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HomeMy WebLinkAbout1974AUDIT REPORT CITY OF CHUBBUCK Bannock County, Idaho For The Year Ended December 31, 1474 KEN V. CARTER & CO. Certified Public Accountants Pocatello, Idaho CONTENTS FINANCIAL STATEMENTS Accountant's Report 1 Balance Sheet 2 Statement of Changes in Fund Balances 3 Statement of Revenues and Expenditures 4 Notes to Financial Statements 5 OTHER FINANCIAL INFORMATION Accountant's Report on Other Financial Information 6 Cash on Hand and on Deposit with Banks 7 Summary of Bannock County Collections and Remittances g Operation in Taxes Receivable g Schedule of General Fixed Assets 10 Bond Principal and Interest Payable by Year 11 Budget and Revenues Comparison 12 Budget and Expenditures Comparison 13 Detail of Expenditures by Fund 15 Insurance and Bond Coverage 18 Supplemental Information for Bond Ordinance 19 Member%of Members of Idaho Soc�efy of K E N V . CARTER & C O. American Instifute of Cied erlifPublic Armuotarda Cerrillcd Public Accountant, CERTIFIED PUBLIC ACCOUNTANTS PHONE 233-2903 Mayor and City Council City of Chubbuck Chubbuck, Idaho 442 South Arthur Pocatello, Idaho 83201 July 29, 1975 We have examined the balance sheets of the funds and general fixed asset group of accounts of the City of Chubbuck for the year ended December 31, 1974 and the related statement of changes in fund balances and general fixed asset group of accounts and the statement of revenues and expenditures for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circum- stances. In our opinion, the accompanying balance sheets of the funds and the general fixed asset group of accounts, and the state- ments of revenues and expenditures and changes in fund bal- ances present fairly the financial position of the City of Chubbuck at December 31, 1974 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. KEN V. CARTER & CO. CERTIFIED PUBLIC ACCOUNTANTS P. O. BOX 242 Sewer Sewer. Fund Construction 31,842.10 75.31 15,824.72 20,.358.48 General Fixed Assets 2,557,900.00 2,549,371.13 $_2, 6 25,925. 30 $ 75.31 $_22549,371.13 N 20,358.48 2,557,900.00 68,025.30 ( 20,283.17) 2,549,371.13 $ 2,625,925.30 $ 75.31 S 2,549,371.13 2 \� ' t i 4 'r Sewer Sewer Fund Construction $ 68,025.30 $ 68,025.30 42,295.63 (.eneral Fixed Assets 20,500.00 25,036.01 18,489.53 450,533.80 514,559.34 53)900.00 3,400.00 42 295.63 57,300.00 68,025.30 ( 42,295.63) 457,259.34 22 012.46 2,092,111.79 $ 68,025.30 ($ 20,283.17) $ 2,549,371.13 3 Sewer Sewer Fund Construction 129,016.72 3,105.30 408,238.17 132,122.02 408,238.17 11,024.77 531071.95 4501533.80 64,096.72 450,533.80 $ 68,025.30 ($ 42,295.63) Cif CITY OF CHUBBUCK Bannock County Chubbuck, Idaho NOTES TO FINANCIAL STATEMENTS DOTE A - Principles of Accounting and General The City reports on the accrual basis of accounting and in accordance with fund accounting principles. Consistent with fund accounting principles, certain self --contained funds are used to account for cash and other assets. NOTE B - Amounts Due from Bannock County on Taxes Collected Taxes levied by the City are collected by Bannock County and remitted monthly. As of December 31, 1974, the County had collected but not remitted to the City $65,899.78. This amount was received in January, 1975. NOTE C - Accounts Receivable Amounts due from state and county includes the following: State of Idaho - 4th quarter highway users revenue $15,853.23 - 4th quarter liquor apportionment 3,017.16 Bannock County - 3rd and 4th quarter liquor apportionment 3,560.50 4th quarter road and bridge 2,763.48 4th quarter inventory phase out 3,_199.10 Total $28,393_.47 These amounts were received in January and February, 1975 5 Pocatello, Idaho July 29, 1975 ACCOUNTANTS' REPORT ON OTHER FINANCIAL INFORMATION City of Chubbuck Chubbuck, Idaho In connection with our examination of the financial statements of the City of Chubbuck for the year ended December 31, 1974, we have reviewed the other financial information presented in the following pages which has been taken primarily from account- ing and other records of the City, but which is not, in our opinion, necessary for a fair presentation of its financial position or results of operations. Our examination was primar- ily for the purpose of formulating an opinion on the basic financial statements taken as a whole and was not such as to enable us to express an opinion as to the fairness of all the details of the additional information. KEN V. CARTER & CO. CERTIFIED PUBLIC ACCOUNTANTS Sewer Construction 408,238.17 20,358.48 428,596.65 450,533.80 450,533.80 21,937.15} 22 012.46 $ 75.31 7 CITY OF CHUBBUCK, Bannock County, Idaho Summary of Bannock County Collections and Remittances For the Year Ended December 31, 1974 Unremitted collections, December 31, 1973 $ 44,172.59 Collection by County: 1971 Taxes - real $ 1,341.02 1972 Taxes - real 667.27 1973 Taxes - real 20,374.43 1973 Taxes - personal 3,170.09 1974 Taxes - real 61,002.85 1974 Taxes - personal 9,687.17 Penalty on delinquent taxes 104.57 Interest on delinquent taxes 574.51 Liquor apportionment 7,024.55 Sales tax (inventory phase out) 10,868.01 Road and bridge apportionment 3,975.11 118 789.58 Total to account for $ 162,962.17 V-2% collection fee $ 1,453.83 Net remittances by County 94,799.88 Unremitted collections, December 31, 1974 66 708.46 Total accounted for ,$6 962.17 0 CITY OF CHUBBUCK, Bannock County, Idaho Operation in Taxes Receivable For the Year Ended December 31, 1974 $ 29 403.15 $96,289.57 $ 96,242.83 ( 16.55) $ 29.433.34 Taxes Receivable by Fund Balance receivable December 31, 1973 Tax charge Total Receivable Taxes remitted Taxes collected not remitted Tax cancellation and adjustment Balance receivable December 31, 1974 0 General Waterworks Fund Fund Total $ 29,293.36 $ 109.79 $ 291403.15 96,289.57 96,289.57 125,582.93 109.79 125,692.72 30,268.25 74.80 30,343.05 65,898.64 .1.14 65,899.78 17.70 ( 1.15) 16.55 $29,398.34 $$ 35.00 $ 29,433.34 Balance Cancelled Balance December 31, Tax Tax or December 31, Year 1973 Charge Collections Adjusted 1974 1974 $ $ 96,289.57 $ 70,690.02 ($ 74.25) $ 255525.30 1973 26,427.79 23,544.52 25.45 21908.72 1972 1,640.06 667.27 26.53 999.32 1971 1,335.30 1,341..02 5.72 .00 $ 29 403.15 $96,289.57 $ 96,242.83 ( 16.55) $ 29.433.34 Taxes Receivable by Fund Balance receivable December 31, 1973 Tax charge Total Receivable Taxes remitted Taxes collected not remitted Tax cancellation and adjustment Balance receivable December 31, 1974 0 General Waterworks Fund Fund Total $ 29,293.36 $ 109.79 $ 291403.15 96,289.57 96,289.57 125,582.93 109.79 125,692.72 30,268.25 74.80 30,343.05 65,898.64 .1.14 65,899.78 17.70 ( 1.15) 16.55 $29,398.34 $$ 35.00 $ 29,433.34 CITY OF CHUBBUCK, Bannock County, Idaho Schedule of General Fixed Assets For the Year Ended December 31, 1974 Note: Sewer construction costs will be depreciated over a 40 year life. 10 Balance Balance December December 31, 1973 Additions Deductions 31, 1974 Buildings and land $ 26,953.21 $ 45,536.01 $ $ 72,489.22 Street improvements 11,264.13 11,264.13 Parks 30,000.00 30,000.00 Equipment 90,711.09 18,489.53 3,400.00 105,800.62 Furniture and fixtures 3,209.48 3,209.48 Well No. 2 31,142.47 31,142.47 Well No. 3 13,281.80 13,281.80 Waterworks 179,430.96 179,430.96 Sewer construction 1,706,118.65 _ 450,533.80 53,900.00 _2,102,752.45 Total $ 2,092,111.79 $ 514,559.34 $ 57,300.00 S, 2,549,371.13 Note: Sewer construction costs will be depreciated over a 40 year life. 10 CITY OF CHUBBUCK, Bannock County, Idaho Bond Interest and Principal Payable by Year Sewer Revenue Bond, Series October 1, 1972 Year 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Intel esz. Due April 1 October 1 $ 30,000.oO 29,850. Yl 29,550.00 29,250.09 28,950.60 28,650.00 28,350.00 28,050.00 27,750.00 27,450.00 27,150.00 26,700.00 26,250.00 25,800.00 25,350.00 24,900.00 24,300.00 23,700.00 23,100.00 22,500.00 21.,900.00 21,150.00 20,400.00 19,650.00 18,750.00 17,850.00 16,950.00 15,900.00 14,850.00 13,650.00 12,450.00 11,250.00 9,900.00 8,550.00 7,050.00 5,400.00 3,750.00 1,950.00, $ 30,000.00 29,850.00 29,550.00 29,250.00 28,950.00 28,650.00 28,350.00 28,050.00 27,750.00 27,450.00 27,150.00 26,700.00 26,250.00 25,800.00 25$50.00 24,900.00 24,300.00 23,700.00 23,100.00 22,500.00 21,900.00 21,150.00 20,400.00 19,650.00 18,750.00 17,850.00 16,950.00 15,900.00 14,850.00 1,3,650.00 12,450.00 11,250.00 9,900.00 8,550.00 7,050.00 5,400.00 3,750.00 1,950.00 Totals $ 778,950.00 $ 778,950.00 11 Principal Due October 1 $ 5,000.00 10,000.00 10,000.00 10,000.00 1.0,000.00 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 15,000.00 15,000.00 15,000.00 15,000.00 15,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 25,000.00 25,000.00 25,000.00 30,000.00 30,000.00 30,000.00 35,000.00 35,000.00 40,000.00 40,000.00 40,000.00 45,000.00 45,000.00 50,000.00 55,000.00 55,000.00 60,000.00 65,000.00 $__1,000,000.00 Total Due $ 65,000.00 69,700.00 69,1.00.00 68,500.00 67,900.00 67,300.00 66,700.00 66,100.00 65,500.00 64,900.00 69,300.00 68,400.00 67,500.00 66,600.00 65,700.00 69,800.00 68,600.00 67,400.00 66,200.00 65,000.00 68,800.00 67,300.00 65,800.00 69,300.00 67,500.00 65,700.00 68,900.00 66,800.00 69,700.00 67,300.00 64,900.00 67,500.00 64,800.00 67,100.00 69,100.00 65,800.00 67,500.00 68,900.00 S 2,557,900.00 CITY OF CHUBBUCK, Bannock County, Idaho Budget and Revenues Comparison (Cash Basis) For the Year Ended December 31, 1974 General Fund Budget Tax levies (net) $ 83,875.00 State liquor allotments 16 191.00 Highway users revenue 30,000.00 Sales tax (inventory phase out) 6,140.00 Fines and forfeitures 81330.00 Licenses and permits 8,073.00 Road and bridge 7,280.00 Rent 1,200.00 Franchise 3,600.00 Fire calls 5,000.00 Interest on investments 2,895.00 State grant - parks 3,555.00 Other 9,868.00 Federal revenue sharing 30,408.00 State grant - law enforcement 6,000.00 Total General Fund $ 222,415.00 Waterworks Fund Water sales Water deposits Water hook-ups Sanitation Interest on investments Sales, other Total Waterworks Fund Sewer Fund Sewer charges Sewer hook-ups Sewer deposits Total Sewer Fund 12 $ 69,000.00 1,750.00 11,500.00 28,000.00 650.00 3.000.00 $ 113,900.00 $ 1001000.00 3,500.00 2.000.00 $ 240,149.31 $ 17,734.31 $ 81,047.70 $ 12,047.70 1,940.00 Over or 141472.48 (Under) Revenues Budget $ 74,712.46 ($ 9,162.54) 15,784.56 ( 406.44) 40,688.30 105688.30 10,868.01 4,728.01 13,096.65 4,766.65 10,961.63 2,888.63 3,975.11 C 3,304.89) 1,650.30 450.30 4,158.09 558.09 5,525.00 525.00 2,722.44 C 172.56) 3,881.65 326.65 13,162.65 31294.65 32,350.46 1,942.46 6.612.00 612.00 $ 240,149.31 $ 17,734.31 $ 81,047.70 $ 12,047.70 1,940.00 190.00 141472.48 2,972.48 31,156.50 3,156.50 1,192.90 542.90 5,068.34 2.068.34 $ 134,877.92 $ 20,977.92 $ 113,012.00 $ 131012.00 3,105.30 C 394.70) 180.00 ( 1,820.00) $ 105,500.00 $ 1162297.30 $ 10,797.30 CITY OF CHUBBUCK, Bannock County, Idaho Budget and Expenditures Comparison (Cash Basis) For the Year Ended December 31, 1974 Law Enforcement and Protection Law enforcement and protection 67,050.00 64,093.27 ( 2,956.73) Over or 35,621.08 1974 1974 Total Law Enforcement and (Under) General Fund Budget Expenditures 102,671.08 Budget General Government Building Inspection 6,300.00 3,579.50 ( 2,720.50) Legislative $ 13,250.00 $ 10,216.82 ($ 3,033.18) Executive 2,900.00 2,418.45 ( 481.55) Financial administration 9,500.00 6,81.1.47 ( 2,688.53) Legal and publications 10,000.00 7,437.45 ( 2,562.55) Other government 55,191.00 58,1.68.13 Pumping - power and utilities 2,977.13 Total General Government 90,841.00 85,052.32 ( 51788.68) Law Enforcement and Protection Law enforcement and protection 67,050.00 64,093.27 ( 2,956.73) Fire control and prevention 35,621.08 33,726.91 ( 1,894.17) Total Law Enforcement and 800.00 11000.00 200.00 Protection 102,671.08 97,820.18 ( 41850.90) Building Inspection 6,300.00 3,579.50 ( 2,720.50) Physical Environment and Transportation Highway, streets, and roadway 77,350.00 49,123.88 ( 28,226.12) Engineering 1,500.00 314.00 ( 1,186.00) Parks 9,100.00 7,297.75 ( 1,802.25) Other Government Purposes Audit 800.00 11000.00 200.00 Contingent 2_1,850.21 15,726.00 ( 6,124.21) Total Other Government Purposes 22 650.21 16,726.00 ( 5,924.2.1) Total General Fund $ 310,412.29 $ 259,913.63 ($ 50,498.66) Waterworks Fund Administration $ 33,500.00 $ 33,541.32 $ 41.32 Supplies - pump maintenance 11,500.00 10,252.22 ( 1,247.78) Pumping - power and utilities 6,000.00 5,412.09 ( 587.91) Water lines transmission and distribution 651000.00 64,304.38 ( 695.62) Customers account 500.00 169.40 ( 330.60) Personnel benefits 5,750.00 2,266.59 ( 3,483.41) Equipment, equipment payments, and repair 6,000.00 4,466.35 ( 1,533.65) Contingent 8,603.91 4,738.80 ( 3,865.11) Sub -total Waterworks 136,853.91 125,151.15 ( 11,702.76) 13 CITY OF CHUBBUCK, Bannock County, Idaho Budget and Expenditures Comparison (Cash Basis) For the Year Ended December 31, 1.974 Waterworks Fund (Continued) Sanitation - Garbage Disposal Salary and administration Landfill disposal Personnel benefits Equipment, maintenance and other Total Sanitation Total Waterworks Fund Administrative and general Construction Total Sewer Fund Sewer Construction 14 1974 Budget $ 15,000.00 2,400.00 3,425.00 15,014.20 35,839.20 $ 172,693.11 Over or 1974 (Under) Expenditures Budget $ 13,988.50 ($ 1,011.50) 2,400.00 .00 3,425.00 .00 4,227.93 C_ 10,786.27) 24,041.43 C 11,797.77) $ 149,192.58 ( 239500.53) $ 1051500.00 $ 31,383.25 ($ 74,116.75) 53,071.95 53,071.95 $ 105,500.00 $ 84,455.20 ( 21 044.80) $ 600,000.00 $ 450 533.80 ($ 149,466.20) CITY OF CHUBBUCK, Bannock County, Idaho Detail of Expenditures For the Year Ended December 31, 1974 General Fund 18,298.03 Printing General Government Insurance 11,489.73 Legislative 1,386.26 Building and repairs Salaries $ 4,800.00 24,946.01 58,168.13 Administration 28.22 Dues 467.60 Civil defense 100.00 Med-Alert ambulance 1,980.00 Southeastern Idaho Health District 1,720.00 Equipment 621.00 South East Council of Governments 500.00 $ 10,216.82 Executive Mayor salary 2,400.00 Administration 18.45 2,418.45 Financial and Administration Salary 4,998.86 Supplies 1,812.61 6,811.47 Legal and Publications 7,437.45 Other General Government Personnel benefits 18,298.03 Printing 22.65 Insurance 11,489.73 Utilities 1,386.26 Building and repairs 2,025.45 Construction 24,946.01 58,168.13 Building Inspection 3,579.50 Law Enforcement and Protection Salaries 44,215.42 Records and supplies 3,309.92 Care and custody of prisoners 1,727.00 Communications 4,276.43 Repair and maintenance 8,084.50 Equipment 2,480.00 64,093.27 Fire Control and Prevention Salaries 6,406.31 Alarm and communication 1,135.26 Equipment 14,000.00 Equipment and building maintenance 3,539.47 Auxiliary service 81645.87 33,726.91 15 CITY OF CHUBBUCK., Bannock County, Idaho Detail of Expenditures For the Year Ended December 31, 1974 General Fund (Continued) General Government (continued) Physical Environment and Transportation Highways, Streets, and Roads Salaries Construction Maintenance Snow and ice removal Lighting Equipment and equipment repairs Parks Salary Maintenance Engineering Other Government Purposes Audit Contingent Principal (4545 Yellowstone Ave.) Interest Total General Fund Waterworks Fund Administration Salaries Office supplies Supply - pumps maintenance Pumping - power and utilities Water Line Transmission and Distribution Improvements Repairs Connections Customer Account Refunds 16 $ 13,769.25 16,496.68 1,523.73 42.72 9,592.77 7,698.73 5,734.03 1,563.72 1,000.00 1,476.00 12,500.00 1,750.00 $ 31,096.56 2,444.76 44,110.10 3,796.35 16,397.93 $ 49,123.88 7,297.75 314.00 16,726.00 $259,913.63 $ 33,541.32 10,252.22 5,412.09 64,304.38 169.40 a CITY OF CHUBBUCK, Bannock County, Idaho Detail of Expenditures For the Year Ended December 31, 1974 Waterworks Fund (Continued) Personnel Benefits Equipment, Equipment Repairs Contingent Sanitation Salaries Personnel benefits Equipment Equipment expense Other Landfill Total Waterworks Fund Administration Treatment Transfer to Sewer Construction Fund Utilities Equipment, repair, and maintenance Customer deposit refund Construction costs Bond costs Total Sewer Fund Sewer Construction Fund Construction Engineering Equipment Legal and fiscal agent Miscellaneous Total Sewer Construction Fund 17 $ 2,266.59 4,466.35 4,738.80 $ 13,988.50 3,425.00 1,400.00 2,540.13 287.80 2,400.00 24,041.43 $149,192.58 $ 475.31 8,250.00 20,358.48 336.62 404.27 30.00 53,071.95 1,528.57 $389,614.15 36,294.50 4,850.00 19,650.15 $ 84,455.20 UJUNI . aw 161 C] U O 0 O CJ O O ri -�; 4 1� r -i Ln N C] U 0 O O O Ltl LC1 n O O O �O 00 rb r- N N O U O N N O C] Q O Ln a O O Q r- O O w • • •rI -4 C; 1 Ln N C o CL N rrf •4 S f7 YS a rn r -t a � O o U �D crr O 0 r• E C] o ra G • • r1 . 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Supplemental Information for Bond Ordinance As of December 31, 1974 (1) Schedule of sewer rates charged In City Per Month Single family residence $ 9.80 Duplex residential unit - per knit 8.00 Apartment building - per apartment 8.00 Motels - per unit 2.00 Trailers in trailer parks 8.00 Trailers on individual lots 9.80 Motels with cooking units - per unit 8.00 Hotels and rooming houses - per unit 2.00 Churches 9.80 Commercial businesses and schools 9.80 plus 12 cents per thousand gallons in excess of ten thousand gallons of water per month Out of City Same as above except that each charge shall be fifty percent greater than equivalent charge for in the city (2) Net Revenues of the System to Be 140% of Combined Average Annual Principal and Interest Requirements Gross revenues $ 132,122.02 Less operating expenses 11,024.77 Net revenues 121 097.25 Average principal and interest $ 67,313.16 140% thereof $ 94,238.42 19