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Home My WebLink About1971-1974 FIFD 75MJ-,43 FISIMLI; ISLAND FMY DISTRICT TOWN OF SWTHOLD ,.'OUNTY OF SUFf4jLl' • Perlcd Goveredt January 1, 1971 Tiu-c)uf!,h Dtcember 31, 1974 lkiport Filed - November 10, 1975 Department oe Audit and Control AlbwW, New York Arthur Levitt, State ��-aptrollcr • Thomas E. Galisid Examiner-in-Charf;,,e AC 1426(5/71) TO THE CHAIRMAN AND COMMISSIONERS OF THE FISHERS ISLAND FERRY DISTRICT TOWN OF SOUTHOLD SUFFOLK COUNTY, NEW YORK Honorable Members: Pursuant to Article 3 of the General Municipal Law, we have examined the financial statements of the various funds of the Fishers Island Ferry District as of December 31, 1974 and the related statements of operations for the fiscal year then ended. Our examination was made in accordance with generally accepted auditing standards and accordingly included tests of accounting records and such other auditing procedures as we considered necessary in the circumstances. Our examination also included a review of operations of all district officers and departments for accountability and compliance with applicable statutes and regulations. In our opinion the aforementioned financial statements fairly present the cash position of the several funds of the Fishers Island Ferry District at December 31, 1974 and the results of operation arising from cash transactions for the year then ended. The Fishers Island Ferry District follows the cash basis of accounting, consequently,, the financial statements prepared thdrefrom do not show all assets and liabilities of the district as of December 31, 1974; thereby affecting the financial position and the results of operation of the district at this date. Very truly yours, OFFICE OF THE STATE COMPTROLLER DIVISION OF MUNICIPAL AFFAIRS • S'L'ATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District INDEX TO FINANCIAL STATEMENTS Summary of Cash Transactions Exhibit A General Fund Statement of Cash Receipts Schedule 1 Statement of Cash Disbursements Schedule 2 Trust and Agency Funds Schedule 3 Statement of Indebtedness Exhibit B • • STATE OF NEW YORK DEPAR'1'MEN`I' OF AUDIT AND CONTROL. DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District • EXHIBIT A SUMMARY OF CASH TRANSACTIONS Year Ended December 31, 197,. Balance Balance Beginning of End of Funds Fiscal Year Receipts Disbursements Fiscal Year General $82,983.27 $343,083.96 $352,633.60 $73,433.63 Trust and Agency 335.38 21,816.44 16,314.44 5,837.38 . Total $83,318.65 1361.900.40 1368,948.04 $79,271.01 c S'L'ATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL.. DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District • SCHEDULE 1 GENERAL FUND STATEMENT OF CASH RECEIPTS Year Ended December 31, 1974 Category Real Property Taxes 63,380.00 Departmental Income 276,714.84 Use of Money and Property 4552.79 Miscellaneous 1,436-33 Total (To Exhibit A) $3Q.083.96 • S'I'A'I'E OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL, DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/7 1) Fishers Island Ferry District • SCHEDULE 2 GENERAL FUND STATEMENT OF CASH DISBURSEMENTS Year Ended December 31, 1974 Function General Government Support 214.01.32 Transportation 322,076.26 Undistributed: Debt Service - Principal 190000.00 Debt Service - Interest 1,995.00 Employee Benefits 7,161.02 Total (To Exhibit A) ,35.2,633.60 • • S'T'ATE OF NEW YORK DEPARTMEN'1' OF AUDIT AND CONTROL. DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Ferry District • SCHEDULE 3 TRUST AND AGENCY FUNDS CASH BALANCES, RECEIPTS AND DISBURSEMENTS Year Ended December 31, 1974 Balance Beginning Balance of Disburse- End of Fund Fiscal Year Receipts ments Fiscal Year Traffic and Car Balances .00 $14,578.40 $ 9,125.63 $5,452.77 Group Health Insurance .00 479.40 479.40 .00 State Income Tax .00 698.60 698.60 .00 Federal Income Tax .00 3,110.80 3,110.80 .00 Association and Union Dues .00 72.01 72.01 .00 Social Security 335.38 2,877.23 2,828.00 384.61 Total (To Exhibit A) 1225.38 21 816.44 16 314.44 5 8 7.38 f , • • STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426)5/71) Fishers Island Ferry District EXHIBIT B STATEMENT OF INDEBTEDNESS Year Ended December 31, 1974 Outstanding Outstanding Beginning of End of Fiscal Year Paid Fiscal Year Serial Bonds (Purchase of Ferry) $57,000.00 $19,000.00 V84000.00 • • STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) Fishers Island Fer1, a AUDIT FINDING Purser The ship's purser collects the money for the tickets and then collects the tickets. To provide for a better control and to prevent their possible reuse$ all tickets should be collected and mutilated by someone other than the person selling the tickets. Lla z • • STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS 2. AC 1426(5/71) Fishers 'Island Ferry District • GENERAL AND STATISTICAL INFORMATION Principal Officers During_ Period 'Examined Commissioner Lawrence S. Baldwin (1/1/71 - 12/18/73) (a) " Richard S. Baker, Sr. (12/18/73 - 12/31/74) " Raymond F. Doyen (b) " Polly Edmonds (1/1/71 - 10/15/74) " John C. Evans (10/15/74 — 12/31/74) " Richard V. Foyle " Stephen A. Morell Manager Secretary Wilfred G. Sinclair Treasurer Albert Martocchia • (a) Served as Chairman (1/1/71 - 9/11/72) (b) (10/5/72 - 12/31/74) • STATE OF NEW YORK DEPARTMENT OF' AUDIT AND CONTROL. DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/71) 3. Fishers' Island Ferry District • Governing Laws Created November 21, 1947 pursuant to: Chapter 699, Laws of 1947 Chapter 27, Laws of 1948 amended by: Chapter 82, Laws of 1950 Chapter 6201, Laws of 1951 Chapters 132, 169, 174 Laws of 1957 Chapter 637, Laws of 1962 Chapter 650, Laws of 1968 ose 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 1974 $5,7859507.00 Tax Rate, 1974 (Per $1,000.00) $10.96 STATE OF NEW YORK DEPARTMENT OF AUDIT' AND CONTROL. DIVISION OF MUNICIPAL AFFAIRS AC 1 426(5/7 1) 4. Fishers Island Ferry District • Summary of 1974 Budget Purpose Amount Appropriated Payrolls $ 23,700.00 Operation of Ferry 195,440.00 Repairs to Ferry 12,500.00 Repairs to Building 209900.00 Commissioners Fees 1,000.00 Mail 1,560.00 Office Expense 3000.00 Insurance 40,507.00 Property Tax 21710.00 Theatre 9,560.00 Airport 4,810.00 Special Expenditures: Steering 18,000.00 Roof 31200.00 Int. Funded Debt _ 1,715.00 Bonded Indebtedness: Principal 19,000.00 Interest 1,995.00 Employee Benefits: Hospitalization 81#825.00 Social Security 1,500.00 • State Retirement 5580-Q0 Independent Audit 2,100.00 Attorney Fees 600.00 Total Appropriations $381002.00 Less Estimated Revenues $276,929.00 Unexpended Year-End Balance 41,193.00 318,122.00 i� Taxes Needed to Meet Appropriations 631380,00 i STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL. DIVISION OF MUNICIPAL AFFAIRS AC 1426(5/7 1) - 5. Fishers Island Ferry District TABLE OF CONTENTS I. Letter of Opinion II. Financial Statements III. Audit Finding IV. General and Statistical Information • S'PA'CE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL, DIVISION OF MUNICIPAL AFI,AIRS AC 1426(5/71) Certification I, THOMAS E. CALISSI, 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 SOUTHOLDv 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 3 0 Examiner of %m1c&a1 Affairs STATE. OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL DIVISION OF MUNICIPAL AFFAIRS