HomeMy WebLinkAbout2000 FIFD
RECEIVED
JUL 1 3 2001
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FISHERS ISLAND FERRY DISTRICT
SUPPLEMENTAL FINANCIAL REPORTS
IN ACCORDANCE WITH THE
OMB CIRCULAR A-133
DECEMBER 31, 2000
OHERTV
EALS_&
ANKS, P.C.
CERTIFIED PUBLIC
ACCOUNTANTS
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FISHERS ISLAND FERRY DISTRICT
DECEMBER 31, 2000
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CONTENTS
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Report on Compliance and Internal Control over
Financial Reporting Based on an Audit of
Financial Statements Performed in Accordance
with Government Auditing Standards . . .
Report on Compliance with Requirements Applicable
to each Major Program, on Internal Control
over Compliance in Accordance with OMB Circular
A-I33, and on the Schedule of Expenditures
of Federal Awards 0 0 0 0 0 0 0 . 0 0 0 0 0 0
Schedule of Expenditures of Federal Awards
. . . . . . . . . . . . . . . .
Notes to the Schedule of Expenditures
of Federal Awards
Schedule of Findings and Questioned Costs 0 0 0 0 0 0 . .
DOHERTY. BEALS Be BANKS, P.Co
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DOHERTY, BEALS & BANKS, P.C.
CARL A. BANKS. CPA
STACEY L. c;.UALTIERI, CPA
KATHLEEN A. STEAMER. CPA
EVELYN A. COOKE, CPA
DAVID J. MICELI, CPA
CERTIFIED PUBLIC ACCOUNTANTS
'87 WILLIAMS STREET
POST OFFICE BOX 158
NEW LONDON, CONNECTICUT 08320
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(880) 4,43.2033
FAX (860) 444-7088
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COMBINED REPORT ON COMPLIANCE AND INTERNAL CONTROL
OVER FINANCIAL REPORTING BASED ON AN AUDIT OF
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
Board of Commissioners
Fishers Island Ferry District
Fishers Island, NY 06390
We have audited the general-purpose financial statements of the Fishers Island
Ferry District, as of and for the year ended December 31, 2000, and have issued
our report thereon dated May 24, 2001. We conducted our audit in accordance with
generally accepted auditing standards and the standards applicable to financial
audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States.
Compliance
As part of obtaining reasonable assurance about whether the Fishers Island Ferry
District's financial statements are free of material misstatement, we performed
tests of its compliance with certain provisions of laws, regulations, contracts
and grants, noncompliance with which could have a direct and material effect on
the determination of financial statement amounts. However, providing an opinion
on compliance with those provisions was not an objective of our audit and
accordingly, we do not express such an opinion. The results of our tests
disclosed no instances of noncompliance that are required to be reported under
Governmen t Audi ting Standards.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered Fishers Island Ferry
District's internal control over financial reporting in order to determine our
auditing procedures for the purpose of expressing our opinion on the financial
statements and not to provide assurance on the internal control over financial
reporting. Our consideration of the internal control over financial reporting
would not necessarily disclose all matters in the internal control over financial
reporting that might be material weaknesses. A material weakness is a condition
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in which the design or operation of one or more of the internal control
components does not reduce to a relatively low level the risk that misstatements
in amounts that would be material in relation to the financial statements being
audited may occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions. We noted no matters
involving the internal control over financial reporting and its operation that
we consider to be material weaknesses.
This report is intended solely for the information of the governing council,
management, and Federal awarding agencies and pass-through entities and is not
intended to be and should not be used by anyone other than these specific
parties.
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May 24, 2001
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DOHERTY. BEALS 8< BANKS. P.C.
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DOHERTY, BEALS Be BANKS, P.C.
CARL A. SANKS, CPA
sTACEY L. GUALTIERI. CPA
KATHLEEN A. STEAMER. CPA
EVELYN A. COOKE, CPA
DAVID J. MICELI. CPA
CERTIFIED PUBLIC ACCOUNTANTS
187 WILLIAMS STREET
POST OFFICE. BOX 58
NEW LONDON, CONNECTICUT 08320
t.
(880) 4.3.2.033
FAX (880) 444.7086
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REPORT ON COMPL~ANCE WITH REQUIREMENTS APPLICABLE TO EACH
MAJOR PROGRAM, THE INTERNAL CONTROL OVER COMPLIANCE,
AND THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
IN ACCORDANCE WITH OMB CIRCULAR A-133
Board of Commissioners
Fishers Island Ferry District
Fishers Island, NY 06390
Compliance
We have audited the compliance of the Fishers Island Ferry District with the
types of compliance requirements described in the U.S. Office of Management and
Budget 10MB) circular A-133 compliance Supplement that are applicable to each of
its major federal programs for the year ended December 31, 2000. The major
federal programs are identified in the summary of auditors' results section of
the accompanying schedule of findings and questioned costs. compliance with the
requirements of laws, regulations, contracts and grants applicable to each of its
major federal programs is the responsibility of the Fishers Island Ferry
District's management. Our responsibility is to express an opinion on the
Fishers Island Ferry District's compliance based on our audit.
We conducted our audit of compliance in accordance with generally accepted
auditing standards; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the united
States; and OMB Circular A-133, Audits of States, Local Governments, and Non-
profit Organizations. Those standards and OMB Circular A-133 require that we
plan and perform the audit to obtain reasonable assurance about whether
noncompliance with the types of compliance requirements referred to above that
could have a direct and material effect on a major program occurred. An audit
includes examining, on a test basis, evidence about the Fishers Island Ferry
District's compliance with those requirements and performing such other
procedures, as we considered necessary in the circumstances. We believe that our
audit provides a reasonable basis for our opinion. Our audit does not provide
a legal determination on the Fishers Island Ferry District's compliance with
those requirements.
In our opinion, the Fishers Island Ferry District complied, in all material
respects, with the requirements referred to above that are applicable to each of
its major federal programs for the year ended December 31, 2000.
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Internal Control Over Compliance
The management of the Fishers Island ferry District is responsible for
establishing and maintaining effective int~rnal control over compliance with the
requirements of laws, regulations, contracts and grants applicable to federal
programs. In planning and performing our ,audit, we considered the Fishers Island
Ferry District's internal control over compliance with requirements that could
have a direct and material effect on a major federal program in order to
determine our auditing procedures for the purpose of expressing our opinion on
compliance and to test and report on internal control over compliance in
accordance with OMB Circular A-133.
Our consideration of the internal control over compliance would not necessarily
disclose all matters in the internal control that might be material weaknesses.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low level
the risk that noncompliance with applicable requirements of laws, regulations,
contracts and grants that would be material in relation to a major federal
program being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions. We noted
no matters involving the internal control over compliance and its operation that
we consider to be material weaknesses.
Schedule of Expenditures of Federal Awards
We have audited the general-purpose financial statements of the Fishers Island
Ferry District as of and for the year ended December 31, 2000, and have issued
our report thereon dated May 24, 2001. Our audit was performed for the purpose
of forming an opinion on the general-purpose financial statements taken as a
whole. The accompanying schedule of expenditures of federal awards is presented
for purposes of additional analysis as required by OMB Circular A-133 and is not
a required part of the general-purpose financial statements. Such information
has been subjected to the auditing procedures applied in the audit of the
general-purpose financial statements and, in our opinion, is fairly stated, in
all material respects, in relation to the basic financial statements taken as a
whole.
This report is intended for the information of the governing council, management,
and federal award agencies and pass-through entitles and is not intended to be
and should not be used by anyone other than these specified parties.
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May 24, 2001
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nOHF:RTV BEALS 8< BANKS. P.C.
FISHERS ISLAND FERRY DISTRICT
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2000
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Federal Grantor
pass-through Grantor
program Title
Federal
CFDA
Number
U.S. Department of Transportation
Pass Through Program From:
New York State Department of
Transportation
Highway Planning and Construction,
Wharf Reconstruction 20.205
TOTAL EXPENDITURES OF FEDERAL AWARDS
See notes to schedule.
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DOHERTY. BEALS & BANKS, P.C.
Pass-Through
Grantor's
Number
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0757-48321 $
Federal
EXDenditures
640,000
$
640.000
FISHERS ISLAND FERRY DISTRICT
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED DECEMBER 31, 2000
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1. BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes the
federal grant activity of the Fishers Island Ferry District and is
presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of OMB Circular
A-I33, Audits of States, Local Governments, and Non-Profit organizations.
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DOHERTY, BEALS 8< BANKS. P.C.
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FISHERS ISLAND FERRY DISTRICT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED DECEMBER 31, 2000
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SECTION I - Summary of Auditor's Results
Financial Statements
Type of auditorls report issued:
unqualified
Internal control over financial reporting:
2.
Material weakness(es) identified?
_ yes
..lL no
3.
Reportable condition(s) identified that are
not considered to be material weaknesses?
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_ yes
-K- none reported
Noncompliance material to financial statements
noted?
_ yes
..lL no
Federal Awards
Internal control over major programs:
4.
Material weakness (es) identified?
_ yes
..lL no
5.
Reportable condition(s) identified that are
not considered to be material weakness(es)?
_ yes
..lL none reported
Type of auditor's report issued on compliance
for major programs:
unqualified
Any audit findings disclosed that are required to be
reported in accordance with OMB Circular A-133
Section 510(a)? _ yes
..lL no
Identification of major programs:
Dollar threshold used to distinguish between
type A and type B programs:
$300.000.00
Auditee qualified as low-risk auditee?
_ yes
...x... no
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DOHERTY, BEALS 8< BANKS, P.C.
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FISHERS ISLAND FERRY DISTRICT SOUTHEASTERN
CONNECTICUT, INC.
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED DECEMBER 31, 2000
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SECTION II - Financial Statement Findings
No financial statement findings or questioned costs are reported.
SECTION III - Federal Award Findings and Questione~' Costs
No federal award findings or questioned costs are reported.
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DOHERTY. BEALS 8< BANKS, P.C.