Audit Report - 1972-19731
TYSON and EVANS
CE0.TIFlED NBLIC ACCOUMAMS
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CITY OF ATLANTIC BEACH, FLORIDA
AUDIT REPORT
September 30, 1973
tt5(Tl ,W E"wN}. CFATi1FD NKIG AODOVMANii
CITY OF ATLANTIC BEACH, FIlJRIDA
INDEX TO REPORT
September 30, 1973
Page Number
Certificate Letter 1
General Fund 2 - B
Natez Accounts - Operations 9 - 12
Otility Revenue Bond Fund 13 - 14
Sewer Fund li - 17
Police Court Cost Fund 18
1971 General Obligation Sewer Bond
Construction Account 19 - 20
1971 General Obligation Sewer Bond
Sinking Fund 21 - 23
Auditors' Comments 24 - 25
TYSON .~d LVANS. r[1Ti1FD NNa: ACOOVNTANTS
TYSON and EVANS
cExnmED nmuc nccourrrnwrs
SDI THIRD STREET. SERE
NEPTUNE BEACH, nA0.1DA nSD
H. LYMON TYSON. C.P.A. 9glHi]N]
CHARLES R. EVANS. C.P.A. P.O. BO% Sn31~3lIU
October 23, 1973
To the City Commission
City of Atlantic Beach, Florida
Gentlemen:
We have examined the financial statements of the various
funds of the City of Atlantic Beach, Plorida, as of September 30,
1973, and the related statements of cash transactions for the nine
month period then ended. our examination was made in accordance
with generally accepted auditing standards, and included such tests
of the accounting records and other auditing procedures as we con-
sidered necessazy.
The City has adopted a fiscal year ending on September 30,
as now required by the State of Florida. This beiTlg the transition
year, neccessitates this short period report as opposed to a full
year report.
in our opinion, the attached statements present fairly the
financial positions of the various funds of the City of Atlantic Beach,
Florida, at September 30, 1973, and the related cash transactions for
the nine month period then ended, in conformity with generally accepted
accounting principles applied on a consistent basis with previous full
accounting years.
The "Auditors' Co3nRents" submitted herewith in compliance
with Section 4, Chapter 71-218, Florida Statutes is not included within
the above certification.
Respectfully submitted,
~~,~ U~~
Page 1
CITY OF ATLANTIC BEACN, FLORIDA
GENERAL FUND
FINANCIAL POSITION
September 30, 1973
RESOURCES
Cash on Hand and in Bank - Page 3 5 100,668.
Returned Checks on Nand 194.
Savings Account - Jordan Utility Escrow 679.
Taxes Receivable - Page 4 31,035.
Lot-Clearing Liens Receivable - Page 4 448.
Assessments for Demolition - 1968 1,800.
TOTAL RESOURCES S 134,824.
OBLIGATIONS AND FUND BALANCES
Obligations
Unzemitted Payroll Deductions $ 1,577.
O[ility Escrow Accoun t5 679.
Oue Police Court Cost Fund 29.
TOTAL OBLIGATIONS S 2,280.
Fund Balances
Reserve foz Uncollected Resources $ 33,477.
Available for Appropriation 99,067.
TOTAL FUND BALANCES 5 132,594.
TOTAL OBLIGATIONS and FUND BALANCES $ 134,824.
Page 2
TTSON ,M EVANS. CFRTIHEO NCLIC ACiWM.SN~3
CITY OF ATLANTIC BEACH, FLORIDA
GENERAL FUND
CASN RECEIPTS AND DISBURSEMENTS
Nine Month Period Ended
September 30, 1973
cash Balance at January 1, 1973 $ 116,138.
Add:
Revenue Receipts - Page 5 $ 471,609.
Interest on Time Certificates 3,400.
Due Police Court Cost Fund 24.
Unremitted Payroll Deductions 1,577. 476,610.
TOTAL CASH AVAILABLE $ 592, 74 E.
Deduct:
Payment for Drainage and Sewer Lines,
Selva Marina, Unit (prepaid by de-
veloper in prior year) ; 14,221.
Returned Checks on Hand 194.
Budgeted Expenditures - Page 8 477,665. $ 992,080.
Cash Balance at September 30, 1973 ~ 100,668.
Composition of Canh Balance at Sep tember 30, 1973
Southeast First National Beach Bank $ 9,683.
Payroll Bank Account 1,577.
Cash on Hand 1,009.
Time Certificate - ocean State sank 62,328.
Time Certificate - Southeast First
National Beach Bank 26,071.
TOTAL £ 100,668.
Page 3
TYSON ,M FVANF. CFATIRIEn TIYIC ACCOUMANiS
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CITY OF ATLANTIC BEACH, FLORIDA
GENERAL FUND
September 30, 1973
TAXES RECEIVABLE
REAL ESTATE
Year As5e55ed
1972
1971
1970
1969
1968
1967
1966
1965
1964
1963 6 Prior
PERSONAL PROPERTY
Year Assessed
1972
1971
1970
1969
1968
TOTAL TAXES RECEIVABLE
$ 7,494.
4,904.
3,291.
2,867.
2,845.
2,021.
1,902.
1,826.
368.
1,655.
5 861.
230.
214.
276.
281.
LOT CLEARING LIENS RECEIVABLE
Year Assessed
1973
1972
1971
1970
1969
1968
1967
1966
10TAL 1lYf CLEARING LIENS RECEIVABLE
Page 4
S 29,173.
S 1,862.
$ 31,035.
$ 100.
160.
B0.
30.
20.
20.
18.
20.
$ 448.
TYSON ,M L"ANS. CFRTILIFD NLLIC ACCOUNLANR
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CITY OF ATLANTIC BEACH, FLORIDA
GENERAL FUND
REVENUE RECEIPTS
ESTIMATED AND ACTUAL
Nine Month Period Ended
September 30, 1973
Estimated Actual
Account
100 Revenue Sharing $ 55,575. $ 60,673.
101 Ad Valorem Taxes - Levy Of 1972 28,525. 14,471.
102 Ad Valorem Taxe6 - Prior 3,000. 1,594.
103 Personal Property Tax 1,500. 1,097.
104 Fines and Forfeitures 28,000. 28,829.
105 Permits 12,000. 19,175.
106 Electrical Franchise 38,000. 40,867.
107 Garbage Collections 47,000. 47,663.
110 Penalties and Interest 1,000. 778.
111 Miscellaneous Collections 500. 479.
112 Telephone Franchise 2,656. 2,657.
113 Radio Service - Neptune Beach 3,150. 3,150.
114 Lot Clearing 100. 150.
115 S.M. Sewer Service Charge 2,400. 2,559 !`
116 Sewer Service Charge SB, 349. 54,701.
117 Royal Palms Certificate No.3 5, 56U. 5,762.Y
121 Transfer from W.O.M. 6 R. Account 36,000. 32,000.
122 Transfer from Water Revenue Account 153,621. 157,200.
125 Police Reports 300. 444.
126 Federal Revenue for Police Cadet -0- 559.
128 House Removal -O- 300.
129 State Fuel Tax Refund 1,875. 1,511.
TOTAL REVENUE RECEIPTS $ 979,111. $ 471,609.
Page 5
TYSON ,M FYANS. CEtTFIED fVFLIC AOOOUMAHSS
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CITY OF ATLANTIC BEACH, FLORIDA
GENERAL FUND
APPROPRIATIONS AND E%PENDITURES
Hine Month Period Ended
September 30, 1973
Account Ap propriations Exp enditures
ADMINISTRATION
201 Personnel $ 37,976. $ 37,976.
202-A Insurance - Building, Vehicles
N/C, etc. 16,061. 16,061.
202-B Insurance-Life and Hospitalization 6,628. 6, 62 E.
203-A Office Supplies 3, 884. 3,884.
203-B Postage 1,065. 1,065.
203-C Maintenance, Office Machines 934. 934.
209 City Rall Maintenance 852. 852.
205 Audit 2,500. 2,500.
206 O A S I and Expense 14,188. 14,188.
207 Office Utilities 2,717. 2,717.
209 Advertising 945. 945.
210 Cammissicners' Fund 269. 269.
212 City Manager's Expense 368. 368.
213 Memberships 950. 928.
215 Mayor's Expenses; Director F.L.C. 235. 120.
216 Professional Sez~ices - Codification 2,000. 1,961.
217 City Attorney 2,250. 2,250.
218 Cosmissioners' Salaries -0- -0-
220 House Removal 1,544. 1,544.
2-1002 Capital Appropriations 1.905. 1,905.
TOTAL ADMINISTRATION $ 97,271. $ 97,095.
PUBLIC SAFETY
301 Personnel $ 108,208. $ 108,208.
302 Uniforms 1,852. 1,852.
303-A Police Supplies 1,029. 1,029.
303-B Fize Supplies 411. 411.
306 Jail Meals and Supplies 332. 331.
307 Utilities 3,180. 2,980.
308 Building Maintenance 814. 814.
309 Radio Repair 606. 686.
310 Jail Renovation 4,387. 4,387.
313 Office Supplies 405. 405.
314 Municipal Judge 975. 975.
315 Alternate Judge 480. 488.
5-1003 P. 6 F.D. - Capital B,BOS. 8,805.
TOTAL PUBLIC SAFETY 3 131,572. $ 131,371.
Page 6
TYSON ,M FVANS. CExiIFIFp NliK: ACODVMANri
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CITY OF ATLANTIC BEACH, FLORIDA
GENERAL FUND
APPROPRIATIONS AND EXPENDITURES
Nine Month Period Ended
September 30, 1973
Account Appropriations Expenditures
TRANSPORTATION
401 Personnel $ 6,366. $ 6,366.
402 Gasoline 9,188. 9,188.
403 Oil and Grease 816. 816.
404 Pazts and Tires, Tolls, Mileage 12,070. 11,970.
405 Supplies 554. 559.
406 Shop Tools 502. 502.
TOTAL TAANSPORTATION $ 29,496. $ 29,396.
SANITATION
501 Personnel $ 38,168. $ 38,168.
502 Gazbage Disposal Landfill 6,891. 6,891.
503 Containers 1,980. 1,980.
504 Supplies 754. 754.
5-1005 Garbage Truck 16,904. 16,904.
TOTAL SANITATION $ 69,697. $ 64,697.
LABOR
601 Personnel S 66,463. $ 66,463.
602 Uniform Rental 2,616. 2,616.
TOTAL LABOR $ 69,079. $ 69,079.
PUBLIC WORKS
701 Tools and Supplies $ 1,669. $ 1,663.
702 Utilities 802. 802.
703 Equipment Maintenance 2,385. 2,385.
704 Beach and Street Ends 1,138. 1,138.
705 Drainage 5,816. 5,816.
707-A Street Lights 3,810. 3,810.
707-B Lights-Atlantic Blvd b Mayport Rd 5,926. 5,926.
709 Street Maintenance s Gen. Street Imp. 3,473. 3,473.
711 Street Signs 383. 383.
712 Building Maintenance 453. 497.
713 Sidewalks and Gutters 3,819. 3,819.
714 Schools, Training, etc. 564. 565.
7-1007 Trucks 7. 7.
TOTAL PUBLIC WORKS $ 30,240. $ 30,234.
Page 7
TYSON ,M FVANS. CFATFIFD FUFIFC ACWUNTAHtF
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CITY OF ATLANTIC BEACH, FIgRIDA
GENERAL FUND
APPROPRIATIONS AND EXPENDITURES
Nlne Month Peziod Ended
September 30, 1973
Account ApprOpzia lions Exp enditgres
SEWER DEPARTMENT
801 Repairs and Replacements $ 5,000. S 4,956.
802 Plant Maintenance 850. 437.
803 Utilities 12,065. 12,027.
804 Chlorine and Chemicals 3,731, 3,731.
805 Supplies 391. 391.
806 Tools 146. 146.
827 Payment Water Certificate No.3 2,225. 2,305..
828 Payment S,M. Sewer Fund 2,400. 2,559.1
830 Professional Services 50. 50.
TOTAL SEWER DEPARTMENT $ 26,858. $ 26,602.
PARKS AND RECREATION
901 Personnel $ 12,594. $ 12,544.
904 Recreation Maintenance 9,694. 4,699.
905 Park Lighting 1,038. 1,038.
906 Conmunity School Pzogram 3,629. 3,629.
9-1012 Park Imp and New Land,
Professional Services 7,993. 7,286.
TOTAL PARKS AND RECREATION $ 29,898. $ 29,191.
GRAND TOTAL - ALL DEPARTMENTS $ 479,111. $ 477,665.
Page 8
TYSON .M EYANS. CFETnFD m)EOC ACODUMANR
CITY OF ATLANTIC HEACH, FLORIDA
WATER ACCOUNTS - OPERATIONS
FINANCIAL POSITION
September 30, 1973
RESOURCES
Cash in Hank - Page In $ 45,274.
Uncollected Water Assessment - Cornell Lane 1,005.
TOTAL RESOURCES $ 46,279.
FUND BALANCES
Water Revenue Accowt~l) $ 4,046.
Water operations, Maintenance and
Repair Accowt~l~ 135.
Water System Renewal and Replacanent Fwd 42,098.
SCYTAL FUND BALANCES 4$ 6,279.
(11AVailable for transfer to General Fund.
Page 9
TYSON ,Id FVANS. CERTnEO NFLIC ACCWMAHFS
CITY OF ATLANTIC REACH, FLORIDA
WATER ACCOUNTS - OPERATIONS
CASH RECEIPTS AND DISBURSEMENTS
Nine Month Period Ended
September 30, 1973
Cash Balance at Januazy 1, 1973 $ 92,986.
Add:
Revenue Receipts - Page 11 S 239,740.
Less-Actual cash balance
(Water Revenue Account) 63,877. $ 175,863.
Interest Earned 1,119. 176,982.
TOTAL CASH AVAILABLE $ 269,968.
Deduct:
Actual Expenditures - Page 12 $ 235,694.
Less - Inter-Fund Transfer 11,000. 224,694.
Cash Balance at September 30, 1973 46 279.
Composition of Cash Balance at September 30, 1973
Atlantic National Hank
Checking Accounts:
water Revenue Account $ 4,046.
Water Operations, Maintenance
and Repair Account 135.
Water 6ystes Renewal and
Replacement Fund 11,202.
Time Certificates:
Water System Renewal and
Replacement Fund 29,891.
TOTAL 45 279.
Page 10
TYSDN ,M fVANE. CFITLIED NaLIC ACWUNEANIS
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CITY OF ATLANTIC BEACH, FLORIDA
WATER ACCOUNTS - OPERATIONS
REVENUE RECEIPTS /ESTIMATED AND ACTUAL
Nine Month Period Ertded
September 30, 1973
Account: Estimated Actual
/
1101 Minims Watez Chazges $ 36,775. $ 37,026.
/
1102 Excess Water Chargea 12,062. 11,923.
1103 Cut-In Charges 15,000. 11,683. ~
1104 5exvice Chazges 400. 417.
1105 Cigarette Tax 55,575. 55,583.
1106 Utility Tax 50,882. 58,756.
1107 Beginning Balance 38,826. 63,877.
1108 Water Assessments -0- 450.E
1109 Miscellaneous - water Lines -0- 25.
TOTALS $ 209,520. $ 239,740.
Page 11
RSON ,M EVAMS, CF1Ti1FD NIXJC AC:000MAIlIS
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CITY OF ATLANTIC BEACH, FLORIDA
WATER ACCOUNTS - OPERATIONS
APPROPRIATIONS AND E%PENDITURES
Nine Month Period Ended
September 30, 1973
Account: Appropriations Expenditures
GPERATIONS, MAINTENANCE AND REPAIRS
INDIRECT COSTS - PAZD 7T1 GENERAL FUND
1402 Administration $ 9,750. $ 8,667.
1403 Transportation 4,500. 9,000.
1404 Labor 15,750. 14,000.
1406 Capital 6,000. 5,333.
TOTAL $ 36,000. $ 32,000.
DIRECT COSTS
1411 Repairs and Replacements $ 3,204. S 3,209.
1412 Tank Maintenance 55. 75.
1413 Utilities 4,585. 4,585.
1414 Chemicals 1,085. 1,086.
1415 Building Maintenance 226. 226.
1430 Miscellaneous 259. 259.
TOTAL $ 9,414. $ 9,434.
RENEWAL AND REPLACEMENT FUND
1501 New Mains, Meters, Service $ 12,108. $ 12,108.
1503 &sergency Water Plant 303. -0-
TOTAL $ 12,411. $ 12,108.
FUND TRANSFERS AND OTNER
1221 Revenue Bond Fund-Bond Principal,
for 1974 $ 10,000. $ 10,000.
1221 Bond Interest and Paying Agent
Chazges (1974) 3,953. 3,952.
1242 To General Fund 82,500. 157,200.
1241 Transfer to Water System,
Renewal and Replacement 55,242. 11,000.
TOTAL $ 151,695. $ 182,152.
GRAND TOTAL $ 209,520. $ 235,694.
Page 12
TYSON ,M EVAMS. CFATInED NELIC ACCOUNTANES
CITY OF ATLANTIC BEACH, FLORIDA
UTILITY REVENUE BOND FUND
FINANCIAL POSITION
September 30, 1973
RESOURCES
Cash in Atlantic National Bank - Page 14 $ 39,854.
Fixed Assets - Water System
Water System Constructed since May, 1958
from proceeds of bond issue - Cost $ 238,828.
New Water Mains, Service and MeteYS added
from Revenue of System - Costal) 226,338. 465,166.
TOTAL RESOURCES $ 505,020.
OBLIGATIONS AND FUND BALANCES
Obligations:
Utility Revenue Bonds Payable $ 117,000.
Certificates of Indebtedness Payable
Selva Marina Realty Company No. 2 4,700.
TOTAL OBLIGATIONS $ 121,700.
Fund Balances:
Inves Ghent in Water System $ 343,466.
Accumulated Interest Earned on Investments 11,676.
Restricted for Debt Service 28,178.
TOTAL FUND BALANCES 383,320.
TOTAL OBLIGATIONS AND FUND BALANCES $ 505,020.
(1$12, 108. added dozing nine month period
ended September 30, 1973.
Page 13
TTSON ,M FVANS. CfxTiIED NKIC ACCWMAMTS
CITY OF ATLANTIC BEACH, FL3RIDA
UTILITY REVENUE BOND FUND
CASH RECEIPTS AND DISBURSEMENTS
Nine Month Period Ended
SepCember 30, 1973
Cash Balance at January 1, 1973 $ 38,826.
Add:
Transfer fran Water Revenue Account $ 13,952.
Interest on Savings (added to rise
cei tificate balance) 1,400. 15,352.
TOTAL CASH AVAILABLE $ 54,178.
Deduct:
aond Principal Paid $ 10,000.
Interest and Paying Agent's Fees 4,324. 14,324.
Cash Balance at September 30, 1973 3$ 9,854.
Composition of Cash Balance at September 30, 1973
Atlantic National Bank
Checking Account $ 1,813.
Time Certificate 38,041.
TOTAL $ 39,854.
Page 14
TYSON ,nd FNANS. OFAT1nED iUatN: ACCV VMANfS
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CITY OF ATLANTIC REACH, FLOAI DA
SEWER FUND
FINANCIAL POSITION
September 30, 1973
RESOURCES
Cash in Banks - Paqe 16 $ 70,269.
Uncollected Sewer Assessments 17,018.
Note Receivable - Pecan Grove Apartments 10,072.
Sewer Construction Costs (1~ 1,130,051.
TOTAL RESOURCES $ 1,227,410.
OBLIGATIONS AND FUND BALANCES
obligations
General Obligation Bonds Payable
(Issued, April 1, 19587 S 220,000.
Certificates of Indebtedness Payable
Selva Marina Realty Co. - No.l 11.094.
Interstate Contracting Co. - No.3 7,732.
TOTAL OBLIGATIONS $ 240,826.
Fund Balances - By Source
1971 Bond Issue $ 974,591.
Government Grant 67,094.
Soecial Assessments 338,684.
Revolving Fund 106,215.
TOTAL £U:JD BALANCES 986,584.
TOTAL OBLIGATIONS AND FUND dALANCES $ 1,227,410.
(l~1ncludes costs incurred 1971 General Obligation Sewer Hond Construction Account
prior to 1973.
Page 15
RSON ,M E~AwS. CERTIFIED NaLIC ACODVNfANTF
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CITY OF ATLANTIC BEACH, FLORIDA
SEWER FLRiD
CASH RECEIPTS ALID DZSBURSE"LENTS
Nine Ptonth Period Ended
September 30, 1973
Cash Balance at January 1, 1973 $ 5,075.
Add:
Budgeted Revenue Receipts $ 146,148.
Less: Beginning Cash Balance Included 141,825. 4,323.
Transferred from 1971 General Obligation
Sewer Hond Construction Pund 140,072.
Transferred from 1971 General Obligation
Sewer Bond Sinking Fund 15,728.
Certificate of Indebtedness, Selva Maritsa
Realty Company - No. 1 2,559.
Down-stream Pollution Chazges 1,435.
Amount of Principal Collected on Pecan
Gzove Apartnent Projeet 1,758.
TOTAL CASH AVAILABLE $ 170,954.
Deduct:
Appropriated Expenditures $ 97,501.
Refund - Selva Marina Unit M8 625,
Selva Marina Realty - No. 1 2,559. 1GO, 6u"5:
Cash Balance at September 30, 1973 $ 7G, 265.
c=.:os icon of Cash Balance at September 30, 1973
TY.e Ocean State Bata - Checking Account $ 5,972.
Scatheast Pisst t:auonal Beach Hank -
Sa_ya Farina Sewer Fund 5.
Certificates of Deposit ~ 64,292.
TOTAL $ 70,269.
Paoe 16
iY50N w FVANS. Wli1nFD NMJC AQAUHlwNtS
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CITY OF ATLANTIC BEACH, FLORIDA
SEWER FUND
REVENUES AND EXPENDITURES
Nine Month Period Ended
September 30, 1973
Estimated Actual
REVENUES
Beginning Cash Balance $ 141,825. $ 141,825.
Special Sewer Assessments 2,200. 3,064.
Interest and Miscellaneous Collections 400. 1,259.
TOTAL REVENUES $ 144,125. $ 146,148.
EXPENDITURES
Fund Balance
Bond PZincipal
Bond Interest and Bank Charges
Sewer Construction
Sewer Plant Construction
TOTAL EXPENDITURES
$ 66,125 $ -O-
-0- 10,000.
-0- 8,687.
10,000. 10,876.
68,000. 67,938.
$ 199,125. 97,501.
Page 17
tt5ON .M E`/AHS, CFRTInFD IUMIC ACLVUNTANTS
CITY OF ATLANTIC HEACH, FIgRIDA
POLICE COURT COST FUND
FINANCIAL POSITION
September 30, 1973
RESOURCES
Cash in Bank (Per Below)* S 3,429.
TOTAL RESOURCES $ 3,429.
FUND BALANCE
Restricted Balance S 3,429.
CASH RECEIPTS AND DISBUASEMENTS
Nine Month Period Ended
September 30, 1973
Cash Balance at January 1, 1973 $ 2,642.
Add:
Court Costs Collected 1,574.
TOTAL CASH AVAILABLE $ 4,216.
Deduct:
Remittances to State of Florida 787.
Cash Balance at September 30, 1973 $ 3,429.
SOU theast First National Bedch Bank
Page 18
TYSON .b EVANS. CFllTfIED NELIC ACCOVNEAME
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CITY OF ATLlWTIC BEACH, FLORIDA
1971 GENERAL OBLIGATION BOND
CONSTRUCTION ACCOUNT
FINANCIAL POSITION
Septembez 30, 1973
RESOURCES
Cash in Bank
TOTAL RESOURCES
OBLIGATIONS AND FUND BALANCES
TOTAL OBLIGATIONS AND FUND BALANCES
Page 19
NONE
NONE
NONE
msoN .~e ev~NS. cunnm vux~c nooovnnwrs
CITY OF ATIANTIC BEACH, FIgRIDA
1971 GENERAL OBLIGATION SEVER BDND
CONSTRUCTION ACCOUNT
CASH RECEIPTS AND DISBURSEMENTS
Nine Month Period Ended
September 30, 1973
Cash Balance at Januazy 1, 1973 S 140,072.
Add - Receipts NONE
TOTAL CABN AVAILABLE ~ 140,072
"Deduct - Expenditures
Transfer to Sewer Fund for Construction
and Retirement of Fund Liability S 190,072.
Cash Balance at September 30, 1973 NONE
~i
Page 20
TYSON „d E~ANS. CEJtTEIED NRUC ACCOUMANfS
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CITY OF ATLANTIC BEACH, FLJRIDA
1971 GENEAAL OBLIGATION SEWER BOND
SINKING FUND
FINANCIAL POSITION
September 30, 1973
RESOURCEE
Cash in Bank $ 806.
Amount to be Provided by Ad Valorem
Taxes foz Retirement of Bonds (Principal) 480,000.
Due from Sewer Fund 15,729.
TOTAL RESOURCES $ 496,534.
LIABILITIES AND FUND BALANCE
Accrued Interest due January 1, 1974 $ 7,763.
Bonds Payable (Page 23) 4g 0, 000.
TOTAL LIABILITIES $ 987,763.
Fund Balance g, 771,
TOTAL LIABILITIES and FUND BALANCE $ 496,534.
Page 21
nwx .M F"ANF. CEATIi1ED NFLIC AODDUMAMF
CITY OF ATLANTIC BEACN, FIAIiIDA
1971 GENERAL OBLIGATION SEWEH BOND
SINKING FOND
CASH RECEIPTS AND DISBURSEMENTS
Nine Monttl Period Ended
September 30, 1973
Cash Balance at January 1, 1973 $ 33,615.
Receipts
Transferzed from General Fund for
portion of 1972-1973 Ad Valorem
tax levy $ 14,471.
Interest on Investments 4,674. 19,145.
TDTAL CASH AVAILABLE $ 52,760.
Disbursements:
Bond Principal Paid $ 20,000.
Bond Interest Paid 16,226.
Due from Sever Fund 15,729. 51,955.
Cash Balance at September 30, 1973 h) $ 805.
(1~Deposited in Southeast First National Beach Bank checking account.
Page 22
TTSON ,M EVANF. CEETDIFD FUELIC ACDDUMAME
CITY OF ATLANTIC BEACH, FLORIDA
1971 GENERAL OBLIGATION SEWER BONDS
ISSUED IN 1971
September 30, 1973
SERIAL MATURITY
NUMBERS DATES SALE PRICE DISCOUNT TOTAL~1)
21- 32 July 1, 1974 S 11,778. $ 222. 5 22,000.
33- 44 July 1, 1975 11,778. 222. 12,000.
45- 56 July 1, 1976 11,778. 222. 12,000.
57- 70 July 1, 1977 13,741. 259. 14,000.
71- 85 July 1, 1978 14,722. 278. 15,000.
86-100 July 1, 1979 14,722. 278. 15,000.
101-116 July 1, 1980 15,704. 296. 16,000.
117-133 July 1, 1981 16,685. 315. 17,000.
134-151 July 1, 1982 17,667. 333. 18,000.
152-171 July 1, 1983 19,63C. 370. 20,000.
172-191 July 1, 1984 19,630. 370. 20,000.
192-211 July 1, 1985 19,630. 370. 20,000.
212-233 July 1, 1986 21,593. 407. 22,000.
i 234-258 July 1, 1987 24,538. 462. 25,000.
259-283 July 1, 1988 24,538. 462. 21,000.
j 284-308 July 1, 1989 24,538, 462. 25,000.
309-333 July 1, 1990 24,538. 462. 25,000.
334-363 July 1, 1991 29,445. 555. 30,000.
364-393 July 1, 1992 29,445. 555. 30,000.
394-423 Juiy 1, 2993 29,445. 555. 30,000.
424-963 July 1, 1994 39,260. 740. 40,000.
i 464-500 July 1, 1995 36,315. 685. 37,000.
~ TOTALS $ 471,120. S 8,880. $ 980,000.(3)
I
~l~DOes
not include future interest which will accrue
over the
remaining life of
bonds amounting to $913,205.
Page 23
FYFON ,M FVANS. CFai1F1FD FliFUC ACWVN)ANIS
AUDITORS' COMMENTS
The following comments are submitted in the specified sequence as
required by Section 4, Chapter 71-218, Florida Statutes:
A. There were no irregularities reported in the preceedinq
annual post audit.
E. In the two preceedinq audit reports it was recommended
that consideration be given to possible sale of tax cer-
tificates to eliminate the carrying of numerous years'
uncollected taxes. To date, no positive action has been
taken, which is unfortunate due to the problem that has
developed in this area. Effective with the current tax
roll the Consolidated City of Jacksonville will assume
the assessing, billing, and collecting of Ad Valorum
taxes for the City of Atlantic Heach. We understand
- that rile tax collector has no provisional facilities
for collection of other than current year's taxes and
recorded tax certificates. Reference is made to Sec-
tion 119 of the City of Atlantic Heach Charter which
states: "no amounts received for taxes shall be applied
to any current year's taxes until all previous years'
taxes have been paid." R^ference is also made to Sec-
tion 124 of the Chaztez for proceedures presently pro-
vided for the collection of delinquent taxes.
C. We refer to the reconmendations under "C" in the prev-
ious audit report and suggest your review for further
consideration.
We also recovmend [hat attention be directed toward
establishment of complete personnel records, including
specific employee salary authorization and time and
leave records. We realize that the adopted budget
generally establishes positional salaries, but not
specifically by individuals.
D.6E. To [he best of our knowledge there were no illegal or
improper expenditures made during the year, nor was
there any violation of laws which could be determined
within the ability of an independant auditor to make
such determination.
F. See "C" above.
G. We found no evidence of failure to comply with account-
ing procedures previously adopted.
Page 24
TYSON ,M FVANS. CF6TIiIFO NELIC ACWUNTANIS
1
1
AUDITORS' CONMENTS
- Continued -
N.
i
J.
K.
L.
The only instances of variations in properly recording
transactions were directly related to our Cortm~ents in
"C-2"in Che previous audit report.
'l here were no shortages discovered by the current year
audit.
"1971 General Obligation Bond Construction Account"
At the beginning of the year under review, the remaining
cash resources of this fund were transferred to the "Sewer
Fund." Such action was anticipated in the current budget
and therefore, indirectly approved. if the intent was also
to abolish the Construction Account we believe that formal
action should be taken. The fund is reflected in this re-
port as having no fund valance.
"1971 General Obligation Sewer Bond Sinking Fund"
Our interpretation of the ordinance establishing this fund
is that its resources and transactions cannot be co-mingled
with those of other Sewer Bond Funds, as provided for in
the current year budget. For our reporting purposes, we
have segregated such transactions as to their specific
legal entity.
Purchasing Procedures
We suggest that attention be given to establishment of
more strict and uniform purchasing procedures. Section
70 of the City Charter specifies the requirements. It
appears that the City Manager now has full responsibility
for purchasing, since no other appointment has been made
by him. we found instances where actual purchases and
receipt of material pre-dated the requisition and/or pur-
chase order.
Page 25
rcsow ..e [vows. cunn[o weuc av~wrwrns