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2008
All Numbers in This Repod Have Been Rounded To The Nearest Dollar ANNUAL FINANCIAL REPORT UPDATE DOCUMENT For The TOWN of Southold County of Suffolk For the Fiscal Year Ended 1213112008 RECEIVED APR 3.mn Soufhold Town C/erS 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 Comptrolter. 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 and School Accountability Albany, New York 12236 Page 1 TOWN OF Southold *** FINANCIAL SECTION *** Financial Information for the following funds and account groups are included in the Annual Financial Report filed by your government for the fiscal year ended 2007 and has been used by the OSC as the basis~or preparing this update document for the fiscal year ended 2008: (A) GENERAL (B) GENERAL TOWN-OUTSIDE VG (CD) SPECIAL GRANT (DA) HIGHWAY-TOWN-WlDE (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 00 DEBT SERVICE (W) GENERAL LONG-TERM DEBT All amounts included in this update document for 2007 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 Time Deposits and Investments 3) Bank Reconciliation 4) Local Government Questionnaire 5) Schedule of Employee and Retiree Benefits 6) Schedule of Energy Costs and Consumption 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 2008 (A) GENERAL Balance Sheet Cash 1,836,441 A200 7,439~606 Cash In Time Deposits 19,600,627 A201 997,278 Petl~ C~sh 420 A210 594 TOTAL Cash 21,437,689 8,437.480 Taxes ReceivaPte Current A250 33.502 TOTAL Taxes Receivable (~et) 0 33,502 Accounts Receivable 17.263 A360 23.594 TOTAL Other Receivables (net] 17,263 23.594 Stale & Federal Other 62.377 A410 59.343 TOTAL State And Federal Aid Rscelvables 62.377 59,343 Due From Other Funds 74.500 A391 234.469 TOTAL Due.FromOthe[Funds 74,500 234,489 Due From Other Governments 826.834 A440 1.529.700 TOTAL Due From Other(~ove~'nment~ 826,834' - -- ~1,529,700 ~nven[ory 1.275 A445 871 TOTAL Inventories 1,275 Prepaid Expenses 460,951 ~,460 456.001 TOTAL Prepaid Expenses 460,981 456,001 TOTAL Assets 22~81~0,889 10,774.979 Page 3 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds Due To Other Governments Deferred Revenues 830,531 A600 668,607 2,974,237 A530 1,538,235 1,538,236 8,925,786 A631 851 5,066,541 A691 5,204,959 Reserve For Encumbrances TOTAL Reserve For Encumbrances TOTAL Special Reserves Unreserved Fund Balance Appropnalec TOTAL Unreserved Fund Balance - Appropriated TOTAL Unreserved Fund Balance - Unappropriated TOTAL Fund Eqmty TOTAL Liabilities And Fund Equity 193,041 A821 51.076 ~193,041 5%076 588.614 A863 343.316 588,614 343,316 1,816.000 A910 1262.000 1,816,000 1,262,000 2.486.137 A911 1705.934 2,486,137 1,705,934 5,083,792 3,362,326 22,880,889 10,774,979 Page 4 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation - Detail Revenues And Other Sources Rear Property Taxes 16,205,911 A1001 17,391.288 Other Payments In Lieu of Taxes 27,485 A1081 29,504 tnterest& Penalties On Real Prop Taxes 65,121 A1090 64.609 TOTAL-Real Pr0P~r[y Tax items 94,4 ~3 Non Pro? Tax Dist By County 683.873 A1120 751.073 TOTAL Nb~ Property Ta~ items 683,873 7511073 Clerk Fees Other General Depadmental Income Police Fees Charges-Programs For The Aging Park And Recreational Charges Special Recreational Facility Charges Other Home & Community Services Income 6,075 A1230 4,050 10,136 A1255 9,070 4.479 A1289 687 4.216 A1520 3,475 184.273 A1972 186,093 73,234 A2001 92,821 98,631 A2025 ~67,772 40.745 A2189 47,630 Programs For Aging, Other Govts Misc Revenue, Other Govts TOTAL i~terg0Vetnmental Charges Rental of Real Properly 164,254 A2210 131,148 A2351 33,800 A2389 329,202 617,257 A2401 147,655 A2410 Bingo Licenses 688 A2540 Dog Licenses 9,248 A2544 Permits, Other 243,558 A2590 120,249 142,728 262,976 343,312 153,063 496~9fi 774 7,797 236,339 Fines And Forfeited Bail 15{},852 A2610 168,559 Forfeitures of Deposits 4,625 A2620 560 Sales of Scrap & Excess Materials 284 A2656 2,217 Sales, Other 899 A2655 624 Insurance Recoveries 147,101 A2680 156,885 Reimbursement of Medicare part D Exp 41,805 A2700 47,780 Refunds of Prior Year's Expenditures 19,213 A2701 22,255 Gifts And Dor~ations 3,640 A2705 8,350 Unclassified(specify} 121,286 A2770 112.430 St Aid, Mortgage Tax St Aid. Real Property Tax Administration St Aid - Other (specify) St Aid, Youth Programs 2,293,263 A3005 1,551.445 8,284 A3040 5,429 83,927 A3089 52,977 27,395 A3820 46,909 Page 5 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results~[ Operation Detail Revenues And Other Sources Fed Aid Other Public Safety Fed Aid, Transp Cap Proj Fed Aid, Programs For Aging 2,649 A4389 347 20,000 ^4597 36,000 ~22,919 A4772 111,364 Interfund Transfers 2,738,349 A5031 3,493,057 Page 6 OSC Municipality Code 470379000000 TOWN OF Southeld Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Legislative Board, Pars Serv Legislative Board, Contr Expend 12%055 A10101 120,268 148,299 A10104 155,118 Municipal Court, Pars Serv Municipal Court, Equip & Cap Outlay Municipal Court, Contr Expend 412,428 Al1101 462,225 530 Al1102 600 50,525 Al1104 51.735 Supervisor,pers Serv Supervisor,equip & Cap Outlay Supervisor, contr Expend Dir of Finance, Pars Sen/ Dir of Finance, Equip & Cap Outlay Dir of Finance, Contr Expend 203,481 A12201 216,836 A12202 3,785 A12204 14,542 207,268 i 1231,a77 324,053 A13101 362,463 275 A13102 1,478 17,593 A13104 23,528 Auditor, Contr Expend 65,000 A13204 65,000 Tax Collection,pars Serv Tax Collection,contr Expend 88,699 A13301 92,322 16.995 A13304 17,478 Assessment, Pets Serv Assessment, Equip & Cap Outlay Assessment, Contr Expend 366,466 A13551 375,609 909 A13552 1,125 18,782 A13554 20,442 Clerk,pers Serv Clerk,contr Expend 296,748 A14101 331,618 19,349 A14104 18,700 Law, Contr Expend 267,715 A14201 311,035 87,541 A14204 98,147 Engineer, Peru Serv Engineer, Contr Expend 67,380 A14401 70,279 1,801 A14404 2,763 Records Mgmt, PetS. SerV. Records Mgmt, Equip & Cap Outlay Records Mgml, Contr Expend TOTAL Records Mgm[ Public Works Admin, Pars Serv Public Works Admin. Conlr Expend 77,951 A14601 83,504 749 A14602 1,940 A14604 22,935 801640 1061~9 64,954 A14901 55,919 572 A14904 572 Buildings, Pars Serv 697,223 A16201 715,222 Buildings, Equip & Cap Ou6ay 149,324 A16202 232,446 Buildings. Contr Expend 482,467 A16204 581,391 Central Garage, Pets Serv 2,500 A16401 Page 7 OSC Municipality Cede 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Central Garage, Equip & Cap Outlay Central Garage, Contr Expend TOTAL Central Garage Central Print & Mail, Equip & Cap Outlay Central Print & Mail,contr Expend 14,907 A16402 15,412 12,151 A16404 14,989 29,567 i~ 30,401 51,294 A16702 54.053 32,629 A16704 33.237 Central Data Process. Pars Serv 235,183 A16801 164,208 Central Data Process & Cap Outlay 5,540 ^16802 4,000 Central Data Process, Contr Expend 207,934 A16804 208,258 Unallocated Insurance, Contr Expend 616,307 A19104 396,552 Municipal Assn Dues, Contr Expend 1,650 A19204 1.650 Other General Government, Pars Serv A19691 82,002 Public Safety Corem Sys, Pers Serv 700,663 A30201 736,994 Pubtic Safety Corem Sys, Equip & Cap Outlay 69,521 A30202 38,197 Public Safety Comm Sys, Contr Expend 401539 A30204 43,318 8~o~722 e~S~SO~ Police, Pets Serv 6,266,702 A31201 5,076,945 Police, Equip & Cap Outlay 104,775 A31202 255,507 Police, Contr Expend 388,103 A31204 413,166 Traffic Control, Equip & Cap Outlay Traffic Contra!, Contr Expen 19,100 A33t02 23,808 A33104 23,255 Fire, Contr Expend 131 A34104 417 Control of Animals, Contr Expend 175,479 A35104 180,743 Examining Boards, Pets Serv 8,725 A36101 8,819 Examining Boards, Contr Expend 5,349 A36104 8,920 TOTAL EXamining B~rds' ;14,0i3: Civil Defense, Pets Serv 11,000 A35401 5,212 Civil Defense, Contr Expend 3,750 A36404 3,936 Public Health, Contr Expend 2,250 A40104 2,250 Narcotic Guid Council, Contr Expend 32,988 A42104 321988 TOTAL Heblth Page 8 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Resutts of Operation Detail Expenditures And Other Uses Street Admin, Pers Serv 324,400 A50101 270,615 Street Lighting, Pets Serv Street Lighting, Equip & Cap Outlay Street Lighting. Contr Expend 48,981 A51821 55,150 5,275 A51822 1,410 138,249 A51824 143,007 Off-Street Parking. Equip & Cap Outlay Off-Street Parking. Contr Expend TOTAL Off-Street Pa r king TOTAL ~ransportation Publicity, Contr Expend 33,800 A56502 202 A56504 616 34002 550,906 470~798 40.000 A54104 40,000 Programs For Aging, Pets Serv 802,704 A67721 572.470 Programs For Aging, Equip & Cap Oullay 1,584 A67722 2.530 Programs For Aging, Contr Expend 220,617 A67724 232,293 Recreation Admini. Pers Serv Recreation Admini, Equip & Cap Outlay Recreation Admini, Contr Expend 71.653 A70201 71,132 270 A70202 310 85,828 A70204 94,714 Special Rec Facility, Pets Sew Special Rec Facility, Contr Expend 112,973 A71801 106,059 5,461 A71804 6,365 Youth Prog, Contr Expend A73104 4,009 400~ Library, Contr Expend 45,000 A74104 45,000 ~S;OOO ~,ooo Historian, Pets Serv 17,323 A75101 17,885 Historian, Contr Expend 345 A75104 408 TOTAL Hi~t0r an ~?6ee Historical Property, Pets Serv 5,204 A75201 5,000 Historical Property, Contr Expend 704 A75204 706 Celebrations, Contr Expend 779 A75504 1,000 Planning. Contr Expend 49,719 A80204 14,773 TOTAL Planning ~4,~3 Environmental Control, Pers Serv 222,160 A80901 180,253 Environmental Control. Equip & Cap Outlay 2,748 A80902 677 Environmental Control, Centr Expend 24,301 A80904 35,808 TOTAL Envlronmentai Cent roi 216~737 Shade Tree, Pers Sen/ 1.022 A85601 2,071 Page 9 OSC Municipality Code 470379000000 TOWN OF $outhold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Results of Operation Detail Expenditures And Other Uses Shade Tree, Contr Expend 6,216 A85604 8,878 Conservation, Equip & Cap Outlay Conservation, Contr Expend 219 A87102 8,641 A87104 8,154 Fish And Game, Contr Expend 26,000 A87204 25,000 Cemelery, Contr Expend A88f 04 12 Misc Home & Corem Se~, Pers Serv Misc Home & Comm Serv, Equip & Cap (~utlay Misc Home & Corem Serv, Contr Expend 75,553 A89891 150,551 215 A89892 858 A89894 478 State Retirement System Police & Firemen Retirement, Emp~ Bnffs Social Security, Employer Cent Worker's Compensation. Empl Bnfts Unemployment Insurance, Empl Bnfts Disability Insurance, Empl Bnfts Hospital & Medical (dental) Ins, Empl Bnft Other Employee Benefits (spec) 505,834 A90108 484,468 912,756 A90158 922,846 852,332 A90308 894,899 154,665 A90408 153,780 18,962 A90508 26,969 222,449 A90558 237,294 3,471,322 A90608 4,524,975 33,958 A90898 31.539 Debt Principal Serial Bonds Debt Principal, Bond Anticipation Notes TOTAL. Debt Principal' Debt Interest, Serial Bonds Debt Interest BondAnlicioahon Neles TOTAL Debt Interest TOTAL Expenditures Transfers. Other Funds TOTAL Operating Transfers TOTAL Other Uses TOTAL Detafi Expenditures AndOther Uses 543,040 A97106 703,040 404,722 A97306 198,896 947~762 901~936 218.B13 A97107 220.243 29.122 A97307 60,504 244,735 270,747 1.998.841 A99019 2.630.894 1,998,84~ 2,630,894 1,998,841 2,630,B94 24,829,186 2~,39t,007 Page 10 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES iN FUND EQUITY Fund Equity-Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity-End of Year 5,384,699 A8021 5,083,793 5,384,699 A8022 8,083,793 24,528,280 25,669,541 24,829,186 27,391,007 5,083,793 A8029 3,362,326 Page 11 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Budget Summary 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 * Intergovernmental Charges Est Rev - Use of Money And Property Est Rev - Licenses And Permits Est Rev - Fines And Forfeitures Est Rev - Sale of Prep And Comp For Loss Esl Rev - Miscellaneous Local Sources Est Rev - State Aid TOT~ Estimated Revenues Estimated - Intertund Transfer Appropriated Fund Balance TOTAL Estlmeted Other Sources TOTAL Estimated Revenues And Other Sources 17,391,288 A1049N 20,165,953 93,000 A1099N 89,100 616,670 A1199N 818,273 669,116 A1299N 625,650 322,518 A2399N 285,078 735,000 A2499N 570,000 288.455 A2599N 263,388 165,000 A2649N 172,500 28.500 A2699N 129,000 143.644 A2799N 177,872 , 2,339.522 A3099N 1.393,015 22,792,713 24 689 3.261.856 A5031N 4,571,175 2.016.000 A599N 1,262,000 5,277,856 '5 8331~ Page 12 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (A) GENERAL Budget Summary Appropriations And Other Uses App - General Government Suppod App - Public Safety App - Health App - Transportation App - Economic Assistance And Opportunity App - Culture And Recreation App - Home And Community Services App - Employee Benefits App - Debt Service 6,388,810 A1999N 5,853.150 8,644,923 A3999N 9,484,438 38,250 A4999N 35,250 488,500 A5999N 494,100 1,135,950 A6999N 1,189,500 382,530 A7999N 369,020 480,012 A8999N 465,801 6,891,738 A9199N 8,251,341 1,317,375 A9899N 1,571,281 App - Interfund Transfer 2,322,481 Agg99N 2,809,123 Page 13 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 ¢5) GENERAL TOWN-OUTSiDE VG Balance Sheet ~ Assets Cash In Time Deoos~ts 621.397 B20' 771.368 TOTAL Cash 62t.397 771,368 Accounts Receivable 61.567 B380 65.057 TOTAL Other Receivables (net) 61.567 6~,057 State & Federal Receivables B410 51.373 TOTAL State And Federal Aid Receivables 0 51,373 Due From Other Funds 267.093 339' 122.581 TO:rAI; DueFrom,OtherFu nds 267,093 122,581 Prepaid Exoenses 23,315 B480 22.905 TOTAL PrepeidExpenees ; 23,3~5 22,905 TOTAL Assets 973,372 1,033,284 Page 14 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet Liabilities And Fund Equity Accounts Payable Deferred Revenues TOTAL Deferred Revenues TOTAL,Liabilities Unreserved Fund Balance Appropriated TOTAL Unreserved Fund Balance -Appropriated Unreserved Fund Balance Unappropriated TOTAL Unreserved Fund Balance - Unappropriated TOTAL Fund Equity TOTAL Liabilities And Fund Equity 15,272 B600 27,753 235,141 B691 251,267 235.141 251.267 250.413 279,020 317.000 B910 292.000 3t?,000 29,2i000 405.960 B911 462,264 405,960 '462,264 722,960 764,264 973,372 1,033,284 Page 15 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (e) GENEP. AL TOWN-OUTSIDE VG Result~ of Operation Real Properly Taxes 407,539 B1001 809,977 Other Payments In Lieu of Taxes Interest & Penalties On Reel Prop Taxes 728 S1081 1,444 554 B1090 750 Franchises 234,091 Bl170 256,296 Other General Departmental Income Safety Inspection Fees Public Health Fees Zoning Fees Planning Board Fees TOTAL Departmental Income Interest And Earnings TOTAL Use of Money And Proper'bi Permits. Other TOTAL Licenses And Permits Sales. Other ToTAL, Sale of ~'oPerty And Compensation For Loss St Aid, State Revenue Sharing St Aid, Planning Studies TOTAL State Aid T~TA~ Revenue's' TOTAL Detail Revenues And Other Sources 6,738 81289 6,962 543,811 B1560 480,097 15,800 B1601 14,065 53.100 B2110 61.850 50.296 B2115 69.223 669.746 632,'197 44,654 B2401 20,352 44,654 5150 B2590 5,500 5.160 : S Soo 2.164 B2655 4,141 B2680 782 93.135 B3001 95,929 B3902 51,373 93,136 147,302 1;457.761 1 878 741 Page 16 OSC Municipality Cede 470379000000 TOWN OF Southotd Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN-OUTSIDE VG Results of Operation Detail Expenditures And Other Uses Law, Pets Serv 67,401 B14201 79,133 Law, Conlr Expend 20,569 B14204 18,097 Safety Inspection, Pets Serv 432,855 B38201 491,916 Safety Inspection, Equip & Cap Outlay 211 B36202 739 Safety inspection, Contr Expend 8,875 B36204 12,604 Misc Public Safety, Pets Serv 1,186 B39891 943 Public Health, Pets Sen, 7,370 B40101 7,370 Zoning, Pers Se~v Zoning, Equip & Cap Outlay Zoning, Contr Expend Planning, Pets Sen' Planning, Equip & Cap Outlay Planning, Contr Expend 139,534 B80101 f46,228 415 B80102 15,885 B80104 16,742 439,907 B80201 505,760 1,510 B80202 575 59,735 B80204 98,211 Slate Retirement, Empl Bnfis 93,746 B90108 91,430 Social Security, Empl Bnffs 84,167 B90308 95,137 Worker's Compensation, Emp~ Bnfts 7,839 B90408 7,794 Disability insurance, Empl Bnfts 22,369 B90558 25,436 Other Employee Benefits (spec) 12,577 B90898 13,141 Transfers, Other Funds 226,842 B99019 236,179 ; 236179 Page 17 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN-OUTSIDE VG Changes in Fund Equity ~ ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity. Beginning of Year Restated Fund Equity - Beg of Year ADD ~ REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 908,193 B8021 722,960 908,193 B8022 722,960 1,457,761 $,878,741 1~642,994 1,847,437 722,960 B8029 754,264 Page 18 nSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (B) GENERAL TOWN-OUTSIDE VG _ Budget Summary Estimated Revenues And Other Sources Est Rev - Real Proper~y Taxes Est Rev - Real Property Tax Items Est Rev - Non Properly Tax Items Est Rev - Departmenlal Income Est Rev - Use of Money And Proper~y Est Rev - Licenses And Permits Est Rev - Sale of Prop And Comp For Loss Est Rev-State Aid 809,977 B1049N 713,928 1,400 B1099N 2.150 240,000 B1199N 248,000 725,100 B1299N 725,200 47,000 B2499N 25,000 5,200 B2599N 6,000 8,000 B2699N 3,000 93,000 B3099N 216.000 Appropriated Fund Balance 317,000 B599N 292,000 Page 19 nSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (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 431,100 B1999N 90,000 486,443 B3999N 523,880 7,400 B4999N 7,370 837,089 B8999N 9q6,951 241,242 B9199N 250,575 App - Interrund Transfer 243,403 B9999N 452,502 Page 20 ©SC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (CD) SPECIAL GRANT Balance Sheet Assets Due From Other Governments 42,236 CD440 18,125 Page 21 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (CD) SPECIAL GRANT Balance Sheet Liabilities And Fund Equity Accounts Payable TOTAL Accountspayable Due To Other Funds TOTAL Due ToOther Funds TOTAL Liabilities TOTAL Liabilities And Fund Equity 42.236 CD600 17,591 42236 17,591 CD630 534 0 534 42,236 18,125 42,236 18,125 Page 22 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (CD) SPECIAL GRANT Results of Operation " Detail Revenues And Other Sources Fed Aid, Community Development Act 210,175 CD4910 144.838 TOTAL F~d~ral Aid TOTAL R6venUes 210175 Page 23 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (CD) SPECIAL GRANT Results of Opeiation Detail Expenditures And Other Uses Prov of Public Sen/ice, Conlr Expen 215,175 CD86764 144,838 TO~I'AI~ Hdme And Community Services TOTAL Expenditures ' , TOTAL Detail Expendlture~ And Other Uses 215,175 144;838 215,175 144,835 215,175 144,838 Page 24 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (CD) SPECIAL GRANT Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity-Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity-End of Year 5,000 CD8021 5,000 CD8022 210,175 144,838 215,175 144,838 CD8029 Page 25 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DA) HIGHWAY-TOWN-WIDE Balance Sheet Cash In Time Deposits DA201 Page 26 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 ' Balance Sheet Page 27 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DA) HIGHWAY-TOWN-WIDE Results of Operation Detail Revenues And Other Sources Real Property Taxes T°TAC R~i Prop~ ~a~es Interest And Earnings TO~AL Intedund Transfers Additional Description Roundiflg ~o slose fund' -17,500 359 359 212 212 212 DA1001 0 DA2401 0 0 DA5031 0 0 0 0 Page 28 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 Results of Operation Page 29 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DA) HiGHWAY-TOWN-W~DE Changes in Fund Equity ~ ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 16,929 DA8021 -0 Restated Fund Equity - Beg of Year 16,929 DA8022 -0 ADD - REVENUES AND OTHER SOURCES ~16,929 0 Fund Equity. End of Year -0 DA8029 Page 30 OSC Municipality Code 470379000000 TOWN OF Southotd Annual Update Document For the Fiscal Year Ending 2008 (DA) H_IGHWAY-TOWN-WIDE Budget Summary Estimated Revenues And Other Sources Est Rev - Use of Money And Propedy TOTAL Estimated R~venues Appropriated Fund Balance 0 DA2499N 0 0 0 DA599N 0 ~) 0 0 Page 31 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY-PART-TOWN Balance Sheet Assets Cash rn Time Deposits State & Federal Receivables Due From Other Funds TOTAl- Rue From Othbr Funds Prepaid Expenses TOTAL Prepaid Expenses TOTAL Assets DB410 1,260,522 DB391 524,836 %260,~22 ;,' 624,536 52,151 DB480 · 45,600 52,161 45,600 2,505,868 2,271;686 Page 32 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Endin9 2008 (DB) HiGHWAY-PART-TOWN Balance Sheet Liabilities And Fund Equity Accounts Payable TOTALAccounts Payable Due To Other Funds TOTAL Due To Other Funds Deferred Revenues TOTAL Deferred Revenues TOTAL Liabilities TOTAL Unreserved Fund Balance. Appropriated Unreserved Fund Balance Unappropnam~ 146.552 DB600 147,630 146,552 147,830 27.090 DB630 25.164 27,090 25,164 253.005 DB691 ' 175.131 ,253.005 1.176,131 ,426,647 1,348.124 491.000 DB910 381020 491,000 38'l,020 588221 DB911 542,542 588,221 542,542 Page 33 OSC Municipality Code 470379000000 TOWN OF. Southold Annual Update Document For the Fiscal Year Ending 2008 (DB} HIGHWAY-PART-TOWN Results of Operation Detail Revenues And Other Sources Real Property Taxes Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes Interest And Earnings Permits, Other Sales ol Scrap & Excess Materials insurance Recoveries ToTAL:$~Ie 0f P~Pe~ A~d compenaatioa For LOSS Unclassified (specify) Additional Description Recovery of expenses TOTAL Miscellarle0us LoCal Sources St Aid, Consolidated Highway Aid 4,045,195 DB1001 4,316,095 7,221 DB1081 7,686 5,501 DB1090 4,091 142,142 DB2401 61,375 10,362 DB2590 13,190 29,213 Da2650 DB2680 7,416 29 4 ,213 7;16 DB2770 13,703 0 ,13;703 296,263 DB3501 326,820 Page 34 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DB) HiGHWAY-PART-TOWN Results of Operation Detail Expenditures And Other Uses Administration-Contractual DB17104 135 Maint of Streets, Pers Serv 1,342,564 DB51101 1,459,115 Maint of Streets, Contr Expend 672,795 DB51104 747,464 2,0'16;369 2,206;678 Perm improve Highway, Equip & Cap Outlay 296,263 DB51122 326,820 Machinery, Pets Serv Machinery, Equip & Cap Outlay Machinery, Contr Expend 364,052 DB51301 325,658 204,832 DB51302 170,169 147,375 DB51304 96,606 Brush And Weeds, Pers Serv Brush And Weeds, Equip & Cap Outlay Brush And Weeds, Contr Expend 33,340 DB51401 86,509 192 DB51402 83,931 DB51404 101,295 Snow Removal Pets Serv Snow Removal, Equip & Cap Outlay Snow Removal, Contr Expend TOTAL Tr:~nsPortaflon State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation. Empl Drifts Disability insurance, Empl Bnffs 139,503 DB51421 129,105 22,500 DB51422 9,342 129,841 DB51424 91,534 3i437,186 364.36i6 214,346 DB90108 188,951 143,779 DB90308 153,029 103,824 DB90408 103,229 48,237 DB90558 53,604 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes DB97106 233,000 DB97306 27,100 201,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation N~otes 2,656 DB97107 5,567 14,345 DB97307 7,561 TOTAL Debt Ihter~t TOTAL Expehditures Transfers, Other Funds ;'17i001 13,128 4;~t97i373 4,283;793 561,696 OS99019 622,241 TOTAL Operat ng Transfers 561 6~6 622241 Page 35 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY-PART-TOWN Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 1,302,393 DB8021 1,079,221 1,302,393 DBSID22 1,079,221 4,535,896 4,750,376 4,759,069 4,906,034 1,079,221 DB8029 923,562 Page 36 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DB) HIGHWAY-PART-TOWN Budget Summary Estimated Revenues And Other Sources Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev- Use of Money And Properly ESt Rev - Licenses And Permits Est Rev - Sale of Prop And Comp For Loss Eat Rev * State Aid 4,316,095 DB1049N 4,137,746 12,700 DB1099N 11,700 145,000 DB2499N 70,000 7,000 DB2599N 10,000 DB269§N 3,000 231,332 DB3099N 326,819 Appropriated Fund Balance 491,000 DB599N 381,020 Page 37 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (DB} HIGHWAY-PART-TOWN Budget Summary Appropriations And Other Uses App - Transportation App - Employee Benefits App - Debt Service TOTA~'A~pi'op,r at, BBs . Other Budgetary Purposes Interfund Transfers TOTAL ~)th~r:Uses TOTAl. Appropriations And Other Uses 3.749,227 DB5999N 569,300 DB9199N 266.900 DB9899N 4,585,427 DB962N 617.700 DB9999N 617~700 5,203,t27 ' 3,339.469 506,900 120,280 500 973,136 Page 38 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (H} CAPITAL PROJECTS Balance Sheet - Cash In Time Oepos~ts TOTAL'Cash Accounts Receivable TOTAL Othe¢ Receivables (net) Stale & Federal Receivables TOTAL state And Federal Aid Receivables Due From Other Funds :~QTAL Due From Other Funds Due From Other Governments 3~oTAI~:DqelF~om Other Governments 17,105,884 3,819,015 11.906 H380 6.494 11.906 6,494 688,774 H410 557,763 688.774 557,763 265.994 H391 115.538 265,994 115,538 398,907 H440 314.878 398,907 314,878 '18,471,466 4.813.688 Page 39 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Balance Sheet ~ Liabilities And Fund Equity Accounts Payable 195,162 H600 284,390 Retained Percentages, Cent Pay TOT ,AL:Retained I;'erca~tages : Bond Anticipation Notes Pa:/able TOTAL Notes payal~le Due To Other Funds TOTAL Due T~ Other Funds TOTAL Lla biltt~es Unreserved Fund Balanc~ A~)oroDriated TOTAL Unreserved Fund Balance. Appropriated Unreserved Fund Balance UnaDeroDrlatea TOTAL Unreserved Fund Balance .Unappropriated TOTAL Fund Equl~ TOTAL Liabilities And Fund Equ 250,914 H605 157,354 6,244,000 H626 6,579,100 1 H630 105,344 5,029.300 H910 1,794,213 6,752,098 H911 -4,106,713 Page 40 nSC Municipality Code 470379000000 (H) CAPITAL PROJECTS Resulls of Operation Detail Revenues And Other Sources Misc Revenue, Other Govts Interest And Earnings Gifts And Donations Premium & Accrued Interest On Obligations St Aid, Other Home And Comm Serv Fed Aid. Cap Projects Interfund Transfers Serial Bonds Bans Redeemed From Appropriations TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 6,071,436 H2389 658,691 H2401 288.354 H2705 H2710 1,482,853 H3989 1,037,948 H4097 5,251,258 280,449 332,020 14,064 557,763 1,754,093 490,706 H5031 139,135 14,650,000 H57t0 8,850,000 1,302,033 H5731 838,596 Page 41 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Results of Operation Detail Expenditures And Other Uses General Govt, Equip & Cap Outlay TOTAL General Govt TOTAL General Government Support Public Safety Cap Proj TOTAL Public Safety Cap proj TOTAL Public Safet~ Highway, Caoital Projects To~AL ~igbway TOTAL Transportation Other Econ & Dev. Equip & Cap Outlay TOTAL Other EC6n &D~v TOTAL Economic As~istan~e And Opportunity Sanitation Equip & Cap OuSay TOTAL ~enltatiOn Misc Home & Corem Serv. Eouip & Cac Oullay TOTA[ Mi$c Home &'Comm Serv TOTAL Hdme Arid Community Services [~ebt Principal. Serial Bonds 108,938 H19972 108.938 108,938 610.593 H30972 610,593 610,893 548.273 H51972 548,273 548,273 12707 H69972 12.707 12,707 87.303 H87972 87,803 11.174.948 H89892 t~,174,948 11,262,281 H97106 1,888,265 1,888,265 f,888~68 2.036.804 2,036,604 2,036,804 182,818 182,818 182,818 0 366.981 366,984 26.243.132 28,243;132 26.610~12 346.300 TOTAL De. bt Principal Debt Interest, Serial Bonds Debt Interest. Bond Anticipation Notes 0 346,300 212.634 H97107 577.177 84.664 H97307 99,892 Transfers, Other Funds H99019 369,897 Page 42 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (H) CAPITAL PROJECTS Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year -1,360,572 H8022 11,781,389 25,982,021 18,017,378 12.840,060 32,111,266 page 43 osc Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (K) GENERAL FIXED ASSETS Balance Sheet Assets Land Buildings Improvements Other Than Buildings Machinery & Equipment Construction Work In Progress Infrastructure 71,122,550 K101 97,735,127 11,817,232 K102 12,728,828 30,653,120 K103 30,693,428 13,702,787 K104 14,457,262 1,472,196 K105 3,428,181 73,633,446 K106 75,373,389 Page 44 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 {K) GENERAL FIXED ASSETS Balance Sheet - TOTAL Irlvestments in Non-Current Government Assets 202 401.332 i 234 416 215 TOTAL Fund Equity 202.401 332 ' 234 4'16 2'~5 TOTAL Llabilitie~ And Fund Equi[y 202.401,332 234,4~6,216 Page 45 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Balance Sheet Assets Cash In Time Deposits 32,854 SF201 1139,271 Due From Other Funds 157,192 SF391 74,366 Page 46 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 ($F) FiRE PROTECTION Balance Sheet Liabilities And Fund Equity Accounls Payable TOTAL ~c0unts Payable Deferred Revenues ~OTAL Deferred Revenues TOTAL Liabilities Unreserved Fund Balance Appropriated TOTAL Unreserved Fund Ba ance - Appropriated Unreserved Fund Balance UnaDoroor~atea TOTAl. Unreserved Fund Balance - Unappropriated TOTAL Fund Equity TOTAL Li~611ities'And Fund EqU ty 12.656 SF600 12.656 12,666 12,656 157.192 SF691 156.201 t57,192 1S6.20t 169,848 168.857 6.400 $F910 5.700 6,40~) 5,700 13.798 SF911 9081 13,798 9;081 20,198 , , : : t4,781 190,046 '- ' . 183,638 Page 47 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Results of Operation ~ei~e~rlp.§o~ ~: ~ ~' ~ ~ ~,, ? ,~s ~g0~:~;: ' ~,E;Cl~¢c,d~t 2098, ~;: Detail Revenues And Other Sources Real Propedy Taxes 499.000 SF1001 541,463 TOTAg R~al Pr~p~d7 Taxes . 54'1i~$3 Interesl & Penalties On Real Prop Taxes 679 SF1090 475 Interest And Earnings 6,055 SF2401 3,229 Page 48 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Results of Operation Detail Expenditures And Other Uses Fire Prolection, Contr Expend 505,140 SF34104 550,575 TOTAL Debt Intereet TOTAL Expenditures TOTAL Detail Expenditures And Other Uses 4a SF97957 10 44 10 505J154 550,584 505,184 550,584 Page 49 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SF) FIRE PROTECTION Changes in Fund Equity ANALYSIS OF CHANGES iN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT ~ EXPENDITURES AND OTHER USES Fund Equity · End of Year 19,648 SF8021 20,198 19,648 SF8022 20,198 505,734 545,167 505,184 550,584 20,198 SF8029 14,760 Page 50 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SM) MISCELLANEOUS Balance Sheet Accounts Receivable 64,422 SM380 72,532 State & Federal Receivables TOTAl-State And,Federa Aid Receivables Due From Other Funds m~AL DU~F~'om Other Funds Prepaid Expenses TO~AL prepaid Expensps 933.870 SM410 16,822 933,870 16,822 230.879 SM391 147,978 230.879 147.978 22.299 SM480 23.875 22,299 23,875 1,619,057 396,8~.2 Page 51 OSC Municipality Code 470379000000 TOWN OF Seuthold Annual Update Document For the Fiscal Year Ending 2008 (SM) MISCELLANEOUS Balance Sheet Liabilities And Fund Equity Accounts Payable TOTAl~ ACdo~nt~Payable Other Liabilities TOTALOfl~e( Liabilities Due To Other Funds ther,Funds Deferred Revenues T0~'~.L Deferred RevenUes ToTnL:bal~illfles Unreserved Fund Balance Unappropriated TO~AL Unreserved Fund Balance - Unappropriated TOTAL Fund Equity TOTAL Liabilities ~nd Fund Equity 1,081,072 SM600 145,172 1,081.072 145,172 48.346 SM688 48.346 48,346 48.346 133.925 SM630 '133,925 0 196.512 SM691 185.612 : t96,$12 '185.612 -- --:1 ¢459,855 379.131 155202 SM911 17711 155.202' 17;71~ 1,616,057 396.842 Page 52 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SM) MtSCELLANEOUS Results of Operation Detail Revenues And Other Sources Real Property Taxes Interest & Penallies On Real Prop Taxes Other General Depadmental income Misc Revenue, Other Gov[s Interest And Earnings Commissions Refunds of Prior Year's Expenditures St Aid, Other Aid (specify) Federal Aid - Other TOTAL Federal Aid TOTAL Revenues TOTAL Detail Revenues And Other Sources 672~235 SMIO01 676.900 802 SM1090 518 2,528,512 SM1289 2,526,821 18,475 SM2389 20,970 14,037 SM2401 6,071 6,543 SM2450 6,490 695 SM2701 385 27,365 SM3089 18,593 1,107,762 SM4089 157,258 1,107,762 157,258 4.376.426 3,414,006 4.376,426 3.414.006 Page 53 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SM) MISCELLANEOUS -Results of Operation Detail Expenditures And Other Uses OIher Gert Govt Suppod. Contr Expend 193,249 SM19894 182,040 '193;249 182~040 193;249 t82,040 insect Control, Pets Serv 49,619 SM40681 49,996 Insect Control, Contr Expend 29,518 SM40684 32,841 Insect Control. Empl Bnffs 4.200 SM40668 4,960 Other Transportation, Pets Serv Other Transportation, Ewuip & Cap Outlay Other Transportation, Contr Expend Other Transportalion, Empl Bnft$ 1,520,581 SM56802 292,082 569,965 SM56804 901.642 332,711 SM56808 347,695 Misc Home & Corem Serv, Contr Expend 16,405 SM89894 12,102 Debt Principal, Serial Bonds Debt PrJncipal, Bond Anticipation Notes 150,000 SM97106 150.000 125,000 SM97306 300,000 Debt interest, Serial Bonds Debt Interest, Bond Anticipation Notes TOTAL Debt interest ' TOTAL ExpehdltUres Transfers, Capital Projects Fund 96,575 SM97107 91,902 57,075 SM97307 54,348 133,925 SM99509 -133,925 Page 54 DSC Municipality Code 470379000000 TOWN OF Southoid Annual Update Document For the Fiscal Year Ending 2008 (SM) MISCELLANEOUS Changes in Fudd 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 210,$99 SM8021 155,201 210,899 SM8022 155,201 4,376,426 3,414,006 4,432,124 3,551,497 '155,201 SM8029 17,711 Page 55 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SP) PARK Balance Sheet Cash In Time Deposits Accounts Receivable TOTAL Otl~er Receivables (nat) Due From Other Fueds TOTAL:DU~ F~*om Other Furtds 480,483 SP201 617.203 480,483 617.203 95 SP380 95 0 283.344 SP391 182.024 283,344 182,024 763¢922 799;227, Page 56 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SP) PARK Balance Sheet Liabilities And Fund Equity Accounts Payable TO:TAL ACFounts Payable Due To Other Funds T0~rAL DaviT6 Other Funds Due To Other Governmen[s TOTAL Dub To Other Gover~r0ents Deferred Revenues TOTAL Deferred Revenues TOTAL Liabilities Unreserved Fund Balance Appropna[eo TOTAL Unreserved Fund Balance -Appropriated Unreserved Fund Balance UnaDDroprlaled TOTAL Unreserved Fund Balance - Unappropr ated TOTAL Fu~d Equity TOTAL L abilities And Fund Equ ty 8.742 SP600 9.880 8.742 9,800 5.726 SP630 5~726 0 11.415 SP631 14.675 '1'1,415 '14,675 283.344 SP691 495.515 283,344 . 195.515 309.227: 220,070 50.000 SP910 93.353 50,000 93,353 404,695 SP911 485,804 404.695 485,804 454.695 579,157 763,922 799,227 Page 57 OSC Mpnicipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 Detail Revenues And Other Sources Real Property Taxes Interest & Penalties On Real Prop Taxes Interest And Earnings TOTAL U~e Of Money A~d Pr~perb/ Unclassified (specify) TOTAL Misceilane~t~ Locel Sources TOTA~ ~ TOTAL Detali ~e~e~es Aha o{:her Sources; :;;: 958,222 SP1001 976,009 958~222 976.009 1,304 SPl090 856 1,304 856 35,031 sP2401 17.814 35,031 17,814 58.259 sP2770 63 235 58,259 63,235 1.052,816 1,057,9'[4 Page 58 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SP) PARK Results of Operation Detail Expenditures And Other Uses Parks, Pets Sen/ 338,624 SP71101 341,526 Parks. Equip & Cap Outlay 135,542 SP71102' 124,206 Parks, Contr Expend 335,794 SP71104 337,047 Parks, Empl Bnfts 44,139 SP71108 44.102 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 50,000 SP97106 50,000 SP97306 Debt Interest, Serial Bonds 4,867 SP97107 3,297 Transfers, Capital Projects Fund TOTAL Operating Transfers TOTAL Other Uses TOTAL Detail Expenditures And Other Uses SP99509 33,274 0 33,274 0 33,274 908,966 933,452 Page 59 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SP) PARK Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Equity - End of Year 310,845 SP8021 454,695 310,845 SP8022 454,695 908,966 933,452 454,695 SP8029 579,157 Page 60 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SR) REFUSE AND GARBAGE Balance Sheet Assets Cash In Time Deposits Petty Cash Accounts Receivable State & Federal Receivables Due From Other Funds Prepaid Expenses 565,988 ~R201 400 SR210 104,562 SR380 SR410 640,802 SR391 54,422 SR480 1,190,890 400 91,417 7,265 335,325 46,670 Page 61 OSC Municipality Cede 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SR) REFUSE AND GARBAGE Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds Deferred Revenues 169.278 SR600 29,985 SR630 604,649 SR691 147,476 553,716 Reserve For Encumbrances TOTAL; Reserve For Enct~mbran~es Unreserved Fund Balance Appropriated TOTALUnreser~ed=Fund Balance -,Approl)dated Unreserved Fund Balance Unappropnated TOTAL Unreserved Fund Balance- I. Jnappropria~;ed TOTAL Fund Equity TOTAL Liabilities And Fund Equity 25,770 SR821 25,770 77.400 SR910 77.400 459,092 SR911 459,092 562,262 1.366.174 0 100.000 100.000 870.774 670.774 970.774 1,671,966 Page 62 osc Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SR) REFUSE AND GARBAGE Results of Operation Detail Revenues And Other Sources Real Property Taxes 2,419,362 SRI001 2,070,745 Interest & Penalties On Real Prop Taxes 3,290 SR1090 1,816 TOTAL I~eal ~r~e~ fax !~em~ Refuse & Garbage Charges 1,498,230 SR2t 30 1,768,732 TOTAL ~partm~i Incom~ '1;a98;230 Misc Revenue, Other Govts 905 SR2389 854 TOTAL inta~overnmentai Charges / 905 Interest And Earnings 66,588 SR2401 35,907 Permits, Other 164,188 SR2590 162,260 Sales of Scrap & Excess Materials Sales of Equipment Insurance Recoveries T0~AL §b e of'propert4j A~d C~mpensati0n F~,~ t~oss Refunds of Prior Year's Expenditures TOTA[~ Mis~ellaneoi)s Local Sources~ StAid, OtherAid specify) Additional Descno[~on NYS DEC gram TOTAL State Aid TOTAL Revenues Intedund Transfers TOTAL Interfund Transfers TOTAL Other Sources TOTAL Detail Revenues And Other Sources 214,273 SR2650 18.000 SR2665 12,576 SR2680 244,850 73.265 SR2761 73,265 0 4,470,676 0 4,470;676 SR3089 SR5031 207,733 2O7,733 889 889 6§.97' 68,971 4,317.907 369,897 369,897 369,897 4,68~04 Page 63 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SR) REFUSE AND GARBAGE Results of Operation Detail Expenditures And Other Uses Refuse & Garbage, Pars Serv Refuse & Garbage, Equip & Cap Outlay Refuse & Garbage, Contr Expend Stats Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Erupt Bnfts Disability Insurance, Empl Bnfts 958,730 SR81601 971,055 120.570 SR81602 43.812 1,796,013 SR81604 1,992.428 103,652 SR90108 90,241 73,305 SR90308 74,246 48,480 SR90408 48,203 22,853 SR90558 24,555 Debt Principal, Serial Bonds Debt Principal, Bond Anlicipation Notes 234,098 SR97 !06 416,600 539,311 SR97306 135,000 Debt Interest. Serial Bonds 135,091 SR97107 Debt Interest, Bond Anticipation Notes 178,590 SR97307 S51;$00 222,007 17,617 Transfers, Other Funds 307,962 SR99019 243,529 Page 64 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SR) REFUSE AND GARBAGE Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year Restated Fund Equity - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fu~d Equity - End of Year 610,242 SR8021 562,262 610,242 SR$022 562,262 4,470,676 4,687,804 4,518,655 4,279,292 562,262 SR8029 970,774 Page 65 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (ss) SEWER Balance Sheet Assets Cash In Time Deposits 278.601 SS201 287,439 Sewer Rents Receivable TO~L Other Rec~ Yables (net) Due From Other Funds TOTAL Due From Other FUnds TOTAL Assets 1 144 SS360 1.871 ~,144 1,871 1.522 SS391 974 1.522 9~4 281,267 290,294 Page 66 USC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SS) SEWER Balance Sheet Liabilities And Fund Equity Accounts Payable Due To Other Funds Deferred Revenues 2,882 SS600 872 2,000 SS630 941 SS691 1,058 Unreserved Fund Balance Appropriated TOTAE Unreserved Fund Balance ~ Appropriated Unreserved Fund Balance Unappropriated TOTAL Unreserved Fund Balance - Unappropriated TOTAL Fund Equity TOTAL Liabilities And Fund Equity 90,250 SS910 75,000 90.250 ~5,000 185.194 SS911 213.354 185,194 213,354 275,444 258,354 281,267 ~90,284 Page 67 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document' For [he Fiscal Year Ending 2008 (sS) SEWER Resulls of Operation Detail Revenues And Other Sources Real Property Taxes Special Assessments Interest & Penalties On Spec Assessments Sewer Charges Interest And Earnings TO;rALDe~ai R~enuesAndOtherSoU~'ces : : ' 62.879 18.296 SS1001 3.245 1,614 SS1030 2.422 5,667 27 SS1091 4 29.312 SS2122 34.565 34,565 13.629 SS240' 5.926 5,926 52,879 46,162 _ 46,162 Page 68 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SS) SEWER Results of Operation Detail Expenditures And Other Uses Sewage Treat Disp, Contr Expend 49,847 SS81304 26,868 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes TOTAL Debt Principal Debt Interest Serial Bonds Debt Interest Bond AnticiDahon Notes TOTAL Debt Interest TOTAL Expenditures TOTAL Detail Exoenditures And Other Uses 1,960 SS97106 1,960 SS97306 3,700 1,960 5,660 355 ssg7107 304 ssg7307 419 355 723 52.162 33.252 52,162 33,252 Page 69 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal year Ending 2008 ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity. Beginning of Year Restated Fund Equit~ - Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Fund Ec!uit~-End of Year 264,727 SS8021 275,444 264,727 SS8022 275,444 62.879 46.162 52,162 33,252 275.444 SS8029 288,364 Page 70 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (SS) SEWER Budget Summary Estimated Revenues And Other Sources Est Rev'- Real property Taxes 3,245 SS1049N 4,500 Est Rev - Real Property Tax Items 20 SS 1099N Est Rev- Departmental Income 30,700 SS1299N 33,000 Est Rev - Use of Money And Propedy 9,000 SS2499N 5,705 Appropriated Fund Balance 90,250 SS599N 75.000 Page 71 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (ss} SEWER Budget Summary Appropriations And Other Uses App - General Government Support App - Home And Community Services App - Debt Service T~TAL A~p~pri~ti~ ~nd ~the~ Uses 8,900 SS1999N 12,000 37,100 SS8999N 37,500 87,215 BS9899N 68,705 133,215 t33,215 Page 72 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (TA) AGENCY Balance Sheet Assets Cash 5.111.920 TA200 Time Deposits 615.929 TA201 TOTAL Cash 5.727.848 Due From Other Funds 25.484 TA391 TO'[AL D~e:l~rom Other Funds 25,484 Other Assets TA489 ~oTAl~',Otiier !:: ::. 0 444.195 10,795,256 6O0 600 Page 73 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (TA) AGENCY Balance Sheet Liabilities And Fund Equi~ Due To O[her Funds 34,367 TA630 69,433 Due To Other Governments 4,860,763 TA631 10.024,906 Income Executions -37 TA23 Assoc & Union Dues TA24 11,585 Social Security Tax 363 TA26 Guaranty & Bid Deposits 857,875 TA30 689,933 Page 74 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Balance Sheet - Assets Misc Current Assets V489 Page 75 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Balance Sheet Liabilities And Fund Equity Unreserved Fund Balance Unappropriated V911 Page 76 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 Resulls of Operation Page 77 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (V) DEBT SERVICE Results of Operation Detail Expenditures And Other Uses Repayments To Esc Agent Adv Ref Bonds 20 V99914 Page 78 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (v) DEBT SERVICE Changes in Fund E~'uity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity - Beginning of Year 20 V8021 Restated Fund Equity - Beg of Year 20 V8022 DEDUCT - EXPENDITURES AND OTHER USES 20 Fund Equity - End of Year V8029 Page 79 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (W) GENERAL LONG-TERM DEBT Balance Sheet Assets Total Non-Current Govt Liabilities 32,127,815 W129 39,646,426 Page 80 OSC Municipality Cede 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2008 (W) GENERAL LONG-TERM DEBT Balance Sheet Liabilities And Fund Equity au(agments And Claims Payable Compensated Absences TOTAL Other Liabilities Bonds Payable TOTAL BondAnd Long Term Liabilities TOTAL Liabilities TOTAL Liabilities And F~nd Equity 136.418 W686 93,102 6.971.397 W687 7.378.323 7,107,816 7,47'1~426 25.020,000 W628 32,175,090 25,020,000 32.'176;~0(~ 32.127.815 39.646.426 32.127.815 39.646.426 Page 81 OSC Municipality Code 470379000000 TOWN OF Southold Financial Comments For the Fiscal Year Ending 2008 Page 82 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipaiion Note No. 2007000002 EDPCODE Amount Month and Year of issue 4/20/2007 purpose of Issue Air Vac Drain Cleaner ,Current Interest Rate 0190 O U t § ! ~ n_d.!r!~ ..B. ~_i._n_~i ~_g ~ f .¥ e a r . . ~2P18761 278.000 Prior Y~ar ,~djus'~ment ....... Issued D~[ipg the Fiscal Year (do not include renewals here) i2P18763 0' Paid During the Fiscal Year (do not include renewals here) 2P18765 ~6.0~0 Outs!apding. End of the Fisca! Year 2P18767 222.000 Final Mat~,rity Date 4/20/2012 .Bond Anticipation Note No. 2004000004 EDPCODE Amount Month and Year of issue 9/10/2004 .Purpose of Issue police Car Cameras Current Interest Rate 0228 Outstanding Beginning of Year ~2P18761 50.000 Prior Yea? Adjustment 0 Issued During the Fiscal Year (do not include renewals here) 2P18763 0 Paid During the Fiscal Year (do not include renewals here~ 2P18765 32.000 Outstanding End of the Fiscal Year 2P18767 18.000 Final Maturity Date 9/10/2009 Bond Anticipation Note No. 2007000005 EDRCODE Amount Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Pna{ Yeti ~ju?troent Issued During the Fisca Year (do not include rgnewals here) Paid D~r!~g.~b¢. ~-!~1 Year 9/7/2007 [he Sea Road merove .0228 2P18761 30.000 O 2P18763 O: 3.000 (do Rg.! !.~!.Hdg. ~e.r~e_~_alS ners . .2P18765 .... Outstanding End of the Fiscal Year 2P18767 27.000' Final Maturity Date 9/712017: Page 83 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond Antic!Pation Note No. 2008000002 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beglnmng of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals heret Paid During the Fiscal Year (do ~ in~lL~de ~epewals here) Final Maturity Date · EDPCODE Amount 9/5/2008 Fax Receiver Software' .0228 2P18761 0 0 2P18763 75,000 2P18765 2P18767 75,000 9/5/2013 Bond Anticioation Note No. 2003000004 EDPCODE Amount Month and Year o~ Issue 9/12/2003 Purpose of Issue Highway Equioment Current Inlerest Rate 0135 0U~and!r~g Beg!nn!~g. of Year 2P18761 80 000: Prior ~a~ ,~,djust men! 0 Issued Du.r_!ng !r~.~.E!~¢~! yea( . (do not include renewals here) ;2P18763 0 Paid During the Fiscal .year (do not include renewals here) .2P18765 80 000 Outstanding End of the Fiscal Year 2P18767 0 Final Maturity Date 9/12/2008 Bond Antic pat!gn Note No, 2004000001 :EDPCODE Amount Month and Year of Issue 4/23~2004 Purpose Of .l~s~e ~et Sweeper/Pay oade~ Current Interest Rate 019¢' Outstag~.!Q~ I~_e_g.!8O_!.n.~ of Year C'rior Year Adjustment Issued During the Fiscal Year (.do not include renewals here) Paid During the Fiscal Year ~ao no[ include renewals nere) Outstanding End of the Fisca Year Final Maturity Date 2P18761 81.000 0 2Pt8763 0 2P18765 62.000 2P18767 19 000 4/23/2009 Page 84 OSC Municipality Code 4703790p0000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticioation Note No. 2006000001 Month and Year of Issue Puroose of Issue Current Interest Rate outst~d!~ ~e~ n~lr~g of Prior Year Adjustment issued .D_u~ring the Fiscal Year (do not !~clude ~'en~wals here) Paid Dur!ng the Fiscal..¥ear tdo no.! ~nclude renewals here) Ou!~ta.nc~ing End o~_t~.~ ~iscal Year Final Maturity Date 'EDPCODE Amount 9/8/2006 ~mergency Generators 0373 :2P18761 120.000 0 2P1876¢ 0 2P18765 35,000 ~2P18767 85,000 9/8/2011 Bond Anticipation Note No. 2003000003 Month and Year of Issue Puroose of issue Current Interest Rate Outstanding Beginning of Year Prior Year Ac.us~menr Issued During the Fiscal Year (do not Include renewals nere Paid During the Fiscal Year ,ao no( incl~cde renewals r~erel Outstanding End of the Fiscal Year Final Maturity Date EDPCODE Amoun'~ 9/12/2003 Strawberry Fields .0228 2P18761 40.000 0 :2P18763 0 40,0oo ~2P18767 0 9/12/2008 Bond Anticioat~on Note No 2008000003 Month and Year of Issue Purpose of issue Current Interest Rate Outstanding Beg~nmng of Year Prior Year Aajustmenr ssued During the Fiscal Year ~do not include renewals here) Paid During th~ E!~c. al Year (do not inclupe renewals n~re)' outst~odi9g. End of the Fisca! year Final Maturity Date iEDPCODE Amount 9~5/2008 ;olid Waste Eeulemem .0228 2P18761 0 0 2P18763 490 000 ~P18765 2P18767 490 000 9/5/2013 Page85 OSC Municipality Code470379000000 TOWN OF Southotd Statement of Indebteaness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit il~ond An!!._c!p~!ion_.Note No. 2007000003 EDPCODE Amount Month and Year of Issue 4/20/2007 .Pur~Rse of Issue Center Imorovem~nrs Current Interest Rate .0190 outstanding Begi.~.(gg 9f Ye.q[ 2p1§~.6! .... 2qO o0o Prior ~9( ,~ju~'cr0e~t 0 Issued Dudr~g the Fiscal Year (do not include renewals here) ~P18763 0' P~i~.D~.r)0g the Fis~a! ~ear (d9 nc~t.m~l~.d~ renewal~ h?e~ 2P18765 40 000 2P18767 Outstanding Er~d.gf.~he. Fi.sc¢! year 160 000 Final Maturit)~ Date 4/20/2012 Bond ArCtic!patton Note No. 2002000002 .EDPCODE Mo[Yd~ ~nd ~e¢( of !ssu~ Purpose ~f current Interest Rate Ou!standing B~]ion!ng of Year 2P1876~1 prior Yea[.,~djustro~ot issued Du~(ng ~he Fi~l Year (do not include renewals here) !2P18763 Paid During the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year 2P18767 Final Maturi!y Date Amount 8/30/2001 oickett landfill closure .0000 360 000 0 360 000 0 813012004 Bo0d Ant!c!pation Note No, 2008000004 EDPCO.DE Amount Month and Year of Issue 9/5/2008 Purpose of Issue "n! D0.mai~ Acc~pisition Current Interest Rate 0228 Outstand ng Beginning 9f Year :2P18761 0; ~ r~o~ year A~Ij~ st.rn_en~ 0 ,Issued D_urmg .t~e.F.!~q~l.~r (do not nclude renewals here) 2P18763 400 000 Baid During the Fiscal Year (do not include renewals here) 2 P 18765 Outstanding End of the Fiscal Year 2 P 18767 400 000 F~nal Maturity Date 9/5/2013 Page 86 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constltubona Debt Limit Bond Antioipa_ti_o.~._N(~ No.. 2004~0(~002 ~EDE'C~C~DE Month and Year of ~ssue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year ldo not include renewals nere) Paid During the Fiscal Year ~do not include renewals here) 2P 18765 Outstanding End.gl ~e Fiscal Year ,2P18767 Fina Matudty Date Amount 9/10/2004 Landfill Eauiement .0228 2P1876! 270.000 0 2P18763 0 135.000 135300 9/10/2009 Bond Anticipati~q N~.No 20070000~4' Month and Year of ~ssue Purpose of Issue Current Interest Rate Outstanding Beginning of Year 2P18761 D.~or Year Adjustment issued During the Fiscal Year do not include renewals nere} ,2P18763 Paid During the Fiscal Year (do not include renewals nere) 2 P 18765 O_u!~_a qd_!~g_ ~p _d. ~f.!~ ?!scal Year 2P18767 Final Maturity Date !EDPCODE' Amount 9/7/200~ he Sea Road Imcrove .0228 150,000 0 0 150 D00 9/7/2012 Bond Anticioation Note No, 2008000001 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Prior Year Adjus~mem Issued During the Fiscal Year ~ao not include renewals here) 2P18763 Paid During the Fiscal Year (ac not include renewals nere) 2P18765 Outstanding Er]d O~ th~ ~=isgaI Year 2P18767 Final Maturit'~ .D@t~ ............. !EDPCODE Amount 4/19/2008 Center Imorovemems 0190 2P1976' 0 0 72 000 72 300 4/17/2012 Page 87 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note N0. 20030000Q1 EDPCODE Amour( Month and Year of Issue 9/12/2003 Purpose of Issue New London Terminal Current Interest Rate ,0220 ssued Dur n~ the Fisca Year ~P18763 , (do not include r~.n~ls ~er~) ..... 0 (do not include renewals here) 2P18765 300,000; 'F hal Mat~ri~ ~a~e ; 9~!2!2806 Bond Anticipation Note No. 2008000005 Month and Year of issue Purpose of Issue Current nterest Rate Outstanding B~gtgoln9 qf Y~ar P(ior Year Aaj_us~men~ Issue~ ~urin~~ ~ E.!~(~!.ye~r ~ (do not inCu~e renewals here) ,2P18763 EDPCODE Amount 12/16/2008 ~ste Distnc~ Eeulumen[ 0300 2P18761 0 100,000 Paid During. the [:!§c~! year ~do not include renewals here i2B18765 Outstanding End of the Fiscal Year ,2P18767 ~i00.0(~ Final Maturity, Date 9/5/2013- Bond Anticioation Note No 2008000006 Month and Year of Issue Purpose of Issue Current Interest Rate Outstaqding Beginn!ng O? Ye~'. Prior Year Ad.ustment issued During.'~. ~i~_al. ~ear (do not include renewals nere} Paid Dyring the Fiscal Year (do not include renewals here) outstanding End of the Fiscal Year Final Mat?rity Date EDPCODE Amount 12/16/2008 CK Park District Soorts 0300 2P18761 0 O .2P18763 199.800 2P18765 2P18767 199.800 9/5/2013 Page 88 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limil Bogd ~r~_ticipatlon Note No, 200700000~ EDPCODE Amount Month and Year Of Issue ~/7i2007 !Purpose of Issye ~ . :Current Interest Rate Outstanding Beginning 9.~ year 2P18761 Prior Year Adj~.~mep.~ . Issued During th~ ~iscal Year. (do not include renewals here) Paid During the Fiscal Year (do not include renewals here~ Outstanding End of the Fiscal Year Final Maturity Date Animal Shelter .0228. 2,890.000 0 2P18763 0 2P18765 10.000 ,2P18767 2.880.000 9/7/2012 Month and Year of Issue 'Purpose.of Issue Current Interest Rate outs!apding' ~3e~inning of Year :_Prio( ~ar Adjustment Issued Durinc~ me Fiscal Year trio not include renewals here~ Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fisca Year Fin~ Maturity Date ',EDPCODE Amount 4/18/200~ Hig~;ay Dump Truckl .0190' 2P18761 0 0 2P18763 110 000 2P18765 2P18767 110 000 4/18/2013 Bond Anticipation .N. qt9 No. 2007000007 Month and Year of Issue Purpose of Issue Current Interest Rate O ~:anding Be.~ inning, of Year . 2P 18761 Prior Year Ad, ustment Issued During the Fiscal Year (do not include renewals nere~ 2P18763 Paid During the Fiscal Year ,do not include renewals here, 2P 18765 Outstanding End of the Fisca~ Year 2P18767 Final Maturity Date iEDPCODE: Amount 12/5/2007 vet Dist Imerovements 0190 125 000 3 700 121 300 4/20/2027 Page 89 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticioation Note No. 2008000008 EDPCODE Amount Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Prior Year Ad, ustment ssued During the Fiscal Year (do not nclude renewals here) 2P18761 4/18/2008 wn Hal improvements 0190 0 0 ',2. P18763 95,000 (do r~9~ inc_!~d~, f?.~.w_~.ls_ O ut s~ao.¢ ~gg_. ~.Q~..~ .~ ~(s~a~ ~9r ~?¢ ~767 95,000 Final Maturity Date 4/18/2013 Bond Anticipation Note No. 2003000009 EDPCODE Amount Month and Year of Issue 4/25/2003 Purpose of Issue ,Grffing St. Parking Lot Current Interest Rate 0208 Outstanding Beginmng .of Year 2P18761 20.000 Prior Year Adjus!m~r]t 0 ssuea During the Fiscal Year ~2P1~763 0 (do not include renewals h?re) , . Paid During the Fiscal Year (do no!~nclude renewals here~ ~P;~¢~ ...... 20.000' · Outstanding End of the Fiscal Year 2P18767 0; =inal Maturity Date ~ 4i;~5/2008 Bond Anticipauon Note No. 2004000003 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginqlng o~ Year Prior Year Adjustment ssued During the Fiscal Year (do not include renewals here, ~2P18763 Paid During the Fiscal Year (do _n~t !0clud_.e i~eqe~vals t~ere) outstanding End O? !he Fiscal ~ear ;~_P18767 =inal Maturity Date EDPCODE Amount 9/10/2004 Town Hall Annex i~ 0228 2P18761 .50.000 20.000 9/10/2009 Total Bond Anticipation Note Outstanding Beg. ir)Di.~g of Year Prior Year Adjustment Issued Durin? Fiscal Year Paid During Fiscal Year Outstanding End of Year **' Bond Antic 2ation Notes Redeemeo From Bond Proceeds During Fiscal Year 2P18885 Page 90 Amount 6.244 000 0 1.541.800 1.206.700 6.579.100 368,104 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit ~Bond No, 2000000007 :EDPCODE Amount Month and Year of Issue 5/1/1999 Purcose of Issue Tn S~)ace Preservatiod Current Interest Rate 4,7000 :0 _u.~t_a_o_d. !_n g 'P(!P(Yea~ AdJU~en.t 0 Issued .... (do not include renewals here} 2P18773 0 Paid During the Fiscal Year (do not include renewals here~ 2P18775 90 000 Outstanding End of the Fiscal Year 2P18777 1.160 000 Final Maturity Date 5/1/2019 Bond No. 2000000006 EDPCODE Amount Month and Year of Issue 5/1/1998 Purpose of Issue ' ufa Land Preservation Current Interest RaTe 4.8500 ~ ut.~!a_ ~d.ir)~. Be~i0 n !~¢].~f _Y.~r ~21~...8.7_7.1 1..~2.o 0p(~ Prior Year ~d~gstr~.n_.~ 0 Issued D?n§ the Fiscal Year (do not include renewals here) 2P18773 0 Paid During the Fiscal Year tdo not include renewals here 21518775 100,000 OutstandiRg End of the Fisca Year 2P18777 1.120 000 Final Maturity Date 5/18/2018 Bond No. 2005000004 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Prior Year Adjustment Issued Durir.~ the Fiscal Year ('do not include renewals here, Paid During the Fiscal Year taa not include renewals hereJ Outstanding E0d of the. Fiscal Year Final Maturity Date EDPCODE Amount 2/8/2005 :efunding Serial Bonds 2.5000 :2P18771 1.6t5 000 0 2P18773 0 2P18775 245.000 2P18777 1.370.000 2/15/2015 Page 91 OSC Municipality Code 470379000000 TOWN OF Soulhold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2005000003 Month and Year of Issue Purpose of Issue Current interest Rate Outstanding Beginning of'year 2P18771 Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) 2. P18773 Paid During the Fiscal Year (de not inc. lude.re_n.~w~!s here) i2P18775 Final Maturity Da~e EDPCODI~ Amount 3/1/2005' New London Termina 0375 2.550.000 0 150.000 2,400,000 9/1/2021 Bond No. 2000000002 ,EDPCODE Month and Year of Issue P~'pose of'Issue Current Interest Rate O~tstanding Beginning of Year 2P18771 Prior year Adjustment Issued During the Fiscal Year (do not include renewals here, 2P18773 Paid Dudng the Fiscal Y~a~ (do not include renewals here) 2P18775 Outstanding` ~ 9~_the Fiscal Year 2P18777 Final Maturit~ Date Amount 2/15/1991 Various 63750 400.000 0 100,000 300,000 2/15/2011 Bond No. 2004000008 Vionth and Year of Issue Purl~ose of Issue Current Interest Rate outs!a.~d!ng Beginning of Year Pricer y~? Issu e~...~u (!g.g_~h~ ~ Fi~_c. aI ~ r (do not include renewals here) Paid Dur!ng the Fiscal ~'ear (do not include renewals here' Outstandin~ End of the Fiscal Year Final Maturity Dale EDPCODE Amount 7/22/2004 hogue Landfill Closure 1.2010 2P18771 3.110.000 0 2P18773 0 ,2P18775 245.000 2P18777 2.865.0~0 2/15/2018' Page 92 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond N6 2007000001 Monti' and Year of Issue Purcose of Issue Current Interest Rate Outstandi~9. B~g.i~Ring of Year Prior Year ~djustment Issued Dur!ng the Fiscal Year (do not include renewals here) i2P18773 Paid Du (!nc.. th~ .Fiscal_~'¢ai~ (do not include renewals here' 2P18775 Ou tst ~ n_d!~g.,~ n~.~.~.~l~. ~i$c~! ?'ear . 2P'.8777 Final Maturity Date EDPCODE Amounl 4/15/2OO7 ~c mprovement Bonds, 0400 2P!8.771 1~,(~5g, 0.00' 0 700,000 13,950,000 4/15/2030 Bond No. 2000000014 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Prior Year Ad.~s~r~en~ issued During rne Fiscal Year [do not ~nclude renewals here' Paid Durin9 the Fiscal Year ¢o r~ot include renewals here) Outstar~ding End of the Fiscat Year Final Maturity Date EDPCODE Amount 2/15/1996 ~ Landf Closure 3.9000 ~2P18771 1~.0_,000 0 2~18773 0 :2P18775 15 000 2P18777 105,000 12/15/2014 'Bond No, 2008000009 ,EDPCODE Amount Month and Year of Issue 5/15/2008 Purpose of 'Issue 'ious Purooses -- 2008 Current Interest Rate 0400 Outstanding B~inni~g ~f year 2P' 8771 0 Prior Year Ad. ustment ~ssuee During ~ne Fiscal Year (do not ~nclude renewals here, Paid During the Fiscal Year {do not include renewals herei outstanding End of the Fiscal Year ~inal Maturity Date 0 2P18773 8.850.000 2P'8775 2P' 8777 8,850 000 5/15/2030 Page 93 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2008 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2004000009 iEDPCODE Amount Mor~{h ~d"~;~: ~ i's~J~ 9/"i ~)~004 Purpose of Issue Mattituck Park District Current Interest Rate .0314 Qt~t~ta~.d !n~.._B. e~ii~n r~in~g of year 2P187"/1 ;i05.090 l~r!9?'ff~.r~dj u srr~9 r~ 0 !ssued [~udp9 f~he Fiscal Year (do not include renewals here) 2P18773 0 t~a!d. D_ _ur!.ng the F!s~a! Y_gar (d0. ng.t, i.~!~ ~1~ .~¢~e_~l~ ~h.ere) ~.l..§~a,,n_~!Og..~p¢ R[ the Fiscal Year Final Ma'~ur!ty Date 2P18775 50.000 '2P18777 55 000 9/15/2009 Total Bond Outstanding Beginning of Year P~i~ ~Ye ~.1~ ~dJustment I~sued [~U~'(~.g. Fiscal Year Paid ~ring Fiscal Year Outstanding End of Year Amount 25,020,000 0 8.850,000 1,695 000 32.175 000 Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond Amoun( Outstanding Beginn!ng 9f year 31,26A,0QQ Pri0r Year AdJ~tmen! 0 IsSU~¢ ?uring Fiscal y~ar : 101391,80~ Outstanding End of Year 38,754,100 Page 94 OSC Municipality Code 470379000000 TOWN OF Southold Maturity Schedule For the Fiscal Year Ending 2008 For Bonds Issued During The Fiscal Year Ended 2008 EDPCODE Indebtedness No, .P_~rpose o;f !s_sue Fg.r. S!a~,~?mpt~-oll~.use On ~, To~a! R~i~cipat Date of Issue Interest Rate 2008000009 Various Purposes -- 2008 '2P3CE ~2P3PR 8 850.000 ,2P3DT 5/15/20~)8 ~P3PC ..................... .040Od F!n~l ~l~tU¢!y Date ;2 P3DM 5/15/2030 Amount of Principal Redeemed m or to be Redeemed in Fiscal Year ending in (The Last Two Digits of the EDP Code Correspond [o tne FiscalYear Ended) 2P309 2P310 2P311 2P312 2P313 2P314 2P315 2P318 2P317 2P318 2P319 2P320 2P321 2P322 2P323 2P324 2P325 2P326 2P327 2P328 2P329 2P330 325,000 325.000 325 000 350 000 350.000 350,000 375.000 375.000 375 000 400 000 400 000 400.000 425,000 425 000 425 000 450.000 450,000 450 000 450.000 475.000 475 006 475 000 Page 95 OSC Municipality 470379000000 TOWN OF Southold Schedule of Time Deposits and Investments For the Fiscal Year Ending 2008 CASH: On Hand Demand Deposits Time Deposits Total COLLATERAL: - FDIC Insurance Collateralized with securities held in possession of municipality or its agent Total EDP Code Amount 9Z2001 $2,444,00 9Z2011 $17,904,062.00 9Z2021 $9,958,702.00 $27,865,208.00 9Z2014 $1,100,000.00 9Z2014A $37,447,837.00 $38~547,837.00 INVESTMENTS: w Securities (450) Book Value (cost) Market Value at Balance Sheet Date Collateralized with securities held in possession of municipality or its agent 9Z4501 9Z4502 9Z4504A - Repurchase Agreements (451) Book Value (cost) Market Value at Balance Sheet Date Collateralized with securities hetd in possession of municipality or its agent 9Z4511 9Z4512 9Z4514A Page 96 OSC Municipality Code 470379000000 TOWN OF Southold Local Government Questionnaire For the Fiscal Year Ending 2008 1) Does your municipality have a written procurement policy? 2) Have'the financial statements for your municipality been independently audited? If not, are you planning on having an audit conducted? 3)' Does your local government participate in an insurance pool with other local governments? 4) Does your local government participate in an investment pool with other local governments? 5) Does your municipality have a Length of Service Award Program (LOSAP) for volunteer firefighters? 6) Does your municipality have a Capital Plan? 7) Has your municipality prepared and documented a risk assessment plan? If yes, has your municipality used the results to design the system of internal controls? 8) Have you had a change in chief executive or chief fiscal officer during the last year? 9) Has your Local Government adopted an investment policy as required by General Municipal Law, Section 39? Response Yes Yes Yes Yes No Yes No No Yes Page 97 TOWN OF Southold Employee and Retiree Benefits For the Fiscal Year Ending 2008 ...... ~of~! ,p~r~,Time Employees: i. ..... Acco~t Description Total ¢ of Full Employees Code Expenditures Time Time (All Funds) Employees 90108 ~te'~;e ~en~ ~ y~em 90158 Police and Fire Retirement 90258 Local Pension Fund 90308 Socia{ Security 904~ "W~e¢~ Comeensauon Insurance 90458. Life nsurance 90508 U nemDIoyment Insurance 90558 Disability Insurance 90608 Hospilal and Medical Denta nsurance 90708 Union Welfare Benefits 90858~SUDolemenlal Benefit Payment to Disabled Fire Fign[ers 91890~ Olher Employee Benefits Total Computed Total From Fir~ancla Section (comparabve pumoses only~ S0.00, $8,~42.$22.9~ Page 98 OSC Municipality 470379000000 Energy Type Gasoline Fuel O Natural Gas Electricity Coal Total Expenditures $323.745 $704 336 $36.198 $32.29~ $305134 $ TOWN OF Southold Energy Costs and Consumption For the Fiscal Year Ending 2008 Total Volume Units Of Measure 112.02~ ga~ons 18' ,007 gallons 11.370 gallons 19.713 cubic feet 1.623.29' KHOWa[tS [Otis Alternative Units Of Measure therms Page 99 OSC Municipality 470379000000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Scott Russell , hereby certify that I am the Chief Fiscal Officer of the T(~wn of South01d and that the information provided in the annual financial report of the To,~'n of Southotd , for the fiscal year ended 12/31/2008 , is TRUE and correct to the best of my knowledge and belief. By enterin9 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 Southold's annual financial report for the fiscal year ended 12/31/2008 and filed by means of electronic data transmission, John Cushman Name of Report Preparer if different than Chief Fiscal Officer Scott Russell Name (631) 765-4333 Supervisor Telephone Number Title 04/03/2009 Date of Certification PO Box 1179, Southold, NY 11971 Official Address (63!) 765-1889 Official Telephone Number Page 100 Municipality Code 470379000000 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 A. Summary of Significant Accounting Policies The financial statements of the Town of Southold have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the government's accounting policies are described below. 1. Financial Reporting 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, 2008 A. Summary of Significant Accounting Policies (continued) 1. Financial Reportin.q 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 Southold Park District, established in 1907 Mattituck Park District, established in 1941 Complete financial statements of these component units can be obtained from their respective administrative offices: Orient Mosquito District Main Road Orient, NY 11957 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 Accounting The Town of Southold uses funds and account groups to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. An account group, however, is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect net expendable available financial resources. The Town records its transactions in the fund types and account groups described below: TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 A. Summary of Si.qnificant Accounting Policies (continued) 2. Fund Accountinq (continued) Fund Categories Governmental Funds - Governmental funds are those through which m~)st 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: Highway 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 Projects 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 Agency 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, 2008 A. Summary of Significant Accountin.q 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 Lonq-Term Debt Account Group - used to account for all long-term debt except that accounted for in proprietary and special assessment funds. 3. Basis of Accounting/Measurement Focus Basis of accounting refers to when revenues and expenditures and the related assets and liabilities are recognized in the accounts and repoded 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. Compensate~t absences, such as vacations and sick leave, which vests or accumulates, are charged as an expenditure when paid Account Groups - General fixed assets are recorded at actual or estimated cost or, in the case of gifts and contributions, at the fair market value at the time received. No provision for depreciation is made. General long-term debt liabilities are recorded at the par value of the principal amount. No liability is recorded for interest payable at maturity. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 A, Summary of Significant Accounting 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 Equity 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 Equipment - General Fixed assets purchased for general governmental purposes are recorded as expenditures in the governmental funds and are capitalized at cost (or estimated historical cost for assets purchased prior to 1976) in the General Fixed Assets Account Group. Contributed fixed assets are recorded at fair market value at the date received. Fixed assets consisting of certain infrastructure type improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks, drainage and lighting systems, have not been capitalized. Such assets normally are immovable and of value only to the Town. Therefore, the purposes of stewardship for capital expenditures can be satisfied without recording these assets. No depreciation has been provided on general fixed assets, nor has interest on general fixed assets construction in progress been capitalized. Deferred Revenue Deferred revenues are those where asset recognition criteria have been met, but which revenue recognition criteria have not been met. Such amounts have been deemed to be "measurable" but not "available" pursuant to GAAP. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 A. Summary of Significant Accounting Policies (continued) 5. Assets~ Liabilities and Fund Equity (continued) Long-Term Obligations 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 podions 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, 2008 A. Summary of Significant Accounting Policies (continued) 6. Revenue and Expenditures continued) Ints~und Revenues Interfund revenues are quasi-external transactions in the operating funds that represent amounts charged for services .or facilities provided by that operating fund. The amounts paid by the fund receiving the benefits of the service or facilities are reflected as an expenditure of that fund, Operating Transfers Operating transfers represent payments to the Risk Retention Fund and Capital Projects Fund from other funds for their appropriate share of the risk retention and capital projects. 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, 2008 B. Stewardship~ Compliance~ Accountability Bud.qetary Data 1. Budget 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 ff)r all funds. b. After public hearings are conducted to obtain taxpayer comments, no later than November 20, the Town Board adopts the budget. c. The Town Board must approve all modifications of the budget. However, the Supervisor is authorized to transfer certain budgeted amounts within departments. 3. Material Violations of Finance Related Activities There are no material violations of finance-related provisions. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 B. Stewardship, Compliance~ Accountability (continued) 4. Fund Balances 1. Certain funds of the Town apply to areas less than the entire Town. equity at December 31,2008 is allocated as follows: General Fund (Town wide) Special Revenue Funds General Fund Part Town 754,264 Highway Fund -- Part Town 922,564 Special District Funds Orient by the Sea Road Improvement District 999 East-West Fire Protection 14,781 Southold Wastewater Disposal 251,870 Fishers Island Sewer 36,484 Solid Waste Management (25,696) Discretely Presented Component Units Fishers Island Refuse & Garbage 996,470 Fishers Island Ferry 8,788 Cutchogue-New Suffolk Park 159,308 Southold Park 120,058 Orient-East Marion Park (6,647) Mattituck Park 306,438 Orient Mosquito 8,923 Total ~$6,910,930 $ 3,362,326 The fund Deficit Fund Balances The capital projects fund, the Solid Waste Management District and the Orient- East Marion Park District had a deficit fund balance at December 31, 2008. The capital projects fund deficit will be eliminated as short-term debt is redeemed or converted to permanent financing. Both the Solid Waste Management District and the Orient-East Marion Park District deficits 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, 2008 C. Detail Notes on all Funds and Account Groups (continued) I. 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 pumhased 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 collatef'al 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 bank.s in the Town's name. At December 31, 2008 the cash in banks was $27,862,764 and collateral held against cash in banks was $38,547,837 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, 2008 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, 2008 is as follows: Primary Government: Land Buildings & Improvements Other Improvements Construction in Progress Infrastructure Machinery & Equipment Total Balance Balance 01/01/2008 Additions Deletions 12/31/2008 $68,929,202 $26,612,576 $95,541,778 8,316,321 513,185 8,829,506 13,624,651 20,357 13,645,008 1,067,738 2,425,545 $ 65,101 3,428,182 71,461,368 1,408,523 72,869,891 10,197,792 945,001 104,504 11,038,289 $173.597,072 :_$31,925,18__7.$ !6~%605 $205.352~654 Component Units: Land Buildings & Improvements Other Improvements Construction in Progress Infrastructure Machinery & Equipment Total Balance Balance 0t/01/2008 Additions Deletions 12/31/2008' $2,193,349 $2,193,349 3,500,910 $ 398,412 3,899,322 17,028,469 351,370 ' 17,379,839 4041459 $ 404,459 0 2,172,078 2,172,078 · 3,504,995 23,683 109706 3,418,972 $28,804,26--0 JL 773.46__~5 $ 514,165 $2_9.,063,560 Interfund Receivables and Payables Interfund receivables and payables for the primary were as follows: Fund General Fund Whole Town General Fund Part Town Special Grant Fund Highway Fund Part Town East-West Fire Protection District Solid Waste Management District Wastewater Disposal District Fishers Island Sewer District Capital Projects Trust & Agency Total Interfund government at December 31, 2008 lnte~fund Interfund Receivables Payables $ 234,489 $ t,181,680 122,581 '524,836 74,366 284,861 668 3O6 15,538 6OO $ _%258,245 534 25,164 46,105 4,762 $1,258,24~5 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 C. Detail Notes on all Funds and Account Groups (continued) 4. Due To/From Primary Government and Component Units Amount Amount Receivable Payable Component Units: Fishers Island Refuse & Garbage District $ 50,464 Fishers Island Ferry District .139,142 Orient Mosquito District 8,836 Cutchogue-New Suffolk Park District 18,302 Southold Park District 39,760 Orient-East Marion Park District 4,491 Mattituck Park District 119,471 Primary Government General Fund Capital Trust and Agency 100,000 $ 356,557 59,239 64,670 Totals $ 480.4=_66 $ _480,466 5. Indebtedness Short-Term Debt Liabilities for bond anticipation notes (BAN's) are generally accounted for in the capital projects funds. The notes or renewal thereof may not extend more than two years beyond the original date of issue unless a portion is redeemed within two years and within each 12 month period thereafter. State law requires that BAN's issued for capital purposes be converted to tong-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 2009 Interest Budget Description Amount Rate Appropriations Bonds Various Purposes $ 799,300 1.90% $ 136,900 $ 662,400 Various Purposes 4,280,000 2.28% 561,000 3,719,000 Various Purposes 299,800 3.00% 40,000 259,800 New London Wharf 1,200,000 2.20% 200,000 1,000,000 Total $ 6,5Z~,100 ¢_ ........ ~;L7,900 L_5_~641,200 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Lon.q-Term Debt a) At December 31, 2008 the total outstanding indebtedness of the Town, excluding the above obligations aggregated $32,175,000. Of this amount, $30,099,900 was subject to the constitutional debt limit and, combined with the short-term debt listed above, represented 4.32% 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 pi'ovision 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 Ior~g-term liabilities. c) Other Long-Term Debt - In addition to the above long-term debt, the local government had the following non-current liabilities: Judgments & Claims Payable - Represents the value of the outstanding liability due the United States Depadment of Justice for an action brought against the Fishers Island Ferry District. · Compensated Absences - Represents the value of earned and unused portion of the liability for compensated absences. d) Summary Long-Term Debt - The following is a summary of long-term liabilities outstanding at December 31, 2008 by fund type and account group: Liability Serial Bonds Judgments & Claims Payable Compensated Absences Total Long-Term Debt Account Group General Discretely Long Term Debt Presented Account Group Component Unit $ 29,720,000 $ 2,455,000 93,102 7,378,323 Total $ 32, 175,000 93,102 7,378,323 $ 37,098.323 $ 2,548.102 $ 39.~6~46.42_____~5 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2008 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Lon.q-Term Debt (continued) e) The following is a summary of changes in the long-term liabilities for the period ended December 31, 2008: Bonds and Judgments and/Claims Compensated Notes Payable Absences Payable at beginning of Year $ 25,020,000 $ 136,418 $ 6,971,397 Additions 8,850,000 406,926 Deletions 1,695,000 43,316 Payable at end of Year $_~ 32,175,000 _$ 93,102 $ 7,378,32~ 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 31,2008: Year Endinq Principal Interest 2009 2,075,000 1,242,518 2010 1,900,000 1,168,315 2011 1,925,000 1,096,262 2012 1,890,000 1,024,225 2013 1,775,000 955,164 2014-2018 8,965,000 3,7461531 2019-2023 6,220,000 2,197,651 2024-2028 5,375,000 985,125 2029-2030 2,050,000 87,125 Totals $3_2_.175.000_ ~$_!2.520.916 6. Retirement System Plan Description The Town participates in the New York Employee's Retirement System, the New York State Policemen's and Firemen's Retirement System and the Public Employee's Group Life Insurance Plan (Systems). These are cost-sharing multiple-employer retirement systems. The Systems provide retirement benefit as well as death and disability benefits. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 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 repod 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. Funding Policy The Systems are noncontributory except for employees who joined the New York State and Local Employees' Retirement System after July 27, 1976 who contribute 3% of their salary. Under the authority of the NYSRSSL, the Comptroller annually certifies the rates expressed as proportions of payroll of members, which shall be used in computing the employers' contributions. The required contributions for the current year and two preceding years were as follows: ERS PFRS 2008 $ 932,918 $ 905,458 2007 $ 980,628 $ 967,286 2006 $1,096,547 $ 741,445 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 SOUTHOLD NoteS To Financial Statements December 31,2008 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 amodize 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 fu~d 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, $4,524,975 was paid on behalf of 98 retirees and 211 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 SOUTHOLD Notes To Financial Statements December 31, 2008 C. Detail Notes on all Funds and Account Groups (continued) 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 Iong-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 Contingencies The Town is self-insured for medical insurance and general liability insurance. The amount of medical claims outstanding at December 31, 2008 is $167,490. The amount of general liability claims outstanding at December 31, 2008 is $1,088. 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 th~ 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 finat 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 SOUTHOLD Notes To Financial Statements December 31, 2008 D. Commitments and Contingencies (continued) 2. Lease Comr~itments 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, 2008 were approximately $197,281. Future obligations over the primary terms of the Town's leases as of December 31, 2008 are as follows: 2009 $ 188,297 2010 133,658 2011 107,881 2012 & thereafter 539,109 Total ~L__.968,945 E. Condensed Financial Statements for the Discretely Presented Component Units The following represents condensed financial statements for the disci'etely presented component units as of and for the year ended December 31, 2008. Condensed Balance Sheet Assets and Other Debits Liabilities Amounts to be Due From Property Provided for Other Bonds.and Current Primary Building & Long-Term Current Long-Term Assets Government Eauir~ment Debt Liabilities Liabilities Fishers Island Ferry District $ 365,686 $ Fishers Island Garbage District 1,145,680 Cutchogue-New Suffolk Park Dist. 177,610 Southold Park District 162,940 Orient-East Marion Park District 9,397 Mattituck Park District 449,279 Orient Mosquilo District 31,156 74,472 $ 22,289,369 $ 2,493,102 $ 356,897 $ 2,493,102 50,464 3,496.769 149,210 18,302 145,705 18,302 39,760 904,264 42,882 4,491 432,985 16,044 60,231 1,763,578 55,000 142,841 55,000 8,836 30,891 22,234 Fishers Island Ferry District Fishers Island Garbage District Cutchogue-New Suffolk Park Dist. Southold Park District Orient-East Marion Park District Mattituck Park District Orient Mosquito District Condensed Statement of Revenues, Expenditures and Changes in Fund Balances Excess (Deficiency) Expenditures of Revenues Capital Debt and Revenues Current Outlay Service Expenditures $ 3,326,289 $ 2,673,704 $ 193,745 $ 596,251 $ (137,411) 1,005,158 453,710 7,011 544,437 149,684 79,837 38,568 31,279 359,625 281,001 44,754 33,870 34,869 33,637 1,232 513,737 361,474 40,884 53,297 58,082 87,717 87,797 (80/ TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2008 F. _Subsequent Events The Town issued Public Improvement Serial Bonds in the amount of $5,283,000 which were dated March 15, 2009. This issue included $5M for Open Space purchases, $166K for Highway Equipment and $117K for Fishers Island Sewer District Improvements. Interest, rates vary from 3% to 4%%, and the final payment is due March 15, 2030. Affidavit of Posting on Town Clerk's Bulletin Board STATE OF NEW YORK) SS COUNTY OF SUFFOLK ELIZABETH A. NEVILLE, Town Clerk of thb Town of Southold, New York being duly sworn says that on the 3rd day of April 2009 she affixed a notice of the annexed printed notice is a true copy, in a proper and substantial manner, in a most public place in the Town of Southold, Suffolk County, to wit: Town Clerk's Bulletin Board~ Southold~ New York~ 53095 Main Road~ Southold~ NY 2008 ANNUAL FINANCIAL REPORT OF THE TOWN OF SOUTHOLD Eliz-al~h A. Neville Sworn to before me this 7 day of~.,ff__200~. Notary Public LINDA J COOPER NOTARY PUBLIC, State of New York NO. 01C04822563, Suffolk County Term Expires December 31, 20 LEGAL NOTICE NOTICE IS HEREBY GIVEN that the Annual Financial Report of the Town of Southold for the Fiscal Year 2008 is on file in the Southold Town Clerk's Office, Southold Town Hall, 53095 Main Road, Southold, New York, and is available for public inspection and copying during regular business days and hours Monday through Friday, 8:00 A.M. to 4:00 P.M. Dated: April 3, 2009 ELIZABETH A. NEVILLE SOUTHOLD TOWN CLERK PLEASE PUBLISH ONCE ON APRIL 9, 2009, AND FORWARD ONE (1) AFFIDAVIT OF PUBLICATION TO ELIZABETH NEVILLE, SOUTHOLD TOWN CLERK, TOWN HALL, PO BOX 1179, SOUTHOLD, NY 11971. Copies to the following: The Suffolk Times Town Board Members Town Attorney Town Comptroller Town Clerk's Bulletin Board #9250 STATE OF NEW YORK) ) SS: COUNTY OF SUFFOLK) Karen Kine of Mattituck, in said county, being duly sworn, says that she is Principal Clerk of THE SUFFOLK TIMES, a weekly newspaper, published at Mattituck, in the Town of Southold, County of Suffolk and State of New York, and that the Notice of which the annexed is a printed copy, has been regularly published in said Newspaper once each week for 1__ week(s), successively, commencing on the 9th dayof April, 2009. Principal Clerk Sworn to before me this I,EGAI~ NOTIC~ NOTICE IS HEREBy GIVEN that 925~1T 4/9 CHRISTINA VOLtNSKI qOTARY PUBLIC-STATE OF NEW YORK No. 01-V06105050 Quaflfled in Suffolk County