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Home My WebLink About1979 r E. F. KALDOR, P. C. CERTIFIED PUBLIC ACCOUNTANT 548 ROANOKE AVENUE RIVERHEAD, N. Y. 11901 TELEPHONE 518_727-7888 Theodore J. Heuser, Associate April 21 , 1980 Town Board Town of Southold Town Hall Southold, New York 11971 Dear Sirs : In accordance with your request , the books and financial records of the Town of Southold have been examined for the year ended December 31 , 1979 . The examination was made in accordance with generally accepted accounting standards , and accordingly included such tests of the accounting records and other such precedures as was considered necessary in the cir- cumstances . In our opinion, the accompanying Financial Statements present fairly the financial position of the Town of Southold and the results of its operationd for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Very truly yours . ELAINE F. KALDOR Certified Public Accountant ck 4 TOWN OF SOUTHOLD NOTES TO FINANCIAL STATEMENTS 1 . Records of all Fixed Assets of the Town of Southold are maintained by the General Appraisal Co . During the year each department submits a list of additions and deletions to the Town Clerk which are forwarded to the General Appraisal Co . for the updating of records . 2 . It is recommended that signature plates for previous supervisors , namely Albert Martocchia and James Homan be destroyed. 3. All invoices should be signed by department heads or other authorized personnel indicating that material has been received or services rendered prior to processing by the Supervisor' s office . 4. A bond anticipation Vote has been obtained in the amount of $83, 000 , 00 for Bayview Terrace , payable in the amount of $1 , 600 per year for five years at a variable interest rate. The bond will be repaid by property owners on a tax assessment basis . 5. We have received from the County of Suffolk $40 , 000 which rep- resents Year II allotment on a Community Development Grant payable to the Village of Greenport on a cooperative recreational development . We are committed to repay the Village of Greenport in-kind or in cash over a two year period. 6. General Fund-Whole Town Revenues exceeded Budgeted Estimates by $143, 743- mainly due to increased State Aid, $930402 , Earned Interest , $27 , 703 , and Sale of Scrap and Excess Materials , $10 , 376. Disbursements were less than Budgeted Estimates by $53, 776 which was mainly in General Government Support , $26 , 898 , and Public Safety, $9 ,492 , 7 . General Fund part Town Revenues exceeded Budgeted Estimates by $62 , 324 principally due to increased State Aid, $14 , 475 , and Earned Interest , $39 , 913. Disbursements were in line with budget . 8. Highway Department Revenues were $53, 248 over Budgeted Esti- mate which arose from Earned Interest , $38 , 218 and Equipment Repairs , $15 , 030 . Expenditures were less than Budgeted Estimate by $102 , 803 which arose in part as follows : Repairs & Improvement , $50 , 102 , • Snow & Misc. , $ 30 , 134 , and Employee Benefits , $10 , 161 . -1- TOWN OF SOUTTIOLD AUDIT RE 0 T INDEX Page Numb e r Comments 1 General Fund-Town Wide-Balance Sheet 2 Statement of Revenues 3 Statement of Expenditures 4 Analysis of Fund Balance 5 Part Town-Balance Sheet 6 Statement of Revenues 7 Statement of Expenditures 8 Analysis of Fund Balance 9 Highway Funds-Balance Sheet 10 Statement of Revenues & Expenditures 11 Analysis of Fund Balances 12 Federal Revenue Fund-Balance Sheet 13 Statement of Revenues & Expenditures 14 Analysis of Fund Balance 15 Debt Service Fund-Balance Sheet 16 • Statement of Revenues & Expenditures , & Analysis of Fund Balance 17 Bayview Terrace Road Improvement-Balance Sheet 18 Trust � Agency- Balance Sheet & Analysis of Cash 1.9 General Fixed Assets-Balance Sheet 20 Schedule of Indebtdness ?1 Town Clerk' s Office-Bank Reconciliations 22 Tax Receiver-Reconciliation of Funds 23 Justices of the Peace-Bank Reconciliations 24 Fisher ' s Island Ferry District 25 TOWN OF SOUTHOLD GENERAL FUND BALANCE SHEET-TOWN WIDE ECEM FR 310 1979 Assets Cash $ 586. 84 Cash in Time Deposits 159 , 518. 21 Due from State & Federal 6 , 994 . 90 Total Assets $167 , 099 , 95 Liabilities and Fund Balance Liabilities Total Liabilities $ -0- Fund Balance • Appropriated-Ensuing Year' s Budget $120 , 000 . 00 Unappropriated 479099 . 95 Total Fund Balance 167 ,099 . 95 Total Liabilities & Fund Balance $167 , 099 . 95 • -2- TOWN OF SOUTHOLD GENERAL FUND STATEMENT OF EVENUES-TOWN WIDE Real Property Taxes $ 6R3 ,151 . 00 Interest & Penalty 9 , 061 . 37 Departmental Income Town Clerk Fees $ 999 , 25 Airport Fees 54 . 00 Park & Recreation Charges 7 , 092 . 50 Recreation Concessions 500 . 00 Dog Control Fees 1 . 440 . 00 Program for Aging 813. 91 Use of :Money & Property 10 , 899 . 66 Interest & Earning $ 40 , 630 . 37 Commissions 98 . 08 Licenses -& Permits 40 , 728. 45 Bingo Licenses $ 2 , 410 . 79 Dog Licenses 5 , 012 . 82 Other Permits 14 , 676 . 0_3 22 , 099 . 64 Fines & Forfeited Bail 9 , 669 . 00 Sale of Property & Loss Compensation Sale of Materials $ 12 ,427. 98 Sale of Equipment 2 , 700 . 00 Insurance Recovery 248. 8S 15 , 376. 83 Miscellaneous , Refunds 4 $ 4 , 058 . 06 CETA-Title II 8, 092 . 44 1 State Aid 2 , 150 . 50 Per Capita $141 , 086 . 00 Mortgage Tax 121 , 107. 97 Loss of Railroad Revenue 21,488. 88 Recreation for Elderly 2 , 119 . 50 Shellfish 1 , 500 . 00 268, 302 . 35 Total Revenues $1 , 0711438 . 80 - 3- i i TOWN OF SOUTHOLD GENERAL FUND STATEMENT OF EXPENDITURES-TOWN WIDE f 1979 Equipment & Personal Capital Contractual Total Services Outlay Expense Other General Government Support $ 4741) 523. 16 $286 ,105. 78 $ 1 , 202 . 91 5187 ,214 . 47 Publid Safety 59 , 752 . 81 461, 851 . 83 12 , 900. 98 Transportation 134 255. 98 63 559 . 31 70 696. 67 Economic Assistance & Opportunity 10,400. 42 6,916. 18 3. 484 . 24 Culture & Recreation 901I591 . 47 38 ,499. 84 1 , 200. 00 50, 891 . 63 Home & Community Services 128, 000. 76 70 , 158. 96 57, 841 . 80 Employee Benefits 136 , 299. 51 $136 , 299. 51 Transfers to Other _ Funds 11 , 026. 00 11 , 026. 00 Total Expenditures $13,044 , 850 . 11 $512 , 091 . 90 $ 2 ,402 . 91 $3831-029 . 79 $147 , 325 . 51 - 4- TOWN OF SOUTULD GENERAL FUND ASA YS S 0 UND BALANCE w Opening Fund Balance 1/1/79 $ 1339516 . 36 Add : Revenues 1' 071 438. 80 1, bb . 16 Less': Expenditures 1 , 044 , 850. 11 Total Before Adjustments $ 160 , 105. 05 Add : State & Federal Aid Claims Paid from Appropriations 61994 . 90 _ Fund Balance 12/31/79 $ 167 , 099 . 95 w w " - S- TOWN OF SOUT90LD GENERAL F?JN BA CE S � -PART TOWN DECEMBER ,-= Assets Cash $ 455. 91 Cash in Time Deposits 7P969 . 90 Total Assets $8 ,425 . 81 Liabilities & Fund Balance Liabilities Total- Liabilities $ Fund Balance Appropriated Ensuing Year ' s Budget $2 ) 500 . 00 Unappropriated 5 , 925. 81 Total Fund Balance $8 ,425. 81 Total Liabilities & Fund Balance $80425 . 81 -6- TOWN OF SOTJT90LD GENERAL FUND STATEMENT OF :VENUES-PART TOWN Real Property Taxes $1 , 178 , 550 . 00 Departmental Income Police Fees $ 630. 80 Health Fees 987. 50 Zoning Fees 26, 685 . 90 Planning Board Fees 8 , 590 . 00 36, 894, 20 Use of Money- Interest 54 , 913. 19 Miscellaneous Refunds $ 602 . 54 Permits 500 . 00 Sale of Scrap 435 . 00 Insurance Recoveries 427 . 30 Cable Franchise 2231011 . 00 2 State Aid 3 , 975 . 84 Per Capita $69 ,443. 00 Navigational Aid 532 . 00 69 , 975. 00 Federal Aid-Anti Recession 365 . 70 Total Revenues $11364 , 673. 93 - 7- TOWN OF SOUTHOLD GENERAL FUND STATEMENT OF EXPENDITURES - PART TOWN 1979 Equipment & Personal Capital Contractual Total Services Outlay Expense Other General Government Support" $ 60,6-67. 45 $ 60 ,667. 45 Public Safety 9103,061 . 54 $ 775 , 671 . 33 $ 3 ,468. 00 1302922 . 21 Health 33,000 . 00 33, 000. 00 Home & Community Services 5631836. 23 46,913. 99 123. 30 91, 798. 94 Employee Benefits 346,414 . 47 $ 346 ,414 . 47 Total Expenditures $1 , 376 ,979. 69 $ 825 , 585. 32 $ 3, 591 . 30 $ 2011, 388. 60 $ 34611414 . 47 -8- Town of Southold General Fun na sisund Balance • Opening Fund Balance 1/1/79 $ 20 , 731 . 57 Add: Revenues 10364 , 673. 93 $1 , 385 , 405. 50 Less : Expenditures 1 , 376 , 979 . 69 Fund Balance 12/31/79 $ 8,425 . 81 • -9- TOWN OF SOUTHOLD • HIGHWAY FUND BALANCE SHEET UTnM E ' Assets Cash $ 60903. 49 Cash in Time Deposits 190 , 243. 51 Total Assets $197 , 147. 00 Liabilities and Fund Balance Liabilities Total Liabilities Fund Balance Reserve for Encumbrances $ 5 , 963. 00 Appropriated-Ensuing Year' s Budget 810018 . 44 Unappropriated 110 , 165 . 56 Total Fund Balance 1970147. (j0 Total Liabilities & Fund Balance $197, 147. 00 -10- s TOWN OF SOUTHOLD HIGHWAY FUNDS - STATEMENT OF REVENUES 1979 Repair and Snow and Total Improvement Machinery Miscellaneous Real Property Taxes $ 8345-194. 00 $ 514 ,194. 00 $ 178, 800. 00 $ 1412200. 00 Use of Money - Interest 55 ,218. 01 331-130. 81 1111043. 60 115, 043. 60 Miscellaneous Repairs - General Fund 219059 . 09 83,426. 17 12 , 591. 93 40 . 99 Sale of Equipment 350. 00 350. 00 State Aid - Mileage 133, 306. 50 131306. 50 Total Revenues $ 924 ,127. 60 $ 5699057. 48 $ 2029785. 53 $ 152 , 284 . 59 HIGHWAY FUNDS - STATEMENT OF EXPENDITURES 1979 Repair and Snow and Total Improvement Machinery Miscellaneous Personal Services $ 360 , 846. 76 $ 264 , 269 . 18 $ 599444 . 65 $ 371,132 . 93 Contractual Expense 2741,166 . 64 168 ,128. 96 53,686. 90 52 , 350. 78 Capital Outlay 44 , 399. 96 44 , 399. 96 Employee Benefits 146 , 339 . 42 105, 185. 71 219832 . 31 19 , 321 . 40 Total Expenditures $ 825 , 752 . 78 $ 5371583. 85 $ 1799363. 82 $ 1081- 805. 11 No column is provided for Bridges since there were no transactions during the year -ll- TOWN OF SOUTHOLD ' _ HIGHWAY FUNDS ANAL IS F FUND BALANCES 1979 Repair and Snow and Total Improvement Bridge Machinery Miscellaneous Fund Balances 1/1/79 $ 981, 772 . 18 $ 699016. 97 $ 2 , 518. 44 $ 20 ,497. 50 $ 6, 739. 27 Add: Revenues 9241,127. 60 5691057. 48 - 0- 202 , 785. 53 152 ,284. 59 $11, 0221, 899. 78 $ 6381074. 45 $ 29518. 44 $ 22331283. 03 $ 1591023. 86 Less : Expenditures 825, 752. 78 537 , 583. 85 -0- 1791, 363. 82 108, 805. 11 Total Before Adjustments $ 197,147. 00 $ 1001490. 60 $ 21, 518. 44 $ 43, 919. 21 $ 50, 218. 75 Less : Encumbrances 5, 963. 00 531963. 00 Fund Balances 12/31/79 $ 191 ,184 . 00 $ 100,490. 60 $ 2 , 518. 44 $ 371, 956. 21 $ 509218. 75 -12- TOWN OF SOUTHOLD FEDERALR�VC F 3 A ANCE SHEET CEM R , Assets Cash $ 16. 37 Cash in Time Deposits 861401 . 28 Total Assets $86 , 417. 65 Liabilities & Fund Balance Liabilities Total Liabilities $ -0- Fund Balance Reserve for Encumbrances $ 4 . 653. 29 . Appropriated-Ensuing Year' s Budget 81 , 764 . 36 Total Fund Balance 86 ,417. 65 Total Liabilities & Fund Balance $86,417 . 65 -13- i TOWN OF SOUTHOLD FEDERAL REVENUE FUND - STATEMENT OF REVENUES 7 Interest & Earnings $ 59985. 26 Federal Aid - Revenue Sharing 137,004. 00 Total Revenues $ 142 , 989. 26 FEDERAL REVENUE FUND - STATEMENT OF EXPENDITURES 1 • Equipment & Personal Capital Contractual Total Services Outlay Expenses Other Police Equipment $ 3211304 . 22 $ 32 , 304. 22 Libraries 400500. 00 40 , 500. 00 Compactor 301,653. 14 3010653. 14 Land Acquisition 75- 860. 18 7, 860. 18 Waste Water Study 101,000. 00 - _ 101P000. 00 Total Expenditures $ 1211, 317. 54 $ -0- $ -0- $ 121 ,317. 54 r $ -0- -14- TOWN OF SOUTHOLD FEDERAL REVENUE FUND AWYSTS OF FUND BALANCE Opening Fund Balance 1/1/79 $ 55 , 232 . 06 Add : Revenues 142 , 999 . 26 $198, 221 . 32 Less : Expenditures 121 , 317 . 54 Total Before Adjustments $ 76 , 903. 78 Adjustments Add : 1978 Encumbrances $9 , 513. 87 Less : 1979 Encumbrances 4 , 653. 29 Net Adjustment 40860. 58 Fund Balance 12/31/79 $ 81 , 764 . 36 • -15- TOWN OF SOUTHOLD DEBT SE V—rC _. FUND TA——ACV, SHEET DECEMBER 31 , 1979 Assets Total Assets $ 20- Liabilities a Fund Balance Total Liabilities $ - 0- Total Fund Balance - 0- Total Liabilities & Fund Balance $ - 0- TOWN OF SOUTHOLD DEBT SERVICE FUND STATEMENT OF REVENUES 1979 ' Interfund Revenues $ 11 , 026. 00 STATEMENT OF EXPENDITURES 1979 Total Principal Interest Bond Anticipation Note $ 111) 026. 00 $ 1011000. 00 $ 19026. 00 ANALYSIS OF FUND BALANCE 1979 Opening Fund Balance 1/1/79 $ -0- Add: Revenues 11 , 026. 00 $ 111- 026. 00 Less : Expenditures 111-026. 00 Fund Balance 12/31/79 $ - 0- -17- TOWN OF SOUT'iOLD BAYSIDE TERRACE ROAD IMFK-07PMT BALANCE YMT DECtM13F-- 31 Assets Assessments Receivable , Deferred $80428 . 00 Liabilities & Fund Balance Liabilities Interest payable $ 428. 00- Bond Anticipation Notes payable 81000. 00 Total Liabilities $80428. 00 Total Fund Balance _ 0_ Total Liabilities & Fund a ance $8, 428. 00 No statements of Revenues and Expenditures are included since there were no transactions in the fund. - 18- TOWN OF SOUTHOLD TRUST & AGENCY FUND BALANCE SHEET DECEMBER 311 1979 Assets Cash $ 562371. 20 Total Assets $ 5691371 . 20 Fund- Balances State Retirement System $ 1 ,239. 98 Social Security 5511031 . 96 Sales Tax 56. 21 E-W Fire Protection 43. 05 Total Fund Balances $ 563, 371 . 20 ANALYSIS OF CASH 1/1/79 Cash Cash 12/31/79 Balance Receipts Disbursements Balance Consolidated Payroll $13,278, 352 . 51 $102781, 352 . 51 Employees Retirement $ 586. 24 101,267. 84 99,614 . 10 $ 1 , 239. 91 + Group Insurance 869655. 62 863,655. 62 NYS Income Tax _ _ 72,485. 15 721,485. 15 Federal Income Tax 2249076. 52 224 , 076. 52 Income Executions 21340. 00 2 , 340. 00 Association & Union Dues 6,627. 84 6, 627. 84 U. S. Savings Bonds 4 , 950. 00 41,950. 00 Social Security 369516. 63 206, 004 . 03 187,488. 70 55 , 031 . 96 Guaranty $ Bid Deposits 1 , 700. 00 500. 00 2 ,200. 00 Sales Tax 50. 77 1 , 073. 59 1 , 068. 15 56.21 E-W Fire Protection 369633. 05 369590. 00 43. 05 Bingo Licenses 19897. 50 19897. 50 Overpayments 139964. 19 139964. 19 Total $ 38, 853. 64 $1, 945, 827. 84 $1 ,928,310.28 $ 569, 371. 20 -19- TOWN OF SOUTHOL.D GENERAL FIXED—AS �ATANCE SHEET Assets Land $ 263 , 050 . 00 Buildings 1. 04581440 . 76 Machinery & Equipment 2 , 067, 630 . 01 Total Assets $3 , 789 , 120 . 77 Investment in General Frxed Assets Bonds & Notes $11295 , 200. 00 Current Appropriations 6, 006. 09 Federal Aid 882 , 132 . 00 Gifts Fa Prior Appropriation 1 , 605 , 782 . 68 Total Investment in General ixe ssets $3, 789 , 120 . 77 - 20- TOWN OF SOUTHOLD SCHEDULE OF INDEBTDNESS ' DECEMBER 31 , 1979 Issue Date and Interest Outstanding Issued Outstanding Maturity Rate 1/1/79 in 1979 12/31/79 Date Street Lights 3/78 3.42% $ 309000 . 00 $ 201,000. 00 3/80 Bayside Road Improvement 4/79 5. 35% $ 81,000. 00 81- 000 . 00 4/80 $ 30, 000 . 00 $ 89000. 00 $ 28, 000 . 00 -21- TOWN OF SOUTHOLD . TOWN CLFRK' S 0 F - ONCILIATIONS CE, .R 31 1 Town Clerk - J. I . Terry Bank Balance 12/ 31/79 $4 , 399 . 16 Deposit in Transit 40 . 76 $4 , 439 . 92 Outstanding Checks 4 , 439 . 92 Ledger Balance 12/31/79 $ -0- Town Trustee - M. Brush Bank Balance 12/31/79 $ - 0- Ledger Balance 12/31/79 $ -0- Building Inspector - J. Fisher r Bank Balance 12/31/79 $1 , 217. 17 Deposit in Transit 101 . 10 $1 , 318. 27 Outstanding Checks 1P318. 27 Ledger Balance 12/31/ 79 $ - 0- • -22 - TAX RECEIVER RVCONCILIATION OF FUNDS FOR TAX YEAR 1978-197T- Taxes per Warrant $1398270474 . 84 Adjustments 1 31495. 92 Total $13 , 8301970 . 76 Paid to Town Supervisor $12 , 289 , 715. 10 Paid to County Treasurer 100830519 . 23 Transferred to County 457p736 . 43 Total $13 , 8300970 . 76 Tax Year 1979- 1980 Bank Balance 12/31/79 $ 250 , 791 . 87 .Checkbook Balance 12/31/79 $ 250 , 791 . 87 - 23- TOWN OB SOUVIOLD JUSTICES OF THE P :AC : BANKCONCILIATIONS , 7 Judge F. Tedeschi Bank Balance 12/31/79 $2 , 731 . 50 Deposit in Transit 50 . 00 $2 , 781 . 50 Less Outstanding Checks 150. 00 $2 , 631 . 50 Judges Ledger - Bail Money $2 , 125. 00 Due NYS Comptroller 506 . 50 $2 , 631 . 50 Justice Francis Doyan Bank Balance 12/31/ 79 $ 95. 00 Justice ' s Ledger - Due NYS Comptroller $ 95. 00 Justice James F. Rich Jr. Bank Balance 12/31/79 $1 , 173. 00 Justice ' s Ledger - Bail Money $ 425 . 00 Fines 30 . 00 Certified Mail 49 . 00 Due NYS Comptroller 669 . 00 $1 , 173. 00 - 24- MEMO ONLY FISHER'S ISLAND FERRY DISTRICT BANK RECONCILIATION & CASH POSITION ► AT DECEMBER 31 , 1 Valley National Bank Balance 12/31/79 $ 141,183. 00 Less : Outstanding Checks 133,293. 00 Add : Savings Account 99 , 514. 00 $ 100,404 . 00 TRUST & AGENCY ACCOUNT Bank Balance 12/31/79 $ 5 ,988. 00 RECONCILIATION 1/1/79 Cash Cahs 12/31/79 Balance Receipts Disbursements Balance Fisher' s Island $ 639549. 00 $ 595, 476. 00 $ 558 ,621 . 00 $ 100, 404 . 00 Trust & Agency 1 ,275 . 00 65, 746. 00 61 , 033. 00 59988. 00 Capital Account 101,954. 00 -0- 102954 . 00 -0- BONDED INDEBTEDNESS Outstanding 1/1/79 $ 589 , 000. 00 Paid in 1979 249000. 00 Outstanding 12/31/79 $ , Interest Paid in 1979 34 , 043. 00 -25-