Audit Report 12.31.1970
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CITY OF OKEEC110BEE. FLORlDi\
AUDIT REPORT
D'('(':abcr '~l, 107()
CITY OF OKEECllOBEE, FLORIDA
OFFIC~L DIRECTORY
D('ccmbcr 31, 1 lJ7(J
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MAYOR - COUNCIL
Council - President
Audlcy Dunham
CL1lloe Cardner
Mayor
ClJ\lncil:wn
E" IL llunt
Franklin W;.lker
N"lil S. P;ldgett
Charles L. Brf'l;lnd
Council - Vice President
Counci 1;;\<1n
Gounc i lr'1i1n
ADHINISTRAT I\'E
Chief of Fire Department
Lorena SlJivcy
J. Erlwarcl Curren
A uJl e y Dunh3l.1
L. C. Fortner, Jr.
C Ao Tbol'1l1s
Olen Godwin
City Clerk
Ci ty Attorney
MunicipC11 Judge
SuperintcnJf'nt - Water and Sewer Department
Chief of Police
Building Inspector
Cl ayton Whi te
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CITY OF OKEECHOBEE. FLORIDA
AUDIT REPORT
Decemher 31,
1970
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TARLE OF CONTEJ:TS
P;,\~e
Audi tors' 0; inion
G,'neral C"1nllcnts
City Government Funds
Comhined Bnlance Sheets
Genero 1 Fund;
Balance Sheet
StDtcf'1ent of Chonges in Fund Bc"lance
SUltement o[ Revenues <lnd Expenditures
State::lent of EY.pcn:]itures
Statement of General City Fixed Properties
Debt Sc'rvice Fund.
Balance Sheet
S tn tef'1ent of R,'venues, Expcnc1i tun's cind Changes
in Fund Bi.l;:llce
Statc:'1cnt of Genernl Bonded D"bt
Schedule of Gp[1f'rDl Bo[ded Debt and Interest to MDturity
Surmaary of Insurnnce CoverClge
Wnter ond S0wcr Syst0ms
Combined RDlancc SL0et
Combined S ta tcment of Rc'taincd EcHnings
C,)rJbined Stc1tc:nent of Suurce ond Application of Funds
Stntement of ChClnges in R,'serve Accounts
Computation 01 Depreciation Fund Reserve Requirement
C('!lhincd Staterlcnt of Revenues, Expenditures and Bond
Indenture Requirements
Combined StAtement of Revenues and Expenditures -
Budget CompArison
StCltc:lcnt of PlDnt, Property onJ Equipmr'nt
Schedule of Welter Clnd SeHer Bonds C'ncl Interest
to Hclturity
Statistical Tobles
Assessed VDlue of All Taxable Property
Other General Fund 2nd Water-Se\ver Revenues;
W8ter Meters and Sewer Connections
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McALPIN, CURTIS & O'flAIHE
CERTIFIED PUBLIC ACCOUNTANTS
p, 0, BOX 3346
FORT PIERCE, FLORIDA 33450
IRA M. MCALPIN, JR., C. p, A,
LYMAN B, CURTIS. C, P. A,
'THOMAS F, O'HAIRE, C. p, A.
S. THOMAS HAM IL TON, JR., C. p, A.
'SAMUEL R, PETERKIN, JR.. C. P A
Horch 25, 1971
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Hononlble H2yor iJnd Ci ty Council
City of Okeechobee, Florida
He have examined tile' various Fund BaL1l1ce Sbe",ts of
the City of Okeechobce, FloridiJ as of December 31, 1LJ7(), Clnd
the various rel:,tecl Stiltements of Fund Br,lnl\ces, Retaine,]
Earnings, Revenues nnd Expenditures and Source and Application
of Funds for the yeilr tlh'n ,.ndecl. Our c)(;l~lin.'1tion \.J,IS mnd", in
i' c cor d <' n c e v.' i t h g l' n e r " 11 '1 n c c e p t l' d f! II cl i tin '''; cO t r' n.l<: r cl s, f! n ,]
rlcconlingly includecJ "ueh tl'sts of till' ,'ccounting recor Is c'nel
sUlh other 2udi ting procedures <lS we con',idered necessary in
the circumstances.
In our opinion, the ncconpnnying Fund B<lloncc Sheets
and yc1"tpd Stcltemf'nts of Fund Bi'lances, Retr'ined Enynings,
R,'VI'nues and Exprnditurcs ,nnel Suurcc ond Applicntion of Funds
pr0sent fAirly the [inilncL,l position or the City ot Okf'cchobcc,
Flcnielil, at Dcccf.lber 31,107'1, ;:nd the results of its operr'tions
ior tlie yc>,lr then ended, in confoLi"1ity \,}ith p,encrnlly ilcccptl'd
municipn1 accounting principles applied on iI basis consistent
\-Jith tilat or the prccc~c\ing yeilr.
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Ccrti.iecl Public Accountants
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CITY OF OKEEClIOBEE, FLORIDA
GENERAL COMHENTS
Cash and Certiticates of Deposit.
Cash ilnc1 cCl-ti'icatC's of d<!"p-Qsit of the ViHill\lS funds of thl' City ::lre
sunnwrized AS follow~'
Cash on hand:
Clwnge funds
Cash on deposit.
Okeechobec County Bank
Checking accounts (5 accounts)
Certificatcs of DC'posit
Okecchobee County Bank (10 Certificates)
First FederFl SAvings and Loan Association
of Okeechobee County
$ 225.00
223,125.89
328,%9.73
15,000.00
$567,300.62
With Fiscal Agents:
Marine National Bank of Jc.cksonvillc, Florida
Irving Trust COfl1pany, New York, N'.'w Y,nk
6 9/+0.)0
13 , 8 7/, . 'jl)
Total on Hand and on Deoosit
.
$588.115.12
DlJrill:j the course of our cxn:ainCition FC observed that substantic;l CAsh
balances, in excess of nomin.::;l requirel'h'nts "ere on deposit in non-int,'rcst bearing
accounts. As recommended in prior years, ;"In cctive progran should be lJursu(,;j to
~8intain the maxiQun amount of funds invested in certificates of deposit.
Tile Okcechobee County Bank has pledged $300,000.00 in U. S. obligations to
secure ell City funds on deposit.
Fixed Properties - Gl'n,'ra 1 Ci ty - $278,635.47
Water and Sewer Systen - $989,899.26
The investment of the City in fixed properties is carried on the records
at cost. Depreciation of the Woter and Sewer Systems, based on the estinated life
of the properties has not been provided for in the finC1ncial statements.
The Revenue Bond indenture requires thp annual deposit in a Depreciation
Fund of an amount eqUAL to 5% of gross revenues collected. The fund is Civailab10 Lor
expenditures for repairs, replacements, improvements and betterments, although it has
not been used for these purposes.
In order to exercise proper control over the general fixed properties of
the City, it is recommended that detailed rroperty records be developed to ~,upport
the general ledger control accounts.
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Bunds P.:1YRble and Interest to Maturity
Long-term debt and int,'rcst to maturity i"re summvrized as f011ows~
1942 rcfunding bonds
1958 ,'.'ater i'nJ sewer revc'm,c bonds
Princi pCll
$L.80, 500.00
293,000.00
$773.500.00
Interest
$ 24,025.10
137,790.00
$161.015.00
A'TIounts Rescrv, c1 for FutUI
PnYl~lI'nts as 01 D,'c(,~Iher,1, 1(170
1~42 refunding bonls
1958 water and sewer bonds
Current principal provision
Maximum ~rincipa1 and interest
rcquirement (1981)
Excc'ss nv;]ilC1bll'
..
$ 41,551.97
$ 5,500.00
24,975.00
12,754.2.:'
~3, 229. 2LI
$ 84,781.21
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TotR1
$504,525.00
430,790.00
$935.315.00
Th0 rcfunding bonds o( 1942 ~re due on Jnnuary 1, 1972. In March 1971, the
f'lC'ctorate authorized the refimmcing of the reLunding bonds over an addition.:;1
thirty year period.
Operations of the City for the Year
The operatiu: revenues and expenditures of the various funds [or the year
are summarized DB follows~
GenC'nll Fund
Revenues
Operatin~ expenditures
CRpitR1 'xpcnditures
N,' t Revenues
$183,333.46
24,554,51
Debt S!'rvice Fund
Rc,v.'nue s
Exp,'nditurcs
Net R,'venucs (Dt'ficit)
Water and Sewer System
Revenues
O;.erating expenses
C3pita1 expenditures
Bond indenture requirements
Deficit
Utility service tAxes
Excess
$116 , 7 54 .8 1
17 ,577 c 30
31,076.95
$282,989.94
207,887.97
$ 75.101097
$ :3,697.88 i
:~ 2, 7::'4 c) 1 II
$ ( 9 , 026 0 6 J) !I
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$11+ 1 , 661. 13 Ii
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165, [+09.06 Ii
$ (23 , 747 , 9?) II
4 2 , 733 . 2 3 I;
$ 12,985.30 !I
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The general fund surplus amounted to $351,445.11 at December 3l, 1970, on
increase of $75,101.97 over the preceding year. Available funds, in the form of cosh
and certificates of deposit, totaled $303,690.79 and represented ~ufficient reserve
to finance the general fund operations for eighteen months at the rate of expenditure
in 1970. It is suggested that the City Council budget the purposes for which the
cash balances are being accumu1atedc
An analysis of the water and sewer retained earnings account Dnd the revenues
bond indenture reserves created by appropriation there from, discloses that utility
service tax revenues of $97,990.19 have been retained in the fund in excess of require-
ments.
McAL.PIN, CURTIS & O'HAIRE, CERTIF"lED PUBL.IC ....CCOUNT....NT.
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Insurance Covcrage
Insurance coverage on city mmed propprty wns limited to the.' City Holl
property ond vehicular equipment at Deccobcr 31, 197(L In 1971, cov,'rnges Ivere
increased to $100,000.00 on the City Hol1 and $30,000.00 on the Fire Station.
Section 7 (b)of the water and sewer hond indenture requires that the plant
facilities be insured to the extent pcrmissable to IJrotect the interest of both the
City 2nd the bond bC11ders. Th*(' City.shouli rec0ivp <Issurnnce lroll its insurance
2~visor thn t this provi sion of the bOfld inc\c'nturc Lns been COla\' lied '"-'i tl.
Geoenll
At the present time checks issued by the City require the sign<1turp of thn'e
officials. During the course of our examination we observed that [1 substantial number
of checks had been signed in Ddvance by two of the officials. We suggest that either
the checks he signed by <111 officials after they are prepared or the requirement of
three sign<itun.'s be chimgcd to pcrmit payment of properly authori~-:cJ charges on the
signature of the City Clerk.
Under the present procedures for the collection of property taxes by the
Cl)Unty, the City hAS not been informed of the totRl 1~70 t.:lxes extended nnd apparently
",'ill not be furnished with .3 finl11 nccounting of the lCJ7i) lRX cl'l1ections. The City
should take the necess[1ry steps to hnve the inforlAtion made avail.3bl,,' by the County.
Collections from City emrloyces in pClyment of items purchased sbould be
entered on the City records when received.
For the past
the authorized budget.
expenditures in excess
two yeors the expenditures of the General Fund have exceeded
Provisions of the clwrter prohibi t the Duthorization of
of the budget.
Tile water and sewer bond indenture outlines the accounting procedures to be
followed in providing monthly deposits to the sinking and depreciation funds. The
City has made large excessive appropriotions in the past and provides [or current
principal and interest pa~nents as the amounts become due rather than following the
outlined procedures.
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CITY OF OKEECHODEE. FLORIDA
GENERAL CITY GO\ERNMEt\T FUNDS
COMBINED BAw\NCE SHEETS
D0cembl'r31, 1 "7')
>0-
D,'bt General
Gel10r" 1 Service Fixed General
ASSET~ Fund Fund Assets Bonded Debt
C"sh $137,070.70 $ 16,795.15
C;1sh 'vi th fiscal Agent 13,87/,.50
InvC'stmcn ts:
Certificates of deposit l66,620.09 25,294.55
Recei vAbles:
T3xes less rcserve for
losses 53,652.85
AccruC'd interest rrcciv3blc 1,23g.58
Due from deht service fund 537.73
General city fixed proper tips $:::'78,635.1+7
Arnaun t availablc r r ~.~ t i 7' C . t:"~ ',"-
lor
of Refunding Bonds and Int0rest $ 41,551.97
Amount to be provided for
retirement of Refunding Bonds
and Interest 462,973.03
TOTi\L ASSETS $3SCJ.120.95 $ 55.964.20 $278.635.47 $504.525.00
Ll1\BILITIES At\D FUND BAlJ\NCES
Li,~biliti(';;
ACCOUI1 Ls pnYAblc $ II , 385 . 3l
PAyrull Dn,] vi tllhol,ling
tax pDyablL' 3,290053
Due to General Fund $ 537.73
Natured interest coupons 1,837.00
Interest coupons due
January l, 1971 12,037.50
Bonds pnyab1e $480,500.00
IntE'rest due to maturity 24,025.00
Total Liabilities $ 7,675.84 $ 14,412.23 $504,525.00
Fund Ba Lmc(' s
Invcstnwnt in General
Fixed Assets $ 2 78 , 63 5 . II 7
Fund bc11nnces 3 5 1 ,I' 4 5 . 11 III , 551 . c} 7
TOTAL LIABILITIES AND
FUND BALANCES $359.120095 $ 55,964.20 $278.635.47 $504.525.00
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CITY OF OKEECllODEE. FLORIDA
GENERAL FUND
BALANCE SPEET
Dl'cenlbi'r 31, 1 '170
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ASSETS
C" sh
Investments (cost)
Ccrtiticates of deposits
RC'ccivabl ,~,
TaxC's rcccivahle
Less rcserve for loss on collection
D(,linqucnt strcet and sewer liens
Ll'ss reserve for loss on collection
A ecru c cl in t (' res tn' c c i \ 0 b 1 e
T1u,l R,'cI'i\r'bl,'s
Due From Othcr Funds
Debt service Lund
$ 92, 28 5 . 8 1
3f.,632.%
$ 2,775.56
2,77c'.56
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
Liahilities
Accounts payable
Pilyroll ;lnd ~,'ithholding tClX pCJyiible
T'lt.d Linbiliti,'s
Fund B"lancc
TOTAL LIABILITIES AND FUND BALANCE
$ 53,652.85
- 0 -
1,239.JP
~
6 '
$137,070.70
l66,620009
54,892043
537.73
$359.120.95
$ 4 , 385 . 31
3,290.53
$ 7,67,.b4
35l,M.5cll
$359.120.95
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CITY OF OKEEcHOREE. FLORI::Ji\
GEl',ERAL FUND
STATEMENT OF CHANCES W FUND BALL\NCE
Y,'Ar Ended ;) c,"'lb,r 'n, 1"7')
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Fund B,~1.:mce - J.snuAry 1, 1970
$276,343.l4
AId;
R,'vcnuc s
EX[1enc1i tures
ExcC'ss of revenues over expenditures
$ 2( 2, 929. 9ft
207,8(7.Cl7
75,101.CJ7
Fund BA1Rnce - December 31, 1970
llil, 445.11
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CITY OF OKEECHOBEE. FLORIDA
GENERi\L FUND
STATEHENT OF REVENUES AND EXPENDITURES
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Ypar Ended Dr'cc'nbC'r 31, lQ71)
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Rl'VL'nUCs
Taxes:
1970 tax levy less discounts
Prior yr'nrs tax collections - net
TotAl T[ix RC'venu,'
Ci~[lrettc tax collections
Fines and [orlciturps
Frnnchisp fpc - Florida Power & Li~ht Co.
Occupatinnnl licenses
Bui l,ling permi ts
lntcrpst on certi'icatC's oE deposit
Dog pound fees
Interest, penalties and costs - delinquent taxes
Rezoning fees
MiscC'11nneous
TotAl Revenues
Exppnu i tll n' s
General government
City clerk's otfice
Parks, street and sanitary department
Fire department
Police c!erartmcnt
ContingC'ncics
Total Expencliturps
Excess of Revenues Over Expenditures
Actual
$ 75,37L17
336. ',/{
$ 75,7'17.(1
137,369.11
n,34L53
21,012.19
8 ,1.4 ( . 76
3 , 0 l') 5 ()
b , 3\1 10
472. DO
295 J 1
2L.U. )cl
7~().03
$2f2,%9.94
$ Cl,033.lf,
l5,537c37
43,739.22
19 Jd2. 7/Co
68,145.50
$207,(('7.(;7
$ 75,li)L97
8
Bulget
$ 116,000.00
114,000.00
19,000.00
17,OnO.Oo
7 ,50!). iJO
1 , OOD . '10
l')O.OO
$ 201f , 600.00
$ 37,992.00
14,580.50
64,000.00
l3,909.70
69, 7J'd . 50
~+,37C1.j() "
$20'f,600.00
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CITY OF OKEECHOBEE. FLORIDA
GENERAL FUND
STATEMENT OF EXPENDITURES
YCAr Ended December 31, 1970
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Gener"l Government
MAyor, CounciL1en ani Attorney - salAries
Building inspector - salary and expense
Dog pound - salaries ~nJ expense
Insurance and pnyroll t[1xes
C i t Y H P 11 [11<1 in t e 11" n c e
C i t Y }Lc 11 r e p air s
Don"tions
Election expense
General expense
Au,Ji t
Civil defense
C;-Icital ,'xpu1,liturcs
A [' tu;, 1 Budget
~nd expense $ 8, 700. IJO $ 8 , 71)(). 00
0,~20,SO 6,942. i)O
4,872.22 4,500.00
8,307.98 10,500.00
2,2(,7.31 2,300.00
1,'):.'>7,(5 2,500. 'JO
2, (), )1). ,)() 1,500.00
n) .FO
3,2H.61
1 , ooc) . 1)0 750.DO
JOO.c)O
2'),fJC'.~ 7
$ 61,033.1-1 $ j7,992.)()
Ci ty Clerk's 0 f rice
SAli'ries
Telephonc tlnd telegraph
Gcneral exponse
CApitol expenditures
Pnrks, Strcets Elnd SAnitary Departmcnt
SAlaries and general expense
Street lighting (including All electricity)
CapitAl expenditures
FirE' D"!'llrtment
S"lari('s
Volunteer firc department expcnse
GcnerC11 expense
Capital expenditures
Police Departmcnt
Salaries
General expense
Maintenance of radio units
Capital expenditures
Ccmtingencies
Total GenerAl Fund Expcnditures
$ l2 , 964. 6{+ $ 12,730.50
1,01':;.30 350.00
1,37Q.68 1,500.00
177.75
$ lS,537.J7 $ 14,580.50
$ 31,217.47 $ 53,000.00
12 , 28 1. 75 11 , ODD . 00
2 tll). )I)
$ 43,739.77 $ G!+ ,000. DO
$ 8,061.21 $ 7,909.70 !
300,00
8,747.79 6,000.00
2 , 3 2 3 . 7 {.
$ 19,432.7t+ $ 13,909.70
$ 51,549.51 $ {+8,938.50
VI- ,366.26 20,000.00
73 6 . 58 800.')0
993.15
$ 68,145030 $ 69,730,:"0
$ 4,379.30
$207,887.97 $2')4,600.00
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CITY OF OKEECHOBEE. FLORIDA
STATEMENT OF GENERAL CITY FIXED PROPERTIES
DccemhC'r 31, 1970
..
L~nd Dnd Improvements
Real cstnte - lot adjoining City Hall
L,lprovements - ,vell .:md sprinkler
system City He,ll
P2rks and sanitary system
Dog ""uo.!
City streets, sidewalks, roads
,me! culverts
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Ruil ~ings ;:mcl I,:Jl'rovcf'\('nts
111
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I' Fire stntion
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Furnishings and Equipment
City clclk's office
Parks department
Police department
Mobile ond bnse radio
Firc deprtrtment
Mi1yor's office
units
Rollin~ Stoe';
Fire trucks
Police cars
Parks, street and sanit2ry department
Total Gcneral City Fixed Properties
Source of Additions
General expenditures
Less cost of property traded
B:' L1l1Ce B:J1nnce
D,'c('mbcr 3l, Net DC'cembcr 31,
1969 Additions 1970
$ 6,000.00 $ 6,000.00
3,8t,1.30 3,8[,1.30
23,b77.09 23 877 . 09
462.23 462.23
7/"l3~~.l(1 7",l3b.l4
SlOe ,3lE;.76 $108,318.76
$ l,04l 75 $ i , ()I+ 6 . 75
20,54,< . (,5 20, 5M;. 6)
44,164.co 1+4, l64 .88
2 J ,1.07 .80 23 ,IJ07 .80
$ 89 , He . )8 $ 89, 168.08
$ 6,310.55 $ 451.30 $ 6,761.05
1,677.18 1,677.18
2,024.06 993.15 3,017.21
5 , 8 68 . 1 2 5,860.12
9,325.09 1,902.75 11,227.84
Sl7.76 517.76
$ ::),721.76 $ j , 31, 7 .20 $ 29 , 06 () . ') (
$ 5 , 08') . C)O $ 3,535.31 $ 8,620.3l "
7,450.30 (702.30) 6,748.00
24,98E.36 11,72',00 3(.710.36
$ 37,521.66 $ 1!4,,)57.0l $ 52.0n.C7
$260,731.26 $ 17,904.21 $278,635.t,7
$ 24,554.5l
6,6'JO.V)
$ 17, gOt, .21
McALPIN. CURTIS & O'HAIRE, CERTlF'IEO PUBLIC ACCOUNTANT.
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CI1~ OF OKEECHOBEE, FLORIDA
DEBT SERVICE FUND
BALANCE SHEET
Dc:cerrlbr'r 31, 1970
lr;.
j\SSETS
TOT!lL !lSSETS
$ 16 795.l5
13,874.50
25,294.55
$ 5 5 , 9 64 . 20
Ci1sh
Gash with fiscal agent
Investments (cost);
Certificates of deposit
LIABILITIES AND FUND BALAnCE
Li<1bi li ties
M,iturr'd inter0st coupons outst,mding
Interest coupons due Jnnuary l, 1971
$ 1,837 . ()O
12,1)37.',
$ 13, nt,. 50
Due to other tunds.
General lund
Totnl Liabiliti0s
537.73
$ JIt,t+l2.23
F\lnd Bnl3nce
II 1 , 5 5 1 . \) 7
TOTAL LIABILITIES AND FUND BAU,NcE
$ 55,964.20
Note, This st,'1tcffient docs not reflect $21,172.06 in uncolll'cted 1970 debt
service levy. T"xes ilre recorded, in the fund, as revenue, when
col1ectec1.
McAL.PIN, CURTIS & O'HAIRE. CE"'T1F"1ED PUBI..IC ACt:DUNTANT.
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CITY OF OKEECHOBEE. FLORIDA
DEBT SER\'ICE FUND
STATEMENT OF RE\'ENUES. EXPENDITURES Arm CHANGES IN FUND BALANCE
Year Ended Deccmbcr 31, 1970
Rf'\'pnue s
Tnxes collected
Intcrest on certificates
Total Rcvenues
,.j uepo::;i t
$22,433.16
l,264.72
$23,697.88
Exppndi tl1r(' s
Bond~ retired (Note 1)
Interest on bonJs
Fiscal agents fees
TotAl Expenditure's
$ E,550.0r)
24,112.22
62.29
32.724.51
EyCf>SS Ok fie it) (): R,\"nues Over E^ll('n(~i turcf
$(9,026.63)
Fund B'J lAnce - Jnml.sry 1, 1 (7')
,D,=,7c.C!J
Fund BiJ1ance - D"u'mbcr 31, lCJ70
$(+1 ,5~
Note 1 - Bonds, with par value of $9,000,00, were redeemed ot 95% of par.
MCALPIN, CURTIS & O'HAIRE, CERTIFIED PUBLIC ACCOUNTANTS
Decf'iaber 31, 1970
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CITY OF OKEECllOBEE, FLORIDA
STATEMENT OF GENERAL BONDED DEBT
A:'lount Available and to he Pr<)\,ilccr' for the
P8Y'nent of Gelll'r:'l Bunde'! D,.bt
Refunding bonds of 1942~
Amount [lvoilClb1c in debt service fund
Amount to be pruvided
$ It 1 , 5 51 . 9 7
462,971.0]
T()t"l t\vri1C1hlE' :'Dd to be Pri)vidf'd
$504,S2S.UO
Gpncr"l Bonded Debt
Refunding bonds of 194?
Princil'ill al:1ount
Interest to maturity
$M~O, SOU.)O
24 0 '2 r . 'J ()
T()tal Genernl Bc)nded D,'bt
$50!t,S2S.00
McALPIN. CURTIS & O'HAIRE, CERTIFIED PUBI..IC ACCOUNTANT.
.-;---~--~--
.,.
"'T"t" 1
A mou n t
of l:;sue
Re ti n.d
Prior Y"i1rs
R(,tin'd Year
Ended
Dccer:lher 31,
1 "70
14 ~
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Outst<ll1ding Ii
December 3l,:'
1970
CITY OF OKEECHOBEE. FLORIDA
SCHEDULE OF GENERAL BONDED DEBT AND INTEREST TO MATURITY
December 31, lQ70
Refunding bonds of 1942
dated J~lOuary l, 1942,
due Jnn\lcry l, 1972
S" r i (' s A
Series B
Mnturities nnJ Interest P~y~ble
I -1 - 71 (N () tel )
7-1-71
l-l-72
$!. 19 , (JOO . 00 $ bb,O()O.OO $ 3,000.00 $ 12E" 000.00
2 (ll:: ,000. ()O 1 )() , 5()O . no (, , (J()O . 00 152,')00.00
$ 687 ,000 c 1)0 $197,500.ClO $ 9,000.DO $Lf80 ,500.00
Princi;l;,l InterC'st Total
$ $
12,012.50 12,012.50
$480,500.00 l2,Ol2.50 492,5l2.50
$!,HO. 500.00 $ 24,025.00 $ 501, , 5 2 5 . 00
Note 1 - Cash of $l2,037.50 was deposited with the fiscal agent in December 1970
to rC'tire the interest coupons due January 1, 1971. Interest is payable
semi-annually at the rate of 5% per annum to maturity. The entire issue
matures JanuDry l, 1972, but is subject to redemption at par on any
intcn>st payment date. In H,:rcb 1971, the electorate ,wthorized the
re[innncing of the refunding bonds over an additional thirty year period.
McAL.PIN, CURTIS & O'HAIRE, CEI'ITlnED PUBLIC ACCOUNTANT.
15
CITY OF OKEECHOBEE. FLORIDA
SUMl'lARY OF INSURANCE COVERAGE
December 31, 1970
Dpscripti~ Cov('rar~e
Fi rc ond extended coveroge
City Hall (80% coinsurance) (N,)te 1)
$
20,000
Liability - general - except streets, siclev.'<L,s,
playgrounds, swimming pools or airports
Bociily injury
25/50,000
Wor~mcn's compensation and employer's liability
Statutory R<1tes
Public officials bonds
City Clerk
Others
10,000
2,500
VchicIIlnr equipment
Bodily injury
Property danwge
C(,llision ($50000 deductible)
Comprehensive physical damage
50/100,000
25 000
ACV
ACV
Police ~nd ful1time firemen
AccidentDl death
10,000 :
Volunteer firemcn while in pcrformance of duties
Life insurance
Medic[1l payments
Weekly indemnity
10,000
2,500
50
Note 1 - In 1971 coverage was incre3sed to $100,000 on City Roll and
$30,000 on Fire Station.
McALPIN, CURTIS & O'HAIRE, CERTIF"lED PUBl.IC ACCOUNTANTS
~~
---- --- - - ..------.-- -.._--
--~..::=~-----_._-----_._--_.- -.-.- -.--.--
Plant, Property and Equipment
Water system
Sewer system
Machinery and equipment
Office equipment
Total Plant, Property and Equipment
Restricted Funds
Cash with fiscal agent
Revenue bond sinking fund
Certificate of deposit
Depreciation fund
Certificates of deposit
Total Restricted Funds
Current Assets
Cash
Certificate of deposit
Accrued interest receivable
Accounts receivable - consumers
Less reserve for losses
December water and sewer
revenues billed in January
Total Current Assets
'~'..,;:-:~:'itq"',;;;,",=_""~-'
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16
CITY OF OKEECHOBEE, FLORIDA
WATER AND SEWER SYSTEMS
COMBINED BALANCE SHEET
December 31, 1970
ASSETS LIABILITIES, RESER\~S AND RETAINED EARNINGS
$
7,462.73
4,780.37
TOTAL ASSETS
$
6,940.00
25,000,00
57,035.09
$
69,485.04
70,000.00
875000
2 , 68 2 . 36
11 , 085 . 91
$ 593,275021
352,904.77
38,287.43
5,431.85
$ 989,899.26
Long-Term Debt
Water and sewer revenue bonds, issued July 1, 1958
and maturing serially by years through 1988
Okcechobee County School Board - contract
Co Lo Walk - contract
Total Long-Term Debt
Current Liabilities (Payable from Restricted Funds)
Bond interest - due January 1, 1971
88,975.09
Current Liabilities (Payable from Curr~nt A8sets~
Accounts payable
Payroll and withholding tax payable
Okeechobee County School Board - contract
Co L. Walk - contract
Consumers deposits
Total Current Liabilities
Reserve Accounts
Revenue bond sinking fund
Depreciation fund
Total Reserve Accounts
154,128.31
Retained Earnings
Operating funds
Invested in plant, property and equipment
(including Federal grants of $71,160 and
contributions in aid of construction)
Total Retained Earnings
$1.233.002.66
TOTAL LIABILITIES, RESERVES AND RETAINED EARNINGS
~
$ 293,000000
26,408.63
.., 6,543.97
" $ 325,952.60
6,592.50
$ 5,258.39
1,807.58
1,000.00
2,580.03
22,216.76
32,862.76
$ 43,229024
39,873.35
83,102.59
$ 125,718.17
658,774004
784,492.21
$1. 233.002,66
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CITY OF OKEECHOBEE. FLORIDA
WATER AND SEWER SYSTEMS
COMBINED STATEMENT OF RETAINED EARNINGS
Y8r En1rd D,'c0f'1ber, 1, 1970
>0-
D0cluctions
Clwrf,e-nff of Clssct tr3ded
in prior year
Bond indenture requiremonts
Bonds retired
Int('rf's t
D,"prcci8tion (und
T,ltnl Deductions
RetainC'J Eornings - Dccc~ber 31, 1970
Andysis of Rctoinrcl Enrnings -
Dlcembcr 31, 1(17')
Net voter ond sewer revenues
Interest e8rned and retnined in
opernting fund
Contributions in aid of
construction (l958-1970)
F0c1erBl grelOts
Plnnt, IJrOpcrty one! equipment
hTi tten off
Bond indenture requirem0nts
Interest
Revenue bond sinking fund
Depreciation fund
Bonns retired
Utility service taxes retained to
offset revenue deficiency
TDtal
$723,851.81
Ol,erati ng
Fund s
$ 96,l96.70
InvesteJ
In Plnnt,
Property
Clnd Equipment
$627,655.11
$ 24,906.32 $ 24,906.32
4,13n.22 4,13l).22
6,39C.CJ5 6,39(.CJS
42,733.23 42,733.:23
(l7,577.30) $ 17 , 577 . 30
4 , en c, . '):) !.,O15.00
$ t2, 19U c 72 $ UO, j':!8. !.2 $ 2l,592.JO
$ 1,473.37 $ 1 , I. 73 . 3 7
$ 11 ,000. I)Q (ll,OOO.on)
13 , 680. )0 13,680" ')0
6 l 3 9 6 . w) 6 3960')')
$ '11,5)0.3') $ 3 1 , I) 7(, . 9 " $ ((I, 5/C. CJ)
$784,492021 $l2S,718.l7 $658 , 774.04
$588,462092
9,954.30
$ 83,728.88
9,954.30
$504, 73L..04
37,616.00
71,160.00
37,616.00
71,l60.00
(11,736.00)
(11,73(J)O)
(178,800_00)
(32,811 06)
(31,888.94)
(178,800.00)
(32,811 0 06)
( 51 ,888.94)
(57,000.00)
57,000000
332,534,99
332,53/..99
$784,492.21
$125,7l8,l7
$658,77/+.04
McALPIN. CURTIS & O'HAIRE. CERTlF"IED PUBLIC ACCOUNTANTS
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CITY OF OKEECIIOBEE. FLORIDA
WATER AND SEWER SYSTEMS
COMBINED STATE}lliNT OF SOURCE AND APPLICATION OF FUNDS
Year Ended D,'ccinbcr en, 1"70
>0-
Funds Provided
O~erating revenues
LWH'PSC in liabilities
$192 , 548 . 58
1,443.84
TntD1 Funds Provided
$193,992.42
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Funis Apf'licd
Operating expenses
Purchns(' of : 1ROt, rroperty and eqllipmpnt
Trl'l1s[cr to liSC8l agent for p<lY"1Cnt of
bonds and interest
lilcn'asc in othl'r nssets
Increase in aVDiloble cash funds
:'4,480.00
9':>2.20
713,739.7';
$116; 754.8l
23,065.67
Toto1 Funds A,'rlied
$193,992.42
McALPIN, CURTIS & O'HAIRE, CERTlF"lEO PUBLIC ACCOUNTANT.
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-====---,=:c-=-.:::::_~::'
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CITY OF OKEECHOBEE, FLORIDA
WATER AND SEWER SYSTEMS
STATEMENT OF CI~NGES IN RESER\~ ACCOUNTS
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Year Ended December 31, 1970
Total
Revenue Bond
Sinking Fund
Reserve Balances - January 1, 1970
Transfer of net operating revenue and utility service tax
Interest on investments
$64,700000
18,155.09
$82,855.09
$32,81L06
10,170.68
$42,981.7!~
Current YC[Jr
Addi tions
Bond indenture requirements transferred from revenue funds
Bonds retired
Interest
Interest earned on investments
Total Additions
$11 ,000 . 00
13,680" 00
4,139.22
$28,819.22
$11 ,000.00
13,680.00
2,037.50
$26,717.50
Deduc tions
Deposited with fiscal agent
Payments July 1, 1970
Bonds
Interest
Payment January I, 1971
Intrrest
Interest held in water and sewer revenue fund
Total Dcductions
$11 ,000.00 $11 ,000. 00
6,840.00 6,840000
6,592.50 6,592.50
4,139.22 2,037.50
$ 28 , 571. 72 $26,470.00
~t:3,102.59 $43,229.24
$ 5,500.00 $ 5,500.00
24,975.00 24,975.00
53 , 971.. . 54
(19,502.04) 2,583.56
18,155.09 10,170.68
$83.102059 $43.229.24
Reserve Balances - Dece!nber 31, 1970
Analysis of Indenture Requirements
Six months (6/12) provision for 7-1-70 bond maturity
Maximum principal and interest - due in year 1981
5% of gross water Bnd sewer revenues collected - based on
years 1958 to 1969 inclusive ($1,079,490.85)
Excess (deficiency) of appropriation of utility service taxes
Interest on investmcnt retained in fund
Total
$31,888094
7,984.41
$39,873.35
$ 2, 10L 72
$ 2,10L72
$ 2,101.72
$ 2,10L72
$39.873035
$53,974.54
(22,085.60)
7,984.41
$39.873035
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MCA.LPIN, CURTIS & O'HAIRE CERTIFIED PUBLIC ACCQUNT-\NTS
Depreciation Fund
(By Ledger Designations)
Reserve Repair
$21,100.00
5,601.95
$26,70L95
$10,035,140
1,938~62
$11,974.02
$ 2,101.72
$ 2,101.72
$ 2,101.72
$ 2,101.72
~26, 701. 95
$11.974.02
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$ 753.54 II
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20
CITY OF OKEECHOBEE , FLORIDA
WATER AND SEWER SYSTEMS
COMPUTATION OF DEPRECIATION FUND RESERVE REQUIREMENT
December 3l, 1970
,,",
The depreciation fund, according to the \,'atcr and sewcr revenue bond
indenture, "is to be equal to ,lt least five percent of the gross revenues actually
received or collected during the preceding calendar ye,n"" The cumulDtive compll-
tation has becn made as follows because there have been no disbursements from this
fund.
Bi lUngs & Uncollectible
Delinquent Written Off Uncollected Collected
YeAr Base Charges Net Adjustment Bilsis
..
1958 $ 51, 51,S. 64 $ (f:, 380.71) $ 43,167.93
1959 65,171 . 64 1, lSB . i'1iI 66,331).'+8
1960 68, h4t .,2 $ ( :-~ 8 II . ') 5 ) ( J 1 9. 7 (} ) 67,44/j.58
1961 78,1(-'7.16 C. , (.ll (J,:"70.25); 7 1+ , 6 2 3 . ') 1
1962 83,239.63 (969 if 2) 544.60 8 2 , 8 1 I, . b 1
1963 89,895.04 1+ 7 . If 5 (2,I,Cm 75) 87 ,443. 71+
1964 93, 28f+. 95 (26.50) (111.17) 93,l47,28
1965 100,354.!+6 (2,152.36) 98,202.10
1966 l03, 35/,.80 ('+03. 'J2) l02,b71.48
1967 116,835.69 10.20 (1,829.70) llS,016.l9
1968 120,136.75 353.58 120,489083
1969 128, "18.68 (279,76) l27,938092
$1,098 ,875.36 $ (1,815.72) $ (1 7 , 5 68 . 79) $1,079,490.85
Cumu L., ti vo Requ i re,;-tcn t ~t DC'cel'1ber ] 1 , 1 (!70 $ 53,974,54
McALPIN, CURTIS & O'HAIRE, CERTIFIED PUBI..IC ACCOUNTANT.
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CITY OF OKEECHOBEE. FLORIDA
WATER AND SEWER SYSTEMS
AND BOND INDENTURE REQUIREMENTS
CONBINED STATEHENT OF REVENUES. EXPENDITURES
Y,'<:'r Ended D.'ce"'11wr 31, l'J70
"
Total
Revenues
Water
Sewcr
Topping fees
Interest on investments
Miscel1ancous
Total Revenues
$115,438.63
21,861-1.10
4,01',.00
3, 5C):) . no
85(,.40
$145,67(.13
ExpenditurL's
S<1laries and \vages
Chcl:1icDls
Electricity
Truck expense
Meter repairs
Other repairs and maintenance
Pipe and fittings
Tools and supplies
Water tank servicing
Office supplies
Social security
Insurance
Audit fee
Provision for uncollectible accounts
Miscellaneous
Property, plant and equipment
To t<11 Expend i tu n' s
$ 62,171.56
2l,k-\l'-J."7
<:J,25(;.l0
3 , 368 . 1 7
8l7. '15
4 n . l!~
liJ,4'-J7.b6
11,430.02
600. 'lO
2 , 7 ()r . 78
2 , 71~ . 18
1 , (,49 . 72
1,000.00
902.65
l,331.8l
7 , 797 . !~ 2
$ 138 . 3!+ 7 . 11
Net Operating Revenue
Net Capital Expenditures
I I
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Current YeAr Bond Indenture Requirements
Bonds retired
Interest
Depreciation fund
Deficiency to be Provided From
Utility Service Tax
Utili ty S,'rvicc Tax C(Jllec tee!
Excess of Operating R,'venues and Utili ty Service TC'x
Over Bond Indenture Requirements
Capital
Ou.l: ,:
"
$ 4,015.00
$ 4,Ol",')0
$ 3 , 4 'J 1. 00
343.90
9,447.90
5l2.08
7 , 7 () 7 . Ii 2
$ 21,592.J!)
$ 17. 577. 30
$ 11,000.00
13,680.00
6,396.95
21
Operating
$115,438.63
21 , 8 68 . 11)
3.500.00
8)4.40
$141,C61.13
$ 58, 680.56
2l,b19.c',7
9,256.l8
3,02(,.27
r17.35
478.1!1
1,0(,9.76
10,917.94
600.00
2,708.78
2,71E.l8
1,449. 72
1,000.00
902.65
l,33L8l
$l1G, 75t,,( 1
$ 24,906.32
Ii
(17,577.30)
(31,076.95)
ii
$ ( 2 3, 747 . 93) Ii
42 , 73 3 . 23 i!
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$ 18.985.30 I
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McALPIN, CURTIS & O'HAIRE, CEFlTlF"lED PUBL.IC ACCOUNTANT.
22
CITY OF OKEECHOBEE, FLORIDA
WATER AND SEWER SYSTEMS
COMBINED STATEMENT OF REVENUES AND EXPENDITURES - BUDGET COMPARISONS
Year Ended D,'cember 31, 1970
,,",
Revenues
Water
Sewer
Utility taxes retained
Tapping fees
Interest on investments
Miscellaneous
TJtill R('venues
Ex;)(>nd i tu r l' S
Salaries and wages
ChemicD1s
Electricity
Truck expense
Heter repairs
Other repairs Dnd maintenance
Pipe, fittings, tools and supplies
Water tank servicing
o L tice supp lies
Social security and insurance
Audit tee
Miscellaneous
C()ntingencics
Bonds retired
Interest on bonds
Depreciation fund
Equipment - capital expenditures
New meters and boxes
NeH extensions
Provision [or uncollectible accounts
Total Expenditures
Excess of Revenues Over Expenditures
Actuol
Budget
ActuCll
Over (Under)
Budget
$11'3,438.63
21 , R 68 . 10
42,7:n.:U
L. , en:, . ')0
7,63G.22
8 5t, .1,0
$l92,541::..5H
$100,000.00
20,000.00
38 , 00f) . :)0
2,500.00
2,80n.oo
$ 15,438.63
1,868.10
4,733.23
1 , 'j 1 .00
4,;:'30.22
( ',!t . !,O
$ 29, 248 . 51::.
$163,300.00
$ 58, 6E,1. 56 $ ( 1 , 89 j . :)0 $ ( 3 , 212 . 4!, ) "
21, 81LJ , 1,7 20,000. ')0 l,81'l.'.7
9,256.1K 8,()()O.00 1,25L1~
3 , f) 2 I, . 27 3,400.00 (3 7'1. 7~)
i 17 35 1,500.00 ( 68 :' . h ') )
47f..14 '17'c .1 /{
11,967.70 20,000,,1)0 (8,032.3U)
f()().JO (JO() . ')0
2 , 7)1- . 78 3,001).00 (291. 22)
4 , H 7 . 90 5,720. f)() (1,552.ll))
1 ,000. I)() 75(). ')0 250.00
l,331.81 l, 331. ,'ll
3,257.00 ('3,257.)f))
11 ,000. )1) 11 , O()O . f)()
13,(13:'.50 13,680,)0 (:.U.7.51:)
6,396.95 1,0()0.OO 5,396.Cl
1,395.18 5,000. ()O (3,604.1-::' )
5 ,828 . t. 5 4,000.'10 1 , I::. 2R . 'I 'j
11. , 368 . 67 500.00 13 , 8 68 . 67
902.6') 902.6~,
$169,176.56 $163.300000 $ 5,876.')6
$ 23.372.02 $ 23.372.02
McALPIN. CURTIS & O'HAIRE, CERTIF"IED PUBL.IC ACCOUNTANTI
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CITY OF OKEECHOBEE, FLORIDA
WATER AND SEWER SYSTEMS
STATEMENT OF PLANT, PROPERTY AND EQUIPMENT
Decembpr 31, l'Jr)
,,",
Plant, Property and Equipment
Water plant
Welter tanks
\.Jater plant storage buil"ling
Woter meters and boxes
New \vater mains
Department trucks
Fire hydrants
Melchinery and equipment
Olficc ('quipment
S,'wcr plant Lmd
Spwcr trcntment ~lant
Nvw sewers i1nc1 manholes
Spwer lift stations
Source of Funds Inv0st0~
Proceeds [rom outstanding bonds
Tapping lees sinle 1958
Water line extensions paid for by
othf'rs - to be purchased by City in
subsequent y'~'ars
Net operating revenue and utility
service tax - ad1itions less
assets troded
R, nds retired
Funds Availoble [or RepAir, Replacemf'nt
and Construction
Depreciation lund
As required by indenture
Excess (deficiency) on appropriation
o[ utility service taxes
Accumulated interest on investments
BC'lance
Jl1nu!Jry l,
1970
$256,683.45
29,3/.0.27
5S0.<)()
42, (-175.44
236,172 98
6,82/.37
1,301.65
36 , f '2 1 . '.3
5,1:,1, . nO
2,29d.'JO
7l6,13C.52
11),71 .97
l8,762.28
~968. JOE. <J6
$304,0()().110
33,6Ul.rJO
36,651.85
548,054.11
46, I)OC) .J!)
$ 968 , 3 () 6 . %
Net
Additions
$ 5 ,828 . /. 5
III , 368 . 67
(35t .1)7)
1,466,00
2F 7 . 75
$ 21.592.30
$(11,000.1)0)
4 l en 5.00
17 , 577.30
ll,OOO.ilO
$ 21.592.31]
23
Bolance
Dpcember 3
1970
$256,683.4
29,340.2
550.Q
48,303.b
250,541.(:
6 , 464 . 3
l,391.E
38 , 2b 7 . /,
5,431.t
2,290. '
2l6,136.'
115,715.l
18,762.:
$989,899.:
$293,000.(
37,616,1
36,651.:
565,631.
57,000.
$ 98 9.899.
$ 47,577.59 $ 6,396c95 $ 53,971, .
(15,688.65 ) (6,396.95) (22,085.
7 , 98/, . 1+ 1 7 ,98/, .
$ 39.873.35 $ - 0 - $ 39,873.
The bond indenture provides that "withdrown1s 3nd disbursements may be mal
from the depreciation fund upon orders of the City Cl1uncil for the purpose of l11C('til
speciAl or unforeseen emergencies, or repAir or replacement work in connection with
the operation of the water and sewer system, and for the payment of the cost of con
structing extensions, improvements, betterments or additions to the system".
McALPIN, CURTIS & O'HAIRE, CERTIF"lED PUBL.IC ACCOUt
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24
CITY OF OKEEcIIOBEE, FLORIDA
SCHEDULE OF WATER AND SEWER REVENUE BONDS AND
INTEREST TO MATURITY
December 31, 1970
'!" ~ "--:
Water anrl Sewer Revenue Bonds
Bonds tor the construction of a se'''Clge ci,llection system Clnd disposDl plant
and water and sewer expansion program are dated Jllly 1, 1958. They bear interest at
the rate of 4-1/2%. The bonds Clnd interest arc secured by the gross revenues from
the water and sewer departments less reasonable current expenses of operation and
:TILlintennnce. Allor <3 sufficient dIT10unt of the proceeds of the utility service tax
as may be needed to provide CJdequate reserves arc plerlged ~lso for this purpose. The
originCJl issue was $350,000. The bonds and interest arc p3yable thruugh the water
And sewer revenue bond sinking fund.
Yr>['r Ending Dccenhc>r II
Bond
M;turitics
T,)tn 1
A 1\ 11\H! 1 I n t ere s t
(Pnynent Bnsis)
Total
Requirements
1971
1972
1973
1 C) 7/+
1975
1976
1977
1.978
1979
1 '180
1 9~ 1
I ')0 2
1'.183
1984
1985
1986
1987
1988
$ 11,000
l2,000
12,000
l3,nOO
13 ,0l)O
14,000
15,000
15,000
16,001)
17,000
U ,00)
ld,OOI)
19,000
2il, ():)O
21 , ()OO
22,000
23,000
14,000
$ 13,l85
12,690
17,150
11, (JIO
11,025
10,440
9,810
9,135
8, /,60
7,740
6, (17 'J
6,l65
5,355
4,500
3,600
2,655
1,665
630
$ 2LI,185
24,690
2/+,150
24,6l0
24,025
24,440
24,810
2!+,135
24,460
2L+,740
24.975
24,l65
21+,355
2!1,500
2!. , 600
24,655
24,665
11,,630
$293.000
$137.790
$430,790
McALPIN. CURTIS & O'HAIRE. CERTIF"lEO PUBL.IC ....CCOUNT....NT.
25
CITY OF OKEECHOBEE , FLORIDA
STATISTIC^L TABLES
ASSESSED VALUE OF ALL TAXABLE PROPERTY
TRX Rolls For Yeors 1961 Throu~h 1970
YeIJr
,,",
R,'nt' P"rsonpl Home s t C' [1'.1
Prol'0r !y Propcrtv Total Exemption
$lO,6l2,610 $ 2,279,271 $12,891,881 $ 2,868,200
10,276,(Jl5 2,l20,593 12 , 396, 608 2,680,735
9,564,155 2,SlO,451 I 2 , () 7 I, , 6 U 6 2,633,660
9 ,I. 5 5 , 2 2 0 2 , 488 , I, 38 ll,q l,658 2,659,495
2,70,370 506, c 1:) 3,2()7,8bO 2,()()'3,90U
2,671,')20 495,225 3 , 116 , 2/, 5 1,(j13,550
2,489,050 523,203 3 , (Jl) , ') 5 '3 1 ,828,900
2,263,8)5 5li',59S 2,77(-',,400 1, 770,900
2,O3~,470 1.71,390 2,51<l,860 1,638,1.00
1,7hC,765 !, 3') , 3 6 5 2,2l7,130 1,';1,),7')()
1970
1969
1968
1Y67
1 %6
1 'it: 5
1 '!6 1+
1 %3
1962
1961
Tax Lc\'y clOd App lic CiblC' RC1tes
Levies Ri1tcs
Debt Generi:ll
Debt Gpnprnl Service Government
Yl'['r Service G()vernment Mills Mills
1<J70 $31,52U.l6 $77, l')l. 29 2 6
1969 29,868.70 61 , 268 . F) 2 5
1968 29,Q6.54 60, 1411 . 93 2 5
1967 29,206.30 59,7U.30 2 5
1Q66 31 , (=, '\ I. (,8 1,5,7''1.1,2 (, l/~
1965 30, l7(- . 77 4 3 , en . " '3 6 1/,
1 YM 29,O5l.71 42,182.7) 6 1 /~
1963 27,295.00 38,863.CO 6 14
1962 24,895.56 35,136.04 6 14
1961 22,366.98 31,039.82 6 14
The vClluations are established as of Januory 1 of each year, being the
base of computing tax revenue levies for the City's accounting year ending December Jl.
Tax bills are not sent out until the following November. Consequently, the annual
operC1tions of the City are largely financed by prior year surplus or other revenue
funds until November, when the first collections are received on the assessment roll.
MCALPIN, CURTIS & O'HAIRE, CERTlF'lED PUBLIC ACCOUNTANT.
I
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CITY OF OKEECHOBEE, FLORIDA
26
STATISTICAL TABLES
OTHER GENERAL FUND AND WATER-SEWER REVENUES
Years Ended December 31, 1961 Through 1970
Revenues - Other Than Property Taxes - General Fund
Franchise Interest Qualifying
Cigarette Fines and Building Occupational Florida Power and Telephone Rezoning Interest Dog Pound Election Garbage Misce1-
Year Tax Forfeitures Permits Licenses and Light Advertising Commissions Charges on Savings Fees Fees Fees 1aneous
-
1970 , $137,369.11 $27,346.53 $3,019.50 $8,446.76 $21,012.19 $295,41 $ 89.83 $ 2l.0. 00 $8,331. 00 $472.00 $275,00 $385.00
1969 116,597.18 31,670.20 1,285.00 7,605,,38 19,167.08 98 2 . 8 9 99027 160,00 4, 581. 00 l51. 00 523.00
1968 103,969.03 9,317.39 1,916.50 8,082.27 16,566.53 134. 63 100.18 60.00 4,546.37 33ll.50 189.28 189.28
..
1967 85,110.05 l6,093.19 1,716.80 7,317.27 15,880.21 450.79 55.48 l60.00 3,357.66 153.00 $ 218.24 106.00
1966 81,495.71 19,014.85 1,288.50 6,999,31 l5,069.39 7.42 120.03 100.00 1,320,90 1 54 , 00 240.00 271. 20 579,44
1965 71,638.59 15,540.45 1,386.24 6, 5l.9. 08 14,686.39 62.03 112 . 1.5 280.00 1,248.52 198 . 00 125.00 1,000.00 228.67
1964 67 ,87lj. 62 14,632.70 1,882.75 6,539 r)2 V..., 5% . 69 52.'27 63.l7 200,00 1,237.90 25.50 150.00 (Franchise) 638.10
1963 59,906.57 15,715.00 1,172.95 6, 96 '2 . 10 13,660.98 63.56 90.32 200.00 l,067.33 82.50 110.00
1962 42,408.54 9, 118 . 35 6,67ti.50 10,870.66 30.63 69.20 120.00 581. 16 46.50 450.00 100.00
1961 43,984.07 6,917.80 6,832.18 9,589.68 23.02 98.12 200,00 265.74 69.50 183.00
Water and Sewer System Revenues
Connection
Sewer Interest Charges Utili ty
Service Water De linquen t Miscel- on (In Aid of Service
Charges Billings Charges 1aneous Savings Construction) Taxes
1970 $ 21 , 8 68 . 10 $115,438.63 $164.00 $690.40 $7,639.22 $4,015.00 $42,733.23
1969 22,152.00 105,8B9.68 1 77 . 00 101.00 4,139.22 2,050.00 38,6l0.54
1968 21,131.11 98,672 . 14 333.00 10.20 2,588.47 3,2l5.00 33,802.29
1967 21 ,346.11 95,39u.58 90.00 829.19 3,5M..51 2,755.00 30,832.21
1966 19,960.89 83,l91.91 202.00 682.30 3,394.93 2,490.00 29,927.54
1965 20 ,l.84. 46 79,754.00 116.00 123.83 3,054.89 2,390.00 28,542.14
1964 19,270.60 73,924.35 90.00 29l.86 2 , 92 9 . 08 2,980.00 27,537.95
1963 18,4l1.79 71,365.25 118 .00 lOl. 90 2,843.91 4,620.00 27 , 258 . 12
1962 17,051.23 66,110,40 78.00 308 . 77 1,977.10 3,705.00 24,145.29
1961 16,333.56 61,777.60 76.00 l2.42 900000 4,000.00 23,019.02
Water Water Water Total
Meters in Meters Meters Non- Wnter Unmetered Sewer
~ec. 31 Operation Cut Off Ol-'crative Mpters Customers Connections
1970 1,513 lO7 1,620 21 313 ,j i,.
1969 1,440 85 8 1,-.33 24 309
1968 1,374 170 4 1,548 25 305
1967 l,297 168 11 1,476 23 301
1966 1,190 16.5 76 1,411 37 298
1965 1,180 139 35 1,354 49 289
1964 1,169 132 11 1,312 43 279
1963 1,079 77 48 1,204 40 276
1962 966 75 27 1,068 55 257
1961 906 56 17 979 66 2l.0 I
I
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....-... -....... CURTI S '" O'HAIRE CERTIFIED PUBLIC ACCOIIN"""'TCC