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1975-12-31 I I.. , .. l I.. ~ .. .. .. ~ ill August 24.) 1976 L M; ... '{:', .. fl iI. II L. .. L L f, L if ~ II TOWN OF WAPPINGER AUDIT REFORT DECEMBER 31, 1975 " .. {JJeIf,ru-i and f/~ ~ 9'~ ~ 1 f1~"(,< l .. RECEIVED SEP 3 1976 ELAINE H. SNOWDEN J J J J j J J J J J J J J J J j J J J J l. .. .. ... TOWN OF WAPPINGER TABLE OF CONTENTS DECEMBER 31, 1975 Accountants' Report .. EXHIBIT A-I y, .. EXHIBIT A-2 EXHIBIT B-1 ... EXHIBIT B-2 ~ ... EXHIBIT B-3 EXHIBIT B-4 r.. ... EXHIBIT B-5 EXHIBIT B-6 't, L. .. EXHIBIT B-7 EXHIBIT B-8 L EXHIBIT C-l EXHIBIT C-2 .. EXHIBIT C-3 ~ EXHIBIT c-4 EXHIBIT C-5 L. Balance Sheet - All Funds Statement of Revenue, Expenditures and Encumbrances, and Changes in Fund Balance - All Funds Balance Sheet - General Fund Statement of Revenue, Expenditures and Encumbrances, and Changes in Fund Balance - General Fund Balance Sheet - General Fund - Townwide Statement of Revenue, Expenditures and Encumbrances, and Changes in Fund Balance - Townwide Balance Sheet - General Fund - Town Outside Village Statement of Revenue, Expenditures and Encumbrances, and Changes in Fund Balance - General Fund - Town Outside Village Balance Sheet - General Fund - Highway Statement of Revenue, Expenditures and Encumbrances, and Changes in Fund Balance, General Fund - Highway Balance Sheet - Enterprise Fund Analysis of Changes in Fund Balance - Enterprise Fund . . . . . Statement of Revenue, Expenditure and Encumbrances - Enterpr ise Fund Balance Sheet - Enterprise Fund - Sewer Districts Analysis of Changes in Fund Balance - Enterprise Fund - Sewer Districts EXHIBIT c-6 ..... Statement of Revenue, Expenditures and Encumbrances - Enterprise Fund - Sewer Districts li .. EXHIBIT C-7 ..... Balance Sheet - Enterprise Fund - Water Districts L. ~ ... fJJ+.".. (ueel y~ ~ 9'~ L~ .AU.' - 2 - j J J J J J J J J EXHIBIT c-8 ..... Analysis of Changes in Fund Balance - Enterprise Fund - Water Districts EXHIBIT C-9 ..... Statement of Revenue, Expenditures and Encumbrances - Enterprise Fund - Water Districts EXHIBIT D-l EXHIBIT D-2 Balance Sheet - Special Revenue Fund Statement of Revenue, Expenditures, Transfers and Changes in Fund Balance - Special Revenue Fund EXHIBIT D-3 ..... Balance Sheet - Special Revenue Fund - Federal Revenue Sharing EXHIBIT D-4 ..... Statement of Revenue, Expenditures, Transfers and Changes in Fund Balance - Special Revenue Fund - Federal Revenue Sharing EXHIBIT D-5 EXHIBIT D-6 EXHIBIT E-l EXHIBIT E-2 EXHIBIT F-l EXHIBIT F-2 EXHIBIT G EXHIBIT H COMMENTS Balance Sheet - Special Revenue Fund - Street Lighting Statement of Revenue, Expenditures and Changes in Fund Balance - Special Revenue Fund - Street Lighting Balance Sheet - Capital Projects Fund Statement of Revenue, Expenditures and Changes in Fund Balance - Capital Projects Fund f J Balance Sheet - Trust and Agency Fund Statement of Cash Re ce ipt s, Disbursement s and Change s in Cash Balances - Trust and Agency Fund J J J J J J J J . .. Statement of General Fixed Assets Statement of General Long Term Debt [JJeIk,mi and g~ ~ f:i'.I5e ~~ L. i. f!J~. aNI !/~ ce~~ g>,J/u ~ EXECUTfVE PARK - ONE OVEROCKER ROAD POUGHKIEIEJlSIIE, NIEW YORK 12803 .. e, 4-"!la.eoeo .. August 24, 1976 .. " ,j ... Town Board Town of Wappinger Wappinger Falls, New York 12590 i' ~ ill Gentlemen: t .. ~ We have examined the balance sheets of the various funds for the Town of Wappinger, New York, as of December 31, 1975, and the related statements of operations for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. it .. '- In our opinion, the accompanying balance sheets and related state- ments of operations present fairly the financial position of the various funds and balanced account groups for the Town of Wappinger, New York, at December 31, 1975, and the results of their operations for the year then ended, in conformity with generally accepted accounting principles applicable to governmental entities, except for opening fund balances which were not a part of our engagement and were not audited by us. I, .. Respectfully submitted, 2\, i. PELLEGRINI AND SEDORE, C. P. A. s II: pef.~~r Certified Public Accountant ... ;,~ ~ .. PGP / c s r,. ~ ill Enc : Statement s ~, .. j-, ~ ... J j J J J j J J j J J j j J j J J J J t i. i .. TOWN OF WAPPINGER ALL FUNDS BALANCE SHEET DECEMBER 31. 1975 ;~ .. ASSETS I.. ... CURRENT ASSETS Cash Certifiecates of Deposit Accounts Receivable TOl'AL CURRElf.r ASSETS ... I.. FIXED ASSETS General Fixed Assets utility Plants in Service TarAL FIXED ASSETS ... TarAL ASSETS i ... LIABILITIES AND FUND BALANCE " (t II. CURRENT LIABILITIES Encumbrances Payable Accounts Payable Retained Percentages Road Bonds Returnable Term Bonds Payable - Current Portion Serial Bonds Payable - Current Portion Bond Anticipation Notes Payable - Current Portion Revenue Anticipation Notes Payable - Current Portion Capital Notes Payable - Current Portion i.. ~ .. l TOTAL CURRENT LIABILITIES L LONG TERM LIABILITIES Serial Bonds Payable Bond Anticipation Notes Payable i g: .. TOTAL LONG TERM LIABILITIES L TOTAL LIABILITIES FUND BALANCE - December 31, 1975 t L. TOTAL LIABILITIES AND FUND BALANCE ~ ... L ~""',;",. tUUi g~ ~ ~ ..~ J 4.11I $ 434,000.03 610,140.20 24j 022. 72 $ 2,166,327.97 11,658.811.41 $ 9,979.05 47,312.60 360,494.91 154,318.00 15,000.00 92,000.00 174,000.00 23,000.00 14.125.00 $ 2,421,000.00 5.769.31~.00 EXHIBIT A-I $ 1,068,162.95 13.825.139.38 j14.893.302.33 $ 890,229.56 8.190,375.00 $ 9,080,604.56 5,812,697.77 j14.893.302.33 TOWN OF WAPPINGER STATEMENT OF REVENUE, E)(PENDITURES AND ENCUMBRANCES AND CHANGES IN FUND BALANCE - ALL FUNDS FOR THE YEAR ENDED DECEMBER 31, 1975 REVENUE : Real Property Taxes Sewer Service Charges Metered Water Sales Penalties and Interest on Delinquent Taxes and Charges Intergovernmental Revenue Interest Earned other Revenue $1,033,432.26 152,537.91 91,660.69 10,858.34 449,988.72 69,187.60 90,515.98 TOTAL REVENUE E)(PENDITURES AND ENCUMBRANCES: Personal Services Contractual Expenses Equipment Interest Refunds TOTAL E)(PENDITURES AND ENCUMBRANCES EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES AND ENCUMBRANCES FUND BALANCE - January 1, 1975 FUND BALANCE - December 31, 1975 {J>elkr''''; and YedON ~ g>.IJ~ ~"t-a $ 592,163.77 709,793.12 26,278.02 100,440.83 1,946.56 EXHIBIT A-2 J J J J J J j J j J j j j j .J J j j J $1,898,181. 50 1,430,622.30 $ 467,559.20 5,345,138.57 $5.812.697.77 0: .. }JXHIBIT B-1 .. I;; Ii. TOWN OF WAPPINGER GENERAL FUND BAIANCE SHEP:r DECEMBER 31. 1975 L. L. TOWN OUTSIDE TarAL TOWNWIDE VILLAGE HIGHWAY ASSETS Petty Cash $ 50.00 $ 50.00 $ $ Cash in Bank - Checking 27,,945.17 21,570.03 6,328.89 46.25 Cash in Bank - Savings 14b,406.43 64,936.62 31,953.34 43,516.47 Certificates of Deposit 148,000.00 80,4250.20 39,574.80 28,000.00 Accounts Receivable 4,867.50 4,602.00 265.50 Due From Other Funds 14,686.29 256.11 14,299.64 130.54 TarAL ASSETS j~35,955.39 j171 ,839. 96 j92,422.17 ~71.693.26 L i i. L L , II. LIABILITIES .AM) FUND BALANCE TarAL LIABILITIES $ 9,933.95 $ 2,510.40 $ 2,564.00 $ 4,859.55 28.597.60 21.137.63 7.459.97 $ 38,531. 55 $ 23,648.03 $10,023.97 $ 4,859.55 297.423.84 148,191. 93 82.398.20 66,833.71 j335.955.39 ffi171,839.96 ffi92,422.17 j71.693.26 L' Encumbrances Payable .. Accounts Payable L FUND BALANCE i 1Ia- TarAL LIABILITIES .AM) FUND BALANCE L. ft La L ;1: L l 1. {jJ~. tUUI y~ ~ 9'~ ~ ..1_' TOWN OF WAPPINGER GENERAL FUND STATEMENT OF REVENUE. EXPENDITURES AND ENCUMBRANCES AND CHANGES IN FUND BALANCE FOR THE nAR ENDED DECEMBER 31. 1975 REVENUE : Real Property Taxes Penalties and Interest on Delinquent Real Property Taxes Services for other Governments Intergovernmental Revenue State Aid Licenses and Permits Charges for Services Fines and Forfeitures Interest Earned Miscellaneous TOTAL REVENUE EXPENDITlffiES AND ENCUMBRANCES: Personal Services Contractual Expenses Eca.uipment Interest De bt Service TOTAL EXPENDITURES AND ENCUMBRANCES EXCESS (DEFICIENCY) OF REVENUE OVER EXPEND- ITURES AND ENCUMBRANCES FUND BALANCE - January 1, 1975 FUND BALANCE - December 31, 1975 TOWN OUTSIDE VILLAGE HIGHWAY TarAL TOWNWIDE $ 748,059.26 $227,444.00 9,294.00 9,294.00 2,210.20 313,954.83 141,770.86 5,207.25 3,644.68 3,644.68 35,033.00 19,091. 25 17,404.00 17,404~00 23,127.54 9,576.28 8.301.10 4.761.10 j1J166.235.86 ~32.986.17 $ 82,777.00 172,183.97 15, 941. 75 4,255.72 3.540.00 1278J698.44 $ 513,276.49 $238,736.37 $100,376.95 516,130.17 214,040.31 65,163.30 26,278.02 11,275.16 6.86 98,197.08 1,670.09 93,922.23 102J500.00 18.200.00 63.606.60 ~lJ256.381. 76 j483J921.93 ~23.075.94 EXHIBrr B-2 J J J J $437,838.26 J 2,210.20 J 5, 207. 25 J 9,295.54 J ~54.551.25 J $174,163. 17J....>.i' 236,926.56 i 14,996.00 2,604.76 20.693.40J ~49. 383.89,1 .. $ (90,145.90) 387.569.74 $ 297.423.84 $(50,935.76) $(44,377.50) $ 5,167.36.1 199.127.22 126.775.70 61.666.35 ~148.191.93 j 82.398.20 ~ 66.833.71.j g'J.&,,,,,,,. tuUI f/~ ~ f#J.I/u ~ .,.t., Ji' -.-,." J J ~ .wi '"'" i II. EXHIBIT B-3 &.. ~' .. Ii. I. TOWN OF WAPPINGER GENERAL PUN!) TOWNWIDE BALANCE SHEET DECEMBER 31. 1975 i II. i.. ASSETS ~ Petty Cash Cash in Bank - Checking Cash in Bank - Savings . Certificates of Deposit Accounts Receivable Due From other F'unds L TarAL ASSETS $ 50.00 21,570.03 64,936.62 80,425.20 4,602.00 256.11 $171.839.96 L L LIABILITIES AND CAPITAL I .. Encumbrances Payable Accounts Payable TarAL LIABILITIES $ 2,510.40 21,137.63 $ 23,648.03 148,191.93 ~171.839.96 ~ .. FUND BALANCE ~:' .. TOTAL LIABILITIES AND CAPITAL L L L L 1.. 9'-&,,;"; aM !I~ ~ 9&11. ~ n.... TOWN OF WAPPINGER GENERAL FUND TOWNWIDE STATEMENT OF REVENUE. EXPENDITURES AND ENCUMBRANCES AND CHANGES IN :FlJM) BALANCE FOR THE YEAR ENDED DECEMBER 31. 1915 REVENUE : Real Property Taxes Penalties and Interest on Delinquent Real Property Taxes Intergovernmental Revenue Licenses and Permits Charges for Services Fines and Forfeitures Interest Earned Miscellaneous TarAL REVENUE EXPENDITURES AND ENCUMBRANCES: Personal Services Contractual Expenses Equipment Interest Debt Service TarAL EXPENDITURES AND ENCUMBRANCES EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES AND ENCUMBRANCES FUND BALANCE - January 1, 1915 FUND BALANCE - December 31, 1915 [JJ~' and !I~ ~ g>~ ~ MI.II' EXHIBIT B-4 J J J J J J J J J J J J J J J J J . ,j II J $221,444.00 9,294.00 141,110.86 3,644.68 19,091. 25 11,404.00 9,576.28 4. 761. 10 j432,986.17 $238,736.37 214,040.31 11,275.16 1,670.09 18,200.00 ~83,921.93 $(50,935.76) 199,127.69 j148.191.93 t - EXHIBIT B-5 t i.. .. l '-- L TOWN OF WAPPINGER GENERAL FUND TOWN ot11'SIDE VILLAGE BALANCE SHEET DECEMBER 31. 1975 ? , .. L. ASSETS ." L. Cash in Bank - Checking Cash in Bank - Savings Certificates of Deposit Accounts Receivable Due From other Funds t J.. TarAL ASSETS $ 6,328.89 31,953.34 39,574.80 265. 50 14J229.64 $92.422.17 t; 1. t ... LIABILITIES AND CAPITAL . J.. TOTAL LIABILITIES $ 2,564.00 7J459.97 $10,023.97 82J398.20 j92.422.17 l Encumbrances Payable Accounts Payable FUND BALANCE 1 TarAL LIABILITIES AND CAPITAL :i. 1- 1. l. l @-"'/",,,,. tz.d y~ ~ ~..~ dr"j TOWN OF WAPPINGER GENERAL FUIID TOWN OUTSIDE VILLAGE STATEMENI' OF REVENUE. EXPENDITURES AND ENCUMBRANCES AND CHANGES IN FUND BAIANCE FOR THE YEAR ENDED DECEMBER 31. 1975 REVENUE : Real Property Taxes Intergovernmental Revenue Charges for Services Interest Earned Miscellaneous TOTAL REVENUE EXPENDITURES AND ENCUMBRANCES: Personal Services Contractual Expenses Equipment Interest De bt Service TOTAL EXPENDITURES AND ENCUMBRANCES EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES AND ENCUMBRANCES FUND BALANCE - January 1, 1975 FUND BALANCE - December 31, 1975 fJJ~' ad g~ON ~ ~ ~ n"". EXHIBrr B-6 J J ~ J J J J J J J .J J j J J J J j J $ 82,777.00 172,183.97 15,941. 75 4,255.72 3J540.00 j278J698.44 $100,376.95 65,163.30 6.86 93,922.23 63J606.60 ,:t323J075.94 $(44,377.50) 126J775.70 ~ 82.398.20 L L l L L L L L l L l L L l L L L L L ~ .I j J ~ J J j ~ ~ ~ j ~ ~ ~ t I I i ~ L L L L L L L L L L L L L L L L L L L ~ J J J j j J J j J J J J ~ i j ;1 II j ~ .. .. .. ... II. II. 1.. L t Ii. ~ l ~ '- l I L. La L L L EXHIBIT C-l TOWN OF WAPPINGER ENTERPRISE FU1ID ~BALANCE SHEET DECEMBER 31. 1975 TOTAL SEWER WATER ASSETS CURRENT ASSETS Cash in Bank - Checking $ 23,674.98 $ 20,779.54 $ 2,895.44 Cash in Bank - Savings 50,214.54 26,780.70 23,433.84 Certificates of Deposit 62,756.00 45,556.00 17,200.00 Accounts Receivable 19,155.22 11,445.25 7,709.97 Due From Other Funds 1J247.59 IJ247.59 TOTAL CURRENT ASSETS $ 157,048.33 $ 104,561.49 $ 52,486.84 utility Plant in Service IlJ658,811.41 8.172.349.80 3.486J461.61 TOTAL ASSETS $11,815.859.74 $8.276.911.29 $3.538.948.45 LIABILITIES AND FUND BALANCE LIABILITIES Encumbrances Payable Due to other Funds Due to General Fund Bond Anticipation Notes Payable Renveue Anticipation Notes Payable Serial Bonds Payable TOTAL LIABILITIES FUND BALANCE (EXHIBIT C-2) TOTAL LIABILITIES AND FUND BAIANCE $ 45.10 $ 15.10 $ 30.00 21,827.86 9,247.59 12,580.27 10,868.83 2,250.00 8,618.83 5,480,000.00 2,810,000.00 2,670,000.00 23,000.00 22,000.00 1,000.00 IJII0,000.00 628.800.00 481.200.00 $ 6,645,741. 79 $3,472,312.69 $3,173,429.10 5J170,117.95 4,804.598.60 365,519.35 ~11.815,859.74 ~8.276,911.29 j3.538.948.45 fJJ.&ruu' (1#,,1 S'ed'tIN ~ ~~ ~ aIlAr.. FUND BALANCE - January 1, 1975 $3,849,619.61 ADD : ~cess (Deficiency) of Revenue Over Expenditures and Encumbrances Additions to Utility Plant by Capital Projects Fund Reduction of Debt by Capital Projects Fund Transfer From Capital Projects Fund $4,515,473.10 EXHIBIT C -2 J J J J J J WATER J $ (665,853.49) J TOWN OF WAPPINGER ENTERPRISE FUND ANALYSIS OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1975 TOTAL SEWER FUND BALANCE - December 31, 1975 2,680,000.00 ~5,170,117.95 1,710,000.00 J J J j ~ 365,519.35 J .J J J J J J 970,000.00 TOI'AL BALANCE AND ADDITIONS 48,687.38 32,176.30 16,511. 08 3,160,416.02 1,508,543.80 1,651,872.22 739,200.00 425,000.00 314,200.00 52,194.94 33,405.40 18,789.54 $7,850,117.95 $6,514,598.60 $1,335,519.35 DEDUCT: Obligations Issued by Capital Projects Fund _$4 , 804 , 598. 60 fJ'dkr'; and Yed()ltf' ~~"'t;e d _Nt... .. EXHIBIT C-3 .. .. .. TOWN OF WAPPINGER ENI'ERPRISE FUlID .. STATEMENr OF REVENUE, EXPENDI'l'ORES AND ENCUMBRANCES FOR THE YEAR ENDED DECEMBER 31. 197~ .. TarAL SEWER WATER .. REVENUE : Sewer Service Charges $152,537.91 $152,537,91 $ Metered Water Sales 91,660.69 91,660.69 Penalties and Interest on .. Delinquent Charges 1,564.34 1,156.91 407.43 Hook-Up Fees 12,165.00 11,175.00 990.00 Interest Earned 3,978.62 3,189.60 789.02 .. State Aid 10.041. 64 10.041.64 TarAL REVENUE .!271.948.20 j178.101.06 j93.841.14 .. EXPENDITURES AND ENCUMBRANCES: Personal Services $ 78,887.28 $ 48,589.68 $30,297.60 Contractual Expenses 140,183.23 93,219.56 46,963.67 .. Interest 2,243.75 2,168.96 74.79 Refunds to Oakwood Sewer District Customers 1.946.56 1,946.56 .. TOTAL EXPENDITURES AND ENCUMBRANCES :1>223.260.82 j145.924.76 j77,336.06 .. EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES AND ENCUMBRANCES j 48.687.38 j 32.176.30 j; 16.511.08 .. .. .. .. .. .. ~~. tuUI g~ ~ 9'~ ~-' IIIi IIIIIl iii iii IIii . III . III III . . . . . . II III II ~ L. b' ill .. l.. .. ill .. .. .. III .. .. III III III .. IiIII .. - TOWN OF WAPPINGER ENTERPRISE FUND SEWER DISTRICTS BALANCE SHEET DECEMBER 31, 1975 ASSETS CURRENT ASSETS Cash in Bank - Checking Cash in Bank - Savings Certificates of Deposit Accounts Receivable TOTAL CURRENT ASSETS utility Plant in Service TOTAL ASSETS LIABILITIES AND :FUND BALANCE LIABILITIES Encumbrances Payable Due to other Funds Due to General Fund Bond Anticipation Notes Payable Revenue Anticipation Notes Payable Serial Bonds Payable TOTAL LIABILITIES FUND BALANCE (EXHIBIT C-5) TOTAL LIABILITIES AND FUND BALANCE TOTAL j J j J j J j J j J J .J J $ 20,779.54 26,780.70 45,556.00 11,445.25 $ 104,561.49 8,172.349.80 ~8.276.911.29 $ 15.10 9,247.59 2,250.00 2,810,000.00 22,000.00 628,800.00 $3,472,312.69 ~804,598.60 ~8.276,911.29 .J J J Ji .....1 J I II :i ... EXHIBIT c-4 1M ... ~ ~ .. ROCKINGHAM MID-POINT PARK WILDWOOD FLEETWOOD WAPPINGERS SEWER D1PROV- MENT #1 .. $ 13,331. 37 $ 1,646.90 $ 4,232.26 $ $ 1,569.01 17,158.09 4,656.20 3,699.92 1,266.49 ... 10,556.00 35,000.00 4,408.80 1,705.00 2,462.85 1,443.55 1,425.05 $ 45,454.26 $ 8,008.10 $ 45,395.03 $ 2,710.04 $ 2,994.06 .. 2,949,259.60 712,574.76 366,594.60 151L271.35 3,992,649.49 .. $2.994.713.86 ~720, 582. 86 ~11.989.63 $153.981. 39 $3.995.643.55 .. ... $ 10.10 $ $ $ $ 5.00 1,247.59 8,000.00 2,250.00 ... 400,000.00 2,410,000.00 15,000.00 7,000.00 92,400.00 536.400.00 - $ 15,010.10 $ $400,000.00 $102,897.59 $2,954,405.00 2,979,703.76 720,582.86 11,989.63 51,083.80 1,041.238.55 - $2.994.713.86 $720.582.86 $411.989.63 $153.981. 39 $3.995,643.55 - - .. .. J J J J J J J J J J J .. II Ilk .. - ... . . L L l l L L L L L L L L L L L L l L L J 4 J J i ~ ~ j ~ i i ~ j j J . I I ~ j L L L L L L L L L L L L L L L L L L L ~I I J J ~ .t J J J J J j J ~ j J j j ~ ~ .. .. .... .... .. .. II. ... 1M ... ... k l. IJ .. II. it. .. lilt l i. II. TOWN OF WAPPINGER ENTERPRISE FUND WATER DISTRICTS BALANCE SHEET DECEMBER 31, 1975 ASSETS CURRENI' ASSETS Cash in Bank - Checking Cash in Bank - Savings Certificates of Deposit Accounts Receivable Due From Other Funds TOTAL CURRENI' ASSETS Utility Plant in Service TOTAL ASSETS LIABILITIES AND FUND BALANCE LIABILITIES Encumbrances Payable Due to Other Funds Due to General Fund Bond Anticipation Notes Payable Revenue Anticipation Notes Payable Serial Bonds Payable TOTAL LIABILITIES FUND BALANCE (EXHIBIT c-8) TOTAL LIABILITIES AND FUND BALANCE TOTAL J J J J j J J J J J J J J J J J J J J $ 2,895.44 23,433.84 17,200.00 7,709.97 1,247.59 $ 52,486.84 3,486,461. 61 Ai3,538.948.45 $ 30.00 12,580.27 8,618.83 2,670,000.00 1,000.00 ---. 481-1-200.00 $3,173,429.10 . 365,519.35 Ji3.538,948.45 .c .. EXHIBIT C-7 .. III - - CENI'RAL WAPPINGERS OAKWOOD TALL TREES FLEETWOOD - - $ 1,067.52 $ 103.35 $ 1,487.27 $ 237.30 12,770.66 1,527.57 6,180.48 2,955.13 1,700.00 15,500.00 - 4,903.37 1,262.25 651.20 893.15 1,247.59 - $ 20,441. 55 $ 2,893.17 $23,818.95 $ 5,,333.17 3,283,627.17 45,411.12 61,210.46 96,212.86 -- $3,304,068.72 Pt8,304.29 .$85,029.41 .$101,546.03 .... ... $ $ $ $ 30.00 12,580.27 4,868.83 3,750.00 - 2,590,000.00 80,000.00 1,000.00 389,000.00 33,600.00 58,600.00 - $2,991,610.27 $39,468.83 $80,000.00 $ 62,350.00 .... 312,458.45 8,835.46 5,029.41 39,196.03 $3,304,068.72 $48,304.29 $85,029.41 ~101,546.03 ... .... -- -- J J< ..:.,i' j .J J .... J ... .. .. - .. .. - - .. .. .. .. .. L l l L L L L L l L L L L L L L L L L I j ~ j 4 j ~ ~ J ~ j ~ j j ~ j oj I ,I it j - L L L L L L L l L L L L L L L L L L L - ~~ J I ~ ~ ~ j I I J j j ~ j i ;,1 . j 4 j I ~ .j .. EXHIBIT D-l ~. ... ilia ~ ... .. TOWN OF WAPPINGER SPECIAL REVENUE liUIID BAIANCE SHEET DECEMBER 31. 1975 .... l. ... TOTAL FEDERAL REVENUE SHARING STREET LIGHTING if .. ASSETS ~ .. TOTAL ASSETS $ .89 $ .89 $ 4,179.79 4,179.79 398. 80 398. 80 j4,5'(9.48 $4.180.68 j398.8o Cash in Bank - Checking Cash in Bank - Savings Due From other Funds .. .. LIABILITIES AND FUND BALANCE ... ~ TOTAL LIABILITIES AND FUND BALANCE ~.579.48 $4 . 579. 48 jI4.18o.68 j4.18o.68 j398.8o .$398.80 Fund Balance ill. .. .. .. ... ~; .. g;~";,,,. aNi g~ ~ ~ d .,,-", , ~ J J J J J J j J J J J J J J, ) J J J -J J EXfIIBIT D-2 TOWN OF WAPPINGER SPECIAL REVENUE FUND STATEMENT OF REVENUE. EXPENDITURES. TRANSFERS AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBI!:R 31. 1975 TOTAL FEDERAL REVENUE SHARING STREET UGHrING REVENUE : Federal Revenue Sharing Entitlements Real Property Taxes Interest Earned TarAL EXPENDITURES $115,095.00 $115,095.00 $ 12,172.00 12,172.00 8.921.15 8.919.95 1.20 ~136.188.12 .:$124.014.95 j12.173.2O $ 14,172.80 $ 14,172.80 $ 25,000.00 25,000.00 11.806.92 11.806.92 J; 50.979.72 1 39.172.80 1$11.806.22 TarAL REVENUE EXPENDITURES: Sanitary Landfill Drainage study Street Lighting TRANSFERS '1'0: Capital Projects Fund For: Highway' Improvement Sewer Improvement Area #2 TarAL TRANSFERS $216,975.21 $216,975.21 $ 18.300.00 18.300.00 ~235,275.21 .$235.275.21 j 1$286.254.93. J;274.448.01 j11.806.92 TarAL EXPENDITURES AND TRANSFERS EXCESS (DEFICIENCY) OF REVENUE OVEn EXPENDITURES AND TRANSFERS $(150,066.78) 154.Q46.26 $ 4.579.48 $(150,433.06) 154.613.74 j 4,180.68 $ 366.28 FUND BALANCE - January 1, 1975 FUND BALANCE - December 31, 1975 32.52 j 398.80 gJ.u,,,,.,... a"tI g~ ~~.. d ~~hA ... mIEIT D-3 ... ... ... ... ... TOWN OF WAPPINGER SPECIAL REVENUE FUND FEDERAL REVENUE SHARING BALANCE SHEET DECEMBER ~l. 1975 , II.. .. ASSETS ~ Cash in Bank - Checking Cash in Bank - Savings TOTAL ASSETS $ .89 4J179.79 $4.180.68 ll. ... LIABILITIES AND FUND BALANCE .... TOTAL LIABIUTIES AND FUND BALANCE !4Jl80.68 $4.180.68 Fund Balance ... ... ... .. ... ... .. @-"'f".",. tUUi g'~ ~ ~ ~ ..",,-. EXHIBIT D-4 TOWN OF WAPPINGER SPECIAL REVENUE FUND FEDERAL REVENUE SHARING STATEMEN1' OF REVENUE. EXPENDITURES. TRANSFERS AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 3.1. 1975 REVENUE : Federal Revenue Sharing Entitlements Interest Earned $ 115,095.00 8,919.92 j 124.014.95 TarAL REVENUE EXPENDITURES: Sanitary Landfill Drainage Study $ 14,172.80 25.000.00 i 39.172.80 TarAL EXPENDITURES TRANSFERS TO: CAPITAL PROJECTS FUND FOR: Highway Improvement Sewer Improvement Area #2 $ 216,975.21 18,300.00 ! 235.275.21 i 274,448.01 TarAL TRANSFERS TarAL EXPENDITURES AND TRANSFERS EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES AND TRANSFERS $(150,433.06) 154,613.74 ~ 4.180.68 FUND BALANCE - January 1, 1975 FUND BALANCE - December 31, 1975 {J'~,. (uu/ f/~ ~~" ~ ,..,. J J J j J J J J J J J J J J J J J J J .. I ... ~" .. l .. .. ... '- j; *"" III ASSETS Due From Other Funds !l;. .. TOWN OF WAPPINGER SPECIAL REVENUE FUND STREET LIGHTING :BA.LANCE SHEET DECEMBE:R 31. 1975 TarAL j398.8o I. LIABILITIES AND FUND BALANCE Fund Balance L. ~, r; .. t' ... iI. ... ~ III .. 4..' '- ... j398.8o HUGHSONVIL.!E CEEIBEA $253.60 $253.60 f.1J~; alld g~ ~ ~ ~ .11..." j1l8.72 jl18.72 EXHIBIT D-5 CAMEL! j26.48 ffi26.48 EXHIBIT n-6 J J J J J J TOWN OF WAPPINGER SPECIAL REVENUE roND STREET LIGlHING STATEMENT OF REVENUE. EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31. 1975 TOl'AL HUGHSONVILLE CHELSEA CAMELI REVENUE : Real Property Taxes $12,172.00 $8,430.00 $3,462.00 $280. 00 Interest Earned 1.20 . 76 .36 .08 TarAL REVENUE ~12.173.20 ,:t8.430.76 ~3.462.36 ~80. 08 EXPENDITURES: Street Lighting j11.806.92 ,:t8.177.16 ~3.358.20 j271. 56 TarAL EXPENDITURES j11.806.92 .$8.177.16 j3J358.20 j271. 56 EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES $ 366.28 $ 253.60 $ 104.16 $ 8.52 FUND BALANCE - January 1, 1975 32. 52 14.56 17.96 FUND BALANCE - December 31, 1975 j 398.80 $ 253.60 j 118.72 ~ 26.48 fJ'~' tUYi y~ ~ ~ ..r4 ..trlrr. J J J J .J J J J J J J J J .. .. ... ... ... ... TOWN OF WAPPINGER CAPITAL PROJECTS :FUND BALANCE SHEET DECEMBER 31. 1972 .. ASSETS .. ... Cash in Bank - Checking Cash in Bank - Savings Certificates of Deposit Due From other Funds TarAL ASSETS ... ... LIABILITIES AND FUND BALANCE ... LIABILITIES Retained Percentages Fund Balance .. TarAL LIABILITIES AND FUND BAIANCE , .. .. .. .. .. .. fJ'-a,,,,;,,. tUUi g~ ~ ~ ..~ _Ifrro~ $ 2,852.47 32,407.44 363,584.20 20,809.22 EXHIBIT E..l j419.653.33 $360,494.91 59,158.42 $419.653.33 EXHIBIT E-2 J i .. FUND BALANCE - January 1, 1975 FUND BALANCE - December 31, 1975 $ (851,984.33) 911,142.75 11> 59,158.42 ~ .~ I ~ ~ J J J j J J J J J J J J J TOWN OF WAPPINGER CAPITAL PROJECTS FUND STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1975 REVENUE : Benefit Assessments Federal Aid Interfund Revenue Interest Earned Obli~ations Issued: Bond Anticipation Notes Capital Note TaI'AL RECEIPTS $ 273,201.00 5,690.00 235,275.21 33,160.29 2,853,375.00 9,125.00 !3J409J826.50 EXPENDITURES: Capital Projects: Rockingham Expansion Sewer Improvement Fleetwood Water Fleetwood Sewer Water Improvement Drainage Oakwood Water Tall Trees Water Wildwood Sewer Federal Revenue Sharing: Highway Improvement Sewer Improvement Area #2 De bt Service: Serial Bonds Bond Anticipation Notes Transfers TOTAL DISBURSEMENTS EXCESS (DEFICIENCY) OF REVENUE OVER E~NDITURES $ 375.00 1,134,753.55 2,980.00 6,820.65 1,585,941. 76 74,724.66 1,740.00 61,210.46 366,594.60 216,975.21 18,300.00 19,200.00 720,000.00 52,194.94 ~J261J810.83 fJJ~' tmd g~ ~.9'~ Ja(; ."IM' La i. ~. ~ .. .. TOWN OF WAPPINGER TRUST A1ID AGENCY FUND BALANCE SEEm DECEMBER 31. 1975 ... i. ASsms ~: .. Cash in Bank - Checking -Cash in Bank - Savings Certificates of Deposit $ 14,277.37 137,990.95 35J800.oo TOTAL ASSETS .. LIABILITIES AND FUm> BALANCE .. -. LIABILITIES Payroll Withholding Payable Road Bonds Returnable Due Town of Wappinger Engineer Due General Fund - Town Outside Village Due Other Funds Due Fire Districts $ 12,994.39 154,318.00 5,712.04 3,817.46 627.75 8.57 ~ .. I; .. TOTAL LIABILITIES .. FUND BALANCE Recreation Downstream Drainage $ 3,904.11 6,686.00 TOTAL FUND BALANCE .. TOTAL LIABILITIES AND FUND BALANCE .. .. - .. ... g;+",. tUUI g~ ~ 9&11. s4 .Jltird EXHIBIT F-1 jl88.068.32 $177,478.21 10,590.11 jl88.068.32 mIIBrI' F-2 J J ,j I J J" ..1; , J .. . J J J J J J J J J J J J TOWN OF WAPPINGER TRUST AND AGENCY Mn STATEMENT OF CASH RECEIPTS. DISBURSEMENrS AND CHANClES IN CASH BALANCES FeR THE YEAR ENDED DECEMBER 31. 1975 RECEIPrS : Fire District Taxes School District Taxes state and County Taxes Interest Earned Payroll Withho1dings Consolidated Payroll Road Bonds Sub-Division Fees !and Developers Contribution for: Recreation Downstream Drainage $ 190,179.74 3,130,140.66 1,144,909.58 13,261.53 114,995.80 405,305.59 60,595.20 1,579.49 TCJl'AL RECEIPTS DISBURSEMENTS: Tax Collections Paid to: Fire Districts School District Dutchess County Commissioner of Finance Payroll Withholding Consolidated Payroll Road Bonds Returned Recreation 2,900.00 8.858.00 j6 J 212.131. 59 TOTAL DISBURSEMENTS EXCESS (D;EFICIENCY) OF RECEIPTS OVER DISBURSEMENrS $ 190,179.74 3,130,140.66 1,144.909.58 111,551. 68 405,424.64 155,763.83 2.500.00 jQ.340.410.l3 Cash - January 1, 1915 $ (61,738.54) 255.806.86 $ 188.068.32 Cash - December 31, 1975 gJ.&,,,;,,,' tUUI !/~ ~ f#I.IIu ..~ .".... .. EXHIBIT G ... ... ~ .. TOWN OF WAPPINGER STATEMENT OF GENERAL FIXED ASSETS DECEMBER 31, 1975 III III GENERAL FIXIm ASSETS: land Recreation Land Buildings Improvements Other Than Buildings Equipment Work in Process - Sewer Improvement Area #2 t; .. TOTAL GENERAL FIXED ASSETS $ 31,384.54 538,529.75 105,074.31 1,248,654.48 94,618.23 148,066.66 $2,166,327.97 i. .. INVESTMENT IN GENERAL FIXED ASSETS FROM: Capital Projects Funds: General Obligation Bonds Federal Revenue Sharing General Fund Revenues Gifts TOTAL INVESTMENT IN GENERAL FIXED ASSETS $1,436,276.56 166,021.66 15,500.00 548,529.75 ji2,166.327.97 III t II. i. ... III ;,., III ... .. .. 9e1J,?IlHu' and' .9;j~ ~tM' 9''''~'tJ J#_,.,.~ EXHIBIT H J J . .. J j J a il . J J J J J J J J J J J TOWN OF WAPPINGER STATEMENl' OF GENERAL LONG TERM DEBT DECEMBER 31, 1975 AMOUNl' TO BE PROVIDED FOR THE PAYMENl' OF GENERAL LONG TERM DEBT Amounts to be Provided in Future Budgets $1,895,500.00 GENERAL LONG TERM DEBT PAYABLE TarAL GENERAL LONG TERM DEBT PAYABLE $ 15,000.00 1,403,000.00 463,375.00 14,125.00 j1,895,500.00 Term Bonds Payable Serial Bonds Payable Bond Anticipation Notes Payable Capital Notes Payable 3'~i atul !/edoN ~ ~ ~ nt-~ .. .. TOWN OF WAPPINGER .. COMMENI'S .. .. Accounting System and Reports The Town's accounting records are maintained on a single entry system, with all revenues being recorded when received and expenditures being recorded when paid. It is strongly recommended that the Town's records be maintained on a modified accrual basis of accounting using a double entry system of accounts and a general ledger. It is essential that the various funds be kept separate and self-balancing. .. .. It may be necessary to review the personnel requirements within the comptroller's office to determine the feasiblity of implementing these recommendations with the present staff's bookkeeping abilities. .. In view of the growth of the Town in recent years, it is recom- mended an accounting procedures manual be prepared which would be used in conjunction with the New York State Uniform System of Accounts Manual now being utilized by the Town and should include, among other things, appro- priate descriptions of all accounting procedures and routines. .. ~.. .. It is further recommended that with the implementation of a mod- ified accrual system and a general ledger, that a formal internal financial reporting system be established. This system to be designed in such fashion to enable Town's management personnel and the Town board to evaluate the effectiveness of the Town's financial condition throughout the year and monitor the budgeting process. We suggest to achieve this that the internal financial reporting system include the following as a minimum. .. .. Analysis of actual vs. budgeted expenditures and revenues. Cash utilization and forecasted requirements. Analysis of supplemental appropriations. II. II. Internal Controls Receiver of Taxes: Our audit of the records of the receiver of taxes indicated that cash receipts and cash disbursements journals were inadequately prepared. Journals were improperly added and crossfooted and rrequently additions and crossfoots were not made. Reconciliations of monthly receipts and deposits were not made. The manner in which checks drawn against insufficient funds were handled was incorrect. Reconciling of the books of account with the bank end of month statements were not made. .. li;, III It is recommended that a proper system of recording receipts and disbursements be initiated and that bank reconciliations be made monthly. oi .. .. .. (J}+,.",. tuUI g~ ~ ~ dr .. JIM. - 2 - Town Clerk: During the year under review in some instances voided receipts were not available for eX&1pination. However, during the year 1976 after this condition was noted by the New York state Department of Audit and Control procedures were instituted to assure the retention of both original and duplicates of a~l voided receipts. Building Inspector: A review of the records of the building department revealed that the receipts issued for fees and services did not agree with the amounts turned over to the Town Supervisor and Town Clerk in the amount of $163.00. A prior years difference in this same area in the amount of $102.50 was indicated by an audit conducted by the New York State Department of Audit and Control. The total of this dis- crepancy amounting to $265.50 appears as an account receivable on Exhibit B-5. On April 9, 1976 this sum was deposited to the credit of the Town. PurchaSing: Present purchasing procedures provide that all purchase: orders over $100.00 be submitted to the supervisor or controller for approval. This enables the comptroller to adequatelY set up the applicable encumberances for these purchases. However, it is noted that there are a significant number of purchases in the under $100.00 range which did not reach the supervisor or comptroller timely enough for encumb- erances to be meaningful. It is recommended that all purchases be routed through the supervisor or comptroller for approval. ~ayroll and Personnel: Most personnel files inspected during our examination were incomplete. It is recommended that files be reviewed and updated with information concerning eligibility for the job (such as Civil Service Application), authorization supporting deductions (such as w-4 forms), vacation and" sick leave data, letters of official reprimand or commendation, and whatever will support the employment history. Further, all personnel files should be in the custody of the personnel officer. Compensation For Personnel: Various individuals have been paid by the Town after submission of a voucher for personal services. In the absence of a contractual arrangement between the Town and the supplier of personal services) th e Town must comply with the provisions of the United States Internal ReveLlue Code, Tax Law and Social and Retirement law. General Fixed Asset. Group of Accounts A record of fixed assets determined by us at December 31, 1975 appears in Exhibit G. As many benefits will accrue to the Town by the maintenance of fixed asset group of accounts it is recommended these accounts be maintained on a current basis. General Wng Term Debt Group of Accounts A record of long term debt determined by us at December 31, 1975 appears in Exhibit H. It is recommended these accounts be maintained on a current basis. Enter:prise Fund During the year under review utility plant was recorded on the books of account. $2,648,000.00 donated in 1972 and $703,000.00 was donated in 1975. in service of $3,351,000.00 of the utility plant was The values of the utility fJJ~' tI~ !/~ ~ ~ ~ 1111"'. J J J J J J ~ J J J J J J J J J J J J .. - 3 - ... plants was supplied by the Town engineer and represent replacement cost. .. General Fixed Assets The general fixed assets of the Town of Wappinger are those fixed assets used in the performance of general governmental functions and exclude the fixed assets of utility and other enterprise funds. As of December 31, 1975, the general fixed assets of the Town amounted to $2,166,327.97. This amount represents the original cost or fair market value at date of gift of the assets and is considerably less than their present value. Depreciation of general fixed assets is not recognized in the Town's accounting system. ... L. if 4. III ~~?4r .. .. .. ~- Ira ,~ ... .. .. II. i. ... ... ... ... fJJ.&pMi (uffl Yedewo ~~ {JJ"Ik; ~ ."....0 J J J if J J J J J J J J J J J J J J J