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1984-12-31 IiIIl .. 'lU'JN OF WAPPI~ER .. TABLE OF CONI'ENI'S Accountant's Report PAGE 1 .. .. Financial Statements it. Canbined balance sheets - all fund types and account groups Canbined statement of Revenues, EKpendi tures and Changes in Fund Balances - all fund types Statement of Revenues, EKpendi tures and Changes in Fund Balances. General Funds - Schedule I Special Revenue Funds Highway - Part Ta.vn Federal Revenue Sharing Lighting Districts Other Special Revenue Sewer Districts Water Districts 2 .. 3 .. 4 .. 5 5 5 L5 5 5 .. Special Revenue FUnds - Detailed Lighting District - Schedule lIA Other Special Revenue - Schedule IIB Sewer Districts - Schedule lIe Water Districts - Schedule lID 6 '"(\ 8 9 ... i.. Selective Balance Sheets Sewer Districts Water Districts 10 11 IIIIl Statement of Changes in F'mancial Position Sewer Districts Water Districts 12 13 iM Notes to Financial Statements Separate Opinion on FRS Carpliance 14 15 .. ... .. .. .. .. .. .. ... ... .. ... .. .. .. III III III .. ... .. ... Ii. .. -- Xicho/as !Jl( Y(usso Gerilj)<!d Yu6/ic 71cc(junlanl J(oule <52 r5llOppin'l Ylaza'PG. 7Jo.x 1<59 Hopewell Juncl/on, ,Xy. 125.3.3 ( 914) 226-7002 March 29, 1985 The Honorable Francis J. Versace, Supervisor and fvBnbers of the Town Board Town of Wappinger Wappingers Falls, NY 12590 I have examined the canbined balance sheets of the various funds of the Town of Wappinger, as of and for the year ended December 31, 1984, and the related canbined statem=nts of revenue and expenditures and changes in fund balances for the year then ended. My examination was rrade in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as I considered necessary in the circumstances. In my opinion, the accanpanying canbined financial statem=nts re- ferred to above present fairly the financial position of individual funds and account groups of the Town of Wappinger, except for the fixed asset group of accounts as discussed in Note (C), at December 31, 1984, and the results of operations of such funds and the changes in financial position of the sewer and water district funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. NICHOLAS M. RUSSO, CPA -1- .. .. .. .. .. ... ... ... :2 ~ ;:i ~ t. ;Il~ ;>;*'- Q~ -" ~~~ *.,.~ -:<>< i ' ~ ~1;j5 ~:2 .. ... ... ... L .. II. ill .. .. .. .. ==: ~ C ~ ~ ~ f t:J , 'I 'e:* ~ .',.-. ~I ;;;!~ f= ~H :S, e ;: -:1 J~ :;<, :!-- ~I ::;1 ~I , ~! : ~I~ ~I i"- ~I I ! "I ...1 "-i r, ...1 ""I 0,1 ~~~ ~i=~ ~ "- i:l tJl ~ ~ ~I ~ 3lJlI ~ ~ ~ I~i I I I ! 3_ ~::: "';:; :;:~ ~ ~ -:, 8 ~ ~ ~ ~~~ ,.... ~ ~ 8 ; ~ ~ ~ 8~ ~ ~ ~ ~ ~ N ~ ~ ~~ N ~ N N N N"'lI' ~ ~ . M,.... . ~ .... .... .... co co co 'D 'D 'D 000 '" '" '" I ...... I,.... ,.... '" '" '" '" '" '" .. .. .. ,., 'D "" co .. 'D '" .. II> ill ~Q ;;-:;< ~H "" '" '" '" o '" '" .. 'D o co .. II> II> .. .. 0 .. '" 0 co .. '" "" co 0 '" g; ~ :a .... '" ~~~ ,.. ~ .... 1/'\ CD ,...,... co CD co 0\ 0 N a:> 'D'D .. "'''' ,.....M . '" II> '" o .... 0 '" o '" "" '" .... .. .. , I , , "" o '" '" a:> '" II> ~ "' ~ f! l~j~~lj ~ '~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ] ]~ 1'2 ] f! ] e e ~ ;~ '~ ~ ~ ~ ~ ~ j ~R .. 8 0 :~ i,~ lrl '.. '" ! f! ~E ~ .88 ~ ] ;~ ~ I ~ i~ ~ ~ ~ i ; i ~ ~ UI ~ ~j - 0,.. 0 "" 01-1 co Lf'l \D 0\0 0\0 ,..:,....;~~,....;...:'" -O\""'OCDMO CO"MO'\"'lI'0'\0 ... ... ... ... ... """"'Nr"I.DOO\ CO"'ll'--NO(J) - M...,....\O ....a:> II> , , I , , , : :~~ II> , , , , I I , I I I I I II> , , , , "" ~ 'D 'D M a:> a:> ,....,.. I . I 'D 'D '" '" .. .. II> , , I I I , : I : : II> , , I I ' ,1,1 I I I I I II> ~g:D gl""~ \OCI)Lf'l NN (7\..,.... ... -.~~Il" .."'N ON ""'\D- Cl)1'""\ "'- "''D II> ~~ 8 - '" "'g; ~::l ~;;:,~, ... ... I .. I C7\- ,.. a:> - "" II> I ,~ '" '.. If! ~ ,~ II E,~ i ~,~~ 'j~,~ e t..2... ,... ~~Il~~~~~~~ 5 e 'j :l ] ].-. ~~~j~~~j!~ ::l j ,.. co 'D o '" ,.. N N ... .... co 'D o '" .... '" '" .. ~ ~ ~ ~ "' ~ 3!"'] ,S ~ I ~~ '" .l2 ~ 0; & ~] ]~2 >- ~ '.. :tl 0 ..... tL. ... Fo 'i"" ~ ~ g.... 0 - - "'i'D~ I -- OU"'lU"'ll/'l- ~..; N';''';';''; M MOO-I/"'!I.O ~ :::~~:I "'" ..\O-co,.... 0000""'0\\0 I ""\1'\0'\00 II> o~ o '" co .. , I "; :i " ,,~! I I I I 'D '" .. II> ~~ ~~ ....."" ~o:. i: I ; ; ~~~l I .. ... .. """,.....NN I ....0\0\ N ........ I '" c: ~ I ,1,1,1,1/2 I I I I I Ul II> Ul :c '" I I , , o ..I.... ......~ ... 0.......,..... 0 . . . . . ~:-ggg~ t ~\D":a:.. a CI)"""""'''''co \D 0"""""" 0 ..... """"'OON 1'0 " .. .."'''':: g- o :h ~ ~ ~I~~-:;~ : CQ)-- ... 000'\0'\ to o..."'V" .. .... tn I/'\(I) \D ., ~~~ ~ '" 'l: '" Ul ~ 'l: ~Q 8' .~ .:; 1 ~ c.. ~j~ ~,~~ ~ j:j~'''B~~ ..", ~ ... ~ r8~33~~ ~> ~ ~ f: R ~ 'I'CWl OF' Wl>.PPItCER 'III <XMlINEI> S1'A'I'EMEM' OF REVENJES, EXPDDI'IUIES AID 0Wl::iES IN FlHl !lAlJ\N:ES ALL ~AL fUN) 'I'YPfS ~ '!liE FISCAL YFAA EN>ED DEX:DIlER 31, 1984 ~AL FlHl TYPES 'IUI'AL III SPOCIAL OEm' CAPITAL (~ GmERAL RE.VENJE SmvICE PRnJEL'TS OOLY) Schedule I Schedule II REVENJES AND CYI'HEll SOORCES .. Revenues Real Property Taxes $ 13 ,597 .00 $ 994,398.00 $ $ $1,007,995.00 Real Property Tax Items 25,080.80 723,093.00 748,173.80 Non-Property Tax Items 7,270.72 7,270.72 DepartJrenta I Incane 24,586.84 780,319.97 804,906.81 Intergoverr<rental Olarges 4,429.90 5,293.86 9,723.76 .. Use of /oXJney and Property 44,592.90 197,594.42 242,187.32 Licenses and !'ermi ts 80.00 80.00 Fines and For fei tures 17,746.00 17,746.00 Sale of Property and Crnpensation for Loss 5,146.90 7,644.03 12,790.93 .. Miscellaneous Local Sources 55,777.94 208,868.04 701.70 265,347.68 Interfund Revenues 47,228.65 47,228.65 State Aid 714,112.67 115,087.57 829,200.24 Federal Aid 109,969.00 109,969.00 Tota I Revenues $912,421.67 $3,189,496.54 $ $ 701. 70 $4,102,619.91 .. Other Sources Operating Transfers 51 , 040.99 12,005.31 433,131.25 4,000.00 500,177.55 'IUI'AL REVENUES AID CYI'HEll SOORCES $963,462.66 $3,201,501.85 $433,131.25 $ 4,701 . 70 $4,602,797.46 III EXPENDI'lURES AND CYI'HEll USES D<penditures General Goverr<rent Support $543,455.48 $ 31,668.47 $ $ 63,602.75 $ 638,726.70 III Public Safety 98,442.93 12,268.62 110,711. 55 Hea I th 50,000.00 50,000.00 Transportation 61,150.98 855,034.95 916,185.93 D=oncrnic Assistance and cnortunity 2,300.00 18,360.52 20,660.52 CUI ture and Recreation 144,247.89 27,896.99 172,144.88 .. Hare and Camunity Services 45,400.90 1,081,402.49 1,126,803.39 Employee Benefits 130,757.97 94,093.63 224,851. 60 Debt Services (Principal and Interest) 672,058.79 433,131.25 1,105,190.04 Total Expenditures $1,075,756. 15 $2,792,784.46 $433,131.25 $ 63,602.75 $4,36:>,274.61 I ... Other Uses M I Operating Transfers 205,549.77 67,636.38 273,186.15 1U!'AL EXPEWI'lURES AID arHER USES $1 , 281 , 305. 92 $2,860,420.84 $433,131.25 $ 63,602.75 $4,638,460.76 III Revenues and Other Sources Over (Under) Expendi tures and Other Uses (317,843.26 ) 341,081.01 (58,901.05) (35,663.30) III Other Olanges in Fund Balance Additions Reserve for Debt Payrrents 44,936.17 44,936.17 Liabilites Paid fram Appropriations 2,988.50 291,270.26 294,258.76 JVrounts not Paid Other Funds 2,759.01 2,759.01 ... Deductions Write off Accounts Receivable 125,007.00) (1,587.251 ( 1,434.34) 128,028.591 Write off Prepaid Expense /804.11) (804.11) Net Additions (Deductions) (22,822.61) 289,683.01 46,260.84 313,121.24 Fund Balances - BegiMing of Year $527,257.38 $4,445,136.42 $ $505,200.94 $5,477,594.74 IiIIl Fund Balances - End of Year $ 186, 591. 51 $5,075,900.44 $ $492,560.73 $5,755,052.68 'ill(! ~te5 to the Financial Statcsrents are an inteqral part of this statement. .. -3- IiIIl ... ;; i. .. .. .. Schedule I Ta\1N OF WAPPI~ER STATEMENT OF REVENUES, EXPENDITURES AND C~ES IN FUND BALANCES GOVERNMENrAL FUND TYPES FOR THE FISCAL YEAR ENDED DOCEMBER 31, 1984 .. GENERAL FUND TYPE Ta\1N WIDE Ta\1N OUl'SIDE VILIAGE REVENUES AND aI'HER SOURCES Revenues Real Property Taxes Real Property Tax Items Non-Property Tax Items Departrrental InCCITe Intergovernrrental Charges Use of t-bney and Property Licenses and Penni ts Fines and Forfeitures Sale of Property and Corrpensation for Loss Miscellaneous Local Sources Interfund Revenues State Aid Federal Aid Total Revenues . Other Sources Operating Transfers .. 'lUl'AL REVENUES AND aI'HER SOURCES $ 13,597.00 $ 25,080.80 7,270.72 5, 183. 14 19,403.70 4,429,90 35,228.53 9,364.37 80.00 17,746.00 3,500.00 1,646.90 4,623.44 51,154.50 540,701.67 173,411.00 $645,740.58 $266,681.09 29,400.00 21,640.99 $675,140.58 $288,322.08 .. .. .. .. .. EXPENDITURES AND aI'HER USES Expenditures General Governrrent Support Public Safety Health Transportation Economic Assistance and Opportunity CUl ture and Recreation Home and Camluni ty Services Employee Benefits Debt Service (Principal and Interest) Total Expenditures Other Uses Operating Transfers 'IDTAL EXPENDITURES AND aI'HER USES Revenues and Other Sources OVer (Under Expenditures and Other Uses Other Changes in Fund Balances Additions Reserve for Debt Payments liabilities Paid fram Appropriation Accounts not Paid Other Funds Deductions write off Accounts Receivable write off Prepaid Expense Net Additions (Deductions) Fund Balances - Beginning of Year Fund Balances - End of Year $445,496.24 7,137.90 50,000.00 61,150.98 2,300.00 113,114.51 5,457.43 109,907.63 $794,564.69 $ 97,959.24 91,305.03 .. . 31,133.38 39,943.47 20,850.34 $281,191.46 .. ... 23,000.00 $817 ,564.69 182,549.77 $463,741.23 $(142,424.11) $(175,419.15) .. .. 2,916.50 72 . 00 .. (25,007.00) (22,090.50) $583,166.99 $418,652.38 ( 804. 11 ) (732.11) $(55,909.61) $(232.060.87) II. The Notes to the Financial Statements are an integral part of this statement. .. -4- ... .. .. III (j 0 .... a) 0 ~ i If'I r- i~ ~I -0 0 "" '; 0 "" r- '; F.j::: "" r- r- 0 If'I 0\ r- ~ U'l '" Ilf'I .... I I ~ I I I I 0 - I I , I I .... -ill "" I r- N I I I I I I 0 N I I I I I .... 0.... ..; ,.: N ...;- ::> 0 .... ... I! N N '" "" "" "" II> t 0 a) "" "" r- N ~ ~ .... -1 ~ ... 0 '; a) ~ .... "" '; -.... a) -u ~::: 0 a) If'I .... '" "" a) r- If'I "" "" ~ a) .... - 0 >D NO\ r- r- .. If'I .. .. r- ....- If'I "'ilI ..; I . I I .. I .. I I I I I I I 0.... IN .... I I - I,.... I I I I I I I 0 0\0 If'I ::> 0\ Q If'I If'I '" N.... "" !! "" .... r- ""0 11M II> II> .. i i If'I N N ~1 I NN '" a) '1 r- If'I ~ "': If'I 0- r->D 0\ ": .r: >D . .. :i!al .... 0\ r- e- a) a) N >D N 0\ I>D 01' ~ I I ~:g ... \D I I If'Il a) I '" ...... 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U IlJ '" ill - ~ ~ '" ~ ~ 4-1 C ~ ~ ~ a ~, E ~ !~,~ ~! ! ~ i c: >. :s .,-j Ul .,-j =' CJ E" e:l... ~~ ~ I .~~j~tt-~ ~_!3 ~ 8"'3 "'-"'j c: ~Ul .. t t t ] ~ >. >.] ~ i-E ~ J ~ J ~ ~ >.... ~ '" <1l:J ... ... '" t 1! ill ?=. ~ ~t ~ "..~~ ~kl "r" !~ ! ~ ~ ~I~] "'!-~ B~ ::: t.7l U 'E1! t:~ ",8' ",tt ~tt ~~ ~~"O ~~ "0 ::: ~t:~'" l~ ~ so,to &J ."" I~-- 10 .~ ~ i~~H"~"p~ld!~ 1~~3jB "!~~ ... -..~ -..5~ ]~!t:6 ]fl:J<1l ~~ ::> ~ ~ l~ ~ j ?=. ~ ~ i~ g ~ ~ ... ] ~ .5 :J j~.7l -f.5Ul B bl ... .. .. .. .. .. ... .. ... i,Il ~ ~ ... ;@Ol g::: :l. CI ~ ~ U)S Z ~ ~~ ~ ;;; ~!~! ~~ ~<~O ~~~ i~~~ ~~~ ~~i~ ~~~ ~~~~ ~ ~.... ~ ~ ~ ~ ~ ~ I I ~ ... .. .. .. .. III IiII .. II. .. .. I~ -0 ;::::: tIl - CI 0.... " ~] ~~ .... ... '" '" '" ,.., V> ... '" .... o o ... :~j ;j i :~1 ~ ~ G -u "'.... !ii.... - CI 0.... ~j UJ~ ,.., N N .... N '" '" '" '" N V> i ... '" '" .... '" '" V> :~ ~ ; ,.., N .... ,.., '" V> ~ :i ~ ~ I ~ I ... ... .... '" '" o o V> j ~ Ul Ul s t ~ ~ i .S ~ ~ n I ~ -A ~~ ,,- ]~ ~T ! : ~ 111:1 ~1 ~ ~ x _ '~Ul S H ~~] ~ ~l~i ~ j'~ m i B~ ~ '15 ~l~!~~ ~~~i~ ~' ~ ~' '" ~ ~6~m !U.~ n",s'a.:='a!5 2' al S iUi ~Hj~~E jBj~J~ ! ;l;~ f .. TCWN OF WAPPIM;ER STATEMENr OF REVENUFS, EXPENDITURES AND Cf-lAM;ES IN FUND ~ES GC:>VERNMFNrAL FUND TYPES .. Schedule IrA FUR THE FISCAL YFAR ENDED DOCEMBER 31, 1984 .. .. REVENuEs AND CJI'HER SOURCES Revenues Real Property Taxes Real Property Tax Items Non-Property Tax Items Departmental Inccxre Intergovernrrental Charges Use ot t-bney and Property Licenses and Penni ts Fines and Forfeitures Sale of Property and Canpensation for Loss Miscellaneous Local Sources Interfund Revenues State Aid Federal Aid 'lbtal Revenues Other Sources Operating Transfers 'TOTAL REVENuEs AND CJI'HER SOURCES .. .. .. .. .. EXPENDITURES AND CYI'HER USES .. Ex:pendi tures General Goverrurent Support Public Safety Health Transportation F.conanic Assistance and Opportunity CuI ture and Recreation Hare and Coornuni ty Services Employee Benefits Debt Service (Principal and Interest) Total Expenditures .. f .. .. II. Other Uses Operating Transfers 'TOTAL EXPENDITURES AND CJI'HER USES Revenues and Other Sources OVer (Under) II. Expenditures and Other Uses Other Changes in Fund B3.lance Additions Reserve for Debt Payments Liabilities Paid from Appropriation Accounts not paid Other Funds Deductions write off Accounts Receivable write off Prepaid Expense Net Additions (Deductions) [ Fund B3.lances - Beginning of Year - Fund Balances - End of Year .. ... SPOCIAL REVENUE TYPE LIGHTIM; DISTRICI' FUND HUGHSONVILLE CHEISFA CAMELI $13,242.00 996.39 $14,238.39 $14,238.39 13,040.26 $13,040.26 $13 , 040.26 $ 1, 198. 13 (1,284.33) (1,284.33) $ 4,492.70 $ 4,406.50 $5,429.00 $ 4 17 . 00 613.62 124.44 $6,042.62 $ 541. 44 $6,042.62 $ 541.44 5,307.04 537.92 $5,307.04 $ 537.92 $5,307.04 $ 537.92 $ 735.58 $ 3.52 (291.70) ( 11. 22 ) (291.70) $2,014.53 $2,458.41 $ $ ( 11.22) 177 . 23 169.53 .. The Notes to the Financial Statements are an integral part of this statement. -6- ~ .. .. ::l ... :r: , , , , , , I I I I .. g I I I I , , , , , , ~ .. ~~ - r-", ~ -"" I j '" 0 i OM ~ j "'.,. r-", 0 ~ O- M'" "'M '" N 0.,. .,.M "'M 0 .,. 0'" N'" Nr- N 0 00 ~ ~ a) 0'\ I I "'- M' r- 0"" .. ....'( ,..... \D I I NO N' Or- M r-M "" -"" ~ .,.- N <1>- Ul II. - .,. ~ NO j i '" 0 ~ 00 ~ i '" .,.0 N 0 Or- II '" r-_ '" 0 0'" .,.- "" 0 0'" ..,. I , I ""'" N' 0 OM .. I I I . , '" _N '" 0\ Mr- '" r-O\ r- M_ III M_ N - ""N ~ "'''' i ~ r- ~ 0 ~ ~ ~! 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OM N~C ,.,-."'''',., -f'....M,.... ..... .... ,.....N ,...__ '" -- II> ! II ~ ; ~I ! l<Hp il:d" ~I - - ~ :s ~ 2"~ ~ ~I ~ g ! ~ 6 I ~ ~I [~ ~.g ~ .~J ~ ~ e m ~ - ~ ~I j ~ ~ ~ - ~ ~ i dW ~:; ~ ~ a g; ; n ~I j ~ H~ n ;111 j ~~D:. !~ i~ II ~I ~ ~~ il <; WiB ~~ ~ ~ ~I :i.... ~I ~ ~ oS ~ ~ ~ ~ i N o (I) '" ,... j :l In In ~ I M , II> .... o i ..... .. ... S' ... c .... ~ QI ... .. In J :l t1J ..... .~ .... to.. ~ B j ~ .. 'ImN OF WAPPI~ .. December 31, 1984 .. Notes to Financial Statem:mts .. (A) Basis of Accounting and Presentation: The accarp:mying general purpose financial statem:mts of the Town of Wappinger are presented using the rrodified accruel basis of accounting. The arrounts shown in .. the IlTotal (M3rorandum Only)1I column of the accarp:mying canbined financial state- rrents are presented only to facilitate financial analysis and are not the equivalent of consolidated financial statem:mts. .. (B) Cash and Investrrents: Investrrents in Time Deposit (CD's) are segregated and recorded as investrrents ... for bookkeeping purposes. However, for reporting purposes, these arrounts are can- bined with other cash items on the financial statem:mts. .. (C) General Fixed Assets: Since 1975, it has been the town's policy and procedure to record at the time of acquisition General Fixed Assets, as expenditures in the various funds, excluding the water and sewer district funds. Gifts or contributions are recorded in the General Fixed Asset group of accounts, at fair market value as of the date received. ... .. ... However, since the town does not maintain a fixed asset accounting system and General Fixed Assets acquisitions were never recorded prior to 1975, I did not exa- mine the financial statem:mts of the fixed asset account group and, accordingly, I was unable to express, and I do not express, an opinion thereon. ( D ) Depreciation: .. In accordance with generally accepted accounting principles applicable to govern- rrental entities, depreciation, as an elem:mt of expense, has been recorded in the water and sewer district funds. .. II1II II1II .. .. ... .. (E) Arrounts Due the City of New York: The town owes the City of New York the arrount of $317,905.00 for real property taxes illegally assessed in prior years. Under the terms of a settlem:mt, the arrount due is to be paid quarterly over five years, beginning in 1985. The town's administration has informed me that the arrount of $63,582.00 has been included in the contingency fund of the part town general fund budget. (F) Internal Control: No material weaknesses in internal control were noted during the course of my examination, except for the General Fixed Asset group of accounts. Therefore, internal controls were deerred adequate for the purpose of exercising effective accounting control over assets, liabilities, revenues and expenditures, except as discussed under Note (Cl. -14- ... III! ,X/cho/as 2lr. 7?usso filii .. III! filii filii .. .. .. .. III! .. .. III III! .. III! III Cl!rltjil!d 7th/ir 7!rcf}un/"n/ 7(ou/1! ,!'2 ('i/lOppir1r! 7f<1L<J 7)0 7JO\ /,j'9 7/opl!(JJI!// .lundion, xy /2.5.JJ ( 914) 226-7002 M3.rch 29, 1985 '!he Honorable Francis J. Versace and, t-Bnbers of the Town Board Town of Wappinger Wappingers Falls, NY 12590 I have examined the canbined financial staterrent of the Town of Wappinger for the year ended December 31, 1984 and have issued my report thereon dated M3.rch 29, 1985. My examination was nade in accordance with generally accepted auditing stan- dards and accordingly included such tests of the accounting records and such other auditing procedures as I considered necessary in the circumstances. In connection with my examination, I also (1) perforrred tests of carpliance with the Revenue Sharing Act and regulations as detailed in the ccmnentary on the audit requirerrents of the 1980 amendments to the state and local Fiscal Assistance Act issued by the Office of Revenue Sharing, u. S. Depa.rt:Irent of the Treasury, and (2) carpared the data on the appropriate Bureau of Census form RS-9F with the audited records of the Town of Wappinger. In my opinion, for the items tested, the Town of Wappinger canplied with the aforerrentioned provisions of the Revenue Sharing Act and regulations. Further, based on my examination and the procedures referred to above, nothing cane to my attention to indicate that the Town of Wappinger had not canplied with the afore- mentioned provisions of the Revenue Sharing Act and regulations. ~~~ -15- II. .. II. .. .. 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