HomeMy WebLinkAbout2015 RECEIVED
All Numbers in This Report APR 2 5 2016
Have Been Rounded To
The Nearest Dollar
Southold Town Clerk
ANNUAL FINANCIAL REPORT
UPDATE DOCUMENT
For The
TOWN of Southold
County of Suffolk
For the Fiscal Year Ended 12/31/2015
*************************************************************************************************************************************
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 2014 and has been used by the OSC as the basis for preparing this
update document for the fiscal year ended 2015:
(A) GENERAL
(B)GENERAL TOWN-OUTSIDE VG
(CD) SPECIAL GRANT
(CM) MISCELLANEOUS SPECIAL REV
(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 2014 represent data filed by your government with
OSC as reviewed and adjusted where necessary.
***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 2015
(A)GENERAL
Balance Sheet
Code,Description 2014 , _ -EdpCpde,L . 2015;;
Assets •
Cash 10,787,213 A200 14,175,741
Cash In Time Deposits 4,093,393 A201 6,320,634
Petty Cash 561 A210 623
TOTAL Cash :'.14,881,168 '.1,.. a° 20,496,998
Taxes Receivable,Current 417
_ _„w__ •,...,..Taxes
417 A250 367
TQTAL Taxes Receivable(netj •s - '7 ' ` ,•V -- _._. 417 s 7 '77—:.._ - 367_
__._,__
Accounts Receivable 108,120
A380 1,708
TOTAL Other Receivables(net)-.,..„_. ' 108,120 _ ,_.' 1,708
_
Due From State And Federal Government 83,768 A410 28,225
TOTAL State Anl''Federal Aid;Receivables
2
83,768___ 28,22 25
Due From-other Funds 884,861 A391 433,399
TOTAL Due From Other Funds ` 884,861 433,399
Due From Other Governments 1,026,844 A440 1,148,709
TOTAL Due From Other Governments 1,026,844 1,148;709'¢
Inventory Of Materials And Supplies .. 2,230 A445 ___.,. —1,674
TOTAL inventories M ` 2,230 1,674
Prepaid Expenses 1,049,439 A480 1,041,076
TOTAL Prepaid Expenses , c , 1,049,439 ;,. 1,041,076,
., _.,.... <w.._,.__. .... _ . . ......�
[TAL Assets and Deferred.Outflowsof•Resources - , 18,036,847x- : '23,152;156
Page 3 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Balance Sheet
Cbdepescription ._�� ',°:' ' ,, .T�. ' :f '^.aoja ' r_ WaWcode JL_�.‘-•72C115 ' T:1
Accounts Payable 1,432,182 A600 575,292
iTOTAL Accounts Payable < . . ... _._ - .•_.. ..•. ,,._. _.. ‘L,' .1,432,182' 7 _._''_.:._. 575;292
Due To Other Funds 3,008,510 A630 3,266,668
TOTAL Due To'Other Funds _ M".,__ _. ' 3,008,510" 8,266,668,
Due To Other Governments 861 A631 5,830,880
TOTAL Due To Other Governments' 861 • 5,830,880
li-OiAL Liabilities „ '• . .4,°441,552 9,672,840
Deferred Inflows of Resources
Deferred Inflow of Resources 5,015,873 A691 5,367,362
.TOTAL Deferred Inflows of Resources Ww , ” 5,015,873 mmm 5,367,362
TOTAL Deferred,Inflows of Resources '5,015,873 , - 5,367,362
. ._. .. -.-. ...._— , _. _ „ .._.Am.. „ ,.._ .. _ —._.. ..... __-_, ..... _ .....
Fund Balance
Not in Spendable Form 1,051,668 A806 1,042,749
;TOTAL Nonspendable Fund-100404T 1 051,668. 1,042,749
Insurance Reserve A863
,TOTAL..Restrlcted Fund Balance_• ' .._,,,, _.___,., , �... . :Ot _.... _ 0
Assigned Appropriated Fund Balance 2,800,000 A914 2,800,000
Assigned Unappropriated Fund Balance 1,140,793 A915 426,028
,TOTALAssigned.Fund Balance ,. ',3,940,793 3,226,028;
Unassigned Fund Balance 3,586,960 A917 3,843,178
TOTAL Unassigned Fund Balance 3,586,960 - : mmr 3,843,178
•
LTOTAL Fund Balance"' .. ' 8,579,421 8,111,956
TOTAL Liabilities,Deferred Inflows And Fund Balance�m' - ' , ' . . . ' --�.O36 847 ','— m_ ` .. i
...__.w.._. ,.._w.._ _ ..__ �....._. ._ .. .w_ _._.._._. _.,18;036;847 mm23,152w156;
Page 4 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Results of Operation
ode Description T 2014', [ EdpCode > 2015 j
Revenues
Real Property Taxes 23,042,527 A1001 23,191,122
TOTAL Real Property Taxes 23,042,527 23,191,122
Other Payments In Lieu of Taxes 34,435 A1081 21,696
Interest&Penalties On Real Prop Taxes 55,705 A1090 62,773
TOTAL Real Property Tax Items 90,14084,468
Non Prop Tax Dist By County 885,473 A1120 1,019,873
TOTAL Non Property Tax Items885,473 1,019,873
Treasurer Fees 944 A1230 372
Clerk Fees 9,159 A1255 10,429
Other General Departmental Income 1,669 A1289 1,003
Police Fees 4,686 A1520 11,607
Other Public Safety Departmental Income 417 A1589
Charges-Programs For The Aging 204,712 A1972 181,041
Park And Recreational Charges 123,071 A2001 112,545
Special Recreational Facility Charges 120,543 A2025 19,500
Other Home&Community Services Income 41,595 A2189 42,070
TOTAL Departmental Income 506,796 378,566
General Services, Inter Government 242,195 A2210 162,701
Programs For Aging,Other Govts 76,105 A2351 39,171
TOTAL Intergovernmental Charges318,300 201,872
Interest And Earnings 38,701 A2401 34,647
Rental of Real Property 183,018 A2410 167,691
TOTAL Use of Money And Property221,720 202,337
Bingo Licenses 618 A2540 593
Dog Licenses 7,432 A2544 7,588
Permits,Other 315,779 A2590 326,210
TOTAL Licenses And Permits 323,828 334,392
Fines And Forfeited Bail 168,148 A2610 284,814
Forfeitures of Deposits 825 A2620 500
TOTAL Fines And Forfeitures 168,973 285,314,
Sales of Scrap&Excess Materials 5,009 A2650 3,919
Sales,Other 40 A2655 40
Insurance Recoveries 143,784 A2680 145,562
TOTAL Sale of Property And Compensation For Loss 148,833 149,521
Reimbursement of Medicare Part D Exp 59,457 A2700 200
Refunds of Prior Year's Expenditures 35,115 A2701 3,595
Gifts And Donations 12,101 A2705 33,915
Employees Contributions 131,991 A2709
Unclassified(specify) 555 A2770 6,859
TOTAL Miscellaneous Local Sources 239,219 44,569
St Aid,Mortgage Tax 1,218,596 A3005 1,306,404
St Aid-Other(specify) 54,723 A3089 1,932
St Aid, Programs For Aging A3772 142,601
St Aid,Youth Programs 20,500 A3820 20,500
Page 5 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Results of Operation
Code Descr ptton. o j . 2014: 1 , EdpCode . 2015 =
Revenues
St Aid Emergency Disaster Assistance A3960 16,697
TOTAL State Aid 1,293,818 "1,46434:
Fed Aid Other Public Safety 19,247 A4389 100,729
Fed Aid,Transp Cap Proj 43,921 A4597
Fed Aid,Programs For Aging 111,743 A4772 57,417
Fed Aid,Disaster Assistance 13,285 A4785 11,315
Fed Aid,Other Home&Community Cap 6,481 A4997 26,291
Additional Description Prior period adjustment and pump out boat grant
TOTAL Federal Aid 194,676 195,752
TOTAL Revenues '27,434,304 27,575,921
Interfund Transfers 4,229,705 A5031 -161,102
TOTAL interfund Transfers 4,229,7005 -161,102,
TOTAL Other Sources 4,229,705 -161,102
TOTAL l etali Revenues And Other Sources 31,664,009 27,414,819
Page 6 QSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)QENERAL
Results of Operation
COO,Description [ae. -2014 .: ]L Edpcodei 2016 ,.
Expenditures
Legislative Board, Pers Sery 135,220 A10101 137,618
Legislative Board,Contr Expend 187,279 A10104 137,905
TOTAL Legislative Board 322,499 ' 276,524
Municipal Court, Pers Sery 408,103 A11101 527,208
Municipal Court, Equip&Cap Outlay 729 A11102 , 5,948
Municipal Court,Contr Expend 62,306 A11104 78,191
TOTAL.Municipal Court 471,137 611,347
Supervispr,pers Sery 233,869 A12201 240,878
Supervisor,equip&Cap Outlay 376 A12202 4,904
Supervisor,contr Expend 3,513 A12204
TOTAL Supervisor 237,768 , 245,782
Dir of Finance,Pers Sery 418,678 A13101 431,967
Dir of Finance,Equip&Cap Outlay A13102 1,094
Dir of Finance,Contr Expend32,430 A13104 23,338
TOTALDir of Finance 461,108. 456,399
Auditor,Contr Expend 130,950 A13204 88,250
TOTAL Auditor 130,960 : 88,250
Tax Collection,pers Sery 98,527 A13301 123,817
Tax Collection,equip&Cap Outlay A13302
Tax Collection,contr Expend 19,458 A13304 19,146
TOTAL Tax Collection 117,985 - 142,963
Assessment, Pers Sery 401,634 A13551 433,202
Assessment,Equip&Cap Outlay A13552 771
Assessment,Contr Expend 21,098 A13554 24,222
TOTAL Assessment 422,732 458,195
Clerk,pers Sery 431,037 A14101 344,190
Clerk,equip&Cap Outlay 290 A14102
Clerk,contr Expend 20,630 A14104 18,592
TOTAL.Clerk 451,957 362,782
Law, Pers Sery 382,066 A14201 371,326
Law, Equip&Cap Outlay A14202 449
Law,Contr Expend 51,719 A14204 33,452
TOTAL Law 433,786 406,228
Engineer, Pers Sery 165,770 A14401 184,965
Engineer, Equip&Cap Outlay 340 A14402 1,221
Engineer,Contr Expend 8,200 A14404 8,102
TOTAL Engineer .,.. 174
,311 �, 194,288
Records Mgmt, PerS.SerV 79,382 A14601 81,057
Records Mgmt,Equip&Cap Outlay21,508 A14602 1,999
Records Mgmt,Contr Expend 1,456 A14604 2,569
TOTAL.Records Mgmt 102;346 ., . 85,625
Public Works Admin, Pers Sery 169,955 A14901 179,541
Public Works Admin,Contr Expend 325 A14904 370
TOTAL Public Works Admin 170,279 179,911
Buildings, Pers Sery 795,113 A16201 778,401
Buildings, Equip&Cap Outlay 73,989 A16202 34,728
Page 7 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Results of Operation
Cade Descriptio „
n ,g,, _<: :, _ f 2014 ' EdpCode_J` . 2015
Expenditures
Buildings,Contr Expend 473,324 A16204 494,043
TOTAL Buildings " 1,342;426 mm 1,307,1.73
Central Garage, Equip&Cap Outlay A16402
Central Garage,Contr Expend 23,477 A16404 13,744
TOTAL•Centi 1Garage - _,._ ,.,..,. . .___ __._.. , �..,..n__._ _r , ,.. .,. ,M.,~.- ,,...a , .ww23,477 ,, ...�.. n, _,„;;,,,,13;74,±1
.,_.,,.13;74
Central Print&Mail, Equip&Cap Outlay 45,180 A16702 46,939
Central Print&Mail,contr Expend 35,686 A16704 31,561
TOTAL Central Print&Mail 80,865 >78,500:
Central Data Process,Pers Sery 205,874 A16801 217,059
Central Data Process&Cap Outlay 21,815 A16802 8,579
Central Data Process,Contr Expend 279,022 A16804 244,861
TOTAL Central Data Process ,M506,711 470,498
Unallocated Insurance, Contr Expend 361,974 A19104 347,190
TOTAL Unallocated Insurance.' -361,974 1,974 ''347'190,1
Municipal Assn Dues,Contr Expend 1,650 A19204 1,800
TOTAL Municipal Assn Dues_.. ._._„ , , 1,_650 1,800
Payment of Mta Payroll Tax,contr Expend 47,075 A19804 48,700
TOTAL Payment of Mta Payroll Tax •47,075 48,700
Other General Government,Pers Sery 100,999 A19891 101,743
Other Gen Govt Support,Equip&Cap Outlay 12,443 A19892 22,780
Other Gen Govt Support,Contr Expend 578 A19894 513
TOTAL Other Gen Govt Support, ''' 114,020 .: 125,0361
TOTAL General•Government Supports .._._ 5: '! L ,,65;043 _.... .. 5,898,93$'
Public Safety Comm Sys,Pers Sery 861,535 A30201 880,437
Public Safety Comm Sys, Equip&Cap Outlay 63,186 A30202 77,978
Public Safety Comm Sys,Contr Expend 35,439 A30204 35,029
TOTAL Public Safety Comm Sys ^M_ 960,160 mm v 993,444°
•
Police, Pers S.ery 7,480,745 A31201 7,799,888
Police, Equip&Cap Outlay 252,032 A31202 373,721
Police,Contr Expend 426,273 A31204 434,846
TOTAL Police", _•_.h..:..•, 8,159,050 8,608;455
Traffic Control, Equip&Cap Outlay A33102
Traffic Control,Contr Expen 12,328 A33104 12,135
TOTAL Traffic Control, ___.__. __..• 12,328 12,135=
Fire,Contr Expend 77 A34104 77
TOTAL Fire _ YV 77 77
Control of Animals,Contr Expend 217,484 A35104 217,484
TOTAL Control of ;_ ..._ .__.. _ _._ __._
.217,484 .. ._.217,484
Animals
Examining Boards, Pers Sery 6,567 A36101 6,474
Examining Boards,Contr Expend 6,608 A36104 5,678
TOTAL Exm
aining Boards, 13174 12152
Civil Defense,Contr Expend 1,408 A36404 92
TOTAL Civil Defense- ,.-_. _----
-.. ., . - - -"` _. `i,408 _ .---
_ _ ---
...
TOTAL Public ty
"Safe ..,=w `°`9,363,682 9,843,839
Public Health, Equip&Cap Outlay A40102 7,664
Page 8 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Results of Operation
Code Description ;, , " , ,„.:,..,- ':- - , : 2; F201477,q Edpcode F, >2015' -
Expenditures
Public Health,Contr Expend 300 A40104 300
.
TOTALPublic Health - '
, 300 7,964,
Narcotic Guid Council,Contr Expend 33,000 A42104 33,000
TOTAL Narcotic Guid Council - -'-- -' " ,.' ' - ' 33,000 33,000
--7-r'"--'''' ' .:-•.: , „ ; . , _ _
TOTAL Health
Street Admin, Pers Sery 311,832 A50101 321,484
TofACit"re StreetAdmin in ----7- .7:77,17---"7 ; --'"-- 311,832 ' -'-ii1,47841
Street Lighting, Pers Sery 62,787 A51821 65,042
Street Lighting, Equip&Cap Outlay A51822 42
Street Lighting,Contr Expend 113,815 A51824 109,071
_..
TOTAL,Street Lighting . ' 176,602 ' 174,156‘
,.„„..„
Off-Street Parking,Contr Expend 492 A56504 525
,
.,„ „.
TOTAL•Otf ,,
Street Parking - . ' 492, ,
TOTAL Transportation 488,925 496,164,
' _ .
Publicity,Contr Expend 40,000 A64104 40,000
TOTAL Publicity- ,
40,000 . ;"40,000f
Programs For Aging, Pers Sery 974,951 A67721 989,192
Programs For Aging,Equip&Cap Outlay 2,400 A67722 1,107
Programs For Aging,Contr Expend 262,479 A67724 240,435
:.,...„
TOTAL Programt For Aging .,1;236,830 ' 1,230,736.
TOULEConornic-Assistahcoiiild Opportunity ,- -;;:1,:,,. .:::‘:-,'Sr ''.- '7:--- --71,27965, - - -"' ''-- 1,270 735i
•
Recreation Admini,Pers Sery 84,772 A70201 86,000
Recreation Admini, Equip&Cap Outlay 489 A70202 1,374
Recreation Admini,Contr Expend 104,245 A70204 96,534
TOTAL Recreation Admini , ' c ' 189,5067 ' 183,9661
Special Rec Facility, Pers Sery 77,569 A71801 78,856
Special Rec Facility,Contr Expend 6,365 A71804 5,584
TOTAL Special Rec Facility „ . - • - - - 83,933` 84,440'
Youth Prog,Contr Expend 2,496 A73104 1,774
TOTAL iOnthPro97 - -:- 1 - ' ."--- :'''; ";-,-; '7-'-- --7,---,:-;-,77- -2;44:077. .;-7 --7-1,774=
,.....,,i,;.. . ...4_
Historian,Pers Sery 18,755 A75101 19,036
TOTAL Historian 18,755 .19,036:
Historical Property, Pers Sery 4,000 A75201 4,000
Historical Property,Contr Expend 17 A75204 1,899
TOTAL Historical Property o17 5,900;
4t ,
-., .,„.„.
Celebrations,Contr Expend 1,000 A75504 1,246
TOTAL Celobraticins 1,066 1;2461
, .. _ .. _ .
-,
TOTAL&Kure And Recreation ' .; 299,76a ,-.-3,, 296,383;
.
Environmental Control, Pers Sery 191,614 A80901 189,595
Environmental Control, Equip&Cap Outlay 310 A80902 200
Environmental Control,Contr Expend 42,778 A80904 21,398
TOTALEnvironniental Control -.• , _ 234,702;, : __ m 211,193j
„
Shade Tree, Pers Sery 1,680 A85601 1,299
Shade Tree,Contr Expend 6,207 A85604 12,155
TOTAL tree; N ' ' „7 . 3,454i
•
Page 9 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Results of Operation
Code.Descriptlini , ;W:ZY 2614''';,k7f. Edpcode 2015
Expenditures
Conservation,Equip&Cap Outlay 130 A87102
Conservation,Contr Expend 1,627 A87104 844
fthACConseivitfon"---77 -1j57 - 844
Fish And Game,Contr Expend 30,000 A87204 30,000
TOTAL Fish,And Game 30,000 30,000,
Cemetery,Contr Expend 6 A88104 6
TQTALCemeter — s'
Misc Home&Comm Serv, Pers Sery 80,294 A89891 112,323
Misc Home&Comm Serv, Equip&Cap Outlay A89892
Misc Home&Comm Serv,Contr Expend A89894
TOTAL Misc Horni3/4.CommSerit:,: ,A 80294_ 112,323,
foTAL Woiiid,And community 354,646 387,820
State Retirement System 1,311,397 A90108 1,243,332
Police&Firemen Retirement, Empl Bnfts 1,507,786 A90158 1,768,737
Social Security, Employer Cont 968,775 A90308 1,001,559
Worker's Compensation, Empl Bnfts 231,233 A90408 248,688
Unemployment Insurance, Empl Bnfts 17,266 A90508 21,099
Disability Insurance,Empl Bnfts 302,664 A90558 324,830
Hospital&Medical(dental)Ins, Empl Bnft 5,911,354 A90608 3,668,529
Other Employee Benefits(spec) 71,715 A90898 66,452
fOTALEmployee0anefifs' 710,322,189 8,34027
Debt Principal,Serial Bonds 513,400 A97106 497,200
Debt Principal,Bond Anticipation Notes 62,980 A97306 212,000
Debt Pritic* 769,i6S
Debt Interest,Serial Bonds 158,560 A97107 144,118
Debt Interest,Bond Anticipation Notes 643 A97307 5,371
forfAi;156131 Iriteret,1 169,263 149,490i
TOTAL s 28,842,907 • 27,416,673,
Transfers,Other Funds 3,064,993 A99019 465,613
Additional Description Includes-$116,640 prior period adjustment
TOTAL Operating 3,064,993 465,613,
1-7,9T4:Other Uses7:: 3,064,993 465,5157
rn
TOTAL Detail Expenditures And Other Uses 31,96,899 , 27,882,286
Page 10 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Analysis of Changes in Fund Balance
Code.Description ., 2014 dpCadeT_�.q ‘20M
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 8,823,312 A8021 8,579,421
Restated Fund Balance-Beg of Year 8,823,312 A8022 8,579,421
ADD-REVENUES AND OTHER SOURCES 31,664,009 27,414,819
DEDUCT EXPENDITURES AND OTHER USES 31,907,899 27,882,286
Fund Balance-End of Year 8,579,421 A8029 8,111,955
Page 11 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Budget Summary
bode'Descripti=on'4... ,.:,),'',74,-'','Pe';!':`,1')" • „ , , ` 2015: ,:',.1:::)';''" •,''.[4pCodW.. ",-2016',, " ... ''.
Estimated Revenues
Est Rev-Real Property Taxes 23,191,122 A1049N 23,991,479 ,
Est Rev-Real Property Tax Items 90,000 A1099N 71,300
Est Rev-Non Property Tax Items 1,019,873 A1199N 1,154,273
Est Rev-Departmental Income 368,900 A1299N 425,823
Est Rev-Intergovernmental Charges 497,577 A2399N 527,956
Est Rev-Use of Money And Property 236,000 A2499N 210,000
Est Rev-Licenses And Permits 276,535 A2599N 302,535
Est Rev-Fines And Forfeitures 185,500 A2649N 185,500
Est Rev-Sale of Prop And Comp For Loss 81,000 A2699N 131,000
Est Rev-Miscellaneous Local Sources 32,175 A2799N 14,175
Est Rev-State Aid 1,120,500 A3099N 1,355,500
Est Rev-Federal Aid 12,500 A4099N 204,746
TOTAL:Estimated Revenues __. .M.., __ _ _ 27019,662 28,574,287_
Estimated-Interfund Transfer -63,000 A5031 N 542,000
Appropriated Fund Balance 3,505,000 A599N 2,000,000
;TOTAL>Estimated Other Sources,` 777. -7-'
,• <''., ' - 7.m 3;442,6007- ,,-,;:".'r.
,r a:".° - ';77 - X12,542,000- i
TOTAL Estimated Revenues And Other Sources ,, : ° ^„ _,_ . 30,553,682 , 31,116,287
Page 12 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(A)GENERAL
Budget Summary
Cade Description.. :` tt "`° 2015 L.� "EdpCiide°
Appropriations
App-General Government Support 6,843,135 A1999N 7,151,829
App-Public Safety 10,325,845 A3999N 10,451,475
App-Health 34,800 A4999N 33,300
App-Transportation 529,900 A5999N 577,302
App-Economic Assistance And Opportunity 1,500,610 A6999N 1,414,140
App-Culture And Recreation 324,510 A7999N 358,560
App-Home And Community Services 399,943 A8999N 367,431
App-Employee Benefits 9,095,732 A9199N 9,170,800
App-Debt Service 858,700 A9899N 763,200
TOTAL Appropriations „' W 28,913,175 30,288,0_37,
App-Interfund Transfer 640,507 A9-999N 828,250
TOTAL Qther Uses64
0,507 -828,250
TOTAL Appropriations And Other Uses rc ' . 30,553,682 31,116;287 `v
Page 13 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(B)GENERAL TOWN-OUTSIDE VG
Balance Sheet
Oode Description ' ' , „-1 . ,Edpeociejr 2015, ,
Assets
Cash In Time Deposits 1,011,311 B201 862,963
TOTALCash s "1,011,311 862,963
Accounts Receivable 156,019 B380 1617536
TOTAL Otfier Receivables,(net) : ' 7166,019 , i51530
Due From State And Federal Government 62,863 B410 62,359
TOTAL State And Federal Aid Receiyabiei . ` 62;863 '62,359
- --
Due From Other Funds 154,823 B391 163,637
TOTAL Due From Other FUnds, • 1 154,823 163,637
"
Prepaid Expenses 71,735 B480 71,080
TOTAL Prepaid Expenses - 71,735 '71,6861
TOTAL Asse‘and Deferred Outflows of Resources ' 1 456,752
1 311,570!
. „
Page 14 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(B)GENERAL TOWN-OUTSIDE VG
Balance Sheet
,ode,,DeseriptiOn „ • .; „.' „ EdpeOde 2015 A
Accounts Payable 18,338 B600 25,729
TOTAL Account Payable _ _ 1. 10,3,30
Due To Other Funds B630
toTAc:Dy-e To'Oftier Funds ----
TOTAL Liabilities " •, - 18,338, '" 25,729
Deferred Inflows of Resources
Deferred Inflow of Resources 100,379 B691 137,448
TOTAL ReSolirC'es7 — ip6;170---
. i3744
OTAL Deferred Inflows of Resources 100,379 " "7 - ' 137,44
Fund Balance
Not in Spendable Form 71,735 B806 71,080
TOTAL NospendabFdalance 77-7— ‘7, 7- —-41;60
Assigned Appropriated Fund Balance 570,000 13914 340,000
Assigned Unappropriated Fund Balance 696,300 B915 737,312
TOTAL Aisigned Fund Balance , f;260100
•
133 1,077,312
8OFund Balance 1•:331.3036 1,148,392
TOTAL Liabilities,Deferred Inflows And Fund Balance 1,456,7521 341 576'
Page 15 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(B)GENERAL TOWN-OUTSIDE VG
Results of Operation
Ede description 2414 EdpCode .. • 2015
Revenues
Real Property Taxes 669,307 81001 292,716
TOTAL Real Property Taxes 669,307 292,716
Other Payments In Lieu of Taxes 1,053 B1081 288
Interest&Penalties On Real Prop Taxes 15 B1090 5
TOTAL Real Property Tex Items __.x._. ,_.•_ .._• _. 1,069 _.. .e .... 293
Franchises 612,931 B1170 624,435
TOTAL Non perty fax Items; 612,931 624,435=
Other General Departmental Income 8,550 B1289 9,060
Safety Inspection Fees 567,705 B1560 543,227
Public Health Fees 17,254 B1601 15,162
Zoning Fees 107,000 B2110 73,250
Planning Board Fees 131,999 B2115 97,672
TOTAL Departmental Income ' '832,507 T31061
Interest And Earnings 3,013 B2401 2,222
TOTAL Use of Money And Property •. ._ -1..s2,-71777
.n.... _-.--. ._7
'3,013 7"
µ-,.. .•_w ----2,7212.1
_..2,222.1
Permits, Other 10,850 B2590 11,150
TOTALLicenseswAndPermits' _...___. W,_._. 1O,850 mm„ '•11,150,
St Aid,State Revenue Sharing 88,328 B3001 88,328
St Aid,Planning Studies 60,551 B3902 21,302
TOTAL State Aid _.... .. . .m mm •_. .. : -148,879 109,6301
TQTAL Revenues_.. 2,278,656 1,778,817;
TOTAL Detail Revenues And Other Sources 2,278,556 ... 1,778,817,
Page 16 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(B)GENERAL TOWN-OUTSIDE VG
Results of Operation
g�,.. I~dpGode 2015
Cotle:Descrt tion `,� ���;:" ., x;-;.� .
Expenditures
Law,Pers Sery B14201 4,993
Law,Contr Expend 22,975 B14204 30,095
TOTAL.Lavu�... . 22,975 35w0�89�
_.._._ _ „__..._. .... ..., _
Payment of Mta Payroll Tax,Contr Expend 4,040 B19804 4,218
TOTAL Payment of.Mta.Payroll T . �`• 4
� _..�. •r ° .. • 4,04Q_.. :s.M._..�., .. 4, 182
TOTAL.General-Government Support : • g ow 27,0#5 _ 39,3071
Safety Inspection, Pers Sery 535,809 B36201 572,698
Safety Inspection,Equip&Cap Outlay B36202
Safety Inspection,Contr Expend 13,769 B36204 13,238
TOTAL Safety`IrispectiatV ..�•. ' _.�_. .__... a,;.,�. .�...,,.,. �--._��...•.,.�..- ..
°:$ 549,578 585,936
Misc Public Safety,Pers Sery 570 B39891 921
TOTAL Misc Pub c iiiSafetyr 570, .. __.,... ,.__ �„,,.. .. ,;_. _.~.. __.• .,�. . .. __. __.._,.. �, ..,,„.., .s
_.s..
TOTAL Public Safety.. • . .,.. '550;1,48:::. ° .' " .:.'586,857 j
Zoning,Pers Sery 157,837 B80101 182,457
Zoning, Equip&Cap Outlay B80102 90
Zoning,Contr Expend 13,716 B80104 4,810
TOTALZoning ... ... ._.•_. W•_ 171,553•,0. 187357`
Planning, Pers Sery 500,011 B80201 496,523
Planning, Equip&Cap Outlay 385 B80202 237
Planning,Contr Expend 44,193 B80204 53,467
TOTAL Planning n . •,.. . .,. 544,590 , 558>228
TOTAL Home And Community Services ' , p s. 116043 '737,6841
State Retirement, Empl Bnfts 176,910 B90108 174,415
Social Security, Empl Bnfts 90,778 B90308 95,101
Worker's Compensation, Empl Bnfts 11,719 B90408 12,604
Unemployment Insurance, Empl Bnfts B90508
Disability Insurance, Empl Bnfts 28,793 B90558 33,409
Hospital&Medical(dental)Ins, Empl Bnft 690608 304,515
Qther Employee Benefits(spec) 6,147 B90898
TOTAL Employee Senefits. >r L<, ,, 314,347 620,043
: ... �.:... ._�.. �..
TOTAL Expenditures -;: '!,607,853.' 1,983,791',
Transfers,Other Funds 352,306 B99019 -15,331
TOTAL Operating Transfers, 352,306 , -15,331'
TOTALOthr
eUses .�_
`-5 352,305
TOTAL Oetad Ex"j ditures And Other Uses M 1 959 959
•
{ 1,868,461';
Page 17 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(B)GENERAL TOWN-OUTSIDE VG
Analysis of Changes in Fund Balance
Code"Description , ' ::; 24)14. ' .=•EdpCode< [" :2015;
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 1,019,439 B8021 1,338,036
Restated Fund Balance-Beg of Year 1,019,439 B8022 1,338,036
ADD-REVENUES AND OTHER SOURCES 2,278,556 1,778,817
DEDUCT-EXPENDITURES AND OTHER USES 1,959,959 1,968,461
Fund Balance-End of Year 1,338,036 B8029 1,148,392
Page 18 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(B)GENERAL TOWN-OUTSIDE VG
Budget Summary
ode Description it 2015' 1[ dpcode 2016
Estimated Revenues
Est Rev-Real Property Taxes 292,716 B1049N 481,428
Est Rev-Real Property Tax Items 1,020 B1099N 130
Est Rev-Non Property Tax Items 565,000 B1199N 625,000
Est Rev-Departmental Income 670,150 B1299N 764,200
Est Rev-Use of Money And Property 2,500 B2499N 2,000
Est Rev-Licenses And Permits 11,200 B2599N 11,400
Est Rev-State Aid 88,000 B3099N 88,328
TOTAL Estimated Revenues 1630,586 1,872,486
Appropriated Fund Balance 570,000 B599N 340,000
TOTAL Estimated Other Sources 670,000 340,000
TOTAL Estimated Revenues And Other Sources 2400,586 Z312,486
Page 19 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(B)GENERAL TOWN-OUTSIDE VG
Budget Summary
Code Description„ 6 - 2015 ... [_ dpOode" 2016
Appropriations
App-General Government Support 85,500 B1999N 215,250
App-Public Safety 631,970 B3999N 537,770
App-Home And Community Services 794,064 B8999N 846,466
App-Employee Benefits 725,472 B9199N 698,000
TOTAL Appropriations` :.., .,_ .: 2,237,006 mm _. ^ 2,297,486°
App-Interfund Transfer -36,420 B9999N 15,000
TOTAL Other Uses .. .,°" W-36;420 e 16;00C.
TOTAL Appropriations And Other Uses 2,2000,586 • 2,312,486
Page 20 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CD)SPECIAL GRANT
Balance Sheet
Code Description h s ]r.;s-. .,.2014 1[ EdpCode'] ",; " 2015
Assets
Due From State And Federal Government 43,145 CD410 21,440
TOTAL State And Federal Aid Receivables z.: 43,145 2440'
TOTALAssets and Deferred"Outflows of Resources °° 43,145 21,440
•
Page 21 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
'(CD)SPECIAL GRANT
Balance Sheet
• EdpCad . 2015
Accounts Payable 35,145 CD600 21,440
ke:e.90*.Pii0W:
Due To Other Funds 8,000 CD630
rOTALDueToOtherFunds ' 7n77 ‘8,000' ,'-":7770
TOTAL Liabilities. " „, 43,14
TOTAL Liebiiities,Deferred Inflow;Aildftind.balan'ce ‘,43;14521,440,
Page 22 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CD)SPECIAL GRANT
Results of Operation
pode;Des6rijition:c'" 7 `, :p314 1 ,Edpentisii6
Revenues
Fed Aid,Community Development Act 140,593 CD4910 52,539
TOTAL Feiieral Aid 7
0593 52,539
„. • • — _
7
NOTAL ReIr!r;u'es- . --." 140,593 ' 62,639'
TOTAL Detail ReirenuesApqOtherqurc9sv _ 140;593_ '52;5391
Page 23 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CD)SPECIAL GRANT
Results of Operation
: r;' 2014 Ec115,Coci6
Expenditures
Prov of Public Service,Contr Expen 140,593 CD86764 52,539
TOTAL Prov of Public Service ' ; 77' —7-; 149:593: 52,539
TOTAL Home And Community en&ai „ 140,593 52,539
TOTAL Expenditures ; • 140,593. 52,539:
TOTAL be all Expenditures And Other Uses ; 14o,s9a, 646.39)
Page 24 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CD)SPECIAL GRANT
Analysis of Changes in Fund Balance
pose Description 2014, LEdpCode , > . :.2015 ..
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year CD8021
Restated Fund Balance-Beg of Year CD8022
ADD-REVENUES AND OTHER SOURCES 140,593 52,539
DEDUCT-EXPENDITURES AND OTHER USES 140,593 52,539
Fund Balance-End of Year CD8029
Page 25 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CM)MISCELLANEOUS SPECIAL REV
Balance Sheet
Oede.t*criptign,';':. 't, — , [ , 2014„ :±22016,:,, 1
Assets
Cash In Time Deposits 11,044,890 CM201 14,148,808
TOTAL Cash ---'3'. 11,044,890 :14,148661
Accounts Receivable 41,858 CM380 712
TOTALOttier`fleeivibtes
(net), 41,858' 712
Due From State And Federal Government 527 CM410 18,270
70TACitate And Federal Aid Receivables '527 18,270
Due From Other Governments 572,654 CM440 656,106
fOTAI, DnerOm Other Governments . .572,654 • 656,1061
jtOTAL d7--6ei;1146 lies- 961
Page 26 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CM)MISCELLANEOUS SPECIAL REV
Balance Sheet
Code Description „. 2014'
Accounts Payable 27,513 CM600 26,894
TOTAL AccountsPap* — — ' ' - 27,513 '--261614,
•41,1,4'
FiAL Liabilities ,„ „ „27,613 „ 26,84
Fund Balance
Assigned Appropriated Fund Balance 4,456,950 CM914 6,204,000
Assigned Unappropriated Fund Balance 7,175,466 CM915 8,593,002
l'OTALAssign0 Fund Balance ' ° 11,632,416 14;797;002
— „
TOTAL Fund Balance „ , - . 11,632,416 , , 14,797,6i
44„. • - -
TOTAL Liabilities,Defeiredliitiewi And Fundiialance , ' 11,659,928 14,823,896;
Page 27 OSC Municipality Code 470379000000
•
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CM)MISCELLANEOUS SPECIAL REV
Results of Operation
Code=Descriptioir ; • r •- ,-, 201'4;k w, EdpCode ° :'2015_
Revenues
Misc Revenue,Other Govts 6,060,255 CM2389 6,464,184
'< m a & 6265 TOTAL IntergovernmenalCharges • X , 4
Interest And Earnings 18,407 CM2401 14,879
TOTAL Use of Money.And-Propertyr .. .._. ._ ._ _
14,87911
State Aid,Other CM3089 12,824
Additional Description SEMO aid
St Aid-Other Home And Community Service 527 CM3989
TOTAL State,Aid 527 12,824
Federal Aid,Other 2,602,246 CM4089 4,919
Additional Description FEMA aid
TOTAL;Federal Aid
2,682,246:
. .,. _ ., _ . ��. .. 2,602,;.246' .
4,9191
.TOTA.Revenues
6,496,8061
TOTAL Detail Revenues And Ot
her Sources ..% M_.�.. .a.._...,.w. 8,6$1,434k:. 6,496,8061
Page 28 OSC Municipality Code 470379000000
.... ____
. .
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CM)MISCELLANEOUS SPECIAL REV
Results of Operation
„ .,
codepesoliption , „ ,, , 2!%•,,•;•,-. `,,A;, • ',•' .. ' • ,.:.; ' ''..2014 , 1;4Edpeode 1„',?2015,-
Expenditures
Payment of Mta Payroll Tax,Contr Expend CM19804 582
--;"-Y - •:,
TOTAL Payment of Mta Payroll Tax 0' . 582
TOTACaerwatdoiemm.enOuppori , - , ..1z,,, ._,I.,), -,,,_., -, ,,- ,'-- ,, - q ., , ' 5821
Other Home And Community Service-Pers Sery CM89891 172,761
Other Home&Comm-Equip&Cap Outlay , 5,216,999 CM89892 800,592
Other Home And Community Service-Empl Bnft CM89898 13,093
TOTAL Other Home And Community Service-Empl Bnft 5,216,999,: • ' ' 986,446
,.....
•- - • ,---:- ,:-'-'4"ii;""- .— . .*. „..
TOTAL Home Al-Community Services 5,216,999 , , 986,446
,.., _ _..
Serial Bonds, Principal 1,297,300 CM97106 1,338,500
TOTAL Debt PrinCipal ‘,.- ,. .• , ,1297,300 :.1,338,600i
Debt Interest,Interest,Serial Bonds 1,051,812 CM97107 1,006,692
TOTAL Debt Interest . . .:= .„ 1,051,811; 1;00e,692
„
. , ;,, .1.7„,,,
TOTAL Expenditures• ' ' " --,:., . ' : -- ,, ., , ,,7,569,111,, ''' 3,332 220)
,
—
TOTAL Detail And Other Uses : - f,666,i1f ,ii2,22o!
... ..„......_ _..... ,.„.„ ... ... ...
Page 29 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(CM)MISCELLANEOUS SPECIAL REV
Analysis of Changes in Fund Balance
Code Descriptidri"` 2014:=. EdpCode 2015 .
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year CM8021 11,632,416
Prior Period Add-Increase In Fund Balance 10,517,092 CM8012
Restated Fund Balance-Beg of Year 10,517,092 CM8022 11,632,416
ADD-REVENUES AND OTHER SOURCES 8,681,434 6,496,806
DEDUCT-EXPENDITURES AND OTHER USES 7,566,111 3,332,220
Fund Balance-End of Year 11,632,416 CM8029 14,797,003
Page 30 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(DB)HIGHWAY-PART-TOWN
Balance Sheet
odde Description 20114., EdpCode 2015.
Assets
Cash In Time Deposits 667,341 DB201 595,314
TOTAL Cash 667,341 595,314
Accounts Receivable 253 DB380 47
TOTAL Other Receivables(net) 253 47
Due From State And Federal Government 260,034 DB410 36,059
TOTAL State And Federal Aid Receivables 260,034 36,059
Due From Other Funds 1,063,265 DB391 1,173,898
TOTAL Due From Other Funds 1,063,265 1,173,898
•
Prepaid Expenses 165,309 DB480 169,329
TOTAL Prepaid expenses 165,309 - 169,329
TOTAL Assets and Deferred Outflows of Resources 2,156,203 1,974,648
Page 31 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(DB)HIGHWAY-PART-TOWN
Balance Sheet
Pod
e Description , ';',%;,A .,: - ,, ..'2014' EdpCade. • 2915
Accounts Payable 80,001 DB600 132,311
iTOTALAccounts Payable 7' - M ._. , .__..,_. .. ; .,. v�..; ----._- u<L..., 8(001 ,••' ,e 132, '.1
Due To Other Funds 31,735 DB630 23,622
TO.TAL Due To O_therFunds „ ;w ;
s„ ,,'31,735 23,622
Due To Other Governments 160 DB631 160
TOTAL To rQther-Governments . :`p ' ;-,+q 160 !k` . •_... ,160
TOTAL Liabilities—, I. . : 111;896 4 ' . - 156,093
Deferred Inflows of Resources
Deferred Inflow of Resources 1,001,177 DB691 1,171,556
TOTAL Deferred Inflows of Resources 1,001,177 .;1,171,556
TOTAL.Deferred.Inflows of Resources 4,.^kµ ' ,"4p•"",i '_' 1,001,177 '= -• '1,171,556'
Fund Balance
Not in Spendable Form 165,309 DB806 169,329
ITOTAL Monspendabig Fund Balance 165,309 169,329
Assigned Appropriated Fund Balance 460,640 DB914 , 250,440
Assigned Unappropriated Fund Balance 417,180 DB915 227,231
,TOTALAssigned.Fund Balance '• ' -a _:877820 X47'7,67'1, I
TOTAL Fund Balance• ' . . , ', . '1,043,,130• - 647,000;
,
..�_..:_ ... ....,._.,,__...-,.._;...;.,.,,.�-te ._ _ .: ....�
NOTAL Liabilities,Deferred Inflows And Fund Balance " 2,156,203 1,974,648;
Page 32 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(DB)HIGHWAY-PART-TOWN
Results of Operation
Code,Description :. ' , ,• ] n 2014 , <1 LEdpCode 2015.. -
Revenues
Real Property Taxes 4,719,206 DB1001 4,641,266
TOTAL Real•Property Taxes, mm •._. _ _a , 4,719,206 4;841,266;
Other Payments In Lieu of Taxes 7,423 DB1081 4,564
Interest&Penalties On Real Prop Taxes 109 DB1090 77
TOTAL Real Property Tax Items , 7,532 =gam 4,641,i
Interest And Earnings 7,927 DB2401 5,579
TOTAL Use of MoneyAnd•Property __. .._._ .7,927 5,579;
Permits,Other 20,821 DB2590 15,737
TOTAL Licenses And Permits _._._ ,> Mm 20,821 Y '=15,737
Sales of Scrap&Excess Materials 32,127 DB2650 7,954
Insurance Recoveries 1,054 DB2680
TOTAL Sale of Property,:-And Compensation For,Loss• M •33,131-1:17:::: ,Z,t..'711":7,9-641
Refunds of Prior Year's Expenditures DB2701 8,500
TOTAL Miscellaneous Local Sources ." 0 TT8,500¢
St Aid,Consolidated Highway Aid 389,982 DB3501 562,220
St Aid Emergency Disaster Assistance 1,223 DB3960 81,858
TOTAL'State Aid.—_. 391,204 _ 644,078J
Fed Aid,Emergency Disaster Assistance 12,735 DB4960 69,196
TOTAL Federal AidTY12,735 69,196
TOTAL Revenues __.. ' __., •
_� •5,192,607-' �.._ 5,396,951
Interfund Transfers 23,754 DB5031 19,953
TOTAL InterfundTransfers „_. ___ .. 23,754 '19,953
•
TOTAL Other Sources .,_. M ' ' ,23 754. .__. , _ . 19,958
TOTAL Detail Revenues And Other Sources 5,216,361 5,416,904;
Page 33 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(DB)HIGHWAY-PART-TOWN
Results of Operation
Code Description,::-.-,;..,..4::,...,,,:',:1,:,-...,.',•w; . , °° >•.. r 'N' '• :l_: 'ri... r ,,,2014,,::.' '[ EdpCode' ' 2015: -:�•,
Expenditures
Administration-Contractual 62 DB17104 46
TOTAL Administration Contractual ' 62 _ ''46,i
Payment of Mta Payroll Tax,Contr Expend _ 7,153 DB19804 7,416
TOTAL Payment of Mta Payrolt Tax " .. • 7,153 7,416'
TOTAL General Oovemrroent Support , 7,215 _ .___., ,,7,462,
Maint of Streets, Pers Sery _ 1,478,199 DB51101 1,372,470
Maint of Streets,Contr Expend 484,823 DB51104 710,970
TOTAL Maint of Streets 1,963,021 2,083,440
Perm Improve Highway, Equip&Cap Outlay 389,982 DB51122 562,220
TOTAL Perm Improve Highway. µ 389,982 _ ..__.. __.. 562,220
Machinery,Pers Sery 341,300 DB51301 377,445
Machinery,Equip&Cap Outlay 106,966 DB51302 135,121
Machinery,Contr Expend 167,021 DB51304 187,868
TOTAL Machinery ' 615,288 700,434
Brush And Weeds, Pers Sery 94,487 DB51401 142,918
Brush And Weeds, Equip&Cap Outlay 694 DB51402 106
Brush And Weeds,Contr Expend 69,857 DB51404 57,611
TOTAL Brush And Weeds 165,037 w , , ' 200,635'
Snow Removal, Pers Sery 183,111 DB51421 335,192
Snow Removal,Equip&Cap Outlay 808 DB51422 8,808
Snow Removal,Contr Expend 220,122 DB51424 190,771,.
TOTAL,Snow Removal R , s 404,041 ' 534,77.1
TOTAL Transportation 0 ' 3,537,370 rc . • _. .=4,081,500
State Retirement,Empl Bnfts 414,303 DB90108 404,479
Social Security,Empl Bnfts 158,374 DB90308 168,166
Worker's Compensation,Empl Bnfts 155,220 DB90408 166,937
Disability Insurance, Empl Bnfts 61,688 DB90558 62,403
Hospital&Medical(dental)Ins,Empl Bnft DB90608 903,597
TOTAL Employee Benefits __. 789,586 w 582
1,705,
Debt Principal,Serial Bonds 70,000 DB97106 65,000
Debt Principal,Bond Anticipation Notes 53,000 DB97306 129,737
TOTAL Debt Priricipai '_. . ._..• ... M .H _.�.. ' - -7/7^
. ^1,23,000. . '. - -- ., 194,737,
Debt Interest,Serial Bonds 23,713 DB97107 22,490
Debt Interest, Bond Anticipation Notes 861 DB97307 7,039
TOTAL Debt Interest ' ' '. • -, 24,573 _. 29,530,
TOTAL Expenditures 4,481,744 6,018,811
Transfers,Other Funds 915,397 DB99019 -205,777
TOTAL Operating Transfers: "--'' ., • ' M- 915;397 . • . -205,777.1
TOTAL Other Uses _.__._ ' 918,397 -206,777W
TOTAL Detail ExpendituresµAnd Other Uses 5,397141 • 5,813,034;
Page 34 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(DB)HIGHWAY-PART-TOWN
Analysis of Changes in Fund Balance
Code Description ., 2014 , . t dpCvde3 • '2015 $°
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 1,223,909 DB8021 1,043,130
Restated Fund Balance-Beg of Year 1,223,909 DB8022 1,043,130
ADD-REVENUES AND OTHER SOURCES 5,216,361 5,416,904
DEDUCT-EXPENDITURES AND OTHER USES 5,397,141 5,813,034 .
Fund Balance-End of Year 1,043,130 DB8029 647,006
Page 35 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(DB)HIGHWAY-PART-TOWN
Budget Summary
Code Description.:
�,•2ili 5„•A',�,; -j EtlpCade
Estimated Revenues
Est Rev-Real Property Taxes 4,641,266 DB1049N 5,263,180
Est Rev-Real Property Tax Items 7,700 DB1099N 1,825
Est Rev-Use of Money And Property 9,500 DB2499N 6,000
Est Rev-Licenses And Permits 10,000 DB2599N 12,000
Est Rev-Sale of Prop And Comp For Loss 1,500 DB2699N 1,000
Est Rev-State Aid 420,619 DB3099N 422,755
TOTAL Estimated Revenues,,,„ 5,090,585_,x__... 5,706;760:
Appropriated Fund Balance 460,640 DB599N 250,440
TOTALEstimated Other Sources = 460,640_ 250,440
TOTAL Estimated Revenues°And Other Sources= 5,551,225 5,957,200
Page 36 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(DB)HIGHWAY-PART-TOWN
Budget Summary
FCode Description,,; `, a 2018 . EdpCode 2016 ,
Appropriations
App-Transportation 3,659,637 DB5999N 3,744,888
App-Employee Benefits 1,829,000 DB9199N 1,884,997
App-Debt Service 225,790 DB9899N 217,315
,TOTAL Appropriations _ u 5,714,427 5,847,200 Ww
Intel-fund-Transfers -163,202 DB9999N 110,000
TOTAL Other,Uses "
�. w.....�,202 11
.�. - ..._ .. 0,000
TOTAL Appropriations And Other Uses 5,551,225 5,957,200
Page 37 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(H)CAPITAL PROJECTS
Balance Sheet
Code Description, 2014 . • EdpCode'_ , 2015
Assets
Cash In Time Deposits 1,648,252 H201 932,450
TOTAL Cash •r 1,648,252- 932,450
Accounts Receivable 302 H380 121
TOTAL Other Receivables(iiet. n_302 ' ------
..___. 1211
Due From State And Federal sGovernment .._ 560,531_ H410 1,166
TOTAL State And Federal Aid Receivables :'
............._..�.._ W .. _.. __. :...__...._. 560,531 __. . 1,166
Due From Other Funds 355,262 H391 332,518
TOTAL Due From Other Funds ,,._ 355;262 332,511.
Due From Other Governments H440 34,993
TOTAL Due Froin Other Governments•
r.< ' _. __ ---'7'---
, .tl___ E
.0, 34;993
TOTALAsset`sand Deferred Outflows ofResourcesM .-.,.r -2,564,348 1,301,24
Page 38 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(H)CAPITAL PROJECTS
Balance Sheet
code Description;, - _ 2014 EdpCode 2015 ' f
Accounts Payable 464,205 H600 110,908
TOTAL Accounts Payable 464,205 _ 110,908
Bond Anticipation Notes Payable 2,959,000 H626 3,529,000
TOTAL Notes Payable2„959,006 3,529,000
Que To Other Funds 587,828 H630 1,166
TOTAL Due To Other Funds 587,828 _ 1,166
TOTAL Liabilities 4,011,034 3,641,074.
Fund Balance
Assigned Appropriated Fund Balance 2,545,614 H914 4,378,756
Assigned Unappropriated Fund Balance 1,515,605 H915
TOTAL Assigned"Fund Balance 4,061,219 4,378,736
Unassigned Fund Balance -5,507,905 H917 -6,718,582
TOTALiinassigned Fund Balance -5,607,905 »6,718,582
TOTAL Fund Balance -1,446,686 -2,339,826
TOTAL Liabilities,Deferred inflows And Fund Balance 2,564,348 1,301,248'
Page 39 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(H)CAPITAL PROJECTS
Results of Operation
ode Description ] "2014 .EdpCode2015.
Revenues
Misc Revenue,Other Govts -9,498 H2389 77,711
•
TOTAL Intergovernmental Charges -9,498 77,711'
Interest And Earnings 1,982 H2401 1,986
TOTAL Use of Money And Property 1,982 1,986
Premium&Accrued Interest On Obligations H2710 29,095
TOTAL Miscellaneous Local Sources •
0 29,095
St Aid-Other Home And Community Service 133,883 H3989 49,985
TOTAL State Aid 133,883 49,985
Fed Aid-Cap Projects H4097
Fed Aid,Emergency Disaster Assistance H4960 116,640
Additional Description Prior period adjustment
Fed Aid,Other Home&Community Cap 1,652,332 H4997
TOTAL Federal Aid 1,652,332 116,640
TOTAL Revenues 1,778,700 275,417
Interfund Transfers 369,288 H5031 349,910
Additional Description Includes-$116,640 prior period adjustment
' TOTAL Interfund Transfers369,288 349,910
Bans Redeemed From Appropriations 326,395 H5731 601,737
TOTAL Proceeds of Obligations 326,395 601,737
TOTAL Other Sources 695,683 951,647
TOTAL Detail Revenues And Other Sources 2,474,383 1,227,064
Page 40 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(H)CAPITAL PROJECTS
Results of Operation
[Code Description.,. , , -,' . . s 4.-,. . . .. 'e , . . 20 4:„,:,71,'EdpCode... T1 '2015.
Expenditures
General Govt, Equip&Cap Outlay 517,312 H19972 1,722,484
TOTAL Genesi Govt . 517,312 1,722,484•
TOTAL General Government Support 517,312 , 1,722,484`
Public Safety Cap Proj 21,354 H30972 20,286
TOTAL Public Safety Cap Proj °21,354' 25,286
TOTAL�Public Safety .. y _.w ry Tm w 21,354 20;286 i
Perm Improve Highway, Equip&Cap Outlay 768,948 H51122 328,725
TOTAL Perm Improve Highway 768,948 • , ,,328725
TOTAL Transportation . ' ° - , • ' ,. 768,948 328;725
Economic Dev, Equip&Cap Outlay � •- u � "--.�..,...„_._._.,_M. .--.-. ---• --•----•-• - .__ 29,111 H64972 28,999
TOTALEconomicDev •
_. .... . _ _. .29,111 __._.. 28,999
TOTAL Economic Assistance And Opportunity " . ' ' '29;111 28,999,
Sanitation,Equip&Cap Outlay H87972.; 2,817
TOTAL Sanitation 0 2,817
Misc Home&Comm Serv, Equip&Cap Outlay 1,673,103 H89892 14,500
TOTAL Misc Home&Comm Sery , . ^1,673,103 y V 14,500
TOTAL Home And CommunityServices w1,673,103 '17,317'
Debt Principal,Serial Bonds H97106
TOTAL Debt Principal 4 0 - . • 0
Debt Interest,Serial Bonds 390 H97107 201
Debt Interest, Bond Anticipation Notes 518 H97307 2,192
TOTAL Dept Interest _. .. ..,_. N 907; 2,393
TOTAL Expenditures ' - 3,410;735 .2,120,204
Transfers,Other Funds ....�._. " • M•_.. __ "...�,__ H99019 .-_ _. ---
TOTAL OtherUses ' 0 0.
TOTAL DetailExpenditures And Other Uses „ ” . .^^" •_ -m... '_ 3,010,735 •„ . ; •2,'120,,204'
Page 41 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(H)CAPITAL PROJECTS
Analysis of Changes in Fund Balance
o¢e'DeSci1ptian a , :',?2014 ..:EdpCodeV .L2015
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 9,606,758 H8021 -1,446,686
Prior Period Add-Decrease In Fund Balance 10,517,092 H8015
Restated Fund Balance-Beg of Year -910,334 H8022 -1,446,686
ADD-REVENUES AND OTHER SOURCES 2,474,383 1,227,064
DEDUCT-EXPENDITURES AND OTHER USES 3,010,735 2,120,204
Fund Balance-End of Year -1,446,686 H8029 -2,339,824
Page 42 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(K)GENERAL FIXED ASSETS
Balance Sheet
ode$D"escription _ " - ,5,. 201.4" pCode 111,4
Assets
Land 126,707,115 K101 128,370,857
Buildings 27,415,581 K102 27,474,976
Improvements Other Than Buildings 18,310,844 K103 18,395,029
Machinery And Equipment 16,107,133 K104 16,898,205
Construction Work In Progress 5,179,739 K105 1,381,735
Infrastructure 81,685,789 K106 83,847,449
TOTAL`Fixed Assets(net} " -275,406,202 Z76,368,251
TOTAL Assets and Deferred Outflows of Resources. a 275,406,202 „276,368,251=
Page 43 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(K)GENERAL FIXED ASSETS
Balance Sheet
:61de b6s6-10tion'l , , r , , 20'0
Liabilities,Deferred Inflows And Fund Balance
Total Non-Current Govt Assets 275,406,202 K159 276,368,251
_2i0,490,202 ?764,6,1;1,45t
rOTALFundBalance •. ' 05,406,202 °„ 276,368251
,TOTAL , _ _ _ _ _L276,416,202_ ,,,,„276,3613,251i
Page 44 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SF)FIRE PROTECTION
Balance Sheet
ode Description , „ ' , NdpCocie 205
Assets
Cash In Time Deposits 26,950 SF201 25,775
TOTAL Cash 26,950' 25,775
Accounts Receivable 1 SF380
TOTALOther Receivables(net) " 1 0
Due From Other Funds 164,519 —SF-39-1 1677590
TOTAL Due From Other Funds - - 164,519 ° 167590
TOTALAssets and Deferred Outflows of Resources 191,479 , I93,366
L.,
•
Page 45 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SF)FIRE PROTECTION
Balance Sheet
Eqode Desdrilitien — • ;'2014 " EdOCode 2015 ]:
Accounts Payable 13,136 SF600 13,136
JOTALAccounts Payable ;.; 13,136 13,136
,„.
TOTAL Liabilities ' • 13,136 13,13d
Deferred Inflows of Resources
Deferred Inflow of Resources 164,519 SF691 167,590
LTOT4Diferred Inflows of Resources _ _ , 154,519 167,590
TOTAL Deferred inflows of Resources • 164,519 ' • 167;590
Fund Balance
Assigned Appropriated Fund Balance 6,800 SF914 6,000
Assigned Unappropriated Fund Balance 7,015 SF915 6,639
TOTAL Assigned Fund Balance
" -
TOTAL kind Balance - . 13,815 44539
Fund 191,4.70
"
Page 46 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SF)FIRE PROTECTION
Results of Operation
Cople,,p,OsoriptIon „ • 2014 71. :EdisCo'cle
Revenues
Real Property Taxes 771,184 SF1001 764,836
ifOTAI:7 Real:Property,Taxes L ,764,636j
Interest&Penalties On Real Prop Taxes 18 SF1090 13
47: -`' ••• — 117
Interest And Earnings 475 SF2401 284
TOTAL Use of Money And Property ' 476 284j
TOTAL Rerrenues 771,677T TiI
TOTAL Detail —^" -`7
e u s Ander °woes • 771,677 765,133!
Page 47 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SF)FIRE PROTECTION
Results of Operation
rg:citle'DeSCrigort --,; ; SL 2014 ;,:iLEciPCOcie/,-; 2015 r
Expenditures
Fire Protection,Contr Expend 772,657 SF34104 766,309
FOTAL Fire Protection 772,657 ' „ ' ; 766,309,
TOTAL thàity ° 5 SS 7e6
• •. •
Interfund Loans 10 SF97957 1
TOTAL Debt Interest S - „ 10
TOTAt.Expenditures 772,667 - 766,309
tOlAt.Detail Expenditures And Other Uses 772,667 766 309
Page 48 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SF)FIRE PROTECTION
Analysis of Changes in Fund Balance
ode Description 2014. I Edpcode
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 14,805 SF8021 13,815
Restated Fund Balance-Beg of Year 14,805 SF8022 13,815
ADD-REVENUES AND OTHER SOURCES 771,677 765,133
DEDUCT-EXPENDITURES AND OTHER USES 772,667 766,309
Fund Balance-End of Year 13,815 SF8029 12,639
Page 49 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SM)MISCELLANEOUS
Balance Sheet
Code Descri tion.. - , . ..2614., 'EdpCode. 1'`2015
Assets
Cash 1,059,663 SM200 664,930
Cash In Time Deposits 82,492 SM201 120,993
Petty Cash 1,535 SM210 2,486
TOTAL Cash 1,143,691 wY` 788,409'
Accounts Receivable 42,278 SM380 ._. 52,781
Allowance For Receivables(Credit) -4,600 SM389 -4,600
TOTAL Other Receivables(net) 37,678 - 48,181
Due From State And Federal Government 11,355 SM410 11,133
TOTAL State And.Federai,Aid Receivables 11,355 • 11,133
Due From Other Funds 188,173 SM391 196,906
TOTAL Due From Other Funds 188,173 —196,906,,
•
Prepaid Expenses 61,132 SM480 49,964
TOTAL Prepaid Expenses; • 61,132 s•
49,964
TOTAL Assets and Deferred Outflows of Resources.,, 1,442,029 . 1,094,592.
Page 50 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SM)MISCELLANEOUS
Balance Sheet
71 „2014=77. •'- -irf.,EdpCode7. 2015,,,,,t„,
Accounts Payable 306,284 SM600 378,564
:t TZ)TA L Accounts faia b I .— '30 e” '''''''' —77''''''' ' ,'''',, 'A 2 • ' ' '•• , ,''''',,,,:'..., .1.,„,; 6;284 ' 376,664
„.. ... ..,
Other Liabilities 9,102 SM688 13,232
9 102 13,232
TOTAL Other Liabilities - — - -- — -- - - -- - --- '
. ...,. ...... ....._ ...... .„... __. ._.,..
Due ToOther Funds S M630
TOTAL Due To Other FundS;,, ,; , „„ , , ,- • - , • 0
Due To Other Governments 539 SM631 777
' -.<,,, 539 ;- ., .. ' ''7?7
TOTAL Other Governments ,.,
, ,, , — ,' , .
TOTAL Liabilities: , — ,. ; 315,925 .. '— 392573
Deferred Inflows of Resources
Qeferred Inflow of Resources 188,173 SM691 196,905
tYotAil DefenWinfio—WiOf iieiiie S' '.' ,T,,-:.; v .-- ' ' :'188,173, • ... . ..„ „. .,
''' , .. •' 196i9O5
TOTAL Defefted;Inflows of Resources ,188'173
,...., . — , 196,905
Fund Balance
Not in Spendable Form 61,132 SM806 49,964
LTO*konSperldable Fund Balance __ ,j_ _, ,_,,, ,_,L.,,,,,,_„„ _ _- _,,, , _ ,' 6143L , ,,,,„,, - ' 49,964
Assigned Appropriated Fund Balance 436,870 SM914
Assigned Unappropriated Fund Balance 439,929 SM915 455,150
Lti
OT/4.4ilgned Ftin,ci, 00ii- .,,,--. - - - - — 1 m '-- , „ . 876,799 ', ,P.,.- 45,15O
TOTAL Fund Balance ,-- - ' -::
3-
.,,,..;... ,,,-,--,—.-4_----,-.—:,-,, --,,,,,,,,--..,c.^-7-•,,,-.•1,-•-..--- -----.,..,,v-7-',7, +'-- 605,11
---• •—•: - . -'4r.----' "—? — -" 4.,''*.= *—"--- 4.°r,— -- ^- --4^^-7?, "----"'"*,!--1
TOTAL Lia)ilities,DeferredInflows And Fund ,
ce 1;442,029 ' ,r 1,64592
— .', 4 •.,„ -
s.'
Page 51 OSC Municipality Code 470379000000
-
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SM)MISCELLANEOUS
Results of Operation
Coda[eSnhppk�����&. �,1�.^� ' ' ,I.:'1 `'5.'''.--,' �' '^`,'' ',-..''`. / ._' ''', :, ~'`,^[ .„ 204.1,i,,' ]F—EapOodm'-:'' '� g.016''' ' :
Revenues
Real Property Taxes 857.650 aM1001 874.803
TOTAL Realp� Taxoi' - `. -- •• •s-- - � a- _ 867,650— -- — ' . '�� �' _ --i
Interest&Penalties On Real Prop Taxes 20 GM1090 15
_ __ __-- -- -----—- -' r- --- �- .-� "---�--- ` ` '`'�V � �- -~�--�-------��
TOTAL Real
Tax Items
o ` ---^ --- -_-� --- -~-
Other General Departmental Income
�703.121 SM1u88 2,805,710
__ 5.71O
,. . , - ~_ _ - - ~
'roTAL -6pa�mmOt��ncumm� ~ ^� .�_ 2,763,421 _ ^ 2,805;7101
|
� ~ . ,
Mmoneven,�0�r�� 28,000 SM2389 28,284
- � - .
_-_ � � ' . � � `.. �o���
TOTAL0
J _ _C _�� � � � � � � � � ���
Interest And Earnings 505 GM2401 491
Commissions 8M2450
� - '- -' � --`- -`- '� � -,''- 'r--' --� ---'- '- -- --' ---' -- --� ------ -
^ '' ' ,s MY `=`` .. ', - `. --� __ .' _- -'^._-_ ^.-_~' -- - �-.�` --06 _, -'`_ -- _______ - -_
Refunds of Prior Year's Expenditures GM2701
Unclassified(specify) SM2770 2,415
. _- „_ _- -___ -- - ' � - - � ' _ ' � _ - -
Tm7��»»io�m�|oneo��Luoa| '� � � ~ ° ���.' � ''_ ` .` � _ _ _�`�� �U ' ' ' � ' 2�16/
St Aid,Other Aid(specify) 399 GM3089 570
Additional Description Mome|unUSecu�y(GEM[)
T�DuL•� Aid` _ ' '� '. •. - � '' , '- ' . '�` _ -�' 399 � _ •
`._. —
Federal Aid-Other 18.878 OM4089 963
Addibono|DoxcnpUonFEMA
-
TOTAL' - - - .„ ' _ — � - -
federal =�, . 1�87g � ,� � g$�
fOT�L���v��-- -: - - �- -' -- " -_ ' ^ ''~. '` ` 7-- '- 7
- fife - -~�r�`-'------�
iiiil
- , ' _^_^_� _ _. - _ - . � �__�
�-_ - __ .-
~_-_____�__ - _��_ ' _ _
„.• _
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SM)MISCELLANEOUS
Results of Operation
lOode Description' ;-' '-'' . ' ' ' „ , , ,,„,:,_,,,:: j „, ':2014 ' .. : .tdpbbde 7 :,, _2015
Expenditures
Other Gen Govt Support,Contr Expend 193,821 SM19894 349,487
. .
TOTAL Other Gen GovtSupport - ' ' , - " ' 193,821 - ' - - 349,487;
TOTAL General Government Support ,- . 193,821 „ -144,itiii
... .. , „ , ..„.. ... ... ...__-
Insect Control, Pers Sery 32,688 SM40681 30,067
Insect Control,Contr Expend 29,272 SM40684 46,403
Insect Control, Empl Bnfts 7,752 SM40688 7,596
- "
TOTAL Insect Control -77 ---77 7 7- - , ' 7-.,- '''- -,7 , •' - :, :69,712 ' , 84,06e
TOTAL Health ii,iii- 84,066
Other Transportation, Pers Sery 1,302,576 SM56801 1,366,332
Other Transportation,Ewuip&Cap Outlay 418,378 SM56802 755,404
Other Transportation,Contr Expend 665,810 SM56804 628,454
Other Transportation, Empl Bnfts 530,763 SM56808 565,903
.. .
TOTAL OtherTransportation '''''' ,- 2,9.17,527 ' ' ' '3,316,092
TOTAL TraneporieiWn273, f1,527 , . - ,316,692l
...... ..,„„_ . „...., ...,.- ,...., , „ . .. , .. ......., .
Misc Home&Comm Serv,Contr Expend 2,541 SM89894 12,877
TOTAL Misc Home-&Comm Sery ' , „ , 2,541 • • ' 12,877!
TOTAL Home Anil Dorrimithiiiiervices ,. ,e41 : -fi 4771
Debt Principal,Serial Bonds 175,000 SM97106 175,000
Debt Principal, Bond Anticipation Notes 100,415 SM97306 150,000
,.,„„...,..„.,_ ....,_._ .. . .„,
TOTAL Debt Principal , . , ' 3 , , 275,415 325,000.
Debt Interest,Serial Bonds 58,825 SM97107 52,263
Debt Interest, Bond Anticipation Notes 4,334 SM97307 6,283
TOTAL bebfin"-te-iesT- . - . „„ , - • • ' ' ' s' '' • : - ."4-4,iii '' '• '- '' ''' -'' ' - 16;6461
. .. ...., .
TOTAL exPeiiiiittirei 7; .: 3,522,175 ,4,146;06e
TOTAL Detail Expenditures And Other Us -77- 7- 77 - - -':- - -7-7 -'----"3,522,146-c. -- ,. . . 4,146,068;
Page 53 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SM)MISCELLANEOUS
Analysis of Changes in Fund Balance
ode Description, b,..,� = ]L" . .12014: L EdpCode' "2015= —J
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 790,531 SM8021 937,931
Restated Fund Balance-Beg of Year 790,531 SM8022 937,931
ADD-REVENUES AND OTHER SOURCES 3,669,575 3,713,250
DEDUCT-EXPENDITURES AND OTHER USES 3,522,175 4,146,068
Fund Balance-End of Year 937,931 SM8029 505,113
Page 54 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SP)PARK
Balance Sheet
bode Description "° - e 2014 'ROPettc10 • 2915
Assets
Cash In Time Deposits 750,226 SP201 1,271,140
Petty Cash 350 SP210 300
.
TOTAL Cash
- „ , 1-
-760,676 1,27 ,4 40
a. L....
Due From Other Funds 197,955 SP391 207,480
TOTAL Due FromOthéFunds •7, 197,955 207480
Assets and pefefrad,Oudloinit'of Resources — 948,530 2 1,470,9101
Page 55 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SP)PARK
Balance Sheet
ode Description „ - z2014 EdpCode ' 2015,„; _—
Accounts Payable 7,584 SP600 3,898
T9lALAccóunts Payable71. -- --
Other Liabilities 2 SP688
r-CrAtoilier — 7- 77: " •
TOTAL Liabilities S
7,586 • 3,698
Deferred Inflows of Resources
Deferred Inflow of Resources 197,955 SP691 207,480
TOTAL Deferred Inflows of Resources :97,955 - 207,480
TOTAL Deferred Inflows of Resources 197;955 207,480 Fund Balance
Assigned Appropriated Fund Balance 93,013 SP914 93,013
Assigned Unappropriated Fund Balance 649,977 SP915 1,174,528
TOTAL Assigned Fund Balance , 742,990 1;267;541j
TOTAL Fund Balance 742,990 1,267,541,
TOTAL Liabilities,
Deferred Inflows And Fund Balance 948,530 1,478,91
Page 56 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SP)PARK
Results of Operation
De*rrilition . rr,',EdrSCode —20'15
Revenges
Real Property Taxes 906,160 SP1001 920,278
. .
TOTAL Real Property Taxes ° 906,160 920,278
Interest&Penalties On Real Prop Taxes 20 SP1090 15
toi-AL.R1,property Tax itenis *_^ _ -20 —77". — -1"51
Interest And Earnings 3,275 SP2401 49,289
TOTALUseof Money And 01oPeity 3,275 77:*' 49
Sales of Real Property SP2660 239,458
Other Compensation For Loss 130 SP2690
TOTALSaieTOf PropertiikriCicoMpensaiignorWST
130 239,4581
Unclassified(specify) 95,087 SP2770 52,113
TOTAL IVIISCellaneOUS Local Sources 05,087 52,113J
Fed Aid,Emergency Disaster Assistance SP4960 295,755
TOTAL Federal Aid ,,295;7551
TOTAL Revenues - 1,004,672 ' ' 4 1,556,908j
TOTAL DetailRevenues And Other Sources 1,004,6/2 1;556,908i
Page 57 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SP)PARK
Results of Operation
QdeDescnpton '„; '1!": ." 2014".' , 2015
Expenditures
Parks,Pers Sery 388,813 SP71101 391,481
Parks, Equip&Cap Outlay 76,902 SP71102 250,003
Parks,Contr Expend 273,825 SP71104 273,840
Parks,Empl Bnfts 88,884 SP71108 117,032
,;„ „,
TOTAL"Parke 828,424 ' , 1,032,357,
TOTAL ilecivaiton ' 828;424: ' 1;032;367!
77 -.7'7-77"Tat-3-W
TOTAL D'etaill:Ekrienditures And Other Uses 828,424 1,032,357
Page 58 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SP)PARK
Analysis of Changes in Fund Balance
ode Description sa 4 v � 2014 ,EdpCode',: k82015, .,a
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 566,742 SP8021 742,990
Restated Fund Balance-Beg of Year 566,742 SP8022 742,990
ADD-REVENUES AND OTHER SOURCES 1,004,672 1,556,908
DEDUCT-EXPENDITURES AND OTHER USES 828,424 1,032,357
Fund Balance-End of Year 742,990 SP8029 1,267,540
Page 59 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SR)REFUSE AND GARBAGE
Balance Sheet
Pa4-DOicrjOtioil Joao. 2015
Assets
Cash 31,276 SR200 47,161
Cash In Time Deposits 1,734,397 SR201 1,522,684
Petty Cash 1,050 SR210 1,050
TPTALca'sh 'A766,723' ^ ' 1,67096
Accounts Receivable 160,345 SR380 -89,574
TOTAL Other Receivables(net) 160,345 , 11041
>a* a, '•
Due From State And Federal Government 23,520 SR410 17,390
TOTAL State And Federal Aid Receivables ' 23,520 17,390
- -- -
Due From Other Funds 593,159 'SR391 604,160
Due Frpnr).:ott;ei 593,409 : „ 604,160
Prepaid Expenses 95,960 SR480 91,695
TOTAL iirepaid Openses— - •-:- - ` 91,696
(TOTAL Asaetsland Deferred 06016ws'otResoimea " ' ' 2,639,707 " 2,373,713'
Page 60 OSC Municipality Code 470379000000
. -._
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SR)REFUSE AND GARBAGE
Balance Sheet
r0..odei',.Diseription:, „;;- i::: - ' -;'"''''''"' ,'''' ' . , ', '• . ,-,' , '''' '' :2014-. f,-;''',.' :-.-EdpCode,- i‘ .'200
Accounts Payable 446,855 SR600 268,509
,fotAL-AcCoinis70ii9bii—
68,50
Due To Other Governments 12,547 SR631 6,878
.., _. _. , .,....
1ppm..,Due Tii0tOptGovernipent , -, ,. „.„ -. .- ,, : --1 : - : ;: .-, . -.. 12,07. ; „ 6,878,
TOTAL Liabilities ., ' 459,402 . -, -- - - •- - 275,387
Deferred Inflows of Resources
Deferred Inflow of Resources 721,749 SR691 606,850
. • , . ., „ ,.. .
,,
TOTAL Deferred Inflows of keptifcP.,, ' - ' ` - : ,' 7.21,749,.,. ''' ,-..-., .., : : li.,' --:: 106)80.!
TOTAL DeferredlnfloWS•of Resources , ' - 721,749 ' , ' - ogs,lio:
...
Fund Balance
Not in Spendable Form 95,960 SR806 91,695
TOTALNon–sieb defile Funcl.Balance ' - .
, , '', . ' '''' ''' - - 95,960• ' - - 91,695
Assigned Appropriated Fund Balance 50,000 SR914 250,000
Assigned Unappropriated Fund Balance 1,312,596 SR915 1,149,781
TOTAL Assigned balance°•-, , -- 1,362,596 „--; . ' 1,396,781J
!TOTAL Fund Balance. : , : 1,458,556
!
T,,....-...„•,,,,,,,,,,,./OTAL Liabilities;Deferred Inflows And'Fund Blace 07 713
an ' - ' „ 2;639,7 • ' '
_ '2 373 ,
,... _. —• _
Page 61 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SR)REFUSE AND GARBAGE
Results of Operation
ode,Description ' „ ` j, ;:,i.cF°tfr-,, , s.: . ., d, ° , '20.14x- ,,..7,EdpCode' 1, , 2015-, ' °.
Revenues
Real Property Taxes 2,660,108 SR1001 2,730,209
TOTAL Real Property Taxes7 2;660,108 s,m 2,730,209 i
Interest&Penalties On Real Prop Taxes 49 SR1090 45
TOTAL Real Property,TaxTltems _. m.._ ,:: _.., ,.... _,, ._._ _.. ' - 49_ ' :. _ 4_51
Refuse&Garbage Charges 2,091,242 SR2130 1,490,500
TOTAL Departmental income 2,091,242 1,490,500
Misc Revenue,Other Govts SR2389 734
TOTAL Intergovernmental Charges - 0 • ' ` 734,1
Interest And Earnings 9,624 SR2401 6,333
Rental of Real Property, Individuals SR2410 18,000
TOTAL useof°Money And Property'` _ ----77
'7 _ ~7,9,624 - '24,33is
Permits,Other 137,538 SR2590 161,330
TOTAL Licenses And Permits _ .137,538 161,334
Sales of Scrap&Excess Materials 385,907 SR2650 226,756
Insurance Recoveries SR2680 8,896
TOTAL Sale of.Property And Compensation For Loss .. ,,. ..,, ,M'P 385,907 _. ,• ..W , 235,653'
Refunds of Prior Year's Expenditures 905 SR2701
Unclassified(specify) 283 SR2770 484
TOTAL Miscellaneous Local Sources ,._.. 1,188 484;
St Aid,Other Aid(specify) 56,129 SR3089 21,112
State Aid Emergency Disaster 47 SR3960 6,979
TOTAL State Aid _ . ,. - . , 56;176 28,091i
Federal Aid-Other 281 SR4089
TOTAL Federal Aid_ ,_ 281 — —__
TOTAL Revenues •,, __a.__w. __ .. ., 5,342,113 '4;671,378]
TOTAL Detail Revenues And Other Sources 5,342,113 _ " 4,671,378]
Page 62 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document .
For the Fiscal Year Ending 2015 /
(SR)REFUSE AND GARBAGE
Results of Operation
Oh*4DaktiPbon`''-- ' ''rv' '' ^" '' - `~ "' ~° � �~^~* ~ ^` ~ »� �' � [`~x2014 '.' i ! . '' 20l§:i;;. ,
Expenditures
Payment u,MtoPayroll Tox.cont,Expend 3.516 GR19804 3.708
��. - _
. �n�
.�-��'��=��=^=-��=�-=������ -7::-_-„,::-:-.--,-17.-- �� ' ���=��^.=� 3,709
fOTAL*��erii 6ove,nmmniOupp�m� ''^ , � � '/- � ' ' 1 � ._ *w`i . ^^'-_- . ~~ _^ �'u��
Refuse&Garbage, Pers Sery 1.238.521 aR81001 1.353.900
Refuse&Garbage,Equip&Cap Outlay 358.7e8 SR81602 12.294
Refuse
&-Garbage,ContrExpend 2
�-�.6V9.10u SR81004'�-
'-~1
.08�
7�.onn
TOTAL. .. ' ' - ' , ,V
~' ~. ' ^ `-- ~ '—~^y~~'` ~� ' . 0 ,42 ' �� ~~'_ . .
State Retirement, Empl Bnfts 190,505 8R90108 188,224
Social Security, smp|anftu 93,666 Gn90308 88.102
Worker's Compensation, Emp|snftv 81.316 OR90408 07.785
Unemployment Insurance, Emp|Dn#o 3,813 SR80508 9,073
Disability Insurance, smp|enuo 28.453 8R90558 52.646
Hospital&Medical(dental)Ins,EmpI Bnft 74.021 8R80608 852.469
TOTAL'��-| - oBe�m��- '`' ' - - . ` .. � � ' '� ' r 473.834 ' ,- ''-'`�' . 769,� �{
' . �.� _ ' ` ' - - -
Debt Principal,Serial Bonds 513.300 Gne7106 518.300
��- _� -
TOTALbemi , , _�, ' ~ _ ' 513,300 - '518;300
Debt Interest,Serial Bonds 152.01e Sn97107 119,366
. � '� ' � '- � ' ' 1 ~ -` ' ' ' '' ' ` 1
TLp~ , - .- _ ~ _z , _ - -.� - - ' �_- _ --,": __._ - -' ., ^ ~�. � ,' , ~, � ^� ;� �' .��°°
T�fAL ' '� � - �--r--- -r- ,- , -� - `. , 2 _ _
~ ^ � ,-__ '^ c - --. 04. 2
Tanoes. Other Funds 290050 SR99019 -35743
- _ - -- -
-_ - _ �
�� ^ _ _. '�_- � '- � �� � �� - '� __.-'~~'~ _ -
. ~ -� -~- ^' �. ' , .` , ~ ', - � _ -
- - - _ -� - - - - -
foTLo��/ ' Anmou`��[ie� ' ' - .- ' r' ' � - -' : ' ' ' c , ' ' ' '' - '' , - '____ ' - - , - . .
.
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SR)REFUSE AND GARBAGE
Analysis of Changes in Fund Balance
bode Descri•tion !1`)1, qM 1r, 2014 :'EdtiCodiji 2015,
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 1,754,583 SR8021 1,458,556
Restated Fund Balance-Beg of Year 1,754,583 SR8022 1,458,556
ADD-REVENUES AND OTHER SOURCES 5,342,113 4,671,378
DEDUCT-EXPENDITURES AND OTHER USES 5,638,140 4,638,459
Fund Balance-End of Year 1,458,556 SR8029 1,491,477
Page 64 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SS)SEWER
Balance Sheet
Code Description: ._. 3„3, 2014.; . 1,EdpCode [, 2015
Assets
Cash In Time Deposits 68,182 SS201 67,384
TOTAL Cash 68,182 57,384
. .. _ _. .._-. . , _._.... . .. _. .._..... ,
Sewer Rents Receivable 1,901 SS360
Accounts Receivable 4 SS380 1
TOTAL Other Receivables(net) 1,904' • - •1
Due From Other Funds 35,753 SS391 9,070
TOTAL Due Pram Other Funds 35,753; 9,070
;TOTAL Assets and Deferred Outflows of Resources . ^ rn .,, 105,839m ry 76,4551
Page 65 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SS)SEWER
Balance Sheet
Pre:Descriptidii:. •••• „, Edpeode I
Accounts Payable 2,543 SS600 4,074
TOTAL Accounts Payab,le -r7 7:— ;AP
,tfir4 A, 44, „
toTAL "
2,543 4O74]
Deferred Inflows of Resources
Deferred Inflow of Resources 23,247 SS691 9,000
erALliefirred inflows a ResourCeS 23,247 " ' 9,000
, • •;•;, ,•.'"z<•" P'" , ••• ',"" • .'"' Z." ,J•" •
TOTAL Deferred Inflows of kesOurces „ ' 23,247 006
Fund Balance
Assigned Appropriated Fund Balance 3,750 SS914
Assigned Unappropriated Fund Balance 76,299 SS915 63,381
TOTAL Assigned Fun alance 80,649„ . „63,381,
"1''•• •
TOTAL Fund • 80,049 , 63,381i
hiTALti'aTiiilide;,-.6;i;rredinfloiivi And kind eaiande '10i,839 76,48-57
Page 66 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SS)SEWER
Results of Operation
bode Description- "< i. , 2414'.° 'EdpCode
Revenues
Real Property Taxes 105,200 SS1001 108,075
TOTAL RealProperty Taxes- 105,200 2 108,075
Interest&Penalties On Real Prop Taxes 2 SS1090 2
TOTAL Real Property.Tax Items ._ -_ 2 2,
Sewer Rents 46,020 SS2120 23,209
Sewer Charges 920 SS2122 925
TOTAL Departmental income m 46,940 24,1341
Interest And Earnings 264 SS2401 158
TOTALmUse of Money And Property 264
.161
TOTAL'Revenues 152,407 132;3691
TOTAL Detail Revenues And Other Sources 152,407 132,369
Page 67 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SS)SEWER
Results of Operation
gbdePI-PP , '_ ' ' ',':. ',:,„, ,‘, ,.., .' . ,,..:,- '*,'1- , ' '' .. - ,' ', *2014- -_-.ILL Ed0Code [ ''' 2015
Expenditures
Sanitary Sewers,Contr Expend 18,890 SS81204 28,840
TOTAL Saniteiy Sewers ' "! --'' ' 18,890 28,840'1
Sewage Treat Disp,Contr Expend 281 SS81304
. . . .. :„.
iTOTALpeweiejieet,Disp -''T - ' ' '. ' 281 . :,, 0,
•' ••-•-•-. rr', ••••-.- •--,•-• -,•- •.•• :••': , -' s- • • • ' • , '--,, ... , -•:- ,::',
TOTAL Home And Community Pervices - -',- 19,171 28;8401
Qebt Principal,Serial Bonds 6,000 SS97106 6,000
Debt Principal, Bond Anticipation Notes 110,000 SS97306 110,000
, -
TOTAL bilk Principal ' ' ' - — '' 116,000 - — 116,000
Debt Interest,Serial Bonds 3,635 SS97107 3,395
Debt Interest,Bond Anticipation Notes 1,254 SS97307 803
;
TOTAL Debt Interest ., . . ,
' „...., , 4889.: 4,198
„. ._, ..,. ..„ ... , . ,. ..
TOTAL Exnenditures • • - ,` - 140,M ' 149038.
.. _.. _. ,..,
,
TOTAL Detail Expenditures And Other Uses - - 140,060 149,036.;
'
Page 68 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SS)SEWER
Analysis of Changes in Fund Balance
ode Description-: z "- _ '2014, mm EdpCode, 2015
Analysis of Changes in Fund Balance
Fund Balance-Beginning of Year 67,702 SS8021 80,049
Restated Fund Balance-Beg of Year 67,702 SS8022 80,049
ADD-REVENUES AND OTHER SOURCES 152,407 132,369
DEDUCT-EXPENDITURES AND OTHER USES 140,060 149,038
Fund Balance-End of Year 80,049 SS8029 63,381
Page 69 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SS)SEWER
Budget Summary
`,Code Description:, ?` ° y 2015;=w= EdpCode ,20.16
Estimated Revenues
Est Rev-Real Property Taxes 108,075 SS1049N
Est Rev-l epartmental Income 33,750 SS1299N 31,500
TOTAL`Estimated l2e_venues _ ._. �.._� 141,825 . _ � .�_.. 312,500
Appropriated Fund Balance 3,750W SS599N
TOTAL Estimated Other Sources 3750- , 0 j
;TOTAL Estimated Revenues And Other Sources 145,575 . ° - 31,500
Page 70 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(SS)SEWER
Budget Summary
Code Description ".. .` . y .. 2015. ., , •; ;[ dpCode 20,18 ' •
Appropriations
App-Home And Community Services 25,350 SS8999N 22,300
App-Debt Service 120,225 SS9899N 9,200
.TOTAL Appropriations1'7 145,575 31,500
TOTAL Appropriation's And Other Uses _.._ .._..� • �• .145,575, . .. ._.__ .__. 31,500_.a
Page 71 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(TA)AGENCY
Balance Sheet
'cede Description °" ;:`3201 ' . EdpCode. :2015 °
Assets
. .... __ ... ..�,.
Cash 20,276,865 TA200 9,963,344
Cash In Time Deposits 190,964 TA201 192,844
TOTAL Cash 20,467,829 ° ^10,156,188 j
Due From Other Funds 558 TA391
TOTAL Due From Other Funds 558 2,805
TOTAL Assets and'Deferred Outflows of Resources , 20,468,387 10,158,993
Page 72 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(TA)AGENCY
Balance Sheet
O dde.Description- :,,' „, > _ „ 414 :::::!]1: -EdpOode7.-,, ,,,,.,,,,,, „,2015, '1
Que To Other Funds 2,255 TA630 6
2,255.
_
Q ue To Other Governments 20,000,146 TA631 9534,465
J'OTAL_DT
ue o Other Govment
ern :5 — — , -- — --: ' `" 7: 200007.i46‘ , 7'-' 9,534,465
_ „ ...,.,_ . __.. . ,....,..
Income Executions 13,152 TA23 11,158
Guaranty&Bid Deposits 452,835 TA30 613,364
fOTALAieiVOYILlabilities--- '.- 7: 'Ti, :7 7-7; -: 7-': 7.:4101,46Y 7 -- 7:- 7 624 522
TOTAL Liabilities ": "''' , 20,468,388 , 10,168,993
[17OTAL14-blDererr11-4:11hfiOZAWi=iilL '-='--7•'' '''''' 16-4-gT7'88-7-4=',::'''.7-.'-'.--- 77;iii iiiiisi
Page 73 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
Balance Sheet
0,04ei,P0$9,riptigo, , ° : -„ I
Page 74
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
Balance Sheet
Code,0esdription' h.;.F;. _ . . ` �� 20 i4° °.l '.Edpcode r.. 2015 —1
Page 75
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(V)DEBT SERVICE
Results of Operation
bode Description ., -' , ' '''-' , ,..:>,-' .g.:. !::i ,:4-1 ,2-=„•-': -e:.. ! :. 1,. ,,,2914.`, , I—:Etiliebdq:"I'., `-2615'''""-,'.,
Revenues
Premium&Accrued Interest On Obligations V2710 1,056,214
, , — —1
TOTAL Miscellaneous Local Sources 0 1,056,214,
,
.... ..,
'
TOTAL Revenues , :0 , °' , ' , 1;056,214',
,..,'
Advanced Refunding Bonds V5791 7,882,000
Current Refunding Bonds V5792 1,138,000
TOTAL Proceeds of oblidations "020 0 9 000
-...a,, •
— ., — .. •
TOTAL Other Sources -- -- ----- --- —- ' ' 'T- — - ' 0 , - 9,020,000i
.. .......
, .
TOTAL Oelaillte,venueS And Other Sources, ' 0 ' 10,076,2141
Page 76 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(V)DEBT SERVICE
Results of Operation
bode:Desoriptibti.,;;;„, i",t;t!; 2014,f,4
Expenditures
Other Govt Support,Contr Bnfts V19894 118,170
-""
TOTAL'Other 118;170Soyt-Support 0„
i —
„ - • 0, •bTAL denerai Gorn
vement SuPPori .77 118;170'
Debt Principal,Serial Bonds V97106 9,500,000
tOTAL:,PebfOrinc!pal ,
ci; 777"
9,600,000,1
TOTAL Expenditures 0
9
Repayments To Esc Agent Adv Ref Bonds V99914 458,044
•,•• 458,044'
„.
TOTAL Other t.lses k - • • 468,0444
TOTAL Detail Expenditures And Other Uses - — , 10,070;214
Page 77 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(V)DEBT SERVICE
Analysis of Changes in Fund Balance
Cada Description. . 2014°, � EdpCode 2015•
Analysis of Changes in Fund Balance
ADD-REVENUES AND OTHER SOURCES 10,076,214
DEDUCT-EXPENDITURES AND OTHER USES 10,076,214
•
Page 78 OSC Municipality Code 470379000000
TOWN OF Southold
Annual UDocument
For the Fiscal Year Ending 2015
(W)GENERAL LONG-TERM DEBT
Balance Sheet
ocwcdptuqn'' r ` � '. ' ` � _ . _-- �-- ~ ����4U4-. . EcinCbdo 2015:;:
Assets
Total Non-Current Govt Liabilities 75.o75.83n W129 82.242.927
TOTAL �--��'- ---r--,~c -'`' — — - -----' ' — ------'
Provision, 75,875,$33.
et*and 'Deferred
es
[TOTALOutflows _ '
Page 79 OSC Municipality Code 470379000000
TOWN OF Southold
Annual Update Document
For the Fiscal Year Ending 2015
(W)GENERAL LONG-TERM DEBT
Balance Sheet
.���n�� �-7��----- ---- ~l :"-l-)Eapc --7[7:^ ^'2V����/ -
Other PosEmployment Benefits 30.727.059 W683 89.788.820
Compensated Absences 8,538,674 W687 8,924,107
l�i���a - ''� ----,-'��-�-- c~---`���-��' ' ' -� �--- .'�- ' -- - -.r-� '--- '�--- �i�2�
BondsP�m�e 36� � '-- O1O'^~ W628 �-3'58V�000^
. . '
-� --- -- '---- ------r '
Office of the State Comptroller TOWN OF Southold 4/25/2096
Statement of Indebtedness
For the Fiscal Year Ending 2015
County of:Suffolk
Municipal Code:470379000000
First Debt Cops Comp Date of Date of Int. Amt.Orig. 0/S Beg. Paid Redeemed Prior Yr. Accreted 0/S End
Year Code Description Flag Flag Issue Maturity Rate Var7 Issued of Year Dur.Year Bond Proc. Adjust. Interest of Year
2003 BAN N New London Terminal Y 09/12/2003 09/12/2006 0.013% Y $2,475,000 $350,000 $100,000 $0 $0 $250,000
2010 BAN N Decom Wastewater Y 09/02/2010 09/02/2011 0.007% $700,000 $110,000 $110,000 $0 $0 $0
Plant
2011 BAN N Highway 09/01/2011 08/31/2016 0.018% $250,000 $89,000 $50,000 $0 $0 $39,000
Payloader/Skidsteer
2012 BAN N Highway/Police Y 08/30/2012 08/30/2017 0.007% $120,000 $26,000 $26,000 $0 $0 $0
Facility Improv
2013 BAN N FIFD North Ramp Y 09/12/2013 09/12/2018 0.013% $500,000 $499,000 $50,000 $0 $0 $449,000
Project
2014 BAN N Highway Dump Truck Y 08/28/2014 08/28/2019 0.018% $185,000 $185,000 $38,000 $1,263 $0 $147,000
2015 BAN N Highway Facility. Y 08/27/2015 08/27/2020 0.018% $413,000 $0 $0 $413,000
Improvement
2014 BAN N Bay Avenue Bridge Y 08/28/2014 08/28/2019 0.002% $800,000 $800,000 $40,000 $0 $0 $760,000
2015 BAN N Pike Street Parking Lot Y 08/27/2015 08/27/2020 0.018% $250,000 $0 $0 $250,000
2011 BAN N Fuel Management 04/14/2011 04/12/2016 0.013% $180,000 $66,000 $36,000 $0 $0 $30,000
System
2014 BAN N Highway Facility Y 08/28/2014 08/28/2019 0.002% $825,000 $825,000 $150,000 $0 $0 $675,000
Improvement
2015 BAN N Windrow Turner Y 08/27/2015 08/27/2020 0.018% $510,000 $0 $0 $510,000
2007 BAN N Orient by the Sea 09/07/2007 09/07/2017 0.018% $30,000 $9,000 $3,000 $0 $0 $6,000
Road Improve
Total for Type/Exempt Status-Sums Issued Amts only made in AFR Year $1,173,000 $2,959,000 $603,000 $1,263 $0 $0 $3,529,000
2007 BOND N 2007 Public Y 04/15/2007 04/15/2030 0.04% Y $14,650,000 $10,225,000 $8,925,000 $0 $0 $1,300,000
Improvement Bonds
2009 BOND N Various Purposes Y 03/15/2009 03/15/2030 3.00% Y $5,283,000 $4,345,000 $195,000 $0 $0 $4,150,000
2005 BOND N FIFD New London Y 03/01/2005 09/01/2021 0.038% Y $3,000,000 $1,375,000 $1,375,000 $0 $0 $0
Terminal
2009 BOND N Refunding Bonds 05/01/2009 05/01/2019 2.00% Y $2,125,000 $1,020,000 $225,000 $0 $0 $795,000
2005 BOND N Refunding Serial 02/08/2005 02/15/2015 2.50% Y $2,380,000 $110,000 $110,000 $0 $0 $0
Bonds
2011 BOND N 2011 Public Y 06/26/2011 08/15/2030 2.00% Y $13,175,000 $11,475,000 $600,000 $0 $0 $10,875,000
Improvement Bonds
2015 BOND N Refunding Serial 07/29/2015 03/01/2030 2.00% Y $9,020,000 $0 $0 $9,020,000
Bonds
2004 BOND N Cutchogue Landfill N 07/22/2004 02/15/2018 1.201% Y $3,789,098 $1,235,000 $295,000 $0 $0 $940,000
Closure-EFC
2008 BOND N Various Purposes-- Y 05/15/2008 05/15/2030 0.04% Y $8,850,000 $6,825,000 $375,000 $0 $0 $6,450,000
2008
Total for Type/Exempt Status-Sums Issued Amts only made in AFR Year $9,020,000 $36,610,000 $12,100,000 $0 $0 $0 $33,530,000
AFR Year Total for All Debt Types-Sums Issued Amts only made in AFR Year $10,193,000 $39,569,000 $12,703,000 $1,263 $0 $0 $37,059,000
Page 81
TOWN OF Southold
Maturity Schedule
For the Fiscal Year Ending 2015
For Bonds Issued During The Fiscal Year Ended 2015
EDPCODE
Indebtedness No. 015000004
Purpose of Issue Refunding Serial Bonds
For State Comptroller Use Only - P3CE
otal Principal P3PR 9,020,000
Date of Issue P3DT 7/29/2015
Interest Rate L2P3PC 2.00000
Final Maturity Date P3DM 3/1/2030
mount of Principal Redeemed in or to be Redeemed in Fiscal Year ending in (The Last Two
Digits of the EDP Code Correspond to the Fiscal Year Ended)
2P316 195,000
2P317 195,000
2P318 845,000
2P319 j 835,000
2P320 820,000
2P321 820,000
2P322 635,000
2P323 I 690,000
2P324 690,000
2P325 695,000
2P326 525,000
2P327 525,000
2P328 525,000
2P329 515,000
2P330 510,000
Page 82 OSC Municipality 470379000000
TOWN OF Southold
Schedule of Time Deposits and Investments
For the Fiscal Year Ending 2015
EDP Code Amount
CASH:
On Hand 9Z2001 $4,458.75
Demand Deposits 9Z2011 $24,851,176.53
Time Deposits 9Z2021 $26,060,989.96
Total $50,916,625.24
COLLATERAL:
- FDIC Insurance 9Z2014 $14,004,604.00
Collateralized with securities held in
possession of municipality or its agent 9Z2014A $45,654,796.00
Total $59,659,400.00
INVESTMENTS.
-Securities (450)
Book Value (cost) 9Z4501
Market Value at Balance Sheet Date 9Z4502
Collateralized with securities held in 9Z4504A
possession of municipality or its agent
- Repurchase Agreements (451)
Book Value (cost) 9Z4511
Market Value at Balance Sheet Date 9Z4512
• Collateralized with securities held in
possession of municipality or its agent 9Z4514A
Page 83 OSC Municipality Code 470379000000
TOWN OF Southold
Bank Reconciliation
For the Fiscal Year Ending 2015
Include All Checking, Savings and C.D.Accounts
Bank Add: Less• Adjusted
Account Bank Deposit Outstanding Bank
Number Balance In Transit Checks Balance
*****-0320 $131,144 $0 $0 $131,144
*****-9666 $484,930 $0 $0 $484,930
*****-1052 $7,529 $0 $7,527 $1
*****-0040 $311,194 $0 $61,194 $250,000
*****-5725 $783,405 $0 $0 $783,405
*****-89-1 $48,627 $0 $0 $48,627
*****-5647 $969 $0 $0 $969
*****-5466 $124,125 $1,635 $0 $125,760
*****-7685 $0 $0 $0 $0
*****-3955 $0 $0 $0 $0
*****-5704 $31,399 $0 $0 $31,399
*****-3815 $14,613 $70 $0 $14,683
*****-3781 $32,199 $190 $0 $32,389
*****-5688 $28 $0 $0 $28
' *****-9669 $0 $0 $0 $0
*****-9476 $5,003,672 $0 $0 $5,003,672
*****-9685 $857,776 $0 $0 $857,776
*****-89-2 $5,188 $0 $0 $5,188
*****-3119 $6,956,615 $0 $0 $6,956,615
*****-0303 $2,191,261 $0 $0 $2,191,261
*****-9485 $5,000,931 $0 $0 $5,000,931
*****-9707 $594,407 $0 $0 $594,407
*****-9774 $908 $0 $0 $908
*****-9812 $29,096 $0
$0 $29,096
*****-9820 $507,446 $0 $0 $507,446
*****-9863 $201,425 $0 $0 $201,425
*****-9693 $16,018 $0 $0 $16,018
*****-9871 $2,088 $0 $0 $2,088
*****-9804 $176,377 $0 $0 $176,377
*****-9715 $25,775 $0 $0 $25,775
Page 84 OSC Municipality Code 470379000000
TOWN OF Southold
Bank Reconciliation
For the Fiscal Year Ending 2015
Include All Checking, Savings and C.D.Accounts
Bank Add: Less: Adjusted
Account Bank Deposit Outstanding Bank
Number Balance In Transit Checks Balance
*****-8067 $660,996 $0 $0 $660,996
*****-7759 $75,827 $13,229 $0 $89,056
*****-5021 $802 $0 $681 $121
*****-0217 $126 $0 $126 $0
*****-OMD1 $3,813 $0 $0 $3,813
*****-QMD2 $31,937 $0 $0 $31,937
*****-NPD1 $2,115 $0 $0 $2,115
*****-N PD2 $128,174 $0 $0 $128,174
*****-MPD1 $5,930 $0 $1,791 $4,139
*****-SPD1 $126,701 $500 $7,492 $119,709
*****-SPD2 $15,923 $0 $0 $15,923
*****-MPD1 $17,128 $0 $1,713 $15,414
*****-MPD2 $985,665 $0 $0 $985,665
*****-9967 $21,614 $702 $0 $22,316
*****-IWM1 $4,871 $0 $0 $4,871
*****-IWM2 $557,385 $0 $0 $557,385
*****-IWM3 $19,291 $2,283 $1,600 $19,974
*****-9723 $965,299 $0 $0 $965,299
*****-9731 $17,468 $0 $0 $17,468
*****-9758 $49,916 $0 $0 $49,916
*****-0099 $124,371 $0 $2,511 $121,860
*****-9766 $184,325 $0 $0 $184,325
*****-0404 $8,519 $0 $0 $8,519
*****-5354 $1,813 $0 $922 $892
*****-3799 $158,446 $0 $791 $157,655
*****-5281 $205 $0 $0 $205
*****-3807 $147,936 $0 $688 $147,248
*****-5628 $0 $0 $0 $0
*****-4230 $607,106 $0 $0 $607,106
*****-5636 $603,691 $0 $0 $603,691
Page 85 OSC Municipality Code 470379000000
TOWN OF Southold
Bank Reconciliation
For the Fiscal Year Ending 2015
Include All Checking, Savings and C.D.Accounts
Bank Add: Less: Adjusted
Account Bank Deposit Outstanding Bank
Numl er Balance In Transit Checks Balance
*****-9680 $83,538 $0 $7,429 $76,109
*****-4430 $11,836,920 $0 $0 $11,836,920
*****-0081 $1,020 $0 $0 $1,020
*****-0024 $10,000,008 $0 $0 $10,000,008
Total Adjusted Bank Balance $50,912,166
Petty Cash $4,458.75
Adjustments $.00
Total Cash 9ZCASH * $50,916,625
Total Cash Balance All Funds 9ZCASHB * $50,916,625
* Must be equal
Page 86 OSC Municipality Code 470379000000
TOWN OF Southold
Local Government Questionnaire
For the Fiscal Year Ending 2015
Response
1) Does your municipality have a written procurement policy? Yes
2) Have the financial statements for your municipality been independently audited? Yes
If not, are you planning on having an audit conducted? Yes
3) Does your local government participate in an insurance pool with other local Yes
governments?
4) Does your local government participate in an investment pool with other local Yes
governments?
5) Does your municipality have a Length of Service Award Program (LOSAP) No
for volunteer firefighters?
6) Does your municipality have a Capital Plan? Yes
7) Has your municipality prepared and documented a risk assessment plan? No
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 No
year?
9) Has your Local Government adopted an investment policy as required by Yes
General Municipal Law, Section 39?
Page 87
TOWN OF Southold
Employee and Retiree Benefits
For the Fiscal Year Ending 2015
Total Full Time Employees: 273
Total Part Time Employees: 304
Account Description Total #of Full #of Part #of Retirees
Code Expenditures Time Time
(All Funds) Employees Employees
90108 State Retirement System $2,228,141 0 185 74 8
90158 Police and Fire Retirement $1,768,736.8 52 2 1
90258 Local Pension Fund $0.0
90308 Social Security $1,509,774.51 273 304 9
90408 Worker's Compensation $565,528.0 273 304 9
Insurance
90458 Life Insurance $0.00
90508 Unemployment Insurance $38,320.32 7 30
9055 Disability Insurance $5,554.5 164 16• 7
9060 Hospital and Medical $5,510,994.3 219 1, 125
(Dental)Insurance
9070 Union Welfare Benefits $430,781 7 188 1 7
9085 Supplemental Benefit Payment to $0.0
Disabled Fire Fighters
91890 Other Employee Benefits $83,944.43 237 179 8
Total $12,141,775.76
Computed Total From Financial $12,141,775.76
Section(comparative purposes only)
Page 88 OSC Municipality 470379000000
TOWN OF Southold
Energy Costs and Consumption
For the Fiscal Year Ending 2015
Energy Type Total Total Volume Units Of Alternative
Expenditures Measure Units Of
Measure
Gasoline $206,1961 111,726 gallons
Diesel Fuel $347,476 156,768 gallons
Fuel Oil $35,963 15,959 gallons
Natural Gas $29,563 27,578 cubic feet Therms
Electricity $327,515 1,765,841 kilowatt-hours
Coal tons
Propane gallons
•
Page 89 OSC Municipality 470379000000
TOWN OF Southold
Schedule of Other Post Employment Benefits (OPEB)
For the Fiscal Year Ending 2015
Annual OPEB Cost and Net OPEB Obligation
1.Type of Other Post Employment Benefits Plan Agent Multiple-Employer Defined Benefits
2.Annual Required Contribution(ARC) $6,501,553.00
3. Interest on Net OPEB Obligation $1,075,447 00
4.Adjustment to Annual Required Contribution ($1,670,671.00)
5.Annual QPEB Expense $5,906,329 00
6. Less:Actual Contribution Made $1,237,840 00
7 Increase in Net OPEB Obligation $4,668,489 00
8. Net OPEB Obligation-beginning of year $30,727,059.00
9.Net QPEB Obligation-end of year $35,395,548 00
10 Total Other Post Employment Benefits as reported in Accounts 683 in $39,788,820.00
Financial Section,Current Fiscal Year
11. Percentage of Annual OPEB Cost Contributed(Actual Contribution 20.96%
Made/Annual OPEB Cost)
Funded Status and Funding Process
12 Actuarial Accrued Liability(AAL) $68,001,588 00
13. Less.Actuarial Value of Plan Assets $0.00
14.Unfunded Actuarial Accrued Liability(UAAL) $68,001,588.00
15. Funded Ratio(Actuanal Value of Plan Assets/AAL) 0 0000
16 Annual Covered Payroll(of active employees covered by the plan) $14,982,384.00
17. UAAL as Percentage of Annual Covered Payroll 453 88%
Other OPEB Information
18. Date of most recent actuarial valuation 01/01/2014
19 Actuarial method used Entry Age
20.Assumed rate of return on investments discount rate 3 50%
21.Amortization period of UAAL(in years) 30.00
Page 90 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 12/31/2015
, 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 12/31/2015
and filed by means of electronic data transmission.
John Cushman Scott Russell
Name of Report Preparer if different Name
than Chief Fiscal Officer
(631)765-4333 Supervisor
Telephone Number Title
PO Box 1179, Southold, NY 11971
Official Address
04/25/2016 (631)765-1889
Pate of Certification Official Telephone Number
•
Page 91 Municipality Code 470379000000
TOWN OF Southold
Financial Comments
For the Fiscal Year Ending 2015
Page 92
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
A. Summar, of Significant Accounting Policies
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 SOUTHOLD
Notes To Financial Statements
December 31, 2015
A. Summary of Significant Accounting Policies (continued)
1. Financial Reporting 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 Fishers Island Waste
Main Road Management District
Orient, NY 11957 Fishers Island, NY 06390
Cutchogue-New Suffolk Orient-East Marion
Park District Park District
P.O. Box 311 Route 25
Cutchogue, NY 11935 Orient, NY 11957
Southold Park District Mattituck Park District
P.O. Box 959 P.O. Box 1413
Southold, NY 11971 Mattituck, NY 11952
Fishers Island Ferry District
Main Street
Southold, NY 11971
2. Fund Accounting
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, 2015
A. Summary of Significant Accounting Policies (continued)
2. Fund Accounting, (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 Projects 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 SOUTHOLD
Notes To Financial Statements
December 31, 2015
A. Summary of Significant Accounting 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 Long-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, 2015
A. Summary of Significant Accounting Policies (continued)
4. Fund Balances
In 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, 2015
A. Summary of Significant Accounting 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.
Encumbrances totaling $1,790,270 were included in the reporting of fund balance as
follows:
General Fund Whole Town $106,249
Highway Fund Part Town 5,832
Capital Fund 2,978,763
Solid Waste District 2,235
Fishers Island Ferry District 16,940
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.
6. Assets, Liabilities and Fund Equity (continued)
TOWN OF SOUTHOLD
Notes s To Financial Statements
December 31, 2015
Property, Plant and Equipment - General (continued)
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.
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 Obligations
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.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
7. Revenue and Expenditures (continued)
Property Taxes (continued)
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.
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.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
7. Revenue and Expenditures (continued)
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.
Newly Adopted Accounting Standards
The Town has adopted all current Statements of the Governmental Accounting
Standards Board (GASB) that are applicable. At December 31, 2015, the Town
implemented the following new standard(s) issued by GASB:
GASB has issued Statement 68, Accounting and Financial Reporting for Pensions — an
amendment of GASB Statement 27, effective for the year ending December 31, 2015.
GASB has issued Statement 69, Government Combinations and Disposals of
Government Operations, effective for the year ending December 31, 2015.
GASB has issued Statement 70, Accounting and Financial Reporting for Nonexchange
Financial Guarantees, effective for the year ending December 31, 2015.
GASB has issued Statement 71, Pension Transition for Contributions Made Subsequent
to the Measurement Date — an amendment of GASB Statement 68, effective for the
year ending December 31, 2015.
B. Stewardship, Compliance, Accountability
Budgetary Data
1. Budget 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.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
B. Stewardship, Compliance, Accountability (continued)
2. Budget 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.
4. Fund Balances
1. Certain funds of the Town apply to areas less than the entire Town. The fund
equity at December 31, 2015 is allocated as follows:
General Fund (Town wide) $ 8,111,955
Special Revenue Funds
General Fund Part Town 1,148,392
Highway Fund -- Part Town 646,092
Miscellaneous Special Revenue Funds
Community Preservation Fund 14,797,002
Special District Funds
Orient by the Sea Road Improvement District 908
East-West Fire Protection 12,639
Southold Wastewater Disposal 17,538
Fishers Island Sewer 45,843
Solid Waste Management 905,465
Discretely Presented Component Units
Fishers Island Waste Management 586,011
Fishers Island Ferry 470,054
Cutchogue-New Suffolk Park 130,289
Southold Park 135,632
Orient-East Marion Park 4,139
Mattituck Park 997,481
Orient Mosquito 35,059
Total $28.044,499
Deficit Fund Balances
There were no deficit fund balances at December 31, 2015.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
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 U.S. Treasury obligations and repurchase
agreements relating to treasury obligations.
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, 2014 the cash in banks was $53,473,418 and collateral held against
cash in banks was $55,561,796 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, 2015
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, 2015 is as follows:
Balance Balance
01/01/2015 Additions Deletions 12/31/2015
Primary Government:
Land $124,513,767 $1,753,933 $126,267,700
Buildings & Improvements 13,270,212 59,395 13,329,607
Other Improvements 15,765,606 84,185 15,849,791
Construction in Progress 1,107,992 1,064,819 $ 791,076 1,381,735
Infrastructure 77,638,597 1,886,887 79,525,484
Machinery & Equipment 12,103,204 1,141,356 357,779 12,886,781
Total $244,399,378 $5,990,575 $1,148,855 $249,241,098
Balance Balance
01/01/2015 Additions Deletions 12/31/2015
Component Units:
Land $2,193,349 $ 90,192 $2,103,157
Buildings & Improvements 14,145,369 14,145,369
Other Improvements 2,545,238 2,545,238
Infrastructure 4,047,192 $ 319,137 4,366,329
Machinery & Equipment 4,003,929 7,495 4,011,424
Total $26,935,077 $ 326,632 $ 90.192 $27,171.517
3. Interfund Receivables and Payables
Interfund receivables and payables for the primary government at December 31, 2015
were as follows:
Interfund Interfund
Fund Receivables Payables
General Fund Whole Town $ 433,399 $ 2,737,027
General Fund Part Town 163,637
Highway Fund Part Town 1,173,898 23,622
East-West Fire Protection District 167,590
Solid Waste Management District 478,904
Wastewater Disposal District 70
Fishers Island Sewer District 9,000
Capital Projects 332,518 1,166
Trust & Agency 2,805 6
Total Interfund $ 2,761,821 $ 2,761.821
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
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 $ 125,256
Fishers Island Ferry District 177,219
Orient Mosquito District 19,686
Cutchogue-New Suffolk Park District 31,161
Southold Park District 72,948
Orient-East Marion Park District 9,796
Mattituck Park District 93,575
Primary Government
General Fund $ 529,641
Totals $ 529,641 $ 529.641
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 2016
Interest Budget
Description Amount Rate Appropriations Bonds
Various Purposes $ 729,000 1.27% $ 180,000 $ 549,000
Various Purposes 2,800,000 .71% 374,000 2,426,000
Total $ 3,529.000 $ 554,000 $ 2.975,000
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
5. Indebtedness (continued)
Long-Term Debt
a) At December 31, 2015 the total outstanding indebtedness of the Town, excluding the
above obligations aggregated $33,530,000. Of this amount, $30,975,600 was
subject to the constitutional debt limit and, combined with the short-term debt listed
above, represented 5.13% 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 Long-Term Debt - In addition to the above long-term debt, the local
government had the following non-current liabilities:
• Compensated Absences - Represents the value of earned and unused
portion of the liability for compensated absences.
• Other Post-Employment Benefits (OPEB) — Represents the non-current
portion of the liability to current employees and retirees.
d) Summary Long-Term Debt - The following is a summary of long-term liabilities by
fund type and account group:
General Discretely
Long Term Debt Presented
Liability Account Group Component Unit Total
Serial Bonds $ 32,392,000 $ 1,138,000 $ 33,530,000
Other Post-Employment Benefits 39,788,820 39,788,820
Compensated Absences 8,924,107 8,924,107
Total Long-Term Debt
Account Group $ 81.104,927 $ 1,138.000 $ 82,242.927
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
5. Indebtedness (continued)
Long-Term Debt (continued)
e) The following is a summary of changes in the long-term liabilities for the period ended
December 31, 2015:
Other
Bonds and Post-Employment Compensated
Notes Benefits Absences
Payable at beginning of
Year $ 36,500,000 $35,395,548 $ 8,538,674
Additions 9,020,000 5,973,325 385,433
Deletions 11,990,0.00 _ 1,580,053
Payable at end of
Year $ 33.530,000 $ 39,788,820 $ 8,924,107
Additions and deletions to compensated absences are shown net since it is
impracticable to determine these amounts separately.
f) The following table summarizes the Town's future debt service requirements for
Serial Bonds as of December 31, 2Q15:
Year Ending Principal Interest
2016 $ 2,555,000 $ 1,267,909
2017 2,635,000 1,149,853
2018 2,675,000 1,062,383
2019 2,245,000 985,294
2020 2,135,000 909,006
2021-2025 10,765,000 3,293,288
2026-2030 10,520,000 1,128,566
Totals $33.530,000 $ 9.796,299
g) Advance Refunding of Bonds
On July 29, 2015, the Town issued $9.02 million in General Obligation Bonds with
an average interest rate of 2.53% to advance refund the $1.2 million outstanding
2005 Series bonds and $8.3 million of the $9.6 million outstanding 2007 Series
bonds, which combined, had an average interest rate of 4.12%. After payment of
$117 thousand in underwriting fees and other issuance costs, net proceeds of$10
million was deposited with an escrow agent, of which $1.2 million was subsequently
used to pay off the 2005 Series bonds with the remaining $8.8 deposited in an
irrevocable trust with the escrow agent to provide for future debt service payments
on the refunded portion of the 2007 Series bonds ($8.3 million). As a result, all of
the 2005 and part of the 2007 Series bonds are considered to be defeased and the
liability for those bonds has been removed from the general long-term debt account
group.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
5. Indebtedness (continued)
Long-Term Debt (continued)
The Town advance refunded the 2005 and 2007 Series bonds to reduce its total
debt service payments over the next 15 years by over $.75 million and to obtain an
economic gain (difference between the present values of the debt service payments
on the old and the new debt) of over $.5 million.
6. Retirement System
Plan Description
The Town of Southold participates in the New York State and Local Employees'
Retirement System (ERS) and the New York State and Local Police and Fire
Retirement System (PFRS) which are collectively referred to as New York State and
Local Retirement System (the System). These are cost-sharing multiple-employer
defined benefit retirement systems. The net position of the System is held in the New
York State Common Retirement Fund (the Fund), which was established to hold all net
assets and record changes in fiduciary net position allocated to the System.
The Comptroller of the State of New York serves as the trustee of the Fund and is the
administrative head of the System. System benefits are established under the
provisions of the New York State Retirement and Social Security Law (RSSL). Once a
public employer elects to participate in the System, the election is irrevocable. The New
York State Constitution provides that pension membership is a contractual relationship
and plan benefits cannot be diminished or impaired. Benefits can be changed for future
members only by enactment of a State statute. The Unit of Xxxxxxx also participates in
the Public Employees' Group Life Insurance Plan (GLIP), which provides death benefits
in the form of life insurance. The System is included in the State's financial report as a
pension trust fund. That report may be found at
www.osc.state.ny.us/retire/publications/index.php or obtained by writing to the New
York State and Local Retirement System, 110 State Street, Albany, NY 12244
Benefits Provided
The System provides retirement benefits as well as death and disability benefits.
Tiers 1 and 2
Eligibility: Tier 1 members, with the exception of those retiring under special retirement
plans, must be at least age 55 to be eligible to collect a retirement benefit. There is no
minimum service requirement for Tier 1 members. Tier 2 members, with the exception
of those retiring under special retirement plans, must have five years of service and be
at least age 55 to be eligible to collect a retirement benefit. The age at which full
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
benefits may be collected for Tier 1 is 55, and the full benefit age for Tier 2 is 62.
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Benefit Calculation: Generally, the benefit is 1.67 percent of final average salary for
each year of service if the member retires with less than 20 years. If the member retires
with 20 or more years of service, the benefit is 2 percent of final average salary for each
year of service. Tier 2 members with five or more years of service can retire as early as
age 55 with reduced benefits. Tier 2 members age 55 or older with 30 or more years of
service can retire with no reduction in benefits. As a result of Article 19 of the RSSL,
Tier 1 and Tier 2 members who worked continuously from April 1, 1999 through October
1, 2000 received an additional month of service credit for each year of credited service
they have at retirement, up to a maximum of 24 additional months.
Final average salary is the average of the wages earned in the three highest
consecutive years. For Tier 1 members who joined on or after June 17, 1971, each year
of final average salary is limited to no more than 20 percent of the previous year. For
Tier 2 members, each year of final average salary is limited to no more than 20 percent
of the average of the previous two years.
Tiers 3, 4, and 5
Eligibility: Tier 3 and 4 members, with the exception of those retiring under special
retirement plans, must have five years of service and be at least age 55 to be eligible to
collect a retirement benefit. Tier 5 members, with the exception of those retiring under
special retirement plans, must have ten years of service and be at least age 55 to be
eligible to collect a retirement benefit. The full benefit age for Tiers 3, 4 and 5 is 62.
Benefit Calculation: Generally, the benefit is 1.67 percent of final average salary for
each year of service if the member retires with less than 20 years. If a member retires
with between 20 and 30 years of service, the benefit is 2 percent of final average salary
for each year of service. If a member retires with more than 30 years of service, an
additional benefit of 1.5 percent of final average salary is applied for each year of
service over 30 years. Tier 3 and 4 members with five or more years of service and Tier
5 members with ten or more years of service can retire as early as age 55 with reduced
benefits. Tier 3 and 4 members age 55 or older with 30 or more years of service can
retire with no reduction in benefits.
Final average salary is the average of the wages earned in the three highest
consecutive years. For Tier 3, 4 and 5 members, each year of final average salary is
limited to no more than 10 percent of the average of the previous two years.
Tier 6
Eligibility: Tier 6 members, with the exception of those retiring under special retirement
plans, must have ten years of service and be at least age 55 to be eligible to collect a
retirement benefit. The full benefit age for Tier 6 is 63 for ERS members and 62 for
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
PFRS members.
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Benefits Provided (continued
Benefit Calculation: Generally, the benefit is 1.67 percent of final average salary for
each year of service if the member retires with less than 20 years. If a member retires
with 20 years of service, the benefit is 1.75 percent of final average salary for each year
of service. If a member retires with more than 20 years of service, an additional benefit
of 2 percent of final average salary is applied for each year of service over 20 years.
Tier 6 members with ten or more years of service can retire as early as age 55 with
reduced benefits.
Final average salary is the average of the wages earned in the five highest consecutive
years. For Tier 6 members, each year of final average salary is limited to no more than
10 percent of the average of the previous four years.
Special Plans
The 25 Year Plans allow a retirement after 25 years of service with a benefit of one half
of final average salary, and the 20 Year Plans allow a retirement after 20 years of
service with a benefit of one half of final average salary. These plans are available to
certain PFRS members, sheriffs, and correction officers.
Ordinary Disability Benefits
Generally, ordinary disability benefits, usually one third of salary, are provided to eligible
members after ten years of service; in some cases, they are provided after five years of
service.
Accidental Disability Benefits
For all eligible Tier 1 and Tier 2 ERS and PFRS members, the accidental disability
benefit is a pension of 75 percent of final average salary, with an offset for any Workers'
Compensation benefits received. The benefit for eligible Tier 3, 4, 5 and 6 members is
the ordinary disability benefit with the years of service eligibility requirement dropped.
Ordinary Death Benefits
Death benefits are payable upon the death, before retirement, of a member who meets
eligibility requirements as set forth by law. The first $50,000 of an ordinary death benefit
is paid in the form of group term life insurance. The benefit is generally three times the
member's annual salary. For most members, there is also a reduced post retirement
ordinary death benefit available.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Post Retirement Benefit Increases
A cost of living adjustment is provided annually to: (i) all pensioners who have attained
age 62 and have been retired for five years; (ii) all pensioners who have attained age 55
and have been retired for ten years; (iii) all disability pensioners, regardless of age, who
have been retired for five years; (iv) ERS recipients of an accidental death benefit,
regardless of age, who have been receiving such benefit for five years and (v) the
spouse of a deceased retiree receiving a lifetime benefit under an option elected by the
retiree at retirement. An eligible spouse is entitled to one-half the cost of living
adjustment amount that would have been paid to the retiree when the retiree would
have met the eligibility criteria. This cost of living adjustment is a percentage of the
annual retirement benefit of the eligible member as computed on a base benefit amount
not to exceed $18,000 of the annual retirement benefit. The cost of living percentage
shall be 50 percent of the annual Consumer Price Index as published by the U.S.
Bureau of Labor, but cannot be less than 1 percent or exceed 3 percent.
Contributions
The System is noncontributory except for employees who joined the New York State
and Local Employees' Retirement System after July 27, 1976, who contribute 3 percent
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
percent of their salary for their entire length of service. For Tier 6 members, the
contribution rate varies from 3 percent to 6 percent depending on salary. Generally, Tier
5 and 6 members are required to contribute for all years of service. Under the authority
of the NYSRSSL, the Comptroller annually certifies the actuarially determined rates
expressly 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 percent of the contributions required, and were as
follows:
ERS PFRS
2015 $2,142,633 $ 1,762,500
2014 $2,266,683 $ 1,455,243
2013 $2,554,814 $ 2,073,878
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.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Contributions (continued)
• For SFY 2005-06, the amount in excess of 9.5 percent of employees' covered
pensionable salaries.
• 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.
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.
• The interest rate will be set annually, and will be comparable to taxable fixed
income investments of a similar duration.
• 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 willbe 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.
Chapter 105 of the Laws of 2010 of the State of New York authorizes local governments
to make available a retirement benefit incentive program with an estimated total cost of
$359,639, of which $71,926 was charged to expenditures in the Governmental Funds in
the current fiscal year. The cost of the program will be billed and paid over five years
beginning February 1, 2012.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Contributions (continued)
Chapter 57 of the Laws of 2013 of the State of New York was enacted that allows local
employers to amortize a portion of their retirement bill for up to 12 years in accordance
with the following stipulations:
• The maximum amount an employer can amortize is the difference between the
normal annual contribution (total bill, excluding payments for deficiency, group
life, previous amortizations, incentive costs, and prior year adjustments) and the
graded contribution.
• For subsequent State fiscal years (SFYs), the graded rate will increase or
decrease by up to one-half of one percent depending on the gap between the
increase or decrease in the System's average rate and the previous graded rate.
• The interest rate will be set annually, and will be comparable to a 12-year US
Treasury Bond plus 1 percent.
• For subsequent SFYs 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.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions
At December 31, 2015, the Town reported a liability of $1,499,367 for its proportionate
share of the ERS net pension liability and $778,124 for its proportionate share of the
PFRS net pension liability. The net pension liabilities were measured as of March 31,
2015 and the total pension liabilities used to calculate the net pension liabilities were
determined by an actuarial valuation as of that date. The Town's proportion of the net
pension liabilities were based on a projection of the Town's long-term share of
contributions to the pension plans relative to the projected contributions of all
participating members, actuarially determined.
At December 31, 2015, the Town's proportion for ERS was 0.0418045 percent and
.018691 percent for PFRS.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions (continued)
For the year ended December 31, 2015, the Town recognized pension expense of
$2,011,450 for ERS. At December 31, 2015, the Town reported deferred outflows of
resources and deferred inflows of resources related to ERS pensions from the following
sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and actual experience $ 45,208 $ 0
Changes of Assumptions 0 0
Net difference between projected and actual earnings
on pension plan investments 245,291 0
Changes in proportion and differences between LG
contributions and proportionate share of contributions 0 32,414
LO contributions subsequent to the measurement date 1,499,367
Total $1,789,866 $32,414
$1,499,367 reported as deferred outflows of resources related to pensions resulting
from Town's contributions subsequent to the measurement date will be recognized as a
reduction of the net pension liability in the year ended December 31, 2016. Other
amounts reported as deferred outflows of resources and deferred inflows of resources
related to pensions will be recognized in pension expense as follows:
Year ended December 31:
2016 $64,521
2017 $64,521
2018 $64,521
2019 $64,521
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions (continued)
For the year ended December 31, 2015, the Town recognized pension expense of
$1,766,806 for PFRS. At December 31, 2015, the Town reported deferred outflows of
resources and deferred inflows of resources related to PFRS pensions from the
following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between expected and actual experience $62,044 $ 0
Changes of Assumptions 0 0
Net difference between projected and actual earnings
on pension plan investments 172,731 0
Changes in proportion and differences between LG
contributions and proportionate share of contributions 0 196,819
LG contributions subsequent to the measurement date 1,360,111
Total $1,594,866 $32,414
$1,360,111 reported as deferred outflows of resources related to pensions resulting
from Town's contributions subsequent to the measurement date will be recognized as a
reduction of the net pension liability in the year ended December 31, 2016. Other
amounts reported as deferred outflows of resources and deferred inflows of resources
related to pensions will be recognized in pension expense as follows:
Year ended December 31:
2016 $64,521
2017 $64,521
2018 $64,521
2019 $64,521
Actuarial Assumptions
The total pension liability at March 31, 2015 was determined by using an actuarial
valuation as of April 1, 2014, with update procedures used to roll forward the total
pension liability to March 31, 2015. The actuarial valuation used the following actuarial
assumptions:
ERS PFRS
Inflation 2.7% 2.7%
Salary increases 4.9% 6.0%
Investment rate of return 7.5% 7.5%
(net of investment expense, including inflation)
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Actuarial Assumptions (continued)
Annuitant mortality rates are based on April 1, 2005 — March 31, 2010 System
experience with adjustments for mortality improvements based on the Society of
Actuaries' Scale MP-2014.
The actuarial assumptions used in the April 1, 2014 valuation are based on the results
of an actuarial experience study for the period April 1, 2005 — March 31, 2010.
The long term expected rate of return on pension plan investments was determined in
accordance with Actuarial Standard of Practice (ASOP) No. 27, Selection of Economic
Assumptions for Measuring Pension Obligations. ASOP No. 27 provides guidance on
the selection of an appropriate assumed investment rate of return. Consideration was
given to expected future real rates of return (expected returns, net of pension plan
investment expense and inflation) for equities and fixed income as well as historical
investment data and plan performance.
Best estimates of arithmetic real rates of return for each major asset class included in
the target asset allocation as of March 31, 2015 are summarized below:
Long-Term Expected
Asset Class Real Rate of Return
Domestic equity 7.30%
International equity 8.55%
Private equity 11.00%
Real estate 8.25%
Absolute return strategies 6.75%
Opportunistic portfolio 8.60%
Real assets 8.65%
Bonds and mortgages 4.00%
Cash 2.25%
Inflation-indexed bonds 4.00%
Discount Rate
The discount rate used to calculate the total pension liability was 7.5%. The projection
of cash flows used to determine the discount rate assumes that contributions from plan
members will be made at the current contribution rates and that contributions from
employers will be made at statutorily required rates, actuarially. Based upon the
assumptions, the System's fiduciary net position was projected to be available to make
all projected future benefit payments of current plan members. Therefore the long term
expected rate of return on pension plan investments was applied to all periods of
projected benefit payments to determine the total pension liability.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail,Notes on all Funds and Account Groups (continued)
6. Retirement System (continued)
Sensitivity of the Proportionate Share of the Net Pension Liability to the Discount Rate
Assumption
The following presents the Town's proportionate share of the net pension liability
calculated using the discount rate of 7.5 percent, as well as what the Town's
proportionate share of the net pension liability would be if it were calculated using a
discount rate that is 1-percentagepoint lower (6.5 percent) or 1-percentage-point higher
(8.5 percent) than the current rate:
Town's proportionate share of the net pension liability
1% Decrease Current Assumption 1% Increase
(6.5%) (7.5%) (8.5%)
For ERS $9,413,318 $1,412,259 ($5,342,619)
For PFRS $6,850,135 $514,488 ($4,795,167)
Pension plan fiduciary net position
The components of the current-year net pension liability of the employers as of March
31, 2015, were as follows:
(Dollars in Thousands)
Employees' Police and Fire
Retirement System Retirement System Total
Employers' total pension liability 164,591,504 28,474,417 193,065,921
Plan net position (161,213,259) (28,199,157) (189,412,4161
Employers' net pension liability $ 3,378,245 $ 275,260 $ 3.653.505
Ratio of plan net position to the
employers' total pension liability 97.9% 99.0% 98.1%
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 an insurance company whose premiums are based on the benefits paid during
the year. The Town recognizes the cost of providing benefits by recording its share of
insurance premiums as an expenditure in the year paid.
During the year, $1,580,083 paid on behalf of 118 retirees and $2,108,446 was paid on
behalf of 201 active employees and is recorded as an expenditure in the General Fund
Whole Town, General Fund Part Town, Highway Fund Part Town and Solid Waste
District.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
C. Detail Notes on all Funds and Account Groups (continued)
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 Contingencies
The Town is self-insured for general liability insurance. The amount of general liability
claims outstanding at December 31, 2015 is $6,198 and have been reserved against fund
balance in the General Fund. The Town also has established an insurance reserve in the
General Fund for liability claims, the outcome of which are presently unknown.
1. 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.
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.
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
D. Commitments and Contingencies (continued)
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, 2015 were
approximately $469,599. Future obligations over the primary terms of the Town's
leases as of December 31, 2015 are as follows:
2016 $ 161,431
2017 130,345
2018 109,248
2019 & thereafter 121,985
Total $ 523,009
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, 2015:
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 $ 1,039,070 $ 177,219 $ 18,815,787 $ 1,375,000 $ 391,796 $ 1,375,000
Fishers Island Waste Mgt District 726,043 125,256 4,017,141 140,032
Cutchogue-New Suffolk Park Dist. 161,450 31,161 145,705 31,161
Southold Park District 208,580 72,948 1,155,726 72,948
Orient-East Marion Park District 13,935 9,796 460,135 9,976
Mattituck Park District 1,094,955 93,575 2,546,132 97,473
Orient Mosquito District 55,522 19.686 30,891 20,463
$3,299,555 $ 529,641 $27,171,517 $ 1,375,000 $ 763,849 $ 1,375,000
Condensed Statement of Revenues, Expenditures and Changes in Fund Balances
Excess
(Deficiency)
Expenditures of Revenues
Capital Debt and
Revenues Current Outlay Service Expenditures
Fishers Island Ferry District $ 3,626,533 $ 2,923,054 $ 755,403 $ 383,545 $ (435,469)
Fishers Island Waste Mgt District 604,210 620,641 7,495 (23,926)
Cutchogue-New Suffolk Park Dist. 140,102 78,994 46,194 14,914
Southold Park District 374,811 321,048 53,763
Orient-East Marion Park District 40,617 65,572 (24,955)
Mattituck Park District 1,001,378 357,687 162,862 480,829
Orient Mosquito District 86,717 84,066 2,651
$ 5,874,368 $ 4,451,062 $ 971,954 $ 383,545 $ 67,807
TOWN OF SOUTHOLD
Notes To Financial Statements
December 31, 2015
F. Subsequent Events
On April 7, 2016, the Town issued serial bonds for the Fishers Island Ferry District in the
amount of $550,000. The Effective Net Interest Rate on the bonds is 1.413%. The final
maturity of the bonds is 2021.