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2005
LEGAL NOTICE NOTICE IS ]HEREBY GIVEN that the Annual Financial Report of the Town of Southold for the Fiscal Year 2005 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: March 21, 2006 ELIZABETH A. NEVILLE SOUTHOLD TOWN CLERK PLEASE PUBLISH ONCE ON MARCH 29, 2006, AND FORWARD TWO (2) AFFIDAVITS OF PUBLICATION TO ELIZABETH NEVILLE, SOUTHOLD TOWN CLERK, TOWN HALL, PO BOX 1179, SOUTHOLD, NY 11971. Copies to the following: The Suflblk Times Town Board Members Town Attorney Town Comptroller Town Clerk's Bulletin Board #7804 STATE OF NEW YORK) )SS: COUNTY OF SUFFOLK) Jean BurQon of Mattituck, in said county, being duly sworn, says that he/she is Principal clerk of THE SUFFOLK TIMES, a weekly newspaper, published at Mattituck, in the Town of Southold, County of Suffolk and State of New York, and that the Notice of which the annexed is a printed copy, has been regularly published in said Newspaper once each week for 1 weeks, successively, commencing on the 30th day of March , 2006 Sworn to before me this 2006 c30 dayAJj1/~ CJmu?~ Y vlurf0! CHRISTINA VOLINSKI NOTAR" "'JWC.STATE OF NEW YORK No Q 1-V061 05050 QuOI,,,ed in Suffolk County CommissIon Expires February 28. 2008 LEGAL NO'IlCE NOTICE IS KEDII\' GIVEN that the A-..I ...... ..... of the Town of Southold for the FiIcaI. Year 2005 is on file in the Southold Town Clerk's Office, Southold Town Hall. 53095 Main Road, Southold, New York, and is available for publi(f inspection and copying . during regular business days and hours Monday through Friday, 8:00 a.m. to 4:00 p.m. Dated: March 21, 2006 ELIZABETH A. NEVILLE SOUTHOLDTOWN CLERK 7804- IT 3/30 Affidavit of Posting on 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 21st day of March 2006 she affixed a notice of 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, to wit: Town Clerk's Bulletin Board, Southold, New York, 53095 Main Road, Southold, NY 2005 ANNUAL FINANCIAL REPORT OF THE TOWN OF SOUTHOLD ~Swpl'n to before me this day Notary Public LINDA J COOPER NOTARY PUBLIC, State of New York NO 01CO482:-~563, Suffolk Cour~ty_ Ter~ Expires Decembe¢ 31, 20 ~' ACCOLINTING & FINANCE DEPT. John A. Cushman. Town Comptroller Telephone (6311 765-4333 Fax (631 } 765-1366 E mail: accounting(a~town.southold,ny.us TOWN HALL ANNEX 54375 Main Road P.O. Box 1179 Southold, NY 119714~)959 http://southoldtown.nort hfork.neff TOWN OF SOUTHOLD OFFICE OF THE SUPERVISOR RECEI¥,:D To: Betty Neville From: John Cushman Date: March 15, 2006 Re: Annual Financial Report for the year ended December 31,2005 Attached please find a copy of the Town of Southold's Annual Financial Report for the year ended December 31,2005 filed today with the Office of the State Comptroller (via e-mail). 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 12/31/2005 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 I I, :Scott A. Russell hereby cer~ifythat lam the Chief FiscalOfficer ofthe Town ' - of ISouthoJd , and that the information provided in the annual financial repod of the ~own of ISouthold , for the fiscal year ended 112/31/2005 , is true and correct to the best of my knowledge and I~elief. By entering the personal identification number assigned by the Office of the State Comptroller to me as the Chief Fiscal Officer of the ~'own of ISouthold , and adopted by me as my signature for use in conjunction with the filing of the ~Town of ISouthold '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 !12/31/2005 and filed by means of electronic data transmission. I John Cushman I ........ IScott A, Russell Name of Report Preparer Personal Identification Number Name if different than Chief Fiscal Officer of Chief Fiscal Officer 1(631) 765-4333 Telephone Number }Supervisor ~PO Box 1179, Southold, NY 11971 Title Official Address 1(631) 765~.4333 [3/15/2006 Office Telephone Number Date 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 2004 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2005: (Al GENERAL (BI GENERAL TOWN-OUTSIDE VG (CD) SPECIAL GRANT (DA) HIGHWAY-TOWN-WIDE (DB) HIGHWAY-PART-TOWN (HI CAPITAL PROJECTS (K) NON-CURRENT GOV ASSETS (SF) FIRE PROTECTION (SM) MISCELLANEOUS (SP) PARK (SR) REFUSE AND GARBAGE (SS) SEWER (TA) AGENCY (V) DEBT SERVICE (W) NON-CURRENT GOV LIABILITY All amounts included in this update document for 2004 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 2005 (A) GENERAL Balance Sheet Assets Cash 4,845,915 A200 5,045,622 Cash in Time Deposits 5,235,294 A201 4,246,342 Petty Cash 371 A210 474 Cash With Fiscal Agent 2,219 A2.23 Taxes Receivable, Current A250 3,017 Accounts Receivable 85,426 A380 21,516 State & Federal, Other 56,357 A410 81,849 Due From Other Funds 320,243 A391 176,390 Due From Other Governments 1,537,312 A440 1,867,136 Prepaid Expenses 526,855 A480 498,344 TO~'~[~~.'~'~" "'~'f~.~':;'~' ~i~:~ ~,~ ~;:~,.~:~ '! ~ ~.~ '~ ~ ¢. ~=~""'~'~,..' ~,.,~.,. '~ ~"~'; ~ ."~*"?'~' ~' ~.,' · ,,,.~ '~. ~" '~"*"~ '~ ,~'~'. · , .............. .....,,.,. . ,,~......., .,-., .,,~.,-.....,,~....-,...,.-~,.~.~- ~. ..... ~..,..... ,- .... · , ~... = .,, · ~.~ TO k' ~:';':~ ' ' '~' '~ ~'~"'' ' ""' .r t?".-,:.. ~., ~,~ ,.z:, .... "'"'~'": ':"' ' ~' ~ ~" ;':'.:'.:' Page 3 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Balance Sheet Liabilities And Fund Equity Accounts Payable 1,052,240 A600 627,049 Due To Other Funds 2,0~8,180 A630 2,287,631 Due To Other Governments 639 A631 1,156 Deferred Revenues 2,900,728 A691 3,018,595 ....................... ~ ..'"'~. '. ~ , ,~?~ ~.,.' ...... ~ .%-;,~..¥:"~ ~t' .).' ~ , ' · ~. . , · ~,,...~ .~,.. :~, .:~.~="'~ ~.'~..~ ,~-,~.~. ~ ....... ~ ..... ~ ~ ~ , ......... Rese~e For Encumbrances 71,341 A821 4,009 ~nsuraQce Rese~e 1,234,066 A863 1,105,879 Un~se~ed Fund Balan~ Appropriated 1,978,987 A910 2,657,200 Unresewed Fund Balan~ Unappropriated 3,355,298 A911 2,240,375 Page 4 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL ResuJts of Operation Detail Revenues A~d Other Sources Real Property Taxes 13,962,268 A1001 14,608,674 Other Payments In Lieu of Taxes 21,076 A1081 21,477 Interest & Penalties On Real Prop Taxes 44,644 A1090 47,330 Non Prop Tax Dist By County 415,071 Al120 415,071 Clerk Fees Other General Departmental income Police Fees Charges-Programs For The Aging Park And Recreational Charges Special Recreational Facility Charges Other Home & Community Services income 2,025 A1230 5,400 16,685 A1255 12,964 515 A1289 678 5,491 A1520 4,753 164,986 A1972 174,830 63,392 A2001 75,187 15,718 A2025 59,684 75,405 A2189 12,460 General Services, Inter Government 161,143 A2210 163,925 Programs For Aging, Other Govts 77,779 A2351 75,470 Misc Revenue, Other Govts 57,128 A2389 13,163 interest And Earnings 111,026 A2401 349,545 Rental of Real Property 140,115 A2410 137,416 Rental, Other (specify) 3,001 A2440 2,835 Bingo Licenses 725 A2540 654 Dog Licenses 9,574 ~544 9,863 Permits, Other 204,162 ~590 238,661 Fines And Fodeited ~ail 105,785 A2610 138,217 Fodeitures of Deposits 1,530 A2620 1,975 Sa~es of Scrap & Excess Materials 349,530 A2650 1,628 Sales, Other 6,749 A2655 5,582 Insuran~ Recoveries 48,799 A2680 86,080 Refunds of Prior Year's Expenditures 2,762 ~701 336,540 GiQs And Donations 33,005 A2705 24,764 Unclassified (specie) 92,261 A2770 70,965 St Aid, Mortgage Tax 2,867,143 A3005 2,527,097 St Aid, Real Property TaxAdmJnistrafion 12,570 A3040 7,882 St Aid - Other (specify) 64,889 A3089 74,994 StAid, Youth Programs 29,135 A3820 27,897 St Aid Emergency Disaster Assistance 289 A3960 i ,~ ~,.~,~' ~ ~' ~ ~' ~.'¢ '~ ',~ '~ ~ i f :'~; ~J,~/: ':,~; ~,'~;~;~t~,~' ~.~;; ¢.~ 5 ~ ~ ~ ~.~'~ ~ ~',. ~ ~..~: .e~-- ;'~; ~'~;,~.-: "':" '~' ~;~:.~ ~ ~"~ ~ ~ ~ Page 5 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Results of Operation Del:all Revenues And Other Sources Fed Aid Other Public Safety Fed Aid, Programs For Aging Fed Aid, Emergency Disaster Assistance A4389 158,604 A4772 1,733 A4960 II 50,000 124,348 Page 6 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (Al GENERAL Results of Operation Detail Expenditures And Other Uses Legislative Board, Pets Serv 99,596 A10101 112,000 Legislative Board, Contr Expend 230,764 A10104 149,345 Municipal Court, Pets Serv 322,229 A11101 334,658 Municipal Court, Equip & Cap Outlay A11102 608 Municipa~ Court, Contr Expend 36,131 Al1104 54,284 Supewisor, pem Se~ 168,~6 A12201 203,762 Supewisor, equip & Cap Outlay A12202 576 Supe~isor, contr E~end 8,156 A12204 8,334 Dir of Finance, Pers Se~v Dir of Finance, Equip & Cap Outlay Dir of Finance, Contr Expend 272,066 A13101 276,993 A13102 1,074 16,612 A13104 13,455 Auditor, Contr Expend 50,000 At3204 50,000 Tax Co~ection,pers Serv 74,950 A13301 75,511 Tax Collection,contr Expend 12,737 A13304 18,144 Assessment, Pers Se~ 319,709 A1355~ 328,608 Assessment, Equip & Cap Outlay A13552 ~,~50 Assessment, Contr Expend 20,~8 A135~ 17,705 Clerk,pets Serv 277,608 A14101 314,414 Clerk,equip & Cap Outlay 14,044 A14102 1,420 Clerk,contrExpend 7,760 A14104 11,599 Law, Pers Serv 210,456 A14201 219,925 Law, Equip & Cap Out~ay 1,240 A14202 262 Law, Contr Expend 54,725 A14204 77,402 Engineer, Pers Serv 58,034 A14401 66,493 Engineer, Contr Expend 1,450 A14404 1,594 Records Mgmt, PerS. SerV. Records Mgmt, Equip & Cap Outlay 52,940 A14601 61,127 A14602 48,734 Public Works Admin, Pets Serv Public Works Admin, Contr Expend 56,681 A14g01 58,113 640 A14904 568 Buildings, Pets Serv Buildings, Equip & Cap Outlay Buildings, Contr Expend 437,882 A16201 572,900 62,640 A16202 126,123 534,122 A16204 464,608 Centra~ Garage, Equip & Cap Outlay A16402 Page 7 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Central Garage, Contr Expend 7,669 A16404 11,937 Central Print & Mail, Equip & Cap Outlay Central Print & Mail,contr Expend 33,085 A16702 37,784 30,499 A16704 27,709 Central Data Process, Pers Serv 141,043 A16801 202,868 Central Data Process & Cap Outlay 77,395 A16802 24,710 Central Data Process, Contr Expend 155,887 A16804 181,018 Unallocated Insurance, Contr Expend 545,316 A19104 482,256 Municipal Assn Dues, Cen[r Expend 1,650 A~9204 1,800 Public Safe~ Corem Sys, Pers Se~ 511,823 A30201 552,261 Public Safety Corem Sys, Equip & Cap Outlay 58,963 A30202 49,789 Public Safety Corem Sys, Contr Expend 42,808 A30204 36,766 Polio, Pets Se~ 5,021,305 A3~201 5,64~,384 Police, Equip & Cap Outlay 118,407 A3~202 2~,399 Petit, Contr Expend 306,827 A3t204 352,866 Traffic Control, Oon[r Expen 13,318 A33104 9,g57 Fire, Contr Expend 328 A34104 364 Control of Animals, Equip & Cap Outlay 1,400 A35102 60,000 Control of Animals, Contr Expend 156,000 A35104 162,240 Examining Boards, Pers Serv 7,402 A36101 8,303 Examining Boards, Contr Expend 2,721 A36104 4,383 Civil Defense, Pers Serv Civil Defense, Equip & Cap Outlay Civil Defense, Contr Expend 8,454 A36401 11,000 1,732 A36402 348 2,876 A36404 3,085 Public Health, Contr Expend 300 A40104 300 Narcotic Guid Council, Contr Expend 32,988 A42104 32,988 Street Admin, Pets Serv 223,931 A50t01 219,487 Street Lighting, Pers Serv 52,887 A51821 81,387 Page 8 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Street Lighting, Equip & Cap Outley 3,145 A51822 672 Street Lighting, Contr Expend 109,090 A51824 130,448 Off-Street Parking, Equip & Cap Outlay 4,995 A56502 Off-Street Parking, Contr Expend 7,818 A56504 14,883 Publicity, Contr Expend 40,000 A64104 40,000 Programs For Aging, Pers Serv 656,765 A67721 656,218 Programs For Aging, Equip & Cap Outlay 4,989 A67722 4,201 Programs ForAging, Contr Expend 229,812 A67724 200,719 Recreation Admini, Pets Se~ 93,499 A70201 99,725 Recreation Admini, Equip & Cap Outlay 781 A70202 834 Recreation Admini, Contr Expend 74,269 A702~ 74,876 Special Rec Facility, Peru Se~ 102,6~ A71801 ~08,502 Special Rec Facility, Contr Expend 7,~70 A71804 6,468 Libra~, Contr Expend 45,000 A74104 45,000 Historian, Pets Sew 14,483 A75101 14,771 Historian, Equip & Cap Outlay 299 A75102 374 Historian, Contr Expend 1,202 A751 ~ 750 Historical Prope~y, Pers Se~ 1,~67 A75201 1,367 Historical Prope~, Contr Expend A75204 1,233 Celebrations, Contr Expend 1,250 A75504 868 Planning, Contr Expend 8,500 A80204 8,500 Environmental Control, Pets Sew Environmenta~ Control, Equip & Cap Outlay Environmental Control, Contr Expend Refuse & Garbage, Contr Expend 116,718 A80901 t79,635 556 A80902 10,679 A80904 10,913 19,034 A81604 Comm Beautification, Equip & Cap Outlay 57,128 A85102 13,163 Shade Tree, Pem Sew 643 A85601 Page 9 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Shade Tree, Contr Expend 7,266 A85604 15,492 Conse~ation, Equip & Cap Outlay 1,182 A87102 852 Conse~ation, Contr Expend 9,278 A87104 7,064 Fish And Game, Contr Expend 17,950 A87204 18,000 Cemete~, Contr Expend 6 A88104 6 Misc Home & Corem Sew, Pers Se~ 52,348 A89891 59,735 Misc Home & Corem Sew, Contr Expend 2,782 A89894 1,913 State Retirement System Police & Firemen Retirement, Empl Bnfls 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) 371,096 A90108 526,185 510,490 A90158 934,153 669,807 A90308 738,661 148,024 A90408 137,048 12,322 A90508 16,000 130,008 A90558 232,592 3,014,128 A90608 3,254,433 12,242 A90898 18,891 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 625,517 A97106 715,282 522,000 A97306 555,519 Transfers, Other Funds 1,908,195 A99019 1,895,023 Page 10 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUI'r¥ Fund Equity-Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCE~ DEDUCT - EXPENDITURES AND OTHER USES Fund Equity-End of Year 5,319,412 A8021 6,639,693 5,319,412 A8022 6,639,693 22,259,286 22,550,868 20,939,005 23,183,099 6,639,693 A8029 6,007,463 Page 11 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Properly Tax Items Est Rev - Non Property Tax Items Est Rev - Departmental Income Esl 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 Soumes Est Rev ~ Interfund Revenues Est Rev - State Aid Appropriated Fund Salance ~,~,u~r, Sou~,.,,. '..: .:.~:',~:. · .- -... :.., , ...... · . ,,..,, ....... ~.. .... ' ""' ;"J · 0 f~i'XL'Ve~'l~ll~r~'~i~,~so~,r~=" '""~'.~.::.,.... ....... .' '. ' '"'" '~o;~'=~'"'" ' A1049N 14,872,736 A1099N 68,500 A1199N 616,000 A1299N 342,100 A2399N 386,616 A2499N 460,000 A2599N 223,100 A2649N 112,000 A2699N 74,050 A2799N 47,420 A2801N 3,005,980 A3099N 2,434,897 A599N 3,032,200 '=':'~*'='= .. ~,,. "" ::' ..~',,.', ~s,~:/~ll~. Page 12 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (A) GENERAL Budget Summary Appropriations And Other Uses App - General Government Support App - Public Safety App - Health App - Transportation App - Economic Assistance And Opportunity App - Culture And Recreation App - Home And Community Services App - Employee Benefits App - Debt Service App - Interfund Transfer A1999N 6,116,403 A3999N 7,297,533 A4899N 33,300 A5999N 442,710 A6999N 1,030,920 A7999N 395,314 A8999N 362,224 A9199N 6,257,400 A9899N 1,559,500 A9999N 2,180,295 Page 13 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet Assets Cash In Time Deposits 669,200 B201 740,370 Accounts Receivable 50,488 B380 46,769 State & Federal Receivables B410 42,750 Due From Other Funds 158,881 B391 152,519 Prepaid Expenses T~.~'". "::~ .... ' "~i17 Page 14 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet Liabilities And Fund Equity Accounts Payable 98,264 B600 14,395 Due To Other Funds B630 6,974 Deferred Revenues 106,694 B691 99,666 Unreserved Fund Balance Appropriated 220,517 B910 344,246 Unreserved Fund Balance Unappropriated 484,202 B911 543,813 Page 15 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (S) GENERAL TOWN-OUTSIDE VG Results of Operation Detail Revenues And Other Sources Real Property Taxes 442,976 B1001 538,773 Other Payments In Lieu of Taxes 2,749 B1081 808 Interest & Penalties On Real Prop Taxes 96 B1090 412 Franchises 336,139 Bl170 213,786 Other General Departmental Income Safety Inspection Fees Public Health Fees Zoning Fees Planning Board Fees Interest And Earnings 8,395 B1289 8,223 491,863 B1560 471,909 13,639 B1601 16,377 68,450 B2110 63,450 126,394 B2115 179,324 8,636 B2401 28:321 Permits, Other 71000 B2590 5,200 Sales, Other Refunds of Prior Year's Expenditures Unclassified (specify) St Aid, State Revenue Sharing St Aid, Other Aid (specify) 8,297 B2655 8,556 B2701 74,427 25 e2770 72,650 B3001 75,374 B3089 42,750 Page 16 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (B) GENERAL TOWN-OUTSIDE VG Results of Operation Detail Expenditures And Other Uses Law, Pers Serv 57,654 B14201 61,503 Law, Contr Expend 34,860 B14204 38,392 Zoning, Pers Serv Zoning, Equip & Cap Outlay Zoning, Contr Expend 129,205 B80101 114,362 217 B80102 1,724 15,044 B80104 12,989 337,519 B80201 415,864 1,950 B80202 93 22,378 B80204 18,236 State Retirement, Empl Bnffs 69,920 B90108 98,137 Social Security, Empl Bnffs 68,792 B90308 75,124 WoOers Compensation, Empl Bnffs 7,625 B90408 6,938 Disability Insurance, Empl Bnffs 14,226 B90558 24,317 Other Employee Benefits (spec) 6,801 B90898 6,26~ Debt Principal, Serial Bonds 5,078 B97106 5,074 Debt Interest, Serial Bonds 622 B97107 311 Transfers, Other Funds 288,755 B99019 264,969 Page 17 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 555,356 B8021 704,720 555,356 B8022 704,720 1,587,310 1,727,690 1,437,947 1,544,350 704,720 B8029 888,060 Page 18 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (B) GENERAL TOWN-OUTSIDE VG Budget Summa~ Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Reap Property Tax Items Est Rev - Non Property Tax Items Est Rev - Departmental Income Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - Sale of Prop And Comp For Loss Est Rev-State Aid B1049N 492,996 B1099N 1,200 B1199N 205,000 B1299N 636,400 B2499N 25,000 B2599N 5,200 B2699N 10,000 B3099N 75,374 Page 19 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (B) GENERAL TOWN-OUTSIDE VG Budget Summary Appropriations And Other Uses App - General Government Support App - Public Safety App - Health App - Home And Community Services App - Employee Benefits B1999N 144,600 B3999N 439,210 B4999N 7,200 B8999N 682,472 B9199N 236,900 Page 20 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (CD) SPECIAL GRANT Balance Sheet Accounts Receivable 5,000 CD380 ~TAE,.~,e,~Mm..O~r~en~~ ...... , ............ . . .., ~,~:. ..:.::~. ~,.=... ~ ..;~ .,... Page 21 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (CD) SPECIAL GRANT Balance Sheet Liabilities And Fund Equity Accounts Payable 62,330 CD600 5,000 Tof~:~,c~,~,u,',;;-~, .. '~' .; · .':.?' · · .,'., "' ~' ..... ~ .... ~ ~:; ~ ' ':~.i~.~0~ .......................... ,. ~. ... :~.,~,, ....~ ,..,: .'¢~,' ..~..:.:.::, .;~ .,.~;,., : ..O.. ,:'~:. ... .~,..~.,,,,~:..-,.~,. ~" .... ....~,.:~,~,~.,~.,,.....,,~.:....:~,.:.......,:,....~.. .,??... :' ~,~.. ,~.... ~?~.." .~.~.¥ .~.¢;~,'... ,..,.~,.,',. T~e~,.?..,.:...,.c2:.,,.,,::.,.,. ,' .~...,.. :"',': . ,~.~ · ;t', ' .... ~', ........ ' .......... """ Unresewed Fund Balance Appropriated 619 CD910 ¢~~~x, ~., '"'.,. .... -,' ................... .....,~ . ... , .~, . ........ . · .. · ...... ~;~'~,~,..~';~,~*..,~.,~..:~=~:~,~,~'~'..'...~., ~;,~':~;~.'~'~r~"~' :.~~..:~ ~,~. Page 22 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (CD) SPECIAL GRANT Results of Operation Detail Revenues And Other Sources Refunds of Prior Year's Expenditures Fed Aid, Community Development Act 5,000 C02701 166,368 004910 224,136 Page 23 QSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (CD) SPECIAL GRANT Results of Operation Detail Expenditures And Other Uses Prov of Public Service, Contr Expen 170,749 CD86764 224,755 Page 24 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (CD) SPECIAL GRANT 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 0 CD8021 619 0 CD8022 619 171,368 224,136 170,749 224,755 619 CD8029 Page 25 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DA) HIGHWAY-TOWN-WIDE Balance Sheet Cash In Time Deposits ~o~i ' ."'"" ~ TO~',: '. ".'?~'::': ' Page 26 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DA) HIGHWAY-TOWN-WiDE Balance Sheet Liabilities And Fund Equity Accounts Payable !0T,,A~..,~,t. ~'.ya',~e...;.i~,{~'~.''~ TOTAL· Llabll .~.. ~ ~.:.,~,;,:.!':,., ~"~'.+~'~'." Unreserved Fund Balance Appropriated 15,954 DA600 ~. '~7.. ~? "'.'~,'-'~...",. · "'"' '" 125,000 DA910 16,000 Unreserved Fund Balance Unappropriated 13,851 DA911 15,922 TO~t~/~[l~l~ Fund ~ ', ~.",:;1' '.:. ::, ~ ",.' ".' '" ~. ?....-. , ...... .... T~¥AL~.'i"~:i~:~.,~,,.+~tWI~'~Jf~' " Page 27 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DA) HIGHWAY-TOWN-WiDE Results of Operation Detail Revenues And Other Sources Real Proped'y Taxes -109,550 DA1001 -123,050 Other Payments in Lieu of Taxes 135 DA1081 111 Interest And Earnings 1,958 DA2.401 2,377 Refunds of Prior Year's Expenditures 16 D~701 15,882 Page 28 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DA) HIGHWAY-TOWN-WIDE Results of Operation Detail Expenditures And Other Uses Worker's Compensation, Empl Bnfts Disability Insurance, Empl Bnfls 610 DA90408 DA90558 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 2,121 DA97106 2,119 260 DA97306 130 Page 29 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DA) HIGHWAY-TOWN-WIDE 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 249,282 DA8021 138,851 249,282 DA8022 138,851 -107,441 -104,680 2,990 2,249 138,851 DA8029 31,922 Page 30 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DA) HIGHWAY-TOWN-WIDE Budget SummanJ Estimated Revenues And Other Sources Est Rev - Use of Money And Property DA2499N 100 Appropriated Fund Balan~ DA599N 16,000 ~~'~:.~,' .. ;:.: "'. ~ ..., .............. ~,~.~,.~,, ~.~~g~.~;.;~ .... ='.'::~i~;0~.. Page 31 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DB) HIGHWAY-PART-TOWN Balance Sheet Cash In Time Deposits Special Assessments Receivable Accounts Receivable 835,750 DB201 991,002 DB370 4,278 2,433 DB380 3,914 Due From Other Funds Prepaid Expenses TOTAL'~ffi · .,..%,,. ~.~.~.., .~..;.. -;: ... . 778,294 DB391 828,984 142,059 DB480 56,947 ' ' ''.: ~:.':.'.~.. !~,~.~,~',~,~;~,~.~'. ',, .. '~:,,:.','.....?~.~,~.,~., .~ Page 32 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DB) HIGHWAY-PART*TOWN Balance Sheet Liabilities And Fund Equity Accounts Payable 253,870 DB600 72,436 Deferred Revenues 777,883 DB691 831,185 Unrese~ed Fund Balance Appropriated 369,564 DB910 339,900 Unrese~ed Fund Balance Unappropriated 411,982 DB911 685,026 Page 33 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DB) HIGHWAY-PART-TOWN Results of Operation Detail Revenues And Other Sources Real Property Taxes 3~629,882 DB1001 3,928,082 Other Payments In Lieu of Taxes 2,749 DB1081 5,892 Interest & Penalties On Real Prop Taxes 795 DB1090 3,043 Refunds of Prior Year's Expenditures Unclassified (specifT) Additional Description Reimb Private Property Remediation St Aid, Consolidated Highway Aid St Aid Multi-Modal Transp Program DB2680 880 DB2701 138,438 DB2770 734 222,971 DB3501 188,147 5,365 DB3505 Page 34 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DB) HIGHWAY-PART-TOWN Results of Operation Detail Expenditures And Other Uses Maint of Streets, Pets Serv 1,030,413 DB51101 1,102,608 Maint of Streets, Contr Expend 429,600 DB51104 548,952 Perm Improve Highway, Equip & Cap Outlay Machinery, Peru Serv Machinery, Equip & Cap Outlay Machinery, Contr Expend Brush And Weeds, Pers Serv Brush And Weeds, Equip & Cap Outlay Brush And Weeds, Contr Expend 222,971 DB51122 188,147 308,312 DB51301 352,671 27,721 DB51302 82,977 145,157 DB51304 161,868 93,599 DB51401 83,695 611 DB51402 200 39,710 DB51404 36,891 Snow Removal, Pers Sen/ Snow Removal, Equip & Cap Outlay Snow Removal, Contr Expend 202,096 DB51421 210,698 41,500 DB51422 23,190 96,430 DB51424 121,871 State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnffs Disability Insurance, Empl Bnffs 159,985 DB90108 223,086 125,034 DB90308 133,851 99,913 DB90408 91,456 29,560 DB90558 51,949 Debt Principal, Serial Bonds 7,713 DB97106 7,707 Debt Principal, Bond Anticipation Notes 125,000 DB97306 156,785 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 944 DB97107 472 11,182 DB97307 11,158 Page 35 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 662,802 DB8021 781,546 662,802 DB8022 781,546 3,891,586 4,353,698 3,762,842 4,110,318 781,646 DB8029 1,024,926 Page 36 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DB) HIGHWAY-PART-TOWN Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Use of Money And Proper~y Est Rev - Licenses And Permits Est Rev - State Aid DB1049N 4,111,447 DB1099N 8,500 DB2499N 72,000 DB2599N 6,500 DB3099N 231,332 Appropriated Fund Balance DB599N 339,900 TOTAL;- · .~.~ .... L.rr~ ............. . .... · .... ~.~ ...... o:....~. TO~'¥.~~?~nil.. , ....= Other 8OUTCe~. ' ': ........ ' ' Page 37 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (DB) HIGHWAY-PART-TOWN Budget Summary Appropriations And Other Uses App - Transportation App - Employee Benefits App - Debt Service Interfund Transfers DB5999N 3,485,358 DB9199N 543,162 DB9899N 294,785 DB9999N 446,374 Page 38 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (H) CAPITAL PROJECTS Balance Sheet Assets Cash In Time Deposits 9,984,647 H201 9,406,685 Accounts Receivable H380 30,500 Slate & Federal Receivables 200,000 H410 1,004,500 Due From Other Funds 590,991 H391 778,297 Due From Other Governments 484,562 H440 759,803 Page 39 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (H) CAPITAL PROJECTS Balance Sheet Liabilities And Fund Equity Accounts Payable 362,943 H600 350,056 Retained Percentages, Cont Pay 370,163 H605 374,030 Bond Anticipation Notes Payable 12,625,600 H626 11,720,000 Due To Other Funds 221,126 H630 249,158 ~ti~i ~'~.... ;?~~'~" "' "' ..... ...., '.~;~'.~:~,.r~ ~z~,~<~',, : ¥;~~:~,~." '." '. ~-~..', ~'~¥ ........... , ..... ... ' ' ':t; '~'~."~?:'~'~ ...... "" '~'~.:,~,: ~'~.~~"~.~ .' ' :,:~2~,~.,.~: Unresewed Fund Balance Appropriated 8,520,871 H910 5,567,107 Unresewed Fund Balance Unappropriated -10,840,5~ H911 -6,280,565 TOT~ U~na Equl~ ':~'~;:~' · · ' . .,,...','..: '" · :' "~t 2~0, t~ .... ".':;;~;.;:"'. . ?':;,?~;~. Page 40 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (H) CAPITAL PROJECTS Results of Operation Detail Revenues And Other Sources Misc Revenue, Other Govts 6,045,685 Unclassified (specify) H2389 7,200,274 117,462 H2401 295,989 H2701 15,307 38,350 H2705 500,150 123,104 H2770 36,000 ST, Aid Multi-Modal TransP. Program St Aid, Other Transportation St Aid, Other Home And Comm Sen/ Fed Aid - Cap Projects 300,000 H3505 50,000 H3589 1,273,260 H3989 1,047,250 Serial Bonds 4,029,098 H5710 3,000,000 Bans Redeemed From Appropriations 1,196,000 H5731 1,115,095 TO:rA.L ";.' ' ': ' ":'"' '',~ Page 41 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (H) CAPITAL PROJECTS Results of Operation Detail Expenditures And Other Uses General Govt, Equip & Cap Outlay 413,663 H19972 737,902 Public Safety Cap Proj 779 H30972 235,231 Highway, Capital Projects 6,644,306 H51972 2,098,420 Other Econ & Dev, Equip & Cap Outlay · ~J;'~"~'~,,.~:~-~d'~..n~?;~"~;;~:" :." "~i'.~;~".' ':~' '-"' .......... ",' · ........ :;~ 3~{~.' '..:.... : ~'~~'~x~oi~'a~,. ~ ,.':,;~. :~:,!. ~' '~"..~ .=~*~.~-~.,.:.,~..,:.:..,"... ....., Parks, Equip & Cap Outlay Sanitation, Equip & Cap Outlay 16,460 H69972 · ., ....... ~, .. · :~..F~'.'~! i .~'~.' "". ~., · "' "'"'~'~' ' · ..' ~:~.!'~ · . .:.'" ': '-,':~ :~0 11,677 H71102 20,536 .,-.¥.~.~,.~*~.,.~e~ .-.~ ........ .. :.'. '.:,',~,.;.~ : ;¥~;'~,~.'~.~;~:'.i??..,~,~' ' '.": '~.;'~., 1,357,407 H87972 1,594,963 Misc Home & Corem Serv, Equip & Cap Outlay 7,242,444 H89892 10,270,995 Debt Interest, Serial Bonds 4,360 H97107 4,429 Debt Interest, Bond Anticipation Notes 15,166 H97307 39,086 Page 42 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 -2,675,998 H8021 -2,319,633 -2,675,998 H8022 -2,319,633 16,062,627 16,607,738 15,706,262 15,001,563 -2,319,633 H8029 -713,458 Page 43 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (K) NON-CURRENT GOV ASSETS Balance Sheet Assets Land 40,005,841 K101 49,986,031 Buildings 7,986,239 K102 8,114,623 Improvements Other Than Buildings 16,044,727 K103 16,074,544 Machine~J & Equipment 11,857,287 K104 12,723,542 Construction Work In Progress 10,991,182 K105 14,782,738 Infrastructure 71,455,572 K106 72,176,911 Page 44 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (K) NON-CURRENT GOV ASSETS Balance Sheet Liabilities And Fund Equity Total Non-Current Govt Assets 158,343,847 K159 173,858,390 ........ ~,, .... ', ' ." :' '" .' . .-, - ". " · ". ?~ ~'~,., '"' .... .' ~."~',',.: , ...,' "~'7 ": ;'~. '~.~'. . ~ .. .-.~.~.. ,, ,~: ,i "~, ,~ :'~' '"' ~ ' ~..,~ '.' ,~' ',:',.~.. ~" ";~'~'~,., '~'. '" ........ ' " Page 45 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SF) FiRE PROTECTION Balance Sheet Cash in Time Deposits Due From Other Funds TOTAL ~,u~"O~her Fun~?.:.,.~ .. · 25,900 SF201 27,767 81,798 SF391 92,199 .... ". ' .'. .'.::'~'~:'~ = "'. ":'.'"' 92199 Page 46 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SF) FIRE PROTECTION Balance Sheet Liabilities And Fund Equit7 Accounts Payable 12,544 SF600 12,656 Deferred Revenues 81,798 SF691 92,199 Unrese~ed Fund Balan~ Appropriated 5,300 SF910 4,350 Unrese~ed Fund Balance Unappropriated 8,056 SF911 10,762 Page 47 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SF) FIRE PROTECTION Results of Operation Detail Revenues And Other Sources Real Property Taxes 373,523 SF1001 413,058 Interest & Penalties On Real Prop Taxes 47 SF1090 290 Interest And Earnings 817 SF2401 2,688 Page 48 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SF) FIRE PROTECTION Results of Operation Detail Expenditures And Other Uses Fire Protection, Contr Expend 368,562 SF34104 414,282 · ~-~ .... ~.~&,,; ....., ..... .. ~:; ,.~,~,~. ~.., · ...~,.,:~; ?~ '.'~i~2 ...~.~.~;__..'.*;.,.,~_~:':'.......~,.,.,... .... ~.=, ..~ .. , ~ .... Page 49 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 7,531 SF8021 13,356 7,531 SF8022 13,386 374,387 416,037 368,562 414,282 13,356 SF8029 15,111 Page 50 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SM) MISCELLANEOUS Balance Sheet Cash 41,062 SM200 22,384 Cash In Time Deposits 547,061 SM201 268,336 Petty Cash 1,538 SM210 1,536 State & Federal Receivables 49,674 SM410 48,767 Due From Other Funds 180,007 SM391 310,258 Prepaid Expenses 33,418 SM480 24,467 mt~..,~;~... '. ,:,"~ ......., ... .... ~.. ..,.~...: ~,~,:......,.'-"~ .... ~..:. '.~..':..~. '.' "~' ; .... .... .~,~;.~ ......... .... "..'~' .,.:~.,..f' .~ ........... ..~, ...... ,~..,~.:.~F. · :.,~::.,...;~,~...,~.,. .. ..... Page 51 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SM) MISCELLANEOUS Balance Sheet Liabilities And Fund Equity Accounts Payable Deferred Revenues ..... , .......... ,.~ ..... ~ ~AL, Dele m~.Re~e~ 'JZ~ ~.': '~ I~;.i~' .~ ..... .' "· '.' ' ' ',"~:;"~ ~: .' ':' TOTAL g ~ Unreserved Fund Balance Unappropriated 35,872 SM600 115,741 93,996 8M691 95,871 .. ? :....~,.,..~ ¥.. ,..?,:. ?.!~ ~,,~ ~..r~i~.,~,~ ,?..~,.~.~.: .~ .....:'~ "~'.- "~ ~ ~,~" '? ...... ~. 722,894 SM911 464,155 Page 52 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SM) MISCELLANEOUS Results of Operation Detail Revenues And Other Sources Real Properly Taxes 460,000 SM1001 474,650 Interest & Penalties On Real Prop Taxes 49 SM1090 281 Interest And Earnings Commissions Refunds of Prier Year's Expenditures Gifts And Donations St Aid, Other Aid (specify) Additional Description NYS DOT Federal Aid - Other 7,026 SM2401 13,377 7,779 SM2450 6,858 1,230 SM2701 39 2,000 SM2705 SM3089 684 49,674 SM4089 412,974 Page 53 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SM) MISCELLANEOUS Results of Operation Detail Expenditures And Other Uses Other Gen Govt Support, Contr Expend Insect Control, Pets Se~ Insect Control, Contr Expend Insect Control, Empl Bnfls 114,626 SM19894 118,748 tt4 ~2e~.,,.~: ~,.. · ·.., ~ ~.'!,~.~i~"~ 114628,' '",~" .' · ;...':~ -. ~-i~ 27,482 SM40681 27,910 38,776 SM40684 24,761 4,572 SM40688 6,551 OtherTranspor~ation, Pers Serv 979,458 SM56801 1,126,359 Other Transpodation, Ewuip & Cap Outlay 315,622 SM56802 729,001 Other Transportation, Contr Expend 299,198 SM56804 457,944 Other Transportation, Empl Bnffs 300,076 SM56808 340,022 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 32,571 SM97106 182,569 25,000 SM97306 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 4,565 SM97107 1,676 24,739 SM97307 37,941 Page 54 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 622,034 SM8021 722,893 622,034 SM8022 722,898 2,303,465 2,811,686 2,202,606 3,070,425 722,893 SM8029 464,155 Page 55 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SP) PARK Balance Sheet Assets Cash In Time Deposits 360,636 SP201 341,099 Accounts Receivable 9 SP380 Due From Other Funds 175,610 SP391 183,117 Prepaid Expense 972 SP480 761 T~'E~n~ .... . :. ..'""~' '.: ~ · .... ~.~;.,. , ......,'":¢':;x:,-~ ~:. ...... · ., ' -'.'. ~;::¢ ;~[~:" '.;:?.. ?.972' · ': ~,~,.:~,::. · ..... .,? ....... ., ........... ~......,..,.=...., . ..~..........~.~ . ....., .~. ..... ..;.. 1~:.,~.... ?~ ..: ....-.: :.,...~.~.,~8~,~. ,. [~ Page 56 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (sP) PARK Balance Sheet Liabilities And Fund Equity Accounts Payable TO Due To Other Funds 25,960 SP600 19,258 2,000 SP688 SP630 9,295 Due To Other Governments 2,604 SP631 2,271 Deferred Revenues 175,610 SP691 183,117 T T, ', , ~[.. ~-,'".a~, "'~; ,,~,,~ ~: ............ · ...~:~,.,.~ ..... ~. ~ . ..~.-~.~.,~ · . ..~:.~~.~ ~,~;,,.~.,~,~ .......... . ........ ~., ,.~,.,~ ~..~ ....... ~.,~,,,..~~~ ....... Rese~e For Encumbran~s SP821 19,279 :~.:~2'~''''' ::' .: - '.':~:~?~:~.~c::';:':- .o Unresewed Fund Balance Appropriated 70,000 SP910 60,000 Unresewed Fund Balance Unappropriated 261,053 SP911 231,757 . ........ .,. ,..i.,., ~ ~.."~'~ ~ .'' '...: '.. ' · ': : .' ~,~..~".%* ~ "' ' ~":.": ..... .: ~.....__'~:~7 ~: *' ....... ' :.~.~__...., -qu'~,,.. ' ' "~ "' = .............. Page 57 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SP) PARK Results of Operation Detail Revenues And Other Sources Real Property Taxes 843,943 SP1001 886,830 Interest & Penalties On Real Prop Taxes 49 SP1090 285 Interest And Earnings 44,261 SP2401 13,162 Sales of Scrap & Excess Materials SP2650 7,840 Unclassified (specie) 13,705 SP2770 41,998 Page 58 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SP) PARK Results of Operation Detail Expenditures And Other Uses Parks, Pers Serv Parks, Equip & Cap Outlay Parks, Contr Expend Parks, Empl Bnfts 310,675 SP71101 292,794 160,507 SP71102 254,876 313,152 SP71104 319,942 39,740 SP71108 16,869 Debt Principal, Serial Bonds SP97106 40,000 Debt Principal, Bond Anticipation Notes 45,000 SP97306 Debt Interest, Serial Bonds SP97107 5,651 Debt Interest, Bond Anticipation Notes 88 SP97307 Transfers, Capital Projects Fund 15,000 SP99509 40,000 Page 59 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 313,257 SP8021 331,053 313,257 SP8022 331,063 901,958 950,115 884,162 970,132 331,053 SP8029 31t,036 Page 60 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SR) REFUSE AND GARBAGE Balance Sheet Assets Cash 3,601 SR200 Cash In Time Deposits 750,898 SR201 887,522 Petty Cash 300 SR210 400 Accounts Receivable 88,382 SR380 128,495 Due From Other Funds 546,643 SR391 596,670 Prepaid Expenses 66,631 SR480 47,231 .............. .., ...... . ......... ~. ........... ,.,..~.. ... .... · ..... ' .... ~' ' "~ '"'"" ~'"" "" ~J;h': ~'~'~ ~,~ Page 61 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SR) REFUSE AND GARBAGE Balance Sheet Liabilities And Fund Equity Accounts Payable 211,061 SR600 196,981 Due To Other Funds 19,430 SR630 20,700 Deferred Revenues 374,248 SR691 469,209 "" '" ~'"'=" ='"'"' ~: "' '" ......... "'" "' "'~'"" ." '-'"' "'~.~-" · ":' "~~;:"~'". · ' · ~ -,-- .. ~.., ·, ,...~,~.~ .,., .... . ......~ ..... ? . .' ........... .~...~ .....~..,,.......~.~,. .....,.~,~ ........ ~ ....... . Hnm~od Fund Balanc~ ~ppro~riatod ~20,a85 SR0~0 log,000 Unrese~ed Fund Balance Unappropriated 731,532 SR911 805,427 ..... ~,.~.~~.,~.......,,.-,... ,, . .,... ....... .~... Page 62 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SR) REFUSE AND GARBAGE Results of Operation Detail Revenues And Other Sources Real Property Taxes 2,010,834 SR1001 1,889,840 Interest & Penalties On Real Prop Taxes 253 SR1090 907 Refuse & Garage Charges 1,755,201 SR2130 1,769,587 Mist Revenue, Other Go~s 1,013 SR2389 1,013 interest And Earnings 16,147 ~R2~01 46,521 Permits, Other 192,849 SR2590 160,765 Sales of Scrap & Excess Materials Insurance Recoveries Refunds of Prior Year's Expenditures 62,436 SR2650 100,581 1,360 SR2680 0 SR2701 74,543 Page 63 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SR) REFUSE AND GARBAGE Results of Operation Detail Expenditures And Other Uses Refuse & Garbage, Pets Serv Refuse & Garbage, Equip & Cap Outlay Refuse & Garbage, Contr Expend 803,228 SR81601 851,411 71,088 SR81602 68,856 1,879,328 SR81604 1,864,299 State Retirement, Empl Bnffs 77,372 SR90108 107,806 Social Security, Empl Bnfts 61,448 SR90308 65,133 Worker's Compensation, Empl Bnfts 37,829 SR90408 34,418 Disability Insurance, Empl Bnfls 15,215 SR90558 26,513 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes SR97106 220,000 479,000 SR97306 352,790 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Nates SR97107 50,003 80,253 SR97307 41,067 Transfers, Other Funds 300,084 SR99019 239,751 Page 64 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 616,470 SR8021 85t,717 616,470 SR8022 861,717 4,040,093 4,043,758 3,804,845 3,922,048 851,717 SR8029 973,427 Page 65 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SS) SEWER Balance Sheet Cash In Time Deposits Sewer Rents Receivable 74,923 SS201 207,486 Due From Other Funds 28,307 SS391 5,077 TO ~$~.. ..... .. ,,~,~ .-,.....~.~,~.. ....... ,. ~,.0.. . ,.;i~'~. t,.:...~,.... '~ ~,,.,?.~,,~ ~,.~. ~.. Page 66 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SS) SEWER Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds Page 67 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 132,702 SS1001 137,450 2,260 SS1030 1,614 17 SS1081 0 SS1091 98 Sewer Charges 80,095 SS2122 43,653 Interest And Earnings 3,427 SS2401 7,856 Insurance Recoveries 3,976 SS2680 Refunds of Prior Years Expenditures SS2701 4,621 Page 68 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (ss) SEWER Results of Operation Detail Expenditures And Other Uses Sewage Treat Disp, Pers Serv 53,349 SS81301 Sewage Treat Disp, Contr Expend 153,418 SS81304 31,442 State Retirement, Empl Bnffs Social Security, Empl Bnlts Worker's Compensation, Empl Bnffs Disability Insurance, Empl Bnfts 4,197 SS90108 3,952 SS90308 129 2,700 SS90408 82 960 SS90558 Debt Principal, Serial Bonds 2,000 SS97106 2,250 Debt Interest, Serial Bonds 850 SS97107 225 Transfers, Other Funds Page 69 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (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 60,591 SS8021 48,039 60,691 SS8022 48,039 222,477 195,292 235,028 34,129 48,039 SS8029 209,203 Page 70 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SS) SEWER Budget Summar7 Estimated Revenues And Other Sources Est Rev - Real Property Taxes SS1049N 22,790 Est Rev - Departmental Income SS1299N 27,700 Est Rev - Use of Money And Property SS2499N 4,000 Appropriated Fund Balance SS599N 77,300 Tby~;~.;~~~.· .","'~'~'.,~r:~,':',=.,-:.'..." . ~ ~.~ .~.... '...--~,~.. Page 71 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (SS) SEWER Budget Summary Appropriations And Other Uses App - General Government Support App - Home And Community Services App - Debt Service ToT~'APPmP~rl.a.~.°.f~q.... ,~ .'... i..,~... ;, ..~. :.," .' ~ ':... ~ ";...i,;..;:'i"i-';: ~::!::.::'.'.i!:' .~' ',';"'. :" "" ':' ':?' ;:~::' .0 . T~'T*"'~'~'~'''''~'~-'<i~4'~''£''`'''-'~'-'v .,,,~.~ppr~,.~&~,)ia'~,o~r~leru.gs ..... ' ":""" '"' SS1999N 5,000 SS8999N 124,350 SS9899N 2,440 · ..,...~. =. :,~..:;!.:i' ~/,"~ ..-~,-,-~,,,,..,~!~'~';~ Page 72 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (TA) AGENCY Balance Sheet Assets Cash Time Deposits Due From Other Funds 420,134 TA200 13,789,303 989,252 TA201 1,152,968 4,248 TA891 7,044 Other Assets 34,001 TA489 40,655 ....... ' ..... ~'" ....... '""' ~"-' " .. ~,~.~ .~.,:' .,.,.., ..,~?..-.~~'~ :~-~;~ ....... ~o~ '.~,~ ...~.: .::~,:~.~'.:" ": ....... i.~.',.;'L/',".',i ..... ~"~'"' ?.":~..:'.-~L-:' ............ '~'"'"' ', :.. '~"'".?,!,~:.,i:' .: .................... ... .... ! -?~.~:? ',?, ....... Page 73 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (TA) AGENCY Balance Sheet Liabilities And Fund Equity Due To Other Funds 603,744 TA630 556,798 Due To Other Governments TA631 13,340,179 State Retirement Group Insurance Income Executions Assoc & Union Dues Guaranty & Bid Deposits Bail Deposits -4 TA18 277 TA20 68 TA23 68 TA24 8,813 706,563 TA30 925,151 136,988 TA35 158,961 Page 74 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (V) DEBT SERVICE Balance Sheet Assets Misc Current Assets V489 -,.,~,-~-~-,.~ · · · ............ ~ .~.~ ~£..,-,~ ~ .... ~. ~ · ............... ., .........:,'.~.~-~'...,~.~;~,,,. ~, .,r~,w~ TOTA!;~;...,~,~C.~.,~'-.~.~.:" · ''" ' '" ~.~."~ .- '.?,'~-':?.~"'~".~.,.-...~,~.~...... .,: ". ~". · · 0 ....... " '~'?-' "0' Page 75 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (V) DEBT SERVICE Balance Sheet Liabilities And Fund Equity Other Liabilities TOTAL Othe~'L ibl.~.".':!~ ~!?.4~i;~; .'.:.:,.;. ' · :'..'i' :' .". ":'" ".'~': '~:.~.::..~'..~:-~?~.~l'~i:':-..'~.,.,.",--.' ' .)'!:'::,i' ~. !,.. ~-~%L'-',r" ".' ' ' ....... ' Unreserved Fund Balance Unappropriated Page 76 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (V) DEBT SERVICE Results of Operation Detail Revenues And Other Sources Advanced Refunding Bonds V5791 2,380,000 Page 77 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (V) DEBT SERVICE Results of Operation Detail Expenditures And Other Uses Fiscal Agents Fees, Contr Expend V13804 170,000 ~O~A~I~:,,~ · ' '-.' "!:i:~,'~',r':"~!~,~.,..· "'~ :~'~?'~.,,~.~, T~y~G~i.~ '~.~:'., ~.:: .. · .:. ",~'-!~:, ~:,:,:~',:,~~:~;:~;: ?.."0 "- ~:'~ ~",' ?.'':.:.''~ ..... Page 78 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (V) DEBT SERVICE 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 V8021 V8022 V8029 2,380,000 2,380,000 Page 79 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 WV) NON-CURRENT GOV LIABILITY Balance Sheet Total Non-Current Govt Liabilities 16,565,086 w129 TOTAl. prevl~ion To Be Made In Future' Budgets · ..' ~ .~.~ - .~,,,..~,,L~ ~: .,. ,~,~,~ ,~L',~.,~.,'J~ ..... ~.,... TOTALAa~ ' ' ' '"'" '"' ' .,.,. .... ,~ .... ~;~'~i,. ~ ...... ~-,, ~1~r~$088 · :~.""~"~ 18,298,924 Page 80 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2005 (W) NON-CURRENT GOV LIABILITY Balance Sheet Liabilities And Fund Equity Judgments And Claims Payable 598,630 W686 220,000 Compensated Absences 5,662,358 W687 5,779,826 Bonds Payable 10,304,098 W628 12,299,098 Page 81 OSC Municipality Code 470379000000 TOWN OF Southold Financial Comments For the Fiscal Year Ending 2005 Page 82 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2002000002 iMonth and Year of Issue ?urpose of Issue Current Interest Rate iOutstanding 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 nal 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) _Outstanding End of the Fiscal Year EDPCODE]! Amoun~ :' 8/30/2001] ' pickett landf!ll closur~ / ......... .0306~ 2P18761 794,8661 2P18763 0I 2 P 18765 0 ~P18767 794,866 8/30/2004 EDPCODE V :: Amount 9/12/2003 New London Terminal .0275 2P18761 2,450,000 2P18763 0 ............ 2P1~7~5 V 725,00~ 2P18767 I! 1,725,000 Final Maturity Date Bond Anticipation Note No. 2004000002 Month and Year of Issue Purpose of Issue C~rrent Interest Rate Outstandin9 Beginning of Year Issued During the Fiscal Year (do not include renewals here) [~!d During the Fiscal Year L (do not include renewals here) FOiUtstanding End of the Fiscal Year nal Maturity Date LBond ,Anticipation ~ot~ NO. 200i000005 Month and Year of Issue iPurpose of Issu~ ICurrent Interest Rate Outstanding Beginning of Year ilssued During the Fiscal Year ! (do not include renewals here) iF'~id During the Fiscal Year : (do not include renewals here) !Outstanding End of the Fiscal Year ?in_.a=l. Maturity Date ' _ 9/12/2006 EDPCODI Amount gl10/2004 .......... J ii Landfill Equipmen( ~ .03051 2P18761 i 1,051,600 2P18763 ...... ~ 2P18765 ~ 461,6001 2P18767 590,000! 9/10/2009j EDPCODE: Amount~ ' 9/14/2001/ Police Patrol Vesse! ii .0305~ 32,0001 2P18761 2P18763 2P18765 2P18767 18,000 14,000 9/13/2006 Page 83 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit 3ond Anticipation Note No. 2005000002 I~DPCODE'/__ Vlonth and Year of Issue ~urpose oflssue 3urrent Interest Rate 3utstanding Beginning of Year ssued During the Fiscal Year (do not include renewals here) ~aid During the Fiscal Year Amoun~ 4/22/2005~ !ffer .S:tati_ o.n Ex~pansio.~ ~1 .0264! 2P18761 !1 ~2P18763 3,250,000i (do not include renewals here) 3utstanding End of the Fiscal Year :inal Maturity Date P18767 3,250,00 4/22/201(~ 3ond Anticipation Note No. 2001000002 Vlonth and Year of Issue 5~u_r~ose of Issue ~urrent Interest Rate Outstanding Beginning of Year ssued During the Fiscal Year (do not include renewals here) ~a~iid Dur].ng the Fiscal Year (do not include renewals here) 3utstanding End of the Fiscal Year :inal Maturity Date 3ond Anticipation Note No. 2003000006 Vlonth and Year of Issue 3ur.pose of Issue ~oUrrent Interest Rate utstanding Beginning of Year ssued During the Fiscal Year (do not include renewals here) =aid During the Fiscal Year (do not include renewals here) ::)utstanding End of the Fiscal Year =inal Maturity Date Bond Anticipation Note No. 2003000005 Vlonth and Year of Issue ~urpose of Issue ;urrent Interest Rate ;:)utstanding Beginning of Year ssued During the Fiscal Year (do not include renewals here) --DP~D~[- Amoun~ 5/11/2001[ ~)own's Farm Preserv~ ZP18761 42,0001 ~P18765 Ii ~P187~7 , 5/10/200-~ I -ZDPCODEI[ Amoun( 9/12/2003~ ~ HRC Improveme~ ~.P18761 140,000t ~P18763 ~ ~.P18767 b J ~DP~ODEI Amou~ JL~ 9/12/_20~03] ! M an agem en.~.te~m~m ZP18761 50,00~ ~P18763 ~ Paid During the Fiscal Year ~ ¢ --(do not include r'~a~here) :~P18765 _!E 15,000~ Dutstanding End of the Fiscal Year -- ~J2.P18767 -;[ ~ ',Final Uatu-ri'tv Dat'e-~ ..... /~" --~ ~I 9=_/1~2/20~08 Page 84 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit ~0n~l Anticipation Note No. 2001000001 onth and Year of Issue urpose of Issue Current Interest Rate IOutstanding Beginning of Year Ilssued During the Fiscal Year ; (do not include renewals here) iPaid During the Fiscal Year ~o(dO not include renewals here) utstanding End of the Fiscal Year iFinal Maturity Date IEDPCODE Amount ?' 5/11/2001 ceive~r Comp~u_ter Pro! __ .026~4 ~2P187611 81,000 2P18763 2P18765 49,00~ 32,00~ 2P18767 5/10/2006I ~Boncl Anticipation Note No. 2003000003 iMonth and Year of Issue [~Purpose of Issue u~t in--Rate ~Outstanding Beginning of Year Issued During the Fiscal Year (do not nclude renewa s here) [Paid Durin~q~.e Fiscal Year i (~:~ includ~ re~eew~here) ~Outstanding End of the Fiscal Year Final Maturity Date =DPCODE ~P18761 ~P18763 ~P18765 2P18767 Amount~ 9/12/2003 St[awb~ .03051 160,001' 9/12/2008 iBond Anticipation Note No. 2004000003 IMonth and Year of Issue IPu~pose of Issue ,Current Interest Rate [Outstanding Beginning of Year Ilssued During the Fiscal Year , (do not include renewals here) lPaid During the Fiscal Year ! (~ not include ren~ewawal~' here) LOutstanding End of the Fiscal Year Final Maturity Date iBond~Anticipafion Noie: No72001~00003 EDPCODETM Amo~ 9/10~2004 Town Hall Annex II .0305 2P18761 150,00¢ 2P18763 2P18765 __ 40,00C 2P18767 ~ 110,00C J[ 9/10/200~c EDPCODE :' Amobnt~ [Month and Year of Issue Ip~ur. rpose of Issue ,Current Interest Rate IOutstanding Beginning of Year 2P18761 !Issued During the Fiscal Year I (do not include renewals here) paid Duri~scal Year (do not =nclude renewals here) 9/14/2001j Rich Park Phase~J~ .0305J ?Outstanding End of the Fiscal Year F~nal Mat=u~ Date 112,000 2P18763 ; 2P18765 2P18767 56,00~ 56,000I ~/13/2006'; Page 85 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 indebtedness Not Exempt From Constitutional Debt Limit =~ond Anticipation Note No. 200100000~ ..... 'ED-PCO-DE~~ Vlonth and Year of Issue 3urpose of Issue 3urrent Interest Rate Outstanding Beginning of Year ssued During the Fiscal Year (do not include renewals here) 3aid Durin=~ the Fiscal Year 2P18761 I2P18763 (do not include renewals here) Outstanding End of the Fiscal Year :inal Maturit.~ Date 2P18765 2P18767 Amoun~ 9/14/200~ ~Watermain Extension .0305 125,oo~ 66,000 59,000 9/13/20061 ~ond Anticipation Note No. 2003000004 Vlonth and Year of Issue =ur.~pose of issue 3urrent Interest Rate Outstanding Beginning of Year Ilssued During the Fiscal Year (do not include renewals here) Paid Dudn~q the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year ~mal Ma~ Date L ELEDPCODE~ Amounl ~ 9/12/200~ Ii Highway E~ i Il--- - .03d~ ~P18761 ~-- 320,00~ Ii I 2P18763 I ~ 2P18765 80,000, 9/12/200~ E~o-n~nticipation Note No. 2004000001 -- -- E~PC~D~I~__ - ~mo~n~ Vlonth and Year of issue P~u?ose of Issue 3urrent 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) Outstanding End of the Fiscal Year Final Maturity Date E]ond Anticipation Note No. 2005000001 Vlonth and Year of Issue Purpose of Issue 3urrent Interest Rate Outstanding Beginning of Year Issued During the Fiscal Year (do not include renewals here) Ipaid Durin9 the Fiscal Year (do not include renewals here) '~Outstanding End of the Fiscal Year IFinal Maturity Date I~ 4/23/2004 le~-~per/~ ~o ~P18761 ~P18763 2P18761 ~P18763 640,00~ II ~P18765 I 2P18767 640,~)0-~ ii 4/22/2010J Page 86 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit MOnd Anticipation Note No. 2003000002 =__. -- onth and Year of Issue Purpose of Issue LCurrent Interest Rate Outstanding Beginning of Year !Issued During the Fiscal Year ~(do not include renewals here) aid During the Fiscal Year ? (do not include renewals here) ,Outstanding End of the Fiscal Year IFinal Maturity Date IBond Anticipation Note No. 2001000006 iMonth and Year of Issue purpose of Issue Current Interest Rate ;Outstanding Beginning of Year Ilssued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year I_ (do not include renewals here) IOutstanding End of the Fiscal Year IFinal Maturity Date -- ;Bond Anticipation Note No. 2002000001 IMonth and Year of Issue PLPurpose of Issue Current Interest Rate Outstanding Beginning of Year Issued During the Fiscal Year (do not include renewals here) IPaid Durin~q the Fiscal Year (do not include renewals here) IOutstanding End of the Fiscal Year Final Maturity Date IBond Anticipation Note No. 2004000005 IMonth and Year of Issue ~DPCODEII A~o-,n~ ~_,rushes Creek Bridge .030~ 225,0001 2P18763~ 2P18765 ~P18767 225,00( 9/12/200; EDPCODE!~ A~oun 9/14/200' ew London Termina .024; ~P18763~P18761 i~ 525,000m ~P18765 ~P18767 525,000 9/13/200! ~PCODEil A~oun~ 9/13/200~ ~rushes Creek Br~_ ~030~] ]P18761 395,000 ~P18763 11 ~_P18765 372,000' .~P18767 II 23,000 --iL 9/12/2007 Amount 6/10/2004 Ipurpose of Issue ,Current Interest Rate iOutstanding Beginning of Year Ilssued During the Fiscal Year (do not include renewals here) ,'l~aid During the Fiscal Year ~ ~ not i n(~iu=d~h ere) IOutstanding End of the Fiscal Year IFinal Maturity Date !New London Terminal .0117 1,000,000 ~P18763 ~_P18765 1,000,000 Page 87 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit BlBond Anticipation Note No. 2004000006 ~onth and Year of Issue purpose of Issue !Current Interest Rate Dutstanding Beginning of Year ssued During the Fiscal Year (do not include renewals here) =aid During the Fiscal Year (do not include renewals here) Dutstanding End of the Fiscal Year Final Maturity Date ~Bond Anticipation Note No. 2001000007 onth and Year of Issue ~rpose of Issue Current Interest Rate Ioutstanding Beginning of Year Ilssued During the Fiscal Year (do not include renewals here) aid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year nal Maturity Date Bond Anticipation Note No,~004000007 Month and Year of ssue !P~urpose of Issue Current Interest Rate utstanding Beginning of Year sued During the Fiscal Year ~ (do not include renewals here) [paid During the Fiscal Year J (do not include renewals here) Amoun~ 8/27/2004J 'ickett Landfill Closure~ 22,6981 22,698j 01 8/30/20211 EDPCODE 2P18761 '2P18763 2P18765 2P18767 EDPCODE ' Amoun! 4/27/2001, ---~-~ '-j~g Land Developm~en~ .0264 -2 P 1-~i' Jl 2,400,000' 2P18763 119,004 '2P18765 ZP18767 -SPCOD 2P18761 2P18763 2P18765 II 2,281,00~ 4/27/200~ Amounl~ 12/21/20041 New London TerminalJ 750~ - 750,001 Outstanding End of the Fiscal Year. Fina Matur ty Date ~Bond Anticipation Note No. 2003000008 onth and Year of Issue !Purpose of Issue Current Interest Rate IOutstanding Beginning of Year Ilssued During the Fiscal Year I (do not include renewals here) Raid During the Fiscal Year ! '~(do not include renewals here) utstanding End of the Fiscal Year hal Maturity Date 8767 ED CO0 2P18761 2P18763 ~P18765 2P18767 6/10/2005~ -- Amou ~t 4/25/2003~ Compost La_n~ 629,00C 629,00~ 4/27/200~ Page 88 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit ~ond Anticipation Note No. 2003000009 EDPCODE'~ Amount IMonth 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) IOutstanding End of the Fiscal Year IFinal Maturity Date 4/25/2003' IGrffing St. Parking .0264 2P18761 184,000 2P18~63 d 2P18765 " 46,00d! .~P18767 !~ 138,0001 4/25/200~ 'Bond Anticipation Note No. 2003000010 Month and Year of Issue iPurpose of Issue ~rrent Interest Rate ~utstanding Beginning of Year :Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year L (do not include renewals here) ©utstanding End of the Fiscal Year IFinal Maturity Date ZP18761 2P18763 ~P18767 ~DP~ODF] Amoun~ __ 6130120041 ;)ickett Landfill Closur~ .0306 352,436' 27,302 325,134! ~Bon~nticipation Note No. 2000000022 Month and Year of Issue ,Purpose of Issue - ICurrent Interest Rate IOutstanding Beginning of Year Ilssued During the Fiscal Year (do not include renewals here) LPaid During the Fiscal Year (do not include renewals here) utstanding End of the Fiscal Year inal Maturity Date I - 8~30~2004 ~DPCODE Am(~un~ 5/12/2000I Rich Park Phas.e 2~ ~2P1876'1 ii 55,000 2P18763 ~0 2P18765 55,~ 2P18767 ~ 0 5/12/2001 B~n~Anticipation Note No. 2000000023 ,Month and Year of Issue IPurpose of Issue ~urrent Interest Rate ]Outstanding Beginning of Ye~;'~: Ilssued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year ! (do not include renewals here) IOutstanding End of the Fiscal Year IFinal Maturity Date 5/12/200~ Salt Sto~age B~ddin9 .0449 ~_ 18,000 ZP18763 [~ -~P18765 1~ )-P18767 ;i 5/1/200t ~L Page 89 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2000000028 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 nal Maturity Date tEDPCODE Amount 9/15/2000 ~~ _!i Computer Upgrade i .0439 53,000 0 2P18765 53,00Q 2P18767 9/15/2001! Bond Anticipation Note No. 2000000029 /EDPCODEII Month and Year of Issue Purpose of Issue Current Interest Rai~- ...................................... Outstanding Beginning of Year ~.P18761 ssued During the Fiscal Year (do not include renewals here) 2P18763 :Paid During the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year 2P18767 Final Maturity Date Amount: 9/15/2000i Payloade~ .0439 38,000 38,000 0 9/15/2001 ~ond Anticipation Note No. 2004000004 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) Outstanding End of the Fisca Year IFinal Maturity Date EDPCODE Amount 9/10/2004 !! Police Car Camerasl .0305! 2P18761 160,000 2P18763 ~P18765 ~P18767 32,000 128,000 9/10/2009 ~otal Bond Anticipation Note :Outstanding Beginnin~q of Year IIssued During Fiscal Year aid During Fiscal Year utstanding End of Year ~'_ Bond Anticipation Notes Redeeme~ [~ From Bond Proceeds During FiscalYear 12P18885 _ .... A~oun~ 12,625,60~ 3,890,00~ 4,795,600 11,720,000 3,666,6061 Page 90 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit B~nd N'o, 2004000009 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Issued During the Fiscal Year i (do not include renewals here) paid During the Fiscal Year : (do not include renewals here) ;Outstanding End of the Fiscal Year iFinal Maturity Date Bond No. 2004000008 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 rene~vals here) Outstanding End of the Fiscal Year ~:inal Maturity Date 2P18771 -2P18773 2~18775 2P18777 Amount 9/15/2004 Mattituck Park District .0314 240,000~ 4o;~b~l 200,000J 9/15/2009J 'FDPCODE Amount ~..= 7/22/2004 j~ogu.e~ L. andfill Closure ......... 71 1.2OLO 2P18771 II 3,789,098 2P18773 ~ -- ~ 2P18775 220,000 2P18777 3,569,098 2/15/2018 Bond No. 20000~0007 .... EDPCODE Amount Month and Year of Issue 5/1/1999 P. urpose of Issue t ~ ;n Space Preservation Current Interest Rate ~ 4.7000 Outstanding Beginning of Year __ 2P18771 1,500,00~0 :Issued During the Fiscal Year } __ (do not include renewals here) 2P18773 _.ii 0 JPaid During the Fiscal Year _ J[ (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date Bond No. 2000000006 EDPCODEjr_ Month and Year of Issue ..... Purpose of Issue Current Interest Rate ~)utstanding Beginning of Year Issued During the Fiscal Year [ (do not include renewals here) IPaid During t.he Fiscal Year .... ~ (do not include renewals here) iOutstanding End of the Fiscal Year ~Final Maturity Date 2P18775 ~ 80,000~ 2P18777 1,420,000J ~- 5/1/201~ Amoun~ 5/1/1998 ~ral Land Preservation: ~ 4.850d 2P18771 1,500,000 2P18773 0 P18775 90,000 2P18777 1,410,000 5/18/2018 Page 91 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2000000005 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) !Outstanding End of the Fiscal Year !Final Maturity Date [Bond ~o.'~000000004 JMonth and Year of Issue JPurpose of Issue JCurrent Interest Rate JOutstanding Beginning of Year llssued During the Fiscal Year (do not include renewals here) ?aid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date rBond No. 2005000004 !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 I (do not include renewals here) Outstanding End of the Fiscal Year inal Maturity Date [Bond ~0. 2~000000003 IMonth and Year of Issue IPurpose of Issue ICurrent Interest Rate IOutstanding Beginning of Year llssued During the Fiscal Year I (do not include renewals here) ~P_a.]id During the Fiscal Year I (do not include renewals here) ~Outstanding End of the Fiscal Year IFinal Maturity Date ~EDPCODE!! Amouni . 11/1/1995! ~ral Land PreservationI 5.1000I 2P18771 1,110,0001 2P18773 0 2P18775 1,110,000 2P18777 0 11/1/2015 IEDPCODE ] ~ 10/1/1993 :,~ Pension Systeml I 6.0000 2P18771 70,000 2P18773 0 2P18775 r ..... 70,000 2P18777 0, 10/1/20051 1EDPCODE 2 P 18771 '~P18773~' 2/8/2005I ~.~.n~ing Serial Bond~ 2,5000 2,380,0001 :~P18775 2P18777 280,000I 2,100,000I 2/15/201~ EDPCODEI! 2P18771 Amount 4/15/1992 Various 5.000C 1,100,00(: 2P18773 2P18775 ~ 1,100,00[ 2P18777 ( 2/15/201~ Page 92 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2005000003 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year ilssued During the Fiscal Year (do not include renewals here) IPaid During the Fiscal Year (do not include renewals here) IOutstanding End of the Fiscal Year EDPCODE!! Amoun~ ~: 3/1/20051 · ~iNew London Termina¢l .0375 2P18771 2P18773 2P18775 2P18777 3,000,000 150,00q 2,850,000 Final Maturity Date __ 9/1/2021 Bond No. 2000000002 ...... EUPC~bE Amounl Month and Year of Issue 2/15/1991 ?urpose of Issue ..... ........... Various Current Interest Rate 6.375(; Outstanding Beginning of Year 2P1877~-" 700,00(; Issued During the Fiscal Year (do not nc ude renewals here) 2P18773 ;Paid During the Fis..._cal Year ..... (do not include renewals here) ~PI~'7Y~- = ;Outstanding End of the Fiscal Year 2P18777 Final Maturity Date ~nd No. 200000001~ _ EDPCODEI Amount JMonth and Year of Issue 2/15/1996~ Purpose of Issue FI Landfill Closure Current Interest Rate _ J 3.9000 Outstanding Beginning of Year .2_P18771 165,00~0 Issued During the Fiscal Year (do not include renewals here) 2P18773 0 ?aid During the Fis_c_a_l_Year == . (do not include renewals here) ~'1~'775 :" 15,000 Outstanding End of the Fiscal Year ~ 150,000 :~Final Maturity Date ~- I; 12/15/2014 100,~ 600,00(; 2/15/2011! Page 93 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2005 Indebtedness Not Exempt From Constitutional Debt Limit 'Bond No. 2000000001 :Month and Year of Issue rpurpose 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) Outstanding End of the Fiscal Year Final Maturity Date EDPCODE 2P18771 2P18773 2P18775 2P18777 Amoun~ 10/1/1984~ Variousi 9.1000 130,00d 130,000 0 4/1/200,5 ~otal Bond ......... Amount putstanding Beginning of Year 10,304,098 ~sued During Fiscal Year ........... _5~,_3.80.~,.00~0 Paid During Fiscal Year 3,385,000 Outstanding End of Year 12,299,098 Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond 'Outstanding Beginnin~ of Year I Issued During Fiscal Y_e.a[ , -~1 Outs~nd!n~ End of Year -- F Amouni 22,929,695 9,270,00:0 8,180,600 24,019,098 Page 94 OSC Municipality Code 470379000000 TOWN OF Southold Maturity Schedule For the Fiscal Year Ending 2005 For Bonds Issued During The Fiscal Year Ended 2005 In dne -- I EDPCODE- : debte ss No. . IPurpose of issue IFor State Comptroller Use Only '2P3cE ~Total Principal 2P3PR IDate of Issue 2P3DT ;interest Rate 2P3PC 2005000003 FIFD New London Terminal 3,000,00C 3/1/2005J .0375d IFinal Maturity Date ~2P3DM 9/1/2021i Dmount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last TwoI igits of the EDP Code Correspond to the Fiscal Year Ended) ~ ~2P306 150,00~ ~P307 ~ ........_ 15~0,000 150,000j '~5o,oooJ - ;i 75,ooq 175,0001 ~P309 175,00~ ~P315 175,~ ~P316 ~ : 200,000' 21212~7 I __ , 2oo,oool ~318 ~[ 200,00~ ~3~ ~[ 200,00~ ~P~320 II -- ~0~ ~P321 _1 : = 2o~o,oooi Page 95 OSC Municipality 470379000000 TOWN OF Southold Maturity Schedule For the Fiscal Year Ending 2006 For Bonds Issued During The Fiscal Year Ended 2005 Ilndebtedness No. IPurpose of Issue !For State Comptroller Use Only Total Principal :Date of Issue Interest Rate EDPCODEl ~005000004 Refunding SerialBonds 2P3CE 2P3PR 2P3DT 2P3PC 2,380,000 21812005I 2.50000I 2/15/20151 Final Maturity Date ~.P3DM Amount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last Two ! Digits of the EDP Code Correspond to the Fiscal Year Ended) , -- ~P306 ~ ......... _ 245,00d 2P307 ..... 240,000, ~2P308 ~ 245,000 ~2._P_~309_l 265,000j 12P310 [ 260,0001 12P312 2P313 ....... ~6o,oool II 11o,oo 11 ...... 11o,ooo 11o,ooo: DP314 ~P315 Page96 OSC Municipality470379000000 TOWN OF Southold Schedule of Securities for Collateralization For the Fiscal Year Ending 2005 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 response box next to the type(s) of securities used by banks as collateral 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 97 OSC Municipality Code 470379000000 TOWN OF Southold Schedule of Time Deposits and Investments For the Fiscal Year Ending 2005 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 Amount 9Z2001 $2,410.00 9Z2011 $!8,857,309.00 9Z2021 $18,301,499:.00 $37,161,218.00 9Z2014 $1,100,000.00 9Z2014A $59,311,670.00 $60,411,670.00 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 98 OSC Municipality Code 470379000000 TOWN OF Southold Investment Certification For the Fiscal Year Ending 2005 DEFINITIONS: Repurchase Agreement - A generic term for an agreement in which a government entity (buyer-lender) transfers cash to a broker-dealer or 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 ro 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 policy? Name: John Cushman Title: Town Comptroller Phone Number: (631) 7~65-4333~ Page 99 ~)SC Municipality Code 470379000000 TOWN OF Southold Bank Reconciliation For the Fiscal Year Ending 2005 Include All Checking, Savings and C.D. Accounts Bank Account Number Bank Balance Add: Less: Adjusted Deposit Outstanding Bank In Transit Checks Balance Page 100 TOWN OF Southold Local Government Questionnaire For the Fiscal Year Ending 2005 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 volunteer fireflghters? 6) Does your municipality have a Capital Plan? 7) Has your municipality prepared and documented a risk assessment plan? If yes, has your 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 last year? 9) Does your municipality have access to the internet? 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 Yes Yes No Yes scott.russell@town.southold.ny.us Yes southoldtown.northfork.net Page 101 OSC Municipality Code 470379000000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Scott A. Russell , 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 12/31/2005 , 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 o~f Sou~thold _ , 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 12/31/2005 and filed by means of electronic data transmission. John Cushman Name of Report Preparer if different than Chief Fiscal Officer Scoff A. Russell Name (6~ 765-4~333 _ _ Telephone Number 03/15/2006~ __ __ Date of Certification Suj3ervi~or __ _ Title PO Box 1179, Southold, NY 11971 Official Address (6~765-4333 Official Telephone Number Page 102 Municipality Code 470379000000 TOWN OF Southold Supplemental Section Comments For the Fiscal Year Ending 2005 Page 103 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2005 A. Summary of Sil:lnificant Accountin.q 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. t. Financial ReDortin~ Entitv 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, 2005 A. Summa~ of Si.clnificant Accountinq Policies (continued) 1. Financial Rel~ortin~l Entitv (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 Orient, NY 11957 Fishers Island Garbage & Refuse District Fishers Island, NY 06390 Cutchogue-New Suffolk Park District P.O. Box 311 Cutchogue, NY 11935 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.q 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 31,2005 A. Summary of Si~lnificant Accounting Policies (continued) 2. Fund Accountinq (continued) Fund Cate~lories 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: Hicihwav 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). Fiduciarv Funds - used to account for assets held by the local government in a trustee or custodial capacity: Trust and Aclencv 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. Account Grou~s 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 31,2005 A. Summary of Siclnificant AccountinQ Policies (continued) Account Groul~s (continued) The General Fixed Assets Account Group o 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 Lonci-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 Accounting/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 31,2005 A. Summary of SiQnificant AccountinQ 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 ECluitv 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 Sul~l~lies 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 31,2005 A. Summary of Skmiflcant Accountin~l Policies (continued) 5. Assets, Liabilities and Fund E~luitv (continued) Lonq-Term Obli.clations 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 ECluitv- Reservations and Desiflnations Portions of fund equity are segregated for future use and therefore not available for future appropriation or expenditure. Amounts reserved for encumbrances, inventory, and 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 Exl)enditures Property 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, 2005 A. Summary of Significant Accounting Policies (continued) 6. Revenue and Expenditures (continued) Inta~und 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 benefits of the service or facilities are reflected as an expenditure of that fund. Operating 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. Insumnce 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, 2005 B. Stewardship, Compliance, Accountability Bud~letary Data 1. Budc~et Basis of Accountinc~ 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. Bud~let Policies - The budget policies are as follows: a. No later than October l, 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 31,2005 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, 2005 is allocated as follows: General Fund (Town wide) Special Revenue Funds General Fund Part Town 888,059 Highway Fund -- Town wide 31,922 Highway Fund -- Part Town 1,024,926 Special District Funds East-West Fire Protection 15,112 Southold Wastewater Disposal 176,657 Fishers Island Sewer 32,546 Solid Waste Management 334,475 Discretely Presented Component Units Fishers Island Refuse & Garbage 638,952 Fishers Island Ferry 431,770 Cutchogue-New Suffolk Park 125,728 Southold Park 19,279 Orient-East Marion Park (6,261) Mattituck Park 172,290 Orient Mosquito 32,385 Total $9,925,302 $ 6,007,462 The fund Deficit Fund Balances The capital projects fund and the Orient-East Marion Park District had a deficit fund balance at December 31, 2005. 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 year's 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, 2005 C. Detail Notes on all Funds and Account Groul~s (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, 2005 the cash in banks was $37,158,808 and collateral held against cash in banks was $60,411,670 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 31,2005 C. Detail Notes on all Funds and Account Grour~s (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, 2005 is as follows: Primary Government: Land Buildings & Improvements Other Improvements Construction in Progress Infrastructure Machinery & Equipment Total Balance Balance 01/01/2005 Additions Deletions 12/31/2005 $37,795,086 $9,977,190 4,569,294 5,218 13,469,137 29,818 398,912 1,362,656 69,334,186 704,338 8,686,593 1,125,955 $134,253,208 $13,205,175 $153,487 289,733 $443,2_20 $47,772,276 4,574,512 13,498,955 1,608,081 70,038,524 9,522,815 $147,015,163 Component Units: Land Buildings & Improvements Other Improvements Construction in Progress Infrastructure Machinery & Equipment Total Balance 01/01/2005 Additions $2,213,755 3,416,944 $123,167 2,575,590 10,592,269 2,598,828 2,121,386 17,000 3,170,695 30,033 $24,090,639 $2,769,028 Deletions $16,440 0 [16,440 Balance 12/31/2005 $2,213,755 3,540,111 2,575,590 13,174,657 2,138,386 3,200,728 $26,843,227 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 Part Town East-West Fire Protection District Solid Waste Management District Wastewater Disposal District Fishers Island Sewer District Capital Projects Trust & Agency Total Interfund government at December 31, 2005 Intedund Receivables $ 176,390 152,519 828,984 92,199 483,244 4,752 325 251,100 7,044 $ 1,996,557 Intedund Payables $1,895,217 6,974 20,700 73,599 67 $1,996,557 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2005 C. Detail Notes on all Funds and Account Groul~s (continued) 4. Due To/From Primary Government and Component Units Amount Amount Receivable Payable Component Units: Fishers Island Refuse & Garbage District $ 113,426 Fishers Island Ferry District 294,903 Orient Mosquito District 15,355 Cutchogue-New Suffolk Park District 28,382 Southold Park District 63,406 Orient-East Marion Park District 5,559 Mattituck Park District 85,771 Primary Government General Fund Capital 517,902 Trust and Agency 392,414 175,559 556,731 Totals $ 1,124,704 $ 1.124,704 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. Description Various Purposes Various Purposes New London Wharf Pickett Landfill Closure Total To Be Redeemed 2006 Interest Budget Amount Rate Appropriations Bonds $ 7,175,000 2.640% $ 525,000 $ 6,650,000 1,700,000 3.050% 712,000 988,000 1,725,000 2.750% 1,725,000 1,120,000 1.450% 50,000 1,070,000 $ 11,720,000 $ 1,287,000 $10,433,000 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2005 C. Detail Notes on all Funds and Account Groul~s (continued) 5. Indebtedness (continued) Lona-Term Debt a) At December 31, 2005 the total outstanding indebtedness of the Town, excluding the above obligations aggregated $12,299,098. Of this amount, $9,924,358 was subject to the constitutional debt limit and, combined with the short-term debt listed above, represented 2.15% 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 LoncI-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 Lona-Term Debt - The following is a summary of long-term liabilities outstanding at December 31, 2004 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 9,099,098 $ 3,200,000 $ 12,299,098 220,000 220,000 5,779,826 5,779,826 Total Long-Term [)ebt Account Group $ 15,098,924 $ 3.200.000 $ 18,298,924 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2005 C. Detail Notes on all Funds and Account Groul~s (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, 2004: Bonds and Compensated Notes Absences Payable at beginning of Year $ 10,304,098 $ 5,662,358 Additions 5,380,000 117,468 Deletions 3,385,000 Payable at end of Year $ 12,299,098 $ 5,779.826 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 31,2005: Year Endinq Principal Interest 2006 $ 950,000 $ 405,624 2007 979,098 376,466 2008 995,000 345,307 2009 1,025,000 312,347 2010 1,000,000 277,956 2011-2015 4,390,000 910,394 2016-2020 2,760,000 257,814 2021 200,000 8,000 Totals $12,299,098 $2,893,908 g) Advance Refundin¢l of Bonds - During February 2005, the Town issued $2,380,000 in general obligation bonds with an interest rate ranging from 2.50% to 3.25% to advance refund $1,100,000 of outstanding 1993 Various Purposes Serial Bonds with an interest rate of 5.00% through the year 2012, and $1,110,000 of 1995 Agricultural Land Preservation Serial Bonds with an interest rate that ranges from 5.00% to 5.50% Ihrough the year 2015. The net proceeds of $2,372,833 (the par amount of the bonds plus a premium of $12,833 and less an Underwriter's discount and other costs of issuance of $222,575) were used to purchase U.S. Government securities. Those securities TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2005 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Lon~l-Term Debt (continued) g) Advance Refundin(~ of Bonds (continued) were deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on the 1993 and 1995 bonds. As a result, the 1993 and 1995 bonds are considered to be defeased and the liability for those bonds has been removed from the Government-wide Statement of Net Assets. The Town advance refunded the 1993 and 1995 bonds to reduce its total debt service payments over the next ten years by 2.86% and 2.73%, respectively, to obtain an economic gain of $66,538 (the difference between present values of the debt service payments on the old and new debt). 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. 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, 110 State Street, Albany, N. Y. 12244. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2005 C. Detail Notes on all Funds and Account GrOUl)S (continued) 6. Retirement System (continued) 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 2005 $1,068,200 $1,016,937 2004 $ 992,023 $ 678,079 2003 $ 443,861 $ 240,756 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. On May 14, 2003, Chapter 49 of the laws of 2003 of the State of New York was enacted which made the following changes to the Systems: · Requires minimum contributions by employers of 4.5% of payroll every year, including years in which the investment performance would make a lower contribution possible. Changes the cycle of annual billing such that the contribution for a given fiscal year will be based on the value of the pension fund on the prior April 1st (e.g. billings due February 2005 would be based on the pension value as of March 31, 2003). On July 30, 2004, Chapter 260 of the Laws of 2004 of the State of New York was enacted that allows local employers to bond or amortize a portion of their retirement bill for up to 10 years. This law also requires participating employers to make payments on a current basis, while allowing local employers to bond or amortize existing unpaid amounts relating to the System's fiscal years ending March 31, 2005 through 2007. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2005 C. Detail Notes on all Funds and Account Groul)s (continued) 6. Retirement System (continued) Chapter 260 of the Laws of New York State changed the annual payment due date for employers who participate in the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System. The December 15 payment due date changed to February 1. The covered salary period (April 1 - March 31) will not change for the calculation. The Town of Southold has elected to fund its retirement billings currently. 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, $3,254,433 was paid on behalf of 91 retirees and 216 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. Compensatory 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. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2005 D. Commitments and Continqencies The Town is self-insured for medical insurance and general liability insurance. The amount of medical claims outstanding at December 31, 2005 is $200,131. The amount of general liability claims outstanding at December 31, 2005 is $1,811. These amounts have been reserved against fund balance in the General Fund. The Town also has established an insurance reserve in the General Fund for medical and liability claims the outcome of which are presently unknown. 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. LitiRation During 2004, the State of New York settled it's lawsuit with the Town for unlawful discharge of gasoline and petroleum products at the Town's Highway department on Peconic Lane in the amount of $818,630, payable as follows: $220,000 on October 19, 2004 $158,630 on January 18, 2005 $220,000 on July 1, 2005 $220,000 on July 1, 2006 Since an appropriation for the current amount payable was not available in the Town's 2004 operating budget, the Town Board authorized the issuance of Serial Bonds aggregating $825,000 to finance the settlement. The Town appropriated $165,000 in the 2005 operating budget and financed the remaining amount authorized by issuing a $640,000 Bond Anticipation Note in 2005. The $378,630 paid in 2005 is recorded in TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2005 D. Commitments and Contin.clencies (continued) 2. Litiqation (continued) the Capital Projects Fund and the remaining amount payable is recorded in the General Long-Term debt account group. 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, 2005 were approximately $174,753. Future obligations over the primary terms of the Town's leases as of December 31,2005 are as follows: 2006 $ 115,977 2007 94,997 2008 85,184 2009 & thereafter 684,824 Total $ 980,982 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, 2005. 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 $ 628,026 $ 80,515 $ 20,742,220 $ 3,000,000 $ 196,246 Fishers Island Garbage District 754,288 113,426 3,298,908 115,336 Cutchogue-New Suffolk Park Dist. 154,110 28,382 145,705 28,382 Southold Park District 84,956 63,406 771,267 65,677 Orient-East Marion Park District 9,741 5,559 432,985 16,002 Mattituck Park District 276,171 85,771 1,440,642 200,000 103,881 Orient Mosquito District __ 47,741 15 355 11,500 15,355 $1.955~033 $ 392414 ~ $ 540 879 $ 3,000,000 200,000 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2005 E. Condensed Financial Statements for the Discretely Presented Coml~onent 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 $ 2,736,635 $ 2,060,016 $ 729,001 $ 222,186 $ (274,568) 668,339 484,396 17,000 166,943 143,850 68,723 68,892 6,235 349,090 237,100 109,147 2,843 24,962 29,000 (4,038) 432,213 334,782 76,837 45,651 (25,057) 75,051 58,961 261 15,829 ~ 4.430.140 ~L3+2Z2.+,9~ $ 1.001.13~88 ~ $ (111,813)