HomeMy WebLinkAbout2016 Annual Report
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City of Bremerton
Comprehensive Annual Financial Report
For the Fiscal Year Ended December 31, 2016
Table of Contents
Page
Introductory Section
Organization Chart ....................................................................................................................................................................1
Directory ofOfficials ................................................................................................................................................................2
Financial Section
Independent Auditor’s Report .............................................................................................................................................4
Management’sDiscussion and Analysis ............................................................................................................................7
Basic Financial Statements:
Government-wide Financial Statements:
Statement of Net Position ..................................................................................................................................................20
Statementof Activities.......................................................................................................................................................21
Fund Financial Statements:
Balance Sheet – Governmental Funds................................................................................................................................22
Statement of Revenues, Expenditures, and Changes in Fund Balances –
Governmental Funds ...................................................................................................................................................23
Reconciliation of the Statement of Revenues, Expenditures, and Changes
In Fund Balances of Governmental Funds to the Statement of Activities ..................................................................24
Statementof Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual
General Fund .............................................................................................................................................................25
Statementof Net Position – Proprietary Funds ........................................................................................................................26
Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds ...................................................27
Statement of Cash Flows – Proprietary Funds ..........................................................................................................................28
Statement ofFiduciary Net Position – Fiduciary Funds ...........................................................................................................30
Notes to the Financial Statements .............................................................................................................................................31
Required Supplementary Information:
..........................66
LEOFF I Pension Benefits .......................................................................................................................
GASB 68 RSI…………....................................................................................................................................................67
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet – Nonmajor Governmental Funds ..................................................................................................76
CombiningStatement of Revenues, Expenditures and Changes in Fund Balances –Nonmajor Governmental Funds ...........79
Schedules of Revenue, Expenditures, and Changes in Fund Balances – Budget and Actual:
Special Revenue Funds .......................................................................................................................................................82
DebtService Funds .............................................................................................................................................................95
Capital Projects Funds .......................................................................................................................................................99
Table of Contents
Page
Combining Statement of Net Position – Internal Service Funds ............................................................................................105
CombiningStatement of Revenues, Expenses, and Changes in Fund Net Position – Internal Service Funds .......................106
CombiningStatement of Cash Flows – Internal Service Funds ..............................................................................................107
Combining Statement of Fiduciary Net Position-Agency Funds ............................................................................................109
Statistical Section
Financial Trends:
Table 1 – Net Position by Component ...................................................................................................................................110
Table2– Changes in Net Position .........................................................................................................................................111
Table 3 – Fund Balance of Government Funds ......................................................................................................................113
Table 4 – Changes in Fund Balances of Government Funds ..................................................................................................114
Revenue Capacity:
Table 5 – Assessed and Estimated Actual Value of Taxable Property ...................................................................................116
Table6– Governmental Activities Tax Revenues by Source ................................................................................................117
Table7– Property Tax Rates Direct and Overlapping Governments Last 10 Fiscal Years ...................................................118
Table 8 – Principal Property Taxpayers .................................................................................................................................119
Table 9 - Property Tax Levies and Collections ......................................................................................................................120
Debt Capacity
Table 10 – Ratio of Net General Bonded Debt .......................................................................................................................121
Table11 – Computation of Direct and Overlapping Debt ......................................................................................................122
Table12– Computation of Legal Debt Margin .....................................................................................................................123
Table 13 – Water and Sewer Revenue Bond Coverage ..........................................................................................................124
Demographic and Economic Information:
emographicStatistics........................................................................................................................................125
Table 14 – D
Table 15 – Miscellaneous Statistics…...................................................................................................................................126
1
/
Bremerton
of
SERVICES
City
FIRE - EMS
Fire SuppressionEmergency MedicalServicesFire Prevention
Audit
Committee
PARKS &
RECREATION
Parks Building& MaintenanceRecreation ProgramsCity FountainsGold Mountain GolfSenior Center& ProgramsParks CommissionSupportOne Percent for Art
CITY
COUNCIL
COMMUNITY
DEVELOPMENT
Land & Use PlanningBuilding InspectionsCode EnforcementEnvironmental ReviewOne-StopPermit CenterZoning Administration& EnforcementCDBG Home ProgramAnnexations
OFFICE
MAYOR'S
& UTILITIES
PUBLIC WORKS
EngineeringStreet Lighting &Road MaintenanceUtility Operations& MaintenanceFacility MaintenanceForestry ManagementWater SupplyWastewater TreatmentSurface WaterManagementConstruction
AdminEquipment RentalReserve & OperationsSurveying & MappingPermit CoordinationUtility Billing &Customer Service
CITIZENS OF BREMERTON
SERVICES
FINANCIAL
Records ManagementAdmin Support ServicesPublic Acess TVInformation TechnologyCity ClerkConference CenterOperatingB & O TaxBusiness &Regulatory LicensingDebt ManagementFiscal PolicyOversightCash
& BankManagementAccounting & BudgetAnimal ControlParking
JUDGE
MUNICIPAL COURT
POLICE
SERVICES
PatrolTrafficInvestigationCrime PreventionHome DetentionJail ContractPhoto EnforcementCommunity PolicingReserve OfficeProgramSpecial OperationsGroup
CITY
ATTORNEY
Council to CityCivil Legal ServicesProsecutionCivil LitigationRisk ManagementHuman Resources& Labor RelationsSafety Program
City of Bremerton / 2
Directory of Officials
2016
Elected Officials:
Mayor ................................................................................................................................. Patty Lent
District #1 Council Member ............................................................................................ Pat Sullivan
District #2 Council Member ........................................................................................... LeslieDaugs
District #3 Council Member ...................................................................................... Jerry McDonald
District #4 Council Member ......................................................................................... Greg Wheeler
District #5 Council Member ............................................................................................. Dino Davis
District #6 Council Member ........................................................................................ Richard Huddy
District #7 Council Member .......................................................................................... Eric Younger
Judge, Municipal Court ................................................................................................. James Docter
Appointed Officials:
City Attorney ............................................................................................................. Roger Lubovich
Director, Public Works and Utilities ............................................................................... Chal Martin
Fire Chief .............................................................................................................................. Al Duke
Police Chief ............................................................................................................... Steven Strachan
Director of Financial Services ..................................................................................... Cathy Johnson
Director of Community Development ....................................................................... Andrea Spencer
Director of Parks and Recreation ................................................................................... Jeff Elevado
City Auditor .................................................................................................................... Jenny Sims
City of Bremerton / 3
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City of Bremerton / 4
FINANCIALSTATEMENTS
City of Bremerton
Kitsap County
January 1, 2016 through December 31, 2016
Mayor and City Council
City of Bremerton
Bremerton, Washington
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the governmental activities, the
business-type activities, each major fund and the aggregate remaining fund informationoftheCity
of Bremerton, KitsapCounty, Washington, as of and for the year ended December 31, 2016, and
statements as listed on page 15.
Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of financial statements that are free from material misstatement,
whether due to fraud or error.
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditingstandards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued bythe Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
including the assessment of the risks of material misstatement of the financial statements, whether
____________________________________________________________________________________________________________________
Washington State Auditor's OfficePage 12
City of Bremerton / 5
due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the City
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the City
opinion. An audit also includes evaluating the appropriateness of accountingpolicies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects,
therespective financial positionof the governmental activities, the business-type activities, each
major fund and the aggregate remaining fund information of the City of Bremerton, as of
December 31, 2016, and therespective changes in financial position and, where applicable, cash
flows thereof, and the budgetary comparison for the General fund, for the yearthen ended in
accordance with accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
and required supplementary information listed on page 15
be presented to supplement the basic financial statements. Such information, although not a part
ofthe basic financial statements, isrequired 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
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.
____________________________________________________________________________________________________________________
Washington State Auditor's OfficePage 13
City of Bremerton / 6
Supplementary and Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise
Federal Awards is presented for purposes of additional analysis as required by Title 2 U.S. Code
of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards(Uniform Guidance).This schedule 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. 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 information is fairly stated, in all
material respects, in relation to the basic financial statements taken as a whole.
OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING
STANDARDS
In accordance with Government Auditing Standards, we have also issued our report dated
over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts and grant
agreements and other matters. The purpose of that report is to describe the scope of our testing of
internal control over financial reporting and compliance and the results of that testing, and not to
provide an opinion on internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standardsin
considering the internal control over financial reporting and compliance.
Pat McCarthy
State Auditor
Olympia, WA
September 25, 2017
____________________________________________________________________________________________________________________
Washington State Auditor's OfficePage 14
City of Bremerton / 7
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tubufnfout!boe!uif!hpwfsonfou.xjef!gjobodjbm!tubufnfout/!Uif!hpwfsonfoubm!gvoe!tubufnfout!gpdvt!po!ofbs.ufsn!
sfwfovft0gjobodjbm!sftpvsdft!boe!fyqfoejuvsft!xijmf!uif!hpwfsonfou.xjef!gjobodjbm!tubufnfout!jodmvef!cpui!ofbs.ufsn!
boe!mpoh.ufsn!sfwfovft0gjobodjbm!sftpvsdft!boe!fyqfotft/!Uif!jogpsnbujpo!jo!uif!hpwfsonfoubm!gvoe!tubufnfout!dbo!
cf!vtfe!up!fwbmvbuf!uif!Djuzt!ofbs.ufsn!gjobodjoh!sfrvjsfnfout!boe!jnnfejbuf!gjtdbm!ifbmui/!Dpnqbsjoh!uif!
hpwfsonfoubm!gvoe!tubufnfout!xjui!uif!hpwfsonfou.xjef!tubufnfout!dbo!ifmq!uif!sfbefs!cfuufs!voefstuboe!uif!mpoh.
ufsn!jnqbdu!pg!uif!Djuzt!dvssfou!zfbs!gjobodjoh!efdjtjpot/!Up!bttjtu!jo!uijt!dpnqbsjtpo-!sfdpodjmjbujpot!cfuxffo!uif!
hpwfsonfoubm!gvoe!tubufnfout!boe!uif!hpwfsonfou.xjef!gjobodjbm!tubufnfout!bsf!jodmvefe!xjui!uif!hpwfsonfoubm!gvoe!
cbmbodf!tiffu!boe!uif!hpwfsonfoubm!gvoe!tubufnfou!pg!sfwfovft-!fyqfoejuvsft-!boe!dibohft!jo!gvoe!cbmbodft/!
Uif!Djuz!nbjoubjofe!uxfouz.gpvs!)32*!joejwjevbm!hpwfsonfoubm!gvoet!jo!3127/!!Uif!Djuzt!Hfofsbm!gvoe!jt!qsftfoufe!
tfqbsbufmz!jo!uif!hpwfsonfoubm!gvoe!cbmbodf!tiffu!boe!uif!hpwfsonfoubm!gvoe!tubufnfou!pg!sfwfovft-!fyqfoejuvsft-!
boe!dibohft!jo!gvoe!cbmbodft/!!Uif!sfnbjojoh!hpwfsonfoubm!gvoet!bsf!dpncjofe!joup!b!tjohmf!dpmvno!mbcfmfe!Puifs!
Hpwfsonfoubm!Gvoet/!!Jogpsnbujpo!gps!fbdi!pg!uif!opo.nbkps!hpwfsonfoubm!gvoet!jt!qspwjefe!jo!uif!dpncjojoh!
tubufnfout!jo!uijt!sfqpsu/!
City of Bremerton / 9
Uif!Djuz!nbjoubjot!cvehfubsz!dpouspm!pwfs!jut!pqfsbujoh!gvoet!uispvhi!uif!bepqujpo!pg!bo!boovbm!cvehfu/!!Cvehfut!bsf!
bepqufe!bu!uif!efqbsunfou!boe!dbufhpsz!hspvq!mfwfm!cz!gvoe!jo!bddpsebodf!xjui!Djuz!dpef!boe!tubuf!mbx/!!B!cvehfubsz!
dpnqbsjtpo!tubufnfou!gps!nbkps!hpwfsonfoubm!gvoet!jt!qsftfoufe!xjui!uif!cbtjd!gjobodjbm!tubufnfout/!!Cvehfubsz!
dpnqbsjtpo!tubufnfout!gps!puifs!hpwfsonfoubm!gvoet!bsf!jodmvefe!xjui!uif!dpncjojoh!tubufnfout/!
Qspqsjfubsz!gvoet!bsf!vtfe!cz!hpwfsonfout!up!bddpvou!gps!uifjs!cvtjoftt.uzqf!bdujwjujft/!!Cvtjoftt.uzqf!bdujwjujft!
qspwjef!tqfdjgjd!hppet!ps!tfswjdft!up!b!hspvq!pg!dvtupnfst!uibu!bsf!qbje!gps!cz!gfft!dibshfe!up!uiptf!dvtupnfst/!!Uifsf!
jt!b!ejsfdu!sfmbujpotijq!cfuxffo!uif!gfft!qbje!boe!uif!tfswjdft!sfdfjwfe/!
Uif!Djuz!ibt!uxp!uzqft!pg!qspqsjfubsz!gvoet;!foufsqsjtf!gvoet!boe!joufsobm!tfswjdf!gvoet/!!Foufsqsjtf!gvoet!bsf!vtfe!up!
bddpvou!gps!hppet!boe!tfswjdft!qspwjefe!up!djuj{fot/!!Joufsobm!tfswjdf!gvoet!bsf!vtfe!up!bddpvou!gps!hppet!boe!tfswjdft!
qspwjefe!joufsobmmz!up!wbsjpvt!Djuz!efqbsunfout/!
Uif!Djuzt!gpvs!)5*!foufsqsjtf!gvoet!bsf!vtfe!up!sfqpsu!uif!tbnf!gvodujpot!qsftfoufe!bt!cvtjoftt.uzqf!bdujwjujft!jo!uif!
hpwfsonfou.xjef!tubufnfout!xjui!uif!gvoe!tubufnfout!qspwjejoh!npsf!efubjm!uibo!jt!sfqpsufe!jo!uif!hpwfsonfou.xjef!
tubufnfout/!!Uif!foufsqsjtf!gvoe!tubufnfout!qspwjef!tfqbsbuf!jogpsnbujpo!gps!uif!Djuzt!nvojdjqbm!hpmg!dpvstf-!xbufs-!
xbtufxbufs!boe!tupsnxbufs!vujmjujft/!!Uif!pomz!puifs!sfnbjojoh!foufsqsjtf!gvoe!jt!tupsnxbufs!vujmjuz!boe!ju!jt!sfqpsufe!
jo!b!tjohmf!dpmvno!mbcfmfe!Tupsnxbufs/!
Joufsobm!tfswjdf!gvoet!bsf!bo!bddpvoujoh!efwjdf!vtfe!up!bddvnvmbuf!boe!bmmpdbuf!dptut!joufsobmmz!bnpoh!uif!Djuzt!
wbsjpvt!gvodujpot/!Uif!Djuz!vtft!joufsobm!tfswjdf!gvoet!up!bddpvou!gps!nbjoufobodf!boe!bdrvjtjujpo!pg!jut!gmffu!pg!
wfijdmft-!tfmg.jotvsfe!jotvsbodf!qsphsbnt!boe!dmbjnt-!vofnqmpznfou!jotvsbodf!pcmjhbujpot-!ufsnjobujpo!cfofgjut!bt!
xfmm!bt!jogpsnbujpo!ufdiopmphz!tfswjdft/!Joufsobm!tfswjdf!gvoet!cfofgju!cpui!hpwfsonfoubm!boe!cvtjoftt.uzqf!bdujwjujft!
boe!bsf!bmmpdbufe!bddpsejohmz!jo!uif!hpwfsonfou.xjef!tubufnfou!pg!bdujwjujft/!!!
Gjevdjbsz!gvoet!bddpvou!gps!bttfut!ifme!cz!uif!Djuz!jo!b!usvtuff!dbqbdjuz!ps!bt!bo!bhfou!gps!joejwjevbmt-!qsjwbuf!
pshboj{bujpot-!puifs!hpwfsonfout-!ps!puifs!gvoet/!Gjevdjbsz!gvoet!bsf!opu!jodmvefe!jo!uif!hpwfsonfou.xjef!gjobodjbm!
tubufnfout!cfdbvtf!uifjs!bttfut!bsf!opu!bwbjmbcmf!up!tvqqpsu!uif!Djuzt!bdujwjujft/!
Uif!Djuz!ibt!pof!uzqf!pg!gjevdjbsz!gvoe!!bhfodz!gvoet/!!Bhfodz!gvoet!bsf!dvtupejbm!jo!obuvsf!boe!ep!opu!jodmvef!
sfwfovft!boe!fyqfotft!bt!uifz!ep!opu!nfbtvsf!uif!sftvmut!pg!pqfsbujpot/!!!
Hpwfsonfou.xjef!Gjobodjbm!Bobmztjt!
Tubufnfou!pg!ofu!qptjujpo!
Uif!tubufnfou!pg!ofu!qptjujpo!dbo!tfswf!bt!b!vtfgvm!joejdbups!pg!uif!Djuzt!gjobodjbm!qptjujpo/!!Uif!Djuzt!ofu!qptjujpo!
bu!Efdfncfs!42-!3127!upubmfe!%382!njmmjpo/!!Gpmmpxjoh!jt!b!dpoefotfe!wfstjpo!pg!uif!hpwfsonfou.xjef!tubufnfou!pg!
ofu!qptjujpo/!!Uif!Djuz!qsftfout!jut!gjobodjbm!tubufnfout!jo!dpnqmjbodf!xjui!Hpwfsonfoubm!Bddpvoujoh!Tuboebset!
Cpbse!Tubufnfou!Op/!45!)HBTC!45*-!Cbtjd!Gjobodjbm!Tubufnfout!!boe!Nbobhfnfout!Ejtdvttjpo!boe!Bobmztjt!!gps!
Tubuf!boe!Mpdbm!Hpwfsonfout/!!Uxp!zfbst!pg!gjobodjbm!jogpsnbujpo!jo!uif!HBTC!45!gpsnbu!bsf!qsftfoufe/!!!!!
City of Bremerton / 10
Ofu!Qptjujpo!
Hpwfsonfoubm!Bdujwjujft
Bnpvout!jo!111(tCvtjoftt.Uzqf!BdujwjujftUpubm
31273126Ejggfsfodf31273126Ejggfsfodf31273126Ejggfsfodf
Dvssfou!Bttfut%!!!3!1-:78%!!!2!8-225%!!!!4!-964%!!!!!!48-817%!!!3!8-359%!!!!2!1-569%!!!6!9-784%!!!5!5-473%!!!!2!5-422
Sftusjdufe!Bttfut!!8!-987!!9!-742)866*!3-162!!2!-834!!4!39!!:!-:38!!2!1-465!!)538*
Dbqjubm!Bttfut!!2!24-869!!2!26-37:)2622*!!!!!!288-348!!2!87-784!!6!75!!3!:1-::6!!3!:2-:53!!):58*
Puifs!Opodvssfou!Bttfut!!5!-112!!7!-314)3313*!!!!!!!!!!!!!!.!4!82!)482*!5!-112!!7!-685!!)3-684*
!!Upubm!bttfut!!2!57-713!!2!58-328!)726*!327-::5!!3!17-126!!2!1-:8:!!4!74-6:7!!4!64-343!!2!1-475
Efgfssfe!pvugmpxt!pg!sftpvsdft!!4!-974!!3!-596!!2!-489!!:24!!7!37!!3!98!!5!-887!!4!-222!!2!-776
Dvssfou!Mjbcjmjujft!!3!-78:!!4!-439!)75:*!2-:16!!2!-777!!3!4:!!5!-695!!5!-::5!!)521*
Qbzbcmf!gspn!Sftusjdufe!Bttfut!!.!!.!..!!.!!.!!.!!!.!!!.
Opodvssfou!Mjbcjmjujft!!5!:-587!!5!9-8:4!7!94!!!!!!!!53-773!!4!6-299!!8!-585!!:!3-249!!9!4-:92!!9!-268
!!Upubm!mjbcjmjujft!!6!3-266!!6!3-232!!4!5!!55-678!!4!7-965!!8!-824!!:!7-833!!9!9-:86!!8!-858
Efgfssfe!jogmpxt!pg!sftpvsdft!!4!26!!3!-855!!)3-53:*!!284!!7!67!)594*!5!99!!4!-511!!)3-:23*
Ofu!qptjujpo
!!Ofu!Jowftunfou!jo!Dbqjubm!Bttfut!!9!3-4:4!!9!3-321!!2!94!!258-:42!!2!58-182!!9!71!!3!41-435!!3!3:-392!!2!-154
!!Sftusjdufe!!8!-987!!9!-73:!)864*!:-862!!3!-312!!8!-661!!2!8-738!!2!1-941!!7!-8:8
!!Vosftusjdufe!!8!-837!!4!-::9!4!-839!!!!!!!!26-596!!2!:-96:!!)5-485*!!3!4-322!!3!4-968!!)757*
!!Upubm!Ofu!Qptjujpo%!!!:!8-::6%!!!:!5-948%!!!!4!-269%!!!!284-278%!2!7:-242%!!!!5!-147%!3!82-273%!3!74-:79%!!!!8!-2:5
Uif!mbshftu!dpnqpofou!pg!uif!Djuzt!ofu!qptjujpo-!%344!njmmjpo!)ps!97&*-!jt!jut!jowftunfou!jo!dbqjubm!bttfut!mftt!boz!
sfmbufe!pvutuboejoh!efcu!jttvfe!up!bdrvjsf!uiptf!bttfut/!Uiftf!dbqjubm!bttfut-!tvdi!bt!vujmjuz!qmbou-!tusffut-!usbjmt-!qbslt-!
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tfmm!boe!dpowfsu!up!dbti!gps!gvuvsf!tqfoejoh/!Bmuipvhi!uif!Djuzt!jowftunfou!jo!jut!dbqjubm!bttfut!jt!sfqpsufe!ofu!pg!
sfmbufe!efcu-!uif!sftpvsdft!offefe!up!sfqbz!uif!efcu!nvtu!cf!qspwjefe!gspn!puifs!tpvsdft-!bt!dbqjubm!bttfut!dboopu!cf!
vtfe!up!mjrvjebuf!uiftf!mjbcjmjujft/!
Sftusjdufe!ofu!qptjujpo!dpotjtut!pg!bnpvout!mfhbmmz!ps!puifsxjtf!fyufsobmmz!sftusjdufe!gps!efcu!tfswjdf!boe!puifs!
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dbqjubm!bttfut/!%/:9:!njmmjpo!)5&*!bsf!tqfdjbm!sfwfovft!sftusjdufe!qsjnbsjmz!gps!vtf!jo!uif!Dpnnvojuz!Efwfmpqnfou!
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njmmjpo!pg!cvtjoftt.uzqf!sftusjdujpot!bsf!sftfswft!sfrvjsfe!gps!efcu!tfswjdf!qbznfout!boe!bttfu!sfqmbdfnfou/!!B!upubm!pg!
%23/5!njmmjpo!sfqsftfout!uif!vosftusjdufe!ofu!qptjujpo!pg!uif!Djuzt!cvtjoftt.uzqf!bdujwjujft!boe!nbz!pomz!cf!tqfou!po!
hpmg!dpvstf!pqfsbujpot-!xbufs-!xbtufxbufs!boe!puifs!vujmjuz!bdujwjujft/!!Nbjoufobodf!pg!vujmjuz!efmjwfsz!tztufnt!)xbufs!
mjoft-!qvnq!tubujpo-!xfmmt*-!tupsn!esbjo!gmvtijoh-!xbufs!nfufs!sfbejoh-!boe!dbqjubm!dpotusvdujpo!qspkfdut-!tvdi!bt!xfmm!
sfibcjmjubujpo-!bsf!fybnqmft!pg!vujmjuz!bdujwjujft/!!Puifs!gvodujpot!pg!uif!Djuz!nbz!bddftt!uif!sfnbjojoh!%8/8!njmmjpo!up!
nffu!pohpjoh!pcmjhbujpot!up!djuj{fot!boe!dsfejupst/!!Fybnqmft!pg!puifs!Djuz!pcmjhbujpot!xijdi!uijt!sfnbjojoh!bnpvou!
nbz!cf!vtfe!gps!bsf;!!qvcmjd!tbgfuz!fnqmpzff!tbmbsjft-!qbslt!nbjoufobodf!)npxjoh-!gfodf!sfqbjs-!fud/*-!boe!pohpjoh!
tusffu!nbjoufobodf!)tusffu!txffqjoh-!sftusjqjoh-!sftvsgbdjoh-!fud/*/!
Bu!uif!foe!pg!uif!gjtdbm!zfbs-!uif!Djuz!sfqpsufe!qptjujwf!cbmbodft!jo!bmm!uisff!dbufhpsjft!pg!ofu!qptjujpo!gps!uif!
hpwfsonfou!bt!b!xipmf-!bt!xfmm!bt!gps!uif!tfqbsbuf!hpwfsonfoubm!boe!cvtjoftt.uzqf!bdujwjujft/!
City of Bremerton / 11
Dibohft!jo!ofu!qptjujpo!
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pqfsbujoh!bdujwjujft/!Uif!Djuzt!pwfsbmm!gjobodjbm!qptjujpo!jnqspwfe!jo!3127!xjui!ofu!qptjujpo!jodsfbtjoh!
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pg!cvtjoftt.uzqf!bdujwjujft!jodsfbtfe!cz!%5/1!njmmjpo/!!!
Gpmmpxjoh!jt!b!dpoefotfe!wfstjpo!pg!uif!Djuzt!dibohft!jo!ofu!qptjujpo/!!Uif!ubcmf!tipxt!uif!sfwfovft-!fyqfotft-!boe!
sfmbufe!dibohft!jo!ofu!qptjujpo!jo!ubcvmbs!gpsn!gps!uif!hpwfsonfoubm!bdujwjujft!tfqbsbuf!gspn!uif!cvtjoftt.uzqf!
bdujwjujft/!!Uif!hsbqit!uibu!gpmmpx!dpnqbsf!qsphsbn!sfwfovft!up!qsphsbn!fyqfotft!boe!jmmvtusbuf!uif!sfwfovft!cz!
tpvsdf!tfqbsbufmz!gps!uif!hpwfsonfoubm!boe!cvtjoftt.uzqf!bdujwjujft/!
Dibohft!jo!Ofu!Qptjujpo!
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City of Bremerton / 12
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City of Bremerton / 13
City of Bremerton / 14
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City of Bremerton / 15
City of Bremerton / 16
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City of Bremerton / 17
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City of Bremerton / 18
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City of Bremerton / 19
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City of Bremerton / 20
City of Bremerton
Statement of Net Position
December 31, 2016
Primary Government
GovernmentalBusiness-Type
ActivitiesActivitiesTotal
Assets
Current assets:
Cash & Cash Equivalents$ 7,793,937$ 18,754,803$ 26,548,740
Investments7,331,65612,078,64919,410,305
Receivables4,977,9395,278,21110,256,150
Internal balances90221,62522,527
Due from other governments265,93267,635333,567
Inventories118,7891,476,7251,595,514
Prepayments478,36428,568506,932
Restricted assets:
Cash & Cash Equivalents5,474,173813,8966,288,069
Investments1,615,258911,3072,526,565
Receivables606,959325,400932,359
Due from other governments179,278-179,278
Notes and contracts receivable:
Due within one year---
Due in more than one year-265,500265,500
Capital assets net of depreciation113,758,483176,971,304290,729,787
Other assets4,000,422-4,000,422
Total assets$ 146,602,092$ 216,993,623$ 363,595,715
Deferred outflows of resources
Deferred amount on refunding$ 895,249$ -$ 895,249
Deferred amount related to pension$ 2,967,709$ 913,445$ 3,881,154
Total Deferred outflow of resources$ 3,862,958$ 913,445$ 4,776,403
Liabilities
Accounts payable and other current liabilities$ 1,365,723$ 1,206,577$ 2,572,300
Employee wages payable1,020,029383,1781,403,207
Other accrued liabilities244,154172,245416,399
Custodial accounts49,739143,037192,776
Noncurrent liabilities
Unearned Revenue-80,23480,234
Due within one year7,619,6513,745,17211,364,823
Due in more than one year41,855,95438,836,24680,692,200
Total liabilities$ 52,155,250$ 44,566,689$ 96,721,939
Deferred inflows of resources related to pension$ 314,886$ 173,405$ 488,291
Net Position
Net investment in capital assets$ 82,392,861$ 147,931,239$ 230,324,100
Restricted for:
Tourism promotion & facilities 429,864 - 429,864
Community development block grant 944,579 - 944,579
Public safety 467,310 - 467,310
Public Access Television 103,446 - 103,446
Debt service 115,985 2,052,964 2,168,949
Workers compensation 100,000 - 100,000
Capital projects 5,715,233 7,697,587 13,412,820
Unrestricted 7,725,636 15,485,184 23,210,820
Total Net Position$ 97,994,914$ 173,166,974$ 271,161,888
See accompanying notes to the financial statements.
City of Bremerton / 21
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City of Bremerton / 22
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City of Bremerton / 23
City of Bremerton
Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
for the Year Ended December 31, 2016
OtherGovernmental
GeneralGovernmentalFunds
FundFundsTotal
REVENUES
Taxes
Property$8,260,814$1,416,100$9,676,914
Sales8,598,488908,0069,506,494
Business13,096,285 -13,096,285
Other127,0492,498,0682,625,117
Licenses and permits1,204,323295,5231,499,846
Intergovernmental1,160,7503,315,6814,476,431
Charges for services2,840,162272,9873,113,149
Fines and forfeitures1,195,740279,5891,475,329
Miscellaneous267,4711,434,6421,702,113
Total revenues36,751,08210,420,59647,171,678
EXPENDITURES
Current:
General government5,228,851156,1265,384,977
Public safety22,682,151681,58323,363,734
Utilities and environment28,401 -28,401
Transportation471,3783,335,7963,807,174
Economic environment1,386,703446,2261,832,929
Mental/physical health77,08277,002154,084
Culture and recreation3,836,267622,2764,458,543
Debt service:
Principal -1,685,0001,685,000
Interest and other debt issue costs2,9931,256,3721,259,365
Capital outlay -2,598,7792,598,779
Total expenditures33,713,82610,859,16044,572,986
Excess (deficiency) of revenues over
expenditures
3,037,256(438,564)2,598,692
OTHER FINANCING SOURCES (USES)
Proceeds of long-term debt - - -
Capital asset donations & disposal115,0008,770123,770
Insurance recoveries -8,7418,741
Transfers in191,1291,694,4551,885,584
Transfers out(862,259)(1,047,380)(1,909,639)
Total other financing sources and uses(556,130)664,586108,456
Net change in fund balances2,481,126226,0222,707,148
Fund balances-beginning5,483,97610,162,48515,646,461
Prior period adjustments - - -
Fund balances-ending$7,965,102$10,388,507$18,353,609
See accompanying notes to the financial statements.
City of Bremerton / 24
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City of Bremerton / 25
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City of Bremerton / 26
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City of Bremerton / 27City of Bremerton / 27
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Tff!bddpnqbozjoh!opuft!up!uif!gjobodjbm!tubufnfout/
City of Bremerton / 28
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Dbti!boe!frvjwbmfout!.!cfhjoojoh!4!-156-372!!217-8:4!!5-321-898!!:58-336!!9-421-177!!4-875-97:
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%!!!7-168-694%!!!!!258-713%!!!!!9-275-375%!!4-375-293%!!28-744-742%!!!!!5-775-985
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Tff!bddpnqbozjoh!opuft!up!uif!gjobodjbm!tubufnfout/
City of Bremerton / 29
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Qspqsjfubsz!Gvoet
Qbhf!3!pg!3
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!!!pqfsbujoh!bdujwjujft;
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!!!dbti!qspwjefe!cz!pqfsbujoh!bdujwjujft;
Efqsfdjbujpo!!!!3-156-975!!!!275-:77!4-735-3::!238-358!!!!!!6-:73-487!!!!!!!!!!876-619
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Tff!bddpnqbozjoh!opuft!up!uif!gjobodjbm!tubufnfout/
City of Bremerton / 30
Djuz!pg!Csfnfsupo
Tubufnfou!pg!Gjevdjbsz!Ofu!Qptjujpo
Gjevdjbsz!Gvoet
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Tff!bddpnqbozjoh!opuft!up!uif!gjobodjbm!tubufnfout/
City of Bremerton / 31
City of Bremerton
Notes to Financial Statements
January 1, 2016December 31, 2016
1. Summary of significant accounting policies
The financial statements of the City of Bremerton have been prepared in conformity with generally accepted accounting
principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the
accepted standard setting body for establishing governmental accounting and financial reporting principles.
A.Reporting Entity
The City of Bremerton was incorporated on October 14, 1901 and operates under the laws of the State of Washington
applicable to a home-rule charter city with a Council/Mayor form of government. The City is a general purpose
government which provides police, fire, water, wastewater, street maintenance, parks and recreation, planning and
zoning, municipal court and general governmental services to its citizens.As required by GAAP, the financial
statements present the City, the primary government, and its component units. The component units discussed below are
because of the significance of their operational or financial relationships with the
City.
In 2009, the City established the Bremerton Transportation Benefit District (TBD) that meets the criteria of a component
unit. Effective April 4, 2016, the City of Bremerton assumed the duties of the TBD.See Note 7 for discussion of the
TBD.
B. Government-wide and fund financial statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report
information on all of the non-fiduciary activities of the City (and its component units). For the most part, the effect of
interfund activity has been removed from these statements. Governmental activities, which normally are supported by
taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant
extent on fees and charges for support.
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. Our policy is to not
allocate indirect costs to a specific function. Program revenues are those items that are applicable to customers who
purchase, use, or directly benefit from goods, services, or privileges provided by a given function. Grants and
contributions that are restricted to meeting the operational or capital requirement of a particular function are also
included. Taxes and other items not properly included among program revenues are reported instead as general
revenues.
Separate fund financial statements are provided for governmental funds, proprietary funds, and fiduciary funds.
Fiduciary funds, however, are excluded from the government-wide financial statements. Major individual governmental
funds and major individual enterprise funds are reported as separate columns in the fund financial statements.
C.Measurement focus, basis of accounting, and financial statement presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual
basis of accounting, as are the proprietary fund and fiduciary fund financial statements. Revenues are recorded when
earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property
taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as
revenue 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 30 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as
City of Bremerton / 32
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.
Property taxes, fines and certain receivables for services provided are associated within the current period are all
considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the
portion of special assessment receivable due within the current fiscal period is considered to be susceptible to accrual as
revenue of the current period. All other revenue items are considered to be measurable and available only when cash is
received by the City.
The City reports the following major governmental funds:
The general fund is the C
required to be accounted and reported for in another fund.
The City reports the following major proprietary funds:
The water and wastewater funds account for activities related to the ongoing operations of the C
sewer systems.not meet the criteria for presentation as a major fund but because
it is the only other proprietary fund it is listed on the face of the proprietary fund statements with the major funds.
The golf course fund accounts for the operations and maintenance of the City owned Gold Mountain Golf Course.
Additionally, the City reports the following fund types:
Debt Service Funds account for the resources accumulated and payments made for principal and interest on general
obligation debt except those required to be accounted for in another fund.
Special Revenue Funds account for the proceeds of specific revenue sources to finance specific activities as required
by law or administrative regulation. Their revenues are earmarked to finance certain activities or functions.
Capital Project Funds account for the acquisition or development of capital facilities for governmental activities.
Their major sources of revenues are from proceeds from general obligation bonds, loans, real estate excise tax,
impact fees, and grants from other agencies and contributions from other funds.
Internal service funds account for the accumulation of funds used to repair City vehicles and equipment and to
replace them at the end of their useful lives. Funds are also accumulated for
Risk Management,Information Technology Services, Self-insured medical program, Unemployment and Employee
leave payout activities. In all cases, City departments contribute according to the benefit provided by each fund.
Agency funds account for assets held by a government as an agent for individuals, private organizations, other
governments, and/or other funds. All funds are used for custodial or clearing purposes.
The City eliminates the effect of interfund activity from the government-wide financial statements. There are some
exceptions to this rule, such as charges between the utility function and other functions within the City, and any utility
taxes levied on . Elimination of these charges would distort the direct costs and program revenues
reported for the various functions concerned.
Amounts reported as program revenues include charges to customers, special assessments, operating grants and
contributions and capital grants and contributions. General revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with a proprietary
stormwater as well as golf fees and timber revenues. Operating expenses include administration,operations and
maintenance expenses and depreciation on capital assets. All revenues and expenses not falling into the above broad
categories are reported as non-operating revenues and expenses.
City of Bremerton / 33
D. Budgetary Information
1. Scope of Budget
Annual appropriated budgets are adopted for all funds except fiduciary fund types. All appropriations lapse at the end of
each year. The budget is prepared using a basis of accounting substantially the same as the GAAP basis used in
accounting for governmental funds. The budgetary basis of accounting differs from generally accepted accounting
principles. The city budgets the Contingency Reserve and Conference Center activities as if they were special revenue
funds. However, GAAP requires these activities to be reported within the General fund. The Conference Center fund
does not have asignificant stream of restricted resources and under GAAP the Contingency Reserve fund was
established for a specific purpose, stabilization, which should be included in the General fund. From a budgetary
perspective, the city budgets for each of these funds separately from the General fund. The budgetary comparison for the
General Fund does not include the managerial funds.
2. Amending the Budget
tegory group level. The five distinct category groups are 1)
Personnel, 2) Supplies, Services and Taxes, 3) Debt Service, 4) Capital Expenditures and 5) Transfers. Expenditures
may not legally exceed appropriations at that level of detail. The Mayor may authorize a one-time transfer of less than
$10,000 between category groups within a department. All other revisions within a fund or any revisions that alter the
total expenditures of a fund, or affect the number of authorized employee positions or salary ranges must be approved by
the City Council.The C16.
The financial statements contain the original and final budget information. The original budget is the first complete
appropriated budget. The final budget is the original budget adjusted by all supplemental appropriations authorized for
the fiscal year.
E. Assets, Liabilities and Net Position
1. Cash and Cash Equivalents
. At December 31, 2016, the City was holding $27,881,205
in short-term residual investments of surplus cash. This amount is classified on the balance sheet as cash and cash
equivalents in various funds. The interest on these investments is prorated to the various funds.
The amounts reported as cash and cash equivalents also
in lieu of payments for services rendered. The average compensating balance maintained during 2016 was $5,275,537.
For purposes of the statement of cash flows, the City considers all highly liquid investments (including restricted assets)
with a maturity of three months or less when purchased to be cash equivalents.
2. Investments - See Note 3 Deposits and Investments.
3. Receivables
Receivables consist of property, B&O, utility, sales and parking taxes, and housing rehabilitation loans resulting from
the federal Department of Housing and Urban Development., as well as other revenues earned by the City from the
County, State and other taxpayers but not yet received. Also included are customer accounts receivable which consist
of amounts owed from private individuals or organizations for goods and services including amounts owed for which
billings have not been prepared.
Special assessments are recorded when levied. Special assessments receivable consist of current and delinquent
assessments and related interest and penalties. As of December 31, 2016,$325,400of special assessments receivable
were delinquent.
City of Bremerton / 34
4. Amounts Due To and From Other Funds and Governments
Amounts due to and from other funds include interfund loans receivable/payable as well as outstanding balances that
have resulted from the provision of services between funds as well as corrections of prior transactions. Any residual
balances outstanding between the governmental activities and business-type activities are reported in the government-
wide financial statements as internal balances. A summary schedule of interfund loans receivable and payable is
furnished in Note 14.
Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in
applicable governmental funds to indicate that they are not available for appropriation and are not expendable available
financial resources.
5. Inventories
Inventories in governmental funds consist of expendable supplies held for consumption. The cost is recorded as
expenditure at the time individual inventory items are purchased. The portion of fund balance not available for future
expenditure is included in the non-spendable category of fund balance. A comparison to market value is not considered
necessary.
In proprietary funds, a perpetual inventory is maintained, in which the cost is capitalized when inventory items are
purchased, and expensed when the item is consumed. Inventory is recorded by the FIFO (first in first out) method which
approximates market value.
6. Restricted Assets and Liabilities
These accounts contain resources for programs, construction, replacement, and debt service. Related liabilities are
shown as Payable from Restricted Assets. Specific debt service reserve requirements are described in Note 10,Long-
Term Debt.
Restricted assets are composed of the following:
Governmental type:
Cash and investments - Construction$ 5,688,566
Cash and investments - HUD programs202,802
Cash and invesments - Public safety394,634
Cash and invesments - Public Television103,446
Cash and investments - Workers compensation100,000
Cash and investments - Tourism promotion 429,864
Cash and investments - Debt Service170,119
Receivables - HUD Programs-
Receivables - Tourism promotion-
Receivables - Construction9,339
Receivables - Public Safety-
Receivables - Debt Service3,461
Due from other governments - HUD147,618
Due from other governments - Construction31,660
Total governmental$ 7,281,509
Business type:
Cash and Investments - Debt service $ 1,725,203
Cash and Investments - Construction-
Total business$ 1,725,203
7. Capital Assets.See Note 5,Capital Assets.
City of Bremerton / 35
Capital assets, which include property, plant, equipment, intangible and infrastructure assets, (e.g., roads, bridges,
sidewalks, and similar items) are reported in the applicable governmental or business-type columns in the government-
wide financial statements. Capital assets are defined by the City as assets with an initial, individual cost of more than
$10,000 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 value per GASB
72, at the date of donation.
Costs for additions or improvements to capital assets are capitalized when they increase the effectiveness or efficiency of
the asset.The cost of normal maintenance and repairs are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during
the construction phase of the capital assets of business-type activities is not included as a part of the capitalized value of
the assets constructed.
Property, plant and equipment of the City are depreciated using the straight line method over the following estimated
useful lives:
AssetsYears
Buildings50 Years
Improvements Other than Buildings Governmental Assets20 Years
Improvements Other than Buildings Proprietary Assets50 Years
Infrastructure10-15 Years
Plant Machinery and Equipment20 Years
Furniture and Fixtures20 Years
Vehicles and Similar Equipment7-10 Years
Data Processing/Electronic Equipment5 Years
8. Other Assets
This account reflects various non-current assets of the City including utility water rights asset,
resulting from the funded plans of LEOFF 1 and II.
9. Deferred outflow of resources
A deferred outflow of resources is a consumption of net assets by the government that is applicable to a future reporting
period. This account includes the portion of a loss on the refunding of debt attributable to future periods.This account
also includes pension costs attributable to future periods. See Note 8, Pension Plans for a discussion on pension
reporting.
10. Compensated Absences
benefits.
The City records a liability for all outstanding vacation pay. The payment is based on current wages at termination.
Employees with the required length of service may receive cash payouts for all accumulated vacation leave. Maximum
vacation payout is dependent on which labor group covers a specific employee based on the following chart:
Employee GroupMaximum Vacation Cash Out
Teamsters240 hours
IAFF Local 437 (firefighters)315 hours
Police Guild 360 hours
Police Management 300 hours
Non-represented personnel240 hours
City of Bremerton / 36
Non-exempt employees may request compensatory time off in lieu of overtime payment. Unused compensatory time is
cashed out upon termination based on wages at that time. The City records a liability for all outstanding compensatory
time. Compensatory time is accrued at a rate of one and one-half hours for each hour of overtime worked up to the
following maximums allowed:
Employee GroupMaximum Compensatory Time Cash Out
Teamsters40 hours
IAFF Local 437 (shift personnel)275 hours
IAFF Local 437 (non-shift personnel)209 hours
Police Guild 60 hours
Compensatory time may be carried over from year to year.
Upon resignation,employees ineligible for retirement do not receive any compensation for unused sick leave.
Employees that meet the eligibility criteria for service retirement may receive cash payouts of 35% of unused sick leave
up to the maximum allowed based on the following:
Employee GroupMaximum Sick Leave Cash out
Teamsters35% of 960 hours (336 hours max)
IAFF Local 437 (shift firefighters)35% of 1440 hours (504 hours max)
IAFF Local 437 (non-shift personnel)35% of 1166 hours (408 hours max)
Police Guild35% of 1200 hours (420 hours max)
Police Management35% of 1200 hours (420 hours max)
Non-represented personnel35% of 960 hours (336 hours max)
The City records a liability for sick leave for all personnel that meet the eligibility criteria for retirement. The payment is
based on current wages at time of retirement.
The entire eligible compensated absence liability is reported on the government-wide financial statements. In the
proprietary funds, the entire amount of compensated absences is reported as a fund liability.
11. Pensions
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources
related to pensions, and pension expense, information about the fiduciary net position of all state sponsored pension
they are reported by the Washington State Department of Retirement Systems. 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.
12. Other Current/Accrued Liabilities
These accounts on the fund statements include deposits payable held on open contracts as well as the current portion of
claims and judgments payable.
13. Long-term Debt See Note 10,Long-Term Debt.
14. Unearned revenue
This account includes amounts recognized as receivables but not revenues in governmental funds because the revenue
recognition criteria have not been met.In proprietary funds this amount represents credit balances on customer utility
accounts.
15.Deferred inflow of resources
City of Bremerton / 37
A deferred inflow of resources is an acquisition of net assets by the government that is applicable to a future reporting
period.
16. Fund Balance Classification, Details, and Minimum Fund Balance
In the fund financial statements, governmental funds report fund balances based on the extent to which the City is bound
manner:
Non-spendable includes amounts that are either 1) not in spendable form, or 2) legally or contractually required
to be maintained intact. Inventories, prepaid items and permanent trust are classified as non-spendable fund
balances.
Restricted includes amounts which are constrained for specific purposes that are 1) externally imposed by
creditors, grantors, contributors, or laws or regulations of other governments, or 2) imposed by law through
enabling legislation.
Committed includes amounts that can be used for specific purposes with constraints imposed by formal action
of the highest level of decision-making authority. The authorization specifying the purposes for which
committed funds can be used should have the consent of both the legislative and executive branches of
government. The City operates under a Mayor-Council form of government. As Executive Officer, the Mayor
supervises the administrative process of the City and works with the City Council. The City Council enacts
ordinances and resolutions that may impose, modify or rescind fund balance commitments.
Assigned includes amounts that are intended to be used for specific purposes, but are neither restricted nor
decision making authority. Furthermore, the constraints imposed on the use of assigned amounts are more
easily removed or modified than those imposed on committed fund balances. The City Council may authorize
executive officers to assign fund balances for specific purposes through Council ordinances and resolutions.
Unassigned includes amounts that are not assigned to other funds and do not meet the criteria for being
classified as restricted, committed, or assigned. Fund balances that can be utilized for economic stabilization,
emergencies and contingencies that do not qualify as restricted or committed are reported as unassigned.
GeneralOther
FundFundsTotal
Fund balances:
Nonspendable:
Inventory$ 23,407$ 23,407-$
Restricted for:
Tourism promotion & facilities- 429,864429,864
Community development block grant- 350,420350,420
Public safety- 467,310467,310
Public Access Television- 103,446103,446
Debt service- 115,234115,234
Capital projects59,8685,655,3655,715,233
GeneralOther
FundFundsTotal
Fund balances:
City of Bremerton / 38
Committed to:
Fund balance stabilization939,373- 939,373
Employee Wellness---
Parks---
Building Abatement- 37,10437,104
Public Access Television- 417,417417,417
Public safety- 61,00061,000
Public art- 50,94550,945
Assigned to:
Street Operations- 1,217,7481,217,748
Tourism promotion & facilities- 26,28126,281
Parking System- 392,336392,336
Building Abatement- 300,860300,860
Court Improvement- 5,6745,674
Debt Service- 290,479290,479
Park Capital- 109,548109,548
Capital Improvements- 357,476357,476
Unassigned:6,942,454- 6,942,454
Total Fund Balances $ 7,965,102$ 10,388,507$ 18,353,609
When both restricted and unrestricted resources are available for use, it is the C
first, then unrestricted resources as needed. unrestricted resources to be
reduced in the following order when expenditures are incurred for purposes for which amounts in any of those
unrestricted fund balance classifications could be used: committed amounts are reduced first, followed by assigned
amounts, and then unassigned.
A minimum fund balance policy has been established by the City Council that establishes target year end operating cash
and investment balances as a percentage of budgeted operating expenditures
Stormwater and Golf Course funds. The following table shows the status at December 31, 2016.
TargetTargetBalance
FundRateBalance12/31/2016
General8.5%3,329,350$ $ 7,503,575
Water12%1,681,0552,564,170
Wastewater12%2,022,8053,292,168
Stormwater12%362,9151,048,702
Golf Course12%502,98812,339
A contingency reserve fund, for the purposes of economic stabilization, was created by the City Council to protect the
event of unforeseen and unfunded emergency requirements. The target fund balance is set at
0.375/$1,000 of assessed valuation. The proceeds of sale of all General Fund real property are committed to this
purpose. Funds are to be expended, with the unanimous vote of the City Council, only in the event of a bona fide
emergency defined as a significant crisis threatening the financial viability of the City. If the balance of the fund is less
than the target amount a repayment plan shall be established to replenish the fund to its minimum level. Balances in
excess of the stated amount can be used for capital purposes upon City Council approval by simple majority vote.For
2016 the target fund balance of the contingency reserve fund is $939,373. At 12/31/16 the balance was $939,373
City of Bremerton / 39
2.Reconciliation of Government-wide and Fund Financial Statements
A. Explanation of aggregated differences between the governmental fund balance sheet and the government-wide
statement of net position
The governmental fund balance sheet includes reconciliation between total fund balance and total net position as
reported in the government-wide statement of net position. The details of the aggregated differences are presented
below.
Capital assets used in governmental activities are not financial resources and therefore not reported in the funds:
Capital Assets of governmental funds net of depreciation$113,697,756
Net adjustment to increase fund balance - total governmental funds to arrive at
net position of governmental activities $ 113,697,756
Other long-term assets are not available to pay for current-period expenditures and therefore are not reported in the
funds:
Deferred revenue for taxes and receivables due beyond the city's 30 day
measurable and available period$ 2,803,825
Investment interest accrued beyond the city's 30 day measurable
and available period17,937
Build America Bond subsidy beyond the city's 30 day measurable
and available period31,806
Deferred charge for bond issue costs0
Net Pension Asset4,000,422
Deferred Pension Outflows 2,883,229
Net adjustment to increase fund balance - total governmental funds to arrive at
net position - governmental activities $ 9,737,219
Internal Service funds are used by management to charge the costs of certain activities to individual funds:
Net position of Internal service funds included in governmental activities$ 2,794,941
Net adjustment to increase fund balance - total governmental funds to arrive at
net position - governmental activities $ 2,794,941
Some liabilities, including bonds, loans and compensated absences payable, are not due and payable in the current
period and therefore are not reported in the funds:
GO bonds payable$ (31,235,000)
Less: Issuance premiums(1,025,871)
Add: Deferred amount on refunding895,249
Accrued interest payable(236,824)
Compensated absences(2,488,731)
Net Pension Liability(7,407,134)
Deferred Pension Inflow(268,547)
Other Post Employment Benefits (4,821,753)
Net adjustment to reduce fund balance - total governmental funds to arrive
at net position - governmental activities $ (46,588,611)
City of Bremerton / 40
B. Explanation of aggregated differences between the governmental fund statement of revenues, expenditures,
and changes in fund balances and the government-wide statement of activities
The governmental fund statement of revenues, expenditures, and changes in fund balances includes reconciliation
between net changes in fund balances total governmental funds and changes in net position of governmental activities
as reported in the government-wide statement of activities. The details of the aggregated differences are presented
below.
Government funds report capital outlays as expenditures; however, in the statement of activities the cost of those assets
is allocated over their estimated useful lives and reported as depreciation expense.
Capital outlay$ 2,598,779
Depreciation(4,083,989)
Gain/loss on retirement(86,177)
Contributions of capital assets0
Transfer of Assets to Utilities0
Net adjustment to increase net change in fund balances - governmental funds
to arrive at change in net position - govermental activities $ (1,571,387)
The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the
principal of long-term debt consumes the current financial resources of governmental funds. Also, governmental funds
report the effect of issuance costs, premiums, discounts, and similar items when debt is first issued, whereas these
amounts are deferred and amortized in the statement of activities.
GO bond principal paid$ 1,685,000
Principal of GO Bonds Issued-
Premiums on Bonds Sold-
Deferred Amount on Refunding(74,858)
Ammortized Premium83,552
Net adjustment to decrease net change in fund balances - governmental funds
to arrive at change in net position of governmental activities $ 1,693,694
Some revenues and expenses reported in the statement of activities do not provide/do not require the use of current
financial resources and therefore are not reported as expenditures in governmental funds:
Change in accrued interest receivable$ 7,117
Change in deferred property taxes receivable(58,416)
Change in court fines receivable41,368
Change in block grant loans receivable(58,759)
Change in parking/red light fines receivable174,423
Change in BKAT contracts receivable0
Change in Build America Bond subsidy receivable(6,268)
Change in LEOFF 2 Special Rev GASB 680
Change in Pension Expense GASB 68849,233
Change in other post-employment benefits payable(1,685,417)
Change in accrued interest payable152,882
Change in compensated absences payable87,658
Net adjustment to decrease net change in fund balances - governmental funds
to arrive at change in net position of governmental funds $ (496,179)
City of Bremerton / 41
The net revenue of certain internal service fund activities are governmental in nature and are included in the change in
net position in the government-wide statements.
Net revenue of risk management activities$ (52,979)
Net revenue of self insurance activities$ 801,620
Net Revenue of employment security activities28,338
Net Revenue of Accrued Leave activities(242,285)
Net revenue of information technology activities173,877
Net revenue of equipment maintenance activities116,008
Net adjustment to decrease net change in fund balances - governmental funds
to arrive at change in net position of governmental funds $ 824,579
3.Deposits and Investments
A.Deposits
The City's deposits are entirely covered by federal depository insurance (FDIC) or by collateral held in a multiple financial
institution collateral pool administered by the Washington Public Deposit Protection Commission (PDPC).
B. Investments
As required by state law, all investments of the City funds are obligations of the U.S. Government, U.S. agency issues,
obligations of the S
Pool, or certificates of deposit with Washington State banks and savings and loan institutions. All temporary investments are
stated at market value. Other property and investments are shown on the statement of net position at cost.
Investment TypeValue
Cash & Cash Equivalents
Cash on hand5,307,757
Total Cash & Cash Equivalents$ 5,307,757
Investment Maturity (in Years)
Fair<12 Months13-24 Months>25Months
Federal National Mortgage Association$ 6,999,0306,999,030
Federal Home Loan Bank2,997,8042,997,804
State Treasurer's Investment Pool27,881,20527,881,205
US Treasury11,959,5083,986,1007,973,408
Total$ 49,837,547$ 27,881,205$ 3,986,100$ 17,970,242
Total Cash and Investments$ 55,145,304
Interest Rate Risk. As a means of limiting its exposure to realized fair value losses arising from rising interest rates, the
requirements. Unless matched to a specific cash flow, the City is limited by the investment policy to maturities of five
years or less.
Credit Risk.Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations.
investment policy limits investments to those authorized by State of Washington statutes governing the investment of public
agency securities were rated AA+ . The Washington
State Local Government Investment Pool which operates in a manner consistent with the section 2a-7 of the SE
Act of 1940, is unrated.
Concentration of Credit Risk. investment policy states that (with the exception of U.S. Treasury securities
invested in a single
security type or with a single financial institution. At 12/31/16 the portfolio was in compliance with this policy.
City of Bremerton / 42
Custodial Credit Risk. The custodial credit risk for deposits is the risk that in the event of bank failure, the Cit
financial institution. The definition of qualified institution is described in RCW 39.58.080 and the bank must be a
participant in the St
The custodial credit risk for safekeeping of securities is the risk in the event that the City would not have access to
security transactions be conducted on a delivery
versus payment basis. Securities will be held in a third party custodial account designated by the City Treasurer.
4. Property Taxes
The Kitsap County Treasurer acts as an agent to collect property taxes levied in the County for all taxing authorities.
Collections are distributed the end of each month.
A. Property Tax Calendar
January 1 - Taxes are levied and become an enforceable lien against properties.
February 14 - Tax bills are mailed.
April 30 - First of two equal installment payments is due.
May 31 - Assessed value of property established for next year's levy at 100 percent of market value.
October 31 - Second installment is due.
Property taxes are recorded as a revenue and receivable when levied.Property taxes collected in advance of the fiscal year to
which they apply are recorded as deferred inflow of resources and recognized as revenue of the period to which they apply. No
allowance for uncollectible taxes is established because delinquent taxes are considered fully collectible. Prior year tax levies
were recorded using the same principal, and delinquent taxes are evaluated annually.
RCW 84.52.043 allows a city to levy taxes of up to $3.375 per $1,000 of taxable property in the city and RCW
41.14.060 allows an additional $0.225 per $1,000 for any municipal purpose, if not required to fund pension programs.
For cities annexed to a library district, such as the City, the maximum levy rate is reduced by the amount of the library
district levy. For tax year 2016, the Kitsap Regional Library District levied $0.39 per $1,000 of assessed valuation, and
21 per $1,000 of assessed valuation. These taxes may be levied without a
vote of the people. This limitation is exclusive of a potential levy for the maintenance of a local improvement guaranty
fund, which the City does not levy.
The City's regular levy for 2016 was $2.83 per $1,000 on an assessed valuation of $2.503 billion, for a total regular levy of
$7,099,825.
Special levies, approved by the voters are not subject to the above limitations. In 2016, the City levied an additional $1.06 per
$1,000 for General Obligation Bonds and Emergency Medical Services, for a total additional levy of $2,648,417.
Article VII, Section 2 of the Washington Constitution, as amended in 1973, limits aggregate regular property tax levies
by the State and all taxing districts, except port districts and public utility districts, to $10 per $1,000 or one percent of
the true and fair value of property. RCW 84.52.050 provides the same limitation by statute.
5. Capital Assets
Capital asset activity for the year ended December 31, 2016, was as follows:
BeginningEnding
BalanceBalance
Governmental Activities1/1/2016IncreasesDecreases12/31/2016
Capital assets, not being depreciated:
$ 20,402,410 $ - $ 86,177 $ 20,316,233
Land
Construction in progress 5,568,482 2,598,779 425,451 7,741,810
Intangibles 4,500 - - 4,500
Total capital assets, not being depreciated25,975,3922,598,779511,62828,062,543
City of Bremerton / 43
BeginningEnding
BalanceBalance
Governmental Activities1/1/2016IncreasesDecreases12/31/2016
Capital assets, being depreciated:
Buildings/building improvements64,164,070--64,164,070
Improvements other than buildings21,085,690185,708-21,271,398
Machinery and equipment8,904,57575,25553,0988,926,732
Infrastructure51,309,899225,214-51,535,113
Total capital assets, being depreciated145,464,234486,17753,098145,897,313
Less accumulated depreciation for:
Buildings/buildings improvements14,434,8521,309,725-15,744,577
Improvements other than buildings11,452,761719,614-12,172,375
Machinery and equipment6,776,058260,37553,0986,983,335
Infrastructure23,506,8121,794,274-25,301,086
Total accumulated depreciation56,170,4834,083,98853,09860,201,373
Total capital assets, being depreciated, net89,293,751(3,597,811)-85,695,940
$ 115,269,143 $ (999,032) $ 511,628 $ 113,758,483
Governmental activities capital assets, net
BeginningEnding
BalanceBalance
Business-type Activities1/1/2016IncreasesDecreases12/31/2016
Capital assets, not being depreciated:
$ 9,406,561 $ 170,847 $ 63,125 $ 9,514,283
Land
7,414,275 6,296,145 7,729,606 5,980,814
Construction in progress
15,656 63,125 - 78,781
Intangibles
Total capital assets, not being depreciated16,836,4926,530,117-7,792,731-15,573,878
Capital assets, being depreciated:
Buildings/building improvements54,679,3832,053,529616,77856,116,133
Intangibles453,6201,952,694-2,406,314
Improvements other than buildings144,628,3373,498,75569,828148,057,264
Machinery and equipment62,194,3513,143,060707,47864,629,932
Total capital assets, being depreciated261,955,69110,648,0371,394,084271,209,644
Less accumulated depreciation for:
Buildings/buildings improvements22,535,672972,372394,73823,113,306
Intangibles299,2601,963,923-2,263,183
Improvements other than buildings49,023,1852,913,20127,12051,909,266
Machinery and equipment30,261,2662,831,732566,53632,526,462
Total accumulated depreciation102,119,3838,681,229988,394109,812,217
Total capital assets, being depreciated, net159,836,3081,966,808405,690161,397,426
$ 176,672,800 $ 8,496,925 $ 8,198,421 $ 176,971,304
Business-type activities Capital assets, net
City of Bremerton / 44
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental Activities:
General government $ 209,519
Public safety371,193
Transportation, including depreciation of general infrastructure assets1,937,157
Economic environment348
Culture and recreation1,565,773
Capital assets held by the government's internal service funds-
are charged to the various functions based on their usage of the assets
$ 4,083,990
Total depreciation expense - Governmental activities
Business-type activities:
$ 3,998,557
Water
Wastewater3,624,299
Stormwater127,247
Golf164,966
Capital assets held by the government's internal service funds766,159
are charged to the various functions based on their usage of the assets
$ 8,681,229
Total depreciation expense - Business-type activities
6.Construction Commitments
At December 31, 2016, the City had several construction projects underway. The following table contains the projects
and status at year end.
Remaining
ProjectSpent to DateCommitment
Water System Scada Lifecycle Upgrade
358,722 249,278
Washington Ave Community Blvd
3,179,061 -
Installation of Hot Applied Markings
65,173 -
SW Comp Plan & LID Retrofit
158,594 59,406
Flow Control and Seismic Valve Project
851,496 -
Anderson Creek Sewer Main
161,905 84,269
Warren Ave. ADA Ramps
84,733 27,953
Bremerton Crosswalks
467,469 220,986
Ostrich Bay Creek Retrofit
35,612 54,388
Austin Drive Overlay
687,296 25,742
Evergreen Nearshore Restoration
44,519 155,481
WWTP Sewer Intcpr Upgrade
7,600 305,886
$ 6,102,181 $ $ 1,183,388
7.Component Unit
On February 4, 2009, the City authorized and approved the creation of a Transportation Benefit District (TBD) coextensive
with the boundaries of the City in order to exercise the powers available under RCW 36.73. This blended component unit is
governed by a board composed of the nine members of the Bremerton City Council, who serve in an ex-officio and
independent capacity. The primary purpose of the District is the acquisition, construction, improvement, provision and/or
funding of the maintenance of City streets and related infrastructure. The TBD is an independent taxing district and was
TBD as a blended component unit of the City. Beginning fiscal year 2013, the TBD has enacted a $20 per vehicle license fee to
fund appropriate projects. In 2016, the TBD received total collections from vehicle license fees of $510,641. The 2015
Legislature included within its large transportation funding bill (2ESSB 5987) provisions that allow a city or county that has a
16, 2016 the Bremerton City
City of Bremerton / 45
Council held a public hearing and passed Ordinance No. 5297 assuming the rights, powers, functions and obligations of the
Transportation Benefit District.
Effective April 4, 2016, the City of Bremerton assumed the duties of the TBD. A separately issued Bremerton Transportation
website at BremertonWA.gov.
8. Pension Plans
The following table represents the aggregate pension amounts for all plans subject to the requirements of the GASB Statement
68, Accounting and Financial Reporting for Pensions for the year 2016:
Pension liabilities $ 13,200,498
Pension assets $ 4,000,422
Deferred outflows of resources $ 3,881,154
Deferred inflows of resources $ 488,291
Pension expense/expenditures $ 1,553,621
State Sponsored Pension Plans
Substantially all City full-time and qualifying part-time employees participate in one of the following statewide retirement
systems administered by the Washington State Department of Retirement Systems, under cost-sharing, multiple-employer
public employee defined benefit and defined contribution retirement plans. The state Legislature establishes, and amends, laws
pertaining to the creation and administration of all public retirement systems.
The Department of Retirement Systems (DRS), a department within the primary government of the State of Washington, issues
a publicly available comprehensive annual financial report (CAFR) that includes financial statements and required
supplementary information for each plan. The DRS CAFR may be obtained by writing to:
Department of Retirement Systems
Communications Unit
P.O. Box 48380
Olympia, WA 98540-8380
Or the DRS CAFR may be downloaded from the DRS website at www.drs.wa.gov.
PERS members include elected officials; state employees; employees of the Supreme, Appeals and Superior Courts; employees
of the legislature; employees of district and municipal courts; employees of local governments; and higher education employees
not participating in higher education retirement programs. PERS is comprised of three separate pension plans for membership
purposes. PERS plans 1 and 2 are defined benefit plans, and PERS plan 3 is a defined benefit plan with a defined contribution
component.
PERS Plan 1 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the
highest consecutive service months. Members are eligible for retirement from active status at any age with at least 30 years of
service, at age 55 with at least 25 years of service, or at age 60 with at least five years of service. Members retiring from active
status prior to the age of 65 may receive actuarially reduced benefits. Retirement benefits are actuarially reduced to reflect the
choice of a survivor benefit. Other benefits include duty and non-duty disability payments, an optional cost-of-living
adjustment (COLA), and a one-time duty-related death benefit, if found eligible by the Department of Labor and Industries.
PERS 1 members were vested after the completion of five years of eligible service. The plan was closed to new entrants on
September 30, 1977.
Contributions
The PERS Plan 1 member contribution rate is established by State statute at 6 percent. The employer contribution rate is
developed by the Office of the State Actuary and includes an administrative expense component that is currently set at 0.18
City of Bremerton / 46
percent. Each biennium, the state Pension Funding Council adopts Plan 1 employer contribution rates. The PERS Plan 1
required contribution rates (expressed as a percentage of covered payroll) for 2016 were as follows:
PERS Plan 1
Actual Contribution Rates:Employer Employee*
PERS Plan 16.23%6.00%
PERS Plan 1 UAAL4.77%6.00%
Administrative Fee0.18%
Total11.18%6.00%
* For employees participating in JBM, the contribution rate was 12.26%
l contributions to the plan were $663,672 for the year ended December 31, 2016.
PERS Plan 2/3 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the
-paid consecutive service months. There is no cap on years of service
credit. Members are eligible for retirement with a full benefit at 65 with at least five years of service credit. Retirement before
age 65 is considered an early retirement. PERS Plan 2/3 members who have at least 20 years of service credit and are 55 years
of age or older, are eligible for early retirement with a benefit that is reduced by a factor that varies according to age for each
year before age 65. PERS Plan 2/3 members who have 30 or more years of service credit and are at least 55 years old can retire
under one of two provisions:
With a benefit that is reduced by three percent for each year before age 65; or
With a benefit that has a smaller (or no) reduction (depending on age) that imposes stricter return-to-work rules.
PERS Plan 2/3 members hired on or after May 1, 2013 have the option to retire early by accepting a reduction of five percent
for each year of retirement before age 65. This option is available only to those who are age 55 or older and have at least 30
years of service credit. PERS Plan 2/3 retirement benefits are also actuarially reduced to reflect the choice of a survivor benefit.
Other PERS Plan 2/3 benefits include duty and non-duty disability payments, a cost-of-living allowance (based on the CPI),
capped at three percent annually and a one-time duty related death benefit, if found eligible by the Department of Labor and
Industries. PERS 2 members are vested after completing five years of eligible service. Plan 3 members are vested in the
defined benefit portion of their plan after ten years of service; or after five years of service if 12 months of that service are
earned after age 44.
PERS Plan 3 defined contribution benefits are totally dependent on employee contributions and investment earnings on those
contributions. PERS Plan 3 members choose their contribution rate upon joining membership and have a chance to change
rates upon changing employers. As established by statute, Plan 3 required defined contribution rates are set at a minimum of 5
percent and escalate to 15 percent with a choice of six options. Employers do not contribute to the defined contribution
benefits. PERS Plan 3 members are immediately vested in the defined contribution portion of their plan.
Contributions
The PERS Plan 2/3 employer and employee contribution rates are developed by the Office of the State Actuary to fully fund
Plan 2 and the defined benefit portion of Plan 3. The Plan 2/3 employer rates include a component to address the PERS Plan 1
UAAL and an administrative expense that is currently set at 0.18 percent. Each biennium, the state Pension Funding Council
adopts Plan 2 employer and employee contribution rates and Plan 3 contribution rates. The PERS Plan 2/3 required
contribution rates (expressed as a percentage of covered payroll) for 2016 were as follows:
PERS Plan 2/3
Actual Contribution Rates:Employer 2/3 Employee 2*
PERS Plan 2/36.23%6.12%
PERS Plan 1 UAAL4.77%
Administrative Fee0.18%
Employee PERS Plan 3varies
Total11.18%6.12%
* For employees participating in JBM, the contribution rate was 15.30%
City of Bremerton / 47
773,957 for the year ended December 31, 2016.
PSERS Plan 2 was created by the 2004 Legislature and became effective July 1, 2006. To be eligible for membership, an
employee must work on a full time basis and:
Have completed a certified criminal justice training course with authority to arrest, conduct criminal investigations,
enforce the criminal laws of Washington, and carry a firearm as part of the job; or
Have primary responsibility to ensure the custody and security of incarcerated or probationary individuals; or
Function as a limited authority Washington peace officer, as defined in RCW 10.93.020; or
Have primary responsibility to supervise eligible members who meet the above criteria.
PSERS membership includes:
PERS 2 or 3 employees hired by a covered employer before July 1, 2006, who met at least one of the PSERS
eligibility criteria and elected membership during the period of July 1, 2006 to September 30 2006; and
Employees hired on or after July 1, 2006 by a covered employer, that meet at least one of the PSERS eligibility
criteria.
PSERS covered employers include:
Certain State of Washington agencies (Department of Corrections, Department of Natural Resources, Gambling
commission, Liquor Control Board, Parks and Recreation Commission, and Washington State Patrol),
Washington State Counties,
Washington State Cities (except for Seattle, Spokane, and Tacoma),
Correctional entities formed by PSERS employers under the Interlocal Cooperation Act.
PSERS Plan 2 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the
average final compensation (AFC) for each year of servi
or
more service credit years in PSERS), or less than 65 (with fewer than ten service credit years). There is no cap on years of
service credit. Members are eligible for retirement at the age of 65 with five years of service; or at the age of 60 with at least ten
years of PSERS service credit; or at age 53 with 20 years of service. Retirement before age 60 is considered an early
retirement. PSERS members who retire prior to the age of 60 receive reduced benefits. If retirement is at age 53 or older with
at least 20 years of service, a three percent per year reduction for each year between the age at retirement and age 60 applies.
PSERS Plan 2 retirement benefits are actuarially reduced to reflect the choice of a survivor benefit. Other benefits include duty
and non-duty disability payments, an optional cost-of living adjustment (COLA), and a one-time duty-related death benefit, if
found eligible by the Department of Labor and Industries. PSERS Plan 2 members are vested after completing five years of
eligible service.
Contributions
The PSERS Plan 2 employer and employee contribution rates are developed by the Office of the State Actuary to fully fund
Plan 2. The Plan 2 employer rates include components to address the PERS Plan 1 unfunded actuarial accrued liability and
administrative expense currently set at 0.18 percent. Each biennium, the state Pension Funding Council adopts Plan 2 employer
and employee contribution rates.
The PSERS Plan 2 required contribution rates (expressed as a percentage of current-year covered payroll) for 2016 were as
follows:
City of Bremerton / 48
PSERS Plan 2
Actual Contribution Rates:Employer Employee
PSERS Plan 26.59%6.59%
PERS Plan 1 UAAL4.77%
Administrative Fee0.18%
Total11.54%6.59%
tual contributions to the plan were $10,081 for the year ended December 31, 2016.
LEOFF membership includes all full-time, fully compensated, local law enforcement commissioned officers, firefighters, and
as of July 24, 2005, emergency medical technicians. LEOFF is comprised of two separate defined benefit plans.
LEOFF Plan 1 provides retirement, disability and death benefits. Retirement benefits are determined per year of service
calculated as a percent of final average salary (FAS) as follows:
20+ years of service 2.0% of FAS
10-19 years of service 1.5% of FAS
5-9 years of service 1% of FAS
The FAS is the basic monthly salary received at the time of retirement, provided a member has held the same position or rank
thin
the last ten years of service. Members are eligible for retirement with five years of service at the age of 50. Other benefits
include duty and non-duty disability payments, a cost-of living adjustment (COLA), and a one-time duty-related death benefit,
if found eligible by the Department of Labor and Industries. LEOFF 1 members were vested after the completion of five years
of eligible service. The plan was closed to new entrants on September 30, 1977.
Contributions
Starting on July 1, 2000, LEOFF Plan 1 employers and employees contribute zero percent, as long as the plan remains fully
funded. The LEOFF Plan I had no required employer or employee contributions for fiscal year 2016.Employers paid only the
administrative expense of 0.18 percent of covered payroll.
LEOFF Plan 2 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the
final average salary (FAS) per year of service (the FAS is based on the highest consecutive 60 months). Members are eligible
for retirement with a full benefit at 53 with at least five years of service credit. Members who retire prior to the age of 53
receive reduced benefits. If the member has at least 20 years of service and is age 50, the reduction is three percent for each
year prior to age 53. Otherwise, the benefits are actuarially reduced for each year prior to age 53. LEOFF 2 retirement benefits
are also actuarially reduced to reflect the choice of a survivor benefit. Other benefits include duty and non-duty disability
payments, a cost-of-living allowance (based on the CPI), capped at three percent annually and a one-time duty-related death
benefit, if found eligible by the Department of Labor and Industries. LEOFF 2 members are vested after the completion of five
years of eligible service.
Contributions
The LEOFF Plan 2 employer and employee contribution rates are developed by the Office of the State Actuary to fully fund
Plan 2. The employer rate included an administrative expense component set at 0.18 percent. Plan 2 employers and employees
are required to pay at the level adopted by the LEOFF Plan 2 Retirement Board. The LEOFF Plan 2 required contribution rates
(expressed as a percentage of covered payroll) for 2016 were as follows:
LEOFF Plan 2
Actual Contribution Rates:Employer Employee
State and local governments5.05%8.41%
Administrative Fee0.18%
Total5.23%8.41%
Ports and Universities8.41%8.41%
Administrative Fee0.18%
Total8.59%8.41%
City of Bremerton / 49
utions to the plan were $560,851 for the year ended December 31, 2016.
The Legislature, by means of a special funding arrangement, appropriates money from the state General Fund to supplement the
current service liability and fund the prior service costs of Plan 2 in accordance with the recommendations of the Pension
Funding Council and the LEOFF Plan 2 Retirement Board. This special funding situation is not mandated by the state
constitution and could be changed by statute. For the state fiscal year ending June 30, 2016, the state contributed $58,339,032
to LEOFF Plan 2.
Actuarial Assumptions
The total pension liability (TPL) for each of the DRS plans was determined using the most recent actuarial valuation completed
in 2016 with a valuation date of June 30, 2016. The actuarial assumptions used in the valuation were based on the results of the
2007-2012 Experience Study.
Additional assumptions for subsequent events and law changes are current as of the 2015 actuarial valuation report. The TPL
was calculated as of the valuation date and rolled forward to the measurement date of June 30, 2016. Plan liabilities were rolled
forward from June 30, 2015, to June 30, 2016-age cost method), assumed
interest and actual benefit payments.
Inflation:3% total economic inflation; 3.75% salary inflation
Salary increases:In addition to the base 3.75% salary inflation assumption, salaries are also expected to grow by
promotions and longevity.
Investment rate of return:7.5%
Mortality rates were based on the RP-2000
Society of Actuaries. The OSA applied offsets to the base table and recognized future improvements in mortality by projecting
the mortality rates using 100 percent Scale BB. Mortality rates are applied on a generational basis; meaning, each member is
assumed to receive additional mortality improvements in each future year throughout his or her lifetime.
There were minor changes in methods and assumptions since the last valuation.
The OSA updated demographic assumptions, consistent with the changes from the 2007-2012 Experience Study
Report, used when valuing the PERS 1 and TERS 1 Basic Minimum COLA.
the entry age normal actuarial cost
method. Previously, the funding age was rounded, resulting in an entry age one year higher in some cases.
For purposes of calculating the Plan 2/3 Entry Age Normal Cost contribution rates, the OSA now uses the current
blend of Plan 2 and Plan 3 salaries rather than using a long-term membership assumption of two-thirds Plan 2
members and one-third Plan 3 members.
The OSA changed the way it applies salary limits, as described in the 2007-2012 Experience Study Report.
Discount Rate
The discount rate used to measure the total pension liability for all DRS plans was 7.5 percent.
To determine that rate, an asset sufficiency test included an assumed 7.7 percent long-term discount rate to determine funding
liabilities for calculating future contribution rate requirements. (All plans use 7.7 percent except LEOFF 2, which has assumed
7.5 percent). Consistent with the long-term expected rate of return, a 7.5 percent future investment rate of return on invested
assets was assumed for the test. Contributions from plan members and employers are assumed to continue being made at
contractually required rates (including PERS 2/3, PSERS 2, SERS 2/3, and TRS 2/3 employers, whose rates include a
component for the PERS 1, and TRS 1 plan liab
was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term
expected rate of return of 7.5 percent was used to determine the total liability.
Long-Term Expected Rate of Return
The long-term expected rate of return on the DRS pension plan investments of 7.5 percent was determined using a building-
block-method. The Washington State Investment Board (WSIB) used a best estimate of expected future rates of return
City of Bremerton / 50
(expected returns, net of pension plan investment expense, including inflation) to develop each major asset class. Those
B uses the capital market
assumptions and their target asset allocation to simulate future investment returns at various future times. The long-term
expected rate of return of 7.5 percent approximately equals the median of the simulated investment returns over a 50-year time
horizon.
Estimated Rates of Return by Asset Class
t allocation as
of June 30, 2016, are summarized in the table below. The inflation component used to create the table is 2.2 percent and
-term estimate of broad economic inflation.
% Long-Term Expected Real
Asset ClassTarget Allocation
Rate of Return Arithmetic
Fixed Income20%1.70%
Tangible Assets5%4.40%
Real Estate15%5.80%
Global Equity
37%6.60%
Private Equity
23%9.60%
100%
Sensitivity of Net Pension Liability
The of the net pension liability calculated using the discount rate of 7.5
percent, as well as what the city proportionate share of the net pension liability would be if it were calculated using a discount
rate that is 1-percentage point lower (6.5 percent) or 1-percentage point higher (8.5 percent) than the current rate.
Current Discount
1% Decrease1% Increase
Rate
6.50%7.50%8.50%
PERS 1 $ 7,691,840 $ 6,378,508 $ 5,248,306
PERS 2/3 $ 12,528,669 $ 6,804,696 $ (3,542,237)
PSERS 2 $ 75,094 $ 17,294 $ (23,877)
LEOFF 1 $ (1,066,398) $ (1,795,160) $ (2,418,089)
LEOFF 2 $ 6,184,162 $ (2,205,262) $ (8,528,452)
Pension Plan Fiduciary Net Position
ial
report.
Pension Liabilities (Assets), Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
At June 30, 2016, the City reported a total pension liability of $9,200,076 for its proportionate share of the net pension liabilities
as follows:
Liability (or Asset)
PERS 1 $ 6,378,508
PERS 2/3 $ 6,804,696
PSERS 2 $ 17,294
LEOFF 1 $ (1,795,160)
LEOFF 2 $ (2,205,262)
City of Bremerton / 51
The amount of the asset reported above for LEOFF Plan 2 reflects a reduction for State pension support provided to the city.
The amount recognized by the city as its proportionate share of the net pension asset, the related State support, and the total
portion of the net pension asset that was associated with the city were as follows:
LEOFF 1 AssetLEOFF 2 Asset
Employer's proportionate share $ (1,795,160) $ (2,205,262)
State's proportionate share of the net pension
$ (12,142,418) $ (1,437,670)
asset associated with the employer
TOTAL $ (13,937,578) $ (3,642,932)
At June 30, 2016 proportionate share of the collective net pension liabilities was as follows:
Proportionate Share Proportionate Share Change in
6/30/156/30/16Proportion
PERS 10.1237%0.1188%-0.0049%
PERS 2/30.1429%0.1352%-0.0077%
PSERS 20.0427%0.0469%0.0042%
LEOFF 10.1757%0.1742%-0.0015%
LEOFF 20.3975%0.3792%-0.0183%
Employer contribution transmittals received and processed by the DRS for the fiscal year ended June 30 are used as the basis
Schedules of
Employer and Nonemployer Allocations for all plans except LEOFF 1.
LEOFF Plan 1 allocation percentages are based on the total historical employer contributions to LEOFF 1 from 1971 through
2000 and the retirement benefit payments in fiscal year 2016. Historical data was obtained from a 2011 study by the Office of
the State Actuary (OSA). In fiscal year 2016, the state of Washington contributed 87.12 percent of LEOFF 1 employer
contributions and all other employers contributed the remaining 12.88 percent of employer contributions. LEOFF 1 is fully
funded and no further employer contributions have been required since June 2000. If the plan becomes underfunded, funding
of the remaining liability will require new legislation. The allocation method the plan chose reflects the projected long-term
contribution effort based on historical data.
In fiscal year 2016, the state of Washington contributed 39.80 percent of LEOFF 2 employer contributions pursuant to RCW
41.27.726 and all other employers contributed the remaining 60.20 percent of employer contributions.
The collective net pension liability (asset) was measured as of June 30, 2016, and the actuarial valuation date on which the total
pension liability (asset) is based was as of June 30, 2015, with update procedures used to roll forward the total pension liability
to the measurement date.
Pension Expense
For the year ended December 31, 2016, the city recognized pension expense as follows:
Pension Expense
PERS 1 $ (95,600)
PERS 2/3 $ (922,544)
PSERS $ (12,543)
LEOFF 1 $ 217,430
LEOFF 2 $ (740,365)
TOTAL $ (1,553,622)
City of Bremerton / 52
Deferred Outflows of Resources and Deferred Inflows of Resources
At December 31, 2016, the city reported deferred outflows of resources and deferred inflows of resources related to pensions
from the following sources:
Deferred Outflows of Deferred Inflows of
PERS 1
ResourcesResources
Differences between expected and actual
$ - $ -
experience
Net difference between projected and
actual investment earnings on pension $ 160,601 $ -
plan investments
Changes of assumptions $ - $ -
Changes in proportion and differences
between contributions and proportionate $ - $ -
share of contributions
Contributions subsequent to the
$ 323,617 $ -
measurement date
TOTAL 484,218 -
Deferred Outflows of Deferred Inflows of
PERS 2-3
ResourcesResources
Differences between expected and actual
$ 362,345 $ (224,634)
experience
Net difference between projected and
actual investment earnings on pension $ 832,698 $ -
plan investments
Changes of assumptions $ 70,332 $ -
Changes in proportion and differences
between contributions and proportionate $ 123,922 $ (244,030)
share of contributions
Contributions subsequent to the
$ 380,218 $ -
measurement date
TOTAL 1,769,515 (468,664)
City of Bremerton / 53
Deferred Outflows of Deferred Inflows of
PSERS
ResourcesResources
Differences between expected and actual
$ 5,891 $ -
experience
Net difference between projected and
actual investment earnings on pension $ 3,567 $ -
plan investments
Changes of assumptions $ 67 $ -
Changes in proportion and differences
between contributions and proportionate $ 1,145 $ (173)
share of contributions
Contributions subsequent to the
$ 5,574 $ -
measurement date
TOTAL 16,244 (173)
Deferred Outflows of Deferred Inflows of
LEOFF 1
ResourcesResources
Differences between expected and actual
$ - $ -
experience
Net difference between projected and
actual investment earnings on pension $ 182,475 $ -
plan investments
Changes of assumptions $ - $ -
Changes in proportion and differences
between contributions and proportionate $ - $ -
share of contributions
Contributions subsequent to the
$ - $ -
measurement date
TOTAL 182,475 -
Deferred Outflows of Deferred Inflows of
LEOFF 2
ResourcesResources
Differences between expected and actual
$ 302,180 $ -
experience
Net difference between projected and
actual investment earnings on pension $ 792,439 $ -
plan investments
Changes of assumptions $ 8,315 $ -
Changes in proportion and differences
$ 123,569 $ (8,589)
between contributions and proportionate
share of contributions
Contributions subsequent to the
$ 276,736 $ -
measurement date
TOTAL 1,503,239 (8,589)
City of Bremerton / 54
Deferred outflows of resources related to pensions resulting from the city contributions subsequent to the measurement date
will be recognized as a reduction of the net pension liability in the year ended December 31, 2016. Other amounts reported as
deferred outflows and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Year ended December 31:PERS 1
2017 $ (39,543)
2018 $ (39,543)
2019 $ 147,495
2020 $ 92,193
Total$ 160,602
Year ended December 31:PERS 2/3
2017 $ (19,925)
2018 $ (19,925)
2019 $ 581,086
2020 $ 379,397
Total$ 920,633
Year ended December 31:PSERS
2017 $ 1,362
2018 $ 1,362
2019 $ 3,560
2020 $ 2,832
2021 $ 1,387
Thereafter $ (7)
Total$ 10,496
Year ended December 31:LEOFF 1
2017 $ (37,709)
2018 $ (37,709)
2019 $ 158,037
2020 $ 99,856
Total$ 182,475
Year ended December 31:LEOFF 2
2017 $ 11,912
2018 $ 11,912
2019 $ 677,460
2020 $ 473,488
2021 $ 43,141
Total$ 1,217,913
City of Bremerton / 55
9. Risk Management
destruction of assets, errors and omissions, property damage and injury of others. Smaller losses are self-insured while
comUtility funds participate
in financing the Risk Management Fund.
2016 insurance coverage and risk retention:
Coverage LimitSelf-Insured
RiskPer OccurrenceRetentionInsurer
Excess liability
$10,000,000$500,000Lexington Insurance Company
Excess workers' compensation
Statutory500,000Midwest Employers Casualty Company
Blanket property100,000,000100,000Lexington Insurance Cormpany
Employee blanket bond1,000,00025,000Great American Insurance Company
Pollution legal liability1,000,000100,000Indian Harbor Insurance Company
The risk manager and claims administrators establish reserves for open claims on a case by case basis, after an assessment of
-term liability of the fund for both reported and
unreported losses. As of December 31, 2016, the Risk Management Fund had cash and investment reserves of $1,112,798. In
September 2010 the City cash- the Department of Labor & Industries
in the amount of $468,669. The Statement of Net Position for the Risk Management fund includes the unspent portion of this
amount in prepayments. Long-term fund liabilities have been estimated at $1,344,286. Cash balances adequate to pay
currently due claims have been available in the fund since its inception in 1986. In the last three years, no settlement has
exceeded the limit of liability on applicable insurance policies. The expected annual level of incurred claims is approximately
$354,462.
The following table shows the actual claims activity for 2015 and 2016:
20152016
Claims liability - beginning of year$ 998,999$ 1,154,731
Claims incurred340,650726,748
Estimate change prior years116,248206,073
Payment on claims(301,166)(388,804)
Claims liability - end of year $ 1,154,731 $ 1,698,748
City of Bremerton / 56
10. Long-term Debt
A. Long Term Debt
The City issues general obligation and revenue bonds to finance the purchase or construction of capital assets. Bonded
indebtedness has also been entered into in prior years to advance refund G.O. bonds. General obligation bonds have
been issued for both general government and business-type activities and are being repaid from the applicable
resources. The revenue bonds are repaid with proprietary fund revenues.
General obligation bonds currently outstanding are as follows:
MaturityInterestOutstanding
DateRate12/31/2016
2010 LTGO BABS09/01/353.615,820,000$
2010 UTGO Refunding12/01/273.077,585,000
2010 LTGO (B) BABS12/01/303.421,700,000
2012 LTGO Refunding - Govt Center12/31/214.004,515,000
2013 LTGOA Refunding - Conf Ctr Pkg12/01/363.017,830,000
2013 LTGOB Refunding - Golf Course12/01/283.014,225,000
2015 UTGO Fire Bonds12/01/252.023,785,000
Total General Obligation Bonds and Notes$ 35,460,000
The annual debt service requirements to maturity for general obligation bonds are as follows:
Year EndingGovernmental ActivitiesBusiness Activities
December 31PrincipalInterestPrincipalInterest
20171,715,0001,223,537300,000125,785
20181,770,0001,176,978315,000121,585
20191,820,0001,123,837320,000116,230
20201,880,0001,068,797325,000109,670
2021-202510,520,0004,286,0851,755,000412,465
2026-20307,325,0002,285,1531,210,00095,745
2031-20355,640,000864,1070
2036-2040565,00020,905
Total$ 31,235,000$ 12,049,399$ 4,225,000$ 981,480
City of Bremerton / 57
Revenue bonds and loans currently outstanding are as follows:
MaturityInterestOutstanding
DateRate12/31/2016
W/S REF & REVENUE BOND 200712/1/20214.282,080,000
W/S REF & REVENUE BOND 201412/1/20343.851,831,050
W/S REF & REVENUE BOND 201412/1/20343.854,588,950
W/S REF & REVENUE BOND 201612/1/20353.857,855,001
PWTF CALLOW CSO PRIORITY II7/1/20171.035,252
PWTF SR 303 WATER MAIN7/1/20181.00331,579
PWTF CSO REDUCTION DESIGN7/1/20201.00146,378
PWTF EAST BREMERTON CSO7/1/20210.50791,667
PWTF MULTI BASIN CSO7/1/20201.00597,303
PWTF CALLOW CSO PRI. 3 / 57/1/20201.00893,718
PWTF ANDERSON COVE BASIN 127/1/20230.50201,943
PWTF NAVAL AVE7/1/20234.0092,105
PWTF BRENTWOOD STORM DRAIN REPAIR7/1/20244.0078,914
PWTF PACIFIC AVE BASIN CSO7/1/20240.50559,819
PWTF TRACYTON WATER SYS PH 27/1/20192.0029,722
PWTF WWTP UPGRADE7/1/20250.5096,053
PWTF ANDERSON COVE SEW PS CW17/1/20270.50390,789
PWTF WWTP UPGRADES7/1/20270.501,792,564
CCWF CALLOW CSO DESIGN5/1/20170.018,635
CCWF CALLOW CSO PRIORITY I PH 17/31/20184.80395,289
DWSRF CORROSION CONTROL 10/1/20184.00110,033
DWSRF CASAD DAM VALVE REPL10/1/20231.5030,806
DWSRF EASTSIDE FLOW & PRESSURE IMP10/1/20222.50366,121
DWSRF SEISMIC UPGRADE10/1/20222.50235,655
DWSRF ANDERSON CREEK10/1/20241.5043,054
DWSRF PUMP STATION 4 UPGRADE10/1/20231.50403,279
DWSRF SEISMIC UPGRADES10/1/20241.50226,386
DWSRF TRACYTON WD UPGRADE10/1/20212.50697,911
DWSRF SEISMIC VALVE FLOW CONTROL12/1/20361.50924,123
WPCRF CSO PLAN UPDATE12/31/20221.5085,387
WPCRF ANDERSON COVE CSO2/27/20211.50246,916
WPCRF CALLOW DESIGN FINAL12/31/20221.50197,472
WPCRF ANDERSON COVE CSO1/23/20221.50199,795
WPCRF TRENTON/CHERRY10/15/20241.50457,243
WPCRF ANDERSON COVE BASIN 129/17/20261.50143,807
WPCRF TRENTON PUMP STATION10/15/20241.50456,948
WPCRF TRACYTON BEACH CSO2/9/20251.50281,743
WPCRF PACIFIC AVE CSO RED - SEP6/30/20241.50159,876
WPCRF PACIFIC AVE CSO REDUCTION12/31/20271.50637,711
WPCRF CHERRY/TRENTON CSO RED -F12/31/20261.50604,826
WPCRF WWTP UPGRADE1/1/20292.60440,814
WPCRF GORST SEWERAGE CONSTR12/31/20301.40448,325
WPCRF GORST SEWERAGE CONSTR10/17/20321.4044,995
WPCRF GORST SEPTIC SYSTEM DES12/31/20302.9088,338
WPCRF GORST SEWERAGE DESIGN12/31/20301.40431,895
Total revenue bonds and loans30,770,190
City of Bremerton / 58
Revenue bond and loan debt service requirements to maturity are as follows:
Year EndingGovernmental ActivitiesBusiness Activities
December 31PrincipalInterestPrincipalInterest
2017$ -$ -$ 3,190,636$ 851,425
2018--3,229,000738,661
2019--2,848,871671,993
2020--2,828,309611,924
2021--2,475,350554,601
2022-2026--7,256,7412,166,437
2027-2031--5,250,1621,271,822
2032-2035--3,691,121336,259
Total$ -$ -$ 30,770,190$ 7,203,122
In proprietary funds bonds are displayed net of premium or discount. Annual interest expense is decreased by
amortization of debt premium and increased by the discount.
At December 31, 2016, the city has $416,762 available in debt service funds to service the general bonded debt.
Restricted assets in proprietary funds contain $2,010,203 in sinking funds and reserves as required by bond indentures.
B. Refunded Debt
In prior years, the City defeased certain general obligation bonds by placing the proceeds of new bonds in an irrevocable
trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the
liability for defeased bonds are not included in the tements. At December 31, 2016 there were no
defeased bonds outstanding
11.Changes in Long Term Liabilities
During the year ended December 31, 2016, the following changes occurred in long-term liabilities:
BeginningEnding
BalanceBalanceDue Within
1/1/2016AdditionsReductions12/31/2016One Year
Governmental Activities:
Bonds payable:
General obligation bonds$ 32,920,000$ -$ 1,685,00031,235,000$ 1,715,000
Notes Payable-----
Add unamortized premiums1,109,423-83,5521,025,87183,552
Total bonds payable:34,029,423-1,768,55232,260,8711,798,552
Claims and judgments1,154,731544,017-1,698,748354,462
Compensated absences2,576,38942,08787,6582,530,8181,082,598
Self Insurance 596,478-200,846395,632395,632
Other Post Employment Benefits3,136,3361,685,417- 4,821,7534,821,753
Pension Liability6,636,2291,131,554- 7,767,783-
Governmental activity
long-term liabilities:$ 48,129,586$ 3,403,075$ 2,057,056$ 49,475,605$ 8,452,997
City of Bremerton / 59
BeginningEnding
BalanceBalanceDue Within
1/1/2016AdditionsReductions12/31/2016One Year
Business-type Activities:
Bonds payable:
General obligation bonds$ 4,510,000$ - $ 285,000$ 4,225,000$ 300,000
Revenue bonds9,120,0007,855,000620,00016,355,000620,000
Add unamortized premiums527,7031,004,22936,6671,495,26536,667
Total bonds payable:14,157,70322,075,265956,667
Intergovernmental loans15,881,104925,8632,391,77814,415,1892,224,228
Compensated Absences691,38033,132658,248254,537
Pension Liability4,358,1261,074,590- 5,432,716-
Business-type activity
long-term liabilities:$ 35,088,313$ 2,000,453$ 2,424,910$ 42,581,418$ 3,435,432
The Risk Management, Equipment Maintenance and Information Technology internal service funds predominantly serve
the governmental funds. Accordingly, long-term liabilities for them are included as part of the above totals for
governmental activities. At year end $2,094,380 of Risk Management claims and judgments and $42,087 of
compensated absences are included in the above governmental activities amounts.Also, for the governmental activities,
compensated absences are generally liquidated by the Accrued leave liability internal service fund and claims and
judgments by the Risk Management internal service fund.
12. Contingencies and Litigation
As of December 31, 2016, there were a small number of claims for damages and lawsuits pending against the City. In the
tial
liability arising from all actions currently pending would materially affect the financial condition of the City.
As discussed in Note 10, Long-Term Debt, the City is contingently liable for repayment of refunded debt.
The City participates in a number of federal and state assistance programs. These grants are subject to audit by the grantor or
their representatives. Such audits could result in requests for reimbursement to grantor agencies for expenditures disallowed
under the terms of the grants. Management believes that such disallowances, if any, will be immaterial.
13. Restricted Net Position
The government-wide statement of net position reports $7,876,416 of restricted net position, all of which is restricted by
enabling legislation and external contractual commitments.
14. Interfund Balances and Transfers
A. Interfund Balances
Interfund balances at December 31, 2016, were as follows:
City of Bremerton / 60
Interfund balances at year end were a result of outstanding interfund loans as well as amounts due for services provided
between funds. Amounts due for services will be liquidated early in 2016. Interfund loans are approved by City
Council Resolution and include a repayment date. The following schedule is a summary of loans outstanding at year
end including the year of final payment.
Loaned To
Yr of finalGeneral
Loaned FromPurposePaymentFundGolf CourseTotal
WaterPark Land2025$ 126,774$ -126,774
Internal serviceEquipment purchase2016 118,152-118,152
Internal serviceConference Ctr Exp2020500,000 500,000-
Total$ 626,774$ 118,152$ 744,926
B. Interfund Transfers
Interfund transfers at December 31, 2016 were as follows:
Transfer From
GeneralOtherWaste-Other
FundGovtWaterWaterProprietaryTotal
General Fund$ -$ 640,756$ -$ -$ -$ 640,756
Other governmental funds785,7351,162,582542,9241,216,825397,5424,105,609
Water 8,324--- 8,324-
Wastewater 42,372--- 42,372-
Other proprietary funds 201,021--- 201,021-
Fiduciary funds-
Internal Service------
Reconciliationofbalancesinfund
financialstatementstogovernment-wide- 64,329-792,177291,1401,147,646
financial statements
Total$ 785,735$2,055,055$ 607,253$2,009,002$ 688,682$6,145,727
Interfund transfers are the flow of assets without equivalent flows of assets in return and without a requirement for
repayment. Generally funds flow between funds with tax or other resources to funds for payment of debt service,
capital construction or in support of operations. This category also includes payment in lieu of taxes levied by the
General fund on city utility funds that are not payments for, and are not reasonably equivalent in value to, services
provided.
Significant transfers during 2016 were as follows:
There were no significant transfers in 2016.
City of Bremerton / 61
1
5. Receivable and Payable Balances
A.Receivables
Receivables at December 31, 2016, were as follows:
SpecialNotes
AccountsTaxesAssessmentsContractsOtherTotal
Governmental Activities:
General Fund$1,924,490$2,304,423$ -$ 7,592$ -$4,236,505
Non-major and other funds233,557397,821-99,670-731,048
Reconciliation of balances in fund
financial statements to government-wide
financial statements
----23,18323,183
Total governmental activities$2,158,047$2,702,244$ -$ 107,262$ 23,183$4,990,736
Business-Type Activities:
Water$1,879,184$ -$ 325,400$ 314,594$ -$2,519,178
Golf----43,68543,685
Wastewater2,631,39013,869---2,645,259
Stormwater627,331----627,331
Reconciliation of balances in fund
financial statements to government-wide
financial statements--- ---
Total business-type activities$ 5,137,905$ 13,869$ 325,400$ 314,594$ 43,685$ 5,835,453
B.Payables
Accounts Payable and other current liabilities at December 31, 2016 were as follows:
VendorsRetainageOtherTotal
Governmental Activities:
General Fund$ 560,445$ -$ 17,885$ 578,330
Non-major and other funds668,07751,642495$ 720,214
Reconciliation of balances in fund
financial statements to government-
wide financial statements
- 67,179-67,179
Total governmental activities$ 1,228,522$ 51,642$ 85,559$ 1,365,723
City of Bremerton / 62
VendorsRetainageOtherTotal
Business-Type Activities:
Water$ 459,764$ 71,327$ -$ 531,091
Golf94,638--94,638
Wastewater466,08922,698-488,787
Stormwater90,8871,127-92,014
Reconciliation of balances in fund
financial statements to government-
wide financial statements----
Total business-type activities$ 1,111,378$ 95,152$ -$ 1,206,530
16.Post-Employment Benefits other than Pension
Statement No. 45 of the Governmental Accounting Standards Board, Accounting and Financial Reporting by Employers
for Postemployment Benefits Other Than Pensions, establishes standards for reporting of post-employment benefits other
than pensions for financial statement for periods beginning after December 15, 2007.
Plan Description
As required by the Revised Code of Washington (RCW) Chapter 41.26, the City provides lifetime medical care for
members of the Law Enforcement Officers and Firefighters (LEOFF) retirement system hired before October 1, 1977
under a defined benefit healthcare plan administered by the City. The members necessary hospital, medical, and nursing
care ex
pension plan, or any other similar source are covered. Most medical coverage for eligible retirees is provided by one of
l insurance programs. Under the authorization of the LEOFF Disability Board, direct
payment is made for other retiree medical expenses not covered by standard medical plan benefit provisions. Finance
reporting for the LEOFF retiree healthcare plan is inc
Funding Policy
policy is based upon pay-as-you-go financing requirements.
Annual OPEB Cost and Net OPEB Obligation
(ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC
represents a level of funding that, if paid on an ongoing basis, is projected to cover the normal cost each year and
amortize any unfunded actuarial liabilities over a period of fifteen years as of June 30, 2014. The following table shows
the componen
OPEB. The net OPEB obligation of $3,136,336 is included as a noncurrent liability on the Statement of
Net Position.
Fiscal Year Ending
12/31/16
Determination of Annual Required Contribution:
Annual Normal Cost $ 3,440,974
Interest on Amortization Payment125,453
Annual Required Contribution (ARC)$ 3,566,427
City of Bremerton / 63
Fiscal Year Ending
12/31/16
Determination of NET OPEB Obligation:
Annual Required Contribution$ 3,566,427
Adjustment to ARC(156,632)
Annual OPEB Cost$ 3,409,795
Contributions(1,724,377)
Change in Net OPEB Obligations$ 1,685,418
Net OPEB Obligations - beginning of year$ 3,136,336
Net OPEB Obligations - end of year$ 4,821,754
* Unfunded Actuarial Accrued Liability (UAAL)
st, the percentage OPEB cost contributed to the plan and the net OPEB Assets for 2016 and the
preceding three years, was as follows:
Fiscal yearAnnual OPEBContribution as a Net OPEB
EndedCostPercentage of OPEB CostObligation
12/31/20111,366,185$ 104.22%$ (414,716)
12/31/20121,515,169$ 97.88%$ (382,547)
12/31/20131,515,169$ 81.70%$ (105,296)
12/31/20141,515,169$ 83.20%$ 149,310
12/31/20154,255,852$ 29.81%$ 3,136,336
12/31/20163,409,795$ 50.57%$ 4,821,753
Funded Status and Funding Progress
As of December 31, 2016, is below 100 members. The City utilized the alternative
actuary method prescribe by the Office of the State Actuary and permitted und GASB Statement No. 45. A single
retirement age of 55.3 was assumed for all active members for the purpose of determining the AAL and normal cost. The
retirement, disability, termination and mortality rates were assumed to follow LEOFF 1 rates used in the June 2014
actuarial valuation report issued by the Office of The State Actuary (OSA). Healthcare costs and trends were determined
by Milliman and used by OSA in the state-wide LEOFF 1 medical study performed in 2013. The results were based on
grouped data with four active groupings and four inactive groupings. The actuarial cost method to determine the AAL
was the Projected Unit Credit. The AAL and NOO are amortized on an open basis as a level dollar over 15 years. These
assumptions are individual and collectively reasonable for the purposes of this valuation. The actuarial accrued liability
(AAL) for benefits was $39,652,915.
Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of
occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the
healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions
of the employer are subject to continual revision as actual results are compared with past expectations and new estimates
are made about the future. The schedule of funding progress presented as required supplementary information following
the notes to the financial statement, presents multiyear trend information that show whether the actuarial value of plan
assets is increasing or decreasing over time relative to the actuarial liabilities for benefits.
Actuarial Methods and Assumptions
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the
employer and the plan members) and include the types of benefits provided at the time of each valuation. The actuarial
methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in
actuarial accrued liabilities, consistent with the long-term perspective of the calculations.
In the December 31, 2011, actuarial valuation, the projected unit credit actuarial cost method was used. The actuarial
assumptions used included a 3.0% discount rate, which is based upon the long-term investment yield on the investments
that are expected to be used to finance payment of benefits. A medical inflation rate of 10% graded to 5% over six years
was used along with a long term care inflation rate of 3.0%.
City of Bremerton / 64
The UAAL is being amortized on an open amortization level dollar amount over 15 years.The remaining amortization
period at December 31, 2016 was 12.5 years.
17. Segment Information
The City operates a utility system providing water, wastewater and stormwater management services to the citizens of
Bremerton and a portion of Kitsap County outside city boundaries. Operations are financed by user fees imposed on
customers of each utility. The City has issued revenue bonds to finance improvements to its sewer system. While the
operations of each utility are accounted for in separate funds, the repayment of the revenue bonds relies on the combined
revenues of all three utilities. In addition, the City operates a public golf course whose operations are funded entirely
through user fees. With the exception of the combined utility, there are no revenue bonds issued or other revenue-
backed debt outstanding for which full, detailed segment data is not provided in the proprietary fund financial
statements.
The key financial data for the year ended December 31, 2016, for the combined utility operations are as follows:
Condensed Statement of Net Position
Assets and Deferred Outflows
Current assets$ 33,356,067
Restricted assets1,725,203
Capital assets165,698,238
Other assets265,500
Total assets201,045,008
Deferred outflows of resources811,052
Total assets and deferred outflows201,856,060
Liabilities and Deferred Inflows
Current liabilities4,966,208
Due to other funds542,815
Payable from restricted assets0
Long-term liabilities34,991,480
Total liabilities40,500,503
Deferred inflows of resources173,405
Total liabilities and deferred inflows40,673,908
Net Position
Restricted for debt service2,052,964
Restricted for capital replacement7,450,389
Unrestricted7,604,992
Net investment in capital assets144,073,807
Total net position$ 161,182,152
City of Bremerton / 65
Condensed Statement of Revenues, Expenses and Changes in Net Position
Total operating revenues$ 30,198,148
Operating Expenditures:
Operations & maintenance22,229,308
Depreciation/amortization/depletion5,797,410
Total operating expenses28,026,718
Operating income(loss)2,171,430
Non-Operating Revenues/Expenses
Interest revenue/expense (net)(449,439)
Other (net)(17,211)
Total non-operating revenues/expenses(466,650)
Condensed Statement of Revenues, Expenses and Changes in Net Position
Total operating revenues$ 30,198,148
Operating Expenditures:
Operations & maintenance22,229,308
Depreciation/amortization/depletion5,797,410
Total operating expenses28,026,718
Operating income(loss)2,171,430
Non-Operating Revenues/Expenses
Interest revenue/expense (net)(449,439)
Other (net)(17,211)
Total non-operating revenues/expenses(466,650)
Capital contributions1,934,760
Transfers24,056
Change in net position3,663,596
Beginning net position157,518,556
Prior period adjustment0
Ending net position$ 161,182,152
Condensed Statement of Cash Flows
Net cash provided By:
(a) Operating activities$ 8,784,416
(b) Noncapital financing activities(2,704)
(c) Capital and related financing activities1,647,826
(d) Investing activities(1,146,782)
Beginning cash and equivalents balance8,203,273
Ending cash and equivalents balance$ 17,486,029
City of Bremerton / 66
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67
/
Bremerton
of
City
59.10%
619,512
0.12367%1044.19%
20156,468,882
$
47.64%48.32%
0.11877%
20166,378,508
13,389,026
$
PERS 1
City of Bremerton
As of June 30, 2016
Last 10 Fiscal Years*
Schedule of Proportionate Share of the Net Pension Liability
Employer's proportion of the net pension liability (asset)Employer's proportionate share of the net pension liabilityEmployer's covered employee payrollEmployer's proportionate share
of the net pension liability as a percentage of covered employee payrollPlan fiduciary net position as a percentage of the total pension liabilityNotes to Schedule:* This schedule is
to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
68
/
Bremerton
of
City
44.06%89.20%
0.14288%
20155,105,327
11,587,654
$
53.90%51.55%
0.13515%
20166,804,696
12,623,875
$
PERS 2/3
City of Bremerton
As of June 30, 2016
Last 10 Fiscal Years*
Schedule of Proportionate Share of the Net Pension Liability
Employer's proportion of the net pension liability (asset)Employer's proportionate share of the net pension liabilityEmployer's covered employee payrollEmployer's proportionate share
of the net pension liability as a percentage of covered employee payrollPlan fiduciary net position as a percentage of the total pension liabilityNotes to Schedule:* This schedule is
to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
69
/
Bremerton
of
City
7,7946.16%
95.08%
126,609
0.04270%
2015
$
0.13%
17,29413.11%
131,920
0.04069%
2016
$
PSERS
City of Bremerton
As of June 30, 2016
Last 10 Fiscal Years*
Schedule of Proportionate Share of the Net Pension Liability
Employer's proportion of the net pension liability (asset)Employer's proportionate share of the net pension liability (asset)Employer's covered employee payrollEmployer's proportionate
share of the net pension liability as a percentage of covered employee payrollPlan fiduciary net position as a percentage of the total pension liabilityNotes to Schedule:* This schedule
is to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
70
/
Bremerton
of
City
122,729
0.17571%
(127.36%)
2015
(2,117,718)
(1725.52%)
$
126,465
(44.87%)
2016
17.42390%
(1,795,160)
(1419.49%)
$
LEOFF 1
City of Bremerton
As of June 30, 2016
Last 10 Fiscal Years*
Schedule of Proportionate Share of the Net Pension Liability
Employer's proportion of the net pension liability (asset)Employer's proportionate share of the net pension liability (asset)Employer's covered employee payrollEmployer's proportionate
share of the net pension liability as a percentage of covered employee payrollPlan fiduciary net position as a percentage of the total pension liabilityNotes to Schedule:* This schedule
is to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
71
/
Bremerton
of
City
(35.54%)
0.39748%
(111.67%)
2015
(4,085,289)(2,701,196)(6,786,485)
11,496,279
$ $ $
(19.20%)(88.74%)
0.37915%
2016
11,486,092
(2,205,262)(1,344,803)(3,550,065)
$ $ $
LEOFF 2
City of Bremerton
As of June 30, 2016
Last 10 Fiscal Years*
Schedule of Proportionate Share of the Net Pension Liability
Employer's proportion of the net pension liability (asset)Employer's proportionate share of the net pension liabilityState's proportionate share of the net pension liability (asset)
associated with the employerTOTALEmployer's covered employee payrollEmployer's proportionate share of the net pension liability as a percentage of covered employee payrollPlan fiduciary
net position as a percentage of the total pension liabilityNotes to Schedule:* This schedule is to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
72
/
Bremerton
of
City
-1
63,23763,23810.21%
619,512
2015
$ $
0
5%
663,672663,672
2016
13,155,996
$ $
PERS 1
City of Bremerton
Last 10 Fiscal Years*
As of Decmeber 31, 2016
Schedule of Employer Contributions
Contractually required contributionsContributions in relation to the contractually required contributionsContribution deficiency (excess)Employer's covered employee payrollContributions
as a percentage of covered employee payrollNotes to Schedule:* This schedule is to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
73
/
Bremerton
of
City
0
11.47%
20151,171,6441,171,644
11,587,654
$ $
0
6.23%
773,957773,957
2016
12,423,072
$ $
PERS 2/3
City of Bremerton
Last 10 Fiscal Years*
As of Decmeber 31, 2016
Schedule of Employer Contributions
Contractually required contributionsContributions in relation to the contractually required contributionsContribution deficiency (excess)Employer's covered employee payrollContributions
as a percentage of covered employee payrollNotes to Schedule:* This schedule is to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
74
/
Bremerton
of
City
0
13,98413,98411.05%
126,609
2015
$ $
0
6.59%
10,08110,081
152,968
2016
$ $
PSERS
City of Bremerton
Last 10 Fiscal Years*
As of Decmeber 31, 2016
Schedule of Employer Contributions
Contractually required contributionsContributions in relation to the contractually required contributionsContribution deficiency (excess)Employer's covered employee payrollContributions
as a percentage of covered employee payrollNotes to Schedule:* This schedule is to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
75
/
Bremerton
of
City
0
5.23%
601,255601,255
2015
11,496,279
$ $
0
5.05%
560,851560,851
2016
11,105,960
$ $
LEOFF 2
City of Bremerton
Last 10 Fiscal Years*
As of Decmeber 31, 2016
Schedule of Employer Contributions
Contractually required contributionsContributions in relation to the contractually required contributionsContribution deficiency (excess)Employer's covered employee payrollContributions
as a percentage of covered employee payrollNotes to Schedule:* This schedule is to be built prospectively until it contains ten years of data.
REQUIRED SUPPLEMENTARY INFORMATION
76
/
Page 1 of 3
Bremerton
6
of
5
- - - - - - - - - - - - - -
1561
28,85132,30461,15561,15560,99960,99961,155
City
Gift &
Donation
$$$ $
8
1
- - - - - - - - - - --
8174
,
7
10,49211,3091
532,173103,4464
251,062281,111532,173 520,864532,173
BKAT
$$$ $
4
7
3
8
- - - - - - - - - - - - - -
6
5
,,
8,58784
9
190,227212,994403,221403,2213394,634403,221
Projects
$$$
Police Special$
40
26
-
- - - - - -- - - - - - - -
58
,,
80
37,104
70
337,964
159,4401337,9643337,964337,964
Revolving
Abatement
$$$ $
50
9
92
0
- - - - -- -
44
2
,,
40
52,16726,58017,0005
252,021147,618579,703106,262579,703707,6693350,420
1,058,089
1,058,0891,058,089
Block Grant
Community
$$$
$
7
1
City of Bremerton
-
---------
December 31, 2016
3,525
66,058
Combining Balance Sheet
618,845156,909
166,965186,948264,932618,845226,509392,336392,336618,845
System
NonMajor Govermental Funds
Parking
$$$$
4
6
------------
8
,
9
31,05615,08315,083226,281
207,659232,513471,228471,2284456,145471,228
Tax
Lodging
$$$$
----------
74,51238,885
512,622573,975232,241117,362254,079292,964
1,510,7121,510,7121,217,7481,217,7481,510,712
Street
$$$$
Total fund balances
Accounts/contracts payableDue to other fundsDue to other governmentsEmployee wages payableCustodial AccountsUnearned revenue Total liabilitiesRestrictedCommittedAssignedUnassigned
ASSETS and DEFERRED OUTFLOWS of RESOURCESCash and cash equivalentsInvestmentsReceivablesDue from other fundsDue from other governmentsOther assetsTotal assetsDeferred outflows of resourcesTotal
assets and deferred outflows of resourcesLIABILITIES and FUND BALANCESLiabilities:Deferred Inflows of ResourcesFund balances:Total liabilities and fund balances
See accompanying notes to the finanical statements.
77
/
Page 2 of 3
Bremerton
of
City
----
--------
68,944 21,64721,647
196,615220,147 485,706 485,706 173,580 290,479464,059485,706
Service
Total Debt
$ $$ $
- - - -
- - - - - -- - -
7,1917,191
25,89328,99110,65265,53665,53658,34558,34565,536
Safety Bond
2015 Public
$ $$ $
- - - - - - -- - - - - - -- -
42,34847,41789,76589,76589,76589,76589,765
2012
LTGO
Center
Government $ $$ $
Debt Service
665
17088728
553
58477827
------------
44 2
463 4 4 704
,,, , , ,, , , ,,
070 8 8 44 5 8 48
6 6 2 4 4 1 1 1 1 34
1 1 1 1 1
2010
UTGO/
LTGO (B)
$ $$ $
32277777
25522222
-------
--------
90999999
,,
,,,,,,
71
671111
68
738888
1
1111
2010
LTGO
$ $$ $
----
495
City of Bremerton
December 31, 2016
53,603
20,525
736,612
580,396143,942222,130579,703453,870566,466
Combining Balance Sheet
1,831,1781,768,1615,125,5105,125,5101,265,1051,351,0401,942,8993,860,4055,125,510
Revenue
NonMajor Govermental Funds
Total Special
$$$$
-------
--------
24,03450,945
26,91150,94550,94550,94550,945
for Art
One Percent
Special Revenue
$$$$
-------------
2,8282,8285,674
38,29742,88181,17881,17872,67678,35081,178
Trial
Improvement
$
$$$
Total fund balances
Accounts/contracts payableDue to other fundsDue to other governmentsEmployee wages payableCustodial AccountsUnearned revenue Total liabilitiesRestrictedCommittedAssignedUnassigned
ASSETS and DEFERRED OUTFLOWS of RESOURCESCash and cash equivalentsInvestmentsReceivablesDue from other fundsDue from other governmentsOther assetsTotal assetsDeferred outflows of resourcesTotal
assets and deferred outflows of resourcesLIABILITIES and FUND BALANCESLiabilities:Deferred Inflows of ResourcesFund balances:Total liabilities and fund balances
See accompanying notes to the finanical statements.
78
/
Page 3 of 3
Bremerton
of
City
--
495
53,60315,00010,000
731,049220,115407,372579,703719,719194,849758,259566,466
7,113,9743,088,2191,741,9257,121,6412,700,400
Total
Funds
12,140,43212,140,43210,388,50712,140,432
Nonmajor
Governmental
-
-
-
- - - -
15,000
81,70976,17310,000
185,242265,849174,324455,173467,022
Total
5,086,1811,099,9116,529,2166,529,2165,597,0216,064,0436,529,216
Capital
Projects
$ $$ $
1
- -
- - - - - -- - - - - -
28,66432,09560,76060,76060,76060,76060,760
Avenue
Connector
Washington $ $$ $
58
493113381
83
538662236
------------
05
432116651
,,,,,,,,,,,
33939911779
89955449
Lebo Blvd.
$ $$ $
-----------------
Safety
4,103,8424,103,842
4,103,8424,103,8424,103,8424,103,842
Fire Public
$ $$ $
Capital Projects
City of Bremerton
December 31, 2016
Combining Balance Sheet
-------- ---
NonMajor Govermental Funds
15,00010,175
137,506153,964101,958393,428393,428107,879122,879260,374270,549393,428
Trans
Capital
Projects
$ $$ $
- - - - - - - ---
7,128
51,04057,14966,83448,34755,47510,000
175,023175,023109,548109,548175,023
Parks
Construction $ $$ $
-----------
81,70958,00036,340
762,044853,249167,196225,196
1,697,0021,697,0021,435,4661,471,8061,697,002
Cap Impr
$ $$ $
General Govt
Total fund balances
Accounts/contracts payableDue to other fundsDue to other governmentsEmployee wages payableCustodial AccountsUnearned revenue Total liabilitiesRestrictedCommittedAssignedUnassigned
ASSETS and DEFERRED OUTFLOWS of RESOURCESCash and cash equivalentsInvestmentsReceivablesDue from other fundsDue from other governmentsOther assetsTotal assetsDeferred outflows of resourcesTotal
assets and deferred outflows of resourcesLIABILITIES and FUND BALANCESLiabilities:Deferred Inflows of ResourcesFund balances:Total liabilities and fund balances
See accompanying notes to the finanical statements.
79
/
1 of 3
Bremerton
of
City
----------------------
1,4521,9515,3777,3286,8756,875
12,75114,203
54,12561,000
Gift &
Donation
$ $ $ $ $ $ $
-------------------
,143
4,2554,255
64,002
(80,953)(76,698)
295,523111,373470,898398153,708551,851
597,562520,864
BKAT
$ $ $ $ $ $ $
----------------------
1,782
29,61827,25358,653
161,763161,763497,744394,634
(103,110)(103,110)
Police
Special
Projects
$ $ $ $ $ $ $
-----------------------
2,271
47,39149,662
(51,486)(51,486)
101,148
101,148389,449337,963
Revolving
Abatement
$ $ $ $
$ $ $
--------------
---
729
,775,
(309)
5,81578,671
(8,980)
35,61277,00227,259
(36,239)
478,247519,67411316,226511,003350350,420
CommunityBlock Grant
$ $ $ $ $ $ $
------------------
262
96,131
(76,107)
202,580855,081215,000277,508468,442
392,335
(172,500)(172,238)
1,241,1401,443,7201,347,589
Parking
Nonmajor Governmental Funds
$ $ $ $ $ $ $
for the Year Ended December 31, 2016
--------------------
1,701
555,833557,534130,000150,000280,000277,534122,534333,610
456,144
Tax
(155,000)(155,000)
Lodging
$ $ $ $
$ $$
-----------
--
8,7704,224
19,24828,54813,923
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
930,335124,550225,215877,362777,540240,585502,019475,146
(536,955)(112,816)
Street
1,133,5312,207,6642,476,9332,744,619
1,217,750
$ $ $ $ $
$ $
Excess (deficiency) of revenues over expenditures
Total expendituresTotal other financing sources and uses
PropertySalesOtherGeneral governmentPublic safetyTransportationEconomic environmentMental/physical healthCulture and recreationPrior period adjustments
REVENUESTaxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresMiscellaneousTotal revenuesEXPENDITURESCurrent:Debt service: Principal Interest and other
debt issue costsCapital outlayIntergovernmental paymentsOTHER FINANCING SOURCES (USES)Proceeds of long term debtPremiums on bonds soldCapital asset donations & disposalInsurance recoveriesTransfers
inTransfers outNet change in fund balancesFund balances-beginning
Special Item - Transportation Benefit DistrictFund balances-ending
80
/
2 of 3
049
Bremerton
087
-
-----------------
102
of
,,,
64,93959
11481,220
4352,173141,8729978,8649615,000615,000382,839464,059
,,,
(533,780)
City
Service
111,470,0001
Total Debt $$$ $$ $ $
----------------------
918
4,166
54,17954,17958,345
552,846553,764375,000124,585499,585
$ $ $ $ $ $ $
Safety Bond
2015 Public
--------------------
-
769769
5,607
84,15889,765
137,662
200,000337,662342,500342,500
2012
(336,893)
LTGO
Center
$
$ $ $ $ $ $
Government
Debt Service
1
3
-
------------------
0
,
2,36762,410
32,4376
861,137895,941675,000391,0310172,500172,500131,612134,022
2010
,
(170,090)
UTGO/
1
LTGO (B)
$
$ $ $$ $ $
--
----------------
885
2,117
19,024
(80,976)
352,173109,435464,610220,000325,586545,586100,000100,000162,903181,927
2010
LTGO
$
$ $ $ $ $ $
-----
8,7708,741
77,00215,000
555,833295,523272,987279,589156,126264,862446,226567,4432277,508410,923904,621445,577
(329,601)(476,555)
1,375,3655,417,503
1,206,3061,431,9003,332,0145,747,1043,860,404
115,976.00
Revenue
3,744,428.00
Total Special
$ $ $ $ $ $ $
-
------------------------
-
303
73,078
72,77573,07873,078
402,068
(475,146)
Nonmajor Governmental Funds
Special Revenue
Transportation
Benefits District
$ $ $ $ $ $ $
for the Year Ended December 31, 2016
-
------------------------
-
269269269269
50,67650,945
for Art
$ $ $ $ $ $
$
One Percent
3
0
---------------------
-
612
9,8
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 22,14832,000
21,53641,80398,00478,349
(19,655)(19,655)
Trial
$ $ $ $ $$
$
Improvement
Excess (deficiency) of revenues over expenditures
Total expendituresTotal other financing sources and uses
PropertySalesOtherGeneral governmentPublic safetyTransportationEconomic environmentMental/physical healthCulture and recreationPrior period adjustments
REVENUESTaxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresMiscellaneousTotal revenuesEXPENDITURESCurrent:Debt service: Principal Interest and other
debt issue costsCapital outlayIntergovernmental paymentsOTHER FINANCING SOURCES (USES)Proceeds of long term debtPremiums on bonds soldCapital asset donations & disposalInsurance recoveriesTransfers
inTransfers outNet change in fund balancesFund balances-beginningSpecial Item - Transportation Benefit DistrictFund balances-ending
81
/
3 of 3
Bremerton
of
City
----
6,3728,7708,741
77,002
908,006295,523272,987279,589156,126681,583446,226622,276664,586226,022
(438,564)
1,416,1002,498,0683,315,6811,434,6423,335,7961,685,0001,252,598,7791,694,455
Total
Funds
(1,047,380)
10,420,59610,859,16010,162,48510,388,507
Nonmajor
$ $ $ $ $ $ $
Governmental
----------------
3,782
54,33854,83328,826
416,721424,817174,834
(570,825)(395,991)
Total
1,291,7621,741,9093,088,0092,187,8562,663,1926,035,2186,064,044
Capital
Projects
$ $ $ $ $ $ $
----------------------
1,0883,782
22,74223,83060,760
Ave.
228,949232,731269,661
(208,901)(208,901)
Connector
$
$ $ $ $ $ $
Washington
(3)
---
---------------------
47,53847,53847,538
339,401339,398291,860291,860
Lebo Blvd
$
$ $ $ $ $ $
---
---------------------
6,721
20,52120,5211
4416,721
(396,200)(396,200)
4,500,0424,103,842
Fire Public
$
$ $ $ $ $ $
Safety Capital
---
------------------
1,644
(81,653)
108,000108,000352,202270,549
(189,653)
1,371,3191,372,9631,562,6161,562,616
Capital
Nonmajor Governmental Funds
$
$ $ $ $ $ $
Transportation
for the Year Ended December 31, 2016
---
-----------------
019)
,
(185)
8,447
25,79834,24554,83346,43166,83466,834
(67
101,264109,733109,548
Parks
$
$ $ $ $ $ $
Construction
----
-----------------
5,290
58,00058,000
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
668,227803,580
Govt
(570,825)(570,825)
1,291,7621,297,0521,239,0521,471,807
General
Cap Impr
$ $ $ $ $ $ $
Excess (deficiency) of revenues over expenditures
Total expendituresTotal other financing sources and uses
PropertySalesOtherGeneral governmentPublic safetyTransportationEconomic environmentMental/physical healthCulture and recreationPrior period adjustments
REVENUESTaxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresMiscellaneousTotal revenuesEXPENDITURESCurrent:Debt service: Principal Interest and other
debt issue costsCapital outlayIntergovernmental paymentsOTHER FINANCING SOURCES (USES)Proceeds of long term debtPremiums on bonds soldCapital asset donations & disposalInsurance recoveriesTransfers
inTransfers outNet change in fund balancesFund balances-beginningSpecial Item - Transportation Benefit DistrictFund balances-ending
City of Bremerton / 82
City of Bremerton
Statement of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual General Fund
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetActualPositive
201620162016(Negative)
REVENUES
Taxes$28,986,308$28,986,308$30,082,636$1,096,328
Licenses and permits1,202,6001,202,6001,204,3231,723
Intergovernmental1,882,3311,492,5711,160,750(331,821)
Charges for services4,951,1765,051,1765,034,048(17,128)
Fines and forfeitures971,500971,5001,195,740224,240
Other revenues395,280344,694262,619(82,075)
Total revenues 38,389,19538,048,84938,940,116891,267
EXPENDITURES
City Council338,056341,856339,7652,091
Executive363,928365,928343,89122,037
Finance1,470,6461,501,8461,419,06182,785
Legal1,054,6641,071,3641,050,46620,898
Human Resources689,128697,828606,39691,432
Community development1,594,3791,664,3791,404,603259,776
Municipal Court1,388,4101,399,9101,333,29666,614
City Auditor81,54081,54063,79717,743
Law enforcement10,339,49310,561,1939,874,790686,403
Fire/Emergency medical services8,697,6298,867,0298,940,636(73,607)
1,976,4001,976,4001,879,90096,500
Police & fire pension
Facilities1,029,9941,117,4811,035,87581,606
Parks and recreation2,716,2412,879,4872,662,860216,627
Engineering2,735,8882,374,0281,950,930423,098
Non-departmental4,620,6794,268,5523,792,870475,682
Total expenditures39,097,07539,168,82136,699,1362,469,685
Excess (deficiency) of revenues over
expenditures (707,880)(1,119,972)2,240,9803,360,952
Fund balances-beginning4,493,3025,262,5955,262,595
Fund balances-ending$3,785,422$4,142,623$7,503,575$3,360,952
Adjustment to reflect consolidation of Contingency
Reserve and Conference Center activity included in the
General Fund of the Statement of Revenues, Expenditures
and Changes in Fund Balances for Governmental funds.$1,412,639
Adjustment to reflect differences in budgetary method$(951,112)
Fund Balances Ending $7,965,102
EXPENDITURES
Personnel27,884,76027,992,46026,888,2831,104,177
Supplies, services & taxes10,259,34310,067,8168,737,5441,330,272
Capital expenditure ----
Debt Service12,972127,972127,415557
Transfers940,000980,573945,89434,679
Total expenditures39,097,07539,168,82136,699,1362,469,685
City of Bremerton / 83
Street Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Taxes$590,000$996,922$1,133,531$136,609
Intergovernmental860,000860,000930,33370,333
Charges for services357,37657,376124,55067,174
Other revenue974,1001,485,250909,604(575,646)
Total revenues2,781,4763,399,5483,098,018(301,530)
EXPENDITURES
Personnel1,255,9001,255,9001,065,649190,251
Supplies, services & taxes1,390,6471,547,9731,453,75694,217
Capital expenditure 135,500250,500225,21425,286
Transfers-112,816112,816-
Total expenditures2,782,0473,167,1892,857,435309,754
Excess (deficiency) of revenues over
expenditures(571)232,359240,5838,224
Fund balances-beginning466,030502,019502,019-
Fund balances-ending$465,459$734,378$742,602$8,224
City of Bremerton / 84
Contingency Reserve Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Other revenue$53,500$209,073$209,746$673
Total revenues53,500209,073209,746673
EXPENDITURES
Supplies, services & taxes--78(78)
Total expenditures--78(78)
Excess (deficiency) of revenues over
expenditures53,500209,073209,668595
Fund balances-beginning730,840729,705729,705-
Fund balances-ending$784,340$938,778$939,373$595
City of Bremerton / 85
Lodging Tax Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Taxes$515,000$515,000$555,833$40,833
Other revenue8008001,701901
Total revenues515,800515,800557,53441,734
EXPENDITURES
Supplies, services & taxes280,000280,000280,000-
Transfers155,000155,000155,000-
Total expenditures435,000435,000435,000-
Excess (deficiency) of revenues over
expenditures80,80080,800122,53441,734
Fund balances-beginning304,160333,611333,611-
Fund balances-ending$384,960$414,411$456,145$41,734
City of Bremerton / 86
Parking System Revenue Special Revenue Fund
Other Governmental Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
for the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Fines and forfeitures$195,000$195,000$202,580$7,580
Other revenue1,416,1001,416,1001,241,140(174,960)
Total revenues1,611,1001,611,1001,443,720(167,380)
EXPENDITURES
Supplies, services & taxes963,7181,048,718855,081193,637
Debt service492,308492,508492,508-
Transfers172,500172,500172,500-
Total expenditures1,628,5261,713,7261,520,089193,637
Excess (deficiency) of revenues over
expenditures(17,426)(102,626)(76,369)26,257
Fund balances-beginning476,575468,442468,442-
Fund balances-ending$459,149$365,816$392,073$26,257
City of Bremerton / 87
Community Development Block Grant Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Intergovernmental$589,000$633,103$478,247$(154,856)
Charges for services50,00050,00035,612(14,388)
Other revenue60,00060,00033,074(26,926)
Total revenues699,000743,103546,933(196,170)
EXPENDITURES
Personnel123,600123,600115,9767,624
Supplies, services & taxes574,944574,944395,027179,917
Transfers-36,24036,2391
Total expenditures698,544734,784547,242187,542
Excess (deficiency) of revenues over
expenditures
4568,319(309)(8,628)
Fund balances-beginning19,086350,729350,729-
Fund balances-ending$19,542$359,048$350,420$(8,628)
City of Bremerton / 88
Abatement Revolving Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Fines and forfeitures$25,000$25,000$47,391$22,391
Other revenue1,0001,0002,2711,271
Total revenues26,00026,00049,66223,662
EXPENDITURES
Supplies, services & taxes53,500153,500101,14852,352
Transfers100,000---
Total expenditures153,500153,500101,14852,352
Excess (deficiency) of revenues over
expenditures(127,500)(127,500)(51,486)76,014
Fund balances-beginning337,180389,449389,449-
Fund balances-ending$209,680$261,949$337,963$76,014
City of Bremerton / 89
Police Special Projects Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Intergovernmental$-$-$1,782$1,782
Fines and forfeitures15,00015,00029,61814,618
Other revenue53,50053,50027,253(26,247)
Total revenues68,50068,50058,653(9,847)
EXPENDITURES
Supplies, services & taxes281,317281,317161,763119,554
Capital expenditure 90,00090,000-90,000
Total expenditures371,317371,317161,763209,554
Excess (deficiency) of revenues over
expenditures
(302,817)(302,817)(103,110)199,707
Fund balances-beginning484,263497,744497,744-
Fund balances-ending$181,446$194,927$394,634$199,707
City of Bremerton / 90
Public Access TV Operations Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Licenses and permits$285,000$285,000$295,523$10,523
Charges for services111,933111,933111,373(560)
Other revenue68,20072,45564,002(8,453)
Total revenues465,133469,388470,8981,510
EXPENDITURES
Personnel330,300330,300314,24516,055
Supplies, services & taxes105,449109,70483,89825,806
Capital expenditure 35,000165,000153,70811,292
Total expenditures470,749605,004551,85153,153
Excess (deficiency) of revenues over
expenditures(5,616)(135,616)(80,953)54,663
Fund balances-beginning507,254597,562597,562-
Fund balances-ending$501,638$461,946$516,609$54,663
City of Bremerton / 91
Gift and Donation Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Charges for services$-$-$1,451$1,451
Other revenue4,2504,25012,7518,501
Total revenues4,2504,25014,2029,952
EXPENDITURES
Supplies, services & taxes5,50011,0007,3283,672
Total expenditures5,50011,0007,3283,672
Excess (deficiency) of revenues over
expenditures
(1,250)(6,750)6,87413,624
Fund balances-beginning51,93454,12454,124-
Fund balances-ending$50,684$47,374$60,998$13,624
City of Bremerton / 92
Trial Improvement Revenue Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Intergovernmental$18,000$18,000$21,536$3,536
Other revenue300300612312
Total revenues18,30018,30022,1483,848
EXPENDITURES
Supplies, services & taxes10,00010,0009,803197
Capital expenditure 45,00045,00032,00013,000
Total expenditures55,00055,00041,80313,197
Excess (deficiency) of revenues over
expenditures(36,700)(36,700)(19,655)17,045
Fund balances-beginning93,99598,00598,005-
Fund balances-ending$57,295$61,305$78,350$17,045
City of Bremerton / 93
One Percent for Arts Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Charges for services$8,900$8,900$-$(8,900)
Other revenue300300269(31)
Total revenues9,2009,200269(8,931)
EXPENDITURES
Supplies, services & taxes15,00015,000-15,000
Total expenditures15,00015,000-15,000
Excess (deficiency) of revenues over
expenditures
(5,800)(5,800)2696,069
Fund balances-beginning51,22650,67650,676-
Fund balances-ending$45,426$44,876$50,945$6,069
City of Bremerton / 94
Conference Center Operations Special Revenue Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Charges for services$1,351,430$1,351,430$1,190,423$(161,007)
Other revenue228,500228,500191,808(36,692)
Total revenues1,579,9301,579,9301,382,231(197,699)
EXPENDITURES
Supplies, services & taxes1,569,0551,569,0551,478,21490,841
Debt service2,6002,6002,350250
Total expenditures1,571,6551,571,6551,480,56491,091
Excess (deficiency) of revenues over
expenditures8,2758,275(98,333)(106,608)
Fund balances-beginning25,431118,449118,449-
Fund balances-ending$33,706$126,724$20,116$(106,608)
City of Bremerton / 95
Transportation Benefit District Blended Component Unit
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Taxes$450,000$450,000$72,775$(377,225)
Other revenue600600303(297)
Total revenues450,600450,60073,078(377,522)
EXPENDITURES
Supplies, services & taxes300,000300,000-300,000
Transfers108,000108,000-108,000
Total expenditures408,000408,000-408,000
Excess (deficiency) of revenues over
expenditures42,60042,60073,07830,478
Fund balances-beginning----
Fund balances-ending$42,600$42,600$73,078$30,478
City of Bremerton / 96
2010 LTGO Debt Service Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Taxes$336,625$336,625$354,290$17,665
Intergovernmental109,500109,500109,435(65)
Other revenue100,950100,950100,885(65)
Total revenues547,075547,075564,61017,535
EXPENDITURES
Debt service545,636545,636545,58650
Total expenditures545,636545,636545,58650
Excess (deficiency) of revenues over
expenditures1,4391,43919,02417,585
Fund balances-beginning147,735162,903162,903-
Fund balances-ending$149,174$164,342$181,927$17,585
City of Bremerton / 97
2010 UTGO Ref/LTGO (B) Debt Service Fund
Other Government Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual
For the Year Ended December 31, 2016
Variance with
OriginalFinalFinal Budget
BudgetBudgetPositive
Actual
201620162016(Negative)
REVENUES
Taxes$850,000$850,000$861,137$11,137
Intergovernmental32,45532,45532,437(18)
Other revenue173,600173,600174,8671,267
Total revenues1,056,0551,056,0551,068,44112,386
EXPENDITURES
Debt service1,066,4571,066,4571,066,031426
Total expenditures1,066,4571,066,4571,066,031426
Excess (deficiency) of revenues over
expenditures(10,402)(10,402)2,41012,812
Fund balances-beginning124,111131,612131,612-
Fund balances-ending$113,709$121,210$134,022$12,812
City of Bremerton / 98
Combining Statement of Net Position
Internal Service Funds
December 31, 2016
Governmental Activities
Internal Service Funds
Self Insurance Accrued Equipment
RiskHealth & Employment Leave Rental EquipmentInformation
ManagementWelfareSecurityLiabilityOperationsReserveTechnologyTotal
ASSETS AND DEFERRED OUTFLOWS
Current assets:
Cash and cash equivalents$1,003,996$921,684$273,743$ 139,533$174,234$1,935,069$116,615$4,564,874
Restricted cash100,000-- ----100,000
Investments1,236,127-306,506 156,233195,0882,166,668130,5724,191,194
External receivables--- -----
Interest receivables3,203-794 4055065,61433810,860
Due from other funds13,277-1,629 7,6213,198581,118348607,191
Inventories--- -95,382--95,382
Prepayments461,014-- ----461,014
Total current assets2,817,617921,684582,672 303,792468,4084,688,469247,87310,030,515
Noncurrent assets:
Capital assets net of depreciation-- --4,299,37460,7274,360,101
Total noncurrent assets--- --4,299,37460,7274,360,101
Total assets2,817,617921,684582,672 303,792468,4088,987,843308,60014,390,616
Deferred outflows of resources35,067-49,41384,480
Total assets and deferred outflows
$2,817,617$921,684$582,672$ 303,792$503,475$8,987,843$358,013$14,475,096
LIABILITIES AND DEFERRED INFLOWS
Current liabilities:
Accounts/contract payable6,071-- -53,667477,44167,226
Claims and Judgements Payable354,462395,632- ----750,094
Due to other funds--- -----
Employee wages payable--- 40,57525,332-37,132103,039
Other accrued liabilities--- -139--139
Current portion of long-term debt--- -----
Custodial accounts--- -----
Total current liabilities360,533395,632 - 40,57579,1384744,573920,498
Noncurrent liabilities:
Claims and judgments payable1,344,286-- -1,344,286
Net pension liability--- -149,703-210,946360,649
Compensated absences--- -16,137-25,95042,087
Total noncurrent liabilities1,344,286-- -165,840-236,8961,747,022
Total liabilities1,704,819395,632 - 40,575244,97847281,4692,667,520
Deferred inflows of resources10,31014,52924,839
Total liabilities and deferred inflows
$1,704,819$395,632$-$ 40,575$255,288$47$295,998$2,692,359
NET POSITION
Net investment in capital assets---4,299,37460,7274,360,101
Restricted for Worker's Compensation100,000-- ----100,000
Unrestricted1,012,798526,052582,672 263,217248,1874,688,4221,2887,322,636
Total net position
$1,112,798$526,052$582,672$ 263,217$248,187$8,987,796$62,015$11,782,737
See accompanying notes to the financial statements.
City of Bremerton / 99
Combining Statement of Revenues, Expenses and Changes in Fund Net Position
Internal Service Funds
for the Year Ended December 31, 2016
Governmental Activities
Internal Service Funds
Accrued EquipmentEquipment
RiskSelf Employment Leave RentalRentalInformation
ManagementInsuranceSecurityLiabilityOperationsReserveTechnology
Total
OPERATING REVENUES
Charges for services$ 1 ,526,293$ 4 ,387,115$38,169$ 1 78,419$ 1,363,080$ 1,171,622$8,664,698
Interest & dividend income - - - - - - -
Other operating revenue 1 ,000 - - - - -1,000
Total operating revenues 1 ,527,293 4 ,387,11538,169 1 78,419 1,363,080 1,171,6228,665,698
OPERATING EXPENSES
General operation 5 7,697 -13,009 4 22,795 1,220,629 649 1,058,2842,773,063
General administration 2 71,900 4 54,326 - - - 726,226
Depreciation and amortization - - - - - 765,508765,508
Risk transfer payments 5 90,189 - - - - 590,189
Payments to claimants & beneficiaries 6 67,644 3 ,131,169 - - - 3,798,813
Other operating expenses 3 ,729 - - - - 3,729
Total operating expenses 1 ,591,159 3 ,585,49513,009 4 22,795 1,220,629 766,157 1,058,2848,657,528
Operating income (loss)(63,866) 8 01,62025,160 (244,376) 142,451(766,157) 113,3388,170
NONOPERATING REVENUES (EXPENSES)
Interest and investment revenue 1 0,871 -3,178 2 ,091 1,252 26,033 1,82345,248
Gain (loss) on capital asset disposal - - - - - (23,835) -(23,835)
Other nonoperating revenue/expense 1 6 - - - 1,927 23,951 84726,741
Total nonoperating revenues (expenses) 1 0,887 -3,178 2 ,091 3,179 26,149 2,67048,154
Income (loss) before contributions and transfers(52,979) 8 01,62028,338 (242,285) 145,630(740,008) 116,00856,324
Capital contributions - - - - - 916,000 -916,000
Transfers to other funds - - - - - - - -
Transfers from other funds - - - - - - - -
Change i
n net position(52,979) 8 01,62028,338 (242,285) 145,630 175,992 116,008972,324
Total net position - beginning 1 ,165,777(275,568)554,334 5 05,502 74,310 8,811,804 (53,993)10,782,166
Prior period adjustments - - - - 28,247 - -28,247
Total net position - ending$ 1 ,112,798$ 5 26,052$582,672$ 2 63,217$ 248,187$ 8,987,796$ 62,015$11,782,737
See accompanying notes to the financial statements.
City of Bremerton / 100
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City of Bremerton / 101
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City of Bremerton / 102
Combining Statement of Fiduciary Net Position
Agency Funds
December 31, 2016
SalaryAdministrative
Clearing Trust
Total
Assets
Cash and cash equivalents$275,848$95,777$371,625
Total assets$275,848$95,777$371,625
Deferred outflows of resources$-$-$-
Liabilities
Accounts/contracts payable-28,46428,464
Other current liabilities275,84867,313343,161
Total liabilities$275,848$95,777$371,625
Deferred inflows of resources$-$-$-
See accompanying notes to the financial statements.
103
Table 1
/
20167,876,4177,725,6369,750,551
82,392,86197,994,91412,406,38017,626,96820,132,016
173,166,974271,161,888
151,010,043233,402,904
$$$
$$$
Bremerton
of
City
2015
8,629,2683,997,9642,201,230
94,837,05919,858,48510,830,49823,856,449
82,209,827
147,071,444169,131,159229,281,271263,968,218
$$$$$$
20143,767,0539,237,8987,648,222
83,690,39996,695,35014,110,02311,415,27523,347,921
169,750,903266,446,253
147,992,658231,683,057
$$$
$$$
2016
2013
4,104,9809,704,9881,778,9545,883,934
21,386,98831,091,976
80,093,19493,903,162
145,318,353168,484,295225,411,547262,387,457
2015
$$$$$$
2014
20124,200,9258,795,6981,616,9695,817,894
78,295,48491,292,10724,624,12233,215,777
165,531,263256,823,370
139,290,172217,789,699
$$$
$$$
2013
Business-Type
December 31,
2011
6,008,0325,948,4291,527,1357,535,167
2012
26,398,93232,347,361
71,532,47683,488,937
128,930,881156,856,948200,463,357240,345,885
$$$$$$
2011
8,275,9499,434,1931,305,9039,581,852
2010
66,905,38684,615,52823,973,48933,407,682
128,158,641153,438,033195,064,027238,053,561
2010
$$$$$$
Last Ten Fiscal Years
(accrual basis of accounting)
Total Net Position
Net Position by Component
Governmental
2009
3,111,2889,159,2491,174,6044,285,892
2009
84,358,11021,386,58930,545,838
72,087,573
122,329,665144,890,858194,417,238229,248,968
$$$$$$
2008
2,682,5343,988,7366,671,270
2008
2007
72,451,89210,777,45085,911,87621,514,83032,292,280
128,900,769214,812,645
103,397,203175,849,095
$$$
$$$
0
80,000,00060,000,00040,000,00020,000,000
180,000,000160,000,000140,000,000120,000,000100,000,000
3,168,3741,483,0264,651,400
2007
70,114,67915,362,41888,645,47192,747,30623,225,22838,587,646
117,455,560162,861,985206,101,031
$$$$$$
Net investment in capital assetsRestrictedUnrestrictedNet investment in capital assetsRestrictedUnrestrictedNet investment in capital assetsRestrictedUnrestricted
Governmental activitiesTotal government activities net positionBusiness-type activitiesTotal business-type activities net positionPrimary governmentTotal primary government net position
\]
-
24,95175,55217,948
Table 2
192,569153,087
564,000
2016
9,773,7694,209,9461,975,8304,205,9615,515,3581,905,7635,967,5641,097,7873,972,630
8,567,6031,819,6149,618,4968,950,6614,018,1792,564,868
47,714,83734,191,51736,438,88584,153,72225,840,49444,532,92713,163,87012,725,75732,427,12576,960,052
$$
$$
-
11,00547,57014,020
821,207484,086644,409554,706
2015
8,149,7403,342,4028,971,5768,662,5832,878,2769,695,9924,045,2452,132,2664,378,9525,736,3351,934,6666,175,2441,404,6273,993,8452,464,910
47,051,10734,561,54937,410,81984,461,92627,924,88247,11,760,62913,324,70379,098,793
31,544,087
City of Bremerton / 104
$$$$
--
915
3,
28,022
692,314531,817
686,422
2014
4,045,3111,386,7503,898,1205,801,9971,889,6976,127,7841,214,965
7,375,2423,072,6198,688,1228,129,9652,733,7874,332,3863,827,2641,823,388
39,756,16831,020,94532,971,44972,727,61724,347,99843,280,56110,222,65710,128,62926,001,93869,282,499
$$
$$
598
4,
30,041
756,478392,179474,662220,176
(720,663)
2013
7,554,4193,752,0588,511,6797,678,8552,665,1074,415,7123,147,1643,877,5463,353,2844,459,1641,813,7325,991,8651,221,7009,276,5279,945,6064,008,9392,151,899
37,760,80929,197,32633,976,35271,737,16123,337,41540,397,33665,780,307
25,382,971
$$$$
3,0001,120
16,201
683,660219,560
677,864488,144
2012
8,147,8666,847,2482,679,1429,253,9744,206,8211,865,4346,061,4438,923,1349,943,8792,271,036
8,578,7507,295,9543,256,9134,407,4732,335,8321,172,2552,281,994
42,379,35426,807,85936,765,81479,145,16823,177,21239,038,55723,420,04362,458,600
$$
$$
395
December 31,
16,735
657,845258,531613,062219,631
2011
8,134,4261,862,7661,753,7758,546,5327,050,9283,175,4054,512,6702,384,6282,580,4084,585,1304,235,1642,231,9515,975,2331,511,9688,868,6409,822,0192,135,8861,831,098
38,078,97526,471,21329,940,34468,019,31923,718,90942,477,986
22,657,64365,135,629
$$$$
-
6,486
65,812
584,246219,431
976,987
2010
3,748,2827,417,3184,012,4773,310,0976,510,2478,298,9169,009,8762,256,772
7,974,5332,685,2818,553,9346,538,9773,406,5354,531,3072,391,0501,428,5173,250,5871,603,135
41,258,41625,981,74534,055,60775,314,02324,187,44542,467,27121,168,69963,635,970
$$
$$
Last Ten Fiscal Years
-
(accrual basis of accounting)
Changes in Net Position
34,34114,678
217,758556,994226,975961,926
2009
9,065,7572,226,9683,922,0048,490,4186,541,6733,706,8344,753,8032,461,1703,882,2904,001,3834,214,9222,031,7535,944,8539,242,7078,927,2993,198,3901,478,026
41,386,38527,619,99132,108,29473,494,679
23,922,95741,304,76922,846,42264,151,191
$$$$
229
21,857
235,414867,602223,469
2008
8,449,2639,045,7663,148,5756,931,0368,829,4418,917,6203,254,936
8,911,4802,321,4044,638,6207,799,7237,790,1173,454,2585,087,7682,572,1691,142,1154,801,9241,181,5131,212,461
43,717,65426,764,07636,338,44180,056,09522,951,48548,283,76822,214,45870,498,226
$$
$$
-
8,004
41,562
913,859374,985
2007
8,239,9801,350,6467,920,9167,574,0114,783,0874,974,5782,984,1461,831,8404,936,6863,838,4428,936,0772,601,8996,429,9661,378,9128,247,8758,589,3583,498,5291,328,735
27,611,96333,512,07483,716,699
10,545,42150,204,62521,823,94345,384,22421,664,49767,048,721
$$$$
axes
t
ness-type activities expenses
rating grants and contributions
Charges for servicesOperating grants and contributionsCapital grants and contributionsProperty taxesSales taxesBusiness taxesUtility taxesOtherOther general revenuesOpeCapital grants
and contributionsSales taxesBusiness taxesOther general revenuesGeneral governmentPublic safetyUtilities and environmentTransportationEconomic environmentCultural and recreationInterest
on long-term debtWaterWastewaterGolf courseOther proprietary funds
Program revenues Charges for services:General revenues
General revenues
Program RevenuesGovernmental activities:Total governmental program revenuesBusiness-type activities:Total business-type activities program revenuesTotal primary government program revenuesExpensesGov
ernmental activities:Total governmental activities expensesBusiness-type activities:Total busiTotal primary government expenses
\]
--
24,055
Table 2
(24,055)
166,974
2016
3,181,910
3,157,8554,011,7604,035,815
94,837,05997,994,914
169,131,159173,271,161,888
$
$
(503,599)
2015
1,778,0431,274,4445,866,7324,088,689
(1,778,043)(3,132,735)(4,708,433)
94,837,059
96,695,350
City of Bremerton / 105
169,750,903169,131,159263,968,218
$$
714,050
552,558
(100,372)
2014
6,416,9532,892,5606,969,511
(3,524,393)(6,416,953)
93,903,16296,695,350
168,484,295169,750,903266,446,253
$
$
420)
244,
((148,347)
2013
5,492,0022,855,4758,593,3813,101,379
(2,636,527)(5,492,002)
93,903,162
91,292,107
165,531,263168,484,295262,387,457
$$
-
(209,083)
2012
3,340,7974,462,3737,803,1708,883,398
(4,462,373)
13,345,77183,488,93791,292,107
156,856,948165,531,263256,823,370
$
$
December 31,
(661,046)(465,545)(125,821)
2011
3,737,9657,282,7013,544,736
(4,399,011)(3,737,965)
83,488,937
84,615,528
153,438,033156,856,948240,345,885
$$
(728,969)
2010
3,610,7642,401,9099,276,144
(2,144,491)
(1,208,855)(3,610,764)
12,886,90884,358,11084,615,528
144,890,858153,438,033238,053,561
$
$
Last Ten Fiscal Years
(accrual basis of accounting)
Changes in Net Position
81,616
2009
4,175,9244,257,5409,261,8725,085,948
(4,175,924)(5,811,306)
84,358,11010,904,141
85,911,876
128,900,769144,890,858229,248,968
$$
(705,529)
(140,726)
2008
1,973,245
(4,566,114)(2,592,869)(1,973,245)
14,123,98312,150,73888,645,47185,911,876
117,455,560128,900,769214,812,645
$
$
350,000
2007
4,820,4011,944,6416,765,0429,902,9361,708,823
(1,944,641)
88,645,471
11,847,57780,171,606
107,202,624117,455,560206,101,031
$$
Prior period adjustment/special items
Prior period adjustment/special items
Excess of revenues over expensesTransfersExcess of revenues over expensesTransfersNet position - beginningNet position - endingNet position - beginningNet position - ending
Change in Net PositionGovernmental activities:Governmental activities change in net positionBusiness-type activities:Business-type activities change in net positionGovernmental Activities
Net Position:Business-type activities net positionTotal Primary Government Net Position
3
Table
- - - - - - -
- -
23,40759,868
939,373566,466
2016
7,965,1022,700,402
6,942,4547,121,639
10,388,507
$
$
$ $
Unassigned
--------
-
0%
City of Bremerton / 106
18,82776,836
674,653
729,705
2015
4,658,6085,483,9767,813,0511,674,781
10,162,485
39%
Assigned
$
$
$ $
---------
-
20,06050,179
652,253
2014
4,725,8804,796,1192,923,6891,927,1495,503,091 Committed
$
$
$ $
----------
38%
8%
24,80150,179
Restricted
357,663
2013
4,869,2883,040,5432,051,6105,449,816
4,794,308
$
$
$ $
15%
---------
2016 Governmental Fund Balances
18,41820,562
Nonspendable
313,984
545,168
2012
4,602,6702,786,5921,577,7204,678,296
4,018,522
$
$
$ $
-------
December 31,
23,264
18,68348,55665,926
(96,866)
232,026
2011*
3,407,4464,592,1961,045,4155,796,035
3,274,281
$ $
$ $
---------
- -
010
391,078433,778
2
3,049,8783,049,8784,488,3276,662,498
11,975,681
$$
$ $
Last Ten Fiscal Years
---------
- -
9
350,758262,834
200
1,957,3081,957,3085,758,6912,096,8618,469,144
Fund Balance of Governmental Funds 2016
$$
$ $
---------
-
2015
19,070
2014
198,472590,314
2008
1,313,1461,332,2165,867,6821,578,6188,235,086
$$
$ $
2013
---------
-
2011*
20,470
176,435548,107
2007
4,084,8684,105,3386,251,0372,626,1389,601,717
2010
$$
$ $
Total Annual Fund Balances
2009
2008
2007
Governmental Fund Balances by Fiscal Year
-
8,000,000 6,000,000 4,000,000 2,000,000
20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000
ll Other Governmental Funds
Special revenue fundsCapital projects fundsDebt service funds
Nonspendable RestrictedCommittedAssignedReservedUnreservedNonspendable RestrictedCommittedAssignedUnassignedReservedUnreserved, reported in:
Unassignedl other governmental funds *
l
General fund *Total General FundAll other governmental fundsATotal A
General fund
*Fund Balance reporting change resulting from implementation of GASB54 in 2011
Table 4
City of Bremerton / 107
----
8,741
28,401
154,084123,770108,456
2016
1,499,8464,476,4293,113,1491,475,3291,702,1135,384,9773,807,1741,832,9294,458,5431,685,0001,259,3642,598,7792,598,6911,885,584
(1,909,639)
44,572,985
34,904,81047,171,67623,363,734
$
--
67,72810,620
28,694
275,421399,823
2015
1,439,3874,982,3073,507,7571,377,2042,129,6995,204,9494,382,9431,799,6564,552,4981,255,0001,222,3664,879,0564,160,0004,746,3656,543,746
(1,212,802)(2,840,790)
47,135,457
32,486,30145,922,65523,534,874
$
----
000
8,817
23,165
274,877199,550
2014
1,306,7596,010,6193,079,2751,260,4692,030,6514,713,7904,236,6611,647,6434,480,3331,260,1,192,2566,028,5698,098,6336,625,321
(6,718,419)(1,681,679)
46,370,963
25,964,77139,652,54422,513,669
$
--
285
28,166
271,038401,073137,498
2013
1,264,3235,597,4613,345,0611,252,1601,737,8574,833,6623,242,6921,616,5334,226,7721,174,5624,781,1358,590,0006,932,744
(1,440,742)
51,673,109
24,893,52738,090,38921,473,54910,025,00014,620,858
(13,582,720)
$
--
349
69,963
219,560122,033
2012
1,133,3016,961,3716,601,5881,492,2131,985,8356,096,0524,419,4301,891,5274,530,9331,458,2391,140,1165,708,3495,215,0006,074,6904,145,942
(4,045,193)(5,653,814)(1,612,316)
46,696,036
24,476,53542,650,84321,161,867
$
1,251
December 31,
75,57342,203
219,631511,823
2011
1,233,7195,650,3084,950,2251,536,6901,706,6917,237,7603,135,6572,292,9094,364,1621,382,5001,402,9027,256,7689,675,0006,921,1474,151,388
(9,980,286)(9,675,000)(3,282,833)
49,197,697
24,139,77839,217,41121,787,632
$
-
Last Ten Fiscal Years
40,93018,629
75,126
219,431771,500964,772
2010
1,165,3948,266,4515,648,9071,581,9372,962,2386,878,4583,010,8483,269,2594,867,5459,361,2485,630,979
(8,204,235)(2,020,214)
51,787,75519,407,267
23,958,59343,583,52022,369,56812,690,581
(10,387,010)
$
---
Changes in Fund Balances of Governmental Funds
14,664
74,922
226,975946,444398,759
2009
1,174,9188,126,0875,188,7901,929,8361,636,5196,793,2023,372,7501,950,4174,548,2911,035,5004,874,6587,415,8104,589,347
(3,730,198)(3,239,886)
46,045,610
24,259,26242,315,41222,222,451
$
----
73,525
223,469986,000428,319
2008
1,037,7718,846,8135,005,7281,689,0802,497,2556,830,1977,401,3343,142,1965,357,2501,165,8834,515,7786,461,8272,694,479
(6,691,999)(4,195,667)
50,901,581
25,132,93544,209,58221,205,949
$
----
71,379
374,985979,667
2007
1,160,7784,645,2381,022,5633,107,3796,389,5557,652,8802,521,6485,313,2361,562,4991,363,5348,090,1801,467,9678,957,389
(4,245,440)(9,445,689)
50,758,828
26,572,96310,004,46746,513,38817,418,932
$
PrincipleInterest and other debt issue costs
RevenuesTaxesLicense and permitsIntergovernmentalCharges for servicesFines and forfeitsMiscellaneousTotal revenuesExpendituresGeneral governmentPublic safetyUtilities and environmentTransportationEco
nomic environmentMental/physical healthCultural and recreationDebt serviceCapitalIntergovernmental PaymentsTotal expendituresExcess of revenues over (under) expendituresOther Financing
Sources (Uses)Proceeds of long-term debtPremiums on bonds soldPayments to refunded escrow agentCapital asset donation and disposalInsurance recoveriesTransfers inTransfers outTotal
other financing sources and uses
Table 4
City of Bremerton / 108
--
7.01%
2016
2,707,147
15,646,46118,353,608
$
-
5.86%
16,307
2015
5,330,944
10,299,21015,646,461
$
-
6.08%
73,204
(93,098)
2014
2016
10,319,10410,299,210
$
--
2015
23.88%
2013
1,038,1389,280,966
10,319,104
$
2014
-
6.34%
77,485
(23,264)
2012
9,203,4819,280,966
2013
$
-
6,8206.64%
Ending Fund Balance
December 31,
2012
2011
9,203,481
(5,822,078)
15,025,559
$
2011
Last Ten Fiscal Years
4.09%
(10,666)
123,428
2010
4,475,680
10,426,45115,025,559
2010
$
--
Changes in Fund Balances of Governmental Funds
Beginning Fund Balance
4.81%
2009
859,149
2009
9,567,302
10,426,451
$
Changes in Fund Balance by Fiscal Year
2008
4.64%
(1,507)
2008
(140,726)
9,567,302
(3,999,027)
13,707,055
$
2007
-
(755)
-
6.86%
2007
(3,266,528)
16,973,58313,707,055
8,000,000 6,000,000 4,000,000 2,000,000
$
20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000
Prior Period Adjustments
Other Change in Fund BalanceChange in reserves for inventoryNet change in fund balancesFund balances-beginningFund balances-endingDebt service as a percentage of noncapital expenditures
Table 5
2.852.512.762.973.133.373.613.853.833.57
$1,000
Rate per
Total Levy
City of Bremerton / 109
87.9%87.8%86.2%86.2%88.4%88.8%92.1%91.0%94.1%88.9%
Ratio of
to Estimated
Actual Value
Assessed Value
Estimated
Actual Value
3,054,439,7093,538,852,9823,569,328,1283,350,898,1523,097,863,7162,859,774,8262,594,310,9242,514,643,2632,496,404,5782,654,963,876
Total
2,692,388,7913,114,776,4283,084,741,0172,899,484,5082,748,747,7942,548,965,4922,394,781,6002,293,000,7292,354,542,7472,503,409,559
Assessed Value
Estimated
134,674,238143,118,592138,704,837163,279,032157,999,967155,153,018148,436,115156,304,421149,480,065146,104,058
Actual Value
Last Ten Fiscal Years
Personal Property
134,674,238
140,113,102134,404,987161,319,684155,787,967152,670,570144,576,776149,270,722148,433,705145,081,330
Assessed Value
Assessed and Estimated Actual Value of Taxable Property
Estimated
Actual Value
2,919,765,471
3,395,734,3903,430,623,2913,187,619,1202,939,863,7492,704,621,8082,445,874,8092,358,338,8422,346,924,5132,508,859,818
Real Property
2,557,714,553
2,974,663,3262,950,336,0302,738,164,8242,592,959,8272,396,294,9222,250,204,8242,143,730,0072,206,109,0422,358,328,229
Assessed Value
2007
200820092010201120122013201420152016
Year
Fiscal
Table 6
68,301
352,173555,833591,310346,428653,451727,765860,916581,527127,049510,642695,664905,610
20169,506,4943,254,215
9,618,4978,007,1783,322,5161,921,4641,717,5412,964,6779,773,7691,291,7622,280,4934,
37,126,886
54,108
349,901529,682541,747371,878573,835609,528987,549547,164128,893480,625626,078982,512
20158,710,1532,838,188
8,971,5767,288,8232,892,2961,786,9171,767,9573,051,1649,695,9921,827,1374,045,245
34,315,262
City of Bremerton / 110
68,993
340,860434,001490,256394,593483,359636,564978,824376,536123,721444,012547,288788,594
20148,129,9652,664,794
8,688,1226,864,8482,733,7871,839,0461,722,9612,750,9039,182,7862,141,6964,045,311
32,779,971
641
55,
337,450388,620462,935365,522476,599618,076481,739111,758431,866497,088481,898
20132,609,466
8,511,6796,489,8507,678,8552,665,1071,822,9571,132,5581,366,0112,621,2528,884,7141,624,5543,147,164
30,887,519
81,841
339,594417,131451,761375,524459,818617,149452,427112,087189,169476,499427,807
20122,698,574
8,578,7506,844,1938,052,6792,780,4151,756,3621,198,4551,310,5422,699,4048,869,6811,722,1172,927,679
31,209,204
-
December 31,
93,146
370,613393,288446,258449,995455,621619,550343,308110,491316,380336,378
20112,765,879
8,546,5326,604,6697,814,8282,859,0251,776,7701,210,5521,307,4662,044,9708,208,2321,544,4712,307,720
29,736,337
-
146,258347,792418,917276,734419,100454,929601,782327,771101,570317,898412,518
20102,811,903
8,553,9346,120,0607,033,0273,088,6371,716,7761,338,5421,267,6752,015,3198,141,8941,529,1702,361,156
29,178,648
Last Ten Fiscal Years
- -
62,232
239,959
362,410427,665527,349460,037575,472244,916311,374570,619
20093,155,501
8,490,4186,114,0086,904,0833,395,4601,714,6051,475,4211,004,4611,579,7977,582,0581,465,9092,410,134
28,782,153
Governmental Activities Tax Revenues by Source
- - -
53,055
268,174
317,385476,939907,311428,975563,620684,855164,091296,602709,894
20082,889,482
7,799,7237,313,1788,107,5023,157,6561,685,4151,502,4471,124,2997,061,0131,491,8352,551,386
28,677,280
- -
46,019
275,496
331,093501,813955,006465,010519,622690,376153,902293,874
20074,213,717
7,920,9167,072,1987,905,1044,489,2131,552,3631,342,7111,100,3636,779,3531,176,7321,430,3022,946,927
30,041,513
r Utility
te
able TV Utility
Business & Occupation TaxesGambling Excise Taxes
Local Retail Sales & Use TaxLocal Revitalization FinancingHotel/Motel Sales & Use TaxCriminal Justice Sales & Use TaxElectric UtilityGas UtilityGarbage/Solid Waste UtilityCTelephone
UtilityWater UtilityWastewaStormwater UtilityLeasehold TaxTBD Vehicle FeesParking TaxReal Estate Excise TaxState & Local Shared Revenue
Business Taxes
Property TaxLocal Sales & Use TaxUtility TaxesOther Taxes and State Shared Revenue
General RevenuesTaxesTotal Local Sales & Use TaxTotal Business TaxesTotal Utility TaxesTotal Other Taxes and State Shared Revenue
Table 7
111
2016
/
9.63919
10.6277110.1660411.0161311.9198912.8110713.7029914.3230713.8905813.82293
Rates
2015
Overlapping
Total Direct &
Bremerton
of
2014
City
7.780627.128557.406998.044628.794069.443409.93293
10.0897310.4775310.05818
2013
Total
Rates
Overlapping
2012
0.307650.280210.287920.320400.347260.370760.391110.402080.390130.38179
2011
Milage
Library Milage
Kitsap Regional
2010
0.067820.061800.063480.068470.073760.078040.081730.085440.083120.08059
Milage
2009
Public Utility
2008
0.768730.693720.715330.774330.791560.814690.383520.394390.388140.38170
Port of
Total Direct & Overlapping Property Tax Rates
Bremerton
Milage/Debt
2007
Overlapping Rates
3.378153.187503.413763.758184.136134.543335.524725.887635.818305.56692
8.000006.000004.000002.000000.00000
16.0000014.0000012.0000010.00000
Bremerton
Milage/Debt
School District
Property Tax Rates
2016
Last Ten Fiscal Years
2.295762.028292.025592.133602.377522.497382.507082.472372.176822.35544
Milage
State School
2015
Direct and Overlapping Governments
0.962510.877030.900910.989641.067841.139201.201571.235621.201671.16649
2014
Milage
Kitsap County
2013
2012
2.847102.510652.759052.971513.125833.367673.613273.845543.832403.89000
Milage
Total City
2011
Milage
2010
0.395880.292560.290040.309110.296270.308610.351430.395330.386860.57000
Milage
Debt Service
2009
EMS
0.348050.314870.500000.500000.500000.500000.500000.500000.500000.49000
Milage
2008
City of Bremerton Direct Rates
City of Bremerton Direct Property Tax Rate
2007
2.103161.903231.969012.162392.329572.559062.761842.950202.945542.83000
Milage
Operating
4.000003.500003.000002.500002.000001.500001.000000.500000.00000
2007200820092010201120122013201420152016
Year
Fiscal
Source: Kitsap County Assessor's Office
112
Table 8
/
Bremerton
of
City
1.5%0.9%0.7%0.5%0.5%0.4%0.4%0.4%0.4%0.4%6.2%
93.8%
100.0%
Valuation
Percentageof Assessed
123456789
10
Rank
2007
9,831,0409,743,0409,368,7409,043,0809,013,570
32,641,50718,925,96015,590,40011,968,68011,208,290
137,334,307
Taxable
Assessed
Valuation
2,085,558,217
2,222,892,524
$
$
6.2%
Taxpayer
Total Taxpayer Taxable Assessed Valuation
All Other Taxpayers
Puget Sound EnergyKitsap Community Credit UnionBremerton Residential InvestmentsSHP II Bremerton LLCBremerton TrustR & L Property ManagementRed Mortgage Capital IncAewsh Bay Pointe Senior
HousingMerit CompanyMG Pine Ridge Apts LP
Top Ten Taxpayer Taxable Assessed ValuationAll Other Taxpayer Taxable Assessed Valuation
Current Year and Nine Years Ago
Principal Property Taxpayers
1.9%0.6%0.5%0.5%0.5%0.5%0.4%0.4%0.4%0.4%6.2%
93.8%
100.0%
Valuation
Percentage
of Assessed
Total Taxable Assessed Valuation
Top 10 Taxpayers
123456789
10
93.8%
Rank
2016
Assessed Valuation of 2016 Top Ten Taxpayers Compared to
8,684,270
43,802,64414,546,47612,441,12012,421,42012,151,14011,772,28010,215,91010,205,81010,012,221
Taxable
Assessed146,253,291
Valuation
2,208,289,4562,354,542,747
$
$
Taxpayer
Total Taxpayer Taxable Assessed Valuation
Puget Sound EnergyQwest CorporationHealth Care Reit IncBremerton Stephanus LLCR & L Property MGMT LLCEP Holdings LLCHeartland Automobile Prop LLCMG Pine Ridge Apts LPWinco Foods LLCArch
BPBRMWA01 LLC
Top Ten Taxpayer Taxable Assessed ValuationAll Other Taxpayer Taxable Assessed Valuation
City of Bremerton / 113
Table 9
Property Tax levies and Collections
Last Ten Fiscal Years
(In Thousands)
% of Total% of
% of Tax Delinquent Tax OutstandingOutstanding
FiscalCurrent TaxLevy TaxTotal TaxCollectionsDelinquentDelinquent to
CollectedCollectionsCollections
YearTax LevyCollectionsto Tax LevyTaxesTax Levy
20077,6587,40696.71%4367,842102.40%4255.55%
20087,8167,49895.93%1907,68898.36%5066.47%
20098,5078,06494.79%1928,25697.05%7358.64%
20108,6138,20995.31%4118,620100.08%6697.77%
20118,5908,27896.37%2838,56199.66%6557.63%
20128,5878,24295.98%3178,55999.67%6147.15%
20138,6478,32196.23%2908,61199.58%5756.65%
20148,8128,57597.31%2568,831100.22%4324.90%
20159,0198,82497.84%2079,031100.13%3734.14%
20169,7309,53197.95%1469,67799.46%3213.30%
Annual Property Tax Levies and Taxes Collected
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2007200820092010201120122013201420152016
Tax LevyTotal Tax Collected
City of Bremerton / 114
Table 10
Ratio of Net General Bonded Debt
To Assessed Value and Net Bonded Debt Per Capita
Last Ten Fiscal Years
General Percentage
ObligationNet Bonded
Fiscal AssessedBondedLess DebtNet Bonded Debt to Debt per
YearValue**DebtService FundDebtAssessed ValueCapita
Population*
200735,8102,692,388,79128,619,400573,65428,045,7461.04%783
200836,8603,114,776,42827,424,767623,38526,801,3820.86%727
200936,6203,084,741,01726,847,185313,94826,533,2370.86%725
201036,1902,899,484,50835,705,685474,30335,231,3821.22%974
201138,7902,748,747,79439,511,239426,51339,084,7261.42%1,008
201239,6502,548,965,49237,768,000275,19037,492,8101.47%946
201337,8502,394,781,60036,260,000203,72536,056,2751.51%953
201437,8502,293,000,72934,770,000293,16034,476,8401.50%911
201538,1802,354,542,74737,430,000546,56136,883,4391.57%966
201639,4102,503,409,55935,460,000464,06034,995,9401.40%888
City of Bremerton / 115
Table 11
Computation of Direct and Overlapping Debt
December 31, 2016
Gross General Percentage ApplicableAmount Applicable
Obligationto Bremerton
Jurisdictionto Bremerton
City of Bremerton35,460,000100.00%35,460,000
Kitsap County88,609,6768.60%7,620,432
Port of Bremerton3,385,00021.68%733,868
School District #1008,980,11573.27%6,579,730
So. Kitsap Schools #402 3,205,0860.36%11,538
TOTAL139,639,87750,405,569
Percentage of Direct & Overlapping Debt
Applicable to the City of Bremerton
13%
0%
63%
15%
2%
City of BremertonKitsap CountyPort of Bremerton
School District #100So. Kitsap Schools #402
City of Bremerton / 116
Computation of Legal Debt Margin Table 12
as of December 31, 2016
Total Taxable Property Value 2,503,409,559
2.5% General purpose limit is allocated between:62,585,239
Up to 1.5% debt without a vote (RCW 39.36.020)37,551,143
Less: Outstanding Debt (non-voted)24,090,000
Less: Excess of Debt with a Vote-
Add: Available Assets271,672
Equals remaining debt capacity without a vote13,732,815
Up to 2.5% debt with a vote (RCW 39.36.020)38,766,911
Less: Outstanding Debt (voted)11,370,000
Add: Available Assets521,091
Equals remaining debt capacity with a vote27,918,002
2.5% Utility purpose limit, voted (RCW 39.36.020)62,585,239
Less: Outstanding Debt-
Less: Contracts Payable-
Add: Available Assets-
Equals remaining debt capacity- Utility purpose, voted62,585,239
2.5% Open Space, park & capital facilities, voted (RCW 39.36.020)62,585,239
Less: Outstanding Debt-
Less: Contracts Payable-
Add: Available Assets-
Equals remaining debt capacity - Open space, park & capital facilites voted62,585,239
City of Bremerton / 117
Table 13
Water and Sewer Revenue Bond Coverage
Last Ten Fiscal Years
Maintenance &Net Revenue Current
FiscalGrossOperatingAvailable for Current Coverage
Expenses*Debt ServicePrincipal
YearRevenueInterestTotalRatio
200723,009,15211,486,86211,522,2902,815,000242,8163,057,8163.77
200823,021,13213,023,5759,997,557305,000223,202528,20218.93
200922,697,79413,160,5069,537,288320,000210,148530,14817.99
201022,172,23212,563,5199,608,713330,000196,452526,45218.25
201122,869,30412,807,72610,061,578335,000182,328517,32819.45
201223,000,40112,822,74810,177,653350,000167,990517,99019.65
201323,418,12312,907,62510,510,498365,000153,010518,01020.29
201427,651,62315,502,85312,148,770375,000137,388512,38823.71
201531,231,38615,924,25315,307,133595,000420,3441,015,34415.08
201630,712,60217,041,37313,671,229620,000352,046972,04614.06
* Net of depreceiation, amortization and City taxes
18,000,000
Net Revenue Available for Debt Service
16,000,000
14,000,000
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
0
2007200820092010201120122013201420152016
Available Net RevenueTotal Debt Principal & Interest
City of Bremerton / 118
Table 14
Demographic Statistics
Last Ten Fiscal Years
PersonalIncome Per SchoolNumber ofRate of
Fiscal
123456
Capita
YearPopulation Income ($000) Enrollment Housing Units Unemployment
200735,8101,520,21741,5184,99816,7974.4
200836,8601,623,53543,1875,06117,1714.4
200936,6201,552,89241,2174,83517,1707.4
201036,1901,501,59141,4924,85517,2737.3
201138,7901,648,51642,4985,17516,9157.6
201239,6501,742,85743,9564,90417,0907.4
201337,8501,673,54244,2154,90417,2406.9
201438,8641,810,02246,5735,11117,2817.4
201538,1801,830,82947,9535,01317,1945.4
201639,410N/AN/A5,18217,5357.1
201740,500N/AN/A5,20717,6125.9
1
State of Washington, Office of Financial Management.
2
U.S. Department of Commerce - Bureau of Economic Analysis (County data prorated based on local population).
2016 data not available at report date.
3
Bremerton-Silverdale, WA - Bureau of Economic Analysis.
4
State of Washington, Office of Financial Management - Office of Superintendent of Public Instruction.
5
State of Washington, Office of Financial Management (post centual estinate).
6
State of Washington, Employment Security Department.
2 & 3
2015 data not published.
City of Bremerton / 119
Table 15
Miscellaneous Statistics
DATE OF INCORPORATION
October 14, 1901
FORM OF GOVERNMENT
Council - Mayor
Type of Government
Home-Rule Charter
Demographics in 2016
Total Area for City of Bremerton32.1 Square Miles
Number of City Employees 2016
Full-Time Equivalents327.54
Fire Protection
Number of Personnel53
Number of Stations3
Fire and Aid Calls - 20168,575
Priority 1 Response Time (minutes)5:19
Police Protection
Number of Police Officers54
Calls for Service - 201653,456
Average Priority 1 Response Time (minutes) 2:58
Average Priority 2 Response Time (minutes)4:58
Parks & Recreation
Number of Developed Parks36
Number of Park Acres709.50
Senior Centers1
Bremerton Family YMCA1
Community Pool - Jarstad Aquatic Center1
Golf - Gold Mountain Golf Complex1
Ice Arena - Bremerton Ice Arena1
Business Licenses
Number of Business Licenses Issued - 20164,597
Number of Business Licenses Issued in City Limits1,388
Number of Landlord Licenses Issued - 20161,756
City of Bremerton / 120
Table 15
Miscellaneous Statistics
Water Utility Services 2016
Residential Accounts17,084
Commercial Accounts1,842
Storage Capacity (gallons)33,240,000
Cascade Dam Capacity (gallons)1.4 billion
Average Daily Demand (millions per gallon-MG)6.2
Reservoirs17
Watershed Land (square miles)12.96
Sources:
Surface Supply (MG)1,082
Ground Supply (MG)1,150
Miles of Main322
Bremerton supplies 3 billion gallons of water each year to 55,000 people, representing 36% of all the water supplied in
Kitsap County. Bremerton regularly monitors the physical, chemical, and bacteriological characteristics to ensure that the
drinking water is safe and water quality is the best possible.
Sewer Utility Services 2016
Residential Sewer Accounts10,063
Commercial Sewer Accounts929
Miles of Main151
Miles of Force Main31
Sewage Pump Stations39
Grinder Pump Stations169
Westside Wastewater Treatment Plant:
Average Annual Flow - MGD5.0
Hydraulic Peak Capacity - MGD45
Permitted Average12.5
Eastside CSO Plant
Peak Treatment Capacity - MGD20
Bremerton's sewage system provides sewer service to approximately 37,000 people. The wastewater collection system serves
City residents as well as nearby areas in unincorporated Kitsap County.
Stormwater Utility Services 2016
Residential Accounts10,185
Commercial Accounts1,036
Miles of Mains148
It is the mission of the Stormwater Program within the Department to control flooding, enhance water quality, protect
sensitive habitat areas, and optimize the recharge of local aquifers.
City of Bremerton / 121
Table 15
Miscellaneous Statistics
City Streets
Street Miles144
State Highway Miles19
Miles of Sidewalks127
Signalized Traffic Intersections39
Street Lights:
City Owned875
Leased from Puget Sound Energy1,738
Signs, Crosswalks & Lane Markings7,700
Forestry
Water and Utlity Forest Lands (acres)8,300
Miles of Forest Roads60
Timber Harvested (board feet)1.19 MBF
Biosolids applied (cubic yards)2,936
Reforestation (seedlings planted)32,050
Public Schools
Bremerton is served primarily by Bremerton School District #100. A small percentage of children attend Central Kitsap
School District #401.
Elementary6
Middle School1
Junior High1
High School1
Vocational School1
Colleges
Olympic CollegeNavy College
1600 Chester Ave., BremertonNaval Kitsap Bremerton
360 792-60502255 Cole Ave. Bldg. 853, Bremerton
1 800 259-6718360 476-4282 Ext. 9176
Hospitals
Harrison Medical Center Naval Hospital Bremerton
2520 Cherry Ave., Bremerton1 Boone Road, Bremerton
360 377-39111 800 422-1383
City of Bremerton / 122
Table 15
Miscellaneous Statistics
Local Transportation
Washington State Ferries
Seattle Bremerton Route - Total Annual Rides 20162,739,926
Kitsap Transit 2016
Foot Ferry
Annual Rides - Port Orchard & Annapolis487,279
Buses (County Wide)
Annual Bus Rides (Routed Service)2,189,634
Kitsap Access Bus 290,394
Worker/Driver Service400,800
2016 Total Bus Ridership2,880,828
Vanpool and Other
Vanpool Service175,920
2016 Total Vanpool Ridership175,920
Guaranteed Ride Home
Guaranteed Ride Home188
2016 Total Guaranteed Ride Home188
Total Kitsap Transit Ridership3,544,215
Sources: Washington State Ferries
Kitsap Transit