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Home My WebLink About2007 All Numbers in This Report Have Been Rounded To The Nearest Dollar ANNUAL FINANCIAL REPORT UPDATE DOCUMENT For The FIRE DISTRICT of Fishers Island County of Suffolk For the Fiscal Year Ended 12/31/2007 RECEIVED MAR 1 1 2008 Soulhol~ Town CIeri ************************************************************************************************************************************* 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 2006 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2007: (A) GENERAL (R) Reserve (TA) AGENCY All amounts included in this update document for 2006 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 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 (Al GENERAL Balance Sheet Assets Cash Cash In Time Deposits TOTAL Cash Cash, Special Reserves TOTAL Restricted Assets TOTAL Assets Page 3 7,954 A200 -737 458,986 A201 481,839 466,940 481,101 A230 0 0 466,940 481,101 OSC Municipality Code 471179004000 (Al GENERAL Balance Sheet Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Liabilities And Fund Equity Unreserved Fund Balance Appropriated TOTAL Unreserved Fund. Balance - Appropriated Unreserved Fund Balance Unappropriated TOTAL Unreserved Fund Balance - Unappr9priated TOTAL Fund Equity TOTAL LiabilitIes And Fund Equity Page 4 o 466,940 466,940 466,940 466,940 A910 A911 o 481,101 481,101 481,101 481,101 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 (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 Properly And Compensation For Loss TOTAL Revenues TOTAL Detail Revenues And Other Sources Page 5 340,076 A1001 340,076 2,202 A2401 300 A2410 2,502 1,250 A2665 1,250 343,828 343,828 354,509 354,509 1,853 1,853 o 356,362 356,362 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Fire, Pers Serv 14,210 A34101 18,331 Fire, Equip & Cap Outlay 7,351 A34102 18,428 Fire, Contr Expend 134,248 A34104 165,245 TOTAL Fire 155i809 202,005 TOTAL Public Sefety 155,809 202,005 Local Pension Fund, Empl Bntts 84,984 A90258 82,563 Social Security, Employer Cont 2,604 A90308 1,633 Worker's Compensation, Empl Bntts A90408 Life Insurance, Empl Bntts A90458 TOTAL EmploYlle Benefi~ . 87,588 84,195 TOTAL Expenditures 243;397 286,200 Transfers, Other Funds 56,000 A99019 56,000 TOTAL Operatin9 Transfers 56,000 56,000 TOTAL Other Uses 56,000 56,000 TOTAL Detail Expenditures And Other Uses 299,397 342,200 Page 6 OSC Municipality Code 471179004000 (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equlty~Beginning of Year Prior Period Adj-Increase To Fund Equity 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 2007 Page 7 420,518 1,993 422,511 343,828 299,397 466,942 A8021 A8012 A8022 466,942 466,942 3S6,362 342,200 481,103 A8029 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Budget Summary Page 8 (R) Reserve Balance Sheet Assets Cash, Special Reserves Cash In Time Deposits, Spec Res TOTAL Restricted Assets TOTAL Assets Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Page 9 371,550 R230 R231 429,003 , 371,550 371,550 429,003 429,003 OSC Municipality Code 471179004000 (R) Reserve Balance Sheet Liabilities And Fund Equity Capital Reserve Reserve For Repairs MisceHaneous Reserve (specify) TOTAL Special Reserves TOTAL Fund Equity TOTAL Liabilities And Fund Equity Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Page 10 371,550 371,550 371,550 371,550 R878 R882 R889 429,003 429,003 429,003 429,003 OSC Municipality Code 471179004000 (R) Reserve Results of Operation Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Detail Revenues And Other Sources Interest & Earnings TOTAL Use of Money And Properly TOTAL Revenues lnterfund Transfers TOTAL Interfund Transfers TOTAL Other Sources TOTAL Detail Revenues And Other Solitl:es Page 11 1,444 R2401 1,673 1,673 1,444 1,673 56,000 R5031 56,000 56,000 56,000 56,999 56,000 5iAM 57,673 OSC Municipality Code 471179004000 (R) Reserve Results of Operation Detail Expenditures And Other Uses Fire, Equipment Outlay TOTAL Fire TOTAL Public Safety TOTAL Expenditures TOTAL Detail Expenditures And Other Uses Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Page 12 R34102 0 0 0 0 0 0 0 0 OSC Municipality Code 471179004000 (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 DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Page 13 314,106 314,106 57,444 371,550 R8021 R8022 371,550 371,550 57,673 R8029 429,223 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 (TAl AGENCY Balance Sheet Assets Service Award Program Assets TOTAL Investments TOTAL Assets 695,360 TA461 ~5,360 695,360 o o Page 14 OSC Municipality Code 471179004000 IT A) AGENCY Balance Sheet Liabilities And Fund Equity Service Awards TOTAL Agency Liabilities TOTAL Liabilities TOTAL Liabilities And Fund Equity Fishers Island FIRE DISTRICT Annual Update Document For the Fiscal Year Ending 2007 Page 15 695,360 695,360 695,360 695,360 TA13 o o o OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Statement of Indebtedness For the Fiscal Year Ending 2007 Page 17 Fishers Island FIRE DISTRICT Schedule of Securities for Collateralization For the Fiscal Year Ending 2007 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. No 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 19 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Schedule of Time Deposits and Investments For the Fiscal Year Ending 2007 EDP Code Amount CASH: On Hand Demand Deposits Time Deposits Total 9Z2001 9Z2011 9Z2021 $0.00 COLLATERAL: - FD IC Insurance Collateralized with securities held in possession of municipality or its agent Total 9Z2014 9Z2014A $0.00 INVESTMENTS: - Securities (450) Book Vaiue (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 20 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Investment Certification For the Fiscal Year Ending 2007 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 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 STATE 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 Titie: Treasurer Phone Number: (631) 788-7019 Page 21 )SC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Bank Reconciliation For the Fiscal Year Ending 2007 Include All Checking, Savings and CD. Accounts Bank Account Number Bank Balance 4224005498 4224005654 4224005662 4224005704 $2,022 $72,325 u135i3&~8 $481,839 Add: Deposit In Transit $0 $0 $0 _____________n__ __ ____ $0 Total Adjusted Bank Balance Petty Cash Adjustments Total Cash Total Cash Balance All Funds * Must be equal Page 22 Less: Outstanding Checks . nl2.?~9 $0 ------------ $0 $0 9ZCASH 9ZCASHB * * Adjusted Bank Balance ($737) $72,325 $356,678 . _$481,839 $910,104 $.00 ------.-.......-...-- $.00 $910,104 $910,104 OSC Municipality Code 471179004000 Fishers Island FIRE DISTRICT Fire District Questionnaire For the Fiscal Year Ending 2007 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 Y If so, how are the LOSAP funds invested? Marketable Securities Annuities Life Insurance N Y Y Other (describe) Page 23 OSC Municipality Code 471179004000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Trudi A. Edwards the , hereby certify that I am the Chief Fiscal Officer of , and that the information provided in the annual financial report of the , 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 . ' for the fiscal year ended 12/31/2007 the Chief Fiscal Officer of the , and adopted by me as my signature for use in conjunction with the filing of the annual financial report, I am evidencing my express intent to authenticate my certification of the annual financial report for the fiscal year ended 12/31/2007 's and filed by means of electronic data transmission. Name of Report Preparer if different than Chief Fiscal Officer Trudi A, .Eslwards Name LJ - Telephone Number Treasurer --------- Title PO Box 167 -- - ---- Official Address 02/25/2008 Date of Certification (631 J788~7645 Official Telephone Number Page 24 Municipality Code 471179004000 . . FIRE DISTRICT DEMOGRAPHICS Post;;"~ailin9_~d~rl!Ss: IpO Box 222 Street Address or PO Box 1(631) 788-7019 Fire District Telephone Number ~firedistrict@fishersiSland.n Official Email Address 1NY""~6390 State Zip IFiShers Island City 1(631) 788-7094 Fire District Fax Number I Website Physical Address: (If Different From Postal Address) I I Street Address or PO Box City II State Zip BOARD DEMOGRAPHICS CHIEF FISCAL OFFICER ~ rudi A. Edwards Name Ipo Box 167 Street Address or PO Box 1(631) 788-7645 Telephone Number ~CIUb@fiSherSiSland .net Email Address ~reasurer Title IFiShers Island City 1(631) 788-7094 Fax Number 112/31/2008 Term End Date 1NY""~6390 State Zip CHAIRMAN OF THE BOARD ILawrence Horn Name IpO Box 1 Street Address or PO Box 1(631)788-7828 Telephone Number Email Address fchairman Title IFiShers Island City I( ) - Fax Number 112/31/2008 Term End Date 1NY""106390 State Zip I, ~rudi A. Edwards hereby certify that I am the Chief Fiscal Officer of the IFishers Island Fire District , and that the information provided in the annual financial report of the IFishers Island Fire District , for the fiscal year ended 112/31/2007 , is true and correct to the best of my knowledge and belief. By entering the personal identification number assigned by the Office of the State Comptroller to me as the Chief Fiscal Officer of the IFishers Island Fire District , and adopted by me as my signature for use in conjunction with the filing of the (Fishers Island Fire District 's annual financial report, I am evidencing my express intent to authenticate my certification of the IFishers Island Fire District 's annual financial report report for the fiscal year endedI12/31/2007 and filed by means of electronic data transmission. Name of Report Preparer if different than Chief Fiscal Officer I Personal Identification Number of Chief Fiscal Officer 02/25/2008 Date