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1977-12-31 ill ... ... i. .. II. TOWN OF WAPPINGER ... AUDIT REPORT i lit DECEMBER 31, 1977 I.. March 29, 1978 ... ( l.. La ( .. .. I.. II. i. i. .. j ... ~ \ g>e&~. and !/~ ~ g>"Ik .SIt _taJ. RECEIVED APR 1 0 1978 ELAINE H. SNOWDEN ,,' ~ tll . ~ n ..i .1 ~1i ..i ;:':11 lIIil ;~il . J~I 4111 j JI ~I ~I ~I _I )1 ~I JI J ~ JI JI JJ .. .. TOWN OF WAPPINGER ... .. i. TABLE OF CONTENTS DECEMBER 31, 1977 .. Page 1 Auditors' Report Pages 2-3 Comments Pages 4-6 All Funds Pages 7-11 General Fund Pages 12-17 Enterprise Fund - Sewer Districts Pages 18-23 Enterprise Fund - Water Districts Pages 24-30 Special Revenue Fund Pages 31-33 Capital Projects Fund Pages 34-35 Trust and Agency Fund Page 36 General Fixed Asset Group of Accounts Pages 37-38 Debt Service Fund }. lit III .. .. .. ... tIr. lit .. .. ... .. .'-. .~ \... {J>elkpin'; and f/dOl'f' ~ fJ'.lie .#e-t~ J t .. ,~ "" ~ ! .. .i J .t , , ~ J ~ ~ , j i ~ ~ ~ ~ ~ .. .. f!jJellrm' and !/:dmce ~dtjk1 f!Jallic dwantanG C~Ve &>a"i .... .. ONE OVEROCKER ROAD POUGHKEEPSIE, NEW YORK 12603 ... 914-482-9090 .. .. March 29, 1978 .. .. Mr. Louis D. Diehl, Supervisor Members of the Town Board Town of Wappinger Wappingers Falls, New York 12590 ... Gentlemen: .. We have examined the balance sheets of the various funds of the Town of Wappinger, New York, as of December 31, 1977, and the related statements of Revenue and Expenditures and Changes in Fund Balance for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such test of the accounting records and such other auditing procedures as we considered necessary in the circumstances. ~ .. ; .. In our opinion, the accompanying balance sheets and related statements present fairly the financial position of the various funds and balanced account groups for the Town of Wappinger, New York, at December 31, 1977, and the results of their operations for the year then ended, in conformity with generally accepted accounting principles applicable to governmental entities, applied on a basis consistent with that of the preceding Fiscal Year. '- .. .. Respectfully submitted, .. PELLEGRINI AND SEDORE, C. P. A.s L ~, t-. il. James L. Sedore, Jr. Certified Public Accountant JLS: fs i. Enc: Statements 1\ .. ~ 1 ik ... J TOWN OF WAPPINGER -~ .. 1 .. COMMENTS FOR THE YEAR ENDED DECEMBER 31, 1977 'f .. -~ " 1. Method of Accounting: During the year under review, the books and records were maintained on the modified accrual basis of accounting using a double entry system. J This system has been mandated by the State of New York, Department of Audit and Control for years beginning in 1978. J J 2. General Fixed Assets: J J .+J II ~ J J J General Fixed Assets are recorded as expenditures in all but the Enter- prise Funds, at the time of purchase. Such assets are capitalized at cost in the General Fixed Asset group of accounts. Gifts or contributions are recorded in General Fixed Assets at fair market value at time received. The New York State Department of Audit and Control recently mandated that, as of fiscal years beginning in 1978, municipalities will be required to maintain fixed asset accounting. Since 1975 the town has been in compliance with this mandate for assets received in those years. However, in order to fully comply, an industrial appraisal of all assets should be undertaken by a reputable company in this field. The appraisal should provide new reproduction cost, depreciated values, original cost or appraised historical cost and annual depreciation calculations. 3. Depreciation: In accordance with the directions of the American Institute of Certified Public Accountants', Industry Audit Guide, depreciation, as a means of allo- cating the cost of tangible capital assets to expense over the useful life of such assets, has been introduced into the accounts of the Town of Wappinger's Enterprise Funds. J J In order to fully comply with this directive all Town assets must be depreciated. As the aforementioned appraisal has not been initiated, de- preciation, for General Fixed Assets, has not been recorded. 2 [JJ~rw' and !/edtJN ~ fi'.Ik ~r4 .,.t-Il J J j ~ ~ lilt '- 4. Compensation for Personnel: .. During the year under review, various individuals have been paid after submission of a voucher for personal services. In the absence of a con- tractual arrangement between the Town and the supplier of personal services, the Town must comply with the provisions of the United States Internal Revenue Code, Tax Law and Social and Retirement Law. .. \. 5. Debt Service Fund: ... During the year under review, a debt service fund was established to account for the payment of interest and principal incurred in connection with all funds except the Enterprise Fund. This also has been mandated by the State of New York, Department of Audit and Control for fiscal years beginning in 1978. .. .. 6. Internal Controls: .. During the year under review, internal controls were found to be adequate for the purpose of exercising effective accounting control over assets, liabilities, revenues and expenditures. ... 7. Internal Financial Reporting System II. The Internal Financial Reporting System referred to in our prior audit report was only partially implemented during the year under review. The voluminous amount of detail necessary to be analyzed in order to establish such a system for all funds was not fully anticipated. 'k .. .. It is recommended that in order to properly establish this reporting system that internal personnel structural changes be made. Clear lines of authority should be established and defined areas of responsibility be charted so that each individual can know what portion of the program such person must implement. ... ... 'lit .. .. i. i. ill 3 {J'JJ,ri and !/<<ioN ~ fJ'.Ik .#-I.. .... EXHIBIT A-l TOWN OF WAPPINGER ALL FUNDS BALANCE SHEET DECEMBER 31, 1977 ASSETS CURRENT ASSETS Cash in Bank and on Hand Accounts Receivable $ 905,867.90 56,316.32 TOTAL CURRENT ASSETS $ 962,184.22 FIXED ASSETS General Fixed Assets Utility Plants in Service Less: Accumulated Depreciation $ 2,637,801.25 $12,254,292.83 1,905,915.54 10,348,377.29 TOTAL FIXED ASSETS . 12,986,178.54 $13,948,362.76 TOTAL ASSETS LIABILITIES, RESERVES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable Retained Percentages, Contracts Payable Serial Bonds Payable - Current Portion Bond Anticipation Notes Payable - Current $ 93,524.00 25,334.41 288,000.00 Portion 57,500.00 $ 464,358.41 $ 8,076,000.00 563,800.00 8,639,800.00 $ 9,104,158.41 $ 41,953.72 147,069.05 $ 189,022.77 $ 181,771.00 4,473,410.58 TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES Serial Bonds Payable Bond Anticipation Notes Payable TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES RESERVES FOR Encumbrances Bonded Debt TOTAL RESERVES FUND BALANCE Appropriated - Ensuing Year's Budget Unappropriated TOTAL FUND BALANCE (Exhibit A-2) TOTAL LIABILITIES, RESERVES AND FUND BALANCE 4 fiJe&"wu' and f/~ ~ f#J~ ..~ .Il'_~ 4,655,181.58 $13,948,362.76 WI III ~ ... .~ .II 4 41 ~ J J J J , ~ J j J ..1 J J J J 4 j .. .. .. TOWN OF WAPPINGER ALL FUNDS STATEMENT OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1977 ... .. FUND BALANCE - JANUARY 1, 1977 .. ADD: Excess of Revenue over Expenditures (Exhibit A-3) ... TOTAL .. DEDUCT: Understatement of Accounts Payable at December 31, 1976 Increase in Reserve for Bonded Debt To record Depreciation on Water and Sewer Plants in Service from the Date put into use to December 31, 1976 '6' .. .... ... FUND BALANCE "It!: .. .. .. tJ L lJ U ti 1 d \J $ 6,925.25 130,737.77 1 ,605,711. 57 5 IJJelleruu' and !/edoN ~ fJJ.Ik d., .II~ I \ EXHIBIT A-2 $ 6,160,566.04 237,990.13 $ 6,398,556.17 1,743,374.59 $ 4,655,181.58 . EXHIBIT A-3 TOWN OF WAPPINGER ALL FUNDS STATEMENT OF REVENUE AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1977 REVENUE: Real Property Taxes Intergovernmental Revenue Sewer and Water Charges Gifts and Contributions Interest and Earnings Charges for Services Penalties and Interest on Delinquent Taxes and Charges Other Revenue $ 1,570,294.10 561,946.95 340,571.81 150,460.00 54,864.69 66,503.15 23,266.98 10,445.53 $ 2,778,353.21 $ 616,608.77 810,119.06 156,611.22 656,820.06 TOTAL REVENUE EXPENDITURES BEFORE DEPRECIATION Personal Services Contractual Expenses Employee Benefits Interest on Debt TOTAL EXPENDITURES BEFORE DEPRECIATION $ 2,240,159.11 EXCESS OF REVENUE OVER EXPENDITURES BEFORE DEPRECIATION $ 538,194.10 Depreciation 300,203.97 ... EXCESS OF REVENUE OVER .-----EYPF.NnIrrr T"Rli''::: ~ 0':).7 oon 1':). EXHIBIT B-2 TOWN OF WAPPINGER GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE FOR YEAR ENDING DECEMBER 31, 1977 Total Town Outside Townwide Village Highway FUND BALANCE JANUARY 1, 1977 $245,219.40 $122,125.84 $ 60,674.28 $ 62,419.28 ADD: Excess of Revenue over Expenditures ( P__...... "\... -'- "D 'J \ ~ $ $ $ J , . At .. ~ .. J ~ . ;i;l .. J ~ " , ~ J J ~ I l t t ~ .l \ .. EXHIBIT B-1 .. .. TOWN OF WAPPINGER GENERAL FUND BALANCE SHEET DECEMBER 31, 1911 ... ... ASSETS '- .. Town Outside Total Townwide Village Highway Cash in Bank and on Hand $180,128.10 $ 11,641.52 $114,412.52 $ 48,068.66 Accounts Receivable 3,986.00 3,986.00 Due from Other Funds 90,416.30 90,416.30 TOTAL ASSETS $214,591. 00 $112,109.82 $114,412.52 $ 48,068.66 ... .. ... ... LIABILITIES, RESERVES AND FUND BALANCE Due to Other Governments $ 9,344.50 $ 9,344.50 $ $ Due to Other Funds 42 ,491. 09 42 ,491. 09 TOTAL LIABILITIES $ 51,835.59 $ 9,344.50 $ 42 ,491. 09 $ Reserve for Encumbrances $ 41,953.12 $ 21,312.41 $ 5,015.88 $ 15,565.43 Fund Balance: Appropriated - Ensuing Year's Budget $ 96,100.00 '$ 59,000.00 $ 13,000.00 $ 24,100.00 Unappropriated 84,101. 69 22,392.91 53,905.55 1,803.23 TOTAL FUND BALANCE (Exhibit B-2) $180,801.69 $ 81,392.91 $ 66,905.55 $ 32,503.23 TOTAL LIABILITIES, RESERVES AND FUND BALANCE $214,591. 00 $112,109.82 $114,412.52 $ 48,068.66 '\f ... .. .. .. .. - ... .. tilt ,. .. 1 g>eIk~' ad !/edoN ~ {#J~ ~~ "II_~ ... EXHIBIT B-2 TOWN OF WAPPINGER GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE FOR YEAR ENDING DECEMBER 31, 1977 Tot al Townwide Town Outside Village Highway FUND BALANCE JANUARY 1, 1977 $245,219.40 $122,125.84 $ 60,674.28 $ 62.419.28 ADD: Excess of Revenue over Expenditures (Exhibit B-3) Close Reserve for Encumbrances at December 31. 1975 Overstatement of Accounts Payable at December 31, 1976 To Close Reserve For Bonded Debt TOTAL ADDITIONS TOTAL DEDUCT: Excess of Expenditures over Revenue (Exhibit B-3) Understatement of Accounts Payable December 31. 1976 TOTAL DEDUCTIONS FUND BALANCE - DECEMBER 31, 1977 $ $ $ $ 1.778.66 278.66 1,500.00 3.189.24 1,861.19 1,328.05 16 . 331. 28 16,331. 28 $ 21,299.18 $ 2,139.85 $ 19,159.33 $ $266,518.58 $124,265.69 $ 79,833.61 $ 62,419.2~_ $ 82,006.10 $ 42,872.78 $ 12,928.06 $ 26,205.26 3,710.79 3,710.79 $ 85,716.89 $ 42,872.78 $ 12,928.06 $ 29,916.05 $180,801.69 $ 81,392.91 $ 66,905.55 $ 32,503.23 8 gJeIJ,r""o tUJa !/edoN ~ 9",,", ~'__h..~ J" J' .. , " ffI , ., .. ." I J '" " J ~ " " , 1 J J J J J J J J j ~ .. EXHIBIT B-3 .. .. TOWN OF WAPPINGER GENERAL FUND STATEMENT OF REVENUE AND EXPENDITURES FOR YEAR ENDED DECEMBER 31, 1977 ., .. Total Townwide Town Outside Village Highway ( Exhibit B-4) ... REVENUE: Real Property Taxes $ 879,680.02 $272,589.03 $135,936.31 $471,154.68 Penalties and Interest on Delinquent Real Property Taxes 20,091. 01 20,091. 01 Services for Other Governments 1,913.14 1,913.14 Intergovernmental Revenue 368,444.96 151,792.28 211,032.18 5,620.50 Licenses and Permits 3,469.63 3,469.63 Charges for Services 29,577.23 7,586.80 21,990.43 Fines and Forfeitures 14,959.00 14,959.00 Transfers from Other Funds 3,899.00 3,899.00 Miscellaneous 812.76 812.76 Interest and Earnings 13,088.39 3,162.96 2,803.98 7 ,121. 45 TOTAL REVENUES $1,335,935.14 $480,275.61 $371,762.90 $483,896.63 EXPENDITURES: Personal Services $ 482,795.25 $222,384.89 $ 47,339.63 $213,070.73 Capi tal Outlay 12,462.60 8,799.12 63.48 3,600.00 Contractual Expenses 557,686.41 210,788.47 67,196.75 279,701.19 Employee Benefits 155,862.56 66,675.91 89,186.65 Transfer to Other Funds 209,134.42 14,500.00 180,904.45 13,729.97 TOTAL EXPENDITURES $1 ,417 ,941. 24 $523,148.39 $384,690.96 $510,101. 89 EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES $ (82,006.10) $(42,872.78) $(12,928.06) $(26,205.26) .. ... .. .. .. .. '{f, lit .. .. .. .. .. f ... tilt .. 9 fJJ.&".uu' and y~ ~.9'.Ik ~ .II_~ Iio.. REVENUE: Real Property Taxes State Aid Interest Earned TOTAL REVENUE TOWN OF WAPPINGER GENERAL FUND HIGHWAY STATEMENT OF REVENUE AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1977 Tot al $471,154.68 5,620.50 7,121. 45 $483,896.63 EXPENDITURES: Personal Services Capital Outlay Contractual Expenditures Employee Benefits Transfer to Other Funds TOTAL EXPENDITURES $213,070.73 3,600.00 279,701.19 13,729.97 $510,101.89 EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES $(26,205.26) 10 {JJe&~' turd YedoH ~ f#J"Ik ..~ __It EXHIBIT B-4 J:' ...:;- "'* '" 4 .. ,I " J ., . 1 rI J fl -I I , ~ J J J" : '~ , J . . , f J ~ J .. EXHIBIT B-4 .. ... ... .. II. Repairs and Snow and Improvements Bridges Machinery Miscellaneous $362,095.61 $4,000.33 $54,454.53 $50,604.21 5,620.50 1,904.39 34.98 2,183.93 2,998.15 $369,620.50 $4,035.31 $56,638.46 $53,602.36 $174,250.26 $1,060.00 $n,503.12 $26,257.35 3,600.00 214,820.32 2 , 9 38 . 93 24,199.62 37,742.32 13,729.97 $389,070.58 $3,998.93 $53,032.71 $63,999.67 $(19,450.08) $ 36.38 $ 3,605.75 $(10,397.31) ... ... till ... ... - ... .. .. .. - .. .. II. .. 11 {JJdJ,,,,mi awl !7~ ~ ~~ ~ Mllt_/9 .... TOWN OF WAPPINGER ENTERPRISE FUND SEWER DISTRICTS BALANCE SHEET DECEMBER 31, 1977 ASSETS CURRENT ASSETS Cash in Bank Accounts Receivable Due from Other Funds TOTAL CURRENT ASSETS FIXED ASSETS Utility Plant in Service Less: Accumulated Depreciation TOTAL FIXED ASSETS TOTAL ASSETS LIABILITIES, RESERVES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable Due to Other Funds Bond Anticipation Notes (Current Portion) Serial Bonds Payable (Current Portion) TOTAL CURRENT LIABILITIES OTHER LIABILITIES Bond Anticipation Notes Payable Serial Bonds Payable TOTAL OTHER LIABILITIES TOTAL LIABILITIES Reserve for Bonded Debt FUND BALANCE Appropriated - Ensuing Year's Budget Unappropriated TOTAL FUND BALANCE (Exhibit C-2) TOTAL LIABILITIES, RESERVES AND FUND BALANCE 12 Total $ 43,755.03 18,357.93 2,666.16 $ 64,779.12 $8,442,176.40 1,493,603.30 $6,948,573.10 $7,013,352.22 $ 34,615.22 6,700.98 7,000.00 123,000.00 $ 171 , 316.20 $ 193,000.00 3,472,800.00 $3,665,800.00 $3,837,116.20 $ 22,586.26 $ 27,418.00 3,126,231. 76 $3,153,649.76 $7,013,352.22 [JJ.&,IlMu' ad y~ ~ fIJ.Ik ~ ...w6 EXHIBIT C-l ~ .. ,~ fill Mid Point Park . filii , '" J J $ 4,303.46 1,953.60 $ 6,257.06 ,if " $712,574.76 53,443.11 $659,131. 65 $665,388.71 ,..~ ~':; ..;' J J , j J ;.I J J j , 14 . j I $ 444.98 120.00 $ 564.98 $ $ $ 564.98 $ $ 2,000.00 662,823.73 $664,823.73 $665,388.71 . . .. EXHIBIT C-l ., ... .. '- Wappinger Sewer Fleetwood Rockingham Wildwood Improvement Area #1 $ 353.97 $ 19,122.63 $ 19,106.41 $ 868.56 3,309.94 7,356.40 2,319.90 3,418.09 1,000.00 152.05 1,514.11 $ 3,663.91 $ 27,479.03 $ 21,578.36 $ 5,800.76 $151,271. 35 $2,967,336.54 $368,318.90 $4,242,674.85 32,145.13 852,872.02 27,537.71 527,605.33 $119,126.22 $2,114,464.52 $340,781.19 $3,715,069.52 $122,790.13 $2,141,943.55 $362,359.55 $3,720,870.28 .. .. .. .. It. II. .. $ 12,517.69 $ 2,085.06 $ 868.56 $ 18,698.93 6,580.98 7,000.00 3,200.00 13,000.00 106,800.00 $ 22,298.67 $ 2,085.06 $ 13,868.56 $ 132,498.93 $ $ $ $ 193,000.00 82,800.00 357,000.00 3,033,000.00 $ 82,800.00 $ $357,000.00 $3,226,000.00 $105,098.67 $ 2,085.06 $370,868.56 $3,358,498.93 $ 1,456.02 $ $ $ 21,130.24 $ $ 17,000.00 $ 8,418.00 $ 16,235.44 2,122,858.49 (16,927.01) 341 ,241.11 $ 16,235.44 $2,139,858.49 $( 8,509.01) $ 341,241.11 $122,790.13 $2,141,943.55 $362,359.55 $3,720,870.28 ~ .. iw .. .. ... ., ... .. .. 13 g;~r; fL4U! !/~ ~ UJ.I&c ~ _...0 '- EXHIBIT C-2 .~ f/J 4 '" .4 ,~~ '" TOWN OF WAPPINGER ENTERPRISE FUND SEWER DISTRICTS STATEMENT OF CHANGES IN FUND BALANCE FOR YEAR ENDED DECEMBER 31, 1977 FUND BALANCE JANUARY 1, 1977 ADD: Excess of Revenue over Expenditures Additions to Plant Financed By Other Funds Liabilities Paid from Appropriations Close Reserve for Encumbrances at December 31, 1975 TOTAL ADDITIONS TOTAL DEDUCT: Excess of Expenditures over Revenue (Exhibit C-3) Obligations Issued by Other Funds Understatement of Accounts Payable at December 31, 1976 To Record Depreciation from Start-Up Date to December 31, 1976 Transfer to Reserve for Bonded Debt TOTAL DEDUCTIONS FUND BALANCE DECEMBER 31, 1977 Total Mid Point Park j J j J ~ ~ j '. . l J J J J j J , ~ ~ i $4,803,975.44 $719,735.18 $ $ 29,013.58 79,000.00 15.10 $ 108,028.68 $4,912,004.12 $ $719,735.18 $ 249,564.12 $ 18,926.81 200,000.00 3,654.98 355.90 1,282,549.00 35,628.74 22,586.26 $1,758,354.36 $ 54,911.45 $3,153,649.76 $664,823.73 14 g>.u,,,wu' fMki g~ ~ fJ'"IJe d ."1/_" .. EXHIBIT C-2 .. .... .. ... Fleetwood Rockingham Wildwood Wappinger Sewer Improvement Area #1 .. $53,253.95 $3,000,107.97 $11,273.33 $1,019,605.01 .. ,f t .. $ $ $ $ 1,724.30 27,289.28 3,200.00 30,000.00 45,800.00 10.10 5.00 $ 3,200.00 $ 10.10 $31,724.30 $ 73,094.28 $56,453.95 $3,000,118.07 $42,997.63 $1,092,699.29 - .. '4 ... .. ... $ 9,545.72 $ 80,960.63 $33,022.03 $ 107,108.93 200,000.00 853.42 610.34 154.87 1,680.45 28,363.35 778,688.61 18,329.74 421,538.56 1,456.02 21,130.24 $40,218.51 $ 860,259.58 $51,506.64 $ 751,458.18 $16,235.44 $2,139,858.49 $(8,509.01) $ 341,241.11 ... .. .. .~.. ... ,. L. ~ a. 15 .. ~ ... g>,&~. tMUi !l~ ~ g;~ ~ -~~ TOWN OF WAPPINGER ENTERPRISE FUND SEWER DISTRICTS STATEMENT OF REVENUE AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1977 Total REVENUE: Benefit Assessments Sewer Rents Penalties and Interest on Delinquent Sewer Rents Hook-Up Fees Interest and Earning Transfers from Other Funds Rent Income State Aid $360,318.23 206,312.29 2,099.70 5,325.00 9,662.16 1,465.04 4,250.00 4,539.82 $593,972.24 TOTAL REVENUE EXPENDITURES: Personal Services Contractual Expenses Employee Benefits Debt Principal Debt Interest Transfers to Other Funds $101 ,161. 46 146,598.46 426.89 79,000.00 303,570.95 1,724.30 $632,482.06 TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES BEFORE DEPRECIATION $(38,509.82) DEPRECIATION 211,054.30 EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES $(249,564.12) 16 gJe&r"'; rHUi y~ ~ fJ'.Ike ..~ .IIIM6 EXHIBIT C-3 :, wi ,t .. ,~ .. Mid Point Park J J J J :S :f II :I <4 .. J J J"" :_:r' '. " ~ j ,. " ~ , J ~ $ 23,012.40 222.00 428.89 2,653.33 $26,316.62 $10,202.86 17,168.08 58.12 $27,429.06 $(1,112.44) 17,814.37 $(18,926.81) EXHIBIT C-3 ,. ,. ... .. '- ~' Wappinger Sewer Fleetwood Rockingham Wildwood Improvement Area #1 $ 8,705.00 $ $ 34,765.00 $ 316,848.23 24,668.98 72,909.34 46,762.50 38,959.07 105.72 519.60 858.40 393.98 3,625.00 1,700.00 202.40 1,960.30 1,337.33 5,733.24 1,465.04 4,250.00 1,886.49 $35,147.14 $ 79,014.24 $ 85,609.72 $ 367,884.52 $13,405.08 $ 35,245.28 $ 14,402.92 $ 27,905.32 19,879.74 50,388.64 16,277.19 42,884.81 46.26 157.54 104.05 60.92 3,200.00 30,000.00 45,800.00 4,380.00 46,915.32 252,275.63 1,724.30 $40,911.08 $ 85,791. 46 $109,423.78 $ 368,926.68 t. III .. '" ~ .. ... iI lilt .. ... .. 9,207.97 $ (1,042.16) 106,066.77 ... $(5,763.94) 3,781. 78 $ (6, 777 . 22 ) 74,183.41 $(23,814.06) ... $(9,545.72) $(80,960.63) $(33,022.03) $(107,108.93) .. ... ~ .. .. 17 g>~. and g~ ~ g>"Ik d ..r-I' iIw Total Oakwood $ 34,416.01 $ 3,693.59 11,717.22 1,782.00 159,996.83 162.84 $ 206,130.06 $ 5,638.43 $3,812,n6.43 $45,411.12 412,312.24 11,352.80 $3,399,804.19 $34,058.32 $3,605,934.25 $39,696.75 TOWN OF WAPPINGER ENTERPRISE FUND WATER DISTRICTS BALANCE SHEET DECEMBER 31, 1977 ASSETS CURRENT ASSETS Cash in Bank Accounts Receivable Due from Other Funds TOTAL CURRENT ASSETS FIXED ASSETS Utility Plant in Service Less: Accumulated Depreciation TOTAL FIXED ASSETS TOTAL ASSETS LIABILITIES, RESERVES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable Due to Other Funds Bond Anticipation Notes Payable (current portion) Serial Bonds Payable (current portion) $ 5,931. 40 73,633.33 50,500.00 103,200.00 $ 233,264.73 TOTAL CURRENT LIABILITIES OTHER LIABILITIES Bond Anticipation Notes Payable Serial Bonds Payable $ 370,800.00 2,979,600.00 $3,350,400.00 $3,583,664.73 $ 124,482.79 TOTAL OTHER LIABILITIES TOTAL LIABILITIES Reserve for Bonded Debt FUND BALANCE Appropriated - Ensuing Year's Budget Unappropriated $ 6,653.00 (108,866.27) $ (102,213.27) TOTAL FUND BALANCE (Exhibit D-2) TOTAL LIABILITIES, RESERVES AND FUND BALANCE $3,605,934.25 18 g;-",~. and y~ ~ U'~ ..~ ...... EXHIBIT D-1 : . fill ," 4 j j J i~ . S I fI ~ ~ j J J J . . l ~ ~ ~ j $ 189.75 1,200.00 $ 1,389.75 $30,000.00 $30,000.00 $31,389.75 $ 2,000.00 $ 1,653.00 4,654.00 $ 6,307.00 $39,696.75 TOWN OF WAPPINGER ENTERPRISE FUND WATER DISTRICTS STATEMENT OF CHANGES IN FUND BALANCE FOR YEAR ENDED DECEMBER 31. 1977 Total FUND BALANCE JANUARY 1, 1977 $326,018.29 ADD: Excess of Revenue over Expenditures (Exhibit D-3) Additions to Plant Financed By Other Funds Liabilities Paid from Appropriations Close Reserve for Encumbrances at December 31, 1975 $127,174.80 273,914.94 77,900.00 30.00 TOTAL ADDITIONS $479.019.74 $805,038.03 TOTAL DEDUCT: Excess of Expenditures over Revenues (Exhibit D-3) Obligations Issued by Other Funds Understatement of Accounts Payable at December 31, 1976 To Record Depreciation from Start-Up Date to December 31, 1976 Transfer to Reserve for Bonded Debt $ 97,001. 31 360,000.00 2,604.63 323,162.57 124,482.79 $907,251. 30 $(102.213.27) TOTAL DEDUCTIONS FUND BALANCE DECEMBER 31, 1977 20 g>e&~. and Yet/ON ~,9l~ ~ .rft-I' EXHIBIT D-2 s 4 III '. .. Oakwood J J J J ! I j ~ J J J J J J ~ tiI $12,140.77 $ 5,492.01 1,200.00 $ 6,692.01 $18,832.78 $ 308.26 10,217.52 2,000.00 $12,525.78 $ 6,307.00 ~ : J .~ ~ . EXHIBIT D-2 . .. .. .. Fleetwood Tall Trees Central Wappinger Ardmore ... $42,469.55 $ 4,419.63 $266,988.34 $ III $ $ $ 2,000.00 3,700.00 27,785.49 71,000.00 $121,682.79 246,129.45 .. .. 30.00 '~ $ 2,000.00 $44,469.55 $ 3,700.00 $ 8,119.63 $ 98,815.49 $365,803.83 $367,812.24 $367,812.24 .. ... IIr $ 691.69 $10 ~ 021. 83 $ 86,287.79 350.12 178.20 1,768.05 18,039.90 3,060.52 291,844.63 800.00 $19,881.71 $13,260.55 $379,900.47 $24,587.84 $(5,140.92) $(14,096.64) $ 360,000.00 ... .. 121,682.79 $481,682.79 $(113,870.55) .. .. !; - .. .. i .. ! .. 21 f#Je&ruu" and!/~ ~ g;"I& L~ nt../9 .. EXHIBIT D-3 ~ j TOWN OF WAPPINGER ENTERPRISE FUND STATEMENT OF REVENUE AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1977 .. '" EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES BEFORE DEPRECIATION $119,323.16 89,149.67 $ 6,627.29 1,135.28 j . . J :S J , ~ II . 4 j ~ J j J ~ , ~ ~ ~ TOTAL EXPENDITURES Total Oakwood $316,338.85 $ 4,820.00 126,759.52 9,762.00 1,076.27 117.00 2,175.00 5,901.93 328.42 125,600.88 2,857.48 $577,852.45 $17,884.90 $ 34,200.18 $ 2,913.31 88,683.31 5,512.34 321. 77 11.96 77,900.00 1,200.00 257,424.03 1,620.00 $458,529.29 $11,257.61 REVENUE: Benefit Assessments Water Sales Penalties and Interest on Delinquent Water Sales Hook-up Fees Interest and Earnings Transfers from Other Funds TOTAL REVENUE EXPENDITURES: Personal Services Contractual Expenses Employee Benefits Debt Principal Debt Interest DEPRECIATION EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES $ 30,173.49 $ 5,492.01 22 g>-&~. and gd~ ~ ~~ ~ ._,-"It - EXHIBIT D-3 .. .. .. ... Central Fleetwood Tall Trees Wappinger $ 5,580.00 $11,414.50 $294,524.35 9,816.13 107,181.39 46.79 155.40 757.08 2,175.00 218.28 40.91 5 , 314 . 32 1,060.61 $16,721.81 $11,610.81 $409,952.14 $ 2,309.03 $ 4,302.56 $ 24,675.28 7,897.89 7,050.36 68,222.72 21.26 11.96 276.59 2,000.00 3,700.00 71,000.00 2,780.00 5,037.50 247,986.53 $15,008.18 $20,102.38 $412 ,161.12 Ardmore IIr $ '- ... III' 121,682.79 $121,682.79 ... $ .. .. .. Illr 1,713.63 2,405.32 $(8,491.57) 1,530.26 $ (2,208.98) 84,078.81 $121,682.79 .. $ (691.69) $(10,021.83) $(86,287.79) $121,682.79 ... ... till ... ~ lit ~ '- 23 fJJe&?,,""' a4UI f/edoN ~ UJ"Ik ~ ."..0 .. j EXHIBIT E-l TOWN OF WAPPINGER SPECIAL REVENUE FUND BALANCE SHEET DECEMBER 31, 1911 .. tI fI .. Federal Federal Revenue Anti- Total Sharing Recession ASSETS Cash in Bank $186,058.96 $86,310.09 $5,863.40 Accounts Receivable 22,255.11 TOTAL ASSETS $208,314.13 $86,310.09 $5,863.40 2 i J . . 24 fj'J-t/,pHu' aIUi !/~ ~~.Ik ~ 1l1"""~ j I j - i J ~ j J J l . . ~ ~ J LIABILITIES AND FUND BALANCE Accounts Payable $ 10,861.60 $ 30.10 $ 518.50 Due to Other Funds 3,899.00 3,899.00 TOTAL LIABILITIES $ 14,160.60 $ 30.10 $4,411.50 FUND BALANCE (Exhibit E-2) 193,553.53 86,339.99 1,385.90 TOTAL LIABILITIES AND FUND BALANCE $208,314.13 $86,310.09 $5,863.40 .. EXHIBIT E-l .. ., .. .. New York State Parklands Economic Anti- Street Downstream Deposit Patrolmen's Development Recession Lighting Draina;ge Trust Uniforms Administration $21,638.75 $1,233.29 $53,849.69 $16,987.04 $116.70 $ 22,255.17 $21,638.75 $1,233.29 $53,849.69 $16,987.04 $116.70 $22,255.17 ... .. till .. .. $ $1,116.19 $ $ 97 .50 $ 9,039.31 .. $ 21,638.75 $1,116.19 $ 117.10 53,849.69 $ $ 97.50 16,987.04 19.20 $ 9,039.31 13,215.86 .. $21,638.75 $1,233.29 $53,849.69 $16,987.04 $116.70 $22,255.17 ... .. .. tar .. till y; .. f .. i .. 25 fJJe&rMi and g;a{)I<P ~?.Ik .w:., _&u.A '- EXHIBIT E-2 i wi 4 tIi ," .. TOWN OF WAPPINGER SPECIAL REVENUE FUND STATEMENT OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1977 26 (JJJI,ri and g~~ ~ f#J.Ik d,. .II~' j ~ J . . ~ J ~iI ., ~ i J J j J J J J j ~ ,'. I Federal Federal Revenue Anti- Total Sharing Recession FUND BALANCE JANUARY 1, 1977 $ 95,493.87 $31,198.98 $2,353.97 ADD: Excess of Revenue over Expenditures (Exhibit E-3) 102,094.92 57,108.86 TOTAL $197,588.79 $88,307.84 $2,353.97 DEDUCT: Excess of Expenditures over Revenue (Exhibit E-3) 2,067.41 968.07 Understatement of Accounts Payable at December 31, 1976 1,967.85 1,967.85 FUND BALANCE DECEMBER 31, 1977 $193,553.53 $86,339.99 $1,385.90 III EXHIBIT E--2 .. tit .. ... New York State Parklands Economic Anti- Street Downstream Deposit Patrolmen's Development Recession Lighting Drainage Trust Uniforms Administration $ $1,216.44 $44,962.46 $15,162.02 $ $ ... WI .. 21,638.75 8,887.23 1,225.02 19.20 13,215.86 $13,215.86 $21,638.75 $1,216.44 $53,849.69 $16,987.04 $19.20 .. .. 1,099.34 till $21,638.75 $ 117.10 $53,849.69 $16,987.04 $19.20 $13,215.86 till ... .. II. tilt .. .. .. .. j; III 27 E}JeI/,pini and g;a~ ~ f#J~ ~ ~",-" .. EXHIBIT E-3 ,I if ,~ 4 28 g>e&~' ana g~ ~ g;~ ,,~ !lilt-it :J j ~ .i j S ~ j ~ ~ j II ~ ~ J ~. II , j , j TOWN OF WAPPINGER SPECIAL REVENUE FUND STATEMENT OF REVENUE AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1977 Federal Federal Revenue Anti- Total Sharing Recession REVENUE: Federal Aid $167,520.17 $132,785.00 $12,480.00 New York State Aid 21,442.00 Benefit Assessments 13,957.00 Fees 21,966.92 Contributions 460.00 Interest and Earnings 7,999.41 3,635.79 259.43 TOTAL REVENUE $233,345.50 $136,420.79 $12,739.43 EXPENDITURES: Personal Services $ 5,425.88 $ 5,425.88 $ Capi tal Outlay 60,851. 57 48,804.96 Contractual Expenses 63,141.54 25,081. 09 9,808.50 Transfers to Other Funds 3,899.00 3,899.00 TOTAL EXPENDITURES $133,317.99 $ 79,311. 93 $13,707.50 EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES $100,027.51 $ 57,108.86 $ ( 968.07) till EXHIBIT E-3 tit .. IIIr tit New York Street State Lighting Parklands Economic Anti- (Exhibit Downstream Deposit Patrolmen's Development Recession E-4 ) Drainage Trust Uniforms Administration $ $ $ $ $ $22,255.17 21,442.00 13,957.00 19,025.47 2,941. 45 460.00 196.75 16.85 2,599.72 '1,290.87 $21,638.75 $13,973.85 $21,625.19 $4,232.32 $460.00 $22,255.17 $ $ $ $ $ $ 3,007.30 9,039.31 15,073.19 12,737.96 440.80 $15,073.19 $12,737.96 $3,007.30 $440.80 $ 9,039.31 $21,638.75 $(1,099.34)$ 8,887.23 $1,225.02 $ 19.20 $13,215.86 .. .. 11II .. .. .. 11II tit III till .. .. .. #: ... ~ .. ~ till 29 f1JJkf"*'u' and f/~ ~ f#J"jk ~ _1_19 III ,ill " EXHIBIT E-4 Total Hughsonville Chelsea Cameli REVENUE: Benefit Assessments $13,957.00 $ 9,674.12 $3,951.65 $331. 23 Interest and Earnings 16.85 11.43 4.80 .62 TOTAL REVENUE $13,973.85 $ 9,685.55 $3,956.45 $331. 85 EXPENDITURES: Contractual Expenses 15,073.19 10,459.16 4,252.72 361.31 EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES $(1,099.34) $ (773.61) $ (296.27) $(29.46) FUND BALANCE - January 1, 1977 1,216.44 825.51 346.37 44.56 FUND BALANCE - December 31, 1977 $ 117.10 $ 51.90 $ 50.10 $ 15.10 J j ". . ~ tI J ~ S ~ ~ ~ J J J ~ ~ j J J j I J TOWN OF WAPPINGER SPECIAL REVENUE FUND STREET LIGHTING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1977 30 g>.&".w' and y~ ~ UJ"Ik .>tt .ffAu.~ . EXHIBIT F-l .. .. TOWN OF WAPPINGER CAPITAL PROJECT FUND BALANCE SHEET DECEMBER 31, 1977 lIP .. ASSETS .. CASH IN BANK $411,670.61 III .. LIABILITIES AND FUND BALANCE III lIP Accounts Payable Retained Percentages, Contracts Payable Due to Other Funds $ 5,724.20 25,334.41 103,623.38 .. TOTAL LIABILITIES $134,681. 99 276,988.62 $411,670.61 FUND BALANCE (Exhibit F-2) .. TOTAL LIABILITIES AND FUND BALANCE .. . .. !IIIII .. .. .. .. .. 31 g>.u""Hu' and y~ ~ E1'~ ~rd. rn'~"~ ... EXHIBIT F-2 TOWN OF WAPPINGER CAPITAL PROJECTS FUND STATEMENT OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1977 F1ll1d F1ll1d Balance Balance January 1, Revenue Expenditures December 31, 1977 (Exhibit F-3) 1977 Storm Sewer Project $ 10,152.40 $ 1,081.16 $ $ 11,233.56 Sewer Improvement Area #1 (76,477.61) 200,722.47 (23,262.07) 100,982.79 Fleetwood Water District 1,060.55 .06 ( 1,060.61) -0- Fleetwood Sewer District 1,464.86 .18 ( 1,465.04) -0- Highway Equipment 617.57 32.18 649.75 Central Wappingers Water District 470.34 ) 83.81 (24,011.79) (24,398.32) Drainage Construction Project 95,049.00 3,678.44 1,929.92) 96,797.52 Town Building and Land Project 117,700.58 20,540.66 138,241. 24 Oakwood Water District 2,857.48 ( 2,857.48) -0- Wappingers Park Drainage Project (17,007.92) 110.00) (17,117.92) Sewer Improvement Area #2 (24,400.00) (24,400.00) Ardmore Water District 366,573.84 (366,573.84) -0- Sewer Improvement Area #3 ( 5,000.00) ( 5,000.00) Wildwood Sewer District 1,724.30 ( 1,724.30) -0- TOTAL $110,546.57 $594,437.10 $(427,995.05) $276,988.62 32 g>-",ruu" aIUi !/~ ~ (#'~ .wI, .,,... j J J j ~ J j S j ~ ~ j .J J ~ ~ j j " j j ~ J 1M! .. ., TOWN OF WAPPINGER CAPITAL PROJECTS FUND STATEMENT OF REVENUE AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1977 .. .. .. REVENUE: Transfers from Other Funds: General Fund - Townwide Wildwood Sewer District Interest and Earnings Obligations Issued: Bond Anticipation Notes '- ... TOTAL REVENUE \ .. EXPENDITURES: Transfers to Other Funds: Fleetwood Sewer District Fleetwood Water District Oakwood Water District Ardmore Water District Capital Projects .. .. TOTAL EXPENDITURES .. EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES .. iii .. III .. .. .. .. .. 33 gJe&rw' and !/edo- ~ E?'.Ik ~ .11'-.6 .. EXHIBIT F-3 $ 14,500.00 1,724.30 18,212.80 560,000.00 $594,437.10 $ 1,465.04 1,060.61 2,857.48 121,682.79 300,929.13 $427,995.05 $164,717.75 CASH IN BANK (Exhibit G-2) Payroll Withholding Payable Road Bonds Returnable Due Town of Wappinger Engineer Due to Other Funds Due to Dennis Truett TOTAL LIABILITIES TOWN OF WAPPINGER TRUST AND AGENCY FUND BALANCE SHEET DECEMBER 31, 1977 ASSETS LIABILITIES 34 fJJe&rine' and ~doN ~ g;"'k d:e_Ia..1d EXHIBIT G-l J J J J JI . J i 1 , J - j J J J .~ wi J $28,376.85 $ 7,011.25 10,791. 51 7,244.32 1,329.77 2,000.00 $28,376.85 q I J J '1 II "~,; . ill .. ... TOWN OF WAPPINGER TRUST AND AGENCY FUND STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN ASSETS FOR THE YEAR ENDED DECEMBER 31, 1977 .. lit .. REVENUE: Real Property Taxes School District Taxes Water and Sewer Rents Penalties and Interest on Delinquent Real Property Taxes Penalties and Interest on Delinquent Water and Sewer Rents Petty Cash Advance Consolidated Payroll Payroll Withholding Guaranty and Bid Deposits Street Opening Deposits Park Land Deposits Sub-Division Inspection Fees Private Inspection Fees Drainage Funds Miscellaneous '- ... ... .. .. .. TOTAL REVENUE (FORWARDED ) .. lit .. III - .. .. lit II 35 gJelkrini ana gdO#Ce ~ 9,,1k d_&:u.ta .. EXHIBIT G-2 $3,775,520.33 4,201,200.37 314,411.16 20,091. 01 3,175.97 375.00 474,307.05 122,764.82 16,700.00 9,679.69 2,941.45 9,410.08 475.00 8,000.00 1,000.00 $8,960,051.93 TOWN OF WAPPINGER TRUST AND AGENCY FUND STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN ASSETS FOR THE YEAR ENDED DECEMBER 31, 1977 TOTAL REVENUE (FORWARDED) EXPENDITURES: Real Property Taxes Paid To: Supervisor, Town of Wappinger Dutchess County Commissioner of Finance Refunds to Taxpayers Bad Checks Not Redeposited School District Taxes Paid To: School District Refunds to Taxpayers Bad Checks Not Redeposited Water and Sewer Rents Penalties and Interest on Delinquent Real Property Taxes Penalties and Interest on Delinquent Water and Sewer Rents Petty Cash Returned Consolidated Payroll Payroll Withholding Guaranty and Bid Deposits Street Opening Deposits Park Land Deposits Sub-Division Inspection Fees Drainage Funds Miscellaneous TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES TOTAL ASSETS - JANUARY 1, 1977 TOTAL ASSETS - DECEMBER 31, 1977 36 fJJeIIe?,.Hu" and !/edo,.e ~ g>"/Ge d--t-/d EXHIBIT G-2 (continued) J/ :} JI II J wi ,j II J;;" ,... .~ J ~ J j J J J J J J $8,960,051. 93 $1,631,128.42 2,138,131. 79 2,275.89 3,984.23 4,195,750.00 4,158.36 1,292.01 314,411.16 20,091.01 3,175.97 375.00 474,833.98 131,228.75 16,700.00 8,302.90 2,941.45 11,038.18 6,000.00 1,809.37 $8,967,628.47 $ (7,576.54) 35,953.39 $ 28,376.85 .~ .. ~ . ~ I ;%1 . .. .. .. TOWN OF WAPPINGER STATEMENT OF GENERAL FIXED ASSETS DECEMBER 31, 1977 ... ... ... GENERAL FIXED ASSETS: Land Recreation Land Buildings Improvements other than Buildings Machinery and Equipment Work in Process - Sewer Improvement Area #2 Work in Process - Sewer Improvement Area #3 -. .. TOTAL GENERAL FIXED ASSETS .. .. INVESTMENT IN GENERAL FIXED ASSETS FROM: General Obligation Bonds Federal Revenue Sharing Fund General Fund Revenues Gifts ... TOTAL INVESTMENT IN GENERAL FIXED ASSETS .. .. - .. ... - .. .,.. .. ... 37 g; eIk?/lini and !l:t!o_ 'tf"",~ 9.1/ie d__'-Id tit EXHIBIT H-l $ 165,234.54 541,537.05 121,224.31 1,517,417.10 114,874.83 172,513.42 5,000.00 $2,637,801.25 $1,538,199.43 284,934.17 116,137.90 698,529.75 $2,637,801.25 Cash in Bank Provision to be made in Future Budgets for Capital Indebtedness Less: Interest Payable to Maturity on Bonds TOTAL ASSETS Serial Bonds Payable Due to Other Funds TOTAL LIABILITIES TOWN OF WAPPINGER DEBT SERVICE FUND BALANCE SHEET DECEMBER 31, 1977 ASSETS $2,772,842.37 1,087,442.37 LIABILITIES 38 f1J~' and !/'~ ~ g'J~ ..~ .rf~A EXHIBIT 1-1 $ 21,461.74 1,685,400.00 $1,706,861. 74 $1,685,400.00 21,461.74 $1,706,861. 74 J J" ";:0' , .<.' . . J ~ >. II 4 , - ~ ~ f . J I J .f ~- 4 II ~ ~" .. J I . .. - .. TOWN OF WAPPINGER DEBT SERVICE FUND STATEMENT OF REVENUE AND EXPENDITURES FOR THE YEAR ENDED DECEMBER 31, 1977 .. .. REVENUE: Transfers from Other Funds: Highway Fund General Fund - Town Outside Village Serial Bonds Issued $ 13,729.97 180,904.45 .. .. TOTAL REVENUE .. EXPENDITURES: Debt SerVice - Principal Debt SerVice - Interest Contractual Expenses $498,800.00 95,825.08 9.34 .. TOTAL EXPENDITURES . EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES r 39 g;""pini ami !7~ ~ ~"'~ ~ .fln6 EXHIBIT I-2 $194,634.42 400,000.00 $594,634.42 594,634.42 $ -0- JI , J J J J J j ~ iii ~ Ii