City of Kinston North Carolina

City of KinstoN North Carolina Comprehensive Annual Financial Report Fiscal Year Ended JUNE 30, 2015 Pictured on the cover of the Comprehensive annual financial report for the City of Kinston Historic Grainger Stadium Kinston, North Carolina Located on East Grainger Avenue, the Historic Grainger Stadium is host to the Freedom Classic, which features the United States Naval Academy and the United States Air Force Academy in a three game baseball series. Pre- game ceremonies honor veterans and active duty military. The event attracts thousands from across the United States and is Kinston’s way of saying “thank you” for keeping our country safe. Photo Credits: Bill Ellis CITY OF KINSTON NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 Prepared by City of Kinston Finance Department This page left blank intentionally. CITY OF KINSTON, NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS Exhibit Page Introductory Section Letter of Transmittal i-xv List of Principal Officials xvi Organizational Chart xvii Certificate of Achievement for Excellence in Financial Reporting xviii Financial Section Independent Auditor's Report 1-3 Management's Discussion and Analysis 4-14 Basic Financial Statements A Statement of Net Position 15 B Statement of Activities 16-17 C Balance Sheet - Governmental Funds 18-19 D Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 20 E Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds to the Statement of Activities 21 F Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General Fund 22 G Statement of Net Position - Proprietary Funds 23 H Statement of Revenue, Expenses, and Changes in Fund Net Position - Proprietary Funds 24 I Statement of Cash Flows - Proprietary Funds 25 Notes to the Financial Statements 26-75 CITY OF KINSTON, NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS Schedule Page Supplementary Information A-1 Required Supplementary Information - Law Enforcement Officers' Special Separation Allowance - Schedule of Funding Progress 76 A-2 Required Supplementary Information - Law Enforcement Officers' Special Separation Allowance - Schedule of Employer Contributions 77 A-3 Required Supplementary Information - Separation Allowance Plan 78 A-4 Required Supplementary Information - Other Post-Employment Benefits - Retiree Health Plan 79 A-5 Local Governmental Employees' Retirement System Proportionate Share of Net Pension Liability (Asset) Required Supplementary Information Last Two Fiscal Years 80 A-6 Local Governmental Employees' Retirement System City of Kinston's Contributions Required Supplementary Information Last Two Fiscal Years 81 General Fund 1 General Fund - Balance Sheet 82 2 General Fund - Schedule of Revenues, Expenditures, and Changes In Fund Balance - Budget and Actual 83-84 Governmental Fund Types 3 Nonmajor Governmental Funds - Combining Balance Sheet 85 4 Nonmajor Governmental Funds - Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 86 CITY OF KINSTON, NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS Schedule Page Special Revenue Funds 5 Nonmajor Special Revenue Funds - Combining Balance Sheet 87-88 6 Nonmajor Special Revenue Funds- Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 89-90 7 Community Development Administration - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 91 8 2009 Governor's Crime Commission Equipment Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 92 9 2010 Bulletproof Vest Partnership Grant (BVP) - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 93 10 2010 JAG Recovery Act Relief Project - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 94 11 2011 Edward-Byrne Memorial JAG Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 95 12 2012 Edward-Byrne Memorial JAG Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 96 13 2011 PSN GCC Crossing Boundaries - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 97 14 2009 PSN GCC Project 61 - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 98 15 Bullet Proof Vest Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 99 16 Hurricane Irene - FEMA-4019-DR-NC -Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 100 CITY OF KINSTON, NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS Schedule Page Special Revenue Funds (Cont'd) 17 CDBG Catalyst Grant - Kinston Slum And Bright Elimination Initiative Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 101 18 GCC Body Camera Project - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 102 19 2013 Edward-Byrne Memorial JAG Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 103 20 2014 Edward-Byrne Memorial JAG Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 104 21 GCC 2015 Operation No Boundaries Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 105 22 Brownfields EPA Grant - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 106 Nonmajor Capital Project Funds 23 Nonmajor Capital Project Funds - Combining Balance Sheet 107-108 24 Nonmajor Capital Project Funds - Combining Statement of Revenues, Expenditures, and Changes in Fund Balance 109-110 25 Retro-Green Capital Project - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 111 26 Train Depot Project - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 112 27 Battlefield Parkway/Soccer Complex - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 113 28 Capital Reserve Fund - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 114 CITY OF KINSTON, NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS Schedule Page Nonmajor Capital Project Funds (Cont'd) 29 New Fire Station #3 - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 115 30 Martin Luther King Jr. Blvd. Enhancement Fund - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 116 31 Heritage Street Improvements -Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Budget and Actual 117 32 CWMTF Flood Buy-Out II Capital Project - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 118 33 NEA Our Town Fund - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 119 34 College Street Railroad Crossing Project - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 120 35 Riverwalk Project Phase I - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 121 36 General Fund Small Projects - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 122 Permanent Fund 37 Temple Israel Perpetual Care Fund - Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual 123 Enterprise Funds 38 Electric Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 124-125 CITY OF KINSTON, NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS Schedule Page Enterprise Funds (Cont'd) 39 Electric Capital Project Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 126 40 Electric Capital Reserve Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 127 41 Water Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 128-129 42 Water Capital Project Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 130 43 Water Capital Reserve Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 131 44 Wastewater Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 132-133 45 Wastewater Capital Project Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 134 46 Wastewater Capital Reserve Fund - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 135 Nonmajor Enterprise Funds 47 Nonmajor Enterprise Funds - Combining Statement of Fund Net Position 136 48 Nonmajor Enterprise Funds - Combining Statement of Revenues, Expenses, and Changes in Fund Net Position 137 49 Nonmajor Enterprise Funds - Combining Statement of Cash Flows 138 50 Environmental Services - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 139-140 CITY OF KINSTON, NORTH CAROLINA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS Schedule Page Nonmajor Enterprise Funds (Cont'd) 51 Stormwater - Schedule of Revenues and Expenditures - Budget and Actual (Non-GAAP) 141-142 52 Woodmen of the World Community

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