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2002 ~ ' 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 12/31/2002 A~C~/V MAY __ E:D ~ 2 2003 I OWN CLf2Ak ************************************************************************************************************************************* 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 Municipal Affairs Albany, New York 12236 Page 1 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Results of Operation tmlitmjj@1W#.iiittffftff:::t::'fffffffff:ttt'f::ff:'::::fffitt::::'ftj,tfffff'tt:fff:t:fffff::fffit:':fffttt::flltt'ff::::':~~Mfffffnt:fii:ll$.l@.itf::lMt:::f::::f:~m2fftfj:f:1 Detail Expenditures And Other Uses Transfers, Other Funds 105,000 A99019 59,625 t~@AgqilIIF~Wi9.~I~Hr~~~fi~PW'rH~i,:: ....--.-.-.,-...........-...-.-.-----.-------.--........ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............................,........................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......................................................... . .. ... . ... . . , . . . . . . . . . . . . . . . . . . . . . . .. ........ ...........:.:.:.:.:.:.:::;:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::.:.:.:.:.'. ........................................ ..............2. "'7" $i" .......1. "S' '1'" ................................. ........ .. . ................. ........ ... ................ . . . . . . . . . . . . . . . . . . . . . . . . . . . '::':":,):.J.:\.:::.:t>:.:,:.,{{,))):{",) ................. M21J.lij6.ij .. ...... ::::::::::;:::::::::;::::::>:::::.:::/::::::::.::::::::::::::::: Page 9 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Changes in Fund Equity t~Mpj$i$_\\\\\\\\\\\\\\\\\\\:?:~:\\\\\\\\\\j:\\\\::ttt\t\\::::::::\\t\\\~?????:\\\\\\\j::~~~j~\j?~jr:jW~j~\t\\j?ooQ.r\\tt\\lIrr\!ii:lMl.@ifr%::r:\\\\~$:\\tt:~j~jj~1 ANAL YSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 907,045 907,045 2,599,559 2,756,151 750,453 750,453 750,453 3,202,036 3,214,850 737,639 Page 10 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Budget Summary P.M~f~@lil.))):JJJ:):))))JJ:)iJJJ::)tiJ\\JJJt)inl:)!~#.C.~iifHW))mlMijr~:))l!ImIM~af~~:~liWWi\:::IE:JJJ~Mt$.~M~iJJJjW)Aijii.i$.t~~:::::m Estimated Revenues And Other Sources Est Rev - Real Property Taxes A1049B 1,324,037 Est Rev - Real Property Tax Items A 1 099B 55,000 Est Rev - Non Property Tax Hems A 1199B 0 Est Rev - Departmental Income A 1299B 21,000 Est Rev - Intergovernmental Charges A2399B 0 Est Rev - Use of Money And Property A2499B 211,390 Est Rev - Licenses And Permits A2599B 4,600 Est Rev - Fines And Forfeitures A2649B 147,000 Est Rev - Sale of Prop And Comp For Loss A2699B 0 Est Rev - Miscellaneous Local Sources A2799B 1 ,000 Est Rev - Interfund Revenues A2801 B 0 Est Rev - State Aid A3099B 663,000 Est Rev - Federal Aid M099B 0 %9.rAWI~,~~~~R#@r.ij~~::::):::: :::::;m~~~? Estimated - Interfund Transfer A5031 B 0 Appropriated Reserve A511 B 0 Obligations Authorized A530B 0 Estimated - Proceeds of Obligations A5799B 0 Appropriated Fund Balance A599B 527,465 ~;~~~.~;ll~~~.ll~~~~I~I;~.~~~r~;.~.~...................:......:.:.:...::. ... i...I.I!.!!.!I!!I!!.!I..!!.....!!.~]~I[~~~!.!!!. Page 11 1,324,037 60,500 o 37,000 o 239,765 4,300 141,000 o 1,000 o 854,466 o :::::,:,::j;f:~i;g~!:: o o o o 601,310 .. ....~~:~i~~~.... .. ... r~;t~~;!:t!:: . ... o 5,500 o 16,000 o 28,375 -300 -6,000 o o o 191 ,466 o ::@~~;M1: o o o o 73,845 73.,845- ..... .........0.. .....--...... ............... :I::::MiiMiI ............................. ..... ......... ----. 1,324,037 55,000 o 23,000 o 146,390 4,600 147,500 o 1,000 o 718,000 o :~~#1~;~~l 15,045 o o o 350,000 ........................ . . . . . . . . . . . . . . . . . . . . . . . . ................3.. .6. .1....0..4... .5.... ........ . . .... . . ..il.i:~~i~j;$i~i ............................... ..... ... ----........... OSC Municipality Code 130386800000 . ' 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 2001 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2002: (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 2001 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 2002 (A) GENERAL Balance Sheet 19milnM~iMii1mt)fit:::::::::::f::)fff):'i::::::::t'i'itttt:::::::::::::::))))))))f))::f::)::::::::::)f:t):::ff:t'it::::ttt'it:::::f)f::f:t:::::)Jl:f)):::::::t:~t:):::::::::tt:mfi(<<ic.il~I::lrt:::::)))~Z.t:f::f:t::::l Assets Cash A200 Cash In Time Deposits 716,433 A201 576,281 Petty Cash 800 A210 800 Investments In Repurchase Agreements 11,320 A451 0 Accounts Receivable 23,115 A380 58,083 State & Federal, Other 16,827 A410 218,121 Due From Other Funds 65,606 A391 38,432 Prepaid Expenses 7,094 A480 8,659 Page 3 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Balance Sheet Page 4 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Results of Operation P.Wif~W1i.$Miffff:::i:tttttt::i:i:i:tt::::::::i:tttttt:f:i:i!:i:\ttt:f:i:iff:Itttif:ti:tiff::t:ttttti:tttt::::i:tttititttittHtff:tiftQIWt:::ff:t:lIiiJ~4p.iiMti!tit:H:tt:f:tt~Q.q$.f:if:tit:l Detail Revenues And Other Sources Tax Collector Fees Clerk Fees Vital Statistics Fees Park And Recreational Charges Other Culture & Recreation Income 1,216,813 A1001 A1081 A1090 A 1232 A1255 A1603 A2001 A2089 A2401 A241 0 A2530 A2544 A2610 A2611 0 A2655 2,890 A2680 A2690 A2701 A2705 A2770 169,526 A3001 653,688 A3005 16,490 A3040 0 A3060 16,691 A3089 1,324,052 Games of Chance Dog Licenses Sales, Other Insurance Recoveries Refunds of Prior Year's Expenditures Gifts And Donations 169,526 1,126,597 12,624 10,470 19,900 Interfund Transfers A5031 176 Page 5 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Tax Collection,pers Serv Tax Collection,equip & Cap Outlay Tax Collection,contr Expend Results of Operation l$.W1iM;j'~iMl1itm.~::::r::::::rfrrr:::::t:rr::::::rrrr::::rit?::tttt::tttt:::rr::::t:,rr::::::trrrrr::rrr::ttrr:tt:::trnn::tn:tt:f::::::lItt?tt@OO:t::t:ftt::WtJ~ijl$.W1iffJb:ffnnr~OO~t':n::fn':J Detail Expenditures And Other Uses Legislative Board, Pers Serv Legislative Board, Contr Expend . . . .. .. .... .... - . . .. .. .. . .. . . TOT;:Ak l~iSiadM~~Wl~(.}<.: Municipal Court, Pers Serv Municipal Court, Equip & Cap Outlay Municipal Court, Contr Expend A 10101 A10104 Supervisor,pers Serv Supervisor,contr Expend . ... ... ........ .. .... iQtA~ taw < < ... . Personnel, Contr Expend A12201 A12204 A 13151 A13152 A13154 A13204 A13301 A13302 A13304 A13551 A13552 A13554 A13804 107,548 A14101 117,074 20,519 A14102 1,154 2,494 A14104 19,596 49,780 A14204 134,562 1,200 A14304 0 A14404 A14501 A14504 23,266 6,780 Fiscal Agents Fees, Contr Expend tqt~gf#9.Jj:*~~n.tSF:~~ Clerk,pers Serv Clerk, equip & Cap Outlay Clerk,contr Expend ... .... '.. TdtALq~i~/ Law, Contr Expend Central Storeroom, Contr Expend Engineer, Contr Expend Page 6 OSC Municipality Code 130386800000 ~ TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Results of Operation ~wifPi@imt9.i\t:{)ff:t(:::::::::::::::t:(:t:tltttttt:}ttt:::t::t:::::ttttt:t::ttt:::::tt:::t:ttrtt/)::tttttttttttt:::tt:W::t:::t::::::::m:W:tt:tt:t:::II:ttl1l!;ll$wiMt:W::tt:tt::~OOZ:::::::::::::::::::tl Detail Expenditures And other Uses Central Print & Mail,contr Expend A 16704 Unallocated Insurance, Contr Expend Municipal Assn Dues, Contr Expend Traffic Control, Contr Expen Control of Animals, Pers Serv Control of Animals, Contr Expend Street Admin, Pers Serv Street Admin, Equip & Cap Outlay Street Admin, Contr Expend Veterans Service, Contr Expend TOTAL Veler:lItiS $!w.l~e Other Eco & Dev, Contr Expend Page 7 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (A) GENERAL Results of Operation t*lifw.l.~MiWiiltttttttttttt:/:tttttttt\ttrt/:(\:\\\\i((((:\\~t:\~:tft\\\\\\\\\\\\\\tt~(:\tf\\ll\((((@<<ll\\::\\}II"g::Jli:llmWig:\lW((\:::\:!OO~r:~::::(\:~:::~1 Detail Expenditures And Other Uses Playgr & Rec Centers, Pers Serv Playgr & Rec Centers, Contr Expend TOTAL Plllyg~~d~ec c~rs Joint Rec Proj, Contr Expend T.OTAL j6.irit RecPidJ. . Library, Contr Expend Environmental Control, Contr Expend A71401 A71404 Celebrations, 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 10,164 85,533 8,376 3,556 5,237 1,576 195,857 5,100 195,425 35,000 A971 06 A97306 TotAL DebtPtil'icipai .. Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes A971 07 A97307 Page 8 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Budget Summary ~~M$.~$#l_r{r:?I:r{rr{{{r{{:(:::?:{:I:::{:?:::rrrr{?dl:{!.:~W:1i~~::Hlrr]1.4s.frlM_II[11::'::r:::Mij~~:~OO\t::':'rl!:rr':rpli1i.tjl$.Mrrr1!r:A~\:i#.lmfEr:::1 Appropriations And Other Uses App - General Government Support App - Education App - Public Safety App - Health App - Transportation App - Economic Assistance And Opportunity App - Culture And Recreation App - Home And Community Services App - Employee Benefits App - Debt Service ,.............................................. ... .. ................ ................................ ]9t~g~ijpr9ijr.m~i9ij~[[:: ".::"':""':"""":,:, . ... Other Budgetary Purposes App - Interfund Transfer 'i.@tAM?mi.,fij~#[::::c:r m9rffl~Appmmm~!9##::A9~9~h~r9~i~:[:I):: (A) GENERAL A 1999B A2999B A3999B A4999B A5999B A6999B A7999B A8999B A9199B A9899B 1,267,633 o 28,733 3,000 127,780 1,100 789,579 14,350 290,380 431,937 .......................................... ':[:::::[[#i:!M~~: ................ ...... .... ...................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. ... A962B A9999B 0 ........................ .............,.......... r~rrfrrrfrr) t?r<rrrt~f : : : : ::::: : ::::::: ~~fHiH~jrrrr[f~~rtj).~.I'[~~~ Page 12 1,488,726 o 29,433 3,000 127,380 1,100 791 ,579 12,400 318,198 431,937 [:~;gij~ir~M:::;: 59,625 ........................ .....................:$.. $......$2.... ...$.... ........... .. .. ............ . . . . . . . . . . . . . . 1::I:li~;~~~;~r!: -221,093 o -700 o 400 o -2,000 1,950 -27,818 o .......................... . . . . . . . . . . . . . . . . . . . . . . . . . . \::::$4~;~~1 o -59,625 ii!!~m~': ............................. ............................. . ...:H~9~;~~~: 1,335,595 o 36,455 3,000 136,472 1,225 519,510 14,350 352,200 385,765 [:[:[:~~?!1;f!~: o o ................::::::.........~. :[:i~1ti;i~ OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet [9.ij;j~::~_iffffff:::((((((~~:~::~fffffrffffff:(((::((((~:~rf:((((:fffff::fff:t(~:~fff:::((:fm:m:m:m:m:m:m:rm:lI:m:m::(~:~m:f;w.tltrr:~:~:~:~:~::m::ll:t:$ijp1:~@@mdl~m:m:m:m:m:m:~oo~t:(t(((l Assets Cash In Time Deposits 394,483 B201 225,038 Investments In Repurchase Agreements 416,343 B451 353,428 Accounts Receivable 59,580 B380 60,444 State & Federal Receivables 220,324 B410 298,728 Due From Other Funds 620,938 B391 296,837 Prepaid Expenses 0 8480 0 Page 13 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet Due To Other Funds 347 B630 347 A~~i~! 545,403 . .. .' ......... ............................ :::r:~;~~~ 174,222 ..... ................... ......... ....... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. .. . . . . . . . . . . . . . . . . . . . . . .. ... ............ .. :::::~~~!~~~ :Aa~$;41~: ::11~~i;i1~ Page 14 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (B) GENERAL TOWN-OUTSIDE VG Results of Operation l.9.9.itP.il@JP.ffiiil/~((::::((/:/:://:(~/::::::/)/////////::////////://(/(((f//////////)://(::::(::::::::::~:::::::(:::/:::/::(H((((:/lQ.tt/:///JI//:i~p.$mit::/H::://///iOO$(((/:::/1 Detail Revenues And Other Sources St Aid, State Revenue Sharing St Aid, Other Aid (specify) St Aid, Other Aid For Public Safety St Aid, Youth Programs 0 B1001 B1120 B1170 B2070 B2110 B2115 B2130 B2401 B2590 B2665 B2680 985 B2701 750 B2770 50,000 B3001 B3089 3,000 B3389 8,118 B3820 50,000 2,000 o 8,517 Page 15 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (8) GENERAL TOWN-OUTSIDE VG Zoning, Pers Serv Zoning, Equip & Cap Outlay Zoning, Contr Expend TQTAL Z1)lling Planning, Pers Serv Results of Operation ~wifMl.l@l,*#.jt/ff;:;:::;:::):((:))f))))))){)))):('i(;:;)j::(:)))))))::))))):(:)))))))))::::j:)):f(;):;j;j;):;:;);::::(;:;lI:):::(:\fj:~M)))))ll(:jJ~i:lMi.wiK(:lk;j((;)):'@Z))))):::j Detail Expenditures And Other Uses Fiscal Agent Fees, Contr Expend 535 813804 TOTALFis~1 Age.~tF.ee.s Law, Contr Expend 814204 Personnel, Contr Expend Engineer, Contr Expend Police, Pers Serv Police, Equip & Cap Outlay Police, Contr Expend Fire, Pers Serv Fire, Equip & Cap Outlay Fire, Contr Expend Safety Inspection, Pers Serv Safety Inspection, Equip & Cap Outlay Safety Inspection, Contr Expend Page 16 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (B) GENERAL TOWN-OUTSIDE VG Results of Operation ~4.iilitl:ijiMf:lmiiifIIIIIIIIIIIIIIIIIIIIIII~J:IIIIII::::IIII))I)))II~JJ:I::IIIIIIIIIiJ:lllllllll~~IHIIII:J~%IIIIIU:::::Il!1i:l@4.iiliIflWJ:::~J:::::~~~~OO~F~~~~J~)lJ Detail Expenditures And Other Uses Planning, Contr Expend 40,864 B80204 116,186 Drainage, Contr Expend B90108 B90308 B90408 B90458 B90508 B90558 B90608 B90898 State Retirement, Empl Bnfts Social Security, Empl Bnfts 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) Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 135,500 25,000 B971 06 B97306 163,592 75,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes B971 07 B97307 41 ,492 6,368 Transfers, Other Funds 585,000 B99019 500,000 Page 17 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (8) GENERAL TOWN-OUTSIDE VG Changes in Fund Equity 1Qi@~J;m$im._f:r:f::frffrirr:f::fff)ff)rf)f:rrr:::::::::fffff)f::fff:::::rrr:ffffffffff:rrr:::::f:::rrr:ffit::rllfffi:::fi~Q.lft))tfll':t::l!ilili?$.il~rjmr:)::::::::::::~~:::::)ttfiJ ANALYSIS OF CHANGES IN FUND EQUITY Prior Period Adj-Increase To Fund Equity Prior Period Adj - Decrease In Fund Equity 2,023,250 o 88012 778 88015 2,022,472 1,457,513 1,814,411 1,665,574 1,665,574 347 ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 1.665,921 1 ,502,052 2,032,555 1,135,418 Page 18 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (8) GENERAL TOWN-OUTSIDE VG 8udget Summary ~i.lWtm$i#lij@f)))ffi((f:?:::::::f::::::::f)f)f)/))))):??:f::fll::?~$P.e.~~I~f]I:((:gijOOiM~lmm?::W?f::M~~~J:~l>>~)f)IFf/fP.1<<@il@iffi@?I!fiA~ii.illlW~Wm::m 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 810998 811998 812998 823998 824998 825998 826498 826998 827998 828018 830998 840998 T9I#Wt.~~,i&.##.~6#.vWiY#~::::':::::i::::::::;:::::::::::::: Estimated - Interfund Transfers 850318 Appropriated Reserve 85118 Obligations Authorized 85308 Estimated - Proceeds of Obligations 857998 Appropriated Fund 8alance 85998 I9ii~@ii.!~~~r~9yr~i":":::::::,,:,:,.:> [9f~4,~~!~~#f{~y~ijij~~~ij9m#r!9W~~C:::::'n:.:: o o 880,000 69,500 o 45,000 75,000 o o o o 50,000 o .........,.............. :':':"""1"':"1."1'" $'.' 'J."" 0...0....'.: . . . . . . . . . . ~:~:~:~:;;;::: .~::. ::~.:::.:::::::.:::. :::.,::~ o o o o 781,297 .......................... . . . . . . . . . . . . . . . . . . . . . . . . . . . .....'7.. 8" .1..a..... s:" 7:" ......'.'.'.'...'. ... . ........ ~~~;i~i::::::::::.:IIII: ............................... . . d. ___, _ . Page 19 o o 928,600 90,380 o 15,000 110,000 o o o o 52,000 o .................................... :::::::::m:1;MI;~~~ o o o o 862,755 ........................ ........................ .:'~~;f~~: ..... f:::~;ij$.lU'$? o o 48,600 20,880 o -30,000 35,000 o o o o 2,000 o ....................... ::::nn::::i~~~\Q~::: o o o o 81,458 ....::~~~~,:: ..:.:::... ... 1:~~i~~": o o 880,000 89,000 o 12,000 75,000 o o o o 50,000 o ::.::j~1P~;RP9:: o o o o 545,403 :::::::.~ffli~~~.: :iJ~~~~i~~~: OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (8) GENERAL TOWN-OUTSIDE VG 8udget Summary P.<<l.~t~@Hp.~@':f::r::rrrit:::rrrrrrrrrrrrrit:i:::::rrrrrrrrllt:iJ#.C.~i:l~fMliirWis.w.~I::~~rm::[m:[:::[:::M~.~MiOOim:m:]wr:tJ;1111~MijiM:tttl!r'AijMilmf~oor:m Appropriations And Other Uses App - General Government Support B 19998 161 ,500 App - Public Safety 839998 339,330 App - Health 849998 0 App - Transportation 859998 28,000 App-Economic Assistance And Opportunity 869998 3,000 App - Culture And Recreation 879998 192,142 App - Home And Community Services 88999B 288,971 App - Employee Benefits B9199B 101 ,400 App - Debt Service B9899B 286,454 ................................................ ......................................................... ......... .......... . *PtAPAPPrnPff,@i:!pi:C:C:(: . ...... ... F::::':dM~t~t[ Other Budgetary Purposes B962B 0 App - Interfund Transfer B9999B 500,000 ....._----..---'..-.-.................... ._----.-............._--.---....----..................,...... .......__...-....--...... ...".................... ........................................... ................................................................. .................... ........................ tb.t.AliiJ)tM~ij~~$.::::::::::::::Sj)O\P.OO\:: [9[~~:~ppr9pffii~j~ij![~ij"mijwD9~!i:.:...[.:.:[::..~1~ii~i~i:......... . Page 20 193,625 389,990 o 23,200 6,700 147,142 428,024 83,600 286,454 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ::~;~~!;t!! ... o 500,000 ..................... jl:I:I:I~~I~:~~~[:::::..[:::. -32,125 -50,660 o 4,800 -3,700 45,000 -139,053 17,800 o [:::it1~t;Mf o o :0\ , .. ...... .............................. :::::':':':,',::::::::::::~:ii""::ii"i~::: :~; ~:~::;~:~;::::::~:::~~~~~::~~~~::~:: 151,500 347,959 o 28,000 10,000 170,604 327,964 94,580 270,796 ................................ ...........................1.........0...1....4.0. ... ..:3...... .............. .. .. .. ............... ... . ............... .... :::::::::::::::::::'{:::::f,.,:,{.}:".:".,:..) 250,000 ........_--..............._-. [[:[:::::[~~~;~~~:: [:::[::j~~!Mm~: OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (CD) SPECIAL GRANT Balance Sheet ~ljfOj$.iiliM#.ii:ff:tt::t:::::::fffffffff:::t:::)::::!:ff::::ffffffff::f:::t:!::::ttttt:ffffffff::f))ffffff:/:::fff!:):t@]I:ff::::f:::::J~~qfff:::t::tm:t::(mit.~mtml~::::)t)tt~@~k)ff::::f:l Assets Cash In Time Deposits 1,382 CD201 44,966 State & Federal Receivables 21,750 CD410 o Page 21 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (CD) SPECIAL GRANT Balance Sheet ~\$.MiM4#.p.Mif(::t)m:::(}m:)}:(::::::(/:}f:mi))//:/fi(:::j:::::f:m:j:m://m:m:/::::::/::'::::::(/::::::::)(:::m:m:/)m:m:/}:::::::::::(:m:m:}}::m:m/::::wm:m::::)/:m:]~OO1.::((((m{/llmt]lJoo~~i;l~tm:::H)}}:(:::::}J~l>>~/m:}m:f:):/1 Liabilities And Fund Equity Accounts Payable CD600 24,720 Due To Other Funds 21,750 CD630 o Page 22 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (CD) SPECIAL GRANT Results of Operation ~QjifMi~~f:1R:/::/:tt[/:::tt:////(}t::::tttttttttttttttt?ttt:///:?:////:?????t[:::t?[////:::=/::=t[:????:t"l[????:=lQ.q,1tt?t:t=lli/J;{lp.~~~i:@f=::tll/:::tttt~t&4.//t/::/:l Detail Revenues And Other Sources Community Development Income 0 CD2170 0 Interest And Earnings 41 CD2401 40 Fed Aid, Community Development Act o CD4910 o Interfund Transfers o CD5031 55,000 Page 23 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (CD) SPECIAL GRANT Results of Operation tmlifP.iMi:!mWi)::::;:::;:::;~:)))~:::::))~jjj:::))))t))ij:))))))))):jjjjj:::))ij:::;:::::::::::::)~:))))))t)))))t)))t)fflljjj:::)@Q.0i)ijj:)II:));.ijR$.mlifj:m::::)))~j::~~lt))):j:J Detail Expenditures And Other Uses Spec Proj For Elderly,equip & Cap Outlay 0 C086702 36,086 Transfers, Other Funds C 099019 176 Page 24 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (CD) SPECIAL GRANT Changes in Fund Equity ~!@Mtm~li:liWi,m)))itt:::):::t:)))))))))):::::::::tti))))))))::::):t:):::::ttti)))))))it:))))::::::)))))):ttt:):tt11::))))):::OOQ.t)t))))Im/]M~lit)Ht):t:)t::~~:)ittt:)1 ANALYSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 131 131 41 o 172 172 172 55,040 36,262 18,950 Page 25 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (DB) HIGHWAY-PART-TOWN Balance Sheet mliiJ$~iiliM@t//:i:ri:i:ri:i:irrrrri:i:i/:::rrr'tt:::rr{:/:::i:::rr{ritrrrrrrri/'i'it:i:i::t:i'i:rrr',"'}:rrrr::rrrrr:t:rrrrr':lI::t::::::rrrt{lgkr:t:::::r::JWr'iMg~i$l?i:lIt,::i:r::":::t:~OO$t:::::r::::rd Assets Cash In Time Deposits 254,831 OB201 300,692 Investments In Repurchase Agreements 59,995 OB451 0 Accounts Receivable 0 OB380 0 Due From Other Funds 166 OB391 0 Prepaid Expenses 0 OB480 0 Page 26 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (DB) HIGHWAY-PART-TOWN Balance Sheet t.Wifl!m$$.it~)m::HHttt:)m:m:rrm:i~rm:m:mr::::r::t~r)::)m:)::)):::tt~:~::::::~~~~:::r:~:~::::t)@r)::::::r:::::ttttttt:r:t~::):rtt:::::J::~:~II\r:t~::))):*l>>i):J:rt{ttll)):$.@($i;ijt):nt:))//):::*~~:r):::):):r:q Liabilities And Fund Equity Accounts Payable OB600 Page 27 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (06) HIGHWAY-PART-TOWN Interest And Earnings 27,970 062401 14,171 o 062665 4,182 062680 :;;::::1.4~~: 1 ,830 062701 o 062770 ..m!~!: .. ....))1. ::;,::::::: .... Sales of Equipment Insurance Recoveries SI Aid, Consolidated Highway Aid St Aid, Suburban Hwy Improv Pro 103,744 o 063501 063502 I nterfund Transfers 597,000 065031 538,797 Page 28 OSC Municipality Code 130386800000 Results of Operation ~W:ll(~@_)))))t))))~(())):))):(tt;:~:;:~::):~:;)))))))):(t(::((::(::;:~:(::;)~~::)))))t)))))))):((;;;);\\(\~lI(((::~:::~:;:~~~)):(((:W:)J11i:lP'@'W:liii)IH)))))Ji~oot)))i((l Detail Expenditures And Other Uses Maint of Streets, Pers Serv Maint of Streets, Contr Expend TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (08) HIGHWAY-PART-TOWN 682,853 747,041 0851101 0851104 721,544 453,850 0851301 0851302 0851304 Snow Removal, Pers Serv Snow Removal, Contr Expend 67,716 0851421 211,104 0851424 104,551 . ............................ . ........................... .' . .... ..............1..04....$.....6...1..... . ...... ...... .. .. ..... .... ...... ... ................... .. ::;:;:;:;:;:;:;:::;:;:::::;:::;:::::;::.::.<;.......-.. :.:.::: 37,268 o 56,051 56,480 186,575 State Retirement, Empl 8nfts Social Security, Empl 8nfts Worker's Compensation, Empl 8nfts Life Insurance, Empl 8nfts Disability Insurance, Empl 8nfts Hospital & Medical (dental) Ins, Empl 8nft 4,975 61,623 45,861 2,084 762 144,290 0890108 0890308 0890408 0890458 0890558 0890608 :~$~;~t~::::::i::: .......... . 10,200 0897106 123,000 0897306 n. ....... . - ................... .............. ................................. n' ........................... .......................... . . . . . . . . . . . . . . . . . ., .. . .................. Oebt Principal, Serial Bonds Oebt Principal, 80nd Anticipation Notes 8,136 63,281 61,877 2,107 1,069 142,757 . , . . . . . . . . . . . . . . . . . . . . . . . ..... .............2..;;;9..:;9<;;;'... r>\/?}( ;.t j'tk~~ 10,200 174,000 Oebt Interest, Serial 80nds Oebt Interest, 80nd Anticipation Notes 964 0897107 22,969 OB97307 321 12,038 Page 29 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (DB) HIGHWAY-PART-TOWN Changes in Fund Equity ~i@.lt~@jmWf:tJtigtJtt:tt~ttttJttJJJJJJJtJ::::t:~:tt:~J:~~:~~t:t~JJ:tttt~tJtJJttJ::tJJJ:::~:tt~JJ::tJJ{J::::Wtt~~~:~:tt::@~;WJ:~tt{~~JlItt($a.Mi.@lit::~:lHttttt~~~tt::~::::~~:t::~1 ANALYSIS OF CHANGES IN FUND EQUITY Prior Period AdJ.- Increase In Fund Equity Prior Period Adj - Decrease In Fund Equity 459,174 12,334 DB8012 4 DB8015 471,504 2,156,243 2,340,702 287,045 287,045 156 o 287,201 1 ,990,507 2,114,760 162,948 ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Page 30 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (08) HIGHWAY-PART-TOWN 8udget Summary ~i.l.i.f@i~i@f:t:II::::tt::tttttttt)t)tttttttttttttWtljiC.~a.~fHltiHim.s.m.ijf~~~~ittm:IIMQ_~nl~::i:ttl!I:ti:tlli.Il'f(#'~&.i~t:I:::t:IW1liilMiOOit~WfII Estimated Revenues And Other Sources 0810498 1,327,000 0810998 0 0811998 0 0812998 0 0823998 4,000 0824998 31,000 0825998 0 0826498 0 0826998 0 0827998 0 0828018 0 0830998 0 0840998 0 ............................... :.....;::.::::;;?;;f::1A~~i9m: 0850318 538,500 085118 0 085308 0 0857998 0 085998 247,544 .......................... ... ..::::.:::I~~t~I:. .::<.::::::::.f;:#.M~;~+t;: Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Non Property Tax Items Est Rev - Oepartmentallncome 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 m9tA4'@~i.!ijR~v~Wjiji~;:.:: Estimated - Interfund Transfer Appropriated Obligations Authorized Estimated - Proceeds of Obligations Appropriated Fund 8alance .................................................................................................... TtttAQe$~liffllfW,jQfuijr$am~~~(:);;?n . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . r9't'~~~~~!iit~~#~~~~9!~i~itl~r~~9,r~~. Page 31 1,327,000 o o o 4,000 31,000 o o o o o 104,551 o . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...................................1. "'."'$' "$'" '''$,' 's' .1.......... .................... . . .... . . . . . . . . . . . . . . . . . ... .. . . . ................... "' .... :::::::::::::::::::::::::::::::::::~.::?:::.:::.:::.::~..::::;,::~.:;~:;:~: 538,500 o o o 247,544 ...............:<.........);t~~;~f:;::...:. i:;::;~~i~~~;AAM;): o o o o o o o o o o o 104,551 o ::::::::::::::::::::::::::;:::::;;j:tilliiji:f::::: ::::::::::::::::::::::::::::::::::~~::..:~:...~::..:::;=;::; o o o o o :::(:iR :;MMiYW 1,530,825 o o o 1,500 10,000 o o o o o o o :~~'1~;'~~ 250,000 o o o 150,000 .................. .......:.:.::~!i!~ /::;;;:;J~~~;~~ OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (08) HIGHWAY.PART-TOWN 8udget Summary RlilM~$i$._//////:(://::::/::/:(://{/{:(:{::{::::{:(:::{{:(:{II:{lmit.~im.:III{i#:mi:W~fm(:{II(:::{'M~i$f.~~niOO~///IPf//o.iff.~t~M#it///:IM9~~\:lim.$:1::~~:::::::1 Appropriations And Other Uses App - Transportation App - Home And Community Services App - Employee 8enefits App - Debt Service 0859998 0889998 0891998 0898998 1,646,902 o 290,100 211,042 1,751,453 o 290,100 211,042 -104,551 o o o 1,455,000 o 300,925 186,400 Other 8udgetary Purposes Interfund Transfers 089628 0899998 o o o o o o o Page 32 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Balance Sheet ~l~:::PiMtliillitffi:':f::::::::f::fffffffffff':i::t:ffi:'t:i:i:fffffi:fi:f:ttiffffffit:::i:::it:fi'ffj:fffj:':ffff':f::ff:t:f:t:::flltt:fi,:tt:iQ.gj,:::fffi:fi'i::lIfitijP.iM$li:mf':ffff~oo~tt:::fff'l Page 33 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Balance Sheet ~ii4iftm~imiAAiW:::t::::t:::::::::im:i:fi:fffi}ii:i:i::::}:it:m:it:::m:m:m:ii?fit:f?/f:::t:::m:m:/fffff:t'ffit::t:i:i:i::ttt:f::m:f::?it:i:::::/t:::}tllm::t:f:t::tt~li$ttiiiim:tf:ttjlf:t#.m.iC.~#.'-:fiilt::::ff?/:t::::~l>>:~it:itt:':fttl Page 34 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Results of Operation tmlltWfittl&::i:::))))))::i:i:)))::)))))))))))i:))):t:)))itttt=)):t:)))::)::)i:i:i:i:)itt))ittt:))))))))))itttlPi:))):t~.Q.\M)))))JI))=i.'9.p.~@t:)Htt:it:))iW:$.t:::i:itJt:l Page 35 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Results of Operation I$.mlifl>>~#lM))))))j/////:::))))))::)i/t:::))))))))))))):::::::::::::::::/:):/:::://///:))))j:)'/:))))):/:))i/:::t::1I/:tttt::m:t'tt))t:J!:))~4p.l:Mii@::Il!)))::):/~~))))tH Page 36 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (FX) WATER Changes in Fund Equity tiil.~J;m~_fffffffff::ff:t:ff::f::::::::::::fffff:::::t:ffffffffittt::::tttt:ffffffff::ff:::tt::t:::f::j:ff::fffff:::!I:t:ffffi~9.tffff:t:::Wf:J1ia.Ml@~:::fl!fffff::::~~:ff::fff::1 ANAL YSIS OF CHANGES IN FUND EQUITY o o o o o o Page 37 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Budget Summary ~i@.Wl$$.$.P.Mbfrrrrrfrrrrrrrr:r\\r\r::::::jrr:j:::::rir\:rll\:~f#.p.ill:mrmr:r:t::mi.jijM$~\\:lI:rr::M~_il~Q.f,l~rrrl!\r\n;:j!<<~f:~$}r:rilr:"'1\~iilijt~rj:jl Page 38 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Balance Sheet ~Wm.iM.i.1.:)::)))iItf))))))))))):)))))))::::::))))))))::::'"ttttt::::::t:::::))))))))))::::::)))tifttt::'::Idl:tt))tt$~tt:)tit\llt::fgt.~mftllft::tit:t~oo;,::tt:tt):l Page 39 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Balance Sheet ~&lWtm@am.@fift~(~::::::::}))fnt:::::::(~)):~):::?t:f:\\??:::::::t::::)::):::~mtt\\~f))):r~:::\~:~):~:~n:\\\:):t?:)~:t:::\~:\::t:t:?:)il!)):~))::):t'li$1.t?\:::)~~):?lI:?t#.llp.c.ij~:tfm:::\:)))):JIl>>~:\:::t:\\tr:1 Page 40 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Results of Operation ~&.li~qiil.~W:l.\\:l\\\\\\\\\\\\\\\\\\\\\\\\\\)\::"'l:\'l:t)\\\\\\tt1ll:""':\\\1l:\\\\':':\\\\\\:l:1'1'1'111l:\\\\@11W\\:}:\JI\iJ;~{lp.w..i.@i\::Wtlll'1l~00:4.:\\\::\:j Page 41 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Results of Operation ~m.linli':iiI.Mtlmt.9.Mttttt)tttt://~ttt\t~~~~/////::~//////////////////////:t~~ttt:t::ttt~:~rrrr:::tttttttllrrrt:::~~mw.:t~rrt}:tIMt::~i:l~m.littm/tt/:~Jilooz./~t~~t:~::~~~:l Page 42 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (G) SEWER Changes in Fund Equity ~<<littm~i$.ii@.f:{{:)::))))))))))):{{{{:::::)))))))))))))))t::)))))))):{::{{{:)))i{:))::):::{{{{:))))till))))):{~9.~)))))::)II:)J:Mw.::i.OOiit)lW{{{:::::::::~~~{rr:)))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 2002 Budget Summary IfJjMMOO!~mliWN/):??t?:::::::::::::::::::::)::::/:::::?:::::::///////)/////II:/~iJ.i~~im@:II:tt:tm.lir6.M$mJ::/lI@@:'J~~~f$~MI~)/)II:/)/J;\I({~t.~M//):I!:::::A~iiW.W~/:::1 Page 44 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (H) CAPITAL PROJECTS Balance Sheet l@ij~fP'#$.@_((:((:ti(t????:(t???:::::::(II(:??i(::::::((:????:II:\??:????????:(:?????\:((((:?:(:?????iHltm::?::::?:JW.1M':::(I:::?mrIMIt.~~~:@:I~???\?\~W@????:::::::1 Assets Cash In Time Deposits 2,885,007 H201 5,011 ,262 Cash Fiscal Agent 2,203,102 H223 529,328 Investments In Securities 174,278 H450 0 Accounts Receivable 721 H380 0 State & Federal Receivables 641,646 H410 531,737 Due From Other Funds 13,425 H391 13,425 Due From Other Governments 36,374 H440 0 Page 45 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (H) CAPITAL PROJECTS Balance Sheet Page 46 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (H) CAPITAL PROJECTS Results of Operation ~~itP.':$.@lW#.it:/fffff//f/f:t:/fitt:::::::::::::::::'::::ffffff/f/ff:tt:f:tt:::f::::::;:f/;:f:,',',:,:,:tt:ff/::':::f:t://it:::///fdtfff::flQ.Qt::':'::ff'tllfiJ;.\ilp.w.i~~:t::IlbfffI/iW4,:'://:'::;'IIl Detail Revenues And Other Sources Interest And Earnings H2401 99,138 :;;;~~H!~ 131,044 Fed Aid, Sewer Cap proj H2680 H2710 H2770 58,219 H3505 0 H3997 0 H4990 o Insurance Recoveries Interfund Transfers 105,000 H5031 59,625 Serial Bonds Statutory Installment Bonds Bond Anticipation Notes Bans Redeemed From Appropriations o o 2,476,671 373,000 )~ll:~i'~~::: H5710 H5720 H5730 H5731 Page 47 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (H) CAPITAL PROJECTS Results of Operation Transfers, Other Funds 455,837 H99019 457,999 Page 48 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (H) CAPITAL PROJECTS Changes in Fund Equity p.im.irmi~m.@ffffffffffffffff{f:tt::::I~ff::::ffff::~::tt:fmtttttttt:f:tt:ffffff:It~:~ff:::t:::::::f:tt~ffff{nl:tItttt~ij~fff:I~:::t:m::m:ij~~imiWflkt::t~:::~{::~~tff::f:tt~ ANALYSIS OF CHANGES IN FUND EQUITY Prior Period AdJ.- Increase In Fund Equity ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Page 49 3,234,435 -2,501,080 74,545 -2,426,535 3,771,652 3,564,143 -2,219,026 H8012 3,234,435 3,164,095 8,899,610 -2,501,080 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (K) NON-CURRENT GOV ASSETS Balance Sheet ~\fpji@.'lp(@tr:rr::':::':rfrf:r::::fff:::rrr:ff':ffff:rrrrr:fffffff::r':fffffffrfff::fffrr::f',':',':f::::::r:rrr:rfllr:rrrrr~Q~@rrfr@:rH:::t$.:fiG.~I;IMHlr:::::rrff~OO~rr:fr::'rl Assets Land Buildings Improvements Other Than Buildings Machinery & Equipment 6,549,550 K101 7,288,849 K102 2,892,058 K103 3,713,765 K104 6,549,550 7,421 ,156 2,924,927 3,787,032 Page 50 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (K) NON-CURRENT GOV ASSETS Balance Sheet ~~Mt$iii;miAAl#}:))))))))))))i/:)(()t~~f)fff~ff)))~@r~f~~)f:~~/::/~~~~~~:):::J/~)))i/Jt@~~~~~:t:/:/rt~~~~:~:)):/~~:~~)~m~:(::~/::::~~~~~~r~l>>.tJ~~t~(~~~:tf:ll):::JIiOO$~5~))m:::::::::::{@:ti~~~~:r:))::)))1 Liabilities And Fund Equity Total Non-Current Govt Assets K159 20,682,665 Page 51 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (PN) PERMANENT Balance Sheet Wi\fP#'~p'@it((:~:///////i(:~::::::://;(:////////////////:~/////////////;(://:@~:~////::::///:::::(((:/;J(:/ll:::////::::::?Q.qt()JJ~;~/;l!:~/tjWt.~i:l~f/lI://////~OO~:::::~:/f/;(j Assets Cash In Time Deposits PN201 83,623 Page 52 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (PN) PERMANENT Balance Sheet ~iiidlr~iAAiM~W\:))':j:::j\iffffffff))\i)\\:jj\)j::(j':fi$:fffff'()\\:'\($):ff::f\f\)f'(':('jjj:\\f\i)\\:::j:fjllfff\':fff~OOJf))f"':)\:ll:()$.@$~i;{~tf::Uff)fff'\~l>>~f'((\:'")('1 Liabilities And Fund Equity Unreserved Fund Balance Unappropriated PN911 83,623 Page 53 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (PN) PE~MANENT Results of Operation ~@ii:t~miM#.li?((((:i::/(:i/:i:i:?????i(?i((/:?????i(/:i:i:?????J:/:?f::fffffi:i:?ff:/(/:f?fi:fffi:ffi/ifi(}(Jbi:fffi/mlmf::fi:i:i:i:i(lIfiIi.'iilp.i>>j~t::fl!//((/J!iOO$.((:i:?ff1 Detail Revenues And Other Sources Interest And Earnings PN2401 12,582 Gifts And Donations PN2705 7,075 Page 54 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (PN) PERMANENT Results of Operation !G.@ifMij@lBrr:(((:rrrrrrrrrrrrrr:(((:rrrrrrrrrrrrtrrrrrrrtt:(ittttttttt::tr:(:rtttttt:((:II:t:(:::::::t::~:ti(I(itH(ij1i~l$.@it::J!:(((:tt:~:(:r:i((1 Detail Expenditures And Other Uses Other Culture And Ree, Cont Expend PN79894 16,000 Mise Home & Comm Serv, Cont Expend PN89894 6,082 Transfers, Other Funds PN99019 55,000 Page 55 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (PN) PERMANENT Changes in Fund Equity @i@iHmii.ifl.p,MW))!:)):t:!tt:)i@))!t))))!(=::::)))))):::::=:::::=!:!:!::::t:)))))=ttttt@)))))))))))))))))))):=:::::/m::JW::)!t:::!:):::OOQf':)))::::::)lItt!iiiit~Wlift:l[!:!!!:tt@)~OO:~:::):t:)::)::1 ANALYSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 19,657 77,082 -57,425 Page 56 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SL) LIGHTING Balance Sheet P.%W:P#'@rlP.t@t\\\\\\\\\\\\\\?:t\:~~:ti??\\\?\\\????::::I\\:t~\:t~\:~:ttt::~\:;:t::t:::\I::\\\\\\\\\\\\I\Wt::t:t::\:Jw.Qt:::t:tt:tJI~t~i(~C.~im::tllittt\:::i~~@~::t:t:::\:l Assets Cash In Time Deposits 9,271 SL201 9,910 Accounts Receivable o S L380 o Page 57 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SL) LIGHTING Balance Sheet ~~M;:ffl~QHP.#.OOfft?:f:(:/j://i/:f(////ffjt}:/f':::/:/(:ffitjj/:j:jtt:j:jj:jfj,j:/f((t(/:}:::mj::j,::j:j:::j:f/:j/::/f(:/?:ffffmf/j/\i)jt!OOir:(/://\\JI:\:m$.OO~~/:/lW:j\:ff:}t]1OO:4//j/:/j/\:::1 Liabilities And Fund Equity Accounts Payable 2,167 SL600 1,906 !!:.::::j::::%!:).:.,;jri SL911 6,829 Page 58 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SL) LIGHTING Results of Operation I$.MiJ$\~~lmtim}}}}}}}j(((::(((:j(:j:}}::::j:jI((:}i(((:}}}}}}}}}}}}}}}}{::::::{}}::{}{::j::(:::j:{{::j:}:(:::::::{{t}{iH(:t{}:(~lM{{}i((lIi((i{lp.$9.@(:j:m:}!((:{::::~OO~:!:!(:}!:}{l Detail Revenues And Other Sources Real Property Taxes 24,163 SL1001 24,263 Interest And Earnings 686 SL2401 384 I9!;.wf:iilil:8~~~~AA!Mi~:Pm~r~p9.rAAi ::::::::::::::::::::::;:::::::::::;:::;:::::;:;:::::::::::::::::::::::::::::::::.:::::::::::;:::::::::::::;:::::::::::::<:::::::>............. :!::::::!!:!g!m~:!:: . ...... . . . . . . . . . . . . . . . . . . . . ................... .................... . . . . . . . . . . . . . . . . . . . .................... rrr!!!~~l~~1 . . . .. ............ . . . . . . . . . . . . . . . . . . .. ............. ............................................................................. ............................................................................ .. ................... ................................................... Page 59 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SL) LIGHTING Results of Operation lG.m.liM1ijl.M*lR{:/(/:f{i:i////:{~::///(:{i(~:/~::::{{f{{::{{{{{{{{{ff::{{{~/////(/~f{ff{{{{{{{:(~{:((t~:jl/(~{{{:~Q.Q.l{~:~~{::{fll:ffe.i;JI$.m.lit:~:':'lt:::f:~{{:~:~{~:{:/::(~:1 Detail Expenditures And Other Uses Street Lighting, Contr Expend 23,502 SL51824 23,747 Page 60 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SL) LIGHTING Changes in Fund Equity ~i@@#.i$Wl.f~:rrJIIJ!HH)HHH))))))H)H))H))H)))))HHHHHHHHH:rriH)HH)HJHHHH)HiiHJ:JJ!::H:~HHH:IIHH::::::H:~:J~%::tr:HfHlIrr~i:lP:$i@M::::~m:~:~HH:rr~~~:H:t~:!!~:r~HI ANAL YSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 5,757 5,757 24,849 23,502 7,104 7,104 7,104 24,647 23,747 8,004 Page 61 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SM) MISCELLANEOUS Balance Sheet pmi~iQjMrlP.tilmi:):t:i:)itttttti:))))i/tt/:::):ttti:i:it:i:i:it:))::)))))i/ttt:)))))))i:)t))tit:it'i:i:)i:it:j=})))))}lI:i:)}::i:::j:jt:@I@t/:)i:))=W)~#P.C.~~rini'i:))t))~M$.:it:i:::)::{i! Assets Cash In Time Deposits Investments In Securities 45,216 SM201 41,982 o SM450 o Accounts Receivable o Page 62 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SM) MISCELLANEOUS Balance Sheet ~4.a~m).iJ~P&.ili):tt):f))):))))\{\f{{:t(t::::):))/:t)::::::::t::(::::::::tt(t:::{t:t::t:::::))::::\::)))))\::t)):::tt:):(:t)Jmtt(t:){:~l>>ttt(t)t)ll):tiAA$~~:)m:H{))::::))/:~!>>:~):tt:)))::::1 Liabilities And Fund Equity Unreserved Fund Balance Appropriated [9[~BYe!~r!~E!i~!~M~~:~B~~Reit,~~ Unreserved Fund Balance Unappropriated .................. ....,................................ .................... .................. ... ................. .............,..... ........................................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................................................ ...... ......................... ........................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................... . . . . . . . . . . . . .. .................. 1,700 ................................ ............,................... ............................................1....7..n...o.. ...................... . ~:~:~:~:~ :~:~:::~:~:~:~:::~:::::~:~:::~:::~:::., ~ :.:;.., ...... 43,519 SM910 3,000 ............................... ................. .............................................................. :::::/~;~P,~ 38,982 ................. ................. ................. ................. ................. ................................ .... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SM911 Page 63 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SM) MISCELLANEOUS Results of Operation l$.~ifl>>Mm&.tiif{i((((:i(((:::{{i::((:::::{{{it:i:i:i:{{i:{{{{{{{{{{:t::(((i{{i:{{::{{{{{{{{{{{{{{::::::{{::i:{{{::{iH(((::((@t:t{{it(tll{::::ia.i!1P.mi$ti:i:::H:{::{{i(:tOO$.(}((::(1 Detail Revenues And Other Sources Real Property Taxes 226,200 SM100l 226,200 Other Payments In Lieu of Taxes 37 SM1081 37 Interest And Earnings 4,769 SM2401 2,295 T~)it~~P#t!li:B9~~~N~~~r~.!@r~89f4,~:::::.::::.:::}:::::.:::i:::::J!'~M~::.::::m::M!~~ Page 64 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SM) MISCELLANEOUS Results of Operation Wi.j@ifOOl~M1W#.ii:t::::::::'ttttt{t{ttt{ttttt{t::{::tt:::t:t:t:tt::t:tt:t::t::tt::t::::t::::t,:::!,:,::tttt::{tttt::::!:t':::!:::tt:::t:::::IIJ:t::ttt~OOl:::Jt:::::t::II:::tJ~ijl$.j@iK:tHttt::::::::::!~oot:::JJ::::JJI Detail Expenditures And Other Uses Judgement And Claims, Contr Expend 224 SM19304 25 Ambulance, Contr Expend 231,700 SM45404 231,744 Page 65 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SM) MISCELLANEOUS Changes in Fund Equity p.<<l~f@l@flmffff??fffffff::i:::f:tt~f:~i:i:?f::f::~:fff~:f:::t:fitif)fffi:f)f:t~)):tifi:f)::fi::::::::ttttt:::i:fffff?itll:ttttttWlUt{:it:i:f::::IWit!#Rt\&llilliMHt:::::i::t:f~$.tti)::i:::i:)1 ANALYSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Page 66 46,137 46,137 231,006 231,924 45,219 45,219 45,219 228,532 231,769 41,982 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SS) SEWER Balance Sheet I9.iWMtM~iMio:IIIit:I~((:IIIIIIIIIIItIi(~:~:((~:~:~:((~::~:(::(((((:I~:~~:~:(~II:((((:IItIItIItIIIIIIIIttttll=tIt::t::I~~(t(:::tIHIIiijml.p.~mfIII~~~tII:~:~I::U~it{I{{~:::~l Assets Cash In Time Deposits 1 ,644,910 SS201 1,381.239 Investments In Securities 156,151 SS450 0 Sewer Rents Receivable 346,113 SS360 400,087 Accounts Receivable 2,118 SS380 0 Due From Other Funds 2,525 SS391 65,782 Page 67 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (88) SEWER Balance 8heet ~i@.it:lM.~#i.P.miif:~)rr))):)~)):t(t:r:::::(::::~::rI:t~:rr)~::r):::)::(:~:~~::):(::::~:::~::::))m(~:t((~i~))r)~r(~:tr~))))):::::(~::::)~(::)::llt):(:))i(~OOl~::~~:~:~:::::~:(:rmll:(('AAWii(:)W}:(:))r::@l:l~lW)):t(t::~:q Liabilities And Fund Equity Accounts Payable 88600 12,720 ffip!~YYni~~r:m~Fail~M~.t~ijijr:gijn~~M Unreserved Fund Balance Unappropriated ................................. ................................ . ........ ......... "' 693,174 .......................................................................... .......................................... . <:::::;:::~"~i1ti~;:;:;:::j~~i9~! 1 ,348,118 88911 1,592,506 ..... ............... . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . ................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................. ................................ Page 68 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (58) 8EWER Results of Operation I$.li.lWl1ilMtlP.ml~)))))))))))))))~~~?t?)):?~~:~~tt?i)))))))~?::t?t:::)::))))):::~~~):~)))i?:)))):?~)))))))t):W~:::?~t~~)~~t))ttJI~?t!~p.mi$.tijl~):t::::t::%!1>>$.t::~))J:d Detail Revenues And Other Sources Real Property Taxes 1 ,282,247 881001 2,048,896 8ewer Rents 1,040,811 882120 1 ,143,975 Interest & Penalties On 8ewer Accts 14,565 882128 14,366 Water 8ervice Charges 1,175 882144 575 Interest And Earnings 440,791 882401 503,060 Refunds of Prior Year's Expenditures 882701 59 Interfund Transfers 343,837 885031 349,201 ..."",..............................................,......"......., ...... !9t.@P~i.!~~y~ij#~~::lW~:~b~r~9Yr@i .......--............ . . . . . . . . . . . . . . . . . . . . . ...................... . . . . . . . . . . . . . . . . . . . . . ...................... . . . . . . . . . . . . . . . . . . . . . ...................... . . . . . . . . . . . . . . . . . . . . . ........................................... ...................... ..................... . .................,.... . .. .......................... ..... . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................................... .................................................................... ...........................................................................................................'.............'...........', . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............................. .................................... ~M~M~~..~ .......................... .. ....-.............. . . . . . . . . . . . , . . . . . . . . . . . . . . . ................................. ................................ ................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................. ............................... .............................. . . . . . . . . . . . . . . - - - . . . . . . . . . ~:!i@~a!~~ Page 69 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SS) SEWER Results of Operation ~Wiiiq&.li.~f:ip@l.k:\:::f':::r:::\::::::::\::\:'\:::':,\::\:ff:1:\\:::\::::::::::((f'\:::(f:::::\::\:'\:::'::\\\\\\\\\\\:::::::\\:f:::\\\I\\\\ifJI:"':\\\i@OOliff'!:\::::W:I':~ijP.t.WiiiIIlI\Iif:li~Plm:::fftf:J Detail Expenditures And Other Uses Judgements And Claims, Contr Expend 914 SS19304 3,010 Sewer Administration, Pers Serv Sewer Administration, Contr Expend Social Security, Empl Bnfts Other Employee Benefits (spec) 1,141 SS90308 o SS90898 1,165 o Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 1 ,000,525 SS97106 258,000 SS97306 1,547,101 695,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 843,252 SS97107 44,790 SS97307 997,504 134,873 Page 70 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (55) SEWER Changes in Fund Equity ~Mit@i~MW.W:tt:::r::::::::::rrrrt::r:tttrr::::rrrr:t::::::::ttt:::r::::rrtrtrrr':::rrrr::::::::trt:::::t:t:tttt:tmtt/tt/tttmw::ttrr:t@Q.frrrrrrwrJ$~~i~/rHrrrr:::::t~l:iQ~::::t:::rtmil ANALYSIS OF CHANGES IN FUND EQUITY Prior Period Adj-Increase To Fund Equity 558012 2,041,292 89 2,041,381 4,060,132 4,405,988 1,695,525 2,044,874 ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 2,044,874 3,123,426 3,127,008 2,041,292 Page 71 OSC Municipality Code 130386800000 (88) 8EWER TOWN OF Wappinger Annual Update Document . For the Fiscal Year Ending 2002 Budget 8ummary ~<<litlM@rlM.Wl:::(:r::::rrrr:((:::rrrrrrrrr::rr:(:::rrr::::::::::r::::II(:t$#.C.{i~:@llr::rQ~lJtI~t~i@t::tll:rr]~~iilr.Ji.it~~rrrll(t(J;jiff.~i~~W::r:::Jlr(AiilAA\$f>>!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 - Sale of Prop And Comp For Loss Est Rev-Miscellaneous Local 80urces Est Rev - Interfund Revenues Est Rev - 8tate Aid Est Rev - Federal Aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . T(:!ttilESllffiaMdRevenuQ ................................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . ................'............................................... ...... ........................ ......... . n. .... . .................................................. ............................................,..... ........................................... . ......................................... Estimated - Interfund Transfer Appropriated Reserve Obligations Authorized Estimated Proceeds of Obligations Appropriated Fund Balance ~~II[~I;I~III~1~~i'II~:~~~1 885031 B 88511 B 88530B 885799B 0 88599B 693,174 ::;::::::::::::::::::: 1 . .................... ::::.::!.}.::::!::!:!~I[~~~ 881049B 881099B 881299B 852399B 882499B 882699B 852799B 882801 B 883099B 884099B . . . . . . . . . . . . . . . . . ................. ................. 2,048,896 o 1,061,019 o 506,225 o o o o o i:MI1~nAAi 100,000 o 2,048,896 o 1,286,719 o 515,570 o o o o o ................................... ................................... i~i~~~i~i~i~i~i~i~i~f~i~i~i~~$$.1~~1l~i~:::: ..... 100,000 o o o 694,744 .!.U!i~~$H ::::...:..:::1ie~i!t! ......... ... o o 225,700 o 9,345 o o o o o .,'.......'.','.'.',','....,..........................'.' ...........................2..~.. 6" ."0"4" 6". ......'.'.................. .... ::::::::)::::::::::::::::::.;.:.:::.:f...;.......: o o o o 1,570 :::::M~f~ n~~;Mt 2,002,942 o 1,212,069 o 580,975 o o o o o ........,..,.........,.........,. ................................ ..........................3. ....7.. 95.... ."9".8" 6.. ... ............. . .. . ............. .... . ~:~:::::~:~:~: ::~: ::~ :~:~:~.:.:~:.:::.:::.:.J:.:::.::;.: .::~ 40,000 o o o 103,019 ...-.....-.............'........ .................143...........0...1..9..... ......... .. . ji::::iijij~~~~;g~" Page 72 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (88) 8EWER Budget 8ummary Pm.lW~@jjl_))):/:){)))i//::::/:)))))))iHHH:):H:))))II:::::l*-i.!t.~:HWHH:Q4mrlW~Qt.H:)lIH:::):M~l:lflWlt~Q.Q.~:HHil!:)))::i).Il'f~i~it))):I!):A~\ffii~~ir~):::1 Appropriations And Other Uses App - General Government 8upport App - Home And Community 8ervices App-Employee Benefits App - Debt 8ervice 881999B 888999B 889199B 889899B o 1,082,615 1,217 3,325,482 9,365 1,260,850 1,217 3,374,497 -9,365 -178,235 o -49,015 o 1 ,292,458 1,270 2,645,277 Budgetary Provision For Other Uses App - Interfund Transfer 88962B 889999B o o o o o o Page 73 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SW) WATER Balance Sheet 9Mpj,MrlPWiiI:rrrr:::III::::::::I:::rr::rrrIIrr:III:rrrrriI:::::::rr/rrr//rrrrrrr::/:::IIII:::::////:::I:/rrr::/rjnrrrr:I:?OOt:III:rr:lliIli'.ijiG.~@@::WI:::rrrr~~~triIr::d Assets Cash In Time Deposits 198,823 SW201 272,113 Investments In Securities 10,647 SW450 0 Water Rents Receivable 208,817 SW350 193,859 Accounts Receivable 21 SW380 0 Due From Other Funds 400 SW391 1,543 Page 74 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SW) WATER Balance Sheet ~Q.Qif~i@1iMID.}}}:}::::::::}:::::::::::::::::::}:::::::)::)J?t/}/t/t}}}::}iJt:::::t:::}}):::}::}}::::}}}::::/::::m:/\::\}\/t}::::}\}/}til~:t:??:}}:m::~m'iJ:::::t::t})?HI:}}'S@$~l;Wt::::m:}})tt:m::~~?::t/\\::mJ Liabilities And Fund Equity Accounts Payable 12,430 SW600 21,876 ...........:...:.:.:.:::::::::::::::::::::::::::::::::::::::::::::::::::::;:::::::;:::::::::::;:::::;:::::::::::;:;:::: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . ... ....................,... . ............. . 14,501 m,=w~n?:: 368,320 SW911 ............ ............. ........................... ........................... . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................... . . . . . . . . . . . . . . . . . . . . . . .................. ................. t~~~~~ 342,301 m9fAijYri~~fm~f:mi;I,~~A#:~fflijp6~pn~~#~ Unreserved Fund Balance Unappropriated ................................ .......................... .. ................... .. Page 75 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SW) WATER Results of Operation IGlmifWiMmMiif)}j:j:})}j:j(L.' H' j)}jj:j:j:j'j:'(((((::::'::j::::::'::::)':))}}))))}}}}}):::((('):(((((((::)":'))}}:(:::::):lb))))':lP.l1W:(::::::::(I11):I!;tP.P.i$'}}II::(I:j'))]~9.lit.~(:)}jI:)l Detail Revenues And Other Sources Real Property Taxes Sales of Equipment 238,159 SW1001 431,541 555,199 SW2140 516,377 62,829 SW2142 89,842 1,825 SW2144 1,050 8,082 SW2148 8,117 18,762 SW2401 14,509 1,600 SW2665 3,475 12 SW2701 83 Metered Water Sales Unmetered Water Sales Water Service Charges Interest & Penalties On Water Rents Interest And Earnings Refunds of Prior Year's Expenditures Interfund Transfers 75,000 SW5031 70,000 ..... ........... . . . . , . . . . . . . . . . . . . . . . . . . ...................... ....................... ................... .. .................................. ................................,. .................................. .................................. .................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . [t~rrr~ij1~imr? . . .. ........ . . . . . . . . . . . . . . . . . , . . ................... . . . . . . . . . . . . . .. . \:::::';1~fl~M TofAtD~iiuMkimiiAridbOOirs.6Gffi~i\t .......................~..............._..................................................... ....................... ..................................................................... . ......... ....................................... .............................................. ....................... ...................... . ....................... . . . . . . . - . . . . . . . . . . . . . . . ....................... ..............-............................... ....................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. . .. ............ ....................... . . . . . . . . . . . . . . . . . . . . . . ..................... Page 76 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SW) WATER 103 SW19304 543 Water Administration, Pers Serv Water Administration, Contr Expend 28,196 SW83101 22,452 SW83104 28,829 23,983 Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts SW90308 SW90408 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 183,350 SW97106 20,000 SW97306 193,682 133,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 76,914 SW97107 23,450 SW97307 52,556 80,512 Page 77 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SW) WATER Changes in Fund Equity ~m.l.M~$i$.W.mf)))):(:)))))))::::)::::):::::(:)))))))))))))))))))))))))))))::::::)):(:))))))))))))::)t)HI::):((:):(~Qt)))i((:II((liii:li@~if(:H::::::)):(:::::~~~(:))i((:1 ANALYSIS OF CHANGES IN FUND EQUITY Prior Period Adj - Decrease In Fund Equity SW8015 382,821 89 382,732 1,134,994 1,103,100 414,626 329,820 ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES 329,820 961,468 908,467 382,821 Page 78 OSC Municipality Code 130386800000 (SW) WATER TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 Budget Summary ~<<lit@iMf:lM@));t;;t;t;:);:});:;:):;:;:::)):t:)t));tttt:)))iqri~$~C.~iifim)}@ls.tl~U~QQ%:;:;t:lIt:;:)M~~it~l>>.~::))m:}ltjMt~t:~&.iii:)::::t:::lt::;:;A~imOO:r~l@rn 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 - Sale of Prop And Comp For Loss Est Rev-Miscellaneous Local Sources Est Rev - Interfund Revenues Est Rev - State Aid Est Rev - Federal Aid 431,541 o 584,402 o 11,500 300 o o o o ........................................ ,....,................................. ::::~t,~!tf:7R) 70,000 o o o 14,501 ....................... i::::;M~~~l:: ................................. ............................ :::::::2:::1iM~~@if SW1049B SW1099B SW1299B SW2399B SW2499B SW2699B SW2799B SW2801B SW3099B SW4099B T6fAUE~tijffiiti~&~v~f@W:>::::: Estimated - Interfund Transfer SW5031 B Appropriated Reserve SW511 B Obligations Authorized SW530B Estimated Proceeds of Obligations SW5799B Appropriated Fund Balance SW599B ..._---.-.-.-....-----..-.---_......................................----..-----.--.....--....., mBJ~~~~~i~(#.~~~r~g~r~~#.): t9tA4;*~m#.!t~~ij,~iffl~ij~iM~9t.Mf~~@@iM Page 79 431,541 0 559,875 000 584,402 0 567,751 000 11,725 225 8,620 600 300 300 000 000 000 000 ......................................... .......................... ................................ Uj;ij~i;~ij~:: ..:::::;~~~:::::Ij~~~~;M~: 70,000 0 48,610 000 000 000 22,627 8,126 72,325 ....................... ........-........................ ............................ :::::.::::::~~i~r..... :;::::::::jdi~\:::L:::~*~;~~~: ....... .I:';1~~;~~~I:;::!;~~1 I;:::::A!!t;'~!1: OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (SW) WATER Budget Summary ~<<lMlM@ilmffffIffff://ffff::::::::ff?::::::::?::?i///:::::::::fjl/:i;~t.i$fHlf:/:t.WiilmM~p;~t::flW://M.~.~t@OO:/:::fl!:ffIJ~ltOO'M:@.~tf::::f:llf:A~\ji#.IW::~l@::WI Appropriations And Other Uses App - General Government Support App - Home And Community Services App-Employee Benefits App - Debt Service SW1999B SW8999B SW9199B SW9899B o 649,574 2,945 459,725 651 657,474 2,945 459,825 -651 -7,900 o -100 o 667,886 3,420 586,175 Budgetary Provision For Other Uses App - Interfund Transfer SW962B SW9999B o o o o o o o o Page 80 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (TA) AGENCY Balance Sheet ~ifl*iAAlp.tim.t\//\/::\\\\/\/\/\\\\\/\\\\\\\\))::~~:~\:r~:r~):~))))::\::)::::)i?)\:rr::rr:\\\\:r~:~::))))ir?)ll}r:\:~:r:)~t'ir~:~):~)illiir~gp.~i3I:~m:::~:~:r::r:)~ml~:~~))::))J Assets Time Deposits 140,961 TA201 348,892 Accrued Interest Receivable o TA381 o Due From Other Funds 347 T A391 347 Page 81 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (TA) AGENCY Balance Sheet ~9.aW~@#W:l~\itii~iii~i~ri~i~iii:i~iii~i~itrtr(:?~::~)@mtti:~i:~::iii/itii~it~~:~:::::@:(ii:ittt:):~i:ir:i:iim((t(:@@@i(~:~mi~:::)t)ti~~((ii~))?:(t::~i:i(Hir::~::::i::i:::::(:Ml>>%t)::?i((:illm(:i'OOiMi~t)iiW'i:i(t:)@/i~M!i(t::tti/iiim Liabilities And Fund Equity Due To Other Funds 23,724 TA630 10,432 Assoc & Union Dues Guaranty & Bid Deposits Bail Deposits other Funds (specify) 37 313,625 565 23,366 Page 82 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (V) DEBT SERVICE Balance Sheet /mi.ijlfpj~immMii.::::::'::)::i:}):t,::::))},:))))):::::t{t))):t:::)))::::):{t:t):{{t:::::::::::t:t{:::))::))t:::,:::{{{{:::)::)::{))))t):)I@)))))::$!M{t{:::::::)::m::?~~#.p.p.ii!~j::)II:))):{:::::::~[Q$.{t{t{{1 Assets Cash With Fiscal Agent V223 Investments In Securities V450 Page 83 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (V) DEBT SERVICE Balance Sheet Liabilities And Fund Equity Accounts Payable V600 Page 84 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (V) DEBT SERVICE Results of Operation l@ii#.ifWMf:1Wi#.i\\\n\\\\j(:j=\j//:\::\\:///:\:=\\j(:\\\n\n\::j/:n\::j:j:::\\\::::n\\\::j:\j:==\j:\=:j:n\\\m//::::/:\\::j/=:/(/ltj:\m/:\@f:t\\\j//lI\j/!Wml.~lii:j:::\ltj//:j/:\~1im~:j:j///((1 Detail Revenues And Other Sources Premium & Accrued Interest On Obligations 13,101 V271 0 Advanced Refunding Bonds 3,270,000 V5791 Page 85 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (V) DEBT SERVICE Results of Operation lt~ifMl.Mijmrrr::tffffi/:f:::/:ffrfi:~:~:::tfffi:i:fff:/::~ff:::(:i~f::::ffri;i:i::(;ffi((((ifrf::r:(:r:(:rfi:ff:(;ffft::i(;i:lI(;tti;trmmtrfi((:/H(:fJ;;9Mi.~ifi;fW(;rrfti~$W:r:(:i:r:(~:l Detail Expenditures And Other Uses Fiscal Agents Fees, Contr Expend V13804 Repayments To Esc Agent Adv Ref Bonds 3,283,101 V99914 Page 86 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (V) DEBT SERVICE Changes in Fund Equity &.lMitiM$l$M.@if)){{{)::{{{){){){j:{j\\:{))){)j:j:::{j:j:{j:{{:~){){::)){j~){{j\i{j\\::tt:{j:){)j:{{{{:tt~)){ittll{)))j:)i@l;W{{))j:::{lW):~4imWiW)lM:jtt\ttm~~tt:{))j:::1 ANALYSIS OF CHANGES IN FUND EQUITY ADD - REVENUES AND OTHER SOURCES DEDUCT.- EXPENDITURES AND OTHER USES Page 87 o 3,283,101 3,283,101 o o o o OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 (W) NON-CURRENT GOV LIABILITY Balance Sheet w.mM~MrlM.$lri:i:)i:i:})//)/i/:/it:i:i:i:::i:::i:i:i:=:/it:i:i=i://itt:/:t:)//itt:/i:itt::t:)/i:/i:it:/i:i=//}::i:///)i=/::i:i://i:it:i:///it:i:::ll/t:)i/=i:)Mgtti:)::::it/:=lIti:lllli@i.l~im:}:i:))/:J!lOOt.:i:)t::::t=:J Assets Total Non-Current Govt Liabilities W129 26,989,852 Page 88 OSC Municipality Code 130386800000 TOWN OF Wappinger Annual Update Document For the Fiscal Year Ending 2002 ryv) NON-CURRENT GOV LIABILITY Balance Sheet ~j@KlMM#wM.ft/i?(~t:rr:\:~:~:::~:::((:::r\:r:t:::::::\::::\::r:::::r::::::::(::r(:::::\:(:ri(((ii:i:tr:::r(~i:r:t?((~:~::i:::::r::/rtr::r\:ir~:r:(II/\/:(:r~::t!Wjt)(:::::r\:(lIrrimmlMiU(im::::::ri:iti:~~:i)::~1i>>~f:r/i)~i:\:ii:::l Liabilities And Fund Equity Bond Anticipation Notes Payable 7,725,580 W626 0 Judgments And Ciaims Payable Compensated Absences Bonds Payable 18,979,000 W628 26,680,556 Page 89 OSC Municipality Code 130386800000 TOWN OF Wappinger Financial Comments For the Fiscal Year Ending 2002 (B) GENERAL TOWN-OUTSIDE VG Adiustment Reason Account Code B8012 TO CORRECT PRIOR PERIOD ADJUSTMENT 2001 -$347. (DB) HIGHWAY-PART-TOWN Adiustment Reason Account Code DB801 E TO ADJUST PRIOR YEAR SOCIAL SECURITY - $156. Account Code DB8012 TO ADJUST PRIOR YEAR EXPENSE - SOC. SEC. - $156. (SS) SEWER Adiustment Reason Account Code SS8012 TO ADJUST PRIOR YEAR INTEREST & EARNING POSTING _ $89. (SW) WATER Adiustment Reason Account Code SW801: TO ADJUST POSTING ERROR PRIOR YR. - INTEREST EARNED - $89.00 (H) CAPITAL PROJECTS Adiustment Reason Account Code H8012 PRIOR PERIOD ADJUST NYSEFC DEBT SVC. RECEIVABLE Page 90 OSC Municipality Code 13038f TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2001000004 EDPCODE Amoun Month and Year of Issue 3/1/2001 Purpose of Issue Sewel Current Interest Rate .0000 Outstanding Beginning of Year 2P18661 2,476,671 Issued During the Fiscal Year (do not include renewals here) ~P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 2,476,671 Outstanding End of the Fiscal Year 2P18667 0 Final Maturity Date 3/1/2003 Bond Anticipation Note No. 2000000003 EDPCODE Amoun Month and Year of Issue 12/21/1999 Purpose of Issue 3HWA Y EQUIPMENT Current Interest Rate 4.2300 Outstanding Beginning of Year 12P18661 420,000 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 124,000 Outstanding End of the Fiscal Year 2P18667 296,000 Final Maturity Date 12/21/2001 Bond Anticipation Note No. 2002000002 EDPCODE Amoun Month and Year of Issue 5/2/2002 Purpose of Issue Wate Current Interest Rate 2.5000 Outstanding Beginning of Year 2P18661 Issued During the Fiscal Year (do not include renewals here) 2P18663 3,250,000 Paid During the Fiscal Year (do not include renewals here) 2P18665 Outstanding End of the Fiscal Year I2P18667 3,250,OOC Final Maturity Date 5/2/200~ Bond Anticipation Note No. 2002000001 EDPCODE Amoun Month and Year of Issue 12/18/200~ Purpose of Issue Wate Current Interest Rate 1 .1000 Outstanding Beginning of Year :>P18661 Issued During the Fiscal Year (do not include renewals here) 2P18663 205,000 Paid During the Fiscal Year (do not include renewals here) !2P18665 Outstanding End of the Fiscal Year 2P18667 205,000 Final Maturity Date 12/18/2003 Page 91 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 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 1.8900 Outstanding Beginning of Year :>P18661 Issued During the Fiscal Year (do not include renewals here) j2P18663 250,000 Paid During the Fiscal Year (do not include renewals here) 2P18665 50,000 Outstanding End of the Fiscal Year 2P18667 200,000 Final Maturity Date 12/20/2002 Bond Anticipation Note No. 2000000030 EDPCODE Amoun Month and Year of Issue 10/26/2000 Purpose of Issue Sewer - EFC Current Interest Rate .0000 Outstanding Beginning of Year 2P18661 2,680,454 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 2,680,454 Outstanding End of the Fiscal Year 2P18667 0 Final Maturity Date 10/26/2003 Bond Anticipation Note No. 2000000029 EDPCODE Amoun Month and Year of Issue 9/1/2000 Purpose of Issue Sewer - EFC Current Interest Rate .0000 Outstanding Beginning of Year 12P18661 2,568,455 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) 2P18665 2,568,455 Outstanding End of the Fiscal Year :>P18667 0 Final Maturity Date 9/1/2003 Bond Anticipation Note No. 2001000009 EDPCODE Amount Month and Year of Issue 7/6/2001 Purpose of Issue water Current Interest Rate 2.8300 Outstanding Beginning of Year 2P18661 160,000 Issued During the Fiscal Year (do not include renewals here) 2P18663 0 Paid During the Fiscal Year (do not include renewals here) ?P18665 13,000 Outstanding End of the Fiscal Year 2P18667 147,000 Final Maturity Date 7/5/2002 Page 92 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2001000001 EDPCODE Amoun Month and Year of Issue 3/6/2001 Purpose of Issue Sewe Current Interest Rate 3.5900 Outstanding Beginning of Year ?P18661 2,566,420 Issued During the Fiscal Year (do not include renewals here) I2P18663 0 Paid During the Fiscal Year (do not include renewals here) I2P18665 1,610,976 Outstanding End of the Fiscal Year I2P18667 955,444 Final Maturity Date 3/5/200..: Bond Anticipation Note No. 2001000003 EDPCODE Amoun Month and Year of Issue 7/30/2001 Purpose of Issue Sewe Current Interest Rate 2.850C Outstanding Beginning of Year '-P18661 500,OOe Issued During the Fiscal Year (do not include renewals here) I2p18663 0 Paid During the Fiscal Year (do not include renewals here) I2P18665 500,00C Outstanding End of the Fiscal Year I2p18667 0 Final Maturity Date 4/30/2002 Bond Anticipation Note No. 2000000001 EDPCODE Amoun Month and Year of Issue 7/9/1998 Purpose of Issue NA TER AND SEWEF Current Interest Rate 4.690C Outstanding Beginning of Year ?P18661 1,525,OOC Issued During the Fiscal Year (do not include renewals here) ?P18663 e Paid During the Fiscal Year (do not include renewals here) ?P18665 825,000 Outstanding End of the Fiscal Year ?P18667 700,000 Final Maturity Date 7/6/2001 Page 93 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Water and Other Purposes Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2001000002 EDPCODE Amoun Month and Year of Issue 5/3/2001 Purpose of Issue Water Current Interest Rate 3.1200 Outstanding Beginning of Year 2P18661 2,000,000 Issued During the Fiscal Year (do not include renewals here) :>P18663 0 Paid During the Fiscal Year (do not include renewals here) :>p18665 100,000 Outstanding End of the Fiscal Year :>P18667 1,900,000 Final Maturity Date 5/2/2002 Total Bond Anticipation Note Amoun Outstanding Beginning of Year 14,897,000 Issued During Fiscal Year 3,705,000 Paid During Fiscal Year 10,948,556 Outstanding End of Year 7,653,444 ** Bond Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year 2P18885 9,836,556 Page 94 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Water and Other Purposes Exempt From Constitutional Debt Limit 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 !2P18671 2,400 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 1,200 Final Maturity Date 11/15/2003 Bond No. 2001000005 EDPCODE Amoun Month and Year of Issue 10/2/2001 Purpose of Issue Sewer Current Interest Rate 3.7220 Outstanding Beginning of Year ?P18671 452,732 Issued During the Fiscal Year (do not include renewals here) I2P18673 0 Paid During the Fiscal Year (do not include renewals here) I2P18675 49,332 Outstanding End of the Fiscal Year I2P18677 403,400 Final Maturity Date 8/15/2011 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 450,000 Issued During the Fiscal Year (do not include renewals here) 'P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 20,000 Outstanding End of the Fiscal Year 'P18677 430,000 Final Maturity Date 10/1/2018 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 !2P18671 36,600 Issued During the Fiscal Year (do not include renewals here) 12P18673 0 Paid During the Fiscal Year (do not include renewals here) 2P18675 9,150 Outstanding End of the Fiscal Year 2P18677 27,450 Final Maturity Date 6/1/2005 Page 95 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 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 ?P18671 297,000 Issued During the Fiscal Year (do not include renewals here) I2P18673 0 Paid During the Fiscal Year (do not include renewals here) I2p18675 98,000 Outstanding End of the Fiscal Year 12P18677 199,000 Final Maturity Date 5/1/2004 Bond No. 2000000008 EDPCODE Amoun Month and Year of Issue 5/1/1977 Purpose of Issue SEWER Current Interest Rate 5.375C Outstanding Beginning of Year ?P18671 294,00C Issued During the Fiscal Year (do not include renewals here) 12P18673 0 Paid During the Fiscal Year (do not include renewals here) 12p18675 98,000 Outstanding End of the Fiscal Year I2p18677 196,000 Final Maturity Date 5/1 /200~ 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 ?P18671 42,000 Issued During the Fiscal Year (do not include renewals here) ?P18673 C Paid During the Fiscal Year (do not include renewals here) ?P18675 14,000 Outstanding End of the Fiscal Year 'P18677 28,000 Final Maturity Date 5/1/2004 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 12P18671 39,000 Issued During the Fiscal Year (do not include renewals here) 12P18673 0 Paid During the Fiscal Year (do not include renewals here) I?P18675 19,500 Outstanding End of the Fiscal Year I?P18677 19,500 Final Maturity Date 3/1/2003 Page 96 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Water and Other Purposes Exempt From Constitutional Debt Limit Bond No. 2000000005 EDPCODE Amoun Month and Year of Issue 3/1/1974 Purpose of Issue WA TER Current Interest Rate 5.8000 Outstanding Beginning of Year 2P18671 32,000 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 2P18677 16,000 Final Maturity Date 3/1/2003 !rotal Bond Amoun Outstanding Beginning of Year 1,645,732 Issued During Fiscal Year C Paid During Fiscal Year 325,182 Outstanding End of Year 1,320,550 01 Page 97 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000017 EDPCODE Amoun Month and Year of Issue 12/1/1985 Purpose of Issue TOWN HAL Current Interest Rate 7.7500 Outstanding Beginning of Year :>P18771 173,700 Issued During the Fiscal Year (do not include renewals here) :>P18773 0 Paid During the Fiscal Year (do not include renewals here) I2P18775 43,425 Outstanding End of the Fiscal Year I2P18777 130,275 Final Maturity Date 6/1/2005 Bond No. 2000000016 EDPCODE Amoun Month and Year of Issue 12/1/1985 Purpose of Issue SEWER Current Interest Rate 7.7500 Outstanding Beginning of Year 2P18771 89,700 Issued During the Fiscal Year (do not include renewals here) :>P18773 0 Paid During the Fiscal Year (do not include renewals here) :>P18775 22,425 Outstanding End of the Fiscal Year :>p18777 67,275 Final Maturity Date 6/1/2005 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 12P18771 42,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) :>P18775 15,000 Outstanding End of the Fiscal Year :>P18777 27,000 Final Maturity Date 5/1/2004 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 I2p18771 29,000 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 14,500 Final Maturity Date 3/1/2003 Page 98 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 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 2P18771 3,600 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 1,800 Final Maturity Date 11/15/2003 Bond No. 2001000008 EDPCODE Amoun Month and Year of Issue 10/2/2001 Purpose of Issue ner. Services Building Current Interest Rate 4.0023 Outstanding Beginning of Year 2P18771 1,275,000 Issued During the Fiscal Year (do not include renewals here) :>P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 80,000 Outstanding End of the Fiscal Year !2P18777 1,195,000 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 1,253,392 Issued During the Fiscal Year (do not include renewals here) 2P18773 a Paid During the Fiscal Year (do not include renewals here) 2P18775 134,092 Outstanding End of the Fiscal Year 2P18777 1,119,300 Final Maturity Date 8/15/2011 Bond No. 2001000006 EDPCODE Amoun Month and Year of Issue 10/2/2001 Purpose of Issue Sewer Current Interest Rate 3.7220 Outstanding Beginning of Year :>P18771 288,876 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) :>P18775 31,576 Outstanding End of the Fiscal Year 2P18777 257,300 Final Maturity Date 8/15/2011 Page 99 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000018 EDPCODE Amoun Month and Year of Issue 5/1/1987 Purpose of Issue R/Highway machinery Current Interest Rate 6.3000 Outstanding Beginning of Year 2P18771 35,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 35,000 Outstanding End of the Fiscal Year 2P18777 0 Final Maturity Date 5/1/2002 Bond No. 2002000004 EDPCODE Amoun Month and Year of Issue 3/14/200~ Purpose of Issue Sewe Current Interest Rate 4.49837 Outstanding Beginning of Year 2P18771 Issued During the Fiscal Year (do not include renewals here) 2P18773 9,836,556 Paid During the Fiscal Year (do not include renewals here) 2P18775 515,000 Outstanding End of the Fiscal Year 2P18777 9,321,556 Final Maturity Date 4/15/2021 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 2P18771 2,025,000 Issued During the Fiscal Year (do not include renewals here) ?P18773 0 Paid During the Fiscal Year (do not include renewals here) 2P18775 65,000 Outstanding End of the Fiscal Year 2P18777 1,960,000 Final Maturity Date 10/1/2020 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 128,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year (do not include renewals here) ?P18775 32,000 Outstanding End of the Fiscal Year ?P18777 96,000 Final Maturity Date 5/5/2005 Page 100 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Indebtedness Not Exempt From Constitutional Debt Limit 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 2P18771 1,970,000 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 !2P18777 1,850,000 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 6,225,000 Issued During the Fiscal Year (do not include renewals here) 12P18773 0 Paid During the Fiscal Year (do not include renewals here) !2P18775 380,000 Outstanding End of the Fiscal Year !2P18777 5,845,000 Final Maturity Date 5/1/201 ~ Page 101 OSC Municipality Code 130386800000 TOWN OF Wappinger Statement of Indebtedness For the Fiscal Year Ending 2002 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000021 EDPCODE Amoun Month and Year of Issue 11/12/1992 Purpose of Issue SEWER Current Interest Rate 3.0000 Outstanding Beginning of Year ?P18771 3,795,000 Issued During the Fiscal Year (do not include renewals here) I2P18773 0 Paid During the Fiscal Year (do not include renewals here) I2p18775 320,000 Outstanding End of the Fiscal Year ~P18777 3,475,000 Final Maturity Date 9/1/2014 :;:O-otal Bond Amoun Outstanding Beginning of Year 17,333,268 Issued During Fiscal Year 9,836,556 Paid During Fiscal Year 1,809,818 Outstanding End of Year 25,360,006 01 *************************************************************************************************************************************** *************************************************************************************************************************************** Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond Amoun Outstanding Beginning of Year 33,876,000 Issued During Fiscal Year 13,541,556 Paid During Fiscal Year 13,083,556 Outstanding End of Year 34,334,000 Page 102 OSC Municipality Code 130386800000 TOWN OF Wappinger Maturity Schedule For the Fiscal Year Ending 2002 For Bonds Issued During The Fiscal Year Ended 2002 EDPCODE Indebtedness No. ?002000004 Purpose of Issue Sewer For State Comptroller Use Only I2P3CE rrotal Principal I2P3PR 9,836,556 Date of Issue 2P3DT 3/14/2002 Interest Rate 12P3PC 4.49837 Final Maturity Date I2P3DM 4/15/2021 IAmount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last rrwo Digits of the EDP Code Correspond to the Fiscal Year Ended) 12P302 515,000 ~P303 ~P304 ~P305 ~P306 ~P307 425,0001 420,0001 416,5561 425,0001 435,0001 ~P308 445,000 :>P309 450,000 2P310 455,000 ~P311 ~P312 ~P313 ~P314 ~P315 ~P316 ~P317 ~P318 ~P319 ~P320 ~P321 470,0001 475,0001 490,0001 505,0001 510,0001 525,0001 540,0001 560,0001 575,000[ 590,0001 61 O,OO~ Page 103 OSC Municipality 130386800000 TOWN OF Wappinger Schedule of Securities for Collateralization For the Fiscal Year Ending 2002 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 104 OSC Municipality Code 130386800000 TOWN OF Wappinger Schedule of Time Deposits and Investments For the Fiscal Year Ending 2002 EDP Code Amount CASH: On Hand 9Z2001 $800.00 Demand Deposits 9Z2011 $0.00 Time Deposits 9Z2021 $8,159,533.00 Total $8,160,333.00 COLLATERAL: - FDIC Insurance 9Z2014 $300,000.00 Collateralized with securities held in possession of municipality or its agent 9Z2014A $9,331,115.00 Total $9,631,115.00 INVESTMENTS: - Securities (450) Book Value (cost) 9Z4501 $353,427.00 Market Value at Balance Sheet Date 9Z4502 $360,487.00 Collateralized with securities held in 9Z4504A $360,487.00 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 105 OSC Municipality Code 130386800000 TOWN OF Wappinger Investment Certification For the Fiscal Year Ending 2002 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 Yes 3) 4) Do you engage in reverse repurchase agreements? Are Repurchase Agreements authorized by your investment policy? No Yes Name: Title: Phone Number: JOESPH RUGGIERO SUPERVISOR (845) 297-2744 Page 106 )SC Municipality Code 130386800000 TOWN OF Wappinger Bank Reconciliation For the Fiscal Year Ending 2002 Include All Checking, Savings and COO. Accounts Bank Add: Less: Adjusted Account Bank Deposit Outstanding Bank Number Balance In Transit Checks Balance 591-9900107 $53,370 $3,027 $0 $56,397 591-9913497 $11,715 $0 $0 $11,715 591-9900115 $42,645 $0 $0 $42,645 591-9900123 $126,562 $0 $0 $126,562 591-9900131 $45,239 $0 $0 $45,239 591-9900140 $151,539 $0 $0 $151,539 591-9900158 $247,772 $0 $0 $247,772 591-9900166 $111,648 $0 $8 $111,640 591-9900212 $1,181,002 $0 $20,663 $1,160,339 938-1190290 $9,811 $0 $0 $9,811 938-1189732 $56,819 $0 $0 $56,819 591-9000424 $92,568 $12 $92,580 $0 591-9916526 $4,860 $0 $0 $4,860 945-8913857 $2,299,933 $0 $0 $2,299,933 945-9022976 $957 $26 $0 $983 945-1778410 $3 $0 $0 $3 592-004325-2 $52,440 $0 $0 $52,440 592-005625-2 $219,753 $8,500 $244 $228,009 592-00561 5-5 $66,858 $0 $8,560 $58,298 592-005785-3 $33,613 $0 $28 $33,585 3981172261 $3,460,944 $0 $0 $3,460,944 CASH - NYEFC $529,328 $0 $0 $529,328 CASH-TMSC $136,465 $0 $0 $136,465 Total Adjusted Bank Balance $8,825,326 Eetty Cash $800.00 Adjustments $.00 Total Cash 9ZCASH * $8,826,126 Total Cash Balance All Funds 9ZCASHB * $8,826,126 * Must be equal Page 107 OSC Municipality Code 130386800000 TOWN OF Wappinger Local Government Questionnaire For the Fiscal Year Ending 2002 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 108 OSC Municipality Code 130386800000 CERTIFICATION OF CHIEF FISCAL OFFICER I, JOSEPH RUGGIERO the TOWN of WAPPINGER , hereby certify that I am the Chief Fiscal Officer of , and that the information provided in the annual financial report of the TOWN of WAPPINGER , is TRUE and correct to the best of my knowledge and belief. , for the fiscal year ended 12/31/2002 By entering the personal indentification number assigned by the Office of the State Comptroller to me as the Chief Fiscal Officer of theTOWN of WAPPINGER , and adopted by me as my signature for use in conjunction with the filing of theTOWN of WAPPINGER's annual financial report, I am evidencing my express intent to authenticate my certification of the TOWN of WAPPINGER's annual financial report for the fiscal year ended 12/31/2002 and filed by means of electronic data transmission. GERALD A. TERWILLIGER Name of Report Pre parer if different than Chief Fiscal Officer JOSEPH RUGGIERO Name (845) 298-0060 Telephone Number SUPERVISOR Title 20 MIDDLEBUSH RD., WAPP. FAll Official Address 04/30/2002 Date of Certification (845) 297-2744 Official Telephone Number Page 109 Municipality Code 130386800000 TOWN OF Wappinger Supplemental Section Comments For the Fiscal Year Ending 2002 Page 110 TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31. 2002 NOTE A - Summary of Accountillf! 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 31.2002 Summary of Accounting Policies (Continued) Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures 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. 2002 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. 2002 Summary of Accounting Policies (Continued) Expenditures are generally recognized under the "modified accrual basis" of accounting 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 which 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 of the 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 31.2002 Summary of Accounting Policies (Continued) that the Town can invest its excess cash balances at competitive interest rates. Market value of the repurchase agreements approximates cost plus accrued interest. The cash and investments of the Town at December 31,2002 are as follows: Special Capital Trust & General Revenue Projects Agency Fund Fund Fund Fund Total Non-Interest Bearing Accounts $800 $ -0- $ -0- $ -0- $800 Interest Bearing Accounts 801,319 2,050,903 5,540,590 432,514 8,825,326 Repurchase Agreements 353.427 -0- -0- :Q 353.427 TOTAL $ 1 155 546 $2 050.903 $3 059 285 $ m.lli $9.179553 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 $119,296 of accrued vacation and sick leave at December 31, 2002, 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. 2002 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 ofthe 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 of their 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: 2002 2001 2000 ERS $21.258 $11.442 $3.609 The Town's contributions made to the Systems were in excess of 100 percent of the 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. 2002 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 Internal 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 ofthe 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 31.2001 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 of 2002, $38,662 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 of loss 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 31.2002 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. 2002 A. General Fund Miscellaneous: Reserved for Inspection Fees Reserved for Escrow Total Miscellaneous Reserves 330,000 72,900 402,900 TOTAL $ 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, 2002: DUE TO DUE FROM General Fund $ 347 $ 335,269 Capital Projects Fund 235,711 13,425 Water Fund 31,013 1,543 Sewer Fund 138,862 67,782 Trust and Agency 10,432 347 TOTAL $ 416.365 $ 416.315 9 . TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2002 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 31,2002: BALANCE- January 1, 2002 ADDITIONS (DELETIONS) BALANCE - DECEMBER 31, 2002 2,892,058 $-0- $132,307 $32,869 $-0- -0- $ 6, 549,550 7,421,156 Land Buildings Improvement Other Than Buildings Machinery and Equipment $ 6,549,550 7,288,849 -0- 2,924,927 3.713.765 106.932 33.665 3.787.032 TOTAL $20.444.222 $ 272.108 $ 33.665 $20.682.665 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 31,2002, are as follows: AMOUNT OUTSTANDING AT DECEMBER 31, 2002 ORIGINAL ISSUE DATE MATURITY DATE INTEREST DATE ORIGINAL AMOUNT OF ISSUE PURPOSE Water 07/06/00 03/06/03 1.75% $ 500,000 $ 460,000 Sewer 07111/96 03/06/03 1.75% 403,000 90,000 Landfill 07/09/98 03/06/03 1.75% 580,000 150,000 Water 07/06/01 03/06/06 1.75% 160,000 147,000 Sewer 03/06/01 03/06/03 1.75% 2.566.420 955.444 SUBTOTAL $ 4.209.420 $ 1.802.444 Highway Equip 02/14/02 12/18/03 1.1 0% 250,000 200,000 Highway Equip 12/21/00 12/18/03 1.1 0% 239,991 144,000 Highway Equip 12/21/00 12/18/03 1.10% 363,000 152,000 Water 12/18/02 03/06/03 1.10% 205.000 205.000 SUBTOTAL $832,991 $701,000 Water 5/03/01 5/03/02 2.50% 5,150,022 5,150,000 TOTAL $10.192.911 $7.653.444 10 .. TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2002 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 of the 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, 2002 are as follows: AMOUNT OUTSTANDING ORIGINAL AT ISSUE MATURITY INTEREST AMOUNT DECEMBER 31, PURPOSE DATE DATE RATE OF ISSUE 2002 Water 36,800 1,200 Sewer 55,200 1.800 02/15/73 11/15/03 5.0% 92.000 3.000 Water 400,000 16,000 Sewer 500,000 19,500 Drainage 375.000 14.500 03/01/74 03/01/03 5.8% 1.275.000 50.000 Water 2,630,000 199,000 Sewer 3,005,000 224,000 Drainage 400,000 27.000 05/01/77 05/01/04 5.375% 6.035,000 450.000 Water 148,070 36,600 Sewer 362,000 67,257 Town Hall 700.000 130,275 12/01/85 06/01/05 7.75% 1.210,070 225,000 Sewer 364,500 -0- Machinery and Equipment 207.000 -0- 05/01/87 05/01/02 6.3% 571.500 -0- 11 ~ PURPOSE ISSUE Mrn.. *Sewer Tri-Municipal 11/12/92 Sewer Tri-Municipal 12/15/94 Sewer Tri-Municipal 06/01/95 Water-Fleetwood 07/30/98 Emergency Services Building 05/04/00 Purchase of Greystone Prop. 09/26/00 Refunding Serial Bond Water Sewer Drainage 10102/01 Refunding Serial Bond Emergency Services Building 10102/01 Sewer 03/14/02 TOTAL TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2002 MATURITY INTEREST DATE RATE 09/15/12 3% - 6.65% 05/15/15 Variable 11/15/15 3.70 - 5.55% 10/15/18 4.8094% 05/04/05 5.50% 10101/20 5.3173% AMOUNT OUTSTANDING ORIGINAL AT AMOUNT DECEMBER 31, OF ISSUE _ 2002 6,060,000 3,475,000 8,519,786 5,845,000 2,610,054 1.850,000 510,000 430,000 160,000 96,000 2,085,000 1.960,000 452,732 403,400 288,876 257,300 1.253.392 1.1 19.300 $1,995,000 1,780,000 08/15/11 3.772% 10/11/14 4.0023% 1.275,000 1.780,000 03/01/23 4.498% 9,836.556 9,321.556 $42,234,966 $26,680,556 *In September of2002, New York State Environmental Facilities Corporation sis a partial refunding 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. 12 . TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31. 2002 The annual requirements to amortize bonded debt, as of December 31, 2002, are as follows: YEAR ENDING DECEMBER 31, PRINCIPAL INTEREST TOTAL 2003 $ 2,010,000 $ 1,047,028 $ 2,667,028 2004 1,982,000 969,368 2,554,368 2005 1,773,556 883,419 2,445,419 2006 1,,710,000 1,074,235 2,784,235 2007 1,745,000 990,647 2,735,647 Thereafter 17.460,000 5.155.506 22.615.506 $ 26.680,556 $ 10.968.458 $ 37.649.014 NOTE E - Long Term Debt (continued) 2. Changes The changes in the Town's indebtedness during the year ended December 31, 2002 are summarized as follows: BALANCE BALANCE Januarv 1. 2002 ADDITIONS (REDUCTIONS) December 31. 2002 Serial Bonds $ 18,979,000 $ 9,836,556 $ (2,135,000) $ 26,680,556 Landfill Closure and Post-Closure Costs - Note J 225,000 -0- (75,000) 150,000 TriMunicipal SewerPlant Expansion Phase 3A Note I 7,725,580 -0- (7,725,580) -0- Judgements and Claims 40,000 -0- -0- 40,000 Compensated Absences - Note A.8 287-939 -0- 19.993 119.296 Total $ 27.257 519 $ 9.836.556 $ (10.104.223) $ 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 31,2002 amounted to $35,981. At December 31,2002, 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 31.2002 YEAR ENDING DECEMBER 31, 2003 2004 2005 2006 2007 TOTAL MINIMUM LEASE PAYMENTS OPERATING LEASES $26,087 $20,647 $20,647 $13,666 $339 $81.386 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 (122,138) Fleetwood Water ( 4,850) CWW 99 2-R. (1,842,111) Emergency Central Wapp Water#l (607,484) Highway Equipment-1999 (151,580) Highway Equipment-2000 (143,729) Drainage (95,716) TriMunicipal Phase 3B (20,545) Highway Equipmenmt-2001 (196,297) Oakwood Water Improvement (101,125) Recycle Center (21,066) Tri Municipal Phase 3A (277,350) NOTE I - Commitments and Contine:ent Liabilities 1. The Town is a defendant in various lawsuits and tax certiorari cases. The outcome ofthese 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 $40,000. 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. h 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 14 ., TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2001 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 31,2002, $17,189,840 in bonds have been issued through the Environmental Facility Corporation and $2,060,414 in Bond Anticipation Notes have been issued. Total project costs incurred through December 31, 2002, 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 $504,237 as of December 31,2002, 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 of project 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. 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 $955,44 to cover costs not eligible for bonding on the project through New York State Environmental Facilities Corporation. Through December 31,2002, total project costs incurred amounted to $10,386,204. 15 ", TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2001 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 $1 00,000 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 as of December 31,2002. 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 $2,105,433, as of December 31,2002. 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 31,2002, 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 31,2002, the cost incurred on the project amounted to $101,315. 8. Robinson Lane Recreation Area Sports Lighting On November 12,2002, the Town Board 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, included $785,000.00 for this project. No expenditures have been made on this project as of December 31, 2002. 9. Greystone-Carnwath Mansion Project In the year 2000, the Town of Wappinger purchased the Greystone Estate Property. The Town has hired 1. Kenneth Fraser and Associates to plan uses for the property and to seek grants to fund the project. As of December 31, 2002, various grants have been applied for in the amount of $845,000. However, no funding has been received as of December 31, 2002. 16 , .. .. TOWN OF WAPPINGER, NEW YORK NOTES TO THE FINANCIAL STATEMENTS (CONT'D.) DECEMBER 31.2002 NOTE J - Municipal 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 of the 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 of the landfill. A total of $563,931 has been expended on the project as of December 31,2002. 2. pou2hkeepsie-Wappin2ers-LaGram!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 ofthe 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 31,2002 amounted to $1,701. Financial statements are available from the Joint Landfill's Board. In addition, the Town of Wappinger paid its share of estimated expenses for the investigation phase for Landfill Closure in the amount of$19,133.00 17