,637 10,164,796 10,232,811 7,862,236
Total Primary Government Change in Net Assets 11,165,586$ 11,177,561$ 10,911,594$ 10,962,829$ 18,219,620$
City of Oshkosh, Wisconsin
Changes in Net Assets (continued)
Last Five Years
(accrual basis of accounting)
80
Exhibit A-4
2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
ASSETS
Cash and investments 10,546,698$ 9,295,235$ 16,724,271$ 24,205,581$ 24,348,971$ 19,969,678$ 11,280,988$ 13,702,600$
Receivables
Taxes 28,673,282 27,944,646 43,325 34,183 34,207 24,348 210,980 224,726
Special assessment 5,331,796 3,552,858 3,001,690 4,143,515 3,215,502 3,722,991 2,630,633 4,024,964
Accounts 6,320,370 6,614,569 3,161,003 2,964,475 2,923,964 3,080,064 3,113,504 2,005,605
Due from other funds 16,622,884 17,951,282 9,350,690 10,515,858 8,242,107 12,115,772 7,648,980 4,845,943
Due from other governments 529,619 402,205 346,941 277,590 24,859 22,649 75,780 355,574
Inventories and prepaid items 15,128 15,934 15,117 12,146 11,860 11,314 11,800 8,639
Notes receivable 3,347,240 3,207,869 3,210,125 3,036,233 2,915,512 2,361,276 2,243,523 2,318,685
Total Assets 71,387,017$ 68,984,598$ 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 3,981,228 3,872,628 7,716,490 3,191,288 5,359,211 3,728,771 5,042,990 3,400,458
Accrued payroll liabilities 1,837,904 1,696,448 1,380,300 1,005,030 838,276 848,087 816,120 452,856
Due to other funds 3,111,172 8,505,880 1,858,130 4,614,485 1,777,256 3,381,632 1,939,765 1,700,668
Due to other governments 3,347,240 3,207,869 3,210,125 3,036,233 2,915,512 2,361,276 2,243,523 2,318,685
Deferred revenues 32,380,077 31,648,232 3,177,348 4,554,472 3,538,472 4,008,695 3,047,030 4,353,068
Deposits 1,185,401 1,185,722 1,070,684 1,035,492 1,114,948 1,162,088 1,110,368 963,007
Total Liabilities 45,843,022 50,116,779 18,413,077 17,437,000 15,543,675 15,490,549 14,199,796 13,188,742 0 0
Fund Balances
Reserved for
Inventories and prepaid items 15,128 15,934 15,117 175,800 175,800 175,800 175,800 175,800
Retirement of long-term debt 0 1,146,983 1,814,545 15,366,502 14,982,030 14,374,421 726,155 758,499
Construction of assets 6,161,672 5,394,152 4,989,533 2,502,562 2,500,545 4,307,252 3,746,057 3,688,771
Debt service 802,645
Special purposes 2,225,449
Trust agreements 3,591,586 3,478,932
Committed to
Special purposes 1,408,453
Assigned to
Construction of assets 2,482,753
Subsequent years 766,216
Unreserved - designated 532,461 30,171
Undesignated, reported in
General fund 8,090,093 7,074,708 6,919,987 7,116,709 6,148,721 4,905,892 6,656,451 7,711,675
Special revenue funds 3,110,529 2,591,008 2,366,211 2,054,178 1,711,929 1,963,249 1,963,249
Capital project funds (1,885,880)
Total Fund Balances 25,543,995 18,867,819 16,360,361 27,527,784 25,861,274 25,475,294 13,267,712 14,297,994 0 0
TOTAL LIABILITIES AND FUND BALANCES
General 18,535,787 15,278,012 9,627,593 10,508,661 8,845,649 7,147,113 8,962,160 9,901,445
Debt Service 17,190,045 17,936,083 1,814,545 15,366,502 14,982,030 14,374,421 804,019 836,363
Other Governmental Funds 35,661,185 35,770,503 24,411,024 19,314,418 17,889,303 19,786,558 17,450,009 16,748,928
71,387,017$ 68,984,598$ 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
81
Exhibit A-5
2010 2009 2008 2007 2006
Revenues
Taxes 29,175,074$ 28,383,879$ 26,838,787$ 25,911,221$ 24,660,520$
Special assessments 3,560,361 1,164,351 1,811,474 1,694,690 2,042,869
Intergovernmental 18,845,337 18,791,932 18,869,185 18,690,654 19,649,114
Licenses and permits 1,550,077 1,454,274 1,612,615 1,709,402 1,589,996
Fines and forfeits 801,492 818,009 759,287 851,683 865,368
Public charges for services 4,919,919 4,464,959 5,035,679 4,578,523 5,422,822
Intergovernmental charges for services 3,348,419 3,361,466 2,440,503 2,545,173 2,718,626
Miscellaneous 2,249,104 3,738,388 4,333,069 4,313,507 12,714,809
Total Revenues 64,449,783 62,177,258 61,700,599 60,294,853 69,664,124
Expenditures
Current
General government 5,929,199 5,864,013 5,849,537 5,854,440 5,524,037
Public safety 22,529,557 22,551,705 22,088,797 21,102,472 20,896,004
Public works 9,449,325 10,775,806 9,618,947 8,712,988 8,961,586
Health and welfare 1,013,821 1,061,628 1,047,247 915,465 898,430
Parks and recreation 7,465,635 7,579,261 7,193,198 7,287,802 7,274,008
Transportation 685,570 661,953 629,293 623,311 589,271
Community development 4,711,826 5,276,199 5,458,971 4,070,772 5,254,435
Unclassified 551,791 388,794 675,718 416,416 395,766
Debt service
Principal 9,625,951 5,237,862 18,861,940 5,470,617 5,057,639
Interest and fiscal charges 2,113,520 2,319,996 2,955,006 2,991,930 3,376,240
Capital outlay 9,422,185 8,372,637 4,464,179 6,469,538 19,359,022
Total Expenditures 73,498,380 70,089,854 78,842,833 63,915,751 77,586,438
Excess of Revenues Over (Under)
Expenditures (9,048,597) (7,912,596) (17,142,234) (3,620,898) (7,922,314)
Other Financing Sources (Uses)
Long-term debt issued 18,584,000 6,587,500 7,154,145 5,200,172 16,041,596
Refunding debt issued (2,622,227)
Payment to refunding escrow agent 0 (7,763,518)
Transfers in 9,779,289 9,362,539 8,688,735 8,564,967 8,056,339
Transfers out (10,016,289) (10,092,064) (9,013,142) (8,564,967) (8,056,339)
Total Other Financing Sources (Uses) 15,724,773 5,857,975 6,829,738 5,200,172 8,278,078
Excess of Revenues and Other
Financing Sources Over (Under)
Expenditures and Other Financing Uses 6,676,176 (2,054,621) (10,312,496) 1,579,274 355,764
Fund Balances - January 1 18,867,819 20,922,440 27,752,581 26,173,307 25,817,543
Fund Balances - December 31 25,543,995$ 18,867,819$ 17,440,085$ 27,752,581$ 26,173,307$
City of Oshkosh, Wisconsin
Changes in Fund Balances, Governmental Funds
Last Five Fiscal Years
(accrual basis of accounting)
82
Exhibit A-6
City of Oshkosh, Wisconsin
Program Revenues by Function/Program
Last Five Years
2010 2009 2008 2007 2006
REVENUES
Taxes & Special Assess.29,067,217$ 28,131,966$ 26,902,068$ 25,939,725$ 24,618,227$
Licenses & Permits 1,096,477 1,047,967 1,216,972 1,322,421 1,214,293
Fines & Costs 725,169 740,958 672,789 733,249 784,376
Shared Taxes - State and 16,634,254 17,050,881 17,254,764 16,959,446 12,276,831
Federal Aids
Use of Property and Money 364,032 655,495 980,931 1,173,004 950,556
Charges for Current Serv.4,972,238 4,584,998 3,542,358 4,049,304 3,776,708
Interdepartmental Rev.11,106,376 11,713,398 10,548,757 10,091,460 10,026,313
Unclassified 203,036 219,032 507,414 107,660 137,898
64,168,799$ 64,144,695$ 61,626,053$ 60,376,269$ 53,785,202$
SUMMARY-SHARED TAXES-
STATE & FEDERAL AIDS
Shared State Aids 10,782,702$ 11,085,640$ 10,969,615$ 11,073,727$ 11,075,468$
Highway Aids 2,911,503 3,027,523 3,010,732 2,843,112 2,767,382
Elections 0 3,847 0 0 0
Muni. Serv.-State Prop.1,189,833 1,252,757 1,356,188 1,322,063 1,333,774
County Ambulance Aid 71,554 71,400 169,389 174,934 159,884
Parks/Forestry Aids 0 2,532 0 5,398 0
Tax Disparity Aids 1,202,998 1,211,765 1,212,311 1,088,157 1,067,259
Cable TV 14,200 6,762 8,654 6,332 7,914
State Computer Credit 123,502 141,788 179,659 199,152 210,086
Fire 60,381 56,867 161,558 40,000 33,000
Police Training Aids 277,581 190,000 186,658 206,571 192,937
16,634,254$ 17,050,881$ 17,254,764$ 16,959,446$ 16,847,704$
Source: City of Oshkosh Finance Department, Exhibit A-20
83
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
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
2009 3,559,320,400 152,720,300 3,712,040,700 3,801,817,900 97.53
2010 3,558,554,500 149,579,500 3,708,134,000 3,779,437,800 98.11
TAX RATE $100
STATE
STATE COUNTY COUNTY CITY CITY TAX NET
YEAR TAX TAX SCHOOL SCHOOL* GENERAL TOTAL CREDIT TAX
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 2.238
2009 0.017 0.569 0.000 0.985 0.840 2.411 0.126 2.285
2010 0.017 0.580 0.000 1.061 0.861 2.519 0.125 2.394
*City school tax rate includes vocational school rate. In 2010 vocational portion was .181.
84
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
2009 2,269,535,600 1,146,062,600 226,006,700 810,100 3,642,415,000
2010 2,253,953,000 1,151,021,000 222,105,900 826,300 3,627,906,200
Source: Winnebago County Statistical Report
85
Exhibit A-9
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Midwest Realty $69,414,300 1.87%
Dumke & Assoc.54,634,600 1.47
Tom Rusch etal 41,741,100 1.13
Oshkosh Truck 27,135,400 0.73
Curwood 28,964,700 0.78
BFO Factory Shoppes 32,090,900 0.87
Aurora Medical 26,754,900 0.72
Peter Jungbacker etal 28,032,200 0.76
Bergstrom 21,340,000 0.58
Health Care Reit 21,850,000 0.59
0.00
$351,958,100 9.49%
Total Assessed Valuation $3,708,134,000
December 31, 2000
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Curwood Inc. (Bemis) & Weldon Inc.$37,239,900 1.74%
John Mark - Security Investments 31,047,600 1.45
Thomas N. Rusch, etal.23,549,100 1.10
Oshkosh Truck Corp., Cadence Co.13,098,700 0.61
Dennis Schwab, Landmark Ltd Partnership 14,439,300 0.67
First Horizon Group Ltd. Partnership 13,067,000 0.61
Park Plaza - Miles Kimball 11,582,100 0.54
Aurora Medical 11,807,200 0.55
Pine Investments / Nicolet Investments 10,919,900 0.51
Firstar Bank Oshkosh 8,813,600 0.41
$175,564,400 8.19%
Total Assessed Valuation $2,140,360,100
(1) Assessed valuation based on the valuation of property for taxes collected in 2010 and 2000
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
12/31/2000 and 12/31/2010
December 31, 2010
86
Exhibit A-10
County
Settlement
Total City for Delinquent Total
Tax Tax Tax Tax
Year Levy Collections Collections Collections
2009 $93,178,460 $90,156,910 96.76 %$2,973,400 $93,130,310 99.95 %
2008 89,123,760 86,319,259 96.85 2,756,957 89,076,216 99.95
2007 86,119,686 83,580,798 97.05 2,491,982 86,072,780 99.95
2006 81,158,972 78,653,692 96.91 2,466,249 81,119,941 99.95
2005 76,396,795 74,165,036 97.08 2,058,798 76,223,834 99.77
2004 74,331,644 72,467,595 97.49 1,820,386 74,287,981 99.94
2003 69,933,492 67,935,039 97.14 1,781,879 69,716,918 99.69
2002 67,421,077 65,397,614 97.00 1,795,518 67,193,132 99.66
2001 64,794,558 63,274,133 97.65 1,438,894 64,713,027 99.87
2000 59,629,006 57,994,500 97.26 1,629,005 59,623,505 99.99
Sources: Winnebago County Treasurer and City of Oshkosh Department of Finance.
Tax Collections
Prior to
Collections /
Adjustments
Percent of Total
Collections
To Tax Levy
City of Oshkosh, Wisconsin
Property Tax Levies And Collections
2000 - 2009
Percent of
City Tax
87
Exhibit A-11
STATEMENT OF INDEBTEDNESS
City of Oshkosh, Wisconsin
As of December 31, 2010
GENERAL OBLIGATION DEBT OUTSTANDING
AND LEGAL DEBT MARGIN
For City For School
General Purposes Purposes
Equalized Value..................................$ 3,779,437,800 $ 4,749,336,116
Legal Debt Margin*............................5 %10 %
188,971,890 474,933,612
Bonds Outstanding..............................131,952,877 13,810,000
Legal Debt Margin..............................$57,019,013 $ 461,123,612
*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 equalizedpurposes 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..... $ 131,952,877 100.00% $ 131,952,877
Total Direct Debt.................... 131,952,877 131,952,877
OVERLAPPING DEBT
Winnebago County.................. 57,258,000 31.7148% 18,159,260
For School Purposes............... 13,810,000 74.4825% 10,286,033
Fox Valley Tech. College........ 34,360,000 10.7899%3,707,410
Total Debt................................$ 237,380,877 $ 164,105,580
2010 Population - 66,080
Ratio of Debt to Equalized Value: Direct Municipal Purposes only..... 3.49%
Ratio of Debt Per Capita: Direct Municipal Purposes Only..... $ 1,996.87
88
Exhibit A-12City of Oshkosh, Wisconsin
Schedule of Bonds and Notes for City Purposes, Issued,
Retired and Outstanding as of December 31, 2010.
Year of Authorized Retired as of Outstanding
Issue and Issued 12-31-10 12-31-10
BONDS
Clean Water Fund - Improvements to sewer utility. 1993 2,881,402 2,470,122 411,280
Note: Amount authorized up to $2,994,450.
Clean Water Fund - Improvements to sewer utility. 1995 17,631,411 12,583,612 5,047,799
Note: Amount authorized up to $18,388,072
Water Revenue Bond - Safe Drinking Water 1998 11,913,672 6,172,731 5,740,941
G O Corporate Purpose Ref Bonds - refunded 2010C 1999 4,540,000 4,540,000 0
Clean Water Fund - Improvements to sewer utility. 1999 3,169,210 1,528,103 1,641,107
Corporate Purpose Bond Issue - Improvements to streets,1999 3,560,000 3,560,000 0
storm sewers, sanitary sewers, water, parks and property
improvements - refunded by 2010C
Water Revenue Bonds - Safe Drinking Water 2000 13,636,364 6,233,248 7,403,116
Safe Drinking Water Bond 2001 3,483,913 1,337,345 2,146,568
Corporate Purpose Bonds 2002A - refunded by 2010C 2002 11,225,000 10,665,000 560,000
Corporate Purpose Taxable Bonds 2002C - refunded by 2010D 2002 7,580,000 7,220,000 360,000
Corporate Purpose Bonds 03A, Park Improvements,2003 11,675,000 3,005,000 8,670,000
Splash pad, Fire Engine, repl Transit buses, upgrade
Cable TV, storm, TIF 19, 18, 14, 13, 12.
Corporate Purpose Taxable Bonds 2003C 2003 1,420,000 345,000 1,075,000
Corporate Purpose Taxable Ref Bonds, TIF 15, TIF 11,2003 8,615,000 4,080,000 4,535,000
TIF 13, TIF 12, TIF 8, TIF 14, 2003D
Corporate Purpose Refunding Bonds 2003E, Gen and Parking 2003 1,050,000 525,000 525,000
Water Rev Ref Bonds 2003G 2003 2,065,000 1,830,000 235,000
Corporate Purpose Bonds 04A, Sawyer St and bridge,2004 6,480,000 1,440,000 5,040,000
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 2,065,000 0
Rev Bond Clean Water Fund 2004 3,361,441 810,326 2,551,115
Corporate Purpose G O Bonds 2005A, playground,2005 7,395,000 1,460,000 5,935,000
Three basketball courts, TIF 19, TIF 14, TIF 18, Wtr,
Swr, General
Storm Water Revenue Bonds 2005C 2005 4,820,000 900,000 3,920,000
Corporate Purpose Refunding Bonds 2005D 2005 18,335,000 5,365,000 12,970,000
Corporate Purpose Bonds 2006A, streets, floating dock 2006 9,265,000 1,390,000 7,875,000
along amphitheater, swr, gen, TIF20
Corporate Purpose GO Bonds 2006C, Tif 20 2006 1,995,000 280,000 1,715,000
G O Refunding Bonds 2006D, ref 1998-C and 1998-D 2006 11,865,000 8,735,000 3,130,000
Water Rev Ref Bonds 2006G 2006 12,705,000 1,855,000 10,850,000
Corporate Purpose G O Bonds 2007A, Streets, Swr,2007 7,950,000 870,000 7,080,000
Park Improvements, Water
Corporate Purpose G O Bonds 2008A, General 2008 5,105,000 365,000 4,740,000
Water Revenue Bonds, Safe Drinking, 2008 2008 7,069,143 299,017 6,770,126
Corporate Purpose G O Bonds 2009A, TIF 18, Water, Sewer, 2009 16,740,000 905,000 15,835,000
Storm, and General
Corporate Purpose Bonds 2010A, General and TIF 18 2010 9,140,000 9,140,000
Corporate Purpose Refunding Bonds 2010C, TIF 6, 7, 8, 12, 13, 2010 12,620,000 12,620,000
14, 18, Cable TV, Transit, Parking, Storm, Water, Sewer, Gen.
Corporate Purpose Taxable Ref. Bonds 2010D, TIF 13, 16, 17, 2010 8,420,000 8,420,000
Oshkosh Center, and Ind Park
Storm Water Rev Bonds 2010E 2010 20,800,000 20,800,000
Water Rev Bonds 2010F 2010 5,740,000 270,000 5,470,000
Sewer Rev Bonds 2010G 2010 4,890,000 4,890,000
TOTAL BONDS 281,206,556 93,104,504 188,102,052
STATEMENT OF INDEBTEDNESS
89
Exhibit A-12City of Oshkosh, Wisconsin
Schedule of Bonds and Notes for City Purposes, Issued,
Retired and Outstanding as of December 31, 2010.
Year of Authorized Retired as of Outstanding
Issue and Issued 12-31-10 12-31-10
STATEMENT OF INDEBTEDNESS
NOTES
Promissory Notes 2001B - Improvements to Sidwalks, Traffic 2001 2,110,000 2,110,000 0
lights, Major Equipment, and Property improvements
Promissory Notes, 2002B 2002 2,260,000 1,950,000 310,000
Promissory Notes - TIF 18 SW Ind Comm of Pub Lands 2002 1,012,000 297,653 714,347
Promissory Notes 2003B - refunded by 2010C 2003 2,615,000 2,615,000 0
Promissory Notes 03 TIF 14 Mercy Comm of Pub Lands 2003 375,000 92,304 282,696
Promissory Notes 03 TIF 13 Comm of Pub Lands 2003 1,365,720 350,802 1,014,918
Promissory Refunding Notes 2003F, Swr, Wtr, Gen, Transit, 2003 4,380,000 4,380,000 0
TIF 8-S Aviation, TIF 7-SW Ind
Promissory Notes 03 TIF 13 Comm of Pub Lands,2003 226,000 46,370 179,630
Osh Centre Hotel and Covention Center
Promissory Notes 04 G O, Gen, Wtr, Swr 2004 1,565,000 980,000 585,000
Prom Notes State Trust Fund, Riverside Park-refunded by 2010C 2004 1,200,000 1,200,000 0
Promissory Notes TIF 14 Comm of Pub Lands 2004 99,000 16,875 82,125
Promissory Notes TIF 14 Comm of Pub Lands 2004 100,000 16,158 83,842
Promissory Notes 2005B, Gen, Wtr, Swr, Storm 2005 2,540,000 1,305,000 1,235,000
Promissory Notes 05 Expand Riverside Park 2005 200,000 35,090 164,910
Promissory Notes 05 TIF 13 and TIF 17 2005 1,163,000 161,204 1,001,796
Promissory Notes 05 TIF 8 and TIF 13 2005 656,000 90,928 565,072
Promissory Notes 06B, Gen, Water, Sewer, Storm, Trans 2006 2,500,000 1,000,000 1,500,000
Promissory Notes 07B, Gen, Water, Sewer, Storm,2007 3,375,000 985,000 2,390,000
Ohio/WI St Bridge, Swr interceptor Hazel/New York,
Sanitation automated collect, Wtr new meter reading.
Promissory Notes 08B, Golf and General 2008 1,565,000 300,000 1,265,000
Promissory Notes 2008, Board Comm, Tif 20, Ind Park 2008 1,419,815 84,795 1,335,020
Promissory Notes 2008, Industrial Park-refunded by 2010D 2008 1,122,000 1,122,000 0
Prom Notes 2008, Board Comm, Conv Center-refunded by 2010D 2008 1,832,000 1,832,000 0
Promissory Notes 2009B, Transit, Water, Sewer, Storm, Gen. 2009 2,945,000 335,000 2,610,000
Promissory Notes 2009C, Convention Center and Ind. Park 2009 1,322,463 112,945 1,209,518
Promissory Notes 2009, TIF 20 2009 792,933 792,933
Promissory Notes 2010, TIF 20 2010 256,068 256,068
Promissory Notes 2010B, Transit, Library, Water, Sewer,2010 4,150,000 4,150,000
Storm, and General
TOTAL NOTES 43,146,999 21,419,124 21,727,875
NET INDEBTEDNESS FOR CITY GENERAL PURPOSES $ 324,353,555 $ 114,523,628 $ 209,829,927
90
Exhibit A-13
(1 OF 3)
Calendar Build America Build America Build America
Year Bonds Bonds Credit Notes Notes Credit Revenue Bonds Notes Credit Total
2011 13,393,819$ (365,211)$ 3,368,608$ (66,405)$ 8,348,491$ (395,938)$ 24,283,364$
2012 12,964,639 (367,339) 3,159,211 (66,225) 8,136,795 (405,879) 23,421,202
2013 11,527,589 (357,377) 3,208,923 (62,130) 7,910,053 (401,031) 21,826,027
2014 11,421,027 (345,746) 3,053,106 (57,050) 7,921,151 (394,486) 21,598,002
2015 11,130,627 (332,354) 2,749,443 (50,580) 6,567,887 (386,207) 19,678,816
2016 10,850,736 (317,720) 2,436,841 (43,116) 6,567,182 (376,172) 19,117,751
2017 10,590,772 (301,771) 2,011,053 (34,160) 6,579,586 (364,331) 18,481,149
2018 10,219,992 (283,811) 1,758,935 (24,039) 6,599,415 (350,551) 17,919,941
2019 9,791,882 (264,068) 1,433,485 (13,381) 5,812,239 (334,251) 16,425,906
2020 9,084,095 (243,687) 1,147,818 (6,896) 4,676,692 (315,579) 14,342,443
2021 8,058,854 (222,337) 537,120 0 4,680,561 (295,551) 12,758,647
2022 6,206,254 (199,749) 537,936 0 4,225,899 (274,163) 10,496,177
2023 5,047,294 (176,688) 456,558 0 4,228,197 (250,832) 9,304,529
2024 4,390,442 (152,557) 299,263 0 4,236,925 (225,320) 8,548,753
2025 3,678,190 (127,855) 282,492 0 4,017,582 (197,537) 7,652,872
2026 2,754,485 (102,497) 120,670 0 2,836,330 (167,401) 5,441,587
2027 2,045,965 (76,354) 120,670 0 2,851,910 (134,644) 4,807,547
2028 1,591,567 (49,549)0 0 2,835,577 (99,457) 4,278,138
2029 662,579 (21,903)0 0 2,381,454 (61,794) 2,960,336
2030 646,980 (11,193)0 0 1,959,569 (21,134) 2,574,222
146,057,788$ (4,319,766)$ 26,682,132$ (423,982)$ 103,373,495$ (5,452,258)$ 265,917,409$
Total Special Assessments against property in the City of Oshkosh are as follows:
Street Improvements 3,339,610$
Sanitary Sewers 609,639
Water Mains 131,011
Sidewalks 679,444
Deferred Assessments 200,874
Plumbing 21,065
Electrical
Overlay 128,933
Engineering 0
5,110,576$
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.
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2010
SPECIAL ASSESSMENTS AS OF 12-31-10
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES AND REVENUE BONDS
91
Exhibit A-13
(2 OF 3)
Calendar
Year Bonds Notes Revenue Bonds Total
2011 8,950,000$ 2,535,205$ 5,663,375$ 17,148,580$
2012 8,950,000 2,401,305 5,673,618 17,024,923
2013 7,805,000 2,541,522 5,599,435 15,945,957
2014 7,955,000 2,476,431 5,767,693 16,199,124
2015 7,935,000 2,262,523 4,559,173 14,756,696
2016 7,930,000 2,034,183 4,689,744 14,653,927
2017 7,960,000 1,688,452 4,842,102 14,490,554
2018 7,895,000 1,503,441 5,011,291 14,409,732
2019 7,775,000 1,239,853 4,376,908 13,391,761
2020 7,385,000 1,005,289 3,376,924 11,767,213
2021 6,665,000 436,610 3,506,428 10,608,038
2022 5,095,000 458,882 3,182,625 8,736,507
2023 4,170,000 400,058 3,311,822 7,881,880
2024 3,710,000 262,259 3,456,354 7,428,613
2025 3,170,000 258,279 3,379,589 6,807,868
2026 2,400,000 108,932 2,339,630 4,848,562
2027 1,810,000 114,651 2,459,910 4,384,561
2028 1,450,000 0 2,555,432 4,005,432
2029 600,000 0 2,215,000 2,815,000
2030 615,000 0 1,910,000 2,525,000
110,225,000$ 21,727,875$ 77,877,053$ 209,829,928$
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES AND REVENUE BONDS
92
Exhibit A-13
(3 OF 3)
Calendar Build America
Year Bonds Notes Revenue Bonds Bonds Credit Total
2011 4,443,820 833,402 2,685,116 (827,554) 7,134,784
2012 4,014,640 757,905 2,463,177 (839,443) 6,396,279
2013 3,722,590 667,401 2,310,618 (820,538) 5,880,071
2014 3,466,028 576,674 2,153,458 (797,282) 5,398,878
2015 3,195,628 486,920 2,008,714 (769,141) 4,922,121
2016 2,920,735 402,658 1,877,438 (737,008) 4,463,823
2017 2,630,772 322,600 1,737,484 (700,262) 3,990,594
2018 2,324,992 255,494 1,588,124 (658,401) 3,510,209
2019 2,016,883 193,630 1,435,331 (611,700) 3,034,144
2000 1,699,095 142,530 1,299,768 (566,162) 2,575,231
2021 1,393,855 100,510 1,174,133 (517,888) 2,150,610
2022 1,111,255 79,053 1,043,274 (473,912) 1,759,670
2023 877,295 56,500 916,375 (427,520) 1,422,650
2024 680,443 37,003 780,571 (377,877) 1,120,140
2025 508,190 24,212 637,993 (325,392) 845,003
2026 354,485 11,737 496,700 (269,898) 593,024
2027 235,965 6,018 392,000 (210,998) 422,985
2028 141,567 0 280,145 (149,006) 272,706
2029 62,580 0 166,454 (83,697) 145,337
2030 31,980 0 49,569 (32,327) 49,222
35,832,798$ 4,954,247$ 25,496,442$ (10,196,006)$ 56,087,481$
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL INTEREST REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES AND REVENUE BONDS
93
Exhibit A-14
Calendar Build America
Year Principal Interest Bonds Credit Total
2011 8,950,000$ 4,443,820$ (365,211)$ 13,028,609$
2012 8,950,000 4,014,640 (367,339) 12,597,301
2013 7,805,000 3,722,590 (357,377)11,170,213
(Includes Amounts Issued to Other Funds)
December 31, 2010
BONDS
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION BONDS AND NOTES
2013 7,805,000 3,722,590 (357,377)11,170,213
2014 7,955,000 3,466,028 (345,746) 11,075,282
2015 7,935,000 3,195,628 (332,354) 10,798,274
2016 7,930,000 2,920,735 (317,720) 10,533,015
2017 7,960,000 2,630,772 (301,771) 10,289,001
2018 7,895,000 2,324,992 (283,811) 9,936,181
2019 7,775,000 2,016,883 (264,068) 9,527,815
2020 7,385,000 1,699,095 (243,687) 8,840,408
2021 6,665,000 1,393,855 (222,337) 7,836,518
2022 5,095,000 1,111,255 (199,749) 6,006,506
2023 4,170,000 877,295 (176,688) 4,870,607
2024 3,710,000 680,443 (152,557) 4,237,886
2025 3,170,000 508,190 (127,855) 3,550,335
2026 2,400,000 354,485 (102,497) 2,651,988
2027 1,810,000 235,965 (76,354) 1,969,611
2028 1,450,000 141,567 (49,549) 1,542,018
2029 600,000 62,580 (21,903) 640,677
2030 615,000 31,980 (11,193) 635,787
110,225,000$ 35,832,798$ (4,319,766)$ 141,738,032$
94
Exhibit A-14
Calendar Build America
Year Principal Interest Bonds Credit Total
2011 2,535,205$ 833,402$ (66,405)$ 3,302,202$
2012 2,401,305 757,905 (66,225) 3,092,985
2013 2,541,522 667,401 (62,130)3,146,793
December 31, 2010
NOTES
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION BONDS AND NOTES
(Includes Amounts Issued to Other Funds)
CITY OF OSHKOSH
2013 2,541,522 667,401 (62,130)3,146,793
2014 2,476,431 576,674 (57,050) 2,996,055
2015 2,262,523 486,920 (50,580) 2,698,863
2016 2,034,183 402,658 (43,116) 2,393,725
2017 1,688,452 322,600 (34,160) 1,976,892
2018 1,503,441 255,494 (24,039) 1,734,896
2019 1,239,853 193,630 (13,381) 1,420,102
2020 1,005,289 142,530 (6,896) 1,140,923
2021 436,610 100,510 0 537,120
2022 458,882 79,053 0 537,935
2023 400,058 56,500 0 456,558
2024 262,259 37,003 0 299,262
2025 258,279 24,212 0 282,491
2026 108,932 11,737 0 120,669
2027 114,651 6,018 0 120,669
21,727,875$ 4,954,247$ (423,982)$ 26,258,140$
TOTAL G.O. INDEBTNESS 131,952,875$ 40,787,045$ (4,743,748)$ 167,996,172$
95
Exhibit A-14
(2 OF 12)
Calendar Build America Build America
Year Notes Notes Credit Bonds Bonds Credit Total
2011 3,368,608$ (66,405) 13,393,819$ (365,211)$ 16,330,811$
2012 3,159,211 (66,225) 12,964,639 (367,339) 15,690,286
2013 3,208,923 (62,130) 11,527,589 (357,377) 14,317,005
2014 3,053,106 (57,050) 11,421,027 (345,746) 14,071,337
2015 2,749,443 (50,580) 11,130,627 (332,354) 13,497,136
2016 2,436,841 (43,116) 10,850,736 (317,720) 12,926,741
2017 2,011,053 (34,160) 10,590,772 (301,771) 12,265,894
2018 1,758,935 (24,039) 10,219,992 (283,811) 11,671,077
2019 1,433,485 (13,381) 9,791,882 (264,068) 10,947,918
2020 1,147,818 (6,896) 9,084,095 (243,687) 9,981,330
2021 537,120 0 8,058,854 (222,337) 8,373,637
2022 537,936 0 6,206,254 (199,749) 6,544,441
2023 456,558 0 5,047,294 (176,688) 5,327,164
2024 299,263 0 4,390,442 (152,557) 4,537,148
2025 282,492 0 3,678,190 (127,855) 3,832,827
2026 120,670 0 2,754,485 (102,497) 2,772,658
2027 120,670 2,045,965 (76,354) 2,090,281
2028 1,591,567 (49,549) 1,542,018
2029 662,579 (21,903) 640,676
2030 646,980 (11,193) 635,787
26,682,132$ (423,982)$ 146,057,788$ (4,319,766)$ 167,996,172$
ISSUED FOR CITY PURPOSES AS OF DECEMBER 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENT FOR OUTSTANDING
GENERAL OBLIGATION BONDS AND NOTES
96
Exhibit A-14
(3 OF 12)
Calendar
Year Principal Interest Total
2011 5,729,556$ 2,402,231$ 8,131,787$
2012 5,916,785 2,188,584 8,105,369
2013 5,079,861 1,993,264 7,073,125
2014 5,052,979 1,825,494 6,878,473
2015 4,809,514 1,655,627 6,465,141
2016 4,563,902 1,491,751 6,055,653
2017 4,382,225 1,329,044 5,711,269
2018 4,015,734 1,166,278 5,182,012
2019 3,789,433 1,015,750 4,805,183
2020 3,586,498 869,413 4,455,911
2021 2,721,642 726,988 3,448,630
2022 2,305,830 614,512 2,920,342
2023 2,108,903 512,533 2,621,436
2024 2,040,419 415,706 2,456,125
2025 1,893,235 323,068 2,216,303
2026 1,450,734 233,880 1,684,614
2027 1,205,006 163,747 1,368,753
2028 804,050 103,466 907,516
2029 590,153 61,548 651,701
2030 604,907 31,452 636,359
62,651,366$ 19,124,336$ 81,775,702$
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR GENERAL CITY PURPOSES
December 31, 2010
97
Exhibit A-14
(4 OF 12)
Calendar
Year Principal Interest Total
2011 1,207,630$ 592,551$ 1,800,181$
2012 1,142,178 544,195 1,686,373
2013 1,069,843 505,542 1,575,385
2014 1,105,172 468,916 1,574,088
2015 1,073,426 429,934 1,503,360
2016 1,058,653 391,450 1,450,103
2017 1,031,032 350,807 1,381,839
2018 1,061,821 310,054 1,371,875
2019 1,075,023 268,654 1,343,677
2020 1,012,183 225,172 1,237,355
2021 792,220 183,462 975,682
2022 735,682 149,267 884,949
2023 696,023 116,446 812,469
2024 610,071 83,648 693,719
2025 475,925 55,898 531,823
2026 382,728 33,440 416,168
2027 133,574 15,194 148,768
2028 133,574 7,680 141,254
14,796,758$ 4,732,310$ 19,529,068$
Debt Service Payments are made from the Utility User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR SEWER UTILITY
98
Exhibit A-14
(5 OF 12)
Calendar
Year Principal Interest Total
2011 694,794$ 488,987$ 1,183,781$
2012 709,877 467,005 1,176,882
2013 723,323 443,224 1,166,547
2014 731,752 418,550 1,150,302
2015 717,563 391,834 1,109,397
2016 698,090 364,278 1,062,368
2017 706,014 336,138 1,042,152
2018 717,925 306,097 1,024,022
2019 713,359 273,880 987,239
2020 726,269 240,820 967,089
2021 715,375 206,338 921,713
2022 727,693 170,864 898,557
2023 482,653 134,576 617,229
2024 388,722 107,794 496,516
2025 386,253 86,424 472,677
2026 386,253 65,180 451,433
2027 386,253 43,936 430,189
2028 386,253 22,210 408,463
10,998,421$ 4,568,135$ 15,566,556$
Debt Service Payments are made from the Utility User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR STORM WATER UTILITY
99
Exhibit A-14
(6 OF 12)
Calendar
Year Principal Interest Total
2011 1,263,554$ 475,155$ 1,738,709$
2012 1,018,969 421,281 1,440,250
2013 1,019,449 387,476 1,406,925
2014 993,184 352,632 1,345,816
2015 988,821 317,866 1,306,687
2016 988,033 282,269 1,270,302
2017 836,224 244,950 1,081,174
2018 796,575 212,242 1,008,817
2019 725,706 180,830 906,536
2020 667,270 151,212 818,482
2021 653,688 123,386 777,074
2022 567,344 95,238 662,582
2023 438,416 69,487 507,903
2024 345,551 48,113 393,664
2025 197,800 32,402 230,202
2026 202,458 22,518 224,976
2027 109,288 12,432 121,720
2028 109,288 6,284 115,572
2029 0 0 0
2030 0 0 0
11,921,618$ 3,435,773$ 15,357,391$
Debt Service Payments are made from the Utility User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR WATER UTILITY
100
Exhibit A-14
(7 OF 12)
Calendar
Year Principal Interest Total
2011 46,823$ 7,976$ 54,799$
2012 46,658 6,175 52,833
2013 46,122 4,537 50,659
2014 55,516 2,787 58,303
2015 24,758 1,292 26,050
2016 2,496 350 2,846
2017 2,120 294 2,414
2018 2,139 242 2,381
2019 1,753 186 1,939
2020 1,803 134 1,937
2021 1,872 76 1,948
2022 159 16 175
2023 168 11 179
2024 168 3 171
232,555$ 24,079$ 256,634$
Debt Service Payments are made from User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR PARKING UTILITY
101
Exhibit A-14
(8 OF 12)
Calendar
Year Principal Interest Total
2011 71,748$ 7,259$ 79,007$
2012 17,737 4,092 21,829
2013 16,353 3,710 20,063
2014 17,329 3,342 20,671
2015 17,910 2,926 20,836
2016 16,930 2,480 19,410
2017 16,057 2,022 18,079
2018 16,024 1,544 17,568
2019 11,564 1,038 12,602
2020 11,839 670 12,509
2021 6,739 277 7,016
2022 571 58 629
2023 606 40 646
2024 606 10 616
222,013$ 29,468$ 251,481$
Debt Service Payments are made from User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR TRANSIT SYSTEM
102
Exhibit A-14
(9 OF 12)
Calendar
Year Principal Interest Total
2011 282,722$ 140,301$ 423,023$
2012 300,352 126,076 426,428
2013 313,917 116,260 430,177
2014 322,601 105,692 428,293
2015 336,697 94,126 430,823
2016 351,034 81,887 432,921
2017 361,192 68,086 429,278
2018 381,645 53,647 435,292
2019 242,592 37,973 280,565
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
3,408,135$ 920,479$ 4,328,614$
Debt Service Payments are made from Industrial Park Land Sales.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR INDUSTRIAL PARK
103
Exhibit A-14
(10 OF 12)
Calendar
Year Principal Interest Total
2011 2,169,218$ 1,156,271$ 3,325,489$
2012 2,173,350 1,010,003 3,183,353
2013 2,054,358 931,537 2,985,895
2014 2,129,017 861,532 2,990,549
2015 2,204,461 785,872 2,990,333
2016 2,260,405 706,577 2,966,982
2017 2,300,376 620,446 2,920,822
2018 2,395,882 529,172 2,925,054
2019 2,446,655 431,256 2,877,911
2020 2,275,270 326,954 2,602,224
2021 2,095,410 232,095 2,327,505
2022 1,104,348 144,208 1,248,556
2023 806,700 90,232 896,932
2024 548,279 53,589 601,868
2025 435,474 28,035 463,509
2026 45,085 6,710 51,795
2027 46,669 4,367 51,036
2028 16,835 1,924 18,759
2029 9,847 1,028 10,875
2030 10,093 525 10,618
27,527,732$ 7,922,333$ 35,450,065$
Debt Service Payments are to be made from Tax Incremental Financing Payments.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR TAX INCREMENTAL FINANCING DISTRICTS
104
Exhibit A-14
(11 OF 12)
Calendar
Year Principal Interest Total
2011 14,446$ 5,193$ 19,639$
2012 20,513 4,010 24,523
2013 18,134 3,488 21,622
2014 18,579 3,007 21,586
2015 18,900 2,516 21,416
2016 18,924 2,014 20,938
2017 10,598 1,476 12,074
2018 10,697 1,210 11,907
2019 8,766 930 9,696
2020 9,014 666 9,680
2021 9,360 384 9,744
2022 792 80 872
2023 842 54 896
2024 842 14 856
160,407$ 25,042$ 185,449$
Debt Service Payments are made from PEG Access Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR CABLE TV
105
Exhibit A-14
(12 OF 12)
Calendar
Year Principal Interest Total
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
33,870$ 5,090$ 38,960$
Debt Service Payments are made from the User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
GENERAL OBLIGATION DEBT OBTAINED FOR GOLF COURSE
106
Exhibit A-15
(1 OF 5)
Calendar Build America
Year Principal Interest Bonds Credit Total
2011 5,663,375$ 2,685,116$ (395,938)$ 7,952,553$
2012 5,673,618 2,463,177 (405,879) 7,730,916
2013 5,599,435 2,310,618 (401,031) 7,509,022
2014 5,767,693 2,153,458 (394,486) 7,526,665
2015 4,559,173 2,008,714 (386,207) 6,181,680
2016 4,689,744 1,877,438 (376,172) 6,191,010
2017 4,842,102 1,737,484 (364,331) 6,215,255
2018 5,011,291 1,588,124 (350,551) 6,248,864
2019 4,376,908 1,435,331 (334,251) 5,477,988
2020 3,376,924 1,299,768 (315,579) 4,361,113
2021 3,506,428 1,174,133 (295,551) 4,385,010
2022 3,182,625 1,043,274 (274,163) 3,951,736
2023 3,311,822 916,375 (250,832) 3,977,365
2024 3,456,354 780,571 (225,320) 4,011,605
2025 3,379,589 637,993 (197,537) 3,820,045
2026 2,339,630 496,700 (167,401) 2,668,929
2027 2,459,910 392,000 (134,644) 2,717,266
2028 2,555,432 280,145 (99,457) 2,736,120
2029 2,215,000 166,454 (61,794) 2,319,660
2030 1,910,000 49,569 (21,134) 1,938,435
77,877,053$ 25,496,442$ (5,452,258)$ 97,921,237$
TOTAL REVENUE
DEBT
(Includes Amounts Issued to Other Funds)
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE BONDS
107
Exhibit A-15
(2 OF 5)
Calendar
Year Principal Interest Total
2011 235,000$ 9,164$ 244,164$
2011 0 0 0
2012 0 0 0
235,000$ 9,164$ 244,164$
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR TAX INCREMENTAL FINANCING DISTRICTS
108
Exhibit A-15
(3 OF 5)
Calendar
Year Principal Interest Total
2011 2,644,362$ 1,229,070$ 3,873,432$
2012 2,730,201 1,152,282 3,882,483
2013 2,797,439 1,072,301 3,869,740
2014 2,886,117 989,860 3,875,977
2015 2,961,271 903,984 3,865,255
2016 3,047,942 815,186 3,863,128
2017 3,151,176 722,761 3,873,937
2018 3,271,010 626,074 3,897,084
2019 2,572,035 532,437 3,104,472
2020 1,714,467 459,728 2,174,195
2021 1,784,361 398,286 2,182,647
2022 1,390,835 335,633 1,726,468
2023 1,450,197 282,417 1,732,614
2024 1,509,779 226,163 1,735,942
2025 1,574,589 166,961 1,741,550
2026 794,630 104,533 899,163
2027 824,910 76,672 901,582
2028 855,432 47,216 902,648
2029 420,000 21,630 441,630
38,380,753$ 10,163,194$ 48,543,947$
Debt Service Payments are made from the Utility User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR WATER UTILITY
109
Exhibit A-15
(4 OF 5)
Calendar
Year Principal Interest Total
2011 1,889,013$ 441,518$ 2,330,531$
2012 1,958,417 376,202 2,334,619
2013 1,796,996 321,313 2,118,309
2014 1,851,576 268,454 2,120,030
2015 547,902 235,256 783,158
2016 561,802 222,290 784,092
2017 575,926 208,287 784,213
2018 590,281 193,103 783,384
2019 609,873 176,333 786,206
2020 417,457 160,875 578,332
2021 432,067 147,469 579,536
2022 446,790 133,326 580,116
2023 461,625 118,241 579,866
2024 481,575 102,067 583,642
2025 280,000 87,360 367,360
2026 295,000 74,201 369,201
2027 310,000 59,825 369,825
2028 325,000 44,264 369,264
2029 345,000 27,509 372,509
2030 365,000 9,399 374,399
14,541,300$ 3,407,292$ 17,948,592$
Debt Service Payments are made from the Utility User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR SEWER UTILITY
110
Exhibit A-15
(5 OF 5)
Calendar
Year Principal Interest Total
2011 895,000$ 1,005,364$ 1,900,364$
2012 985,000 934,693 1,919,693
2013 1,005,000 917,004 1,922,004
2014 1,030,000 895,144 1,925,144
2015 1,050,000 869,474 1,919,474
2016 1,080,000 839,962 1,919,962
2017 1,115,000 806,436 1,921,436
2018 1,150,000 768,947 1,918,947
2019 1,195,000 726,561 1,921,561
2020 1,245,000 679,165 1,924,165
2021 1,290,000 628,378 1,918,378
2022 1,345,000 574,315 1,919,315
2023 1,400,000 515,717 1,915,717
2024 1,465,000 452,341 1,917,341
2025 1,525,000 383,672 1,908,672
2026 1,250,000 317,966 1,567,966
2027 1,325,000 255,503 1,580,503
2028 1,375,000 188,665 1,563,665
2029 1,450,000 117,315 1,567,315
2030 1,545,000 40,170 1,585,170
24,720,000$ 11,916,792$ 36,636,792$
Debt Service Payments are made from the Utility User Fees.
December 31, 2010
CITY OF OSHKOSH
WINNEBAGO COUNTY, WISCONSIN
ANNUAL PRINCIPAL AND INTEREST REQUIREMENTS
REVENUE DEBT OBTAINED FOR STORM WATER UTILITY
111
Exhibit A-16
Total Per Capita
Personal Personal Median School Total Assessed
Year Population (1) Income (2) Income (3) Age (4) Enrollment (5)Property Value (8)
2010 66,080 $1,678,299,840 $25,398 35.2 10,213 7.0%$3,708,134,000
2009 64,350 1,795,365,000 27,900 33.8 10,331 8.4%3,712,040,700
2008 63,680 2,521,091,200 39,590 49 10,335 4.9%3,658,905,250
2007 65,810 2,514,402,670 38,207 49 10,374 4.6%3,571,509,200
2006 65,510 2,585,548,680 39,468 46 10,299 4.8%3,483,887,600
Unemployment
Rate (6)
$142,508
136,240
136,218
126,136
160,402
City of Oshkosh, Wisconsin
Demographic and Economic Statistics
Last Ten Years
Average Sales Price
of Residential
Property (7)
2005 65,445 2,253,009,570 34,426 n/a 10,256 5.0%3,396,162,800
2004 65,095 2,217,981,935 34,073 n/a 10,304 5.1%2,368,259,800
2003 64,327 2,107,931,463 32,769 n/a 10,406 6.0%2,329,972,500
2002 64,132 2,120,652,844 33,067 n/a 10,547 5.4%2,266,847,900
2001 63,225 1,996,266,150 31,574 n/a 10,658 3.3%2,203,098,900
Source:
(1) U.S. Census, Census of population.
(2) Computation of per capita personal income multiplied by population
(3) Oshkosh Chamber (US Bureau of Census 2000 Census. ESRI 2010 Forecast)
(4) Oshkosh Chamber (US Bureau of Census 2000 Census. ESRI 2010 Forecast)
(5) WI Department of Public Instruction http://dpi.wi.gov/lbstat/pubdata2.html
(6) Wisconsin Department of Workforce Development Website: worknet.wisconsin.gov
(7) City of Oshkosh Assessor and IT Department
(8) City of Oshkosh Official Statement
118,240
126,409
117,345
106,951
99,939
0
500,000,000
1,000,000,000
1,500,000,000
2,000,000,000
2,500,000,000
3,000,000,000
3,500,000,000
4,000,000,000
Year 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000
Total Assessed
112
Exhibit A-17
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 389,389. Within a 50 mile radius of Oshkosh reside a total of over 1,276,029 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 2010.
Place of Residence Data
Total Civilian Labor Force 216,559
Unemployment 13,383
Percent of Civilian Labor Force 6.15
Employment 203,176
Place of Work
Nonfarm Wage and Salary 205,500
Total Private 179,800
Goods Producing 54,300
Nat Res., Mining, & Construction 9,700
Manufacturing 44,600
Service Producing 151,200
Trade 35,800
Wholesale Trade 7,700
Retail Trade 21,700
Transportation, Warehouse, and Utilities 6,400
Information 3,600
Finance Activities 10,600
Professional & Business Services 20,900
Educational & Health Services 26,100
Leisure & Hospitality 17,100
Other Services, except Public Admin 11,400
Government 25,700
Federal 1,000
State 5,000
Local 19,700
Source: State of Wisconsin - Department of Administration
CITY OF OSHKOSH, WI
WI Dept. of Oshkosh Oshkosh
Workforce Chamber Financial
Development Aug. 2010 Report
Manufacturing survey July 2010 2010 2000
Axel Tech International (Meritor)183 250 450
Arrowhead Conveyor Co., Inc.227
Bemis 2,521 1455
Buckstaff 207
General Beverage 125
Hoffmaster, A Solo Cup Company,502 490
(Scott Worldwide Food Service)
FIRMS EMPLOYING MORE THAN 100 PERSONS
113
Exhibit A-17
WI Dept. of Oshkosh Oshkosh
Workforce Chamber Financial
Development Aug. 2010 Report
Manufacturing survey July 2010 2010 2000
Jeld-Wen Premium Wood Doors,)320
(Morgan Products Ltd.)
Lapham-Hickey Steel 265
Miles Kimball Company 547 700 460
Leach Company 383
Muza Metal Products 108
Nercon Engineering 139
OEC Graphics 112
Oshkosh B'Gosh Inc.425
Oshkosh Door Co.107
Oshkosh Truck Corporation 350 4,000 1336
Pepsi Cola Bottling 107
Pluswood, Inc.151
Seven-Up Bottling Co. of Oshkosh, Inc.132
SNC Manufacturing Company 274
WI Automated Machinery 121
Non-Manufacturing
4imprint (Nelson Marketing)431 424 195
Affinity Medical Group,1900 545 955
(Mercy Medical Center)
Aurora Medical Group 1200 1,079 199
Clarity Care (Residentail Care RCDD)326 249
Copps Foods Center 193
Cub Foods, Inc.100
EAA 180
Eastbay, Inc.175
Evergreen Retirement Community 300 263
La Salle Clinic 178
Lutheran Homes of Oshkosh 300 244 330
Northpoint Med & Rehab,195
(Oshkosh Medical & Rehab)
Oshkosh Northwestern 156
Pioneer Inn & Marina 174
Park Plaza Hotel & Convention Center 160
Pick N Save 276
Shopko 100
Target 150
Theda Care 138
U S Bank (Firstar)675 550
Wal-Mart 318 184
Government
City of Oshkosh-715 600 600
7/2010 = 532 FT, 44 PT, 139 Seasonal,
(source: Assistant Personnel Director, City Oshkosh)
CESA6 104 244 316
Oshkosh Correctional Institution 519 512
Oshkosh Area School District 1200 1,440 1313
Oshkosh Post Office 270 354
University of WI - Oshkosh 1676 1,344 1257
Winnebago County 1031 999 1090
Winnebago Mental Health Institute 677
114
Exhibit A-18
ACCOUNT PURPOSE 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
0020 Manager 2 2 2 2 2 2 2 2 2 2
0030 Attorney 3 3 3 3 3 3 3 3 3 3
0040 Personnel 4 4 4 4 4 5 5 5 5 5
0050 Clerk 3 3 3 3 3 3 3 3 3 3
0071 Financial/Treasury 14 14 14 14 14 14 14 14 14 14
0080 Assessor 6 6 6 6 6 6 6 6 6 6
0090 Purchasing 3 3 3 3 3 3 2 2 3 3
0100 Cent.Srvs.1 1 1 1 1 1 1 1 1 1
0110 I T 9 9 7 7 7 7 7 7 7 7
0130 Facilities 3 3 3 3 4 4 4 4 4 4
0150 Media Srvcs 3 3 3 3 3 3 3 3 3 3
0160 Safety 1 1 1 1 1 1 1 1 1 1
0211 Police 118 118 118 117 118 117 116 116 116 116
0230 Fire 104 103 103 103 109 109 108 108 108 108
0310 Health 6 6 6 6 6 6 6 6 6 6
0330 Nurses 3 3 3 3 3 3 3 3 3 3
0410 Public Wrks.3 3 3 3 3 3 3 3 3 3
0420 Engineers 12 12 12 12 13 13 12 11 11 11
0430 Streets 40 40 37 40 34 33 32 30 31 31
0450 Garage 8 8 8 8 8 8 8 8 8 8
0470 Garbage 13 13 13 13 13 13 11 11 11 11
0480 Recycling 9 9 7 7 7 7 7 7 6 5
0610 Parks 17 17 16.5 16.5 16.5 16.5 15.5 15.5 15.5 15.5
0620 Forestry 3 3 4 4 4 4 4 4 4 4
0630 Golf 2 2 2 2 2 2 2 2 2 2
0650 Cemetery 4 4 4 4 4 4 4 4 4 4
0740 Planning 7 7 7 9 9 9 9.5 9.5 9.5 9.5
0750 Codes 10 10 10 10 10 10 10.5 10.5 10.5 10.5
0801-0810 Transportation 7 7 7 7 7 7 7 7 7 7
1060 Library 38.9 37.1 36.4 36.4 36.9 35.9 32.5 31.6 31.6 32.5
1070 Museum 10 10 10 10 10 10 10 9 10 10
1728 Transit 28 28 28 28 28 28 28 28 28 28
1717 Parking 3 3 3 3 2 2 2 2 1 1
1810 Water 32.5 32 33 33 31 31 31 31.33 31.33 32.85
1910 Sewer 33.5 33 36 32.5 34 34 34 32.33 32.33 32.67
2010 Storm 0 0 7.5 2 7 7 7 7 7.33 8
0760 Senior Services 5 5 5 5 6 6 6 6 5 5
0790 Housing 15 15 17 16 14 14 0 0 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
255-0610 Parks Rev.0 0 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5
TOTAL 583.90 580.10 586.90 580.90 586.90 584.90 560.50 554.26 554.59 557.02
Source: City of Oshkosh Finance Department
CITY OF OSHKOSH, WISCONSIN
NUMBERS OF FULL-TIME EMPLOYEES AUTHORIZED
Last Ten Fiscal Years
115
Exhibit A-19
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
GENERAL GOVERNMENT:
Common Council 37,492$ 38,424$ 38,827$ 39,740$ 39,726$ 39,538$ 39,052$ 39,875$ 45,228$ 51,335$
Manager & Staff Emp.1,089,905 1,082,296 1,128,051 1,157,925 1,229,373 1,429,741 1,594,541 1,439,869 1,506,360 1,608,067
Dept. of Administration 3,779,327 3,786,863 3,811,649 3,822,024 4,215,765 4,054,758 4,128,835 4,369,793 4,312,426 4,269,795
Public Safety 17,169,292 17,483,141 18,242,353 19,165,240 20,446,059 20,793,621 20,867,682 21,958,685 22,429,343 22,416,143
Garbage & Refuse Coll.1,266,761 1,286,599 1,358,580 1,363,750 1,549,476 1,549,409 1,325,292 1,341,288 1,445,865 1,692,722
Public Works 5,887,123 5,402,429 5,051,208 5,203,187 5,015,268 5,124,711 5,117,650 6,038,287 5,954,600 5,873,559
Street Lights 862,333 851,804 606,973 592,520 615,916 589,271 623,310 629,293 661,953 685,570
Maint. of Facilities 591,722 651,328 718,067 723,315 681,972 746,831 769,203 829,207 821,326 792,687
& Inspections
Parks & Forestry 1,662,071 1,507,767 1,529,314 1,641,053 1,658,854 1,600,051 1,707,219 1,701,506 1,841,432 1,839,700
Pollock Pool 35,599 31,176 35,070 2,800 3,710 0 0 0 0 0
Pollock Comm Wtr Park 35,848 44,554 56,513 35,722 17,067
Riverside Cemetery 472,772 156,962 185,551 167,615 203,103 215,194 217,278 238,597 270,983 273,131
Library 2,020,581 2,125,308 2,407,345 2,235,691 2,454,405 2,401,238 2,509,639 2,268,377 2,597,497 2,275,773
Museum 560,020 684,005 706,101 717,441 742,907 699,524 799,058 847,267 845,407 866,016
Planning & Research 573,800 630,327 635,523 651,897 710,719 760,366 790,374 795,448 835,841 804,424
Debt Service Fund 10,930,144 12,008,866 13,685,068 14,836,550 15,394,793 15,824,907 16,330,462 16,490,425 17,253,388 24,696,746
Housing Authority 651,643 685,965 766,845 745,757 735,141 414,457 0 0 0 0
Senior Services 332,325 350,917 316,471 300,596 340,910 352,107 460,902 337,187 337,079 238,935
Recycling 1,077,038 895,040 858,327 735,874 710,518 563,994 397,145 345,782 1,513,835 327,356
City/County Safety Bldg 0 0 0 1,270,914 0 0 0 0 0 0
Unclassified 428,320 490,905 472,968 559,145 496,203 395,766 416,416 675,717 388,792 551,790
49,428,268$ 50,150,122$ 52,554,291$ 55,933,034$ 57,244,818$ 57,591,332$ 58,138,612$ 60,403,117$ 63,097,077$ 69,280,816$
(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
CITY OF OSHKOSH, WISCONSIN
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (1)
2001-2010
116
Exhibit A-20
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
REVENUES
Taxes & Special Assess. 19,293,931$ 21,503,179$ 22,476,451$ 24,274,716$ 24,601,129$ 24,618,227$ 25,939,725$ 26,902,068$ 28,131,966$ 29,067,217$
Licenses & Permits 826,693 1,030,340 88,914 856,609 1,032,128 1,214,293 1,322,421 1,216,972 1,047,967 1,096,477
Fines & Costs 884,251 843,119 833,600 860,621 750,571 784,376 733,249 672,789 740,958 725,169
Shared Taxes - State and 16,962,918 16,861,917 17,446,096 16,480,520 16,586,851 17,276,831 16,959,446 17,254,764 17,050,881 16,634,254
Federal Aids
Use of Property and Money 950,468 550,145 519,627 443,449 514,972 950,556 1,173,004 980,931 655,495 364,032
Charges for Current Serv. 2,202,982 2,554,239 2,707,359 3,231,249 4,159,797 3,776,708 4,049,304 3,542,358 4,584,998 4,972,238
Interdepartmental Rev. 8,183,338 7,943,694 9,463,555 8,949,155 9,417,682 10,026,313 10,091,460 10,548,757 11,713,398 11,106,376
Unclassified 1,530,555 162,816 112,724 296,642 110,000 137,898 107,660 507,414 219,032 203,036
50,835,136$ 51,449,449$ 53,648,326$ 55,392,961$ 57,173,130$ 58,785,202$ 60,376,269$ 61,626,053$ 64,144,695$ 64,168,799$
SUMMARY-SHARED TAXES-
STATE & FEDERAL AIDS
Shared State Aids 11,890,769$ 12,010,518$ 12,125,047$ 11,065,483$ 11,076,027$ 11,075,468$ 11,073,727$ 10,969,615$ 11,085,640$ 10,782,702$
Highway Aids 2,632,214 2,571,554 2,682,437 2,707,989 2,740,615 2,767,382 2,843,112 3,010,732 3,027,523 2,911,503
Housing Authority 0 0 0 0 0 429,127 0 0 0 0
Muni. Serv.-State Prop. 1,442,959 1,170,423 1,225,185 1,222,605 1,277,417 1,333,774 1,322,063 1,356,188 1,252,757 1,189,833
County Ambulance Aid 58,152 62,484 65,972 141,930 146,188 159,884 174,934 169,389 71,400 71,554
Parks/Forestry Aids 0 874 1,883 3,871 0 0 5,398 0 2,532 0
Tax Disparity Aids 726,992 807,903 980,694 985,860 977,077 1,067,259 1,088,157 1,212,311 1,211,765 1,202,998
Elections - Aids 6,762
Cable TV 1,550 7,035 7,036 5,557 9,332 7,914 6,332 8,654 3,847 14,200
State Computer Credit 209,115 230,437 204,965 187,440 190,635 210,086 199,152 179,659 141,788 123,502
Protective Services/Aids 1,167 689 152,877 159,785 169,560 225,937 246,571 348,216 246,867 337,962
16,962,918$ 16,861,917$ 17,446,096$ 16,480,520$ 16,586,851$ 17,276,831$ 16,959,446$ 17,254,764$ 17,050,881$ 16,634,254$
Source: City of Oshkosh Finance Department
GENERAL GOVERNMENTAL REVENUES BY SOURCE
CITY OF OSHKOSH, WISCONSIN
2001-2010
117
Exhibit A-21 CITY OF OSHKOSH, WISCONSIN
TAX ROLL COLLECTIONS
COLLECTIONS IN 2010 OF 2009 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 97.17 %
State Taxes $ 645,191.91 $ 626,908.31
County Taxes 19,496,777.84 18,944,273.45
$ 20,141,969.75 $ 570,787.99
Schools:
Board of Education $ 27,758,595.46 26,971,965.69
Vocational School 6,021,254.00 33,779,849.46 5,850,622.25 957,261.52
Debt Service:
City Debt $ 16,789,100.00 16,789,100.00
Legislative Trust Funds:
Police Pension $0.00
Firemen's Pension 0.00
Workmen's Comp. 22,400.00 22,400.00
Other Funds:
Library 2,492,500.00
Museum 883,100.00
Transit 793,300.00
Recycling 478,200.00
Street Lighting 1,150,100.00
Grand Opera House 66,400.00
Cemetery 210,300.00
Committee on Aging 367,700.00
Health Services 352,100.00
Golf Course 0.00
Pollock Community Water Park 72,800.00
Equipment 0.00 6,866,500.00
TID 6,820,712.56 6,627,425.56$ 193,287.00
General City 5,108,800.00 27,971,032.74 815,767.26
Special District 39,350.00 38,234.89 1,115.11
Overrun (5,990.29)(5,820.54) (169.75)
89,562,691.48$ 52,393,769.70$ 34,630,872.65$ 2,538,049.13$
Special Assessments
3,606,739.33 3,171,388.78 435,350.55
93,169,430.81$ 52,393,769.70$ 37,802,261.43$ 2,973,399.68$
Source: City of Oshkosh Finance Department
118
Exhibit A-22
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
RATIO OF DEBT TO ASSESSED VALUATION AND POPULATION
CITY OF OSHKOSH, WISCONSIN
1995-2010
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%$1,576.692002 Direct Municipal Debt $101,116,094 4.46%$1,576.69
119
Exhibit A-22
DEBT
RATIO OF DEBT TO PER
ASSESSED VALUATION CAPITA
RATIO OF DEBT TO ASSESSED VALUATION AND POPULATION
CITY OF OSHKOSH, WISCONSIN
1995-2010
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
20062006
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
(per Census web page, 63680)
2008 Direct Municipal Debt $ 119,684,801 3.11% $ 1,815.61
2009
Valuation - $3,801,817,900
Population - 64,350
2009 Direct Municipal Debt $ 129,657,250 3.41% $ 2,014.88
2010
Valuation - $3,779,437,800
Population - 66,080
Source: Population - U.S. Census Data - 2010 Population Estimate
2010 Direct Municipal Debt $131,952,877 3.49%$1,996.872010 Direct Municipal Debt $131,952,877 3.49%$1,996.87
Source: City of Oshkosh Finance Department
120
Exhibit A-23
CITY OF OSHKOSH, WISCONSIN
COMPUTATION OF LEGAL DEBT MARGIN
AND
COMPUTATION OF OVERLAPPING DEBT
See Exhibit A-11 for
these computations
121
Exhibit A-24
CITY OF OSHKOSH, WISCONSIN
RATIO OF ANNUAL DEBT SERVICE
FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENTAL EXPENDITURES
2001 - 2010
GENERAL
ANNUAL DEBT GOVERNMENTAL %
YEAR SERVICE EXPENDITURES RATIO
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
2009 17,253,388 63,097,077 27.34
2010 24,696,746 69,280,816 35.65
Source: City of Oshkosh Finance Department (Exhibit A-19)
122
Exhibit A-25
1 of 2
CITY OF OSHKOSH, WISCONSIN
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
2009 Estimate 64,350
2010 Estimate 66,080
Source: U.S. Census Bureau
Total of All Permits
Year No. Value No. Value
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
2009 20 5,173,400 6,130 64,463,673
2010 30 9,823,490 5,104 74,950,553
Source: City of Oshkosh Inspections Department
UTILITY CUSTOMERS AT YEAR END - CITY OF OSHKOSH
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Water 22,168 19,246 22,351 22,500 23,200 23,200 23,298 23,283 23,453 24,333
Source: City of Oshkosh Water Distribution
Electric 38,916 39,648 40,595 41,736 44,531 41,659 42,492 42,910 43,038 43,382
Gas 29,424 30,075 30,779 31,168 31,611 31,494 32,123 32,441 32,505 32,667
Source: Wisconsin Public Service Corporation
New Residential: Single, Family, and Apartments
BUILDING PERMITS
POPULATION - CITY OF OSHKOSH
ECONOMICS
123
Exhibit A-25
2 of 2
WATER UTILITY
Rates:
Quarterly Volume Charge
Charge per 100 cubic Feet Meter Size Charge
First 3,000 cubic feet $3.37 5/8" & 3/4" $16.00
Next 7,000 cubic feet 3.23 1"25.00
Next 190,000 cubic feet 3.06 1-1/4"33.00
Over 200,000 cubic feet 2.87 1-1/2"39.00
2"60.00
3"99.00
4"147.00
6"261.00
8"396.00
10"576.00
12"753.00
Billings Usage (00's)
Oshkosh Correctional Insittute $437,874.33 140,923
UW Oshkosh 261,680.40 75,892
Bemis / Curwood/Milprint 211,612.71 69,148
Winnebago Mental Health 192,175.53 60,831
Pepsi Bottling 178,071.83 60,286
Winnebago County 142,845.14 41,765
Oshkosh Corporation 112,395.57 33,188
Oshkosh Area School District 86,342.48 22,783
Hydrite Chemical 82,778.20 27,282
City of Oshkosh 71,364.43 16,450
CITY OF OSHKOSH, WISCONSIN
UTILITY INFORMATION
Top Ten Users / Customers
Minimum Quarterly Charge
124
Exhibit A-25
2 of 2
SEWER UTILITY
Rates:
Quarterly Volume Charge Meter Size Charge
Charge per 100 cubic Feet $2.72 5/8" & 3/4" $16.00
1" 26.00
1-1/4" 33.00
1-1/2" 41.00
2" 60.00
3" 104.00
4" 166.00
6" 322.00
8" 509.00
10" 758.00
12" 1,007.00
Billings Usage (00's)
Oshkosh Correctional Insittute $390,386.56 140,923
UW Oshkosh 215,375.77 73,351
Winnebago County 197,704.58 69,455
Winnebago Mental Health Institute 155,577.89 55,455
City of Oshkosh 142,124.16 48,951
Oshkosh Truck 90,568.92 31,301
Midwest Realty Management 82,214.64 26,512
Oshkosh Area School District 66,599.68 21,523
Gabert & Rusch 60,135.52 18,791
Multicircuit 51,577.92 18,786
Quarterly Fixed Charge
Top Ten Users / Customers
125
Exhibit A-25
2 of 2
STORM WATER UTILITY
Rates:
Quarterly Equivalent Runoff Unit (ERU) Charge $15.73
Small Residential (Impervious area < 1,750 square feet) .67 ERU
Average Residential (Impervious area > 1,750 1 ERU
but < 3,750 square Feet)
Large Residential (Impervious area > 3,750 square feet) 1.33 ERU
Other (Square feet of mpervious area/2,817)
No charge for undeveloped properties
Billings ERU's
Winnebago County $269,339.04 4,280.6586
City of Oshkosh 123,745.08 1,966.7051
Oshkosh Corp.121,514.98 1,931.2616
School District of Oshkosh 77,088.35 1,225.1804
State of WI 83,275.98 1,323.5216
UW Oshkosh 67,236.54 1,068.6037
EAA 45,643.46 725.4205
Bemis/Currwood 38,891.54 618.1109
BFO Factory Outlets 24,770.38 393.6805
Gabert & Rusch 20,557.62 326.7263
Top Ten Users / Customers
126
Exhibit A-26
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
2009 74 13 2 5
2010 30 22 1 7
5,785 2,149 352 3,201
Source: City of Oshkosh Department of Community Development
City of Oshkosh, Wisconsin
NEW DWELLING UNITS CONSTRUCTED
1992-2010
127
Exhibit A-27
PAYROLL - PAYROLL - CONTRAC-MATERIALS
DIRECT INDIRECT TUAL UTILITIES FIXED AND CAPITAL TOTAL
LABOR LABOR SERVICES CHARGES SUPPLIES OUTLAY BUDGET
GENERAL GOVENRNMENT
City Council 28,500 2,200 13,600 0 0 2,000 0 46,300
City Manager 177,600 63,000 13,100 0 0 1,200 0 254,900
City Attorney 240,000 101,900 57,400 0 0 6,500 0 405,800
Personnel 309,300 102,200 120,000 0 0 3,900 0 535,400
City Clerk 153,300 64,100 15,800 0 0 3,200 0 236,400
Elections 38,400 400 10,800 900 0 3,500 0 54,000
Finance 651,400 312,600 4,400 0 0 4,200 0 972,600
Purchasing 156,500 72,900 6,700 0 0 1,400 0 237,500
Central Services 30,800 13,400 94,300 0 0 14,000 0 152,500
Information Technology Division 407,900 216,700 281,500 46,900 0 59,800 71,000 1,083,800
Insurance 0 0 0 0 597,300 0 0 597,300
Facilities Maintenance 231,900 127,900 65,100 191,200 300 37,600 0 654,000
Independant Audit 0 0 22,700 0 0 0 0 22,700
Media Services 155,400 54,100 2,100 500 0 2,100 0 214,200
TOTAL GENERAL GOVERNMENT 2,581,000 1,131,400 707,500 239,500 597,600 139,400 71,000 5,467,400
PUBLIC SAFETY
Police 7,468,000 3,653,500 192,400 38,300 200 145,800 187,800 11,686,000
Animal Care 0 0 78,100 0 0 0 0 78,100
Fire & Ambulance 7,306,600 3,374,800 127,600 114,400 0 237,500 14,000 11,174,900
Hydrant Rental 0 0 650,000 0 0 0 0 650,000
Auxiliary Police 0 0 1,500 200 0 3,200 0 4,900
Crossing Guards 79,800 6,100 0 0 0 0 0 85,900
Police & Fire Commission 0 0 13,800 0 0 200 0 14,000
TOTAL PUBLIC SAFETY 14,854,400 7,034,400 1,063,400 152,900 200 386,700 201,800 23,693,800
PUBLIC WORKS
Public Works - Admin. 256,600 106,000 4,100 0 0 800 0 367,500
Engineering 841,100 379,300 17,300 4,900 0 15,500 5,500 1,263,600
Streets - General 1,502,800 800,000 55,000 5,000 500 409,100 0 2,772,400
Central Garage 413,000 225,000 141,000 126,800 1,100 1,038,000 0 1,944,900
Garbage Coll. & Disposal 471,300 276,200 663,300 0 2,300 60,600 240,000 1,713,700
TOTAL PUBLIC WORKS 3,484,800 1,786,500 880,700 136,700 3,900 1,524,000 245,500 8,062,100
PARKS & OTHER FACILITIES
Parks 863,200 398,900 57,300 192,900 300 98,500 2,200 1,613,300
Forestry 194,400 80,400 12,600 200 0 13,400 4,500 305,500
TOTAL PARKS & OTHER FAC. 1,057,600 479,300 69,900 193,100 300 111,900 6,700 1,918,800
2011 OPERATING BUDGET BY FUNCTION
CITY OF OSHKOSH, WISCONSIN
128
Exhibit A-27
PAYROLL - PAYROLL - CONTRAC-MATERIALS
DIRECT INDIRECT TUAL UTILITIES FIXED AND CAPITAL TOTAL
LABOR LABOR SERVICES CHARGES SUPPLIES OUTLAY BUDGET
COMMUNITY DEVELOPMENT
Assessor 353,000 164,000 37,100 0 0 3,400 0 557,500
Planning Services 604,300 212,600 13,300 200 0 6,100 0 836,500
Inspection Services 602,600 264,800 24,400 1,500 1,000 9,100 0 903,400
TOTAL COMMUNITY DEV. 1,559,900 641,400 74,800 1,700 1,000 18,600 0 2,297,400
DEPT. OF TRANSPORTATION
Electric 296,400 131,800 11,500 33,900 0 43,300 0 516,900
Sign 108,100 49,800 3,600 3,600 0 40,000 0 205,100
TOTAL DEPT. OF TRANS. 404,500 181,600 15,100 37,500 0 83,300 0 722,000
UNCLASSIFIED
Unemployment Compensation 32,000 32,000
Uncollectible Accounts 300,000 300,000
Employee Benefit Fees 14,000 14,000
Patriotic Celebration 6,600 6,600
Adjustment of Salaries 0 0
Unclassified Expenses 85,000 85,000
Mobile Trailer Tax 37,000 37,000
Industrial Development 37,500 37,500
TOTAL UNCLASSIFIED 0 32,000 480,100 0 0 0 0 512,100
TOTAL BUDGET 23,942,200 11,286,600 3,291,500 761,400 603,000 2,263,900 525,000 42,673,600
Budget for Recycling 248,500 140,400 432,500 600 100 17,600 255,000 1,094,700
Budget for Street Lighting 0 0 20,000 1,050,000 0 83,000 0 1,153,000
Budget for Senior Services 254,500 132,000 24,200 59,500 7,500 7,400 0 485,100
Budget for Transit Utility 1,544,000 726,300 1,564,100 36,500 165,400 444,400 22,300 4,503,000
Budget for Library 1,800,200 745,000 459,300 174,200 12,500 438,800 1,300 3,631,300
Budget for Museum 560,400 242,200 63,800 82,300 8,700 43,500 0 1,000,900
Budget for Grand Opera House 0 0 59,700 0 6,500 0 0 66,200
Budget for Cemetery 229,200 102,100 14,400 24,600 8,200 14,600 1,500 394,600
Budget for Health Services 616,800 282,600 38,100 3,700 8,500 26,900 0 976,600
Budget for Leach Amphitheater 10,000 800 28,500 18,300 200 10,700 2,000 70,500
Budget for Pollock Comm Wtr Park 39,200 3,000 139,700 58,300 6,100 53,200 500 300,000
Budget for Equipment Fund 0 0 0 0 0 0 0 0
TOTAL OPERATING BUDGET 29,245,000 13,661,000 6,135,800 2,269,400 826,700 3,404,000 807,600 56,349,500
129
Exhibit A-28
2008 2009 2010 2010 2011
ACTUAL ACTUAL BUDGETED ACTUAL PROPOSED
REVENUES REVENUES REVENUES REVENUES BUDGET
TAXES LEVIED BY CITY
General Property Tax 26,605,671 27,885,268 28,786,800 28,786,800 29,488,165
Municipal Owned Utility 650,000 1,000,000 1,000,000 1,000,000 1,000,000
Snow Removal 27,012 31,605 13,000 33,782 25,000
Weed Cutting 23,251 26,047 17,000 36,348 29,000
Mobile Home Tax 110,369 108,231 109,000 112,830 110,000
Payment in Lieu of Taxes 124,793 53,943 118,000 123,933 118,000
TOTAL TAXES LEVIED 27,541,096 29,105,094 30,043,800 30,093,693 30,770,165
LICENSES & PERMITS
Heating 116,070 71,204 90,000 85,000 82,000
Liquor License 123,788 127,024 125,000 137,276 130,000
Cigarette License 11,207 9,360 10,000 7,575 8,000
Sundry License 38,246 38,470 38,000 41,613 40,000
Electric Permits 105,105 85,378 100,000 92,415 91,500
Building Permits 308,884 234,859 250,000 256,153 258,000
Plumbing Permits 99,299 73,272 90,000 79,269 81,000
Flammable Tank Fees 500 320 2,000 585 500
Housing Fees 3,660 3,615 3,200 3,615 3,600
Code Seals & Plannning Fees 1,230 525 700 805 700
Zoning Ordinances 51,453 41,506 46,000 43,720 43,000
TOTAL LICENSES & PERMITS 859,442 685,533 754,900 748,026 738,300
FINES & COSTS
County Court 276,456 278,503 281,500 296,996 300,000
Police Department 396,333 462,455 450,000 428,173 500,000
Penalties 86,498 77,051 82,000 76,323 76,000
TOTAL FINES & COSTS 759,287 818,009 813,500 801,492 876,000
STATE & COUNTY AIDS
Town Aid - Cable TV 8,654 6,762 9,000 14,200 9,600
State Aid - Elections 0 3,847 0 0 0
Town Ambulance Aid 169,389 71,400 71,300 71,554 73,000
Aid to Local Streets 3,006,134 3,027,523 2,909,500 2,909,903 2,967,700
Municipal Services 1,356,188 1,252,757 1,178,800 1,191,433 1,119,000
State Shared Aids 11,086,173 11,085,640 10,779,700 10,782,702 10,781,100
State/Federal Emergency Assistance 263,299 56,591 0 0 0
State Aids-Parks/Forestry 0 2,532 0 0 0
State Aids - Fire 45,000 56,867 56,000 60,381 114,000
Aids-Police 186,658 190,000 195,000 277,581 195,000
State Computer Credit 179,659 141,788 135,000 123,502 115,000
Expenditure Restraint 1,212,311 1,211,765 1,217,300 1,202,998 1,198,400
TOTAL STATE & CO. AIDS 17,513,465 17,107,472 16,551,600 16,634,254 16,572,800
USE OF MONEY & PROPERTY
Interest on Investments 946,940 655,410 751,000 363,952 533,000
Interest on Special Assessessments 209,897 199,649 210,000 246,092 235,000
Rent 2,084 85 100 80 100
Sale of Land 0 0 0 0 0
TOTAL USE OF MONEY & PROP.1,158,921 855,144 961,100 610,124 768,100
CITY OF OSHKOSH, WISCONSIN
BUDGET FOR 2011 - REVENUES
130
Exhibit A-28
2008 2009 2010 2010 2011
ACTUAL ACTUAL BUDGETED ACTUAL PROPOSED
REVENUES REVENUES REVENUES REVENUES BUDGET
CHARGES FOR CURRENT SERVICES
Police Department Fees 154,018 168,872 115,000 109,233 115,000
Fire Department Fees 116,204 88,910 109,800 97,981 116,400
Ambulance Fees 2,101,344 2,225,059 2,160,000 2,209,582 2,170,000
Engineering Fees 108,126 14,560 60,000 27,222 60,000
Street Services 96,069 121,773 75,000 146,085 108,500
Electrical Department 85,668 22,600 25,000 41,140 25,000
Sign Department 10,244 4,191 1,500 2,523 2,000
Park Fees 17,818 18,049 17,000 17,438 20,800
City Clerk Fees 6,975 6,585 6,500 6,500 6,500
Community Development 344,554 355,847 404,200 341,951 375,500
Cable Access Fees 13,491 2,845 2,000 2,920 2,500
CATV Revenue 664,040 668,001 665,000 677,576 700,000
Xerox Charges 1,330 0 1,100 0 0
Property Search 23,460 21,025 19,500 18,970 20,000
Hazardous Materials 354 910 1,500 2,374 1,500
Garbage Fees 26,724 17,860 20,000 23,038 23,500
TOTAL CHGS. FOR CUR. SERV.3,770,419 3,737,087 3,683,100 3,724,533 3,747,200
INTERDEPARTMENTAL REVENUES
Materials & Labor - Utilities 321,766 372,604 400,000 345,182 400,000
Sup./Admin. Labor-Utility 318,597 305,571 323,500 288,980 315,200
Accounting Services-Utilities 643,889 619,711 633,400 580,655 591,500
Equipment/Labor Rental - Recycling 594,004 742,348 350,000 373,667 375,000
Computer Services - Utilities 130,800 153,500 158,100 158,100 162,800
Water G.O. Bond Abatement 1,747,363 1,781,910 1,843,000 1,841,088 1,619,200
Sewer G.O. Bond Abatement 2,145,399 2,020,501 2,023,000 2,020,703 1,768,700
Storm G.O. Bond Abatement 436,706 566,108 1,077,200 1,076,743 1,086,900
Parking G.O. Bond Abatement 65,052 63,086 61,000 60,603 57,900
Ind. Dev. G.O. Bond Abatement 284,969 330,991 375,400 457,582 423,000
TIF Districts G.O. Bond Abatement 3,786,668 3,690,256 3,699,900 3,693,977 3,222,400
Golf Course G.O. Bond Abatement 127,980 1,126,742 6,000 5,999 6,000
Centre G.O. Bond Abatement 0 0 233,400 271,186 211,900
Cable TV G.O. Bond Abatement 74,390 73,736 73,800 72,317 69,900
Build America Bond Credits 294,161 431,600
Insurance Fund Rate Equalization 0 0 583,300 0 442,400
Engineering Fees-Consttruction 385,318 1,076,677 600,000 1,455,750 600,000
TOTAL INTER. DEP. REV.11,062,901 12,923,741 12,441,000 12,996,693 11,784,400
UNCLASSIFIED
Sundry Revenue 220,121 162,441 110,000 203,036 175,000
Bond Proceeds 30,000 0 30,000 0 0
Approp. from Sinking Fund 200,000 200,000 375,000 0 375,000
TOTAL UNCLASSIFIED 450,121 362,441 515,000 203,036 550,000
TOTAL REVENUES 63,115,652 65,594,521 65,764,000 65,811,851 65,806,965
131
CITY OF OSHKOSH EXHIBIT A-29
(1 OF 4)
2011 LEVY - 2010 TAX RATE
State
0.687
County
23.040%
City Tax
34.171%
PER $1,000 2010 2009 INCREASE
OF TAXES TAX RATE TAX RATE (DECREASE)
State 0.687 % $ 0.173 $ 0.174 $ (0.001)
County 23.040 5.804 5.688 0.116
Area Schools 34.901 8.792 8.099 0.693
Area Vocational 7.201 1.814 1.757 0.057
City Tax 34.171 8.608 8.399 0.209
100.000 $ 25.191 $ 24.117 $ 1.074
State Credit 1.245 1.264 (0.019)
$23.946 $22.853 $1.093
Area Schools
34.901%
Area
Vocational
7.201%
132
CITY OF OSHKOSH EXHIBIT A-29
(2 OF 4)
SOURCE OF FUNDS
Property Tax Levy
44.81%
Other Tax Revenue
1.95%
Aid to Local Streets
Other State &
County Aids
2.47%
Licenses, Permits,
Fines
2.45%
Interdepartmental
Charges
17.91%
Interest on
Investments /
Special Assessments
1.17%
Miscellaneous
Revenue
0.84%
Charges for Services
5.69%
2011 2010 INCREASE
WHERE THE MONEY COMES FROM AMOUNT PER CENT PER CENT (DECREASE)
Property Tax Levy $ 29,488,165 44.81% 43.77% 1.04 %
Other Tax Revenue 1,282,000 1.95% 1.91% 0.04
State Expenditure Restraint Revenue 1,198,400 1.82% 1.86% (0.04)
State Shared Revenue 10,781,100 16.38% 16.39% (0.01)
Aid to Local Streets 2,967,700 4.51% 4.42% 0.09
Other State & County Aids 1,625,600 2.47% 2.50% (0.03)
Licenses, Permits, Fines 1,614,300 2.45% 2.39% 0.06
Interdepartmental Charges 11,784,400 17.91% 18.92% (1.01)
Interest on Investments / Special Assessments 768,100 1.17% 1.46% (0.29)
Miscellaneous Revenue 550,000 0.84% 0.79% 0.05
Charges for Services 3,747,200 5.69% 5.60% 0.09
$65,806,965 100.00%%100.00%%
State Expenditure
Restraint Revenue
1.82%
State Shared
Revenue
16.38%
4.51%
133
CITY OF OSHKOSH EXHIBIT A-29
(3 OF 4)
USE OF FUNDS
Parks
2.9%
Debt Services
25.5%
Miscellaneous
0.8%
General
Government
8.3%
Public Works
12.2%
Community
Development
3.5%
Levy Support
9.7%
2011 2010 INCREASE
WHERE THE MONEY GOES AMOUNT PER CENT PER CENT (DECREASE)
Parks 1,918,800 2.92% 2.69%0.23 %
Debt Services 16,762,400 25.47% 26.10% (0.63)
Miscellaneous 512,100 0.78% 0.79% (0.01)
Police 11,861,900 18.03% 17.42%0.61
Transportation 722,000 1.10% 1.07%0.03
Fire and Ambulance 11,831,900 17.98% 17.40%0.58
General Government 5,467,400 8.31% 9.01% (0.70)
Public Works 8,062,100 12.25% 12.42% (0.17)
Community Development 2,297,400 3.49% 2.62%0.87
Levy Support 6,370,965 9.68% 10.48% (0.80)
$65,806,965 100.00%100.00%
Police
18.0%
Transportation
1.1%
Fire and
Ambulance
18.0%
8.3%
134
CITY OF OSHKOSH EXHIBIT A-29
(4 OF 4)
2011 BUDGET - HOW THE FUND ARE EXPENDED
Payroll - Direct Labor
39.99%
Debt Retirement
22.92%
Contractual Services
8.40%
Utilities
3.10%
Materials & Supplies
4.65%Capital Outlay
1.10%
AMOUNT PER CENT
Payroll - Direct Labor $ 29,245,000 39.99 %
Agency Funds 20,365 0.03
Payroll - Indirect Labor 13,661,000 18.68
Fixed Charges 826,700 1.13
Debt Retirement 16,762,400 22.92
Contractual Services 6,135,800 8.40
Utilities 2,269,400 3.10
Materials & Supplies 3,404,000 4.65
Capital Outlay 807,600 1.10
$73,132,265 100.00 %
Agency Funds
0.03%
Payroll - Indirect
Labor
18.68%
Fixed Charges
1.13%
135