FY 1956 Audit Report
.
AUDIT R~POR'l'
OCTO~ 31, 1956
CITY OF lIDGtNA TER. 'FLORIDA
MAYOR:
COUNCILMEN:
ATTORNEY:
CITY CL~K:
AUDITOR:
..
..
George O. Sedgwick
David L. Washburn
Raymond T. Friedley
Herman John
Bernard Farrell
Fred R. Brannon, Jr.
Frank F. Dippery
Frank M. Genter
FRANK M.GENTER
CERTIFIED PUBLIC ACCOUNTANT
MEMBER:
AMERICAN INSTITUTE OF AccouNTANTS
FL-ORICA INSTITUTE OF ACCOUNTANTS
ROOMS e Be 9 .. WINGATE BUILDING
November 28, 1956.
118\2 VOLUSIA AVENUE
DAYTONA BEACH, FLA.
TELEPHONE 6101
To The Honorable Mayor
and City Council,
City of ~dgewater, Florida.
Gentlemm 2
I ha Va examined the J3a Jance Shee t of the City of 'Edgewa te r, Florida,
as of October 31, 1956, and the related statements of incone and surplus for the
year then ended. My examination was made in accordance with gener<tllyaccepted
auditing standards and accordingly included such tests of accounting records and
such other supporting evidence as considered necessary in the circumstances.
In my opinioJ?, the accompanying balance sheet and related statenents
of incorre and surplus fairly present the financial position of the City. at
October 31, 1956, and the results of its operations for the year then ended, in
conformity witlr generally accepted accounting principles applies on a basis
consistent with that of the preceding year.
As a result of my work. I submit herewith the following described
statenents, together with comments relative thereto:
1l.:XHIBIT II A " 'Ralance ~heet
SCHlIDUL~ n A-1" Tax Sale Certificates
SCH1roUL~ " A-2" Fixed Assets
mcHI'RI'I' II B II Gash Receipts and nisbursements
JroiIBI'T' " C II Budget Appropriations
1!:'{HIBI'T' "D" Cash Receipts and Uisbursenents -
Community Center ll'und
CO'~M1<.:N'T'S
ASSETS
CASH O~T HAND ANn IN BA.NK u ~12,256.57
Cash on hand was verified by actual counto Cash in Bank of New Smyrna
was verified by reconciling the book balances with the balances shown on the
bank statements.
To guarantee the deposits of the City in excess of :llO,Ooo.OO, the
Bank of New Smvrna has placed in escrow ~lO,OOO.OO u. S. Treasury Notes.
All deposits in the special water account have been refunded with the
exception of tlO.OO which will be refunded as soon as the depositor returns to
the City.
As the City has taken over the operation of the Community Center, the
bank account, in the amount of ~753.32, has been set up as an Asset of the City.
All cash receipts were traced into the proper accounts in the cash
book and into the bank account. The vouchers were traced into the cash book and
were examined for proper signatures.
R~CErvABL~ - $957.57
Tax Sale Certificates in the amount of $852.52 were insp:!cted and.
found to be in balance with the general ledger control. All redemptions were
traced into the cash book and delinquent tax register. Lot cleaning liens in
the cmount of $105.05 from prior years are still outstanding on the books.
FIXED - $72 ~44l.65
The fixed assets are carrieo on the books at cost and represents the
capital assets of the City.
Changes during the current year are as follows:
Balance as per Audit - October 31, 1955 $ 44,941.76
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ADDITION.S
GE~AL GOV~R~NT
Heyer Duplicator
Fan
$
344 gOO
53000 $
397 .00
STR~ET DEPAR'1'M~NT
International Tractor & Blade
Ford Tractor
Dynafog Machine
less: Traded In-Old Tractor $1, 7!~5.04
Gladhill
Road Shaper 819.46
Mower 344.71
Discarded-Dynafog
Machine 209.78
$ 4,815.50
675.00
600.00
$ 6,090.50
3,118.99
2,971.51
340.27
525.54
2,985.63
500.00
STR~~T SIGNS
SHgLL AND UNPAVED STR~TS
STRSST PAVING
FIRE TRUCK
POLICE D~PARTMENT
New Chevrolet-Equipped
Police Radio
Less: Police Car Trade0 In
~MMUNITY C~l\TTlm - Building
COMMUNITY CEN~ - Fixtures
$ 2 t647 .35
. 425.00
~ 3;072.35
2 ,363.31
709.04
16,502.76
2,568 .14
TOTA.L ADDITIONS
TOTAL FIXED
27,499.89
$ 72,441.65
It has been called to my attention that some of the equipment in the
various departnents has been discarded. I would therefore suggest that an in-
ventory of the equipment on hand be made so that discarded equipment can be
eliminated from the books.
LIABILITIES A~ SURPLUS
ACCOUNTS PAYABLE - $964e74
As the City operates on ~ cash basis the accounts are not set up on
the books until approved by the City Council at open meeting and paid. They
- 3 -
are, t07i€Ver I S9t up on the balance sheet s::> that the fair financial pcsJ.:c.lan
of the City will be reflected by this audit.
NOT~ FA Y!BLTi.: - $850.00
These notes are due and payable to the Mosquito Control Board of
Flagler County, in the amount of $450.00, and the Mosquito Control Board of
Volusia County, in the amount of $400.00. Both notes are for equipment payments.
WI'IHHOL'DING TAX - $39.10
SOOIAL StOOURITY TAX - t21.44
The above items represent income and social security taxes witheld
from employees wages and are due and payable January, 1957.
SM;cnL TIt! ~ n~POSI'r - $10.00
This is the contra item for the $10.00 special water account in the
Bank of New Smyrna and is covered un~er the heading of Cash.
SURPLUS - $83,163.91
The surplus account represents the excess of the City's assets over
the City's liabilities as shown on the balance sheet and is itemized on
~hibit "A".
G ~ N T!: R AL
On March 12, 1956 the City Council passed Ordinance #103 Which amended
Ordinance #82 covering the budget for the fiscal year ending October 31, 1956.
The crigina1 budget, the items and amounts amended, and the amended budget are
shown on ~ibit "0", the Budget Appropriations statement. The amended. budget
shows a total appropriated of $39,149.00, expenditures of $38,319.98, or an
unexpended balance of $lp429.02.
The cash balance on October 31, 1956 was $11,493.25 in comparison
with $8,OB8.41 at the close of the pn3ceding year, or an increase of $3,404.84.
- 4 -
In addition the City purchased capital ass~ts shown under the heading of Fixeda
T!Jchibit "U" is a Cash Receipt::> and Disbursenents sta tament of the
Community Center fund. TI1e Disbursement::; ;yere segregated and all capital items
were set up on the balance sheet. These assets are shown on Schedule "A-2".
I wish to take this opportunity to thank the City officials and employ-
ees for their cooperation during the preparation of this aunit.
Respectfully submitted,
~<tw();7~
ank M. Genter, C.P.A.
..
B A LAN C ~ S H ~ ~ T
OC'1'OBS~ Y_L2._~9:)~
CITY O'F 'mGT!.'lff!;."'~'1, ;'?LORID!
!SS~'1'g
CASH ON HAND ANT) IN BANK
Cash on Hand
Petty Cash
Bank of New Smyrna - Operating 'Fund
Bank of New Smyrna - Special Water Fund
Bank of New Smyrna - Community Center Fund
R~CEIVABL~S
'!'ax Sale Certificates
Lot Cleaning Liens
FIXED - (Schedule "A-2")
TOTAL A.SS~TS
$ 60.27
.15
11;432083
$ 11,493.25
10.00
753.32 $ 12,256.57
~
852.52
105.05
L I ~ B I LIT I ~ S AND SUR P L U S
ACCOUNTS PAYABLE
NOT"'..3 PA YABLl!:
WI'IHHOLDING TAX
SOCIAL S~CURITY TA.X
S~OIA.L WA~ D~POSIT
SURPLUS
Surplus - November 1, 1955
Add: Fixed A.ssets A.cquired
Note Paid~atkins Ford 00.
Oommunity Center & F4uipment
Community Center Bank Account
Excess of Incone Over ~pense
~ 8,428.99
1,000.00
19,070.90
.753.32
3,344..54
Deduct: Notes Payable
Delinquent Taxes Redeened
Accounts Payable
PR~SENT SURPLUS
$
850.00
6.39
9(4074
TO'1'\L LI~BILIT~S A.ND SURPLUS
1ITHIBIT II A "
$ 52,987.29
32;597.75
$ 85,585.04
1,821.13
957.57
72,441.65
$ 85,655.79
$
964.74
850.00
39.70
27.44
10.00
83,763.91
$ 85,655.79
TAX 3 A L ~ C~RTrFICATES
OCTOBl5R 31, 1956
CrTY OF 'EDG~A TIlli , "FLORIDA
YEAR AMOUNT
1925 $ 41.57
1926 200.07
1927 137.00
1928 91.49
1929 30.67
1930 76.58
1931 12.44
1932 26.48
1933 153.05
1934 2.62
1935 12 .37
1936 2.74
1937 6.26
1938 4.67
1943 17.28
1944 12.64
1945 7.45
1946 li.77
1947 1.13
1949 1.31
1950 2.93
TOTA.L $ 852.52
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SOHEDf11.E 12 A-l"
F I X ~ n ASS ~ T S
OCTOB~ 31, 1956
CITY OF 'SDG~A ~R, FLORIDA
IT,!<;M
M~OUNT
TOTAL
$ 1l,907.75
1,780.60
80 .00
1,651.35
1,993.54
12 ,247 .36
3,797.00
111.55
3,072.35
30.00
12,019.05
540.27
4,098.00
41.93
16,502.76
2,568.14
$ 72,441.65
Road Machinery
Furniture and Fixtures
Maps
Real mstate
Shell Streets and Unpaved
Street Paving
Strand Road Fill
Street Lights
Police Department Equipment
Small Tools and Misce llane ous Bquipment
Fire Department 'Equipment
Street Signs
Rest Rooms and City Hall Improvements
Playground EquipTMnt
Community House
Community House Equipment
SCH~UTB IA-2"
CAS H R ~ C E I P T S ANn D I S BUR S E M ~ N ~ S
NOVEMBlm 1, 1955 to On'POB1<.:R 31, 1956
CITY OF T~T)I:'~Ti:W"f!. T@ 1 FLORIDA
Balance as per Audit - October 31, 1955
$ 8,088.41
REm:ms
Wi thho1ding Tax
Social Security 'Pax
Current Taxes
Taxes Not on Roll
Licenses t Business
Liquor, Beer and Wine
Interest on Delinquent Taxes
Fines and Forfeitures
Loan - Bank of New Smyrna
Utility Taxes: ~lectric
Gas
Telephone
Permits: Building
~lectric
Plumbing
Franchise 'Pax - 6%
Cigarette Tax
Dog Tags
Garbage and Trash Collection
Lot Cleaning
Miscellaneous
Refund neposi t - City of New Smyrna Beach
$ 2,880.50
1,495.00
$ 5,323046
2,925.08
1,271.10
rT:WJjj
131000
538 cOO
TOTAL R~CEIPTS
TOTAL TO BE ACOOtThTT'm FOR
DISBURSEME:N'IS
$ 484.30
303.40
10,720003
6.39
4,375.50
10.51
3,855.00
3,575.00
9,519.~
1i 711.03
3,328.75
4,932.49
174.00
2,444.10
252.50
334.58
50.00
Loans Payable - Bank of New Smyrna $ 3,575.00
General C'rovernment
Mayor and Councilmens' Fees $ 1,999.96
Clerk's Salary 2 p674 ..15
Attorney Fees 680.00
'Elections 169,,68
Office Expense and l?quipment 976n08
Miscellaneous 217 ,,81
Auditing 200.00
Insurance 910044
Inspection Fees 181.00
Upkeep - Oi ty HR.ll 115.04
80c1.9.1 Security Taxes 3oh,,29 8,428.45
-
Street Department
Sahries , 5,297 ,,08
Truck '100 Tractor 1!:x:p3nse 1,211092
EXHIBIT "B" - P-3.ge 1
46,077 .22
tot 54,165.63
C A .s H R 'I!: C 'q: I P T C) ANl) 1) I .S BUR S ~ M ~ ]IT '1' S
}TOV1OO3~ 1, 1955 ~._OrT{)B'q:R 31, 1956
CITY O'F ~~G~~}'~~., FLORIDA
Ma terial and Supplies
Repairs
Miscellaneous
Street Paving
Street Surveying
New 'Equiprrent and Payments
Interest
~reet Lights
Police Department
Salaries
Gas, Oil and Repairs
Supplies
Miscellaneous
Pris one rs' Fee s
1'e le ph one
Radio Service
New lEquiprre nt
Fire Department
Donations to Firemen
Truck ~pense
New Equipment
Misce llane ous
Telephone
~in~encies
Childrens' Christmas Party
Lights for Christnas Tree in Park
Volunteer Fire Department
School Boy Patrol
Childrens' Recreation Program
Miscellaneous
Community Genter
Building Fund
Upkeep
Library
Librarian's Salary
Libra.ry Books
Withholding T:lx
Social Security Tax - ~mployees' Share
TOTAL DISBURS1j;MTi:NTS
B4.LANCE
ACCOUNTTID FOR AS 'FOLLOWS g
Bank of New Smyrna
C"lsh on Hand
Fetty Cash
599073
453,,91
620 ,,84
2,985.63
634..00
5,034.03
160.88
$ 3,968QOO
778052
97~&
119,,57
74:125
:58063
J()5,00
1.5g9,,95
$ 200.00
100066
614,,56
106.64
120.47
$ 100.00
79.00
200.00
100.00
100.00
70.00
$ 1,665059
532.50
$ 240.00
44..31
1rffiIBIT II B II
16,998.02
1,718.22
6,901.56
1,142.33
649.00
2,198,09
284.31
482.30
295010
$ 11,432.83
60.27
.15
42,672.38
$ 11,493.25
11,493.25
BUDGET APPROPRIATIONS
NO\7Ej\mBR 1, 1955 to OC~I)B'3:n. 31, 1956
CITY OF ~~~t:.~~}':"1pRIDA
APPROPRIA TED AJ'l"'FO?BIL 'J:'ED
ORDINANC~ ORTJINJ..NGE APPRTOOPRTALIA <nm"I EXPENOTID
#82 #"1.03 ). ~lJ
~PENDID)
OVER-
EXPENDEDIf
General l}o7ernI:leLlt $ 7,760~00 $ 1,280000 $ 9,040.00 $ 8,428.45 $ 611.55
Street Department 11,500.00 5,200000 16,700..00 16,998.02 298.02~
Street Lights 1,800.00 -0- 1,800.00 1,718.22 81.78
Police Department 5,900.00 640.00 6,600.00 6,901.56 301.5@
Fire Departrwnt 1,250000 -0- 1,250,,00 1,142.33 107.67"
Emergencies and
Contingencies 1,000.00 -0- 1,000.00 649.00 351.00
Community Center 2,100.00 759.00 2,859.00 2,198.09 660.91
Library 500.00 -0- 500.00 284.31 215.69
TOTALS $31,870.00 $ 7,879..00 $39,749.00 $38,319.98 $ 1,429.02
1!XHIBIT "c"
CAS H R E C 1<.: I P TS A.N:-: D I S BUR S >;: M ~ N T S
FB.:BRUARY 1, 19~4-_~[.' O:;'10BER 31, 1956
CO:MFU~=':'J'Y CENTER FUND
CITY Oi!' EDG1N!\ TIm., FLORIDA
RECEIPTS
Loans Received
Refund of Service Charges
County Commissioners
City of ~gewater
Fire Department
Dredging Fund
Auction Sales
Television Raffle
Air Condition3r Raffle
'Dances
Parties
Donations
$ 1,175.00
. 1.5.78
1,000.00
6,9C!2. .00
950.&
16.50
1,03.5.90
707.81
"397.50
1,095.91
1,886.42
5,748.73
TOTAL REC1<.:IPTS
nISBURSB~TS
Construction Material
Construction Labor
Bank Service Charges
Television
Supplies
Recreation Equipment
Lights
Gas
Kerosene
Printing
Office
Soft Drinks
Air Conditioner
Hall Furniture, Fixtures and "G'.quipment
Loans Paid Back
$ 14;71.5.70
1,484.55
20.30
160.00
158.42
151.45
401.30
16.70
92 .06
94.72
1.50
110.48
180.00
1,576.69
1,075.00
TOTAL DISBURc;)BMENTc;)
BALANCE 'I'() B~ ACCOUNTED FOR
ACCOUNT1ID FOR AS FOLL01l'S:
Bank of New Smyrna
EmIBIT fJ D "
$ 20,992.19
20,238.87
$
753.32
753.32