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Audit Report 09.30.1979 r;--- - ] CITY OF OKEECHOBEE, FLORIDA FINANCIAL STATEMENTS September 3D, 1979 McALPIN, CURTIS & As-sOcrATES, CERTIFIEIl PUBLIC AC('()U;I;T.\:\." - CITY OF OKEECHOBEE, FLORIDA CITY OFFICIALS September 30, 1979 MAYOR - COUNCIL Mayor and President of Council Councilman Councilman Councilman COulicilman Edward W. Douglas Oakland Chapman Donald L. Burk Lytle Raulerson J. H. Knight ADMINISTRATIVE City Clerk City Attorney Director of Public Works Chief of Police Chief of Fire Department Building Inspector Bonnie S. Thomas David Conlon L. C. Fortner, Jr. Larry Mobley Louis K. Tomey, II Richard B. Spray McALPIN, CURTIS & ASSOCIATES, CElmm-;n PUlll.lC ACCOU:-"TA:-.--rS -- CITY OF OKEECHOBEE, FLORIDA FINANCIAL STATEMENTS September 30, 1979 TABLE OF CONTENTS Page Accountants' Report Financial Section 1 Combined Balance Sheet - All Fund Types and Account Groups 2 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Fund Types 4 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General and Special Revenue Fund Types 5 Combined Statement of Revenues, Expenses and Changes in Retained Earnings/Fund Balances - All Proprietary Fund Types 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 Other Financial Information Accountants' Report On Other Financial Information Statement to Bondholders Schedule of General Fund Revenues - Budget and Actual Schedule of Fund Revenues - Budget and Actual Federal Revenue Sharing Fund Debt Service Fund Schedule of General Fund Expenditures - Budget and Actual Schedule of Other Financing Uses - Budget and Actual General Fund Federal Revenue Sharing Fund Debt Service Fund Schedule of Changes in General Fixed Assets Schedule of Changes in Reserve Accounts - Water and Sewer Fund Statistical Tables Schedule of Bond Principal and Interest to Maturity General Obligation Bonds 1958 Hater and Sewer Revenue Bonds 1972 Water and Sewer Revenue Bonds Schedule of Insurance Coverage Schedule of Assessed Values, Tax Levies and Rates - Last Ten Years Schedule of Revenues and Utility Customers - Last Ten Years 10 11 12 13 14 16 17 18 19 20 21 22 23 24 McALPIN. CURTIS & ASSOCIATES. CERTIFIEI> PUBLIC ACCOU:I.'TA:I.-n; r - CERTIFIED P1JI1LlC ACCOUXTA;liTS IRA ~1. ~kAl.I'I:'\, .JR.. C.P.A. LY~IAN II. CURTIS. c.r.A 1.. LEE TIl0~IAS. C.P.A GERALD A. DIIlARTOLOMEO. .JR.. C.PA ROBERT W. SU~IMERl1AYS. .JR.. c.r.A ROBERT R. L YO:'\S, C.P.A. 111 ORANGE AVENUE P.O. BOX 3346 FORT PIERCE, FLORIDA 33450 (305) 461-6120 MeAL PI X, CURTIS & ASSOCLA TES Honorable Mayor and City Council City of Okeechobee Okeechobee, Florida We have examined the financial statements of the various funds and account groups of the City of Okeechobee, Florida at September 30, 1979 and for the year then ended, as listed in the financial section of the foregoing Table of Contents (Pages 1 to 9, inclusive).' Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting rec- ords 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 Se\.;er 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 financial statements present fairly the financial position of the various funds and account groups of the City of Okeechobee, Florida at September 30, 1979 and the results of operations of such funds and the changes in financial position of the Water and Sewer Fund for the year then ended in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. 7;Ji!/~'~.y(}~ McApin, urtis & Associates Certified Public Accountants December 19, 1979 - 1 - r- CITY OF OKEECHOBEE, FLO~IDA co~rnINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS September 30, 1979 Governmental Fund Federal Revenue General Sharing Assets Cash Certificates of deposit Casn surrender value of insurance policies Receivables (net of allowances for uncollectibles): Accounts Accrued interest Due from other funds Ir.:-lentory RestLicted assets: Cash Certificates of deposit La~d and isprovements Buildings and improvements Furnishings and equipment Rolling stock Utility Plant in service Accloulated depreciation A~Ollilt available in Debt Service Funds A~ount to be provided for retirement of long-term debt $ 55,286 935 ,7 97 23,337 3,400 Total Assets $1.017 .820 See Notes to Financial Statements -. 2 - $ 19,124 132,670 3,000 $154.794 ----.... Types Debt Service $ 1,087 110,842 7,152 $119,081 Proprietary Fiduciary Account Groups Totals Fund Types !.ul1~_Types_ General General (Memorandum Only) t.;rater and Pension Fixed Long-Term September 30, S e\ole r Fund Assets Debt 1979 1978 ~--- -~--'--~ - $ 115,838 $ 35 ,890 $ 227,225 $ 388,302 290,295 160,015 1,629,619 1,531,279 15,884 118,717 118,717 41,729 7,687 41,176 477 125 125 135 3,400 1,912 27,672 27,672 26,910 80,167 80,167 80,167 $128,712 128,712 128,712 97,758 97 , 758 97,233 120 ,677 120,677 109,173 184,951 184,951 169,557 3,586,231 3,586,231 3,164,283 (733, 967) (733,967) (644,312 ) $117,069 117,069 111,104 -"---- 282,931 282,931 .303,896 $3.492.765 =$195,,-90~ $532 . 09~ .$400.000. ~2.463 ~26 ,441 " Governmental Fund Federal Revenue General Sharing r I CITY OF OKEECBOBEE, FLORIDA CONBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS September 30, 1979 Liabilities and Fund Equity Liabilities Accounts payable Employee payroll deductions Contracts payable Water det)osits Escrow deposits Payable from restricted assets: :Hat tired interest coupons Due to other funds Deferrei revenues Matured bonds and interest coupons Revenue bonds payable (Note 2) General obligation bonds payable (Note 3) Total Liabilities $ 32,946 4,299 10,544 l.7,789 Fund Equity Investments in General Fixed Assets Contributed capital (~ote 4) Retained earnings: Reserve for Revenue Bond Retirement (Note 5) Reserve for Depreciation Fund (Note 6) Unreserved Fund balances: Reserved for employees' retirement system Unreserved: Designated for Debt Service Undesignated Total Fund Equity 970,031 970,031 Total Liabilities -~-- and Fund Eq.ui ty $1. 017 .820 See Notes to Financial Statements _ ':l _ 154,794 154,794 $154.794 ~ I I Types I I I I I I I I I I Debt Service $ 2,012 2,012 117,069 117,069 $119 .081 Proprietary Fiduciary Fund Typ es Fnnd Types' Account Groups Totals ~.J"ater General General (Memorandum Only) and Pension Fixed Long-Term September 30, Se~ver Fund Assets Debt 1979 1978 $ 20,104 ('''' $ 5 3,050 $ 18,812 1,891 6,190 6,014 53,419 ,", 53,419 97,079 7 3,115 r:;... 73,115 69,883 11,270 1,148 ,'~) 1,148 90 1'" - , ~ 125 135 L:J 10,544 10,227 ., , 2,012 2,012 553,000 553,000 574,000 $400,000 400,000 415,000 702,802 400,000 1 , 152 , 603 1,204,522 $532,098 532,098 504,675 1,651,275 1,651,275 1,385,668 74,978 ..y 74, 978 75,095 31, 767 ,~ 31,767 31,767 1,031,943 " 1,031,943 944,102 ? $195,905 195,905 144,742 117,069 111,104 1,124,825 1,124,766 2,789,963 195,905 532,098 4,759,860 4,321,919 $3.492.765 $195.905 $532 .098 ~400.000 $ 5 ,..9.1~-,--4 6 3 lli.526.441 McALPIN Ct:RTlS & ASSOCIATES. CERlIflW PLOLle ACCOU'I1A"T5 ~ I Totals (Memorandum Only) September 30. I 1979 1978 $ 397,048 $ 377 ,071 !I 31.407 25,375 350,425 386.093 i 1,049 7,893 II 18.125 18.317 " 96.818 69,526 :. 894,872 884,275 209,294 201,421 403.259 363,700 12.460 12,150 163,970 113,462 11,924 10,77 9 15,000 15,000 29,400 30,075 845.307 746,587 49.565 137,688 84,481 (128,022) 27 t.J2 9_ (Lf3,541) (27,929) 6,024 109,759 1,235,870 1,126,111 ~241.894 $1.~2Q ') McALPIN CURTIS & ASSOClAlES. CERTlflfO I'lJ~L1C ACCOlJ"TANT' r- ..,... CITY OF OKEECHOBEE, FLORIDA --~ CO~mINED STATE~ffiNT OF REVE~UES, EXPEN~ITURES AND CHANGES IN FUND BALANCES - BUDGET fu'\D ACTUl\L GENERAL k'ID SPECIAL REVENUE FUND TYPES Year Ended September 30, 1979 General Fund Budget Actual Over (Under) Budget Revenues Taxes Licenses and permits Intergovernmental revenues Charge~ for serJices Fiaes and forfeitures Miscellaneous Total Revenues Expenditures General government Public safety Physical environment Transportation Human services Contingencies Total Expenditures $ 330,000 $349,173 $ 19,173 25,500 31,407 5 , 907 239,800 259,164 19,364 5,260 1,049 (4,211) 18,700 18,125 (575) 56,500 76,954 20,454 675,760 735,872 60,112 228,450 209,294 (19,156) 411 ,090 403,259 (7 ,831) 12,500 12,460 (40) 139,150 163,970 24,820 11,640 11,924 284 25,000 (25,000) 827,830 800,907 (26,923) -- (152,070) (65,035) 87,035 84,481 84,481 (10,260) (10,260) 74,221 74,221 Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources and (Uses) Operating transfers - in Operating transfers - out Total Other Financing Sources and (Uses) Excess (Deficiency) of Revenues and Other Sources Over Expen- ditures and Other Uses (152,070) 9,186 161,256 Fund Balance - October 1, 1978 960,845 960,845 -0- Fund Balance - September 30, 1979 -.U.08.77 5 $970 .031 $161.256 I See Notes to Financial Statements - '\ - - Special Revenue Fund Totals Over (Memorandum Only) Over (Under) (Under) Budget Actual Budget Budget Actual Budget $ 330,000 $ 349,173 $ 19,173 25,500 31,407 5 ,907 $ 94,740 $ 99,213 $ 4,473 334,540 358,377 23,837 5,260 1,049 (4,211) 18,700 18,125 (575 ) 8,750 9,422 672 65,250 86,376 21,126 103,490 108,635 5 ,145 779,250 844,507 65,257 228,450 209,294 (19,156) 411,090 403,259 (7 ,831) 12,500 12,460 (40) 139,150 163,970 24,820 11,640 11,924 284 25,000 (25,000) 827,830 800, 907 (26,923) 103,490 108,635 5,145 (48,580) 43,600 92,180 84,481 84,481 (262,910) (117 ,762) (145,148) (262,910) (128,022) (134,888) (262,910) (117,762) (145,148) (262,910) (43,541) (219,369) (159,420) ( 9 , 12 7) 150,293 (311 ,490) 59 311,549 163,921 163,921 -0- 1,124,766 1,124,766 -0- ~ 4.501 ~4.794 $ 150.293 $ 813.276 $1.124.825 $ 311.549 McALPIN CURTIS & AS~OClATES, CERTIFIED PUBLIC ACCOUNTANTS - CITY OF OKEECHOBEE, FLORIDA , co~rnINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS/FUND BALANCES ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST. FUNDS Year Ended September 30, 1979 , . Proprietary Fiduciary Fund Type Fund Type Water and Pension Totals Sewer Fund Fund (MemorandUlI! Only) $ 582,973 $ 582,973 $ 10,720 10,720 63,626 63,626 ----.J.] ,440 22,440 605,413 74,346 679,759 168,796 168,796 11,426 11,426 5,815 1,974 7,789 66,213 66,213 37,537 37,537 10,570 10,570 48,725 48,725 14,072 14,072 20,033 20,033 7,195 7,195 6,617 6,617 24,825 24,825 10,500 10,500 1,529 1,529 5,266 5,266 89,655 89,655 16,867 16,867 2,532 2,532 1,810 1,810 528,774 23,183 551,957 76,639 51,163 127,802 33,288 33,288 5,557 5,557 (27,760) (27,760) 11,085 11,085 87,724 51,163 138,887 1,050,964 144,742 1,195,706 $1.138.688 $195.905 $1.334.593 Operating Revenues Charges for services Interest and dividends Contributions Hydrant rental Total Operatir~JL~.evenues Operating Expens~~ Salaries and wages Payroll taxes Group insurance Chemicals Materials and supplies Truck expense Electricity General insurance Repairs Office expense Legal and audit Engineering fees Pension plan contribution Telephone Miscellaneous Depreciation Refunds on terminations Benefits paid on surrender of insurance policies Actuarial fees Total Operating Expenses Operating Income Non-Operating Revenues (Expenses) Interest revenue Miscellaneous Interest expense Total Non-Operating Revenues (Expenses) Net Income Retained Earnings/Fund Balance - October 1, 1978 Retained Earnings/Fund Balance - September 30, 1979 See Notes to Financial Statements - 6 - McALPIN. CURTIS & ASSOCIATES. CERTlflW I'UIlI.lC ACCOUl\'TAl\"T$ CITY OF OKEECHOBEE, FLORIDA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS Year Ended September 30, 1979 '"" Sources of Working Capital Operations: Net income Item not requiring working capital - depreciation Working Provided By Operations Contributed capital Increase in"liabilities payable from restricted assets Total Sources of Working Capital Uses of Working Capital Additions to utility plant Increase in restricted assets PaymeQts on long-term debt Payments on contract Total Uses of Working Capital Net Increase (Decrease) in Working Capital Elements of Net Increase (Decrease) in Working Capital Cash Certificates of deposit Cash surrender value of life insurance Receivables Accounts payable Employee payroll deductions Contracts payable Current portion of long-term debt Water deposits Escrow deposits Net Increase (Decrease) in vlorking Capital See Notes to Financial Statements Proprietary Fund Type Water and Sewer Fund $ 87,724 89,655 177,379 265,607 1,058 444,044 496,948 762 34,300 H,097 546,107 lllQ2 .063) $ (76,997) (49,694) 9,198 (8,805) (66) 29,563 (13,300) (3 , 2 32 ) 11,270 $ (102 .063) - 7 - Fiduciary Fund Type Pension Fund $ 51,163 51,163 51,163 .L51.l63 $(13,359) 80,406 (15,884) ..Lll.163 - Totals (Memorandum Only) $138,887 89,655 228,542 265,607 1,058 495,207 496,948 762 34,300 14,097 546,107 ~ (50 . 900) $(90,356) 30 .712 (15,884) 9,198 (8,805) (66) 29,563 (13,300) (3,232) 11,270 $ (50.900) McALPIN, CURTIS & A5.."-OCIATES, CERTIFlW PUBLIC ACCOU/,TA:-'~ - CITY OF OKEECHOBEE, FLORIDA NOTES TO FINANCIAL STATEMENTS September 30, 1979 Note 1 - Significant Accounting Policies Generally accepted accounting principles applicable to local governmental units 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 &o~form to these generally accepted accounting principles. . 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 expenditures are recognized in the accounting period in which the liability in in- curred. Proprietary and fiduciary funds follow the accrual basis of accounting. Investments - Investments in certificates of deposit are stated at cost. General 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 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. Note 2 - Revenue Bonds Pavable J The 1958 Water and Sewer Revenue Bonds are secured by a pledge of net revenues of the 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. 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 5 percent and are due in annual principal installments ranging from $5,000 to $24,000 with the final payment due in 2012. 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 at rates varying between 6.75 percent to 7.5 percent and are due in annual principal installments ranging from $15,000 to $35,000 with the final payment due in 1996. Note 4 - Contributed Capital The source and additions to contributed capital are as follows: Source Balance Balance October I, 1978 Additions September 30, 1979 .$ 144,378 $ 23,460 $ 167,838 43,510 106,728 150,238 71,160 71,160 385,478 16,878 402,356 Funds 441,142 43,541 484,683 100,000 100,000 200,000 75,000 275,000 $1.385.668 $265.607 $1.651.275 Connection fees Developers Federal grant Local Public Harks Grant Federal Revenue Sharing General Fund Okeechobee Beach Water As,sociation Total - 8 - McALPIN, CURTIS & ASSOCIATES, CERTIFIEO PUIILlC ACCOU1>n:-."TS - CITY OF OKEECHOBEE, FLORIDA NOTES TO FINANCIAL STATEMENTS (CONTINUED~ September 30, 1979 Note 5 - Revenue Bond Reserve and Retirement Funds The 1958 and 1972 Water and Sewer Revenue Bond Ordinances require, among other things, deposits on a monthly basis, 6f amo~~ts 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, 1979, the amounts required and the amounts on deposit are as follows: Cash Balance - September 30, 1979 1958 Revenue 1972 Revenue Bonds Bonds $24,975 $23,400 6 , 185 18,037 1,148 2,380 32 , 308 43,817 125 $32.433- $43.817 Maximum reserve Deposits for bond principal and interest requirements Matured interest coupons Balance of construction funds required to be deposited in Sinking Fund Reserve Balance - September 30, 1979 Due to Revenue Fund 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, 1979, 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 1979 was $10,200. The actuarial1y computed value of vested benefits for all plans has not been determined. The plan year for the pension funds ends December 31 and annual reports are issued on that basis. Note 8 - Contingency The City is presently involved in a class action suit that was filed in the Federal District Court seeking relief which would require the expenditure of substantial funds. The suit also seeks to order the City to place in an escrow account an amount of money equal to the Federal Revenue Sharing money previously received by the City. - 9- McALPIN. CURTIS & ASSOCIATES, CERTIFIEl) PUBLIC MTOUNTA:'-rs - CEIITIFIElJ P'"':BLlC ACCOL";\;TA.XTS II/A H ~kAl.l'l;I;. .11<. C.P.A. LY~IAN II. CUI/TIS. C.PA L LEE THOMAS. C.P.A. GEl/ALl) A. OillART()LO~IEo. ,IR.. C.PA IWIIERT W. SUMMERHAYS.,/K, C.P.A. HOBERT 1/. LYO:>\S. C.P.A. III ORANGE AVENUE P.O. BOX 3346 FORT PIERCE. FLORIDA 33450 (305) 461-6120 McALPIX, CURTIS & ASSOCL\ TES "t'., Honorable Mayor and City Council City of Okeechobee Okeechobee. Florida Our examination of the financial statements of the City of Okeechobee, Florida was made primarily for the purpose of formulating an opinion on the financial s~atements taken as a whole. The information presented on Pages 11 through 18 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 ac- counting principles, is presented for supplementary analysis purposes. This information has been subjected to the audit procedures applied in our examination of the financial statements and is, in our opinion, fairly stated in all material respects in relation to the basic financial statements taken as a whole. 7nv~,~cI-~ McAlpin, urtis & Associates Certified Public Accountants December 19, 1979 -10 - - McALPIX, CURTIS & ASSOCL\ TES CERTIFIED I>t:BLlC ACCOU:\IA.'\TS liB ~\. ~kAl.I'l~. .JR.. C.P.A L nlAN II. CURTIS. C.PA I.. LEE THOll<IAS. C.I'.A. GEl(Al.lJ A. J)iIIART()LO~lEO. ,IR.. C.P.A. l(OllERT W. SmIMEIWAYS. ,JR.. C.P.A l(UBERT K LYU~S. c.P.A. III ORANGE AVENUE P.O. BOX 3346 FORT PIERCE. FLORIDA 33450 (305) 461-6120 Honorable }fuyor and City C~~cil City of Okeechobee Okeechobee, Florida We have examined the financial statements of the various funds and account groups of the City of Okeechobee, Florida for the year ended September 30, 1979. Our examination was made in accordance with gen- erally accepted auditing standards and accordingly included such tests of the ~ccounting records and such other auditing procedures as we con- sidered necessary in the circumstances. 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 the requirements of the resolution. ~ong the requirements of the ordinance are the following: (1) Money in the Sinking Fund in excess of the amount 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. (2) Allor any part of the Depreciation Fund may be invested in direct obligations or guaranteed securities of the United States of America. The investments made from the Sinking Fund and Depreciation Fund during. the year were in certificates of deposit in the Okeechobee County Bank a~d First Federal Savings and Loan Association of Okeechobee County. Nothing came to our attention that caused us to believe that any other requirements of the 1958 Water and Sewer Revenue Bond Ordinance were not complied \,lith. HO\vever, it should be noted that our examination was not directed primarily toward obtaining knowledge of such non- compliance. l!;!t~, ~'<>f~ McA pin, urtls & Assoclates Certified Public Accountants December 19. 1979 - 11 - - CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF GENERAL FUND REVENUES - BUDGET AND ACTUAL Year Ended September 30, 1979 "t., Taxes Ad valorem taxes Franchise fees Utility service taxes Licenses and Permits Occupational licenses Building permits Competency eards Intergovernnenta1 Revenues State shared revenue Cig2rette tax State revenue sharing }illbile home licenses E0mes~ead Exemption Trust Fund Alcoholic beverage licenses Gasoline tax refund Charges for Services Fire protection service Humane Department fees Fines and Forfeitures Court fines Police education Hiscellaneous Interest earnings Other Election qualifying fees Total Over (Under) Budget Actual Budget $155,000 $162,834 $ 7,834 85 ,000 93,232 8,232 90,000 93,107 3,107 330,000 349,173 19,173 18,500 20,551 2,051 3,500 7,351 3,851 3,500 3,505. 5 25,500 31,407 5,907 62 ,000 64,446 2,446 176,000 181,080 5,080 600 4,415 3,815 6,698 6,698 1,254 1,254 1,200 1,271 71 239,800 259,164 19,364 5,160 (5,160) 100 1,049 949 5,260 -1,049 (4,211) 18,000 17 ,361 (639) 700 764 64 18,700 18,125 (575) 54,000 76,173 22,173 2,000 26 (1, 974) 500 755 255 56,500 76,954 20,454 $675.760 ill5 . 872 $60 .112 - 12 - McALPIN, CURTIS & AS-SOCIA YES, C!;RTlFIEl> PUBLIC ACCOUXTA:o.I~ r'~' i CITY OF. OKEECHOBEE, FLORIDA SCHEDULE OF FUND REVENUES - BUDGET AND ACTUAL Year Ended September 30, 1979 Over (Under) Federal Revenue Sharing Fund Budget Actual Budget Intergovernmental Revenue Federal revenue sharing proceeds $ 94,740 $ 99,213 $4,473 Hiscellaneous Interest earnings 8,750 9,422 672 Total $103.490 $108.635 $5.145. Debt Service Fu.T1d Taxes Ad valorem taxes $ 36,760 $ 41,177 $4,417 Miscellaneous Interest earnings 7,000 9,188 2,188 Total $ 43.760 $ 50.365 .i6.6Q.J, - 13 - t I I I CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF GENERAL FUND EXPENDITURES - BUDGET AND ACTUAL Year Ended September 30, 1979 General Government Legislative City Council salaries City Council expense Executive City Clerk's salary City Clerk's office expense City Clerk's capital outlay Financial and Administrative Mayor I s salary Deputy Clerks' salaries City Clerk's office - overtime Mayor's expense Audit fee Board of Adjustment fees Legal Counsel City Attorney's salary Ci~y Attorney's expense Attorney special fees Comprehensive Planning and Zoning Professional fees Other Other General Governmental Services Telephone and telegraph City Hall operation and maintenance ~ew construction and additions Department of Public WorY~ Secretary salary Department of Public Works office expense Termite control Election expense Donations Utilities Health insurance Disability insurance General insurance Payroll taxes Unemployment taxes City Clerk's retirement Pension plan payments Employee Christmas bonus Condemnation proceedings Other Total - General Government _ 14 _ Budget $ 7,380 4,180 11,560 12,500 3,500 1,300 17 ,300 3,450 26,050 700 360 3,000 1,500 35,060 10,000 300 3,000 13,300 7,000 2,500 9,500 7,000 10,500 500 5,010 300 75 625 19,500 2,600 11,750 1,500 34,000 26,500 300 4,740 10,200 1,380 5,000 250 141,730 228,450 Actual $ 7,200 3,430 10 ,630 12,687 3,649 1,505 17,841 3,630 23,7 31 1,528 360 4,483 1,425 35,157 10,000 925 10,925 3 , 198 3,198 6,374 6,024 5,003 1,355 73 551 19,500 2,136 11,256 1,569 31,201 25,105 4,739 10,200 925 5 ,532 131,543 209,294 "! Over (Under) Budget $ (180) (750) (930) 187 149 205 541 180 (2,319) 828 1,483 (75) 97 (300) (2,075) (2,375) (3,802) (2,500) (6,302) (626) (4,476) (500) (7) 1,055 (2) (74) (464) (494) 69 (2,799) (1,395) (300) (1) (455) (5,000) 5,282 (10,187) (19,156) r I I "'_..4il CITY OF OKEECHOBEE, FLORIDA ~ SCHEDULE OF GENEP~ FUND EXPENDITURES - BUDGET AND ACTUAL (CONTINUED) Over (Under) Budget Actual Budget $211,635 $200,430 $(11,205) 6,500 6,413 (87) 3,125 2,751 (374) 700 598 (102) 400 (400 ) 34,485 38,516 4,031 2,050 2,074 24 3,600 3,893 293 8,500 8,120 (380) 270,995 262,795 (8,200) 69,925 69,421 (504 ) 3,150 1,558 (l,592) 15,650 24,027 8 ,37 7 13,350 7,253 (6,097) 22,440 22,440 124 , 515 124,699 184 12,430 12,569 139 2,600 2,659 59 350 537 187 15,380 15,765 385 200 (200) 411,090 403,259 (7,831) Year Ended September 30, 1979 Public Safety Law Enforcement Salaries Overtime Incentive pay Education Investigation Operating expense Crime lab COTIIrmmicat ions Capital outlay Fire Control Salaries Overtime Operating expense Capital outlay Hydrant demand charge Protective Inspections Building official salary Expense allowance Office expense Emergency and Disaster Relief Services Civil Defense Total - Public Safety Physical Environment Garbage/Solid Waste Control Services Refuse collection 12,500 Transportation Road and Street Facilities Salaries Overtime Operating expense Capital outlay Street lighting 61,000 2,500 29,000 10,650 36,000 139,150 Human Services Health Humane Officer's salary Animal Pound expense 10,440 1,200 ll,640 Contingencies 25,000 Total - General Fund mi2.L~ 30 - 15 - 12,460 (40) 56 , 907 3,258 49,184 11,181 43,440 163,970 (4,093) 758 20,184 531 7 , 41~0 24 , 820 10,421 1,503 1l,924 (19) 303 284 (25,000) ~fLQ~) $800.907 CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF OTHER FINANCING USES -- BUDGET AND ACTUAL Year Ended September 30, 1979 General Fund Operating Transfers Transfers to Water and Sewer Fund Federal Revenue Sharing Fund Operating Transfers General Fund Water and Sewer Fund Total Debt Service Fund Principal retirement Interest Fiscal agent's fee Total Budget $ -0- $ 94, 7 l~O 168,170 $262.910 $ 15,000 28,650 300 $ 43.950 - 16 - Actual $ 10.260 $ 84,481 33,281 $117.762 $ 15,000 28,650 750 $ 44.400 -i Over (Under) Budget $ 10.260 $ (10,259) (134,889) $ (145 .148) $ L 450 450 _.- ~ r" I i ! CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS Year Ended September 30, 1979 Balance Balance October 1, 1978 Additions Retirements September 30, 1979 Land and improvements $128,712 $128,712 Buildings and improvements 97,233 $ 525 97 ,758 Furnishings and eq ui pmen t 109,173 11,504 120,677 Rolling stock 169,557 16,985 $1,591 184,951 Total $504.675 $29.014 $1.591 $532 .098 - 17 - CITY OF OKEECHOBEE, FLORIDA _. ""'Ill SCHEDULE OF CHANGES IN RESERVE ACCOUNTS ~.JATER AND SEWER FUND Year Ended September 30, 1979 - 18 - ...,....... CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF BO~~ PRINCIPAL AND INTEREST TO MATURITY GENERAL OBLIGATION BONDS September 30, 1979 Principal Interest Total Principal and Interest Payments Due For !ear Ended September 30 1980 '/ (1 ~ (, j)~c $ 15,000 $ 27,525 <J $ 42,525 2- ]: ".f-~' :--1 l... po; - - ~ ..- ...., 1981 Ylo!. ~, \ -1- go I ~ I t1/~ .'. ..... 15,000 26,400 41..400~ 1982 , 15~000 25,275 40,275 1983 15,000 24,150 39,150 1984 20,000 23..138 43,138 1985 20,000 21,788 41,788 1986 20,000 20,437 40,437 1987 20,000 19,087 39,087 1988 25,000 17 , 738 42,738 1989 25,000 16,050 [.1,050 1990 25,000 14,363 39,363 1991 25,000 12,675 37,675 1992 30,000 10,956 40, 956 1993 30,000 8..894 38,894 1994 30,000 6,831 36,831 1955 35,000 4,769 39,769 1996 35,000 2,362 37 ,362 Total $400.000 $282 .438 .$_Q82 .438 Bor.ds maturing 1982-1996 are redeemable at the option of the City on any interest date by paYE2nt of a premium of 3 percent between 1982-86; 2 percent between 1986-91 and 1 percent after July 1, 1991. Interest is payable at 7.5 percent on bonds maturing through 1982; at 6.75 percent for bonds maturing 1983 through 1990; at 6.875 percent for bonds maturing 1991 through 1995, and at 6.75 percent for bonds maturing in 1996. - 19- -. - ....... CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF BOND PRINCIPAL AND INTEREST TO MATURITY 1958 HATER AND SEWER REVENUE BONDS September 30, 1979 Principal Interest Total Pri~ci?al and Interest Payments Due For Year Ended September 30 Total $ 17 ,000 $ 7,740 $ 24,740 18,000" 6 , 975 . 24 , 975 18,000 6,165 24,165 19,000 5,355 24,355 20,000 4,500 24,500 21,000 3,600 24,600 22,000 2,655 24,655 23,000 1,665 24,665 14,000 630 14,630 $172.000 $39.285 $211.285 1980 1981 1982 1983 198.4 1985 1986 1987 1988 T~e bonds Dear interest at the rate of 4-1/2 percent and are secured by the net revenues oi the ~a:e~ and Sewer System and the utility taxes. The bonds are redeemable in whole or in part in inverse order of maturity on any interest date at par and accrued interest pl~3 a redenption premi~ of 4-1/2 percent. - 20 - , ...... CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF BOND PRINCIPAL ~~D INTEREST TO }~TURITY 1972 WATER AND SEWER REVENUE BONDS September 30, 1979 Principal Interest Total Principal and Interest Payments Due For Year Ended September 30 1980 $ 5,000 $ 19,050 $ 24,050 1981 5,000 v 18, 800 .... 23 , 800 1982 5,000 18,550 23,550 ~---_._- 1983 6,000 _ 18,300 24 , 300 1984 6,000 18,000 24,000 198,5 6,000 17,700 23,700 1986 6,000 17 ,400 23,400 1987 7,000 17,100 24,100 1988 7,000 16,750 23,750 1989 7,000 16,400 23 ,400 1990 8,000 16,050 24,050 1991 8,000 15,650 23,650 1992 9,000 15,250 24,250 1993 9,000 14,800 23,800 1994 10,000 14,350 24,350 1995 10,000 13,850 23,850 1996 11,000 13,350 24,350 1997 11,000 12 , 800 23,800 1998 12,000 12,250 24,250 1999 12 ,000 11,650 23,650 2000 13,000 11,050 24,050 2001 13,000 10,400 23,400 2002 14,000 9,750 23,750 2003 14,000 9,050 23,050 2004 15,000 8,350 23,350 2005 15,000 7,600 22,600 2006 16,000 6,850 22,850 2007 17 ,000 6,050 23 , 050 2008 18,000 5,200 23,200 2009 19,000 4,300 23,300 2010 21,000 3,350 24,350 2011 22,000 2,300 24,300 2012 24,000 1,200 25,200 Total $381.000 $403.500 $784.500 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 subordinate to the outstanding 1958 Water and Sewer Revenue Bonds. The bonds are redeemable in whole or in part in inverse order on any interest payment date at par and accrued interest. - 21 - .... CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF INSURANCE COVERAGE September 30, 1979 Description Coverage Fire and Extended Coverage City Hall (80 percent Co-Insurance) Water Department buildings 110,000 82,000 Conprehensive General Liability Bodily. inj ury Property damage Medical payments Personal injury liability 300,000 50,000 500/10,000 300,000 Lai'; Enforcement Liability Bodily injury, personal injury, property damage First aid Puniti.ve damages 150/300,000 5/25,000 5/25,000 Workmen's Co~pensation and Employer's Liability Statutory Rates Vehicular Equipment Bodily injury Property damage Collision ($100 deductible) Comprehensive ($50 deductible) 100/300,000 50,000 ACV ACV Scheduled Property Floater ($100 deductible) ACV Public Officials Bonds City Clerk Other employees 15,000 15,000 Police and Full-Time Firemen Accidental death 20,000 Volunteer Firemen Accidental death Medical payments Heekly indemnity 10,000 5,000 100 - 22 - .- CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF ASSESSED VALUES, TAX LEVIES AND RATES - LAST TEN YEARS Real Personal Homestead Year Property Prop'erty Total Exempti9n 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 4t702,690 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 1971 11,119,065 2,299,576 13,418,641 3,030,375 1970 10,612,610 2,279,271 12,891,881 2,868,200 Tax Levy and Applicable Rates Levies Rates Debt General Debt General Service Government Year Service Government Mills Mi lIs -- 1979 $40,248 $17 9,780 .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 1973 47,181 112,113 1. 65 4.50 1972 55,653 107,292 3.00 7.00 1971 49,347 80,511 3.00 6.00 1970 31,520 77 , 351 2.00 6.00 - 23 - CITY OF OKEECHOBEE, FLORIDA SCHEDULE OF REVENUES AND UTILITY CUSTOMERS LAST TEN YEARS Revenues - Other Than Property Taxes - General Fund (Note 1) State Revenue l.~. . Year Sharing Occupational Utility Fines and Franchise (Note 2) (Note 3) Licenses Taxes Forfeitures Fee 1979 $251,212 $20,551 $93,107 $18,125 $ 93,2 32 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 , 77 9 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 1971 159,956 10,220 33,315 23,663 1970 137,369 8,446 27,346 21,012 Water and Sewer System Revenues Sewer Service Water Delinquent Charges Billings Charges Miscellaneous 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 1970 21,868 115,438 164 690 Water Water Water Total Meters in Heters Meters Non- Water Unmetered Sewer Operation Cut Off Operative Heters Customers Connections 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 , 82 9 9 352 1970 1,513 107 1,620 21 313 - 24 - M(ALPI~ CURTIS & ASSOCIATES. CERTIfiED PUBLIC ACCOU~T^NTS r - Fire Department Anti-Recession Permits Interest Payment Fund Miscellaneous $10,856 $76,173 $ 2,035 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 8,530 31,801 15,000 6,456 10,694 '20,912 13,750 4,653 6,185 9,691 12,500 4,908 6,496 13,331 11,000 2 ,355 6,240 8,330 1,945 3,019 8,331 1,757 Connection Charges Interest on (In Aid of Hydrant Utility Investmer..ts Construction) Rental Taxes $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 12,073 13,467 25,000 7,975 12,685 $44,878 12 ,639 19,135 52,415 7,639 7,535 45,976 7,639 4,015 42,733 Note 1 - Amounts for years prior to 1974 have been reclassified to correspond with 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 for the twelve months ended Decem- ber 31. Note 3 - Includes additional two-cent cigarette tax.