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2003 .. All Numbers in This Report Have Been Rounded To The Nearest nnll;:lr ANNUAL FINANCIAL REPORT UPDATE DOCUMENT For The TOWN of Wappinger County of Dutchess For the Fiscal Year Ended 12/31/2003 p.E.CE.NE.D \II~'{ ~ ~ ?\i\)~ "'\ CLSB\<, 10'J'J \ 'l ************************************************************************************************************************************* AUTHORIZATION ARTICLE 3, SECTION 30 of the GENERAL MUNICPAL LAW: 1. ***Every Municipal Corporation *** shall annually make a report of its financial condition to the Comptroller. Such report shall be made by the Chief Fiscal Officer of such Municipal Corporation *** 5. All reports shall be certified by the officer making the same and shall be filed with the Comptroller within sixty days after the close of the fiscal year of such Municipal Corporation *** It shall be the duty of the incumbent officer at the time such reports are required to be filed with the Comptroller to file such report *** State of NEW YORK Office of The State Comptroller Division of Local Government Services and Economic Development Albany, New York 12236 Page 1 TOWN OF Wappinger *** FINANCIAL SECTION *** Financial Information for the following funds and account groups are included in the Annual Financial Report filed by your government for the fiscal year ended 2002 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2003: (A) GENERAL (B) GENERAL TOWN-OUTSIDE VG (CD) SPECIAL GRANT (DB) HIGHWAY-PART-TOWN (FX) WATER (G) SEWER (H) CAPITAL PROJECTS (K) NON-CURRENT GOV ASSETS (PN) PERMANENT (SL) LIGHTING (SM) MISCELLANEOUS (SS) SEWER (SW) WATER (T A) AGENCY (V) DEBT SERVICE (W) NON-CURRENT GOV LIABILITY All amounts included in this update document for 2002 represent data filed by your government with OSC as reviewed and adjusted where necessary. *** SUPPLEMENTAL SECTION *** The Supplemental Section includes the following sections: 1) Statement of Indebtedness 2) Schedule of Securities for Collateralization 3) Schedule of Time Deposits and Investments 4) Investment Certification 5) Bank Reconciliation 6) Local Government Questionnaire All numbers in this report will be rounded to the nearest dollar. Page 2 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Balance Sheet ai::~Pmi.ttt~))))/)):tt:::)))))))))H))))))))~t:~:::H:tt::::ttttt))):tt@::}:::))))))~ttt~)))):ttttJI:::::)))))~tt~:tt:):II:::::~tWftMi):n~:/itttJ~OO~))):tt~~~H Assets Cash In Time Deposits 576,281 A201 413,182 Petty Cash 800 A210 800 Investments In Repurchase Agreements 0 A451 0 Accounts Receivable 58,083 A380 38,448 State & Federal, Other 218,121 A410 234,108 Due From Other Funds 38,432 A391 256,086 Prepaid Expenses 8,659 A480 14,500 Page 3 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Balance Sheet 1$..lflimi@l.pjjOO\\j//j\Jj=jttj\:::?:j:j/=j:=:\\/\\\=jjjjjjjjmj:jj:/:/Jj?/?jJJ/\\/J\/\:j:\i/((:jjj:j:j:::j:j:jjjj:?:\/tj?j\Jmm\mtj\m/:]IJJmmmmmmM~~\m??jJ\/'lI\j(mm!M~t/=mj:::t::j:jjj:j:J\j~~j(rtjj==///:1 Liabilities And Fund Equity Accounts Payable A600 Page 4 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation ~~i~H~iilMl.fffffffffff::fffffff:=::::::::::ff::=:fff::fffffffffffffffffffffff:(=f=::::(:f::f::ff:=fC:::::::::::::f:=:Wfffff~(((:f:(II:((!'ijli:ii$.t::fll::((((:filiP.~((:f::::::::::1 Detail Revenues And Other Sources Real Property Taxes 1,323,997 .......... ............... . . Tqt~4:f.i~at~l'()~rtyt~eli> ,. .. . 1,324,052 A1001 710 A1081 66,259 A1090 A1232 A1255 A1603 A2001 A2089 A2401 A2410 100 A2530 4,206 A2544 139,208 A2610 2,339 A2611 150 A2655 1,752 A2680 4,425 A2690 A2701 A2705 A2770 A3001 A3005 A3040 A3060 A3089 415 80,273 Tax Collector Fees Clerk Fees Vital Statistics Fees Park And Recreational Charges Other Culture & Recreation Income St Aid, Revenue Sharing St Aid, Mortgage Tax St Aid, Real Property Tax Administration ST. Aid, Records MgmT. St Aid - Other (specify) 100,000 1,214,748 10,020 8,504 22,688 Page 5 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation ~ij{lif~I$i))))))):I})))))))))))))))))))):((((:)))::))))))):::(((::::(:))))))))))))))i(:))idl::(((:))~OOlt(((((:II((:e.~I$.ij{lifiJk(::::::(:):~:(:)))::J Detail Expenditures And Other Uses Legislative Board, Pers Serv Legislative Board, Contr Expend Supervisor,pers Serv Supervisor,contr Expend n. .... . .......... .......... .. T~"fAL~Urfflwtii9.~\ <.\.... .. Comptroller,pers Serv Comptroller, Equip & Cap Outlay Comptroller, Contr Expend Tax Collection,pers Serv Tax Collection,equip & Cap Outlay Tax Collection,contr Expend Assessment, Pers Serv Assessment, Equip & Cap Outlay Assessment, Contr Expend Personnel, Contr Expend Engineer, Contr Expend A10101 A10104 A11101 A 11102 A11104 A12201 A12204 A13151 A13152 A13154 A13204 83,750 A13301 0 A13302 4,736 A13304 A13551 A13552 A13554 A13804 A14101 A14102 A14104 A14204 0 A14304 30,890 A14404 A 14501 A14504 A16201 A16202 A16204 21,682 A16604 81,135 o 2,562 60,378 Buildings, Pers Serv Buildings, Equip & Cap Outlay Buildings, Contr Expend 'tP!~ij~yj~ffil~.. ..:.::. Central Storeroom, Contr Expend rq!~b9~@'~~$:~gWrR9ffi)/. . Page 6 OSC Municipality Code 130386800000 . TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation Iljl~J:ijit@mmt/:f@{//rr:f@rr/r////////r///////////r///r////////',',':':r':/""':'f:///':':////::::::/::/:':':'/II:///r/:E////'f@r':::~i:lMlljliff:m///:f::':':~~f/':/":""'J Detail Expenditures And Other Uses Central Print & Mail,contr Expend A16704 Street Admin, Pers Serv Street Admin, Equip & Cap Outlay Street Admin, Contr Expend Garage, Contr Expend ..... .... T?ltAL GaraQe .. TOT~4 ]J~~$.PQ~ation... .. Parks, Pers Serv Parks, Equip & Cap Outlay A71101 A71102 Page 7 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation ~Jm.itP.i~~ij.rrrrrrrrrrrrrrrrrrrrrrr{rr~:~:~:~~r:~~:~:~~rrr:((:{rrrrrrrr:(:::~:~::((:::::rr::{rrrrr:((::::(::(~rrrll(::(:rr@qoorrrrr~~II~~(J;i:lP.Q.Jm.itr:~m:~::::r::::::::J~@~W:~~:(~:((J Detail Expenditures And Other Uses Parks, Contr Expend 111 ,106 A 71104 Historian, Contr Expend A71401 A71404 A71454 A741 04 0 A751 04 0 12,313 A75504 31,640 A761 04 A76201 A76202 A76204 .. . . . .. . .. . . . . . . . . . . . . . . . . . . . . . . .. . . ....... .. . . . TO!AL:~r~~f.~~@f>): : . Adult Recreation, Pers Serv Adult Recreation, Equip & Cap Outlay Adult Recreation, Contr Expend Celebrations, Contr Expend Programs For Aging, Contr Expend Refuse & Garbage, Contr Expend . ... ..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. tOTA~:ij~fWl~~$!tij!ij~) .... Comm Beautification, Contr Expend State Retirement System Social Security, Employer Cont Worker's Compensation, Empl Bnfts Life Insurance, Empl Bnfts Unemployment Insurance, Empl Bnfts Disability Insurance, Empl Bnfts Hospital & Medical (dental) Ins, Empl Bnft Other Employee Benefits (spec) A90108 A90308 A90408 A90458 A90508 A90558 A90608 A90898 59,436 89,116 7,428 3,414 2,854 1,990 223,771 5,515 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 220,425 35,000 A971 06 A97306 Debt Interest, Serial Bonds 175,519 A971 07 163,102 Page 8 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation iij~ifpijMijiWif.tttttttit(::((((:t::t::t::::tt:::::::t((:ttttttttttt::t~(((((((((((:ttft::tttftttttttttttnttt::ttRttttt::II(:::::l!1i:lIm~~ttHtttttJOOg~tfi(:::::H Detail Expenditures And Other Uses Debt Interest, Bond Anticipation Notes 990 A97307 0 Transfers, Other Funds 59,625 A99019 4,000 Page 9 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Changes in Fund Equity 19.aa.lf~$itlW.iift:::::)))))))))))):::::m::):ttt:::t:::::::::t:))))))))))))))itt:j:j:::j:::))))t):t@!:!:Itttt:)::)::::::j:j:::::)itll:tttt:)i~o.~t:::ttt::)II')i~aRQ.~~:,,)H)j:j:j:j:)::::)@.mttt::::t::t:1 ANAL YSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 750,453 750,453 3,202,036 3,214,850 737,639 737,639 737,639 3,123,839 3,033,919 827,559 Page 10 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Budget Summary tiait@i$iil.P.!mf):r::::r:t)::tttt))t:,:rrr:)::)):(((((:))t::tllr:~iit.~:(ll:(:)Qijs.iiW_)':)m::::::::':M~~:~))tlr:'::))(:mf~t.i&iit:::::::::::::II:r'A\ilii.ii~i~f$w.~tn Estimated Revenues And other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Non Property Tax Items Est Rev - Departmental Income Est Rev - Intergovernmental Charges Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - Fines And Forfeitures Est Rev - Sale of Prop And Comp For Loss Est Rev - Miscellaneous Local Sources Est Rev - Interfund Revenues Est Rev - State Aid Est Rev - Federal Aid t&tAUj$liji~i~ijRcN~~ij~~...,. Estimated - Interfund Transfer Appropriated Reserve Obligations Authorized Estimated - Proceeds of Obligations Appropriated Fund Balance ...............................,.............................................................. T6fAjjEaimatlM~is6utces . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . j@tAIili~~~i~tOOt{~~~~iji~Aij~pjh~rijgGf~ A1049B A1099B A1199B A1299B A2399B A2499B A2599B A2649B A2699B A2799B A2801B A3099B M099B 1,324,037 55,000 o 23,000 o 146,390 4,600 147,500 o 1,000 o 718,000 o 1 ,324,037 75,650 o 23,500 o 158,890 4,600 117,200 5,000 1,000 o 1,005,554 o Hn~;rj~,~1j 7,845 o o o 390,973 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..................................... ........................................3. .11.. S.. ...1. ..1.. g.... .................... . . . . . . . . . . . . . . . . . . . . . . .... :~:~~~~~:f:f:f~f~f:f~f~f:f~f:f~f:f:f:j:f:f:::::::::::::i~:::::~::::.:.i: }~aM;~~ /<::}'!~~;j~t A5031 B 15,045 A511B 0 A530B 0 A5799B 0 A599B 350,000 .................,..........,................................ !!!:;~I[~I Page 11 o 20,650 o 500 o 12,500 o -30,300 5,000 o o 287,554 o }~~i~~ -7,200 o o o 40,973 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .~~;tt~~~;~t HH...........................~~,~tr ..i..................~g~!,~9~.. 1 ,291 ,802 55,000 180,000 88,000 o 160,000 4,600 132,500 o 1,000 o 958,800 ..",...................... ...............~.....$.. .7. ........7.. ~...2. .... ......... ., . ....... . .. . ......... .. . ::::::::::::::,:..):...:.4(......::..,. o o 395,307 o OSC Municipality Code 130386800000 (A) GENERAL TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Budget Summary t&ijit@iMrl_))))))!rtrrrrrr:!!r:::!:)))))))))):rr:))lI:)if#.~)'II))]:~ij.t$Wi:))lIrrr~igl~))m@)))J).,ft~t.im.ijt!rrrIW)~'!iliil.l$.f~r:!1 Appropriations And Other Uses App - General Government Support App - Education App - Public Safety App - Health App - Transportation App - Economic Assistance And Opportunity App - Culture And Recreation App - Home And Community Services App - Employee Benefits App - Debt Service A1999B A2999B A3999B A4999B A5999B A6999B A7999B A8999B A9199B A9899B 1,335,595 o 36,455 3,000 136,472 1,225 519,510 14,350 352,200 385,765 1 ,606,464 o 33,490 3,500 154,472 1,225 505,185 14,400 405,748 385,765 -270,869 o 2,965 -500 -18,000 o 14,325 -50 -53,548 o 1,538,118 o 34,910 3,000 159,592 1,225 542,343 105,514 381,700 500,607 Other Budgetary Purposes App - Interfund Transfer o o A962B A9999B o o o 4,000 o -4,000 Page 12 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet PMlfpjMijE@:::::::rr::::::::::::::/ri??????:r:::::,rrr:???:rr??::::?:rrrrrr:::?@::::?:rr:::r::rrrrr:?:::::::::,:::r:::?:::rrrrrrrr::II??:rrrr~?:rrrrjlritiilMq~frllt'::r::::::::::r@Q.$.?:rr',',rJ Assets Cash In Time Deposits 225,038 B201 8,180 Investments In Repurchase Agreements 353,428 B451 355,762 Accounts Receivable 60,444 B380 77 ,721 State & Federal Receivables 298,728 B410 378,825 Due From Other Funds 296,837 B391 265,450 Prepaid Expenses 0 B480 1,999 Page 13 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet t.imiftMiAAlP.OOtfirr:\ir:::/\\i?r??rtr:::::::::::::/iim:m:::m:mrt?r:m:rm::r:m:i?It??t?::t:::\m::::::::::::im:fff':':':\i::r:m::::::::m:mm??:\:::IWf::::r:?:::::\:~~~:???:t:r?JIm:m::s.m.~tm:m::m:::r:?r??~~m:fm?::??mm Liabilities And Fund Equity Accounts Payable B600 125,210 ............ .... ......... . . ..r~~;~'p B601 116 Page 14 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Results of Operation looifP.tilID.iifilr::::rrrrrrrrrrr:(:rrrrrrrr::::::::::rrrrrrrrrrr:::::::((:rrrrrrr:(:r:((rrrr::rrr::::::rrrrrr:((H(:rrrrlQ.M:rrrrrm:::::(i.{l~:::r::H((:r::r:J!1P'!iilrr:((:rl Detail Revenues And Other Sources Real Property Taxes 0 B1001 0 Sales Tax (from County) 990,564 B1120 1,077,710 Franchises 191,972 B1170 206,145 Contributions, Private Agencies-Youth 12,980 B2070 20,610 Zoning Fees 5,550 B2110 8,530 Planning Board Fees 53,976 B2115 95,348 Refuse & Garbage Charges 26,816 B2130 28,320 Interest And Earnings 15,189 B2401 4,073 Permits, Other 142,280 B2590 164,821 Sales of Equipment B2665 229 Insurance Recoveries 220 B2680 0 Refunds of Prior Year's Expenditures 1,985 B2701 0 Unclassified (specify) 3 B2770 9,169 St Aid, State Revenue Sharing 50,000 B3001 119,526 St Aid, Other Aid (specify) 2,000 B3089 0 St Aid, Other Aid For Public Safety 0 B3389 0 St Aid, Youth Programs 8,517 B3820 7,204 Page 15 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Results of Operation l@@ifpij~AA.:::':'r:':::'r:':'::::rrrr.tttttt:::r:t:rr:tt::::::t::t:::::r:'r:'r:t:rrrrrr.t:rrr:ttttttttt:rrrrrrrrrit:':rr:'lIt:rr:tt~rr:t:rrllt:::J~ijp.p.@ifr::m.::t:rit::200~::r:t::':::'::H Detail Expenditures And Other Uses Fiscal Agent Fees, Contr Expend B13804 Police, Pers Serv Police, Equip & Cap Outlay Police, Contr Expend . ........ TOTAL POlicli. .':..' ..:.. . . Safety Inspection, Pers Serv Safety Inspection, Equip & Cap Outlay Safety Inspection, Contr Expend Youth Prog, Pers Serv Youth Prog, Equip & Cap Outlay Youth Prog, Contr Expend Zoning, Pers Serv Zoning, Equip & Cap Outlay Zoning, Contr Expend Page 16 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Results of Operation ~WifMl.Mf:im!iif??jttttt:j:j:j:?::j:j:j'j'j:???????????????????::?jt:j':':::':'::??????:t:??????,:????::::::::??????????"':lIt,????j~",,:,'ttt:::II:??~ijiWWif::?m:,:,::::??jt~~?:t:jtt:J Detail Expenditures And Other Uses Planning, Contr Expend To.TAL ~tinffiij< .<.... .. ...".. . ....... Refuse & Garbage, Pers Serv Refuse & Garbage, Contr Expend Drainage, Contr Expend 2,958 27,414 8,641 1,023 141 918 41,130 o B80204 B90108 B90308 B90408 B90458 B90508 B90558 B90608 B90898 14,732 32,442 9,135 1 ,428 o 1,121 63,197 o Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 163,592 75,000 B971 06 B97306 153,100 75,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 40,914 1,779 Transfers, Other Funds B971 07 B97307 B99019 100,000 Page 17 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Changes in Fund Equity ~i.l.ifOi@.flM1M::))))))))))))))))::::::::))))))))))))))))))::)::f/:::):/:)://:::::)))))))))))://:::)j:i//:)))HI:///::::::::/miQ.~\)))ff::W::/lii~P.laW)::mm/:))i/~l*-~t))j/t:::::1 ANALYSIS OF CHANGES IN FUND EQUITY Prior Period Adj-Increase To Fund Equity 1,665,574 347 B8012 1,665,921 1,502,052 2,032,555 1,135,418 1,135,418 ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 1,135,418 1,741,685 1,919,881 957,222 Page 18 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (8) GENERAL TOWN-OUTSIDE VG 8udget Summary ~Q.4.Wi:w.~_))))))))))))))))))~~~:~~~~\::::::::::::::::)):::~~:~~)))II(~l(N.!S.~:(Hi(J;miMW~))::II(((M~li:liWiMilXm)))lk\)m~p~t.iij@lt(ttIWtA~ii.iOOjf~~):1 Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Non Property Tax Items Est Rev - Departmental Income EsT. ReV. - Intergovernmental Charges Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - Fines And Forfeitures Est Rev - Sale of Prop And Comp For Loss Est Rev-Miscellaneous Local Sources Est Rev-Interfund Revenues Est Rev-State Aid Est Rev - Federal Aid 810498 0 810998 0 811998 880,000 812998 89,000 823998 0 824998 12,000 825998 75,000 826498 0 826998 0 827998 0 82801 8 0 830998 50,000 840998 0 :M1~~~q99: 850318 0 85118 0 85308 0 857998 0 85998 545,403 . . . . . . . . . . . . . . . . . . . . . . . . - . . . . . . . . . . . . . . . . . .......................................... :/~i~~~~1~~ m:~::M~~MAM !tQIA~'~,iWi(,~B'v'~y#~))nH Estimated - Interfund Transfers Appropriated Reserve Obligations Authorized Estimated - Proceeds of Obligations Appropriated Fund 8alance .................................................................................................... !9tfflgg~!m#~#.~9m#f~9Yf#~#i J*it4~~g~(i~ij@g~y~~~~~!W~Qth~f~~~r~) Page 19 o o 1,055,000 129,000 o 3,800 153,200 o o o o 50,000 o . .j;~~j;qq~ o o o o 558,296 ................................... . . . . . . . . . . . . - . . . . . . . . . . . . . . . . . . . . . . :::::::::::::::::::::::::::::::::::::::~5" 6::2' ':ft&: j~j:j: ::j:~:~: ~ ;~:~:~:~:[; :::::::~:~[~:':':'~~':':~~~; (::);lM~~~~~ o o 175,000 40,000 o -8,200 78,200 o o o o o o U.........:H~~i99~ o o o o 12,893 ................................. )jz;Q~ .................................. ................................ ................................. ............................2...9. ..:,;;........: ~t~~~~t~~><><~~>::..:....~;;~~~~ .................................. o o 978,600 84,000 o 4,000 85,000 o o o o o o ..:...1#M;~9~ o o 355,207 o ................................ ................................. ............................3. ..65.... ..2" .0. .7.... ............... . . ................ .... ................. ... . :::::::;:::::::::;:::::;:::;::::::.:.:.:.:::.::~:.:.:.:.:::.:::: .......:U'~~9!;~9t OSC Municipality Code 130386800000 (6) GENERAL TOWN-OUTSIDE VG TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 6udget Summary P................ -rilT.Tn-~'~""""""""""""""'" ......... ............... rrll............ ......... .11.................. T:TiTiI" Tn-mi........ IiI' T' ....n-!...... ..... ...11.............. ...iT........ rrrw........ ............. ......... '1 :::j4.lf!M$i:@:....::...}:::::::::::::t::::tt:::::::::t::::t::::::t:::::::t::::t:::::::::::::::::::::::::tt::::::t::>::J.:~C.'Q.$.fdtt@llW.t~M~Q!~~::::t::::::::::::JMi:lif.Iim:~:::::::::::>::::::::tOIffl.lt.~jW~:::ttt::::::A.q@W.W~OOi:f:::: Appropriations And Other Uses App - General Government Support App - Public Safety App - Health App - Transportation App-Economic Assistance And Opportunity App - Culture And Recreation App - Home And Community Services App - Employee 6enefits App - Debt Service 619996 639996 649996 659996 669996 679996 689996 691996 698996 151,500 347,959 o 28,000 10,000 170,604 327,964 94,580 270,796 199,000 433,859 o 24,050 13,500 172,347 612,164 123,580 270,796 -47,500 -85,900 o 3,950 -3,500 -1,743 -284,200 -29,000 o 151,500 364,367 o 28,000 26,000 160,646 304,346 124,498 247,448 Other 6udgetary Purposes App - Interfund Transfer TB;~~qi~~~ij~~:.:n t9t~~~PPt9~~!~~~?~8~~M~~~#:H 69626 699996 .......'.'...-...-.-.-.-.-.-.......'...-.-,-.-..........-. ............................... ............................... ............................... ............................... ............................... ,.............................. ............................... .......................... .. ......................, ............................... ............................... ............................... ............................... . . . . . . . . . . . . - . . . . . . . . . . . . . . . . . . ............................... . . . . . . . . . . . . - . . . . . . . . . . . . . . . . . . ............................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................... ............................... ....................... . . . . . . . . . . . . . .. .. o 250,000 :::~M;~im\ .......................................... '~~~1i:"~~U Page 20 1 00,000 j9~;AA~: d~M~;g~..:.:...:. o 150,000 ....,.,.......... ..1~9;iijiij..... .......................... ~t=;~~.. o 100,000 .....................~~~:~;I~.. OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Balance Sheet ~iB~AA@iijii@?~}:?~:~::::rrm~::r:::m:~r:?????????{?????::????::::?tt::I~:::???:r:::::?:@:~rr:?:r:??:rrr:::????????~rr:{Wrr:::::::::?::t.W1t?::?{?Mli]t;iiq~l$.f?1l:m}:?:rr:::~~ir:?::?tM Assets Cash In Time Deposits 44,966 CD201 1,983 o CD410 State & Federal Receivables Page 21 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Balance Sheet t&lWI$@1l~,t(())))/))/)//)))i(:'tt:)':/it:/::::::i:i(:::))):tt,::::))'ttt')):':':'/itt:::::tmit:::::))/'tt::::::t:':::))ill)))'tt(t~~~/'t):::::::::/im/dt;OO~Miit':/H'tm/:::::/it~~)/::/::::/::::/I Liabilities And Fund Equity Accounts Payable 24,720 CD600 0 Due To Other Funds o CD630 Page 22 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Results of Operation tml,f~m11;ii.t::)))))))))))::)))))))))))))))))))))))))))::))):::t:)))):tttt:):ttttt:))):ttt:))Jb::))))lQ.p;t))))ilIitU&.lp@@i:))II::::::ttt:)f.OO:$.tt:::::::)::::l Detail Revenues And Other Sources Community Development Income 0 CD2170 0 Interest And Earnings 40 CD2401 81 Fed Aid, Community Development Act o CD4910 45,000 Interfund Transfers 55,000 CD5031 o Page 23 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Results of Operation !e.OOifMlMft&???i\\\(:::::?i\:i:i::\:::i:?i::?????:\\:?????????????iI\\\\\:i:::::?????i\\\\:?i\\\:::?::::::::?i\\\\:II\:????:_?::::::?::f::n:??l!1ijl$.l!@ii.??Hfi\\\\~~?:\\\\::I Detail Expenditures And Other Uses Spec Proj For Elderly,equip & Cap Outlay 36,086 CD86702 63,344 Transfers, Other Funds 176 CD99019 o Page 24 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Changes in Fund Equity ~Wijj;miij$.p.Mf{{{{,:{,::t:{::{::{{::::::::::::::::::::{{:t::::tttttt:{{{{):tt:::):t:)::){{{){))){{{{{::),:'tt::tt:::::::{::::::{)):tll){:::::@:{:::~{{{{:':':Hlt::::l!ii:lgi,liiie{lW:){{::::::::~$.(::::::::::::::::::::1 ANALYSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 172 172 55,040 36,262 18,950 18,950 18,950 45,081 63,344 687 Page 25 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Balance Sheet aiJil@iilmUt{{:?:::{{:?:{:???:::::::::{::::::::::::::::::{{{{{{{{{{{{{{):??:{{{{:::?:::{{{{{))))::):??:{:?:::::::::::::::{{{:?:::::{W:{{{{{J~f;l!W:::{{::{:::::::II::{~Mi.C.~m~f{II????::::{~~r{::{:?:H Assets Cash OB200 Cash In Time Deposits 300,692 OB201 106,433 Investments In Repurchase Agreements 0 OB451 0 Accounts Receivable 0 OB380 4,228 State & Federal Receivables OB410 472 Due From Other Funds 0 OB391 0 Prepaid Expenses 0 OB480 4,275 Page 26 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Balance Sheet ::~~:::m:m:m:m:::rmm Reserve For Encumbrances o OB821 Page 27 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (06) HIGHWAY-PART-TOWN Results of Operation t&.lifJ~iil.MijW&.l)):/:)))))))))))))))))::::::)i/::::)::i:://:)):///::::::::::///:)))i/:::)::::)))I))))::))://///::::::::/::::H/////:Zl~::/:::::::::::::JI:::/J@P$.Mi:))II/////Mi~~::/::::::::::::::"'l Detail Revenues And Other Sources Real Property Taxes 1 ,327,000 061001 Transportation Services, Other Govts 1,471 062300 Interest And Earnings 14,171 062401 Sales of Equipment 0 062665 Insurance Recoveries 2,839 062680 Refunds of Prior Year's Expenditures 1,678 062701 Unclassified (specify) 0 062770 St Aid, Consolidated Highway Aid 104,551 063501 St Aid, Suburban Hwy Improv Pro 0 063502 1,530,825 5,377 9,698 116 578 59,996 104,536 Interfund Transfers 538,797 065031 100,000 t9!~hP~"fl~m~~~~l@~Pili~r'9Y~ .......................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..... ........................... . . . . . . . . . . . . . . . . . . . . . . . . . . . ....................... ........................................ . ............................... .. ............... ........ Page 28 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN OB51101 OB51104 Brush And Weeds, Pers Serv Brush And Weeds, Contr Expend State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Life Insurance, Empl Bnfts Disability Insurance, Empl Bnfls Hospital & Medical (dental) Ins, Empl Bnft 8,136 63,281 61,877 2,107 1,069 142,757 OB90108 OB90308 OB90408 OB90458 OB90558 OB90608 41,829 68,715 60,640 2,320 796 141,166 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes OB97106 OB97306 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes OB97107 OB97307 Page 29 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Changes in Fund Equity ;'Wif!im$#lP.Mj:t:::::rr::rrrrrrrrrrr:t:r:tt::t:::::r:::::::::::::::t::ttt:::rrr:::t:::::rr::it:rritt:::::it:r::rrr::::rrr::rrr:::::::t::::t}llrr:::ttt::~lt#rr:irrrll::?::~a.imWw::Jm:t:::rr::::::~3.::::::::ttttJ ANAL YSIS OF CHANGES IN FUND EQUITY Prior Period AdJ.- Increase In Fund Equity Prior Period Adj - Decrease In Fund Equity ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Page 30 287,045 156 DB8012 o DB8015 287,201 1 ,990,507 2,114,760 162,948 162,948 16,000 o 178,948 1,811,126 1,887,134 102,940 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (08) HIGHWAY-PART-TOWN 8udget Summary gMMOi~im.mWIf??ittt:i:i:::?????:t:i:i:i:::i:iiit:?i,::t:::::'?::::i'?itttt!W'i:~~t.~itlm::'mi:P.t.l.~~f~:::":?lItt:i::M~~i!ooait:i;?II:??:;iJ:ilm.ittiiW:::i:?im~::{A~M.iliiiiifHir::1 Estimated Revenues And Other Sources Est Rev - Real Property Taxes 0810498 1,530,825 Est Rev - Real Property Tax Items 0810998 0 Est Rev - Non Property Tax Items 0811998 0 Est Rev - Oepartmentallncome 0812998 0 EsT. ReV. - Intergovernmental Charges 0823998 1,500 Est Rev - Use of Money And Property 0824998 10,000 Est Rev - Licenses And Permits 0825998 0 Est Rev - Fines And Forfeitures 0826498 0 Est Rev - Sale of Prop And Comp For Loss 0826998 0 Est Rev - Miscellaneous Local Sources 0827998 0 Est Rev - Interfund Revenues 0828018 0 Est Rev - State Aid 0830998 0 Est Rev - Federal Aid 0840998 0 [9tAij~~!imii~~R~@ijij#.[::!::j;~~~i~*-j Estimated - Interfund Transfer 0850318 250,000 Appropriated 085118 0 Obligations Authorized 085308 0 Estimated - Proceeds of Obligations 0857998 0 Appropriated Fund 8alance 085998 150,000 ~..::....."',:.......:..:...:T...:.....A.:..,:...'.i.'.'..,..',.'.:.,'E...'...'..."........:..:...:..j:.;....:..:.:..::..:.:...'.'.'......':..,,:........:."':.....:...:..,:....,:...:...:.:,..:...:..<.".::..'....:.::..'...".......,.'8.'...:..'..;;...:.:.:..;.:,,'..:.:.:[:..:.:......:..::..".'.."..;;...'."..::,:..:.:.........:..,:...:...:.......:..,...,:..,:..::..::..::..,:..,...,....:...........:...........:..............:...:'.'.'.'.:.:.:.:.:'.:'.,.,-, ,":,:,:,:,:,:,:,:::",:":":,,,:,:,:,:,:,:':<:,",,,"'4&ffaGa""" ::ru I;;; M JUA11:U UU1'G~'; ~w w.~;;:Il <{rr?)~~<>>)tr)<>>:((?><r::::::::::::L::.:.:.i/> Jqr~g,~,!iiij;~R~~~~9~~i~ifflit~9~t~::i1~4*~Ui Page 31 1,530,825 o o o 1,500 10,000 o o o 55,000 o 104,536 o !.,;t9.1iAA1 100,000 o o 150,000 ...................... ,...,..:,.:,.:<<,:"",,~~~;~~ij >>>:::~,MMm!1 o o o o o o o o o 55,000 o 104,536 o . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . ....-..-......-...........-.-.-.-.-...1... -$--$--...~. --..$'. .-. ...................... . ................... . .................... .. . ;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;:;=::::::":"-:"':('-:"-:'.-::; -150,000 o o o o ..................................... )...<)..@~ij;ijij~...> ....................................... ...................................... .-........................................ ......-.........-...........-.-...-.-..-......-.."',,:...... ))))........!iI:;~~( ...................................... 1,592,748 o o o 1,500 10,000 o o o o o o o ...}1~~q~;~1 415,000 o o o 50,000 ............................ ................!~~;99*. H.~~q~';~#~.. OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (OB) HIGHWAY-PART-TOWN Budget Summary t~i]~iiij$.iWW.f//:{{{i/::::@:::::::::::::::{::::{{{{{{{{{{i/:{{{{::II/f(mit.~~:}H::{{lm.liirl@~mr::::m:::::::::::Mmli.~n~~i//:I!:::{{:n~llUt~::{{:/I!{:A~\i.ili.!f~MrH Appropriations And Other Uses App - Transportation App - Home And Community Services App - Employee Benefits App - Oebt Service OB5999B OB8999B OB9199B OB9899B 1 ,455,000 o 300,925 186,400 1,447,036 o 319,625 185,200 7,964 o -18,700 1,200 1,504,250 o 342,362 222,636 Other Budgetary Purposes Interfund Transfers OB962B OB9999B o o o o o o Page 32 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 ~iJ:~;j@.S.}::::}}}:)))))::))))):}}}::}t):~:::::):}:::::::::)))))))))t)))))t:}::::::::\:::::::::::~t:::~::)::\::::::::I:}::::::}}}}}}:::ll}\:))))~~::::))):::::::II:::J#lP.c.~mW)II:)):}}}:::~~:::::::::)))H Balance Sheet Page 33 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 ;'i;@iJM@1:lffl.!ij,ifit::::M::m:f/fMf::Mf::::m:::::mr:m::?:f::::/mr:::::::m:f::MMf:r:m::::::tifmt:m:::::::m:::m:fM::::::::m:m:/::::::m::::::t::r:/fM/MMf:r:mII:::r:f:::t?:m::'l>>:~ii/::::m:m::::tlIM/:ioo~:::m:mM::m:m:::mt:::m~~::::m:::::fi:m:::::::i Balance Sheet Page 34 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Results of Operation tmlifPiMfti$il::::::::it:::::::::::t:::::::::t:::::::::::::::::::::))))))::::))))))):ttttt:::::::::::::)))):t:::::::::))):::::::::tt:::::)):::::tttt(:::::::::::::::::::)iH:::::):tt}~P'l})!t:t::::tt:m(:::::~{lp@l.$.f::::::::Httt:::::::::::~mt.~::::::::::t(:::::j Page 35 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Results of Operation tmlifP.filffi_)){)((:)):(:){))):(((((((t::(((:)))i(:):~::){::){)))){{)))){:(t::::~){):t:{::::))){::{:::::~:::~):dl~~(((t(~Q$.t:))):t:::Ht('ltiijP.:Q.mliKt:H{{)::)~(~))):t(::l Page 36 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (FX) WATER Changes in Fund Equity tMl.~tP.i@.i1W.j:ijfttt::tttit;t::{ttt:::::::::tt::ttttttttt::tttttt:ttttt:tttt:ttttt;tttt:ttt::;:;:ttit:ttttt:::tllitt:::::::::{;_:t:ttt::tm}:;~i:lMl.ml~:::tlW@;::t:t:::::~$.::;;::;:;t:t::t:1 ANALYSIS OF CHANGES IN FUND EQUITY Page 37 o o o o o OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Budget Summary ~<<lit@iiWlili.f:)))))))~///:))))):///:~:::~:~/li)))))))::lI/:~*it.~:/IW))@lim~I::~)j/:l[::::::JM.ijj~~)))I!/:))J)Iffl.itj~:~:::::::)~:~m:~mAij~j~#~i,t~:)~1 Page 38 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Balance Sheet Pi:@lfP#.MrlJ@iit::ff::::,:::::::::::'::::::::)f)f)f)))))))f)))))))))))fff:tt:)iJJ:):J:))it:::)))f)::::::):J::JJJ}J:))))II'))))~J:::~Q1.t~:~:~:~::@ltll)J#iiC<<ii)WJ:::))))"~~')iJJJtl Page 39 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Balance Sheet ~*M:m~im.rr::::r::r:r:::w::::rr:::/:r::::r:::::::::::::::::::::::::::::::::::::::?:::rrrrrr:r:mr:rr:r:::r:/:t::r::trrr::::::rr::::::m:::rr::::::::::::::::::::::::::r:::::::mI:::::::::::::::::::::::::::::~!>>.~r:::::::::::::::::m::Hli?Jilili@.t:::::Ht:::::::::::::::::::::::::~~:::/:::::::::::::::::::::::1 Page 40 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Results of Operation le.fu'lit~rAA#t:::::::/i(://f///i((:::=:::ff/////f///////f:((::=:://////:((:/:((=/:::::::://f/f////:::::::::((((::((::::W::::::::://Jat>>~:::f///:::lI/:(!ipg:::::/II:/f//fJIOO:~:/=((::/l Page 41 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Results of Operation ~iilifI1ilMijP.Mi.l))))))))'///:))))))::))))::)):/:))):/:))):/:::)))))))))))))))))))j//:)))))::::))))):/:llt::::,::):::::::~:::':/'::))'=II'))\;~P.$.iilif/jl)))))JOOo.~K:))://::1 Page 42 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (8) SEWER Changes in Fund Equity ~iil~ftm@rl_)))))))))))))))))))~r:):rti))))::))))):rrrrr:)):rr:::::::::)::):r:):r:)r)):rr::~:~r::::))))):~:~~~:rm::))))):~::))::)::):~lIrr~4.P.$.i@.iW)l[rrr::~~~)~$.:))))::)1 ANALYSIS OF CHANGES IN FUND EQUITY o o o o o Page 43 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (G) SEWER Budget Summary ~<<lit@i$@_)))))))):::::::::((:::::::))))))))):((((:))))::11:)J.:m:ip.~~):II))]:m.W~W.ff(ql(((M~_~M~~)))I!(((J;:mt~tj@M))):I!):A~Mli~i:nt.Q.OO::):1 Estimated Revenues And Other Sources Est Rev - Real Property Taxes G1049B 0 Est Rev - Real Property Tax Items G1099B 0 Est Rev - Departmental Income G1299B 0 Est Rev-Intergovernmental Charges G2399B 0 Est Rev - Use of Money And Property G2499B 0 Licenses And Permits G2599B 0 Est Rev - Sale of Prop And Comp For Loss G2699B 0 Est Rev-Miscellaneous Local Sources G2799B 0 Est Rev - Interfund Revenues G2801B 0 Est Rev - State Aid G3099B 0 Est Rev - Federal Aid G4099B 0 Estimated - Interfund Transfer G5031 B 0 Appropriated G511B 0 Obligations Authorized G530B 0 Estimated - Proceeds of Obligations G5799B 0 Appropriated Fund Balance G599B 0 Page 44 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (G) SEWER Budget Summary P.<<lif@i$iillfMif)):(((:)::::))))))))))))))))))))))))II(:liic.~):IW::::::::Wiiffi.ffi.f_:::)::II(((~~n~~))::::IW)))P',l'f~tiiW$)(((IW)Aij\#.i.liifaMi(1 Appropriations And Other Uses App - General Government Support App - Home And Community Services App - Employee Benefits App - Debt Service G1999B G8999B G9199B G9899B o o o o Other Budgetary Purposes App - Interfund Transfer G962B G9999B o o Page 45 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Balance Sheet IQMMIm.Mij.~??:::(:::::::::::)??????????????????::::::?:(~???????~(:????:{(:???::::::????????i(:????:?:~???~:~:::lI@~????:J~Ql#((({?{Hii~ilc.~:::~:~n)?????~(:??::{{1 Assets Cash In Time Deposits Cash Fiscal Agent 5,011 ,262 529,328 H201 H223 3,287,676 477,987 Investments In Securities o H450 o Accounts Receivable o H380 State & Federal Receivables 531,737 H410 717,494 Due From Other Funds 13,425 H391 4,000 Due From Other Governments o H440 o Page 46 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Balance Sheet Page 47 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Results of Operation ltlm.it~W#.l))))::::::)::):///:))))))))))))))))):/:::)))))):::::/:::::::))):::/:::)::))::):/:)::::))))))))))):///::1b))):::\t9.~/:::):::::::::::lI'/\~~~:::::)H:::::)::)))~OO:3.////::::d Detail Revenues And Other Sources Interest And Earnings 99,138 H2401 73,946 Insurance Recoveries !9[~g~~t!9f~f9M#!~ij~99mij~~@lF??@~ Premium & Accrued Interest On Obligations Unclassified (specify) 131,044 :::::i<1~~~m o 258,869 H2680 719,784 ii:r"'~r@: H2710 H2770 o 361 ,250 ST. Aid Multi-Modal TransP. Program St Aid, Other Home And Comm Serv St Aid, Natural Resources Cap Proj o H3505 H3989 o H3997 o 81,900 o Fed Aid, Sewer Cap Proj Fed Aid, Other Home & Community Cap o H4990 H4997 o 8,250 Interfund Transfers 59,625 H5031 42,546 Serial Bonds 9,836,556 H5710 2,254,000 Statutory Installment Bonds 0 H5720 0 Bond Anticipation Notes -7,725,580 H5730 0 Bans Redeemed From Appropriations 1,112,000 H5731 587,444 t9tA~:p~~!IR#y~@~!AijijPm~r~99r(;~~i..<::~~!r1i~~* Page 48 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Results of Operation I~Wm.itP.tiMlIAAi!.tt~\\\\\~tttttttttttttttt\:t:\:tt:\::::\\::\\:tttt~:~\\\\\\\\\\\\\r\\\\\r\\\\\\\\::~:W:\\\\@lQ.ltrrmtt:II'\\l1Ii:lRP.mliK~:qlrrr\mt~:t:\\\\:l Detail Expenditures And Other Uses Fiscal Agents Fees, Contr Expend H13804 H97307 2,280 Transfers, Other Funds 457,999 H99019 317,879 Page 49 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Changes in Fund Equity ~Rijj;m~m.w.N::::::::::::::::::m::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::f:::::::::::::::::::::::::Jt::::::::::::::::JJ::::::::::::::::::::::::::::::i:mt~::::::::::::J::::::::::::::::::::::::::::::::J:f@I::m:m~::::::::i:m~::::::::::::::::::m:::lI:m:ml!ii:li:@.&.liF::::H::::::::))))~$.::t~::::::::::::m~:~1 ANALYSIS OF CHANGES IN FUND EQUITY Prior Period AdJ.- Increase In Fund Equity -2,501,080 74,545 H8012 -2,426,535 3,771,652 3,564,143 -2,219,026 -2,219,026 ADD-REVENUESAND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES -2,219,026 4,129,120 5,489,596 -3,579,502 Page 50 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (K) NON-CURRENT GOV ASSETS Balance Sheet IWiWlrMim.//:?~:~~~:::~:~~t??????::??????::?~///:?????:::::::/~?????t???:/(:j/:j~j:j:?~~~:~:~/~::::j/:j:::~~~:~////:???~/~::::???j:jm~~~~~:::::~~~~~~~~(J~Q.PJ.//::::~::r?:II?~~;;fie.m.m::::mt//:j~j~?:J?OO~:::::::::::j//tl Assets Land Buildings Improvements Other Than Buildings Machinery & Equipment 6,549,550 K101 7,421,156 K102 2,924,927 K103 3,787,032 K104 6,549,550 7,421,156 2,909,956 3,914,381 Page 51 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (K) NON-CURRENT GOV ASSETS Balance Sheet liiillf18~.:):):?::::::t::tt?::::::::::::::?:::::i:::::::::i::??\?:):)?i/ii/i?:i:/}):::):i\i/iiii/:?)??::\:i:i?:::::i:ii}})):::::\)ii?ii:))}):?:)))i::m}::::::}:::::iii:?i~:?)??m//l??~#ffi~iijj?i/H}/::::)i\:)M~:t?\??://1 Liabilities And Fund Equity Total Non-Current Govt Assets 20,682,665 K159 20,795,043 Page 52 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (PN) PERMANENT Balance Sheet liliiOiM.rlm~~~))))::)I:~))))::))))))))))I)))):t~:~~~~~))))))):}ttt~)::)II:tttt:::)IIIII):t~:~):~))::::):~:~))I11t:)))))~t:::))II~lI):~~fiC.<<.lW)II:~:~:~::t::~:~::::::::~W~::::t~))::J:l Assets Cash In Time Deposits 83,623 PN201 85,178 Page 53 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (PN) PERMANENT Balance Sheet tiilwtm@rlp'jjf))t~jjj)j:jjj((jj?(:j:j:j:j:\mm~:t))\\t\\m??~\\::::\\\t?mrttt?tm?jj~t??\m?j~~~:?::t~?j\:r~t\m?j~jjj?t:??m~~Jlrt:??jjjjrjn~Q.t.~~??::(~\j?~JI?t~$i@.~\rmm??~~~r:rr~~~(m\\\\j:\1 Liabilities And Fund Equity Unreserved Fund Balance Unappropriated 83,623 PN911 85,178 Page 54 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (PN) PERMANENT Results of Operation ~m.fitMl~@.::::::r::::ri?:rrrr::::::rr::rr:::::?:rrrrrr::rrrrrrrr:???::t?:rrrrrrrrrrrrr:?:::rrr:??:::::rr:???:rr:::ltr:??::?t9.~:r:??:::r:llriJ~4jij$ijj??:II::::?:::rrr~9.iit.~?irrrtl Detail Revenues And Other Sources Interest And Earnings 12,572 PN2401 1,028 Gifts And Donations Unclassified (specify) 7,075 PN2705 PN2770 8,610 25 Page 55 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (PN) PERMANENT Results of Operation ItWi~J~iMi:lMifl:::r:):r:))::)::):::=):r::r:::::::)))))))))))))))))))):==~):r:)))))))))):r::r:::::))))))))))))=r)Jmrrr::::=:::~::)))))W:):=~i:lP.OWii!m)m::)))):rOOQ.;~r:):r:::::=j Detail Expenditures And Other Uses Other Culture And Ree, Cont Expend 16,000 PN79894 3,783 Mise Home & Comm Serv, Cont Expend 6,082 PN89894 4,325 Transfers, Other Funds -86,058 PN99019 o Page 56 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (PN) PERMANENT Changes in Fund Equity ~li@fttm@ijli1il':t:ttttJ:i::t'itttit:tttttttt:tI::I:::t':iii:i:i:i:tit:ttt::ttttitt:::ttttit:ttti'iJtt::t:::ttt,:::ttt:JJ:iIJ!I(ttttt:~ttt:::tt:lI@t!4.RQMi~ttmt:::t:::tt$.Qi:t$.Itt::,i:i:i:tl ANALYSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 19,647 -63,976 83,623 83,623 9,663 8,108 85,178 Page 57 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SL) LIGHTING Balance Sheet 19.imlUi1li.@i.:::::)))))))::::))))))::)::))))1::::))))):((((:))))1))::::::::::://:)://:::::):::/::::::::::::::/:)::))):::::/:):::/:)::::)W)))::::))M@:::::):J/:):II)]r;~G.~:f:ll:://:::)::::::::~$.:))::::))J Assets Cash In Time Deposits 9,910 SL201 10,208 Accounts Receivable o S L380 Page 58 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SL) LIGHTING Balance Sheet t.i@MMijifli$.i\/:)t::{::)=::\::i))::=:://:{=::/\::::::::::r::')):::::::::::/(//!:::i::::://:{::=:\::::::::::)))::)::::)):::/i\::{:\\\i)):/\={=:=:{)==)::W)))==:::::::::=::::~Q@!::m!:::(::::::/!::m:\:J#lP.lM~:/\llf:):f//!::{~~=)m::f//::::1 Liabilities And Fund Equity Accounts Payable 1,906 SL600 2,010 Page 59 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SL) LIGHTING Results of Operation ~WiU1ii@iifim))))))))))))i~i::::::::::~i~i~i~i~~~~~)::)II)))))))))))i:::::::::::::i~)))::i::::~))))i:))))::)mi))::::::::)))i:::::i::::::::::::~))i:il!:::::))))tQ.<<f::):::::::::::::li':)HMlp.~:i~)i:II:::)))))imt.~::::~i:i~)m:::::i~l Detail Revenues And Other Sources Real Property Taxes 24,263 SL1001 24,263 Interest And Earnings 384 SL2401 245 Page 60 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SL) LIGHTING Results of Operation ~mli'd~ti@WM:?????(?????:::):?(:))::j???(?:)::::)))))))))j??f??:::))))))))))))))::::jf:)::))::::::::)jf:):::??:::j1:))))::@<<m):?:::tj:tll:):J~ijP.Q.mlitj:mj:j:j:)))):lilOOi))))jf::l Detail Expenditures And Other Uses Street Lighting, Contr Expend 23,747 SL51824 24,314 Page 61 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SL) LIGHTING Changes in Fund Equity WJi.l.MPiiM.Bi?:i?=i:i??t?'rrrrri:ittir='rr':tttrrr:'rrrri':'it:rrrt"rrr:tt=i=i=i=r:=i?t'it:i:::ri:i:r:'it:i:i:i???'trrit=ri:i:i:::i:Hli:r'=:????OO~t't::t??:m:it~ij~imift:mr::::::::i=rr~1.tt::??::?:1 ANAL YSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 7,104 7,104 24,647 23,747 8,004 8,004 8,004 24,508 24,314 8,198 Page 62 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Balance Sheet lQiilirPi~@P.t.iljt::))))))):tttttt:::::::)):tt::~::::::::::)::)::::):::::::::tt;)::::))):tt:;:::::)::)):tt:::::))){)))))):::::::t:::::)))):::::}:::lIt:t::::::::)::::~:)::))):tll':;:::~iiC.<<I~f)II::::::tt::t:::::~~;;:)):::}::;J Assets Cash In Time Deposits 41,982 SM201 99,036 Investments In Securities o SM450 o Accounts Receivable o SM380 Page 63 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Balance Sheet ~i@KI$M,fl&\\~????~\\m}m\~~~~~:~~~~\\\~:::::\:?????::::::}~\~?mmmm}:~::::~:~:rm\\\~~~~:~::\~t?}tt::?~~:\):::::::::t}~~}t}?:::::\\\::\mllti:?::\tt::~~li$.W)J::::::~???l!:':t::gjilMiii::}:m::::~:m~~~~~\ttm~~::::)~?:~r?:t':l Liabilities And Fund Equity Accounts Payable SM600 14,583 ..._-,.-" ..._----" ......'."""......."."'...------.- ....--.--------..... [9!~Y~mr~#~t@~Fwm~j#rn;'jAppt9pre~#~ Unreserved Fund Balance Unappropriated ......................................... ........................................ ,............................."......... ...........................,........... ......................................... 3,000 ..""'...------.""'...----.-...-------......---.-.--.._-----"",.. :~,ij~qU<~P~M~ 38,982 SM911 54,453 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . ......................................... ........................................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................ .......... ............ ........... Page 64 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Results of Operation ~WitP.iiMi$$)i::::::::::::::1:::::::::::::::)::)::::::::::::)::::::::::::::)f::::))))))))::::):::::::::::::1:)::)))))::::::::)))::::::::::))))::::::::::::::::))::::::::):::::::::::::::IlK)::::::::::::::~:)))t):lI@):1il:ijp'Q.i;l.*t:::::::H:::::::::::::::))~00:$.::::::::::::::::::::::1 Detail Revenues And Other Sources Real Property Taxes 226,200 SM1001 226,200 Other Payments In Lieu of Taxes Interest And Earnings 37 SM1081 35 2,295 SM2401 2,102 Page 65 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Results of Operation It(@ifQ.i~~iifM.t::):t::::::J:::::))::):::Ji))':)):J:::::)):ttt:))){)):::ttt:::::)!:):tJ:::::::!t:):::::,)::::::::))I):t:)!::'::!:::::))!:::::!::"'!'::))))lIiiJ:::::::):~:J:::))i:::lbii~ijp.:p.(#'if)mitt:,,):t::oolm!::""::'))):l Detail Expenditures And Other Uses Judgement And Claims, Contr Expend 25 SM19304 16 Ambulance, Contr Expend 231,744 SM45404 185,850 Page 66 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Changes in Fund Equity ~liiM'~l@il~rri?irrrrri?:rrrrri:rrr;?:it?:i:::i::?::::???:::::i??:i:rr:=r::rri??::::=rr:=::ri?::::=:=::r:I=iiiii?i:m::i:==:::::::?:i:::=:rr:=:=::::rJ:;:Hi:i???:i??~r:::::::=rrrWrJ~4.i$.~ift=m::::rr:=::::::=:~:ri;:::??:::::rl ANALYSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Page 67 45,219 45,219 228,532 231,769 41,982 41,982 41,982 228,337 185,866 84,453 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SS) SEWER Balance Sheet IIWl~J*iWlm??????if::fi?:fff::i?:fi:i:ff{ffffff::i:i:fffff!:f!?:!:fff:???=!:!:ff=:ff':fffi:ff','@!tf::i:::i?'!'!:ff!:!:fff::::m::'::::ff::::f~}:!:!:::f:'::::mll'}=g~c~J:~t:!:I?:fff~~lffi?:fJ Assets Cash In Time Deposits 1,381,239 SS201 1,643,183 Investments In Securities 0 SS450 0 Sewer Rents Receivable 400,087 SS360 410,420 Accounts Receivable 0 SS380 683 State & Federal Receivables SS410 5,505 Due From Other Funds 65,782 SS391 38,152 Page 68 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (55) 5EWER Balance 5heet lix@iim@'iliiJJ:if::m:mt:m::::t==:::::::tt:??:=:::::::t':::m::::::t::::::tt:::::t/:::m:t::::m:,,:m:::::::':::::::::t/::::m:m::::::::=t::::::t,:'::::::tt::::::,=,,:::::t:t:m:::t:::::::='=::{t:::=r:::II':/::t/:::::t::::~~::::It'::?:mt:m(':miW!M~:/tl[::::t:::::m:rm::~~':rr/::m?:::::::I Liabilities And Fund Equity Accounts Payable 12,720 55600 30,577 103,019 1 ..,.......................................................,'.....................:.....'...................................................................'................................................ ..............................................................,...........................................,.,..................... U:H:U<J~~A1~UHMt;AA~ 1,592,506 55911 1,930,030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . ' . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J9!A:YY9.:~~~rY#~foo#Wi'!ij~~HA~ij~9~rt~~#~ Unreserved Fund Balance Unappropriated Page 69 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (55) 5EWER Results of Operation ItMif~I_:?::?:::r:::::?:????:::::r::r:??:rr:?:r:::?::::::?:::::::r:?:rrrrrr::rr:?::??:::rrr:???:::::::r:???:rr::rrr::rr::::r:?t::::ll@:::::r:::?:iQ.~:::rr{:::m:W??!;~RJj:r/lI:rrr::rrIOO:$.??:::::/rJ Detail Revenues And Other Sources Real Property Taxes 2,048,896 551001 2,002,942 5ewer Rents 1 ,143,975 552120 1 ,270,846 Interest & Penalties On 5ewer Accts 14,366 552128 16,270 Water 5ervice Charges 575 552144 500 Interest And Earnings 503,060 552401 568,750 Refunds of Prior Year's Expenditures 59 552701 0 Premium & Accrued Interest On Obligations 552710 2,481 Interfund Transfers 349,201 555031 234,240 Page 70 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SS) SEWER Results of Operation Social Security, Empl Bnfts Other Employee Benefits (spec) 3,010 SS19304 Sewer Administration, Pers Serv Sewer Administration, Contr Expend SS90308 SS90898 1,212 o Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 1,547,101 695,000 SS97106 SS97306 1,445,125 95,444 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 997,504 SS97107 134,873 SS97307 942,172 12,400 Page 71 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (55) SEWER Changes in Fund Equity ~~ifQ.i~_))::))::{{::)::)::::{:t:{{){):ttI:::))::::)):t:::){:tt:::::::::{:::::::tttt::::tt:::::)::::{{::::)){{{:tt:::::{:t:{:tt:)):@W{)){):::@Q~I::t:{))::m::?~#.i$.l@it{lW::}:))::)~:t:::t::ttt:1 ANAL YSIS OF CHANGES IN FUND EQUITY Prior Period Adj-Increase To Fund Equity ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Page 72 2,041,292 89 558012 2,041,381 4,060,132 4,405,988 1,695,525 1,695,525 1,695,525 4,096,029 3,744,188 2,047,366 OSC Municipality Code 130386800000 (55) 5EWER TOWN OF Wappinger Annual Update Document For the Fi5cal Year Ending 2003 8udget 5ummary t<<litlM$@w.oo}}::}:((((:}}}}}::}}}}}}:::(~}}}}:~:~}i((:}::jl~}~mi~~AAfiHi(:::@li.W~t~:}}jl(@::::_liiU~Q.OO}:~}:~I!(:::::tj;:lllW;iij0.t:~~:~:~::::::ln~:~Aijii.i$.~f$IIt:I:1 Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Departmental Income Est Rev-Intergovernmental Charges Est Rev - Use of Money And Property Est Rev - 5ale of Prop And Comp For Loss Est Rev-Miscellaneous Local 50urces Est Rev - Interfund Revenues Est Rev - 5tate Aid Est Rev - Federal Aid Estimated - Interfund Transfer Appropriated Reserve Obligations Authorized Estimated Proceeds of Obligations Appropriated Fund 8alance Tg[I'~ll~#~mlr~~~r~:>~ tPt~;ffl~~!flm~i:~~~Y!r~~~~~Ptfl'#r:~9ij~ 5510498 2,002,942 2,002,942 5510998 0 0 5512998 1 ,212,069 1,212,069 5523998 0 0 5524998 580,975 580,975 5526998 0 0 5527998 0 0 552801 8 0 0 5530998 0 0 5540998 0 0 5550318 40,000 40,000 555118 103,019 118,019 555308 0 5557998 0 555998 o o o o o o o o o o 1 ,914,939 o 1,225,960 o 407,484 o o o o o t:':~~~~~1'1:~!;~1~ :~~M~~~~;~~~~!I Page 73 o 15,000 o o o ........................ .......................1..'. ....00... "0:'" ::::::::::::::::::::;;;;;:;;;:;;:;:;:;:;:::::.:.:.::~:.:.;.:.:.:.:: . . . . . . . - . . . . . . . . . . . . . . . . . . . . . . . . . . ...........................................1... ," ...Q..O...o;.... ...................... . . ...................... . ..................... .. :::::::}}:::{{{:}:.;:;/.;;.. 125,000 117,336 o o ,..................... . !~~I~;~~~ OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (55) 5EWER Budget 5ummary ~iil~iJ).~@ij_t~tttt~~t:~::~t:t~~~:t~:~tt:::~:~:t:~~:t:~:ttttttttttiH It:*41.~~AAf]ltt:~$.a.iM~nllltftH Itt}ghi~Migtttl!tt'iJi:lI<<~f.~~t:t:tIWiAj;jimliif~t~:1 Appropriations And Other Uses App - General Government 5upport App - Home And Community 5ervices App-Employee Benefits App - Debt 5ervice 551999B 558999B 559199B 559899B 79,642 1,212,816 1,270 2,645,277 79,542 1,227,816 1,270 2,645,377 100 -15,000 o -100 73,383 1,269,795 1,306 2,446,235 Budgetary Provision For Other Uses App - Interfund Transfer 55962B 559999B o o Page 74 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SW) WATER Balance Sheet lQiil,M*Mt!ii@.i.(((((((:):(:)::::::::::))))))))))))))))))))){I~((:::)):(:)::::::)::::::::::)))))::::::)::::::~:)))))):((~)){II(~)))));m~(:f::::):::::::j[:)t$c.miffll((((:))~~r))~(~~:~~~:~l Assets Cash In Time Deposits 272,113 SW201 243,017 Investments In Securities 0 SW450 0 Water Rents Receivable 193,859 SW350 179,233 Accounts Receivable 0 SW380 1,071 Due From Other Funds 1,543 SW391 4,688 Page 75 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SW) WATER Balance Sheet I$#.ijM5iAAilij@f:?i/:':::::I','//}/'::::mm/,:/mrr??:/:::?/r?/':':?:/:'/:::??/:::::::/:'/:?r:':'::://:::::://:r?\'t:/m:::\:tt/'::/r:'::::?rl:m:::'/::/::::::::r:~al':J??rm/11::rJ@p.~w/mm:::/mmt::/':::::*~/rm////J Liabilities And Fund Equity Accounts Payable 21 ,876 SW600 22,292 72,325 .............................................................. ................................................................... ....... ....... ....... .... .... ................................................................... :,??@~~!~:~~!~!~ 342,301 SW911 300,462 ............................................................................................... J9[~'yQw*~b(@ttg~l,!ij~!HAker9kff#.~~~ Unreserved Fund Balance Unappropriated Page 76 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SW) WATER Results of Operation If.JWit~@mml\\{{it::::::::::tt:::\\=:::\{\\\\\\:tt::::::t:\\:t=\itt:::::::=:{::::\\:=:=::\\:t:::::\:::::::t:::\{\\\\\\\=:\{\=:\:tt::tm=::::\\{:ttQ.~:\:ttt::=:jl@\~ij~:::\:il!:::\\\\\ll>>.$.=::\::\:::t:J Detail Revenues And Other Sources Real Property Taxes 431,541 SW1001 559,875 Metered Water Sales 516,377 SW2140 517,787 Unmetered Water Sales 89,842 SW2142 64,101 Water Service Charges 1,050 SW2144 0 Interest & Penalties On Water Rents 8,117 SW2148 6,893 Interest And Earnings 14,509 SW2401 11,724 Sales of Equipment 3,475 SW2665 1,950 Refunds of Prior Year's Expenditures 83 SW2701 2,103 Interfund Transfers 70,000 SW5031 75,621 Page 77 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SW) WATER 543 SW19304 Water Administration, Pers Serv Water Administration, Contr Expend Social Security, Empl Bnfts Worker's Compensation, Empl Bnfls SW90308 SW90408 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 193,682 SW97106 133,000 SW97306 191,350 243,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes SW97107 SW97307 Transfers, Capital Projects Fund SW99509 38,546 Page 78 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SW) WATER Changes in Fund Equity tiilitP.ii$im.B)))):::JJt:::))@)))::)::)))))))))))))))):J:))))))::::))))))):J:)))):J:)))))::))))))::::)):IMJJJ::::J@~l;l~l::(:::::@:(:II((~a.~i@.if(:lr:::::::))::)~$.((::J:n:(:1 ANALYSIS OF CHANGES IN FUND EQUITY Prior Period Adj - Decrease In Fund Equity 382,821 89 SW8015 382,732 1,134,994 1,103,100 414,626 414,626 ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 414,626 1,240,054 1,271,033 383,647 Page 79 OSC Municipality Code 130386800000 (SW) WATER TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Budget Summary Ii.l.@;~:~~.r:rr:::::::::rrrrrrrrrrr:::::::::rr:rrrrrr::rrr::::::ll::n~*-i$.iw.fHI??::~.f$~:?::::llrrrM&'OC~in~g???I!:???:'l).j<<~i~&.ilt?:r:::n:r:A~iii$..f$@kJ Estimated Revenues And Other Sources Est Rev - Real Property Taxes SW1049B 559,875 559,875 0 545,964 Est Rev - Real Property Tax Items SW1099B 0 0 0 0 Est Rev - Departmental Income SW1299B 567,601 567,601 0 608,412 Est Rev-Intergovernmental Charges SW2399B 0 0 0 0 Est Rev - Use of Money And Property SW2499B 8,770 8,770 0 7,926 Est Rev - Sale of Prop And Comp For Loss SW2699B 300 300 0 300 Est Rev-Miscellaneous Local Sources SW2799B 0 0 0 0 Est Rev - Interfund Revenues SW2801B 0 0 0 0 Est Rev - State Aid SW3099B 0 0 0 0 Est Rev - Federal Aid SW4099B 0 0 0 Estimated - Interfund Transfer SW5031 B Appropriated Reserve SW511 B Obligations Authorized SW530B Estimated Proceeds of Obligations SW5799B Appropriated Fund Balance SW599B [&!A4g#.i.~(~ijpth~f$@r~:n ijqr~4f$~~j~~~R~Y'm9~~@~9tfflit~P:~~ ......... . 48,610 o o o 72,325 -.-..-.......-_.__. . ....-....... ------.., ,~~~~~~i> 1~~~~~~!1i Page 80 48,610 o o o 110,872 1~j~~nn .................................. Uj;~~@9,~!iU o o o o 38,547 ...:....,~~~~t.:.:.: iHi~J;~~tn o o o o 86,185 i>~~;j,~ 1~iVit OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (SW) WATER Budget Summary t<<llt18@tl.ft:////::////////////::::////:tttt:::/~tt:II:/~Wit.~ii:t!I//Jm.llm@H::tlll~~~//:~~Ui~/:~:~:~:~I!tt:::{p',lt~i.~Mi.it:::/:m~:9\~*l~i~f~Wf/:1 Appropriations And Other Uses App - General Government Support App - Home And Community Services App-Employee Benefits App - Debt Service SW1999B SW8999B SW9199B SW9899B 74,745 593,141 3,420 586,175 74,730 593,141 3,435 586,175 15 o -15 o 63,640 629,668 3,265 552,214 Budgetary Provision For Other Uses App - Interfund Transfer SW962B SW9999B o o 38,547 o -38,547 o o Page 81 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (TA) AGENCY Balance Sheet !;ili:...............,.;.,.;.;;;;;~;"'"'.....................,..........,.,.,.,...,..,.;...............................,.,.:..,.,.,....................,...........................,.,...,.'.'.'.'..;.:.'.'.'.'11.................;.;.;.:.j.;............ll.'.'....,'""'......;.i.i.i.i.'.:ll.................i.................l ~~itpj$.ijim~i{':::::r:',:::::::::::::rt:',::j:','r::::::,::::j:j:j:j,,;;;,;:;::::,:,::,:,::;r:,::::,::",,:::::::::::::,:rr::r,t?t),::;,::::::'r:::::::,,::::,r:::::::j:::,:'r:::;::;:;:::rr:::':',','r:"':::;mj:::::?:t,,::::::,j:j'J,::::::::::::::::::::,:~';j:::::::::',:::::r'::L:?f~O:.M~tt:::::::,::',:rr,'::~::'::,:::::::::::':::::j Assets Time Deposits 348,892 T A201 958,857 o TA381 Accrued Interest Receivable Due From Other Funds 347 T A391 Page 82 OSC Municipality Code 130386800000 (TA) AGENCY Balance Sheet TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 p.mlMMii#.E/{::rrr:?::rr~:~:~:r:::/rr//:rr~rrt:~rt~r~~~rr~~~~~rrtm:::r:~~/:::m:::r::::::://r:::r:::::t:r~~r~~~~r:r::::~~~~~~/:r:::r~~~~~~~~/:rr:t:m~:~~:r~//r~~:~:~~t:~~~~rrm:::rJIt:tmm.miiirtm:::rr~~~~~~r:::::::~~~tr:::r:::rrml Liabilities And Fund Equity Due To Other Funds 10,432 TA630 15,312 Assoc & Union Dues Guaranty & Bid Deposits Bail Deposits Other Funds (specify) 37 515,847 565 422,635 Page 83 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Balance Sheet lWiji(Qt@.i.'liWig::=::::::t=:===t:ttttttttttttt:tt:t::tt:tt:::tttt=:=:t:tt::::=:@=tttttt===t:tt:tt:=:tttt:t:tttttt::ttttt)lItt::::::t::=::::~1.tttt:ttH:t:~miC.~AAftIII:tt\\t~OO~:::\\:=:===::t:1 Page 84 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Balance Sheet l$.l@iMSi@ri.E:?::??::::t:'??:f::::::::fff::f:::::?mmmftm??:f::ffmmf:::::::::::::mf::':ff't???:ffffffff,,'t:f::::fff'???:f:)::?t:fillff'\????~~m:::::::I{ff]lff:mm.~mmmmfmmmt:f:::::~~:::::?::::?mmt:::1 Page 85 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Results of Operation tlilifD.iMijml#.t??:((((:?????????????????????????~((::(:~:~:???~((:::~:????::::??????:(:??~((:::~:::::::~((((((W:~:~:???::l.tl.ft((:???~W((l&.I~((:lt????:(:loot((:~:~(:::;:::l Page 86 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 Results of Operation ~WifMl.MftWim{{{{{::{{{{{{{{{::::{:\\\:{{{{{{{{{{{{{{::::{j\}\:{{{j\\:{{{j\:j:j::\\:{{{::::{{{{{::::{j:j:::{{\\lI\:::j:{:::\::~::{{{{{W:::::J~~miWifiJt{{::{{G~~{::::{{::::j::1 Page 87 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (V) DEBT SERVICE Changes in Fund Equity ~i.l.itiim~i$.IMif):(:))))))))))))))))))))):((:))))~((((:))t)))))))):((:::::::)))))):(:)))))::)):((((~:m::))::)::@:~w.~\:~::~~:~~t))lI((!$i:l~OOiiit)l[(~~~:~::))::~$.:))~((~):~I ANALYSIS OF CHANGES IN FUND EQUITY o o o o o o Page 88 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 (W) NON-CURRENT GOV LIABILITY Balance Sheet PijtiifP.'M@iiiMf:'{))::::{{{){ittt:::::)))))){{{:,{{{{,::::::::}:)::::))):ttt:::::)):ttt:::::))))){))))))::{::))))){{:'lItttt:))$P$ttttttIW{~ijp~~':)II::::::::t:::::){~~t:)::):t:J Assets Total Non-Current Govt Liabilities 26,989,852 W129 27,207,179 Page 89 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2003 0/11) NON-CURRENT GOV LIABILITY Balance Sheet I/i:li9MMM#Ml.if:::::::::::::::::::/:mmm::::::::::::::/:::::m::::t/:::::::/:::::::::/::::::/"/i:::::::::::::::::::::':':t/::::::::::/it://::::::::::::::::://::::m/::::/:::://m:i:/::::::::::::::::/,::t::U//::::::::::::'/t*~/::::I/'/ttll//Jimli~liif::::jl/:://'t/)::*~I:::::):/::::::::::::1 Liabilities And Fund Equity Bond Anticipation Notes Payable 0 W626 Bonds Payable 26,680,556 W628 26,924,556 Page 90 OSC Municipality Code 130386800000 TOWN OF Wappinger Financial Comments For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Adiustment Reason Account Code DB8012 REIMBURSMENT FROM PARKLAND TRUST FOR PAVING NOT RECORDED Account Code DB801 e NO ADJUSTMENT Page 91 OSC Municipality Code 13038( TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2000000003 EDPCODE Amoun Month and Year of Issue 12/23/1999 Purpose of Issue SHWA Y EQUIPMENl Current Interest Rate .9500 Outstanding Beginning of Year ?P18661 296,000 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) ?P18665 124,000 Outstanding End of the Fiscal Year 2P18667 172,000 Final Maturity Date 8/12/2004 Bond Anticipation Note No. 2001000002 EDPCODE Amoun Month and Year of Issue 5/3/2001 Purpose of Issue Water Current Interest Rate 1.0800 Outstanding Beginning of Year 2P18661 1,900,000 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 50,000 Outstanding End of the Fiscal Year ~P18667 1,850,000 Final Maturity Date 4/30/2004 Bond Anticipation Note No. 2001000009 EDPCODE Amount Month and Year of Issue 7/6/2001 Purpose of Issue water Current Interest Rate 1.7500 Outstanding Beginning of Year 2P18661 147,000 Issued During the Fiscal Year (do not include renewals here) ?P18663 0 Paid During the Fiscal Year (do not include renewals here) ?P18665 147,000 Outstanding End of the Fiscal Year ?P18667 0 Final Maturity Date 3/6/2003 Bond Anticipation Note No. 2002000002 EDPCODE Amoun Month and Year of Issue 5/2/2002 Purpose of Issue Wate Current Interest Rate 1.0800 Outstanding Beginning of Year 2P18661 3,250,000 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 150,000 Outstanding End of the Fiscal Year 2P18667 3,100,000 Final Maturity Date 4/30/2004 Page 92 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2002000003 EDPCODE Amoun Month and Year of Issue 2/14/2002 Purpose of Issue Highway Equipmen Current Interest Rate .9500 Outstanding Beginning of Year 2P18661 200,000 Issued During the Fiscal Year (do not include renewals here) I?P18663 0 Paid During the Fiscal Year (do not include renewals here) ~P18665 50,000 Outstanding End of the Fiscal Year I?P18667 150,000 Final Maturity Date 8/12/2004 Bond Anticipation Note No. 2001000001 EDPCODE Amoun Month and Year of Issue 3/6/2001 Purpose of Issue Sewer Current Interest Rate 1.7500 Outstanding Beginning of Year 2P18661 955,444 Issued During the Fiscal Year (do not include renewals here) ~P18663 0 Paid During the Fiscal Year (do not include renewals here) ~P18665 955,444 Outstanding End of the Fiscal Year ~P18667 0 Final Maturity Date 3/6/2003 Bond Anticipation Note No. 2000000001 EDPCODE Amoun Month and Year of Issue 7/9/1998 Purpose of Issue NA TER AND SEWER Current Interest Rate 1.3400 Outstanding Beginning of Year ~P18661 700,000 Issued During the Fiscal Year (do not include renewals here) ~P18663 0 Paid During the Fiscal Year (do not include renewals here) I~P18665 580,000 Outstanding End of the Fiscal Year !2P18667 120,000 Final Maturity Date 3/5/2004 Page 93 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2002000001 EDPCODE Amoun Month and Year of Issue 12/18/2002 Purpose of Issue Water Current Interest Rate .9500 Outstanding Beginning of Year :>P18661 205,000 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 20,000 Outstanding End of the Fiscal Year 2P18667 185,000 Final Maturity Date 8/12/2004 Total Bond Anticipation Note Amoun Outstanding Beginning of Year 7,653,444 Issued During Fiscal Year 0 Paid During Fiscal Year 2,076,444 Outstanding End of Year 5,577,000 ... Bond Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year I2p18885 1,519,444 Page 94 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2000000006 EDPCODE Amoun Month and Year of Issue 3/1/1974 Purpose of Issue SEWER Current Interest Rate 5.8000 Outstanding Beginning of Year i2P18671 19,500 Issued During the Fiscal Year (do not include renewals here) i2P18673 0 Paid During the Fiscal Year (do not include renewals here) I~P18675 19,500 Outstanding End of the Fiscal Year ?P18677 0 Final Maturity Date 3/1/2003 Bond No. 2000000008 EDPCODE Amounl Month and Year of Issue 5/1/1977 Purpose of Issue SEWER Current Interest Rate 5.3750 Outstanding Beginning of Year 'P18671 196,000 Issued During the Fiscal Year (do not include renewals here) ?P18673 0 Paid During the Fiscal Year (do not include renewals here) ?P18675 98,000 Outstanding End of the Fiscal Year ?P18677 98,000 Final Maturity Date 5/1/2004 Bond No. 2003000006 EDPCODE Amoun Month and Year of Issue 3/5/2003 Purpose of Issue Water Current Interest Rate 4.0700 Outstanding Beginning of Year "-P18671 Issued During the Fiscal Year (do not include renewals here) ?P18673 564,000 Paid During the Fiscal Year (do not include renewals here) i?P18675 Outstanding End of the Fiscal Year ?P18677 564,000 Final Maturity Date 3/1/2023 Bond No. 2000000005 EDPCODE Amoun Month and Year of Issue 3/1/1974 Purpose of Issue WATER Current Interest Rate 5.8000 Outstanding Beginning of Year ?P18671 16,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) !2P18675 16,000 Outstanding End of the Fiscal Year I2P18677 0 Final Maturity Date 3/1/2003 Page 95 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2000000007 EDPCODE Amoun Month and Year of Issue 5/1/1977 Purpose of Issue WATER Current Interest Rate 5.3750 Outstanding Beginning of Year 2P18671 28,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) ?P18675 14,000 Outstanding End of the Fiscal Year ?P18677 14,000 Final Maturity Date 5/1/2004 Bond No. 2001000005 EDPCODE Amoun Month and Year of Issue 10/2/2001 Purpose of Issue Wate Current Interest Rate 3.7220 Outstanding Beginning of Year I2p18671 403,400 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) ?P18675 47,000 Outstanding End of the Fiscal Year ?P18677 356,400 Final Maturity Date 8/15/2011 Bond No. 2000000004 EDPCODE Amoun Month and Year of Issue 2/15/1973 Purpose of Issue WATER Current Interest Rate 5.0000 Outstanding Beginning of Year I2P18671 1,200 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 1,200 Outstanding End of the Fiscal Year 2P18677 0 Final Maturity Date 11/15/2003 Bond No. 2000000010 EDPCODE Amoun Month and Year of Issue 12/1/1985 Purpose of Issue WATER Current Interest Rate 7.7500 Outstanding Beginning of Year ?P18671 27,450 Issued During the Fiscal Year (do not include renewals here) 7p18673 0 Paid During the Fiscal Year (do not include renewals here) 7P18675 9,150 Outstanding End of the Fiscal Year 7P18677 18,300 Final Maturity Date 6/1/2005 Page 96 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2000000009 EDPCODE Amoun Month and Year of Issue 5/1/1977 Purpose of Issue WATER Current Interest Rate 5.3750 Outstanding Beginning of Year !2P18671 199,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 98,000 Outstanding End of the Fiscal Year 2P18677 101,000 Final Maturity Date 5/1/2004 Bond No. 2000000012 EDPCODE Amoun Month and Year of Issue 7/30/1998 Purpose of Issue WATER Current Interest Rate 3.7000 Outstanding Beginning of Year 2P18671 430,000 Issued During the Fiscal Year (do not include renewals here) 2P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 20,000 Outstanding End of the Fiscal Year 2P18677 410,000 Final Maturity Date 10/1/2018 Irotal Bond Amoun Outstanding Beginning of Year 1,320,550 Issued During Fiscal Year 564,000 Paid During Fiscal Year 322,850 Outstanding End of Year 1,561,700 01 Page 97 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2003000004 EDPCODE Amoun Month and Year of Issue 8/12/2003 Purpose of Issue Fuel Storage Tank Current Interest Rate 1 .1400 Outstanding Beginning of Year :>P18761 Issued During the Fiscal Year (do not include renewals here) 2P18763 200,000 Paid During the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year 2P18767 200,000 Final Maturity Date 8/12/2008 Bond Anticipation Note No. 2003000003 EDPCODE Amoun Month and Year of Issue 8/12/2003 Purpose of Issue Highway Resurfacing Current Interest Rate 1 .1400 Outstanding Beginning of Year ~P18761 Issued During the Fiscal Year (do not include renewals here) ~P18763 315,000 Paid During the Fiscal Year (do not include renewals here) !2P18765 Outstanding End of the Fiscal Year ~P18767 315,000 Final Maturity Date 8/12/2013 Bond Anticipation Note No. 2003000002 EDPCODE Amoun Month and Year of Issue 8/12/2003 Purpose of Issue Recycle Cente Current Interest Rate 1.1400 Outstanding Beginning of Year 2P18761 Issued During the Fiscal Year (do not include renewals here) 2P18763 175,000 Paid During the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year 2P18767 175,000 Final Maturity Date 8/12/2008 Bond Anticipation Note No. 2003000005 EDPCODE Amoun Month and Year of Issue 12/18/2003 Purpose of Issue ~ecreation Equipmen Current Interest Rate .9500 Outstanding Beginning of Year 2P18761 Issued During the Fiscal Year (do not include renewals here) 2P18763 200,000 Paid During the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year 2P18767 200,000 Final Maturity Date 8/12/2008 Page 98 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2003000001 EDPCODE Amounl Month and Year of Issue 8/12/2003 Purpose of Issue chnology Master Plan Current Interest Rate 1 .1400 Outstanding Beginning of Year I2P18761 Issued During the Fiscal Year (do not include renewals here) I2P18763 175,000 Paid During the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year ?P18767 175,000 Final Maturity Date 8/12/2008 !Total Bond Anticipation Note Amoun Outstanding Beginning of Year 0 Issued During Fiscal Year 1,065,000 Paid During Fiscal Year 0 Outstanding End of Year 1,065,000 *** Bond Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year I2P18885 0 Page 99 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000013 EDPCODE Amoun Month and Year of Issue 2/15/1973 Purpose of Issue SEWER Current Interest Rate 5.0000 Outstanding Beginning of Year :>P18771 1,800 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 1,800 Outstanding End of the Fiscal Year 2P18777 0 Final Maturity Date 11/15/2003 Bond No. 2003000008 EDPCODE Amoun Month and Year of Issue 3/5/2003 Purpose of Issue creation Field Lighting Current Interest Rate 4.0700 Outstanding Beginning of Year !2P18771 Issued During the Fiscal Year (do not include renewals here) !2P18773 785,000 Paid During the Fiscal Year (do not include renewals here) I2P18775 Outstanding End of the Fiscal Year 2P18777 785,000 Final Maturity Date 3/1/2023 Bond No. 2001000008 EDPCODE Amoun Month and Year of Issue 1 0/2/2001 Purpose of Issue Iner. Services Building Current Interest Rate 4.0023 Outstanding Beginning of Year !2P18771 1,195,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 80,000 Outstanding End of the Fiscal Year 2P18777 1,115,000 Final Maturity Date 10/1/2014 Bond No. 2001000007 EDPCODE Amoun Month and Year of Issue 10/2/2001 Purpose of Issue Drainage Current Interest Rate 3.7220 Outstanding Beginning of Year !2P18771 1,119,300 Issued During the Fiscal Year (do not include renewals here) I2P18773 0 Paid During the Fiscal Year (do not include renewals here) !2P18775 123,600 Outstanding End of the Fiscal Year 2P18777 995,700 Final Maturity Date 8/15/2011 Page 100 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2003000007 EDPCODE Amoun Month and Year of Issue 3/5/2003 Purpose of Issue Sewe Current Interest Rate 4.0700 Outstanding Beginning of Year 'P18771 Issued During the Fiscal Year (do not include renewals here) 2P18773 905,000 Paid During the Fiscal Year (do not include renewals here) 2P18775 Outstanding End of the Fiscal Year 2P18777 905,000 Final Maturity Date 3/1/2023 Bond No. 2001000006 EDPCODE Amoun Month and Year of Issue 10/2/2001 Purpose of Issue Sewe Current Interest Rate 3.7220 Outstanding Beginning of Year !2P18771 257,300 Issued During the Fiscal Year (do not include renewals here) 12P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 29,400 Outstanding End of the Fiscal Year ?P18777 227,900 Final Maturity Date 8/15/2011 Bond No. 2000000014 EDPCODE Amoun Month and Year of Issue 3/1/1974 Purpose of Issue DRAINAGE Current Interest Rate 5.8000 Outstanding Beginning of Year !2P18771 14,500 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 14,500 Outstanding End of the Fiscal Year 2P18777 0 Final Maturity Date 3/1/2003 Bond No. 2002000004 EDPCODE Amoun Month and Year of Issue 3/14/2002 Purpose of Issue Sewer Current Interest Rate 4.49837 Outstanding Beginning of Year !2P18771 9,321,556 Issued During the Fiscal Year (do not include renewals here) !2P18773 0 Paid During the Fiscal Year (do not include renewals here) !2P18775 425,000 Outstanding End of the Fiscal Year 2P18777 8,896,556 Final Maturity Date 4/15/2021 Page 101 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000025 EDPCODE Amoun Month and Year of Issue 5/4/2000 Purpose of Issue R. SVCS. BUILDING Current Interest Rate 5.5000 Outstanding Beginning of Year 2P18771 96,000 Issued During the Fiscal Year (do not include renewals here) ?P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 32,000 Outstanding End of the Fiscal Year 2P18777 64,000 Final Maturity Date 5/5/2005 Bond No. 2000000024 EDPCODE Amoun Month and Year of Issue 5/1/1995 Purpose of Issue SEWER Current Interest Rate 6.0000 Outstanding Beginning of Year ?P18771 1,850,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 120,000 Outstanding End of the Fiscal Year ~P18777 1,730,000 Final Maturity Date 11/1/2015 Bond No. 2000000023 EDPCODE Amoun Month and Year of Issue 12/1/1994 Purpose of Issue SEWER Current Interest Rate 5.6350 Outstanding Beginning of Year !2P18771 5,845,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) ?P18775 390,000 Outstanding End of the Fiscal Year ?P18777 5,455,000 Final Maturity Date 5/1/2015 Bond No. 2000000021 EDPCODE Amounl Month and Year of Issue 11/12/1992 Purpose of Issue SEWER Current Interest Rate 3.0000 Outstanding Beginning of Year 2P18771 3,475,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 325,000 Outstanding End of the Fiscal Year 2P18777 3,150,000 Final Maturity Date 9/1/2014 Page 102 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000017 EDPCODE Amoun Month and Year of Issue 12/1/1985 Purpose of Issue TOWN HALL Current Interest Rate 7.7500 Outstanding Beginning of Year 2P18771 130,275 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 43,425 Outstanding End of the Fiscal Year 2P18777 86,850 Final Maturity Date 6/1/2005 Bond No. 2000000016 IEDPCODE Amoun Month and Year of Issue 12/1/1985 Purpose of Issue SEWER Current Interest Rate 7.7500 Outstanding Beginning of Year 2P18771 67,275 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 22,425 Outstanding End of the Fiscal Year 2P18777 44,850 Final Maturity Date 6/1/2005 Bond No. 2000000026 EDPCODE Amoun Month and Year of Issue 9/26/2000 Purpose of Issue LAND & BUILDINGS Current Interest Rate 5.3173 Outstanding Beginning of Year ~P18771 1,960,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 65,000 Outstanding End of the Fiscal Year 2P18777 1,895,000 Final Maturity Date 10/1/2020 Page 103 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000015 EDPCODE Amoun Month and Year of Issue 5/1/1977 Purpose of Issue DRAINAGE Current Interest Rate 5.3750 Outstanding Beginning of Year 'P18771 27,000 Issued During the Fiscal Year (do not include renewals here) 'P18773 0 Paid During the Fiscal Year (do not include renewals here) !2P18775 15,000 butstanding End of the Fiscal Year j2P18777 12,000 Final Maturity Date 5/1/2004 T"otal Bond Amoun Outstanding Beginning of Year 25,360,006 Issued During Fiscal Year 1,690,000 Paid During Fiscal Year 1,687,150 Outstanding End of Year 25,362,856 o[ *************************************************************************************************************************************** *************************************************************************************************************************************** Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt rrotal Bond Amoun Outstanding Beginning of Year 34,334,000 Issued During Fiscal Year 3,319,000 Paid During Fiscal Year 4,086,444 Outstanding End of Year 33,566,556 Page 104 OSC Municipality Code 130386800000 TOWN OF Wappinger Maturity Schedule For the Fiscal Year Ending 2003 For Bonds Issued During The Fiscal Year Ended 2003 EDPCODE Indebtedness No. 2003000006 Purpose of Issue Water For State Comptroller Use Only 2P3CE Total Principal 2P3PR 564,000 Date of Issue 2P3DT 3/5/2003 Interest Rate ?P3PC 4.07000 Final Maturity Date 2P3DM 3/1/2023 Amount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last TWO Digits of the EDP Code Correspond to the Fiscal Year Ended) !2P304 7,257 ~P305 ~P306 ~P307 ~P308 ~P309 !2P310 !2P311 ~P312 ~P313 ~P314 ~P315 ~P316 ~P317 ~P318 ~P319 ~P320 ~P321 ~P322 ~P323 18,7671 20,0181 21,2691 21,2691 22,5201 23,7711 25,0221 26,2731 27,5241 28,7761 30,0271 31,2781 32,5291 33,7801 35,0311 37,5331 38,7841 40,0351 42,5371 Page 105 OSC Municipality 130386800000 TOWN OF Wappinger Maturity Schedule For the Fiscal Year Ending 2003 For Bonds Issued During The Fiscal Year Ended 2003 EDPCODE Indebtedness No. ~003000007 Purpose of Issue Sewer For State Comptroller Use Only 2P3CE Total Principal 2P3PR 905,000 Date of Issue 2P3DT 3/5/2003 Interest Rate 2P3PC 4.07000 Final Maturity Date 2P3DM 3/1/2023 Amount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last TWO Digits of the EDP Code Correspond to the Fiscal Year Ended) ~P304 11,643 ~P305 ~P306 ~P307 ~P308 ~P309 ~P31 0 ~P311 ~P312 ~P313 ~P314 ~P315 ~P316 ~P317 ~P318 ~P319 ~P320 ~P321 ~P322 ~P323 30,1131 32,1201 34,1281 34,1281 36,1361 38,1431 40,1511 42,1591 44,1661 46,1731 48,1811 50,1881 52,1971 54,2041 56,2111 60,2261 62,2341 64,2421 68,2571 Page 106 OSC Municipality 130386800000 TOWN OF Wappinger Maturity Schedule For the Fiscal Year Ending 2003 For Bonds Issued During The Fiscal Year Ended 2003 EDPCODE Indebtedness No. 2003000008 Purpose of Issue Recreation Field Lighting For State Comptroller Use Only 2P3CE Total Principal 2P3PR 785,000 Date of Issue 2P3DT 3/5/2003 I nterest Rate ?P3PC 4.07000 Final Maturity Date 2P3DM 3/1/2023 Amount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last TWO Digits of the EDP Code Correspond to the Fiscal Year Ended) I2p304 10,100 ~P305 ~P306 ~P307 ~P308 ~P309 ~P31 0 ~P311 ~P312 ~P313 ~P314 ~P315 ~P316 26,1201 27,8621 29,6031 29,6031 31,3441 33,0861 34,8271 36,5681 38,3101 40,0511 41,7921 43,5341 P317 45,274 P318 47,016 P319 48,758 'P320 52,241 I2p321 53,982 I2p322 55,723 I2p323 59,206 Page 107 OSC Municipality 130386800000 TOWN OF Wappinger Schedule of Securities for Collateralization For the Fiscal Year Ending 2003 General Municipal Law, Section 10 as amended by chapter 708 Laws of 1992 lists the types of securities which may be pledged for collateralization. Please click in the response box next to the type(s) of securities used by banks as collateral for your deposits. Yes 1. Obligations issued by the United States of America, an agency thereof or a United States sponsored corporation or obligations fully insured or guaranteed as to the payment of principal and interest by the United States of America, an agency thereof or a United States government sponsored 2. Obligations issued or fully guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank and the African Development 3. Obligations partially insured or fully guaranteed by any agency of the United States of America, at a proportion of the market value of the obligation that represents the amount of the insurance or Yes 4. Obligations issued or fully insured or guaranteed by this state, obligations by a municipal corporation, school district or district corporation of this state or obligations of any public benefit corporation which under a specific state statute may be accepted as security for deposit of public moneys. Yes 5. Obligations issued by states (other than this state) of the United States rated in one of the three highest rating categories by at least one nationally recognized statistical rating organization. 6. Obligations of Puerto Rico rated in one of three highest rating categories by at least one nationally recognized statistical rating organization. 7. Obligations of counties, cities, and other governmental entities of another state having the power to levy taxes that are backed by the full faith and credit of such governmental entity and rated in one of the three highest rating categories by at least one nationally recognized statistical rating organization. 8. Obligations of domestic corporations rated in one of the two highest rating categories by at least one nationally recognized statistical rating organization. 9. Any mortgage related securities, as defined in the Securities Exchange Act of 1934, as amended, which may be purchased by banks under the limitations established by federal bank regulatory agencies. 10. Commercial paper and bankers' acceptances issued by a bank (other than the bank with which the money is being deposited or invested) rated in the highest short-term category by at least one nationally recognized statistical rating organization and having maturities of not longer than sixty days from the date they are pledged. 11. Zero-coupon obligations of the United States government marketed as "Treasury Strips". 12. Letters of Credit. 13. Surety bonds. Page 108 OSC Municipality Code 130386800000 TOWN OF Wappinger Schedule of Time Deposits and Investments For the Fiscal Year Ending 2003 EDP Code Amount CASH: On Hand 9Z2001 $800.00 Demand Deposits 9Z2011 $0.00 Time Deposits 9Z2021 $6,719,550.00 Total $6,720,350.00 COLLATERAL: - FDIC Insurance 9Z2014 $300,000.00 Collateralized with securities held in possession of municipality or its agent 9Z2014A $7,270,229.00 Total $7,570,229.00 INVESTMENTS: - Securities (450) Book Value (cost) 9Z4501 $355,762.00 Market Value at Balance Sheet Date 9Z4502 $362,866.00 Collateralized with securities held in 9Z4504A $362,866.00 possession of municipality or its agent - Repurchase Agreements (451) Book Value (cost) Market Value at Balance Sheet Date 9Z4511 9Z4512 Collateralized with securities held in possession of municipality or its agent 9Z4514A Page 109 OSC Municipality Code 130386800000 TOWN OF Wappinger Investment Certification For the Fiscal Year Ending 2003 DEFINITIONS: Repurchase Agreement - A generic term for an agreement in which a government entity (buyer-lender) transfers cash to a broker-dealer or financial institution (seller-borrower); the broker-dealer or financial institution transfers securities to the entity and promises to repay the cash plus interest in exchange for the same securities or for different securities. Reverse Repurchase Agreement - An agreement in which a broker-dealer or financial institution (buyer-lender) transfers cash to a government entity (seller-borrower); the entity transfers securities to the broker-dealer of financial institution and promises ro repay the cash plus interest in exchange for the same securities or different securities. RESPONSE 1) Has your Local Government adopted an investment policy as Yes required by General Municipal Law, Section 39? 2) The following investments are permitted by your investment policy. * Obligations of the UNITED STATES Yes * Obligations of the U.S. Government Agencies, guaranteed by Yes the UNITED STATES Government * Obligations of the STATE of NEW YORK Yes * Obligations of other NEW YORK STATE Local Governments Yes * Other 3) 4) Do you engage in reverse repurchase agreements? Are Repurchase Agreements authorized by your investment policy? No Yes Name: Title: Phone Number: JOSEPH RUGGIERO SUPERVISOR (845) 297-2744 Page 110 )SC Municipality Code 130386800000 TOWN OF Wappinger Bank Reconciliation For the Fiscal Year Ending 2003 Include All Checking, Savings and C.D. Accounts Bank Add: Less: Adjusted Account Bank Deposit Outstanding Bank Number Balance In Transit Checks Balance 591-9900107 $431,077 $0 $18,048 $413,029 591-9913497 $1,483 $0 $0 $1,483 591-9900115 $15,769 $0 $13,281 $2,488 591-9900123 $5,999 $0 $0 $5,999 591-9900131 $7,234 $0 $0 $7,234 591-9900148 $149,928 $0 $475 $149,453 591-9900158 $528,010 $0 $0 $528,010 592-004325-2 $10,908 $0 $8,000 $2,908 592-005625-2 $452,812 $386 $7,426 $445,772 592-005615-5 $71,333 $0 $118 $71,215 592-005785-3 $9,094 $0 $8 $9,086 945-9022976 $671 $0 $0 $671 945-8914630 $22 $0 $0 $22 591-9900166 $522,884 $0 $5,616 $517,268 591-9900212 $463,485 $0 $46,455 $417,030 591-9916526 $4,919 $0 $0 $4,919 938-1190290 $9,910 $0 $0 $9,910 938-1189732 $5,821 $0 $160 $5,661 945-8913857 $2,161,771 $0 $33,900 $2,127,871 398-1172261 $1,999,847 $0 $0 $1,999,847 945-1778410 $3 $0 $0 $3 591-9000424 $221,964 $121,883 $343,847 $0 CASH-NYSEFC $477,987 $0 $0 $477,987 CASH- TMSC $137,054 $0 $0 $137,054 Total Adjusted Bank Balance $7,334,920 Eetty Cash $800.00 Adjustments $.00 Total Cash 9ZCASH * $7,335,720 Total Cash Balance All Funds 9ZCASHB * $7,335,720 * Must be equal Page 111 OSC Municipality Code 130386800000 TOWN OF Wappinger Local Government Questionnaire For the Fiscal Year Ending 2003 1) Does your municipality have a written procurement policy? 2) Have the financial statements for your municipality been independently audited? If not, are you planning on having an audit conducted? 3) Does your local government participate in an insurance pool with other local governments? Response Yes Yes No 4) Does your local government participate in an investment pool with other local governments? No 5) Does your municipality have a Length of Service Award Program (LOSAP) for volunteer firefighters? No 6) Does your municipality have a Capital Plan? 7) Has your municipality prepared and documented a risk assessment plan? If yes, has your municipality used the results to design the system of internal controls? No No 8) Have you had a change in chief executive or chief fiscal officer during the last year? No 9) Does your municipality have access to the internet? Does your municipality have an official E-mail address? If yes, what is it? Does the chief fiscal officer have a separate E-mail address? If yes, what is it? Do you have a web site? If yes, what is the official address of the web site for your municipality? Yes Yes WAPPCOMP@BESTWEB.NET Yes WAPPSUPV@BESTWEB.NET Yes TOWNOFWAPPINGER.US Page 112 OSC Municipality Code 130386800000 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31.2003 NOTE A - Summary of Accounting: Policies The Town of Wappinger, New York ("the Town") was incorporated on May 20, 1875, under the provisions of the State of New York. The Town operates under a Town Board form of government, consisting of a Supervisor and four Councilmen/women. The Supervisor serves as the Chief Executive Officer and as the Chief Fiscal Officer of the Town. The Town provides the following services: highway maintenance, water, sewer, planning, zoning, building and safety inspection, lighting, and culture and recreation. The financial statements of the Town have been prepared in conformity with generally accepted accounting principles (GAAP), as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles, some of which are as follows: 1. The Reporting Entity The Town, for financial purposes, includes all of the funds and account groups relevant to the operations of the Town of Wappinger, New York. The financial statements include organizations, functions and activities that are controlled by or dependent upon the Town. Control or dependence is determined on the basis of budget adoption, taxing authority, funding and appointment of the respective governing board. 2. Fund Accounting The accounts of the Town are organized on the basis of funds or account groups, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts, which are comprised of each fund's assets, liabilities, fund equity, revenues and expenditures. Government resources are allocated to and for individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into fund types and two account groups, as follows: GOVERNMENTAL FUND TYPES The accounting and reporting treatment applied to assets and liabilities associated with a fund are determined by its measurement focus. All governmental fund types are accounted for on a spending "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of "available spendable resources." 1 TOWN OF W APINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2003 Summary of Accounting Policies (Continued) Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditutes and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. General Fund The General Fund is the general operating fund of the Town. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Fund Special Revenue Fund is used to account for the proceeds of specific revenue sources (other than special assessments, expendable trust or major capital projects) that are legally restricted to expenditures for specified purposes. Capital Projects Fund This fund is used to account for financial resources to be used for the acquisition and construction of major capital facilities. FIDUCIARY FUND TYPE Trust and Agency Fund Trust and Agency fund is used to account for assets held by the Town in a trustee capacity, or as an agent for individuals, other governments, and/or other funds. These include Expendable Trust and Agency Funds. Expendable Trusts are accounted for in essentially the same manner as governmental funds. Agency funds are custodial in nature (assets equal liabilities), and do not involve measurement of results of operations. ACCOUNT GROUPS Account groups are used to establish accounting control and accountability for General Fixed Assets and General Long-Term Debt. The two account groups are not "funds." They are concerned only with the measurement of financial position. They are not involved with the measurement of the results of operations. 2 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 Summary of Accounting Policies (Continued) General Fixed Assets Account Group Property, plant and equipment used in governmental fund type operations are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. No depreciation has been provided on such property, plant and equipment. All property, plant and equipment are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated property, plant and equipment are valued at their estimated fair value on the date donated. Interest costs incurred during construction have not been capitalized, however. The Town has adopted the accounting policy of not capitalizing "infrastructure" general fixed assets (roads, bridges, curbs and gutter, streets and sidewalks, drainage system, lighting systems and similar assets) that are immovable and of value only to the Town. General Long-Term Debt Account Group Long-term liabilities expected to be financed from governmental fund types are accounted for in the General Long-Term Debt Account Group, not in the governmental funds. They are recorded at the par value of the principal amount. No liability is recorded for interest payable to maturity. Because of their spending measurement focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by non- current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities. They are instead reported as liabilities in the General Long-Term Debt Account Group. 3. Basis of Accounting Basis of accounting refers to when revenues and expenditures are recognized in the accounts, and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. All governmental and expendable trust funds are accounted for using the "modified accrual basis" of accounting. Their revenues are recognized when they become measurable and available as net current assets. All major revenues are susceptible to accrual. 3 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENT (CONT'D.) DECEMBER 31.2003 Summary of Accounting Policies (Continued) Expenditures are generally recognized under the "modified accrual basis" of acco'unting when the related fund liability is incurred. Exceptions to this general rule include: (1) accumulated unpaid vacation, sick pay, and other employee amounts which are not accrued; (2) principal and interest on general long-term debt which is recognized when due; and (3) expenditures for inventory-type items \Yhich are recognized at the time of purchase. ' Expenditures for judgments and settled claims are also recognized when the related liability is incurred, that is when the judgment has been rendered or settlement has been reached. Unsettled claims and contingencies are recognized only if it is probable that an asset has been impaired or a liability has been incurred and the amount of the impairment or liability can be reasonable estimated. 4. Budgets The Town employs a formal budgetary accounting system as a management tool. During the year, a budget was adopted and modified by the Town Board for the General Fund and Special Revenue Fund. However, for the Capital Projects Fund, budgets are established at the project level and continue until the project is completed. Unused appropriations of the annually budgeted funds lapse at the end of of the year. 5. Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded for budgetary control purposes to reserve that portion of the applicable appropriations, is employed as a control in preventing over expenditure of established appropriations. Open encumbrances are reported as reservations of fund balance since they do not constitute expenditures or liabilities and will be honored through budget appropriations in the subsequent year. 6. Cash and Investments Cash includes amounts in demand and time deposits, as well as, short-term investments. State statutes and the Town's own written investment policy govern the investment policies ofthe Town. Short-term investments consist of investments in repurchase agreements. The repurchase agreements involve purchases by a broker of portfolio securities concurrently with an agreement by the broker to sell the same securities at a later date at a fixed price. Generally, the effect of such a transaction is 4 TOWN OF WAPPINGER, NEW YORK NOTES TO FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 Summary of Accounting Policies (Continued) that the Town can invest its excess cash balances at competitive interest rates. Market value ofthe repurchase agreements approximates cost plus accrued interest. The cash and investments ofthe Town at December 31,2003 are as follows: Special Capital Trust & .,: General Revenue Projects Agency Fund Fund Fund lli!lli! !Q!!!! Non-Interest Bearing Accounts $800 $ -0- $ -0- $ -0- $800 Interest Bearing Accounts 421,362 2,103,860 3,765,663 1,044,035 7,334,920 Repurchase Agreements 355.762 -0- -0- ::Q 355.762 TOTAL $ 'JIl})M $2103860 $3 765 663 $ I 044 035 $7691 482 All of the Town's deposits were covered by Federal Deposit Insurance or collateralized with securities held by a third party custodian in the Town's name. 7. Accumulated Compensated Absences It is the Town's policy to permit employees of the Highway Department to accumulate a limited amount of earned but unused vacation and sick leave, which will be paid to employees upon separation from the Town's service. Other Town employees accumulate unused compensated absences. However, such earned, but unused compensated absences, must be used during their period of employment with the Town. No payment will be made upon separation from the Town's service. In governmental and fiduciary funds, the cost of vacation and sick leave is recognized when payments are made to employees. A long-term liability of $127,623 of accrued vacation and sick leave at December 31,2003, has been recorded in the General Long- Term Debt Account Group of Accounts, representing the Town's commitment to fund such costs from future operations. 5 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 Summary of Accounting Policies (Continued) 8. Pension Plans Plan Description The Town of Wappinger participates in the New York State and Local Employees' Retirement System (ERS), and the Public Employees' Group Life Insurance Plan (Systems). These are cost-sharing multiple-employer retirement systems. The Systems provide retirement benefits as well as death and disability benefits. Obligations of employers and employees to contribute and benefits to employees are governed by the New York State Retirement and Social Security Law (NYSRSSL). As set forth in the NYSRSSL, the Comptroller of the State of New York (Comptroller) serves as sole trustee and administrative head of the Systems. The Comptroller shall adopt and may amend rules and regulations for the administration and transaction of the business of the Systems and for the custody and control oftheir funds. The Systems issue a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by writing to the New York State and Local Retirement Systems, Gov. Alfred E. Smith State Office Building, Albany, New York 12244. Funding Policy The Systems are noncontributory except for employees who joined the New York State and Local Employees' Retirement System after July 27,1976 who contribute 3% of their salary. Under the authority of the NYSRSSL, the Comptroller shall certify annually the rates expressed as proportions of payroll of members, which shall be used in computing the contributions required to be made by employers to the pension accumulation fund. The Town of Wappinger is required to contribute at an actuarially determined rate. The required contributions for the current year and two preceding years were: 2003 2002 2001 ERS $115.996 $21.258 $11.442 The Town's contributions made to the Systems were in excess of 100 percent ofthe contributions required for each year. The Town has not recorded a deferred asset for the excess contributions made since the additional funds have been applied to the pension credits described below. 6 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 Summary of Accounting Policies (Continued) Since 1989, the System's billings have been based on Chapter 62 of the Laws of 1989 of the State of New York. This legislation requires participating employers to make payments on a current basis, while amortizing existing unpaid amounts relating to the System's fiscal years ending March 31, 1988 and 1989 (which otherwise were to have been paid on June 30, 1989 and 1990, respectively) over a 17-years period, with an 8.75 % interest factor added. Local governments were given the option to prepay this liability. The Town of Wappinger paid this liability in full in 1989. However, during the 1990 Legislative session Chapter 210 was enacted which required a change in funding method. This change was subsequently ruled unconstitutional but Chapter 210 also required that any credits created by the initial change be applied to the Chapter 62 billing change liability. Although the Town had paid its liability as noted above, an amortization balance was created, which was offset by the prepaid amortization credit. The Town, therefore, did not record any net liability. In 1998, the Town elected to apply the accrued pension credits against the amortization balance. 9. Deferred Compensation Plan Employees of the Town of Wappinger may participate in a deferred compensation plan adopted under the provisions of Intemal Revenue Code Section 457 (Deferred Compensation Plans with Respect to Service for State and Local Governments). The deferred compensation plan is available to all employees of the Town. Under the plan, employees may elect to defer a portion of their salaries and avoid paying taxes on the deferred portion until the withdrawal date. The deferred compensation amount is not available for withdrawal by employees until termination, retirement, death, or unforeseeable emergency. The deferred compensation plan is administered by an unrelated financial institution. Under the terms of an IRC Section 457 deferred compensation plan, all deferred compensation and income attributable to the investment of the deferred compensation amounts held by the financial institution, until paid or made available to the employees or beneficiaries, are the property of the Town subject only to the claims of the Town's general creditors of the Town, and each participant's rights are equal to his or her share of the fair market value of the plan assets. The Town believes that it is unlikely that plan assets will be needed to satisfy claims of general creditors that might arise. 7 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2003 Summary of Accounting Policies (Continued) 10. Post Employment Benefits In addition to providing pension benefits, the Town provides health insurance coverage and survivor benefits for retired employees and their survivors. Substantially all of the Town employees may become eligible for these benefits if they reach normal retirement age while working for the Town. Health care benefits and survivors , benefits are provided through an insurance company whose premiums are based on the benefits paid during the year. The Town recognizes the cost of providing benefits by recording its share of insurance premiums as an expenditure in the year paid. For the year of2003, $42,298 was paid on behalf of twelve retirees and recorded as expenditures in the General and Special Revenue Funds. 11. Property Taxes The Town submits an approved budget to the Dutchess County Commissioner of Finance by December 5th of the previous year. The County then establishes the warrant for the year which is due and payable on or about January 1 of each year. The Town collects the taxes on behalf ofthe Town and County without penalty through February 28th and with penalties and interest through August 31 st. The Town's portion of the taxes is recognized and transferred prior to the County's portion. Therefore, the Town receives its entire tax, leaving the unpaid to the County Commissioner of Finance. 12. Long-Term Obligations Long- Term Debt is recognized as a liability of a governmental fund when due, or when resources have been accumulated in the debt service fund for payment early in the following year. For other Long-Term Obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the General Long-Term Debt Account Group. 13. Insurance The Town of Wappinger assumes the liability for most risk including, but not limited to, property damage and personal injury liability. Such risks are covered by the purchase of commercial insurance. Judgments and claims are recorded when it is probable that an asset has been impaired or a liability has been incurred and the amount ofloss can be reasonably estimated. Workers compensation coverage is provided through a retrospective policy, wherein premiums are recorded based on the ultimate cost of the experience to date of workers in similar occupations. 8 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2003 Summary of Accounting Policies (Continued) 14. Reserves of Fund Equity The Town records indicate that portions of the fund equity are segregated for a specific future use. The following details the description and amounts of the reserves used by the Town: BALANCE AT DECEMBER 31. 2003 A. General Fund Miscellaneous: Reserved for Inspection Fees Reserved for Escrow Total Miscellaneous Reserves TOTAL 330,000 72.900 402,900 $ 402.900 15. Allowance for Uncollectible Accounts An Allowance for Uncollectible Accounts is not reflected in the Special Revenue Fund. Past due accounts after one year are placed on the county tax rolls for collection, and reimbursed to the Town as they are put on the tax rolls by the County. NOTE B - Interfund Receivables and Pavables The following is a summary of amounts due form and due to other funds as of December 31, 2003: DUE TO DUE FROM General Fund General Fund - Part Town Capital Projects Fund Water Fund Sewer Fund Trust and Agency Highway $13,956 5,389 490,178 22,070 20,000 15,312 1,471 $256,086 265,450 4,000 4,688 38,152 TOTAL $ 568.376 $ 568.376 9 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 NOTE C - General Fixed Assets Account Group The following is a summary of changes and adjustments in the General Fixed Assets Account Group, for the year ended December 31, 2003: BALANCE - January 1, 2003 ADDITIONS (DELETIONS) BALANCE - DECEMBER 31, 2003 Land Buildings Improvement Other Than Buildings Machinery and Equipment $ 6,549,550 7,421,156 $-0- $-0- $-0- -0- $ 6, 549,550 7,421,156 3.787.032 $34,894 367.838 -0- 2,909,956 2,904,927 240.489 3.914.381 TOTAL $20.682.665 $ 402.372 $290.354 $20.795.043. NOTE D - Bond Anticipation Notes Payable Bond Anticipation Notes Payable are renewed annually and are not to exceed five renewals, except for water and sewer improvements which may be renewed for the life of the improvement not to exceed twenty years. The bond Anticipation Notes outstanding as of December 31,2003, are as follows: AMOUNT OUTSTANDING AT DECEMBER 31, 2003 PURPOSE ORIGINAL ISSUE DATE MATURITY DATE INTEREST DATE ORIGINAL AMOUNT OF ISSUE Sewer 07/11/96 03/05/04 1.34% 403,000 45,000 Landfill 07/09/98 03/05/04 1.34% 580.000 75.000 SUBTOTAL $983,000 $120,000 Highway Equip 12/21/99 08/12/04 .95% 363,000 76,000 Highway Equip 12/21/00 08/12/04 .95% 239,991 96,000 Highway Equip 12/14/02 08/12/04 .95% 250,000 150,000 Water 12/18/02 08/12/04 .95% 205,000 185,000 Highway/Rec Equip 12/18/03 08/12/04 .95% 200.000 200.000 SUBTOTAL $1,257,991 $707,000 10 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 NOTE D - Bond Anticipation Note Payable (Continued) Purpose Original Maturity Interest . Original Amount Outstanding Issue Date Date Rate Amount of Issue At 12/31/03 Technology Ma~ter Plan 8/12/03 8/12/04 1.14% $175,000 $175,000 . 8/12/04 ' $'i 75,000 Rec.;ycle Center 8/12/03 1.14% $175,000 Highway Resurfacing 8/12/03 8/12/04 1.14% $-315,000 $315,000. Greystone Fuel Tank 8/12/03 8/12/04 1.14% $200.000 $200.000 Subtotal $865,000 $865,000 Water 5/3/01 4/30/04 1.08% 5.250.000 4.950.000 Total $8.355.991 $6.642.000 NOTE E - Long-Term Debt 1. Serial Bonds The Town borrows money in order to acquire or construct buildings and public improvements. This enables the cost of these capital assets to be borne by the present and future taxpayers receiving the benefit ofthe capital assets. These long-term liabilities, which are full faith and credit debt of the Town, are recorded in the General Long-Term Debt Account Group. The provision to be made in future budgets for capital indebtedness represents the amount, exclusive of interest, authorized to be collected in future years from taxpayers and others for liquidation of long-term liabilities. The Serial Bonds Payable, as of December 31,2003 are as follows: AMOUNT OUTSTANDING ORIGINAL AT ISSUE MATURITY INTEREST AMOUNT DECEMBER 31, PURPOSE DATE DATE RATE OF ISSUE 2003 Water 2,630,000 101,000 Sewer 3,005,000 112,000 Drainage 400.000 12.000 05/01/77 05/01/04 5.375% 6.035.000 225.000 Water 148,070 18,300 Sewer 362,000 44,850 Town Hall 700.000 86.850 12/01/85 06/01/05 7.75% 1.210.070 150.000 11 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2002 AMOUNT OUTSTANDING ORIGINAL AT ISSUE MATURITY INTEREST AMOUNT DECEMBER 31, PURPOSE DATE DATE RATE OF ISSUE _ 2003 *Sewer Tn-Municipal 11/12/92 09/15/12 3% - 6.65% 6.060.000 3.150.000 **Sewer Tn-Municipal 12/15/94 05/15/15 Variable 8.519.786 5.455.000 Sewer Tri-Municipal 06/01/95 11/15/15 3.70 - 5.55% 2.610.054 1.730.000 Water-Fleetwood 07/30/98 10/15/18 4.8094% 510.000 410.000 Emergency Services Building 05/04/00 05/04/05 5.50% 160.000 64.000 Purchase of Greystone Prop. 09/26/00 10/01/20 5.3173% 2.085.000 1.895.000 Refunding Serial Bond Water 452,732 356,400 Sewer 288,876 227,900 Drainage 1.253.392 995.700 10/02/01 08/15/11 3.772% $1,995,000 1,580,000 Refunding Serial Bond Emergency Services Building 10/02/01 10/11/14 4.0023% 1.275.000 1.115.000 Sewer 03/14/02 03/01/22 4.498% 9.836.556 8.896.556 Water 564,000 564,000 Sewer 905,000 905,000 RecreationlPark Lighting 785.000 785.000 03/05/03 03/04/23 4.07% 2.254.000 2.254.000 TOTAL $44.488.966 $26.924.556 *In September of 2002, New York State Environmental Facilities Corporation did a partial refinancing of the Revolving Fund Revenue Bonds, series 1992B by issuing Revolving Funds Revenue Bonds, Series 20021. The issuance of the new Bond will provide net present value savings to the Town of Wappinger in the amount of $213,764. **In November of 2002, New York State Environmental Facilities Corporation refinanced Revolving Fund Revenue Bonds Series 1994D by issuing Revolving Fund Revenue Bonds Series 2002L. The issuance of the new bonds will provide savings to the Town of Wappinger in the amount of$569,986. 12 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 The annual requirements to amortize bonded debt, as of December 31,2003, are as follows: . YEAR ENDING DECEMBER 31, PRINCIPAL INTEREST TOTAL 2004 $ 2,011,000 $ 1,255,727 $ 3,266,727 2005 1,848,556 1,135,264 2,983,820 2006 1,790,000 1,063,158 2,853,158 2007 1,830,000 990,784 2,820,784 2008 1,875,000 912,304 2,787,304 Thereafter 17.570.000 4.740.447 22.310.477 $ 26.924.556 $ 10.097.684 $ 37.022.240 NOTE E - Long Term Debt (continued) 2. Changes The changes in the Town's indebtedness during the year ended December 31,2003 are summarized as follows: BALANCE Januarv 1.2003 ADDITIONS (REDUCTIONS) BALANCE December 31. 2003 Serial Bonds $ 26,680,556 $ 2,254,000 $ (2,010,000) $ 26,924,556 Landfill Closure and Post-Closure Costs - Note J 150,000 Judgments and Claims 40,000 -0- (75,000) 75,000 40,000 -0- 80,000 8.327 -0- 127.623 $ 2.302.327 $ (2.085.000) $ 27.207.179 Compensated Absences - Note A.8 119.296 Total $ 26.989.852 NOTE F - Operating Leases The Town is committed under various leases for office equipment and communication equipment. These leases are considered for accounting purposes to be operating leases. Lease expenditures for the year ended December 31,2003 amounted to $38,909. At December 31,2003, the approximate annual operating lease commitments, subject to appropriation of funds, were as follows: 13 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 YEAR ENDING DECEMBER 31, 2004 2005 2006 2007 2008 2009 2010 TOTAL MINIMUM LEASE PAYMENTS OPERATING LEASES $39,199 $39,199 $32,218 $18,891 $16,956 $15,360 $3,840 $165.663 NOTE G - Deficit Fund Balances Certain Capital Projects had deficits of fund equity at the end of the year which are listed below. These deficits arose through the funding of expenditures by issuing bond anticipation notes. As the notes are paid, revenue will be recognized and the deficits will be eliminated. Castle Point Landfill (47,130) DC Airport Landfill ( 35,432) CWW 99 2-R. (3,822,046) Emergency Central Wapp Water#1 (521) Highway Equipment-1999 (75,473) Highway Equipment-2000 (95,725) Drainage (95,589) TriMunicipal Phase 3B (57,043) Highway Equipmenmt-2001 (146,349) Oakwood Water Improvement (151,577) Fleetwood Water II (13,021) Highway Blacktop/Drainage (297,965) Highway/Rec. Equipment-2003 (192,661) Wappinger Park Water (22,353) Technology Master Plan (134,255) Greystone Fuel Tanks (147,989) NOTE I - Commitments and Continf!ent Liabilities 1. The Town is a defendant in various lawsuits and tax certiorari cases. The outcome of these cases and lawsuits, as determined by the Town Attorney, should not result in material unfavorable settlements. Any return of property taxes made as a result of the settlement of a tax certiorari case is funded by an increase in the property taxes collected in the year subsequent to payment. A provision has been made in the Long- term Debit Account Group for $80,000. 2. The Town has received amounts from grantor agencies, principally the Department of Housing and Urban Development. Any allowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor agency cannot be determined at this time. -14- TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2003 3.Tri-Municipal Sewer Expansion A consent judgment was executed between the Town and the New York State Department of Environmental Conservation dated April 18, 1998 regarding alleged environmental violations. Due to numerous technical difficulties, the Town of Wappinger was unable to meet the threshold dates contained in the consent judgment, and an amended consent judgment was re-negotiated and approved by both parties. This amended consent judgment required the Town to construct a sewer line to the NOTE I - Commitments and Contin2ent Liabilities (continued) Tri-Municipal Sewer Treatment Plant plus a one million gallon expansion of said plant. The Town, however, does not own the plant nor does it have voting rights on the Commission's governing board. The plant is owned and operated by the Tri-Municipal Sewer Commission, made up of representatives of the Town of Poughkeepsie and the Village ofWappingers Falls. Construction is on-going; however, as a result of additional difficulties between the Tri-Municipal Sewer Commission and the Department of Environmental Conservation. Funding for the project has been provided by two authorizations for a total project cost of $19,630,054. Through December 31,2003, $17,189,840 in bonds have been issued through the Environmental Facility Corporation and $2,060,414 in Bond Anticipation Notes have been issued, which has been paid through tax levy. Total project costs incurred through December 31, 2003, amounted to $18,139,969. Under the terms of the agreements with the Environmental Facility Corporation, serial bond proceeds are required to be deposited into a Construction Fund Account, be invested in US Treasury securities until drawn upon, and be subject to regulatory approvals before being drawn upon. The unspent balance in the Construction Fund Account amounted to $314,918 as of December 31,2003, and is classified as a Restricted Asset to be used for debt service. 4. Tri-Municipal Sewer Plant Expansion - Phase IlIA In May 1996, the Town entered into a contract with the Tri-Municipal Sewer Commission with regard to the further expansion of the Commission's sewage treatment facility, from 2.4 million gallon per day capacity to 3.4 million gallon per day capacity. The commission will hire consultants to prepare a map, plan and report which will include environmental studies, permit applications and estimates ofproject costs. The funding for the map, plan and report and other related costs has been provided through bond resolution totaling $575,000, of which $145,000.00 has been paid through tax levy. On April 1999, the Town Board through bond resolution, authorized $9,970,000 to cover construction and related costs of the project, bringing the total authorized bonding for the project to $10,400,000. The Town Board, on April 23, 2001, adopted a bond resolution to increase the estimated cost of the improvements for Phase IlIA in the amount of$500,000 raising the authorized bonding for the project to $10,900,000. , ~ . TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 On March 14, 2002, Long-term Financing for the project was issued through the New York State Environmental Facilities Corporation in the amount of$9,836,556. In addition, the Town of Wappinger renewed a bond anticipation note in the amount of $95 5 ,444 to cover costs not eligible for bonding on the project through New York State Environmental Facilities Corporation. In 2003, $905,000 was issued in " serial bonds and $50,444 levied by taxes to satisfy the Bond Anticipation Note. Through December 31,2003, total project costs incurred amounted to $10,425,273. 5. Central Wappinger Water Improvement Area 99-2R In February 2001, the Town Board adopted a Bond Resolution authorizing the issuance of$8,590,000 in serial bonds to pay the costs of the water improvement. On March 2,2001, the Town Board issued $2,000,000 in bond anticipation notes to pay part of the costs of aforesaid project. In 2002, a principal paydown of$100,000 was made on the original bond anticipation note $2,000,000 with an additional borrowing of$3,150,000, bringing the outstanding note balance to $5,150,000. A prilcipal paydown in the amount of $200,000 was made during 2003 bringing the outstanding balance as of December 31,2003 to $4,950,000. The Town is planning to apply for long-term financing for the project through the New York State Environmental Facilities Corporation. The costs incurred on the project amounted to $5,049,689, as of December 31,2003. 6. Town Recreation Center On September 10,2001 the Town Board adopted a bond resolution authorizing the issuance of $2,496,000 to pay for the construction of the Town Recreation Center. The Town Board as of December 31, 2003, is in the process of rescinding the bond resolution. 7. Oakwood Knolls Improvement On June 10,2002, the Town Board adopted a Bond Resolution authorizing the issuance of $205,000 to pay for the improvements to the district. As of December 31,2003, the cost incurred on the project amounted to $152,711. 8. Robinson Lane Recreation Area Sports Lighting On November 12,2002, the Town Boar&authorized the issuance of$785,000.00 serial bonds for the purchase and installation of sports lighting at the Robinson Lane Recreation Area. On March 5, 2003, the Town of Wappinger issued $2,254,000 Public Improvement (Serial) Bonds, that included $785,000.00 for this project. -16- " -, . TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 Expenditures have been made on this project as of December 31,2003, in the amount of$706,963. 9. Greystone-Carnwath Mansion Project In the year 2000, the Town of Wappinger purchased the Greystone Estate Property. The Town has hired J. Kenneth Fraser and Associates to plan uses for the property and to seek grants to fund the project. As of December 31,2003, various grants have been applied for in the amount of$845,000. However, no funding has been received as of December 31, 2003. 10. Technology Master Plan On May 12, 2003 the Town Board authorized the issuance of$550,000 serial bonds to pay the cost of acquisition and installation of computer hardware and software, and furnishings to implement the technology master plan of the Town. The Town has issued a Bond Anticipation Notes in the amount of$175,000.00 to start the implementation of this plan. As of December 31,2003, the Town has incurred costs on the project in the amount of$134,709.36. 11. Recycle Center On May 12,2003, the Town Board authorized the issuance of$175,000 serial bonds for the construction and equipping ofthe Recycle Center Project. The Town has issued a Bond Anticipation Notes in the amount of$175,000 for the project. The Town has expended $166,077.52 on the project as of December 31,2003 with the project being completed. The Town has received a grant from the New York State Department of Environmental Control in the amount of$81,900. 12. Paving, Repaving, and Resurfacing of Town Roads The Town Board on May 27, 2003 authorized the issuance of $3,300,000 serial bonds to pay part of the cost of paving, repaving, or resurfacing various Town roads, including curbing, sidewalks, and drainage where determined to be appropriate. The Town issued BondAnticipation Notes amounting to $315,000 on August 12,2003 for the purpose of paving, repaving, or resurfacing roads in the Town. As of December 31,2003, $298,617 has been expended. 13. Carnwath Estate/Carnwath Mansion The Town Board authorized on June 23, 2003 the issuance of $200,000 Serial Bonds to pay the cost of removal and replacement of the underground fuel tanks at the Camwath Estate. -17- . .., .. TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2003 Bond Anticipation Notes in the amount of $200,000 were issued on August 12,2003 to pay for the project. As of December 31, 2003, $148,925 has been expended on the proj ect. NOTE J - Municival Landfills 1. Castle Point Landfill The Town has voluntarily entered into a Consent Order with the New York State Department of Environmental Conservation to close, cap and monitor the landfill at Castle Point. The Town estimates the cost of closing and capping the landfill to be $550,000, which has been recorded in the Long Term Debt Account Group (see Note E). The costs of monitoring, which could be required for up to thirty years after closure, have not been estimated since an agreement with the Department of Conservation has not yet been reached as to the nature and extent or required monitoring. The costs of both closure and postclosure monitoring are ordinarily recognized over the expected useful life ofthe landfill. However, since the landfill has stopped accepting refuse, all costs are being recognized as the terms of closure and postclosure requirements are determined. The actual costs may be higher due to inflation, changes in technology or subsequent changes in regulations. The Town solicited and awarded contracts in 1998 for the closure ofthe landfill. A total of$563,931 has been expended on the project as of December 31,2003. 2. Poue:hkeevsie-Wavvine:ers-LaGrall!!:e Joint Landfill The Town has shared in the monitoring costs of a closed landfill, the Poughkeepsie- Wappinger-LaGrange Joint Landfill. This joint activity included the City and Town of Poughkeepsie, the Village ofWappingers Falls and the Town of LaGrange, as well as the Town of Wappinger. All costs associated with monitoring are recognized as incurred. No assessment of the extent and cost of future monitoring costs has been made. Any such costs will be shared equally among the five municipalities. The Town's share of monitoring costs for the year ended December 31,2003 amounted to $1,885. Financial statements are available from the Joint Landfill's Board. On January 26,2004, the Town Board authorized the issuance of$850,368. Serial Bonds to pay the Town's share of the cost ofthe closure and remedial measures to be undertaken at the so called Poughkeepsie- Wappinger Joint Landfill, in accordance with an Order on Consent dated November 3,2003 in and for said Town, received from the NYS Department of Environmental Control, to include incidental drainage and other incidental improvements and expenses. -18-