HomeMy Public PortalAbout1960-1961 AuditCITY OF MOAB
MOAB, UTAN
REPORT ON EXAMINATION
December 31, 1961
12 Months Ended December 31, 1961
INDEX
Page
Accountant's Report 1
Combined Balance Sheets, December 31, 1961
Assets 7
Eiabilties, Reserves S Surplus $
General Fund, 12 Months Ended December 31, 1961
Revenues & Expenditures 9
Special Assessment Funds, 12 Months Ended
December 31, 1961
Cash Receipts & Disbursements 13
Bond Redemption & Interest Funds, 12 Months
Ended December 31, 1961
Revenues & Expenditures
Public Utility Fund, 12 Months Ended
December 31, 1961
Income & Expense
14
15
E. J. CLAUS
I1r P ELOG
ALPINE 3-51B1
MOAB, UTAH
Me",,, �' r.i r. •.. E P I I s
May 20, 1962
Honorable Mayor and City Council
City of Moab
Moab, Utah
Gentlemen:
have reviewed the Balance Sheets of the Municipal Funds of the City
of Moab as of December 31, 1961, and the statements of Revenues and
Expenditures, Receipts and Disbursements or Income and Expense for the
12 months ended December 31, 1961. The examination was made in accord-
ance with generally accepted standards and included such tests of the
accounting records and other data as was considered necessary.
ORGANIZATION & OFFICIALS
The City of Moab, Grand County, Utah, is a city of the third class with
the Mayor - Council type of Government. As of December 31, 1961, the
City Officials were as follows:
Mayor:
City Council:
Administrative
Assistant to the Mayor:
City Attorney:
City Judge:
City Recorder:
City Treasurer
K. E. McDounald
Richard S. Parsons, Dr. Paul R.
Mayberry, L. M. Erbes, S. E.
Scharf and Edd 1= Provonsha
Darrell Reardon
Robert H. Ruggeri
Donald Crist
Darrell Reardon
H. W. Balsley
SCOPE OF WORK PERFORMED
CASH Cash in banks, aggregating $56,664 at December 31,
1961, was verified by reconciling_ the balances
confirmed directly to us by the depositories.
NOTES AND The Public Utility Fund accounts receivable for
ACCOUNTS water and sewer charges were tested by negative
RECEIVABLE confirmation as of May 31, and December 31, 1961.
Tests were also made of the details shown on the
City Records. All other receivables were examined in detail and
reviewed with responsible City Officials.
INVESTMENTS Positive confirmation was requested of the
depositories of the Investments of the Public
Utility Fund for Sinking Fund purposes. Zions National Bank
confirmed on the original request. The First Security Bank of Utah
did not confirm the investments on either the first or second request.
Since the Sinking Funds were in the process of being closed in 1962,
other methods were used to satisfy ourselves that the investments
existed.
OTHER All other assets were reviewed with responsible
ASSETS City Officials and/or checked during the period
subsequent to December 31, 1961.
LIABILITIES The liabilities were not confirmed by correspondence
with the individual creditors, but by test comparison
with vendors' statements subsequent to December 31, 1961. Other liabil-
ities were reviewed and tested or reconciled from their inception to the
date of this report.
SUMMARY The examination was directed primarily to a verification
of the Balance Sheets of the various funds as of
December 31, 1961, to a general review of the results of operations for
the year then ended and the application of the Utah Uniform Accounting
System. Although the examination did not extend to a detailed check of
all cash and other bookkeeping entries through the year, numerous
documents and entries were scrutinized by us in connection therewith.
To the extent that such documents and entries were examined, and based
on information and explanations obtained from City Officials and employees,
the accounts were found to be in order. It should be understood that
since the examination, white extensive as to detail, did not comprise
a complete check of all cash and other transactions throughout the year,
and would not necessarily disclose irregularities, should any exist.
GENERAL Statistically the 1961 Revenues and Expenditures
FUND varied as follows:
Percent of Percentage of Total
REVENUES Previous Year _1960 1961 Changeµ
Property Taxes 86.74% 25.65% 18.54%-16.96%
Sales Taxes 119.75 28.02 27.95 +27.59
Licenses & Permits 146.81 23.58 28.83 +55.01
Fines, Forfeitures,
& Penalties 130.20 5.16 5.59 + 7.76
Revenue from Use of
Money & Property 57.92 .20 .IO
Revenue from Other '0.43
Agencies 196.84 4.06 6.65 +19.59
Charges for Current
Services 111.74 13.20 12.28 + 7.72
Other 54.84 .13 .06 - 0.28
TOTAL 120.06 100.00% 100.001- 100.00%
Page 2
Percent of Percentage of Total
EXPENDITURES Previous Year �1960 _ 1961 Change
Administrative Dept.
Municipal Court
Police Department
Inspection Dept.
Dog Pound
Streets & highways
Waste Collection
Sanitation
Parks
Swimming Pool
Miscellaneous
TOTAL
143.96%
99.33
126.88
110.71
79.74
117.56
120.48
64.22
70.47
106.71
69.61
15.73%
4.48
19.53
1.65
1.99
34.40
9.45
1.66
4.67
3.60
2.84
19.31%
3.80
21.13
1.55
1.35
34.48
9.71
.91
2.80
3.28
1.68
+39.99%
- .17
+30.36
+ 1.02
- 2.33
+34.93
+11.19
- 3.43
- 7,97
+ 1.4o
- 4,99
117.30 loo,00% l00.00°1 10o.00%
SPECIAL An examination of the Special Assessments Receivable
ASSESSMENT showed that District ##1 has three accounts delinquent
FUNDS as of December 31, 1961, totaling $177.19, of which
$130.29 is principal and $46.90 is interest.
District #2 has 17 delinquent accounts totaling $2,348.83, $1,809.94
principal and $538.89 interest as of December 31, 1961. It is due to this
this delinquency that it became necessary for the General Fund to Loan
this Fund $1,500.00 so that the Bond obligations could be met.
BOND On the advice of the City of Moab's Bond Underwriting
REDEMPTION Agents, Funds are being transferred to the various banks
& INTEREST paying the Principal and Interest on the General Obligations
FUND sufficiently in advance that the Funds are in the Paying
Agents hands on the due dates. 1961 was the first year
that the City of Moab did not transmit the necessary funds on the due date.
Such procedure was not anticipated in setting up the budget and resulted in
overexpenditures of $9,000 as a result of paying the Principal and Interest
on the 1/1/59 Bond Series in December, 1961, instead of January, 1962.
The Unappropriated Surplus is being maintained in order to have funds
available fat the payments coming due prior to the receipt of the Property
Taxes, in the past it has been necessary to borrow from other funds
during this interim period.
It is the Policy of the City to transfer from the Public Utility Fund,
when all Revenue Bond requirements have been met, sufficient funds to
pay the 1/1/59 General Obligation Bond Series. The proceeds of this
Series having been contributed to that Public Utility Fund for construction
purposes.
TRUST AND This Fund is primarily used to better reflect the actual
AGENCY operating costs of the Municipality without excessive
FUND bookkeeping detail. The principal problem is that the
Public Utility Fund uses an accrual method of accounting
while the General Fund is on a cash basis. The General Fund, if it did
not transfer funds monthly to this account would be continuously three
months behind in reflecting the costs of Employee Benefits.
Page 3
In addition the City handles the Payroll for the Recreation Board and the
Golf Course which are reflected as Accounts Receivable as well as Returned
Checks to any department of the City and other Miscellaneous Receivables
such as Police Uniforms, Etc.
PUBLIC
UTILITY
FUND
The detail of the Cash and the various Revenue Bond
Sinking Funds is as follows:
Cash on Hand
Cash in Bank
Operating Account
Construction Account
6/I/51 Bond Series
7/1/51 Bond Series
7/1/54 Bond Series
7/1/56 Bond Series
Investment - 6/1/51
Bond -Principal
Interest
Premium
TOTAL
ACCRUED
CASH INVESTMENTS INTEREST
50.00 $ 50.00
1,123.57
1.00
3,528.54
19,319.35
15,078.98
12,518.60
5,000.00
63.33
115.00
5_6.798.3 7
1,123.57
1.00
1,532.94
1,669.40
5,512.51
8,o03.44
115.00
$17.892.86
$ 1,970.51
17,487,23
9,492.51
4,494.07
5,000.00
63.33
115.0.0
$38.622.65.
All Revenue Bond Sinking Fund Requirements through May 31, 1962,
met, however, as of January 1, 1962, all Revenue Bond Series are
called or funds deposited adequate to meet the call requirements
next call date.
$ 25.09
162.72
73.96
21.09
$282.86
have been
either
on the
For 1960 and 1961 Water Consumption & Connections were as follows:
January
February
March
April
May
.tune
July
August
September
October
November
December
TOTAL
CONNECTIONS
1961
845
851
86o
865
878
887
884
914
936
989
956
956
1960
772
771
78o
785
800
804
813
815
834
841
840
846
INCREASE
(DECREASE)
73
80
8o
8o
78
83
71
99
102
148
116
ii0
PER
1,000 GALLONS
196i
$ 12,376
14,762
16,926
17,917
25,628
43,492
36,225
38,068
18,651
19,546
17,845
13,396
1960
$ 10,251
10,077
12,313
23,944
23,040
31,934
43,785
35,689
24,518
13,371
12,156
14,194
INCREASE
(DECREASE)
$ 2,125
4,685
4,613
(6,027)
2,588
11,558
(7,560)
2,379
(5,867)
6,175
5,689
(798)
S274,832 $255,272 $13.560
Page 4
In 1961 Water Consumption averaged 3,047,762 gallons per connection or
a decrease of 109,903 from the 1960 consumption of 3,157,665. The
income varied as follows:
Annual Water Income
Per Connection
Average Water Income
Per 1,000 Gallons
Average Sewer Income
Per 1,000 Gallons of
Water Sold
Net Operating Income
Per Connection
Per 1,000 Gallons
of Water Consumed
INSURANCE
COVERAGE
& SURETY
BONDS
1961
$838.07
0.2750
0.1295
328.27
0.1077
INCREASE
1960 (DECREASE)
$841.77 $(3.70)
0.2666 0.0084
0.1235
275.46
0.0872
0.0060
52.81
0.0205
A list of the policies covering all of the City of
Moab's Funds and Departments is as follows:
LIMITS OF POLICY RISKS COVERED INSURER EXPIRATION DATE
$ 10,000.00 Treasurers Bond American Surety 5/9/62
Co, of N. Y.
2,500.00 Employees Blanket American Surety 4/9/64
Bond Co. of N. Y.
59,130.00 Fire & Extended American Surety 2/27/64
Coverage Co, of N. Y.
18,500.00 Fire & Extended Utah Home Fire 2/27/64
Coverage Ins. Co
16,650.00 Fire & Extended Home Insurance 2/27/64
Coverage Co, of N. Y.
42,000.00 Fire & Extended Hanover Ins. 2/27/64
Coverage Co. N. Y,
$100.00 Deductable Comprehensive Western Assur- 1/2/62
Collision ance Co.
A. C. V.
200,000.00
200,000.00
25,000.00
25,000.00
By Law
16,000.00
Bodily Injury Auto Western Assur- 1/2/62
ance Co.
Bodily Injury Other Western Assur- 1/2/62
ance Co.
Property Damage Western Assur- 1/2/62
Auto ance Co.
Property Damage Western Assur- 1/2/62
Other ance Co.
Workmen Compensation State Ins. Fund 6/30/62
Contractor Equipment Glen Falls Ins. 2/14/63
Co.
Page 5
Verb t,y�l�y yours.
aus
tified Public Accountant
Page 6
CITY OF MOAB
Grand County, Utah
ASSETS
CASH ON HAND & IN BANK
NOTES RECEIVABLE
ACCOUNTS RECEIVABLE_
Water & Sewer 12,765
Interest 283
Special Assessments 34,965
Due from other Funds 48,500 48,500
Due from other Governmental
Otherts 41,559 33,421
1,303
INVESTMENTS 38,859 236
AMOUNT TO BE PROVIDED FOR
FUTURE BOND & INTEREST
RETIREMENT 517,58o
FIXED ASSETS
Land 82,246
Building & Structures 348,883
Improvements other than
Buildings & Structures 769,604
Machinery & Equipment 61,857
Automobile & Trucks 36,391
Office Furniture & Equipment 5.544
Work in Process 16,988
Accumulated Depreciation (11 ,061)
TOTAL ASSETS
COMBINED BALANCE SHEETS
All Funds - December 31, 1961
SPECIAL BOND
IMPROVEMENT REDEMPTION T US'C & PUBLIC GENE AL
GENERAL ASSESSMENT & INTEREST AGENCY UTILITY GFIXEDL BONDED
ODEBT-- TOTAL Fes`
FUND FUNDS FUND &
-- - F� UND FUND ASSETS
$ 56,910 $ 6,108 ---------�-=-�.. I N�1=�E REST
$ 14,5o7 $ 239 $ 15,150 $ 3,013 $ 17,893 $
3,330
$1,967,506 1.J13,265
Denotes Deduction or Negative Amount,
34,965
1,050
7,088
1,303
3,330
12,765
283
38,623
64,727
335,720
683,942
6,061
17,548
2,746
16,988
(11O 061)
17,519
13, 16,3
85,662
55,796
18,843
2,798
1 --1.2,25/ _ 3 20L 22 z38 1_1316 $1 ,g90065 1 3 75i
517,580
Page 7
LIABILITIES
Accounts Payable 3,356
Payroll Taxes & Withholding 5O
Payable t 3,306
316
Due to Other Funds �,
48,50000 4,316
Due to Ocher Governmental 1,500 47,000
Units 6,296 380
Accrued Bond Interest 3,602 5,916
Customer's Deposits 1,444 3,602
Bonds Payable 578,700 1,444
Bond Interest Payable 33•700 169,000 in Future Years 141,�•8O 376,000
Contingent Liability to
General Fund 141,580
CITY OF MOAB
Grand County, Utah
COMBINED BALANCE SHEETS
All Funds - December 31, 1961
SPECIAL BOND
RESERVES
----» _._-- IMPROVEMENT � _ ---.� GENERAL
__?LfABILITfES! RESE VES GENERAL REDEMPTION TRUST P GENERAL BONDED& SURPLUSASSESSMENTGUARANTY & INTEREST AGENCY UTILITY FIXED DEBT &TOALFUD FUND FUNDS F FUND FUND ASSETS
INTEREST
CONTRIBUTIONS
Municipal
Federal
Other
RESERVE FOR BOND
RETIREMENT
SURPLUS
Surplus Invested in General
Fixed Assets
Unappropriated Surplus
Earned Surplus
TOTAL LIABILITIES, RESERVES
& SURPLUS
467,998
133,509
116,328
50,445
193,78i
125,634 87,835
92,017
15,557 4 22,238
467,998
133,509
116,328
50,445
2 01
193,781
I 6;1;i65
11) _06 � 2§AlL $ 35.204 $ 22038 $ 4,316 $1,090, 565 $, 193, 781 517,580
Page 8
CITY OF MOAB
Grand County, Utah
REVENUES
PROPERTYPROPERTY TAXES
SALES TAXES
LICENSES S PERMITS
Gross Business Licenses
Other Business Licenses
Beer Licenses
Building & Construction
Permits
Parking Meter Revenue
Other Licenses & Permits
F1NE5 FORFEITURES LPERMITS
Parking Meter Fines
other
REVENUE FROM USE OF MONEY
& PROPERTY
REVENUE FROM OTHER AGENCIES
Liquor Fund Allotment
Class C Road Fund Allotment
Grants from other Political
Units
CHARGES FOR CURRENT SERVICES
Special Services ny City
Department
Refuse Collection
Swimming Pool
Cemetery
GENERAL FUND
Revenue & Expenditures
YEAR ENDED DECEMBER 31
1- �60 19 1
ACTUAL
OVER
ACTUAL ACTUAL (UNDER)
BUDGET BUDGET
112.2122 43 884 49 600
55,260 6__ 66 174 6o OOO
30,545
7,183
2,093
2,895
2,903
875
2,417
7755
i-1(2,172
38,585
10,195
2,360
8,339
7,488
i z2 89
6- -f 6
5,292
7�952
1-- i3 244
35,000
7,000
2,000
4,000
6,000
1,o0o
5--- 5,000
5,000
9 Ooo
1- -14 oo0
5 716
--6174
3,585
3,195
3 6o
4,339
1,488
_ 289
1-� 3 256
292
i 048
756
404 --- 234 Soo 26b
1,850 5,257
3,152 8,394
8,002
1,507
19,163
5,292
65
�z77
2, 100
15,751
6,000
6,50o
12,500
1,737 2,000
21,879 19,000
5,467 5,o0o
29,o83 76700
(743)
1,894
- 2 100,
--- 3 � 251
(263)
2,879
467
S
Page 9
C I T'Y OF MOAB
Grand County, Utah GENERAL FUND
Revenue & Expenditures
YEAR ENDED DECEMBER 31,
1960 1961
ACTUAL
OVER
REVENUES, Cont'd ACTUAL ACTUAL BUDGET BUDGET(UNDER)
OTHER REVENUE
Sale of Real & Personal
Property $ 102 $ 49 $ 49
Sundry
246 187 $ 500 44 500
TOTAL REVENUES 197,202 236�762 21�0 118 662
EXPENDITURES
GENERAL _GOVERNMENT
Administrative
Salaries & Wages
Material, Supplies &
Services
Other Charges
Capital Outlays
Municipai Court
Salaries & Wages
Materials, Supplies &
Services
Other Charges
Total General Government
14,490 20,629 17,000 3,629
11,270 15,816 16,200 (384)
1,459 2,195 2,200 (5)
1,448 2,630 1,600 1,030
28,667 41,270 37,000 _ 4�270
7,275 6,681 7,6o0 (919)
428 1,o68 85o
463 362 85o
8,i66 _ 8 ill 9,3o0
36,833 49,381 46,3oo
218
3081
PUBLIC SAFETY
Police Department
Salaries & Wages 24,782 33,794 3o,4o0 3,394
Materials, Supplies &
Services 7,259 7,145 7,825 (680)
Other Charges 1,938 2,204 2,100 104
Capital Outlays _ 1,610 2,012 2,500 (488)
35�589 _ 45,155 42,825 2 33o
Inspection Department
Salaries & Wages 2,284 2,451 2,550 (99)
Materials, Supplies &
Services 567 733 800 (67)
Other Charges '145 133 180 47
2_,996 3,317 3 530
Page 10
CITY OF MOAB GENERAL FUND
Grand County, Utah Revenue & Expenditures
YEAR ENDED DECEMBER 31,
1940 • 1961
ACTUAL
OVER
(UNDER)
EXPENDITURES, Cont'd ACTUAL ACTUAL BUDGET BUDGET
Doc] Pound
Salaries & Wages $ 2,161 $ 2,052 $ 2,500 $ (448)
Materials, Supplies, &
Services 489 638 810 (172)
Other Charges 138 195 175 20
Capital Outlays 830 100 (100)
3,618 2,885 3,585 700)
Total Public Safety
PUBLIC WORKS
Streets & Highways
(Including Class C)
Road Fund
Salaries & Wages
Materials, Supplies, &
Services
Other Charges
Capital Outlays
Waste Collection
Salaries & Wages 455 381 500 (119)
Materials, Supplies &
Services 16,732 ' 20,340 18,000 2,340
Other Charges 29 21 42 (21)
17,216 20,742 18,542 2,200
424203 51,357 49,940 1,417
13,192 16,763 19,000 (2,237)
Total Public Works
30,412 46,026 42,779 3,247
1,887 1,888 2,500 (612)
17,187 9,009 10,000 (991)
62,678 73,686 74,279 (593)
79,894 94,428 92,821 1,607
PUBLIC HEALTH
Sanitation
Salaries & Wages 1,819 1,300 2,100 (800)
Materials, Supplies
& Services 1,086 570 1,550 (980)
Other Charges 116 70 150 (80)
3,021 1,940 3,800 (1,860)
Total Public Health
3,021 1,940 _ 3,800 (1,860)
Page 1 1
CITY OF MOAB
Grand County, Utah
EXPENDITURES Cont'd
PARKS & RECREATION
Parks
Salaries & Wages
Materials, Supplies, &
Services
Other Charges
Capital Outlays
Swimming pool
Salaries & Wages
Materials, Supplies, &
Services
Other Charges
Total Parks & Recreation
MISCELLANEOUS
Contributions
Transfer to Bond
Redemption Fund
Total Miscellaneous
TOTAL EXPENDITURES
Excess or (Deficiency) of
Revenues over Expenditures
Unappripriated Surplus
January 1
UNAPPRIPRIATED SURPLUS
DECEMBER 31
2,997
283
1 , l92
8 507
153
6,105
bo
302
,
15,067
4,270
901
5 1171
- 5 171
18— 2�189
15,013
53,961
GENERAL FUND
Revenue & Expenditures
YEAR ENDED DECEMBER 31
-- 10 1961
ACTUAL
OVER
ACTUAL ACTUAL BUDGE. (UNDER}
BUDGET
4,035 $ 3,912 $ 4,200 $ (288)
1,707 2,470
376 330
700
-_ -
1,748
4,943
309
�- 00
12,995
3,600
4,_20D
7�$_00
7�800
21-- 7 901.
200
N76
?�
8139
15-L839
4,200
5200
9400
- —9 400
2i$,1OD
(763)
46
700)
1 705)
1,548
(1,132)
1 555
2 844}
(600)
1 6O0
199
18,861 _0_ 18 861
68,974
Page 12
CITY OF MOAB
Grand County, Moab
TOTAL
CASH BALANCE, January 1, 1961 $9, 86
RECEIPTS
Special Assessments
Collected
Interest on Assessments 6,403
1960 Property4►74 2�35
Advance from General
Fund
1.400
Total Receipts
1- 945
TOTAL CASH BALANCES & RECEIPTS 24 831
DISBURSEMENTS
Bonds Redeemed
Interest on Bonds
Total Disbursements
CASH BALANCES, December 31,
1961
8,000
2085
-
10 L085
SPECIAL ASSESSMENT FUNDS
Cash Receipts & Disbursements
YEAR ENDED DECEMBER 31 1961
SPECIAL.
IMPROVEMENT
GUARANTY
CURB & GUTTER
DIST. 1
D I� 2
$ 9,753 $$ 89 $ 44
4►754
4 754
14.507
1,533
800
2 333
--2 422
1►700
510
2 210
212
4,950
1,508
1400
7 �858
--7 902
6,300
1 575
-- 7L875
Page 13
CITY OF MOAB
Grand County, Utah
BOND REDEMPTION & INTEREST FUND
Revenues & Expenditures
YEAR ENDED DECEMBER 31
1960 1961
ACTUAL
OVER
( UNDER)
REVENUES ACTUAL_ ACTUAL BUDGET BUDGET
Property Taxes $ 18,074 $ 22,454 $ 17,700
Transfers from Other $ 4,754
Funds
General Fund 901 4,200
5200 Utility Fund 8,020 17,000 8'000 (1,000}
S_ 9,000
TOTAL REVENUES 26,995 43,654
- _ 30,900 12.754
EXPENDITURES
Bond Agent Fees 90 130 100
Matured Bonds 30
7/1/51 Series 5,000 5,000
2/1/56 Series 5,000 5,000
10/1/56 Series 10,000 5,000
1/1/59 Series (D�_e 1/1/62) 5,000
Matured Interest 5,000 5,000
7/1/51 Series 1,595 1,595 1,595
2/1/56 Series 4,807 4,714 4,714
10/1/56 Series 638 212 212
1/1/S9 Series 8,000 8,000 8,0o0
1/1/59 Series (Due 1/1/62) 4,o00
_ _ 4,000
TOTAL EXPENDITURES
25,130 38,651 29,621 9,030
EXCESS OR (DEFICIENCY) OF
REVENUES OVER EXPENDITURES 1,865 5,003
Unappropriated Surplus
January 1 15,370 17,235
UNAPPROPRIATED SURPLUS
DECEMBER 31 17,235 22,238
1,279 3,724
Page 14
CITY OF MOAB
Grand County, Utah
PUBLIC UTILITY FUND
Income & Expense
1960 1961
of % of
AMOUNT INCOME AMOUNT INCOME
INCOME
Water Sales $ 68,050 `68.11 $ 75,573 6 Sewer Charges 31,525 31.55 35,590 7 S6
31.82
Other 339 .34
701 .62
Total Income 99,914 _ 100.00 11-- 864 100.00
OPERATING EXPENSES
Salaries & Wages 28,271 28.30 30,624
Materials, Supplies & Services 27.38
Subscriptions & Memberships
Ordinances & Publications i67 15
Travel 47 •OS i09 .l0
827 Office Expense & Supplies 612 •.88
.61 89999 .80
Equipment Expense 1,485 1.49 1,958
Building & Ground Expense 3,602 1.
3.6a 4,050 3.62
Special Departmental Supplies 7,666 7.67 11,596 10.37
Equipment Rental 2,196 2.20
Professional & Technical 3'299 2.95
Services 15,270 15.28 6,799 6.08
31,705. 31.73 29,864 '--fg776
Other Charges
Insurance & Surety Bonds 787 , .79 887 .79
Employee Benefit 1,797 1.80 1,660
1.48
Depreciation 15,085 15.10 19,227 17.19
17,669 17.69 21,774 I9.+
Total Operating Expense
NET OPERATING INCOME
NON -OPERATING EXPENSE
Interest on Bonds
NET INCOME
77,645 77.72
22,269 22.28
13,519 13.52
8,750 8.76
82,262 73.54
29,602 26.46
19,2$9 17.24
io,3i3 9.22
Earned Surplus - Beginning of Period 76,25$
82,562
85,008 92,875
Less: Transfer to Reserve for
Bond Retirement
EARNED SURPLUS - END OF PER10D
2,446 858
82,562 92,017
Page 15