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Home My WebLink About1968-1970 FIFD • 72M-43 FISHERS ISLAND FERRY DISTRICT TONN OF SOUTHOLD COUNTY OF SUFFOLK (vT-76 • Period Covered: January 19 1966 Through December 31, 1970 Report Filed - March 20, 1972 Department of Audit and Control Albany, Near York Arthur Levitt, State Comptroller David F. Carlson Examiner-in-Charge • AC 1 426(5/71 1. Fishers Island Ferry District . Town of Southold GENERAL AND STATISTICAL INFCRMATICN Principal Officers. During Period Examined Commissioner Lawrence S. Baldwin (a) " Polly Edmonds ' Alfred R. Grebe (1/1/68-7/31/69) " Richard V. Foyle " Raymond F. Doyen Stephen A. Morell (8/l/69-12/31/70) Manager-Secretary Wilfred G. Sinclair Treasurer Lester M. Albertson (1/1/68-12/31/68) " Albert Martocchia (1/1/69-12/31/70) (a) Served as Chairman STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) 2. Fishers Island Ferry District Town of Southold Governinc Laws Created November 211, 1947 pursuant to: Chapter 699, Laws of 1947 Chapter 27, Laws of 1948 Amended Bys Chapter 82, Lags of 1950 Chapter 620, Laws of 1951 Chapter 132, 169, 170, Laws of 1957 Chapter 637, Laws of 1962 Chapter 6509 Laws of 1968 Purpose To acquire, construct, equip, operate and maintain a public ferry • for the transportation for hire of persons, vehicles, goods, wares and merchandise from points within and without the station. Assessed Valuation 1970 $590749277.00 Tax Rate, 1970 $5.16 per M STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426 5/7 1) 3. Fishers Island Ferry District • Town of Southold Summary of 1970 Budget Pu pose AmountApproariated Maintenance Expenses # 54,950.00 Transportation Expenses 280730.00 Casualities 5,000.00 General Expenses 189340.00 Insurance Expenses 25,200.00 • Operating Rents 1128610.00 Non-Carrier Expenses-Airport 31110.00 Non-Carrier Expenses-Theatre 7,636.00 Taxes and Assessments 5.044.00 Total Appropriations $2629580.00 Less Estimated Revenues 236,398.00 Taxes Needed to Meet Appropriations $ 26.182.00 • STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426)5/71) a. Fishers Island Ferry District Town of Southold AUTHCRITY AND SCOPE OF EXAMINATION Authority This examination of the accounts and fiscal affairs of the Fishers Island Ferry District has been made pursuant to the authority vested in the State Comptroller by Article 3 of the General Municipal Law and the report of examination has been prepared and filed as required. Scope of Examination Accounting and other records were examined to determine compliance with statutory requirements. • The examination was made in accordance with generally accepted ouditirg standards and accordingly included tests of the accuracy of accounting records, review of internal controls and such other auditing procedures considered necessary. RESULTS OF EXAMINATION Financial Condition In our opinion the accompanying statements present fairly the results of financial operations arising from cash transactions for the year ended December 31, 1970. Source of Financing The operation of the district is financed by taxes levied on the taxable properties within the district and by fees, fares and other charges. STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) 5+ Fishers Island Ferry District Town of Southold Audit of Revenues and Receipts Moneys received by or due to the Fishers Island Ferry District were verified by the examination of the records of officers and employees of the district and the supervisor of the Town of Southold. The extent of compliance was observed with respect to statutory restrictions for the deposit, segregation and use of moneys for specific purposes, and statutory requirements for the issuance of receipts where no other evidence satisfactory for purposes of audit was available. Audit of Expenditures Disbursement Procedure Disbursements were made by checks signed by the supervisor and were supported by abstracts signed by the town clerk and by audited claims, payrolls, contracts, canceled notes, or by other supporting evidence. Claims Claims were approved by the board of commissioners and were audited by the town board. The comments which follow are based upon examination of the claims for legality and validity. Compensation for Personal Services Payrolls were certified by the town supervisor and by the Suffolk County Civil Service Commission. Hoard of Commissioners investment of Idle Cash Bank balances of minimum amounts of $58,223.70, $65,612.98 and $64,275.21 for the years 1968, 1969 and 1970 respectively, were noted. For the period from July 1969 to February 1970 a minimum amount of $101,390.82 was on deposit. These operating fund balances were not invested pursuant to the provisions of the General Municipal Law, §11. In the interest of prudent management, the board of commissioners, in co-operation with the treasurer, should consider investment of idle moneys. STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL, DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) 6, Fishers Island Ferry District Town of Southold • Indebtedness A summary statement of the indebtedness for the fiscal year ended December 31, 1970 is shown in Exhibit C. Oaths and Undertakings Oaths of Office All of the required oaths of office were on file in the town clerk's office. Official Undertokincs The undertaking of the treasurer covering the period examined was found on file in the town clerk's office. A bond in the amount of ZtOCO.00 was required to be procured and kept in force on the purser of the vessel Olinda during the period covered by the contract between the district and the operator. A bond was found for the period from June 19, 1970 to December 311, 1970 and was paid for by the district. STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL, AFFAIRS AC 1426(5/71) 7. Fishers Island Ferry District Town of Southold • INDEX TO FINANCIAL STATEMENTS Summary of Cash Transactions Exhibit A Operating Fund - Statement of Cash Receipts Schedule l Operating Fund - Statement of Cash Disbursements Schedule 2 Trust and Agency Funds - Statement of Closing Balances Exhibit B Statement of Indebtedness Exhibit C • STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District Town of Southold EXHIBIT A OPERATING FUND SUP.1AAARY OF CASH BALANCES, RECEIPTS AND DISBURSEMENTS From January 1, 1968 to December 31, 1968 Balance Balance 1/1L68 Recefpts Disburse ments 31 68 $ 72y207.31 $265,964,02 $254,267.74 $ 83,903.59 From January 1, 1969 to December 319 1969 • Balance Balance 1 1 69 Receipts DIsbursements l2 31 69 $ 83 943.59 $289.,088.73 $244,303.66 $128,688.66 From January 1, 1970 to December 31, 1970 Balance Balance 1 /1/70 Receipts Disburs nts 12L31/70 $128,688.66 $291, 782.41 $343,6913.49 $ 76,7 30.58 STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District Towyn of Southold SCHEDULE 1 OPERATING FUND STATEMENT OF CASH RECEIPTS - BY CATEGORY Year Ended December 319 1970 Category Real Estate Taxes $ 269182.00 Ferry District Proceeds 2399429.17 U. S. Mail 89216.92 U. S. Navy 310.88 Theatre 9,473.90 • Airport 466.66 Charters 61550.00 Leases 932.88 Petty Cash 200.00 Total Receipts (To Exhibit A) $291,782.4_1 STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District Town of Southold SCHEDULE 2 OPERATING FUND STATEMENT OF CASH DISBURSEMENTS Year Ended December 31, 1970 Function Operation Ferry $2269272.93 Payrolls 26,981.06 Office Expense 96.56 • Commissioners Fees 650.00 Accounting 600.00 Airport 11,346.55 Theatre 49721.16 U. S. Mail 10380.00 Insurance 34,750.88 Social Security 19289.16 Construction Repairs 189087.75 Taxes 29426.44 Bond Redemption Principal 209000.00 Interest 49617.00 Claims 113.00 Bond Renewal 358.00 Total Disbursements (To Exhibit A) $343,690.49 STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL, DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District Town of Southold EXHIBIT B TRUST AND AGENCY FUND STATEMENT OF CLOSING BALANCES AT DECEMBER 31, 1970 Cash Balance Social Security Fund _$148.26 STATE OF NEW YORK DEPARTMENT OF AUDPI' AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District Town of Southold EXHIBIT C ALL FUNDS STATEMENT OF INDEBTEDNESS Year Ended December 31, 1970 Paid Outstanding During Outstanding January 1, 1970 Year December 31, 1970 Bond. Anticipation • Notes $135,O0O,00 $20,000-00 $115,000.00 i STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL .AFFAIRS AC 1426(5/71) i Certification I, DAVID F. CARLSON, do hereby certify that I am an Examiner in the New York State Department of Audit and Control; that pursuant to law I have made an examination of the Accounts and Fiscal Affairs of the FISHERS ISLAND FERRY DISTRICT, TOWN OF SOUTHOLD, COUNTY OF SUFFOLK; that I have read the foregoing report of such examination and that the • same is true to the best of my knowledge, information and belief. Dated 14r� 1 I1�j ,, 772 Senior Examiner of Municipal Affairs STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS