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HomeMy WebLinkAbout1968to June 30a 1969 Board of Trustees City of Chubbuck Chubbuck, Idaho Gentlemen: We have examined the balance sheet of the City of Chubbuck as of December 31, 1968 and the related statements of receipts and dis- bursements and surplus 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 con- sidered necessary in the circumstances. In our opinion, the accompanying balance sheet and statements of receipts and disbursements and surplus present fairly the financial position of the City of Chubbuck at December 31, 1968 and the re- sults of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consis- tent with that of the preceding year. Respectfully submitted, Abe-X.e"' Dale V Jones Certified Public Accountant i 2, C 0 M M E H T S Statement of Assets and Liabilities at December 31 19680 EXHIBIT A We submit herewith a statement of assets and liabilities showing the financial condition of the City of Chubbuck at December 31, 1968. The assets consist of cash in the bank, unremitted and unpaid taxes, prepaid insurance, water assessments receivable, and fixed assets, The liabilities consist of bonds and contracts payable and water deposits. Bonds outstanding are explained in Schedule 2, Computations for fixed assets and prepaid insurance are shown in detail in Schedules 1 and 4. Water assessments receivable are compared with assessments and collections in Schedule 3. Reconciliations of surplus are shown in Exhibits A-1 and A-2. Statement of Cash Receipts and Disbursements EXHIBIT B, B-1 & B-2 These statements account for all receipts and disbursements for the two year- period for all funds. Ex ense Budget Comparison EXHIBIT C and C-1 These statements show appropriations and expenditures in detail for each year, Summary of County Collections EX11IBIT D This exhibit reflects the transactions between the City of Chubbuck and Bannock County with respect to taxes and other revenue reaching the village through the county. Summary of Operations in Taxes Receivable M IBITS D-1 and D-2 These exhibits show the total beginning unpaid taxes and tax charges by years and balances them against collections, cancellations, and unpaid taxes at December 31, 1968, The accounting records and other information orr file for the city were exceptionally well -handled and accurate, 3. 1-3 noon t tMW10W # *t It r:w Fd ►a n rnc� O m 'C G O .0 0 O O w• SD fD O D3 Cl) � }a 9- Ly ro ►! w• y M Gc+ C �+• A CD C, CA e+ m [+ r' r 0 e+ r r m`+ eD b ^ n k m Cn m � It N FP O O �! m � m .0 C] h m r m �D W G o SD o ^a ZZ r• m r+ y r-- C U] [D C" r• m ►� a Id �+ ►y O O O m o. 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CITY OF CHUBBi3CK Bannock County, Idaho EXHIBIT A-1 Reconciliation of Surplus -- Year 1968 General Fund Surplus January 1, 1968 per prior audit $51,024.73 Increase in taxes receivable $16,463.86 Restoration of prior years bond sinking fund allocations 12,800,00 29,263,86 $80,288.59 Less: Decrease in prepaid insurance $ 10.05 Excess of disbursements over receipts (excluding loan re- payment received) 1,331,12 1 341.17 Surplus December 31, 1968 $78,947.42 Waterworks Fund Surplus January 1, 1968 per prior audit $ 7,810.16 Increase in water assessments re- ceivable $ 2,461.82 Excess of receipts over disburse- ments (excluding loan) 5,646.43 8,105.25 $15,918.41 Less: Increase in water deposits Payable $ 6113.25 Allocation to bond sinking fund 13,750.00 141368,25 Surplus December 31, 1968 $ 1,550.16 CITY OF CHUBBUCK, Bannock_ County, Idaho Reconciliation of Surplus -- Year 1968 Well No, 2 fund Surplus January 1, 1968 per prior audit Excess of income over interest paid Surplus December 31, 1968 Property Fund Surplus January 1, 1968 Additions to city property Decrease in bonds payable Decrease in contract payable Less: Equipment contract balances assumed Surplus December 31, 1968 Bond Sinkina Fund Surplus January 1, 1968 Allocation from Waterworks Fund Surplus December 31, 1968 $20,445.67 4,000.00 255, 00 $36,921.99 8,100,54 $45,022_,53 $146,149.80 24,700,67 $170,850.47 6,640,26 9t1 RA 91 n 91 $12,800,00 9!1 q 7-rn na CITY OF CHUBBUCH,_Bannock County, Idaho Statement of Cash Receipts and Disbursements Year 1968 GENERAL FUND Cash to begin Receipts: Bannock County (Exhibit D) 1liway Users Revenue Police Fines Liquor Refund (State) Licenses and Permits Franchise Tax Loan received - Idaho Bank & Trust Final repayment of loan Police expenses (from waterworks Insurance refund Sale of Dump Truck & Boots Reimbursements - Supplies - Repairs Fire Department Total Cash Available Disbursements: Salaries Administration Office supplies Telephone Lights Fuel Water Legal Street Lights Insurance Fare Department Street & repairs Police operating expenses Prisoners board Park Department Well No. 2 fund Retirement system Payroll taxes Dog elimination Dog tags & receipts Bad check $45,081.53 5,758,51 3,499, 0;3 4,715,08 3,324.25 1,485,13 6,700.00 2,000.00 fund) 500.00 40.75 531.75 2.00 100.30 158,35 $19,301.00 382.50 1,511.87 443.86 225.20 287.24 771.00 3,147,12 2,575.65 1,481.46 6,427.35 20,472,74 1,876.11 720,12 940.02 8,753.04 1,872,41 1,860.91 120.00 33.20 25.00 6. EXHIBIT B $21,745.25 7.3_,896.68 095,641.93 73,227,80 Cash at End of Year $22,414,13 71 CITY OF C11UBB11CK, Bannock County, Idaho Statement of Cash Receipts and Disbursements EXHIBIT B-1 Year 1968 Waterworks Fund Cash to begin $12,528.97 Receipts: Rentals $32,893.53 Deposits 645.00 Hook-ups 8,639.71 Sanitation 10,611.25 Pipe and Materials 708.15 53,497.64 Total Cash Available $666,026,61 Disbursements: Salaries $ 3,290.97* Bonds redeemed 4,000.00 Briscoe contract payment 255.00 Bond interest 920,00 Power 4,252,05 Telephone 98,70 Heat 96.65 Sanitation 7,876.65 Repairs 3,595.17 Connection materials 10,240.81 Improvements 9,905,34 Office supplies 990,04 Waterworks share of Policemen's expenses 500.00 Payment of loan - General Fund 2,000.00 Insurance 199.00 Pump maintenance 720.00 Legal Ad - ordinance 387.00 Legal - engineering 497.08 Refunds of deposits 26.75 49,851.21 Cash at End of Year $10,175.40 *Salaries recorded at net to arrive at disbursements per bank. Gross wages are $3,939.00. The difference ($648.03), plus the employers share of F,I.C.A. ($173.30 will be set up as a liability to the General Fund in amount of $821.33 to be reimbursed in year 1969 operations. CITY OF CHH BBUCK, Bannock County, Idaho Statement of Cash Receipts and_ Disbursements Year 1968 Well No. 2 Fund Cash to begin Cash Received - Tax allocations from General Fund Total Cash Available Disbursements - Interest Bonds redeemed EXHIBIT B-2 $ 1,997.72 8,753.04 $10,750.76 $ 652.50 2,000.00 $ 2,652.50 Cash at End of Year $ 8,098.26 CITY OF CHUBBUCK, Bannock County, Idaho Expense Budget Comparison for 1968 GENERAL FUND Administration: Dues and Miscellaneous Salaries, clerk, mayor,Council Office supplies Civil defense Audit Phone Lights Fuel Oil Water Legal - Attorney Legal - Advertising & Ballif Street Lights Insurance Fire Department Street & repairs Police Dept. - Salaries - Repairs - Gas & oil - Radio - Car - Prisoners board Park Department Development program (Sewer & Building) Contingent Total Waterworks Fund Bonds and interest Bond sinking fund Utilities Sanitation Repairs Connection materials Improvements Office Supplies General fund Salaries Contingent Total Well leo. 2 Fund Bonds and interest 9. EXHIBIT C Appropriation Ex enditures Over/Under 1,000.00 382,50 617.50 7,800,00 6,545,00 1,255,00 1,200.00 1,066,87 133.13 100,00 -0- 100.00 500.00 445.00 55,00 500,00 443,86 56.14 400,00 225.20 174.80 500.00 287.24 212.76 1,000.00 771.00 229.00 2,400.00 1,843,52 556.48 3,000.00 1,303.60 1,696.40 4,000.00 2,575.65 1,424.35 2,000.00 1,481.46 518.54 8,000.00 6,427.35 1,572.65 18,582.10 20,472,74 (1,890.64 12,300,00 12,756.00 56. (400 500.00 211.61 288,39 1,000.00 1,527.14 (527.14) 300,00 73,06 226.94 2,000.00 64.30 1,935.70 700,00 720.12 (20.12) 2,000.00 940,02 1,059.98 10,000.00 -0- 10,000.00 2,928.40 12,664.56 (9,736.16) $82,710,50 $73,227.80 9,482.70 5,175.00 5,175.00 $ -0- 1,150.00 -0-- 1,150.00 4,400.00 4,447.40 (47.40) 8,000.00 7,876,65 123.35 4,000.00 3,595.17 404.33 4,000.00 10,240.81 (6,240,81) 15,500,00 9,905,34 5,594.66 1,000,00 990.04 9.96 2,500.00 2,500.00 -0- 4,200,00 3,939.00 261.00 6,575.00 1,829.83 4,745,17 $56,500.00 $501499.24 $ 6,000.76 $ 2,652.50 $ 2,652,50 -0- 10. CITY OF CHUBBUCH, Bannock County, Idaho Summate of Bannock County Collections and Remittances EXHIBIT D Year 1968 Unremitted Collections to begin $23,917,87 Collections by county 1962 to 1966 Taxes - Personal 447,79 1964 Taxes - Real 25,62 1965 Taxes - Real 580,98 1966 Taxes - Real 447.85 1967 Taxes - Personal 9.86 1967 Taxes - Real 11,964.57 1968 Taxes - Real 31,776.44 1968 Taxes - Personal 1,977.44 1969 Taxes - Personal 1,100.71 Penalty on delinquent taxes 47,78 Interest on delinquent taxes 252.40 Road and bridge apportionment 3,650,88 Liquor apportionment 2,670.12 Transfer unused liquor money from Jr. College tuition 1020,41 Total Accountability $79,890.72 11% Collection fee $ 729.48 Net remittance by county 45,081.53 Unremitted Collections to close 34,079,71 Total Accounted For $79,890,72 Summary of Operations in Real Taxes - Year 1968 MIIBIT D-1 1964 1965 1966 1967 1968 Total Unaid real tax $27.02 $582.53 $992.68. $13,203,01 $ $14,805,24 Tax Charges 51,599.72 $51,599.72 Totals 117.02 582.53 $992.68 $13,203,01 051,599.72 $66,404.96 Collections - Exhibit D $25.62 $580.98 $447.85 $11,964,57 $31,776.44 $44,795.46 Cancelled or Adjusted 1.40 1.55 287.20 2911.15 Unpaid 12-31-(W 544.85 1,238.45 19,536.08 21,319.38 Total Accounted $27.02 $582,53 $992.70 $11,203.02 $51,599.72 $66,404.99 Far Short or (over) -0- -0- ( .02)($ .01) -0- ($ .03) ll. CITY OF CHUBBUCK. Bannock Countv. Idaho Summary of Operations in Personal Taxes - Year 1968 Exhibit D-2 $ 9,905.34 1962 to 18,905.07 18,905 07 1966 1967 19B8 1969 Total Unpaid 1-1-68 8,728.25 20,797.54 $447.79 $237,53 +0- $ 685.32 Tax charges 1968 3,323,68 3,323.68 Totals to be accounted for $447_.79 $237_.53 $3,323.68 -0- 4,009,00 Collections - Exhibit D $447.79 9.86 $1,977.44$1,100.71 $3,535.80 Cancelled or adjusted Unpaid 12-31-68 _ -0- 227.67 1,346.24 (1,100.71) 473.20 Total accounted for $447.79 $237.53 $3,323,68 -0- $4,009.00 CITY OF C1IUBBUCK._ Bannock County Idaho Summary of Fixed Assets - Year 1968 Description - City Water System Buildings and land Furniture and fixtures Equipment Street Improvements Totals Schedule 1 January 1, 1968 Additions December 31, 1968 $126,666.55 $ 9,905.34 $136.571.89 18,905.07 18,905 07 707.34 1,812.08 2,519.42 12,069.29 8,728.25 20,797.54 11,856.97 11,856.97 $170,205.22 $20,445.67_ _ 1 04650,89 CITY OF CINBBUCK, Bannock County, Idaho Schedule of Bonds Outstanding at December 31, 1968 Revenue General Bonds Obligations Due Well #2 Number Bonds No, Date Interest Fund 1-3-110 Collections 7-1-69 04,000.00 36--40 11-1-69 111-120 2,500,00 7-1-70 4,089.70 41-45 11-1-70 121-130 2,500.00 7-1-71 2,500.00 46-50 11-1-71 131-140 5,000,00 7-1-72 2,500,00 51-55 11-1-72 4 % 56-60 11-1-73 12. Schedule 2 Property Fund Total 4 % Collections $4,000,00 04,000.00 4j% $2,500.00 $3,387.90 2,500,00 4 % 4,089.70 5,000.00 5,000000 4j+ 2,500.00 6,406.04 2,500.00 4 % 6,606.04 5,000.00 5,000,00 4 2,500,00 4,234.75 2,500.00 4 % 4,114.85 5,000.00 5,000,00 A" 2,500,00 4,946,71 2,500.00 8,378.18 2,500.00 2,500.00 Total Bonds Outstanding at December 31, 1968 $121500,00 $19,000.00 $31,500.00 Waterworks Fund Assessments & Collections January 1, balance January February March April May June July August September October November December Schedule 3 Assessments Collections Balance $6,401,39 $3,387.90 $3,559,10 6,230,19 4,089.70 3,589.10 6,730,79 3,555.25 3,880,00 6,406.04 5,677,75 5,477,75 6,606.04 4,545,65 4,609.81 6,541.88 4,405.15 4,234.75 6,712,28 4,721,66 4,114.85 7,319.09 5,931,86 4,966,07 8,284,88 4,946,71 4,853,41 8,378.18 4,237.10 4,142,65 8,472 63 4,218.05 4,338,50 8,352,18 6,242.68 5,731.65 8,863.21 Total $55,959.46 $53,497.84 $8 863.21 13. c o a N N ro n N b 1 0 O It m r Os p 46 1.4O x o 00. 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