HomeMy WebLinkAbout2022 CPF Legal Notice c6flffff-b853-4e 16-a 549-9d9a 9cb05627 sabrina.born@town.southold.ny.us
AFFIDAVIT OF PUBLICATION
The Suffolk Times {
State of New York,
County of,Suffolk,
The undersigned is the authorized designee of The Suffolk-Times,a Weekly Newspaper published in
Suffolk County,New York. I certify that the public notice,,a printed copy of which is attached hereto, ;
was printed and published in this newspaper on the following dates:
January 05,2023
This newspaper has been designated by the County Clerk of Suffolk County,as a newspaper of record in
this county,and as such, is eligible to publish such notices.
Y
Signature
Eliot T. Putnam
Printed Name .
Subscribed and sworn to before me,
This 11 day of January 2023
Notary Sign ture
MARY BETH ALESCIO WALLING
NOTARY PUBLIC,STATE OF NEW YORK
Registration No.01 AL5056219
Qualified in Saratoga County
My Commission Expires March 04,2026
Notary Public Stamp
{
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SOUTHOLD TOWN CLERK 1
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c6f1ffff-b853-4e16-a549-9d9a9cb05627 sabrina.born@town.southoId.ny.us t
AFFIDAVIT OF PUBLICATION
The Suffolk Times
i
LEGAL NOTICE
NOTICE IS HEREBY GIVEN that
the Town of Southold Peconic Bay
Community Preservation Fund
Financial Statement for the Year
Ended December 31, 2021 is on file
in the Southold Town Clerk's Office,
Southold Town Hall, 53095 Main
Road,Southold, New York,and is
available for public inspection and
copying during regular business
days and hours Monday through
Friday, 8:00 A.M.to 4:00 P.M.and
is also available for viewing on the
Town's website:
www.southoldtownny.gov
Dated: December 21,2022
DENIS NONCARROW
SOLITHO LD TOWN CLERK
i
I
i
SOUTHOLD TOWN CLERK 2
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STATE OF NEW YORK)
SS:
COUNTY OF SUFFOLK)
Denis Noncarrow, Town Clerk of the Town of Southold,New York being duly
sworn, says that on the 21St day of December, 2022, a notice of which the annexed
printed notice is a true copy was affixed, in a proper and substantial manner, in a most
public place in the Town of Southold, Suffolk County,New York, to wit: Town
Clerk's Bulletin Board, 53095 Main Road, Southold,New York and the Southold
Town Website: www.southoldtownny. og_v
2021 Peconic Bay Community Preservation Fund Financial Statement.
X4 i
--61Denis Noncarrow
Southold Town Clerk
Sworn to before me on the
21s' day of Decerruber , 2022
Notary Public
24BRINA M BORN
Notary Public,State of New York
No.01B06317038,Suffolk Courdv
Commission Expires Dec.22,20 ,
Times Review Media Group Invoice c6flffff
The Suffolk Times Date: 12/21/2022
Bill To Customer Email
SOUTHOLD TOWN CLERK sabrina.bom@town.southold.ny.us
Affidavits will be mailed or emailed (as ordered) 7 days AFTER THE
LAST INSERTION DATE.
mount�,
PUBLIC
Description
Publish Date A-
01/05/2023 $15.54
25.00
Affidavit(eMail) 1 $
Affidavit(Mail) 0 $0.00
Total: $40.54
Please remit checks payable to: Balance:
$40.54
Times Review Media Group
PO Box 1500
Mattituck, NY 11952
The invoice number MUST be included on your check to ensure that your payment is
applied correctly.
LEGAL NOTICE
NOTICE IS HEREBY GIVEN that
the Town of Southold Peconic Bay
Community Preservation Fund
Financial Statement for the Year
Ended December 31 , 2021 is on file
in the Southold Town Clerk' s Office,
Southold Town Hall , 53095 Main
Road , Southold , New York, and is
available for public inspection and
copying during regular business
days and hours Monday through
Friday, 8 : 00 A. M . to 4 :00 P . M . and
is also available for viewing on the
Town 's website:
www.southoldtownny.gov
Dated : December 21 , 2022
DENIS NONCARROW
SOUTHOLD TOWN CLERK
• i
Times Review Media Group Invoice#: c6flffff
The Suffolk Times Date: 12/21/2022
, I
Bill To Customer Email
SOUTHOLD TOWN CLERK sabrina.born@town.southold.ny.us
Affidavits will be mailed or emailed (as ordered) 7 days AFTER THE
LAST INSERTION DATE.
Description, PUblish.Date ',Amount'
i
PUBLIC 01/05/2023 $15.54
Affidavit(eMail) 1 $25.00
Affidavit(Mail) 0 $0.00
f
Total: $40.54
Please remit checks payable to:
Balance:
$40.54
Times Review Media Group
PO Box 1500
Mattituck, NY 11952
The invoice number MUST be included on your check to ensure that your payment is
applied correctly.
LEGAL NOTICE
NOTICE IS HEREBY GIVEN that
the Town of Southold Peconic Bay
Community Preservation Fund
Financial Statement for the Year
Ended December 31 , 2021 is on file
in the Southold Town Clerk ' s Office,
Southold Town Hall , 53095 Main
Road , Southold , New York, and is
available for public inspection and
copying during regular business
days and hours Monday through
Friday, 8: 00 A. M . to 4 :00 P . M . and
is also available for viewing on the
Town ' s website :
www. southoldtownny.gov
Dated : December 21 , 2022
DENIS NONCARROW
SOUTHOLD TOWN CLERK
OFFOLOFFICE LOCATION:
MELISSA A.SPIRO �O�o COGy� Town Hall Annex
LAND PRESERVATION COORDINATOR 54375 State Route 25
melissa.spiro@town.southold.ny.us (corner of Main Rd&Youngs Ave)
NSouthold,New York
Telephone(631)765-5711 �y. nT
O ® � MAILING ADDRESS:
www.southoldtownn O `�®� P.O.Box 1179
ygov Southold,NY 11971-0959
DEPARTMENT OF LAND PRESERVATION
TOWN OF SOUTHOLD
To: Denis Noncarrow, Southold Town Clerk
From: Melissa Spiro,Land Preservation Coordinator
Date: December 20, 2022
Re: Town of Southold Peconic Bay Community Preservation Fund
Financial Statements for the Year Ended December 31, 2021
Denis:
Attached you will find the PDF of the Town of Southold,Peconic Bay Community Preservation Fund Financial
Statement for the year ended December 31,2021, as prepared by Rehn&Maresco, Certified Public Accountants.
This report was completed in accordance with the Community Preservation Fund legislation. The following is
required by the law:
"...A copy of the audit shall be submitted annually to the state comptroller and the town clerk.A copy of
the audit shall be made available to the public within thirty days of its completion.A notice of the
completion of the audit shall be published in the official newspaper of the town and posted on the official
sign board of the town within ten days of its filing with the town clerk. Said audit and notice shall also be
posted on the internet site for the town.The cost of the audit may be a charge to the fund."
Please prepare a Legal Notice for submission to the official newspaper in accordance with the above. Said notice
must also be posted on the Town's bulletin board.Kindly provide me with a copy of the Legal Notice and
Affidavits of Posting. Once I have these in hand,I will send the audit and proof of postings to the State
Comptroller as required by State law.
Be advised that I have provided Lloyd Reisenberg with an electronic version of this audit report for posting on the
Town's website.
Thank you.
44 X�L.
Melissa
encs.
cc: Town Comptroller w/2021 CPF Audit Financial Statements
TOWN OF SOUTHOLD PECONIC BAY COMMUNITY PRESERVATION
FUND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2021
TOWN OF SOUTHOLD PECONIC BAY COMMUNITY
PRESERVATION FUND
TABLE OF CONTENTS
DECEMBER 31,2021
Pae s
INDEPENDENT AUDITOR'S REPORT 1
FINANCIAL STATEMENTS
Balance Sheet 2
Statement of Revenues and Expenditures 3
Notes to Financial Statements 4-5
0 Rahn () Maresco
Mamma LLC,Wgr,
INDEPENDENT AUDITOR'S REPORT
Southold Town Board
Town of Southold
Southold,New York 11971
We have audited the accompanying financial statements of Town of Southold Peconic Bay Community
Preservation Fund which comprise the balance sheet as of December 31, 2021, and the related statement of
revenues and expenditures for the year then ended,and the related notes to the financial statements.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement,whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our
audit in accordance with auditing standards generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to entity's preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances,but not for the
purpose of expressing an opinion on the effectiveness of the entity's internal control.Accordingly,we express no
such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
Opinion
In our opinion,the financial statements referred to above present fairly,in all material respects,the balance sheet
of Town of Southold Peconic Bay Community Preservation Fund as of December 31,2021,and the revenues and
expenditures for the year then ended in accordance with accounting principles generally accepted in the United
States of America.
6L 40
December 16,2022
East Setauket,New York
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286 Main Street®East Setauket®New York®11733 u T:631-751-3886®F:631-751-2740
TOWN OF SOUTHOLD PECONIC BAY COMMUNITY
PRESERVATION FUND
BALANCESHEET
DECEMBER 31, 2021
ASSETS
Restricted cash $ 20,407,770
Due from other governments 2,700,785
Accounts receivable 8,624
Prepaid expense 10,621
Land and development rights 131,144,227
TOTAL ASSETS 154,272,027
LIABILITIES
Accounts payable 15,161
Due to other funds 31,185
Accrued expenses 58,413
Bonds payable 15,772,133
TOTAL LIABILITIES 15,876,892
FUND BALANCE
Fund balance-restricted 138,395,135
TOTAL LIABILITIES AND FUND BALANCE $ 154,272,027
See accompanying notes to financial statements.
2
TOWN OF SOUTHOLD PECONIC BAY COMMUNITY
PRESERVATION FUND
STATEMENT OF REVENUES AND EXPENDITURES
DECEMBER 31, 2021
REVENUES
Community Preservation Fund transfer taxes $ 14,116,704
Interest income 29,379
Other income 16,054
TOTAL REVENUES 14,162,137
EXPENDITURES
Land acquisition costs 6,594,287
Stewardship management 16,077
Stewardship supplies 2,935
Administrative management 323,493
Administrative expenses 4,000
1,557,546
Serial bonds,principal
Serial bonds,interest 540,091
TOTAL EXPENDITURES 9,038,429
EXCESS OF EXPENDITURES OVER REVENUES $ 5,123,708
See accompanying notes to financial statements.
3
TOWN OF SOUTHOLD PECONIC BAY COMMUNITY
PRESERVATION FUND
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2021
NOTE I -NATURE OF ACTIVITIES
Nature of Activities
In 1998, the Peconic Bay Community Preservation Fund (the "Fund") was established by voter
referendum. The Fund is financed by a 2% real estate transfer tax through 2050. The overall goal is to
preserve open land and farm land by purchasing open space and environmentally sensitive lands. Funds
are also allowed to be used for management and stewardship of the acquired properties. The Peconic
Bay Community Preservation Fund is accounted for as a major fund in the Town of Southold, New
York financial statements.
NOTE 2-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The financial statements have been prepared on the accrual basis of accounting in accordance with
accounting principles generally accepted in the United States of America ("GAAP") as applied to
governmental units. The Governmental Accounting Standards Board ("GASB") is the accepted
standard setting body for establishing governmental accounting and financial reporting principles.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make
estimates and assumptions that affect the reported amount of assets and liabilities at the date of the
financial statements, and the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
Cash and Cash Equivalents
Cash consists of funds deposited in demand accounts and time deposit accounts with maturities of less
than three months from the date acquired by the Fund.
Concentration of Credit Risk
Financial instruments that potentially subject the Fund to concentrations of credit risk consist of
demand deposits with a financial institution. At December 31, 2021 there are no balances exceeding
FIC insurance of $250,000. The Fund believes there is minimal credit risk relative to its cash and
investment accounts.
4
TOWN OF SOUTHOLD PECONIC BAY COMMUNITY
PRESERVATION FUND
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2021
NOTE 2—BONDS PAYABLE
Bond payable - in yearly variable installments, including
variable interest rates at 4% in 2020, 3% in 2021, 4%
through February 2025, and 2%,thereafter. $ 11,625,821
Bond payable - in yearly variable installments, including
variable interest rates at 4% through March 2023, 5%
through March 2027, and 3%thereafter. 4,146,312
15,772,133
Less: Current maturities 1,580,373
Long-term debt $ 14,191,760
Aggregate maturities of long-term debt are as follows:
Years ending December 31:
2022 1,580,373
2023 1,661,516
2024 1,730,189
2025 1,767,250
2026 1,779,211
Thereafter 7,253,594
$ 15,772,133
NOTE 3 -SUBSEQUENT EVENTS
The Fund has evaluated all subsequent events through December 16, 2022, the date the financial
statements were available to be issued, and determined that, except as discussed below, there were no
events which have occurred that would require disclosure or adjustments to the financial statements.
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