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Peters Township Washington County, Pennsylvania PETERS TOWNSHIP WASHINGTON COUNTY, PENNSYLVANIA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2020 PETERS TOWNSHIP WASHINGTON COUNTY, PENNSYLVANIA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2020 PREPARED BY: DEPARTMENT OF ADMINISTRATION PAUL F. LAUER TOWNSHIP MANAGER RYAN JEROSKI ASSISTANT TOWNSHIP MANAGER Peters Township Comprehensive Annual Financial Report Year Ended December 31, 2020 Table of Contents Exhibit Page No. INTRODUCTORY SECTION Letter of Transmittal 1 - 10 Organizational Chart 11 List of Principal Officials 12 GFOA Certificate of Achievement 13 FINANCIAL SECTION Independent Auditor's Report 14 - 16 Management's Discussion and Analysis 17 - 27 Basic Financial Statements Government-Wide Financial Statements Statement of Net Position 1 28 Statement of Activities 2 29 Fund Financial Statements Balance Sheet - Governmental Funds 3 30 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position 4 31 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 5 32 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities 6 33 - 34 Statement of Net Position - Proprietary Fund 7 35 Statement of Revenues, Expenses and Changes in Net Position - Proprietary Fund 8 36 Exhibit Page No. FINANCIAL SECTION (CONT'D) Basic Financial Statements (Cont'd) Fund Financial Statements (Cont'd) Statement of Cash Flows - Proprietary Fund 9 37 Statement ofNet Position - Fiduciary Funds 38 Statement of Change in Net Position - Fiduciary Funds 11 39 Notes to Financial Statements 40 - 73 Required Supplementary Information Schedule of Revenues, Expenditures and Changes in Fund Balance - General Fund - Budget and Actual 74 - 81 Note to the Required Supplementary Information Budget Comparison 82 Defined Benefit Pension Trust Funds 83 - 84 Notes to the Required Supplementary Information Defined Benefit Pension Trust Funds 85 Schedule of Changes in the Total OPEB Liability and Related Ratios 86 Combining and Individual Fund Statements and Schedules Combining Balance Sheet- Nonmajor Governmental Funds 87 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 88 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Special Revenue Fund - Highway Aid Fund 89 Special Revenue Fund - Cable Television Fund 90 Special Revenue Fund - Library Fund 91 Debt Service Fund - Series of 2013 92 Debt Service Fund - Series of 2016 93 Debt Service Fund - Series of 2019 94 Capital Projects Fund 95 - 96 Table Page No. STATISTICAL SECTION Net Position by Component - Last Ten Fiscal Years 1 97 Changes in Net Position - Last Ten Fiscal Years 2 98 - 99 Fund Balances, Governmental Funds - Last Ten Fiscal Years 3 100 Statement of Revenue, Expenditures and Changes in Fund Balances - Last Ten Fiscal Years 4 101 - 102 General Governmental Expenditures by Function - Last Ten Fis cal Years 5 103 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fis cal Years 6 104 Property Tax Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 7 105 Ten Largest Real Estate Taxpayers - Current and Ten Years Ago 8 106 Property Tax Levies and Collections - Last Ten Fiscal Years 9 107 Taxable Earned Income and Tax Collected - Last Ten Fiscal Years 10 108 Taxable Earned Income Rates - Direct and Overlapping Governments - Last Ten Fiscal Years 11 109 Earned Income Tax Filers and Liability by Income Level 12 110 Ratio of Outstanding Debt by Type - Last Ten Fiscal Years 13 111 Computation of Direct and Overlapping Debt 14 112 Legal Debt Margin Information - Last Ten Fiscal Years 15 113 Computation of Legal Debt Margin 16 114 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures - Last Ten Fis cal Years 17 115 Table Page No. STATISTICAL SECTION (CONT'D) Principal Employers - Current Year and Ten Years Ago 18 116 Ten Largest Vendors - Current Year and Ten Years Ago 19 117 Age Distribution Related to Total Population 20 118 Population Growth 1920 - 2010 21 119 Household Incomes 22 119 Educational Characteristics - Education Attainment - Persons 25 Years and Older 23 120 Occupation of Employed Persons 16 and Over 24 120 Housing Units by Occupancy 25 121 Value of Specified Owner Occupied Housing Units 26 121 Median Housing Value Comparison 27 121 Authorized Number of Full and Part-time Permanent Positions by Department 28 122 Peters Township Indicators 29 123 - 124 INTRODUCTORY SECTION PETERS TOWNSHIP Peters Township Council WASHINGTON COUNTY David M. Ball, Chairman Robert J. Lewis Paul F. Lauer, Manager Monica R. Merrell, Vice Chairman Frank Kosir, Jr. Ryan Jeroski, Assistant Township Manager Frank Arcuri Gary J. Stiegel, Jr. James F. Berquist June 11, 2021 TO: The Citizens of Peters Township Peters Township's Home Rule Charter requires the annual public presentation of an independent financial audit of the Township conducted by a certified public accountant. I am pleased to submit for your review, the Comprehensive Annual Financial Report of Peters Township for the fiscal year ended December 31, 2020 in fulfillment of this requirement. Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a framework of internal controls that is established for this purpose. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. Hosack, Specht, Muetzel and Wood LLP, Certified Public Accountants, have issued an unmodified opinion on Peters Township's financial statements for the year ended December 31, 2020. The independent auditor's report is located at the front of the financial section of this report. Management's discussion and analysis (MD&A) immediately follows the independent auditor's report and provides a narrative introduction, overview, and analysis of the basic financial statement. Management's discussion and analysis is intended to complement this letter of transmittal and should be read in conjunction with it. The Comprehensive Annual Financial Report is presented in three sections: introductory, financial, and statistical. The introductory section includes this transmittal letter, the government's organizational chart and a list of principal officials. The financial section includes the financial statements with an opinion of the independent certified public accountant based upon their audit. The financial section also includes the management's discussion and analysis (MD&A), which is a narrative introduction, overview and analysis of the basic financial statement. The statistical section includes selected financial and demographic information, generally presented in a multi-year basis. 1 610 EAST MCMURRAY ROAD, MCMURRAY, PA 15317 P 724.941.4180 F 724.942.5022 WWW. peterstownship.com Profile of Government Peters Township is a general unit of local government, and as such, provides a wide variety of public services. These services include: Police Protection Zoning/Code Enforcement Fire Protection Parks and Recreation Road Maintenance Library Planning & Building Inspection Community Television The Township operates through the authority granted by the Peters Township Home Rule Charter. The Charter provides that the Township be governed by a seven (7) member elected Council. The Council is vested with a broad-range of policy-making powers. To assist the Council in formulation of policy, a variety of boards have been created. These include: Planning Commission Environmental Quality Board Zoning Hearing Board Library Board Parks and Recreation Board Youth Commission Cable TV Board Construction Code Board of Appeals Day-to-day administration is the responsibility of the Township Manager. Council appoints the Manager for an indeterminate period. The Township Manager, in turn, recommends to Council the appointment of all Department Heads. The Peters Township Organization Chart, which follows this letter, provides a visual representation of the Township's structure. Local Economy While defining economic issue of 2020 was undoubtedly the COVID-19 pandemic, its impact on the local economy, specifically in regard to residential development, was negligible. Despite the realty industry being essentially closed for a month, the Township experienced its second-highest ever collection of Real Estate Transfer Tax ($2.1 million). The number of building permits issued for new residential construction units in 2020 was 85; a 55% surge over the 55 issued in 2019. In addition, eight (8) new residential developments totaling 219 single-family lots were approved in 2020, a 100 unit increase over 2019. The combined total of residential units approved from 2017 to 2020 (893) is more than the combined total from 2008 to 2016 (577). Two new residential zoning overlays adopted by Council in late 2016 were a contributing catalyst to this boom. The total estimated construction value approved by building permits in 2020 was $44,748,699. An increase in collection of Earned Income Tax in 2020 of $151,050 or 2.4% over 2019 collections, indicates that the impact of the pandemic on residents may have been insignificant as well. Commercial activity in the Township did dip in 2020, with only 27,694 square-feet of space approved, a 30% decline from 2019. While six (6) commercial properties
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