Audit Report - 1980-1981
t
CITY OF ATLANTIC BEACH, FLORIDA
' ALL FUNDS
AUDIT REPORT
t SEPTEMBER 30, 1981
1
1
n ~ 0 8
7ysan & Swinde--, P.A.
Cert fiedPublicAccountents
CITY OF ATLANTIC BEACH, FLORIDA
INDEX TO REPORT
SEPTEMBER 30, 1981
^ Page(s)
Accountants' Report 1
General Fund
Financial Position 2
Changes in Fund Balances 3
Revenue Receipts - Estimated and Actual 4
Summarized Appropriations and Expenditures 5
' Detailed Appropriations and Expenditures 6 - 9
Special Revenue Fund
Federal Revenue Sharing Fund:
' Financial Position 10
Revenues and Expenditures and Changes in Fund Balance 10
' Community Development:
Financial Position
11
Revenues and Expenditures and Changes in Fund Balance 11
Debt Service Fund
' Financial Position 12
Revenues and Expenditures and Changes in Fund Balance 13
Enterprise Funds - Combining Statements
Financial Position 14
' Statement of Operations
Changes in Contributed Capital and Retained Earnings 15
16
Changes in Financial Position 17
' Trust and Agency Funds
Employees' Retirement System:
Resources Available for Retirement Benefits 18
Changes in Net Assets 19
' Changes in Financial Position 20
Combining Statements - Other Trust and Agency Funds:
' Financial Position
P.eceipts and Disbursements 21
21
General Long-term Debt 22
' Notes to Financial Statements 23 - 7.6
Additional Information
General Long-term Debt 27
Combined Statement of Financial Position 28
Audit Comments Required Under Rules of the Auditor
' General "Annual Post Audit Requirements of Municipalities"
Pooled Cash Fund 29
30
r n ~R3?.
Tyson & Swindell, P.A.
Cert~ed Public Accountants
t ~oe~ yirv uup +~.r.u
2ulSnulh Thinl Slrerl
Jacksonville aeach, Florida 32250
9aJ241-8116
Tyson & Swindel4 P.A.
Cen~ed PublicACCOUntants
' The City Commission
City of Atlantic Beach
' Atlantic Beach, Florida 32233
' h'e have examined the financial statements relating to cash trans-
actions relative to the various funds and account groups of the
City of Atlantic Beach, Florida, for the years ended September 30,
' 1981 and 1980, as listed in the foregoing "Index to Report". Our
examination was made in accordance with generally accepted auditing
standards and, accordingly, included such tests of the accounting
' records and such other auditing procedures as we considered necessary
in the circumstances.
1
1
1
The aforementioned statements do not give effect to accounts receiv-
able, accounts payable and accrued items. Accordingly, the statements
do not present financial position and results of operations in con-
formity with generally accepted accounting principles.
The City has not maintained a record of its general fixed assets
and, accordingly, a statement of general fixed assets required by
generally accepted accounting principles is not included in the
financial report.
No depreciation data has been recorded in the water and sewer pro-
prietary fund operations for current and prior periods. The amounts
by which the financial statements would change, if these items were
included, which could be material, cannot be determined.
Because of the possible material effect of the above omissions, which
are at variance with generally accepted accounting principles, in
our opinion, the aforementioned financial statements do not present
fairly the financial position of the various funds and account groups
of the City of Atlantic Beach at September 30, 1981 and 1980, or the
results of its operations or changes in its financial position for
the years then ended in conformity with generally accepted accounting
principles.
T on~& Swindell, P.A.
January 14, 1982
Membns:
' Amencen lrolim~e of
Unified Fublic.vswn,anu
Florida Irolil~le of
Cen~edWblic,vcwmanu
X00833
CITY OF ATLANTIC BEACH, FLORIDA
_ GENERAL FUND
' ~ (CASH BASIS)
STATEh1ENT OF FINANCIAL POSITION
SEPTEMBER 30, 1981 AND 1980
RESOURCES
' Equity in Pooled Cash
Fuel Inventory
Returned Checks on Hand
Escrow Funds - Savings Accounts
Due from Other Funds
Total Resources
' LIABILITIES AND FU1
Due Other Funds
Escrow Funds Held - Cox Cable T,V.
' Fund Baiance
Total Liabilities and Fund Balance
1
1
1
BALANCE
See notes to financial statements
2
Tyson & Swindell, P.A.
Cert~ed Pu6licAccountanta
2
1981 1980
3136,617 5296,829
6,887 -0-
57 231
5,000 5,000
9,004 -0-
5157,565 $302,060
$ 173 $ 571
5,000 5,000
152,392 296,489
5157,565 $3'0,060
Q~~~3/1
CITY OF ATLANTIC BEACH, FLORIDA 3
GENERAL FUND
~ (CASH BASIS)
' CHANGES IN FUND BALANCE
SEPTEMBER 30, 1981 AND 1980
1981 1980
Balances at Beg inning of Years 3 296,489 f 493,641
' Add:
Revenues 1,155,823 1,127,482
Deduct:
Expenditures (1,299,920) (1,324,634)
' Balances at End of Years $ 152,392 $ 296,489
See notes to financial statements.
3 ~~n8.35
Tyson & SwLtdel(, P.A.
Cen~ed Po61icAccountants
CITY OF ATLANTIC BEACH, FLORIDA 4
GENERAL FUND
(CASH BASIS)
REVENUE RECEIPTS - ESTIMATED AND ACT UAL
SEPTEMBER 30. 1 981 AND 1980 F.
1
s
i
i 1981
Budget
-
ctua 1980
chi t'aal
e
cr
pt
on
Ad Valorem Taxes - Net
Electric Franchise S 361,278.~j~
175
000-~ 350,323
107
484 S 181,160
88
, , ,528
1
Telephone Franchise 5,700- 6,112 5,669
Cable Television Franchise 2,000E 2,000 2
000
' Penalties and Interest - Taxes 1,200-' 1,516 ,
1
152
Occupational Licenses ~15,450~ 15,017 ,
14
862
Permits 11,000 19,526 ,
21,624
' 'State Revenue Sharing 71,700 73,827 91,566
Additional Homestead Exemption lv 1,254 -0-
State Pension Contribution - Police 10,000r 10,537 10,735
' State Pension Contribution - Fire
Fuel Tax Refund 3,20P"
2
700 4,188
99
1 3,876
, ,
4 2,963
County Occupational Licenses 6,500r' 18,398 6
164
Public Safety - Radio Service 19,777 21,805 ,
12
507
' Police Reports 600' 846 ,
791
Fines and Forfeitures 55,000 53,611 57,137
Mobile Home Licenses 1,500 5,064 10,194
Interest on Temporary Cash Invest-
' ments 25,000 31,853 49,653
Lot Clearing 100 43 -0-
' Water and Sewer Transfers
State Grants - DCA 90,00 0
750 54,416
7
60 392,421
,
1 -0-
State Grants - Zoning 11,511' 3,400 -0-
Miscellaneous 6,000 2,006 103
Utility Taxes 95,000'" 91,941 -0-
Cigarette Tax I78,937"" 216,229 -0-
CETA keimbursement -0- 5,068 -0-
' Transfer from Federal Revenue Sharing 49,045" 36,715 74,357
Insurance Compensation Reimbursement 1" 12,966 -0-
Sale of Surplus Material 1,000-' 83 -0-
51,199,450 51, 155,823 $1,127,482
See notes to financial statements.
4 ~~~RB~s
Tyson & Swtndetl, P.A.
Cert~ed Public Accountants
1
CITY OF ATLANTIC BEACH, FLORIDA
GENERAL FUND
(CASH BASIS)
SUMMARIZED APPROPRIATIONS AND EXPENDITURES
SEPTEMBER 30, 1961 AND 1980
Department/Function
t Administration
Public Safety
Public Works
' Recreation
Intragovernmental Services
Other
1981
Bu aet Actual
$ 294,307 $ 279,682
543,288 547,488
340,318 223,637
97,553 86,305
107,001 103,364
62,654 59.444
$1,445,121 $1,294,920
See notes to financial statements.
s
Tyson & Swindell, P.A.
Certified Pu61ic Accauntan to
S
1980
~ctua3-
$ z73,lo0
520,276
224,576
94,332
96,602
115,748
$1,324,634
CITY OF ATLANTIC BEACN, FLORIDA 6
GENERA L FUND
~ (CASH BASIS)
' APPROPRIATIONS A ND EXPENDITURES
SEPTEMBER 30, 1981 AND 1960
1
1981 1980
Budget ctual Actual
Administration
' General Government:
Professional Services
000!
S 41
48
515/ $
4R
587
Di
P ,
3
000 ,
/
2 ,
er
em , ,714 1,703
Utility Services 2,650/ 3,117 2
062
' Repairs and Maintenance 5,000 ~- 3,692 /
7 ,
3,510
Maintenance - Office Machines 7,000/ 6,02 5,466
n
a /
' Other
Current Ch
rges
Election Expense 3,500/
000/
1 6,135
961/ 2 698
2,744
,
/ /
Office Supplies 11,500 11,353 11,957
Comprehensive Plan
Operating Supplies -0-
-D- -0- /
8 704
500
1
~ Books and Publications -0- -0- / ,
2,111
~ Schools and Training 750 '~ 522 1,191
~ Advertising -0- -0- -0-
Liability, Vehicles and Worker's
Insurance
b -0-
/ -0-
/ -0-
Mem
erships 2,200 2 638 -0-
82,60 90,382 89,645
Legislative:
Salaries
7
200'
7
0/
7
f ,
"' ,15
8 ,200
Bene
its 2,370 2,19 473
Florida League - Per Diem 1,500'
/ 450'l 3,391
Florida League - Travel 500 251' 2,195
11,570 / 10,049 13,259
Executive:
Salaries 27,720 22,564 25,200
Benefits 5,875 5,423 4,034
Per Diem 1,000 812 1,831
' Vehicle Insurance 28,345 y--
/ 31 7-82 / 27,635
62,940 60,581/ 58,700
Finance:
Salaries 88,991 70,480 69,920
I Benefits 18,257 18,371 16,707
Equipment 2,000 1,667 ~- 10,597
Other - Retirement 3,610 3,600 5,895
I Other Non-operating 0 -0- 3,610
112,858"" 9~1~ 106,729
See notes to financial statements
6
~~; r~J l~
Tyson & Swindell, P.A.
Cert~ed Public Accountants
CITY OF ATLANTIC BEACH, FLORIDA
GENERAL FUND
(CASH BASIS)
APPROPRIATIONS AND EXPENDITURES
SEPTEMBBR 30, 1981 AND 1980
1
1981
Budget Actual
Legal Council:
Professional Services $ 5,200 $ 5,200
' Plan Professional Services 14,389 14,389
Miscellaneous Expense 4,750 4,963
24,339 24,552
' Total Administration
1 Public Safety
Law Enforcement:
Salaries
Benefits
Communication
Utility Service
' Rent
Repairs and Maintenance
Radio Repair
' Office Supplies
Operating Supplies
Other Supplies
Automobiles
Portable Radios
1 Fire Control:
Salaries
' Benefits
Utility Services
Communication
' Repairs and haintenance
Office Supplies
Operating Supplies
' Radio Repair
Other Supplies
Equipment
Vehicle Inspection
Detention - Sail Meals
' Utilities:
Street and Traffic Lights
7
1980
Arfual
$ 4,767
-0-
-0-
4,767
$ 294,307 $ 279,682 $ 273,100
$ 327,478 $ 343,108 $
93,750 84,688
3,200 3,773
7,250 7,566
800 939
2,000 3,599
1,700 851
1,500 1,357
4,500 5,018
-0- -0-
6,900 -0-
4,000 3,0354'
453,078 453,934
64,809
17,850
1
350
1,000
800
2,700
500
-0-
2,000
100
68,889
18,583
-0-
458
1,017
301
2,971
400
-0-
781
14
90,110
100
292,844
60,725
3,154
6,987
567
3,300
1,657
1,685
2,03R
3,209
28,546
-0-
404,732
59,971
13,592
-0-
306
291
277
341
-0-
1,096
1,356
_n-
93,414 77,230
-0- -0-
-0- 140 36,314
' Total Public Safety $ 543,288 $ 547,488 S 520,276
See notes to financial statements.
' Tyson & Swindell, P.A. ~f .~i
Cart fed Pu61ic Accountants
CITY OF ATLANTIC BEACH, FLORIDA 8
GENERA L FUND
(CASH BASIS)
APPROPRIATIONS A ND EXPENDITURES
SEPTEDIB ER 30, 1981 AND 1980
1981 1980
Bud¢et Actual Actual
' Public Works
Roads and Streets:
' Salaries $ 114,167 $ 115,321 S 98,939
Benefits 33,151 31,752 21,972
Communication 1,200 1,512 1,073
Utility Service 42,500 45,335 1,760
' Repairs and Maintenance 7,000 7,243 6,538
Building Maintenance 1,000 75 769
Operating Supplies 7,000 6,765 6,031
' Tools and Supplies 3,200 4,889 2,561
Beach Street Ends 1,000 125 -0-
Street Maintenance 9,000 3,336 70,313
Street Signs and Sign Equipment 1,700 1,193 1,225
Eooks and Publications -0- -0- 713
Machinery and Equipment 12,000 1,150~y 10,556
Other - Surplus Equipment 3,000 789 + 1,176
School Crossing Lights 650 432 »' 950
School and Training 750 720 -0-
Building P.W. 100,000 -0- -0-
' Mental Health Grants 3,000 3,000 -0-
Total Public Works $ 340,318 $ 223,637 $ 224,576
'
' Recreation
Parks and Recreation:
Salaries $ 53,016 $ 41,796 $ 57,567
Benefits 14,537 13,746 14,555
Communication 450 -0- 162
Utility Service 6,000 8,533 4,370
Repairs and Maintenance 4,500 3,991 4,400
' Operating Supplies 500 249 278
Improvements - Non-Buildings 11,500 12,441 ~ 13,000
Office Supplies -0- -0- -0-
' Buildings 2,500 1,094 + -0-
Equipment 4,550 4,455r -0-
' Total Parks and Recreation $ 97,553 f 66,305 $ 94,332
1
'
See notes to financial statements. no,~84~
8
Tyaon & Swindell, P.A.
Cent fiedl'u6licAccountenta
CITY OF ATLANTIC BEACH, FLORIDA
.GENERAL FUND
' ~ (CASH BASIS)
APPROPRIATIONS :1ND EXPENDITURES
SEPTEMBER 30, 1981 AND 1981
' Int ragovernmental Services
Motor Transportation:
Gasoline
Grease and Oil
Parts
1 Tires
Shop Tools
Vehicle Inspection
Other:
Vehicle Repairs - Insurance
Total Intragovermental Services
Other Expenditures
' Sanitation Fund Subsidy
Public Service Employment:
Salaries
Benefits
' Less Amount Reimbursed from Man-
power Consortium
Refunds
I Total Other Expenditures
Totals
1
_ 1981
Bu ¢et ctua
$ 68,000 $ 63,524
3,000 2,975
20,000 20,523
7,500 7,388
1,400 1,935
100 42
7,001 6,977
$ 107,001 $ 103,364
$ 62,154 $ 59,444
-0- -0-
-0- -0-
-0- -0-
500 -0-
62.654 59.444
$1,445,121 $1,299,920
9
1980
AcAct~-
$ 66,510
1,995
21,592
5,109
1,396
-0-
-0-
$ 96,602
$ 106,351
19,782
1,205
(11,590)
it~,.vo
$1,324,634
See notes to financial statements. n~(~BQ,
9
Tyson & Swindell, P.A.
Cert~ed Public Accountants
CITY OF ATLANTIC BEACH, FLORIDA 10
FEDERAL REVENUE SHARING FUND
_ (CASH BASIS)
' STAT EFIENT OF FINANCIAL POSITION
SEPTEMBER 30, 1981 AND 1980
1981 1980
Resources
Cash Trust Fund - Checking $ 1 $ 1
Equity in Pooled Cash 63,195 115,173
Total Resources ~$ 83,196 $115,174
Fund Balance - Restricted $ 83,196 $115,174
' REVENUES AND EXPENDITU RES
(CASH BASIS)
YEAR ENDED SEPTEMBER 30, 1981
'
1981 1980
Bud¢et Actual
° Actual
Revenues ir,i~ ~ ~. c
.
Federal Entitlements $ 58,083 $ 58,083 $ 52,343
Interest Earned 18,591 18,591 15,084
' Totals 76,674 76,674 67,427
' Expenditures
Copy Machine -0- -0- 7,500
' School Crossing Lights -0- -0- 950
Transfer to Sanitation -0- -0- 24,984
Refuse Vehicles 11,s30 11,530 * 40,923
Fire Truck 58,100 58,100 y -0-
' Fire Equipment 2,182 2,182 ~ -0-
Public Safety 36,840 36,640 -0-
' Totals 108,652 108,652 74,357
Excess (Deficient ) of Revenues over
Expen itures (31,978 ) (31,978) (6,930)
' Fund Balances at October 1, 1980 115,174 115,174 122,104
Fund Balances at Seutemb er 30, 1981 $ 83,196 $ 83,196 5115,174
'
See notes to financial statements.
10 00084?
Tyson & Swindell, P.A.
Cert~ed Public Accountants
CITY OF ATLANTIC BEACH, FLORIDA 11
SPECIAL REVENUE FUND - COMMUNITY DEVELOPMENT
_ STATEMENT OF FINANCIAL POSITION
SEPTEMBER 30. 1981
1981
Resources $ _p_
Total Resources $ -0-
Liabilities
Due to General Fund $ 9,004
Fund Balance (9,004)
Total Liabilities and Fund Balance $ -0-
REVENUES AND EXPENDITURES
(CASH BASIS)
SEPTEAIB ER 30, 1981
Revenues S _p_
Total Revenues -p-
Expenditures
Salaries 1,924
Advertising 96
CDBG Engineering 6,984
Total Expenditures f 9,004
Change in Fund Balance
Fund Balance at October 1, 1980 f -0-
Revenues -p_
Expenditures 9,004
Fund Balance at September 30, 1981 $(9,004)
See notes to financial statements.
11
Tyson & Swindell, Prf. n n n
Cert fiedPublicAccountants
CITY OF AT GANTIC BEACH, FLORIDA 12
DEBT SERVICE FUND
' ~ (CASH BASIS)
STATEMENT OF FINANCIAL POSITION
SEPTEMBER 30, 1981 AND 1980
1981 1980
' Resources
Equity in Pooled Cash $ 56,479 S 47,529
' Fund Balance Available $ 56,479 S 47,529
1
1
1
i~
1
'
See notes to financial statements.
' 12 noos44
Tyson & Swindell, P.A.
Cent fiedPublicAccountant~
CITY OF ATLANTIC BEACH, FLORIDA
DEBT SERVICE FUND
_ (CASH BASIS)
STATEMENT OF REVENUES AND EXPENDITURES
SEPTEMBER 30, 1981 AND 1980
' Revenues
1 Ad Valorem Taxes
Interest Income
Totals
Expenditures
Principal Payments - 1958 Issue
Principal Payments - 1971 Issue
Interest - 1958 Tssue
Interest - 1971-Issue
' Totals
Excess of Revenues over Expenditures
' Available Fund Balances at Beginning of
Years
' Available Fund Balances at End of Years
t
1
1981
_u ReB~ t Aetugl
S 60,873 S 60,873
.1,000 7,204
61,873 -68,077
15,000 15,000
17,000 17,000
5,540 2,794
24,333 24,333
61,873 59.127
5 -0- 8,950
1
i
See notes to financial statements.
13
Tyson & Swindell, P.A.
Cert~ed PubiicAccountants
13
1980
Actual
$ 62,577
6,895
69,472
15,000
15,000
5,867
25.452
52,319
7,153
47,529 40,376
$ 56,479 $ 47,529
n0~$~J
.-~ CITY OF ATLANTIC BEACH, FLORIDA
ENTERPRISE FUND
(CASH BASIS)
COAfB TN ING STATEI4ENT OP FINANCIAL POSITION sr
SEPTEMBER 30 1981 AND 1980 00
O
O
Tot als C
(Memorand um Only)
water Sewer Sanitation Septemb er 3~
Operations aerations Fund _
1981 -T3$G-
Assets
Equity in Pooled Cash ~ ~'$ 114,258 S 269,443 S- -0- $ 383,701 S 244,072
Bond Retirement Escrow Funds 27,j09 -0- -0- 27,209 42,135
Assessments Receivable `_4.37% 10,250 -0- 11,187 11,187
Water System l 1_, 3441492, _ 9- -0- 1,344,492 1,344,492
Sewer System -0- 1,243 2T3- ~ -0- 1,243,273 1,243,273
Vehicles and Containers -0- -~-0= 185,336 185,336 193,036
Accumulated Depreciation -0- -0- (91,242) (91,242) (89,877)
Due from Other Funds 3,255 173 -0- 3,42P 173
Totals $1,490,151 51,523,139 $ 94,094 53,107,384 $2,9B8,490
Liabilities
Customer Deposits $ 20,811 $ -0- 3 -0- $ 20,811 $ 13,278
Revenue Bonds Payable 27,000 -0- -0- 27,000 40,000
Certificates of Indebtedness -0- -0- -0- -0- 7,577
Total Liabilities 47,8].1 -0- -0- 47,811 60,855
Equity
Contributed Capital and Retained Earnings 1,442,340 1,523,139 94,094 3,059,573 2,927,635
To*_aI Liabilities and Equity 51,490,151 $1,523,139 $ 94,094 $3,107,384 $2,988,490
See notes to financial statements.
14
Tyson & Swindell, P.A.
Certified FublicAceaunlants
~ ~~ i~_~ ~ r r ~ ~^ ~ ~
_ CITY OF ATLANTIC BEA CH, FLORIDA 15
ENTERPRISE F UND
(CASH BASIS)
COMBINING STATEMENT OF OPERATIONS
SEPTEMBER 30, 1981 AND 1980 _
TOt als
(Memorandum Only)
Water
-' Operations
`
- Sewer O perations
- Sanitation Fund ~ LJ'S~ 1980
Operating Revenues u gS
d et C~
tuaT U gfi~et C~tuai- u Re$TL ~~ct~af u get ctua ctua
Sale of Water ~$ 95,000 $ 220768/S -D- $ -D- S -0- $ -0- $ 95,000 $ 120,768 $ 100
807
-1 Water Tap Charges
C
ti
Ch .- 6,500 13,073 -0- -0- -0- -0- 6,500 13,073 ,
10,216
onnec
on
arges ., 10,000 29,008 25,000 ~ 81,568 -0- -0- 35,000 110,576 90
147
Service Charges - 600 1,700 146,500
~ 142,866 139,500 146,925 286,600 291
493 ,
216
523
Late Charges ~ 4,000 4,749 -0- -0- -0- -0- 4,000 ,
4
749 ,
5,732
I Water Assessment 250 -0- 500 632 -0- -0- 750 ,
632 -0-
Totals -116,350 169,298 172,000 225,068 139,500 146,925 427.850 _ 541.291 423,425
' O~eratinR Expenses
Disposal Landfill -0- -0- -0- -0- 20,000 37,370 20,000 37
370 -p-
Salaries and Benefits
O
i
S
~ 33,792 37,668 38,527 42,876 168,154 164,555 240,473 ,
245,099 231,299
' perat
ng
upplies 3,800 4,004 7,500 -5,561 - 1,500 4,398 12,800 13
963 12
662
Communication -0- -0- 375 380 ~ -0- -0- 375 ,
-0- ,
-0-
Other Operating Expenses 3,000 -0- -0- -0- -0- -0- 3,000 360 21
622
1 Utilities 26,000 35,978 60,000 71,935 -0- -0- 86,000 107
913 ,
81
867
Depreciation -0- -0- -0- -0- --0- 20,595 -0- ,
20
595 ,
14
892
Repairs and Mairt enance 6,500 11,141 9,500 12,559 -0- 46 76,000 ,
23
746 ,
23
967
Mains and Meters 13,000 14,809 -0- -0- -0- -0- 13,000 ,
609
14 ,
-0-
' Sewer Pump and Sewer R/A -0- -0- 3,400 1,722 -0- -
`0- 3,400 ,
1,'22 -0- 1
Totals 86,092 103,600 11902 135,033 189,654 226,964 395,048 465,597 386,309
Operating Income (Loss) 30,258 _ 65,698 52,698 90,035 SO 154) (80,039) 32.802 75.694 37,116
No_n-operating Revenues (Expenses)
' Interest Revenue
Cigarette Taxes ~ 8,000
-0- 14,522'
-0 10,000
0 21,019 -0- -0- 18,000 35,541 42,494
Utility Taxes
~ 1
200 -
921 -
-
-0- -0-
-0 -0-
0 -0- -0- -0- 174,754
Interest Expense and Fiscal Charges ,
1 200)
(1,]92)
-0- -
-
-0- -
-
-0- -0-
-0- 1,200
(1
200) 921
(1
192) 104,800
(1
981)
' Total Non-operating Revenues 8,000 _
_ 14,251 10,000 21,019 _
-0- -0- ,
18,000 _
,
35,270 ,
320,067
Income before Operating Transfers 38,258 79,949 62,698 111,054 (50,154) (80,039) 50,802 110,964 357,183
' Operating Transfers In (Out)
Transfers (to) fTUm General Fund (60,000) (30,000) (30,000) (20,000) 62,154 59,444 (27,846) 9,444 (286
069)
Transfers from Federal Revenue Sharing -0- -0- -0- - -0- -0- 11,530 -0- 11,530 ,
-0-
Total Operating Transfers (60,000) (30,000) (30,000) (20,000) 62,154 70,974 (27,846) 20,974 (286,069)
Net Income $(21,742) 49,949 S 32,696 91,054 S 12,000 (9,065) $ 22,956 131,935 71,114
Contributed Ca ital and Retained
~arnin s - cto er
Conte ute Ca ital and Retained 1,392,391 1,432,OR5 103,159 2,927,635 2,856,521
arnings - eptem er S1 442,340 $1,523,139 $ 94,094 $3,059,573 52,9?7,635
See notes to financial statements.
15
Tynan & SwlndeU, PA.
Cert~ed Public Accountants
1
1
1
1
l
,. .,.
~~4847
CITY OF ATLANTIC REACH, FLORIDA
ENTERPRISE FUNDS
(CASH BASIS) cr
COFIB INING STATEFIENT OF CHANGES IN CONTRIBUTED CAPITAL AND RETAINED EARNINGS ~
SEPTEMBER 30, 1981 AND 1980 O
O
O
Totals
[Memorandum Only)
Water Sewer Sanitation -~eptem ear - 3a
Operations Operations Fund 15$1 1'3&~
Contributed Cao ital
Balances - Beginning of
Periods ~ S 705,662 $ 97,065 $ 96,328_ S 899,055 S 858,131
Federal Revenue Sharing Funds -0- -0- 11,530- 11,530 40,924
Municipal Funds -0- -0- -0- -0- - -0-
Balances at End of Periods 705,662 97,065 107,856 910,585 899,055
Retained Earnings - Unrestricted
Balances - Beginning of
Periods 589,647 1,109,173 6,831 1,705,651 1 ,779,960
Net Income 49,949 91,054 (9,065) 131,938 71,114
Transfers to Contributed
Capital -0- -0- (11,530) (11,530) (40,924)
Transfers to Restricted -0- (81,568) -0- (81,568) (104,499)
Balances at End of Periods 639,596 1,118,659 (13,764) 1,744,491 1 ,705,651
Retained Earnings - Restricted
Restricted:
Balances - Beginning of
Periods 97,082- 225,847 -0- 322,929 218,430
Transfers from Unrestricted ,-0- _ 81,568< -0- _51,568 104,499
Balances at End of Periods 97,082 307,415 -0- 404,497 322,929
Totals $1,442,340 31,523,139 $ 94,094 33,059,573 $2 ,927,635
See notes to financial statements.
16
Tyson & Swlnde~, P.A.
Cert~ed Public Accountants
~ ~ ~ N ~ ~ ~ ~ ~ ~ r ~ ~ ~ ~ ~ ~ ~ ~.
,~ CITY OF ATLANTIC BEACH, FLORIDA
-~ ENTERPRISE FUNDS
(CASH BASIS)
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
SEPTEMBER 30 1981 AND 1980
Sources of Working Capital
Operations:
Net Income
Items not requiring Working Capital
(Depreciation)
Working Capital Provided by Operations
Increase in Customer Deposits
Collections on Assessments
Total Sources of Working Capital
Uses of Working Capital
Acquisition of Property, Plant, and
Equipment
Advances to Other Funds
Payment on Revenue Bonds
Payment on Certificates of Indebtedness
Transfer to Bond Retirement Escrow Fund
Total Uses of Working Capital
Net Increase (Decrease) in Working
Zap~tal
Elements of Decrease in Working Capital
Increase (Decrease) in Pooled Cash
Decrease in Retirement Escrow Funds
Net Increase (Decrease) in Wo r_k i~
apita $41,227 $83;427
See notes to financial statements.
17
Tyaon & Swindell, P.A.
Cert~ed Public Accountants
Water Sewer Sanitation
Operations Operations Fund
!r
W
Totals ~
(Memorandum_ _ Ong
___ S~~tem~e~~30 `-
$49,949 $91,054 $ [9,065) S 131,938 $ 71,114
-0- -0- 20,595 20,595 14,892
49,949 91,054 11,530 152,533 86,006
7,533 -0- -0- 7,533 3,754
_0_ -0_ _0- -0- 968
57,482 91,054 11,530 160,066 90,728
-0- -0- 11,530 11,530 55,315
3,255 -0- -0- 3,255 173
13,000 -0- -0- 1,000 12,000
-0- 7,577 -0- 7,577 9,262
-0- -0- -0- -0- 42,135
16,255 7,577 11,530 35,362 118,885
$41,227 $831477 $ -0- $ 124,704 S (28,157)
$ -0- $ 139,630 $ 28,157
-0- (14,926) -0-
S -o- S lza,7oa 3 (za,ls7)
$56,153 $83,477
(14,926) -0-
r
1
1
i~
CITY OF ATLANTIC BEACH, FLORIDA
Eh1P LOYEES' RETIREMENT SYSTEM
_ (CASH BASIS)
STATEMENT OF RESOURCES AVAILABLE FOR RETI REh1ENT BENEFITS
SEPTEMBER 30, 1981 AND 1980
Equity in Pooled Cash
New England Life Insurance Company -
Investment Contract
Total Resources
LIABILITIES AND RESERVES
Reserve for Employer Contributions
Reserve for Retired Benefit Payments
Total Liabilities and Reserves
See notes to financial statements.
18
7~son & 3wlndel-, P.A.
Cert fiedPublicAccountanta
1981
$368,270
328,878
$697,148
$630,803
66,345
$697,148
18
1980
$222,785
302,163
$524,948
$452,724
72,224
$524,948
~0085n
~.
~-+ CITY OF ATLANTIC BEACff, FLORIDA
EMPLOYEES' RETIREDfENT SYSTEM
(CASH BASIS) _~
STATEDIENT OF CHANGES IN NET ASSETS AVAILABLE ~
SEPTEMBER 30, 1981 AND 1980 pp
O
O
C
1981 1980
General Policemen Firemen Total General Policemen Firemen otal
Reserve for Employer Contri-
butions
Balances at Beginningof
Years
4d~ons:
City Contribution
State Contribution
Transfer to Reserve for
Retiree Benefit Payments
Undistributed Current
Investment Income -
Balances
Balances at End of Years
.'.e serve for Retiree Benefit
Payments
Balances at Beginning of
Years
Transfers for Benefit of
Retirants, Per Actuaries
Recommendation
Interest at 6.5t on Mean
Balance (5.5$ in 1979)
Payments to Retirants and
Beneficiaries
3alances at End of Years
$211,8Q1 $ 149 713 $ 91,210 $452,724 $162,153 $ 124,730 $ 78,651 $365,534
101,123 0- 0- 101,123 69 539 -0- -0- 69,539
=0~1~,53 4,188 14,725 mob- ~0~33-~$'~ 14,611
-0- -0- -0- -0- (39,962) -0- -0- (39,962
31,974 18,887 11,370 62,231 20,071 14,248 8,683 43,002
$344,848 $ 179,137 $106,768 $630,803 $211,801 $ 149,713 $ 91,210 $452,724
$ 72,225 $ -0- $ -0- $ 72,225 $ 38,410 $ -0- $ -0- $ 38,410
-0- -0- -0- -0- 39,962 -0- -0- 39,962
4,199 -0- -0- 4,199 3,183 -0- -0- 3,183
(10,079) -0- -0- (10,079) (9,330) -0- -0- (9,330
$ 66,345 $ -0- $ -0- S 66,345 $ 72,225 $ -0- $ -0- $ 72,225
See notes to financial statements.
19
Tyson & Swindell, P.A.
Cert~edPublicAccountants
~ ~ ~ ~ ~ r• ~ ~ ~ r ~ ~ ~ ~ i ~ ~ ~ ~
CITY OF ATLANTIC BEACH, FLOP.I DA 20
EMPLOYEES' RETIREhfENT SYSTEh1
(CASH BASIS)
STATEMENT OF CHANGES IN FINANCIAL POSITION
SEPTEMBER 30, 1981 AND 1980
1981 1980
Resources at Beginning of Year
Equity in Pooled Cash at Beginning of Year $222,785 $125,793
Other Investments 302,163 278,151
Totals $5241946 $403,944
Sources of Funds
Earnings on Investments - Net S 66,431 $ 46,184
Contributions from City 101,123 69,539
Contributions from State of Florida 14,725 14,611
Totals 182,279 130,334
Uses of Funds
Payment of Pensions to Retirants 10,079 9,330
Net Increase in Resources 172,200 121,004
Total Resources at End of Year $657,148 $524,948
Summary of Changes in Resources
Equity in Pooled Cash $145,485 $ 96,992
Other Investments ~ 26,715 24,012
Net Increase in Resources $172,200 $121,004
See notes to financial statements.
20 000852
Tyson ~ swlrtaen, P.A.
Cert fledl'u6ticAccountents
CITY OF ATLANTIC BEACH, FLORIDA
OTHER TRUST AND AGENCY FUNDS
(CASH BASIS) _
STATEMENT OF FINANCIAL POSITION
AND RECEIPTS AND DISBURSEMENTS
SEPTEMBER 30, 1981 AND 1980
1981
' ours i Bow
Fund 1980
Financial Position
1 Resources:
Equity in Pooled Cash $15,224 $12,383
Fund Balances:
Restricted $15,224 $12,383
Receipts and Disbursements-
Receipts:
Net Increase in Outstanding Posted Bonds $ -0- $ -0-
' Court Costs Received 2,551 2,464
Interest Earned 1,943 1,393
' Totals
Disbursements: 4,494 3,857
Payments for Police Schools and Training 1,653 _1,080
' Excess of Receipts over Revenue 2,841 2,777
Cash Balance at October 1 12,363 9,606
' Cash Balance at September 30, 1981 $15,224 $12,383
See notes to financial statements.
21
' Tyson & Swinde/-, P.A.
Cert~ed Public Accountants
n0o853
21
CITY OF ATLANTIC BEACH, FLORIDA 22
STATEFfENT (JF GENERAL LONG-TERM DEBT
(CASH BASIS)
SEPTEMBER 30, 1481 AND 1980
1981 1980
' Amount Available and to be Provided
Amovnt Available in Debt Service Fund $ 56,479 $ 47,529
Amount to be Provided from Ad Valorem Taxes 440,521 481,471
Total Available and to be Provided $497,000 $529,000
General Long-term Debt
General Obligation Serial Bonds Payable:
1958 Issue
$130,000
$145,000
1971 Issue 367,000 384,000
' Total General Long-term Debt $497,000 $529,000
1
1
1
1
' See notes to financial statements. n ~ ~ s 5~~
22
Tyaon & Swindell, P.A.
Cert~ed Public Accountants
' CITY OF ATLANTIC BEACH, FLORIDA 23
ALL FUNDS
1 NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
1. Description of Funds and Summary of Significant Accounting Policies
• Description of Funds - The general goverment fund accounts for
all revenues and expenditures of the activities financed by such
revenues, which are not accounted for in other funds. The other
established funds or account groups are classified according to
the guidelines established by governmental accounting and finan-
cial reporting principles (Statement No. 1, November 1979) and the
uniform accounting system prescribed by the Department of Banking
and Finance, which was officially adopted by the City.
• Basis of Accounting - The cash basis of accounting is utilized
for accounting as well as budgeting.
• Inter-fund Transactions - Inter-fund transactions are not elimi-
nated and no interest is charged on inter-fund advances. All funds
participate in the "Pooled Cash Account" and interest earned on
resulting temporary cash investments is apportioned pro-rata on
the basis of average "Mean participating balances for each fiscal
year. (See note 2)
• General Fixed Asset Accounting - There are no formal accounting
records maintained by the City relating to general fixed assets
other than memorandum records.
• Commitments and Contingent Liabilities - The cost of sick leave
and vacation pay is recognized when actually disbursed to employees.
Accumulated unpaid amounts could not be determined due to existing
condition of personnel attendance and leave records. The City
Attorney has advised us that, in his opinion, possible contingent
liabilities on pending, but unsettled litigation would aggregate
not more than approximately $9,500.
Pooled Cash
During a prior year, the City combined substantially all of the
cash and temporary cash investments into a "Pooled Cash Fund" in
order to provide larger amounts for investing purposes to obtain
higher yields and also to reduce detailed administrative and
accounting procedures necessary to maintain numerous separate
accounts. The composition of the pooled cash funds as of September
30, 1981 and 1980 were as follows:
Cash Funds
Checking Accounts
Savings Accounts
Time Certificates
Average Dtean Balance for Year
Ended September 30, 1980
1981 1980
$'dD-6 $--'76b
(54,833) 15,105
41,727 86,787
1.056.193 836.238
$1,043,487 $938,830
$991,104 $999,315
23
Tyson & Swindell, P.A. n ~ ~ 85 r
Certified Pubfic.9ccountants
1
CITY OF ATLANTIC BEACH, FLORIDA 24
ALL FUNDS
NOTES TO FINANCIAL STATEMENTS
' SEPTEDIB ER 30, 1981
Earnings for Same Period f 134,911 $137,893
' Average Yield 13.6$ 13.8$
3. Ad Valorem Taxes
Both real and personal property taxes are collected by the conso-
lidated City of Jacksonville (Duval County). The Ad Valorem taxes
remitted by Jacksonville for the years ended September 30, 1981 and
' 1980 were as follows:
' Fund 1981 1980
G
l
enera
(350,323 $161,180
Debt Service (GOB) 60,873 62,578
Totals 5411,196 $243,758
4. General Long-term Debt
' The "Amount to be Provided from Ad Valorem Taxes" as shown on page
represents the amount by which the amount of principal remaining owed
on the bonds exceeds the amount available in the Debt Service Fund.
' The amount of interest to accrue over the life of the bonds must also
be provided for by ad valorem tax assessments. The total amount of
interest to accrue is reflected on page 27 as "Additional Information"
5. Proprietary Fund Operations
The City conducts the following activities of which the financial
' transactions are presented in a manner essentially like those of
similar commercial business organizations:
Water System Operations
' Sewer System Operations
Sanitation and Refuse Service
The water and sewer operations are both providing excess earnings
which are available for transfers to the general government operations
of the City. The sanitation operation is subsidized by revenues other
' than fees charged for the collection and disposal service. Since the
City does not have a system to allocate its overall administrative
or other applicable costs to the various funds, the results of opera-
tions of the enterprise operations do not reflect results had all
' applicable expenses been reflected.
' 6. Employees' Retirement System
The Cit
'
E
l
' R
ti
S
97
b
y
s
mp
oyees
e
rement
ystem was esta
lished in 1
6.
The system includes general employees as well as police and firemen.
The actuarial firm of Gabriel, Roeder, Smith $ Company are retained
' as continuing consultants for assistance in administering the plan.
' z4 ()OO85t~
Tyson & Swlnde-I, P.A.
Cert fed Pu61 is Accountants
CITY OF ATLANTIC BEACH, FLORIDA 25
ALL FUNDS
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
According to the latest actuary's report dated June 15, 1981, the
unfunded accrued service costs as of September 30, 1980 amounted
to $242,953.
' 7. Special Assessment Fund
The amounts formerly carried as assessments receivable resulting
from prior years tree removal, lot clearing and demolitions are no
longer considered as being materially valuable for presentation as
resources of the financial position of the City. Collections on
these assessments were nil for the past year and negligible for
the past several years and, consequently a 100$ valuation reserve
was previously established to properly value the worth of these
items.
' 8. Utility Revenue Bonds
During the month of September 1986, the City Commission authorized
' the amount of $42,135.00 to be deposited with the Trust Department
of the Atlantic National Bank of Jacksonville, Florida, as escrow
agent for purposes of paying the remaining outstanding serial matu-
rities due on the Utility Revenue Bonds issued as of March 1, 1955,
' as well as the interest to accrue. On October 2, 1980, the escrow
agent reported that substantially all of the funds had been invested
in United States Government Obligations that mature on dates corres-
' ponding with the dates of the maturities, which are March 1, 1981,
1982, and 1983.
The escrow agent estimates the earnings on the invested funds will
1 amount to $4,659.86, in excess of amounts necessary for payment of
the principal amounts as well as interest to accrue..
In our opinion, the above action constitutes a full advance defease-
ment of the outstanding liability on the bond issue. The unpaid
liability however, will continue to be carried on the fund statements,
and reduced as payments are made by the escrow agent.
' The maturities to be retired are as follows:
Interest
Pr~i n~ci~a~l at 3.5$ Total
March 1, 1982 ~ 13,000 ~~J~S"- $13?Sd3
March 1, 1983 14,000 490 14,490
Totals $ 27,000 $1,435 $28,435
The escrowed investments in the United States Government Obligations
are set forth below: Face
Due Date Amount Cost
U.S. Treasury 6.375$
' Notes 2-15-82 $15,000.00 514,109.38
U.S. Treasury 8$ Notes 2-15-83 14,000.00 12,950.00
Totals $29,000.00 $27,059.38
25
Tyaon & Swindell, P.A. p.b (/ ~ ~•1
Certified Public Accountants
CITY OF ATLAN'I'1C BEA(:I1, FLORIDA
ALI. FUNDS
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
26
9. Community Development Fund
During the year under review, the City was awarded a grant in the
aggregate amount of $465,000 from the U.S. Department of Housing
and Urban Development. Of the total grant available, $19b,000 is
to be expended on the rehabilitation of private properties, 315,000
on parks, playgrounds and other recreational facilities, $58,000
on street improvements, and 5174,000 on water and sewer facilities,
and the balance for the general administration of the grant.
10. Other Events
As a result of a Grand Jury investigation during the year under
review, several employees were indicted for alleged misuse of
City properties or funds. All cases under investigation have been
disposed of in the courts of this circuit. Those cases not involving
appellate review have completed restitution.
2 6 ~(~('/'~' ~1
& Swindell, Prl.
CITY OF ATLANTIC BEACH, FLORIDA
ALL FUNDS
1
J
ADDITIONAL INFORMATION
Our examination of the financial statements of the City of
Atlantic Beach, Florida, for the year ended September 30, 1981,
was intended primarily for the purpose of formulating an opinion
on the basic financial statements. The additional information
presented on the following pages has been taken from the accounting
records of the City and are not, in our opinion, necessary for fair
presentation of the City's financial position, results of operations
or changes in financial position. Such information had not been
subjected to tests and other auditing procedures sufficient to
enable us to express an opinion as to the fairness of all the
1 details included and, accordingly, we do not express or imply an
opinion on this information.
~~
Tyson & Swtndelt, P.A.
Cert fled Public Accountants
~0t~859
' CITY OF ATLANTIC BEACH, FLORIDA
GENERAL LONG-`fEfUl DEBT
' SEPTEMBER 30. 1981
' Year of Maturity
1982
1983
1984
1985
1986
1967
1988
1989
1990
1991
1992
' 1993
1994
1995
' Total Principal
Interest Rates
Total Interest to Accrue over remaining
life of debt
' Original Issue Amounts
' Assets Pledged -
1
1
1
1
Principal Amounts
27
General General
Obligation Obligation
Sewer Bonds Sewer Bonds
Issued 7-1-71 Issued 4-1-58
S 18,000 ~ 15,000
20,000 15,000
20,000 20,000
20,000 20,000
22,000 20,000
25,000 20,000
25,000 20,000
25,000 -0-
25,000 -0-
30,000 -0-
30,000 -0-
30,000 -0-
40,000 -0-
37,000 -0-
$367,000 =130,000
5.75$ 3.8$ to 3.9$
$190,195 ~ 20,725
(500,000 5300,000
Ad Valorem Ad Valorem
Tax - All Tax - All
Assessed Assessed
Property Property
27
' Tyson & Swtnde0, P.A.
Cerf~ed Public Accounfan is
~~3 +~~p
t
1
1
RESOURCES
Cash and Temporary Cash
Investments
Bond Retirement Escrow
Funds
Other Receivables - Net
Other Depreciable Assets
Accumulated Depreciation
Due from Other Funds
Investments
Amounts Available in
Debt Service Fund
Fuel Inventory
Amounts to be Provided
from Ad Valorem Taxes
Returned Checks on Nand
Escrow Punds
Total Resources
Due Other Funds
Customer Deposits
Bonds Payable
Funds Held for Others
Total Liabilities
FUND EQUITY
Contributed Capital
Retained Earnings:
Restricted
Unrestricted
Unreserved Fund Balances:
Reserved for Employees
Retirement System
Restricted
Unrestricted
Total Fund Equity
Total iL a iTb litter and
Fun gutty
CITY OF ATLANTIC BEACH, FLORIDA
(CASH BASIS)
COMBINED STATEMENT OF FINANCIAL POSITION
SEPTEMBER 30, 1981
28
Governmental Fund T es Proprietary Fiduciary Account Groups
Fe oral Special Fund Types Fund Ty pes G eneral G~ Totals
Revenue Debt Revenue ~i rement Fixed Long-term (Memorandum
General Sharing Service Fund Enterprise System Other Assets Debt Only)
$136,617 $ 83,196 $ 56,479 $ -0- $ 363,701 $ 368,270 $15,224 S -0- ~ $ -0- $ 1,043,487
-0- -0- -0- -0- 27,209 -0- -0- -0- -0- 27,209
-0- =0- -0- -0- 11,187 -0- -0- -0- -0- 11,187
-0- -0- -0- -0- 2,773,101 -0- ~ -0- -0- -0- 2,773,101
-0- -0- -0- -0- (91,242) -0- -0- -0- -0- (91,242)
9,004 -0- -0- -0- 3,428 -0- -0- -D- -0- 12,432
-0- -0- -0- -0- -0- 328,878 -0- -0- -0- 328,878
-0- -0- -0- -0- -0- -0- -0- -0- 56,479 56,479
6,887 -0- -0- -0- -0- -0- -0- -0- -0- 6,887
-0- -0- -0- -0- -0- -0- -G- -0- 440,521 440,521
57 -0- -0- -0- -0- ~ -0- -0- -0- -0- 57
5,000 -0- -0- -0- -0- -0- - -0- -0- -0- 5,000
$157,565 $ 83,196 $ 56,479 $ -0- $3,107,334 $ 697,148 $15,224 3 -G- $ 497,000 $ 4.613
996
,
$ 173 $ -0- $ -0- $ 9,004 $ -0- $ -0- $ -0- $ -0- $ -O- $ 9,177
-0- -D- -0- -0- 20,511 -0- -0- -0- 497,000 517,811
-0- -0- -0- -0- 27,000 -0- -0- -0- -O- 27,000
5,000 -0- -0- -0_ -0- _ -0~~ -0- _ -0- -0- 5,000
5,773 -0- -0- 9,004 47,611 -0- -0- -0- 497
000 558
988
_ _ , ,
-0- -0- -0- -0- 910,585 -0- -0- -0- -0- 910,535
-0- -0- -0- -0- 404,497 -0- -0- -0- -G- 404,497
-0- -0- -0- -0- 1,744,L91 -0- -0- -0- -0- 1,744,491
-0- -0- -0- -0- -0- 697,148 -0- -0- -0- 697,148
-0- 83,196 56,479 (9,004) -0- -0- 15,224 -0- -0- 145,895
152,392 -0- -0- -0- -0- _ -0- -0- -0- -0- 152,392
752,392 83,196 56,479 (9,004) 3,059,573 _ 697,148 15,224 -0- -0- 4,055,008
$157,565 $ 83,196 $ 56,479 $ -0- 13,107,384 $ 697,148 $15,224 S -0- $ 497,000 $ 4,613,996
28
Tyson & Swindell, PA.
Cen~ed PublicAccounfanfs
t
1
0008G( ~ '
t CITY OF ATLANTIC BEACH, FLORIDA 29
AUDITORS' COMMENTS AS REQUIRED UNDER RULES OF THE
' AUDITOR GENERAL - ANNUAL POST AUDIT REQUIREMENTS
OF MUNICIPALITIES
SEPTEMBER 30, 1981
1. There were no irregularities reported in the preceding annual financial
audit unless specific items mentioned in "recommendations" might be
classified under that term.
' 2. None of the recommendations made in the preceding or those repeated
from prior reports have been totally accomplished, except for (1)
action taken subsequent to end of the audit period to eliminate account-
' ing and reporting problems through acquisition of adequate computer
"software", and (2) an attempt has been made to incorporate employee
leave records with the computerized payroll system. The latter effort
cannot be considered as reliable due to lac Y. of adequate beginning data
' and total centralized control over employee attendance is accomplished.
The remaining items previously recommended on which no or very little
has been accomplished, pertain to the following general categories:
1 (a) General Fixed Asset Fund
(b) Enterprise Fund Depreciation Accounting
(c) Inventory Controls over Materials and Supplies
(d) Obtaining satisfactory utilization from the centralized
filing system, if possible.
3. Present recommendations, as stated in prior reports, are to attempt to
accomplish prior recommer.Jations as well as to comply with all of the
"Rules of the Auditor General" as revised on September 15, 1980.
Specifically we refer to adaptation of (1) a written plan or organize-
' Lion and (2) a manual of written policies and procedures covering all
phases of financial management.
4. As a result of a Grand Jury investigation during the year under review,
' several employees were indicted For alleged misuse of City properties
or funds. All cases under investigation have been disposed of in the
courts of this circuit. Those cases not involving appellate review
1 have completed restitution.
5. See 4 above.
' 6. See 2 above.
7, See 3 above.
' 8. See 2 and 4 above.
9. No defalcations were discovered by the auditor.
10. The financial report filed with the Department of Bankidg and Finance
persuant to Section 218.32, Florida Statutes, for the ~f fiscal year
' ended September 30, 1981, was substantially in agreement with the annual
financial audit report for the same period.
(~~
29 (~liL 4j~g
peon & Swlnde-(, P.A.
Certified PublicAccounrants
1
1
1
CITY OF ATLANTIC BEACH, FLORIDA
POOLED CASH FUND
(CASH BASIS)
SEPTEPIB ER 30, 1981 AND 1980
Cash Funds
Checking Accounts
Savings Accounts
Time Certificates of Deposit
Totals
General
Enterprise
Federal Revenue Sharing
Retirement System
Debt Service
Trust Funds
Totals
1,056,193 836,238
$1,043,487 $938,830
$ 136,617 $296,431
383,701 244,071
83,196 115,173
368,270 222,785
56,479 47,529
15.224 12.841
$1,043,467 $938,830
(100863.
30
Tyaon & Swlnde(l, P-A.
Certified Public Accountants
30
September 30,
1 1 1
RESOURCES
$ 400 $ 700
(54,833) 15,105
41,727 86,787
FUND EQUITIES