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Home My WebLink About2007 .' RECEIVED I!' rJ 2 6 ~ri.l;O ~'> .1'1; \ f_'-.- V\) All ~8:<<Bgf~ i~Of~s4M~ort Have Been Rounded To The Nearest Dollar ANNUAL FINANCIAL REPORT UPDATE DOCUMENT For The TOWN of South old County of Suffolk For the Fiscal Year Ended 12/31/2007 ************************************************************************************************************************************* AUTHORIZATION ARTICLE 3, SECTION 30 of the GENERAL MUNICPAL LAW: 1. "'Every Municipal Corporation '" shall annually make a report of its financial condition to the Comptroller. Such report shall be made by the Chief Fiscal Officer of such Municipal Corporation '" 5 All reports shall be certified by the officer making the same and shall be filed with the Comptroller within sixty days after the close of the fiscal year of such Municipal Corporation '" It shall be the duty of the incumbent officer at the time such reports are required to be filed with the Comptroller to file such report '" State of NEW YORK Office of The State Comptroller Division of Local Government Services and Economic Development Albany, New York 12236 Page 1 TOWN OF South old ... 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 (B) GENERAL TOWN-OUTSIDE VG (CD) SPECIAL GRANT (DA) HIGHWAY-TOWN-WIDE (DB) HIGHWAY-PART-TOWN (H) CAPITAL PROJECTS (K) GENERAL FIXED ASSETS (SF) FIRE PROTECTION (SM) MISCELLANEOUS (SP) PARK (SR) REFUSE AND GARBAGE (SS) SEWER (TA)AGENCY (V) DEBT SERVICE (W) GENERAL LONG-TERM DEBT 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 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (A) GENERAL Balance Sheet ~ue" Assets Cash Cash In Time Deposits Petty Cash TOTAL Cash Accounts Receivable TOTAL Othe'Recelvable. (net) State & Federal, Other ~!illll~.,", 3,147,911 A200 5,191,277 A201 284 A210 22,346 A380 110,153 A410 190,208 A391 190,208 2,075,955 A440 2,099 A445 426,199 A480 Due From Other Governments TOTAL Due.From Other Governments Inventory Prepaid Expenses 1,836,441 19,600,827 420 17,263 62,377 74,500 826,834 826,834 1,275 Page 3 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (A) GENERAL Balance Sheet Gl-1rutl"l. Liabilities And Fund Equity Accounts Payable TOTAL AC~ftt!rfy~!e~~ Due To Other Funds - U!Il_ fJ0 701,018 A600 830,531 830,53:' 2,974,237 1,460,650 A630 Reserve For Encumbrances TOTAL Reserye For Encumbrance. Insurance Reserve 513,329 A863 193,041 588,614 Balance Appropriated 2,185,000 A910 1,816,000 TOTAL Fund Equity ^ ^^7;/:\];~<" TOTAL Lia1:>iJi~~;AlJd Fund,Equity 2,673,086 A911 2,486,137 Page 4 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (A) GENERAL Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes rOT AL R!l~I2#r~~!lyT~x Items Non Prop Tax Dist By County Treasurer Fees Clerk Fees Other General Departmental Income Police Fees Charges-Programs For The Aging Park And Recreational Charges Special Recreational Facility Charges Other Home & Community Services Income General Services, Inter Government Programs For Aging, Other Govts Mise Revenue, Other Govts TOTAL Intergoverl)mental Charges Interest And Earnings Rental of Real Property Commissions TOTA[Oo,,"ol' Money"~nd Properly Bingo Licenses Dog Licenses Permits, Other TOTAL Licenses And Permits Fines And Forfeited Bail Forfeitures of Deposits TOT ALFlnes And Forfeitures Sales of Scrap & Excess Materials Sales, Other Insurance Recoveries TOTAL Sale of Properly And Compensatlon"For Loss Reimbursement of Medicare Part D Exp Refunds of Prior Year's Expenditures Gifts And Donations Unclassified (specify) TOTAL"Mf.cellaneoos Local Sources St Aid, Mortgage Tax St Aid, Real Property Tax Administration St Aid - Other (specify) St Aid, Youth Programs TOTAL State Aid Page 5 ;J?:~'Jl;J~m! 14,872,736 Al001 16,205,911 24,748 Al081 27,485 61,060 Al090 65,121 85,808 616,670 A1120 683,873 5,400 A1230 6,075 11,114 A1255 10,136 2,107 A1289 4,479 3,810 A1520 4,216 169,983 A1972 184,273 90,595 A2001 73,234 138,100 A2025 88,631 56,740 A2189 40,745 411,790" 162,742 A2210 164,254 122,557 A2351 131,148 30,750 A2389 33,800 329,202 540,556 A2401 617,257 143,019 A2410 147,655 591 A2450 " 684,166 764,912 674 A2540 688 10,421 A2544 9,248 247,698 A2590 243,558 161,938 A2610 150,852 9,825 A2620 4,625 8,952 A2650 284 1,395 A2655 899 84,710 A2680 147,101 56,764 A2700 41,805 10,603 A2701 19,213 -8,397 A2705 3,640 87,291 A2770 121,286 146,260 185,945 2,610,172 A3005 2,293,263 8,312 A3040 8,284 79,299 A3089 83,927 27,395 A3820 27,395 2,412,869 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (A) GENERAL Results of Operation ~-.- ~ --" -- Detail Revenues And Other Sources Fed Aid Other Public Safety Fed Aid, Transp Cap Proj Fed Aid, Programs For Aging Fed Aid, Other Home & Community Cap J.M'fII': ~w. 7,830 A4389 2,649 28,838 A4597 20,000 121,825 A4772 122,919 70,000 A4997 228,493 21,789,931 2,253,944 A5031 2,738,349 Interfund Transfers TOTAt.,Detail Revenues~~Aria OtherSourc..s Page 6 OSC Municipality Code 470379000000 (A) GENERAL Results of Operation ~,:_ IGUlMl Detail Expenditures And Other Uses Legislative Board, Pers Serv Legislative Board, Gantr Expend TOTAL:~iifi'tlV~l~<!"I'll'."" Municipal Court, Pars Sarv Municipal Court, Equip & Cap Outlay Municipal Court, Gantr Expend Supervisor,pers Sarv Supervisor,equip & Cap Outlay Supervisor,contr Expend Dir of Finance, Pers Sarv Dir of Finance, Equip & Cap Outlay Dir of Finance, Cantr Expend Auditor, Contr Expend Tax Collection,pers Sarv Tax Collection,contr Expend TOfAL1".ax.f,<>!i~"!I'l.n.. Assessment, Pars Sarv Assessment, Equip & Cap Outlay Assessment, Cantr Expend IClTAL'ASsessrnerit Clerk,pers Sarv Clerk,equip & Cap Outlay Clerk,contr Expend Law, Pers Serv Law, Cantr Expend Engineer, Pers Sarv Engineer, Cantr Expend Records Mgmt, PerS. SerVo Records Mgmt, Equip & Cap Outlay Records Mgmt, Contr Expend TOTALRecordtl'Mgi1'li..... Public Works Admin, Pers Serv Public Works Admin, Contr Expend TOT...L!"\I~i(~WorksAdmi~... Buildings, Pers Serv Buildings, Equip & Cap Outlay Buildings, Contr Expend TOTAL Buildings Central Garage, Pers Serv TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 l~-: ~_~AL:UIn-.m 115,920 Al0101 121,055 208,208 Al0104 148,299 269,354 386,871 Al1101 412,428 Al1102 530 52,345 A11104 50,525 192,397 A12201 203,481 A 12202 4,078 A12204 3,785 207,265 303,296 A13101 324,053 739 A13102 275 14,205 A13104 17,593 60,000 A 13204 65,000 65,000 81,018 A13301 88,699 16,246 A13304 16,995 347,006 A13551 366,466 310 A 13552 909 24,782 A13554 18,782 372,099 328,257 A14101 296,748 13,035 A14102 14,376 A14104 19,349 248,405 A14201 267,715 98,033 A14204 87,541 70,126 A14401 67,380 1,706 A14404 1,801 71,832 69,181 77,822 A14601 77,951 10,380 A14602 749 2,580 A14604 1,940 60,344 A14901 64,954 585 A14904 572 55,526 621,237 A16201 697,223 229,283 A 16202 149,324 558,770 A16204 482,467 1,32,9,Q14 A16401 2,500 OSC Municipality Code 470379000000 Page 7 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Central Garage, Equip & Cap Outlay Central Garage, Contr Expend TOTAL C~~tral ,(;ara9~ Central Print & Mail, Equip & Cap Outlay Central Print & Mail,contr Expend . ,.<.>,...::.....,...,."".C".o:uu.C'.'u."./...\: ... ToT~I.:~lial Prinl;&',NI:a!I,'i"i Central Data Process, Pers Serv Central Data Process & Cap Outlay Central Data Process, Contr Expend Unallocated Insurance, Contr Expend Municipal Assn Dues, Contr Expend Public Safety Comm Sys, Pers Serv Public Safety Comm Sys, Equip & Cap Outlay Public Safety Comm Sys, Contr Expend rOTACp~blic Police, Pers Serv Police, Equip & Cap Outlay Police, Contr Expend Tb.T~IlPollc. Traffic Control, Equip & Cap Outlay Traffic Control, Contr Expen TOT~L..Traffla.C;;"lllrol Fire, Contr Expend Control of Animals, Contr Expend Examining Boards, Pers Serv Examining Boards, Contr Expend TOT A~i~~m'Hl~hlJ:::Boards Civil Defense, Pers Serv Civil Defense, Equip & Cap Outlay Civil Defense, Contr Expend TOTAL Civil ~f~ns~ TOTAL Public Safely Public Health, Contr Expend TOTAL Public H~alth Narcotic Guid Council, Contr Expend TOTAL NarCotic'Guid Council TOTAL H~a1th ' Street Admin, Pers Serv TOTAL street Admin TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 Page 8 A16402 13,469 A16404 44,290 A16702 33,748 A16704 78,037 222,592 A16801 17,044 A16802 177,712 A16804 417,348 524,876 A19104 1,650 A19204 662,699 A30201 80,223 A30202 50,576 A30204 793,498 5,832,521 A31201 130,978 A31202 389,042 A31204 6,352,541 A33102 27,259 A331 04 337 A341 04 337 168,730 A351 04 8,141 A36101 4,243 A36104 12,500 A36401 986 A36402 3,045 A36404 16,531 7,371,280 A40104 32,988 A42104 32,988 32,988 246,477 A50101 14,907 12,151 29,557 51,294 32,629 235,183 5,540 207,934 448,657 616,307 616,307 1,650 1,650 700,663 69,521 40,539 6,265,702 104,775 388,103 6,758,580 19.100 23,808 42,9ll8, 131 131 175,479 '176;479 8,725 5,349 11,000 3,750 7,816;643 2,250 2,260 32,988 32;988 35,238 324,400 OSC Municipality Code 470379000000 (A) GENERAL Results of Operation .~.- Detail Expenditures And Other Uses Street Lighting, Pers Serv Street Lighting, Equip & Cap Outlay Street Lighting, GantT Expend Off.Street Parking, Equip & Cap Outlay Off-Street Parking, CantT Expend TqT AL Off-l!b'e<>t Parking TOTAL TransJtoria1ion ' Publicity, CantT Expend Programs For Aging, Pers Serv Programs For Aging, Equip & Cap Outlay Programs For Aging, GantT Expend TOT ALPie!ira~ ,1:91 ~ging . TOTAk~~Ii~\Tli~~j~t!!,ce'Ana.Opportunity Recreation Admini, Pers Serv Recreation Admini, Equip & Cap Outlay Recreation Admini, Cantr Expend TOTAL~iiS~t1~~lnl . Special Ree Facility, Pers Serv Special Ree Facility, CantT Expend Library, CantT Expend TOTAL Library Historian, Pers Serv Historian, CantT Expend TOTAL HI.to~an Historical Property, Pers Serv Historical Property, CantT Expend TOTAL Hlsttsrlcal Property Celebrations, Contr Expend TOTAl". c:elebrailons TOTI',l::'Cuiture'AIfti Recreation Planning, Contr Expend TOTAi.:Plannlng '. "': Environmental Control, Pers Serv Environmental Control, Equip & Cap Outlay Environmental Control, Contr Expend TOTAL Enjir9.fi'i!i~[~'c:~qC:sr;?i;c,' Shade Tree, Pers Serv Shade Tree, Contr Expend TO:rA~~!l.~~;Tree Conservation, Equip & Cap Outlay Conservation, Contr Expend TOTAL Conservation TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 47,206 A51821 48,981 1,858 A51822 5,275 149,887 A51824 138,249 A56502 33,800 6,621 A56504 202 .'. .6;621 . 34,002 550,906 40,000 A641 04 40,000 . 40,OOlJ 698,213 A67721 802,704 3,556 A67722 1,584 207,970 A67724 220,617 .909,740 1.024~905 1,064;905 107,111 A70201 71,653 52 A70202 270 98,899 A70204 85,828 ..: .,:.,;'~9~.062 106,261 A7l80l 112,973 6,583 A71804 5,461 118,~34: 45,000 A741 04 45,000 . 45,000.: 15,179 A75101 17,323 613 A75104 345 .15,792 . 17,668 2,931 A7520l 5,204 1,666 A75204 704 688 A75504 60,445 '60;445' , 182,966 138,191 14,480 A80204 49,719 A80901 A80902 A80904 222,160 2,748 24,301 Page 9 1,022 6,216 7,239 219 8,641 8,860 OSC Municipality Code 470379000000 A85601 A85604 A87102 12,668 A87l04 (A) GENERAL Results of Operation POll Detail Expenditures And Other Uses Fish And Game, Contr Expend TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 Cemetery, Contr Expend T():r~Ql:C"l11et~!'Y Mise Home & Comm Serv, Pars Sarv Mise Home & Comm Serv, Equip & Cap Outlay Mise Home & Comm Serv, Contr Expend State Retirement System Police & Firemen Retirement, Empl Bntts Social Security, Employer Cont Worker's Compensation, Empl Bntts Unemployment Insurance, Empl Bntts Disability Insurance, Empl Bntts Hospital & Medical (dental) Ins, Empl 8nft Other Employee Benefits (spec) Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes Transfers, Other Funds TOTAL Operating Transfers TOT.;iL'Detail Expendillires And Other Uses Page 1 0 26,000 75,553 215 858 546,348 812,249 792,897 160,259 24,766 198,205 3,261,660 15,484 527,970 526,735 230,683 27,848 A90108 A90158 A90308 A90408 A90508 A90558 A90608 A90898 A97106 A97306 A971 07 A97307 1,531,369 A99019 505,834 912,756 852,332 154,665 18,962 222,449 3,471,322 33,958 543,040 404,722 215,613 29,122 244,735~ 1,998,841 24,829,186 OSC Municipality Code 470379000000 (A) GENERAL Changes in Fund Equity ~~. 1_ 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 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 Page 11 . ~" 6,007,463 A8021 5,384,699 6,007,463 A8022 5,384,699 22,932,764 24,528,280 23,555,527 24,829,186 5,384,699 A8029 5,083,793 OSC Municipality Code 470379000000 (A) GENERAL Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Non Property Tax Items Est Rev w Departmental Income Est Rev - Intergovernmental Charges Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - Fines And Forfeitures Est Rev - Sale of Prop And Camp For Loss Est Rev - Miscellaneous Local Sources Est Rev - State Aid Estimated ~ Interfund Transfer Appropriated Fund Balance TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 mII",-",,,,,- 16,205,911 80,000 616,000 473,600 421,244 555,000 234,900 127,000 7,550 92,554 2,332,897 3,296,446 2,185,000 Page 12 Al049N A 1 099N A1199N A1299N A2399N A2499N A2599N A2649N A2699N A2799N A3099N A5031 N A599N 17,391,288 93,000 616,670 669,116 322,518 735,000 288,455 165,000 28,500 143,644 2,339,522 3,261,856 2,016,000 5,271;Sse - 28,070,569 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (A) GENERAL Budget Summary 1!1Ii!!I!._r.IM>U:'IICuw Appropriations And Other Uses App - General Government Support App - Public Safety App - Health App M Transportation App - Economic Assistance And Opportunity App - Culture And Recreation App - Home And Community Services App - Employee Benefits App - Debt Service 6,480,095 7,704,283 33,300 526,410 1,091,260 373,870 406,556 6,190,823 1,430,540 App - Interfund Transfer 2,390,965 Page 13 A 1999N A3999N A4999N A5999N A6999N A7999N A8999N A9199N A9899N 6,388,810 8,644,923 38,250 488,500 1,135,950 382,530 460,012 6,891,738 1,317,375 A9999N 2,322,481 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (8) GENERAL TOWN-OUTSIDE VG Balance Sheet - ""!illl~ 821,446 8201 621,397 821,446 62,1,397 58,401 8380 61,567 115,236 8391 267,093 25,600 8480 23,315 1l:1:~!J?"J~_ Assets Cash In Time Deposits TOTAL Cash Accounts Receivable Due From Other Funds Prepaid Expenses Page 14 OSC Municipality Code 470379000000 TOWN OF Soulhold Annual Update Document For the Fiscal Year Ending 2007 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet TQ TO _ __ Illes Unreserved Fund Balance Appropriated c...- I:iij[ ~. ::~Wi'll":"" :_~ Il~QQOftill~ 21,800 B600 15,272 459,000 B910 ,41,3 317,000 317,000 405,960 449,193 B911 - Unapproprlatoiil ' Page 15 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (6) GENERAL TOWN-OUTSIDE VG Results of Operation !l,__. --l.. Detail Revenues And Other Sources Real Property Taxes p,- 492,996 61001 863 61081 660 61090 1,523 229,345 61170 7,166 61289 421,628 61560 12,506 61601 63,300 62110 152,043 62115 47,074 62401 7,232 62590 7.232 6,738 62655 7 62701 90,422 63001 -42,750 63089 'ur-1 407,539 Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes TOTAL Realfih~ i~~e,,!s Franchises T6T'At~~ Properly Other General Departmental Income Safety Inspection Fees Public Health Fees Zoning Fees Planning Board Fees TOTAL Departmental, Income Interest And Earnings TqTAL Use of Money And Properly Permits, Other TOTAL; l.IceWses And Sales, Other TOTAL sa1&;'6ffP'roperly Refunds of Prior Year's Expenditures TOTAL MiliceJlan~!'!I :LO"""I Sources St Aid, State Revenue Sharing St Aid, Other Aid (specify) 728 554 234,091 6,738 543,811 15,800 53,100 50,296 44,654 5,150 2,164 2,164 93,135 93,135 Page 16 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (8) GENERAL TOWN-OUTSIDE VG "flf"'~.!imi-' -, 64,964 38,690 814201 814204 67,401 20,569 87,969 Safety Inspection, Pers Serv Safety Inspection, Equip & Cap Outlay Safety Inspection, Contr Expend 398,903 134 9,134 836201 836202 836204 432,855 211 8,875 441,940 1,186 Mise Public Safety, Pers Serv Mise Public Safety, Contr Expend 1,241 38 839891 839894 Public Health, Pers Serv 7,104 840101 7,370 Zoning, Pers Serv 124,456 880101 139,534 Zoning, Equip & Cap Outlay 150 880102 415 Zoning, Contr Expend 17,681 880104 15,885 155J~S Planning, Pers Serv 366,908 880201 439,907 Planning, Equip & Cap Outlay 880202 1,510 Planning, Contr Expend 14,730 880204 59,735 501,153 State Retirement, Empl Bntts 101,744 890108 93,746 Social Security, Empl Bntts 74,757 890308 84,167 Worker's Compensation, Empl Bntts 8,121 890408 7,839 Disability Insurance, Empl Bntts 20,048 890558 22,369 Other Employee Benefits (spec) 10,323 890898 12,577 Transfers, Other Funds 209,971 899019 226,842 TOTAL Opera!!ng Transfers , 226,942 1,942.1194, TOTAL Detail Expenditures ArId Other Uses Page 17 OSC Municipality Code 470379000000 (8) GENERAL TOWN-OUTSIDE VG Changes in Fund Equity ~"'bU'~-~ - ~ .~!t 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 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 1rm.f,~_.BL"FM Page 18 888,060 888,060 1 ,489,231 1 ,469,097 908,193 88021 88022 908,193 908,193 1 ,457,761 1 ,642,994 722,960 88029 OSC Municipality Code 470379000000 (B) GENERAL TOWN-OUTSIDE VG Budget Summary r.nrt Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real 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 Camp For Loss Est Rev-State Aid TOTAIiL~tlmated Revell"es Appropriated Fund Balance TClTAI2 ESltmatecl Other Sources TClTALEsllmaled Revenues And TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 407,539 Bl049N 809,977 1,300 B1099N 1,400 207,000 Bl199N 240,000 656,100 B1299N 725,100 35,000 B2499N 47,000 5,200 B2599N 5,200 8,000 B2699N 8,000 90,000 B3099N 93,000 1,410,139 459,000 B599N 317,000 Page 19 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (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 ~~~~w. App - Interiund Transfer Page 20 147,289 458,010 7,400 763,179 234,300 258,961 B1999N B3999N B4999N B8999N B9199N B9999N ~'J!.EM._"- 431,100 486,443 7,400 837,089 241 ,242 2,003,274 ' 243,403 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (CD) SPECIAL GRANT Balance Sheet .~ -- 'j Assets Due From Other Funds 5,000 CD391 Due From Other Governments 9,150 CD440 42,236 Page 21 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (CD) SPECIAL GRANT Balance Sheet ~ _ON I "~'[L!__._."',""4"_~~r~","j:;1ilI~'j Liabilities And Fund Equity Accounts Payable 9,150 CD600 42,236 Appropriated i6TA~eserved Fund Balance- EquitY ililles And Fund Equity 5,000 CD910 Page 22 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (CD) SPECIAL GRANT Results of Operation Detail Revenues And Other Sources Refunds of Prior Year's Expenditures 5,000 CD2701 Fed Aid, Community Development Act 41,163 CD4910 210,175 Page 23 OSC Municipality Code 470379000000 (CD) SPECIAL GRANT Results of Operation -...~~ Detail Expenditures And Other Uses Prov of Public Service, Contr Expen TOTAL Prov of pii6!re~it!lce TOTAL HoineAl)~::C;omrilu~itlty Services TOTAL TOTAL Det8l1'j;Xpenditures.Aitd.Other Uses TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 CD86764 e_. 215,175 215,175 Page 24 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (CD) SPECIAL GRANT 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 CD8021 CD8022 5,000 5,000 210,175 215,175 46,163 41,163 6,000 CD8029 Page 25 OSC Municipality Code 470379000000 (OA) HIGHWAY-TOWN-WIOE TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 u. ~1Ifltli'l" 16,929 OA201 Page 26 l!uu:ti o OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (DA) HIGHWAY-TOWN-WIDE Balance Sheet ---- Liabilities And Fund Equity Unreserved Fund Balance Appropriated TOTAL UnteSlf,ved _Fowd Balan...- Appropriated Unreserved Fund Balance Unappropriated 16,900 DA9l0 29 DA911 o o o Page 27 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (DA) HIGHWAY-TOWN-WIDE ~ -16,100 DA1001 -17,500 Interest And Earnings ~"0~~~'." ", _.. :,::,:-,::.: "'-'''''+i~:'.-'0-'':- IOTAL Use of ,M!'>!,1,8l':Arid Property T6TAL 1,107 DA2401 359 Interfund Transfers TOTAL_I_til..!fiih<t Transfers TOTALg,tIle~iources TOTAL Detail Revenues And Other Sources DA5031 212 o -14,993 -16,929 Page 28 OSC Municipality Code 470379000000 Results of Operation Ii...,;", TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 :1!IlII?IIIc_~_.",,-- II!;;gmt'~~""-'1lIl Page 29 - TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (DA) HIGHWAY-TOWN-WIDE Fund Equity ~ Beginning of Year Restated Fund Equity. Beg of Year ADD - REVENUES AND OTHER SOURCES Fund Equity. End of Year Page 30 31,922 DAB021 31,922 DA8022 -14,993 16,929 DA8029 - 16,929 16,929 -16,929 -0 OSC Municipality Code 470379000000 Budget Summary (DA) HIGHWAY-TOWN-WIDE Estimated Revenues And Other Sources Est Rev - Use of Money And Property Appropriated Fund Balance ;,r~~l:,~~~~~,~:~;,"~,^", Eiventl8$~!1d ,OtherSoorces ^'''''<'''''''''''''''' , TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 600 DA2499N o 16,900 DA599N Page 31 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (DB) HIGHWAY.PART.TOWN Balance Sheet tl1!lr" ~~'""~: Assets Cash In Time Deposits -w 1 "557,865 DB201 1.557.865 276,337 DB410 1,193,196 1.193.1.96 State & Federal Receivables TOT ~l,ccState And Federal Due From Other Funds 461,241 DB391 1,260,522 Prepaid Expenses TOTAL P..epaldEicpen;i~ ,-' TOTAL Aesets c ' . 57,894 DB480 52,151 Page 32 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (DB) HIGHWAY-PART-TOWN Balance Sheet Due To Other Funds TOTM:Due To Other Funds Deferred Revenues TOTAL~6tre~jlevenll'" TOTAL L1libllftrJs,~':"' ',"""0","...""'"...,.,""",."'........ Reserve For Encumbrances TOTAL Resent..- Flfr'~C\J1nbrances Unreserved Fund Balance Appropriated TOTAL UnreserV~l;'unii ealarii:e . Appropriated Unreserved Fund'B~alanc~'li~';ppro.p.riated TOTAL Urn TOTAL F '.__.:.' TOTAL liabilitieS And'l' ~.~ - 101,474 DB600 146.552 27,090 900,180 DB691 1,253,005 900,180 1,253,005 1,050,944 1,426,647 129,285 DB821 486,500 DB910 491,000 Page 33 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (DB) HIGHWAY-PART-TOWN Results of Operation """.......gc'...""'...~ . E,;~" 1IEli1""",,,,,~11_ Real Property Taxes Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes Interest And Earnings TOl-AC:Use of Money And Properly ......,.......,.............."...,.................. Permits, Other TOTAL Licenses A1i~ ~eri!iJtS Sales of Scrap & Excess Materials Insurance Recoveries TOtAL sail! of Properly And Compensation For Loss St Aid, Consolidated Highway Aid TOTAL State Aid f6TA~oet,aIl:R-.v~nuei ,j\nd Other Sources Page 34 OSC Municipality Code 470379000000 (OB) HIGHWAY-PART-TDWN Results of Operation ~~~-'t.' WW~~ Detail Expenditures And Other Uses Maint of Streets, Pers Serv Maint of Streets, Cantr Expend Perm Improve Highway, Equip & Cap Outlay TOTALPerm.lri1J?fO"~e Highway Machinery, Pers Serv Machinery, Equip & Cap Outlay Machinery, Gantr Expend Brush And Weeds, Pers Serv Brush And Weeds, Equip & Cap Outlay Brush And Weeds, Cantr Expend TOTAL Snow Removal, Pers Serv Snow Removal, Equip & Cap Outlay Snow Removal, Gantr Expend TOTALll!t~Reri1oval. TOTAf:-TrariSportation State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Disability Insurance, EmpJ Bnfts TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 TOTAL EmployeeBenefitS ,.;~. .;'~:~:.:'^'.':.:';.: .:.....;..,' Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes Transfers, Other Funds TOTAt;:~<;tpeni!ing~transfers 1,198,528 OB51101 1,342,564 359,431 OB51104 672,795 2,015,359 276,337 OB51122 296,263 331,997 OB51301 364,052 289,092 OB51302 204,832 158,712 OB51304 147,375 112,205 OB51401 33,340 184 OB51402 192 80,630 OB51404 83,931 119,852 OB51421 139,503 6,126 OB51422 22,500 94,983 OB51424 129,841 291,844 3;'437,185 230,269 OB90108 214,346 134,837 OB90308 143,779 107,517 OB90408 103,824 42,482 OB90558 48,237 515,106 OB97106 266,000 OB97306 233,000 OB97107 17,652 OB97307 2,656 14,345 452,648 OB99019 561,696 TO'i~clletall Expenditures And Page 35 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (08) 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 Page 36 1,024,926 088021 1,024,926 088022 4,556,949 4,279,482 1,302,393 088029 ,- 1,302,393 1,302,393 4,535,896 4,759,069 1,079,221 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (DB) HIGHWAY-PART-TOWN Budget Summary Il;;oa-,.... Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - State Aid tqft.g~ti"'~tOd.Reven~8'8' Appropriated Fund Balance TOTAL!;!! TO,.A~2~_ .,.,.t 1a:.O""~- 4,045,195 DB1049N 4,316,095 11,100 DB 1 099N 12,700 125,000 DB2499N 145,000 7,000 DB2599N 7,000 263,535 DB3099N 231,332 486,500 DB599N 491,000 Page 37 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (DB) HIGHWAY-PART-TOWN 3,551,380 548,150 247,600 DB5999N DB9199N DB9899N 3,749,227 569,300 266,900 Interfund Transfers 591,200 DB9999N 617,700 Page 38 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (H) CAPITAL PROJECTS TOTALC8sh Accounts Receivable TOTAL Other Receivabjes:(net) State & Federal Receivables TOTAL state And Feileral Aid" Receivable. Due From Other Funds ,.u..... mli0110Jli "ULI 7,809,523 H201 17,105,884 60 H380 11,906 561,225 H410 688,774 688,774 263,616 H391 265,994 263,616 465,859 H440 398,907 Due F rom Other Page 39 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (H) CAPITAL PROJECTS Balance Sheet ~"U..I. Liabilities And Fund Equity Accounts Payable TOT At Unreserved Fund Balance - Appropriated Unreserved Fund Balance Unappropriated Page 40 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (H) CAPITAL PROJECTS Results of Operation ~lAIill~"1 .. Detail Revenues And Other Sources Mise Revenue, Other Govts rol'AL InlillJio~!iff"",ntar CharglOS~ Interest And Earnings 5,824,319 H2389 472,592 H2401 26,000 H2701 H2705 125,000 H2770 3,977,824 H3989 1,116,533 H4097 Refunds of Prior Year's Expenditures Gifts And Donations Unclassified (specify) T9J,4'esMlscellani&ii.'Local Soorces St Aid, Other Home And Comm Serv Fed Aid - Cap Projects Interfund Transfers TOTAL Inlerfund Transfers Serial Bonds Bans Redeemed From Appropriations TgI~::i'iOC'eeds of ObligatIons 217,218 H5031 H5710 1,278,545 H5731 TOTAL Det;tll'E...venoes And Other Sources 6,071,436 658,691 288,354 1,482,853 1,482,853 1,037,948 490,706 14,650,000 1,302,033 16,442,739 Page 41 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (H) CAPITAL PROJECTS Results of Operation 1iDOe11 Detail Expenditures And Other Uses General Govt, Equip & Cap Outlay TOT Ai.cGeneral' Govt TOTAL Gene,:,,1 G,ovemment Support' Public Safety Cap Proj TOTAL Putiilf:"~~';j , __..II. JO\;;J'lI' 186,770 H19972 108,938 108,938 69,182 H30972 610,593 69,182 , 610,593 214,721 H51972 548,273 Highway, Capital Projects Other Eoon & Dev, Equip & Cap Outlay TOTA\;9Iher~E~ll'(['~~v ,', to!AL:E'so'I~mlc::a:S~I$tiiriCe And Opportunity Parks, Equip & Cap Outlay 4,680 H69972 12,707 12,707 3,194 H71102 Sanitation, Equip & Cap Outlay 2,074,503 H87972 87,303 87,303 11,174,948 Mise Home & Comm Serv, Equip & Cap Outlay 11,026,127 H89892 TOTAL Home And CommunitY Services Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 2,083 103,885 H97107 H97307 212,634 84,664 105,968 297,299 TOTAL:'Exp.,nditures TOTAL Detail Expe'ndltures And Other Uses Page 42 OSC Municipality Code 470379000000 (H) CAPITAL PROJECTS TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 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 Page 43 -713,458 -713,458 13,038,031 13,685,145 -1,360,572 H8021 H8022 H8029 -1,360,572 -1,360,572 25,982,021 12,840,060 11,781,389 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (K) GENERAL FIXED ASSETS Balance Sheet Ll\1IiI" -~, _!llil~~",_ Assets land Buildings Improvements Other Than Buildings Machinery & Equipment Construction Work In Progress Infrastructure 60,555,270 11,674,107 16,636,692 13,250,341 13,167,265 72,639,933 ----\1----. K101 K102 K103 K104 K105 K106 Page 44 71,122,550 11,617,232 30,653,120 13,702,767 1,472,196 73,633,446 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (K) GENERAL FIXED ASSETS Balance Sheet _t"" Liabilities And Fund Equity Total Non-Current Govt Assets .... 188,525,828 K159 Page 45 202,401,332 , ~2112 401 332 . M~:";;::;;!:: ^ ',:: 202,401,332 2oi.401,332 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (SF) FIRE PROTECTION Balance Sheet Assets Cash In Time Deposits TOT~~11 Due From Other Funds 86,470 SF201 32,854 56,488 SF391 157,192 Page 46 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (SF) FIRE PROTECTION Balance Sheet Liabilities And Fund Equity Accounts Payable TOrAL Accounts Payable Deferred Revenues TOTAL' TOTA[~[ , Unreserved Fund Balance 12,656 SF600 12,656 Page 47 OSC Municipality Code 470379000000 (SF) FIRE PROTECTION Results of Operation Ie~ --.. l1li1:: \1'- Detail Revenues And Other Sources Real Property Taxes TOTAL Re.l1>t~T.ii'~ Interest & Penalties On Real Prop Taxes Interest And Earnings TOTAL" Use of Money And Property .. .:::........:.::;..:.<.........c.c."...J...>............"'...'::.....:'....\...:....:...........,..::<...:................ TOT Al"DeialJ:ReVe~ues "':pd Other Sources TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 _l:h 458,043 SF100l 499,000 604 SF1090 679 679 5,594 SF2401 Page 48 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (SF) FIRE PROTECTION Results of Operation Coo ~._ -BB~hi~'UE_ ~ ~ Detail Expenditures And Other Uses Fire Protection, Contr Expend 459,705 SF34104 505,140 505,140 Interfund Loans SF97957 44 TOTAl.: Ooial[ExperiClitures Ami Other Uses . Page 49 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (SF) FIRE PROTECTION Changes in Fund Equity _ ~_~~~~!'IIH IlIIIIIllr: 'i~!j~-'-- """""""'tllll!l!\. 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 Page 50 15,111 SF8021 15,111 SF8022 464,241 459,705 19,648 SF8029 19,648 19,648 505,734 505,184 20,198 OSC Municipality Code 470379000000 (SM) MISCELLANEOUS Balance Sheet u Assets Cash Cash In Time Deposits Petty Cash Accounts Receivable TOTAf.'OffiifRecelvable. (net) State & Federal Receivables TOTAL Stale And Federal Aid Receivable. Due From Other Funds Prepaid Expenses TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 """""mIe'__ lJUn ~ 27,665 SM200 16,300 200,345 SM201 345,837 1,536 SM210 1,450 11,646 SM380 64,422 1,781 SM410 933,870 933,870 192,092 SM391 230,879 25,131 SM480 22,299 Page 51 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (SM) MISCELLANEOUS Balance Sheet ,,-, --........- ~~~~~ OUT Liabilities And Fund Equity Accounts Payable SM688 1,081,072 1,081,072 48,346 100,228 SM600 Other fQt~OtherLj.bllitie. ' Due To Other Funds TOTAL Deferred Revenues TOTAL Deferred ' TOTAL Liabilities Unreserved Fund Balance Page 52 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (SM) MISCELLANEOUS Results of Operation roJ'f ..nT1- r,_~ Detail Revenues And Other Sources Real Property Taxes 'tOTAL Reat"lOtoJlerly Taxes Interest & Penalties On Real Prop Taxes "-, III 476,285 SM1001 527 SM1090 2,013,784 SM1289 18,905 SM2389 15,395 SM2401 7,173 SM2450 750 SM2650 240 SM2701 2,619 SM2705 SM3089 20,063 SM4089 20,063 2,555,743 Other General Departmental Income TOTAt'Departmental income Mise Revenue, Other Govts Interest And Earnings Commissions Sales of Scrap & Excess Materials TOTA~Sale of Property And Compensation For Loss Refunds of Prior Year's Expenditures Gifts And Donations St Aid, Other Aid (specify) Additional Description Capital Grant~NYS DOT Federal Aid - Other Tc:l:r~L,.Federal Aid TOTAL Revenues Page 53 672,235 802 802 2,528,512 2.528,512, 18,475 14,037 6,543 20,580 695 695 27,365 27,365 1,107,762 OSC Municipality Code 470379000000 (SM) MISCELLANEOUS Results of Operation i?ffilill:l __ Detail Expenditures And Other Uses Other Gen Govt Support, Contr Expend TOTA'L'OlherGen fOTAL General GovernmenlSO'ppolt Insect Control, Pers Serv Insect Control, Contr Expend Insect Control, Empl Bntts ....otALlr\~~~Lqontrol tgJt(IOHeaiffi' Other Transportation, Pers Serv Other Transportation, Ewuip & Cap Outlay Other Transportation, Contr Expend Other Transportation, Empl Bntts TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 g1___.~~.II<<lI',",.mJ;Jf%\- Mise Home & Comm Serv, Contr Expend Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes TOTAL TOTAL Transfers, Capital Projects Fund 130,911 43,257 56,062 3,878 1,066,158 346,371 506,418 332,474 2,251,421 11"~'''.~ SM 19894 SM40681 SM40684 SM40688 SM56801 SM56802 SM56804 SM56808 18,602 SM89894 150,000 SM97106 SM97306 107,561 SM97107 47,306 SM97307 SM99509 Page 54 193,249 193,249 19,3;249 49,619 29,518 4,200 1,153,301 1,520,581 569,965 332,711 3,516,557 16,405 16,405, 150,000 125,000 96,575 57,075 153,660 4,298,199, 133,925 OSC Municipality Code 470379000000 (SM) MISCELLANEOUS Changes in Fund Equity Il..'~nn IUI ! I~.;.., 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 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 Page 55 .-~-a_F ..- 464,155 SM8021 210,899 464,155 SM8022 210,899 2,555,743 4,376,426 2,808,998 4,432,124 210,899 SM8029 155,201 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (SP) PARK Balance Sheet 412,821 SP201 480,483 480,48~ Accounts Receivable 150 SP380 95 95 Funds 108,472 SP391 283,344 TOTA!:.Du.. From Other Funds Prepaid Expense 1,015 SP480 Page 56 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (SP) PARK Balance Sheet "'" ~I< Liabilities And Fund Equity Accounts Payable TOT.o\I..ACcourits.Payable Due To Other Funds ;--.---.-- 22,935 SP600 Deferred Revenues SP631 6,742 8,742 5,726 5,725 11,415 27,026 SP630 TOTA,I,1i~ -':0, O~h_.! F~nd. - Due To Other Governments Reserve For Encumbrances TOTA':Rlts.rV..to~~ncum:J)rance. .' Unreserved Fund Balance Appropriated Page 57 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (SP) PARK Real Property Taxes ~!ACReal propertYiaxes Interest & Penalties On Real Prop Taxes TO"~R"Ol.I Properly Tax ltams Interest And Earnings TOT...t;~~of Money And Properly Sales of Scrap & Excess Materials Insurance Recoveries TOTAL Sale of Properly And Compensation For Loss Unclassified (specify) TOTAL Mlscella~~us Local Sources 0'11"1 909,727 SP1001 958,222 958,222 597 SP1090 1,304 1,304 61,428 SP2401 35,031 SP2650 2,100 SP2680 18,070 SP2770 58,259 TOTAL Detail Revenues And Other SourC\>s 991,922 Page 58 OSC Municipality Code 470379000000 (SP) PARK Results of Operation ~IS' "" Detail Expenditures And Other Uses Parks, Pers Serv Parks, Equip & Cap Outlay Parks, Contr Expend Parks, Empl Bnfts fQf~~!,~rks fbf-.\t4.ColtlJreAnd.RflCreation Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes TOTAL Debt Principal Debt Interest, Serial Bonds TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 :I,u :::hn, ToTAL Debt Interest Transfers, Capital Projects Fund TOTAL DetaltExpendltures' Arid oilier Page 59 !l!IIi2P~ ua - 341,906 SP71101 338,624 207,699 SP71102 135,542 284,713 SP71104 335,794 48,566 SP71108 44,139 45,000 SP97106 SP97306 50,000 4,867 6,229 SP97107 58,000 SP99509 58,000 992,113 908;966 OSC Municipality Code 470379000000 (SP) PARK Changes in Fund Equity ~a:.1J 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 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 ~1l!._ Page 60 CII . 311,036 SP8021 311,036 SP8022 991,922 992,113 310,845 SP8029 310,845 310,845 1,052,816 908,966 454,695 OSC Municipality Code 470379000000 (SR) REFUSE AND GARBAGE Balance Sheet -- ~nDtm"" --. - .~, Assets Cash In Time Deposits Petty Cash Accounts Receivable State & Federal Receivables TOTAL.:State And Federal Aid Receivables Due From Other Funds TOTA,L-l5ue From Other Funds Prepaid Expenses TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 Page 61 779,449 SR201 400 SR210 126,539 SR380 79,607 SR410 344,865 SR391 40,985 SR480 40,985 565,988 400 104,562 10'4,$62 640,802 54,422 54,422 1,355,174 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (SR) REFUSE AND GARBAGE Balance Sheet ", pt... Liabilities And Fund Equity Accounts Payable TOTAL AcWilnlSp .. able . ..~.. ay .. Due To Other Funds TOTALliujir~~1:QtidS: ....... Deferred Revenues ~",~- aliIiE_--"" 280,717 SR600 169,278 610,241 Reserve For Encumbrances TOTAL Unreserved Unappropriated To,Ar,'uj1j9si!ll"d Fund Salance TOTAij:)iilil'E:qUliY . TOTAL Liabililiel;.Ahd Fund Equity 1,371,844 Page 62 OSC Municipality Code 470379000000 Results of Operation I lm_ ..:t'~I~' ~~L~:-_8;;j Detail Revenues And Other Sources Real Property Taxes TOTAi,.:f{eal Properly Taxes Interest & Penalties On Real Prop Taxes TOT~i;~!al ProPerly Tax Items Refuse & Garbage Charges TO'r~],;D.parf!fl.ntar J"como Misc Revenue, Other Govts TOTAq~g,iernm.rifiir Charges Interest And Earnings (SR) REFUSE AND GARBAGE Permits, Other TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 Sales of Scrap & Excess Materials Sales of Equipment Insurance Recoveries Refunds of Prior Year's Expenditures St Aid, Other Aid (specify) TOTAL Dei8I1R~vei\ues And OIherilources 2,331,033 SR1001 2,419,362 2,330 SR1090 3,290 1,606,052 SR2130 1,498,230 1,809 SR2389 905 86,847 SR2401 66,588 156,548 SR2590 164,188 128,924 SR2650 214,273 SR2665 18,000 1,600 SR2680 12,576 244,850 45 SR2701 73,265 73;2ij! 79,607 SR3089 Page 63 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (SR) REFUSE AND GARBAGE Results of Operation - Detail Expenditures And Other Uses Refuse & Garbage, Pers Serv Refuse & Garbage, Equip & Cap Outlay Refuse & Garbage, Contr Expend .-,- 960,588 441,020 1,999,046 State Retirement, Empl Bofts Social Security, Empl Bofts Worker's Compensation, Empl Bofts Disability Insurance, Empl Bofts 111,220 72,734 49,349 22,080 TOTAL"Emj>loyee BenefitS Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 225,000 485,810 - SR81601 SR81602 SR81604 SR90108 SR90308 SR90408 SR90558 SR97106 SR97306 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes Interfund Loans 46,379 SR97107 125,443 SR97307 138 SR97957 TOtJi.L Debt Interest TOTAL EXp8ndltu(&ll Transfers, Other Funds 958,730 120,570 1,796,013 2.875,312 2.875,3~2 103,652 73,305 48,480 22,853 234,098 539,311 773,409 135,091 178,590 219,174 SR99019 307,962 Page 64 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (SR) REFUSE AND GARBAGE 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 973,427 SRB021 973,427 SRB022 4,394,795 4,757,9B1 610,242 SRB029 610,242 610,242 4,470,676 4,518,655 562,262 Page 65 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (55) 5EWER Balance Sheet ~1P.11n. ~-- Assets Cash In Time Deposits TOTAl Cash Sewer Rents Receivable tOTAL Other Receivables Due From Other Funds 1,259 55360 278,601 278,601 1,144 1,144 1,522 255,821 55201 11,952 55391 Page 66 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (55) 5EWER Balance Sheet ~~--.~ - Liabilities And Fund Equity Accounts Payable 11~,.._.im1il.._._!ll!!!] ___.!UI!M:lII- 76 55600 2,882 173 55630 4,056 55691 1 102,300 55910 162,427 Other TOTAL Du';To~~\jii"lf'-; Deferred Revenues ^:.:'.'''.''''.:,.'. :- "'::+i::':'C=.:':':-"':" TOTAL Deferred'Revenues TOTAL Liabilities -- Unreserved Fund Balance Appropriated TOTAL Unreserved Fund Balance. Appropriated Unreserved Fund Balance Unappropriated Page 67 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fi5cal Year Ending 2007 (55) 5EWER Results of Operation -....... --~~~...~Jr---'I Detail Revenues And Other Sources Real Property Taxes Special Assessments .K ]~--~- 22,790 551001 18,296 1,614 551030 1,614 32 551091 27 27 44,563 552122 29,312 44,563 29,~:f2' 11,366 552401 13,629 Interest & Penalties On Spec Assessments Sewer Charges TOTAL, Depar1mentallncome Interest And Earnings TOTAL Page 68 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (55) 5EWER Debt Principal, Serial Bonds TOT~p)ebt Principal Debt Interest, Serial Bonds TOT ~L Def8i1~ Expenditures Page 69 22,406 5581304 2,030 5597106 405 5597107 49,847 1,960 355 52,162 OSC Municipality Code 470379000000 (55) SEWER Changes in Fund Equity ~.JtIUI.l'JI TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 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 Page 70 l\M_~'cm!BJ~OD 209,203 558021 209,203 558022 80,365 24,841 264,727 558029 264,727 264,727 62,879 52,162 275,444 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (55) SEWER Budget Summary ___I Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Departmental Income Est Rev - Use of Money And Property 18,296 20 19,700 8,000 SS1049N SS 1 099N SS 1299N SS2499N 3,245 20 30,700 9,000 42,965 '~':', 90,250 Appropriated Fund Balance 102,300 SS599N Page 71 OSC Municipality Code 470379000000 (SS) SEWER Budget Summary Ii;. 1A"'P"nn1'ln- ~~J" Appropriations And Other Uses App - General Government Support App - Home And Community Services App - Debt Service TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 , 'Imilm: H 5,000 141,000 2,316 Page 72 SS 1999N SS8999N SS9899N 'l\HJ:B!Um: 8.900 37,100 87,215 133,215 133,215 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (TA) AGENCY Balance Sheet rry <>>."-,,, (~:l- 1_'1 Assets Cash Time Deposits ~MoaeJil~!lE-'-f;-JU", -. 8,411,898 T A200 5,111,920 902,299 TA201 615,929 5,727,848 12,601 TA391 25,484 59,504 TA489 0 5,753,332 Due From Other Funds Other Assets Page 73 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (TA) AGENCY Balance Sheet TOT4( DUe Tf> Other Due To Other Governments T6TAt~Due,!~1>t~e'r.Gov.iiin'.e,:jtS. Income Executions Social Security Tax Guaranty & Bid Deposits ~- ,i!!liF". 117,647 T A630 34,367 34,367 8,151,228 TA631 4,860,763 307 TA23 TA26 363 1,117,121 TA30 857,875 Page 74 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (V) DEBT SERVICE Balance Sheet ~~ef" 1[1 ~ r ~.!_t:Hl~i;-~- --~~j Assets Mise Current Assets ~ ..-- "'(In.., 20 V489 o o Page 75 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (V) DEBT SERVICE Balance Sheet _~.. . .~, ,. ,___m Liabilities And Fund Equity Unreserved Fund Balance Unappropriated 20 V911 Page 76 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (V) DEBT SERVICE 15,926 V2401 o Unclassified (specify) 1,049,817 V2770 jj)P!E)~~!nues, TOTAeDiWI:l'!QvenueSAnd Other Sources ...........="".M........-c... Page 77 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2007 (V) DEBT SERVICE Results of Operation A_._ t:.... ~~~~: Detail Expenditures And Other Uses Debt Principal, Serial Bonds fill !1~ TOTAL DebfPrJncipaP! '. Debt Interest, Serial Bonds Repayments To Ese Agent Adv Ref Bonds Page 78 V971 06 0 27,123 V97107 27,123 27,123 1,038,600 V99914 20 20 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (V) DEBT SERVICE iliIli~_'_fl 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 Page 79 1,065,743 1,065,723 20 V8021 V8022 20 20 20 V8029 OSC Municipality Code 470379000000 (W) GENERAL LONG-TERM DEBT Balance Sheet TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 ~: . Assets Total Non-Current Govt Liabilities ~~ 17,824,759 W129 Page 80 32,127,815 32,127,815 32,127,815 OSC Municipality Code 470379000000 TOWN OF South old Annual Update Document For the Fiscal Year Ending 2007 (W) GENERAL LONG-TERM DEBT Balance Sheet IzL ....oliQlltl __ -~~~~""I!t'I"IIIl'K~'W'di~ liabilities And Fund Equity Judgments And Claims Payable Compensated Absences ~.. 6.475,661 6,475,661 11,349,098 W686 W687 136.418 6,971,397 7,107;815 25,020,000 W628 Page 81 OSC Municipality Code 470379000000 TOWN OF South old Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit :Elond Anticipation Note No. 2005000001--~EDPCODE " Amount Month and Year of Issue - - -- . --- j. . ---~ .~4722i2005 'Purposeof Issue __~____n _~___ .T______,QEC LegalSeltlemen\ ~;~:~~~~r~~g~n~~g_C)f Y:~r-~- .-. · _n==m-~[2~1~~.-ic-~~~-4i5~i&~ ~~~~ig~~~~ . .~. .~I~p.~.;1~8:7:6-:7:=-J~r==I. =_- 475'~0-~1 Outstanding End.C)f the Fiscal Year ~__ Final Maturity Date__.______n__~_ ~,~__ ]11 u_ __4/22/20101 u I Lu _ BondAnticipationNoie No. 2002000002- ---JE:DPC()gE]i- Amoun! Month and Year of Issue ~.~.__.._ .. . ---- L_====r- .. . . 8/30/2001! Purpose of Issue ._~__J_~___. ]>ickett Larldflil. Qlosurei CLJrre_~U~terest Rate _==-==:J------03~ O.':lts!i3.rldl~~LI3~ln_n.i~9 of Year______.12J"18761. 560,000 Issued During the Fiscal Year___ .l____ (do not include renewals here) 12P18763_ ____0 Pi)id[)uringtheFiscal Year ------ I... ..... "_ _.(donot includerenewals here) j2P18765 'i- 200,000 ()utstandinll End of ttie-Fi~Eal'(',,~r ----=-=-- ~-p76.L:~_-- 360,00-0 Fin,<Jl)v'laturity Date..____ _ . .. II 3/4/2()0~ n ---=-=====. .. _______L__ II ' ~ci~~hA;~~~:~~~f~~~:~o 20()400000l::.:.-- ---------- JE[)~~~DE1~ 4/~i2~~ Purpose'of Iss.ue n _ ___ -----===--J.... Ilet Sweep.EJrlJ"i)yloade Current Interest Rate - - ------~--r U . II . . ---- .0375 ~i~s~~n~~~~n:~~~n;::~a~~::r-----_--.--=lp-~8761-1F __ 143.c()()01 ---(do notinclud" renew2.~__here)--"--- .---I~~1.E~3:=1__.__________~ Paid During the Fisca.r..year____ ______... 1 ..........L_...__...__._J - (do not include renewaiS-here) .. . J2P18765 -. 62,000' Outstanding End of the Fi5calYear---.-- - ]ZP18767, ~---81:Do-o 'FinaIMatu-rilY Date _______ [_---.~,--__ .___41,?3/2,009, .n .. 1_ t -. -------- Bond_~~ticipation Note No,J.o_Oz.O.oQ. 0._._.0..2.. . [gpPCODEII. .:___l\rTlClun\ Month and Year of Issue--.----.-I~ . . . [' -.. ..-4126/2007] PurposeoTiss_ue-- -. ...n L .....~.nliAirVac p.':a.in.c:I.eane~ ~~~~~~~T~~~~g~~~9.0f~Y~ear~---u-- 1~~~8~61'~~~~-::=:===- .-037~ Issued During the Fiscal Year .:____-~~~--=~---- -:=]I~=_Jl_~u .... ::=J _(do not include renewals here). - ---.Ef>.l826_3 r . . 278,0001 PaJCiDuring the Fiscai Year=:=:'---- m=-_____- I .----=____ n__J (do not Include renewals heref---- ------ - I2p18765 ~~ ----- ()utstandlng End of the FlscalVear'- u =-=-~~~~__J2P1ii767 __ ~ __27~!~.o.g Final Maturity Date _ ___ _ __ ~ _ _ _J1 4/20/2012 --:1_11. Page 83 OSC Municipality Code 470379000000 TOWN OF South old Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit r~~~~hA;~~T~:~~~f~~~~~o 2=~0~~000~2" '___~__IEDPCc5Jl~F______ 9/~2~206~n~ PurE().s~.()f_l~sue . r .-- '!Brushes Creek Bridg~ Current Interest Rate ---=-~-':"-..._____J..."._"". L' ._ .01351 9Utstanding Beginnin!lofYear _ ____ __12P18761 '1 _ 91,0001 Issued During the Fiscal Year T~--~------l' _____1 pa~()g~I~~~~ued~ii::j~~:rhe~::~~==~------~-~-~~J~1~~63 'II -.-.,:~~0=:~ "._ (do notincluderene.'N3~,here) _~___ .. --1?E_187~LII____~009 Outstanding End of the Fiscal Year . __~_~____,~__12:~187~L__ _~____~ Fi.n~l:aturity_D~~ ________-=__==---f,,-:+ _ -~--_ __ 9/12/20~ Bond Anticipation NoieNO;:2:0Q7000,Q04 -- .., . ,'lEDPcbi5:E 1[-: ....'. AmOUrii Month and Year of Issue__ m ___,.___,___--.Jc:__~mr---:~=::9/7!300"7 PurpOSE)_oflss~el -~_J[h~~ad Improv~ '~I,lf~~~OjtE)_ II ---11-0395 ~i~~~~E~,_~~;~=:--,;;;@Q _(dC>.!:l()t_i~cltJ~e renewals here) I~P18765 (-_: i OlJt~~<l!1dil111E:ncL.oftheEiscal Year .::=~~~= _:J~P18ii3i-----~150-:aoo FinaLMOjturityj)ate _,__.T-- ,,- 9/7/20121 _~_~~---------T:=__~=:-: . ",____1 Bond An_tic:ipationNote t::J.Cl_~Q06000001_IE'D~g(5Q.E'_ ==!lr:n~~ Month and Year of Issue _ 1 ,r .m 9/8/2006! P_u.r!l()~eOtTssue---- .=:~:,___, ,-. -T- -... " ,lmerQency Generator~ .~~~ii~g~~~;~~~~a~~~~~, .- ..-_--=:- -- ,__::_-:~~:;j61.,T==-====-~~~8~1 , _ (do not include renewalsh_erej I2P18763 II ]] Paid I)uring the Fiscal Year ..' _-::----~~_c~=r--..--:.=::..J (do not include renewals here) _ -:._ ----~'!.8765 11-____ _____ 5~oool 6utstanding_End_()f.theFi~G~1 Year __XHl767..J" ___ 120,000 FinalMaturity Date________:!, . '.,.::.n, ...J-___- ___=/8!3~11: Bond AnticipitiOrlNote No. 200"QOOQ02, .___. ..m__ ...IEDF'c:6bE:~_________~=-6r:n<:>~!l1 Month and Year of Issue ___. il._m_.]....._.__~_1 0/2001 Purpose of Issue . ___ !I . ...... m__J[_~n~fiIIEquiprnen C;urrent Il1t~re~!B<l!e____ .. . _ .. . il.... .... . ...... -"1------- --.0395 ~~~~~n~~~~n:i~~n;::;aT~~lir~~-[j~f1~"76~=li, .. . m _379,000 _. (cionot in~lude renewals ,here) ... ];2P18763 -r---.' 0 m...rr-~~-~~.---- F'ilidguring the Fiscal2'ear__ I (d_o_ not include rene",,:alshere) _ j2P18765 OutstandinQ..E:nd of the Fiscal"r'e.ar_.---.:=[[[-- . W>1'8.ilfi-._m__ . Final Maturity_Date ..__ _m . I 109,000 270,00(1 9/10/2009. ..--i Page 84 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 20'0'7 Indebtedness Not Exempt From Constitutional Debt Limit Bond Arl~cip~l!~n }i<?!~U'.j~_2aQ3.Q.oaaa4 1\i1()f)th and Yearof Issue P_l,JIl?g~!!O!~_..... Current I nterest Rate Outstanding Beginning of Year ~ssued During the Fiscal.Year (do not include renewals ~!:e).. 'Paid During the Fiscal Ye"I"._._. ..! ~o not include renewals here) Q.u!~tandingJ=rl.l!..()f the Fiscal Year Firlal..fII1aturity Date .__~~~ ~~~~h~~~i~:~~~~~~:~O 20'030'0'0'0'0'3 !EbPC6bEii . ~/~2~20~ani .f'.!!IJ?.9~El~()f Issue_.. .... ~~_~..I~.~_~=] Strawberry Fleld~ g~;~~~~~~~~r~~g~n~~g of Yearn--- m nn F1~761Ht~'__.~--8~~~ ISS(~~dn~ff~~~u~: rei~;~a~se~:re) ---~P.i87631". d f'~~~J1.gthe_~~'l'ear ._ _...:=_L....... .l-.-:"___.J (d_o not include renewals here) ... . - ._nJP18i65'I~-~~-m.4b,aaal ~~~!igrTiyE~~t~fthe ~:~'-'(~:_==--:==.~ _nnn rf'18]6ZT - .~911~2~~8 .. .l._n--':]:::~. I Bo_n.c!Anticlpation Note No 2aa4aaaOQ3. ___.J~pPCODE[---.. . Amouni MOrl!~andYearoflssue..~~ ... . J~~'=.l_.._ ..__~1a/2aa4 f>urpose oflss~_e____._ m_.~~L... II "Town.l-lfjUJ',nne_xll, Currentlnterest Rate .....-.--.---r- !L. ... ..... ..039~ ()~.tstfjnding Beginning of Year ____n_._.... J~P18761 . Ii. .. 80',0'0'0'] I~S(~~dn~~~~~~u~: :e1~Z~a~se~:re).. .__ . -11 P18~~ .F~-~==:::~~'~--~ pa;~~~~~ni~~~u~:ii~~r~eri;j--,'jb~eJl_ _.--_........30,O~ '~i~~ltt~~TtyE~~t~~ the Fls::~.~ear ------~--.__..-Ir=~~:::~:::----~!!~!ig~~ Bond Anticipation NoteNo:2Oo3000aa1._____m]EDF'.QQ~L ... n Amounl ~:r~~S~n:f ~s::eOf Issue _____.. .-+---1!NeW_London9~~:~~~~! .Currentlnterest Rate -.-.---....... . . "f ---nil---' .... .0'370'] ()utstClIl.ding Beginning of Year ---._1~18Z~1_i~___~___!~6~~,Q.<!'~ Issued During the Fiscal.2'eil.r..n ____ I. -Ji. ._....____, . (donot include renewa,!,hereL.__ . JZP18763 , 0' (."~"~~~._.__.~'-- --- -- Paid During theFisc:aJ.-"'El~r .._._~~.~_"_ I n _~~___ (do not include renewals here) l2.p18765 125,000 Outstarlcilng End of the Fiscal_Ye~r~. . "~~~----12P18i137 ._ _~____~ 50a,aa() Final ~CI!urityDClte~... . n__.~~~'~_. .1- -..~=._ 9/12/20'0'6 1_ J _ _ IEDPCODEr~~Amouni . ---~--~-r==-=JI.- 9/12/2.()031 .. ... ] .____LHigl1'NayEguipmenl ~~~_~. .....~J~1 ~~:..-1t---=~=--16()~~1 __~_._.~__=j~~~~3_ F-~~___Ol ---1~:r~~~~ 1f _n_n.. :~:~~] --~-_.:~~-=1i-~-~I..'...-'=-~~~~ Page 85 OSC Municipality Code 470'3790'0'0'0'0'0' TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit . ..~.- ~ - - :ED~~~DE I 91:07200uO~ , .~~ .____. _Ln __ ..11. Police ~(:;<l! Camera ~ ~" ~-~--=;e7~jE~"~~--8~~ .._--~~-~~--~.-~~~=~~~ I~---:--~ ---~.~--=:=-:-~==~~~;~~ It= ~~:~~~I - ~ ._1. ~,~~. ._Jl~ 9/1 0/~009 __=r_~_~~. .11 . .. ~.~_.~____ ~~~hA;~~IY;~~{j~~:~oI6QiiOO(jQO_5__~ ~---- '-=___~~:~~~I... .. ~~--l77iouonj f'lJrpose of .1.s_~lI~__.._._.._.._ ______~ ..~~ I.. ..... ..~ ~.....~.J[he?ea_Ro?~ll11prov Current Intere_s.1R~te~~~_m_._. _~_- ___mum ~P18761'':'.~II~.. -._.~.~-,=~9.=li, OU,ls,tanding Beginning of YEl~~_.m"_ _ n .t.-~ ~ . ~ ~ Is!>u.El~QlIri!"l~U~_'?fi.scal Year __'_..n_l_~___~~_~_..II.~.~..~.. ~..,.~.~ I ~ (do not include renewals here) .~.~---. _... ~rp1?X63__If.---- .,..____JO_.,QQQ.II Paid During the FiscalYe?r _ __u__ n.. ~ __ l ~ (do notinclude renewals here)m n.. . .. .... ~P18i65]r------.. ..... I ~i~~t~tt~r~lY~*.the Flsc~I_~e:~~..--~-~--~-__:==_-r~18~=~Jl~_~' ~~. . ..:....9~f~~~~1 Bo_ndA~ticipation Note No. 2005000002 ~__~_.___ .JEb'p~()[)EJ[-----nAmoun 'Month and Yea.~ of Issue -------- ~-~,ll-...----.~~Jlf-e.r~--s..t.a.t-,:o.~.n. .E4x/2p2a/n2s01'005n.1 IF'lIr,pgse of Issue ,Current Interest Rate ---~~~--T'-'~'--'~-T--~--~~-'~:O:Z641 Outstanding Beginnin!) of Year . ~ . .~. ~ _-mj~,~1,?j6(]___ ___ 3,125,QgOJ bsued During the FiscalV:ear ... . ~ II ~. ~ Ilm._____J . (do not include renewals hElrElL________~_________~,_,_eP18763 1= _ 0: Pai!lDurin9lt1?f~scal Year _... ~ ~._.~..~.___L~..~~_..~_~JI.. ... .. ~.. ...~ 1 ~.~~i~;~~:~iit~~ihe:;il;;;j~ar--'~~-.~ '----:~:~_:--::jf~i~~~;._.Jl ~_.~.~-;~~:;;:~~I _____ un __ mn______1I . II Bon(ff\ntici~iltiol1 Note No 2003000005 ~ mn----l~jjpcODEII .~..... ~ Amount Month and Year of Issue.__~L_:::r: ..~~.._g~)_?!~Q03: Purpose of Issue n_____ I' ~ .Ii Ma.l1aj1e_ment_Sy_stem; <:'lIr.r:entlnt~r,~tRatEl ,_____ _____~. ___L ~ ._... . ~.. Ii ~ :---0135' Outstanding Beginning ofV:~.<:lr_ ~ -121"1 8761 ~ II' 20,000 :i~i~~~~;~;;t ~:=~~~~~ FiT1<:l1 Maturity Date ~~_____~ .~.. .~ u T m_~/_1~/200il u. ~ l. ~ :~-J--n ____ I Bondl'nticipation Note No. 2004000004 'Month and Year of Issue ~-~~..~~.__. ~_.. Purpose of I~e.._ Current Interest Rate '()lI~tanding Beginning of Year Issued During the Fiscal Year (do not include rene,^,;;JI_s~ here) Paid During the Fiscal Year e. (do not i-nclude renewals here ) iQu.t~t<:ln~ing End of the Fiscal Year Final Maturity Date Page 86 OSC Municipality Code 470379000000 TOWN OF South old Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit 'Bond AntiCipatrori-NoteNo20a7aa()0()6 ... JEDPCODE~-Arl10uri\ ~~r~~S:n~f ~s:a:eOf~ss~e__~==---.-~-. . ....J~~:.~ .... ....... !lnir11<l~/;~2~: :g~i~~~~\~~!f;;90f Year ....... .... .... ... ~~n--:-J@'=~826~+----....~.g~.95, Iss_u~(jDuring the Fiscal Year . n . '__.~L _ ~ .. . _ .m~ !pa;aob~~~~~~~ue~i;~i~:~tere)-~-__--~-~ .................._]E~63 J[[=~~~~~.~~'~ .._..(d6-not include renewals here) . '.__. ....nlgPJ8I6.5-T.~--..__...._~1 ~~:t:~i~~tYE~~t~f theii~calYear '---~__--J~~8767 --t__ ~~_ 29~~~2~~~] _ .___L .. I ---______13 .~~~1~A;:i~:~~~f~;~~1().()~Q.()aaa6 _ __~--...-1EDPCODE]I.~:~f;~~ Purpose of Issue - . -----. '-'.~-I - HRC Improvements Current Interest Rate ~~-_::_:~ --:-- JJi--P-18-7-6::1 JIII-- -. __ _ - -:_-4-_-a-O,-a1)a~a iQutstan(ILn~~9l!1_n.ing of Year ~.. ":J .Issued During the FiscalYea.r. iii ] ! (do not include renewals here) _ __ __' _ _~-- --~~f:1~L .. _ _ 0] Paid Durin~U~e Fiscal'(e~r. L:::J::~L__...._. ...___...._._..._J [~~~~;"===-j~;;J--~ Bond Anticipationr\jol(l}io 2aa1()aaaa7 . _ :~15f:CC5C5EJ[=-- . Ar11oun~ Month and Year of Issue I II 4/27/20011 Purpose of Iss~_El__'m _ _u_ _ -- -J-" n][n~LandDEl\Ielopmenl .current Interest Rate - - -- --- .'. 1_____1_:::--.:_.:::.__03601 Outstancjing Beginning of Yea~~_____._ '~lifP187~~~ .. ... 2, 165l.o..o~ Issued During the Fisc;iJL'l'Elar_______ I I j pa~?5~~!~~~~~;!l;~.~re):.:~:~~..-.]r-f8~fjl--.n------____01 (do not include renewals here) .---_:::.:::.:::-_J~P18765_I=____ 2,165,()oal I~~~~;;;~~ty~~~_!~f the~i~:~~..=.-.-.. "..'." ---....... -.--IrJ:~~;~Jf.--.-.::~~I/~~ ~~;,1jt;~i~i~:~~~f~~~::0200i060aa7...~=:~:==__JI2P-c:()I2'[~.~ -~~~~-1'2f5T200u6~ Purpose of Issue u_u uumLm_____Je.rDistlrnProvernents C~l!I"~l).lJnter.El.st Rate.______ -]I - .-.-L__::______~:~__::Q~~[i1 ~~~~~n~~~rn:~;~n;~ai~~:~r .. ____ ...... ..... ... ....... ......~. .......: j~=:8761_ J .... ".. .1 pa~9.D~~~~~~~~j:~:r he~~~~~~___:t~~~3 . L=-=~._=--=~~~Q~l .1d.o..!1ot include renewalshere) ... . .u.n_J~P18765 l._._.u~~~~~~__ j 6utsta.n.dingEI1.cl.?.!.lt1Elfisc~:'Yeai:'':'''__..___.___.nJ3.P2~Z~L.L . .' u. . 125,aa~ Fin?J.Maturity Q.<ltem ... ..n. . ... .. .. _ '__:::~:-I:mn] . __.._.,!!~()I2a27i Page 87 OSC Municipality Code 470379000000 TOWN OF South old Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit ~ODE, --- ~l11oui1l.. . - L Ii 4/25/2003 _ L- '--::'::"'JI Compost Land --~-~.~~- ~- -"~P1~~~-T~ -~. --64~ ._-~~~-._-+ .1 =.-liP187~3J[' ,..,.. '.,...... 01 ,...-------~~:u_J~~l~~[J_~...~:,~.. 645,000 n~1f18767 1-~" 4i27/206~ ~~:t___~___-~l.' , '_______I BO!ldAnlicipation N()te_No~:z<5030000Q9 ......___:J[EDPCOD~I_ _.__~_6mounj ~~:s~n~fl~~:f ISSU~_ . . ~~_'"_n ,. .'t':___j~rffing 5L p~/r~r~~OLOoj Current Interest Rate . 11 ...11. ' .03751 ,Ol!!standing Beginning of Year_J2P18761 66,QQO ;;~~~~~~:~i::~~:~:~:re)'."'" ..,.,......::.:.......rp.18i63-(:---._....J___==~~ (do not include renewals here) . - . --~.- .-" ~P18765 IC. .-..__:.46,0001 Oulstanding End of the Fiscal Yea~-~--'-___ --j2"P1876z.1- 2-6~000 Final Maturity Date .~_.. "un___ ..:___[---, ,.. J-____:"=___4/=~20081 l~b~~t:~~i~:~~~~~:~Q26b70000()3- ,." .:~._--------- -1!EDPf.9D.~!:=~-- 41:~Uj Purpose of I~!:,~_. ---.----.- I----=-=c::enter-Imp.r();;ement~ -- ----- I -=------~.-.__. ._.._-~_._--------_.._- - Cl,!rr~nt Interest Rate .' ___~_..__. _. ---j;,___ _..__L .037~ ~~(~~~:~~:!~t~:n5~!~a~:;~:e)------.:-;~~---~:::~ ~~'::'-=;~-~O~ Paid DlJi"ingthe FiscaIY~~~ ...~__'-- ..t:ou.-::JL___---- 1 ,(donot include renewals here)..,-. __J.~ 22Pp.11'.'8f!...77-66.-.75..-.-r-. _____.. --I ()ut~~a~cl.Lng End of the Fiscal Ye;jr. ,@:I_ ", , _ 200,000 Final MatUrity Date .i.. _ ' .'----_______4!?0/2.Q.1? [ " .~__ Ii I Total BonifAnllCipation.N()te ___.. -. ........'.' -."1,1. - .__Fe'..'..." ----9--,..9~1-1Tl4.o,'O.!:l0r1ojl. ~~~~~n~~~~n~~-1f:;~~~Zear . ... ,..-___-.."--"IF---._~[-__~,~73, 0001 P;jiclQl,!ring Fiscal Year~'=-- .~-~___~m 1 .--T-~______.i,343,0001 Outstanding End of Year ... -=-- , .~.l~_...... !~_6-'?4},6ob' *** BOndAnticipation Notes Redeerried.'~ T-". ... .-~ Frgm BondPr~ceeds During Fiscal Year j2P1.a.88'5'-r:~ 6,040,!j67 Bond Anticipation Note No. 2003000008 MOnth and Year of Issue - . ~~--- I'.~~pose of Issue.. Current Interest Rate Outstanding Beginning of Year !ssued During the Fiscal Year c- (do not include renewals here) Paid Durir1~g the F:iscal Year~ __(duo_not include renewals here) Out~!~nding End of the Fiscal Year Fir1~I.f.,.,.aturity Date .__~~__. Page 88 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2004000008,--.... -~~~_j,IEbPCO:=J~g]I----7/~~2~uJ ,Mont), and Year of Issue ...........-----1,. l:-:::::::,-~-'_==-o ~~~~~~:I~:e~:S~eRate ....___~_,,_I.....-...,......II....---~L'!~dfill C~1s~6~ iO,tltstan.cli!l.g Beginning of Year .3P187ii--j!. 3,344,0981 ilssued During the Fiscal Year , (do not include renewals here) f.P18773 Ii 0 [paid During t~E! Fiscal Year u_~~~_. .,_, '.:::.:::.___ .L__,_~~____~j (do not include renewals here) ... J;iF'_1?775 II. . 234,0~ OlltstandingEndoftheFiscalYelar ..' . . j2P187irL. .3,110,00q Final Maturity Date I__~____ '~=-.--~i . ._m~3C=--!/~~ [Elond No. 2000000007 ---- _ .-. lEDPcb~EI~::-~---' ... Amoun rvlonth_and Year of Issue mn---------.,--]'E.. II .. 5/1/1999 Purpose of Issue_~________ I.... __ _ ____II. LandPreservationl Current Interest Rate -~ . I. l___=T_n_n_____~__~ 9u.tst'!!l.ciirlgll.~ginning of Year . ..I~P18771 il.-- \~40,0()g Issued During the Fiscal Y~~__ J " I f'~j~j~~~~~~~u:~i~::7~:~r hEl~L _.,' ....-=~,=~.:[-.. ... -..--..._-.'.'_.---'.~~,-O'()- 00-' ?~::~!:=" ..~~~f~~ iBondNo. 2000000006-" _ j~DPC65El1--~--AmOllli\ ~~r;~S:n:f ~s:~eOf Issue=.:::I=='___=-~~~_-~-~-]~~1 Land-~~e-t~~:~~~1 Curr~nt Interest Rate~-- ,.., -~-T- ..~[----- .04851 i~~~:~:~~~n;::~a~~:~~~=~~==~____ ""'.' .. -1~P18771.--jL ~...___1~~~~~ I (do not include renewals here) . . -.=-=:Jp18773 Ii 01 Paid Duringthe Fiscal Year .".. I . .. .----- - .m-T-~~--'T (donet include renewals her-e) ....___:._ ,._., .---]2P18775 ..... .... 100,606: ().l-I_ts~'!.rlciin.9 End of the Fisc.<lI..Ye~~_____._._.--~ I?pi8n7J___.::____~,220,OOO Final_~atunty Date ----l=___~-l .... ._. ~18/201i :~:~hN;;~~~~~~~:ue . -----i~=-jIE9fc;o_g~II.. .., -_.-~. ~2~72~uOn5 Purpose of Issue. _~_~__._______ .. ..... .1i,=llefundin-g SeiiaTBo~ds Current Interest Rate . .. r -.. I, I .6250i Outstanding Beginning of year.... ..... nU___~-~J2P18771-l' ... . _:'i.!l~ ;:\~;:~~~~~~:~i::~~:~:e)_~__~~-..u~~=~=_:~)P18~=~J~~~~_.-.._.~=.. .~. -..~ (do not include renewals here) . ---- jgP1877s-lln 240,00Q Outstanding End of the ~iscalyear:.=----.~.--..~~~==~@f'T87.z.i.-J[. 1 :615,000 Ei.l1..al rvlaturity Date____________~--.----.c~jl ___.'J~-_~-=-5/201' Page 89 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit ~:~hN:~d2~~~~~~~~:ue ----- .__IEDPCODElr----~-~-3f17y66n~ ~u.~E'os-,,~!J~~ue . ..._L ... 11New Lond<J.n Termina~ Current Interest Rate ___n_ __~I______,II.. ... . .'..."...,.. .()~ Outstanding Beginning of Year I2P187if-lL. 2,700,0001 ~sued During t~e Fiscai Xear. -~_~.~,::....____:-'r ... r] .(do not include renewals here) _n--]2p187'73i1 un __ __ . 0] ..Paid During the Fiscal.. Year -., ... .--..-.I.=_===jt==._. -.~...... '. ... _un. -] . . (d~not include renewals here) ____gP18775 T-. . "j50~6Oo] Outstanding.End of theFiscal Year~P18i77IC 2,550,000 FinaliV1aturity Daten---T .......' ... 'II . . 9/1/2021 , .......----~.~. .,.....-.1. . ]1-- ........,. I ~~~ihNaO~X~~~~~~~~:~e .. . ., ..--._--J~Ql"gQQ1=l--- 2/fJ/j09U;11 pu-rposeoil~SlJ.e_=_~=:::-:___~-~~-~-~~i=::J ,.. ..- '-_~~ousl Current InteresfRale ---- .. '.____ -r--n- II .. . :063751 ~~~SJ~Dg~~~:~;~n;::~a~~::~r _,_____...'_ -------~!~7D---l- ....... ...= 500'0_0~1 1"':r;it~~~~u:~i~6~~y:~/e=~2: -'-~~~:2 8773]----- ,- J ~noi-incTude renewals-here) .-_.~f:>f8u~==I. .... .,.__ 100,OOq Ou!standi.ng _E_.nd of the Fiscal Year. . ,... ___gP18777.L___ _____ 400,Q.O~ FI=-'-rv1=!!J,:~()a=en. -___ JL::-:-=:J,:::=--~I~?/.?01..1i ~ond No 20040000()9 .JE:[wCOD.~r::~: .. Arr1.o.u..n.! 'Month and Year of Issue I!I 9/15/2004 Pu;:P9~.~.:?Tlss.u.e ...-.~----..- . .--:: .... ._C-.--- - :[Mattitu-ck?aik:[l,stricl Current I nterest Rate .. . _ __~~_ __T-. -11______,..-:o3H Ou_tsta.n.~in~eginnin!Lo.~rear______ .____.____~j]~P187.7.!._ii___ ... . _155,09.01 I:S(~~d n~~~:~u~: iei~~~a~Se~~re) _ -_~ -- =-'---1~P!.87.~L+. .__._____0. Pai~ ()~Ein[l~e..fj~caIYear !,. ......!I __~__ (d t' I d I h ) jbP1877s]'- 50 000 ..0 no mc u e renewa s ere.._ "'___.___~....,__ ___.__-'-- Outstanding End_oflhe F'isc,,!I_Y~<l.r:. I~P18777]1 .. ..... ___!Q.5,Q()() .Fil1<lI~~_atl!':i.ty..()~~_ . .......... . .:'J.....-T~~~- __~/~5/2009 ~~~~::~::~:Ee~~~~:u~-~m .------ -~J~~PCODE1:~lmprovem:~:5~f~~ ,Current InterestR~te~=--- . -r.. ........- .0400 Outstandillg Beginning of Year__..._ .-~2P18771 Is~ued[)uringJ~e Fiscal Ye8:r_________L::-_ ...l.do notin.cIlJ.~~_renewals_here) ]2P18i131~l!5.Q,()09 pa;~:~~~ni~~rud~ii~~~~~rsr here) _ '..~-lEii~~:=:.--=-~.._ .... ~ .~==. ()u.!~tanding En.doftbEl Fiscal. Ye~!:..___ .______.._~._~.j~P18?7L Fina!..Maturity Date~~___u________.u ' ] 14,~50,()00 4/15/203Q . ..'--~i--'~~~~.~= "1 :: Page 90 OSC Municipality Code 470379000000 TOWN OF South old Statement of Indebtedness For the Fiscal Year Ending 2007 Indebtedness Not Exempt From Constitutional Debt Limit [Bond No 200??oo014 [Month and Year of Issue f>llrE~e o.f .Is~.u.~.. .c.~!~~nt InterestBate putstanding Beginning of Year ~ssued During the Fiscal Year' (do not include renewals here) .':aid Duri!lgut~e.fiscal year........ ...Jd9.not include renewals here) Quts1<1r]dlngEn.d of the Fiscal Year Final Maturity Date .. r otal Bond - _._.~.~~.~-~ Outsta~d.ing.?~.!nning of .Y~~_.._. IsslJ.ecJ.[)uringi"lscal Year Paid During Fiscal YEl.~_. _... Outstandi ngEl1cl.()f'Y.ear - jEDPCODE ~- -'Amo-un! ..___. u. '~~~ll___.j ...'-' 2/15/1996 [I I[ FI Landfill Closur .~ .. ........ ......L.~~-~I~-~ , -- . .039q __"__'~'~~'_~_'fP18771~___ ___ ._135,000 ~-~--~~~--=~~_~Ib'. .'_.~ ----- - ]1>18775 1[ ..' 15,OQiY _____~ l?p~jlC=___...m~ 120,0.00, ~~_ lL. ._JILI__ _ _ 1~~!5/20141 _ L ___ __L.JI-- -Amo~ ..1 ,_~_.___.__ .. .g~~~o~~ 1__ ,1~{l50,00Qr r-- 11-979,098 "l--=- . ~ JL_ 25,02.9..000 o *************************************************************************************************************************************** *************************************************************************************************************************************** Total of Alii ndebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt rotal-BOnd--- - - -nut --..:=11 - A~ Outstanding Beglnnlng.()!..)'ear _ - ~______'j -.~-J1-'--- 21,263,098 Issued During Fiscal Year _ __ ~C_ u18,323,gO.Q F'-aidDu~~JlFiscal Year - _~-~- -y---- - 8,322~oi:18 o_u_tslil.ndingEnd.QfYEl.ar___ I _~31,26~~000 Page 91 OSC Municipality Code 470379000000 TOWN OF South old Maturity Schedule For the Fiscal Year Ending 2007 For Bonds Issued During The Fiscal Year Ended 2007 '-:-=Igp,=~ODn .'. .. .. Indebte~~El!>s NIJ....___J ..--.J~7ooqoOL.. purpose of Issue : ~iJ07 Public Improvement Bonds ..._J IFor Stale Comptroller U~eOnly J~P3CE . I' . . . . . .....-.....-1 Total Principal gP3PR 14,650,000 1~~~~~I~:f!- .~~-~--~l~:;~~ _=.' --.. __..._...~~_.4115~~gg~ 'Final Maturity Date ___ j2P3DM J ....... .___... _ 4/15/203q ~.~~~~~ ~~:~~~~Io~:d~~~:s~~n~rt~t~:~i~~~~~eeadr i~~~~)IYear ending in (The Last~wo j --. .... . [21'368.-'1 -. . . -.... . . ." _i'~ ~Og--T.._-"'-' . .. 7~~,00:9 .2P310..n.r.... ....--5"75;00Q ~P311_~.][.--=-' 575,000; j2P312 .... ![.~.~.m. 600,000] j2P313 r ..~_. .6.25,0001 2P314 ._J....-~-m625,OOO 2P315 1[__n_.6~5,000: 2P316 [ . ..---625,000] j2f'11Z-='.r~-- ". .~~,00(1 2-1'318 .1. .---- 675,00() 2P319 ..1 ._6i5~606: 2P320 -- Ii _-=~. 675,000[ j2P321 .I nn. _.. _.e:75;Ooq !2P32Z-'-L 675;600 21'323-" Ii" ------ 725,660 ~P324 ..]L-"~ ...__--.=: --7_2.5"000, ~P325_--r "'=~.--" n 725,0[()] 2P3~6~~[T~ .... 55Q:QQ9 .2P327 I ... ...=~[-- 550;000 2P328'-.--r-~ .... .. . 550,00()j 2P32gm .. r--.- 550,0661 ~P330 ~'~r----"". -- . . .. 550,00(1 ~ Page 92 OSC Municipality 470379000000 TOWN OF Southold 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. Yes 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 Yes 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 93 OSC Municipality Code 470379000000 TOWN OF South old Schedule of Time Deposits and Investments For the Fiscal Year Ending 2007 EDP Code Amount -------------- CASH: On Hand 9Z2001 $2,270.00 Demand Deposits 9Z2011 __~6,~(34,661:00 Time Deposits 9Z2021 $",0,840,996.00 Total $47,807-,~2?()0 COLLATERAL: - FDIC Insurance 9Z2014 $1,100,000.00 ___..__n_ _____ Collateralized with securities held in possession of municipality or its agent 9Z2014A $86,842,456.00 Total $87,942,456.00 INVESTMENTS: - Securities (450) Book Value (cost) 9Z4501 ---- Market Value at Balance Sheet Date 9Z4502 Collateralized with securities held in 9Z4504A possession of municipality or its agent - 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 94 OSC Municipality Code 470379000000 TOWN OF Southold 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 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) 4) Do you engage in reverse repurchase agreements? Are Repurchase Agreements authorized by your investment policy? No Yes Name: Title: Phone Number: John Cushman ---------------- Town C()mptroller (631) 765-4333 Page 95 JSC Municipality Code 470379000000 Bank Account Number Bank Balance TOWN OF Southold Bank Reconciliation For the Fiscal Year Ending 2007 Include All Checking, Savings and CD. Accounts Add: Deposit In Transit Less: Outstanding Checks Adjusted Bank Balance Page 96 TOWN OF Southold Local Government Questionnaire For the Fiscal Year Ending 2007 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? Response Yes Yes Yes 4) Does your local government participate in an investment pool with other local governments? Yes 5) Does your municipality have a Length of Service Award Program (LOSAP) for volunteer firefighters? No 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? Yes No 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? No Yes No Yes scott. russell@to,^,nc~outhold. ny. us Yes ------------ southoldtown. north fork. net Page 97 OSC Municipality Code 470379000000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Scott A. Russell , hereby certify that I am the Chief Fiscal Officer of ~ ' and that the information provided in the annual , for the fiscal year ended 12/31/2007 the Town of South old financial report of the Town of South old , is TRUE and correct to the best of my knowledge and belief. By entering the personal indentification number assigned by the Office of the State Comptroller to me as the Chief Fiscal Officer of the Town of Southold , and adopted by me as my signature for use in conjunction with the filing of the Town of Southold 's annual financial report, I am evidencing my express intent to authenticate my certification of the Town of South old's annual financial report for the fiscal year ended 12/31g007__ and filed by means of electronic data transmission. John Cushman Name of Report Pre parer if different than Chief Fiscal Officer Scott A. Russell Name (631) 765-4333 ~ Telephone Number Supervisor Title PO Box 1179, Southold, NY 11971 Official Address 03/26/2008 Date of Certification (631)765-1800 _n_____ Official Telephone Number Page 98 Municipality Code 470379000000 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2007 A. Summary of Sianificant Accountina Policies The financial statements of the Town of South old have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies are described below. 1. Financial Reportinq Entity The Town of Southold, which was established in 1640, is governed by its Charter, the Local Municipal Law and other general laws of the State of New York and various local laws. The Town Board is the legislative body responsible for overall operations, the Supervisor serves as Chief Executive Officer and as Chief Fiscal Officer. Basic services provided include public safety, health, transportation, economic assistance and opportunity, culture and recreation, and home and community services. All governmental activities and functions performed for the Town are its direct responsibility. No other governmental organizations have been included or excluded from the reporting entity. The financial reporting entity consists of (a) the primary government which is the Town of Southold, (b) organizations for which the primary government is financially accountable and (c) other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete as set forth in GASB Statement 14. The decision to include a potential component unit in the Town's reporting entity is based on several criteria set forth in GASB 14 including legal standing, fiscal dependency, and financial accountability. Based on the application of these criteria, the following is a brief review of certain entities considered in determining the Town of Southold's reporting entity. Certain special districts of the Town of Southold provide sanitation, ferry, and park services to residents and businesses within the districts. These special districts are organized under New York State Town law and have separately elected boards. Long- term debt backed by the full faith and credit of the Town and other financial matters result in a fiscal interdependency with the Town. Accordingly, these special districts have been determined to be component units of the Town of Southold and are presented discretely in a separate column in the combined financial statements to emphasize that they are legally separate from the primary government. These districts include the following: TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2007 A. Summary of Siqnificant Accountinq Policies (continued) 1. Financial Reportina Entity (continued) The Fishers Island Ferry District, established in 1947 Orient Mosquito District, established in 1916 Fishers Island Garbage and Refuse District, established in 1952 Cutchogue-New Suffolk Park District, established in 1953 Orient-East Marion Park District, established in 1969 South old 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 Cutchogue-New Suffolk Park District P.O. Box 311 Cutchogue, NY 11935 Fishers Island Garbage & Refuse District Fishers Island, NY 06390 Orient-East Marion Park District Route 25 Orient, NY 11957 Southold Park District P.O. Box 959 Southold, NY 11971 Mattituck Park District P.O. Box 1413 Mattituck, NY 11952 Fishers Island Ferry District Main Street Southold, NY 11971 2. Fund Accountina The Town of South old 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 31,2007 A. Summary of Sianificant Accounting Policies (continued) 2. Fund Accounting (continued) Fund Categories 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: Hiohwav Funds - To maintain and operate highways. General Fund Part Town - To provide general services outside the Village of Greenport. Special Grant Fund - Segregate and account for projects funded by Community Development revenue. Special District Funds - To provide special services to areas that encompass less than the whole town. Capital Proiects Fund - used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by special assessment funds and trust funds). Fiduciary Funds - used to account for assets held by the local government in a trustee or custodial capacity: Trust and Aoencv 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 Groups 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, 2007 A. Summary of Sianificant Accountinq Policies (continued) Account Groups (continued) The General Fixed Assets Account Group - used to account for land, buildings, improvements other than buildings, and equipment utilized for general government purposes, except those accounted for in proprietary funds. The General Lona-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 Accountina/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 SOUTH OLD Notes To Financial Statements December 31,2007 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 Eauitv Receivables Receivables include amounts due from Federal, State, and other governments and individuals for services provided by the Town. Receivables revenues are recorded as earned or as specific program expenditures are incurred. Inventory - Materials and Supplies Inventory in the General Fund is valued at cost, using weighted average cost method. Inventory in these funds is accounted for under the consumption method. Property. Plant and Eauipment - 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 SOUTH OLD Notes To Financial Statements December 31, 2007 A. Summary of SiQnificant AccountinQ Policies (continued) 5. Assets. Liabilities and Fund EQuity (continued) Long-Term ObliQations Long-term debt is recognized as a liability of a governmental fund when due. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the General Long-Term Debt Account Group. Fund EQuity - Reservations and Designations Portions of fund equity are segregated for future use and therefore not available for future appropriation or expenditure. Amounts reserved for encumbrances, inventory, 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 Expenditures 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 31,2007 A. Summary of Sianificant Accountina Policies (continued) 6. Revenue and Expenditures (continued) Interfund Revenues Interfund revenues are quasi-external transactions in the operating funds that represent amounts charged for services or facilities provided by that operating fund. The amounts paid by the fund receiving the benefits of the service or facilities are reflected as an expenditure of that fund. Operatina Transfers Operating transfers represent payments to the Risk Retention Fund and Capital Projects Fund from other funds for their appropriate share of the risk retention and capital projects. Insurance The Town assumes the liability for most risk including, but not limited to, property damage and personal injury liability. Judgments and claims are recorded when it is probable that an asset has been impaired or a liability has been incurred and the amount of loss can be reasonably estimated. Compensated Absences Vested or accumulated vacation or sick leave of governmental funds that is expected to be liquidated with expendable available financial resources is reported as an expenditure and a fund liability of the respective fund that will pay it. Amounts of vested or accumulated vacation or sick leave of governmental funds that are not expected to be liquidated with expendable available financial resources are reported in the General Long-Term Debt Account Group. No expenditure is reported for these amounts. In accordance with the provisions of Statement No. 16 of the Governmental Accounting Standards Board, Accounting for Compensated Absences, no liability is recorded for non-vesting accumulating rights to receive sick pay benefits. Total Columns on the General Purpose Financial Statements Total columns on the general-purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or changes in financial position in conformity with generally accepted accounting principles, nor is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of the data. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2007 B. Stewardship, Compliance, Accountability BudQetarv Data 1. BudQet Basis of Accountinq Budgets are adopted annually on a basis consistent with generally accepted accounting principles. Appropriations authorized for the current year are increased by the amount of encumbrances carried forward from the prior year. Budgetary controls for special revenue funds are established in accordance with the applicable grant agreement, which may cover a period other than the Town's fiscal year. Appropriate budgetary adjustments have been made to reflect these grant agreements during the Town's fiscal year. 2. Budget Policies - The budget policies are as follows: a. No later than October 1, the Supervisor submits a tentative budget to the Town Board for the fiscal year commencing the following fiscal year. The tentative budget includes the proposed means of financing for all funds. b. After public hearings are conducted to obtain taxpayer comments, no later than November 20, the Town Board adopts the budget. c. The Town Board must approve all modifications of the budget. However, the Supervisor is authorized to transfer certain budgeted amounts within departments. 3. Material Violations of Finance Related Activities There are no material violations of finance-related provisions. TOWN OF SOUTH OLD Notes To Financial Statements December 31, 2007 B. Stewardship. Compliance. Accountability (continued) 4. Fund Balances 1. Certain funds of the Town apply to areas less than the entire Town. The fund equity at December 31, 2007 is allocated as follows: General Fund (Town wide) $ 5,083,792 Special Revenue Funds General Fund Part Town 722,960 Highway Fund -- Part Town 1,079,221 Special District Funds East-West Fire Protection 20,198 Southold Wastewater Disposal 238,863 Fishers Island Sewer 36,581 Solid Waste Management 110,229 Discretely Presented Component Units Fishers Island Refuse & Garbage 452,033 Fishers Island Ferry 146,199 Cutchogue-New Suffolk Park 128,029 Southold Park 86,189 Orient-East Marion Park (7,879) Mattituck Park 248,356 Orient Mosquito 9,003 Total $8.353.774 Deficit Fund Balances The capital projects fund and the Orient-East Marion Park District had a deficit fund balance at December 31, 2007. 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 31,2007 c. Detail Notes on all Funds and Account Groups (continued) 1. Assets (continued) Permissible investments include obligations of the U.S. Treasury and U.S. Agencies, repurchase agreements, obligations of New York State or its localities, and investments made by the Cooperative Liquid Asset Security System (CLASS). CLASS is a cooperative investment plan consisting of U.S. Treasury obligations and repurchase agreements relating to treasury obligations. The written investment policy requires that repurchase agreements be purchased from banks located within the state and that underlying securities must be obligations of the federal government. Underlying securities must have a market value of at least 102 percent of the cost of the repurchase agreement. Collateral is required for demand deposits and certificates of deposit at 102 percent of all deposits not covered by federal deposit insurance. Obligations that may be pledged as collateral are obligations of the United States and its agencies and obligations of the state and its municipalities and school districts. Deposits - All deposits, including certificates of deposits, are carried at cost plus accrued interest. Deposits at year-end were entirely covered by federal depository insurance or by collateral held by the Town's custodial banks in the Town's name. At December 31, 2007 the cash in banks was $47,805,657 and collateral held against cash in banks was $87,942,456 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, 2007 C. Detail Notes on all Funds and Account Groups (continued) 2. Fixed Assets A summary of changes within the General Fixed Assets Account Group for the Town of Southold for the year ended December 31, 2007 is as follows: Balance Balance 01/01/2007 Additions Deletions 12/31/2007 Primary Government: Land $58,341,515 $10,587,687 $68,929,202 Buildings & Improvements 8,307,221 9,100 8,316,321 Other Improvements 13,618,160 13,817 $ 7,326 13,624,651 Construction in Progress 220,114 847,624 1,067,738 Infrastructure 70,694,655 766,713 71,461,368 Machinery & Equipment 9,916.142 968.654 687.004 10.197.792 Total $161 ,097.807 $13.193595 $ 694.330 $173.597.072 Balance Balance 01/01/2007 Additions Deletions 12/31/2007 Component Units: Land $2,213,755 $ 20,406 $2,193,349 Buildings & Improvements 3,566,885 $ 9,485 75,460 3,500,910 Other Improvements 3,220,732 13,807,737 17,028,469 Construction in Progress 12,947,172 39,490 12,582,203 404,459 I nfrastructu re 2,145,278 26,800 2,172,078 Machinery & Equipment 3.320,899 245,096 61 ,000 3.504.995 Total $27.414.721 $14.128.608 $12.739.069 $28,804,260 3. Interfund Receivables and Pavables Interfund receivables and payables for the primary government at December 31, 2007 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 Totallnterfund Interfund Receivables $ 74,500 267,093 1,260,522 157,192 477,127 1,051 470 126,342 25.484 $ 2.389,781 I nterfu nd Pavables $ 2,330,705 27,090 29,985 2,000 1 $ 2.389.781 TOWN OF SOUTH OLD Notes To Financial Statements December 31, 2007 C. Detail Notes on all Funds and Account Groups (continued) 4. Due To/From Primary Government and Component Units Amount Receivable Component Units: Fishers Island Refuse & Garbage District $ 163,675 Fishers Island Ferry District 205,649 Orient Mosquito District 25,230 Cutchogue-New Suffolk Park District 42,095 Southold Park District 91 ,450 Orient-East Marion Park District 10,095 Mattituck Park District 139,704 Primary Government General Fund Capital 139,651 Trust and Agency Totals $ 817.549 5. Indebtedness Amount Pavable $ 133,925 5,726 643,531 34,367 $ 817.549 Short-Term Debt Liabilities for bond anticipation notes (BAN's) are generally accounted for in the capital projects funds. The notes or renewal thereof may not extend more than two years beyond the original date of issue unless a portion is redeemed within two years and within each 12 month period thereafter. State law requires that BAN's issued for capital purposes be converted to long-term obligations within five years after the original issue date. However, BAN's issued for assessable improvement projects may be renewed for periods equivalent to the maximum life of the permanent financing, provided that stipulated annual reductions of principal are made. To Be Redeemed 2008 Interest Budget Description Amount Rate Appropriations Bonds Various Purposes $ 579,000 3.75% $ 178,000 $ 401,000 Various Purposes 3,680,000 3.95% 355,000 3,325,000 New London Wharf 1,500,000 3.70% 125,000 1,375,000 Pickett Landfill Closure 360,000 3.69% 360,000 0 Fishers Island Sewer Dist 125,000 3.35% 3,700 121.300 Total $ 6.244.000 $ 1.021.700 $ 5 222 300 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2007 c. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Lona-Term Debt a) At December 31, 2007 the total outstanding indebtedness of the Town, excluding the above obligations aggregated $25,020,000. Of this amount, $23,325,000 was subject to the constitutional debt limit and, combined with the short-term debt listed above, represented 4.41 % 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 Lona-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) Summarv Lona-Term Debt - The following is a summary of long-term liabilities outstanding at December 31, 2007 by fund type and account group: General Discretely Long Term Debt Presented Liabilitv Account Group Component Unit Total Serial Bonds $ 22,365,000 $ 2,655,000 $ 25,020,000 Compensated Absences 6.971 .397 6.971 .397 Total Long-Term Debt Account Group $ 29.336.397 $ 2.655.000 $ 31.991.397 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2007 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Long-Term Debt (continued) e) The following is a summary of changes in the long-term liabilities for the period ended December 31, 2007: Payable at beginning of Year Additions Deletions Payable at end of Year Bonds and Notes $ 11,349,098 14,650,000 979,098 $ 25.020,000 Compensated Absences $ 6,475,661 495,736 $ 6,971,397 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 31,2006: Year Endino 2008 2009 2010 2011 2012 2013-2017 2018-2022 2023-2027 2028-2030 Totals 6. Retirement System Plan Description Principal $ 1,695,000 1,750,000 1,575,000 1,600,000 1,540,000 7,080,000 4,855,000 3,275,000 1,650,000 $25.020.000 Interest $ 950,557 888,643 827,440 768,387 709,850 2,733,827 1,500,488 676,281 105,188 $9.160.661 The Town participates in the New York Employee's Retirement System, the New York State Policemen's and Firemen's Retirement System and the Public Employee's Group Life Insurance Plan (Systems). These are cost-sharing multiple-employer retirement systems. The Systems provide retirement benefit as well as death and disability benefits. TOWN OF SOUTH OLD Notes To Financial Statements December 31, 2007 c. Detail Notes on all Funds and Account Groups (continued) 6. Retirement System (continued) The New York State Retirement and Social Security Law (NYSRSSL) govern obligations of employers to contribute and benefits to employees. As set forth in the NYSRSSL, the Comptroller of the State of New York (Comptroller) serves as sole trustee and administrative head of the Systems. The Comptroller shall adopt and may amend rules and regulations for the administration and transactions of the business of the Systems and for the custody and control of their funds. The Systems issue a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by writing the New York State and Local Retirement System, 110 State Street, Albany, N. Y. 12244. Fundinq 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 2007 $ 980,628 $ 967,286 2006 $1,096,547 $ 741,445 2005 $1,068,200 $ 1,016,937 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. TOWN OF SOUTH OLD Notes To Financial Statements December 31,2007 c. Detail Notes on all Funds and Account Groups (continued) 6. Retirement System (continued) · 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. 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, $3,471,322 was paid on behalf of 96 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. TOWN OF SOUTH OLD Notes To Financial Statements December 31, 2007 C. Detail Notes on all Funds and Account Groups (continued) 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. D. Commitments and Continaencies The Town is self-insured for medical insurance and general liability insurance. The amount of medical claims outstanding at December 31, 2007 is $447,844. The amount of general liability claims outstanding at December 31, 2007 is $1,215. 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. TOWN OF SOUTH OLD Notes To Financial Statements December 31,2007 D. Commitments and ContinQencies (continued) 2. 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, 2007 were approximately $209,842. Future obligations over the primary terms of the Town's leases as of December 31, 2007 are as follows: 2008 2009 2010 2011 & thereafter Total $ 189,393 180,047 105,458 563.902 1.038.800 $ E. Condensed Financial Statements for the Discretelv Presented Component Units The following represents condensed financial statements for the discretely presented component units as of and for the year ended December 31, 2006. Condensed Balance Sheet Assets and Other Debits Liabilities Due From Current Primary Assets Government Fishers Island Ferry District Fishers Island Garbage District Cutchogue-New Suffolk Park Dis!. Southold Park District Orient-East Marion Park District Mattituck Park District Orient Mosquito District $ 1.580,824 $ 639,352 170,124 177,639 13,631 402,528 34,233 171,282 163,675 42,095 91,450 10,095 139,704 25,230 Property Building & EauiDment $ 22,381,698 3,496,769 145,705 865,864 432,985 1 ,450,348 30891 $ 3 018 331 $ 643531 $ 28 804 260 Condensed Statement of Revenues, Expenditures and Changes in Fund Balances Excess (Deficiency) of Revenues and Expenditures $ (56,815) (151,984) 19,380 44,617 (2,248) 82,100 1,117 Fishers Island Ferry District Fishers Island Garbage District Cutchogue-New Suffolk Park Dist. South old Park District Orient-East Marion Park District Mattituck Park District Orient Mosquito District Revenues $ 4,291,972 691,520 150,446 356,854 30,745 514,770 84.454 $6120761 Current $ 2,399,556 94,000 85,191 259,935 32,993 340,438 83.337 $ 3 295 450 Amounts to be Provided for Long-Term Debt Other Current Liabilities Bonds and Long-Term Liabilities $ 2,550,000 $1,434,625 187,319 42,095 91,450 21,510 154,172 25.230 $ ? 655 000 $1 956401 $ 2 655 000 $ 2,550,000 105,000 105,000 Expenditures Capital Outlav $ 1,520,581 $ 530,206 45,875 52,302 Debt Service 428,650 219,298 37,365 54,867 $2186329 $ 702 815 $ (63 833)