HomeMy WebLinkAbout2017CAFRCity of
Oshkosh
ANNUAL FINANCIAL REPORT
Including Auditor’s Report
For the fiscal year ending
December 31, 2017
City of Oshkosh, Wisconsin
DECEMBER 31, 2017
Table of Contents
INTRODUCTORY SECTION
Letter of Transmittal 1
Council Members and Principal Officers 4
Organizational Chart 5
The City 6
INDEPENDENT AUDITORS’ REPORT 10
MANAGEMENT’S DISCUSSION AND ANALYSIS 12
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements
Statement of Net Position 22
Statement of Activities 23
Fund Financial Statements
Balance Sheet -Governmental Funds 25
Statement of Revenues, Expenditures and Changes in Fund Balances -Governmental Funds 28
Statement of Revenues, Expenditures and Changes in Fund Balance -
Budget and Actual -General Fund 31
Statement of Net Position -Proprietary Funds 32
Statement of Revenues, Expenses and Changes in Net Position -Proprietary Funds 36
Statement of Cash Flows -Proprietary Funds 38
Statement of Fiduciary Net Position -Fiduciary Funds 42
Notes to Basic Financial Statements 43
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Funding Progress -Other Postemployment Benefit Plan 77
Schedule of Employer Contributions -Other Postemployment Benefit Plan 78
Schedule of Proportionate Share of Net Pension Liability (Asset) -Wisconsin Retirement System 79
Schedule of Contributions -Wisconsin Retirement System 79
Notes to Required Supplementary Information 79
City of Oshkosh, Wisconsin
DECEMBER 31, 2017
SUPPLEMENTARY INFORMATION
Combining Balance Sheet -Nonmajor Governmental Funds 80
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Governmental Funds 95
Combining Statement of Net Position -Nonmajor Enterprise Funds 110
Combining Statement of Revenues, Expenses and Changes in Net Position -Nonmajor Enterprise Funds 112
Combining Statement of Cash Flows -Nonmajor Enterprise Funds 114
Combining Statement of Net Position -Internal Service Funds 116
Combining Statement of Revenues, Expenses and Change in Net Position -Internal Service Funds 117
Combining Statement of Cash Flows -Internal Service Funds 118
STATISTICAL SECTION
Net Position 119
Changes in Net Position 120
Fund Balances, Governmental Funds 122
Changes in Fund Balance, Governmental Funds 123
Assessed and Estimated Actual Value of Taxable Property 124
Property Tax Rates –Direct and Overlapping Governments 125
Principal Taxpayers 126
Property Tax Levies and Collections 127
Outstanding Debt by Type 128
Ratios of Net General Bonded Debt Outstanding 129
Direct and Overlapping Governmental Activities Debt 130
Legal Debt Margin Information 131
Pledged-Revenue Coverage
Water Revenue Bonds 132
Sewer Revenue Bonds 133
Storm Water Revenue Bonds 134
Demographic and Economic Statistics 135
Principal Employers 136
Full-time Equivalent City Government Employees by Function / Program 137
Capital Asset Statistics by Function / Program 138
Operating Indicator by Function / Program 139
Economics –Population, Building Permits, and Utility Customers 140
New Dwelling Units Constructed 141
City of Oshkosh, Wisconsin
DECEMBER 31, 2017
Utility Information 142
Budgeted Revenues 145
Operating Budget by Function 148
Pie Charts -
Levy Rate 150
Source of Funds (Where the Money Comes From)151
Use of Funds (Where the Money Goes)152
Use of Funds by Function (How the Money Goes)153
ADDITIONAL INDEPENDENT AUDITORS’ REPORT FOR BASIC FINANCIAL STATEMENTS
Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and
Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards 154
INTRODUCTORY SECTION
1
DATE, 2018
August 20, 2018
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, 2017, 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,
rests 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 of 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 an 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.
All internal control evaluations occur within the above framework. I believe that the City's internal accounting
controls adequately safeguard assets and provide reasonable assurance of proper recording of financial
transactions.
Budgetary control is maintained at the department 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 the
departmental balances are not released until additional appropriations are made available. Open
encumbrances are reported as reservations of fund balance as of December 31, 2017.
City of Oshkosh
215 Church Ave., PO Box 1130
Oshkosh, WI 54903-1130
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THE REPORTING ENTITY AND ITS SERVICES
The City's government consists of a City Manager who is employed by the Mayor and Council of 6 members
who are elected at large to a two term-year term.
The City provides a full range of municipal services contemplated by Statute or character. This includes police,
fire, streets and sanitation, 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 expenditures/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. This data for the City of
Oshkosh at the end of 2017 was:
AMOUNT
RATIO OF DEBT TO
EQUALIZED VALUE DEBT PER CAPITA
Direct Bonded Debt $136,799,914 3.55%$2053
Outstanding general obligation bonds at December 31, 2017 totaled $136,799,914. Below is a chart that includes
all general obligation debt by activity:
On July 6, 2017, $5,440,000 of General Obligation Corporate Purpose Bonds, and $5,830,000 of General
Obligation Promissory Notes were sold at a net true interest rate of 2.6637%, and 1.8937% respectively.
General,
$89,603,027
Transit ,
$1,304,260
Water,
$5,519,764
Sewer,
$7,754,347
Storm water,
$6,198,853
Parking ,
$25,000
TIF Districts,
$23,154,663
Oshkosh Redevelopment,
$2,125,000 Industrial Park ,
$1,115,000
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Assessed valuation of $3,931,778,200 represented an increase of 4.22% from the preceding year.
The City’s investment rating by Moody’s Investors Service as of December 31, 2017 was an Aa3 rating.
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. All audit requirements have been complied with and the
auditor's opinions have been included in this report. The unmodified opinions expressed by the
auditor, on the City's financial statements, is an assertion that there have been no irresolvable
restrictions on the scope of the auditors’ examination and the auditors have no significant exceptions
as to the accounting principles reflected in the financial statements, the consistency of application of
accounting principles, and the adequacy of information disclosures in the financial statements.
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
Trena Larson
TRENA LARSON, Director of Finance
JENNIFER L. MESSERSCHMIDT,CPA, Assistant Director of Finance
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CITY OF OSHKOSH
COUNCIL MEMBERS AND PRINCIPAL OFFICERS
COUNCIL MEMBERS
Name Title
Steve Cummings Mayor
Lori Palmeri Deputy Mayor
Debra Allison-Aasby Council Member
Jake Krause Council Member
Matt Mugerauer Council Member
Tom R. Pech, Jr. Council Member
Steven Herman Council Member
PRINCIPAL OFFICERS
Name Title
Mark A. Rohloff City Manager
Trena Larson Director of Finance
Jennifer L. Messerschmidt Assistant Director of Finance
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ORGANIZATIONAL CHART
The Voters
Mayor &
City Council
City Manager
Administrative
Services City Clerk
Community
Development Finance
Fire Legal
Library Museum
Parks Police
Public Works Transportation
5
ORGANIZATIONAL CHART
The Voters
Mayor &
City Council
City Manager
Administrative
Services City Clerk
Community
Development Finance
Fire Legal
Library Museum
Parks Police
Public Works Transportation
6
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 66,717.
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:
Name Title
Expiration
of Term
Steve Cummings Mayor 2019
Lori Palmeri Deputy Mayor 2020
Debra Allison-Aasby Council Member 2019
Steve Herman Council Member 2020
Jake Krause Council Member 2019
Matt Mugerauer Council Member 2020
Thomas R. Pech, Jr.Council Member 2019
CITY ADMINISTRATION
Mayor Steve Cummings is currently serving his second, two-year term as Mayor.
He served as Deputy Mayor in 2012 and has been a member of the Council for 6 years.
He is the Council representative on the Landmarks Commission and a member of the Plan Commission and is a
past member of Urban Wildlife Committee. Steve is a Board Member of the Oshkosh Zoological Society, the
Winnebago County Historical & Archeological Society and Evergreen Village. Steve board member of
GO-HNI. He chairs the RDA and is a member of the East Central Wisconsin Regional Planning Commission and
a member on the Executive Board of the Wisconsin Procurement Institute.
Mayor Cummings has lived in Oshkosh his entire life. He graduated from Oshkosh High School and attended
the University of Wisconsin -Oshkosh. After serving in the United States Marine Corps., he returned to Oshkosh
to pursue a career in advertising and marketing. He was an advertising manager and a director of marketing for
Mercury Marine in Fond du Lac for close to 20 years. He resigned from Mercury in 1987 to purchase Geer
Murray Advertising in Oshkosh. Many of his clients were Oshkosh based companies such as Leach Company,
the Oshkosh Hilton and C.R. Meyer. In that time, he created marketing communications materials on a pro bono
basis for a number of Oshkosh organizations including Oshkosh Public Museum, Oshkosh Area Humane
Society, Paine Art Center and Gardens, Oshkosh Boys and Girls Club, Mercy Medical Center Foundation and
Oshkosh Convention and Visitors Bureau. He is also a former regional chair for Children's Hospital of Wisconsin.
He earned a LEAN Lead Certificate from the Milwaukee School of Engineering and is a 2012 graduate of
Leadership Oshkosh. Presently, Steve is a Realtor with First Weber Group.
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Both Steve and his wife, Dede, have deep roots in the community being the fifth generation of their respective
families to call Oshkosh home. They share a love of history and to that end; have resided in an 1855 Greek
revival farmhouse the past 42 years. They have two children. Anne, who lives in California, and Adam, who
resides on a small family farm west of Oshkosh once owned by Steve's aunt and uncle. They became
grandparents in June of 2014 with the birth of their first grandchild, Oliver. Steve and his two English Springer
Spaniels, Bailey and Murphy, are enthusiastic Hosta gardeners. The Cummings family is members of the
Oshkosh Yacht Club.
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, Trena Larson,is responsible for the following divisions: Finance,Collections,
Accounting, Payroll, Parking, and Water/Sewer/Storm Water Utilities. Assists the City Manager in preparing the
City Budget and is responsible for the administration of budgeted funds. Prior to her appointment as Director
of Finance/Treasurer, Ms. Larson was the Administrative Coordinator and Finance Director for Adams County.
Ms. Larson has a Bachelor of Business Administration degree, with a major in Organizational Management from
Viterbo University.
The Assistant Director of Finance, Jennifer Messerschmidt, 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,Ms. Messerschmidt was a Clerk/Treasurer for another municipality. Ms. Messerschmidt has a B.A. with
a major in Accounting and a minor in Business from the Lakeland College. In addition, Jennifer is a Certified
Public Accountant.
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 100 sworn officers and
29 full and part-time civilian employees, 10 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.
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FIRE DEPARTMENT –The Fire Department provides fire protection to residents within the City and paramedic
ambulance service to the City and surrounding communities. The Fire Department, which is governed by a five
member Police and Fire Commission comprised of citizens appointed to five-year terms by the Mayor,
maintains six fire stations, which house the department’s 22 pieces of fire, safety and rescue equipment. The
department has 108 full-time employees.
PUBLIC LIBRARY –The Oshkosh Public Library serves approximately 34,000 cardholders from Oshkosh and
surrounding towns through the main library, library website, and deposit collections. Over 300,000 items in the
collections are checked out over 1,000,000 times in a year and over 400,000 visits are made to 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. The Museum is governed by an eleven member Board which includes the Superintendent of
Schools, and School Board President.
DEPARTMENT OF PARKS –The Department of Parks develops and maintains the City’s 440 acres of park and
public areas including recreational facilities, Lakeshore Municipal Golf Course, urban Forestry, Riverside
Cemetery, Leach Amphitheater, Pollock Community Water Park, Menominee Park Zoo, multi-purpose trail
systems, river walk, round-a-bouts, and Seniors Center.
MASS TRANSIT –The Transit System (GO Transit), consists of 16 buses providing service over nine fixed-routes
in the City of Oshkosh. An additional intercity route provides service between Oshkosh and Neenah, WI. The
intercity route is provided by a contractor. The buses travel over 550,000 miles annually. The transit system
also provides four paratransit programs for the community through a service contract. In total, over 1 million
rides are provided each year. A seven-member Transit Advisory Board and the Oshkosh Common council
govern the activities of GO Transit.
PARKING UTILITY –The Parking Utility operates nineteen off-street parking lots, containing 1,679 parking stalls.
There are seventeen off-street parking lots in the central business district and two off-street lots in the Oregon
Street business area. In 1987, a Business Improvement District was formed in the downtown area. The BID
assists in the financing 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.
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The Sanitation Division provides for collection of solid waste material from residential properties which are one
to four units in size. 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 potable water 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 Water Distribution Division is in charge of daily and emergency
maintenance of all water mains, hydrants, services, and meters.
The Sewer Utility operates a 20 million gallon per day (MGD) Wastewater Treatment Facility that provides
secondary treatment and discharges the treated wastewater to the Fox River.
The Storm Water Utility is responsible for managing storm water runoff generated within the City of Oshkosh.
In addition to providing flood reduction benefits, the Storm Water Utility is required to comply with the
requirements of the Federal Clean Water Act, administered by the Wisconsin Department of Natural Resources.
These requirements include reducing the amount of pollution discharging into Lake Winnebago from the storm
water generated within the City of Oshkosh.
DEPARTMENT OF TRANSPORTATION –The Department of Transportation maintains and installs all signs,
pavement markings, lighting systems, fiber optics,and traffic signals for public streets, parks and city buildings.
CITY EMPLOYEES
The City employs approximately 519 full-time, 86 part-time, and 157 seasonal employees. Of which 13 are
officials or administrators, 42 are supervisors/managers, and 202 employees are involved in protective services.
Certain groups of employees of the City, including Fire, Police, and Transit are organized into labor unions for
purposes of conducting collective bargaining with the City. The contracts are in effect through 2020.All eligible
full-time and part-time City employees participate in the Wisconsin Retirement System, with limited seasonal
staff also eligible and enrolled. Pursuant to State Law, annual contribution rates are set in June each year by an
independent consulting actuary and approved by the Employee Trust Funds Board. The rates based on
assumptions concerning mortality, disability, interest rates,retirement age, retirement formula factor and the
earnings, age, number of people in each category etc. The City’s total contribution to the Retirement Fund was
$3,479,601 for the year ended December 31, 2017.
In addition to the above referenced retirement fund, the State administers a plan for four 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, 2017 was $35,875.
10schencksc.com
Schenck SC
Independent auditors’ report
To the Common Council
City of Oshkosh, Wisconsin
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the governmental activities, the business-type activities, the
discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of
Oshkosh, Wisconsin (the “City”) as of and for the year ended December 31, 2017, and the related notes to the financial
statements, which collectively comprise the City’s basic financial statements as listed in the table of contents.
MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
accounting principles generally accepted in the United States of America; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud or error.
AUDITORS’ RESPONSIBILITY
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in
accordance with auditing standards generally accepted in the United States of America and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the
auditors consider internal control relevant to the City’s preparation and fair presentation of the financial statements in
order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the City’s internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
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 discretely presented component unit, each
major fund, and the aggregate remaining fund information of the City as of December 31, 2017, and the respective
changes in financial position and, where applicable, cash flows thereof and the budgetary comparison for the General
Fund for the year then ended in accordance with accounting principles generally accepted in the United States of
America.
11
OTHER MATTERS
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and
analysis on pages 12 through 21 and the schedules relating to pensions and other postemployment benefits on pages
77 through 79 be presented to supplement the basic financial statements. Such information, although not 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.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
City’s basic financial statements. The financial information listed in the table of contents as supplementary information
is presented for purposes of additional analysis and is not a required part of the basic financial statements.
The supplementary information is the responsibility of management and was derived from and relates directly to the
underlying accounting and other records used to prepare the basic financial statements. Such information has been
subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the basic financial statements or to the basic financial statements themselves, and other
additional procedures in accordance with auditing standards generally accepted in the United States of America. In our
opinion, the supplementary information is fairly stated in all material respects in relation to the basic 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.
REPORT ON SUMMARIZED FINANCIAL INFORMATION
We have previously audited the City’s 2016 financial statements, and our report dated August 15, 2017, expressed
unmodified opinions on those respective financial statements of the governmental activities, the business-type
activities, the discretely presented component unit, each major fund and the aggregate remaining fund information. In
our opinion, the summarized comparative information presented herein as of and for the year ended December 31,
2016, is consistent, in all material respects, with the audited financial statements from which it has been derived.
OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING STANDARDS
In accordance with Government Auditing Standards, we have also issued our report dated August 20,2018, 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 in considering the City’s
internal control over financial reporting and compliance.
Certified Public Accountants
Green Bay, Wisconsin
August 20,2018
MANAGEMENT’S DISCUSSION AND ANALYSIS
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
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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, 2017. The analysis focuses on the
City’s financial performance as a whole.
Financial Highlights
The assets and deferred outflows of resources of the governmental activities of the City exceeded its liabilities and
deferred inflows of resources as of December 31, 2017 and 2016 by $99,393,743 and $88,387,744 (net position),
respectively. Of this amount, $33,786,672 in 2017 and $26,329,710 in 2016 (unrestricted net position), respectively,
may be used to meet the City’s ongoing obligations to citizens and creditors.
The City’s governmental activities net position increased by $11,005,999 and decreased $4,958,430,in 2017 and 2016
respectively. Several factors contributed to the overall changes.
The property tax rate increased 2.1% and 2.4%, respectively,per $1,000 of property value for the years ended
December 31, 2017 and 2016, respectively.
As of December 31, 2017 and 2016, the City’s governmental funds reported combined ending fund balances of
$52,263,708 and $44,005,326, an increase of $8,258,382 for 2017, and a decrease of $8,949,047 for 2016.
Approximately 33%and 25% of this total amount, $17,460,771 and $11,118,736 is available for spending at the City’s
discretion (assigned and unassigned fund balance), respectively.
As of December 31, 2017 and 2016, unassigned fund balance for the general fund was $10,230,445 and $8,427,707,
or approximately 24%and 20% of total general fund expenditures, respectively.
The City’s total general-obligation debt decreased by $2,076,405 (1.5%) during 2017. The key factor in this decrease
was the issuance of $12,770,000 of general obligation debt and $14,846,405 of principal payments of general
obligation debt.
The City’s total general-obligation debt decreased by $6,534,212 (4.5%) during 2016. The key factor in this decrease
was the issuance of $30,101,300 of general obligation debt and $36,635,512 of principal payments of general
obligation debt.
Overview of the Basic Financial Statements
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements. The City’s
basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial
statements, and 3) notes to the basic financial statements. This report also contains 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 government-wide
statements are made up of the statement of net position and the statement of activities.
The statement of net position presents information on all of the City’s assets,liabilities,and deferred outflows and inflows
of resources,with the difference being reported as net position. Over time, increases or decreases in net position 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 position changed during the most recent
year. All changes in net position 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., uncollected taxes and earned but unused vacation
leave.)
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
13
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,community development, and TIF districts. The business-type activities of the City include mass transit
services, water utility, sewer utility, parking utility, Oshkosh redevelopment project, industrial park, golf course, and storm
water utility.
The government-wide financial statements include not only the City itself (known as the primary government), but also a
legally separate Redevelopment Authority (component unit)for which the City is financially accountable. Financial
information for the component unit is 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.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful
to compare the information presented for governmental funds with similar information presented for governmental
activities in the government-wide financial statements. This comparison may help readers 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 68 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,debt service fund and special assessment improvement capital projects fund which are considered to be
major funds. Data from the other 65 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,special revenue funds and
certain capital project 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 9
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.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
14
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 five 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.
Required Supplementary Information. The required supplementary information provides information and disclosures
related to the City’s other post-employment benefits and pension plan. The required supplementary information can be
found immediately following the footnotes.
Other information. The combining statements referred to earlier in connection with nonmajor governmental funds,
nonmajor enterprise funds and internal service funds are presented as supplementary information immediately following
the required supplementary information.
Government-wide Financial Analysis
Net position. As noted earlier, net position may serve over time as a useful indicator of a government’s financial
position. In the case of the City, assets and deferred outflows of resources exceeded liabilities and deferred inflows of
resources by $298,599,941 and $274,341,801 at the close of 2017 and 2016, respectively.
Governmental Business-type
Activities Activities Total
2017 2017 2017
Current and other assets 121,768,286$ 90,353,032$ 212,121,318$
Capital assets 152,090,627 324,193,881 476,284,508
Total assets 273,858,913 414,546,913 688,405,826
Deferred outflows of resources 17,871,903 3,306,678 21,178,581
Long-term liabilities outstanding 127,470,703 213,047,345 340,518,048
Other liabilities 13,477,013 3,433,850 16,910,863 Total liabilities 140,947,716 216,481,195 357,428,911
Deferred inflows of resources 51,389,357 2,166,198 53,555,555
Net position:
Net investment in capital assets 37,227,904 113,691,844 150,919,748
Restricted 28,379,167 12,250,194 40,629,361
Unrestricted 33,786,672 73,264,160 107,050,832
Total net position 99,393,743$ 199,206,198$ 298,599,941$
City of Oshkosh's Net Position
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
15
Governmental Business-type
Activities Activities Total
2016 2016 2016
Current and other assets 110,545,107$ 86,251,997$ 196,797,104$
Capital assets 146,673,166 299,263,145 445,936,311
Total assets 257,218,273 385,515,142 642,733,415
Deferred outflows of resources 25,209,519 4,358,607 29,568,126
Long-term liabilities outstanding 129,507,180 197,220,935 326,728,115
Other liabilities 12,618,566 4,287,596 16,906,162
Total liabilities 142,125,746 201,508,531 343,634,277
Deferred inflows of resources 51,914,302 2,411,161 54,325,463
Net position:
Net investment in capital assets 39,752,753 120,012,568 159,765,321
Restricted 22,305,281 31,949,679 54,254,960
Unrestricted 26,329,710 33,991,810 60,321,520
Total net position 88,387,744$ 185,954,057$ 274,341,801$
City of Oshkosh's Net Position
By far the largest portion of the City’s net position (51%) and (58%)for 2017 and 2016, 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 position (14%)and (20%)for 2017 and 2016, respectively,represents resources that
are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position
($107,050,832) and ($60,321,520)for 2017 and 2016, respectively,may be used to meet the City’s ongoing obligations to
citizens and creditors.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
16
Change in net position. Governmental activities increased the City’s net position by $11,005,999 in 2017 and decreased
by $4,958,430 in 2016. Business-type activities increased the City’s net position by $13,252,141 in 2017 and by $11,933,175
in 2016. Total net position of the City increased in 2017 $24,258,140 and in 2016 by $6,974,745. Key elements of this
change are as follows:
Governmental Business-type
Activities Activities Total
2017 2017 2017
Revenues:
Program revenues:Charges for services 12,375,344$ 42,650,558$ 55,025,902$ Operating grants and contributions 5,548,647 3,189,855 8,738,502 Capital grants and contributions 6,321,824 3,935,617 10,257,441
General revenuesProperty and other taxes 42,544,290 887,524 43,431,814 Grants and contributions not restricted to
specific programs 13,868,473 - 13,868,473 Other 3,185,459 493,595 3,679,054
Total revenues 83,844,037 51,157,149 135,001,186
Expenses:General government 7,136,366 - 7,136,366 Public safety 29,348,673 - 29,348,673 Public works 15,167,905 - 15,167,905 Health and human services 1,076,216 - 1,076,216 Park and recreation 8,881,379 - 8,881,379 Transportation 1,038,006 - 1,038,006 Community development 6,364,471 - 6,364,471 Unclassified 1,310,095 - 1,310,095 Interest of long-term debt 3,479,436 - 3,479,436 Transit utility - 5,115,027 5,115,027 Water utility - 10,466,239 10,466,239 Sewer utility - 11,528,889 11,528,889 Storm water utility - 6,375,794 6,375,794 Other - 3,454,550 3,454,550
Total expenses 73,802,547 36,940,499 110,743,046
Transfers 964,509 (964,509) -
Total expenses and transfers 72,838,038 37,905,008 110,743,046
Change in net position 11,005,999 13,252,141 24,258,140
Net position - January 1, 2017 88,387,744 185,954,057 274,341,801
Net position - December 31, 2017 99,393,743$ 199,206,198$ 298,599,941$
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
17
Governmental Business-type
Activities Activities Total
2016 2016 2016
Revenues:
Program revenues:
Charges for services 11,793,567$ 40,733,504$ 52,527,071$ Operating grants and contributions 5,931,258 3,001,264 8,932,522 Capital grants and contributions 2,731,515 4,208,145 6,939,660 General revenues
Property and other taxes 39,831,984 843,391 40,675,375 Grants and contributions not restricted to
specific programs 13,286,136 - 13,286,136 Other 1,846,668 321,692 2,168,360 Total revenues 75,421,128 49,107,996 124,529,124
Expenses:
General government 7,798,046 - 7,798,046 Public safety 27,967,136 - 27,967,136 Public works 15,386,290 - 15,386,290 Health and welfare 930,952 - 930,952 Park and recreation 8,785,030 - 8,785,030 Transportation 1,092,783 - 1,092,783 Community development 14,892,738 - 14,892,738 Unclassified 662,548 - 662,548 Interest of long-term debt 3,849,290 - 3,849,290 Transit utility - 4,809,392 4,809,392 Water utility - 10,892,066 10,892,066 Sewer utility - 10,825,702 10,825,702 Storm water utility - 6,312,063 6,312,063 Other - 3,350,343 3,350,343
Total expenses 81,364,813 36,189,566 117,554,379
Transfers 985,255 (985,255) -
Total expenses and transfers 80,379,558 37,174,821 117,554,379
Change in net position (4,958,430) 11,933,175 6,974,745
Net position - January 1, 2016 93,346,174 174,020,882 267,367,056
Net position - December 31, 2016 88,387,744$ 185,954,057$ 274,341,801$
City of Oshkosh's Change in Net Position
Property and other taxes increased by $2,756,439 (6.8%) in 2017 and decreased by $641,768 (1.6%)in 2016.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
18
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.
As of December 31, 2017 and 2016, the City’s governmental funds reported combined ending fund balances of
$52,263,708 and $44,005,326, an increase of $8,258,382 in 2017 and a decrease of $8,949,047 in 2016. Of the total fund
balance,($3,466,556) and $(3,966,782)constitutes unassigned fund balance, which is available for spending at the City’s
discretion. The remainder of fund balance is nonspendable, restricted, committed or assigned to indicate that it is not
available for new spending because it has already been committed as follows:
2017 2016
Nonspendable
Inventories and prepaid items 59,300$ 46,778$
Receivables from other funds - 8,022,157
Total nonspendable 59,300$ 8,068,935$
Restricted for
Construction of assets 15,448,351$ 4,891,747$
Debt service 923,371 2,251,808
Special purposes 6,577,972 6,169,377
Trust agreements 10,622,852 9,717,845
Total restricted 33,572,546$ 23,030,777$
Committed to
Special purposes 1,171,091$ 1,786,878$
Assigned to
Construction of assets 20,927,327$ 15,083,683$
Subsequent year's budget - 1,835
Total assigned 20,927,327$ 15,085,518$
City of Oshkosh's Governmental Fund Balances
Details of these fund balance categories can be found in Note 3.J.
The general fund is the chief operating fund of the City. At the end of 2017 and 2016, unassigned fund balance of the
general fund was $10,230,445 and $8,427,707, respectively, while total fund balance reached $10,376,615 and $9,461,979,
respectively. As a measure of the general fund’s liquidity, it may be useful to compare both unassigned fund balance to
total fund expenditures. Unassigned fund balance represents 24% and 20%of total general fund expenditures.
The fund balance of the City’s general fund increased by $914,636 in 2017 and increase by $424,404 in 2016.
The debt service fund has a total fund balance of $923,371 and $760,004, an increase of $163,367 in 2017 and a decrease
of $216,047 in 2016.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
19
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 position of the proprietary funds at the end of the 2017 and 2016 amounted to $73,264,160 and
$33,991,810, respectively. Net position increased $13,252,141 in 2017 and $11,933,175 in 2016.
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 2017 actual revenues were greater than budgeted revenues by $787,189,primarily in intergovernmental revenues.
Actual expenditures were less than budgeted by $411,172, which left a total budget unspent of $1,198,361.
During 2016 actual revenues were less than budgeted revenues by $300,593, primarily in public charges for services.
Actual expenditures were less than budgeted by $724,997, which left a total budget unspent of $424,404.
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, 2017 and 2016, amounted to $476,284,508 and $445,936,311 (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
$30,348,197 or 7% for 2017 and increased by $23,293,819 or 6%for 2016.
Major capital asset acquired or constructed during the years ended 2017 and 2016 include:
The governmental activities include constructed streets in the amount of $6,420,375 and $4,790,034, purchased land
in the amount of $1,027,861 and $0, vehicles in the amount of $981,361 and $2,834,105, and building improvements
and contents in the amount of $3,191,452 and $2,520,940, respectively.
The business-type activities purchased additional land and improvements in the amount of $0 and $0, and
improvements to water, sewer and storm water utilities in the amount of $26,721,574 and $23,454,373, respectively.
Governmental Business-type
Activities Activities Total
2017 2017 2017
Land 21,036,008$ 13,648,461$ 34,684,469$
Construction in progress 2,919,165 18,836,598 21,755,763
Buildings and systems 49,392,579 277,330,816 326,723,395
Machinery and equipment 24,554,709 14,378,006 38,932,715
Infrastructure 54,188,166 - 54,188,166
Total 152,090,627$ 324,193,881$ 476,284,508$
City of Oshkosh's Capital Assets
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
20
Governmental Business-type
Activities Activities Total
2016 2016 2016
Land 20,011,147$ 13,648,461$ 33,659,608$
Construction in progress 2,606,129 13,067,339 15,673,468
Buildings and systems 49,647,286 256,764,054 306,411,340
Machinery and equipment 24,786,499 15,783,291 40,569,790
Infrastructure 49,622,105 - 49,622,105
Total 146,673,166$ 299,263,145$ 445,936,311$
City of Oshkosh's Capital Assets
Long-term debt. At the end of 2017 and 2016, the City had total bonded debt outstanding of $319,602,044 and
$305,908,488,respectively. Of this amount, $136,799,914 and $138,876,319, respectively, comprises debt backed by the
full faith and credit of the government. The remainder of the City’s debt represents bonds secured solely by specified
revenue sources (i.e., revenue bonds).
Governmental Business-type
Activities Activities Total
2017 2017 2017
General obligation debt:
Bonds and notes 112,757,690$ 24,042,224$ 136,799,914$
Revenue bonds - 182,802,130 182,802,130
Total 112,757,690$ 206,844,354$ 319,602,044$
City of Oshkosh's Outstanding Debt
Governmental Business-type
Activities Activities Total
2016 2016 2016
General obligation debt:
Bonds and notes 113,290,096$ 25,586,223$ 138,876,319$
Revenue bonds - 167,032,169 167,032,169
Total 113,290,096$ 192,618,392$ 305,908,488$
City of Oshkosh's Outstanding Debt
The City’s total debt increased by $13,693,556 (4.5%) in 2017 and $13,197,683 (4.5%) in 2016.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
December 31, 2017
21
The City maintains an Aa3 rating from Moody’s Investors Service for its general obligation debt as of December 31, 2017.
The water utility and sewer utility both maintain an Aa3 rating, while the storm water utility maintains an A1 rating from
Moody’s Investors Service for their respective revenue bonds as of December 31, 2017.
State statutes limit the amount of general obligation debt the City may issue to 5% of its total equalized valuation. The
debt limitation for 2017 and 2016 for the City was $196,588,910 and $188,811,265, respectively, which is significantly in
excess of the City’s $136,799,914 and $138,876,319 outstanding general obligation debt.
Economic Factors and Next Year’s Budgets and Rates
The economic condition and outlook of the City has remained fairly stable based on a relatively healthy mix of
manufacturing, tourism, service industry and retail activities which support our tax base.
Inflationary trends in our region compare favorably to national indices.
All of these factors were considered in preparing the City’s budget for the 2018 fiscal year.
Contacting the City’s Financial Management
This financial report is designed to provide a general overview of the City’s finances for all those with an interest in the
City’s finances. Questions concerning any of the information provided in this report or requests for additional financial
information should be addressed to City of Oshkosh Finance Office, P. O. Box 1130, Oshkosh, Wisconsin 54903-1130.
BASIC FINANCIAL STATEMENTS
City of Oshkosh, Wisconsin
STATEMENT OF NET POSITION
DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2016
Component
Unit
Governmental Business-type Totals Redevelopment
Activities Activities 2017 2016 Authority
ASSETS
Cash and investments 77,032,104$ 37,681,005$ 114,713,109$83,272,173$ 131,794$
Receivables
Taxes and special charges 44,225,867 920,600 45,146,467 43,424,991 -
Delinquent taxes 27,280 - 27,280 70,176 -
Accounts 1,923,490 12,817,104 14,740,594 14,263,629 -
Special assessments 9,645,201 - 9,645,201 9,761,176 -
Loans 4,075,888 - 4,075,888 3,973,736 -
Internal balances (15,673,916) 15,673,916 - - -
Due from other governments 251,153 309,315 560,468 565,540 -
Inventories and prepaid items 59,300 2,307,760 2,367,060 2,662,988 -
Assets held for resale - 6,653,016 6,653,016 6,653,016 -
Deposit with GO HNI 201,919 - 201,919 200,000 -
Restricted assets
Cash and investments - 13,990,316 13,990,316 31,949,679 -
Capital assets, nondepreciable 23,955,173 32,485,059 56,440,232 49,333,076 -
Capital assets, depreciable 128,135,454 291,708,822 419,844,276 396,603,235 17,720,778
Total assets 273,858,913 414,546,913 688,405,826 642,733,415 17,852,572
DEFERRED OUTFLOWS OF RESOURCES
Loss on advance refunding 488,506 294,993 783,499 876,057 -
Pension related amounts 17,383,397 3,011,685 20,395,082 28,692,069 -
Total deferred outflows of resources 17,871,903 3,306,678 21,178,581 29,568,126 -
LIABILITIES
Accounts payable 5,011,099 478,188 5,489,287 5,773,853 -
Accrued and other current liabilities 2,230,577 1,129,620 3,360,197 3,505,794 -
Due to other governments 3,920,888 - 3,920,888 3,818,736 -
Accrued interest payable 677,148 1,780,639 2,457,787 2,173,112 -
Special deposits 1,561,301 18,400 1,579,701 1,532,673 -
Unearned revenues 76,000 27,003 103,003 101,994 -
Long-term obligations
Due within one year 12,230,701 15,257,726 27,488,427 33,111,349 -
Due in more than one year 107,386,192 197,401,157 304,787,349 283,097,511 -
Net pension liability 2,248,061 388,462 2,636,523 5,144,203 -
Other postemployment benefits 5,605,749 - 5,605,749 5,375,052 -
Total liabilities 140,947,716 216,481,195 357,428,911 343,634,277 -
DEFERRED INFLOWS OF RESOURCES
Property taxes levied for subsequent
year 44,225,867 920,600 45,146,467 43,424,991 -
Deferred gain on refunding 40,105 14,689 54,794 74,583 -
Pension related amounts 7,123,385 1,230,909 8,354,294 10,825,889 -
Total deferred inflows of resources 51,389,357 2,166,198 53,555,555 54,325,463 -
NET POSITION
Net investment in capital assets 37,227,904 113,691,844 150,919,748 159,765,321 17,720,778
Restricted 28,379,167 12,250,194 40,629,361 54,254,960 -
Unrestricted 33,786,672 73,264,160 107,050,832 60,321,520 131,794
Total net position 99,393,743$ 199,206,198$ 298,599,941$ 274,341,801$ 17,852,572$
The notes to the basic financial statements are an integral part of this statement.
22
City of Oshkosh, Wisconsin
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
Program Revenues
Operating Capital Grants
Charges for Grants and and
Functions/Programs Expenses Services Contributions Contributions
GOVERNMENTAL ACTIVITIES
General government 7,136,366$ 1,600,030$ -$ -$
Public safety 29,348,673 3,323,449 448,381 86,432
Public works 15,167,905 4,351,816 3,437,040 5,348,504
Transportation 1,038,006 32,311 - -
Health and human services 1,076,216 128,185 170,970 -
Culture and recreation 8,881,379 991,340 700,802 -
Conservation and development 6,364,471 1,948,213 791,454 886,888
Unclassified 1,310,095 - - -
Interest and fiscal charges 3,479,436 - - -
Total governmental activities 73,802,547 12,375,344 5,548,647 6,321,824
BUSINESS-TYPE ACTIVITIES
Transit utility 5,115,027 895,265 3,186,261 -
Water utility 10,466,239 15,122,194 - 431,897
Sewer utility 11,528,889 13,530,955 - 855,219
Storm water utility 6,375,794 9,254,565 - 2,648,501
Parking utility 284,090 167,231 - -
Oshkosh redevelopment project 1,687,942 1,822,968 - -
Industrial park 50,751 27,784 - -
Golf course 547,734 508,982 3,594 -
Inspection services 884,033 1,320,614 - -
Total business-type activities 36,940,499 42,650,558 3,189,855 3,935,617
Total primary government 110,743,046$ 55,025,902$ 8,738,502$ 10,257,441$
Component Unit
Redevelopment Authority 6,006$ -$ -$ -$
General revenues
Taxes
Property taxes, levied for general purposes
Property taxes, levied for debt service
Property taxes, tax increments
Other taxes
Federal and state grants and other contributions
not restricted to specific functions
Interest and investment earnings
Miscellaneous
Gain on sale of asset
Transfers
Total general revenues and transfers
Change in net position
Net position - January 1
Net position - December 31
The notes to the basic financial statements are an integral part of this statement.
23
Net (Expense) Revenue Component
and Changes in Net Position Unit
Governmental Business-type Totals Redevelopment
Activities Activities 2017 2016 Authority
(5,536,336)$ -$ (5,536,336)$ (6,359,325)$ -$
(25,490,411) - (25,490,411) (24,161,165) -
(2,030,545) - (2,030,545) (4,963,589) -
(1,005,695) - (1,005,695) (1,018,731) -
(777,061) - (777,061) (587,767) -
(7,189,237) - (7,189,237) (7,021,771) -
(2,737,916) - (2,737,916) (12,284,287) -
(1,310,095) - (1,310,095) (662,548) -
(3,479,436) - (3,479,436) (3,849,290) -
(49,556,732) - (49,556,732) (60,908,473) -
- (1,033,501) (1,033,501) (698,154) -
- 5,087,852 5,087,852 4,524,616 -
- 2,857,285 2,857,285 2,435,485 -
- 5,527,272 5,527,272 5,047,162 -
- (116,859) (116,859) (100,647) -
- 135,026 135,026 426,318 -
- (22,967) (22,967) (22,710) -
- (35,158) (35,158) (43,893) -
- 436,581 436,581 185,170 -
- 12,835,531 12,835,531 11,753,347 -
(49,556,732) 12,835,531 (36,721,201) (49,155,126) -
- - - - (6,006)
25,213,100 887,524 26,100,624 24,559,476 -
10,323,676 - 10,323,676 9,851,809 -
6,652,124 - 6,652,124 5,895,596 -
355,390 - 355,390 368,494 -
13,868,473 - 13,868,473 13,286,136 -
1,898,404 493,595 2,391,999 1,639,680 -
1,136,780 - 1,136,780 476,935 857
150,275 - 150,275 51,745 -
964,509 (964,509) - - -
60,562,731 416,610 60,979,341 56,129,871 857
11,005,999 13,252,141 24,258,140 6,974,745 (5,149)
88,387,744 185,954,057 274,341,801 267,367,056 17,857,721
99,393,743$ 199,206,198$ 298,599,941$ 274,341,801$ 17,852,572$
24
City of Oshkosh, Wisconsin
BALANCE SHEET
GOVERNMENTAL FUNDS
DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2016
Special Other
Assessment Governmental
General Debt Service Improvement Funds
ASSETS
Cash and investments 15,179,379$ 923,371$ -$ 58,178,232$
Receivables
Taxes and special charges 18,403,180 10,985,500 - 14,846,267
Accounts 1,235,350 - - 688,140
Special assessments 440,026 - 9,205,175 -
Loans - - - 4,075,888
Due from other funds 85,654 - - 1,619,011
Due from other governments 1,153 - - 250,000
Inventories and prepaid items 59,300 - - -
Deposit with GO HNI - - - 201,919
Total assets 35,404,042$ 11,908,871$ 9,205,175$ 79,859,457$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 174,364$ -$ -$ 4,834,197$
Accrued and other current liabilities 2,230,577 - - -
Due to other funds 4,243,302 - 2,273,501 10,861,778
Due to other governments - - - 3,920,888
Special deposits 3,284 - 1,349,132 208,885
Unearned revenues - - - 76,000
Total liabilities 6,651,527 - 3,622,633 19,901,748
Deferred inflows of resources
Property taxes levied for subsequent
year 18,375,900 10,985,500 - 14,846,267
Special charges assessed - - 9,219,462 510,800
Total deferred inflows of resources 18,375,900 10,985,500 9,219,462 15,357,067
Fund balances
Nonspendable 59,300 - - -
Restricted - 923,371 - 32,649,175
Committed - - - 1,171,091
Assigned 86,870 - - 20,840,457
Unassigned 10,230,445 - (3,636,920) (10,060,081)
Total fund balances 10,376,615 923,371 (3,636,920) 44,600,642
Total liabilities, deferred inflows
of resources, and fund balances 35,404,042$ 11,908,871$ 9,205,175$ 79,859,457$
The notes to the basic financial statements are an integral part of this statement.
25
Totals
2017 2016
74,280,982$ 51,267,233$
44,234,947 42,589,243
1,923,490 2,096,682
9,645,201 9,761,176
4,075,888 3,973,736
1,704,665 12,478,281
251,153 207,766
59,300 46,778
201,919 200,000
136,377,545$ 122,620,895$
5,008,561$ 3,974,169$
2,230,577 2,505,794
17,378,581 14,987,015
3,920,888 3,818,736
1,561,301 1,514,273
76,000 76,000
30,175,908 26,875,987
44,207,667 42,519,067
9,730,262 9,220,515
53,937,929 51,739,582
59,300 8,068,935
33,572,546 23,030,777
1,171,091 1,786,878
20,927,327 15,085,518
(3,466,556) (3,966,782)
52,263,708 44,005,326
136,377,545$ 122,620,895$
26
THIS PAGE LEFT BLANK INTENTIONALLY
City of Oshkosh, Wisconsin
BALANCE SHEET
GOVERNMENTAL FUNDS
DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2016
2017 2016
RECONCILIATION TO THE STATEMENT OF NET POSITION
Total fund balances as shown on previous page 52,263,708$ 44,005,326$
Amounts reported for governmental activities in the statement of net position
are different because:
Capital assets used in governmental activities are not current financial
resources and therefore are not reported in the funds.152,090,627 146,673,166
Other long-term assets are not available to pay current period expenditures
and therefore are deferred in the funds.9,730,262 9,220,515
Net position of the internal service fund is reported in the statement of net
position as governmental activities 2,748,584 2,888,729
Some deferred outflows and inflows of resources reflect changes in
long-term liabilities and are not reported in the funds.
Loss on advance refunding 488,506 544,262
Gain on advance refunding (40,105) (54,157)
Deferred outflows related to pensions 17,383,397 24,665,257
Deferred inflows related to pensions (7,123,385) (9,322,678)
Long-term liabilities are not due and payable in the current period and,
therefore, are not reported in the funds.
Bonds and notes payable (112,757,690) (113,290,096)
Premium on debt (2,553,434) (2,059,579)
Compensated absences (4,305,769) (4,352,539)
Net pension liability (2,248,061) (4,429,914)
Other postemployment benefit (5,605,749) (5,375,052)
Accrued interest on long-term obligations (677,148) (725,496)
Net position of governmental activities as reported on the statement
of net position (see page 22)99,393,743$ 88,387,744$
The notes to the basic financial statements are an integral part of this statement.
27
City of Oshkosh, Wisconsin
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
Special Other
Assessment Governmental
General Debt Service Improvement Funds
REVENUES
Taxes 17,817,570$ 10,323,676$ -$ 14,198,724$
Special assessments - - 2,683,365 135,910
Intergovernmental 16,010,266 - - 3,364,894
Licenses and permits 973,901 - - 329
Fines and forfeits 781,434 - - 18,046
Public charges for services 2,901,819 - - 908,056
Intergovernmental charges for services 4,463,334 - - -
Miscellaneous 768,765 62,718 - 7,724,102
Total revenues 43,717,089 10,386,394 2,683,365 26,350,061
EXPENDITURES
Current
General government 6,384,666 - - -
Public safety 25,869,003 - - 302,421
Public works 5,909,087 - - 3,277,550
Transportation 723,741 - - 907,997
Health and human services - - - 5,385,542
Culture and recreation 2,058,140 - - 3,153,929
Conservation and development 1,317,316 - - -
Unclassified 1,251,952 - - -
Debt service
Principal - 8,111,245 - 3,386,161
Interest and fiscal charges 4,823 2,857,816 - 812,734
Capital outlay - - 3,356,456 12,541,818
Total expenditures 43,518,728 10,969,061 3,356,456 29,768,152
Excess of revenues over (under)
expenditures 198,361 (582,667) (673,091) (3,418,091)
OTHER FINANCING SOURCES (USES)
Long-term debt issued - 65,200 2,910,000 7,989,800
Premium on debt issued - 680,834 - -
Proceeds from sale of capital assets - - - 123,527
Transfers in 1,000,000 - - 11,527,625
Transfers out (283,725) - - (11,279,391)
Total other financing sources (uses)716,275 746,034 2,910,000 8,361,561
Net change in fund balances 914,636 163,367 2,236,909 4,943,470
Fund balances - January 1 9,461,979 760,004 (5,873,829) 39,657,172
Fund balances - December 31 10,376,615$ 923,371$ (3,636,920)$ 44,600,642$
The notes to the basic financial statements are an integral part of this statement.
28
Totals
2017 2016
42,339,970$ 39,678,624$
2,819,275 1,745,129
19,375,160 19,018,924
974,230 854,691
799,480 697,837
3,809,875 4,194,606
4,463,334 4,432,013
8,555,585 3,895,923
83,136,909 74,517,747
6,384,666 6,360,784
26,171,424 25,930,335
9,186,637 8,893,465
1,631,738 677,920
5,385,542 897,614
5,212,069 7,287,928
1,317,316 7,187,823
1,251,952 636,998
11,497,406 33,126,100
3,675,373 4,236,487
15,898,274 19,953,642
87,612,397 115,189,096
(4,475,488) (40,671,349)
10,965,000 29,715,239
680,834 1,021,808
123,527 -
12,527,625 12,858,979
(11,563,116) (11,873,724)
12,733,870 31,722,302
8,258,382 (8,949,047)
44,005,326 52,954,373
52,263,708$ 44,005,326$
29
City of Oshkosh, Wisconsin
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
2017 2016
RECONCILIATION TO THE STATEMENT OF ACTIVITIES
Net change in fund balances as shown on previous page 8,258,382$ (8,949,047)$
Amounts reported for governmental activities in the statement of activities
are different because:
Governmental funds report capital outlays as expenditures. However, in
the statement of activities the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense.
Capital assets reported as capital outlay in governmental fund statements 15,763,318 12,790,947
Depreciation expense reported in the statement of activities (10,342,857) (9,753,740)
Net book value of disposals (3,000) -
Governmental funds do not present revenues that are not available to pay
current obligations. In contrast, such revenues are reported in the statement
of activities when earned.509,747 917,232
Debt issued provides current financial resources to governmental funds, but
issuing debt increases long-term liabilities in the statement of net position.
Repayment of bond principal is an expenditure in the governmental funds, but
the repayment reduces long-term liabilities in the statement of net position.
Long-term debt issued (10,965,000) (29,715,239)
Premium on debt issued (680,834) (1,021,808)
Principal repaid 11,497,406 33,126,100
Some expenses reported in the statement of activities do not require the
use of current financial resources and therefore are not reported as
expenditures in the governmental funds:
Accrued interest on long-term debt 48,348 308,192
Amortization of premiums, discounts and loss on advance refunding 145,275 79,005
Compensated absences 46,770 321,363
Net pension asset - (6,731,922)
Net pension liability 2,181,853 (4,429,914)
Deferred outflows of resources related to pensions (7,281,860) 17,757,936
Deferred inflows of resources related to pensions 2,199,293 (9,322,678)
Other postemployment benefits (230,697) (227,543)
Internal service funds are used by management to charge the costs of
certain activities to individual funds. The net revenue (expense) of the
internal service funds is reported with governmental activities.(140,145) (107,314)
Change in net position of governmental activities as reported in the
statement of activities (see pages 23 - 24)11,005,999$ (4,958,430)$
The notes to the basic financial statements are an integral part of this statement.
30
City of Oshkosh, Wisconsin
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL - GENERAL FUND
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2016
Variance
Final Budget -
Budget Positive 2016
Original Final Actual (Negative)Actual
REVENUES
Taxes 17,796,100$ 17,796,100$ 17,817,570$ 21,470$ 16,418,504$
Intergovernmental 15,669,400 15,669,400 16,010,266 340,866 15,752,591
Licenses and permits 980,800 980,800 973,901 (6,899) 854,176
Fines and forfeits 707,400 707,400 781,434 74,034 686,098
Public charges for services 2,932,200 2,932,200 2,901,819 (30,381) 2,948,359
Intergovernmental charges
for services 4,222,600 4,222,600 4,463,334 240,734 4,432,013
Miscellaneous 621,400 621,400 768,765 147,365 779,651
Total revenues 42,929,900 42,929,900 43,717,089 787,189 41,871,392
EXPENDITURES
Current
General government 6,443,200 6,443,200 6,384,666 58,534 6,360,784
Public safety 25,936,100 25,936,100 25,869,003 67,097 25,736,807
Public works 6,117,800 6,117,800 5,909,087 208,713 5,758,707
Transportation 759,400 759,400 723,741 35,659 677,920
Culture and recreation 2,082,900 2,082,900 2,058,140 24,760 2,000,798
Conservation and development 1,361,000 1,361,000 1,317,316 43,684 1,314,384
Unclassified 1,229,500 1,229,500 1,251,952 (22,452) 591,183
Debt service
Interest and fiscal charges - - 4,823 (4,823) 6,405
Total expenditures 43,929,900 43,929,900 43,518,728 411,172 42,446,988
Excess of revenues over (under)
expenditures (1,000,000) (1,000,000) 198,361 1,198,361 (575,596)
OTHER FINANCING SOURCES (USES)
Transfers in 1,000,000 1,000,000 1,000,000 - 1,000,000
Transfers out - - (283,725) (283,725) -
Total other financing sources (uses)1,000,000 1,000,000 716,275 (283,725) 1,000,000
Net change in fund balance - - 914,636 914,636 424,404
Fund balance - January 1 9,461,979 9,461,979 9,461,979 - 9,037,575
Fund balance - December 31 9,461,979$ 9,461,979$ 10,376,615$ 914,636$ 9,461,979$
The notes to the basic financial statements are an integral part of this statement.
31
City of Oshkosh, Wisconsin
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2016
Enterprise Funds
Transit Water Sewer Storm Water
Utility Utility Utility Utility
ASSETS
Current assets
Cash and investments 2,567,613$ 17,873,313$ 6,821,891$ 8,399,201$
Receivables
Taxes and special charges 920,600 - - -
Customer accounts 348,019 4,742,056 4,564,061 3,051,265
Due from other funds - 638,118 15,169,335 4,010,674
Due from other governments 309,315 - - -
Inventories and prepaid items 554,597 993,126 568,153 168,005
Total current assets 4,700,144 24,246,613 27,123,440 15,629,145
Noncurrent assets
Restricted assets
Cash and investments - 3,583,088 5,332,590 5,074,638
Other assets
Assets held for resale - - - -
Capital assets
Nondepreciable 367,811 7,306,881 4,661,745 14,253,349
Depreciable 2,386,529 94,432,146 99,454,644 86,767,812
Total capital assets 2,754,340 101,739,027 104,116,389 101,021,161
Total assets 7,454,484 129,568,728 136,572,419 121,724,944
DEFERRED OUTFLOWS OF RESOURCES
Loss on advance refunding - 106,654 188,339 -
Pension related amounts 732,842 853,138 906,934 347,126
Total deferred outflows of resources 732,842 959,792 1,095,273 347,126
The notes to the basic financial statements are an integral part of this statement.
32
Governmental Activities -
Totals Internal Service Funds
Nonmajor
Funds 2017 2016 2017 2016
2,018,987$ 37,681,005$ 29,129,055$ 2,751,122$ 2,875,885$
- 920,600 887,524 18,200 18,400
111,703 12,817,104 12,150,005 - 16,942
- 19,818,127 11,153,172 - -
- 309,315 357,774 - -
23,879 2,307,760 2,616,210 - -
2,154,569 73,853,911 56,293,740 2,769,322 2,911,227
- 13,990,316 31,949,679 - -
6,653,016 6,653,016 6,653,016 - -
5,895,273 32,485,059 26,715,800 - -
8,667,691 291,708,822 272,547,345 - -
14,562,964 324,193,881 299,263,145 - -
23,370,549 418,691,124 394,159,580 2,769,322 2,911,227
- 294,993 331,795 - -
171,645 3,011,685 4,026,812 - -
171,645 3,306,678 4,358,607 - -
33
City of Oshkosh, Wisconsin
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2016
Enterprise Funds
Transit Water Sewer Storm Water
Utility Utility Utility Utility
LIABILITIES
Current liabilities
Accounts payable 130,739$ 106,774$ 123,722$ 28,624$
Accrued and other current liabilities - 1,060,535 52,214 16,024
Due to other funds - 144,156 315,515 -
Special deposits - - 13,400 -
Unearned revenue 5,065 - - -
Current portion of long-term debt 143,262 5,971,422 4,535,948 3,997,094
Accrued interest payable 8,596 731,626 507,456 501,040
Total current liabilities 287,662 8,014,513 5,548,255 4,542,782
Long-term obligations, less current portion
General obligation debt 1,160,998 4,669,190 6,653,457 5,469,858
Revenue bonds - 50,455,208 56,802,570 64,075,000
Debt premium - 1,517,236 1,397,707 1,783,391
Compensated absences 163,682 273,636 197,759 81,290
Net pension liability 95,035 110,671 117,632 44,887
Total long-term liabilities 1,419,715 57,025,941 65,169,125 71,454,426
Total liabilities 1,707,377 65,040,454 70,717,380 75,997,208
DEFERRED INFLOWS OF RESOURCES
Property taxes levied for subsequent year 920,600 - - -
Deferred gain on refunding - 3,921 10,768 -
Pension related amounts 301,135 350,682 372,737 142,232
Total deferred inflows of resources 1,221,735 354,603 383,505 142,232
NET POSITION
Net investment in capital assets 1,450,080 39,228,704 34,904,278 25,695,818
Restricted - 2,851,462 4,825,134 4,573,598
Unrestricted 3,808,134 23,053,297 26,837,395 15,663,214
Total net position 5,258,214$ 65,133,463$ 66,566,807$ 45,932,630$
The notes to the basic financial statements are an integral part of this statement.
34
Governmental Activities -
Totals Internal Service Funds
Nonmajor
Funds 2017 2016 2017 2016
88,329$ 478,188$ 1,795,586$ 2,538$ 4,098$
847 1,129,620 - - -
3,684,540 4,144,211 8,644,438 - -
7,596 20,996 18,400 - -
19,342 24,407 25,994 - -
610,000 15,257,726 21,453,094 - -
31,921 1,780,639 2,447,616 - -
4,442,575 22,835,787 34,385,128 2,538 4,098
2,655,000 20,608,503 22,237,225 - -
- 171,332,778 149,145,660 - -
- 4,698,334 2,862,349 - -
45,175 761,542 808,318 - -
20,237 388,462 714,289 - -
2,720,412 197,789,619 175,767,841 - -
7,162,987 220,625,406 210,152,969 2,538 4,098
- 920,600 887,524 18,200 18,400
- 14,689 20,426 - -
64,123 1,230,909 1,503,211 - -
64,123 2,166,198 2,411,161 18,200 18,400
12,412,964 113,691,844 120,012,568 - -
- 12,250,194 31,949,679 - -
3,902,120 73,264,160 33,991,810 2,748,584 2,888,729
16,315,084$ 199,206,198$ 185,954,057$ 2,748,584$ 2,888,729$
35
City of Oshkosh, Wisconsin
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
Enterprise Funds
Transit Water Sewer Storm Water
Utility Utility Utility Utility
OPERATING REVENUES
Charges for services 865,308$ 14,904,581$ 13,508,053$ 9,228,659$
Taxes - - - -
Fines, forfeitures and penalties - - - -
Other 29,957 217,613 22,902 25,906
Total operating revenues 895,265 15,122,194 13,530,955 9,254,565
OPERATING EXPENSES
Operation and maintenance 4,658,705 5,255,171 5,860,337 2,051,219
Depreciation 399,196 3,208,165 3,502,769 1,911,772
Taxes - 153,114 153,064 63,482
Claims and administration - - - -
Total operating expenses 5,057,901 8,616,450 9,516,170 4,026,473
Operating income (loss)(4,162,636) 6,505,744 4,014,785 5,228,092
NONOPERATING REVENUES (EXPENSES)
General property taxes 887,524 - - -
Interest income - 162,722 193,317 137,556
Nonoperating grants 3,186,261 - - 5,000
Gain (loss) on disposal of capital assets - - - -
Interest and fiscal charges (57,126) (1,849,789) (2,012,719) (2,349,321)
Total nonoperating revenues (expenses)4,016,659 (1,687,067) (1,819,402) (2,206,765)
Income (loss) before contributions
and transfers (145,977) 4,818,677 2,195,383 3,021,327
Capital contributions - 431,897 855,219 2,643,501
Transfers in - - - -
Transfers out - (1,000,000) - -
Change in net position (145,977) 4,250,574 3,050,602 5,664,828
Net position - January 1 5,404,191 60,882,889 63,516,205 40,267,802
Net position - December 31 5,258,214$ 65,133,463$ 66,566,807$ 45,932,630$
The notes to the basic financial statements are an integral part of this statement.
36
Governmental Activities -
Totals Internal Service Funds
Nonmajor
Funds 2017 2016 2017 2016
1,969,043$ 40,475,644$ 38,202,313$ 66,912$ 63,775$
1,716,066 1,716,066 1,778,012 - -
25,435 25,435 33,633 - -
140,629 437,007 719,546 384,102 436,468
3,851,173 42,654,152 40,733,504 451,014 500,243
3,032,949 20,858,381 20,780,252 - -
331,099 9,353,001 8,841,002 - -
- 369,660 352,300 - -
- - - 616,003 634,662
3,364,048 30,581,042 29,973,554 616,003 634,662
487,125 12,073,110 10,759,950 (164,989) (134,419)
- 887,524 843,391 18,400 17,700
- 493,595 288,022 6,444 9,405
- 3,191,261 3,001,264 - -
- - 33,670 - -
(90,502) (6,359,457) (6,216,012) - -
(90,502) (1,787,077) (2,049,665) 24,844 27,105
396,623 10,286,033 8,710,285 (140,145) (107,314)
- 3,930,617 4,208,145 - -
35,491 35,491 14,745 - -
- (1,000,000) (1,000,000) - -
432,114 13,252,141 11,933,175 (140,145) (107,314)
15,882,970 185,954,057 174,020,882 2,888,729 2,996,043
16,315,084$ 199,206,198$ 185,954,057$ 2,748,584$ 2,888,729$
37
City of Oshkosh, Wisconsin
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
Enterprise Funds
Transit Water Sewer Storm Water
Utility Utility Utility Utility
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers 863,687$ 14,988,555$ 13,249,896$ 9,028,256$
Cash paid for employee wages and benefits (2,531,969) (2,660,944) (2,904,884) (1,181,045)
Cash paid to suppliers (2,000,773) (2,692,528) (3,375,712) (1,039,737)
Net cash provided (used) by operating
activities (3,669,055) 9,635,083 6,969,300 6,807,474
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
General property taxes 887,524 - - -
Intergovernmental revenues 3,234,720 - - 5,000
Due to/from other funds - (313,018) (8,160,610) (5,045,398)
Employee advance repaid - - - -
Transfer in (out)- (1,000,000) - -
Net cash provided (used) by noncapital
financing activities 4,122,244 (1,313,018) (8,160,610) (5,040,398)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Acquisition of capital assets (149,094) (11,169,702) (10,164,576) (8,222,844)
Capital contributions - - - -
Sale of capital assets - - - -
Proceeds from issuance of long-term debt 305,000 8,880,000 15,336,470 9,720,000
Premiums received on long-term debt issued - 598,381 977,910 682,624
Debt issuance costs - - - -
Principal paid on long-term debt (113,367) (13,495,705) (3,854,311) (3,489,505)
Interest paid on long-term debt (60,099) (1,904,058) (1,881,772) (2,361,752)
Net cash provided (used) by capital
and related financing activities (17,560) (17,091,084) 413,721 (3,671,477)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received - 162,722 193,317 137,556
Change in cash and cash equivalents 435,629 (8,606,297) (584,272) (1,766,845)
Cash and cash equivalents - January 1 2,131,984 30,062,698 12,738,753 15,240,684
Cash and cash equivalents - December 31 2,567,613$ 21,456,401$ 12,154,481$ 13,473,839$
The notes to the basic financial statements are an integral part of this statement.
38
Governmental Activities -
Totals Internal Service Funds
Nonmajor
Funds 2017 2016 2017 2016
3,851,931$ 41,982,325$ 40,492,322$ 467,956$ 526,783$
(1,155,069) (10,433,911) (11,636,669) (184,252) -
(2,084,165) (11,192,915) (9,150,441) (433,311) (1,443,620)
612,697 20,355,499 19,705,212 (149,607) (916,837)
- 887,524 843,391 18,400 17,700
- 3,239,720 2,865,873 - -
353,844 (13,165,182) (6,671,579) - -
- - 15,154 - -
35,491 (964,509) (985,255) - -
389,335 (10,002,447) (3,932,416) 18,400 17,700
(757,225) (30,463,441) (27,117,486) - -
- - 2,111,981 - -
- - 45,283 - -
1,500,000 35,741,470 50,055,606 - -
- 2,258,915 1,853,009 - -
- - (487,855) - -
(562,620) (21,515,508) (33,447,062) - -
(67,815) (6,275,496) (5,847,208) - -
112,340 (20,254,060) (12,833,732) - -
- 493,595 288,022 6,444 9,405
1,114,372 (9,407,413) 3,227,086 (124,763) (889,732)
904,615 61,078,734 57,851,648 2,875,885 3,765,617
2,018,987$ 51,671,321$ 61,078,734$ 2,751,122$ 2,875,885$
39
City of Oshkosh, Wisconsin
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
Transit Water Sewer Storm Water
Utility Utility Utility Utility
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES
Operating income (loss)(4,162,636)$ 6,505,744$ 4,014,785$ 5,228,092$
Adjustments to reconcile operating
income (loss) to net cash provided (used)
by operating activities
Depreciation 399,196 3,208,165 3,502,769 1,911,772
Depreciation charged to sewer utility - 110,321 - -
Change in liability (asset) and deferred
outflows and inflows of resources
Pension 112,476 127,220 131,354 48,419
Change in operating assets and liabilities
Accounts receivables (32,938) (131,594) (277,367) (226,309)
Inventories and prepaid items 35,346 187,472 72,550 11,649
Accounts payable (28,002) (432,076) (481,701) (193,236)
Accrued and other current liabilities - 60,535 52,214 16,024
Customer deposits - - - -
Unearned revenue 1,360 (2,045) (3,692) -
Compensated absences 6,143 1,341 (41,612) 11,063
Net cash provided (used) by operating
activities (3,669,055)$ 9,635,083$ 6,969,300$ 6,807,474$
Reconciliation of cash and cash equivalents
to the statement of net position
Cash and cash equivalents in current assets 2,567,613$ 17,873,313$ 6,821,891$ 8,399,201$
Cash and cash equivalents in restricted assets - 3,583,088 5,332,590 5,074,638
Total cash and cash equivalents 2,567,613$ 21,456,401$ 12,154,481$ 13,473,839$
Noncash capital and related financing activities
Contributed capital assets -$ 431,897$ 855,219$ 2,643,501$
The notes to the basic financial statements are an integral part of this statement.
Enterprise Funds
40
Governmental Activities -
Totals Internal Service Funds
Nonmajor
Funds 2017 2016 2017 2016
487,125$ 12,073,110$ 10,759,950$ (164,989)$ (134,419)$
331,099 9,353,001 8,841,002 - -
- 110,321 116,036 - -
(2,471) 416,998 456,750 - -
1,109 (667,099) (242,395) 16,942 26,540
1,433 308,450 64,214 - -
(182,383) (1,317,398) (494,117) (1,560) (808,958)
847 129,620 - - -
2,596 2,596 - - -
(2,947) (7,324) 24,304 - -
(23,711) (46,776) 179,468 - -
612,697$ 20,355,499$ 19,705,212$ (149,607)$ (916,837)$
2,018,987$ 37,681,005$ 29,129,055$ 2,751,122$ 2,875,885$
- 13,990,316 31,949,679 - -
2,018,987$ 51,671,321$ 61,078,734$ 2,751,122$ 2,875,885$
-$ 3,930,617$ 2,096,164$ -$ -$
41
City of Oshkosh, Wisconsin
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
DECEMBER 31, 2017
Property Hospital
Taxes Bioterrorism
ASSETS
Current assets
Cash and investments 43,541,432$ 4,202$
Receivables
Taxes 14,865,227 -
Other 1,940 -
Total assets 58,408,599$ 4,202$
LIABILITIES
Current liabilities
Accounts payable 85,571$ -$
Due to other governments 58,323,028 4,202
Total liabilities 58,408,599$ 4,202$
The notes to the basic financial statements are an integral part of this statement.
Agency Funds
42
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
43
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Oshkosh, Wisconsin (the “City”), 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:
A.REPORTING ENTITY
The City 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 and any separate component units that have a significant
operational or financial relationship with the City. The City has identified the following component unit that is required
to be included in the basic financial statements in accordance with standards established by GASB Statement No. 61.
Redevelopment Authority
The component unit column in the basic financial statements include the financial data of the City’s component unit,
the Redevelopment Authority of the City of Oshkosh. It is reported in a separate column to emphasize that it is legally
separate from the City. The Redevelopment Authority’s fiscal year end is December 31. Separate financial statements
are not issued for the Redevelopment Authority.
B.RELATED ORGANIZATIONS
The City’s officials are also responsible for appointing the members of the Boards of other organizations, but the City’s
accountability for these organizations does not extend beyond making the appointments. Therefore, these
organizations are not included in the City’s reporting entity. The City Council appoints some or all of the members of
the following related organizations:
School District of Oshkosh Area
Fox Valley VTAE District
Housing Authority of the City of Oshkosh
C.GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
The government-wide financial statements (i.e., the statement of net position 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 are primarily supported by taxes and intergovernmental
revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for
services.
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 financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even
though the latter are excluded from the government-wide financial statements. Governmental funds include general,
special revenue, debt service and capital projects funds. Proprietary funds include enterprise and internal service funds..
Major individual governmental funds and major individual enterprise funds are reported as separate columns in the
fund financial statements.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
44
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
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 government funds.
Special Assessment Improvement Capital Projects Fund
This fund accounts for the cost of capital projects and the special assessments and subsequent assessment collections
related to those projects.
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.
Additionally, the City reports the following fund types:
Internal service fund accounts for the financing of goods and services provided by one department to other city
departments or to the other governments on a cost reimbursement basis.
The City accounts for property taxes collected on behalf of other governments in an agency fund.
D.MEASUREMENT FOCUS AND BASIS OF ACCOUNTING
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.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
45
Revenues susceptible to accrual include intergovernmental grants, intergovernmental charges for services, public
charges for services and interest. Other revenues such as licenses and permits, fines and forfeits and miscellaneous
revenues are recognized when received in cash or when measurable and available.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements.
Exceptions to this general rule are payments-in-lieu of taxes and other charges between the City’s water and sewer
functions and various other functions of the City. Elimination of these charges would distort the direct costs and
program revenues reported for the various functions concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges
provided, and fees and fines, 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 nonoperating 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 proprietary funds are charges to
customers for services. Operating expenses for proprietary funds include the costs of services, administrative expenses,
and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating
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.
E.ASSETS, LIABILITIES,DEFERRED OUTFLOWS/INFLOWS OF RESOURCES, AND NET POSITION OR FUND BALANCE
1.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 price that
would be received to sell an asset in an orderly transaction between market participants at the measurement date.
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.
2.Property Taxes and Special Charges/Receivable
Property taxes and special charges consist of taxes on real estate and personal property and user charges assessed
against City properties. They are levied during December of the prior year and become an enforceable lien on
property the following January 1. Property taxes are payable in various options depending on the type and amount.
Personal property taxes and special charges are payable on or before January 31 in full. Real estate taxes are
payable in full by January 31 or in four equal installments on or before January 31, March 31, May 31, and July 31.
Real estate taxes not paid by July 31 are purchased by the County as part of the August tax settlement. Delinquent
personal property taxes remain the collection responsibility of the City.
In addition to its levy, the City also levies and collects taxes for the Oshkosh and Winneconne Community School
Districts, Winnebago County, Fox Valley Technical College, Algoma Sanitary District #1 and the State of Wisconsin.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
46
Property tax calendar for the 2017 tax roll is as follows:
Lien date and l ev y date December 31, 2017
T ax bil ls mailed On or after December 1, 2017
Pay ment in full, or:
First instal lment due January 31, 2018
Second instal lment due March 31, 2018
T hird instal lment due May 31, 2018
Fourth instal lment due July 31, 2018
Personal property tax es in ful l January 31, 2018
T ax settl ements:
Initial settlement January 15, 2018
Secon, third and fourth settl ement 20 day s after the collection date
Final settlement August 20, 2018
T ax deed by County -
2017 delinquent real estate tax es October 01, 2021
Property taxes of $45,156,467 are recorded on December 31, 2017 for collection in 2018 for the City
apportionment. The City apportionment is for financing 2018 operations and will be transferred in 2018 from
deferred inflows of resources to current revenues of the City’s governmental and proprietary funds.
3.Accounts Receivable
Accounts receivable are recorded at gross amounts 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.
4.Special Assessments
Assessments against property owners for public improvements are generally not subject to full settlement in the
year levied. Special assessments are placed on tax rolls on an installment basis. Revenue from special assessments
recorded in governmental funds is recognized as collections are made or as current installments are placed on tax
rolls. Installments placed on the 2017 tax roll are recognized as revenue in 2018.Special assessments are subject to
collection procedures.
5.Loans Receivable
The City has received federal and state grant funds for economic development and housing rehabilitation loan
programs and has passed the funds to various businesses and individuals in the form of loans. The City records a
loan receivable and expenditure when the loan has been made and the funds disbursed. 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.In the governmental funds, the City records a deferred inflow of
resources for the net amount of the receivable. As the loans are repaid, revenue is recognized. Any unspent loan
proceeds are presented as restricted fund balance in the fund financial statements.
6.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.
The amount reported on the statement of net position for internal balances represents the residual balance
outstanding between the governmental and business-type activities.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
47
7.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 funds in the fund financial statements are offset by nonspendable fund balance to
indicate that they do not represent spendable available financial resources.
8.Prepaid Items
Payments made to vendors that will benefit periods beyond the end of the current fiscal year are recorded as
prepaid items and are accounted for on the consumption method.
Prepaid items of governmental funds in the fund financial statements are offset by nonspendable fund balance to
indicate that they do not represent spendable available financial resources.
9.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 costs of $1,500 or higher and an estimated useful life in
excess of a year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed.
Donated capital assets are recorded at estimated acquisition 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.
Capital assets of the City are depreciated using the straight-line method over the following estimated useful lives:
Governmental Business-type
Activities Activities
Assets
Buildings, sy stems, and land improv ements 30-80 25-88
Machinery and equipment 1-25 10-25
Infrastructure 20-35 40-150
Years
10.Assets Held for Resale
Assets held for resale consists of land and improvements and is valued at cost of acquisition, demolition, and site
improvements. Properties include both land intended for resale and land designated as a public area. Assets held
for resale is recorded at lower of cost or market value.
11.Compensated Absences
It is the City’s policy to permit employees to accumulate earned but unused vacation and sick leave benefits in
accordance with employee handbook policies. 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.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
48
12.Deferred Outflows/Inflows of Resources
Deferred outflows of resources are a consumption of net position by the government that is applicable to a future
reporting period. Deferred inflows of resources are an acquisition of net position by the government that is
applicable to a future reporting period. The recognition of those outflows and inflows as expenses or expenditures
and revenues are deferred until the future periods to which the outflows and inflows are applicable.
Governmental funds may report deferred inflows of resources for unavailable revenues. The City reports
unavailable revenues for special assessments. These inflows are recognized as revenues in the government-wide
financial statements.
13.Long-term Obligations
In the government-wide financial statements, and proprietary funds 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 statement of net position. Bond premiums and discounts 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 expensed as incurred.
In the fund financial statements, governmental funds 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.
14.Pensions
For purposes of measuring the net pension liability (asset), deferred outflows of resources and deferred inflows of
resources related to pensions, and pension expense, information about the fiduciary net position of the Wisconsin
Retirement System (WRS) and additions to/deductions from WRS’ fiduciary net position have been determined on
the same basis as they are reported by WRS. For this purpose, benefit payments (including refunds of employee
contributions) are recognized when due and payable in accordance with the benefit terms. Investments are
reported at fair value.
15.Fund Equity
Governmental Fund Financial Statements
Fund balance of governmental funds is reported in various categories based on the nature of any limitations
requiring the use of resources for specific purposes. 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, prepaid items, or
long-term receivables) or are legally or contractually required to remain intact.
Restricted fund balance.Amounts that are constrained for specific purposes by external parties (such as
grantor or bondholders), through constitutional provisions, or by enabling legislation.
Committed fund balance. Amounts that are constrained for specific purposes by action of the City Council.
These constraints can only be removed or changed by the City Council using the same action that was used to
create them.
Assigned fund balance.Amounts that are constrained for specific purposes by action of City management.
Residual amounts in any governmental fund, other than the General Fund,are also reported as assigned.
Unassigned fund balance. Amounts that are available for any purpose. Positive unassigned amounts are only
reported in the General Fund.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
49
The City Council establishes (and modified 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 the City Council through adoption or amendment of the
budget as intended for specific purpose (such as the purchase of capital assets, construction, debt service or for
other purposes).
Government-Wide and Proprietary Fund Statements
Equity is classified as net position and displayed in three components:
Net investment in capital assets.Amount of capital assets, net of accumulated depreciation, and capital
related deferred outflows of resources less outstanding balances of any bonds, mortgages, notes, or other
borrowings that are attributable to the acquisition, construction, or improvement of those assets and any
capital related deferred inflows of resources.
Restricted net position.Amount of net position that is 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 position.Net position that is neither classified as restricted nor as net investment in capital
assets.
When an expense is incurred that can be paid using either restricted or unrestricted resources (net position), 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 restricted fund balance and then to other, less restrictive classification –committed and then assigned
fund balances before using assigned fund balances.
F.USE OF ESTIMATES
The preparation of financial statements in conformity with accounting principles generally accepted in the United
States of America requires management to make estimates and assumptions that affect the amounts reported in the
financial statements and accompanying notes. Actual results could differ from those estimates.
G.PRIOR YEAR INFORMATION
Comparative amounts for the prior year have been presented in the basic financial statements to provide an
understanding of changes in the City’s financial position and operations. The comparative amounts may be summarized
in total and not at the level of detail required for a presentation in conformity with generally accepted accounting
principles. Accordingly, such information should be read in conjunction with the government’s financial statements for
the year ended December 31, 2016, from which the summarized information was derived.
H.RECLASSIFICATIONS
Certain amounts in the prior year financial statements have been reclassified to conform with the presentation in the
current year financial statements with no change in previously reported net position, changes in net position, fund
balance or changes in fund balance.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
50
NOTE 2:STEWARDSHIP AND COMPLIANCE
A.BUDGETS AND BUDGETARY ACCOUNTING
The City adopted budgets for the General Fund, certain Special Revenue Funds and the Debt Service Fund. 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 City follows these procedures in establishing the budgetary data reflected in the basic financial statements:
1.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.
2.A public hearing is conducted in the Council Chambers to obtain taxpayer comments.
3.At the second council meeting in November, the budget is legally enacted through passage of a resolution.
4.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.
5.Formal budgetary integration is employed as a management control device during the year for the General
Fund, Special Revenue Funds (except for Business Improvement District, Cable TV Franchise, Historical M arker,
Public Works Special, and Community Traffic Safety) and the Debt Service Fund.
6.Budgetary expenditure control is exercised at the department level.
7.Budgeted amounts are as authorized in the original budget resolution and subsequent revisions authorized by
the Common Council.
8.All appropriations lapse at year end.
The City did not have any material violation of legal or contractual provisions for the fiscal year ended December 31,
2017.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
51
B.DEFICIT FUND EQUITY
The following funds had deficit fund balance or net position as of December 31, 2017:
Deficit Fund
Funds Balance
Major Fund
Special Assessment Improv ement 3,636,920$
Nonmajor Special Rev enue Funds
Community Dev elopment Special 7,361
Leach Amphitheater 38,289
Publ ic Works Special 70,122
Community T raffic Safety Grant 395
Nonmajor Capital Projects Funds
Street T ree 7,377
T IF #18 - SW Industrial #3 1,896,934
T IF #21 - Fox River Corridor 165,719
T IF #23 - SW Industrial Park 1,802,861
T IF #25 - City Center Hotel 1,759,879
T IF #26 - Av iation Business Park 1,839,751
T IF #27 - North Main Street 2,347,013
T IF #28 - Beach Building Redev elopment 19,765
T IF #29 - Morgan District 11,132
T IF #30 - Washington Building 58,628
T IF #31 - Buckstaff Redev elopment 34,361
T IF #32 - Granary Redev el opment 494
The City anticipates funding the above deficits from future revenues of the funds.
C.PROPERTY TAX LEVY LIMIT
Wisconsin state statutes provide for a limit on the property tax levies for all Wisconsin cities, villages, towns and
counties. For the 2017 and 2018 budget years, Wisconsin Statutes limit the increase in the maximum allowable tax levy
to the change in the City’s January 1 equalized value as a result of net new construction. The actual limit for the City for
the 2017 budget was 1.22%. The actual limit for the City for the 2018 budget was .74%. Debt service for debt
authorized after July 1, 2005 is exempt from the levy limit. In addition, Wisconsin statutes allow the limit to be adjusted
for the increase in debt service authorized prior to July 1, 2005 and in certain other situations.
NOTE 3:DETAILED NOTES ON ALL FUNDS
A.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 on 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.Investments in the private-purpose trust fund may be invested in other types of investments
as authorized user Wisconsin Statute 881.01, “Uniform Prudent Investor Act”.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
52
The carrying amount of the City’s cash and investments totaled $172,582,772 on December 31, 2017 as summarized
below:
Petty cash and cash on hand 12,135$
Deposits w ith financial institutions 148,223,507
Investments
Federal Farm Credit 5,917,867
Federal Home Loan Bank 4,174,497
Federal Home Loan Mortgage Corporation 2,603,486
Federal National Mortgage Association 2,061,614
Money market mutual funds 103,553
Municipal bonds 450,224
Mutual funds 3,683,288
Oshkosh Community Foundation 3,954,204
Corporate stocks and bonds 1,364,441
Wisconsin local gov ernment investment pool 33,956
172,582,772$
Reconciliation to the basic financial statements:
Government-w ide Statement of Net Position
Cash and investments 114,713,109$
Restricted cash and inv estments 13,990,316
Deposit w ith G O HNI 201,919
Component Unit
Redev el opment Authority 131,794
Fiduciary Funds Statement of Net Position
Cash and investment 43,545,634
172,582,772$
Fair Value Measurements
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted
accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1
inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant observable inputs; Level 3
inputs are significant unobservable inputs. The City has the following fair value measurements as of December 31,
2017:
Level 1 Level 2 Level 3
Investments
Federal Farm Credit -$ 5,917,867$ -$
Federal Home Loan Bank - 4,174,497 -
Federal Home Loan Mortgage Corporation - 2,603,486 -
Federal National Mortgage Association - 2,061,614 -
Money market mutual funds 103,553 - -
Municipal bonds - 450,224 -
Mutual funds 3,683,288 - -
Oshkosh Community Foundation - - 3,954,204
Corporate stocks and bonds - 1,364,441 -
3,786,841$ 16,572,129$ 3,954,204$
Fair Value Measurements Using:
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
53
Deposit with Greater Oshkosh Healthy Neighborhood Incorporated (GO HNI):
On September 27, 2016, the City entered into an agreement with Verve Credit Union (Verve) and GO HNI to provide
cash collateral in the form of a $200,000 certificate of deposit (CD) in support of GO HNI’s acquisition and rehabilitation
of properties within the City. Under the agreement with Verve, GO HNI’s real estate development activities will draw on
a line of credit for the acquisition, rehabilitation and renovations as projects require. Verve required cash collateral for
the line of credit which GO HNI was unable to provide one of its own at the time of the agreement. Verve will pay the
City a 0.8% interest rate on a 24 month (CD). Verve will loan GO HNI funding through the line of credit at a rate of 2.8%.
These funds are recorded in the Health Neighborhood Initiative Capital Projects Fund as a deposit with GO HNI, as
Verve initially recorded the CD under the EIN of GO HNI, not the City of Oshkosh.The balance in this CD is $201,919 at
December 31, 2017.
Deposits and investments of the City are subject to various risks. Presented below is a discussion of the City’s deposits
and investments and the related risks.
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 policy.
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 the combined amount of all time and savings deposits and $250,000
for interest-bearing and noninterest-bearing 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 for the combined amount of all deposit accounts per official custodian per depository institution Also, 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.This coverage has
been considered in determining custodial credit risk.
As of December 31, 2017, $135,933,632 of the City’s deposits with financial institutions were in excess of federal and
state depository insurance limits. All amounts above federal and state depository insurance limits were collateralized
with securities held by the pledging financial institution or its trust department or agent but not in the City’s name.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
54
Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the
investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization.
Wisconsin statutes limit investment in securities to the top two ratings assigned by nationally recognized statistical
rating organizations. Presented below is the actual rating as of the year-end for each investment type.
Not
Investment Type Amount AAA Aa Rated
Federal Farm Credit 5,917,867$ 5,917,867$ -$ -$
Federal Home Loan Bank 4,174,497 4,174,497 - -
Federal Home Loan Mortgage Corporation 2,603,486 2,603,486 - -
Federal National Mortgage Association 2,061,614 2,061,614 - -
Money market mutual funds 103,553 - - 103,553
Municipal bonds 450,224 198,022 252,202 -
Mutual funds 3,683,288 - - 3,683,288
Oshkosh Community Foundation 3,954,204 - - 3,954,204
Corporate stocks and bonds 1,364,441 - - 1,364,441
Wisconsin Local Government
Investment Pool 33,956 - - 33,956
T otal s 24,347,130$14,955,486$252,202$ 9,139,442$
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment.
Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market
interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of
shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio is
maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for
operations.
Information about the sensitivity of the fair values of the City’s investments to market interest rate fluctuations is
provided by the following table that shows the distribution of the City’s investments by maturity:
12 Months 13 to 24 25 to 60
Investment Type Amount or Less Months Months
Federal Farm Credit 5,917,867$ 1,716,929$ 1,292,176$ 2,908,762$
Federal Home Loan Bank 4,174,497 1,194,606 1,611,037 1,368,854
Federal Home Loan Mortgage Corporation 2,603,486 614,588 880,468 1,108,430
Federal National Mortgage Association 2,061,614 148,958 1,612,521 300,135
Money market mutual funds 103,553 103,553 - -
Municipal bonds 450,224 85,400 100,652 264,172
Mutual funds 3,683,288 3,683,288 - -
Oshkosh Community Foundation 3,954,204 3,954,204 - -
Corporate stocks and bonds 1,364,441 1,364,441 - -
Wisconsin Local Government
Investment Pool 33,956 33,956 - -
T otal s 24,347,130$12,899,923$5,496,854$ 5,950,353$
Remaining Maturity (in Months )
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
55
Investments with Fair Values Highly Sensitive to Interest Rate Fluctuations
The City’s investments include the following investments that are highly sensitive to interest rate fluctuations (to a
greater degree than already indicated in the information provided above):
Fair Value
Highly Sensitive Investments at Year End
Federal Farm Credit 5,917,867$
Federal Home Loan Bank 4,174,497
Federal Home Loan Mortgage Corporation 2,603,486
Federal National Mortgage Association 2,061,614
Investments in Wisconsin Local Government Investment Pool
The City has investments in the Wisconsin Local Government Investment Pool of $33,956 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, 2017, the
fair value of the City’s share of the LGIP’s assets was substantially equal to the carrying value.
Beneficial Interest in Assets Held by Oshkosh Community Foundation
Beneficial interest in assets held by Oshkosh Community Foundation represents amounts held at Oshkosh Community
Foundation, Inc. (the “Foundation”). These amounts are legal assets of the Foundation with the restriction that the
Foundation makes distributions to the City as needed. The agreement governing the assets includes a variance power
allowing the Foundation to modify the restrictions on distributions from the funds.
B.RESTRICTED ASSETS
Restricted assets on December 31, 2017 totaled $13,990,316 and consisted of cash and investments held for the
following purposes:
Funds Amount Purpose
Enterprise Funds
Water Utility
Bond redemption fund 3,443,080$ T o be used for principal and interest pay ments of
w ater utility rev enue bonds
Depreciation fund 140,008 T o be used for the replacement of certain assets for
the City 's w ater distribution pl ant
T otal Water Utility 3,583,088
Sew er Utility
Special construction 118,773 T o account for funds specified for certain construction
project in subsequent years
Bond redemption fund 3,289,425 T o be used for principal and interest pay ments of
sanitary sew er utility rev enue bonds
DNR replacement 1,924,392 T o be used for the replacement of certain assets for
the City 's sanitary sew er sy stem.
T otal Sew er Utility 5,332,590
Storm Water Utility
Bond redemption fund 5,074,638 T o be used for principal and interest pay ments of
storm w ater utility rev enue bonds
T otal Enterprise Funds 13,990,316$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
56
C.CAPITAL ASSETS
Capital asset activity for the year ended December 31, 2017 was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental activities:
Capital assets, nondepreciabl e:
Land 20,011,147$ 1,027,861$ 3,000$ 21,036,008$
Construction in progress 2,606,129 2,207,020 1,893,984 2,919,165
T otal capital assets, nondepreciabl e 22,617,276 3,234,881 1,896,984 23,955,173
Capital assets, depreciabl e:
Buildings, sy stems and l and improv ements 66,958,306 1,133,469 - 68,091,775
Infrastructure 85,512,041 10,249,608 4,679,190 91,082,459
Machinery and equipment 59,269,941 3,039,344 1,288,870 61,020,415
Subtotal s 211,740,288 14,422,421 5,968,060 220,194,649
Less accumul ated depreciation for:
Buildings, sy stems and l and improv ements 17,311,020 1,388,176 - 18,699,196
Infrastructure 35,889,936 5,683,547 4,679,190 36,894,293
Machinery and equipment 34,483,442 3,271,134 1,288,870 36,465,706
Subtotal s 87,684,398 10,342,857 5,968,060 92,059,195
T otal capital assets, depreciabl e, net 124,055,890 4,079,564 - 128,135,454
Governmental activities capital assets, net 146,673,166$7,314,445$ 1,896,984$ 152,090,627
Less: Capital rel ated debt 112,757,690
Less: Debt premium 2,553,434
Less: Deferred gain on refunding 40,105
Add: Deferred charge on refunding 488,506
Net investment in capital assets 37,227,904$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
57
Beginning Ending
Balance Increases Decreases Balance
Business-t ype activities:
Capital assets, nondepreciabl e:
Land 13,648,461$ -$ -$ 13,648,461$
Construction in progress 13,067,339 31,171,670 25,402,411 18,836,598
T otal capital assets, nondepreciabl e 26,715,800 31,171,670 25,402,411 32,485,059
Capital assets, depreciabl e:
Buildings, sy stems and l and improv ements 342,234,484 27,024,270 1,579,573 367,679,181
Machinery and equipment 52,671,887 1,600,529 323,652 53,948,764
Subtotal s 394,906,371 28,624,799 1,903,225 421,627,945
Less accumul ated depreciation for:
Buildings, sy stems and l and improv ements 85,470,430 6,457,508 1,579,573 90,348,365
Machinery and equipment 36,888,596 3,005,814 323,652 39,570,758
Subtotal s 122,359,026 9,463,322 1,903,225 129,919,123
T otal capital assets, depreciabl e, net 272,547,345 19,161,477 - 291,708,822
Business-ty pe activities capital assets, net 299,263,145$50,333,147$25,402,411$324,193,881
Less: Capital rel ated debt 205,729,354
Less: Debt premium 5,052,987
Less: Deferred gain on refunding 14,689
Add: Deferred charge on refunding (294,993)
Net investment in capital assets 113,691,844$
Depreciation expense was charged to functions of the City as follows:
Governmental activities
General gov ernment 417,161$
Publ ic safety 1,299,640
Publ ic w orks 5,959,016
Heal th and w elfare 100,948
Cul ture and recreation 1,258,251
Community dev el opment 1,307,841
T otal depreciation ex pense - gov ernmental activities 10,342,857$
Business-ty pe activities
T ransit utility 399,196$
Water utility 3,208,165
Water utility charged to other operating accounts 110,321
Sew er utility 3,502,769
Storm w ater utility 1,911,772
Other 331,099
T otal depreciation ex pense - business-ty pe activities 9,463,322$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
58
D.INTERFUND RECEIVABLE, PAYABLES, AND TRANSFERS
Interfund receivables and payables between individual funds of the City, as reported in the fund financial statements,
as of December 31, 2017 are detailed below:
Interfund Interfund
Receivables Payables
Governmental Funds
General 85,654$ 4,243,302$
Special assessment improv ement - 2,273,501
Nonmajor gov ernmental
Special rev enue 178,143 365,055
Capital projects 1,440,868 10,220,712
Permanent - 276,011
T otal gov ernmental activities 1,704,665 17,378,581
Proprietary Funds
Water utility 638,118 144,156
Sew er utility 15,169,335 315,515
Storm w ater utility 4,010,674 -
Nonmajor enterprise - 3,684,540
T otal business-ty pe activities 19,818,127 4,144,211
T otal s 21,522,792$ 21,522,792$
Interfund transfers for the year ended December 31, 2017 were as follows:
Transfer Transfer
Fund In Out
Governmental Funds
General 1,000,000$ 283,725$
Nonmajor gov ernmental 11,527,625 11,279,391
T otal gov ernmental funds 12,527,625 11,563,116
Proprietary Funds
Water utility - 1,000,000
Nonmajor enterprise 35,491 -
T otal enterprise funds 35,491 1,000,000
T otal s 12,563,116$ 12,563,116$
Interfund transfers were made for the following purposes:
T ax equivalent pay ment made by w ater utility to general fund 1,000,000$
T ransfer out of T IF #7 bal ances due to closure of district 10,951,940
General fund transfer out to Equipment captial projects fund for equipment outl ay s 283,725
T ransfer from v arious T IF districts to Parking Util ity 35,491
Miscellaneous transfers as approv ed in annual budget process 291,960
12,563,116$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
59
E.LOANS RECEIVABLES
Loans receivable of $4,075,887 in the Community Development Block Grant, Rental Rehabilitation Loan Program, and
Local Revolving Loan Program special revenue funds 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.
F.LONG-TERM OBLIGATIONS
The following is a summary of changes in long-term obligations of the City for the year ended December 31, 2017:
Beginning Ending Due Within
Balance Issued Retired Balance One Year
Governmental activities:
General O bl igation Debt
Bonds and notes 113,290,096$10,965,000$11,497,406$112,757,690$12,017,594$
Debt premium 2,059,579 680,834 186,979 2,553,434 213,107
Compensated absences 4,352,539 - 46,770 4,305,769 -
Governmental activities
Long-term obl igations 119,702,214$11,645,834$11,731,155$119,616,893$12,230,701$
Business-type activities:
General O bl igation Debt
T ransit utility 1,112,627$ 305,000$ 113,367$ 1,304,260$ 143,263$
Water utility 6,412,381 - 892,617 5,519,764 850,574
Sew er utility 8,815,237 - 1,060,890 7,754,347 1,100,890
Storm w ater utility 6,918,358 - 719,505 6,198,853 728,995
Parking utility 25,000 - - 25,000 -
Oshkosh Redev el opment 820,000 1,500,000 195,000 2,125,000 230,000
Industrial Park 1,480,000 - 365,000 1,115,000 380,000
Golf course 2,620 - 2,620 - -
T otal General Obligation Debt 25,586,223 1,805,000 3,348,999 24,042,224 3,433,722
Rev enue bonds
Water utility 59,181,499 8,880,000 12,603,086 55,458,413 5,003,205
Sew er utility 47,585,670 15,336,470 2,793,423 60,128,717 3,326,147
Storm w ater utility 60,265,000 9,720,000 2,770,000 67,215,000 3,140,000
T otal rev enue bonds 167,032,169 33,936,470 18,166,509 182,802,130 11,469,352
Debt premium
Water utility 1,138,803 598,381 102,302 1,634,882 117,644
Sew er utility 602,850 977,910 74,145 1,506,615 108,909
Storm w ater utility 1,338,283 682,624 109,417 1,911,490 128,099
T otal debt premium 3,079,936 2,258,915 285,864 5,052,987 354,652
Compensated absences 808,318 - 46,776 761,542 -
Business-ty pe activities
Long-term obl igations 196,506,646$38,000,385$21,848,148$212,658,883$15,257,726$
Total interest paid during the year on long-term debt totaled $9,976,551.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
60
General Obligation Debt
General obligation debt currently outstanding is detailed as follows:
Date of Principal Interest Interest Original Balance
Issue payable payable Rates Indebtedness 12/31/17
Refunding bonds:
2010C 8/25/10 12/1/11 - 6/1/24 6/1 - 12/1 2.00 - 3.25%12,620,000$ 4,070,000$
2010D 8/26/10 12/1/11 - 21 6/1 - 12/1 0.75 - 3.90%8,420,000 3,200,000
2011A 3/16/11 12/1/11 - 22 6/1 - 12/1 2.00 - 3.50%8,490,000 4,380,000
2011B 3/16/11 3/15/12 - 23 3/15 - 9/15 2.00 - 4.70%6,350,000 3,000,000
2012A 6/28/12 12/1/13 - 27 6/1 - 12/1 0.40 - 3.00%5,595,000 2,965,000
2016C 7/6/16 12/1/17 - 34 6/1 - 12/1 2.25 - 3.00%9,850,000 9,620,000
2016H 10/6/16 12/1/17 - 30 6/1 - 12/1 3.00 - 4.00%6,890,000 6,485,000
Corporate purpose bonds:
2009A 5/1/09 12/1/09 - 28 6/1 - 12/1 2.00 - 5.75%16,740,000 9,580,000
2011C 11/1/11 6/1/12 - 31 6/1 - 12/1 2.00 - 4.00%9,965,000 7,120,000
2012B 11/1/12 12/1/13 - 31 6/1 - 12/1 2.00 - 3.00%12,480,000 9,315,000
2013B 12/4/13 12/1/14 - 33 6/1 - 12/1 2.00 - 4.00%9,080,000 7,625,000
2014B 11/5/14 12/1/15 - 33 6/1 - 12/1 2.00 - 3.00%14,455,000 12,590,000
2015A 7/15/15 12/1/16 - 34 6/1 - 12/1 2.00 - 4.00%18,750,000 17,280,000
2016A 6/14/16 12/1/17 - 35 6/1 - 12/1 2.00 - 4.00%7,950,000 6,545,000
2017A 7/6/17 12/1/18 - 36 6/1 - 12/1 3.00 - 4.00%5,440,000 5,440,000
Promissory notes:
ST FL 05 5/31/05 3/15/07 - 25 3/15 5.00%200,000 102,705
2009B 5/1/09 12/1/10 - 18 6/1 - 12/1 2.00 - 4.50%2,945,000 315,000
2010B 9/2/10 8/1/11 - 20 2/1 - 8/1 0.80 - 3.55%4,150,000 1,625,000
2011D 11/1/11 6/1/12 - 21 6/1 - 12/1 2.35%2,895,000 1,245,000
2012C 11/1/12 12/1/13 - 21 6/1 - 12/1 2.00%3,660,000 1,650,000
ST FL 13 3/8/13 3/15/14 - 22 3/15 2.75%2,000,000 1,174,155
ST FL 13 4/3/13 3/15/14 - 23 3/15 2.75%640,000 404,084
ST FL 13 11/19/13 3/15/14 - 23 3/15 2.75%2,644,100 1,849,095
2013C 12/4/13 12/1/14 - 23 6/1 - 12/1 2.00 -3.00%1,690,000 1,055,000
2014C 11/5/14 12/1/15 - 23 6/1 - 12/1 2.00%2,615,000 1,765,000
ST FL 15 2/17/15 3/15/16- 24 3/15 3.50%1,250,000 1,007,159
2015B 7/15/15 12/1/16 - 24 6/1 - 12/1 2.00 -3.00%4,210,000 3,310,000
ST FL 16 7/19/16 3/15/17- 26 3/15 3.00%711,300 642,716
2016B 9/14/16 12/1/17 - 25 6/1 - 12/1 2.00 -4.00%4,700,000 4,110,000
2017B 7/6/17 12/1/18 - 26 6/1 - 12/1 2.00 -4.00%5,830,000 5,830,000
ST FL CONV C ENTER 8/21/17 3/15/18-27 3/15 4.50%1,500,000 1,500,000
Total Outstanding General Obl igation Debt 136,799,914$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
61
Annual principal and interest maturities of the outstanding general obligation debt of $136,799,914 on December 31,
2017 are detailed below:
December 31,
Year Ended Principal Interest Principal Interest Principal Interest
2018 12,017,594$ 3,591,520$ 3,433,722$ 868,386$ 15,451,316$ 4,459,906$
2019 11,947,648 3,109,657 3,203,887 784,936 15,151,535 3,894,593
2020 11,775,748 2,751,842 2,981,387 679,604 14,757,135 3,431,446
2021 11,134,126 2,375,642 2,709,090 572,488 13,843,216 2,948,130
2022 9,245,003 2,034,992 2,456,041 476,009 11,701,044 2,511,001
2023 - 2027 33,576,681 6,419,869 7,563,987 1,223,827 41,140,668 7,643,696
2028 - 2032 18,100,890 2,371,735 1,339,110 140,850 19,440,000 2,512,585
2033 - 2036 4,960,000 248,331 355,000 10,875 5,315,000 259,206
112,757,690$22,903,588$ 24,042,224$ 4,756,975$ 136,799,914$27,660,563$
Governmental Activiti es Business-type Activities Totals
For governmental activities, the other long-term liabilities are generally funded by the general fund.
Legal Margin for New Debt
The City’s legal margin for creation of additional general obligation debt on December 31, 2017 was $60,712,366 as
follows:
Equal ized v al uation of the City 3,931,778,200$
Statutory limitation percentage (x) 5%
General obl igation debt limitation, per Section 67.03 of the
Wisconsin Statutes 196,588,910
Total outstanding general obl igation debt appl icabl e to debt limitation 136,799,914$
Less: Amounts avail abl e for financing general obl igation debt
Debt service fund 923,371
Net outstanding general obl igation debt appl icabl e to debt limitation 135,876,543
Legal margin for new debt 60,712,367$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
62
Revenue Bonds
Revenue bonds outstanding on December 31, 2017 totaled $182,802,130 and were comprised of the following issues:
Issue Year of Principal Interest Interest Original Balance
Number Issue Payable Payable Rates Indebtedness 12/31/17
Water Util ity
Safe Drinking Rev enue Bond 4874-01 1998 5/1/99 - 19 5/1 & 11/1 2.64%11,913,672$ 784,743$
Safe Drinking Rev enue Bond 4874-99 2000 5/1/01 - 19 5/1 & 11/1 2.97%13,636,364 1,817,594
Safe Drinking Rev enue Bond 4874-98 2001 5/1/02 - 21 5/1 & 11/1 2.75%3,483,913 855,561
Safe Drinking Rev enue Bond 4874-02 2008 5/1/10 - 28 5/1 & 11/1 2.365%1,344,824 4,620,515
Rev enue Bond 2011F 2011 1/1/13 - 31 1/1 & 7/1 0.85 - 5.15%6,510,000 4,555,000
Rev enue Bond 2012F 2012 1/1/14 - 32 1/1 & 7/1 2.25 - 3.125%5,430,000 4,415,000
Rev enue Bond 2013E 2013 1/1/15 - 33 1/1 & 7/1 2.00 - 4.125%3,785,000 3,130,000
Rev enue Bond 2014E 2014 1/1/16 - 34 1/1 & 7/1 2.00 - 4.00%3,795,000 3,290,000
Rev enue Bond 2015E 2015 1/1/16 - 35 1/1 & 7/1 3.00 - 4.00%6,660,000 6,150,000
Rev enue Bond 2016F 2016 1/1/17 - 36 1/1 & 7/1 2.00 - 3.00%6,835,000 6,275,000
Refunding Rev enue Bond 2016G 2016 1/1/17 - 30 1/1 & 7/1 2.00 - 4.00%11,690,000 10,685,000
Rev enue Bond 2017C 2017 1/1/18 - 37 1/1 & 7/1 3.00 - 5.00%8,880,000 8,880,000
Sewer Util ity
Cl ean Water Revenue Bo nd 4130-04 1999 5/1/00 - 19 5/1 & 11/1 2.64%3,025,930 398,645
Cl ean Water Revenue Bo nd 4130-05 2004 5/1/05 - 24 5/1 & 11/1 2.396%1,989,231 1,381,022
Rev enue Bond 2010G 2010 5/1/11 - 30 5/1 & 11/1 0.85 - 5.15%4,890,000 3,580,000
Rev enue Bond 2011E 2011 5/1/12 - 31 5/1 & 11/1 2.00 - 4.00%8,290,000 5,345,000
Rev enue Bond 2012E 2012 5/1/13 - 32 5/1 & 11/1 2.25 - 3.00%6,270,000 4,790,000
Rev enue Bond 2013D 2013 1/1/14 - 33 5/1 & 11/1 2.00 - 4.125%4,175,000 3,425,000
Rev enue Bond 2014D 2014 5/1/15 - 34 5/1 & 11/1 2.00 - 4.00%5,980,000 5,140,000
Cl ean Water Revenue Bo nd 4130-14 2014 5/1/15 - 34 5/1 & 11/1 2.625%5,706,185 5,184,050
Rev enue Bond 2015D 2015 5/1/16 - 35 5/1 & 11/1 2.00 - 4.00%6,695,000 6,165,000
Rev enue Bond 2016D 2016 5/1/17 - 36 5/1 & 11/1 2.00 - 3.00%10,045,000 9,645,000
Rev enue Bond 2017D 2017 5/1/18 - 37 5/1 & 11/1 3.00 - 5.00%15,075,000 15,075,000
Storm W ater Util ity
Rev enue Bond 2012D 2012 5/1/13 - 32 5/1 & 11/1 3.00 - 3.12%6,810,000 5,460,000
Rev enue Bond 2013A 2013 1/1/14 - 33 5/1 & 11/1 3.00 - 4.125%15,220,000 13,060,000
Rev enue Bond 2014A 2014 5/1/15 - 34 5/1 & 11/1 2.00 - 4.00%8,300,000 7,435,000
Rev enue Bond 2015C 2015 5/1/16 - 35 5/1 & 11/1 3.00 - 4.00%13,115,000 12,025,000
Rev enue Bond 2016E 2016 5/1/17 - 36 5/1 & 11/1 2.00 - 3.00%5,175,000 5,005,000
Refunding Rev enue Bond 2016E 2016 5/1/17 - 30 5/1 & 11/1 2.00 - 4.00%15,295,000 14,510,000
Rev enue Bond 2017E 2017 5/1/18 - 37 5/1 & 11/1 3.00 - 5.00%9,720,000 9,720,000
T otal Outstanding Rev enue Bonds 182,802,130$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
63
Annual principal and interest maturities of the outstanding revenue bonds of $182,802,130 on December 31, 2017 are
detailed below:
Year Ended Build America
December 31,Principal Interest Bond Credit Total
2018 11,469,352$ 5,906,330$ (54,000)$ 17,321,682$
2019 11,561,711 5,407,030 (51,530) 16,917,211
2020 10,773,646 5,075,297 (48,647) 15,800,296
2021 11,155,251 4,719,767 (45,588) 15,829,430
2022 10,798,731 4,345,479 (42,311) 15,101,899
2023 - 2027 53,928,955 16,194,432 (151,065) 69,972,322
2028 - 2032 48,864,646 7,731,218 (28,410) 56,567,454
2033 - 2037 24,249,838 1,509,812 - 25,759,650
182,802,130$50,889,365$ (421,551)$ 233,269,944$
Business-type Activities
Build America Bonds
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 qualify 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.
G.CONDUIT DEBT OBLIGATIONS
From time to time, the City has issued Industrial Revenue Bonds to provide financial assistance to private sector entities
for the acquisition and construction of industrial and commercial facilities deemed to be in the public interest. The
bonds are secured by the property financed and are payable solely from payments received on the underlying
mortgage loans. Upon repayment of the bonds, ownership of the acquired facilities transfers to the private-sector
entity served by the bond issuance. Neither the City, the State, nor any political subdivision thereof is obligated in any
manner for repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial
statements.
H.PENSION PLAN
1.Plan Description
The WRS is a cost-sharing, multiple-employer, defined benefit pension plan. WRS benefits and other plan provisions
are established by Chapter 40 of the Wisconsin Statutes. Benefit terms may only be modified by the legislature.
The retirement system is administered by the Wisconsin Department of Employee Trust Funds (ETF). The system
provides coverage to all eligible State of Wisconsin, local government and other public employees. All employees,
initially employed by a participating WRS employer on or after July 1, 2011, and expected to work at least 1200
hours a year (880 hours for teachers and school district educational support employees) and expected to be
employed for at least one year from employee’s date of hire are eligible to participate in the WRS.
ETF issues a standalone Comprehensive Annual Financial Report (CAFR), which can be found at
http://etf.wi.gov/publications/cafr.htm.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
64
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 and on or after April 24, 1998, and prior to July 1, 2011, are immediately vested.
Participants who initially became WRS eligible on or after July 1, 2011, must have five years of creditable service to
be vested.
Employees who retire at or after age 65 (54 for protective occupation employees, 62 for elected officials and State
executive participants) are entitled to receive an unreduced retirement benefit. The factors influencing the benefit
are 1) final average earnings, 2) years of creditable service, and 3) a formula factor.
Final average earnings is the average of the participant’s three highest years’ earnings. Creditable service is the
creditable current and prior service expressed in years or decimal equivalents of partial years for which a
participant receives earnings and makes contributions as required. The formula factor is a standard percentage
based on employment category.
Employees may retire at age 55 (50 for protective occupation employees) and receive reduced benefits. Employees
terminating covered employment before becoming eligible for a retirement benefit may withdraw their
contributions and forfeit all rights to any subsequent benefits.
The WRS also provides death and disability benefits for employees.
2.Post-Retirement Adjustments
The Employee Trust Funds Board may periodically adjust annuity payments from the retirement system based on
annual investment performance in accordance with s. 40.27, Wis. Stat. An increase (or decrease) in annuity
payments may result when investment gains (losses), together with other actuarial experience factors, create a
surplus (shortfall) in the reserves, as determined by the system’s consulting actuary. Annuity increases are not
based on cost of living or other similar factors. For Core annuities, decreases may be applied only to previously
granted increases. By law, Core annuities cannot be reduced to an amount below the original, guaranteed amount
(the “floor”) set at retirement. The Core and Variable annuity adjustments granted during recent years are as
follows:
Year Core Fund Adjustment Variable Fund Adjustment
2007 3%10%
2008 6.6 0
2009 (2.1)(42)
2010 (1.3)22
2011 (1.2)11
2012 (7.0)(7)
2013 (9.6)9
2014 4.7 25
2015 2.9 2
2016 0.5 (5)
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
65
3.Contributions
Required contributions are determined by an annual actuarial valuation in accordance with Chapter 40 of the
Wisconsin Statutes. The employee required contribution is one-half of the actuarially determined contribution rate
for general category employees, including teachers, and Executives and Elected Officials. Starting on January 1,
2016, the Executives and Elected Officials category was merged into the General Employee Category. Required
contributions for protective employees are the same rate as general employees. Employers are required to
contribute the remained of the actuarially determined contribution rate. The employer may not pay the employee
required contribution unless provided for by an existing collective bargaining agreement.
During the reporting period ending December 31, 2016, the WRS recognized $3,073,752 in contributions from the
City.
Contribution rates for the reporting period are:
Employee Category Employee Employer
General 6.6%6.6%
Protective w ith Social Security 6.6%9.4%
Protective w ithout Social Security 6.6%13.2%
4.Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
At December 31, 2017, the City reported a liability of $2,636,523 for its proportionate share of the net pension
liability. The net pension liability was measured as of December 31, 2016, and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of December 31, 2015 rolled forward
to December 31, 2016. No material changes in assumptions or benefit terms occurred between the actuarial
valuation date and the measurement date. The City’s proportion of the net pension liability (asset) was based on
the City’s share of contributions to the pension plan relative to the contributions of all participating employers. At
December 31, 2016, the City’s proportion was 0.31987366%, which was an increase of 0.00330351% from its
proportion measured as of December 31, 2015.
For the year ended December 31, 2017, the City recognized pension expense of $6,793,333.
At December 31, 2017, the City reported deferred outflows of resources and deferred inflows of resources related
to pensions from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences betw een ex pected and actual ex perience 1,005,307$ 8,291,636$
Net differences betw een projected and actual
earnings on pension pl an inv estments 13,123,773 -
Changes in assumptions 2,756,587 -
Changes in proportion and differences betw een
empl oy er contributions and proportionate share
of contributions 62,507 62,658
Empl oy er contributions subsequent to the
measurement date 3,446,908 -
T otal 20,395,082$ 8,354,294$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
66
$3,446,908 reported as deferred outflows related to pension resulting from the City’s contributions subsequent to
the measurement date will be recognized as a reduction of the net pension liability (asset) in the year ended
December 31, 2018. Other amounts reported as deferred outflows of resources and deferred inflows of resources
related to pension will be recognized in pension expense as follows:
Year ended
December 31,Expense
2017 3,505,415$
2018 3,505,415
2019 2,382,279
2020 (803,065)
2021 3,836
T otal 8,593,880$
5.Actuarial Assumptions
The total pension liability in the December 31, 2016, actuarial valuation was determined using the following
actuarial assumptions, applied to all periods included in the measurement:
Actuarial V al uation Date:December 31, 2015
Measurement Date of Net Pension Liability (A sset):December 31, 2016
Actuarial Cost Method:Entry Age
Asset V al uation Method:Fair V al ue
Long-term Ex pected Rate of Return:7.2%
Discount Rate:7.2%
Sal ary Increases:
Infl ation 3.2%
Seniority /Merit 0.2% - 5.6%
Mortal ity Wisconsin 2012 Mortal ity T abl e
Post-retirement A djustments*2.1%
No post-retirement adjustment is guaranteed. Actual adjustments are based on recognized investment return,
actuarial experience and other factors. 2.1% is the assumed annual adjustment based on the investment return
assumption and the post-retirement discount rate.
Actuarial assumptions are based upon an experience study conducted in 2015 using experience from 2012 -2014.
The total pension liability for December 31, 2016 is based upon a roll-forward of the liability calculated from the
December 31, 2015 actuarial valuation.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
67
Long-term Expected Return on Plan Assets. The long-term expected rate of return on pension plan investments
was determined using a building-block method in which best-estimate ranges of expected future real rates of
return (expected returns, net of pension plan investment expense and inflation) are developed for each major
asset class. These ranges are combined to produce the long-term expected rate of return by weighting the
expected future real rates of return by the target asset allocation percentage and by adding expected inflation.
The target allocation and best estimates of arithmetic real rates of return for each major asset class are
summarized in the following table:
Destination Long-term Long-term
Current Asset Target Asset Expected Nominal Expected Real
Allocation %Allocation %Rate of Return %Rate of Return %
Core Fund Asset Cl ass
Gl obal Equities 50%45%8.3%5.4%
Fixed Income 24.5%37%4.2%1.4%
Infl ation Sensitive Assets 15.5%20%4.3%1.5%
Real Estate 8%7%6.5%3.6%
Priv ate Equity /Debt 8%7%9.4%6.5%
Multi-asset 4%4%6.6%3.7%
T otal Core Fund 110%120%7.4%4.5%
Variabl e Fund Asset Cl ass
U.S. Equities 70%70%7.6%4.7%
International Equities 30%30%8.5%5.6%
T otal V ariabl e Fund 100%100%7.9%5%
New Engl and Pension Consul tants Long T erm US CPI (Infl ation) Forecast: 2.75%
Asset A llocations are managed w ithin establ ished ranges, target percentages may differ from
actual monthl y al locations
Single Discount Rate. A single discount rate of 7.20% was used to measure the total pension liability. This single
discount rate was based on the expected rate of return on pension plan investments of 7.20% and a long-term
bond rate of 3.78%. Because of the unique structure of WRS, the 7.20% expected rate of return implies that a
dividend of approximately 2.1% will always be paid. For purposes of the single discount rate, it was assumed that
the dividend would always be paid. The projection of cash flows used to determine this single discount rate
assumed that plan members contributions will be made at the current contribution rate and that employer
contributions will be made at rates equal to the difference between actuarially determined contribution rates and
the member rate. Based on these assumptions, the pension plan’s fiduciary net position was projected to be
available to make all projected future benefit payments (including expected dividends) of current plan members.
Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of
projected benefit payments to determine the total pension liability.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
68
Sensitivity of the City’s proportionate share of the net pension liability (asset) to changes in the discount rate.
The following presents the City’s proportionate share of the net pension liability (asset) calculated using the
discount rate of 7.2 percent, as well as what the City’s proportionate share of the net pension liability (asset) would
be if it were calculated using a discount rate that is 1-percentage-point lower (6.20 percent) or 1-percentage-point
higher (8.20 percent) than the current rate:
1% Decrease to Curre nt 1% Increase to
Discount Rate Discount Rate Discount Rate
(6 .20%)(7.20%)(8.20%)
City 's proportionate share of
the net pension liability (asset)34,685,146$ 2,636,523$ (22,042,369)$
Pension plan fiduciary net position.Detailed information about the pension plan’s fiduciary net position is
available in separately issued financial statements available at http://etf.wi.gov/publications/cafr.htm.
6.Payables to the Pension Plan
At December 31, 2017,the City reported a payable of $701,303 for the outstanding amount of contributions to the
pension plan for the year ended December 31, 2017.
I.OTHER POSTEMPLOYMENT BENEFITS
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 terminated plan.
The total expense for 2017 was approximately $35,875. The total estimated future costs to the City of this plan as
of December 31, 2017 is not determinable.
Health Care
1.Plan Descriptions
The City provides health care insurance coverage for employees who retire until they reach the age of 65. The
retired employee contributes 100% of the premium for family coverage or 100% of the premium for single
coverage.There are 562 active and 25 retired employees in the plan.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
69
2.Annual OPEB Cost and Net OPEB Obligation
The City’s annual other post-employment benefit (OPEB) cost (expense) is calculated based on the annual required
contribution (ARC), and the amount actuarially determined in accordance with the parameters of GASB Statement
45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal costs each
year and amortize any unfunded actuarial liabilities over a period not to exceed thirty years. The following table
shows the components of the City’s annual OPEB cost for the year, the amount actually contributed to the plan,
and changes in the City’s net OPEB obligation.
Component Amount
Annual required contribution 534,688$
Interest on net O PEB 161,252
Adjustment to annual required contribution (266,243)
Annual OPEB cost (ex pense)429,697
Contributions made (199,000)
Change in net OPEB obl igation 230,697
OPEB obl igation - beginning of year 5,375,052
OPEB obl igation - end of year 5,605,749$
The annual required contribution for the current year was determined as part of the December 31, 2016 actuarial
valuation using the unit credit actuarial cost method. The actuarial assumptions included (a) 3.0% discount rate, and
(b) medical trend rate with initial rate at 8.7% and ultimate rate at 4.0%.
The actuarial methods and assumptions used include techniques that are designed to reduce the effect of short-
term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the 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, 2017 is 30
years, and the remaining amount is $5,008,022.
3.Trend Information
The City’s annual OPEB cost, the percentage of the annual OPEB costs contributed to the plan, and the net OPEB
obligation for 2017 and the previous 3 fiscal years is as follows:
Fiscal Annual Percentage of Net
Year OPEB Annual OPEB OPEB
Ended Cost Cost Contributed Obligation
12/31/15 504,120$ 37.09%5,147,509$
12/31/16 414,543 45.11%5,375,052
12/31/17 429,697 46.31%5,605,749
4.Funded Status and Funding Progress
The City’s most recent actuarial valuation date was December 31, 2016. As of December 31, 2017, using the most
recent actuarial valuation date, the City’s unfunded actuarial accrued liability (UAAL) was $5,008,022.
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.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
70
The City will not directly pay out the benefit amount since the retirees pay their entire premium. The benefit that
the retirees receive are included within the City’s annual premium.
5.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 included 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 included techniques that are designed to reduce the effect of short-term
volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective
of the calculations. Additional information as of the latest actuarial valuation follows:
Valuation date December 31, 2016
Actuarial cost method Unit Credit
Amortization method Lev el
Remaining amortization period 30 y ears
Actuarial assumptions:
Investment rate of return 3.00%
Heal thcare cost trend rate initial -8.70%
ul timate -4.00%
J.FUND EQUITY
Nonspendable Fund Balance
In the fund financial statements, portions of the governmental fund balances are amounts that cannot be spent
because they are either 1) not in spendable form or 2) legally or contractually required to be maintained intact. At
December 31, 2017, nonspendable fund balance was as follows:
General Fund
Nonspendabl e
Inventories and prepaid items 59,300$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
71
Restricted Fund Balance
In the fund financial statements, portions of governmental fund balances are not available for appropriation or are
legally restricted for use for a specific purpose. At December 31, 2017, restricted fund balance was as follows:
Debt Serv ice Fund
Restricted for
Debt retirement 923,371$
Nonmajor Governmental Funds
Special Rev enue Funds
Restricted for
Committee On Aging 84,577
Business Improv ement District 66,220
Recycling 904,118
Library 479,451
Museum 748,526
Cemetery 23,318
Community Dev el opment Bl ock Grant 132,917
Rental Rehabil itation Loan Program 221,280
Local Rev ol ving Loan Program 2,748,051
Pol ice Special Funds 5,354
Fire/Safety 345,705
Project D.A.R.E.3
Pol ice Asset Forfeiture 34,826
Federal Pol ice A sset Forfeiture 18,546
EMS Fire Grant 25,876
Historical Marker 23,559
Parks Rev enue Facilities 513,726
Heal thy Neighborhood Imitative 201,919
Subtotal 6,577,972
Capital Projects Funds
Restricted for
T ax Incremental District No. 8 169,522
T ax Incremental District No. 10 643
T ax Incremental District No. 11 23,147
T ax Incremental District No. 12 720,963
T ax Incremental District No. 13 2,704,780
T ax Incremental District No. 14 777,325
T ax Incremental District No. 15 2,318,023
T ax Incremental District No. 16 1,091,112
T ax Incremental District No. 17 911,637
T ax Incremental District No. 19 337,702
T ax Incremental District No. 20 6,366,228
T ax Incremental District No. 24 24,051
T ax Incremental District No. 33 3,218
Subtotal 15,448,351
Permanent Fund
Restricted for
T rust fund specific purposes 10,622,852
T otal Restricted Fund Bal ance 33,572,546$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
72
Committed Fund Balance
In the fund financial statements, portions of government fund balances are committed by County Board action. At
December 31, 2017, General Fund balance was committed as follows:
Nonmajor Governmental Funds
Special Rev enue Funds
Committed for
Street Lighting 6,397$
Senior Center Rev ol ving Loans 60,202
Bicy cl e 15,914
Cabl e T V Franchise Escrow 6,083
Garbage Disposal 18,019
Pol lock Water Park 50,534
Heal thy Neighborhood Imitative 1,013,942
T otal Committed Fund Bal ance 1,171,091$
Assigned Fund Balance
Portions of governmental fund balances have been assigned to represent tentative management plans that are subject
to change. At December 31, 2017, fund balance was assigned as follows:
General Fund
Assigned for subsequent year's ex penditures 86,870$
Nonmajor Governmental Funds
Special Rev enue Funds
Assigned for subsequent year's ex penditures
Street Lighting 5,338
Capital Projects Funds
Assigned for subsequent year's ex penditures
Capital Improv ements
Sidew alk Construction 515,892
Street Improvement 9,256,057
Contract Control 3,203,690
Equipment 6,356,660
Park Improv ement and Acquisition 593,850
Park Subdivision Improvement 365,390
Mct Rochl in Park Somestack 2,000
Golf Course Equipment Improv ement 3,275
Senior Center 131,975
Grand Opera House 82,318
City Hal l Complex Improv ements 111,562
Parking Ramp Improv ements 212,450
Subtotal 20,835,119
T otal 20,927,327$
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
73
Minimum General Fund Balance Policy
The City has also adopted a minimum fund balance policy of 16% of subsequent year budgeted revenues for the
general fund. The minimum fund balance is maintained for cash flow and working capital purposes. The minimum fund
balance amount is calculated as follows:
Budgeted 2018 General Fund Rev enues 45,222,600$
Minimum Fund Bal ance %(x) 16%
Minimum Fund Bal ance A mount 7,235,616$
The City’s unassigned general fund balance of $10,230,445 is above the minimum fund balance amount.
Net Position
The City reports restricted net position at December 31, 2017 as follows:
Governmental A ctivities
Restricted for
Construction of assets 6,856,232$
Debt serv ice 246,223
Special purposes 6,577,972
T rust agreements 10,622,852
Rev ol ving loans 4,075,888
T otal Governmental Activities Restricted Net Position 28,379,167
Business-ty pe A ctivities
Restricted for
Construction of assets 2,183,173
Debt serv ice 10,067,021
T otal Business-ty pe Activ ities Restricted Net Position 12,250,194
T otal Restricted Net Position 40,629,361$
NOTE 4:OTHER INFORMATION
A.TAX INCREMENTAL FINANCING DISTRICTS
The City has established separate capital projects funds for the Tax Incremental District (TID) noted below which were
created by the City in accordance with Section 66.1105 of the Wisconsin Statutes. At the time the District was created,
the property tax base within the District was “frozen” and increment taxes resulting from increases to the property tax
base are used to finance District improvements, including principal and interest on long-term debt issued by the City to
finance such improvements. The Statutes allow eligible project costs to be incurred up to five years prior to the
maximum termination date. The City’s Districts are still eligible to incur project costs.
Since creation of the above Districts, the City has provided various financing sources to the TID. The foregoing amounts
are not recorded as liabilities in the TID capital project fund but can be recovered by the City from any future excess tax
increment revenues.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
74
The intent of the City is to recover the above amounts from future TID surplus funds, if any, prior to termination of the
respective Districts. Unless terminated by the City prior thereto, each TID has a statutory termination year as follows:
Termination
Year
TID No. 8 2018
TID No. 10 2020
TID No. 11 2022
TID No. 12 2024
TID No. 13 2025
TID No. 14 2027
TID No. 15 2028
TID No. 16 2028
TID No. 17 2028
TID No. 18 2025
TID No. 19 2026
TID No. 20 2031
TID No. 21 2033
TID No. 23 2030
TID No. 24 2032
TID No. 25 2035
TID No. 26 2033
TID No. 27 2034
TID No. 28 2043
TID No. 29 2043
TID No. 30 2038
TID No. 31 2039
TID No. 32 2039
TID No. 33 2039
B.TAX ABATEMENTS
The City has created 33 tax incremental financing districts (the “Districts”) in accordance with Wisconsin State Statute
66.1105, Tax Increment Law. As part of the project plan for the Districts, the City entered into agreements with two
developers for the creation of tax base within the Districts. The agreements require the City to make annual
repayments of property taxes collected within the Districts to the developers, based upon the terms of the
agreements. As tax abatements, those developer payments and the related property tax revenues are not reported as
revenues or expenditures in the financial statements.
For the year ended December 31, 2017, the City abated property taxes totaling $475,167 under this program which
include the following tax abatement agreements:
A property tax abatement of $270,040 to a developer within Tax Incremental District No. 14.
A property tax abatement of $205,127 to a developer within Tax Incremental District No. 24.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
75
C.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.
D.CONTINGENCIES
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. An audit under the Uniform Guidance has been conducted
but final acceptance is still pending. 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.
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.
E.SELF-INSURED MEDICAL CARE COVERAGE PLAN
The City maintained a self-insured medical care coverage plan for its employees through December 31, 2015. In 2016,
the City began purchasing health coverage from an outside carrier. The City has established the Hospital Insurance Fund
(an Internal Service Fund) to account for the financing of its uninsured risk of loss.
The Hospital Insurance Fund has an established reserve of $1,890,552 at December 31, 2017 and is reported as the net
position balance of the Internal Service Fund. This reserve will be used to finance any future claims of the previous self-
insurance plan. The claims liability of $0, reported in the fund at December 31, 2017, 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. There was no
change from 2016 to the funds’ claims liability in 2017, with an ending balance of $0.
F.SUBSEQUENT EVENT
In 2018, The City approved the creation of Tax Incremental Districts No. 34 & 35 (the “Districts”). The creation of these
districts are for development by Oshkosh Corporation of the lands that the City’s Golf Course operated on during the
year ended December 31, 2017. As part of the creation, effective for the 2018 season, the Golf Course has ceased
operations and has been sold to Oshkosh Corporation for the construction of their company headquarters along with
various other development projects within the Districts. As of the report date, the club house of the Golf Course has
been demolished and no operations will occur in 2018.
The City’s Golf Course is accounted for as an Enterprise Fund, the Golf Course fund, which is reported as a nonmajor
fund.In 2018, this fund will be closed out and all remaining funds will be transferred out to close out the fund.
City of Oshkosh, Wisconsin
NOTES TO BASIC FINANCIAL STATEMENTS
DECEMBER 31, 2017
76
G.UPCOMING ACCOUNTING PRONOUNCEMENTS
In June 2015, the GASB issued a new standard addressing accounting and financial reporting for postemployment
benefits other than pensions (OPEB). GASB Statement No. 75, Accounting and Financial Reporting for Postemployment
Benefits Other Than Pensions, addresses accounting and reporting by employer governments that provide OPEB
benefits to their employees. The City will, after adoption of GASB No. 75, recognize on the face of the financial
statements its OPEB liability. GASB No. 75 is effective for fiscal years beginning after June 15, 2017. The City is currently
evaluating the impact this standard will have on the financial statements when adopted.
In January 2017, the GASB issued Statement No. 84, Fiduciary Activities. The Statement establishes criteria for
identifying fiduciary activities and addresses financial reporting for these activities. This statement is effective for
reporting periods beginning after June 15, 2018. The City is currently evaluating the impact this standard will have on
the financial statements when adopted.
In June 2017, the GASB issued Statement No. 87, Leases. The Statement establishes a single model for lease accounting
based on the principle that leases are financings of the right to use an underlying asset. This statement is effective for
reporting periods beginning after December 15, 2019. The City is currently evaluating the impact this standard will have
on the financial statements when adopted.
REQUIRED SUPPLEMENTARY INFORMATION
City of Oshkosh, Wisconsin
SCHEDULE OF FUNDING PROGRESS
OTHER POSTEMPLOYMENT BENEFIT PLAN
FOR THE YEAR ENDED DECEMBER 31, 2017
( 4 )
Unfunded UAAL
( 2 )Actuarial as a
Actual ( 1 )Actuarial ( 3 )Accrued Percentage
Valuation Actuarial Accrued Funded Liability ( 5 )of Covered
Date Value of Liability Ratio (UAAL)Covered Payroll
January 1 Assets (AAL)( 1 ) / ( 2 )( 2 ) - ( 1 )Payroll ( 4 ) / ( 5 )
2012 -$ 11,550,920$ 0.00%11,550,920$ N/A N/A
2014 -$ 5,345,806$ 0.00%5,345,806$ N/A N/A
2016 -$ 5,008,022$ 0.00%5,008,022$ N/A N/A
See notes to required supplementary information.
77
City of Oshkosh, Wisconsin
SCHEDULE OF EMPLOYER CONTRIBUTIONS
OTHER POSTEMPLOYMENT BENEFIT PLAN
FOR THE YEAR ENDED DECEMBER 31, 2017
Annual Required
Year Ended Employer Contribution Percentage
December 31,Contributions (ARC)Contributed
2015 224,771$ 597,745$ 37.60%
2016 187,000$ 515,090$ 36.30%
2017 199,000$ 534,688$ 37.22%
See notes to required supplementary information.
78
City of Oshkosh, Wisconsin
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY (ASSET)
WISCONSIN RETIREMENT SYSTEM
LAST 10 FISCAL YEARS
Proportionate
Share of the Net Plan Fiduciary
Proportionate Pension Liability Net Position as a
Proportion of Share of the Covered-Employee (Asset) as a Percentage of the
Fiscal the Net Pension Net Pension Payroll Percentage of Total Pension
Year Ending Liability (Asset)Liability (Asset)(plan year)Covered Payroll Liability (Asset)
12/31/15 0.31842486%(7,821,386)$ 34,551,515$ 22.64%102.74%
12/31/16 0.31657015%5,144,203 34,050,370 15.11%98.20%
12/31/17 0.31987366%2,636,523 35,129,816 7.51%99.12%
SCHEDULE OF CONTRIBUTIONS
WISCONSIN RETIREMENT SYSTEM
LAST 10 FISCAL YEARS
Contributions in
Relation to the Contributions
Contractually Contractually Contribution Covered-Employee as a Percentage of
Fiscal Required Required Deficiency Payroll Covered-Employee
Year Ending Contributions Contributions (Excess)(fiscal year)Payroll
12/31/15 3,014,493$ 3,014,493$ -$ 34,050,370$ 8.85%
12/31/16 3,073,752 3,073,752 - 35,129,816 8.75%
12/31/17 3,446,908 3,446,908 - 36,243,906 9.51%
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
There were no changes of benefit terms or assumptions for any participating employer in the WRS.
The amounts reported for each fiscal year were determined as of the calendar year-end that occurred within the prior fiscal
year. The City is required to present the last ten fiscal years of data; however accounting standards allow the presentation of
as many years as are available until ten fiscal years are presented.
79
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SUPPLEMENTARY INFORMATION
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
Special Capital
Revenue Projects Permanent Total
ASSETS
Cash and investments 7,406,533$ 39,872,836$ 10,898,863$ 58,178,232$
Receivables
Taxes and special charges 6,604,000 8,242,267 - 14,846,267
Accounts 374,712 313,428 - 688,140
Loans 4,075,888 - - 4,075,888
Due from other funds 178,143 1,440,868 - 1,619,011
Due from other governments - 250,000 - 250,000
Deposit with GO HNI 201,919 - - 201,919
Total assets 18,841,195$ 50,119,399$ 10,898,863$ 79,859,457$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 253,017$ 4,581,180$ -$ 4,834,197$
Due to other funds 365,055 10,220,712 276,011 10,861,778
Due to other governments 3,920,888 - - 3,920,888
Special deposits 10,001 198,884 - 208,885
Unearned revenues 50,000 26,000 - 76,000
Total liabilities 4,598,961 15,026,776 276,011 19,901,748
Deferred inflows of resources
Property taxes levied for subsequent year 6,604,000 8,242,267 - 14,846,267
Special charges assessed - 510,800 - 510,800
Total deferred inflows of resources 6,604,000 8,753,067 - 15,357,067
Fund balances
Restricted 6,577,972 15,448,351 10,622,852 32,649,175
Committed 1,171,091 - - 1,171,091
Assigned 5,338 20,835,119 - 20,840,457
Unassigned (116,167) (9,943,914) - (10,060,081)
Total fund balances 7,638,234 26,339,556 10,622,852 44,600,642
Total liabilities, deferred inflows of resources,
and fund balances 18,841,195$ 50,119,399$ 10,898,863$ 79,859,457$
80
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
Committee Business
on Improvement Street
Aging District Recycling Lighting
ASSETS
Cash and investments 40,732$ 73,482$ 905,690$ 95,270$
Receivables
Taxes and special charges 312,100 - - 1,052,000
Accounts 50,000 - 125 -
Loans - - - -
Due from other funds - - - -
Due from other governments - - - -
Deposit with GO HNI - - - -
Total assets 402,832$ 73,482$ 905,815$ 1,147,270$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 6,155$ 7,262$ 1,697$ 83,535$
Due to other funds - - - -
Due to other governments - - - -
Special deposits - - - -
Unearned revenues - - - -
Total liabilities 6,155 7,262 1,697 83,535
Deferred inflows of resources
Property taxes levied for subsequent year 312,100 - - 1,052,000
Special charges assessed - - - -
Total deferred inflows of resources 312,100 - - 1,052,000
Fund balances
Restricted 84,577 66,220 904,118 -
Committed - - - 6,397
Assigned - - - 5,338
Unassigned - - - -
Total fund balances 84,577 66,220 904,118 11,735
Total liabilities, deferred inflows
of resources, and fund balances 402,832$ 73,482$ 905,815$ 1,147,270$
Special Revenue
81
Local
Community Rental Revolving
Development Rehabilitation Loan
Library Museum Cemetery Block Grant Loan Program Program
464,017$ 635,652$ 29,189$ 101,996$ 221,281$ 2,643,051$
2,627,000 907,500 302,700 - - -
- - - 42,159 - -
- - - 3,920,888 50,000 105,000
59,414 118,729 - - - -
- - - - - -
- - - - - -
3,150,431$ 1,661,881$ 331,889$ 4,065,043$ 271,281$ 2,748,051$
43,980$ 5,855$ 5,871$ 11,238$ -$ -$
- - - - - -
- - - 3,920,888 - -
- - - - 1 -
- - - - 50,000 -
43,980 5,855 5,871 3,932,126 50,001 -
2,627,000 907,500 302,700 - - -
- - - - - -
2,627,000 907,500 302,700 - - -
479,451 748,526 23,318 132,917 221,280 2,748,051
- - - - - -
- - - - - -
- - - - - -
479,451 748,526 23,318 132,917 221,280 2,748,051
3,150,431$ 1,661,881$ 331,889$ 4,065,043$ 271,281$ 2,748,051$
Special Revenue
82
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
Senior
Center
Revolving Police Fire/
Loans Bicycle Special Safety
ASSETS
Cash and investments 57,202$ 15,914$ 5,354$ 348,173$
Receivables
Taxes and special charges - - - -
Accounts 3,000 - - -
Loans - - - -
Due from other funds - - - -
Due from other governments - - - -
Deposit with GO HNI - - - -
Total assets 60,202$ 15,914$ 5,354$ 348,173$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable -$ -$ -$ 2,468$
Due to other funds - - - -
Due to other governments - - - -
Special deposits - - - -
Unearned revenues - - - -
Total liabilities - - - 2,468
Deferred inflows of resources
Property taxes levied for subsequent year - - - -
Special charges assessed - - - -
Total deferred inflows of resources - - - -
Fund balances
Restricted - - 5,354 345,705
Committed 60,202 15,914 - -
Assigned - - - -
Unassigned - - - -
Total fund balances 60,202 15,914 5,354 345,705
Total liabilities, deferred inflows
of resources, and fund balances 60,202$ 15,914$ 5,354$ 348,173$
Special Revenue
83
Federal Cable TV EMS
Project Police Asset Police Asset Franchise Fire Historical
D.A.R.E.Forfeiture Forfeiture Escrow Grant Marker
3$ 34,826$ 18,546$ 16,083$ 25,876$ 23,559$
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
3$ 34,826$ 18,546$ 16,083$ 25,876$ 23,559$
-$ -$ -$ -$ -$ -$
- - - - - -
- - - - - -
- - - 10,000 - -
- - - - - -
- - - 10,000 - -
- - - - - -
- - - - - -
- - - - - -
3 34,826 18,546 - 25,876 23,559
- - - 6,083 - -
- - - - - -
- - - - - -
3 34,826 18,546 6,083 25,876 23,559
3$ 34,826$ 18,546$ 16,083$ 25,876$ 23,559$
Special Revenue
84
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
Community Parks Public
Develop Revenue Leach Works
Special Facilities Amphitheater Special
ASSETS
Cash and investments -$ 514,886$ -$ -$
Receivables
Taxes and special charges - - 14,000 -
Accounts 277,003 - - -
Loans - - - -
Due from other funds - - - -
Due from other governments - - - -
Deposit with GO HNI - - - -
Total assets 277,003$ 514,886$ 14,000$ -$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 26,826$ 1,160$ 1,289$ -$
Due to other funds 257,538 - 37,000 70,122
Due to other governments - - - -
Special deposits - - - -
Unearned revenues - - - -
Total liabilities 284,364 1,160 38,289 70,122
Deferred inflows of resources
Property taxes levied for subsequent year - - 14,000 -
Special charges assessed - - - -
Total deferred inflows of resources - - 14,000 -
Fund balances
Restricted - 513,726 - -
Committed - - - -
Assigned - - - -
Unassigned (7,361) - (38,289) (70,122)
Total fund balances (7,361) 513,726 (38,289) (70,122)
Total liabilities, deferred inflows
of resources, and fund balances 277,003$ 514,886$ 14,000$ -$
Special Revenue
85
Total
Nonmajor
Pallock Community Healthy Special
Garbage Water Traffic Safety Neighborhood Revenue
Disposal Park Grant Initiative Funds
54,764$ 51,447$ -$ 1,029,540$ 7,406,533$
1,324,700 64,000 - - 6,604,000
2,425 - - - 374,712
- - - - 4,075,888
- - - - 178,143
- - - - -
- - - 201,919 201,919
1,381,889$ 115,447$ -$ 1,231,459$ 18,841,195$
39,170$ 913$ -$ 15,598$ 253,017$
- - 395 - 365,055
- - - - 3,920,888
- - - - 10,001
- - - - 50,000
39,170 913 395 15,598 4,598,961
1,324,700 64,000 - - 6,604,000
- - - - -
1,324,700 64,000 - - 6,604,000
- - - 201,919 6,577,972
18,019 50,534 - 1,013,942 1,171,091
- - - - 5,338
- - (395) - (116,167)
18,019 50,534 (395) 1,215,861 7,638,234
1,381,889$ 115,447$ -$ 1,231,459$ 18,841,195$
Special Revenue
86
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
Advance
Payments
Sidewalk Street Street Special
Construction Improvement Tree Assessment
ASSETS
Cash and investments 515,892$ 9,259,557$ -$ 136,844$
Receivables
Taxes and special charges 55,000 16,600 - -
Accounts - - 750 -
Loans - - - -
Due from other funds - - - -
Due from other governments - - - -
Deposit with GO HNI - - - -
Total assets 570,892$ 9,276,157$ 750$ 136,844$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable -$ -$ -$ -$
Due to other funds - - 8,127 -
Due to other governments - - - -
Special deposits - 3,500 - 136,844
Unearned revenues - - - -
Total liabilities - 3,500 8,127 136,844
Deferred inflows of resources
Property taxes levied for subsequent year 55,000 16,600 - -
Special charges assessed - - - -
Total deferred inflows of resources 55,000 16,600 - -
Fund balances
Restricted - - - -
Committed - - - -
Assigned 515,892 9,256,057 - -
Unassigned - - (7,377) -
Total fund balances 515,892 9,256,057 (7,377) -
Total liabilities, deferred inflows
of resources, and fund balances 570,892$ 9,276,157$ 750$ 136,844$
Capital Projects
87
Park Mct
Improvement Park Rochlin Golf Course
Contract and Subdivision Park Equipment
Control Equipment Acquisition Improvement Somestack Improvement
7,055,061$ 6,260,377$ 584,026$ 365,390$ 2,000$ 3,275$
- 875,300 - - - -
274,324 15,000 12,950 - - -
- - - - - -
- 97,868 - - - -
250,000 - - - - -
- - - - - -
7,579,385$ 7,248,545$ 596,976$ 365,390$ 2,000$ 3,275$
3,807,355$ 16,585$ 3,126$ -$ -$ -$
- - - - - -
- - - - - -
57,540 - - - - -
- - - - - -
3,864,895 16,585 3,126 - - -
- 875,300 - - - -
510,800 - - - - -
510,800 875,300 - - - -
- - - - - -
- - - - - -
3,203,690 6,356,660 593,850 365,390 2,000 3,275
- - - - - -
3,203,690 6,356,660 593,850 365,390 2,000 3,275
7,579,385$ 7,248,545$ 596,976$ 365,390$ 2,000$ 3,275$
Capital Projects
88
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
Grand City Hall
Senior Opera Complex Parking Ramp
Center House Improvements Improvements
ASSETS
Cash and investments 134,689$ 82,318$ 118,594$ 213,254$
Receivables
Taxes and special charges - 600 - -
Accounts - - - -
Loans - - - -
Due from other funds - - - -
Due from other governments - - - -
Deposit with GO HNI - - - -
Total assets 134,689$ 82,918$ 118,594$ 213,254$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 2,714$ -$ 7,032$ 804$
Due to other funds - - - -
Due to other governments - - - -
Special deposits - - - -
Unearned revenues - - - -
Total liabilities 2,714 - 7,032 804
Deferred inflows of resources
Property taxes levied for subsequent year - 600 - -
Special charges assessed - - - -
Total deferred inflows of resources - 600 - -
Fund balances
Restricted - - - -
Committed - - - -
Assigned 131,975 82,318 111,562 212,450
Unassigned - - - -
Total fund balances 131,975 82,318 111,562 212,450
Total liabilities, deferred inflows
of resources, and fund balances 134,689$ 82,918$ 118,594$ 213,254$
Capital Projects
89
TIF #7 TIF #8 TIF #10 TIF #11 TIF #12 TIF #13
SW Industrial S Aviation Main and Oshkosh Division Marion Road/
Park Industrial Washington Office Center Street Pearl Ave.
-$ 169,522$ 643$ 23,147$ 720,963$ 2,731,780$
3,820,257 - 13,652 12,879 115,998 299,651
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
3,820,257$ 169,522$ 14,295$ 36,026$ 836,961$ 3,031,431$
-$ -$ -$ -$ -$ -$
- - - - - -
- - - - - -
- - - - - 1,000
- - - - - 26,000
- - - - - 27,000
3,820,257 - 13,652 12,879 115,998 299,651
- - - - - -
3,820,257 - 13,652 12,879 115,998 299,651
- 169,522 643 23,147 720,963 2,704,780
- - - - - -
- - - - - -
- - - - - -
- 169,522 643 23,147 720,963 2,704,780
3,820,257$ 169,522$ 14,295$ 36,026$ 836,961$ 3,031,431$
Capital Projects
90
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
TIF #14 TIF #15 TIF #16 TIF #17
Mercy Park 100 Block City
Medical Plaza Redevelopment Centre
ASSETS
Cash and investments 1,047,898$ 2,318,023$ 1,091,112$ -$
Receivables
Taxes and special charges 489,664 202,463 126,575 282,837
Accounts - - - -
Loans - - - -
Due from other funds - - - 1,343,000
Due from other governments - - - -
Deposit with GO HNI - - - -
Total assets 1,537,562$ 2,520,486$ 1,217,687$ 1,625,837$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable 270,573$ -$ -$ -$
Due to other funds - - - 431,363
Due to other governments - - - -
Special deposits - - - -
Unearned revenues - - - -
Total liabilities 270,573 - - 431,363
Deferred inflows of resources
Property taxes levied for subsequent year 489,664 202,463 126,575 282,837
Special charges assessed - - - -
Total deferred inflows of resources 489,664 202,463 126,575 282,837
Fund balances
Restricted 777,325 2,318,023 1,091,112 911,637
Committed - - - -
Assigned - - - -
Unassigned - - - -
Total fund balances 777,325 2,318,023 1,091,112 911,637
Total liabilities, deferred inflows
of resources, and fund balances 1,537,562$ 2,520,486$ 1,217,687$ 1,625,837$
Capital Projects
91
TIF #18 TIF #19 TIF #20 TIF #21 TIF #23 TIF #24
SW Industrial NW Industrial South Side Fox River SW Industrial Oshkosh
#3 Expansion Fox River Corridor Park Corp
-$ 337,702$ 6,555,848$ 117,652$ -$ 24,051$
519,646 222,770 - 526,096 - 188,348
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
519,646$ 560,472$ 6,555,848$ 643,748$ -$ 212,399$
-$ -$ 189,620$ 283,371$ -$ -$
1,896,934 - - - 1,802,861 -
- - - - - -
- - - - - -
- - - - - -
1,896,934 - 189,620 283,371 1,802,861 -
519,646 222,770 - 526,096 - 188,348
- - - - - -
519,646 222,770 - 526,096 - 188,348
- 337,702 6,366,228 - - 24,051
- - - - - -
- - - - - -
(1,896,934) - - (165,719) (1,802,861) -
(1,896,934) 337,702 6,366,228 (165,719) (1,802,861) 24,051
519,646$ 560,472$ 6,555,848$ 643,748$ -$ 212,399$
Capital Projects
92
City of Oshkosh, Wisconsin
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
DECEMBER 31, 2017
TIF #25 TIF #26 TIF #27 TIF #28
City Center Aviation North Main Beach Building
Hotel Business Park Street Redevelopment
ASSETS
Cash and investments -$ -$ -$ -$
Receivables
Taxes and special charges 276,597 - 122,592 39,281
Accounts - - - -
Loans - - - -
Due from other funds - - - -
Due from other governments - - - -
Deposit with GO HNI - - - -
Total assets 276,597$ -$ 122,592$ 39,281$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable -$ -$ -$ -$
Due to other funds 1,759,879 1,839,751 2,347,013 19,765
Due to other governments - - - -
Special deposits - - - -
Unearned revenues - - - -
Total liabilities 1,759,879 1,839,751 2,347,013 19,765
Deferred inflows of resources
Property taxes levied for subsequent year 276,597 - 122,592 39,281
Special charges assessed - - - -
Total deferred inflows of resources 276,597 - 122,592 39,281
Fund balances
Restricted - - - -
Committed - - - -
Assigned - - - -
Unassigned (1,759,879) (1,839,751) (2,347,013) (19,765)
Total fund balances (1,759,879) (1,839,751) (2,347,013) (19,765)
Total liabilities, deferred inflows
of resources, and fund balances 276,597$ -$ 122,592$ 39,281$
Capital Projects
93
Total
Nonmajor
TIF #29 TIF #30 TIF #31 TIF #32 TIF #33 Capital
Morgan Washington Buckstaff Granary Lamico Projects
District Building Redevelopment Redevelopment Redevelopment Funds Total
-$ -$ -$ -$ 3,218$ 39,872,836$ 47,279,369$
2,867 32,594 - - - 8,242,267 14,846,267
- 10,404 - - - 313,428 688,140
- - - - - - 4,075,888
- - - - - 1,440,868 1,619,011
- - - - - 250,000 250,000
- - - - - - 201,919
2,867$ 42,998$ -$ -$ 3,218$ 50,119,399$ 68,960,594$
-$ -$ -$ -$ -$ 4,581,180$ 4,834,197$
11,132 69,032 34,361 494 - 10,220,712 10,585,767
- - - - - - 3,920,888
- - - - - 198,884 208,885
- - - - - 26,000 76,000
11,132 69,032 34,361 494 - 15,026,776 19,625,737
2,867 32,594 - - - 8,242,267 14,846,267
- - - - - 510,800 510,800
2,867 32,594 - - - 8,753,067 15,357,067
- - - - 3,218 15,448,351 22,026,323
- - - - - - 1,171,091
- - - - - 20,835,119 20,840,457
(11,132) (58,628) (34,361) (494) - (9,943,914) (10,060,081)
(11,132) (58,628) (34,361) (494) 3,218 26,339,556 33,977,790
2,867$ 42,998$ -$ -$ 3,218$ 50,119,399$ 68,960,594$
Capital Projects
94
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City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Special Capital
Revenue Projects Permanent Total
REVENUES
Taxes 6,523,900$ 7,674,824$ -$ 14,198,724$
Special assessments 135,910 - - 135,910
Intergovernmental 2,132,564 1,232,330 - 3,364,894
Licenses and permits 329 - - 329
Fines and forfeits 18,046 - - 18,046
Public charges for services 837,701 70,355 - 908,056
Miscellaneous 2,275,166 4,139,869 1,309,067 7,724,102
Total revenues 11,923,616 13,117,378 1,309,067 26,350,061
EXPENDITURES
Current
Public safety 302,421 - - 302,421
Public works 3,186,564 90,986 - 3,277,550
Health and human services 903,085 4,912 - 907,997
Culture and recreation 5,206,763 27,853 150,926 5,385,542
Conservation and development 2,121,827 1,032,102 - 3,153,929
Debt service
Principal - 3,386,161 - 3,386,161
Interest and fiscal charges 260 812,474 - 812,734
Capital outlay 755,518 11,786,300 - 12,541,818
Total expenditures 12,476,438 17,140,788 150,926 29,768,152
Excess of revenues over (under) expenditures (552,822) (4,023,410) 1,158,141 (3,418,091)
OTHER FINANCING SOURCES (USES)
Long-term debt issued - 7,989,800 - 7,989,800
Proceeds from sale of capital assets 107,177 16,350 - 123,527
Transfers in 241,166 11,286,459 - 11,527,625
Transfers out (38,826) (10,987,431) (253,134) (11,279,391)
Total other financing sources (uses)309,517 8,305,178 (253,134) 8,361,561
Net change in fund balances (243,305) 4,281,768 905,007 4,943,470
Fund balances - January 1 7,881,539 22,057,788 9,717,845 39,657,172
Fund balances - December 31 7,638,234$ 26,339,556$ 10,622,852$ 44,600,642$
95
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Committee Business
on Improvement Street
Aging District Recycling Lighting
REVENUES
Taxes 299,400$ -$ -$ 1,010,900$
Special assessments - 135,910 - -
Intergovernmental 73,700 - 236,910 -
Licenses and permits - - - -
Fines and forfeits - - - -
Public charges for services 84 - - -
Miscellaneous 92,315 36,347 907,738 -
Total revenues 465,499 172,257 1,144,648 1,010,900
EXPENDITURES
Current
Public safety - - - -
Public works - - 723,586 1,068,801
Health and human services 499,105 - - -
Culture and recreation - - - -
Conservation and development - 163,541 - -
Debt service
Principal - - - -
Interest and fiscal charges 164 - - -
Capital outlay - - 416,190 -
Total expenditures 499,269 163,541 1,139,776 1,068,801
Excess of revenues over (under) expenditures (33,770) 8,716 4,872 (57,901)
OTHER FINANCING SOURCES (USES)
Long-term debt issued - - - -
Proceeds from sale of capital assets - - - -
Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses)- - - -
Net change in fund balances (33,770) 8,716 4,872 (57,901)
Fund balances - January 1 118,347 57,504 899,246 69,636
Fund balances - December 31 84,577$ 66,220$ 904,118$ 11,735$
Special Revenue
96
Local
Community Rental Revolving
Development Rehabilitation Loan
Library Museum Cemetery Block Grant Loan Program Program
2,624,000$ 892,100$ 290,400$ -$ -$ -$
- - - - - -
600,410 - - 661,164 - -
- - - - - -
- - - - - -
333,153 32,328 - 200 - -
5,907 109,102 118,505 212,970 - -
3,563,470 1,033,530 408,905 874,334 - -
- - - - - -
- - - - - -
- - 372,807 - - -
3,404,864 1,162,683 - - - -
- - - 662,407 - -
- - - - - -
96 - - - - -
- - 31,418 280,111 - -
3,404,960 1,162,683 404,225 942,518 - -
158,510 (129,153) 4,680 (68,184) - -
- - - - - -
- - - 107,177 - -
- 156,431 28,500 - - 47,074
- (38,826) - - - -
- 117,605 28,500 107,177 - 47,074
158,510 (11,548) 33,180 38,993 - 47,074
320,941 760,074 (9,862) 93,924 221,280 2,700,977
479,451$ 748,526$ 23,318$ 132,917$ 221,280$ 2,748,051$
Special Revenue
97
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Senior
Center
Revolving Police Fire/
Loans Bicycle Special Safety
REVENUES
Taxes -$ -$ -$ -$
Special assessments - - - -
Intergovernmental 6,690 - 27,903 69,055
Licenses and permits - 329 - -
Fines and forfeits - - - -
Public charges for services - - - 258
Miscellaneous 45,961 - 79,944 -
Total revenues 52,651 329 107,847 69,313
EXPENDITURES
Current
Public safety - - 141,061 67,726
Public works - - - -
Health and human services 31,173 - - -
Culture and recreation - - - -
Conservation and development - - - -
Debt service
Principal - - - -
Interest and fiscal charges - - - -
Capital outlay - - 14,045 -
Total expenditures 31,173 - 155,106 67,726
Excess of revenues over (under) expenditures 21,478 329 (47,259) 1,587
OTHER FINANCING SOURCES (USES)
Long-term debt issued - - - -
Proceeds from sale of capital assets - - - -
Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses)- - - -
Net change in fund balances 21,478 329 (47,259) 1,587
Fund balances - January 1 38,724 15,585 52,613 344,118
Fund balances - December 31 60,202$ 15,914$ 5,354$ 345,705$
Special Revenue
98
Federal Cable TV EMS
Project Police Asset Police Asset Franchise Fire Historical
D.A.R.E.Forfeiture Forfeiture Escrow Grant Marker
-$ -$ -$ -$ -$ -$
- - - - - -
- - - - 80,644 -
- - - - - -
- 17,231 815 - - -
- - - - - -
- - - 65 11,456 465
- 17,231 815 65 92,100 465
- 1,245 - - 92,389 -
- - - - - -
- - - - - -
- - - - - 621
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- 1,245 - - 92,389 621
- 15,986 815 65 (289) (156)
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- 15,986 815 65 (289) (156)
3 18,840 17,731 6,018 26,165 23,715
3$ 34,826$ 18,546$ 6,083$ 25,876$ 23,559$
Special Revenue
99
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Community Parks Public
Develop Revenue Leach Works
Special Facilities Amphitheater Special
REVENUES
Taxes -$ -$ 14,000$ -$
Special assessments - - - -
Intergovernmental 376,088 - - -
Licenses and permits - - - -
Fines and forfeits - - - -
Public charges for services - 237,240 23,847 -
Miscellaneous 498,230 27,535 20,624 -
Total revenues 874,318 264,775 58,471 -
EXPENDITURES
Current
Public safety - - - -
Public works - - - 62,051
Health and human services - - - -
Culture and recreation - 214,979 69,283 -
Conservation and development 922,894 - - -
Debt service
Principal - - - -
Interest and fiscal charges - - - -
Capital outlay - 8,754 - -
Total expenditures 922,894 223,733 69,283 62,051
Excess of revenues over (under) expenditures (48,576) 41,042 (10,812) (62,051)
OTHER FINANCING SOURCES (USES)
Long-term debt issued - - - -
Proceeds from sale of capital assets - - - -
Transfers in - - 9,161 -
Transfers out - - - -
Total other financing sources (uses)- - 9,161 -
Net change in fund balances (48,576) 41,042 (1,651) (62,051)
Fund balances - January 1 41,215 472,684 (36,638) (8,071)
Fund balances - December 31 (7,361)$ 513,726$ (38,289)$ (70,122)$
Special Revenue
100
Total
Nonmajor
Pollock Community Healthy Special
Garbage Water Traffic Safety Neighborhood Revenue
Disposal Park Grant Initiative Funds
1,329,100$ 64,000$ -$ -$ 6,523,900$
- - - - 135,910
- - - - 2,132,564
- - - - 329
- - - - 18,046
40,795 169,796 - - 837,701
- 98,238 - 9,764 2,275,166
1,369,895 332,034 - 9,764 11,923,616
- - - - 302,421
1,332,126 - - - 3,186,564
- - - - 903,085
- 354,333 - - 5,206,763
- - - 372,985 2,121,827
- - - - -
- - - - 260
- - - 5,000 755,518
1,332,126 354,333 - 377,985 12,476,438
37,769 (22,299) - (368,221) (552,822)
- - - - -
- - - - 107,177
- - - - 241,166
- - - - (38,826)
- - - - 309,517
37,769 (22,299) - (368,221) (243,305)
(19,750) 72,833 (395) 1,584,082 7,881,539
18,019$ 50,534$ (395)$ 1,215,861$ 7,638,234$
Special Revenue
101
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Advance
Payments
Sidewalk Street Street Special
Construction Improvement Tree Assessment
REVENUES
Taxes -$ -$ -$ -$
Special assessments - - - -
Intergovernmental - - - -
Licenses and permits - - - -
Fines and forfeits - - - -
Public charges for services - - - -
Miscellaneous - - 7,550 -
Total revenues - - 7,550 -
EXPENDITURES
Current
Public safety - - - -
Public works - - - -
Health and human services - - - -
Culture and recreation - - 3,550 -
Conservation and development - - - -
Debt service
Principal - - - -
Interest and fiscal charges - - - -
Capital outlay 217,567 2,320,801 - -
Total expenditures 217,567 2,320,801 3,550 -
Excess of revenues over (under) expenditures (217,567) (2,320,801) 4,000 -
OTHER FINANCING SOURCES (USES)
Long-term debt issued 380,500 2,788,000 - -
Proceeds from sale of capital assets - - - -
Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses)380,500 2,788,000 - -
Net change in fund balances 162,933 467,199 4,000 -
Fund balances - January 1 352,959 8,788,858 (11,377) -
Fund balances - December 31 515,892$ 9,256,057$ (7,377)$ -$
Capital Projects
102
Park Mct
Improvement Park Rochlin Golf Course
Contract and Subdivision Park Equipment
Control Equipment Acquisition Improvement Somestack Improvement
-$ 950,000$ 50,000$ -$ -$ -$
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - 6,890 - - -
2,666,192 342,769 19,500 6,800 - -
2,666,192 1,292,769 76,390 6,800 - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- 3,880,566 301,066 - - -
- 3,880,566 301,066 - - -
2,666,192 (2,587,797) (224,676) 6,800 - -
- 4,196,000 625,300 - - -
- - 2,500 - - -
- 381,593 - - - -
- - - - - -
- 4,577,593 627,800 - - -
2,666,192 1,989,796 403,124 6,800 - -
537,498 4,366,864 190,726 358,590 2,000 3,275
3,203,690$ 6,356,660$ 593,850$ 365,390$ 2,000$ 3,275$
Capital Projects
103
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Grand
Senior Opera Facility Parking Ramp
Center House Improvements Improvements
REVENUES
Taxes -$ 22,700$ -$ -$
Special assessments - - - -
Intergovernmental - - - -
Licenses and permits - - - -
Fines and forfeits - - - -
Public charges for services - - - -
Miscellaneous 50 25,071 70,443 98,084
Total revenues 50 47,771 70,443 98,084
EXPENDITURES
Current
Public safety - - - -
Public works - - - 90,986
Health and human services 4,912 - - -
Culture and recreation - 24,303 - -
Conservation and development - - - -
Debt service
Principal - - - -
Interest and fiscal charges - - - 2,314
Capital outlay - - 38,441 -
Total expenditures 4,912 24,303 38,441 93,300
Excess of revenues over (under) expenditures (4,862) 23,468 32,002 4,784
OTHER FINANCING SOURCES (USES)
Long-term debt issued - - - -
Proceeds from sale of capital assets - - - -
Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses)- - - -
Net change in fund balances (4,862) 23,468 32,002 4,784
Fund balances - January 1 136,837 58,850 79,560 207,666
Fund balances - December 31 131,975$ 82,318$ 111,562$ 212,450$
Capital Projects
104
TIF #7 TIF #8 TIF #10 TIF #11 TIF #12 TIF #13
SW Industrial S Aviation Main and Oshkosh Division Marion Road/
Park Industrial Washington Office Center Street Pearl Ave.
3,885,410$ -$ 15,407$ 6,789$ 111,241$ 294,704$
- - - - - -
111,009 - 84 - 383 1,017
- - - - - -
- - - - - -
- - - - - -
- - - - - 16,594
3,996,419 - 15,491 6,789 111,624 312,315
- - - - - -
- - - - - -
- - - - - -
- - - - - -
75,977 - 150 266 61,657 66,689
- 65,000 - - 30,000 995,000
- 9,331 - - 5,048 195,474
5,000 - - - - -
80,977 74,331 150 266 96,705 1,257,163
3,915,442 (74,331) 15,341 6,523 14,919 (944,848)
- - - - - -
- - - - - 13,850
- - - - - 3,636,411
(10,951,940) - (15,491) - (10,000) -
(10,951,940) - (15,491) - (10,000) 3,650,261
(7,036,498) (74,331) (150) 6,523 4,919 2,705,413
7,036,498 243,853 793 16,624 716,044 (633)
-$ 169,522$ 643$ 23,147$ 720,963$ 2,704,780$
Capital Projects
105
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
TIF #14 TIF #15 TIF #16 TIF #17
Mercy Park 100 Block City
Medical Plaza Redevelopment Centre
REVENUES
Taxes 224,534$ 228,253$ 137,538$ 315,252$
Special assessments - - - -
Intergovernmental 108 44,778 542 45,183
Licenses and permits - - - -
Fines and forfeits - - - -
Public charges for services - - - -
Miscellaneous - - - -
Total revenues 224,642 273,031 138,080 360,435
EXPENDITURES
Current
Public safety - - - -
Public works - - - -
Health and human services - - - -
Culture and recreation - - - -
Conservation and development 71,985 59,592 59,696 151
Debt service
Principal 90,000 35,000 200,000 325,000
Interest and fiscal charges 20,873 7,208 35,223 114,715
Capital outlay 660 - - -
Total expenditures 183,518 101,800 294,919 439,866
Excess of revenues over (under) expenditures 41,124 171,231 (156,839) (79,431)
OTHER FINANCING SOURCES (USES)
Long-term debt issued - - - -
Proceeds from sale of capital assets - - - -
Transfers in - - - -
Transfers out - (10,000) - -
Total other financing sources (uses)- (10,000) - -
Net change in fund balances 41,124 161,231 (156,839) (79,431)
Fund balances - January 1 736,201 2,156,792 1,247,951 991,068
Fund balances - December 31 777,325$ 2,318,023$ 1,091,112$ 911,637$
Capital Projects
106
TIF #18 TIF #19 TIF #20 TIF #21 TIF #23 TIF #24
SW Industrial NW Industrial South Side Fox River SW Industrial Oshkosh
#3 Expansion Fox River Corridor Park Corp
479,752$ 239,831$ -$ 298,147$ -$ 425$
- - - - - -
1,441 6,789 980,942 467 - 8,365
- - - - - -
- - - - - -
- - - - - -
- - 32,270 37,497 814,349 -
481,193 246,620 1,013,212 336,111 814,349 8,790
- - - - - -
- - - - - -
- - - - - -
- - - - - -
1,950 44,814 20,582 45,817 150 425
265,000 67,360 340,000 90,000 326,322 -
48,250 15,684 96,048 56,969 95,754 -
374 - 1,171,584 348,643 1,180,956 -
315,574 127,858 1,628,214 541,429 1,603,182 425
165,619 118,762 (615,002) (205,318) (788,833) 8,365
- - - - - -
- - - - - -
- - 7,268,455 - - -
- - - - - -
- - 7,268,455 - - -
165,619 118,762 6,653,453 (205,318) (788,833) 8,365
(2,062,553) 218,940 (287,225) 39,599 (1,014,028) 15,686
(1,896,934)$ 337,702$ 6,366,228$ (165,719)$ (1,802,861)$ 24,051$
Capital Projects
107
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
TIF #25 TIF #26 TIF #27 TIF #28
City Center Aviation North Main Beach Building
Hotel Business Park Street Redevelopment
REVENUES
Taxes 281,248$ -$ 133,593$ -$
Special assessments - - - -
Intergovernmental 3,276 - 27,946 -
Licenses and permits - - - -
Fines and forfeits - - - -
Public charges for services - - - -
Miscellaneous - 2,700 - -
Total revenues 284,524 2,700 161,539 -
EXPENDITURES
Current
Public safety - - - -
Public works - - - -
Health and human services - - - -
Culture and recreation - - - -
Conservation and development 1,488 290,946 100,404 523
Debt service
Principal 216,315 341,164 - -
Interest and fiscal charges 38,238 71,345 - -
Capital outlay - - 2,320,642 -
Total expenditures 256,041 703,455 2,421,046 523
Excess of revenues over (under) expenditures 28,483 (700,755) (2,259,507) (523)
OTHER FINANCING SOURCES (USES)
Long-term debt issued - - - -
Proceeds from sale of capital assets - - - -
Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses)- - - -
Net change in fund balances 28,483 (700,755) (2,259,507) (523)
Fund balances - January 1 (1,788,362) (1,138,996) (87,506) (19,242)
Fund balances - December 31 (1,759,879)$ (1,839,751)$ (2,347,013)$ (19,765)$
Capital Projects
108
Total
Nonmajor
TIF #29 TIF #30 TIF #31 TIF #32 TIF #33 Capital
Morgan Washington Buckstaff Granary Lamico Projects
District Building Redevelopment Redevelopment Redevelopment Funds Total
-$ -$ -$ -$ -$ 7,674,824$ 14,198,724$
- - - - - - 135,910
- - - - - 1,232,330 3,364,894
- - - - - - 329
- - - - - - 18,046
- 10,403 18,000 10,000 25,062 70,355 908,056
- - - - - 4,139,869 6,415,035
- 10,403 18,000 10,000 25,062 13,117,378 25,040,994
- - - - - - 302,421
- - - - - 90,986 3,277,550
- - - - - 4,912 907,997
- - - - - 27,853 5,234,616
150 53,973 42,379 10,494 21,844 1,032,102 3,153,929
- - - - - 3,386,161 3,386,161
- - - - - 812,474 812,734
- - - - - 11,786,300 12,541,818
150 53,973 42,379 10,494 21,844 17,140,788 29,617,226
(150) (43,570) (24,379) (494) 3,218 (4,023,410) (4,576,232)
- - - - - 7,989,800 7,989,800
- - - - - 16,350 123,527
- - - - - 11,286,459 11,527,625
- - - - - (10,987,431)(11,026,257)
- - - - - 8,305,178 8,614,695
(150) (43,570) (24,379) (494) 3,218 4,281,768 4,038,463
(10,982) (15,058) (9,982) - - 22,057,788 29,939,327
(11,132)$ (58,628)$ (34,361)$ (494)$ 3,218$ 26,339,556$33,977,790$
Capital Projects
109
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF NET POSITION
NONMAJOR ENTERPRISE FUNDS
DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION AS OF DECEMBER 31, 2016
Oshkosh
Parking Redevelopment Industrial
Utility Project Park
ASSETS
Current assets
Cash and investments 86,990$ 1,310,543$ -$
Receivables
Customer accounts - 95,488 -
Inventories and prepaid items 23,879 - -
Total current assets 110,869 1,406,031 -
Other assets
Assets held for resale - - 6,653,016
Capital assets
Nondepreciable 1,851,549 3,217,183 -
Depreciable 1,971,297 6,364,983 -
Total capital assets 3,822,846 9,582,166 -
Total assets 3,933,715 10,988,197 6,653,016
DEFERRED OUTFLOWS OF RESOURCES
Pension related amounts 15,597 - -
LIABILITIES
Current liabilities
Accounts payable 2,237 78,378 378
Accrued and other current liabilities 847 - -
Due to other funds 90,325 - 2,774,510
Accrued interest payable 158 26,181 5,582
Special deposits - 5,000 -
Unearned revenue - - -
Current portion of long-term debt - 230,000 380,000
Total current liabilities 93,567 339,559 3,160,470
Long-term obligations, less current portion
General obligation debt 25,000 1,895,000 735,000
Compensated absences 1,164 - -
Net pension liability 2,057 - -
Total long-term liabilities 28,221 1,895,000 735,000
Total liabilities 121,788 2,234,559 3,895,470
DEFERRED INFLOWS OF RESOURCES
Pension related amounts 6,519 - -
NET POSITION
Net investment in capital assets 3,797,846 7,457,166 -
Unrestricted 23,159 1,296,472 2,757,546
Total net position 3,821,005$ 8,753,638$ 2,757,546$
110
Golf Inspection Totals
Course Services 2017 2016
-$ 621,454$ 2,018,987$ 904,615$
- 16,215 111,703 112,812
- - 23,879 25,312
- 637,669 2,154,569 1,042,739
- - 6,653,016 6,653,016
826,541 - 5,895,273 5,895,273
331,411 - 8,667,691 8,241,565
1,157,952 - 14,562,964 14,136,838
1,157,952 637,669 23,370,549 21,832,593
72,358 83,690 171,645 151,152
3,037 4,299 88,329 270,712
- - 847 9,234
819,705 - 3,684,540 3,330,696
- - 31,921 -
2,596 - 7,596 5,000
- 19,342 19,342 22,289
- - 610,000 562,620
825,338 23,641 4,442,575 4,200,551
- - 2,655,000 1,765,000
4,498 39,513 45,175 68,886
9,435 8,745 20,237 21,368
13,933 48,258 2,720,412 1,855,254
839,271 71,899 7,162,987 6,055,805
29,895 27,709 64,123 44,970
1,157,952 - 12,412,964 13,314,218
(796,808) 621,751 3,902,120 2,568,752
361,144$ 621,751$ 16,315,084$ 15,882,970$
111
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
NONMAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
Oshkosh
Parking Redevelopment Industrial
Utility Project Park
OPERATING REVENUES
Charges for services 141,796$ -$ -$
Taxes - 1,716,066 -
Fines, forfeitures and penalties 25,435 - -
Other - 106,902 27,784
Total operating revenues 167,231 1,822,968 27,784
OPERATING EXPENSES
Operation and maintenance 124,750 1,498,823 13,005
Depreciation 157,276 138,523 -
Total operating expenses 282,026 1,637,346 13,005
Operating income (loss)(114,795) 185,622 14,779
NONOPERATING REVENUES (EXPENSES)
Interest income - - -
Gain (loss) on disposal of capital assets - - -
Interest and fiscal charges (2,064) (50,596) (37,746)
Total nonoperating revenues (expenses)(2,064) (50,596) (37,746)
Income (loss) before contributions
and transfers (116,859) 135,026 (22,967)
Capital contributions - - -
Transfers in 35,491 - -
Change in net position (81,368) 135,026 (22,967)
Net position - January 1 3,902,373 8,618,612 2,780,513
Net position - December 31 3,821,005$ 8,753,638$ 2,757,546$
112
Golf Inspection Totals
Course Services 2017 2016
508,633$ 1,318,614$ 1,969,043$ 1,678,878$
- - 1,716,066 1,778,012
- - 25,435 33,633
3,943 2,000 140,629 280,877
512,576 1,320,614 3,851,173 3,771,400
512,338 884,033 3,032,949 2,965,867
35,300 - 331,099 308,384
547,638 884,033 3,364,048 3,274,251
(35,062) 436,581 487,125 497,149
- - - 19
- - - 33,670
(96) - (90,502) (76,092)
(96) - (90,502) (42,403)
(35,158) 436,581 396,623 454,746
- - - 23,181
- - 35,491 14,745
(35,158) 436,581 432,114 492,672
396,302 185,170 15,882,970 15,390,298
361,144$ 621,751$ 16,315,084$ 15,882,970$
113
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF CASH FLOWS
NONMAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2016
Oshkosh
Parking Redevelopment Industrial
Utility Project Park
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from customers 167,255$ 1,818,058$ 27,784$
Cash paid for employee wages and benefits (42,245) - -
Cash paid to suppliers (78,541) (1,668,470) (12,978)
Net cash provided (used) by operating activities 46,469 149,588 14,806
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Due to/from other funds (54,006) - 389,056
Transfer in (out)35,491 - -
Net cash provided (used) by noncapital financing activities (18,515) - 389,056
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of capital assets - (757,225) -
Sale of capital assets - - -
Principal paid on long-term debt - (195,000) (365,000)
Proceeds of long-term debt - 1,500,000 -
Interest paid on long-term debt (2,213) (26,635) (38,862)
Net cash provided (used) by capital
and related financing activities (2,213) 521,140 (403,862)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received - - -
Change in cash and cash equivalents 25,741 670,728 -
Cash and cash equivalents - January 1 61,249 639,815 -
Cash and cash equivalents - December 31 86,990$ 1,310,543$ -$
RECONCILIATION OF OPERATING INCOME
(LOSS) TO NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES
Operating income (loss)(114,795)$ 185,622$ 14,779$
Adjustments to reconcile operating income (loss) to
net cash provided by (used) by operating activities
Depreciation 157,276 138,523 -
Change in liability (asset) and deferred
outflows and inflows of resources
Pension 2,824 - -
Change in operating assets and liabilities
Accounts receivables 24 (4,910) -
Inventories and prepaid items 1,433 - -
Accounts payable (2,286) (169,647) 27
Accrued and other current liabilities 847 - -
Customer deposits - - -
Unearned revenue - - -
Compensated absences 1,146 - -
Net cash provided (used) by operating activities 46,469$ 149,588$ 14,806$
Reconciliation of cash and cash equivalents
to the statement of net position
Cash and cash equivalents in current assets 86,990$ 1,310,543$ -$
Noncash capital and related financing activities
Contributed capital assets -$ -$ -$
114
Golf Inspection Totals
Course Services 2017 2016
516,327$ 1,322,507$ 3,851,931$ 4,023,677$
(329,460) (783,364) (1,155,069) (1,132,203)
(202,936) (121,240) (2,084,165) (1,729,898)
(16,069) 417,903 612,697 1,161,576
18,794 - 353,844 28,274
- - 35,491 14,745
18,794 - 389,335 43,019
- - (757,225) (65,053)
- - - 45,283
(2,620) - (562,620) (563,366)
- - 1,500,000 -
(105) - (67,815) (78,762)
(2,725) - 112,340 (661,898)
- - - 19
- 417,903 1,114,372 542,716
- 203,551 904,615 361,899
-$ 621,454$ 2,018,987$ 904,615$
(35,062)$ 436,581$ 487,125$ 497,149$
35,300 - 331,099 308,384
10,201 (15,496) (2,471) (16,262)
1,155 4,840 1,109 252,277
- - 1,433 1,432
(2,138) (8,339) (182,383) 55,911
- - 847 -
2,596 - 2,596 -
- (2,947) (2,947) 22,289
(28,121) 3,264 (23,711) 40,396
(16,069)$ 417,903$ 612,697$ 1,161,576$
-$ 621,454$ 2,018,987$ 904,615$
-$ -$ -$ 23,181$
115
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
DECEMBER 31, 2017
Hospital Police Fire Workman's
Insurance Pension Pension Compensation Total
ASSETS
Current assets
Cash and investments 1,890,552$ 566,150$ 148,808$ 145,612$ 2,751,122$
Receivables
Taxes and special charges - - - 18,200 18,200
Total assets 1,890,552 566,150 148,808 163,812 2,769,322
LIABILITIES
Current liabilities
Accounts payable - - - 2,538 2,538
DEFERRED INFLOWS OF RESOURCES
Property taxes levied for subsequent year - - - 18,200 18,200
NET POSITION
Unrestricted 1,890,552$ 566,150$ 148,808$ 143,074$ 2,748,584$
116
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Hospital Police Fire Workman's
Insurance Pension Pension Compensation Total
OPERATING REVENUES
Charges for services -$ -$ -$ 66,912$ 66,912$
Other 20,002 - - 364,100 384,102
Total operating revenues 20,002 - - 431,012 451,014
OPERATING EXPENSES
Claims and administration 56,255 21,432 14,443 523,873 616,003
Operating loss (36,253) (21,432) (14,443) (92,861) (164,989)
NONOPERATING REVENUES (EXPENSES)
General property taxes - - - 18,400 18,400
Interest income - 3,900 2,544 - 6,444
Total nonoperating revenues (expenses)- 3,900 2,544 18,400 24,844
Change in net position (36,253) (17,532) (11,899) (74,461) (140,145)
Net position - January 1 1,926,805 583,682 160,707 217,535 2,888,729
Net position - December 31 1,890,552$ 566,150$ 148,808$ 143,074$ 2,748,584$
117
City of Oshkosh, Wisconsin
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2017
Hospital Police Fire Workman's
Insurance Pension Pension Compensation Total
CASH FLOWS FROM OPERATING ACTIVITIES
Cash received from City 20,002$ -$ -$ 447,954$ 467,956$
Cash paid for employee wages and benefits (604) - - (183,648) (184,252)
Cash paid to suppliers (57,324) (21,432) (14,443) (340,112) (433,311)
Net cash used by operating
activities (37,926) (21,432) (14,443) (75,806) (149,607)
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
General property taxes - - - 18,400 18,400
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received - 3,900 2,544 - 6,444
Change in cash and cash equivalents (37,926) (17,532) (11,899) (57,406) (124,763)
Cash and cash equivalents - January 1 1,928,478 583,682 160,707 203,018 2,875,885
Cash and cash equivalents - December 31 1,890,552$ 566,150$ 148,808$ 145,612$ 2,751,122$
RECONCILIATION OF OPERATING LOSS TO
NET CASH USED BY OPERATING ACTIVITIES
Operating loss (36,253)$ (21,432)$ (14,443)$ (92,861)$ (164,989)$
Adjustments to reconcile operating loss
to net cash used by operating activities
Change in operating assets and liabilities
Accounts receivables - - - 16,942 16,942
Accounts payable (1,673) - - 113 (1,560)
Net cash used by operating activities (37,926)$ (21,432)$ (14,443)$ (75,806)$ (149,607)$
Reconciliation of cash and cash equivalents
to the statement of net position
Cash and cash equivalents in
current assets 1,890,552$ 566,150$ 148,808$ 145,612$ 2,751,122$
Noncash capital and related financing activities
None
118
STATISTICAL SECTION
FINANCIAL TRENDS
2017 2016 2015 2014 2013
Governmental Activities
Net Investment in Capital Assets 37,227,904$ 39,752,753$ 36,184,133$ 28,014,455$ 19,329,489$
Restricted 28,379,167 22,305,281 38,369,139 45,613,499 37,140,497
Unrestricted 33,786,672 26,329,710 18,792,902 4,617,998 10,845,337
Total Governmental Activities Net Position 99,393,743$ 88,387,744$ 93,346,174$ 78,245,952$ 67,315,323$
Business-Type Activities
Net Investment in Capital Assets 113,691,844$ 120,012,568$ 123,851,149$ 125,163,119$ 123,557,519$
Restricted 12,250,194 31,949,679 14,773,848 11,074,504 9,929,194
Unrestricted 73,264,160 33,991,810 35,395,885 27,688,003 21,406,542
Total Business-Type Activities Net Position 199,206,198$ 185,954,057$ 174,020,882$ 163,925,626$ 154,893,255$
Primary government
Net Investment in Capital Assets 150,919,748$ 159,765,321$ 160,035,282$ 153,177,574$ 142,887,008$
Restricted 40,629,361 54,254,960 53,142,987 56,688,003 47,069,691
Unrestricted 107,050,832 60,321,520 54,188,787 32,306,001 32,251,879
Total Primary Government Net Position 298,599,941$ 274,341,801$ 267,367,056$ 242,171,578$ 222,208,578$
City of Oshkosh, Wisconsin
Net Position
Last Five Years
(accrual basis of accounting)
119
2017 2016 2015 2014 2013
Program Revenues
Governmental Activities:
Charges for Services:
General Government 1,600,030$ 1,438,721$ 1,558,511$ 1,510,767$ 1,459,590$
Public Safety 3,323,449 3,275,667 3,201,203 3,458,075 3,443,014
Public Works 4,351,816 4,318,592 3,865,108 4,266,651 4,286,794
Health and welfare 128,185 197,444 171,211 152,046 153,459
Parks and recreation 991,340 1,328,326 1,457,930 1,524,330 1,544,164
Transportation 32,311 74,052 38,197 17,020 63,496
Community development 1,948,213 1,160,765 1,795,886 1,579,807 1,254,547
Operating grants and contributions 5,548,647 5,931,258 6,414,312 4,992,789 6,416,634
Capital grants and contributions 6,321,824 2,731,515 3,898,785 4,408,415 8,017,626
Total Governmental Activities Program Revenues 24,245,815 20,456,340 22,401,143 21,909,900 26,639,324
Business-Type Activities:
Charges for Services:
Transit utility 895,265 1,153,149 974,398 1,032,597 1,163,321
Water utility 15,122,194 14,445,314 13,880,943 13,380,404 12,100,460
Sewer utility 13,530,955 12,601,254 11,505,240 11,753,286 10,080,804
Storm Water utility 9,254,565 8,762,387 8,008,241 7,232,454 6,076,752
Other 3,847,579 3,771,400 2,460,714 753,376 2,086,110
Operating grants and contributions 3,189,855 3,001,264 2,988,658 2,980,554 3,969,073
Capital grants and contributions 3,935,617 4,208,145 2,282,249 3,621,003 2,687,333
Total Business-Type Activities Program Revenues 49,776,030 47,942,913 42,100,443 40,753,674 38,163,853
Total Primary Government Program Revenues 74,021,845 68,399,253 64,501,586 62,663,574 64,803,177
Expenses
Governmental Activities:
General Government 7,136,366 7,798,046 6,877,632 6,676,357 5,893,042
Public Safety 29,348,673 27,967,136 27,496,737 25,326,105 25,456,071
Public Works 15,167,905 15,386,290 16,804,792 15,963,233 15,853,312
Health and welfare 1,076,216 930,952 942,326 971,146 942,236
Parks and recreation 8,881,379 8,785,030 8,886,775 8,835,806 8,332,592
Transportation 1,038,006 1,092,783 731,434 670,784 762,341
Community development 6,364,471 14,892,738 8,546,791 6,929,143 10,149,353
Unclassified 1,310,095 662,548 858,234 658,374 793,442
Interest on debt 3,479,436 3,849,290 3,958,629 4,565,377 4,101,721
Total Governmental Activities Expenses 73,802,547 81,364,813 75,103,350 70,596,325 72,284,110
Business-Type Activities:
Transit utility 5,115,027 4,809,392 4,737,860 4,836,746 4,959,664
Water utility 10,466,239 10,892,066 10,564,852 10,616,162 9,836,700
Sewer utility 11,528,889 10,825,702 10,526,101 10,018,765 9,276,937
Storm Water utility 6,375,794 6,312,063 5,808,799 5,410,733 4,807,660
Other 3,454,550 3,350,343 2,331,609 2,152,755 2,073,923
Total Business-Type Activities Expenses 36,940,499 36,189,566 33,969,221 33,035,161 30,954,884
Total Primary Government Expenses 110,743,046 117,554,379 109,072,571 103,631,486 103,238,994
City of Oshkosh, Wisconsin
Changes in Net Position
Last Five Years
(accrual basis of accounting)
120
2017 2016 2015 2014 2013
Net (Expense)/Revenue
Governmental Activities (49,556,732)$ (60,908,473)$ (52,702,207)$ (48,686,425)$ (45,644,786)$
Business-Type Activities 12,835,531 11,753,347 8,131,222 7,718,513 7,208,969
Total Primary Government Net Expense
General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property and Other Local Taxes Levied For:
General Purposes 25,568,490 16,540,825 7,674,823 7,601,256 7,437,835
Other Purposes 6,652,124 13,439,350 14,856,920 14,629,667 13,887,960
Debt Service 10,323,676 9,851,809 18,037,275 17,637,047 17,015,651
13,868,473 13,286,136 12,165,208 12,239,874 12,646,485
Investment Earnings 1,898,404 1,351,658 185,641 2,530,813 1,007,079
Gain (Loss) on Sale of Capital Assets 150,275 18,075 25,683 4,629 32,594
Miscellaneous 1,136,780 476,935 317,288 3,986,577 547,200
Transfers 964,509 985,255 988,173 987,191 896,753
Total Governmental Activities 60,562,731 55,950,043 54,251,011 59,617,054 53,471,557
Business-Type Activities:
General Purposes property taxes levied for 887,524 843,391 748,125 2,203,488 795,749
Investment Earnings 493,595 288,022 (13,041) 97,561 93,869
Gain (Loss) on Sale of Capital Assets - 33,670 - - 48,264
Transfers (964,509) (985,255) (988,173) (987,191) (896,753)
Total Business-Type Activities 416,610 179,828 (253,089) 1,313,858 41,129
Total Primary Government 60,979,341 56,129,871 53,997,922 60,930,912 53,512,686
Change in Net Position
Governmental Activities 11,005,999 (4,958,430) 1,548,804 10,930,629 7,826,771
Business-Type Activities 13,252,141 11,933,175 7,878,133 9,032,371 7,250,098
Total Primary Government Change in Net Position
Changes in Net Position (continued)
Last Five Years
(accrual basis of accounting)
State and Federal Aids Not Restricted to Specific Functions
City of Oshkosh, Wisconsin
121
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
FUND BALANCES
RESERVED -$ -$ -$ -$ -$ -$ -$ -$ 10,036,001$ 6,819,195$
UNRESERVED - - - - - - - - 8,831,818 10,620,890
NONSPENDABLE
Inventories and prepaid items 59,300 46,778 17,259 33,723 13,477 63,560 20,117 15,128 - -
Receivables from other funds - 8,022,157 13,302,738 480,191 6,082,872 9,023,957 7,822,388 - - -
RESTRICTED
Construction of assets 15,448,351 4,891,747 7,255,154 28,384,271 19,114,218 15,864,698 12,466,838 6,161,672 - -
Debt service 923,371 2,251,808 2,361,472 3,437,177 6,628,347 3,843,324 3,827,124 802,645 - -
Special purposes 6,577,972 6,169,377 5,676,076 3,763,430 3,121,059 2,954,583 3,619,623 2,225,449 - -
Trust agreements 10,622,852 9,717,845 9,437,194 10,028,621 8,276,873 7,702,043 7,615,773 3,591,586 - -
COMMITTED
Special purposes 1,171,091 1,786,878 1,948,928 870,296 327,044 199,313 453,083 1,440,897 - -
ASSIGNED
Construction of assets 20,927,327 15,083,683 13,759,242 8,436,116 10,610,710 9,450,113 6,368,873 4,378,911 - -
Subsequent years - 1,835 - 44,977 91,977 502,664 687,688 766,216 - -
UNASSIGNED
General fund 10,230,445 8,427,707 8,540,127 8,718,502 8,262,154 8,820,427 8,520,110 8,090,093 - -
Special revenue funds (3,636,920)(74,716) (4,637,412) (3,986,743) (2,058,210) (632,057) (51,337) (32,444) - -
Capital project funds (10,060,081)(12,319,773) (4,706,405) (4,331,169) (5,018,748) (7,783,852) (6,976,868) (1,896,158) - -
Total Fund Balances 52,263,708$ 44,005,326$ 52,954,373$ 55,879,392$ 55,451,773$ 50,008,773$ 44,373,412$ 25,543,995$ 18,867,819$ 17,440,085$
The City implemented GASB Statement No. 54 during 2010 and has not restated their prior year balances.
City of Oshkosh, Wisconsin
Fund Balances, Governmental Funds
Last Ten Years
December 31, 2017
122
2017 2016 2015 2014 2013
Revenues
Taxes 42,339,970$ 39,678,624$ 40,394,058$ 39,703,948$ 38,186,988$
Special assessments 2,819,275 1,745,129 4,090,632 3,278,508 3,957,420
Intergovernmental 19,375,160 19,018,924 18,478,299 16,856,805 18,179,507
Licenses and permits 974,230 854,691 1,817,320 1,630,361 1,690,229
Fines and forfeits 799,480 697,837 732,845 718,839 814,534
Public charges for services 3,809,875 4,194,606 4,879,735 5,072,026 5,723,603
Intergovernmental charges for services 4,463,334 4,432,013 3,427,847 3,371,926 3,313,954
Miscellaneous 8,555,585 3,895,923 2,449,829 8,776,973 3,297,214
Total Revenues 83,136,909 74,517,747 76,270,565 79,409,386 75,163,449
Expenditures
Current
General government 6,384,666 6,360,784 6,104,307 6,004,044 5,718,541
Public safety 26,171,424 25,930,335 25,556,548 24,604,669 24,180,522
Public works 9,186,637 8,893,465 9,068,401 9,653,984 9,249,548
Health and welfare 5,385,542 897,614 462,691 502,391 423,057
Parks and recreation 5,212,069 7,287,928 7,937,333 7,943,881 7,634,760
Transportation 1,631,738 677,920 692,914 678,097 677,682
Community development 1,317,316 7,187,823 8,011,745 6,316,899 6,305,710
Unclassified 1,251,952 636,998 836,971 613,892 773,537
Debt service
Principal 11,497,406 33,126,100 10,952,762 17,867,974 9,048,197
Interest and fiscal charges 3,675,373 4,236,487 3,739,870 3,601,824 3,322,065
Capital outlay 15,898,274 19,953,642 19,360,391 19,245,514 19,428,396
Total Expenditures 87,612,397 115,189,096 92,723,933 97,033,169 86,762,015
Excess of Revenues Over (Under)
Expenditures (4,475,488) (40,671,349) (16,453,368) (17,623,783) (11,598,566)
Other Financing Sources (Uses)
Long-term debt issued 10,965,000 29,715,239 19,390,000 25,208,622 16,054,100
Premium on debt issued 680,834 1,021,808 483,527 733,994
Payment to refunding escrow agent 123,527 - (7,333,351) (8,878,405) -
Transfers in 12,527,625 12,858,979 16,994,014 17,915,661 11,658,764
Transfers out (11,563,116) (11,873,724) (16,005,841) (16,928,470) (10,671,298)
Total Other Financing Sources (Uses)12,733,870 31,722,302 13,528,349 18,051,402 17,041,566
Net Change in Fund Balance 8,258,382 (8,949,047) (2,925,019) 427,619 5,443,000
Fund Balances - January 1, as Restated 44,005,326 52,954,373 55,879,392 55,451,773 50,008,773
Fund Balances - December 31 52,263,708$ 44,005,326$ 52,954,373$ 55,879,392$ 55,451,773$
City of Oshkosh, Wisconsin
Changes in Fund Balances, Governmental Funds
Last Five Fiscal Years
123
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REVENUE CAPACITY
Fiscal
Year Assessed Value
Estimated Actual
Value Assessed
Estimated Actual
Value
Total Assessed
Value
Total
Direct Tax
Rate
Estimated Actual
Value
Ratio of Total
Assessed to
Total Estimated
Actual Value
2017 3,723,721,100$ 3,793,325,937$ 134,564,600$ 137,079,919$ 3,858,285,700$ 10.5580 3,930,405,857$ 98.13
2016 3,641,697,700 3,650,387,038 130,942,200 131,254,637 3,772,639,900 10.3440 3,781,641,675 99.76
2015 3,606,419,800 3,606,061,488 142,327,700 142,313,559 3,748,747,500 9.7870 3,748,375,047 100.00
2014 3,618,101,100 3,592,566,171 157,144,000 156,034,948 3,775,245,100 9.5620 3,748,601,119 100.71
2013 3,602,577,600 3,602,577,600 158,294,700 158,294,700 3,760,872,300 9.2810 3,760,872,300 100.00
2012 3,591,967,000 3,621,421,129 146,992,600 148,197,939 3,738,959,600 8.9370 3,769,619,068 99.18
2011 3,581,676,200 3,623,939,979 147,234,400 148,971,766 3,728,910,600 8.7960 3,772,911,745 98.82
2010 3,558,554,500 3,625,811,180 149,579,500 152,406,553 3,708,134,000 8.6080 3,778,217,733 98.11
2009 3,559,320,400 3,647,235,614 152,720,300 156,492,491 3,712,040,700 8.3990 3,803,728,105 97.53
2008 3,517,580,250 3,693,811,021 141,325,000 148,405,382 3,658,905,250 8.2300 3,842,216,403 94.99
City of Oshkosh, Wisconsin
Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
December 31, 2017
Real Property Personal Property
124
Fiscal
Year Operations Debt Total Total
2017 7.444$ 3.114$ 10.558$ 39.4%9.774$ 36.5%1.105$ 4.1%5.369$ 20.0%-$ 0.0%26.806$
2016 7.360 2.984 10.344 38.1%10.131 37.3%1.116 4.1%5.415 19.9%0.170 0.6%27.176
2015 6.949 2.838 9.787 37.5%9.579 36.7%1.116 4.3%5.429 20.8%0.169 0.6%26.080
2014 4.361 5.201 9.562 36.6%9.737 37.3%1.116 4.3%5.548 21.2%0.169 0.6%26.132
2013 4.151 5.130 9.281 35.5%9.154 35.0%1.973 7.5%5.567 21.3%0.170 0.7%26.145
2012 3.980 4.957 8.937 34.5%8.892 34.4%1.982 7.7%5.890 22.8%0.171 0.7%25.872
2011 3.902 4.894 8.796 35.0%8.640 34.3%1.813 7.2%5.736 22.8%0.172 0.7%25.157
2010 3.824 4.784 8.608 34.2%8.792 34.9%1.814 7.2%5.804 23.0%0.173 0.7%25.191
2009 3.501 4.898 8.399 34.8%8.099 33.6%1.757 7.3%5.688 23.6%0.174 0.7%24.117
2008 3.344 4.882 8.226 34.7%7.771 32.8%1.770 7.5%5.727 24.2%0.179 0.8%23.673
Fiscal
Year Operations Debt Total Total
2017 26,695,100$ 11,166,600$ 37,861,700$ 96,128,841$
2016 25,826,000 10,471,700 36,297,700 95,407,876
2015 24,343,600 9,943,100 34,286,700 91,406,804
2014 15,204,000 18,130,300 33,334,300 91,144,879
2013 14,326,700 17,704,300 32,031,000 90,287,704
2012 13,629,708 16,975,200 30,604,908 88,650,296
2011 13,360,100 16,758,200 30,118,300 86,195,509
2010 13,100,765 16,387,400 29,488,165 86,341,268
2009 11,997,700 16,789,100 28,786,800 82,708,602
2008 11,336,182 16,549,086 27,885,268 80,292,534
City of Oshkosh
City of Oshkosh, Wisconsin
Property Tax Rates - Direct and Overlapping Governments
Last Ten Fiscal Years
December 31, 2017
City of Oshkosh
Tax Levies
State of Wisconsin
31,595,334
30,451,103
Schools College Winnebago State of Wisconsin
33,943,225 3,890,900 19,340,255 636,199
635,319
35,551,348 3,915,834 19,002,146 640,848
Oshkosh Area Public
Schools
Fox Valley Technical
College
County of
Winnebago
20,169,459
19,642,097
19,882,754
19,496,778
19,413,865
33,555,438 3,910,234 19,019,113
29,585,411
30,116,037
6,808,053
6,786,290
27,758,578
637,971
638,536
640,825
641,392
645,192
653,212
35,051,183$ 3,962,683$ 19,253,275$ -$
26,340,816
6,208,876
6,212,920
6,021,254
5,999,373
19,215,346
125
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Dumke & Associates 70,138,300$ 1.87%
Midwest Realty 61,131,900 1.63
Tom Rusch Etal 45,165,600 1.20
Dennis Schwab 34,285,900 0.91
Curwood Bemis 33,744,900 0.90
Charles Perry 33,433,500 0.89
BFO Factory Shoppes 32,575,600 0.87
Bergstrom 32,176,400 0.86
Oshkosh Corp 31,594,800 0.84
Aurora Medical 28,929,200 0.77
403,176,100$ 10.75%
Total Assessed Valuation 3,748,747,500$
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Midwest Realty 70,375,800$ 2.04%
Curwood Inc. (Bemis) 35,485,300 1.03
Thomas N. Rusch, etal.47,855,300 1.39
Oshkosh Truck 26,647,100 0.77
First Horizon 29,403,900 0.85
Dumke & Associates 28,363,400 0.82
Westowne Shoppes, etal 22,827,400 0.66
Dennis Schwab 20,665,900 0.60
Peter Jungbacker etal 20,017,200 0.58
Pine Investments 19,720,600 0.57
321,361,900$ 9.340%
Total Assessed Valuation 3,441,866,200$
(1) Assessed valuation based on the valuation of property for taxes collected in 2017 and 2007
respectively, and a review of the largest taxpayers for the City.
Source: City of Oshkosh Assessor's Office
City of Oshkosh, Wisconsin
December 31, 2017
December 31, 2007
126
County Percent of Total
Percent of Settlement Tax Collections
Total City City Tax for Delinquent Total Prior to
Fiscal Tax Tax Tax Collections Tax Tax Collections /
Year Year (1)
2017 2016 107,415,653$ 105,608,948$ 98.32%1,772,098$ 107,381,046$ 99.97%
2016 2015 102,914,568 100,963,917 98.10%1,872,639 102,836,556 99.92%
2015 2014 103,057,581 101,075,776 98.08%1,916,907 102,992,683 99.94%
2014 2013 103,008,897 100,896,914 97.95%2,074,659 102,971,573 99.96%
2013 2012 101,153,633 98,273,836 97.15%2,836,923 101,110,759 99.96%
2012 2011 96,961,355 93,389,879 96.32%3,504,895 96,894,774 99.93%
2011 2010 97,053,509 92,726,230 95.54%4,277,936 97,004,166 99.95%
2010 2009 93,178,460 90,156,910 96.76%2,973,400 93,130,310 99.95%
2009 2008 89,123,760 86,319,259 96.85%2,756,957 89,076,216 99.95%
2008 2007 86,119,686 83,580,798 97.05%2,491,982 86,072,780 99.95%
Sources: Winnebago County Treasurer and City of Oshkosh Department of Finance.
Note: Real estate taxes may be paid in a single payment due January 31, or in four installments, January 31, March 31, May
31, and July 31. The City collects taxes on behalf of the overlapping governments. The City remits taxes to the other
governments on five settlement dates - January 15, February 15, April 15, June 15, and August 15. The City then transfers
20. The City retains the responsibility of collecting delinquent personal property taxes.
City of Oshkosh, Wisconsin
Property Tax Levies And Collections
2007 - 2017
(1) - Total Tax Levy represents the real estate tax levies for the City, overlapping districts, and personal property taxes.
127
DEBT CAPACITY
Fiscal General Compensated OPEB
Unfunded
Pension General Compensated Total Primary
Percentage
of Personal
2017 115,311,124$ 4,305,769$ 5,605,749$ -$ 24,042,224$ 182,802,130$ 761,542$ 16.05%
2016 115,349,675 4,352,539 5,375,052 - 25,586,223 167,032,169 808,318 21.50%
117,857,462 4,673,902 5,147,509 - 28,709,574 147,300,274 628,849 20.51%
2014 (1)115,817,334 3,524,291 4,868,160 - 32,145,618 128,416,837 698,782 285,471,022 19.46%
2013 107,861,558 3,370,758 4,519,616 10,513,576 33,533,369 116,597,811 713,031 18.98%
2012 100,855,655 3,142,412 3,724,502 10,255,576 37,003,597 100,403,094 626,990 16.27%
2011 93,389,085 3,066,770 3,045,113 10,049,166 40,242,776 88,033,677 593,879 15.38%
2010 (2)88,458,044 2,935,344 2,291,041 9,791,574 43,494,833 77,877,052 755,459 225,603,347 13.44%
2009 54,594,494 2,888,438 1,492,192 9,520,865 75,062,759 51,273,148 744,469 10.89%
2008 53,244,856 2,889,010 761,466 9,274,093 66,439,949 50,088,740 738,139 7.03%
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
(2) On January 1, 2011, the City reclassified its TIF District funds from enterprise funds to capital project funds. As a result, general obligation debt associated with the TIF Districts
was reclassified from business-type activity to governmental activity debt. The amount reclassified was $27,527,728.
City of Oshkosh, Wisconsin
Outstanding Debt by Type
Last Ten Fiscal Years
December 31, 2017
Governmental Activities Business-Type Activities
(1) On August 22, 2014, the City paid off its Unfunded Pension Liability (WRS) with a State Trust Fund Loan. This loan is payable through 2034 with an interest rate of 4.25%. As a
result, general obligation debt increased $10,233,802 which was split between governmental and business-type activities.
128
Fiscal Year Population Equalized Value Debt Total Assessed Value Per Capita
2017 66,636 3,858,285,700$ 136,799,914$ 3.55%2,052.94$
2016 66,717 3,772,639,900 138,876,319 3.68%2,081.57
2015 66,327 3,743,645,000 145,410,531 3.88%2,192.33
2014 66,778 3,748,827,600 147,228,958 3.93%2,204.75
2013 66,653 3,759,269,500 141,394,927 3.76%2,121.36
2012 66,325 3,762,601,100 137,859,256 3.66%2,078.54
2011 66,083 3,776,085,900 133,631,865 3.54%2,022.18
2010 66,080 3,779,437,800 131,952,877 3.49%1,996.87
2009 64,350 3,801,817,900 129,657,250 3.41%2,014.88
2008 65,920 3,849,076,000 119,684,801 3.11%1,815.61
Long-Term Debt
City of Oshkosh, Wisconsin
Ratios of Net General Bonded Debt Outstanding
Last Ten Fiscal Years
December 31, 2017
Net General
129
Percent Amount
Direct Debt:
City purpose 136,799,914$
Less Sanitary Sewer purpose (7,754,347)
Less Storm Water purpose (6,198,853)
Less Water Utility purpose (5,519,764)
Less TIF purpose (23,154,663)
Net City Purpose 94,172,287$ 100.0000%94,172,287$
Total Net Direct Debt 94,172,287
Overlapping Debt
Oshkosh Area Public School District 58,900,607 72.3000%42,585,139
Fox Valley Technical College 83,270,000 10.0270%8,349,483
Winnebago County 31,837,310 30.4554%9,696,180
Total Overlapping Debt 60,630,802
154,803,089$
Information of other taxing districts was obtained from their respective financial reports and/or
departments.
City of Oshkosh, Wisconsin
Direct and Overlapping Governmental Activities Debt
December 31, 2017
TOTAL DEBT
Applicable to City
Debt shown includes general obligation bonds and notes. Excluded from above are revenue
bonds of $182,802,130
130
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Equalized Value 3,931,778,200$ 3,776,225,300$ 3,743,645,000$ 3,748,827,600$ 3,759,269,500$ 3,762,601,100$ 3,776,085,900$ 3,779,437,800$ 3,801,817,900$ 3,565,689,900$
Debt limitation - 5% of equalized value 196,588,910 188,811,265 187,182,250 187,441,380 187,963,475 188,130,055 188,804,295 188,971,890 190,090,895 178,284,495
Debt applicable to limitation
Less: Debt service fund (923,371) (760,004) (976,051) (1,536,834) (1,766,431) (1,598,474) (878,039) (802,645) (1,146,983) (1,814,545)
Less: Other funds available for debt retirement
Total debt applicable to limitation 135,876,543 138,116,315 144,434,480 145,692,124 137,996,642 136,260,778 132,753,822 131,150,232 128,510,270 117,870,260
Total net debt applicable to the limit
as a percentage of debt limit 69.12%73.15%77.16%77.73%73.42%72.43%70.31%69.40%67.60%66.11%
City of Oshkosh, Wisconsin
Legal Debt Margin Information
Last Ten Fiscal Years
December 31, 2017
131
Fiscal
Year
Utility Service
Charges (1)
Less: Operating
Expenses (2)
Net Revenue
Available for
Debt Service Principal Interest
Revenue
Coverage
2017 15,067,303$ 5,255,171$ 9,812,132$ 5,003,204$ 1,539,625$ 1.500
2016 14,389,159 5,540,506 8,848,653 4,704,579 1,686,652 1.384
2015 13,744,880 5,559,101 8,185,779 3,807,638 1,441,970 1.559
2014 13,204,960 5,833,904 7,371,056 3,872,222 1,414,596 1.394
2013 11,894,051 5,181,499 6,712,552 3,168,287 1,373,264 1.478
2012 12,476,050 5,190,896 7,285,154 2,940,800 1,292,001 1.721
2011 11,766,312 4,950,108 6,816,204 1,859,362 901,696 2.469
2010 11,440,790 6,365,712 5,075,078 2,864,882 1,136,715 1.268
2009 11,661,637 5,585,656 6,075,981 2,199,618 1,047,917 1.871
2008 12,055,844 5,727,208 6,328,636 2,054,504 1,155,278 1.972
(1)
(2)
Includes total operating revenues and investment income.
Includes total operating expenses less: depreciation, taxes, bond issue expense and interest expense.
Debt Service
City of Oshkosh, Wisconsin
December 31, 2017
Last Ten Fiscal Years
Pledged-Revenue Coverage
Water Revenue Bonds
132
Fiscal
Year
Utility Service
Charges (1)
Less:
Operating
Expenses (2)
Net Revenue
Available for
Debt Service Principal Interest
Revenue
Coverage
2017 13,701,370$ 5,860,337$ 7,841,033$ 2,793,423$ 1,476,428$ 1.836
2016 12,692,924 5,815,792 6,877,132 2,278,072 1,244,346 1.952
2015 11,432,847 5,814,421 5,618,426 1,797,902 962,202 2.036
2014 11,667,626 5,742,234 5,925,392 2,811,576 774,747 1.652
2013 10,115,243 5,170,187 4,945,056 2,556,996 707,686 1.515
2012 10,633,650 5,227,829 5,405,821 2,433,416 595,965 1.784
2011 9,742,345 5,241,990 4,500,355 1,889,013 441,518 1.931
2010 9,062,774 5,190,326 3,872,448 1,671,295 327,294 1.938
2009 9,094,064 5,218,908 3,875,156 1,620,209 360,497 1.956
2008 9,737,588 5,192,412 4,545,176 1,570,706 410,791 2.294
(1)
(2)
Includes total operating revenues and investment income.
Includes total operating expenses less: depreciation, taxes, bond issue expense and interest expense.
Debt Service
City of Oshkosh, Wisconsin
December 31, 2017
Last Ten Fiscal Years
Pledged-Revenue Coverage
Sewer Revenue Bonds
133
Fiscal
Year
Utility Service
Charges (1)
Less:
Operating
Expenses (2)
Net Revenue
Available for
Debt Service Principal Interest
Revenue
Coverage
2017 9,366,215$ 2,051,219$ 7,314,996$ 2,770,000$ 1,953,735$ 1.549
2016 8,834,283 2,117,352 6,716,931 2,530,000 2,202,164 1.419
2015 7,992,624 1,941,371 6,051,253 2,120,000 1,854,819 1.522
2014 7,263,498 2,049,110 5,214,388 1,670,000 1,790,866 1.507
2013 6,088,592 1,619,298 4,469,294 1,260,000 1,110,605 1.885
2012 4,650,424 1,821,770 2,828,654 985,000 934,695 1.473
2011 4,218,749 2,096,833 2,121,916 895,000 1,005,365 1.117
2010 3,805,709 1,743,456 2,062,253 190,000 170,061 5.728
2009 4,044,613 1,596,444 2,448,169 185,000 176,624 6.770
2008 3,058,699 1,198,080 1,860,619 180,000 183,012 5.126
(1)
(2)
Includes total operating revenues and investment income.
Includes total operating expenses less: depreciation, taxes, bond issue expense and interest expense.
Debt Service
City of Oshkosh, Wisconsin
December 31, 2017
Last Ten Fiscal Years
Pledged-Revenue Coverage
Storm Water Revenue Bonds
134
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DEMOGRAPHIC AND ECONOMIC INFORMATION
Total
Personal Per Capita Median School Unemployment
Year Population (1) Income (2) Income (3)Age (3)Enrollment (4)Rate (5)
2017 66,636 2,073,912,228 $31,123 33.6 11,131 3.1%
Source:
(1) U.S. Census Bureau - WI Dept of Administration
(2) Computation of per capita personal income multiplied by population
(3) Oshkosh Chamber of Commerce Esri Forecasts 2012 and U.S. Census Bureau
(4) WI Department of Public Instruction http://dpi.wi.gov/lbstat/pubdata2.html
(5) Wisconsin Department of Workforce Development Website: worknet.wisconsin.gov
December 31, 2017
Demographic and Economic Statistics
Last Ten Years
135
OPERATING INFORMATION
2007
Percentage of Oshkosh
Total City Financial
Employees Employment Report
Manufacturing
Oshkosh Corporation 5,000 14.01%2,712
Bemis (all Oshkosh locations)2,600 7.28%1,880
Silver Star Brands Inc. / Miles Kimball Co.550 1.54%1,500
Hoffmaster, A Solo Cup Company,428 1.20%617
(Scott Worldwide Food Service)
Muza Metal Products 265 0.74%150
200
Non-Manufacturing
U S Bank (Firstar)750 2.10%750
4imprint (Nelson Marketing)914 2.56%338
Wal-Mart 318 0.89%431
Clarity Care (Residential Care RCDD)549 1.54%500
United Parcel Service 200 0.56%-
Government
University of WI - Oshkosh 1,486 4.16%1,632
Oshkosh Area School District 1,418 3.97%1,580
Winnebago County 1,188 3.33%1,047
Winnebago Mental Health Institute 694 1.94%750
City of Oshkosh-, Full-Time 537 1.50%650
Oshkosh Correctional Institution 440 1.23%524
CESA6 143 0.40%289
Oshkosh's Labor Force Estimates **35,696
**Source: WORKnet - Data Analyst - Labor Force - Period 12, 2017
Source: Oshkosh Chamber of Commerce and/or employers*
*Employee counts listed are the number of full-time equivalent employees reported by each
organization for the Oshkosh area.
Principal Employers*
Current Year and Ten Years Ago
2017
December 31, 2017
136
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
General Fund
General Government
Manager 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Attorney 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Human Resources 5.00 5.00 6.00 6.00 6.00 6.00 5.00 5.00 5.00 5.00
Clerk 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Finance 14.80 14.80 12.80 12.00 12.00 12.00 12.00 14.00 14.00 14.00
Purchasing 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 2.00
Central Services - - - - - - 1.00 1.00 1.00 1.00
I T / Central Services 7.40 7.40 7.40 7.40 7.40 7.40 7.00 7.00 7.00 7.00
Facilities Maint.5.80 5.80 5.80 5.00 5.00 5.00 5.00 4.00 4.00 4.00
Media Services 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Public Safety
Safety - - 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Police 127.49 127.49 115.00 115.00 114.00 116.00 116.00 116.00 116.00 116.00
Fire 108.00 108.00 108.00 107.00 107.00 108.00 108.00 108.00 108.00 108.00
Public Works
Public Works Admin.3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Engineers 11.70 11.70 11.70 11.00 12.00 12.00 12.00 11.00 11.00 11.00
Streets 29.00 29.00 29.00 29.00 29.00 29.00 31.00 31.00 31.00 30.00
Central Garage 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00
Garbage - - - 8.00 8.00 9.25 10.00 11.00 11.00 11.00
Parks
Parks 14.89 14.89 14.89 14.89 15.64 15.64 15.64 15.50 15.50 15.50
Forestry 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00
Community Development
Assessor 5.80 5.80 5.80 5.00 5.00 6.00 6.00 6.00 6.00 6.00
Economic Development 5.00 5.00 4.80 4.80 3.00 - - - - -
Planning 9.00 9.00 8.50 8.50 7.50 9.90 9.90 9.50 9.50 9.50
Inspection Services 7.50 7.50 7.50 7.50 7.50 10.50 10.50 10.50 10.50 10.50
Weights and Measures 1.50 1.50 - - - - - - - -
Healthy Neighborhood Initiative 0.88 0.88 - - - - - - - -
Transportation
Electric 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00
Sign 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Administrative Services
Safety & Worker Compensation 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Special Revenue Funds
Parks
Cemetery 3.64 3.64 3.00 3.00 3.00 3.00 3.70 4.00 4.00 4.00
Senior Services 7.18 7.18 5.00 5.00 5.00 5.00 5.00 5.00 5.00 6.00
Parks Revenue Facilities 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.50 0.50 0.50
Public Works
Garbage 7.50 7.50 8.00
Recycling 4.50 4.50 5.00 5.00 5.00 5.00 5.00 5.00 6.00 7.00
Other
Health Services - - - - - - 6.00 6.00 6.00 6.00
Health Srvcs/Nurses - - - - - - 3.00 3.00 3.00 3.00
Library 37.68 37.68 38.58 40.25 40.25 40.25 32.05 32.50 31.60 31.60
Museum 11.43 11.43 10.00 10.00 10.00 10.00 10.00 10.00 10.00 9.00
Enterprise Funds
Convention Center 1.00 1.00 - - - - - - - -
Golf Course 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Transit Utility 32.00 32.00 29.00 28.00 28.00 28.00 28.00 28.00 28.00 28.00
Parking Utility 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 2.00
Water Utility 35.02 35.02 34.93 34.93 35.05 35.05 32.85 32.85 31.33 31.33
Sewer Utility 33.02 - 32.68 32.68 33.70 33.70 32.67 32.67 32.33 32.33
Storm Utility 10.85 10.85 10.50 10.50 10.50 10.50 8.00 8.00 7.33 7.00
Total Full-time Equivalent 577.94 544.92 555.24 551.81 550.90 558.55 556.67 558.02 555.59 555.26
Source: City of Oshkosh Finance Department - Annual Budget
City of Oshkosh, Wisconsin
Full-time Equivalent City Government Employees by Function/Program
Last Ten Fiscal Years
December 31, 2017
137
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Police
Stations 1 1 1 1 1 1 1 1 1 1
Community Policing Offices 1 mobile 1 mobile I mobile I mobile 0 0 0 0 0 0
Patrol Units 29 29 28 28 28 28 28 29 30 32
Fire
Stations 6 6 6 6 6 6 6 6 6 6
Refuse Collection
Collection trucks 13 13 13 13 13 13 13 13 13 13
Other Public Works
Streets (miles)260.87 260.05 259.35 258.45 263.05 261.72 261.08 262.22 261.38 261.32
Street Lights 1,405 1,390 1,350 1,350 1,310 *****
City traffic signals (intersections)68 68 67 62 ******
Parks and Recreation
Acreage 448 445 440 440 440 440 440 440 440 440
Playgrounds 19 19 19 17 17 17 17 17 17 18
Baseball/softball diamonds 19 19 19 18 18 18 18 18 18 19
Water
Watermains (miles)297.41 313.00 296.09 295.66 294.09 294.73 294.49 294.02 292.61 291.94
Average Daily Pumpage,5.95 5.790 6.170 6.849 6.160 6.422 6.508 6.388 6.315 6.534
(Million Gallons per day)
Wastewater
Sanitary sewers (miles)266.08 266.50 266.21 266.35 267.04 268.50 269.71 269.71 269.84 *
Storm sewers (miles)255.02 256.70 251.97 246.69 ******
Transit
Buses 16 16 16 17 17 17 17 17 17 17
Sources: various city departments
* Data Not Available
City of Oshkosh, Wisconsin
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
December 31, 2017
138
2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
Police
Physical arrests 1,652 2,646 3,854 4,606 5,162 5,727 7,603 6,217 6,307 6,087
Traffic Enforcement Citations 8,207 7,175 4,720 7,799 7,846 8,919 7,415 6,750 5,203 1,328
Reportable Accidents 1,453 1,464 1,434 1,243 1,403 1,453 1,381 1,360 1,191 1,390
Fire
Emergency responses 7,283 8,591 8,018 8,087 7,625 7,502 7,343 6,741 5,862 6,612
Fire responses 132 113 130 107 114 121 113 116 104 160
Other 1,475 1,117 844 901 879 783 766 840 1,119 1,194
Refuse Collection
Refuse collected (average tons per day)52.94 51.85 50.42 49.86 49.30 49.23 49.61 49.11 51.50 51.55
Refuse collected total tons per year 13,765.69 13,481.38 13,158.55 13,062.67 12,866.88 12,947.22 13,095.82 13,209.26 13,422.69 13,661.37
Comingled recyclable containers (tons)-4,421 4,353 4,262 4,317 4,526 4,434 4,371
Mixed paper (tons)2,004.17 2,438.73
Mixed paper and comingled recyclables (tons)4,327.65 3,635.36 3,609.33
Other Public Works
New street pavement (miles)- 1.01 0.00 0.00 0.16 0.00 0.00 0.05 0.25 0.42
Street resurfacing (miles)3.50 2.89 2.25 1.38 2.89 4.89 6.91 14.87 5.18 5.10
Inspection
Commercial construction - units 325 71 248 136 30 6 100 34 56 8
Commercial construction (thousands of dollars)23,293,785 14,655,000 15,897,849 11,315,000 4,383,000 283,183 9,496,000 7,117,000 2,878,000 2,844,000
Residential construction - units 39 25 27 21 21 22 14 24 18 51
Residential construction (thousands of dollars)7,845,550 4,060,521 4,498,868 3,411,675 3,998,218 3,323,089 1,339,096 2,706,490 2,295,400 7,247,277
Water
New construction (miles)4.91 3.43 2.62 2.78 2.54 4.01 4.24 5.26 **
Water main leaks 87 68 77 124 73 77 76 71 **
Average number of residential customers 20,585 20,569 21,441 21,268 22,110 20,815 20,498 20,465 20,436 20,388
Average annual usage per residential customer,35,047 35,774 34,982 35,651 37,198 40,123 39,785 39,935 **
(gallons)
Transit
Total route miles 538,967 483,085 483,492 481,997 486,540 473,615 468,124 462,430 465,125 470,945
Passengers (includes paratransit)980,057 995,697 990,431 1,000,778 1,007,785 1,089,681 1,029,812 990,329 1,061,149 1,223,656
Sources: various city departments
Notes:
Police Statistics
Reportable - Anything that gets reported to the State
1) Damage to property is over $1,000
2) Report of an injury or a complaint about an injury
3) Gov't property damage over $250.00 (ex - a light pole)
* Data Not Available
City of Oshkosh, Wisconsin
Operating Indicators by Function/Program
Last Ten Fiscal Years
December 31, 2017
139
MISCELLANEOUS GENERAL DATA
2008 Estimate
2009 Estimate
2010 Estimate
2011 Estimate
2012 Estimate
2013 Estimate
2014 Estimate
2015 Estimate 66,327
2016 Estimate 66,717
2017 Estimate 66,636
Year No.No.
2008 43 6,193
2009 20 6,130
2010 30 5,104
2011 50 1,834
2012 42 2,646
2013 33 2,439
2014 26 2,136
2015 38 20,396,717 1,974 67,144,205
2016 34 15,991,435 2,265 78,369,742
2017 46 19,201,000 2,544 106,623,646
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Water (3)23,352 23,451 23,512 23,547 23,823 24,225 24,352 24,352 23,538 23,573
Electric (4)42,910 43,038 43,382 43,729 43,861 44,343 44,369 42,612 38,893 39,862
Gas (4)32,441 32,505 32,667 32,867 32,987 33,019 33,028 32,226 30,077 30,229
City of Oshkosh, Wisconsin
December 31, 2017
66,325
66,083
66,080
64,350
65,920
POPULATION - CITY OF OSHKOSH (1)
New Residential: Single,
Family, and Apartments Total of All Permits
9,823,490
21,705,692
Economics
15,563,675
66,248,867
82,002,706
Value
77,672,133 26,119,317
25,447,066
95,870,311
64,463,673
74,950,553
66,653
Value
51,095,915
66,778
9,846,277
5,173,400
BUILDING PERMITS (2)
140
YEAR TOTAL UNITS
SINGLE
FAMILY TWO FAMILY
MULTIPLE
FAMILY
1997 374 119 22 233
1998 382 144 20 218
1999 423 157 20 246
2000 277 109 22 146
2001 450 121 10 319
2002 364 157 44 163
2003 529 153 36 340
2004 334 113 20 201
2005 138 63 32 43
2006 234 51 12 171
2007 238 58 2 178
2008 93 41 4 48
2009 46 14 4 28
2010 122 22 2 98
2011 141 12 2 127
2012 28 18 4 6
2013 53 23 - 30
City of Oshkosh, Wisconsin
New Dwelling Units Constructed
1997-2017
141
Rates:
Quarterly Volume Charge
First 3,000 cubic feet (CU FT)$4.93 per 100 CU. FT.
Next 7,000 cubic feet 4.75 per 100 CU. FT.
Next 190,000 cubic feet 4.30 per 100 CU. FT.
Over 200,000 cubic feet 4.10 per 100 CU. FT.
100 CU. FT. = 748 Gallons
Minimum Quarterly Charge
Meter Size Service Protection
5/8" & 3/4"24.00$ 7.20$
1"37.50 18.00
1-1/4"51.00 27.00
1-1/2"64.50 36.00
2"97.50 57.60
3"150.00 108.00
4"222.00 180.00
6"384.00 360.00
8"582.00 576.00
10"825.00 864.00
12"1,068.00 1,152.00
Billings Usage (00's)
Oshkosh Correctional Institute $ 459,458.23 104,707
Bemis/Curwood/Milprint 300,760.34 69,817
UW Oshkosh 313,840.39 66,484
Pepsi Bottling 229,862.37 54,809
Winnebago Mental Health
WATER UTILITY
City of Oshkosh, Wisconsin
Utility Information
December 31, 2017
142
Rates:
Quarterly Volume Charge
Charge per 100 cubic Feet $4.61 100 CU. FT. = 748 Gallons
Unmetered Customers:
Fixed Quarterly Charge
(based on 16 CCF/quarter)$97.26
Special Charges:
Meter Reading & Billing Charge
for non-sewer deduct meters,
per billing period.$5.00
Fixed Quarterly Charge
Meter Size Charge Meter Size Charge
5/8" & 3/4"$23.50 4"$298.29
1"41.49 6"583.63
1-1/4"50.92 8"926.04
1-1/2"70.02 10"1,439.65
2"104.26 12"1,667.73
3"184.16
Billings Usage (00's)
Oshkosh Correctional Institute $ 489,740.61 104,707
City of Oshkosh 331,156.31 68,681
UW Oshkosh 314,291.58 62,557
Bemis/Curwood/Milprint 227,099.08 48,190
WMHI 207,155.87 43,687
Winnebago County 164,444.34 33,098
Oshkosh Corporation 136,705.44 27,952
Drug Abuse Correctional Center 129,176.86 27,550
Midwest Realty Management 114,184.31 21,144
Charles & Marilyn Perry 90,756.44 18,784
SEWER UTILITY
Top Ten Users / Customers
City of Oshkosh, Wisconsin
Utility Information (Continued)
December 31, 2017
143
Rates:
Quarterly Equivalent Runoff Unit (ERU)
Charge per ERU $40.01
Small Residential (Impervious area < 1,750 square feet)0.67 ERU
Average Residential (Impervious area > 1,750 1.00 ERU
but < 3,750 square Feet)
Large Residential (Impervious area > 3,750 square feet)1.33 ERU
Other (Square feet of impervious area/2,817)
No charge for undeveloped properties
Billings ERU'S
Winnebago County $ 518,777.09 3,059.042
Oshkosh Corporation 339,554.80 2,201.545
City of Oshkosh 269,352.00 1,655.344
State of Wisconsin 227,919.10 1,454.821
Oshkosh Area School District 188,468.25 1,243.924
UW Oshkosh 179,947.56 1,149.842
Bemis / Curwood / Milprint 152,915.53 979.5796
Experimental Aircraft Association 112,756.79 728.9214
Bergstrom 89,862.01 575.6843
BFO Factory Outlets 61,882.37 393.6805
Top Ten Users / Customers
City of Oshkosh, Wisconsin
Utility Information (Continued)
December 31, 2017
STORM WATER UTILITY
144
2015 2016 2017 2017 2018
ACTUAL ACTUAL BUDGETED ESTIMATED PROPOSED
TAXES LEVIED BY CITY
Total Taxes Levied 33,334,300 34,281,525 36,297,700 36,297,700 37,861,700
Property Taxes Levied Other Funds (see details below)(26,195,000)(18,185,700)(18,776,200)(18,776,200)(19,485,800)
Net General Fund Property Tax 0072-4102 7,139,300 16,095,825 17,521,500 17,521,500 18,375,900
Municipal Owned Utility 0072-4112 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Snow Removal 0072-4172 69,397 50,579 67,700 27,000 49,000
Weed Cutting 0072-4171 37,802 24,258 37,500 33,300 33,800
Mobile Home Tax 0072-4108 139,325 137,836 130,000 150,500 150,500
Payment in Lieu of Taxes 0072-4118 96,153 133,104 105,000 87,200 101,600
TOTAL TAXES LEVIED 8,481,977 17,441,602 18,861,700 18,819,500 19,710,800
LICENSES & PERMITS
Heating 0750-4377 116,055 0 0 0 0
Liquor License 0050-4322 137,003 133,039 131,500 130,400 133,200
Cigarette License 0050-4358 7,060 6,560 6,800 6,700 6,700
Sundry License 0050-4972 29,068 29,551 27,000 28,700 27,000
Assessor Fees 0080-4390 120,839 131,644 120,000 154,600 100,000
Electric Permits 0750-4376 86,628 0 0 0 0
Building Permits 0750-4374 415,731 0 0 0 0
Plumbing Permits 0750-4378 111,548 0 0 0 0
Flammable Tank Fees 0750-4384 795 0 0 0 0
Housing Fees 0750-4386 3,570 0 0 0 0
Code Seals & Plan. Fees 0750-4383 770 0 0 0 0
Code Enforcement 0750-4388 47,480 (200)0 0 0
Weights & Measures 0750-4381 64,276 0 0 0 0
Zoning Ordinances 0740 - 4334 66,584 118,777 110,000 114,100 110,000
TOTAL LICENSES & PERMITS 1,207,407 419,371 395,300 434,500 376,900
FINES & COSTS
County Court 0211-4406 264,475 266,531 281,800 279,500 281,800
Police Department - Tickets 0211-4402 433,171 419,567 425,600 471,600 437,300
Penalties 0072-4120 87,560 97,554 87,600 80,700 84,700
TOTAL FINES & COSTS 785,206 783,652 795,000 831,800 803,800
STATE & COUNTY AIDS
Town Aid - Cable TV 1010-4252 12,277 0 0 0 0
Town Ambulance Aid 0240-4251 34,227 35,190 35,900 35,900 36,000
Aid to Local Streets 0073-4228 3,033,196 3,192,255 3,191,400 3,185,100 3,309,100
Municipal Services 0073-4232 & 4236 927,190 964,397 964,400 989,800 1,074,700
State Shared Aids 0073-4210 9,667,194 9,682,879 9,686,000 9,680,000 9,678,400
State/Fed Aids-Misc 0211/0610/0620/0730/0810-4236, 4240 4,586 8,401 0 0 0
State Aids - Fire 0230-4236 153,784 156,864 156,900 167,400 167,400
Aids-Police 0211-4206 & 4226 & 4253 185,764 212,198 215,300 198,600 180,700
Aids-Fire 0230-4206 & 4226 & 4240 0 0 0 14,600 0
State Computer Credit 0073-4237 189,351 323,614 175,000 498,600 505,900
Expenditure Restraint 0073-4238 1,132,105 1,176,792 1,244,500 1,244,500 1,345,900
TOTAL STATE & CO. AIDS 15,339,674 15,752,590 15,669,400 16,014,500 16,298,100
City of Oshkosh, Wisconsin
Budget for 2018 - Revenues
145
City of Oshkosh, Wisconsin
Budget for 2018 - Revenues
2015 2016 2017 2017 2018
ACTUAL ACTUAL BUDGETED ESTIMATED PROPOSED
USE OF MONEY & PROPERTY
Interest on Investments 0073-4908 59,169 96,163 70,000 103,000 86,700
Interest on Special Assessments 0072-4910 487,982 480,057 451,300 458,000 458,000
Rent 0073-4922 - 4926 55 55 100 100 100
TOTAL USE OF MONEY & PROP.547,206 576,275 521,400 561,100 544,800
CHARGES FOR CURRENT SERVICES
Police Department Fees 0211- 4532-4972 168,380 220,722 162,500 205,500 188,200
Fire Department Fees 0230-4534 179,746 196,608 171,800 172,500 176,300
Ambulance Fees 0240-4538 2,132,608 2,157,585 2,160,000 2,039,100 2,039,100
Engineering Fees 0420-4520 17,626 318 0 600 0
Street Services 0420 & 0430-4557 74,656 11,194 12,500 9,800 9,800
Central Garage/Fuel (external sales) 0450-4551 0 41,855 35,000 46,700 46,700
Electrical Department 0801-4520 37,525 69,009 30,000 33,800 33,800
Sign Department 0810-4520-4972 759 5,251 3,000 2,000 2,000
Parks Revenues 0610 / 0620-4572 - 4972 45,990 51,731 69,000 53,000 49,000
City Clerk Fees 0050-4520 6,095 5,685 5,800 5,800 5,800
Comm Dev 0740 / Econ Dev 0730 - CDBG -4811 240,357 247,629 255,500 255,500 255,400
Community Development - TIF 0730 / 0740-4811 407,894 411,900 400,200 462,600 472,500
Economic Development - County Aids 0730-4240 0 0 25,000 0 0
Comm Dev-Plan Review Fees-Econ Dev-0730-4520 1,307 25,000 0 0 0
Cable Access Fees 0150-4520 4,820 3,800 3,500 3,200 3,000
CATV Revenue 1010-4312 730,317 566,449 705,500 693,000 693,000
Property Search 0073-4519 24,415 28,370 28,400 27,500 24,400
Hazardous Materials 0230-4540 2,422 0 500 0 0
Garbage Fees 0470-4558 34,148 0 0 0 0
TOTAL CHGS. FOR CUR. SERV.4,109,065 4,043,106 4,068,200 4,010,600 3,999,000
INTERDEPARTMENTAL REVENUES
Materials & Labor-Utilities 0430-4812 709,883 276,820 295,000 230,000 230,000
Supervisor/Admin Labor-Util 0410,430-4814 330,467 299,885 280,000 374,100 381,900
Central Garage 0450-4815 384,694 419,000 350,800 350,800
Accounting Services-Utilities 0073-4806 457,519 492,731 464,300 441,600 449,400
Equipment/Labor Rental - Recycling 0480-4834 280,295 342,364 340,100 340,100 340,100
Computer Services - Utilities 0110-4822 168,500 168,500 168,500 168,500 130,500
Water G.O. Bond Abatement 0074-5275 1,261,731 0 0 0 0
Sewer G.O. Bond Abatement 0074-5273 1,419,448 0 0 0 0
Storm G.O. Bond Abatement 0074-5278 1,021,365 0 0 0 0
Parking G.O. Bond Abatement 0074-5272 29,896 0 0 0 0
Ind. Dev. G.O. Bond Abatement 0074-5270 407,405 0 0 0 0
TIF Districts G.O. Bond Abatement 0074-5274 4,382,082 0 0 0 0
Golf Course G.O. Bond Abatement 0074-5277 6,022 0 0 0 0
Centre G.O. Bond Abatement 0074-5261 220,278 0 0 0 0
Cable TV G.O. Bond Abatement 0074-5279 6,728 0 0 0 0
TSF from Debt Service BABs 0074-5299 0 0 0 0 0
TSF From Other Funds 0074-5299 0 0 0 0 0
Engineering Fees-Const. 0420-4555 1,481,183 1,807,490 1,600,000 1,750,000 1,500,000
TOTAL INTER. DEP. REV.12,182,802 3,772,484 3,566,900 3,655,100 3,382,700
146
City of Oshkosh, Wisconsin
Budget for 2018 - Revenues
2015 2016 2017 2017 2018
ACTUAL ACTUAL BUDGETED ESTIMATED PROPOSED
UNCLASSIFIED
Sundry Revenue 0073 etc - 4952-4972 132,331 116,938 100,000 116,400 100,000
Sale of Capital Assets (7,233)11,175 0 0 6,500
Bond Proceeds 0073-5302 0 0 0 0 0
TOTAL UNCLASSIFIED 125,098 128,113 100,000 116,400 106,500
TOTAL GENERAL FUND REVENUES 42,778,435 42,917,193 43,977,900 44,443,500 45,222,600
Levy for Recycling *0 0 0 0 0
Levy for Garbage Collect & Disp *1,301,400 1,203,700 1,329,100 1,329,100 1,324,700
Levy for Street Lighting *1,100,000 1,110,900 1,010,900 1,010,900 1,052,000
Levy for Senior Services *281,200 276,400 299,400 299,400 312,100
Levy for "GO" Transit Utility *655,100 746,200 739,500 739,500 739,500
Levy for Library *2,482,100 2,657,100 2,624,000 2,624,000 2,627,000
Levy for Museum *863,400 911,700 892,100 892,100 907,500
Levy for Grand Opera House *73,000 22,700 22,700 22,700 600
Levy for Cemetery*282,600 296,400 290,400 290,400 302,700
Levy for Health Services*0 0 0 0 0
Levy for Equipment Fund *927,500 915,900 1,000,000 1,000,000 956,900
Levy Leach Amphitheater *14,000 14,000 14,000 14,000 14,000
Levy Pollock Comm Water Park *64,000 64,000 64,000 64,000 64,000
Levy for Debt Services 18,130,300 9,949,000 10,471,700 10,471,700 11,166,600
Levy for Agency Funds 20,400 17,700 18,400 18,400 18,200
TOTAL PROPERTY TAXES LEVIED TO OTHER FUNDS 26,195,000 18,185,700 18,776,200 18,776,200 19,485,800
Build America Bond Credits Debt Services 355,400 336,190 311,100 225,700 202,100
Bond Abatements from Debt Service Fund 0 10,338,331 8,523,000 8,221,300 8,479,800
Approp. from Debt Svc. Fund 568,000 350,000 250,000 250,000 0
OTHER FUND REVENUES 27,118,400 29,210,221 27,860,300 27,473,200 28,167,700
147
PAYROLL PAYROLL CONTRAC-MATERIALS
DIRECT INDIRECT TUAL UTILITIES FIXED AND CAPITAL TOTAL
LABOR LABOR SERVICES CHARGES SUPPLIES OUTLAY BUDGET
GENERAL GOVERNMENT
City Council 36,500 2,800 16,200 0 0 3,000 0 58,500
City Manager 196,900 65,900 17,200 0 0 1,000 0 281,000
City Attorney 305,100 84,800 9,800 400 0 8,900 0 409,000
Human Resources 406,500 135,300 100,200 500 0 14,800 0 657,300
City Clerk 197,800 62,100 9,000 200 0 3,300 0 272,400
Elections 110,200 3,100 16,600 100 0 8,400 0 138,400
Finance 829,700 348,900 5,900 200 0 4,900 0 1,189,600
Purchasing 175,600 68,800 4,400 200 0 1,400 0 250,400
Information Technology Division 456,000 185,800 461,000 18,600 200 132,100 39,400 1,293,100
Insurance 0 0 0 0 684,900 0 0 684,900
Facilities Maintenance 250,700 127,500 76,200 218,000 1,700 37,500 0 711,600
Independent Audit 0 0 24,700 0 0 0 0 24,700
Media Services 159,000 57,700 3,900 500 0 2,100 0 223,200
TOTAL GENERAL GOVERNMENT 3,124,000 1,142,700 745,100 238,700 686,800 217,400 39,400 6,194,100
PUBLIC SAFETY
Police 9,359,600 3,126,500 287,300 74,900 100 211,500 217,300 13,277,200
Animal Care 0 0 92,700 0 0 0 0 92,700
Fire & Ambulance 8,776,100 3,223,000 198,200 116,900 600 259,500 3,000 12,577,300
Hydrant Rental 0 0 650,000 0 0 0 0 650,000
Auxiliary Police 0 0 1,100 500 0 3,600 0 5,200
Crossing Guards 75,500 5,800 0 0 0 100 0 81,400
Police & Fire Commission 0 0 27,000 0 0 300 0 27,300
TOTAL PUBLIC SAFETY 18,211,200 6,355,300 1,256,300 192,300 700 475,000 220,300 26,711,100
PUBLIC WORKS
Public Works - Administration 281,600 94,100 5,200 600 200 900 0 382,600
Engineering 837,400 335,500 25,300 5,300 100 14,300 0 1,217,900
Streets - General 1,561,300 636,500 89,500 1,800 500 394,300 0 2,683,900
Central Garage 434,200 210,400 79,900 139,500 1,100 1,077,900 0 1,943,000
TOTAL PUBLIC WORKS 3,114,500 1,276,500 199,900 147,200 1,900 1,487,400 0 6,227,400
PARKS & OTHER FACILITIES
Parks 985,900 354,400 51,200 221,300 3,300 192,100 0 1,808,200
Forestry 217,800 83,000 11,200 0 300 25,600 0 337,900
TOTAL PARKS & OTHER FAC.1,203,700 437,400 62,400 221,300 3,600 217,700 0 2,146,100
2018 Operating Budget by Function
148
PAYROLL -PAYROLL -CONTRAC-MATERIALS
DIRECT INDIRECT TUAL UTILITIES FIXED AND CAPITAL TOTAL
LABOR LABOR SERVICES CHARGES SUPPLIES OUTLAY BUDGET
COMMUNITY DEVELOPMENT
Assessor 302,700 126,400 83,100 3,000 100 3,900 0 519,200
Economic Development 357,300 115,600 139,000 1,200 0 3,900 0 617,000
Planning Services 550,500 175,000 24,800 800 0 4,100 0 755,200
Inspection Services 0 0 0 0 0 0 0 0
TOTAL COMMUNITY DEV.1,210,500 417,000 246,900 5,000 100 11,900 0 1,891,400
DEPT. OF TRANSPORTATION
Electric 321,300 126,800 10,600 41,600 1,000 45,000 0 546,300
Sign 101,400 21,800 11,800 4,100 0 67,400 0 206,500
TOTAL DEPT. OF TRANS.422,700 148,600 22,400 45,700 1,000 112,400 0 752,800
UNCLASSIFIED
Unemployment Compensation 0 10,000 0 0 0 0 0 10,000
Bank Fees 0 0 10,000 0 0 0 0 10,000
Uncollectible Accounts 0 0 550,000 0 0 0 0 550,000
Employee Benefit Fees 0 0 13,000 0 0 0 0 13,000
Patriotic Celebration 0 0 20,000 0 0 0 0 20,000
Adjustment of Salaries 0 502,500 0 0 0 0 0 502,500
Unclassified Expenses 0 0 142,200 0 0 0 0 142,200
Mobile Home Tax 0 0 52,000 0 0 0 0 52,000
Industrial Development 0 0 0 0 0 0 0 0
TOTAL UNCLASSIFIED 0 512,500 787,200 0 0 0 0 1,299,700
TOTAL BUDGET 27,286,600 10,290,000 3,320,200 850,200 694,100 2,521,800 259,700 45,222,600
Budget for Recycling 276,700 85,700 420,200 200 7,600 79,600 461,200 1,331,200
Budget for Garbage Collect & Disp 359,700 176,800 672,200 0 21,500 136,000 0 1,366,200
Budget for Street Lighting 0 0 0 994,000 0 58,000 0 1,052,000
Budget for Senior Services 318,600 114,800 31,600 47,700 12,100 6,100 0 530,900
Budget for "GO" Transit Utility 1,819,800 790,100 1,720,700 45,400 147,300 506,300 0 5,029,600
Budget for Library 1,967,500 639,900 416,900 130,600 24,500 393,100 0 3,572,500
Budget for Museum 692,200 231,800 84,200 59,500 19,900 60,700 0 1,148,300
Budget for Grand Opera House 0 0 16,000 0 8,500 1,100 0 25,600
Budget for Cemetery 228,100 95,000 9,000 29,400 11,800 29,400 0 402,700
Budget for Leach Amphitheater 16,300 1,400 20,000 18,600 200 19,500 0 76,000
Budget for Pollock Comm Wtr Park 53,700 4,100 165,200 61,600 9,900 61,900 6,000 362,400
Budget for Equipment Fund 0 0 0 0 0 0 956,900 956,900
TOTAL OPERATING BUDGET 33,019,200 12,429,600 6,876,200 2,237,200 957,400 3,873,500 1,683,800 61,076,900
City of Oshkosh, Wisconsin
2018 Operating Budget by Function (Continued)
149
PER $1,000 2017 2016 INCREASE
OF TAXES TAX RATE TAX RATE (DECREASE)
State 0.000 % $0.000 $0.170 $(0.170)
County 20.029 5.369 5.415 (0.046)
Area Schools 36.462 9.774 10.131 (0.357)
Area Vocational 4.122 1.105 1.116 (0.011)
City Tax 39.387 10.558 10.344 0.214
100.000 $26.806 $27.176 $(0.370)
State Credit 1.732 1.563 0.169
$25.074 $25.613 $(0.539)
City of Oshkosh, Wisconsin
2018 Levy - 2017 Tax Rate
County
20.029%
Area Schools
36.462%Area
Vocational
4.122%
City Tax
39.387%
150
2018 2017 INCREASE
SOURCE OF FUNDS AMOUNT PER CENT PER CENT (DECREASE)
Property Tax Levy $37,861,700 51.59%50.54%2.26%
Other Tax Revenue 1,334,900 1.82%1.87%-0.04%
State Expenditure Restraint Revenue 1,345,900 1.83%1.73%0.07%
State Shared Revenue 9,678,400 13.19%13.48%-0.15%
Aid to Local Streets 3,309,100 4.51%4.44%-0.06%
Other State & County Aids 1,964,700 2.68%2.15%-0.04%
Licenses, Permits, Fines 1,180,700 1.61%1.66%-0.01%
Interdepartmental Charges 3,382,700 4.61%4.97%-0.21%
Interest on Investments / Special Assessments 544,700 0.74%0.63%0.19%
Miscellaneous Revenue 106,600 0.14%0.24%-0.01%
Charges for Services 3,999,000 5.45%5.64%-1.10%
Other Fund Revenues 8,681,900 11.83%12.65%-0.90%
$73,390,300 100.00%100.00%
Source of Funds
City of Oshkosh, Wisconsin
Property Tax Levy
51.59%
Other Tax Revenue
1.82%
State Expenditure
Restraint Revenue
1.83%
State Shared Revenue
13.19%
Aid to Local Streets
4.51%
Other State & County
Aids
2.68%
Licenses, Permits,
Fines
1.61%
Interdepartmental
Charges
4.61%
Interest on
Investments / Special
Assessments
0.74%
Miscellaneous
Revenue
0.14%
Charges for Services
5.45%Other Fund Revenues
11.83%
151
2018 2017 INCREASE
USE OF FUNDS AMOUNT PER CENT PER CENT (DECREASE)
Parks 2,526,800 3.44%3.41%0.03%
Debt Services 19,848,500 27.04%27.22%-0.18%
Library, Museum, GOH 3,535,100 4.82%4.93%-0.11%
Miscellaneous 2,274,800 3.10%3.20%-0.10%
Police 13,470,150 18.35%18.19%0.16%
Transportation 2,544,300 3.47%3.49%-0.02%
Fire and Ambulance 13,240,950 18.04%17.91%0.13%
General Government 6,194,100 8.44%8.13%0.31%
Public Works 7,552,100 10.29%10.37%-0.08%
Community Development 1,891,400 2.58%2.73%-0.15%
Senior Services 312,100 0.43%0.42%0.01%
$73,390,300 100.00%100.00%
City of Oshkosh, Wisconsin
Use of Funds
Parks
3.44%
Debt Services
27.04%
Library, Museum,
GOH
4.82%
Miscellaneous
3.10%
Police
18.35%
Transportation
3.47%
Fire and
Ambulance
18.04%
General
Government
8.44%
Public Works
10.29%
Community
Development
2.58%
Senior Services
0.43%
152
AMOUNT PER CENT
Payroll - Direct Labor $33,019,200 40.79 %
Agency Funds 18,200 0.02
Payroll - Indirect Labor 12,429,600 15.36
Fixed Charges 957,400 1.18
Debt Retirement 19,848,500 24.52
Contractual Services 6,876,200 8.50
Utilities 2,237,200 2.76
Materials & Supplies 3,873,500 4.79
Capital Outlay 1,683,800 2.08
$80,943,600 100.00 %
2018 Budget - Use of Funds by Function
City of Oshkosh, Wisconsin
Payroll -Direct Labor
40.79%
Agency Funds
0.02%
Payroll -Indirect
Labor
15.36%
Fixed Charges
1.18%
Debt Retirement
24.52%
Contractual Services
8.50%
Utilities
2.76%
Materials & Supplies
4.79%Capital Outlay
2.08%
153
ADDITIONAL INDEPENDENT AUDITORS’ REPORT
FOR BASIC FINANCIAL STATEMENTS
154schencksc.com
Schenck SC
Independent auditors’ report on internal control over financial reporting and on
compliance and other matters based on an audit of financial statements
performed in accordance with Government Auditing Standards
To the Common Council
Oshkosh, Wisconsin
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General
of the United States, the financial statements of the governmental activities, the business-type activities, the discretely
presented component unit, each major fund, and the aggregate remaining fund information of the City of Oshkosh,
Wisconsin (the “City”) as of and for the year ended December 31, 2017, and the related notes to the financial
statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated
August 20,2018.
INTERNAL CONTROL OVER FINANCIAL REPORTING
In planning and performing our audit of the financial statements, we considered the City’s internal control over
financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for
the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion
on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the
City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control
such that there is a reasonable possibility that a material misstatement of the City’s financial statements will not be
prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of
deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by
those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and
was not designed to identify all deficiencies in internal control that might be material weaknesses or significant
deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. Given
these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be
material weaknesses.
COMPLIANCE AND OTHER MATTERS
As part of obtaining reasonable assurance about whether the City’s financial statements are free from material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements, noncompliance with which could have a direct and material effect on the determination of financial
statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our
audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance or other matters that are required to be reported under Government Auditing Standards.
155
PURPOSE OF THIS REPORT
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
result of that testing, and not to provide an opinion on the effectiveness of the City’s internal control or on compliance.
This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering
the City’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
Certified Public Accountants
Green Bay, Wisconsin
August 20 2018