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Audit Report 09.30.1981 CITY OF OKEECHOBEE, FLORIDA FINANCIAL STATEMENTS September 30, 1981 McALPIN, CURTIS & ASSOCIATES CERTIFIED PUBLIC ACCOUNTANTS CITY OF OKEECHOBEE, FLORIDA ' CITY OFFICIALS September 30, 1981 ' MAYOR - COUNCIL Mayor and President of Council Edward W. Douglas Councilman Oakland Chapman Councilman Donald L. Burk Councilman Dowling Watford ' Councilman J. H. Knight ' ADMINISTRATIVE Administrative Assistant Richard Fellows 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 3. M. Westbrook I McALPIN.CUR I IS &ASSOCIATES. CHI ,tt)Put;;;r A(c A'.t CITY OF OKEECHOBEE, FLORIDA IFINANCIAL STATEMENTS ISeptember 30, 1981 IITABLE OF CONTENTS Page IIAccountants' Report 1 Financial Section ICombined 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 ICombined Statement of Revenues, Expenses and Changes in Retained Earnings/Fund Balances - All Proprietary Fund ITypes and Similar Trust Funds 6 Combined Statement of Changes in Financial Position - ' All Proprietary Fund Types and Similar Trust Funds 7 II Notes to Financial Statements 8 Other Financial Information II Accountants' Report On Other Financial Information 13 Statement to Bondholders 14 I Combining Balance Sheet - All Fiduciary Fund Types 15 Combining Statement of Revenues, Expenses and Changes in Fund Balances - All Fiduciary Fund Types 16 I Combining Statement of Changes in Financial Position - All Fiduciary Fund Types 17 Schedule of General Fund Revenues - Budget and Actual 18 I Schedule of Fund Revenues - Budget and Actual 19 Federal Revenue Sharing Fund Debt Service Fund II Schedule of General Fund Expenditures - Budget and Actual. 20 Schedule of Fund Expenditures - Budget and Actual 22 Federal Revenue Sharing Fund Debt Service Fund IISchedule of Changes in Reserve Accounts - Water and Sewer Fund 23 Statistical Tables ISchedule of Insurance Coverage 24 I Schedule of Assessed Values, Tax Levies and Rates - Last Ten Years 25 Schedule of Revenues and Utility Customers - ILast Ten Years 26 MCALPIN,CUR FIS &ASSOCIATES. CrhrIFl[0PORI I( Acc(,u\I.-\ Is I McALPIN, CURTIS 111 ORANGE AVENUE IRA M McALPIN.JR.C.P A. &ASSOCIATES L.LEE THOMAS.C P A. P.O.BOX 3346 GERALD A DiBARTOLOMEO.JR..C P A FORT PIERCE,FLORIDA 33454 ROBERT R.LYONS.C.P.A. CERTIFIED PUBLIC ACCOUNTANTS (305)461-6120 I i Honorable Mayor and City Council City of Okeechobee Okeechobee, Florida r We have examined the combined financial statements of the City of Okeechobee at September 30, 1981 and for the year then ended as listed in the financial section of the foregoing Table of Contents (pages 2-12 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. 11 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, 1981 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, /Curtis & Associates ' Certified Public Accountants January 26, 1982 1 ' - 1 - II CITY OF OKEECHOBEE, FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS September 30, 1981 Governmental Fund Types Federal Revenue Debt ASSETS General Sharing Service Cash $106,213 $14,171 $ 31,565 Certificates of deposit 400,000 102,133 Receivables (net of allowances for uncollectibles) : Accounts 13,523 Accrued interest 3,449 Due from other funds Inventory 12,837 Restricted assets: Cash Certificates of deposit Land and improvements Building 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 $536,022 $14,171 $133,698 See Notes to Financial Statements - 2 - McALPIN Ct-'.US a AssoctA,sfs.CER11414U vuwc ncco■_tirn.z; I I I I I Proprietary Fiduciary Fund Types Fund Types Account Groups Totals Water General General (Memorandum Only) I and Pension Fixed Long-Term September 30, Sewer Funds Assets Debt 1981 1980 I $ 148,692 $ 16,076 $ 316,717 $ 389,689 425 ,019 360,884 1,288,036 1,191,773 1 50,636 64,159 46,814 9,894 13,343 10,377 1 105 322 427 14,565 12,837 2 ,733 I 26,477 26,477 80,167 27 ,654 80,167 80,167 $507 ,864 507 ,864 507 ,864 1 133,748 133,748 134,610 133,748 134,610 125 ,852 217 ,970 217 ,970 194,233 1 4,127,219 4,127,219 (935,436) 3,916,156 (935,436) (831,871) $131,686 131,686 125,153 I238,314 238,314 259,847 IX3,932,773 $377,282 $994,192 $370,000 $6 ,358,138 $6,194,754 1 I I I I I I IMCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANTS CITY OF OKEECHOBEE, FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS September 30, 1981 Governmental Fund Types Federal Revenue Debt LIABILITIES AND FUND EQUITY General Sharing Service Liabilities Accounts payable $ 19,582 Accrued payroll 7,447 Contracts payable Water deposits Payable from restricted assets: Matured interest coupons Due to other funds 427 Due to terminated employees Deferred revenues 18,569 Matured bonds and interest coupons $ 2 ,012 Revenue bonds payable General obligation bonds payable Total Liabilities 46 ,025 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 131,686 Undesignated 489,997 $14,171 Total Fund Equity 489,997 14,171 131,686 TOTAL LIABILITIES AND FUND EQUITY $536,022 $14,171 5133,698 See Notes to Financial Statements - 3 - MCALPIN CURTIS&ASSOCIATES.CERTIFIED PUBLIC ACCOUNTANTS .op I I I 1 I Proprietary Fiduciary Fund Types Fund Types Account Groups Totals Water General General (Memorandum Only) I and Pension Fixed Long-Term September 30, Sewer Funds Assets Debt 1981 1980 II $ 22,769 $ 42,351 $ 62,976 4,322 11,769 1 42 ,494 80,868 42 ,494 42,494 80,868 77 ,425 II 293 293 1,080 427 14,565 $ 639 639 I 18,569 9,895 2,012 2 ,012 508,000 508,000 531,000 I $370,000 370,000 385,000 658,746 639 370,000 1,077 ,422 1,126,447 II994,192 994,192 961,697 2,030,246 2 ,030,246 1,958,521 II II74,584 74,584 74,849 31,767 31,767 31,767 1,137 ,430 1,137 ,430 1,096,741 II 376,643 376,643 283,875 II 131,686 125,153 II 504,168 535 ,704 3,274,027 376,643 994,192 5,280,716 5,068,307 IIS3,932 ,773 $377,282 $994,192 X370,000 16,358 138 S6194,754_ II II I IIMCAT PIN CURTIS&ASSOCIATES,CFRIVMD PC BI.IC AC COIRNT SLATS CITY OF OKEECHOBEE, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES Year Ended September 30, 1981 Federal Revenue Debt General Sharing Service Revenues Taxes $ 580,105 $ 36,180 Licenses and permits 39,616 Intergovernmental revenues 284,316 $ 88,878 Charges for services 73,118 Fines and forfeitures 14,263 Miscellaneous 73,097 796 12,254 Total Revenues 1,064,515 89,674 48,434 Expenditures General government 392,460 Public safety 498,301 Physical environment 73,726 Transportation 195,686 Human services 16,993 Parks and recreation 8,559 Debt Service: Principal retirement 15,000 Interest and fiscal charges 26,900 Total Expenditures 1,185,725 41,900 Excess (Deficiency) of Revenues Over Expenditures (121,210) 89,674 6,534 Other Financing Sources and (Uses) Operating transfers - in 91,830 Operating transfers - out (91,830) Total Other Financing Sources and (Uses) 91,830 (91,830) Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses (29,380) (2,156) 6,534 Fund Balance - October 1, 1980 519,377 16,327 125 ,152 Fund Balance - September 30, 1981 $ 489,997 $ 14,171 _$131,686 See Notes to Financial Statements - 4 - MCALP1N Ct'RT1s&As octAiES.c£•.TIRED F'uBuc•C(.Ol \r, I I I ITotals I (Memorandum Only) September 30, 1981 1980 I $ 616,285 $ 430,487 39,616 34,492 I 373,194 337 ,529 73,118 6,189 14,263 19,827 I 86,147 79,823 1,202 ,623 908,347 I392,460 640,021 498,301 423,266 73,726 15,213 195,686 206,533 16,993 13,533 ' 8,559 7 ,041 15,000 15,000 I 26,900 28,025 1,227 ,625 1,348,632 1 (25,002) (440,285) I91,830 90,122 (91,830) (230,874) I -0-- (140,752) I (25,002) (581,037) I660,856 1,241,894 I635 ,854 $ 660,857 1 _ I MCALPIN CURTIS&ASSOCIATES,CERTIFIED PUBLIC ACCOIiNTAN TS 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, 1981 General Fund Over (Under) Budget Actual Budget Revenues Taxes $ 543,230 $ 580,105 $ 36,875 Licenses and permits 29,450 39,616 10,166 Intergovernmental revenues 260,750 284,316 23,566 Charges for services 79,025 73,118 (5,907) Fines and forfeitures 21,201 14,263 (6,938) Miscellaneous 48,235 73,097 24,862 Total Revenues 981,891 1,064,515 82,624 Expenditures General government 336,853 392,460 55,607 Public safety 504,487 498,301 (6,186) Physical environment 108,759 73,726 (35,033) Transportation 190,290 195,686 5,396 Human services 17,595 16,993 (602) Parks and recreation 9,500 8,559 (941) Contingencies 6,334 (6,334) Total Expenditures 1,173,818 1,185,725 11,907 Excess (Deficiency) of Revenues Over Expenditures (191,927) (121,210) 70,717 Other Financing Sources and (Uses) Operating transfers - in 60,816 91,830 31,014 Operating transfers - out Total Other Financing Sources and (Uses) 60,816 91,830 31,014 Excess (Deficiency) of Revenues and Other Sources Over Expen- ditures and Other Uses (131,111) (29,380) 101,731 Fund Balance - October 1, 1980 519,377 519,377 -0- Fund Balance - September 30, 1981 $ 388,266 $ 489,997 $101,731._ See Notes to Financial Statements - 5 - Mc AI PIN CuRTIS&AssocInTES,CERUF W i'tauc ACCOUt tA∎TS I I I I iFederal Revenue Sharing Fund Totals I Over (Memorandum Only) Over (Under) (Under) Budget Actual Budget Budget Actual Budget I $ 543,230 $ 580,105 $ 36,875 29,450 39,616' 10,166 $ 44,575 $ 88,878 $ 44,303 305,325 373,194 67,869 I79,025 73,118 (5 ,907) 21,201 14,263 (6,938) 796 . 796 48,235 73,893 25,658 1 44,575 89,674 45,099 1,026,466 1,154,189 127,723 I 336,853 392,460 55 ,607 504,487 498,301 (6,186) 108,759 73,726 (35,033) I190,290 195,686 5,396 17,595 16,993 (602) I 9,500 8,559 (941) 6,334 (6,334) 1,173,818 1,185,725 11,907 I44,575 89,674 45 ,099 (147 ,352) (31,536) 115,816 60,816 91,830 31,014 I (60,816) (91,830) (31,014) (60,816) (91,830) (31,014) (60,816) (91,830) (31,014) -0- -0- -0- I I (16,241) (2 ,156) 14,085 (147 ,352) (31,536) 115,816 16,327 16,327 -0- 535 ,704 535 ,704 -0- IS 86 $ 14,171 $ 14 085 $ 388,352 $504,168 $ 115816 I I I IN1CALPIN CURTIS&ASSOCIATES,CERTIFIED PLIIUC ACCOUNIA\TS ICITY OF OKEECHOBEE, FLORIDA COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IIN RETAINED EARNINGS/FUND BALANCES ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS IIYear Ended September 30, 1981 Proprietary Fiduciary II Fund Type Fund Type Totals Water and Pension (Memorandum Only) Operating Revenues Sewer Fund Funds 1981 1980 II Charges for services $ 664,691 $ 664,691 $ 629,006 Interest and dividends $ 33,428 33,428 22,731 Contributions 84,312 84,312 77,825 I Contributions transferred 13,927 Hydrant rental 27,000 27,000 23,280 Total Operating Revenues 691,691 117,740 809,431 766,769 1 Operating Expenses Salaries and wages 249,615 249,615 193,340 II Payroll taxes 17,034 17,034 13,769 Group insurance 9,855 1,399 11,254 10,996 Chemicals 90,990 90,990 89,325 I Materials and supplies Truck expense 36,204 36,204 57,773 14,912 Electricity 73,094 73,094 59,443 I General insurance 20,721 20,721 12,583 Repairs 77,317 77,317 33,496 Office expense 8,908 8,908 7,181 I Legal and audit 17,978 17,978 13,297 Engineering fees 9,463 9,463 5,411 Pension plan contribution 11,769 11 ,769 9,964 1 Contributions transferred 13,927 Telephone 1,874 1,874 1 ,530 Miscellaneous 6,487 6,487 5,145 I Depreciation 103,572 103,572 97,904 Refunds on termi- nations 20,445 20,445 8,149 II Interest 287 287 1, Benefits paid 1,256 1,256 Actuarial fees 1,585 1,585 1 ,650 I Total Operating Expenses 734,881 24,972 759,853 649,795 Operating Income (Loss) (43,190) 92,768 49,578 116,974 II Non-Operating Revenues (Expenses) Interest revenue 70,738 70,738 53,657 Refund of prior year's expense 32,004 32,004 II Miscellaneous 6,647 (2 6,647 2,935 Interest expense (25,775) (25,775) (26,790) Total Non-Operating Revenues II (Expenses) 83,614 _ 83,614 29,802 Income Before Operating II Transfers 40,424 92,768 133,192 146,776 Operating Transfers In 5,863 II Net Income 40,424 92,768 133,192 152,639 Retained Earnings/Fund Balance - October 1 , 1980 1,203,357 283,875 1 ,487,232 1,334,593 IRetained Earnings/Fund Balance - September 30, 1981 $1,243,781 $376,643 $_1620,424 $1_487__232 IISee Notes to Financial Statements - 6 - n'1cAI PIN.CUR HS &ASSOCIA ES. c,f;r:r Eijkh :( A((,h .IA1F', IICITY OF OKEECHOBEE, FLORIDA ICOMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION IALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS Year Ended September 30, 1981 IProprietary Fiduciary Fund Type Fund Type Totals I Water and Pension (Memorandum Only) Sources of Working Capital Sewer Fund Funds 1981 1980 Operations: I Net income $ 40,424 $ 92,768 $133,192 $152,639 Item not requiring working capital - depreciation 103,572 103,572 97,904 I Working Capital Provided By Operations 143,996 92,768 236,764 250,543 Contributed capital 71,725 71,725 307,246 I Increase (Decrease) in liabilities payable from restricted assets (788) (788) (68) Total Sources of Working Capital 214,933 92,768 307,701 557,721 IUses of Working Capital Additions to Utility Plant 211,585 211,585 329,925 I Increase (Decrease) in restricted assets (1,693) (1,693) (18) Payments on long-term debt 23,000 23,000 28,000 ITotal Uses of Working Capital 232,892 232,892 357,907 Net Increase (Decrease) in I Working Capital $(17,959) $ 92,768 $ 74,809 $199,814 emens oet Increase (Decrease) in Working Capital I Cash $(30,846) $(25,321) $(56,167) $ 69,206 Certificates of deposit (20) 118,263 118,243 217,330 I Due from other funds (13,975) (13,975) 14,297 Accrued wages payable (4,322) (4,322) Receivables 8,585 8,585 (74,460) I Accounts payable 12,032 12,032 (14,625) Due to other funds 54 13,801 13,855 (14,440) Employee payroll deductions 1,891 I Contracts payable 10,925 Current portion of long-term debt (6,000) Water deposits (3,442) _ (3,442) (4,310) INet Increase (Decrease) in Working Capital $(17,959) $ 92,768 $_74,809 $199,814 I I ISee Notes to Financial Statements I - 7 - IMcALPIN,CURTIS &ASSOCIATES. CF nr[L[,P-BLIC Accnu>i m 11 CITY OF OKEECHOBEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1981 Note 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 policies of the City of Okeechobee conform to these generally accepted accounting principles. Basis of Accounting Basis of Accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. ' All governmental funds are accounted for using the modified accrual basis of ac- counting. The revenues are recognized when they become measurable and available as net current assets. Uncollected ad valorem taxes are not recorded as revenues be- ' cause, although measurable, they are not available until collected. Accounts re- ceivable for refuse collection and interest on investments are recorded as revenues as earned. Expenditures are generally recognized, under the modified accrual basis, in the • accounting period in which the liability is incurred. Exceptions to the rule in- clude accumulated unpaid employee vacation and sick pay, and principal and interest on general long-term debt which is recognized when due. Proprietary Funds and Pension Trust Funds are accounted for on the accrual basis. Their revenues are recognized when earned and their expenses recognized when they are incurred. Unbilled water and sewer utility service receivables are not recorded at year end. Budgets The City enacts an annual budget, by ordinance, after conducting the required public hearings. The budget adopted is on a basis consistent with the accounting principles Ifollowed by the City. Budgets presented in the financial statements include amendments made to the original adopted budget. Investments ' Investments which consist of certificates of deposit and interest bearing savings accounts are stated at cost. Fixed Assets Fixed assets used in governmental type operations are accounted for in the General Fixed Assets Account Group. No depreciation has been provided on the general fixed assets. - 8 - ' McALPIN.CURTIS &ASSOCIATES. CI r Pv8 is Acrui\ Vs,1 II CITY OF OKEECHOBEE, FLORIDA INOTES TO FINANCIAL STATEMENTS (CONTINUED) II September 30, 1981 11 Note 1 - Significant Accounting Policies (Continued) Fixed Assets (Continued) IIFixed assets acquired by the Water and Sewer Fund are recorded at cost. Depreciation has been provided on a composite annual rate of 2-1/2 percent. II Inventory II The inventory consisting of motor fuels is valued at the lower of cost or market on the first-in, first-out basis. IIAccumulated Unpaid Vacation and Sick Pay Accumulated unpaid vacation and sick pay to which employees would be entitled upon I termination are not accrued on the financial statements. The amounts at September 30, 1981 are $6,609 for vacation and $13,809 for sick pay. IINote 2 - Changes in General Fixed Assets A summary of changes in General Fixed Assets follows: II Balance Balance October 1, 1980 Additions Retirements September 30, 1981 11 Land and improvements $507,864 $507,864 Buildings and improvements 133,748 133,748 Furnishings and equipment 125,852 $ 8,758 134,610 Rolling stock 194,233 28,330 $4,593 217,970 11 Total $961 ,697 $37,088 $4,593 $994,192 Note 3 - Changes in Long-Term Debt IIFollowing is a summary of bond transactions for the year ended September 30, 1981: General Obligation Revenue Total II Balance, October 1, 1980 $385,000 $531,000 $916,000 Bonds retired 15,000 23,000 38,000 IIBalance, September 30, 1981 $370,000 $508,000 $878,000 The bonds payable at September 30, 1981 are comprised of the following issues: IIGeneral Obligation Bonds: II $480,500 serial bonds due in annual installments of $15,000 to $35,000 through July 1, 1996. Interest ranges from 7.5 percent on bonds maturing in 1982 to II6.75 percent on bonds maturing in 1996. $370,12010 - 9 - IIMcALPIN,CURTIS &ASSOCIATES. C'r,^,Fn.nPCRUCArc:ni_NI A\T,, 1 CITY OF OKEECHOBEE, FLORIDA NI IINOTES TO FINANCIAL STATEMENTS (CONTINUED) IISeptember 30, 1981 INote 3 - Changes in Long-Term Debt (Continued) Revenues Bonds: II $350,000 1958 Water and Sewer serial bonds, due in annual installments of $14,000 to $23,000 through IIJuly 1, 1988, interest at 4.5 percent. $137,000 $400,000 1972 Water and Sewer serial bonds due in I annual installments of $5,000 to $24,000 through January 1, 2012, interest at 5 percent, 371,000 $508,000 The annual requirements to amortize all bonded debt outstanding at September 30, II 1981, including interest of $618,733 is as follows: Year Ending General 1958 1972 September 30 Obligation Revenue _ Revenue Total II 1982 $ 40,275 $ 24,165 $ 23,550 $ 87,990 1983 39,150 24,355 24,300 87,805 1984 43,138 24,500 24,000 91,638 II 1985 41,788 24,600 23,700 90,088 1986 40,437 24,655 23,400 88,492 1987 39,087 24,665 24,100 87,852 II 1988 42,738 14,630 23,750 81,118 1989 41,050 .23,400 64,450 1990 39,363 24,050 63,413 1991 37,675 23,650 61,325 1992 40,956 24,250 65,206 1993 38,894 23,800 62,694 il 1994 36,831 24,350 61,181 1995 39,769 23,850 63,619 1996 37,362 24,350 61,712 II 1997 23,800 23,800 1998 24,250 24,250 i999 23,650 23,650 II 2000 24,050 24,050 2001 23,400 23,400 2002 23,750 23,750 11 2003 23,050 23,050 2004 23,350 23,350 2005 22,600 22,600 II 2006 22,850 22,850 2007 23,050 23,050 2003 23,200 23,200 II 2009 23,300 23,300 2010 24,350 24,350 2011 24,300 24,300 II2012 25,200 25,200 IITotal $598,513 $161,570 $736,650 $1 ,496,733 - 10 - IIMcALPIN.CURTIS &ASSOCIATES. CF r:I'M LD PI■Fit iC A,'c'()n-,;\`r', 1 CITY OF OKEECHOBEE, FLORIDA IINOTES TO FINANCIAL STATEMENTS (CONTINUED) September 30, 1981 INote 3 - Changes in Long-Term Debt (Continued) There is $131,686 available in the Debt Service Fund to service the general obliga- Ition bonds. Note 4 - Contributed Capital IThe source and additions to contributed capital are as follows: I Balance Balance Source October 1, 1980 Additions September 30, 1981 U Connection fees $ 183,488 $24,525 $ 208,013 Developers 291,561 47,200 338,761 Federal grant 71,160 71,160 I Local Public Works Grant 417,740 417,740 Federal Revenue Sharing Funds 619,572 619,572 General Fund 100,000 100,000 I Okeechobee Beach Water Association 275,000 275,000 ITotal $1,958,521 $71,725 $2,030,246 Note 5 - Revenue Bond Reserve and Retirement Funds IThe 1958 and 1972 Water and Sewer Revenue Bond Ordinances require, among other things, deposits on a monthly basis, of amounts necessary to provide for semi-annual I interest and annual principal requirements. In addition, the 1958 Revenue Bond Ordinance requires 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 ISeptember 30, 1981, the amounts required and the amounts on deposit are as follows: 1958 Revenue 1972 Revenue IBonds Bonds Maximum reserve $24,975 $23,400 I Deposits for bond princi- pal and interest re- quirements 6,166 17,663 I Balance of construction funds required to be deposited in Sinking Fund 2,380 IReserve Balance - September 30, 1981 _$311141 $43,443 Cash Balance - September 30, 1981 $31,141 $43,44_3 INote 6 - Depreciation Fund IIThe 195S 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 I Council to pay for capital additions or unforeseen emergencies. At September 30, 1981 , the Fund was $6,767 in excess of requirements. - 11 IIMcALPIN CURTIS &ASSOCIATES. CF t,I it If/P(FSI is A, (u,i'N rA`1, 1 CITY OF OKEECHOBEE, FLORIDA ' NOTES TO FINANCIAL STATEMENTS (CONTINUED) ' September 30, 1981 ' 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 1981 was $27,432. The actuarially computed value of vested benefits for all plans ' as of January 1, 1981 was $49,784, the date of last valuation. Note 8 General Fund Expenditures ' General Fund expenditures exceed the total amended budgeted amounts by $11,907 for the year ended September 30, 1981. This was due to the costs involved in the litiga- tion described in Note 9. Note 9 - Civil Rights Action ' During the year the courts approved the final settlement of a civil rights class action brought against the City. The City was ordered to pay $78,727 constituting attorney fees and expenses to the plaintiffs counsel and to make certain improvements to the municipal services in the black and Hispanic neighborhoods. The cost of the improvements has been estimated at approximately $165,000 and is 35 percent completed ' at September 30, 1981. The attorney fees have been paid. Note 10 - Litigation 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. t 12 1 McALPIN.CURTIS &ASSOCIATES. Ct r;t IF!.r PUet a Ac Cc t t a�r ti ' McALPIN, CURTIS 111 ORANGE AVENUE IRA M McALPIN.JR..C.P.A &ASSOCIATES L.LEE THOMAS.C P.A P.O.BOX 3346 GERALD A.DsBARTOLOMEO.JR..C P A FORT PIERCE,FLORIDA 33454 CERTIFIED ROBERT R LYONS.C.P A.EDPUBLICACCOUNTANTS (305)461-6120 I I ' Honorable Mayor and City Council City of Okeechobee Okeechobee, Florida Our examination of the combined financial statements of the City of Okeechobee, Florida was made primarily for the purpose of formulating ' an opinion on the combined financial statements taken as a whole. The information presented on Pages 13 through 23 inclusive, although not considered necessary for a fair presentation of financial position, ' 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 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 ' a whole. ` C , e McAlpin Curtis & Associates ' Certified Public Accountants January 26, 1982 - 13 - I I McALPIN, CURTIS 111 ORANGE AVENUE IRA M McALPIN.JR.C-P A &ASSOCIATES L.LEE THOMAS,C P P.O.BOX 3346 GERALD A DrBARTOLOMEO,JR.,C P A FORT PIERCE,FLORIDA 33454 CERTIFIED PUBLIC ACCOUNTANTS ROBERT ft LYONS.C P (305)461-6120 I I Honorable Mayor and City Council City of Okeechobee Okeechobee, Florida II I We have examined the combined financial statements of the City of Okeechobee, Florida for the year ended September 30, 1981. Our exami- nation 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: 1 (1) Money in the Sinking Fund in excess of the amount of interest and principal coming due in the ensuing I twelve months may be invested in direct obligations or guaranteed securities of the United States of America. I (2) All or any part of the Depreciation Fund may be invested in direct obligations or guaranteed IIsecurities of the United States of America. The investments made from the Sinking Fund and Depreciation Fund during I 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 primarily toward obtaining knowledge of such noncompliance. II McAlpin, / urns & Associates Certified Public Accountants IJanuary 26, 1982 II II I - 14 - V' ' CITY OF OKEECHOBEE, FLORIDA COMBINING BALANCE SHEET ' ALL FIDUCIARY FUND TYPES Year Ended September 30, 1981 General Police Fire Employees Employees Employees Total Total ASSETS Pension Pension Pension 1981 1980 ' Cash $ 12,402 $ 698 $ 2,976 $ 16,076 $ 41,397 Certificates of deposit 158,564 129,952 72,368 360,884 242,621 Due from other funds 322 322 14,297 ' TOTAL ASSETS $171,288 $130,650 $75,344 $377,282 $298,315 ' LIABILITIES AND FUND EQUITY Liabilities Due to terminated employees $ 352 $ 201 $ 86 $ 639 $ 14,440 ' Fund Equity Fund balance 170,936 130,449 75,258 376,643 283,875 ' TOTAL LIABILITIES AND FUND EQUITY $171,288 $130,650 $75,344 $377,282 $298,315 1 1 1 ' - 15 McALPEN,CUR t IS &ASSOCIATES• CE iTu 1ES,Pu(it II CITY OF OKEECHOBEE, FLORIDA IICOMBINING STATEMENT OF REVENUES, EXPENSES IIAND CHANGES IN FUND BALANCES ALL FIDUCIARY FUND TYPES IIYear Ended September. 30, 1981 II General Police Fire Employees Employees Employees Total Total Pension Pension Pension 1981 1980 Operating Revenues Municipal contributions $ 23,615 $ 3,224 $ 593 $ 27,432 $ 22,986 I Employee contributions 22,498 8,935 4,758 36,191 30,875 Contributions transferred 13,927 Interest 14,809 11,965 6,654 33,428 22,731 II State contributions 15,287 5,402 20,689 23,964 Total Operating Revenues 60,922 39,411 17,407 117,740 114,483 II Operating Expenses Actuarial fee 601 501 483 1,585 1,650 II Group insurance 859 10,322 430 10, 110 1,399 2,787 Refunds on termination 322 219 191 20,732 8,149 Contributions transferred 13,927 Benefit payments 1,256 1,256 IITotal Operating Expenses 13,038 11,150 784 24,972 26,513 Net Income 47,884 28,261 16,623 92,768 87,970 II Fund Balance - October 1, 1980 123,052 102,188 58,635 283,875 195,905 II Fund Balance - September 30, 1981 $170,936 $130,449 $75,258 $376,643 $283,875 II II II II II II I II - 16 - McALPIN,CURTIS &ASSOCIATES. CFR TIFit r,PUFit IC ACUOUN1 J\TS 11 CITY OF OKEECHOBEE, FLORIDA COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION ALL FIDUCIARY FUND TYPES Year Ended September 30, 1981 I General Police Fire Employees Employees Employees Total Total Pension Pension Pension 1981 1980 Sources of Working Capital Net income $ 47,884 $ 28,261 $16,623 $ 92,768 $87,970 Net Increase in Working Capital $ 47,884 $ 28,261 $16,623 $ 92,768 $87,970 Elements of Net Increase in Working Capital Cash $ (1,676) $(21,929) $(1,716) $(25,321) $ 5,507 Certificates of deposit 63,744 36,094 18,425 118,263 82,606 Due from other funds (13,975) (13,975) 14,297 Due to other funds 143 14,297 14,440 (14,440) Due to employees (352) (201) (86) (639) Net Increase in Working Capital $ 47,884 $ 28,261 $16,623 $ 92,768 $87,970 11 1 I I I I I 11 I - 17 - IIMcALPIN.CURTIS &ASSOCIATES. CF,Tlf r■R i C Accor.I AN IS II CITY OF OKEECHOBEE, FLORIDA ISCHEDULE OF GENERAL FUND REVENUES - BUDGET AND ACTUAL IIYear Ended September 30, 1981 II Over (Under) I Budget Actual Budget Taxes Ad valorem taxes $335,230 $ 334,060 $(1,170) II Franchise fees 106,400 137 ,759 31,359 Utility service taxes 101,600 108,286 6,686 543,230 580,105 36,875 I Licenses and Permits Occupational licenses 16,500 18,507 2,007 Building permits 9,000 16,912 7,912 I Animal licenses 450 3 192 (258) Competency cards ,500 4,005 505 29,450 39,616 10,166 I Intergovernmental Revenues State shared revenue: Cigarette tax 65,000 81,312 16 ,312 I State revenue sharing 170,000 176,013 6,013 Mobile home licenses 1,500 1,179 (321) Homestead Exemption Trust Fund 6,000 8,726 2,726 I Alcoholic beverage licenses 1,250 1,455 205 Gasoline tax refund 1,000 1,589 589 Shared revenues from other I local units: Road and bridge 12 ,000 10,321 (1,679) County occupational licenses 4,000 3,721 (279) II 260,750 284,316 23,566 Charges for Services Fire protection service 7,200 7 ,200 II Sanitation fees 70,000 63,340 (6,660) Miscellaneous 1,825 2,578 753 79,025 73,118 (5,907) I Fines and Forfeitures Court fines 20,000 13,321 (6,679) Police education 750 491 (259) I Confiscated property 451 451 21,201 14,263 (6,938) Miscellaneous I Interest earnings 38,400 69,536 31,136 Other 8,835 560 (8,275) Sale of assets 251 251 I Rents and royalties 1,000 2 ,750 1,750 48,235 73,097 24,862 ITotal $981,891 1,064,515 $82 ,624 II I - 18 - IIMCALPIN,CURTIS &ASSOCIATES. CERIIFItnPUPLK Ai co rA`r) CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF FUND REVENUES - BUDGET AND ACTUAL Year Ended September 30, 1981 ' Over (Under) ' Federal Revenue Sharing Fund Budget Actual Budget Intergovernmental Revenue Federal revenue sharing proceeds $44,575 $88,878 $44,303 Miscellaneous ' Interest earnings 796 796 Total $44,575 $89,674 $45 ,099 ' Debt Service Fund Taxes ' Ad valorem taxes $36,434 $36,180 $ (254) Miscellaneous ' Interest earnings 5,415 12 ,254 6,839 Total $41,849 $48,434 $ 6,585 1 General Fund Other Financing Sources ' Operating transfers - in $60,816 $91,830 $31,014 1 1 ' - 19 - IIMcALPIN.CURTIS &ASSOCIATES. CERTIFIED PUBLIC ACCOU L\`TS ICITY OF OKEECHOBEE, FLORIDA SCHEDULE OF GENERAL FUND EXPENDITURES - BUDGET AND ACTUAL IIYear Ended September 30, 1981 Over (Under) I General Government Budget Actual Budget Legislative City Council salaries $ 11,040 $ 11,040 I Chairman salary 4,200 4,200 City Council expense 1,550 1,584 $ 34 Executive 16,790 16,824 34 I City Administrator's salary 22,000 22,000 City Administrator's secretary and office 15,000 14,019 (981) City Clerk's salary 12,500 12,500 I City Clerk's office expense 750 50,250 863 49,382 113 Financial and Administrative (868) I Deputy Clerks' salaries 29,770 27 ,548 (2 ,222) City Clerk's office - overtime 1,500 942 (558) Clerk's office expense 5,490 8,069 2,579 II Clerk's office equipment repair 3,800 2,345 (1,455) Audit fee 6,000 4,500 (1,500) Board of Adjustment fees 1,500 375 (1,125) II Legal Counsel 48,060 43,779 City Attorney's salary 12,000 12,000 (4,281) City Attorney's expense 270 (270) IAttorney special fees 9,413 9,413 Discrimination suit 14,646 84,745 70,099 II Comprehensive Planning and Zoning 36,329 106,158 69,829 Planning board fees 1,800 2,404 604 Contractual services 5,000 3,951 (1,049) II Maps and reproductions 1,500 1,050 (450) Office expense 250 (250) Other General Governmental Services I 7 ,405 (1,145) Telephone and telegraph 8,455 8,005 (450) City Hall operation and maintenance 12 ,000 8,741 (3,259) I New construction and additions 5,000 5,000 Department of Public Works - director and assistant salaries 5,615 5,784 169 I Department of Public Works - secretary salary 5,825 5,825 Department of Public Works - equipment I and office expense 4,650 3,758 (892) rmite control 75 (75) Communication expense 6,060 5,066 (994) I Donations 4,000 4,000 Utilities 3,500 2,941 (559) Health insurance 19,850 14,469 (5 ,381) I Disability insurance 2 ,550 3,295 745 General insurance 35,797 38,649 2 ,852 City Hall landscaping 500 174 (326) I Payroll taxes 36,820 37,443 623 Unemployment taxes 300 (300) City Clerk's retirement 4,740 4,740 I Pension plan payments 14,485 15,662 1,177 Municipal code 3,950 3,950 Condemnation proceedings 1,500 (1,500) II Other 1,202 1,410 208 176,874 168,912 (7 ,962) Total - General Government 336 ,853 392 ,460 55 ,607 I20 McALPIN,CURTIS &ASSOCIATES. CERTIRFD PUB!IC ACC OUN EAN 1ti ICITY OF OKEECHOBEE, FLORIDA I SCHEDTYLE OF GENERAL FUND EXPENDITURES - BUDGET AND ACTUAL (CONTINUED) Year Ended September 30, 1981 Over I (Under) Public Safety Budget Actual Budget Law Enforcement I Salaries $ 250,285 $ 237 ,359 $(12 ,926) Overtime 5,500 5,699 199 Incentive pay 8,040 7,106 (934) I Education 750 532 (218) Confiscated property 451 439 (12) Operating expense 32,000 38,802 6,802 II Crime lab 2,135 2,016 (119) Capital outlay 16,000 14,960 (1,040) Code enforcement 500 686 186 IIFire Control 315,661 307,599 (8,062) Salaries 99,125 100,699 1,574 II Overtime 2,500 3,925 1,425 Operating expense 26,091 33,419 7 ,328 Capital outlay 16,385 7 ,930 (8,455) I Hydrant demand charge 27,000 27,000 Protective Inspections 171,101 172,973 1,872 II Building official salary 14,165 14,165 Expense allowance 2,860 2 ,883 23 Office expense 500 681 181 1 Emergency and Disaster Relief Services 17,525 17,729 204 Civil Defense 200 (200) Total - Public Safety 504,487 498,301 (6,186) IIPhysical Environment Garbage/Solid Waste Control Services II Refuse collection 80,000 58,043 (21,957) Flood Control Drainage 28,759 15,683 (13,076) IITotal - Physical Environment 108,759 73,726 (35,033) Transportation Road and Street Facilities 11 Salaries 70,290 68,135 (2,155) Mechanic 10,200 10,013 (187) II Overtime 3,500 4,589 1,089 Operating expense 53,300 55,207 1,907 Capital outlay 1,000 940 (60) II Street lighting 52,000 56,802 4,802 190,290 195,686 5,396 II Human Services Health Humane Officer's salary 9,395 8,714 (681) I Office expense 2,000 2,220 220 Animal Pound expense 1,700 1,559 (141) Capital outlay 4,500 4,500 IParks and Recreation 17 ,595 16,993 (602) Parks - landscaping 9,500 8,559 (941) IIContingencies 6,334 (6,334) Total - General Fund $1,173,818 $1,185 725 $ 11,907 21 McALPIN.CURTIS &ASSOCIATES. CFRTIHFD PURI IC ACCOUNT.A`r, CITY OF OKEECHOBEE, FLORIDA ' SCHEDULE OF FUND EXPENDITURES - BUDGET AND ACTUAL ' Year Ended September 30, 1981 ' Over (Under) ' Budget Actual Budget Federal Revenue Sharing Fund Operating Transfers General Fund $60,816 $91,830 $31 ,014 Total $60,816 $91 ,830 $31,014 Debt Service Fund ' Principal retirement $15,000 $15,000 Interest 26,400 26 ,400 Fiscal agent's fee 500 500 Total $41,900 $41,900 1 - 22 - IMcALPIN.CURTIS &ASSOCIATES. CF R of IEl)P1 Ir ACCOUNT A\1 II CITY OF OKEECHOBEE, FLORIDA ISCHEDULE OF CHANGES IN RESERVE ACCOUNTS II WATER AND SEWER FUND Year Ended September 30, 1981 II rBond Reserve and Retirement Fund I Current Maximum Depreciation Total Maturities Reserve Fund 1 Balance - October 1, 1980 $106,616 $26,474 $48,375 $31,767 Additions I From Operating Fund: Bond principal requirement 23,000 23,000 Bond interest requirement 25,775 25,775 I Interest earned on investment 7,899 5,269 2 ,630 Total Additions 56,674 48,775 5 ,269 2,630 II Deductions Payments for: Bond principal 23,000 23,000 I Bond interest Transfer 5,775 25,775 sfer to Revenue Fund 8,164 265 5,269 2,630 Total Deductions 56,939 49,040 5,269 2,630 IIBalance - September 30, 1981 $106,351 $26,209 $48,375 $31,767 1 I II II II II II I II - 23 - IIIvicALPIN.CURTIS &ASSOCIATES. CuknFlrt)PUB!lcAc cow.r,\^.TS IICITY OF OKEECHOBEE, FLORIDA IISCHEDULE OF INSURANCE COVERAGE II September 30, 1981 II Description Coverage IIFire and Extended Coverage City Hall (80 percent Co-Insurance - $100 deductible) 110,000 II Water Department buildings 82,000 Fire Station and buildings 91,300 II Comprehensive General Liability Bodily injury 300,000 Property damage 50,000 II Medical payments 500/10,000 Personal injury liability 300,000 I Law Enforcement Liability Bodily injury, personal injury, property damage ($100 deductible) 500/1,000,000 IIWorkmen's Compensation and Employer's Liability Statutory Rates II Vehicular Equipment Bodily injury 100/300,000 Property damage 50,000 1 Uninsured motorist 35,000 Collision ($100 deductible) ACV Comprehensive ($50 deductible) ACV IIScheduled Property Floater ($100 deductible) ACV II Public Officials Bonds City Clerk 15,000 Other employees 15,000 IIPolice and Full-Time Firemen Accidental death 20,000 II Volunteer Firemen Accidental death 10,000 ' Medical payments 5,000 Disability - total 100 IIDisability - partial 50 II II I - 24 - IIMCALPIN.CURTIS &ASSOCIATES. CFR rIF tD PUBE IC ACCOU\rA\t 11 CITY OF OKEECHOBEE, FLORIDA IISCHEDULE OF ASSESSED VALUES, TAX LEVIES AND RATES - LAST TEN YEARS Real Personal Homestead Year Property Property Total Exemption 1981 $57 ,036,510 $10,475,123 $67,511,633 $14,061,980 1980 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 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 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 I Tax Levy and Applicable Rates Levies Rates Debt General Debt General Service Government Year Service Government Mills Mills 1981 $ 8,574 $286,924 .127 4.25 1980 36,386 335,209 .58 5.50 1 1979 40,248 179,780 .83 4.137 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 1975 37,848 135,945 1.11 4.59 1974 51,542 123,475 1.65 4.59 II 1973 47 ,181 112 ,113 1.65 4.50 1972 55,653 107,292 3.00 7.00 I I I I - 25 - IMcALPIN,CURTIS &ASSOCIATES. Ct Rt!F Ei)P::BLW Ac c or 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 1981 $257 ,325 $22,228 $108,286 $13,813 $137 ,759 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 1973 188,309 4,758 32 ,953 1972 211,865 24,944 23,529 29,189 Water and Sewer System Revenues Sewer Service Water Delinquent Charges Billings Charges Miscellaneous 1981 $82 ,359 $569,905 $12,228 $ 6,647 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 Water Water Water Total Meters in Meters Meters Non- Water Unmetered Sewer Operation Cut Off Operative Meters Customers Connections 1981 2 ,979 222 13 3,214 459 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 - 26 - MCALPIN CUPTIS&AssoctATES,CERTIE!ED PUBLIC ACCOUNTANTS wi II I II II Fire II Department Anti-Recession Permits Interest Payment Fund Miscellaneous $23,459 $69,536 $ 4,240 II12,995 61,733 1,671 10,856 76,173 2,035 II 7 ,401 54,990 $ 7 ,776 $25 ,863 7 ,076 8,349 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 II6 ,496 13,331 11,000 2,355 1 , Connection Charges II Interest on (In Aid of Hydrant Utility Investments Construction) Rental Taxes 4 $70,738 $24,525 $27 ,000 II 53,657 15,650 23,280 33,288 23,460 22 ,440 30,961 19,975 25 ,000 ' 18,225 13,660 25,000 14,289 10,965 25 ,000 13,056 9,400 25 ,000 II 12 ,073 13,467 25 ,000 7,975 12,685 $44,878 12,639 19,135 52,415 II II Note 1 - Amounts for years prior to 1974 have been reclassified to correspond IIwith subsequent years. 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 1 - for the twelve months ended December 31. Note 3 Includes additional two-cent cigarette tax. II t IIMCALPIN CURTIS&ASSOCIATES,CERTIFIED PI_BLIC ACCOUNTANTS