1998-12-31
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POUGHKEEPSIE- W APPINGERS-LAGRANGE
JOINT LANDFILL PROJECT
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FINANCIAL STATEMENTS
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YEAR ENDED DECEMBER 31, 1998
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POUGHKEEPSIE-W APPINGERS-LAGRANGE JOINT LANDFILL PROJECT
T ABLE OF CONTENTS
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Accountant's compilation report
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Balance sheet
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Statement of revenues and expenditures
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Statement of cash flows
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D~f\rcangelo& Co.,LLP
Certified Public :\ccountants & Consultants
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\1 id-Hudson Partners
Thomas R Csillag. CP.-\'
\1 ichael C. Betros. CP.-\,; PFS
Peter C. Geertz. CP,-\'
John 1. Cina. CPVPFS
\\ayne E. Sauer. CP.-\'
JeFfrey F. Harrison. CP-\'
John D. Bertolozzi. Jr.. CPA
38 Haight Ave.. Poughkeepsie. \J.Y 12603
91-l-H3.7774
Fax: 9H45-l-8-l85
Church St.. PO. Bo.x D
\Iillbrook. ~y 12545
914-677-<3823
Fax; 91-1.;)77 -DllO.j
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Board of Governors
Poughkeepsie- W appingers- LaGrange
Joint Landfill Project
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We have compiled the accompanying balance sheet of the Poughkeepsie-Wappingers-LaGrange Joint Landfill
Project as of December 31, 1998, and the related statement of revenues and expenditures and statement of
cash flows for the year then ended, in accordance with Statements on Standards for Accounting and Review
Services issued by the American Institute of Certified Public Accountants.
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A compilation is limited to presenting in the form of financial statements information that is the representation
of management. We have not audited or reviewed the accompanying financial statements and, accordingly,
do not express an opinion or any other form of assurance on them.
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Management has elected to omit substantially all of the disclosures required by generally accepted accounting
principles. If the omitted disclosures were included in the financial statements, they might influence the
Ii. user's conclusions about the Joint Landfill's financial position, results of operations, and cash flows.
Accordingly, these financial statements are not designed for those who are not informed about such matters.
.. We are not independent with respect to the Pougpj(eepsie-Wappingers-LaGrange Joint Landfill Project.
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January 8, 1999
Poughkeepsie, New York
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Mid.Hudson . Utica/Rome. Westchester
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POUGHKEEPSIE-W APPINGERS-LAGRANGE JOINT LANDFILL PROJECT
BALANCE SHEET
December 31, 1998
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ASSETS
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Current assets
Cash
Accounts receivable
$ 25,349
4.842
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Total assets
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LIABILITIES AND FUND BALANCE
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Current liabilities
Accounts payable
Deferred income
Total current liabilities
$ 295
12.199
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Fund balance, beginning
18,307
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Less: Excess of expenditures over revenues
610
Fund balance, ending
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T otalliabilities and fund balance
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$30.191
$ 12,494
17.697
$ 30.191
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POUGHKEEPSIE-W APPINGERS-LAGRANGE JOINT LANDFILL PROJECT
STATEMENT OF REVENUES AND EXPENDITURES
Year ended December 31, 1998
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Revenues
Assessment
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Expenditures
Maintenance
Utilities
Accounting
Total expenditures
$ 7,707
4,103
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Excess of expenditures over revenues
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See accountant's report
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$ 12,000
12.610
$ (610)
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POUGHKEEPSIE-W APPINGERS-LAGRANGE JOINT LANDFILL PROJECT
ST A TEMENT OF CASH FLOWS
Year ended December 31,1998
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Cash Flows From Operating Activities
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Excess of expenditures over revenues
Adjustment to reconcile excess of expenditures
over revenues to net cash provided by operating activities
Decrease in accounts receivable
Increase in deferred revenue
Increase in accounts payable
Net cash provided by operating activities
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$ 1,622
200
295
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Cash, beginning
Cash, ending
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See accountant's report
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$ (610)
2.117
1,507
23.842
$ 25.349
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