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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.
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4.
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.
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