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2003
LEGAL NOTICE NOTICE IS HEREBY GIVEN that the Annual Financial Report of the Town of Southold for the Fiscal Year 2003 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. Dated: April 29, 2004 ELIZABETH A~ NEVILLE SOUTHOLD TOWN CLERK PLEASE PUBLISH ONCE ON MAY 6, 2004, AND FORWARD TWO (2) AFFDAVITS OF PUBLICATION TO ELIZABETH NEVILLE, SOUTHOLD TOWN CLERK. TOWN HALL, PO BOX 1179. SOUTHOLD, NY 11971. Copies to the following: Suffolk Times 1'own Board Members Town Attorney Town Comptroller Town Clerk's Bulletin Board STATE OF NEW YORK ) SS: COUNTY OF SUFFOLK) ELIZABETH A. NEVILLE, Town Clerk of the Town of Southold. New York being duly sworn, says that on the ~q day of (-~.~0. ,2004, she affixed a notice of which the annexed printed notice is a true copy, in a proper and substantial manner, in a most public place in the Town of Southold, Suffolk County, New York. to w/t: Town Clerk's Bulletin Board~ Southold Town Hall, 53095 Main Road, Southold, NY 2003 ANNUAL FINANCIAL REPORT OF THE TOWN OF SOUTHOLD El-izabfftl~ A. Neville Southold Town Clerk Sworn to before me this day of(J~2v. , 2004. Notary Public LYNDA M. BOHN NOTARY PUBLIC, State of New Yor~ No. 01 BO6020932 Qualified in Suffolk Coun~ Term Expires March 8, 20 ~ All Numbers in This Report Have Been Rounded To The Nearest Dollar ANNUAL FINANCIAL REPORT UPDATE DOCUMENT For The TOWN of Southold County of Suffolk For the Fiscal Year Ended 12/31/2003 RECEIVED LLU~ Southold Town Clerl~ AUTHORIZATION ARTICLE 3, SECTION 30 of the GENERAL MUNICPAL LAW: 1. ***Every Municipal Corporation *** shall annually make a report of its financial condition to the Comptroller. Such report shall be made by the Chief Fiscal Officer of such Municipal Corporation *** 5. All reports shall be certified by the officer making the same and shall be filed with the Comptroller within sixty days after the close of the fiscal year of such Municipal Corporation *** It shall be the duty of the incumbent officer at the time such reports are required to be filed with the Comptroller to file such report *** State of NEW YORK Office of The State Comptroller Division of Local Government Services and Economic Development Albany, New York 12236 Page 1 TOWN OF Southold *** FINANCIAL SECTION *** Financial Information for the following funds and account groups are included in the Annual Financial Report filed by your government for the fiscal year ended 2002 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2003: (A) GENERAL (B) GENERAL TOWN-OUTSIDE VG (CD) SPECIAL GRANT (DA) HIGHWAY-TOWN-WIDE (DB) HIGHWAY-PART-TOWN (H) CAPITAL PROJECTS (K) NON-CURRENT GOV ASSETS (SF) FIRE PROTECTION (SM) MISCELLANEOUS (SP) PARK (SR) REFUSE AND GARBAGE (SS) SEWER (TA) AGENCY (W) NON-CURRENT GOV LIABILITY All amounts included in this update document for 2002 represent data filed by your government with OSC as reviewed and adjusted where necessary. *** SUPPLEMENTAL SECTION *** The Supplemental Section includes the following sections: 1 ) Statement of Indebtedness 2) Schedule of Securities for Collateralization 3) Schedule of Time Deposits and Investments 4) Investment Certification 5) Bank Reconciliation 6) Local Government Questionnaire All numbers in this report will be rounded to the nearest dollar. Page 2 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Balance Sheet Assets Cash 15,205,834 A200 14,148,054 Cash in Time Deposits 2,395,962 A201 5,392,816 Petty Cash 350 A210 351 Cash With Fiscal Agent 10,000 A223 10,000 Taxes Receivable, Current 59,769,372 A250 66,362,080 Accounts Receivable 48,012 A380 1,168 State & Federal, Other 8,454 A410 13,195 Due From Other Funds 164,946 A391 467,444 Due From Other Governments 1,376,893 A440 112,471 Inventory 1,092 A445 1,296 Prepaid Expenses 346,041 A480 69,863 Page 3 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Balance Sheet Liabilities And Fund Equity Accounts Payable 524,804 A600 792,860 Due To Other Funds 7,697,432 A630 8,322,926 Due To Other Governments 54,047,943 A631 58,162,228 Deferred Revenues 13,276,067 A691 13,981,314 insurance Reserve Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 227,305 A863 1,033,085 1,186,000 A910 2,008,000 2,367,405 A911 2,278,327 Page 4 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation Detail Revenues And Other Sources Real Property Taxes Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes Non Prop Tax Dist By County Treasurer Fees Clerk Fees Other General Departmental Income Police Fees Charges-Programs For The Aging Park And Recreational Charges Special Recreational Facility Charges Zoning Fees Other Home & Community Services Income General Services, Inter Government Programs For Aging, Other Govts Misc Revenue, Other Govts interest And Earnings Rental of Real Property Rental, Other (specify) Bingo Licenses Dog Licenses Permits, Other Fines And Fodeited Bail Forteitures of Deposits Sales of Scrap & Excess Materials Sales, Other Insurance Recoveries Refunds of Prior Year's Expenditures Gifts And Donations Unclassified (specify) St Aid, Mortgage Tax St Aid, Real Property Tax Administration St Aid - Other (specify) St Aid, Youth Programs 12,237,940 A1001 13,247,572 20,075 A1081 18,474 65,169 A1090 32,837 401,035 Al120 401,035 4,125 A1230 5,400 10,075 A1255 16,272 520 A1289 1,018 8,119 A1520 4,565 130,960 A1972 158,430 81,689 A2001 71,354 159,996 A2025 30,542 4,899 A2110 128 31,360 A2189 27,589 143,002 A2210 135,915 61,712 A2381 66,179 10,024 A2389 823 130,186 A2401 86,459 113,599 A2410 112,079 2,922 A2440 3,164 1,266 A2540 987 10,702 A2544 9,752 198,895 A2590 177,741 100,377 A2610 106,149 1,655 A2620 935 10,589 A2650 6,009 212 A2655 3,129 124,544 A2680 47,755 2,520 A2701 11,960 32,078 A2705 19,739 81,021 A2770 101,647 1,586,273 A3005 2,138,003 16,054 A3040 13,487 63,589 A3089 40,098 32,034 A3820 32,034 Page 5 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation Detail Revenues And Other Sources St Aid Emergency Disaster Assistance 119 A3960 1,780 Fed Aid Other Public Safety Fed Aid, Programs For Aging Fed Aid, Emergency Disaster Assistance 5,495 A4389 3,988 126,318 A4772 128,818 714 A4960 13,768 Interfund Transfers 1,780,257 A5031 2,570,440 Page 6 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation Municipa~ Coud, Pers Serv Municipal Court, Equip & Cap Outlay Municipal Court, Contr Expend 296,848 Al1101 310,525 185 Al1102 717 30,163 Al1104 40,687 Supervisor,pers Sen/ Supervisor,equip & Cap Outlay Supervisor,contr Expend 162,906 A12201 164,862 A12202 9,325 A12204 5,990 Dir of Finance, Pers Serv Dir of Finance, Equip & Cap Outlay Dir of Finance, Contr Expend 180,956 A13101 220,079 738 A13102 66 14,288 A13104 14,112 Auditor, Contr Expend 25,500 A13204 19,000 Tax Collection,pers Serv Tax Colleotion,contr Expend 85,790 A13301 72,230 12,606 A13304 15,079 Assessment, Pers Sen/ Assessment, Equip & Cap Outlay Assessment, Contr Expend 283,261 A13551 293,002 A13552 1,018 18,351 A13554 32,056 Clerk,pers Serv 293,514 A14101 266,209 Clerk,equip & Cap Outlay 899 A14102 1,665 Clerk,contr Expend 7,641 A14104 7,363 Law, Pers Sen/ 165,665 A14201 199,559 Law, Equip & Cap Outlay A14202 203 Law, Contr Expend 20,297 A14204 28,094 Engineer, Pers Serv 54,702 A14401 56,344 Engineer, Contr Expend 1,213 A14404 1,727 Public Works Admin, Pers Serv Public Works Admin, Contr Expend 46,914 A14901 48,420 521 A14904 394 Buildings, Pers Serv Buildings, Equip & Cap Outlay Buildings, Contr Expend 326,799 A16201 347,059 211,268 A16202 64,267 345,055 A16204 413,110 Central Garage, Equip & Cap Outlay Central Garage, Contr Expend 35,731 A16402 12,947 A16404 7,460 Central Print & Mail, Equip & Cap Outlay 19,589 A16702 23,058 Page 7 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation 2,,i' ~li~ Detail Expenditures And Other Uses Central Print & Mail,contr Expend Central Data Process, Pers Sen/ Central Data Process & Cap Outlay Central Data Process, Contr Expend Unallocated Insurance, Contr Expend Municipal Assn Dues, Contr Expend 37,058 A16704 37,162 119,429 A16801 125,614 A16802 34,001 134,198 A16804 149,931 407,839 A19104 531,834 1,200 A19204 1,650 Public Safety Corem Sy$, Pets Sen/ Public Safety Corem Sys, Equip & Cap Outlay Public Safety Comm Sys, Contr Expend Police, Pers Serv Police, Equip & Cap Outlay Police, Contr Expend Traffic Control, Equip & Cap Outlay Traffic Control, Contr Expert Fire, Contr Expend Control of Animals, Equip & Cap Outlay Control of Animals, Contr Expend Examining Boards, Pers Serv Examining Boards, Contr Expend Civil Defense, Pets Serv Civil Defense, Equip & Cap Outlay Civil Defense, Contr Expend 584,960 A30201 496,132 61,845 A30202 57,566 34,164 A30204 38,933 4,546,778 A31201 4,864,893 153,548 A31202 112,799 238,498 A31204 274,949 11,399 A33102 11,643 A33104 17,932 A34104 338 4,351 A35102 1,750 140,039 A35104 150,000 5,615 A36101 5,811 4,545 A36104 3,747 4,753 A36401 5,026 1,152 A36402 1,233 3,537 A36404 2,098 Public Health, Contr Expend Narcotic Guid Council, Contr Expend 300 A40104 32,988 A42104 32,988 Street Admin, Pers Serv Street Lighting, Pers Sen/ Street Lighting, Equip & Cap Outtay 183,972 A50101 206,741 49,393 A51821 51,984 8,981 A51822 Page 8 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation ~,, Detail Expenditures And Other Uses Street Lighting, Contr Expend Off-Street Parking, Contr Expend 95,341 A61824 97,017 3,984 A56504 42,617 Publicity, Contr Expend Programs For Aging, Pers Serv Programs For Aging, Equip & Cap Outlay Programs For Aging, Contr Expend 40,000 A64104 40,000 492,401 A67721 580,339 11,630 A67722 24,581 186,522 A67724 188,581 Recreation Admini, Pers Serv Recreation Admini, Equip & Cap Outlay Recreation Admini, Contr Expend Special Rec Facility, Pers Serv Special Rec Facility, Contr Expend Library, Contr Expend Historian, Pers Serv Historian, Equip & Cap Outlay Historian, Contr Expend Historical Property, Pets Serv Celebrations, Contr Expend 111,387 A70201 91,394 673 A70202 60 75,275 A70204 72,324 92,628 A71801 85,908 8,403 A71804 7,032 45,000 A74104 45,000 13,164 A75101 14,299 814 A75102 547 902 A75104 286 929 A75201 919 946 A75504 Planning, Contr Expend Environmental Control, Pets Serv Environmental Control, Equip & Cap Outlay Environmental Control, Contr Expend Refuse & Garbage, Contr Expend Corem Beautification, Equip & Cap Outlay Shade Tree, Pers Serv Shade Tree, Contr Expend Conservation, Equip & Cap Outlay 22,020 A80204 8,500 111,674 A80901 129,304 887 A80902 887 3,647 A80904 4,883 30,440 A81604 21,987 10,024 A85102 737 A85601 986 11,360 A85604 7,951 A87102 1,586 Page 9 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Conservation, Contr Expend Fish And Game, Contr Expend Flood & Erosion Control, Equip & Cap Outle Cemetery, Contr Expend Misc Home & Comm Serv, Pers Serv Misc Home & Corem Serv, Contr Expend 8,657 A87104 6,732 36,944 A87204 27,207 25,220 A87452 6 A88104 6 52,893 A89891 16,777 1,255 A89894 1,772 State Retirement System Police & Firemen Retirement, Empl Bnfts Social Security, Employer Cont Worker's Compensation, Empl Bnfts Unemployment Insurance, Empl Bnfts Disability Insurance, Empl Bnfts Hospital & Medical (dental) Ins, Empl Bnft Other Employee Benefits (spec) 48,003 A90108 213,333 67,018 A90158 242,687 600,380 A90308 623,703 188,564 A90408 159,710 6,682 A90508 24,349 116,097 A90558 117,717 2,584,982 A90608 2,396,302 5,019 A90898 17,572 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 598,015 A97106 615,517 519,202 A97306 418,423 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 401,832 A97107 373,888 31,398 A97307 17,913 Transfers, Other Funds 1,021,931 A99019 1,492,358 Page 10 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity-Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity. End of Year 3,317,080 A8021 3,780,710 3,317,080 A8022 3,780,710 17,792,117 19,848,044 17,328,487 18,309,341 3,780,710 A8029 5,319,412 Page 11 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes A1049B 13,247,572 13,247,572 0 13,962,268 Est Rev - Real Property Tax Items A1099B 60,000 60,000 0 48,500 Est Rev - Non Property Tax Items A1199B 400,000 400,000 0 401,035 Est Rev - Departmental Income A1299B 336,400 410,121 73,721 564,550 Est Rev - Intergovernmental Charges A2399B 246,914 116,910 -130,004 130,860 Est Rev - Use of Money And Property A2499B 243,964 243,964 0 210,301 Est Rev - Licenses And Permits A2599B 187,850 187,850 0 221,130 Est Rev ~ Fines And Forfeitures A2649B 96,500 96,500 0 102,000 Est Rev - Sale of Prop And Comp For Loss A2699B 240,400 249,939 9,539 250,300 Est Rev - Miscellaneous Local Sources A2799B 118,200 138,829 20,629 4,000 Est Rev - Interfund Revenues A2801B 0 Est Rev - State Aid A3099B 1,302,000 1,339,616 37,616 1,543,034 Est Rev - Federal Aid A4099B 146,433 146,433 Estimated - Interfund Transfer Appropriated Reserve Obligations Authorized Estimated - Proceeds of Obligations Appropriated Fund Balance A5031B 2,749,900 2,749,900 0 A511B 0 A530B 0 A5799B 0 A599B 1,186,000 1,186,000 0 2,008,000 Page 12 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (A) GENERAL Budget Summary Appropriations And Other Uses App - General Government Support A1999B 3,836,825 4,024,052 -187,227 4,885,830 App - Education A2999B 0 App - Public Safely A3999B 6,235,956 6,272,245 -36,289 6,362,055 App - Health A4999B 33,300 33,300 0 33,300 App - Transportation A5999B 369,200 410,725 -41,525 405,900 App - Economic Assistance And Oppor[unity A6999B 849,560 866,388 -16,828 930,875 App - Culture And Recreation A7999B 350,555 350,555 0 373,530 App * Home And Community Services A8999B 223,011 244,016 -21,005 257,781 App - Employee Benefits A9199B 5,475,016 5,356,461 118,555 3,263,625 App - Debt Service A9899B 1,483,600 1,433,600 50,000 1,540,400 Other Budgetary Purposes App - Interfund Transfer A962B 0 A9999B 1,558,677 1,582,291 ~23,614 1,392,682 Page 13 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet Assets Cash In Time Deposits 971,636 B201 584,160 Due From Other Funds 399,292 B391 533,055 Prepaid Expenses 34,428 B480 1,320 Page 14 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet Liabilities And Fund Equity Accounts Payable 32,479 BS00 49,672 Due To Other Funds B630 70,531 Deferred Revenues 294,256 B691 442,976 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 483,000 B910 329,000 595,624 B911 226,356 Page 15 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Results of Operation Detail Revenues And Other Sources Real Prope~y Taxes Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes Franchises Other General Departmental Income Safety Inspection Fees Public Health Fees Zoning Fees Planning Board Fees Additional Description Correct 2002 revenue Interest And Earnings Permits, Other Forfeitures of Deposits Sales, Other Refunds of Prior Year's Expenditures Unclassified (specify) St Aid, State Revenue Sharing 274,942 B1001 294,256 473 B1081 430 791 B1090 112 110,225 Bl170 117,449 7,950 B1289 7,652 1,016,627 B1560 477,994 10,972 B1501 12,313 77,245 B2t10 59,285 135,066 B2115 -13,639 17,872 B2401 8,557 5,130 B2590 2,000 B2620 49,000 4,450 B2655 8,248 11,138 B2701 B2770 231 72,650 B3001 72,650 Page 16 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Results of Operation Detail Expenditures And Other Uses Law, Pets Serv B14201 55,974 Law, Contr Expend 27,703 B14204 59,361 Unallocated Insurance, Contr Expend 15,080 B19104 19,613 Safety Inspection, Pers Serv Safety Inspection, Equip & Cap Outlay Safety Inspection, Contr Expend 465,552 B36201 398,079 B36202 352 92,952 B36204 10,005 Public Health, Pers Serv 6,161 B40101 6,408 Zoning, Pets Serv 121,724 B80101 142,312 Zoning, Equip & Cap Outlay 899 B80102 489 Zoning, Contr Expend 5,798 B80104 10,941 Planning, Pets Serv Planning, Equip & Cap Outlay Planning, Contr Expend 268,160 B80201 306,216 1,745 B80202 1,135 87,874 B80204 167,218 State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Disability Insurance, Empl Bnfts Other Employee Benefits (spec) 6,760 B90108 37,814 66,297 B90308 70,038 14,971 B90408 8,658 14,952 B90558 15,061 5,019 B90898 7,322 Debt Principal, Serial Bonds 4,352 B97106 5,078 Debt Interest, Serial Bonds 1,197 B97107 932 Transfers, Other Funds 189,033 B99019 296,777 Page 17 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 729,320 B8021 1,078,625 729,320 B8022 1,078,625 1,396,227 1~619,804 1,078,625 B8029 555,356 Page 18 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes B1049B Est Rev - Real Property Tax Items B1099B Est Rev - Non Property Tax items B1199B Est Rev - Departmental Income B1299B EsT. ReV. - Intergovernmental Charges B2399B Est Rev - Use of Money And Property B2499B Est Rev - Licenses And Permits B2599B Est Rev - Fines And Forfeitures B2649B Est Rev - Sale of Prop And Comp For Loss B2699B Est Rev-Miscellaneous Local Sources B2799B Est Rev-lnterfund Revenues B2801B Est Rev-State Aid B3099B Est Rev - Federal Aid B4099B 294,256 294,256 0 442,976 500 500 0 500 120,000 120,000 0 175,000 688,250 688,250 0 708,800 0 20,000 20,000 0 10,000 4,100 4,100 0 4,100 49,000 49,000 0 9,000 9,000 0 9,000 0 0 72,650 72,650 0 72,650 0 Estimated - Interfund Transfers Appropriated Reserve Obligations Authorized Estimated o Proceeds of Obligations Appropriated Fund Balance B5031B B530B B5799B B599B 0 0 0 0 483,000 483,000 0 329,000 Page 19 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (B) GENERAL TOWN-OUTSIDE VG Budget Summary Appropriations And Other Uses App - General Government Support B1999B App - Public Safety B3999B App - Health B4999B App - Transportation B5999B App-Economic Assistance And Opportunity B6999B App - Culture And Recreation B7999B App - Home And Community Services B8999B App - Employee Benefits B91998 App - Debt Service B9899B 142,750 136,125 6,625 189,650 452,450 460,491 -8,041 445,350 6,500 6,500 0 6,700 0 645,300 659,184 -13,884 579,250 0 0 175,806 160,506 15,300 231,525 6,050 6,050 0 5,750 Other Budgetary Purposes App - Interfund Transfer B962B B9999B 0 311,900 311,900 0 293,801 Page 20 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Balance Sheet Assets Due From Other Governments 65,660 CD440 35,051 Page 21 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds 65,660 CD600 20,051 CD630 15,000 Page 22 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Results of Operation Detail Revenues And Other Sources Fed Aid, Community Development Act 119,380 CD4910 111,299 Page 23 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Results of Operation Detail Expenditures And Other Uses Rehab Loans & Grant, Equip & Cap Outlay 20,380 CD86682 Prov of Public Service, Contr Expen 104,000 CD86764 111,299 Page 24 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (CD) SPECIAL GRANT Changes in Fund Equi[y ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity. Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity-End of Year 5,000 CD8021 0 5,000 CD8022 0 119,380 111,299 124,380 111,299 0 CD8029 0 Page 25 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DA) HIGHWAY-TOWN-WIDE Balance Sheet Assets Cash In Time Deposits Due From Other Funds Prepaid Expenses Misc Current Assets Additional Description 2003-2004 Property Tax Warrant 398,391 DA201 302,314 1,029,476 DA391 46,365 1,501 DA480 DA489 109,550 Page 26 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DA) HIGHWAY-TOWN-WIDE Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds 36,247 DA600 96,263 8,869 DA630 112,684 1,029,476 DA691 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 120,000 DA910 112,000 234,775 DA911 137,282 Page 27 OSC Municipality Code 470379000000 (DA) HIGHWAY-TOWN-WIDE Results of Operation Detail Revenues And Other Sources Real Property Taxes Other Payments In Lieu of Taxes interest & Penalties On Real Prop Taxes Interest And Earnings Insurance Recoveries Refunds of Prior Year*s Expenditures Interfund Revenues St Aid Emergency Disaster Assistance Fed Aid Emer Disaster Assist TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 1,102,210 1,815 3,098 12,483 25,940 4,197 DA1001 1,029,476 DA1081 1,441 DA1090 413 DA2401 5,451 DA2680 2,429 DA2701 DA2801 DA3960 11,283 DA4960 67,699 Page 28 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DA) HIGHWAY-TOWN-WIDE Results of Operation Detail Expenditures And Other Uses Machinery, Pers Serv Machinery, Equip & Cap Outlay Machinery, Contr Expend Brush And Weeds, Pers Serv Brush And Weeds, Equip & Cap Outlay Brush And Weeds, Contr Expend Snow Removal, Equip & Cap Outlay Snow Removal, Contr Expend 344,337 DA51301 286,004 38,640 DA51302 56,593 101,324 DA51304 137,202 84,399 DA51401 81,787 1,260 DA51402 34,385 DA51404 31,719 148,449 DA51421 259,848 8,689 DA51422 15,097 30,078 DA51424 65,229 State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Disability Insurance, Empl Bnfts 6,120 DA90108 19,485 44,155 DA90308 48,016 41,365 DA90408 28,227 6,204 DA90558 5,472 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 1,818 DA97106 2,121 73,000 DA97306 60,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 500 DA97107 389 4,797 DA97307 3,489 Transfers, Other Funds 83,476 DA99019 123,006 Page 29 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DA) HIGHWAY-TOWN-WIDE Changes in Fund Equity ~'~ iiirl,~~r ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 258,030 DA8021 354,775 258,030 DA8022 354,775 1,149,742 1,118,192 1,052,996 1,223,685 354,775 DA8029 249,282 Page 30 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DA) HIGHWAY-TOWN-WIDE Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes DA1049B Est Rev - Real Property Tax Items DA1099B Est Rev - Non Property Tax Items DA1199B Est Rev Departmental Income DA1299B EsT ReV - Intergovernmental Charges DA2399B Est Rev - Use of Money And Property DA2499B Est Rev - Licenses And Permits DA2599B Est Rev Fines And Forfeitures DA2649B Est Rev - Sale of Prop And Comp For Loss DA2699B Est Rev Miscellaneous Local Sources DA2799B Est Rev - Interfund Revenues DA2801B Est Rev - State Aid DA3099B Est Rev - Federal Aid DA4099B Estimated - Interfund Transfer Appropriated Reserve Obligations Authorized Estimated - Proceeds of Obligations Appropriated Fund Balance DAS031B DA511B DA530B DA5799B DA599B 1,029,476 2,200 12,000 3,500 120,000 1,029,476 2,200 12,000 3,500 11,283 67,698 0 0 0 0 0 0 0 0 0 0 0 11,283 67,698 -109,550 153,500 0 0 0 0 33,500 112,000 Page 31 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DA) HIGHWAY-TOWN-WIDE Budget Summary Appropriations And Other Uses App - Transportation App - Home And Community Services App - Employee Benefits App - Debt Service Other Budgetary Purposes Interfund Transfers DA5999B 814,300 938,931 -124,631 DA8999B 0 DA9199B 145,086 132,936 12,150 DA9899B 69,790 69,790 0 DA962B DA9999B 2,450 138,000 0 138,000 0 Page 32 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (OB) HIGHWAY-PART-TOWN Balance Sheet Accounts Receivable State & Federal Receivables Due From Other Funds 2,493,583 Prepaid Expenses 5,093 561,205 DB201 650,683 1,361 0B380 1,154 DB410 49,843 DB391 3,670,184 DB480 Page 33 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Balance Sheet Liabilities And Fund Equity Accounts Payable Deferred Revenues 337,527 DB600 89,180 2,484,426 DB691 3,629,882 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 146,800 DB910 239,000 92,489 DB911 413,802 Page 34 OSC Municipality Code 470379000000 (DB) HIGHWAY-PART-TOWN Results of Operation Detail Revenues And Other Sources Real Property Taxes Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes Transportation Services, Other Govts Interest And Earnings Permits, Other Insurance Recoveries Interfund Revenues St Aid, Consolidated Highway Aid TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 2,326,360 DB1001 2,484,426 3,998 DB1081 3,627 6,072 DB1090 947 DB2300 15,573 22,143 DB2401 13,069 10,351 DB2590 8,231 DB2680 1,604 655 DB2801 DB3501 447,404 Page 35 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Results of Operation Detail Expenditures And Other Uses Maint of Streets, Pars Serv Maint of Streets, Contr Expend Perm Improve Highway, Equip & Cap Outlay 1,164,779 DB51101 949,518 543,315 DB51104 403,116 51,117 DB51122 447,404 State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Disability insurance, Empl Bnfts 22,256 DB90108 83,244 89,106 DB90308 72,639 105,057 DB90408 81,735 25,909 DB90558 23,290 Debt Principal, Serial Bonds 6,611 DB97106 7,713 Debt Interest, Serial Bonds 1,818 DB97107 1,415 Transfers, Other Funds 349,795 DB99019 491,293 Page 36 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 229,475 DB8021 239,289 229,475 DB8022 239,289 2,369,579 2,974,880 2,359,765 2,561,367 239,289 DB8029 652,802 Page 37 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Properbj Tax Items Est Rev - Non Property Tax items Est Rev - Departmental Income EsT. ReV. - Intergovernmental Charges Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - Fines And Forfeitures Est Rev - Sale of Prop And Comp For Loss Est Rev- Miscellaneous Local Sources Est Rev - Intarfund Revenues Est Rev - State Aid Est Rev - Federal Aid Estimated - Inter[und Transfer Appropriated Obligations Authorized Estimated - Proceeds of Obligations Appropriated Fund Balance DB1049B 2,484,426 2,484,426 0 3,629,882 DB1099B 4,800 4,800 0 5,600 DB1199B 0 DB1299B 0 DB2399B 0 21,000 DB2499B 20,000 20,000 0 20,500 DB2599B 21,000 21,000 0 500 DB2649B 0 DB2699B 4,000 4,000 0 DB2799B 0 DB2801B 0 DB3099B 223,700 447,404 223,704 223,700 DB4099B 0 DB5031B DB511B DB530B DB5799B DB599B 146,800 o 0 0 0 146,800 0 239,000 Page 38 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (DB) HIGHWAY-PART-TOWN Budget Summary Appropriations And Other Uses App - Transportation DB5999B 1,923,100 2,146,804 -223,704 2,883,400 App - Home And Community Services DB8999B 0 App - Employee Benefits DB9199B 421,491 421,491 0 542,500 App - Debt Service DB9899B 9,135 9,135 0 145,720 Other Budgetary Purposes DB962B 0 Interfund Transfers DB9999B 551,000 551,000 0 568,562 Page 39 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (H} CAPITAL PROJECTS Balance Sheet Assets Cash In Time Deposits 8,690,111 H201 11,660,563 Accounts Receivable 29,832 H350 31,004 State & Federal Receivables 2,186 H410 1,026,645 Due From Other Funds 195,798 H391 225,200 Due From Other Governments 207,505 H446 577,530 Prepaid Expenses 6,106 H480 Page 40 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Balance Sheet Liabilities And Fund Equity Accounts Payable Retained Percentages, Cont Pay Bond Anticipation Notes Payable Other Liabilities 1,457,284 H600 1,010,229 299,224 H605 438,409 11,020,709 H626 14,768,302 H688 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 3,413,820 H910 11,706,935 -7,059,498 H911 -14,382,933 Page 41 OSC Municipality Code 470379000000 (H) CAPITAL PROJECTS Results of Operation Detail Revenues And Other Sources Misc Revenue, Other Govts Interest And Earnings Insurance Recoveries Gifts And Donations Unclassified (specify) St Aid, Other Home And Comm Sexy Fed Aid - Cap Projects Inter[und Transfers Bans Redeemed From Appropriations TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 3,861,033 H2389 4,603,354 155,375 H2401 87,513 H2680 16,000 7,000 H2705 H2770 77,664 504,097 H3989 1,577,593 H4097 972,336 255,000 H5031 404,533 1,144,702 H5731 986,923 Page 42 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Results of Operation Detail Expenditures And Other Uses General Govt, Equip & Cap Outlay 2,890,752 H19972 2,830,142 Highway, Capital Projects Other Transportation, Equip & Cap Outlay 33,137 H51972 250,524 H59892 2,338,296 Other Econ& Dev, Equip & Cap OuUay H69972 32,858 Parks, Equip & Cap Outlay 351,497 H71102 220,629 Environmental Control, Equip & Cap Outlay Sanitation, Equip & Cap Outlay 3,424 H80902 5,385,931 H87972 2,302,581 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 83,010 H97107 19,317 61,044 H97307 12,413 Page 43 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (H) CAPITAL PROJECTS Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year -513,567 H802'1 -3,645,678 -5~13,567 H8022 -3,645,678 5,927,207 8,725,915 9,059,318 7,756,235 -3,645,678 H8629 -2,675,998 Page 44 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 {K) NON-CURRENT GOV ASSETS Balance Sheet Assets Land Buildings Improvements Other Than Buildings Machinery & Equipment Construction Work In Progress Infrastructure 17,633,435 K101 33,106,202 8,877,944 K102 7,757,901 132,389 K103 14,459,032 16,174,727 K104 11,077,486 K105 3,066,170 K106 71,099,071 Page 45 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (K) NON-CURRENT GOV ASSETS Balance Sheet Liabilities And Fund Equity Total Non-Current Govt Assets 42,818,495 K159 140,565,861 Page 46 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SF) FIRE PROTECTION Balance Sheet .~$et$ Cash In Time Deposits Due From Other Funds 22,440 SF201 19,973 338,261 SF391 373,523 Page 47 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SF) FIRE PROTECTION Balance Sheet Liabilities And Fund Equity Accounts Payable Deferred Revenues 12,496 SF600 12,441 338,261 SF691 373,523 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 4,300 SF910 5,644 SF911 7,532 Page 48 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SF) FIRE PROTECTION Results of Operation Detail Revenues And Other Sources Real Property Taxes Interest & Penalties On Real Prop Taxes Interest And Earnings 305,758 SF1001 338,261 59 SF1090 59 1,378 SF2401 735 Page 49 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SF) FIRE PROTECTION Results of Operation Detail Expenditures And Other Uses Fire Protection, Contr Expend 316,799 SF34104 341,468 Page 50 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SF) FIRE PROTECTION Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 19,548 SF8021 9,944 19,548 SF8022 9,944 307,196 339,055 316,799 341,468 9,944 SF8029 7,531 Page 51 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Balance Sheet Assets Cash Cash In Time Deposits Petty Cash State & Federal Receivables Due From Other Funds Prepaid Expenses 31,783 SM200 6,087 424,242 SM201 474,469 1,550 SM210 1,550 16,559 SM410 55,740 551,452 SM391 616,341 32,589 SM480 Page 52 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds 53,751 SM600 72,153 28,719 SM630 445,000 SM691 460,000 Unreserved Fund Balance Unappropriated 530,705 SM911 622,035 Page 53 OSC Municipality Code 470379000000 (SM) MISCELLANEOUS Results of Operation Detail Revenues And Other Sources Real Property Taxes Interest & Penalties On Real Prop Taxes Other General Depa~mental Income Misc Revenue, Other Govts Interest And Earnings Commissions Refunds of Prior Year's Expenditures Gifts And Donations Unclassified {specify) St Aid, Other Aid (specify) Federal Aid - Other TOWN OF SouthoId Annual Update Document For the Fiscal Year Ending 2003 380,000 SM1001 445,000 74 SM1090 66 1,563,510 SM1289 1,704,283 17,552 SM2389 17,528 6,166 SM2401 4,767 481 SM2450 4,671 SM2701 232 SM2705 5,650 56,581 SM2770 17,667 SM3089 3,761 15,687 SM4089 120,622 Page 54 ©SC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Results of Operation Detail Expenditures And Other Uses Other Gen Govt Support, Contr Expend 85,180 SM19894 105,446 Insect Control, Pers Serv Insect Control, Contr Expend Insect Control, Empl Bnfts 27,371 SM40681 27,768 30,521 SM40684 34,236 4,692 SM40688 4,957 Other Transportation, Pets Serv Other Transportation, Ewuip & Cap Outlay Other Transportation, Contr Expend Other Transportation, Empl Bnfts 915,690 SM56801 938,849 151,992 SM56802 333,166 202,679 SM56804 257,308 208,052 SM56808 247,693 Misc Home & Corem Serv, Contr Expend 11,257 SM89894 18,403 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 32,204 SM97106 32,571 25,000 SM97306 25,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 10,317 SM97107 7,449 12,247 SM97307 7,404 Transfers, Capital Projects Fund 175,000 SM99509 175,000 Page 55 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SM) MISCELLANEOUS Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity- End of Year 365,190 SM8021 530,704 365,t90 SM8022 530,704 2,057,717 2,306,581 1,892,202 2,215,251 530,704 SM8029 622,034 Page 56 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (sP) PARK Balance Sheet Assets Cash Cash In Time Deposits Accounts Receivable Due From Other Funds SP200 208,727 SP201 356,840 510 SP380 739,580 SP391 843,943 Page 57 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SP) PARK Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds Due To Other Governments Deferred Revenues 19,262 SP600 19,485 23,651 SP630 23,651 540 SP631 447 740,080 SP691 843,943 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 10,000 SP910 2,500 155,284 SP911 310,757 Page 58 OSC Municipality Code 470379000000 (SP) PARK Results of Operation Detail Revenues And Other Sources Sales of Real Property Unclassified (specify) St Aid-Other Cul And Rec St Aid TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 656,518 SP1001 739,580 53 SP1090 62 29,507 SP2401 33,232 SP2660 110,970 18,488 SP2770 15,562 SP3889 20,000 Page 59 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SP) PARK Results of Operation Detail Expenditures And Other Uses Parks, Pets Serv Parks, Equip & Cap Outlay Parks, Contr Expend Parks, Empl Bnf~s 274,599 SP71101 258,958 73,100 SP71102 102,911 272,574 SP71104 266,423 13,527 SP71108 13,116 Transfers, Capital Projects Fund 30,000 SP99509 130,025 Page 60 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SP) PARK Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 124,518 SP8021 165,284 124,518 SP8022 165,284 704,566 919,406 663,800 771,433 165,284 SP8029 313,257 Page 61 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SR) REFUSE AND GARBAGE Balance Sheet Assets Cash Cash In Time Deposits Petty Cash Accounts Receivable State & Federal Receivables Due From Other Funds Prepaid Expenses 320,374 SR200 1,194 10,416 SR201 471,046 230 SR210 250 132,117 SR380 100,229 SR410 88,743 1,946,735 SR391 2,212,970 23,567 SR480 16,691 Page 62 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SR) REFUSE AND GARBAGE Balance Sheet Liabilities And Fund Equity Accounts Payable Deferred Revenues 183,147 SR600 262,919 1,821,294 SR691 2,010,834 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated SR910 36,000 428,998 SR911 580,470 Page 63 OSC Municipality Code 470379000000 (SR) REFUSE AND GARBAGE Results of Operation "'ll"lr~ Detail Revenues And Other Sources Real Property Taxes Interest & Penalties On Real Prop Taxes Refuse & Garbage Charges Misc Revenue, Other Govts Interest And Earnings Permits, Other Sales of Scrap & Excess Materials Insurance Recoveries Refunds of Prior Year's Expenditures Unclassified (specify) St Aid, Other Aid (specify) illllrrl//~ TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 1,193,550 SR1001 1,821,294 232 SR1090 318 1,607,211 SR2130 1,710,565 41,300 SR2389 1,614 17,791 SR2401 11,109 134,165 SR2590 137,620 25,322 SR2650 35,802 160 SR2680 400 100 SR2701 25 SR2770 285 SR3089 88,743 Page 64 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SR) REFUSE AND GARBAGE Results of Operation Detail Expenditures And Other Uses Refuse & Garbage, Pers Serv Refuse & Garbage, Equip & Cap Outlay Refuse & Garbage, Contr Expend 908,574 SR81601 777,621 115,673 SR81602 75,108 1,565,451 SR81604 1,760,982 State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Disability Insurance, Empl Bnfts 7,419 SR90108 50,593 69,507 SR90308 59,488 16,006 SR90408 38,181 15,445 SR90558 14,046 Debt Principal, Bond Anticipation Notes 527,500 SR97306 483,500 Debt Interest, Bond Anticipation Notes 88,216 SR97307 108,603 Transfers, Other Funds 172,639 SR99019 251,870 Page 65 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SR) REFUSE AND GARBAGE Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 895,287 SR8021 428,999 895,287 SR8022 428,999 3,020,141 3,807,464 3,486,430 3,619,993 428,999 SR8029 6t6,470 Page 66 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (ss) SEWER Balance Sheet Assets Cash In Time Deposits Special Assessment Receivable Due From Other Funds 72,030 $S201 79,088 SS370 165,037 SS391 140,366 Page 67 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (ss) SEWER Balance Sheet Liabilities And Fund Equity Accounts Payable Deferred Revenues 12,377 SS600 26,161 154,864 SS691 132,702 Unreserved Fund Balance Appropriated Unreserved Fund Balance Unappropriated 2,300 SS910 24,300 67,526 SS911 36,291 Page 68 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SS) SEWER Results of Operation Detail Revenues And Other Sources Real Property Taxes Special Assessments Other Payments In Lieu of Taxes Interest & Penalties On Spec Assessments Sewer Charges Interest And Earnings 121,000 SS1001 154,864 2,260 SS1030 2,260 24 SS1081 27 0 SS1091 0 99,223 SS2122 103,394 2,820 SS2401 1,782 Page 69 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SS) SEWER Results of Operation I Detail Expenditures And Other Uses Sewage Treat Disp, Pers Serv Sewage Treat Disp, Contr Expend 54,787 SS81301 44,850 194,025 SS81304 199,563 State Retirement, Empl Bnfts Social Security, Empl Bnlts Worker's Compensation, Empl Bnfts Disability Insurance, Empl Dh[tS 927 SS90108 2,270 4,191 SS90308 3,431 3,697 SS90408 2,934 1,193 SS90558 922 Debt Principal, Serial Bonds 2,000 SS97106 2,000 Debt Interest, Serial Bonds 1,050 SS97107 950 Transfers, Other Funds 13,383 SS99019 14,644 Page 70 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SS) SEWER Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity-Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity-End of Year 119,751 SS8021 69,825 119,751 SS8022 69,825 225,326 262,328 275,252 271,563 69,825 SS8029 60,591 Page 71 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (ss) SEWER Budget Summary Estimated - Interfund Transfer Appropriated Reserve Obligations Authorized Estimated Proceeds of Obligations Appropriated Fund Balance SS1049B SS1099B SS1299B SS2399B SS2499B SS2699B SS2799B SS2801B SS3099B SS4099B SS5031B SS511B SS530B SS5799B SS599B 154,864 107,700 2,000 2,300 154,864 107,700 2,000 15,425 0 0 0 0 13,I25 132,702 107,700 1,000 24,300 Page 72 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (SS) SEWER Budget Summary Appropriations And Other Uses App - General Government Support App - Home And Community Services App-Employee Benefits App - Debt Service Budgetary Provision For Other Uses App - Interfund Transfer SS1999B 0 SS8999B 232,650 251,975 -19,325 234,350 SS9199B 16,564 10,364 6,200 14,900 SS9899B 2,950 2,950 0 2,850 14,700 14,700 SS962B SS9999B 0 0 13,602 Page 73 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (TA) AGENCY Balance Sheet Assets Cash Time Deposits Due From Other Funds Other Assets 609,144 TA200 953,207 416,490 TA201 302,183 5,591 TA391 71,020 48,799 TA489 55,160 Page 74 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (TA) AGENCY Balanoe Sheet Liabilities And Fund Equity Due To Other Funds 271,079 TA630 654,719 Consolidated Payroll TA10 3,014 State Retirement 6,989 TA18 Group Insurance 2,313 TA20 211 Nys Income Tax 21,347 TA21 Federal Income Tax 68,466 TA22 Income Executions 146 TA23 249 Assoc & Union Dues 4,138 TA24 8,078 Social Security Tax 75,191 TA26 -5,910 Guaranty & Bid Deposits 487,384 TA30 588,801 8ail Deposits 142,972 TA35 132,409 Page 75 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (W) NON-CURRENT GOV LIABILITY Balance Sheet Assets Total Non-Current Govt Liabilities ~- ,~ ~, Il' 11,569,432 W129 13,243,462 Page 76 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2003 (W) NON-CURRENT GOV LIABILITY Balance Sheet Liabilities And Fund Equity Judgments And Claims Payable 1,000,000 W686 1,000,000 Compensated Absences 2,954,432 W687 5,293,462 Bonds Payable 7,615,000 W628 6,950,000 Page 77 OSC Municipality Code 470379000000 TOWN OF Southold Financial Comments For the Fiscal Year Ending 2003 Page 78 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2001000003 iMonth and Year of Issue !P~r~ose of Issue ;Current Interest Rate Outstanding Beginning of Year Issued During the Fiscal Year (do not include renewals here) ,F'ald During the Fiscal Year (do not inclucJe renewals here) --DPCODE ~P18761 ~P18763 2P18765 Outstanding End of the Fiscal Year 2P18767 Final Maturity Date Bond Anticipation Note No. 2003000003 Month and Year of Issue EDPCODE Amounl 9/14/2001 Rich Park Phase III .0135 224,000 9/13/20061 Amount 9/121200: Purpo~f~ssue Strawberry Fields ~Current Interest Rate .0135 IOutstanding Beginning of Year 2P18761 Issued During the Fiscal Year (do not include renewals here) 2P18763 200,00( (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year 2P18767 200,00£ iFinal Maturity Date 9/12/200[ iBond Anticipation Note No 2003000008 EDPCODE Amoun' IMonth and Year of Issue 412512003 Purpose of Issue Current interest Rate :Outstanding Beginning of Year Compost Lanc .020~ ;~P18761 ,~_sue_d?uring. the Fiscal Year (do not include renewals here) ZP18763 750,00C Paid During !he Fiscal Year (do not include renewals here) ZP18765 ~)utstanding End of the Fiscal Year -~P18767 750,006 Final Maturity Date 4/27/2001 IBond Anticipation Note No. 2002000002 EDPCODE !Month and Year of Issue Purpose of Issue iCu_rr~e, nt Interest Rate .~P18761 IOutstanding Beginning of Year iissued During the Fiscal Year (do not include renewals here) '13aid During the Fiscal Year (do not include renewals here) iO~t~-a~'<~-'~:~d of the Fiscal Year 8/30/2001 )ickett landfi~ 991,7091 ~P18763 ~P18765 196,843 Final Maturity Date ~P18767 794,866 8~3O~2OO4 Page 79 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit 3ond Anticipation Note No. 2001000002 =DPCODE ,~ounl Vlonth and Year of Issue 5/11/2001 5-urpose of Issue own's Farm Preserve 3urrent Interest Rate .01 Dutstanding Beginning of Year -~P18761 126,00£ ssued During the Fiscal Year (do not include renewals here) -~P 18763 :aid During the Fiscal Year (do not include renewals here) _)P 18765 42,00£ Dutstanding End of the Fiscal Year _)P18767 84,006 =inal Maturity Date 5/10/200~ 3ond Anticipation Note No. 2001000007 =DPCODE Amounl Vlonth and Year of Issue 4/27/2001 ~urpose of Issue ng Land Developmenl .3urrent Interest Rate .0208 ~u~st~a_ndi~ng Beginning of Year -~P18761 2,500,00¢ ssued During the Fiscal Year · (do not include renewals here) -~P18763 ~aid During the Fiscal Year _ (do not include renewals here) -~P18765 100,000 Dutstanding End of the Fiscal Year -~P18767 2,400,000 =inal Maturity Date 4/27/2006 3ond Anticipation Note No. 2003000004 --DPCODE Amounl Vlonth and Year of Issue 9/12/2003 SuPpose of Issue Highway Equipmenl 3urrent Interest Rate .013~ D~_s_t_anding Beginning of Year _)P18761 ssued During the Fiscal Year (do not include renewals here) ;~P18763 400,006 ~aid During the Fiscal Year (do not include renewals here) _~P18765 ?u.ts_tanding End of the Fiscal Year -~P18767 400,000 =inal Maturity Date 9/12/2008 3ond Anticipation Note No. 2002000001 =DPCODE Amounl Vlonth and Year of Issue 9/13/2002 ~urpose of Issue 3rushes Creek Bridge ~urrent Interest Rate .0135 ~u't~-anding Beginning of Year ZP18761 425,000 ssu?__d D~uuring the Fiscal Year _ !do not include renewals here) ;'P18763 0 ~aid During the Fiscal Year (do not include renewals here) -~P18765 15,00¢ Dutstanding End of the Fiscal Year _~P18767 410,000 --inal Maturity Date 9/12/2007 Page 80 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit 3_ond Anticipation Note No. 2001000004 EDPCODE Amoun Month and Year of Issue 9/1412001 Purpo~ (~f Issue Watermain Extensior Current Interest Rate .01 ~utstanding Beginning of Year 2P18761 257,00( Issued During the Fiscal Year (do not include renewals here) 2P18763 ~id During the Fiscal Year (do not include renewals here) 2P18765 66,000 5~Jtstanding End of the Fiscal Year 2P18767 191,000 _Fir~_al Maturity Date 9/13/20061 I Bond Anticipation Note No. 2003000005 EDPCODE Amoun Month and Year of Issue 9/12/200: Purpose of Issue Management Systerr Current Interest Rate .013.~ Outstanding Beginning of Year 2P18761 Issued During the Fiscal Year (do not include renewals here) 2P18763 65,00( Paid During the Fiscal Year (do not include renewals here) 2P18765 O_utstandin.g End of the Fiscal Year 2P18767 65,00( Final Maturity Date 9/12/200~ Bond Anticipation Note No. 2001000005 EDPCODE Amoun Month and Year of Issue 9/14/200! Purpose of Issue Police Patrol Vesse Current Interest Rate .013.~ -o?tstanding Beginning of Year 2P18761 68,00( Issued During the Fiscal Year (do not include renewals here) 2P18763 ~'aid During the Fiscal Year (do not include renewals here) 2P18765 18,000! _Outstanding End of the Fiscal Year 2P18767 50,000 Final Maturity Date 9/13/2006 Bond Anticipation Note No. 2003000006 EDPCODE Amount ~4onth and Year of Issue 9/12/2003 ~-L~rpose of Issue HRC Improvements Current Interest Rate .0135 ~utstanding Beginning of Year 2P18761 Issued During the Fiscal Year _ (do not include renewals here) 2P18763 200,000 Paid During the Fiscal Year (do not include renewals here) 2P18765 O~utstanding End of the Fiscal Year 2P18767 200,000 Final Maturity Date 9/12/2008 Page 81 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2001000006 EDPCODE Amoun~ ~Month and Year of Issue _9/~ iPurpose of Issue __ New London T~ ~rrent Interest Rate .0122I ~utstanding Beginning of Year 2P18761 550,000I [Issued During the Fiscal Year ' (do not include renewals here) :~P18763 Paid During the Fiscal Year (do not include renewals here) 2P18765 25,0£ ~Outstanding End of the Fiscal Year ;~P18767 525 !Final Maturity Date 3ond Anticipation Note No. 2001000001 Month and Year of Issue 5urpose of Issue 3urrent Interest Rate Dutstanding Beginning of Year Issued During the Fiscal Year ~DPCODE 2P18761 Amounl 5/11/2001 ceiver Computer Proc .019~ 184,00(: (do not include renewals here) -~P18763 )aid During the Fiscal Year (do not include renewals here) -~P18765 54,00C _~P18767 iOutstanding End of the Fiscal Year ;Final Maturity Date Bond Anticipation Note No. 2003000002 Vlonth and Year of Issue :urpose of Issue EDPCODE 130,00C 5/1012006 Amounl 9/12/2003 9rushes Creek Bridge :,urrent Interest Rate .0135 Dutsianding Beginning of Year -~P18761 ssued During the Fiscal Year (do not include renewals here) -~P18763 225,00(: :aid During the Fiscal Year _~P18765 _~P18767 ~ 9/12/2007~ =_DPCODE Amounl 9/12/200; klew London Terminal .0122 _~P18761 ~.P18763 _= (d~ not include renewals here) 3utstanding End of the Fiscal Year Final Maturity Date Bond Anticipation Note No. 2003000001 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) ~utstanding End of the Fiscal Year !Final Maturity Date 2,475,000 ~P18765 ~P18767 2,475,000 9/12/2006 Page 82 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2001000008 EDPCODE Amoun Month and Year of issue 10/4/2001 ~urpose of Issue Landfill Closur( Current Interest Rate .011.( Outstanding Beginning of Year 2P18761 4,990,00( Issued During the Fiscal Year (do not include renewals here) 2P18763 ~aid During the Fiscal Year (do not include renewals here) 2P18765 310,00( ~utstanding End of the Fiscal Year 2P18767 4,680,00( Fi~al Maturity Date 10/4/2006 Bond Anticipation Note No. 2003000009 EDPCODE Amount Month and Year of Issue 4/25/2003 Purpose of Issue Grffing St. Parking Lot Current Interest Rate .0208 O_utstanding Beginning of Year 2P18761 Issued During the Fiscal Year _(_do not include renewals here) 2P18763 230,000 Paid During the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year 2P18767 230,000 ?inal Maturity Date 4/25/2008 Bond Anticipation Note No. 2003000010 EDPCODE Amount ~lonth and Year of Issue 8/30/2001 Purpose of Issue ickett Landfill Closure Current Interest Rate .0000 _Outstanding Beginning of Year _~P18761 Issued During the Fiscal Year (do not include renewals here) .~P18763 352,436 ~-aid During the Fiscal Year (do not include renewals here) _)P18765 ~3utstanding End of the Fiscal Year )_P18767 352,436 ~Final Maturity Date 8/30/2004 ~o~A~{icipation Note No. 2000000019 --DPCODE Amoun~ M~- and Year of Issue 5/14/1999 purpose of !s~su=ee Steet Sweeper I~urr~n~ I~qterest Rate ..... .0198 ~utstandin~ Beginning of Year .~P18761 50,000 ~sued During the [iscal Year i (do not include renewals here) ZP18763 0 ~'-~id During the Fiscal Year ' (do not include renewals here) ~-P18765 25,000 Outstanding End of the Fiscal Year .~P18767 25,000 Final Maturity Date 5/12/2000 Page 83 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2000000020 -_-DPCODE Amounl Month and Year of Issue 5/14/199~c Purpose of Issue e Trailer/Dump Truck Current Interest Rate .01 Outstanding Beginning of Year -~P18761 65,00£ Issued During the Fiscal Year (do not include renewals here) -~P18763 paid During the Fiscal Year ~ (do not include renewals here) ZP18765 35,00(: u!~t~nding End of the Fiscal Year -)P18767 30,00(: nal Maturity Date 5/12/200(; Bond Anticipation Note No. 2000000021 --DPCODE Amounl Month and Year of Issue 5/14/199~c ~ur~gse of Issue Payloadel Current Interest Rate .0198 Outstanding Beginning of Year ~_P18761 25,006 Issued During the Fiscal Year (do not include renewals here) _~P18763 Paid During the Fiscal Year (do not include renewals here) -~P18765 20,006 utstanding End of the Fiscal Year :~P18767 5,00¢ nal Maturity Date 5/12/2006 IBo~d Anii~ip~ti0n N~te No. 2000000022 EDPCODE; Amounl ~)nth and Year of Issue 5/12/2000 iPurpose of Issue Rich Park Phase 2 !Current Interest Rate .0198 i~_utstanding Beginning of Year -~P18761 165,00£ !Issued During the Fiscal Year ~- (do 0ot include renewals here) ZP18763 IPai~ b~ii'ng the Fiscal Year (do not include renewals here) -~P18765 55,00C Dutstanding End of the Fiscal Year ;'P18767 110,00C =inal Maturity Date 5/12/2001 [ BondAnti(~il~iion ~i~ '~. 2000000023 --DPCODE Amounl onth and Year of Issue 5/12/2000 iPurpose of Issue Salt Storage Building Current Interest Rate .0198 '(~ut.standing Beginning of Year _~P18761 54,000 I~s.ued During the Fiscal Year (do not include renewals here) ~-P18763 Paid During the Fiscal Year _. (d~o not include renewals here) ~_P18765 18,000 ,~O~utstandin.g End of the Fiscal Year ~-P18767 36,000 ~Final Maturity Date 5/1/2001 Page 84 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit I~ond Anticipation Note No. 2000000026 EDPCODE Amoun I~0nth and Year of Issue 9/17/199c. 'Purpose of Issue Police ComputerE ~urrent Interest Rate .037z Outstanding Beginning of Year 2P18761 30,00( ~s~ued During the Fiscal Year , ido not include renewals here) 2P18763 Paid During the Fiscal Year I (do not include renewals here) 2P18765 Ouistanding End of the Fiscal Year 2P18767 F n~i Matur ty Date 9/15/200( Bond Anticipation Note No. 2000000027 EDPC~DE Amour- Month and Year of Issue 9/17/199~. ~rpose of Issue Park Land Acquisitior iCurrent Interest Rate .013.~ ~iutstanding Beginning of Year 2P18761 33,50( [Issued During the Fiscal Year ~ (do not include renewals here) 2P18763 [Paid During the Fiscal Year [ (do not include renewals here) 2P18765 33,50( [Outstanding End of the Fiscal Year 2P18767 IFinalMaturity Date 9/15/200( LBgnd Anticipation Note No. 2000000028 EDPCODE Amoun IMonth and Year of Issue 9/15/200( !~rpose of Issue Computer Upgrade iCurrent Interest Rate .013.~ ~Outstandlng Beginning of Year 2P18761 167,00( !Issued During the Fiscal Year i (do not include renewals here) 2P18763 I~aid During the Fiscal Year I (do not include renewals here) 2P18765 57,00( ~Outstanding End of the Fiscal Year 2P18767 110,00( IF:i~l Maturity Date 9/15/2001 iBond Anticipation Note No. 2000000029 EDPCODE Amoun Month and Year of Issue 9/15/200( ~urpose of Issue Payloade Current Interest Rate .013.' O~utstanding Beginning of Year 2P18761 115,50( Issued During the Fiscal Year (do not include renewals here) 2P18763 ~aid During the Fiscal Year (do not include renewals here) 2P18765 38,50( Outstanding End of the Fiscal Year 2P18767 77,00( F~nal Maturity Date 9/15/200' I Page 85 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit B?nd Anticipation Note No. 2003000007 EDPCODE Amoun Vlonth and Year of Issue 11/18/200,~ :urpose of Issue Southold Park Distric 'Current interest Rate ' .011( Outstanding Beginning of Year 2P18761 ilssued During the Fiscal Year ~(do not include renewals here) 2P18763 45,00( I~id DU'rin9 the Fiscal Year ~ (d~ not include renewals here) 2P18765 ~utstanding End of the Fiscal Year 2P18767 45,00( ~'?nn al Maturity Date 11/18/200~ ~0tal Bond Anticipation Note Amoun I~t~'ianding Beginning of Year 11,020,70(. I~sued During F!sc~/Year___ 4,942,43( P?aid During Fiscal Year 1,164,84.~ Outstanding End of Year 14,768,302 ;;" B~nd Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year 2P18885 11,07~ Page 86 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit !Bond No. 2000000002 EDPCODE Amoun' Month and Year of Issue 2/15/1991 Purpose of Issue Variou." Current Interest Rate 6.375( ~utstanding Beginning of Year :~P18771 850,00( Issued During the Fiscal Year (do not include renewals here) :~P18773 Paid During the Fiscal Year I (do not ~nclude renewals here) :~P18775 75,00( ~utstanding End of the Fiscal Year :~P18777 775,00( __~ ~.4~-t u r it¥ i~ at e 2/15/2011 / IBond No. 2~00000001 EDPCODE Amoun [Month and Year of Issue 10/1/198,~ ~.~£po~ o_f I~i~e' Variou.. Current Interest Rate 9.100( ~tstanding Be.ginning of Year 2P18771 390,00( Issued During the Fiscal Year (do not include renewals here) 2P18773 Paid During the Fiscal Year (do not include renewals here) 2P18775 130,00( Outstanding End of the Fiscal Year 2P18777 260,00( tFLX. al Maturity Date 4/1/200~ I i.B_~nd No. 2000000014 EDPCODE Amoun Month and Year of Issue 2/15/199( ~'~'rpose of Issue FI Landfill Closur~ Current Interest Rate 3.900( ~__u_tstanding Be.ginning of Year 2P18771 195,00( Issued During the Fiscal Year L (do not include renewals here) 2P18773 iPaid During the Fiscal Year _ (do not include renewals here) 2P18775 15,00( iOutstanding End of the Fiscal Year 2P18777 180,00( inal Maturity Date 12/15/201z B~ond No: 2000000007 EDPCODE Amoun M~_onth and Year of Issue 5/1/199(. Purpose of !s.~u.e n Space Preservatior ICurrent-inter~st Ra~ 4.700( ,~utstanding Beginning of Year 2P18771 1,660,00( Ilssued During the Fiscal Year _ (do not include renewals here) 2P18773 i~P~i~ During the Fiscal Year ,_ (do not include renewals here) 2P18775 80,00( iOutstanding End of the Fiscal Year 2P18777 1,580,00( i?iinal Maturity Date 5/1/201.~ Page 87 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit Bond 2000000006 ---DPCODE Amoun' No. IMonth and Year of Issue 5/1/1998 ~-urpose of Issue ral Land Preservatior Current Interest Rate 4.850C Outstanding Beginning of Year -~P18771 1,680,00C I_s_sued During the Fiscal Year _ (do not include renewals here) ~-P18773 C iPaid During the Fiscal Year ! (do not include renewals here) -~P18775 90,00£ Dutstanding End of the Fiscal Year -~P18777 1,590,006 :inal Maturity Date 5/18/2018 ~ond No~0000000~ = E-DPCODE Amounl Month and Year of Issue 11/1/1995 ,~uurpose of Issue ral Land Preservation 2. urrent Interest Rate 5.1000 )utstanding Beginning of Year -~P18771 1,280,000 _s__sued During the Fiscal Year _ (do not include renewals here) -~P18773 0 Paid~uring the Fiscal Year (do not include renewals here) .~P18775 80,000 ~utstanding End of the Fiscal Year _~P18777 1,200,000 ~Final Maturity Date 11/1/2015 Bond No. 2000000004 --DPCODE Amount Month and Year of Issue 10/1/1993 Pur_p~_se~ of Issue Pension System Current Interest Rate 6.1250 .Out.standing Beginning of Year 2P18771 210,000 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the..~!~cal Year (do not include renewals here) 2P18775 70,000 ~)utstandin .g End of the Fiscal Year 2P18777 140,000 Final Maturity Date 10/1/2005 Page 88 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2003 Indebtedness Not Exempt From Constitutional Debt Limit iBo N~ 2000000003 -_-DPCODE Amounl ~n?~ and Year of Issue 4/15/1992 purpose of Issue Various Cu~Current Interest Rate 5.000( Dutstanding Beginning of Year ~_P18771 1,350,00( ssued During the Fiscal Year (do not include renewals here) ;'P18773 ¢ ~aid During th~-'~ Fiscal Year ' ((:J~de renewals'~ere) _~P18775 125,000 utstandingEnd of the Fiscal Year .~P18777 1,225,000 inal M~turity Date 2/15/2012 r Total Bond -- A~ounl ~SsOUtstanding Beginning of Year 7,615,000 ued During Fiscal Year 0 IPaid During Fiscal Year I 665,000 Ouistanding End of Year I 6,950,000 ol Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond iOutstanding Beginning of Year IIssued During Fiscal Year !Paid During Fiscal Year !Outstanding End of Year Amoun~ 18,635,70~ ~ ,829,843I 21,718,302[ Page 89 OSC Municipality Code 470379000000 TOWN OF Southold Maturity Schedule For the Fiscal Year Ending 2003 Page 90 TOWN OF Southold Schedule of Securities for Collateralization For the Fiscal Year Ending 2003 General Municipal Law, Section 10 as amended by chapter 708 Laws of 1992 lists the types of securities which may be pledged for collateralization. Please click in the res )onse box next to the type(s) of securities used by banks as colla[eral for your deposits. Yes 1. Yes 4 Obligations issued by the United States of America, an agency thereof or a United States sponsored corporation or obligations fully insured or guaranteed as to the payment of principal and interest by the United States of America, an agency thereof or a United States government sponsored corporation. Obligations issued or fully guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank and the African Development Obligations partially insured or fully guaranteed by any agency of the United States of America, at a proportion of the market value of the obligation that represents the amount of the insurance or Obligations issued or fully insured or guaranteed by this state, obligations by a municipal corporation, school district or district corporation of this state or obligations of any public benefit corporation which under a specific state statute may be accepted as security for deposit of public moneys. Obligations issued by states (other than this state) of the United States rated in one of the three highest rating categories by at least one nationally recognized statistical rating organization. Obligations of Puerto Rico rated in one of three highest rating categories by at least one nationally recognized statistical rating organization. 9. Obligations of counties, cities, and other governmental entities of another state having the power to levy taxes that are backed by the full faith and credit of such governmental entity and rated in one of the three highest rating categories by at least one nationally recognized statistical rating organization. Obligations of domestic corporations rated in one of the two highest rating categories by at least one nationally recognized statistical rating organization. Any mortgage related securities, as defined in the Securities Exchange Act of 1934, as amended, which may be purchased by banks under the limitations established by federal bank regulatory agencies. Commercial paper and bankers' acceptances issued by a bank (other than the bank with which the money is being deposited or invested) rated in the highest short-term category by at least one nationally recognized statistical rating organization and having maturities of not longer than sixty days from the date they are pledged. 11. Zero-coupon obligations of the United States government marketed as "Treasury Strips". 12. Letters of Credit. 13. Surety bonds. Page 91 OSC Municipality Code 470379000000 TOWN OF Southold Schedule of Time Deposits and Investments For the Fiscal Year Ending 2003 CASH: On Hand Demand Deposits Time Deposits Total COLLATERAL: - FDIC Insurance Collateralized with securities held in possession of municipality or its agent Total EDP Code 9Z2001 9Z2011 9Z2021 9Z2014 9Z2014A Amount $2,151.00 $15,118,542.00 $20,314,135.00 $35,434,828.00 $1,100,000.00 $41,258,779.00 $42,358,779.00 INVESTMENTS: - Securities (450) Book Value (cost) Market Value at Balance Sheet Date Collateralized with securities held in possession of municipality or its agent 9Z4501 9Z4502 9Z4504A - Repurchase Agreements (451) Book Value (cost) Market Value at Balance Sheet Date Collateralized with securities held in possession of municipality or its agent 9Z4511 9Z4512 9Z4514A Page 92 OSC Municipality Code 470379000000 TOWN OF Southold Investment Certification For the Fiscal Year Ending 2003 DEFINITIONS: Repurchase Agreement - A generic term for an agreement in which a government entity (buyer-lender) transfers cash to a broker-dealer er financial institution (seller-borrower); the broker-dealer or financial institution transfers securities to the entity and promises to repay the cash plus; interest in exchange for the same securities or for different securities. Reverse Repurchase Agreement - An agreement in which a broker-dealer or financial institution (buyer-lender) transfers cash to a government entity (seller-borrower); the entity transfers securities to the broker-dealer of financial institution and promises re repay the cash plus interest in exchange for the same securities or different securities. RESPONSE 1 ) Has your' Local Government adopted an investment policy as Yes required by General Municipal Law, Section 39? 2) The following investments are permitted by your investment policy. * Obligations of the UNITED STATES Yes * Obligations of the U.S. Government Agencies, guaranteed by Yes the UNITED STATES Government * Obligations of the STATE of NEW YORK Yes * Obligations of other NEW YORK STATE Local Governments Yes * Other Yes 3) Do you engage in reverse repurchase agreements? No 4) Are Repurchase Agreements authorized by your investment Yes poticy? Name: John Cushman Title: Town Comptroller Phone Number: (631) 765-4333 Page 93 SC Municipality Code 470379000000 TOWN OF Southold Bank Reconciliation For the Fiscal Year Ending 2003 include All Checking, Savings and C.D. Accounts Bank Account Number Bank Balance Add: Less: Adjusted Deposit Outstanding Bank In Transit Checks Balance Page 94 TOWN OF Southold Local Government Questionnaire For the Fiscal Year Ending 2003 1 ) Does your municipality have a written procurement policy? 2) Have the financial statements for your municipality been independently audited? If not, are you planning on having an audit conducted? 3) Does your local government participate in an insurance pool with other local governments? 4) Does your local government participate in an investment pool with other local governments? 5) Does your municipality have a Length of Service Award Program (LOSAP) for voldnteer firefighters? 6) Does your municipality have a Capital Plan? 7) Has your municipality prepared and documented a risk assessment plan? If yes, has '/our municipality used the results to design the system of internal controls? 8) Have you had a change in chief executive or chief fiscal officer during the Past year? 9) Does your municipality have access to the intemet? Does your municipality have an official E-mail address? If yes, what is it? Does the chief fiscal officer have a separate E-mail address? If yes, what is it? Do you have a web site? If yes, what is the official address of the web site for your municipality? Response Yes Yes Yes Yes No Yes No No Yes No Yes josh.horton~town.southold.ny.us Yes southoldtown.northfork.net Page 95 OSC Municipality Code 4'~0379000000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Joshua Y. Horto_n ......... , hereby certify that I am the Chief Fiscal Officer of the Town of Southold , and that the information provided in the annual financial report of the Town of Southold , for the fiscal year ended 12/31/2003 , is TRUE and correct to the best of my knowledge and belief. By entering the personal indentification number assigned by the Office of the State Comptroller to me as the Chief Fiscal Officer of the Town of Southold , and adopted by me as my signature for use in conjunction with the filing of the Town of Southold's annual financial report, I am evidencing my express intent to authenticate my certification of the Town of Southold's annual financial report for the fiscal year ended 12/31/2003 and filed by means of electronic data transmission. John Cushman Name of Report Preparer if different than Chief Fiscal Officer Joshua Y. Horton Name Supervisor Title PO Box 1179, Southold, NY 11971 Official Address (631) 765-1889 Official Telephone Number (6~1) 765-4333 Telephone Number O4~28~2004 Date of Certification Page 96 Municipality Code 470379000000 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 A. Summary of SiRnificant Accountin.cl Policies The financial statements of the Town of Southold have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies are described below. 1. Financial Reporting Entity The Town of Southold, which was established in 1640, is governed by its Charter, the Local Municipal Law and other general laws of the State of New York and various local laws. The Town Board is the legislative body responsible for overall operations, the Supervisor serves as Chief Executive Officer and as Chief Fiscal Officer. Basic services provided include public safety, health, transportation, economic assistance and opportunity, culture and recreation, and home and community services. All governmental activities and functions performed for the Town are its direct responsibility. No other governmental organizations have been included or excluded from the reporting entity. The financial reporting entity consists of (a) the primary government which is the Town of Southold, (b) organizations for which the primary government is financially accountable and (c) other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete as set forth in GASB Statement 14. The decision to include a potential component unit in the Town's reporting entity is based on several criteria set forth in GASB 14 including legal standing, fiscal dependency, and financial accountability. Based on the application of these criteria, the following is a brief review of certain entities considered in determining the Town of Southold's reporting entity. Certain special districts of the Town of Southold provide sanitation, ferry, and park services to residents and businesses within the districts. These special districts are organized under New York State Town law and have separately elected boards. Long- term debt backed by the full faith and credit of the Town and other financial matters result in a fiscal interdependency with the Town. Accordingly, these special districts have been determined to be component units of the Town of Southold and are presented discretely in a separate column in the combined financial statements to emphasize that they are legally separate from the primary government. These districts include the following: TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 A. Summary of Si.qnificant Accountin,q Policies (continued) 1. Financial Reporfinq Entity (continued) The Fishers Island Ferry District, established in 1947 Orient Mosquito District, established in 1916 Fishers Island Garbage and Refuse District, established in 1952 Cutchogue-New Suffolk Park District, established in 1953 Orient-East Marion Park District, established in 1969 Southold Park District, established in 1907 Mattituck Park District, established in 1941 Complete financial statements of these component units can be obtained from their respective administrative offices: Orient Mosquito District Main Road ©dent, NY 11957 Cutchogue-New Suffolk Park District P.O. Box 311 Cutchogue, NY 11935 Fishers Island Garbage & Refuse District Fishers Island, NY 06390 Orient-East Marion Park District Route 25 Orient, NY 11957 Southold Park District P.O. Box 959 Southold, NY 11971 Mattituck Park District P.O. Box 1413 Mattituck, NY 11952 Fishers Island Ferry District Main Street Southold, NY 11971 2. Fund Accountin.cl The Town of Southold uses funds and account groups to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group, however, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available financial resources. The Town records its transactions in the fund types and account groups described below: TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 A. Summary of Si.qnificant Accounting Policies (continued) 2. Fund Accountinq (continued) Fund Cate.qories Governmental Funds - Governmental funds are those through which most governmental functions are financed. The acquisition, use and balance of expendable financial resources and the related liabilities are accounted for through governmental funds. The measurement focus of the governmental funds is upon determination of financial position and changes in financial position. The following are the Town's governmental fund types. General Fund - the principal operating fund which includes all operations not required to be recorded in other funds. Special Revenue Funds - used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specific purposes. The following Special Revenue Funds are utilized: Hiqhway Funds - To maintain and operate highways. General Fund Part Town - To provide general services outside the Village of Greenport. Special Grant Fund - Segregate and account for projects funded by Community Development revenue. Special District Funds - To provide special services to areas that encompass less than the whole town. Capital Proiects Fund - used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by special assessment funds and trust funds). Fiduciary Funds - used to account for assets held by the local government in a trustee or custodial capacity: Trust and ARency Funds - used to account for money received and held in the capacity of trustee, custodian or agent. These include expendable trusts, non- expendable trusts, and agency funds. AccountGroups Account Groups are used to establish accounting control and accountability for general fixed assets and general long-term debt. The two account groups are not "funds". They are concerned with measurement of financial position and not results of operations. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 A. Summary of Si.qnificant Accounting Policies (continued) Account Groups (continued) The General Fixed Assets Account Group - used to account for land, buildings, improvements other than buildings, and equipment utilized for general government purposes, except those accounted for in proprietary funds. The General Lonq-Term Debt Account Group - used to account for all long-term debt except that accounted for in proprietary and special assessment funds. 3. Basis of Accountin,q/Measurement Focus Basis of accounting refers to when revenues and expenditures and the related assets and liabilities are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus, Measurement focus is the determination of what is measured, i.e. expenditures or expenses. Modified Accrual Basis - All governmental Funds and Expendable Trust Funds are accounted for using the modified accrual basis of accounting. Under this basis of accounting, revenues are recorded when measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Material revenues that are accrued include real property taxes, state and federal aid, sales tax and certain user charges. If expenditures are the prime factor for determining eligibility, revenues from federal and state grants are accrued when the expenditure is made. Expenditures are recorded when incurred except that: Expenditures for prepaid expenses and inventory-type items are recognized at the time of purchase. Principal and interest on indebtedness are not recognized as an expenditure until due. Compensated absences, such as vacations and sick leave, which vests or accumulates, are charged as an expenditure when paid Account Groups - General fixed assets are recorded at actual or estimated cost or, in the case of gifts and contributions, at the fair market value at the time received. No provision for depreciation is made. General long-term debt liabilities are recorded at the par value of the principal amount. No liability is recorded for interest payable at maturity. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 A. Summary of Significant Accounting Policies (continued) 4. Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded for budgetary control purposes to reserve that portion of the applicable appropriations is employed in all funds. Encumbrances are reported as reservations of fund balances since they do not constitute expenditures or liabilities. Expenditures for such commitments are recorded in the period in which the liability is incurred. 5. Assets, Liabilities and Fund Equity Receivables Receivables include amounts due from Federal, State, and other governments and individuals for services provided by the Town. Receivables revenues are recorded as earned or as specific program expenditures are incurred. Inventory - Materials and Supplies Inventory in the General Fund is valued at cost, using weighted average cost method. inventory in these funds is accounted for under the consumption method. Property, Plant and Equipment - General Fixed assets purchased for general governmental purposes are recorded as expenditures in the governmental funds and are capitalized at cost (or estimated historical cost for assets purchased prior to 1976) in the General Fixed Assets Account Group. Contributed fixed assets are recorded at fair market value at the date received. Fixed assets consisting of certain infrastructure type improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage and lighting systems, have not been capitalized. Such assets normally are immovable and of value only to the Town. Therefore, the purposes of stewardship for capital expenditures can be satisfied without recording these assets. No depreciation has been provided on general fixed assets, nor has interest on general fixed assets construction in progress been capitalized. Deferred Revenue Deferred revenues are those where asset recognition criteria have been met, but which revenue recognition criteria have not been met. Such amounts have been deemed to be "measurable" but not "available" pursuant to GAAP. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 A. Summary of Si.qnificant Accountin.q Policies (continued) 5. Assets~ Liabilities and Fund Equity (continued) Lon.q-Term Obli.qations Long-term debt is recognized as a liability of a governmental fund when due. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the General Long-Term Debt Account Group. Fund Equity - Reservations and Designations Portions of fund equity are segregated for future use and therefore not available for future appropriation or expenditure. Amounts reserved for encumbrances, inventory, insurance claims, represent portions of fund equity which are required to be segregated in accordance with State law or GAAP. Designations of fund balances in governmental funds indicate the utilization of these resources in the subsequent year's budget or tentative plans for future use. 6. Revenue and Expenditures Prope~y Taxes Real property taxes for the ensuing year are levied annually and become a lien on December 1. Taxes are collected during the period December 1 to May 31, with the first half due January 10 and the second half due May 31. Tax payments made during the period December 1 to December 31 are recognized as revenue in the subsequent year. Taxes for county purposes (apportioned to the area of the county inside the Town of Southold) are levied together with taxes for town and special district purposes as a single bill. The towns and special districts receive the full amount of their levies annually out of the first amounts collected on the combined bills. The county assumes enforcement responsibility for all taxes levied in the towns (and for unpaid county taxes in the Town). Unpaid village taxes and school district taxes are turned over to the county for enforcement. Any such taxes remaining unpaid at year-end are relieved as county taxes in the subsequent year. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 A. Summary of Significant Accountin.q Policies (continued) 6. Revenue and Expenditures (continued) Interfund Revenues Interfund revenues are quasi-external transactions in the operating funds that represent amounts charged for services or facilities provided by that operating fund. The amounts paid by the fund receiving the benefit of the service or facilities are reflected as an expenditure of that fund. Operatin.cI Transfers Operating transfers represent payments to the Risk Retention Fund and Capital Projects Fund from other funds for their appropriate share of the risk retention and capital projects. Insurance The Town assumes the liability for most risk including, but not limited to, property damage and personal injury liability. Judgments and claims are recorded when it is probable that an asset has been impaired or a liability has been incurred and the amount of loss can be reasonably estimated. Compensated Absences Vested or accumulated vacation or sick leave of governmental funds that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the respective fund that will pay it. Amounts of vested or accumulated vacation or sick leave of governmental funds that are not expected to be liquidated with expendable available financial resources are reported in the General Long-Term Debt Account Group. No expenditure is reported for these amounts. In accordance with the provisions of Statement No. 16 of the Governmental Accounting Standards Board, Accounting for Compensated Absences, no liability is recorded for non-vesting accumulating rights to receive sick pay benefits. Total Columns on the General Purpose Financial Statements Total columns on the general-purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or changes in financial position in conformity with generally accepted accounting principles, nor is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of the data. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 B. Stewardship, Compliance, Accountability BudRetary Data 1. Budget Basis of Accountin.q Budgets are adopted annually on a basis consistent with generally accepted accounting principles. Appropriations authorized for the current year are increased by the amount of encumbrances carried forward from the prior year. Budgetary controls for special revenue funds are established in accordance with the applicable grant agreement, which may cover a period other than the Town's fiscal year. Appropriate budgetary adjustments have been made to reflect these grant agreements during the Town's fiscal year. 2. Bud.qet Policies - The budget policies are as follows: a. No later than October 1, the Supervisor submits a tentative budget to the Town Board for the fiscal year commencing the following fiscal year. The tentative budget includes the proposed means of financing for all funds. b. After public hearings are conducted to obtain taxpayer comments, no later than November 20, the Town Board adopts the budget. c. The Town Board must approve all modifications of the budget. However, the Supervisor is authorized to transfer certain budgeted amounts within departments. 3. Material Violations of Finance Related Activities There are no material violations of finance-related provisions. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 B. Stewardship, Compliance, Accountability (continued) 4. Fund Balances 1. Certain funds of the Town apply to areas less than the entire Town. equity at December 31,2003 is allocated as follows: The fund General Fund (Town wide) Special Revenue Funds General Fund Part Town Highway Fund -- Town wide Highway Fund -- Part Town Special District Funds East-West Fire Protection Southold Wastewater Disposal Fishers Island Sewer Solid Waste Management Discretely Presented Component Units Fishers Island Refuse & Garbage Fishers Island Ferry Cutchogue-New Suffolk Park Southold Park Orient-East Marion Park Mattituck Park Orient Mosquito Total $ 5,319,412 555,356 249,282 652,8O2 7,532 22,265 38,326 224,355 392,115 604,853 98,343 16,287 (127) 198,754 17,182 $8.396.737 Deficit Fund Balances The capital projects fund and the Orient-East Marion Park District had a deficit fund balance at December 31, 2003. The capital projects fund deficit will be eliminated as short-term debt is redeemed or converted to permanent financing. The Orient-East Marion Park District deficit will be eliminated through ensuing years appropriations. C. Detail Notes on all Funds and Account Groups 1. Assets Cash and Investments Cash consists of funds deposited in demand accounts, time deposit accounts and certificates of deposit with maturities of less than three months. State statutes govern Town investment policies. In addition, the Town has its own written investment policy. Town monies are deposited in FDIC insured commercial banks or trust companies located within the state. The Supervisor is authorized to use demand accounts and certificates of deposits. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 C. Detail Notes on all Funds and Account Groups (continued) 1. Assets (continued) Permissible investments include obligations of the U.S. Treasury and U.S. Agencies, repurchase agreements, obligations of New York State or its localities, and investments made by the Cooperative Liquid Asset Security System (CLASS). CLASS is a cooperative investment plan consisting of U.S. Treasury obligations and repurchase agreements relating to treasury obligations. The written investment policy requires that repurchase agreements be purchased from banks located within the state and that underlying securities must be obligations of the federal government. Underlying securities must have a market value of at least 102 percent of the cost of the repurchase agreement. Collateral is required for demand deposits and certificates of deposit at 102 percent of all deposits not covered by federal deposit insurance. Obligations that may be pledged as collateral are obligations of the United States and its agencies and obligations of the state and its municipalities and school districts. Deposits - All deposits, including certificates of deposits, are carried at cost plus accrued interest. Deposits at year-end were entirely covered by federal depository insurance or by collateral held by the Town's custodial banks in the Town's name. At December 31, 2003 the cash in banks was $35,434,828 and collateral held against cash in banks was $42,358,779 consisting of FDIC insurance and/or securities held in the name of the Town of Southold. Restricted Cash Restricted Cash consists of assessments collected by the Receiver of Taxes not yet remitted to the appropriate governmental entity. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 C. Detail Notes on all Funds and Account Groups (continued) 2. Fixed Assets A summary of changes within the General Fixed Assets Account Group for the Town of Southold for the year ended December 31,2003 is as follows: Primary Government: Land Buildings & Improvements Other Improvements Construction in Progress Infrastructure Machinery & Equipment Total Balance Balance 01/01/2003 Additions Deletions 12/31/2003 $15,816,207 4,298,287 132,389 10,358,939 $30.605.822 $15,076,240 249,890 $195,464 10,453,176 3,066,169 68,977,685 607,378 2,848,198 $98.430.538 ~,043.662 $30,892,447 4,352,713 10,585,565 3,066,169 68,977,685 8,118,119 $125.992,698 Component Units: Land Buildings & Improvements Infrastructure Machinery & Equipment Total Balance 01/01/2003 Additions $1,817,228 396,527 4,579,657 2,698,998 2,121,386 5,815,788 36,761 $12,212.673 $5.253.672 Deletions 2,893,182 $2,893,182 Balance 12/31/2003 $2,213,755 7,278,655 2,121,386 2,959,367 $14,573,163 3. Interfund Receivables and Payables Interfund receivables and payables for the primary were as follows: Fund General Fund Whole Town General Fund Part Town Highway Fund Whole Town Highway Fund Part Town Special Grant Fund East-West Fire Protection District Solid Waste Management District Wastewater Disposal District Fishers Island Sewer District Capital Projects Trust & Agency Total Interfund Interfund Receivables $ 467,444 533,055 46,365 3,670,184 373,523 1,756,720 138,105 2,260 201,549 71,019 $ 7,260.224 government at December 31, 2003 Interfund Payables $ 6,563,632 70,531 112,684 15,000 498,377 $ 7.260.22~4 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 C. Detail Notes on all Funds and Account Groups (continued) 4. Due To/From Primary Government and Component Units Amount Receivable Component Units: Fishers Island Refuse & Garbage District $ 455,350 Fishers Island Ferry District 546,341 Orient Mosquito District 70,000 Cutchogue-New Suffolk Park District 141,013 Southold Park District 295,000 Orient-East Marion Park District 21,700 Mattituck Park District 386,230 Primary Government General Fund Capital Trust and Agency 23,651 Totals $ 1.939.285 Amount Payable $ 23,651 1,759,293 156,341 $ 1,939.285 5. Indebtedness Short-Term Debt Liabilities for bond anticipation notes (BAN's) are generally accounted for in the capital projects funds. The notes or renewal thereof may not extend more than two years beyond the original date of issue unless a portion is redeemed within two years and within each 12 month period thereafter. State law requires that BAN's issued for capital purposes be converted to long-term obligations within five years after the original issue date. However, BAN's issued for assessable improvement projects may be renewed for periods equivalent to the maximum life of the permanent financing, provided that stipulated annual reductions of principal are made. To Be Redeemed 2004 Various Purposes Various Purposes Landfill Closure New London Wharf Southold Park District Pickett Landfill Closure Total $ 2,096,000 1.140% $ 426,000 $ 1,670,000 3,800,000 1.216% 370,000 3,430,000 4,680,000 1.190% 310,000 4,370,000 3,000,000 1.140% 25,000 2,975,000 45,000 1.100% 45,000 0 1,147,302 .000% 1,147,302 $ 14,768,302 $ 1,176,000 $13,592,302 Interest Budget Description Amount Rate Appropriations Bonds TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Lonq-Term Debt a) At December 31,2003 the total outstanding indebtedness of the Town, excluding the above obligations aggregated $6,950,000. Of this amount, $6,400,000 was subject to the constitutional debt limit and, combined with the short-term debt listed above, represented 2.05% of its debt limit. b) Serial Bonds - The Town borrows money in order to acquire land or equipment or construct buildings and improvements. This enables the cost of these capital assets to be borne by the present and future taxpayers receiving the benefit of the capital assets. These long-term liabilities, which are full faith and credit debt of the local government, are recorded in the General Long-Term Debt Account Group. The provision to be made in future budgets for capital indebtedness represents the amount exclusive of interest, authorized to be collected in future years from taxpayers and others for liquidation of the long-term liabilities. c) Other Lonq-Term Debt - In addition to the above long-term debt, the local government had the following non-current liabilities: · Compensated Absences - Represents the value of earned and unused portion of the liability for compensated absences. d) Summary Lon,q-Term Debt - The following is a summary of long-term liabilities outstanding at December 31,2003 by fund type and account group: Liability Serial Bonds Judgments and Claims Compensated Absences General Discretely Long Term Debt Presented Account Group Component Unit Total $ 6,884,860 $ 65,140 $ 6,950,000 1,000,000 1,000,000 5,293,462 5,293,462 Total Long-Term Debt Account Group $ 13,178,322 $ 65,140 $ 13,243.462 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Lon.q-Term Debt (continued) e) The following is a summary of changes in the long-term liabilities for the period ended December 31,2003: Bonds and Compensated Notes Absences Payable at beginning of Year $ 7,615,000 $ 2,954,432 Additions 2,339,030 Deletions 665,000 Payable at end of Year $ 6~950.000 $ 5.293.462 Additions and deletions to compensated absences are shown net since it is impracticable to determine these amounts separately. f) The following table summarizes the Town's future debt service requirements for Serial Bonds as of December 31,2003: YearEndinq Principal Inte~st 2004 $ 675,000 $ 351,053 2005 700,000 309,748 2006 500,000 273,545 2007 520,000 247,053 2008 530,000 220,060 2009-2013 2,515,000 681,178 2014-2018 1,390,000 187,011 2019 120,000 2,820 Totals $ 6.950.000 $ 2.272,468 6. Retirement System Plan Description The Town participates in the New York Employee's Retirement System, the New York State Policemen's and Firemen's Retirement System and the Public Employee's Group Life Insurance Plan (Systems). These are cost-sharing multiple-employer retirement systems. The Systems provide retirement benefit as well as death and disability benefits. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 C. Detail Notes on all Funds and Account Groups (continued) 6. Retirement System (continued) The New York State Retirement and Social Security Law (NYSRSSL) govern obligations of employers to contribute and benefits to employees. As set forth in the NYSRSSL, the Comptroller of the State of New York (Comptroller) serves as sole trustee and administrative head of the Systems. The Comptroller shall adopt and may amend rules and regulations for the administration and transactions of the business of the Systems and for the custody and control of their funds. The Systems issue a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by writing the New York State and Local Retirement System, Gov. Alfred E. Smith State Office Building, Albany, N. Y. 12244. Funding Policy The Systems are noncontributory except for employees who joined the New York State and Local Employees' Retirement System after July 27, 1976 who contribute 3% of their salary. Under the authority of the NYSRSSL, the Comptroller annually certifies the rates expressed as proportions of payroll of members, which shall be used in computing the employers' contributions. The required contributions for the current year and two preceding years were as follows: ERS PFRS 2003 $ 443,861 $ 240,756 2002 $ 99,200 $ 65,087 2001 $ 61,327 $ 63,568 Contributions madetothe Systems were equalto 100% ofthe contributionsrequired ~r each year. Since 1989, the Systems' billings have been based on Chapter 62 of the Laws of 1989 of the State of New York. This legislation requires participating employers to make payments on a current basis, while amortizing existing unpaid amounts relating to the Systems' fiscal years ending March 31, 1988 and 1989 (which otherwise were to have been paid on June 30, 1989 and 1990, respectively) over a 17-year period, with an 8.75% interest factor added. Local governments were given the option to prepay this liability. The Town elected to make the full payment on December 15, 1993, by issuing serial bonds to replace this debt. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 C. Detail Notes on all Funds and Account Groups (continued) 7. Post Retirement Benefits In addition to providing pension benefits, the Town provides health insurance coverage and survivor benefits for retired employees and their survivors. Substantially all Town employees may become eligible for these benefits if they reach normal retirement age while working for the Town. Health care benefits and survivors' benefits are provided through either an insurance company or a self-funded plan whose premiums are based on the benefits paid during the year. The Town recognizes the cost of providing benefits by recording its share of insurance premiums or the actual benefits paid from the General Fund as expenditure in the year paid. During the year, $2,396,302 was paid on behalf of 83 retirees and 206 active employees and is recorded as expenditures in the General Fund. The cost of providing benefits for retirees is not separable from the cost of providing benefits for active employees. 8. Compensato~ Absences Town employees are granted vacation and sick leave and earn compensatory absences in varying amounts. In the event of termination or upon retirement, an employee is entitled to payment for accumulated vacation and sick leave and unused compensatory absences at various rates subject to certain maximum limitations. Estimated vacation and sick leave and compensatory absences accumulated by governmental fund type employees have been recorded in the general long-term obligations account group. Accumulated vacation and sick leave are recorded as a long-term liability in the general long-term debt account group if payable from future financial resources, or as a fund liability and expenditures if payable from current resources. D. Commitments and Contingencies The State of New York has commenced a lawsuit against the Town for unlawful discharge of gasoline and petroleum products at the Town's Highway department on Peconic Lane. As of the date of this report, the likelihood of an unfavorable outcome is uncertain, but is at least reasonably possible that cleanup costs and interest could total up to $1,000,000. The Town is self-insured for medical insurance only. The amount of claims outstanding at December 31,2003 is $112,929 and is reserved against fund balance in the General Fund. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 D. Commitments and Contingencies (continued) 1. Landfill Closure and Post Closure Care Costs The Town ceased accepting waste at its Cutchogue landfill as of October 8, 1993. The Town entered into a stipulation of settlement with the New York State Department of Environmental Conservation in October of 1994 in which all charges of operational violations at the Cutchogue landfill were dropped. Under the stipulation, the Town agreed to close and place a final cover over the landfill and to pay a civil penalty of $650,000 over seven years. Construction of the final cover commenced in the summer of 2001 and was completed in the fall of 2003. in addition to placement of the final cover on the landfill, state and federal regulations presently require the Town to perform certain maintenance and monitoring functions at the site for up to thirty years. Actual costs associated with the placement of the final cover totaled $7,681,719. Financing for closure activities was provided through a $2,000,000 grant from the New York State Department of Environmental Conservation with the balance provided with a state subsidized loan through the New York State Environmental Facilities Corporation. Costs associated with post closure care will be covered by charges to future landfill users and future tax revenue. 2. Litigation The State of New York has commenced a lawsuit against the Town for unlawful discharge of gasoline and petroleum products at the Town's Highway department on Peconic Lane. As of the date of this report, the likelihood of an unfavorable outcome is uncertain, but is at least reasonably possible that cleanup costs and interest could total up to $1,000,000. Any amounts reserved on all lawsuits have been recorded in the General Long-Term debt account group and in the opinion of the Town's management and legal counsel, all other claims are expected to be resolved with no further anticipated reserves considered necessary. 3. Lease Commitments and Leased Assets The Town leases property and equipment under operating leases. Total rental expenditures on such leases for the fiscal year ended December 31, 2003 were approximately $120,231. Future obligations over the primary terms of the Town's leases as of December 31,2003 are as follows: TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 D. Commitments and Contin.qencies (continued) 3. Lease Commitments and Leased Assets (continued) 2004 $ 153,192 2005 124,156 2006 108,405 2007 60,425 Total $ 446,178 E. Condensed Financial Statements for the Discretely Presented Component Units The following represents condensed financial statements for the discretely presented component units as of and for the year ended December 31,2003. Condensed Balance Sheet Assets and Other Debits Liabilities Amounts to be Due From Property Provided for Other Bonds and Current Primary Building & Long-Term Current Long-Term ~Assets Government Equipment Debt Liabilities Liabilities Fishers Island Ferry District Fishers Island Garbage District Cutchogue-New Suffolk Park Dist. Southold Park District Orient-East Marion Park District Mattituck Park District Orient Mosquito District $ 1,067,006 $ 546,341 $ 9,505,840 $ 65,140 $ 462,153 $ 65,140 420,511 455,350 2,693,154 28,396 239,726 141,013 145,705 141,383 311,287 295,000 1,024,212 295,000 30,564 21,700 432,985 30,691 619,206 386,230 771,267 420,452 17,182 70,000 70,000 ¢~L2~705.482 $1.915,634 $ 14 573~1¢~ $ 65.14~00 $1~448.0~.5 ~ 65~14~ TOWN OF SOUTHOLD Notes To Financial Statements December 31,2003 E. Condensed Financial Statements for the Discretely Presented Component Units (continued) Condensed Statement of Revenues, Expenditures and Changes in Fund Balances Fishers Island Ferry District Fishers Island Garbage District Cutchogue-New Suffolk Park Dist. Southold Park District Orient-East Marion Park District Mattituck Park District Orient Mosquito District Excess (Deficiency) Expenditures of Revenues Capital Debt and Revenues Current Outlay Service Expenditures $ 2,236,034 $ 1,818,558 $ 257,308 $ 72,424 $ 87,744 435,854 305,730 64,061 66,063 148,738 60,707 50,474 37,557 264,646 186,492 135,922 (57,768) 21,819 29,138 (7,319) 484,203 262,160 46,540 175,503 70,547 66,961 3,586 $ 3.661~8A1 7~L2+~ $ 554.305 $ 72,424 $_ 305.366 F. Recent GASB Pronouncements The Government Accounting Standards Board (GASB) has adopted the following: Statement No. 34, Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments, which establishes specific standards for the basic financial statements, management's discussion and analysis (MD&A), and certain required supplementary information (RSl) and other MD&A; Statement No. 37, Basic Financial Statements and Management's Discussion and Analysis for State and Local Governments: Omnibus, which make modifications to statement No. 34; and, Statement No. 38, Certain Financial Statement Note Disclosures, which modifies, establishes and rescinds certain financial statement disclosure requirements. The Town is in the process of evaluating the effects that these pronouncements will have on the general-purpose financial statements.