Audit Report - 1973-1974i
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TYSON and EVANS
CERIflED TUNIC A[LOCMAMS
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~G~~ c~a.~ ~~¢~
C ~ C~a~,~
CITY OF ATiANTIC EEACR, PIARIDA
AUDIT REPORT '
September 30, 1974
CITY OP ATLANTIC REACH, FLORIDA
1NDEA TO REPOR7
September 30, 1974
Page Number
Certiff cafe Letter 1
General Pund 2 - 8
Hater Accounts - Operations 9 -12
U[ility Revenue Bortd Pund 13 -15
Sever Pund 16 -19
Police Court Coe[ Pund 20
1971 General Obligation Sewer Bond
Sinking Pund 21 -23
Notes to Financial Statemen[e 24
Auditors' Comments 25
TYSON and EVANS
CE0.TInED NBIIC ACWVNTANIS
' XR TX10.n S]A EfT, SVRE l
NEPTV NE BFACN. TLO0.IDA )n )1
N, LTATON TYSON. CP.A WIEN]Nt
'
ouaEES a [VANS, con October 15, 1974 v.o. eoz suuanw
To [he City Commission
City of Atlantic Heach, Plorida
Gentlemen
We have examined the financial statements of the various funds
of the City of Atlantic Beach, Plorida, as of September 30, 1974,
and the related atatemen[e of cash traneac [ioE]s for the fiscal year
then ended. Our examination vas made in acco[dance vi [h generally
accepted auditing standards, and included each testa of the accounting
records and other auditing prpcedutes as ve considered necessary.
The City has adopted a fiscal year ending on September 30, as
nw required 6y the Stale of Plorida.
In our opinion, the at [ached statements present fairly the finan-
cial positions of [he various fuMa of the City of Atlantic BearL,
Plorida, a[ Septa®er 30, 1974, and the related cash [ransae tione for
the fiscal year then ended, in conformity with generally accepted
accolm[Sng principles applied on a conaiatan[ basis vith previous full
accounting years.
The "Auditors' Comments" submitted herevi th in compliance vi th
Section 4, CFlapter 71-218, Plorida Statutes ie not included vi thin the
above certification.
Respectfully submitted,
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CITY OF ATLANTIC BEACH, PLORIOA
GENERAL FUND
FINANCIAL POSITION
September 30, 1974
RESOURCES
Cash on Hand and in Bank - Page 3 $228.417.
Savings Account - Jocdan U[Ility Escrow 714.
Taxes Receivable - Page ~4 33,549.
Lot Clearing Liens Receivable - Page 4 401.
Assessments Eor Demolition - 1968 1,747.
Assessments for Tree Removals 395.
IOTA. FSO R $265.223.
OBLIGATIONS AND FUND BALANCES
Ob li ga[fons
Un remit ted Payroll Deductions $ 1,895.
Utility Escrow Accounts 714.
Unexpended Park Clearing Funds Received
From Developer 5,225.
Due [o Sever Fimd J50.
TOTAL 08LI CATIONS $ 8,184•
Fwd Balances
Reserve for Uncollected Resources $ 36,092.
Available Eor Appropriation 220,947.
TOTAL FVh71 BALANCES $257,039.
tOTAt OBLIGATIONS and FUND BAthNCES $265.223.
The accompa ny Sng Notes to Financial Statements and "Auditors' Co One n[s" are an integral
par[ of this report.
Pa gc 2
CITY OP ATLANTIC BEACH, FLORIDA
GENERAL FUND
CASH RECEIPTS AND DTSBURSENENTS
FISCAL YEAR ENDED
September 3D, 1974
Cash Balance at September 30, 1973 $100,668.
Add:
Revenue Receipts - Page 5 $752,679.
In [e rest on Time Certificates 2,925.
Reimbursement - Federal Grant 107,400.
Unexpended Park Clearing Funds
Received from Developer 5,225.
Due [o Sever Pund 350.
Unremitied Payroll Deductions 318. 868 897.
TOTAL CASN AVAILABLE $969,565.
Deduct:
Returned O~ecka on Hand 35.
Budgeted Expenditures - Page B 741,113_ 741.148.
Ca h B 1 at S p[ mb 30",974 $228.417.
Coos ition of Cash Balance at Sep [ember 30, 1974
Southeast Pi rs[ National Beach Bank $ 28,720.
Payroll Bank Account 1,895.
Cash on Hand 1.325.
Time Certificates - Ocean Sate Bank 170,928.
Time Certificates - Southeast P1 ret
National Beach Bank 25,949.
TOTAL Sne.cv.
The accompanying Noces to Financial Statements and °Audi tors' Comments" are an
integral par[ of this report.
Page )
CITY OP ATLANTIC BEACH, FLORIDA
GENERAL FUND
September 30, 1974
TAXES RECEIVABLE
REAL ESTATE
Year Assessed
1973
1972
1971
1970
1969
1968
1967
1966
1965
1964
1963 d Prior
PERSONAL PROPERTY
Year Asaesaed
1973
1972
1971
1970
1969
1968
7UTA1_ TAxcS RECEIVABLE
S 4,833.
6 , 710.'
4 ,627.E
7,054.
2,664.'
2,620!
1,864:
1,846./
1.771. ~'
318./
1,270.
$ 108.
861.
230.
214.
276.
281.
S 31,579.
$ 1.970.
$~~~.
LOT CLEARING LIENS RECEIVABLE
Year Assessed
1973 $ 50.
19J2 170.
1971 80.
1970 30.
1969 20.
1968 20•
1967 19.
1966 _ 12.
TOTAL T C< ARIN IEli C IYABLE $ SQj_
The accompanying Notes [o FS nanclal Sta [e men is and "AUd1 [o rs' Comments" are an
Sncegral part of [his report.
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CITY OF ATLANTIC BEACH, PLORI DA
GENERAL PUND
REVENUE RECEIPTS
ESTIMATED AND ACTUAL
FISCAL YEAR ENDED
September 30, 1974
Account Es [imated Actual
100 Revenue Sharing S 81,982. S 98.022•
101 Ad Valorem Taxes - Current 82,951. 79,944.
102 Ad Valorem Taxea - Prtor 31,906. 2,414.
103 Personal Properly Tax 7.000. 10,886-
104 Pines and Forfeitures 37,000. 54,089.
105 Permits -0- 12,665.
106 Electrical Franchise 42,500. 84,436.
107 Garbage Colle<tiona 65,000. 67,593.
109 Licenses -0- 3,659.
110 Penalties and Interest 1,000. 1,553.
111 Hisce llaneovv Collections 500. 3,016.
112 Telephone Franchise 2,700. 3,194.
113 Radio Service - Neptune Beach 4,200. 4,200.
114 Lot Cleating 100. 124.
115 S. N. Sever Service Charge 2,890. 5,168•
116 Sever Service Charge 86,000. 73,767.
117 Royal Palms Certificate No. 3 7,703. 9,896.
121 Transfer from N.O.M. d R. Account 60,600. 60,600.
122 Transfer from Hater Revenue Account 145,199. 174,199.
123 Lapse Pund for Capital Ezpenae 81,000. -0-
125 Police Reports 350. 559.
128 House Removal 100. 653.
129 State Puel Taz Refund _ 2.500. 2.043.
5752.679. -
The accompanying No res m Financial S[a [ements and "Auditors' Comments" are an
Integral part of this report.
Page 5
CITY OF ATLANTIC BEACN, FIARIDA
GENERAL FOND
APPROPRIATIONS AND E%PENDITURES
PISCAL YEAR Et0)ED
September 30, 3974
Account APpropria [ions Expenditures
ADHINISTRATION
201 Personnel $ 48,929. 5 48,928.
202-A Insurance - Building, Vehicles
N/C etc. 17,098. 17,099.
202-B Insurance-Life and Hospital-
ization 8,420. 8,327.
20}A Offi ee Supplies 4,870. 4.869•
20}B Postage 1,500. 1,031.
20}C Maintenance, Office Machines 1,455. 1,418.
204 City Hall Maintenance 1,463. 1,463.
205 Audit 2,700. 2,700.
206 0 A S I and Expense 23,231. 23,190.
207 Office Uti li cies 3,700. 3,631.
209 Advertising 1.390. 1,388.
210 Commissioners' Pund 1,000. 570.
271 Election Expense 1,027. 1,027.
212 City Manager's Expense 850. 827.
213 Memberships 1,000. 882.
214 Retirement Fund 3,610. 3,610.
215 Mayor's Expenses; Director Y.L.C. 500. 470.
216 Professional Services - Codffica [i on 1,200. 1,174.
217 City Attorney 3,600. 3,600.
218 Commissioners' Salaries 600. 600.
220 House Removal 500 . -0-
2-1002 Capital Appropriations 3,981. 3,944.
TOTAL ADMINISTRATION $132.624. 5130.74ft
PUBLIC SAFETY
301 Personnel $164,409. $164,211.
302 Uniforms 1,660. 1,655.
30}A Police Supplies 1,840. 1,816.
30 }g Pire Supplies 1,125. 1,124.
J06 Jail Heals and Supplies 1,055. 1,054.
307 Utilities 4,967. 4,967.
308 Bul lding Maintenance 1,175. 1,174.
309 Radio Repair 1,009. 1,008.
310 Slate Supplement - Police 2,700. 1,900.
313 Office Supplies 800. 788.
314 Municipal Judge 1,440. 1.440.
315 Alternate Judge 720. 720.
}1003 P. b F. D. - Capital 45,J95. 45.391.
TOTAL PUBLIC SAFETY $228.295. $227.248.
The accompanying Notes to FSnanclal Btatements and "Audlrors' Comments" are an
integral par[ of [b is report.
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CITY OF ATLANTIC AEACII, Fl.ORi DA
CF.NERAI. FlMO
dPPROPRIATIONG ANTI E%PEND ITURh:S
FISCAI. YEAR F.N DED
S epic mbcr 30. 1974
A,_. nun t_ A ro ri at inns Ik onJ1[uras
TRANSPORTATION
401 Personnc•1 $ 9,037. $ 9,03).
502 Gns aline 18,212. IR,2I2.
401 tlil and frease 870. Afi 7.
40» Pa r[s and Tires, Tools, Mileage 1'3,400. 17,151.
405 Supplies 7A 2. 7ftO.
50i, Glop Tools 550_ 5'57.
71tTAI. TRANS PORTAT70N $__, 2y_r,7 .__ S 4~,.j__==
S•LN I TATION
501 1'c rs onturl S 67,458. $ fi7,119.
502 Ga dm gc Disposal Landfill 9,575. 9,568.
503 Contalnc rs 9,060. 9,OSA.
505 Supplies 400. 751.
5-IOOi Ga r6 a&~' Truck 19.600___ L9J577. _
Tf1TAL SA.Y [T,\TION $ 102.203. $ J01.795.
I.1Bl/R
501 Personnel $ 97,496. $ 93,49fi.
602 Onfform Ren [al _ 4,425. 4425._
TOTAL LABOR $ 97.921._ $_2L21~_
PUB LLC NOR%S
701 Tools and Supp Iles $ 2,000. $ 1,995.
702 Utilte tes 1.265. 1,254.
707 Eq utpmen[ Maintenance 4,760. G,75 R.
704 Beach and Street Ends 1,000. A47.
705 Drn inage 3,000. 2,559.
707-,1 Street Lt ghts 9,000. 8,848.
707-B L1 gh [s-A[lan tic Blvd. R
Mayp or[ Rd. 11,145. 11,142.
709 Street 14iin [e nance 6 Gen. S[re e t
Imp. 9,100. 9,067.
7I1 Street Signs 818. 818.
]12 eul ldinR Maintenance 200. 112.
713 Sideva lks and Cutters 3,106. 3,107.
714 Schools, Training, etc. 500. 460.
7-1007 7ruc:cs 4.000. 3.907.
TOT AL POBLIC 510RK$ $ 49.894. $ 48.976.
The accompan ying Notes Co Financial Rta semen [s and ''Auditors' Cortaaen ts" are an
Integral par[ of [h to report.
Pa Re 7
CITY OF ATLANTIC BEACN, FLORIDA
GENERAL FUND
APPROPRIATIONS AND EXPENDITURES
PIS CAL YEAR ENDED
September 30, 1974
Account Appropriations Expe ndi CUres
SEVER DEPARTi~°7T
801 Repairs and Replacements $ 4,200. $ 4,065.
602 Plan[ Maintenance 1,100. 1,068.
803 Utl3it tes 28,830. 28,827.
804 Chlorine and Chemicals 4,800. 4,749.
805 Supplies 200. 149.
806 Tools 20D. 185.
827 Payment Nater Certificate No. 3 7,OOD. 3,958.
828 Payment B.N. Sever Fund 2,500. 5,168.
830 Professional Services 2,700. 2,700.
T
T OTAL
OTAt SF1+F~A_RTl477T $ 47.530. 5 60.670.
PARRS A.YD RECREATIQY
901 personnel $ 17,181. S 17,173•
904 Recreation Maintenance 5,182. 5,181.
905 Park LEgh [ing 1,450. 1,440.
906 Community School Program 5,000. 4,717.
9-1012 Park Imp and Nev Land,
Professional Services 12,054. 12,054.
i pTAi. P RR. ND e. RATION $ 40.867. $ 40.565.
ENERCENCY EXPENSE 1,000.
G RAND TOTAL - AtL DEPARTlD?N"'C $ 743.1A1. $ 741.113.
the accompanying Notes to Financial Sta Cements and "Audi to re' Commen [s" are an
integral part of [his report.
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CITY OF ATLANTIC BEACH, FIARI DA
WATER ACCOUNTS - OPERATIONS
PINANCIAL POSITION
September 30, 1974
RESOURCES
Cash in Bank - Page 10 $ 68,558.
Uncollected Water Assessments 1,806.
TOTAL RESOURCES $ 70.364.
FVND BALAb'CES
Hater Revenue Aceount(1) $ 4,815.
Mater Operations, Matn[enance and
Repair Account (1) 135.
Water Sys cem Re~wal and Replacement Pund 65,414.
TOTAL ND BA e8 - $ 70.364.
(1) $3,009. available for transfer to General Fund.
The accompanying Notes to Pinancial Statements and "Auditors' Comments" are an
tn[egral pact of this reporc.
Page 9
CITY OF ATLANTIC BEACH, FLORIDA
DATER ACCOUNTB - OPERATIONS
CASH RECEIPTS AND DISBURSEMENTS
FISCAL YEAR ENDED
September 30, 1974
Cash Balance at September 30, 1973 $ 45,274.
Add:
Revenue Receipts -Page 11 $303,893.
Less-Actual cash balance
(eater Revenue Account) 4,046. $299,847.
Interest Earned 1,610. 301,457.
TOTAL CASH AVAI LARLE S 346,731.
Deduct
Actual Expends [ores - Page 12 $300,884.
Less - Inter-Fund Transfer 22,711. 278 1,~ 73_
Cash Balance at September 30. 1974 $ 68.558.
Composition of Cash Balance at September 30, 1974
Atlantic National Bank
Checking Accounts:
Hater Revenue Account $ 3,009.
Hater Operations, Hain [enance 135.
and Repair Account
Hater System Renewal and
Replacement Pund 77,913.
Time Certiftea[es:
Na ter System Renewal and
Replacement Pund 31,501.
TOTAL $ 68.558.
The accompanying Notes to Pinanclal S[a [emente and "Auditors' Comments" are an
integral part of this rep or C.
Page 10
CITY OP ATLANTIC BEACH, FLORIDA
HATER ACCOUNTS - OPERATIONS
REVENUE RECEIPTS / ESTIMATED AND ACTUAL
FISCAL YEAR ENDED
September 30, 1974
Account:
1101 Minimum Water Charges
1102 Exceas Hater Charges
1103 Cut-In Charges
1104 Service Charges
1105 Cigarette Tax
1306 Utility Tax
1107 Beginning Balance
1108 Mater Assessments
1109 Miscellaneous - Water Lines
T07AL5
Estimated Actual
$ 52,000. $ 54,520.
22,000. 19,874.
12,000. 4,690.
300. 591.
80,000. 136,044.
75,000. 82,792.
35,000. 4,046.
1,500. 1,336.
-D- -0-
$277. A00. $x_893.
The accompanying No [es Co Financial S[a Cements and "Auditors' Comments" are an
integral part of [h 1s report.
Page 11
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CITY OF ATLANTIC BEACH, FLORIDA
HATER ACCOUNTS - OPERATIONS
APPROPRIATIONS AND EXPENDITURES
PIBCAL YEAR ENDED
September 30, 1974
AccmunC App ropr is [i ons Expenditures
O2 ERATIONS, MAi 41TNANCE AND REPAIRS
INDI RECi COS 15 - PAID TO GENERAL FUND
1402 Administration $ 16,200. $ 16,200.
1403 Transportation 7,800. 7,800.
1404 Tabor 26,400. 26,400.
1406 Capital 10200. 10,200.
TOTAL $ 60,600. $ 60,600.
DIRECT COSTS
1471 Repairs and Replacements $ 5,100. $ 5,073.
1412 Tank Maintenance 290. 290.
1413 Utilities 10,392. 10,392.
1414 Chemicals 3,455. 3,454.
1415 Building Maintenance 270. 262.
1430 Mls cellaneous 183. 115.
TOTAL $ 19,690. $ 19,586.
RENENAL AND REPLACEMENT FUND
1501 New Mains, Meters, Servtre $ 15,000. $ 10,188.
1502 Mater Reservoir 500. -0-
1503 Emergency Mater Plan[ 500. -0-
7I17AL $ 16,000. $ 10,188.
FUND TRAYS FERS AND OTHER
1221 Revenue Bond Fund-Bond Principal,
for 1975 $ 10,000. $ 10,000.
1221 Bond Interest and Paying Agent
Charges (1975) 3,600. 3,600.
1242 Tm General Pund 145,199. 174,199.
1241 Transfer to Mater System,
Renewal and Replacement 22,711. 22 711.
TOTAL $ 281,510. $ 230 510.
GRANU TOTAL $ 277.800. $ 300.884.
The accompanying Notes to Financial State mente and "Auditors' Co®en [s" are an
tote gral par[ of this report.
Page 12
CITY OP ATLANTIC BEACH, FLORIDA
UTILITY REVENUE BOND FUND
FINANCIAL POSITION
September 30, 1974
RESOURCES
Cash in Atlantic National Bank - Page 14 $ 41,433.
Fixed Assets - Nater System
Nater System Constructed since Nay, 1958
from proceeds of bond issue - Cos[ $ 238,828.
Nev Mater Nains, Service and Meters added
from Revenue of System - Cost (1) 236 526. 475,354.
$$16.787.
OBL7GATIONS A.YD FUND BALANCES
Obligations:
U[f llty Revenue Bonds Payable $ 107,000.
Cer [1flcates of Indebtedness Payable
Selva Harina Realty Company No. 2 4,70(1.
TOTAL OBLIGATIONS $111,700.
Fund Ba lances
Investment in Mater System $ 363,645.
Accumulated Interesc Earned on
Investments 1],627.
Restricted for Debt Service 27,815.
TDTAL PUND BALANCES $405,087.
$516.787.
(1) $10,186. added during fiscal year ended
September 30, 1974
The accompanying Notes to Financial S[a temen[s and "Audi[o rs' Commen [s" are an
integral part of thfs report.
Pa Re 13
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CI1Y OF ATLANTIC BEACH, FLORIDA
UTILITY REVENUE BOND FUND
CASH RECEIPT'S AND DISBURSEMENTS
FISCAL YEAR ENDED
September 30, 1974
Cash Balance at Seo tember 30, 1913 S 39,854.
Add:
Transfer from Hater Revenue Account $ 13,600.
Interest on Savings (added to time
certificate balance) 1,951. 15,551.
T07AL CASH AVAILABLE $ 55,405.
Deduc [:
Bond Principal Paid $ 10,000.
In [e rest and Paying AgenC's Fees 3,972. 13,972.
Cash Balance aC Se o[ember 30. 1974 $ 41.433.
Composition of Cash Balance at September 70, 1914
Atlantic Na tfonal Bank
CheckSng Account $ 1,441.
Time Certificate 79.992.
IQT6L 5 41.433.
The accompanying Notes [o Financial S[a [emen is and "Audi cors' Comments" are an
integral part of [his report.
Page 14
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CITY OF ATLANTIC BEAGII, FLORIDA
UTILITY REVENUE BOND FUND
UTILITY REVENUE BONDS PAYABLE
FISCAL YEAR ENDED
September 30. 1974
Maturity
Dates Amount
March 1, 1975 $ 10,000.
Harsh 1, 1976 11,000.
Harsh 1. 1977 11,000,
March 1, 1978 11,000.
March 1, 1979 12,000.
March 1, 1980 12,000.
March 1, 1981 13,000.
March 1, 1982 13,000.
:larch 1, 1983 14,000.
TOTAL $107.000. (')
(1) Does not include future interest amounting [o $17,798., which will
accrue over the remaining life of the bonds.
the accompanying Notes to Financial Statements and "Auditors' Comments" are an
integral pare of [h 1s report
Page 15
CITY OP ATLANTIC BEACH, PLORI DA
SEWER FDND
PINANCIAI. POSITION
September 30, 1974
RESOURCES
Cash in Banks - Page 17 $ 79 ,D82.
Uncollected Sewer Assesscents 19,968•
Noce Receivable - Pecan Grove Apartments 7,602.
Sewer Construction Costs (1) 1,130.051.
70TA1. RED $ 1.236.103.
OBLIGATIONS AND FUND BALANCES
Ob ligacions
General Obligation Bonds Payable
(Issued, Aprfl 1, 1958) 5 210,000.
Due [0 1971 Gen. Obligation Sever Band
Sinking Fund 1,711.
Certificates of Ittde6 redness Payable
Se lva Marina Realty Co. - No. 1 7.926.
Inte cs Lace Contracting Co. - No. 3 3,774.
TOTAL 08LICATIONS 5 223,411.
Fund Balances - By Source
1971 Bond Issue $ 474,591.
Special Assessments 346.491.
Government Cran[ 67,094.
Re va lying Fund 122,D 16.
TOTAL fl1ND BALANCES $ 1,012.642.
TOTAL OBLIGATI DNS AND FUND BALANCES $ 1 236 103
The acc ovpanyinq Notes [o Fln an eial S[a to me nts and "AudiCOr s' Comments" are an
integral part of [his repo r[.
(1)
Includes costs incurred 1971 General Ob It ga[ian Sewer flood Consttnctlon Account
prior to 1973.
Page 16
CITY OF AI'LANTLC BEACB, FIARI DA
BEWER FUND
'
CASN RECEIPTS AND DISBURSEMENTS
FISCAL YEAR ENDED
' Septeffier 30, 1974
' Cash Bal t September 30 1973 $ 70,269.
Add:
Budgeted Revenue Receipts $ 110,926.
Less: Beginning Cash Balance Included 70,269. 40,657.
Ce[[iff ea[e of Indeb [ednese, Selva Marina
Realty Company - Rio. 1 5,168.
Certificate of Indebtedness, John Blov
No. 3 3,958.
Amount of Principal Collected on Pecan
Crowe Apartment Project 2,470. _
' i07AL CASN PVAI LABLE $ 122,522.
Deduc L'
' Appropriated Expenditures $ 20,297.
Transferred to 1971 G.O. Sever Bond
SinkSng Fund 14,017.
John Blw - Certifirate No. 3 3,958.
' Selva Marina Realty - Ho. 1 5.168. 43,440.
' Ca h B lane a[ 8eo tembet 30. 1924_ $ 79.082.
Composition of Cash Balance at September 30, 1974
' The Ocean State Bank - Checking Account $ 1,069•
Southeast First National Beach Bank -
' Selva Marina Sever Fund 5•
Ce r[l fica [es of Deposit 78,008.
$ 79
082
TpTpL, .
.
' '
" "
Auditors
The accompany Sng Notes to PS nancial Statements and are an
Commen [s
integral par[ of Ch is report.
' Page 17
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CITY OF ATLANTIC BEACH, FIARI OA
SEVER FUND
REVENUES ANO EXPENDITURES
FISCAL YEAR ENDED
September 30, 1974
Bs tf ma [ed Actual
REVENUES
Beginning Cash Balance 5 66,515. S 70,269.
Oom Stream Pollution Charge -0- 7,560.
Ad Valorem Taxes -0- 14,992.
Special Sever Assessments 8,000. 7,957.
Selva Marina Sever Service Charges 2,500. -0-
Interest and Miscellaneous Collec-
tions 1,500. 5,578.
507. Se rvi c¢ Charge -0- 4,570.
TOTAL REVENUES $ 78.5],x. 5 110 926
EXPEVUINR£$
Fwd Balance 5 56,718. S -0-
Bond Principal -0- 10,000.
Bond Interest and Bank Charges -0- 8,294.
Selva ?Wring Sever Service Charge 2,SOU. -D-
Sever Co ns [ruction 19.297. 2.003.
TO*AI EVPFNDINRES S 7A.515. 5 20.297.
The accovpan,ing Votes [o Financial Statements and "AudStors' Comments" are an
integral par[ of this report.
Page 18
CITY OF ATLANTIC BEACH, FLORIDA
SEVER FUND
SEVER BONDS PAYABLE
PISCAI. YEAR ELIDED
September 30, 1974
Ma[url[y
Dates Avoun[
April 1, 1975 S 10,000.
Ap r11 1, 1976 10,000.
April 1, 1977 10,000.
Aptil 1, 1978 10,000.
April 1, 1979 10,000.
April 1, 1980 15,000.
April 1, 1961 11,000.
April 1, 1982 35,000.
April 1, 1983 15,000.
April 1, 1984 20,000.
April 1, 1985 20,000.
April 1, 1986 20,000.
April 1, 1987 20,000.
Apr11 1, 1988 20,000.
TOTAL S23U .000. (1)
(1) Does no[ Include future Sn[ecest amounting [o $64,828.. which will
accrux over the remaining life of the bonds.
The accompanying Notes to PS nanctal Statemen CS and "Auditors` Cnmmen[s" are an
integral part of [his report.
Page 19
CI iY OF ATL,I\iIC BF?.Cd, 'r L07IDA
POLi CE COLRT COST FCbD
FI S.i\CIdL ?OSITI O\
September 30, 19 i4
3ESOL~CES
Cash fn Sank (?er 3e1 oJ)z ' :i=
~?.L '3.SOLAC°5 '~-
'~ D 3A L4SCE
2es r - '_ 3alao .'65.
CdS3 7ECEi?i5 ?2:v JIS3L%Euy\i5
FISC dL 'i Zdd 2gDED
Sep to goer 3v, 157=
Cash 3alamca 2t Sao[e.-Sat 3;. y973 S 3,-25.
a'_'_:
'our[ Cos [s Col L ct?t 2.SI2.•_
?0741 r.aj;i :1L'dI LAd LE > i. 5: i.
J=_t u.L
Schao Ls ant Trainin; 219.
.'.e micsnces ca Sea to >i FI>ri^_a 1 2i5. 1,=%S.
C - '-i_a ac Sa>cember ~0. 15i: _ _5<.
Souch=_ast Firc `:a clonal 3each 3anR
._a a¢apaa~ang Sc tea c> ?i.^.aaciai Sta ce eels ac'_ "dull[>a' G.-er. ta" a:e ar.
i nteg cal ?a:c of this r=_7ort.
'a ze 2:
CITY OF ATLANTIC BEACH, FLORIDA
1971 GEYERAL OBLIGATION SLT.'ER BOND
SiNKI NG FUND
FINaYCIAL POS ITI OS
September 70, 1974
RESODRCES
Cash in Bank - Page 22
ii ee Ce rtifiea tes
Amount [o be Provided by dd Valorem
Taxes for Re [i revent of Bonds (Prindpal)
Due from Sewer Fund
TDTA1 AF 0 RFF~
5 35i.
15,118.
468 ,OOfi.
1711.
5495.194.
LIABILITIES aYD Pl':U BALA`:CE
' Accrued Interest due Sanuary 1, 1975 5 7,ii3.
Bonds Payable 468,000.
' TOTAL LIABILITIES 5471 ~ij;,
Fund Balance
TOTAL LIARILITIES AYD FI `!D BA .1\
11.0.1.
SL86.j94.
The a¢oapany /ng Yo[es to Financial Statercnts and "Auditors' Ccacnts" are ao
integral part of this repot[.
Page 21
CITY OF ATLRNTIC BEACN, FLORi DA
1971 GENERAL OBLI GATT OA SEWER 90VD
SINKI7IG FUND
CASH RECEIPTS AND DI SBURS EVENTS
FIS GL YEAR ENDED
September 70, 1974
Cash balance ai $eotember y974_ $ 805.
Re ceipts•
Transferred from General Fund for
portion of 1972-197} Ad l'a loran
tax levy S 44,976.
Transfer Fcon Sever Fund 14,017.
Interest on Inves[men is _ IJB. 59,1}1.
TOTAL CASH AVAILABLE $ 59 ,9 J6.
Disbursements:
Bond Principal Paid $ 12,000.
Bond Interest Paid 31,057. 5 G}, OS }._
Cash Balance at Seo[evber 30. 1974 111 $ Iri.883.
The accompanying No [es to Financial Sta [ements and "Auditors' Comments" are an
in toRral part of this report.
(L1
S.E. First Sational Bank Check{n3 dw oun[ 365.
Ocean Stale Bank, 90 Day 5 1/2`/, Tfnx Ce rtf fl ca te.
Including Accrued interest 16,518.
TOTAL $16.88 J.
Pa Re 22
1
1
C1 TY OF ATLI.YTIC BEACH, FLORIDA
1 971 f.EYE RAL ORli CATI0.Y SERER 80YDS
ISSUED Iv 1971
DOTS TAYDI NG AS OF
September 30, 1974
SERIAL YATURI7Y
YOHBERS DATES SALE PRICE DiSC0f1YT TOTAL (1)
33-44 July 1, 1975 5 11,778. S 222. 5 12,000.
45-56 July I, 1976 11,778. 222. 12,000.
57-70 July 1, 1977 13,747. 259, iL,000.
71-85 July 1, 1978 14,722. 27R. 1i ,000.
86-100 July 1, 1979 14,722. 278. 15,000.
101-116 July 1, 1980 15,704. 296. 16,000.
117-133 July 1, 1981 16,685. 315. 17,000.
174-L51 July 1, 1982 ]7,667. 133. 18,000.
152-171 July 1, 1993 19,630. 370. 20,000.
172-191 July 1, 1984 19,63(1. 370. 20,000.
192-211 July 1, 1985 19,630. 370. 20,000.
212-237 July 1, 1986 21,593. 407. 22,000.
2}4-259 July 1, 1967 24,538. 452. 25,000.
259-263 July 1, 1988 24,538. 462. Zi,000.
264-3nq July 1, 1989 24,538. 462. 25,000.
399-333 July 1, 1990 24,518. 462. 25,000.
334-367 July 1, 1991 29,445. iii. 30,000.
364-393 July 1, 1992 29,445. 555. 30,000.
194-423 July 1, 1993 29,445. 555. 30,000.
424-453 July 1, 1994 39,260. 740. 60,000.
464-500 July 1, 1995 76,315. 685. 37,000.
IO Tafc 5459.342. 5 8.658 545 00.
(U Does not include future interest vhf ch vill attrue over the remaining 11 fe
of bonds amounting [0 5374,bi2.
The accompanying Yates to Financial Statemen es and "Auditors' Corsen ts" are an
in [eRral Part of this repot[.
Paqe 23
CITY OF ATLANTIC BEACH, FLORIDA
' NOTBS TO FINANCIAL STATEIffiiT5
September 30. 1974
1
(A) RESOURCES
f On Nay 29, 1974, the Supreme Court of the State of Florida, rendered
its unanimus opinion, making Final determination that the City of Atlantic
Beach, along vi ih the cities of Jacksonville eeaeh, Neptune Beach, and the
' Tow of Baldwin were "corporate entities havivg the lama rights as duly con-
stituted munidpal corporations to share in, receive, and expend revenues
allocable Co municipal corporations by both our federal and state governments".
' I[ appears [hat there are substantial am,mts of both Federal and State Revenge
sharing funds due to the City of Atlantic Beach. Since the amunts have not
been de tennined at this time, vo amun[s are reflected on these etatemen ts.
' The amwts shown as being received under "Revenue Receipts", as
"Revenue SharSng" and "CSgarette Taxes" represent amun[s reml t[ed [o the Clty
of Atlantic Heaeh by the City of Jackaonv111e consolidated government as a
portion of Stale revenue sharing funds received from [he Slate of Florida, certain
Gasoline Taxes, and excess Ad Valorem [ax millage. No federal revenue sharing
funds have been dis Lributed [o [he City of Atlantic Beach by either the Federal
Government or through the City of Jacksonville as of this date.
' (B) TA)O:S RECEIVAH LE
During the year ,order review [he Legislature of [he State of Florida
enacted legia lation (ChapCer 74-421 Florida Statutes) [o empwer the C1[y of
O Atlantic Beach to sell tax certi fica[es covering unpaid taxes on real property.
Of the total amun[ ~mcollec[ed ($33,549.), there Ss possibly ,$.~35. unco7lec tab le
due co being over ~0 years past due. Since the Consolidated Cl cy of Jacksonvl lie
(Duval Corm ty) under-5[ate`Tav ~s assumed assessing and collecting [axes for
the City, it is suggested [ha[ the certifica[ea be prepared as soon as possible,
follwed by an appropriate tax sale, after which all certificates be turned
over to the tax collector so that collection may be made by him when current
caxes are collected. Re ferenee is made [o Section 119 of the city charter which
' states: "no amunt received for taxes aha 11 be applied to any current years'
[axes unCil all previous years' Caxea have been paid". I[ is obvious that [he
collector cannot make such app licatfon without the certificates in hand.
'
Page 24
CITY OF ATLANTIC BfACN, FLORIDA
GENERAL GOVERNMENT FUNDS
Audi[ Report
Seatember b 197E
AUDITORS` COlII1ENT8
The fo llwing comments are submitted in the specified sequence as
required by Section 4, (}uap ter 71-218, Florida Sta totes:
A. There were no irregularities reported in the
preceeding annual post audit.
B. I[ appears Ch a[ considers tioo and remedial action
has been taken covering all re commends ci ons made in
the preceeding annual post audits, except for items
sec forth in C, belw.
C. the follwin8 :ecommendaiions are aRaSn submitted for
your cow ideration:
1. Tt is suggested that a[ the close of each
accounting year, all books in possession of
the police department containing em iss ued tickets
be turned in to the Cf ty Treasurer and new books
be issued. Any unissued tickets can be ce-fasued
a[ a later date. The purpose of [hIs is to facf-
litace the accounting for all pre-numbered ti ekes
issued during the year.
2. Ne again recommend that serious consideration be
given to es tabliehment of a formal "Property Fund"
[o comp le to the aceounting fox the City's Fixed Assets
now chat a property record sys [em ie in use.
D. b E. To the beat of our knowledge there were no illegal or improper
expenditures made during the year, nor vas there any violation
of laws which could be determined within the ability of an
independent auditor to make such determination.
F• See C. above.
C. Ne found no evidence of failure [o comply with accoun tf ng pro-
cedures previously adopted.
R. 11ue only inac ances of variations in properly r¢cording trans-
actions vere directly related co our Coemenis in C. above.
I. There vere no shortages discovered by the current year audi [.
Page 25