2010
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Hackensack Fire District
New Town of Wappinger
County of Dutchess
Audit Report
December 31, 2010
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NOV 03 2011
TOWN OF WAPPINGER
TOWN CLERK
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ROBERT G. SHEPHEARD JR., CPA P.C.
Certified putlic Accountant
488 FREEDOM PLAINS ROAD, SUITE 139
POUGHKEEPSIE, N.Y. 12603
ROBERT G. SHEPHEARD JR., CPA
DWIGHT TOWNSEND, ENROLLED AGENT
PHONE: (845) 485-3000
FAX: (845) 485-3257
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Board of Fire Commissioners
New Hackensack Fire District.
217 Myers Corners Road
Wappingers Falls, NY 12590
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We have audited the accompanying balance sheet of the New Hackensack Fire District
as of December 31,2010 and the related statements of revenues and expenditures and
cash flows for the year then ended. These financial statements are the responsibility of
the organization's management. Our responsibility is to express an opinion on the
financial statements based on our audit.
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We conducted our audit in accordance with auditing standards generally accepted in the
United States of America. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free from
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall presentation of the financial statements.
We believe that our audit provides a reasonable basis for our opinion.
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In our opinion, the financial statements referred to above present fairly, in all material
respects, the financial position of the New Hackensack Fire District as of December 31,
2010, and the results of its operations and its cash flows for the year then ended in
conformity with accounting principles generally accepted in the United States of
America.
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Robert G. Shepheard Jr. CPA P.C.
October 16, 2011
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Assets
Cash - Checking
Cash - Money Market Funds
Cash - Certificates of Deposit
Total Assets
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Liabilities
Accounts Payable
Fund Balance
Unrestricted
Restricted
Total Fund Balance
Total Liabilities and Fund Balance
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New Hackensack Fire District
Balance Sheet
December 31,2010
Exhibit A
Reserve Funds
General Land and
Fund Aooaratus Buildina Reoairs Total
$ 10,251 $ - $ - $ - $ 10,251
131,660 1,375,081 1,091,188 21,234 2,619,163
$ 141,911 $1,375,081 $1,091,188 $ 21 ,234 $2,629,414
$ 3,025 $ - $ - $ - $ 3,025
$ 138,886 $ - $ - $ - $ 138,886
1,375,081 1,091,188 21,234 2,487,503
$ 138,886 $1,375,081 $1,091,188 $ 21,234 $2,626,389
$ 141,911 $1,375,081 $1,091,188 $ 21,234 $2,629,414
See Accountant's Letter
Robert G. Shepheard Jr. CPA P.C.
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Revenues
Real Property Taxes
Interest Income
Transfers From Other Funds
Other Revenues
Total Revenues
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Excenditures
Personal Services
Fire Equipment
Fire - Contractual Expenditures
Employee Benefits
Transfers To Other Funds
Total Expenditures
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Excess Revenues over Expenditures
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Fund Balance, January 1, 2010
Fund Balance, December 31,2010
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New Hackensack Fire District
Statement of Revenues and Expenditures
For the Year Ended December 31,2010
Exhibit B
Reserve Funds
General Buildings
Fund Accaratus & Grounds Recairs Total
$ 969,104 $ - $ - $ - $ 969,104
2,211 5,174 5,156 80 12,621
541,848 541,848
25,725 25,725
$ 997,040 $ 547,022 $ 5,156 $ 80 $ 1,549,298
$ 109,009 $ - $ - $ - $ 109,009
331,596 331,596
272,745 272,745
111,754 111,754
541,848 541,848
$1,366,952 $ - $ - $ - $ 1,366,952
$ (369,912) $ 547,022 $ 5,156 $ 80 $ 182,346
511,823 828,059 1,086,032 21,154 2,447,068
$ 141,911 $1,375,081 $1,091,188 $ 21,234 $2,629,414
See Accountant's Letter
Robert G. Shepheard Jr. CPA P.C.
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Cash Flows from Operatina Activities
Excess Revenue over Expenditures
Increase ( Decrease) in:
Accounts Payable
Net Cash Provided By Operating Activities
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Net Increase ( decrease) in Cash
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Cash, January 1, 2010
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Cash, December 31,2010
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New Hackensack Fire District
Statement of Cash Flows
For the Year Ended
December 31, 2010
Exhibit C
Reserve Funds
General Buildings
Fund Apparatus & Grounds Repairs Total
$ (369,912) $ 547,022 $ 5,156 $ 80 $ 182,346
$ (369,912) $ 547,022 $ 5,156 $ 80 $ 182,346
$ (369,912) $ 547,022 $ 5,156 $ 80 $ 182,346
511,823 828,059 1,086,032 21,154 2,447,068
$ 141,911 $1,375,081 $1,091,188 $ 21,234 $2,629,414
See Accountant's Letter
Robert G. Shepheard Jr. CPA P.C.
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Exhibit D
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New Hackensack Fire District
Notes to Financial Statements
For The Year Ended December 31, 2010
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Note 1
Basis Presentation
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Prior to 2006, the Fire District maintained its records on a single-entry cash basis of accounting, as prescribed
by the State Comptroller in the Uniform System of Accounts for Fire Districts. Due to recent legislation as
enacted by the Office of the State Controller, the Fire District is required to maintain its financial records and
report its financial activity using a modified accrual basis of accounting, with one exception, as stated below:
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1. A general fixed assets group of accounts, used to record the fixed assets of the
district, is not maintained.
Fund Accountina
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The district's accounting system is organized on a fund basis. Each fund is an independent fiscal
entity designed to provide for an accounting of resources available to the district, the purpose of
which is to provide services to the general public in accordance with specific regulations,
restrictions and limitations. A description of the types of funds used herein follows:
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1. General Fund - is used to account for all transactions of the district
except those required to be segregated or otherwise restricted by law.
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2. Reserve Fund - are used for specific purposes as establised by the
Board of Commissioners, Le., Fire Apparatus Additions and Building and
Ground Improvements.
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Service Award Proqram
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The fire district retains a program administrator for its service award program. As of December 31, 2010,
the service award program had assets and liabilities of $ 662549.89.
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See Accountant's Letter
Robert G. Shepheard Jr. CPA P.C.
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