Audit Report - 1974-1975I!~
e
TY30N, FA.~ICHEB AND WHITE, GPM, P.A.
CEATIF~D PUHLIC ACCOUNTANTS
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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
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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
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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
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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~
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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
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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
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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
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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
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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~