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Home My Public Portal About1962-1963 AuditCITY OF MOAB MOAB, OTAN REPORT ON EXAMINATION June 30, 1963 12 Months Ended June 30, 1963 INDEX Accountant's Report Page 1 Combined Balance Sheets, June 30, 1963 Assets 8 Liabilities, Reserves & Surplus 9 General Fund, 12 Months Ended June 30, 1963 Revenues & Expenditures 10 Special Assessment Funds, 12 Months Ended June 30, 1963 Cash Receipts & Disbursements Bond Redemption & Interest Fund 12 Months Ended June 30, 1963 Revenues & Expenditures Public Utility Fund 12 Months Ended June 30, 1963 Income & Expense Bond Construction Accounts Cash Receipts & Disbursements Operations Cash Receipts & Disbursements Bond & Interest Maturities A11 Funds Insurance Coverage & Surety Bonds in Force 14 15 16 17 18 19 21 DrF{I_E MANA5EH HAROLG C. MUELLER E. J. CLAUS CERTIFIED PUBLIC ACCOUNTANT POST r3rr cE"sSLOG. ALPINE 3-51131 MOAB, UTAH Honorable Mayor and City Council City of Moab Moab, Utah Gentlemen: M MCiFR OF AMERICIAN IN gTITUTE Or ACCOUNTANTS 1 have reviewed the supporting data and prepared the Balance Sheets of the Municipal Funds of the City of Moab as of June 30, 1963, and the statements of Revenues and Expenditures, Receipts and Disbursements or Income and Expense for the 12 months ended June 30, 1963. The review of the supporting data was made in accordance 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 Municipal Government. As of June 30, 1963, the City Officials were as follows: Mayor: City Council: Administrative Assis- tant to the Mayor: City Attorney: City Judge: City Recorder: City Treasurer: Norman E. Boyd Richard S. Parsons, L. M. Erbes, S. E. Scharf, Edd E. Provonsha & Robert R. Norman Darrell Reardon Robert H. Ruggeri Donald Crist Darrell Reardon H. W. Balsley SCOPE OF WORK PERFORMED CASH Cash in banks, aggregating $257,384 at June 30, 1963, was verified by reconciling the balances confirmed directly to us by the depositories. NOTES AND The Public Utility Fund accounts receivable for water ACCOUNTS and sewer charges were tested by negative confirmation RECEIVABLE as of June 30, 1963. Tests were also made of the de- tails as shown on the city records. All other receiv- ables were examined in detail and reviewed with responsible City Officials. Page 1 OTHER ASSETS All other assets were reviewed with responsible City Officials and/or checked during the period subsequent to June 30, 1963. LIABILITIES The liabilities were not confirmed by correspondence with the individual creditors, but by test comparison with the vendors' statements, where applicable, subsequent to June 30, 1963. All payments of bond principal and interest coupons were ex- amined in detail and verified by personal contact with the paying agent. Other liabilities were reviewed and tested or reconciled from their in- ception to the date of this report. SUMMARY The examination was directed primarily to a verifica- tion of the Balance Sheets of the various funds as of June 30, 1963, to a general review of the results of operations for the 12 months 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 period, 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 em- ployees, the accounts were found to be in order. It should be under- stood that since the examination, while extensive as to detail, did not comprise a complete check of all cash and other transactions throughout the period, and would not necessarily disclose irregularities, should any exist. COMMENTS GENERAL The following is a comparison of the General Fund FUND Revenues and Expenditures for the fiscal year ended June 30, 1963, with a similar period ended June 30, 1962. The amounts shown for the period ended June 30, 1962 do not show on any reports of the City since the fiscal year ended ,tune 30, 1962 was only for 6 months. REVENUES Property Taxes Sales Taxes Licenses & Permits Fines, Forfeitures & Penalties Revenue from Use of Money & Property Revenue from Other Agencies Charges for Current Services Other Revenue TOTAL REVENUE FISCAL YEAR ENDED JUNE 30 1963 1962 $ 51,027 $ 43,884 94,300 70,601 66,325 74,227 21,512 17,723 118 22 5,257 14,551 32,837 33,187 172 45 $271,548 $254,240 INCREASE (DECREASE) $ 7,143 23,699 (7,902) 3,789 96 (9,294) (350) 127 $17,308 Page 2 EXPENDITURES Administrative Department Municipal Court Police Department Inspection Department Dog Pound Engineering Department Streets & Highways Waste Collection Public Health Parks Department Swimming Pool Miscellaneous TOTAL EXPENDITURES FISCAL YEAR ENDED JUNE 30, 1963 1962 $ 36,251 11,847 54,927 3,899 3,494 8,o5o 88,009 22,892 3,502 6,241 10,524 .4 500 $254,136 $ 42,546 8,576 54,292 3,56o 2,974 87,665 22,693 2,115 7,884 7,o33 7,45o $246,788 INCREASE (DECREASE) $ ( 6, 295) 3,271 635 339 52o 8,05o 344 199 1,387 (1,643) 3,491 (2,95o) 7,348 EXCESS OF REVENUES OVER EXPENDITURES $ 17,412 $ 7,4.52 $$ 9,960 The increase in Sales Tax Revenue is detailed as follows: PERIOD FOR WHICH COLLECTED 2nd Quarter 3rd Quarter 4th Quarter 1st Quarter FISCAL YEAR ENDED JUNE 30, INCREASE 1963 1962 (DECREASE) $ 30,008 $ 16,296 $ 13,712 25,371 19,770 5,6o1 24,038 14,359 9,679 14,883 20,176 (5,293) $ 94.300 $ 70.601 $ 23.699 Also in comparing the two periods Building & Construction Permits de- creased $5,335 and Parking Meter Revenues decreased $2,595 of the net decrease in License & Permit Revenue. The decrease in revenue from other agencies is primarily the Class C Road Fund Allotment of which $8,394 was received during the previous period and nothing received in the current period. As pertains to the expenditures the decrease in the Administrative De- partment is largely reflected in the increase in the Engineering Department, which was treated as a separate department for the first time in the current period. In the Municipal Court $2,575 was an increase in Salaries & Wages and $693 was for acquisition of an adding machine and a typewriter. Page 3 The cash flow in the General Fund is scheduled below: RECEIPTS DISBURSEMENTS °% Of % Of AMOUNT TOTAL AMOUNT TOTAL BALANCE July 1, 1962 $ 76,210 July $ 15,741 5.86 $ 24,167 8.89 67,784 August 19,130 7.12 22,068 8.12 64,846 September 4,654 1.73 20,898 7.69 48,602 October 37,581 13.98 17,134 6.31 69,049 November 16,797 6.25 18,209 6.70 67,637 December 5,338 1.99 18,198 6.70 54,777 January 40,012 14.89 19,627 7.22 75,162 February 16,348 6.08 26,299 9.68 65,211 March 52,852 19.67 19,562 7.20 98,501 April 31,905 11.87 26,534 9.76 103,872 May 13,713 5.10 20,850 7.67 96,735 June 14,669 5.46 38,198 14.06 73,206 TOTAL $268,740 1oo.00 $271,744 loo.00 Not reflected in the above schedule are advances to the Bond Redemption Fund totaling $21,572 to meet bond obligations prior to the receipt by the Bond Fund of the Property Taxes in March. In comparing the actual revenues with the budgeted amounts, if it had not been for the increase receipts from the :1% Sales Tax collected by the state the budgeted revenues would have exceeded the actual revenues by $24,802. The Streets & Highways Department was the only individual department that actual expenditures materially exceeded the budget. The excess expenditures in the Street & Highways Department was in Salaries and Wages where for only one month during the year was the payroll less than 1/12 of the annual budget and in Special Departmental Supplies where one purchase of gravel in June, 1963 for $13,922 caused the excess. This purchase was in anticipation of street work to be performed the following year. The various departments spent the fol- lowing proportions of their budgets: Administrative Department 82.46°% Municipal Court 115.02 Police Department 98.87 Inspection Department 97.60 Dog Pound 96.79 Engineering Department 46.11 Streets & highways 121.80 Waste Collection 88.05 Health Department 93.14 Park Department 88.66 Swimming Pool 115.46 Miscellaneous 90.00 TOTAL 98.48 Page 4 SPECIAL ASSESSMENT FUNDS Delinquent accounts in Special Assessment District #1 have increased from 2 assessments totaling $135.25 at the end of the previous period to 6 assessments total- ing $302.64 as of June 30, 1963. Delinquent accounts in Special Assessment District ,#2 increased from 12 totaling $2,666.51 to 16 totaling $4,493.23. $1,059.68 of this delin- quent amount is in excess of 3 years overdue. Due to these delinquent accounts the total borrowing of this fund to meet current obligations is $2,600.00. BOND REDEMPTION & INTEREST FUND Bond Series 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 Principal, Interest and Bond Agents fee of the 1/1/59 and 1/1/62 General Obligation Bond Series. The proceeds of these having been contributed to the Public Utility Fund for con- struction purposes. At the present time the transfers from the Public Utility Fund are not made until the end of the fiscal year when it can be determined that the Revenue Bond Requirements have been met. However, without an adequate surplus the Bond Redemption and Interest Fund must borrow from the General Fund sufficient amounts to meet its obligations which become due prior to the receipt of the Property Taxes in March. For the year ended June 30, 1963 this borrowing totaled $21,572. This borrowing will have to continue until the Bond Redemption and Interest Fund acquires an Unappropriated Surplus of approximately $30,000 at which time the General Fund may reduce its cash balance. No provisions have been made to provide for the contingency that the Public Utility Fund could not make its transfers. As of August 6, 1963 the following interest coupons had not been turned in for redemption of the January 1, 1962 General Obligation Bonds. Coupon #1 Due July 1, 1962 166 - 185 @ $20.00 461 - 485 @ 20.00 Coupon #2 Due January 1, 1963 162 - 185 20.00 461 - 485 @ 20,00 $400.00 500.00 480.00 500.00 PUBLIC As of June 30, 1963 the Retirement Fund for the UTILITY January 1, 1962 Revenue Bonds had no balance, the in - FUND terest due July 1, 1963 having been paid June 28, 1963. The Reserve Fund has a balance of $6,600, its required amount of 20% of the amount placed into the Retirement Fund - $33,000. Page 5 For the 12 months ending June 30, 1963 and 1962, the water connections and gallons consumed were: CONNECTIONS 1962- 1961- INCREASE 1963 1962 (DECREASE) July 1,027 884 August 1,034 914 September 1,080 936 October 1,036 989 November 1,046 956 December 1,033 956 January 1,042 955 February 1,052 967 March 1,060 987 April 1,048 1,001 May 1,056 998 June 1,067 1,025 Water consumption nection per month period. 143 120 144 47 90 77 87 85 73 47 58 42 GALLONS CONSUMED IN THOUSANDS 1962- 1961- INCREASE 1963 1962 (DECREASE) 38,843 36,225 2,618 40,474 38,068 2,406 39,412 18,651 20,761 21,379 19,546 1,833 20,975 17,845 3,130 11,020 13,396 (2,376) t6,361 20,384 (4,o23) 25,093 15,557 9,536 14,107 20,017 (5,91o) 28,932 24,672 4,260 22,059 30,685 (8,626) 52,759 44,670 8,089 331.414 299.716 31,698 increased from an average of 25,909 gallons per con - for the previous period to 26,342 for the current The income varied as follows: Water Income Per Connection Sewer Income Per Connection Water Income Per 1,000 Gallons Sewer Income Per 1,000 Gallons of Water 1963 1962 YEAR ENDED JUNE 30, INCREASE (DECREASE) 1o5.76 96.79 8.97 59.98 50.34 9.64 0.3346 0.3113 o.0233 0.2098 0.1619 0.0479 Page 6 As of June 30, 1963, the status of the Public Utility Construction Fund is as follows: Cash In Bank Investments Water Project Sewer Project TOTAL $ 87,328 99,278 635,235 99,584 $921,425 Very truly yours, J. Claus Certified Public Accountant Page 7 CITY OF MOAB Grand County, Utah ASSETS CASH ON HAND & IN BANKS NOTES RECEIVABLE rACCOUNTS RECEIVABLE Water r Sewer Special Assessments Due From Other Funds Due From Other Govern- mental Units Other TOTAL ACCOUNTS RECEIVABLE INVESTMENTS AMOUNTS TO BE PROVIDED FOR FUTURE BOND & INTEREST RETIREMENT I TOTAL $ 257,459 FIXED ASSETS Land Buildings & Structures Improvements Other Than Buildings & Structures Machinery & Equipment Automobiles & Trucks Office Furniture & Equipment Work in Process Accumulated Depreciation NET FIXED ASSETS TOTAL ASSETS L- GENERAL FUND $73,231 2,330 22,621 20,488 2,600 21,883 21,883 3,073 70,665 21,883 99,514 236 1,549,185 83,046 350,o43 790,758 93,075 39,748 11,601 734,820 041,245) 1,961,846 $3,940,999 $95,350 SPECIAL IMPROVEMENT GUARANTY FUND $16,882 $ 448 $16,149 20,488 2,600 20,488 2,600 $19,482 SPECIAL ASSESSMENT FUNDS BOND REDEMPTION & INTEREST FUND $20,936 $16,149 i COMBINED BALANCE SHEETS A11 Funds -June 30, 1963 1 ! GENERAL TRUST & PUBLIC BONDED GENERAL AGENCY UTILITY DEBT & FIXED FUND FUND INTEREST { ASSETS $3,674 $ 147,075 2,330 22,621 3,073 3,073 22,621 99,278 $1,549►185 65,227 $ 17,819 336,88o 13,163 704,895 85,863 18,768 74,307 17,548 22,200 7,136 4,465 734,820 041,245) 1,744,029 217,817 $6,747 $2,o15,333 $1,549,185 $217,817 Page 8 CITY OF MOAB Grand County, Utah LIABILITIES, RESERVES & SURPLUS !LIABILITIES ,Accounts Payable Payroll Taxes & With- holdings Payable Due to Other Funds 1Due to Other Govern- mental Units Customers' Deposits ;Bonds Payable '.Bond Interest Payable in Future Years I TOTAL LIABILITIES 'CONTRIBUTIONS Municipal Federal Other 7-- TOTAL CONTRIBUTIONS j RESERVE FOR BOND RETIREMENT �j SURPLUS Surplus Invested in General Fixed Assets Unappropriated Surplus [Earned Surplus TOTAL SURPLUS I - TOTAL LIABILITIES, RESERVES & SURPLUS TOTAL $ 4,437 6,747 2,600 2,008 1,559 1,428,700 648,185 2,094,236 1,002,998 133,509 140,146 1,276,653 6,600 217,817 129,609 216,084 563,510 $3,940,999 t GENERAL FUND $ 2,008 2,008 SPECIAL IMPROVEMENT GUARANTY FUND 93,342 $19,482 93,342 19,482 $95,350 $19,482 I SPECIAL REDEMPTION ASSESSMENT & INTEREST FUNDS { FUND $ 2,600 17,700 20,300 636 636 $20,936 $16,149 16,149 $16,149 COMBINED BALANCE SHEETS All Funds -June 30, 1963 BOND t i GENERAL TRUST & PUBLIC BONDED GENERAL AGENCY UTILITY DEBT & FIXED FUND FUND INTEREST ASSETS J $ 4,437 $6,747 1,559 510,00o $ 901,000 648,185 6,747 515,996 1,549,185 1,002,998 133,509 140,146 1,276,653 6,600 216,084 216,084 $217,817 217,817 $6,747 $2,015,333 $1,549,185 $217,817 j Page 9 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures REVENUES PROPERTY TAXES SALES TAXES LICENSES & PERMITS Gross Business Licenses Other Business Licenses Beer Licenses Building & Construction Permits Parking Meter Revenue lOther Licenses & Permits [TOTAL LICENSES & PERMITS 'FINES, FORFEITURES & PENALTIES Parking Meter Fines Other E 6 12 MONTHS ENDED MONTHS JUNE 30, 1963 ENDED T 1 ACTUAL JUNE OVER • 30, (UNDER) L_ 1962 - I - ACTUAL I_ _ BUDGET i BUDGET i --- -- ---- $ 51,027 $ 50,000 ' $ 1,0271 $ 34,535 94,300 66,000 28,300 TOTAL FINES, FORFEITURES & PENALTIES REVENUE FROM THE USE OF MONEY & PROPERTY REVENUE FROM OTHER AGENCIES Liquor Fund Allotment TOTAL REVENUE FROM OTHER AGENCIES CHARGES FOR CURRENT SERVICES Special Services by City Dept. Refuse Collection Swimming Pool ITOTAL CHARGES FOR CURRENT SERVICES 'OTHER REVENUE Sundry ;TOTAL OTHER REVENUES TOTAL REVENUES.. 23,409 44,735 48,000 (3,265) 2,210 9,274 10,000 (726) 2,005 2,845 2,350 495 4,345 2,962 8,000 (5,038) 3,841 5,255 9,000 (3,745) 1,115 1,254 2,000 (746) 36,925 66,325 79,350 (13,025) 2,433 3,170 5,0oo 8,064 18,342 15,00o 10,497 21,512 20,000 23 118 (1,830) 3,342 1,512 300 5,257 5,257 5,3oo 5,257 5,257 5,3o0 2,076 1,276 3,000 12,926 24,639 28,000 3,869 6,922 6,000 18,871 32,837 37,000 (182) (43) (43) (1,724) (3,360 922 (4,163) 45 172 100 45 172 100 72 72 $106,153 $271,548 $258,050 $13,498 Page 10 CITY OF MOAB GENERAL FUND Grand County, Utah EXPENDITURES GENERAL GOVERNMENT TADMINISTRATIVE !Salaries & Wages .Materials, Supplies & Services Other Charges Capital Outlays TOTAL ADMINISTRATIVE MUNICIPAL COURT 'Salaries & Wages Materials, Supplies & Services Other Charges {Capital outlays [TOTAL MUNICIPAL COURT TOTAL GENERAL GOVERNMENT PUBLIC SAFETY (TOTAL POLICE DEPARTMENT 31,222 54,927 55,555 (628), T - - - - INSPECTION DEPARTMENT Salaries & Wages 1,436 2,402 2,600 (198)' Materials, Supplies & Services 335 579 675 (96) Other Charges 119 357 17o 187 Capital Outlays 561 550 11 ' `TOTAL INSPECTION DEPARTMENT 7 1,890 3,899 3,995 (96) _. - - - - DOG POUND - - - - Salaries & Wages 1,053 2,208 2,500 (292)' 'Materials, Supplies & Services 333 1,068 Soo 268 Other Charges 160 218 310 (92) 6 MONTHS ENDED JUNE 30 1962 Revenues & Expenditures ACTUAL BUDGET 12 MONTHS ENDED JUNE 30, 1963 ACTUAL OVER (UNDER) BUDGET $ 12,419 $ 23,388 $ 24,000 $ (612) 6,892 1o,365 13,9oo (3,535) 1,609 2,082 3,060 (978) 414 416 3,000 (2,584) 21,334 36,251 43,960- - (7,709) 3,549 9,018 8,400 618 52o 1,566 1,050 516 284 570 55o 20 16o 693 3oo 393 4,513 1i,847 lo,300 1,547 25,847 48,098 54,26o (6,162) POLICE DEPARTMENT ;Salaries & Wages 19,954 36,322 40,000 ;Materials, Supplies & I Services 7,225 14,056 9,500 4,556 Other Charges 2,247 2,832 3,055 (223) 1Capital outlays 1,796 1,717 3,000 TOTAL DOG POUND 1,546 3,494 3,610 Page 11 CITY OF MOAB Grand County, Utah r EXPENDITURES, Cont'd r TOTAL PUBLIC SAFETY 6 MONTHS ENDED JUNE 30 1962 $ 34,658 GENERAL FUND Revenues & Expenditures 12 MONTHS ENDED JUNE 30, 1963 ACTUAL OVER (UNDER) ACTUAL BUDGET BUDGET $ 62,32o $ 63,16o $ (84o) PUBLIC WORKS _1 ENGINEERING DEPARTMENT Salaries & Wages 1,400 8,600 (7,200) Materials, Supplies & Services 6,375 7,700 (1,325) Other Charges 275 660 (385) 'Capital Outlays 500 (500)_4 TOTAL ENGINEERING DEPARTMENT 8,050 17,460 (9,410) STREETS & HIGHWAYS DEPT. i Salaries & Wages 11,007 25,356 22,000 3,356 11 Materials, Supplies & Services 15,317 46,789 34,625 12,164 Other Charges 1,830 3,393 2,630 763 1 Capital Outlays 7,333 12,471 13,000-(529)'. TOTAL STREETS & HIGHWAYS 35,487 88,009 72,255 15,754 i WASTE COLLECTION ,Salaries & Wages 234 Materials, Supplies & Services 11,767 22,882 26,000 (3,118), Other Charges 29 10 10 TOTAL WASTE COLLECTION 12,030 22,892 26,000 (3,108) TOTAL PUBLIC WORKS 47,517 118,951 115,715 3,236 PUBLIC HEALTH r. - -- HEALTH DEPARTMENT Salaries & Wages 1,009 2,380 2,400 (20) Materials, Supplies & Services 239 411 650 (239) Other Charges 75 150 160 (10) Capital Outlays 561 550..._-T -- 11 TOTAL HEALTH DEPARTMENT 1,323 3,502 3,760 (25C -I--- - . _.. 3,760 I n rO .TOTAL PUBLIC HEALTH __ Page 12 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, CONT`D PARKS & RECREATION 6 r 12 MONTHS ENDED - MONTHS JUNE 30, 1963 ENDED ACTUAL JUNE 1 OVER 30 (UNDER) 1962 ACTUAL , BUDGET BUDGET PARKS Salaries Wages $ 3,187 $ 4,536 $ 4,400 $ 136 , Materials, Supplies & Services 730 1,367 2,150 (783) Other Charges 264 338 490 (152) Capital Outlays 722 'TOTAL PARKS 4,903 6,241 7,040- (799) L- - SWIMMING POOL Salaries & Wages 397 5,209 4,500 709 Materials, Supplies & Services 773 4,611 3,075 1,536 Other Charges 340 704 540 164 Capital Outlays 1,000 (1,000) r - -- TOTAL SWIMMING POOL 1,510 10,524 9,115 1,409 r .. _ -- TOTAL PARKS & RECREATION 6,413 16,765 16,155 610 ,.- MISCELLANEOUS Contributions 2,300 4,500 5,000 _ ( 500)_1 TOTAL MISCELLANEOUS 2,300 4,500 5,000 (500) 'TOTAL EXPENDITURES 118,058 254,136 258,050 (3,914) - EXCESS OR (DEFICIENCY)OF REVENUES - - ---- OVER EXPENDITURES (11,905) 17,412 UNAPPROPRIATED SURPLUS - JULY 1 87,835 75,930 UNAPPROPRIATED SURPLUS - JUNE 30 75,930 93,342 • Page 13 CITY OF MOAB SPECIAL ASSESSMENT FUNDS Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUNE 30, 1963 ' SPECIAL -- IMPROVE - CURB & GUTTER MENT TOTAL GUARANTY DIST. 1 1 DIST. 2 CASH BALANCE JULY 1, 1962 14,133 13,557 516 60 'RECEIPTS Special Assessments Collected 6,925 1,515 5,410 Interest & Penalties On Assessments 1,632 431 1,201 1962 Property Taxes 3,925 3,925 Advance From Special Improvement i Guaranty Fund 600 600 [-TOTAL RECEIPTS TOTAL CASH BALANCE & RECEIPTS 1 13,082 3,925 1,946 7,211 27,215 17,482 2,462 7,271 DISBURSEMENTS Bonds Redeemed 8,000 1,700 6,300 Interest on Bonds 1,285 340 945 Advance to Special Improvement Dist 2 600 600 1-TOTAL DISBURSEMENTS CASH BALANCE JUNE 30, 1963 9,885 boo 2,040 7,245 17,33o 16,882 422 26 Page 14 CITY OF MOAB BOND REDEMPTION & INTEREST FUND Grand County, Utah Revenues & Expenditures REVENUES 'Property Taxes Transfer from Utility Fund r- TOTAL REVENUES r EXPENDITURES Bond Agent Fees Matured Bonds 7/1/51 Series 2/1/56 Series 1/1/59 Series Matured Interest 7/1/51 Series 2/1/56 Series 1/1/59 Series 1/1/62 Series TOTAL EXPENDITURES r. EXCESS OR (DEFICIENCY) OF REVENUES OVER EXPENDITURES UNAPPROPRIATED SURPLUS BEGINNING OF FISCAL YEAR UNAPPROPRIATED SURPLUS - JUNE 30 6 MONTHS 12 MONTHS ENDED JUNE 30, 1963 ENDED -- -- JUNE 30, -ACTUAL 1962 OVER (UNDER) ACTUAL BUDGET -.i_- BUDGET J 1o,133 10,133 23,551 34,740 58,291 26,000 24,500 50,500 50 110 200 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 1,458 1,320 1,320 2,310 4,432 4,432 3,900 7,700 7,700 6,233 22,000 22,000 (2,449) 10,240 -7,791--, (90) -- 23,951 50,562 50,652 (90) (13,818) 7,729 (152) 7,881 ! 22,238 8,420 8,42o 16,149 Page 15 CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Income & Expense INCOME Water Sales Sewer Service Charges Interest Other Charges TOTAL INCOME EXPENSE f-- SALARIES & WAGES 6 MONTHS ENDED JUNE 30, 1962 AMOUNT 1 % 12 MONTHS ENDED JUNE 30, 1963 AMOUNT_ _ % 53,443 61.36 110,885 6o.89 30,033 34.48 62,885 34.53 3,085 3.54 7,429 4.08 543 .62 905 .5o 87,104 loo.00 182,1o4 l0o.o0 14,344 16.47 32,446 17.82 !MATERIALS, SUPPLIES & SERVICES Subscriptions & Memberships 249 .29 275 ,15 Ordinances & Publications 103 .12 Travel 756 .87 1078 .59 Office Expense & Supplies 340 .39 1,371 .75 Equipment Expense 489 .56 3,o57 1.68 Buildings & Grounds Expense 1,346 1.54 4,298 2,36 Special Departmental Supplies 2,011 2.31 4,211 2.31 Rentals 394 .45 1,325 .73 'Professional & Technical Services 2,946 3.38 12,473 6.85 Other 87 .05 TOTAL MATERIALS, SUPPLIES & SERVICES OTHER CHARGES Insurance & Surety Bonds :Employee Benefits Interest Other Than Bonds Depreciation Bad Debts Interest on Bonds Revenue General Obligations TOTAL OTHER CHARGES 'TOTAL EXPENSE NET INCOME 'TRANSFER (TO) OR FROM RESERVE FOR BOND RETIREMENT NET CREDITS TO EARNED SURPLUS EARNED SURPLUS - BEGINNING OF PERIOD [-EARNED SURPLUS - END OF PERIOD 8,634 9.91 28,175 15.47 566 .65 1,236 .68 1,067 1.22 2,673 1.47 750 .41 7,664 8.8o 23,519 12.91 13 .01 7,493 10,133 26,923 8.61 11.63 30.91 20,842 29,700 78,733 11.44 16°_31 j 43.23 49,9o1 57.29 '39,354 76.52 37,203 42.71 42,75o 23.48 48,63o 85,833 92,017 177,85o (4,516) 38,234 177,850 216,084 Page 16 CITY OF MOAB Grand County, Utah ' [-CASH BALANCE - JULY 1, 1962 RECEIPTS Temporary Investments Interest Income From Temporary Investments TOTAL RECEIPTS TOTAL CASH BALANCE & RECEIPTS -r DISBURSEMENTS __-- Water Project Salaries & Wages Well Drilling Corn Construction Company Grand Mesa Constructors Pacific States Cast Iron Holder Engineering Other Sewer Project Salaries & Wages Grand Mesa Constructors Holder Engineering Other Advance from HHFA TOTAL DISBURSEMENTS PUBLIC UTILITY FUND Cash Receipts & Disbursements Bond Construction Accounts 12 Months Ended June 30, 1963 $ 2,796 4,793 18,682 74,398 162,543 10,583 36,963 4,208 89,813 1,000 4,563 -- $247,833 248,324 7,429 255,753 503,586 310,758 99,584 5,916 416,258 CASH BALANCE - JUNE 30, 1963 87,328 Page 17 CITY OF MOAB Grand County, Utah PUBLIC UTILITY FUND Cash Receipts & Disbursements Operations - 12 Months Ended June 30, 1963 CASH BALANCE - JULY 1, 1962 $ 26,123.40 !RECEIPTS Customers' Deposits -Net Contributions - Other Water E Sewer Service Charges ;Sundry Revenues rTOTAL RECEIPTS TOTAL CASH BALANCES & RECEIPTS DISBURSEMENTS Machinery & Equipment 8,623.03 Office Furniture & Equipment 4,390.87 Water Tanks 1,159.30 Water Lines 5,003.21 Sewer Lines 2,635.50 Meters 6,360.91 Transfer to 1/1/62 Revenue Bond Sinking Fund 4,515.88 Principal 1/1/59 General Obligation Bonds 5,000.00 Water Rights 10,000.00 EXPENSE Salaries & Wages Subscriptions & Memberships Travel Office Expense & Supplies Equipment - Operating Supplies & Maintenance Buildings & Grounds - Operating Supplies & Maintenance Special Departmental Supplies Rent of Property & Equipment Professional & Technical Services Services Not Otherwise Classified Insurance & Surety Bonds Employee Benefits Interest Other Than Bonds Interest On Bonds TOTAL DISBURSEMENTS rCASH BALANCE - JUNE 30, 1963 52.50 14,628.72 172,799.85 905.59 188,386.66i 214,510.06 �32,445.85 274.55 1,035.55 1,375.94 2,934.51 4,099.41 5,065.24 1,31$.75 9,835.94 87.50 1,236.02 2,672.80 750.00 50,542.50 113,674.56 161,363...26 53,146.80 Page 18 CITY OF MOAB A11 Funds Grand County, Utah GENERAL OBLIGATIONS Series 7/1/51 Principal Payment To Be Made Principal Outstanding - End of Year Interest Payments To Be Made Unmatured Interest - End of Year Series 2/1/56 Principal Payment To Be Made Principal Outstanding - End of Year Interest Payments To Be Made Unmatured Interest - End of Year Series 1/1/59 (See Note 2) Principal Payment To Be Made Principal Outstanding - End of Year Interest Payments To Be Made Unmatured interest - End of Year Series 1/1/62 (See Note 2) Principal Payment To Be Made Principal Outstanding - End of Year Interest Payments To Be Made Unmatured Interest - End of Year SPECIAL ASSESSMENT FUNDS BOND & INTEREST MATURITIES FISCAL SCAL YEAR ENDED DUNE 30, 1963 1964 1965 5,000 5,000 5,000 43,000 38,000 33,000 1,320 1,182 1,045 5,610 4,428 3,383 5,000 5,000 5,000 118,000 113,000 113,000 4,432 4,245 4,058 47,175 42,930 38,872 5,000 5,000 5,000 190,000 185,000 180,000 7,700 7,500 7,300 67,400 59,900 52,600 550,000 550,000 550,000 22,000 22,000 22,000 528,000 5o6,0oa 484,000 Series 1/21/56 - District No, 1 700 1,70fl Principal Payment To Be Made 1,700 Principal Outstanding - End of Year 5,100 },,0 700 0 200 11,700 Interest Payment To Be Made Series 3/2/60 - District No. 2 6 300 6300 6300 Principal Payment To Be Made , , Principal Outstanding - End of Year 12,600 6,300 -- Interest Payment To Be Made 630 315 REVENUE BONDS Series 1/1/62 Principal Payments To Be Made Principal Outstanding - End of Year Interest Payments To Be Made _- 8,000 51o,000 51o,000 502,000 20,842 20,843 20,733 Page 19 CITY OF MOAB BOND & INTEREST MATURITIES Grand County, Utah All Funds Note 1 - It is the policy of the City of Moab to transfer to the paying agents, prior to the various maturity dates, sufficient funds to redeem maturing bonds and interest coupons. The principal and interest pay- ments noted above are adjusted to reflect this policy. Hence, payments which would actually be due on July 1, are shown as made during the last month of the previous fiscal year. Note 2 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 and 1/1/62 General Obligation Bond Series. The proceeds of these Bond Series having been contributed to the Public Utility Fund for construction purposes. Page 20 CITY OF MOAB Grand County, Utah Limits Limits Limits Limits Limits Limits Limits Limits Limits American Surety Co, of N, Y. $10,000 Bond No. 34-590-376 American Surety Co. of N. Y. $2,500 Bond No. 34-580-440 Utah Home Fire Insurance Co. $18,500 Policy No. 551066 American Surety Co, of N. Y. $59,130 Policy No. F634-03002 The Home Insurance Co. $16,650 Policy No. 9-213-018 The Hanover Insurance Co. $42,000 Policy 1-90-88 Westchester Fire Insurance Co. B I - $300,000 P D - (Auto) $25,000 P D - (Other) $25,000 Policy No. CAG 1-87-04 Glen Falls Insurance Co. $16,000 Policy No. I. M. 6-00-69 State insurance Fund By Law Premium Rate Premium Rate 00724 00826 INSURANCE COVERAGE & SURETY BOND IN FORCE .tune 30, 1963 Treasurers Bond Premium $100.00 4/1/63 to 4/1/64 Employees Blanket Bond Premium $375.00 - 3 yrs. 4/9/61 to 4/9/64 Fire Extended Coverage Premium $58.65 2/27/63 to 2/27/64 Fire & Extended Coverage Premium $187.45 2/27/63 to 2/27/64 Fire & Extended Coverage Premium $52.78 2/27/63 to 2/27/64 Fire & Extended Coverage Premium $133.14 2/27/63 to 2/27/64 Comprehensive Liability Premium $2,636.59 1/2/63 to 1/2/64 Contractors Equipment Premium $470.96 2/14/63 to 2/14/66 Workmens Compensation Road Maintenance Municipal Employees Page 21