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City of KinstoN North Carolina Comprehensive Annual Financial Report Fiscal Year Ended JUNE 30, 2018 Pictured on the cover of the Comprehensive annual financial report for the City of Kinston Purchase of three (3) new side loaders The City of Kinston replaced three garbage trucks during fiscal years 16/17. The trucks were wrapped with scenes from our community to highlight the many unique features of Kinston. The trucks spotlight such sites as the Lions Adventure Water Park, Historic Grainger Stadium, and the beautiful art pieces that can be found throughout our City. Plans are in place to continue this project as additional equipment is replaced in the coming years. CITY OF KINSTON, NORTH CAROLINA Table of Contents June 30, 2018 Exhibit Page Introductory Section Letter of Transmittal…………………………………………………………………………i-xiii Letter of Principal Officials...…………………………………………………………………xiiii Organization Chart...……………………………………………………………………………xv Certificate of Achievement for Excellence in Financial Reporting……………………………xvi Financial Section Independent Auditors’ Report ................................................................................................... 1 Management’s Discussion and Analysis ................................................................................... 3 Basic Financial Statements: Government-wide Financial Statements: 1 Statement of Net Position ..................................................................................................... 14 2 Statement of Activities ......................................................................................................... 15 Fund Financial Statements: 3 Balance Sheet – Governmental Funds .................................................................................. 16 Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Position ................................................................................................17 4 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ....................................................................................... 18 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities...................... ... 19 5 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual – General Fund................................................................................ ... 20 6 Statement of Net Position – Proprietary Funds .................................................................... 21 7 Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds ............................................................................................. 22 8 Statement of Cash Flows – Proprietary Funds ..................................................................... 23 Notes to the Financial Statements ........................................................................................ 24 Required Supplemental Financial Data: A-1 Schedule of Changes in Total Pension Liability - Law Enforcement Officer’s Special Separation Allowance ...................................................................................................... 81 A-2 Schedule of Total Pension Liability as a Percentage of Covered Payroll- Law Enforcement Officer’s Special Separation Allowance. ............................... .......... 82 A-3 Schedule of Changes in Total Pension Liability- Special Separation Allowance ................ 83 A-4 Schedule of Total Pension Liability as a Percentage of Covered Payroll- Special Separation Allowance ........................................................................................ 8 4 A-5 Schedule of Changes in Total OPEB Liability and Related Ratios ...................................... 85 A-6 Proportionate Share of Net Pension Liability (Asset) .......................................................... 86 A-7 Local Government Employees’ Retirement System City of Kinston’s Contributions .................................................................................................................. 87 CITY OF KINSTON, NORTH CAROLINA Table of Contents June 30, 2018 Schedule Page Individual Fund Statements and Schedules: General Fund 1 Balance Sheet- General Fund ............................................................................................... 88 2 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – General Fund ................................................................................... 89 Governmental Fund Types 3 Combining Balance Sheet for Non-Major Governmental Funds ......................................... 91 4 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Non-Major Governmental Funds ...................................................................................... 92 Special Revenue Funds 5 Combining Balance Sheet- Nonmajor Special Revenue Funds ............................................ 93 6 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Special Revenue Funds ................................................................................... 94 7 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Community Development Administration ...................................... 95 8 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Bullet Proof Vest Partnership Grant ................................................ 96 9 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – 2015 Edward-Byrne Memorial JAG Grant ...................................... 97 10 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – 2016 Edward Byrne Memorial JAG Grant ...................................... 98 11 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Seizure and Restitution Fund ........................................................... 99 12 Schedule of Revenues, Expenditures, and Changes in Fund Balance– Budget and Actual – Brownfields EPA Grant ................................................................. 100 13 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – NCHFA 2016 Essential; Single-Family Rehabilitation ................. 101 14 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – NCHFA 2017 Essential; Single-Family Rehabilitation ................. 102 15 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Hurricane Matthew – FEMA- 4825-DR-NC ................................. 103 Nonmajor Capital Project Fund 16 Combing Balance Sheet – Nonmajor Capital Projects Fund .............................................. 104 17 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Nonmajor Capital Project Funds ..................................................................................... 105 18 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Retro-Green Capital Project .......................................................... 106 19 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – Capital Reserve Fund ..................................................................... 107 20 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – College Street Railroad Crossing Project ...................................... 108 21 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – General Fund Small Projects ......................................................... 109 22 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual –Fire Pumper Truck .......................................................................... 110 CITY OF KINSTON, NORTH CAROLINA Table of Contents June 30, 2018 Schedule Page Nonmajor Capital Projects Funds (Continued) 23 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual –Grainger Stadium Improvements .................................................... 111 24 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual –South Queen St. Electrical Improvements ...................................... 112 25 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual –Doctors Drive Road and Utility Extension Project ......................... 113 Permanent Fund 26 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual –Temple Israel Perpetual Care Fund ................................................ 114 Enterprise Funds 27 Schedule of Revenues and Expenditures – Budget and Actual – Electric Fund (Non-GAAP)..................................................................................................................... 115 28 Schedule of Revenues and Expenditures – Budget and Actual – Electric Capital Project Fund (Non-GAAP) ............................................................................................... 117 29 Schedule of Revenues and Expenditures – Budget and Actual – Electric Capital Reserve Fund (Non-GAAP) ............................................................................................. 118 30 Schedule of Revenues and Expenditures – Budget and Actual – Water

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