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FY 1960 Audit Report HAYOR: COUNCHMEli! : ATTORNEY: CITY CLERK: AUDITORS: :.- AUDIT REPOR.! ~ER 3~ 196Q CITY Q!. EDGEHATER. ]LORIDA Crawford C. Shaeffer George V. Beck Stanley A. SengI Sr. Reeves P. Smith, Sr. Dana T. Armstrong John E. Chisholm Frank F. Dippery Genter and Batten LlLr... E X OCTO~Er{ 31. 1960 --___._____...f!Jy OF E~GEv]ATEP~ FLO~IDA EXHIBIT \I A a EXHIBIT If B II SCHEDULE liB_I" SCHEDULE "B-ZIP EXHIBIT II C " EXHIBIT II D " EXHIBIT a E II EXHIBIT " F II EXHIBIT II G " EXHIBIT II R " EXHIBIT " I II EXHIBIT " J It EXHIBIT n I( u EXHIBIT II L II EXHIBIT II 11 II EXHIBIT II N Ii EXHIBIT II 0 " DESCRIPTION PAGE NOe Certificate 1 Comments 2-8 Consolidated Balance Sheet 9 Balance Sheet - General Fund 10 Tax Sale Certificates 11 Fixed Assets - General Fund 12 Cash Receipts and Disbursements - General Fund 13-14 Estimated Revenue - General Fund 15 Budget Appropriations - General Fund 16-18 Consolidated Balance Sheet - All Water Funds - Year Ending October 31, 1960 19 Consolidated Balance Sheet - All Hater Funds - Year Ending Octcc~r 31, 1959 20 Balance Sheet - Water System Revenue Fund 21 Balance Sheet - Operation, Pdintenance and Repair Fund 22 Balance Sheet - Water Revenue Certificates Principal and Interest Slnking Fund 23 Balance Sheet - Reserve Fund 24 Balance Sheet - Depreciation Fund 25 Cash Receipts and Disbursements - Water System Revenue Fund 26 Cash Receipts and Disbursements - Operation, Haintenance and Repair Fund 27 Cash Receipts and Disbursements - Water Revenue Certificates P~incipal and Interest Sinking Fund 28 EXHIBIT fl P II EXHIB IT \1 Q !! EXH.IB IT It R H EX_IHB IT II S " EXHIBIT I! T II EXHIBIT II U II EXHIBIT II V II EXHIBIT II H II INDEX OCTOBlill.-.l!.J__1J"&Q -_._---f.ll'X. O~ EDGJ2FM'E!i~ c FLO~IDA __.~___._._~__ DESCRIPTION PAGE NOo ;wo................u ... ... _ Cash receipts and Disbursements Reserve Fund 29 Cash Receipts and Disbursements - Depreciation Fund 30 Estimated Revenue aud Budget Appropriations - Water System Revenue Fund 31 Estimated Revenue and Budget Appropriations - Operation, Maintenance and Repair Fund 32 Estimated Revenue and Budget Appropriations - Water Revenue Certificates Principal and Interest Sinking Fund 33 Estirr~ted Revenue and Budget Appropriations - Reserve Fund 34 Income and Expense - Water Fund 35 Cash Receipts and Disbursements - Community Center Fund 36 GENTER AND BATTEN CERTIFIED PUBLIC ACCOUNTANTS l1aY.. VOLUSIA AVENUE DAYTONA BEACH. FLA. MeMBERS FRANK M. GENTER. C. P.A. ALFRED E. BATTEN. C. P. A. AMERICAN INSTITUTE TELEPHONE CL 2-6101 AND FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS AMERICAN ACCOUf'JTING ASSOCIATION December 10, 1960. To The Honorable Mayor and City Council, City of Edgewater, Florida. Gentlemen: We have e}~amined the balance sheet of the City of Edgewater, Florida, as of October 31, 1960, and the related statements of income and surplus for the year then ended. Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of accounting records and such other supporting evidence as considered necessary in the circumstances. In our opinion, the accompanying balance sheet and related statements of income and surplus fairly present the financial position of the City of Edgewater, Florida, at October 31, 1960, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Respectfully submitted, @~~J~-t;) GENTER ~ B{fr~# EC:dk 2 Q.JLtL H E li_!2 Our comments on the items in the Consolidated Balance Sheet, Exhibit "A", follm.J 1.n the orael" of their appearance therein: ASSl1,TS CASH_QlL1}~m gill_gL~~..::..~55, 857.36 Cash on hand uas verified by actual count. All bank accounts are in the Bank of Heu Sm.yrna, Ne;;.] Smyrna Beach, Florida, and 1;'le~:'e verified by recon- ciling the bal.~nces sho;:-m on the books \-lith those shmvn on the bank statements and by dh'ect communication ,'lith the bank. To guarantee accounts of the City in excess of $10,000.00, the bank has placed $70,000,00 u. S. Treasury Bonds in escrov.7 as follo1;'lS: $60,000,00 U. S. Treasury Bonds, dated 2/15/54, due 11/15/61 $10,000.00 U. S. Treasury Bonds. dated 6/15/58, due 2/15/65 p. s. CEP~~[\Ci~ES OF IN~~~TEDNESS - $181000.00 In accordance uith the ordinance covering the issuance of the Water Revenue Certificates, the City created the required IIDepreciation Fund" and deposited therein $18,000.00. This uas invested in direct obligations of the United States of America. At present this investment consists of $18,000.00 Certificates of Indebtedness, Series C. due August 15, 1961, bearing interest at the rate of 3 1/8 per cent per annum, payable semiannually 0 This fund is to insure the City's having sufficient monies to pay the cost of necessary, unusual, or extraordinary maintenance, repairs, renewals and replacements to the system whkh are not inc1udedin the annuel budget. It may also be used to puy the cost of constructing additions and improvements to the system which will enhance its revenue producing capacity, or to provide a higher degree of service, or to supplement the Sinking Fund should a deficiency arise. 3 ~kES :_~2~q.t~3.18 The outstanding tax sale certif.icates total $791.13. These are for taxes p~ior tc 1951, at which timG the County assumed all tax assessments and collections. Lot cleaning liens in the amount of $105.05 from prior years are still outstanding on the books. There was no change in these accounts during the yea:::, During the year the City paved Flagler and Rhode Island Avenues and installed side\valks and curbs on Park Avenue and assessed the property owners adjoining these improvements a portion of the cost of the paving and all the cost or installing the sidewalks and curbs. The mortgages receivable, in the amount of $769.32, represent two mortgages given to the City by property 0W11ers who wished to pay their assessments in installments. Both of these mortgages are payable in fhre annual installments vlith interest at 6 per cent per annum. The paving accounts receivable, in the amount of $466.23, are uncollected assess- ments due from Flagler Avenue property ovmers. The water consumers' accounts receivable, in the amount of $1,311.45, were checked in detail and found to be in balance with the general ledger control. FIXm;L - ~llid.!?9 5 . 3~ The fixed assets represent the capital assets of the City. A reconcil- iation of the account is as follows: General Fund Balance as per Audit - November 1, 1959 $189,591.98 Add: Road Machinery: H.ower Grinder Small Equipment Office Equipment: Typewriter Planter and Signs Street paving $ 68.88 149.85 49.35 $ 268.08 $ 202.50 41. 30 243.80 9,787.41 Police Department Equipment: Ford Police Car Police Car Equipment Fire Department Equipment: Hose Timer Clock Hand lights Extinguishers Rope Community House Improvements Community House Equipment: Sink Heaters Dump Property Communications System* Picnic Area Municipal Park and Pier Total Additions Deduct: Equipment Sold to Water Department: Accounting Machine 1959 Chevrolet Truck 'Total Deductions Net Additions to General Fund . $2,089.50 _lli,,27 $ 705,,60 50.,00 36..19 24.,20 14..07 $ 199.80 96.50 $2,750.00. _~41O<56 $ 2,350" 77 830,,06 162.00 296..30 1,490.25 200.00 664..36 1,491.44 $17.. 784.47 5,,160..56 TOTAL FIXED -. GENERAL FUND - OCTOBER 31, 1960 Water Fu~<t Balance as per Audit - November 1, 1959 Add: Accounting Machine 1959 Chevrolet Truck Line Extensions Total Additions to Water Fund $ 2,750.00 2,410.56 3. 085 ~l TOTAL FIXED TOTAL FIXED - WATER Fm~D - OCTOBER 31, 1960 ~ 12..623.91 $387,433.05 8.246.39 4 $202,215..89 ~395..679.44 $597,895.33 *The addition of the communications system. in the amount of $200.00, when they are paid for" represents only the cost of installation. The cost of the units will be added IJ:1VEN1;PR1'-~dUAl:.S --i?.~ 0/;.2.90 This inventory represents nmterial and supplies of the water department on hclnd at the end of the fiscal year.. The inventory l~as taken by the City employees and accepted by us without detailed verification. 5 :tvmTilLP Bf!)S I':C,-=-.j,f 0... 00 This deposit is made by the General Fund to the Hate!~ Fund to guarantee payment of the Hater account. 1_l_A.JL.1...1..U._l...K_~_ AND_._~ U If..J:.JL.2. hf~~lU.AX.@LE...':....2U16. 19 As the City operates on a cash basis the accounts are not set up on the books until approved by the City Council at open meeting and paid. They are, however, Bet up on the balance sheet so that the fair financial position of the City will be reflected by this audit. Included in the accounts payable is the $1, lSLL:.2 o'Wed to the Communications Co. on the purchase of the communications system, CON~~AB1~f~_g~._- $1,L~67.!&. This is the balance due the General Motors Acceptance Corporation for financing the purchase or the 1959 Chevrolet Trash Truck and the 1959 Chevrolet three-quarter-ton truck purchased during the previous year. The monthly payments on the tivO contracts total $252.64. PAYROLL W~AYABLE - $285.72 The above item represents income and social security taxes withheld from employees wages and is due and payable in January, 1961. METE,!t DEPOSITS - ~8~948.30 These deposits were made by water consumers to guarantee payment of their accounts. ~Vhen the accounts are closed and the bills paid, they are refundable to the consumer. \~ATER R.EYEtlUE fIfRTIFIC.trr~~ - .$.~Q.O c 000. pO On H.,,:cch 3rd, 1958 the City passed a resolution authorizing the issuance ox $4.00,000.00 in Hater Revenue Certificateso The purpose of the issue was to provide fer the acquisition, construction and establishment of a municipal water 6 works system. The certificates are dated February I, 1958, in the denomination of $1,000.00 each, numbered consecutively 1 to 400 inclusive. Said revenue certificates shall bear interest at the rate of four and three~quarters per cent per annUQ. or such lesser rate or rates as may be fixed by supplemental resolution or ordinance adopted at the time of the same and award of the certificates, lvhich interest shall be evidenced by coupons attached to said certif.icates and shall be payeb 1e August 1 1958, and semiannually thereafter on February 1 and August 1, ~'- , of. each year, and said revenue cei.'"tificates shall be scheduled to become due and payable in nume.j~ical order on February 1 of the respective years, as fa llo"t-!s ; r.IJl.TURITY AHOUN! MATURITY AMOllN'l;, 1961 $ 7,000.00 1975 $ 14,000,.00 1962 8,000.00 1976 14. ,000. 00 1963 8,000.00 1977 15,000.00 196L~ 8,000.00 1978 16,000.00 1965 9,000.00 1979 16,000.00 1966 9,000.00 1980 17,000.00 1967 10,000.00 1981 18,000.00 1968 10,000.00 1982 19,000.00 1969 10,000.00 1983 20,000.00 1970 11,000.00 198L~ 21,000.00 1971 11,000.00 1985 22,000.00 1972 12,000.00 1986 2"3,000.00 1973 12,000.00 1987 23,000.00 1974 13,000.00 1988 24,000.00 TOTAL $ 400,000.00 Provided, however, that said revenue certificates numbered 41 to 400, inclusive, from time to time outstanding, shall be subject to redemption by said City prior to maturity in whole, or in part in inverse numerical order on any interest pa~uent date on or after February 1, 1965, upon terms of par and accrued interest plus a redemption premium in an amount equal to one-quarter of one per cent of the principal amount thereof for each year or fraction thereof to elapse between the date fi~{e.d for such redemption and the final maturity date of the respective certificates, but ,'lith a rnmdmum redemption premium of a.n amount equal to four per cent of such principal amount. Both principal and interest shall be payable 7 at the main office or the Bank of NeH Smyrna, in the City of Ne~v Smyrna Beach, Florida, or, at the option of the holders of the respective certificates, at the main office of the Chase J"anhattan Bank, h1 the City of Ne'\V York, NeH York. SURPLUS -..~~6~~Q2J;.:;.b,.O The surplus represents the excess of the City's Assets over the City3s Liabilities as shown on tha balance sheet, G ,ULILR A_1 Exhibit liD, II the Estimated Revenue Statement of the General Fund ShOHS revenue was estimated at $81,753.00 Hhile collections totaled $97,198055, including $12,219.66 appropriated surplus, or collections in excess of estimate of $15,l~45.55. The Budget Appropriations Statement of the General Fund, Exhibit IIE,1f shows budgeted expenditures of $81,753.00, actual expenditures of $77,955.26, or an unexpended balance of $3,797.74. The Income and Expense Statement of the Water Fund, Exhibit "V," reveals total income from operations of $33,645.40, operating expenses of $12,636058, or net income from operations of $21,008.82. Utility Taxes in the amount of $18,063.45 were deposited in the Water Revenue Fund in accordance with the Ordinance covering the issuance of the certi- ficates, The City has 854 water meters in operation at this time. 3/4-inch meters 837 l-inch meters 15 2-inch meters 1 1 1/2-inch meters 1 TOTAL ~ Tk,- General Fund has 63 fire hydrants for t...hich it is paying the Hater Fund $50000 each per year.. Insurance coverage on the Water Fund plant and equipment is as follows: Insm-or - A.gent; PoLicy Nturl>er ~ Period: Coverage- P.roper~y Covered: hE'~ $26,000000 9,250.00 :":6,000..00 L..OO..OO 500.00 2,000.00 3,000.00 .' o Tbe Homf: Insur<:mce Company Toxey t\'11ir81::e1:, Neloj Smyrt:3 Beach; ~Florid;i 1212 August 18, 1960, to August 18, 1961 Fh.-"" :....i.::;ln tl ing $ ixtended COVEr age) \] and<':\ltmn and Malicious HischiE.f Descri:2.~ On elevated stee.l \vatEr tank situated N/s E.. Park AVEnuE., Edge..later, Florida.,. On AAA I.Ulter treatment. plant outlding situated N/S E, pa.rk Avenue, Edgewater, Florida. Machinf~ry and Equipment while contained in Hater treatment plant. rCM Pump House No _ 1 s Huated approK1-mate ly 2 miles Wn of R. R. at Edgewater well field. ICE Pump House No. 2 situated approximately 2 miles W, of R. R. at Edgewater well field. Machinery and Equipment while contained in Pump House No.1. Hachin€::ry <.l.ud Equipment wh:Ue. conta.:ioe.d tn. Pump House No, 2. All funds require.d by the Ordinance covering the issuance of the certificates haVE he en op~ned and are being maintained in accordance therE:-to., ,- CON SOL 1 D AJ E D ..]_A J.. A NeE S H E~ E T O~:[PBE~ 11,- 196Q. __._..___~~.___..slT:'LOF _EDGEWAtER. FW!UD{1 ASS E T S ~?Ji...Q.li..RAND J..ND .~!l'LJl.41f& Petty Cash Cash on Hand Bank of New Smyrna: General Fund Revenue Fund Operation. Maintenance Sinking Fund Reserve Fund $ 10.00 880. 78 $16,433.95 13,777.30 3,029.35 18,225,98 3.500.00 and Repair Fund _ )4.966.~ $ 55,857.36 u" ~~ CERT!EICATES~~!llPEBTEDNESS - DEPR~QXATIQ~FUND 18,000.00 ~li&~ "... r. .o,,:.,~.' General Fund: Tax Sale Certificates Lot Cleaning Liens Mortgages Receivable Paving Accounts Receivable Water Fund Consumers' Accounts Receivable $ 791. 13 105.05 769.32 466..23 $ 2,131. 73 t.311.45 3,443.18 fiXED General Fund - Schedule 1!}3..2" Water Fund - Exhibit "Hit $202,215.89 395.679.44 597,895.33 INVENTORY OF MATERIALS - WATER FUN}) 2,042.90 ME1ER DEPOSIT - GENERAL FUND 20.00 TOTAL ASSETS $677 ,258., 77 \, 9 L I A B I LIT I E S AND SUR P L U S hCC01mT~ PAYA121JL~RDED $ 2,536,19 CONTRACT~ PAYAB~_ - GoM.A.<;L 1,467.16 PAYROLL TAXE~_4~ 285" 72 HETER DEPOSITS 8,948.30 WATER REVENUE CERTIFICATE~ 400,000.00 SURPIJlli. 264,021.40 TOTAL LIABILITIES AND SURPLUS $ 677 ,258.77 EXHIBIT II A II ~_~ L ~~i...1i_,C E ~I~~:-l E-....~...:t .Q.QIQBE.B...)J.z. 1.~(;Q. GE~EP::.~.J:._f.m:!D 10 CITY OF EDGEWATER FLORIDA _c~_____ __..______.___~.__._ _~__ _ .___________.__________~__ A...S S E T.2, CASH ON_J.IAI~.Q...J)N)) nLBANK~ Petty Cash Cash on Hand Bank of Neu Smyrna. REQ..1UV ABLE~ Tax Sale Certificates~(Schedule IiB-l") Lot Cl~a.ning .Liens Mortgages REceivable: D< W, Ga.rrell poland and Bro~a Pavipg Accounts Receivable Transfers - Water Fund E.i.KED _:" ( S CH.JiillI.LE "B - 2 " ) HET~!Lj)ERQSIT TOTAL ASSETS L I A B I LIT I E.2_ .AND A.c,COUNTS P i\YABg CQNTRACTS PAYABLE - GoMA\1:.9.. SOCIAL SECuRITY TAX-?AYABLE WITHHOLDING TAX PAY~ SURPLUS Surplus - November 1, 1959 Add: Excess of Colle.ctions Over Expenditur,es Fixed Assets Acquired Payments on GoH.AoC"Contracts Recorded Mortgages and Acco~nts Receivab le 1959 Accounts Payable Deduct.: 1960 Accounts Payable Assets So 1d Pa)~~nts Received on Hortgage PRESENT SURPLUS TOTAL LIABILITIES AND SURPLUS $ 360.00 4.09 < 32 ---- $ 10. 00 551021 _~_16.~.ll. 9S $ 16,995,16 $ 79 L 13 105.05 769.32 L}66.23 _._~487.31 SURPLUS $ 7,023.63 17 , 7 8t" . If 7 3,031. 78 $ 196,529.03 3,156.35 1 , 34 ~ . .?Q ___.&337 ..:1l $ 228,866.76 $ 2 , M1L~ . 19 5,160.56 _~~o . __~.1..18[,~ '.">"j-r-r, YIP'f' " .., ft 5,619<04 202> 215.89 20.00 $ 224.,850.09 $ 2,484.19 1,467.16 90.43 126.30 220.,682 01 $ 2.24.,850.09 YEAR 1925 1926 1927 1928 1929 1930 1931 1932 1933 1931:. 1935 1936 1937 1938 1943 194.4. 1945 19L:6 1947 1949 1950 Tli_~ SALE C.ERTIFI.f..J2T!L~ OCTOBER .11~ 196Q __CITX_QL1illG'EvJATER. F,LORIDA_ TOTAL SCHEDULE " B-1 II li A110UNT $ 41.57 200.07 13 7 0 00 77 ,54 12.92 76.58 12.44 26.48 133.70 2.62 12.37 2.74 6,.26 4.67 17.28 12.64 7.45 1.43 1.13 1.31 _2.93 $ 791. 13 ---- "? 1._ .Ll..LK.JL~. s S E~ Q.g::m.:tlI;:r~.?1., 1960 ~EBgg,AL FUND _.______._~_ CI1.X._9E EDG~HATE&.....nQ1llJ1!L-__~_ ITEM AHDUNT --- lWAD 11!\CHI~ERY $ 3b,. 719 . 02 FURNI'llJRlLhm2 FIXTUR~ 6,989080 MAPS 80,00 ~EAL EST!I! 22, 1~.1. 60 SHELL STREET~ 4,170.44 STREET ;PAVING 52,742.84 STRMfJD ROAD_.FIL1 3,797.00 TRAFFI~ LIGHTS 111.55 POLICE DEPSR'I'HENT EQUIlllliNT 6,939.65 SMALL TOOL~ 30.00 FIRE DEPARTIIE'NT EQllIPHENT 15,728.90 STREET SIGNS 679.84 LIBRARY AND CHAMBER OF CO!1}fERCE 5,000.00 COffiIDNITY HOU~~ 17,849.82 COMMUNITY HOUSE EqUIPMENT 6,569.53 LIBRARY FURNITURE AND FIXTURES 1,186.15 NEW CITY HALL 21,123.95 COMMUNICATIONS SYSTEM 200.00 PICNIC AR.lfA 664.36 l-lUNICIPAI, PARK AND PIER 1,491.44 TOTAL $ 202,215.89 ---- SCHEDULE " B-2 II CAS H _B E C E I P T S AND D I S -.1LlL.B S E ....tL12_ N ..1. s ~~~R l~ 1959 to OCT~ER 31, 1960 GENERAL FUND CITY OF EDGEW~~ FLORIDA Balance as per Audit - November 1, 1959 EECEIPTS Current Taxes License~ ~nd Permits Occupational Permits Licenses and Permits - Building Licenses and Permits - Electric Licenses and Permits - Plumbing Antenna Permits Beer, Wine and Liquor Licenses Fines and Forfeitures Miscellaneous Income Sidewalks and Curbs Reimbursement Interest on Sidewalks and Curbs Mortgage Paving Reimbursement Franchise Tax Cigarette Tax Dog Tags Garbage and Trash Collection Lot Cleaning Proceeds from Sale 0 f Equipment Payroll Taxes Collected $ Less: Payroll Taxes Paid TOTAL RECEIPTS TOTAL TO BE ACCOUNTED FOR DISBURSEl1ENTS Department of General Government Department of Streets Street Lights Police Department Fire Department Library Childrens Christmas Party Travel Advertising Donation to Fire Department Purchase of Dump Property 3,332.42 3,269.89 $ 100.00 49004 400.00 300.00 1,4.90.25 E1.'1IIB IT \I C " - Page 1 $ 29,506.45 6,597.50 4.20000 1,837,50 1,101. 15 629.62 40.00 1,659.00 4,221.00 215.82 l~, 320. 00 8,10 1,605,80 12 . 242 . 72 7 ,40L 78 135.75 10.227.20 4.09.50 2,400.00 62. S~. $ 18,300.70 30,138.56 4.985.37 12,049.95 5.050.95 1,191.84 1 C1 ..--' $ 9,909.00 85,OfIJ..42 $ 94.,950.42 CAS H R E eEl P T S P~D D I S BUR S E MEN T S --'-_...._.......~~...-....._------~....._-.........,.._..__.._--_.._---~,.-._~~.~_...-._-------... NOYE!mER.~~f.2_ OCTqBEr.Lll;_~12~Q Q[NEBh1 FUND l~. Ql~AUR~ill1EBJS (contirrued) __.___..._._...__..__._".... ...___....____QI'I'LQ.:L&Q.fJlli!j.1ER , F~g.IDL_.__~_~_~__..._~_,_ InstaJ.lation of Communications System H.Uln8.1.1e Society I?icnic Ares. tlunic::.pal Park and Pier Electricity for Dock Pa)~ents on Water Department Truck Water Department Expense $ 200,00 300.00 66l:. . 36 1.l~.9L4.4 17.28 1,205,28 20...:2~ .L~ TOTAL DISBURSm'illNTS BAWu~CE TO BE ACCOUNTED FOR ACCO.illIT-ED FOR A[~.FS Petty Cash Cash on Hand Bank 0 f Bel-: Smyrna $ 10.00 551. 21 ~6JL}33. 91 EXHIBIT lie" ~ 77 ~ 955 .?,~ $ 16,995.16 16,995.16 ~ ST. I 11 A..!JL1L....!LLy E N U E NOVEMBER 1JL 1959,1:0 DECEMBER 31, 19~Q gj~ERAL FUND 15 ___.~__..___._._____~__PTY OF EDGEWATER,._FLORIDA "___~__~~__ Business Licenses BtdldJ.ng Permits E 1ectn.c Permits Plumbing Permits Beer, Wine and Liquor Licenses Fines and Forfeitures . Hisce llaneous Cigarette Tax Dog Tags Garbage and Trash Collections Lot Cleaning Franchise Tax Occupational Permits Antenna Permits Current Taxes Appropriated Surplus TOTALS TOTAL COLLECTIONS DEDUCT: P~PROPRIATED SURPLriS NET COLLECTIONS TOTAL EXPENDITURES ESTIMATED $ 4. ,800. 00 2,132..L:.0 1,243.80 689.64 1,639.50 7,698.00 -0- 6,276..00 175.00 5,600.64 50..00 10,491.48 300.00 50.00 28,386.88 12,219.66 COLLECTED $ 6,597..50 $ 1,837.50 1,101. 15 629.62 1,659.00 4,221.00 8,549.72 7,401. 78 135.75 10,227.20 409.50 12 ,242 . 72 420.00 40.00 29,506.45 12 ,219 . 66 UNCOLLECTED OVERCOLLECTED* 1,797.50* 29.4...90 i4.2.65 60.02 19.5()ir 3,477 .00 8,549.72* 1,125.78* ~9.25 4.,626.56* 359.50* 1,751. 24* 120.0Q->\- 10.00 1,119.57* -0- $ 81,753.00 $ 97,198.55 $ NET COLLECTIONS IN EXCESS OF EXPENDITURES EXHIBIT liD" $ 97,198.55 12,219.66 $ 8~.,978.89 77,955.26 $ 7,023.63 15,445.55* 16 ORDINANCE ,n70 'IOTAL AP PRO l'R I AT ION EXPENDED UNEXPENDED OVEREXPENDED "'. ;. 2,200..00 $ 2,375,00 $ 175 . 00'1.' ~ 2,700.00 2,700.00 -0- 2,580.00 2,580.00 -0- 1,800.00 712.50 1,087.50 1,000.00 815.00 185.00 400.00 129.00 271. 00 1,000.00 1,607.13 607.13* 1,900.00 888.85 1,011.15 350.00 250.00 100.00 2,800.00 3,119.43 319..43'1< 1,800.00 1,836..88 36.88* 900.00 338.12 56 L 88 1,000.00 948.79 5L21 100.00 -0- 100.00 $ 20,530.00 $ 18,300.70 $ 2,229.30 $ 500.00 $ 8,500.00 $ 8,522.68 $ 22.68* 1,000.00 1,040.03 40.03* 300.00 183.53 116 .47 500.00 -0- 500.00 100.00 385.69 285.69* -0- 1,826.40 1,826.40* 800.00 5,600.00 5,608.09 8.09* 800.00 859.35 59 . 35'>1.' 300.00 500.00 413.08 86.92 500.00 268.03 231. 92 600.00 800.00 692.07 107.93 10,000.00 9,398.21 601. 79 500.00 330.00 170.00 200.00 59.20 lL~O. 80 EXHIBIT II E II - Page 1 17 ORDINANCE 41270 TOTAL APPROPRIATION EXPENDED . UNEXPENDED OVEREXPENDED -I: $ 750.00 $ 200, 04 $ 5~.9. 96 250,00 99.66 150.34 100.00 252.'2. 152.45* $ 2,200.00 $ 30 ,L~OO. 00 $ 30,138.56 $ 26Ll4.4 $ 7,000.00 $ 4,985.37 $ 2,014,63 $ 600.00 $ 7,400,00 $ 7,416.60 $ 16.60* 400.00 1,200.00 1,304.21 104.21* 400.00 398.06 1.94 100,00 234.39 134. 39* 200.00 154.77 45.23 100.00 117 . 15 17. 15"'( 200.00 74.00 126.00 1,400.00 2,400.00 2,350.77 49.23 $ 2,400.00 $ 12,000.00 $ 12,049.95 $ 49.95* $ 3,300.00 $ 3,150.00 $ 150.00 200.00 200.00 -0- 200.00 237.15 37.15* 500.00 830,06 330.06* 75.00 76.65 1.65* 100.00 118.90 18.90* 625.00 438.19 186.81 $ 5,000.00 $ 5,050,,95 $ 50.95* ..--- EXHIBIT " F; 11 - Page 2 I I - ORDINANCE 1/:270 18 TOTAL APPROPRIATION EXPENDED UNEXPENDED OVE,.~EXPENDED * EXHIBIT " E " f_9JL2.. 0 LID A T ~ P..13 A LAN C ,g:__~J:I E~ E T OCTOBER 31~ 1960 ALL t~ATER F.!ll.'I1lli CITY OF EDGE\vATER FLORIDA _._'~_._.._.__...._~---_ .:;;;..l- _ ASS E T S Cfl.SH. ON .Ji~~.K Cash on Hand ~Neu Smyrna Revenue Fund Operation, Maintenance and Repair Fund Sinking Fund Reserve Fund $ 13,77 7.30 3,029.35 18,225.98 3.500.00 {-lATER CONSQMERS' ACCOUNTS -MCEIV ~J& ~~1.f.ICA'tES. OF INDEBTj:P}l'ESS FIXED - {ENUEl,T II H II) INVENTORY OF }1ATERI~~ TOTAL ASSETS L I A B I LIT I E S AND S U~_R P L U S ACCOUNTS I:AYABLE - UNRECORDED P AYROLL _,!:~,F;.S~ M..YABLE METER DEPOSITS WATER REVENUE CE~IFICATES TRANSFERS -=- GENERAL FUND SURPLUS Surplus - November 1, 1959 Add: 1959 Accounts Payable Net Income over Expense Credit Given for Previous year's Rente on Purchase of Assets $ 126.98 20,646.23 1,400..00 Deduct: 1960 Accounts Payable PRESENT SURPLUS TOTAL LIABILITIES AND SURPLUS EXHIBIT II F II $ 329.57 l? ~.? . 5 32 . 63 $ 38,862.20 1.311.45 18,000.00 395,679.44 2,042.90 $ 455,895.99 $ 21,218.18 22,l}3.1J $ 43,391.39 52.00 $ 52.00 68.99 8.948.30 400,000.00 3.487.31 L:.3.311.:.l2. $ l:-55, 895,,99 c 0 N s...Q_J:._LP.-A..T E .1L-:\T..A._.,k.A.J:LS_~_~Ji E.J;;...1. OCl'@.]R .1.L._.llli ALL JihTER FUNDS CITY OF EDGEWAT~R. FLQRIDA LLL~.l.2. CAillLON Hf:f~ ANILlli BANK 20 Revenue Fund Operation and Maintenance Fund Principal and Interest Sinking Fund $ 24,900.49 1,554.50 1l.880~~ $ 38,335.54 RECEIVABLltS. Revenue Fund FIXED Revenue Fund INVENTOR~ Revenue Fund TOTAL ASSETS ~ I A B I LIT I E S AND SURPLUS 1LAB ILlTIES Revenue Fund Operation and Maintenance Fund $ 410,90l:.,84 72 . 24 TOTAL LIABILITIES SURPLUS Surplus - November 1, 1958 Add: Excess Income over Expense $ 2,275.81 19.069.35 $ 21,345.16 126 ,J_~ Deduct: Accounts Payable PRESENT SURPLUS TOTAl.. LIABILITIES AND SURPLUS EXHIBIT " G II 2,825.30 387,433.05 .;L 60 ~.J1. $ 4.32,195.26 $ 410,977. 08 ~!.,218.l& $ b,.32, 195.26 B A L A !is.. E 2_JL.LlLI ~TOBER 31, 1960 HATER SYSTEM REVENUE 11lli.:Q. CITY 9F EfJGEWATER. FLORIDA ASS E T S CASH ON HAND ~D IN BANK Cas h on Hand Bank of New Smyrna t~ATER CONSUMERS' ACCOUNTS RE~IVABLE FIXED Water Plant and Distribution System Line Extensions Equipment Bookkeeping Machine 1959 Chevrolet Truck INVm~TORY OF }tATERI-Ab TOTAL ASSETS 21 $ 329.57 ___13,777.30 $ 14,106.87 1.311.45 $ 380,094.80 9,537.86 886.22 2,750.00 _~~2.410.56 METER DEPOSITS 1_1 A B I LIT I E SANDS U R P L~ WATER REVENUE CERTIFICATES TRANSFERS - GENERAL FUND SURPLUS TOTAL LIABILITIES AND SURPLUS EXHIBIT II H II 395,679.44 2,042..90 $ l:.13.140.66 $ 8,948.30 400,000.00 3.387.31 805.05 $ 413.140.66 .!L.ALANCE-EHEET OCTOE3R 31..1 )960 OPgATION, MAI~ANC~AND REPAIR ]UND ._._. CITy OF EDGE\olATER, F:.LORIDA ASS E T S CASH JJL!?AHl5. Bank 0 f New Smyrna TOTAL ASSETS L ~!. A 13 I L _LT I E S A.~D SUR P L U S ACCQUNTS PAYPJ3LE - UNRECORDED PAYROLL ]AXE.U AYABLE SURPLUS TOTAL Llp~ILITIES AND SURPLUS EXHIBIT II I " 22 $ $ 3,029.35 3,029.35 $ 52.00 68.99 2.....908.36 3,029.35 $ 23 B A LAN C E SHE E T OCI~BER 31, 19~ WATER REVENUE~FICATES PRI~CIPAL AND INTERERI-SINKING FUND CrT'.." OF EDGEWATER. FLORIDA ASS E T S CASH IN BAJ.'iI< TOTAL ASSETS .!-18,225.98 $ J.8,225.98 Bank 0 f Neu Smyrna L I A B I LIT I E S AND SUR P L U S TOTAL LIABILITIES AND SURPLUS $ -0- 18,225.98 $ 18,225.98 LIABILIT~ SURPLUS EXHIBIT II J II ~_IN . Qlll~K Bank of New Smyrna TOTAL ASSETS 24 BALANC!..SHU...! OCTOBER 31, lliQ. RESERVE FUN12. _ . CITY OF EDGEWATE~R.. FLORIDA ASS E T S .2.-2..)00.00 $ 3,500,00 L I A B I ,L, I TIE S AND SUR P L U S LIABILITIES SURPLil? $ -0- 3....500.00 $ 3,500.00 TOTAL LIABILITIES AND SURPLUS EXHIBIT " K " 25 B A. LAN C ~ SHE E T OCTOBER 31~ 1960 DEPRECIATION FUN~ CITY OF EDGEWATER. FLQ.~JDA ASS E T S u~~s. CERTIFICATES OF INDEBTEllli~ TOTAL ASSETS $ 18.000.00 $ 18,000000 L I A B I LIT I E S AND SUR P L U S LIABILITIES SURPWS $ -0- TQTAL LIABILITIES AND SURPLUS 18.000.00 $ 18,000.00 ::: EXHIBIT ilL" C A.-2_tL.!..-E f; E I P T S Al'ID _._Q.J2..JL1l_!L_~_J H E N.J....i NOVE1:m..E!L.1, 1959 to OC':t.QBEP. 3!:..z. 1960 WATER_~YSTE}l R~1L~NUE FUND __ CIT'L.QI.Jill.GEWATER. rUJRIDA Balance as per audit - November 1) 1959 RECEIPTS Accounts Receivables Neter Deposits Less: Refunds Connection Charges Service Charges Line Extension Income Utility Taxes Hydrant Rental Niscellaneous Net Interest on Treasury Notes Construction Fund Transfer $ 1,500.35 1L0994Q TOTAL RECEIPTS TOTAL TO BE ACCOll1'ITED FOR D ISBURSE~iENTS Transfer to Reserve Fund Line Extension Refunds Transfers to Sinking Fund Tr&1Sfers to Depreciation Fund Transfer to Operation end Maintenance Fund Less: Non-Cash Transfers $ 19,600.51 1.600.51 TOTAL DISBURS~1ENTS BALANCE TO BE ACCOUNTED FOR ACCO~~E>>_FOR AS FOL1Qr~ Ca.sh on Hand Bank 0 f New Smyrna EXHIBIT " H 11 $ 29,333.75 40L 15 1,855.00- 667.50 123.50 18,063.45 3,150.00 7.70 573.96 205 .L~3 $ 3,500.00 124.20 25,345.43 18)000.00 18,000.00 $ 329.57 13.777.~0 26 $ 24.,695.06 ~.:')81. 't~ $ 79,076.50 64,969.63 $ 14,106.87 1L~,106.87 CASH RECEIPTS AND DISBUR~~ NOVEMBER l~ 1959 toj)CTOBER 31, 1960 oPERATgm, MAINTENANCE AND REPAIR FUND. CITY OF EDGEHATER. FWRIDA Balance as per Audit - November 1, 1959 R.ECEIPTS Transfer from Revenue Fund Less: Non-Cash Transfers TOTAL TO BE ACCOUNTED FOR DISBURSEMENTS Salaries and Wages Social Security Expense POHer Chemicals Supplies Truck Expense Repairs and Replacement Telephone Professional Services Printing and Office Supplies Machine Maintenance Insurance Payment on Equipment Line Extensions - Labor and Material Payroll Taxes Paid Less: Taxes Collected $ 833.05 829.80 TOTAL DISBURS~mNTS BALANCE TO BE ACCOUNTED FOR ACCOUNTED FOR AS FOLlDWS Bank 0 f Ne'~ Smyrna EXHIBIT " N " $ 19,600.51 1.600.51 $ 7,934.16 224.60 1,851.60 111.17 924. 36 281.21 134.82 222.64 300.00 344.61 86.00 179.37 2,400.00 1,527.36 3.25 27 $ 1,554.50 18~000.00 $ 19.554.50 16.525.15 $ 3,029.35 3,029.35 28 CAS H R E C E_LE_1 S "~ID D I S BUR ~~. N T...2. NOVEMBER 1, 1959 to OCTOBER 31, 196~ WATER REY2!!lli. CERTIFICATES PR1IiCIPAL AND INT~EST SINKING FUN.]. CITY OF EDGEWATER. FLORIDA Balance as per Audit - November 1, 1959 $ 11,880.55 RECEIPTS TOTAL TO BE ACCOUNTED FOR 25.34.5.43 $ 37,225.98 Transfer from Revenue Fund DISBURSEMEN1:S BALANCE TO BE ACCOU1~TED FOR 19,000.00 $ 18,225.98 Interest ACCOUNTED FOR AS FOLLOiVS: Bank of New Smyrna 18,225.98 EXHIBIT " 0 " CASH RECEIPTS AND DI.UURSE~iENTS ~OVEMBftR 1, 1959 to OCTOBER 31. 1969 RESERVE FUND 9ITY OF EDGEvJATER. FLORIDA 29 BaLmce as per Audit - November 1, 1959 RECEIPTS From Revenue Fund TOTAL TO BE ACCOUNTED FOR lllJllll!R.~EMEN1], BALANCE TO BE ACCOUNTED FOR ACCOUNTED .fOR AS_fQLLOWS Bank of New Smyrna EXIUB IT " P " $ -0- 3,500,00 $ 3,500000 -0- ~ ...'" $ 3,500000 3,500.00 30 s;.~li. R E eEl P ..1.l AND D I S B. U R S ~ 1.-1 E..li T S liQ..V:illlliER. 1, l~.59 to OCTOBER 31..a. 1960 QgfRECIATION FUNQ CITY OF EDGEWATER.:....FLORIDA.__ Balance as per Audit - November 1, 1959 $ -0- RECEIPTS TOTAL TO BE ACCOUNTED FOR 18.000.00 $ 18,000.00 From Revenue Fund DISBURSEHEN1'~ Purchase of U. S. Notes due 8/15/60 Less: Notes Redeemed* Purchase of U. S. Certificates of Indebtedness $18.000.00 18,000.90 -0- 218,000.00 BALANCE TO BE ACCOUNTED FOR $ 18,000.00 -0- TOTP~ DISBURSEMENTS * Interest in the amount of $888.08 \gas received and deposited in the Revenue Fund. EXHIBIT " Q " li..2...1_Ll1 ATE D REVENU& NOVEl-mER 1, 1959 to OCTOBER 31, 1960 ~R SYSTE}l REVENUE FUND CITY OF EDGEWATER->_FLORIDA UNCOLLECTED ESTll1ATED COLLECTED OVERCOLLECTED* $ 26,975.00 $ 29,333.75 $ 2,358.75* 900.00 -0- 900.00 3,825.00 1,855.00 1,970.00 705.00 667.50 37.50 3,000.00 3,150.00 150.00* 2,250.00 910.59 1,339.41 16,160.00 lD,063.45 1,903.6.-5* $ 53,815.00 $ 53,980.29 $ 165.29* Water Sales l-'leter Deposits Connection Charges SE:Tvice Charges Hydrant Rental Miscellaneous Utility Tax TOTALS BUD GET A P PRO P R I A T ION S rOYEMBER 1, 1959 to OCTOBER 31, 1960 WATER SYSTEM REVENUE FUND CITY OF EDGEWATER. FLORIDA APPROPRIATED EXPENDED Operation, Repair and Maintenance Fund $ 23,978.00 $ 18,000.00 Principal and Interest S inking Fund 23,664.00 25.345.43 Reserve Account 4,200.00 3,500.00 Contingencies 1. 973 . 00 124.20 ~ TOTALS $ 53,815.00 $ 46,969.63 EXHIBIT /I R " 31 UNEXPENDED OVEREXPENDED* $ 5,978,00 1,68L43* 700.00 1, 84~~~ $ 6,86,.5.37 32 JtJ T. I 1-1 ATE D REV E N U E NOYE}ffiER 1, 1959 to OCTOBER 31, 1960 Qfllt..ffiQJ:i. MAINTENANCE AND, REPAIR FUN~ CITY OF EDG~vATER~ FLORIDA ESTIHATED COLLECTED UNCOLLECTED OVERCOLLECTED'1< TOTALS $ 23,978.00 ~ 18.000.00 ~ $ 23,978.00 $ 18,000.00 $ 5,918.00 5,978.00 From Revenue Fund - == BUD G ~ TAP PRO P R I A T ION S NOVEMBER I, 1959 to OCTOBER 31, 1960 OPERATION. MAINTENANCE AND REF AIR FUND crTY OF EDGEWATER. FLORIDA APPROPRIATED EXPENDED UNEXPENDED OVEREXPENDED* Salarie.s and Hages $ 10,000.00 $ 7,934.16 $ 2,065.84 Line Extension - Salaries and l-1ages -0- 591.55 591. 55* Payroll Taxes 175.00 224.60 49.60* Line Extension - Payroll Taxes -0- 17.75 17.75* Materials 5,805.00 134.82 5,670.18 Line Extension - Material -0- 918.06 918.06* Machine Rental 2,400.00 -0- 2 , [;.00 . 00 New Equipment -0- 2,400.00 2,400.0<P'< Power 1,738.00 1,851.60 113.60* Chemicals 100.00 111.17 11. 17* Supp lies 1,080.00 924.36 155.64 Truck Expense 900.00 281.21 618.79 Telephone 302.00 222.64 79.36 Printing and Office 77 8.00 344.61 433.39 Audi.ting 200.00 300.00 100.00* Misce.llaneous 500.00 265.37 234.63 TOTALS $ 23,978.00 $ 16,521. 90 $ 7,456.10 - ~- EXHIBIT n S n 33 EST I MAT E D REV E N U E NOVEl'illER 1, 1959 to OCTOBER 3~.. 1960 WATER REVENUE CERTTFICAT~2..f!l.Il~~REST SINKING FUND CITY OF_EDGEWAT~~FLO~IDA ESTIMATED COLLECTED UNCOLLECTED O\TERCOLLECTED* TOTALS ~ 23,664.00 .i. .22...345.[.3 ~ t.681.43* $ 23,664.00 $ 25.345.43 $ 1,681.43* From Revenue Fund ~- --- - BUD GET A P PRO P R I A T ION S ~VEMBER :L..- 1959 to OCtpBER 31-4.- 196Q WATER REVENUE CERTIFICATES PRINCIPAL AND INTEREST SINKING FUND CITY OF EDGEWATER. FLORII?A APPROPRIATED EXPENDED UNEXPENDED OVEREXPENDED* Interest $ 19,000.00 $ 19,000.00 $ -0- Principal 4,664.00 -0- 4,664.00 TOTALS $ 23,664.00 $ 19,000.00 $ 4.664.00 EXHIBIT " T " 34 ESTIMATED REVENUE NOVEMBER 1, 1959 to OCTOBER ~t 1960 B1j;SERVE FUND CITY OF EDGEWATER. FLORIDA ESTn1ATED COLLECTED UNCOLLECTED OVERCOLLECTED:f~ TOTALS $ 4.200.00 $ 3.500.00 $ $ 4,200.00 $ 3,500.00 $ 700.00 From Revenue Fund 700.00 BUD GET A P PRO P R I A T ION S NOVID1BER 1, 1959 to OCTOBER 31, 1960 RESERVE FUND CITY OF EDGEt-lATER. FLORIDA APPROPRIATED EXPENDED UNEXPENDED OVEREXPENDED'k TOTALS $ 4.200.00 $ $ 4,200.00 $ -0- $ 4,200.00 $ 4,200.00 Unappropriated Surplus -0- -, - EXHIB IT " U " I.Ji..f._ 0 1-1 E Al-~~ E X P E !LU ~..QVEl1'13ER t.. 1959.to OCTIlBER 31-.1 1960 WATER FUND ---f1IX....Qf. EDGEl'lATER. FLORIDA INC9~ Hater Sales Connection Charges Service Charges Line Extensions Hydrant Rental ~1isce llaneous Income $ 27,841070 1,855..00 667,50 123450 3,150.00 7.70 TOTAL INCOHE EXPENS~ Salaries and Wages Po..7e:r. Chemicals Repairs Truck Expense Telephone Bad Debts Supplies Printing and Office Supplies Machine Maintenance Insurance Payroll Tax Professional Services $ 7,934.16 1,851.60 111.17 155.06 281. 21 222.64 21.80 924. 36 344.61 86.00 179.37 224.60 300.,QQ TOTAL EXPENSES NET INCOME FROM OPEP~TIONS O'l'HER INCOHE AND EXPENSE Utility Taxes Interest on U. S. Treasury Notes Less: Interest Paid on Purchase $ 18,063.45 $ 888.08 314.12 573.96 TOTAL OTHER INCOME $ 18,637.41 19,000.00 Deduct: Interest on Revenue Certificates NET OTHER EXPENSE NET INCOME EXHIBIT " V " 35 $ 33,645,,40 1L 612.~ $ 21,008.82 ~?59 $ 20,646.23 CAS H R E C E I P T S AND D I S BUR S E MEN T S ~VEMBER 1. 1959 to OCTOBER 31~ 1960 COMMUNITY CENTER FUND CITY OF EDGEHATER. FLORID4 Balance as per Audit - November 1, 1959 RECEIPTS Donations, Games, etc. Rents TOTAL RECEIPTS TOTAL TO BE ACCOUNTED FOR !U.WURSEMENTS Utilities Shrubs Bank Charges Christmas Party Janitor and Social Security Heaters Improvements Equipment Soft Drinks Repairs Pa.rk and Pier Donation Supplies and Miscellaneous TOTAL DISBURSEMENTS BALANCE TO BE ACCOUNTED FOR ACCOUNTED FOR AS FOLLOWS Cash on Hand Bank of New Smyrna EXHIB IT " W II $ 2,969.76 364.50 $ 403.07 70.08 1.00 25.00 1,079.49 96.50 162.00 199.80 23.85 146.56 200.00 245.48 $ 1..06 1,424.45 36 $ 744.08 3,334.26 $ L~,078.34 2,652.83 $ 1,425 . 51 1,425.51 ,.,