FY 1957 Audit Report
~
AUDIT R1<;PORT,
OG'I'OBrm 31!l 1957
CITY OF EDGEiiATSR j} FlDRIDA
MAYeR s
COUNCILM~Ns
ATTORNEY:
CITY CLERK:
AUDITOR :
I.
..
1:
George 00 Sedgwiok
Harry IV 0 Broga
Crawford Co Shaeffer
Robert J 0 Henry
Bernard Co Farrell
John "!i: 0 Chisholm
Frank F 0 Dippery
Frank Mo Genter
FRANK M. GENTER
CERTIFIED PUBLIC ACCOUNTANT
"
MEMBER:
AMERICAN INSTITUTE OF ACCOUNTANTS
FLORIDA INSTITUTE OF
CERTIFIED PUBUC ACCOUNTANTS
A....ERICAN ACCOUNTING ASSOCIATION
ROOMS 8 '" 9 - WINGATE BUILDING
11812 VOLUSIA AVENUE
DAYTONA BEACH. FLA.
TELEPHONE CL 2-6101
November 210 1957
To The Honorable Mayor
and City Council/)
City of Edgewater rJ F1oric1ao
nentJemn:
I have exmnined the Balance Shoot of the City of Edgewaterg Floridao
as of October 310 1957 v and the relatEld 3t.atem:mts of income and surplus for the
year than endedo My examination was made in accordance with gE!nerally accepted
eudi t.ing ~tandard5 and accarding1y inc1u&d such tests of accounting records and
such other supporting evidence as considered nece5sary in the Gircumstanceso
;;
In my opinions the accompanying balance sheet and related statenents of
incollt8 and surplus fairly present the financial po~ition of the City" at
October )l" 1957 il and the results of its operations for the year then arrled/) in
conformity with generally acceptad accO\U1ting principles applied on a basis
consistent with that of the preceding yearo
As Q result of rrry .rorko I submit herewith the following described
statemnts, together with cOl'llments re lati Vt) theretO:
'::XHIBIT " A It
Ba.1ance Sheet
SCH~um " A-I"
Tax ',ale Certificates
SCHlffiULE It A~1t
Fh:ed Assats
exHIBIT "B"
Cash Receipts and Disbursements
-;;XHIBIT II C "
Budget; Jlppropriations
BXHIBIT "D It
Cash Receipts and Disbursements
Community Center Fund
COUMENTS
ASS~TS
GASH ON HAND AND IN DANK = $13J)9h50J9
Cash on hand 7fas vel"ified by actual count 0 Cash in Bank of New Smyrna
WElS verified by reconciling the book balances with the balances shown on the
bank ~tatementso
To guarantee the depos1t3 of the City in excess of SlOeOOO.,OOo the
Bank of N3w Smyrna has placed 1n escrow $100000000 U.. So TreasurY' Noteso
All deposits in the 5p2cial water account. have ~en' refunded with too
,
exception of $10000 which will be refunded as soon as the oopositor returns to
the City.,
'nle bank account for the oP3ration of the Community Center has man taken
oft the City boolre as a Board of Governors has baGn formed to supervi68 receipts
and disbursem:mts e All improvements and equipment purchaged during the year e
however p have been set up as !l9sets of th3 City 0
A.ll cash receipts were traced into the prop:?r accounts in the cash book
and into the bank accounto The vouchers were traced into the cash book and
were examimd for proper signatureso
R~c'nVAJ3LES - $896018
Tax Sale Certificates in the amount of $791.,13 were inspected and found
to be in balance with the ~neral ledger control.. A.ll redemptions were t~aced
into the cash book and delinquent tax register.. Lot cleaning liens in the
amount of $105..05 from prior years are still outstanding on tle bookso
FIXW - $91R 7430 72
The fixed assets are carried on the books at cost arrl represent the capital
assets of the CitYn
Changes during the current .ve ar are as follows:
"" 2 c.~
Balance 8S per A~1it ~ October 31, 1956
$ 72ohh1065
G~'ffiRAL GOVSRm~~NT
Underwood 'I'ypswri ter $
Burroucns Arldine Machips
Table
4~"Desks
A.ir Conditiorer
Less I A11en"':"lales Adding i',iachire Traded
395000
362..00
13~6
248045
125,,00
$ 1,,:1.43091
193050
950041
srn:mT DSPARTM~T
Tandem Roller Tractor
Maintenance Unit-Spreadar
$ 3.9430C4
1n961..25
5r;9~o89
139057
70462 .,66
2,,176090
S'IR~T SIGNS
STR1~T PAVING
SHE!J, AND UNPAV~D STRE~TS
POlIC-g nSPART!fmT
New I~l1ce Car
less: Old Police Car Traded
~~ 3,,125010
31)072 035
52,,75
FIRB n~PARTM~NT
Coats and Hats
PLAIDROUND :;;QUIPWili"I' - (Discarded)
100056
(41093) .
GOM~,iUNITY C1NTfi;R DWROVo;;\lSNTS
1,,185..06
TOTAL FIXlID
11)371020
$ 91f) 7430 72
COMMUNITY ClmTER EQUIPME~'T
In my last audit I recommended that an inventory of the equipment on hand
be taken to eliminate discarded equipnant from the books 0 '!his was not dona
and it is again recommsnded that such an inventory be taken" I was informed
that the. playp,round equipmr:mt had been discarded some tiJ12 ago and I accordingly
reduced the amount of' assets by their costo
L I 11 B I LIT I ~ SAND SUR P L U S
ACCO~TS PAYABLE = $1~7BOo27
As thG City operates on a cash basis the accounts are not set up on the
books until approved by the f;1ty Council at open rreeting and paid~ Tht!Y are Il
however, set up on the balance sheet so that the fair financial position of
the City will 00 reflected by this a:udito
.,
"iI'J'HHOLDING TAX - $51,,60
SOCIAL S~CURITY TAX ~ Bh1~03
The above items represent income and social security taxefJ Tfithheld from
employees wages and are due and ps.yabJe January 0 19580
SPr..:CIA11~"'AT~ D~POSIT - $10,,00
This is the contra item for the $10(>00 special watgr account in too Bank
of New Smyrna and is covered u..'I1der the heading of cashr.
SURPLUS ~ $104"702039
The surplus account represents the excess of the Cityts assets aver the
City's lial)ilities as ShOim on the balance ~heet aTld is itemized on Exhibit It Ii. no
GENERAL
On July 16th D 1956 th~ City Council passed Ordinai1ce 1]24 adopting the
budget for the fiscal J'~ar ending October 310 1957.. The budget was tben E1m3nded
by Ordinance #156 on May 6~ 19578 Ordinance #158 on May 130 1957 and by Ordinance
/1166 on August 58 19570 The original buclgetD the items and amounts amended, and
the a!JBnded budget are shown on '~hibit II C It, the Budget Appropriations sta~aento
The amended In.1dget shows a total appropriated of $550800000, expenrlitures of
$530306054, or an unexpended balance of ~ .493.460
The cash balance on October 31, 1957 was $13D945.39 in comparison ~th
$11,493..25 at th{} close of the precedinp, yearll or an increase of ~ ~452 014" In
addition the City purchased capital a~sets in the amount of *19,344000 shown
under the heading of Fixed..
Exhibit " D " is a Cash Receipts snd Disbursement~ statement of the
Community Cent.l!lr Fundo The Disbursements ware segI'f.!gated and all capital items
were set up on the balance l!lhaet. 'Blese aSgets are shovrn on Schedule If A-21f ..
-4-
I wish to take this opportunity to thank the City officials and emplo;y-aes
for their cooperation during the preparation of this aud1to
Respectfully subm1ttedc
~~f.:'~
n A LAN C E S H S S T
or.rOBr.:R 3~ 1957
CITY OF E:DG~':rAT1Ra FL0RJnA
--
AS.s:.;T5
CASH ON HftJm A~~ IN B4NKS
Cash on Hand
Petty Cash
Bank of Nan- Smyrna=0p0rating Fund
Bank of New Sm,yrnacSp:cia1 Water Fund
R1G::;IVABL~S
Tax Sale Cert1ficates=(Schedule "A_lIT)
Lot-CleaJ'l.1nB Liens
FIX~ _(Schedule"A-2n)
TOT II.L ASS '~TS
$ 120051
50,,15
13 f) 7th" 73
10000 $ 13p945039
$ 791013
105,,05 896018
L I A D I LIT I ~ S AND SUR P L U S
ACCOUN1'S P.'1YABLli.:
VG'llmOmUrG TAX
SOCIAL S~GtmITY TAX
Sr~CIAL ~ATER nSPOSIT
SURPLUS
Surplus-November 1" 1956
Add: F1x~d Assets Acquired .
Notes . Paid-l',Josqui to Control Board
FlagJer County
Vo1usia County
r.;xcess of IncoIOO Over Exp'nse
Deduct: Assets Traded and Discarded
Delinquent Taxes Redeemed
Community r.enter Bank Account
Accounts Payable
PP.SS~NT SURPLUS
TOTAL LIABIlIT.I~S AND SURPLUS
$ 22,609085
450000
uOOI>OO
28u16,,65
$ 3D307078
61039
753032
__ 1~ 18002'(
EXHIBIT It A It
$ 8uII 728065
25,,876050
~llo t 605 t ~
5fJ9~,,1~
910743072
$1060585,,29
$ 1,,780027
51060
u1003
10000
104 D 7Cf2 039
$1060585029
Yfi;AR
1925
1926
1921
1928
1929
1930
1931
1932
1933
1934
1935
1936
1931
1938
1943
1944
1945
1946
1941
1949
1950
TOT /\ L
T A X S A L ~ C ~ R T I F 1 CAT S S
OCTOB'iR 311' 1957
CITY OF ~G~VAT~Rp FLORIDA
AMOUNT
$ 41,,57
200001
137,,00
17 .-54
12,,92
76,,58
12 ,,44
26,,48
133 .,70
2,,€Q
J2 037
2,,74
6026
4061
17,,28
12Q~
1045
1,,43
1,,1)
1,,31
2093
$ 791011
~
S('11SDUL~ II A~l"
FIXED ASSETS
OCTOBlffi 310 1951
CITY OF 1ID1}~';A'l''m 8 FLORIDA
ITEN
Road ~1achimry
Furniture and Fixtures
AMOUNT
$ 110832 0&
2 p 131001
80000
1;651035
1.11)11001.,4
190710002
3f1191000
111055
31)125010
30000
)2 0119061
4,098000
11,,687082
3,,939034
619084
. FJara
Real Estate
Shell Streets
street Paving
Strand Road Fill
Traffic llr)1ts
Pollce Dcpartnent Equipm3nt
Small Tools
Fire Departrrent Squiprrent
Rest Rooms and City Hall Improvennnts
COl'/ll'ilUnity House
Community House Eouiprrant
Street Signs
TOTAL
$ 91,,143012
S CHWUill << A...2"
CAS H R g C ~ I P T SAND D I S R U R S ~ M ~ ~ 1. S
~VGV!l3;;;R 19 1956 to OCTOBffi 319 1957
CITY OF WGE:VAT"lliv FLORIDA
Balance as per Audit - October 31, 1956
R!~C:;:IP1'5
Withhofding Tax
Social Security Tax
CUITent Taxes
Taxes Not on Roll
Licenses: Business
Liquor, Beer and Wine
Permits: Occupational
Building
Electric
Antanna
Plumbing
Interest on Dalinquant Taxes
Fims and Forfeitures
i'!li!'Jc2llaneous Income
utility Tax.es: B:Iectrlc
Gas
Tela phoro
Frnnchise Tax - 6%
Cigarette Tax
Dog Tags
Garbaze and Trash Collection
Lot C18aning
$ 4,329050
11' 55102 5
~ 400000
2,,156.75
1,202 005
50000
159000
$ 79101624
2,61.13051
If! 612 ote
TOTAL RT!.:C:":IP1'3
TOTAL ro m ACCOUNT!ID FOR
DISBURsr.;:ir~NTS
General Govsrmront
1Ja-yor nnd Caunci mns e Fees
ClerIcs Salary
Attorney Fees
EJa ctions
Office ~xp:msa and Equipment
?~isce 11ane ous
Audi ti np,
Insurance
Insp9 ction Fees
Upkeep - City Hall
Social Security Taxes
Interest
$ 589090
436051
159275040
61.39
5,,800075
4,567080
94.18
40855..00
lOA.70
1l,3$7037.
4 ,uoS ,,20
5,259015
162 025
20605.00
1,091.00
~7 2,124096
3,400000
801080
161.1.5
1,897.50
558.67
250000
111364.51
1,100000
490" 12
1~9 .69
65033 $ 12,66Uo03
streat Dapartnent
Salaries
Truck and Tractor &xpense
Material and Supplies
Repairs
Misce llineous
New F..quiprrBnt and PaYl11ents
$ 8,,011045
ls2090 70
1~311017
11/546007
1,,449 "uO
6.85uo89
-gxHTRIT It B n _ Pap,e 1
$ 110493025
56" 749 GOO
$ 68,242085
CAS H R;;; G SIP 'T' S ftND D I S P, U R S !~ g ~ N 'l' S
NOV:<;MB~ 1v 1956 to OCTOBER 311) 1957
CITY OF WGo;;; 7}\ T<;R ~ FLORIDA
Street Paving
Street Surveying
Opening Streets a.nd Lot Cleaning
Fogging
7 ,btQ 066
295000
1~426()OO
2220f:2
Street Lif')1ts
Fire Departnnnt.
Donptions to Firemen
Truck !!:xpense
New 1quipment
Y',li8ce 1laneous
Te J.e ph ore
Lic-".hts 1,7fJoS1
Contingencies
Don~tions
Childrens' Christmas Party
Tr2ve1, . Lodginr, and ~ha1s
FirGworks
legal Notices
Adv~rti~ing Folders
Community Center ~uipment
COffil'TJUnity Center Improvorrents 2,191.86
Library
Salary
Library Booka
Withholding 'l'ax
Social Security 'l'ax-~mployee51 Share
T01'IlL DI5BURS::~fi.:~'TS
BALAJlJG~ TO B~ J\C:COUN'r'<:n FOR
ACCOUN1''ID FOR AS FOLLU,:S:
8ank of New Smyrna
Cash ~ Hand
Pet.ty Cash
SXHIDIT " R II
29,194096
1,885000
338.19
578000
.422.92
54,301046
$ 13p935039
$. l3,,76ho73
]20051
50015 13,935..39
BUUGeT A P PRO P R I A T ION S
No~.m~R 1, 1956 to OCTOB'm 31. 1957
CITY OF goG~1AT~R, FLORIn A
APPROPRIA'RD APPROPRIATTID APPROPRIATlID
ORDINANCE ORDINANCl!: ORDINANCE
#124 #1,6 #158
General Government $ 9,700000 $ 800000 $ -Oe>
Street Department 14,150000 3,850000 5,000000
Street Lights 2,000000 200000 -0=
Police Department 5,100.00 =0- -0=
Fire Department 3,650000 (2,850000) ..0-
Emsr88ncy and
Contin~ancia s 5,,000000 (2 pOoouOO) =0=
,< - '
Library hoOooo -0- -0..
TOTAlS $ 40uooOuOO $ =00:0- $ 51'0OOooo
APPROPRIATED TOTAL UNEXPENDED
ORDINANCE APPROPRIATlID EXPE:NDED OVER-
!11M EXPENDED*
$ 39000000 $ 13,500000 $ 120664003 $ 835097
6,800000 29,800000 29" 794096 50ch
-ado 2,200000 111885,,00 315000
1,000000 6,100000 511953,,99 146001
...()..,. 800000 478051 321049
...0- 3,000000 211191086 808014
...0- 400000 31,8~lq 61 ~81.
$ 10,800800 $ 5511800000 $ 530306054 $ 2 ,493046
EXHIBIT n C <<
CASH RECEIPTS AW DISBURSEMSNTS
NOVSMBr.:R III 1956 to OCTOBER 3b 1957
COr~nnJITY CBNTSR ~m
CITY OF 'IDGE'VAT~, FLCRIDA
Balance as per Audit - October 31, 1956
R1];C1IPTS
Service Charge Refunds
Don!?tlons
Dances
Hall Rental
City of Bd~ater
TOTAL R~G':IPTS
TOTAL TO B!.i: ACCOUN1'~D FCR
1) 1::; BUR 5 S~~l~NTS
Jmlitor Service
Social Security
Service CharGe
S1ectrici t,y"
Gas
Equipnent
Improvenants
Printing Tickets
T-V for Raffle
TOr AL l)I(.mURSr;;T,~N'I'S
BALANCS TO BS ACCOUNTSD FOR
AGCOu}J~ FOR AS FOLLa,~S:
Cash on Hand
Bank of New Smyrna
EXHIBIT n D n
$ 2033
2 ,902045
30000
49024
125000
$ 470020
17080
2071
99031
195056
10306020
823033
30000
215000
$
061
7010(:2
s
7530.32
3 0109002
$ 3,,862034
$
36160011
702 023
7('fi!.023