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Audit Report - 1991-19921~~e~ Cepu4- CITY OF ~stie ~eacl - ~~ FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT SEPTEMBER 30, 1992 FIDUCIARY FUNDS Fiduciary fords are used to account for assns held by the Ciry in a trustee capacity or as an agent for ' indiwiduals, private organizations, other governments, and/or other funds. e i 0 i t FINANCIAL, STATEMHVTS AND INDEPENDENT AUDITORS' REPORTS 1 t CITY OF ATLANTIC BEACH ATLANTIC BEACH, FLORQtA SEI'1'EhffiER 30, 1992 FINANCIAL STATEIIIENTS AND INDEPENDENT AUDITORS' REPORTS CITY OF ATLANTIC BEACH ATLANTIC BEACH, FLORIBA SEPTEMBER 30, 1992 CON'fEN'fS Page Independent Auditors' Report 1 Genera! Purpose Financial Statements Combined Balance Sheet -All Fund Types and Account Groups 2d Combined Staternent of Revenues, Expenditures and Changes in Fund Balances -All Governmental Fund Types and Expendable Tmst Funds 5 Combined Statement of Revenues, Expenditures and Changes in Fund Balances -Budget and Actual -All Governmental Fund Types 6-7 Combined Statement of Revenues, Expenses and Changes in Retained Earnings/Fund Balances - A11 Proprietary Fund Types and Pension Tmst Fund 8-9 Combined Statement of Cash Flows -Proprietary Fund Types -Enterprise 10.1 ] Notes to Financial Statements 12-32 Combining and Individual Fmd Statements and SrLedWe General Fmd Schedule of Expenditures -Budget and Actual 33-35 Spe4lial Revenue Fmds Cembining Balance Sheet 36 Combining Statement of Revenue, Expenditures and Changes in Fund Balances 37 Capital Projects Fmds Combining Balance Sheet 38 Combining Statement o! Revenue, Expenditures and Changes in Fund Balances 39 FINANCIAL. STATEMENTS AND INDEPENDENT AUDITORS' REPORTS CITY OF ATLANTIC BEACH ATLANTIC BEACN, FLORIDA SEPTEMBER 30, 1992 Combining and Individual Ford Statements and Schedule (Cortc(uded) Enterprise Fords -Proprietary Fund Types Combining Balance Sheet Combining Statement of Revenues, Expenses and Changes in Retained Earnings Combining Statement of Cash Flows Fiduciary Funds Combining Balance Sheet Statistical Section Nnaudited) Pension Revermes By Source and Expenses By Type Computed Pension Contribution Comparative Schedule Analysis of Pension Funding Progress Additional Elements of Report Prepared in Aceordance With Government Auditng Standards, Issued By the Comptroller General of the United States, and the Rules of the Auditor General of the State of Florida Independent Auditors' Report on Schedule of Federal and State Financial Assistance Schedule of Federal and State Financial Assistance Independent Auditors' Report on Compliance With laws and Regulatioas Based on m Audlt of General Purpose Financial Statements Performed in Aceordance WiW Government Auditing Standards FINANCIAL. STATEMENTS AND INDEPENDENT AUDITORS'RRPORTS CITY OF ATLANTIC BEACH ATLANTIC BEACH, FLORIDA SEPTEMBER 30, 1992 colvTEN~rs (Concluded) Additioml FJemenfs of Report Prepared in Accordance WiW Government Auditing Standards, Issued By the Comptroller General of the Uoted States, and the Riles of the Auditor General of the State of Florida (Concluded) Independent Auditors' Report on Compliance With Isws and Regulations Based on the Report on the Schedule of Slate Financial Acacfnruw Performed to Aceordaoce With Government Auditing Standards Independent Auditors' Report on Internal Control Strndure Related 1lfetters Noted in a General Purpose Financal Statement Audit Conduded in Accordance With Government Auditing Standards, and Management Letter Page 55 56-59 G ~Y ~ Comps 1 ' WDEPENDENT AUDITORS' REPORT Honorable Mayor, City Commission and Ciry Manager City of Atlantic Beach Atlamic Beach, Florida We have audited the accompanying general purpose financial statements of the City of Atlantic Beach. Florida az of September 30, t992, and for the year then ended, az listed in the accompanying table of contents. These general purpou financial statements are the responsibility of the City's management. ' Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reaoonable azsurance about whether the general purpose financial ' statements are free of material misstatement. An audit includes examining, on a test basis, evidence supposing the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by managemem, az well az evaluating the overall general purpose financial statement presentation. We believe that our audit ' provides a reasonable bazis for our opinion. In our opinion, the general purpose financial statements referred to in the first paragraph present fairly. ' in all material respects, the financial position of the City of Atlantic Beach, Florida az of September 30. 1992, and the results of its operations and the rash Boas of its proprietary fund types for the year then ended in confomuty with generally accepted accounting principles. ' Our audit waz conducted for the purpose of fomdng an opinion on the general purpose financial statements taken az a whole. The combining and individual fund financial statements and schedules listed ' in the table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such information, except the portion marked "unaudited." on which we express no opinion, haz been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respects when considered in relation to the general purpose financial statements taken az a whole. ' March 18, 1993 /~/~yy~~77 ' Gainesville, Florida X~~~ ~~ l7i1lLL~ ~~ /'- -,/ ' Certified Public Accountants ' VU. tlnx 239'19 • 221 k.F. I sl Street • Gainesville. Flouda 32602 • 191H1 ll8~2J61 t.mrcl R,dge Vruiessronal Center • 2347 S.E. 171h Sveel • (Bala. Florida 74471 • 19041 772dAi2 tali Rcdmonl Drire. East 5oile Z • Tallahassee, Florida 32312 • HDL 3Ai~0iiJ .~~91 C.~,R a i,N~i in i~tlntilF5 ~M 11in1iiV It BiY Y _ ~.15 ' ~~!+!AiMr•n'niCY~~i~1l.ll ~l r,lt141ii:F[ivLEIN n[t[hula.l,Pa.."r((~lav"~i51\;,tIr PFVIMI4<rrN! GENERAL PURPOSE FINANCIAL STATEMENTS ' These basic statements provide a sunvnary overview of the financial position of all funds and account groups, az well az the operating results of all funds and cash flows of the Proprietary Fund Type. They also serve az an introduction to and summary of the more detailed statements included in the accompanying information section. 1 COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1992 C[TY OF ATLANTIC BEACH, FLORIDA GorervIDevml Fuvd TYPes Sperial Ikbl General Revenue Servke Flducmry Fmld Types Proprlemry Trust Capital Frmd Types and Projects Fisterprbe Agency Aceovnt Croups General Genets I.ovg-Term Paed Obligations Asxts Tomb (Memorandum Duty) 1992 1991 AxN Cash and Cash Fquiralrnss f 654.618 f 40?,062 S 43,503 S 81,3]0 f 2,]10,5]7 f IB],2I6 S 4,082,152 S 4,273.85] Invessmenn 1.601761 J.601,]6l 2,%7.170 Cash in Escrow 0 M,683 Accoums Receirabk 192,3]6 153,21] 643.5% 558.T10 fpxial Asxssmcm Rcccirabk - CurrtM 69.81 69,]51 31.6'lU Odvr Racivabks 0 10,6]6 Invcmnrics 43.16] 48.629 91.991 116,369 Duc Fmm Older Govermncrm 111,169 71,969 14,608 181,]46 121,481 We Fmm Orher Fulls 6.260 6.2eO Sd,36] Dcposib 4,981 4,%] SOLO Prtpid Espcnxs 83 g5 p Odxr Cumm ASxn 66,61] 66,61] 16.841 RcsrricrW Asxu: Cash all CasM1 Equivilcnts 1,]18,602 1,]48.602 2,159.201 Cash M Exmw and Wirh Fiscal AgeMS 415,905 M3.905 435,361 Special AucvmcN RccciraSk~tosg-TCSm 890,]42 890,]42 982.912 Consirvcrion in Pmdras 630.038 6X1,038 2K.305 Pmpeny, %aM asd Fquipnem-Ne1 15.380.444 S O,Ta1,%9 20,158,763 19,401.40! InnngiMc Asx1- Rifts m Fumrt Rcrnnes- Nc1 141,bL6 IdL666 211,66] Amwm Arailabk in ar DcM Scrvkc Full For Aymcm of lang~ienn ncb S OO,IJ] 40,13] N.440 Amum m lc ProridW For PaYmcm of Inng~TCrm Ckb 7.693,182 3p93,182 1,013.211 Amovm 1o be PmvidW For Paymcm of Iung~Tcrm Ponbn of Cosnpcnvlcd Ahxnccs 161.5]9 161.519 145,601 TMaI Assets f l U32,692 S 4q.051 f 41.501 f 81.3]0 f 22.581,01] S 7799.079 S 3.694,8% S 4,]1],%9 S 36.H1.509 f 75.6]5.018 See accompanying notes 2 CORRECTION THIS DOCUMENT HAS BEEN REMICROFILMED TO ASSURE LEGIBILITY .P'~';. ii ii ~:i~dr ~,~ COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1992 CITY OF ATLANTIC BEACH, FLORIDA Assets Cash artl Cash Equivalcros Invesvncnn Cash in Eumw Accounn Raeiva6k Spaial Assessmcm Raciva6k - CY(RM Orher Reuivabks Inv[Mar1e3 Uue From Onc~r Cuvcmmcros Due Fmm Odrr Funs Dcposi0 PRpaid Expenses 00Rr CuRCM Asscu Rcs0icud Asuu: Cash aM Cash EquiraleMs Cad( in F4cmw artl Wish Fixal Agenn Special AsseumeM Reuivabk-larg-Term COIWN( (m In PNgRb Pmpcrry. R]M arq FquipMM- Ncs Inengiblc Aver - Righs b FuNR Revenues - Na Amwm Avaihble in dr Dep Service Fusd For Hymen( of Inng-Term fhb AmMSnI so be Pmri1N For HymcM of Lorg-Term Deb Ammnr so be Pmridcd For Paymcm or lnng~Tcrm Portion of Compenuled AhscM<s Trial Assets F'Mociary Fund Types Account Crwpa Gcvemnreolal Fund Types Proprklary Trent Generel Ge0en1 Tolab Special Debt Capital Fund Type end Long-Term Fued (h5emornndum Dnly) General Revrnue 2krvice ProjecLC Fnterprlse Ageney 1361igalbru Assets 5992 5995 S 654,648 f 403,082 f 03.507 f 81,3]0 f 2,710.5]] S IB],z]6 S 9,083,052 f 0,271.85] 7.601,]63 3.6A1.]61 1,983,130 0 44,683 192.T6 053,21] 615.591 558,710 09?51 19,]51 31,670 0 10.676 O1.16] /B,B24 91,991 116369 111.169 7].969 10,608 183,706 127.483 6,2M 6.260 5436] 0.98) 0.987 5.000 85 BS 0 66.64] 66.61] 18.841 1 ?18.602 1,]48,602 2,139.202 045.903 N5.905 433,761 890.]42 890,]02 982.912 610,038 630,078 236,305 15,380,444 f O,TI],9J9 20,158,383 19.001.007 NL666 101,666 211,66] f 60.13] 40,13] 74,410 3.49],182 3.493,162 4,913,27] 161.519 161.3]9 145.601 i 1,012,691 S 441.051 f 41.503 f 81.3]0 S z2,381.Ot] S 3,189,079 f 3.694.998 S O.T11,9J9 f 76.411,5(19 f 33.85.018 See accompanying rates. 2 i 1 1 1 ' GENERAL PURPOSE FINANCIAL STATEMENTS ' These bazic statemenu provide a summary overview of the financial position of all funds and account groups, az well as the operating resulu of all funds and cash Flows of the Proprietary Fund Type, They ' also serve as an introduction to and summary of the more detailed statements included in the aceompanying information section. 1 1 1 1 ~ ~ ~ ~ O ~ ! ~ O ~ r ~ ~ ~ ~ ® ~ ~ COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1992 CITY OF ATLANTIC BEACH, FI.ORtflA (Continued) IlabBRks ertl Find Pgtlly WbSab Azco9nn AYabk sad Ausued t.ubilisks Due b ONCr Fulls Cumd Wbilisks (hyabk Fmm Rcnnzkd Asxu/: Rncrex Binds Payahk Naas Payable -Gulf Braze Accrued ImcrtY Payable Rcrnne fiords Payable Ocposin Dcrcrrtd Compemation Delcrrtd Rcrcmc kvulimcm all luax Obliyiinns Gcnen106ligauon Bolls Nous Payable ~ Gulf Bruin AusuW Compcwkd Fbxrces -lung-TCrm Tolai Lla60Rb Fiducbuy Fwd Types Aczrount Groups GovemmenW Fund Types Proprklary Trust General Geuenl Totab SpecW Debt CapiWi Fund Types and Long-Term Pacd (Memorandum Only) General Revenue Servke Projects Fnterpr'se Agency Obligations Aveb 1992 1991 S 161,822 5 d31 S ],]66 S 13,93] S 592,613 S 68 f 7]2.263 S ]65]60 6,260 6,260 31,M] 4,981 12,281 166,809 18.98 3,366 13,911 259.900 259,900 93,OOD 22.219 22,219 22.219 166,813 I6B,BU 68,]18 3,'/62,399 f 1.1]6.932 4,939,151 3.360,]31 458,422 463.409 410,631 109,926 109,926 9],511 12.261 0 388,03] 388,03] 333,191 Im.090 10),000 13],OOp 1,116.01 LR61 J10 2,9!],]81 l,l]],]BI 161,5]9 161,5]9 115,(AI 6.380,66] 109,991 3.694,898 f 0 10388,879 10.868,]14 See accompanying notes. 3 COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30, 1941 CITY OF ATLANTIC BEACH, FLORH)A (Corttluded) Fiduriary Fund Types Acayunt Groups Governmental Fuud Types Proprknry Trust Ceoenl Gemnl Tank Special Debt Capibl Fund Types and I.oog-Term Fued (Mevwnndum Only) General Revenue &rvitt Prolec(s Eolerprise Agency Obligations Asuu 1992 1991 IivNlab ad Prmd Fgaly (COarfMM) Pwd Pgdly ConmWad Caput f 7,558.6Td S 7 538 670 S 1 187 563 Invcmreain Wrcnl Fixd , , , . Asuu Reuircd Earnings: S 0,711,9]9 4,111,939 4,618.208 RcurveJ For nercwal aM Repixcmca 818,512 678 512 I b66 611 RcxrvW For Deb Service 1)2.618 . , . 332 618 3D 017 (Rbcr Reurvcs 531.155 . , 331 ]55 428 69] Unxxrval Renircd Earnings 6.892.531 . . 6 842 571 5 640 923 Fund Bal4rces: . . . . Rexrved For Payrrcaof Iane-Tcw Dcb T 196,601 f 40.137 2]6 144 275 864 Rexrved Fur Prepaid , . Eapcnxs f 85 Rcurved For lnrcaorks 16i U 83 0 Rcxrved F'or Pnfae inmirµ , 43,16] 57,895 aral invenigaiom S 32.126 32 126 20 ]88 Rcxn'cd FOr Rnixmcm 3,606,919 , , 616 3 919 3 0/0 250 Ulhcr Rcxrves 221412 S SIJ09 . . , . P9 221 44 328 Ilnnxrvrd Furtl Babracs 822.631 _ - _ 15,688 __ . . 638,31_9 _600,298 ToIW Fwd Pgrdly 863.88] 024,m9 40.1]1 6],431 16,20D,150 ],619.015 S 0 4,1A,939 26.050.670 25,005,361 - Talal W bs'riea aM iwd Fgwty S 1,032.692 S 443,051 S 43.503 S Bi.3]0 S 22.581,011 f 3]89.039 f 1.694,848 S /,111,939 S 36.N1.309 S 35,815,018 See accomirdnying Iroles. 4 s ~ ~ ~^ ~ COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANCES IN POND BALANCES ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUb1' FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 C[TY OF ATLANTIC BEACH, FLORIDA Revenues Taxes Licenses and Rnnhs Slate-Shared Revenues Orher In4rrwemmcnul Revenues Charges For Services Fines and For(eilures Mlerest Inwme Misceltrieous Revenue Taal Revenues Expendhure Current: Central Govemmenl Publk Safety TranSpnnallOn &onomk Environment CulNre and Recreation M:crrel Servkes DeM Service: Principal Resiremem Interest aM Fiscal Charges Capiul Outlay (foil Expenditures) Exceu (Deficknry) of Revenues Over Nnder) Expend8ure Other F'mancing Source Nse) Loan Proceeds (Loan Firuncing Cosa) Operating Transfers In (Operating Transfers Ou0 Taal Other Financing Sources Nsa) Excess (Defrckncy) of Rerenue and Other Fmmdng Sourm Over Nnder) Expendkure and Other Finandng Use Fund Batnm, Beginnkg of Year Fund Batnce, End of 1'nr eneral Goverssmental Fuud Types Rpectl Debt Revenue S<rvItt Capital Project 7?Iduclary Fuud Faepeudabk Trust Tact (Memorandum Only) t992 1991 S 1,995,440 S 418,599 S 41,363 S 2.405,402 S 2,132,276 162,776 0 0 162,776 129,707 961,296 0 0 961,296 924,210 19,021 6,000 0 25,021 212,130 32.173 0 0 32,173 2,362 87,716 0 0 S 29,021 116,737 110,678 21.887 5,306 2,436 S 6,438 1,094 17,161 129,197 31.717 14,025 0 0 0 45,742 42,814 3,262,026 443,930 43,799 6.438 30,115 3,786,;08 3,682,970 916.344 8.363 0 0 0 926,707 847,493 1,830,763 7,654 0 0 21,408 1,859,825 1.796.867 569,449 0 0 0 0 569,949 516,166 0 0 0 0 0 0 166,362 140,737 0 0 0 0 140,737 139,819 107,731 0 0 0 0 107,731 88,072 0 0 514,397 0 0 514,397 472,151 0 0 227,654 0 0 227,654 324,427 0 0 0 256,009 J 256,009 2,678,821 (3,567,024) (16,017) (742,051) (256.009) 21,408) _ (4,602,509) (7,030,176) (307.998) 927,9(3 (696.252) (249.571) 8,707 (816.201) r3,347,208) 0 0 0 0 0 0 1,179,619 0 0 0 0 0 0 (3,000) 842,133 14.089 707,949 265.462 6,000 1,831,633 1,453.466 (420,834) (566,940) 0 0 (2,969) (992,743) (780,366) 421,299 (554,851) 707,949 265.462 3,071 838,890 1,849.739 116.301 (126,938) 5.697 15.891 11.738 22,689 (1.497,969) 749.562 551,017 34,44p 51.546 20,388 1,406.973 2,904,442 f 865,883 S 424,079 S 40.137 S 67.437 S 32.126 1.429.662 S 1.906.973 Sce accompanying note COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ALL GOVERNMENTAL FUND TYPES FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 CITY OF ATLANTIC BEACH, FLORIDA PRge 1 of 2 Pages General Fund Special Revenue Fund Debt Servke Fuud Valiantt VariRlln Variantt Favorable Favorable Fnvarnbk Revesuars Budge) Actual Nnfavorabk) Budget Actual (Unfavorebk ) gad et R Actual Nufavorabk) Taacs 5 Lianas astl PCnniO 7.8)1.424 S 1.915./40 S I1d,D16 f 402.28 S 418.599 S 16.72] S 3),107 S 41,363 S 4 160 135,600 162.»6 IJ.IJb 0 0 0 0 0 , Suk-Slurtd R<vcnucs 1,011.760 961.296 (50.0691 0 0 0 Oder lmcrgoresmrcsml Revcwc 15.500 19.021 3,521 ID,Opp 11.306 0 (1 15 694) 0 0 0 0 Charges FOr Servkcs 2.550 R,1>3 39 623 0 0 . 0 0 wo~imrn ~ r 116. US BJ,JI6 , (38,119) 0 D 0 0 0 0 In ertV i lA.1g0 21.88] (18.1 U1 0 0 0 0 0 0 0 hliscdlarcoas Rcmmc 48.800 JL>O (1],0871 25,000 11.025 (10 415) L000 0 2,636 1,436 TMVi Rerenes ~~~~ 3,311,169 ],262,@b 30_651 559,2)2 641,9]0 . (110.]921 -" JB,I03 p 47,199 p 5,696 Cvrrca: ('arcnl f3avcmmcn: 940162 918.N4 21,918 0 8,363 f8 1b7) 0 PuMk Salary T 1.869.A3 48]0761 39,009 0 ).654 , 0 656) 0 D 0 0 nnzponation 316,320 369,649 ],OJI 0 0 , 0 Ecommic Envimmrcnl 0 0 0 13) 0 0 0 0 Colrvn and Rrcrntion Im.6i4 I60,>JJ 19 8» ,000 0 0 13],000 0 0 0 inernal Scrv'scs 10>,7M IOJ.>JI , 5 D 0 0 0 0 0 neM Service: 0 0 0 0 0 Prircipal kcdrtrrcns 0 0 0 0 Inertsc aM Fiscal Ciurgcs 0 0 0 p 54].09/ SU.743 72.700 oPil,l ada. o D 0 0 0 0 103.952 23),654 80198 (focal Ezpeoidkdsue) 13.6X,904) 0.56).024) o 67.8811 0 112] 0001 o (16 01]) a 110 983 o f D D Exam fDefrcieosJl o/ Rermun Oyer - - _" -' , , . (853, N 91 042.031) 112.9% fUMrrl Eapasd'4mu Olhr Fwavq Somsv Nsesl (443.5351_ (304.998) 13833] 42),2)2 42),913 bai (836.946) (698,2521 118,691 Opening Tnnsfen In (Opcnllog Tnmfcn OUp 841,030 (401 7>/ R42,p3 (920 834 I,IV3 18 0 14,089 14,089 816,976 )0],949 114,981) TWal plher F®rcieg Sources Naa) . 09.053 ) . 931199 ( ,65>1 fl>]X) (53),66/1 I5~1 (568.940) 13X 85 (31.736) 0 0 0 Excw fikfickogl of Rererson and OIAer _ - _,_ - ~- ' -" . 0 11),16)) 816. ]03.919 (112,96]) Froramg Sosusvs Over Nnderl P.xPendpsmes asd Other F'wrc4q Uses 1l 4831 116.301 130,>83 (110.3927 (126 9381 (16 516) 0 Fmd Bakrces, Ocioher 1, 1991 Id.920 )69.382 774,663 3d> d06 , 551 01) , (1 ) 3.691 570] imd Rakrces, Sepluo6er l0, 1992 S IO,IJB f 865.883 S 835.443 , S I7> Old S . 434 Q79 703.611 ] S 2 34,(83 31,440 317 , . 8 .065 S 36,083 S 40,13) S 6.051 See accompanying notes. 6 COMBINED STATEMENT OF REVENUES, EXPENDSTURL+S AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL ALL GOVERNMENTAL FUND TYPES POR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 CITY OF ATLANTIC BEACH, FLORIDA Page 2 of 2 Pages Capital Projects Funds Tomb (dlemonndum Only) Vvrfatltt Vvriaott Favorobk Faronbk Budge) Aclunl (Unfarorvbk) Budge) Acbral (Iinfvvorobk) Rcrum _ Tucs f O f 0 f 0 S 2,270,749 f 2,105,102 f 130.603 Licenses avdftsmbs 0 0 0 125,600 162,T/6 3].1]6 SnR-Slurzd Revav,es 0 0 0 1,011,360 %1~% (50.060 Otlur lnus8orermrcnul Revcruc 0 0 0 1!2,5110 30,32] (Il2.1T31 Cbarges Far Service! 0 0 0 1,550 32,1]3 29.623 Fires W Forteisurzs 0 0 0 116,135 87,]16 (7B./19) Inurzu Ircome 0 6,08 6,438 b1,00D 30J61 (302395 Misccllvaaus Rcveruc 0 0 0 ]1,800 45,742 (28.03 TAVI Rerevm 0 6,08 6,038 J.803.14d 3.]36.191 (9t,55n ~~~ __ Cnrrzre: Cercnl ('inYL111naM 0 0 0 910,262 926.707 13,555 Public Sakry 0 0 0 1,869.771 1,818.01] 31,353 Tsansponalpn 0 0 0 516.520 369,999 7,0]1 F<n~nmr Fnrironmcnt 0 0 0 12].000 0 127,000 Cuflurzard Reantion 0 D 0 160.614 110,737 19.6-n Imemal SCrvius 0 0 0 IOI,]36 102.]31 S qM Service: P,ircip I Retirtmcm 0 0 0 St],097 SII,l9] 32.]00 Imeuv aM Firal Charges 0 0 0 30],952 22],651 80 298 Cap8al 0u WY 219.OOD 256,009 (11,0075 139,OOD 256,009 (17,009) ffavl Espe,dilmn) (219,000) (256.SA9) (1],0095 (d,8)5.9571 (4,581.100 299,852 Eaten (Defkkay) of Resrnvs Oro ~- NoderlExpenddan (239.000) 12t9,57q 00.5711 It,OR,209) (821,908) 29],301 qhr Fmvrcirg Soacn Nwl OpcnunB Tnmfers In 119,000 263.162 26.162 I,B%,966 I,g25.613 p1,3131 (O,xnurg Tramkrs wn 0 0 0 19)9.Up (%9.A41 (50.1]3) Talvl qhr Simsviog SomSV Nsn) 2J9,000 - 265.962 26,d6i SS],32 833 859 p31,tb6) Escen NeRCkaT) of Rerenas ed fiber Fknabq - - -' Sovrcn Oyer Nndet) EapeMBsun aM qhr Fmmvlnf Uut 0 13,891 1:,691 (119,881) 10,931 125.635 fund Behan, OUaber 1, 1991 0 51,546 S1.S16 1%.i19 1,786,585 1,090,186 Fwd Baleen, Segmsber Jo, 1992 S 0 S 47,437 f 6],0] f ISL535 f 1,791,336 ~--1,216,W1 Sce accompanying notes. 7 COMBINED STATF,MENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS/FUND BALANCES ALL PROPRIETARY FUND TYPES AND PENSION TRUST FUND FOR THE FISCAL YEAR ENDED SEPTEIIffiER 30, 1 992 C[TY OF ATLANTIC BEACH, FLORIDA Fidudary Proprkury Fund Tgnb Funds Pemioo (Memorandum Only) Fnmrpree Trral 1992 1991 Operotmg Revmun Customer Charges ' S 7,785,657 $ 0 S 3.785,657 S 3,203 417 Employer s Comributbns ' 0 207,568 203,568 , 148 428 Employee s Conmibmiom 0 27,717 27,717 , 24 427 Sum Comrihutbns 0 60,812 60,812 , 61 162 Famings on Invntmmts 0 371,803 371,803 , 457 452 Ocher lncotne 156.891 0 156 891 , 220 886 Tout Operatng Revmun 3,942,548 663,900 , 4,606,448 , 4,I 15,772 OpenWg Fapmae Persoml Services 985,618 0 981,618 884 363 Conlnctml Services 209,342 0 209,342 , 558 133 Supplzz 216.110 0 216 110 . 161 214 Repairs and Mainmmnce 226,732 0 , 226 772 , 350 250 Heal, Light aM Pawer 324,326 0 , 324,326 , 251 170 Deprecation ' 680,484 0 680,484 , 628 331 Amort vation 100,000 0 100 000 , 100 000 Other E"ate 192,957 0 , 192,957 , 170 645 Retiremem &ne(ns 0 89,375 89,375 , 89 899 foul Operating Expenses) 2,975,569) (89,373) (3.024,944) , (3,194,710) Operoting Income 1,006.979 574,525 1,58!,504 921,062 NonoperaWig Income (Expenses) Operating Grants 4,329 0 1 329 0 Connection Charges 19720D 0 , 197.200 146 964 Sewer Generation Charges 109,058 0 109,058 , 104 619 Inter[at Income 316,957 0 316.957 , 417 761 (Inmre9 Expense) (443,519) 0 (443,519) , (391 089) (Lox) on Asset Disposal and AhaMonaKm 0 0 0 , Tout Nonopenting Income (Expenses) 164,025 0 184,025 (91,057) 187,228 Net Income Before Operating Transfers 1,!91,004 574,323 1,765,529 1108290 See accompanying note 8 ~ ~ ~ S ~ ~ ~ ~ ~ ~ ~ i ~ ~ ~ ~ ~ ~ ~ o ~ ~ _ ~^ ~ ~ . ~ ~ ~ ~ ~ s ~ ~ ~ ~ ~ COMBINED STATEMENT OF RI3YENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS/FOND BALANCES ALL PROPRIETARY FUND TYPES AND PENSION TRUST FUNU FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 CITY OF ATLANTIC BEACH, FLORH)A (Concluded) Other F"unnciog Source (Uses) Operating Transfers In (Opeating Transfers Ou0 Total ONer Pmancing Sourm (Uses) N<s Istcome Deprxietioo on F4ed Assela A[9utred BY Sh[aShared Revenues Ext<ma0y ReslrMed For Capiml Arqubilbo Increax b Retained Earnmgs/Fund Balances Retained PrmhngslFUnd Balanm, Beginning of Year R<tahred Fnrnings/Fund Balances, End of Year Flduefary ProprktarY iWnd Funds Pembn Enlerprue Tnn1 S 1,479,296 S 2,140 (2,320,326) 0 (841,030) 2,110 349.974 576.665 Tda6 (Memorandum Onry) _ 1992 1991 S ),481,436 j 2.190 2.320,326) (675,260) (838,890) (673,120) 926,679 435,170 228,196 0 228,196 196,894 578,170 576,665 1,154,833 632,014 8,067,306 3,070,251 11,133,560 _ _10.501,54(1 S 8,691.976 S 3,696,919 S 12,288,395 S 11.133 560 Stx accompanying note. 9 COI4DSINED STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPES -ENTERPRISE FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 CTCY OF ATLANTIC BEACH, FLORIDA 1991 (Memorandum 1992 Duly) Cash Fkws From OperaBvg Activities Operating Income S 1,006,979 S 319,492 Adjussmenu to Reconcile Operating hrcome m Net Cuh Provided 6Y Opentivrts: I)ePretuv ~a of Pknt 680,484 628.334 Amonvation of 4nungible Asun 100.000 100.000 Changes br Asuss - (Increase) Decreau: Asxounu Receivable (181,302) (39,061) We From ONer Govemmenu 33,281 (43,800) Inventory 9.650 (8,892) Ocher Currtns Asuu (47.806) (18,841) Changes m LkbOhks - Increau (Dttreau): Accounu Payable aM Aumed L'ub6uies 267.424 148,550 Cuswmer Deposits 32.591 66,976 Nel Cash Provided By Opentlag Aclivhlu 1,941.301 1,152,960 Cash Fbws From NonnPital F7oanebag AcOvitiu Connalan Clurges 197.200 746,964 Sewer Generation Charges 109,056 104,699 Operating Granr 4,329 0 Operating Transfers Oat m Other Funds (931.722) (616,168) Operating Transfers N From Ocher FurMS 90,692 63,651 Repayment of hoan Fmm Ocher Fund 0 (25,474) Loan Proceeds From Ocher FwMS 0 22,733 Net Cash Nsed N) Novnplml Finavdvg Actlvi0u (530,443) (303,645) Cuh Fbws From Capital and Rehted 4ivanciag AcOvities Coliectiom on Specul Assusmenu 94,089 126,326 Convibwbns 119307 0 Property. Plant and Fquipmem Addniom (1,711.963) (157,628) R<paymem or Pr'wr Convibutiou (120,000) 0 Prircipai Paymenu on Bonds (117,217) (231,601) tnkrest Patel (343.42d) (372,367) Operating Transfers Out to Other Funds (1368,604) (122,743) Operatin6 Tnmfers N From Ocher Funds 1.388.604 0 Net Cuh Nud In) Capital and Rehkd Fmnvrhsg AdiviOu 2.078,708) (1358,407) Cash Fbvn From InvestSng Aciivliks Invesvnenu Purchased (10,544) (16,471) Inkrest Income 316,957 417,761 Net Cuti Provided By lnvesdvg Acthhkt 306,413 401,290 Net (Decrtau) in Cash and Crib FquMkvts (361.437) (101,602) Cuh rand Cash Fquhaknes, October 1, 1991 4,820,612 4,928,414 Cuh and Cuh Fqukaknla, September 30, 1992 S 4,d59,175 S 4,820,6]2 See acwmpanying notes ]0 e 1 S 1 S f 1 COMBINED STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPFS -ENTERPRISE FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 CITY OF ATLANTIC BEACH, FLORIDA (Canduded) Schedule oI Noacash Invtsfiag, Capital end Futendn9 Transactiot~ 1991 (M®oraadtsm 1992 omy) Transfer of Sectoo "9" Asut Fram Gphal Projects Fwd and IdabOity FYam General Iung-Term Obllfatbos Account Croup: Section 'N' Asut S 0 S 1.680,771 Notes Payable 0 (1.1(A.908) Cono-ibutW Capiul 0 i31R863) NN Nontash Tramactlon ~ 0 S 0 Fsubl[sh SpMal Asussmeot For Secton "R" Project Special Aueument Receivabk Contributed Capital Net Nonensh Traosactbo Record Donated Assets Assets Cono-ibuted Gn'ribwed Caphal Net Noncub Transntrioo Abandoned ProJeaY -Beach Avenue Sce accompanying rata. 11 S 0 S 1.160,906 0 (LtlA.906) f 0 S 0 S 0 S 62,700 0 (62,700) S 0 S 0 f (91,057) Note 1 - NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA Summary of Significmt Aaotmtiog PoBdes The City of Atlantic Beach, Florida (the City) is inwryorated and operates under a form of government which comprises an elected City Conunission (four Commissioners and a Mayor-Commissioner) and provides, under the administration of an appointed City Manager, the following services: Public Safety (police and fire), Public Works (streets and infraztmcmre), Recreation, Sanitation, Stonnwater, Planning, Zoning, Water and Sewer Services artd General and Administrative Services. The accounting policies of the City cotdortn to generally accepted accounting principles az applicable to governments. The following is a sununary of the more significant policies used in the preparation of these financial statements. Reporting Entity The bazic criterion for including an agency, institution, authority, or other organization in a gevernmenml unit's repotting entity is the exercise of oversight responsibility over such entities by the governmental unit's elected officials. Oversight responsibility is defined to include, but is not limited to: financial interdependency; selection of governing authority; designation of management; ability to significantly influence operations; acwuntability for fiscal matters; and other factors including special financial relationships. There are no entities over which the City ezens any type of influence and, accordingly, the accompanying general purpose financial statements include only the fund types and account groups of the City itself. Fund Accomtiug The accounts of the City are organized on the basis of funds or account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for using a separate set ofself-balancing accounts which wmprise its azsets, liabilities, fund equities, revenue and expenditures or expenses. The various funds are grouped by type in the financial statements. The following fund types and account groups are used by the City. ^ Governmental Fund Types General Fund -The General Fund is the general operating fund of the City. It is used to account for all financial resources, except those required to be accounted for in another fund. Special Revenue Fords -The Special Revenue Funds are used to acwunt for the proceeds of specific revenue sources (other than major capital projects or expendable trusts) that are legally restricted to expenditures for specified purposes. Debt Service Fund -The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, long-term debt principal, interest and related vests other than obligations payable from the operations of the Enterprise Funds. 12 1 1 1 1 1 Note 1 - NOTES TO FINANCLAL STATEMENTS C[TY OF ATLANTIC BEACH, FLORIDA (Continued) Summary of Significant Aceountirrg Polices (Continued) Ford Accounting (Concluded) ^ Governmental Fund Types (Concluded) Capital Projects Funds -Capital Projects Furrds are used to account for the financial resources to be used for the acquisition or wnswction of major capital facilities (other than those financed by Enterprise and Special Revenue Funds). ^ Proprietary Fund Types Enterprise Fords -Enterprise Furls are used to account for water, sewer, sanitation and stormwater operations which are financed and operated in a manner similar to private business enterprise. The rose of providing goods or services to the general public are financed o: rewvered primarily through user charges. ^ Fiduciary Ford Types Trust and Agency Fords -Trust Funds are used to account for assets held az a wstee or agent by the City for others. The Pension Trust Fund is accounted for in usentially the same manner az Proprietary Funds. The Expendable Trust Fund is accounted for in essentially the same manner az Governmental Funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of resulu of operations. ^ Acount Groups General Long-Term OuligaNons Accomt Group -This account group is used to account for the ouutanding principal balances of long-term debt and other long-term liabilities other than those payable from the operations of the Enterprise Funds. General Fired Asset Account Group -This aceount group is used to aaount for all fazed assets of the City other than those accounted for in the Enterprise Funds. Basis of Accounting and Measurement Focus The accounting and repotting treatment applied to a fund is determined by its measurement taus. All Governmental Funds and Expendable Trust Funds are aaounted for on a spending or "financial Oow" meazurement focus. This means that only current azseu and current liabilities are generally included on their balance sheets. Their repotted fund balance (net current azseu) is coruidered a measure of "available spendable resources." Governmental fund operating statements present increazes (revenues and other financial sources) and decreazes (expenditures and other financing uses) in net current azseu. The Govenuental Fund Types, Expendable Trust Fund and Agency Funds use the modified accrual bazis of accounting. Under the modified accrual bazis, revenues are recognized in the accounting period in which they become available and meazurable. Expenditures, other than interest on general loner term debt, which are recorded when due, are recognized in the accounting period whm incurred. ]3 Note 1 NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA (Continued) Summary of Significant Accounting PoBcies (Continued) Basis of Accounting and Measurement Focus (Concluded) All Proprietary Funds and the Pension Tnut Fund are acwunted for on a cost of services or "capital maintenance' measurement focus. This means that all assets and all liabilities (whether current or noncurrent) azsociated with their activity are included on their balance sheets. Their reported fund equity (net total azsets) is segregated into contributed capital and retained earnings components. Proprietary Fund Type operating statements present increases (revenues) and decreases (expenses) in net total assets. The Proprietary Fund Types and Pension Tres[ Fund use the accrual bazis of accounting. Revenue is recognized when earned and expenses are recognized when incurred. Water, sewer, sanitation and stormwater services are billed to customers in advance on a quarterly cycle, with excess charges billed in arrears. A receivable is rewrded at year end for unpaid (delinquent) billings less an allowance for those considered uncollectible. Budgets General governmental revenue and expenditures accounted for in budgetary funds are controlled by a budgetary accounting system in accordance with various legal requirements which govern the City's operations. Budgets are monitored at varying levels of clazsification detail; however, expenditures cannot legally exceed total appropriations at the individual fund level. The City currently does not use an encumbrance accounting system. Budgets have been adopted for all Governmental Funds (General, Special Revenue, Deb[ Service and Capital Projects Funds). The City Manager is authorized to transfer budgeted amounts within departments within any fund: however, any revisions that increase the total expenditures of any department or fund must be approved by the City Commission. All necessary supplemental appropriations were adopted by the City Commission az pan of a quarterly budget review process and are included in the reported budgetary data. The budget presented on the Combined Statement of Revenues, Expenditures and Changes in Fund Balances -Budget and Actual -All Governmental Fund Types is prepared on the GAAP basis. Cazh and Investments Except where prohibited, rash resources of the individual funds are combined to form a pool of cash and investments. Investments in the Pooled Cazh Fund wnsist primarily of invested cazh and cenifirates of deposit which mature in one year or less plus cazh invested with the State Board of Administration. Interest income earned on the pooled cash and investments is distributed to the appropriate fords hazed on the average monthly balance of investments in each fund. Cash and investments in the Agency Funds represent employee deferred compensation which is managed by the Imernational City Managers' Association pCMA). 14 1 i 1 A 1 e Note 1 - NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA (Continucd) Summary of Significant Aceounting PoBdes (Continued) Cash and Investments (Concluded) Investmenu are valued at cost, except for the investments of the defered wmpensation and pension trust funds, which are valued at market (see Nom 2). For the purposes of the statement of cash flows, the City considers cazh and rash equivalents to include cash and investments with an original mamriry of throe months or less. Receivables Receivables are rewrded at their net realizable value. The allowance for uncollectible accounts and a~.~~ssments at September 30, 1992 in the Enterprise Funds is 543,226. Inventories Inventories consisting principally of ezpe.•tdable materials, supplies and fuel are dttermined by physical count at the City's year end and are valued at the lower of cost (first-in, first- ou0 or market. During the year, inventory in the General Fund is recorded az an expenditure at the time of purchaze (purchaze method) and converted to d:e consumption method for financial statement purposes. The inventory balance reported is oNstt by a fund balance reserve which indicates that it does not wnstimte "available spendable resources" even though it is a component of net current assets. ReslriAed Assets Certain Enterprise Fund azs°~s are required to be segregated from other current azsets due to various bond indenture agreements and City Ordinances. These assets are legally restricted for specific purposes, such az debt service, new constmction, and renewals and replacements. Aceomting For Fixed Assets Proprietary Fund capital expenditures made for revenue-producing assets, which are employed in operations that are accounted for in the Proprietary Funds, are capitalized at historical costs and depreciated using the straight-line method over their estimated useful lives az follows: Auildings and Improvements 40 Years Improvements Other Than Buildings 10.50 Years Equipment 3-00 Years IS Note 1 - NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTTC BEACH, FLORH)A (Continued) Summary of StgrrJrant Accomting Poliries (Cantinued) At:cormting For Fired Assets (Concluded) Contributed azsets are recorded at fair market value at the date of contribution. Depreciation recognized on assets acquired or conswcted ttuough resources extemaliy restricted for capital acquisitions is closed to the appropriate contributed capital (fund equity) account. General Bxed assets are fixed assets used in governmental fund type operations and are accounted for in the General Fixed Assets Account Group rather than in govemmental funds. All fixed azseu are valued at historical cost. Donated fixed assets are valued at [heir estimated fair value on the date donated. No deprecation haz been provided on general fixed azsets. Public domain ("infrazwcture') general feed azsets such az streets and sidewalks that are generally immovable and of value only to the City of Atlantic Beach have not been capitalized. Aaomting For Long-Tetra Obligations Long-term obligations, including general obligation or revenue bonds used to finance enterprise fund operations and payable from revenue of the enterprise fords, are rewrded in the applicable fund. General obligation bonds and other forms of long-term obligations supported by general revenue are obligations of the City az a whole aM not its individual wnstiment (ands. Accordingly, such unmamred obligations of the City are accounted for in the General Long-Tenn Obligations Account Group (see Note 5). Compensated Absences Accumulated unpaid vacation and sick pay are accmed when incurred in proprietary funds. The amount of accumulated vacation and sick pay recorded in the governmental funds is that amount, adjusted to current salary vests, which is expected to be liquidated with expendable available financial resources. Only the currrnt portion is reBected in the funds. The remainder of the liability is reported in the General Long-Tenn Obligations Account Group. The guidelines of Financial Accounting Standards Board Statement No. 43 were applied in determining the liability for both governmental and proprietary funds. Revenue Recognttion Utility revenues are recorded when received and adjusted to the accrual basis for Powtcial reporting. Restricted grant revenues, which are received but not expended are recorded as deferred revenues. Grant revenues receivable are recorded when reimbursable expenditures on those grants have been incurred but not reimbursed. Properfy Taxes The assessment of all properties and the collection of all property axes are made through the Property Appraiser and Tax Collector of the City of Jacksonville, Florida. General property taxes are recorded az received, in cash, which approximates taxes levied ias discounts for the current Bscal year. 16 t 1 NOTFS TO FINANCIAL STATE111?:N'fS CITY OF ATLANTIC BEACH, FLORIDA (Continued) Note 1 - Summary of Significant Accounting PoGaes (Continued) Property ;axes (Concluded) Taxes are levied on November t of each year. All taxes became delinquent on April I of ' the following year. Discounts are allowed for early payment. On or prior to June 1, cenifiates bearing interest at 18% are sold for all uncollected real property taxes. Unsold cenifiwtes are held by the City of Jacksonville, Florida. Interlund Transactions During the course of normal operations, the Ciry has various transactions between funds to ' conswct assets and comply with local ordinances and other legal restrictions. These transactions are reflected az operating trar~afers (see Note 9). Peasion Plaas The City accounu for its pension plans miler Financial Accouming Standards Board Statement No. 35, Accounting and Reporting by Defined Benefit Pension Pians. The pension ' plans cover substantially all of the Ciry's full-Cone employees. The City records pension costs in the period salaries are earned. Pension expense includes normal cost plus amaniution of past service cost over twenty-five years (see Note 7). ' Deterred Compensation Plan This City reports its Internal Revenue Code Section 457 deterred wmpensation plan as an agency fund in accordance with Governmental Accounting Standards Board Statement No. 2 (see Note 8). ' Contributed Capital Contributed capital in the proprietary fund types represents contributions from other Porrds. developers, aryl federal, state and local grant programs. Contributions are used primarily ' for capital outlay projects and are recognized az increazes in equity in the period they are earned or received. Reserve of Fund Balances and Retained EarWngs Reserves recorded in the governmental funds represent portions of fund balance which cannot be appropriated for expenditures or which have been segregated for specific future uses. The reserved fund balance in the Special Revenue Fund is for payment of long-teen ' debt (5195,607), road and street expendimres (562,490), police (52,969) and tourism development (5162,013). The reserved fired balance in the Capital Projects Funds is reserved for streets and drainage projects. Reserves recorded in the enterprise funds are created by the existence of azsets restricted for debt service, construction, renewals and replacements. The "Other Reserves' of 5537,755 ' are the State Revenue Generation Charges reserved for future sewer plant expansion. 17 Note 1 Note 2 NOTES TO FINANCIAL STATE117EhT5 CITY OF ATLANTIC BEACH, FLO12iDA (Continued) Strttuuary of Significant Accountlng PoBcies (Concluded) Total Colurms on Combined Statrmtents Total columns on the combined firancial statements are captioned "Memorandum Only" to indicate tha[ they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or cash flows in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have riot been made in the aggregate of this data. The totals for 1991 are presented for the purpose of additional analysis and aze not a required part of the general purpose financial statements. Crib and Investments The City maintains a cash and investment pool that is designed for use by all funds, except for those monies which are periodically transferred to the pension custodian and the deferred compensation plan administrators. In addition, investments are separately held and individually accounted for by several of the City's funds where wntracmal arrangements and bond covenants provide for and require such arrangements. The deposits and investments of the pension trust fund which have been transferred to the pension custodian are held separately from those of other City funds and are required to be administered by an investment advisor. At September 30, 1992, the carrying amount of cash on hand and on deposit with banks. including interest-bearing deposits, was (596,393, and the related bank balance was 5574.792. Monies which are placed on deposit with financial institutions in the form of demand deposit accounts, time deposit accounts and cenificates of deposit are defined as public deposits. All of the City's public deposits are held in qualified public depositories pursuant to State of Florida Statutes. Chapter 28U, "Florida Security for Public Deposits Act'. Under the Act, all qualified public depositories are required to pledge eligible collateral having a market value equal to or greater than the average daily or monthly balance of all public deposits, times the depository's collateral pledged level. The pledging level may range from 50% to 125 depending upon the depository's Bnancial condition and establishmem period. All collateral must be deposited with an approved financial institution. Any losses to public depositors are covered by applicable deposit insurance, sak of securities pledged as wllateral and, if necessary, assessments against other quest ified public depositories of the same type as the depository in default. The City's investment practices are also governed by Chapter 280, Florida Statutes, which allows the City to invest in cenificates of deposit, money market certificates, obligations of the U.S. Treasury, its agencies and instmmentalities, repurchase and reverse repurchase agreements collateralized by U.S. securities, and the State Board of Administration. The pension tmst fords are also authorized to invest in corporate bonds, preferred stocks, common stocks, and mutual funds. 18 1 1 Note 2 - NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA (Continued) Cash and InvesWents (Concluded) Cash and investments at September 30. 1992, are categorized in accordance with GASB Statement No. 3 to indicate the level of risk assumed by the City. The pension investments held by Sun Bank Trust Department are considered to be category one credit risk investments, which means that they are fully insured (5100,000 per panicipanq. The deposits and investments with sate agencies and the International Ciry Managers' Association (deferted compensation) are not clazsified by credit risk since they aze held by independent agencies. There were rro violations of the legal or contractual provisions for deposits and investments. The total cash and investment balance of the City is comprised of the following items Cash Petty Cash on Hand S 500 Checking and Money Market Accounts 595,893 Total Cash 596,393 Pension Trust Investments Short-Tenn Treasury Pottfolio 8,712 High Grade Equity Fund 1,767,629 High Grade Bond Fund 1,825,422 Total Pension Trust Investments 3,601,763 Investments Investments With ICMA 109,926 Invested Cazh in Escrow and Cazh With Fiscal Agent 445,905 Investment With Sute Board of Administration 5,124,735 Total Invesmrents 5,680,566 Total Cash and Investments 9,878,722 (Restricted Cash and Im~estments) (2,194,507) Total Unrestricted Cash and Investments 7,684,215 Restricted rash and investments at September 30, 1992 in the Enterprise Funds follows Current Future State Rmewel Debt Debt Revenue and Enterprise Fund Service Service Generation R eplacement Total Atlantic Beach Water S 19,827 E 19,827 Atlantic Beach Sewer 290,469 S 182,594 5 537,755 S 165.198 1,176,036 Buccaneer Water 83,251 0 0 0 83,251 Buccaneer Sewer 170,352 0 0 666,411 836,763 Oak Harbor Water 10,067 0 0 14,572 24,659 Oak Harbor Sewer 21,580 0 0 32,391 53,971 Total S 595,586 S 182.594 5 537,755 S 878,572 S 2,194,507 19 NOTES TO FINANCIAL STATEhfENTS C[TY OF ATLANTIC BEACIt, FLORIDA (Continued) Note 3 - Spedal Assessment During 1991, the Ciry imposed a special assessment on residents in a certain area of the City known az "Section N' to recover a portion of the costs of water and wastewater improvements wnstmcted by the City in that area. Assessments are payable in equal annual installtrlants over twenty years plus interest at 8.65 %. Initial azsessments are hazed on front footage. Following is a summary of the outstanding balance at September 30, 1992: Principal Receivable, September 30, 1992 (Covent Portion) Principal Receivable - NoncutTent Note 4 - Property, Plant and Egtdpment A sulrtlnary of changes in general fined azsets follows: 1 a S 940,493 (49,751) ' 3 890,742 Balance Balance 10/1/91 Additions (Disposals) 9/30/92 Land S 561,407 S 561,407 Buildings 2,082,206 5 20,233 2,102,439 Improvements Other Than Buildings 556,030 37,923 595,953 Equipment 1,476,565 57,036 E (15,461) 1,518,140 Total Propekty, Plant and Equipment S 4,678,208 5 115,192 5 (15,461) S 4,777,939 A summary of fixed azsets of the Enterprise Funds at September 30, 1992, follows: aecuaYr taer4l Oak Wrbor Taal Wmn Srwn Wan _ Sewn Water Sewer Saolutloa 9ormwan Eaergtse ima Fmd F®d Fina Fm6 Fmd F1md Fmd Fmds hM S 281)]1 S 31,865 S 11?]99 S 154,035 Inundi6lc Ylam S Sa,)9] 51.]9] Buildings S J9J.)IB 0 92,5)1 182.629 669.m8 Mpros mcnts ; TM1an Qke Buildings 3,003.8]2 6.IOl.]q 1,861,21) ).832.010 S 02!19 5 418A3 96.995 0.]62,81) Mx6iary arq Equii^cm R6.JS6 732.160 61.)03 86.9Jd 0 1.940 S 569.059 0 11)9,666 (Aaumub¢d rxprcnauom 11.1021911 rz.144.39q 13]133)1 1681!1]) 80.0101 p1.006) 066.0611 0 (i,tl9.]2fl Conswnia:~ in Progress 616.208 3.010 0 8.820 0 0 0 0 6JO,m6 To W+ ] 03 37 85) 5 6. 60.99) 1 110.959 S J.5~4.009 S 121,IW X9,469 L In,998 5 151 ]92 16 20 i 1 1 ' NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTTC BEACH, FLORIDA ' (Confinued) Note 5 - Long-Term ObBgations The following is a summary of the long-term obligations of the City for the year ended September 30, 1992: ' Gemeal I.oo;-Term Obllganom Imml~eot C.mernl Nds AaarW P~lerpetse Flmds sad Lease Compematbn Rerems Nas Rsenue Obtlaatioo Nola Goods Bands Payable Obaaalbm Absents Bonds Parible Total ObBgaliom - Payable al 1011191 f 1.736.434 S 131,000 52,019,043 f 531,191 S 145.601 fi,llJ,300 51,160.908 59,411 326 ' New Debt 0 0 0 0 15.9]8 0 0 15.9]8 PtintiWl Retired 1161.082) (30.OQ0 !11],]62) 1145.130 0 (95.0011 Q2.21 B) (671.61]1 ObBaanom ' Payable at 9/70192 3 1.116.952 S 101.000 31.861.310 S 386,051 S 161,519 54,022.299 31.138.690 58,855.881 ' Bonds payable at September 30, (992 are comprised of the following individual issues: General Obligation Bonds ' 1971 Sewer System Serial Bonds, Payable in Annual Installments of 530,000 to 540,000 Principal Plus Semiannual Interest at 5.75 b Through 1995. 5 107,000 Revenue Bonds 1985 Buccaneer District Water and Sewer Serial Bonds, ' Payable in Annual Installments of Principal and Semiannual Installments of Inerest at 9% Through 2000. Total Payments are Approximately 5340,000 Annually. 2,082,299 State Pollution Control Bonds, Series 'Q', Payable in Annual Installments of Approximately 5185,000 Including Interest of 8% Through 2000. 1,065,000 ' 1985 Florida Municipal Loan Council Pooled Loan Program Revenue Bonds Payable in Quarterly Installments of 540,371 Plus Interest Through 1995 With a Balloon Payment of all ' Remaining Principal and Interest Due December 1, 1995, Bearing Interest at a Variable Rate (Approximately 3.376% a[ September 30, 1992). 1,176.952 1989 Oak Harbor and Sewer District Revrnue Bonds, Payable in Annual Installments of Principal and Semiannual Installments of Interest at 8% Through 2015. Total Payments are Approzi- mately 580,000 Annually. 875,000 Total Bonds Payable S 5,306,251 ' 21 Note 5 - NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA (Confirtued) Long-Term Obtiga[ioas (Continued) Notes Payable and Lease ObBgadons Notes payable at September 30, 1992 are comprised of the following: City of Gulf Breeze, Florida. Local Government Loan Pool Program, Govenunent Unit Note, Payable in Annual Installments of Principal and Semiannual Installments of Interest at a Floating Rate Increasing From 6.50% to 6.85% Over the Tenn of the Note. Total Payments are Approximately 5225,000 Annually. The Note is Secured By the City's Utility Service Taxes and the Local Option Gaz Taxes. 5 950,000 City of Gulf Breeze, Florida. Local Government Loan Pool Program, Government Unit Note, Payable in Annual Installments of Principal and Semiannual Installments of Interest at a Floating Rate Increasing From 7.40% to 7.70% Over the Term of the Note. Total Payments are Approximately 5195,000 Annually. The Note is Secured By the City's Utility Service Taxes. 2,050,000 lnstallmen[ Note, General Electric Fleet Services, Inc., Payable in Monthly Installments of 56,199, Including Interest at 8.1 %. 131,647 Capital Lease, Sun Bank, N.A., Payable in Monthly Insallments of 56,529, Including Interest at 7.29%. 256,4(0 Total Notes Payable and (.ease Obligations 5 3,388,057 The annual requirements to amonize all debts outstanding (excluding accrued compensated absences) at September 30, 1992 are az follows: Ceoeral Long-Term Obligations Account Group Eoterprlse Funds 9/30 Principal Interest Total Princpal Interest Total 1993 5 502,103 S 194.225 S 696.326 S 282.119 S 42},236 S 703.355 1994 533,337 164,487 697.824 309,296 396,583 705.879 1995 479,834 135,620 615,454 335.096 369,646 704.746 1996 971,752 98.322 1.070,074 374,873 340.308 715.181 1997 237,227 69,758 306,965 403.373 307,630 111.003 Thereafter 809.066 63-0,641 1,443.707 3.456.232 2.039.458 5.495,690 ToLi S 3,333,319 S 1,297,053 5 4,830,372 S 5,160.969 S 3.874,863 S 9.035,852 22 t NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORH)A (Condnued) Note 5 - Long-Term Obligations (Concluded) General obligation bonds (1971 series) of the Genetal Long-Term Obligations Account Group represent bonds issued by the City for construction, improvements and extensions to the City's sewer system. These bonds were issued az general obligations of the City and, therefore, are not obligations of the individual Enterprise (sewer) Fund. ' During 1985, the City obtained a Sute Board Loan which is administered by the State Board of Administration and secured by Sute Pollution Control Bonds, Series "Q", to support funding for improvement and expansion of its sewer system. These bonds are payable from ' pledged revenues derived from the operations of the sewer system. Under the terms of the agreement, the City may later pledge additional legal and available funds to repay the loan as i[ deems appropriate. ' During 1985, the City issued revenue bonds to acquire an additional water and sewer system. These bonds are payable from the net revenues of the Buccaneer District Water and Sewer System and are not general obligations of the City. The bonds may be prepaid on April 1. 1994, with no penalty. During 1986, the City elected to participate in the Florida Municipal Loan Council Pooled ' Loan Program (Revenue Bonds, Series 1985). Under this program, the City is eligible to borrow up to SI,871,000 to be used to finance capital projects. At September 30. 1992, SI.I76,952 was outstanding and included az an obligation of the General Long-Term ' Obligations Account Group. The amortization schedule above includes interest on these obligations at an azsumed rate of 3.376. ' During 1989, the City issued additional revenue bonds to acquire the Oak Harbor District Water and Sewer System. These bonds are payable from the net revenues of this system and are not general obligations of the City. The bonds may be prepaid on March 1, 1994, with ' no penalty. During 1991, the City entered into a capital (ease to purchase office equipment for 5327,484. The minimum lease payments for the remaining lease term are az follows: 1992 - 578.345: 1993 - 578,345: 1994 - 578,345; 1995 - 578,345; and 1996 - 558,765. The present value of the minimum lease payments is 5256,410. Revenue bonds of the Enterprise Funds wntain various terms and covenants which require the City to maimain adequate user rates and to account for the deposit and distribution of ' revenues in accordance with established priorities. As of September 30, 1992, the City waz substantially in compliance with all such covenants . Imerest incurred during the year ended September 30, 1992 waz 5227,304 in the Debt ' Service Fund and 5443.519 in the Enterprise Funds. All the interest was charged to expense during the year. '~ 23 '1 NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA (Confinued) Note 6 - Purchase of Oak Harbor On March I, 1989, the City purchased the water distribution and sewer collection systems from the Oak Harbor Water and Sewer District for $900,000. The acquisition was financed with the proceeds from the Oak Hazbor bond issue. The purchaze price was in excess of the fair value of the fixed assets acquired. The City has allocated 5400,000 to the purchase price of the fixed assets and 5500,000 to the rights to furore revenues from this area. The intangible asset is being amonized over five years using the straight-line method. Amortization expense for 1992 waz SI00,000. The unamonized balance at September 30, 1992 was 5141,666. Note 7 - Emptayee Benefits The Ciry has three separate defined benefit singlecmployer pension plans (General Employees', Police and Firefighters') which cover substantially all of its employees. The City accounts for the plans as pension wst (ands. General Employees' Pension Plan All City employees, except for police, firefighte[s and pan-time employees, are wvered under the General Employees' Pension Plan. Current membership is comprised of the following: Retirees and Beneficiaries Currently Receiving Benefits 11 Vested Terminated Employees 4 Active Employees: Fully Vested 30 Nonvested 45 Total 90 Employees attaining the age of 60 and completing five or more continuous years of service are entitled to a monthly benefit of 2.2546 of their average monthly earnings as defined in the plan for each year of continuous service. Active employees who become disabled receive benefits computed as regular retirement benefits. If an active employee dies, his designated beneficiary receives payments computed as regular retirement benefits. If a member's employment is terminated before he/she becomes eligible for any other benefits under this plan, he/she shall receive a refund of his/her member contributions. tf a member terminates his/her employment either voluntarily or by lawful discharge aher the completion of at least five years of continuous service, but before becoming eligible (or retirement under this plan, he/she shall be entitled to a deferred vested benefit. The deferred vested benefit shall be based on monthly earnings and wntinuous service as of the termination date. 24 0 1 1 NOTES TO FBVANCIAI. STATEINENTS CITY OF ATLANTIC BEACH, FLORmA ' (Continued) Note 7 - Enployce Benefits (Continued) General Employees' Peaslon Plan (Concluded) The General Employees' Pension Plan was established pursuant to City Ordinance adopted ' in 1975 by the City Commission. The plan is also governed by certain provisions of Chapter 112, Florida Statutes. The plan is administered by the Board of Trustees. ' Police and Firefighters' Retirement System Current membership in the Police and Firefighters' Retirement System is comprised of the following: ' Retirees and Beneficiaries Curzently Receiving Benefits 3 Vested Terminated Employees 7 Active Employees: Fully Vested IS Nonvested 20 Total 45 Employees attaining the age of 60 and completing five or more years of service, or age 55, with 20 or more years of service, are emitted to a monthly benefit at 2.4% of their average ' monthly earnings az defined in the plan for each year of wntinuous service. Active employees who become disabled receive benefits computed az regular retirement benefits. If an active employee dies, his/her designated beneficiary receives payments computed az ' regular retirement benefits. If a member's employment is terminated before he/she becomes eligible for any other ' benefits under this plan, he/she shall receive a refund of his/her member contributions. If a member terminates his/her employment either volunurily or by lawful discharge after t the completion of at leazt five years of continuous service, but before becoming eligible for retirement under this plan, he/she shall be entitled to a deferred vested benefit. The deferred vested benefit shall be based on monthly earnings oral rontinuous service az of the 1 termination date. The Police and Firefighters' Pension Plan was established pursuant to City Ordinance ' adopted in 1975 by the City Commission. The plan is also governed by cerain provisions of Chapters 175 and 185, Florida Statutes. The plan is administered by the Board of Trustees. ' 25 Note 7 - NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA (Continued) Emgoyee Benefits (Continued) Summary of Significant Aceounting Potiaes and Plan Asset Matters Investments and Investment Income Investments for the plans are initially recorded on the trade date. Investments are valued at fair market value. Market values of investments are valued at the last reported sales price on the last business day of the year from published sources. Invesvnent policies are determined by the Board of Tmstees and are v[plemented by investment advisors. Earnings on investments represent realized gains and losses, and the effects of adjusting the investment portfolio to fair market value at fiscal year end. Investments as of September 30, 1992 are az follows Fair Mazket Cost Value Sun Bank High Grade Equity Fund S 1.514,166 S 1,767,629 Sun Bank High Grade Bond Fund 1,349,880 1,825,422 Short-Tenn Treasury Portfolio 8,712 8,712 Total S 2,872,758 S 3,601,763 Related Party TransaMfoas There are no related party transactions recorded fer any of the plans Funding Status and Programs The amount shown below az the "pension benefit obligation" is a standardized disclosure meazure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the fr.ur^ as a :salt of employee service to dale. This measure is the actuarially-determined present value using the credited projected benefits method and is intended to (1) help users azsess the plan's funding status on agoing-concern basis. (2) azsess progress being made in accumulating sufficient azsns to pay benefits when due, and (3) allow for comparisons among public employce retirement plans. The measure is independent of the actuarial funding method used to determine contributions to the plan. The pension benefit obligation was determined az part of an actuarial valuation of the plan az of September 30, 1991. Significant actuarial assumptions used in determining the pension benefit obligation include (a) a rate of return on the investment of present and future azsets of 8~ per year compounded annually, (b) projected salary increazes of 5.5~ per year compounded annually, attributable to inflation, (c) additional projected salary increazes ranging from 0.0~ to 3.0~ per year, depending on age, attributable to seniority/merit: and (d) the azsumption that benehts will not increase aher retirement. 26 i 1 1 e Note 7 1 1 NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORIDA (Continued) Employee Benefits (Continued) Summary of Significant Aceotmtiog PoBdes and Plan Asset Matters (Continued) Fund'mg Status and Progress (Concluded) At September 30, 1991, the net azsets were higher than the pension benefit obligation by 5248,591, detemuned az follows: Pension Benefit Obligation Retirees and Beneficiaries Curtently Receiving Benefits Terminated Employees Not Ye[ Receiving Benefits Current Employees: Accumulated Employee Contributions, Including Allocated Investment Inwme Employer-Financed -Vested Employer-Firanced - Nonvested Total Pension Benefit Obligation Net Assets Available For Benefits (At Market) Assets (Under) in Excess of the General Police Fire 5 498,476 S 134,228 5 48,639 68,255 18,104 95,050 36,045 22,770 6,466 903,589 696,454 131,822 84,859 43,156 33,750 (1,591,224) (914,712) (315.72'1) 1,444,198 1,111,873 514,183 Peosion Benefit Obligation 5 (147,026) 5 197,161 5 198,456 During the year ended September 30, 1991, the plan experienced a net iacreaze of 5256,198 in the pension benefit obligation. Contribmioas Required and Contributions Made For All Pleas The City's funding policy provides for periodic employer contributions at acmarially- determined rates that, expressed az percentages of amual covered payroll, are designated to accumulate sufficient azsets to pay benefits when due. The normal cost and actuarial accrued liability are determined using an entry age actuarial funding method. Unfunded actuarial accmed liabilities are being amortized az a level percent of payroll over a period of twenty years. During the year ended September 30, :991, contribution= totalling 5234.016 (5209,590 employer and 524,426 employee) were made in accordance with wntribution requirements determined by an acmarial valuation of the plan az of September 30, ]989. 27 NOTES TO FINANCIAL STATEMENTS CITY OF ATLAMftC BEACH, FlfylilDA (Continued) Note 7 - Employee Benefits (Concluded) Summary of Significant Accounting PoBaes and Plan Asset Matters (Concluded) Contributions Bequired and Contributions Made For Ail Plans (Concluded) Significant actuarial azsumptions used to wmpute contribution requirements were the same az those used to compute the standardized measure of the pemion benefit obligation. Historical Trend Information -All Plans Analysis of Funding Progress Uvfunded Net Asub Pensbv Uvrmded PBO u a Fhenl Available Bevefit Pembn Amual Percentage Year Ending For ObBgatiov Percent Bevefd Covered of Covered September 30, Benefits (PBO} Funded Obligation Payroll Pay7•oll 1967 f 1.694,786 S 1,703,236 99.5% S 8,450 S 1,454,243 .6% 1988 S 1,888,635 f 1.917,709 98.5% f 29,074 $ 1 '16,170 1.7% 1989 S 2.293,223 S 2,199,37) 101.34 S (93,849)f 1,909,991 - 1990 S 2.466,544 f 2,565.465 96.2% S 98,921 f 2,295,583 4.3% 1991 S 3.070,254 5 2.d21,6G3 108.8% S (248.391) S 2,d91,992 - Computed Contnhmioo Comparative SchedWe Contribution Rases as Fracas Percent of Dollar COntributbn Year Fndmg VaNadon Date Vnbafiov PoyroO VnluaWn For Fkrai Year September 70, September 30, General Police Fire Payroll Computed Attunl 1989 196'1 9.69% 1032% 1049% TLS T 156.314 161%g5 1990 1988 9.10% II.55% 9.76% S 1.116.110 S 184,68) S 186,050 1991 1989 9.27% 11.]6% '7.16% T1,909,994 S 202.961 5 209.590 1992 1990 9.89% 1211% 8.85% S].295.383 S 261.]57 S 261,380 1993 I99f 9.b% ILIS% 646% 12,411.993 S 237.488 Ten-year hisroriral trend in(urmation, designed to provide information about the City's progress made in accumulating sufficient azsets to pay benefits when due, is presented in the statistical senion of this repon. 28 1 1 ' NOTES TO FINANCIAL STATEMENTS CITV OF ATLANTIC BEACH, FLORIDA (Continued) Note 8 - Deferred Compeasatlou Plm ' The City offers its employees a deferted compensation plan created in accordance with Internal Revenue Cade Section 457. The plan, available to all Ciry employees, permits them ' to defer a portion of their salary until Cumre years. The deferred compensation is not available to employees until termination, retiremem, death, or unforeseeable emergencies. All amounts of compensation deferted under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the propery and rights ' of the City (without being resMcted to the provisions of the benefits under the plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferted account for each panicipant. 1 It is the opinion of the City's legal wunsel that the City has no liability for losses under the plan bw does have the duty of due rare clot would be required of any ordinary prudent investor. The City believes that it is unlikely that it will use the azsets to satisfy the claims of general creditors in the furore. ' Note 9 - Interfund Traasactfoas Reconciliatim ' A summary of interfund Transfers during the fiscal year ended September 30, 1992 is az follows: Traasfers Out Amount Fmd Receiving Ttaasfer General Fund General Fund S 8,363 Miscellaneous Grant Fund General Fund 2,757 Police Grant Fund General Fund 389,237 Debt Service General Fund 12,337 Capital Prc;xts Furl -Other ' General Fund 2,140 Pension Tru>, Fund General Fund 6,000 Police Trust Fund Total General Fund 420,834 ' Spedal Revenue Funds Miscellaneous Grants 1,103 General Fund Convention Development Grant 54,192 Capital Projects Fuld -Other ' Local Option Gas Tax 314,712 Debt Service Local Option Gaz Tax 198.933 Capital Projects Fund -Other Total Spedal Revenue Funds 568,940 29 NOTES TO FINANCIAL STATEMENTS CITY OF ATLANTIC BEACH, FLORH)A , (Continued) Note 9 - Inlerfund Transatiions Recondliation (Concluded) ' Traasfers Out Amount Ford Receiving Transfer Enterprise Fords , Atlantic Beach Water Fund S 63,407 General Fund Atlantic Beach Sewer Fund 191,899 General Fund Atlantic Beach Sewer Fund 605,500 Atlantic Beach Water Fund , Sanitation Fund 555,935 General Fund Buccaneer Water Fund Buccaneer Sewer Fund 138,068 278,283 General Fund General Fund Buccaneer Sewer Fund 80,325 Atlantic Beach Sewer Fund Buccaneer Sewer Fund 300.Ii00 Buccaneer Water Fund Buccaneer Sewer Fund 160.000 Oak Harbor Sewer Fund ' Buccaneer Sewer Fund 222,779 Atlantic Beach Sewer Fund Oak Harbor Water Fund 20,000 Oak Harbor Sewer Oak Harbor Water Furtd 1,686 General Fund Oak Harbor Water Fund 31,675 Buccaneer Water Fund Oak Harbor Sewer Fund 11,752 General Fund Oak Harbor Sewer Fund 59,017 Buccaneer Sewer Fund ' Total Enterprise Ftmds 2,320,326 Expendable Trust _ 2,969 Police Grant Fund e Total S 3,313,069 A summary of interfund receivablelpayables at September 30, 1992 is as follows: Due To Expendable Geceral Trust Total Due From Special Revenue S 6,260 5 0 S 6.260 30 NOTES TO FINANCIAL STATEMENTS ' ' ' Note 10 - CITY OF ATLANTIC BEACH, FLORIDA (Continued) Segmen[ Information For Enterprise Fords The City has established separate Enterpriu Funds to account for water, sewer and sanitation services. Segment information for the Ciry's Enterprise Funds for the year ended September 30, 1992, is as follows: e9[I.CIgr nrle OLL w1e9r T,pl N1ter Sg„M Wuer Sher Weer 51.er S,NWae 9101mw61rr Fserprlre Flmd Fll,ld Ford Ford lord Flmd illltl lord Fmd1 Openuo{ Rwem,e S 5]5.631 S LW U51 3 DI ~l1 3 80.229 J JU.513 3 156.126 3 661.391 f 21 ).636 3 ).912.518 r31Pr: os,6 ia Mo rti~an 101 8]] 29),5)) )2,190 122.9A Jg.6R 61.010 61.155 0 ]60.161 ' oPlrlnne lncon,r Ilau) 6],163 IM 91) 12.591 284.861 w,aa6 59.]60 165166 zIlA61 1.006.0)9 Norapauing Ircan~c (E,Prxr) 6L992 185.915 (19,NB/ 121.233) IU.a66) p),ISq 9.681 I,a92 161.025 Na Opttvin{ TrvWns In 10mi 54x.093 (194.195) 19J,,iW 19a2.1'rol (SI,Mq 1091)1 (155.9JSi 0 1641.D1o) Nn lrcom< ' haul )11,2)0 1202.1611 316.]M pfa.]09) p1.H11 00.66] 39111 31 ).P6 3@9]1 Na Propvrry. PW V vtl Fqu ,va 1.03].6A 6.660.W3 1,)OO,M9 3}N,009 133.109 )69,169 W3,996 151]9? 16.OIO.iLE ' Spxu1 A o 2 ,um r R4~.,bm: Ian{~Tr~ n4,)91 616.961 0 0 o a o o a9o.)4z N44 N'<rtin{ Ca9iul Inef ip 10,6N 160.)36 OC.561 60.598 3.263 05.351 25).601 61.561 2.292,555 Propnry. PW~ W Equgmca AMUiom 569.969 101,)60 163.19] J9J1>0 0 0 8 NS 151 ]92 I ]II I6) ' Com,butiom 0 0 Ib'36 IOE,)31 0 0 0 0 119.30] ReNN of Prior mrianion o o Iz.2a) 101.TD o 0 0 o Im.ooo Tong Tma DAI Q0.92J 1620.N6 6)108 1.291.33) 3)$.5)3 569666 0 0 1.8]6,6)0 ' Taal Equip Ilk! n) S.CS>.6W ],190.56) 1.352.151 i.)M.661 190.b]q 63.Itl 136.]99 211.)]6 16.200.150 Toul6ixu 1.066.091 9.016136 3.539.]12 5.)16.621 210.)95 695.9]9 502]6) 220.59) 23.561.01] Note 11 - Joint Vent ure In 1985, pursuant to ar. interlocal agreement authorized by Section 163.01, Florida Statutes, ' the Cityjoined with the City of Jacksonville Beach, Florida, and the City of Nepm2x Beach, Florida, to construct and operate effluent outfall lines and disposal facilities, together with all the lands, right-0f-ways, easements, agd other entitlements necessary for the con9truction ' and use thereof. 31 NOTES TO FINANCIAL. STATF.hfENTS CITY OF ATLANTIC BEACH, FLORIDA (Continued) Note 11 Jotnt Venture (Concluded) r t 1 Note 12 The constmction of the outfall lines and disposal facilities were funded by the municipalities in the following proportions: Atlantic Beach 33.06% Jacksonville Beach 55.78% Neptune Beach 11.15% Total 100.00% Each City has rewrded its share of the projxt in its own futancial statements. The City rewrded its portion of the joint venture (approximately 5290,000) in the property accounts of the Ciry's Sewer Fund. The City also recorded approximately 5325,000 of additional property purchased with grant proceeds from the Florida Department of Environmen[al Regulation since the grant for the outfall lines waz awarded to the City of Atlantic Beach. Therefore, the total wst of the joint venture on the City's books is approximarely 5615,000. The project was completed in 1986 and depreciation (using n'3e straight-line method over 25 years) began in 1987. The City of Atlantic Beach provides all accounting and purchazing services for the joint venture. Repair and maintenance of the outfall lines and dispose! of the facilities will be shared by the participating municipalities in the percentages noted above. Repair and maintenance expenses related to the joint venture during 1992 of 564,694 were offset by reimbursements of 539,735 in the accompanying income statements. Commitments Following is a summary of major commitments of the City and contracts in progress az of September 30, 1992: Expended Contrect as of Description Fund Amount 9/30/42 Rehabilitation of wamr Treatmem Plano 1 arM 2: Engineering Enterpriu (Waup N/A 5 154.436 Conssrucrion Enterprise (Waur) f 1,237,124 f 453,496 Certain other lesser amounts were committed on other projects at September 30, 1992. Note 13 - Contingencies The City is a defendant in several lawsuits which arose in the ordinary course of the City's business. It is the City's position that the probability is unlikely that material amounts will ever be payable az a result of these proceedings. 32 1 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULE ' Combining financial statements provide a more detailed view of the 'General Purpose Financial Statements" presented in the preceding subsection. Itdividuzl statements and schedules, although not necessary for a fair presentation in confomtity with generally accepted accounting principles, are presented to provide greater detail and comparative financial information for certain Lund types. 1 i 1 1 1 1 1 i i e GENERAL FUND t The General Fund is the general operating fund of the Ciry. It is used to account for all financial resources, except those required to be accounted for in another fund. I' 1 1 t SCHEDULE OF EXPENDiTURFS BUDGET AND ACTUAL GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH FLORIDA , 1992 1991 ' Variance _ Favorable Budget Actual (Unfavorable) AGUaI ' Expenditures Geceral Government: ' Legislative Personal Services S 23,939 $ 23,074 $ 865 $ 21,769 Operating Expenses 3,312 2,236 1,076 1,590 ' Capital Outlay 0 0 0 1,417 Total Legislative 27,251 25.310 1,941 24,776 Executive Personal Services 96,394 95,582 812 92,755 ' Operating Expenses 7,588 6,739 849 9,794 Capital Outlay 1,000 976 24 997 Total Executive 104,982 (03,297 1,685 ]03,546 ' Finance and Administration Personal Services 236,024 236.021 3 200,756 Operating Expenses 19,726 18,635 1,091 17,553 ' Capital Outlay 591 591 0 6,911 Total Finance and Administration 256,341 255,247 1,094 225,220 Legal Counsel 1 Personal Services 1,752 1,752 0 2,575 Operating Expenses 79,069 79,068 I 116,893 Total Legal Counsel 80,821 80,820 1 l 19,468 ' Planning and Zoe _ Personal Services 51,636 5],009 627 42,860 Operating Expenses 12,970 5.467 7,503 11,236 ' Capital Outlay 0 0 0 2,398 Total Planning and Zoning 64,606 56,476 8,130 56.494 Code Enforcement ' Personal Services 22,018 21,839 179 17,865 Operating Expemes 17,596 17,583 13 9,642 Capital Outlay 643 642 1 0 1 Total Code Enforcement 40,257 40,064 193 27,507 City Clerk Personal Services 60,942 58,259 2,683 52,669 Operating Expenses 20.963 15,578 5,385 9,716 ' Capital t)utlay 12,289 11,557 732 1,550 Total City Clerk 94,194 85.394 8,800 63,935 ' 33 1 SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL GENERAL FUND FOR THE FISCAL REAR ENDED SEPTEMBER 30, 1992 WITH CODSPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA (Continued) Expenditures (Continued) General Government: (Concluded) Other General Government Personal Services Operating Expenses Capital Outlay Grants and Aids Total Other Geueral Government Total General Government Public Safety: Law Enforcenent Personal Services Operating Expenses Capital Outlay Total Law Enforcement Fire Control Personal Services Operating Expenses Capital Outlay Total Fire Control Protective Inspections Personal Services Operating Experues Capita! Outlay Total Protective ImpeMioas Total Public Safety Transportation: Roads and Streets Personal Services Operating Expenses Capital Outlay Total Transportation 1992 1991 Variance Favorable Budget Actual (Unfavorable) Actual S 51,781 5 51,777 S 4 S 17,548 218,106 218,037 69 189,070 923 922 1 0 1,000 1,000 0 500 271,810 271,736 74 207,118 940,262 918,344 21,918 828,064 1,210,135 1,209,509 626 1,1(0,327 115,547 113,934 1,613 135,264 10,282 10,281 1 23,326 1,335,964 1,333,724 2,240 1,268,917 415,569 403,982 11,587 385,708 19,888 41,934 17,949 5<"",212 15,407 8,182 7,225 34,814 490,864 454.103 36,761 472,734 36,737 36,735 2 33,817 5.915 5,910 5 8,997 292 291 1 0 42,944 42,936 8 42,808 1,869,772 1,830,763 39'109 1,784,459 361,482 361,477 5 310,650 196,701 195,879 2,825 189,677 16,334 12,093 4.241 15,839 576.520 569,449 7,071 516,166 34 1 e 1 e 1 i 1 1 SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORH)A (Concluded) Expenditures (Conc(eded) Culture/Recrration: Parks and Rareations Personal Services Operating Expenses Capital Outlay Toro) Culture/Recreatioa Internal Services: Personal Services Operating Expenses Capital Outlay Total Internal Services Toro) Expenditures 1992 Variance Favoreble Budget Actual Nnlavoreble) 1991 ARual $ 52,058 $ 80,431 S 1,627 $ 69,116 65,123 52,326 12,797 63,733 13,433 7,980 5,453 6,970 160,614 140,737 19,877 139,819 95,572 95,570 2 66,949 9,347 9,345 2 12,543 2.817 2,816 1 8,580 107,736 107,731 5 88,072 S 3,654,904 S 3,567,024 S 87,880 $ 3,356,580 35 1 0 STATISTICAL SECTION ' Statistical schedules differ from financial statements because they usually wver more than one fiscal yeaz and may prrent nonaccounting data. 1 1 ' SPECIAL REVENUE FUNDS Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than special assessments or major capital projects) that are legally restricted to expenditure for specified ' purposes. n COMBINING BALANCE SHEET SPECIAL REVENUE FUNDS SEPTEMBER 30, 1992, WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA Asxts Cash and Investmen¢ Due From Other Governments Odxr Receivables Tom! Asuts Liabilities and Fuud Bamn<es IJa70i1ies Acwunu Payable Due so Other FUrMs DeRrted Revenue Touil ILbtlRles Fuud Balances Rexrved For Debs Service Rexrved For Roads arM Sueel ExperMiares Rexrved For Tourism Development RexrveO For Pollee ExperMimres Toml Fund Baances Toml LmbOilies and Fund Balances i.aeol Optlon Cooveotbo Cu Tax Pollee Gnot Devebpment Tas 1992 1991 1992 1991 1992 1991 S 200,030 S 322,244 510,066 S O S 154,169 S 180,071 30,125 29,247 0 0 7,844 5,538 0 0 0 0 0 0 230,155 351,491 10,066 0 162,013 185,609 0 0 431 0 0 0 0 0 6.260 0 0 0 0 0 3_375 0 0 0 0 0 10,066 0 0 0 196,607 157,669 0 0 0 0 33,568 193,822 0 0 0 0 0 0 0 0 162,073 185.609 0 0 0 0 0 0 230,155 351,491 0 0 162,013 185,609 f 230,133 5351,491 510.066 S 0 5162,013 5165.609 36 ~~ 1 1 1 1 e v t 1 r 1 1 1 1 Poving & Drainage g5kee0aaeom Impact Fee Gnats SeeOoo H Pave Grant Torok 1992 1991 1992 1991 1992 1991 1992 1991 S O S 0 S 28.992 f 13.917 571,875 S 0 5405.082 5516,232 0 44,809 0 0 0 0 37,969 79,594 0 10,536 0 0 0 0 0 10,536 0 55,345 28,992 13,917 11,875 0 443,051 606,36? 0 978 0 0 0 0 431 978 0 54,367 0 0 0 0 6,260 54,367 0 0 o o s.9a6 o Iz.zel u 0 55,345 _ 0 0 8,906 0 18,972 55,345 0 0 0 0 0 0 196.607 157,669 0 0 28.942 13.917 0 0 62,490 207,739 0 0 0 0 0 0 162,013 185,609 0 0 0 0 2,969 0 2,969 0 0 0 26,942 13,917 2_969 0 424,079 511,017 S O S 55,345 S 26.942 S 13.917 511,875 f 0 5443.U51 5606.362 36 COMBBVING STATEMENT OF REVENGE, EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FIRYDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992, KITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA 1-otal Option Conreotbo Gas Tu Polke Crnnt Ihvebpment Tax 1992 1991 1992 1991 1992 1991 Revenues Taxes 5368,007 f372,411 f O S O S 30.596 S 24,752 IntergovemmenGl Revenue: Federal Grants 0 0 0 0 0 0 State Grants 0 0 0 0 0 0 Ctty of Jacksonville Gram 0 0 4,897 0 0 0 bteress Lrcome 4,306 6,272 0 0 0 0 Impact Fees 0 0 0 0 0 0 Total Revenues 392.309 378.683 4,897 0 30,596 24,752 Expendiures Gemral Government Pu61k Safety Economic Envirorumm ffotal Expenditures) 0 0 0 0 0 0 0 0 7,650 0 0 0 0 0 0 0 0 0 0 0 (7_659) 0 0 0 Excess (Dtfickncy) of Revenues Over Nader) Expeodimres Other Fvsaucing Sources Nses) Operating Transfers In (Operating Transfers Out) Toml Other FinancfuB Sources Nses) Ettess (DeBcienry) of Revwuez and Other Financmg Sources Ovxr Nader) Expendiures and ONer Fmwcmg Uses Fund Balances - Begbning of Vwr Residual Equity Transfer In 392.309 378,683 2.757) 0 30,596 24,752 0 0 2,757 0 0 0 (517,645) (414,865) 0 0 (54,192) (18.542) (513,645) (414,885) 2,757 0 (54,192) (18.542) (121,336) (36,202) 0 0 (13,596) 6.210 351.d91 367,693 0 0 185,609 0 0 0 0 0 0 179,399 Fund Balances -End of Ywr S 230,155 f 351.491 S O S O S 162,013 S 185,(89 37 1 r r i 1 1 Poving & Drnionge MiueOaneoue impncl Fee GrmO; Section H Pore Grnnt Tolalc 1992 1991 1993 1991 1992 1991 1992 1991 5 0 5 0 S O S 0 S O S 0 5418.599 5397.163 0 168.946 0 0 0 0 0 168.946 1,107 19,429 0 D 0 0 1,103 19,429 0 0 0 0 0 0 4,897 0 0 0 1,000 428 0 0 5,306 6,700 0 0 14,025 12,729 0 0 14,025 12,729 1_103 188.375 15,025 13.157 0 0 443.930 604,967 8,363 19,429 0 0 0 0 8,363 19,429 0 0 0 0 0 0 7,654 0 0 166.362 0 0 0 0 0 166,362 (6_363)(1 85.791) 0 0 0 0 (16,017) (185,791) (7_260) 2,584 15,025 13,157 0 0 427,913 419.176 8,367 0 0 0 2,969 0 14,089 0 (1.103) (2 SBd) 0 0 0 0 (568.940) (476,017) 7,260 (1.584) 0 0 2,969 0 (559,83 I) (936.01 1) 0 0 15,025 13,157 2,969 0 (126,936) (16.835) 0 0 13,917 760 0 0 551,017 388.453 0 0 0' c 0 0 0 179.399 S O f 0 S 28,942 S 13.917 S 2.969 5 0 5424,079 5551,017 37 1 1 1 ' CAPITAL PROJECTS FUNDS Capital Projects Funds are used to account for financial resources to be used for the acquisition or ' construction of major capital facilities (other than those financed by Proprietary Fund Typa). ~ . ~ . . ® s . . ~ . e. . I. . . ^r COMBDVING BALANCE SHEET CAPITAL PROJECTS P11ND5 SEPTEMBER 30, 1992 WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA Assets Cazh and Cash Fquivalrnts Liabilities end Fund Balances Liabititta Contracts Payable Retainages Payable Total Liabilities Fund Balenas Reserved For Section H Unrexrved Total Fund Balances Total Llabllilies and Fund Balances Sectlod H Other Projects Totals _1992 1991 1992 2991 1992 1991 S 51,749 S 234,263 S 29,621 S 120,063 f 81,370 f 354,346 0 591 13,933 120,479 13,933 121,070 0 174,492 0 7,238 0 181,770 0 175,083 _ 13_933 127,717 13,933 302,800 51,749 59,180 0 0 51,749 59,180 0 0 15,688 (7,634) 15,688 (7,634) 51.749 59,180 15,686 (7,634) 67,437 51,546 S 51,749 S 234,263 f 29,621 S 120,083 f 81,370 S 354,346 38 COMBIMNG STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUNb BALANCES CAPITAL PROJEC75 FINDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1992 WITH COMPARATIVE TOTALS FOR SEPTE11iBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA Revrnues (merest Income Miscellaneous Revenue Total Rerrnues Exprndltures Professional Services Other Operating Expenses Construction Contracn (Total Expenditures) Excess (DMdency) of Rerrnaes Qver NsMxr) Expenditures Section H Other Projects Total 1992 1991 1992 1991 1992 1991 _ E 6,476 I 57,603 S 0 2,013 _ 6,438 59,816 O S O S 0 10,793 0 10,793 6,438 S 0 6,438 57,803 12,806 70,609 0 76,309 12,302 44,990 12,302 :21,299 0 2,8U7 0 297 0 3,157 13,869 1,422,590 229,838 1,131,775 243.701 _ 2,554,365 (13,849) (1,501,759) (242,140) (1,177,062) (256,009) (2,678,821) (7,431) (1,441,943) (242,140) (1,166,269) (249,571) (2,608,212) gher Financing Sources (Uses) Loan Proceeds (Loan Financing Costs) 0 0 0 1,179,619 0 1,179,679 Operating Transfers In 0 0 O 0 0 (3,000) 0 (3,000) Total gher Financing Sources Nses) 0 265,462 _ 136,035 265,462 136,035 4 0 - 265462 1,312,559 265,462 1,312,654 Excess (OeBeirnty) of Revenues and gher Financing Sources Over Nnder) F,xpenditures and gher Financing Uses Fund Balacees. Beginning of Year Fund Balances, End of Year (7,431) (1,441,943) 23,322 146,385 15,891 (1,295,558) 59,180 1,501,123 (7,634) (154,019) 51,546 1,347,104 S 51,749 S 59,180 S 15.668 S (7,634) S 67,437 S 51,546 39 ~ ~ ~ ~ ~ ~ ~ ~ ~ i r ~ ~ O ~ ~ ~ ~ ~ 1 1 ENTERPRISE FUNDS ' Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises, where the intent is that the costs (expenses, including depreciation) of providing goods or services to the general public, on a wntinuing bazis, be (nanced or recovered ' primarily through user charges. 1 COMBINING BALANCE SHEET PROPRIETARY FUND TYPES-ENTERPRISE FUNDS SEPTEMBER 30, 1992 WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA Page 1 of 1 Pager Wtler Pend Sewer flld BReme LLer Fend rr D61r44 Sewer FaRO AgM 1992 1991 199! 1991 1971 1991 1992 1991 CaN and Ca9l FquiNCl83 S 036.906 1 10,915 S VBASO S 316,660 5 696.])8 S dU,169 S BJB,JJ2 S 1,510,]91 Inyanwlas a o 0 0 0 0 o n Krwru Re¢iradc 106.)93 9s,n1 199191 n,910 10.956 SJ,ODB 93.1:2 Td,n3 Inmaaies 10,916 08,639 0 0 ],t99 9,8]3 0 0 G9c Frsm 018er Gorcrlvrcaa 0 0 0 0 0 0 11.606 0),889 9prrul wsucarcn Raeivabk ~ Curtca 20,916 21,'191 28,)15 x9.8)6 0 0 0 0 OOrr Curren AveB 29,1 tl 7.91) J8,S10 10,990 0 0 0 0 Rrnria[8 Atuu: Ca,B aN CaN Fqui.il[m5 19.82) )e.n2 '1JD.IlI 92x.961 9]351 U1,139 9J6.]6l L%s.00J Caill in Fxro. and WiN Flual ASeru 0 0 H5.9U5 U5.J61 0 0 0 0 CanlrvniOn in Ro3ras 616.31q 39.113 3.010 0 0 JI,iW 9,920 163.100 Properly. Plvu aN Fquipnwm - Nn 2131.N5 2,310,5% 6,875,983 6.)69,)86 1.700,959 LSSB.I9Z 3.315.189 J.I09JP SSrcial Aim,.xm R[c[iwble ~ Lon3~Term )Ta,]91 1121n 315,951 3)0190 0 0 0 0 IaangiDlc Asset ~ RibW to Fut9r[ Ra[run ~ Nn 0 0 0 0 0 0 0 0 TpalAVlr <,096,%1 3,159,901 9.018,226 9.89.8)9 3,329,n3 2.191,M2 SJ16,92d 3 91x.109 IbD:BIb atl F®8 Fgiq , 12a6dRies Curran Liabilities!Payable Fran Curran AsssOy AUWm, Pi)ablC ald ArcruM LWiliSies 261.)83 79,686 64,508 n,>6J 9],9)1 26,x)9 IIB.IH BJ.059 Cuuarcr [NgosiO ZT1J91 2)'I,nT 0 0 I69,W 136.V3 0 0 Currnll Liabililics?aYNVC Fran Rntriud Ae,eu): Rnrnu Binds PaYabk 0 0 90,000 83.000 32,191 0 I%.109 0 Nan Payable 9.)n 93n 1x.81] 11,817 0 0 0 0 lacrm PlYable Ix.OI] 7,2)8 J9.)6p 37,800 N1.)W 0 52,91] 0 Rnrrue B9NV PayaM[ ~ Collg-Term Palion 0 D 975,000 1,065.pOD 6J1 ~ 693.561 1,291]27 1,]98,])) Nan Payable ~ Ion9~TCrm Portion 1)0.92) a W,293 613.316 658,)91 0 0 0 0 T9W LhGR11es LD29398 9M,JW L9x),66J 1,9)6,611 9)]}91 966,014 LSW,UJ 1181 796 Fend FglilJ - -- , C9npibmWCapital 1.153]61 1.307,)11 I,OJ992( 1, 16L3N 633,016 616,611 1151.9]0 1111.91) Rained Euniny,: RarrM FOe RCnwals alltl R[ylxn:rms 0 x3.bN 165.198 /69,9% 0 IJI.159 666111 1,%S.W3 Rarr[S Fw Ucd Stt.iu 0 0 )32.618 nT.%J C 0 0 0 QDn Rahn D 0 3J7 )35 123.6]7 0 0 0 0 IlnlarrM LW5.6I9 814,189 3.115.168 2.0%.%3 91 ),dJS 55).636 1.678.700 193].%3 TWI I'ae6 F49R1 J.p57.9% 2.HS.Sll 7,190A6J TJ43.%b 1352,031 LAIA36 J.TJ6 691 1 /60 JSx Taal l.iabllRka and Fllltl Tgrtl ~d,p96.%I S~),159,9p1 5-9,018326 9]29,8]0 33 2~]~1 2,191,112 , 5~-JI6,821 . , ~S,Wl,IOg COMBINING BALANCE SHEET PROPRIETARY FUND TYPES-ENTERPRISE FUNDS SEPTEMBER 30, 1992 WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA Page 2 of 2 Pages IJaS xarb9r Dlarkl Winer Fwd Sewer Flmd SINlalinp Flmd Sl6rmwaler Fred TINa6 Awls 1992 _ 1991 -__ 1993 1931 1992 1991 1945 1991 -_ 1995 1991 Cash aN Crib FquirakMa S 1).065 5 Id iN S 161.503 S O S 395,836 S IBLi19 S 6E.W1 S O S 3 ]10 3]) S 1 661 410 Imesmlcas 0 0 0 0 0 0 0 0 , . . . AccwMS RaeiraN< S~J6 ),564 11.491 3,611 ),9)1 ISJ56 0 0 0 OSJ lI] 0 3] Inr<mmin 0 0 0 0 0 0 1.915 Pre Fran QIRr GwcrgneMS 0 0 0 0 0 0 0 46,821 58.1]1 39c<i>f Avecfrrtm Rarirabk ~ CurrtM 0 0 0 0 0 0 0 D U.608 0.889 Wrr CYIR91 AVUU 0 0 0 0 0 0 49.]31 SL6]0 FCVkled Au<u'. 0 V 0 0 0 66,60 IE.E11 Gill aN Ca,b Equira!cros 14.659 1],6)9 yJ,9]I U!16 0 0 0 CsM in Exrm atl 9!N Fsra1 Agcnu 0 0 0 0 0 0 I,]IB.lAI 1.159,102 Commwli9n in ROgress 0 0 0 0 0 0 0 115.903 4)5]61 R9pcnY. %am aN Equipnwnl -Nn IE.409 1:9,136 )69,169 JEB.)52 0 302 998 0 356 )18 0 131 ]93 p 0 610,U)e 15 1 256.Y15 Spaial Av¢amcM Reuirablw Idgdam 0 0 0 D , 0 , . ,180. M 11.>21.199 Iwllgibk Asf<I - Righ! l9 F,%rc 0 0 0 E90,]0 983,913 Rcrenme- Nn 43.126 ]6,9)9 94.540 161.668 0 0 0 0 Tad ASeu 110.]93 iE,II< 693.9]9 S 5]1,06] - SOL]6] 155,29) II0 39) 0 161,666 31 581 01] 111.66] 31 9118 815 IiaGSlln atl:od P.gWy , , , , . I.ia6ili0n Currem Liabilitin (PaYabk Fran CurKM Aiup)' Agalnu Payable aN Aeerved Liabililia 119 163 NB 359 15,968 )]]li ],21] 0 392 60 NIS)19 Cuvgrcr nep9aiu IS.09] 11,919 0 0 0 0 0 0 , 6 Cumrm LNII:f6n (PayaM<Frgn 38.422 403.811 RnUi1c0 wruuY RvcM,c BON, PayablC J,I85 ),U] 6.815 b,Ebl 0 0 0 Nan Payable 0 0 0 0 0 339,900 93.000 191[rm PaYabk ]633 ],51] 15.901 16 08) 0 0 0 0 0 0 8,319 13,119 Reene,e Bolds RYabl< ~ Lollg~T[rm . 0 0 16E,91J 68,]18 Poni9n 3]S.SIi 2]6,]18 589.46E 3%]ES 0 0 0 0 ) ] Nqn Payable-Long4nm Poni9n 0 0 0 0 0 , 62.199 1,012,)110 TWIliatllRln 61,165 bI A31 613,8E 61_)8] 43.96E 0 )1 ]12 0 ] IIt 0 - 0 6116,1]1 I,U8.M9 - Find F9a1] - - _- , . 6.160.86] 6,03],9]6 Con9ibukdCapiul 0 0 0 0 0 Reuirad Firnings: 0 0 0 t,53E.6I4 ],]6),361 RcurrN Fa RcMwl, aN Rrylxnrcnu N.S>I ],5011 )2 )91 0 0 0 R<unN FM [>L61 Scrrkc 0 0 , 0 0 0 0 E]6.3]1 1.666,611 ghcr Rcurrca 0 0 0 0 0 0 0 0 3E,618 33].O)l UnrarrN IIOS.N11 136.81]1 _ 50.]56 11],]10) 0 456.'!99 0 IU.S81 0 2UJ]6 0 0 5)],]33 6 E93 331 IiE.69) 3 610 915 Taal F9tl FN9Bt (90.6]0) - 169,)291 6).119 N]J3U) 656.)99 11].581 311,)16 0 . . 16 200 150 . , 15 854 869 Taal lAabildin and Frtl F9,i1] S 21493 5 253.131 X591.9]9 3 5"ll p6iphi ~-_411.)6) X15519) ~ ~-~ . , 5123.561.01) . . 3I 1.90E.M3 41 O ~ ~ ~ ~ _ ~ ~ w ~ ® ~ ~ ~ ~ ~ ~ ~ ~ ~ COMBBVINC STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS PROPRIETARY FUND TYPES -ENTERPRISE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1992, WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACIt, FLOASDA Page 7 oj2 Pages BovAVeer Rb/rk1 W4Ur - Pend ^ Sewer Pra4d WNp F1md nee Prv6 1992 1991 1992 1991 If92 1991 V92 1»I OpenOne Rnniv --- -- CuvorrcrChargcs f 165,281 S 279,556 f 1,010,995 S 930.!83 S 316.304 S 193.688 S 720,168 696 f BI) Qhes lnwme 10.340 32,56] l76 68,d64 15,170 19,711 bl , dl2 IoW OpenOn3 Rerewn 323,621 312,121 1,941351 998,617 331,tl/ 313,029 720,229 611.126 Openltq Papene -- PcswsulServices 186.969 151,!18 201,/23 203.769 90,115 83.86] 117,09] 695 90 Codncmel5crvius 10,361 12,386 !],803 375,!9] 6.753 12,969 28,092 , 80,216 Supplks M3)1 22,211 60,209 52.676 25.861 28,915 34,595 72 3)8 Repairs vd Mainlemrce 29,192 171,680 116,588 &1,219 8,561 10,741 78.10) , 017 86 Neat, LieM and Power 30,960 74,3]2 154,06] 134,700 67,046 19,218 69,512 , 59,881 Ocprtcution 101,671 92,698 293.373 258,]81 J2, 190 ]0,202 122,98'! 116 961 Amorvrafun 0 0 0 0 0 0 0 , 0 OOrtr Eapnrses M,3/6 IS,J84 66,77) /9,]Ol 18,218 11,059 25,673 H 588 (TOW OpenW,f Rapemn) fO8,g91 (06,1191 (915,93Q 11.118.94]) (285,877) (219,91q (1J3,N5) , (51],118) Openlbg lOCOme (I.m11 $1,185 1164,026) 105,91] 1120,300) 42,592 ]7,058 ~ 291 010 Nanpenlmg Ircorm (Rxpensel , -- Openlirg Gnw 0 0 1,129 0 0 0 0 0 Covccsion Cherges ]8.169 54,060 101,0]1 60,9]0 ],]93 10,940 9,713 20 991 BLMLf Gcrcnuon Cha9lcs 0 0 109.058 101.649 0 0 0 , 0 Inmrtulrc^me 45,906 16,016 116,351 162.601 31,280 39,916 95,318 181.918 IldcrtR Expene) (41,085) (2,278) (IN,69G (112,259) (61.321) (63,856) (123,686) (171J6q (Abar6,rsd Pmja9 0 (SI.6Bq 0 (39.37)) 0 0 0 0 IoW Nenopervliu{Ircome ryspewe) 82,991 11,112 - 195.915 IT6,71 119,4481 IIS,OOZI 121,113) 69,161 Yet t^cv0e Il.ossl lfefort OpenlLg - - Tnsefen 1]O.IA (132,8&) 191,872 56,191 Z3,N9 Sg.036 263,661 165 191 OIMr imancOq Soivtn Nseal , Opcne,g Ttu^hrs In 603,SOp D 303,101 0 )3L6]5 0 59,00 0 (Openting Tnnlm OuO (67,109 (115.3311 p9],399) (]2],120) (178,068) (12,275) (I,d138'0 (11 7061 Tdel0lher ilnaoci[g Semen Nses) 542,09] (113,7 ) _(191,295) (32],!X9 19).601 (11.235) (981.'-701 , 111.7 Nd Irceroe (LOaI 712,270 868,2167 (201,661) (270,921) 216756 JS,dil 818,]09) 35p 183 OepMallo9 on PIaN AssAS AsgWreA 81 , Slered Re2emres Palers1a07 ReAhied Per Capgal ACgiisBbm 55.50 J9,2Z5 121,790 108,367 13,861 15,082 34,995 14 170 Ircrta%(Decrease)10 Rd60ad P1rdugi ]6],617 828,993) (80.6]7) (162,560) 272.6X1 50,903 (683.211) , 381 65) Rm)rN P ro41p, Bedm6q of Yor 83],922 1,066,815 7871,]12 7394.1]2 661,815 637.912 2,988,05 , 2 607 712 Rela4s!A FirrdryF, Pnd of Ynr f L605.6)9 S 83%812 f 3.151.0]9 S J.2l I,]0 S 90,03 5 681,615 f 2304]11 , . 12.9x8.125 42 COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS PROPRIETARY FUND TYPES -ENTERPRISE FUNDS FOR THE Y EAR ENDED SEPTEMBER 30, t992, WITH COM PARATIVE TOTAL S FOR FOR THE YEAR ENDED SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FL ORIDA Page 2 of 2 Pages oak x,rknr Bkfrla Water F'wd Sewer Pwd Sav8a0oe Flmd Slormwrter Fmd Tobb 1992 1991 1992 1991 1992 1991 1992 1991 1992 1991 OpenikB Rere®e _ Cusmmcr Clurges f 35.249 f 28.219 f 90.]67 S 105.961 S 863.268 S ]32,111 S 213,626 f 0 f 3,]83,65] f 3.107,41] Orherlrcome 33.2]7 33,]88 65.665 65.913 26 ]11 0 0 136.891 220.BF6 Taal Openlbf Reresw ]0,522 62.007 156,x18 1]1.93] 883.294 ]52,dJ2 20.626 0 7.912.548 3,424.301 Oprn4irrg Esprmn Penovl SCrvius 0 0 0 0 186.888 353.814 0 0 985.618 884,567 Cnnmrnul Servics 0 2.068 1,6(11 6,295 112,7116 108,]24 2,102 0 209,192 558.135 Supplies d90 765 879 252 09,59 1x.435 0 0 216,1 I0 161.1H Repairs and Maiacvvrs 0 0 2.61] 2.267 71350 34,934 0 0 216,]32 150.230 ileal. LighuM Power 0 0 1.]I I 1,696 0 0 0 0 124,126 251.090 Uryrccclion 6.819 6.820 IB.863 18.490 64,153 51,555 0 0 680 d81 628.330 Amonvarion 31,853 31.853 65.10] 68,14] 0 0 0 0 100,000 100.000 (Mer EZpenus 4]0 619 I )38 2,993 q,]T1 19,099 O 0 191,95] 1]0.613 (iad Openlfq Bapemes) 139.bM) --- (41410 (9L66B1 1101,140) (6980181 (606,Sbi1 (2,101) 0 (2.935,369) (3.100,810 OpenOvglrcam 114rsa) 30,896 20.082 58,760 69,797 185.266 I43.8]I 111 A89 0 1,006,919 119,491 Noroperalkrf laaoe (Eapemel - - - - - OpemingGnnO 0 0 0 0 0 0 0 0 4,319 0 Covarbn CluBCS 852 0 0 0 0 0 0 6 197,100 146,964 Sewer Gercnron Charges 0 0 0 0 0 0 0 0 109,038 100.609 Inxrtst Income 7.060 7.763 10.231 50 9,88] 13,634 1.891 0 316.951 41],]61 (Imertsl Ezpcve) (11 ]JB) (22.9401 (dJ,355) (4],991) 0 0 0 0 (443,5191 f39L0891 (AbartlorcB Prgap 0 0 0 0 0 0 0 0 0 (91.OSD Trial Nompenlbglrcavle (Eapeme) _ (18,8661 (19.ST31 13].11q (4]_943) 9,88'1 IJ.bM 1.892 0 184.025 18].228 Net Inure /1.9n/ Before CpenWB _ Tnmfen 11.020 505 11.636 2L854 193,153 IS],505 20.7]6 0 1,191,000 506720 gher FLnnang S61rtm P1sb) Opcnlir,g Tnndarsb 0 0 160.0011 0 0 0 0 0 1,0]9,196 0 (Opcming Tnnsfars O.~O I33.M11 (19,370) pq]69) (5].882) (155.9351 (118.110 0 0 (1,]M1,31ry (6]5.X0) Taal Other Fnanrhg Somm(Ihn) 153,M11 (19,901 109.131 (9.8811 (133.933) (I 18,1111 0 0 (BOLWO) (6]5.X0) Net Income (Loss) (11.3411 (19,065) 130,86] 136.0161 19.118 39,394 217.3]6 0 349,9]4 (168.5001 Drprahl(on on iLM AsuO Arq,dred B] Shred Resenrcs Ealrrv0] Reslriaed F'ar CapOal Asgavlbm 0 0 0 0 0 0 0 0 128.196 196,860 Increax (Decrcaulb RaavsM FrrnhBS (41.MI1 119,0651 130,86] ()6,0281 39.118 79.)96 213.3]6 0 SJtl,iJO 18.301 Relalord Firrdryp, BegkWog of YOr (49.1291 (30.264) Itl,]20) (11.6921 41],581 3]8,18] 0 0 8.067.306 8.035.001 Rrlained Farrdrrgt, Fnd o/Ynr S (90.6]01 S (49.1291 f 83. H] S (1],]201 S 456,]99 f 41].581 S 113376 S 0 89 601,/]6 f 8.061.305 43 ~ ~ s ~ ~ ~ ~ ~ . e ~ ~ ~ ~ ~ ~ ~ ~ ~ s~ ~ ~ ~ ~ ~ a ~ ~e ~ ~ ~ i ~ ~ ~ ~ ~ ~ COMBINING STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPES -ENTERPRISE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1992, W[TH COMPARATIVE TOTALS POR THE YEAR ENDED SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, ET.ORIDA Page I of 4 Pages Buelaeeer Diarkl WYler Pld Sewer P+d Wv4r Pmd Sewer Rotl 1991 1991 1992 1991 1995 1991 1992 1991 Cad Fbwe ies OprMY{ AghYb Opaad{IrcOOr S n.115 f (161.016) f 105.91] S Ilm.)p) f 11591 3 ]1,056 S 2M.SH 3 19).010 b5mmem 10 R¢a¢ik Opeew4{ lorwrc n Na Cad hmi6e5 B] Operaiom: lkp+aiatimolPWl 101 M m,6% 2%.s>) 251.]11 >1.Im ]0201 123.9n 113.9H Amonbweer bari{Ak A+ttv o 0 0 o a o o a Lluge 4 Awtu - (Isrou) Dmmc Aewu+, hm.de cal?2o )5s3 UussU Uo.1%1 Ix.lsz la.psJ 015m oat%) oaeF~ader GO.mwm+ 0 0 o I,oa9 0 0 »,v1 l1].ee9) Immory ).]I3 1615D a o 1,9)] Nl5) 0 0 oua. c~rrm Aam (z0.lm) 1? %n m,anr ao.a91) 0 0 0 0 Charye w liab'Otb - IRrme (Ibiu+e): AumnPrydk aM Attewd liabillie In.099 36.6)1 (11253) 13.651 61,556 6,IM JS.mS I1.YR Cuwomv Oe9o90 J6.IH 13,1)5 0 0 13.%9 II.IA9 0 0 Nel fid PlmW B>OPaa14{MhYb 1)1.061 15,89 81.013 166.691 309291 ~a],00 161,Ip lw,ip cm 31aa1 n.s NaaePYal PdaaK MleYb - -- CommioaCNrta )3.169 H.Op in.nl p,m0 J,J9J 10.910 9513 m.991 sear ewa.amaeuww o o lo9.os3 ia.b19 0 0 0 0 O9nuiy Leanb 0 0 1.)39 0 0 0 0 0 IO9erBW TnMm Qe b00e Pooa+l laJ.p]) p1.123) 1191,399) QIS,Sn) (136.06p 110.131) (1112631 Ip.JU) Opnniq Tran+lm in Fwv Oder Fio6+ 0 0 0 0 )1.6]5 13.016 59.011 IS.pS I6epa]menolidn Fan Ode+FWO 0 0 0 12,)11) 0 0 0 0 Iom haw6i Rom Odn Fetl+ 0 0 0 0 0 0 0 1.106 Nee Cad Prs+LN 6J 114d 41 NaaoPW ilnar4{MhYb 11,]62 R0.061) 31559 133.005) (%,a00) (112%1 (109.%1) ]541 Cad Maa 9ms GpW >r NWId Plalae4l MI.Yb Colbanrnm Spccul Aw~em 36M9 55.151 SS.a1p m.n3 0 0 0 0 Cauibnwl 0 0 0 0 16.556 0 101.81 0 IProperry. PhnWFquipmlAMitiem) ISp.9n1 In.113) (101.]60) (Ial,n)1 1111.14/1 (I322d) (3452]10 (161,d55J I6ryaJnb+oRrim ComMiuml 0 0 0 0 (13,i6p 0 (103.]IA 0 1Pfirlipv Paymvmw Berl, ntl NOm Prydlel 19,IR) 0 !n.N61 ()5.0001 0 (N.Im) 0 191.6111 Iimcc hit) 116.)161 0 IIIS.n11 fIp.H31 (10.)61) (65.65q (n,%p IIH.J611 IOpeeame Tnn+fm OA a08n FOJ0 0 (11.306) (p5.Xp1 (6151]1 0 0 (16).101) 0 O4nvin{ Traelm in Fm Oder fuM+ fi05.sp 0 mJ.lp 0 Jp,Op 0 0 0 NN Cad ProetlN B101w141 Caput aea pelNe6nner3a3MMM 36.21E f6],36N 1141.)H) fNT6m m.111 (1162]61 (I.I1A.1i9) ()%207) Cd 96w+Pevm 4ad4t MF.Yb - 0nennnemPvrtwaal 0 0 IIO.SM) (16Aiq 0 0 0 0 In¢real~a 15.901 16.016 116.)51 In,p1 112p 19.9ia 93.]M 131.%1 Nn Cad P+a+W3814+e14t MFYb 15.903 16.016 IOS.Sn 116.))1 H.3p )9.916 ~ ill.%6 Nn 4neaw IO+erewl Y CW W Cad Fgd.akah 122.9% 156.15(0 (510.%11 (11).656) 2JS.ln 59,ISi (6m,m2) In,llb Cad aa6 Cai FgWraleal+. Onabr l.If)1 5).6)7 109.Jn 1~J9.52J I.Sn5J9 31161) 165,225 3,H5.>n 3.)51.131 Cad aal Cad P.98.ab1+. &pesM N. 1391 3 06.61) 3 51.6)] 3--906.Sn ~ IA)9,Si) S ]p,pi9 3 SN.60 3 Ln5.W3 2.HS.Jn COMBINING STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPES -ENTERPRISE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1992, WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA Page 2 of 4 Pages Oak Harbor Delrke Water Flmd Sewer FamE SaYNali9o Fymd Sl9rmwaler Paod TWah 1992 - 1991 - 1992 1%1 1992 1991 1992 1%1 1992 199 Ck$lbn irm OPrralln;M}.Yb -_- 1 __.. OPnaundlmmrc S JD.886 S Z0.%Z S 56.]60 S 69.]g1 S 1a5.266 3 10).811 5 MAN S 0 S 1 00 AENPmnYS b Rnarik Opnni^; Irc^mc . 6,919 S 319,(93 m Nn CnY Prmidtl B. Oprrniom. Ikprniubnol Plan 6.619 b,9lp 10881 16.196 61 155 5) 555 0 Annrpmion ollmaryibk ArxV JI,aS) II 951 69,19] 66.10) . 0 . 0 0 0 6609M 616.510 Clw{n in Ann] ~ Ilareur) Yrrrnf[_ 0 IW,O]0 100,000 IL941) 160 0.8831 01 11,121 (8 %51 0 0 Uur From Qhr Gmrrmrxe 0 0 . 0 11;1.5011 (J9,06q Immory 0 U U 0 0 33,}al IlJ,am) Qar Curren Arun 0 0 0 0 0 9,610 I8.N1) Clan;n in I~WilYin. Ircmvc r4crmr5: 0 0 0 o 6).0061 ua.un Ar<wm RYa6k atl ArcmN lia6tlsu 5) 163 b9 1].556) 8.2M 0 69) 9 21] CuYarcr C.pori, ),I]a ),9H O 0 0 , , 0 2a),t1t 106.150 VC Ca$RV.Idtl BJ OPwarly; MhYb Jp.apl _61.211 ll] Ilb.%) IL9 IW 0 191 00 0 Ila 0 32.39( Q6,9)6 LW YOn Prom Ya9mrYJ %06^(100 MFYlu _ - _ . . - - _)01 - 0 1,911,101 _ 1,152960 ___ Com~ation CTa r;n 651 0 0 0 ~ Sr.n (krcrv- Our{m 0 0 0 0 0 0 0 192.200 116,960 Olantin[Gr..... V 0 0 p 0 0 0 109,OSD 106,609 IOprraw[Tramfm Omw06rtr FmMU 111.)611 ^9,llq V 00.]691 0 15).8811 V 1155 %51 0 (Ila llll 0 0 p 1.3H V Opcram9 Tramlm In Rwn Odor Fmba 0 0 0 0 . . 0 1%LRZI (616.1641 I Payaymaaol lovlFm Odor Fmtln 0 0 0 ]13) 82 0 0 0 0 d 90,691 61.651 Imn PraW r Fan O$n Potlr 0 11.61] 0 . 0 0 0 0 0 (25A]01 Nn Ca$ Pn.Ybl B] I3'ad bl NoenplW 0 0 0 0 V 23,D3 HowrY; Mi.Yb 01.505 2.05] 1]0.]69) 191.6151 055.%5) 110 111) 0 Ca$3lowr irce CaglJ atl l4Wnl Pfv:h; . 0 IS]O,MJ) 1101.615) MbYb Colknmr on SpmulAmvrcms 0 p 0 0 Comri6utw.v 0 D 0 D 0 0 91.089 116,]16 IPruprM. Plam artl FquipmnY AOdawnl 0 p p 0 0 0 0 0 119NYI 0 IBenYmmol Prwr CaanMia91 0 0 U 18.0 51 09,160) (151)%1 0 II III,IbJI 05).6161 ePnlcipal Paymru on t'oN+aM Nan PaY$kl O.IJH OR)il p (6.d6i) (b )661 0 0 p 0 IIA.000) 0 Illanrz Patll 121,6611 ID.Ip11 (O.5)]1 (Ib li6) 0 0 0 0 Ill1.117) (DL801) IOpermm.; Tramlm QYb C11Kr FUtlfl 110,069 p 0 . 0 0 0 0 IH),RO (P2.M11 oarrmb4 names In Fram rJ$rr F^m, p p 19J pao p 0 0 0 0 (LJb8.6W1 f121,)lJl NN Ca$ Pro.Wtl B) q:9rd lol G9Ya1 atl - -_-- . p 9 o p I.Jro.6w a YebinliWrcMYMhYb 116.0011 136.2581 IIS.~I 150.9611 16 051 09 1801 (151 %42 ' CM Mn Rom la.elbR MI.Yb . , , 1 0 ~_ 11.0)4. IOq q,)58,00q Ilmevmrmr Po:[6akd1 0 0 9 0 Innnr hart 1060 )H) IO,ZII 50 p 9 881 0 1 0 0 (IO.SH) (16A)11 \:1 e'a$ i'reridrd eJ 6rawA[ MFYb J,OM _ ~ Ip 2ll 50 . 3631 1.84( 0 )16.%l 01],)61 ~N larnw Ilknnrel b e'a$ a9d Ca$ - - . __ - 9.88] - ).bH 1.6% 0 106,011 _ _ 001 i9p igvi.akerr t'a$ atl 1'a$ igai•akmr Omoblr 1 Ifel U.bWI 0Lll3 Q.))J p 101.060 0.116 110,61] 61.1]] M,dW 0 IMI/JA _ __ 110]801) . , Cad and CM igahakmr, Segrmen JO, Btlf ) ],1Zf S __ 4lA f 11.116 ZI6A]6 S 0 IJAI6 S 181.119 I1]]II 0 0 1,630.612 1.916911 195,836 LL 131219 f 68.801 ~ p e159,~]5 S 0.820.613 45 ~~ s ~~ ~~ r~ e~ i~ ~~ ~ a~ a r ~ ~^ ~ ~ ~ ~ ~ s ~ . ~ ~ ~ ~ ~ ~ ~ _ ~ coMBmmc STATEMENT of cASH Flows PROPRIETARY FUND TYPES -ENTERPRISE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1992, WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991 CITY OF ATLAN77C BEACH, FLORIDA Page 3 oj4 Pagea SnlmavT U M)ifi Watt/ P,nd m &~er Fwd Wakr Pmd &~er Pead - 5'a6Wale • Nadi EnsYS, GpIY W F1nveb6 Traebiwe f laal 1993 1993 f9Pe 3951 fm laal Truest kSeaw'M AEI P,r GpW Pefna,FW W WMa]Prm CUenl fN-Tam owpNr aewl GrwP: ~e°°~N~'~ Nda Paye6k ComAae6Cryu1 S O S 0 0 560.151 3 g69.b6p 00.65/1 O S 0 0 I.I3U.61) S (6)I,bq (N9.tl6) O f 0 0 0 3 0 0 O f 0 J 0 0 0 Ntl MeeeM Trasei~ f' O f O f O S 0 i O f O f O S 0 P~~6W SpAI AsuC in Smfw'll' Pre)td faeeW Amens Paeirilk !'gvipnvl Capi01 S O f 0 169.66] S (169,66]1 O f 0 6l1 i/I 3 16]1.261/ O S 0 O S 0 O S 0 0 0 Ntl N°°°V Tr~ll° f O S O f O f O f O S O f O S 0 Netsd OwlN.utla 6f*a* C°^0~ ConuidnN Clpiul f O f 0 O f 0 O S 0 O f 0 O f 0 19,11q f (29,000) O f 0 1).000 (11.000) Net NeevJ Tea®etYO f O S O f O S O f O f O f O f 0 A6aedeeed PraR13 ~'ei Manue f O f (31.666) f O f p9a)p f O f O S O S 0 COMBINDiG STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPES -ENTERPRISE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 1992, WITH COMPARATIVE TOTALS FOR THE YEAR ENDED SEPTEMBER 30, 1991 CITY OF ATLANTIC BEACH, FLORIDA Page 4 of 4 Pagea Oat 16r6ar Dhhicl Wtlar FSvtl Sewrr Sued SaoYalbe Rd 99rmwtler F7d Taub s99z vsf s99z f9a1 im f9a s99z ssaf s9n t»f sa.emr a Nara l.•P+ea. Gqw W - -- sivaady T~rnl.n Tnolry al5mba "fi" Ar Pray Gyaai afalae Paea W fiat Wi Irr Ceanl f.wa-Tes OWpir Mar Gravy: s,uiie •x•Am.. s o s o s o s o s o S o s o s o s o s t.cso.nl Naa Pryabk 0 0 0 0 0 0 0 0 0 (1,160.901) CoveuN Capiel 0 0 0 0 0 0 0 _ 0 0 019,1611 Nn Nwe+TnrxM S O S O f O f O S 0 S O S O S 0 2 O f 0 P1a60! Sy,tlal Asn1 Pat Sedbe "x" PaaSw1 apxul Aanwma Rarira6k f O S O f O f O S 0 S 0 3 O f O S 0 S 1.160,901 Caa,ibnN GPYI 0 0 0 0 0 0 0 0 o p,160.90a1 NN Naeui Traeseb S 0 3 0 f O f O s 0 3 O f ~ O S O f 0 3 0 Prtwd DxtlN AR4 Aoas Co9vi6wa6 f O f 0 2 O f O f 0 S O f O S O S O S 6i,9pp Comib~d Gp++l 0 0 0_ 0 0 0 0 0 0 (6i."MAO Ne Namd Traev[Ibs S O f O S O S 0 2 0 S O f -- O f O f O f 0 A6veleud Praye,i EkarL Mmw S O S O S O S O f 0 f O S O S O S O S I9I,D6)1 47 I- ~ i ~ ~ ~ ~ ~ ~ i ~ ~ r• ~ ~ ~ ~ ~ ~ ~ COMBINING BALANCE SHEET FIDUCIARY FUND TYPFS ALL FIDUCIARY RUNDS SEPTEMBER 30, I99Z, WITH COMPARATIVE TOTALS FOR SEPTEMBER 30, 1941 CITY OF ATLANTIC BEACH, FLORIDA Pennon Trml - Rapmde6k Truss A8me2 - IC81A Tata6 ~ 194t 1991 ~1 93 1§31 - IT -~ Avets Casb aM CasM1 Fquiraknu S {5,156 f 8].12{ S 12.19{ S 1].616 S 109,926 f 9/.512 f IB],2]b 5 102.252 Inv<nmcw l,b0U6) L98J.130 0 0 0 0 3,601,]63 2,981,130 One Fmm Otlxr Cunmmcnn 0 0 0 275] 0 0 0 2.757 Olher Rcceivabks 0 0 0 Id0 0 0 0 100 Taal A4ae41 3.646.919 7.0'/0.256 31.141 10.513 109,416 ~] 3,]89,019 3,188.2]9 Iu6081es and Puud BYaan I/abORb Accwas Para6k Dchrred Compcwwn Taal Wbmlks Fud Balvem ReurvW For Pnlicc Traini~ aN Investigations Rexrvcd For Rcrirtmca Taal Fwd Rahocn Taal I.4abORb and Fund Balavca 0 0 68 125 0 0 bR 125 0 0 0 0 109,926 9].312 109.926 91,512 0 0 68 125 109,926 9].512 109.99/ 97.637 0 0 ]2,126 20,788 0 0 72.126 X1.388 3.646.919 7.070.250 0 0 0 0 1,6/6,919 3,0]0,254 3,646.919 J.WO 150 72,126 20.788 0 0 ),679,045 ),090,612 f 7.616.919 f 3.0'!0.254 f 72.194 S X1.517 f 109,426 f 9].512 f 1,789,039 f 3,188,279 48 PENSION REVENUES BY SOURCE AND EXPENSES BY TYPE LAST TEN FISCAL YEARS CITY OF ATLANTIC BEACH, FLORIDA un 6mam1 IRraed 3391 1990 1969 1588 1987 5986 1985 1981 1983 ft~on Re]esnsn Com~~uons: Mcm6er f 21,]1] 4.2% f I4.R] S 21.510 S 18,]10 f 12J3] S d,205 f O S O f O f 0 Ciry 201,368 JOJR 148,438 01,508 110,106 126)10 ]6,881 ]9,518 81,736 ]4,688 67,939 Sole-^dice 01,691 6.3R q,109 40,059 38,3]6 35,140 I2,61f 25,216 21,21] 18.671 15 137 fu¢-FirtfiBhrcrs 19,118 2.9R 16.013 IO,d63 10,603 12.598 10,39] 9,d1] 8,201 16.836 . 5 246 Inresorcm lmertv aM DirideMs J. VO .SR ],863 3.401 11.867 8,19] 101,619 IU,340 119,2]2 103.018 , ]19 91 Cain or lSAlvl 368,631 53.0% 419,589 09.]91 268,12] 60,61] 0 0 (1/,536) 0 , 0 ToW PenYOO Reresvv S 661.900 100.0% S 691,469 S 269,]91 S 085,983 S 255,619 S 318,]19 S 328.521 S 195,505 f 211,223 S 1]6,02] Rnslon P~pen88urd Bcrc6ns Pail f 89,3]5 IOO.OR S 89,899 S E9,610 S 83,538 f 62,810 f 33.]96 f 50.]92 S 09,368 S 40.311 f J0.89f 49 COMPUTED PENSION CONTRIBUTION COMPARATR'E SCHEDULE , LAST TEN FISCAL YEARS ' CITY OF ATLANTIC BEACH, FLORIDA Fiscal Contrlbutioa Rates Year Valuation As Percents of Dollar ConMbu[ion Ending Date Valuation Payroll Valuation For Fiscal Year 9/30 9130 General Police Fire Payroll Computed Actual ' 1984 1982 9.36% 12.38% 13.23% S 781,763 5 91,451 S 110,175 1985 1983 9.31 11.61 11.85 892,194 100,690 110,759 1986 1984 9.53 14.39 15.06 930,007 119,857 114,181 ' 1987 1985+ 9.17 9.15 7.71 1,138,958 111,880 119,895 1988 1986 9.24 8.36 7.84 1,271,843 122,759 ]74,478 , 1989 1987' 9.69 10.32 10.49 1,454,243 158,314 167,285 1990 1988' 9.20 11.55 9.36 1,716,170 184,687 186,050 1991 1989 9.27 11.76 7.16 1,909.994 202,961 209,590 ' 1992 1990 9.89 12.77 8.85 2,295.583 264,753 264,380 1993 1991• 9.27 11.15 6.46 2,491,992 255,488 N/A ' Aker cha nges in benefit provisions and/or actuarial experience esCunates. 50 n ANALYSIS OF PENSION FUNDING PROGRESS LAST TEN FISCAL YEARS CITY OF ATLANTTC BEACH, FLORIDA ' (6) (2) Unfunded PBO Fiiscal (1) Pension (3) (4) (~ u a Percentage Year NN Assets Benefit Percent Uutuaded Amual of Covered Fading Available Obligation Funded PBO Covered Poyroll 9/30 For Benefits (PBO) (1)/(2) (2)-(1) Payroll (4)/(5) ' 1982 E 876,000 914,000 96.1% S 36,000 S 762,000 4.6% ]983 1,023.000 1,012 101.1 (11,000) 892,000 0.0 1984 1,196,000 N M A 930,000 R ' 1965• 1,342,000 1,221,1%10 109.9 (121,000) 1,139,000 - 1986 1,520,000 1,341,000 113.3 (179,000) 1,278,000 - ' 1987+ 1,694,786 1,703,236 99.5 8,450 1,454,243 0.6 1988• 1,866,635 1,917,709 98.5 29,074 1,716,170 1.7 1989 2,293,223 2,199,374 104.3 (93,849) 1,909,994 - 1990 2,466,544 2,565,465 96.2 98,921 2,295,563 4.3 ' 1991 3,070,254 2,821,663 108.8 (248,591) 2.491,992 - ' q Not available from ECS, Inc. actuarial valuation report. • Aher changes in benefit provisions aid/or actuarial experience estimates. 1 Analysis of the dollar amounts of net azstts available for benefits, pension benefit obligation, and t unfunded pension benefit obligation in isolation can be misleading. Expressing the net assets available for benefits az a percentage of the pension benefit obligation provides one indication of the system's funding status on agoing-concern basis. Analysis of this percentage over time irdicates whether the ' system is becoming fituncialiy stronger or weaker. Generally, the greater this percentage, the stronger the system. The unfunded pension benefit obligation and annual covered payroll are both affected by inflation. Expressing the unfunded pension benefit obligation as a percentage of annual covered payroll ' approximately adjusts for the effects of inflation and aids analysis of the progress being made in accumulating sufficient azsets to pay benefits when due. Generally, the smaller this percentage, the stronger the system. 51 ~ Gay 8 S ~ Comr~< 1 INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL STRUCTURE RELATED MATTERS NO'1•ED iN A GENERAL PURPOSE FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVEIWMENT AUDITING STANDARDS, AND hfANAGEMENT LETTER Honorable Mayor, City Commission and City Manager Cit}• of Atlantic Beach Atlantic Beach, Florida f We have audited the general purpose financial statements of the Ciry of Atlantic Beach, Florida for Ne year ended September 30, 1992, assd have issued our report thereon dated March i8, 1993. We have conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States, Those standards require that we plan and perform the audit to obtain reazonable assurance about whether the general purpose financial statements are free of materizl misstatement. In planning and performing our audit of the general purpose financial statements of the City of Atlantic Beach, Florida for the year ended September 30, 1992, we wnsidered its intemal control stmcure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statemens and not to provide azsurance on the internal control structure. The rnanagemem of the City of Atlantic Beach, Florida is responsible for establishing and maintaining an internal conrol stmclure. In fulfilling this responsibility, estimates and judgments by management art required to assess the expected benefits and related costs of intemal wntrol simcmre policies and procedures. The objectives of an intemal control s[nrcmre are [o provide management with reasonable, but not absoime, assurance that assets are safeguarded against loss from unauthorized use or disposition. and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted aceouming principles. Because cf inherent limitations in any internal control swcmre, errors or irregularities may ' nevertheless oceur and not be detec'ed. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. Certified Public Accounlanis ' P O. Buz 13999 • 222 RE. Is151ree1 • Gainesville. florlda 724n2 • 19041 3]B-24GI Laurel Hu1R<' Pro(essionai Crnler • 2347 5.6 tJlh Sue[9 • (kala. Florida 744]I • 19041 i 32-38]2 lit i Netlmunl Dove. [art, Suite 2 • Tallahassee, Florida 72712 • 19!141 7&1.0114 .,,.er. ..,..nrx.,.~~•re.n..wv~,o.rr ,,. n.~~r..ulron ei. ers.,svs •i~~lY/~\i~1nl,Il ~M tl¢I:IIILRa1TA t •n ran~+n'.i{tn~1~11l RAf l:,I N/Ix~'.a Honorable Mayor. Ciry Commission and City Manager City of Atlantic Beach ' Atlantic Beach, Florida INDEPENDENT AUDITORS' REPORT ON ' INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A GENERAL PURPOSE k7NANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOf'ERNMENT AUDlTTNG STANDARDS, AND MANAGEMENT LETTER (Continued) For the purpose of this report, we have classified the significant internal wmrol structure policies and procedures in the following categories. ^ Customer billings and Receivables ^ Cash Receipu and Disbursements ^ Investments ^ Purchasing and Accounts Payable ^ Fixed Asset Record Maintettance • General Ledger Afaintenance ^ Debt Administration ^ Budgets For all of the wntml categories listed above, we obtained an understanding of the design of relevant politics and procedures and whether they have been placed in operation, and we assessed control risk. ' We noted certain matters involving the internal control strucmre and its operation that we consider to be reportable conditions under standards eswblished by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the City's ability to record, process, summarize, and report financial data consistent with the azsenions of management in the general purpose financial statements. i.* Utility customer accounts receivable and deposits are not being reconciled to the general ledger. Such a procedure is a necessary control check to azsure the collection of all motues due the Ciry from U,e customer and reduce the possibility of undetected billing or posting errors. We recommend that the manual zceounts receivable and subsidiary customer deposit balances be reconciled to the general ledger or other conrol totals monthly and the 1992 shortage be investigated to determine the cause. ' 2. The balances in the City's payroll and operating cash bank accounts were not rewnciled to the book balances on a timely basis during 1942. Significant differences existed between the year end bank and book balances when we completed field work in January, four mm~ths after year end. The City's accounts payable detail was also not reconciled to the control accounts at the end of field work. The items have since been reconciled. ' S7 Honorable Mayor. City Cortvnission and Ciry Manager City of Atlantic Beach ' Atlantic Beach, Florida INDEPENDENT AUDITORS' REPORT ON ' INTERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A GENERAL PURPOSE FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS, AND MANAGEMENT LETTER (Conrinurd) e 2. (Concluded) The failure on the City's part to perform these reconciliations on a timely basis rduced efficiencies on the audit, causd delays in the release of aaurate financial information to the City Cortunission, ' and increazd the risk that significant errors or irregularities could have occurrd and not been detectd in a timely runner. We realize that the change in Finance Directors and the time involved in adapting to the new computer system wntributd to these delays. However, because of the importance of these procedures, we recommend in the future that all cash and accounts payable rewnciliations be wmpletd and rcviewd within ten days after each month end. 3. The City does trot have a subsidiary listing for Section H special assessments receivable which ' balances to the general Idger nor a means of tracking activity in individual assessment awounu. We recommend the City purchase or develop a special assessment software program to track the activity and balances in all special assessment accounts. A material weakness is a reporuble wdition in which the design or op.^ration of one or more of the intemal control structure elements does not rduce to a relatively low level the risk tfut errors or ' irregularities in amounts that would be material in relation to the general purpose financial statements being auditd may occur and not be detectd within a timely period by employees in the normal course of performing their azsignd functions. Our wnsidera[ion of the intemal wntrol structure would not necessarily disclose all matters in the internal wntrol structure that might be reportable mditioms and, accordingly, would not necessarily disclose all ' reportable conditions that are also considerd to be marerial weaknesses az defend above. However, we believe the reportable conditions described above are material weaknesses. The following comments and rewmmendatiotu are not wnsiderd by us to be material weaknesses but are set forth to comply with the Rules of the Auditor General, State of Florida: 4. The City's quarterly payroll returns for the period ended September 30, 1992, which were due October 31, 1992, were not wmpletd until January 1993. Penalties accme to the Ciry for late submission of these reports. It is essential that all payroll remms be fild timely. ' S. Difficulties encounterd in implementing the City's new wmputer system contributd to the problems identified above and on the prior page. Although the new system appears to adequately satisfy the City's reds, it does not appear that City persom~el fully understand the rapabilities of the wmplex system or what information is available or nedd to perfotm old duties a new way. We rewmmed the City evaluate the cost ad benefits of additional training or azsistance. S8 1 i Honorable Mayor, City Commission and Ciry Manager City of Atlantic Beach Atlantic Beach, Florida INDEPENDENT AUDITORS' REPORT JN A'TERNAL CONTROL STRUCTURE RELATED MATTERS NOTED IN A GENERAL PURPOSE FINANCIAL STATEMENT AUDIT CONDUCTED IN ACCORDANCE WITR GOVERNMENT AUDITTNG STANDARDS, AND MANAGEMENT LETTER (Concluded) 6. • Certain adnnistrative and overhead expenses of the Ciry are charged entirely to general government services in the General Furl. Transfers are made from the Enterprise Furls to the General Futtd to rover the Enterprise Funds' share of these vests, but such transfers aze not included in the operating inwme or loss of each fund or department. We rewmmend that the transfer method of allocating administrative and overhead vests among funds and departments be diswntinued in favor of direM chazges to each fund and department for such vests. >n addition, the allocation of such cost will faciliute the wmputation of debt service wverage ratios, as required by various revenue bond ordinances. Prior year wmments and rewmmendations, unless otherwise indicated, have been resolved to our Satisfaction. The City's financial 2eports filed with the Department of Banking and Finance for the fiscal year ended September 30, 1991 are in agreement with the annual fuancial audit report for the same period. The 1992 report has trot yet been prepared. There were no irregularities, illegal expetaiimres or wmpliance violazions unwvered during the current audit. The new Auditor General rule relating to the disclosure of financial emergencies is not applicable. Other requirements of the Rules of the Auditor General, if not addressed above, are not applicable to the City of Atlantic Beach, Florida. This report is intended for the irfortnation of the City Commission, management and the Auditor General of the State of Florida. This restriction is not intended to limit the distribution of this report, which is a matter of public rewrd. ' March 18, 1993 Gainesville, Florida Indicates a repeat of a prior year rewrttmendation not wrnpletely wrreaed. 59 ' ADDITIONAL ELEMENTS OF REPORT PREPARED IN ACCOTcDANCE WITH GOVERNMENT AUDITING STANDARDS, ISSUED BY THE COMPTROLLER GENERAL OF THE UNITED STATES, AND THE RULES THE AUDITOR GENERAL OF THE STATE OF FLORIDA i 1 1 i i 1 1 ' G ~Y ~ Company 1 e INDEPENDENT AUDITORS' REPORT ON SCHEDULE OF FEDERAL AND STATE FINANCIAL ASSISTANCE ' Honorable Mayor, City Commission and Ciry Manager City of Atlantic Beach Atlantic Beach, Florida ' We have audited the general purpose financial statements of the Ciry of Atlantic Beach, Florida for the year ended September 30, 1992, and have issued our report thereon dated March 18, 1993. These ' general purpose financial statements are the responsibility of the City's management. Our raponsibility is to express an opinion on these general purpose financial statements based on our audit. ' We conducted our audit in accordance with generally accepted auditing swtdards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reazonable azsurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a tat basis, evidence supposing the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, az well az evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for ovr opinion. Our audit waz conducted for the purpose of forming an opinion on the general purpose financial statements of the City of Atlantic Beach, Florida taken az a whole. The accompanying Schedule of Federal and State Financial Assistance is presented for purposes of additional analysis and is not a required part of the general purpose financial statements. The information in that schedule has been ' subjected to the auditing procedures applied vt the audit of the general purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken az a whole. ' March 18. 1993 ~j(~ Gainesville, Florida SIJJ.rvlitrel, ~~ ?/l1lL~ ~°'' ~~ i 1 Certified Public Attounlanis ' BO. Bow 23999 • 222 N.E. Isr Street • Gainesville, Florida 32602 • 19041 378-2461 laurel Rrdge Prolesvonal Censer • 2347 S.E. 17th Street • Ckala. Florida 34471 • 19041 IR-7812 ids i Piedmont Drive Easl, inile 2 • Tallahassee, Honda 72312 • 19041 SBi-OiiJ rv9ltc( NVRNw\\\Ollrni!)A•\}iIl i(Slir ((Rnnil)~[IN A/ \i5 +iv-rYrN Ax44Nn\i\4nllIflM(IRniilIlR9~.NA/(/Y.\IA\itiillll![rnW1\i•SA JSIf 2+LiNL S(tixi\'. ~ ~ ~ r r ~ ~ ~ ~ ~ ~ ~ ~ ~ . ~ . o ~ SCI~GULE OF FEDERAL AND SPATE FINANCIAL ASSISTANCE FO4 TIIE YEAR ENDED SEPTEMBER 30, 1992 CITY OF ATLANTIC BEACH, FLORIDA Peden! PhvmW Aaablaoa V.S. Deprlmea of Homhrf ad Urhao Derebpnem Paced Thmagh City of la<ksonr8k. Florida: Comnurtiry DercWP:rcm Bkc4 Gnn:'Gtitlcmcm Gnn Connurdry Devcloprcm Bbc4 GranYF.midcmem Gnm 1oW US. f/eprfmnl of Navoog sad Ur6n Dcrebpxd U.S. Depr~e~ of Jnike Puscd Thmogh City of lacksonrOk, Fbrida: Ami-Dmg Abure Gram (NFA"G Ami-Dmg Abuu Gram (PAVE) TWd U.S. D[Wrtmttlf orlmeitt ToW PedeN Simvdal AeMarce Stale Plmockl AadYane FbrWa Deprlmert of Cammm8l Maln AmrW Raaelrabk Peden) (Accol~5 (Deferrtd Prbr Ynr CODA Peas-Tlvovgh Award ReakaNe) Rn®e) PspYlmn N®ber Gravmr'a Nwber Amwd Iw191 Rectlpf ALlth ~ pewdilvn) 911092 (M®o) 11.N8 i:n2-) f 198,9rA S f~5,3801 f 25,095 S O S x83 Iil i O f iGe.,916 16.218 SL92-i f 113,1]9 0 0 0 0 0 0 QS,380) 25.075 0 285 0 168.916 16.5]9 Nora: S 11,029 0 8,2]2 2,]57 (],651) (3,3]5) 0 16.579 None S 11,8'/5 0 8,906 0 0 (8.906) 0 0 I1,U8 2.15] 1].65{) U2.28)) 0 S 125,)80) f 62,213 f 2,]5] f f],M9) f !12,281) f 168,916 N/A 91-LP-3401-2602-002 S 20,300 f (19,129) S 20.532 S O f (1.103) f O f 19,129 Notes: [q Expenses were recorded in the prior year which were not reimhursed from this grant. 53 zany 0 1 INDEPENDENT AUDITORS' REPORT ON COMPLUINCE WITH LAWS AND REGULATTONS BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL. STATEMENTS PERFORMED W ACCORDANCE WITH GOVERNMENT AUD/T/NG STANDARDS Honorable Mayor, City Commission and City Manager City of Atlantic Beach Atlantic Beach, Florida We have audited the general purpose financial saterens of the Ciry of Atlantic Beach, Florida as of and for the year ended September 30, 1992, and have issued ovr repott thereon dated March 18, 7993. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by fie Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable azsurzncc zbce! vh'Ser the g^eral purpose financial statements are flee of material misstatement. Compliance with laws, regulations, contracts, and grants applicable to the Ciry of Atlantic Beach, Florida is the responsibility of the Ciry's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are frce of material misstatement, we performed tests of the City's compliance with certain provisions of law;, regulations, contracts, and grants. However, our objective was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. The results of our tens indicate that, with respect to the items tested, the City of Atlantic Beach, Florida ' complied, in all material respects, with the provisions referred to in the preceding pazagraph. With respect to items not [ested, nothing came to our attention that caused us to believe that the City had not complied, in all material respects, with those provisions. This report is intended for the information of the City Commission, management, and the Auditor General of the State of Florida. This res[riction is not intended to limit the distribution of this report, which is a matter of public rewrd. March I8, 1993 Gainesville. Florida ~.t.~Lw,/ ~ ~ qy/d -~°mP~"~ Certified Pu61ic AccounlaNs ' PO. Rox 23999 • 222 N.E. Isl Slrt<I • Gainesville, Florida 32602 • 19041 378-2461 iaurcl Ridge Proiessronal Center • 2347 S.E. I7th Svee1 • (kala, rlorida 34th 1 • 19041 ]32JB72 141 i Piidmonl Dave, Easl. Suilc 1 • Tallahasstr, rlonda 32312 • 19041 38i~055d m,.,elus,• n.ae..vn.n no•:vAivvimnsr„ uvnmor. a,x ul,n vInvrs v!1~'9FY ~I AV1Vi A\n51il,ilt/IIYIJiinhBlN A!(r„\11\IlrA:l'111 (,nLLA\~1a 1\0511 IR rYI HI INnt 1 INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH LAWS AND REGULATIONS BASED ON THE REPORT ON THE SCHEDULE OF STATE ETNANCIAL ASSISTANCE PERFORMED BV ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Honorable Mayor, City Commission and City Manager City of Atlantic Beach Atlantic Beach. Florida We have audited the general purpose financial statements of the Ciry of Atlantic Beach, Florida as of and for the year ended September 30, 1992, and have issued our report therwn dated March Ig, I993. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. Compliance with laws, regulations, wntracts, and grants applicable [o the City of Atlamic Beach, Florida, including those state grants listed in the Schedule of Federal aM State Financial Assistance, is the responsibilin• of the City's management. As pan of obtaining reasonable assurance about whether the state financial azsistance wntained in the Schedule of Federal and State Financial Assistance is free of material misstatement, we performed tests of the City's wmpliance with certain provisions of laws, regulations, contracts, and grants. However, our objective waz not to provide an opinion on overall wmpliattce with such provisions. Accordingly, we do not express such an opinion. The results of our tests itdicate that, with respect to the items tested, the City of Atlantic Beach, Forida complied, in all material respwts, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the City had not wmplied, in all material respects, with those provisions. This report is intended for the information of the City Commission, management, and the Auditor General of the State of Florida. This restriction is not intended ro limit the distribution of this report, which is a matter of public record. March I8, 1993 Gainesville. Florida Certified Public Attounlanls Y.O. nox 23999 • 222 V.E. Ist Sve¢I • Gainesvdle. Florida 32602 • 19(N13ia-24fi1 ' Laurel ftulge Professional Censer • 2347 S.F. 7]Ih Areet • Ocala, Florida 344]1 • 190E 732J9]Z 141 i Piedmom Drive. Easl. Suite 2 • Tallahassee, Florida 32312 • 19041 79S-Oi 54 Ml~,ervS[Mn,~f4'l•\•\I~rLrrglU~l~ai:l, llsr•CIRliI:/UrtRI+v ~:5 ' .l•trIR~M AM94 ~v1\trlll l!<rifI41~1111,Y.6tl~(l,µ CIA\f5>4n1(!C/MV1~~l1~~UStr Vier ll((V!IV,~c