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Audit Report - 1971-1972i 1 1 1 1 1 i 1 1 1 1 f 1 1 1 1 TYSON, EVANS S SUMY.ERS Certified Public Accountants Jacksonville, Plozida 1 1 1 1 CITY OF ATLANTIC BEACH, FLORIDA AUDIT REPORT DECEMBER 31, 1972 TYSON, EVANS Q SUNMER$, CLRi1V16D PVBLIC ACCOVNIAIRB 1 1 1 CITY OF ATLANTIC BEACH, FIARIDA INDE% 1'O REPORT DECEMBER 31, 1972 Page Number Certificate Letter 1 General Fund 2 - 8 Water Accounts - Operations 9 - 12 Utility Revenue Bond Fund 13 - 14 Sewez Fund 15 - 17 Police Court Coet Fund 18 1972 General Obligation Sewer Bond Construction Account 19 - 21 1972 General Obligation Sewer Bond Sinking Fund 22 - 24 Auditors' Comments 26 - 26 SUNNERS. ceanneo euauc ACCOVNTARra TYHON. SVANB & 9GMMSRB. GHARTSRBD arannan evaLto wvvovavaxs uea arwca aovLevwan JAOGBOn VILL a. ILOIIOw al~a~ February 17, 1973 To The City Coamission City of Atlantic Beach, Florida Gentlemen: We have examined the financial statements of the vazious funds of the City of Atlantic Heach, Florida, as of December 31, 1972, and the related statements of cash transactions for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and included such tests of the accounting records and other auditing procedures as we considered necessary. In our opinion, the attached statements present fairly the finan- cial positions of the various funds of the City of Atlantic Beach, Florida at December 31, 1972, and the related cash transactions for the yeaz then ended, in conformity with generally accepted accounting prin- ciples applied on a consistent basis. The "Auditors' Cowsents" submitted herewith in compliance with Section 9, Chapter 71-218, Florida Statutes is not included within the above certification. kespectfully submitted, i~ C L~ F„ ti Pa~Ce 1 1 CITY OF ATLANTIC BEACH, FLORIDA GEC:ERAL FUND FINANCIAL POSITIOB DECEt1BER 31, 197? RESOURCES Cash on Nand and in Bank - Page 3 Savings Account - Jordan Utility Escrow Taxes Receivable - Page 4 Lot Clearing Liens Receivable - Page 9 Assessments for Demolition - 1968 TOTAL RESOURCES OBLIGATIONS AND FUCID BALANCES Obligations Utility Escrow Accounts $ 627 Total Obligations Fund Balances Reserve For Uncollected Resources 5 66,027 Restricted for Jail Renovation 4,675 Available for Appropriation 111,963 Total Fund Balances TCTAL OALIGATIONS ANU FUND BALAhC ES Page 2 $ 116,138 627 63,812 415 l,eoo $ 182,792 $ 627 S 182,165 $ 182,792 TYSON, RVANS & SUMMERS, CERTIPI6D PUBLIC ACCOUNTANTS CITY OF ATLANTIC BEACH, FLORIDA GENERAL PUND GSH RECEIPTS AND DISBURSEMENTS 1972 Cash Balance at January 1, 1972 Add: Revenue Receipts - Page 5 $ 542,211 Received from Developers for Paving, Drainage, and Sewer Lines, Selya Karim Unit 48 14,221 Transfer from Sewer Construction Fund for Prior Yeaza Obligation 24,277 Received from State of Florida foY Jail Renovation - Less amount ExpendedP 4,675 Total Caeh Available $ 713,792 SpS_iAd $ 699,176 Deduct: Temporary Loan to G.O. Sewer Bond Sinking Fund $ 100 Actual Expenditures - Page 8 582,938 $ 583,038 Cash Balance at December 31, 1972 $ 116,138 Composition of Cash Balance at December 31, 1972 Southeast First National Beach Bank Change and Petty Cash Punds Time Certificate - Southeast Firet Natioml Beach Bank TOTAL •Restricted Page 3 $ 90,875 263 25,000 EVANS & SUMMERS, C8RTP18D PUBLIC ACCOVNTAMTS CITY OF ATLANTIC BEACH, FLORIDA GENERAL FUND DECEMBER 31, 1972 TAXES RECENABLE REAL ESTATE Yeai Asse65ed 1972 1971 1970 1969 1968 1967 1966 1965 1964 1963 & Pzioz PERSONAL PROPERTY Yeaz Assessed 1972 1971 1970 1969 1968 TOTAL TAXEE RECEIVABLE S 36,660 5,760 3,608 3,076 2,930 2,060 1,938 2,531 396 1,883 S 60,842 J 1 _~i I S 1,956 243 214 276 281 $ 2,970 $ 63,812 i ),j LOT CLEARING LIENS RECEIVABLE Yeaz ABSessed 1972 1971 1970 1969 1968 1967 1966 $ 200 120 40 20 20 3 $ 12 5 415 Page 4 1 iJV N, G V ANJ 41 SUMtlEMS, CCBTIPIB V P VBLIC ACCOVNTANT9 i i 1 1 C ITi GF AT LAI:T IC BEACH, FIARIDA GENERAL FUND REVENUE RECEIPTS E51'IN.ATEO AND ACTUAL 1972 Account Estimated Actual 100 Ad valorem Revenue, City of Jacksonville I11 5 56,700 $ 23,532 101 i,d Valorem faxes - 1972 92,000 93.553 102 Ad Valorem Taxes - Prior 30,000 23,590 103 Personal Property Tax 6,000 7,834 104 Fines and Forfeitures 36,000 41,082 105 Permits 5,000 17,646 106 electrical Franchise 38,000 35,020 107 Garbage Collections 55,000 59,659 108 1961 Paving Assessments 100 -0- 309 Licenses 8,000 10,983 110 Penalties and Interest 1,000 ~ 466 111 t:iscellaneous Collections 2,500 2,763 112 Telephone Franchise 2,000 2,290 113 Radio Service - Neptune Beach 9,200 9,200 114 Lot Clearing 1,000 820 115 S. bt. Sewer Service Chazge 600 2,354 116 sewer Service Chazge 72,250 71,533 117 Royal Palms Certificate No. 3 3,500 6,539 121 Transfer from W.Odb. s R. Account 36,875 36,875 122 TYansfei from Water Revenue Account 90,000 92,828 123 Transfer from Unbudgeted Reserve 50,000 -0- 124 Life Guard Service 4,300 -0- 125 Police Reports 200 376 126 Secondary Road Fund Contract 8,000 8,373 127 Ambulance Service -0- -0- 128 Nouse Removal 500 395 Total S 603,725 5 542,211 ~l~Terminology used in budget. Page 5 TYSUN, EVANS h '~"MMERB, ceannro reeuc AccovnrenTs 1 1 1 1 1 1 CITY OF ATLANTIC BEACH, FLORIDA GENERAL FUND APPROPRIATIONS AND E%PENDITURES 1972 Account Appropria lions Expenditures ADMINISTRATION 201 Personnel $ 41,262 S 40.883 202-A Insurance - Building, Vehicles W/C, e tc. 15,500 13,465 202-B Insurance - Life and Hospitalization 6,847 6,847 203-A Office Supplies 4,074 4,074 203-8 Postage 1,351 1,351 203-C Maintenance, Office Machines 1,655 1,524 204 City Hall Maintenance 1,345 1,300 205 Audit 1,800 1,675 206 O A S I and Expense 15,366 15,366 207 Office Utilities 5,277 5,277 208 Assessor 250 250 209 Advertising 1,450 1,137 210 Commissioners' Fund 1,000 332 211 Election Expense 34 -0- 212 City Manager's Expense 850 834 213 Memberships 950 911 216 Professional Services - Codification 2,350 1,665 217 City Attorney 3,000 3,000 218 Commissioners' Salaries 600 600 220 House Removal 500 -0- 2-1002 Capital Appropriations 2,000 1,695 TOTAL ADMINISTRATION $ 107,961 $ 102,186 PUBLIC SAFETY 301 Personnel $ 123,510 $ 322,243 302 Uniforms 1,637 1,637 303-A Police Supplies 1,051 1,051 303-B Pire Supplies 800 789 306 Jail Meals and Supplies 1,529 1,529 307 utilities 3,672 3,672 308 Building Maintenance 1,000 946 309 Radio Repair 1,000 959 311 Nusane Society 900 900 312 School Crossing Guard 200 15 313 Office Supplies 700 655 314 Municipal Judge 1,200 1,200 315 Alternate Judge 500 500 5-1003 P. 6 F.D. - Capital 14,501 7,832 TOTAL PUBLIC SAFETY $ 152,200 $ 143,928 Page 6 TYSON, EVANS & SUMMERS, ceannviep eueLw AccouxrAxra CITY OF ATLANTIC BEACH, FLORIDA GENERAL PUND APPROPRIATIONS AND E%PENDITURES 1972 Account App ropriations Expenditures TRANSPORTATION 401 Personnel $ 7,570 $ 7,570 402 Gasoline 13,226 11,148 403 Oil and Grease 850 848 404 Pazts and Tires, Tolls, Mileage 13,641 13,641 405 Supplies 700 695 906 Shop Tools 600 593 TOTAL TRANSPORTATION $ 36,587 $ 34,495 SANITATION 501 Personnel $ 42,723 $ 42,723 502 Gazbage Disposal Landfill 7,566 7,566 503 Containers 5,149 5,107 504 Supplies 770 742 5-1005 Garbage Truck 17,400 17,339 TOTAL SANITATION $ 73,603 $ 73,472 LABOR 601 Personnel $ 72,935 $ 72,935 PUBLIC WORKS 701 Tools and Supplies $ 1,922 $ 1,776 702 Utilities 1,278 1,277 703 Equipment Maintenance 5,000 4,872 704 Beach and Street Ends 1,830 1,828 705 Drainage 6,800 6,776 707- A Street Lights 6,359 5,573 707- B Lights - Atlantic Blvd. s Mayport Rd. 7,527 7,527 709 Street Maintenance S General Street Imp. 8,250 8,237 711 Street Signs 550 516 712 Building Maintenance 1,003 1,003 713 Sidewalks and Gutters 5,765 5,765 714 Schools, Training, etc. 900 737 7-1007 Trucks 4,100 3.950 TOTAL PUBLIC tiORKS $ 51,284 $ 49,837 Page 7 SUMMERS. CP.0.TIili.D PUBLIC AGCOUNTANTB CITY OF ATLANTIC BEACH, FLORIDA GENERAL FUND APPROPRIATIONS AND EXPENDITURES 1972 Account SEWER DEPARTMENT 801 Repairs and Replacements 802 Plant Maintenance 803 Utilities 804 Chlorine and Chemicals 805 Supplies 806 Tools 827 Transfer to Sewer Fund Certificate No. 3 828 Transfer to S. M. Sewer Fund 829 Transfers to Sewer Fund 6 1971 G.O. Sewer Bond Sinking Fund TOTAL SEWER DEPARTMENT PARKS A[ID RECREATION Appropriation8 Expenditures $ 4,500 $ 4,417 1,000 900 4,800 4,705 5,000 4,409 300 250 100 69 1,500 2,615 600 2,359 53,300 53,300 $ 71,100 $ 73,019 901 Personnel $ 12,980 $ 12,373 903 Tools and Supplies 150 16 904 Recreation taintenance 9,200 9,189 905 Park Lighting 1,$00 1,237 906 Cortmmni ty School Program 6,900 6,896 9-1012 Park Imp. and New Land, Professional Svcs. 8,875 8,355 TOTAL PARKS AND RECREATION $ 39,105 $ 33,066 1051 FlIERGENCY E%PENSE FDND $ 1,950 $ -0- GRAND TOTAL - ALJ, DEPARTMBNTS $ 603,725 $ 582,938 Page 8 EVANS & SUMMERS. ceanv7ep f f 1 1 w CITY OF ATLANTIC REACH, FLORIDA WATER ACCOUNTS ' OPERATIONS FINANCIAL POSITION DECEFHiER 31, 1972 RESOURCES Cash in Hank - Page 10 FUND BALANCES Water Revenue Account (1) Water Operation6, Maintenance and Repair Account I1) Wa tez System Renewal dnd Replacement Fund TCffAL PUND BALANCER ~1~AVailable for transfer to Genetal Fund Page 9 $ 92,986 S 63,877 135 28,979 $ 92,986 CITY OF ATLANTIC BEACH, FLORIDA WATER ACCWNTS - OPERATIONS CASH RECEIPTS A!ID DISBURSEMENTS 1972 Cash Balance at January 1, 1972 $ 53,557 Add: Revenue Receipts - Page 11 $ 250,485 Lees - Actual Cash Balance (Water Revenue Account) 35,665 $ 214,820 Interest Earned 897 215,717 Total Cash Available $ 269,274 Deduct: Actual Expenditures - Page 12 Less - Inter-Puna Transfer Cash Balance at December 31, 1972 Composition of Cash Balance at December 31, 1972 Atlantic National Bank Checking Accounts: Water Revenue Account Water Operations, Maintenance aMl Repair Account Water System Renewal and Replacement Pund Time Certificates: Water System Renewal and Replacement Pund Total Page_30 $ 186,608 10,320 176,288 $ 92,986 $ 63,877 135 10,522 18,452 $ 92,986 EVANS & SUMMERS. caane~en eueuc Accovxmxrs CITY OF ATLANTIC BEACH, FLOAI DA WATER ACCOUNTS - OPERATIONS REVENUE RECEIPTS ESTIMATE[) AND ACTUAL 1972 Account Estimated Actual 1101 Minimum Water Chazges $ 45,000 S 46,139 1102 Excess Water Charges 12,500 19,391 1103 Cut-In Charges 7,000 13,790 1104 Service Charges 500 496 1105 Cigarette Tax 60,000 73,389 1106 Utility Tax 52,000 60,BBd 1107 Beginning Aalance 10,000 35,665 1108 Transfer from General Fund -0- 28A 1109 Miscellaneous - Water Lines -0- 497 TOTALS 5 187,000 $ 250,485 Page 11 EVANS&SUMMERS. eeenrLen eueuc eceouxreHrs CITY OF ATLANTIC BEACH, FLORIDA WATER ACCWNTS - OPHFNTIONS APPROPRIATIONS AND E%PENDI'NRES 1972 Account Appropriations 8xpenditures OPERATIONS, MAINTENANCE, ANO REPAIRS INDIRECT COSTS - PAID TO GENERAL FUND 1902 Administration $ 10,000 $ 10,000 1403 Transportation 4,375 4,375 1409 Lahor 17,500 17,500 1406 Capital 5,000 5,000 TOTAL $ 36,875 $ 36,875 DIRECT COSTS 1411 Repairs and Replacements $ 11,500 $ 7,922 1412 Tank Maintenance 500 70 1413 Utilities 6,000 6,318 1414 Chemicals 1,500 1,801 1415 Building Maintenance 500 506 1430 Miscellaneous 500 493 TOTAL $ 20,500 $ 17,110 RENEWAL AND REPLACEMENT FUND 1501 New Mains, Meters, Services $ 14,000 S 14,266 1502 Water Reservoir 500 485 1503 Emergency Water Plant 500 420 TOTAL $ 15,000 $ 15,171 FU!'D TRANSPERS AND OTHER 1221 Revenue Bond Fund - Bond Principal, for 1973 $ 10,000 $ 10,000 1221 Bond Interest and Paying Aqen! Charges (1973) 4,305 4,304 1242 Tb General Pund 90,000 92,828 1291 Trf. to Water System, Ren, and Aep. 10,320 10,320 TOTAL $ 114,625 $ 117,452 GRAND TOTAL $ 187,000 $ 186,608 Paae 12 SUMMHRS. CBRTI IICp PUBLIC ACCOUNTANTS CITY OF ATLANTIC BEACH, FLORIDA UTILITY REVENUE BOND FUND FINANCIAL POSITION DECEMBER 31, 1972 RESOURCES Casb in Atlantic National Bank - Faga 19 Fixed Assets - Water System Water System Constructed since May, 1958 from proceeds of bond issue - Cost New Water Mains, Service and Meters added from Revenue of System - Cost (l) TOTAL RESOURCES $ 238,828 S 38,826 214,231 953,059 S 991,885 OBLIGATIONS ANp FUND BALANCES Obligations Utility Revenue Bonds Payable $ 127,000 Certificates of Indebtedness Payable Selva Marina Realty Company No. 2 4,700 Total Obligations Fund Balances Investment in Water System $ 321,358 Accumulated Interest Earned on Investments 10,277 Restricted for Debt Service 28,550 Total Fund Balances TOTAL OBLIGATIONS AND FUND BALANCES ~1~$19,266 added during 1972 Pa_ qe 13 $ 131,700 360,185 $ 491,885 ceanv~eo eueuc Accovxrasrs C ZTY OF ATLANTIC BEACN, PIARIDA UTILITY REVENUE BOND PUND CASN RECEIPTS AND DISBURSEMENTS 1972 Cash Balance at January 1, 1972 $ 36,372 Add: Transfers from Water P.eyenue Account S 14,304 Interest on Sayings (added to time certificate balance) 1,788 16,092 Total Cash Available $ 52,464 Deduct: Bond Principal Paid S 9,000 Interest and Paying Agent's Pees 4,638 13,638 Cash balance at December 31, 1972 S 38,826 Composition of Caeh Balance at December 31, 1972 Atlantic National Hank Checking Account S 2,185 Time Certificate 36,641 Total S 38,826 Pave 14 ceanneo eueuc 4ccovMrnate CITY OF ATIA NTIC BEACH, FLORIDA SEWER FUND FINANCIAL POSITION DEC'FMBER 31, 1972 RESOURCES Cash in Banks - Page 16 $ 5,079 Uncollected Sewer Assessments 20,082 Note Receivable- Fecan Grove Apartments 11,831 Sexer Construction Costs (l) 716,718 TOTAL RESOURCES $753,710 OBLIGATIONS Ala PUND BALANCES Obligations General Obligation Bonds Payable (Issued, April 1, 1958) $ 230,000 Certificates of Indebtedness Payable Selva Farina Realty Co. No. 1 15,652 Interstate Contracting Company No. 3 7,732 Total Obligations $253,384 Fund Balances - By Source Government Grant $ 67,094 Special Assessments 338,6X4 Revolving Fund 94,548 Total Fund Balances $500,326 TOTAL OBLIGATIONS AND FUND BAIANCEB 5753,710 (1)DOes not include costs incucred in 1971 General Obligation Sexer Bond COnatruc Lion Account Paae 15 'Py$I1N, EV AN$ & 517MA)EH$. CCNTI PI I,D PUBLIC ACCOVNTANTB C1 T'f ~f APrpRTLC BEACN, FIgRIDA ~EKl:R FI1ND CASN RECE [PTS AND DISBURSEFIENTS 1972 Cash Nalance at January 1, 1971 $ 17,060 Add: Budgeted Revenue Receipts $ 31,061 Less: Beginning Cash Balance Included 17,060 14,001 Transferred from 1971 General Obligation Sewer Board Fund 2,097 Transferred from General Fund for Payment Certificate of Indebtedness, Selva Marina Realty Company (NO. 1) 2,354 Received for Selva Marina Unit MB for Construction 19,070 Amount of Principal Collected on Pecan Grove Apaztment Project 1,129 Total Cash Available $ 55,711 Deduct: Actual Appropriated Expenditures $ 30,947 Payment on Certificate of Indebtedness 2,354 Selva Marina Realty (NO. 1) Amount Deducted for Selva Marina Unit YB 17,331 50,632 Cash Balance at Uecember 31. 1972 $ 5,079 Composition of Cash Balance at December 31, 1972 The Ocean State Bank - Checking Account $ 1,825 Southeast First National Beach Bank - Selva Marina Sewer Fund 1,744 The ocean State Bank - Certificates of Oepoait 1,510 Total $ 5,079 Yage 16 CH0.TIIiHD PUBLIC ACCOUNTANTH i 1 i 1 1 i t CITY OF ATLANTIC REACH, FLORIDA SEWER FO NO REVENUES AtSI EXPENDITURES 1972 Estitrta ted Actual REVENUES Beginning Cash Balance Special Sewez Assessments Interest and Miscellaneous Collections Transfer from General Fund TOTAL $ 20,000 1,000 1,000 53,300 $ 17,060 2,727 1,274 10,000 EXPENDITURES Plans for New Sewer Plant Bond Principal Bond Interest and Bank Chazges Sewer Construction TOTAL $ 75,300 $ 1,000 20,000 40,600 13,700 $ 75,300 Page 17 EVANS& PVBWCACCOVNTANTB $ 31,061 $ -0- 10,000 9,076 11,871 $ 30,947 CITY OF ATLANTIC REACH, FLORIDA POLICE COURT COST FUND FINANCIAL POSITION DECEMBER 31, 1972 RESOURCES Cash in Bank (eer Be1ow)* S 2,642 TOTAL RESWRCES S 2,642 FUND BALANCE Restricted Balance S 2,642 CASH RECEIPTS AND DIS&1RSENENTS 1972 Cash Balance at 3anuaxy 1, 1972 S 2,313 Add: Court Coata 2,410 Total Cash Available S 4,723 Deduct: Remittances to State of Florida $ 1,205 Schools and Training H76 2,081 Cash Balance at December 31, 1972 S 2,642 *SOUtheast Fix at National Beach Bank Page 1H CCaTIPIED PUBLIC ACCOVNTANTB t 1 1 1 CITY OF ATLANTIC BEACH, FIgRIDA 1971 GENERAL OBLIGATION BOND CONSTRUCTION ACCOUNT FINANCIAL POSITION DECEMBER 31, 1972 RESOURCES Cash in Bank Costs Incurred - Statement 21 Total Resources OBLIGATIONS AND FUND BALANCE Due -Reliance Insurance Company Fund Balance Total Obligations and Fund Balance Page 19 ceanneo rusuc AccovxrAxra $ 140,072 383,711 $ 523,783 49,191 474,592 $ 523,763 CITY OF ATLANTIC BEACN, FLORIDA 1971 GENERAL OBLIGATION SSWI:R 80ND CONSTRUCTION ACCOUNT CASH RDCEIPTS AND DISBURSEMENTS 1972 Cash Balance at lanuazy 1, 1972 Add-Aeceipta: Proceeds from redemption of Treasury Bills including interest in the amount of $11,197. Interest on Time Certif icatee of Deposit Temporary Loan from General Fund Total Cash Available Deduct-Expenditure8 Construction Engineering Fees Miscellaneous Costs Transfer to Other Funds in repayment of prior obligations Transfer to Sinking Fund fox Payment of interest Current Interest transferred to Sinking Pund Cash Balance at December 31, 1972 Composition of Cash Balance: Southeast Fix et National Beach Hank - Checking Acct. Southeast Pirat National Beach Bank - Time Certificates of Deposit TOTAL S 50,777 5 375,000 1,406 100 376,506 S 427,283 S 225,283 729 1,599 38,773 16,226 4,601 287,211 5 140,072 S 72 140,000 $ 140,072 Page 20 TYSON ACCOUBTAXTB CITY OF ATLANTIC BEACH, FLORIDA 1971 GENERAL OBLIGATION SEWER BOND CONSTRUCTION ACCOUNT STATEMENT OF COSTS INCURRED THROUGH DECEMBER 31, 1972 Incurred in Pe id in Obligated Total Coats 1972 1972 A6 of 12/31/72 Incurred Bond Ieeue Costs $ 15,106 $ -O- $ -0- S 15,106 Engineering Pees 19,802 729 -0- 20,531 Construction 72,000 225,284 49,191 396,475 Miscellaneous Coats -0- 1,599 -0- 1,599 TOTAL $ 106,908 $227,612 $49,191 $ 383,711 Pege 21 TYSON, BVANR d[ SUMMERS, C6aTIilED PUBLIC ACCOUNTANTa CITY OF ATLANTIC BEACN, FLORIDA 1971 GENERAL OBLIGATION SEWER BOND SINKING FUND FINANCIAL POSITION DECEMBER 31, 1972 RESWRCES Caeb in Bank Amount to be Provided by Ad Valorem Taxes for Retirement of Gonda (Principal) Total ReBOUroea LIABILITIES AND FUND BAIANCE Accrued Interest due January 1, 1973 Bonds Payable (Pa9e 23) Total Liabilitles Fund Balance Total Liabilities and Fund Balance Pa9e 22 $ 33,614 500,000 S 533,614 $ 16,226 500,000 S 516,226 17,388 $ 533,614 C0.0.TII8D PUBLIC ACCOVNIANTB 1 CITY OP ATLANTIC BEACH, PIARIDA 1971 GENERAL OBLIGATION SEWE[t BOND SINKING FUND BONDS PAYABLE DECF1~NiER 31, 1972 58RIAL NUMBERS MATURITY DATES SALE PRICE (1) DISCOUNT TOTAL (2) 1- 20 July 1, 1973 $ 19,530 $ 370 $ 20,000 21- 32 July 1, 1974 11,778 222 12,000 33- 44 July 1, 1975 11,778 222 12,000 45- 56 July 1, 1976 11,778 222 12,000 57- 70 July 1, 1977 13,741 259 14,000 71- 85 July 1, 1978 14,722 278 15,000 86-100 July 1, 1979 14,722 278 15,000 101-116 July 1, 1980 15,704 296 16,000 117-133 July 1, 1981 16,685 315 17,000 134-151 July 1, 1982 17,667 333 18,000 152-171 July 1, 1983 19,630 370 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 25,000 259-283 July 1, 1988 24,538 462 25,000 284-308 July 1, 1989 24,538 462 25,000 309-333 July 1, 1990 29,538 462 25,000 334-363 July 1, 1991 29,445 555 30,000 364-393 July 1, 1992 29,445 555 30,000 394-423 July 1, 1993 29,445 555 30,000 424-463 July 1, 1994 39,260 740 40,000 469-500 July 1, 1995 36,315 685 37,000 TOTALS $ 490,750 L1) $ 9,250 $ 500,000 (2~ (1~Thie amount plus accrued interest in the amount of $3,064.96, deposited in Construction Pund in 1 971 . ~2~DOee not include inter est which will accrue over the life of hoods amounting to $478,110. Page 23 (YSON, EVANS & SUMMERS. ceanr~eo eusuc wccouNrwwn t 1 1 1 1 CITY OF ATIANTZC BEACH, FLORIDA 1971 GENERAL OBLIGATION HE{JRR BOND SI NICING FUND CASH RECEIPTS AND DSSBURSEC;F.NTS 1972 Cash Balance at January 1, 1972 Receipts: Transferred from General Fund for prior year's obligation 5 3,828 Other Transfers from General Fund 39,472 Transferred from Construction Fund 17,000 Interest on Investments 5,767 Total Cash Available Disbursements: Bond Interest Paid Cash Balance at December 31, 1972 Composition of Cash Balance at December 31, 1972 Southeast First National Beach Hank - Checking Acct. Time Certificate of Deposit, Southeast Pixst National Beach Bank TOTAL Page 24 None 5 66,067 $ 32,953 $ 33,614 $ 114 33,500 $ 33,619 EVANS & AVDITORS' C0.MMENTS II The following cm:ments are submitted in the specified sequence ae required by Section 4, Chapter 71-21&, Florida Statutes: A. There were no irregularities repor tc-d in the ' preceeding annual poet audit. 8. It appears that consideration and remedial action was undertaken covering all recommendatzons made in ' the preceeding annual post audit except for item 0.2 relative to possible sale of tax certificates: we intend to write a separate letter further elaborating ' on this item which we feel is of considerable impor- tance. C. The following recommendations are submitted for your consideration: 1. It is suggested that at the clone of each ' accounting year, all books zn possession of the police department containing unissued tickets be turned in to the City Treasurer and new books ' be issued. Any unissued tickets can be re-issued at a later date. The purpose of this ie to faci- litate the accounting for all pre-numbered tickets ' issued during the year. 2. Aad itional care should be exercised in classi- fication between capital and expendable items. It appears that better control can be obtained through budgeting processes rather than accounting decisions. It is necessary that this be done in ' order [o insure the success of the newly installed property record system through dollar controls as well as physical. We further recommend that serious consideration be given to establishment ' of a formal "Property Fund" to complete the account- ing for the City's Fixed Assets now that the afore ' mentioned property record system ie in use. D. 6 E. To the best of our knowledge there were no illegal or improper expenditures made during the year, nor was there any violation 1 of laws which could be determined within the ability of an independent auditor to make such determination. 1 TYSON, FVANS L SUMNBAS, cssnr:su rusuc AccovarAwrs F. See C. 2 above. G. We Found no evidence of failure to comply with accounting pro- cedures previously adopted. x. The only instances of vaziations in properly recording trane- ac[ione were directly related to ouc Coaments in C.2 above. I. There were no shortages discovered by the current year audit. Pace 26 _ _ TYSON, BVANS h BUMM6N8, ceanneo tuauc acoomrrawr.