HomeMy WebLinkAbout2008 (2)PARK DIST~ICT
MATTITUCK
PARK DISTRICT
P.O. BOX 1413 · MATTITUCK, NEWYORK 11952
March 8, 2010
Jeffery S. Davoli, Partner
Albrecht, Viggiano, Zureck & Company, P.C.
25 Suffolk Court
Hauppauge, NY 11788-3715
Re: 2008 Audit- Management Response to Deficiencies in Internal Control
Dear Mr. Davoli:
This shall serve as a response to your letter dated February 11, 2010 regarding the 2008 audit.
According to your letter, AVZ has identified deficiencies in internal control that are considered to
be significant. As you define it: "A significant deficiency is a control deficiency, or a
combination of control deficiencies, that adversely affects the entity's ability to initiate, authorize,
record, process, or report financial data reliably in accordance with generally accepted
accounting principle such that there is more than a remote likelihood that a misstatement or the
entity's financial statements that is more than inconsequential will not be prevented or detected
by the entity's internal control."
As you are aware, many of the identified deficiencies were corrected in early 2009, prior to the
2008 audit. Others have since been corrected or are in the process of being addressed. The
changes, planned or completed, are set forth below in the management response paragraphs.
We trust the corrective actions outlined here will better serve the Mattituck Park District
residents whose taxes pay for the operation and maintenance of all MPD properties.
DISTRICT POLICIES AND PROCEDURAL MANUAL
Observation made by AVZ:
During the audit we noted that the District does not have Board adopted policies and
procedures in place regarding the District's operation. In addition, the District does not have
any Board adopted policies regarding Distdct property, supplies, the use of tax exempt
certificates, District cell phones and District credit cards, etc.
1 of 6
Recommendation by AVZ:
We recommend the District adopt policies and procedures manual similar to the Town of
Southold, New York to provide guidance to the employees and Commissioners about the
operations of the District and use of District property.
Management Response:
Effective February 2009, prior to this audit, the MPD rescinded the use of gas credit cards for
Commissioners. The Commissioners now log miles used for MPD business and are reimbursed
at the same rate set by Southold Town. Commissioners complete a voucher with information
necessary for reimbursement by the Treasurer. The MPD vehicles have gas cards, which were
amended to require odometer readings and vehicle information to access gasoline at the
participating gas station. Further, vehicles may not leave the Mattituck-Laurel area without
approval from the Chairman of the MPD. At least eight gas credit cards have been deactivated.
MPD reviewed the cell phone bills and has established a reasonable, but conservative, monthly
limit on cell phone usage. There will be a strict adherence to the limits to prevent abuse.
The use of the MPD tax exempt status will be for MPD business only. The Commissioners Fees
line item in the 2008 budget has been eliminated from the 2010 budget.
PROCUREMENTPOLICY
Observation by AVZ:
It was noted during our audit that the District does not have a Board adopted procurement
Policy in accordance with NYS Municipal Law Section 104-b which states"...by resolution, shall
adopt internal policies and procedures governing all procurement of goods and services..."
Recommendation by AVZ:
We recommend the Board adopt a formal pumhasing and procurement policy similar to the
Town of Southold, New York to ensure that the District is utilizing the public's funds in an
appropriate manner by obtaining the lowest pricing for goods and services.
Management Response:
On October 8, 2009 the Mattituck Park District enacted Resolution #2009-31, which established
a Procurement Policy similar to the Town of Southold. The Procurement Policy creates clear
guidelines for every prospective purchase of goods or services, and sets forth the requisite
documentation for all purchases. This policy will ensure that MPD will not be overspending for
services and supplies.
2 of 6
INVESTMENT POLICY
Observation by AVZ:
It was noted during our audit that although the Distdct follows the Investment Policy of the
Town of $outhold, it does not have a Board adopted Investment Policy in accordance with the
NYS Municipal law Section 39 which states, "each local government...shall by resolution adopt
a comprehensive investment policy which details the local government's operative policy and
instructions to officers and staff regarding the investing, monitoring, and reporting of funds of the
local government."
Recommendation by AVZ:
We recommend that the Board adopt a formal investment policy similar to the Town of Southold,
New York to ensure that the District's funds are being invested appropriately to adequately
safeguard principal, to provide sufficient liquidity to meet all operating requirements and to
obtain a reasonable rate of return.
Management Response: On October 8, 2009 the Mattituck Park District enacted Resolution
#2009-32 which established an Investment Policy similar to the Town of Southold.
CASH COLLECTIONS
Observation by AVZ:
During our audit, it was noted that there are no formal policies and procedures in place with
respect to the process of cash collections. We could not locate the records indicating how many
permits were sold, how much cash was collected, or how many people showed up at the lodge.
Also, we could not locate the records regarding the cash collections at the various park
locations including the day's close out sheet signed off by the clerk and then approval by a
manager or other authoritative personnel, if such a record existed. The records we did receive
were not appropriate to allow us to determine the cash received for a particular period.
In addition the records we received did not include a reconciliation of missing permits, money
recorded with a designation of pass or guest pass, or no charge passes. The clerk also did not
maintain a daily tally sheet indicating the number of permits in total that reconciled to the
number or permits distributed or sold by date or amount collected with appropriate personnel
sign off. There was no reconciliation of the number of permits distributed to beach attendants or
any reconciliation at the end of the season indicating permits unsold and returned to the clerk.
Recommendation by AVZ: We recommend that he Distdct implement a Board adopted policy
detailing the procedures for the cash collection process including approvals over daily cash
collections. We also recommend that an employee of the District take a head count at the lodge
the day of the event before giving the organization the key or receive payment in advance for
the lodge rental. This will ensure that the District collects the proper amount of revenue.
3 of 6
Management Response: Prior to the 2009 summer season, MPD enacted a cash
management procedure detailing the process for cash collections, deposits, and record keeping.
Much of the procedure follows the Town of $outhold's policy. The clerk maintains a Tally Sheet,
which includes permit numbers sold, amount collected, date, attendant's name, and date
deposited. Both the attendants and clerk sign off on the Tally Sheets. The attendants also
maintain a daily record of beach and guest passes sold. Cash receipt are deposited in the bank
and reconciled by both the clerk and Treasurer. The clerk maintains a Permit Distribution list,
which includes the permit numbers, date, and name of attendant to whom permits are given. We
also require reconciliations of permits distributed, unsold permits, keys for boat ramp, both sold
and unsold, during, and at the end of the season. The Clerk also provides the Commissioners
with a monthly activity report detailing receipts and the dates deposited from beach permits,
ramp permits, lodge permits and dumpster fees.
Inspections are made at the lodge by the clerk to ensure the number of guests is accurate. We
also require a rester of names of guests to identify those in attendance, and for emergency
purposes.
After evaluating the effectiveness of the new procedure, the MPD will formalize the procedure
by adopting a policy.
UNSECURED CASH RECEIPTS
Observation by AVZ:
Dudng our audit it was noted that the District does not lock cash receipts collected from the
day's activities. It was noted that the clerk who collects the cash for the day brings it to her
home where it is kept until I can be deposited. It was also noted that cash was being deposited
only one or two times a week.
Recommendation by AVZ:
We recommend that the District implements a Board adopted policy which indicates that monies
received should be secured in a locked safe or a lockbox with limited access to certain
individuals where the cash will remain overnight until it is able to be deposited. We also
recommend depositing the funds on a regular basis in order to alleviate the possibility for
misplacement or theft.
Management Response:
We have procured a secure, locked location for daily cash receipts collected at the District
Office to be accessed only by the clerk. The clerk, under no circumstances, will take money
home. We have also obtained a night drop at the local bank to deposit cash as needed.
4 of 6
RECORDS RETEN~ON
Observation by AVZ:
During our audit we noted that the District could not locate the log books for the lodge, ramp
passes, and dumpster fees. We also noted that personnel records were not maintained in a
secure location.
Recommendation by AVZ:
We recommend that the District implement a Board adopted record retention policy and
maintain all records at the District office for all records including those that support revenue
collected. In addition, the record retention policy should include guidelines for the recordkeeping
of all pre-numbered permits and indicate a place where these records would be secured and
maintained.
Management Response:
At present we are securing the facility with new locks and will secure personal records in a
Iockable cabinet where they can be stored. We will adopt a formal records retention policy with
guidelines for record keeping of permits, guest permits, and ramp keys, indicating where these
records will be kept and maintained.
PAYROLL
Observation by AVZ:
During our audit it was noted that there was not a Board adopted policy for hours worked for
District employees, nor was there evidence of management approval on time sheets for several
District employees.
Recommendation by AVZ:
We recommend the District implement a Board adopted policy where employees sign in or out
to ensure that the number of hours worked is appropriate. We also recommend that all hours
worked including overtime be reviewed and approved by the Commissioners to ensure the time
is appropriate for type of work the employee is performing.
Management Response:
The MPD has implemented a number of changes to address AVZ's recommendations. These
changes will be incorporated into an employee manual. Among other things, the Chairperson
now reviews and signs all time cards. Employees who work in the field are now required to fill-
out a daily log or plan describing their daily work activities and the time it takes to complete the
job. The full-time laborer also meets with the Commissioners monthly to discuss productivity
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and future assignments. All overtime hours must now be preapproved by the Chairperson of
the Board of Commissioners. We are in the process of creating a sign-in procedure as
recommended.
SEGREGATION OF DUTIES
Observation by AVZ:
Dudng our audit it was noted that due to the small size of the District's staff there was a lack of
segregation of duties over certain controls. The basic premise of this internal control is that no
one employee should have access to both physical assets and related accounting records or to
all phases of a transaction. During the course of the audit, we noted that the Treasurer records
the cash receipts and disbursements, prepares bank reconciliations, and makes journal entdes
to the accounting records. Although this issue exists, we believe that there are enough
mitigating factors over this limitation to ensure that the internal control system is not being
manipulated. The main mitigating factor is that the Board of Commissioners approves and
signs off on the payment of all invoices before they are paid and that the Treasurer provides
regular reports on the books and other financial records of the District for monthly
Commissioner review and approval.
Management Response:
Although AVZ did not include any recommendations regarding segregation of duties, MPD has
instituted monthly work sessions for the Commissioners to review bills and make decisions
regarding payment. In the past, the Board did not meet in advance of the regular meeting
resulting in instances where bills were approved without careful review. Since AVZ noted the
importance of Commissioners approval of all bills to ensure the internal control system is not
manipulated, the work sessions provide the needed time to properly review all invoices.
It should also be noted that by legislative design, the Treasurer for the MPD sends financial
information to the Town of Southold. The Comptroller for the Town of Southold and the
Treasurer for the MPD is one in the same person.
We also notified our regular employees that invoices submitted as "Miscellaneous" will no longer
be paid.
Sincerely,
Doris McGreevy, Chairperson
Board of Commissioners
Nicholas Deegan,
Commissioner
CC:
Eileen Powers, Attorney at Law
John Cushman, Treasurer
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CERTIFIED PUBLIC ACCOUNTANTS
February 20, 2010
Board of Commissioners
Mattituck Park District
Mattituck, New York
Dear Commissioners:
In planning and performing our audit of the financial statements of Mattituck Park District as of and for
the year ended December 31, 2008, in accordance with auditing standards generally accepted in the
United States of America, we considered the District's internal control over financial reporting (internal
control) as a basis for designing our auditing procedures for the purpose of expressing our opinion on
the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the
District's internal control. Accordingly, we do not express an opinion on the effectiveness of the
District's internal control.
A material weakness is a significant deficiency, or a combination of significant deficiencies, that
results in more than a remote likelihood that a material misstatement of the financial statements will
not be prevented or detected by the entity's internal control.
Our consideration of internal control was for the limited purpose described in the first paragraph and
would not necessarily identify all deficiencies in internal control that might be significant deficiencies or
material weaknesses. We did not identify any deficiencies in internal control that we consider to be
material weaknesses, as defined above. However, we identified in the attached schedule deficiencies
in internal control that we consider to be significant deficiencies.
A control deficiency exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A significant deficiency is a control deficiency, or a combination of
control deficiencies, that adversely affects the entity's ability to initiate, authorize, record, process, or
report financial data reliably in accordance with generally accepted accounting principles such that
there is more than a remote likelihood that a misstatement of the entity's financial statements that is
more than inconsequential will not be prevented or detected by the entity's internal control. We
consider the following deficiencies to be significant deficiencies in internal control.
PERSONAL SERVICE. TRUSTED ADVICE.
ALBRECHT, VIGGIANO, ZURECK & COMPANY, P.C.
245 PARK AVENUE, 24TH FLOOR 25 SUFFOLK COURT
NEWYORK, NY 10167 HAUPPAUGE, NY11788-3715
T: 212.792,4075 T: 631.434.9500 F: 631.434.9S18
www.avz.com
Board of Commissioners
Mattituck Park District
February 20, 2010
AVZ 2008 Audit
Page 2
DISTRICT POLICIES AND PROCEDURES MANUAL
Observation
During our audit we noted that the District does not have Board adopted policies and procedures in
place regarding the District's operations. In addition, the District does not have any Board adopted
policies regarding District property, supplies, the use of tax exempt certificates, District cell phones
and District credit cards, etc.
Recommendation
We recommend the District adopt a policies and procedures manual similar to the Town of Southold,
New York to provide guidance to the employees and Commissioners about the operations of the
District and use of District property.
PROCUREMENT POLICY
Observation
It was noted during our audit that the District does not have a Board adopted Procurement Policy in
accordance with NYS Municipal Law Section 104-b which states "...by resolution, shall adopt internal
policies and procedures governing all procurements of goods and services..."
Recommendation
We recommend that the Board adopt a formal purchasing and procurement policy similar to the Town
of Southold, New York to ensure that the District is utilizing the public's funds in an appropriate
manner by obtaining the lowest pricing for goods and services.
INVESTMENT POLICY
Observation
It was noted during our audit that although the District follows the Investment Policy of the Town of
Southold, it does not have a Board adopted investment Policy in accordance with NYS Municipal Law
Section 39 which states "each local government...shall by resolution adopt a comprehensive
investment policy which details the local government's operative policy and instructions to officers and
staff regarding the investing, monitoring, and reporting of funds of the local government."
Recommendation
We recommend that the Board adopt a formal investment policy similar to the Town of Southold, New
York to ensure that the District's funds are being invested appropriately to adequately safeguard
principal, to provide sufficient liquidity to meet all operating requirements and to obtain a reasonable
rate of return.
Board of Commissioners
Mattituck Park District
Febreuary 20, 2010
AVZ 2008 Audit
Page 3
CASH COLLECTIONS
Observation
During our audit, it was noted that there are no formal policies and procedures in place with respect to
the process of cash collections. We could not locate the records indicating how many permits were
sold, how much cash was collected, or how many people showed up at the lodge. Also, we could not
locate the records regarding the cash collections at the various park locations including the day's
close out sheet signed off by the clerk and then approval by a manager or other authoritative
personnel, if such a record existed. The records we did receive were not appropriate to allow us to
determine the cash received for a particular period. In addition the records we received did not include
a reconciliation of missing permits, money recorded with a designation of pass or guest pass, or no
charge passes.
The clerk also did not maintain a daily tally sheet indicating the number of permits in total that
reconciled to the number or permits distributed or sold by date or amount collected with appropriate
personnel sign off. There was no reconciliation of the number of permits distributed to beach
attendants or a reconciliation at the end of the season indicating permits unsold and returned to the
clerk.
Recommendation
We recommend that the District implement a Board adopted policy detailing the procedures for the
cash collection process including approvals over daily cash collections. We also recommend that an
employee of the District take a head count at the lodge the day of the event before giving the
organization the key or receive payment in advance for the lodge rental. This will ensure that the
District collects the proper amount of revenue.
UNSECURED CASH RECEIPTS
Observation
During our audit it was noted that the District does not lock cash receipts collected from the day's
activities. It was noted that the employee who collects the cash for the day brings it to their home
where it is kept until it can be deposited. It was also noted that cash was being deposited only one or
two times a week.
Recommendation
We recommend that the District implements a Board adopted policy which indicates that monies
received should be secured in a locked safe or a lockbox with limited access to certain individuals
where the cash will remain overnight until it is able to be deposited. We also recommend depositing
the funds on a regular basis in order to alleviate the possibility for misplacement or theft.
Board of Commissioners
Mattituck Park District
February 20, 2010
AVZ 2008 Audit
Page 4
RECORDS RETENTION
Observation
During our audit it was noted that the District could not locate the log books for the lodge, ramp
passes, and dumpster fees. We also noted that the records were not maintained in a secure location.
Recommendation
We recommend that the District implement a Board adopted record retention policy and maintain all
records at the District office for all records including those that support revenue collected. In addition,
the record retention policy should include guidelines for the recordkeeping of all pre-numbered permits
and indicate a place where these records would be secured and maintained.
PAYROLL
Observation
During our audit it was noted that there was not a Board adopted policy for hours worked for District
employees, nor was there evidence of management approval on time sheets for several District
employees.
Recommendation
We recommend the District implements a Board adopted policy where employees sign in or out to
ensure that the number of hours worked is appropriate, We also recommend that all hours worked
including overtime be reviewed and approved by the Commissioners to ensure the time is appropriate
for type of work the employee is performing.
SEGREGATIONS OF DUTIES
Observation
During our audit it was noted that due to the small size of the District's staff there was a lack of
segregation of duties over certain controls. The basic premise of this internal control is that no one
employee should have access to both physical assets and related accounting records or to all phases
of a transaction. During the course of the audit, we noted that the Treasurer records the cash receipts
and disbursements, prepares bank reconciliations, and makes journal entries to the accounting
records. Although this issue exists, we believe that there are enough mitigating factors over this
limitation to ensure that the internal control system is not being manipulated. The main mitigating
factor is that the Board of Commissioners approves and signs off on the payment of all invoices
before they are paid and that the Treasurer provides regular reports on the books and other financial
records of the District for monthly Commissioner review and approval.
Very truly yours,
Albrecht, Viggiano, Zureck & Company, P.C.
MATI'ITUCK PARK DISTRICT
ANNUAL REPORT
December 31, 2008
TABLE OF CONTENTS
Page
Independent Auditom' Report .................................................................................................... 1
REQUIRED SUPPLEMENTARY INFORMATION
Management's Discussion and Analysis ................................................................................... 2-5
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements
Statement of Net Assets ................................................................................................... 6
Statement of Activities ...................................................................................................... 7
Fund Financial Statements
Balance Sheet and Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Assets ......................................................................................... 8
Statement of Revenues, Expenditures and Changes in Fund Balance
and Reconciliation of the Government Funds Statement
of Revenues, Expenditures, and Changes in Fund Balance to the
Statement of Activities ...................................................................................................... 9
Notes to Financial Statements ................................................................................................... 10-16
REQUIRED SUPPLEMENTARY INFORMATION OTHER THAN
MANAGEMENT'S DISCUSSION AND ANALYSIS
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual - General Fund ............................................................................................ 17
SUPPLEMENTARY INFORMATION
General Fund:
Detailed Schedule of Revenues - Budget and Actual ....................................................... 18
Detailed Schedule of Expenditures - Budget and Actual .................................................. 19
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CERTIFIED PUBLIC ACCOUNTANTS
INDEPENDENTAUDITOR$'REPORT
Board of Commissioners
Mattituck Park District
Mattituck, New York
We have audited the accompanying financial statements of the governmental activities and each major
fund of the Mattituck Park District, a component unit of the Town of Southold, New York as of and for the
year ended December 31, 2008, which collectively compdse the Mattituck Park District's basic financial
statements as listed in the table of contents. These basic financial statements are the responsibility of the
Mattituck Park District's management. Our responsibility is to express an opinion on these basic financial
statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
Amedca. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the basic financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall basic financial statement presentation. We believe that
our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the governmental activities and each major fund of the Mattituck Park Distdct as of
December 31, 2008, and the results of its operations and changes in the financial position for the year
then ended, in conformity with accounting principles generally accepted in the United States of Amedca.
The Management's Discussion and Analysis and budgetary comparison information are not a required
part of the basic financial statements but are supplementary information required by accounting principles
generally accepted in the United States of America. We have applied certain limited procedures, which
consisted principally of inquiries of management regarding the methods of measurement and
presentation of the supplementary information. However, we did not audit the information and express
no opinion on it.
Hauppauge, New York
February 20, 2010
PERSONAL SERVICE. TRUSTED ADVICE.
ALBRECHT, VIGGIANO, ZURECK & COMPANY,
245 PARK AVENUE, 24TH FLOOR 25 SUFFOLK COURT
NEW YORK, NY 10167 HAUPPAUGE, NY11788-3715
T: 212.792.4075 T: 631.4349500 F: 631.434.9518
www. avz C01~3
REQUIRED SUPPLEMENTARY INFORMATION
MANAGEMENT'S DISCUSSION AND ANALYSIS
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MATTITUCK PARK DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
Year ended December 31, 2008
Our discussion and analysis of the financial performance of the Mattituck Park District, a component
unit of the Town of Southold, New York (the "District"), provides an overview of the District's financial
activities for the year ended December 31, 2008. Please read it in conjunction with the District's
financial statements and notes to financial statements.
USING THIS ANNUAL REPORT
This annual report consists of two sets of financial statements.
Government-Wide Financial Statements
The Statement of Net Assets and the Statement of Activities - Government-Wide provide information
about the activities of the District as a whole and present a longer-term view of the District's finances.
One of the most important questions asked about the District's finances is, "Is the District as a whole
better off or worse off as a result of the year's activities?" The Statement of Net Assets and the
Statement of Activities report information about the District as a whole and about its activities in a way
that helps answer this question. These statements include all assets and liabilities using the accrual
basis of accounting, which is similar to the accounting used by most private-sector companies. All of
the current year's revenues and expenses are taken into account regardless of when cash is received
or paid.
Govemment Fund Financial Statements
The Balance Sheet and Statement of Revenues, Expenditures and Changes in Fund Balance -
Govemment Funds tell how services were financed in the short-term as well as what remains for
future spending. Government fund financial statements also report the District's operations in more
detail than the government-wide statements by providing information about the District's general fund.
The District's basic services are reported in funds, which focus on how money flows into and out of
those funds and the balances left at year-end that are available for spending. These funds are
reported using an accounting method called modified accrual accounting, which measures cash and
all other financial assets that can readily be converted to cash. The government fund statements
provide a detailed short-term view of the District's general government operations and the basic
services it provides. Government fund information helps you determine whether there are more or
fewer financial resources that can be spent in the near future to finance the District's programs. We
describe the relationship (or differences) between governmental activities (reported in the Statement
of Net Assets and the Statement of Activities) and governmental funds in reconciliation at the bottom
of the fund financial statements.
A comparative analysis will be available in subsequent years when information is available.
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MATTITUCK PARK DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
Year ended December 31, 2008
CONDENSED FINANCIAL INFORMATION
The Mattituck Park District maintains ten parks which include beaches, picnic areas, ball fields, a
scouter's lodge and passive parks.
Our analysis below focuses on the net assets and changes in net assets as set forth in the following
condensed financial statement:
2008
Assets
Current and other assets $ 490,041
Capital assets 1,510,197
2,000,238
Liabilities
Current liabilities 414,673
Net Assets
Invested in capital assets,
net of related debt
Unrestricted
Change in Net Assets
Program Revenues
Charges for services
General Revenues
Real Property Taxes
Other general revenue
Total Revenues
Expenses - Culture and recreation services
Change in Net Assets
Net Assets - Beginning of the Year
Net Assets - End of the Year
414,673
1,255,397
330,168
$ 1.585.565
$ 19,066
481,229
113,442
613,737
378,035
235,702
1,349,863
$ 1.585.565
MATTITUCK PARK DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
Year ended December 31, 2008
FINANCIAL HIGHLIGHTS
The net assets increased approximately $236,000. This was due to the excess of revenues over
expenses.
The general fund reported an excess of revenues over expenditures this year of approximately
$58,000, increasing its fund balance from approximately $248,000 to approximately $306,000.
GENERAL FUND BUDGETARY HIGHLIGHTS
The District reported budget and actual in the general fund as follows (in 000's):
Original Final Actual
Bud,qet Bud,qet Amounts Variance
Revenues $ 515 $ 510 $ 514 $ 4
Expenditures and other
financing uses 565 560 456 104
$ (50~ $ ~50~ $ 58 $ 108
The District budgeted total expenditures and other uses in excess of revenues and other sources of
approximately $50,000 by appropriating its unreserved fund balance of the prior year. Total revenues
in excess of estimated revenues is due primarily to conservative budgeting for beach permits and
other income. Total expenditures and other uses were less than budgeted which is primarily due to
actual costs for site improvements, insurance and site maintenance not being as costly as originally
anticipated.
CAPITAL ASSETS AND LONG-TERM DEBT
The District has been financing most of its capital expenditures from proceeds of general obligation
bonds, bond anticipation notes and annual budgetary appropriations. During 2008, the District made
purchases of capital assets totaling $348,000, which was paid for with bond anticipation notes,
transfers from the general fund, grant from the Town of Southold, and budgetary apprepdations.
At year end, the District had outstanding $55,000 of general obligation serial bonds which will be paid
in full during 2009.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET
The District dedves substantially all of its operating revenues from real property taxes. Other revenues
include revenues from beach passes, boat ramp passes, lodge rentals and dumpster rentals.
The Mattituck Park District is committed to the long-term maintenance of the various park and
recreation locations within District boundaries and plans for capital expenditures on a regular basis.
-5-
MATTITUCK PARK DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
Year ended December 31, 2008
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET (continued)
The District maintains capital budget to plan for these expenditures as follows:
2009 $ 59,000
The District is planning to replace a groin at Veteran's Park and considering a project to enlarge the
septic system at Veteran's Park. This project was budgeted and will be funded through the general
fund using current appropriations.
NEW ACCOUNTING PRONOUNCEMENTS
Effective with this financial report for the year ended December 31, 2008, the District was required to
adopt Govemmental Accounting Standards Board Statement No. 45, Accounting and Financial Reporting
by Employers for Post-employment Benefits Other than Pensions (OPEB). This statement establishes
standards for reporting the liability for non-pension post-employment benefits, primarily the health care
premiums for retirees. The Distdct does not offer post employment benefits therefore this standard does
not apply to the District.
CONTACTING THE DISTRICT'S FINANCIAL MANAGEMENT
This financial report is designed to provide our taxpayers, customers and creditors with a general
overview of the District's finances and to show the District's accountability for the money it receives. If
you have questions about this report or need additional financial information, contact the District's
Treasurer at Mattituck Park District, PO Box 1413 Mattituck, NY 11952.
BASIC FINANCIAL STATEMENTS
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MATTITUCK PARK DISTRICT
GOVERNMENT-WIDE FINANCIAL STATEMENTS
STATEMENT OF NET ASSETS
December 31,2008
ASSETS
Current assets:
Cash and investments
Due from Town of Southold
Noncurrent assets:
Non-depreciable capital assets
Depreciable capital assets, net of depreciation
LIABILITIES
Current liabilities:
Accounts payable and accrued expenses
Accrued interest
Uneamed revenue
Bond anticipation note payable
Serial bonds payable - current portion
NET ASSETS
Investment in capital assets, net of related debt
Unrestricted
Total Assets
Total Liabilities
Total Net Assets
329,809
160,232
490,041
511,340
998,857
1,510,197
2,000,238
25,071
1,840
132,962
199,800
55,000
414,673
1,255,397
330,168
$ 1,585,565
See notes to financial statements.
-7-
MATTITUCK PARK DISTRICT
GOVERNMENT-WIDE FINANCIAL STATEMENTS
STATEMENT OF ACTIVITIES
Year ended December 31, 2008
Governmental Activities
Expenses - Culture and recreation services
Program revenues - Charges for services
General Revenues
Real property taxes
Use of money and property
Fines and forfeitures
Miscellaneous local sources
Change in Net Assets
Net Assets - Beginning of the Year
Net Assets - End of the Year
Net Program Expense
Total General Revenues
378,035
19,066
(358,969)
481,229
11,892
75O
100,800
594,671
235,702
1,349,863
$ 1,585,565
See notes to financial statements.
-8-
MATTITUCK PARK DISTRICT
BALANCE SHEET
GOVERNMENTALFUNDS
December31,2008
Assets
Cash and investments
Due from other fund
Due from Town of Southold
Total Assets
Liabilities
Accounts payable and accrued liabilities
Deferred revenue
Due to other fund
Bond anticipation notes payable
Total Liabilities
MAJOR FUNDS
Capi~l
General Proje~s To~l
$ 329,809 $ 329,809
59,239 59,239
60,232 $ 100,000 160,232
$ 449,280 $ 100,000 $ 549,280
$ 9,880 $ 15,191 $ 25,071
132,962 132,962
59,239 59,239
199,800 199,800
142,842 274,230 417,072
Fund Balance (Deficit)
Unreserved:
Designated - Ensuing year's budget 100,000
Undesignated 206,438
Total Fund Balance (Deficit) 306,438
Total Liabilities and Fund Balance (Deficit) $ 449,280
100,000
(174,230) 32,208
(174,230) 132,208
$ 100,000 $ 549,280
Reconciliation of the Governmental Fund Balance Sheet to the
Statement of Net Assets
Total Governmental Fund Balances
Amounts reported for governmental activities in
the statement of net assets are different because:
Capital assets used in govemmental activities are not financial
resources and therefore are not reported in the funds:
Long-term liabilities are not due and payable in the
current period and therefore ara not reported in the funds:
Serial bonds payable
Accrued interest payable
Net Assets of Governmental Activities
$ 132,208
1,510,197
(55,OOO)
(1,840)
$ 1,585,565
See notes to financial statements.
-9-
MATFITUCK PARK DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND CHANGESIN FUND BALANCE
GOVERNMENTFUNDS
Yearended December31,2008
Revenues
Real property taxes
Departmental income
Use of money and property
Fines and forfeitures
Miscellaneous local sources
Total Revenues
Capital
General Projects Total
$ 481,229 $ 481,229
19,066 19,066
11,892 11,892
750 750
800 $ 100~000 100,800
513,737 100,000 613,737
Expenditures
Culture and recreation 343,268 343,268
Employee benefits 25,816 25,816
Capital Outlay 313,230 313,230
Debt service
Principal 50,000 50,000
Interest 3,297 3,297
Total Expenditures 422,381 313,230 735,611
Excess (Deficiency) of Revenues over Expenditures 91,356 (213,230) (121,874)
Other Financing Sources and (Uses)
Transfers In 33,274 33,274
Transfers Out (33,274) (33,274)
Total Other Financing Sources (Uses) (33,274) 33,274 -0-
Net Change in Fund Balance 58,082
Fund Balance
Beginning of Year 248,356 5,726 254,082
(179,956) (121,874)
End of Year $ 306,438 $ (174,230) $ 132,208
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures
and Changes in Fund Balances to the Statement of Activities
Net Changes in Fund Balances - Total Governmental Funds $ (121,874)
Amounts reported for governmental activities in
the statement of activities are different because:
Governmental funds report capital outlays as expenditures while
in the statement of activities, the cost of those assets is allocated
over their estimated useful lives as depreciation expense:
Capital asset purchases capitalized 347,880
Depreciation expense (39,288)
Repayment of bond principal is an expenditure in the governmental
funds, but the repayment reduces long-term liabilities in the 50,000
statement of net assets:
In the statement of activities, interest is accrued on outstanding
bonds, whereas in governmental funds, an interest expenditure
is reported when due: (1,016)
Change in Net Assets of Governmental Activities $ 235,702
See notes to financial statements.
-10-
MATTITUCK PARK DISTRICT
NOTES TO FINANCIAL STATEMENTS
Year ended December 31, 2008
A. Summary of Significant Accounting Policies
The Mattituck Park District (the "District"), which was established in 1941, is governed by Town Law
and other general laws of the State of New York. The Board of Commissioners is the legislative body
responsible for overall operations. The Board of Commissioners consists of three members, all of
whom are elected by the residents of the Distdct for terms of three years. The pdmary function of the
District is to provide park and recreational facilities to District residents.
The financial statements of the Distdct have been prepared in conformity with accounting principles
generally accepted in the United States of Amedca (GAAP) as applied to governmental units. The
Governmental Accounting Standards Board (GASB) is the accepted standard setting body for
establishing governmental accounting and financial reporting principles.
The District's more signiticant accounting policies are described below.
1. Financial Reporting
The Town of Southold, New York is financially accountable as a result of fiscal dependency for
the Mattituck Park District. Long-term debt of the District, which is backed by the full faith and
credit of the Town, and other fiscal matters results in fiscal interdependency with the Town.
Accordingly, the Mattituck Park District has been determined to be a component unit of the
Town of Southold, New York.
2. Basis of Presentation
The District's basic financial statements include both government-wide (reporting the District
as a whole) and fund financial statements (reporting the District's major funds).
Government-wide Financial Statements
The government-wide financial statements report information on the District as a whole.
In the government-wide Statement of Net Assets, the District's governmental activities are
presented on a consolidated basis and are reported on a full accrual, economic resource
basis, which recognizes all long-term assets and receivables as well as long-term debt and
obligations. The District's net assets are reported in three parts--invested in capital assets, net
of related debt; restricted net assets; and unrestricted net assets.
The government-wide Statement of Activities reports both the gross and net cost of the
District's functions. Gross expenses (including depreciation expense) are reduced by related
program revenues to produce the net cost of the program. Program revenues include charges
for services, contributions and may also include operating and capital grants that are directly
associated with the program. The net cost is normally covered by general revenues (property,
use and money, sale of property and compensation for loss, etc.). This government-wide focus
is more on the sustainability of the District as an entity and the change in the District's net
assets resulting from the current year's activities.
-11-
MATTITUCK PARK DISTRICT
NOTES TO FINANCIAL STATEMENTS
Year ended December 31, 2008
A. Summary of Significant Accounting Policies (continued)
2. Basis of Presentation (continued)
Fund Financial Statements
The fund financial statements are similar to the financial statements presented in the previous
model. The emphasis is on the major funds in the fund financial statements. The District
considers all funds major funds.
The accounts of the District are on:janized on the basis of funds, each of which is considered a
separate accounting entity. The operations of each fund are accounted for with a separate set of
self-balancing accounts that compdse its assets, liabilities, fund balances, revenues, and
expenditures, which are segregated for the purpose of carrying on specific activities er attaining
certain objectives in accordance with special regulations, restrictions or limitations. The various
funds are presented by type in the fund financial statements. Accordingly, the District maintains
the following funds:
Governmental Funds - Governmental funds ara those through which most govemmental
functions are financed. The acquisition, use, and balances of expendable financial resources and
the related liabilities are accounted for through governmental funds. The measurement focus of
the govemmental funds is upon determination of financial position and changes in financial
position. Govemment funds are further classified as major funds.
The District reports the following major governmental funds:
General Fund - is the principal operating fund of the District. This fund is used to account for all
financial resources except those required to be accounted for in other funds.
Capital Proiects Fund - is used to account for financial resources to be used for the acquisition or
construction of major capital facilities.
3. Measurement Focus/Basis of Accounting
Measurement focus refers to what is being measured; basis of accounting refers to when
revenues and expenditures are recognized in the accounts and reported in the financial
statements. Basis of accounting relates to the timing of the measurement made, regardless of
the measurement focus applied.
In the government-wide Statement of Net Assets and the Statement of Activities, governmental
activities are presented using the economic resources measurement focus and are presented
using the accrual basis of accounting. Under the accrual basis of accounting, revenues are
recognized when earned and expenses are recorded when the liability is incurred or economic
asset used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange
and exchange-like transactions are recognized when the exchange takes place.
In the Funds Statement - the govemmental activities use a current financial resources
measurement focus and are accounted for using the modified accrual basis of accounting. Under
this basis of accounting, revenues are recorded when measurable and available.
-12-
MATTITUCK PARK DISTRICT
NOTES TO FINANCIAL STATEMENTS
Year ended December 31, 2008
A. Summary of Significant Accounting Policies (continued)
3. Measurement Focus/Basis of Accounting (continued)
Available means collectible within the current period or soon enough thereafter to be used to pay
liabilities of the current pedod.
Expenditures are recorded when incurred except that:
Expenditures for prepaid expenses are recognized at the time of purchase.
b. Principal and interest on indebtedness are not recognized as an expenditure until due.
c. Compensated absences, such as vacation and sick leave, which vests or accumulates, are
charged as an expenditure when paid.
4. Property Taxes
Property taxes are collected by the Town of Southold Receiver of Taxes on behalf of the
District. The Town of Southold Receiver of Taxes collects all real property taxes for the Town,
Suffolk County, Town Special Districts and School Districts. Town and County taxes are levied
on December 1, and are due in two installments payable by January 10 and May 31. The
Town remits 100% of the amount of real property tax levied to the District. Responsibility for
collection of unpaid taxes is assumed by Suffolk County.
5. Budgetary Data
Budget Policies - The budget policies are as follows:
The Commissioners prepare an annual budget for the general fund, which is submitted to District
voters for approval by referendum. Upon approval by the voters, the budget is submitted to the
Town of Southold for inclusion in the Town Budget. The annual budget lapses at year-end and
any revisions are adopted by resolution of the Board of Commissioners.
Budget Basis of Accounting
The budget is adopted annually on a basis consistent with accounting principles generally
accepted in the United States of Amedca. Appropriations authorized for the current year are
increased by the amount of encumbrances (if any) carried forward from the prior year.
6. Property, Plant and Equipment
In the government-wide financial statements, fixed assets are accounted for as capital assets.
All fixed assets are valued at historical cost or estimated historical cost if actual is unavailable,
except for donated fixed assets, which are recorded at their estimated fair value at the date of
donation. Fixed assets purchased or acquired with an original cost of $5,000 or more are
capitalized and included as capital assets in the government-wide financial statements.
-13-
MATTITUCK PARK DISTRICT
NOTES TO FINANCIAL STATEMENTS
Year ended December 31, 2008
A. Summary of Significant Accounting Policies (continued)
6. Property, Plant and Equipment (continued)
Depreciation of all exhaustible fixed assets is recorded as an expense in the Statement of
Activities, with accumulated depreciation reflected in the Statement of Net Assets.
Depreciation is provided over the assets' estimated useful lives using the straight-tine method
of depreciation. The range of estimated useful lives by type of asset is as follows:
Buildings
Improvements and other
Machinery and equipment
Infrastructure
20-40 years
20 years
5-10 years
20-30 years
In the fund financial statements, fixed assets are accounted for as capital outlay expenditures
of the governmental fund upon acquisition.
7. Deferred Revenue/Unearned Revenue
Deferred revenues/unearned revenues are those where asset recognition cdteda 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. The deferred revenue/uneamed revenue
at December 31, 2008 represent 2009 property taxes collected in advance. Accordingly, the
amount has been recorded as deferred revenue in the funds statement and unearned revenue in
the government-wide statements.
8. Long-Term Debt
All long-term debt is reported as liabilities in the government-wide statements. Long-term debt
generally consists of general obligation bonds.
Long-term debt for govemmental funds is not reported as liabilities in the fund financial
statements. The debt proceeds are reported as other financing sources and payment of debt is
accounted for as expenditures in the general fund.
9. Insurance
The Distdct purchases insurance against 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 not covered by insurance has been
incurred and the amount of loss can be reasonably estimated.
t0. Fund Equity
Reserves and Designations
Portions of fund equity may be at times segregated for future use, and therefore would not be
available for appropriations or expenditure. Designation of unreserved fund balances in the
governmental funds indicates the utilization of these resources in the ensuing year's budget or
tentative plans for future use.
-14-
MATTITUCK PARK DISTRICT
NOTES TO FINANCIAL STATEMENTS
Year ended December 31, 2008
A. Summary of Significant Accounting Policies (continued)
11. Equity Classifications
In government-wide Statements equity is classified as net assets and displayed in three
components:
Invested in capital assets, net of related debt~onsists of capital assets including
restricted capital assets, net of accumulated depreciation and reduced by the
outstanding balances of any bonds, notes, or other borrowings that are attributable to
the acquisition, construction, or improvement of those assets.
Restricted net assets--Consists of net assets with constraints placed on the use
either by (1) external groups such as creditors, grantors, contributors, or laws or
regulations of other governments; or (2) law through constitutional provisions or
enabling legislation.
c. Unrestricted net assets--All other net assets that do not meet the definition of
"restricted" or "invested in capital assets, net of related debt."
In the Fund Statements, governmental fund equity is classified as fund balance. Fund
balance is further classified as reserved and unreserved, with unreserved further split
between designated and undesignated.
B. Fund Deficits
The capital projects fund had an undesignated 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.
C. Cash and Investments
The District's investment policies are govemed by state statutes. District monies must be deposited
in FDIC-insured commercial banks or trust companies located within the state. The Treasurer is
authorized to use demand accounts, money market accounts and certificates of deposit. Permissible
investments include obligations of the U.S. Treasury and U.S. agencies, repurchase agreements, and
obligations of New York State or its localities.
Custodial Credit Risk - Deposits/Investments - Custodial credit risk for deposits exists when, in
the event of the failure of a depository financial institution, a government may be unable to recover
deposits or recover collateral securities that are in possession of an outside agency. Custodial
credit dsk for investments exist when, in the event of the failure of the counterparty, a government
will not be able to recover the value of its investments or collateral securities that are in
possession of an outside party.
Governmental Accounting Standards Board Statement No. 40 directs that deposits be disclosed
as exposed to custodial credit risk if they are not covered by depository insurance, and the
deposits are either:
· Uncollateralized.
· Collateralized with securities held by the pledging financial institution, or
· Collateralized with securities held by the pledging financial institution's trust department or
agent but not in the District's name
-15-
MATTITUCK PARK DISTRICT
NOTES TO FINANCIAL STATEMENTS
Year ended December 31, 2008
C. Cash and Investments (continued)
At December 31, 2008, the District's bank deposit balances were $331,234. Of these balances
$205,106 was covered by the Federal Deposit Insurance Corporation and $236,489 was covered
by collateral held by the District's agent, a third-party financial institution, in the District's name.
Credit Risk - State law limits investments to those authorized by State statutes. The District does not
have a wdtten investment policy.
Interest-Rate Risk - Interest-rate dsk arises because potential purchasem of debt securities will not
agree to pay face value for those securities if interest rates substantially increase, thereby affording
potential pumhasers more favorable rates on essentially equivalent securities. Accordingly, such
investments would have to be held to matudty to avoid a potential loss.
Concentration of Credit Risk - Credit dsk can arise as a result of failure to adequately divemify
investments. Concentration risk disclosure is required for positions of five percent or more in
securities of a single issuer.
The District does not have any investments subject to credit risk, interest-rate risk or concentration of
credit risk.
D. Property, Plant and Equipment
Capital assets not being depreciated:
Land
Construction in progress
Total capital assets not being depreciated
Balance Balance
1/1/08 Additions Deletions 12/31/08
$ 511,340 $ 511,340
404,459 $ 404,459
915,799 404,459 511,340
Depreciable capital assets:
Building
Machinery and equipment
Infrastructure
Total Depreciable Capital Assets
305,894 $ 386,269 692,163
228,655 228,655
366,070 366,070
534,549 752,339 1,286,888
100,241 16,715 116,956
148,502 19,089 167,591
3,484 3,484
248,743 39,288 288,031
998,857
Accumulated Depreciation Building
Machinery and equipment
Infrastructure
Total Accumulated Depreciation
Total Net Depreciable Capital Assets
Total Capital Assets
$ 1,510,197
Depreciation expense of $39,288 was charged to culture and recreation expense for the year 2008.
-16-
MATTITUCK PARK DISTRICT
NOTES TO FINANCIAL STATEMENTS
Year ended December 31, 2008
E. Indebtedness
Short term debt
Bond Anticipation Notes (BANs) - Bond anticipation notes (BANs) are used as a temporary means
of financing capital expenditures in the capital projects fund. State law requires that BANs issued for
capital purposes be converted to long-term obligations within five yearn after the odginal issue date.
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 pedod thereafter. Liabilities
for BANs are generally accounted for in the capital projects fund. BANs are expected to be paid from
the proceeds of future bond issues after renewal of these notes. These BANs bear interest at 3.00%
and are due in September 2009.
When BANs are not redeemed with the proceeds of bond issues, but instead paid from budgetary
appropriations, the principal amount paid is recorded as an expenditure in the operating fund and a
financing source is recorded in the capital projects fund.
A summary of changes in BANS for the year ended December 31, 2008 is as follows:
Balance Balance
1/1/08 Increases Reductions 12/31/08
$ -0- $ 199.800 $ -0- $ 199.800
Bond Anticipation Notes
Lon,q-Term Debt
The following is a summary of changes in long-term liabilities for the year ended December 31,
2008:
1/1/2008 Increases Reductions 12/31/2008 Current Lon~-terrn
Serial bonds payable $ 105,000 $ 50,000 $ 55,000 $ 55,000
The Distdct 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 are the full faith and
credit of the Town of Southold. During the year 2008, the District recognized $3,297 of expenditures
for long-term debt interest.
The interest rate is 3.14%. Principal and interest payments to maturity of General Obligation
Serial Bonds as of December 31, 2009 are as follows:
Principal Interest
For the year ending December 31, 2009 $ 55.000 $ 1.727
REQUIRED SUPPLEMENTARY INFORMATION OTHER THAN
MANAGEMENT'S DISCUSSION AND ANALYSIS
-17-
MATTITUCK PARK DISTRICT
GENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
Year ended December 31,2008
Revenues
Real property taxes
Departmental income
Use of money and property
Fines and forfeitures
Other local sources
Expenditures
Culture and Recreation
Employee benefits
Debt service
Principal
Interest
Excess (Deficiency) of Revenues over Expenditures
Variance
Bud~]et Amounts Actual Positive
Od,qinal Final Amounts (Negative)
481,229 $ 481,229 $ 481,229
19,000 14,000 19,066
15,000 15,000 11,892
-0- --0- 750
-0- -0- 800
5,066
(3,108)
750
800
Total Revenues 515~229 510~229 513~737 3~508
482,710 438,710 343,268 95,442
29,222 29,222 25,816 3,406
50,000 50,000 50,000 -0-
3,297 3~297 3~297 -0-
TotalExpenditures 565,229 521~229 422,381 98~848
(50,000) (11,000) 91,356 102,356
Other Sources (Uses) of Funds
Transfers Out
Total Other Financing Soumes (Uses)
Net Change in Fund Balance
Fund Balance at Beginning of Year
Fund Balance at End of Year
-0- (39,000)
-0- (39,000)
(50,000) $ (50,000)
(33,274) 5,726
(33~274) 5,726
58,082 $ 108,082
248,356
$306~438
SUPPLEMENTARY INFORMATION
-18-
MATTITUCK PARK DISTRICT
GENERAL FUND
DETAILED SCHEDULE OF REVENUES AND OTHER FINANCING SOURCES
BUDGET AND ACTUAL
Year ended December 31, 2008
Real Property Taxes
Ad valorem taxes
Total Real Property Taxes
Departmental Income
Permits and fees
Total Departmental Income
Use of Money and Property
Interest earnings
Rental income
Total Use of Money and Property
Fines and Forfeitures
Forfeited bid deposits
Total Fines and Forfeitures
Miscellaneous Local Sources
Miscellaneous
Total Other Local Soumes
Variance
Bud~let Amounts Actual Positive
Original Final Amounts (Negative)
$ 481,229 $ 481,229 $ 481~229 $ -0-
481,229 481,229 481,229 -0-
19,000 14~000 19~066 5,066
19,000 14,000 19,066 5,066
15,000 15,000 11,642 (3,358)
-0- -0- 250 250
15,000 15,000 11,892 (3,108)
-0- -0- 750 750
-0- -0- 750 750
-0- -0- 800 800
-0- -0- 800 800
Total Revenues and Other Financing
Sources $ 515,229 $ 510,229 $ 513,737 $ 3,508
-19-
MATTITUCK PARK DISTRICT
GENERAL FUND
DETAILED SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES
BUDGET AND ACTUAL
Year ended December 31, 2008
Culture and Recreation
Salades
Site Improvements
Equipment
Supplies and Materials
Office
Telephone
Electdc
Water
Gas
Insurance
Site Maintenance
Equipment Repairs
Legal
Secretary
Treasurer
Election
Commissioner fees
Postage
Permits
Total Culture and Recreation
Employee Benefits
Social security
Hospital and medical insurance
Total Employee Benefits
Debt service
Serial bonds - principal
Serial bonds - interest
Total Debt Service
Interfund Transfers
Capital Projects Fund
Total Expenditures and Other Financing Uses
Variance
Budget Amounts Actual Positive
Od~inal Final Amounts (Ne~]ative)
161,275 165,115 153,277 11,838
96,425 54,525 39,865 14,660
10,000 10,000 1,019 8,981
49,800 51,450 51,050 400
250 250 170 80
6,500 8,100 8,048 52
15,000 10,400 10,392 8
750 750 303 447
6,000 6,000 4,132 1,868
60,000 60,000 31,387 28,613
50,000 27,435 10,620 16,815
8,000 8,000 2,234 5,766
5,000 22,900 19,961 2,939
5,775 5,775 4,500 1,275
5,775 5,775 5,775 -0-
150 215 215 -0-
1,500 1,500 -0- 1,500
450 450 250 200
60 70 70 -0-
482~710 438,710 343,268 95,442
13,222 13,222 12,512 710
16,000 16,000 13,304 2,696
29,222 29,222 25,816 3,406
50,000 50,000 50,000 -0-
3,297 3,297 3,297 -0-
53,297 53,297 53,297 -0-
-0- 39,000 33,274 5~726
565,229 $ 560,229 $ 455,655 $ 104,574