HomeMy WebLinkAbout1992 RECEIVED
r~UN ~ 5 1993
8OUTHOLD FIRE DZSTRICT
FIN~d~CI~L ~TATBMENT~
DBCEI~BBR 3~ ~992
ELAIN~' ~ KALDOR
CERTIFIED PUBLIC ACCOUNTANT
tS~ ORIFFING AVt~NU~
R~VIEBHA'AD, NEW YORK I~B01
TEL~PHON~ (~16) 7~7-7888
April 12, 1993
Board of Commissioners
Southold Fire District
Post Office Box 908
SoUthold, NeW York 11971
Dear commissioners:
We have audited the accompanying balance sheet of Southold
Fire District as cf December 31~ 1992, and the related statements
of income and expense~ fund balance and cash 'flows for the year
then ended. These financial statements are the ~esponsibility of
the District~g management, our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in'accordance with generally accepted
auditing standards. Those standards reqUire that we plan and
perform the'audit to obtain ~eaeenable 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 financial statements. An audit
also.includes assessing the accounting principles used and
significant estimates made by management, as wel! as evaluating
the overall financial statement presentation. We believe that our
audit provides a reasonable ba~i~ for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position
of Southold Fire District at December 31, 1992, and the results of
its operations and its cash flows for the year ended in conformity
with generally accepted accounting principles.
very truly yours,
Elaine F. Kaldor
certified Public Accountant
EFK:vemc
8OUTHOLD F~'I~ Dlf~TR~'CT
INDEX
combined Balance Sheet
1
Statement of Revenue and Expenditures
- General Fund
2
Statement of Revenue and Expenditures
- Capital Funds
Statement 0f Fund Balance
4
cash Flow Statement
5
Notes to Report
6
SOUTHOLD F~i~ DISTR~
OOJ(BINED B&Y.J~'OE SHEET
DECEJiBER 31~ 1992
General Capital
Fund FUnd Total
ASSETS
cash - checking Account $ 3,186 92 $ 3,186.92
Money Market 107,844[74 $497,086.70 604,931.44
certificate~ of Deposit 100.00
Petty cash on Hand 100.00
ToTA~ ~SSETS $111,131.66 $497,086.70 $608,218.36
~ ~ FUND ~
Accounts Payable
Payroll Taxes Payable
Total Liabilitie~
39,941.27 -0- $ 39,941.27
136.04 -0- 136.04
40;077.31 -0- $ 40,077.31
FUnd Balance
Reserve for Encumbrance
Unrestricted Fund Balance
(per page 4)
Total Fund Balance
TOTAU AND
FUND ~
71,054.35
71~054.3§
8111,131.66
$346,439.00
150,647.70
497~086.70
$497,086.70
$346,439.00
221,702.05
568~ 141.05
$608~218.36
NOTES TO FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT
BOUTHOLD FIRE OETRICT
HTATEMBHT OF REVENUE ~ BXPBNDXTURES
GENER,qL F~D
REVENUE
Real Property Taxes
Interest & Earnings
Miscellaneous
TOTAL REVENUES ~ OTHER SERVICES
Aotual Tr&ns&ct~ons
1/1 - 12/31/02
12 #onths
$589,373.76
12,868.51
572.47
$602,814.74
EXPENDITURES
Personal Services
Equipment Purchases
Hydrant Rental and Wells
Contractual ExPenses
Property Maintenance
Apparatus Maintenance
Utilities
Insurance
Equipment Maintenance
Other
Total Contractual
Employee Benefits
Workmen's Compensation
Social SecUrity
Total Employee Benefits
pebt Service
Principal
Interest
Total SebtServtce
~ T~A~S~S
TOTAL E P_~URES
EXCESS ~OVERREvENUE
$ 20,869.06
23,033.14
24,446.19
47,601.13
9,995.05
33;305.41
$ 4,981.00
4,140.12
$ 22;000.00
11,475.00
$ 54,119.21
170,062.29
14,516.25
$159,249.98
$ 9,121,12
$ 33,475.00
277,295.00
$717,838.85
$(115,024.11}
General Fund
NOTES TO FINANCIAL STATEHENTS ARE AN INTEGRAL PART OF THIS STATEMENT
SoUTHOLD FIRE DIHTRICT
STATEMENT OF RBVBHUE AND EZPENDITURH
C~PIT~L FUND
~AHUARY I - DECEMBER 31~ 1992
Interest and Earnings
Bond Proceeds
TOTAL REVENUES
Land Purchase
Balance Due on Pumper
Total Expenses
EXCESS
NETRESULT OF OPERATIONS
$ 19,173.32
190;000.00
$209;173.32
$181,641.70
125;339.25
$306,980.95
$(97,807.63)
277,29§.00
$179,487.37
- 3 -
capital Fund
NOTES TO FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT
SOuT~OLD FIRE DISTRICT
STA'£~i~NT OF FUND BALANCE
FOR TI~ YEAR ENDED DECEMBER 31,
1992
~'uND BALANCE 1/1/92
ADD: EXCESS INCOME OVER/
(UNDEa) EXPreSSES
TOTAL ~'uND BALANCE
GENERAL CAPITAL
FUND FUND
$186,078.46
(115,024.11)
71,054.35
$317,599.33
179,487.37
497,086.70
TOTAL
$503,677.79
64,463.26
568,141.05
LESS: RESERVE FOR ENCUMBRANCE
AERIAL TRUCE
UNRESTRICTED ~'ugD BALANCE 12/31/92
$ 71,054.35
(346,439.00)
$150,647.70
(346,439.00)
$221,702.05
-4-
NOTES TO FINANCIAL STAT~2iENTS ARE AN INTEGRAL PART OF THIS STATEI~EI~
SOUTHOLD FIRE DISTRICT
STATEM~T OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1992
GmUmAL mI.
FUND FUND
CASH FLOWS FROM OPERATING ACTMTIES:
(115,024.11)
Adjustments to Reconcile Net
Income to Net Cash Provided
by Operating Activities:
Increase in Accounts Payable
Decrease in Payroll Taxes Payable
TOTAL ADJUSTMENTS
29,563.05
( 1,690.23)
27,872.82
NET CASHPROVIDED BY
OPE~ATIN= Au£i¥£TIES
( 87,151.29)
$179,487.37
-0--
179,487.37
TOTAL
$' 64,463.26
29,563.05
( 1,690.23)
27,872.82
92,336.08
NET INCREASE/(DECREASE)
IN CASH
CASH AT BEGINNING OF YEAR
CASH AT END OF YEAR
(87,151.29)
198,282.95
$111,131.66
179,487.37
317,599.33
$497,086.70
92,336.08
515,882.28
$608,218.36
-5-
NOTES TO FINANCIAL STATE~4ENTS ARE AN INTEGRAL PART OF THIS STATEMENT
HOUTHOLD FIRE DX8TRXCT,
NOTE8 TO FXH~.HCXAL ST~TEHENT8
DBCEHBBR 3~ 1992
The Commissioners of the District adopted a General Fund
Budget for 1992 in the amount of $690~975.~ as compared to
the Budget of $505,825. for 1991. of the Budget of $690~975.,
$102,000. Wa, transferred from Fund Balance.
Total excess revenue over expense for 1992 was $ 64~463.
Total General Fund Revenues for 1992 were $602,81B., an
increase of $81~335. from 1991~ Accumulation of excess
revenue over expense iS for the purpose of purchasing s new
fire truck and the building of a new Fire House. The Sutphen
70 Foot Aerial Platform Truck was delivered 2/93 for $346,439.
In 1992, the District issued a serial Bond in the amount of
$190.000. at an interest rate of 5,30%. Bond proceeds were
used to purchase land for the site of the second Fire House of
the Distridt. As Of 12/31/92, $181,642, has been expended on
this project.
As of 12/31/92 a motor vehicle accident claim dated 4/30/91
is pending, As of 4/12/93, th~ claim has been settled with no
cost to the District. The Firs Districtt~ Attorney has
advised us that there are ho other claims pending.
In 1992 a referendum was approved by the Voters of the
soUthold Fire District which established a Service Award
Program which is a defi~ed benefit type plan. Eligible
Volunteer Firefighters will be covered Under this plan.
The minutes of 7/14/92 contain the details of the program.
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