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Home My WebLink About2006 All Numbers in This Report Have Been Rounded To The Nearest Dollar RECEIVED ANNUAL FINANCIAL REPORT FEB 2 6 2007 UPDATE DOCUMENT ~outhol~ Town Clerk For The FIRE DISTRICT of Fishers Island County of Suffolk For the Fiscal Year Ended 12/31/2006 ************************************************************************************************************************************* AUTHORIZATION ARTICLE 3, SECTION 30 of the GENERAL MUNICPAL LAW: 1. ***Every Municipal Corporation *** shall annually make a report of its financial condition to the Comptroller. Such report shall be made by the Chief Fiscal Officer of such Municipal Corporation *** 5. All reports shall be certified by the officer making the same and shall be filed with the Comptroller within sixty days after the close of the fiscal year of such Municipal Corporation *** It shall be the duty of the incumbent officer at the time such reports are required to be filed with the Comptroller to file such report *** State of NEW YORK Office of The State Comptroller Division of Local Government Services and Economic Development Albany, New York 12236 Page 1 FIRE DISTRICT OF Fishers Island .** 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 2005 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2006: (A) GENERAL (R) Reserve All amounts included in this update document for 2005 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 (A) GENERAL Balance Sheet Assets Cash Cash In Time Deposits TOTAL Cash Cash, Special Reserves TOTAL Restricted Assets TOTAL Assets Fishers Isiand FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Page 3 A200 7,954 A201 458,986 0 466,940 A230 371,330 0 371,330 0 838,270 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Balance Sheet Page 4 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Results of Operation Detail Revenues And Other Sources Real Property Taxes TOTAL Real Properly Taxes Interest And Earnings Rental of Real Property TOTAL Use of Money And Properly Sales of Equipment TOTAL Sale of Property And Compensation For Loss TOTAL Revenues TOTAL Detail Revenues And Other Sources Page 5 340,242 Al00l 340,242 1,654 A2401 A2410 1,654 A2665 0 341,896 341,896 340,076 340,078 2,202 300 2,502 1,250 1,250 343,828 343,828 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Fire, Pers Serv 20,879 A34101 14,210 Fire, Equip & Cap Outlay 17,992 A34102 7,351 Fire, Contr Expend 119,299 A34104 104,846 TOTAL Fire 158,170 126,407 TOTAL Public Safely 158,170 126,407 Local Pension Fund, Empl Bntts 76,062 A90258 84,984 Social Security, Employer Cont 1,559 A90308 2,604 Worker's Compensation, Empl Bntts 5,453 A90408 6,614 life Insurance, Empl Bntts 14,499 A90458 15,718 TOTAL Employee Il1!riefits 97,573 109,920 TOTAL Expel)dltures 255,743 236,327 Transfers, Other Funds 56,000 A99019 56,000 TOTAl Operating Transfers 56,000 56,000 TOTAL Other Uses 56,000 56,000 TOTAL Detail Expenditures And Other Uses 311,743 292,327 Page 6 OSC Municipality Code 471179004000 (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity-Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity-End of Year Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Page 7 390,365 390,365 341,896 311,743 420,518 A8021 A8022 420,518 420,518 343,828 292,327 472,019 A8029 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Budget Summary Page 8 Balance Sheet Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Page 9 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Balance Sheet Page 10 (R) Reserve Results of Operation Detail Revenues And Other Sources Interest & Earnings TOTAL US" of Money And Property TOTAl Revenues Interiund Transfers TOTALlrnenundT~nsre~ TOTAL Other Sources TOTAL Detail Rellenues And Other Sources Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Page 11 1,450 R2401 1,450 1,450 56,000 R5031 56,000 56,000 57,450 1,444 1,444 1,444 56,000 56,000 56,000 57,444 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Results of Operation Page 12 (R) Reserve 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 Fund Equity - End of Year Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2006 Page 13 256,656 256,656 57,450 314,106 R8021 R8022 R8029 314,106 314,106 57,444 371,550 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Financial Comments For the Fiscal Year Ending 2006 Page 14 Fishers Island FIRE DISTRICT Statement of Indebtedness For the Fiscal Year Ending 2006 Page 1 5 Fishers Island FIRE DISTRICT Maturity Schedule For the Fiscal Year Ending 2006 Page 16 Fishers Island FIRE DISTRICT Schedule of Securities for Collateralization For the Fiscal Year Ending 2006 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. 1. 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. 2. 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 3. 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 4. 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. 5. 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. 6. Obligations of Puerto Rico rated in one of three highest rating categories by at least one nationally recognized statistical rating organization. 7. 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. 8. Obligations of domestic corporations rated in one of the two highest rating categories by at least one nationally recognized statistical rating organization. 9. 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. 10. 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 17 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Schedule of Time Deposits and Investments For the Fiscal Year Ending 2006 EDP Code Amount CASH: On Hand Demand Deposits Time Deposits Total 9Z2001 9Z2011 9Z2021 $0.00 COLLATERAL: - FDIC Insurance Collateralized with securities held in possession of municipality or its agent Total 9Z2014 9Z2014A $0.00 INVESTMENTS: - Securities (450) Book Value (cost) Market Value at Balance Sheet Date 9Z4501 9Z4502 Collateralized with securities held in possession of municipality or its agent 9Z4504A - Repurchase Agreements (451) Book Value (cost) Market Value at Balance Sheet Date 9Z4511 9Z4512 Collateralized with securities held in possession of municipality or its agent 9Z4514A Page 18 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Investment Certification For the Fiscal Year Ending 2006 DEFINITIONS: Repurchase Agreement - A generic term for an agreement in which a government entity (buyer-iender) transfers cash to a broker-deaier 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 No required by General Municipai Law, Section 39? 2) The following investments are permitted by your investment policy. . Obligations of the UNITED STATES . Obligations of the U.S. Government Agencies, guaranteed by the UNITED STATES Government . Obligations of the ST ATE of NEW YORK . Obligations of other NEW YORK STATE Local Governments . Other 3) 4) Do you engage in reverse repurchase agreements? Are Repurchase Agreements authorized by your investment policy? No No Name: Trudi A. Edwards Title: Treasurer Phone Number: (631) 788-7019 Page 19 )SC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Bank Reconciliation For the Fiscal Year Ending 2006 Include All Checking, Savings and CD. Accounts Bank Add: Less: Adjusted Account Bank Deposit Outstanding Bank Number Balance In Transit Checks Balance 0130020086 $7,000 $0 $0 $7,000 4224005498 $9,295 $0 $1,341 $7,954 4224005654 $71,037 $0 $0 $71,037 4224005662 $300,293 $0 $0 $300,293 4224005704 $458,986 $0 $0 $458,986 ge cap. life assurance $234,295 $0 $0 $234,295 NY Life cash value ins $298,813 $0 $0 $298,813 SAPH28 $155,253 $0 $0 $155,253 Total Adjusted Bank Balance $1,533,630 Petty Cash $.00 Adjustments $.00 Total Cash 9ZCASH . $1,533,630 Total Cash Balance All Funds 9ZCASHB . $838,270 . Must be equal Page 20 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Fire District Questionnaire For the Fiscal Year Ending 2006 1) Has your district adopted a written procurement prolicy and is it complied with? 2) Has your district contracted to have an independent audit of its financial statements? If not, has the Board of Fire Commissioners performed an internal audit of the Treasurer's records and reports? Response N N Y 3) Does your district have a written travel policy and is it complied with? 4) Are monthly bank reconciliations performed? 5) What is your district's FYE 2007 statutory spending limitation margin (amount)? 6) Does your fire district have a Length of Service Award Program (LOSAP) for volunteer firefighters? Y Y If so, how are the LOSAP funds invested? Marketable Securities Annuities Life Insurance N Y Y Other (describe) Page 21 OSC Municipality Code 471179004000 Page 22 Fishers Island FIRE DISTRICT Supplemental Section Comments For the Fiscal Year Ending 2006 Page 23 CERTIFICATION OF CHIEF FISCAL OFFICER I, Trudi A. Edwards , hereby certify that I am the Chief Fiscal Officer of the h-slle.S .l:=,lard E(e..~DLc:>tflC:t, and that the information provided in the annual financial report of the E :,\v..(s..-:l<dQ..f\dFi,le Jlii::J(,Ctfor the fiscal year ended 12/31/2006 , 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 f; <"h<:':.Is+-s\cV\cJ [.re uDbfn,Std adopted by me as my signature for use in conjunction with the filing of the -f: -s. hers TslC\. vlC/ f,re 1)1:S +r'-cts annual financial report, I am evidencing my express intent to authenticate my certification of the c;:; ~ he ( S J-"::> la. ~~ fire 1>i'o\..-,c..~nual financial report for the fiscal year ended 12/31/2006 and filed by means of electronic data transmission. Name of Report Preparer if different than Chief Fiscal Officer Irudi t.. Edwards Name ( ) . Telephone Number Treasurer Title PO Box 167 Official Address 02/17/2007 Date of Certification (631) 788-7645 Official Telephone Number Page 1 Municipality Code 471179004000