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1982-12-31 TOWN OF WAPPINGER AUDIT REPORT DECEMBER 31, 1982 FEBRUARY 22, 1983 {Sedore ~ O'Sttllif){1I1 Cerl1!1ed Public Accoulltants RECEIVED MAR 21 1983 ELAINE H. SNOWDEN RECEIVED MAR 2 1 1983 ELAINE H. SNOWDEN {Sedore & O'Sullivan February 22, 1983 Certified Public Accountants 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, 1982 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, 1982, 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, SEDORE AND O'SULLIVAN, C.P.A.'s 1:::::!:!:: t) Certified Public Accountant JLS:fs Enc: Statements f 90 East Main Street Wappingers Falls, N.Y. 12590 914297-1111 TOWN OF WAPPINGER TABLE OF CONTENTS DECEMBER 31, 1982 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 {Sedore & D'StI!liEY/II Cerlllied PublIC Accountants TOWN OF WAPPINGER COMMENTS FOR THE YEAR ENDED DECEMBER 31, 1982 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 capitalized 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 to maintain a 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 procedures to safeguard and account for these assets and all subsequent acquisitions and dispositions. Thus far, these pro- cedures have not been initiated. {Sedore ~ rJ'St,lIilYlll Certified Public Accountants 5. Depreciation: In keeping with General Accepted Accounting Principles applicable to governmental entities, 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, 1982 are for the retirement system year ended March 31, 1981. 7. Statement of Changes in Financial Position: Included in this report is a Statement of Changes in Financial Position. This 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 details the disposition of those "Funds". For the purposes of this report "Funds" refers to Working Capital or Current Assets Less Current Liabilities. 8. Sewer Improvement Area #2 (Tri-Municipal): As a result of a permissive referendum on November 3, 1981, the Town of Wappinger is restrained from any further participation 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. {Sedore & (J'St,!Ii['flll Certified Public Accountants TOWN OF WAPPINGER BALANCE SHEET . DECEMBER 31, 1982 ASSETS CURRENT ASSETS Cash Investments Accounts Receivable Due from (to) Other Funds TOTAL CURRENT ASSETS FIXED ASSETS General Fixed Assets Utility Plant Total Less: Accumulated Depreciation TOTAL FIXED ASSETS TOTAL ASSETS LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable Other Liabilities TOTAL CURRENT LIABILITIES Long-Term Debt Payable TOTAL LIABILITIES FUND BALANCE Appropriated - 1983 Budget Unappropriated TOTAL FUND BALANCE (EXHIBIT B) TOTAL LIABILITIES AND CAPITAL {Sedore ~ rJ'StlllilYlll Certified Public Accounlants TOTAL ALL FUNDS $ 1,399,587.83 482,272.89 279,988.09 $ 2,161,848.81 $ 3,779,806.86 12,655,219.37 $16,435,026.23 3,469,598.80 $12,965,427.43 $15,127,276.24 $ 40,677 .86 43,152.97 $ 83,830.83 7,788,346.00 $ 7,872,176.83 $ 222,546.00 7,032,553.41 $ 7,255,099.41 $15,127,276.24 < fo< H '" H 0: 1;1 fo< >< "'OU ii!:ijS'j fo< U < '" ....lfo<<ll <U..... fo< "' ~ H...,,,, "" 0 <1l <~,c U,,"U '" '" fo< <1l ~U"" "' H ~ ~~." 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'" ~ < <1l ,c fo< TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1982 REVENUE Real Property Taxes Special Assessments Other Tax Items Departmental Income Use of Money and Property Licenses and Permits Fines and Forfeited Bail Miscellaneous Local Sources State Aid Federal Aid Obligations Issued Transfers from (to) Other Funds TOTAL REVENUE EXPENDITURES General Government Support Public Safety Health Transportation Economic Assistance and Opportunity Culture and Recreation Home and Community Service Employee Benefits Debt Service - Principal Debt Service - Interest TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES BEFORE DEPRECIATION DEPRECIATION EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES (Forwarded) /sethre &/OSiIIliE 'fill .I Certified Public Accountants TOTAL ALL FUNDS $ 1,252,077.00 631,879.00 31,850.42 571,700.88 207,731. 61 51,709.02 24,376.15 33,621. 35 713,045.36 156,379.00 191,486.00 $ 3,865,855.79 $ 477 ,613.62 39,039.49 58,002.01 849,923.86 7,105.51 151,389.37 711,819.55 194,664.97 585,807.54 445,368.80 $ 3,520,734.72 $ 345,121. 07 316,198.55 $ 28,922.52 '" H .... 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'" '" '" .... ..... '" ..... ..... UJ. .... .... '" .... o .... .... ..... UJ. UJ. ..... o .... .... .... ..... UJ. "'" " .... o '" ..... N ~ UJ. ~ " '" o '" '" o ~ UJ. '" o .... ..... .... '" "'" ... '"' o "" Cll '"' " ..... ,c ... ..... o .... '" "'" .... '" ... '"" aI "" .... .. ... 00 Cll ... " ..... " .. Cll ... .. " ... " ~ o U ... ..... '" " ...: Cll ,c H TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1982 EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES (Forwarded) OTHER CHANGES IN FUND BALANCE Prior Period Adjustments Liabilities Paid From Appropriations Capital Outlay Paid From Appropriations Obligations Issued FUND BALANCE - January.l, 1982 FUND BALANCE - December 31, 1982 lSedolP ~Q~Ifil,'(!!1 / TOTAL ALL FUNDS $ 28,922.52 8,607.96 585,807.54 147,804.47 (191,486.00) 6,675,442.92 $ 7,255,099.41 ~ " '" ~ I'< ~ ~ M M '" HoM -; .... co "'., H ~ '"' .... m '" :z: 0 ;:1"'''' N .... 0 >< tJ "'I'< U; N CO "''"' "'><'" ZH", 0 '" '" "'~'" ... M .... '" < ,.., ": ": M M 0 8 8 8 0 c; c; c; co '" co '" ~~t:; .,.., co ,.., ... -;, ... ": c;, 0,",,,, M ,.., ... M ,",1'<'" ,.., '" '" ... M :j '" co ...:' :j <l)- I'< >< u rg~i:'J ~ '" I'< < <I)- <I)- ~ 0 ,.., ,.., N ,.., c; N N '" 0 ,..: :;;jl'<~ .... U,.., .... N '" I'< '" ~ <;, ,.., U; ,..,...,,, .,; ""O~ ,.., '" <~"' ,.., ,.., U"" tJ '" '" e <I)- <I)- ~ ~ M 0 M 0 .... N 0 .,.., M '" .; 0 ..-i ,..: I'< ~ ~U,.., 0 "' '" 0 "'....~ U; '; "' <;, ~~" "'I'< ~ ,.., ... '" '" "''''"' N ... .... '" .... tJ ~ ,.., N ,.., t::>e M ..; <I)- ~ ::; N ...... co ... U; .,..,M ": ~ '" I'< ~ 0 "'.... N '" ~U..... '" "'.... .,.., '" ",.... ~ ": NN ": U; I'<~" < I'< ~ 0 co.... N .... ~"'"' ::;. N M ,.., .... tJ ,.., ... "' "'e .; ... N '" ... M 0 0 --; "' '" .; Q) '"'''' Q) .... ,.., ... <p,.., ,.., ... '" .... Z ~ "':. -;, U; OJ U"'" oM "'> ~ '" 0 '" "' """'"' M co ,.., ., "'''" tJ N M e .... 0 <I)- <I)- ... " '" '" '" .... .,.., ,.., co .,.., N .... ..... oi ,,; ,,; '" '" ... .... '" .,.., '" 00 '" '" U; ":. Q) ..; ., 0 ... ~ .... ..... .... ~ '" <I)- Q) ... '" '" '" ~ M '" OJ 15;: '" .,.., ~ M ., ... OJ ~ oci ~ ., ~ ,.., Q) ~ ~ '" .... ... ~ 0,.., ,.., ~ ":. ,.., 0 '" ~~ "' co M U Z ,.., N ... ., '" 0 ,.., N M "'I'< oM " ~ <I)- <I)- < Q) "' ... ,.., ,.., '" I'< ..... --; '" c; ~ .,; 0 " ..... co oM ... ... .... .,.., ~ c;, ": U; ~ ~ ... .,.., .... .... 0 ... '" ... I'< ,.., N <I)- <I)- TOWN OF WAPPINGER BALANCE SHEET SPECIAL REVENUE FUND DECEMBER 31, 1982 ASSETS TOTAL CURRENT ASSETS Cash $ 319,505.91 Accounts Receivable 617.62 TOTAL ASSETS $ 320,123.53 LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable $ 562.00 FUND BALANCE Appropriated 1983 Budget $ 6,487.00 Unappropriated 313,074.53 TOTAL FUND BALANCE (Schedule 2) $ 319,561.53 TOTAL LIABILITIES AND FUND BALANCE $ 320,123.53 /sedore &)Q~lfisr!(1 FEDERAL REVENUE SHARING GEORGE SCHLATHAUS MEMORIAL FUND STREET LIGHTING DOWNSTREAM . DRAINAGE PARKLANDS DEPOSIT TRUST $ 14,270.44 $ 8,774.09 $ 213,472.59 $ 61,897.65 $ 8,807.97 617.62 $ 14,270.44 $ 9,391.71 $ 213,472.59 $ 61,897.65 $ 8,807.97 $ $ $ $ $ $ $ 6,487.00 $ $ $ 14,270.44 2,904.71 213,472.59 61,897.65 8,807.97 $ 14,270.44 $ 9,391.71 $ 213,472.59 $ 61,897.65 $ 8,807.9~: $ 14,270~44 $ 9,391.71 $ 213,472.59 $ 61,897.65 $ 8,807.97 The Audit Comments are an integral part of this report. SCHEDULE 1 DOG CONTROL PROGRAM $ 12,283.17 $ 12,283.17 $ 562.00 $ 11,721.17 $ 11,721.17 $ 12,283.17 TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND FOR THE YEAR ENDED DECEMBER 31, 1982 TOTAL REVENUE Special Assessments $ 22,017.00 Use of Money and Property 37,506.32 Licenses and Permits 51,709.02 Fines and Forfeited Bail 1,855.15 Miscellaneous Local Sources 1,465.00 Federal Aid 156,379.00 TOTAL REVENUE $ 270,931. 49 EXPENDITURES General Government Support $ 3,758.65 Public Safety 30,829.15 Health 38,124.57 Transportation 94,410.32 Economic Assistance and Opportunity 6,805.51 Culture and Recreation 23,500.00 Home and Community Service 34,089.20 TOTAL EXPENDITURES $ 231,517.40 EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES $ 39,414.09 FUND BALANCE - January 1, 1982 280,147.44 FUND BALANCE - December 31, 1982 $ 319,561.53 {Sedore . ~ O'St,!liEYlIl Cer/J/ied Public Accountants SCHEDULE 2 GEORGE FEDERAL PARKLANDS SCHLATHAUS DOG REVENUE STREET DOWNSTREAM DEPOSIT MEMORIAL CONTROL SHARING LIGHTING DRAINAGE TRUST FUND PROGRAM $ $ 22,017.00 $ $ $ $ 2,410.84 871.48 22,555.17 6,121. 75 4,454.88 1,092.20 27,407.70 11,000.00 13,301. 32 1,855.15 1,465.00 156t379.00 $160t254.84 $ 22,888.48 $ 49t962.87 $ 17 ,121. 75 $ 4,454.88 $ 16,248.67 $ 2,170.00 $ $ $ $ 1,588.65 $ 18t239.26 12,589.89 38,124.57 74,426.76 19,983.56 6,805.51 23,500.00 18,210.11 15,879.09 $181t476.21 $ 19,983.56 $ 15,879.09 $ $ 1,588.65 $ 12,589.89 $ (21 t 221. 37) $ 2,904.92 $ 34,083.78 $ 17,121. 75 $ 2,866.23 $ 3,658.78 35 t 491. 81 6,486.79 179,388.81 44 ,775 . 90 5t941. 74 8,062.39 $ 14t270.44 9,391. 71 $213,472.59 $ 61,897.65 $ 8,807.97 $ 11 , 721.17 The Audit Comments are an integral part of this report. TOWN OF WAPPINGER BALANCE SHEET WATER DISTRICTS DECm1BER 31, 1982 ASSETS TOTAL CURRENT ASSETS Cash Investments Accounts Receivable Due from (to) Other Funds TOTAL CURRENT ASSETS $ 35,909.37 112,551.88 80,084.74 (16,106.41) $ 212,439.58 FIXED ASSETS Utility Plant Less: Accumulated Depreciation TOTAL FIXED ASSETS $4,023,865.10 902,012.92 $3,121,852.18 TOTAL ASSETS $3,334,291.76 LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable $ 7,722.42 LONG-TERM DEBT PAYABLE 2,809,000.00 TOTAL LIABILITIES $2,816,722.42 FUND BALANCE Appropriated - 1983 Budget Unappropriated $ 17,494.00 500,075.34 TOTAL FUND BALANCE (Schedule 4) $ 517,569.34 TOTAL LIABILITIES AND FUND BALANCE $3,334,291. 76 {Sedore & O'St,llif){l11 CertlIJed PubliC Accountants SCHEDULE 3 CENTRAL OAKWOOD FLEETWOOD TALL TREES WAPPINGER ARDMORE WATCH HILL $ 597.15 $ (1,705.30) $ (775.06) $ 34,292.10 $ 2,296.62 . $ 1,203.86 3,500.00 72,306.68 36,745.20 4,567.20 5,529.09 5,081.19 55,394.03 1,147.18 8,366.05 (720.00) (867.00) (11,944.59) (2,574.82) $ 7,944.35 $ 2,956.79 $ (7,638.46) $ 159,417.99 $ 40,189.00 $ 9,569.91 $ 45,411.12 $ 96,212.86 $ 61,210.46 $3,530,720.28 $ 290,310.38 $ 17,029.20 32,471.82 12,242.08 811,323.32 28,946.50 $ 28,381. 92 $ 63,741.04 $ 48,968.38 $2,719,396.96 $ 261,363.88 $ $ 36,326.27 $ 66,697.83 $ 41,329.92 $2,878,814.95 $ 301,552.88 $ 9,569.91 $ $ $ 1,516.21 $ 2,530.45 $ $ 3,675.76 25,200.00 44,200.00 45,200.00 2,469,000.00 225,400.00 $ 25,200.00 $ 44,200.00 $ 46,716.21 $2,471,530.45 $ 225,400.00 $ 3,675.76 $ 4,789.00 $ $ $ 9,485.00 $ 3,220.00 $ 6,337.27 22,497.83 (5,386.29) 397,799.50 72,932.88 5,894.15 $ 11,126.27 $ 22,497.83 $ (5,386.29) $ 407,284.50 $ 76,152.88 $ 5,894.15 $ 36,326.27 66,697.83 $ 41,329.92 $2,878,814.95 $ 301,552.88 $ 9,569.91 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, 1982 REVENUE Special Assessments Departmental Income Use of Money and Property Miscellaneous Local Sources Transfer from (to) Other Funds TOTAL REVENUE EXPENDITURES Home and Community Service Debt Service - Principal Debt Service - Interest TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES BEFORE DEPRECIATION DEPRECIATION EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES OTHER CHANGES IN FUND BALANCE Liabilities Paid from Appropriations Capital Outlay Paid from Appropriations FUND BALANCE - January 1, 1982 FUND BALANCE - December 31, 1982 , {Sedore & O'SLlllil 'fill Certified Publtc Accountants TOTAL $ 290,392.00 235,255.07 13,614.63 2,006.00 539.25 $ 541,806.95 $ 206,212.45 128,299.54 157,540.79 $ 492,052.78 $ 49,754.17 100,414.69 $ (50,660.52) 128,299.54 7 , 277 . 34 432,652.98 $ 517,569.34 SCHEDULE 4 CENTRAL OAKWOOD FLEETWOOD TALL TREES WAPPINGER ARDMORE WATCH HILL $ 2,520.00 $ 4,363.00 $ 10,282.00 $ 247,008.00 $ 26,219.00 $ 10,656.26 13,927.68 14,546.99 169,639.70 4,001. 55 22,482.89 419.12 22.87 178.01 10,230.80 2,619.10 144.73 2,006.00 539.25 $ 13,595.38 $ 18,852.80 $ 25,007.00 $ 428,884.50 $ 32,839.65 $ 22,627.62 $ 11,498.09 $ 14,322.26 $ 10,232.64 $ 145,461.78 $ 2,599.33 $ 22,098.35 1,200.00 2,100.00 2,899.54 110,000.00 12,100.00 1,320.00 2,262.50 2,831.92 137,007.90 14,118.47 $ 14,018.09 $ 18,684.76 $ 15,964.10 $ 392,469.68 $ 28,817.80 $ 22,098.35 $ (442.71) $ 168.04 $ 9,042.90 $ 36,414.82 $ 4,021.85 $ 529.27 1,135.28 2,405.32 1,530.26 88,086.07 7,257.76 $ (1,557.99) $ (2,237.28) $ 7,512.64 $ (51,671.25) $ (3,235.91) $ 529.27 1,200.00 2,100.00 2,899.54 110,000.00 12,100.00 7,277.34 11,484.26 22,635.11 (15,798.47) 341,678.41 67,288.79 5,364.88 $ 11,126.27 $ 22,497.83 $ (5,386.29) $ 407,284.50 $ 76,152.88 $ 5,894.15 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, 1982 SOURCES OF WORKING CAPITAL: Operations: Excess (Deficiency) of Revenues over Expenditures Add: Liabilities Paid by Appropriations Capital Expenditures out of 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 Purchase of Land TOTAL USES OF WORKING CAPITAL NET INCREASE (Decrease) IN WORKING CAPITAL NET CHANGE IN WORKING CAPITAL ACCOUNTS Cash Accounts Receivable Investments Due from Other Funds Accounts Payable Retained Percentages, Contracts Payable Due to Other Funds NET INCREASE (DECREASE) IN WORKING CAPITAL (Sedore & (J'St/!JiEYlll Certified Public Accountants TOTAL $ (50,660.52) 128,299.54 7 ,277 . 34 $ 84,916.36 100,414.69 $ 185,331.05 $ 127,850.00 7,277.34 $ 135,127.34 $ 50,203.71 $ (82,024.05) 6,498.27 112,551.88 12,304.57 423.50 44-9.54 $ 50,203.71 SCHEDULE 5 OAKWOOD FLEETWOOD TALL TREES CENTRAL WAPPINGER ARDMORE WATCH HILL $ (1,557.99) $ (2,237.28) $ 7,512.64 $ (51,671.25) $ (3,235.91) $ 529.27 1,200.00 2,100.00 2,899.54 1l0,000.00 12,100.00 7.277.34 $ (357.99) $ (137.28) $ 10,412.18 $ 65,606.09 $ 8,864.09 $ 529.27 1,135.28 2,405.32 1,530.26 88,086.07 7,257.76 $ 777.29 $ 2,268.04 $ 1l,942.44 $ 153,692.16 $ 16,121.85 $ 529.27 $ 1,200.00 $ 2,100.00 $ 2,450.00 $ 110,000.00 $ 12,100.00 $ 7 ,277 . 34 $ 1,200.00 $ 2,100.00 $ 2,450.00 $ 117 , 277. 34 $ 12,100.00 $ $ (422.71) $ 168.04 $ 9,492.44 $ 36,414.82 $ 4,021.85 $ 529.27 $ (3,602.61) $ (1,730.31) $ (901. 85) $ (41,535.24) $(32,957.69) $ (1,296.35) (320.10) 1,129.08 770.93 4,737.72 234.34 (53.70) 3,500.00 72,306.68 36,745.20 769.27 9,173.82 482.16 1,879.32 423.50 449.54 $ (422.71) $ 168.04 $ 9,492.44 $ 36,414.82 $ 4,021. 85 $ 529.27 The Audit Comments are an integral part of this report. TOWN OF WAPPINGER BALANCE SHEET SEWER DISTRICTS DECEMBER 31, 1982 ASSETS CURRENT ASSETS Cash Accounts Receivable Investments 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 LONG TERM DEBT PAYABLE TOTAL LIABILITIES FUND BALANCE Appropriated - 1983 Budget Unappropriated TOTAL FUND BALANCE (Schedule 7) TOTAL LIABILITIES AND FUND BALANCE {Sedore &O'StIIUlYlll CertifIed Public Accountants TOTAL $ (8,531. 63) 106,058.73 182,921.01 1,842.38 $ 282,290.49 $8,631,354.27 2,567,585.88 $6,063,768.39 $6,346,058.88 $ 10,351.58 3,136,300.00 $3,146,651.58 $ 48,565.00 3,150,842.30 $3,199,407.30 $6,346,058.88 SCHEDULE 6 SEWER MID POINT IMPROVEMENT PARK FLEETWOOD ROCKINGHAM WILDWOOD AREA fI1 WATCH HILL $ (671.91) $ 476.86 $ (15t826.13) $ 13 t 381. 61 $ (5t892.06) $ 16t467.57 13t767.04 35t472.09 12 t572. 60 27t779.43 8 t 921. 01 22tOOO.00 20tOOO.00 114tOOO.00 18tOOO.00 (348.00) (580.00) (931. 00) 4t263.38 (562.00) $ 24t368.67 $ 35,663.90 $ 38t714.96 $ 144,217.59 $ 39t325.37 $ $728,074.47 $ 151,271. 35 $2,973t601.06 $ 371t847.42 4,406t559.97 $ 144,452.41 51,054.03 1,224t572.16 74,018.65 1,073,488.63 $583,622.06 $.100,217.32 $1,749t028.90 $ 297t828.77 $3,333.071. 34 $607,990.73 $ 135,881. 22 $lt787,743.86 $ 442,046.36 $3,372,396.71 $ $ $ $ 1,000.00 $ 4t843.38 $ 4,508.20 $ 18,100.00 68,000.00 305,000.00 2,745,200.00 $ 18,100.00 $ 68,000.00 $ 1,000.00 $ 309t843.38 $2,749,708.20 $ $ $ 17,437.00 $ 15,736.00 $ 15,392.00 $ $ 589,890.73 50,444.22 1,771,007.86 116,810.98 622,688.51 $589,890.73 $ 67,881. 22 $1,786,743.86 $ 132,202.98 $ 622,688.51 $ $607,990.73 $ 135,881. 22 $1,787,743.86 $ 442,046.36 $3,372,396.71 $ 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, 1982 REVENUE Special Assessments Departmental Income Use of Money and Property State Aid Transfer from (to) Other Funds 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 FUND BALANCE - January 1, 1982 FUND BALANCE - December 31, 1982 {Sedore &; D'St,lIil'tlll Certified Public Accountants TOTAL $ 319,470.00 312,350.41 17 ,381. 25 67,003.34 (539.25) $ 715,665.75 $ 401,917.93 144,350.00 175,118.19 $ 721,386.12 . $ (5,720.37) 215,783.86 $ (221,504.23) 144,350.00 3,276,561.53 $3,199,407.30 SCHEDULE 7 SEWER MID POINT IMPROVEMENT PARK FLEETWOOD ROCKINGHAM WILDWOOD AREA ill WATCH HILL $ 2.135.00 $ 7.193.00 $ $ 29.744.00 $ 280.398.00 $ 49.047.58 34.605.52 98.371. 76 52.110.80 78.214.75 651. 93 1.347.13 1.641.15 7.855.48 5.885.56 6.656.70 7.243.95 19.800.45 7.693.29 25.608.95 (539.25) $ 58.491.21 $ 49.850.35 $ 119,813.36 $ 97.403.57 $ 390.107.26 $ $ 38.579.13 $ 32.708.99 $ 138.135.82 $ 49.868.52 $ 142.625.47 $ 1,000.00 3.700.00 13.000.00 126.650.00 1.134.60 3.492.50 16.743.12 153.747.97 $ 40,713.73 $ 39,901. 49 $ 138.135.82 $ 79.611. 64 $ 423.023.44 $ $ 17.777.48 $ 9.948.86 $ (18.322.46) $ 17.791. 93 $ (32.916.18) $ 18,201. 86 3.781. 78 74.340.03 9.296.19 110.164.00 $ (424.38) $ 6.167.08 $ (92.662.49) $ 8.495.74 $ (143.080.18) . $ 1.000.00 3.700.00 13.000.00 126.650.00 589,315.11 58.014.14 1.879.406.35 110.707.24 639.118.69 $589,890.73 $ 67.881. 22 $1.786.743.86 $ 132.202.98 $ 622.688.51 $ 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, 1982 SOURCES OF WORKING CAPITAL: Operations: Excess (Deficiency) of Revenue Over Expenditures Add: Liabilities Paid by Appropriation 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 Investments Due from Other Funds Accounts Payable Due to Other Funds NET INCREASE (DECREASE) IN WORKING CAPITAL {sfLlore & O'St,!lilYlll Certified Public Accountants TOTAL $ (221,504.23) 144,350.00 $ (77,154.23) 215,783.86 $ 138,629.63 144,350.00 $ (5,720.37) $ (225,124.89) 13,074.29 182,921.01 4,843.38 18,565.84 $ (5,720.37) SCHEDULE 8 FLEETWOOD WILDWOOD SEWER IMPROVEMENT AREA fI1 WATCH HILL MID POINT PARK ROCKINGHAM $ (424.38) $ 6,167.08 $ (92,662.49) $ 8,495.74 $ (143,080.18) $ 1,000.00 3,700.00 13,000.00 126,650.00 $ 575.62 $ 9,867.08 $ (92,662.49) $ 21,495.74 $ (16,430.18) $ 18,201. 86 3,781. 78 74,340.03 9,296.19 110,164.00 $ 18,777 .48 $ 13,648.86 $ (18,322.46) $ 30,791. 93 $ 93,733.82 $ 1,000.00 3,700.00 13,000.00 126.650.00 $ 17,777.48 $ 9,948.86 $ (18,322.46) $ 17,791. 93 $ (32,916.18) $ 10,478.61 (1,000.00) $ (92,545.07) $ (3,663.00) 114,000.00 4,843.38 (4,843.38) (63,000.79) 1,032.19 18,000.00 $ (8,911.64) $ (15,412.62) $ 7,289.50 483.29 8,921.01 22,000.00 (45,254.77) 7,932.31 . 20,000.00 2,878.19 11,052.42 $ 17,777.48 $ 9,948.86 $ (18,322.46) $ 17,791.93 $ (32,916.18) $ The Audit Comments are an integral part of this report. TOWN OF WAPPINGER BALANCE SHEET CAPITAL PROJECTS FUND DECEMBER 31, 1982 {Sedore & rJ'SLIIliE 'fill Cerllf1ed Public Accountants 0 0 0 0 ~ '" ~ '" '" "" "" "" ...; " r- r- r- r- gj,di 0 ~ ~ ~ H",H U"\ U"\ U"\ U"\ ~iil;:! H H H H :cuA <Il- <Il- <Il- ~ .... N N N N 0 N N ~ N '" H ...; ...; ...; ll> Z '" "" .... H " N N N N O~< .-;. .-;. .-;. .-;. III '" Z ..... H "" "" "" "" .c eo..;:! CO CO CO CO .., :>: A <Il- <Il- .... 0 .., .... " '" ~, ~ ~ ~ H H 0 0 H H 0 Z 0 0 r- r- 0 " I=<~~ .;, .;, .... 0 0 0 00 ~~~ 0 0 "" "" 0 ll> "" "" ..... .-;. "';. .., .; ~ " till=< "" '" "" ..... ~ N N ~ N " ~ ~ ~ <Il- <Il- <Il- " ll> .... " N N N N III ~ ~ '" ~ .., '""' ..: " ~ r- r- r- ll> H H H H ~ "';. "';. "" "';. 0 ~ "" "" "" "" U '" '" '" '" 0 "" "" "" "" .., H <Il- <Il- <Il- <Il- ..... "" ~ ~ H ~ '" '" '" '" "'H CO CO CO CO ",... 0 0 0 <U 0 Z::> "" "" "" "" HI=< "';. "';. "';. "';. ;:!~ r- r- ..... ..... <=>Z "" "" "" "" 0 U <Il- <Il- <Il- TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND FOR THE YEAR ENDED DECEMBER 31, 1982 TOTAL STORM SEWER REVENUE Use of Money and Property $ 76,347.54 $ 1,907.19 Obligations Issued 191,486.00 State Aid 42,735.00 Transfer from (to) Other Funds (277 ,418.81) TOTAL REVENUE $ 33,149.73 $ 1,907.19 EXPENDITURES Public Safety $ 8,210.34 $ Transportation 18,619.00 Debt Service Interest 4,843.38 TOTAL EXPENDITURES $ 31,672.72 ~ EXCESS (Deficiency) of REVENUES OVER EXPENDITURES $ 1,477.01 $ 1,907.19 FUND BALANCE - January 1, 1982 615,120.21 15,487.68 FUND BALANCE - December 31, 1982 $ 616,597.22 $ 17,394.87 }sedore &)Q~'(j,!l 0 ~ J 0 ~1 ~\ c::; c::; t5 '" '" '" '" c.: .0: ~ ~ ",~z ,",",H M M S:;J;a :x:U<=> <J>- <J>- <J>- ..; M ~ ~ ... M M 0 .-; M .-; '" e \ ~ OJ Z "' ~ ~ ... ~~~ M M M .-;, M .-;, III .; .... a> a> .c ~"";a ... :<: <=> <J>- <J>- <J>- ..... 0 ... ... :g,/ '"' J J ~~ M ZN III el~"" ... "" OJ :>:>(:i ... " ~~~ .... ~ " H <J>- <J>- III OJ ... III <:t) 8 <:t) <:t) i\ ~ Ul a> 0 a> '" ... ~ 0 0 " 0 0 OJ ~ 0 ~ ~ I M. e::;, M M ~ ~ N .; ...,. u ...,. M M M ~ ... '"' <J>- <J>- .... "g .0: OJ .c '"' 6 ~ ~ \ J ~ 1 ~ '" 0 '" '" ",H 0; c::; 0 c::; c.>,", .o:u M ~ ...,. ...,. ~~ '" '" ...,. ...,. .-;, ": co ~ ;a~ M M 0 0 <=>z H e !:;. !:;. 0 U <J>- <J>