Audit Report 09.30.1980 I
' CITY OF OKEECHOBEE, FLORIDA
' FINANCIAL STATEMENTS
September 30, 1980
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iMcALPIN CURTIS&ASSOCIATES.( RTIFIEU Iann.I('AcccrovrANIs
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' CITY OF OKEECHOBEE, FLORIDA
CITY OFFICIALS
' September 30, 1980
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' MAYOR - COUNCIL
Mayor and President of Council Edward W. Douglas
' Councilman Oakland Chapman
' Councilman Donald L. Burk
Councilman Lytle Raulerson
' Councilman J. H. Knight
ADMINISTRATIVE
City Clerk Bonnie S. Thomas
City Attorney David Conlon
Director of Public Works L. C. Fortner, Jr.
Chief of Police Larry Mobley
' Chief of Fire Department Louis K. Tomey, II
Building Inspector J. M. Westbrook
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MCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC .0 C.(1
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CITY OF OKEECHOBEE, FLORIDA
IIFINANCIAL STATEMENTS
September 30, 1980
II TABLE OF CONTENTS
I Page
Accountants' Report 1
IIFinancial Section
Combined Balance Sheet - All Fund Types and Account Groups 2
I Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Governmental Fund Types 4
I Combined Statement of Revenues, Expenditures and Changes .
in Fund Balances - Budget and Actual - General and
Special Revenue Fund Types 5
IICombined Statement of Revenues, Expenses and Changes in
Retained Earnings/Fund Balances - All Proprietary Fund
IITypes and Similar Trust Funds 6
Combined Statement of Changes in Financial Position -
All Proprietary Fund Types and Similar Trust Funds 7
Notes to Financial Statements 8
IIOther Financial Information
Accountants' Report On Other Financial Information 10
I Statement to Bondholders 11
Combining Balance Sheet - All Fiduciary Fund Types 12
Combining Statement of Revenues, Expenses and Changes
I in Fund Balances - All Fiduciary Fund Types 13
Combining Statement of Changes in Financial Position -
All Fiduciary Fund Types 14
II Schedule of General Fund Revenues - Budget and Actual 15
Schedule of Fund Revenues - Budget and Actual 16
Federal Revenue Sharing Fund
I Debt Service Fund
Schedule of General Fund Expenditures - Budget and Actual 17
Schedule of Fund Expenditures - Budget and Actual - 19
I General Fund - Other Financing Uses
Federal Revenue Sharing Fund
Debt Service Fund
I Schedule of Changes in General Fixed Assets 20
Schedule of Changes in Reserve Accounts - Water and Sewer Fund 21
tStatistical Tables
Schedule of Bond Principal and Interest to Maturity
II General Obligation Bonds 22
1958 Water and Sewer Revenue Bonds 23
1972 Water and Sewer Revenue Bonds 24
' Schedule of Insurance Coverage 25
Schedule of Assessed Values, Tax Levies and Rates -
Last Ten Years 26
I Schedule of Revenues and Utility Customers -
Last Ten Years 27
IIMCALPIN CURTIS&ASSOCIATE,CERTIFIED I'UIU rr A(
IMCALPIN, CURTIS IRA M.W M.1'tx.Ik.C.P.A. 111 ORANGE AVENUE
LYMAN U.CURTIS.C.P.A.
& ASSOCIATES L.LEE THOMAS.C.P.A. P.O. BOX 3346
GERALD A.DtBARTOLOMIEO..IR..C.P.A. FORT PIERCE',FLORIDA 33450
I ROBERT W.SUMMERUAYS..IR.C.P.A
CERTIFIED PUBLIC ACCOUNTANTS ROBERT k.LYONS.C.P.A. (305)461-6120
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Honorable Mayor and City Council
City of Okeechobee
Okeechobee, Florida
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We have examined the combined financial statements of the City of
Okeechobee at September 30, 1980 and for the year then ended as listed
in the financial section of the foregoing Table of Contents (pages 2-9
inclusive). Our examination was made in accordance with generally ac-
cepted auditing standards and accordingly included such tests of the ac-
counting records and such other auditing procedures as we considered
necessary in the circumstances.
The City does not maintain detailed records of the Water and Sewer
Property or General Fixed Assets, nor is adequate control maintained
over capital additions and retirements, particularly as with regard
to items constructed by the City. We do not know, and it is impractical
to ascertain, if the recorded cost of property and equipment in the
Water and Sewer Fund and in the Statement of General Fixed Assets is a
fair presentation of the cost of the City investment in Fixed Assets.
In our opinion, except for the effect of the lack of records and con-
trols on the assets and net income in the Water and Sewer Fund and assets
in the Statement of General Fixed Assets, the aforementioned combined
financial statements present fairly the financial position of the City
' of Okeechobee, Florida at September 30, 1980 and the results of its
operations and the changes in financial position of the proprietary
and trust fund types for the year then ended in conformity with gen-
erally accepted accounting principles applied on a basis consistent
with that of the preceding year.
McAlpin, urtis & Associates
Certified Public Accountants
11 December 2, 1980
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CITY OF OKEECHOBEE, FLORIDA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1980
Governmental Fund Types
Federal
Revenue Debt
Assets General Sharing Service
Cash $149,396 $16,327 $ 3,032
Certificates of deposit 400,000 124,133
Receivables (net of allowances for
uncollectibles):
Accounts
Accrued interest 5,247
Due from other funds 143
Inventory 2,733
Restricted assets:
Cash
Certificates of deposit
Land and improvements
Buildings and improvements
Furnishings and equipment
Rolling stock
Utility Plant in service
Accumulated depreciation
Amount available in Debt Service Fund
Amount to be provided for retirement
of long-term debt
Total Assets $557,519 $16,327 $.127,165
See Notes to Financial Statements
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MCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
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IProprietary Fiduciary
I Fund Types Fund Types
Water Account Groups Totals
General General (Memorandum Only)
and Pension Fixed Long-Term September 30,
ISewer Funds Assets Debt 1980 1979
$ 179,537 $ 41,397 $ 389,689 $ 227,225
I425,019 242,621 1,191 ,773 1,629,619
I 46,814 46,814
10,377 118,717
5,130 41 ,176
125 14,297 14,565 125
., 2,733 3,400
27,654 27,654 27,672
I 80,167 80,167 80,167
$507,864 507,864 128,712
133,748 133,748 97,758
I 125,852 125,852
194,233 120,677
194,233 184,951
3,916,156 3,916,156 3,586,231
I (831,871) (831,871)
125,153 (733,967)
$125,153 117,069
I259,847 259,847 282,931
$3,848,731 $298,315 $961 ,697 $385,000 $6,194,754 $5,912,463
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IIMCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
CITY OF OKEECHOBEE, FLORIDA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
September 30, 1980
Governmental Fund Types
Federal
Revenue Debt
Liabilities and Fund Equity General Sharing Service
Liabilities
Accounts payable $ 28,247
Employee payroll deductions
Contracts payable
Water deposits
Payable from restricted assets:
Matured interest coupons
Due to other funds
Deferred revenues 9,895
Matured bonds and interest coupons $ 2,012
Revenue bonds payable (Note 2)
General obligation bonds payable
(Note 3)
Total Liabilities 38,142 2,012
Fund Equity
Investments in General Fixed Assets
Contributed capital (Note 4)
Retained earnings:
Reserve for Revenue Bond Retire-
ment (Note 5)
Reserve for Depreciation Fund
(Note 6)
Unreserved
Fund balances:
Reserved for employees' retire-
ment system
Unreserved:
Designated for Debt Service 125,153
Undesignated 519,377 $16,327
Total Fund Equity 519,377 16,327 125,153
Total Liabilities
and Fund Equity $557,519 $16,327 $1.27,165
See Notes to Financial Statements
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MCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
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Proprietary Fiduciary
I Fund Types
Water Fund Types Account Groups Totals
(Memo General General (Memorandum Only)
and Pension Fixed Long-Term September 30,
ISewer Funds Assets Debt 1980 1979
I $ 34,729 $ 62,976 $ 53,050
6,190
42,494 42,494 53,419
I77,425 77,425 73,115
1 ,080 1,080 1,148
I 125 $ 14,440 14,565 125
9,895 10,544
2,012 2,012
I531 ,000 531,000 553,000
$385,000 385,000 400,000
I686,853 14,440 385,000 1,126,447 1,152,603
I $961 ,697 961 ,697 532,098
1 ,958,521 1,958,521 1,651,275
I74,849 74,849 74,978
1 31 ,767 31,767 31,767
1,096,741 1,096,741 1 ,031,943
I283,875 283,875 195,905
I 125,153 117,069
535,704 1,124,825
I3,161 ,878 283,875 961 ,697_ 5,068,307 4,759,860
I $3,848,731 $298,315 $961 ,697 $385,000 $6,194,754 $5,912,463
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IMCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
CITY OF OKEECHOBEE, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
GOVERNMENTAL FUND TYPES
Year Ended September 30, 1980
Federal
Revenue Debt
General Sharing Service
Revenues
Taxes $ 390,487 $ 40,000
Licenses and permits 34,492
Intergovernmental revenues 250,985 $ 86,544
Charges for services 6,189
Fines and forfeitures 19,827
Miscellaneous 68,714 11,109
Total Revenues 770,694 86,544 51,109
Expenditures
General government 640,021
Public safety 423,266
Physical environment 15,213
Transportation 206,533
Human services 13,533
Parks and recreation 7,041
Debt Service:
Principal retirement 15,000
Interest and fiscal charges 28,025
Total Expenditures 1 ,305,607 43,025
Excess (Deficiency) of Revenues
Over Expenditures (534,913) 86,544 8,084
Other Financing Sources and (Uses)
Operating transfers - in 90,122
Operating transfers - out (5,863) (225,011)
Total Other Financing
Sources and (Uses) 84,259 (225,011)
Excess of Revenues and Other Sources
Over (Under) Expenditures and Other
Uses (450,654) (138,467) 8,084
Fund Balance - October 1 , 1979 970,031 154,794 117,069
Fund Balance - September 30, 1980 $ 519,377 .$ 16,327 $125,153
See Notes to Financial Statements
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McAI PIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
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Totals
(Memorandum Only)
September 30,
1 980 1979
$ 430,487 $ 397,048
' 34,492 31,407
337,529 350,425
6,189 1,049
' 19,827 18,125
79,823 96,818
908,347 894,872
640,021 209,294
423,266 403,259
15,213 12,460
206,533 163,970
13,533 11 ,924
7,041
15,000 15,000
28,025 29,400
1 ,348,632 845,307
(440,285) 49,565
90,122 84,481
(230,874) (128,022)
(140,752) (43,541)
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(581,037) 6,024
1 ,241 ,894 1 ,235,870
$ 660,857 $1 ,241 ,894
MCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
CITY OF OKEECHOBEE, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL AND SPECIAL REVENUE FUND TYPES
Year Ended September 30, 1980
General Fund
Over
(Under)
Budget Actual Budget
Revenues
Taxes $ 356,915 $ 390,487 $ 33,572
Licenses and permits 29,800 35,161 5,361
Intergovernmental revenues 243,450 250,985 7,535
Charges for services 5,620 5,520 (100)
Fines and forfeitures 18,700 19,827 1 ,127
Miscellaneous 40,748 68,714 27,966
Total Revenues 695,233 770,694 75,461
Expenditures
General government 662,607 640,021 • (22,586)
Public safety 426,130 423,266 (2,864)
Physical environment 15,338 15,213 (125)
Transportation 239,990 206,533 (33,457)
Human services 14,940 13,533 (1 ,407)
Parks and recreation 6,050 7,041 991
Contingencies 9,500 -0-
Total Expenditures 1,374,555 1,305,607 -768,948)
Excess (Deficiency) of Revenues
Over Expenditures (679,322) (534,913) (144,409)
Other Financing Sources and (Uses)
Operating transfers - in 103,715 90,122 13,593
Operating transfers - out (5,865) (5,863) 2
Total Other Financing .
Sources and (Uses) 97,850 84,259 13,591
Excess (Deficiency) of Revenues
and Other Sources Over Expen-
ditures and Other Uses (581 ,472) (450,654) (130,818)
Fund Balance - October 1, 1979 970,031 970,031 -0-
Fund Balance - September 30, 1980 $ 388,559 $ 519,377 $(130,818)
See Notes to Financial Statements
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MCALPIN CURTIS&ASSOCIATES,CERTIFIED.PUBLIC ACCOUNTANTS
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IFederal Revenue Sharing .Fund Totals
Over (Memorandum Only) Over
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Budget Actual Budget Budget Actual Budget
I $ 356,915 $ 390,487 $ 33,572
29,800 35,161 5,361
$ 83,810 $ 86,544 $ 2,734 327,260 337,529 10,269
t 5,620 5,520 (100)
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18,700 19,827 1,127
3,000 (3,000) 43,748 68,714 24,966
I86,810 86,544 (266) 782,043 857,238 75,195
I 662,607 640,021 (22,586)
426,130 423,266 (2,864)
15,338 ' 15,213 (125)
II 239,990 206,533 (33,457)
14,940 13,533 (1,407)
6,050 7,041 991
9,500 -0- (9,500)
1,374,555 1,305,607 (68,948)
II86,810 86,544 (266) (592,512) (448,369) (144,143)
II103,715 90,122 (13,593)
(238,604) (225,011) (13,593) (244,469) (230,874) (13,595)
I (238,604) (225,011) (13,593) (140,754) (140,752) (2)
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(151 ,794) (138,467) 13,327 (733,266) (589,121) (144,145)
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154,794 154,794 -0- 1,124,825 1,124,825 -0-
' $ 3,000 $ 16,327 $ 13,327 $ 391 ,559 $ 535,704 $(144,145)
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IIMCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
IICITY OF OKEECHOBEE, FLORIDA
I COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES
IN RETAINED EARNINGS/FUND BALANCES
I ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
Year Ended September 30, 1980
I Proprietary Fiduciary
Fund Type Fund Type Totals
Water and Pension (Memorandum Only)
I Operating Revenues Sewer Fund Funds 1980 1979
Charges for services $ 629,006 $ 629,006 $ 582,973
Interest and dividends $ 22,731 22,731 10,720
I Contributions 77,825 77,825 63,626
Contributions transferred 13,927 13,927
Hydrant Rental 23,280 23,280 22,440
ITotal Operating Revenues 652,286 114,483 766,769 679,759
Operating Expenses
I Salaries and wages 193,340 193,340 168,796
Payroll taxes 13,769 13,769 11,426
Group insurance 8,209 2,787 10,996 7,789
I Chemicals 89,325 89,325 66,213
Materials and supplies 57,773 57,773 37,537
Truck expense 14,912 14,912 10,570
I Electricity 59,443 59,443 48,725
General insurance 12,583 12,583 14,072
Repairs 33,496 33,496 20,033
I Office expense 7,181 7,181 7,195
Legal and audit 13,297 13,297 6,617
Engineering fees 5,411 5,411 24,825
I Pension plan contribution 9,964 9,964 10,500
Contributions transferred 13,927 13,927
Telephone 1,530 1,530 1 ,529
I Miscellaneous 5,145 5,145 5,266
Depreciation 97,904 97,904 89,655
Refunds on terminations 8,149 8,149 16,867
I Benefits paid on surrender
of insurance policies 2,532
Actuarial fees 1,650 1,650 1,810
ITotal Operating Expenses 623,282 26,513 649,795 551,957
Operating Income 29,004 87,970 116,974 127,802
I Non-Operating Revenues (Expenses)
Interest revenue 53,657 53,657 33,288
Miscellaneous 2,935 2,935 5,557
I Interest expense (26,790) (26,790) (27,760)
Total Non-Operating Revenues
(Expenses) 29,802 29,802
11 ,085
IIncome Before Operating
Transfers 58,806 146,776
IIOperating Transfers In 5,863 5,863
Net Income 64,669 87,970 152,639 138,887
II Retained Earnings/Fund Balance -
October 1 , 1979 1,138,688 195,905 1 ,334,593 1,195,706
II Retained Earnings/Fund Balance -
September 30, 1980 $1 ,203,357 $283,875__ $1 ,487,232 $1,334,593
See Notes to Financial Statements
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IICITY OF OKEECHOBEE, FLORIDA
ICOMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS
IIYear Ended September 30, 1980
IIProprietary Fiduciary
II Fund Type Fund Type Totals _
Water and Pension (Memorandum Only)
Sewer Fund Funds 1980 1979
I Sources of Working Capital
Operations:
Net income $ 64,669 $87,970 $152,639 $138,887
11 Item not requiring working
capital - depreciation 97,904 97,904 89,655
Working Capital Provided
I By Operations 162,573 87,970 250,543 228,542
Contributed capital 307,246 307,246 265,607
Increase (Decrease) in liabilities
II payable from restricted assets (68) (68) 1,058
Total Sources of Working Capital 469,751 87,970 557,721 495,207
I Uses of Working Capital
Additions to utility plant 329,925 329,925 496,948
Increase (Decrease) in restricted
I assets (18)
28,000 (18) 762
Payments on long-term debt 000 28,000 34,300
Payments on contract _ 14,097
IITotal Uses of Working Capital 357,907 357,907 546,107
Net Increase (Decrease) in
11 Working Capital $111 ,844 $87,970 $199,814 $(50,900)
Elements of Net Increase (Decrease)
II in Working Capital
Cash $ 63,699 $ 5,507 .$ 69,206 $(90,356)
Certificates of deposit 134,724 82,606 217,330 30,712
II Due from other funds 14,297 14,297 -0-
Cash surrender value of life
insurance (15,884)
l Receivables (74,460) (74,460) 9,198
Accounts payable (14,625) (14,625) (8,805)
Due to other funds (14,440) (14,440) -0-
II Employee payroll deductions 1 ,891 1,891 (66)
Contracts payable 10,925 10,925 29,563
Current portion of long-term debt (6,000) (6,000) (13,300)
I Water deposits
Escrow deposits (4,310) (4,310) (3,232)
11,270
I Net Increase (Decrease) in
Working Capital $111 ,844 $87,970 $199,814 $(50,900)
IISee Notes to Financial Statements
I7 -11 MCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANTS
IICITY OF OKEECHOBEE, FLORIDA
INOTES TO FINANCIAL STATEMENTS
September 30, 1980
INote 1 - Significant Accounting Policies
Generally accepted accounting principles applicable to local governmental units
I have been promulgated by the Municipal Finance Officers Association's National
Committee on Governmental Accounting and the American Institute of Certified Public
Accountants' Committee on Governmental Accounting and Auditing. The accounting
I policies of the City of Okeechobee conform to these generally accepted accounting
principles.
I Basis of Accounting - The modified accrual basis of accounting is followed for all
governmental funds. Under the modified accrual basis of accounting, revenues are
recognized in the accounting period in which they become susceptible to accrual and
I expenditures are recognized in the accounting period in which the liability is in-
curred. Proprietary and fiduciary funds follow the accrual basis of accounting.
Investments - Investments in certificates of deposit are stated at cost.
IGeneral Fixed Assets - General fixed assets are recorded as expenditures in the
General Fund at the time of purchase and capitalized at cost in the general fixed
I asset group of accounts.
Utility Plant - Additions to Utility Plant are stated at cost. Depreciation is
computed on a composite annual rate of 2-1/2 percent.
INote 2 - Revenue Bonds Payable
The 1958 Water and Sewer Revenue Bonds are secured by a pledge of net revenues of the
I Water and Sewer System and the utility taxes. The bonds bear interest at the rate of
4-1/2 percent and are due in annual principal installments ranging from $16,000 to
$23,000 with the final payment due in 1988.
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The 1972 Water and Sewer Revenue Bonds are secured by a pledge of net revenues of the
Water and Sewer System and cigarette taxes. The bonds bear interest at the rate of
I 5 percent and are due in annual principal installments ranging from $5,000 to $24,000
with the final payment due in 2012. •
I Note 3 - General Obligation Bonds Payable
The general obligation bonds are secured by the full faith and credit of the City.
The bonds are being retired by a levy of ad valorem taxes. The bonds bear interest
I at rates varying between 6.75 percent to 7.5 percent and are due in annual principal
installments ranging from $15,000 to $35,000 with the final payment due in 1996.
I Note 4 - Contributed Capital
The source and additions to contributed capital are as follows:
I Source Balance Balance
October 1, 1979 Additions September 30, 1980
I Connection fees $ 167,838 $ 15,650 $ 183,488
Developers 150,238 141 ,323 291 ,561
Federal grant 71 ,160 71,160
I Local Public Works Grant 402,356 15,384 417,740
Federal Revenue Sharing Funds 484,683 134,889 619,572
General Fund 100,000 100,000
I Okeechobee Beach Water
Association 275,000 275,000
Total $1,651 ,275 $307,246 $1 ,958,521
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IIMCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
CITY OF OKEECHOBEE, FLORIDA
iNOTES TO FINANCIAL STATEMENTS (CONTINUED)
September 30, 1980
Note 5 - Revenue Bond Reserve and Retirement Funds
The 1958 and 1972 Water and Sewer Revenue Bond Ordinances require, among other things,
11 deposits on a monthly basis, of amounts necessary to provide for semi-annual interest
and annual principal requirements. In addition, the 1958 Revenue Bond Ordinance re-
quires a reserve equal to the largest annual bond principal and interest payment while
the 1972 Revenue Bond Ordinance requires a reserve of $23,400. At September 30, 1980,
the amounts required and the amounts on deposit are as follows:
1958 Revenue 1972 Revenue
Bonds Bonds
Maximum reserve $24,975 $23,400
' Deposits for bond principal and
interest requirements 6,244 17,850
Matured interest coupons 1,080
Balance of construction funds
required to be deposited in
Sinking Fund 2,380
Reserve Balance - September 30, 1980 32,299 43,630
Due to Revenue Fund 125
Cash Balance - September 30, 1980 $32,424 $43,630
Note 6 - Depreciation Fund
The 1958 Water and Sewer Revenue Bond Ordinance requires that a Depreciation Fund of
$25,000 be maintained. The Fund may be used, with the approval of the City Council,
to pay for capital additions or unforeseen emergencies. At September 30, 1980, the
Fund was $6,767 in excess of requirements.
Note 7 - Pensions
The City has three pension plans, which cover substantially all employees except the
City Council, Mayor, and City Attorney, The total pension expense for the year 1980
was $22,987. The actuarially computed value of vested benefits for all plans as of
January 1 , 1980 was $49,784.
Note 8 - Litigation
The City is currently engaged in complex litigation, the exact contingencies of which
cannot be ascertained at this time.
In the case known as Brown vs the City of Okeechobee, which was filed as a civil
rights class action in the federal courts, the plaintiffs are seeking in addition
to injunctive relief, the payment of $740,000.
In the case of the City vs La Grow Irrigation, the City is suing the contractor and
engineer for breach of contract in construction of a water holding tank and the City
is refusing to pay the last draw on the contract of $60,000. The contractor has
countersued for damages.
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McALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANT.,
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I MCALPIN, CURTIS IRA M N II.CURTIS, (•PA 111 ORANGE AVENUE
Ll D1A\B.cuen�,c..P A P.O. BOX 3346
L.i.EE TI IOMAS.C.P.A
& ASSOCIATES GERAALD A.DiBARTOLOMEO.JR..C.P.A. FORT PIEKCE,FLORIDA 33450
IROBERT W.SUMMERIIAN'S.JR..C.P.A.
CERTIFIED PUBLIC ACCOUNTANTS ROBERT K.LYONS.C.Y.A. (305)461-6120
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IHonorable Mayor and City Council
City of Okeechobee
IOkeechobee, Florida
IOur examination of the combined financial statements of the City of
Okeechobee, Florida was made primarily for the purpose of formulating
I an opinion on the combined financial statements taken as a whole.
The information presented on Pages 11 through 21 inclusive, although
not considered necessary for a fair presentation of financial position,
I results of operations, and changes in financial position in conformity
with generally accepted accounting principles, is presented for supple-
mentary analysis purposes. This information has been subjected to the
I audit procedures applied in our examination of the combined financial
statements and is, in our opinion, fairly stated in all material re-
spects in relation to the basic combined financial statements taken as
Ia whole.
McAlpin, eurtis & Associates
ICertified Public Accountants
December 2, 1980
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IMcALPIN, CURTIS IRA M MrALI'IN..IR.C.P.A. 111 ORANGE AVENUE
LYMAN B.CURTIS.C.PA 111
BOX 3346
ASSOCIATES L.LEE THOMAS.C 1'.A
GERALD A.DIBARTOLOMEO..JR..C.P.A. FORT PIERCE,FLORIDA 33450
ROBERT W.SUMMERIIAYS..JR..CPA 305)461-6120
CERTIFIED PUBLIC ACCOUNTANTS ROBERT R.LYONS.C.P.A.
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II Honorable Mayor and City Council
City of Okeechobee
Okeechobee, Florida
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I We have examined the combined financial statements of the City of
Okeechobee, Florida for the year ended September. 30, 1980. Our examina-
tion was made in accordance with generally accepted auditing standards
I and accordingly included such tests of the accounting records and such
other auditing procedures as we considered necessary in the circumstances.
I The ordinance authorizing the issuance of the 1958 Water and Sewer
Revenue Bonds requires that the audit contain an analysis regarding
the adequacy of the acts of the City and its officers in carrying out
Ithe requirements of the resolution.
Among the requirements of the ordinance are the following:
I (1) Money in the Sinking Fund in excess of the amount
I of interest and principal coming due in the ensuing
twelve months may be invested in direct obligations
or guaranteed securities of the United States of
America.
II (2) All or any part of the Depreciation Fund may be
invested in direct obligations or guaranteed
t
securities of the United States of America.
I The investments made from the Sinking Fund and Depreciation Fund during
the year were in certificates of deposit in the Okeechobee County Bank
and First Savings and Loan Association of Okeechobee County. Nothing
' came to our attention that caused us to believe that any other require-
ments of the 1958 Water and Sewer Revenue Bond Ordinance were not complied
with. However, it should be noted that our examination was not directed
IIprimarily toward obtaining knowledge of such noncompliance.
•
McAlpin, urtis & Associates
ICertified Public Accountants
December 2, 1980
I
II
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1
I
CITY OF OKEECHOBEE, FLORIDA
COMBINING BALANCE SHEET
' ALL FIDUCIARY FUND TYPES
Year Ended September 30, 1980
' General Police Fire
Employees Employees Employees Total Total
ASSETS Pension Pension Pension 1980 1979
' Cash $ 14,078 $ 22,627 $ 4,692 $ 41,397 $ 35,890
' Certificates of deposit 94,820 93,858 53,943 242,621 160,015
Due from other funds 14,297 14,297
TOTAL ASSETS $123.195 $116,485 $ 58,635 $298,315 $195,905
' LIABILITIES AND FUND EQUITY
Liabilities
' Due to other funds $ 143 $ 14,297 $ 14,440
Fund Equity
Fund balance 123,052 102,188 $ 58,635 283,875 $195,905
TOTAL LIABILITIES AND —FUND EQUITY $123.195 $116,485 $ 58.635 $298,315 $195,905
'
- 12 -
IIMcALPIN CURTIS&ASSOCIATES,CERT1IIE1r PUBLIC ACCOUNTANTS
II
CITY OF OKEECHOBEE, FLORIDA
IICOMBINING STATEMENT OF REVENUES, EXPENSES
IAND CHANGES IN FUND BALANCES
ALL FIDUCIARY FUND TYPES
IIYear Ended September 30, 1980
IIGeneral Police Fire
Employees Employees Employees Total Total
IIPension Pension Pension 1980 1979
Operating Revenues
I Municipal contributions
Employee contributions $ 18,254 $ 4,295 $ 437 $ 22,986 $ 20,400
18,220 8,311 4,344 30,875 26,268
Contributions transferred 13,927 13,927
II Interest 8,596 9,278 4,857 22,731 10,720
State contributions 17,923 6,041 23,964 16,958
Total Operating Revenues 58,997 39,807 15,679 114,483 74,346
II Operating Expenses
Actuarial fee 977 429 244 1,650 1,810
II Group insurance 1,674 920
1, 193 2,787 1,974
Refunds on termination 4,340 560 2,249 8,149 16,867
Contributions transferred 13,927 13,927
1 Benefits paid on surrender
of insurance policies 2,532
Total Operating Expenses 6,991 16,836 2,686 26,513 23,183
IINet Income 52,006 22,971 12,993 87,970 51 ,163
IFund Balance - October 1 , 1979 71 ,046 79,217 45,642 195,905 144,742
Fund Balance -
' September 30, 1980 $123,052 $102,188 $ 58,635 $283,875 $195,905.
II
II
II
II
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- 13 -
IIMcALPIN CURTIS&ASSOCIATES.ceimeIEU PUBLIC ACC UUNTA\TS
CITY OF OKEECHOBEE, FLORIDA
11 COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL FIDUCIARY FUND TYPES
Year Ended September 30, 1980
General Police Fire
Employees Employees Employees Total Total
Pension Pension Pension 1980 1979
Sources of Working Capital
Net income $52,006 $ 22,971 $12,993 $ 87,970 $ 51,163
' Net Increase in
Working Capital $52,006 $ 22,971 $12,993 $ 87,970 $ 51,163
11 Elements of Net Income (Decrease)
in Working Capital
Cash $(3,722) $ 9,495 $ (266) $ 5,507 $(13,359)
Certificates of deposit 41,574 27,773 13,259 82,606 80,406
Due from other funds 14,297 14,297
' Cash surrender value of
life insurance (15,884)
Due to other funds (143) (14,297) (14,440)
1 Net Increase in
Working Capital $52,006 $ 22,971 $12,993 $ 87,970 $ 51 ,163
1
11
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- 14 -
1 MCALPIN CURTIS&ASSOCIATES.CERTIFIED MIMIC ACCOUNTANTS
1
CITY OF OKEECHOBEE, FLORIDA
IISCHEDULE OF GENERAL FUND REVENUES - BUDGET AND ACTUAL
IIYear Ended September 30, 1980
•
II Over
(Under)
I Budget Actual Budget
Taxes
Ad valorem taxes $174,915 $179,043 $ 4,128
II Franchise fees 90,000 110,587 20,587
Utility service taxes 92,000 100,857 8,857
356,915 390,487 33,572
ILicenses and Permits
Occupational licenses 19,000 20,084 1 ,084
II Building permits 4,200 9,420 5,220
Animal licenses 3,400 669 (2,731)
Competency cards 3,200 3,575 375
II Rezoning and variance fees 1 ,413 1 ,413
29,800 35,161 5,361
Intergovernmental Revenues
I State shared revenue
Cigarette tax 62,000 64,001 2,001
State revenue sharing 176,000 176,013 13
I Mobile home licenses 4,250 2,093 (2,157)
Homestead Exemption Trust Fund -0- 6,596 6,596
Alcoholic beverage licenses -0- 1,334 1 ,334
II Gasoline tax refund 1 ,200 948 (252)
243,450 250,985 7,535
11 Charges for Services
Fire protection service 5,520 5,520 -0-
Humane Department fees 100 -0- (100)
I5,620 5,520 (100)
Fines and Forfeitures
II Court fines 18,000 19,104 1,104
Police education 700 723 23
II 18,700 19,827 1 ,127
Miscellaneous
Interest earnings 38,748 61,733 22,985
IIOther 2,000 23 (1,977)
Insurance proceeds -0- 6,958 6,958
II40,748 68,714 27,966
Total $695,233 $770,694 $75,461
I
II
II
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' MCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOU rANrs
CITY OF OKEECHOBEE, FLORIDA
tSCHEDULE OF FUND REVENUES - BUDGET AND ACTUAL
Year Ended September 30, 1980
' Over
(Under)
' Federal Revenue Sharing Fund Budget Actual Budget
Intergovernmental Revenue
' Federal revenue sharing proceeds $83,810 $86,544 $ 2,734
Miscellaneous
Interest earnings 3,000 (3,000)
Total $86,810 $86,544 $ (266)
' Debt Service Fund
Taxes
' Ad valorem taxes $38,284 $40,000 $ 1 ,716
Miscellaneous
' Interest earnings 11,984 11,109 (875)
Total $50,268 $51 ,109 $ 841
General Fund
' Other Financing Sources
Operating transfers - in $103,715 $90,122 $(13,593)
' - 16 -
IIMcALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
ICITY OF OKEECHOBEE, FLORIDA
SCHEDULE OF GENERAL FUND EXPENDITURES - BUDGET AND ACTUAL
II Year Ended September 30, 1980 Over
(Under)
I General Government Budget Actual Budget
Legislative
City Council salaries $ 8,160 $ 8,160
II Chairman salary 4,200 4,200
City Council expense 3,000 3,000
15,360 15,360
Executive
I City Clerk's salary 12,500 12,501 $ 1
City Clerk's office expense 750 750
City Clerk's capital outlay 900 2,279 1,379
' 14,150 15,530 1,380
Financial and Administrative
Deputy Clerks' salaries 27,290 27,290
I City Clerk's office - overtime 1,445 1 ,473 28
Clerk's office expense 5,840 5,107 (733)
Clerk's office equipment repair 3,620 305 (3,315)
I Audit fee 5,000 4,975 (25)
Board of Adjustment fees 1 ,500 1,500
44,695 40,650 (4,045)
I Legal Counsel
City Attorney's salary 10,000 10,000
City Attorney's expense 300 -0- (300)
II Attorney special fees 3,000 17,253 14,253
Discrimination suit 15,000 10,309 (4,691)
28,300 37,562 9,262
II Comprehensive Planning and Zoning
Planning board fees 1,800 1,725 (75)
Contractual services 6,800 382 (6,418)
t Maps and reproductions 2,050 328 (1 ,722)
10,650 2,435 (8,215)
Other General Governmental Services
I Telephone and telegraph 7,400 7,766 366
City Hall operation and maintenance 10,000 11 ,996 1 ,996
New construction and additions 383,662 383,152 (510)
II Department of Public Works - director
and assistant salaries 5,145 4,892 (253)
Department of Public Works - secretary
I salary 5,305 5,318 13
Department of Public Works - equipment
and office expense 1,250 1,450 200
1 Termite control 75
4,5 73
5,002 (2)
Communication expense 60 02 442
Donations 13,500 13,500
I Utilities 3,500 2,354 (1 ,146)
Health insurance 12,050 12,298 248
Disability insurance 2,350 2,453 103
I General insurance 37,500 29,274 (8,226)
City Hall landscaping 2,500 703 (1,797)
Payroll taxes 29,580 28,955 (625)
II Unemployment taxes 300 -0- (300)
City Clerk's retirement 4,740 4,739 (1)
Pension plan payments 23,500 13,023 (10,477)
I Employee Christmas bonus 585 585
Condemnation proceedings 1 ,500 -0- (1,500)
Other 450 951 501
II 549,452 528,484 (20,968)
Total - General Government 662,607 640,021 (22,586)
I - 17 -
McALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
ICITY OF OKEECHOBEE, FLORIDA
SCHEDULE OF GENERAL FUND EXPENDITURES - BUDGET AND ACTUAL (CONTINUED)
IYear Ended September 30, 1980 Over
(Under)
' Budget Actual Budget
Public Safety
Law Enforcement
I Salaries $ 221 ,455 $ 211 ,480 $ (9,975)
Overtime 6,500 4,970 (1,530)
Incentive pay 5,560 6,052 492
' Education 700 450 (250)
Investigation 400 274 (126)
Operating expense 34,485 37,236 2,751
II Crime lab 2,145 1 ,606 (539)
Capital outlay 8,450 12,727 4,277
279,695 274,795 (4,900)
I Fire Control
Salaries 87,245 88,770 1,525
Overtime 2,500 1 ,726 (774)
I Operating expense 12,100 13,667 1,567
Capital outlay 1,000 318 (682)
Hydrant demand charge 23,280 23,280
II 126,125 127,761 1,636
Protective Inspections
Building official salary 16,075---- 16,660 585
II Expense allowance 2,860 2,674 (186)
Office expense 1 ,175 1 ,376 201
20,110 20,710 600
I Emergency and Disaster Relief Services -
Civil Defense 200 -0- (200)
Total - Public Safety 426,130 423,266 (2,864)
IPhysical Environment
Garbage/Solid Waste Control Services
IRefuse collection 15,338 15,213 (125)
Transportation
II Road and Street Facilities
Salaries 67,690 60,528 (7,162)
Mechanic 11,050 9,817 (1,233)
I Overtime 2,500 3,455 955
Operating expense 60,735 38,013 (22,722)
Capital outlay 22,750 15,818 (6,932)
I Street lighting 44,000 46,912 2,912
City barn addition 31,265 31 ,990 725
239,990 206,533 (33,457)
Human Services
I Health
Humane Officer's salary 12,540 10,975 (1,565)
Office expense 1,200 1,131 (69)
I Animal Pound expense 1,200 1 ,427 227
14,940 13,533 (1,407)
Parks and Recreation
IIParks - landscaping 6,050 7,041
Contingencies 9,500
ITotal - General Fund $1 ,374,555. $1 ,305,
II - 18 -
IIMCALPIN CURTIS&ASSOCIATES,CERTIFIE
1
CITY OF OKEECHOBEE, FLORIDA
SCHEDULE OF FUND EXPENDITURES - BUDGET AND ACTUAL
1 Year Ended September 30, 1980
1 Over
(Under)
General Fund Budget Actual Budget
1 Other Financing Uses
Operating transfers -
1 Water and Sewer Fund $ 5,865 $ 5,863 $ (2)
Federal Revenue Sharing Fund
1 Operating Transfers
General Fund $103,715 $ 90,122 $(13,593)
1 Water and Sewer Fund 134,889 134,889 -0-
Total $238,604 $225,011 $(13,593)
1
Debt Service Fund
Principal retirement $ 15,000 $ 15,000
1 Interest 27,525 27,525
Fiscal agent's fee 500 500
1 Total $ 43,025 $ 43,025
1
1
1
1
i
i
1
1 - 19 -
1 MCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACC(IC.\TA\Th
CITY OF OKEECHOBEE, FLORIDA
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS
Year Ended September 30, 1980
11 Balance Balance
October 1, 1979 Additions Retirements September 30, 1980
Land and improvements $128,712 $379,152 $507,864
Buildings and improvements 97,758 35,990 133,748
Furnishings and equipment 120,677 5,175 125,852
Rolling stock 184,951 25,977 $16,695 194,233
Total $532,098 $446,294 $16,695 $961 ,697
I
I
1
I
1
I
I
I
I
11
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11
11
11 - 20 -
' MCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANTS
ICITY OF OKEECHOBEE, FLORIDA
ISCHEDULE OF CHANGES IN RESERVE ACCOUNTS
IWATER AND SEWER FUND
Year Ended September 30, 1980
I
Bond Reserve and
Retirement Fund
I Current Maximum Depreciation
Total Maturities Reserve Fund
IBalance - October 1 , 1979 $106,745 $26,603 $48,375 $31,767
Additions
I From Operating Fund:
Bond principal requirement 22,000 22,000
Bond interest requirement 26,790 26,790
I Interest earned on investment 6,643 4,042 2,601
Total Additions 55,433 48,790 4,042 2,601
I Deductions
Payments for:
Bond principal 22,000 22,000
I Bond interest 26,790 26,790
Transfer to Revenue Fund 6,772 129 4,042 2,601
Total Deductions 55,562 48,919 4,042 2,601
I .
Balance - September 30, 1980 $106,616 $26,474 $48,375 $31,767
I
I
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II
I
II
II
I - 21 -
IIMCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACC OUNTANTti
II
CITY OF OKEECHOBEE, FLORIDA
ISCHEDULE OF BOND PRINCIPAL AND INTEREST TO MATURITY
IGENERAL OBLIGATION BONDS
September 30, 1980
II
I Principal Interest Total
Principal and Interest Payments Due
For Year Ended September 30
1981 $ 15,000 $ 26,400 $ 41 ,400
I 1982 15,000 25,275 40,275
1983
15,000 24,150 39,150
1984 20,000 23,138 43,138
II 1985 20,000 21 ,788 41 ,788
1986 20,000 20,437 40,437
1987 20,000 19,087 39,087
II 1988 25,000 17,738 42,738
1989 25,000 16,050 41 ,050
1990 25,000 14,363 39,363
II 1991 25,000 12,675 37,675
1992 30,000 10,956 40,956
1993 30,000 8,894 38,894
II 1994 30,000 6,831 36,831
1995 35,000 4,769 39,769
1996 35,000 2,362 37,362
ITotal $385,000 $254,913 $639,913
IIBonds maturing 1982-1996 are redeemable at the option of the City on any interest
date by payment of a premium of 3 percent between 1982-86; 2 percent between 1986-91
II and 1 percent after July 1 , 1991. Interest is payable at 7.5 percent on bonds matur-
ing through 1982; at 6. 75 percent for bonds maturing 1983 through 1990; at 6.875 per-
cent for bonds maturing 1991 through 1995, and at 6.75 percent for bonds maturing in
II1996.
II
II
II
II
II
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' McALPIN CuRTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANTS
IIIIIIIIIIIIMMMIIIIIMIIIIMIIIIIIIIIIIIIIIMIIMIIIIIIIIIIIIIMIIMMIMIIIIIIII
CITY OF OKEECHOBEE, FLORIDA
' SCHEDULE OF BOND PRINCIPAL AND INTEREST TO MATURITY
1958 WATER AND SEWER REVENUE BONDS
September 30, 1980
Principal Interest Total
Principal and Interest Payments Due
For Year Ended September 30
r1981 $ 18,000 $ 6,975 $ 24,975
1982 18,000 6,165 24,165
1983 19,000 5,355 24,355
1984 20,000 4,500 24,500
1985 21,000 3,600 24,600
1986 22,000 2,655 24,655
1987 23,000 1,665 24,665
1988 14,000 630 14,630
Total $155,000 $31 ,545 $186,545
The bonds bear interest at the rate of 4-1/2 percent and are secured by the net
revenues of the Water and Sewer System and the utility taxes. The bonds are redeem-
able in whole or in part in inverse order of maturity on any interest date at par and
accrued interest plus a redemption premium of 4-1/2 percent.
I
I
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IIMCALPIN CURTIS&ASSOCIATES,CERTIFIED f'I HI.0 ArruuNr.lNiti
I
CITY OF OKEECHOBEE, FLORIDA
ISCHEDULE OF BOND PRINCIPAL AND INTEREST TO MATURITY
11 1972 WATER AND SEWER REVENUE BONDS
September 30, 1980
1
IIPrincipal Interest Total
Principal and Interest Payments Due
IIFor Year Ended September 30
1981 $ 5,000 $ 18,800 $ 23,800
II 1982 5,000 18,550 23,550
1983 6,000 18,300 24,300
1984 6,000 18,000 24,000
II 1985 6,000 17,700 23,700
1986 6,000 17,400 23,400
1987 7,000 17,100 24,100
II 1988 7,000 16,750 23,750
1989 7,000 16,400 23,400
1990 8,000 16,050 24,050
II 1991 8,000 15,650 23,650
1992 9,000 15,250 24,250
1993 9,000 14,800 23,800
II 1994 10,000 14,350 24,350
1995 10,000 13,850 23,850
1996 11,000 13,350 24,350
1 1997 11,000 12,800 23,800
1998 12,000 12,250 24,250
1999 12,000 11,650 23,650
II 2000 13,000 11,050 24,050
2001 13,000 10,400 23,400
2002 14,000 9,750 23,750
II2003 14,000 9,050 23,050
2004 15,000 8,350 23,350
II 2005 15,000 7,600 22,600
2006 16,000 6,850 22,850
2007 17,000 6,050 23,050
II 2008 18,000 5,200 23,200
2009 19,000 4,300 23,300
2010 21,000 3,350 24,350
II 2011 22,000 2,300 24,300
2012 24,000 1,200 25,200
IITotal $376,000 $384,450 $760,450
II The bonds bear interest at the rate of 5 percent and are secured by a pledge of the
net revenues of the Water and Sewer System and cigarette taxes. The bonds are sub-
ordinate to the outstanding 1958 Water and Sewer Revenue Bonds. The bonds are re-
' deemable in whole or in part in inverse order on any interest payment date at par and
accrued interest.
II
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IIMcAu'IN CURTIS&ASSOCIATES.CERTU'JEn ITRLN A(rnrNTAN N
I
CITY OF OKEECHOBEE, FLORIDA
ISCHEDULE OF INSURANCE COVERAGE
ISeptember 30, 1980
I
Description Coverage
IFire and Extended Coverage
City Hall (80 percent Co-Insurance - $100 deductible) 110,000
I Water Department buildings 82,000
Fire Station and buildings 91,300
I Comprehensive General Liability
Bodily injury 300,000
Property damage 50,000
I Medical payments 500/10,000
Personal injury liability 300,000
I Law Enforcement Liability
Bodily injury, personal injury, property damage
($250 deductible) 150/300,000
I First aid 5/25,000
Punitive damages 5/25,000
IWorkmen's Compensation and Employer's Liability Statutory Rates
Vehicular Equipment
II Bodily injury 100/300,000
Property damage 50,000
Uninsured motorist 35,000
I Collision ($100 deductible) ACV
Comprehensive ($50 deductible) ACV
IScheduled Property Floater ($100 deductible) ACV
Public Officials Bonds
I City Clerk 15,000
Other employees 15,000
I Police and Full-Time Firemen
Accidental death 20,000
I Volunteer Firemen
Accidental death 10,000
Medical payments 5,000
IIDisability - total 100
Disability partial 50
I
II
II
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' McAL'JN CURTIS&ASSOCIATES.el-RTIEII I)NMI It•AC(UUNTANTS
I
CITY OF OKEECHOBEE, FLORIDA
IISCHEDULE OF ASSESSED VALUES, TAX LEVIES
IAND RATES - LAST TEN YEARS
IReal Personal Homestead
Year Property Property Total Exemption
I1980 $51,225,720 $9,725,167 $60,950,887 $5,173,430
1979 34,756,690 8,787,664 43,544,354 5,034,700
t 1978 34,065,350 8,587,844 42,653,194 4,905,430
1977 28,053,703 6,872,990 34,926,693 4,702,690
1976 24,370,665 7,241 ,590 31 ,612,255 4,585,570
I 1975 23,630,191 5,987,420 29,617,611 4,479,230
1974 22,237,112 4,668,340 26,905,452 4,336,100
1973 21,760,494 3,153,530 24,914,024 3,680,710
' 1972 12,295,670 3,031,848 15,327,518 3,223,765
1971 11,119,065 2,299,576 13,418,641 3,030,375
I
IITax Levy and Applicable Rates
Levies Rates
I Debt General
Debt General Service Government
Year Service Government Mills Mills
II1980 $36,386 $335,209 .58 5.50
1979 40,248 179,780 .83 4.137
II
1978 41 ,852 168,054 .88 3.94
1977 43,989 157,519 1. 11 4.51
1976 35,090 145,732 1.11 4.61
II
1975 37,848 135,945 1.11 4.59
1974 51 ,542 123,475 1.65 4.59
1973 47,181 112,113 1.65 4.50
II1972 55,653 107,292 3.00 7.00
1971 49,347 80,511 3.00 6.00
II
I
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II
II
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•
II McALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
CITY OF OKEECHOBEE, FLORIDA
SCHEDULE OF REVENUES AND UTILITY CUSTOMERS
LAST TEN YEARS
Revenues - Other Than Property Taxes - General Fund (Note 1)
State
Revenue
Year Sharing Occupational Utility Fines and Franchise
(Note 2) (Note 3) Licenses Taxes Forfeitures Fee
1980 $243,055 $20,084 $100,857 $19,827 $110,587
1979 251,212 20,551 93,107 18,125 93,232
1978 243,923 17,974 92,458 18,317 87,758
1977 235,839 18,783 82,858 24,817 72,821
1976 243,536 17,491 80,779 46,477 54,324
1975 237,607 15,725 68,100 42,202 103,703
1974 210,969 20,106 69,560 52,964 37,330
197? 188,309 4,758 32,953
1972 211,865 24,944 23,529 29,189
1971 159,956 10,220 33,315 23,663
Water and Sewer System Revenues _
Sewer
Service Water Delinquent
Charges Billings Charges Miscellaneous
1980 $79,453 $535,973 $ 9,580 $ 6,732
1979 66,844 494,849 9,280 5,557
1978 59,724 436,451 9,140 3,658
1977 59,506 413,666 10,220 2,838
1976 49,867 357,349 7,404 47,046
1975 33,034 249,405 6,514 3,266
1974 35,181 244,293 6,430 2,988
1973 24,658 168,080 3,412 1 ,139
1972 30,922 185,747 3,820 2,585
1971 23,659 133,019 367 1 ,762
Water Water Water Total
Meters in Meters Meters Non- Water Unmetered Sewer
Operation Cut Off Operative Meters Customers Connections
1980 2,849 272 1 3,122 450
1979 2,738 286 13 3,037 430
1978 2,612 236 19 2,867 428
1977 2,454 281 6 2,741 10 424
1976 2,394 268 1 2,663 29 423
1975 2.353 234 11 2,598 410
1974 2,228 267 1 2,496 392
1973 2,219 177 2,396 376
1972 1,854 159 2,013 370
1971 1,669 160 1,829 9 352
- 27 -
MCALFIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
fli
I
II
II
II
Fire
IIDepartment Anti-Recession
Permits Interest Payment Fund Miscellaneous
I $12.,995 $61 ,733 $ 1,671
10,856 76,173 2,035
II 7,401
8,349 54,990 $ 7,776 $25,863 7,076
49,860 35,000 51,084 16,662
9,065 43,099 15,000 3,737
II 8,530 31 ,801 15,000 6,456
10,694 20,912 13,750 4,653
6,185 9,691 12,500 4,908
I 6,496
6,240 13,331 11,000 2,355
8,330 1 ,945
Connection
II Interest Charges
on (In Aid of Hydrant Utility
Investments Construction) Rental Taxes
II $53,657 $15,650 $23,280
33,288 23,460 22,440
30,961 19,975 25,000
II 18,225 13,660 25,000
14,289 10,965 25,000
13,056 9,400 25,000
' 12,073 13,467 25,000
7,975 12,685 $44,878
12,639 19,135 52,415
I7,639 7,535 45,976
II
I Note 1 - Amounts for years prior to 1974 have been reclassified to
correspond with subsequent years.
I Note 2 - Amounts reported for 1974 and subsequent are for the twelve months
ended September 30. Amounts reported for 1973 are for the nine
months ended September 30. Amounts reported for 1972 and prior are
Ifor the twelve months ended December 31.
Note 3 - Includes additional two-cent cigarette tax.
II
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IIMCALPIN CURTIS 8 ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
I
I MCALPIN, CURTIS IRA`1 D1cA11'1N••1R,C l'A 111 ORANGE AVENUE
LYMANI B.CURTIS.C.P.:�-
& ASSOCIATES L.LEP,TI COMAS.C.P A P.O. BOX 3346
GERALD A.DiBARTOLONIEO.,IR.,C.P.A. FORT PIERCE.FLORIDA 33450
IROBERT W.SUMMERILAYS.JR..C.P.A.
CERTIFIED PUBLIC ACCOUNTANTS ROBERT R.LYONS.C.P.A (305)461-6120
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1 Honorable Mayor and Members
of City Council
ICity of Okeechobee, Florida
IThis report is to present the results of our final audit of City of
Okeechobee, as required by the U. S. Department of Commerce, Economic
I Development Administration (EDA) , Office of Public Works for LPW Grant
No. 04-51-20988. This grant provides financial assistance for con-
struction of a water transmission main to the City distribution system.
II The grant provides for reimbursement of costs incurred in an estimated
amount not to exceed $418,000.
II The objectives of our examination were to (i) review, test and report
upon the costs incurred under the grant, and (ii) review, test and
report on compliance with grant terms, conditions and EDA requirements.
I Accordingly, we have performed an examination of the costs incurred by
the grantee and reviewed its method of complying with the LPW grant re-
quirements for the period from September 12, 1977 through December 3,
1 1979. Our work did not constitute an audit of financial statements
prepared by the organization, other than the Statement of Project Costs
Claimed from September 12, 1977 through December 3, 1979 (Exhibit A)
Iand the Status of Grant Fund Payments as of December 3, 1979 (Exhibit B).
Details concerning the scope of audits, the results of audit and the dis-
cussion of audit results with grantee officials for each of the areas
described below, are presented in the referenced attachments.
I Financial Activities - - Attachment 1
Accountants' Report
Exhibit A - - Statement of Project Costs Claimed from
I September 12, 1977 through December 3,
1979, and Comparison of Accepted Project
Costs with Estimated Project Costs
I Exhibit B - - Statement of Status of Grant Fund Pay-
ments at December 3, 1979
I Compliance with Grant Terms and Conditions and Other EDA LPW
Requirements - - Attachment 2
II The report is intended for use in connection with the grant to which
it refers and should not be used for any other purpose.
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Honorable Mayor and Members
of City Council
City of Okeechobee, Florida
Page Two
' In accordance with the "Audit Instructions for Local Public Works
Grants Under Title I of the Public Works Employment Acts of 1976 and
1977" and Revision No. 2 thereto, we have sent seven (7) copies of this
report and attachments to the Department of Commerce, Regional Audit
Manager.
' McAlpin, Curtis & Associates
Certified Public Accountants
' December 20, 1979
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McALPIN, CURTIS IRA NI.`I II.C IR IS, V A. 111 ORANGE AVENUE
LYMAh n.CURTIS,CV A. P.O. BOX 3346
L LEE TI IOMAS,C.P.A
& ASSOCIATES GEK LD A.DtBARTOLOMSEO.JR,C.P A. FORT PIERCE,FLORIDA 33450
BERT W.SUMMERIIAYS,JR..C.P.A. (505)4f�1 6120
CERTIFIED PUBLIC ACCOUNTANTS ROBERT K.LYONS,C.P.A.
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IIATTACHMENT 1 .
II To the Mayor and Members
of City Council
City of Okeechobee, Florida
II
II We have examined the City of Okeechobee's Statements of Project Costs
Claimed and Status of Grant Fund Payments as of and for the period ended
December 3, 1979, and tested financial transactions, accounts, reports
II and related supporting documentation. Our examination was made in ac-
cordance with generally accepted auditing standards and the standards
for audit of financial transactions, accounts, and reports, as set forth
II in the auditing standards for governmental activities published by the
Comptroller General of the United States, and accordingly, included such
tests of the accounting records and such other auditing procedures as we
II considered necessary in the circumstances, including those set forth in
the Department of Commerce's Audit Instructions for Local Public Works
Grants Under Title I of the Public Works Employment Acts of 1976 and 1977
IIand Revision No. 2 thereto.
The aforementioned statements of project costs set forth $264 of auditor
I questioned costs. The final determination as to whether such costs are
allowable under the terms of the grant agreement will be made by EDA.
I In our opinion, subject to the ultimate disposition of questioned
costs, the accompanying statements of grant costs present fairly the
budgeted costs, costs claimed, costs questioned and the status of
I grant funds for Grant No. 04-51-20988 at December 3, 1979, in confor-
mity with generally accepted accounting principles, the Department of
Commerce's audit instructions referred to above and the specific finan-
Icial terms of the grant agreement.•
--ter , Cu4Z' N -
McAlpin Curtis & Associates
1 Certified Public Accountants
December 20, 1979
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' EXHIBIT A
' CITY OF OKEECHOBEE
LOCAL PUBLIC WORKS PROJECT NO. 04-51-20988
' STATEMENT OF PROJECT COSTS CLAIMED FROM SEPTEMBER 12, 1977
' THROUGH DECEMBER 3, 1979, AND COMPARISON OF ACCEPTED
PROJECT COSTS WITH ESTIMATED PROJECT COSTS
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' Cost
Claimed Audit Recommendations Cost
Per ED Questioned Accepted Estimates Overrun Reference
Cost Classification 113-A Costs _ Costs Per Grant (Underrun) Notes
Architectural engi-
neering basic fees $ 8,274 $ -0- $ 8,274 $ 14,600 $ (6,326)
Project inspection fees 1,000 -0- 1,000 25,500 (24,500)
Construction and project
improvement cost 408,730 264 408,466 640,600 (232,134) Note 1
Totals For Project $418,004 $ 264 $417,740 $680,700 ,$.(262,960) Note 2
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• McALPIN,CLTRTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANTS
' EXHIBIT B
CITY OF OKEECHOBEE
LOCAL PUBLIC WORKS PROJECT NO. 04-51-20988
' STATEMENT OF STATUS OF GRANT FUND PAYMENTS
At December 3, 1979
' Total Authorized Costs Per Grant Budget $418,000
I Project Costs (Per EDA-113A) $418,004
Less: Questioned Costs 264
1 Total Acceptable Project Costs $417,740
' Amount of LPW Grant Payable -
100% of above acceptable costs
or $418,000, whichever is smaller $417,740
Less: Payments Made
Authorized by Grant No. 04-51-20988 $418,000
Less: Payment vouchers processed
by Okeechobee County Bank 402,356 402,356
' Available Balance - Letter of Credit $ 15,644
Balance Due From EDA - December 3, 1979 $ 15,384
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McALPIN,CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANT
ATTACHMENT 2
CITY OF OKEECHOBEE
LOCAL PUBLIC WORKS PROJECT NO. 04-51-20988
' COMPLIANCE WITH GRANT TERMS AND CONDITIONS AND EDA LPW REQUIREMENTS
In connection with our examination of the financial statements as reported
in Attachment 1, we have reviewed the terms and conditions of the grant and
EDA/LPW instructions and have performed tests of City of Okeechobee opera-
tions and records applicable to the compliance requirements set forth in
Parts II A and B of the audit program in the Department of Commerce Audit
Instructions for Local Public Works Grants Under Title I of the Public
Works Employment Acts of 1976 and 1977 and Revision No. 2 thereto.
' In our opinion, for the items tested, the grantee complied in all material
respects with the applicable compliance matters contained in Part II A of
' the audit program referred to above, except for those related to the ques-
tioned costs on Exhibit A. Further, based upon procedures performed in
accordance with Part II B nothing came to our attention to indicate that
the grantee had not complied in all material respects with all applicable
items listed in Part II B of the audit program referred to above.
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McALPIN,CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANT
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CITY OF OKEECHOBEE
LOCAL PUBLIC WORKS PROJECT NO. 04-51-20988
NOTES TO FINANCIAL STATEMENTS
December 3, 1979
A. Financial Statement Presentation and Summary of Significant Accounting Policies:
1 1. The financial statements presented are prepared from only the accounts
and financial transactions of the Local Public Works Project No. 04-51-20988
of the City of Okeechobee. Accordingly, they do not present the financial
' position or the results of operations of the City of Okeechobee.
2. The financial transactions of the project are recorded in accordance with
' the terms and conditions of the grant, which are not inconsistent with
generally accepted accounting principles.
1 3. Expenditures are recorded on the accrual basis of accounting.
B. The total budget as approved on Form ED-508 LPW for Grant No. 04-51-20988 is
$680,700. However, the approved grant amount was $418,000.
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' McAL•
PIN.CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOUNTANTS
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CITY OF OKEECHOBEE
IILOCAL PUBLIC WORKS PROJECT NO. 04-51-20988
IIREFERENCE NOTES
II December 3, 1979
II1. Questioned Costs
11 The questioned costs result from the grantee falling short on the MBE require-
ment computed as follows:
II Total project costs claimed per EDA 113-A)
as paid to MBE's $41,814.00
Less MBE cost questioned 40.40
II MBE costs accepted 41,773.60
MBE requirement (10% $418,000) 41,800.00
IIDeficiency in meeting MBE requirement $ 26.40
Project cost claimed as paid to the MBE is as follows:
IIFIS No. Purchase Order Cost Claimed Cost
Firm Name And Location Number As Paid Questioned
' Arkansas Meter Repair P. 0. Box 806
and Supply Co. Cabot, AR 72023 16714 $41,814.00 $40.40
IMBE costs questioned of $40.40 apply to a subcontractor-supplier, Arkansas Meter
Repair and Supply Co. of Cabot, Arkansas. The MBE anticipated cost was based
II on an estimated quantity of 2070' of 24" Class 50 SBT ductile iron pipe cement
lined, at a set price per foot. Since actual quantity required and shipped to
the grantee was 2068' or 2' less than the original estimates, the total amount
II paid to the supplier fell short by $26.40 of the MBE requirement of $41,800.
Therefore, questioned costs are $264.00 ($26.40 : 10%).
II2. Cost Estimates Per Grant
Cost estimates per grant budget Form ED 508 LPW amounted to $680,700. However,
II the offer of grant was for an amount not to exceed $418,000. Consequently,
the underrun represents the difference between actual accepted costs and the
grant budget.
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IMcALPIN,CURTIS&ASSOCIATES,CEI<TIFIED Mil IC ACCOUNTANT: