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1981-12-31 TOWN OF WAPPINGER AUDIT REPORT DECEMBER 31, 1981 FEBRUARY 24, 1982 1 j J 1 RECEIVED APR 2 119821 ELAINE H. SNOWDEN I I I (!/J+m' ([/Rd!/~ ~tWttj1u19JIie ~unloN& lff/U(;Q~ g;~ ONE OVEROCKER ROAD POUGtfKEEPSIE. NEW YORK 12803 IU .....82..0.0 MARK S. O'SULLIVAN, C.P.A. February 24, 1982 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, 1981 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 tests 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 state- ments present fairly the financial position of the various funds and balanced account groups, with the exception of the Fixed Asset Group of Accounts, for the Town of Wappinger, New York, at December 31, 1981, and the results of their operation for the year then ended, in con- formity 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 0(111[14 ,f. ,J'dM'~I. ~:es L. Sedore, Jr. v Certified Public Accountant JLS:fs TOWN OF WAPPINGER TABLE OF CONTENTS DECEMBER 31,1981 AUDITORS' REPORT COMMENTS All Funds Exhibit A - Balance Sheet Exhibit B - Statement of Revenue and Expenditures and Changes in Fund Balance Special Revenue Fund Schedule 1 - Balance Sheet Schedule 2 - Statement of Revenue and Expenditures and Changes in Fund Balance Water Districts Schedule 3 - Balance Sheet Schedule 4 - Statement of Revenue and Expenditures and Changes in Fund Balance Schedule 5 - Statement of Changes in Financial Position Sewer Districts Schedule 6 - Balance Sheet Schedule 7 - Statement of Revenue and Expenditures and Changes in Fund Balance Schedule 8 - Statement of Changes in Financial Position Capital Projects Fund Schedule 9 - Balance Sheet Schedule 10- Statement of Revenue and Expenditures and Changes in Fund Balance TOWN OF WAPPINGER COMMENTS FOR THE YEAR ENDED DECEMBER 31, 1981 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. 2. Accounting Records: Books and records as maintained by the Comptroller's office were adequate for the purpose of presenting fairly the financial position and results of operations of the respective funds, and the financial position of the self-balancing account groups. 3. Internal Control: During the year under review, internal controls were adequate for the purpose of exercising effective accounting control over Assets, Liabilities, Revenues and Expenditures except for the General Fixed Assets group of accounts as detailed in Comment 4. 4. General Fixed Assets: At the time of purchase, General Fixed Assets are recorded as ex- penditures in all but the Water and Sewer districts. Such assets are subsequently c~pitalized in the General Fixed Assets group of accounts. Gifts or contributions are recorded in the General Fixed Assets group of accounts at fair market value as of the date received. These pro- cedures have been followed since 1975.. However, the State of New York, Department of Audit and Control has mandated that, as of fiscal year beginning in 1978, municipalities will be required t~ maintain fixed asset accounting system. To comply with this mandate, it would be necessary to compile a record of property owned as of January 1, 1978 and to establish necessary bookkeeping pro- cedures to safeguard and account for these assets and all subsequent acquisitions and dispositions. Thus far, these procedures have not been initiated. 5. Depreciation: In keeping with General Accepted Accounting Principles for municipal accounting, depreciation, as an element of expense, has been recorded in the Water and Sewer Districts only. 6. New York State Retirement Contributions: Contributions into the New York State Retirement System are recorded as expenses come due, not when employee services are rendered. As a result, retirement contributions recorded for the year ended December 31, 1981 are for the retirement system's year ended March 31, 1980. 7. Statement of Changes in Financial Position: Included in this report as an additional schedule is a Statement of Changes in Financial Position. This new financial statement appears only for the Water and Sewer Districts. The Statement of Changes in Financial Position attempts to illustrate to the reader the total "Funds" generated by an organization in the course of a year and then detail the disposition of those "Funds". For the purposes of this report "Funds" refers to Working Capital or Current Assets Less Current Liabilities. -, i I 8. Sewer Improvement Area #2 (Tri-Municipal) J As a result of a permissive'referendum on November 3, 1981, the Town of Wappinger is restr:ained from any further parti-cipation" in the "Tri- Municipal Sewer Project" as it is now designed. Consequently, several existing sewage treatment plants are under mandate to upgrade their facilities to meet current specifications. The financial impact of the aforementioned is undeterminable at this time and therefore cannot be reflected in this report. I J J j I J TOWN OF WAPPINGER BALANCE SHEET DECEMBER 31,1981 ASSETS TO-TAL ALL FUNDS CURRENT ASSETS Cash Temporary Investments Accounts Receivable Due from (to) Other Funds $ 840,114.27 871 ,419 . 00 175,498.56 TOTAL CURRENT ASSETS $ 1,887,031. 83 FIXED ASSETS General Fixed Assets Utility Plant Total Less: Accumulated Depreciation $ 3,639,279.73 12,647,942.03 $16,287,221.76 3,153,400.25 TOTAL FIXED ASSETS $13,133,821.51 TOTAL ASSETS $15,020,853.34 LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable Retained Percentages, Contracts Payable Other Liabilities . $ 103,624.63 11,857.85 47,709.94 TOTAL CURRENT LIABILITIES $ 163,192.42 Long Term Debt Payable $ 8,182,218.00 TOTAL LIABILITIES $ 8,345,410.42 FUND BALANCE Appropriated - 1982 Budget Unappropriated $ 217,649.00 6,457,793.92 TOTAL FUND BALANCE (EXHIB IT B) $ 6,675,442.92 TOTAL LIABILITIES AND FUND BALANCE $15,020,853.34 TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1981 REVENUE Real Property Taxes Special Assessments Other Tax Items Departmental Income Use of Money and Property Licenses and Permits Fines and Forfeited Bail Miscellaneous State Aid Federal Aid Obligations Issued Transfers from (to) Other Funds TOTAL REVENUES EXPENDITURES General Government Support Public Safety Health Transportation Economic Assistance and Opportunity Culture and Recreation Home and Community Services Employee Benefits Debt Service - Principal Debt Service - Interest TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES BEFORE DEPRECIATION DEPRECIATION EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES (Forwarded) TOTAL ALL FUNDS $ 1,156,578.37 639,595.00 19,702.85 532,150.08 215,979.12 84,055.86 26,523.20 11,582.08 546,977.57 135,619.00 290,218.00 $ 3,658,981.13 $ 445,192.95 184,098.89 7,000.48 744,318.80 11,068.00 134,622.18 794,977 .42 188,662.42 383,267.46 439,876.93 $ 3,333,085.53 $ 325,895.60 316,198.55 $ 9,697.05 ..: .... >-< "' ~ [nH,; 00l0l ....,....'" .... 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CON ~ ';. NCO ~o:~ ~ ~ ~ ..... 00 "'0 CO 00 '" CO ... "'.....'" '" '" '" ." '" HH '" .... .... <"'I... N<"'IH '" H ..... ~ N 8 H ..... -0: .. <J> <r> <r> t; .... 0"'''' ~ H H H "''''... '" 0'" ~ONO"IO\ 0 '" "'N'" N N '" .... H ...'" OO~M\O co <"'I r; .. .; NO", <"'1...0 <Xi ,..; "'0 r--:Or-:~M H .... H ." '" 0"'0 NOoo '" '" "'... MO,....,OO\ ..... ... ... ..... ~ ...."'H "''''''' ""; .-;. ....'" 1.1')<""100"10 ~ '" ~ :. .. .... .. ~ N "'H<"'I "'...... '" .... ... "'H", H 0 '" '" '" H ..... N H ~ '" 0 H '" CO '" ... ... 0 "" N '" ... '" H <J> <r> <J> <J> TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1981 EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES (Forwarded) OTHER CHANGES IN FUND BALANCE Liabilities Paid From Appropriations Capital Outlay Paid From Appropriations Obligations Issued FUND BALANCE - January 1, 1981 FUND BALANCE - December 31, 1981 TOTAL ALL FUNDS $ 9,697.05 383,267.46 282,431.17 (290,218.00) 6,290,265.24 $ 6,675,442,92 ~ "" '" ~ " f-< " ..... '" '" H.... H '" ..... "'... .; a. H " '" '" 0 ..... 0 ..... >< <J ~QUl "; ~ "; <oJ~ <oJH "'><<oJ 0 '" '" ZHUl "" '" '" <oJ"'Ul N '; '<;, " ..; '" '" <n- O 0 ~ 0 0 0 0 0 0 0 <Xi 0 "" 0 H 0 H ~~~ a;. "; '; ';. 0",", ., 0 .., '" ,.JHQ ., '" ~ '" ~ 0;. .::::'. H ~ <n- H >< U UlQZ ~:;j~ H ..; <n- ~ "" .., H 0 0 H '" H .; 0 Ul '" ,.JH ~ '" '" '" ";UH ~ ~ '""! H", " H...,,,,, '" '" '" o..0~ '" '" H <<<'" '" .., '" Uo.. <J ~ ..... "'0 ..... ..., ;::- H HO '" '" Ul 0 "'''' ..... ..... H ~ '" ""'" ., '" <<UH ..... '" H '" ~ "' H " ..... "'<<"" '" "'''' '" "'f-< ~ ., '" H ..... UlUl..c: ~ H '" "; H <J Q~ ..., ..., TOWN OF WAPPINGER BALANCE SHEET SPECIAL REVENUE FUND DECEMBER 31, 1981 ASSETS TOTAL CURRENT ASSETS Cash $ 48,449.35 Temporary Investments 230,358.00 Accounts Receivable 1,340.09 TOTAL ASSETS $ 280,147.44 LIABILITIES AND FUND BALANCE FUND BALANCE Unappropriated (Schedule 2) $ 280,147.44 TOTAL LIABILITIES AND FUND BALANCE $ 280,147.44 FEDERAL REVENUE SHARING STREET LIGHTING $ 10,491.81 $ 1.70 25,000.00 5,145.00 1,340.09 $ 35,491.81 $ 6,486.79 $ 35,491.81 $ 6,486.79 $ 35,491.81 $ 6,486.79 DOWNSTREAM DRAINAGE $ 35,388.81 144,000.00 $ 179,388.81 $ 179,388.81 $ 179,388.81 PARKLANDS DEPOSIT TRUST $ 12.90 44,763.00 $ 44,775.90 $ 44,775.90 $ 44,775.90 GEORGE SCHLATHAUS MEMORIAL FUND $ (8.26) 5,950.00 $ 5,941. 74 $ 5,941. 74 $ 5,941.74 The Audit Comments are an integral part of this report. SCHEDULE 1 DOG CONTROL PROGRAM $ 2,562.39 5,500.00 $ 8,062.39 $ 8,062.39 $ 8,062.39 TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND FOR YEAR ENDED DECEMBER 31, 1981 REVENUE Special Assessments Use of Money and Property Licenses and Permits Miscellaneous Federal Aid Transfers to Other Funds TOTAL REVENUES EXPENDITURES General Government Support Public Safety Health Transportation Economic Assistance and Opportunity -Culture and Recreation TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES FUND BALANCE - January 1, 1981 FUND BALANCE - December 31, 1981 .- TOTAL $ 19,789.00 33,036.17 84,055.86 742.60 135,619.00 (12,392.64) $ 260,849.99 f $ 2,180.78 72,256.04 7,000.48 52,331. 63 9,768.00 23,000.00 $ 166,536.93 $ 94,313.06 185,834.38 $ 280,147.44 SCHEDULE 2 GEORGE FEDERAL PARKLANDS SCHLATHAUS DOG REVENUE STREET DOWNSTREAM DEPOSIT MEMORIAL CONTROL SHARING LIGHTING DRAINAGE TRUST FUND PROGRAM $ $ 19,789.00 $ $ $ $ 2,284.57 798.20 19,086.05 6,472.03 3,508.70 886.62 68,121. 45 15,934.41 742.60 135,619.00 (12, 39i. 64) $138,646.17 $ 20,587.20 $ 74,814.86 $ 6,472.03 $ 3,508.70 $16,821. 03 $ $ $ 971.10 $ 1,209.68 58,191.29 $14,064.75 7,000.48 32,208.16 20,123.47 9,768.00 23,000.00 $130,167.93 $ 20,123.47 $ 971.10 $ 1,209.68 $14,064.75 $ 8,478. 2/~ $ 463.73 $ 73,843.76 $ 6,472.03 $ 2,299.02 $ 2,756.28 27,013.57 6,023.06 105,545.05 38,303.87 3,642.72 5,306.11 $ 35,491. 81 $ 6,486.79 $179,388.81 $ 44,775.90 $ 5,941.74 $ 8,062.39 The Audit Comments are an integral part of this report. TOWN OF WAPPINGER BALANCE SHEET WATER DISTRICTS DECEMBER 31, 1981 ASSETS CURRENT ASSETS Cash Accounts Receivable Due From (to) Other Funds TOTAL CURRENT ASSETS FIXED ASSETS Utility Plant Less: Accumulated Depreciation TOTAL FIXED ASSETS TOTAL ASSETS LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable Retained Percentages, Contracts Payable TOTAL CURRENT LIABILITIES LONG TERM DEBT PAYABLE TOTAL LIABILITIES FUND BALANCE Appropriated in 1982 Budget Unappropriated TOTAL FUND BALANCE (Schedule 4) TOTAL LIABILITIES AND FUND BALANCE TOTAL $ 117,933.42 73,586.47 (16,555.95) $ 174 , 963 . 94 $4,016,587.76 801,598.23 $3,214,989.53 $3,389,953.47 $ 20,026.99 423.50 $ 20,450.49 2,936,850.00 $2,957,300.49 $ 9,508.00 423,144.98 $ 432,652.98 $3,389,953.47 SCHEDULE 3 CENTRAL OAKWOOD FLEETWOOD TALL TREES WAPPERINGER ARDMORE WATCH HILL $ 4,199.76 $ 25.01 $ 126.79 $ 75,827.34 $ 35,254.31 $ 2.500.21 4,887.30 4,400.01 4,310.26 50,656.31 912.84 8,419.75 (720.00) (867.00) (12,394.13) (2,574.82) $ 8,367.06 $ 3,558.02 $ (7,957.08) $ 123,908.83 $ 36,167.15 $ 10,919.96 $ 45,411.12 $ 96,212.86 $ 61,210.46 $3,523,442.94 $ 290,310.38 $ 15,893.92 30,066.50 10,711. 82 723,237.25 21,688.74 $ 29,517.20 $ 66,146.36 $ 50,498.64 $2,800,205.69 $ 268,621. 64 $ $ 37,884.26 $ 69,704.38 $ 42,541.56 $2,924,114.52 $ 304 ,788. 79 $ 10,919.96 $ 769.27 $ 10,690.03 $ 3,012.61 $ $ 5,555.08 423.50 $ $ 769.27 $ 10,690.03 $ 3,436.11 $ $ 5,555.08 26,400.00 46,300.00 47,650.00 2,579,000.00 237,500.00 $ 26,400.00 $ 47,069.27 $ 58,340.03 $2,582,436.11 $ 237,500.00 $ 5,555.08 $ 643.00 $ 3,563.00 $ $ 4,854.00 $ 448.00 $ 10,841. 26 19,072.11 (15,798.47) 336,824.41 66,840.79 5.364.88 $ 11 ,484. 26 $ 22,635.11 $ (15,798.47) $ 341,678.41 $ 67,288.79 $ 5,364.88 $ 37,884.26 $ 69,704.38 $ 42,541.56 $2,924,114.52 $ 304,788.79 $ 10,919.96 The Audit Comments are an integral part of this report. TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE WATER DISTRICTS FOR THE YEAR ENDED DECEMBER 31. 1981 REVENUE Special Assessments Departmental Income Use of Money and Property Miscellaneous TOTAL REVENUES EXPENDITURES Horne and Community Services Debt Service - Principal Debt Service - Interest TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES BEFORE DEPRECIATION DEPRECIATION EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES OTHER CHANGES IN FUND BALANCE . Liabilities Paid from Appropriations FUND BALANCE - January 1. 1981 FUND BALANCE - December 31, 1981 TOTAL $ 292,459.00 233.222.67 12.403.48 3.744.22 $ 541,829.37 $ 251,062.47 144.883.33 164,556.81 $ 560.502.61 $ (18.673.24) 100.414.69 $(119.087.93) 144.883.33 406.857.58 $ 432.652.98 SCHEDULE 4 CENTRAL OAKWOOD FLEETWOOD TALL TREES WAPPINGER ARDMORE WATCH HILL $ 2,580.00 $ 4,468.00 $ 5,482.00 $ 252,972.00 $ 26,957.00 $ 10,729.20 11,545.38 14,346.70 169,928.84 3,269.72 23,402.83 364.48 85.08 141.61 9,168.34 2,531.65 112.32 3,744.22 $ 13,673.68 $ 16,098.46 $ 19,970.31 $ 435,813.40 $ 32,758.37 $ 23,515.15 $ 12,358.94 $ 14,307.77 $ 17,526.50 $ 183,251. 70 $ 2,300.57 $ 21,316.99 1,200.00 3,450.00 2,450.00 125,683.33 12,100.00 1,380.00 2,367.50 2,981.38 142,971.40 14,856.53 $ 14,938.94 $ 20,125.27 $ 22,957.88 $ 451,906.43 $ 29,257.10 $ 21,316.99 $ (1,265.26) $ (4,026.81) $ (2,987.57) $ (16,093.03) $ 3,501.27 $ 2,198.16 1,135.28 2,405.32 1,530.26 88,086.07 7,257.76 $ (2,400.54) $ (6,432.13) $ (4,517.83) $ (104,179.10) $ 0,756.49) $ 2,198.16 1,200.00 3,450.00 2,450.00 125,683.33 12,100.00 12,684.80 25,617.24 (13,730.64) 320,174.18 58,945.28 3,166.72 $ 11,484.26 $ 22,635.11 $(15,798.47) $ 341, 678.41 $ 67,288.79 $ 5,364.88 The Audit Comments are an integral part of this report. TOWN OF WAPPINGER STATEMENT OF CHANGES IN FINANCIAL POSITION WATER DISTRICTS FOR THE YEAR ENDED DECEMBER 31, 1981 SOURCES OF WORKING CAPITAL: Operations: Excess (Deficiency) of Revenues over Expenditures Add: Liabilities Paid by Appropriations Net Income from Operations . Items Not Requiring Working Capital: Depreciation WORKING CAPITAL PROVIDED BY OPERATIONS USES OF WORKING CAPITAL: Reduction of Long Term Debt NET INCREASE (DECREASE) IN WORKING CAPITAL NET CHANGE IN WORKING CAPITAL ACCOUNTS Cash Accounts Receivable Due From Other Funds Accounts Payable Retained Percentages, Contracts Payable Due to Other Funds NET INCREASE (DECREASE) IN WORKING CAPITAL TOTAL $ (119,087.93) 144,883.33 $ 25,795.40 100,414.69 $ 126,210.09 127,850.00 $ (1,639.91) $ (24,094.67) ( 3,135.27) ( 1,734.13) 4,381.51 10,543.14 12,399.51 $ (1,639.91) SCHEDULE 5 OAKWOOD FLEETWOOD CENTRAL WAPPINGER ARDMORE WATCH HILL TALL TREES $ (2,400.54) $ (6,432.13) $ (4,517.83) $ (104,179.10) $ (3,756.49) $ 2,198.16 1,200.00 3,450.00 2,450.00 125,683.33 12,100.00 $ (1,200.54) $ (2,982.13) $ (2,067.83) $ 21,504.23 $ 8,343.51 $ 2,198.16 1,135 . 28 2,405.32 1,530.26 88,086.07 7,257.76 $ (65.26) $ (576.81) $ (537.57) $ 109,590.30 $ 15,601.27 $ 2,198.16 1,200.00 2,100.00 2,450.00 110,000.00 12,100.00 $ (1,265.26) $ (2,676.81) $ (2,987.57) $ (409.70) 3,501.27 $ 2,198.16 $ (1,082.56) $ (1,084.71) $ (506.55) $ (14,980.86) $ (8,060.86) $ 1,620.87 537.30 (158.95) 522.70 (7,714.52) 595.49 3,082.71 ( 1 , 734 . 13) ( 182.02) (2,531.72) 9,600.67 (2,505.42) (423.50) 10,966.64 (720.00) 483.00 (472.00) 13,108.51 $ (1,265.26) $ (2,676.81) $ (2,987.57) $ (409.70) $ 3,501. 27 $ 2,198.16 The Audit Comments are an integral part of this report. TOWN OF WAPPINGER BALANCE SHEET SEWER DISTRICTS DECEMBER 31, 1981 ASSETS TOTAL CURRENT ASSETS Cash Accounts Receivable Due From (to) Other Funds TOTAL CURRENT ASSETS $ 216,593.26 93,984.44 (3,001. 00) $ 306,576.70 FIXED ASSETS Utility Plant Less: Accumulated Depreciation TOTAL FIXED ASSETS $8,631,354.27 2,351,802.02 $6,279,552.25 TOTAL ASSETS $6,586,128.95 LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable $ 28,917.42 LONG TERM DEBT PAYABLE 3,280,650.00 TOTAL LIABILITIES $3,309,567.42 FUND BALANCE Appropriated in 1982 Budget Unappropriated $ 90,937.00 3,185,624.53 TOTAL FUND BALANCE (Schedule 7) $3,276,561. 53 TOTAL LIABILITIES AND FUND BALANCE $6,586,128.95 SCHEDULE 6 SEWER MID POINT IMPROVEMENT PARK FLEETWOOD ROCKINGHAM WILDWOOD AREA ill WATCH HILL $ 8,239.73 $ 15,889.48 $ 29,428.64 $105,926.68 $ 57,108.73 $ 9,178.07 13,283.75 27,539.78 16,235.60 26,747.24 (348.00) (580.00) ( 931.00) (580.00) (562.00) $ 17,069.80 $ 28,593.23 $ 56,037.42 $121,582.28 $ 83,293.97 $ $728,074.47 $151,271.35 $2,973,601.06 $371,847.42 $4,406,559.97 $ 126,250.55 47,272.25 1,150,232.13 64,722.46 963,324.63 $601,823.92 $103,999.10 $1,823,368.93 $307,124.96 $3,443,235.34 $ $618,893.72 $132,592.33 $1,879,406.35 $428,707.24 $3,526,529.31 $ $ 10,478.61 $ 2,878.19 $ $ $ 15,560.62 $ 19,100.00 71,700.00 318,000.00 2,871,850.00 $ 29,578.61 $ 74,578.19 $ $318,000.00 $2,887,410.62 $ $ 5,000.00 $ 5,263.00 $ 20,000.00 $ 6,850.00 $ 53,824.00 $ 584,315.11 52,751.14 1,859,406.35 103,857.24 585,294.69 $589,315.11 $ 58,014.14 $1,879,406.35 $110,707.24 $ 639,118.69 $ $618,893.72 $132,592.33 $1,879,406.35 $428,707.24 $3,526,529.31 $ The Audit Comments are an integral part of this report. TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE SEWER DISTRICTS FOR THE YEAR ENDED DECEMBER 31, 1981 REVENUES Special Assessments Departmental Income Use of Money and Property Miscellanea us State Aid TOTAL REVENUES EXPENDITURES Home and Community Services Debt Service - Principal Debt Service - Interest TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES BEFORE DEPRECIATION DEPRECIATION EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES OTHER CHANGES IN FUND BALANCE Liabilities Paid from Appropriation Capital Outlay Paid from Appropriation FUND BALANCE - January 1, 1981 FUND BALANCE - December 31, 1981 TOTAL $ 327,347.00 277 ,626.91 19,391. 41 1,641. 00 67,843.93 $ 693,850.25 $ 432,246.63 149,584.13 182,995.80 $ 764,826.56 $ (70,976.31) 215,783.86 $ (286,760.17) 149,584.13 2,156.00 3,411,581.57 $3,276,561.53 SCHEDULE 7 SEWER MID POINT IMPROVEMENT PARK FLEETWOOD ROCKINGHAM WILDWOOD AREA 111 WATCH HILL $ 2,196.00 $ 7,378.00 $ $ 30,442.00 $287,331.00 $ 30,087.98 37,584.67 84,000.54 52,599.20 73,354.52 552.76 1,541. 20 2,781.69 6,129.07 8,386.69 1,641.00 9,936.28 6,453.48 19,851. 39 8,207.02 23,395.76 $ 42,773.02 $ 52,957.35 $ 108,274.62 $ 97,377.29 $392,467.97 $ $ 47,491. 96 $ 41,350.66 $ 124,733.23 $ 45,520.46 $173,150.32 $ 1,000.00 8,934.13 13,000.00 126,650.00 1,195.60 3,677.50 17,441. 87 160,680.83 $ 49,687.56 $ 53,962.29 $ 124,733.23 $ 75,962.33 $460,481.15 $ $ (6,914.54) $ (1,004.94) $ (16,458.61) $ 21,414.96 $(68,013.18) $ 18,201.86 3,781.78 74,340.03 9,296.19 110,164.00 $(25,116.40) $ (4,786.72) $ (90,798.64) 12,118.77 $(178,177.18) $ 1,000.00 8,934.13 13,000.00 126,650.00 2,156.00 613,431. 51 53,866.73 1,970,204.99 85,588.47 688,489.87 $589,315.11 $ 58,014.14 $1,879,406.35 $110,707.24 $639,118.69 $ The Audit Comments are an integral part of this report. TOWN OF WAPPINGER STATEMENT OF CHANGES IN FINANCIAL POSITION SEWER DISTRICTS FOR THE YEAR ENDED DECEMBER 31, 1981 TOTAL SOURCES OF WORKING CAPITAL: Operations: Excess (Deficiency) of Revenue Over Expenditures Add: Liabilities Paid by Appropriations Capital Outlay Paid by Appropriations Net Income from Operations $ (286,760.17) 149,584.13 2,156.00 $ (135,020.04) Items Not Requiring Working Capital: Depreciation. 215,783.86 WORKING CAPITAL PROVIDED BY OPERATIONS $ 80,763.82 USES OF WORKING CAPITAL: Reduction of Long Term Debt Capital Outlay $ 144,350.00 2,156.00 TOTAL USES OF WORKING CAPITAL $ 146,506.00 NET INCREASE (DECREASE) IN WORKING CAPITAL $ (65,742.18) NET CHANGE IN WORKING CAPITAL ACCOUNTS Cash $ (35,320.07) Accounts Receivable ( 9,900.08) Due from Other Funds (15,683.33) Accounts Payable ( 8,107.05) Due to Other Funds 3,268.35 NET INCREASE (DECREASE) IN WORKING CAPITAL $ (65,742.18) SCHEDULE 8 MID POINT PARK WILDWOOD SEWER IMPROVEMENT AREA 111 WATCH HILL FLEETWOOD ROCKINGHAM $(25,116.40) $( 4,786.72) $(90,798.64) $12,118.77 $(178,177.18) $ 1,000.00 8,934.13 13,000.00 126,650.00 2,156.00 $(24,116.40) $ 4,147.41 $(90,798.64) $25,118.77 $( 49,371.18) $ 18,201. 86 3,781.78 74,340.03 9,296.19 110,164.00 $ (5,914.54) $ 7,929.19 $(16,458.61) $34,414.96 $ 60,792.82 $ $ 1,000.00 $ 3,700.00 $13,000.00 $ 126,650.00 $ 2,156.00 $ 1,000.00 $ 3,700.00 $ $13,000.00 $ 128,806.00 $( 6,914.54) $ 4,229.19 $(16,458.61) $21,414.96 $ (68,013.18) $ $ (247.93) $ (1,899.10) $ (i36.71) $17,301.69 $ (50,338.02) $ 1,489.46 330.35 (17,387.49) 4,314.20 1,353.40 (15,683.33) (7,808.07) 108.59 1,996.59 379.07 (2,783.23) (348.00) 5,689.35 (931.00) (580.00) (562.00) $ (6,914.54) $ 4,229.19 $(16,458.61) $21,414.96 $ (68,013.18) $ The Audit Comments are an integral part of this report. TOWN OF WAPPINGER BALANCE SHEET CAPITAL PROJECTS FUND DECEMBER 31, 1981 ASSETS CURRENT ASSETS Cash Temporary Investments Due from (to) Other Funds TOTAL ASSETS LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable Retained Percentages, Contracts Payable TOTAL LIABILITIES FUND BALANCE (Schedule 10) TOTAL LIABILITIES AND FUND BALANCE TOTAL $ 11, 630 . 27 641,061. 00 (24,400.00) $628,291.27 $ 1,736.71 11,434.35 $ 13 ,171. 06 615,120.21 $628,291. 27 STORM SEWER $ 14.68 15,473.00 $15,487.68 $ $ 15,487.68 $15,487.68 ~ a- "' '"' ::> '" "' "' U <J> .... ~~ "'".. c.:>H H::> ",0' "' <J> <J> <J> a- ~~ a- a- 0 0 a- 0 ~ ~ ~ ~ ~ .., .., N N <t .., N N V) V) .... N "'''' ~ ~ ~ ~ <"'> ~ "'0 .; '"'''' H H <t <t H <<>< H H H <J> <J> <J> <J> <J> ....0 ~ V) V) N .... <to <"'> '; H <t "' N N N "'''' N 0 "'< .., <Xl <Xl <Xl .., HZ ";. ";. ";. ";. ";. <H <;j;ii <t .., .., .... <t <"'> N <"'> "'''' <J> <J> <J> "' '" H", <J>c.:> 00 0 ~I 0 ....!::;;J ..,0 .., ~ ZO,", H.... ro ~I <Xl "' H V)N .... .... ~!'i:> <Xl ":. ":. ~~ .; .., .., <J> <J> <J> '"' ".. ;;j "' '"' U ....0 .... .... .... H "' V)O V) V) V) "' '" .; .; "' H <"'><"'> .., :> ~ <tN .., .., .., !'i .... .... .... .... 0 ~ a- ~ ~ .... <J> <J> <J> TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND FOR YEAR ENDED DECEMBER 31, 1981 TOTAL EXPENDITURES TOTAL STORM SEWER $ 90,453.49 $ 2,226.90 290,218.00 51,851. 39 $432,522.88 $ 2,226.90 $ 66,014.55 $ 65,170.00 78,774.25 $209,958.80 $ REVENUE Use of Money and Property Obligations Issued Transfers from Other Funds TOTAL REVENUE EXPENDITURES Public Safety Transportation Home and Community Services EXCESS (Deficiency) of REVENUES OVER EXPENDITURES $222,564.08 $ 2,226.90 FUND BALANCE - December 31, 1981 392,556.13 $615,120.21 13,260.78 $15,487.68 FUND BALANCE - January 1, 1981 0 ~ '" 5 Gl 0 0 0 0 0:: .... 0 0 0 c::: u ,.:z '" <'" 0 :2 :2 0 $~ ,... ,... ~ ~ ~ -;. "'~ ~:::> '" '" '" '" 0::0- '" '" '" '" '" U> U> U> U> ,... r- r- '" i\ N N N "; '" 0 0 0 '" 0 '" < '" '" '" co "'..::z a;. a;. 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