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Audit Report - 1974-1975I!~ e TY30N, FA.~ICHEB AND WHITE, GPM, P.A. CEATIF~D PUHLIC ACCOUNTANTS 1 I , 1 1 1 1 CITY OP ATLANTIC BRACH ATLANTIC BEACH, PIURIDA SEPTRMBER 30, 1975 ' TYSON. EANCHER AND WHRE. CPA.. P.A. csxnvHV rLauc nccar, rrnr+rs 1 CITY OF ATLANTIC BEACH, PIDRIDA INDE% 1\1 REPORT SEPTENBgR 30, 1975 Certificate Letter General Pwd Water Acco~n is - Operations Utility Revenue Bosd Pund Sever Fund Po Lice Court Coet Pund 1971 General Obligation Sever Bond Sinking Pund Police and FSremen'e Pension Trust P~md Pederal Revenue Sharing Trust Fund Public Employment Program Aeco~mt Notes To PSnane3al Statements Auditors' Comments PeRe Number 1 2 - 8 9 - 12 13 - 15 16 - 19 20 21-23 24 25 26 27 - 2R 29 - 30 TY504. PAKCIIIZR A\U \VHffE. CPA., P.A. CERTIFlFD fi'BIJC ACCOG~TAMS TYSON. FANCHEF2 AND WHITE CPA:. P.A. CrRTIFlm PUBLIC .1CCOLTTAN75 Rovember 6, 1975 ...M..~ m~c.. To The Cl ty Commiae ion CS [y of Atlantic Beach, Plorida Pas abe Be, env lie Nw¢.n~h M:.. N. ls.kwnr~ll. &v6. Fl.. sass M.n Imv) an.usl Cenilemen: We have examined tfie fimancial etatementa of the various funds of the City of Atlantic Beach, Plorida, as of September 30, 1975, and the related statements of rash [ramsactlona for the fiscal year then ended. Our examination vas made in accordance vtth generally accepted auditing standards, and included such testa of the accounting records and other auditing procedures ae ve considered necessary. The City fine adopted a fiscal year ending an September 3G, ae nov required by [he Stale of Florida. In our opinion, the attached statements present fairly tfie flnen- cial positions of [he various funds of the City of Atlaniie Beach, Plorida, at September 30, 1975, and [he related cash traosacrions for [he fie cal year then ended, iv conformity with generally accepted ac- counting principles applied on a consistent basis vlth previous full accounting years. The "AUdiiore' Co®ente" ie no[ included vl thin the above certi- fleatlon. Respectfully submitted, Page i CITY OP ATLANTIC BEACH, FLORIDA CHNERAL POND FINANCIAL POSITION SEPTEMBER 30, 1975 RESOURCES CasM1 on Hand and in Bank - Page 3 (Note A) $331,412 Returned Checks on Hand 483 Savings Account - Jordan Utility Escrow 750 Temporary Advance To Public Employment Progzam 2,500 Tatra Receivable - Page 4 (Note B) 32,917 La[ Clearing Charges Receivable (All Prior Yeara')(NOte P) 344 Assessments for Demoli[SOn (Note P) 1,620 Aeeeaamen to for Tree Removals (Note F) 395 mrey oacnlmcv_S (Note A) $370.421 OBLIGATIONS AND YUND BAINICES Obligations Unremit [ed Payroll Deductions $ 2,332 Utility Escrw Accounts 750 Due To Police Court Cos[ Pund 292 T07AL CBLICATIONS $ 3,374 Pund Balances Reeerve for uncollected Resources $ 37,776 Available for Appropriation 329.271 TOTAL POND BALANCES $367,047 TOT i OB I ATION AND nm B i eutR+c $~ u The acrompanyfng notes to financial statements and "Auditors' fumments" are an integral part of [hie report. Page 2 TYSON. FANCHFR AND WHRF. CPA.. P.A. CERTDIFII {M1iBUC ACCOt:YrAMS CZTY OP ATLANTIC BEACN, FLORIDA CENEAAL FUND CASN RECEIPTS AND DISBURSEMENTS FISCAL YEAR ENDED SEPTElfBER 30, 1975 Cash Balance at Sep [ember 30, 1974 $ 228,417 Add: Revenue Receipts - Page 5 $900,568 Uvbudgeted Transfers From: U[111 ty Revenue Bovd Pund 13,000 Water System Repeval avd Replacement Ywd 45,300 Ivtereat on Time Cert iflcatea (Noce A) 79,945 Prior Year Federal Crant 40,200 Increase Sn Unremitted Payroll Oeductiona 4;7 Due To Police Court Ccec Fwd 292 1.019,742 TOTAL CASH AVAILABLE $1,246,159 Deduct: Budgeted Expenditures (Page 8) $908,189 Payment From Park Clearivg Pwde RecelVed 1n Prior Year 5,225 Payment of Amow[s Dw Suer Pwd 350 Advance 7o Public Employment Program Payroll Accowt 2,500 Returned Checks GB3 916,747 CASN BAIeN - AT PTE!ffi $ 197 $ 331"412 ai tion of Cash Balavice a[ September 30. 1975: S.E. Pi rat National Beach Banlc-Cheeking $ 53,853 Payroll Bank Accowt 2,332 Cash Pwde on Hand 1,022 Time Certificates - Ocean State Benk 248,256 Time Certificate - S.E. Piret Nat'l Beach Bank 25.949 $3]1 The accompanying notes Cp figuncial ata[emen[e and "Audi tore' Comente" are an integral par[ of this report. Pag e 3 TYSON. lAN('H[R ANI) \1'f IfIE. CT'Aa 1'.A. CFFTIFlF]) li'BLIC ACCq \TdYIS CITY OP ATLANTIC BP.ACN, FLORIDA CENEML FUND rates RRCg1vABLe SEPTBIIDER 30, 1975 Real Ea to to Taxee: Tex Ce rtiflca [es Ou[e Landing $ 2,544 Pr1or Year Taxes oo Nhich Certifica[ee Were No[ Issued: Beaches Aquatic Club 1,903 R.C.B.S. Corporation (Tax Aaseesmente in litigation) 14,620 Property Reverted To Cowty 408 Various Assessments Omitted By City Clerk Prom Iseuante of Certifiratee 321 Assessments Over 20 Years Paa[ Due 535 Uncollected Amowta Assessed By Cowty Por Years 1973-74 and 1974-75 9935 TOTAL RBAL ESTATE 530,266 Personal Property Taxes: Assessed Por Years 1968 Through 1974 2y651 TOTA1. T xpc v. . IV n v $32"917 The accompanying nm [ea to fSnanc Sal statements and "Auditors' Co®ente" are an Sntegral par[ of [h 1e report. Pag8e 4 TYSON. PANC'HIiR ANTI WHRE. LRAs. P.A. C7UrItF1[D PL'a1J(: AC.COII\TANIS 1 1 1 CITY OP ATLANTIC BRACN, FLORIDA GBNERAL FUND RBVBNUe RECBIPTS BSTINATED AND ACTDAL FISCAL YBAR BNDBD SEPTNNBBR 30, 1975 Account estimated Actuel Beginning Cash ealan<ea $ 219,446 $ 228,417 100 Revenue Sharing - State of Florida 117,500 102,411 101 Ad Valorem Taxes - Curren[ (Note D) 113,888 97,885 102 Ad Valorem Taxes - Prior (Note D) 12,361 9,990 103 Personal Property Tax (Kote D) 10,000 7,576 104 Fines and Porfelturea 45,000 52,568 105 Permlta 12,000 5,737 106 electrical Franchise 75,000 92,503 107 Garbage Collections 70,000 89,271 109 Licenses 15,000 19,944 110 Penalties and Interest 1,000 4,983 111 /Liaeellaneous Co1leeCions 3,500 2,619 112 Telephone Franchise 3,000 3,177 113 Radio Service - Neptw~e Beach 6,000 8,000 114 Int Clearing 100 57 115 S. N. Sever Service Charge 6,000 5,259 116 Sever - Service (barge 80,000 76,508 117 Royal Palma Certificate No. 3 10,000 11,594 121 Transfer Prom N.O.N. 4 R Account 80,000 80,000 122 Transfer Prom Nater Revenue Account 210,000 227,123 125 Police Reports 400 707 128 Noose Removal 100 127 129 State Puel Tax Refund 2.500 2.529 TOTAL RB9BNUe RBCRIPTS $1.092.795 1,128,985 Le ea - Beginning Cash 228.417 AC]DAL REVBNllR ABCBIPTS $ $` 'fie accompanying notes to financial statements and "Audi tore' Comments" are an integral part of chic report. Pagge 5 TYSON. FAN('HER A\1) \Vf lffE, CPA+. P.A. CFI[IIFIm H;BI1C ACC(X1tiTANIS t CITY OF ATLANTIC BRACH, FS.ORIDA GENERAL FUND APPROPRIATIONS AND E%P@IDITURES PISGL YEAA ENDED SEPTEMBER 30, 1975 ' Account ADPtopria[lona Expendituiea ADMINISTRATION 201 Personnel $ 59,183 $ 59,200 ' 202-A Insurance-Bldg., Veh. N/C etc. 20,000 19,478 202-e Insurance-Life 6 Hoapitallzation 11,100 10,922 203 Office Supplies S Poe[age 5,500 5,668 203-A 204 lla intenance, Office Machines City Hall Ma1nt. S Cleanin8 2,000 7,500 1,817 3 060 205 Audi[ 3,000 , 3,000 206 OASI 6 Expe~e %,500 31,228 207 Utilities 5,000 4,407 ' 209 Advertising 2,827 2,827 210 Commissioners' Pund 834 632 211 Election Eapenae 39 ;q 212 City Manager's Expense 850 1,317 ' 213 Memberships 1.000 1.236 214 Re [Srement Fund 3,600 3,610 215 Mayor's Expense 800 973 216 ProF. Services-Codification 16,000 15,626 217 City Attorney 4,140 4,140 218 Commlasio~ra' Salaries 600 600 ' 220 222 Mouse Removal City Street Lights 2.000 23 000 -0- 23 069 223 Royal Palms Cer[. No. 3 , 4,000 , 2,706 224 Se lva Marina Ccrt. No. 1 5,500 5,253 225 Pension Plan Expense 11,570 -0- ' 2-1002 Capital g.000 2~g49_ TOTS ADMNIC17LST10N $230_543 $203.777 PUeL1C SAFETY ' 301 Peraoimel $219,527 $216,937 302 Unl forms 3,462 3,462 ' 303-A 30}B Police Supplies PS re Supplies 2,329 1,200 2,329 1 102 305 Pension Por Police S FS re men 8,400 , 8,400 306 Jail Meals and Supplies 2,505 2,505 ' 307 308 Utilities Buf LdlDg Maintenance 5,000 2 371 4,953 2 276 309 Radio Repair , 1,000 , 975 310 Scats Supplement - Police 2,295 2,225 712 School Crossing Guards 1,500 1,337 ' 313 Office Supplies 900 1,062 314 Municipal Judge 1,600 1,600 315 Alternate Judge 800 800 ' }100 Capital 20y000 2J 267 TOTAI. PLB_~~-i gC APPyy $272.889 $ZjQ_230 ' The accompanying notes to financial statements and "Auditors' Comments" are an Sntegral part of this report. P e \ TYSON. FANCHI!H ,\~~) VI IfI'L'. CPA.. P.A. ' CFRTiFlLT1 Pl.'IR1C ACCIX pTAMS CITY OP ATLANTIC BEACN, FLORIDA GENERAL FUND APPROPRIATIONS AND EXPENDITURES PIS CAI. YEAR ENDED SEPTEMBER 30, 1975 Account Appropriations Expenditures TRANSPORTATION 401 Personnel $ 10,192 $ 10,442 402 Gasoline 25,215 25,215 403 011 b Crease 1,738 1,738 404 Pa rte A Tires, Tolls, Mileage 17,732 17,732 405 Supplies 1,000 1,051 406 Shop Tools 600 581 TOTAL TRANSPORTATION $ 56.477 $ 56.759 SANITATION 501 Personnel $ 71,388 $ 71,388 502 Garbage Disposal Landfill 10,850 10,776 503 Containers 11,352 11,352 504 Supplies 1,000 905 5-1000 Capital 2999 23999 TOTAL SAMTATION $178"589 $118.420 LABOR 6D1 Personnel $115,80 5114,864 602 Uniform Rental 5.000 4.889 TOTAL LABOR $12o.sso $~ 701 PUBLIC VONICS Tools and Supplies $ 2,500 $ 2,453 702 Uci li ties 1,500 1,842 703 Equipment Maintenance 9,003 9,002 704 Beach and S[ree[ Ends 2,000 2,284 705 Drainage 6,000 6,220 709 Street Haintenance 6 Gen. Street Improvements 15,700 8,626 711 Street Signs 900 819 712 Bul7ding Maintenance 1,000 782 713 SSdevalka and Gutters 800 463 714 Schools, Training, etc. 600 544 7-1000 Capital 1y501 411 TOTAL PUBLIC VORKB $ 41.504 $ /1Qy4~ The accompanying notes to financial eta cements and "Auditors' Commence" are an Sn [egral part of this report. Page 7 TYSON. PANE'IIFR .4ND WflffG. CPA:. P.A. CIIiTFIED 11'BIK ACCOV~TANrS 1 1 CCTV OP ATLANTIC BEACH, FLORIDA GENERAL FUND APPROPRIATIONS AND EXPENDITURES FISGL YEAR ENDED EEPTEIIDEA )<1, 1975 Account Appropd a[ions Ezpenditurea SBNER DEPAk17D?NT 801 Repairs and Replacements $ 9,351 $ 9,351 802 Plan[ Nain[enance 2,433 2,543 803 Utili[Sea 36,482 36,482 804 Chlorine and Chemicals 5,700 5,675 805 Supplies 1,070 1,070 806 Toole 300 151 TOTA rva S SSA S PARKS AND RECREATION 901 Peraoimel $ 25,072 $ 24,862 903 Tools and Supplies 150 157 904 Recreation Maintenance 6,700 6,641 905 Park LSgh[ing 2,000 1,817 906 CammunSty School Program 7,440 6,701 9-1000 Parks, Nev Land d Equip. 15 1000 31354 3VT i. P r AND E. peTION $ $ EIO;RCENCY EXPENSE 140,945 -0- sND TOi i. - i.. DEP R7NP.N TS $1 O9 7 $ 08.189 The accoepanying notes to financial ata cements and "Auditors' Comments" are an integral part of Chia report. Page 8 TYSON. fANCH1iR ARD ~4HfI'E. CPA.. P.A. CF~FIID I'1711JC ACCOU.\TAYfC 1 t CITY OF ATLANTIC eEACN, PLORI DA MATER ACCOUNTS - OYERATIONB FINANCIAL POSITION SEPTENBEA ]0, 1975 RESOURCES Cash in Bank - Page 30 (Note A) Uncollected Mater Assessments TOTAL RESOURCES FUND BALANCES Mater Revenue Account (1) S 4,599 Mater Operations Hain tenance and Repair Account (1 1J5 Mater System Aeneval and Aeplacemenc Fund 20~43R (ll 52,860 available for transfer to General Pund $23,433 1_739 515,173 5~ 2 The accompanying notes co financial scatementa and "Audt[ore' Gommenca" are an 1n [egral part of this report. Page 9 71S0N. P:\\CIi1CR A]~D \\'I IITE, CF'A,. P.A. crRnFirD iw~BUC .\cca~~T.A.~'r~ 1 CITY OP ATtANTIC BEACH, FLORIDA MA'[ER ACCOUNTS - OPERATIONS CASH RECEIPTS AND DISBURSEMENTS FISCAL YEAR ENDED SEPTEMBER 30, 1975 Cash Balance at September 30, 1974 S 62,377 Add: Revenue Receipts - Page 11 $368,814 Interest Earned (Note A) 6,505 375,319 TOTAI e N APAI eR:n 437,696 Deduct: Actual Expenditures-Page 12 $%8,638 Transfer To General Pund (Un^ budgeted) 45,300 Refunds 325 414,263 R RA eN .P AT EPTBMB R 197 $ 7z3,~}3 Composition of Cash Balaoce at September 30 1975 AC lantiC NaClonal Bank Checking Accounts: Hater Revenue Acco:mt $ 2,860 Water Operations, MainCenance and Repaiz Account 135 Mater System Renewal and Re- placement Pund 204 Time Certificates: Mater Sye[em Renewal and Replacement P,md 20234. TOTAtt $ the accompanying no [ea to fLnanclel statements and "Audi tore'Conments" are an integral par[ of this report. Page 10 TYSON. FAN('HliH AKU WHfIE. CPAs. Y.A. CER71FIm Yt'lN1C ACCOIMANTS CITY OP ATLANTIC BEACH, FLORIN WATER ACCOUNTS - OPERATIONS REVENUE RECEIPTS J ESTIMATED AND ACNAL PIS CAL YEAR ENDED SEPTEMBER 30, 1975 Account: Estimated Actual 1101 Ninim,m Water Charges $ 54,000 $ 57,987 1102 Excess Water Charges 18,000 17,341 1103 Cu[-1n (]urges 5,000 3,993 1104 Service Charges 300 683 3105 Cigarette Tax 210,000 206,911 1106 U[illty Tax 80,000 81,899 1107 Beginning Balance 82,916 62,377 1108 Water Assessments 1y500 -0- TOTALS $451,716 $431,191 Less Beginning Cash Balance 82,916 62,377 ACTDAL R EVENUE RECEIPTS $. B. g00 S~ The accompanying notes to financLal acatementa and "Auditors' Comments" are an integral part of this report. Page 11 TYSON, FANCHIiR A\U N'H11'E. CPA.. P.A. CERTIFILD li'BLN; A[COL:YfANfS 1 1 1 CITY OF ATLANTIC BEACH, FLORIDA WATER ACCOUNTS - OPEMTIONS APPROPRIATIONS AND E%PENDITUAES FISCAL YEAR ENDED SEPTElID ER 30, 1975 Account Appropriations Expenditures ' OPERATIONS. MAINTENANCE AND REPAIRS INDIRECT COSTS - PAIO TO GENERAL FUND 1402 Administration $ 21,600 $ 21,600 1403 Transportation 10,400 10,400 1404 Labor 34,400 34,400 1406 Capital 13,6b0 13,600 1652 Capital Improvements - Mater - Plant 151584 _ ~. 921 TOTAL $ 95$584 $ 91$921 HIRECT COSTS 1411 Repairs and Replacements S 8,000 $ 7,966 1412 Tank Maintenance 5,134 90 1413 Ut111tiss 11,514 11,514 1414 Chem3cala 5,352 5,352 1415 Building Maintenance 500 413 1430 Miscellaneous 500 786 TOTAL $ 310_00 f 2611$1 RFNENAL A D P l~NT nln 1501 Nev Pains, Meters, Serviee $ 20,000 ~9 ,055 1502 Na[er Reservoir 1,000 -O•--_J 1503 Emergency Mater Plant ~p00 186 70TAL $ 22000 $ 9 241 i__ PIMD TR<N[PP C ND Ol-d A 1221 Revenue Bond Fwd-Bond Prin- c1pa1, for 1976 $ 11,000 $ 11,000 1221 Hond Interest and Paying Agent Charges (1976) 3,232 3,232 1242 7o Cene ral Pwd 210,000 227,1$3 1241 Transfer to Mater System, Renewal and Replacement 16,568 -0- TOTAL $240,800 $241.355 G aND TOT r. $3$2=39[2 f359.p'~8 The accompa`ryfng notes to finandal statements and "AUd3tore' Comments" are an in [egral part of this report. Page 12 TYtiON, PAN('i 11'M AND WFlfffi. CF'A.. P.A. CFRTiPIm PI:BLIC ACCOUMAITS CTTY OF ATLANTIC BEACH, FLORIDA UTILITY REVENUE BOND FUND FINANCIAL POSITION SEPTEMBER 30. 1975 RESOURCES Cash !n Atlantic National BaNc - Page 14 (1) (Note A) S 31,145 Fixed Aare [s - Nater System Na ter Sys cem Cone[ructed Since Nay, 1958 frw Proceeds of Bond Ieaue -Coat $238,827 Nev Nater Maine, Service and Meters Added Since Bond Ieaue - Coet 280,008 518.835 $55.2,.48 OBLIGATIONS AND FUND BALANCES 0611Rations Utility Revenue Bonds Payable -Page LS $ 97 00p Yund Balavicea: Unrestricted Pund Balance $425,910 Reatri cted Por Deb[ Service 27,070 452,980 AL OBLIGATIONS AND B ~ANCv S5 j (1) The excess of cash on deposit over the restricted fund balance is available for transfer to the General Yusd of the City. The accompanying notes to financla7 eta cements and "Auditors' Comments" are an integral part of [his repot[. Page 13 TYSON, PANCIIIiR MI) WHfi[. CYA.. P.A. CERTFIFD IL'BLN; ACC(AMANis 1 1 1 r t i~ CITY OP ATLANTIC BEACH, YLORIM UTILITY REVENUE BOND FUND CASH RECEIPTS AND DISBUILSEtfEN7S FISCAL YEAR ENDED SEPTEMBER 30, 1975 Cash Balance at September 30, 1974 S 41,433 Add: Transfer From Hater Revenue Accow[ $ 14,232 Interea[ on Savinga (Added To Time Certificate Balance) (Noce A) 2100 16~ 332 1OTAL CASH AVAILABLE 57,765 Deduct: Bond Principal Paid $ 10,000 Interea[ and Paying Agent's Peea 3,620 Transfer To General Pwd 1~OOU 26620 $ 71.15E Compass tion of Cash Balance ac September 30, 1975 Atlantic Natio~ul Bank Checking Account S 1,065 Time Certificate ~ypp TOTAL $ 71.L The accompanying notes to financial etatemenca and "Auditors' Comments" are an integral part of [h Se report. Page 14 TYSON. FAN('HI[R ANU Wlifif:. Q'A,. P.A. CERTFIFD N.'BLR: ACCOU~TAMS 1 1 1 t CITY OP AYIANTIC BEACH, FLORIDA UTILITY RHVENUE BOND POND UTILITY REVENUE BONDS PAYAHLH F2 SCAL YNAR HNDED SEPTEMBER 30, 1975 Ha tur ity Da [ea Ampunt March 1, 1976 $11,000 March 1, 1977 11,000 Harsh 1, 1978 12,000 !larch 1, 1979 12,000 March 1, 1980 12,000 Harsh 1, 1981 13,000 March 1, 1982 13.000 Harsh 1, 1983 1J 000 112IAL $2~4.. (1) Does not include future interest amounting [o $14,228 which will accrue over the remaining life of the bonds. The accompanying notes [o financial etatemen[s and "Auditors' Co®ents° are an Integral part of this report. Page 15 TYSON. F~WCHFR AND \\'f lffE. CPA:. P.A. CERTIFIFO Pf: BLIC ACCOU~TAHfS CITY OF ATL4NTIC BEACH, PLORI DA SEVER FUND PINANCIAL POBITION SBPTBNBER 30. 1975 Resougces Gsh in Banks - Page 17 $ 16,065 Hme Certificates of Deposit - Page 17 (Note A) 79,424 Uncollected Sever Aeaeeamenta 16,515 Note Receivable - Pecan Grove Apar [men [a 6,255 Sever Construction Cos [s (I) 1,130,051 TOTAL RESOURCES $j~Q OBLTCATIONS AND FUND BALANCE Ob11Ra [lone General Obligation Bonds Payable (Issued, April 1, 1958) - Page 19 $200,000 Certificates of Indebted 4g~s Payable= Bull Interests - No. 1 2,673 Bull Interes is - No. 2 C2) 4,700 Bull Interests - No. 5 (2) 12,521 Bull Tn[ereats - No. 6 (2) 19040 TOTAL OBLIGATIONS $ 238,934 Pond Balances - By Source 1971 Bond Issue $474,591 Special Assessments 347,791 Government Grant 67,094 Revolving Pund 119,900 TOTAL PUND BALANCES $1.009,376 TOTAL OBLIGATIONS ANO POND BALANCES $ (1) Includes coats incurred from 1971 General Obligation Sever Bond Construction Ac coon[ prior [0 1973. (2) Pormerly owed m Selya Narina Realty Company. Payable from future sever revenues. The accompanying notes [o financial sta Cements and "Auditors' Comments" are an integral part of this report. Page 16 TYtiON. F.\\CtII:R A\U \\'HRIi. CFAs. f'A. CFlfI1FiED it'BLIC ACCIXINIANrS 1 1 1 1 CITY OF ATLINTIC BEAGH. PIAAIDA SEVER FUND GSN RECEIPTS AND DISBURSE!ffiNTS PISCAL YEAR ENDED $EPT@fBER 3D, 1975 Cash Balance a[ September 30, 1974 $ 79,082 Add: Budgeted Revenue Receipts (Page 18) $123,278 Lees: Beginning Cash Balance Included 79,082 44,196 Certificate of LndebSedcesa, (Bull Ipterests) - No. 1 1 5,253 Certificate of Indebtedaeea, (John Blw) No. 3 2,706 Transfer Yrom General Pund 350 117TAL CASH AVAIIABIJ: $131,587 Deduct: Appropriated Expendlturea (Page 18) $ 25,910 Transferred [0 1971 D.Q. Serer Hond Sinking Pund 2,229 John elov - Cer[1f State Np~ 3 l 2,706 7 Bull Interests - No. 1 ( Sy253 J098 CASN BALANCB AT SEPTEMBSA 30. 1975 $ Q~_Q Composition of Cash Balance at September 30, 1975 The Oeean State Bank - Checking Account $ 16,060 Southeast Pirat National Beach Bank - Selra Narlna Sever Pund 5 T1 me Certificates of Deposit 79424 112TBL $ 93~ (1) Porme rly awed to Selva Narlna Realty Company 'D~e accompanying notes to financial eta Cements and "Audi [ore' Coomente' are an integral par[ of [hie report. Pa a 17 TYSON. FANC'IIER A\~ Wf11TE. CPA.. P.A. C11RiFlFD 1'LBLIC ACC(%/\TANR CITY OP ATLANTIC BEA(71, FLORIDA SEVER FUND REV¢NUBS AND E%PENDITURES PISGL YPAR ENDED SEPTElBER 30, 1975 Estimated Actual REVENUES Beginning Cash Balance $ 85,865 $ 79,082 Pecan Crove Note Ree. 3,020 1,348 Ad Valorem Taxes (Note D) 17,880 17,880 Special Sever Asaesamente 5,000 1,653 Interest on T1ne Certificates (Note A) 4,560 4,074 Nieeellaneoua Collections -0- 1,540 50; Service Charge 4,354 5,404 Sevez Connee[ion Charges 1y500 12r 297 TOTAL REVENUES $122"179 $~Zyjj EXPENDITBRES Fund Balance S 79,299 $ -0- Bond Principal 10,000 10,000 Bond Interest and Bank Cflarges 7,880 7,907 Sever Construction 2000 J003 TDTAL ¢ RENDI IRCS $ $ The accompalrying no tea to financial statements and "Auditors' Comments" are an integral part of [hie report. Page 18 T150ti. FAKCIIflR A\D WHffE. CPA,. P.A. CFR77FlID Ii'BLlC ACCOV:vTA.\T~ t I 1 1 CITY OF ATLANTIC BEACH, PLORIOA SBNER FUND S ENER BONDS PAYABLE PISCAL YEAR ENDBD SEPTEMBER 30, 1975 Ma[ur1Cy Dares Amoun[ April 1, 1976 $ 70,000 April 1, 1977 10,000 April 1, 1978 10,000 April 1, 1979 10,000 April 1, 1980 15,000 April 1, 1981 15.000 April 1, 1982 15,000 April 1, 198J 15,000 AprLl 1, 1984 20,ODO Apr11 1, 1985 20,000 Apr11 1, 1986 20,000 April 1, 1987 20,000 Apr11 1, 1988 21000 TOTAL 5799 ~Q (1) (1) Does not include future interest amow[ing to $56,948, which will accrue over the remafning life of tfie hoods. The accompanying notes [o financial statements aad "Auditors' Comments" are an Sn tegral par[ of this report. Page 19 TY5O4. FA\('HF:R A\U W11(fE. CPA.. I'.A. CERTIrI1D 11.'BLN: ACCOV~TANfS CITY OP ATLANTIC REACH, FLORIDA POLICR COURT COST FUND FINANCIAL POSITION SEPTEIffiER 30. 1975 RESOURCES Cash in Bank (Per Belov)* $ 4,124 Due Prom General Pund 2g2 TOTAL RESOURCES $ 4"q ff FUND BALANCE RR$TRI •(JiPD 2ALAN(,_:_[:_ S CASH RRCEIPTS AND DISBURSEIR:NLS FISCAL 1PAR ENDE- SEPTEMBER 30, 1975 Cash Balance at September 30 1974 $ 4,466 Add: Court Cos [s Collected (Note E) ~%4 TOTAL CASH AVAILABLE $ 6,830 Deduc [: Schools and Training $1,232 Remittances to State of Florida ~3E2 X414 H BALANCE AT SEPTEID3 .R '~ 1975 $ * Southeast PSra[ National Beach Hank The accompanying notes [o financial statements and "Auditors' Comments" are an integral part of this report. Page 20 TYSON. PAN('HISR AND \VHII"E. CPA,. P.A. CFq'IIFIFD f1'BUC ACCOl11TAN15 L 1 CITY OF ATLANTIC BEACH. PiARIDA 1971 GENEML OBLIGATION SEVER BOND SINKING FUND FINANCIAL POSITION SEPTEMBER 30. 1975 RESOURCES Cash in Bank - Page 22 $ 1,817 Time Certificates of Deposit (Note A) 17,246 Amount To Be Provided Hy Ad Valorem Taxes Por Retirement of Horde (Principal) 456,000 TopaL RESOURCes $476.063 LLABILITI E$ AND PUND BAIANCB Accrued Interest Due Sanuary 1, 1975 $ 7,343 Bonds Payable -Page 23 456,000 TOTAL LIAHILITI ES $463,343 Pund Balance 12 720 TOPAL LIABILITIES AND PUND BALANCE $476.063 The accompairying no tea [o financial eta cements and "Auditors' Comments" are an Sncegral par[ of this report. Pagge 21 TYSON. PANCHGR .ANI) \VHIT[i. CPA,, P.A. cTxnfNn iti~~K nccou^vrAr~n$ ~~ CITY OF ATLANTIC BEACH, FI/JRI DA 1971 GENEML OBLIGATION SENeR BOND SINKING FEND CASH RECEIPTS AND DISBURS ElQ:NTS FISCAL YEAR ENDED SPPTEHBER 30, 1975 Cash Balance at Sevtember 30. 1974 Re ce1D[a: Transferred Prom General Pwd Por Portion of 1974-1975 Ad Valorem Taz Ievy (Note D) Transfer Prom Sever Pwd Interes[ on Investments (Note A) 70TAL GSH AVAI LABLB Estlma[ed Actual $16,865 542,212 $42,212 2,229 970 $42,212 45,411 Disbursements: Bond Principal Paid $12 ,OOD $12,000 Bond Interest Paid X12 x,213 TOTAL GSH DISBURSBD $42,212 4T,?1? CaSN BAIAN AT < PTENB R 197 $Z,Q ~osl Lion of Cash Balance at Sevtember 30, 1975 S.B. P1 rat National Bank Checking Account $ 2,817 Ocean Stale Bank, 90 Day 6 1J2L Tina Certlflcate 17246 TOTAL $7 Q81 The attomp any Sng rtotea to financial eta cements end "Auditors' Comments" are an integral par[ of this report. Pag8e 22 TYSON. FANCIIFR ANI) \V(IfFF. CPA.. P.A. CERTIFIID IL'BLIC ACCOl1tiTAYI6 1 clTy aP ATLANTIC Beach, FLORIDA 1971 GENERAL OBLIGATION SENBR BONDS ISSUED IN 1971 OUTSTANDING AS OP SEPTElBER 30, 1975 SERIAL NATURTTY NIBIBeRS DATBB SALB PBICE DISCOUNT TOTAL 45-56 July 1, 1976 S 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 14,722 276 15,000 101-216 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, 1483 19,630 370 20,000 172-191 July 1, 19R4 19,630 370 20,000 192-211 July 1, 1985 19,630 370 20,000 212-233 July 1, 19% 21,593 407 22,000 234-258 July 1, 1987 24,538 462 25,000 259-283 July 1, 1988 24,538 462 25,000 284-308 July i, 1989 24,538 462 25,000 309-373 July 1, 1990 24,538 462 25,000 334-367 July 1, 1991 29,445 555 30,000 364-393 July 1, 1992 29,445 555 30,000 394-423 July 1, 1993 29,445 555 30,000 424-463 July I, 1994 39,260 740 40,000 464-500 July 1, 1995 36 X315 685 3000 Il?IA(eS Si4 SR.53fe 853¢ (1) (1) Goes not Snclude future interest vhith vill accrue over the remaining life of bondv amounting to 5344,439, the accompanying notes [o finantfal atatemeote and "Auditors' Comments" are an integral part of [has report. nsou. rlu rntN a~54 ~~~)rrre. cr.+.. rr. CFJITIFIID F'L'&JC ACCIX"~7AM5 CITY OP ATIANTIC BEACR, FiARIDA POLICE AND PI RElD:NN'S PENSION TRU57 FUND FINANCIAL POSITION SEPTEtTBER 30, 1975 RESOUIICES Ocean State Bank - Checking Accounc S 1,757 Ocean State Bank - Savings Account 12,596 Ocean S[a[e Bank - Time Certificates 121210 TOTAL 526.163 PUIO) BAIAHCE Rwa[r it [ed ea lame $~ RECEIPTS AND DISBURSEISENTS PISCAL YEAR ENDED SEPTE"18ER 30, 1975 Cash Received: Employee Contributions S 9.841 City Contrib utlons 8,400 From State of Florida: Firemen $ 2,855 Policemen 5065 7,920 Interest on Savings and Tfine Certificates (Note A) 574 'NTAL RECEI VEO 526,735 Cash Disbssrsed: Refunds of Employee Con tributiona 572 ST~153 The accompanying notes [o financial sta temente and "Auditors' Comments" are an integral par[ of thfe report. Page 24 Tl'tiON. FA\('HER :\\U \\'IIRE. CT'.4.. P.A. CRItTIFIFTJ H:&K .10001']T.A]TS CLTY OP ATLANTIC BEACH, PIpRIDA FEDERAL REVENUE SHARING TRUST FUND PINAN CI AL POSITION SEPTF+®vR ~L- 191s RESOURCES (ash in Bank - Checking Ac co~mt $ 19,470 Time Certifies [es of Deposit (Note A) 211.927 TOTAL RESOURCES $2}79. PUND BALANCE F act ir~_[ad H~~anGg 53~3~Z RECEIPTS AND DIEBDRSEL1EtFfS Cash Re ce to ta~ Recetved Prom Office of Pederal Revenue Sharfog: November 21, 1974, Entitlements I Through IV and 1/4th of V $175,679 3anuary 7, 1975, 1/4th of No. V 15,023 April 7, 1975 I/4th of No. V 15,023 3uly 18, 1975 1/4th of No. V 15.023 TOTAL $220,748 interest on Temporary Cash Inveatmenta CNote A) 10,h4q TOTAL GSN RECEIVED $231,397 Caeh Dlabureed -0- Cash i~ Haa4 and Time C-r[if1 c~[es of I)eooeiC as of September 30. 1975 $ The accompanying notes to firanclal s[a[eaenCa and "Audi COra' Commence" are an Integral part of Chia report. Page 25 TYSON. FANCI11iN ANU \VfIfI'G. CPA,. 1'.A. CF]iTiFlm f'L~HIJC ACCOU\TAMS 1 t 1 i CITY OP ATLANTIC BEACH, FLORIDA PUBLIC EMPIAYHENT PROCRAN ACCOllNT FINANCIAL POSITION SEP1FlIDER 3D, 1975 RESOURCES Cash in Ocean Stale Bank $ 2,361 Due Prom City of Jacksonville Beach * 191 TIm I~ PSO m c $ LIABILITIES Unremit led Hoepita liza tion Insurance Deductions 52 Due - Ci[y of Atlantic Beach General Pund Por Temporary Advance $ 2~SW CASH RBCBIPTB AND DZSBUASEMENIS FISCAL YEAA ENDED SEPTEHBEA b, 1975 Cash Rereip[s: Temporary Advance Prom General Fund of City of Atlantic Beach to Pund Payroll Account $ 2,500 Reimbursements Prom City of Jacksonville Beach 1_082 TOTAL RECEIPTS $14,582 Cash Dtsbureementa: Payrolls Paid $11,803 Payroll Taxes 470 Unremit ted Hoap. Insurance 52 12y221 GSH IN BANK AT SEPTEMBER 30. 1975 $ * Administrator of Program The accompanying no tea to financial etateaen[a and "Auditors' Commence" are an integral par[ of this report. Page 26 T\'SO?I, PAKCHIiR A1U N'tIITE. CPA,. P..A. cERnrNn ~+.~BUC Acccxc~'rnn75 CITY OP ATLANTIC BEACH, FLORIDA NOTES TO FINANCIAL STATESI¢NTS SEPTEMBBR 30. 1975 ' (A) HONEY MA.YAGESO:NT A profitable performance vas accomplished during the faecal year on temporary investment of cash funds of the City. The manage- ment of money produced the following Lnterest earnings: General Pund $19.945 ' Hater Accounts (Operations) 6,505 U til1[y Revenue Bond Fund 2,100 Sewer Pund 4,074 ' 1971 G.O. Sever Bond Sinking Pund 970 Police S Pireme n's Pension Trust Pund 574 Federal Revenue Sharing Trust ' Fund 10,649 TOTAL S4l,.817 ' (B) TAXES RECEIVABLE Under prior year legislative au[horizatlon, tax certificates were issued In the amount of $2,544. Certificates were not issued for de llnquen[ taxes on certain properties described on page 4 of Chia re- po[[ totaling, $17,787. (C) RESOURCES ' As a result of the Nay 29, 1974, ruling of [he Supreme Court of [he Sta [e of Plorida, the City of Atlantic Beaeh Se nav receiving both Federal and State revenue sharing funds directly from [hose gov- enwontal entities. 'fie Office of Ye deral Revenue Sharing remitted all t prior period entitlement funds in November of 1975, amolmting to $175,679 and has subsequently been remitting quarterly the euttent en- titl¢ments. I[ vas de [ermined available that $432,251 of State Revenue t Sharing and certa In other dlatributlons had roe been received by the CS[y of Atlantic Beach from the City of Jackaonvllle for periods prior [o the above court ruling. A request has been made for payment, but to date, has no[ been received. ' Page 27 T'iti0\. P:1\CNFH :\SU i\'1IITF. CP:\.. 1'.A. ' CERTIFIID 11: BIJC A(COL\7.1]75 1 1 1 1 (D) AD VAIAREM TA%ES The ad valorem taxes collected during the fietal year were from: Real Ee[ate $167.967 Personal ProPertY 7y576 TOTAL S1ZS.S_41 They were allocated to: General Pund $115,451 Sever Pund 17,880 7971 6.D. Sewer Bond Sinking Pund 42,212 TOTAL $ (E) COURT COSTS The City Attorney informed ue that court mete were eollec- ted Sn accordance with Chapter 943 Florida Statutes. (P) LOT CLEARING, DEMOLITION AND 7REg REMOVAL ASSPSSMENTS Ne found no record during the f£swl year under review of follow-up billings or other collection efforts on these its®. Organ- Sud effort should be made to collect these items. It 18 suggested that official Commission action be taken [o remove those aeaeeemen[s on vhith no collection efforts can be made. I[ vas noted that qo col- leetlona were made on delinquent personal property [azea assessed prior [o [he fie cal year 1973-74. Re suggest concentrated effort be mde For collection, or officially cancel such asaeaementa so they may be remved from the records. Page 28 TYSON. FAN("111'R ANU N'HfiE. CI'A+. P.A. CER7IFIFU 12'BIK ACCOV~'fANrS CITY OP ATLANTIC BEACH, PLORIDp GENERAL COYERNMENf FUNDS AUDIT REPORT SEPTEMBER 30. 1975 AUDITORS COMtENTS ' The fol loving comments are submitted in Che specified sequence as required by Sec [ion 4, Chapter 71-218, Florida Statutes: 1 1 A. There were no irregularities reported in the preceeding annual pose audit B. ReeFdlal action hoe been taken rove ring all recommenda- tions made In the preceeding annual past audits. Offi- cial actiov by the Commission vas taken to ea [ablleh a property fund on November 4, 1975, Ree. 75-19. C. The following recommendations are submitted for your con aidera[Son: 1. Occuoational Licensee Ne recommend that a more efficient system of billing and collet [ion of Occupational licenses be ins called. This can be accomplished through use of multi-par[ license forms and the addressograph equipment you now have. 2. Unpaid Court Fines Fines mt paid in court should be paid at Che City Nall. Ge realize it is necessary to accept par[fal payments on fines but records and payment collection should not be a function of the police department. ' 3. Personnel Records The eriat Sng personnel records are incomplete and inadequa [e in their present condition. Due to the current work-load of [he City Treasurer, Con- sideration should be given [o assigning this duty to another person. ' D. b E. To the best of our knowledge there were no illegal or im- proper expenditures made during the year, nor was there any violation of laws which could be de terml¢ed vithi¢ the abil- ' ity of an Independent auditor to make such de [ermi¢ation. I IL ' Page 29 Tl'tiON. FAX("I II:M :\X17 \\'f lffE. (RA+. P.A. e CFMIFiIll fA:BUC ACCL4 StA]TS P. See C. above. C. Ne found no evidence of failure [o comply vi[h aceount- ing procedures previously adopted. g. The only instances of variations 3n properly recording transactions were directly related to our Comments 1n C. above. I. There were no shortages discovered 6y the current year audit. Page 30 TYSON. FANCHFH AND WHRC:. CPA+. P.A. ctxnnm ivauc Accu<nTAn rs 1 TS"SON, FANCHEE A.~ID WHITE, CPAs, PA. CFATIRE~ ft111LIC ACCOPVTAMS CITY OP ATLAh"1'IC BEACH, FLORIDA ' ACCOUNTANTS' REPORTS, FINANCIAL STATEMENPS AND SUPPLEI~NTARY DATA REVENUE SHARING FUNDS ACCOUNT N0. 10-20016001 ' INITIAL FISCAL YEAR ENDED SEPTEMBER 30, 1975 1 1 1 1 ' TYSON, FANCHER AND WHl1'E. CPA., P.A. CERTIFlED PUBLR: nccourrrArrrs CITY OP ATLANTIC BP.ACR, FLORIDA CONTENTS OF REPORT INITIAL FISCAL YEAR ENDED SEPTEMBER 30, 1975 PaKe FINANCIAL AUDIT: Accountants' Report on Financial Audit 1 Statement of Revenue, Appropriations, Encumbrances, Expendituzea and Balance 2 Statement of Obligations Incurred (See Note C) Summary of Data Submitted to the Bureau of the Census Piscal Year Ended September 30, 1974 3 Notes to Pinancial Statements 4 CO:fPLIANCE: Accountants' Report on Compliance 5 TYSON. FM`CHER AND WHITE. CPA., PA. CERP.FlED PUBIJC ACCOUNTAM'S TYSON. FANCHBR AND WHITE CPAs. P.A. CFRTIFlm PUBLrC ACCOUNI'M'IS rou oB~r Bo. s~ssi w ,rxmx mawv, cr.,~ 1I9 N~Kir,~iL A.a. N. a. rLV rlnn~u. m. cw J..Lwnwl4 [ir„F. Fl.. )2250 rLwuo L v,urr. Lr.a. P{wa (9fN) 2166111 Mayor and City Commission City of Atlantic Beach, Florida We have examined the Revenue Sharing Fund Statement of Revenue, Appropriations, Encumbrances, Expenditures and Balance and Statement of Obligations Incurred of the City of Atlantic Beach, Florida, for the year ended September 30, 1975 and have compared the financial data for the year ended September 30, 1974 included on Bureau of Census Form RS-8 with audited records of the City of Atlantic Beach, Plorida. Our examination vas made in accordance with generally accepted auditing standards and the "Audit Standards and Guide for [he Audit of Revenue Sharing Recipients" issued by the Office of Revenue Sharing, U. S. Department of the Treasury, and accordingly, included such teats of the accounting records and such other auditing procedures as ve considered necessary in the circ~mstancea. - In our opinion, the Statement of Revenue, Appropriations, Encumbrances, Expenditures and Balance, and the Statement of Obligations Incurred present fairly the Yevenue, expenditures, obligations incurred and status of revenue sharing funds of the City of Atlantic Beach, Florida, for the year ended September 30, 1975, in conformity with generally accepted accounting principles. Purther, except for adj netments as shown on page 3, and the possible effect of these differences on the emit lements received, financial data included on Bureau of Census Form RS-8 for Che year ended September 30, 1974 ie in agreement with audited records of the City of Atlantic Beach, Florida. Respectfully submitted, ~(~sau, ~iak.cRw,~ ~.a., (n~~ June 24, 1976 Jac'rsonville Beach, Ylorida PACE 1 ' 2 ' CITY OF ATLANTIC BEALR, FLORIDA REVENUE SHARING FUNDS STATE:fENT OF REVENUE APPROPRIATIONS, ENCUMBRANCES, EXPENDITURES AND BALANCE ' INITIAL FISCAL YEAR ENDED SEPTEMBER 30 1975 Per Booke Adi us tmen[a Ad usted ' AEVELUES: Entitlement paymen[e (Note B) $220,748 $ -0- $220,748 Interest 10 649 -0- 10,649 TOTAL 231,397 -0- 231,397 Less: Unappropriated balance end of year 10,649 -0- 10,649 TDTAL - AVAILABLE YOR OBLIGTAIONS DURING YEAR 22D,748 -0- 220,748 OBLIGATIONS INCURAED (Note C) 1 Expenditures -0- -0' -0- Encumbxances -0- -0- -0- TOTAL - OBLIGATIONS INCURRED -0- -0' -0- Unencumbered Balance - September 30, 1975 220,748 -0- 220,746 Unappropriated Balance - September 30, 1975 10,649 -0- 10,649 AVAILABLE PUWS - SEPTEMBER 30, 1975 $231,397 $ -0- $231,397 t The accompanying notes to financial atatemente are an integral part of this xepott. PACE 2 ' ~ '{'YSON. FATTCHER AND WHITE. CPA., P.A. CERTIFIED PUBIJC ACCOUMANIS 3 CITY OP ATLANTIC BEACH, FLORIDA SUPDIARY OP DATA SUBMITTED TO BUREAU OF THE CENSUS~1) FOR THE PISCAL YEAR ENDED SEPTEMBER 30, 1974 PART I - TAX REVENUES 1. Property Taxes 2. Local Sales Taxes: a. Public utilities tax 3. Licenses, Permits and Other Taxes TOTAL - TAX REVENUES PART II - INTERGOVERNMENTAL REVENUE 1. From State a. Other general support b. Streets and highways c. All other 2. From other Local Governments a. Radio service 3. From Pederal Government a. Federal grant - E.P.A. TOTAL - INTERGOVERNMENTAL REVENUE Reported Audit [o Census Adi ustmen[s Ad usted $154,764 S -O- $154, 7b4 170,422 -0- 170,422 16,324 -0- 16,324 $341,510 S -0- $341,510 $222,043 $31,419 <2) $133,462 5,509 -0- ~ 5,509 4,200 -0- 4,200 107,400 -0- 107 400 $347,736 $ -0- $347,736 ~1) See Note D. ~2) Adjustment made for reclae sificatlon of Motor Puel and Road Tax reported as "other general support". The accompanying no tea to financial statements are an integral part of Chis report. PACE 3 TYSON. FANCHER AND WHITE. CPA., P.A. m+IUIED Puellc AccouNrnxrs 4 CITY OF ATLAI,TIC BEACN, FLORIII4 REVENUE SHARING FUNDS NOTES 1b PINANCLAL STATEMENTS SEPTE:IBER 30, 1975 (A) ACCOUNTING POLICIES - The cash method of accounting is used in recording and reporting receipts and disbursements by the Ci[y of Atlantic Beach, Florida. (B) ENTITLEt~II'NTS During the fiscal year end September 30, 1975, the City of Atlantic Beach, Florida received the following from the Office of Pederal Revenue Sharing: Date Received Amount Entitlements I Chru IV and j6[h of V November, 1974 $175,679 stth of Entitlement No. V January, 1975 15,023 'tth of Entitlement No. V April, 1975 15.023 'nth of Entitlement No. v July, 1975 15,023 TOTAL RECEIPTS RECEIVED FROM O.R.S. $220,748 (C) STATEMBNT OP OBLIGATIONS INCUtiRED The S[a Cement of Obligations Incurred was deleted from this report because all receipts were invested and no obligations were incurred for the fiscal year ended September 30, 1975. (D) SU:2`fARY OP DATA SUBMITTED TO BUREAU OP THE CENSUS The Bureau of the Census stated that Form RS-8 for September 30, 19i5 vas not available at this time. Piguree were obtained from the Bureau of the Census Porm AS-8, dated September 30, 1974, signed by the City of Atlantic Beach, Florida on September 16, 1975. PACE 4 TYSON, FANCHER AND WHITE. CPAs. P.A. CERTIFIED PUBIJC ACCOUMAMS TYSON. FANCH@R AND WHITE. CPAs. P.A. CFRTIFIfD PUBLIC ACCOUNTANTS x ,.mrox nwn, cr..,. ]. ap ,ANGM6y YI. CI.a. naam c vnny c,.a. Honorable Mayor and City Commission City of Atlantic Beach, Plorida 5 ra.l ouk, Bas snsl xis Nuri.Ym6 A.~e.. N. J..4.amrll, D,a<h. Fla. srJio P6ane (9b) 263111 He have examined the Revenue Sharing Pund'Statement of Revenue, Appropriations, Encumbrances and Expenditures, and Statement of Obligations Incurrad of the City of Atlantic Beach, Plorida for the year ended September 30, 1975 and have compared the financial data for the year ended September 30, 1974 included on Bureau of Census Porm RS-8 with the audited records of the Ci[y of Atlantic Beach, Plorida. Our report thereon was issued on \ovember 6, 1975. Our examination vas made in accordance with generally accepted auditing standards and the "Audi[ Cuide and Standards for Revenue Sharing Recipients" issued by [he Offl ce of Revenue Sharing, U. S. Department of the Treasury and, accordingly; ncluded such Cests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. Aa part of our examination, we made a study of compliance matters as prescribed in Section V.D. of the "Guide" for the year ended September 30, 1975. Our study of compliance, which related to the requirements cited above, disclosed no conditions which we consider matters on non-compliance. Respectfully submitted, June 24, 1976 Jacksonville Beach, Plorida PAGE 5 f TYSON, FANCHEA AND WIIITE, CPAe, P.A. CERTTFTED PUBLIC ACCOUNTANTS 1 CITY OP ATIAN[IC BEACR ATLANTIC BRACR, P(ORIDA SRPT@D18R 30, 1975 TYSON. FANCHGR ANU q'HffE. CPM, h.A. CFATGIED VC&K ACCOUNIANIS CITY OP ATLANTIC H¢ACH, PIAAIDA IND¢% 1'0 RRPORT SEPT¢!B¢R 30, 1975 Page Number Cer[ifitate Letter 1 General Pund 2 - H Hater Attovlis -Operations 9 - 12 Utility Revenue Bond Pwd 13 - 15 Sever Fwd 16 - 19 Police Caur[ Cos[ Pusd 20 1971 General Obllgatlon Sever Bond SSnking Pwd 21 - 23 Police and Firemen's Penelon Trust Pwd 24 Federal Revenue Sharing Trust Yund 25 Publlc ¢mployment Program M<owt 26 Notes To Financial Statements 27 - 28 Audi COra' Comments 29 - 30 Tl'tiON. FAXC'HICR ,AND N'I1RF.. CPA.. P.A. CIJt71F113) I'L'DUC ACCOI\TAYIS TYSON. FANCHER AND N'HITE CPA,. P.A. CFltTIFlED PL'&lC ACC(A.'~TAnfS ,. ....o.:,w..c... govember 6, 1975 au.rw... m. c.... aw.e ~ .w.., c..~ To The City Commisaion City of Atlantic Beach, Plorida Pm W~. B.. vsv aye \s.,..,ah A.e.. N. 1.hwn.AL Bwh. Fls snm %~ (9WI 1Md111 Gentlemen: ve have examined the fimnclal statements of the variom funds of the City of Atlantic Beach, Plorida, as of September 30, 1975, and the related statements of cash tramactiom for the fiscal year then ended. Our examination vas made Sn accordance vlth gemrally accepted auditing ecandarde, and included such testa of [he aceoimting records and other auditing procedures as ve considered necessary. The City has adapted a fiscal year ending on September 30, as non required by the State of Plorida. In our opinion, the attached e[atemen[e present fairly the fimn- cial positions of the varlom fwde of the City of Atlantic Beach, Plorida, at September 30, 1975, and the celated cash tramactiona fox the fiscal year then ended, in conformity vi th generally accepted ac- counting principles applied on a comisten[ basis with previous full accomdng years. ifie "Auditors' rommente" Se not included vi[hin the above certi- fication. Respectfully submitted, ~,~- Page 1 1 1 1 t CITY OP ATLAliTLC BRACH, FUJRIDA GENEML PUND PINANCIAL POSITION SEPTF.IIBER 3D, 1975 RESOURCRS Crib on Hand and Sn Hank - Page 3 (Note A) $331,412 Re tamed Checks on Nand 483 Savings Account - Jordan Utility Eacrov 750 Temporary Advance To Public BmploymenC Program 2,500 Tares Receivable - Page 4 (Note B) 32,917 Lot Clearing Charges Receivable (All Prior Years')(No[e P) 364 Assessments for Demolition (NO [e P) 1,620 Asaea smarts for Tree Removals (Note P) 395 ToTAi. R_PgOIIRCES (Note A) $370.421 OBLICATIONB AND FUND BALANCES Obligations Unxemitted Payroll Deductions $ 2,332 UCl lity Ea crw Accounts 750 Oue To Police Court Coat Yund 292 TOTAL OBLIGATIONS S 3.374 Pumd Balances Reserve for uneolLec[ed Reaouzcea $ 37,776 Available for Appropriation 329.271 TOTAL FUND BALANCES $367.047 TOTS. OB .IGATIONC ANa a i.ea .c $37 The accompanying notes [o financial statements and "Auditors' Comen[a" are an integral part of this report. Page 2 7VtiON. PANCHICR AND \VlllTli. CPAs. P.A. CERTIFlFD IL'BLIC ACC(RiNrANiH 1~ CITY OP ATLANTIC BEACH, PIARIDA GENERAL FUND CASH RECEIPTS AND DISBURSEf~NTS FISCAL YEAR ENDED SEPTEMBER 30. 1975 Casfi Balance at September 30, 1974 $ 228,417 Add: Revenue Receipts - Page 5 $900,568 Unbudgeted Transfers Prom: Utility Revenue Hond Fwd 13,000 Mater System Renewal and Replacement Fuod 45,300 Interest oe 1Yme Certifiwtee (NO [e A) 19,945 Prtor Year Pederal Giant 40,200 Increase in Upreml[ted Payroll Deductions 437 Due To Pol£ce Court Coat Pwd 292 1.019,742 TOTAL CASH AVAILABLE $1,24 R, 159 7leducC Budgeted Expenditures (Page 8) $908,189 Payment From Park Clearing Pwda Received Sn Yziot Year 5,225 Payment of Amowts Dw Seuer Fwd 350 Advance To Public Employment Program Payroll Accowt 2,500 Returned Checks 483 916.747 CASN B leu t AT 6PTElB R 197 $ Co ei tion of Cash Balance at September 30, 1975: 8.6. Piret National Beach Benk-Checking $ 53,853 Payroll Bank Account 2,332 Cash Prods on Hand 1,022 Time Certificates - Oceap S[ata Hank 248,256 Time Ce r[ificate - S.B. Pirst Nat'l Beach Bads 25.949 14TAI,_ $ 1 .12 The accompanying notes to fSwnclal etatemente and "Audi tore' foments" are an integral part of [h SS report. Page 3 TYSON. FANC'HEN .4NU N'HRE. CPA+. P.A. CEICIiFlID PI;1R1C ACCOU~TANR i 1 1 CITY OP ATLANTIC BEACH, FLORIDA GENERAL POND TAI(ES RECEIVABLE SEPTE!ffiER 30, 1975 Real Estate Taxes: lax Certificates Outa[anding $ 2,544 Prior Year Tares on Hhieh Cettiflcatee Nets Not Issued: Beaches Aquacic Club 1,903 R.C.B.S. Corporation (Tax Assessments in litlgatlon) 14,620 Property Reverted To County 408 Various Assessments Omitted Hy City Clerk Prom Issuance of Certificates 321 Assessments Over 20 Years Pas[ Due 535 Uncollected Acnwts Assessed ey Caunty Por Years 1973-74 and 1974-75 9y935 TOTAL REAL ESTATB $30,266 Personal Property Taxes: Assessed Por Years 1968 Through 1974 X651 TDTAi. TAYE v ..IV R .o $~ The accompanying notes to flnancfal ata temente and "Auditors' Comlaente^ are an integral part of ihia report. Page4 TYSON. PANCHER ANI) \VHRF. CPA.. P.A. CERTFIID PLIRJC ACCfIUTTAMS CITY OF ATLANTIC BEACH, PLOAIDA CENBRAL PUNO REVENUE RECEIPTS ESTIXATBD AND ACTUAL FISCAL YEAR ENDED SEPTElDIER 30, 1975 Account Ea[lmaied Actual Beginning Cash Balances $ 219,446 S 228,417 100 Revenue Sharing - State of Plorida 117,500 102,411 101 Ad Valorem Taxes - Current (Note D) 113,888 97,885 102 Ad Valorem Taxes - Prior (Note D) 12,361 9,990 103 Pereoaal Property Tax (Note D) L0,000 7,576 104 Plnea and Porfeitures 45,000 52,568 105 Permits 12,000 5,737 106 Electrical Pranchiae 75,000 92,503 107 Garbage Collections 70,000 89,271 109 Licenses 15,000 19,944 110 Penalties and Interest 1,000 4,983 111 HSSeellaneoua Collections 3,500 2,619 112 Telephone Pranchiae 3,000 3,177 113 Radio Service -Neptune Beach 6,000 8,000 114 Lot Clearing 100 57 115 S. H. Sever Servlce Charge 6,000 5,259 116 Sever - Servlce Charge 80,000 76,508 117 Royal Palma Certificate No. 3 10,000 11,594 121 Transfer Ptom H.O.M. b R Aeeo~mt 80,000 80,000 122 Transfer Prom Hater Revenue Account 210,000 227,123 125 Pollee Reports 400 707 128 House Removal 100 127 129 Stale Puel Taz Refwd 2,500 2,529 TCITAL REVENUE RECEIPTS $1.092.795 1,128,985 lees - Beginning Caeh 228.417 ACTUAL REVENGE RECEIPTS $ The accompanying notes [o financial statements and "Audi COra' Commeais" are an integral part of chle report. Pagge 5 T'tiON. FANG}II?R AKI) \VHfPE. CF'A,. N.A. CFRTIFIfD it'BLN: ACCIA\TANfS CITY OF ATLANTIC BEACX, PIARIDA cexERA1 EvNo APPROPRIATIONS AND E%PENDITURES PISCAL YEAR ENDED SEPTEMBER 30, 1975 ' Accovni Appropriations Expenditures ADMINISTRATION 201 Personnel $ 59,183 $ 59,200 202-A Insurance-Bldg., Veh. M/C etc. 20,000 19,478 202-8 Insurance-Life b Hospitalization 11,100 10,922 203 Office Supplies b Postage 5,500 5,668 203-A tla in te~nce, Office MachLnea 2,000 1,81) ' 204 City Hall Maint. 6 C1eaNng 3,500 3,080 205 Audi[ ;,000 3,000 206 OASI b Expense 36,500 31.228 ' 207 209 Uti !!ties Advertising 5,000 2,827 4,407 2.827 210 Commissioners' Pund 834 632 211 Election Expense 39 39 212 City Manager's Expense 850 1,317 ' 213 Memberships 1,000 1,236 214 Retirement Pund 3,600 3,610 215 Hayor's Expense 800 973 216 Prof. Services-Codification 16,000 15,626 217 City Attorney 4,140 4,140 218 Commissioners' Salaries 600 600 ' 220 222 House Revaval City Street Lights 2,000 23,000 -0- 23,069 223 Royal Palma Cert. No. 3 4,000 2,706 224 Selva Narina Cer[. No. 1 5,500 5,253 225 Pension Plan Expense LL,570 -0- ' 2-1002 Capital 81000 2,949 TOTAL ADMiNISTA.?TION Sj30~54j $jQ~]~ PUBLIC SAFETY 301 Personnel $219,527 $216,937 302 Uniforms 3,462 3,462 303-A Police Supplies 2,329 2,329 ' 30}B Pi re Supplies 1,200 1,102 7115 Pension Por Police b Firemen 8,400 8,400 306 Jall !teals and Supplies 2,505 2,505 1 307 308 UtilLtiea Building Maintenance 5,000 2,371 4,953 2,276 309 Radio Fepair 1,000 975 110 State Supplement - Police 2,295 2,225 312 School Crass ing Guards 1,500 1,337 ' 313 Office Supplies 900 1,062 314 Municipal Judge 1,600 1,600 315 Alternate Judge 800 g00 ' }100 Capital 20y000 25267 TOTAt~. PIS Zi, f_S~P~ $~j~,.§$Q SZI~dQ ' The accompanying notes Co financial statements and "Auditors' Co®ente" are an Sntegral part of [hie report. P e 6 TYtiON. F,WCIIIiR Atfi VII RG. CI'A,, P.A. ' Ct71TiF111) 1'L&K ACC(J1!M1TAMS 1 CITY OP ATLANTIC BEACH, FLORIDA GENERAL POND APPROPRIATIONS ANI/ E%PENDITURBS PIS CAL YEAA RNDeD SEPTCTiBER 30, 1975 Account APDroprlatiooe EapendLturea TRANSPORTATION 401 Personnel S 10,192 $ 10,442 402 Gasoline 25,215 25,215 403 M1 b Graeae 1,738 1,738 404 Parts b Tires, Tolls, Hileage 17,732 17,732 405 Supplies 1.000 1,051 406 Shop Tools 600 581 11DTAL TRANSPORTATION $ 56.477 $ 56.759 SANITATION 501 Peraon~l $ 71,388 S 71,388 502 Garbage Disposal Landfill 10,850 10,776 503 Containers L', 352 11,352 504 Supplies 1,000 905 5-1000 Capital 23999 232999 TOTAL SANITATION $118.599 $118.420 LABOR 601 Personnel $115,150 $114,864 602 Unifotm Rental 5.000 4.889 Tna'AI. L°90R S1~Q.1fQ 5719.753 701 PUBLIC LOAKS Toole and Supplies $ 2,500 $ 2,453 702 Utilities 1.500 1,842 703 Equipment Maintenance 9,003 9,002 704 Beech and Street Ends 2,000 2,284 705 Drainage 6,000 6,220 709 Street Maintenance b Gen. Street Improvements 15,700 15,626 711 Street Signs 900 819 712 Building Maintenance 1,000 782 713 Sidevalks and Gutters 800 463 714 Schools, Training, etc. 600 544 7-1000 Capital I,y501 411 TOTAL PUBLIC NORKS $ 41.504 $ 40.446 The accompanying notes to financial statements and "Auditors' Comments" are an integral part of this report. Page 7 TYtiON. F.WCHISR ANU \'1'HRP.. CPA,. P.A. CFRTFIED YUBLN; ACCOUhTAhTS CIPY OP ATLANTIC BEACH, PLORIOA GENERAL PUND APPROPRIATIONS AND EXPENDITURES PIS CAL YEAR ENDRD SEPTEMBER 30, 1975 Account SEVER DEPARTP.ENT 801 Repairs and Replacements 802 Plant Halntenance 803 Utilities 804 Chlorine and Chemlca is 805 Supplies 806 Tools TOTAL SEVER DEPARTMENT PARKS AND RECREATION 901 Personnel 903 Too la and Supplies 904 Recreation Maintenance 905 Park Lighting 906 Community School Program 9-1000 Parks, Nev Land d Equip. TOTAL PARRS AND RECREATION EMERGENCY EXPENSE Aoozooriatione Expenditures $ 9,351 $ 9,351 2,433 2,543 36,482 36,482 5,700 5,675 1,070 1,070 300 151 $ $ 55.272 $ 25,072 $ 24,862 150 157 6,700 6,641 2,000 1,817 7,440 6,701 1J000 3r 354 $ 56"362 $.f.3. `2.32 140,945 -0- GRAND TOTAL - ALL DEPAATMENIS $jQ'2 $ Q§ 1~ The accompanying notes to Fln anclal eta temen [s and "Auditors' Commen te" are an integral part of this report. Page 8 TYSON. FANCHIiR AND \VF1RE. CPA,. P.A. CFJ2TIf!ID PL'&JC ACCOL'~TAMS 1 1 1 1 1 CITY OF ATLANTIC BEACN, FLORIDA MATER ACCOUNTB - OPERATIONS FINANCIAL POSITION SEPTEMBER 30 1975 RESOURCES Cash In Bank - Page 10 (Note A) Uncollected Mater Assessments TOTAL RESOURCES FUND BALANCES Mater Revenue Account (1) S 4.599 Mater Operations Nain tenanee and RePa1r Account (1 175 Mater System Aeneval and Replacement Fund 20,438 TOT (. B B . °.NCF (1) $2.860 available Eor [cans fer to General Fund. $23,433 1,%39 $ ]1 525"172 1 The accompanying notes to financial acs cements and "Auditors' Commence" ' are an integral part of Chis report. Page 9 TYSON. F~SCIIF:R :1~U \\'I11TE. CRA.. P..4. CF.RTIFICD i'CRLIC ACCO(\T.1]TS 1 1 1 1 1 1 CITY OP ATLANTIC BEACH, FLORIDA HATER ACCOUNTS - OPERATIONS CASH RECEIPTS AND DISBURSEMENTS PISGL YEAR ENDED SP.PTEMBER 30, 1975 Cash Balance at September 30, 1974 S 62,377 Add: Revenue Receipts - Page 11 $368,814 Interest Earned (Note A) 6.505 375.319 TGTAI !CH AVAI Aa1P 437,696 Deduct: Actual Eryendi[urea-Page 12 $%8,638 Transfer To General Pwd (Un- budgeted) 45,300 Refwds 325 414,263 H BALANCE AT CEPTHMB R 197 $ 23_433 Composition of Cash Balance at September 30 1975 Atlantic National Bank Checking Accow[e: Voter Revenue Atcowt $ 2,860 Va[er Operations, Maintenance and Repair Accow[ 135 Voter Sys tam Renewal and Re- placement Pund 204 Time Certifiw[es: Voter Sys [em Renewal and Replacement Pwd 21y T~TBIt $ The zccompanying no [es to finandal statements and "Audi tore'Commenta" are an integral part of this report. Page 10 T\'tiON. PAK('HFN A\U WII1fH. CPA.. P.A. CERTiFIrD IQ.'BLIC AC'COtATAhT CITY OP ATLANTIC BEACN, FLORIDA HATER ACCOUNTS - OPERATIONS REVENUE RECEIPTS / ESTIMATED AND ACNAL PISCAL YEAR ENDED SEPTEIOlER 30, 1975 Account: Estimated AcCUal 1101 Minimum Hater Charges $ 54,000 $ 57,987 1102 Excess Na ter Charges 18,000 17,341 1103 Cut-In Charges 5,000 3,993 1104 Service Charges 300 683 1105 Cigarette Tax 210,000 206,911 1106 Utility Tax 80,000 81,899 1107 Beginning Balanee 82,916 62,377 1108 Water Assessments 1y500 -0= TOTALS $451,716 $431,191 Less Beginning Cash Balance 82,916 62,377 >CNAL R EVE~L:E RECEIPTS $368_800 $4 The accompanying notes to flnencfal statements and "Auditors' Comments" are an integral par[ of Chia report. Page 11 TYtipY. P.4kCHER ANU VVHfiC. CPA,. P.A. CERTIFIED i'L'BUC ACCOInTAhTS CITY OP ATLANTIC BEACN, FLORIDA WATER ACCOUNTS - OPEAATIONB APPROPRIATIONS AND ERPENDITURES FISCAL YEAR ENDED SEPTEID7ER 30, 1975 Accoun[ ~ Appropriations Expenditures OPERATIONS. MAINTENANCE AND REPAIRS INDIRECT COSTS - PAID TO GENERAL P4IND 1402 Adminls [ration $ 21,600 $ 21,600 1403 Transportation 10,400 10,400 1404 Lahor 34,400 34,400 1406 Capital 13,600 13,600 1652 Capital Improvements - pater Plan[ 15y584 1921 TOTAL S 9J 5R4 S 91.921 PIAECT COSTS 1411 Repairs and Replacements $ 8,000 $ 7,966 1412 Tank Maintenance 5,134 90 1413 U[111 ties 11,514 11,514 1414 Chemleals 5,352 5,352 1415 Building Maintenance 500 413 1430 Miscellaneous 500 786 TOTAL $ 31_i00 $ 26121 RPNPNAL A('PMENT FUND 1501 New Mains, Me [ers, Service $ 20,000 $ 9,055 1502 Water Reservoir 1,000 -0- 1503 Emergency Water Plan[ 1~OOp lg6 TOTAL $ 22y000 $ 9 241 s. PnND TROUCrn C ND OTHPR 1221 Revenue Bond Pund-Bond Prin- cipal, for 1976 $ 11,000 $ 11,000 1221 Hond In terse[ and Paying Agee[ Charges (1976) 3,232 3,232 1242 To General Pund 210,000 227,123 1241 Transfer to Mater Sys [em, Renewal and Replacement 16.568 -0- 1T1TAL $240,800 5241,355 eND TOT r $369.384 $~ The accompanying notes [o financial statements and "Auditors' Comments" are an integral part of this report. Page 12 TYSON, fAN('1 IIiM AND \Ytlfif_. CT'As. P..4. fFffTIFILD li'BLIC ACCOL :~TA.vIl CITY OP ATLANTIC BEACH, FLORIDA UTILITY REVENUE BOND PUNB FINANCIAL POSITION SEPTEl18ER 30. 1975 RESOURCES Cash in A[Lan tic National Bank - Page 14 fl) (Noce A) $ 11,145 Fixed Assets - Nater System Na[er System Constructed Since Hay, 1958 from Proceeds of Bond Issue - Coet $238,827 Nev Hater Maine, Service and Meters Added Since Bond Lseue - Coe[ 280,008 518.635 $4 80 OBLIGATIONS AND POND HALANCBS Oblica[ions UC111ry Revenue Bonds Payable -Page 15 $ 97 000 Fund Balances: Unrest rf cted Pund Balance $425,910 Restricted Por Debt Service 27,070 652,980 AL OBLIGATIONS y0 PIINO B Isurne $549.980 (1) The excess of cash on deposit over the restricted fund balance Se avalLsble for transfer Co Che General Pnnd of [he CSty. The accompanying notes to financial sta tementa sad "Auditors' Co®ente" are an integral par[ of [hie report. Pa a 13 ll'SON. EANCHER A\I) WHfI"E. CPA.. P.A. CFRTIFltIJ Ix!HLN: ACCIXMANR 1 CITY OF ATLANTIC BRACH, FLORIDA DTILITY REVENUE BOND POND CASH RECEIPTS AND DI SBURSENENTS FISCAL YEAR ENDED SEPTENBER 70, 1975 Cash Balance at September 30, 1974 S 41,433 Add: Transfer Prom Na[e[ Revenue Account $ 14,232 interest on Savings (Added To Time Certificate Balance) (Note A) 2,100 1_6332 S07AL CASH AVAILABLE 57,765 Deduct: Rond Principal Pald $ 10,000 Interest and Paying AgenG'e Pees 3,620 Transfer To General Pund 13,_000 26,620 CA H RA AN pT EPTElB R ~0.._1~ $ j~j~ Comoosl[ion of Cash Halance at September 30. 1975 Atlantic National Bank Checking Account $ 1,045 71me Certif ica[e 30.100 TOTAL $ 31,155 The accompanying notes [o financial etetementa and "Auditors' Comments" are an Integral part of this report. Page 14 TYSON, FAN('1IF:R A\D WHITE. CP.4+. P.A. CERTIrILD Y1iSI1C ACCOIM1TAMS CITY OP ATLANTIC BEACH, FLORIDA UTILITY REVENUE BOND FUND UTILITY REVENUE BONDS PAYABLE PI ECAL YEAR ENDED SEPTElBEA 30, 1975 Haturity Dates Amount March 1, 1976 $11.000 March 1, 1977 11,000 March 1, 1978 11,000 March 1, 1979 12.000 March 1, 1980 12,000 March 1, 1981 13,000 March 1, 1982 13,000 March 1, 1983 141000 597.000 (1) Ibex not include future interest amoun[ing [o $14,228 vhlch will accrue over Che remaining life of the bonds. The accompanying notes to financial statements and "Auditors' Comments" are an integral part of this report. Page 15 Tl"SO V. FAKCH!!N AXU \\'FIRIi. CPA.. P.A. CERi1FILTl ii'INJC ACCOl1TAhT5 CITY OF ATIANTIC BP.ACN, PLOAI DA SENHt POND PINANCIAL POSITION sePTellBeR K1, 1975 gesougces Cash Sn Banks - Page 17 $ 16,065 Time Certificates of Deposit - Page 17 (Note A) 79,424 Unw Ile cted Sever Assessments 16,515 Note Receivable - Pecan Grove Apartments 6,255 Sever Construction Cos [s (1) 1,13D .051 TOT tA~aaplmCeS $1.248.310 OBLIGATIONS AND PUND BALANCE Ob1lAations Ge reral Obligation Bonds Payable (Issued, April 1, 1958) - Paga 19 $200,000 Certifica[ea of Indeb[edgggs Payable: / Bull Interests - No. 1 (2) 2.673 Bull Interests - No. 2 (2) 4,700 Bull Interests - No. 5 (2) 12,521 Bull Interests - No. 6 191040 TOTAL OBLIGATIONS $ 238,934 Pund Ha lances - By Source 1971 Bond Issue $474,591 Special Assessments 347,791 Cove rtmen[ Crant 67,094 Revolving Pund 119,900 TOTAL PUND BAIANCeS $1.009.376 70TAL OBLIGATIONS AND PUND BALANCEB $] (1) Includes coats Incurred from 1971 Cereral Obligation Sever Bond Cons [ruc[Son Account prior to 1973. (2) Pormerly owed to Selva Narlna Aealty Company. Payable from future sever revenues. The accompanying no [ea to financial atatemente and "Auditors' Comments" are an integral part of [his report. Page 16 TYSON. PA\CIIP:R ANU \\'tIRG. CPA.. P.A. CFRTIFlfD It'WJC ACC(XI~TA.Vf~ e 1 CITY OF ATLANTIC BEACH, PIARIDA SIOO:R FUND GSH RECEIPTS AND DISBURSEMENTS PISCAL YEAR ENDED SEPTEMBER 30, 1975 Cash Balance a[ September 30, 1974 $ 79,082 Add: Budgeted Revenue Receipts (Page 18) $123,278 Ines: Beginning Cash Balance Included 79082 44,196 Certificate of IndebtSedness, (Bull Interests) - No. 1 (1 5,253 Certificate of Indebtedness, (John Blw) No. 3 2,706 Transfer Pmm General Fund 350 TOTAL CASN AVAILABLE $131,587 Ileduct: Appropriated Expenditures (Page 18) $ 25,910 Transferred [0 1971 G.O. Sever Bond Sinking Pund 2,229 John Blov - Certificate Np. 3 ~ 2,706 Bull Interests - No. 1 (1/ J6,09g $ 95.489 Composition of Cash Balance at September 30. 1975 The Ocean S[a[e Bank - Checking Account $ 16,060 Southeast Piret National Beach Hank - Selva Marina Sewer Pund 5 Time Cer tifl ca tes of Deposit 79.424 147A1 $ (1) Porme rly owed [o Selva Hating Realty Compalry The accompanying notes to financial statements and "Audi tore' Comments" are an integral part of [hie report. Pae 17 TYSON. FANCIiI{R AN~ \\'HfTF. CPA:, P.A. CF]tTiFIFD IiBIJC ACCfwMAMS CITY OP ATLANTIC HEACN, FLORIDA SEMBR FUND REVENUES AND EXPENDITURES PI SCAL YEAR ENDED S EPTENBER 30, 1975 Estimated Actual REVENllES Beginning Cash Balance S 85,865 $ 79,082 Pecan Crove No[e Rec. 3,020 1,348 Ad Valorem Taxes (Note D) 17,880 17,880 Special Sever Asseaeaem[s 5,000 1,653 Interest on Time Certlflcatea (Note A) 4,560 4,074 Niacellaneoue Collections -0- 1,540 SOS Service Charge 4,354 5,404 Sever Conneccion Charges X500 12,297 TD7AL Revexues 5122.179 S1z3.279 EXPENDITURES Pund Balance $ 79,299 $ -0- Bond Principal 10,000 10,000 Bond Interest and Hank (hargea 7,880 7,907 Sever Conscructlon 251000 X003 7DTA1. 6XPENDI TUa_vc_ $122"179 S 25.91 The accompa,rying no tea to financlal statements and "Auditors' Commente° are an integral part of this report. Page 18 TYSON. FANCHFiR AND WIIfI'G. CPA,. P.A. LF.RTIFlED YLBIIC ACCOLA7ANI5 CITY OF ATLANTIC BEACN, FLORIDA SEVER FUND SEVER BONDS PAYABLE FISCAL YEAR ENDED SEPTEMBER 30, 1975 Maturity Dates Amount April 1, 1976 $ 10,000 April 1, 1977 10,000 April 1, 1978 10,000 April 1, 1979 10,000 April 1, 1980 15,000 April 1, 1981 15,000 April 1, 1982 15,000 April 1, 1983 15,000 Apr11 1, 1984 20,000 Apr11 1, 1985 20,000 April 1, 1986 20,000 April 1, 1987 20,000 April 1, 1988 2_0.000 TOTA1. $~ (1) (1) Does not Include future interea[ amounting [o $56,948, which will accrue over the remaining 11fe of the bonds. The accompanying notes to financial stateven[e and "Auditors' Commence" arc an Sn[e8ra1 part of Chia report. Page 19 TYSON, FAKC'HI:H AKU \V11ffF;. CPA,. I'.A. CERTI(lID 11. RIJ(: ACCOV~TANfS [~ 1 1 1 1 CITY OY ATLANTIC BEACH, PIARIDA POLICE COURT COST POND PINANCIAL POSITION SEP1'EMHER 30. 1975 RRSOUgces Cash in Bank (Per BeloV)* $ 4,124 Due From Cene ral Pund 292 TOTAL RESOURCES $ 4.416 CASH RECEIPTS AND DISBURSENENFS PIBGL YEAR ENDED SEPTENBER b, 1975 Cash Balance at September b, 1974 S 4,466 Add: Court Cos to Collected (Note E) Zy364 TOTAL GSN AVAILABLE $ 6,830 Deduct: Schools and Training $1,232 Remittances [o Stale of Ylorlda 1y182 2y414 GSN RALANf.P. A7 SEPTEMHER 30. 1975 $ 4.416 * Southeast Piret National Beach Bank The accompanying notes to financial statements and "Auditors' Comments" are an integral pert of this report. Page 20 TYSON. FANCfIliR AND WHITE. CPA.. P.A. CERTIFIED PLTRJC ACCOI!\TANIB ' LLABILITIES AND FUND BALANCE Accrued Interest Due January 1, 1975 $ 7,343 CITY OF ATLANTIC BEACH, FLORIDA 1971 CENEAAL OBLIGATION Shl7ER HOND SINKING FUND FINANCIAL POSITION SEPTI7ffiER 30. 1975 PESOURCES Cash in Bank - Yage 22 Time Certifica[¢s of Deposit (Note A) Amount To Be Pravlded By Ad Valorem Taxes Yor Re firemen[ of Bonda (Principal) TOTAL RESOURCES $ 2,817 17,246 456 000 S92@..2G ' Bonds Payable -Page 23 456,000 TOTAL LIABILlTi ES $463,343 f S 1 Fund Balance TOPA .I I -ITIE vD P MD BA ev-. 12.720 $~ The accompa~rying notes [o flnancfal eta cements and "Auditors' Co®ente" are an integral part of this repmrc. Page 21 TYSON. FAXCHIiN ARg) \\41fiE. CYAs. P.A. c1-RnnFn iti~euc Acccwvrnt+rs CITY OF ATLANTIC BEACH, FIARIOA 1971 GENERAL OBLIGATION SENER BOND SINKING PUND CASN RECEIPTS ANO DISBURSEIQ;NTS PISCAL YEAR ENDED SEPTEMBER 30, 1975 Estimated Actual Cash Balance at September 30 , 1974 516,865 Re ceipta: Transferred Prom General Pund Por Portion of 1974-1975 Ad Valorem Tax Levy (Note D) $42,212 $42,212 Transfer Prom Sever Pund 2,229 Interest on Investments (Note A) 970 TOTAL GSH AVAILABLE $42,212 ~ 45,411 Disbursements: Bond Principal Paid $12,000 $12,000 Bond Interest Paid J 212 30j 213 T07AL CASB DISBURSED $42,212 b1213 G°SH eAl!NC8 AT SBPT@018R 30. 1975 $2Q.~0 position of Caah Balance a[ September 30. 1975 S.B. PSrat National Bank Checking Account $ 2,817 Ocean State Bank, 90 Day 6 1/2X Time Certificate 17246 T7SBL $20.OA3 7be accompalry ing notes to Financial e[acementa and "Auditors' Comments" are an Sntegral part pf this report. Pagge 22 TYSON. PANC'IIER AKIJ \VHRC. CPA.. P.A. CFR IIFIFD IVRIIC ACCOI~YIANfS 1 1 1 1 1 1 CIlY OF ATLANTIC BEACH, FLORIDA 1971 GENERAL OBLIGATION SEVER BONDS ISSUED IN 1971 OUTS TANDi NC AS OF SEPTEMBER 30, 1975 SERIAL MATURITY NUMBERB DATES SALE PRICE DIB COUNT TOTAL 45-56 July 1, 1976 $ 11,778 $ 222 S 12,000 57-70 July 1, 1977 13,741 259 14,000 71-85 July 7, 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 19,630 370 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 22,000 234-258 July 1, 1987 24,538 462 25,000 259-28J July 1, 1988 24,538 462 25,000 284-308 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 70,000 394-423 July 1, 1993 29,445 555 30,000 424-463 July 1, 1994 39,260 740 40,000 464-500 July 1, 1995 31315 685 3j000 ~~ 5447.564 Sg.436 S5f4~Q(!4(1) (1) Does not Include future interest which v111 accrue over [he remaining life of bonds amounting co $344,439. The accompanying notes to financial eta Cements and "Auditors' Comments" are an Integral part of [his report.223g TYSON, PAN('f lfR ~~y1S \l'fIRC. CP.4,. P.A. cTxnfnn viceuc Acca ~'rANrs 1 CI1Y OP ATLANTIC BEACH, FLORIDA POLICE AND PI REHEN'S PENSION TRUET PUND FINANCIAL POSITION SEP TElBER 30, 1975 RESOURCES Ocean State Bank - (]leek ing Account S 1,357 Ocean State Bank -Savings Account 12,596 Ocean State Bank - Ttme Cerclf Scares 12y210 TOTAL S~ 3 FUND BALANCE Reatrirted Ba lame $~j¢3 RECEIPTS AND DISBURSEUENTS PISCAL YEAR ENDED SEPTE."ffiER 30, 1975 Cash Received' Employee Contributions $ 9,841 Cf ty Contributions 8,400 From Scale of Plorida: Firemen $ 2.855 Policemen 5.065 7,920 Interest on Savings and TSme Certtf tcates CNote A) 574 TOTAL RECEIVED $26,735 Cash Disbursed: Refunds of Employee Con [ribu[lmns 572 S~3 The accompanying notes to financial statements and "Auditors' Comments" are an Integral par[ of this report. Page 24 TYSON. 1',\VCf115N :\\U \VHRI:. CP.4.. P.A. CFATIFIED 14: BIJC ACCDt ATA.`~TS 1 CITY OF ATLANTIC BP,ACH, FLORIDA PED¢RAL AEV¢NUE SHARING TRUST FUND FINANCIAL POSITION SRp~ 1975 R¢sougc¢s Cash in Hank - Checking Account S 19,470 Time Certificates of Deposit (Note A) 211.927 'NT ~. a O mGrs $B~• FUND BALANCE estx lc ted Balane $ REC¢IPTS AND DISBURS@ffitFIS Ca6h RecelDCa: Received Prom Office of Federal Revenue Sharing: November 21, 1974, E¢titlemanta I Through IV and 1/4th of V $175,679 January 7, 1975, 1/4th of No. V 15,023 April 7, 1975 1/4th of No. V 15,023 July 18, 1975 1/4th of No. V 15.027 TOT.1L $220,748 Interest on Tempo[ary Cash Inver [menu (Note A) 10.649 NTAL CASN REC¢I VBD $231,397 Cash Disbursed -0- $ The accompanying notes to financial statements and "Audi tore' Comments" are an 1n[egral part of Ch Ss report. Page 25 TYSON. FA\CHFN A\D \VHRt. CPA.. 1'.A. C11171FifD ILBIJC A[COI.~TAY(G CITY OP ATLANTIC BEACX, FLORIDA P UELIC F!Q'IgYt4:NT PROGRAM ACCOUNT FINANCIAL POSITION SEPTEMBER 30. 1975 RESOURCES Cash !n Ocean State Sank $ 2,761 Due Prom City of lackaonville Beach * 191 TOTAL RESOURCES $ LIABILITIES Unremit tad Uosp iteli zation Insurance Deduc tfoos 52 Due - City Df A[lan[ic Beach General Fund For Temporary Advance $ 2~H00 $ $~ CASH RECEIPTS AND DISBURSEMENTS FISCAL YEAR ENDED SEPTEMBER 30, 1975 Cash Rece1D[s: Temporary Advance Prom General Pund of Ci[y of Atlantic Beach to Fund Payroll Account $ 2,500 Reimbursements Prom CSty of Jacksonville Beach 1_~Og2 TO'fAi RECEIPTS $14,582 Cash Msbureements: Payrolls Paid $11,803 Payroll Taxes 470 UnremiC [ed Xoap. Insuranre 52 ly 1 GSH IN BA.YK AT SEPTEBER ]0. 1975 $ $.3fj * Adminis[ra[or of Program The accompanying notes to flnantial statements and "AUditore' Comen[a" are an integral part of this repot[. Page 26 TYSON. FANCHFR AND \\'HffE. CPA:. P.A. cfJmftEn Ivauc AeecR,'n'rArrrc CITY OF ATLANTIC BRACH, PLORZDA ' NOTES 7Y1 PI NANCIAL STATEMRNTS SEPTEMBER 30, 7975 ' (A) MONEY' MANAGEMENT A profitable performance was accomplished during the fiscal year on temporary investment of cash funds of [he City. The manage- ment of money produced the follovtng interest earnings: General Fund $19,945 Water Accounts (Operations) 6,505 ' U[l lity Revenue Bond Fund 2,100 Sewer Pund 4,074 1971 G.O. Sever Bond Sinking Pund 970 ' Police 6 Piremen's Pension Trust Fund 574 Federal Revenue Sharing Trust Fund 10649 TOTAL $~ ~ (B) TADS RECEIVABLE Under prior year legislative authorization, [ax certiflca[ea were issued in the amount of $2,544. Ce rtificatea were not Sssued for delinquent [axes on certain properties described on page 4 of this re- port totaling, $17,787. (C) RESOURCES As a result of the May 29, 1974, ruling of [he Supreme Court of [he Slate of Plorida, the City of Atlantis Beach Se nw receiving both Federal and State revenue sharing funds directly from [hose gov- enwental entities. The Offiee of Pedetal Revenue Sharing remitted all prior period entitlement funds in November of 1975, amounting to 5175,679 and has subsequently been remitting quarterly the current en- titlements. IC was de [ermined available that $432,251 of State Revenue Sharing and cer[a in other d1s[rlbutlons had mt been received by [he City of Atlantic Beach from the City of Jacksonv111e for periods prior to the above court ruling. A request has been made for paymenq but to date, has no[ been received. Page 27 ll'ti0.~1. F:1\('fll'N :\\U \\'I IfIT. CPA., i'.A. CF.RTIFII:D PCIRJC ACC(R'Sr1]TS 1 1 1 (D) AD VAIURBX TA%ES The ad valorem [axes collected during the fiscal year were from: Real P.e tats $167,967 Personal Property ,_7,576 TOTAL $17 'Riey were allocated Ce: General Fund $115,451 Sever Pund 17,880 1971 G.O. Sewer Bond Sinking Pwd 42,212 z_Ter, $x1s~-~ (R) OOURT COSTS ffie City Attorney informed us that court costa were collec- ted So accordance with Chapter 943 Florida Statutes. (P) LOT CLRARINC, DPNOLITION AND TRBB RBNOYAL AS58SSMENIS Ne found no record during Che fiscal year under review of follow-up billings or other col lectton efforts on these items. Organ- ized effort should be made to collecC these items. I[ !e suggested that official Commission action be taken Co remove those aeaeeemen[s on which no collection efEOr[e can be made. I[ vas noted that no col- leetiona were made on dellnquenC personal property taxes aeseeeed prior ro the fiscal year 3973-74. Ve suggest concentrated effort be mde for collection, or officially cancel such ass esemen[a so they may be removed from [he records. Page 28 TYSON. FAN('HIiR AND N'flRli. CI'A:, P.A. CFJiliFll'A 1'l'BLIC ACCOI!~TA.VIS CITY OF ATLANTIC BEACH, FIARIDA CENEML COVERlMENT PUNDS AUDIT REPORT BEPTEMBER 30. 1975 AUDI70R5~ CONltENTS 'lt~e Following comments are submitted in the spec if led aeq uence as required by Section 4, Chapter 71-218, Florida Statutes: A. There were no Sr regularlcles reported in the preceeding annual post audit B. Remedial action has b¢en taken rove ring all recommenda- tions made Sn the ~teedinR annual post audits. Offi- cial action by the Commission vac taken to ea tablish a proper cy fund on November 4, 1975, Res. 75-19. C. The following recommendations are submitted for your conaidera[Son: 1. Occupational Licenses Ne recommend that a more efficient system of billing and collection of Occupational licensee be installed. This can be accomplished through use of multi-part license forms and the addresaograph equipment you nor have. 2. Unpaid Court Pines Pines rot paid in court should be paid at Che City Nall. Ne realize it is necessary [o accept partial payments on Fines but records and payment collection should no[ be a function of the police department. 3. Personnel Records The eaist Sng persom~el records are incomplete and inadequate 1n their present condition. Due to Che current work-load of the City Treasurer, Con- sideration should be given to assigning Chia duty to another person. D. b E. To the best of our knowledge [here were no illegal or im- proper expendtturea made during the year, nor vac [here any violation of lava which could be determined within the abll- i[y of an independent auditor [o make such dete[mEnatlon. Page 29 T}'tiON. f'A\('I IF:R :\VU \\'IIRI:. ('P.4+. 1'A. cfxmm~ Iv:euc ncca'~'rn~Ts P. Sae C. above. ' C. We found no evidence of fal3ure Co comply with account- ing procedures previously adopted- ' H. The only instances of variations ]n properly recording transactions were directly related to our Comments 1n C. above. I. There were no shortages discovered by the current year audit. 1 1 ' Page 30 TYSON, FANCH[SR AKU WklflF. CPA.. P.A. CEIC(IFI[D Pl,'&JC ACCOU\TAMS i~