HomeMy WebLinkAbout2023ACFR
City of Oshkosh, Wisconsin
2023 Annual Comprehensive
Financial Report
for the fiscal Year Ended December 31, 2023
CITY OF OSHKOSH, WISCONSIN
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023
Submitted by:
City of Oshkosh Finance Department
Julie Calmes, CPA, Director of Finance
Hailey Palmquist, Assistant Finance Director
CITY OF OSHKOSH, WISCONSIN
Table of Contents
December 31, 2023
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
7 - 8
9
10 -11
12
13 - 14
15 - 16
17 - 18
19
Balance Sheet – Governmental Funds
Reconciliation of the Balance Sheet – Governmental Funds to the Statement
of Net Position
Statement of Revenues, Expenditures and Changes in Fund Balances
–Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances – Governmental Funds to the Statement of Activities
Statement of Net Position – Proprietary Funds
Statement of Revenues, Expenses and Changes in Net Position – Proprietary Funds
Statement of Cash Flows – Proprietary Funds
Statement of Fiduciary Net Position – Fiduciary Fund
Statement of Changes in Net Position – Fiduciary Fund 20
Notes to Financial Statements 21 - 61
REQUIRED SUPPLEMENTARY INFORMATION
Schedules of Employer’s Proportionate Share of the Net Pension Liability (Asset) and
Employer Contributions – Wisconsin Retirement System 62
Schedules of Employer’s Proportionate Share of the Net OPEB Liability and Employer
Contributions – Local Retiree Life Insurance Plan 63
Schedule of Changes in Total OPEB Liability and Related Ratios 64
Schedule of Budgetary Comparison –
Budget and Actual – General Fund 65
Notes to Required Supplementary Information 66 - 67
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2023
SUPPLEMENTARY INFORMATION
Combining Balance Sheet – Nonmajor Governmental Funds 68 - 75
Combining Statement of Revenues, Expenditures and Changes in Fund Balances –
Nonmajor Governmental Funds 76 - 83
Combining Statement of Net Position – Nonmajor Enterprise Funds
Combining Statement of Revenues, Expenses and Changes in Net Position – Nonmajor
Enterprise Funds
84 - 85
86 - 87
Combining Statement of Cash Flows – Nonmajor Enterprise Funds 88 - 89
Combining Statement of Net Position (Deficit) – Internal Service Funds 90
Combining Statement of Revenues, Expenses and Change in Net Position (Deficit) –
Internal Service Funds 91
Combining Statement of Cash Flows – Internal Service Funds 92
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget to Actual -
Debt Service
Equipment
93
94
Special Assessment Improvement 95
Senior Services 96
Business Improvement District 97
Recycling 98
Street Lighting 99
Library 100
Museum 101
Cemetery 102
Community Development Block Grant 103
Neighborhood Improvement Loan Program 104
Local Revolving Loan Program 105
Senior Services Revolving Loans 106
Police Special 107
Fire Special 108
Community Development Special 109
Park Revenue Facilities 110
Leach Amphitheater 111
Public Works Special 112
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2023
SUPPLEMENTARY INFORMATION (Continued)
Garbage Collection and Disposal 113
Pollock Water Park 114
Health Neighborhood Initiative 115
Rental Inspections 116
Street Tree Memorial 117
Park Improvement and Acquisition 118
Grand Opera House 119
Parking Ramp Improvements 120
TIF No. 8 S Aviation Industrial 121
TIF No. 12 Division Street 122
TIF No. 13 Marion Road/Pearl Avenue 123
TIF No. 14 Mercy Medical Center 124
TIF No. 15 Park Plaza/Commerce Street 125
TIF No. 16 100 Block Redevelopment 126
TIF No. 17 City Center Redevelopment 127
TIF No. 18 SW Industrial Park Expansion 128
TIF No. 19 NW Industrial Expansion 129
TIF No. 20 South Shore Redevelopment 130
TIF No. 21 Fox River Corridor 131
TIF No. 23 SW Industrial Park Expansion 132
TIF No. 24 Oshkosh Corp E-COAT 133
TIF No. 25 City Center Hotel 134
TIF No. 26 Aviation Business Park 135
TIF No. 27 North Main Street Industrial Park 136
TIF No. 28 Beach Building Redevelopment 137
TIF No. 29 Morgan District 138
TIF No. 30 Washington Building 139
TIF No. 31 Buckstaff Redevelopment 140
TIF No. 32 Granary Redevelopment 141
TIF No. 33 Lamico Redevelopment 142
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2023
SUPPLEMENTARY INFORMATION (Continued)
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
TIF No. 34 Oshkosh Corp Headquarters
TIF No. 35 Oshkosh Avenue Corridor
TIF No. 36 Merge Redevelopment
TIF No. 37 Aviation Plaza
TIF No. 38 Pioneer Redevelopment
TIF No. 39 Cabrini School Redevelopment
TIF No. 40 Miles Kimball Redevelopment
TIF No. 41 Smith School Redevelopment
TIF No. 42 Morgan Crossing
Transit Utility
Water Utility
Sewer Utility
Stormwater Utility
Parking Utility
Oshkosh Convention Center
Industrial Park Land
Inspection Services
Health Insurance
Worker’s Compensation
Field Operations 162
STATISTICAL SECTION
Net Position 163
Changes in Net Position 164 – 165
Fund Balances, Governmental Funds 166
Changes in Fund Balances, Governmental Funds 167
Assessed and Estimated Actual Value of Taxable Property 168
Property Tax Rates – Direct and Overlapping Governments 169
Principal Taxpayers 170
Property Tax Levies and Collections 171
Outstanding Debt by Type 172
Ratios of Net General Bonded Debt Outstanding 173
Direct and Overlapping Governmental Activities Debt 174
Legal Debt Margin Information 175
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2023
STATISTICAL SECTION (Continued)
Pledged-Revenue Coverage
Water Revenue Bonds 176
Sewer Revenue Bonds 176
Stormwater Revenue Bonds 176
Demographic an Economic Statistics 177
Principal Employers 178
Full-time Equivalent City Government Employees by Function / Program 179
Capital Asset Statistics by Function / Program 180
Operating Indicator by Function / Program 181
Economics – Population, Building Permits, and Utility Customers 182
New Dwelling Units Constructed 183
Utility Information 184-185
Budgeted Revenues 186
Operating Expenditure Budget by Function 187
Pie Charts -
Levy Rate 188
Source of Funds (Where the Money Comes From) 189
Use of Funds (Where the Money Goes) 190
Use of Funds by Function (How the Money Goes) 191
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 192-193
July 27, 2024
Honorable Mayor, Members of the City Council, and the Citizens of Oshkosh:
The Annual Comprehensive Financial Report for the fiscal year ended December 31, 2023, 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, including 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 and its
various funds and account groups; and that all of the disclosures necessary to enable the reader to gain
the maximum understanding of the City’s financial activities have been included.
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
Street Improvement
Special Assessments
Equipment
Park Subdivision Improvement
Senior Center Revolving
Grand Opera House
Parking Ramp Improvements
Enterprise
Funds
Transit Utility
Water Utility
Parking Utility
Sanitary Sewer Utility
Stormwater Utility
Redevelopment Authority
Internal Service
Funds
Health Insurance
Worker’s Compensation
Custodial/
Permanent
Tax Collection
Investment/Trust Fund
The Redevelopment Authority is a component unit of the City, so this report includes 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
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.
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.
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
$20,514,484. In 2021 the City issued a resolution stating the funds will be used as follows: 75% to
infrastructure projects and 25% to non-City programming or direct assistance. At the end of 2023, the
City had appropriated $13,387,850 to infrastructure projects and $2,775,480 to non-City programming or
direct assistance. The City has until December 31, 2024 to obligate the full amount of ARPA funds.
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:
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 effective 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 objectives 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
ACCOUNTING SYSTEM AND BUDGETARY CONTROL
The City’s accounting records for general government operations are maintained on a modified accrual
basis, with the revenues being recorded when available and measurable and expenditures being
recorded when the services or goods are received and the liabilities are incurred. Accounting records for
the City’s utilities and other enterprise funds are maintained on an accrual basis.
In developing and modifying the City’s accounting system, consideration is given to the adequacy of
internal accounting controls. Internal accounting controls are designed to provide reasonable, but not
absolute, assurance regarding:
1) The safeguarding of assets against loss from unauthorized use or disposition and
2) The reliability of financial records for preparing financial statements and maintaining
accountability for assets.
The concept of reasonable assurance recognizes that:
1) The cost of a control should not exceed the benefits likely to be derived and
2) The evaluation of costs and benefits requires estimates and judgment by management.
All internal control evaluations occur within the above framework. 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,
2023.
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
recommendations from various boards and commissions; (iv) establishing policies and measures to
promote the general welfare of the City and safety and health of its citizens; and (v) representing the City
at official functions with other governmental agencies and organizations.
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 40 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
department is led by Julie Calmes, CPA, who is assisted by the Assistant Director of Finance, Hailey
Palmquist, 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.
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 101 sworn officers
and 29 full and part-time civilian employees, 4 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 118 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, Arts and Culture 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 rides are provided each year. A seven-member Transportation
Committee 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 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 of
Oshkosh. In addition to providing flood reduction benefits, the Storm Water Utility is required to comply
with the requirements of the Federal Clean Water Act, administered by the Wisconsin Department of
Natural Resources. These requirements include reducing the amount of pollution discharging into Lake
Winnebago from the storm water generated within the City of Oshkosh.
DEPARTMENT OF COMMUNITY DEVELOPMENT - The Department of Community Development plays
a variety of roles and carries out its responsibilities 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 559 full-time, 94 part-time, and 200 seasonal and poll worker employees,
of which 17 are officials or administrators, 37 are supervisors/managers, and 201 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 $4,804,128 for the year ended December
31, 2023.
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.
INDEPENDENT AUDIT
The City is required to have an annual audit of its financial statements by independent certified public
accountants selected by the City Council. All audit requirements have been complied with and the
auditors’ 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
JULIE CALMES, CPA, Finance Director
HAILEY PALMQUIST, Assistant Director of Finance
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 65,216.
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
171,735 according to the U.S. Census reports from 2023. The MSA also has a
civilian labor force size of 92,688, 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/Term Ending
Matt Mugerauer Mayor (2025)
Karl Buelow Deputy Mayor (2025)
Paul Esslinger Council Member (2025)
Jacob Floam Council Member (2026)
Kris Larson Council Member (2026)
DJ Nichols Council Member (2026)
Joseph Stephenson Council Member (2025)
PRINCIPAL OFFICERS
Name Title
Mark A. Rohloff City Manager
Julie Calmes, CPA Director of Finance
Hailey Palmquist Asst. Director of Finance
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
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, 2023, 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, 2023, 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 of 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 – 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 and statistical sections 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 2022 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 July 25, 2023.
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, 2022, 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 31, 2024 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 31, 2024
MANAGEMENT'S 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, 2023. 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 $176,428,146 (net position) as of December 31,
2023. Of this amount, $43,670,764 may be used to meet the City’s ongoing obligations to citizens
and creditors.
During 2023, the City’s governmental activities net position increased by $3,812,067 from 2022, or
approximately 2.55%.
As of December 31, 2023, the City’s governmental funds reported combined ending fund balances
of $94,000,066, a decrease of $13,400,087. Approximately 52.76% of this total amount,
$49,594,339 is available for spending at the City’s discretion (assigned and unassigned fund
balance).
At the close of 2023, the unassigned fund balance for the general fund was $17,822,646, or
approximately 34.97% of total general fund expenditures. The general fund unassigned balance
decreased by $1,861,984 from 2022.
The City’s total general-obligation debt decreased by $9,933,971 (7.28%) during 2023.The key
factor in this decrease was the issuance of $6,325,000 of general obligation debt and $16,258,971
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 welfare, parks and recreation, transportation, community development, and TIF districts. The
business-type activities of the City include mass transit services, water utility, sewer utility, parking utility,
Oshkosh redevelopment project, industrial park, stormwater utility and inspection services.
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
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
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, equipment fund, and special assessment
improvement funds which are considered to be major funds. Data from the other 68 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 8 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 5 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 4 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 5 internal service funds are combined into a single, aggregated presentation in the
proprietary fund financial statements. Individual fund data for the internal service funds is provided in the
form of combining statements elsewhere in this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside
the government. Fiduciary funds are not reflected in the government-wide financial statements because
the resources of those funds are not available to support the City’s own programs. The accounting used
for fiduciary funds is much like that used for proprietary funds.
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
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 $454,058,918 and $431,911,595 at the close of 2023 and 2022,
respectively.
By far the largest portion of the City’s net position (65.92%) and (44.17%) for 2023 and 2022, 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 (12.50%) and (17.23%) for 2023 and 2022, respectively,
represents resources that are subject to external restrictions on how they may be used. The remaining
balance of unrestricted net position ($97,985,929) and ($166,724,869) for 2023 and 2022, respectively,
may be used to meet the City’s ongoing obligations to citizens and creditors.
2023 2022 2023 2022 2023 2022
Current and other assets 187,698,649$ 223,414,074$ 122,090,718$ 132,620,078$ 309,789,367$ 356,034,152$
Capital assets 199,940,196 186,437,185 410,703,884 388,450,140 610,644,080$ 574,887,325$
Total assets 387,638,845 409,851,259 532,794,602 521,070,218 920,433,447 930,921,477
Deferred outflows of resources 66,625,168 52,637,123 9,880,771 9,323,320 76,505,939 61,960,443
Long-term liabilities outstanding 152,500,558 145,996,812 252,584,478 254,985,149 405,085,036 400,981,961
Other liabilities 31,190,005 31,351,392 4,835,597 4,765,817 36,025,602 36,117,209
Total liabilities 183,690,563 177,348,204 257,420,075 259,750,966 441,110,638 437,099,170
Deferred inflows of resources 94,145,304 112,434,541 7,624,526 10,836,704 101,769,830 123,271,245
Net position:
Net investment in capital assets 99,716,458 53,195,094 199,594,366 137,581,623 299,310,824 190,776,717
Restricted 33,040,924 51,247,266 23,721,241 23,162,743 56,762,165 74,410,009
Unrestricted 43,670,764 68,173,719 54,315,165 98,551,150 97,985,929 166,724,869
Total net position 176,428,146$ 172,616,079$ 277,630,772$ 259,295,516$ 454,058,918$ 431,911,595$
City of Oshkosh's Net Position
December 31, 2023 and 2022
Governmental Activities Business-type Activities Total Primary Government
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Change in net position. Governmental activities increased the City’s net position by $3,812,067 in 2023
and increased by $22,147,323 in 2022. Ongoing reevaluations of controls over investments at foundations
revealed that certain investments were under the City's control, necessitating a restatement to include these
investments in the 2022 restricted cash and investments. Business-type activities increased the City’s net
position by $18,335,256 in 2023 and by $12,800,280 in 2022. Total net position of the City increased in
2023 by $22,147,323 and in 2022 by $35,356,115. Key elements of this change are as follows:
Revenues are grouped by program revenues and general revenues. For governmental activities, charges
for services constitute the largest portion of program revenues at 72.19%, while property and other taxes
account for the largest share of general revenues at 66.57%. Program revenues make up the largest portion
of business activities, with charges for services representing 90.06% of all revenues.
Expenditures are categorized by city function. Public safety comprises the largest share of expenditures for
the City, accounting for 39.52% of governmental activities. Public works and culture and recreation follow,
at 16.34% and 15.83%, respectively. Sanitary sewer and water utility account for the largest portion of
business activities expenditures, at 30.91% and 28.92%, respectively.
2023 2022 2023 2022 2023 2022
Revenues:
Program Revenues
Charges for Services 13,738,358$ 17,233,261$ 55,057,405$ 50,389,807$ 68,795,763$ 67,623,068$
Operating Grants and Contributions 3,716,565 4,613,635 6,067,361 5,718,652 9,783,926 10,332,287
Capital Grants and Contributions 1,576,661 1,081,183 9,485 494,942 1,586,146 1,576,125
General Revenues
Property and Other Taxes 49,671,659 49,737,317 809,500 809,500 50,481,159 50,546,817
Grants and Contributions Not -
Restricted to Specific Programs 18,368,054 18,667,511 - - 18,368,054 18,667,511
Other 6,578,696 3,225,692 4,547,105 (361,600) 11,125,801 2,864,092
Total Revenues 93,649,993 94,558,599 66,490,856 57,051,301 160,140,849 151,609,900
Expenses:
General Government 10,163,970 4,988,993 - - 10,163,970 4,988,993
Public Safety 36,115,129 27,051,801 - - 36,115,129 27,051,801
Public Works 14,935,074 12,205,439 - - 14,935,074 12,205,439
Transportation 940,189 717,540 - - 940,189 717,540
Health and Human Services 1,204,953 1,016,550 - - 1,204,953 1,016,550
Culture and Recreation 14,464,154 11,850,757 - - 14,464,154 11,850,757
Conservation and Development 9,021,225 11,049,663 - - 9,021,225 11,049,663
Unclassified 571,916 487,363 - - 571,916 487,363
Interest and Fiscal Charges 3,963,916 4,177,258 - - 3,963,916 4,177,258
Transit Utility - - 6,458,182 6,144,767 6,458,182 6,144,767
Water Utility - - 13,482,273 12,067,282 13,482,273 12,067,282
Sewer Utility - - 14,408,847 13,553,819 14,408,847 13,553,819
Stormwater Utility - - 8,633,769 7,699,013 8,633,769 7,699,013
Non Major Funds - - 3,629,929 3,243,540 3,629,929 3,243,540
Total Expenses 91,380,526 73,545,364 46,613,000 42,708,421 137,993,526 116,253,785
Transfers 1,542,600 1,542,600 (1,542,600) (1,542,600) - -
Total Expenses and Transfers 89,837,926 72,002,764 48,155,600 44,251,021 137,993,526 116,253,785
Change in Net Position 3,812,067 22,555,835 18,335,256 12,800,280 22,147,323 35,356,115
Net Position - January 1 172,101,980 149,546,145 259,295,516 246,495,236 431,397,496 396,041,381
Prior Period Adjustment 514,099 - - - 514,099 -
Net Position - January 1, Restated 172,616,079 149,546,145 259,295,516 246,495,236 431,911,595 396,041,381
Net Position - December 31 176,428,146$ 172,101,980$ 277,630,772$ 259,295,516$ 454,058,918$ 431,397,496$
Governmental Activities Business-type Activities Total Primary Government
City of Oshkosh's Change in Net Position
For Years Ended December 31, 2023 and 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, 2023 and 2022, the City’s governmental funds reported combined ending fund
balances of $94,000,066 and $107,400,153, a 2023 decrease of $13,400,087 and an increase of
$21,852,794 in 2022. Of the total fund balance, $4,558,347 and $7,670,380 constitutes unassigned fund
balance, which is available for spending at the City’s discretion. The remainder of fund balance is
nonspendable, restricted, committed or assigned to indicate that it is not available for new spending
because it has already been committed as follows:
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 2023 and 2022, unassigned fund
balance of the general fund was $17,822,646 and $19,684,630, respectively, while total fund balance
reached $18,132,693 and $20,087,646 respectively. As a measure of the general fund’s liquidity, it is useful
to compare both unassigned fund balance to total fund expenditures. Unassigned fund balance represents
34.68% and 41.69% of total general fund expenditures.
The City’s general fund balance decreased by $1,954,953 in 2023, largely due to a $2,000,000 transfer for
debt service and an interfund loan from the general fund to TID 25, as per council resolution 23-340 dated
June 27, 2023.
The debt service fund has a total fund balance of $1,551,959 as of December 31, 2023, a decrease of
$15,443,985 from December 31, 2022. The significant decrease is primarily due to GO debt issued in
2022 for 2023 capital improvement projects.
2023 2022
Nonspendable
Inventories and prepaid items 3,965,909$ 3,969,099$
Restricted for
Tax incremental district development 12,464,418$ 11,546,889$
Debt service 1,551,959 16,995,944
Special purposes 7,662,340 7,782,987
Trust agreements 9,866,830 8,850,705
Total restricted 31,545,547$ 45,176,525$
Committed to
Special purposes 8,894,271$ 8,651,100$
Assigned to
Subsequent year's budget
Special purposes -$ 80,018$
Construction of assets 45,035,992 41,853,031
Total assigned 45,035,992$ 41,933,049$
City of Oshkosh's Governmental Fund Balances
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 2023 and 2022 amounted to $53,981,205
and $98,551,150, respectively. Net position increased $18,335,256 in 2023 and increased $12,800,280 in
2022.
Other factors concerning the finances of these funds have already been addressed in the discussion of the
City’s business-type activities.
General Fund Budgetary Highlights
Generally the original budget is rarely modified.
During 2023 actual revenues were greater than budgeted revenues by $2,359,396, primarily in investment
earnings. Actual expenditures were less than budgeted by $1,340,902 which left a total budget unspent of
$3,700,298.
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.
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, 2023 and 2022, amounted to $610,644,080 and $574,887,325 (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 $35,756,755 or 6.22% for 2023 and increased by
$25,377,012 or 4.62% for 2022.
The major governmental activities in 2023 to City assets include the completion of the new parks
administration building for a total investment of $9,474,431. The completion of the new parks four-seasons
building located along the Fox River was completed in 2023 for a total investment of $2,590,675. The parks
department also began the reconstruction and improvements of the Pratt Trail located in Menominee park
set to be completed in 2024. The roof and flooring at the Oshkosh Public Library were replaced for a
combined investment of $923,720.
Investments in vehicles and equipment in 2023 consisted primarily of replacements to fire and ambulance
equipment and vehicles of $1,121,874. The addition to and replacement of police vehicles in 2023 was
$189,423.
Maintaining existing infrastructure is always a high priority for the City. In 2023 approximately $13.9 million
was invested in various street, bridge, sidewalk and public parking lot improvement projects.
Business-type activities include water utility, stormwater utility, sanitary sewer utility and transit utility. The
water, stormwater and sanitary sewer utility capital assets primarily consist of infrastructure. The 2023
improvements of approximately $6.9 million to the water utility infrastructure includes mains, services,
2023 2022 2023 2022 2023 2022
Land 24,240,413$ 23,438,662$ 15,226,133$ 14,235,768$ 39,466,546$ 37,674,430$
Construction in progress 1,058,587 6,619,772 19,118,483 5,233,033 20,177,070 11,852,805
Buildings & systems 58,717,885 47,287,878 313,632,723 309,937,330 372,350,608 357,225,208
Infrastructure 83,780,600 78,089,684 - - 83,780,600 78,089,684
Machinery and equipment 32,142,711 31,001,189 62,726,545 59,044,009 94,869,256 90,045,198
Total 199,940,196$ 186,437,185$ 410,703,884$ 388,450,140$ 610,644,080$ 574,887,325$
City of Oshkosh's Capital Assets
Governmental Activities Business-type Activities Total Primary Government
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
meters and hydrants. The investment in equipment for 2023 was $799,945. The stormwater utility
completed infrastructure improvements in 2023 of approximately $5.86 million to the distribution systems.
The sanitary sewer utility completed infrastructure improvements in 2023 of approximately $4.6 million.
Long-term debt. At the end of 2023 and 2022, the City had total bonded debt outstanding of $356,546,278
and $368,520,653, respectively. Of this amount, $126,533,242 and $136,467,213, 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).
The City’s total debt decreased by $11,974,375 (3.25%) in 2023 and increased by $32,104,569 (9.54%) in
2022. The significant decrease in total debt resulted from early borrowing in 2022 for 2023 capital
improvement projects, anticipating future interest rate increases. The City maintains an Aa3 rating from
Moody’s Investors Service for its general obligation debt as of December 31, 2023. 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, 2023.
State statutes limit the amount of general obligation debt the City may issue to 5% of its total equalized
valuation. The debt limitation for 2023 and 2022 for the City was $290,607,900 and $266,812,980,
respectively, which is significantly in excess of the City’s $126,533,242 and $136,467,213 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 (Water, Sewer, and Stormwater Utilities). The 2024 fiscal year
combined operating budget includes $170 million in projected revenues and $174 million in projected
expenditures and transfers.
Funding for the operating budget of the City is provided from many sources, including property taxes, room
taxes, grants and aids from the State and County, user fees, permits and licenses, fines, and other
miscellaneous revenues. Several revenue sources are more sensitive to economic factors, in particular
building permits, room taxes and investment earnings. The 2024 budget was developed to consider then
current expectations for such revenue sources compared to 2023 actual results, reflecting the economic
outlook at that time coupled with known development projects. Comparatively strong new construction
values provided property tax levy flexibility, which is expected to continue for the 2025 budget.
Expenditures for salaries, which represent the single largest operating cost, continue to be moderate given
active labor relations efforts. An additional factor limiting such costs was the passage of Wisconsin Act 10
in 2011 which mandated employee payment of pension contributions for most employee groups. All eligible
city employees contributed towards the pension program. The City’s ongoing cost control efforts towards
2023 2022 2023 2022 2023 2022
General obligation debt:
Bonds & notes 119,340,738$ 127,310,640$ 7,192,504$ 9,156,573$ 126,533,242$ 136,467,213$
Total general obligation debt 119,340,738 127,310,640 7,192,504 9,156,573 126,533,242 136,467,213
Revenue bonds - - 230,013,036 232,053,440 230,013,036 232,053,440
Total 119,340,738$ 127,310,640$ 237,205,540$ 241,210,013$ 356,546,278$ 368,520,653$
City of Oshkosh's Outstanding Debt
Governmental Activities Business-type Activities Total Primary Government
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
management of health care costs resulted in a minimal increase in budgeted health care premium
contributions charged to department budgets. The 2024 operating budget does not contain significant major
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
ASSETS
Cash and Investments $ 101,067,029 $ 44,384,906 $ 145,451,935 $ 238,792,612 $304,604
Taxes Receivable 36,833,920 579,639 37,413,559 33,943,499 -
Due from Other Governments - 2,172,631 2,172,631 2,130,747 -
Accounts Receivable 5,153,718 9,081,867 14,235,585 10,868,416 -
Interest Receivable 11,392 - 11,392 43,652 -
Special Assessments 5,281,113 - 5,281,113 6,803,491 -
Other Receivables - 30,738 30,738 - -
Loans Receivable 5,969,699 - 5,969,699 6,047,607 -
Other Receivables - - - 3,891 -
Lease Receivable - 91,711 91,711 89,558 -
Deposits with GO HNI - - - 213,769 -
Internal Balances (333,960) 333,960 - - -
Inventory and Prepaid Items 891,939 2,262,981 3,154,920 3,277,661 -
Total Current Assets 154,874,850 58,938,433 213,813,283 302,214,903 304,604
Noncurrent Assets
Restricted Cash and Investments 32,823,799 58,285,708 91,109,507 20,907,480 -
Asset Held for Resale - 4,447,936 4,447,936 4,447,936 7,969,409
Net Pension Asset - - - 27,953,481 -
Lease Receivable - 418,641 418,641 510,352 -
Capital Assets - Nondepreciable 25,299,000 34,344,616 59,643,616 49,527,235 -
Capital Assets - Depreciable, Net 174,641,196 376,359,268 551,000,464 525,360,090 -
Total Noncurrent Assets 232,763,995 473,856,169 706,620,164 628,706,574 7,969,409
TOTAL ASSETS 387,638,845 532,794,602 920,433,447 930,921,477 8,274,013
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension 61,955,399 8,350,272 70,305,671 54,669,031 -
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 4,669,769 1,456,319 6,126,088 7,109,073 -
Deferred Charge on Refunding - 74,180 74,180 182,339 -
Total Deferred Outflows of Resources 66,625,168 9,880,771 76,505,939 61,960,443 -
LIABILITIES
Accounts Payable 11,950,697 1,183,127 13,133,824 9,576,035 2,308
Accrued Liabilities 1,266,857 1,004,988 2,271,845 4,025,975 -
Accrued Interest Payable 364,464 2,397,206 2,761,670 2,574,965 -
Deposits from Others 1,920,063 21,003 1,941,066 1,943,785 25,000
Current Portion of Compensated Absences 385,366 148,325 533,692 681,572 -
Current Portion of Long-Term Obligations 13,333,395 17,200,303 30,533,698 30,884,374 -
Current Portion of Other Post-Employment Benefits Liability 174,995 52,985 227,980 217,124 -
Unearned Revenues:
Grants 62,626 27,963 90,589 2,853 -
American Rescue Plan Act Funds 15,064,937 - 15,064,937 17,312,024 -
Net Pension Liability 16,543,381 2,229,697 18,773,078 - -
Other Post-Employment Benefits Liability 7,684,817 2,424,153 10,108,970 12,076,186 -
Compensated Absences 3,117,965 593,302 3,711,266 4,210,704 -
Noncurrent Portion of Long-Term Obligations 111,821,000 230,137,023 341,958,023 353,593,573 -
TOTAL LIABILITIES 183,690,563 257,420,075 441,110,638 437,099,170 27,308
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 54,428,927 856,600 55,285,527 52,874,627 -
Lease Receivble - 510,352 510,352 599,910 -
Deferred Inflows of Resources Related to Pension 34,734,060 4,681,414 39,415,474 65,808,871 -
Deferred Inflows of Resources Related to
Other Post-Employment Benefits 4,982,317 1,576,160 6,558,477 4,587,747 -
Total Deferred Inflows of Resources 94,145,304 7,624,526 101,769,830 123,871,155 -
NET POSITION
Net Investment in Capital Assets 99,716,458 199,594,366 299,310,824 190,776,717 -
Restricted 33,040,924 23,721,241 56,762,165 74,410,009 -
Unrestricted 43,670,764 54,315,165 97,985,929 166,724,869 8,246,705
TOTAL NET POSITION $ 176,428,146 $ 277,630,772 $ 454,058,918 $ 431,911,595 $ 8,246,705
Redevelopment
Authority
CITY OF OSHKOSH, WISCONSIN
Statement of Net Position
As of December 31, 2023
With Summarized Information from December 31, 2022
Component Unit
2022
Type
Business -
Activities
Governmental
Activities
Total
2023
See Accompanying Notes
4
GOVERNMENTAL ACTIVITIES
General Government $ 10,163,970 $ 909,707 $ 142,724 $-
Public Safety 36,115,129 4,494,535 1,410,845 -
Public Works 14,935,074 6,455,208 658,782 322,452
Transportation 940,189 - - -
Health and Human Services 1,204,953 66,308 97,504 -
Culture and Recreation 14,464,154 868,648 1,204,262 -
Conservation and Development 9,021,225 943,952 202,448 1,254,209
Unclassified 571,916 - - -
Interest and Fiscal Charges 3,963,916 - - -
Total Governmental Activities 91,380,526 13,738,358 3,716,565 1,576,661
BUSINESS-TYPE ACTIVITIES
Transit Utility 6,458,182 1,161,332 5,989,697 -
Water Utility 13,482,273 17,509,978 - 9,485
Sewer Utility 14,408,847 18,137,539 - -
Stormwater Utility 8,633,769 14,217,211 77,664 -
Parking Utility 241,101 85,388 - -
Oshkosh Redevelopment Project 2,209,494 2,632,378 - -
Industrial Park 29,167 26,519 - -
Inspection Services 1,150,167 1,287,060 - -
Total Business-Type Activities 46,613,000 55,057,405 6,067,361 9,485
TOTAL CITY OF OSHKOSH $ 137,993,526 $ 68,795,763 $ 9,783,926 $ 1,586,146
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, AS RESTATED
NET POSITION - END OF YEAR
CITY OF OSHKOSH, WISCONSIN
Statement of Activities
For the Year Ended December 31, 2023
Expenses Services Contributions
Grants and Charges for
Contributions
Grants and
With Summarized Information from December 31, 2022
Program Revenues
Operating Capital
See Accompanying Notes
5
$ (9,111,539) $- (9,111,539) (3,923,131) -
(30,209,749) - (30,209,749) (21,601,364) -
(7,498,632) - (7,498,632) (677,670) -
(940,189) - (940,189) (717,540) -
(1,041,141) - (1,041,141) (854,614) -
(12,391,244) - (12,391,244) (9,786,437) -
(6,620,616) - (6,620,616) (8,391,908) -
(571,916) - (571,916) (487,363) -
(3,963,916) - (3,963,916) (4,177,258) -
(72,348,942) - (72,348,942) (50,617,285) -
- 692,847 692,847 674,924 -
- 4,037,190 4,037,190 3,735,684 -
- 3,728,692 3,728,692 3,103,814 -
- 5,661,106 5,661,106 5,554,209 -
- (155,713) (155,713) (127,893) -
- 422,884 422,884 422,468 -
- (2,648) (2,648) (4,016) -
- 136,893 136,893 535,790 -
- 14,521,251 14,521,251 13,894,980 -
(72,348,942) 14,521,251 (57,827,691) (36,722,305) -
44,920,700 809,500 45,730,200 43,892,500 -
4,103,892 - 4,103,892 6,307,564 -
647,067 - 647,067 346,753 -
-
18,368,054 - 18,368,054 18,667,511 -
5,417,829 4,491,304 9,909,133 972,550 -
127,039 55,801 182,840 158,305 (18,432)
1,033,828 - 1,033,828 1,733,237 15,000
74,618,409 5,356,605 79,975,014 72,078,420 (3,432)
1,542,600 (1,542,600) - - -
3,812,067 18,335,256 22,147,323 35,356,115 334,958
172,616,079 259,295,516 431,911,595 396,555,480 7,911,747
$ 176,428,146 $ 277,630,772 $ 454,058,918 $ 431,911,595 8,246,705
Component
Unit
Redevelopment
Authority 2023ActivitiesActivities
Governmental Business-Type
Net (Expense) Revenue
2022
and Changes in Net Position
See Accompanying Notes
6
ASSETS
Cash and Investments $ 21,279,836 $ 6,045,854 $ 16,728,270
Receivables:
Accounts Receivable 4,377,112 - -
Property Taxes 16,248,646 9,404,005 815,730
Special Assessments - - -
Interest Receivable - - -
Loans Receivable - - -
Deposits with GO HNI - - -
Due from Other Funds 2,300,000 - -
Inventory and Prepaid Items 310,047 - -
TOTAL ASSETS $ 44,515,641 $ 15,449,859 $ 17,544,000
LIABILITIES
Accounts Payable $ 1,038,034 $ 500 $ 646,975
Accrued Liabilities 1,266,857 - -
Due to Other Funds - - -
Deposits from Others 3,431 - -
Unearned Revenues:
Grant 54,626 - -
American Rescue Plan Act Funds - - -
Total Liabilities 2,362,948 500 646,975
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 24,020,000 13,897,400 1,205,500
Special Assessments - - -
Total Deferred Inflows of Resources 24,020,000 13,897,400 1,205,500
FUND BALANCES
Nonspendable 310,047 - -
Restricted - 1,551,959 -
Committed ---
Assigned - - 15,691,525
Unassigned (Deficit)17,822,646 - -
Total Fund Balances 18,132,693 1,551,959 15,691,525
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $ 44,515,641 $ 15,449,859 $ 17,544,000
General Debt Service Equipment
CITY OF OSHKOSH, WISCONSIN
Balance Sheet
Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
See Accompanying Notes
7
$ 17,669,670 $ 66,430,942 $ 128,154,572 $ 143,663,323
4 764,556 5,141,672 3,563,020
- 10,365,539 36,833,920 33,423,086
5,281,113 - 5,281,113 6,803,491
10,357 1,035 11,392 47,543
- 5,969,699 5,969,699 6,047,607
- - - 213,769
- 12,427,770 14,727,770 12,789,527
- 9,561 319,608 322,998
$ 22,961,144 $ 95,969,102 $ 196,439,746 $ 206,874,364
$46 $ 7,943,511 $ 9,629,066 $ 5,457,679
- - 1,266,857 3,020,987
- 14,727,770 14,727,770 12,789,527
1,565,458 351,174 1,920,063 1,922,877
- 8,000 62,626 -
- 15,064,937 15,064,937 17,312,024
1,565,504 38,095,392 42,671,319 40,503,094
- 15,306,027 54,428,927 52,065,127
5,339,434 - 5,339,434 6,905,990
5,339,434 15,306,027 59,768,361 58,971,117
- 3,655,862 3,965,909 3,969,099
- 29,993,588 31,545,547 45,176,525
- 8,894,271 8,894,271 8,651,100
16,056,206 13,288,261 45,035,992 41,933,049
- (13,264,299) 4,558,347 7,670,380
16,056,206 42,567,683 94,000,066 107,400,153
$ 22,961,144 $ 95,969,102 $ 196,439,746 $ 206,874,364
Totals
2023 2022Funds
Special
Assessment
Improvement
Governmental
Nonmajor
See Accompanying Notes
8
2023 2022
Total Fund Balances - Governmental Funds 94,000,066$ 107,400,153$
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 329,942,838$
Governmental Accumulated Depreciation (130,002,642) 199,940,196 186,437,185
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 5,339,434 6,905,990
Net pension asset is not usable in the current period therefore not reported in
the fund financial statements - 24,204,000
Net position of the internal service funds are reported in the statement of net
position as governmental activities 3,665,042 2,433,995
Some deferred outflows and inflows of resources reflect changes in long-term
Loss on Advance Refunding - 71,357
Deferred Outflows Related to Pension 61,955,399 47,336,114
Deferred Outflows Related to Other Post-Employment Benefits 4,669,769 5,224,610
Deferred Inflows Related to Pension (34,734,060) (56,981,736)
Deferred Inflows Related to Other Post-Employment Benefits (4,982,317) (3,383,945)
Net pension liability not payable in the current period therefore not reported in
the fund financial statements (16,543,381) -
Post-employment benefit liability not payable in the current period therefore
not reported in the fund financial statements (7,859,812) (8,993,924)
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 (119,340,738) (127,310,640)
Premium/Discount on Debt Issued (5,813,657) (6,002,808)
Accrued Interest on General Obligation Debt (364,464) (586,849)
Vested Employee Benefits (3,503,331) (4,137,423)
Total Net Position - Governmental Activities
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2022
As of December 31, 2023
Governmental Funds to the Statement of Net Position
Reconciliation of the Balance Sheet
See Accompanying Notes
9
THIS PAGE LEFT BLANK INTENTIONALLY
REVENUES
Taxes $ 24,082,567 $ 13,277,100 $ 1,088,200
Special Assessments - - -
Intergovernmental 16,881,012 - 100,000
Licenses and Permits 809,190 - -
Fines, Forfeitures and Penalties 580,432 - -
Charges for Services 4,278,381 - -
Intergovernmental Charges for Services 3,377,008 - -
Investment Earnings 2,345,098 372,601 -
Donations - - -
Miscellaneous 440,808 - 69,121
Total Revenues 52,794,496 13,649,701 1,257,321
EXPENDITURES
Current:
General Government 7,496,255 - 25,194
Public Safety 33,102,653 - 181,006
Public Works 4,661,367 - 554,543
Transportation 940,189 - -
Health and Human Services - - -
Culture and Recreation 2,675,719 - -
Conservation and Development 1,950,989 - 290,244
Unclassified 571,916 - -
Debt Service:
Principal - 11,297,292 -
Interest and Fiscal Charges - 4,264,076 -
Capital Outlay - -11,744,581
Total Expenditures 51,399,088 15,561,368 12,795,568
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 1,395,408 (1,911,667) (11,538,247)
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - 14,213 4,971,500
Debt Premium - 453,969 -
Sale of Capital Assets 127,039 - -
Transfers In 1,542,600 2,000,000 11,516,500
Transfers Out (5,020,000) (16,000,500) -
Total Other Financing Sources (Use)(3,350,361) (13,532,318) 16,488,000
NET CHANGE IN FUND BALANCES (1,954,953) (15,443,985) 4,949,753
FUND BALANCES - BEGINNING, AS RESTATED 20,087,646 16,995,944 10,741,772
FUND BALANCES - ENDING $ 18,132,693 $ 1,551,959 $ 15,691,525
CITY OF OSHKOSH, WISCONSIN
Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information from December 31, 2022
General
Debt Service
Fund Equipment
See Accompanying Notes
10
$ - $ 11,223,792 $ 49,671,659 $ 49,737,317
4,213,297 140,610 4,353,907 6,059,489
- 5,949,181 22,930,193 21,928,873
- 60,291 869,481 940,170
- - 580,432 573,152
- 1,859,203 6,137,584 6,201,970
- - 3,377,008 3,125,718
- 2,344,589 5,062,288 988,663
- 763,009 763,009 2,110,151
- 834,020 1,343,949 2,515,076
4,213,297 23,174,695 95,089,510 94,180,579
- - 7,521,449 8,014,303
- 219,401 33,503,060 31,800,470
224,277 5,066,147 10,506,334 9,532,540
- - 940,189 717,540
- 1,107,916 1,107,916 1,027,238
- 8,761,607 11,437,326 10,972,175
- 4,366,508 6,607,741 9,167,921
- - 571,916 487,363
1,085,000 1,912,610 14,294,902 13,471,390
248,625 245,363 4,758,064 3,997,944
- 13,944,727 25,689,308 16,846,730
1,557,902 35,624,279 116,938,205 106,035,614
2,655,395 (12,449,584) (21,848,695) (11,855,035)
- 1,339,287 6,325,000 30,410,000
- - 453,969 1,735,824
- - 127,039 44,405
- 7,730,959 22,790,059 2,528,652
- (226,959) (21,247,459) (1,011,052)
- 8,843,287 8,448,608 33,707,829
2,655,395 (3,606,297) (13,400,087) 21,852,794
13,400,811 46,173,980 107,400,153 85,547,359
$ 16,056,206 $ 42,567,683 $ 94,000,066 $ 107,400,153
Nonmajor
Governmental
Funds 2022
Total
2023
Special
Assessment
Improvement
See Accompanying Notes
11
2023 2022
Net Changes in Fund Balances - Total Governmental Funds (13,400,087)$ 21,852,794$
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.
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.
current period - (395,417)
affect the fund financial statements.(3,880,420) 5,819,476
Amounts related to the other post-employment benefit that affect the statement of
(1,019,101) (675,759)
are not reported as revenue in the funds.
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.634,092 (53,339)
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:14,294,902 13,471,390
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 (6,325,000) (30,410,000)
Premium on Debt Issued (453,969) (1,735,824)
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.222,385 (179,740)
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.571,763 444,066
with governmental activities.1,231,047 131,975
Change in Net Position - Governmental Activities
Amounts reported for governmental activities in the statement of
CITY OF OSHKOSH, WISCONSIN
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances -
Governmental Funds to the Statement of Activities
For the Year Ended December 31, 2023
With Summarized Information from December 31, 2022
See Accompanying Notes
12
THIS PAGE LEFT BLANK INTENTIONALLY
ASSETS
Current Assets:
Cash and Investments 2,798,907 13,324,559 11,219,779 14,370,092
Accounts Receivable 186,583 2,789,830 3,540,590 2,268,442
Property Taxes Levied for Subsequent Year 579,639 - - -
Other Receivables - - - -
Lease Receivable - 91,711 - -
Due from Other Funds - - - -
Due from Other Governments 2,172,631 - - -
Prepaid Items 270,718 340,070 363,219 107,523
Inventory 141,304 944,532 80,332 -
Total Current Assets 6,149,782 17,490,702 15,203,920 16,746,057
Noncurrent Assets:
Restricted Cash - 14,521,356 24,399,820 19,364,532
Asset Held for Resale - - - -
Net Pension Asset - - - -
Lease Receivable - 418,641 - -
Land 367,811 141,277 301,288 9,381,340
Construction Work in Progress - 5,123,566 5,679,835 8,315,082
Buildings and Improvements 5,122,072 - - 13,343,953
Infrastructure 517,778 126,632,546 162,290,872 130,062,028
Machinery and Equipment 13,684,504 54,347,518 40,913,011 2,223,519
Accumulated Depreciation (11,930,857) (66,852,696) (73,344,663) (28,284,784)
Total Noncurrent Assets 7,761,308 134,332,208 160,240,163 154,405,670
TOTAL ASSETS 13,911,090 151,822,910 175,444,083 171,151,727
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charge on Advance Refunding - 23,684 50,496 -
Deferred Outflows of Resources Related to Pension 2,005,783 2,614,575 2,354,951 749,976
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 469,441 406,553 359,931 100,970
Total Deferred Outflows of Resources 2,475,224 3,044,812 2,765,378 850,946
CURRENT LIABILITIES
Accounts and Claims Payable 132,653 339,159 170,908 89,681
Accrued Liabilities - 1,004,988 - -
Accrued Interest 2,949 987,810 733,705 641,100
Due to Other Funds - - - -
Deposits from Others - 2,553 13,450 -
Unearned Revenue 27,435 - - -
Current Portion of Other Post-Employment Benefits Liability 17,048 14,802 12,703 3,638
Current Portion Compensated Absences 29,855 52,482 44,791 10,241
Current Portion of Long-Term Obligations 115,000 4,888,809 5,988,799 5,970,000
Total Current Liabilities 324,940 7,290,603 6,964,356 6,714,660
NONCURRENT LIABILITIES
Net Pension Liability 535,586 698,146 628,821 200,259
Noncurrent Portion of Other Post-Employment Benefits Liability 781,965 676,557 605,926 168,685
Noncurrent Compensated Absences 119,421 209,927 179,165 40,963
Noncurrent Portion of Long-Term Obligations 565,000 58,943,208 84,035,894 85,788,112
Total Noncurrent Liabilities 2,001,972 60,527,838 85,449,806 86,198,019
TOTAL LIABILITIES 2,326,912 67,818,441 92,414,162 92,912,679
DEFERRED INFLOWS OF RESOURCES
Total Deferred Inflows of Resources 2,489,615 2,416,024 1,715,320 530,235
NET POSITION
Net Investment in Capital Assets 7,081,308 63,667,172 62,397,184 54,672,322
Restricted 345,695 6,888,681 8,274,656 8,104,494
Unrestricted 4,142,784 14,077,404 13,408,139 15,782,943
TOTAL NET POSITION
Transit Utility Water Utility Sewer Utility
Stormwater
Utility
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2022
As of December 31, 2023
Proprietary Funds
Statement of Net Position
See Accompanying Notes
13
$2,671,569 44,384,906 90,818,666 5,736,256 4,310,623
296,422 9,081,867 7,280,635 12,046 24,761
- 579,639 520,413 - -
30,738 30,738 - - -
- 91,711 89,558 - -
1,341,845 1,341,845 1,240,829 1,668,399 1,719,923
- 2,172,631 2,130,747 - -
15,283 1,096,813 1,192,679 75,000 75,000
- 1,166,168 1,061,689 497,331 625,295
4,355,857 59,946,318 104,335,216 7,989,032 6,755,602
- 58,285,708 20,907,480 - -
4,447,936 4,447,936 4,447,936 - -
- - 3,749,481 - -
- 418,641 510,352 - -
5,034,417 15,226,133 14,235,768 - -
- 19,118,483 5,233,033 - -
8,784,902 27,250,927 26,673,451 - -
3,447,323 422,950,547 406,961,381 - -
1,588,493 112,757,045 111,935,935 - -
(6,186,251) (186,599,251) (176,589,428) - -
17,116,820 473,856,169 418,065,389 - -
21,472,677 533,802,487 522,400,605 7,989,032 6,755,602
- 74,180 110,982 - -
624,987 8,350,272 7,332,917 2,456,392 -
119,424 1,456,319 1,879,421 407,630 5,042
744,411 9,880,771 9,323,320 2,864,022 5,042
- 1,004,988 1,004,988 - -
31,642 2,397,206 1,988,116 - -
1,341,845 1,341,845 1,240,829 1,668,399 1,719,923
5,000 21,003 20,908 - -
528 27,963 2,853 - -
4,794 52,985 56,280 15,926 195
10,956 148,325 226,455 - -
237,695 17,200,303 16,589,472 - -
2,083,186 23,377,745 22,652,398 4,005,956 4,315,977
166,885 2,229,697 - 655,907 -
191,020 2,424,153 3,235,972 659,550 6,939
43,826 593,302 528,398 - -
804,809 230,137,023 234,575,027 - -
1,206,540 235,384,175 238,339,397 1,315,457 6,939
3,289,726 258,761,920 260,991,795 5,321,413 4,322,916
473,332 7,624,526 11,436,614 1,802,894 3,733
11,776,380 199,594,366 137,581,623 - -
107,715 23,721,241 23,162,743 - -
6,569,935 53,981,205 98,551,150 3,728,747 2,433,995
Totals
Governmental Activities - Internal
Service Funds
2023 202220232022Nonmajor Funds
See Accompanying Notes
14
OPERATING REVENUES
Charges for Services $ 1,096,664 $ 17,307,349 $ 18,131,795 $ 14,197,149
Taxes - - - -
Fines, Forfeitures and Penalties - - - -
Other Operating Revenues 64,668 202,629 5,744 20,062
Total Operating Revenues 1,161,332 17,509,978 18,137,539 14,217,211
OPERATING EXPENSES
Operation and Maintenance 5,595,055 7,615,686 7,410,170 2,682,869
Depreciation 973,217 3,902,091 4,010,004 2,584,529
Taxes - 152,240 173,184 57,776
Claims and Administration - -- -
Total Operating Expenses 6,568,272 11,670,017 11,593,358 5,325,174
OPERATING INCOME (LOSS)(5,406,940) 5,839,961 6,544,181 8,892,037
NONOPERATING REVENUES (EXPENSES)
General Property Taxes 809,500 - - -
Gain on Disposal of Capital Assets 13,220 23,643 7,426 11,012
Nonoperating Grants 5,989,697 - - 77,664
Investment Earnings (Loss)55,416 1,219,347 1,540,120 1,591,067
Interest Expense (43,796) (1,923,393) (3,038,056) (3,103,010)
Miscellaneous expense - - (3,215) -
Total Nonoperating Revenues (Expenses)6,824,037 (680,403) (1,493,725) (1,423,267)
INCOME (LOSS) BEFORE
CONTRIBUTIONS AND TRANSFERS 1,417,097 5,159,558 5,050,456 7,468,770
- - - -
- (1,542,600) - -
- 9,485 - -
1,417,097 3,626,443 5,050,456 7,468,770
10,152,690 81,006,814 79,029,523 71,090,989
TRANSFERS IN
TRANSFERS OUT
CAPITAL CONTRIBUTIONS
CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Change in net position as shown above
Some amounts reported for business-type activities in the statement of activities are different because
the net revenue (expense) of certain internal service funds are reported with business-type activities.
CITY OF OSHKOSH, WISCONSIN
Water Utility
Stormwater
Utility
With Summarized Information from December 31, 2022
For the Year Ended December 31, 2023
Proprietary Funds
Statement of Revenues, Expenses and Changes in Net Position
Sewer UtilityTransit Utility
See Accompanying Notes
15
$ 1,365,093 $ 52,098,050 $ 47,645,118 $ 18,045,223 $ 14,274,527
2,530,104 2,530,104 2,337,753 - -
7,355 7,355 12,905 - -
128,793 421,896 394,031 1,502,352 457,416
4,031,345 55,057,405 50,389,807 19,547,575 14,731,943
3,300,278 26,604,058 23,388,731 6,196,164 1,732,859
320,462 11,790,303 11,414,299 - -
- 383,200 404,167 - -
- -- 12,056,659 12,892,962
3,620,740 38,777,561 35,207,197 18,252,823 14,625,821
410,605 16,279,844 15,182,610 1,294,752 106,122
- 809,500 809,500 - -
500 55,801 18,523 - -
- 6,067,361 5,718,652 - -
85,354 4,491,304 (380,123) - 853
(57,929) (8,166,184) (7,501,224) - -
- (3,215) - - -
27,925 3,254,567 (1,334,672) - 853
438,530 19,534,411 13,847,938 1,294,752 106,975
- - - - 755,299
- (1,542,600) (1,542,600) - (730,299)
- 9,485 494,942 - -
438,530 18,001,296 12,800,280 1,294,752 131,975
18,015,500 259,295,516 246,495,236 2,433,995 2,302,020
$ 18,001,296
333,960
2023 2022
Service Funds
Nonmajor Funds
Totals
2023 2022
See Accompanying Notes
16
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers $ 1,141,408 16,901,951 17,455,834 13,762,494
Cash Paid To Suppliers (2,311,916) (3,800,515) (4,361,303) (2,000,691)
Cash Paid to Employees For Wages and Benefits (3,117,357) (3,612,907) (3,302,994) (692,867)
Net Cash Flows From Operating Activities (4,287,865) 9,488,529 9,791,537 11,068,936
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
General Property Taxes 750,274 - - -
Intergovernmental Revenues 5,947,813 - - 77,664
Miscellaneous Expenses - - (3,215) -
Net Cash Flows From Noncapital Financing Activities 6,698,087 (1,542,600) (3,215) 77,664
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of Capital Assets (332,107) (10,881,780) (8,636,957) (13,805,097)
Sale of Capital Assets 13,220 23,643 7,426 11,012
Capital Contributions - 9,485 -
Principal Payments on Long-Term Debt (110,000) (4,808,902) (5,786,502) (5,655,000)
Proceeds from Long-Term Debt - 6,935,000 - 5,650,000
Premiums Received on Long-Term Debt - 497,242 - 426,807
Interest and Fiscal Charges 2,957 (2,016,240) (3,078,959) (3,272,576)
Net Cash Flows From Capital and
Related Financing Activities (425,930) (10,241,552) (17,494,992) (16,644,854)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Return 55,416 1,219,347 1,540,120 1,591,067
2,798,907 27,845,915 35,619,599 33,734,624
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 2,798,907 13,324,559 11,219,779 14,370,092
Restricted Cash and Investments - 14,521,356 24,399,820 19,364,532
Total Reconciliation of Cash Accounts 2,798,907 27,845,915 35,619,599 33,734,624
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss)$ (5,406,940) $ 5,839,961 $ 6,544,181 $ 8,892,037
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Depreciation 973,217 3,902,091 4,010,004 2,584,529
Meter Depreciation Charged to Sewer - 135,375 (135,375) -
Changes in Assets and Liabilities:
Accounts Receivable (19,924) (608,027) (681,705) (454,717)
Other Receivables - - - -
Prepaid Items 25,380 27,959 31,014 10,080
Inventories (50,876) 26,729 (80,332) -
Accounts and Claims Payable (114,724) (45,455) (88,829) 21,090
Accrued Liabilities - - - -
Unearned Revenue 24,900 - - -
Deposits from Others - 45 50 -
Compensated Absences 13,819 (12,406) 5,567 (27,156)
Net Pension Asset 834,527 1,115,132 1,072,612 415,703
Deferred Outflows Related to Pension (373,686) (433,694) (257,227) 63,020
Deferred Inflows Related to Pension (840,165) (1,159,466) (1,204,918) (558,200)
Net Pension Liability 535,586 698,146 628,821 200,259
OPEB Liability (116,448) (218,586) (273,526) (154,092)
Deferred Outflows Related to OPEB 56,170 114,975 137,662 84,049
Deferred Inflows Related to OPEB 171,299 105,750 83,538 (7,666)
Net Cash Flows From
$(4,287,865) $9,488,529 $9,791,537 $11,068,936
Sewer UtilityWater UtilityTransit Utility
CASH AND INVESTMENTS - ENDING
CHANGE IN CASH AND INVESTMENTS
Stormwater
Utility
CASH AND INVESTMENTS - BEGINNING
CITY OF OSHKOSH, WISCONSIN
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2023
With Summarized Information from December 31, 2022
See Accompanying Notes
17
$ 3,963,748 53,225,435 49,744,557 19,560,290
(2,337,573) (14,811,998) (11,096,861) (14,627,409) (12,630,146)
(984,958) (11,711,083) (12,303,628) (3,507,248) (47,743)
641,217 26,702,354 26,344,068 1,425,633
-750,274 787,235 -
- 6,025,477 5,782,647 -
- (3,215) - -
- 5,229,936 5,027,282 -
(388,106) (34,044,047) (23,233,277) -
500 55,801 18,523 -
- 9,485 494,942 -
(229,069) (16,589,473) (15,824,041) -
- 12,585,000 30,990,000 -
- 924,049 1,303,844 -
(55,123) (8,419,941) (7,933,033) -
(671,798) (45,479,126) (14,183,042) -
85,354 4,491,304 (380,123) -
2,671,569 102,670,614 111,726,146 5,736,256
$ 2,671,569 44,384,906 90,818,666 5,736,256
- 58,285,708 20,907,480 -
2,671,569 102,670,614 111,726,146 5,736,256
$ 410,605
320,462
-
(36,859)
(30,738)
1,433
-
(111,452)
-
210
-
6,950
311,507
(15,768)
(382,972)
166,885
(52,462)
30,246
23,170
Totals
Funds 2023 2022
Nonmajor
Governmental Activities - Internal
Service Funds
2023 2022
See Accompanying Notes
18
ASSETS
Cash and Investments $ 23,868,022 $ 25,641,361
Taxes Receivable 65,238,108 46,219,074
Total Assets 89,106,130 71,860,435
LIABILITIES
Due to Other Taxing Entities 89,075,446 71,846,508
Accounts Payable 30,684 13,927
Total Liabilities 89,106,130 71,860,435
NET POSITION
CITY OF OSHKOSH, WISCONSIN
2023 2022
As of December 31, 2023
Fiduciary Fund
Statement of Fiduciary Net Position
With Summarized Information from December 31, 2022
Custodial Funds
See Accompanying Notes
19
ADDITIONS
Taxes Collected on Behalf of Other Taxing Entities $ 49,909,205 $ 49,411,485
DEDUCTIONS
Taxes Remitted to Other Taxing Entities 49,909,205 49,411,485
CHANGE IN NET POSITION - -
NET POSITION - BEGINNING - -
NET POSITION - ENDING
Statement of Changes in Fiduciary Net Position
CITY OF OSHKOSH, WISCONSIN
2023 2022
With Summarized Information from December 31, 2022
For the Year Ended December 31, 2023
Fiduciary Fund
Custodial Funds
See Accompanying Notes
20
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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, 2023
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, 2023
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.
Equipment Fund
This fund accounts for equipment purchases of the City by improving and maintaining infrastructure.
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, 2023
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 and field operations.
Fiduciary Funds
The City follows the presentation requirements of accounting principles generally accepted in the United States
of America as prescribed by the Governmental 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, 2023
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
$1,967,841.
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, 2023
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. 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.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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)
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 leases are
reported in the statement of net position.
Pensions
The fiduciary net position of the Wisconsin Retirement System (WRS) has been determined using the flow of economic
resources measurement focus and accrual basis of accounting. This includes for purposes of measuring the following:
Net Pension Liability (Asset)
Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions
Pension Expense
Information about the fiduciary net position of the WRS and additions to/deductions from WRS’ fiduciary net position
have been determined on the same basis as they are reported by the WRS. For this purpose, benefit payments
(including refunds of employee contributions) are recognized when due and payable in accordance with the benefit
terms. Investments are reported at fair value.
Other Post-Employment Benefits – Local Retiree Life Insurance Plan (OPEB)
The fiduciary net position of the Local Retiree Life Insurance Fund (LRLIF) has been determined using the flow of
economic resources measurement focus and the accrual basis of accounting. This includes for purposes of measuring
following:
Net OPEB Liability
Deferred Outflows of Resources and Deferred Inflows of Resources Related to Other Post-Employment
Benefits
OPEB Expense (Revenue)
Information about the fiduciary net position of the LRLIF and additions to/deductions from LRLIF's fiduciary net position
have been determined on the same basis as they are reported by LRLIF. For this purpose, benefit payments (including
refunds of member contributions) are recognized when due and payable in accordance with the benefit terms.
Investments are reported at fair value.
Other Post-Employment Benefits – Single-Employer Plan (OPEB)
For purposes of measuring the total OPEB liability, deferred outflows of resources and deferred inflows of resources
related to OPEB, and OPEB expense, information about the City’s Other Post-Employment Benefit Plan have been
determined on the same basis as they are reported by the Plan. For this purpose, the Plan recognizes benefit payments
when due and payable in accordance with benefit terms. The Plan has no assets accumulated to pay this liability.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
28
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
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.
Lease Receivables
The government as a lessor recognizes lease receivables and deferred inflows of resources at the commencement
of the lease term, with certain exceptions for leases of assets held as investments, certain regulated leases; unless
the lease is short term, or ownership is transferred of the underlying asset. As the lessor, the government continues
to recognize assets underlying leases to others. The lease receivables are measured at the present value of lease
payments expected to be received during the lease term. The deferred inflow of resources should be measured at
the value of the lease receivable plus any payments received at or before the commencement of the lease term that
relate to future periods.
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.
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.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
29
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Government-Wide Statements (Continued)
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.
The minimum fund balance amount is calculated as follows:
Budgeted 2024 General Fund Revenues 56,630,357$
Minimum Fund Balance %x 16%
Minimum Fund Balance Amount 9,060,857$
The City’s unassigned fund balance of $17,822,646 is above the minimum fund balance amount.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
30
Note 1 - Summary of Significant Accounting Policies (Continued)
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, 2022, 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 follows GASB Statement No. 87 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 disclosed lease receivables in note 13 of the
footnotes.
Subscription-Based Information Technology Agreements
The City adopted GASB Statement No. 96 for the year ended December 31, 2023, which requires recognition in the
financial statements of certain subscription-based information technology agreements (SBITAS). A SBITA is any
contract conveying control of the right to use another party’s information technology software. This statement requires
the City to report a right-to-use subscription asset and corresponding subscription liability for any SBITAs. The City had
no material SBITAs that were required to be disclosed.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
31
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 $260,734,067 on December 31, 2023 are as follows:
Petty Cash and Cash on Hand $17,348
Deposits With Financial Institutions 200,002,938
Investments 60,713,781
Reconciliation to the Financial Statements
Government-Wide Statement of Net Position:
Cash and Investments $ 145,756,538
Restricted Cash 91,109,507
Fiduciary Funds Statement of Net Position:
Custodial Funds 23,868,022
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, 2023, the City’s deposits had a bank balance of $202,537,196. 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 $400,000 in each financial institution above the applicable insurance coverage provided by
the FDIC. However, although the fund had reserves available at December 31, 2023, the future availability of
resources to cover the losses cannot be projected because provisions of the 1985 Wisconsin Act 25 provided that
the amount in the fund will be used to repay public depositors for losses until the appropriation is exhausted, at
which time the fund will be abolished; therefore, the State Deposit Guarantee Fund is not considered in covered
amounts noted below.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
32
Note 2 - Cash and Investments (Continued)
The following represents a summary of deposits as of December 31, 2023:
Fully Insured Deposits 5,234,401$
Collateralized 189,891,681
Uninsured and Uncollateralized 7,411,114
Total 202,537,196$
The difference between the bank balance and carrying value is due to outstanding checks and/or deposits in transit at
December 31, 2023.
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, 2023, the City’s credit quality ratings are as follows:
U.S. Treasury Securities $ 1,793,170 $- $ 1,743,390 $- $- $- $ 49,780
Federal Home Loan Bank 5,977,234 - 5,977,234 - - - -
Federal Home Loan Mortgage 1,919,839 - 1,919,839 - - - -
Money market mutual funds 1,447,169 - 1,435,750 - - - 11,419
Municipal Bonds 3,762,942 - 268,823 558,016 1,379,030 - 1,557,073
Mutual funds 3,392,558 - - - - - 3,392,558
Negotiable Certificate of Deposts 7,181,124 - - - - 454,275 6,726,849
Oshkosh Community Foundation 7,674,959 - - - - - 7,674,959
Corporate stocks / bonds 675,092 - - - - - 675,092
WI Local Government Investment Pool 26,889,694 - - - - - 26,889,694
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
Total
Investments
Federal Home Loan Bank Federal Agency Security 5,977,234$ 9.84%
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, 2023
33
Note 2 - Cash and Investments (Continued)
As of December 31, 2023, the City’s investments were as follows:
Investment Type
U.S. Treasury Securities $ 1,793,170 $ 1,488,542 $ - $ 304,628 $ -
Federal Home Loan Bank 5,977,234 49,973 1,469,327 4,357,692 100,242
Federal Home Loan Mortgage 1,919,839 - 598,695 1,321,144 -
Money market mutual funds 1,447,169 1,447,169 - - -
Municipal Bonds 3,762,942 2,484,589 148,514 1,094,330 35,509
Mutual funds 3,392,558 3,392,558 - - -
Negotiable Certificate of Deposts 7,181,124 3,918,152 1,590,764 1,672,208 -
Oshkosh Community Foundation 7,674,959 7,674,959 - - -
Corporate stocks / bonds 675,092 675,092 - - -
WI Local Government Investment Pool 26,889,694 26,889,694 - - -
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 Home Loan Bank 5,977,234$
Federal Home Loan Mortgage 1,919,839
7,897,073$
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, 2023
34
Note 2 - Cash and Investments (Continued)
U.S. Treasury Securities $ 1,793,170 $- $-
Federal Home Loan Bank - 5,977,234 -
Federal Home Loan Mortgage - 1,919,839 -
Money market mutual funds 1,447,169 - -
Municipal Bonds - 3,762,942 -
Mutual funds 3,392,558 - -
Negotiable Certificate of Deposts - 7,181,124 -
Oshkosh Community Foundation - - 7,674,959
Corporate stocks / bonds - 675,092 -
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, 2023 was $26,889,694.
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.
Note 3 - Restricted Assets
Restricted assets on December 31, 2023 totaled $91,109,507 and consisted of cash and investments held for the
following purposes:
Governmental Activities:
Unspent Bond Proceeds 32,823,799$
Enterprise Funds:
Water Utility
Plant Replacement 1,210,228
Bond Reserve - To make up for potential future deficiencies in net revenues 5,070,043
Depreciation Fund - To replace certain assets for water distribution 157,791
Unspent Bond Proceeds 8,083,294
Total 14,521,356
Sewer Utility
Bond Reserve - To make up for potential future deficiencies in net revenues 6,879,287
DNR Infrastructure Plant Replacement 989,495
Unspent Bond Proceeds 16,531,038
Total 24,399,820
Stormwater Utility
Bond Reserve - To make up for potential future deficiencies in net revenues 7,975,236
Unspent Bond Proceeds 11,389,296
Total 19,364,532
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
35
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.
Note 5 - Capital Assets
Capital asset activity for the year ended December 31, 2023 was as follows:
Governmental Activities
Capital Assets not Being Depreciated
Land $ 23,438,662 $ 801,751 $- 24,240,413
Construction in Progress 6,619,772 997,952 6,559,137 1,058,587
Total Capital Assets Not
Being Depreciated 30,058,434 1,799,703 6,559,137 25,299,000
Capital Assets Being Depreciated
Buildings and Improvements 73,166,414 13,562,884 - 86,729,298
Machinery and Equipment 73,638,076 5,416,318 2,580,588 76,473,806
Infrastructure 130,134,995 14,315,122 3,009,383 141,440,734
Total Capital Assets Being
Depreciated 276,939,485 33,294,324 5,589,971 304,643,838
Accumulated Depreciation
Buildings and Improvements (25,878,536) (2,132,877) - (28,011,413)
Machinery and Equipment (42,636,887) (4,274,796) (2,580,588) (44,331,095)
Infrastructure (52,045,311) (8,624,206) (3,009,383) (57,660,134)
Total Accumulated Depreciation (120,560,734) (15,031,879) (5,589,971) (130,002,642)
Total Capital Assets Being
Depreciated, Net of Depreciation 156,378,751 18,262,445 - 174,641,196
Governmental Activities Capital
Assets, Net of Accumulated
Depreciation $186,437,185 20,062,148 6,559,137 199,940,196
Beginning Increases Decreases Ending
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
36
Note 5 - Capital Assets (Continued)
Business-Type Activities
Capital Assets not Being Depreciated
Land 14,235,768 990,365 - 15,226,133
Construction in Progress 5,233,033 15,954,095 2,068,645 19,118,483
Total Capital Assets Not Being 19,468,801 16,944,460 2,068,645 34,344,616
Depreciated
Capital Assets Being Depreciated
Buildings and Improvements 26,673,451 805,260 227,784 27,250,927
Machinery and Equipment 111,860,157 896,888 - 112,757,045
Infrastructure 407,037,159 17,466,084 1,552,696 422,950,547
Subtotal 545,570,767 19,168,232 1,780,480 562,958,519
Less Accumulated Depreciation (176,589,428) (11,790,303) (1,780,480) (186,599,251)
Total Capital Assets Being
Depreciated, Net of Depreciation 368,981,339 7,377,929 - 376,359,268
Business-Type Activities Capital
Assets, Net of Accumulated
Depreciation $388,450,140 24,322,389 2,068,645 410,703,884
Beginning Increases Decreases Ending
Depreciation expense was charged to functions of the City as follows:
Governmental Activities:
General Government 981,215
Public Safety 1,527,510
Public Works 8,852,941
Culture and Recreation 1,751,304
Conservation and Development 1,918,909
Total Depreciation Expense - Governmental Activities $ 15,031,879
Business-Type Activities:
Transit 973,217
Storm Water Utility 2,584,529
Water Utility Depreciation Charged to Accumulated Depreciation 4,037,466
Less: Share of Meter Depreciation (135,375)
Water Utility Depreciation Expense 3,902,091
Sewer Utility Depreciation Charged to Accumulated Depreciation 3,874,629
Plus: Share of Meter Depreciation 135,375
4,010,004
125,792
Sewer Utility Depreciation Expense
Parking Utility
Oshkosh Convention Center 194,670
Total Depreciation Expense - Business-Type Activities 11,790,303
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
37
Note 6 - Interfund Receivables, Payables and Transfers
Interfund transfers for the year ended December 31, 2023 were as follows:
Fund Transferred To Fund Transferred From Amount
General Fund Water Utility 1,542,600$
Debt Service General Fund 2,000,000
Equipment Debt Service 11,516,500
Street Improvements Debt Service 4,484,000
Library General Fund 220,000
Museum Permanent Funds 127,500
Cemetery Permanent Funds 58,600
Police Special Permanent Funds 16,000
Park Revenue Facilities General Fund 250,000
Leach Amphitheater Permanent Funds 20,000
Healthy Neighborhood Initiative Community Development Block Grant 4,859
Street Tree Memorial General Fund 250,000
TIF No. 25 General Fund 2,300,000
22,790,059$
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 168,334$ Year End Cash Flow Timing
Recycling Public Works Special 41,284 Year End Cash Flow Timing
Street Improvements Sidewalk Construction 3,348,127 Year End Cash Flow Timing
Street Improvements Park Improvement 921,943 Year End Cash Flow Timing
Street Improvements Grand Opera House 115,317 Year End Cash Flow Timing
TIF No. 15 TIF No. 13 473,546 Year End Cash Flow Timing
TIF No. 20 TIF No. 26 2,133,114 Year End Cash Flow Timing
TIF No. 25 TIF No. 26 1,469,810 Year End Cash Flow Timing
TIF No. 25 TIF No. 27 783,811 Year End Cash Flow Timing
TIF No. 35 TIF No. 40 5,552 Year End Cash Flow Timing
TIF No. 35 TIF No. 41 7,672 Year End Cash Flow Timing
TIF No. 35 TIF No. 42 2,838 Year End Cash Flow Timing
TIF No. 35 TIF No. 43 62,215 Year End Cash Flow Timing
Health Insurance Field Operations 1,668,399 Year End Cash Flow Timing
Library Permanent Funds 115,731 Year End Cash Flow Timing
Museum Permanent Funds 90,000 Year End Cash Flow Timing
16,396,169$
Business-type Activities:
Inspection Services Industrial Park Land 1,341,845$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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, 2023:
Governmental Activities
General Obligation Debt
Bonds and Notes $ 126,246,109 $ 6,325,000 $ 13,652,562 $ 118,918,547 $ 13,084,313
Notes From Direct Borrowing 1,064,531 - 642,340 422,191 249,082
Total General Obligation Debt 127,310,640 6,325,000 14,294,902 119,340,738 13,333,395
Debt Premium 6,002,808 453,969 643,120 5,813,657 -
Compensated Absences 4,137,423 67,585 701,677 3,503,331 385,366
Subtotal 10,140,231 521,554 1,344,797 9,316,988 385,366
Total Governmental Activity
Long-Term Liabilities $ 137,450,871 $ 6,846,554 $ 15,639,699 $ 128,657,726 $ 13,718,761
Business-Type Activities
General Obligation Debt
Transit Utility $ 790,000 $- $ 110,000 $ 680,000 $ 115,000
Water Utility 1,805,000 - 445,000 1,360,000 350,000
Sewer Utility 2,855,000 - 705,000 2,150,000 620,000
Stormwater Utility 2,435,000 - 475,000 1,960,000 380,000
Parking Utility 25,000 - - 25,000 -
Industrial Park 185,000 - 35,000 150,000 35,000
Notes From Direct Borrowing
Oshkosh Redevelopment 1,061,573 - 194,069 867,504 202,695
Total General Obligation Debt 9,156,573 - 1,964,069 7,192,504 1,702,695
Revenue Bonds
Water Utility 54,270,000 6,935,000 3,945,000 57,260,000 4,110,000
Sewer Utility 84,945,000 - 4,595,000 80,350,000 4,870,000
Stormwater Utility 85,865,000 5,650,000 5,180,000 86,335,000 5,590,000
Notes from Direct Borrowing
Water Utility 2,666,785 - 418,902 2,247,883 428,809
Sewer Utility 4,306,655 - 486,502 3,820,153 498,799
Total Revenue Bonds 232,053,440 12,585,000 14,625,404 230,013,036 15,497,608
Debt Premium
Water Utility 2,685,069 497,242 218,177 2,964,134 -
Sewer Utility 3,962,646 - 258,106 3,704,540 -
Stormwater Utility 3,306,771 426,807 270,466 3,463,112 -
Total Debt Premium 9,954,486 924,049 746,749 10,131,786 -
Compensated Absences 754,853 32,111 45,337 741,627 148,325
Total Business Activity
Long-Term Liabilities $ 251,919,352 $ 13,541,160 $ 17,381,559 $ 248,078,953 $ 17,348,628
Balances Issued Retired Balances One Year
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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 $ 85,000
2012A 06/28/12 12/01/13 - 27 06/01 - 12/01 0.40 - 3.00% 5,595,000 655,000
2016C 07/06/16 12/01/17 - 34 06/01 - 12/01 2.25 - 3.00% 9,850,000 7,370,000
2016H 10/06/16 12/01/17 - 30 06/01 - 12/01 3.00 - 4.00 % 6,890,000 3,885,000
2021F 11/28/21 12/01/22 - 31 06/01 - 12/01 2.00 - 5.00% 6,320,000 5,160,000
Coporate Purpose Bonds:
2013B 12/04/13 12/01/14 -33 06/01 - 12/01 2.00 - 4.00% 9,080,000 5,205,000
2014B 11/05/14 12/01/15 -33 06/01 - 12/01 2.00 - 3.00% 14,455,000 4,780,000
2015A 07/15/15 12/01/16 - 34 06/01 - 12/01 2.00 - 4.00% 18,750,000 7,890,000
2016A 06/14/16 12/01/17 - 35 06/01 - 12/01 2.00 - 4.00% 7,950,000 3,110,000
2017A 07/06/17 12/01/18 - 36 06/01 - 12/01 3.00 - 4.00% 5,440,000 3,535,000
2018A 06/28/18 12/01/18 - 37 06/01 - 12/01 3.00 - 3.50% 5,545,000 4,235,000
2019A 06/27/19 12/01/20 - 38 06/01 - 12/01 2.75 - 4.00% 5,380,000 3,960,000
2020A 07/01/20 06/01/21 - 40 06/01 - 12/01 2.00 - 3.00% 10,425,000 8,015,000
2021A 06/30/21 06/01/22 - 41 06/01 - 12/01 2.00 - 3.00% 8,660,000 7,615,000
2022A 07/07/22 06/01/23 - 42 06/01 - 12/01 4.25 - 5.00% 21,360,000 20,455,000
2023A 06/20/23 06/01/24 - 43 06/01 - 12/01 4.00 - 5.00% 6,325,000 6,325,000
Promissory Notes:
STFL 05 05/31/05 03/15/07 - 25 03/15 5.00%200,000 29,555
STFL 15 02/17/15 03/15/16 - 24 03/15 3.50% 1,250,000 159,142
2015B 07/15/15 12/01/16 - 24 06/01 - 12/01 2.00 - 3.00% 4,210,000 510,000
STFL 16 07/19/16 03/15/17 - 26 03/15 3.00%711,300 233,494
2016B 09/14/16 12/01/17 - 25 06/01 - 12/01 2.00 - 4.00% 4,700,000 1,110,000
2017B 07/06/17 12/01/18 - 26 06/01 - 12/01 2.00 - 4.00% 5,830,000 867,504
STFL CONV CENTER 08/21/17 03/15/18 - 27 03/15 4.50% 1,500,000 2,065,000
2018B 06/28/18 12/01/19 - 27 06/01 - 12/01 3.00 - 4.00% 5,895,000 2,760,000
2018SBA 11/01/18 11/01/18 - 32 11/01 4.00%140,000 98,547
2019B 06/27/19 12/01/19 - 28 06/01 - 12/01 3.00 - 4.00% 15,820,000 8,835,000
2020B 07/01/20 06/01/21 - 30 06/01 - 12/01 2.00 - 3.00% 7,290,000 5,090,000
2021B 06/30/21 06/01/22 - 31 06/01 - 12/01 2.00 - 3.00% 5,500,000 4,055,000
2022B 07/07/22 06/01/23 - 32 06/01 - 12/01 3.00 - 5.00% 9,050,000 8,440,000
Total Outstanding General Obligation Debt $ 126,533,242
12/31/2023
Dates of Principal Interest Interest Original Balances
Issuance Payable Payable Rates Indebtedness
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
40
Note 7 - Long-Term Obligations (Continued)
The annual principal and interest maturities are as follows:
2024 $ 13,084,313 $ 4,010,010 $ 249,082 $ 14,091 $ 13,333,395 $ 4,024,101
2025 12,564,684 3,481,951 92,960 5,496 12,657,644 3,487,447
2026 11,345,072 3,117,032 80,149 2,404 11,425,221 3,119,436
2027 10,715,475 2,760,332 - - 10,715,475 2,760,332
2028 9,865,894 2,411,676 - - 9,865,894 2,411,676
2029 - 2033 35,953,109 7,727,355 - - 35,953,109 7,727,355
2034 - 2038 15,750,000 3,150,447 - - 15,750,000 3,150,447
2038 - 2043 9,640,000 780,956 - - 9,640,000 780,956
Governmental Activities
General Obligation Debt Notes From Direct Borrowings Totals
Principal Interest Principal Interest Principal Interest
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 68,504 231,430 10,410 991,426 78,914
2028 720,000 46,541 - - 720,000 46,541
2029 - 2033 800,000 86,034 - - 800,000 86,034
2034 185,000 2,775 - - 185,000 2,775
Business Type Activities
General Obligation Debt Notes From Direct Borrowings Totals
Principal Interest Principal Interest Principal Interest
2024 $ 14,570,000 $ 7,442,099 $ 927,608 $ 141,582 $ 15,497,608 $ 7,583,681
2025 14,930,000 6,696,294 733,713 121,147 15,663,713 6,817,441
2026 15,140,000 6,283,448 751,832 102,804 15,891,832 6,386,252
2027 14,890,000 5,742,106 770,399 84,007 15,660,399 5,826,113
2028 15,180,000 5,194,811 789,427 59,177 15,969,427 5,253,988
2029 - 2033 74,740,000 17,793,248 1,722,878 164,256 76,462,878 17,957,504
2034 - 2038 52,425,000 7,298,444 372,179 4,885 52,797,179 7,303,329
2039 - 2043 22,070,000 1,399,119 - - 22,070,000 1,399,119
Business Type Activities
Revenue Bonded Debt Notes From Direct Borrowing Totals
Principal Interest Principal Interest Principal Interest
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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 $ 2,247,883
Revenue Bond 2013E 2013 01/01/15 - 33 1/1 & 7/1 2.25 - 3.125% 3,785,000 1,570,000
Revenue Bond 2014E 2014 01/01/16 - 34 1/1 & 7/1 2.00 - 4.125% 3,795,000 1,620,000
Revenue Bond 2015E 2015 01/01/16 - 35 1/1 & 7/1 2.00 - 4.00% 6,660,000 4,540,000
Revenue Bond 2016F 2016 01/01/17 - 36 1/1 & 7/1 3.00 - 4.00% 6,835,000 4,795,000
Safe Drinking Revenue Bond 2016G 2016 01/01/17 - 37 1/1 & 7/1 2.00 - 3.00% 11,690,000 4,585,000
Revenue Bond 2017C 2017 01/01/18 - 38 1/1 & 7/1 2.00 - 4.00% 8,880,000 6,470,000
Revenue Bond 2019D 2019 01/01/20 - 39 1/1 & 7/1 3.00 - 5.00% 8,220,000 6,105,000
Revenue Bond 2020D 2020 01/01/21 - 40 1/1 & 7/1 2.00 - 4.00% 5,525,000 4,910,000
Revenue Bond 2021D 2021 01/01/22 - 41 1/1 & 7/1 2.00 - 3.00% 5,605,000 5,175,000
Refunding Revenue Bond 2021G 2021 01/01/23 - 32 1/1 & 7/1 3.00% 2,755,000 2,515,000
Revenue Bond 2022D 2022 01/01/23 - 42 1/1 & 7/1 3.25 - 5.00% 8,315,000 8,040,000
Revenue Bond 2023C 2023 01/01/24 - 43 1/1 & 7/1 4.00 - 5.00% 6,935,000 6,935,000
Sewer Utility
Clean Water Revenue Bond 4130-05 2004 05/01/05 - 24 5/1 & 11/1 2.396% 1,989,231 211,575
Revenue Bond 2012E 2012 05/01/13 - 32 5/1 & 11/1 2.25 - 3.00% 6,270,000 2,825,000
Revenue Bond 2013D 2013 01/01/14 - 33 5/1 & 11/1 2.00 - 4.125% 4,175,000 2,140,000
Clean Water Revenue Bond 4130-14 2014 05/01/15 - 34 5/1 & 11/1 2.625% 5,706,185 3,608,578
Revenue Bond 2014D 2014 05/01/15 - 34 5/1 & 11/1 2.00 - 4.00% 5,980,000 3,300,000
Revenue Bond 2015D 2015 05/01/16 - 35 5/1 & 11/1 2.00 - 4.00% 6,695,000 4,270,000
Revenue Bond 2016D 2016 05/01/17 - 36 5/1 & 11/1 2.00 - 3.00% 10,045,000 6,595,000
Revenue Bond 2017D 2017 05/01/18 - 37 5/1 & 11/1 3.00 - 5.00% 15,075,000 11,645,000
Revenue Bond 2019E 2019 05/01/20 - 39 5/1 & 11/1 2.00 - 4.00% 13,990,000 10,120,000
Revenue Bond 2020E 2020 05/01/21 - 40 5/1 & 11/1 2.00 - 4.00% 13,930,000 12,445,000
Revenue Bond 2021E 2021 05/01/22 - 41 5/1 & 11/1 2.00 - 4.00% 13,940,000 13,025,000
Revenue Bond 2022E 2022 05/01/23 - 42 5/1 & 11/1 3.25 - 5.00% 14,270,000 13,985,000
Stormwater Utility
Revenue Bond 2012D 2012 05/01/13 - 32 5/1 & 11/1 3.00 - 3.12% 6,810,000 3,540,000
Revenue Bond 2013A 2013 01/01/14 - 33 5/1 & 11/1 3.00 - 4.125% 15,220,000 8,980,000
Revenue Bond 2014A 2014 05/01/15 - 34 5/1 & 11/1 2.00 - 4.00% 8,300,000 5,285,000
Revenue Bond 2015C 2015 05/01/16 - 35 5/1 & 11/1 3.00 - 4.00% 13,115,000 7,910,000
Revenue Bond 2016E 2016 05/01/17 - 36 5/1 & 11/1 3.00 - 4.00% 5,175,000 3,665,000
Refunding Revenue Bond 2016I 2016 05/01/17 - 30 5/1 & 11/1 2.00 - 4.00% 15,295,000 8,905,000
Revenue Bond 2017E 2017 05/01/18 - 37 5/1 & 11/1 3.00 - 5.00% 9,720,000 7,685,000
Revenue Bond 2018C 2018 05/01/19 - 38 5/1 & 11/1 4.00 - 5.00% 10,060,000 8,420,000
Revenue Bond 2019C 2019 05/01/20 - 39 5/1 & 11/1 3.00 - 5.00% 8,060,000 7,050,000
Revenue Bond 2020C 2020 05/01/21 - 40 5/1 & 11/1 2.00 - 4.00% 4,770,000 4,285,000
Revenue Bond 2021C 2021 05/01/22 - 41 5/1 & 11/1 2.00 - 4.00% 7,160,000 6,695,000
Revenue Bond 2022C 2022 05/01/23 - 42 5/1 & 11/1 4.00 - 5.00% 8,405,000 8,265,000
Revenue Bond 2023B 2023 05/01/24 - 43 5/1 & 11/1 4.00 - 5.00% 5,650,000 5,650,000
Total Outstanding Revenue Bonds $ 230,013,036
12/31/2023Numbers Issue Payable Payables Rates Indebtedness
Issue Years of Principal Interest Interest Original Balances
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
42
Note 7 - Long-Term Obligations (Continued)
Interest paid on long-term debt during 2023 was $13,180,495.
The City’s outstanding notes from direct borrowings and direct placements of $7,357,731 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 2023 equalized valuation of the City as certified by the Wisconsin Department of Revenue is $5,812,158,000. The
legal debt limit and margin of indebtedness as of December 31, 2023, in accordance with Section 67.03 of the Wisconsin
Statutes follows:
Legal Margin For Debt
Equalized Valuation of the City $ 5,812,158,000
Statutory Limitation Percentage 5%
General Obligation Debt Limitation, per Section 67.03 of the Wisconsin Statutes 290,607,900
Total Outstanding General Obligation Debt Applicable
to Debt Limitation $ 126,533,242
Less: Amounts Available for Repayment of General
Obligation Debt - Debt Service Fund 1,187,495
Net Outstanding General Obligation Debt Applicable to Debt Service Fund 125,345,747
Legal Margin for New Debt $ 165,262,153
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 2043. The total principal remaining to be paid on the loans is $59,507,883. Principal and interest paid for the
current year and total water system net revenues were $5,626,380 and $10,967,127, respectively. The Water System
did meet the Safe Drinking Water Loans and Revenue Bonds revenue requirements in 2023.
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 $84,170,153. Principal and interest paid for the current
year and total Sewerage System net revenues were $7,447,775 and $12,139,378, respectively. The Sewer System did
meet the Clean Water Fund Loans and Revenue Bonds revenue requirements in 2023.
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 $86,335,000. Principal and interest paid for the current year and total Stormwater
System net revenues were $8,175,568 and $13,083,042, respectively. The Stormwater System did meet the Revenue
Bonds revenue requirements in 2023.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
43
Note 8 - Fund Equity
Fund Financial Statements
At December 31, 2023 the assigned and restricted fund balances are as follows:
Nonspendable
Inventory and Prepaid Items
General Fund 310,047$
Recycling 4,317
Garbage Collection and Disposal 5,244
Total Inventory and Prepaid Items 319,608
Permanent Funds 3,646,301
Total Nonspendable Fund Balance 3,965,909$
Restricted
Special Revenues
Senior Services 34,681$
Business Improvement District 115,324
Community Development 4,506,233
Community Development Loans 2,299,445
Police Special 298,049
Fire Special 408,608
Capital Projects
Tax Incremental District Development 12,464,418
Debt Service 1,551,959
21,678,717
Permanent Funds 9,866,830
Total Restricted Fund Balance 31,545,547$
Committed
Special Revenue and Capital Projects Funds:
Recycling Program 2,924,983$
Street Lighting 223,220
Library 228,655
Museum 1,416,290
Cemetery 324,220
Senior Services Revolving Loans 173,223
Park Revenue Facilities 686,863
Leach Amphitheater 96,802
Pollock Water Park 78,600
Healthy Neighborhoods 2,699,098
Rental Inspections 42,317
Total Committed Fund Balance 8,894,271$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
44
Note 8 - Fund Equity (Continued)
Assigned
Special Revenue and Capital Projects Funds:
Special Events 667,978
Special Assessment Improvement 16,056,206
Contract Control 2,993,447
Street Improvement 8,353,109
Street Tree Memorial 189,143
Equipment 15,691,525
Park Subdivision Improvement 411,039
Mct Rochlin Park Smokestack 2,000
Senior Center 125,237
Parking Ramp Improvements 546,308
Total Assigned Fund Balance 45,035,992$
Government-Wide Financial Statements
At December 31, 2023 net position was as follows:
Net Investment in Capital Assets
Net Capital Assets $ 199,940,196 $ 410,703,884 $ 610,644,080
Less: Related Long-Term Debt (119,340,738) (237,055,540) (356,396,278)
Less: Premium on Capital Debt (5,813,657) (10,131,786) (15,945,443)
Less: Capital Accounts Payable (7,893,142) - (7,893,142)
Add: Deferred Charge on Refunding - 74,180 74,180
Add: Unspent Bond Proceeds 32,823,799 36,003,628 68,827,427
Total Net Investment in Capital Assets 99,716,458 199,594,366 299,310,824
Restricted
Community Development Loans 2,299,445 - 2,299,445
Community Development 4,506,233 - 4,506,233
Business Improvement District 115,324 - 115,324
Permanent Funds 13,513,131 - 13,513,131
Police Special 298,049 - 298,049
Fire Special 408,608 - 408,608
Senior Services 34,681 - 34,681
Debt Service 1,187,495 19,924,566 21,112,061
Plant Replacement - 2,357,514 2,357,514
Pension Benefits 10,677,958 1,439,161 12,117,119
Total Restricted 33,040,924 23,721,241 56,762,165
Unrestricted 43,670,764 54,315,165 97,985,929
Total Government-Wide Activities Net Position $ 176,428,146 $ 277,630,772 $ 454,058,918
Governmental Business-Type
Activities Activities Total
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
45
Note 9 - Individual Fund Balance Disclosures
The following governmental funds have a deficit fund balance as of December 31, 2023:
Governmental Funds:
Public Works Special 41,332$
Garbage Collection and Disposal 45,795$
Sidewalk Construction 3,348,127$
Park Improvement and Acquisition 1,493,266$
Grand Opera House 130,850$
TIF No. 13 Marion Road/Pearl Avenue 587,190$
TIF No. 18 SW Industrial Park Expansion 126,138$
TIF No. 23 SW Industrial Park Expansion 2,696,042$
TIF No. 25 City Center Hotel 137,937$
TIF No. 26 Aviation Business Park 3,602,924$
TIF No. 27 North Main Street Industrial Park 907,293$
TIF No. 34 Oshkosh Corp Headquarters 52,821$
TIF No. 40 Miles Kimball Redevelopment 13,217$
TIF No. 41 Smith School Redevelopment 10,929$
TIF No. 42 Morgan Crossing 2,975$
TIF No. 43 Mill on Main 62,219$
Internal Service Fund:
Field Operations 1,480,725$
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 WRS is a cost-sharing multiple-employer defined benefit pension plan. WRS benefits and other
plan provisions are established by Chapter 40 of the Wisconsin Statutes. Benefit terms may only be modified by the
legislature. The retirement system is administered by the Wisconsin Department of Employee Trust Funds (ETF). The
system provides coverage to all eligible State of Wisconsin, local government, and other public employees. All
employees, initially employed by a participating WRS employer on or after July 1, 2011, expected to work at least 1,200
hours a year (880 hours for teachers and school district educational support employees) and expected to be employed
for at least one year from employee’s date of hire are eligible to participate in the WRS.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
46
Note 10 - Defined Benefit Pension Plan (Continued)
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
2013 (9.6)% 9.0%
2014 4.7 25.0
2015 2.9 2.0
2016 0.5 (5.0)
2017 2.0 4.0
2018 2.4 17.0
2019 0.0 (10.0)
2020 1.7 21.0
2021 5.1 13.0
2022 7.4 15.0
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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, Executives and Elected Officials. Starting on January 1, 2016,
the Executives and Elected Officials category was merged into the General Employee Category. Required contributions
for protective employees are the same rate as general employees. Employers are required to contribute the 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 $4,804,128 in contributions from the City.
Contribution rates as of December 31, 2023 are:
Employee Category Employee Employer
General (including teachers,
executives, and elected officials)
6.80% 6.80%
Protective with Social Security 6.80% 13.20%
Protective without Social Security 6.80% 18.10%
Pension Liabilities (Assets), Pension Expense (Revenue), and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions
At December 31, 2023, the City reported a liability of $18,773,078 for its proportionate share of the net pension
liability. The net pension liability was measured as of December 31, 2022 and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of December 31, 2021, rolled forward
to December 31, 2022. No material changes in assumptions or benefit terms occurred between the actuarial
valuation date and the measurement date. The City’s proportion of the net pension liability was based on the City’s
share of contributions to the pension plan relative to the contributions of all participating employers. At December
31, 2022, the City’s proportion was .35436255%, which was an increase of 0.00755308% from its proportion
measured as of December 31, 2021.
For the year ended December 31, 2023, the City recognized pension expense of $9,504,991.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
48
Note 10 - Defined Benefit Pension Plan (Continued)
At December 31, 2023, the City reported deferred outflows of resources and deferred inflows of resources related
to pension from the following sources:
Deferred
Outflows of
Resources
Inflows of
Resources
Differences between projected and
actual experiences 29,899,697$ 39,281,488$
Changes in assumptions 3,691,564 -
actual earnings on pension plan
investments 31,891,124 -
Changes in proportion and differences
between employer contributions and
proportionate share of contributions 19,158 133,986
the measurement date 4,804,128 -
The $4,804,128 reported as deferred outflows related to pension resulting from the WRS Employer’s contributions
subsequent to the measurement date will be recognized as an adjustment of the net pension liability (asset) in the
year ending December 31, 2024. Other amounts reported as deferred outflows of resources and deferred inflows
of resources related to pension will be recognized in pension expense as follows:
Year Ending
December 31,
Net Deferred
Outflows
(Inflows) of
Resources
2024 1,057,853$
2025 5,393,669
2026 5,526,049
2027 14,108,498
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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, 2021
Measurement Date of Net Pension Liability (Asset): December 31, 2022
Experience Study: January 1, 2018 – December 31, 2020
Published November 19, 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 postretirement 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. The total pension liability for December 31, 2022 is based upon a roll-forward
of the liability calculated from the December 31, 2021 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 48% 7.6% 5.0%
Fixed Income 25 5.3 2.7
Inflation Sensitive Assets 19 3.6 1.1
Real Estate 8 5.2 2.6
Private Equity/Debt 15 9.6 6.9
Total Core Fund3 115% * 7.4% 4.8%
Variable Fund Asset Class
U.S. Equities 70% 7.2% 4.6%
International Equities 30 8.1 5.5
Total Variable Fund 100% 7.7% 5.1%
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, 2023
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 for the current
and prior year. The discount rate is based on the expected rate of return on pension plan investments of 6.8% and a
municipal bond rate of 4.05% (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, 2022. 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)62,307,234$ 18,773,078$ (11,174,687)$
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,
2023, is $628,855 for December payroll.
Note 11 - Post-Employment Benefits Other Than Pension Benefits
The City reports OPEB related balances at December 31, 2023 as summarized below:
Local Retiree Life Insurance Fund (LRIF) $ 2,886,077 $ 1,257,428 $ 2,004,594
Single-Employer Defined OPEB Plan 7,450,873 4,868,660 4,553,883
OPEB Deferred Outflows Deferred Inflows
Liability of Resources of Resources
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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, 2023 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, 2022 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 benefit.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
52
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
During the reporting period, the Plan recognized $16,295 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, 2023, the City reported a liability of $2,886,077 for its proportionate share of the net OPEB liability.
The net OPEB liability was measured as of December 31, 2022, and the total OPEB liability used to calculate the
net OPEB liability was determined by an actuarial valuation as of January 1, 2022 rolled forward to December 31,
2022. 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, 2022, the City’s
proportion was 0.75753500%, which was an increase of 0.01118900% from its proportion measured as of
December 31, 2021.
For the year ended December 31, 2023, the City recognized OPEB expense of $314,772.
At December 31, 2023, the City reported deferred outflows of resources and deferred inflows of resources related
to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences -$ 282,450$
Changes in assumptions 1,036,906 1,703,577
and actual earnings on plan
investments 54,156 -
Changes in proportion and
differences between employer
of contributions 150,071 18,567
Employer contributions subsequent
to the measurement date 16,295 -
The $16,295 reported as deferred outflows related to OPEB resulting from the WRS Employer’s contributions
subsequent to the measurement date will be recognized as an adjustment of the net OPEB liability in the year
ending December 31, 2024.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
53
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will
be recognized in OPEB expense as follows:
Year Ending
December 31,
Outflows
(Inflows) of
Resources
2024 (32,889)$
2025 (55,492)
2026 (10,025)
2027 (143,938)
2028 (267,439)
Thereafter (253,678)
Actuarial Assumptions. The total OPEB liability in the January 1, 2022, actuarial valuation was determined using the
following actuarial assumptions, applied to all periods included in the measurement:
Actuarial Valuation Date: January 1, 2022
Measurement Date of Net OPEB Liability: December 31, 2022
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*: 3.72%
Long-Term Expected Rate of Return: 4.25%
Discount Rate: 3.76%
Salary Increases:
Wage Inflation
Seniority/Merit
3.00%
0.1% - 5.6%
Mortality: 2020 WRS Experience Mortality Table
*Based on the Bond Buyers GO index.
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. The total OPEB liability for December 31, 2022 is based upon a roll-forward
of the liability calculated from the January 1, 2022 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, 2023
54
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Local OPEB Life Insurance
Asset Allocation Targets and Expected Returns
Asset Class
Index
Target
Allocation
Long-Term
Expected
Geometric
Real Rate of
Return %
U.S. Intermediate Credit Bonds Bloomberg U.S. Interm
Credit
50% 2.45%
U.S. Mortgages Blookberg U.S. MBS 50 2.83
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 remained unchanged from the prior year at 2.30%.
Single Discount Rate. A single discount rate of 3.76% was used to measure the total OPEB liability for the current
year, as opposed to a discount rate of 2.17% for the prior year. The significant change in the discount rate was primarily
caused by the increase in the municipal bond rate from 2.06% as of December 31, 2021 to 3.72% as of December 31,
2022. 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 3.76
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 (2.76 percent) or 1-percentage-point higher (4.76 percent) than the current
rate:
1% Decrease to
Discount Rate
(2.76%)
Current Discount
Rate (3.76%)
1% Increase to
Discount Rate
(4.76%)
City's proportionate share of the
net OPEB liability 3,934,861$ 2,886,077$ 2,082,307$
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, 2023.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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-insured 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, 2022 and was determined by
an actuarial valuation as of December 31, 2022.
Actuarial Assumptions. The total OPEB liability in the December 31, 2022, 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:3.72%
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, 2022 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 3.72%, 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, 2023
56
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Changes in the Total OPEB Liability:
Total OPEB
Liability
$ 7,882,129
Changes for the Year:
Service Cost 690,186
Interest 174,365
Experiences -
Changes of Assumptions or Other Input (1,078,683)
Benefit Payments (217,124)
Net Changes (431,256)
Balance at 12/31/2022
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 (2.72%) or 1-percentage-point higher (4.72%) than the current rate:
1% Decrease
(2.72%)Rate (3.72%)(4.72%)
$$$Total OPEB Liability 8,085,040 7,450,873 6,864,208
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates. The following presents
the total OPEB liability of City, as well as what City’s total OPEB liability would be if it were calculated using healthcare
cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend
rates:
1% Decrease to
(5.2% Decreasing
to 2.7%)
Healthcare Cost
Trend Rates
(6.2% Decreasing
to 3.7%)
Decreasing to
4.7%)
$$$Total OPEB Liability 6,619,606 7,450,873 8,429,508
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
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, 2023, City recognized OPEB expense of $917,088. At December 31, 2023,
City reported deferred outflows and inflows of resources related to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences 772,834$ 2,599,639$
Changes in assumptions 4,095,826 1,954,244
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,
Outflows
(Inflows) of
Resources
2024 52,537$
2025 52,537
2026 52,537
2027 42,446
2028 58,166
Thereafter 56,554
Payable to the OPEB Plan. At December 31, 2023, 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, 2023
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.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, 2023, the City abated property taxes of $2,993,226 under this program which
include the following tax abatement agreements:
A property tax abatement of $322,702 to a developer within Tax Incremental District No. 14.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
59
Note 12 - Tax Incremental Financing Districts (Continued)
A property tax abatement of $68,892 to a developer within Tax Incremental District No. 21.
A property tax abatement of $242,458 to a developer within Tax Incremental District No. 24.
A property tax abatement of $42,915 to a developer within Tax Incremental District No. 28.
A property tax abatement of $40,885 to a developer within Tax Incremental District No. 30.
A property tax abatement of $500,271 to a developer within Tax Incremental District No. 31.
A property tax abatement of $13,266 to a developer within Tax Incremental District No. 32.
A property tax abatement of $233,277 to a developer within Tax Incremental District No. 33.
A property tax abatement of $1,132,420 to two developers within Tax Incremental District No. 34.
A property tax abatement of $184,439 to a developer within Tax Incremental District No. 36.
A property tax abatement of $211,287 to three developers within Tax Incremental District No. 37.
A property tax abatement of $414 to a developer within Tax Incremental District No. 40.
Note 13 - Leases
Lessor
The City has three leases recorded in the water utility on the statement of net position proprietary funds and statement
of net position.
The water utility leases tower space on Marion Road for the purpose of transmission and reception of communication
signals. This lease has an initial lease term of five years with two additional five-year terms. The initial annual payment
was $27,600 and increases $4,800 each term. Additionally, for each of the first nine years of the lease there is a
additional $6,000 required payment. The water utility leases tower space Washburn Street for the purpose of
transmission and reception of communication signals. This lease has an initial lease term of five years with two
additional five-year terms. The initial monthly payment was $1,900 and increases by $400 per month at the beginning
of the following term. Lastly, the water utility leases tower space on County Road N for the purpose of transmission and
reception of communication signals. This lease has an initial lease term of five years with two additional five-year terms.
The monthly payments were $1,900 and increases by $400 per month at the beginning of the following term. For the
year end December 31, 2023, the water utility recognized $89,558 in lease revenue and $13,642 in interest revenue
related to these agreements. At December 31, 2023, the utility recorded $510,352 in lease receivables at net present
value and deferred inflows of resources for these arrangements.
Beginning Ending
Water Utility Balance Additions Reductions Balance
Water Tower - Marion Road 323,020$ -$ 30,456$ 292,564$
Water Tower - Washburn Street 138,445 - 29,551 108,894
Water Tower - County Road N 138,445 - 29,551 108,894
599,910$ -$ 89,558$ 510,352$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
60
Note 13 - Leases (Continued)
Remaining amounts to be received associated with these leases at December 31, 2023 are as follows:
Year Ending
December 31,
2024 91,711$
2025 93,917
2026 95,175
2027 60,638
2028 33,249
2029 - 2032 135,662
Total 510,352$
Note 14 - 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 15 - Health and Dental Self-Insurance Fund
The City maintains a self-insured medical care coverage plan and maintains a self-insured dental plan for its employees
since 2022. The City has established the Health Insurance Fund (an internal service fund) to account for the financing
of its uninsured risk of loss.
The Employee Benefits Fund has an established reserve of $4,566,959 at December 31, 2023 and is reported as the
net position of the Internal Service Fund. This reserve will be used to finance claims in 2024 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.
The claims liability of $1,786,157 , reported in the fund at December 31, 2023, 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
2023 2,498,625 7,550,360 8,307,716 1,741,269
Beginning-of-
Fiscal Year
Liaibility
Current-Year
Claims and
Changes in
Estimates
Claim
Payments
Balance at
Fiscal Year-
End
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2023
61
Note 15 - Health and Dental Self-Insurance Fund
Changes in the fund’s Dental claims liability amount are as follows:
2022 $- $ 472,053 $ 436,379 $ 35,674
2023 35,674 433,212 423,998 44,888
Beginning-of-
Fiscal Year
Liaibility
Claims and
Changes in
Estimates
Claim
Payments
Balance at
Fiscal Year-
End
Note 16 - 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, 2023, are not likely to have a material adverse impact on the City’s financial position.
Note 17 - Basis For Utility Existing Rates
Water
Current water rates were approved by the PSCW subsequent to December 31, 2023 with an effective date of January
19, 2024.
Sewer
Current sewer rates were approved by the Utility commission with an effective date of January 1, 2024.
Note 18 - Restatement of Beginning Fund Balance and Net Position
During the year the City restated beginning fund balance in the permanent fund and net position in the governmental
activities due to additional investments accounts that the City maintains custody of. The following presents the impact
of these restatements of beginning fund balance and net position:
Beginning Fund Balance/ Net Position - January 1, 2022 $ 149,546,145 $ 12,200,095
Restatement of Investments 514,099 514,099
Beginning Net Position/ Net Position - January 1, 2022 $ 150,060,244 $ 12,714,194
Governmental
Activities Permanent Fund
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
12/31/2022 0.35436255% 18,773,078$ 42,455,750$ 44.22%95.72%
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
12/31/2023 4,804,128$ 4,804,128$ -$ 44,366,218$ 10.83%
12/31/2022 4,265,639 4,265,639 10.05%
12/31/2021 4,083,340 4,083,340 10.03%
12/31/2020 3,794,808 3,794,808 9.64%
12/31/2019 3,553,329 3,553,329 9.39%
12/31/2018 3,515,255 3,515,255 9.50%
12/31/2017 3,446,908 3,446,908 9.51%
12/31/2016 3,073,752 3,073,752 8.75%
12/31/2015 3,014,493 3,014,493
42,455,750
40,712,360
39,367,936
37,849,360
37,018,001
36,243,909
35,129,816
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
62
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
12/31/2022 0.75753500% $ 2,886,077 40,035,000$ 7.21%38.81%
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
12/31/2023 16,295$ 16,295$ -$ 46,109,000$ 0.04%
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
63
Total OPEB Liability
Service Cost $ 690,186 $ 417,357 $ 363,894 $ 306,053 $ 334,296 $ 301,541
Interest 174,365 132,679 153,353 217,806 180,345 179,462
Effect of economic/demographic gains or losses - (3,293,801) - 1,344,242 - -
Changes of Assumptions or Other Input (1,078,683) 4,887,014 276,841 (1,487,994) (288,188) 140,539
Benefit Payments (217,124) (203,346) (168,477) (138,207) (119,000) (199,000)
Net Change in Total OPEB Liability (431,256) 1,939,903 625,611 241,900 107,453 422,542
Total OPEB Liability - Beginning 7,882,129 5,942,226 5,316,615 5,074,715 4,967,262 4,544,720
Total OPEB Liability - Ending
Covered-Employee Payroll $ 39,150,924 $ 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 19.03%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 201820222023
See Accompanying Notes to Required Supplementary Information
64
REVENUES
Taxes $ 23,817,500 $ 23,817,500 $ 24,082,567 $ 265,067
Intergovernmental 16,842,500 16,842,500 16,881,012 38,512
Licenses and Permits 822,000 822,000 809,190 (12,810)
Fines, Forfeitures and Penalties 864,300 864,300 580,432 (283,868)
Public Charges for Services 4,310,900 4,310,900 4,278,381 (32,519)
Intergovernmental Charges for Services 2,814,900 2,814,900 3,377,008 562,108
Miscellaneous 963,000 963,000 2,785,906 1,822,906
Total Revenues 50,435,100 50,435,100 52,794,496 2,359,396
EXPENDITURES
Current:
General Government 7,176,900 7,362,644 7,496,255 (133,611)
Public Safety 32,091,800 32,277,889 33,102,653 (824,764)
Public Works 4,761,300 4,870,767 4,661,367 209,400
Transportation 880,600 910,600 940,189 (29,589)
Culture and Recreation 2,588,100 2,699,865 2,675,719 24,146
Conservation and Development 2,153,800 2,243,326 1,950,989 292,337
Unclassified 2,374,900 2,374,900 571,916 1,802,984
Total Expenditures 52,027,400 52,739,990 51,399,088 1,340,902
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (1,592,300) (2,304,890) 1,395,408 3,700,298
OTHER FINANCING SOURCES (USE)
Sale of Capital Assets 25,000 25,000 127,039 102,039
Transfers In 1,822,600 1,822,600 1,542,600 (280,000)
Transfers Out (2,780,000) (2,780,000) (5,020,000) (2,240,000)
Total Other Financing Sources (Use)(932,400) (932,400) (3,350,361) (2,417,961)
NET CHANGE IN FUND BALANCE (2,524,700) (3,237,290) (1,954,953) 1,282,337
FUND BALANCE - BEGINNING 20,087,646 20,087,646 20,087,646 -
FUND BALANCE - ENDING $ 17,562,946 $ 16,850,356 $ 18,132,693 $ 1,282,337
Budget to Actual
Schedule of Budgetary Comparison
CITY OF OSHKOSH, WISCONSIN
(Negative)
Variance with
Positive
Final Budget
For the Year Ended December 31, 2023
General Fund
Amounts
Actual
Original Final
Budgeted Amounts
See Accompanying Notes to Required Supplementary Information
65
66
CITY OF OSHKOSH, WISCONSIN
Notes to Required Supplementary Information
For the Year Ended December 31, 2023
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 2.06% to 3.72%.
67
CITY OF OSHKOSH, WISCONSIN
Notes to Required Supplementary Information
For the Year Ended December 31, 2023
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, 2023:
Excess
General Fund Expenditures
General Government $ 133,611
Public Safety 824,764
Transportation 29,589
SUPPLEMENTARY INFORMATION
2023
ASSETS
Cash and Investments $ 29,317,632 $ 23,392,378 $ 13,720,932 $ 66,430,942 $ 76,816,804
Receivables:
Accounts Receivable 745,828 18,728 - 764,556 884,475
Taxes 5,110,745 5,254,794 - 10,365,539 9,139,868
Interest - 1,035 - 1,035 43,652
Loans 5,364,699 605,000 - 5,969,699 6,047,607
Inventory and Prepaid Items 9,561 - - 9,561 -
Deposits with GO HNI - - - - 213,769
Due from Other Funds 415,349 12,012,421 - 12,427,770 2,150,234
Total Assets $ 40,963,814 $ 41,284,356 $ 13,720,932 $ 95,969,102 $ 95,296,409
LIABILITIES
Accounts Payable $ 999,080 $ 6,942,361 $ 2,070 $ 7,943,511 $ 4,396,016
Due to Other Funds 209,618 14,312,421 205,731 14,727,770 12,789,527
Deposits from Others - 351,174 - 351,174 360,535
Unearned Revenue:
Grant 8,000 - - 8,000 -
American Rescue Plan Act Funds 15,064,937 - - 15,064,937 17,312,024
Total Liabilities 16,281,635 21,605,956 207,801 38,095,392 34,858,102
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 7,540,400 7,765,627 - 15,306,027 14,264,327
FUND BALANCES
Nonspendable 9,561 - 3,646,301 3,655,862 3,646,101
Restricted 7,662,340 12,464,418 9,866,830 29,993,588 28,180,581
Committed 8,894,271 - - 8,894,271 8,651,100
Assigned 667,978 12,620,283 - 13,288,261 17,710,448
Unassigned (Deficits)(92,371) (13,171,928) - (13,264,299) (12,014,250)
Total Fund Balances 17,141,779 11,912,773 13,513,131 42,567,683 46,173,980
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $ 40,963,814 $ 41,284,356 $ 13,720,932 $ 95,969,102 $ 95,296,409
Special
Revenue
Capital
Projects
Totals
Permanent 2022
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
December 31, 2023
With Summarized Information From December 31, 2022
68
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
ASSETS
Cash and Investments $ 162,222 145,611 2,716,483 647,771 1,073,607 1,657,972 430,379 - 228,898 763,533 180,272 308,282
Receivables:
Accounts Receivable 4,960 5,441 1,023 - 185 2,678 93 689,107 - - 996 719
Taxes 265,933 - 636 717,477 1,946,452 696,365 222,287 - - - - -
Interest Receivable - - - - - - - - - - - -
Loans - - - - - - - 4,057,685 50,000 1,257,014 - -
Inventory and Prepaid Items - - 4,317 - - - - - - - - -
Deposits with GO HNI - - - - - - - - - - - -
Due from Other Funds - - 209,618 - 115,731 90,000 - - - - - -
Total Assets $ 433,115 $ 151,052 $ 2,932,077 $ 1,365,248 $ 3,135,975 $ 2,447,015 652,759 $ 4,746,792 278,898 2,020,547 181,268 $ 309,001
LIABILITIES
Accounts Payable 5,434 35,728 2,777 81,728 30,820 1,625 39 234,796 - - 45 10,952
Due to Other Funds - - - - - - - 168,334 - - - -
Deposits from Others - - - - - - - - - - - -
Unearned Revenues
Grant - - - - - - - - - - 8,000 -
American Rescue Plan Act Funds - - - - - - - - - - - -
Total Liabilities 5,434 35,728 2,777 81,728 30,820 1,625 39 403,130 - - 8,045 10,952
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 393,000 - - 1,060,300 2,876,500 1,029,100 328,500 - - - - -
FUND BALANCES (DEFICITS)
Nonspendable - - 4,317 - - - - - - - - -
Restricted 34,681 115,324 - - - - - 4,343,662 278,898 2,020,547 - 298,049
Committed - - 2,924,983 223,220 228,655 1,416,290 324,220 - - - 173,223 -
Assigned - - - - - - - - - - - -
Unassigned (Deficits)- - - - - - - - - - - -
Total Fund Balances (Deficits)34,681 115,324 2,929,300 223,220 228,655 1,416,290 324,220 4,343,662 278,898 2,020,547 173,223 298,049
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)$ 433,115 $ 151,052 $ 2,932,077 $ 1,365,248 $ 3,135,975 $ 2,447,015 652,759 $ 4,746,792 278,898 2,020,547 181,268 $ 309,001
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
69
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Inventory and Prepaid Items
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
Leach
$423,214 162,571 676,322 108,340 - 570,362 111,968 2,695,414 42,317 16,212,094 29,317,632
11,269 - 12,550 250 - 3,019 4 13,534 - - 745,828
- - - 15,563 - 1,178,365 67,667 - - - 5,110,745
- - - - - - - - - - -
- - - - - - - - - - 5,364,699
- - - - - 5,244 - - - - 9,561
- - - - - - - - - - -
- - - - - - - - - - 415,349
$ 434,483 $ 162,571 $ 688,872 $ 124,153 $ - $ 1,756,990 $ 179,639 $ 2,708,948 $ 42,317 $ 16,212,094 $ 40,963,814
25,875 - 2,009 4,351 48 72,785 1,039 9,850 - 479,179 999,080
- - - - 41,284 - - - - - 209,618
- - - - - - - - - - -
- - - - - - - - - - 8,000
- - - - - - - - - 15,064,937 15,064,937
25,875 - 2,009 4,351 41,332 72,785 1,039 9,850 - 15,544,116 16,281,635
- - - 23,000 - 1,730,000 100,000 - - - 7,540,400
- - - - - 5,244 - - - - 9,561
408,608 162,571 - - - - - - - - 7,662,340
- - 686,863 96,802 - - 78,600 2,699,098 42,317 - 8,894,271
- - - - - - - - - 667,978 667,978
- - - - (41,332) (51,039) - - - - (92,371)
408,608 162,571 686,863 96,802 (41,332) (45,795) 78,600 2,699,098 42,317 667,978 17,141,779
$ 434,483 $ 162,571 $ 688,872 $ 124,153 $ - $ 1,756,990 $ 179,639 $ 2,708,948 $ 42,317 $ 16,212,094 $ 40,963,814
Healthy
Neighborhood
Initiatives
Rental
Inspections
Total
Nonmajor
Special
Revenue
Funds
Pollock
Water Park
Park Revenue
Facilities
Garbage
Collection
and Disposal
Special Revenue Funds
Fire Special
Community
Development
Special Special EventsSpecial
70
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Inventory and Prepaid Items
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$- 3,967,722 181,143 137,144 9,076,027 - 411,039 2,000 125,237 -
- - 8,000 - 8,133 - - - - -
- - - - - - - - - 24,969
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- 4,385,387 - - - - - - - -
$- 8,353,109 189,143 $ 137,144 $ 9,084,160 - $ 411,039 $ 2,000 $ 125,237 $ 24,969
- - - - 5,877,683 571,323 - - - 3,602
3,348,127 - - - - 921,943 - - - 115,317
- - - 137,144 213,030 - - - - -
- - - - - - - - - -
- - - - - - - - - -
3,348,127 - - 137,144 6,090,713 1,493,266 - - - 118,919
- - - - - - - - - 36,900
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- 8,353,109 189,143 - 2,993,447 - 411,039 2,000 125,237 -
(3,348,127) - - - - (1,493,266) - - - (130,850)
(3,348,127) 8,353,109 189,143 - 2,993,447 (1,493,266) 411,039 2,000 125,237 (130,850)
$- 8,353,109 189,143 $ 137,144 $ 9,084,160 - $ 411,039 $ 2,000 $ 125,237 $ 24,969
Capital Projects Funds
Contract
Control
Grand Opera
HouseSenior Center
Street Tree
Memorial
Street
Improvement
Sidewalk
Construction
Advance
Payments
Special
Assessment
Park
Improvement
and
Acquisition
Park
Subdivision
Improvement
Mct Rochlin
Park
Smokestack
71
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Inventory and Prepaid Items
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$590,475 28,964 53,496 62,915 857,423 - 1,005,802 622,342 637,626 677,994 43,978
2,595 - - - - - - - - - -
- - - - 103,962 235,747 408,090 148,035 103,033 218,188 356,027
- - - - - - - - 1,035 - -
- - - - - - 555,000 - 50,000 - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - 2,534,037 - - -
$ 593,070 $ 28,964 $ 53,496 $ 62,915 961,385 $ 235,747 $ 1,968,892 $ 3,304,414 $ 791,694 $ 896,182 $ 400,005
46,762 - 53,496 62,915 - - 326,549 - - - -
- - - - - 473,546 - - - - -
- - - - - 1,000 - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
46,762 - 53,496 62,915 - 474,546 326,549 - - - -
- - - - 153,637 348,391 603,082 218,768 152,264 322,442 526,143
- - - - - - - - - - -
- 28,964 - - 807,748 - 1,039,261 3,085,646 639,430 573,740 -
- - - - - - - - - - -
546,308 - - - - - - - - - -
- - - - - (587,190) - - - - (126,138)
546,308 28,964 - - 807,748 (587,190) 1,039,261 3,085,646 639,430 573,740 (126,138)
$ 593,070 $ 28,964 $ 53,496 $ 62,915 961,385 $ 235,747 $ 1,968,892 $ 3,304,414 $ 791,694 $ 896,182 $ 400,005
Capital Projects Funds
Parking Ramp
Improvements
TIF No. 17 City
Centre
Redevelopment
TIF No. 13
Marion
Road/Pearl
Avenue
TIF No. 18 SW
Industrial Park
Expansion
TIF No. 14
Mercy
Medical
Center
TIF No. 8 S
Aviation
Industrial
TIF No. 10
Main and
Washington
TIF No. 11
Oshkosh
Office
Center
TIF No. 12
Division
Street
TIF No. 15
Park Plaza/
Commerce
Street
TIF No. 16 100
Block
Redevelopment
72
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Inventory and Prepaid Items
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$989,590 - 709,890 - 81,049 - - - 53,811 36,252 71,176
- - - - - - - - - - -
180,322 - 354,506 15,835 156,631 191,617 - 258,428 39,489 12,090 39,054
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- 2,761,099 - - - 2,253,621 - - - - -
$ 1,169,912 $ 2,761,099 $ 1,064,396 $ 15,835 $ 237,680 $ 2,445,238 $- $ 258,428 $ 93,300 $ 48,342 $ 110,230
- - - - - - - - - - -
- - - 2,688,476 - 2,300,000 3,602,924 783,811 - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - 2,688,476 - 2,300,000 3,602,924 783,811 - - -
266,483 - 523,895 23,401 231,472 283,175 - 381,910 58,358 17,867 57,714
- - - - - - - - - - -
903,429 2,761,099 540,501 - 6,208 - - - 34,942 30,475 52,516
- - - - - - - - - - -
- - - - - - - - - - -
- - - (2,696,042) - (137,937) (3,602,924) (907,293) - - -
903,429 2,761,099 540,501 (2,696,042) 6,208 (137,937) (3,602,924) (907,293) 34,942 30,475 52,516
$ 1,169,912 $ 2,761,099 $ 1,064,396 $ 15,835 $ 237,680 $ 2,445,238 $- $ 258,428 $ 93,300 $ 48,342 $ 110,230
TIF No. 30
Washington
Building
Capital Projects Funds
TIF No. 24
Oshkosh
Corp E-Coat Center Hotel
TIF No. 26
Aviation
Business Park
Main Street
Industrial Park
TIF No. 28 Beach
Building
Redevelopment
TIF No. 29
Morgan
District
TIF No. 23 SW
Expansion
TIF No. 19
Expansion
TIF No. 21
Fox River
Corridor
TIF No. 20 South
Shore
Redevelopment
73
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Inventory and Prepaid Items
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$248,848 10,219 386,344 319,358 1,709,333 127,403 110,079 5,416 52,283 -
- - - - - - - - - -
419,876 10,426 218,332 778,914 517,564 233,714 169,827 9,999 27,030 15,978
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - 78,277 - - - - -
$ 668,724 $ 20,645 $ 604,676 $ 1,098,272 $ 2,305,174 $ 361,117 $ 279,906 15,415 $ 79,313 $ 15,978
- - - - - - - - - 31
- - - - - - - - - 5,552
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - 5,583
620,500 15,408 322,655 1,151,093 764,865 345,387 250,973 14,777 39,946 23,612
- - - - - - - - - -
48,224 5,237 282,021 - 1,540,309 15,730 28,933 638 39,367 -
- - - - - - - - - -
- - - - - - - - - -
- - - (52,821) - - - - - (13,217)
48,224 5,237 282,021 (52,821) 1,540,309 15,730 28,933 638 39,367 (13,217)
$ 668,724 $ 20,645 $ 604,676 $ 1,098,272 $ 2,305,174 $ 361,117 $ 279,906 15,415 $ 79,313 $ 15,978
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
School
Redevelopment
Capital Projects Funds
TIF No. 31
Buckstaff
Redevelopment
TIF No. 37
Aviation
Plaza
74
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Loans
Inventory and Prepaid Items
Deposits with GO HNI
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$- - - 23,392,378 52,710,010 64,187,251
- - - 18,728 764,556 884,475
6,817 287 7 5,254,794 10,365,539 9,139,868
- - - 1,035 1,035 43,652
- - - 605,000 5,969,699 6,047,607
- - - - 9,561 -
- - - - - 213,769
- - - 12,012,421 12,427,770 2,150,234
$ 6,817 $287 $7 $ 41,284,356 $ 82,248,170 $ 82,666,856
- - - 6,942,361 7,941,441 4,394,422
7,672 2,838 62,215 14,312,421 14,522,039 12,658,374
- - - 351,174 351,174 360,535
- - - - 8,000 -
- - - - 15,064,937 17,312,024
7,672 2,838 62,215 21,605,956 37,887,591 34,725,355
10,074 424 11 7,765,627 15,306,027 14,264,327
- - 9,561 -
- - - 12,464,418 20,126,758 19,329,876
- - - - 8,894,271 8,651,100
- - - 12,620,283 13,288,261 17,710,448
(10,929) (2,975) (62,219) (13,171,928) (13,264,299) (12,014,250)
(10,929) (2,975) (62,219) 11,912,773 29,054,552 33,677,174
$ 6,817 $287 $7 $ 41,284,356 $ 82,248,170 $ 82,666,856
2023
TIF No. 41 Smith
School
Redevelopment
Capital Projects Funds Total Nonmajor Funds
Total Nomajor
Funds
TIF No. 43 Mill on
Main
TIF No. 42
Morgan Crossing
75
REVENUES
Taxes $ 7,119,900 $ 4,103,892 $- 11,223,792 $ 13,333,664
Special Assessments 140,610 - - 140,610 140,610
Intergovernmental 5,539,155 410,026 - 5,949,181 4,912,600
Licenses and Permits 60,291 - - 60,291 131,622
Public Charges for Services 1,853,728 5,475 - 1,859,203 1,851,913
Investment Earnings 1,045,933 18,913 1,279,743 2,344,589 169,116
Donations 638,221 27,254 97,534 763,009 2,110,151
Miscellaneous 684,963 127,316 21,741 834,020 1,890,047
Total Revenues 17,082,801 4,692,876 1,399,018 23,174,695 24,539,723
EXPENDITURES
Current:
General Government - - - - 629,525
Public Safety 219,401 - - 219,401 488,382
Public Works 4,182,527 883,620 - 5,066,147 4,049,639
Health and Human Services 1,107,916 - - 1,107,916 1,027,238
Culture and Recreation 8,565,267 35,747 160,593 8,761,607 8,525,901
Conservation and Development 2,610,670 1,755,838 - 4,366,508 6,017,778
Debt Service
Principal - 1,912,610 - 1,912,610 2,470,292
Interest 9,070 236,293 - 245,363 307,865
Capital Outlay 390,390 13,554,337 - 13,944,727 12,021,856
Total Expenditures 17,085,241 18,378,445 160,593 35,624,279 35,538,476
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (2,440) (13,685,569) 1,238,425 (12,449,584) (10,998,753)
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - 1,339,287 - 1,339,287 9,243,800
Sale of Capital Assets - - - - 44,405
Transfers In 696,959 7,034,000 - 7,730,959 986,052
Transfers Out (4,859) - (222,100) (226,959) (167,500)
Total Other Financing Sources (Use)692,100 8,373,287 (222,100) 8,843,287 10,106,757
NET CHANGE IN FUND BALANCES 689,660 (5,312,282) 1,016,325 (3,606,297) (891,996)
FUND BALANCES - BEGINNING 16,452,119 17,225,055 12,496,806 46,173,980 47,065,976
FUND BALANCES - ENDING $ 17,141,779 $ 11,912,773 $ 13,513,131 $ 42,567,683 $ 46,173,980
Special
Revenue Capital Projects
Totals
Permanent 20222023
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
76
REVENUES
Taxes $ 353,500 $- - $ 1,025,000 $ 2,792,700 $ 970,000 $ 318,900 - $- $- $- $-
Special Assessments - 140,610 - - - - - - - - - -
Intergovernmental 97,504 - 236,833 - 865,058 2,000 - 1,254,209 - - 1,500 111,809
Licenses and Permits - - - - - - - - - - - -
Charges for Services 25 - 891,028 - 225,759 26,806 66,283 - - - - -
Investment Earnings (Loss)5,450 6,039 103,912 23,130 41,672 83,918 12,679 (6,233) 7,618 26,003 5,723 10,848
Donations 110,596 - - - 2,000 143,302 33,928 - - - 7,405 98,429
Miscellaneous 75,760 96,941 20,253 - - 33,999 810 136,096 - 76,880 36,223 -
Total Revenues 642,835 243,590 1,252,026 1,048,130 3,927,189 1,260,025 432,600 1,384,072 7,618 102,883 50,851 221,086
EXPENDITURES
Current:
Public Safety - - - - - - - - - - - 55,007
Public Works - - 753,552 1,036,523 - - - - - - - -
Health and Human Services 676,128 - - - - - 403,114 - - - 28,674 -
Culture and Recreation - - - - 4,065,014 1,300,903 - - - - - -
Conservation and Development - 232,372 - - - - - 1,357,938 - 132,979 - -
Debt Service
Principal - - - - - - - - - - - -
Interest - - - - - - - 9,070 - - - -
Capital Outlay - - - - - 3,007 - - - - 5,420 199,089
Total Expenditures 676,128 232,372 753,552 1,036,523 4,065,014 1,303,910 403,114 1,367,008 - 132,979 34,094 254,096
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (33,293) 11,218 498,474 11,607 (137,825) (43,885) 29,486 17,064 7,618 (30,096) 16,757 (33,010)
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - - - - - - - - - - - -
Sale of Capital Assets - - - - - - - - - - - -
Transfers In - - - - 220,000 127,500 58,600 - - - - 16,000
Transfers Out - - - - - - - (4,859) - - - -
Total Other Financing Sources (Use)- - - - 220,000 127,500 58,600 (4,859) - - - 16,000
NET CHANGE IN FUND BALANCES (33,293) 11,218 498,474 11,607 82,175 83,615 88,086 12,205 7,618 (30,096) 16,757 (17,010)
FUND BALANCES (DEFICITS) - BEGINNING
FUND BALANCES (DEFICITS) - ENDING $ 34,681 $ 115,324 $ 2,929,300 $ 223,220 $ 228,655 $ 1,416,290 $ 324,220 $ 4,343,662 $ 278,898 $ 2,020,547 $ 173,223 $ 298,049
Senior Center Recycling
Business
Improvement
Community
Development
Neighborhood
Improvement Local Revolving
Senior
Services
Revolving
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
77
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
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
FUND BALANCES (DEFICITS) - ENDING
$- $- $- $ 23,000 $- $ 1,560,000 $ 64,000 $- $ 12,800 $- $ 7,119,900
- - - - - - - - - - 140,610
301,080 99,622 - - 322,452 - - - - 2,247,088 5,539,155
- - - - 60,291 - - - - - 60,291
1,225 - 265,791 37,092 - 63,376 276,193 - 150 - 1,853,728
11,751 3,319 18,927 3,011 (2,513) 24,005 - 91,691 1,454 573,529 1,045,933
- - 164,648 13,512 - - 64,401 - - - 638,221
- - 24,741 18,911 - - 46,459 117,890 - - 684,963
314,056 102,941 474,107 95,526 380,230 1,647,381 451,053 209,581 14,404 2,820,617 17,082,801
164,394 - - - - - - - - - 219,401
- - - - 345,145 1,772,952 - - - 274,355 4,182,527
- - - - - - - - - - 1,107,916
- - 632,611 90,625 - - 497,456 - 5,925 1,972,733 8,565,267
- 31,411 - - - - - 851,826 4,144 - 2,610,670
- - - - - - - - - - -
- - - - - - - - - - 9,070
78,712 - 7,229 - - - 96,933 - - - 390,390
243,106 31,411 639,840 90,625 345,145 1,772,952 594,389 851,826 10,069 2,247,088 17,085,241
70,950 71,530 (165,733) 4,901 35,085 (125,571) (143,336) (642,245) 4,335 573,529 (2,440)
- - - - - - - - - - -
- - - - - - - - - - -
- - 250,000 20,000 - - - 4,859 - - 696,959
- - - - - - - - - - (4,859)
- - 250,000 20,000 - - - 4,859 - - 692,100
70,950 71,530 84,267 24,901 35,085 (125,571) (143,336) (637,386) 4,335 573,529 689,660
337,658 91,041 602,596 71,901 (76,417) 79,776 221,936 3,336,484 37,982 94,449 16,452,119
$ 408,608 $ 162,571 $ 686,863 $ 96,802 $ (41,332) $ (45,795) $ 78,600 $ 2,699,098 $ 42,317 $ 667,978 $ 17,141,779
Park Revenue Leach
Community
Development Special Public Works
Garbage
Collection and Pollock Water
Healthy
Neighborhood Rental
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
78
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
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
FUND BALANCES (DEFICITS) - ENDING
$- $- $- $- $- $- $- $- $- $-
- - - - - - - - - -
- 144,044 - - - - - - - -
- - - - - - - - - -
- - - - - 5,475 - - - -
- - - - - - - - 4,211 (3,815)
- - 27,254 - - - - - - -
- - 7,600 - - - - - - -
- 144,044 34,854 - - 5,475 - - 4,211 (3,815)
- - - - - - - - - -
- - - - 868,361 - - - - -
- - - - - - - - - -
- - - - - 1,743 - - - 34,004
- - 111,405 - - - 1,600 - - -
- - - - - - - - - -
- - - - - - - - - -
1,600,877 8,040,618 - - - 3,491,568 - - - 1,400
1,600,877 8,040,618 111,405 - 868,361 3,493,311 1,600 - - 35,404
(1,600,877) (7,896,574) (76,551) - (868,361) (3,487,836) (1,600) - 4,211 (39,219)
300,000 1,039,287 - - - - - - - -
- - - - - - - - - -
- 4,484,000 250,000 - - - - - - -
- - - - - - - - - -
300,000 5,523,287 250,000 - - - - - - -
(1,300,877) (2,373,287) 173,449 - (868,361) (3,487,836) (1,600) - 4,211 (39,219)
(2,047,250) 10,726,396 15,694 - 3,861,808 1,994,570 412,639 2,000 121,026 (91,631)
$ (3,348,127) $ 8,353,109 $ 189,143 $- $ 2,993,447 $ (1,493,266) $ 411,039 $ 2,000 $ 125,237 $ (130,850)
Advance
Payments
Special Contract Grand Opera
Mct Rochlin
Park
Park
Subdivision
Park
Improvement Sidewalk Street Street Tree
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
79
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
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
FUND BALANCES (DEFICITS) - ENDING
$- $- $- $- $ 145,879 $ 323,874 $ 257,970 $ 215,531 $ 146,786 $ 311,330 $ 520,962
- - - - - - - - - - -
- - - - 1,953 10,112 112 47,574 564 52,522 54,240
- - - - - - - - - - -
- - - - - - - - - - -
18,517 - - - - - - - - - -
- - - - - - - - - - -
119,716 - - - - - - - - - -
138,233 - - - 147,832 333,986 258,082 263,105 147,350 363,852 575,202
- - - - - - - - - - -
15,259 - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - 53,496 62,915 136,209 1,561 5,383 136,211 150 150 150
- 5,000 - - - 245,000 60,000 - - 285,000 40,000
- 562 - - - 10,172 1,410 - - 57,298 2,400
58,532 - - - - - 326,579 - - - -
73,791 5,562 53,496 62,915 136,209 256,733 393,372 136,211 150 342,448 42,550
64,442 (5,562) (53,496) (62,915) 11,623 77,253 (135,290) 126,894 147,200 21,404 532,652
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
64,442 (5,562) (53,496) (62,915) 11,623 77,253 (135,290) 126,894 147,200 21,404 532,652
481,866 34,526 53,496 62,915 796,125 (664,443) 1,174,551 2,958,752 492,230 552,336 (658,790)
$ 546,308 $ 28,964 $- $- $ 807,748 $ (587,190) $ 1,039,261 $ 3,085,646 $ 639,430 $ 573,740 $ (126,138)
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
TIF No. 15 Park
Plaza/
Commerce
TIF No. 16 100
Block TIF No. 12
TIF No. 13
Marion
Road/Pearl
TIF No. 11
Oshkosh Office Parking Ramp
TIF No. 8 S
Aviation TIF No. 10 Main
TIF No. 14
Mercy Medical
TIF No. 17 City
Centre
TIF No. 18 SW
Industrial Park
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
80
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
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
FUND BALANCES (DEFICITS) - ENDING
$ 261,136 $- $ 435,498 $ 22,226 $ 5,840 $ 276,451 $- $ 303,707 $ 12,874 $ 14,642 $ 13,907
- - - - - - - - - - -
25,259 1,049 485 - 8,693 7,674 - 55,745 - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
286,395 1,049 435,983 22,226 14,533 284,125 - 359,452 12,874 14,642 13,907
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - - - - - - -
62,947 4,337 78,646 150 80,394 973,914 150 150 150 150 150
30,000 235,000 100,000 493,559 - - 401,488 - - - -
900 54,838 22,949 65,779 - - 11,041 - - - -
- 30,180 - - - - - - - - -
93,847 324,355 201,595 559,488 80,394 973,914 412,679 150 150 150 150
192,548 (323,306) 234,388 (537,262) (65,861) (689,789) (412,679) 359,302 12,724 14,492 13,757
- - - - - - - - - - -
- - - - - - - - - - -
- - - - - 2,300,000 - - - - -
- - - - - - - - - - -
- - - - - 2,300,000 - - - - -
192,548 (323,306) 234,388 (537,262) (65,861) 1,610,211 (412,679) 359,302 12,724 14,492 13,757
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
$ 903,429 $ 2,761,099 $ 540,501 $ (2,696,042) $ 6,208 $ (137,937) $ (3,602,924) $ (907,293) $ 34,942 $ 30,475 $ 52,516
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
TIF No. 24
TIF No. 25 City
TIF No. 26
Aviation
TIF No. 27
North Main
Street Industrial
TIF No. 28
Beach Building TIF No. 29
TIF No. 30
Washington
TIF No. 19 NW
Industrial
TIF No. 20
South Shore TIF No. 21 Fox
TIF No. 23 SW
Industrial Park
81
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
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
FUND BALANCES (DEFICITS) - ENDING
$ 53,316 $ 1,476 $ 77,806 $170 $ 624,273 $ 20,524 $ 23,511 $ 10,034 $ 24,169 $-
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
53,316 1,476 77,806 170 624,273 20,524 23,511 10,034 24,169 -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
150 150 150 150 150 450 150 150 150 3,966
17,563 - - - - - - - - -
8,944 - - - - - - - - -
- - - - 4,583 - - - - -
26,657 150 150 150 4,733 450 150 150 150 3,966
26,659 1,326 77,656 20 619,540 20,074 23,361 9,884 24,019 (3,966)
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
26,659 1,326 77,656 20 619,540 20,074 23,361 9,884 24,019 (3,966)
21,565 3,911 204,365 (52,841) 920,769 (4,344) 5,572 (9,246) 15,348 (9,251)
$ 48,224 $ 5,237 $ 282,021 $ (52,821) $ 1,540,309 $ 15,730 $ 28,933 $638 $ 39,367 $ (13,217)
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
TIF No. 32
Granary
TIF No. 39
Cabrini School
TIF No. 33
Lamico
TIF No. 34
Oshkosh Corp
TIF No. 35
Oshkosh Ave
TIF No. 40 Miles
Kimball
TIF No. 36
Merge TIF No. 37
TIF No. 38
Pioneer
TIF No. 31
Buckstaff
82
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
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
FUND BALANCES (DEFICITS) - ENDING
$- $- $- $ 4,103,892 $ 11,223,792 $ 13,333,664
- - - - 140,610 140,610
- - - 410,026 5,949,181 4,912,600
- - - - 60,291 131,622
- - - 5,475 1,859,203 1,851,913
- - - 18,913 1,064,846 169,116
- - - 27,254 665,475 1,398,553
- - - 127,316 812,279 1,870,728
- - - 4,692,876 21,775,677 23,808,806
- - - - 219,401 488,382
- - - 883,620 5,066,147 4,049,639
- - - - 1,107,916 1,027,238
- - - 35,747 8,601,014 8,374,621
150 150 39,554 1,755,838 4,366,508 6,017,778
- - - 1,912,610 1,912,610 2,470,292
- - - 236,293 245,363 307,865
- - - 13,554,337 13,944,727 12,021,856
150 150 39,554 18,378,445 35,463,686 34,757,671
(150) (150) (39,554) (13,685,569) (13,688,009) (10,948,865)
- - - 1,339,287 1,339,287 9,243,800
- - - - - 44,405
- - - 7,034,000 7,730,959 986,052
- - - - (4,859) -
- - - 8,373,287 9,065,387 10,274,257
(150) (150) (39,554) (5,312,282) (4,622,622) (674,608)
(10,779) (2,825) (22,665) 17,225,055 33,677,174 34,351,782
$ (10,929) $ (2,975) $ (62,219) $ 11,912,773 $ 29,054,552 $ 33,677,174
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2023
With Summarized Information From December 31, 2022
Total Nonmajor Funds
2023
Total Nomajor
Capital Projects
TIF No. 41 Smith
School TIF No. 43 Mill
TIF No. 42
Morgan
83
THIS PAGE LEFT BLANK INTENTIONALLY
ASSETS
Current Assets:
Cash and Investments $ 83,979 $ 1,441,368 $-
Accounts Receivable - 283,593 -
Other Receviables - --
Due from Other Funds - --
Prepaid Items 15,283 - -
Total Current Assets 99,262 1,724,961 -
Noncurrent Assets:
Assets Held for Resale - - 4,447,936
Net Pension Asset - - -
Land 1,817,234 3,217,183 -
Buildings and Improvements - 8,784,902 -
Infrastructure 3,447,323 - -
Machinery and Equipment 10,291 1,578,202 -
Accumulated Depreciation (2,285,212) (3,901,039) -
Total Noncurrent Assets 2,989,636 9,679,248 4,447,936
TOTAL ASSETS 3,088,898 11,404,209 4,447,936
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension 30,125 - -
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 4,653 12,910 -
Total Deferred Outflows of Resources 34,778 12,910 -
CURRENT LIABILITIES
Accounts Payable 481 447,372 2,000
Accrued Interest 158 31,124 360
Due to Other Funds - - 1,341,845
Deposits from Others - 5,000 -
Unearned Revenue - - -
Current Portion of Other Post-Employment Benefits Liability 218 605 -
Current Portion of Compensated Absences 278 - -
Current Portion of Long-Term Obligations - 202,695 35,000
Total Current Liabilities 1,135 686,796 1,379,205
NONCURRENT LIABILITIES
Net Pension Liability 8,044 - -
Noncurrent Portion of Other Post-Employment Benefits Liability 6,904 19,153 -
Noncurrent Portion of Compensated Absences 1,113 - -
Noncurrent Portion of Long-Term Obligations 25,000 664,809 115,000
Total Noncurrent Liabilities 41,061 683,962 115,000
TOTAL LIABILITIES 42,196 1,370,758 1,494,205
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows of Resources Related to Pension 16,889 - -
Deferred Inflows of Resources Related to
Other Post-Employment Benefits 4,353 12,076 -
Total Deferred Inflows of Resources 21,242 12,076 -
NET POSITION
Net Investment in Capital Assets 2,964,636 8,811,744 -
Restricted 5,192 - -
Unrestricted 90,410 1,222,541 2,953,731
TOTAL NET POSITION
Parking Utility
Oshkosh
Convention
Center
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Net Position
Nonmajor Enterprise Funds
As of December 31, 2023
With Summarized Information from December 31, 2022
Industrial Park
Land
84
$ 1,146,222 $ 2,671,569 $ 2,616,796
12,829 296,422 259,563
30,738 30,738 -
1,341,845 1,341,845 1,240,829
- 15,283 16,716
2,531,634 4,355,857 4,133,904
- 4,447,936 4,447,936
- - 311,507
- 5,034,417 5,034,417
- 8,784,902 8,396,796
- 3,447,323 3,447,323
- 1,588,493 1,588,493
- (6,186,251) (5,865,789)
- 17,116,820 17,360,683
2,531,634 21,472,677 21,494,587
594,862 624,987 609,219
101,861 119,424 149,670
696,723 744,411 758,889
873 450,726 562,178
- 31,642 28,836
- 1,341,845 1,240,829
- 5,000 5,000
528 528 318
3,971 4,794 4,864
10,678 10,956 14,349
- 237,695 229,069
16,050 2,083,186 2,085,443
158,841 166,885 -
164,963 191,020 243,412
42,713 43,826 33,483
- 804,809 1,042,504
366,517 1,206,540 1,319,399
382,567 3,289,726 3,404,842
333,498 350,387 733,359
106,516 122,945 99,775
440,014 473,332 833,134
- 11,776,380 11,514,667
102,523 107,715 187,367
2,303,253 6,569,935 6,313,466
Inspection
Services 2023 2022
Totals
85
OPERATING REVENUES
Charges for Services $ 78,033 $- $-
Taxes - 2,530,104 -
Fines, Forfeitures and Penalties 7,355 - -
Other Operating Revenues - 102,274 26,519
Total Operating Revenues 85,388 2,632,378 26,519
OPERATING EXPENSES
Operation and Maintenance 115,550 1,970,010 23,955
Depreciation 125,792 194,670 -
Total Operating Expenses 241,342 2,164,680 23,955
OPERATING INCOME (LOSS)(155,954) 467,698 2,564
NONOPERATING REVENUES (EXPENSES)
Gain on Disposal of Capital Assets - - 500
Investment Earnings (Loss)3,444 43,746 (43,793)
Interest Expense (2,064) (50,653) (5,212)
Total Nonoperating Revenues (Expenses)1,380 (6,907) (48,505)
CHANGE IN NET POSITION (154,574) 460,791 (45,941)
NET POSITION - BEGINNING 3,214,812 9,573,494 2,999,672
NET POSITION - ENDING
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenses and Changes in Net Position
Nonmajor Enterprise Funds
For the Year Ended December 31, 2023
With Summarized Information from December 31, 2022
Parking Utility
Oshkosh
Convention
Center
Industrial Park
Land
86
$ 1,287,060 $ 1,365,093 $ 1,613,874
- 2,530,104 2,337,753
- 7,355 12,905
- 128,793 105,357
1,287,060 4,031,345 4,069,889
1,190,763 3,300,278 2,887,865
- 320,462 307,259
1,190,763 3,620,740 3,195,124
96,297 410,605 874,765
- 500 -
81,957 85,354 -
- (57,929) (48,416)
81,957 27,925 (48,416)
178,254 438,530 826,349
2,227,522 18,015,500 17,189,151
2023 2022
Totals
Inspection
Services
87
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers $ 85,388 $ 2,594,731 $ 26,519
Cash Paid To Suppliers (62,160) (1,959,608) (43,954)
Cash Paid to Employees For Wages and Benefits (30,819) (96,871) -
Net Cash Flows From Operating Activities
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Due to/from Other Funds - - 101,016
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of Capital Assets - (388,106) -
Sale of Capital Assets - - 500
Principal Payments on Long-Term Debt - (194,069) (35,000)
Interest and Fiscal Charges (2,064) (47,771) (5,288)
Net Cash Flows From Capital and
Related Financing Activities (2,064) (629,946) (39,788)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Earnings (Loss) 3,444 43,746 (43,793)
83,979 1,441,368 -
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 83,979 1,441,368 -
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss)$ (155,954) $ 467,698 $ 2,564
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Depreciation 125,792 194,670 -
Changes in Assets and Liabilities:
Accounts Receivable - (37,647) -
Other Receivables - - -
Prepaid Items 1,433 - -
Accounts Payable 35 (88,259) (19,999)
Unearned Revenue - - -
Compensated Absences (67) - -
Net Pension Asset 48,322 - -
Net Pension Liability 8,044 - -
Deferred Outflows Related to Pension 64,380 - -
Deferred Inflows Related to Pension (96,873) - -
OPEB Liability (4,544) (1,225) -
Deferred Outflows Related to OPEB 3,593 1,920 -
Deferred Inflows Related to OPEB (1,752) 1,095 -
Net Cash Flows From
$(7,591) $538,252 $(17,435)
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended December 31, 2023
With Summarized Information from December 31, 2022
CHANGE IN CASH AND INVESTMENTS
CASH AND INVESTMENTS - BEGINNING
Industrial Park
LandParking Utility
Oshkosh
Convention
Center
CASH AND INVESTMENTS - ENDING
88
$ 1,257,110 $ 3,963,748 $
(271,851) (2,337,573) (1,497,682)
(857,268) (984,958) (1,017,601)
(101,016) -
- (388,106) (470,345)
- 500
- (229,069) (295,712)
- (55,123) (65,969)
- (671,798) (832,026)
81,957 85,354
1,146,222 2,671,569
1,146,222 2,671,569
$ 96,297 $ 410,605 $ 874,765
- 320,462 307,259
788 (36,859) (33,316)
(30,738) (30,738) -
- 1,433 1,432
(3,229) (111,452) 400,813
210 210 (165)
7,017 6,950 1,578
263,185 311,507 (61,131)
158,841 166,885 -
(80,148) (15,768) (192,870)
(286,099) (382,972) 184,822
(46,693) (52,462) 68,416
24,733 30,246 (95,177)
23,827 23,170 64,864
2022
Totals
Inspection
Services 2023
89
ASSETS
Current Assets:
Cash and Investments 5,144,152 592,104 - 5,736,256 4,310,623
Accouns Receivable - - 12,046 12,046 24,761
Due from Other Funds 1,668,399 - - 1,668,399 1,719,923
Prepaid Items - 75,000 - 75,000 75,000
Inventories - - 497,331 497,331 625,295
Total Current Assets 6,812,551 667,104 509,377 7,989,032 6,755,602
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension - 47,417 2,408,975 2,456,392 -
Deferred Outflows of Resources Related
to Other Post-Employment Benefits - 7,039 400,591 407,630 5,042
Total Deferred Outflows of Resources - 54,456 2,809,566 2,864,022 5,042
CURRENT LIABILITIES
Accounts and Claims Payable 2,245,592 18,193 57,846 2,321,631 2,595,859
Due to Other Funds - - 1,668,399 1,668,399 1,719,923
Current Other Post-Employment Benefits Liability - 190 15,736 15,926 195
Total Current Liabilities 2,245,592 18,383 1,741,981 4,005,956 4,315,977
NONCURRENT LIABILITIES
Net Pension Liability - 12,661 643,246 655,907 -
Other Post-Employment Benefits Liability - 12,868 646,682 659,550 6,939
Total Noncurrent Liabilities - 25,529 1,289,928 1,315,457 6,939
TOTAL LIABILITIES 2,245,592 43,912 3,031,909 5,321,413 4,322,916
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows of Resources Related to Pension - 26,583 1,350,544 1,377,127 -
Deferred Inflows of Resources Related
to Other Post-Employment Benefits - 8,552 417,215 425,767 3,733
Total Deferred Inflows of Resources - 35,135 1,767,759 1,802,894 3,733
NET POSITION
Unrestricted (Deficit)$4,566,959 $642,513 $(1,480,725) $3,728,747 $2,433,995
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2022
As of December 31, 2023
Internal Service Funds
Combining Statement of Net Position (Deficit)
2022
TotalHealth
Insurance
Worker's
Compensation 2023
Field
Operations
90
OPERATING REVENUES
Charges for Services $ 11,793,790 $ 1,050,300 $ 5,201,133 $ 18,045,223 $ 14,274,527
Other Operating Revenues 1,502,352 - - 1,502,352 457,416
Total Operating Revenues 13,296,142 1,050,300 5,201,133 19,547,575 14,731,943
OPERATING EXPENSES
Operation and Maintenance - - 6,196,164 6,196,164 1,732,859
Claims and Administration 11,092,592 964,067 - 12,056,659 12,892,962
Total Operating Expenses 11,092,592 964,067 6,196,164 18,252,823 14,625,821
OPERATING INCOME (LOSS)2,203,550 86,233 (995,031) 1,294,752 106,122
NONOPERATING REVENUES
Investment Income - - - - 853
INCOME (LOSS) BEFORE TRANSFERS 2,203,550 86,233 (995,031) 1,294,752 106,975
TRANSFERS IN - - - - 755,299
TRANSFERS OUT - - - - (730,299)
CHANGE IN NET POSITION 2,203,550 86,233 (995,031) 1,294,752 131,975
NET POSITION (DEFICIT) - BEGINNING 2,363,409 556,280 (485,694) 2,433,995 2,302,020
NET POSITION (DEFICIT) - ENDING
With Summarized Information from December 31, 2022
For the Year Ended December 31, 2023
Internal Service Funds
Statement of Revenues, Expenses and Changes in Net Position (Deficit)
CITY OF OSHKOSH, WISCONSIN
2023
Field
Operations 2022
Worker's
Compensation
Health
Insurance
Total
91
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from City $ 13,320,903 $ 1,050,300 $ 5,189,087 $ 19,560,290 $
Paid to Suppliers for Goods and Services (11,381,299) (925,664) (2,320,446) (14,627,409) (12,630,146)
Cash Paid to Employees For Wages and Benefits - (43,180) (3,464,068) (3,507,248) (47,743)
Net Cash Flows From Operating Activities 1,939,604 81,456 (595,427) 1,425,633
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Due to/from Other Fund 51,524 - (51,524) -
Net Cash Flows From Noncapital Financing Activities 51,524 - (51,524) -
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Income - - - -
5,144,152 592,104 - 5,736,256
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 5,144,152 592,104 - 5,736,256
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss)$ 2,203,550 $ 86,233 $ (995,031) $ 1,294,752 $ 106,122
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Changes in Assets and Liabilities:
Accounts Receivable 24,761 - (12,046) 12,715 (24,761)
Inventories - - 127,964 127,964 (625,295)
Deferred Outflows Related to Pension - (47,417) (2,408,975) (2,456,392) -
Deferred Outflows Related to OPEB - (1,997) (400,591) (402,588) (3,789)
Accounts and Claims Payable (288,707) (5,350) 19,829 (274,228) 2,572,755
Net Pension Liability - 12,661 643,246 655,907 -
OPEB Liability - 5,924 662,418 668,342 1,764
Deferred Inflows Related to Pension - 26,583 1,350,544 1,377,127 -
Deferred Inflows Related to OPEB - 4,819 417,215 422,034 2,497
Net Cash Flows From
$1,939,604 $81,456 $(595,427) $1,425,633 $2,029,293
With Summarized Information from December 31, 2022
For the Year Ended December 31, 2023
Internal Service Funds
Combining Statement of Cash Flows
CITY OF OSHKOSH, WISCONSIN
Health
Insurance
Worker's
Compensation
Totals
2023Field Operations 2022
CHANGE IN CASH AND INVESTMENTS
CASH AND INVESTMENTS - BEGINNING
CASH AND INVESTMENTS - ENDING
92
REVENUES
Taxes 13,277,100 13,277,100 13,277,100 -
Total Revenues
EXPENDITURES
Principal 11,232,300 11,232,300 11,297,292 (64,992)
Interest and Fiscal Charges 4,387,700 4,387,700 4,264,076 123,624
Total Expenditures
DEFICIENCY OF REVENUES
UNDER EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds from Long-term Debt - - 14,213 14,213
Debt Premium - - 453,969 453,969
Transfers In 2,000,000 2,000,000 2,000,000 -
Transfers Out - - (16,000,500) (16,000,500)
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Favorable
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Debt Service
For the Year Ended December 31, 2023
Variance
Original Actual
Final Budget
93
REVENUES
Taxes 1,088,200 1,088,200 1,088,200 -
Intergovernmental - - 100,000 100,000
Total Revenues
EXPENDITURES
Capital Outlay - - 11,744,581 (11,744,581)
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES
Proceeds from Long-term Debt - - 4,971,500 4,971,500
Transfers In - - 11,516,500 11,516,500
Total Other Financing Sources
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, 2023
Variance
Original Actual Favorable
Final Budget
94
REVENUES
Special Assessments 3,630,300 3,630,300 4,213,297 582,997
EXPENDITURES
Principal 1,085,000 1,085,000 1,085,000 -
Interest and Fiscal Charges 248,600 248,600 248,625 (25)
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 Assessment Improvement
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
95
REVENUES
Taxes 353,500 353,500 353,500 -
Intergovernmental 91,100 91,100 97,504 6,404
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 - Senior Services
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
96
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, 2023
Variance
Original Actual Favorable
Final Budget
97
REVENUES
Intergovernmental $237,000 $237,000 $236,833 $(167)
Charges for Services 15,228
Investment Earnings 103,912
Miscellaneous (19,747)
Total Revenues 1,152,800 1,152,800 1,252,026 99,226
EXPENDITURES
78,031
Capital Outlay 210,000 210,000 - 210,000
Total Expenditures 1,040,300 1,041,583 753,552 288,031
NET CHANGE IN FUND BALANCE 112,500 111,217 498,474 387,257
FUND BALANCE - BEGINNING 2,430,826 2,430,826 2,430,826 -
FUND BALANCE - ENDING $ 2,543,326 $ 2,542,043 $ 2,929,300 $ 387,257
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, 2023
Variance
Original Actual Favorable
Final Budget
98
REVENUES
Taxes $1,025,000 $1,025,000 $1,025,000 $-
Investment Earnings 23,130
Total Revenues 1,025,000 1,025,000 1,048,130 23,130
EXPENDITURES
104,277
NET CHANGE IN FUND BALANCE (115,800) (115,800) 11,607 127,407
FUND BALANCE - BEGINNING 211,613 211,613 211,613 -
FUND BALANCE - ENDING $ 95,813 $ 95,813 $ 223,220 $ 127,407
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, 2023
Variance
Original Actual Favorable
Final Budget
99
REVENUES
Taxes $2,792,700 $2,792,700 $2,792,700 $-
Intergovernmental 864,000 864,000 865,058 1,058
Charges for Services (14,741)
Investment Earnings 41,672
Miscellaneous 2,000
Total Revenues 3,897,200 3,897,200 3,927,189 29,989
EXPENDITURES
Culture and Recreation (179,814)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 12,000 12,000 (137,825) (149,825)
OTHER FINANCING SOURCE
Transfers In - - 220,000 220,000
NET CHANGE IN FUND BALANCE 12,000 12,000 82,175 70,175
FUND BALANCE - BEGINNING 146,480 146,480 146,480 -
FUND BALANCE - ENDING $ 158,480 $ 158,480 $ 228,655 $ 70,175
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, 2023
Variance
Original Actual Favorable
Final Budget
100
REVENUES
Taxes $970,000 $970,000 $970,000 $-
Intergovernmental - - 2,000 2,000
Charges for Services (3,194)
Investment Earnings 63,918
Miscellaneous 88,301
Total Revenues 1,108,000 1,109,000 1,260,025 151,025
EXPENDITURES
Culture and Recreation 12,797
Capital Outlay 8,500 8,500 3,007 5,493
Total Expenditures 1,278,700 1,322,200 1,303,910 18,290
DEFICIENCY OF REVENUES
UNDER EXPENDITURES (170,700) (213,200) (43,885) 169,315
OTHER FINANCING SOURCE
Transfers In 127,000 127,000 127,500 500
NET CHANGE IN FUND BALANCE (43,700) (86,200) 83,615 169,815
FUND BALANCE - BEGINNING 1,332,675 1,332,675 1,332,675 -
FUND BALANCE - ENDING $ 1,288,975 $ 1,246,475 $ 1,416,290 $ 169,815
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, 2023
Variance
Original Actual Favorable
Final Budget
101
REVENUES
Taxes $318,900 $318,900 $318,900 $-
Charges for Services (13,717)
Investment Earnings 12,679
Miscellaneous 33,838
Total Revenues 399,800 399,800 432,600 32,800
EXPENDITURES
48,586
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (37,700) (51,900) 29,486 81,386
OTHER FINANCING SOURCE
Transfers In 58,600 58,600 58,600 -
NET CHANGE IN FUND BALANCE 20,900 6,700 88,086 81,386
FUND BALANCE - BEGINNING 236,134 236,134 236,134 -
FUND BALANCE - ENDING $ 257,034 $ 242,834 $ 324,220 $ 81,386
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, 2023
Variance
Original Actual Favorable
Final Budget
102
REVENUES
Intergovernmental $812,300 $812,300 $1,254,209 $ 441,909
Investment Earnings (Loss)(6,233)
Miscellaneous (113,904)
Total Revenues 1,062,300 1,062,300 1,384,072 321,772
EXPENDITURES
(162,238)
Debt Service:-
Interest and Fiscal Charges - - 9,070 (9,070)
Total Expenditures 1,060,700 1,195,700 1,367,008 (171,308)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 1,600 (133,400) 17,064 150,464
OTHER FINANCING USE
Transfers Out - - (4,859) (4,859)
NET CHANGE IN FUND BALANCE 1,600 (133,400) 12,205 145,605
FUND BALANCE - BEGINNING 4,331,457 4,331,457 4,331,457 -
FUND BALANCE - ENDING $ 4,333,057 $ 4,198,057 $ 4,343,662 $ 145,605
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, 2023
Variance
Original Actual Favorable
Final Budget
103
REVENUES
Investment Earnings $$$$ 7,618
EXPENDITURES
218,100
NET CHANGE IN FUND BALANCE (218,100) (218,100) 7,618 225,718
FUND BALANCE - BEGINNING 271,280 271,280 271,280 -
FUND BALANCE - ENDING $ 53,180 $ 53,180 $ 278,898 $ 225,718
Budget Final Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Neighborhood Improvement Loan Program
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
104
REVENUES
Investment Earnings $$$$ 26,003
Miscellaneous (123,120)
Total Revenues 200,000 200,000 102,883 (97,117)
EXPENDITURES
317,021
NET CHANGE IN FUND BALANCE (250,000) (250,000) (30,096) 219,904
FUND BALANCE - BEGINNING 2,050,643 2,050,643 2,050,643 -
FUND BALANCE - ENDING $ 1,800,643 $ 1,800,643 $ 2,020,547 $ 219,904
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, 2023
Variance
Original Actual Favorable
Final Budget
105
REVENUES
Intergovernmental $3,000 $3,000 $1,500 $ (1,500)
Investment Earnings 5,723
Miscellaneous 3,128
Total Revenues 48,400 43,500 50,851 7,351
EXPENDITURES
18,626
Capital Outlay 6,000 6,000 5,420 580
Total Expenditures 48,400 53,300 34,094 19,206
NET CHANGE IN FUND BALANCE - (9,800) 16,757 26,557
FUND BALANCE - BEGINNING 156,466 156,466 156,466 -
FUND BALANCE - ENDING $ 156,466 $ 146,666 $ 173,223 $ 26,557
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, 2023
Variance
Original Actual Favorable
Final Budget
106
REVENUES
Intergovernmental $18,500 $18,500 $111,809 $ 93,309
Investment Earnings 10,848
Miscellaneous 18,429
Total Revenues 98,500 98,500 221,086 122,586
EXPENDITURES
43,493
Capital Outlay - - 199,089 (199,089)
Total Expenditures 98,500 98,500 254,096 (155,596)
DEFICIENCY OF REVENUES
UNDER EXPENDITURES - - (33,010) (33,010)
OTHER FINANCING SOURCE
Transfers In - - 16,000 16,000
NET CHANGE IN FUND BALANCE - - (17,010) (17,010)
FUND BALANCE - BEGINNING 315,059 315,059 315,059 -
FUND BALANCE - ENDING $ 315,059 $ 315,059 $ 298,049 $ (17,010)
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, 2023
Variance
Original Actual Favorable
Final Budget
107
REVENUES
Intergovernmental $140,800 $140,800 $301,080 $ 160,280
Charges for Services 1,225
Investment Earnings 11,751
Total Revenues 140,800 140,800 314,056 173,256
EXPENDITURES
(19,625)
Capital Outlay 36,200 39,161 78,712 (39,551)
Total Expenditures 154,200 183,930 243,106 (59,176)
NET CHANGE IN FUND BALANCE (13,400) (43,130) 70,950 114,080
FUND BALANCE - BEGINNING 337,658 337,658 337,658 -
FUND BALANCE - ENDING $ 324,258 $ 294,528 $ 408,608 $ 114,080
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, 2023
Variance
Original Actual Favorable
Final Budget
108
REVENUES
Intergovernmental $142,000 $142,000 $99,622 $ (42,378)
Investment Earnings 3,319
Total Revenues 142,000 142,000 102,941 (39,059)
EXPENDITURES
108,389
NET CHANGE IN FUND BALANCE 2,200 2,200 71,530 69,330
FUND BALANCE - BEGINNING 91,041 91,041 91,041 -
FUND BALANCE - ENDING $ 93,241 $ 93,241 $ 162,571 $ 69,330
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, 2023
Variance
Original Actual Favorable
Final Budget
109
REVENUES
Intergovernmental $15,000 $15,000 $-$ (15,000)
Charges for Services (2,909)
Investment Earnings 18,927
Miscellaneous (6,011)
Total Revenues 479,100 479,100 474,107 (4,993)
EXPENDITURES
Culture and Recreation 29,789
Capital Outlay 25,000 25,000 7,229 17,771
Total Expenditures 668,900 687,400 639,840 29,789
DEFICIENCY OF REVENUES
UNDER EXPENDITURES (189,800) (208,300) (165,733) 24,796
OTHER FINANCING SOURCE
Transfers In 250,000 250,000 250,000 -
NET CHANGE IN FUND BALANCE 60,200 41,700 84,267 24,796
FUND BALANCE - BEGINNING 602,596 602,596 602,596 -
FUND BALANCE - ENDING $ 662,796 $ 644,296 $ 686,863 $ 24,796
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, 2023
Variance
Original Actual Favorable
Final Budget
110
REVENUES
Taxes $23,000 $23,000 $23,000 $-
Charges for Services 9,092
Investment Earnings 3,011
Miscellaneous 9,323
Total Revenues 74,100 74,100 95,526 21,426
EXPENDITURES
Culture and Recreation 15,775
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (25,000) (32,300) 4,901 37,201
OTHER FINANCING SOURCE
Transfers In 25,000 25,000 20,000 (5,000)
NET CHANGE IN FUND BALANCE -(7,300) 24,901 32,201
FUND BALANCE - BEGINNING 71,901 71,901 71,901 -
FUND BALANCE - ENDING $ 71,901 $ 64,601 $ 96,802 $ 32,201
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, 2023
Variance
Original Actual Favorable
Final Budget
111
REVENUES
Intergovernmental $300,000 $300,000 $322,452 $ 22,452
Licenses and Permits 160,000 160,000 60,291 (99,709)
Investment Earnings (Loss)(2,513)
Total Revenues 460,000 460,000 380,230 (79,770)
EXPENDITURES
73,155
NET CHANGE IN FUND BALANCE 41,700 41,700 35,085 (6,615)
FUND BALANCE (DEFICIT) - BEGINNING (76,417) (76,417) (76,417) -
FUND BALANCE (DEFICIT) - ENDING $ (34,717) $ (34,717) $ (41,332) $ (6,615)
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, 2023
Variance
Original Actual Favorable
Final Budget
112
REVENUES
Taxes $1,560,000 $1,560,000 $1,560,000 $-
Charges for Services 12,376
Investment Earnings 24,005
Total Revenues 1,611,000 1,611,000 1,647,381 36,381
EXPENDITURES
(13,182)
NET CHANGE IN FUND BALANCE (107,200) (148,770) (125,571) 23,199
FUND BALANCE - BEGINNING 79,776 79,776 79,776 -
FUND BALANCE (DEFICIT) - ENDING $ (27,424) $ (68,994) $ (45,795) $ 23,199
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Garbage Collection and Disposal
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
113
REVENUES
Taxes $64,000 $64,000 $64,000 $-
Charges for Services 38,293
Miscellaneous (399,140)
Total Revenues 811,900 811,900 451,053 (360,847)
EXPENDITURES
Culture and Recreation (41,356)
Capital Outlay 359,000 452,561 96,933 355,628
Total Expenditures 811,300 908,661 594,389 314,272
NET CHANGE IN FUND BALANCE 600 (96,761) (143,336) (46,575)
FUND BALANCE - BEGINNING 221,936 221,936 221,936 -
FUND BALANCE - ENDING $ 222,536 $ 125,175 $ 78,600 $ (46,575)
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, 2023
Variance
Original Actual Favorable
Final Budget
114
REVENUES
Interest Earnings $$$$ 91,691
Miscellaneous 57,890
Total Revenues 60,000 60,000 209,581 149,581
EXPENDITURES
343,974
DEFICIENCY OF REVENUES
UNDER EXPENDITURES (1,135,800) (1,135,800) (642,245) 493,555
OTHER FINANCING SOURCE
Transfers In - - 4,859 4,859
NET CHANGE IN FUND BALANCE (1,135,800) (1,135,800) (637,386) 498,414
FUND BALANCE - BEGINNING 3,336,484 3,336,484 3,336,484 -
FUND BALANCE - ENDING $ 2,200,684 $ 2,200,684 $ 2,699,098 $ 498,414
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, 2023
Variance
Original Actual Favorable
Final Budget
115
REVENUES
Taxes $12,800 $12,800 $12,800 $-
Charges for Services 150
Investment Earnings 1,454
Total Revenues 12,800 12,800 14,404 1,604
EXPENDITURES
Culture and Recreation 3,175
(444)
Total Expenditures 12,800 12,800 10,069 2,731
NET CHANGE IN FUND BALANCE - - 4,335 4,335
FUND BALANCE - BEGINNING 37,982 37,982 37,982 -
FUND BALANCE - ENDING $ 37,982 $ 37,982 $ 42,317 $ 4,335
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, 2023
Variance
Original Actual Favorable
Final Budget
116
REVENUES
Intergovernmental $25,000 $25,000 $-$ (25,000)
Miscellaneous (5,146)
Total Revenues 65,000 65,000 34,854 (30,146)
EXPENDITURES
176,595
DEFICIENCY OF REVENUES
UNDER EXPENDITURES (223,000) (223,000) (76,551) 146,449
OTHER FINANCING SOURCE
Transfers In 250,000 250,000 250,000 -
NET CHANGE IN FUND BALANCE 27,000 27,000 173,449 146,449
FUND BALANCE - BEGINNING 15,694 15,694 15,694 -
FUND BALANCE - ENDING $ 42,694 $ 42,694 $ 189,143 $ 146,449
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, 2023
Variance
Original Actual Favorable
Final Budget
117
REVENUES
Charges for Services $$$$ 5,475
EXPENDITURES
Current:
Culture and Recreation 18,257
Capital Outlay - - 3,491,568 (3,491,568)
Total Expenditures 20,000 20,000 3,493,311 (3,473,311)
NET CHANGE IN FUND BALANCE (20,000) (20,000) (3,487,836) (3,467,836)
FUND BALANCE - BEGINNING 1,994,570 1,994,570 1,994,570 -
FUND BALANCE (DEFICIT) - ENDING $ 1,974,570 $ 1,974,570 $ (1,493,266) $ (3,467,836)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Park Improvement and Acquisition
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
118
REVENUES
Investment Earnings (Loss)$- $- $(3,815) $(3,815)
EXPENDITURES
Current:
Culture and Recreation $34,800 $35,488 $34,004 $1,484
Capital Outlay - - 1,400 (1,400)
Total Expenditures 34,800 35,488 35,404 84
NET CHANGE IN FUND BALANCE (34,800) (35,488) (39,219) (3,731)
FUND BALANCE (DEFICIT) - BEGINNING (91,631) (91,631) (91,631) -
FUND BALANCE (DEFICIT) - ENDING $(126,431)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Variance
Original Actual Favorable
Final Budget
REVENUES
Investment Income $$$$ 18,517
Miscellaneous 34,716
Total Revenues 85,000 85,000 138,233 53,233
EXPENDITURES
5,741
Capital Outlay 300,000 300,000 58,532 241,468
Total Expenditures 321,000 321,000 73,791 247,209
NET CHANGE IN FUND BALANCE (236,000) (236,000) 64,442 300,442
FUND BALANCE - BEGINNING 481,866 481,866 481,866 -
FUND BALANCE - ENDING $ 245,866 $ 245,866 $ 546,308 $ 300,442
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, 2023
Variance
Original Actual Favorable
Final Budget
120
EXPENDITURES
Debt Service:
Principal $5,000 $5,000 $5,000 $-
Interest and Fiscal Charges 600 600 562 38
Total Expenditures 5,600 5,600 5,562 38
NET CHANGE IN FUND BALANCE (5,600) (5,600) (5,562) 38
FUND BALANCE - BEGINNING 34,526 34,526 34,526 -
FUND BALANCE - ENDING $ 28,926 $ 28,926 $ 28,964 $38
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, 2023
Variance
Original Actual Favorable
Final Budget
121
REVENUES
Taxes $134,100 $134,100 $145,879 $ 11,779
Intergovernmental 1,600 1,600 1,953 353
Total Revenues 135,700 135,700 147,832 12,132
EXPENDITURES
(6,009)
NET CHANGE IN FUND BALANCE 5,500 5,500 11,623 6,123
FUND BALANCE - BEGINNING 796,125 796,125 796,125 -
FUND BALANCE - ENDING $ 801,625 $ 801,625 $ 807,748 $ 6,123
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, 2023
Variance
Original Actual Favorable
Final Budget
122
REVENUES
Taxes $290,100 $290,100 $323,874 $ 33,774
Intergovernmental 9,100 9,100 10,112 1,012
Total Revenues 299,200 299,200 333,986 34,786
EXPENDITURES
639
Debt Service:
Principal 245,000 245,000 245,000 -
Interest and Fiscal Charges 10,200 10,200 10,172 28
Total Expenditures 257,400 257,400 256,733 667
NET CHANGE IN FUND BALANCE 41,800 41,800 77,253 35,453
FUND BALANCE (DEFICIT) - BEGINNING (664,443) (664,443) (664,443) -
FUND BALANCE (DEFICIT) - ENDING $ (622,643) $ (622,643) $ (587,190) $ 35,453
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, 2023
Variance
Original Actual Favorable
Final Budget
123
REVENUES
Taxes $547,200 $547,200 $257,970 $ (289,230)
Intergovernmental - - 112 112
Total Revenues 547,200 547,200 258,082 (289,118)
EXPENDITURES
Current:
314,817
Debt Service:
Principal 60,000 60,000 60,000 -
Interest and Fiscal Charges 1,400 1,400 1,410 (10)
Capital Outlay - - 326,579 (326,579)
Total Expenditures 381,600 381,600 393,372 (11,772)
NET CHANGE IN FUND BALANCE 165,600 165,600 (135,290) (300,890)
FUND BALANCE - BEGINNING 1,174,551 1,174,551 1,174,551 -
FUND BALANCE - ENDING $ 1,340,151 $ 1,340,151 $ 1,039,261 $ (300,890)
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, 2023
Variance
Original Actual Favorable
Final Budget
124
REVENUES
Taxes $209,800 $209,800 $215,531 $ 5,731
Intergovernmental 1,000 1,000 47,574 46,574
Total Revenues 210,800 210,800 263,105 52,305
EXPENDITURES
(6,011)
NET CHANGE IN FUND BALANCE 80,600 80,600 126,894 46,294
FUND BALANCE - BEGINNING 2,958,752 2,958,752 2,958,752 -
FUND BALANCE - ENDING $ 3,039,352 $ 3,039,352 $ 3,085,646 $ 46,294
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, 2023
Variance
Original Actual Favorable
Final Budget
125
REVENUES
Taxes $138,900 $138,900 $146,786 $ 7,886
Intergovernmental - - 564 564
Total Revenues 138,900 138,900 147,350 8,450
EXPENDITURES
50
NET CHANGE IN FUND BALANCE 138,700 138,700 147,200 8,500
FUND BALANCE - BEGINNING 492,230 492,230 492,230 -
FUND BALANCE - ENDING $ 630,930 $ 630,930 $ 639,430 $ 8,500
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, 2023
Variance
Original Actual Favorable
Final Budget
126
REVENUES
Taxes $291,900 $291,900 $311,330 $ 19,430
Intergovernmental 5,600 5,600 52,522 46,922
Total Revenues 297,500 297,500 363,852 66,352
EXPENDITURES
50
Debt Service:
Principal 285,000 285,000 285,000 -
Interest and Fiscal Charges 57,300 57,300 57,298 2
Total Expenditures 342,500 342,500 342,448 52
NET CHANGE IN FUND BALANCE (45,000) (45,000) 21,404 66,404
FUND BALANCE - BEGINNING 552,336 552,336 552,336 -
FUND BALANCE - ENDING $ 507,336 $ 507,336 $ 573,740 $ 66,404
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, 2023
Variance
Original Actual Favorable
Final Budget
127
REVENUES
Taxes $523,600 $523,600 $520,962 $ (2,638)
Intergovernmental 52,700 52,700 54,240 1,540
Total Revenues 576,300 576,300 575,202 (1,098)
EXPENDITURES
50
Debt Service:
Principal 40,000 40,000 40,000 -
Interest and Fiscal Charges 2,400 2,400 2,400 -
Total Expenditures 42,600 42,600 42,550 50
NET CHANGE IN FUND BALANCE 533,700 533,700 532,652 (1,048)
FUND BALANCE (DEFICIT) - BEGINNING (658,790) (658,790) (658,790) -
FUND BALANCE (DEFICIT) - ENDING $ (125,090) $ (125,090) $ (126,138) $ (1,048)
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, 2023
Variance
Original Actual Favorable
Final Budget
128
REVENUES
Taxes $256,900 $256,900 $261,136 $ 4,236
Intergovernmental 18,200 18,200 25,259 7,059
Total Revenues 275,100 275,100 286,395 11,295
EXPENDITURES
Current:
(2,747)
Debt Service:
Principal 30,000 30,000 30,000 -
Interest and Fiscal Charges 900 900 900 -
Total Expenditures 91,100 91,100 93,847 (2,747)
NET CHANGE IN FUND BALANCE 184,000 184,000 192,548 8,548
FUND BALANCE - BEGINNING 710,881 710,881 710,881 -
FUND BALANCE - ENDING $ 894,881 $ 894,881 $ 903,429 $ 8,548
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, 2023
Variance
Original Actual Favorable
Final Budget
129
REVENUES
Intergovernmental $- $- $1,049 $ 1,049
EXPENDITURES
Current:
(4,137)
Debt Service:
Principal 235,000 235,000 235,000 -
Interest and Fiscal Charges 54,900 54,900 54,838 62
Capital Outlay - 422,926 30,180 392,746
Total Expenditures 290,100 713,026 324,355 388,671
NET CHANGE IN FUND BALANCE (290,100) (713,026) (323,306) 389,720
FUND BALANCE - BEGINNING 3,084,405 3,084,405 3,084,405 -
FUND BALANCE - ENDING $ 2,794,305 $ 2,371,379 $ 2,761,099 $ 389,720
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, 2023
Variance
Original Actual Favorable
Final Budget
130
REVENUES
Taxes $472,900 $472,900 $435,498 $ (37,402)
Intergovernmental - - 485 485
Total Revenues 472,900 472,900 435,983 (36,917)
EXPENDITURES
Current:
71,554
Debt Service:
Principal 100,000 100,000 100,000 -
Interest and Fiscal Charges 23,000 23,000 22,949 51
Total Expenditures 273,200 273,200 201,595 71,605
NET CHANGE IN FUND BALANCE 199,700 199,700 234,388 34,688
FUND BALANCE - BEGINNING 306,113 306,113 306,113 -
FUND BALANCE - ENDING $ 505,813 $ 505,813 $ 540,501 $ 34,688
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 21 Fox River Corridor
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
131
REVENUES
Taxes $20,500 $20,500 $22,226 $ 1,726
EXPENDITURES
Current:
50
Debt Service:
Principal 493,600 493,600 493,559 41
Interest and Fiscal Charges 65,800 65,800 65,779 21
Total Expenditures 559,600 559,600 559,488 112
NET CHANGE IN FUND BALANCE (539,100) (539,100) (537,262) 1,838
FUND BALANCE (DEFICIT) - BEGINNING (2,158,780) (2,158,780) (2,158,780) -
FUND BALANCE (DEFICIT) - ENDING $ (2,697,880) $ (2,697,880) $ (2,696,042) $ 1,838
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, 2023
Variance
Original Actual Favorable
Final Budget
132
REVENUES
Taxes $242,000 $242,000 $5,840 $(236,160)
Intergovernmental - - 8,693 8,693
Total Revenues 242,000 242,000 14,533 (227,467)
EXPENDITURES
Conservation and Development 250,200 250,200 80,394 169,806
NET CHANGE IN FUND BALANCE (8,200) (8,200) (65,861) (57,661)
FUND BALANCE - BEGINNING 72,069 72,069 72,069 -
FUND BALANCE - ENDING $63,869 $63,869 $6,208 $(57,661)
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, 2023
Variance
Original Actual Favorable
Final Budget
133
REVENUES
Taxes $263,800 $263,800 $276,451 $ 12,651
Intergovernmental 4,300 4,300 7,674 3,374
Total Revenues 268,100 268,100 284,125 16,025
EXPENDITURES
(973,714)
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 267,900 267,900 (689,789) (957,689)
OTHER FINANCING SOURCE
Transfers In - - 2,300,000 2,300,000
NET CHANGE IN FUND BALANCE 267,900 267,900 1,610,211 1,342,311
FUND BALANCE (DEFICIT) - BEGINNING (1,748,148) (1,748,148) (1,748,148) -
FUND BALANCE (DEFICIT) - ENDING $ (1,480,248) $ (1,480,248) $ (137,937) $ 1,342,311
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, 2023
Variance
Original Actual Favorable
Final Budget
134
EXPENDITURES
Current:
$$$$50
Debt Service:
Principal 401,500 401,500 401,488 12
Interest and Fiscal Charges 11,000 11,000 11,041 (41)
Total Expenditures 412,700 412,700 412,679 21
NET CHANGE IN FUND BALANCE (412,700) (412,700) (412,679) 21
FUND BALANCE (DEFICIT) - BEGINNING (3,190,245) (3,190,245) (3,190,245) -
FUND BALANCE (DEFICIT) - ENDING $ (3,602,945) $ (3,602,945) $ (3,602,924) $21
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, 2023
Variance
Original Actual Favorable
Final Budget
135
REVENUES
Taxes $220,300 $220,300 $303,707 $ 83,407
Intergovernmental 26,700 26,700 55,745 29,045
Total Revenues 247,000 247,000 359,452 112,452
EXPENDITURES
23,050
NET CHANGE IN FUND BALANCE 223,800 223,800 359,302 135,502
FUND BALANCE (DEFICIT) - BEGINNING (1,266,595) (1,266,595) (1,266,595) -
FUND BALANCE (DEFICIT) - ENDING $ (1,042,795) $ (1,042,795) $ (907,293) $ 135,502
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, 2023
Variance
Original Actual Favorable
Final Budget
136
REVENUES
Taxes $51,100 $51,100 $12,874 $(38,226)
EXPENDITURES
Conservation and Development 50,200 50,200 150 50,050
NET CHANGE IN FUND BALANCE 900 900 12,724 11,824
FUND BALANCE - BEGINNING 22,218 22,218 22,218 -
FUND BALANCE - ENDING $23,118 $23,118 $34,942 $11,824
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, 2023
Variance
Original Actual Favorable
Final Budget
137
REVENUES
Taxes $9,500 $9,500 $14,642 $ 5,142
EXPENDITURES
50
NET CHANGE IN FUND BALANCE 9,300 9,300 14,492 5,192
FUND BALANCE - BEGINNING 15,983 15,983 15,983 -
FUND BALANCE - ENDING $ 25,283 $ 25,283 $ 30,475 $ 5,192
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, 2023
Variance
Original Actual Favorable
Final Budget
138
REVENUES
Taxes $50,600 $50,600 $13,907 $(36,693)
EXPENDITURES
Conservation and Development 45,200 45,200 150 45,050
NET CHANGE IN FUND BALANCE 5,400 5,400 13,757 8,357
FUND BALANCE - BEGINNING 38,759 38,759 38,759 -
FUND BALANCE - ENDING $44,159 $44,159 $52,516 $8,357
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, 2023
Variance
Original Actual Favorable
Final Budget
139
REVENUES
Taxes 523,200 523,200 53,316 (469,884)
EXPENDITURES
Principal 9,000 9,000 17,563 (8,563)
Interest and Fiscal Charges 4,300 4,300 8,944 (4,644)
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. 31 Buckstaff Redevelopment
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
140
REVENUES
Taxes $14,200 $14,200 $1,476 $ (12,724)
EXPENDITURES
17,050
NET CHANGE IN FUND BALANCE (3,000) (3,000) 1,326 4,326
FUND BALANCE - BEGINNING 3,911 3,911 3,911 -
FUND BALANCE - ENDING $ 911 $911 $ 5,237 $ 4,326
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, 2023
Variance
Original Actual Favorable
Final Budget
141
REVENUES
Taxes $292,400 $292,400 $77,806 $ (214,594)
EXPENDITURES
230,050
NET CHANGE IN FUND BALANCE 62,200 62,200 77,656 15,456
FUND BALANCE - BEGINNING 204,365 204,365 204,365 -
FUND BALANCE - ENDING $ 266,565 $ 266,565 $ 282,021 $ 15,456
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, 2023
Variance
Original Actual Favorable
Final Budget
142
REVENUES
Taxes $1,097,400 $1,097,400 $170 $ (1,097,230)
EXPENDITURES
1,097,450
NET CHANGE IN FUND BALANCE (200) (200) 20 220
FUND BALANCE (DEFICIT) - BEGINNING (52,841) (52,841) (52,841) -
FUND BALANCE (DEFICIT) - ENDING $ (53,041) $ (53,041) $ (52,821) $220
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, 2023
Variance
Original Actual Favorable
Final Budget
143
REVENUES
Taxes $307,400 307,400 624,273 316,873
EXPENDITURES
Capital Outlay - - 4,583 (4,583)
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. 35 Oshkosh Avenue Corridor
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
144
REVENUES
Taxes $122,200 $122,200 $20,524 $ (101,676)
EXPENDITURES
116,750
NET CHANGE IN FUND BALANCE 5,000 5,000 20,074 15,074
FUND BALANCE (DEFICIT) - BEGINNING (4,344) (4,344) (4,344) -
FUND BALANCE - ENDING $ 656 $656 $ 15,730 $ 15,074
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, 2023
Variance
Original Actual Favorable
Final Budget
145
REVENUES
Taxes $211,900 $211,900 $23,511 $(188,389)
EXPENDITURES
Conservation and Development 210,200 210,200 150 210,050
NET CHANGE IN FUND BALANCE 1,700 1,700 23,361 21,661
FUND BALANCE - BEGINNING 5,572 5,572 5,572 -
FUND BALANCE - ENDING $7,272 $7,272 $28,933 $21,661
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 37 Aviation Plaza
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
146
REVENUES
Taxes $4,100 $4,100 $10,034 $ 5,934
EXPENDITURES
50
NET CHANGE IN FUND BALANCE 3,900 3,900 9,884 5,984
FUND BALANCE (DEFICIT) - BEGINNING (9,246) (9,246) (9,246) -
FUND BALANCE (DEFICIT) - ENDING $ (5,346) $ (5,346) $ 638 $ 5,984
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, 2023
Variance
Original Actual Favorable
Final Budget
147
REVENUES
Taxes $11,600 $11,600 $24,169 $ 12,569
EXPENDITURES
NET CHANGE IN FUND BALANCE 11,400 11,400 24,019 12,619
FUND BALANCE - BEGINNING 15,348 15,348 15,348 -
FUND BALANCE - ENDING $ 26,748 $ 26,748 $ 39,367 $ 12,619
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, 2023
Variance
Original Actual Favorable
Final Budget
148
REVENUES
Taxes $- $- $- $-
EXPENDITURES
200 (3,766)
NET CHANGE IN FUND BALANCE (200) (200) (3,966) (3,766)
FUND BALANCE (DEFICIT) - BEGINNING (9,251) (9,251) (9,251) -
FUND BALANCE (DEFICIT) - ENDING $ (9,451) $ (9,451) $ (13,217) $ (3,766)
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, 2023
Variance
Original Actual Favorable
Final Budget
149
EXPENDITURES
Conservation and Development $$$$ 1,050
NET CHANGE IN FUND BALANCE (1,200) (1,200) (150) 1,050
FUND BALANCE (DEFICIT) - BEGINNING (10,779) (10,779) (10,779) -
FUND BALANCE (DEFICIT) - ENDING $ (11,979) $ (11,979) $ (10,929) $ 1,050
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 41 Smith School Redevelopment
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
150
EXPENDITURES
Conservation and Development $$$$ 5,050
NET CHANGE IN FUND BALANCE (5,200) (5,200) (150) 5,050
FUND BALANCE (DEFICIT) - BEGINNING (2,825) (2,825) (2,825) -
FUND BALANCE (DEFICIT) - ENDING $ (8,025) $ (8,025) $ (2,975) $ 5,050
Budget Final Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 42 Morgan Crossing
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
151
OPERATING REVENUES
Charges for Services 1,021,600 1,021,600 1,096,664 75,064
Other Operating Revenues 36,200 36,200 64,668 28,468
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING LOSS
NONOPERATING REVENUES (EXPENSE)
General Property Taxes 809,500 809,500 809,500 -
Gain on Disposal of Capital Assets 700 700 13,220 12,520
Nonoperating grants 4,028,900 4,028,900 5,989,697 1,960,797
Investment Earnings - - 55,416 55,416
Interest Expense (48,700) (48,700) (43,796) 4,904
Total Nonoperating Revenues (Expense)
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, 2023
Variance
Original Actual Favorable
Final Budget
152
OPERATING REVENUES
Charges for Services $17,881,500 17,881,500 17,307,349 (574,151)
Other Operating Revenues 145,000 145,000 202,629 57,629
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME
NONOPERATING REVENUES (EXPENSE)
Gain on Disposal of Capital Assets - - 23,643 23,643
Investment Earnings 159,500 159,500 1,219,347 1,059,847
Interest Expense (1,637,500) (1,637,500) (1,923,393) (285,893)
Total Nonoperating Revenues (Expense)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 1,819,000 1,126,717 5,159,558 4,032,841
TRANSFERS OUT (1,542,600) (1,542,600) (1,542,600)
CAPITAL CONTRIBUTIONS 57,900 57,900 9,485
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 - Water Utility
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
153
OPERATING REVENUES
Charges for Services 17,372,200 17,372,200 18,131,795 759,595
Other Operating Revenues 25,000 25,000 5,744 (19,256)
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME
NONOPERATING REVENUES (EXPENSES)
Nonoperating Expenses (15,200) (15,200) (3,215) 11,985
Gain on Disposal of Capital Assets - - 7,426 7,426
Investment Earnings 187,800 187,800 1,540,120 1,352,320
Interest Expense (2,550,300) (2,550,300) (3,038,056) (487,756)
Total Nonoperating Revenues (Expenses)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 2,526,650 2,254,747 5,050,456 2,795,709
CAPITAL CONTRIBUTIONS 378,500 378,500 -
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 - Sewer Utility
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
154
OPERATING REVENUES
Charges for Services $14,045,200 14,045,200 14,197,149 151,949
Other Operating Revenues 10,000 10,000 20,062 10,062
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME
NONOPERATING REVENUES (EXPENSES)
Gain on Disposal of Capital Assets - - 11,012 11,012
Nonoperating Grants - - 77,664 77,664
Investment Earnings (Loss)(590,200) (590,200) 1,591,067 2,181,267
Interest Expense (2,753,300) (2,753,300) (3,103,010) (349,710)
Total Nonoperating Revenues (Expenses)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 4,596,100 4,491,783 7,468,770 2,976,987
CAPITAL CONTRIBUTIONS 75,000 75,000 -
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 - Stormwater Utility
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
155
OPERATING REVENUES
Charges for Services 97,500 97,500 78,033 (19,467)
Fines, Forfeitures and Penalties 20,000 20,000 7,355 (12,645)
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING LOSS
NONOPERATING REVENUE (EXPENSE)
Investment Earnings - - 3,444 3,444
Interest Expense (2,100) (2,100) (2,064) 36
Total Nonoperating Revenue (Expense)
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, 2023
Variance
Original Actual Favorable
Final Budget
156
OPERATING REVENUES
Taxes 1,990,000 1,990,000 2,530,104 540,104
Other Operating Revenues 90,900 90,900 102,274 11,374
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME (LOSS)
NONOPERATING REVENUE (EXPENSE)
Investment Earnings - - 43,746 43,746
Interest Expense (47,800) (47,800) (50,653) (2,853)
Total Nonoperating Revenue (Expense)
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 - Oshkosh Convention Center
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
157
OPERATING REVENUES
Other Operating Revenues $- - 26,519 26,519
OPERATING EXPENSES
OPERATING INCOME (LOSS)
NONOPERATING REVENUE (EXPENSES)
Gain on Disposal of Capital Assets - - 500 500
Investment Earnings (Loss)- - (43,793) (43,793)
Interest Expense (5,300) (5,300) (5,212) 88
Total Nonoperating Revenue (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 - Industrial Park Land
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
158
OPERATING REVENUES
Charges for Services $1,195,170 $1,195,170 $1,287,060 $ 91,890
OPERATING EXPENSES
Operation and Maintenance (112,363)
OPERATING INCOME 116,770 116,770 96,297 (20,473)
NONOPERATING REVENUE
Investment Earnings - - 81,957 81,957
NET CHANGE IN NET POSITION 116,770 116,770 178,254 61,484
NET POSITION - BEGINNING 2,227,522 2,227,522 2,227,522 -
NET POSITION - ENDING $ 2,344,292 $ 2,344,292 $ 2,405,776 $ 61,484
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, 2023
Variance
Original Actual Favorable
Final Budget
159
OPERATING REVENUES
Charges for Services $11,380,400 11,380,400 11,793,790 413,390
Other Operating Revenues 400,000 400,000 1,502,352 1,102,352
Total Operating Revenues
OPERATING 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 - Health Insurance
For the Year Ended December 31, 2023
Variance
Original Actual Favorable
Final Budget
160
OPERATING REVENUES
Charges for Services $985,100 $985,100 $1,050,300 $ 65,200
OPERATING EXPENSES
Claims and Administration 60,533
NET CHANGE IN NET POSITION (14,500) (39,500) 86,233 125,733
NET POSITION - BEGINNING 556,280 556,280 556,280 -
NET POSITION - ENDING $ 541,780 $ 516,780 $ 642,513 $ 125,733
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, 2023
Variance
Original Actual Favorable
Final Budget
161
OPERATING REVENUES
Taxes $6,132,700 $6,132,700 $5,201,133 $ (931,567)
OPERATING EXPENSES
Operations and Maintenance (195,834)
NET CHANGE IN NET POSITION 156,700 132,370 (995,031) (1,127,401)
NET POSITION (DEFICIT) - BEGINNING (485,694) (485,694) (485,694) -
NET POSITION (DEFICIT) - ENDING $ (328,994) $ (353,324) $ (1,480,725) $ (1,127,401)
Budget Final Budget Amounts (Unfavorable)
Original Actual Favorable
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Field Operations
For the Year Ended December 31, 2023
Variance
162
STATISTICAL SECTION
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Governmental Activities
Net Investment in Capital Assets 99,716,458$ 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$
Restricted 33,040,924 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
Unrestricted 43,670,764 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
Total Governmental Activities Net Position 176,428,146$ 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$
Business-Type Activities
Net Investment in Capital Assets 199,594,366$ 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$
Restricted 23,721,241 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
Unrestricted 54,315,165 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
Total Business-Type Activities Net Position 277,630,772$ 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$
Primary government
Net Investment in Capital Assets 299,310,824$ 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$
Restricted 56,762,165 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
Unrestricted 97,985,929 166,138,020 134,310,840 109,429,697 114,269,871 105,780,241 107,050,832 60,321,520 54,188,787 32,306,001
Total Primary Government Net Position 454,058,918$ 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$
CITY OF OSHKOSH, WISCONSIN
Net Position
(accrual basis of accounting)
Last Ten Years
163
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Program Revenues
Governmental Activities:
Charges for Services:
General Government 909,707$ 923,138$ 1,129,474$ 936,771$ 1,602,025$ 1,579,036$ 1,600,030$ 1,438,721$ 1,558,511$ 1,510,767$
Public Safety 4,494,535 4,459,089 4,009,103 2,786,871 3,575,002 2,930,736 3,323,449 3,275,667 3,201,203 3,458,075
Public Works 6,455,208 9,916,311 8,324,516 3,999,812 4,770,871 4,194,483 4,351,816 4,318,592 3,865,108 4,266,651
Health and Human Services 66,308 71,324 82,116 97,715 150,266 158,010 128,185 197,444 171,211 152,046
Culture and recreation 868,648 834,057 1,076,121 471,878 1,038,940 1,331,976 991,340 1,328,326 1,457,930 1,524,330
Transportation - - - 35,254 46,162 49,406 32,311 74,052 38,197 17,020
Conservation and Development 943,952 1,029,342 1,069,686 1,222,951 1,238,017 1,910,581 1,948,213 1,160,765 1,795,886 1,579,807
Operating grants and contributions 3,716,565 4,613,635 2,464,359 7,723,599 7,296,173 7,382,098 5,548,647 5,931,258 6,414,312 4,992,789
Capital grants and contributions 1,576,661 1,081,183 2,843,820 1,336,243 2,574,279 5,997,060 6,321,824 2,731,515 3,898,785 4,408,415
Total Governmental Activities Program Revenues 19,031,584 22,928,079 20,999,195 18,611,094 22,291,735 25,533,386 24,245,815 20,456,340 22,401,143 21,909,900
Business-Type Activities:
Charges for Services:
Transit utility 1,161,332 1,101,039 791,695 880,008 1,116,993 995,725 895,265 1,153,149 974,398 1,032,597
Water utility 17,509,978 15,647,894 15,577,307 15,576,609 16,109,837 15,465,120 15,122,194 14,445,314 13,880,943 13,380,404
Sewer utility 18,137,539 16,454,733 15,797,270 15,248,469 15,192,344 14,560,093 13,530,955 12,601,254 11,505,240 11,753,286
Storm Water utility 14,217,211 13,116,252 12,358,285 11,599,453 10,753,050 9,986,323 9,254,565 8,762,387 8,008,241 7,232,454
Other 4,031,345 4,069,889 3,420,530 2,109,141 3,328,348 3,357,933 3,847,579 3,771,400 2,460,714 753,376
Operating grants and contributions 6,067,361 5,718,652 4,011,307 3,740,318 4,226,850 3,110,752 3,189,855 3,001,264 2,988,658 2,980,554
Capital grants and contributions 9,485 494,942 458,712 240,891 1,911,582 5,085,796 3,935,617 4,208,145 2,282,249 3,621,003
Total Business-Type Activities Program Revenues 61,134,251 56,603,401 52,415,106 49,394,889 52,639,004 52,561,742 49,776,030 47,942,913 42,100,443 40,753,674
Total Primary Government Program Revenues 80,165,835 79,531,480 73,414,301 68,005,983 74,930,739 78,095,128 74,021,845 68,399,253 64,501,586 62,663,574
Expenses
Governmental Activities:
General Government 10,163,970 4,988,993 5,875,221 6,861,389 7,206,740 6,994,718 7,136,366 7,798,046 6,877,632 6,676,357
Public Safety 36,115,129 27,051,801 26,527,572 26,973,652 31,705,030 28,413,351 29,348,673 27,967,136 27,496,737 25,326,105
Public Works 14,935,074 12,205,439 13,344,942 20,166,108 15,888,569 13,759,356 15,167,905 15,386,290 16,804,792 15,963,233
Health and Human Services 1,204,953 1,016,550 945,661 1,126,177 1,013,157 934,016 1,076,216 930,952 942,326 971,146
Culture and recreation 14,464,154 11,850,757 9,633,892 8,687,753 9,395,932 9,363,655 8,881,379 8,785,030 8,886,775 8,835,806
Transportation 940,189 19,684,630 691,401 756,552 1,081,675 712,193 1,038,006 1,092,783 731,434 670,784
Conservation and Development 9,021,225 11,049,663 10,158,963 7,894,395 8,690,720 2,398,993 6,364,471 14,892,738 8,546,791 6,929,143
Unclassified 571,916 487,363 819,412 1,169,374 875,692 1,149,873 1,310,095 662,548 858,234 658,374
Interest and Fiscal Charges 3,963,916 4,177,258 3,409,132 3,413,132 3,267,500 3,521,757 3,479,436 3,849,290 3,958,629 4,565,377
Total Governmental Activities Expenses 91,380,526 92,512,454 71,406,196 77,048,532 79,125,015 67,247,912 73,802,547 81,364,813 75,103,350 70,596,325
Business-Type Activities:
Transit utility 6,458,182 6,144,767 5,410,888 4,921,115 5,373,317 5,252,110 5,115,027 4,809,392 4,737,860 4,836,746
Water utility 13,482,273 12,067,282 12,757,074 11,472,772 11,119,434 10,863,872 10,466,239 10,892,066 10,564,852 10,616,162
Sewer utility 14,408,847 13,553,819 13,445,130 12,192,891 12,647,065 11,962,807 11,528,889 10,825,702 10,526,101 10,018,765
Storm Water utility 8,633,769 7,699,013 7,275,841 7,486,749 7,184,160 6,911,334 6,375,794 6,312,063 5,808,799 5,410,733
Other 3,629,929 3,243,540 2,661,447 2,371,469 2,951,779 3,075,088 3,454,550 3,350,343 2,331,609 2,152,755
Total Business-Type Activities Expenses 46,613,000 42,708,421 41,550,380 38,444,996 39,275,755 38,065,211 36,940,499 36,189,566 33,969,221 33,035,161
Total Primary Government Expenses 137,993,526 135,220,875 112,956,576 115,493,528 118,400,770 105,313,123 110,743,046 117,554,379 109,072,571 103,631,486
(accrual basis of accounting)
Last Ten Years
Changes in Net Position
CITY OF OSHKOSH, WISCONSIN
164
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Net (Expense)/Revenue
Governmental Activities (72,348,942)$ (69,584,375)$ (50,407,001)$ (58,437,438)$ (56,833,280)$ (41,714,526)$ (49,556,732)$ (60,908,473)$ (52,702,207)$ (48,686,425)$
Business-Type Activities 14,521,251 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
Total Primary Government Net Expense (57,827,691) (55,689,395) (39,542,275) (47,487,545) (43,470,031) (27,217,995) (36,721,201) (49,155,126) (44,570,985) (40,967,912)
General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property and Other Local Taxes Levied For:
General Purposes 31,643,600 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
Other Purposes 4,750,959 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
Debt Service 13,277,100 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
18,368,054 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
Investment Return 5,417,829 1,352,673 1,768,125 1,311,446 2,171,166 966,466 1,898,404 1,351,658 185,641 2,530,813
Gain (Loss) on Sale of Capital Assets 127,039 139,782 118,356 62,184 42,630 16,841 150,275 18,075 25,683 4,629
Miscellaneous 1,033,828 1,733,237 1,557,918 4,589,381 1,385,542 355,433 1,136,780 476,935 317,288 3,986,577
Transfers 1,542,600 1,542,600 1,058,000 1,832,618 3,002,182 1,371,400 964,509 985,255 988,173 987,191
Total Governmental Activities 76,161,009 73,173,120 69,499,437 64,892,711 62,405,917 60,841,985 60,562,731 55,950,043 54,251,011 59,617,054
Business-Type Activities:
General Purposes property taxes levied for 809,500 809,500 809,500 809,500 947,700 920,600 887,524 843,391 748,125 2,203,488
Investment Return 4,491,304 (380,123) 70,255 583,594 1,307,437 788,592 493,595 288,022 (13,041) 97,561
Gain (Loss) on Sale of Capital Assets 55,801 18,523 44,258 825,490 1,650 7,311 - 33,670 - -
Miscellaneous - - - 17,130 7,810 2,163,840 - - - -
Transfers (1,542,600) (1,542,600) (1,058,000) (1,832,618) (3,002,182) (1,371,400) (964,509) (985,255) (988,173) (987,191)
Total Business-Type Activities 3,814,005 (1,094,700) (133,987) 403,096 (737,585) 2,508,943 416,610 179,828 (253,089) 1,313,858
Total Primary Government 79,975,014 72,078,420 69,365,450 65,295,807 61,668,332 63,350,928 60,979,341 56,129,871 53,997,922 60,930,912
Change in Net Position
Governmental Activities 3,812,067 3,588,745 19,092,436 5,572,637 19,127,459 19,127,459 11,005,999 (4,958,430) 1,548,804 10,930,629
Business-Type Activities 18,335,256 12,800,280 10,730,739 12,625,664 17,005,474 17,005,474 13,252,141 11,933,175 7,878,133 9,032,371
Total Primary Government Change in Net Position 22,147,323$ 16,389,025$ 29,823,175$ 18,198,301$ 36,132,933$ 36,132,933$ 24,258,140$ 6,974,745$ 9,426,937$ 19,963,000$
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
165
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
FUND BALANCES
NONSPENDABLE
Inventories and prepaid items 319,608$ 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 Gifts 3,646,301 3,646,301
RESTRICTED
Construction of assets 12,464,418 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 1,551,959 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 7,662,340 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 9,866,830 8,850,505 12,200,095 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 8,894,271 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 339,607 80,018 712,583 9,035,291 49,180 161,205 - 1,835 - 44,977 91,977
Special purposes 17,293,623 13,864,016 8,951,201 - 5,508,363 - - - - - -
Construction of assets 27,402,762 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 17,822,646 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 (92,371) (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 (13,171,928) (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 94,000,066$ 107,400,153$ 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
12/31/2023
166
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Revenues
Taxes 49,671,659$ 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$
Special assessments 4,353,907 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
Intergovernmental 22,930,193 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
Licenses and permits 869,481 940,170 846,865 813,981 1,020,303 1,010,623 974,230 854,691 1,817,320 1,630,361
Fines and forfeits 580,432 573,152 604,003 555,420 904,250 763,489 799,480 697,837 732,845 718,839
Public charges for services 6,137,584 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
Intergovernmental charges for services 3,377,008 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
Miscellaneous 7,169,246 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
Total Revenues 95,089,510 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
Expenditures
Current
General government 7,521,449 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
Public safety 33,503,060 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
Public works 10,506,334 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
Transportation 940,189 717,540 691,401 753,027 749,739 719,561 5,385,542 897,614 462,691 502,391
Health and Human Services 1,107,916 1,027,238 975,653 979,569 948,483 938,160 5,212,069 7,287,928 7,937,333 7,943,881
Culture and recreation 11,437,326 10,972,175 9,106,795 7,685,510 8,066,415 7,670,084 1,631,738 677,920 692,914 678,097
Conservation and development 6,607,741 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
Unclassified 571,916 487,363 819,412 1,105,967 871,824 1,079,471 1,251,952 636,998 836,971 613,892
Debt service
Principal 14,294,902 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
Interest and fiscal charges 4,758,064 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
Capital outlay 25,689,308 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
Total Expenditures 116,938,205 106,035,614 102,485,415 97,726,276 96,274,724 88,509,048 87,612,397 115,189,096 92,723,933 97,033,169
Excess of Revenues Over (Under)
Expenditures (21,848,695) (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)
Other Financing Sources (Uses)
Long-term debt issued 6,325,000 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
Premium on debt issued 453,969 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 127,039 44,405 30,729 22,750 27,573 7,000 123,527 - (7,333,351) (8,878,405)
Transfers in 22,790,059 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
Transfers out (21,247,459) (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)
Total Other Financing Sources (Uses)8,448,608 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
Net Change in Fund Balance (13,400,087) 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
Fund Balances - January 1, as restated 107,400,153 85,547,359 75,167,527 73,376,543 61,968,886 52,263,708 44,005,326 52,954,373 55,879,392 55,451,773
Fund Balances - December 31 94,000,066$ 107,400,153$ 85,033,260$ 75,167,527$ 68,800,615$ 61,968,886$ 52,263,708$ 44,005,326$ 52,954,373$ 55,879,392$
Last Ten Fiscal Years
Changes in Fund Balances, Governmental Funds
CITY OF OSHKOSH, WISCONSIN
167
Fiscal
Year
Assessed
Value
Estimated Actual
Value Assessed
Estimated Actual
Value
Total Assessed
Value
Total Direct
Tax Rate
Estimated Actual
Value
Ratio of Total
Assessed to
Total Estimated
Actual Value
2023 3,948,025,600$ 5,163,896,557$ 74,165,900$ 97,006,725$ 4,022,191,500$ 12.5764 5,260,903,282$ 69.20
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
CITY OF OSHKOSH, WISCONSIN
Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
December 31, 2023
Real Property Personal Property
168
Fiscal
Year Operations Debt Total Total
2023 8.577$ 3.541$ 12.118$ 38.3% $ 13.112 41.4% $ 1.066 3.4% $ 5.345 16.9%- - 31.641
2022 8.600 3.518 12.118 38.9% 12.534 40.2% 1.072 3.4% 5.433 17.4%- - 31.156
2021 8.241 3.368 11.609 39.4% 11.350 38.5% 1.089 3.7% 5.407 18.4%- - 29.455
2020 8.178 2.964 11.142 40.3% 10.034 36.3% 1.117 4.0% 5.362 19.4%- - 27.655
2019 7.672 3.230 10.902 40.0%9.959 36.5%1.105 4.1%5.284 19.4%- - 27.251
2018 7.462 3.120 10.582 40.0%9.424 35.6%1.114 4.2%5.352 20.2%- - 26.472
2017 7.444 3.114 10.558 39.4%9.774 36.5%1.105 4.1%5.369 20.0%- - 26.806
2016 7.360 2.984 10.344 38.1%10.131 37.3%1.116 4.1%5.415 19.9%0.170 0.6%27.176
2015 6.949 2.838 9.787 37.5%9.579 36.7%1.116 4.3%5.429 20.8%0.169 0.6%26.080
2014 4.361 5.201 9.562 36.6%9.737 37.3%1.116 4.3%5.548 21.2%0.169 0.6%26.132
2013 4.151 5.130 9.281 35.5%9.154 35.0%1.973 7.5%5.567 21.3%0.170 0.7%26.145
2012 3.980 4.957 8.937 34.5%8.892 34.4%1.982 7.7%5.890 22.8%0.171 0.7%25.872
Fiscal
Year Operations Debt Total Total
2023 33,659,400$ 13,897,400$ 47,556,800$ 121,386,475$
2022 32,453,100 13,277,100 45,730,200 117,576,545
2021 31,159,000 12,733,500 43,892,500 111,372,003
2020 30,792,500 11,160,200 41,952,700 104,136,455
2019 28,666,800 12,070,600 40,737,400 101,823,772
2018 27,784,400 11,617,200 39,401,600 98,564,296
2017 26,695,100 11,166,600 37,861,700 96,128,841
2016 25,826,000 10,471,700 36,297,700 95,407,876
2015 24,343,600 9,943,100 34,286,700 91,406,804
2014 15,204,000 18,130,300 33,334,300 91,144,879
2013 14,326,700 17,704,300 32,031,000 90,287,704
2012 13,629,708 16,975,200 30,604,908 88,650,296
City of Oshkosh
CITY OF OSHKOSH, WISCONSIN
Property Tax Rates - Direct and Overlapping Governments
Last Ten Fiscal Years
December 31, 2023
City of Oshkosh
Oshkosh Area Public
Schools
Fox Valley Technical
College County of Winnebago State of Wisconsin
Tax Levies
Oshkosh Area Public
Schools
Fox Valley Technical
College County of Winnebago State of Wisconsin
42,916,637 4,119,695 20,443,171 -
37,784,007 4,207,547 20,192,201 -
37,213,146 4,128,654 19,744,572 -
35,089,846 4,146,909 19,925,941 -
35,051,183 3,962,683 19,253,275 -
35,551,348 3,915,834 19,002,146 640,848
33,555,438 3,910,234 19,019,113 635,319
33,943,225 3,890,900 19,340,255 636,199
31,595,334 6,808,053 19,215,346 637,971
30,451,103 6,786,290 20,169,459 638,536
49,582,957$ 4,033,674$ 20,213,044$ -$
47,298,940 4,046,395 20,501,010 -
169
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Oshkosh Corp 58,996,400$ 1.47%
Midwest Realty 57,665,700 1.43
Tom Rusch etal 56,016,100 1.39
Amcor 34,563,800 0.86
Dumke & Assoc 36,642,200 0.91
Bergstrom 40,007,700 0.99
Aurora Medical 29,392,700 0.73
Peter Frederiksen & assoc 20,704,200 0.51
Charles Perry 27,779,500 0.69
Pine Apartments 20,286,000 0.50
382,054,300$ 9.50%
Total Assessed Valuation 4,022,191,500$
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Midwest Realty 56,056,900$ 1.49
Dumke & Associates 64,259,400 1.71
Oshkosh Corporation 34,215,400 0.91
Tom Rusch etal 46,265,300 1.23
Curwood Bemis 30,451,600 0.81
BFO Factory Shoppes 32,090,900 0.85
Charles Perry 31,038,400 0.83
Dennis Schwab 31,602,500 0.84
Aurora Medical 27,091,600 0.72
Bergstrom 28,948,700 0.77
Westowne Shoppes 21,374,100 0.57
403,394,800$ 10.73%
Total Assessed Valuation 3,760,872,300$
(1) Assessed valuation based on the valuation of property for taxes collected in 2023 and 2014
respectively, and a review of the largest taxpayers for the City.
Source: City of Oshkosh Assessor's Office
City of Oshkosh, Wisconsin
Principal Taxpayers
12/31/2023 and 12/31/2013
December 31, 2023
December 31, 2014
170
County Percent of Total
Percent of Settlement Tax Collections
Total City City Tax for Delinquent Total Prior to
Fiscal Tax Tax Tax Collections Tax Tax Collections /
Year Year Levy (1)Collections To Tax Levy Collections Collections Adjustments
2023 2022 124,676,961$ 122,922,238$ 98.59%1,754,723$ 124,676,961$ 100.00%
2022 2021 117,679,566$ 116,047,705$ 98.61%1,631,861$ 117,679,566$ 100.00%
2021 2020 109,706,004$ 108,550,235$ 98.95%1,155,769$ 109,706,004$ 100.00%
2020 2019 106,327,240 104,348,347 98.14%1,978,892 106,327,239 100.00%
2019 2018 107,484,313 105,556,337 98.21%1,900,789 107,457,126 99.97%
2018 2017 108,736,133 106,675,604 98.11%2,009,132 108,684,736 99.95%
2017 2016 107,415,653 105,608,948 98.32%1,772,098 107,381,046 99.97%
2016 2015 102,914,568 100,963,917 98.10%1,872,639 102,836,556 99.92%
2015 2014 103,057,581 101,075,776 98.08%1,916,907 102,992,683 99.94%
2014 2013 103,008,897 100,896,914 97.95%2,074,659 102,971,573 99.96%
Sources: Winnebago County Treasurer and City of Oshkosh Department of Finance.
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.
(1) - Total Tax Levy represents the real estate tax levies for the City, overlapping districts, and personal property
171
Fiscal Year
General
Obligation debt
Compensated
absences
Unfunded
Pension
Liability
(WRS)
General
Obligation debt Revenue bonds
Compensate
d absences
Total Primary
Government
Debt
Percentage
of Personal
Income
Debt Per
Capita
2023 $ 119,340,738 3,503,331$ -$ 7,192,504$ 230,013,036$ 741,627$ $ 360,791,236 16.40% 5,532
2022 127,310,640 4,137,424 - 9,156,573 232,053,439 754,854 373,412,929 16.57% 5,589
2021 110,372,030 4,084,084 - 11,607,285 214,437,171 852,289 341,352,859 14.66% 5,049
2020 108,345,821 4,329,258 - 14,141,000 201,292,422 1,103,470 329,211,971 14.93% 4,884
2019 113,185,916 4,346,430 - 17,030,999 188,766,068 1,060,437 324,389,850 15.62% 4,827
2018 112,180,097 4,434,862 - 20,608,509 178,267,779 833,790 316,325,037 15.29% 4,725
2017 115,311,124 4,305,769 - 24,042,224 182,802,130 761,542 327,222,789 15.78% 4,911
2016 115,349,675 4,352,539 - 25,586,223 167,032,169 808,318 313,128,924 21.14% 4,693
2015 117,857,462 4,673,902 - 28,709,574 147,300,274 628,849 299,170,061 20.17% 4,511
2014 (1)115,817,334 3,524,291 - 32,145,618 128,416,837 698,782 280,602,862 19.12% 4,202
(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 $10,233,802 which was split between governmental and business-type activities.
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
CITY OF OSHKOSH, WISCONSIN
Outstanding Debt by Type
Last Ten Fiscal Years
December 31, 2023
Governmental Activities Business-Type Activities
172
Fiscal Year Population Equalized Value Debt Total
Ratio to Equalized
Value Per Capita
2023 65,216 5,812,158,000$ 126,533,242$ 2.18%1,940.22
2022 66,816 5,336,259,600 136,467,213 2.56%2,042.43
2021 67,610 4,821,112,500 121,979,315 2.53%1,804.16
2020 67,408 4,460,244,100 125,376,821 2.81%1,859.97
2019 67,201 4,211,595,500 130,216,915 3.09%1,937.72
2018 66,945 4,073,682,600 132,788,606 3.26%1,983.55
2017 66,636 3,858,285,700 136,799,914 3.55%2,052.94
2016 66,717 3,772,639,900 138,876,319 3.68%2,081.57
2015 66,327 3,743,645,000 145,410,531 3.88%2,192.33
2014 66,778 3,748,827,600 147,228,958 3.93%2,204.75
Long-Term Debt
CITY OF OSHKOSH, WISCONSIN
Ratios of Net General Bonded Debt Outstanding
Last Ten Fiscal Years
December 31, 2023
Net General
173
Percent Amount
Direct Debt:
City purpose 126,533,241$
Less Sanitary Sewer purpose (2,150,000)
Less Storm Water purpose (1,960,000)
Less Water Utility purpose (1,360,000)
Less TIF purpose (5,700,694)
Net City Purpose 115,362,548$ 100.0000%115,362,548$
Total Net Direct Debt 115,362,548
Overlapping Debt
Oshkosh Area Public School District 125,275,000 71.3900%89,433,823
Fox Valley Technical College 77,555,000 9.5120%7,377,044
Winnebago County 31,184,256 29.9700%9,345,922
Total Overlapping Debt 106,156,789
221,519,337$
CITY OF OSHKOSH, WISCONSIN
Direct and Overlapping Governmental Activities Debt
December 31, 2023
TOTAL DEBT
Applicable to City
Information of other taxing districts was obtained from their respective financial reports and/or departments.
174
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Equalized Value 5,812,158,000$ 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$
Debt limitation - 5% of equalized value 290,607,900 266,812,980 241,055,625 223,012,205 210,579,775 203,684,130 196,588,910 188,811,265 187,182,250 187,441,380
Debt applicable to limitation
Total outstanding general obligation debt 126,533,241 136,467,213 121,979,315 125,376,821 130,216,915 132,788,606 136,799,914 138,876,319 145,410,531 147,228,958
Less: Debt service fund - - - (124,348) (2,189,515) (1,092,465) (923,371) (760,004) (976,051) (1,536,834)
Less: Other funds available for debt retirement - - - - - - - - - -
Total debt applicable to limitation 126,533,241 136,467,213 121,979,315 125,252,473 128,027,400 131,696,141 135,876,543 138,116,315 144,434,480 145,692,124
Legal Debt Margin 164,074,659$ 130,345,768$ 119,076,310$ 97,759,732$ 82,552,375$ 71,987,989$ 60,712,367$ 50,694,950$ 42,747,770$ 41,749,256$
Total net debt applicable to the limit
as a percentage of debt limit 43.54%51.15%50.60%56.16%60.80%64.66%69.12%73.15%77.16%77.73%
% Of Change 8.918%10.685%8.091%5.904%3.385%3.609%4.119%0.870%-0.138%-0.278%
CITY OF OSHKOSH, WISCONSIN
Legal Debt Margin Information
Last Ten Fiscal Years
December 31, 2023
175
Fiscal
Year
Utility Service
Charges (1)
Less: Operating
Expenses (2)
Net Revenue
Available for Debt
Service Principal Interest
Revenue
Coverage
2023 $ 17,509,978 $ 11,664,289 5,845,689 4,363,902$ 1,739,495$ 0.958
2022 15,647,894 10,341,425 5,306,469 3,959,223 1,504,723$ 0.971
2021 15,577,307 10,912,613 4,664,694 7,612,440 1,585,488$ 0.507
2020 15,576,609 9,885,293 5,691,316 4,727,244 1,772,972 0.876
2019 16,448,335 9,419,938 7,028,397 5,229,516 749,342 1.176
2018 15,686,166 5,669,951 10,016,215 8,408,204 2,368,490 0.929
2017 15,067,303 5,255,171 9,812,132 5,003,204 1,539,625 1.500
2016 14,389,159 5,540,506 8,848,653 4,704,579 1,686,652 1.384
2015 13,744,880 5,559,101 8,185,779 3,807,638 1,441,970 1.559
2014 13,204,960 5,833,904 7,371,056 3,872,222 1,414,596 1.394
Fiscal
Year
Utility Service
Charges (1)
Less: Operating
Expenses (2)
Net Revenue
Available for Debt
Service Principal Interest
Revenue
Coverage
2023 $ 18,137,539 $ 11,548,285 6,589,254 5,081,502$ 2,958,718$ 0.820
2022 16,454,733 10,811,591 5,643,142 4,639,508 2,245,404 0.820
2021 15,797,270 10,630,652 5,166,618 4,332,811 2,169,445 0.795
2020 15,285,307 10,096,396 5,188,911 4,731,804 2,335,267 0.734
2019 15,650,007 10,379,389 5,270,618 2,812,195 1,726,734 1.161
2018 14,886,186 6,022,572 8,863,614 3,326,149 2,046,348 1.650
2017 13,701,370 5,860,337 7,841,033 2,793,423 1,476,428 1.836
2016 12,692,924 5,815,792 6,877,132 2,278,072 1,244,346 1.952
2015 11,432,847 5,814,421 5,618,426 1,797,902 962,202 2.036
2014 11,667,626 5,742,234 5,925,392 2,811,576 774,747 1.652
Fiscal
Year
Utility Service
Charges (1)
Less: Operating
Expenses (2)
Net Revenue
Available for Debt
Service Principal Interest
Revenue
Coverage
2023 $ 14,217,211 $ 5,309,765 8,907,446 5,180,000$ 2,995,569$ 1.090
2022 13,116,252 4,762,358 8,353,894 4,775,000 2,752,788 1.110
2021 12,358,285 4,685,069 7,673,216 4,370,000 2,705,145 1.085
2020 11,599,453 4,644,387 6,955,066 4,655,000 3,115,759 0.895
2019 11,264,326 4,609,441 6,654,885 3,540,000 2,624,038 1.080
2018 10,227,776 2,107,879 8,119,897 3,140,000 2,285,832 1.497
2017 9,366,215 2,051,219 7,314,996 2,770,000 1,953,735 1.549
2016 8,834,283 2,117,352 6,716,931 2,530,000 2,202,164 1.419
2015 7,992,624 1,941,371 6,051,253 2,120,000 1,854,819 1.522
2014 7,263,498 2,049,110 5,214,388 1,670,000 1,790,866 1.507
(1)
(2)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, 2023
Water Revenue Bonds
Debt Service
Sewer Revenue Bonds
Debt Service
Storm Water Revenue Bonds
Debt Service
Includes total operating revenues and investment income.
176
Total
Personal Per Capita Median School Unemployment
Year Population (1) Income (2) Income (3)Age (3)Enrollment (4)Rate (5)
2023 65,216 2,199,735,680 $33,730 34.2 10,689 2.8%
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%
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, 2023
177
2014
Percentage of Oshkosh
Total City Financial
Employees Employment Report
Manufacturing
Oshkosh Corporation 6,900 20.46%3,250
Amcor (all Oshkosh locations)3,969 11.77%2,265
Silver Star Brands Inc. / Miles Kimball Co.650 1.93%650
Hoffmaster, A Solo Cup Company,440 1.30%461
(Scott Worldwide Food Service)
Muza Metal Products 250 0.74%250
Lapham-Hickey Steel 256 0.76%256
Non-Manufacturing
Aurora Medical Center & Aurora Group 1,036 3.07%829
U S Bank (Firstar)1,144 3.39%1,081
4imprint (Nelson Marketing)819 2.43%541
Ascension Health 539 1.60%735
Oshkosh Community YMCA 200 0.59%200
Miravida Living 275 0.82%286
Wal-Mart 318 0.94%318
Clarity Care (Residential Care RCDD)420 1.25%402
United Parcel Service 200 0.59%200
Government
University of WI - Oshkosh 1,288 3.82%1,483
Oshkosh Area School District 1,290 3.82%1,388
Winnebago County 1,046 3.10%996
Winnebago Mental Health Institute 625 1.85%527
City of Oshkosh Full-Time 569 1.69%600
Oshkosh Correctional Institution 502 1.49%519
CESA6 200 0.59%200
Oshkosh's Labor Force Estimates **33,730
**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
2023
December 31, 2023
178
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
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 3.65 4.00 3.65 4.00 4.00 3.00 3.00 3.00 3.00
Human Resources 6.00 6.00 6.00 6.00 6.00 6.00 5.00 5.00 6.00 6.00
Clerk 3.00 3.00 4.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Finance 14.00 14.00 14.00 16.00 15.28 15.28 14.80 14.80 12.80 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 9.40 8.40 10.00 7.40 7.40 7.40 7.40 7.40 7.40 7.40
Facilities Maint. 8.00 6.00 6.00 5.80 5.80 5.80 5.80 5.80 5.80 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
Police 132.00 131.36 127.00 131.36 129.00 128.49 127.49 127.49 115.00 115.00
Fire 115.00 114.00 117.00 109.00 108.00 108.00 108.00 108.00 108.00 107.00
Public Works
Public Works Admin. 1.85 1.85 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Engineers 12.13 12.13 13.00 12.80 11.70 11.70 11.70 11.70 11.70 11.00
Streets 33.00 27.00 25.00 29.00 29.00 29.00 29.00 29.00 29.00 29.00
Central Garage 9.00 10.00 11.00 10.00 8.00 8.00 8.00 8.00 8.00 8.00
Garbage - - - - - - - - - 8.00
Parks
Parks 15.91 18.80 16.00 15.87 16.00 15.91 14.89 14.89 14.89 14.89
Forestry 5.00 4.28 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00
Community Development
Assessor 5.80 5.80 5.00 5.80 5.80 5.80 5.80 5.80 5.80 5.00
Economic Development 5.00 5.00 6.00 5.00 5.00 5.00 5.00 5.00 4.80 4.80
Planning 8.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 8.50 8.50
Inspection Services 8.25 8.25 8.25 7.74 7.62 7.62 7.50 7.50 7.50 7.50
Weights and Measures 1.00 1.00 1.00 1.30 1.50 1.50 1.50 1.50 - -
Healthy Neighborhood Initiative 0.75 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 2.00 2.54 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Administrative Services
Safety & Worker Compensation 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Special Revenue Funds
Parks
Cemetery 3.64 3.75 3.75 3.64 3.64 3.64 3.64 3.64 3.00 3.00
Senior Services 6.25 7.26 6.25 7.07 7.18 7.18 7.18 7.18 5.00 5.00
Parks Revenue Facilities 0.50 0.50 0.50 0.36 0.49 0.49 0.36 0.36 0.36 0.36
Public Works
Garbage 7.50 9.00 9.00 7.50 7.50 7.50 7.50 7.50 8.00
Recycling 4.50 5.00 5.00 4.50 4.50 4.50 4.50 4.50 5.00 5.00
Other
Library 38.80 38.80 38.50 39.30 38.65 38.65 37.68 37.68 38.58 40.25
Museum 11.55 12.55 12.00 12.55 11.00 11.00 11.43 11.43 10.00 10.00
Enterprise Funds
Convention Center 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 - -
Golf Course - - - - - - 2.00 2.00 2.00 2.00
Transit Utility 33.00 31.85 35.00 31.85 32.00 32.00 32.00 32.00 29.00 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 41.96 40.68 44.00 38.02 38.02 35.02 35.02 35.02 34.93 34.93
Sewer Utility 26.00 26.00 26.00 36.92 33.02 33.02 33.02 - 32.68 32.68
Storm Utility 11.46 14.00 14.00 14.17 14.17 10.86 10.85 10.85 10.50 10.50
Total Full-time Equivalent 599.90 598.20 602.00 600.48 588.15 581.24 577.94 544.92 555.24 551.81
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, 2023
179
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Police
Stations 1 1 1 1 1 1 1 1 1 1
Community Policing Offices 1 1 1 1 1 mobile 1 mobile 1 mobile 1 mobile I mobile I mobile
Patrol Units 31 30 30 30 30 30 29 29 28 28
Fire
Stations 6 6 6 6 6 6 6 6 6 6
Refuse Collection
Collection trucks 12 13 13 13 13 13 13 13 13 13
Other Public Works
Streets (miles)261.66 266.14 266.14 266.14 266.14 265.33 260.87 260.05 259.35 258.45
Street Lights 1,710 1,660 1,610 1,540 1,496 1,425 1,405 1,390 1,350 1,350
City traffic signals (intersections)66 66 68 68 68 68 68 68 67 62
Parks and Recreation
Acreage 417 417 417 417 416 415 448 445 440 440
Playgrounds 19 19 19 19 19 19 19 19 19 17
Baseball/softball diamonds 18 18 18 18 19 19 19 19 19 18
Water
Watermains (miles)299.16 298.32 298.37 300.00 300.00 299.04 297.41 313.00 296.09 295.66
Average Daily Pumpage (Million Gallons per day)5.871 5.890 6.211 5.810 5.960 5.980 5.95 5.790 6.170 6.849
Wastewater
Sanitary sewers (miles)265.9 267.7 267.4 267.3 266.51 266.03 266.08 266.50 266.21 266.35
Storm sewers (miles)276.5 275.8 274.4 272.7 270.97 260.35 255.02 256.70 251.97 246.69
Transit
Buses 16 16 16 16 16 16 16 16 16 17
Sources: various city departments
* Data Not Available
CITY OF OSHKOSH, WISCONSIN
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
December 31, 2023
180
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Police
Physical arrests 4,130 3,769 3,514 2,874 3,518 3,675 1,652 2,646 3,854 4,606
Traffic Enforcement Citations 4,858 5,104 4,501 3,539 6,564 7,077 8,207 7,175 4,720 7,799
Reportable Accidents 1,433 1,257 1,229 962 1,316 1,370 1,453 1,464 1,434 1,243
Fire
Emergency responses 9,106 8,840 8,121 8,872 7,480 8,678 7,283 8,591 8,018 8,087
Fire responses 147 119 125 1,180 104 124 132 113 130 107
Other 1,084 1,439 1,305 1,287 1,167 1,475 1,117 844 901
Refuse Collection
Refuse collected (average tons per day)56 56 57.82 57.02 53.74 52.83 52.94 51.85 50.42 49.86
Refuse collected total tons per year 14,528 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
Comingled recyclable containers (tons)0 - 4,421 4,353 4,262
Mixed paper and comingled recyclables (tons)3,851 3,977 4,193.96 4,293.35 4,177.21 4,257.00 4,327.65
Other Public Works
New street pavement (miles).09 1 0.25 0.00 0.21 0.33 - 1.01 0.00 0.00
Street resurfacing (miles)4.47 2 2.15 2.19 2.27 2.73 3.50 2.89 2.25 1.38
Inspection
Commercial construction - units 100 80 485 120 9 8 325 71 248 136
Commercial construction (thousands of dollars)11,349,548 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
Residential construction - units 24 74 96 63 35 30 39 25 27 21
Residential construction (thousands of dollars)5,525,778 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
Water
New construction (miles) .84 0 0 0 2.41 4.02 4.91 3.43 2.62 2.78
Water main leaks 35 56 75 68 78 110 87 68 77 124
Average number of residential customers 21,472 20,902 21,090 20,809 20,948 20,823 20,585 20,569 21,441 21,268
Average annual usage per residential customer, (gallons) 33,938 32,989 33,412 34,694 35,000 34,810 35,047 35,774 34,982 35,651
Transit
Total route miles 491,359 541,129 541,003 539,128 546,190 544,929 538,967 483,085 483,492 481,997
Passengers (includes paratransit)685,231 619,330 607,527 464,957 818,919 943,195 980,057 995,697 990,431 1,000,778
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, 2023
181
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
2023 Estimate 65,126
Year No. Value No. Value
2014 26 15,563,675 2,136 82,002,706
2015 38 20,396,717 1,974 67,144,205
2016 34 15,991,435 2,265 78,369,742
2017 46 19,201,000 2,544 106,623,646
2018 39 54,058,010 2,404 92,575,783
2019 35 8,136,285 2,292 69,950,560
2020 56 14,624,217 2,524 102,797,353
2021 72 13,690,614 2,572 123,989,823
2022 64 10,043,835 2,550 152,549,640
2023 22 5,325,778 2,331 120,975,628
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Water (3)24,352 24,352 23,538 23,573 23,832 23,832 23,955 23,790 23,979 24,544
Electric (4)44,369 42,612 38,893 39,862 39,902 39,984 39,898 40,017 40,525 40,739
Gas (4)33,028 32,226 30,077 30,229 30,312 30,394 30,249 30,323 30,569 30,759
(1) Source: U.S. Census Bureau / WI Dept. of Admin.
(2) Source: City of Oshkosh Inspections Department
(3) Source: WI Public Service Commission http://www.psc.wi.gov
(4) Source: Wisconsin Public Service Corporation businesscenter@wisconsinpublicservice.com
UTILITY CUSTOMERS AT YEAR END - CITY OF OSHKOSH
New Residential: Single, Family Total of All Permits
66,327
66,717
BUILDING PERMITS (2)
CITY OF OSHKOSH, WISCONSIN
December 31, 2023
66,778
POPULATION - CITY OF OSHKOSH (1)
ECONOMICS
182
YEAR TOTAL UNITS SINGLE FAMILY TWO FAMILY
MULTIPLE
FAMILY
2004 334 113 20 201
2005 138 63 32 43
2006 234 51 12 171
2007 238 58 2 178
2008 93 41 4 48
2009 46 14 4 28
2010 122 22 2 98
2011 141 12 2 127
2012 28 18 4 6
2013 53 23 0 30
2014 157 15 6 136
2015 275 17 10 248
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
2023 124 22 2 100
3,995 915 202 2,878
Source: City of Oshkosh Inspection Services Division
CITY OF OSHKOSH, WISCONSIN
NEW DWELLING UNITS CONSTRUCTED
2004-2023
183
First 1,000 CU FT $6.10 per 100 CU. FT.
Next 2,300 CU FT 5.80 per 100 CU. FT.
Next 63,300 CU FT 5.60 per 100 CU. FT.
Over 66,600 CU FT 5.05 per 100 CU. FT.
Meter Size Service
Public Fire
Protection Meter Size Service
Public Fire
Protection
5/8" & 3/4"9.94$ 4.07$ 4"86.00 102.00
1"15.00 10.50 6"145.00 204.00
1-1/4"21.00 16.00 8"211.00 326.00
1-1/2"25.00 21.00 10"299.00 488.00
2"40.00 33.00 12"386.00 651.00
3"59.00 61.00
Billings Usage (00's)
State of Wi Correctional Institute 153,727 780,941.09
Bemis/Curwood/Milprint 60,407 304,159.06
UWO Oshkosh 52,638 301,473.65
Pepsi Cola General Bottlers 48,794 235,039.68
Oshkosh Corp 30,998 163,166.37
City of Oshkosh 25,279 158,714.43
Midwest Realty Management 25,217 156,072.80
Hydrite Chemical 28,286 141,279.78
Drug Abuse Correction Inst 28,783 139,604.52
Winnebago Cty 18,800 112,025.85
Charge per 100 CU FT $6.60 $1.67
Unmetered Customers:
$45.25
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)
Minimum Monthly Charge
CITY OF OSHKOSH, WISCONSIN
UTILITY RATE INFORMATION
December 31, 2023
WATER UTILITY RATES
Monthly Volume Charge
100 Cubic Feet (CU FT) = 748 Gallons
184
Meter Size Charge Meter Size Charge
5/8" & 3/4"$12.12 4"$130.76
1"19.54 6"254.33
1-1/4"25.72 8"402.63
1-1/2"31.89 10"625.07
2"46.72 12"872.22
3"81.33
Billings Usage (00's)
Oshkosh Correctional Institute $ 149,362.00 781,021
City of Oshkosh 52,832.00 335,194
Bemis/Curwood/Milprint 43,449.00 308,683
UW Oshkosh 52,191.00 302,141
Winnebago Cty 39,263.00 252,025
Pepsi Cola General Bottlers 48,926.00 236,769
Oshkosh Corporation 30,966.00 163,228
Midwest Real Estate Dev 25,111.00 156,112
Hydrite Chemical Co 17,662.00 141,319
Drug Abuse Correction Ctr 28,783.00 139,604
Monthly Equivalent Runoff Unit (ERU)
Charge per ERU $19.81
Small Residential (Impervious area < 1,750 square feet)0.67 ERU
Average Residential (Impervious area > 1,750 1.00 ERU
but < 3,750 square Feet)
Large Residential (Impervious area > 3,750 square feet)1.33 ERU
Other (Square feet of impervious area/2,817)
No charge for undeveloped properties
Billings ERU'S
Winnebago County 712,031.16$ 3,041.31
Oshkosh Corporation 523,099.44 2,234.32
City of Oshkosh 372,046.08 1,589.13
State of Wisconsin 342,098.88 1,461.21
Oshkosh Area School District 316,586.04 1,352.24
UW Oshkosh 291,364.44 1,244.51
Bemis / Curwood / Milprint 245,430.96 1,048.31
EAA 170,966.52 730.25
Bergstrom Fox Valley 142,559.76 608.92
JPMBB 2015 C28 in WA WI Properties 95,632.20 408.48
Fixed Monthly Charge
Top Ten Users / Customers
STORM WATER UTILITY RATES
Top Ten Users / Customers
185
2020 Actuals 2021 Actuals 2022 Original 2022 Projected 2023 Adopted
Change from
2022 to 2023
% of
Change
Revenue
41 - PROPERTY TAX REVENUE (20,407,971.95)$ (22,332,992.66)$ (22,593,400.00)$ (22,233,500.00)$ (23,817,500.00)$ (1,224,100.00)$ 5.42%
42 - INTERGOV REVENUE (18,080,869.73) (16,822,254.55) (16,645,800.00) (16,741,200.00) (16,842,500.00) (196,700.00) 1.18%
43 - LICENSES AND PERMITS (814,122.90) (867,694.78) (976,100.00) (797,600.00) (822,000.00) 154,100.00 -15.79%
44 - FINES & FORFEITURES (554,834.79) (604,003.20) (862,000.00) (618,300.00) (864,300.00) (2,300.00) 0.27%
45 - CHARGES FOR SERVICES (3,159,982.59) (3,903,124.61) (2,766,300.00) (4,083,800.00) (4,310,900.00) (1,544,600.00) 55.84%
48 - INTERNAL SERV CHRG (3,674,602.36) (3,535,484.08) (3,371,400.00) (3,741,200.00) (2,814,900.00) 556,500.00 -16.51%
49 - MISC REVENUES (801,656.30) (878,831.96) (963,500.00) (806,700.00) (963,000.00) 500.00 -0.05%
52 - OTHER FINANCING (1,009,780.60) (1,000,000.00) (1,542,600.00) (1,000,000.00) (1,822,600.00) (280,000.00) 18.15%
53 - SALE-CAPITAL ASSETS (39,433.80) (118,355.72) (25,000.00) (45,000.00) (25,000.00) - 0.00%
Revenue Total (48,543,255.02) (50,062,741.56) (49,746,100.00) (50,067,300.00) (52,282,700.00) (2,536,600.00) 5.10%
Expense
61 - DIRECT LABOR 28,117,859.45 29,424,053.78 30,896,418.00 31,083,400.00 30,215,700.00 (680,718.00) -2.20%
62 - INDIRECT LABOR - - - 925,000.00 668,800.00 668,800.00 100.00%
63 - PAYROLL BENEFITS 9,457,855.30 10,025,198.13 10,567,964.00 10,970,600.00 10,645,500.00 77,536.00 0.73%
64 - CONTRACTUAL SERVICES 5,159,801.00 5,802,795.09 6,461,825.00 7,885,100.00 8,715,300.00 2,253,475.00 34.87%
65 - MATERIAL & SUPPLIES 2,149,481.00 1,876,308.79 1,651,673.00 1,554,100.00 1,496,900.00 (154,773.00) -9.37%
72 - CAPITAL OUTLAY 333,893.30 288,734.85 466,421.00 468,300.00 285,200.00 (181,221.00) -38.85%
74 - OTHER FINANCING USES 50,000.00 535,400.00 525,000.00 225,000.00 2,780,000.00 2,255,000.00 429.52%
Expense Total 45,268,890.05 47,952,490.64 50,569,301.00 51,921,700.00 54,807,400.00 4,238,099.00 8.38%
Grand Total (3,274,364.97) (2,110,250.92) 823,201.00 1,854,400.00 2,524,700.00 1,701,499.00 206.69%
2023 General Fund Revenue Budget by Function
CITY OF OSHKOSH, WISCONSIN
186
Function
2023
Adopted
2023
Revised 2023
Actuals
01 - GENERAL GOVERNMENT 7,176,900 7,364,044 7,449,473
61 - DIRECT LABOR 3,218,400 3,377,250 3,452,096
63 - PAYROLL BENEFITS 1,219,300 1,242,200 1,275,224
64 - CONTRACTUAL SERVICES 2,527,700 2,533,094 2,520,172
65 - MATERIAL & SUPPLIES 211,500 211,500 201,981
72 - CAPITAL OUTLAY - - -
74 - OTHER FINANCING USES - - -
02 - PUBLIC SAFETY 32,091,800 32,277,889 32,916,207
61 - DIRECT LABOR 21,230,000 21,313,600 21,323,101
63 - PAYROLL BENEFITS 7,878,900 7,901,500 8,413,095
64 - CONTRACTUAL SERVICES 2,339,500 2,339,500 2,582,735
65 - MATERIAL & SUPPLIES 396,200 476,089 386,015
72 - CAPITAL OUTLAY 247,200 247,200 211,260
03 - PUBLIC WORKS 4,761,300 4,495,833 4,271,888
61 - DIRECT LABOR 1,740,800 1,451,000 1,287,030
63 - PAYROLL BENEFITS 485,100 497,300 462,011
64 - CONTRACTUAL SERVICES 2,403,300 2,420,683 2,420,128
65 - MATERIAL & SUPPLIES 97,100 91,850 68,517
72 - CAPITAL OUTLAY 35,000 35,000 34,201
04 - TRANSPORTATION 880,600 910,600 914,404
61 - DIRECT LABOR 478,600 503,600 502,208
63 - PAYROLL BENEFITS 187,000 190,600 208,780
64 - CONTRACTUAL SERVICES 95,300 96,700 96,036
65 - MATERIAL & SUPPLIES 116,700 116,700 107,380
72 - CAPITAL OUTLAY 3,000 3,000 -
06 - CULTURE & RECREATION 2,588,100 2,699,865 2,650,951
61 - DIRECT LABOR 1,392,400 1,476,100 1,422,178
63 - PAYROLL BENEFITS 479,200 491,100 511,657
64 - CONTRACTUAL SERVICES 438,200 454,365 456,694
65 - MATERIAL & SUPPLIES 278,300 278,300 260,422
07 - CONSERVATION & DEVELOPMENT 2,153,800 2,199,012 1,894,776
61 - DIRECT LABOR 1,256,500 1,293,300 1,212,514
63 - PAYROLL BENEFITS 361,000 366,300 369,555
64 - CONTRACTUAL SERVICES 522,500 525,612 302,322
65 - MATERIAL & SUPPLIES 13,800 13,800 10,385
08 - UNCLASSIFIED 5,154,900 4,344,050 3,223,721
61 - DIRECT LABOR 1,274,000 463,150 428,580
62 - INDIRECT LABOR 668,800 668,800 -
63 - PAYROLL BENEFITS 35,000 35,000 23,083
64 - CONTRACTUAL SERVICES 388,800 388,800 44,086
65 - MATERIAL & SUPPLIES 8,300 8,300 7,972
72 - CAPITAL OUTLAY - - -
74 - OTHER FINANCING USES 2,780,000 2,780,000 2,720,000
40 - DEBT SERVICE 15,620,000 15,620,000 31,561,868
64 - CONTRACTUAL SERVICES 100 100 -
67 - DEBT SERVICE 15,619,900 15,619,900 15,561,368
74 - OTHER FINANCING USES - - 16,000,500
Grand Total 70,025,016 69,911,293 84,883,289
CITY OF OSHKOSH, WISCONSIN
2023 Operating Expenditure Budget by Function
187
PER $1,000 2023 2022 INCREASE
OF TAXES TAX RATE TAX RATE (DECREASE)
State 0.000% -$ -$ -$
County 16.650% 5.345 5.432 (0.087)
City Tax 39.180% 12.576 12.118 0.458
Area Schools 40.850% 13.112 12.534 0.578
Area Vocational 3.320% 1.067 1.072 (0.005)
100.000% 32.100 31.156 0.944
State Credit 2.335 1.729 0.606
29.765$ 29.427$ 0.338$
CITY OF OSHKOSH
2024 LEVY - 2023 TAX RATE
State
0.000%
County
16.650%
City Tax
39.180%
Area Schools
40.850%
Area Vocational
3.320%
188
2024 2023 INCREASE
SOURCE OF FUNDS AMOUNT PERCENT PERCENT (DECREASE)
GENERAL REVENUES 60,597,210 52.93%54.18%-1.25%
INTERGOV REVENUES 26,245,346 22.92%21.98%0.94%
LICENSES AND PERMITS 2,166,200 1.89%2.02%-0.13%
FINES & FORFEITURES 709,600 0.62%0.81%-0.19%
CHARGES FOR SERVICES 9,199,400 8.03%6.34%1.69%
PUBLIC LIBRARY 244,500 0.21%0.22%-0.01%
INTERNAL SERVICE CHARGES 7,105,957 6.21%8.19%-1.98%
MISC REVENUES 7,642,100 6.67%4.23%2.44%
OTHER FINANCING SOURCES 508,720 0.44%1.96%-1.52%
SALE OF CAPITAL ASSETS 75,800 0.07%0.07%0.00%
114,494,833$ 100.00%100.00%
CITY OF OSHKOSH, WISCONSIN
2024 BUDGET SOURCE OF FUNDS - REVEUNES
GENERAL REVENUES
53%
INTERGOV REVENUES
23%
LICENSES AND PERMITS
2%
FINES & FORFEITURES
1%
CHARGES FOR SERVICES
8%PUBLIC LIBRARY
<1%
INTERNAL SERVICE
CHARGES
6%
MISC REVENUES
7%
OTHER FINANCING
SOURCES
0%
SALE OF CAPITAL ASSETS
<1%
189
2024 2023 INCREASE
USE OF FUNDS AMOUNT PERCENT PERCENT (DECREASE)
01 - GENERAL GOVERNMENT 8,298,236$ 11.65%10.19%1.46%
02 - PUBLIC SAFETY 34,119,128 47.89%45.57%2.32%
03 - PUBLIC WORKS 5,394,724 7.57%6.76%0.81%
04 - TRANSPORTATION 1,012,056 1.42%1.25%0.17%
06 - CULTURE & RECREATION 3,329,075 4.67%3.67%1.00%
07 - CONSERVATION & DEVELOPMENT 2,086,685 2.93%3.06%-0.13%
08 - UNCLASSIFIED 2,361,183 3.31%7.32%-4.01%
40 - DEBT SERVICE 14,647,400 20.56%22.18%-1.62%
71,248,487 100.00%100.00%
CITY OF OSHKOSH, WISCONSIN
2024 BUDGET USE OF FUNDS - EXPENDITURES
01 - GENERAL
GOVERNMENT
11.65%
02 - PUBLIC SAFETY
47.89%03 - PUBLIC WORKS
7.57%
04 - TRANSPORTATION
1.42%
06 - CULTURE &
RECREATION
4.67%
07 - CONSERVATION &
DEVELOPMENT
2.93%
08 - UNCLASSIFIED
3.31%
40 - DEBT SERVICE
20.56%
190
AMOUNT PERCENT
61 - DIRECT LABOR 30,336,378$ 44.4503%
63 - PAYROLL BENEFITS 11,944,028 17.5010%
64 - CONTRACTUAL SERVICES 9,762,530 14.3045%
65 - MATERIAL & SUPPLIES 1,116,900 1.6365%
67 - DEBT SERVICE 14,647,400 21.4621%
72 - CAPITAL OUTLAY 440,600 0.6456%
74 - OTHER FINANCING USES 0 0.0000%
68,247,836$ 100.0000%
CITY OF OSHKOSH, WISCONSIN
2024 BUDGET - USE OF FUNDS BY FUNCTION
61 - DIRECT LABOR
44.45%
63 - PAYROLL
BENEFITS
17.50%
64 - CONTRACTUAL
SERVICES
14.30%
65 - MATERIAL &
SUPPLIES
1.64%
67 - DEBT SERVICE
21.46%
72 - CAPITAL
OUTLAY
0.65%74 - OTHER
FINANCING USES
0.00%
191
ADDITIONAL REPORT
192
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, 2023, 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 31, 2024.
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.
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.
193
To the City Council
City of Oshkosh, Wisconsin
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
KerberRose SC
Certified Public Accountants
Oshkosh, Wisconsin
July 31, 2024