HomeMy WebLinkAbout2022ACFR
City of Oshkosh, Wisconsin
2022 Annual Comprehensive
Financial Report
As of and for the Year Ended December 31, 2022
CITY OF OSHKOSH, WISCONSIN
Table of Contents
December 31, 2022
Page
INTRODUCTORY SECTION
Letter of Transmittal i - viii
Organizational Chart ix
The City x
FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT 1 - 3
MANAGEMENT’S DISCUSSION AND ANALYSIS MD&A 1 –
MD&A 8
BASIC FINANCIAL STATEMENTS
Government - Wide Financial Statements
Statement of Net Position 4
Statement of Activities 5 - 6
Fund Financial Statements
Balance Sheet – Governmental Funds 7 - 8
Reconciliation of the Balance Sheet – Governmental Funds to the Statement
of Net Position 9
Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit)
– Governmental Funds 10 -11
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances (Deficit) – Governmental Funds to the Statement of Activities
12
Statement of Net Position – Proprietary Funds 13 - 14
Statement of Revenues, Expenses and Changes in Net Position – Proprietary Funds 15 - 16
Statement of Cash Flows – Proprietary Funds 17 - 18
Statement of Fiduciary Net Position – Fiduciary Fund 19
Statement of Changes in Net Position – Fiduciary Fund 20
Notes to Financial Statements 21 - 60
REQUIRED SUPPLEMENTARY INFORMATION
Schedules of Employer’s Proportionate Share of the Net Pension Liability (Asset) and
Employer Contributions – Wisconsin Retirement System 61
Schedules of Employer’s Proportionate Share of the Net OPEB Liability and Employer
Contributions – Local Retiree Life Insurance Plan 62
Schedule of Changes in Total OPEB Liability and Related Ratios 63
Schedule of Budgetary Comparison –
Budget and Actual – General Fund 64
Notes to Required Supplementary Information 65 - 66
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2022
SUPPLEMENTARY INFORMATION
Combining Balance Sheet – Nonmajor Governmental Funds
67 - 74
Combining Statement of Revenues, Expenditures and Changes in Fund Balances –
Nonmajor Governmental Funds
75 - 82
Combining Statement of Net Position – Nonmajor Enterprise Funds
Combining Statement of Revenues, Expenses and Changes in Net Position – Nonmajor
Enterprise Funds
83 - 84
85 - 86
Combining Statement of Cash Flows – Nonmajor Enterprise Funds 87 - 88
Combining Statement of Net Position (Deficit) – Internal Service Funds 89
Combining Statement of Revenues, Expenses and Change in Net Position (Deficit) –
Internal Service Funds 90
Combining Statement of Cash Flows – Internal Service Funds 91
OTHER INFORMATION
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget to Actual -
Debt Service 92
Special Assessment Improvement 93
Senior Services 94
Business Improvement District 95
Recycling 96
Street Lighting 97
Library 98
Museum 99
Cemetery 100
Community Development Block Grant 101
Neighborhood Improvement Loan Program 102
Local Revolving Loan Program 103
Senior Services Revolving Loans 104
Police Special 105
Fire Special 106
Community Development Special 107
Park Revenue Facilities 108
Leach Amphitheater 109
Public Works Special 110
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2022
OTHER INFORMATION (Continued)
Garbage Collection and Disposal 111
Pollock Water Park 112
Health Neighborhood Initiative 113
Rental Inspections 114
Special Events 115
Street Tree Memorial 116
Equipment 117
Park Improvement and Acquisition 118
Senior Center 119
Grand Opera House 120
Parking Ramp Improvements 121
TIF No. 8 S Aviation Industrial 122
TIF No. 12 Division Street 123
TIF No. 13 Marion Road/Pearl Avenue 124
TIF No. 14 Mercy Medical Center 125
TIF No. 15 Park Plaza/Commerce Street 126
TIF No. 16 100 Block Redevelopment 127
TIF No. 17 City Center Redevelopment 128
TIF No. 18 SW Industrial Park Expansion 129
TIF No. 19 NW Industrial Expansion 130
TIF No. 20 South Shore Redevelopment 131
TIF No. 21 Fox River Corridor 132
TIF No. 23 SW Industrial Park Expansion 133
TIF No. 24 Oshkosh Corp E-COAT 134
TIF No. 25 City Center Hotel 135
TIF No. 26 Aviation Business Park 136
TIF No. 27 North Main Street Industrial Park 137
TIF No. 28 Beach Building Redevelopment 138
TIF No. 29 Morgan District 139
TIF No. 30 Washington Building 140
TIF No. 31 Buckstaff Redevelopment 141
TIF No. 32 Granary Redevelopment 142
TIF No. 33 Lamico Redevelopment 143
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2022
OTHER INFORMATION (Continued)
TIF No. 34 Oshkosh Corp Headquarters 144
TIF No. 35 Oshkosh Avenue Corridor 145
TIF No. 36 Merge Redevelopment 146
TIF No. 37 Aviation Plaza 147
TIF No. 38 Pioneer Redevelopment 148
TIF No. 39 Cabrini School Redevelopment 149
TIF No. 40 Miles Kimball Redevelopment 150
Transit Utility 151
Water Utility 152
Sewer Utility 153
Stormwater Utility 154
Parking Utility 155
Oshkosh Redevelopment Authority 156
Industrial Park Land 157
Inspection Services 158
Health Insurance 159
Police Pension 160
Fire Pension 161
Worker’s Compensation 162
Field Operations 163
STATISTICAL SECTION
Net Position 164
Changes in Net Position 165 - 166
Fund Balances, Governmental Funds 167
Changes in Fund Balances, Governmental Funds 168
Assessed and Estimated Actual Value of Taxable Property 169
Property Tax Rates – Direct and Overlapping Governments 170
Principal Taxpayers 171
Property Tax Levies and Collections 172
Outstanding Debt by Type 173
Ratios of Net General Bonded Debt Outstanding 174
Direct and Overlapping Governmental Activities Debt 175
Legal Debt Margin Information 176
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2022
STATISTICAL SECTION (Continued)
Pledged-Revenue Coverage
Water Revenue Bonds 177
Sewer Revenue Bonds 177
Stormwater Revenue Bonds 177
Demographic an Economic Statistics 178
Principal Employers 179
Full-time Equivalent City Government Employees by Function / Program 180
Capital Asset Statistics by Function / Program 181
Operating Indicator by Function / Program 182
Economics – Population, Building Permits, and Utility Customers 183
New Dwelling Units Constructed 184
Utility Information 185-186
Budgeted Revenues 187
Operating Expenditure Budget by Function 188
Pie Charts -
Levy Rate 189
Source of Funds (Where the Money Comes From) 190
Use of Funds (Where the Money Goes) 191
Use of Funds by Function (How the Money Goes) 192
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 193-194
Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
July 18, 2023
Honorable Mayor and Council Members, City of Oshkosh:
The Annual Comprehensive Financial Report for the fiscal year ended December 31, 2022, has been prepared to
provide readers detailed information concerning the financial condition of the City of Oshkosh. This report was
prepared by the City’s Department of Finance. Responsibility for both the accuracy of the data and the
completeness and fairness of the presentation, includin g all disclosures, rests with the City. We believe the
information contained herein is accurate in all material respects. In addition, we believe the information is presented
in a manner designed to fairly set forth the financial activities of the City a nd 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.
THE REPORTING ENTITY
The Governmental Accounting Standards Board (GASB) outlines criteria by which financial information must be
supplied by the primary government. Criteria include 1) the primary government’s finances; 2) organizations for
which the primary government is financially responsible; and 3) other organizations for which the nature and
significance of their relationship with the primary government are such that exclusion would cause the reporting
entity’s financial statement to be misleading or incomplete.
This report includes all of the funds and component units of the City of Oshkosh as defined by the criteria for
reporting units.
General Fund •Accounts for the general operation of the City of Oshkosh
Special
Revenue Funds
•Seniors Center
•Business Improvement District
•Recycling
•Street Lighting
•Library
•Police Special
•Fire Special
•Community Develop Special
•Leach Amphitheater
•Garbage Collection & Disposal
•Public Works Special
•Museum
•Cemetery
•Community Development Block Grant
•Rental Rehab Loan Program
•Senior Center Revolving Loans
•Parks Revenue Facilities
•Pollock Water Park
•Healthy Neighborhood Initiative
•Rental Inspections
•Local Revolving Loan Program
•Special Events
Debt Service
Fund
This fund accounts for the resources accumulated and payments made for the principal
and interest on long-term debt
Capital Projects
Funds
•Sidewalk Construction
•Street Tree Memorial
•Contract Control
•Parks Improvement
•Mct Rochlin Park Smokestack
•Grand Opera House
•TIF # 8 - 43
•Street Improvement
•Special Assessments
•Equipment
•Park Subdivision Improvement
•Senior Center Revolving
•Parking Ramp Improvements
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Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
Enterprise
Funds
•Transit Utility
•Water Utility
•Parking Utility
•Sanitary Sewer Utility
•Stormwater Utility
•Redevelopment Authority
Internal Service
Funds
•Health Insurance
•Worker’s Compensation
•Police Pension
•Fire Pension
•Field Ops Services
Custodial/
Permanent
Funds
•Tax Collection
•Investment/Trust Fund
The Redevelopment Authority is a component unit of the City, so this report include s a discrete presentation of their
financial data. The Redevelopment Authority was created by the City Council in 2003 for the purpose of eliminating
and preventing substandard, deteriorated and blighted area and encouraging urban renewal, especially in the
central city.
ECONOMIC CONDITIONS
Oshkosh is the perfect place for businesses to call home. With an impressive portfolio of top employers, Oshkosh
has the resources that businesses and entrepreneurs need to reach their goals and find success.
The top ten employers are as follows:
Firm Type of Business/Product Estimated
Employees
Oshkosh Corporation Specialized Trucks 6,900
Amcor Packaging 3,969
Oshkosh Area School District Elementary and secondary education 1,290
UW-Oshkosh College 1,288
US Bank Financial Institution 1,144
Winnebago County Government 1,046
Aurora Medical Center and Group Health care 1,036
4imprint Advertising specialties 819
Silver Star Brands Mail order distribution 650
Winnebago Mental Health Institute Health care 625
Rooted in manufacturing excellence, Oshkosh is committed to the continued diversification of our manufacturing
base in order to ensure and maintain a strong economic climate. Our focus for new growth include:
Aviation
Aviation is a big part of our heritage and it’s something we’d like to build upon. The Oshkosh region is uniquely
positioned to cultivate business in this sector because of our incredible assets: the Experimental Aircraft
Association (EAA) world headquarters, the annual AirVenture fly-in, a network of four airports with a wide array of
services and facilities, aviation education programming at Fox Valley Technical College (FVTC), the University of
Wisconsin Oshkosh (UW Oshkosh), a strong workforce, an established supply chain and an already existing
aviation business cluster.
Grants from the U.S. Economic Development Administration (EDA) and the Department of Defense Office of
Economic Adjustment (DoD-OEA) have provided funding support for advancement of th e aerospace cluster
initiative. In 2012, East Central Wisconsin Regional Planning Commission (EC WRPC), the city of Oshkosh and
UW Oshkosh applied for and received a $2,000,000 grant from the EDA to build the infrastructure needed at the
Oshkosh Aviation Business Park. In 2013, following cuts in defense spending, the region was awarded a planning
grant from DoD-OEA (ORDIDI grant). The purpose of the grant was twofold: first, to provide direct assistance to
suppliers and employees in Oshkosh and surrounding communities, and second, to assist with economy
diversification efforts already underway.
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Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
One diversification effort was the aerospace development cluster project. A portion of the ORDIDI grant was
allocated to provide funding to conduct an aerospace cluster study in Oshkosh and develop an associated
business plan. The study used industry trends, market opportunities and regional assets to better focus efforts on
specific areas of the aerospace/aviation industry.
Manufacturing
The Oshkosh-Neenah Metropolitan Statistical Area, (MSA) is home to over 300 manufacturing-related businesses
employing more than 21,000 people. As a result, as both a growth and maturing industry, Oshkosh is focused on
helping our employers through both opportunities and challenges related to workforce development, international
trade, supplier connections, innovation and assistance with regulatory issues.
Information Technology
Information Technology is such an integral part of business today. Amplify Oshkosh is working to foster
awareness and growth of IT in our community. A study completed by Oshkosh community partners called for
Oshkosh to continue to provide the necessary resources to existing IT companies and local entrepreneurs that
want to grow their businesses in Oshkosh and the New North region. The presence of a strong educational
system, including UW-Oshkosh and Fox Valley Technical College, provides a talent base for future employees, as
well as core degree programs that will help the IT sector grow. We have a growing network of IT professionals
that is being fostered by the growth of these companies and we have the basic infrastructure network in place that
has allowed these companies to locate and grow here.
COVID-19 and Economic Disruptions
The City continues to monitor the effects of the COVID-19 pandemic and related economic disruption. The City
will continue to monitor the budgetary impact and activities and expects minimal disruption in operations. Ongoing
impact of COVID-19 on the City’s operational and financial performance will depend on future developments,
including the duration of the outbreak and related governmental or regulatory actions.
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (H.R. 1319) into law. The
$1.9 trillion package, based on President Biden’s American Rescue Plan, is intended to combat the COVID -19
pandemic, including the public health and economic impacts. The City was allocated $20.5 million. Through
December 31, 2022, the City has appropriated approximately $15,385,000 of ARPA funds for infrastructure and
$5,115,000 to non-City programming or direct assistance.
MAJOR INITIATIVES
The City of Oshkosh developed a Strategic Plan for 2021 and 2022. The
Strategic Plan was reviewed and modified for 2023 and 2024.The Vision
Statement for the City is that Oshkosh is “A thriving and sustainable
community offering abundant opportunities for work and life.”
To reach that vision, the mission of the City was to “provide goods and
services in pursuit of a safe and vibrant community.”
The Strategic Plan was developed around six strategic goals: support
economic development; provide a safe, secure, and healthy community;
enhance the effectiveness of our city government; improve and maintain
our infrastructure; enhance our quality-of-life services and assets; and
strengthen our neighborhoods.
Economic Development
The strategic goal is to be recognized as a premier community in Wisconsin by fostering entrepreneurial activity,
developing and retaining a diverse mix of employees and employment opportunities, and revitalizing the
downtown/central city area and the greater Oshkosh area. To accomplish this goal the City objectives include:
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Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
A)Continue to Support Business Retention and Expansion (BR&E), Attraction and Entrepreneurship
B)Support Redevelopment Opportunities Throughout the City
C)Continue to Develop Infrastructure Needed to Support Business and Residential Development
D)Work with Community Partners to Attract and Develop Our Workforce
Safe, Secure, and Healthy Community
The strategic goal is to create public safety officials who are trusted, efficient and effect ive professionals. To
accomplish this goal the City objectives include:
A)Enhance Community Trust in Public Safety
B)Provide Well Trained, Effective and Equipped Public Safety Professionals
C)Enhance Crime Prevention, Community Policing, & Transportation Safety Strategies
D)Improve the Community’s Ability to Withstand & Recover from Disruptive Events
E)Implement Strategies & Solutions for Community Risk Reduction
F)Continue to Improve Strategies to Address Mental Health Crises and Substance Abuse in the
Community
G)Improve Transportation Safety within Community
Enhance the Effectiveness of City Government
The strategic goal is to maximize organizational efficiency by successfully achieving City initiatives. To
accomplish this goal the City objectives include:
A)Maximize our Financial Position
B)Recruit, Retain, Engage, and Recognize Employees
C)Improve our Performance and Outcome Measures Including Benchmarks
D)Align Employee Performance to Department Plans
E)Build Trust Through Communication, Education, and Relationship Building
Improve and Maintain Infrastructure
The strategic goal is that a safe and effective infrastructure that provides a framework for full scale community
enjoyment. To accomplish this goal the City objectives include:
A)Improve our Streets, Transit, Bicycle and Pedestrian Facilities
B)Update and Maintain City Technology
C)Improve our City Facilities
D)Improve Our Public Utilities
E)Update and Improve Our City Equipment
Enhance Our Quality of Life Services and Assets
The strategic goal is that natural, cultural and recreational assets of the city are recognized as a source of pride
for the community. To accomplish this goal the City objectives include:
A)Provide Improved Park and Senior Center Facilities
B)Analyze, Plan And Implement Strategies To Maximize Parks Department Operational Efficiencies
C)Strengthen Museum Exhibitions To More Broadly Represent And Appeal To Educational Entities In
The Community
D)Better Utilize Museum Collections For The Public
E)Create Awareness Of and Participation For The Museum Through Brand Identity, Marketing, And
Expanded Programs
F)Encourage Giving, Partnerships, and Alternative Funding Sources For Quality Of Life
G)Continue To Make Progress Toward The Library’s Vision Of “A Library In Every Life”
Strengthen Our Neighborhoods
The strategic goal is that neighborhoods throughout the community are attractive, well maintained, and desirable
places to live that inspire positive social interactions among residents. To accomplish this goal the City objec tives
include:
A)Enhance And Promote A Culture Of Neighborhood
B)Leverage City Resources and Incentives To Encourage Private Investment And Maintenance In
Neighborhoods
C)Implement Development & Redevelopment In Specific Neighborhoods And Surrounding Commercial
Corridors
D)Collaborate With Community Partners To Reduce Housing Instabilities
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Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
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 absolut e,
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. We 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, 2022.
GENERAL GOVERNMENT FUNCTIONS
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 reco mmendations 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.
City Administration
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 city, with policy direction from the Common Council. Mr.
Rohloff has 39 years of experience in local government management.
The Finance Department is responsible for the following divisions: Finance, Collections, Accounting, Payroll,
Parking, and Water/Sewer/Storm Water Utilities. The department assists the City Manager in preparing the City
Budget and is responsible for the administration of budgeted funds. The Finance Director is led by Russell Van
Gompel, who is assisted by the Assistant Directors of Finance, Hailey Palmquist and Julie Calmes, CPA, whose
day-to-day responsibilities include supervising and participating in all general, utility, and special accounting
activities of the City.
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.
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Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
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.
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 Wisconsin 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 Board provides strategic direction on policies related to the care, maintenance,
and acquisition/disposal of the Museum and Museum property.
DEPARTMENT OF PARKS – The Department of Parks develops and maintains the City’s 440 acres of park and
public areas including recreational facilities, 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 rid es 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.
PUBLIC WORKS DEPARTMENT – The Public Works Department consists of seven separate divisions as
follows:
The Engineering Division is responsible for the design and preparation of drawings and specifications for street
construction and maintenance, sidewalks, sanitary sewers, water mains, storm sewers, as well as construction
management for these projects.
The Street Division provides for maintenance of public roadways/alleys/parking lots, and storm/sanitary sewers
within those streets. Maintenance of storm sewer facilities includes ditching and drainage work.
The Central Garage Division is responsible for repair, maintenance, and service of City vehicles in twelve
departments.
The Sanitation Division provides for collection of solid waste material 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
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Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
and firefighting 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 o f 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 COMMUNITY DEVELOPMENT- The Department of Community Development plays a variety
of roles ion carry out its responsibilit ies through four divisions; Assessment Services, Economic Development,
Inspection Services, and Planning.
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 589 full-time, 102 part-time, and 95 seasonal employees, of which 14 are officials
or administrators, 46 are supervisors/managers, and 245 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 2023. 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 $4,265,639 for
the year ended December 31, 2022.
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.
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Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
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 complie d 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. We would like to express our appreciation to all
members of the Department who assisted and contributed to its preparation. We would 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
RUSSELL VAN GOMPEL, ICMA-CM, Finance Director
HAILEY PALMQUIST, Assistant Director of Finance
JULIE CALMES, CPA, 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
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OSHKOSH, WISCONSIN
The City of Oshkosh was incorporated in 1853 and is the County seat of Winnebago County. It 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 66,816.
Oshkosh is the perfect place for businesses to call home. With an impressive
portfolio of top employers, Oshkosh has the resources that businesses and
entrepreneurs need to reach their goals and find success. Oshkosh is home to
many successful businesses that are powered by the area’s exceptional workforce.
The Oshkosh-Neenah Metropolitan Statistical Area (MSA) has a population of
167,860 according to the U.S. Census reports from 2013. The MSA also has a
civilian labor force size of 81,323, according to the U.S. Bureau of Labor Statistics.
The city plays host to hundreds of local, regional, national and international events each year—Oshkosh is,
after all, Wisconsin’s Event City.
GENERAL GOVERNMENT FUNCTIONS
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.
COUNCIL MEMBERS AND PRINCIPAL OFFICERS
COUNCIL MEMBERS
Name Title
Matt Mugerauer Mayor (2025)
Lynnsey Erickson Deputy Mayor (2024)
Michael Ford Council Member (2024)
Joseph Stephenson Council Member (2025)
Karl Buelow Council Member (2025)
Paul Esslinger Council Member (2025)
LaKeisha D Haase Council Member (2024)
PRINCIPAL OFFICERS
Name Title
Mark A. Rohloff City Manager
Russ Van Gompel Director of Finance
Hailey Palmquist Asst. Director of Finance
Julie Calmes, CPA Asst. Director of Finance
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INDEPENDENT AUDITORS’ REPORT
1
Independent Auditors’ Report
To the Common Council
City of Oshkosh
Oshkosh, Wisconsin
Report on the Audit of the Financial Statements
Opinions
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, as of and for the year ended December 31, 2022, and the related notes to the financial
statements, which collectively comprise City of Oshkosh, Wisconsin’s basic financial statements as listed in the
table of contents.
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 of Oshkosh, Wisconsin, as of
December 31, 2022, and the respective changes in financial position and, where applicable, cash flows thereof for
the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
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. Our responsibilities under those standards are further described in the
Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are required to be
independent of City of Oshkosh, Wisconsin, and to meet our other ethical responsibilities, in accordance with the
relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for 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.
In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about City of Oshkosh, Wisconsin’s ability to continue as
a going concern for twelve months beyond the financial statement date, including any currently known information
that may raise substantial doubt shortly thereafter.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee
that an audit conducted in accordance with generally accepted auditing standards and Government Auditing
Standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
2
To the Common Council
City of Oshkosh, Wisconsin
Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they
would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing
Standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
and design and perform audit procedures responsive to those risks. Such procedures include examining, on a
test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness City of
Oshkosh, Wisconsin’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about City of Oshkosh, Wisconsin’s ability to continue as a going concern for a reasonable
period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified
during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion
and analysis, schedules of employer’s proportionate share of the net pension liability (asset) and employer
contributions - Wisconsin Retirement System, schedules of employer’s proportionate share of the net OPEB liability
and employer contributions – Local Retiree Life insurance Plan, schedule of changes in total OPEB liability and
related ratios, and the schedule of budgetary comparison schedule – general fund as listed in the table of contents,
be presented to supplement the basic financial statements. Such information is the responsibility of management
and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards
Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States of
America, which consisted of inquiries of management about the methods of preparing the information and comparing
the information for consistency with management’s responses to our inquiries, the basic financial statements, and
other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or
provide any assurance on the information because the limited procedures do not provide us with sufficient evidence
to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise
the City of Oshkosh, Wisconsin’s basic financial statements. The financial information listed in the table of contents
as supplementary information is presented for purposes of additional analysis is not a required part of the basic
financial statements. Such 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.
3
To the Common Council
City of Oshkosh, Wisconsin
Supplementary Information (Continued)
The 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.
Other Information
Management is responsible for the other information included in the annual report. The other information comprises
the introductory, statistical sections, and schedules of revenues, expenditures, and changes in fund balances –
budget and actual but does not include the basic financial statements and our auditors’ report thereon. Our opinions
on the basic financial statements do not cover the other information, and we do not express an opinion or any form
of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other information and
consider whether a material inconsistency exists between the other information and the basic financial statements,
or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude
that an uncorrected material misstatement of the other information exists, we are required to describe it in our
report.
Prior Year Summarized Information
We have previously audited the City’s 2021 financial statements, and we expressed unmodified opinions on the
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 report dated September 12,
2022. We also expressed an unmodified opinion on the supplementary information in relation to those basic
financial statements as a whole. In our opinion, the summarized comparative information presented herein as of
and for the year ended December 31, 2021, is consistent, in all material respect, 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 July 25, 2023 on our
consideration of the City of Oshkosh, Wisconsin’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 solely to describe the scope of our testing of internal control over financial reporting and
compliance and results of that testing, and not to provide an opinion on the effectiveness of the City of Oshkosh,
Wisconsin’s 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 of Oshkosh, Wisconsin’s
internal control over financial reporting and compliance.
KerberRose SC
KerberRose SC
Certified Public Accountants
Oshkosh, Wisconsin
July 25, 2023
MANAGEMENT DISCUSSION AND ANALYSIS
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
This discussion and analysis of the financial performance of the City of Oshkosh is intended to provide an
overview of the City’s financial activities for the fiscal year ended December 31, 2022. Readers are
encouraged to consider the information presented here in conjunction with the additional information as
furnished in the letter of transmittal and the financial statements which begin on page i.
Financial Highlights
The assets and deferred outflows of resources of the governmental activities of the City exceeded
its liabilities and deferred inflows of resources by $172,101,980 (net position) as of December 31,
2022. Of this amount, $68,173,719 may be used to meet the City’s ongoing obligations to citizens
and creditors.
During 2022, the City’s governmental activities net position increased by $22,555,835 from 2021,
or approximately 15.08%.
As of December 31, 2022, the City’s governmental funds reported combined ending fund balances
of $106,886,054, an increase of $21,852,794. Approximately 46.41% of this total amount,
$49,603,429 is available for spending at the City’s discretion (assigned and unassigned fund
balance).
At the close of 2022, the unassigned fund balance for the general fund was $19,684,630, or
approximately 39.93% of total general fund expenditures. The general fund unassigned balance
increased by $1,402,789 from 2021.
The City’s total general-obligation debt increased by $14,487,898 (11.88%) during 2022.The key
factor in this increase was the issuance of $30,410,000 of general obligation debt and $15,922,102
of principal payments of general obligation debt.
Overview of the Basic Financial Statements
Management’s Discussion and Analysis serves 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.)
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 human services, culture and recreation, transportation, conservation and development, and Tax
Incremental Funds districts. The business-type activities of the City include mass transit services, water
utility, sewer utility, parking utility, Oshkosh redevelopment project, industrial park, stormwater utility and
inspection services.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
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 72 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
funds which are considered to be major funds. Data from the other 69 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, certain special revenue funds, and the
debt service fund. 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 eight 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 five 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.
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 utility,
water utility, sewer utility, and stormwater utility, all of which are considered to be major funds of the City.
Data from the other four 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 five 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
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
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 $431,397,496 and $396,041,381 at the close of 2022 and 2021,
respectively.
2022 2021 2022 2021 2022 2021
Current and other assets 222,810,417$ 179,535,930$ 132,109,726$ 113,711,674$ 354,920,143$ 293,247,604$
Capital assets 186,437,185 172,879,151 388,450,140 376,631,162 574,887,325 549,510,313
Long-term liabilities outstanding 145,996,812 126,245,855 254,985,149 238,528,467 400,981,961 364,774,322
Net position:
Net investment in capital assets 53,195,094 57,867,428 137,581,623 141,692,794 190,776,717 199,560,222
Restricted 50,733,167 39,045,714 23,162,743 23,124,605 73,895,910 62,170,319
City of Oshkosh's Net Position
December 31, 2022 and 2021
Governmental Activities Business-type Activities Total Primary Government
There was a larger than normal increase in current and other assets between 2021 and 2022. The increase
is mainly due to an increase in general obligation debt issued in 2022. A portion of the general obligation
debt issued in 2022 was borrowed in advance for 2023 capital improvement projects. The debt was
borrowed in advance due to the anticipation of future interest rate increases because of the federal reserve
increasing rates.
By far the largest portion of the City’s net position (44.22%) and (50.39%) for 2022 and 2021, 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 (17.13%) and (15.70%) for 2022 and 2021, respectively,
represents resources that are subject to external restrictions on how they may be used. The remaining
balance of unrestricted net position ($166,724,869) and ($134,310,840) for 2022 and 2021, respectively,
may be used to meet the City’s ongoing obligations to citizens and creditors.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Change in net position. Governmental activities increased the City’s net position by $22,555,835 in 2022
and increased by $19,092,436 in 2021. Business-type activities increased the City’s net position by
$12,800,280 in 2022 and by $10,730,739 in 2021. Total net position of the City increased in 2022 by
$35,356,115 and in 2021 by $29,823,175. Key elements of this change are as follows:
2022 2021 2022 2021 2022 2021
Revenues:
Program Revenues
Charges for Services 17,233,261$ 15,691,016$ 50,389,807$ 47,945,087$ 67,623,068$ 63,636,103$
Operating Grants and Contributions 4,613,635 2,464,359 5,718,652 4,011,307 10,332,287 6,475,666
Capital Grants and Contributions 1,081,183 2,843,820 494,942 458,712 1,576,125 3,302,532
General Revenues
Property and Other Taxes 49,737,317 46,982,023 809,500 809,500 50,546,817 47,791,523
Grants and Contributions Not -
Restricted to Specific Programs 18,667,511 18,015,015 - - 18,667,511 18,015,015
Other 3,225,692 3,444,399 (361,600) 114,513 2,864,092 3,558,912
Total Revenues 94,558,599 89,440,632 57,051,301 53,339,119 151,609,900 142,779,751
Expenses:
General Government 4,988,993 5,875,221 - - 4,988,993 5,875,221
Public Safety 27,051,801 26,527,572 - - 27,051,801 26,527,572
Public Works 12,205,439 13,344,942 - - 12,205,439 13,344,942
Transportation 717,540 691,401 - - 717,540 691,401
Health and Human Services 1,016,550 945,661 - - 1,016,550 945,661
Culture and Recreation 11,850,757 9,633,892 - - 11,850,757 9,633,892
Conservation and Development 11,049,663 10,158,963 - - 11,049,663 10,158,963
Unclassified 487,363 819,412 - - 487,363 819,412
Interest and Fiscal Charges 4,177,258 3,409,132 - - 4,177,258 3,409,132
Transit Utility - - 6,144,767 5,410,888 6,144,767 5,410,888
Water Utility - - 12,067,282 12,757,074 12,067,282 12,757,074
Sewer Utility - - 13,553,819 13,445,130 13,553,819 13,445,130
Storm Water Utility - - 7,699,013 7,275,841 7,699,013 7,275,841
Non Major Funds - - 3,243,540 2,661,447 3,243,540 2,661,447
Total Expenses 73,545,364 71,406,196 42,708,421 41,550,380 116,253,785 112,956,576
Transfers 1,542,600 1,058,000 (1,542,600) (1,058,000) - -
Total Expenses and Transfers 72,002,764 70,348,196 44,251,021 42,608,380 116,253,785 112,956,576
Change in Net Position 22,555,835 19,092,436 12,800,280 10,730,739 35,356,115 29,823,175
Net Position - January 1 149,546,145 130,906,519 246,495,236 235,764,497 396,041,381 366,671,016
Prior Period Adjustment - (452,810) - - - (452,810)
Net Position - January 1, Restated 149,546,145 130,453,709 246,495,236 235,764,497 396,041,381 366,218,206
Net Position - December 31 172,101,980$ 149,546,145$ 259,295,516$ 246,495,236$ 431,397,496$ 396,041,381$
Governmental Activities Business-type Activities Total Primary Government
City of Oshkosh's Change in Net Position
For Years Ended December 31, 2022 and 2021
Total revenues increased by $8,830,149 (6.18%) from 2021 to 2022 largely from an increase in services
provided. Governmental activities charges for services increased by $1,542,245 (9.83)% and business-
type activities charges for services increased by $2,444,720 (5.10%). Property and other taxes increased
by $2,755,294 (5.77%) in 2022 and increased by $3,603,208 (8.2%) in 2021. Total expenses only increased
from 2021 to 2022 by $3,297,209 (2.92%) with the greatest increase from culture and recreation of
$2,216,865 (23.01%) from 2021 to 2022.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
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, 2022 and 2021, the City’s governmental funds reported combined ending fund
balances of $106,886,054 and $85,033,260, an increase of $21,852,794 in 2022 and an increase of
$9,865,733 in 2021. Of the total fund balance, $7,670,380 in 2022 and $6,925,380 in 2021 constitute
unassigned fund balance, which is available for spending at the City’s discretion. The remainder of fund
balance is nonspendable, restricted, committed or assigned to indicate that it is not available for new
spending because it has already been committed as follows:
2022 2021
Nonspendable
Inventories and prepaid items 3,969,099$ 3,881,248$
Restricted for
Tax incremental district development 11,546,889$ 10,363,853$
Debt service 16,995,944 -
Special purposes 7,782,987 7,742,864
Trust agreements 8,336,606 8,553,994
Total restricted 44,662,426$ 26,660,711$
Committed to
Special purposes 8,651,100$ 8,317,413$
Assigned to
Special purposes 80,018$ 712,583$
Construction of assets 41,853,031 38,535,925
Total assigned 41,933,049$ 39,248,508$
City of Oshkosh's Governmental Fund Balances
Details of these fund balance categories can be found in Note 8 – Fund Equity.
The general fund is the chief operating fund of the City. At the end of 2022 and 2021, unassigned fund
balance of the general fund was $19,684,630 and $18,281,841, respectively, while total fund balance
reached $20,087,646 and $19,229,571 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 39.93% and 38.72% of total general fund expenditures.
The fund balance of the City’s general fund increased by $858,075 in 2022. The two sources of this increase
are due to an excess of revenues over expenditures of $159,027 and net interfund transfers of $699,048.
The debt service fund is the driving factor of the increase in total restricted funds. The debt fund has a total
fund balance of $16,995,944 as of December 31, 2022, an increase of $17,873,221 from December 31,
2021. This increase is due to an increase in general obligation debt issued in 2022 for 2023 capital
improvement projects.
The special assessment fund had revenues of $5,918,879 while assigned projects cost a total of
$1,469,142, thereby increasing fund balance to $13,400,811 at year end.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
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 2022 and 2021 amounted to $98,551,150
and $81,677,837, respectively. Net position increased $12,800,280 in 2022 and increased $10,730,739 in
2021. Of the change net position, the larger facets include an increase in net investment in capital assets
for the Transit Utility of $3,160,620 (71.00%) and a 25.50% net increase in unrestricted assets for water,
sewer, and stormwater utilities.
The transit utility received additional federal, state and county aid of $1,707,345 during 2022, increasing
net position by $1,494,824. A decrease in operating expenses of approximately 8% resulted in an increase
in net position of the water utility of $2,072,845. The sewer utility had a volume consumption increase of
6%; resulting in overall revenue growth of 4% and an increase in net position of $3,073,695. The
stormwater utility increase rates April 1, 2021. The rates were in effect for all of 2022 and resulted in
increased revenues of 6%.
General Fund Budgetary Highlights
Generally the original budget is rarely modified.
During 2022 actual revenues were greater than budgeted revenues by $1,320,789, primarily in public
charges for services. Actual expenditures were less than budgeted by $660,238 which left a total budget
unspent of $1,981,027.
During 2021 actual revenues were greater than budgeted revenues by $1,184,338, primarily in public
charges for services. Actual expenditures were less than budgeted by $2,146,463, which left a total budget
unspent of $3,330,801.
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, 2022 and 2021, amounted to $574,887,325 and $549,510,313 (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 $25,377,012 or 4.62% for 2022 and increased by
$13,298,849 or 2.48% for 2021.
Major capital assets acquired or constructed during the years ended 2022 and 2021 include:
The governmental activities include constructed streets in the amount of $1,396,234 and
$7,751,176, purchased land in the amount of $1,164,282 and $1,424,032, vehicles in the amount
of $4,540,951 and $2,271,756, and building improvements and contents in the amount of $701,524
and $161,400, respectively.
The business-type activities purchased additional land and improvements in the amount of
$14,235,768 and $14,235,768, and improvements to water, sewer and stormwater utilities in the
amount of $5,233,033 and $9,721,772, respectively.
2022 2021 2022 2021 2022 2021
Land 23,438,662$ 22,274,380$ 14,235,768$ 14,235,768$ 37,674,430$ 36,510,148$
Construction in progress 6,619,772 1,581,145 5,233,033 9,721,772 11,852,805 11,302,917
Buildings & systems 47,287,878 48,077,513 309,937,330 311,555,643 357,225,208 359,633,156
Infrastructure 72,614,621 71,279,774 - - 72,614,621 71,279,774
Machinery and equipment 36,476,252 29,666,340 59,044,009 41,117,979 95,520,261 70,784,319
Total 186,437,185$ 172,879,151$ 388,450,140$ 376,631,162$ 574,887,325$ 549,510,313$
City of Oshkosh's Capital Assets
Governmental Activities Business-type Activities Total Primary Government
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Long-term debt. At the end of 2022 and 2021, the City had total bonded debt outstanding of $368,520,653
and $336,416,084, respectively. Of this amount, $136,467,213 and $121,979,315, respectively, comprises
debt backed by the full faith and credit of the government. The remainder of the City’s debt represents
bonds secured solely by specified revenue sources (i.e., revenue bonds).
2022 2021 2022 2021 2022 2021
General obligation debt:
Bonds & notes 127,310,640$ 110,372,030$ 9,156,573$ 11,607,285$ 136,467,213$ 121,979,315$
Total general obligation debt 127,310,640 110,372,030 9,156,573 11,607,285 136,467,213 121,979,315
Revenue bonds - - 232,053,440 214,436,769 232,053,440 214,436,769
Total 127,310,640$ 110,372,030$ 241,210,013$ 226,044,054$ 368,520,653$ 336,416,084$
City of Oshkosh's Outstanding Debt
Governmental Activities Business-type Activities Total Primary Government
The City’s total debt increased by $32,104,569 (9.54%) in 2022 and increased by $9,746,841 (2.98%) in
2021. The larger increase in debt is due to the early borrowing in 2022 for 2023 capital improvement projects
due to an anticipation in future interest rate increases. The City maintains an Aa3 rating from Moody’s
Investors Service for its general obligation debt as of December 31, 2022. The water utility and sewer utility
both maintain an Aa3 rating, while the stormwater utility maintains an A1 rating from Moody’s Investors
Service for their respective revenue bonds as of December 31, 2022.
State statutes limit the amount of general obligation debt the City may issue to 5% of its total equalized
valuation. The debt limitation for 2022 and 2021 for the City was $266,812,980 and $241,055,625,
respectively, which is significantly in excess of the City’s $136,467,213 and $121,979,315 outstanding
general obligation debt.
Economic Factors and Next Year’s Budgets and Rates
The City of Oshkosh is located in northeastern Wisconsin along the western shores of Lake Winnebago.
Oshkosh has the resources that business and entrepreneurs need to reach their goals and find success.
Oshkosh is home to many successful businesses that are powered by the area’s exceptional workforce.
The City plays host to hundreds of local, regional, national and international events each year.
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.
The City adopts operating budgets for its governmental funds (General, Special Revenue, Debt Service,
and Capital Projects) and enterprise funds (Transit, Water, Sewer, and Stormwater Utilities). The 2023
fiscal year combined operating budget includes $160 million in projected revenues and $164 million in
projected expenditures and transfers.
Funding for the operating budget of the City is provided from many sources, including property taxes, room
taxes, grants and aids from the State and County, user fees, permits and licenses, fines, and other
miscellaneous revenues. Several revenue sources are more sensitive to economic factors, in particular
building permits, room taxes and investment earnings. The 2023 budget was developed to consider then
current expectations for such revenue sources compared to 2022 actual results, reflecting the economic
outlook at that time coupled with known development projects. Comparatively strong new construction
values provided property tax levy flexibility, which is expected to continue for the 2024 budget.
Expenditures for salaries, which represent the single largest operating cost, continue to be moderate given
the active labor relations efforts. An additional factor limiting such costs was the passage of Wisconsin Act
10 in 2011 which mandated employee payment of pension contributions for most employee groups. All
eligible city employees contributed towards the pension program. The City’s ongoing cost control efforts
towards management of health care costs resulted in no increase in budgeted health care premium
contributions charged to department budgets. The 2023 operating budget does not contain significant major
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
initiatives. Capital budgets maintained an emphasis on enhancing maintenance of City facilities and
infrastructure.
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
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ASSETS
Cash and Investments $ 147,459,847 $ 90,818,666 $ 238,278,513 $ 190,133,992 $267,819
Taxes Receivable 33,423,086 520,413 33,943,499 30,919,095 -
Due from Other Governments - 2,130,747 2,130,747 2,194,742 -
Accounts Receivable 3,587,781 7,280,635 10,868,416 10,150,162 -
Interest Receivable 43,652 - 43,652 29,127 -
Special Assessments 6,803,491 - 6,803,491 4,159,454 -
Loans Receivable 6,047,607 - 6,047,607 5,398,583 -
Other Receivables 3,891 - 3,891 12,928 -
Deposits with GO HNI 213,769 - 213,769 212,933 -
Inventories and Prepaid Items 1,023,293 2,254,368 3,277,661 2,411,090 -
Total Current Assets 198,606,417 103,004,829 301,611,246 245,622,106 267,819
Noncurrent Assets
Restricted Cash and Investments - 20,907,480 20,907,480 21,747,876 -
Asset Held for Resale - 4,447,936 4,447,936 4,447,936 7,672,141
Net Pension Asset 24,204,000 3,749,481 27,953,481 21,429,686 -
Capital Assets - Nondepreciable 30,058,434 19,468,801 49,527,235 47,813,065 -
Capital Assets - Depreciable, Net 156,378,751 368,981,339 525,360,090 501,697,248 -
Total Noncurrent Assets 210,641,185 417,555,037 628,196,222 597,135,811 7,672,141
TOTAL ASSETS 409,247,602 520,559,866 929,807,468 842,757,917 7,939,960
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension 47,336,114 7,332,917 54,669,031 35,635,219 -
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 5,229,652 1,879,421 7,109,073 3,168,789 -
Deferred Charge on Refunding 71,357 110,982 182,339 321,019 -
Total Deferred Outflows of Resources 52,637,123 9,323,320 61,960,443 39,125,027 -
LIABILITIES
Accounts Payable 8,053,538 1,522,497 9,576,035 2,864,884 3,213
Accrued and Other Current Liabilities 3,020,987 1,004,988 4,025,975 5,055,569 -
Accrued Interest Payable 586,849 1,988,116 2,574,965 2,177,380 -
Deposits from Others 1,922,877 20,908 1,943,785 1,869,728 25,000
Current Portion of Compensated Absences 455,117 226,455 681,572 731,018 -
Current Portion of Long-Term Obligations 14,294,902 16,589,472 30,884,374 29,304,443 -
Unearned Revenues:
Grants - 2,853 2,853 1,463 -
American Rescue Plan Act Funds 17,312,024 - 17,312,024 9,300,339 -
Net Other Post-Employment Benefits Liability 9,001,058 3,292,252 12,293,310 10,002,859 -
Compensated Absences 3,682,306 528,398 4,210,704 4,205,353 -
Noncurrent Portion of Long-Term Obligations 119,018,546 234,575,027 353,593,573 321,261,667 -
TOTAL LIABILITIES 177,348,204 259,750,966 437,099,170 386,774,703 28,213
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 52,065,127 809,500 52,874,627 50,247,369 -
Deferred Inflows of Resources Related to Pension 56,981,736 8,827,135 65,808,871 46,949,274 -
Deferred Inflows of Resources Related to
Other Post-Employment Benefits 3,387,678 1,200,069 4,587,747 1,870,217 -
Total Deferred Inflows of Resources 112,434,541 10,836,704 123,271,245 99,066,860 -
NET POSITION
Net Investment in Capital Assets 53,195,094 137,581,623 190,776,717 199,560,222 -
Restricted 50,733,167 23,162,743 73,895,910 62,170,319 -
Unrestricted 68,173,719 98,551,150 166,724,869 134,310,840 7,911,747
TOTAL NET POSITION $ 172,101,980 $ 259,295,516 $ 431,397,496 $ 396,041,381 $ 7,911,747
2021
Type
Business -
Activities
Governmental
Activities
Total
2022
CITY OF OSHKOSH, WISCONSIN
Statement of Net Position
As of December 31, 2022
With Summarized Information from December 31, 2021
Component Unit
Redevelopment
Authority
See Accompanying Notes
4
GOVERNMENTAL ACTIVITIES
General Government $ 4,988,993 $ 923,138 $ 142,724 $-
Public Safety 27,051,801 4,459,089 991,348 -
Public Works 12,205,439 9,916,311 1,278,011 333,447
Transportation 717,540 - - -
Health and Human Services 1,016,550 71,324 90,612 -
Culture and Recreation 11,850,757 834,057 1,230,263 -
Conservation and Development 11,049,663 1,029,342 880,677 747,736
Unclassified 487,363 - - -
Interest and Fiscal Charges 4,177,258 - - -
Total Governmental Activities 73,545,364 17,233,261 4,613,635 1,081,183
BUSINESS-TYPE ACTIVITIES
Transit Utility 6,144,767 1,101,039 5,718,652 -
Water Utility 12,067,282 15,647,894 - 155,072
Sewer Utility 13,553,819 16,454,733 - 202,900
Stormwater Utility 7,699,013 13,116,252 - 136,970
Parking Utility 236,534 108,641 - -
Oshkosh Redevelopment Project 1,993,723 2,416,191 - -
Industrial Park 30,935 26,919 - -
Inspection Services 982,348 1,518,138 - -
Total Business-Type Activities 42,708,421 50,389,807 5,718,652 494,942
TOTAL CITY OF OSHKOSH $ 116,253,785 $ 67,623,068 $ 10,332,287 $ 1,576,125
COMPONENT UNIT
GENERAL REVENUES:
Taxes:
General Property Taxes
Tax Increments
Other Taxes
State and Federal Aids not Restricted to
Specific Functions
Interest and Investment Returns
Gain (Loss) on Property Sales
Miscellaneous
Total General Revenues
TRANSFERS
CHANGE IN NET POSITION
NET POSITION - BEGINNING OF YEAR
NET POSITION - END OF YEAR
Operating Capital
CITY OF OSHKOSH, WISCONSIN
Statement of Activities
For the Year Ended December 31, 2022
Expenses Services Contributions
Grants and Charges for
Contributions
Grants and
With Summarized Information from December 31, 2021
Program Revenues
See Accompanying Notes
5
$ (3,923,131) $- (3,923,131) (4,745,747) -
(21,601,364) - (21,601,364) (21,692,816) -
(677,670) - (677,670) (2,720,302) -
(717,540) - (717,540) (691,401) -
(854,614) - (854,614) (743,313) -
(9,786,437) - (9,786,437) (7,682,979) -
(8,391,908) - (8,391,908) (7,901,899) -
(487,363) - (487,363) (819,412) -
(4,177,258) - (4,177,258) (3,409,132) -
(50,617,285) - (50,617,285) (50,407,001) -
- 674,924 674,924 (607,886) -
- 3,735,684 3,735,684 2,890,614 -
- 3,103,814 3,103,814 2,690,219 -
- 5,554,209 5,554,209 5,132,696 -
- (127,893) (127,893) (99,189) -
- 422,468 422,468 337,890 -
- (4,016) (4,016) (12,507) -
- 535,790 535,790 532,889 -
- 13,894,980 13,894,980 10,864,726 -
(50,617,285) 13,894,980 (36,722,305) (39,542,275) -
43,083,000 809,500 43,892,500 41,952,043 -
6,307,564 - 6,307,564 5,568,977 -
346,753 - 346,753 270,503 -
-
18,667,511 - 18,667,511 18,015,015 -
1,352,673 (380,123) 972,550 1,838,380 -
139,782 18,523 158,305 162,614 (129,090)
1,733,237 - 1,733,237 1,557,918 7,720
71,630,520 447,900 72,078,420 69,365,450 (121,370)
1,542,600 (1,542,600) - - -
22,555,835 12,800,280 35,356,115 29,823,175 (53,663)
149,546,145 246,495,236 396,041,381 366,218,206 7,965,410
$ 172,101,980 $ 259,295,516 $ 431,397,496 $ 396,041,381 7,911,747
Component
Unit
Redevelopment
Authority 2022ActivitiesActivities
Governmental Business-Type
Net (Expense) Revenue
2021
and Changes in Net Position
See Accompanying Notes
6
ASSETS
Cash and Investments $ 28,946,476 $ 21,741,232 $ 15,051,364
Receivables:
Accounts Receivable 2,678,545 - -
Property Taxes 15,048,022 8,535,612 -
Special Assessments - - 6,803,491
Interest Receivable - - -
Loans Receivable - - -
Other Receivable - - 3,891
Deposits with GO HNI - - -
Due from Other Funds - - -
Inventories and Prepaid Items 322,998 - -
TOTAL ASSETS $ 46,996,041 $ 30,276,844 $ 21,858,746
LIABILITIES
Accounts Payable $ 441,511 $ 3,800 $ -
Accrued Liabilities 3,020,987 - -
Due to Other Funds - - -
Deposits from Others 10,397 - 1,551,945
Unearned Revenues
American Rescue Plan Act Funds - - -
Total Liabilities 3,472,895 3,800 1,551,945
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 23,435,500 13,277,100 -
Special Assessments - - 6,905,990
Total Deferred Inflows of Resources 23,435,500 13,277,100 6,905,990
FUND BALANCES
Nonspendable 322,998 - -
Restricted - 16,995,944 -
Committed - - -
Assigned 80,018 - 13,400,811
Unassigned (Deficit) 19,684,630 - -
Total Fund Balances 20,087,646 16,995,944 13,400,811
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $ 46,996,041 $ 30,276,844 $ 21,858,746
General Debt Service
Special
Assessment
Improvement
CITY OF OSHKOSH, WISCONSIN
Balance Sheet
Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
See Accompanying Notes
7
$ 77,410,152 $ 143,149,224 $ 114,708,430
884,475 3,563,020 3,514,777
9,839,452 33,423,086 30,420,947
- 6,803,491 4,159,454
43,652 43,652 29,127
6,047,607 6,047,607 5,398,583
- 3,891 12,928
213,769 213,769 212,933
12,789,527 12,789,527 10,716,781
- 322,998 235,147
$ 107,228,634 $ 206,360,265 $ 169,409,107
$ 5,012,368 $ 5,457,679 $ 2,443,233
- 3,020,987 4,055,569
12,789,527 12,789,527 10,716,781
360,535 1,922,877 1,848,828
17,312,024 17,312,024 9,300,339
35,474,454 40,503,094 28,364,750
15,352,527 52,065,127 49,437,869
- 6,905,990 6,573,228
15,352,527 58,971,117 56,011,097
3,646,101 3,969,099 3,881,248
27,666,482 44,662,426 26,660,711
8,651,100 8,651,100 8,317,413
28,452,220 41,933,049 39,248,508
(12,014,250) 7,670,380 6,925,380
56,401,653 106,886,054 85,033,260
$ 107,228,634 $ 206,360,265 $ 169,409,107
Totals
2022 2021Funds
Governmental
Nonmajor
See Accompanying Notes
8
2022 2021
Total Fund Balances - Governmental Funds 106,886,054$ 85,033,260$
Total net position reported for governmental activities in the statement
of net position is different from the amount reported above as total
governmental funds fund balance because:
Capital assets used in government activities are not financial resources and
therefore are not reported in the fund statements. Amounts reported for
governmental activities in the statement of net position:
Governmental Capital Assets 306,997,919$
Governmental Accumulated Depreciation (120,560,734) 186,437,185 172,879,151
Some receivables that are not currently available are reported as deferred
inflows of resources in the fund financial statements but are recognized as
revenue when earned in the government-wide statements.
Special Assessments 6,905,990 6,573,228
Net pension asset is not usable in the current period therefore not reported in
the fund financial statements 24,204,000 18,513,127
Net position of the internal service funds are reported in the statement of net
position as governmental activities 2,433,995 2,302,020
Some deferred outflows and inflows of resources reflect changes in long-term
liabilities and are not reported in the funds.
Loss on Advance Refunding 71,357 173,236
Deferred Outflows Related to Pension 47,336,114 30,785,301
Deferred Outflows Related to Other Post-Employment Benefits 5,224,610 2,338,663
Deferred Inflows Related to Pension (56,981,736) (40,559,526)
Deferred Inflows Related to Other Post-Employment Benefits (3,383,945) (1,394,157)
Post-employment benefit liability not payable in the current period therefore
not reported in the fund financial statements (8,993,924) (7,422,006)
Noncurrent liabilities, including bonds and notes payable, are not due in the
current period and therefore not reported in the fund statements. Noncurrent
liabilities reported in the statement of net position that are not reported in the
funds balance sheet
General Debt (127,310,640) (110,372,030)
Premium/Discount on Debt Issued (6,002,808) (4,812,929)
Accrued Interest on General Obligation Debt (586,849) (407,109)
Vested Employee Benefits (4,137,423) (4,084,084)
Total Net Position - Governmental Activities 172,101,980$ 149,546,145$
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2021
As of December 31, 2022
Governmental Funds to the Statement of Net Position
Reconciliation of the Balance Sheet
See Accompanying Notes
9
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REVENUES
Taxes $ 22,570,153 $ 12,733,500 $-
Special Assessments - - 5,918,879
Intergovernmental 16,789,755 - -
Licenses and Permits 808,548 - -
Fines, Forfeitures and Penalties 573,152 - -
Charges for Services 4,350,057 - -
Intergovernmental Charges for Services 3,125,718 - -
Investment Income 617,077 202,470 -
Donations - - -
Miscellaneous 625,029 - -
Total Revenues 49,459,489 12,935,970 5,918,879
EXPENDITURES
Current:
General Government 7,337,929 - -
Public Safety 31,205,746 - -
Public Works 5,087,553 - 35,638
Transportation 717,540 - -
Health and Human Services - - -
Culture and Recreation 2,446,274 - -
Conservation and Development 2,009,205 - -
Unclassified 487,363 - -
Debt Service:
Principal - 9,881,098 1,120,000
Interest and Fiscal Charges - 3,376,575 313,504
Capital Outlay 8,852 - -
Total Expenditures 49,300,462 13,257,673 1,469,142
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 159,027 (321,703) 4,449,737
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - 16,459,100 -
Debt Premium - 1,735,824 -
Sale of Capital Assets - --
Transfers In 1,542,600 - -
Transfers Out (843,552) - -
Total Other Financing Sources (Use)699,048 18,194,924 -
NET CHANGE IN FUND BALANCES 858,075 17,873,221 4,449,737
FUND BALANCES (DEFICIT) - BEGINNING 19,229,571 (877,277) 8,951,074
FUND BALANCES - ENDING $ 20,087,646 $ 16,995,944 $ 13,400,811
General
Debt Service
Fund
Special
Assessment
Improvement
CITY OF OSHKOSH, WISCONSIN
Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit)
Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information from December 31, 2021
See Accompanying Notes
10
$ 14,433,664 $ 49,737,317 $ 47,092,045
140,610 6,059,489 5,146,172
5,139,118 21,928,873 22,689,628
131,622 940,170 846,865
- 573,152 604,003
1,851,913 6,201,970 5,940,274
- 3,125,718 3,535,484
169,116 988,663 1,195,531
2,110,151 2,110,151 730,690
1,890,047 2,515,076 2,180,027
25,866,241 94,180,579 89,960,719
676,374 8,014,303 6,582,541
594,724 31,800,470 29,833,547
4,409,349 9,532,540 10,605,143
- 717,540 691,401
1,027,238 1,027,238 975,653
8,525,901 10,972,175 9,106,795
7,158,716 9,167,921 8,199,702
- 487,363 819,412
2,470,292 13,471,390 21,193,791
307,865 3,997,944 3,698,380
16,837,878 16,846,730 10,779,050
42,008,337 106,035,614 102,485,415
(16,142,096) (11,855,035) (12,524,696)
13,950,900 30,410,000 20,330,000
- 1,735,824 1,359,700
44,405 44,405 30,729
986,052 2,528,652 3,249,418
(167,500) (1,011,052) (2,579,418)
14,813,857 33,707,829 22,390,429
(1,328,239) 21,852,794 9,865,733
57,729,892 85,033,260 75,167,527
$ 56,401,653 $ 106,886,054 $ 85,033,260
Nonmajor
Governmental
Funds 2021
Total
2022
See Accompanying Notes
11
2022 2021
Net Changes in Fund Balances - Total Governmental Funds 21,852,794$ 9,865,733$
activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement
of activities the cost of those assets is allocated over their estimated useful lives and
reported as depreciation expense.
Capital Outlay reported in governmental fund statements 27,423,056$
Depreciation expense reported in the statement of activities (13,469,605)
Amount by which capital outlays are greater than depreciation in
the current period.13,953,451 3,763,968
The City disposed of assets resulting in a reduction of capital assets and recapture of
prior year depreciation expense reported on the statement of activities as a net loss
and has no affect on the governmental funds balance sheet.
The value of capital assets disposed of during the year (8,963,361)
The amount of depreciation recapture for the year 8,567,944
Amount by which capital disposals are more than depreciation recapture in the
current period (395,417) -
Amounts related to the pension plan that affect the statement of activities but do not
affect the fund financial statements.5,819,476 5,704,439
Amounts related to the other post-employment benefit that affect the statement of
activities but do not affect the fund financial statements.(675,759) 133,107
Revenues in the statement of activities that do not provide current financial resources
are not reported as revenue in the funds.
Special Assessments 332,762 (555,235)
Vested employee benefits are reported in the government funds when amounts are
paid. The statement of activities reports the value of benefits earned during the year.
This year the accrual of these benefits was (more) less than the amount paid.(53,339) 245,174
Repayment of principal on long-term debt is reported in the governmental funds as an
expenditure, but is reported as a reduction in long-term debt in the statement of net
position and does not affect the statement of activities. The amount of long-term debt
principal payments in the current year is:13,471,390 21,193,791
Debt incurred in governmental funds is reported as an other financing source, but is
reported as an increase in outstanding long-term debt in the statement of net position,
and does not affect the statement of activities.
Long-term Debt Issued (30,410,000) (20,330,000)
Premium on Debt Issued (1,735,824) (1,359,700)
Interest payments on outstanding debt are reported in the governmental funds as an
expenditure when paid, in the statement of activities interest is reported as it accrues.(179,740) (41,987)
Discounts, loss on advance refundings and premiums on debt issued are recorded
and are amortized over the life of the related debt issue in the governmental activties
financial statements.444,066 331,236
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.131,975 141,910
Change in Net Position - Governmental Activities 22,555,835$ 19,092,436$
CITY OF OSHKOSH, WISCONSIN
Amounts reported for governmental activities in the statement of
With Summarized Information from December 31, 2021
For the Year Ended December 31, 2022
Governmental Funds to the Statement of Activities
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) -
See Accompanying Notes
12
THIS PAGE LEFT BLANK INTENTIONALLY
ASSETS
Current Assets:
Cash and Investments $759,199 $22,766,115 $34,237,183 $30,439,373
Accounts Receivable 166,659 2,181,803 2,858,885 1,813,725
Property Taxes Levied for Subsequent Year 520,413 - - -
Due from Other Funds - - - -
Due from Other Governments 2,130,747 - - -
Prepaid Items 296,098 368,029 394,233 117,603
Inventories 90,428 971,261 - -
Total Current Assets 3,963,544 26,287,208 37,490,301 32,370,701
Noncurrent Assets:
Restricted Cash - 6,156,076 7,548,966 7,202,438
Asset Held for Resale - - - -
Net Pension Asset 834,527 1,115,132 1,072,612 415,703
Land 367,811 141,277 301,288 8,390,975
Construction Work in Progress 57,582 2,017,214 1,653,636 1,504,601
Buildings and Improvements 4,805,608 - - 13,471,047
Infrastructure 414,398 120,406,801 158,493,734 124,199,125
Machinery and Equipment 13,714,659 53,547,573 40,902,349 2,182,861
Accumulated Depreciation (10,957,640) (63,564,968) (70,272,992) (25,928,039)
Total Noncurrent Assets 9,236,945 119,819,105 139,699,593 131,438,711
TOTAL ASSETS 13,200,489 146,106,313 177,189,894 163,809,412
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charge on Advance Refunding - 37,512 73,470 -
Deferred Outflows of Resources Related to Pension 1,632,097 2,180,881 2,097,724 812,996
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 525,611 521,528 497,593 185,019
Total Deferred Outflows of Resources 2,157,708 2,739,921 2,668,787 998,015
CURRENT LIABILITIES
Accounts and Claims Payable 247,377 384,614 259,737 68,591
Accrued Liabilities - 1,004,988 - -
Accrued Interest 3,296 876,308 539,476 540,200
Due to Other Funds - - - -
Deposits from Others - 2,508 13,400 -
Unearned Revenue 2,535 - - -
Compensated Absences 40,637 82,444 65,517 23,508
Current Portion of Long-Term Obligations 110,000 4,808,901 5,786,502 5,655,000
Total Current Liabilities 403,845 7,159,763 6,664,632 6,287,299
NONCURRENT LIABILITIES
Net Other Post-Employment Benefits Liability 915,461 909,945 892,155 326,415
Compensated Absences 94,820 192,371 152,872 54,852
Noncurrent Portion of Long-Term Obligations 680,000 56,617,953 90,282,799 85,951,771
Total Noncurrent Liabilities 1,690,281 57,720,269 91,327,826 86,333,038
TOTAL LIABILITIES 2,094,126 64,880,032 97,992,458 92,620,337
DEFERRED INFLOWS OF RESOURCES
Property Taxes Levied for Subsequent Period 809,500 - - -
Deferred Inflows of Resources Related to Pension 1,964,667 2,625,276 2,525,174 978,659
Deferred Inflows of Resources Related to
Other Post-Employment Benefits 337,214 334,112 311,526 117,442
Total Deferred Inflows of Resources 3,111,381 2,959,388 2,836,700 1,096,101
NET POSITION
Net Investment in Capital Assets 7,612,418 51,158,555 35,082,184 32,213,799
Restricted 501,957 6,826,813 8,194,128 7,452,478
Unrestricted 2,038,315 23,021,446 35,753,211 31,424,712
TOTAL NET POSITION $10,152,690 $81,006,814 $79,029,523 $71,090,989
Transit Utility Water Utility Sewer Utility
Stormwater
Utility
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2021
As of December 31, 2022
Proprietary Funds
Statement of Net Position
See Accompanying Notes
13
$2,616,796 $90,818,666 $73,170,085 $4,310,623 $2,255,477
259,563 7,280,635 6,635,385 24,761 -
- 520,413 498,148 - -
1,240,829 1,240,829 1,145,768 1,719,923 474,431
- 2,130,747 2,194,742 - -
16,716 1,192,679 1,300,604 75,000 75,000
- 1,061,689 800,339 625,295 -
4,133,904 104,245,658 85,745,071 6,755,602 2,804,908
- 20,907,480 21,747,876 - -
4,447,936 4,447,936 4,447,936 - -
311,507 3,749,481 2,916,559 - -
5,034,417 14,235,768 14,235,768 - -
- 5,233,033 9,721,772 - -
8,396,796 26,673,451 25,344,212 - -
3,447,323 406,961,381 385,009,652 - -
1,588,493 111,935,935 108,770,750 - -
(5,865,789) (176,589,428) (166,450,992) - -
17,360,683 417,555,037 405,743,533 - -
21,494,587 521,800,695 491,488,604 6,755,602 2,804,908
- 110,982 147,783 - -
609,219 7,332,917 4,849,918 - -
149,670 1,879,421 828,873 5,042 1,253
758,889 9,323,320 5,826,574 5,042 1,253
562,178 1,522,497 398,547 2,595,859 23,104
- 1,004,988 1,000,000 - -
28,836 1,988,116 1,770,271 - -
1,240,829 1,240,829 1,145,768 1,719,923 474,431
5,000 20,908 20,900 - -
318 2,853 1,463 - -
14,349 226,455 280,454 - -
229,069 16,589,472 15,824,443 - -
2,080,579 22,596,118 20,441,846 4,315,782 497,535
248,276 3,292,252 2,575,483 7,134 5,370
33,483 528,398 571,833 - -
1,042,504 234,575,027 219,556,708 - -
1,324,263 238,395,677 222,704,024 7,134 5,370
3,404,842 260,991,795 243,145,870 4,322,916 502,905
- 809,500 809,500 - -
733,359 8,827,135 6,389,748 - -
99,775 1,200,069 474,824 3,733 1,236
833,134 10,836,704 7,674,072 3,733 1,236
11,514,667 137,581,623 141,692,794 - -
187,367 23,162,743 23,124,605 - -
6,313,466 98,551,150 81,677,837 2,433,995 2,302,020
$18,015,500 $259,295,516 $246,495,236 $2,433,995 $2,302,020
Totals
Governmental Activities - Internal
Service Funds
2022 20212022 2021Nonmajor Funds
See Accompanying Notes
14
OPERATING REVENUES
Charges for Services $ 1,045,415 $ 15,424,468 $ 16,447,544 $ 13,113,817
Taxes - - - -
Fines, Forfeitures and Penalties - - - -
Other Operating Revenues 55,624 223,426 7,189 2,435
Total Operating Revenues 1,101,039 15,647,894 16,454,733 13,116,252
OPERATING EXPENSES
Operation and Maintenance 5,321,475 6,474,513 6,542,630 2,162,248
Depreciation 775,224 3,718,527 4,084,676 2,528,613
Taxes - 148,385 184,285 71,497
Claims and Administration - - - -
Total Operating Expenses 6,096,699 10,341,425 10,811,591 4,762,358
OPERATING INCOME (LOSS)(4,995,660) 5,306,469 5,643,142 8,353,894
NONOPERATING REVENUES (EXPENSES)
General Property Taxes 809,500 - - -
Gain on Disposal of Capital Assets 10,400 5,744 1,299 1,080
Nonoperating Grants 5,718,652 - - -
Investment Income - (125,983) (31,418) (222,722)
Interest Expense (48,068) (1,725,857) (2,742,228) (2,936,655)
Total Nonoperating Revenues (Expenses)6,490,484 (1,846,096) (2,772,347) (3,158,297)
INCOME (LOSS) BEFORE
CONTRIBUTIONS AND TRANSFERS 1,494,824 3,460,373 2,870,795 5,195,597
TRANSFERS IN - - - -
TRANSFERS OUT - (1,542,600) - -
CAPITAL CONTRIBUTIONS - 155,072 202,900 136,970
CHANGE IN NET POSITION 1,494,824 2,072,845 3,073,695 5,332,567
NET POSITION - BEGINNING 8,657,866 78,933,969 75,955,828 65,758,422
NET POSITION - ENDING $10,152,690 $81,006,814 $79,029,523 $71,090,989
Transit Utility Sewer Utility
CITY OF OSHKOSH, WISCONSIN
Water Utility
Stormwater
Utility
With Summarized Information from December 31, 2021
For the Year Ended December 31, 2022
Proprietary Funds
Statement of Revenues, Expenses and Changes in Net Position
See Accompanying Notes
15
$ 1,613,874 $ 47,645,118 $ 45,714,491 $ 14,274,527 $ 977,999
2,337,753 2,337,753 1,800,580 - -
12,905 12,905 13,803 - -
105,357 394,031 416,213 457,416 -
4,069,889 50,389,807 47,945,087 14,731,943 977,999
2,887,865 23,388,731 22,408,025 - -
307,259 11,414,299 11,367,224 - -
- 404,167 393,570 - -
- - - 14,625,821 1,228,506
3,195,124 35,207,197 34,168,819 14,625,821 1,228,506
874,765 15,182,610 13,776,268 106,122 (250,507)
- 809,500 809,500 - -
- 18,523 44,258 - -
- 5,718,652 4,011,307 - -
- (380,123) 70,255 853 4,418
(48,416) (7,501,224) (7,381,561) - -
(48,416) (1,334,672) (2,446,241) 853 4,418
826,349 13,847,938 11,330,027 106,975 (246,089)
- - - 755,299 388,000
- (1,542,600) (1,058,000) (730,299) -
- 494,942 458,712 - -
826,349 12,800,280 10,730,739 131,975 141,911
17,189,151 246,495,236 235,764,497 2,302,020 2,160,109
$18,015,500 $259,295,516 $246,495,236 $2,433,995 $2,302,020
2022 2021 2022 2021
Governmental Activities - Internal
Service Funds
Nonmajor Funds
Totals
See Accompanying Notes
16
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers $ 1,081,219 $ 15,530,188 $ 16,101,917 $ 12,994,660
Cash Paid To Suppliers (2,236,727) (3,215,439) (3,271,684) (875,329)
Cash Paid to Employees For Wages and Benefits (2,941,647) (3,499,455) (3,507,636) (1,337,289)
Net Cash Flows From Operating Activities (4,097,155) 8,815,294 9,322,597 10,782,042
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
General Property Taxes 787,235 - - -
Intergovernmental Revenues 5,782,647 - - -
Transfer from (to) Other Funds - (1,542,600) - -
Net Cash Flows From Noncapital Financing Activities 6,569,882 (1,542,600) - -
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of Capital Assets (3,825,844) (5,922,715) (8,517,771) (4,496,602)
Capital Assets Salvaged - - - -
Sale of Capital Assets 10,400 5,744 1,299 1,080
Capital Contributions - 155,072 202,900 136,970
Principal Payments on Long-Term Debt (110,000) (4,539,223) (5,379,106) (5,500,000)
Proceeds from Long-Term Debt - 8,315,000 14,270,000 8,405,000
Premiums Received on Long-Term Debt - 313,801 578,919 411,124
Interest and Fiscal Charges (48,627) (1,817,850) (2,864,113) (3,136,474)
Net Cash Flows From Capital and
Related Financing Activities (3,974,071) (3,490,171) (1,707,872) (4,178,902)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Return - (125,983) (31,418) (222,722)
(1,501,344) 3,656,540 7,583,307 6,380,418
2,260,543 25,265,651 34,202,842 31,261,393
$ 759,199 $ 28,922,191 $ 41,786,149 $ 37,641,811
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 759,199 $ 22,766,115 $ 34,237,183 $ 30,439,373
Restricted Cash and Investments - 6,156,076 7,548,966 7,202,438
Total Reconciliation of Cash Accounts $ 759,199 $ 28,922,191 $ 41,786,149 $ 37,641,811
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss) $ (4,995,660) $ 5,306,469 $ 5,643,142 $ 8,353,894
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Depreciation 775,224 3,718,527 4,084,676 2,528,613
Meter Depreciation Charged to Sewer - 125,591 (125,591) -
Changes in Assets and Liabilities:
Accounts Receivable (19,820) (117,706) (352,816) (121,592)
Prepaid Items 25,379 34,713 36,321 10,080
Inventories 21,015 (402,105) 63,926 55,814
Accounts and Claims Payable 195,826 305,588 162,607 59,116
Accrued Liabilities - 4,988 - -
Unearned Revenue 1,555 - - -
Deposits from Others - 8 - -
Compensated Absences (25,705) (3,829) (26,997) (42,481)
Net Pension Asset (186,796) (279,143) (216,275) (89,577)
Deferred Outflows Related to Pension (554,992) (790,723) (673,730) (270,684)
Deferred Inflows Related to Pension 545,585 793,748 649,067 264,165
Net OPEB Liability 212,023 210,927 159,928 65,475
Deferred Outflows Related to OPEB (298,624) (296,849) (259,468) (100,430)
Deferred Inflows Related to OPEB 207,835 205,090 177,807 69,649
Net Cash Flows From
Operating Activities $(4,097,155) $8,815,294 $9,322,597 $10,782,042
CITY OF OSHKOSH, WISCONSIN
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2022
With Summarized Information from December 31, 2021
Transit Utility
CASH AND INVESTMENTS - ENDING
CHANGE IN CASH AND INVESTMENTS
Stormwater
Utility
CASH AND INVESTMENTS - BEGINNING
Sewer UtilityWater Utility
See Accompanying Notes
17
$ 4,036,573 $ 49,744,557 $ 48,089,990 $ 14,707,182 $ 977,999
(1,497,682) (11,096,861) (11,285,744) (12,630,146) (1,265,132)
(1,017,601) (12,303,628) (11,593,852) (47,743) (50,542)
1,521,290 26,344,068 25,210,394 2,029,293 (337,675)
- 787,235 1,120,852 - -
- 5,782,647 3,352,505 - -
- (1,542,600) (1,058,000) 25,000 388,000
- 5,027,282 3,415,357 25,000 388,000
(470,345) (23,233,277) (20,902,105) - -
- - 5,905 - -
- 18,523 38,353 - -
- 494,942 458,712 - -
(295,712) (15,824,041) (18,998,966) - -
- 30,990,000 29,610,000 - -
- 1,303,844 1,926,184 - -
(65,969) (7,933,033) (7,668,398) - -
(832,026) (14,183,042) (15,530,315) - -
- (380,123) 70,255 853 4,418
689,264 16,808,185 13,165,691 2,055,146 54,743
1,927,532 94,917,961 81,752,270 2,255,477 2,200,734
$ 2,616,796 $ 111,726,146 $ 94,917,961 $ 4,310,623 $ 2,255,477
$ 2,616,796 $ 90,818,666 $ 73,170,085 $ 4,310,623 2,255,477
- 20,907,480 21,747,876 - -
$ 2,616,796 $ 111,726,146 $ 94,917,961 $ 4,310,623 $ 2,255,477
$ 874,765 $15,182,610 $13,776,268 $106,122 $(250,507)
307,259 11,414,299 11,367,224 - -
- - - - -
(33,316)(645,250) 144,904 (24,761) -
1,432 107,925 96,185 - (75,000)
- (261,350) (24,985) (625,295) -
400,813 1,123,950 55,457 2,572,755 (9,054)
- 4,988 - - -
(165)1,390 (3,155) - -
- 8 310 - -
1,578 (97,434) (304,365) - -
(61,131)(832,922) (1,360,854) - -
(192,870)(2,482,999) (1,228,587) - -
184,822 2,437,387 1,632,950 - -
68,416 716,769 1,270,515 1,764 (2,605)
(95,177)(1,050,548) (357,958) (3,789) 692
64,864 725,245 146,485 2,497 (1,201)
$1,521,290 $26,344,068 $25,210,394 $2,029,293 $(337,675)
Governmental Activities - Internal
Service Funds
2022 2021
Nonmajor
2021
Totals
Funds 2022
See Accompanying Notes
18
ASSETS
Cash and Investments $ 25,641,361 $ 25,918,388
Taxes Receivable 46,219,074 41,506,843
Other Receivables - -
Total Assets 71,860,435 67,425,231
LIABILITIES
Due to Other Taxing Entities 71,846,508 67,405,878
Accounts Payable 13,927 19,353
Total Liabilities 71,860,435 67,425,231
NET POSITION
CITY OF OSHKOSH, WISCONSIN
2022 2021
As of December 31, 2022
Fiduciary Fund
Statement of Fiduciary Net Position
With Summarized Information from December 31, 2021
Custodial Funds
See Accompanying Notes
19
ADDITIONS
Taxes Collected on Behalf of Other Taxing Entities $ 49,411,485 $ 46,073,361
DEDUCTIONS
Taxes Remitted to Other Taxing Entities 49,411,485 46,073,361
CHANGE IN NET POSITION - -
NET POSITION - BEGINNING - -
NET POSITION - ENDING
Statement of Changes in Fiduciary Net Position
CITY OF OSHKOSH, WISCONSIN
2022 2021
With Summarized Information from December 31, 2021
For the Year Ended December 31, 2022
Fiduciary Fund
Custodial Funds
See Accompanying Notes
20
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
21
Note 1 - Summary of Significant Accounting Policies
This summary of significant accounting policies of the City of Oshkosh, Wisconsin (City) is presented to assist in
understanding the City’s financial statements. The financial statements and notes are representations of the City’s
management who is responsible for the integrity and objectivity of the financial statements. These accounting policies
conform to generally accepted accounting principles (GAAP) and have been consistently applied in the preparation of
the financial statements. The Governmental Accounting Standards Board (GASB) is the accepted standards setting
body for establishing governmental accounting and financial reporting principles.
Reporting Entity
The City is a municipal corporation governed by an elected seven-member council. In accordance with generally
accepted accounting principles (GAAP), the financial statements are required to include the City (the primary
government) and any separate component units that have a significant operational or financial relationship with the City.
The City has identified the following component unit that is required to be included in the basic financial statements in
accordance with the standards.
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.
City officials are responsible for appointing the board members of an other organization of the City of Oshkosh, but the
City’s accountability of this organization does not extend beyond making the appointments. The City is not financially
accountable for this organizations as defined by standards in GASB Statement No. 61. Therefore, this organization is
not included in the City’s reporting entity. The City appoints some or all of the members of the following organization:
Oshkosh Housing Authority
Government-Wide and Fund Financial Statements
Government-Wide 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 activities of the City except those that are fiduciary. Governmental activities, which normally
are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which
rely to a significant extent on fees and charges for 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, 2) grants and contributions that are restricted to meeting the
operational requirements of a particular function, and 3) capital grants and contributions. Taxes and other items not
properly included among program revenues are reported instead as general revenues.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements.
Exceptions to this general rule are other charges between the City’s enterprise funds 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.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
22
Note 1 - Summary of Significant Accounting Policies (Continued)
Government-Wide and Fund Financial Statements (Continued)
Fund Financial Statements
Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds.
Governmental funds include general, special revenue, capital projects and debt service funds. Proprietary funds include
enterprise funds and internal service funds. Major individual governmental funds and major individual enterprise funds
are reported as separate columns in the fund financial statements.
Fund financial statements of the reporting entity are organized into individual funds each of which are considered to be
separate accounting entities. Each fund is accounted for by providing a separate set of self-balancing accounts which
constitute its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund equity, revenues, and
expenditures/expenses.
Funds are organized as major funds or non-major funds within the governmental and proprietary statements. An
emphasis is placed on major funds within the governmental and proprietary categories. A fund is considered major if it
is the primary operating fund of the City or meets the following criteria:
a. Total assets plus deferred outflows of resources, liabilities plus deferred inflows of resources, revenues, or
expenditures/expenses of that individual governmental or proprietary fund are at least 10 percent of the
corresponding total for all funds of that category or type and
b. The same element that met the 10 percent criterion in (a) is at least 5 percent of the corresponding element total
for all governmental and proprietary funds combined.
c. In addition, any other governmental fund that the City believes is particularly important to financial statement
users may be reported as a major fund.
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 enterprise funds are charges to
customers for services. Operating expenses for enterprise funds include the cost of services, administrative expenses,
and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating
revenues and expenses.
Governmental Funds
Governmental funds are identified as either general, debt service, special revenue, capital projects or trust funds based
upon the following guidelines:
General Fund
The general fund is the primary operating fund of the City and is always classified as a major fund. It is used to
account for all financial resources except those required to be accounted for in another fund.
Special Revenue Funds
Special revenue funds are used to account for the specific revenue sources (other than major capital projects) that
are legally restricted to expenditures for specific purposes.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
23
Note 1 - Summary of Significant Accounting Policies (Continued)
Government-Wide and Fund Financial Statements (Continued)
Governmental Funds (Continued)
Permanent Funds
Permanent funds are used to account for the specific revenue sources (other than major capital projects) that are
legally restricted to expenditures for specific donor purposes.
Debt Service Funds
Debt service funds are used to account for the accumulation of resources for, and the payment of, general long-term
principal, interest, and related costs.
Capital Projects Funds
Capital projects funds are used to account for financial resources to be used for the acquisition or construction of
major capital facilities (other than those financed by proprietary funds).
The City reports the following major governmental funds:
General Fund
This is the City’s primary operating fund. It accounts for all financial resources of the general government, except
those required to be accounted for in another fund.
Debt Service Fund
This fund accounts for the resources accumulated and payments made for principal and interest on long-term
general obligation debt of governmental funds, except debt issued to finance project plan expenditures of the City’s
tax incremental financing districts.
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.
Enterprise Funds
The City reports the following major enterprise funds:
Transit Utility
This is the City’s fund to account for operations of the City bus transit system. Financing is provided through user
fees, federal and state grants and general property taxes.
Water Utility
This is the City’s fund to account for the operations of the City-owned water facilities.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
24
Note 1 - Summary of Significant Accounting Policies (Continued)
Government-Wide and Fund Financial Statements (Continued)
Sewer Utility
This is the City’s fund to account for the operations of the City-owned sewage facilities.
Storm Water Utility
This is the City’s fund to account for the operations of the City-owned storm water services to City residents, business
entities and public authorities.
Additionally, the City reports the following fund type:
Internal service funds account for the financing of goods and services provided by one department to other
city departments or to other governments on a cost reimbursement basis. The City has created internal
service funds for health insurance, worker’s compensation, field operations, police and fire pensions.
Fiduciary Funds
The City follows the presentation requirements of accounting principles generally accepted in the United States of
America as prescribed by the Government Accounting Standards Board and GASB Statement No. 84, Fiduciary
Activities. This statement revised the criteria on whether the government is controlling the assets of the fiduciary
activity and the beneficiaries with whom a fiduciary relationship exists. An activity meeting the criteria should present
a statement of fiduciary net position and a statement of changes in fiduciary net position. Four types of fiduciary
funds that should be reported, if applicable, include pension (and other employee benefit) trust funds, investment
trust funds, private-purpose trust funds, and custodial funds.
The City reports the following custodial fund:
Tax Collection Fund
This fund accounts for taxes and deposits collected by the City, acting in the capacity of a custodian, for distribution
to other governmental units or designated beneficiaries.
Measurement Focus And Basis Accounting
The government-wide financial statements, proprietary fund statements and fiduciary fund statements are reported
using the economic resources measurement focus and the accrual basis of accounting. 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 Financial Statements
December 31, 2022
25
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity
Cash and Investments
Cash and investments are combined. Cash deposits consist of demand and time deposits with financial institutions
and are carried at cost. For purpose 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.
The City categories the fair value measurement of its investments based on the hierarchy established by generally
accepted accounting principles. The fair value hierarchy, which has three levels, is based on the valuation inputs
used to measure an asset’s fair value: Level 1 inputs are quoted prices in active markets for identical assets; Level
2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.
Restricted Cash
Enterprise Funds - Cash has been set aside to provide for debt service of the water, sewer and stormwater utilities
and replacement of certain water and sewer utilities plant equipment.
Accounts Receivable
Accounts receivables are recorded at their gross amount with uncollectible amounts being recognized under the
direct write-off method. The receivable associated with ambulance billings has been shown net of an allowance of
$1,574,678.
Delinquent personal property taxes remain the collection responsibility of the City. The City is able to recover a
portion of these delinquent personal property taxes from other taxing jurisdictions.
The City has received federal and state grants for rehabilitation and business development loan programs provided
to area businesses and homeowners. A loan receivable is recorded when loan funds are disbursed to area
businesses or homeowners. 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.
Inventories
Inventories of governmental fund types are offset by a nonspendable fund balance to indicate they do not represent
spendable available financial resources.
Inventories of governmental and proprietary fund types are recorded at cost, which approximates market, using the
first-in, first-out method of valuation. The cost is recorded as an expenditure/expense at the time individual inventory
items are consumed rather than when purchased.
Prepaid Items
Payments made to vendors that will benefit periods beyond the end of the current fiscal year are recorded as prepaid
items.
Prepaid items of governmental fund types in the fund financial statements are offset by a nonspendable fund balance
to indicate that they do not represent spendable available financial resources.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
26
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets, are reported in the applicable
governmental or business-type activities columns in the government-wide financial statements. Capital assets are
defined by the City as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess
of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed.
Donated capital assets are recorded at estimated acquisition cost at the date of donation.
In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital
outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations
are accounted for the same as in the government-wide statements.
The costs of normal maintenance and repairs that do not add to the value of the assets or materially extend asset
lives are not capitalized.
Property, plant and equipment of the City is depreciated using the straight-line method over the following estimated
useful lives:
Years
Governmental Business-Type
Assets Activities Activities
Buildings and Improvements 30 – 80 25 – 88
Machinery and Equipment 5 – 16 5 – 25
Infrastructure 15 – 20 40 – 75
Compensated Absences
It is the City’s policy to permit employees to accumulate earned but unused vacation, sick leave, and other benefits
at various rates depending on classification and length of service. Terminated employees are paid their unused
balances based on their current salary rates. All vacation and sick leave is accrued when incurred in the
government-wide and proprietary fund financial statements. In the governmental funds, accrued vacation and sick
pay are recognized as expenditures when liquidated with expendable available financial resources.
Deferred Outflows of Resources and Deferred Inflows of Resources
In addition to assets, the balance sheet and/or statement of net position will sometimes report a separate section
for deferred outflows of resources. This separate financial statement element, deferred outflows of resources,
represents a consumption of net position that applies to a future period(s) and so will not be recognized as an
outflow of resources (expense/expenditure) until then. The City has three items that qualify for reporting in this
category. Accordingly, deferred outflows of resources related to pension, deferred outflows are resources related
to other post-employment benefits and deferred charge on refunding are reported in the statement of net
position.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
27
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Deferred Outflows of Resources and Deferred Inflows of Resources (Continued)
In addition to liabilities, the balance sheet and/or statement of net position will sometimes report a separate
section for deferred inflows of resources. The separate financial statement element, deferred inflows of
resources, represents an acquisition of net position or fund balance that applies to a future period(s) and so will
not be recognized as an inflow of resources (revenue) until that time. The City has four types of deferred inflows
of resources, one which arises under both modified accrual and the full accrual basis of accounting, one that
only arises under the modified accrual basis of accounting on the governmental funds balance sheet and two
that arise under the full accrual basis of accounting. Taxes levied for the subsequent period have not met the
time requirement to be recognized as an acquisition of resources and is therefore reported as deferred inflows
of resources on both the governmental funds balance sheet and the governmental activities statement of net
position. The governmental funds report unavailable revenues from special assessments. These amounts are
deferred and recognized as an inflow of resources in the period that the amounts become available. Deferred
inflows of resources related to pension and deferred inflows of resources related to other post-employment
benefits are reported in the statement of net position.
Long-Term Obligations
In the government-wide financial statements and proprietary fund types fund financial statements, long-term debt
and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type
activities, or proprietary fund type statement of net 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.
In the fund financial statements, governmental fund types recognize bond premiums and discounts 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.
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”
on the balance sheet.
Interfund Transactions
During the course of normal operations, the City has various transactions between funds, including expenditures
and transfers of resources to provide services, construct assets and service debt. The governmental funds generally
record such transactions as operating transfers if within governmental funds. Transactions between governmental
and proprietary funds are usually recorded as revenues and either expenditures or expenses of the respective funds.
Unearned Revenue
Revenue received that has not been earned, is recorded as a liability until a period of time or expenditures occur.
Once the funds are considered earned, at that point they are recognized as revenue.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
28
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Equity Classifications
Government-Wide 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, less outstanding
balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction,
or improvements of those assets.
Restricted net position – Amount of net position that is subject to restrictions that are imposed by 1) external
groups, such as creditors, 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 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.
Fund Financial Statements
Fund balance is classified as either 1) nonspendable, 2) restricted, 3) committed, 4) assigned, or 5) unassigned.
Nonspendable fund balance represents amounts that cannot be spent due to form (such as inventories and prepaid
amounts), or amounts that must be maintained intact legally or contractually (such as the principal of a permanent fund).
Restricted fund balance represents amounts constrained for a specific purpose by external parties, constitutional
provision or enabling legislation.
Committed fund balance represents amounts constrained for a specific purpose by a government using its highest level
of decision-making authority. It would require action by the same group to remove or change the constraints placed on
the resources. The action to constrain resources must occur prior to year-end; however, the amount can be determined
in the subsequent period. The Common Council is the decision-making authority that can, by adoption of a resolution
prior to the end of the fiscal year, commit fund balance.
Assigned fund balance, in the general fund, represents amounts constrained by the Common Council for a specific
intended purpose. The City has not delegated that authority to others. Assigned fund balance in all other governmental
funds represents any positive remaining amount after classifying nonspendable, restricted or committed fund balance.
Unassigned fund balance, represents amounts not classified as nonspendable, restricted, committed or assigned. The
general fund is the only fund that would report a positive amount in the unassigned fund balance.
The City, unless otherwise required by law or agreements, spends funds in the following order: restricted first, then
committed, then assigned, and lastly unassigned.
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.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
29
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Fund Financial Statements
The minimum fund balance amount is calculated as follows:
Budgeted 2023 General Fund Revenues 54,807,400$
Minimum Fund Balance % x 16%
Minimum Fund Balance Amount 8,769,184$
The City’s unassigned fund balance of $19,684,630 is above the minimum fund balance amount.
Claims and Judgments
Claims and judgments are recorded as liabilities if all the conditions of Governmental Accounting Standards Board
(GASB) pronouncements are met. Claims and judgments expected to be liquidated with expendable available financial
resources are recorded during the year as expenditures in the governmental funds. If they are not expected to be
liquidated with expendable available financial resources, no liability is recognized in the governmental fund financial
statements. Claims and judgments in the government-wide financial statements and proprietary funds are recorded as
expenses when the related liabilities are incurred. There were no significant claims or judgments at the end of the year.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows of
resources, liabilities and deferred inflows of resources and disclosure of contingent assets, deferred outflows of
resources, liabilities and deferred inflows of resources at the date of the financial statements and the reported amounts
of revenues and expenditures/expenses during the reporting period. Actual results may differ from those estimates.
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 are 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, 2021, from which the summarized information was derived.
Reclassifications
Certain amounts in the prior year financial statements have been reclassified to conform to the presentation in the
current year financial statements.
Leases
The City adopted GASB Statement No. 87 for the year ended December 31, 2022 which requires recognition of
certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as
inflows of resources or outflows of resources based on the payment provisions of the contract. This statement
establishes a single model for lease accounting based on the foundational principle that leases are financings of
the right to use an underlying asset. A lessee is required to recognize a lease liability and an intangible right-to-use
lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources. The City
had no material leases that were required to be disclosed.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
30
Note 2 - Cash and Investments (Continued)
The City is required to invest its funds in accordance with Wisconsin Statutes. Allowable investments are as follows:
Time deposits in any credit union, bank, savings bank or trust company maturing in three year or less.
Bonds or securities of any county, city, drainage district, technical college district, village, town, or school district
of the state. Also, bonds issued by a local exposition district, local professional baseball park district, or the
University of Wisconsin Hospitals and Clinics Authority.
Bonds or securities issued or guaranteed by the federal government.
The Wisconsin Local Government Investment Pool.
Any security maturing in seven year or less and having the highest or second highest rating category of a
nationally recognized rating.
Securities of an open-end management investment company or investment trust subject to various conditions
and investment options.
Repurchase agreements with public depositories, with certain conditions.
The carrying amount of the City’s cash and investments totaled $285,308,942 on December 31, 2022 are as follows:
Petty Cash and Cash on Hand $15,949
Deposits With Financial Institutions 229,124,659
Investments 56,168,334
Reconciliation to the Financial Statements
Government-Wide Statement of Net Position:
Cash and Investments $ 238,546,332
Deposit with GO HNI 213,769
Restricted Cash 20,907,480
Fiduciary Funds Statement of Net Position:
Custodial Funds 25,641,361
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.
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 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.
At December 31, 2022, the City’s deposits had a bank balance of $229,741,181. The City maintains its cash accounts
at several financial institutions. Deposits in each bank are insured by the FDIC up to $250,000 for the combined
amounts of all time and savings accounts (including NOW accounts); up to $250,000 for the combined amount of all
interest and noninterest bearing demand deposit accounts. Deposits in credit unions are insured by the NCUA up to
$250,000 for all accounts.
Any losses caused by failure of public depositories are also covered by the State Deposit Guarantee Fund. The fund
provides coverage of $400,000 in each financial institution above the applicable insurance coverage provided by the
FDIC. However, although the fund had reserves available at December 31, 2022, the future availability of resources to
cover the losses cannot be projected because provisions of the 1985 Wisconsin Act 25 provided that the amount in the
fund will be used to repay public depositors for losses until the appropriation is exhausted, at which time the fund will
be abolished; therefore, the State Deposit Guarantee Fund is not considered in covered amounts noted below.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
31
Note 2 - Cash and Investments (Continued)
The following represents a summary of deposits as of December 31, 2022:
Fully Insured Deposits 5,356,022$
Collateralized 200,000,000
Uninsured and Uncollateralized 24,385,159
Total 229,741,181$
The difference between the bank balance and carrying value is due to outstanding checks and/or deposits in transit at
December 31, 2022.
Credit Risk – State law limits investments in commercial paper, corporate bonds, and mutual bond funds to the top two
ratings issued by nationally recognized statistical rating organizations. The City’s investment policy does not further limit
its investment choices.
As of December 31, 2022, the City’s credit quality ratings are as follows:
U.S. Treasury Securities $ 2,213,970 $ - $ 2,213,970 $ - $ - $ - $ -
Federal Home Loan Bank 6,278,616 - 6,278,616 - - - -
Federal Home Loan Mortgage 1,970,723 - 1,970,723 - - - -
Federal National Mortgage 266,817 - 266,817 - - - -
Money market mutual funds 157,660 - 149,019 - - - 8,641
Municipal Bonds 5,556,150 - 577,623 701,909 1,460,665 145,112 2,670,841
Mutual funds 3,239,693 - - - - - 3,239,693
Negotiable Certificate of Deposts 4,235,209 - - 213,625 - 573,047 3,448,537
Oshkosh Community Foundation 6,013,051 - - - - - 6,013,051
Corporate stocks / bonds 661,085 - - - - - 661,085
Wisconsin Investment Series Cooperative 10,318,736 - - - - - 10,318,736
WI Local Government Investment Pool 15,256,624 - - - - - 15,256,624
$ 56,168,334 $ - $ 11,456,768 $ 915,534 $ 1,460,665 $ 718,159 $ 41,617,208
Exempt
From Not
Investment Type Amount Disclosure AAA Aa1 A RatedAa2
Concentration of Credit Risk
The City’s investment policy states that it will diversify its investments by security type and institution. With the
exception of U.S. Treasury securities and authorized pools, no more than 50% of the City’s total investment portfolio
will be invested in a single type or with a single financial institution. Investments in any one issuer that represent
5% or more of City’s total investments are as follows:
Issuer Investment Type
Reported
Amount
Percent of
Total
Investments
Federal Home Loan Bank Federal Agency Security 6,278,616$ 11.18%
Interest Rate Risk
Interest rate risk is the risk that changes in 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
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.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
32
Note 2 - Cash and Investments (Continued)
As of December 31, 2022, the City’s investments were as follows:
Investment Type
U.S. Treasury Securities $ 2,213,970 $ 537,362 $ 1,172,565 $ 504,043 $ -
Federal Home Loan Bank 6,278,616 661,135 - 5,617,481 -
Federal Home Loan Mortgage 1,970,723 594,936 - 1,375,787 -
Federal National Mortgage 266,817 - - 266,817 -
Money market mutual funds 157,660 157,660 - - -
Municipal Bonds 5,556,150 2,029,624 2,293,653 625,676 607,197
Mutual funds 3,239,693 3,239,693 - - -
Negotiable Certificate of Deposts 4,235,209 1,613,465 2,408,119 213,625 -
Oshkosh Community Foundation 6,013,051 6,013,051 - - -
Corporate stocks / bonds 661,085 661,085 - - -
Wisconsin Investment Series Cooperative 10,318,736 10,318,736 - - -
WI Local Government Investment Pool 15,256,624 15,256,624 - - -
$ 56,168,334 $ 41,083,371 $ 5,874,337 $ 8,603,429 $ 607,197
Remaining Maturity (in Months)
12 Months 13 to 24 25 to 60 More Than
Amount or Less Months Months 60 Months
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):
Highly Sensitive Investments
Fair Value at
Year End
Federal National Mortgage 266,817$
Federal Home Loan Bank 6,278,616
Federal Home Loan Mortgage 1,970,723
8,516,156$
Fair Value
Investments are measured at fair value on a recurring basis. Recurring fair value measurements are those that
Governmental Accounting Standards Board (GASB) Statements require in the statement of net position at the end
of each reporting period. Fair value measurements are categorized based on the valuation inputs used to measure
an asset’s fair value.
Level 1 – Valuation for assets are from quoted prices in active markets. These valuations are obtained
from readily available pricing sources for market transactions involving identical assets.
Level 2 – Valuation for assets are from less active markets. These valuations are obtained from third
party pricing services for identical or similar assets.
Level 3 – Measurements that are least observable are estimated from related market data, determined
from sources with little or no market activity for comparable contracts, or are positions with longer durations.
These valuations incorporate certain assumptions and projections in determining fair value assigned to
such assets.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
33
Note 2 - Cash and Investments (Continued)
U.S. Treasury Securities $ 2,213,970 $ - $ -
Federal Home Loan Bank - 6,278,616 -
Federal Home Loan Mortgage - 1,970,723 -
Federal National Mortgage - 266,817 -
Money market mutual funds 157,660 - -
Municipal Bonds - 5,556,150 -
Mutual funds 3,239,693 - -
Negotiable Certificate of Deposts - 4,235,209 -
Oshkosh Community Foundation - - 6,013,051
Corporate stocks / bonds - 661,085 -
Total $ 5,611,323 $ 18,968,600 $ 6,013,051
Fair Value Measurement Using
Level 1 Level 2 Level 3
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. Participants in the LGIP have the right to withdraw
their funds in total on one day’s notice. Investments in the local government investment pool are not insured.
Investments in the LGIP are valued at amortized cost. The balance in the local government investment pool at
December 31, 2022 was $15,256,624.
The City has investments in the Wisconsin Investment Series Cooperative (WISC) of $10,318,736 at year-end
consisting of $10,318,736 invested in the Investment Series. The Investment Series requires a 14-day minimum
investment period and one business day withdrawal notice, and the average dollar weighted maturity in one hundred
twenty (120) days or less.
WISC is organized by and operated exclusively for Wisconsin public schools, technical colleges, and municipal entities.
WISC is not registered with the Securities and Exchange Commission, but operates under Wisconsin International
Cooperate Statute, Section 66.031. WISC is governed by the Wisconsin Investment Series Cooperative Commission
in accordance with Wisconsin law. WISC investments are valued at amortized cost, which approximates market value.
Beneficial interest in assets held by Oshkosh Community Foundation represents amounts held by 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.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
34
Note 3 - Restricted Assets
Restricted assets on December 31, 2022 totaled $20,907,480 and consisted of cash and investments held for the
following purposes:
Enterprise Funds:
Water Utility
Plant Replacement 1,152,688$
Bond Reserve - To make up for potential future deficiencies in net revenues 4,849,386
Depreciation Fund - To replace certain assets for water distribution 154,002
Total 6,156,076
Sewer Utility
Bond Reserve - To make up for potential future deficiencies in net revenues 6,879,287
DNR Infrastructure Plant Replacement 669,679
Total 7,548,966
Stormwater Utility
Bond Reserve - To make up for potential future deficiencies in net revenues 7,202,438
Total Restricted Assets 20,907,480$
Note 4 - Property Taxes
Real estate property taxes are payable in full by January 31 or in four installments on or before January 31, March 31,
May 31, and July 31. Real estate taxes not paid by July 31 are submitted to Winnebago County for final collection as
part of the August tax settlement.
Personal property tax bills, except improvements on leased land, must be paid in full on or before January 31 or the
taxes are delinquent.
All delinquent real estate and personal property taxes are subject to interest of 1% per month (fraction of a month counts
as a whole month) from February 1 until paid and may be subject to an additional penalty (sec. 74.47, Wis. Stats.). The
payment must be received by the treasurer within 5 working days of the due date.
Under 2011 Wisconsin Act 32, a municipality is allowed to increase its levy over the amount it levied in the prior year
by the percentage increase in equalized value from net new construction or zero percent. Changes in debt service from
one year to the next are generally exempt from this limit.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
35
Governmental Activities
Capital Assets not Being Depreciated
Land $22,274,380 $ 1,164,282 $ - $23,438,662
Construction in Progress 1,581,145 5,086,850 48,223 6,619,772
Total Capital Assets Not
Being Depreciated 23,855,525 6,251,132 48,223 30,058,434
Capital Assets Being Depreciated
Buildings and Improvements 72,464,890 701,524 - 73,166,414
Machinery and Equipment 72,241,842 14,743,297 4,584,269 82,400,870
Infrastructure 119,975,967 5,775,326 4,379,092 121,372,201
Total Capital Assets Being
Depreciated 264,682,699 21,220,147 8,963,361 276,939,485
Accumulated Depreciation
Buildings and Improvements (24,387,380) (1,491,156) - (25,878,536)
Machinery and Equipment (42,575,500) (7,933,387) (4,584,269) (45,924,618)
Infrastructure (48,696,193) (4,045,062) (3,983,675) (48,757,580)
Total Accumulated Depreciation (115,659,073) (13,469,605) (8,567,944) (120,560,734)
Total Capital Assets Being
Depreciated, Net of Depreciation 149,023,626 7,750,542 395,417 156,378,751
Governmental Activities Capital
Assets, Net of Accumulated
Depreciation $172,879,151 $14,001,674 $443,640 $186,437,185
Business-Type Activities
Capital Assets not Being Depreciated
Land $14,235,768 $ - $ - $14,235,768
Construction in Progress 9,721,772 3,033,043 7,521,782 5,233,033
Total Capital Assets Not Being 23,957,540 3,033,043 7,521,782 19,468,801
Depreciated
Capital Assets Being Depreciated
Buildings and Improvements 25,344,212 1,519,670 190,431 26,673,451
Machinery and Equipment 108,770,750 3,277,376 112,191 111,935,935
Infrastructure 385,009,652 22,924,970 973,241 406,961,381
Subtotal 519,124,614 27,722,016 1,275,863 545,570,767
Less Accumulated Depreciation (166,450,992) (11,414,299) (1,275,863) (176,589,428)
Total Capital Assets Being
Depreciated, Net of Depreciation 352,673,622 16,307,717 - 368,981,339
Business-Type Activities Capital
Assets, Net of Accumulated
Depreciation $376,631,162 $19,340,760 $7,521,782 $388,450,140
Ending
Beginning Increases Decreases Ending
Beginning Increases Decreases
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
36
Note 5 - Capital Assets (Continued)
Depreciation expense was charged to functions of the City as follows:
Governmental Activities:
General Government $516,974
Public Safety 1,482,882
Public Works 8,026,983
Culture and Recreation 1,537,274
Conservation and Development 1,905,492
Total Depreciation Expense - Governmental Activities $ 13,469,605
Business-Type Activities:
Transit $775,224
Storm Water Utility 2,528,613
Water Utility Depreciation Charged to Accumulated Depreciation 3,844,118
Less: Share of Meter Depreciation (125,591)
Water Utility Depreciation Expense 3,718,527
Sewer Utility Depreciation Charged to Accumulated Depreciation 3,959,085
Plus: Share of Meter Depreciation 125,591
Sewer Utility Depreciation Expense 4,084,676
Parking Utility 125,792
Oshkosh Redevelopment Project 181,467
Total Depreciation Expense - Business-Type Activities $11,414,299
Note 6 - Interfund Receivables, Payables and Transfers
Interfund transfers for the year ended December 31, 2022 were as follows:
Fund Transferred To Fund Transferred From Amount
General Fund Water Utility 1,542,600$
Museum Permanent Funds 98,200
Cemetery Permanent Funds 49,300
Fire Special General Fund 143,552
Park Revenue Facilities General Fund 350,000
Leach Amphitheater Permanent Funds 20,000
Street Tree Memorial General Fund 325,000
Health Insurance General Fund 25,000
Workers Compensation Police Pension 582,507
Workers Compensation Fire Pension 147,792
3,283,951$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
37
Note 6 - Interfund Receivables, Payables and Transfers (Continued)
Transfers are used to: 1) move unrestricted revenues collected in the general fund to finance various programs
accounted for in other funds in accordance with budgetary authorizations; 2) move revenues from the fund that is
required to collect them to the fund that is required or allowed to expend them; 3) move receipts restricted to or allowed
for debt service from the funds collecting the receipts to the debt service funds as debt service payments become due;
and 4) move payment in lieu of taxes from the regulated utilities to the general fund.
The following is a schedule of interfund receivables and payables:
Receivable Fund Payable Fund Amount Purpose
Governmental Activities:
Recycling Community Development Block Grant 550,709$ Year End Cash Flow Timing
Recycling Public Works Special 74,369 Year End Cash Flow Timing
Equipment Sidewalk Construction 2,047,250 Year End Cash Flow Timing
Equipment TIF No. 13 547,782 Year End Cash Flow Timing
Equipment TIF No. 17 679,483 Year End Cash Flow Timing
Equipment TIF No. 18 472,745 Year End Cash Flow Timing
Equipment TIF No. 23 2,150,843 Year End Cash Flow Timing
TIF No. 17 TIF No. 25 1,343,000 Year End Cash Flow Timing
Equipment TIF No. 25 305,282 Year End Cash Flow Timing
Equipment TIF No. 26 3,190,245 Year End Cash Flow Timing
Equipment TIF No. 27 1,158,136 Year End Cash Flow Timing
TIF No. 35 TIF No. 38 5,662 Year End Cash Flow Timing
TIF No. 35 TIF No. 40 9,072 Year End Cash Flow Timing
TIF No. 35 TIF No. 41 10,779 Year End Cash Flow Timing
TIF No. 35 TIF No. 42 2,825 Year End Cash Flow Timing
TIF No. 35 TIF No. 43 22,665 Year End Cash Flow Timing
Equipment Grand Opera House 87,527 Year End Cash Flow Timing
Leach Amphitheater Permanent Funds 20,000 Year End Cash Flow Timing
Health Insurance Field Operations 1,719,923 Year End Cash Flow Timing
Library Permanent Funds 21,153 Year End Cash Flow Timing
Museum Permanent Funds 90,000 Year End Cash Flow Timing
14,509,450$
Business-type Activities:
Inspection Services Industrial Park Land 1,240,829$ Year End Cash Flow Timing
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
38
Note 7 - Long-Term Obligations
The following is a summary of changes in long-term obligations of the City for the year ended December 31, 2022:
Governmental Activities
General Obligation Debt
Bonds and Notes $ 108,436,109 $ 30,410,000 $ 12,600,000 $ 126,246,109 $ 13,652,562
Notes From Direct Borrowing 1,935,921 - 871,390 1,064,531 642,340
Total General Obligation Debt 110,372,030 30,410,000 13,471,390 127,310,640 14,294,902
Debt Premium 4,812,929 1,735,824 545,945 6,002,808 -
Compensated Absences 4,084,084 53,339 - 4,137,423 455,117
Subtotal 8,897,013 1,789,163 545,945 10,140,231 455,117
Total Governmental Activity
Long-Term Liabilities $ 119,269,043 $ 32,199,163 $ 14,017,335 $ 137,450,871 $ 14,750,019
Business-Type Activities
General Obligation Debt
Transit Utility $ 900,000 $ - $ 110,000 $ 790,000 $ 110,000
Water Utility 2,385,000 - 580,000 1,805,000 445,000
Sewer Utility 3,595,000 - 740,000 2,855,000 705,000
Stormwater Utility 3,160,000 - 725,000 2,435,000 475,000
Parking Utility 25,000 - - 25,000 -
Industrial Park 295,000 - 110,000 185,000 35,000
Notes From Direct Borrowing
Oshkosh Redevelopment 1,247,285 - 185,712 1,061,573 194,069
Total General Obligation Debt 11,607,285 - 2,450,712 9,156,573 1,964,069
Revenue Bonds
Water Utility 49,505,000 8,315,000 3,550,000 54,270,000 3,945,000
Sewer Utility 74,839,597 14,270,000 4,164,597 84,945,000 4,595,000
Stormwater Utility 82,235,000 8,405,000 4,775,000 85,865,000 5,180,000
Notes from Direct Borrowing
Water Utility 3,076,008 - 409,223 2,666,785 418,901
Sewer Utility 4,781,164 - 474,509 4,306,655 486,502
Total Revenue Bonds 214,436,769 30,990,000 13,373,329 232,053,440 14,625,403
Debt Premium
Water Utility 2,568,906 313,801 197,638 2,685,069 -
Sewer Utility 3,624,060 578,919 240,333 3,962,646 -
Stormwater Utility 3,144,131 411,124 248,484 3,306,771 -
Total Debt Premium 9,337,097 1,303,844 686,455 9,954,486 -
Compensated Absences 852,287 - 97,434 754,853 226,455
Total Business Activity
Long-Term Liabilities $ 236,233,438 $ 32,293,844 $ 16,607,930 $ 251,919,352 $ 16,815,927
Balances Issued Retired Balances One Year
Beginning Ending Due Within
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
39
Note 7 - Long-Term Obligations (Continued)
General obligation debt currently outstanding is detailed as follows:
Refunding Bonds:
2010C 08/25/10 12/01/11 - 6/01/24 06/01 - 12/01 2.00 - 3.25% $ 12,620,000 $ 170,000
2011B 03/16/11 3/15/12 - 23 03/15 - 09/15 2.00 - 4.70% 6,350,000 235,000
2012A 06/28/12 12/01/13 - 27 06/01 - 12/01 0.40 - 3.00% 5,595,000 870,000
2016C 07/06/16 12/01/17 - 34 06/01 - 12/01 2.25 - 3.00% 9,850,000 7,820,000
2016H 10/06/16 12/01/17 - 30 06/01 - 12/01 3.00 - 4.00 % 6,890,000 4,360,000
2021F 11/28/21 12/01/22 - 31 06/01 - 12/01 2.00 - 5.00% 6,320,000 5,760,000
Coporate Purpose Bonds:
2013B 12/04/13 12/01/14 -33 06/01 - 12/01 2.00 - 4.00% 9,080,000 5,640,000
2014B 11/05/14 12/01/15 -33 06/01 - 12/01 2.00 - 3.00% 14,455,000 6,175,000
2015A 07/15/15 12/01/16 - 34 06/01 - 12/01 2.00 - 4.00% 18,750,000 9,565,000
2016A 06/14/16 12/01/17 - 35 06/01 - 12/01 2.00 - 4.00% 7,950,000 3,320,000
2017A 07/06/17 12/01/18 - 36 06/01 - 12/01 3.00 - 4.00% 5,440,000 3,890,000
2018A 06/28/18 12/01/18 - 37 06/01 - 12/01 3.00 - 3.50% 5,545,000 4,520,000
2019A 06/27/19 12/01/20 - 38 06/01 - 12/01 2.75 - 4.00% 5,380,000 4,260,000
2020A 07/01/20 06/01/21 - 40 06/01 - 12/01 2.00 - 3.00% 10,425,000 8,815,000
2021A 06/30/21 06/01/22 - 41 06/01 - 12/01 2.00 - 3.00% 8,660,000 8,090,000
2022A 07/07/22 06/01/23 - 42 06/01 - 12/01 4.25 - 5.00% 21,360,000 21,360,000
Promissory Notes:
STFL 05 05/31/05 03/15/07 - 25 03/15 5.00% 200,000 43,282
STFL 13 04/03/13 03/15/14 - 23 03/15 2.75% 640,000 72,017
STFL 13 11/19/13 03/15/14 - 24 03/15 2.75% 2,644,100 329,471
2013C 12/04/13 12/01/14 - 23 06/01 - 12/01 2.00 - 3.00% 1,690,000 190,000
2014C 11/05/14 12/01/15 - 23 06/01 - 12/01 2.00% 2,615,000 310,000
STFL 15 02/17/15 03/15/16 - 24 03/15 3.50% 1,250,000 312,918
2015B 07/15/15 12/01/16 - 24 06/01 - 12/01 2.00 - 3.00% 4,210,000 1,005,000
STFL 16 07/19/16 03/15/17 - 26 03/15 3.00% 711,300 306,843
2016B 09/14/16 12/01/17 - 25 06/01 - 12/01 2.00 - 4.00% 4,700,000 1,650,000
2017B 07/06/17 12/01/18 - 26 06/01 - 12/01 2.00 - 4.00% 5,830,000 1,061,573
STFL CONV CENTER 08/21/17 03/15/18 - 27 03/15 4.50% 1,500,000 2,710,000
2018B 06/28/18 12/01/19 - 27 06/01 - 12/01 3.00 - 4.00% 5,895,000 3,395,000
2018SBA 11/01/18 11/01/18 - 32 11/01 4.00% 140,000 116,109
2019B 06/27/19 12/01/19 - 28 06/01 - 12/01 3.00 - 4.00% 15,820,000 10,545,000
2020B 07/01/20 06/01/21 - 30 06/01 - 12/01 2.00 - 3.00% 7,290,000 5,750,000
2021B 06/30/21 06/01/22 - 31 06/01 - 12/01 2.00 - 3.00% 5,500,000 4,770,000
2022B 07/07/22 06/01/23 - 32 06/01 - 12/01 3.00 - 5.00% 9,050,000 9,050,000
Total Outstanding General Obligation Debt $ 136,467,213
12/31/2022
Dates of Principal Interest Interest Original Balances
Issuance Payable Payable Rates Indebtedness
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
40
Note 7 - Long-Term Obligations (Continued)
The annual principal and interest maturities are as follows:
2023 $ 13,652,562 $ 3,265,385 $ 642,340 $ 33,362 $ 14,294,902 $ 3,298,747
2024 13,004,312 2,726,713 249,082 14,091 13,253,394 2,740,804
2025 12,354,684 2,344,142 92,960 5,496 12,447,644 2,349,638
2026 11,125,072 2,005,062 80,149 2,404 11,205,221 2,007,466
2027 10,485,475 1,715,030 - - 10,485,475 1,715,030
2028 - 2032 39,229,004 4,917,716 - - 39,229,004 4,917,716
2033 - 2037 16,870,000 1,301,238 - - 16,870,000 1,301,238
2037 - 2042 9,525,000 162,103 - - 9,525,000 162,103
$ 126,246,109 $ 18,437,389 $ 1,064,531 $ 55,353 $ 127,310,640 $ 18,492,742
Governmental Activities
Bonded and General Debt Notes From Direct Borrowings Totals
Principal Interest Principal Interest Principal Interest
2023 $ 1,770,000 $ 234,844 $ 194,069 $ 47,771 $ 1,964,069 $ 282,615
2024 1,500,000 182,645 202,695 39,145 1,702,695 221,790
2025 1,235,000 139,307 211,923 29,916 1,446,923 169,223
2026 1,125,004 104,552 221,456 20,384 1,346,460 124,936
2027 759,996 68,503 231,430 10,410 991,426 78,913
2028 - 2032 1,350,000 124,475 - - 1,350,000 124,475
2033 - 2034 355,000 10,875 - - 355,000 10,875
$ 8,095,000 $ 865,201 $ 1,061,573 $ 147,626 $ 9,156,573 $ 1,012,827
Business Type Activities
Bonded and General Debt Notes From Direct Borrowings Totals
Principal Interest Principal Interest Principal Interest
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
41
Note 7 - Long-Term Obligations (Continued)
Revenue bond debt currently outstanding is detailed as follows:
Water Utility
Safe Drinking Revenue Bond 4874-02 2008 05/01/10 - 28 5/1/ & 11/1 2.75% $ 1,344,824 $ 2,666,785
Revenue Bond 2013E 2013 01/01/15 - 33 1/1 & 7/1 2.25 - 3.125% 3,785,000 1,855,000
Revenue Bond 2014E 2014 01/01/16 - 34 1/1 & 7/1 2.00 - 4.125% 3,795,000 1,915,000
Revenue Bond 2015E 2015 01/01/16 - 35 1/1 & 7/1 2.00 - 4.00% 6,660,000 4,835,000
Revenue Bond 2016F 2016 01/01/17 - 36 1/1 & 7/1 3.00 - 4.00% 6,835,000 5,105,000
Safe Drinking Revenue Bond 2016G 2016 01/01/17 - 37 1/1 & 7/1 2.00 - 3.00% 11,690,000 5,530,000
Revenue Bond 2017C 2017 01/01/18 - 38 1/1 & 7/1 2.00 - 4.00% 8,880,000 6,915,000
Revenue Bond 2019D 2019 01/01/20 - 39 1/1 & 7/1 3.00 - 5.00% 8,220,000 6,535,000
Revenue Bond 2020D 2020 01/01/21 - 40 1/1 & 7/1 2.00 - 4.00% 5,525,000 5,120,000
Revenue Bond 2021D 2021 01/01/22 - 41 1/1 & 7/1 2.00 - 3.00% 5,605,000 5,390,000
Refunding Revenue Bond 2021G 2021 01/01/23 - 32 1/1 & 7/1 3.00% 2,755,000 2,755,000
Revenue Bond 2022D 2022 01/01/23 - 42 1/1 & 7/1 3.25 - 5.00% 8,315,000 8,315,000
Sewer Utility
Clean Water Revenue Bond 4130-05 2004 05/01/05 - 24 5/1/ & 11/1 2.396% 1,989,231 418,200
Revenue Bond 2012E 2012 05/01/13 - 32 5/1/ & 11/1 2.25 - 3.00% 6,270,000 3,100,000
Revenue Bond 2013D 2013 01/01/14 - 33 5/1/ & 11/1 2.00 - 4.125% 4,175,000 2,370,000
Clean Water Revenue Bond 4130-14 2014 05/01/15 - 34 5/1/ & 11/1 2.625% 5,706,185 3,888,455
Revenue Bond 2014D 2014 05/01/15 - 34 5/1/ & 11/1 2.00 - 4.00% 5,980,000 3,630,000
Revenue Bond 2015D 2015 05/01/16 - 35 5/1/ & 11/1 2.00 - 4.00% 6,695,000 4,615,000
Revenue Bond 2016D 2016 05/01/17 - 36 5/1/ & 11/1 2.00 - 3.00% 10,045,000 7,130,000
Revenue Bond 2017D 2017 05/01/18 - 37 5/1/ & 11/1 3.00 - 5.00% 15,075,000 12,315,000
Revenue Bond 2019E 2019 05/01/20 - 39 5/1/ & 11/1 2.00 - 4.00% 13,990,000 10,980,000
Revenue Bond 2020E 2020 05/01/21 - 40 5/1/ & 11/1 2.00 - 4.00% 13,930,000 12,985,000
Revenue Bond 2021E 2021 05/01/22 - 41 5/1/ & 11/1 2.00 - 4.00% 13,940,000 13,550,000
Revenue Bond 2022E 2022 05/01/23 - 42 5/1/ & 11/1 3.25 - 5.00% 14,270,000 14,270,000
Stormwater Utility
Revenue Bond 2012D 2012 05/01/13 - 32 5/1/ & 11/1 3.00 - 3.12% 6,810,000 3,885,000
Revenue Bond 2013A 2013 01/01/14 - 33 5/1/ & 11/1 3.00 - 4.125% 15,220,000 9,710,000
Revenue Bond 2014A 2014 05/01/15 - 34 5/1/ & 11/1 2.00 - 4.00% 8,300,000 5,680,000
Revenue Bond 2015C 2015 05/01/16 - 35 5/1/ & 11/1 3.00 - 4.00% 13,115,000 8,660,000
Revenue Bond 2016E 2016 05/01/17 - 36 5/1/ & 11/1 3.00 - 4.00% 5,175,000 3,905,000
Refunding Revenue Bond 2016E 2016 05/01/17 - 30 5/1/ & 11/1 2.00 - 4.00% 15,295,000 9,955,000
Revenue Bond 2017E 2017 05/01/18 - 37 5/1/ & 11/1 3.00 - 5.00% 9,720,000 8,075,000
Revenue Bond 2018C 2018 05/01/19 - 38 5/1/ & 11/1 4.00 - 5.00% 10,060,000 8,810,000
Revenue Bond 2019C 2019 05/01/20 - 39 5/1/ & 11/1 3.00 - 5.00% 8,060,000 7,345,000
Revenue Bond 2020C 2020 05/01/21 - 40 5/1/ & 11/1 2.00 - 4.00% 4,770,000 4,470,000
Revenue Bond 2021C 2021 05/01/22 - 41 5/1/ & 11/1 2.00 - 4.00% 7,160,000 6,965,000
Revenue Bond 2022C 2022 05/01/23 - 42 5/1/ & 11/1 4.00 - 5.00% 8,405,000 8,405,000
Total Outstanding Revenue Bonds $ 232,053,440
12/31/2022Numbers Issue Payable Payables Rates Indebtedness
Issue Years of Principal Interest Interest Original Balances
The annual principal and interest maturities are as follows:
2023 $ 13,720,000 $ 7,529,723 $ 905,403 $ 164,059 $ 14,625,403 $ 7,693,782
2024 14,290,000 6,761,293 927,608 141,582 15,217,608 6,902,875
2025 14,530,000 6,247,169 733,713 121,147 15,263,713 6,368,316
2026 14,720,000 5,742,348 751,832 102,804 15,471,832 5,845,152
2027 14,445,000 5,222,632 770,399 84,007 15,215,399 5,306,639
2028 - 2032 73,615,000 18,180,465 2,149,646 214,471 75,764,646 18,394,936
2033 - 2037 55,175,000 7,528,491 734,839 19,415 55,909,839 7,547,906
2038 - 2042 24,585,000 1,598,575 - - 24,585,000 1,598,575
$ 225,080,000 $ 58,810,696 $ 6,973,440 $ 847,485 $ 232,053,440 $ 59,658,181
Business Type Activities
Bonded Debt Notes From Direct Borrowing Totals
Principal Interest Principal Interest Principal Interest
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
42
Note 7 - Long-Term Obligations (Continued)
Interest paid on long-term debt during 2022 was $11,930,575.
The City’s outstanding notes from direct borrowings and direct placements of $9,099,544 contain a provision that in an
event of default, outstanding amounts become immediately due if the City is unable to make a payment.
Legal Margin For Debt
The 2022 equalized valuation of the City as certified by the Wisconsin Department of Revenue is $5,336,259,600. The
legal debt limit and margin of indebtedness as of December 31, 2022, in accordance with Section 67.03 of the Wisconsin
Statutes follows:
Legal Margin For Debt
Equalized Valuation of the City $ 5,336,259,600
Statutory Limitation Percentage 5%
General Obligation Debt Limitation, per Section 67.03 of the Wisconsin Statutes 266,812,980
Total Outstanding General Obligation Debt Applicable
to Debt Limitation $ 136,467,213
Less: Amounts Available for Repayment of General
Obligation Debt - Debt Service Fund 16,409,095
Net Outstanding General Obligation Debt Applicable to Debt Service Fund 120,058,118
Legal Margin for New Debt $ 146,754,862
Utility Revenues Pledged
The Utility has pledged future revenue derived from the Water, Sewer and Stormwater Utilities, net of specified operating
expenses, to repay the Clean Water Fund Loans, Safe Drinking Water Loans, and Revenue Bonds. Proceeds from
the debt provided financing for the construction or acquisition of capital assets used within the utilities.
The Safe Drinking Water Loans and Revenues Bonds are payable from Water System net revenues and are payable
through 2042. The total principal remaining to be paid on the loans is $56,936,785. Principal and interest paid for the
current year and total water system net revenues were $5,463,946 and $9,024,996, respectively. The Water System
did meet the Safe Drinking Water Loans and Revenue Bonds revenue requirements in 2022.
The Clean Water Fund Loans and Revenue Bonds are payable from Sewer System net revenues and payable through
2042. The total principal remaining to be paid on the loans is $89,251,655. Principal and interest paid for the current
year and total Sewerage System net revenues were $6,884,912 and $9,727,818, respectively. The Sewer System did
meet the Clean Water Fund Loans and Revenue Bonds revenue requirements in 2022.
The Revenue Bonds are payable from Stormwater System net revenues and payable through 2042. The total principal
remaining to be paid on the loans is $85,865,000. Principal and interest paid for the current year and total Stormwater
System net revenues were $7,464,025 and $10,882,507, respectively. The Stormwater System did meet the Revenue
Bonds revenue requirements in 2022.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
43
Note 8 - Fund Equity
Fund Financial Statements
At December 31, 2022 the assigned and restricted fund balances are as follows:
Nonspendable
General Fund
Inventory and Prepaid Items 322,998$
Permanent Funds 3,646,101
Total Nonspendable Fund Balance 3,969,099$
Restricted
Special Revenues
Senior Services 67,974$
Business Improvement District 104,106
Community Development 4,422,498
Community Development Loans 2,321,923
Police Special 315,059
Fire Special 337,658
Healthy Neighborhood Initiatives 213,769
Tax Incremental District Development 11,546,889
Debt Service 16,995,944
36,325,820
Permanent Funds 8,336,606
Total Restricted Fund Balance 44,662,426$
Committed
Special Revenue and Capital Projects Funds:
Recycling Program 2,430,826$
Street Lighting 211,613
Library 146,480
Museum 1,332,675
Cemetery 236,134
Senior Services Revolving Loans 156,466
Park Revenue Facilities 602,596
Leach Amphitheater 71,901
Garbage Collection and Disposal 79,776
Pollock Water Park 221,936
Healthy Neighborhoods 3,122,715
Rental Inspections 37,982
Total Committed Fund Balance 8,651,100$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
44
Note 8 - Fund Equity (Continued)
Assigned
General Fund:
Subsequent Year's Expenditures Budgeted 80,018$
Special Revenue and Capital Projects Funds:
Special Events 94,449
Special Assessment Improvement 13,400,811
Contract Control 3,861,808
Street Improvement 10,726,396
Street Tree Memorial 15,694
Equipment 10,741,772
Park Improvement and Acquisition 1,994,570
Park Subdivision Improvement 412,639
Mct Rochlin Park Smokestack 2,000
Senior Center 121,026
Parking Ramp Improvements 481,866
Subtotal 41,853,031
Government-Wide Financial Statements
At December 31, 2022 net position was as follows:
Net Investment in Capital Assets
Net Capital Assets $ 186,437,185 $ 388,450,140 $ 574,887,325
Less: Related Long-Term Debt (127,310,640) (241,025,013) (368,335,653)
Premium on Capital Debt (6,002,808) (9,954,486) (15,957,294)
Add: Deferred Charge on Refunding 71,357 110,982 182,339
Total Net Investment in Capital Assets 53,195,094 137,581,623 190,776,717
Restricted
Community Development Loans 2,321,923 - 2,321,923
Community Development 4,422,498 - 4,422,498
Business Improvement District 104,106 - 104,106
Permanent Funds 11,982,707 - 11,982,707
Police Special 315,059 - 315,059
Fire Special 337,658 - 337,658
Healthy Neighborhood Initiatives 213,769 - 213,769
Senior Services 67,974 - 67,974
Debt Service 16,409,095 18,931,111 35,340,206
Plant Replacement - 1,976,369 1,976,369
Pension Benefits 14,558,378 2,255,263 16,813,641
Total Restricted 50,733,167 23,162,743 73,895,910
Unrestricted 68,173,719 98,551,150 166,724,869
Total Government-Wide Activities Net Position $ 172,101,980 $ 259,295,516 $ 431,397,496
Governmental Business-Type
Activities Activities Total
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
45
Note 9 - Individual Fund Balance Disclosures
The following governmental funds have a deficit fund balance as of December 31, 2022:
Public Works Special 76,417$
Sidewalk Construction 2,047,250$
Grand Opera House 91,631$
TIF No. 13 Marion Road/Pearl Avenue 664,443$
TIF No. 18 SW Industrial Park Expansion 658,790$
TIF No. 23 SW Industrial Park Expansion 2,158,780$
TIF No. 25 City Center Hotel 1,748,148$
TIF No. 26 Aviation Business Park 3,190,245$
TIF No. 27 North Main Street Industrial Park 1,266,595$
TIF No. 34 Oshkosh Corp Headquarters 52,841$
TIF No. 36 Merge Redevelopment 4,344$
TIF No. 38 Pioneer Redevelopment 9,246$
TIF No. 40 Miles Kimball Redevelopment 9,251$
TIF No. 41 Smith School Redevelopment 10,779$
TIF No. 42 Morgan Crossing 2,825$
TIF No. 43 Mill on Main 22,665$
These deficit fund balances will be corrected with subsequent years’ revenues.
Note 10 - Defined Benefit Pension Plan
General Information about the Pension Plan
Plan Description. The Wisconsin Retirement System (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.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
46
Note 10 - Defined Benefit Pension Plan (Continued)
All employees, initially employed by a participating WRS employer on or after July 1, 2011, expected to work at
least 1,200 hours a year (880 hours for teachers and school City 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 Annual Comprehensive Financial Report (ACFR), which can be found at https://
etf.wi.gov/about-etf/reports-and-studies/financial-reports-and-statements.
Additionally, ETF issued a standalone Wisconsin Retirement System Financial Report, which can also be found using
the link above.
Vesting. 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.
Benefits Provided. Employees who retire at or after age 65 (54 for protective occupations and 62 for elected officials
and executive service retirement plan participants, if hired on or before December 31, 2016) are entitled to a retirement
benefit based on a formula factor, their final average earnings, and creditable service.
Final average earnings is the average of the participant's three highest annual earnings periods. Creditable service
includes current service and prior service for which a participant received earnings and made contributions as required.
Creditable service also includes creditable military service. The retirement benefit will be calculated as a money
purchase benefit based on the employee’s contributions plus matching employer's contributions, with interest, if that
benefit is higher than the formula benefit.
The WRS also provides death and disability benefits for employees.
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
2012 (7.0)% (7)%
2013 (9.6) 9
2014 4.7 25
2015 2.9 2
2016 0.5 (5)
2017 2.0 4
2018 2.4 17
2019 0.0 (10)
2020 1.7 21
2021 5.1 13
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
47
Note 10 - Defined Benefit Pension Plan (Continued)
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 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 remainder 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, the WRS recognized $4,265,639 in contributions from the City.
Contribution rates as of December 31, 2022 are:
General (including teachers,
executives, and elected officials) 6.50% 6.50%
Protective with Social Security 6.50% 12.04%
Protective without Social Security 6.50% 16.40%
Pension Liabilities (Assets), Pension Expense (Revenue), and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions
At December 31, 2022, the City reported an asset of $27,953,481 for its proportionate share of the net pension
asset. The net pension asset was measured as of December 31, 2021, and the total pension liability used to
calculate the net pension asset was determined by an actuarial valuation as of December 31, 2020, rolled forward
to December 31, 2021. 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 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, 2021, the City’s proportion was .34680947%, which was an increase of 0.00355767% from its proportion
measured as of December 31, 2020.
For the year ended December 31, 2022, the City recognized a reduction of pension expense of $2,415,025.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
48
Note 10 - Defined Benefit Pension Plan (Continued)
At December 31, 2022, the City reported deferred outflows of resources and deferred inflows of resources related
to pension from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences 45,157,436$ 3,256,338$
Changes in assumptions 5,215,163 -
Net differences between projected
and actual earnings on pension plan
investments - 62,534,263
Changes in proportion and
differences between employer
contributions and proportionate share
of contributions 30,793 18,270
Employer contributions subsequent
to the measurement date 4,265,639 -
Total 54,669,031$ 65,808,871$
The $4,265,639 reported as deferred outflows related to pension resulting from the WRS Employer’s contributions
subsequent to the measurement date will be recognized as an adjustment of the net pension liability (asset) in the
year ending December 31, 2023. Other amounts reported as deferred outflows of resources and deferred inflows
of resources related to pension will be recognized in pension expense as follows:
Year Ending
December 31,
Net Deferred
Outflows
(Inflows) of
Resources
2023 (1,309,603)$
2024 (7,570,653)
2025 (3,327,310)
2026 (3,197,913)
(15,405,479)$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
49
Note 10 - Defined Benefit Pension Plan (Continued)
Actuarial Assumptions. The total pension liability in the December 31, 2021 actuarial valuation was determined using
the following actuarial assumptions, applied to all periods included in the measurement:
Actuarial Valuation Date: December 31, 2020
Measurement Date of Net Pension Liability (Asset): December 31, 2021
Actuarial Cost Method: Entry Age Normal
Asset Valuation Method: Fair Value
Long-Term Expected Rate of Return: 6.8%
Discount Rate: 6.8%
Salary Increases:
Inflation
Seniority/Merit
3.0%
0.1% - 5.6%
Mortality: 2020 WRS Experience Mortality Table
Post-retirement Adjustments* 1.7%
* No post-retirement adjustment is guaranteed. Actual adjustments are based on recognized investment return, actuarial experience and other factors.
1.7% 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 2021 that covered a three-year period from
January 1, 2018 to December 31, 2020. Based on this experience study, actuarial assumptions used to measure the
total pension liability changed from prior year, including the discount rate, long-term expected rate of return, post-
retirement adjustment, price inflation, mortality and separation rates. The total pension liability for December 31, 2021,
is based upon a roll-forward of the liability calculated from the December 31, 2020 actuarial valuation.
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 geometric real rates of return for each major asset class are summarized in the following table:
Asset Allocation Targets and Expected Returns1
Core Fund Asset Class
Asset
Allocation %
Long-Term
Expected
Nominal Rate
of Return %
Long-Term
Expected
Real Rate of
Return %2
Global Equities 52% 6.8% 4.2%
Fixed Income 25 4.3 1.8
Inflation Sensitive Assets 19 2.7 0.2
Real Estate 7 5.6 3.0
Private Equity/Debt 12 9.7 7.0
Total Core Fund3 115% * 6.6% 4.0%
Variable Fund Asset Class
U.S. Equities 70% 6.3% 3.7%
International Equities 30 7.2 4.6
Total Variable Fund 100% 6.8% 4.2%
1Asset Allocations are managed within established ranges; target percentages may differ from actual monthly allocations.
2New England Pension Consultants Long Term US CPI (Inflation) Forecast: 2.5%.
3The investment policy used for the Core Fund involves reducing equity exposure by leveraging lower-volatility assets, such as fixed income securities.
This results in an asset allocation beyond 100%. Currently, an asset allocation target of 15% policy leverage is used, subject to an allowable range of
up to 20%.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
50
Note 10 - Defined Benefit Pension Plan (Continued)
Single Discount Rate. A single discount rate of 6.8% was used to measure the total pension liability, as opposed to a
discount rate of 7.0% for the prior year. This single discount rate is based on the expected rate of return on pension
plan investments of 6.80% and a municipal bond rate of 1.84% (Source: Fixed-income municipal bonds with 20 years
to maturity that include only federally tax-exempt municipal bonds as reported in Fidelity Index’s “20-year Municipal GO
AA Index” as of December 31, 2021. In describing this index, Fidelity notes that the Municipal Curves are constructed
using option-adjusted analytics of a diverse population of over 10,000 tax exempt securities.). Because of the unique
structure of WRS, the 6.8% expected rate of return implies that a dividend of approximately 1.7% 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 member 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 municipal bond rate of return on pension plan investments was applied to all
periods of projected benefit payments to determine the total pension liability.
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 6.80 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 (5.80 percent) or 1-percentage-point
higher (7.80 percent) than the current rate:
1% Decrease to
Discount Rate
(5.80%)
Current
Discount Rate
(6.80%)
Discount Rate
(7.80%)
City's proportionate share of the net
pension liability (asset)19,834,977$ (27,953,481)$ (62,352,279)$
Pension Plan Fiduciary Net Position. Detailed information about the pension plan’s fiduciary net position is
available in separately issued financial statements available at https://etf.wi.gov/about-etf/reports-and-
studies/financial-reports-and-statements.
Payables to the Pension Plan. The City is required to remit the monthly required contribution for both the
employee and City portions by the last day of the following month. The amount due to WRS as of December 31,
2022, is $596,070 for December payroll.
Note 11 - Post-Employment Benefits Other Than Pension Benefits
The City reports OPEB related balances at December 31, 2022 as summarized below:
$ 4,411,181 $ 1,538,113 $ 462,784
7,882,129 5,570,960 4,124,963
Local Retiree Life Insurance Fund (LRIF)
Single-Employer Defined OPEB Plan
Net OPEB Liability $ 12,293,310 $ 7,109,073 $ 4,587,747
OPEB Deferred Outflows Deferred Inflows
Liability of Resources of Resources
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
51
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
1. Local Retiree Life Insurance Fund Defined Postemployment Benefit Plan
General Information About the Other Post-Employment Benefits Plan
Plan Description. The LRLIF is a multiple-employer defined benefit OPEB plan. LRLIF benefits and other plan
provisions are established by Chapter 40 of the Wisconsin Statutes. The Wisconsin Department of Employee Trust
Funds (ETF) and the Group Insurance Board have statutory authority for program administration and oversight. The
plan provides post-employment life insurance benefits for all eligible members.
OPEB Plan Fiduciary Net Position. ETF issues a standalone Annual Comprehensive Financial Report (ACFR), which
can be found at https://etf.wi.gov/about-etf/reports-and-studies/financial-reports-and-statements.
Additionally, ETF issued a standalone Retiree Life Insurance Financial Report, which can also be found using the link
above.
Benefits Provided. The LRLIF plan provides fully paid up life insurance benefits for post-age 64 retired members and
pre-65 retirees who pay for their coverage.
Contributions. The Group Insurance Board approves contribution rates annually, based on recommendations from
the insurance carrier. Recommended rates are based on an annual valuation, taking into consideration an estimate of
the present value of future benefits and the present value of future contributions. A portion of employer contributions
made during a member’s working lifetime funds a post-retirement benefit. Employers are required to pay the following
contributions based on member contributions for active members to provide them with Basic Coverage after age 65.
There are no employer contributions required for pre-age 65 annuitant coverage. If a member retires prior to age 65,
they must continue paying the member premiums until age 65 in order to be eligible for the benefit after age 65.
Contribution rates as of December 31, 2022 are:
50% Post Retirement Coverage 40% of Member Contribution
25% Post Retirement Coverage 20% of Member Contribution
Member contributions are based upon nine age bands through age 69 and an additional eight age bands for those
age 70 and over. Participating members must pay monthly contribution rates per $1,000 of coverage until the age of
65 (age 70 if active). The member contribution rates in effect for the year ended December 31, 2021 are as listed
below:
Life Insurance
Member Contribution Rates *
Under 30 $ 0.05
30-34 0.06
35-39 0.07
40-44 0.08
45-49 0.12
50-54 0.22
55-59 0.39
60-64 0.49
65-69 0.57
* Disabled members under age 70 receive a waiver-of-premium
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
52
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
During the reporting period, the Plan recognized $14,116 in contributions from the employer.
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to OPEBs
At December 31, 2022, the City reported a liability of $4,411,181 for its proportionate share of the net OPEB
liability. The net OPEB liability was measured as of December 31, 2021, and the total OPEB liability used to
calculate the net OPEB liability was determined by an actuarial valuation as of December 31, 2020 rolled forward
to December 31, 2021. 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 OPEB liability was based on the City’s
share of contributions to the OPEB plan relative to the contributions of all participating employers. At December
31, 2021, the City’s proportion was 0.74634600%, which was an increase of 0.00814600% from its proportion
measured as of December 31, 2020.
For the year ended December 31, 2022, the City recognized OPEB expense of $570,450.
At December 31, 2022, the City reported deferred outflows of resources and deferred inflows of resources related
to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences -$ 224,396$
Changes in assumptions 1,332,770 213,812
and actual earnings on plan
investments 57,392 -
Changes in proportion and
differences between employer
contributions and proportionate
share of contributions 133,835 24,576
Employer contributions subsequent
to the measurement date 14,116 -
Total 1,538,113$ 462,784$
The $14,116 reported as deferred outflows related to OPEB resulting from the WRS Employer’s contributions
subsequent to the measurement date will be recognized as an adjustment of the net OPEB liability in the year
ending December 31, 2023.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
53
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will
be recognized in OPEB expense as follows:
Year Ending
December 31,
Net Deferred
Outflows
(Inflows) of
Resources
2023 238,352$
2024 231,694
2025 209,393
2026 254,146
2027 122,292
Thereafter 5,336
1,061,213$
Actuarial Assumptions. The total OPEB liability in the January 1, 2021, actuarial valuation was determined using the
following actuarial assumptions, applied to all periods included in the measurement:
Actuarial Valuation Date: January 1, 2021
Measurement Date of Net OPEB Liability: December 31, 2021
Experience Study: January 1, 2018 - December 31, 2020, Published
November 19, 2021
Actuarial Cost Method: Entry Age Normal
20 Year Tax-Exempt Municipal Bond Yield: 2.06%
Long-Term Expected Rate of Return: 4.25%
Discount Rate: 2.17%
Salary Increases:
Wage Inflation
Seniority/Merit
3.00%
0.1% - 5.6%
Mortality: 2020 WRS Experience Mortality Table
Actuarial assumptions are based upon an experience study conducted in 2021 that covered a three-year period from
January 1, 2018 to December 31, 2020. Based on this experience study, actuarial assumptions used to measure the
total OPEB liability changed from the prior year, including the price inflation, mortality and separation rates. The total
OPEB liability for December 31, 2021 is based upon a roll-forward of the liability calculated from the January 1, 2021
actuarial valuation.
Long-term Expected Return on Plan Assets. The long-term expected rate of return is determined by adding expected
inflation to expected long-term real returns and reflecting expected volatility and correlation. Investments for the LRLIF
are held with Securian, the insurance carrier. Interest is calculated and credited to the LRLIF based on the rate of return
for a segment of the insurance carriers’ general fund, specifically 10-year A- Bonds (as a proxy, and not tied to any
specific investments). The overall aggregate interest rate is calculated using a tiered approach based on the year the
funds were originally invested and the rate of return for that year. Investment interest is credited based on the aggregate
rate of return and assets are not adjusted to fair market value. Furthermore, the insurance carrier guarantees the
principal amounts of the reserves, including all interest previously credited thereto.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
54
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
State OPEB Life Insurance
Asset Allocation Targets and Expected Returns
As of December 31, 2021
Asset Class
Index
Target
Allocation
Long-Term
Expected
Geometric
Real Rate of
Return %
U.S. Intermediate Credit Bonds Bloomberg U.S.
Intermediate Credit
45% 1.68%
U.S. Long Credit Bonds Bloomberg U.S. Long
Credit
5 1.82
U.S. Mortgages Bloomberg U.S. MBS 50 1.94
Inflation
2.30
Long-Term Expected Rate of Return
4.25
The long-term expected rate of return remained unchanged from the prior year at 4.25%. The long-term expected rate
of return is determined by adding expected inflation to expected long-term real returns and reflecting expected volatility
and correlation. The expected inflation rate increased from 2.20% as of December 31, 2020 to 2.30% as of December
31, 2021.
Single Discount Rate. A single discount rate of 2.17% was used to measure the total OPEB liability for the current
year, as opposed to a discount rate of 2.25% for the prior year. The significant change in the discount rate was primarily
caused by the decrease in the municipal bond rate from 2.12% as of December 31, 2020 to 2.06% as of December 31,
2021. The Plan’s fiduciary net position was projected to be insufficient to make all projected future benefit payments of
current active and inactive members. Therefore, the discount rate for calculating the total OPEB liability is equal to the
single equivalent rate that results in the same actuarial present value as the long-term expected rate of return applied
to benefit payments, to the extent that the plan’s fiduciary net position is projected to be sufficient to make projected
benefit payments, and the municipal bond rate applied to benefit payment to the extent that the plan’s fiduciary net
position is projected to be insufficient. The plan’s fiduciary net position was projected to be available to make projected
future benefit payments of current plan members through December 31, 2036.
The projection of cash flows used to determine the single discount rate assumed that employer contributions will be
made according to the current employer contribution schedule and that contributions are made by plan members retiring
prior to age 65.
Sensitivity of the City’s Proportionate Share of the Net OPEB Liability to Changes in the Discount Rate. The
following presents the City’s proportionate share of the net OPEB liability calculated using the discount rate of 2.17
percent, as well as what the City’s proportionate share of the net OPEB liability would be if it were calculated using
a discount rate that is 1-percentage-point lower (1.17 percent) or 1-percentage-point higher (3.17 percent) than the
current rate:
1% Decrease to
Discount Rate
(1.17%)
Current Discount
Rate (2.17%)
1% Increase to
Discount Rate
(3.17%)
City's proportionate share of the
net OPEB liability 5,984,382$ 4,411,181$ 3,227,412$
Payables to the OPEB Plan. The City is required to remit the monthly required contribution for both the employee
and City portions by the last day of the following month. There was no amount due for the life insurance plan at
December 31, 2022.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
55
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
2. Single-Employer Defined Postemployment Benefit Plan
Plan Description. The Plan is a single employer defined benefit postemployment health plan. City provides medical
coverage (including prescription drugs) and dental coverage for retired employees through the City’s self-insure
plans. Retirees may continue in the plan by paying 100% of the premium until the retiree is eligible for Medicare.
Employees Covered by Benefit Terms. As of the December 31, 2022 actuarial valuation, the following employees
were covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefit payments 29
Active employees 591
Total Participants 620
Contributions. Retired plan members and beneficiaries currently receiving benefits are required to contribute
towards the cost of insurance premiums based on the employee group and their retirement date.
Total OPEB Liability. City’s total OPEB liability was measured as of December 31, 2021 and was determined by
an actuarial valuation as of December 31, 2022.
Actuarial Assumptions. The total OPEB liability in the December 31, 2021, actuarial valuation was determined
using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise
specified:
Inflation 3.00%
Salary Increases:
Inflation 3.00%
Seniority/Merit .4 to 4.8%
Discount Rate: 2.06%
Healthcare Trend Rates: 6.0% for 2021 Decreasing to an Ultimate
Rate of 3.70% After 53 Years
Mortality rates are based on the Wisconsin 2018 Mortality table.
The actuarial assumptions that determined the total OPEB liability as of December 31, 2021 were based on the results
of an actuarial experience study for the period 2018-2020 for the Wisconsin Retirement System (WRS).
Discount Rate. The discount rate used to measure the total OPEB liability was 2.06%, which is based on the Bond
Buyer GO 20-year Municipal Bond Index as of the week of the measurement date. The discount rate used in the January
1, 2018 actuarial valuation was 4.10%. No assets have been accumulated in an irrevocable trust, so the Bond Buyer
GO 20-year Municipal Bond Index has been applied to all periods.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
56
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Changes in the Total OPEB Liability:
Total OPEB
Liability
(a)
Balance at 12/31/2020 $ 5,942,226
Changes for the Year:
Service Cost 417,357
Interest 132,679
Differences Between Expected and Actual
Experiences (3,293,801)
Changes of Assumptions or Other Input 4,887,014
Benefit Payments (203,346)
Net Changes 1,939,903
Balance at 12/31/2021 $ 7,882,129
Sensitivity of the Total OPEB Liability to Changes in the Discount Rate. The following presents the total OPEB
liability of City, as well as what City’s total OPEB liability would be if it were calculated using a discount rate that is 1-
percentage-point lower (1.06%) or 1-percentage-point higher (3.06%) than the current rate:
1% Decrease
(1.06%)Rate (2.06%)
1% Increase
(3.06%)
$$$Total OPEB Liability 8,394,335 7,882,129 7,158,832
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates. The following presents
the total OPEB liability of City, as well as what City’s total OPEB liability would be if it were calculated using healthcare
cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend
rates:
1% Decrease to
to 2.7%)
Healthcare Cost
Trend Rates
to 3.7%)
1% Increase
to 4.7%)
$$$Total OPEB Liability 7,010,202 7,882,129 8,906,812
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
57
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
For the year ended December 31, 2021, City recognized OPEB expense of $716,238. At December 31, 2022, City
reported deferred outflows and inflows of resources related to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences 915,686$ 2,946,720$
Changes in assumptions 4,655,274 1,178,243
Total 5,570,960$ 4,124,963$
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be
recognized in OPEB expense as follows:
Year Ending
December 31,
Net Deferred
Outflows
(Inflows) of
Resources
2023 166,202$
2024 166,202
2025 166,202
2026 166,202
2027 156,111
Thereafter 625,078
1,445,997$
Payable to the OPEB Plan. At December 31, 2022, City did not report a payable for the outstanding amount of
contribution to the OPEB Plan required.
Note 12 - Tax Incremental Financing Districts
The City has established separate capital projects funds for the Tax Incremental Financing Districts (TID) created by
the City in accordance with Section 66.1105 of the Wisconsin Statutes. At the time the TID’s were created, the property
tax base within each TID was “frozen” and increment taxes resulting from increases to the property tax base are used
to finance TID improvements, including principal and interest on long-term debt issued by the City to finance such
improvements. State Statutes allow a tax incremental district to incur eligible project costs up to five years from the
maximum termination date.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
58
Note 12 - Tax Incremental Financing Districts (Continued)
The intent of the City is to recover the above amounts from future TID surplus funds, if any, prior to termination of the
respective TID’s. Unless terminated by the City prior thereto, each TID has a statutory termination year as follows:
Termination
Date
TID No.12 04/24/24
TID No.13 09/22/25
TID No.14 06/13/27
TID No.15 01/09/28
TID No.16 05/22/28
TID No.17 09/25/28
TID No.18 07/09/29
TID No.19 05/13/26
TID No.20 07/12/32
TID No.21 02/14/33
TID No.23 06/09/29
TID No.24 02/23/37
TID No.25 05/22/39
TID No.26 02/26/33
TID No.27 07/08/34
TID No.28 06/14/43
TID No.29 07/12/43
TID No.30 08/23/43
TID No.31 02/28/45
TID No.32 05/23/44
TID No.33 07/11/44
TID No.34 01/23/39
TID No.35 01/23/46
TID No.36 06/11/46
TID No.37 07/23/46
TID No.38 09/24/46
TID No.39 01/14/48
TID No.40 02/09/49
TID No.41 10/12/50
TID No.42 04/26/44
TID No.43 06/28/44
Tax Abatements
The City has entered into agreements within some of the Districts that 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, 2022, the City abated property taxes of $2,814,277 under this program which
include the following tax abatement agreements:
A property tax abatement of $304,208 to a developer within Tax Incremental District No. 14.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
59
Note 12 - Tax Incremental Financing Districts (Continued)
A property tax abatement of $65,071 to a developer within Tax Incremental District No. 21.
A property tax abatement of $236,278 to a developer within Tax Incremental District No. 24.
A property tax abatement of $6,845 to a developer within Tax Incremental District No. 25.
A property tax abatement of $40,535 to a developer within Tax Incremental District No. 28.
A property tax abatement of $32,988 to a developer within Tax Incremental District No. 30.
A property tax abatement of $498,143 to a developer within Tax Incremental District No. 31.
A property tax abatement of $12,814 to a developer within Tax Incremental District No. 32.
A property tax abatement of $219,328 to a developer within Tax Incremental District No. 33.
A property tax abatement of $1,097,389 to a developer within Tax Incremental District No. 34.
A property tax abatement of $110,011 to a developer within Tax Incremental District No. 36.
A property tax abatement of $190,667 to a developer within Tax Incremental District No. 37.
Note 13 - Risk Management
The City is exposed to various risks of loss related to torts; theft of, damage to, or destruction of assets; errors and
omissions; injuries to employees; employee health claims; unemployment compensation claims; and environmental
damage for which the City purchases commercial insurance. There has been no reduction in insurance coverage from
the prior year. Insurance settlements for claims resulting from the risks covered by commercial insurance have not
exceeded the insurance coverage in the past year.
Note 14 - Health and Dental Self-Insurance Fund
The City maintained a self-insured medical care coverage plan for its employees through December 31, 2015. It has
also maintained a self-insured dental plan since 2020. In 2016, the City began purchasing health coverage from an
outside carrier. The City has established the Health Insurance Fund (an internal service fund) to account for the
financing of its uninsured risk of loss. On January 1, 2022, the City went back to a self-insurance plan.
The Employee Benefits Fund has an established reserve of $2,363,409 at December 31, 2022 and is reported as the
net position of the Internal Service Fund. This reserve will be used to finance claims in 2023 and the future self-
insurance claims. City employees, retirees and employee dependents are eligible for medical and dental benefits from
the health insurance fund. Funding is provided by charges to City departments and employees. Fund expenses consist
of payments to a third-party administrator for medical and dental claims, stop loss insurance premiums and admin fees.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2022
60
Note 14 - Health and Dental Self-Insurance Fund (Continued)
The claims liability of $2,534,299, reported in the fund at December 31, 2022, is based on the requirements of the
Governmental Accounting Standards Board Statement (GASB) No. 10, which requires that a liability for claims be
reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has
been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Changes
in the fund’s health claims liability amount are as follows:
2022 $ - $ 8,188,694 $ 5,690,069 $ 2,498,625
Beginning-of-
Fiscal Year
Liaibility
Current-Year
Claims and
Changes in
Estimates
Claim
Payments
Balance at
Fiscal Year-
End
Changes in the fund’s Dental claims liability amount are as follows:
2022 $ - $ 472,053 $ 436,379 $ 35,674
Beginning-of-
Fiscal Year
Liaibility
Current-Year
Claims and
Changes in
Estimates
Claim
Payments
Balance at
Fiscal Year-
End
Note 15 - Commitments and Contingencies
The City received federal and state grants for specific purposes that are subject to review and audit by the grantor
agencies. Such audits could lead to requests for reimbursements to the grantor for expenditures disallowed under
terms of the grants. The City believes such disallowances, if any, would be immaterial.
From time to time the City is involved in legal actions and claims, most of which normally occur in governmental
operations. In the opinion of City management, these issues, and any other proceedings known to exist at
December 31, 2022, are not likely to have a material adverse impact on the City’s financial position.
Note 16 - Basis For Utility Existing Rates
Water
Current water rates were approved by the PSCW subsequent to December 31, 2022 with an effective date of June 1,
2023.
Sewer
Current sewer rates were approved by the Utility commission with an effective date of February 1, 2021.
Note 17 - Subsequent Events
The City issued the following debt subsequent to December 31, 2022:
General obligation bonds, series 2023A, par amount of $6,325,000 issued on June 22, 2023 with interest
rates of 4.00 – 5.00% and a maturity date of June 1, 2043.
Stormwater Revenue Bonds - series 2023B, par amount of $5,650,000 issued on June 22, 2023 with
interest rates of 4.0 - 5.0% - maturity on May 1, 2043.
Water Revenue Bonds – 2023C, par amount of $6,935,000 issued on June 22, 2023 with interest rates of
4.0 – 5.00% and a maturity date of January 1, 2043.
REQUIRED SUPPLEMENTARY INFORMATION
City's Proportionate
City's City's Share of the Plan Fiduciary
WRS Fiscal Proportion Proportionate Net Pension Net Position
Year End Date of the Net Share of the City's Asset/Liability as a Percentage
(Measurement Pension Net Pension Covered as a Percentage of of the Total Pension
Date) Asset/Liability (Asset)/Liability Payroll Covered Payroll Liability
12/31/2021 0.34680947% (27,953,481)$ 40,712,360$ 68.66%106.02%
12/31/2020 0.34325180% (21,429,686) 39,367,936 54.43%105.26%
12/31/2019 0.34044120% (10,977,387) 37,849,360 29.00%102.96%
12/31/2018 0.33514980% 11,923,578 37,018,001 32.21%96.45%
12/31/2017 0.32543566% (9,662,570) 36,243,909 26.66%102.93%
12/31/2016 0.31987366% 2,636,523 35,129,816 7.51%99.12%
12/31/2015 0.31657015% 5,144,203 34,050,370 15.11%98.20%
12/31/2014 0.31842486% (7,821,386) 34,551,515 22.64%102.74%
Contributions in
Relation to the Contributions
Contractually Contractually Contribution as a Percentage
City Required Required Deficiency Covered of Covered
Year End Date Contributions Contributions (Excess)Payroll Payroll
12/31/2022 4,265,639$ 4,265,639$ -$ 42,455,750$ 10.05%
12/31/2021 4,083,340 4,083,340 - 40,712,361 10.03%
12/31/2020 3,794,808 3,794,808 - 39,367,936 9.64%
12/31/2019 3,553,329 3,553,329 - 37,849,360 9.39%
12/31/2018 3,515,255 3,515,255 - 37,018,001 9.50%
12/31/2017 3,446,908 3,446,908 - 36,243,909 9.51%
12/31/2016 3,073,752 3,073,752 - 35,129,816 8.75%
12/31/2015 3,014,493 3,014,493 - 34,050,370 8.85%
CITY OF OSHKOSH, WISCONSIN
Schedule of Employer's Proportionate Share of the Net Pension Liability (Asset)
Wisconsin Retirement System (WRS)
Schedule of Employer Contributions
Wisconsin Retirement System (WRS)
See Accompanying Notes to Required Supplementary Information
61
City's Proportionate
City's City's Share of the Plan Fiduciary
WRS Fiscal Proportion Proportionate Net OPEB Net Position
Year End Date of the Net Share of the City's Liability as a Percentage
(Measurement OPEB Net OPEB Covered as a Percentage of of the Total
Date)Liability Liability Payroll Covered Payroll OPEB Liability
12/31/2021 0.74634600% $ 4,411,181 38,095,000$ 11.58%29.57%
12/31/2020 0.73820000% 4,060,633 38,252,000 10.62%31.36%
12/31/2019 0.69821100%2,973,118 36,228,000 8.21%37.58%
12/31/2018 0.71259100%1,838,727 37,018,001 4.97%48.69%
12/31/2017 0.71166700%2,141,107 36,243,909 5.91%44.81%
Contributions in
Relation to the Contributions
Contractually Contractually Contribution as a Percentage
City Required Required Deficiency Covered of Covered
Year End Date Contributions Contributions (Excess)Payroll Payroll
12/31/2022 14,116$ 14,116$ -$ 40,035,000$ 0.04%
12/31/2021 13,746 13,746 - 38,095,000 0.04%
12/31/2020 14,841 14,841 - 38,252,000 0.04%
12/31/2019 13,774 13,774 - 36,228,000 0.04%
12/31/2018 13,693 13,693 - 37,018,001 0.04%
CITY OF OSHKOSH, WISCONSIN
Schedule of Employer's Proportionate Share of the Net OPEB Liability
Other Post-Employment Benefits Other Than Pensions - Local Retiree Life Insurance Fund
Schedule of Employer Contributions
Other Post-Employment Benefits Other Than Pensions - Local Retiree Life Insurance Fund
See Accompanying Notes to Required Supplementary Information
62
Total OPEB Liability
Service Cost $ 417,357 $ 363,894 $ 306,053 $ 334,296 $ 301,541
Interest 132,679 153,353 217,806 180,345 179,462
Effect of economic/demographic gains or losses (3,293,801) - 1,344,242 - -
Changes of Assumptions or Other Input 4,887,014 276,841 (1,487,994) (288,188) 140,539
Benefit Payments (203,346) (168,477) (138,207) (119,000) (199,000)
Net Change in Total OPEB Liability
Total OPEB Liability - Beginning
Total OPEB Liability - Ending
Covered-Employee Payroll $ 39,150,924 $ 39,150,924 $ 39,150,924 $ 38,695,522 $ 37,913,920
City's Total OPEB Liability as a Percentage of
Covered-Employee Payroll 20.13%15.18%13.58%13.11%13.10%
*Ten years of data will be accumulated beginning with 2018.
CITY OF OSHKOSH, WISCONSIN
Schedule of Change in Total OPEB Liability and Related Ratios
Last 10 Measurement Years*
2021 2020 2019 20182022
See Accompanying Notes to Required Supplementary Information
63
REVENUES
Taxes $ 22,532,500 $ 22,532,500 $ 22,570,153 $ 37,653
Intergovernmental 16,645,800 16,645,800 16,789,755 143,955
Licenses and Permits 951,100 951,100 808,548 (142,552)
Fines, Forfeitures and Penalties 862,000 862,000 573,152 (288,848)
Public Charges for Services 3,180,900 3,180,900 4,350,057 1,169,157
Intergovernmental Charges for Services 2,971,400 2,971,400 3,125,718 154,318
Investment Income 300,000 300,000 617,077 317,077
Miscellaneous 695,000 695,000 625,029 (69,971)
Total Revenues 48,138,700 48,138,700 49,459,489 1,320,789
EXPENDITURES
Current:
General Government 7,727,810 7,818,305 7,337,929 480,376
Public Safety 30,674,682 30,717,619 31,205,746 (488,127)
Public Works 5,357,100 5,405,305 5,087,553 317,752
Transportation 726,000 726,000 717,540 8,460
Culture and Recreation 2,522,500 2,552,190 2,446,274 105,916
Conservation and Development 2,088,900 2,091,400 2,009,205 82,195
Unclassified 618,700 629,791 487,363 142,428
Capital Outlay 23,800 20,090 8,852 11,238
Total Expenditures 49,739,492 49,960,700 49,300,462 660,238
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (1,600,792) (1,822,000) 159,027 1,981,027
OTHER FINANCING SOURCE (USE)
Transfers In 1,542,600 1,542,600 1,542,600 -
Transfers Out (1,142,500) (592,500) (843,552) (251,052)
Total Other Financing Source (Use)400,100 950,100 699,048 (251,052)
NET CHANGE IN FUND BALANCE (1,200,692) (871,900) 858,075 1,729,975
FUND BALANCE - BEGINNING 19,229,571 19,229,571 19,229,571 -
FUND BALANCE - ENDING $ 18,028,879 $ 18,357,671 $ 20,087,646 $ 1,729,975
Budget to Actual
Schedule of Budgetary Comparison
CITY OF OSHKOSH, WISCONSIN
(Negative)
Variance with
Positive
Final Budget
For the Year Ended December 31, 2022
General Fund
Amounts
Actual
Original Final
Budgeted Amounts
See Accompanying Notes to Required Supplementary Information
64
65
CITY OF OSHKOSH, WISCONSIN
Notes to Required Supplementary Information
For the Year Ended December 31, 2022
Defined Benefit Pension Plan
Changes of benefit terms. There were no changes of benefit terms for any participating employer in WRS.
Changes of assumptions.
Based on a three-year experience study conducted in 2021 covering January 1, 2018 through December 31, 2020, the
ETF Board adopted assumption changes that were used to measure the total pension liability beginning with the year-
end December 31, 2021, including the following:
• Lowering the long-term expected rate of return from 7.0% to 6.8%
• Lowering the discount rate from 7.0% to 6.8%
• Lowering the price inflation rate from 2.5% to 2.4%
• Lowering the post-retirement adjustments from 1.9% to 1.7%
• Mortality assumptions were changed to reflect updated trends by transitioning from the Wisconsin 2018 Mortality
Table to the 2020 WRS Experience Mortality Table.
Post-Employment Benefits Other Than Pension Benefits – Local Retiree Life Insurance Plan
Changes of benefit terms. There were no recent changes in benefit terms.
Changes of assumptions.
In addition to the rate changes detailed in the tables above, the State of Wisconsin Employee Trust Fund Board adopted
economic and demographic assumption changes based on a three year experience study performed for the Wisconsin
Retirement System. These assumptions are used in the actuarial valuations of OPEB liabilities (assets) for the retiree
life insurance programs and are summarized below.
The assumption changes that were used to measure the December 31, 2021 total OPEB liabilities, including
the following:
• Lowering the price inflation rate from 2.5% to 2.4%
• Mortality assumptions were changed to reflect updated trends by transitioning from the Wisconsin 2018 Mortality
Table to the 2020 WRS Experience Mortality Table.
Post-Employment Benefits Other Than Pension Benefits – Single-Employer Plan
Changes of benefit terms. There were no recent changes in benefit terms.
Changes of assumptions.
The Discount rate changed from 2.12% to 2.06%.
66
CITY OF OSHKOSH, WISCONSIN
Notes to Required Supplementary Information
For the Year Ended December 31, 2022
Budgetary Process
The City follows these procedures in establishing the budgetary data reflected in the budgetary comparison schedule:
During November, City management submits to the Common Council a proposed operating budget for the calendar
year commencing the following January 1. The operating budget includes proposed expenditures and the means of
financing them. After submission to the governing body, public hearings are held to obtain taxpayer comments.
Following the public hearings, the proposed budget, including authorized additions and deletions, is legally enacted
by Common Council action.
Budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of
America for the general fund, certain special revenue funds, debt service funds, and certain capital projects funds.
Budget is defined as the originally approved budget plus or minus approved amendments. Budget appropriations not
expended during the year are closed to fund balance unless authorized by the governing body to be forwarded into
the succeeding year’s budget.
During the year, formal budgetary integration is employed as a management control device for the general fund,
certain special revenue funds, debt service funds, and certain capital projects funds.
Expenditures may not exceed appropriations provided in detailed budget accounts maintained for each department
of the City. Amendments to the budget during the year require initial approval by management and are subsequently
authorized by the Common Council.
Excess of Actual Expenditures Over Budget
The following fund had an excess of actual expenditures over budget for the year ended December 31, 2022:
Excess
General Fund Expenditures
Public Safety $ 488,127
SUPPLEMENTARY INFORMATION
2022
ASSETS
Cash and Investments $ 30,177,240 $ 35,117,458 $ 12,115,454 $ 77,410,152 $ 68,991,739
Receivables:
Accounts Receivable 807,824 76,651 - 884,475 378,871
Taxes 4,577,256 5,262,196 - 9,839,452 8,911,261
Interest 42,617 1,035 - 43,652 29,127
Loans 5,442,607 605,000 - 6,047,607 5,398,583
Deposits with GO HNI 213,769 - - 213,769 212,933
Due from Other Funds 756,231 12,033,296 - 12,789,527 10,716,781
Total Assets $ 42,017,544 $ 53,095,636 $ 12,115,454 $ 107,228,634 $ 94,639,295
LIABILITIES
Accounts Payable $ 508,373 $ 4,502,401 $ 1,594 $ 5,012,368 $ 2,091,984
Due to Other Funds 625,078 12,033,296 131,153 12,789,527 10,716,781
Deposits from Others 50 360,485 - 360,535 319,330
Unearned Revenue:
American Rescue Plan Act Funds 17,312,024 - - 17,312,024 9,300,339
Total Liabilities 18,445,525 16,896,182 132,747 35,474,454 22,428,434
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 7,119,900 8,232,627 - 15,352,527 14,480,969
FUND BALANCES
Nonspendable - - 3,646,101 3,646,101 3,646,101
Restricted 7,782,987 11,546,889 8,336,606 27,666,482 26,660,711
Committed 8,651,100 - - 8,651,100 8,317,413
Assigned 94,449 28,357,771 - 28,452,220 29,584,851
Unassigned (Deficits) (76,417) (11,937,833) - (12,014,250) (10,479,184)
Total Fund Balances 16,452,119 27,966,827 11,982,707 56,401,653 57,729,892
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $ 42,017,544 $ 53,095,636 $ 12,115,454 $ 107,228,634 $ 94,639,295
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
December 31, 2022
With Summarized Information From December 31, 2021
Special
Revenue
Capital
Projects
Totals
Permanent 2021
67
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
ASSETS
Cash and Investments $ 191,688 $113,898 $1,858,086 $683,501 $1,182,847 $1,590,955 $349,968 $- $221,280 $775,530 $155,571 $322,211
Receivables:
Accounts Receivable 8,558 2,686 151 - 108 1,643 51 732,662 - - 1,255 -
Taxes 227,259 - - 658,954 1,795,377 623,596 205,015 - - - - -
Interest Receivable - - - - - - - - - 42,617 - -
Loans - - - - - - - 4,160,111 50,000 1,232,496 - -
Deposits with GO HNI - - - - - - - - - - - -
Due from Other Funds - - 625,078 - 21,153 90,000 - - - - - -
Total Assets $ 427,505 $ 116,584 $ 2,483,315 $ 1,342,455 $ 2,999,485 $ 2,306,194 $555,034 $ 4,892,773 $271,280 $2,050,643 $156,826 $ 322,211
LIABILITIES
Accounts Payable $6,031 $12,478 $52,439 $105,842 $60,305 $3,519 $- $10,607 $- $- $360 $7,152
Due to Other Funds - - - - - - - 550,709 - - - -
Deposits from Others - - 50 - - - - - - - - -
Unearned Revenues
American Rescue Plan Act Funds - - - - - - - - - - - -
Total Liabilities 6,031 12,478 52,489 105,842 60,305 3,519 - 561,316 - - 360 7,152
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 353,500 - - 1,025,000 2,792,700 970,000 318,900 - - - - -
FUND BALANCES (DEFICITS)
Restricted 67,974 104,106 - - - - - 4,331,457 271,280 2,050,643 - 315,059
Committed - - 2,430,826 211,613 146,480 1,332,675 236,134 - - - 156,466 -
Assigned - - - - - - - - - - - -
Unassigned (Deficits) - - - - - - - - - - - -
Total Fund Balances (Deficits)67,974 104,106 2,430,826 211,613 146,480 1,332,675 236,134 4,331,457 271,280 2,050,643 156,466 315,059
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)$ 427,505 $ 116,584 $ 2,483,315 $ 1,342,455 $ 2,999,485 $ 2,306,194 $555,034 $ 4,892,773 $271,280 $2,050,643 $156,826 $ 322,211
Police Special
Special Revenue Funds
Museum Cemetery
Community
Development
Block Grant
Neighborhood
Improvement
Loan Program
Senior
Services
Revolving
Loans
Local
Revolving
Loan ProgramSenior Center
Business
Improvement
District Recycling Street Lighting Library
68
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
Leach
Amphitheater
$341,383 $136,485 $575,159 $64,235 $- $661,716 $339,455 $3,108,119 $42,553 $17,462,600 $30,177,240
- - 42,061 325 - 3,517 - 14,807 - - 807,824
- - - 14,786 - 1,002,896 41,144 - 8,229 - 4,577,256
- - - - - - - - - - 42,617
- - - - - - - - - - 5,442,607
- - - - - - - 213,769 - - 213,769
- - - 20,000 - - - - - - 756,231
$ 341,383 $ 136,485 $ 617,220 $ 99,346 $ - $ 1,668,129 $ 380,599 $ 3,336,695 $ 50,782 $ 17,462,600 $ 42,017,544
$3,725 $45,444 $14,624 $4,445 $2,048 $28,353 $94,663 $211 $- $56,127 $508,373
- - - - 74,369 - - - - - 625,078
- - - - - - - - - - 50
- - - - - - - - - 17,312,024 17,312,024
3,725 45,444 14,624 4,445 76,417 28,353 94,663 211 - 17,368,151 18,445,525
- - - 23,000 - 1,560,000 64,000 - 12,800 - 7,119,900
337,658 91,041 - - - - - 213,769 - - 7,782,987
- - 602,596 71,901 - 79,776 221,936 3,122,715 37,982 - 8,651,100
- - - - - - - - - 94,449 94,449
- - - - (76,417) - - - - - (76,417)
337,658 91,041 602,596 71,901 (76,417) 79,776 221,936 3,336,484 37,982 94,449 16,452,119
$ 341,383 $ 136,485 $ 617,220 $ 99,346 $ - $ 1,668,129 $ 380,599 $ 3,336,695 $ 50,782 $ 17,462,600 $ 42,017,544
Community
Development
Special Special Events
Rental
Inspections
Total
Nonmajor
Special
Revenue
Funds
Pollock
Water Park
Park
Revenue
Facilities
Garbage
Collection
and Disposal
Special Revenue Funds
Fire Special
Public Works
Special
Healthy
Neighborhood
Initiatives
69
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$- $10,726,396 $168,482 $137,144 $6,904,203 $1,107,447 $2,809,936 $412,239 $2,000 $121,026 $-
- - - - 3,092 - 73,159 400 - - -
- - - - - 699,584 - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - 10,639,293 - - - - -
$ - $10,726,396 $168,482 $ 137,144 $ 6,907,295 $ 12,446,324 $2,883,095 $ 412,639 $ 2,000 $ 121,026 $ -
$- $- $152,788 $- $2,823,146 $616,352 $888,525 $- $- $- $4,104
2,047,250 - - - - - - - - - 87,527
- - - 137,144 222,341 - - - - - -
- - - - - - - - - - -
2,047,250 - 152,788 137,144 3,045,487 616,352 888,525 - - - 91,631
- - - - - 1,088,200 - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- 10,726,396 15,694 - 3,861,808 10,741,772 1,994,570 412,639 2,000 121,026 -
(2,047,250) - - - - - - - - - (91,631)
(2,047,250) 10,726,396 15,694 - 3,861,808 10,741,772 1,994,570 412,639 2,000 121,026 (91,631)
$ - $10,726,396 $168,482 $ 137,144 $ 6,907,295 $ 12,446,324 $2,883,095 $ 412,639 $ 2,000 $ 121,026 $ -
Contract
Control
Grand Opera
HouseEquipment
Street Tree
Memorial
Street
Improvement
Sidewalk
Construction Senior Center
Capital Projects Funds
Park
Improvement
and
Acquisition
Park
Subdivision
Improvement
Mct Rochlin
Park
Smokestack
Advance
Payments
Special
Assessment
70
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$483,577 $34,526 $53,496 $62,915 $848,221 $- $826,919 $3,035,722 $493,615 $- $-
- - - - - - - - - - -
- - - - 93,783 208,213 373,304 138,561 94,366 200,149 334,917
- - - - - - - - 1,035 - -
- - - - - - 555,000 - 50,000 - -
- - - - - - - - - - -
- - - - - - - - - 1,343,000 -
$ 483,577 $ 34,526 $ 53,496 $ 62,915 $942,004 $ 208,213 $ 1,755,223 $ 3,174,283 $ 639,016 $ 1,543,149 $ 334,917
$1,711 $- $- $- $- $- $- $- $- $- $-
- - - - - 547,782 - - - 679,483 472,745
- - - - - 1,000 - - - - -
- - - - - - - - - - -
1,711 - - - - 548,782 - - - 679,483 472,745
- - - - 145,879 323,874 580,672 215,531 146,786 311,330 520,962
- 34,526 53,496 62,915 796,125 - 1,174,551 2,958,752 492,230 552,336 -
- - - - - - - - - - -
481,866 - - - - - - - - - -
- - - - - (664,443) - - - - (658,790)
481,866 34,526 53,496 62,915 796,125 (664,443) 1,174,551 2,958,752 492,230 552,336 (658,790)
$ 483,577 $ 34,526 $ 53,496 $ 62,915 $942,004 $ 208,213 $ 1,755,223 $ 3,174,283 $ 639,016 $ 1,543,149 $ 334,917
Parking Ramp
Improvements
Capital Projects Funds
TIF No. 14
Mercy
Medical
Center
TIF No. 17 City
Centre
Redevelopment
TIF No. 13
Marion
Road/Pearl
Avenue
TIF No. 18 SW
Industrial Park
Expansion
TIF No. 15
Park Plaza/
Commerce
Street
TIF No. 16 100
Block
Redevelopment
TIF No. 8 S
Aviation
Industrial
TIF No. 10
Main and
Washington
TIF No. 11
Oshkosh
Office
Center
TIF No. 12
Division
Street
71
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$804,137 $3,098,794 $486,240 $- $208,046 $- $- $- $42,142 $21,212 $58,326
- - - - - - - - - - -
167,880 - 324,263 14,289 159,626 177,725 - 195,248 35,866 9,413 35,225
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
$ 972,017 $ 3,098,794 $ 810,503 $ 14,289 $ 367,672 $ 177,725 $ - $ 195,248 $ 78,008 $ 30,625 $ 93,551
$- $14,389 $- $- $- $1,140 $- $- $- $- $-
- - - 2,150,843 - 1,648,282 3,190,245 1,158,136 - - -
- - - - - - - - - - -
- - - - - - - - - - -
- 14,389 - 2,150,843 - 1,649,422 3,190,245 1,158,136 - - -
261,136 - 504,390 22,226 295,603 276,451 - 303,707 55,790 14,642 54,792
710,881 3,084,405 306,113 - 72,069 - - - 22,218 15,983 38,759
- - - - - - - - - - -
- - - - - - - - - - -
- - - (2,158,780) - (1,748,148) (3,190,245) (1,266,595) - - -
710,881 3,084,405 306,113 (2,158,780) 72,069 (1,748,148) (3,190,245) (1,266,595) 22,218 15,983 38,759
$ 972,017 $ 3,098,794 $ 810,503 $ 14,289 $ 367,672 $ 177,725 $ - $ 195,248 $ 78,008 $ 30,625 $ 93,551
Capital Projects Funds
TIF No. 24
Oshkosh
Corp E-Coat
TIF No. 25 City
Center Hotel
TIF No. 26
Aviation
Business Park
TIF No. 27
North Main
Street
Industrial
Park
TIF No. 28 Beach
Building
Redevelopment
TIF No. 29
Morgan
District
TIF No. 30
Washington
Building
TIF No. 23 SW
Industrial Park
Expansion
TIF No. 19
NW Industrial
Expansion
TIF No. 21
Fox River
Corridor
TIF No. 20 South
Shore
Redevelopment
72
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$219,261 $9,176 $315,458 $351,627 $1,092,920 $68,852 $89,423 $- $23,980 $-
- - - - - - - - - -
355,891 9,477 199,990 728,122 401,334 131,767 150,948 6,451 15,538 266
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - 51,003 - - - - -
$ 575,152 $ 18,653 $ 515,448 $ 1,079,749 $ 1,545,257 $ 200,619 $ 240,371 $6,451 $ 39,518 $ 266
$- $- $- $- $215 $- $- $- $- $31
- - - - - - - 5,662 - 9,072
- - - - - - - - - -
- - - - - - - - - -
- - - - 215 - - 5,662 - 9,103
553,587 14,742 311,083 1,132,590 624,273 204,963 234,799 10,035 24,170 414
21,565 3,911 204,365 - 920,769 - 5,572 - 15,348 -
- - - - - - - - - -
- - - - - - - - - -
- - - (52,841) - (4,344) - (9,246) - (9,251)
21,565 3,911 204,365 (52,841) 920,769 (4,344) 5,572 (9,246) 15,348 (9,251)
$ 575,152 $ 18,653 $ 515,448 $ 1,079,749 $ 1,545,257 $ 200,619 $ 240,371 $6,451 $ 39,518 $ 266
Capital Projects Funds
TIF No. 32
Granary
Redevelopment
TIF No. 33
Lamico
Redevelopment
TIF No. 34
Oshkosh Corp
Headquarters
TIF No. 40 Miles
Kimball
Redevelopment
TIF No. 35
Oshkosh Ave
Corridor
TIF No. 36 Merge
Redevelopment
TIF No. 38
Pioneer
Redevelopment
TIF No. 37
Aviation
Plaza
TIF No. 39 Cabrini
School
Redevelopment
TIF No. 31
Buckstaff
Redevelopment
73
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$- - - 35,117,458 65,294,698 56,436,824
- - - 76,651 884,475 378,708
- - - 5,262,196 9,839,452 8,911,261
- - - 1,035 43,652 29,127
- - - 605,000 6,047,607 5,398,583
- - - - 213,769 212,933
- - - 12,033,296 12,789,527 10,716,781
$- $- $- $ 53,095,636 $ 95,113,180 $ 82,084,217
- - - 4,502,401 5,010,774 2,091,984
10,779 2,825 22,665 12,033,296 12,658,374 10,361,798
- - - 360,485 360,535 319,330
- - - - 17,312,024 9,300,339
10,779 2,825 22,665 16,896,182 35,341,707 22,073,451
- - - 8,232,627 15,352,527 14,480,969
- - - 11,546,889 19,329,876 18,106,717
- - - - 8,651,100 8,317,413
- - - 28,357,771 28,452,220 29,584,851
(10,779) (2,825) (22,665) (11,937,833) (12,014,250) (10,479,184)
(10,779) (2,825) (22,665) 27,966,827 44,418,946 45,529,797
$- $- $- $ 53,095,636 $ 95,113,180 $ 82,084,217
2022
TIF No. 41 Smith
School
Redevelopment
Capital Projects Funds
Total Nonmajor Special Revenue
and Capital Projects Funds
Total Nomajor
Funds
TIF No. 43 Mill on
Main
TIF No. 42
Morgan Crossing
74
REVENUES
Taxes $ 7,026,100 $ 7,407,564 $- 14,433,664 $ 13,677,378
Special Assessments 140,610 - - 140,610 171,347
Intergovernmental 4,646,618 492,500 - 5,139,118 5,789,117
Licenses and Permits 131,622 - - 131,622 -
Public Charges for Services 1,824,308 27,605 - 1,851,913 2,037,151
Investment Income 169,116 - - 169,116 1,121,616
Donations 1,338,879 59,674 711,598 2,110,151 730,690
Miscellaneous 1,236,217 634,511 19,319 1,890,047 1,194,089
Total Revenues 16,513,470 8,621,854 730,917 25,866,241 24,721,388
EXPENDITURES
Current:
General Government - 46,849 629,525 676,374 59,961
Public Safety 488,382 106,342 - 594,724 597,967
Public Works 4,030,532 378,817 - 4,409,349 4,851,166
Health and Human Services 1,027,238 - - 1,027,238 975,653
Culture and Recreation 8,277,011 97,610 151,280 8,525,901 6,861,260
Conservation and Development 2,366,965 4,791,751 - 7,158,716 6,241,954
Debt Service
Principal 65,000 2,405,292 - 2,470,292 6,379,842
Interest 4,462 303,403 - 307,865 423,134
Capital Outlay 380,975 16,456,903 - 16,837,878 10,668,614
Total Expenditures 16,640,565 24,586,967 780,805 42,008,337 37,059,551
DEFICIENCY OF REVENUES
UNDER EXPENDITURES (127,095) (15,965,113) (49,888) (16,142,096) (12,338,163)
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - 13,950,900 - 13,950,900 16,966,844
Sale of Capital Assets - 44,405 - 44,405 30,729
Transfers In 661,052 325,000 - 986,052 2,243,118
Transfers Out - - (167,500) (167,500) (2,229,418)
Total Other Financing Sources (Use)661,052 14,320,305 (167,500) 14,813,857 17,011,273
NET CHANGE IN FUND BALANCES 533,957 (1,644,808) (217,388) (1,328,239) 4,673,110
FUND BALANCES - BEGINNING 15,918,162 29,611,635 12,200,095 57,729,892 53,056,782
FUND BALANCES - ENDING $ 16,452,119 $ 27,966,827 $ 11,982,707 $ 56,401,653 $ 57,729,892
Special
Revenue
Capital
Projects
Totals
Permanent 20212022
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
75
REVENUES
Taxes $ 353,500 $ - $- $ 1,025,000 $ 2,792,700 $ 970,000 $ 321,000 $- $ - $ - $ - $ -
Special Assessments - 140,610 - - - - - - - - - -
Intergovernmental 90,612 - 236,961 - 804,837 4,000 - 747,736 - - - 22,270
Licenses and Permits - - - - - - - - - - - -
Charges for Services 58 - 897,079 - 234,724 55,078 71,266 - - - - -
Investment Income - - - - - 7,840 - - - 66,119 - -
Donations 78,023 - - - - 199,407 59,657 - - - 20,033 322,384
Miscellaneous 62,928 92,519 121,739 - 250 71,657 1,155 368,219 - 266,190 35,294 -
Total Revenues 585,121 233,129 1,255,779 1,025,000 3,832,511 1,307,982 453,078 1,115,955 - 332,309 55,327 344,654
EXPENDITURES
Current:
General Government - - - - - - - - - - - -
Public Safety - - - - - - - - - - - 309,570
Public Works - - 875,633 1,057,734 - - - - - - - -
Health and Human Services 616,597 - - - - - 382,574 - - - 28,067 -
Culture and Recreation - - - - 3,990,842 1,246,416 - - - - - -
Conservation and Development - 215,805 - - - - - 1,195,204 - 250,000 - -
Debt Service
Principal - - - - 65,000 - - - - - - -
Interest - - - - 4,462 - - - - - - -
Capital Outlay - - - - - - - - - - 4,095 27,149
Total Expenditures 616,597 215,805 875,633 1,057,734 4,060,304 1,246,416 382,574 1,195,204 - 250,000 32,162 336,719
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (31,476) 17,324 380,146 (32,734) (227,793) 61,566 70,504 (79,249) - 82,309 23,165 7,935
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - - - - - - - - - - - -
Sale of Capital Assets - - - - - - - - - - - -
Transfers In - - - - - 98,200 49,300 - - - - -
Transfers Out - - - - - - - - - - - -
Total Other Financing Sources (Use)- - - - - 98,200 49,300 - - - - -
NET CHANGE IN FUND BALANCES (DEFICITS)(31,476) 17,324 380,146 (32,734) (227,793) 159,766 119,804 (79,249) - 82,309 23,165 7,935
FUND BALANCES (DEFICITS) - BEGINNING 99,450 86,782 2,050,680 244,347 374,273 1,172,909 116,330 4,410,706 271,280 1,968,334 133,301 307,124
FUND BALANCES (DEFICITS) - ENDING $ 67,974 $ 104,106 $ 2,430,826 $ 211,613 $ 146,480 $ 1,332,675 $ 236,134 $ 4,331,457 $ 271,280 $ 2,050,643 $ 156,466 $ 315,059
Senior Center Recycling
Business
Improvement
District LibraryStreet Lighting Museum Cemetery
Community
Development
Block Grant
Neighborhood
Improvement
Loan Program
Local Revolving
Loan Program
Senior
Services
Revolving
Loans Police Special
Special Revenue Funds
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
76
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Income
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Sale of Capital Assets
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES (DEFICITS)
FUND BALANCES (DEFICITS) - BEGINNING
FUND BALANCES (DEFICITS) - ENDING
$- $ - $ - $ 23,000 $ - $ 1,460,400 $ 64,000 $ - $ 16,500 $ - $ 7,026,100
- - - - - - - - - - 140,610
177,509 120,753 - - 196,384 - - - - 2,245,556 4,646,618
- - - - 131,622 - - - - - 131,622
- - 238,422 29,660 - 64,453 233,238 - 330 - 1,824,308
- - - - - - - 835 - 94,322 169,116
3,038 - 162,345 5,205 - - 488,787 - - - 1,338,879
- - 61,652 21,890 - - 45,356 87,368 - - 1,236,217
180,547 120,753 462,419 79,755 328,006 1,524,853 831,381 88,203 16,830 2,339,878 16,513,470
- - - - - - - - - - -
178,812 - - - - - - - - - 488,382
- - - - 262,181 1,610,265 - - - 224,719 4,030,532
- - - - - - - - - - 1,027,238
- - 491,624 90,555 - - 428,311 - 8,426 2,020,837 8,277,011
- 178,089 - - - - - 525,667 2,200 - 2,366,965
- - - - - - - - - - 65,000
- - - - - - - - - - 4,462
45,507 - - - - - 304,224 - - - 380,975
224,319 178,089 491,624 90,555 262,181 1,610,265 732,535 525,667 10,626 2,245,556 16,640,565
(43,772) (57,336) (29,205) (10,800) 65,825 (85,412) 98,846 (437,464) 6,204 94,322 (127,095)
- - - - - - - - - - -
- - - - - - - - - - -
143,552 - 350,000 20,000 - - - - - - 661,052
- - - - - - - - - - -
143,552 - 350,000 20,000 - - - - - - 661,052
99,780 (57,336) 320,795 9,200 65,825 (85,412) 98,846 (437,464) 6,204 94,322 533,957
237,878 148,377 281,801 62,701 (142,242) 165,188 123,090 3,773,948 31,778 127 15,918,162
$ 337,658 $ 91,041 $ 602,596 $ 71,901 $ (76,417) $ 79,776 $ 221,936 $ 3,336,484 $ 37,982 $ 94,449 $ 16,452,119
Park Revenue
Facilities
Leach
Amphitheater
Community
Development
Special
Total Nonmajor
Special
Revenue Funds Fire Special
Public Works
Special
Garbage
Collection and
Disposal
Pollock Water
Park
Healthy
Neighborhood
Initiatives
Rental
Inspections Special Events
Special Revenue Funds
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
77
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Income
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Sale of Capital Assets
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES (DEFICITS)
FUND BALANCES (DEFICITS) - BEGINNING
FUND BALANCES (DEFICITS) - ENDING
$ - $ - $ - $ - $ - $ 1,100,000 $ - $ - $ - $ - $ -
- - - - - - - - - - -
- - - - - 226,518 - - - - -
- - - - - - - - - - -
- - - - - - 9,105 - - - -
- - - - - - - - - - -
- - 51,999 - - - 7,675 - - - -
- - - - - - 73,159 6,200 - - -
- - 51,999 - - 1,326,518 89,939 6,200 - - -
- - - - - 46,849 - - - - -
- - - - - 106,342 - - - - -
- - - - - 359,710 - - - - -
- - - - - - - - - - -
- - - - - - 8,471 - - - 89,139
- - 378,144 - - 1,140,938 - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
1,689,289 7,598,868 - - - 4,816,022 2,298,300 - - 6,750 -
1,689,289 7,598,868 378,144 - - 6,469,861 2,306,771 - - 6,750 89,139
(1,689,289) (7,598,868) (326,145) - - (5,143,343) (2,216,832) 6,200 - (6,750) (89,139)
300,000 7,788,800 - - - 4,707,100 1,155,000 - - - -
- - - - - - - - - - -
- - 325,000 - - - - - - - -
- - - - - - - - - - -
300,000 7,788,800 325,000 - - 4,707,100 1,155,000 - - - -
(1,389,289) 189,932 (1,145) - - (436,243) (1,061,832) 6,200 - (6,750) (89,139)
(657,961) 10,536,464 16,839 - 3,861,808 11,178,015 3,056,402 406,439 2,000 127,776 (2,492)
$ (2,047,250) $ 10,726,396 $ 15,694 $ - $ 3,861,808 $ 10,741,772 $ 1,994,570 $ 412,639 $ 2,000 $ 121,026 $ (91,631)
Advance
Payments
Special
Assessment
Contract
Control Equipment Senior Center
Grand Opera
House
Mct Rochlin
Park
Smokestack
Park
Subdivision
Improvement
Park
Improvement
and Acquisition
Sidewalk
Construction
Street
Improvement
Street Tree
Memorial
Capital Project Funds
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
78
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Income
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Sale of Capital Assets
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES (DEFICITS)
FUND BALANCES (DEFICITS) - BEGINNING
FUND BALANCES (DEFICITS) - ENDING
$ - $ - $ - $ - $ 134,080 $ 290,113 $ 547,179 $ 209,797 $ 138,937 $ 291,915 $ 523,585
- - - - - - - - - - -
- - - - 2,438 10,112 112 47,574 564 52,522 54,240
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
107,992 - - - - - - - - - -
107,992 - - - 136,518 300,225 547,291 257,371 139,501 344,437 577,825
- - - - - - - - - - -
- - - - - - - - - - -
19,107 - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - 113,691 3,928 308,934 113,691 150 150 150
- 5,000 - - - 355,000 65,000 - 35,000 295,000 115,000
- 683 - - - 23,345 4,315 - 840 69,268 6,225
6,000 - - - - - 1,376 - - - -
25,107 5,683 - - 113,691 382,273 379,625 113,691 35,990 364,418 121,375
82,885 (5,683) - - 22,827 (82,048) 167,666 143,680 103,511 (19,981) 456,450
- - - - - - - - - - -
- - - - - - 44,405 - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - 44,405 - - - -
82,885 (5,683) - - 22,827 (82,048) 212,071 143,680 103,511 (19,981) 456,450
398,981 40,209 53,496 62,915 773,298 (582,395) 962,480 2,815,072 388,719 572,317 (1,115,240)
$ 481,866 $ 34,526 $ 53,496 $ 62,915 $ 796,125 $ (664,443) $ 1,174,551 $ 2,958,752 $ 492,230 $ 552,336 $ (658,790)
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
TIF No. 15 Park
Plaza/
Commerce
Street
TIF No. 16 100
Block
Redevelopment
TIF No. 12
Division Street
TIF No. 13
Marion
Road/Pearl
Avenue
TIF No. 11
Oshkosh Office
Center
Parking Ramp
Improvements
TIF No. 8 S
Aviation
Industrial
TIF No. 10 Main
and Washington
TIF No. 14
Mercy Medical
Center
TIF No. 17 City
Centre
Redevelopment
TIF No. 18 SW
Industrial Park
Expansion
Capital Project Funds
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
79
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Income
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Sale of Capital Assets
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES (DEFICITS)
FUND BALANCES (DEFICITS) - BEGINNING
FUND BALANCES (DEFICITS) - ENDING
$ 256,858 $ - $ 472,923 $ 20,455 $ 241,995 $ 263,829 $ - $ 220,252 $ 51,096 $ 9,510 $ 50,603
- - - - - - - - - - -
25,259 1,049 - - 8,693 7,675 - 55,744 - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- 137,063 239,899 - - - - - - - -
282,117 138,112 712,822 20,455 250,688 271,504 - 275,996 51,096 9,510 50,603
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
52,843 3,831 130,817 150 236,428 13,412 150 150 40,685 150 33,138
70,000 235,000 100,000 491,764 - 247,806 390,722 - - - -
3,200 65,888 24,950 76,088 - 6,815 21,786 - - - -
- 33,318 - - - - - - - - -
126,043 338,037 255,767 568,002 236,428 268,033 412,658 150 40,685 150 33,138
156,074 (199,925) 457,055 (547,547) 14,260 3,471 (412,658) 275,846 10,411 9,360 17,465
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
156,074 (199,925) 457,055 (547,547) 14,260 3,471 (412,658) 275,846 10,411 9,360 17,465
554,807 3,284,330 (150,942) (1,611,233) 57,809 (1,751,619) (2,777,587) (1,542,441) 11,807 6,623 21,294
$ 710,881 $ 3,084,405 $ 306,113 $ (2,158,780) $ 72,069 $ (1,748,148) $ (3,190,245) $ (1,266,595) $ 22,218 $ 15,983 $ 38,759
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
TIF No. 24
Oshkosh Corp E-
Coat
TIF No. 25 City
Center Hotel
TIF No. 26
Aviation
Business Park
TIF No. 27
North Main
Street Industrial
Park
TIF No. 28
Beach Building
Redevelopment
TIF No. 29
Morgan District
TIF No. 30
Washington
Building
TIF No. 19 NW
Industrial
Expansion
TIF No. 20
South Shore
Redevelopment
TIF No. 21 Fox
River Corridor
TIF No. 23 SW
Industrial Park
Expansion
Capital Projects Funds
80
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Income
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Sale of Capital Assets
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES (DEFICITS)
FUND BALANCES (DEFICITS) - BEGINNING
FUND BALANCES (DEFICITS) - ENDING
$ 523,189 $ 14,238 $ 292,437 $ 1,097,389 $ 307,351 $ 122,234 $ 211,852 $ 4,118 $ 11,629 $ -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
70,198 - - - - - - - - -
593,387 14,238 292,437 1,097,389 307,351 122,234 211,852 4,118 11,629 -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
541,981 12,964 219,478 1,097,539 150 110,161 190,817 150 367 427
- - - - - - - - - -
- - - - - - - - - -
- - - - 6,980 - - - - -
541,981 12,964 219,478 1,097,539 7,130 110,161 190,817 150 367 427
51,406 1,274 72,959 (150) 300,221 12,073 21,035 3,968 11,262 (427)
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
51,406 1,274 72,959 (150) 300,221 12,073 21,035 3,968 11,262 (427)
(29,841) 2,637 131,406 (52,691) 620,548 (16,417) (15,463) (13,214) 4,086 (8,824)
$ 21,565 $ 3,911 $ 204,365 $ (52,841) $ 920,769 $ (4,344) $ 5,572 $ (9,246) $ 15,348 $ (9,251)
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
TIF No. 32
Granary
Redevelopment
TIF No. 39
Cabrini School
Redevelopment
TIF No. 33
Lamico
Redevelopment
TIF No. 34
Oshkosh Corp
Headquarters
TIF No. 35
Oshkosh Ave
Corridor
TIF No. 40 Miles
Kimball
Redevelopment
TIF No. 36
Merge
Redevelopment
TIF No. 37
Aviation Plaza
TIF No. 38
Pioneer
Redevelopment
TIF No. 31
Buckstaff
Redevelopment
Capital Projects Funds
81
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Income
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Sale of Capital Assets
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES (DEFICITS)
FUND BALANCES (DEFICITS) - ENDING
$- $- $- $ 7,407,564 $ 14,433,664 $ 13,677,378
- - - - 140,610 171,347
- - - 492,500 5,139,118 5,789,117
- - - - 131,622 -
- 18,500 - 27,605 1,851,913 2,037,151
- - - -169,116 104,535
- - - 59,674 1,398,553 569,819
- - - 634,511 1,870,728 1,173,631
- 18,500 - 8,621,854 25,135,324 23,522,978
- - - 46,849 46,849 59,961
- - - 106,342 594,724 597,967
- - - 378,817 4,409,349 4,851,166
- - - - 1,027,238 975,653
- - - 97,610 8,374,621 6,737,553
2,197 21,325 22,665 4,791,751 7,158,716 6,241,954
- - - 2,405,292 2,470,292 6,379,842
- - - 303,403 307,865 423,134
- - - 16,456,903 16,837,878 10,668,614
2,197 21,325 22,665 24,586,967 41,227,532 36,935,844
(2,197) (2,825) (22,665) (15,965,113) (16,092,208) (13,412,866)
- - - 13,950,900 13,950,900 16,966,844
- - - 44,405 44,405 30,729
- - - 325,000 986,052 2,242,118
- - - - - (1,717,450)
- - - 14,320,305 14,981,357 17,522,241
(2,197) (2,825) (22,665) (1,644,808) (1,110,851) 4,109,375
(8,582) - - 29,611,635 45,529,797 41,420,422
$ (10,779) $ (2,825) $ (22,665) $ 27,966,827 $ 44,418,946 $ 45,529,797
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2022
With Summarized Information From December 31, 2021
Total Nonmajor Special Revenue
and Capital Projects Funds
2022
Total Nomajor
Capital Projects
TIF No. 41 Smith
School TIF No. 43 Mill
TIF No. 42
Morgan
82
ASSETS
Current Assets:
Cash and Investments $ 90,190 $ 1,489,316 $ -
Accounts Receivable - 245,946 -
Due from Other Funds - - -
Prepaid Items 16,716 - -
Total Current Assets 106,906 1,735,262 -
Noncurrent Assets:
Assets Held for Resale - - 4,447,936
Net Pension Asset 48,322 - -
Land 1,817,234 3,217,183 -
Buildings and Improvements - 8,396,796 -
Infrastructure 3,447,323 - -
Machinery and Equipment 10,291 1,578,202 -
Accumulated Depreciation (2,159,420) (3,706,369) -
Total Noncurrent Assets 3,163,750 9,485,812 4,447,936
TOTAL ASSETS 3,270,656 11,221,074 4,447,936
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension 94,505 - -
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 8,246 14,830 -
Total Deferred Outflows of Resources 102,751 14,830 -
CURRENT LIABILITIES
Accounts Payable 446 535,631 21,999
Accrued Interest 158 28,242 436
Due to Other Funds - - 1,240,829
Deposits from Others - 5,000 -
Unearned Revenue - - -
Compensated Absences 437 - -
Current Portion of Long-Term Obligations - 194,069 35,000
Total Current Liabilities 1,041 762,942 1,298,264
NONCURRENT LIABILITIES
Net Other Post-Employment Benefits Liability 11,666 20,983 -
Compensated Absences 1,021 - -
Noncurrent Portion of Long-Term Obligations 25,000 867,504 150,000
Total Noncurrent Liabilities 37,687 888,487 150,000
TOTAL LIABILITIES 38,728 1,651,429 1,448,264
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows of Resources Related to Pension 113,762 - -
Deferred Inflows of Resources Related to
Other Post-Employment Benefits 6,105 10,981 -
Total Deferred Inflows of Resources 119,867 10,981 -
NET POSITION
Net Investment in Capital Assets 3,090,428 8,424,239 -
Restricted 29,065 - -
Unrestricted 95,319 1,149,255 2,999,672
TOTAL NET POSITION $3,214,812 $9,573,494 $2,999,672
Parking Utility
Oshkosh
Redevelopment
Project
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Net Position
Nonmajor Enterprise Funds
As of December 31, 2022
With Summarized Information from December 31, 2021
Industrial Park
Land
83
$ 1,037,290 $ 2,616,796 $ 1,927,532
13,617 259,563 226,247
1,240,829 1,240,829 1,145,768
- 16,716 18,148
2,291,736 4,133,904 3,317,695
- 4,447,936 4,447,936
263,185 311,507 250,376
- 5,034,417 5,034,417
- 8,396,796 7,955,203
- 3,447,323 3,447,323
- 1,588,493 1,559,741
- (5,865,789) (5,558,530)
263,185 17,360,683 17,136,466
2,554,921 21,494,587 20,454,161
514,714 609,219 416,349
126,594 149,670 54,493
641,308 758,889 470,842
4,102 562,178 161,365
- 28,836 46,389
- 1,240,829 1,145,768
- 5,000 5,000
318 318 483
13,912 14,349 15,264
- 229,069 295,712
18,332 2,080,579 1,669,981
215,627 248,276 179,860
32,462 33,483 30,990
- 1,042,504 1,271,573
248,089 1,324,263 1,482,423
266,421 3,404,842 3,152,404
619,597 733,359 548,537
82,689 99,775 34,911
702,286 833,134 583,448
- 11,514,667 11,165,869
158,302 187,367 118,188
2,069,220 6,313,466 5,905,094
$2,227,522 $18,015,500 $17,189,151
Inspection
Services 2022 2021
Totals
84
OPERATING REVENUES
Charges for Services $ 95,736 $ - $ -
Taxes - 2,337,753 -
Fines, Forfeitures and Penalties 12,905 - -
Other Operating Revenues - 78,438 26,919
Total Operating Revenues 108,641 2,416,191 26,919
OPERATING EXPENSES
Operation and Maintenance 108,678 1,772,637 24,202
Depreciation 125,792 181,467 -
Total Operating Expenses 234,470 1,954,104 24,202
OPERATING INCOME (LOSS)(125,829) 462,087 2,717
NONOPERATING EXPENSES
Interest Expense (2,064) (39,619) (6,733)
INCOME (LOSS) BEFORE TRANFERS (127,893) 422,468 (4,016)
TRANSFERS OUT - - -
CHANGE IN NET POSITION (127,893) 422,468 (4,016)
NET POSITION - BEGINNING 3,342,705 9,151,026 3,003,688
NET POSITION - ENDING $3,214,812 $9,573,494 $2,999,672
Parking Utility
Oshkosh
Redevelopment
Project
Industrial Park
Land
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenses and Changes in Net Position
Nonmajor Enterprise Funds
For the Year Ended December 31, 2022
With Summarized Information from December 31, 2021
85
$ 1,518,138 $ 1,613,874 $ 1,500,069
- 2,337,753 1,800,580
- 12,905 13,803
- 105,357 106,078
1,518,138 4,069,889 3,420,530
982,348 2,887,865 2,275,604
- 307,259 302,065
982,348 3,195,124 2,577,669
535,790 874,765 842,861
- (48,416) (83,778)
535,790 826,349 759,083
- - (1,900)
535,790 826,349 757,183
1,691,732 17,189,151 16,431,968
$2,227,522 $18,015,500 $17,189,151
Inspection
Services 2022 2021
Totals
86
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers $ 108,641 $ 2,342,005 $ 26,919
Cash Paid To Suppliers (55,048) (1,292,900) (4,203)
Cash Paid to Employees For Wages and Benefits (54,378) (97,271) -
Net Cash Flows From Operating Activities (785) 951,834 22,716
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Due to/from Other Funds - - 95,061
Transfer from (to) Other Funds - - -
Net Cash Flows From Noncapital Financing Activities - - 95,061
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of Capital Assets - (470,345) -
Principal Payments on Long-Term Debt - (185,712) (110,000)
Interest and Fiscal Charges (2,064) (56,128) (7,777)
Net Cash Flows From Capital and
Related Financing Activities (2,064) (712,185) (117,777)
(2,849) 239,649 -
93,039 1,249,667 -
$ 90,190 $ 1,489,316 $ -
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 90,190 $ 1,489,316 $ -
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss) $ (125,829) $ 462,087 $ 2,717
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Depreciation 125,792 181,467 -
Changes in Assets and Liabilities:
Accounts Receivable - (74,186) -
Prepaid Items 1,432 - -
Accounts Payable 276 381,076 19,999
Unearned Revenue - - -
Compensated Absences 379 - -
Net Pension Asset 1,526 - -
Deferred Outflows Related to Pension (11,613) - -
Deferred Inflows Related to Pension 4,553 - -
Net OPEB Liability 4,818 5,189 -
Deferred Outflows Related to OPEB (6,648) (11,146) -
Deferred Inflows Related to OPEB 4,529 7,347 -
Net Cash Flows From
Operating Activities $(785) $951,834 $22,716
CASH AND INVESTMENTS - ENDING
CHANGE IN CASH AND INVESTMENTS
CASH AND INVESTMENTS - BEGINNING
Industrial Park
LandParking Utility
Oshkosh
Redevelopment
Project
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended December 31, 2022
With Summarized Information from December 31, 2021
87
$ 1,559,008 $ 4,036,573 $ 3,282,828
(145,531) (1,497,682) (1,294,081)
(865,952) (1,017,601) (902,052)
547,525 1,521,290 1,086,695
(95,061) - (1,028,307)
- - (1,900)
(95,061) - (1,030,207)
- (470,345) (69,224)
- (295,712) (282,715)
- (65,969) (77,892)
- (832,026) (429,831)
452,464 689,264 (373,343)
584,826 1,927,532 2,300,875
$ 1,037,290 $ 2,616,796 $ 1,927,532
$ 1,037,290 $ 2,616,796 $ 1,927,532
$ 535,790 $ 874,765 $ 842,861
- 307,259 302,065
40,870 (33,316) (137,702)
- 1,432 1,433
(538) 400,813 151,465
(165) (165) (40)
1,199 1,578 (37,174)
(62,657) (61,131) (137,304)
(181,257) (192,870) (151,639)
180,269 184,822 120,498
58,409 68,416 60,449
(77,383) (95,177) 68,030
52,988 64,864 3,753
$547,525 $1,521,290 $1,086,695
2021
Totals
Inspection
Services 2022
88
ASSETS
Current Assets:
Cash and Investments $ 3,153,024 $ - $ - $ 510,648 $ 646,951 $ 4,310,623 $ 2,255,477
Accouns Receivable 24,761 - - - - 24,761 -
Due from Other Funds 1,719,923 - - - - 1,719,923 474,431
Prepaid Items - - - 75,000 - 75,000 75,000
Inventories - - - - 625,295 625,295 -
Total Current Assets 4,897,708 - - 585,648 1,272,246 6,755,602 2,804,908
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related
to Other Post-Employment Benefits - - - 5,042 - 5,042 1,253
CURRENT LIABILITIES
Accounts and Claims Payable 2,534,299 - - 23,543 38,017 2,595,859 23,104
Due to Other Funds - - - - 1,719,923 1,719,923 474,431
Total Current Liabilities 2,534,299 - - 23,543 1,757,940 4,315,782 497,535
NONCURRENT LIABILITIES
Net Other Post-Employment Benefits Liability - - - 7,134 - 7,134 5,370
TOTAL LIABILITIES 2,534,299 - - 30,677 1,757,940 4,322,916 502,905
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows of Resources Related
to Other Post-Employment Benefits - - - 3,733 - 3,733 1,236
NET POSITION
Unrestricted (Deficit)$2,363,409 $- $- $556,280 $(485,694) $2,433,995 $2,302,020
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2021
As of December 31, 2022
Internal Service Funds
Combining Statement of Net Position (Deficit)
2021
Total
Health Insurance
Worker's
CompensationFire PensionPolice Pension 2022
Field
Operations
89
OPERATING REVENUES
Charges for Services $ 12,082,161 $ - $ - $ 945,201 $ 1,247,165 $ 14,274,527 $ 977,999
Other Operating Revenues 457,416 - - - - 457,416 -
Total Operating Revenues 12,539,577 - - 945,201 1,247,165 14,731,943 977,999
OPERATING EXPENSES
Claims and Administration 12,190,887 1,279 - 700,796 1,732,859 14,625,821 1,228,506
OPERATING INCOME (LOSS)348,690 (1,279) - 244,405 (485,694) 106,122 (250,507)
NONOPERATING REVENUES
Investment Income - 853 - - - 853 4,418
INCOME (LOSS) BEFORE TRANSFERS 348,690 (426) - 244,405 (485,694) 106,975 (246,089)
TRANSFERS IN 25,000 - - 730,299 - 755,299 388,000
TRANSFERS OUT - (582,507) (147,792) - - (730,299) -
CHANGE IN NET POSITION 373,690 (582,933) (147,792) 974,704 (485,694) 131,975 141,911
NET POSITION (DEFICIT) - BEGINNING 1,989,719 582,933 147,792 (418,424) - 2,302,020 2,160,109
NET POSITION (DEFICIT) - ENDING $2,363,409 $- $- $556,280 $(485,694) $2,433,995 $2,302,020
With Summarized Information from December 31, 2021
For the Year Ended December 31, 2022
Internal Service Funds
Statement of Revenues, Expenses and Changes in Net Position (Deficit)
CITY OF OSHKOSH, WISCONSIN
2022
Field
Operations 2021
Worker's
Compensation
Health
Insurance Police Pension Fire Pension
Total
90
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from City $ 12,514,816 $ - $ - $ 945,201 $ 1,247,165 $ 14,707,182 $ 977,999
Paid to Suppliers for Goods and Services (9,666,052) (1,279) - (642,678) (2,320,137) (12,630,146) (1,265,132)
Received From (Paid) to Employees for Operating Payroll Benefits - - - (47,743) - (47,743) (50,542)
Net Cash Flows From Operating Activities 2,848,764 (1,279) - 254,780 (1,072,972) 2,029,293 (337,675)
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Due to/from Other Fund (1,245,492) - - (474,431) 1,719,923 - -
Transfer from (to) Other Funds 25,000 (582,507) (147,792) 730,299 - 25,000 388,000
Net Cash Flows From Noncapital Financing Activities (1,220,492) (582,507) (147,792) 255,868 1,719,923 25,000 388,000
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Income - 853 - - - 853 4,418
1,628,272 (582,933) (147,792) 510,648 646,951 2,055,146 54,743
1,524,752 582,933 147,792 - - 2,255,477 2,200,734
$ 3,153,024 $ - $ - $ 510,648 $ 646,951 $ 4,310,623 $ 2,255,477
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 3,153,024 $ - $ - $ 510,648 $ 646,951 $ 4,310,623 $ 2,255,477
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss) $ 348,690 $ (1,279) $ - $ 244,405 $ (485,694) $ 106,122 $ (250,507)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Changes in Assets and Liabilities:
Accounts Receivable (24,761) - - - - (24,761) -
Inventories - - - - (625,295) (625,295) -
Prepaid Items - - - - - - (75,000)
Deferred Outflows Related to OPEB - - - (3,789) - (3,789) 692
Accounts and Claims Payable 2,524,835 - - 9,903 38,017 2,572,755 (9,054)
Net OPEB Liability - - - 1,764 - 1,764 (2,605)
Deferred Inflows Related to OPEB - - - 2,497 - 2,497 (1,201)
Net Cash Flows From
Operating Activities $2,848,764 $(1,279) $- $254,780 $(1,072,972) $2,029,293 $(337,675)
With Summarized Information from December 31, 2021
For the Year Ended December 31, 2022
Internal Service Funds
Combining Statement of Cash Flows
CITY OF OSHKOSH, WISCONSIN
Health Insurance Police Pension Fire Pension
Worker's
Compensation
Totals
2022
Field
Operations 2021
CHANGE IN CASH AND INVESTMENTS
CASH AND INVESTMENTS - BEGINNING
CASH AND INVESTMENTS - ENDING
91
OTHER INFORMATION
REVENUES
Taxes $12,733,500 $12,733,500 $12,733,500 $-
Interest Income 110,000 110,000 202,470 92,470
Total Revenues 12,843,500 12,843,500 12,935,970 92,470
EXPENDITURES
Debt Service:
Principal 10,076,100 10,076,100 9,881,098 195,002
Interest and Fiscal Charges 2,665,600 2,665,600 3,376,575 (710,975)
Total Expenditures 12,741,700 12,741,700 13,257,673 (515,973)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 101,800 101,800 (321,703) (423,503)
OTHER FINANCING SOURCES
Proceeds from Long-term Debt - - 16,459,100 16,459,100
Debt Premium - - 1,735,824 1,735,824
Total Other Financing Sources - - 18,194,924 18,194,924
NET CHANGE IN FUND BALANCE 101,800 101,800 17,873,221 17,771,421
FUND BALANCE (DEFICIT) - BEGINNING (877,277) (877,277) (877,277) -
FUND BALANCE (DEFICIT) - ENDING $(775,477) $(775,477) $16,995,944 $17,771,421
Favorable
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Debt Service
For the Year Ended December 31, 2022
Variance
Original Actual
Final Budget
92
Final Budget
REVENUES
Special Assessments $1,640,000 $1,640,000 $5,918,879 $4,278,879
EXPENDITURES
Public Works - - 35,638 (35,638)
Debt Service:
Principal 1,120,000 1,120,000 1,120,000 -
Interest and Fiscal Charges 313,500 313,500 313,504 (4)
Total Expenditures 1,433,500 1,433,500 1,469,142 (35,642)
NET CHANGE IN FUND BALANCE 206,500 206,500 4,449,737 4,243,237
FUND BALANCE - BEGINNING 8,951,074 8,951,074 8,951,074 -
FUND BALANCE - ENDING $9,157,574 $9,157,574 $13,400,811 $4,243,237
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Special Assessment Improvement
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
93
REVENUES
Taxes $353,500 $353,500 $353,500 $-
Intergovernmental 91,100 91,100 90,612 (488)
Charges for Services 100 100 58 (42)
Miscellaneous 153,600 153,600 140,951 (12,649)
Total Revenues 598,300 598,300 585,121 (13,179)
EXPENDITURES
Health and Human Services 627,200 603,000 616,597 (13,597)
NET CHANGE IN FUND BALANCE (28,900) (4,700) (31,476) (26,776)
FUND BALANCE - BEGINNING 99,450 99,450 99,450 -
FUND BALANCE - ENDING $70,550 $94,750 $67,974 $(26,776)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Senior Services
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
94
REVENUES
Special Assessments 140,600 140,600 140,610 10
Total Revenues
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Business Improvement District
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
95
REVENUES
Intergovernmental 237,000 237,000 236,961 (39)
Total Revenues
EXPENDITURES
Capital Outlay 210,000 210,000 - 210,000
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Recycling
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
96
REVENUES
Taxes 1,025,000 1,025,000 1,025,000 -
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Street Lighting
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
97
REVENUES
Taxes 2,792,700 2,792,700 2,792,700 -
Intergovernmental 804,800 804,800 804,837 37
Total Revenues
EXPENDITURES
Principal - - 65,000 (65,000)
Interest and Fiscal Charges 8,500 8,500 4,462 4,038
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Library
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
98
REVENUES
Taxes $970,000 $970,000 $970,000 $-
Intergovernmental - - 4,000 4,000
Charges for Services 41,000 41,000 55,078 14,078
Investment Income 10,300 10,300 7,840 (2,460)
Miscellaneous 74,300 74,300 271,064 196,764
Total Revenues 1,095,600 1,095,600 1,307,982 212,382
EXPENDITURES
Culture and Recreation 1,375,400 1,375,400 1,246,416 128,984
Capital Outlay 8,500 8,500 - 8,500
Total Expenditures 1,383,900 1,383,900 1,246,416 137,484
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (288,300) (288,300) 61,566 349,866
OTHER FINANCING SOURCE (USE)
Transfers In 180,200 180,200 98,200 (82,000)
Transfers Out (82,000) (82,000) - 82,000
Total Other Financing Source (Use)98,200 98,200 98,200 -
NET CHANGE IN FUND BALANCE (190,100) (190,100) 159,766 349,866
FUND BALANCE - BEGINNING 1,172,909 1,172,909 1,172,909 -
FUND BALANCE - ENDING $982,809 $982,809 $1,332,675 $349,866
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Museum
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
99
REVENUES
Taxes 321,000 321,000 321,000 -
Total Revenues
EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCE
Transfers In 49,300 49,300 49,300 -
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Cemetery
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
100
Final Budget
REVENUES
Intergovernmental $1,349,000 $1,349,000 $747,736 $(601,264)
Miscellaneous 300,000 300,000 368,219 68,219
Total Revenues 1,649,000 1,649,000 1,115,955 (533,045)
EXPENDITURES
Conservation and Development 1,248,000 1,817,036 1,195,204 621,832
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 401,000 (168,036) (79,249) 88,787
OTHER FINANCING USE
Transfers Out (1,500,000) (1,500,000) - 1,500,000
NET CHANGE IN FUND BALANCE (1,099,000) (1,668,036) (79,249) 1,588,787
FUND BALANCE - BEGINNING 4,410,706 4,410,706 4,410,706 -
FUND BALANCE - ENDING $3,311,706 $2,742,670 $4,331,457 $1,588,787
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Community Development Block Grant
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
101
EXPENDITURES
Conservation and Development $218,100 $218,100 $- $ 218,100
NET CHANGE IN FUND BALANCE (218,100) (218,100) - 218,100
FUND BALANCE - BEGINNING 271,280 271,280 271,280 -
FUND BALANCE - ENDING $ 53,180 $ 53,180 $ 271,280 $ 218,100
Budget Final Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Neighborhood Improvement Loan Program
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
102
REVENUES
Investment Income $- $- $66,119 $66,119
Miscellaneous - - 266,190 266,190
Total Revenues - - 332,309 332,309
EXPENDITURES
Conservation and Development 450,000 450,000 250,000 200,000
NET CHANGE IN FUND BALANCE (450,000) (450,000) 82,309 532,309
FUND BALANCE - BEGINNING 1,968,334 1,968,334 1,968,334 -
FUND BALANCE - ENDING $1,518,334 $1,518,334 $2,050,643 $532,309
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Local Revolving Loan Program
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
103
REVENUES
Intergovernmental $5,500 $5,500 $- $(5,500)
Miscellaneous 38,000 38,000 55,327 17,327
Total Revenues 43,500 43,500 55,327 11,827
EXPENDITURES
Health and Human Services 37,500 37,500 28,067 9,433
Capital Outlay 6,000 6,000 4,095 1,905
Total Expenditures 43,500 43,500 32,162 11,338
NET CHANGE IN FUND BALANCE - - 23,165 23,165
FUND BALANCE - BEGINNING 133,301 133,301 133,301 -
FUND BALANCE - ENDING $133,301 $133,301 $156,466 $23,165
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Senior Services Revolving Loans
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
104
REVENUES
Intergovernmental 35,353 35,322 22,270 (13,052)
Total Revenues
EXPENDITURES
Capital Outlay - - 27,149 (27,149)
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Police Special
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
105
REVENUES
Intergovernmental $213,769 $213,769 $177,509 $(36,260)
Miscellaneous - - 3,038 3,038
Total Revenues 213,769 213,769 180,547 (33,222)
EXPENDITURES
Public Safety 254,577 254,577 178,812 75,765
Capital Outlay 60,100 60,100 45,507 14,593
Total Expenditures 314,677 314,677 224,319 90,358
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (100,908) (100,908) (43,772) 57,136
OTHER FINANCING SOURCE
Transfers In 42,500 42,500 143,552 101,052
NET CHANGE IN FUND BALANCE (58,408) (58,408) 99,780 158,188
FUND BALANCE - BEGINNING 237,878 237,878 237,878 -
FUND BALANCE - ENDING $179,470 $179,470 $337,658 $158,188
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Fire Special
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
106
REVENUES
Intergovernmental 1,525,000 1,525,000 120,753 (1,404,247)
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Community Development Special
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
107
REVENUES
Intergovernmental $17,400 $17,400 $- $(17,400)
Charges for Services 258,900 258,900 238,422 (20,478)
Miscellaneous 187,000 187,000 223,997 36,997
Total Revenues 463,300 463,300 462,419 (881)
EXPENDITURES
Culture and Recreation 607,400 602,375 491,624 110,751
DEFICIENCY OF REVENUES
UNDER EXPENDITURES (144,100) (139,075) (29,205) 109,870
OTHER FINANCING SOURCE
Transfers In 200,000 200,000 350,000 150,000
NET CHANGE IN FUND BALANCE 55,900 60,925 320,795 259,870
FUND BALANCE - BEGINNING 281,801 281,801 281,801 -
FUND BALANCE - ENDING $337,701 $342,726 $602,596 $259,870
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Park Revenue Facilities
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
109
Original and
Final Budget
REVENUES
Taxes 23,000 23,000 23,000 -
Total Revenues
EXPENDITURES
DEFICIENCY OF REVENUES
UNDER EXPENDITURES
OTHER FINANCING SOURCE
Transfers In - - 20,000 20,000
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Leach Amphitheater
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
109
REVENUES
Intergovernmental 210,000 210,000 196,384 (13,616)
Licenses and Permits - - 131,622 131,622
Total Revenues
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE (DEFICIT) - BEGINNING
FUND BALANCE (DEFICIT) - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Public Works Special
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
110
REVENUES
Taxes $1,460,400 $1,460,400 $1,460,400 $-
Charges for Services 50,200 50,200 64,453 14,253
Total Revenues 1,510,600 1,510,600 1,524,853 14,253
EXPENDITURES
Public Works 1,579,600 1,599,034 1,610,265 (11,231)
NET CHANGE IN FUND BALANCE (69,000) (88,434) (85,412) 3,022
FUND BALANCE - BEGINNING 165,188 165,188 165,188 -
FUND BALANCE - ENDING $96,188 $76,754 $79,776 $3,022
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Garbage Collection and Disposal
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
111
REVENUES
Taxes 64,000 64,000 64,000 -
Total Revenues
EXPENDITURES
Capital Outlay 452,500 452,500 304,224 148,276
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Pollock Water Park
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
112
REVENUES
Investment Income $- $- $835 $835
Miscellaneous 60,000 60,000 87,368 27,368
Total Revenues 60,000 60,000 88,203 28,203
EXPENDITURES
Conservation and Development 889,000 891,475 525,667 365,808
NET CHANGE IN FUND BALANCE (829,000) (831,475) (437,464) 394,011
FUND BALANCE - BEGINNING 3,773,948 3,773,948 3,773,948 -
FUND BALANCE - ENDING $2,944,948 $2,942,473 $3,336,484 $394,011
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Healthy Neighborhood Initiative
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
113
REVENUES
Taxes $16,500 $16,500 $16,500 $-
Charges for Services - - 330 330
Total Revenues 16,500 16,500 16,830 330
EXPENDITURES
Culture and Recreation 16,400 16,400 8,426 7,974
Conservation and Development 2,200 2,200 2,200 -
Total Expenditures 18,600 18,600 10,626 7,974
NET CHANGE IN FUND BALANCE (2,100) (2,100) 6,204 8,304
FUND BALANCE - BEGINNING 31,778 31,778 31,778 -
FUND BALANCE - ENDING $29,678 $29,678 $37,982 $8,304
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Rental Inspections
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
114
REVENUES
Intergovernmental 20,514,484 10,257,242 2,245,556 (8,011,686)
Total Revenues
EXPENDITURES
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Special Events
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
115
REVENUES
Intergovernmental $50,000 $50,000 $- $(50,000)
Miscellaneous 9,000 9,000 51,999 42,999
Total Revenues 59,000 59,000 51,999 (7,001)
EXPENDITURES
Conservation and Development 59,000 61,860 378,144 (316,284)
DEFICIENCY OF REVENUES
UNDER EXPENDITURES - (2,860) (326,145) (323,285)
OTHER FINANCING SOURCE
Transfers In 325,000 325,000 325,000 -
NET CHANGE IN FUND BALANCE 325,000 322,140 (1,145) (323,285)
FUND BALANCE - BEGINNING 16,839 16,839 16,839 -
FUND BALANCE - ENDING $341,839 $338,979 $15,694 $(323,285)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Street Tree Memorial
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
116
REVENUES
Taxes 2,579,550 2,579,550 1,100,000 (1,479,550)
Intergovernmental 1,889,400 1,889,400 226,518 (1,662,882)
Total Revenues
EXPENDITURES
Capital Outlay 16,732,134 20,269,042 4,816,022 15,453,020
Total Expenditures
DEFICIENCY OF REVENUES
UNDER EXPENDITURES
OTHER FINANCING SOURCES
Proceeds from Long-term Debt 14,106,200 14,106,200 4,707,100 (9,399,100)
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Equipment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
117
REVENUES
Intergovernmental $150,000 $150,000 $- $(150,000)
Charges for Services - - 9,105 9,105
Miscellaneous - - 80,834 80,834
Total Revenues 150,000 150,000 89,939 (60,061)
EXPENDITURES
Current:
Culture and Recreation - - 8,471 (8,471)
Capital Outlay 1,555,000 6,051,799 2,298,300 3,753,499
Total Expenditures 1,555,000 6,051,799 2,306,771 3,745,028
DEFICIENCY OF REVENUES
UNDER EXPENDITURES (1,405,000) (5,901,799) (2,216,832) 3,684,967
OTHER FINANCING SOURCES
Proceeds from Long-term Debt 1,405,000 1,405,000 1,155,000 (250,000)
NET CHANGE IN FUND BALANCE - (4,496,799) (1,061,832) 3,434,967
FUND BALANCE - BEGINNING 3,056,402 3,056,402 3,056,402 -
FUND BALANCE - ENDING $3,056,402 $(1,440,397) $1,994,570 $3,434,967
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Park Improvement and Acquisition
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
118
EXPENDITURES
Capital Outlay 7,000 7,000 6,750 (250)
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Final Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Senior Center
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
119
EXPENDITURES
Current:
Culture and Recreation $37,100 $38,864 $89,139 $(50,275)
NET CHANGE IN FUND BALANCE (37,100) (38,864) (89,139) (50,275)
FUND BALANCE (DEFICIT) - BEGINNING (2,492) (2,492) (2,492) -
FUND BALANCE (DEFICIT) - ENDING $(39,592) $(41,356) $(91,631) $(50,275)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Grand Opera House
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
120
REVENUES
Miscellaneous $65,000 $65,000 $107,992 $42,992
EXPENDITURES
Public Works 19,400 19,400 19,107 293
Capital Outlay 50,000 50,000 6,000 44,000
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Parking Ramp Improvements
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
121
EXPENDITURES
Debt Service:
Principal 5,000 5,000 5,000 -
Interest and Fiscal Charges 700 700 683 17
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 8 S Aviation Industrial
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
122
REVENUES
Taxes 123,900 123,900 134,080 10,180
Intergovernmental 2,900 2,900 2,438 (462)
Total Revenues
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 12 Division Street
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
123
REVENUES
Taxes $276,000 $276,000 $290,113 $14,113
Intergovernmental - - 10,112 10,112
Total Revenues 276,000 276,000 300,225 24,225
EXPENDITURES
Conservation and Development 200 200 3,928 (3,728)
Debt Service:
Principal 355,000 355,000 355,000 -
Interest and Fiscal Charges 23,300 23,300 23,345 (45)
Total Expenditures 378,500 378,500 382,273 (3,773)
NET CHANGE IN FUND BALANCE (102,500) (102,500) (82,048) 20,452
FUND BALANCE (DEFICIT) - BEGINNING (582,395) (582,395) (582,395) -
FUND BALANCE (DEFICIT) - ENDING $(684,895) $(684,895) $(664,443) $20,452
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 13 Marion Road/ Pearl Avenue
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
124
REVENUES
Taxes $514,000 $514,000 $547,179 $33,179
Intergovernmental - - 112 112
Total Revenues 514,000 514,000 547,291 33,291
EXPENDITURES
Current:
Conservation and Development 300,200 303,373 308,934 (5,561)
Debt Service:
Principal 65,000 65,000 65,000 -
Interest and Fiscal Charges 4,300 4,300 4,315 (15)
Capital Outlay - - 1,376 (1,376)
Total Expenditures 369,500 372,673 379,625 (6,952)
DEFICIENCY OF REVENUES
UNDER EXPENDITURES 144,500 141,327 167,666 26,339
OTHER FINANCING SOURCE
Sale of Capital Assets - - 44,405 44,405
NET CHANGE IN FUND BALANCE 144,500 141,327 212,071 70,744
FUND BALANCE - BEGINNING 962,480 962,480 962,480 -
FUND BALANCE - ENDING $1,106,980 $1,103,807 $1,174,551 $70,744
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 14 Mercy Medical Center
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
125
REVENUES
Taxes $203,400 $203,400 $209,797 $6,397
Intergovernmental - - 47,574 47,574
Total Revenues 203,400 203,400 257,371 53,971
EXPENDITURES
Conservation and Development 130,200 130,200 113,691 16,509
NET CHANGE IN FUND BALANCE 73,200 73,200 143,680 70,480
FUND BALANCE - BEGINNING 2,815,072 2,815,072 2,815,072 -
FUND BALANCE - ENDING $2,888,272 $2,888,272 $2,958,752 $70,480
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 15 Park Plaza/Commerce Street
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
126
REVENUES
Taxes 131,500 131,500 138,937 7,437
Intergovernmental - - 564 564
Total Revenues
EXPENDITURES
Principal 35,000 35,000 35,000 -
Interest and Fiscal Charges 900 900 840 60
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 16 100 Block Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
127
REVENUES
Taxes $274,300 $274,300 $291,915 $17,615
Intergovernmental - - 52,522 52,522
Total Revenues 274,300 274,300 344,437 70,137
EXPENDITURES
Conservation and Development 200 200 150 50
Debt Service:
Principal 320,000 320,000 295,000 25,000
Interest and Fiscal Charges 54,300 54,300 69,268 (14,968)
Total Expenditures 374,500 374,500 364,418 10,082
NET CHANGE IN FUND BALANCE (100,200) (100,200) (19,981) 80,219
FUND BALANCE - BEGINNING 572,317 572,317 572,317 -
FUND BALANCE - ENDING $472,117 $472,117 $552,336 $80,219
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 17 City Center Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
128
REVENUES
Taxes $518,700 $518,700 $523,585 $4,885
Intergovernmental 103,000 103,000 54,240 (48,760)
Total Revenues 621,700 621,700 577,825 (43,875)
EXPENDITURES
Conservation and Development 200 200 150 50
Debt Service:
Principal 115,000 115,000 115,000 -
Interest and Fiscal Charges 6,200 6,200 6,225 (25)
Total Expenditures 121,400 121,400 121,375 25
NET CHANGE IN FUND BALANCE 500,300 500,300 456,450 (43,850)
FUND BALANCE (DEFICIT) - BEGINNING (1,115,240) (1,115,240) (1,115,240) -
FUND BALANCE (DEFICIT) - ENDING $(614,940) $(614,940) $(658,790) $(43,850)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 18 SW Industrial Park Expansion
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
129
REVENUES
Taxes $251,400 $251,400 $256,858 $5,458
Intergovernmental - - 25,259 25,259
Total Revenues 251,400 251,400 282,117 30,717
EXPENDITURES
Current:
Conservation and Development 66,200 66,200 52,843 13,357
Debt Service:
Principal 70,000 70,000 70,000 -
Interest and Fiscal Charges 3,200 3,200 3,200 -
Total Expenditures 139,400 139,400 126,043 13,357
NET CHANGE IN FUND BALANCE 112,000 112,000 156,074 44,074
FUND BALANCE - BEGINNING 554,807 554,807 554,807 -
FUND BALANCE - ENDING $666,807 $666,807 $710,881 $44,074
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 19 NW Industrial Expansion
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
130
REVENUES
Intergovernmental $- $- $1,049 $1,049
Miscellaneous - - 137,063 137,063
Total Revenues - - 138,112 138,112
EXPENDITURES
Current:
Conservation and Development 200 200 3,831 (3,631)
Debt Service:
Principal 255,000 255,000 235,000 20,000
Interest and Fiscal Charges 57,600 57,600 65,888 (8,288)
Capital Outlay 10,000 10,000 33,318 (23,318)
Total Expenditures 322,800 322,800 338,037 (15,237)
NET CHANGE IN FUND BALANCE (322,800) (322,800) (199,925) 122,875
FUND BALANCE - BEGINNING 3,284,330 3,284,330 3,284,330 -
FUND BALANCE - ENDING $2,961,530 $2,961,530 $3,084,405 $122,875
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 20 South Shore Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
131
REVENUES
Taxes $443,000 $443,000 $472,923 $29,923
Miscellaneous - - 239,899 239,899
Total Revenues 443,000 443,000 712,822 269,822
EXPENDITURES
Current:
Conservation and Development 141,700 141,700 130,817 10,883
Debt Service:
Principal 100,000 100,000 100,000 -
Interest and Fiscal Charges 25,000 25,000 24,950 50
Total Expenditures 266,700 266,700 255,767 10,933
NET CHANGE IN FUND BALANCE 176,300 176,300 457,055 280,755
FUND BALANCE (DEFICIT) - BEGINNING (150,942) (150,942) (150,942) -
FUND BALANCE - ENDING $25,358 $25,358 $306,113 $280,755
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 21 Fox River Corridor
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
132
REVENUES
Taxes $- $- $20,455 $20,455
EXPENDITURES
Current:
Conservation and Development 200 200 150 50
Debt Service:
Principal 491,800 491,800 491,764 36
Interest and Fiscal Charges 76,100 76,100 76,088 12
Capital Outlay 5,000 5,000 - 5,000
Total Expenditures 573,100 573,100 568,002 5,098
NET CHANGE IN FUND BALANCE (573,100) (573,100) (547,547) 25,553
FUND BALANCE (DEFICIT) - BEGINNING (1,611,233) (1,611,233) (1,611,233) -
FUND BALANCE (DEFICIT) - ENDING $(2,184,333) $(2,184,333) $(2,158,780) $25,553
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 23 SW Industrial Park Expansion
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
133
REVENUES
Taxes $289,300 $289,300 $241,995 $(47,305)
Intergovernmental - - 8,693 8,693
Total Revenues 289,300 289,300 250,688 (38,612)
EXPENDITURES
Conservation and Development 284,200 284,200 236,428 47,772
NET CHANGE IN FUND BALANCE 5,100 5,100 14,260 9,160
FUND BALANCE - BEGINNING 57,809 57,809 57,809 -
FUND BALANCE - ENDING $62,909 $62,909 $72,069 $9,160
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 24 Oshkosh Corp E-COAT
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
134
REVENUES
Taxes $251,200 $251,200 $263,829 $12,629
Intergovernmental - - 7,675 7,675
Total Revenues 251,200 251,200 271,504 20,304
EXPENDITURES
Current:
Conservation and Development 250,200 250,200 13,412 236,788
Debt Service:
Principal 247,800 247,800 247,806 (6)
Interest and Fiscal Charges 6,800 6,800 6,815 (15)
Total Expenditures 504,800 504,800 268,033 236,767
NET CHANGE IN FUND BALANCE (253,600) (253,600) 3,471 257,071
FUND BALANCE (DEFICIT) - BEGINNING (1,751,619) (1,751,619) (1,751,619) -
FUND BALANCE (DEFICIT) - ENDING $(2,005,219) $(2,005,219) $(1,748,148) $257,071
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 25 City Center Hotel
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
135
EXPENDITURES
Current:
Conservation and Development $200 $200 $150 $50
Debt Service:
Principal 390,700 390,700 390,722 (22)
Interest and Fiscal Charges 21,800 21,800 21,786 14
Total Expenditures 412,700 412,700 412,658 42
NET CHANGE IN FUND BALANCE (412,700) (412,700) (412,658) 42
FUND BALANCE (DEFICIT) - BEGINNING (2,777,587) (2,777,587) (2,777,587) -
FUND BALANCE (DEFICIT) - ENDING $(3,190,287) $(3,190,287) $(3,190,245) $42
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 26 Aviation Business Park
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
136
REVENUES
Taxes $191,700 $191,700 $220,252 $28,552
Intergovernmental - - 55,744 55,744
Total Revenues 191,700 191,700 275,996 84,296
EXPENDITURES
Conservation and Development 23,800 23,800 150 23,650
NET CHANGE IN FUND BALANCE 167,900 167,900 275,846 107,946
FUND BALANCE (DEFICIT) - BEGINNING (1,542,441) (1,542,441) (1,542,441) -
FUND BALANCE (DEFICIT) - ENDING $(1,374,541) $(1,374,541) $(1,266,595) $107,946
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 27 North Main Street Industrial Park
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
137
REVENUES
Taxes $47,100 47,100 51,096 3,996
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 28 Beach Building Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
138
REVENUES
Taxes 6,900 6,900 9,510 2,610
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 29 Morgan District
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
139
REVENUES
Taxes $46,600 46,600 50,603 4,003
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 30 Washington Building
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
140
Original and
Final Budget
REVENUES
Taxes $492,600 $492,600 $523,189 $30,589
EXPENDITURES
Current:
Conservation and Development 475,200 475,200 541,981 (66,781)
Debt Service:
Principal 8,600 8,600 - 8,600
Interest and Fiscal Charges 4,600 4,600 - 4,600
Total Expenditures 488,400 488,400 541,981 (53,581)
NET CHANGE IN FUND BALANCE 4,200 4,200 51,406 47,206
FUND BALANCE (DEFICIT) - BEGINNING (29,841) (29,841) (29,841) -
FUND BALANCE (DEFICIT) - ENDING $(25,641) $(25,641) $21,565 $47,206
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 31 Buckstaff Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
141
REVENUES
Taxes 13,600 13,600 14,238 638
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 32 Granary Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
142
REVENUES
Taxes 274,000 274,000 292,437 18,437
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 33 Lamico Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
143
REVENUES
Taxes $1,055,900 1,055,900 1,097,389 41,489
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE (DEFICIT) - BEGINNING
FUND BALANCE (DEFICIT) - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 34 Oshkosh Corp Headquarters
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
144
REVENUES
Taxes $113,800 $113,800 $307,351 $193,551
EXPENDITURES
Current:
Conservation and Development 200 200 150 50
Debt Service:
Principal 35,000 35,000 - 35,000
Interest and Fiscal Charges 21,600 21,600 - 21,600
Capital Outlay - - 6,980 (6,980)
Total Expenditures 56,800 56,800 7,130 49,670
NET CHANGE IN FUND BALANCE 57,000 57,000 300,221 243,221
FUND BALANCE - BEGINNING 620,548 620,548 620,548 -
FUND BALANCE - ENDING $677,548 $677,548 $920,769 $243,221
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 35 Oshkosh Avenue Corridor
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
145
Final Budget
Taxes - - 122,234 122,234
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE (DEFICIT) - BEGINNING
FUND BALANCE (DEFICIT) - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 36 Merge Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
146
REVENUES
Taxes $25,300 25,300 211,852 186,552
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE (DEFICIT) - BEGINNING
FUND BALANCE (DEFICIT) - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 37 Aviation Plaza
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
147
REVENUES
Taxes $- - 4,118 4,118
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE (DEFICIT) - BEGINNING
FUND BALANCE (DEFICIT) - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 38 Pioneer Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
148
REVENUES
Taxes $- - 11,629 11,629
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 39 Cabrini School Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
149
EXPENDITURES
Conservation and Development 200 $200 $427 $(227)
NET CHANGE IN FUND BALANCE (200) (200) (427) (227)
FUND BALANCE (DEFICIT) - BEGINNING (8,824) (8,824) (8,824) -
FUND BALANCE (DEFICIT) - ENDING $(9,024) $(9,024) $(9,251) $(227)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 40 Miles Kimball Redevelopment
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
150
OPERATING REVENUES
Charges for Services 739,500 739,500 1,045,415 305,915
Other Operating Revenues 43,500 43,500 55,624 12,124
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING LOSS
NONOPERATING REVENUES (EXPENSES)
General Property Taxes 809,500 809,500 809,500 -
Gain on Disposal of Capital Assets 700 700 10,400 9,700
Nonoperating grants 3,469,900 3,469,900 5,718,652 2,248,752
Interest Expense (48,600) (48,600) (48,068) 532
Total Nonoperating Revenues (Expenses)
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Transit Utility
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
151
OPERATING REVENUES
Charges for Services $16,322,800 $16,322,800 $15,424,468 $(898,332)
Other Operating Revenues 122,500 122,500 223,426 100,926
Total Operating Revenues 16,445,300 16,445,300 15,647,894 (797,406)
OPERATING EXPENSES
Operation and Maintenance 9,826,900 10,612,708 6,474,513 4,138,195
Depreciation 3,726,500 3,726,500 3,718,527 7,973
Taxes 205,100 205,100 148,385 56,715
Total Operating Expenses 13,758,500 14,544,308 10,341,425 4,202,883
OPERATING INCOME 2,686,800 1,900,992 5,306,469 3,405,477
NONOPERATING REVENUES (EXPENSES)
Gain on Disposal of Capital Assets 1,900 1,900 5,744 3,844
Investment Income 185,600 185,600 (125,983) (311,583)
Interest Expense (1,624,900) (1,624,900) (1,725,857) (100,957)
Total Nonoperating Revenues (Expenses)(1,437,400) (1,437,400) (1,846,096) (408,696)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 1,249,400 463,592 3,460,373 2,996,781
TRANSFERS OUT (1,542,600) (1,542,600) (1,542,600) -
CAPITAL CONTRIBUTIONS 57,900 57,900 155,072 97,172
NET CHANGE IN NET POSITION (235,300) (1,021,108) 2,072,845 3,093,953
NET POSITION - BEGINNING 78,933,969 78,933,969 78,933,969 -
NET POSITION - ENDING $78,698,669 $77,912,861 $81,006,814 $3,093,953
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Water Utility
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
152
OPERATING REVENUES
Charges for Services $16,622,700 $16,622,700 $16,447,544 $(175,156)
Other Operating Revenues 25,000 25,000 7,189 (17,811)
Total Operating Revenues 16,647,700 16,647,700 16,454,733 (192,967)
OPERATING EXPENSES
Operation and Maintenance 7,542,100 7,774,866 6,542,630 1,232,236
Depreciation 3,983,500 3,983,500 4,084,676 (101,176)
Taxes 190,700 190,700 184,285 6,415
Total Operating Expenses 11,716,300 11,949,066 10,811,591 1,137,475
OPERATING INCOME 4,931,400 4,698,634 5,643,142 944,508
NONOPERATING REVENUES (EXPENSES)
Gain on Disposal of Capital Assets 2,300 2,300 1,299 (1,001)
Investment Income 245,100 245,100 (31,418) (276,518)
Interest Expense (2,278,500) (2,278,500) (2,742,228) (463,728)
Total Nonoperating Revenues (Expenses)(2,031,100) (2,031,100) (2,772,347) (741,247)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 2,900,300 2,667,534 2,870,795 203,261
CAPITAL CONTRIBUTIONS 378,500 378,500 202,900 (175,600)
NET CHANGE IN NET POSITION 3,278,800 3,046,034 3,073,695 27,661
NET POSITION - BEGINNING 75,955,828 75,955,828 75,955,828 -
NET POSITION - ENDING $79,234,628 $79,001,862 $79,029,523 $27,661
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Sewer Utility
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
153
OPERATING REVENUES
Charges for Services $13,307,000 $13,307,000 $13,113,817 $(193,183)
Other Operating Revenues 21,500 21,500 2,435 (19,065)
Total Operating Revenues 13,328,500 13,328,500 13,116,252 (212,248)
OPERATING EXPENSES
Operation and Maintenance 2,680,000 2,762,006 2,162,248 599,758
Depreciation 2,512,300 2,512,300 2,528,613 (16,313)
Taxes 75,200 75,200 71,497 3,703
Total Operating Expenses 5,267,500 5,349,506 4,762,358 587,148
OPERATING INCOME 8,061,000 7,978,994 8,353,894 374,900
NONOPERATING REVENUES (EXPENSES)
Gain on Disposal of Capital Assets 2,100 2,100 1,080 (1,020)
Nonoperating Grants 4,000 4,000 - (4,000)
Investment Income 349,000 349,000 (222,722) (571,722)
Interest Expense (3,061,700) (3,061,700) (2,936,655) 125,045
Total Nonoperating Revenues (Expenses)(2,706,600) (2,706,600) (3,158,297) (451,697)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 5,354,400 5,272,394 5,195,597 (76,797)
CAPITAL CONTRIBUTIONS 127,300 127,300 136,970 9,670
NET CHANGE IN NET POSITION 5,481,700 5,399,694 5,332,567 (67,127)
NET POSITION - BEGINNING 65,758,422 65,758,422 65,758,422 -
NET POSITION - ENDING $71,240,122 $71,158,116 $71,090,989 $(67,127)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Stormwater Utility
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
154
Final Budget
Charges for Services 108,600 108,600 95,736 (12,864)
Fines, Forfeitures and Penalties 20,000 20,000 12,905 (7,095)
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING LOSS
NONOPERATING EXPENSES
Interest Expense (2,000) (2,000) (2,064) (64)
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Parking Utility
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
155
OPERATING REVENUES
Taxes $1,428,600 $1,428,600 $2,337,753 $909,153
Other Operating Revenues 40,400 40,400 78,438 38,038
Total Operating Revenues 1,469,000 1,469,000 2,416,191 947,191
OPERATING EXPENSES
Operation and Maintenance 1,443,300 1,443,300 1,772,637 (329,337)
Depreciation 165,000 165,000 181,467 (16,467)
Total Operating Expenses 1,608,300 1,608,300 1,954,104 (345,804)
OPERATING INCOME (LOSS)(139,300) (139,300) 462,087 601,387
NONOPERATING EXPENSES
Interest Expense (56,100) (56,100) (39,619) 16,481
NET CHANGE IN NET POSITION (195,400) (195,400) 422,468 617,868
NET POSITION - BEGINNING 9,151,026 9,151,026 9,151,026 -
NET POSITION - ENDING $8,955,626 $8,955,626 $9,573,494 $617,868
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Oshkosh Redevelopment Authority
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
156
OPERATING REVENUES
Other Operating Revenues $- $- $26,919 $26,919
OPERATING EXPENSES
Operation and Maintenance 27,300 27,300 24,202 3,098
OPERATING INCOME (LOSS)(27,300) (27,300) 2,717 30,017
NONOPERATING REVENUE (EXPENSE)
Gain on Disposal of Capital Assets 100,000 100,000 - (100,000)
Interest Expense (7,800) (7,800) (6,733) 1,067
Total Nonoperating Revenue (Expense)92,200 92,200 (6,733) (98,933)
NET CHANGE IN NET POSITION 64,900 64,900 (4,016) (68,916)
NET POSITION - BEGINNING 3,003,688 3,003,688 3,003,688 -
NET POSITION - ENDING $3,068,588 $3,068,588 $2,999,672 $(68,916)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Industrial Park Land
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
157
OPERATING REVENUES
Charges for Services $967,400 $967,400 $1,518,138 $ 550,738
OPERATING EXPENSES
Operation and Maintenance (15,048)
OPERATING INCOME 100 100 535,790 535,690
NET CHANGE IN NET POSITION 100 100 535,790 535,690
NET POSITION - BEGINNING 1,691,732 1,691,732 1,691,732 -
NET POSITION - ENDING $ 1,691,832 $ 1,691,832 $ 2,227,522 $ 535,690
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Inspection Services
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
158
OPERATING REVENUES
Charges for Services $- $- $12,082,161 $12,082,161
Other Operating Revenues - - 457,416 457,416
Total Operating Revenues - - 12,539,577 12,539,577
OPERATING EXPENSES
Claims and Administration 385,700 385,700 12,190,887 (11,805,187)
INCOME (LOSS) BEFORE
TRANSFERS (385,700) (385,700) 348,690 734,390
TRANSFERS IN 25,000 25,000 25,000 -
NET CHANGE IN NET POSITION (360,700) (360,700) 373,690 734,390
NET POSITION - BEGINNING 1,989,719 1,989,719 1,989,719 -
NET POSITION - ENDING $1,629,019 $1,629,019 $2,363,409 $734,390
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Health Insurance
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
159
Final Budget
OPERATING EXPENSES
Claims and Administration $5,200 $5,200 $1,279 $3,921
OPERATING LOSS (5,200) (5,200) (1,279) 3,921
NONOPERATING REVENUES
Investment Income 1,500 1,500 853 (647)
LOSS BEFORE
TRANSFERS (3,700) (3,700) (426) 3,274
TRANSFERS OUT - - (582,507) (582,507)
NET CHANGE IN NET POSITION (3,700) (3,700) (582,933) (579,233)
NET POSITION - BEGINNING 582,933 582,933 582,933 -
NET POSITION - ENDING $579,233 $579,233 $- $(579,233)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Police Pension
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
160
NONOPERATING REVENUES
Investment Income $1,300 $1,300 $- $(1,300)
INCOME (LOSS) BEFORE
CONTRIBUTIONS AND TRANSFERS 1,300 1,300 - (1,300)
TRANSFERS OUT - - (147,792) (147,792)
NET CHANGE IN NET POSITION 1,300 1,300 (147,792) (149,092)
NET POSITION - BEGINNING 147,792 147,792 147,792 -
NET POSITION - ENDING $149,092 $149,092 $- $(149,092)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Fire Pension
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
161
OPERATING REVENUES
Charges for Services $943,000 $943,000 $945,201 $2,201
OPERATING EXPENSES
Claims and Administration 1,223,300 943,300 700,796 242,504
OPERATING INCOME (LOSS)(280,300) (300) 244,405 244,705
TRANSFERS IN - - 730,299 730,299
NET CHANGE IN NET POSITION (DEFICIT)(280,300) (300) 974,704 975,004
NET POSITION (DEFICIT) - BEGINNING (418,424) (418,424) (418,424) -
NET POSITION - ENDING $(698,724) $(418,724) $556,280 $975,004
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Worker's Compensation
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
Final Budget
162
OPERATING REVENUES
Taxes $604,800 $604,800 $1,247,165 $642,365
OPERATING EXPENSES
Operations and Maintenance 1,463,000 1,463,000 1,732,859 (269,859)
NET CHANGE IN NET POSITION (858,200) (858,200) (485,694) 372,506
NET POSITION - BEGINNING - - - -
NET POSITION - ENDING $(858,200) $(858,200) $(485,694) $372,506
Budget Final Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Field Operations
For the Year Ended December 31, 2022
Variance
Original Actual Favorable
163
STATISTICAL SECTION
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Governmental Activities
Net Investment in Capital Assets 53,195,094$ 57,867,428$ 53,733,398$ 47,319,281$ 43,812,963$ 37,227,904$ 39,752,753$ 36,184,133$ 28,014,455$ 19,329,489$
Restricted 51,320,016 39,045,714 38,831,796 28,695,910 27,951,509 28,379,167 22,305,281 38,369,139 45,613,499 37,140,497
Unrestricted 67,586,870 52,633,003 37,888,515 48,436,055 47,114,137 33,786,672 26,329,710 18,792,902 4,617,998 10,845,337
Total Governmental Activities Net Position 172,101,980$ 149,546,145$ 130,453,709$ 124,451,246$ 118,878,609$ 99,393,743$ 88,387,744$ 93,346,174$ 78,245,952$ 67,315,323$
Business-Type Activities
Net Investment in Capital Assets 137,581,623$ 141,692,794$ 162,667,610$ 145,221,685$ 140,276,752$ 113,691,844$ 120,012,568$ 123,851,149$ 125,163,119$ 123,557,519$
Restricted 23,162,743 23,124,605 1,555,705 16,792,800 16,279,781 12,250,194 31,949,679 14,773,848 11,074,504 9,929,194
Unrestricted 98,551,150 81,677,837 71,541,182 65,833,816 58,666,104 73,264,160 33,991,810 35,395,885 27,688,003 21,406,542
Total Business-Type Activities Net Position 259,295,516$ 246,495,236$ 235,764,497$ 227,848,301$ 215,222,637$ 199,206,198$ 185,954,057$ 174,020,882$ 163,925,626$ 154,893,255$
Primary government
Net Investment in Capital Assets 190,776,717$ 199,560,222$ 216,401,008$ 192,540,966$ 184,089,715$ 150,919,748$ 159,765,321$ 160,035,282$ 153,177,574$ 142,887,008$
Restricted 74,482,759 62,170,319 40,387,501 45,488,710 44,231,290 40,629,361 54,254,960 53,142,987 56,688,003 47,069,691
Unrestricted 166,138,020 134,310,840 109,429,697 114,269,871 105,780,241 107,050,832 60,321,520 54,188,787 32,306,001 32,251,879
Total Primary Government Net Position 431,397,496$ 396,041,381$ 366,218,206$ 352,299,547$ 334,101,246$ 298,599,941$ 274,341,801$ 267,367,056$ 242,171,578$ 222,208,578$
CITY OF OSHKOSH, WISCONSIN
Net Position
(accrual basis of accounting)
Last Ten Years
164
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Program Revenues
Governmental Activities:
Charges for Services:
Expenses
(accrual basis of accounting)
Last Ten Years
Changes in Net Position
CITY OF OSHKOSH, WISCONSIN
165
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Net (Expense)/Revenue
Governmental Activities (50,617,285)$ (50,407,001)$ (58,437,438)$ (56,833,280)$ (41,714,526)$ (49,556,732)$ (60,908,473)$ (52,702,207)$ (48,686,425)$ (45,644,786)$
Business-Type Activities 13,894,980 10,864,726 10,949,893 13,363,249 14,496,531 12,835,531 11,753,347 8,131,222 7,718,513 7,208,969
Total Primary Government Net Expense (36,722,305) (39,542,275) (47,487,545) (43,470,031) (27,217,995) (36,721,201) (49,155,126) (44,570,985) (40,967,912) (38,435,817)
General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property and Other Local Taxes Levied For:
General Purposes 30,349,500 29,982,343 28,259,622 27,149,155 26,088,061 25,568,490 16,540,825 7,674,823 7,601,256 7,437,835
Other Purposes 6,654,317 5,839,480 3,048,593 4,111,868 7,053,820 6,652,124 13,439,350 14,856,920 14,629,667 13,887,960
Debt Service 12,733,500 11,160,200 12,070,600 11,451,100 10,985,500 10,323,676 9,851,809 18,037,275 17,637,047 17,015,651
18,667,511 18,015,015 13,718,267 13,092,274 14,004,464 13,868,473 13,286,136 12,165,208 12,239,874 12,646,485
Change in Net Position
State and Federal Aids Not Restricted to Specific Functions
(accrual basis of accounting)
Last Ten Years
Changes in Net Position (continued)
CITY OF OSHKOSH, WISCONSIN
166
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
FUND BALANCES
NONSPENDABLE
Inventories and prepaid items 322,998$ 235,147$ 220,529$ 150,934$ 83,851$ 59,300$ 46,778$ 17,259$ 33,723$ 13,477$
Receivables from other funds - - 113,993 703,921 - 1,704,665 8,022,157 13,302,738 480,191 6,082,872
Permanent Funds 3,646,101 3,646,101
RESTRICTED
Construction of assets 11,546,889 10,363,853 10,222,843 12,774,151 14,305,655 15,448,351 4,891,747 7,255,154 28,384,271 19,114,218
Debt service 16,995,944 - 124,348 2,189,515 1,092,465 923,371 2,251,808 2,361,472 3,437,177 6,628,347
Special purposes 7,782,987 7,742,864 7,550,920 2,982,819 5,915,198 4,873,307 6,169,377 5,676,076 3,763,430 3,121,059
Trust agreements 8,336,606 8,553,994 11,636,360 11,272,813 10,355,777 10,622,852 9,717,845 9,437,194 10,028,621 8,276,873
COMMITTED
Special purposes 8,651,100 8,317,413 8,068,583 4,541,964 5,000,463 1,171,091 1,786,878 1,948,928 870,296 327,044
ASSIGNED
Subsequent years 80,018 712,583 9,035,291 49,180 161,205 - 1,835 - 44,977 91,977
Special purposes 13,864,016 8,951,201 - 5,508,363 - - - - - -
Construction of assets 27,989,015 29,584,724 21,941,110 24,477,440 22,279,952 20,927,327 15,083,683 13,759,242 8,436,116 10,610,710
UNASSIGNED
General fund 19,684,630 18,281,841 16,478,392 14,256,427 11,817,119 10,230,445 8,427,707 8,540,127 8,718,502 8,262,154
Debt Service - (877,277) - - - - - - - -
Special revenue funds (76,417) (142,242) (84,713) (294,067) 1,181,668 (3,636,920)(74,716) (4,637,412) (3,986,743) (2,058,210)
Capital project funds (11,937,833) (10,336,942) (10,140,129) (9,812,845) (10,224,467) (10,060,081)(12,319,773) (4,706,405) (4,331,169) (5,018,748)
Total Fund Balances 106,886,054$ 85,033,260$ 75,167,527$ 68,800,615$ 61,968,886$ 52,263,708$ 44,005,326$ 52,954,373$ 55,879,392$ 55,451,773$
CITY OF OSHKOSH, WISCONSIN
Fund Balances, Governmental Funds
Last Ten Years
December 31, 2022
167
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Revenues
Taxes 49,737,317$ 47,092,045$ 43,238,205$ 42,525,650$ 43,928,857$ 42,339,970$ 39,678,624$ 40,394,058$ 39,703,948$ 38,186,988$
Special assessments 6,059,489 5,146,172 2,397,687 3,790,351 3,408,853 2,819,275 1,745,129 4,090,632 3,278,508 3,957,420
Intergovernmental 21,928,873 22,689,628 21,214,095 19,564,647 22,494,060 19,375,160 19,018,924 18,478,299 16,856,805 18,179,507
Licenses and permits 940,170 846,865 813,981 1,020,303 1,010,623 974,230 854,691 1,817,320 1,630,361 1,690,229
Fines and forfeits 573,152 604,003 555,420 904,250 763,489 799,480 697,837 732,845 718,839 814,534
Public charges for services 6,201,970 5,940,274 4,044,615 5,709,092 4,526,077 3,809,875 4,194,606 4,879,735 5,072,026 5,723,603
Intergovernmental charges for services 3,125,718 3,535,484 3,253,866 4,592,204 3,883,174 4,463,334 4,432,013 3,427,847 3,371,926 3,313,954
Miscellaneous 5,613,890 4,106,248 3,475,786 5,038,886 5,052,408 8,555,585 3,895,923 2,449,829 8,776,973 3,297,214
Total Revenues 94,180,579 89,960,719 78,993,655 83,145,383 85,067,541 83,136,909 74,517,747 76,270,565 79,409,386 75,163,449
Expenditures
Current
General government 8,014,303 6,582,541 6,247,669 6,258,147 6,653,597 6,384,666 6,360,784 6,104,307 6,004,044 5,718,541
Public safety 31,800,470 29,833,547 27,893,056 27,093,658 26,608,996 26,171,424 25,930,335 25,556,548 24,604,669 24,180,522
Public works 9,532,540 10,605,143 9,291,262 9,653,026 10,331,819 9,186,637 8,893,465 9,068,401 9,653,984 9,249,548
Transportation 717,540 691,401 753,027 749,739 719,561 5,385,542 897,614 462,691 502,391 423,057
Health and Human Services 1,027,238 975,653 979,569 948,483 938,160 5,212,069 7,287,928 7,937,333 7,943,881 7,634,760
Culture and recreation 10,972,175 9,106,795 7,685,510 8,066,415 7,670,084 1,631,738 677,920 692,914 678,097 677,682
Conservation and development 9,167,921 8,199,702 4,468,846 6,407,743 5,525,721 1,317,316 7,187,823 8,011,745 6,316,899 6,305,710
Unclassified 487,363 819,412 1,105,967 871,824 1,079,471 1,251,952 636,998 836,971 613,892 773,537
Debt service
Principal 13,471,390 21,193,791 19,665,095 14,994,182 12,017,594 11,497,406 33,126,100 10,952,762 17,867,974 9,048,197
Interest and fiscal charges 3,997,944 3,698,380 3,845,929 3,650,687 3,724,439 3,675,373 4,236,487 3,739,870 3,601,824 3,322,065
Capital outlay 16,846,730 10,779,050 15,790,346 17,580,820 13,239,606 15,898,274 19,953,642 19,360,391 19,245,514 19,428,396
Total Expenditures 106,035,614 102,485,415 97,726,276 96,274,724 88,509,048 87,612,397 115,189,096 92,723,933 97,033,169 86,762,015
Excess of Revenues Over (Under)
Expenditures (11,855,035) (12,524,696) (18,732,621) (13,129,341) (3,441,507) (4,475,488) (40,671,349) (16,453,368) (17,623,783) (11,598,566)
Other Financing Sources (Uses)
Long-term debt issued 30,410,000 20,330,000 17,715,000 16,000,000 11,440,000 10,965,000 29,715,239 19,390,000 25,208,622 16,054,100
Premium on debt issued 1,735,824 1,359,700 953,237 931,315 328,285 680,834 1,021,808 483,527 733,994 -
Proceeds from sale of capital assets 44,405 30,729 22,750 27,573 7,000 123,527 - (7,333,351) (8,878,405) -
Transfers in 2,528,652 3,249,418 4,223,485 3,465,539 6,974,789 12,527,625 12,858,979 16,994,014 17,915,661 11,658,764
Transfers out (1,011,052) (2,579,418) (2,390,867) (463,357) (5,603,389) (11,563,116) (11,873,724) (16,005,841) (16,928,470) (10,671,298)
Total Other Financing Sources (Uses)33,707,829 22,390,429 20,523,605 19,961,070 13,146,685 12,733,870 31,722,302 13,528,349 18,051,402 17,041,566
Net Change in Fund Balance 21,852,794 9,865,733 1,790,984 6,831,729 9,705,178 8,258,382 (8,949,047) (2,925,019) 427,619 5,443,000
Fund Balances - January 1,85,033,260 75,167,527 73,376,543 61,968,886 52,263,708 44,005,326 52,954,373 55,879,392 55,451,773 50,008,773
Fund Balances - December 31 106,886,054$ 85,033,260$ 75,167,527$ 68,800,615$ 61,968,886$ 52,263,708$ 44,005,326$ 52,954,373$ 55,879,392$ 55,451,773$
Last Ten Fiscal Years
Changes in Fund Balances, Governmental Funds
CITY OF OSHKOSH, WISCONSIN
168
Fiscal Assessed Estimated Actual
Assessed
Estimated Actual Total Assessed Total Direct Estimated Actual
Ratio of Total
Assessed to
2022 3,917,468,500$ 4,897,318,492 84,066,600$ 105,093,612 4,001,535,100$ 12.1180 5,002,412,104 74.99
2021 3,903,326,700 4,571,938,460 91,964,200 107,717,005 3,995,290,900 11.6083 4,679,655,465 82.87
2020 3,867,063,100 4,294,808,493 99,822,900 110,864,557 3,966,886,000 11.1413 4,405,673,051 88.94
2019 3,806,380,700 4,087,892,193 93,736,900 100,669,474 3,900,117,600 10.9027 4,188,561,667 92.60
2018 3,758,059,400 3,949,636,890 105,526,300 110,905,796 3,863,585,700 10.5820 4,060,542,686 94.90
2017 3,723,271,100 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
CITY OF OSHKOSH, WISCONSIN
Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
December 31, 2022
Real Property Personal Property
169
Fiscal
Year Operations Debt Total Total
Operations Debt Total Total
47,298,940$ 4,046,395$ 20,501,010$ -$
31,595,334 6,808,053 19,215,346 637,971
30,451,103 6,786,290 20,169,459 638,536
33,555,438 3,910,234 19,019,113 635,319
33,943,225 3,890,900 19,340,255 636,199
35,051,183 3,962,683 19,253,275 -
35,551,348 3,915,834 19,002,146 640,848
37,213,146 4,128,654 19,744,572 -
35,089,846 4,146,909 19,925,941 -
42,916,637 4,119,695 20,443,171 -
37,784,007 4,207,547 20,192,201 -
Schools College County of Winnebago State of Wisconsin
City of Oshkosh
CITY OF OSHKOSH, WISCONSIN
Property Tax Rates - Direct and Overlapping Governments
Last Ten Fiscal Years
December 31, 2022
City of Oshkosh
Schools College County of Winnebago State of Wisconsin
Tax Levies
170
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Taxpayer Assessed Valuation (1)Assessed Valuation
City of Oshkosh, Wisconsin
Principal Taxpayers
12/31/2022 and 12/31/2012
December 31, 2022
December 31, 2012
171
County Percent of Total
Year Year (1)
City of Oshkosh, Wisconsin
Property Tax Levies And Collections
Last Ten Fiscal Years
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 the delinquent taxes to the County by August 15 and the County in turn makes the City whole with
a settlement on August 20. The City retains the responsibility of collecting delinquent personal property taxes.
172
Fiscal Year
General Compensated
Pension
Liability General Compensate Total Primary
Percentage
of Personal
(1)
(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 $10,233,802 which was split between governmental and business-type activities.
CITY OF OSHKOSH, WISCONSIN
Outstanding Debt by Type
Last Ten Fiscal Years
December 31, 2022
Governmental Activities Business-Type Activities
173
Fiscal Year Population Equalized Value Debt Total Value Per Capita
Long-Term Debt
CITY OF OSHKOSH, WISCONSIN
Ratios of Net General Bonded Debt Outstanding
Last Ten Fiscal Years
December 31, 2022
Net General
174
Percent Amount
Direct Debt:
City purpose 136,467,213$
Less Sanitary Sewer purpose (2,855,000)
Less Storm Water purpose (2,435,000)
Less Water Utility purpose (1,805,000)
Less TIF purpose (7,596,086)
Net City Purpose 121,776,127$ 100.0000%121,776,127$
Total Net Direct Debt 121,776,127
Overlapping Debt
Oshkosh Area Public School District 147,975,000 72.3000%106,985,925
Fox Valley Technical College 75,190,000 9.9798%7,503,812
Winnebago County 29,253,823 29.1700%8,533,340
Total Overlapping Debt 123,023,077
244,799,204$
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, 2022
TOTAL DEBT
Applicable to City
175
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Equalized Value 5,336,259,600$ 4,821,112,500$ 4,460,244,100$ 4,211,595,500$ 4,073,682,600$ 3,931,778,200$ 3,776,225,300$ 3,743,645,000$ 3,748,827,600$ 3,759,269,500$
Debt limitation - 5% of equalized value 266,812,980 241,055,625 223,012,205 210,579,775 203,684,130 196,588,910 188,811,265 187,182,250 187,441,380 187,963,475
Debt applicable to limitation
Total outstanding general obligation debt 136,467,213 121,979,315 125,376,821 130,216,915 132,788,606 136,799,914 138,876,319 145,410,531 147,228,958 141,394,927
Less: Debt service fund - - (124,348) (2,189,515) (1,092,465) (923,371) (760,004) (976,051) (1,536,834) (1,766,431)
Less: Other funds available for debt retirement - - - - - - - - - (1,631,854)
% Of Change
CITY OF OSHKOSH, WISCONSIN
Legal Debt Margin Information
Last Ten Fiscal Years
December 31, 2022
176
Fiscal Utility Service
(1)
Less: Operating
(2)
Net Revenue
Available for Debt
Principal Interest
Revenue
Fiscal Utility Service
(1)
Less: Operating
(2)
Net Revenue
Available for Debt
Principal Interest
Revenue
Fiscal Utility Service
(1)
Less: Operating
(2)
Net Revenue
Available for Debt
Principal Interest
Revenue
Includes total operating expenses less: depreciation, bond issue expense and interest expense.
CITY OF OSHKOSH, WISCONSIN
Pledged-Revenue Coverage
Last Ten Fiscal Years
December 31, 2022
Water Revenue Bonds
Debt Service
Sewer Revenue Bonds
Debt Service
Storm Water Revenue Bonds
Debt Service
Includes total operating revenues and investment income.
177
Total
Personal Per Capita Median School Unemployment
Year (1)Income (2)Income (3)Age (3)Enrollment (4)Rate (5)
2022 66,816 $2,253,703,680 $33,730 34.3 10,623 2.5%
2021 67,610 2,329,164,500 34,450 34.3 9,191 2.9%
2020 67,408 2,204,376,416 32,702 34 10,494 4.6%
2019 67,201 2,076,309,297 30,897 34 11,050 3.2%
2018 66,945 2,068,399,665 30,897 33.6 11,158 2.7%
2017 66,636 2,073,912,228 31,123 33.6 11,131 3.1%
2016 66,717 2,076,433,191 31,123 N/A 11,128 3.2%
2015 66,327 1,917,115,608 28,904 32.8 11,141 3.8%
2014 66,778 1,865,643,764 27,938 33.9 11,226 4.8%
2013 66,653 1,819,960,165 27,305 32.8 11,465 5.9%
Source:
(1) U.S. Census Bureau - WI Dept of Adminstration
(2) Computation of per capita personal income multiplied by population
(3) U.S. Census Bureau, http://www.census.gov/
(4) WI Department of Public Instruction, https://dpi.wi.gov/wisedash
(5) Wisconsin Department of Workforce Development Website: worknet.wisconsin.gov
N/A = Not Available at time of publication
City of Oshkosh, Wisconsin
Demographic and Economic Statistics
Last Ten Years
December 31, 2022
178
2012
Percentage of Oshkosh
Total City Financial
Employees Employment Report
Manufacturing
Oshkosh Corporation 6,900 20.74%4,500
Amcor (all Oshkosh locations)3,969 11.93%2,325
Silver Star Brands Inc. / Miles Kimball Co.650 1.95%650
Hoffmaster, A Solo Cup Company,440 1.32%481
(Scott Worldwide Food Service)
Muza Metal Products 250 0.75%225
Lapham-Hickey Steel 256 0.77%285
Non-Manufacturing
Aurora Medical Center & Aurora Group 1,036 3.11%905
U S Bank (Firstar)1,144 3.44%675
4imprint (Nelson Marketing)819 2.46%456
Ascension Health 539 1.62%606
Oshkosh Community YMCA 200 0.60%200
Miravida Living 275 0.83%394
Wal-Mart 318 0.96%318
Clarity Care (Residential Care RCDD)420 1.26%326
United Parcel Service 200 0.60%200
Government
University of WI - Oshkosh 1,288 3.87%1,483
Oshkosh Area School District 1,290 3.88%1,388
Winnebago County 1,046 3.14%996
Winnebago Mental Health Institute 625 1.88%527
City of Oshkosh Full-Time 569 1.71%634
Oshkosh Correctional Institution 502 1.51%519
CESA6 200 0.60%200
Oshkosh's Labor Force Estimates **33,273
**Source: WI DWD - Data Search - Labor Force - Oshkosh - Annual
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*
CITY OF OSHKOSH, WISCONSIN
Current Year and Ten Years Ago
2022
December 31, 2022
179
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
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 3.65 4.00 3.65 4.00 4.00 3.00 3.00 3.00 3.00 3.00
Human Resources 6.00 6.00 6.00 6.00 6.00 5.00 5.00 6.00 6.00 6.00
Clerk 3.00 4.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Finance 14.00 14.00 16.00 15.28 15.28 14.80 14.80 12.80 12.00 12.00
Purchasing 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
I T / Central Services 8.40 10.00 7.40 7.40 7.40 7.40 7.40 7.40 7.40 7.40
Facilities Maint.6.00 6.00 5.80 5.80 5.80 5.80 5.80 5.80 5.00 5.00
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
Police 131.36 127.00 131.36 129.00 128.49 127.49 127.49 115.00 115.00 114.00
Fire 114.00 117.00 109.00 108.00 108.00 108.00 108.00 108.00 107.00 107.00
Public Works
Public Works Admin.1.85 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Engineers 12.13 13.00 12.80 11.70 11.70 11.70 11.70 11.70 11.00 12.00
Streets 27.00 25.00 29.00 29.00 29.00 29.00 29.00 29.00 29.00 29.00
Central Garage 10.00 11.00 10.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00
Garbage - - - - - - - - 8.00 8.00
Parks
Parks 18.80 16.00 15.87 16.00 15.91 14.89 14.89 14.89 14.89 15.64
Forestry 4.28 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00
Community Development
Assessor 5.80 5.00 5.80 5.80 5.80 5.80 5.80 5.80 5.00 5.00
Economic Development 5.00 6.00 5.00 5.00 5.00 5.00 5.00 4.80 4.80 3.00
Planning 9.00 9.00 9.00 9.00 9.00 9.00 9.00 8.50 8.50 7.50
Inspection Services 8.25 8.25 7.74 7.62 7.62 7.50 7.50 7.50 7.50 7.50
Weights and Measures 1.00 1.00 1.30 1.50 1.50 1.50 1.50 - - -
Healthy Neighborhood Initiative 0.75 0.75 0.88 0.88 0.88 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 2.54 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 3.75 3.75 3.64 3.64 3.64 3.64 3.64 3.00 3.00 3.00
Senior Services 7.26 6.25 7.07 7.18 7.18 7.18 7.18 5.00 5.00 5.00
Parks Revenue Facilities 0.50 0.50 0.36 0.49 0.49 0.36 0.36 0.36 0.36 0.36
Public Works
Garbage 9.00 9.00 7.50 7.50 7.50 7.50 7.50 8.00
Recycling 5.00 5.00 4.50 4.50 4.50 4.50 4.50 5.00 5.00 5.00
Other
Library 38.80 38.50 39.30 38.65 38.65 37.68 37.68 38.58 40.25 40.25
Museum 12.55 12.00 12.55 11.00 11.00 11.43 11.43 10.00 10.00 10.00
Enterprise Funds
Convention Center 1.00 1.00 1.00 1.00 1.00 1.00 1.00 - - -
Golf Course - - - - - 2.00 2.00 2.00 2.00 2.00
Transit Utility 31.85 35.00 31.85 32.00 32.00 32.00 32.00 29.00 28.00 28.00
Parking Utility 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Water Utility 40.68 44.00 38.02 38.02 35.02 35.02 35.02 34.93 34.93 35.05
Sewer Utility 26.00 26.00 36.92 33.02 33.02 33.02 - 32.68 32.68 33.70
Storm Utility 14.00 14.00 14.17 14.17 10.86 10.85 10.85 10.50 10.50 10.50
Total Full-time Equivalent 598.20 602.00 600.48 588.15 581.24 577.94 544.92 555.24 551.81 550.90
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, 2022
180
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Police
Stations 1 1 1 1 1 1 1 1 1 1
Community Policing Offices 1 1 1 1 mobile 1 mobile 1 mobile 1 mobile I mobile I mobile 0
Patrol Units 30 30 30 30 30 29 29 28 28 28
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)266.14 266.14 266.14 266.14 265.33 260.87 260.05 259.35 258.45 263.05
Street Lights 1,660 1,610 1,540 1,496 1,425 1,405 1,390 1,350 1,350 1,310
City traffic signals (intersections)66 68 68 68 68 68 68 67 62 *
Parks and Recreation
Acreage 417 417 417 416 415 448 445 440 440 440
Playgrounds 19 19 19 19 19 19 19 19 17 17
Baseball/softball diamonds 18 18 18 19 19 19 19 19 18 18
Water
Watermains (miles)298.32 298.37 300.00 300.00 299.04 297.41 313.00 296.09 295.66 294.09
Average Daily Pumpage (Million Gallons per day)5.890 6.211 5.810 5.960 5.980 5.95 5.790 6.170 6.849 6.160
Wastewater
Sanitary sewers (miles)267.7 267.4 267.3 266.51 266.03 266.08 266.50 266.21 266.35 267.04
Storm sewers (miles)275.8 274.4 272.7 270.97 260.35 255.02 256.70 251.97 246.69 *
Transit
Buses 16 16 16 16 16 16 16 16 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, 2022
181
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Police
Physical arrests 3,769 3,514 2,874 3,518 3,675 1,652 2,646 3,854 4,606 5,162 5,727
Traffic Enforcement Citations 5,104 4,501 3,539 6,564 7,077 8,207 7,175 4,720 7,799 7,846 8,919
Reportable Accidents 1,257 1,229 962 1,316 1,370 1,453 1,464 1,434 1,243 1,403 1,453
Fire
Emergency responses 8,840 8,121 8,872 7,480 8,678 7,283 8,591 8,018 8,087 7,625 7,502
Fire responses 119 125 1,180 104 124 132 113 130 107 114 121
Other 1,439 1,305 1,287 1,167 1,475 1,117 844 901 879 783
Refuse Collection
Refuse collected (average tons per day)56 57.82 57.02 53.74 52.83 52.94 51.85 50.42 49.86 49.30 49.23
Refuse collected total tons per year 14,563 15,034.32 14,825.04 13,971.79 13,735.54 13,765.69 13,481.38 13,158.55 13,062.67 12,866.88 12,947.22
Comingled recyclable containers (tons)- 4,421 4,353 4,262 4,317 4,526
Mixed paper and comingled recyclables (tons)3,977 4,193.96 4,293.35 4,177.21 4,257.00 4,327.65
Other Public Works
New street pavement (miles)1 0.25 0.00 0.21 0.33 - 1.01 0.00 0.00 0.16 0.00
Street resurfacing (miles)2 2.15 2.19 2.27 2.73 3.50 2.89 2.25 1.38 2.89 4.89
Inspection
Commercial construction - units 80 485 120 9 8 325 71 248 136 30 6
Commercial construction (thousands of dollars)8,063,529 41,674,417 9,563,646 15,898,993 350,000 23,293,785 14,655,000 15,897,849 11,315,000 4,383,000 283,183
Residential construction - units 74 96 63 35 30 39 25 27 21 21 22
Residential construction (thousands of dollars)12,263,835 17,540,614 14,624,217 8,136,285 7,634,719 7,845,550 4,060,521 4,498,868 3,411,675 3,998,218 3,323,089
Water
New construction (miles)0 0 0 2.41 4.02 4.91 3.43 2.62 2.78 2.54 4.01
Water main leaks 56 75 68 78 110 87 68 77 124 73 77
Average number of residential customers 20,902 21,090 20,809 20,948 20,823 20,585 20,569 21,441 21,268 22,110 20,815
Average annual usage per residential customer, (gallons) 32,989 33,412 34,694 35,000 34,810 35,047 35,774 34,982 35,651 37,198 40,123
Transit
Total route miles 541,129 541,003 539,128 546,190 544,929 538,967 483,085 483,492 481,997 486,540 473,615
Passengers (includes paratransit)619,330 607,527 464,957 818,919 943,195 980,057 995,697 990,431 1,000,778 1,007,785 1,089,681
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, 2022
182
2012 Estimate
2013 Estimate
2014 Estimate
2015 Estimate
2016 Estimate
2017 Estimate 66,636
2018 Estimate 66,945
2019 Estimate 67,201
2020 Estimate 67,408
2021 Estimate 67,610
2022 Estimate 66,816
Year No. Value No. Value
(3)
(4)
(4)
CITY OF OSHKOSH, WISCONSIN
December 31, 2022
66,778
66,653
66,325
POPULATION - CITY OF OSHKOSH (1)
ECONOMICS
UTILITY CUSTOMERS AT YEAR END - CITY OF OSHKOSH
66,327
66,717
BUILDING PERMITS (2)
183
YEAR TOTAL UNITS SINGLE FAMILY TWO FAMILY FAMILY
2016 128 15 10 103
2017 364 31 8 325
2018 38 30 0 8
2019 35 32 0 3
2020 183 49 14 120
2021 581 72 24 485
2022 154 64 10 80
Source: City of Oshkosh Inspection Services Division
CITY OF OSHKOSH, WISCONSIN
NEW DWELLING UNITS CONSTRUCTED
2003-2022
184
First 1,000 CU FT $5.12 per 100 CU. FT.
Next 2,300 CU FT 4.90 per 100 CU. FT.
Next 63,300 CU FT 4.55 per 100 CU. FT.
Over 66,600 CU FT 4.26 per 100 CU. FT.
Meter Size Service
Public Fire
Protection Meter Size Service
Public Fire
Protection
5/8" & 3/4"8.60$ 3.38$ 4"79.00 84.00
1"13.40 8.50 6"137.00 169.00
1-1/4"18.00 13.00 8"207.00 270.00
1-1/2"23.00 17.00 10"294.00 405.00
2"35.00 27.00 12"381.00 541.00
3"54.00 51.00
Billings Usage (00's)
State of Wi Correctional Institute 149,057 680,799.13
Bemis/Curwood/Milprint 67,019 303,207.08
Pepsi-Cola Bottling Co.50,346 220,705.05
UWO Oshkosh 45,602 237,397.86
Winnebago Cty 16,476 91,150.08
Hydrite Chemical 31,770 142,045.97
Oshkosh Corp 29,801 143,583.68
Midwest Realty Management 23,749 135,107.03
City of Oshkosh 21,527 124,389.32
Drug Abuse correction Inst 24,663 110,031.16
Charge per 100 CU FT $6.18 $1.67
Unmetered Customers:
$42.26
Minimum Monthly Charge
CITY OF OSHKOSH, WISCONSIN
UTILITY RATE INFORMATION
December 31, 2022
WATER UTILITY RATES
Monthly Volume Charge
100 Cubic Feet (CU FT) = 748 Gallons
Top Ten Users / Customers
SEWER UTILITY RATES
Monthly Volume Charge
100 Cubic Feet (CU FT) = 748 Gallons Special Charges:
Meter Reading & Billing Charge
for non-sewer deduct meters,
per billing period.
Fixed Monthly Charge
(based on 5 CCF/month)
185
Meter Size Charge Meter Size Charge
5/8" & 3/4"$11.36 4"$122.50
1"18.30 6"238.28
1-1/4"24.09 8"377.22
1-1/2"29.88 10"585.62
2"43.77 12"817.17
3"76.19
Billings Usage (00's)
Billings ERU'S
Fixed Monthly Charge
Top Ten Users / Customers
STORM WATER UTILITY RATES
Top Ten Users / Customers
186
2019 Actuals 2020 Actuals 2021 Original
2021 2022 Change from % of
41 - PROPERTY TAX REVENUE (19,625,639) (20,407,972) (22,233,500) (22,332,993) (22,593,400) (359,900) 1.62%
42 - INTERGOV REVENUE (16,559,975) (18,080,870) (16,726,600) (16,822,255) (16,645,800) 80,800 -0.48%
43 - LICENSES AND PERMITS (1,020,195) (814,123) (947,000) (867,695) (976,100) (29,100) 3.07%
44 - FINES & FORFEITURES (901,930) (554,835) (901,900) (604,003) (862,000) 39,900 -4.42%
45 - CHARGES FOR SERVICES (3,358,025) (3,159,983) (2,966,000) (3,903,125) (2,766,300) 199,700 -6.73%
48 - INTERNAL SERV CHRG (5,004,217) (3,674,602) (3,295,300) (3,535,484) (3,371,400) (76,100) 2.31%
49 - MISC REVENUES (1,094,489) (801,656) (793,200) (878,832) (963,500) (170,300) 21.47%
52 - OTHER FINANCING (1,000,000) (1,009,781) (1,000,000) (1,000,000) (1,542,600) (542,600) 54.26%
53 - SALE-CAPITAL ASSETS (15,057) (39,434) - (118,356)(25,000) (25,000) 100.00%
(48,579,528) (48,543,255) (48,863,500) (50,062,743) (49,746,100) (882,600) 1.81%
61 - DIRECT LABOR 27,957,412 28,117,859 29,150,200 29,424,054 30,896,418 1,746,218 -5.99%
62 - INDIRECT LABOR - - 925,000 - - (925,000) 100.00%
63 - PAYROLL BENEFITS 9,539,973 9,457,855 10,255,500 10,025,198 10,567,964 312,464 -3.05%
64 - CONTRACTUAL SERVICES 4,811,199 5,159,801 5,390,400 5,802,795 6,461,825 1,071,425 -19.88%
65 - MATERIAL & SUPPLIES 2,509,617 2,149,481 2,508,800 2,205,048 1,651,673 (857,127) 34.16%
72 - CAPITAL OUTLAY 255,223 333,893 330,900 288,735 466,421 135,521 -40.96%
74 - OTHER FINANCING USES 1,100,000 50,000 150,000 535,400 525,000 375,000 -250.00%
46,173,424 45,268,890 48,710,800 48,281,230 50,569,301 1,858,501 -3.82%
(2,406,104) (3,274,365) (152,700) (1,781,513) 823,201 975,901 639.10%
2022 General Fund Revenue Budget by Function
CITY OF OSHKOSH, WISCONSIN
187
Function
2022
Adopted
2022
Revised 2022
Actuals
01 - GENERAL GOVERNMENT 7,257,095 7,257,095 7,156,280
61 - DIRECT LABOR 3,245,200 3,245,200 3,172,144
63 - PAYROLL BENEFITS 1,116,900 1,116,900 1,127,205
64 - CONTRACTUAL SERVICES 2,474,011 2,474,011 2,435,036
65 - MATERIAL & SUPPLIES 191,210 191,210 174,101
72 - CAPITAL OUTLAY 229,774 229,774 247,794
74 - OTHER FINANCING USES - - -
02 - PUBLIC SAFETY 30,785,119 30,785,119 31,266,790
61 - DIRECT LABOR 20,656,018 20,656,018 20,684,317
63 - PAYROLL BENEFITS 7,178,564 7,178,564 7,581,903
64 - CONTRACTUAL SERVICES 2,226,703 2,226,703 2,219,078
65 - MATERIAL & SUPPLIES 454,488 454,488 502,575
72 - CAPITAL OUTLAY 226,847 226,847 236,417
74-OTHER FINANCING USES 42,500 42,500 42,500
03 - PUBLIC WORKS 5,405,305 5,405,305 5,217,187
61 - DIRECT LABOR 3,271,200 3,271,200 3,060,010
63 - PAYROLL BENEFITS 1,180,200 1,180,200 1,186,216
64 - CONTRACTUAL SERVICES 361,620 361,620 583,116
65 - MATERIAL & SUPPLIES 592,285 592,285 387,845
72-CAPITAL OUTLAY - - -
04 - TRANSPORTATION 848,100 848,100 835,823
61 - DIRECT LABOR 472,300 472,300 477,137
63 - PAYROLL BENEFITS 174,900 174,900 192,126
64 - CONTRACTUAL SERVICES 76,900 76,900 75,552
65 - MATERIAL & SUPPLIES 114,200 114,200 83,082
72 - CAPITAL OUTLAY 9,800 9,800 7,926
06 - CULTURE & RECREATION 2,560,390 2,560,390 2,570,673
61 - DIRECT LABOR 1,415,300 1,415,300 1,389,351
63 - PAYROLL BENEFITS 468,100 468,100 495,661
64 - CONTRACTUAL SERVICES 399,500 399,500 433,598
65 - MATERIAL & SUPPLIES 277,490 277,490 252,062
07 - CONSERVATION & DEVELOPMENT 2,009,300 2,009,300 1,800,676
61 - DIRECT LABOR 1,336,400 1,336,400 1,219,705
63 - PAYROLL BENEFITS 390,600 390,600 371,817
64 - CONTRACTUAL SERVICES 268,500 268,500 201,251
65 - MATERIAL & SUPPLIES 13,800 13,800 7,904
08 - UNCLASSIFIED 1,773,791 1,773,791 1,280,361
61 - DIRECT LABOR 500,000 500,000 413,367
63 - PAYROLL BENEFITS 58,700 58,700 22,322
64 - CONTRACTUAL SERVICES 656,791 656,791 172,097
65 - MATERIAL & SUPPLIES 8,300 8,300 (27,425)
72-CAPITAL OUTLAY - - -
74 - OTHER FINANCING USES 550,000 550,000 700,000
40 - DEBT SERVICE 12,741,700 12,741,700 13,257,673
64 - CONTRACTUAL SERVICES - - -
67 - DEBT SERVICE 12,741,700 12,741,700 13,257,673
74 - OTHER FINANCING USES - - -
Grand Total 63,380,801 63,380,801 63,385,464
CITY OF OSHKOSH, WISCONSIN
2022 Operating Expenditure Budget by Function
188
PER $1,000 2022 2021 INCREASE
OF TAXES TAX RATE TAX RATE (DECREASE)
State 0.000%-$ -$ -$
County 17.436%5.433 5.407 0.026
City Tax 38.894% 12.118 11.608 0.510
Area Schools 40.228% 12.534 11.350 1.184
Area Vocational 3.441%1.072 1.090 (0.017)
100.000% 31.156 29.455 1.702
State Credit 1.729 1.660 0.070
29.427$ 27.795$ 1.632$
CITY OF OSHKOSH
2023 LEVY - 2022 TAX RATE
State
0.000%
County
17.436%
City Tax
38.894%
Area Schools
40.228%
Area Vocational
3.441%
189
2022 2021 INCREASE
SOURCE OF FUNDS AMOUNT PERCENT PERCENT (DECREASE)
GENERAL REVENUES 58,280,000 54.18%53.47%0.71%
INTERGOV REVENUES 23,645,700 21.98%25.47%-3.49%
LICENSES AND PERMITS 2,177,170 2.02%2.01%0.01%
FINES & FORFEITURES 869,600 0.81%0.90%-0.09%
CHARGES FOR SERVICES 6,817,600 6.34%4.34%2.00%
PUBLIC LIBRARY 240,500 0.22%0.23%-0.01%
INTERNAL SERVICE CHARGES 8,811,500 8.19%4.97%3.22%
MISC REVENUES 4,549,400 4.23%4.87%-0.64%
OTHER FINANCING SOURCES 2,103,300 1.96%3.62%-1.66%
SALE OF CAPITAL ASSETS 76,500 0.07%0.11%-0.04%
107,571,270$ 100.00%100.00%
CITY OF OSHKOSH, WISCONSIN
2023 BUDGET SOURCE OF FUNDS - REVEUNES
GENERAL REVENUES
54%
INTERGOV REVENUES
22%
LICENSES AND PERMITS
2%
FINES & FORFEITURES
1%
CHARGES FOR SERVICES
7%PUBLIC LIBRARY
<1%
INTERNAL SERVICE
CHARGES
8%
MISC REVENUES
4%
OTHER FINANCING
SOURCES
2%
SALE OF CAPITAL ASSETS
<1%
190
2022 2021 INCREASE
USE OF FUNDS AMOUNT PERCENT PERCENT (DECREASE)
01 - GENERAL GOVERNMENT 7,176,900 10.19%11.22%-1.03%
02 - PUBLIC SAFETY 32,091,800 45.57%48.99%-3.42%
03 - PUBLIC WORKS 4,761,300 6.76%8.51%-1.75%
04 - TRANSPORTATION 880,600 1.25%1.36%-0.11%
06 - CULTURE & RECREATION 2,588,100 3.67%3.99%-0.32%
07 - CONSERVATION & DEVELOPMENT 2,153,800 3.06%3.21%-0.15%
08 - UNCLASSIFIED 5,154,900 7.32%2.35%4.97%
40 - DEBT SERVICE 15,620,000 22.18%20.38%1.80%
70,427,400 100.00%100.00%
CITY OF OSHKOSH, WISCONSIN
2023 BUDGET USE OF FUNDS - EXPENDITURES
01 - GENERAL
GOVERNMENT
10.19%
02 - PUBLIC SAFETY
45.57%
03 - PUBLIC WORKS
6.76%
04 - TRANSPORTATION
1.25%
06 - CULTURE &
RECREATION
3.67%
07 - CONSERVATION &
DEVELOPMENT
3.06%
08 - UNCLASSIFIED
7.32%
40 - DEBT SERVICE
22.18%
191
AMOUNT PERCENT
61 - DIRECT LABOR 30,215,700 43.3147%
63 - PAYROLL BENEFITS 10,645,500 15.2605%
64 - CONTRACTUAL SERVICES 8,715,300 12.4935%
65 - MATERIAL & SUPPLIES 1,496,900 2.1458%
67 - DEBT SERVICE 15,620,000 22.3915%
72 - CAPITAL OUTLAY 285,200 0.4088%
74 - OTHER FINANCING USES 2,780,000 3.9852%
69,758,600$ 100.0000%
CITY OF OSHKOSH, WISCONSIN
2023 BUDGET - USE OF FUNDS BY FUNCTION
61 - DIRECT LABOR
43.31%
63 - PAYROLL
BENEFITS
15.26%
64 - CONTRACTUAL
SERVICES
12.49%
65 - MATERIAL &
SUPPLIES
2.15%
67 - DEBT SERVICE
22.39%
72 - CAPITAL
OUTLAY
0.41%74 - OTHER
FINANCING USES
3.99%
192
ADDITIONAL REPORT
193
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 City Council
City of Oshkosh
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 aggregate discretely presented component unit, each major fund and the aggregate remaining fund
information of the City of Oshkosh, Wisconsin (City), as of and for the year ended December 31, 2022, and the
related notes to the financial statements, which collectively comprise the City’s basic financial statements, and
have issued our report thereon dated July 25, 2023.
Report on 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 entity’s financial statements
will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and
was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant
deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we
consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were
not identified.
194
To the City Council
City of Oshkosh, Wisconsin
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free of material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants
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.
City of Oshkosh, Wisconsin’s Response to Findings
Government Auditing Standards requires the auditor to perform limited procedures on the City of Oshkosh,
Wisconsin’s response to the findings identified in our audit and described in the accompanying schedule of findings
and questioned costs. The City of Oshkosh, Wisconsin’s response was not subjected to the other auditing
procedures applied in the audit of the financial statements and, accordingly, we express no opinion on the response.
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 entity’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.
KerberRose SC
Certified Public Accountants
Oshkosh, Wisconsin
July 25, 2023