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1983-12-31 TOWN OF WAPPINGER AUDIT REPORT DECEMBER 31, 1983 FEBRUARY 29, 1984 R~CE'VED (MARSO 1984 EIJINE If. SNOWDEN {Sedore & rJ'StIIliE'flll Certified Public Accountants {Sedore &O'Su/livan February 29, 1984 Certified Public Accountants Mr. Francis J. Versace, Supervisor Members of the TawnBoard 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, 1983 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, 1983, 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;?Zkf;'S ames L. Sedore, Jr. Certified Public Accountant JLS:fs Ene. Statements f 90 East Main Street Wappingers Falls, N. Y. 12590 914297-1111 TOWN OF WAPPINGER TABLE OF CONTENTS DECEMBER 31, 1983 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'StllE1ft11 Certified Public Accountants TOWN OF WAPPINGER COMMENTS FOR THE YEAR ENDED DECEMBER 31, 1983 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 & VSttllit1{Jll 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: During the year under review, the town changed its method of recording retirement expense. In the past the expense was recorded when payment was made to the Retirement Fund. Currently the expense is recorded in the year service is rendered. As a result an adjustment to the opening Fund Balance was necessary for the unpaid retirement cost at December 31, 1982. 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-Municipa1): 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. 9. Federal Revenue Sharing Aid: During the year under review, the town changed its method of recording Federal Revenue Sharing Aid. In the past the revenue was recorded as received. Currently the revenue is recorded annually on July 1, when the Grant is awarded. As a result an adjustment to the opening Fund Balance was necessary for the amount due the Town at December 31, 1982. {)f1Iore & O'SttlJif.){l11 Certified Public Accountants 10. City of New York vs. Town of Wappinger: During the year under review, a final determination was made regarding a suit initiated by the City of New York against a number of municipal entities including the town. As a result it was determined the town must reimburse the City of New York for real property taxes illegally assessed amounting to $317,905, payable quarterly over five years with no penalty or interest. As a result an adjustment to the opening Fund Balance was necessary. 11. Tax Receiver's Fund: At December 31, 1983 there remained an unreconciled cash balance in the Tax Receiver's bank account. As a result, the balance in the account, $4,535.67, was transferred to the Trust and Agency Fund to cover any future claims. At that time it was decided an audit to determine the specifics of the unreconciled balance was not practical. {Sffiore ffiO'SttlJif){l11 Certilied PublIC Accountants TOWN OF WAPPINGER BALANCE SHEET DECEMBER 31, 1983 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 - 1984 Budget Unappropriated TOTAL FUND BALANCE (EXHIBIT B) TOTAL LIABILITIES AND CAPITAL {Sedore & O'St,lIil'flll Certified Publ1c Accountants TOTAL ALL FUNDS $ 2,556,690.00 156,403.75 232,535.67 $ 2,945,629.42 $ 4,127,241. 94 13,096,970.98 $17,224,212.92 3,796,841.15 $13,427,371.77 $16,373,001.19 $ 190,181.65 203,011.55 $ 393,193.20 8,268,625.20 $ 8,661,818.40 $ 647,549.00 7,063,633.79 $ 7,711,182.79 $16,373,001.19 .,; '" H '" H ~ '" ~~~ 0"'''' '"''"'" >< '" U Ul"'Z gJ~~ '" .,; ~ ~~~ '" '" ~ H,">'" " 0 <l) <<"'''' U" " e ~ '" Ul '" <l) "'U..., "'H~ ~"'''' '" '" <l) UlUl'" H " "'e Ul '" <l) "'U..., '" H ~ ,"",,,, <<'" <l) ~Ul'" H " "'e '"' '" <l) <<::>..., H Z ~ U"'''' '" > <l) ""'''' Ul '" " e ':1",Ul OJ",," "'><'" ZHUl "''''Ul '" << I ", ", '" V') '" '" ..... ..... 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'" '" M o N o N o '" V') '" '" V') N N '" .... .... .... '" M ", NON '" 0 '" '" 0 '" o '" V') ..... '" M NOM N 00 0 '" .... N N <I> "'" o N ..., ..... '" ..., '" N "'" .... '" ..,. M ..,. ..... V') <I> o o V') '" .,., N <I> "'" <I> 00 N ..., '" ..., '" N ..., <I> o o ..., N N ..... N M <I> .... .... .... '" '" '" ..., ..., ..., ..,. .... ... N N N ..... ..... .... N N N ..., ..., ..., ... ... ... "'" "'" "'" 0' 8 o 0 .... .... V') V') '" '" M M '" '" 00 '" d. 0 "'" "'" <I> .... '" ... M ... ..... .,., "'" "'" "'" ... '" ... '" o o N V') o V') .... '" V') '" ..... ..... o V') o o N V') o '" "'" "'" <I> 0'" o V') V')M "'''' V')M 00'" ... '" o ,.; '" V') '" N '" ..... ... ..., M ..., '" .... N '" o N '" ..,; "'" 00 0'" ....00 "'''' ~~ .....0 ""00 V') o '" N '" N '" '" V') N N N .... '" ..., o M M "'" "'" "'" 00 ~~ .....0 00..., ..,.M "'''' 00 V') o 0 V') V') ..... ..... '" '" ..... ..... V') V') '" '" V') V') "'" "'" "'" 0"," ~ N oeo co r-t 0,.... ,..., 0\ ON N CO Or-t r-I N 0("\ t""I 0\ ..::t1oO 0 N ..., N "'" "'" <I> ~ OH 0'" ..,.M ..,.V') HO 0'" H '" N~ "'" ... .. o ." .. .. ., .... '" ... .... o / ... .. OS ." ..., OS .. 00 .. ... " .... " OS .. .. OS ., ... " ~ U ... .... ." ~ .. t; TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1983 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) !Set/OlE &O'St/IliE'flll Certified Public Accountants TOTAL ALL FUNDS $ 1,457,816.85 611,779.11 32,575.64 749,928.74 225,938.48 177,363.72 24,410.30 18,164.67 665,724.01 157,522.00 674,950.00 $ 4,796,173.52 $ 551,904.94 53,288.60 37,999.99 1,053,112.19 300.00 162,046.74 1,244,716.48 212,666.17 460,680.31 417,565.62 $ 4,194,281.04 $ 601,892.48 327,242.35 $ 274,650.13 "" E-< H "" ~ '" ~~~ 0"'", ,...,E-<O >-< E-< <.1 UlOZ ~~~ Ul ,..., E-< ~ <<.1.... E-< '" ~ H""'", Po. 0 ~ <~..c <.1 Po. " e Ul E-< ~ "'<.1.... 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HH N CO -0 N o CO '" vr V> vr V> V> V> " N 00 00 H '" '" N ~ 00 N -0 '" .... H H :j V> V> 00 .... .... 00 " '" 00 '" " " '" .... '" N H N H V> V> " -0 ..,. 00 o " '" -0 0- ..,. o o ..,. H " ~ V> V> .... N -0 H N .... H H " '" o N H 00 o N V> V> '" 00 " H N -0 '" ..... 00 .... .... .... .... 00 '" V> V> ..... ..... 0- o '" H ..,. N ..... ~ ..,. 00 '" o .... N V> 00 00 -0 00 .... .... 00 ..... .... ..,. -0 -0 00 o o ..,. V> V> N '" ..... 00 ..,. .... o H V> 00 .... .... .... .... 00 '" V> ~ .... ..,. -0 -0 00 o o ..,. V> V> V> ;;;- N '" '" .... ..... ..... :j .". ~ ~ N '" ..... 00 00 ..,. ..... :j .". ..... '" o N H 00 o N .... ... o "- Q) ... ., .,., ..c .... .... o '"" " .. "- ..... .. ... 00 Q) .... " .,., " .. Q) ... ., ., .... " Q) e o <.1 .... .,., '" ;:l < Q) ..c E-< TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED DECEMBER 31, 1983 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 1, 1983 FUND BALANCE - December 31, 1983 {Sedore & rJ'St,/IiE'flll Certified Public Accountants TOTAL ALL FUNDS $ 274,650.13 093,483.75) 460,680.31 789,186.69 (674,950.00) 7,255,099.41 $ 7,711,182.79 ::0 '" w ~ .... = 00 '" "" '"' .~ 0 a; co: "''' .,; '"' c ,..., '" M :>: 0 ;::i"'''' 0"\ 0 "" >< U "'.... ";. 00 ~ "'~ "'><'" Z,",'" .... '" .... "',..'" "" .... N " ..: 0"\ ": ';. 0"\ "" ", 8 8 ~ 0 0 c:: 0 ': c:: N 0 '" "" "" VI "" VI ~~~ '; ": 0 '" 0"'", '" "" '" 0"\ ,...,....'" 00 0"\ '" '" M ~ 00 00 8 8 ", .... .. u "''''z ~~t5 H ... ", ~ ~ 0 00 N '" .-< ": N '" '" ,..: 0 ""'''''OJ '" ":u.-< '" '" 0 ....'" ~ '; ":. N '"'"" '" ,,"0 OJ M '" ..."'.c .-< M 0 U,," u 8 '" VI ;:::. ", ", ~ o-.:to ;::- V\ 0 '" "" 0....0 0"\ VI '" ,..: ,..: cO .... OJ 0000 ",u.-< '" VI 0"\0 0 N "''"' ~ ": "'000 "" '" :;:"'" ~ ...: "'.... OJ 0"\ 0"\000 "'",.c ~ "".-<'" '" '" '"' u ...-1M:::' .-< .-< "';:::' ...; ...; ", :; ;;- .-< .... "" 0 '" '" 0"\ 00 0"\ '" .... OJ ,..: ,;, N ",U.-< OON "''"' ;:l 00 00.-< '" 00 ...."'" ex;. "''''' ":. N ....... OJ ~U)..c "" NN .... 00 '"' <J .... O"\N .-< '" "';:::' 8 M.-< VI VI ", " ;;-1 ... .... 0 0"\ 0 0 '" c:: "; "; "'- :;;J"'OJ 0 OJ ::OM VI M .... ... '"'z ;:l N M '" '" "' u",,, ';. ';. ":. .... "':> OJ '" ..-! ,,""'.c 00 00 '" J: ",", u 0 '" .-< '" " e N 0"\ VI .... 0 ", ::: " ~ "'- 00 VI .-< "" .-< 0"\ N .... 00 ...; N .0 ,..: " ... 0"\ 0 '" N 00 0"\ .... "" M OJ cO ~ " "" 0"\ " '" ~ .... 0 ..-! M " " ",1 OJ ... " 8 8 ~ "' '" M 0 ': 0"\ ": ... ,;, cO " '" '" OJ .-< 0"\ "" 0 m ";. ": ";. '" '" 0 N '" 0"\ U .... N "" ~ ... ~ 0"\ 0"\ ~ ..-! " ", ", ~ OJ ~ .c 0"\ 0 '" '" .... OJ "" VI c:: '" " .0 ,..: 00 .0 .~ '" V\ VI '" "' ex;. '" ~ .-< " .; ...; :. 0 .... 0 0 ~ "" 00 .... "" N VI ",1 TOWN OF WAPPINGER BALANCE SHEET SPECIAL REVENUE FUND DECEMBER 31, 1983 ASSETS TOTAL CURRENT ASSETS Cash $ 523,205.65 Accounts Receivable 72,589.25 Due from (to) other Funds 2.60 TOTAL ASSETS $ 595,797.50 LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable $ FUND BALANCE Appropriated 1984 Budget $ 6,487.00 Unappropriated 589,310.50 TOTAL FUND BALANCE (Schedule 2) $ 595,797.50 TOTAL LIABILITIES AND FUND BALANCE $ 595,797.50 {Set/OIl! &O'St,!liEYlll Cerlilied Public Accountants SCHEDULE 1 P ARKLANDS DEPOSIT TRUST GEORGE SClIT.ATHAUS MEMORIAL FUND DOG CONTROL PROGRAM STOP DWI PROGRAM FEDERAL REVENUE SHARING STREET LIGHTING DOWNSTREAM DRAINAGE .$ 91,733.39 $ 5,097.21 $ 287,241.03 $ 110,633.05 $ 11,659.56 $ 15,903.73 $ 937.68 71,002.00 1,587.25 2.60 $ 162,735.39 $ 6,684.46 $ 287,241.03 $ 110,633.05 $ 11,662.16 $ 15,903.73 $ 937.68 $ $ $ $ $ $ $ $ $ 6,487.00 $ $ $ $ $ 162,735.39 197.46 287,241.03 110,633.05 11,662.16 15,903.73 937.68 $ 162,735.39 $ 6,684.46 $ 287,241.03 $ 110,633.05 $ 11,662.16 $ 15,903.73 $ 937.68 $ 162,735.39 $ 6,684.46 $ 287,241.03 $ 110,633.05 $ 11,662.16 $ 15,903.73 $ 937.68 The Audit Comments are an integral part of this report TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND FOR THE YEAR ENDED DECEMBER 31, 1983 REVENUE Special Assessments Use of Money and Property Licenses and Permits Fines and Forfeited Bail Federal Aid Transfers from (to) other Funds TOTAL REVENUE EXPENDITURES General Government Support Public Safety Health Transportation Economic Assistance and Opportunity Culture and Recreation Home and Co~unity Service TOTAL EXPENDITURES EXCESS (Deficiency) OF REVENUE OVER EXPENDITURES OTHER CHANGES IN FUND BALANCE Prior Period Adjustments FUND BALANCE - January 1, 1983 FUND BALANCE - December 31, 1983 {Set/ore & O'SttllilYlll CertJlied PublIC Accountants TOTAL $ 16,763.00 34,255.27 177,363.72 3,029.80 139,032.00 (49,106.59) $ 321,337.20 $ 15 ,841. 00 12,736.26 44,638.39 25,000.00 15,000.58 $ 113,216.23 $ 208,120.97 68,115.00 319,561. 53 $ 595,797.50 SCHEDULE 2 GEORGE FEDERAL PARKLANDS SCHLATHAUS DOG STOP REVENUE STREET DOWNSTREAM DEPOSIT MEMORIAL CONTROL DWI SHARING LIGHTING DRAINAGE TRUST FUND PROGRAM PROGRAM $ $16,763.00 $ $ $ $ $ 4,105.79 351.86 17,896.17 5,735.40 4,988.37 1,112.88 64.80 119,084.60 43,000.00 12,594.60 2,684.52 3,029.80 139,032.00 (31,672 . 44) (17,434.15) $ 111,465.35 $17,114.86 $ 119,546.62 $ 48,735.40 $ 4,988.37 $ 16,737.28 $2,749.32 $ $ $ 12,076.72 $ $ 2,134.18 $ $1,630.10 12,554.72 181.54 6,115.40 19,822.11 18,700.88 25,000.00 15,000.58 $ 31,115.40 $19,822.11 $ 45,778.18 $ $ 2,134.18 $ 12,554.72 $1,811. 64 $ 80,349.95 $(2,707.25) $ 73,768.44 $ 48,735.40 $ 2,854.19 $ 4,182.56 $ 937.68 68,115.00 14,270.44 9,391. 71 213,472.59 61,897.65 8,807.97 11,721.17 $ 162,735.39 $ 6,684.46 $ 287,241.03 $ 110,633.05 $ 11,662.16 $ 15,903.73 $ 937.68 The Audit Comments are an integral part of this report TOWN OF WAPPINGER BALANCE SHEET WATER DISTRICTS DECEMBER 31, 1983 ASSETS TOTAL CURRENT ASSETS Cash Investments Accounts Receivable Due from (to) other Funds TOTAL CURRENT ASSETS $ 71 ,227 .43 96,589.54 (7,452.28) $ 160,364.69 FIXED ASSETS Utility Plant Less: Accumulated Depreciation TOTAL FIXED ASSETS $4,146,777.97 (1,005,500.44) $3,141,277.53 $3,301,642.22 TOTAL ASSETS LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable $ 22,709.62 LONG-TERM DEBT PAYABLE 2,680,650.00 TOTAL LIABILITIES $2,703,359.62 FUND BALANCE Appropriated - 1984 Budget Unappropriated $ 17 ,494. 00 580,788.60\ TOTAL FUND BALANCE (Schedule 4) $ 598,282.60 TOTAL LIABILITIES AND FUND BALANCE $3,301,642.22 {Sedore &; rJ'Stlllil'flll Certlll&d Public Accountants SCHEDULE 3 CENTRAL OAKWOOD FLEETWOOD TALL TREES WAPPINGER ARDMORE WATCH HILL $ 105.12 $ 37.86 $ 1,000.27 $ 16,753.78 $ 47,357.08 $ 5,973.32 4,422.00 6,417.93 4,945.40 60,631.26 11,109.72 9,063.23 (318.00) (7,134.28) $ 4,527.12 $ 6,137.79 $ (1,1~8.61) $ 77,385.04 $ 58,466.80 $ 15,036.55 $ 45,411.12 $ 96,212.86 $ 61,210.46 $3,653,633.15 $ 290,310.38 $ (18,164.48) (34,877 .14) (13,772.34) (902,482.22) (36,204.26) $ 27,246.64 $ 61,335.72 $ 47,438.12 $2,751,150.93 $ 254,106.12 $ $ 31,773.76 $ 67,473.51 $ 46,249.51 $2,828,535.97 $ 312,572.92 $ 15,036.55 $ 39.50 $ 2,091. 30 $ 80.58 $ 20,329.94 $ 38.76 $ 129.54 24,000.00 41,600.00 42,750.00 2,359,000.00 213,300.00 $ 24,039.50 $ 43,691. 30 $ 42,830.58 $2,379,329.94 $ 213,338.76 $ 129.54 $ 4,789.00 $ $ $ 9,485.00 $ 3,220.00 $ 2,945.26 23,782.21 3,418.93 439,721. 03 96,014.16 14,907.01 $ 7,734.26 $ 23,782.21 $ 3,418.93 $ 449,206.03 $ 99,234.16 $ 14,907.01 $ 31,773.76 $ 67,473.51 $ 46,249.51 $2,828,535.97 $ 312,572.92 $ 15,036.55 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, 1983 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, 1983 FUND BALANCE - December 31. 1983 {jalore &; O'St,!liE'tlll CertIfIed PublIc Accountants TOTAL $ 284,104.11 266,148.25 18.357.17 7,074.74 $ 575,684.27 $ 363,884.14 132,688.31 150,512.22 $ 647,084.67 $ (71,400.40) 103,487.52 $(174,887.92) 132,688.31 122,912.87 517,569.34 $ 598,282.60 SCHEDULE 4 CENTRAL OAKWOOD FLEETWOOD TALL TREES WAPPINGER ARDMORE WATCH HILL $ 2,460.00 $ 4,745.00 $ 10,373.11 $ 241,045.00 $ 25 ,481. 00 $ 10,695.30 14,965. 72 14,492.61 182,213.60 20,197.11 23,583.91 426.09 36.06 125.26 13,592.54 3,974.79 202.43 6,500.00 574.74 $ 13,581. 39 $ 19,746.78 $ 24,990.98 $ 443,351.14 $ 49,652.90 $ 24,361. 08 $ 14,578.12 $ 13,912.08 $ 11,973.02 $ 302,139.17 $ 5,933.53 $ 15,348.22 1,200.00 2,600.00 6,788.31 110,000.00 12,100.00 1,260.00 2,145.00 2,682.48 131,044.41 13,380.33 $ 17,038.12 $ 18,657.08 $ 21,443.81 $ 543,183.58 $ 31,413.86 $ 15,348.22 $ (3,456.73) $ 1,089.70 $ 3,547.17 $ (99;832~44) $ 18,239.04 $ 9,012.86 1,135.28 2,405.32 1,530.26 91,158.90 7,257.76_ $ (4,592.01) $ (1,315.62) $ 2,016.91 $ (190,991. 34) $ 10,981. 28 $ 9,012.86 1,200.00 2,600.00 6,788.31 110,000.00 12,100.00 122,912.87 11,126.27 22,497.83 (5,386.29) 407,284.50 76,152.88 5,894.15 $ 7,734.26 $ 23,782.21 $ 3,418.93 $ 449,206.03 $ 99,234.16 $ 14,907.01 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 DEC~mER 31. 1983 SOURCES OF WORKING CAPITAL Operations: Excess (Deficiency) of Revenues 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 Purchase of Land TOTAL USES OF WORKING CAPITAL NET INCREASE (DECREASE) I~ 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 & O'St,lIil1flll CertJl,ed Public Accountants TOTAL $ (174.887.92) 132,688.31 $ ( 42.199.61) 103.487.52 $ 61,287.91 $ 128,350.00 $ 128,350.00 $ (67,062.09) $ 35.318.06 16,504.80 (112,551.88) (14.987.20) 8,654.13 $ (67,062.09) SCHEDULE 5 TALL TREES CENTRAL WAPPINGER ARDMORE OAKWOOD FLEETWOOD WATCH HILL $ (4,592.01) $ (1,315.62) $ 2,016.91 $ (190,991.34) $ 10,981. 28 $ 9,012.86 1,200.00 2,600.00 6,788.31 110,000.00 12,100.00 $ (3,392.01) $ 1,284.38 $ 8,805.22 $ (80,991.34) $ 23,081. 28 $ 9,012.86 1,135.28 2,405.32 1,530.26 91,158.90 7,257.76 $ (2,256.73) $ 3,689.70 $ 10,335.48 $ 10,167.56 $ 30,339.04 $ 9,012.86 $ 1,200.00 $ 2,600.00 $ 2,450.00 $ 110,000.00 $ 12,100.00 $ $ 1,200.00 $ 2,600.00 $ 2,450.00 $ 110,000.00 $ 12,100.00 $ $ (3,456.73) $ 1,089.70 $ 7,885.48 $ (99,832.44) $ 18,239.04 $ 9,012.86 $ (492.03) $ 1,743~16 $ 1,775.33 $ (17,538.32) $ 45,060.46 $ 4,769.46 (145.20) 888.84 (135.79) 5,237.23 9,962.54 697.18 (3,500.00) (72,306.68) (36,745.20) (39.50) (2,091.30) 1,435.63 (17,799.49) (38.76) 3,546.22 720.00 549.00 4,810.31 2,574.82 $ (3,456.73) $ 1,089.70 $ 7,885.48 $ (99,832.44) $ 18,239.04 $ 9,012.86 The Audit Comments are an integral part of this report TOWN OF WAPPINGER BALANCE SHEET SEWER DISTRICTS DECEMBER 31, 1983 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 - 1984 Budget Unappropriated TOTAL FUND BALANCE (Schedule 7) TOTAL LIABILITIES AND FUND BALANCE {Sedore &rJ'St,llif){JJI Certil""d Public Accountants TOTAL $ 308.793.64 156.403.75 (3,524.88) $ 461,672.51 $8.950,193.01 (2.791,340.71) $6.158,852.30 $6,620.524.81 $ 39,946.22 3,432.650.00 $3,472.596.22 $ 48.565.00 3,099,363.59 $3,147.928.59 $6,620.524.81 SCHEDULE 6 SEWER MID POINT IMPROVEMENT PARK FLEETWOOD ROCKINGHAM WILDWOOD AREA 111 WATCH HILL $ 23,364.05 $ 13,322.23 $ (15,792.88) $ 90,468.45 $ 197,431.79 $ 18,556.27 15,280.11 67,692.70 597.08 54,277.59 (3,524.88) $ 41,920.32 $ 28,602.34 $ 48,374.94 $ 91,065.53 $ 251,709.38 $ $728,074.47 $151,271.35 $2,973,601. 06 $371,847.42 $4,725,398.71 $ (162,654.27) (54,835.81) (1,298,912.19) (83,314.84) (1,191,623.60) $565,420.20 $ 96,435.54 $1,674,688.87 $288,532.58 $3,533,775.11 $607,340.52 $125,037.88 $1,723,063.81 $379,598.11 $3,785,484.49 $ $ 5,889.56 $ 91. 30 $ 421. 78 $ $ 33,543.58 $ 17,100.00 64,000.00 292,000.00 3,059,550.00 $ 22,989.56 $ 64,091. 30 $ 421. 78 $292,000.00 $3,093,093.58 $ $ $ 17,437.00 $ 15,736.00 $ 15,392.00 $ $ 584,350.96 43,509.58 1,706,906.03 72,206.11 692,390.91 $584,350.96 $ 60,946.58 $1,722,642.03 $ 87,598.11 $ 692,390/.91 $ $607,340.52 $125,037.88 $1,723,063.81 $379,598.11 $3,785,484.49 $ 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, 1983 REVENUE Special Assessments Departmental Income Use of Money and Property Obligations Issued State and Federal Aid TOTAL REVENUES EXPENDITURES Home and Community Services Transfer to other Funds 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 Obligations Issued FUND BALANCE - January 1, 1983 FUND BALANCE - December 31, 1983 {Sedore &O'Sttllil)flll Certified PublIC Accountants TOTAL $ 310,912.00 366,671.22 30,277.26 440,000.00 86,993.80 $1,234,854.28 $ 774,156.93 143,650.00 167,259.97 $1,085,066.90 $ 149,787.38 223,754.83 $ (73,967.45) 143,650.00 318,838.74 (440,000.00) 3,199,407.30 $3,147,928.59 SCHEDULE 7 SEWER MID POINT IMPROVEMENT PARK FLEETWOOD ROCKINGHAM WILDWOOD AREA 111 WATCH HILL $ 2,074.00 $ 7,300.00 $ $ 29,045.00 $ 272,493.00 $ 50,695.15 32,528.78 102,562.05 339.25 180,545.99 1,730.41 5,658.58 589.72 10,106.15 12,192.40 440,000.00 7,942.78 4,992.48 46,155.84 7,413.03 20,489.67 $ 62,442.34 $ 50,479.84 $ 149,307.61 $ 46,903.43 $ 925 ,721. 06 $ $ 48,706.65 $ 50,332.70 $ 139,069.41 $ 66,167.75 $ 469,880.42 $ 1,000.00 4,000.00 13,000.00 125,650.00 1,073.60 3,300.00 16,044.36 146,842.01 $ 50,780.25 $ 57,632.70 $ 139,069.41 $ 95,212.11 $ 742,372.43 $ $ 11,662.09 $ (7,152.86) $ 10,238.20 $(48,308.68) $ 183,348.63 $ 18,201. 86 3,781. 78 74,340.03 9,296.19 118,134.97 $ (6,539.77) $(10,934.64) $ (64,101. 83) $ (57 ,604.87) $ 65,213.66 $ 1,000.00' 4,000.00 13,000.00 125,650.00 318,838.74 (440,000.00) 589,890.73 67,881.22 1,786,743.86 132,202.98 622,688.51 $584,350.96 $ 60,946.58 $1,722,642.03 $ 87,598.11 $ 692,390.91 $ 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, 1983 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 WORlCING 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 !Sedore &; O'St,lIil'flll Certified Public Accountants TOTAL $ (73,967.45) 143,650.00 $ 69,682.55 223,754.83 $ 293,437.38 143,650.00 $ 149,787.38 $ 317,325.27 50,345.02 (182,921.01) (1,842.38) (29,594.64) (3,524.88) $ 149,787.38 SCHEDULE 8 FLEETWOOD ROCKINGHAM WILDWOOD , SEWER IMPROVEMENT AREA 111 WATCH HILL MID POINT PARK $ (6,539.77) $(10,934.64) $ (64,101.83) $ (57 ,604.87) $ 65,213.66 $ 1,000.00 4,000.00 13,000.00 125,650.00 $ (5,539.77) $ (6,934.64) $ (64,101.83) $(44,604.87) $ 190,863.66 $ 18,201. 86 3,781. 78 74,340.03 9,296.19 118,134.97 $ 12,662.09 $ (3,152.86) $ 10,238.20 $(35,308.68) $ 308,998.63 $ 1,000.00 4,000.00 13,000.00 125,650.00 $ 11,662.09 $ (7,152.86) $ 10,238.20 $(48,308.68) $ 183,348.63 $ $ 24,035.96 $ 12,845.37 $ 33.25 $ 77,086.84 $ 203,323.85 $ 2,088.70 1,513.07 32,220.61 (11,975.52) 26,498.16 (8,921. 01) (22,000.00) (20,000.00) (114,000.00) (18,000.00) 348.00 580.00 931. 00 (4,263.38) 562.00 (5,889.56) (91. 30) 578.22 4,843.38 (29,035.38) (3,524.88 $ 11,662.09 $ (7,152.86) $ 10,238.20 $(48,308.68) $ 183,348.63 $ The Audit Comments are an integral part of this report TOWN OF WAPPINGER BALANCE SHEET CAPITAL PROJECTS FUND DECEMBER 31, 1983 IStdore & (J'St,lIil1flll Cerl1f1ed Public Accountants '" " I :1 " " "''' '" '" ... "'<<: ..: .-< .-< ...z <<:H rj;;1 "'''' <J>- <J>- '" '" ...'" .-< .-< .-< .-< "''' N N N N ~j '" '" '" '" ,",0"':> '" '" '" '" iii~~ ": ": ... '" ffio '" '" '" '" U,", <J>- <J>- <J>- <<: ...:> "-< '" '" '" 0 0 0 0 ...:> 00 ": 00 ": u '" ....: ....: ... 0 " ..... ffi H N N N N > ~ ": ": '" ": '" '" '" '" '"' <J>- <J>- <J>- '" '" '" '" '" '" ": '" '" 00 00 " 00 00 '" <<: '" '" '" '" "'..Z ";. ";. ";. '" ,","'H !3;;J;;1 '" '" '" ... .-< .-< .-< .-< :>:uo <J>- <J>- <J>- <J>- -' ... '" '" '" '" 0 '"' 00 00 00 00 '" z '" 0 " H " 0 0 0 ... o~<<: '" '" '" '" III "-< Z c:; 0 c:; 0 H .; oM (3"-<;;1 '" '" '" .<: '" '" '" '" -' :>: '" <J>- <J>- <J>- ..... 0 -' ... ., ",8 ::; i ::; '" '"' .-< ZN "'0 '" '" "''''' ., r:l&i~ .-<0 00 00 ... 000 .-< .-< bIl 1ijg "'''' ex;. 00 " -' "'''' .-<'" N N " "-< .-<~ 8- 8- oM :>: " H <J>- <J>- <J>- ., " ... ., .-< .-< .-< .-< III '" '" '" '" ...:> '" '" '" '" -' ~ " '" '" '" '" " '" '" '" ~ ~ ~ 00 ro 00 00 0 .-< .-< .-< .-< u '" '" '" ... -' '"' <J>- <J>- <J>- <J>- ..... -g <<: <lJ .<: z '"' 0 N N N N "'H ..... ..... ..... ..... "'"' ..: ..: ..: ...; <<:u ;:::; ;;1~ oz 0 U <J>- <J>- TOWN OF WAPPINGER STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND FOR THE YEAR ENDED DECEMBER 31, 1983 TOTAL REVENUE TOTAL STORM SEWER $ 47,792.89 $ 493.44 234,950.00 3,667.50 (143,618.40) (17,887.52) $ 142,791.99 $(17,394.08) $ 4,090.83 $ 250,097.44 REVENUE Use of Money and Property Obligations Issued State Aid Transfer from (to) other Funds EXPENDITURES General Government Support Transportation Debt Service Interest Public Safety TOTAL EXPENDITURES $ 254,188.27 $ EXCESS (Deficiency) OF REVENUES OVER EXPENDITURES $(111,396.28) $(17,394.08) FUND BALANCE - January 1, 1983 616,597.22 17,394.87 FUND BALANCE - DECEMBER 31, 1983 $ 505,20~ J .79 isedore ~Q'.S!!EfX!P '" 8 :; ~ "" 0 '" ~ 0 a- ~ ~ a- r.J ...; .; .,; " ..... "" <"l 1:1,.;2 "" co <"l <"l ..... <"l ": ..... ~ ~ ~ '" Hr.JH .; s;;a;2 H :j '" H H :DUCl <J)- <J)- <J)- ~ ~ .., ~ ... "" 0 '" '" N '" 0 '" 0 <"l <"l N ~ ~ H ....; -i, ...; ...; ....; Z r.J 0 ... H " ..... 0 <"l <"l N a- o~< "" '" ~ 0 H. 0 III 0.. Z .;, <:5 .... H "" "" <"l a- -'" ;30..;2 ~ :j :j co '" .., :0: Cl <J)- <J)- <J)- <J)- .... 0 .., ... III ~ ~ ~ ~ P- H ..... ..... ..... H "" H ZN H H .-: ..... U; III r.J"" .,; .,; -i, ... gjffi< CO CO "" H H H <"l H ClI ~~~ <"l <;. <"l .-: ~ .., ....; ....; e: "'~ <"l '" N .... ~ H :j H ~ :j ~ 1a H <J)- <J)- <J)- <J)- <J)- <J)- ClI ... III a- a- 0 0 a- N H III a- a- 0 0 a- ~ a- .., ,.., -i, -i, .,.; .,.; .... d- e: ~ ..... ClI '" '" ..... ..... CO H a- ~ ~ 0 ..... ": ": "";. ~ ~ "" "" 00 CO '" <"l CO U <"l <"l N a- H 0 <"l "" .., H <J)- <J)- <J)- <J)- .... ." ::l < ClI -'" Z ~ H 0 <"l ;::: :; "" '" J r.JH '" ~ H .-: CO ~b .; "" d- a- .,; ~~ CO N <"l <"l "" ..... N "";. "";. "";. ;2~ ...< .;. ..... ..... ..... ClZ <"l ~ <"l <"l 8 ~ ~ <J)- <J)- <J)- <J)- <J)-