HomeMy WebLinkAbout01-10-1984 Oath of Office1
539
OATH OF OFFICE
III, Barney L. Shull
, solemnly swear that I will
support the Constitution of the United States and the
Constitution of the State of Alabama so long as I continue
a citizen thereof; and that I will faithfully and honestly
discharge the duties of the office upon which I am about
to enter, to the best of my ability, so help me, God."
fx
Sworn to and subscribed before me this /0 day of (,voex ,1984.
Notary Public
to of Alabama
0
CITY OF FAIRHOPE, ALABAMA
FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC
CITY OF FAIRHOPE, ALABAMA
SEPTEMBER 30, 1983
TABLE OF CONTENTS
Page
Accountants' opinion
1
General Purpose Financial
Statements
- combined
statements overview:
Combined balance sheet
- all
fund types and
account groups
2 - 3
Combined statement
of revenues,
expenditures and
changes in fund
balances -
All governmental fund
types
4
Combined statement
of revenues,
expenditures and
changes in fund
balances -
budget and actual
All governmental
fund types
5
Combining balance
sheet - All
Proprietary Fund types
6 - 7
Combined statement
of income
and retained earnings -
all Proprietary
Fund types
8 - 9
Combined statement of changes in financial position all Proprietary Fund types 10 - 11
Account Groups
General Fixed Assets
Statement of general fixed assets
Statement of changes in general fixed assets
General Long Term Debt
Statement of general long term debt
Notes to the financial statements
(continued)
12
13
14
15 - 29
PARKER. FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC
CITY OF FAIRHOPE, ALABAMA
SEPTEMBER 30, 1983
TABLE OF CONTENTS (continued)
Page
Supporting Schedules:
Additional financial information
Individual Fund Financial Statements
General Fund:
Balance sheet 30
Statement of changes in fund balance 31
Statement of revenues - actual and budget 32 - 33
Statement of expenditures - actual and budget 34 - 37
Special Revenue Funds:
Combining Balance Sheet 38
Combining statement of revenues, expenditures
and changes in fund balances 39
Federal Revenue Sharing Fund:
Balance sheet 40
Statement of revenues, expenditures and
changes in fund balance - actual and budget 41
State of Alabama Gasoline Excise Tax Funds:
Balance sheet 42
Statement of revenues, expenditures and changes in
fund balance - actual and budget 43
Recreation Operating Fund:
Balance sheet 44
Statement of revenue, expenditures and changes in
fund balance - actual and budget 45 - 46
Recreation Capital Improvement Fund:
Balance sheet 47
Statement of revenue, expenditures and changes in
fund balance - actual and budget 48
Public Library Board:
Balance sheet 49
Statement of revenues, expenditures and
changes in fund balance - actual and budget 50
(continued)
PARKER, FICKLING, HARTMANN i NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
SEPTEMBER 30, 1983
TABLE OF CONTENTS (continued)
Special Assessment Funds:
Page
Combining balance sheet 51
Combining statement of revenues, expenditures
and changes in fund balances - actual and
budget 52
Debt Service Funds:
Combining balance sheet 53
Combining statement of revenues, expenditures
and changes in fund balances - actual and
budget 54
Capital Project Funds:
Civic Center:
Balance sheet 55
Statement of revenue, expenditures and
changes in fund balances - actual and
budget 56
Street Drainage - Community Development Block Grant
Balance sheet 57
Statement of revenue, expenditures and changes
in fund balances - actual and budget 58
Proprietary Funds:
Enterprise Funds:
Electric Fund:
Balance sheet
Statement of income and retained earnings -
actual and budget
Natural Gas Fund:
Balance sheet
Statement of income and retained earnings -
actual and budget
I Water and Wastewater Fund:
Balance sheet
Statement of income and retained earnings -
actual and budget
PARKER, FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC
59
60
61
62
63
64
SAMUEL F. PARKER
LESLIE T. FICKLING
XAVIER A. HARTMANN, III
J.KENNETH HANAK
WAYNE A. GRUENLOH
RUCKER T. TAYLOR, III
I
PARKER, FICKLING, HARTMANN & HANAK, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
FOLEY,ALABAMA
ACCOUNTANTS' OPINION
December 9, 1983
MEMBER, AMERICAN INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS
Honorable James P. Nix, Mayor and
Members of the City Council
City of Fairhope, Alabama
We have examined the combined financial statements of the City of
Fairhope, Alabama and the combining, individual fund, and account group financial
statements of the City of Fairhope, Alabama as of and for the year ended September
30, 1983, as listed in the table of contents. 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 combined financial statements referred to above
present fairly the financial position of the City of Fairhope, Alabama at
September 30, 1983, and the results of its operations and changes in financial
position of its proprietary fund types for the year then ended, in conformity with
generally accepted accounting principles applied on a basis consistent with that
of the preceding year. Also, in our opinion, the combining, individual fund, and
account group financial statements referred to above present fairly the financial
position of the individual fund and account groups of the City of Fairhope,
Alabama at September 30, 1983, and the results of operations of such funds and
changes in financial position of individual proprietary funds for the year then
ended, in conformity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year.
Our examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole and on the combining, individual
fund, and account group financial statements. The accompanying financial infor-
mation listed as supporting schedules on the table of contents is presented for
purposes of additional analysis and is not a required part of the combined
financial statements of the City of Fairhope, Alabama. The information has been
subjected to the auditing procedures applied in the examination of the combined,
combining, individual fund, and account group financial statements and, in our
opinion, is fairly stated in all material respects in relation to the combined
financial statements taken as a whole.
Certified Public Accountants
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
SEPTEMBER 30, 1983
_ - Governmental Fund Types
Special Special Debt
ASSETS General Revenue Assessment Service
CASH $ 254,963 $ 119,679 $ 379,056 $1,179,023
RECEIVABLES (net of allowance for
uncollectible)
Utility customers
Miscellaneous
Public improvement assessments
Notes receivable
MATERIALS INVENTORIES
PREPAID OPERATING EXPENSES
DUE FROM THE OTHER FUNDS OF THE CITY
OF FAIRHOPE
SINKING FUNDS - Restricted cash and invest -
investments
PROPERTY, PLANT AND EQUIPMENT:
Land, buildings and other improvements
Vehicles and equipment
Plant and distribution system
Construction in progress
Accumulated depreciation
UNAMORTIZED DEBT COST
UNAMORTIZED DEFERRED PLANT MAINTENANCE
AMOUNT AVAILABLE IN DEBT SERVICE FUNDS
AMOUNT TO BE PROVIDED FOR RETIREMENT
OF GENERAL LONG TERM DEBT _
2,253
11,360
116,796
TOTAL ASSETS $; 385,372
i
i
(continued)
926 10,136
229,154
134,361
68,240 6,71
465,046
$ 18�8,845 $1,0� 73 $1,330,239
PARKER, FICKUNG, HARTMANN i HANAK, P.C. CERTIFIED PUSUC ACCOUNTANTS
2
Proprietary
Account
Groups
Totals
Fund Types
General
General
(Memorandum
Only)
Capital
Fixed
Long Term
September
30,
Projects Enterprise
Assets
Debt
1983
1982
$ 390 $ 1,236,796
$
$
$ 3,169,907 $
1,580,958
420,981
420,981
364,394
13,241
26,556
44,621
240,514
307,084
134,361
151,156
194,657
194,657
174,638
15,034
15,034
20,038
284,184
475,939
423,794
279,309
279,309
263,995
5-9802,541
5,802,541
5,817,119
606,886
693,276
1,300,162
1,149,671
12,119,258
12,119,258
11,507,064
29,885
494,931
10,124
(3,688,430)
(3,688,430)
(3,317,590)
33,461
33,461
35,296
5,980
5,980
12,471
1,322,982 1,322,982
294,920
1,535,499 1,535,499
1,660,212
$ 390 $11,521,357
$ 6,525,702
$ 2,858,481 $23,883,642
$20,499,965
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER. PICKLING, HARTMANN 8 NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
SEPTEMBER 30, 1.983
Governmental Fund
Types
Special
Special
Debt
LIABILITIES AND FUND EQUITY
General
Revenue
Assessment
Service
LIABILITIES
Accounts payable
$ 47,150
$ 1,803
$
$
Contracts payable
40,372
Advance collection on assessments
50,000
Accrued expenses and taxes:
Payroll taxes
14,862
1,424
Employees' retirement
11,420
Interest
538
Utility taxes
Town of Daphne
All other
644
CUSTOMER DEPOSITS
DUE TO THE FUNDS OF THE CITY OF FAIRHOPE
133,901
10,578
110,368
6,71'
GENERAL OBLIGATION BONDS, WARRANTS,
NOTES AND MORTGAGE PAYABLE
771,262
REVENUE BONDS, NOTE AND GENERAL
OBLIGATION WARRANTS PAYABLE
TOTAL LIABILITIES
207,977
13,805
972,002
7,257
FUND EQUITY
Contributed capital:
From other funds of the City
United States Government
Customers and developers, etc.
Investment in general fixed assets
Retained earnings
Fund balance - unreserved
177,395
175,040
Fund balance - reserved for debt
service
101,254
1,322,982
TOTAL FUND EQUITY
177,395
175,040
101,254
1,322,982
TOTAL LIABILITIES AND FUND EQUITY
$ 385,372
$ 188,845
$1,073,256
$1,330,239
►ARKER, FICKUNG, HARTMANN t HANAK, P.C. CERTIFIED PUUIC ACCOUNTANTS
3
Capital
Projects
$
652
652
(262)
(262)
$ 390
Proprietary
Fund Types
Enterprise
$ 403,549
10,805
8,475
116,946
21,363
8,004
4,638
293,069
213,721
27,653
4,256,000
5,364,223
38,147
1,097,396
1,067,593
3,953,998
6,157,134
$111521,357
Account Groups Totals
General General (Memorandum Only)
Fixed Long Term September 30,
Assets Debt 1983 1982
$ $ $ 452,502 $ 522,222
40,372
50,000
27,091 16,357
19,895 13,039
117,484 81,848
21,363 21,484
8,004 8,197
5,282 1,475
293,069 267,905
475,939 423,794
6,525,702
6,525,702
$ 6,525,702
2,858,481 3,657,396 2,452,345
4,256,000 4,068,000
2,858,481 9,424,397 7,876,666
$2,858,481
38,147
1,097,396
1,067,593
6,525,702
3,953,998
352,173
1.424.236
14,459,245
$23,883,642
38,147
1,097,396
980,987
6,422,469
3,474,097
240,321
369.882
12,623,299
$20,499,965
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
GOVERNMENTAL FUNDS
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1983
REVENUES
Taxes
Licenses and permits
Fines and forfeitures
State of Alabama
United States Government
Interest and rents
Charges for services
Other revenues
Loan proceeds
Transfer from other funds
Total revenues
EXPENDITURES
General government
Beach department
Sanitation department
Police department
Fire department
Street department
Staff agencies and other
Debt service payments
Principal
Interest
Other expenditures
Transfers to other funds
Public Library Board
Recreation department
Total expenditures
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
FUND BALANCE AT BEGINNING OF
YEAR
As previously stated
See Note 22 for details of
adjustments
As restated
WARRANT PROCEEDS FOR DEBT RETIREMENT
(Note 12)
FUND BALANCE (DEFICIT) AT END
OF YEAR
Governmental Fund TVoes
Special
Special
General
Revenue
Assessment
$ 428,053
$ 108,812
$
218,195
102,802
33,840
49,530
40,445
49,281
68,404
4,483
53,041
118,244
147,982
19,131
-792,362
75,000
1,950,327
306,237
53,041
371,652
10,612
202,950
417,480
152,225
393,306 13,164
31,751
25,812
2,325 937
272,815 144,443
109,890
70,961
1,855,116 338,458 26,749
95,211 (32,221) 26,292
364,060 171,181 74,962
(281,876) 36,080
82,184 207,261 74,962
$ 177,395 $ 175,040 $ 101,254
PARKER, FICKLI NG, HARTMANN A NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
4
Totals
(Memorandum Only)
Debt
Capital
Year ended September
30,
Service
Project
1983
1982
$
536,865 $
383,677
218,195
185,503
102,802
110,995
83,370
164,506
29,623
119,349
103,759
25,850
151,778
150,457
118,244
113,791
10,645
177,758
66,650
40,438
40,438
676,722
302,977
1,170,339
1,063,222
369,265
40,268
2,719,138
3,019,282
371,652
244,349
10,612
6,938
202,950
201,069
417,480
396,656
152,225
95,197
406,470
414,831
31,751
77,620
157,089
157,089
112,890
166,428
192,240
134,619
37,686
29,885
70,833
963,084
10,645
427,903
364,209
109,890
70,961
85,787
361,203
40,530
2,622,056
3,097,249
8,062
(262)
97,082
(77,967)
-
-
610,203
688,170
294,920
49,124
-
294,920
659,327
688,170
1,020,000
1,020,000
$1,322,982
$ (262)
$1,776,409
$
610,203
The notes
to the financial
statements are
an integral part
of this statement.
PARKER, FICKLING, HARTMANN A NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
GENERAL, SPECIAL
REVENUE, SPECIAL ASSESSMENT,
DEBT SERVICE
AND CAPITAL PROJECT
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES
IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER
30, 1983
General
Special
Revenue
Over
(Under)
Over
(Under)
Actual
Budget
Budget
Actual
Budget
Budget
REVENUES
Taxes
$ 428,053
$ 318,700
$ 109,353
S 108,812
$ 87,000
$ 21,812
Licenses and permits
Fines and forfeitures
218,195
102,802
190,500
109,000
27,695
(6,198
State of Alabama
33,840
40,445
348,800
(3 4,960)
40,445
49.530
49,281
49,000
49,617
530
(336)
United States Government
Interest and rents
68,404
55,496
12,908
4.483
400
4,083
Charges for services
Other revenues
118,244
147,982
113,325
21,100
4,919
126,282
19,131
14,300
4,831
Loan proceeds
Transfers from other funds
792,362
684,000
108,362
75,000
75,000
Total revenues
1,950,327
1,841,521
108,806
306,237
275,317
30,920
EXPENDITURES
General government
371,652
267,169
104,483
Beach department
10,612
417,480
9,695
403,150
917
Policetdepartmentment
152,225
101,109
14,330
51,116
Fire department
Street department
393,306
388,000
5,306
13.164
16,800
(3,636)
Staff agencies and other
31,751
26,727
5,024
Debt service payments
Principal
Interest
Public Library Board
Other expenditures
2,325
300,000
(297,675)
109,890
85,900
23,990
Transfers to other funds
272,815
218,500
54,315
144,443
70,961
78,617
57,800
65,826
13,161
Recreation department
Total expenditures
1,855,116
1,915,850
(60,734)
338,458
239,117
99,341
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
95,211
(74,329)
169.540
(32,221)
36,200
(68,421)
FUND BALANCE AT BEGINNING OF YEAR
As previously stated
364,060
171,181
See Note for details of adjustments 281 876)
82,184
82,184
36080
207:261
207,261
As restated
WARRANT PROCEEDS FOR DEBT RETIREMENT
(Note 12)
FUND BALANCE (DEFICIT) AT END
$177,395
$ 7,855
$ 169,540
S 175,040
$ 243,461
$ (68,421)
OF YEAR
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
5
Totals
Special
Assessment
Debt Service
Capital Projects
(Memorandum
Only
Over
(Under)
Over
(Under)
Over
(Under)
ver
(Under)
Actual
Budget
Budget
Acutal
Budget
Budget
Actual Budget
Budget
Actual
Budget
Budget
$
$
$ $
$
$ $
$
$ $
536,865
$ 405,700
$ 131,165
218,195
190,500
27,695
102,802
109,000
16,198)
83,370
397,800
(314,430
29,623
29,623
119,349
49,617
69,732
53,041
50,000
3,041
25,850
25,000
850
151,778
130,896
20,882
118,244
113,325
4,919
10,645
10,645
177,758
36,000
141,758
40,438
40,438
40,438
40,438
302,977
247,500
55,477
1,170,339
1,006,500
163,839
53,041
50,000
3,041
369,265
272,500
96,765
40,268
40,268 2,719,138
2,439,338
279,800
371,652
267,169
104,483
10,612
9,695
917
202950
201,500
1,450
417:480
403,150
14,330
152225
101109
51,116
29,885
29,885
436:355
404:800
31,555
31,751
26,727.
5,024
157,089
84,000
73,089
157,089
84,000
73,089
25,812
27,000
(1,188)
166:428
163,500
2,928
192,240
190,500
1,740
109,890
85,900
23,990
937
900
37
37,686
37,686
00,900
(259297,117
10,645
10,645
440,948
,952)
786
70,961
57,800
13,161
26,749
27,900
(1,151
361,203
247,500
113,703
40,530
40,530 2,622,056
2,430,367
191,689
26,292
22,100
4,192
8,062
25,000
(16,938) 262)
262)
97,082
8,971
88,111
74,962 -
294,920
--74-.962 74,962 294,920 294,920
1,020,000 1,020,000
610,203
49,124
659,327 659,327
1,020,000 1,020,000
$ 10� S 97,062 S 4,192 $1,322,982 $ 319,920 $1,003,062 S 262)S $ 262)$1,776,409 S 668,298 $1 108,111
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALBAMA
ALL PROPRIETARY FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1983
•
Water and
Electric
Natural Gas
Wastewater
ASSETS
Fund
Fund
Fund
CURRENT ASSETS
Cash:
Operating accounts
$ 338,819
$ 157,188
$ 42,158
Interest bearing accounts
236,135
142,698
44,224
Construction accounts - restricted
38,440
Sinking fund accounts
15,053
45,093
176,988
590,007
344,979
301,810
Receivables:
Utility customers
362,846
82,297
Other receivables
3,302
5,217
7,658
Allowance for uncollectible accounts
(24,162)
(1,860)
(1,076)
341,986
85,654
6,582
Materials inventories
74,251
72,041
48,365
Prepaid operating expenses
79727
552
6,755
Total current assets
1,013,971
503,226
363,512
SINKING FUNDS - Restricted
Reserve and replacement funds
166,220
113,089
PROPERTY, PLANT AND EQUIPMENT (at cost)
Plant and distribution system
2,886,688
1,747,212
7,485,358
Vehicles and equipment
288,022
173,645
145,219
3,174,710
1,920,857
7,630,577
Accumulated depreciation
(1,079,554)
(990,529)
(1,618,347)
Property, plant and equipment - net
2,095,156
930,328
6,012,230
OTHER ASSETS
Unamortized debt cost
509
32,952
Unamortized deferred plant maintenance
5,980
Inter fund receivables
129,913
137,046
17,225
Total other assets
130,422
137,046
56,157
TOTAL ASSETS
$3,239,549
$1,736,820
$6,544,988
PARKER, FICKLINO, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
Totals
(Memo-randum Only)
September 30,
1983 1982
$ 538,165
423,057
38,440
237,134
1,236,796
445,143
16,177
(27,098)
434,222
194.657
15,034
1,880,709
279,309
12,119,258
606.886
12,726,144
(3,688,430)
9,037,714
$ 189,117
501,481
60,587
189,878
941,063
425,289
25,033
(63,831)
386.491
174,638
20,038 -
1,522,230
263,995
11,510,148
544,321
12,054,469
(3,317,590)
8,736,879
33,461 35,296
5,980 12,471
284,184 178,245
323,625 226,012
$11,521,357 $10,749,116
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUNDS
COMBINING BALANCE SHEET (CONTINUED)
SEPTEMBER 30, 1983
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES
Accounts payable:
Trade
Miscellaneous
Accrued expenses and taxes:
Insurance - casualty
Payroll taxes
Employees' retirement
Interest
Utility taxes
Employees withholdings
Town of Daphne
Customer deposits
Revenue bonds and general obligation
warrants payable
Notes payable, Central Bank of the South
Total current liabilities
NON CURRENT LIABILITIES
Revenue bonds and general obligation
warrants payable
Notes payable, Central Bank of the South
Interfund payables
Total non current liabilities
Total liabilities
CAPITALIZATION
Contributions in aid of construction:
United States Government
Customers and developers
Contributed capital from other
funds of the City of Fairhope
Retained earnings
Total capitalization
TOTAL LIABILITIES AND CAPITALIZATION
Electric
Fund
$ 315,640
315,640
4,099
3,029
2,860
21,363
200
31,551
283,707
39,000
7,578
677,476
181,000
20,075
104.435
305,510
982,986
93,581
2,162,982
2,256,563
$3,239,549
Natural Gas
$ 72,034
72,034
3,983
3,163
2,567
5,400
306
8.004
23,423
Water and
Wastewater
$ 12,097
3,778
15,875
3,543
2,879
108,686
149
115,257
9,362
45,000 71,000
140,457 211,494
360,000 3,560,000
63,189 46,097
423,189 3,606,097
563,646 3,817,591
1,097,396
149,062
824,950
38,147
1,024,112
766,904
1,173,174
2,727,397
$1,736,820
$6,544,988
PARKER, FICKLING, HARTMANN 6 HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
7
Totals
(Memorandum Only)
September 30,
1983 1982
$ 399,771
3,778
403,549
3,983
10,805
8,475
116,946
21,363
655
8,004
170.231
293,069
155,000
7,578
1,029,427
4,101,000
20,075
213.721
4,3342796
5,364,223
1,097,396
1,067,593
38,147
3,953,998
6,157,134
$11,521,357
6,585
5,589
81,848
21,484
777
8.197
124.480
267,905
149,000
6,860
959,479
3,919,000
27,653
252.357
4,199,010
5,158,489
1,097,396
980,987
38,147
3,474,097
5,590,627
$10,749,116
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUND TYPES
COMBINED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1983
Water and
Electric
Natural Gas
Wastewater
Fund
Fund
Fund
OPERATING REVENUES
Utility services
$3,874,996
$2,907,094
$ 809,251
Other charges, sales and receipts
41,722
3,029
114,043
Total operating revenues
3,916,718
2,910,123
923,294
OPERATING EXPENSES
Cost of utilities sold
2,706,874
2,001,576
127,048
Operating, maintenance and administrative
salaries
245,550
179,484
228,852
Operation and maintenance of plant
25,640
22,884
70,092
Gasoline and oil
4,974
7,457
7,980
Vehicle and equipment repairs
11,471
7,453
10,980
Audit fees
2,910
2,910
2,910
Bad debts
19,583
Christmas bonuses
600
550
750
Bond issue expense
185
1,511
Computer expenses
3,196
2,204
2,204
Dues and,memberships
26,957
3,237
225
Electric energy furnished City of Fairhope
66,392
Engineering services
9,267
10,725
8,883
Insurance, casualty
22,941
11,264
20,884
Insurance, employees group
17,182
17,124
20,330
Legal fees
9,870
164
Miscellaneous
869
324
243
Office supplies and postage
9,970
3,531
956
Payroll taxes
18,101
14,503
16,989
Professional services
2,478
Employees' retirement
19,874
17,008
19,877
Telephone
3,896
2,850
4,666
Rental
173
Travel, training and school
3,897
1,161
1,656
Uniforms
2,878
2,569
31058
Trustee fees
500
1,495
Distribution of joint revenue
8,004
Utilities
1,435
Total operating expenses
3,223,207
2,328,623
554,404
EARNINGS FROM OPERATIONS BEFORE DEPRECIATION
693,511
581,500
368,890
Depreciation
111,963
64,210
199,670
EARNINGS FROM OPERATIONS (carried forward)
$ 581,548
$ 517,290
$ 169,220
PARKER, FtCKLING, HARTMANN i NANAK, P.C. CERTIFIED PURUC ACCOUNTANTS
n
Totals
(Memorandum Only) it
Year ended September 30,
1983 1982
$7,591,341 $6,468,224
158,794 63,048
7,750,135 6,531,272
4,835,498 4,266,792
653,886
560,166
118,616
118,881
20,411
23,559
29,904
36,326
8,730
8,160
19,583
20,540
1,900
1,900
1,696
1,368
7,604
10,601
30,419
20,518
66,392
51,216
28,875
31,831
55,089
54,591
54,636
51,866
10,034
8,789
1,436
495
14,457
17,890
49,593
44,980
2,478
1,117
56,759
59,631
11,412
10,876
173
21
6,714
6,178
8,505
6,906
1,995
2,030
8,004
9,140
1,435
1,033
6.106.234
5.427.401
1,643,901 1,103,871
375,843 335,136
$1,268,058 $ 768,735
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN a HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUND TYPES
i
COMBINED STATEMENT OF INCOME AND RETAINED EARNINGS (CONTINUED)
FOR THE YEAR ENDED SEPTEMBER 30, 1983
Water and
Electric
Natural Gas
Wastewater
Fund
Fund
Fund
EARNINGS FROM OPERATIONS (brought forward)
$ 581,548
$ 517,290
$ 169,220
OTHER (DEDUCTIONS) INCOME
Interest expense
(15,987)
(16,500)
(185,080)
Interest earned
22,420
35,569
29,671
Earnings transferred to the General Fund
of the City of Fairhope
(354,000)
(342,717)
(20,000)
Purchased natural gas refunds for
prior years
9,635
Gain on sale of fixed assets
Reimbursement for damages - Layne Central
Alabama Power Company refund
48,832
Total other (deductions) income
(298,735)
(314,013)
(175,409)
NET EARNINGS (LOSS)
282,813
203,277
(6,189)
Retained earnings at beginning of year
1,880,169
820,835
773,093
RETAINED EARNINGS AT END OF YEAR
$2,162,982
$1,024,112
$ 766,904
PARKER, FK:KLING. HARTMANN L HANAK, P.C. CERTIFIED PUKK ACCOUNTANTS
0
Totals
(Memorandum Only)
Year ended September 30,
1983 1982
$1,268,056 $ 768,735
• (217,567)
87,660
(716,717)
9,635
48,832
(788,157)
479,901
3,474,097
$3,953,998
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUND TYPES
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED SEPTEMBER 30, 1983
SOURCES OF WORKING CAPITAL
From operations:
Net earnings (loss)
Add charges to earnings not
requiring current working capital,
depreciation and amortization
Less gain on sale of fixed assets
Working capital provided by
operations
Proceeds of water revenue bonds
Contributions and grants in aid
of construction
Proceeds from disposal of equipment
Decrease (increase) in interfund
receivables
Decrease (increase) in sinking funds
Total sources of working capital
USES OF WORKING CAPITAL
Acquisition of property, plant and
equipment
Reduction of long term debt
Decrease (increase) in interfund payable
Total uses of working capital
INCREASE (DECREASE) IN WORKING CAPITAL
Water and
Electric Natural Gas Wastewater
Fund Fund Fund
$ 282,813 $ 203,277 $ (6,189)
112,148 64,210 207,811
394,961 267,487 201,622
338,000
2,824 19,962 63,820
(99,363) 10,649 (17,225)
(3,995) (11,319)
298,422 294,103 574,898
115,839
83,134
477,704
46,579
45,000
71,000
(2,971)
13,816
27,791
159,447
141,950
576,495
$ 138,975
$ 152,153
$ (1,597)
0
PARKER, FICKUNG, HARTMANN t HANAK, P.C. CERTIFIED PUKIC ACCOUNTANTS
10
1
Totals
(Memorandum Only)
Year ended September 30,
1983 1982
$ 479,901 $ 35,961
384,169 342,995
- (729)
864,070 378,227
338,000
86,606 90,749
- 729
(105,939) (4,082)
(15,314) (38,089)
1,167,423 427,534
676,677
960,954
162,579
121,347
38,636
(17,963)
877,892
1,064,338
$ 289,531
$ (636,804)
(continued)
0
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN 6 HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUND TYPES
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION (CONTINUED)
FOR THE YEAR ENDED SEPTEMBER 30, 1983
Water and
Electric
Natural Gas
Wastewater
Fund
Fund
Fund
NET CHANGES IN ELEMENTS OF WORKING CAPITAL -
INCREASES (DECREASES)
CURRENT ASSETS:
Cash
$ 131,095
$ 121,013
$ 43,625
Receivables
26,447
28,021
(6,737)
Inventories
(3,942)
15,899
8,062
Prepaid expenses
(5,156)
152
Increase (decrease) in current
assets
153,600
159,777
45,102
CURRENT LIABILITIES
Accounts payable, trade
(16,485)
2,117
6,683
Contracts payable
Accrued expenses
2,228
5,507
38,016
Customer deposits
25,164
Revenue bonds, notes and general
obligation warrants payable
3,718
2,000
Increase (decrease) in current
liabilities
14,625
7,624
46,699
INCREASE (DECREASE) IN WORKING CAPITAL
$ 138,975
$ 152,153
$ (1,597)
PARKER, FICKLING, HARTMANN B HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
Totals
(Memorandum Only)
Year ended September 30,
1983 1982
$ 295,733
47,731
20,019
(5,004)
358,479
(7,685)
45,751
25,164
5,718
68,948
$ 289,531
$ (730,041)
84,438
(27,796)
(3,364)
$ (636,804)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING. HARTMANN & HANAK. P.C. CERTIFIED PUBLIC ACCOUNTANTS
PV
12
CITY OF FAIRHOPE, ALABAMA
STATEMENT OF GENERAL FIXED ASSETS
SEPTEMBER 30, 1983 AND 1982
Land and buildings
Municipal beach and pier
Municipal airport
Street paving and improvements
Municipal fishing dock
Equipment
Recreational facilities
Construction work in progress
TOTAL GENERAL FIXED ASSETS
ASSETS
INVESTMENT
INVESTMENT IN GENERAL FIXED ASSETS
AT BEGINNING OF YEAR
Add: Acquisitions during the current year
Less: Retirement during the current year
INVESTMENT IN GENERAL FIXED ASSETS
AT END OF YEAR
1983
1982
$1,486,960
$1,505,634
644,719
644,719
1,141,292
1,139,055
1,714,860
1,714,860
29,572
29,572
693,276
605,350
785,138
783,279
29,885
-
$6,525,702
$6,422,469
$6,422,469 $5,431,835
200,647 1,007,101
6,623,116 6,438,936
97,414 16,467
$61525,702 $6,422,469
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
13
CITY OF FAIRHOPE, ALABAMA
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
FOR THE YEAR ENDED SEPTEMBER 30, 1983
General
General
Fixed Assets
Fixed Assets
Oct.1,1982
Additions
Retirements Sept.30,1983
LAND AND BUILDINGS
Park property
$ 1,000
$
$ $ 1,000
City garage property
29,090
29,090
Sundry property
10,106
10,106
City administration
building
85,153
85,153 -
Police and fire station
67,239
67,239
City garage and warehouse
56,684
56,684
Civic Center building - old
17,198
17,198
Civic Center building
1,239,164
66,479
1,305,643
1,505,634
66,479
85,153 1,486,960
MUNICIPAL BEACH AND PIER
644,719
644,719
MUNICIPAL AIRPORT
1,139,055
2,237
1,141,292
MUNICIPAL FISHING DOCK
29,572
29,572
STREET PAVING AND
IMPROVEMENTS
1,714,860
1,714,860
EQUIPMENT
Civic Center
26,250
10,571
36,821
Police Department
101,016
22,081
12,261 110,836
Fire Department
98,306
33,951
132,257
Street Department
298,748
25,598
324,346
General Government
37,963
7,986
45,949
Sanitation Department
43,067
43,067
605,350
100,187
12,261 693,276
RECREATIONAL FACILITIES
Land
64,000
64,000
Stimpson Field and
Volanta Field
202,603
202,603
Tennis courts
25,033
25,033
Swimming pools
103,186
103,186
Bath houses and restrooms
31,597
31,597
Equipment
18,515
1,859
20,374
Fencing
18,048
18,048
Playground equipment
8,337
8,337
Young Street building
3,667
3,667
Football stadium and
buildings
308,293
308,293
783,279
1,859
785,138
CONSTRUCTION WORK IN PROGRESS
-
29,885
29,885
TOTALS $6,422,469 $ 200,647 $ 97,414 $6,525,702
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
14
CITY OF FAIRHOPE, ALABAMA
STATEMENT OF GENERAL LONG TERM DEBT
SEPTEMBER 30, 1983 AND 1982
AMOUNT AVAILABLE AND TO BE PROVIDED
FOR THE PAYMENT OF GENERAL LONG TERM DEBT
1983 1982
Amount available in debt service funds $1,322,982 $ 294,920
Amount to be provided 1,535,499 1,660,212
TOTAL AVAILABLE AND TO BE PROVIDED $2,858,481 $1,955,132
GENERAL LONG TERM DEBT OUTSTANDING
General obligation warrants, Series 1982
(dated June 1, 1982) $1,000,000 $1,000,000
General obligation refunding warrants
(dated April 1, 1982) 330,000 370,000
General obligation recreational warrants
(dated July 1, 1976) 195,000 215,000
General obligation various purpose warrants
(dated December 1, 1978) 385,000 435,000
General obligation public improvements bonds
(dated December 1, 1978) 240,000 280,000
Mortgage payable, Central Bank of the South
(dated August 27, 1983) 16,806 55,000
Note payable, Central Bank of the South
(dated February 24, 1982) 32,937 62,832
General obligation warrants
(dated June 1, 1983) 1,430,000 -
Total general obligation warrants, bonds and notes 3,629,743 2,417,832
Less bonds and warrants payable by
Special Assessment Funds:
Portion of general obligation various
purpose warrants (dated December 1, 1978) 1619700 182,700
General obligation public improvement
bonds (dated December 1, 1978) 240,000 280,000
General obligation warrants
(dated June 1, 1983) 369,562 -
Total 771,262 462,700
TOTAL GENERAL LONG TERM DEBT OUTSTANDING $2,858,481 $1,9559132
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN A NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
15
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Purposes of Funds and Account Groups - The City utilizes the following
funds and account groups:
1. The General Fund is used to account for all revenues and ex-
penditures applicable to the general operations of city
government which are not properly accounted for in another
fund. All general operating revenues which are not restricted
or designated as to use by outside sources are recorded in the
General Fund.
2. Special Revenue Funds are operating funds for which the use of
revenues is restricted or designated by outside sources, and
to account for revenue derived from specific taxes or other
specific resource to finance particular functions or activi-
ties of government.
3. Special Assessment Funds are used to account for special assess-
ments levied to finance public improvements.
4. Debt Service Funds are used to account for the accumulation of
resources for, and the payment of, general long-term debt prin-
cipal, interest and related costs not paid by the Special
Assessment Funds and Enterprise Funds.
5. The Electric Fund, Natural Gas Fund and Water and Wastewater
Fund, which are Enterprise Funds, are used to account for the
operations of the utilities, related debt, property, plant and
equipment.
6. Capital Project Fund is used to account for financial resources
to be used for the acquisition or construction of major facili-
ties other than those financed by proprietary funds and Special
Assessment Funds.
7. The General Fixed Assets Account Group is used to account for
fixed assets required for general city purposes.
B. The General Long Term Debt Account Group is used to account for
the outstanding principal balances of General Long Term Debt,
not accounted for in the Enterprise Funds and Special Assess-
ments Fund.
Basis of Accounting:
1. All governmental type funds -
The accounts of the governmental funds are maintained on the
modified accrual basis. Under the modified accrual basis,
expenditures, other than accrued interest on general long term
debt are recorded at the time liabilities are incurred and
revenues are generally recorded when received in cash, except
for certain revenues which are accrued when they are both
measurable and available or have not been received at the
normal time of receipt.
PARKER, FICKLINO, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
16
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
2. Enterprise Funds - The accounts of the Utility Funds are main-
tained on the accrual basis, revenues are recorded when earned
and liabilities when they are incurred.
Property, plant and equipment - Additions, improvements and
renewals are capitalized at cost. Maintenance and repairs are
charged to expense as incurred. Depreciation is provided us-
ing the straight line method over the estimated useful lives of
the assets. Retired plant and equipment are removed from the
accounts at their respective costs.
Receivables from utility customers - The Electric Fund pur-
chases at face value, the utility receivables of the Natural
Gas Fund and Water and Wastewater Fund. Purchase is made at
the time customers are billed.
Inventories - Materials and supplies inventories are valued at
cost and consist largely of items to be used to construct and
maintain utility plant.
Debt issue cost and discount - Issuance expenses on long term
debt are deferred and amortized, on the bonds outstanding
method, over the terms of the related issues.
Deferred charges - Expenditures for operation and maintenance
which will benefit future periods are amortized over the
periods benefited.
Contributions in aid of construction - Non refundable payments
from customers and governmental agencies for the purpose of
construction of utility plant, to which the City retains title,
are capitalized, with no effect on revenues.
3. General Fixed Assets Account Group - Fixed assets acquired or
constructed for general governmental services are recorded as
expenditures in the funds making the expenditure and capita-
lized at cost in the General Fixed Assets Account Group. No
provision is being made for depreciation. Retired assets are
removed at their respective cost.
4. Comparative data - Comparative total data for the prior year
have been presented in the accompanying financial statements in
order to provide an understanding of changes in the City's
financial position and operations.
PARKER, FICKLING, HARTMANN A NANAK, P.C. CERTIFIED
17
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 2 RETIREMENT PLAN
The City has a funded contributory retirement plan, which went into
effect January 1, 1980, with the Employees' Retirement System of
Alabama. All new employees (if they meet age requirements) of the
City must become members of the retirement plan. Monthly cohtri-
butions to the plan for current and past service costs are based on
actuarial estimates prepared by the Employees' Retirement System of
Alabama. Employees contribute 5% of their regular salary and the
City's contribution rate for the year ended September 30, 1983 was
8.08A, decreasing to 6.09% effective October 1, 1983.
NOTE 3 TOTAL COLUMNS ON COMBINED STATEMENTS - INTERPRETATION OF "TOTAL
MEMORANDUM ONLY" COLUMN
Amounts in the "Total Memorandum Only" column represent the mathe-
matical summing of the combined statement line items of the fund
types and account groups included therein. The total columns on the
Combined Statements - Overview are captioned Memorandum Only to
indicate that they are presented only to facilitate financial
analysis. Data in these columns do not present financial position,
results of operations, or changes in financial position in conform-
ity with generally accepted accounting principles. Neither is such
data comparable to a consolidation. Interfund eliminations have not
been made in the aggregation of this data. Because these fund types
and account groups utilize a differenct basis of accounting, amounts
in the "Total" column do not necessarily represent comparable total
resources available for spending or appropriation. The "Total"
column usually includes an amount which, while classified as an
asset, is not an asset in the usual sense. The caption "Amounts to
be provided" represents only the amount of future revenues required
to liquidate existing debt recorded in the long-term debt account
group.
NOTE 4 STREET IMPROVEMENT ASSESSMENTS RECEIVABLE
Street improvement assessment receivables as of September 30, con-
sisted of unpaid assessment from the following years:
Year
1962
1963
1966
1970
1974
1977 - 1978
TOTAL
September 30,
1983 1982
$ 151
1,449
868
1,460
7,432
229,154
$240,514
$ 151
1,449
868
2,089
11,360
291,167
$307,084
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
18
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 5 GENERAL FUND - CASH
The General Fund's cash in the bank at September 30, consisted of
the following balances:
General operating
Payroll
Airport - checking
Pooled funds - certificate of deposit
Beach revenue - checking
Beach revenue - savings
Flood disaster
Parking authority - checking & savings
Municipal fountain - savings
Industrial park - savings
New City Hall - money market
TOTAL
NOTE 6 FEDERAL REVENUE SHARING FUNDS
September 30,
1983
1982
$ 43,939
$ 28,091
400
400
1,073
2,511
83,438
25,549
8,513
8,548
2,122
2,016
7
7
7,124
10,788
67
2,722
65
62
108.015
$254,763 $ 80,694
The City of Fairhope's Federal Revenue Sharing funds received during
the fiscal years ended September 30, 1983 and 1982 were expended to
the City of Fairhope Public Library Board for operating and
maintenance of the Fairhope Public Library.
NOTE 7 1982 PUBLIC IMPROVEMENT ASSESSMENT FUND
The 1982 Public Improvement Assessment Fund was initiated to accumu-
late the cost of paving and water and sewer improvements, and to
assess and collect assessments from the property owners benefiting
from the public improvements. Also, the assessment fund will
account for the retirement of related long-term debt.
Construction was not complete as of September 30, 1983. Property
owners will be assessed for their share of the cost in fiscal year
1984.
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC
19
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 8 SINKING FUNDS - PROPRIETARY FUNDS
The cash and investments in these sinking funds (bond, reserve and
replacement funds) are restricted as to their use in accordance with
their respective bond indentures.
The amounts in the various sinking funds was as follows at
September 30:
1953 series
1961 series
1972 series
1973 series
1978 series
1982 series
1983 series
General obligation electric warrants
Total
September 30,
1983
1982
$ 26,476
$ 36,827
268,131
265,114
46,440
44,693
30,542
25,542
7,919
8,209
113,589
58,720
8,293
-
15,053
14,769
$516,443
$4532874
NOTE 9 REVENUE BONDS, NOTES AND WARRANTS PAYABLE - PROPRIETARY FUNDS
September 30,
1983 1982
Electric Fund
(a) General obligation electric warrants
dated January 1, 1982, interest
rate 5.2A payable semi annually,
remaining principal payable July 1,
1984 through July 1, 1988
Current $ 39,000 $ 36,000
Non current 181,000 220,000
Total 220,000 256,000
(b) Note payable Central Bank of the
South, dated November 24, 1981,
interest rate 10%, monthly
payments $833.50 including
interest, secured by computer
equipment
Current 7,578 6,860
Non current 20,075 27,653
Total 27,653 34,513
Natural Gas Fund
(a) First mortgage gas, water and waste-
water revenue bonds, 1961 series,
dated December 1, 1961, interest
rate 40 on $405,000, payable semi
annually, remaining principal payable
December 1, 1983 through December 1,
1991
Current 45,000 45,000
Non current 360,000 405,000
Total 405,000 450,000
(continued)
PARKER, FI CKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
20
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 9 REVENUE BONDS, NOTES AND WARRANTS PAYABLE - PROPRIETARY FUNDS
(continued)
Water and Wastewater Fund
(a) First mortgage water and wastewater
revenue bonds, 1953 series, dated
December 14, 1953, interest rate
4 3/4% payable semi annually, re-
maining principal payable January 1,
1984
Current
Non current
Total
(b) First mortgage water and wastewater
revenue bonds, 1972 series, dated
December 1, 1972, interest rate
4 1/2 to 5:, on $170,000 and 5 to
5.3% on $440,000, payable semi
annually, remaining principal
payable December 11 1983 through
December 1, 1994
Current
Non current
Total
(c) Special obligation wastewater revenue
bonds, Alabama Pollution Control
Finance Authority, 1973 series, dated
January 1, 1973, interest rate 5.9%
on $120,000, payable semi annually,
remaining principal payable January 1,
1984 through January 1, 1989
Current
Non current
Total
(continued)
September 30,
1983 1982
11,000 14,000
- 11,000
11,000 25,000
40,000 40,000
570,000 _ 605,000
610,000 645,000
20,000 20,000
100,000 120,000
120,000 140,000
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC
FA
21
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 9 REVENUE BONDS, NOTES AND WARRANTS PAYABLE - PROPRIETARY FUNDS
(continued)
(d) Water, gas and wastewater revenue
bonds, series 1978 dated December
1, 1978, interest rate 6% on
$75,000 and 6.2' on $285,000,
payable semi annually, principal
payable December 1, 1987 through
December 1, 1994
Current
Non current
Total
(a) Water Revenue Bond, dated April 4,
1982, issued to the United States
of America, Farmers Home Adminis-
tration, interest rate 5%, interest
payable January 1, principal payments
start January 1, 1985, bond matures
January 1, 2022
Current
Non current
(f) Water Revenue Bond, dated May 5, 1983,
issued to the United States of America,
Farmers Home Administration, interest
rate 5%, interest payable January 1,
principal payments start January 1,
1986, bond matures January 1, 2022
Current
Non current
TOTAL BONDS, NOTES AND WARRANTS
PAYABLE - PROPRIETARY FUNDS
NOTE 10 GENERAL OBLIGATION LONG TERM DEBT
September 30,
1983 1982
360,000 360,000
360,000 360,000
2,192,000 2,192,000
2,192,000 2,192,000
338,000 -
338,000
$4,2® 3 $4,1�13
The general obligation refunding warrants, Series 1982, recreational
and various purpose warrants and general obligation public improvement
bonds are general obligations of the City of Fairhope, Alabama and are
secured by a pledge of its full faith and credit.
The general obligation recreational warrants and interest are ,being
retired with the funds from the Recreation Capital Improvement Fund in
the Recreation Fund.
The general obligation public improvement bonds and $161,700 of the
general obligation various purpose warrants principal and interest are
being retired with funds from the 1977-1978 Public Improvement Assess-
ment Fund.
The mortgage payable to Central Bank of the South is secured by certain
parcels of land located at the City of Fairhope Municipal Airport.
The note payable to Central Bank of the South is secured by certain
equipment. The note matures on November 25, 1985.
$369,562 of the general obligation warrants dated June 1, 1983, will be
retired from the 1982 Public Improvement Assessment Fund.
PARKER, FICKLING, HARTMANN A HANAK, D.C. CERTIFIED PUBLIC ACCOUNTANTS
It
22
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 11 SUMMARY OF ALL LONG TERM DEBT OUTSTANDING - ALL FUNDS
September
30,
1983
1982
PROPRIETARY FUNDS
General obligation electric warrant
$ 220,000
$ 256,000
First mortgage revenue bonds - 1961
series
405,000
450,000
Water Revenue Bond (dated 5-5-83)
338,000
-
Water Revenue Bond (dated 4-4-82)
2,192,000
2,192,000
First mortgage revenue bonds - 1953
series
11,000
25,000
First mortgage revenue bonds - 1972
series
610,000
645,000
Special obligation revenue bonds -
1973 series
120,000
140,000
Revenue bonds - 1978 series
360,000
36b,000
Note payable - Central Bank of the
South
27,653
34,513
Total Proprietary Funds
4,283,653
4,102,513
GOVERNMENTAL FUND TYPES
General obligation refunding warrants
(dated 4-1-82)
330,000
370,000
General obligation recreational warrants
(dated 7-1-76)
195,000
215,000
General obligation various purpose
warrants (dated 12-1-78)
385,000
435,000
General obligation public improvement
bonds (dated 12-1-78)
240,000
280,000
General obligation warrants, Series 1982
(dated 6-1-82)
1,000,000
1,000,000
General obligation warrants
(dated 6-1-83)
1,430,000
-
Note payable, Central Bank of the South
(dated 2-24-80)
32,937
62,832
Mortgage payable, Central Bank of the South
16,806
55,000
Total Governmental Fund Types
3,629,743
2,417,832
TOTAL LONG TERM DEBT OUTSTANDING -ALL FUNDS
$7,913,396
$6,520,345
PARKER, FICKLING, HARTMANN i NANAK, P.C. CERTIFIED PUBLIC
23
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 12 CHANGES IN GENERAL LONG TERM DEBT
The following is a summary, for all funds, of all long term debt
transactions of the City for the year ended September 30, 1983:
Balance at October 1,
1982
New bonds and warrants
issued:
June 1, 1983, G.O.
Warrants
May 5, 1983, Water
Revenue Bond
Principal retired
Note &
Revenue General Obligation Mortgage
Bonds Warrants Bonds Payable Total
$3,812,000 $2,276,000 $ 280,000 $ 152,345 $6,520,345
1,430,000
338,000
1,430,000
338,000
(114,000) (146,000) (40,000) (74,949) (374,949)
BALANCE AT SEPTEMBER 30,
1983 $4,036,000 $3,560,000 $ 240,000 $ 77,396 $7,913,396
�® �o
On June 29, 1983, the City issued $1,430,000 principal amount of
General Obligation Warrants dated June 1, 1983. Proceeds of the
General Obligation Warrants were used as follows:
Deposit to debt service fund for redeeming General
Obligation Warrants, Series 1982, dated June 1,
1982. The Warrants were called by the City for
redemption on December 19 1983 in the principal
amount of $1,000,000 at 102 $1,020,000
Retirement of temporary note payable to Central
Bank of the South - Loan proceeds were used for
construction costs of 1982 Public Improvement
Assessment Fund 357,000
Warrant issue cost 53,000
TOTAL $1,430,000
PARKER, FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 13 SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
The following is a summary of debt service requirements to matur-
ity of general long term debt of the General, Special Revenue, Debt
Service and Special Assessment Funds as of September 30, 1983, in-
cluding interest payments:
Year
Ending '
General
General
September
Obligation
Warrants
Obligation
Bonds
30,
Principal
Interest
Principal
Interest
1984
$1,150,000 $
227,988
$ 40,000 $
12,880
1985
155,000
165,403
40,000
10,560
1986
165,000
156,084
40,000
8,240
1987
195,000
145,822
40,000
5,920
1988
195,000
133,335
40,000
3,580
1989
195,000
120,670
40,000
1,200
1990
205,000
107,816
1991
100,000
95,870
1992
75,000
88,620
1993
80,000
82,433
1994
45,000
75,633
1995
45,000
71,718
1996
50,000
67,758
1997
50,000
63,258
1998
60,000
58,708
1999
65,000
53,188
2000
75,000
47,175
2001
75,000
40,238
2002
80,000
33,300
2003
90,000
25,900
2004
90,000
17,575
2005
100,000
9,250
TOTALS
$3,340,000
$1,8872742
$ 240,000 $
42,380
PARKER, FICKLING, HARTM ANN & NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
24
Note Payable
Central Bank of
The South
Principal Interest
$ 32,937 $ 2,081
Mortgage Payable
Central Bank of
The South
Principal Interest
$ 16,806 $ 1,386
Total
Principal
Interest
$1,239,743
$ 244,335
195,000
175,963
205,000
164,324
235,000
151,742
235,000
136,915
235,000
121,870
205,000
107,816
100,000
95,870
75,000
88,620
80,000
82,433
45,000
75,633
45,000
71,718
50,000
67,758
50,000
63,258
60,000
58,708
65,000
53,188
75,000
47,175
75,000
40,238
80,000
33,300
90,000
25,900
90,000
17,575
100,000
9,250
Total
Principal
and
Interest
$1,484,078
370,963
369,324
386,742
371,915
356,870
312,816
195,870
163,620
162,433
120,633
116,718
117,758
113,258
118,708
118,188
122,175
115,238
113,300
115,900
107,575
109,250
$ 32,937 $ 2,081 $ 16,806 $ $3,629,743 $1,93�3,589 $5,563,332
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
25
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 14 INSURANCE COVERAGE
The Utility Funds casualty insurance coverage on electrical sub
stations, natural gas facilities, water and wastewater facili-
ties is included in a blanket policy with the Governmental Funds
general fixed assets building and facilities.
Comprehensive general liability $ 500,000
Natural gas liability $ 500,000
Vehicle bodily injury and property
damage liability $ 20,000
Crime and employee dishonesty $ 25,000
Public officials errors and omissions liability $1,000,000
Excess public officials errors and omissions
liability $1,000,000
NOTE 15 PROPERTY, PLANT AND EQUIPMENT - PROPRIETARY FUNDS
Changes during the year in property, plant and equipment were as
follows:
Natural
Water and
Electric
Gas
Wastewater
Fund
Fund
Fund
Balance, October 1, 1982
$3,058,870
$1,842,486
$7,153,113
Additions:
Self constructed:
Labor
20,517
32,611
19,657
Material
73,715
40,530
33,091
Contracted engineering
3,674
Vehicles and equipment
purchases
21,608
5,230
35,727
Water line construction -
Phase B completed
385,315
BALANCE, SEPTEMBER 30, 1983
$3,174,710
$1,920,857
$7,630,577
PARKER, FICKLING, HARTMANN A NANAK, P.C. CERTIFIED PUBLIC ACCOUNT
26
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 16 INFORMATION REQUIRED BY BOND INDENTURES
Electric
Fund
A. The following information provided
by City employees:
Natural Water and
Gas Wastewater
Fund Fund
Number
of
customers 3,719
4,416 5,353
Number
of
metered customers 3,719
4,416 5,353
Number
of
unmetered customers -
- -
Number
of
wastewater connections
2,975
8. All requirements of the respective bond indentures appeared to have been com-
plied with by the City.
NOTE 17 SALARIES - PROPRIETARY FUNDS
The
following is a summary of
employees' salaries by Utility
Fund for
the
years ended September 30,
1983 and 1982:
Natural
Water and
Electric
Gas
Wastewater
Fund
Fund
Fund
Year ended September
30, 1963:
Total salaries
$266,067
$212,095
$248,509
Less:
Salaries
capitalized for plant
additions
(20,517)
(32,611)
(19,657)
Amount of salaries charged to operations
$245,550
$179,484
$228,852
Year ended September 30, 1982:
Total salaries
$244,139
$185,245
$223,380
Less:
Salaries capitalized for plant
additions
(17,570)
(46,962)
(28,066)
Amount of salaries charged to operations
$226,569
$1381283
$195,314
PARKER, FICKLING, HARTMANN A NANAK, P.C. CERTIFIED PUBLIC
27
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 18 ELECTRIC ENERGY FURNISHED OTHER FUNDS
The selling price of electric energy delivered without charge by
the Electric Fund to various other funds (except the Water and
Wastewater Fund), boards and offices of the City of Fairhope is
charged to the Electric Fund's operations as electric energy
furnished other divisions of the City of Fairhope. The Water and
Wastewater Fund purchases at cost from the Electric Fund, electric
energy it receives.
NOTE 19 DEPRECIATION
The rates used in recording depreciation of plant and equipment of
the utility funds are annual straight line rates as follows:
Electric system 3.OA
Natural gas system 2.50
Water and wastewater system 2.5%
Vehicles and equipment 12.5% to 33.3%
NOTE 20 INDIVIDUAL FUND INTERFUND RECEIVABLE AND PAYABLE BALANCES
Individual fund interfund receivable and payable balances at
September 30, 1983 were as follows:
Interfund
Interfund
Receivable
Payables
General Fund
$116,796
$133,901
Special Revenue Funds:
Recreation Operating Fund
10,578
State Gasoline Tax Fund
68,240
Special Assessment Funds
110,368
Street Drainage Project Fund
652
Debt Service Funds
6,719
6,719
Enterprise Funds:
Electric Fund
129,913
104,435
Natural Gas Fund
137,046
63,189
Water and Wastewater Fund
17,225
46,097
TOTALS
$475,939
$475,939
PARKER, FICKLINO, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC
28
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 21 FEDERAL AVIATION ADMINISTRATION PROJECT ADAP 5-01-0029-03
The grant revenue recorded from the Federal Aviation Administra-
tion and expenditures made by the City of Fairhope on the
Municipal Airport Project ADAP 5-01-0029-03 for fiscal years ended
September 30, 1983, 1982, 1981 and 1980 were as follows:
Total
Year Ended September 30, (Memorandum
1983 1982 1981 1980 Only)
Grant revenue - FAA $ 40,445 $ 45,214 $407,219 $ 77,394 $570,Z72
Expenditures $ 2,237 $ 24,096 $456,539 $151,267 $634,139
Current year expenditures on the Municipal Airport Project ADAP
5-01-0029-03 were $2,237 and $88 for a future project for .a total
of $2,325.
NOTE 22 ACCOUNTING CHANGE - GOVERNMENTAL FUND TYPES
During the year ended September 30, 1983, the City changed its
method of accounting for Debt Service Funds. A retroactive adjust-
ment, effective as of October 1, 1981, was made to transfer the
assets, liabilities and fund balance of debt service accounts to
the Debt Service Fund from the General Fund and Recreation Capital
Improvement Fund. The fund balance of the General Fund as of
October 1, 1981 has been restated from a balance of $450,633 to
$197,336. The fund balance of the Recreation Capital Improvement
Fund as of October 1, 1981 has been restated from a balance of
$42,882 to $33,385. The decreases in fund balances to the two
funds of $253,297 and $9,497, respectively, consisted of the fund
balance applicable to the Debt Service Fund. The statements of
revenues and expenditures for the fiscal year ended September 30,
1982, included with the current year, have been restated to
reflect the change for comparative purposes.
Prior to October 1, 1982, the Fairhope Public Library' Board annual
financial statements were issued separately from the City.
Effective for the fiscal year ended September 30, 1983, the Public
Library Board financial statements are included with the City. The
fund balance of the Public Library Board at October 1, 1982 was
$49,124. This fund balance is reflected as a restatement to the
beginning fund balance at October 1, 1982.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC
29
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1983
NOTE 23 LITIGATION
The City of Fairhope at September 30, 1983 was named as a defendant in
the following law suits:
One case involves Bob Allen vs. James P. Nix, at al, in which the city
of Fairhope is a named defendant. This case involves an allegation of
deprivation of civil right under color of law. The plaintiff is
claiming compensatory damages in the amount of $1,000,000. The City's
insurance carrier, International Surplus Lines Insurance Company is
handling the case.
The other suit was filed by Philip S. Stenzel and Joan F. Murphy as
plaintiffs, naming the City of Fairhope as defendant. The suit
alleges that the City of Fairhope has breached a written agreement
entered into by the parties on the construction and permanent ease-
ment granted by the plaintiffs to the City of Fairhope over real
property owned by the plaintiffs for the construction and maintenance
of a sewer line by the City. The Plaintiffs are claiming that the
City has allowed erosion and slough off to occur to Plaintiff's
injury, and are requesting as damages the sum of $30v000. The City
has filed a counterclaim in the amount of $15,000 due to .the fact that
the plaintiffs have not allowed the agents, servants, or employees of
the City to maintain a concrete flume running from its sewer plant
down to the natural stream bed and out to Mobile Bay.
PARKER, FICKLING. HARTMANN i NANAK. P.C. CERTIFIED
SUPPORTING SCHEDULES
ADDITIONAL FINANCIAL INFORMATION
INDIVIDUAL FUND
FINANCIAL STATEMENTS
PARKER, FICKIING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC
r„
30
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983
1982
CASH
On hand
$
200
$
200
In banks
254,763
80,694
Total cash
254,963
80,894
RECEIVABLES
Street improvement assessments
11,360
15,917
Miscellaneous receivables
6,465
6,440
Accrued interest receivable
-
652
Due from other funds of the City of Fairhope:
1977-1978 Public Improvement Assessment Fund
-
18,241
Street Drainage Capital Projects Fund
652
-
Natural Gas Fund
63,189
77,005
1982 Public Improvement Assessment Fund
42,377
7,040
Water and Wastewater Fund
-
8,090
Recreation Fund
10,578
520
Allowance for doubtful accounts
(4,212)
(4,212)
Total receivables
130,409
129,693
TOTAL ASSETS
$
385,372
$
210,587
LIABILITIES AND FUND
BALANCE
LIABILITIES
Accounts payable, trade
$
47,150
$
33,035
Payroll taxes payable
14,862
9,575
Employees' retirement payable
11,420
7,450
Sundry payables
644
698
Due to other funds of the City of Fairhope:
State Gasoline Tax Fund
249
-
Electric Fund
129,913
10,983
Water and Wastewater Fund
3,73.9
-
Civic Center Capital Project Fund
-
66,662
TOTAL LIABILITIES
207,977
128,403
FUND BALANCE
177,395
82,184
TOTAL LIABILITIES AND FUND BALANCE
$
3851372
$
210,587
The notes to the financial statements are an integral part of this statement.
PARKER. FICKLING. HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
31
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF CHANGES IN FUND BALANCE
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983 1982
FUND BALANCE AT BEGINNING OF YEAR $ 82,184 $
As previously reported 450,633
Transfer of debt service sinking funds
as of October 1, 1981 to debt service
funds (Note 22) (253,297)
FUND BALANCE AT BEGINNING OF YEAR - RESTATED
82,184
197,336
General Fund Revenues
1,950,327
1,727,789
General Fund Expenditures
1,855,116
1,842,941
Excess revenues over (under) expenditures
95,211
(115,152)
FUND BALANCE AT END OF YEAR
$ 177,395
$ 82,184
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
....ti -4-
32
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF REVENUES WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
LOCAL TAXES
Real estate
$ 315,382
$ 212,000
$ 103,382
$ 181,384
Automobile tags and tax
48,279
55,000
(6,721)
51,508
Beer tax
41,519
30,000
11,519
31,992
Liquor tax
15,073
15,000
73
15,518
Wine tax
7,469
6,500
969
6,637
Dog tax
331
200
131
182
Total
428,053
318,700
109,353
287,221
LICENSES AND PERMITS
Business licenses
128,535
120,000
8,535
119,831
Beer and liquor licenses
7,820
8,200
(380)
6,404
Job license fees
2,281
2,300
(19)
1,198
Building permits and
inspection fees
17,040
12,000
5,040
9,471
Rezoning permits
1,575
1,000
575
620
Insurance company franchise
55,570
42,000
13,570
42,804
Cable T. V. franchise
5,374
5,000
374
5,175
Total
218,195
190,500
27,695
185,503
FINES AND FORFEITURES
102,802
109,000
(6,198)
110,995
STATE OF ALABAMA
Share of state liquor profits
16,024
17,000
(976)
17,136
ABC store sales tax
8,506
3,500
5,006
647
Financial institution excise tax
3,138
25,000
(21,862)
24,973
Motor vehicle licenses
2,483
2,483
2,409
Oil production privilege tax
3,689
3,300
389
3,533
Grant, windfall monies
-
300,000
(300,000)
-
Grant, CEIG
-
66,144
Total
33,840
348,800
(314,960)
114,842
UNITED STATES GOVERNMENT
Federal Aviation Administration
(Note 21)
40,445
40,445
45,214
Federal Emergency Management
Agency
-
10,429
Total
40,445
40,445
55,643
PARKER, FICKLINO, HARTMANN i NANAK, P.C. CERTIFIED
33
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF REVENUES WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
INTEREST AND RENTS
Interest - bank deposits
$ 15,521
$ 5,800
$ 9,721 $
7,534
Interest - street assessments
611
1,000
(389)
824
Municipal airport lease
3,905
6,500
(2,595)
5,536
Municipal pier lease
9,443
8,500
943
10,732
Fishing dock stall rentals
4,348
6,000
(1,652)
3,598
Civic Center building - rentals
33,232
26,296
6,936
21,926
Other rents
1,344
1,400
(56)
2,605
Total
68,404
55,496
12,908
52,755
CHARGES FOR SERVICES
Burglar alarm fees
3,090
2,725
365
2,995
Sanitation collection
112,439
110,000
2,439
110,261
Dog pound fees
2,715
600
2,115
535
Total
118,244
113,325
4,919
113,,791
OTHER REVENUES
f
Beach revenue
11,609
16,000
(4,391)
14,221
Donations:
Fairhope Single Tax Colony
-
3,000
Fireworks and trees
785
785
5,658
Sale of fixed assets
127,751
127,751
723
Grant, South Alabama Regional
Planning Commission
3,840
3,300
540
3,600
July 4th booth
-
1,525
Insurance claims
1,296
1,296
1,923
Sales of materials and
miscellaneous income
2,701
2,400
301
3,500
Total
147,982
21,700
126,282
34,150
LOAN PROCEEDS
TRANSFERS FROM OTHER FUNDS
State Gasoline Tax Funds
Capital Projects Fund
Electric Fund
Natural Gas Fund
Water and Wastewater Fund
Total
TOTAL REVENUES
65,000
10,645
354,000
342,717
20.000
792,362
354,000
310,000
20,000
684,000
65,000
10,645
32,717
108,362
$1,95® $1,84® $ 108 806
76,722
392,000
284,167
20.000
696,167
$1,727,!789
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING. HARTMANN A NANAK. P.C. CERTIFIED PUSUC ACCOUNTANTS
e
34
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF EXPENDITURES WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
GENERAL GOVERNMENT
Salaries:
Mayor and council $
City clerk and assistants
Building inspector, janitor
mechanics and Civic Center
City attorney
City judge
Convention, travel and continuing
education
Audit fees
Legal fees
General supplies and maintenance
Office supplies and postage
Telephone
Computer service
Publications in newspaper
Dues and memberships
Insurance, casualty
Colony rent
Payroll taxes
Employees' retirement
Employees' medical insurance
Municipal airport operating expenses
Professional services
Employees' Christmas bonus
Miscellaneous
Shuttle bus expense
Freight
Musiac
City computer expense
Maintenance - Adult Recreation Center
Maintenance - Fishermans Wharf
Maintenance - Health Center
Maintenance - Civic Center -
Church Street
Christmas decorations
Municipal code
Trustee fees
Bad debts
Transfer to Recreation Fund
Chamber of Commerce
Capital purchases - general
Capital purchases - Civic
1983
Over (Under)
Actual Budget Budget
1982
Actual
9,500
$ 8,400
$ 1,100 $
9,500
37,988
34,450
3,538
31,959
57,411
47,207
10,204
34,439
5,100
6,000
(900)
5,100
6,741
7,062
(321)
6,300
10,923
11,600
(677)
7,531
4,065
3,800
265
3,800
7,553
3,000
4,553
2,269
16,974
17,000
(26)
16,377
11,037
10,000
1,037
8,658
15,902
12,400
3,502
13,108
1,718
2,000
(282)
1,773
1,879
2,000
(121)
2,092
4,863
5,300
(437)
5,476
34,283
34,454
(171)
32,584
4,266
4,941
(675)
4,841
11,063
7,512
3,551
7,014
7,128
7,843
(715)
7,925
10,953
12,000
(1,047)
5,593
3,687
1,500
2,187
2,152
8,584
4,200
4,384
2,430
2,700
2,900
(200)
2,600
305
2,600
(2,295)
565
3,407
3,000
407
3,402
454
500
(46)
361
750
300
450
405
346
1,500
(1,154)
1,410
268
400
(132)
2,249
1,688
900
788
-
202
300
(98)
125
300
400
(100)
410
1,708
1,708
-
1,203
1,203
6,884
466
500
(34)
466
-
2,857
-
2,846
1,200
1,200
900
7,986
10,000
(2,014)
7,948
Center Complex 77,051 77,051 -
Total 371,652 267,169 104,483 244,349
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
35
0
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF EXPENDITURES WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
BEACH DEPARTMENT
Salaries
$ 4,032
$ 4,400
$ (368)
$ 4,368
Beach repairs and maintenance
2,845
5,000
(2,155)
2,277
Beach decals
3,465
3,465
-
Payroll taxes
270
295
(25)
293
Total
10,612
9,695
917
6,938
SANITATION DEPARTMENT
Equipment repairs and
maintenance
-
7,000
(7,000)
6,549
Trash contract
80,940
76,000
4,940
76,000
Sanitation contract
98,063
96,000
2,063
95,325
Landfill charges
20,188
21,500
(1,312)
18,965
Rent
3,759
1,000
2,759
4,230
Total
202,950
201,500
1,450
201,069
POLICE DEPARTMENT
Salaries
281,130
272,500
8,630
251,444
Gasoline and oil
13,124
15,000
_ (1,876)
16,003
Auto repairs and maintenance
8,464
9,000
(536)
10,605
Maintenance of radio equipment
620
1,300
(680)
818
Radio lease
2,400
1,350
1,050
1,950
Jail and police supplies
6,812
7,500
(688)
8,094
Uniforms
2,169
3,500
(1,331)
3,590
Training
1,111
900
211
791
Police annuity and driver
education funds
3,980
5,000
(1,020)
4,826
City computer
4,525
4,100
425
3,496
Prisoners' meals
2,765
2,500
265
2,081
Payroll taxes
18,970
18,500
470
16,811
Employees' retirement
22,283
22,000
283
21,901
Employees' medical insurance
21,397
19,700
1,697
18,751
NCIC data system
3,300
3,000
300
3,120
Miscellaneous
417
300
117
462
Repairs and general maintenance
1,932
2,000
(68)
2,237
Capital purchases
22,081
15,000
7,081
29,676
Total
417,480
403,150
14,330
396,656
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, HARTMANN i MANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
36
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF EXPENDITURES WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
FIRE DEPARTMENT
Salaries
$ 72,114
$ 64,100
$ 8,014 $
60,346
Gasoline and oil
3,611
3,000
611
2,805
Supplies
5,942
3,000
2,942
3,491
Vehicle and equipment repairs
13,360
5,000
8,360
8,102
Repairs and general maintenance
2,709
1,500
1,209
1,575
Training
3,014
2,400
614
1,601
Insurance - Volunteer Fire Dept.
1,030
709
321
709
Miscellaneous
563
2,400
(1,837)
-
Payroll taxes
4,832
4,300
532
4,036
Employees' retirement
5,827
5,200
627
5,186
Employees' medical insurance
5,272
5,500
(228)
5,272
Capital purchases
33,951
4,000
29,951
2,074
Total
152,225
101,109
51,116
95,197
STREET DEPARTMENT
Salaries
194,149
209,000
(14,851)
189,604
Gasoline and oil
30,911
27,000
3,911
31,070
Repairs and maintenance -
Vehicles and equipment
50,612
30,500
20,112
49,711
Materials and supplies
34,293
40,000
(5,707)
28,953
Equipment rental
2,725
500
2,225
888
Uniforms
5,720
6,600
(880)
4,454
Payroll taxes
13,564
14,200
(636)
12,679
Employees' retirement
14,941
16,900
(1,959)
16,337
Employees' medical insurance
20,793
18,300
2,493
17,424
Capital purchases
25,598
25,000
598
54,037
Total
393,306
388,000
5,306
405,157
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
37
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF EXPENDITURES WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1963 1982
Over (Under)
Actual Budget Budget Actual
STAFF AGENCIES AND OTHER:
Staff agencies:
Industrial Board $ 74
Planning Board 47
Harbor Board 634
Other:
Fairhope Public Library:
Monthly transfer 25,719
Other expenses 756
Fireworks Committee 4,377
Baldwin County Civil Defense 144
Total 31,751
DEBT SERVICE
Transfers to debt service -funds 272,815
Interest - short term loans -
Total 272,815
OTHER EXPENDITURES
$
1,200
25,383
144
26.727
218,500
$ 74 $ -
(1,153) 1,683
634 -
336
756
4,377
iIW*Zl
54,315
218,500 54,315
21,883
360
5,433
144
29,503
154,619
42,669
197,288
Drainage project - 300,000 (300,000) 74,760
Municipal Airport (Note 21) 2,325 2,325 24,096
Transfer to Civic Center Fund - 167,928
Total 2,325 300,000 (297,675) 266,784
TOTAL EXPENDITURES $1,855,116 $1,91�5,850 $ (60,734) $1,842,941
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1983
ASSETS
CASH
In bank
On hand
RECEIVABLES
Due from other funds of the City
Miscellaneous
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable, trade
Payroll taxes payable
Payable - Other funds of the
City
TOTAL LIABILITIES
FUND BALANCE
TOTAL LIABILITIES AND FUND BALANCE
Revenue State Recreation Recreation
Sharing Gasoline Tax Operating Improvement
$ 1 $ 33,335 $ 14,176 $ 38,106
200
68,240
$ 1 $ 101,575 $ 14,376 $ 38,106
$ $ $ 486 $
97
10,578
11,161 -
1 101,575 3,215 38,106
$ 1 $ 101,575 $ 14,376 $ 38,106
PARKER, FICKLING, HARTMANN 4 NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
38
Public
Library
Board
$ 33,861
926
$ 34,787
$ 1,317
1,327
2,644
32,143
$ 34,787
1983
200
68,240
926
$188,845
$ 1,803
1,424
10,578
13,805
175,040
$188,845
Totals
(Memorandum Only)
September 30,
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ALL SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE - ACTUAL AND BUDGET
FOR THE YEAR ENDED SEPTEMBER 30, 1983
State
Public
Revenue
Gasoline
Recreation
Recreation
Library
Sharing
Taxes
Operating
Improvement
Board
REVENUES
Taxes - local
$
$
$ 67,431
$ 41,381
$
State of Alabama
49,530
United States Government
49,281
Interest
709
3,774
Other revenues
4,996
14,135
Transfers from other funds
75,000
Total revenues
49,281
49,530
72,427
42,090
92,909
EXPENDITURES
Street department
13,164
Transfers to other funds
49,281
65,000
30,162
Recreation department
69,102
1,859
Public Library Board
109,890
Total expenditures
49,281
78,164
69,102
32,021
109,890
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
(28,634)
31325
10,069
(16,981)
FUND BALANCE AT BEGINNING
OF YEAR
As previously stated
1
130,209
(110)
28,037
-
Transfer debt service sinking
funds as of October 1, 1981
Public Library Board fund
balance - reported in prior
years in separate statements
(Note 22)
49,124
As restated
1
130,209
(110)
28,037
49,124
FUND BALANCE AT END OF YEAR
$ 1
$ 101,575
$ 3,215
$ 36,106
$ 32,143
PARKER, FICKLI NG, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
39
Totals
(Memorandum Only)
Year Ended September 30,
1983 1982
Over
(Under)
Actual Budget Budget
$ 108,812 $ 87,000
49,530 49,000
49,281 49,617
4,483 400
19,131 14,300
75,000 75,000
306,237 275,317
13,164 16,800
144,443 78,617
70,961 57,800
109,890 85,900
338,458 239,117
(32,221) 36,200
158,137 158,137
$ 21,812 $ 96,456
530 49,664
(336) 48,116
4,083 689
4,831 4,665
14,346
30,920 213,936
(3,636) 9,674
65,826 48,117
13,161 85,787
23.990 41.662
99,341 185,240
(68,421) 28,696
49,124 49,124
207,261 158,137
$ 175,040 $ 194,337
49,124 129,441
$ (192297) $ 1582137
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING. HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
40
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
FEDERAL REVENUE SHARING FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
CASH
In bank
LIABILITIES AND FUND BALANCE
LIABILITIES
FUND BALANCE
TOTAL LIABILITIES AND FUND BALANCE
1983 1982
$ 1 $ 1
1
1
$ 1
$ 1
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN A NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
41
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
FEDERAL REVENUE SHARING FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
REVENUE
Federal Entitlement -
U. S. Revenue Sharing
EXPENDITURES
Transfers to the Fairhope
Public Library Board
EXCESS REVENUE OVER (UNDER)
EXPENDITURES
FUND BALANCE AT BEGINNING OF
YEAR
FUND BALANCE AT END OF YEAR
1983 1982
Over (Under)
Actual Budget Budget Actual
$ 49,281
49,281
$ 49,617
49,617
$ (336) $ 48,116
(336)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
48,117
(1)
2
$ 1
42
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
STATE OF ALABAMA GASOLINE EXCISE TAX FUNDS
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983 1982
CASH
In bank:
Checking account, 7f tax fund $ 19,492 $ 31,090
Checking account, 40 tax fund 13,843 31,128
Total cash 33,335 62,218
RECEIVABLES
Due from City of Fairhope, 1977-1978
Public Improvement Assessment Fund 67,991 67,991
Due from General Fund 249 -
Total receivables 68,240 67,991
TOTAL ASSETS $101,575 $1302209
LIABILITIES AND FUND BALANCE
LIABILITIES $ - $ -
FUND BALANCE 101,575 130,209
TOTAL LIABILITIES AND FUND BALANCE $101,575 $130,209
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, HARTMANN L NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
43
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
STATE OF ALABAMA GASOLINE EXCISE TAX FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
REVENUES:
State of Alabama
Gasoline excise tax (7f)
$ 31,565
$ 31,000
$ 565
$ 31,732
Gasoline excise tax (4t)
17,965
18,000
(35)
117,932
Total revenues
49,530
49,000
530
49,664
EXPENDITURES
Rental
-
757
Office supplies
-
29
Street materials and
supplies
13,164
16,800
(3,636)
8,888
Transfers to General Fund
65,000
65,000
-
Total expenditures
78,164
16,800
61,364
9,674
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
(28,634)
32,200
(60,834)
39,990
FUND BALANCE AT BEGINNING
OF YEAR
130,209
130,209
90,219
FUND BALANCE AT END OF YEAR
$101,575
$162,409
$(60,834)
$130,209
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
44
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION OPERATING FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983 1982
Cash
On hand $ 200 $ 150
In bank 14,176 1,565
Accounts receivable - 2.200
TOTAL ASSETS $ 14,376 $ 3,915
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable, trade $ 486 $ 3,308
Payroll taxes payable 97 197
Due to City of Fairhope - General Fund 10,578 520
TOTAL LIABILITIES 11,161 4,025
FUND BALANCE (DEFICIT) 3,215 (110)
TOTAL LIABILITIES AND FUND BALANCE $ 14,376 $ 3,915
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
45
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION OPERATING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
REVENUES
Cigarette tax
Beer tax
Transfer from Recreation
Improvement Fund
Parking at stadium
Miscellaneous
Transfer from General Fund
Fairhope High School
Total revenues
EXPENDITURES
Salaries
Payroll taxes
Athletic equipment
Repairs, maintenance
and supplies
Telephone and utilities
Arts and Crafts, Music
Gasoline and oil
Audit
Adult and tourist
recreation program
Tennis director
Baseball clinic
Colony rent
Rental
Football parking attendants
Miscellaneous
Insurance
Capital purchases
Retirement expense
Christmas bonus
Donation - Reserve police
1983
Over (Under)
Actual Budget Budget
1982
Actual
$ 26,762 $ 24,000 $ 2,762 $ 28,694
40,669 30,000 10,669 31,966
11,500
2,120
2,000
120
1,110
1,076
1,076
1,755
-
2,846
1,800
1,800
1,800
72,427
57,800
.14,627
79,671
29,515
17,000
12,515
19,872
2,745
1,700
1,045
1,283
1,461
1,100
361
3,041
19,612
12,000
7,612
19,423
1,702
2,350
(648)
3,251
500
800
(300)
500
2,604
2,800
(196)
3,493
550
400
150
500
2,700
900
500
2,236
684
236
48
1,355
904
250
600
TOTAL EXPENDITURES (carried forward) 69,102
2,900
900
800
2,250
1,600
1,400
400
9,400
57,800
(continued)
PARKER, FICKLING, HARTMANN i NANAK, P.C. CERTIFIED PUBLIC
(200)
(300)
(14)
(916)
(1,164)
48
955
(9,400)
904
250
600
11,302
2,700
900
500
2,236
636
450
121
25,979
431
300
85,616
46
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION OPERATING FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
TOTAL EXPENDITURES (brought forward)
$ 69,102
$ 57,800
$ 11,302
$ 85,616
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
3,325
3,325
(5,945)
FUND BALANCE AT BEGINNING OF YEAR
(110)
010)
-
5,835
FUND BALANCE AT END OF YEAR
$ 3,215
$ (110)
$ 3,325
$ (110)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, HARTMANN a NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
47
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION CAPITAL IMPROVEMENT FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983 1982
CASH IN BANK:
Recreation Project Improvement - checking $ 23,896 $ 14,536
Recreation Project Improvement - savings 14,210 13,501
Total cash 38,106 28,037
TOTAL ASSETS $ 38,106 $ 28,037
LIABILITIES AND FUND BALANCE
LIABILITIES $ - $ -
FUND BALANCE
TOTAL LIABILITIES AND FUND BALANCE
38,106 28,037
$ 38,106 $ 28,037
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
48
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION CAPITAL IMPROVEMENT FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
REVENUES
Cigarette tax
Beer tax
Interest earned
Total revenues
EXPENDITURES
Transfers to debt service fund
Transfer to Recreation
Operating Fund
Capital purchases
Professional services
Total expenditures
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
FUND BALANCE AT BEGINNING
OF YEAR - AS PREVIOUSLY STATED
Transfer of debt service
sinking fund as of
October 1, 1981 (Note 22)
FUND BALANCE AT BEGINNING
OF YEAR - RESTATED
FUND BALANCE AT END OF YEAR
1983
Over (Under)
Actual Budget Budget
$ 13,465 $ 13,000 $ 465
27,916 20,000 7,916
709 709
42,090 33,000 9,090
30,162
1,859
32,021
10.069
28,037
28,037
29,000
29,000
4,000
28,037
26,037
1,162
1,859
3,021
6,069
1982
Actual
$ 14,442
21,354
689
36,485
30,162
11,500
171
41,833
(5,348)
42,882
(9,497)
33,385
$ 38,106 $ 32,037 $ 6,069 $ 28,037
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, MART MANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
49
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
CITY OF FAIRHOPE PUBLIC LIBRARY BOARD
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983 1982
CASH
NOW account $ 17,029 $ 10,233
Retail repurchase agreement - 10,673
Savings account - regular 568 538
Flexifund account 16,264 -
Certificate of deposit - 28,281
Total cash 33,861 49,725
RECEIVABLES
State Department of Industrial Relations 926 -
TOTAL ASSETS $ 34,787 $ 49,725
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable, trade $ 1,317 $ 439
Payroll taxes payable 1,327 162
TOTAL LIABILITIES 2,644 601
FUND BALANCE 32,143 49,124
TOAL LIABILITIES AND FUND'BALANCE $ 34,787 $ 49,725
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN & NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
I
50
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
CITY OF FAIRHOPE PUBLIC LIBRARY BOARD
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
REVENUES
Transfers from other funds of
the City of Fairhope
Fines
Lost books
Gifts and memorials
Copier receipts
Meeting room rent
Memberships - out of city
Interest income
Sale of furniture and .fixtures
Miscellaneous income
Total revenues
EXPENDITURES
Salaries
Payroll taxes
Book purchases
Periodicals
Supplies and postage
Telephone
Utilities
Repairs and maintenance
Janitorial service
Audit and legal services
Dues and registration
Miscellaneous
Travel and conventions
Audio visual and film circuit
Bookkeeping
Furniture and equipment
New library
Rent
Childrens' programs
Insurance, casualty
Publicity
Employees' hospitalization
insurance
Employees' retirement
Total expenditures
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
1983
1982_
Over (Under)
Actual
Budget
Budget
'"Actual
$ 75,000
$ 75,000
$
$ 70,000
2,928
3,000
(72)
2,606
263
263
370
3,928
4,000
(72)
3,258
185
700
(515)
2,709
200
200
570
3,020
2,500
520
2,135
3,774
400
3,374
4,688
1,995
1,995
-
1,616
300
1,316
391
92,909
41,746
3,255
16,977
2,444
2,471
798
4,537
707
1,115
550
83
552
161
2,398
1,738
1,603
23,886
462
272
85
143
1,901
2,006
109,890
(16,981)
85,900
43,331
3,724
14,000
3,916
3,600
750
4,500
500
1,200
430
100
400
250
1,500
1,750
1,000
231
600
85
150
1,893
1,990
85,900
7,009
(1,585)
(469)
2,977
(1,472)
(1,129)
48
37
207
(85)
120
(17)
152
(89)
898
(12)
603
23,886
231
(328)
(7)
8
16
23,990
(16,981)
FUND BALANCE AT BEGINNING OF YEAR 49,124 49,124
FUND BALANCE AT END OF YEAR $ 32,143 $ 49,124 $(16,981)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
86,727
38,379
3,532
12,501
2,145
4,287
724
3,892
1,260
1,200
760
100
484
238
1,688
1,567
754
462
406
85
174
1,068
2.265
77,971
8,756
40,368
$ 49,124
51
CITY OF FAIRHOPE, ALABAMA
SPECIAL ASSESSMENT FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1983
Public Improvement
Assessment Funds
ASSETS 1977-1978 1982
CASH
Checking and savings accounts $ 22,857 $ 27,396
Certificate of deposit 251,245
Bond sinking funds with trustee 64,301 13,257
Total cash 338,403 40,653
RECEIVABLES
Totals
(Memorandum Onl
September 30,
1983 1982
$ 50,253 $ 16,727
251,245 242,935
77,558 67,023
379,056 326,685
1977-1978 assessments 229,154 229,154 291,167
Accrued interest on certificates
of deposit - 6,042
Total receivables 229,154 229,154 297,209
CONSTRUCTION WORK IN PROGRESS 465,046 465,046 7,040
TOTAL ASSETS $ 567,557 $ 505,699 $1,073,256 $ 630,934
LIABILITIES AND FUND BALANCE
LIABILITIES
Due to City of Fairhope -
State Gasoline Fund
$ 67,991
$
$ 67,991
$ 67,991
Due to City of Fairhope -
General Fund
42,377
42,377
25,281
General obligation improvement
bonds payable - dated
December 1, 1978
240,000
240,000
280,000
General obligation various
purpose warrants payable -
dated December 1, 1978
161,700
161,700
182,700
General obligation warrants
payable - dated June 1, 1983
369,562
369,562
-
Advance collection on assessments
50,000
50,000
-
Contracts payable
40,372
40,372
-
TOTAL LIABILITIES
469,691
502,311
972,002
555,972
FUND BALANCE
97,866
3,388
101,254
74,962
TOTAL LIABILITIES AND FUND BALANCE
$ 567,557
$ 505,699
$1,073,256
$ 63O 934
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
52
CITY OF FAIRHOPE, ALABAMA
SPECIAL ASSESSMENT FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCE - ACTUAL AND BUDGET
FOR THE YEAR ENDED SEPTEMBER 30, 1983
REVENUES
Interest earned:
Assessments
Bank deposits
Total revenues
EXPENDITURES
Debt service interest
Trustee fees
Total expendi-
tures
EXCESS REVENUES OVER
EXPENDITURES
FUND BALANCE AT
BEGINNING OF YEAR
FUND BALANCE AT END
OF YEAR
Public Improvement
Assessment Funds
1977-
1978
$ 23,522
26,131
49,653
1982
3,388
3,388
Totals
(Memorandum Only)
Year Ended
September 30,
1983
1982
Over
(Under)
Actual
Budget Budget
Actual
$ 23,522
$ 30,000 $ (6,478)
$ 30,551
29,519
20,000 9,519
36,963
53,041
50,000 3,041
67,514
25,812 25,812 27,000
937 937 iT900
l
26,749 26,749 27,900
22,904 3,388 26,292 22,100
74,962 74,962 74,962
$ 97,866 $ 3,388 $101,254 $ 97,062
(1,188) 29,339
37 937
(1,151) 30,276
4,192 37,238
37,724
$ 4,192 $ 74,962
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1983
ASSETS
CASH AND INVESTMENTS
Debt service reserve - cash
Sinking funds with trustee
Sinking funds - cash
Due from other funds of the
,City of Fairhope
Notes receivable
Accrued interest receivable
TOTAL ASSETS
LIABILITIES AND FUND BALANCES
LIABILITIES
Matured interest payable
Due to other funds of the
City of Fairhope
TOTAL LIABILITIES
FUND BALANCES - RESERVED
FOR DEBT SERVICE
TOTAL LIABILITIES AND FUND BALANCES
4-1-82
7-1-76
12-1-78
6-1-82
G. 0.
G. 0.
G. 0.
G. 0.
Refunding
Recreational
Various
Warrants
Warrants
Warrants
Purpose
Series
Warrants
1982
33,454
52,288
11,640
20,604
6,719
134,361
10,136
$ 59,007 $ 11,640 $1-77,951 $ 20,604
$ $ $ $ 538
6,719
7,257
59,007 11,640 177,951 13,347
$ 59,007 $ 11,640 $177,951 $ 20,604
PARKER, FICKLING, HARTMANN A HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
53
G.O. Note
Payable
Central
Bank of
The South
$
3,305
3,305
$ 3,305
Mortgage
Payable
Central 6-1-83
Bank of G. 0.
The South Warrants
$ $1,020,000
37,732
$ - $1,057,732
1,057,732
$ - $1,057,732
Totals
(Memorandum Onl
September 30,
1983
1982
$1,020,000
$ -
71,186
32,760
87,837
99,602
6,719
-
134,361
151,156
10,136
11,402
$1,3302239
$294,920
$ 538 $ -
6,719 -
7,257
1,322,982 294,920
$1,330,239 $294,920
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN d HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE - ACTUAL AND BUDGET
FOR THE YEAR ENDED SEPTEMBER 30, 1983
REVENUES
Bond proceeds
Interest income
Transfers from General Fund
Transfers from Recreation
Capital Improvement Fund
TOTAL REVENUES
EXPENDITURES
Bond issuance expenses
Debt service payments:
Principal
Interest
TOTAL EXPENDITURES
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
Fund balance at beginning of year
Warrant proceeds for debt
retirement (Note 12)
FUND BALANCE AT END OF YEAR
4-1-82
7-1-76
12-1-78
6-1-82
G. 0.
G. 0.
G. 0.
G. 0.
Refunding
Recreational
Various
Warrant
Warrants
Warrants
Purpose
Series
Warrants
1982
$
$
$
$
2,336
934
13,040
1,830
70,625
13,245
84,687
30,162
72,961
31,096
26,285
86,517
40,000
20,000
29,000
23,125
12,500
14,652
107,500
63,125
32,500
43,652
107,500
9,836
(1,404)
(17,367)
(20,983)
49,171
13,044
195,318
34,330
$ 59,007
$ 11,640
$1772951
$ 13,347
PARKER, FICKLING, HARTMANN i NANAK, I.C. CERTIFIED PUBLIC ACCOUNTANTS
54
Totals
(Memorandum
Only)
G. 0. Note
Mortgage
Year Ended
September 30,
Payable
Payable
1983
1982
Central
Central
6-1-83
Over
Bank of
Bank of
G. 0.
(Under)
The South
The South
Warrants
Actual
Budget
Budget
Actual
$
$
$ 40,438
$ 40,438
40,438
$ -
244
7,466
25,850
25,000
850
22,846
35,088
41,656
27,514
272,815
218,500
54,315
154,619
30,162
29,000
1,162
30,162
35,332
41,656
75,418
369,265
272,500
96,765
207,627
37,686
37,686
37,686
-
29,895
38,194
157,089
84,000
73,089
112,890
5,189
3,462
166,428
163,500
2,928
62,611
35,084
41,656
37,686
361,203
247,500
113,703
175,501
248
37,732
8,062
25,000
(16,938)
32,126
3,057
294,920
294,920
262,794
1,020,000
1,020,000
1,020,000
-
$ 3,305
$ -
$1,057,732
$1,322,982
$319,920
$1,003,062
$294,920
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN 8 HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
55
CITY OF FAIRHOPE, ALABAMA
CIVIC CENTER CAPITAL PROJECT FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
CASH
Cash in bank:
Savings and checking accounts
Due from General Fund of the City
of Fairhope
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable, trade
FUND BALANCE
TOTAL LIABILITIES AND FUND BALANCE
1983 1982
$ $ 7,983
66,662
$ - $ 74,645
$ $ 74,645
$ - $ 74,645
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, HARTMANN A NANAK, P.C. CERTIFIED PUSUC ACCOUNTANTS
56
CITY OF FAIRHOPE, ALABAMA
CIVIC CENTER CAPITAL PROJECT FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED DECEMBER 30, 1983 AND 1982
REVENUES
Transfers from General Fund of
the City of Fairhope
Interest earned
Loan proceeds - warrant issue
Donation
Total revenues
EXPENDITURES
Transfers to General Fund
Capital purchases - building
improvements and equipment
Total expenditures
EXCESS REVENUES OVER (UNDER)
EXPENDITURES
FUND BALANCE AT BEGINNING OF YEAR
FUND BALANCE AT END OF YEAR
1983 1982
Over (Under)
Actual Budget Budget Actual
10,645
10,645
10,645
10,645
$ $167,928
6,653
600,000
27.835
802,416
863,291
863,291
(60,875)
60,875
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLINO, HARTMANN A NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
57
CITY OF FAIRHOPE, ALABAMA
STREET DRAINAGE CAPITAL PROJECT FUND
COMMUNITY DEVELOPMENT BLOCK GRANT NO. L-SP-PF-82-126
BALANCE SHEET
SEPTEMBER 30, 1983
ASSETS
Cash $ 390
TOTAL ASSETS $ 390
LIABILITIES AND FUND BALANCE
LIABILITIES
Due to City of Fairhope - General Fund $ 652
FUND BALANCE (262)
TOTAL LIABILITIES AND FUND BALANCE $ 390
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN & NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
58
CITY OF FAIRHOPE, ALABAMA
STREET DRAINAGE CAPITAL PROJECT FUND
COMMUNITY DEVELOPMENT BLOCK GRANT NO. L-SP-PF-82-126
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 1983
Over (Under)
Actual Budget Budget
REVENUE
Federal grants - CDBG $ 29,623 $ $ 29,623
EXPENDITURES
Engineering 9,000 9,000
Easement acquisition 655 655
Adminstration 20,230 20,230
Total expenditures 29,885 29,885
EXCESS REVENUE OVER (UNDER) EXPENDITURES (262) (262)
Fund balance at beginning of year -
FUND BALANCE AT END OF YEAR $(262) $ $ (262)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ELECTRIC FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983 1982
CURRENT ASSETS
Cash:
Operating account $ 338,819 $ 152,599
Passbook savings accounts 38,695 47,857
Certificates of deposit 197,440 243,688
Sinking fund - general obligation electric
warrants 15,053 14,768
Total cash 590,007 458,912
Receivables:
Utility customers
362,846
372,866
Accrued interest
2,554
1,887
Miscellaneous
748
1,681
Allowance for uncollectible accounts
(24,162)
(60,895)
Total receivables
341,986
315,539
Materials inventories
74,251
78,193
Prepaid operating expenses
7,727
7,727
Total current assets
1,013,971
860,371
PROPERTY, PLANT AND EQUIPMENT (at cost)
Electric plant and distribution system 2,886,688 2,792,456
Vehicles and equipment 288,022 266,414
3,174,710 3,058,870
Accumulated depreciation (1,079,554) (967,591)
Total property, plant and equipment - net 2,095,156 2,091,279
OTHER ASSETS
Unamortized debt issue cost 509 694
Inter fund loans receivable, City of Fairhope:
Water and Wastewater Fund - 19,567
General Fund 129,913 10,983
Total other assets
130,422
31,244
TOTAL ASSETS
$3,239,549
$2,9821894
PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
59
LIABILITIES AND CAPITALIZATION
1983 1982
CURRENT LIABILITIES
Accounts payable, trade $ 315,640 $ 332,125
Accrued expenses and taxes:
Payroll taxes 4,099 2,383
Utility taxes 21,363 21,484
Employees' retirement contribution 3,029 1,913
Interest 2,860 3,328
Insurance withholding 200 215
Total accrued expenses and taxes 31,551 29,323
Utility customer deposits 283,707 258,543
General obligation electric warrants 39,000 36,000
Note payable, Central Bank of The South 7,578 6,860
Total current liabilities 677,476 662,851
NON CURRENT LIABILITIES
General obligation electric warrants 181,000 220,000
Note payable, Central Bank of the South 20,075 27,653
Inter fund loans payable, City of Fairhope:
Natural Gas Fund 90,949 101,464
Water and Wastewater Fund 13,486 -
Total non current liabilities 305,510 349,117
Total liabilities 982,986 1,011,968
CAPITALIZATION
Contributions in aid of construction 93,581 90,757
Retained earnings 2,162,982 1,880,169
Total capitalization 2,256,563 1,970,926
TOTAL LIABILITIES AND CAPITALIZATION
$3,239,549 $2,982,894
The notes to the financial statement are an integral part of this statement.
PARKER, FICKLING, HARTMANN 6 HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
ELECTRIC FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
OPERATING REVENUES
Sales of electric energy
$3,874,996
$3,814,000
$ 60,996
$3,636,674
Other charges, sales and receipts
41,722
35,800
5,922
43,533
Total operating revenues
3,916,718
3,849,800
66,918
3,680,207
OPERATING EXPENSES
Purchased power
Operating, maintenance and
administrative salaries
Audit fees
Bad debts
Bond issue expense
Christmas bonuses
Computer expenses
Electric energy furnished other
divisions of the City (Note 18)
Dues and memberships
Engineering services
Gasoline and oil
Insurance - casualty
Insurance - employees' group
Legal fees
Plant maintenance and operating
supplies
Maintenance vehicles and equipment
Miscellaneous
Office supplies and postage
Payroll taxes
Professional services
Employees' retirement
Telephone
Travel, training and school
Uniforms
Total operating expense
EARNINGS FROM OPERATIONS BEFORE
DEPRECIATION
Depreciation
EARNINGS FROM OPERATIONS
(carried forward)
2,706,874 2,720,000
(13,126) 2,656,830
245,550
254,306
(8,756)
226,569
2,910
2,720
190
2,720
19,583
20,500
(917)
20,540
185
200
(15)
185
600
750
(150)
650
3,196
2,640
556
3,489
66,392
50,000
16,392
51,216
26,957
20,000
6,957
19,291
9,267
17,000
(7,733)
13,997
4,974
5,000
(26)
5,461
22,941
21,000
1,941
20,814
17,182
17,760
(578)
16,179
-
200
25,640
14,000
11,640
19,310
11,471
10,000
1,471
9,089
869
200
669
255
9,970
6,700
3,270
8,769
18,101
18,000
101
16,939
-
600
(600)
150
19,874
20,430
(556)
21,498
3,896
3,600
296
3,756
3,897
3,500
397
2,010
2,878
3,400
(522)
2,250
3,223,207
3,212,306
10,901
3,122,167
693,511
6371494
56,017
558,040
111,963
109,000
2,963
109,910
$ 581,548
$ 528,494 $
53,054
$ 448,130
PARKER, FICKLING, HARTMANN B HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
60
EARNINGS FROM OPERATIONS
(brought forward)
OTHER (DEDUCTIONS) INCOME
Interest expense
Interest earned
Earnings transferred to
the General Fund of the
City of Fairhope
Gain on sale of fixed assets
Alabama Power Company refund
Total other (deductions)
income
NET INCOME
Retained earnings at beginning
of year
RETAINED EARNINGS AT END
OF YEAR
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
$ 581,548
$ 528,494
$ 53,054
$ 446,130
(15,987)
(16,500)
513
(17,607)
22,420
26,500
(4,080)
30,872
(354,000)
(354,000)
(392,000)
462
48,832
48,832
-
(298,735)
(344,000)
45,265
(378,273)
282,813
184,494
98,319
69,857
1,880,169
1,880,169
1,810,312
$2,162,982
$2,064,663
$ 98,319
$1,880,169
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
NATURAL GAS FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983 1982
CURRENT ASSETS
Cash:
Operating accounts $ 157,188 $ 15,505
Savings account 390 370
Certificates of deposit 142,308 161,947
Bond sinking fund 45,093 46,144
Total cash 344,979 223,966
Receivables:
Accrued interest 1,502 1,741
Bulk gas customer - Town of Daphne 82,297 52,423
Miscellaneous 3,715 5,329
Allowance for doubtful accounts (1,860) (1,860)
Total receivables 85,654 57,633
Materials inventories 72,041 56,142
Prepaid operating expenses 552 5,708
Total current assets 503,226 343,449
SINKING FUNDS
First mortgage revenue bonds, 1961
series, reserve and replacement
funds 166,220 162,225
PROPERTY, PLANT AND EQUIPMENT (at cost)
Natural gas plant and distribution system 1,747,212 1,674,071
Vehicles and equipment 173,645 168,415
1,920,857 1,842,486
Accumulated depreciation (990,529) (931,082)
Total property, plant and equipment - net 930,328 911,404
OTHER ASSETS
Inter fund loans receivable, City
of Fairhope
Electric Fund 90,949 101,464
Water and Wastewater Fund 46.097 46.231
Total other assets
137,046
147,695
TOTAL ASSETS
$1,736,820
$1,564,773
PARKER, FICKLING, HARTMANN i NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS -
61
LIABILITIES AND CAPITALIZATION
1983 1982
CURRENT LIABILITIES
Accounts payable, trade $ 72,034 $ 69,917
Accrued expenses and taxes:
Insurance - casualty 3,983 -
Town of Daphne 8,004 8,197
Payroll taxes 3,163 1,852
Employees' retirement contribution 2,567 1,608
Interest 5,400 6,000
Insurance withholding 306 259
Total accrued expenses and taxes 23,423 17,916
First mortgage revenue bonds, 1961 series 45,000 45,000
Total current liabilities 140,457 132,833
NON CURRENT LIABILITIES
First mortgage revenue bonds, 1961 series 360,000 405,000
Inter fund loans payable, City of Fairhope:
General Fund 63,189 77,005
Total non current liabilities 423.189 482.005
Total liabilities 563,646 614,838
CAPITALIZATION
Contributions in aid of construction 149,062 129,100
Retained earnings 1,024,112 820,835
Total capitalization 1,173,174 949,935
TOTAL LIABILITIES AND CAPITALIZATION $1,736,820 $1,564,773
The notes to the financial statements are an integral part of this statements.
- PARKER, FICKLING, HARTMANN i HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
r�
CITY OF FAIRHOPE, ALABAMA
NATURAL GAS FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
OPERATING REVENUES
Sales of natural gas
Miscellaneous sales and receipts
Total operating revenues
1983
Over (Under)
Actual Budget Budget
$2,907,094 $2,872,000 $ 35,094
3,029 1,000 2,029
2,910,123 2,873,000 37,123
1982
Actual
$2,146,575
2,032
2,148,607
OPERATING EXPENSES
Natural gas purchases 2,001,576 2,110,415 (108,839) 1,513,352
Operating, maintenance and
administrative salaries
Audit fees
Christmas bonuses
Computer expenses
Dues and memberships
Engineering services
Gasoline and oil
Insurance - casualty
Insurance - employees group
Legal fees
Plant maintenance and operating
supplies
Maintenance - vehicles and equipment
Miscellaneous
Office supplies and postage
Payroll taxes
Employees' retirement
Telephone
Utilities
Travel, training and school
Trustee fees
Uniforms
Distribution of joint revenue
Total operating expenses
EARNINGS FROM OPERATIONS
BEFORE DEPRECIATION
Depreciation
EARNINGS FROM OPERATIONS
(carried forward)
179,484
148,156
31,328
138,283
2,910
2,720
190
20720
550
450
100
550
2,204
2,640
(436)
3,636
3,237
5,000
(1,763)
1,009
10,725
13,000
(2,275)
12,262
7,457
7,000
457
9,594
11,264
18,000
(6,736)
15,465
17,124
17,760
(636)
15,219
9,870
10,000
(130)
8,534
22,884
27,500
(4,616)
28,844
7,453
10,000
(2,547)
14,319.
324
180
144
155
3,531
4,500
(969)
1,697
14,503
12,000
2,503
12,716
17,008
12,000
5,008
17,264
2,850
2,800
50
2,798
1,435
1,100
335
1,033
1,161
3,000
(1,839)
2,083
500
540
(40)
500
2,569
2,800
(231)
2,079
8,004
8,000
4
9,140
!,328,623
2,419,561
(90,938)
1,813,252
581,500 453,439 128,061 335,355
64,210 62,000 2,210 60,684
$ 517,290 $ 391,439 $ 125,851
$ 274,671
PARKER, FICKUNG, HARTMANN i MANAK, P.C. CERTIFIED PUDIC ACCOUNTANTS
62
1983 1982
Over (Under)
Actual Budget Budget Actual
EARNINGS FROM OPERATIONS
(brought forward) $ 517,290 $ 391,439 $ 125,851 $ 274,671
OTHER (DEDUCTIONS) INCOME
Interest expense
(16,500)
(16,650)
150
(18,300)
Interest earned
35,569
40,000
(4,431)
43,128
Earnings transferred to the
General Fund of the City of
Fairhope
(342,717)
(310,000)
(32,717)
(284,167)
Purchased natural gas refunds
;for prior years
9,635
9,635
16,634
Gain on sale of fixed assets
-
267
Total other (deductions)
income
(314,013)
(286,650)
(27,363)
(242,438)
NET EARNINGS
203,277
104,789
98,488
32,233
RETAINED EARNINGS AT
BEGINNING OF YEAR
820,835
820,835
788,602
RETAINED EARNINGS AT END OF
YEAR
$1,024,112
$ 925,624
$ 9B,488
$ 820,835
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING, HARTMANN & HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
WATER AND WASTEWATER FUND
BALANCE SHEET
SEPTEMBER 30, 1983 AND 1982
ASSETS
1983 1982
CURRENT ASSETS
Cash:
Operating account $ 42,158 $ 21,013
Passbook savings accounts 2,287 47,619
Construction accounts - restricted 38,440 60,587
Bond sinking fund 176,988 128,966
Certificates of deposit 41,937 -
Total cash 301,810 258,185
Receivables:
Miscellaneous
-
6,320
Accrued interest
543
-
Deposits on equipment
7,115
8,075
Allowance for doubtful accounts
(1,076)
(1,076)
Total receivables
6,582
13,319'
Materials inventories
48,365
40,303
Prepaid operating expenses
6,755
6,603
Total current assets
363,512
318,410
SINKING FUNDS
Reserve and replacement funds
113,089
101,770
PROPERTY, PLANT AND EQUIPMENT (at cost)
Water and Wastewater systems
7,485,358
7,040,537
Water line construction in progress
-
3,084
Vehicles and equipment
145,219
109,492
71630,577
7,153,113
Accumulated depreciation
(1,618,347)
(1,418,917)
Total property, plant and equipment - net
6,012,230
5,734,196
OTHER ASSETS
Unamortized debt cost
32,952
34,602
Unamortized deferred plant maintenance
5,980
12,471
Receivable - Electric Fund
13,486
-
General Fund
3,739
-
Total other assets
56,157
47,073
TOTAL ASSETS
$6,544,988
$6,201,449
PARKER, FICKLING, HARTMANN i NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS - - --
63
LIABILITIES AND CAPITALIZATION
1983 1982
CURRENT LIABILITIES
Accounts payable:
Trade $ 12,097 $ 9,192
,Miscellaneous 3,778 -
Total accounts payable 15,875 9,192
Accrued expenses and taxes:
Payroll taxes 3,543 2,350
Employees' retirement contribution 2,879 2,068
Interest 108,686 72,520
Employee insurance 149 303
Total accrued expenses and taxes 115,257 77,241
Customers' deposits 9,362 9,362
First mortgage revenue bonds payable 71,000 69,000
Total current liabilities 211,494 164,795
NON CURRENT LIABILITIES
Water Revenue Bonds 2,530,000 2,192,000
First mortgage revenue bonds payable 1,030,000 1,101,000
3,560,000 3,293,000
Inter fund loans payable, City of Fairhope:
General Fund - 8,090
Electric Fund - 19,567
Natural Gas Fund 46,097 46,231
46.097 73.888
Total non current liabilities 3,606,097 3,366,888
Total liabilities 3.817.591 3.531.683
CAPITALIZATION
Contributions in aid of construction:
,United States Government 1,097,396 1,097,396
Customers and developers 824,950 761,130
Other funds of the City of Fairhope 38,147 38,147
Retained earnings 766,904 773,093
Total capitalization 2,727,397 2,669,766
TOTAL LIABILITIES AND CAPITALIZATION $6,544,988 $6,201,449
The notes to the financial statements are an integral part of this statement.
'• � -� "' PARKER, FICKLING, HARTMANN&HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
CITY OF FAIRHOPE, ALABAMA
WATER AND WASTEWATER FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
WITH YEAR ENDED SEPTEMBER 30, 1983 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1983 AND 1982
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
OPERATING REVENUES
Sales of water $
617,996
$ 662,000
$ (44,004) $
503,133
Wastewater charges
191,255
192,000
(745)
181,842
Wastewater connection charges
102,655
7,000
95,655
8,530 '
Other charges, sales and receipts
11,388
2,000
9,388
8,953
Total operating revenues
923,294
863,000
60,294
702,458
OPERATING EXPENSES
Electric power
Operating, maintenance and
administrative salaries
Audit fees
Bad debts
Bond issue expense
Christmas bonuses
Computer expenses
Legal
Dues and memberships
Engineering services
Gasoline and oil
Insurance - casualty
Insurance - employees' group
Plant maintenance and
operating supplies
Maintenance -vehicles and equipment
Miscellaneous
Office supplies and postage
Payroll taxes
Professional services
Employees' retirement
Rental
Telephone
Travel, training and school
Uniforms
Trustee fees
Total operating expenses
EARNINGS FROM OPERATIONS BEFORE
DEPRECIATION
Depreciation
127,048
93,000
34,048
96,610
228,852
211,656
17,196
195,314
2,910
2,720
190
2,720
-
1,000
(1,000)
1,511
900
611
1,18i
750
650
100
700
2,204
2,640
(436)
3,476
164
500
(336)
55
225
200
25
218
8,883
3,900
4,983
5,572
7,980
8,400
(420)
8,504
20,884
18,300
2,584
18,312"
20,330
21,600
(1,270)
20,468�
70,092
51,500
18,592
70,727
10,980
9,700
1,280
12,918
243
60
183
85
956
8,000
(7,044)
7,424
16,989
16,600
389
15,325
2,478
1,400
1,078
967
19,877
17,100
.2,777
20,869
173
144
29
21
4,666
4,400
266
4,322
1,656
2,100
(444)
2,085
3,058
3,700
(642)
2,577
1,495
2,000
(505)
1,530
554,404
482,170
72,234
491,982
368,890
380,830
(11,940)
210,476
199,670
187,000
12,670
164,542
EARNINGS FROM OPERATIONS 1'
(carried forward) $ 169,220 $ 193,830 $ (24,610) $ 45,934
PARKER, FICKLING, HARTMANN t NANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS --
--.. _.__ _ ___........_
_..._..
64
1983
1982
Over (Under)
Actual
Budget
Budget
Actual
EARNINGS FROM OPERATIONS
(brought forward)
$ 169,220
$ 193,830
$ (24,610)
$ 45,934
OTHER (DEDUCTIONS) INCOME
Interest expense
(185,080)
(170,000)
(15,080)
(152,711)
Interest earned
29,671
4,000
25,671
53,748
Earnings transferred to the
General Fund of the City
of Fairhope
(20,000)
(20,000)
(20,000)
Reimbursement for damages -
Layne Central
-
6,900
TOTAL OTHER (DEDUCTIONS)
INCOME
(175,409)
(186,000)
10,591
(112,063)
NET INCOME (LOSS)
(6,189)
7,830
(14,019)
(66,129)
RETAINED EARNINGS AT BEGINNING
OF YEAR
773,093
773,093
-
839,222
RETAINED EARNINGS AT END
OF., YEAR
$ 766,904
$ 780,923
$ (14,019)
$ 773,093
S
The notes to the financial statements are an integral part of this statement.
-^^�+ PARKER, FICKLING, HARTMANN 6 HANAK, P.C. CERTIFIED PUBLIC ACCOUNTANTS