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Home My WebLink About2011All Numbers in This Report 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 12/31/2011 RECEIVED 2 6 2012 $outhoid To,,vn C;ie~k AUTHORIZATION ARTICLE 3, SECTION 30 of the GENERAL MUNICPAL LAW: 1. ***Every Municipal Corporation *** shall annually make a report of its financial condition to the Comptroller. Such report shall be made by the Chief Fiscal Officer of such Municipal Corporation *** 5. All reports shall be certified by the officer making the same and shall be filed with the Comptroller *** 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 2010 and has been used by the OSC as the basis for preparing this update document for the fiscal year ended 2011: (A) GENERAL (B) GENERAL TOWN-OUTSIDE VG (CD) SPECIAL GRANT (DB) HIGHWAY-PART-TOWN (H) CAPITAL PROJECTS (K) GENERAL FIXED ASSETS (SF) FIRE PROTECTION (SM) MISCELLANEOUS (SP) PARK (SR) REFUSE AND GARBAGE (SS) SEWER (TA) AGENCY (V) DEBT SERVICE (W) GENERAL LONG-TERM DEBT All amounts included in this update document for 2010 represent data filed by your government with OSC as reviewed and adjusted where necessary. ***ARRASECTION*** The American Recovery and Reinvestment Act (ARRA) section of your Annual Financial Report is designed to report revenues and expenditures of federal stimulus money for the current fiscal year ended. *** 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 7) Schedule of Other Post Employment Benefits (OPEB) 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 2011 (A) GENERAL Balance Sheet Assets Cash 11,053,974 A200 9,490,981 Cash In Time Deposits 2,221,974 A201 4,115,081 Petty Cash 562 A210 297 TOTAL Cash 13,275,529 13,606,359 Taxes Receivable Current A250 905 TOTAL Taxes Receivable {net) 0 905 Accounts Receivable 61.006 A380 888.251 TOTAL Other Receivables (net) 6~,O06 888.281 State & Feoera Other 79.623 A410 277.607 TOTAL State And Federal Aid Receivables 79.623 277,607 Due From Other Funds 469.887 A391 553.288 TOTAL Due From Other Funds 469,887 553.288 Due From Other Governments 1.533 747 A440 1 035.603 TOTAL Due From Other Governments 1,533.747 1,035,603 nvemory 2.637 A445 2623 TOTAL Inventories 2.637 2,623 Prepaid Expenses 420.963 A48£ 694357 TOTAL Prepaid Expenses 42(~,963 694,357 TOTAL Assets 15,844.392 17,058,994 Page 3 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Balance Sheet Liabilities Accounts Payable 926,609 TOTAL ;Accoi. lntS Payable 926,609 Due To Other Funds 2.893.055 TOTAL Due To Other Funds 2,893,055 Due To Other Governments 1.834 TOTAL Due To Other Governments %834 Deferred Revenues 4638,260 TOTAL Deferred Revenues 4,638,260 TOTAL Liabilities 8,459~759 Reserve For Encumbrances 27.961 TOTAL Reserve For Encumbrances Not in Spendable Form TOTAL Nenspendable Fund Balance 0 Insurance Reserve 1.149.498 TOTAL Restricted Fund Balance 1,149,4.98 Unreserved Fund Balance Appropriated 1,914,000 Assigned Appropriated Fund Balance Assi9ned Unappropriated Fund Balance A600 2,357,568 2~357~568 A630 2.772.316 A63' 1.179 A69' 3,882,585 3.882,585 9,0~19,648 A821 27,961 0 A806 696.980 A863 A910 A914 A915 696,980 1499.060 1,499,060 1,815,989 Unreserved Fund Balance Unappropriated 4,293,174 A911 Unassigned Fund Balance A917 4,033,317 Page 4 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 201 1 (A) GENERAL Results of Operation Real Property Taxes 21,532,952 A1001 21,734,453 Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes 30,264 A1081 31,114 53,937 A1090 54,651 Non Prop Tax Dist By County ToTAl. N0h Pi~P~r~ Tax !rems Treasurer Fees Clerk Fees Other General Departmental Income Police Fees Charges-Programs For The Aging Park And Recreational Charges Special Recreational Facility Charges Other Home & Community Services Income General Services, Inter Government Programs For Aging, Other Govts 885,473 Al120 885,473 88S;473 885;4?3 4,725 A1230 5,400 8,598 A1255 7,848 7,553 A1289 555 5,923 A1520 6,543 193,436 A1972 199,619 99,817 A2001 100,883 47,793 A2025 162,006 48,755 A2189 46,920 133,922 A2210 178,229 142,097 A2351 146,111 Interest And Earnings 141,338 A2401 72,794 Rental of Real Property 165,614 A2410 197,279 Bingo Licenses 538 A2540 811 Dog Licenses 7,931 A2544 8,815 Permits, Other 252,870 A259g 259,925 261,339 ; ; 269~S2 Fines And Forfeited Bail 222,550 A2610 183,975 Forfeitures of Deposits 1,585 A2620 250 Forfeiture of Crime Prceeds Restricted 1,176 A2626 163 Sales of Scrap & Excess Materials 16,818 A2650 2,386 Sales, Other 260 A2655 1,074 Insurance Recoveries 283,150 A2680 1,020,711 Reimbursement of Medicare Part D Exp Refunds of Prior Year's Expenditures Gifts And Donations Employees Contributions Unclassified (specifv) ToTALMisce aneous L0ca sources St Aid, Mortc~age Tax St Aid - Other (specify) Additional Description $38.407,98 from 2010 St Aid, Trans Cap Grants (spec) St Aid, Youth Programs 66,280 A2700 70,605 94,936 A2701 35,089 17,015 A2705 23,606 A2709 155,257 191,176 A2770 25,828 3i0;$86i 1,063,088 A3005 974,928 9,879 A3089 66,088 11,306 A3597 94 33,363 A3820 25,915 Page 5 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Results of Operation St Aid Emergency Disaster Assistance Federal Aid - Other Fed Aid Other Public Safety Fed Aid, Transp Cap Proj Fed Aid, Programs For Aging Fed A~d, Disaster Assistance Fed Aid, Other Home & Community Cap TOTAL Federal Aid TOTAL Revenues nterfund Transfers TOTAl. tnterfund Transfers TOTAL Other Sources TOTAL Detail Revenues And Other Sources 6,581 A3960 30,066 31,339 A4089 10,637 16,796 A4389 29,842 22,144 A4697 10,898 112 133 A4772 101,230 39,489 A4785 189,075 9,517 A4997 9,265 231,41~ 350947 26,O14,116 27,066,~4 4.318.203 A5031 3,719,544 4,318,203 3,719,544 ~,318,203 3,7t9,544 30,332,320 30,785,958 Page 6 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Results of Operation Expenditures Legislative Board, Pers Serv Legislative Board, Contr Expend Municipal Court, Pers Serv Municipal Court, Equip & Cap Outlay Municipal Coud, Contr Expend TOTAL MS~i~ip~l C0"rt Supervisor,pets Sen] Supervisor,contr Expend Dir of Finance, Pers Sen/ Dir of Finance, Equip & Cap Outlay Dir of Finance, Contr Expend Auditor, Contr Expend Tax Collection,pers Serv Tax Collection,contr Expend Assessment, Pers Serv Assessment, Equip & Cap Outlay Assessment. Contr Expend Clerk,pers Serv Clerk,contr Expend Law, Equip & Cap Outlay Law, Contr Expend Engineer, Pers Serv Engineer. Contr Expend Records Mgmt, PerS. SerV. Records Mgmt, Equip & Cap Outlay Records Mgmt, Contr Expend Public Works Admin, Pers Sen/ Public Works Admin, Contr Expend TOTAL Public Works Admin Buildings, Pers Serv Buildings. Equip & Cap Ougay Buildings, Contr Expend TOTAL B~ d Ilgs Central Garage, Equip & Cap Outlay 121,393 A10101 121,328 105,302 A10104 115,656 394,339 Al1101 409,604 3,O79 Al1102 66,502 Al1104 63,669 216,574 A12201 221,678 3,244 A12204 2,281 326,212 A13101 343,840 2,219 A13102 1,464 26,512 A13104 11,835 88,000 A13204 88,605 95,169 A13301 96,225 15,135 A13304 21,999 342,008 A13551 319,886 855 A13552 18,664 A13554 16,832 338,822 A14101 350,168 20,227 A14104 18,417 359;04~ !; i 368;5~S 314,044 A14201 337,519 760 A14202 52,545 A14204 45,163 70,213 A14401 73,711 1,561 A14404 1,544 67,498 A14601 72,479 214 A14602 1,516 A14604 4,406 41,985 A14901 59,782 413 A14904 436 42,398 ~ 601218 799,049 A16201 768,496 74,519 A16202 110,788 517,836 A16204 679,253 1,39t,401 1,558i537 A16402 14,676 Page 7 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Results of Operation Expenditures Central Garage, Contr Expend 12,552 A16404 15,262 Central Print & Mail, Equip & Cap Outlay Central Print & Mail,contr Expend 55,689 A16702 54,882 38,843 A16704 28,286 Central Data Process, Pers Serv Central Data Process & Cap Outlay Central Data Process, Contr Expend 172,926 A16801 185,706 5,626 A16802 2,844 249,515 A16804 253,186 Unallocated Insurance, Contr Expend Municipal Assn Dues, Contr Expend Payment of Mta Payroll Tax,contr Expend 331,639 A19104 284,322 ~ 9~i32~ 1,650 A19204 1,650 41,943 A19804 43,064 Other General Government, Pars Serv Other Gen Govt Support, Equip & Cap Outlay Other Gan Govt Support, Contr Expend 85,077 A19891 89,308 2,455 A19892 7,934 743 A19894 663 Public Safety Comm Sys, Pars Serv Public Safety Comm Sys, Equip & Cap Outlay Public Safety Comm Sys, Contr Expend TOTAL Pu~ii~ S~fety Comm sys Police, Pers Serv Police, Equip & Cap Outlay Police, Contr Expend TOTAL ~ii~ Traffic Control, Equip & Cap Outlay Traffic Control, Contr Expert 771,920 A30201 760,813 34,026 A30202 45,404 24,665 A30204 27,982 834;199 7,020,670 A31201 7,358,266 141,496 A31202 381,274 410,017 A31204 447,954 A33102 13,330 A33104 10,424 Fire, Contr Expend 77 A34104 77 Control of Animals, Contr Expend 195,492 A35104 201,829 TOTAL C~i bf A~ima s 201;829 Examining Boards, Pets Serv 8,874 A36101 6,185 Examining Boards, Contr Expend 5,305 A36104 5,524 TOTAE EX~mi~ing B0ards 14~i79 i3;709 Civil Defense, Equip & Cap Outlay 300 A36402 Civil Defense, Contr Expend 57 A36404 18 Public Health, Contr Expend 600 A40104 800 TOTAL Pb~liC Hbalth 800 800 Page 8 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Results of Operation Expenditures Narcotic Guid Council, Contr Expend 32,988 A42104 32,988 Street Admin, Pers Serv 274,670 A50101 293,731 Street Lighting, Pers Sen/ Street Lighting, Equip & Cap Outlay Street Lighting, Contr Expend Off-Street Parking, Contr Expend 293;731; 55,606 A51821 57,144 273 A51822 2,449 93,324 A51824 120,707 180,299 696 A56504 373 Publicity, Contr Expend Programs For Aging, Pers Ser~ Programs For Aging, Equip & Cap Outlay Programs For Aging, Contr Expend 30,000 A64104 871,984 A67721 30 A67722 216,850 A67724 30,000 30~000 899,119 236,236 Recreation Admini, Pers Sen/ Recreation Admini, Equip & Cap Outlay Recreation Admini, Contr Expend TOTA~ Re~ati0n Admini Special Rec Facility, Pers Serv Special Rec Facility, Contr Expend TOTAL special Ree Facility Youth Pro9, Contr Expend 67,299 A70201 76,591 100 A70202 100 89,798 A70204 84,890 iii57;198 1611561 92,390 A71801 83,012 6,082 A71804 6,341 98;47~ 89,353 3,050 A73104 2,793 2;793 Library, Contr Expend A74104 Historian, Pers Sen/ 17,680 A75101 18,387 Historian, Contr Expend 287 A75104 245 Historical Property, Pers Serv 3,692 A75201 Historical Property, Contr Expend 1,056 A75204 4;748 Celebrations, Contr Expend 855 A75504 TOTAL celeb~fi6ns 885 TOTAL Culture And Recreation 282,290 Environmental Control, Pers Serv 185,572 A80901 Environmental Control Equip & Cap Outlay 873 A80902 Environmental Control, Contr Expend 20,054 A80904 TOTAL Environmental Control 206,499 Shade Tree, Pers Serv 1,721 A85601 4,000 4~000 922 922 277,280 190,907 19,139 210,046 1,523 Page 9 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Results of Operation Expenditures Shade Tree, Contr Expend 1,511 A85604 10,749 Conservation, Equip & Cap Outlay Conservation, Contr Expend A87102 585 972 A87104 1,367 Fish And Game, Contr Expend TOTAL. Fi~ A~d Garb Cemetery, Contr Expend 28,000 A87204 28,000 2e, ooO 6 A88104 6 Misc Home & Comm Serv, Pers Serv Misc Home & Corem Serv, Equip & Cap Outlay Misc Home & Corem Serv, Contr Expend 163,380 A89891 167,362 163 A89892 707 A89894 339 State Retirement System Police & Firemen Retirement, Empl Bnfts Social Security, Employer Cont Worker's Compensation, Empl Bnffs Unemployment Insurance, Bmpl Bnfts Disability Insurance, Empl Bnfts Hospital & Medical (dental) Ins, Empl Bnft Other Employee Benefits (spec) Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 631,604 A90108 941,836 935,452 A90158 1,222,531 871,155 A90308 899,071 174,876 A90408 209,851 30,764 A90508 21,507 262,882 A90558 278,378 4,626,530 A90608 5,863,584 10,019 A90898 18,049 7~543~281 9,454;806 632,425 A97106 647,425 387,193 A97306 388,905 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 156,472 A97107 135,699 35,520 A97307 16,991 Transfers, Other Funds 2,722,722 A99019 2,524,720 TOTAL Detail Expenditures And Other Uses 27,491,380 30;125,246 Page 10 OSC MunicipaLity Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fu~,d Equity-Begim~iilg of Year Restated Fund Equity -Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT - EXPENDITURES AND OTHER USES Ful~d Equity-End of Year 4,543,693 A8021 7,384,633 4,543,693 A8022 7,384,633 30,332,320 30,785,958 27,491,380 30,125,246 7,384,633 A8029 8,045,346 Page 11 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Budget Summary Estimated Revenues Est Rev- Real Properly Taxes Est Rev - Real Properly 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 For[eitures Est Rev - Sale of Prop And Comp For Loss Est Rev - Miscellaneous Local Sources Est Rev - State Aid Est Rev- Federal Aid 21,734,453 A1049N 22,412,761 54,000 A1099N 66,000 085,473 Al199N 885,473 406,000 A1299N 417,700 397,055 A2399N 460,385 275,000 A2499N 273,600 251,450 A2599N 262,480 200,600 A2649N 225,500 140,625 A2699N 145,625 155,323 A2799N 189,677 1,239,000 A3099N 1,125,000 95,000 A4099N 55,500 Estimated - Inter[und Transfer Appropriated Fund Balance 3,994,809 AS031N 4,249,413 t,914,000 A599N 1,753,178 Page 12 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (A) GENERAL Budget Summary Appropriations App - General Govemment Suppod App - Public Safety App - Health App - Transportation App - Economic Assistance And Oppodunity App - Culture And Recreation App - Home And Community Services App - Employee Benefits App - Debt Service 7,099,617 A1999N 6,967,437 9,457,090 A3999N 9,585,843 33,500 A4999N 34,300 505,900 A5999N 532,400 1,214,650 A6999N 1,304,700 310,073 A7999N 314,810 443,251 A8999N 452,969 8,809,452 A9199N 9.519,428 1,323,500 A9899N 1,133,700 App - Interfund Transfer 2,605,415 A9999N 2,696,705 Page 13 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (B) GENERAL TOWN OUTSIDE VG Balance Sheet Assets Cash In Time Deposits 577,094 B201 543,067 TOTAL Cash 577,094 543,067 Accounts Receivable 76,900 B380 80.318 TOTAL Other Receivables (net} 76,900 80,318 State & Federal Receivables B410 59,755 TOTAL State And Federal Aid Receivables 0 59,755 Due From Other Funds 210.174 B391 148855 TOTAL Due From Other Funds 210.174 148,855 Prepaid Expenses 26.502 B480 38,324 TOTAL Prepaid Expenses 26,502 38.324 TOTAL Assets 890,669 870,320 Page 14 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 201 (B) GENERAL TOWN-OUTSIDE VG Balance Sheet Liabilities Accounts Payable 22,815 B600 10,865 Deferred Revenues 226,220 B691 165,293 TOTAL Reserve For EncumbranCes Ufqreserved Fund Balance Appropriated Assigned Appropriated Fund Balance Unreserved Fund Balance Unappropriated 16,400 B821 241,000 B910 B914 384,234 B911 694,162 Page 15 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (B) GENERAL TOWN-OUTSIDE VG Results of Operation Real Property Taxes 904,014 B1001 783,364 Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes 1,335 B1081 1,179 118 B1090 43 Franchises 300,987 Bl170 314,260 314~260 Other General Departmental Income 8,785 B1289 8,521 Safety Inspection Fees 498,382 B1560 505,712 Public Health Fees 11,502 B1601 13,902 Zoning Fees 38,865 B2110 73,450 Planning Board Fees 80,885 B2115 34,191 Interest And Earnings 2,330 B2401 2,284 Permits, Other 9,200 B2590 5,100 5~100 Sakes, Other 118 B2855 179 St Aid, State Revenue Sharing St Aid, Planni~g Studies Additional Description Includes 2010 adjustment $58,771.78 T~TA~ TOTAL R~ TOTAl.Detail Revenues Arid Other Sources 90,131 B3001 88,328 -1,882 B3902 60,001 ~;890;808 1~944i770 1,890,505 Page 16 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (B) GENERAL TOWN-OUTSIDE VG Results of Operation Expenditures Law, Contr Expend Payment of Mta Payroll Tax, Contr Expend 26,264 914204 32,562 3,743 919804 3,944 Safety Inspection, Pers Serv Safety Inspection, Equip & Cap Outlay Safety Inspection, Contr Expend Misc Public Safety, Pers Serv 459,978 936201 562,140 936202 12,073 936204 12,040 953 939891 661 Zoning, Pers Serv 139,366 980101 144,250 Zoning, Contr Expend 20,055 980104 16,725 Planning, Pers Serv 481,281 B80201 446,681 Planning, Equip & Cap Qu8ay 153 B80202 192 Planning, Contr Expend 130,073 B80204 34,850 State Retirement, Empl Bnfts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Disability Insurance, Empl Bnfts Other Employee Benefits (spec) 98,351 990108 140,955 82,693 990308 86,934 8,863 990408 10,636 25,732 990558 27,499 10,019 990898 18,049 Transfers, Other Funds 348,67t B99019 299,860 299;860 1,s37~9~ Page 17 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (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 545,131 B8021 641,634 545,131 B6022 641,634 1,944,770 1,890,505 1,848,267 1,837,977 641,634 B8029 694,168 Page 18 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (B) GENERAL TOWN-OUTSIDE VG Budget Summary Estimated Revenues Est Rev - Real Property Taxes Est Rev- Real Property Tax Items Est Rev- Non Property Tax Items Est Rev- Depadmental Income Est Rev - Use of Money And Property Est Rev- Licenses And Permits Est Rev Sale of Prop And Comp For Loss Est Rev-State Aid Appropriated Fund Balance 783,364 1,400 276,000 680,160 2,000 5,100 100 130.000 241,000 B1049N B1099N B1199N B1299N B2499N B2599N B2699N B3099N B599N 587,579 501,000 638,060 2,000 5.500 100 263,643 Page 19 OSC Municipality Code 470379000000 TOWN OF $outhold Annual Update Document For the Fiscal Year Ending 2011 (B) GENERAL TOWN-OUTSIDE VG Budget Summary Appropriations App - General Government Suppor~ 95,000 B1999N 95,200 App - Public Safety 574.050 B3999N 559.550 ^pp - Home And Community Services 851,606 B9999N 890,658 App - Employee Benefits 269,600 B9199N 326,620 App - Interfund Transfer TOTAL AP~r0 ~ri~ibn~ A~d 0ther:uses 309,866 BggggN 331,994 309,866 33t;994 2,114'~022 Page 20 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (CD) SPECIAL GRANT Balance Sheet State & Federal Receivables TOTAL State Anti Federal Aid ReceiVables Due From Other Funds TOTAL Due From Other Funds Due From Other Governments TOTAL Due From Other Governments TOTAL Assets CD410 765 0 ?65 CD391 12533 D 12,533 133.500 CD440 133,500 0 133,500 13,298 Page 21 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (CD) SPECIAL GRANT Balance Sheet Liabilities Accounts Payable 133,500 CD600 3,315 Other Restricted Fund Balance CD899 9,983 Page 22 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (CD) SPECIAL GRANT Results of Operation Refunds ef Prior YeaCs Expenditures CD2701 9,983 Fed Aid, Community Development Act 207,981 CD4910 112,145 Page 23 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (CD) SPECIAL GRANT Results of Operation Expenditures Prov of Public Service, Contr Expen 207,981 CD86764 112,145 Page 24 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (CD) SPECIAL GRANT Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity-Beginnirtg of Year Restated Fund Equity -Beg of Year ADD - REVENUES AND OTHER SOURCES DEDUCT- EXPENDITURES AND OTHER USES Fund Equity-End of Year C98021 C98922 207,981 122,128 207,981 112,145 C98029 9,983 Page 25 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (DB) HIGHWAY-PART-TOWN Balance Sheet Cash In Time Deposits TOTAL Cash State & Federal Receivables TOTAL StateA~d Federa Aid Rece ,/ab es Due From Other Funds TOTAL Due From Other Funds Prepaid Expenses TOTAL Prepaid Expenses TOTAL Assets 704,809 DB201 798,148 217.940 DB410 245,420 217,940 245,420 983.329 DB391 828,341 983,329 828 341 55,567 DB480 79.494 55.567 79,494 1,961,645 I 951 403 Page 26 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (DB) HIGHWAY-PART-TOWN Balance Sheet Liabilities Accounts Payable 331,357 DB600 199,776 Due To Other Funds 1,537 DB630 4,000 Unreserved Fund Balance Appropriated Assigned Appropriated Fund Balance Assigned Unappropriated Fund Balance 986,283 DB691 821,797 228,850 DB910 DB914 360,818 DB915 565,012 Unreserved Fund Balance Unappropriated 413,618 DB911 Page 27 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 201 1 (DB) HIGHWAY-PART-TOWN Results of Operation Revenues Real Property Taxes 4,032,425 DB1091 4,5~6,896 Other Payments In Lieu of Taxes Interest & Penalties On Real Prop Taxes 5,949 DB1081 6,897 528 DB1099 251 Other Transpodation Departmental Income TOTAL DePartme~ta! Income ; Interest And Earnings 250 DB1789 5,635 DB2401 6,584 Permits, Other 6,914 DB2590 10,410 Insurance Recoveries 1,419 DB2680 9,950 St Aid, Consolidated Highway Aid St Aid Emergency Disaster Assistance 322,919 DB3501 342,355 20,105 DB3960 5,167 Fed Aid, Emergency Disaster Assistance 120,630 DB4960 240,253 Page 28 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (DB) HIGHWAY-PART-TOWN Results of Operation Expenditures Administration-Contractual 36 DB17104 26 Payment of Mta Payroll Tax, Contr Expend 6,848 DB19804 6,257 Maint of Streets, Pers Serv 1,486,122 DB51101 1,304,965 Maint of Streets, Contr Expend 2t6,048 DB51104 575,486 Perm Impreve Highway, Equip & Cap Outlay 322,919 DB51122 342,355 Machinery, Pers Serv 283,242 DB51301 255,785 Machinery, Equip & Cap Outlay 43,543 DB51302 Machinery, Contr Expend 135,481 DB51304 150,025 Brush And Weeds, Pars Serv 30,771 DB51401 144,884 Brush And Weeds, Equip & Cap Outlay 243 DB51402 Brush And Weeds, Contr Expend 75,727 DB51404 77,429 Snow Removal, Pets Serv 177,975 DB51421 149,175 Snow Removal, Equip & Cap Outlay 10,600 DB51422 43,787 Snow Removal, Contr Expend 176,788 DB51424 132,057 TOTAL S~owRernoval State Retirement, Empl Drifts Social Security, Empl Bnfts Worker's Compensation, Empl Bnfts Disability Insurance, Empl Bnfts 204,656 DB90108 293,521 149,010 DB90308 139,924 117,391 DB90408 140,869 55,049 DB90558 55,720 TOTAEE~Pi0yeb B6nefits ; ; ; ;526106 630~033 Debt Principal, Serial Bonds 86,000 DB97106 85,000 Debt Principal, Bond Anticipation Notes 30,000 DB97306 125,000 Debt Interest, Serial Bonds 9,799 DB97107 4,388 Debt Interest, Bond Anticipation Notes 2,271 DB97307 7,269 TOTAL Debt Interest TOTAL Expenditures Transfers Other Fu~lds 3;620;5i9 4;033,919 958,513 DB99019 891,481 958,5t3 891,481 TOTAL. Operating Transfers TOTAL Other Uses 894,481 TOTAL Detai! EXpenditsres And Other Uses 4,579;03t 4~925;~01 Page 29 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (DB) HIGHWAY-PART-TOWN Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fu~d 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 704,725 DB8021 642,468 704,725 DB8022 642,468 4,516,774 5,208,763 4,579,031 4,925,401 642,468 DB8029 925,830 Page 30 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (DB) HIGHWAY-PART-TOWN Budget Summary Estimated Revenues Est Rev - Real Property Taxes Est Rev - Real Property Tax Items Est Rev - Use of Money And Property Est Rev- Licenses And Pemlits Est Rev - Sale of Prop And Comp For Loss Est Rev- State Aid 4,586,896 DB1049N 4,762,749 6,500 DB1099N 7,050 6,000 DB2499N 5,500 4,000 DB2599N 7,000 30,000 DB2699N 30,000 326,819 DB3099N 326,819 Appropriated Fund Balance 228,850 DB599N 290,800 Page 31 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (DB) HIGHWAY-PART-TOWN Budget Summary Appropriations App - Transportation App - Employee Benefits App - Debt Service Interfund Transfers 3,349,124 702,738 223,715 913,488 5~189;065 DB5999N DB9199N DB9899N DB9999N 3,410,194 733,038 309,970 976,716 5,429,918 Page 32 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (H) CAPITAL PROJECTS Balance Sheet Cash In Time Deposits TOTAb Cash Accounts Receivable TOTAL Other Receivables (net) State & Federal Receivables TOTAL State A~d Federal Aid Receivables Due From Other Funds TOTAL Due From Other Funds Due From Other Governments TOTAL Due From Other Governments TOTAL Assets 6,113,937 H201 11,056,822 20,976 H380 4,694 905,632 H410 12,474 135,115 H391 229,606 229,606 340,895 H440 444,083 Page 33 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (H) CAPITAL PROJECTS Balance Sheet Liabilities Accounts Payable Retained Percentages. Cont Pay Bond Anticipation Notes PayaBle TOTAL Notes P~b O Due To Other Funds TOTAL Due To Other Fsnds Deferred Revenues TOTAL Liabilities Unreserved Fund Balance ADoroDnatea Ass}gned Appropriated Fund Balance Assigned Unappropriated Fund Balance Unreserved Fund Balance Unappropriated 447,830 H600 268,125 447,830 268~125 92.261 H605 32.437 92~26~ 32,437 6,218,000 H626 2.992.000 6,218,000 2,992,000 1.825 H630 12.474 1,825 12.474 H691 500 0 500 6,759,916 3,305,537 3,172,288 H910 H914 5,312,327 H915 3,129,816 Page 34 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (H) CAPITAL PROJECTS Results of Operation Misc Revenue, Other Govts 3,869,750 H2389 3,570,355 Interest And Earnings 29,825 H2401 28,964 Gifts And Donations Premium & Accrued Interest On Obligations Unclassified (specify) Additional Description Rental of real property TOTAL Uiscellaneous Local Sources St Aid Other Home And Corem Serv TOTAL State Aid Fed Aid - Cap Projects TOTAL Federal Ai¢ TOTAL Revenues nterfund Transfers TOTAL Inter~und Transfers Serial Bonds Bans Redeemed From Appropriations 100 H2705 100 H2710 6,640 45,001 H2770 2,466 45.101 9.206 179.894 H3989 42.974 179.39~ 42,974 2 611119 H4097 1,267.623 2,611,119 1.267,623 6.735,689 4,9J9.122 66.420 H5031 307.145 66.420 307.145 H5710 13,175,000 706,427 H5731 983,312 Page 35 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 201 1 (H) CAPITAL PRQJECTS Results of Operation Expenditures General Govt, Equip & Cap Outlay 328,688 H19972 466,800 Public Safety Cap Proj 18,334 H30972 7,963 Perm Improve Highway, Equip & Cap Outlay 843,501 H51122 260,736 Sanitation, Equip & Cap Outlay 6g0,60§ HSTg72 Debt Principal, Serial Bonds 693,500 H97106 791,500 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes TOTAL D6b~[ ih~rest TOTAL Detail EXpenditures A,d Other uses 975,217 H97107 844,906 972 H97307 3,266 Page 36 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (H) CAPITAL PROJECTS Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Eund 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 3,767,307 H8021 756,639 3,767,307 H8022 756,639 7,508,536 19,384,579 10,519,204 11,699,075 756,639 H60~9 0,442,140 Page 37 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (K) GENERAL FIXED ASSETS Balance Sheet ~sets Land 107,543,740 K101 116,444,531 Buildings 26,987,064 K102 26,896,889 Improvements Other Than Buildings 17,747,037 K103 18,159,530 Machinery&Equipment 14,747,059 K104 15,037,268 Construction Work In Progress 1,429,472 K105 1,531,435 Infrastructure 76,399,039 K106 78,274,790 Page 38 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (K) GENERAL FIXEDASSETS Balance Sheet Fund Equity Total NonoCurrent Govt Assets 244,853,4~1 K159 256,344,445 Page 39 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SF) FIRE PROTECTION Balance Sheet Cash In Time Deposits 19,559 SF201 23,798 Due From Other Funds 151,671 SF391 128,269 Page 40 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SF) FIRE PROTECTION Balance Sheet Liabilities Accounts Payable 13,136 SF600 13,136 Deferred Revenues 151,671 SF691 128,269 Unreserved Fund Balance Appropriated Assigned Appropriated Fund Balance Assigned Unappropriated Fund Balance Unreserved Fund Balance Unappropriated 1,500 SF910 SF914 SF915 4,922 SF911 998 9,664 Page 41 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SF) FIRE PROTECTION Results of Operation Real Property Taxes 652,565 SF1001 712,563 Interest & Penalties On Real Prop Taxes 85 SF1090 39 Interest And Earnings 418 SF2401 377 TOTAL R~e~[l~s 653;068 712~7~ Page 42 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SF) FIRE PROTECTION Results of Operation Expenditures Fire Protection, Contr Expend 659,097 SF34104 708,736 Interfund Loans TOTAL Debt tntere~t ;; TOTAL Detai ExPendit Urds ~ ~h~t~ IJ~ 18 SF97957 4 6s9itt~ ; ; 708i740 Page 43 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SF) FIRE PROTECTION Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Furid 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 12,469 SF8021 6,422 12,469 SF8022 6,422 653,068 712,979 659,115 708,740 6,422 SF8029 10,662 Page 44 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SM) MISCELLANEOUS Balance Sheet Assets Cash 600,125 SM200 760,630 Cash In Time Deposits 453 SM201 46,231 Accounts Receivable Allowance For Receivables TOTAL Other Receivables (net) State & Federal Receivables TOTAL State And Federal Aid Receivables Due From Other Funds TOTAL Due From Other Funds Preoaid Exoenses TOTAL Prepaid Expenses TOTAL Assets 32,243 SM380 57,223 32,243 46,099 4.758 SM410 2374 4,768 2,374 175.702 SM391 143,268 175,702 143,268 29.969 SM480 44.603 Page 45 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SM) MISCELLANEOUS Balance Sheet Liabilities Accounts Payable 137,697 SM600 181,776 Other Liabilities 6,952 SM658 7,013 Deferred Revenues 155,382 SM691 143,214 TOTAL Li~biiiU~ : ; 332,002 Unreserved Fund Balance Appropriated 132,000 SM910 Assigned Appropriated Fund Balance SM914 50,000 Assigned Unappropriated Fund Balance SM915 662,652 Unreserved Fund Balance Unappropriated 412,666 SM911 Page 46 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 201 (SM) MISCELLANEOUS Results of Operation Real Properly Taxes 830,000 SM1001 730,000 Interest & Penalties On Real Prop Taxes 109 SM1090 40 Other General Depadmental Income 2,628,132 SMt289 2,578,381 Misc Revenue, Other Govts 24,829 SM2389 26,913 TOTAL int~rg~e~t~ ~h~lrg~; ; ; 26;913 Interest And Earnings 1,874 SM2401 1,788 Commissions 7,332 SM2450 2,925 Refunds of Prior Year's Expenditures Unclassified (specify) SM2701 1,887 1,471 SM2770 2,298 St Aid, Other Aid (specify) 4,456 SM3089 5,763 Federal Aid - Other 188,395 SM4089 251,902 TOTAL Detail Revenues And 0thOr seur~es ~,eo%~95 Page 47 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SM) MISCELLANEOUS Results of Operation Expenditures Other Gen Govt Support, Contr Expend 202,470 SM19894 244,494 Insect Control, Pers Serv 54,659 SM40681 46,879 Insect Control, Contr Expend 26,723 SM40684 22,004 h~sect Control, Empl Bnfts 4,181 SM40688 5,847 TOTA~ i~ect ;~tt~[; ; 74,730 TOTALHe~i{~ i ; ; ; 8~ 74 730 Other Transportation, Pers Serv 1,239,277 SM50801 1,230,642 Other TranspoAation, Bwuip & Cap Outlay 480,716 $M56802 366,419 Other Transportation, Contr Expend 572,188 8M56804 710,522 Other Transportation, Empl Bnffs 387,688 $M56808 419,072 Misc Home & Comm Serv, Contr Expend 11,375 SM89894 7,265 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 175,000 SM97106 175,000 100,000 SM97306 100,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes 85,075 SM97107 78,513 14,664 SM97307 7,255 TOTAL ~xpen~itures; 3354016 3,433~912 TOTAL D~taii ExPe~cli~ures And Other Uses 3354016 3 ~3~ ~i2 Page 48 DSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SM) MISCELLANEOUS 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 212,086 SM8021 544,668 212,086 SM8022 844,668 3,686,598 3.601,896 3,354,016 3,433,912 544,668 SM8029 712,660 Page 49 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (sP) PARK Balance Sheet Assets Cash In Time Deposits 563,451 SP201 652,632 Due From Other Funds 194,039 SP391 153,404 Page 50 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SP) PARK Balance Sheet Liabilities Accounts Payable TOTAL~otlnt~ Pa~lble Other Liabilities TOTAL Other Liabilities Due TO Other Governments TOTAL Due TO Other Governments Deferred Revenues TOTAL Deferred Revenues TOTAL Liabilities Unreserved Fund Balance Appropriated Assigned Appropriated Fund Balance Assigned Unappropriated Fund Balance 93,172 SP600 22,318 4.515 SP688 4,515 0 2,779 SP631 2,779 O 201489 SP691 153.404 201,489 153.404 301,955 175,722 118,093 SP910 SP914 162,053 SP915 468,232 Unreserved Fund Balance Unappropriated 337,452 SP911 Page 51 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SP) PARK Results of Operation Revenues Real Property Taxes Interest & Penalties On Real Prop Taxes Interest And Earnings Sales of Scrap & Excess Materials Unclassified Additional Description Fees, Permits and usage fees 941,088 SP1001 911,610 123 SP1090 50 4,808 SP2401 5,099 1,350 SP2650 106 SP2701 3,620 69,950 SP2770 73,788 Page 52 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (sP) PARK Results of Operation Parks, Pers Serv 337,746 SP71101 347,609 Parks, Equip & Cap Outlay 442,613 SP71102 79,578 Parks, Contr Expend 285,034 SP71104 280,759 Parks, Empl Bnfts 55,284 SP71108 61,150 Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes SP97106 40,000 SP97306 50,000 Debt Interest, Bond Anticipation Notes 889 SP97307 28O Page 53 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 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 Fuf~d Equity - End of Year 599,676 SP8021 455,535 599,676 SP8022 455,535 1,161,566 819,386 455,535 SP8029 630,316 Page 54 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SR) REFUSE AND GARBAGE Balance Sheet Assets Cash In Time Depos)ts Petty Cash TOTAL Cash Accounts Receivable TOTAL Other Receivables (net) State & Federal Receivables TOTAL State And Federal Aid Receivables ~ue From Other Funds TOTAL Due From Other Funds Prepaid Exl)enses TOTAL Prepaid Expenses TOTAL Assets 1,160,037 SR201 1,171,710 400 SR210 400 133,557 SR38£ t33.953 133,557 133,953 SR41( 85244 612,463 SR391 588,224 612,463 688,224 53,295 SR480 49.778 53,295 4~,778 1,959,752 2,029,309 Page 55 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SR) REFUSE AND GARBAGE Balance Sheet Liabilities Accounts Payable Due TO Other Governments ToTAE D~e To:0ther Goyernments Deferred Revenues TOTAL Dei~er~ed Revenues TOTAL Liabilities Reserve For Encumbrances TOTAL Reserve For Encumbrances Unreserved Fund Balance Appropriated Assigned Appropriated Fund Balance Assigned Unappropriated Fund Balance Unreserved Fund Balance Unappropriated 199,587 SR600 251,833 199;587 25;1~83~ 3.859 SR631 2.327 3,859 ~327 644.397 SR691 443.764 644.,397 443,764 847,843 697,924 SR821 0 0 147000 SR910 SR914 310,414 964,909 SR911 Page 56 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 201 1 (SR) REFUSE AND GARBAGE Results of Operation Real Property Taxes 2,566,194 SR'i001 2,393,906 Interest & Penalties On Real Prop Taxes 336 SR1090 131 Refuse & Garbage Charges Interest And Earnings TOTAI~ 8~ ~(Money And pr0pb~ Permits, Other 1,473,565 SR2130 1,882,785 1,882,785 11,400 SR2401 15,600 11;400; 135,270 SR2590 162,984 Sales of Scrap & Excess Materials Insurance Recoveries fOTAL Sale of Prope~'y And Compertsation For Loss Unclassified ~specdy) TOTAL Miscellaneous Local Sources St Aid Other Aid specify Additional DescnDuon STOP Program assmtance NYS DECI TOTAL State Aid Federal A~d - Other TOTAL Federal Aid TOTAL Revenues TOTAL Detail Revenues And Other Sources 287,651 SR2650 337,472 24,541 SR2680 20,817 312.192 388.289 ~848 SR2770 -848 0 10.110 SR3089 31.740 10,110 31.740 57,361 SR4089 85.244 87,361 85,244 4,565.580 4,930,677 4,565,580 4.930.677 Page 57 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SR) REFUSE AND GARBAGE Results of Operr~tion Expenditures Payment of Mta Payroll Tax,contr Expend 3,426 SR19804 3,573 Refuse & Garbage, Pars Serv 1.026,244 SR81601 1.215,833 Refuse & Garbage, Equip & Cap Outlay 2,773 SR81602 4,152 Refuse & Garbage, Contr Expend 1,700,804 SR81604 2,032,135 'i'oTA~ RefUse & Garbage 2,729,82i 3,252;119 TOTAL H~e Ahd C~munity services 3;252;119 State Retirement, Empl Bnfts 104,177 SR90108 147,186 Social Security, Empl Bnfls 77,449 SR90308 89,523 Worker's Compensation, Empl Bnfts 54,816 SR90408 74,148 Disability Insurance, Empl Bnfts 28,491 SR90558 31,448 Debt Principal, Serial Bonds 447,900 SR97106 457,900 Debt Principal, Bond Anticipation Notes 149,234 SR97306 150,000 Debt Interest, Serial Bonds Debt Interest, Bond Anticipation Notes Other Debt, Interest 203,758 SR97107 192,872 5,639 SR97307 1,806 475 SR97897 TOTAL Ex~bditures Transfers, Other Funds 3,805;t85 4,400;574 354,717 SR99019 310,627 Page 58 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (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 Fund Equity - E~d of Year 706,232 SR8021 1,111,909 706,232 SR8022 1,111,909 4,565,580 4,930,677 4,159,903 4,711,201 1,111,909 SR8029 1,331,385 Page 59 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (ss) SEWER Balance Sheet Assets Cash In Time Deposits TOTAL Cash~ Sewer Rents Receivable TOTAL O~h~ Receivables (net) Due From Other Funds TOTAL DUe From Other Funds TOTAL Assets 285,965 SS201 104,534 1,906 SS360 570 SS391 23,808 : s~o 2ss;~ Page 60 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (ss) SEWER Balance Sheet Liabilities Accounts Payable 1,584 Deferred Revenues SS600 83 SS691 17,488 Unreserved Fund Balance Appropriated 182,085 SS910 Assigned Appropriated Fund Balance SS914 17,429 Assigned Unappropriated Fund Balance SS915 93,342 Unreserved Fund Balance Unappropriated 104,772 SS911 Page 61 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SS) SEWER Results of Operation Revenues Real Property Taxes 4,375 SS1001 Special Assessments 2,422 SS1030 Interest & Penalties On Spec Assessments Sewer Charges 24,022 SS2122 31,848 TOTAL Departmental Income 24,022 31,848 Interest And Earnings 734 SS2401 573 TOTAL Use of MoneyAnd Property 734 573 TOTAL Sale of Property And Compensation For Loss TOTAL Revenues TOTAL Detail Revenues And Other Sources 257 SS2665 257 g 187 SS2701 107 O 31,998 32,421 31,998 32,421 Page 62 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (ss) SEWER Results of Operation Debt Principal, Serial Bonds Debt Principal, Bond Anticipation Notes 8,175 SS97106 8,175 SS97306 169,407 Page 63 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (ss) SEWER 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~ld Equity-End of Year 293,107 SS8021 286,857 283,107 SS8022 286,857 31,998 32,421 38,248 208,507 286,887 SS8029 110,772 Page 64 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SS) SEWER Budget Summary Estimated Revenues Est Rev- Real Property Taxes Est Rev- Departmental Income Est Rev - Use of Money And Property Appropriated Fund Balance 30,000 100 SS1049N 101,350 SS1299N 3£,421 SS2499N 50 182,085 SS599N 17,429 Page 65 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (SS) SEWER Budget Summary Appropriations App - General Government Suppod App - Home And Community Services App * Debt Service 25,500 186,685 SS1999N SS8999N SS9899N 1,000 24,500 125,750 Page 66 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (TA) AGENCY Balance Sheet Cash Time Deposits Due From Other Funds 17,861,566 TA200 14,834,447 363,528 TA201 202,942 306 TA391 583 Page 67 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (TA) AGENCY E~alance Sheet Liabilities Due To Other Funds Due To Other Governments Nys Income Tax Income Executions Assoc & Union Dues Guaranty & Bid Deposits 36,838 TA630 21,388 17,607,497 TA631 14,605,901 905 TA21 711 TA23 11,463 TA24 567,996 TA30 410,682 Page 68 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 Page 69 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 Balance Sheet Page 70 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 Results of Operation Page 71 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (v) DEBT SERVICE Results of Operation Expenditures Other Notes Interest V97897 0 Additional Oescription TO dear fund balance Page 72 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (V) DEBT SERVICE Changes in Fund Equity ANALYSIS OF CHANGES IN FUND EQUITY Fund Equity * Beginning of Year Restated Fund Equity - Beg of Year DEDUCT - EXPENDITURES AND OTHER USES FLlnd Equity - EJld of Year 0 V8021 0 0 V8022 0 0 0 VSO2g Page 73 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (w) GENERAL LONG-TERM DEBT Balance Sheet Total Non-Current Govt Liabilities 40,919,372 W129 51,872,292 Page 74 OSC Municipality Code 470379000000 TOWN OF Southold Annual Update Document For the Fiscal Year Ending 2011 (W) GENERAL LONG-TERM DEBT Balance Sheet General Long Term Debt Judgments And Claims Payable W686 Compensated Absences 7,544,372 W687 7,487,292 Bonds Payable 33,375,000 W628 44,385,000 5~;872~292 Page 75 OSC Municipality Code 470379000000 TOWN OF Southold Financial Comments For the Fiscal Year Ending 2011 Page 76 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit ~~Not__e No. 2008000002 Month and Year of Issue purpose of Issue EDPCODEI Amoun~ ilssued During the Fiscal Year (do not include renewals here) 9/5/200(: ax Receiver Software Current Interest Rate .022(: Outstanding Beginning of Year _~P18761 55,00(: ?rior Year Adjustment _;P18763 ~Paid During the Fiscal Ye_a~r (do not include renewals here) Outstanding End of the Fiscal Year Final M at~ ri2y~ B o__r~ d _An_ticipatio n~N_o~e_N~o. 2008000003 Month and Year of Issue Purpose of Issue 'Current interest Rate 0ut~stan~ding Beginning of Year_ ......................... iPrior Year Adjustment [Issued During the Fiscal Year iPaid During the Fiscal Year 2P18765 L ........ _5 _5,00,~! 2P18767 0 9151201% EDPCODE] Amo~n~ Iolid Waste Equipmen~ 0 ?P18765 /i 150,000 165,000 (da not include renewals here) IOutstanding End of the Fiscal Year 'Final Maturity Date 12P18767 I[ 9/5/20'i ~l iBond Anticipation Note No. 2008000~06~ LMonth and Year of Issue !Purpose of Issue !Current Interest Rate Outstanding Beginning of Year Prior Year Adjustment :Issued During the Fiscal Year Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year iFinal Matu(i!~a!e EDPCODE Amoun~ 12/16/2008i ck Park District Sports] 2P18761 50,000 2P18768I 6~ 2P18765 50,000 9/5/2013 Page 77 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit iBond Anticipation Note No. 2007000004 :f Issue [Current Interest Rate IOutstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal 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 LBOnd Anticipation Not~ Nol 200300000~ IMonth and Year of Issue IPurpose of Issue Current Interest Rate Outstanding Beg. i.nning of Year Prior Year Adjustment ssued During the Fiscal Year (To n~ r~h-e r e) IPaid During the Fiscal Year (do not include renewals here) ]P18761 _~P18763 ]P18767 9/7/201; --DPCODE Amoun 9/12/200: New London Termin EDPCODE Amoun~ he Sea Road ImproveJ .039.~ 14,00( ]P18761 ]P18763 ]P18765 2P18767 Outstanding End of the Fiscal Year Final Maturity Date L Bond Anticipation Note No. 2011000003 [EDPCODE Month and Year of Issue Purpose of Issue Current Interest Rate .008~ Outstandin,g' Begin_n_i_ng of Year Prior Year Adjustment Issued During the Fiscal Year 750,00( 100,00( 650,00( 9/12/200( 4/14/2011 Management Systerr .008.c ]P18761 8763 180,00{ 2P18765 II ~2~2P18767 ! (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Maturity Date Page 78 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit [Bond ,Anticipation Note No. 2011000002 -ZE)P~OD~[ IMonth and Year of Issue Amoun , 6/3/2011 Space Preservatior Purpose of Issue~ Current Interest Rate .008.~ Outstanding Beginning of Year 2P18761 Prior Year Adjustment ~al Year L (do not include renewals here) 2P18763 900,00( Paid D_u_ring the Fiscal Year (do not include renewals here) 2P18765 Outstanding End of the Fiscal Year iFinal Maturit~Dat% .................. Bond Anticipation Net~ N~. 2011000001 Month and Year of Issue iPurpose oflssue e~n~t. Interest Rate tanding Beginning of Year Prior Year Adjustment ilssued During the Fiscal Year ' (do not include renewals here) Paid During the Fiscal Year (do not include renewals here) 2P18763 2P18767 900,0001 ............. 4/12/2012: EDPCODE Amoun 9/1/201' Payloader/Skidstee .007z 2P18761 250,00( 2P18765 250,00( 8/31/2016i 2P18767 iEDPCODE Amount LOutstanding End of the Fiscal Year iFinal Maturity Date Bond Anticipation Note No. 2010000002 Month and Year of Issue 9/2/2010 Purpose 0f'l~sue i --Fi Re'%l~ 8, Drai~g~ iCurrent Interest Rate .0074 iOutstand~ng Beginning of Year 2P18761 1,400,000 Prior Year ~;(~n~ I (do not include renewals here) 2P18763 ~Paid During the Fiscal Year I : [ (do not include renewals here) 2P18765 ~ 1,318,000 [Out~sta~ o~ca~-ear 2P18767 I 8-~,~0~ Final Maturity Date 9/2/2013 Page 79 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2007000005 =_DPCODEf Amoun~ 9/7/2007 Month and Year of Issue of Issue the Sea Road ~Purpose Improve .0074 ~_P18761 21,00£ Current Interest Rate Prior Year Adjustment Ilssued During the Fiscal Year I (do not include renewals here) ~P18763 Paid During the Fiscal Year i (do not include renewals here) _~P18765 3,000i 'Outstanding End of the Fiscal Year _~P18767 18,000~ ~Final Maturity Date 9/7/2017~ .8.ond., Antic, i.p. ation .N. ote No. 2010000001 iMonth and Year of Issue IPurpose of Issue ;Current Interest Rate Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) 2P18761 :)P18763 =_DPcoDE Amoun 9/2/20i(: :om Wastewater Plan .007,~ 700,00( 2' 60,000i iPaid ,Duri .n.g th.~ Fiscal Year [ (do not include renewals here) ........... 2P18765 IQutstanding End of the Fiscal Year 2P18767 LFinal Maturity Date ]Bond Anticipation Note No. 2008000004 EDPCODE Amoun~ ;Month and Year of Issue 9~5/200~J Purpose of Issue ................ Current Interest Rate .0074i Outstanding Beginning of Year 2P18761 280,000 Prior Year Adjustment Issued During the Fiscal Year i (do not include renewals here) 2P18763 Paid During the Fiscal Year ii · i (do not include renewals here) P~765 100,00( ;Outstanding End of the Fiscal Year 12_.P~1~767 Final Mat~ r!~E)a~e ! 9/5/201: Page 80 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit Bond Anticipation Note No. 2007000006 Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Prior Year Adjustment ilssued During the Fiscal Year .~P18763 (do not include renewals here) LPaid During the Fiscal Year iOutstanding End of the Fiscal Year bFinal Maturity Date LBond Anticipation Note No. 200800000~ Month and Year of Issue Purpose of Issue Current Interest Rate Outstanding Beginning of Year Prior Year Adjustment ssued Durinq the Fiscal Year (¢o not include renewals here) :aid During the Fiscal Year (do not include renewals here) ?utstan_d!n_g_.End of the Fiscal Year :inal Maturity Date --DPCODE Amounl 9/7/2007 Animal Shelte~ .039." _~P18761 2,389,00£ ZP18765 ZP18767 _ 2,389!0¢( £ 9/7/2016 EDPCODE Amoun~ 4/18/2006 ..... Highway ~ump Truc~ .O08E _~P18761 7_5,00(: _~p~87~~ .......... ~_P 18765 27,000~ ?P18767 48,000 Bond Anticipation Note No. 2008000008 [EDPCOD~ Month and Year of Issue ...... Purpose of Issue [ Current Interest Rate iOutstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid Durinq the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Amoun_ 4/18/2008! Jn ~ail i~eement~ .0089 [2P18763 12P18765 55,000, 30,00~ Final Maturity _Dat~ __ I = ~/2013~ Page 81 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit iBond Anticipation Note No. 2007000003 ___ --_DPCODE Amounl iMonth and Year of Issue 4~20~2007 Purpose of Issue .... Cent~ Im~p.r~v~ments Current Interest Rate .0089 Outstanding Beginning of Year _~P18761 114,00(3 Prior Year Adjustment jC Issued During the Fiscal Year i~(do not include renewals here) .~P18763 (3 a~'~n~ t'he Fis-"~al ~r ...... ! (do not include renewals.here) .~P18765 60,000 ~767 S4,oo0' 4/20/2012 Amounl 6,218,000 Outstanding End of the Fiscal Year Final Maturity Date ~Bond Anticipation Note IOut~ ~g of-' Paid During ~ 3utstanding Beginning of Year iOutstanding End of Year 0 1,330,(300 4,556,000 2,992,000 *** Bond Anticipation Notes Redeemed From Bond Proceeds During Fiscal Year ]2P~g885 ~E 3,572,688 Page 82 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit ]~3ond No. 2000000014 EDPCODE Amouel Vlonth and Year of Issue 2/15/1996 ~urpose of Issue Landfill Closure - EFC 3urrent Interest Rate 3.9006 iOutstandin9 Beginning of Year ~_P18771 75,006 ~rior Year Adjustment £ ssued During the Fiscal Year (do not include renewals here) ]P18773 ~aid During the Fiscal Year (do not include renewals here) :~P18775 !I 15,006 ~Out_s. tanding End of the Fiscal Year ]P18777 60,00(: !F~n~n a I~t ~7 ~ 12/15/2014 Bond No. 2008000009 iMonth and Year of Issue LPurpose of Issue ICurrent Interest Rate Outstanding Beginning of Year Prior Year Adjustment Iss_ ued During the Fiscal 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 Bond No. 2004000008 Month and Year of Issue EDPCODE ious Purposes -- 200& 4.0000~ 8,200,00( -~P18773 2P1877~ 325,00C 2P1877.7_ 5/15/203C EDPCODE Amoun 7/22/200z Purpose oflssue Current Interest Rate ~Landfill Closure-EFC 1.201( 2P18771 2,355,00( 2P18773 2P18775 270,000 2P18777 2,o85,00ol 2/15/201~ ~Outstanding Beginning of Year iPrior Year Adjustment ilss_ued During the Fiscal Yea~ (do not includ~e~ewa~s h~re) Paid During the Fiscal Year ] (do not include renewals here) Iou Ea f ear 'FIna~ Matu_nty Dat~ Page 83 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit IB~d NO. 2005000004 IMonth and Year of Issue LPurpose of Issue FCurrent Interest Rate 10t~'standing Beginning of Year 2P18771 Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) 2P18773 Paid During the Fiscal Year (do not include renewals here) ?P18775 ~)utstanding E~(~-~)'~ t~'iscal Yea~ 2Pi 8777 ~i~a! M~tur!!¥ Date --DPCODEI Amount~ 2/8/2005I efunding Serial BondsI 2.500( 845,00( 255,00( 590,00( 2/15/201 .~ Bond N o. 2011000004 ....... iEDP~J .......... ~n~ Month and Year of Issue 6/26/2011 iPurpose of Issue !~u~n{ i~rest Ra(~ Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year (do not include renewals here) Paid During the Fiscal Year c Improvement Bond., 2.000( 2P18771 2P18773 13,175,00( 2P18775 2__P1877~ 1~; 175_,00(~ 8/15/2030 iEDPCODEf Amount (do not include renewals here) CF~OUtstanding End of the Fiscal Year !~u~ity. D~t~ ~Bond No. ~0d8o00o03 ~Month and Year of Issue Purp0~e o~ i~sue ...... New London TerminalJ Current Interest Rate i~171~ ~ i '0_3~5] Outstanding Beginning of Year Prior Year Adjustment Issued During the Fiscal Year 2P18771 2,075,000] __ I 2P18773 0! 2P18775 175,000 1,900,0001 ...... ~1/2021 2P18777 ; (do n~!r~cl~d%[~n~w~!sh~re) :Paid During the Fiscal Year (do not include renewals here) Outstanding End of the Fiscal Year Final Matu ri~.~t~ ~. Page 84 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit Bond No. 2009000003 Month and Year of Issue ~r~gse oflssue 3urrent Interest Rate Dutstanding Beginning of Year ~rior Year Adjustment Issued During the Fiscal Year L (d~oo not nclude renewa s here~ IPaid During the Fiscal Year I (do npt include renewal? here) ~Outstanding End of the Fiscal Year !Final Maturity Date ~Bond No. 2009000002 iMonth and Year of Issue [Pu[pose of '~U~ Current Interest Rate EDPCODE Refunding Bonds~ _~P18771 1,915,00! -)P18773 ?P18775I 230,000] 2P1 ~;~-~-' ![ 5/1/201~ 'Prior Year Adjustment Issued During the Fiscal Year ~DPCODE Amouni 3/15/2009~ ..... ~)~'i~u s'Furposes~ Outstanding Beginning of Year 2P18771 2P18773 Paid During the Fiscal Year 5,160,000l (do not include renewals here) 2P18775 Outstanding End of the Fiscal Year 2P18777 Final Maturity Date Bond No. 2000000002 Month and Year of Issue 3/15/203~ E6 CODEF moun [ II 2/15/199i 1 L...... Var)ous~ - L .... , Purpose of Issue Current interest Rate Outstanding Beginning of Year Prior Year Adjustment :Issued During the Fiscal Year I (do ng~,(n~l~d~ r~n~w~l~ b~r~' j2P18773 iPaid During the Fiscal Year IL L (do not include renewals here) [2P18775 I 100,0001 jOutstanding End of the Fiscal Year [2~1~77~ ~inal Mat~r!ty~ ................... ! Jj 2/ 15/20111 Page 85 OSC Municipality Code 470379000000 TOWN OF Southold Statement of Indebtedness For the Fiscal Year Ending 2011 Indebtedness Not Exempt From Constitutional Debt Limit 3ond No. 2007000001 =DPCODE Amoun' Vlonth and Year of Issue 4/15/2007 ~u~pose~of I=.=.s_sue c Improvement Bond., 3urrent Interest Rate 4.000(: Dutstanding Beginning of Year ]P18771 12,650,00(: ~rior Year Adjustment ssued During the Fiscal Year (do not include renewals here) ii ~2_P1_87_7_3_ Paid ~)~ ! I i0utstanding End of the Fiscal Year ]P18777 12,075,000 Final Matu[!ty D~t? .... 47~/~030 : I lT°ta! B°n~2 i ~ 117111 Ii Am°unt~ iOutstandln" g Beglnnl--n9 of Year I - - ~,375,000~ Prior Year Adjustment I 0 i~u~d Durin~ Fiscal V~aa~: ......... 'L ..................13,17~ ~During. F.(¢~ Year ........ i .......... ~1,16~ Outstanding End of Year I 44,385,000 Total of All Indebtedness Includes Total of Bonds and Notes - Exempt and Not Exempt Total Bond Amoun [Outstanding Beginning of Year L ] 39,593,00( Prior Year Adjustment I ilssued unng F~scal Year iPaid During Fiscal Year I -~ :7-21,00( Outstanding End of Year ! ] 47,377,00( Page 86 OSC Municipality Code 470379000000 TOWN OF Southold Maturity Schedule For the Fiscal Year Ending 2011 For Bonds Issued During The Fiscal Year Ended 2011 Indebtedness No. Purpose of Issue Fo~.LState Comptroller Use Only [Total ~ EDPCODE1 J2011000004 2011 Public Improvement Bonds 2P3CE 2P3PR 13,175,000_ 6/26/2011 2P3DT ~ !Interest Rate 2P3PC 2.00000 Final Maturity Date 2P3DM ...... 8/15/2030 Amount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last Twa Digits ofthe EDP Code Correspondtothe Fiscal YearEnded) 2P312 2P313 2P314 2P315 2P316 2P317 2P318 2P319 2P320 2P321 2P322 2P323 2P324 2P325 2P326 2P327 2P328 2P329 2P330 525,000 580,000 595,000 600,000 625,000 640,000 650,000 6~00 675,000 700,000 720,000 740,000 750,000 780,000 735,000 760,000 785,000 810,000 840,000 Page 87 OSC Municipality 470379000000 TOWN OF Southold Schedule of Time Deposits and Investments For the Fiscal Year Ending 2011 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 9Z2001 9Z2011 9Z2021 9Z2014 9Z2014A Amount $2,147.00 $25,086,058.00 $15,714,965.00 $43,803,170.00 $7,824,033.00 $60,027,780.00 $67,851,813.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 INVESTMENTS: 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 held in possession of municipality or its agent 9Z4511 9Z4512 9Z4514A Page 88 OSC Municipality Code 470379000000 TOWN OF Southold Bank Reconciliation For the Fiscal Year Ending 2011 Include All Checking, Savings and C.D. Accounts Bank Account Bank Number Balance ..... -0320 $128,829 ..... -9677 $177,428 ..... -1052 $15,819 ..... -0040 $118,355 ..... -5725 $2,337,726 ..... -89-1 $48,567 ..... -5647 $13,177 ..... -5466 $250,916 ..... -5704 $11,048 ..... -5362 $23,980 ..... -4440 $20,195 ..... -5688 $27 ..... -9669 $3,400,000 ..... -9685 $537,888 ..... -89-2 $5,180 ..... -9707 $794,995 ..... -89-4 $1,147 ..... -9774 $2,006 ..... -9790 $13,296 ..... -9820 $320,405 ..... -9863 $186,957 ..... -9871 $35,953 ..... -9893 $4,396 ..... -9782 $3,036,807 ..... -3119 $7,377,040 ..... -9804 $81,969 ..... -6352 $113,834 ..... -9847 $1,551,360 ..... -9715 $22,790 ..... -9-11 $1,008 Add: Less: Deposit Outstanding In Transit Checks $0 $0 $0 $0 $0 $15,816 $0 $118,349 $0 $0 $0 $13,727 $0 $54 $1,120 $1 $0 $0 $0 Adjusted Bank Balance $128,829 $177,428 $3 $7 $2,337,~26 $0 $48,567 $0 $13,177 $7,57O $257,O72 $500 $10,548 $0 $24,034 $0 $21,315 $0 $28 $0 $3,4.00,000 $0 $537,888 $0 $5,180 $0 $0 $0 $0 $0 $0 $0 $0 $794,995 $0 $1,147 $0 $2,006 $0 $13,296 $0 $320,405 $0 $186,957 $0 $35,953 $0 $0 $0 $0 $0 $0 $0 $113,815 $0 $0 $0 $0 $0 $4,396 $0 $3,036,807 $0 $7,377,040 $81,969 $19 $1,551,360 $22,790 $1,008 Page 89 OSC Municipality Code 470379000000 TOWN OF Southold Bank Reconciliation For the Fiscal Year Ending 2011 Include All Checking, Savings and C.D. Accounts Bank Account Number ..... -8067 ..... -7759 Add: Less: Bank Deposit Outstanding Balance In Transit Checks $754,075 $0 $0 $29,777 $16,001 $0 ..... -5021 $24,379 $0 ..... -0217 $1,594 ..... -89-5 $367 ..... -3841 $2 ..... -OMB1 $1,475 ..... -OMD2 $5,072 ..... -NPD1 $4,913 ..... -NPD2 $118,310 ..... -MPD1 $6,624 ..... -MPD2 $1,001 ..... -SPD1 $8,295 ..... -SPD2 $50,732 ..... -MPD1 $1,930 ..... -MPD2 $337,953 ..... -43-1 $126,777 $0 Adjusted Bank Balance $754,075 $45,778 ' $24,373 $6 $1,594 $0 $0 $0 $367 $0 $0 $2 $0 $0 $1,475 $0 $0 $5,072 $0 $2,067 $2,846 $0 $0 $118,310 $0 $0 $6,624 $0 $0 $1,001 $0 $837 $7,458 $0 $0 $50,732 $0 $1,048 $882 $0 $0 $337,953 $0 $0 $126,777 ..... -IWM1 $35,219 ..... -IWM2 $896,103 ..... -IWM3 $4,768 ..... -9723 $251,751 ..... -9731 $80,283 ..... -89-6 $766 ..... -9758 $22,583 ..... -9-13 $901 ..... -0099 $49,506 ..... -9766 $194,451 ..... -0404 $8,491 ..... -5354 $27,097 ..... -2319 $205 $4,486 $20,867 $18,838 $0 $0 $896,103 $250 $0 $5,018 $0 $0 $251,751 $0 $0 $80,283 $0 $0 $766 $0 $0 $22,583 $0 $0 $901 $0 $0 $49,506 $0 $0 $194,451 $0 $0 $8,491 $0 $634 $26,463 $0 $0 $2O5 Page 90 OSC Municipality Code 470379000000 TOWN OF Southold Bank Reconciliation For the Fiscal Year Ending 2011 Include All Checking, Savings and C.D. Accounts Bank Account Bank Number Balance ..... -4432 $160,943 ..... -5628 $6,199 ..... -4230 $646,208 ..... -0536 $1,390,737 ..... -9680 $10,009,100 ..... -4430 $8,199,270 ..... -0081 $54 $1 ..... -0024 Add: Deposit In Transit $0 Outstanding Checks $0 $8,316 $0 $9,776 $0 $0 $0 $0 $0 $0 Total Adjusted Bank Balance Betty Cash Adjustments Total Cash Total Cash Balance AIl Funds * Must be equal Adjusted Bank Balance $152,627 ($3,577) $646,208 $1,390,737 9ZCASH 9ZCASHB $197 $10,008,903 $0 $8,199,270 $0 $54 $0 $1 $43,800,889 $2,283.40 $-1.32 $43,803,171 $43,803,171 Page 91 OSC Municipality Code 470379000000 TOWN OF Southold Local Government Questionnaire For the Fiscal Year Ending 2011 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 MBs MBs MBs MBs No MBs No MBs Page 92 TOWN OF Southold Employee and Retiree Benefits For the Fiscal Year Ending 2011 I Total Full Time Employees: J 23~ ' Total Part Time Employees:l 2~ Account Description Total # of Full # of Part # of Retirees Code Expenditures Time Time (All Funds) Employees Employees 90108 State Retirement System $1,702,257.00 183~ 90158 Police and Fire Retirement $1,222,530.80 49 90258 Local Pension Fund 90308 Social Security $1,336,480.9~ 238 25! 90408 Worker's Compensation ~4527.055.4cj~ 238 21; 9045l Life Insurance 9050 Unemployment Insurance $33.908.19 1 9060~ Hospital and Medical $6.020,680.63 216 10~ (Dental) Insurance 9070~ Union Welfare Benefits $368.750 8~c 209 9085~ Supplemental Benefit Payment to' Disabled Fire Fighters 9189£ Other Employee Benefits I $51,945.64 21~ 131 Total $11,197,284:7~ Computed Total Prom Financial Section (comparative purposes only) II $11,t97,284.11 Page 93 OSC Municipality 470379000000 TOWN OF Southold Energy Costs and Consumption For the Fiscal Year Ending 2011 Energy Type Total Expenditures Total Volume !Gasoline Units Of Alternative Measure Units Of Measure gallons r~ Diesel Fuel Natural Gas Electricity Coal $31,737~ ~2:~2I cubic feet ~Therms kilowatts Page 94 OSC Municipality 470379000000 TOWN OF Southold Schedule of Other Post Employment Benefits (OPEB) For the Fiscal Year Ending 2011 Annual OPEB Cost and Net OPEB Obligation 1 Type of Other Post Employment Benefits Plan 2. Annual Required Contdbution(ARC) 3. Interest on Net OPEB Obligation 4. Adjustment to Annual Required Contribution 5. Annual OPEB Expense 6 Less: Actual Contribution Made 7. Increase in Net OPEB Obligation 6 Net OPEB Obligation - beginning of year 9. Net OPEB Obligation - end of year 10, Total Other Post Employment Benefits as reported in Accounts 683 in Financial Section, Current Fiscal Year 11 Percentage of Annual OPEB Cost Contributed (Actual Contribution Made/Annual OPEB Cost) Funded Status and Funding Process 12. Actuarial Accrued Liability(AAL) 13. Less: Actuarial Value of Plan Assets 14 Unlunded Actuarial Accrued Liabildy(UAAL) 15. Funded Ratio(Actuarial Value of Plan Assets/AAL) 16. Annual Covered Payroll (of active employees covered by the plan) 17. UAAL as Percentage of Annual Covered Payroll Other OPEB Information 18 Date of most recent actuarial valuation 19. Actuarial method used 20. Assumed rate of return on investments discount rate 21. Amortization period of UAAL(in years) Agent Multiple Employer Defined Benefits $6,779,112.00 $347,749.00 ($502,758.00) $6,624,103.00 $1,635,730.00 $4,988,373.00 $8,693,713.00 $13,682,086.00 2469% $66,597,846.00 $0.00 $66,597,848.00 0.0000 $15,492,700.00 429.57% 01/01/2010 Entry Age 4.00% 30.00 Page 95 OSC Municipality 470379000000 CERTIFICATION OF CHIEF FISCAL OFFICER I, Scott Russell , hereby certify that I am the Chief Fiscal Officer of the Town of Southold , and that the information provided in the annual financial report of the Town of Southold , for the fiscal year ended 12/31/2011 , is TRUE and correct to the best of my knowledge and belief. By entering the personal indentification number assigned by the Office of the State Comptroller to me as the Chief Fiscal Officer of the Town of Southold , and adopted by me as my signature for use in conjunction with the filing of the Town of Southold's annual financial report, I am evidencing my express intent to authenticate my certification of the Town of Southold's annual financial report for the fiscal year ended 12/31/2011 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 04/25/2012 Date of Certification PO Box 1179, Southold~ NY 11971 Official Address (631) 765-1889 Official Telephone Number Page 96 Municipality Code 470379000000 TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2011 A, Summary of SiRnificant Accountin.q Policies AP 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 $OUTHOLD Notes To Financial Statements December 31, 2011 A. Summary of Si.qnificant Accounting Policies (continued) 1. Financial Reportin_cl Entity (continued) The Fishers Island Ferry District, established in 1947 Orient Mosquito District, established in 1916 Fishers Island Waste Management 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 Waste Management 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 AccountinR 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, 2011 A. Summary of Si.qnificant Accounting Policies (continued) 2. Fund Accountin.q (continued) Fund Categories Governmental Funds Governmental funds are those through which most governmental functions are financed. The acquisition, use and balance of expendable financial resources and the related liabilities are accounted for through governmental funds. The measurement focus of the governmental funds is upon determination of financial position and changes in financial position. The following are the Town's governmental fund types. General Fund - the principal operating fund which includes all operations not required to be recorded in other funds. Special Revenue Funds - used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specific purposes. The following Special Revenue Funds are utilized: 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 Proiects Fund - used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by special assessment funds and trust funds), Fiduciary Funds - used to account for assets held by the local government in a trustee or custodial capacity: Trust and 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 $OUTHOLD Notes To Financial Statements December 31,2011 A. Summary of Si.qnificant 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 reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus. Measurement focus is the determination of what is measured, i.e. expenditures or expenses. Modified Accrual Basis - All governmental Funds and Expendable Trust Funds are accounted for using the modified accrual basis of accounting. Under this basis of accounting, revenues are recorded when measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Material revenues that are accrued include real property taxes, state and federal aid, sales tax and certain user charges. If expenditures are the prime factor for determining eligibility, revenues from federal and state grants are accrued when the expenditure is made. Expenditures are recorded when incurred except that: Expenditures for prepaid expenses and inventory-type items are recognized at the time of purchase. Principal and interest on indebtedness are not recognized as an expenditure until due. Compensated absences, such as vacations and sick leave, which vests or accumulates, are charged as an expenditure when paid Account Groups - General fixed assets are recorded at actual or estimated cost or, in the case of gifts and contributions, at the fair market value at the time received. No provision for depreciation is made. General long-term debt liabilities are recorded at the par value of the principal amount. No liability is recorded for interest payable at maturity. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2011 A. Summary of Si.qnificant Accountin.q Policies (continued) 4. Fund Balances For fiscal 2011, the Town implemented Governmental Accounting Standards Board Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions (GASB 54). GASB 54 changed the classification of fund balance to focus on the constraints imposed on resources in governmental funds, instead of the previous focus on availability for appropriation. Fund balance is now broken down into five different classifications: nonspendable, restricted, committed, assigned, and unassigned. Nonspendable consists of assets that are inherently nonspendable in the current period either because of their form or because they must be maintained intact, including prepaid items, inventories, long-term portions of loans receivable, financial assets held for resale, and principal of endowments. Restricted consists of amounts that are subject to externally enforceable legal purpose restrictions imposed by creditors, grantors, contributors, or laws and regulations of other governments; or through constitutional provisions or enabling legislation. Committed consists of amounts that are subject to a purpose constraint imposed by a formal action of the government's highest level of decision-making authority before the end of the fiscal year, and that require the same level of formal action to remove the constraint. The Town Board is the decision-making authority that can, by Local Law, commit fund balance. Assigned consists of amounts that are subject to a purpose constraint that represents an intended use established by the government's highest level of decision-making authority, or by their designated body or official. The purpose of the assignment must be narrower than the purpose of the general fund, and in funds other than the general fund, assigned fund balance represents the residual amount of fund balance. The Town Board has sole authority to assign fund balance. Unassigned represents the residual classification for the government's general fund, and could report a surplus or deficit. In funds other than the general fund, the unassigned classification should be used only to report a deficit balance resulting from overspending for specific purposes for which amounts had been restricted, committed, or assigned. When resources are available from multiple classifications, the Town spends funds in the following order: restricted, committed, assigned, unassigned. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2011 A. Summary of Si.qnificant Accountin.cI Policies (continued) 4. Fund Balances (continued) The Town has, by resolution, adopted a fund balance policy that states the Town must maintain a minimum unrestricted (the total of committed, assigned, and unassigned) fund balance of at least 10% percent of the general fund operating budget. Unrestricted fund balance below the minimum should be replenished within the succeeding fiscal year. 5. 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. 6. 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. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2011 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. Long-Term Obli.qations Long-term debt is recognized as a liability of a governmental fund when due. For other long-term obligations, only that portion expected to be financed from expendable available financial resources is reported as a fund liability of a governmental fund. The remaining portion of such obligations is reported in the General Long-Term Debt Account Group. Fund Equity - Reservations and Designations Portions of fund equity are segregated for future use and therefore not available for future appropriation or expenditure. Amounts reserved for encumbrances, inventory, and insurance claims, represent portions of fund equity which are required to be segregated in accordance with State law or GAAP. Designations of fund balances in governmental funds indicate the utilization of these resources in the subsequent year's budget or tentative plans for future use. 7. 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 31,2011 A. Summa~ of Significant Accounting Policies (continued) 7. Revenue and Expenditures (continued) Interfund Revenues Interfund revenues are quasi-external transactions in the operating funds that represent amounts charged for services or facilities provided by that operating fund. The amounts paid by the fund receiving the benefits of the service or facilities are reflected as an expenditure of that fund. 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 31,2011 B. Stewardship~ Compliance, Accountability Budgetary Data 1. BudRet Basis of Accounting 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. Bud.qet Policies - The budget policies are as follows: a. No later than October 1, the Supervisor submits a tentative budget to the Town Board for the fiscal year commencing the following fiscal year. The tentative budget includes the proposed means of financing for all funds. b. After public hearings are conducted to obtain taxpayer comments, no later than November 20, the Town Board adopts the budget. c. The Town Board must approve all modifications of the budget. However, the Supervisor is authorized to transfer certain budgeted amounts within departments. 3. Material Violations of Finance Related Activities There are no material violations of finance-related provisions. TOWN OF $OUTHOLD Notes To Financial Statements December 31,2011 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 31,2011 is allocated as follows: General Fund (Town wide) $ 8,045,346 Special Revenue Funds General Fund Part Town 694,162 Highway Fund -- Part Town 923,824 Special District Funds Orient by the Sea Road Improvement District 2,006 East-West Fire Protection 10,662 Southold Wastewater Disposal 81,069 Fishers Island Sewer 29,702 Solid Waste Management 415,368 Discretely Presented Component Units Fishers Island Waste Management 916,017 Fishers Island Ferry 706,019 Cutchogue-New Suffolk Park 121,156 Southold Park 43,206 Orient-East Marion Park 7,625 Mattituck Park 458,328 Orient Mosquito 6,633 Total $12,461,123 Deficit Fund Balances There were no deficit fund balances at December 31,2011. The fund 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. 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 US. Treasury obligations and repurchase agreements relating to treasury obligations. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2011 C. Detail Notes on all Funds and Account Groups (continued) 1. Assets (continued) The written investment policy requires that repurchase agreements be purchased from banks located within the state and that underlying securities must be obligations of the federal government. Underlying securities must have a market value of at least 102 percent of the cost of the repurchase agreement. Collateral is required for demand deposits and certificates of deposit at 102 percent of all deposits not covered by federal deposit insurance. Obligations that may be pledged as collateral are obligations of the United States and its agencies and obligations of the state and its municipalities and school districts. Deposits - All deposits, including certificates of deposits, are carried at cost plus accrued interest. Deposits at year-end were entirely covered by federal depository insurance or by collateral held by the Town's custodial banks in the Town's name. At December 31, 2011 the cash in banks was $43,801,023 and collateral held against cash in banks was $67,851,813 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 31,2011 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 31,2011 is as follows: Primary Government: Land Buildings & Improvements Other Improvements Construction in Progress Infrastructure Machinery & Equipment Total Balance Balance 01/01/2011 Additions Deletions 12/31/2011 $105,350,391 $8,900,791 $114,251,182 12,759,941 10,890 12,770,831 15,410,764 290,528 15,701,292 1,337,090 418,786 $ 232,816 1,523,060 73,594,619 1,780,731 75,375,350 11,228,745 668,306 390,570 11,506,481 $219.681.550 $12,070,052 $ 62~386 $231.128.196 Balance Balance 01/01/2011 Additions Deletions 12/31/2011 Component Units: Land $2,193,349 $2,193,349 Buildings & Improvements 14,118,159 $ 7,900 14,126,059 Other Improvements 2,445,238 13,000 2,458,238 Construction in Progress 92,382 8,375 $ 92,382 8,375 Infrastructure 2,804,420 95,020 2,899,440 Machinery & Equipment 3,518,313 12,474 3,530,787 Total $25.171.861 $ 136.769 $ 92.382 $25.216.24~88 3. Interfund Receivables and Payables Interfund receivables and payables for the primary government at December 31, 2011 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 Interfund Interfund Receivables Payables $ 511,287 $ 2,342,782 148,854 12,533 828,341 4,000 128,269 497,310 17,508 6,300 229,605 12,474 583 211334 $ 2.380.590 $ 2.380.590 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2011 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 Waste Management District $ 90,915 Fishers Island Ferry District 129,464 Orient Mosquito District 13,804 Cutchogue-New Suffolk Park District 22,431 Southold Park District 54,352 Orient-East Marion Park District 6,764 Mattituck Park District 69,857 Primary Government General Fund Trust and Agency $ 387,533 54 Totals $ 387,587 $ 387.587 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 long-term obligations within five years after the original issue date. However, BAN's issued for assessable improvement projects may be renewed for periods equivalent to the maximum life of the permanent financing, provided that stipulated annual reductions of principal are made. To Be Redeemed 2012 Interest Budget Description Amount Rate Appropriations Bonds Various Purposes $ 307,000 .89% $ 142,000 $ 165,000 Various Purposes 1,135,000 .74% 444,000 691,000 Various Purposes 1,550,000 .85% 100,000 1,450,000 Total $ 2.992.000 $ 686,000 $ 2.306,000 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2011 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) Long-Term Debt a) At December 31,2011 the total outstanding indebtedness of the Town, excluding the above obligations aggregated $44,385,000. Of this amount, $41,730,000 was subject to the constitutional debt limit and, combined with the short-term debt listed above, represented 6% of its debt limit. b) Serial Bonds - The Town borrows money in order to acquire land or equipment or construct buildings and improvements. This enables the cost of these capital assets to be borne by the present and future taxpayers receiving the benefit of the capital assets. These long-term liabilities, which are full faith and credit debt of the local government, are recorded in the General Long-Term Debt Account Group. The provision to be made in future budgets for capital indebtedness represents the amount exclusive of interest, authorized to be collected in future years from taxpayers and others for liquidation of the long-term liabilities. c) Other Lonq-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 Department 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- T he following is a summary of long-term liabilities outstanding at December 31, 2011 by fund type and account group: Liability Serial Bonds Compensated Absences General Discretely Long Term Debt Presented Account Group Component Unit Total $ 42,485,000 $ 1,900,000 $ 44,385,000 7,487,292 7,487,292 Total Long-Term Debt Account Group $ 49,972,292 $ 1.900.000 $ 51.872.29~2 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2011 C. Detail Notes on all Funds and Account Groups (continued) 5. Indebtedness (continued) LonR-Term Debt (continued) e) The following is a summary of changes in the long-term liabilities for the period ended December 31,2011: Bonds and Compensated Notes Absences Payable at beginning of Year $ 33,375,000 $ 7,544,372 Additions 13,175,000 Deletions 2,165,000 57,080 Payable at end of Year $ 44.385.000 $ 7.487.292 Additions and deletions to compensated absences are shown net since it is impracticable to determine these amounts separately. The following table summarizes the Town's future debt service requirements for Serial Bonds as of December 31,2011: Year Endinq Principal Interest 2012 2,655,000 1,668,641 2013 2,545,000 1,534,693 2014 2,575,000 1,453,827 2015 2,600,000 1,369,587 2016 2,560,000 1,284,704 2017-2021 12,070,000 5,049,068 2022-2026 10,755,000 2,927,269 2027-2030 8,625,000 791,728 Totals $44.38~000 $16.079,517 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, 2011 C. Detail Notes on all Funds and Account Groups (continued) 6. Retirement System (continued) The Town of Southold participates in the New York State and Local Employees' Retirement System (ERS), the New York State and Local Police and Fire Retirement System (PFRS) and the Public Employees' Group Life Insurance Plan (Systems). These are cost-sharing multiple-employer retirement systems. The Systems provide retirement benefits as well as death and disability benefits. Obligations of employers and employees to contribute and benefits to employees are governed by the New York State Retirement and Social Security Law (NYSRSSL). 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 transaction of the business of the Systems and for the custody and control of their funds. The Systems issue a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained by writing to the New York State and Local Retirement Systems, 110 State Street, Albany, NY 12244. Fundinq Policy The Systems are noncontributory except for employees who joined the New York State and Local Employees' Retirement System after July 27, 1976, who contribute 3% of their salary for the first ten years of membership and employees who joined on or after January 1, 2010 (ERS) or January 9, 2010 (PFRS) who generally contribute 3% of their salary for the entire length of service. Under the authority of the NYSRSSL, the Comptroller annually certifies the actuarially determined rates used in computing the employers' contributions based on salaries paid during the Systems' fiscal year ending March 31. Contributions for the current year and two preceding years were equal to 100% of the contributions required, and were as follows ERS PFRS 2011 $1,827,936 $1,308,331 2010 $1,265,284 $ 957,407 2009 $ 794,550 $ 861,865 Chapter 260 of the Laws of 2004 of the State of New York was enacted that allows local employers to bond or amortize a portion of their retirement bill for up to 10 years in accordance with the following schedule: · For State fiscal year (SFY) 2004-05, the amount in excess of 7 percent of employees' covered pensionable salaries, with the first payment of those pension costs not due until the fiscal year succeeding that fiscal year in which the bonding/amortization was instituted. · For SFY 2005-06, the amount in excess of 9.5 percent of employees' covered pensionable salaries. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2011 C. Detail Notes on all Funds and Account Groups (continued) 6. Retirement System (continued) · For SFY 2007-08, the amount in excess of 10.5 percent of employees' covered pensionable salaries. This law requires participating employers to make payments on a current basis, while bonding or amortizing existing unpaid amounts relating to the System's fiscal years ending March 31, 2005 through 2008. The Town elected to make all payments on a current basis. Chapter 57 of the Laws of 2010 of the State of New York was enacted that allows local employers to amortize a portion of their retirement bill for 10 years in accordance with the following stipulations: · For State fiscal year 2010-11, the amount in excess of the graded rate of 9.5 percent of employees' covered pensionable salaries, with the first payment of those pension costs not due until the fiscal year succeeding that fiscal year in which the amortization was instituted. · For subsequent State fiscal years, the graded rate will increase or decrease by up to one percent depending on the gap between the increase or decrease in the System's average rate and the previous graded rate. · For subsequent State fiscal years in which the System's average rates are lower than the graded rates, the employer will be required to pay the graded rate. Any additional contributions made will first be used to pay off existing amortizations, and then any excess will be deposited into a reserve account and will be used to offset future increases in contribution rates. This law requires participating employers to make payments on a current basis, while amortizing existing unpaid amounts relating to the System's fiscal years when the local employer opts to participate in the program. The Town has elected to make its payments on a current basis. 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. TOWN OF SOUTHOLD Notes To Financial Statements December 31, 2011 C. Detail Notes on all Funds and Account Groups (continued) 7. Post Retirement Benefits (continued) 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, $5,863,584 was paid on behalf of 105 retirees and 205 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. 8. Compensatory Absences Town employees are granted vacation and sick leave and earn compensatory absences in varying amounts. In the event of termination or upon retirement, an employee is entitled to payment for accumulated vacation and sick leave and unused compensatory absences at various rates subject to certain maximum limitations. Estimated vacation and sick leave and compensatory absences accumulated by governmental fund type employees have been recorded in the general long-term obligations account group. Accumulated vacation and sick leave are recorded as a long-term liability in the general long-term debt account group if payable from future financial resources, or as a fund liability and expenditures if payable from current resources. D. Commitments and Contin.clencies The Town is self-insured for medical insurance and general liability insurance. The amount of medical claims outstanding at December 31,2011 is $1,289,970. The amount of general liability claims outstanding at December 31, 2011 is $6,365. 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. I. Landfill Closure and Post Closure Care Costs The Town ceased accepting waste at its Cutchogue landfill as of October 8, 1993. The Town entered into a stipulation of settlement with the New York State Department of Environmental Conservation in October of 1994 in which all charges of operational violations at the Cutchogue landfill were dropped. Under the stipulation, the Town agreed to close and place a final cover over the landfill and to pay a civil penalty of $650,000 over seven years. Construction of the final cover commenced in the summer of 2001 and was completed in the fall of 2003. TOWN OF SOUTHOLD Notes To Financial Statements December 31,2011 D. Commitments and Contin.qencies (continued) 1. Landfill Closure and Post Closure Care Costs (continued) In addition to placement of the final cover on the landfill, state and federal regulations presently require the Town to perform certain maintenance and monitoring functions at the site for up to thirty years. Actual costs associated with the placement of the final cover totaled $7,681,719. Financing for closure activities was provided through a $2,000,000 grant from the New York State Department of Environmental Conservation with the balance provided with a state subsidized loan through the New York State Environmental Facilities Corporation. Costs associated with post closure care will be covered by charges to future landfill users and future tax revenue. 2. Lease Commitments and Leased Assets The Town leases property and equipment under operating leases. Total rental expenditures on such leases for the fiscal year ended December 31, 2011 were approximately $247,410. Future obligations over the primary terms of the Town's leases as of December 31, 2011 are as follows: 2012 $ 229,742 2013 123,069 2014 95,349 2015 & thereafter 320,715 Total $ 768.875 TOWN OF SOUTHOLD Notes To Financial Statements December 31,2011 E. Condensed Financial Statements for the Discretely Presented Component Units The following represents condensed financial statements for the discretely presented component units as of and for the year ended December 31,2011 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 Equipment Debt Liabilities Liabilities Fishers Island Ferry District Fishers Island Waste Mgt District Cutchogue-New Suffolk Park Dist Southeld Park District Orient-East Marion Park District Mattituck Park District Orient Mosquito District $ 1,024,217 $ 129,410 $ 17,844,957 $ 1,900,000 $ 318,198 $ 1,900,000 1,021,898 90,915 3,545~519 205,881 143,587 22,431 145,705 22,431 112,542 54,352 1,115,215 69,336 14,389 6,764 432,985 6,764 535,519 69,857 2,100,976 77,191 20,437 13,804 30,891 13,804 $ 2~872~58~9 $ 387 53~33 $ 25 216 248 $ 1.90000~0 $ 71360~55 $1 900 00~0 Condensed Statement of Revenues, Expenditures and Changes in Fund Balances Excess (Deficiency) Expenditures of Revenues Capital Debt and Fishers island Ferry District Fishers Island Waste Mgt District Cutchogue-New Suffolk Park Dist. Southold Park District Orient-East Marion Park District Mattituck Park District Orient Mosquito District Revenues Current Outlay Se~ice Expenditures $ 3,521,861 $ 2,611,835 $ 386,419 $ 360,767 $ 162,840 568,857 519,644 49,213 130,691 83,966 33,842 12,883 349,541 300,446 15,240 33,855 36,678 32,551 2,250 1,877 477,257 272,555 28,246 50,290 126,166 80,035 74,890 5,145 $ §,1~.920 ~ 3.895.887 ~ 465.997 $ 411.057 $ 391.979 LEGAL NOTICE NOTICE IS HEREBY GIVEN that the Annual Financial Report of the Town of Southold for the Fiscal Year 2011 is on file in the Southold Town Clerk's Office, Southotd 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 26, 2012 ELIZABETH A. NEVILLE SOUTHOLD TOWN CLERK PLEASE PUBLISH ONCE ON May 3, 2012 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 Web site STATE OF NEW YORK) SS: COUNTY OF SUFFOLK) ELIZABETH A. NEVILLE, Town Clerk of the Town of Southold, New York being duly sworn, says that on the d/,, day of~tr.t..~, 2012, she affixed a notice of which 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, New York, to wit: Town Clerk's Bulletin Board, 53095 Main Road, Southold, New York. Re: 2011 Annual Financial Report Elizabeth A. Neville Southold Town Clerk Sworn before me this (.~-~, dayof ~ ,2012. #10671 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), successfully commencing on the 3rd day of May, 2012. Principal Clerk Sworn to before me this 2012. LEGAL NOTICE NOTICE IS HEREBY GIVEN thai t he Annual Financial Report of thc Town of Southold for the Fiscal Year 2011 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 Dated: April 26,2012 ELIZABETH A. NEVILLE SOUTHOLD TOWN CLERK _:-'C I VO/INSKI NOTARY PUBLIC-STATE OF NEW YORK No. O1V06105050 Quallfled In Suffolk County My CommlIllOn lxplrel Pebruory 28, 2016