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Home My Public Portal About1966-1967 AuditCITY 0. F MOAB MOAB, UTAH REPORT ON EXAMINATION ,tune 30, 1967 & 12 Months Ended June 30, 1967 INDEX Accountant's Report Page 1 Combined Balance Sheets, June 30, 1967 Assets 8 Liabilities, Reserves & Surplus 9 General Fund, 12 Months Ended ,tune 30, 1967 Revenues & Expenditures 10 Expenditures - Summary 14 Special Assessment Funds, 12 Months Ended June 30, 1967 Cash Receipts & Disbursements Bond Redemption & Interest Fund 12 Months Ended June 30, 1967 Revenues & Expenditures 15 16 Public lit i l i ty Fund 12 Months Ended June 30, 1967 Income & Expense 17 Bond Construction Accounts Cash Receipts & Disbursements l$ Operations Cash Receipts & Disbursements 19 Bond & Interest Maturities All Funds 20 Insurance Coverage & Surety Bonds In Force 22 E. J. CLAUS CERTIFIED PUBLIC ACCOUNTANT POST OFFICE BLDG, PHONE 253-5131 MOAB. UTAH 84532 Honorable Mayor and City Council City of Moab Moab, Utah Gentlemen: I have reviewed the supporting data and prepared the Balance Sheets of the Municipal Funds of the City of Moab as of June 30, 1967, and the Statements of Revenues and Expenditures, Receipts and Disbursements or Income and Expense For the 12 months ended June 30, 1967. The review of the supporting data included such tests of the accounting records and ether 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, 1967, the City Officials were as follows: Mayor: City Council: City Attorney: City Judge: City Recorder: City Treasurer: Winford Bunce John Mullen, Robert Curfman, William D. McDougald, John W. West, & Thomas A. Stocks Robert H. Ruggeri Donald Grist Leland L. Stocks H. W. Balsley SCOPE OF WORK PERFORMED CASH Cash in banks, aggregating $201,711 at June 30, 1967, 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, 1967, Tests were also Made of the de- tails as shown on the city records. All other receiv- ables were examined in detail or 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, 1967. 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, 1967. 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, 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, 1967, 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 docu- ments and entries were scrutinized by us in connection therewith. To the extent that such documents and entries were examined, and based on infor- mation and explanations obtained from City Officials and employees, the accounts were found to be in order. it should be understood that the ex- amination, 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 years ending June 30, 1967 and 1966. As noted in the comments that tollow the comparisons, both years contain nonreoccuring transactions. 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 REVENUES FISCAL YEAR ENDED JUNE 30 INCREASE 1967 1966 (DECREASE) $ 61,537 $ 54,556 $ 6,981 53,686 39,407 14,279 47,598 41,731 5,867 8,334 5,807 2,527 22 5,257 44,420 1,456 $222.310 16,242 41,226 335 22 (10,985) 3,194 1, 121 $199,304 $ 23,006 Page 2 PROPERTY TAXES - The General Fund mill levy was increased from 13 mills to 14 mills for the current year. The total mill levy for the City was unchanged as the 1 mill represented what had previously been levied for the Special Improvement Guaranty Fund. During the current year the City received $4,396 per mill as compared to $4,197 for the previous year. This is an increase of $199 per mill levied. SALES TAXES - Detail of the taxes collected by the State of Utah is as follows: PERIOD FOR WHICH COLLECTED Prior Calendar Year 2nd Quarter 3rd Quarter 4th Quarter Current Calendar Year 1st Quarter TOTAL FISCAL YEAR ENDED JUNE 10, INCREASE 1967 1966 (DECREASE) $12,011 $11,712 $ 299 14,789 3,135 11,654 13,033 13,216 (t83) 13,853 11,344 2,509 $53,686 $39.4°7 $ 14.279 The revenue for the 3rd Quarter of Fiscal Year 1966 was reduced $6,858, which according to the cumputations of the State of Utah, had been erron- eously allocated to the City of Moab in previous years. Had the State of Utah not made this adjustment the Receipts For Fiscal Year 1967 would have increased $7,421 or 16.04`/. LICENSES & PERMITS - Gross Business Licenses increased 52,029 or 5.82%. Flat Business Licenses increased $2,889 or 91.88%. The increase in Flat Business Licenses is the results of the billings for these licenses being sent out late during the previous year, resulting in the majority of col- lections being received during the first part of the current year which resulted in understating Fiscal Year 1966 and overstating Fiscal Year 1967. Beer Licenses increased $260 or 12.24/„ Building & Construction Permits increased $369 or 37.50/, and Other Licenses & Permits such as Dog Licenses and Bicycle Licenses increased $320 or 55.277_ FINES, FORFEITURES & PENALTIES - The increase of 43.52c,_ is due, in a large part, to the local Justice of Peace office being done away with resulting in greater use of the City Court. REVENUE FROM OTHER AGENCIES - The decrease in the Fiscal Year 1967 from 1966 is all due to the fact that no Class "C" Road Funds were received in the current year. Page 3 CHARGES FOR CURRENT SERVICES - The increase is as follows: FISCAL YEAR iNCREASE 1967 REVENUE (DECREASE) CHANGE Special Services by City Departments $ 2,750 $ 2,750 Refuse Collection Charges 34,665 702 2.07% Swimming Pool 7,005 (258) -3.55% TOTAL $ 44,420 $_ 3.194 7.75% The increase in Fiscal Year 1967 for Special Services by City Departments is the result that such services as the City performed for Grand County in Fiscal Year 1966 were not received by the City until the current year. OTHER REVENUE - The sale of property by the City in the current year re- presented the increase of $1,121. EXPENDITURES Administrative Department Municipal Court Police Department Inspection Department Dog Pound Street s Highways Waste Collection Health Department Park Department Swimming Pool Contributions FISCAL YEAR ENDED JUNE 30 INCREASE 1267 1966 (DECREASE) $ 26,962 $ 35,909 $ (8,947) 13,890 i4,216 (326) 34,352 40,509 (6,157) 3,249 3,l00 149 2,890 2,946 (56) 68,765 66,611 2,154 33,324 32,112 1,212 3,012 3,124 0 1 2) 6,780 6,149 631 7,442 12,208 (4,766) 5,972 4,070 1,902 TOTAL EXPENDITURES 8206,638 $220.954 $(14.316) ADMINISTRATIVE DEPARTMENT - The prior year included certain nonreoccuring expenses: $2,667 the City's portion of special planning costs in Grand County, and $3,206 Bad Debts for work performed or paid for by the City. There was a general decrease in operating the Department in the current year. Salary and Wages decreased $1,029, and other items of note were election expenses incurred in the prior year as well as the costs of re- vising the City's ordinances. MUNICIPAL COURT - The principal source of decrease was a reduction of rent the City is paying to Grand County for the Judge's chambers. POLICE DEPARTMENT - The decrease of 15.16% or $6,157 was mainly represented by 11.06% or $4,482 for Salaries and Wages and 3.54% or $1,432 for equipment purchases. Page 4 STREETS & HIGHWAYS - As a result of an agreement with the State of Utah $5,000 was put into escrow for the construction of a bridge across 5th West Street. Otherwise, expenditures would have decreased $2,846. WASTE COLLECTION - Expenditures for this Department are a percent of the Revenue received. Expenditures were 94.55% in the previous year and 96.13% in the current year. PARK DEPARTMENT - Principal source of the increase is in Salaries and Wages. SWIMMING POOL - Extensive repairs of $3,147 were made in the prior fiscal year. Net loss for fiscal year 1967 was $437 and before the above repairs $1,799 in fiscal year 1966. CONTRIBUTIONS - The increase represents a payment of $2,000 to the Moab Irrigation District pursuant to a prior agreement. $1,000 was reimbursed by Grand County and is included in the Revenue Account - Special Services by City Departments. SPECIAL $3,571 of the Special Assessment Accounts Receivable re - ASSESSMENT present delinquent accounts on Districts 1 & 2. The bal- FUNDS ance of the Receivables of $6,618 represent other curb & gutter work performed by the City. The City's files are not complete as to who is to reimburse the City for the work in process. BOND When all Revenue Bond Requirements have been met, it is REDEMPTION the Policy of the City to transfer from the Public Utility & INTEREST Fund sufficient funds to pay Principal, Interest and Bond FUND Agents fees of the 1/1/59 and 1/1/62 General Obligation Bond Series. The proceeds of these Bond Series were pre- viously contributed to the Public Utility Fund for construction 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. To date the following interest coupons have not been turned in for redemp- tion of the January 1, 1962 General Obligation Bonds. Since First Due Date, 7/1/62: Bond Series 166 to 185 inclusive Bond Series 461 to 485 inclusive Since Second Due Date, 1/1/63: Bond Series 162 to 165 inclusive Page 5 PUBLIC UTILITY FUND yuired amount of As of June 30, 1967, the Retirement Fund for the January 1, 1962 Revenue Bonds had no balance, the interest due July 1, 1967 having been advanced to the collection agent in June, 1967. The Reserve Fund has a balance of $28,073. Its re- 20% of the amount placed into the Retirement Fund is $27,726. As of June 30, 1967 and 1966, the water and sewer accounts receivable ageing is as follows: 0 - 30 Days 30 - 60 Days 60 - 90 Days Over 90 Days June 30, 1967 $14,203 70.44% 2,815 13.96% 659 3.27°% 2,485 12.33% $20.162 100.00% June 30, 1966 $17,557 79.38% 2,393 10.82°% 452 2.04% 1,717 7.76% $22.119 100.00X For the 12 months ending June 30, 1967 & 1966, the water connections and gallons consumed were as follows: CONNECTIONS 1966- 1965- 1967 1966 July 1,085 1,074 August 1,088 1,078 September 1,085 1,075 October 1,085 1,071 November 1,084 1,056 December 1,077 1,053 January 1,076 1,063 February 1,056 1,064 March 1,075 1,070 April 1,092 1,083 May 1,092 1,078 June 1,094 1,081 Water consumption per month for the The income varied Water Sewer Water Sewer Of Income Income Income Income Water INCREASE (DECREASE) 11 10 10 14 28 24 13 (08) 05 09 14 13 GALLONS CONSUMED IN THOUSANDS 1966- 1965- INCREASE 1967 1966 (DECREASE) 50,803 44,477 6,326 54,893 34,841 20,052 36,893 41,474 (4,5$1) 26,175 24,197 1,978 21,48o 15,14o 6,34o 11,716 12,791 (1,075) 11,671 12,089 (418) 17,326 14,018 3,308 14,486 11,448 3,o38 28,806 25,787 3,o19 32,796 32,761 35 32,943 48, 636 (15,693) 339,988 317,6.59 22.329 increased from an average of 24,728 gallons per connection previous period, to 26,175 gallons for the current period. as follows: Per Connection Per Connection Per 1,000 Gallons Per 1,000 Gallons YEAR ENDED June 30, 1967 $103.24 51.00 0.3286 0.1624 INCREASE 1966 (DECREASE) $98.67 $ 4.57 51.86 (.80) 0.3325 (0.0039) 0.1748 (0.0124) Page 6 As of June 30, 1967, the status of the Public Utility Construction Fund is as follows: Cash in Bank & Investments S 78,425 Water Project 653,076 Sewer Project 202,806 TOTAL 5934,307 GENERAL when the Council Minute Book was examined on September 28, 1967, the minutes for the meeting of May 16, 1967 were missing. It is our understanding that they have subsequently been included in the Minute Book. Very truly yours, E. J. Claus Certified Public Accountant Page 7 CITY OF MOAB Grand County, Utah ASSETS CASH ON HAND & IN BANKS NOTES RECEIVABLE. ACCOUNTS RECEIVABLE Water & Sewer Special Assessments Due From.Other Funds Other TOTAL ACCOUNTS RECEIVABLE INVESTMENTS AMOUNTS TO BE PROVIDED FOR FUTURE BOND & INTEREST RETIREMENT FIXED ASSETS Land Buildings z. Structures Improvements Other Than Buildings & Structures Machinery & Equipment Automobiles & Trucks Office Furniture & Equipment Work -In Progress Accumulated Depreciation NET FIXED ASSETS TOTAL ASSETS SPECIAL BOND I F-iFF,i?VL -- SPECIAL REDEmP- ' TRUSTPUBLIC p� ENT ASSESS- TION GENERAL GUARANTY' MENT INTEREST AGENCY UTILITY TOTAL. FUND FUND FUND FUND FUND , _ FUND ��--- $ 201 7.1 1 �1�623 $ 10�714 $ 876 $ 33,111_ $ys! $ 134,336 � 2,330 �330 20,162 10,189 21,603 2,025 53,979 _ 104._7 _ 236 348 7-25 84,354 350,527 816,464 104,091 31 ,023 30,818 883,090 (243,099) 10,189 21,603 2! 03 1-- 189 2 025 21025 COMBINED BALANCE SHEETS All Funds -June 30, 1967 20,162 20,162 104,4-'7 65,477 336,879 730;802 22,442 7,432 18,062 27,208 855,882 (243,099) _______ 27,208 1,793,877 GENERAL BONDED DEBT & INTEREST $1,348,725 GENERAL FIXED ASSETS $ 18,877 13,648 85,662 81,649 23,591 12,756 236,183 -.-.�- 68 6 3_ 2.37 ULM. $ 33,111 ,0; 2 0 182 $1.348,725 1Z1LIal Page 8 CITY OF MOAB Grand County, Utah COMBINED BALANCE SHEETS Ail Funds -June 30, 1967 SPECIAL BOND IMPROVE- SPECIAL REDEMP- GENERAL MENT ASSESS- TION E TRUST & PUBLIC BONDED GENERAL GENERAL GUARANTY MENT INTEREST AGENCY UTILITY DEBT & FIXED LIABILITIES, RESERVES & SURPLUS TOTAL FUND FUND FUND _ FUND FUND � FUND INTEREST ASSETS LIABILITIES Accounts Payable Payroll Taxes & With- holdings Payable Due to Other Funds Due to Other Govern- mental Units Customers' Deposits Bonds Payable Bond interest Payable in Future Years TOTAL LIABILITIES S 2,031 6,076 21,603 $21,603 14,307 $ 307 14,000 5,528 1,321,000 512,725 1,883,270 307 35,603 $ 6,o76 S 2,031 5,528 4$5,000 $ 836,000 512,725 6,076 492,559 1,348,725 CONTRIBUTIONS Municipal 972,998 972,998 ,5 Federal 133,509 133,509 Other 152,32$ 52328 1,258,835 TOTAL CONTRIBUTIONS 1,258,835 RESERVE FOR BOND RETIREMENT 28,073 28,073 SURPLUS Surplus Invested in 5236,1$3 General Fixed Assets 236,183 Unappropriated Surplus 86,650 18,552 $ 32,317 2,670 $ 33,111 275,715 Earned Surplus 275,715 236,183 TOTAL SURPLUS 598,548 18,552 32,317 2 670 33,111 275,715 TOTAL LIABILITIES, RESERVES & SURPLUS $3,768,726 $18.859 $ 32,317 $38.273 $ 33}111 $ 6.076 $2.055.182 $1.348.725 $236.183 Page CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures 12 12 MONTHS ENDED JUNE 30, 1967 MONTHS ACTUAL ENDED OVER JUNE 30, (UNDER) REVENUES 1966 ACTUAL BUDGET BUDGET PROPERTY TAXES $ 54,556 $ 61,537 $ 55,000 $ 6,537 SALES TAXES 39,407 53,686 48,000 5,686 LICENSES & PERMITS Gross Business Licenses 34,898 36,927 38,000 0,073) Other Business Licenses 3,145 6,034 5,200 834 Beer Licenses 2,125 2,385 2,250 135 Building & Construction Permits 984 1,353 1,000 353 Other Licenses & Permits 579 899 400 499 TOTAL LICENSES & PERMITS 41,731 47,598 46,85o 748 FINES, FORFEITURES & PENALTIES REVENUE FROM THE USE OF MONEY & PROPERTY REVENUE FROM OTHER AGENCIES Class "C" Road Fund Allotment Liquor Fund Allotment TOTAL REVENUE FROM OTHER AGENCIES CHARGES FOR CURRENT SERVICES' Special Services by City Dept. Refuse Collections Swimming Pool TOTAL CHARGES FOR CURRENT SERVICES 5,807 8,334 8,000 334 22 100 (78) 10,985 10,900 (10,900) 5,257 5,257 5,25o 07 16,242 5,257 16,15o (10,893) 33,963 7,263 41,226 2,750 34,665 7,005 44,420 3,Ooo 37,800 6,0oo 46,800 (250) (3,135) 1,005 (2,3$0) OTHER REVENUES Sale of Real or Personal Property 254 1,303 500 803 Sundry 81 153 300 (147) TOTAL OTHER REVENUES 335 1,456 80o 656 TOTAL REVENUES $199,304 $222,310 $221,700 8 610 Page 10 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES GENERAL GOVERNMENT 12 12 MONTHS ENDED JUNE 30, 1967 MONTHS ACTUAL ENDED OVER .TUNE 30, (UNDER) 1966 ACTUAL BUDGET BUDGET ADMINISTRATIVE Salaries & Wages $ 16,979 $ 15,950 $ 14,500 S 1,450 Materials, Supplies & Services 16,996 8,610 13,300 (4,690) Other Charges 1,754 2,307 1,600 707 Capital Outlays 180 95 95 TOTAL ADMINISTRATIVE 35,909 26,962 29,400 (2,08) MUNICIPAL COURT Salaries & Wages Materials, Supplies E Services Other Charges TOTAL MUNICIPAL COURT TOTAL GENERAL GOVERNMENT PUBLIC SAFETY POLICE DEPARTMENT Salaries & Wages Materials, Supplies & Services Other Charges Capital Outlays TOTAL POLICE DEPARTMENT 10,302 10,116 10,400 (284) 3,179 2,989 3,765 (776) 735 785 750 35 14,216 13,890 14,915 (1,025) 50,125 40,852 441315 (3,463) 27,436 8,930 2,711 1 t 43 2 22,955 23,000 9,095 13,050 2,302 2,450 45) (3,955) (148) 40,509 34,352 38,500 (4,148) INSPECTION DEPARTMENT Salaries & Wages 2,532 2,563 2,575 (12) Materials, Supplies & Services 441 449 485 (36) Other Charges 127 237 225 12 TOTAL INSPECTION DEPARTMENT 3,100 3,249 3,285 (36) Page 11 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd 12 12 MONTHS ENDED JUNE 30, 1967 MONTHS ACTUAL ENDED OVER .TUNE 30, (UNDER) 1966 ACTUAL BUDGET BUDGET DOG POUND Salaries & Wages $ 930 S 900 $ 900 Materials, Supplies & Services 1,$92 1,865 1,760 $ 105 Other Charges 124 125 130 (05) TOTAL DOG POUND 2,946 2,890 2,790 140 TOTAL PUBLIC SAFETY 46,555 4o 4 1 44575 (4,084) PUBLIC WORKS STREETS & HIGHWAY DEPT. (In- cluding Class "C" Road Fund) Salaries & Wages 22,870 22,101 18,000 4,101 Materials, Supplies & Services 34,228 35,500 48,622 (13,122) Other Charges 3,453 2,754 3,100 (346) Capital Outlays060 8,410 7,870 540 TOTAL STREETS & HIGHWAYS 66 z611 68,765 77,592 (8,8�7) WASTE COLLECTION Materials, Supplies & Services TOTAL WASTE COLLECTION TOTAL PUBLIC WORKS PUBLIC HEALTH HEALTH DEPARTMENT Salaries & Wages Materials, Supplies & Services Other Charges TOTAL HEALTH DEPARTMENT TOTAL PUBLIC HEALTH 32,112 32,112 33,324 33,324 36,000 36�000 (2.676) (2,676) 98,723 _102,089 113,592 (11,503) 2,532 2,563 2,575 (12) 412 213 485 (272) 180 236 225 11 3 , 124 3 , 01 2 3 z285 (273) 3,124 3,012 3,285 (273) Page 12 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd PARKS & RECREATION 12 12 MONTHS ENDED JUNE 30, 1967 MONTHS ACTUAL ENDED OVER JUNE 30, (UNDER) 1966 ACTUAL BUDGET BUDGET PARKS Salaries & Wages $ 4,662 $ 5,239 $ 4,660 $ 579 Materials, Supplies & Services 1,123 1,104 1,300 (196) Other Charges 364 437 366 71 TOTAL PARKS 6,149 6,780 _ 6,326 454 SWIMMING POOL Salaries & Wages 5,182 4,599 4,200 399 Materials, Supplies & Services 6,336 2,197 3,075 (878) Other Charges 690 646 650 (o4) TOTAL SWIMMING POOL 12,208 �7,442 7,925 (483) TOTAL PARKS & RECREATION 18,357 14,222 14,251 (29) MISCELLANEOUS Contributions 4,070 5,972 6,250 (278) TOTAL MISCELLANEOUS 4,070 5,972 6,250 (278) TOTAL EXPENDITURES 220,954 206,638 226,268 (19,630) EXCESS OR (DEFICIENCY) OF REVENUE OVER EXPENDITURES (21,650) 15,672 $ (4.568) $ 2.0,240 UNAPPROPRIATED SURPLUS - JULY 1 24,530 2L880 UNAPPROPRIATED SURPLUS - JUNE 30 $ 2,880 $ 18,552 Page 13 CITY OF MOAB GENERAL FUND Grand County, Utah Expenditures - Summary 12 MONTHS 1967 ENDED JUNE 30, INCREASE (DECREASE) 1966 1967 AMOUNT /, Salaries & Wages $ 93,425 $ 86,986 $ (6,439) (6.89%0 Materials, Supplies u Services 105,649 95,346 (10,303) (9.75V Other- Charges 14,208 15,801 1,593 11.21% Capital Outlays 7�672 8,505 833 10.86% TOTAL GENERAL FUND EXPENDITURES $220,954 $206,638 $(14,316) (6,48%) Page 14 CITY OF MOAB SPECIAL ASSESSMENT FUND Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUNE 30, 1967 SPECIAL IMPROVE- MENT GUAR- CURB 8 GUTTER PROPOSED TOTAL ANTY DIST. 1 DIST. 2 DIST. 3 DIST, 4 CASH BALANCE-JULY 1, 1966 $27,989 $26,552 $ 454 $ 877 $ 106 RECEIPTS Special Assessments Collected 3,869 125 42 $ 3,702 Interest & Penalties On Assessments 131 23 108 Property Taxes 136 136 Advances From Other Funds Made or Repaid (15,973) (1,027) 17,000 TOTAL.. RECEIPTS 4,136 (15,837) 148 (877) 20,702 TOTAL CASH BALANCE F RECEIPTS 32,125 _10,715 602 106 20,702 DISBURSEMENTS Construction 20,534 20,534 Property Tax Collection Expense 1 1 TOTAL DISBURSEMENTS 20�535 1 20,534 CASH BALANCE - JUNE 30, 1967 $11.590 $10,714 $ 602 $ - lo6 $ 168 Page 15 CITY OF MOAB BOND REDEMPTION & INTEREST FUND Grand County, Utah Revenues & Expenditures REVENUES Property Taxes Transfer From Utility Fund TOTAL REVENUES 12 12 MONTHS ENDED JUNE 30, 1967 MONTHS ACTUAL ENDED OVER JUNE 30, (UNDER) 1966 ACTUAL BUDGET BUDGET $16,785 517,619 $16,787 $ 832 34,16o 38,850 38x800 50 _50,945 56,469 55,587 882 EXPENDITURES Bond Agent Fees 120 110 110 Collection of Taxes 236 240 240 Natured Bands 7/1/51 Series 5,000 5,000 5,000 2/1/56 Series 5,000 5,000 5,000 1/1/59 Series 5,000 10,000 10,000 Matured Interest 7/1/51 Series 908 770 770 2/1/56 Series 3,870 3,682 3,682 1/1/59 Series 7,100 6,800 6,800 1/1/62 Series 22,000 22,000 22,000 TOTAL EXPENDITURES _49,234 53 6d2 _53,252 350 EXCESS OR (DEFICIENCY) OF REVENUES OVER EXPENDITURES UNAPPROPRIATED SURPLUS - BEGINNING OF FISCAL YEAR 1,71i 2,867 2,335 532 28,533 30,244 3o,142 102 UNAPPROPRIATED SURPLUS - END OF FISCAL YEAR $30,244 $33,111 $32,477 $ 634 Page 16 CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Income & Expense INCOME Water Sales Sewer Service Charge Interest Other Charges TOTAL INCOME EXPENSE SALARIES & WAGES 12 MONTHS ENDED JUNE 30, 1966 JUNE 30, 1967 AMOUNT % AMOUNT $105,625 62.66 $111,733 64.33 55,517 32.94 55,204 31.78 6,990 4.15 5,627 3.24 417 .25 1 L128 .65 168,549 100.00 173,692 100.00 42�727 25.35 36,653 21.10 MATERIALS, SUPPLIES & SERVICES Subscriptions & Memberships 257 .15 131 .08 Ordinances & Publications 763 .45 43 .02 Travel 337 .20 530 .31 Office Expense & Supplies 2,088 1.24 1,446 .83 Equipment Expense 2,615 1.55 2,977 1.71 Building & Ground Expense 7,689 4.56 7,103 4.09 Special Departmental Supplies 4,403 2.62 6,672 3.84 Rentals 372 .22 300 .17 Professional & Technical Services 3,584 2.13 T3 086 1.78 TOTAL MATERIALS, SUPPLIES & SERVICES OTHER CHARGES Insurance & Surety Bonds Employees Benefits Depreciation 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 22,108 13.12 22,288 12.83 2,108 1.25 1,149 .66 3,043 1.81 2,844 1.64 30,005 17.80 30,349 17.47 20,513 12.17 20,279 11.68 29,100 17.26 28,800 16.58 84,769 50.29 83 L421 48.03 _149,604 88.76 142,362 81.96 18,945 11.24 31,330 18.04 (5,703) (5,856) 13,242 25,474 236,999 250,241 $250,241 $275.715 Page 17 CITY OF MOAB Grand County, Utah CASH BALANCE - JULY 1, 1966 RECEIPTS Temporary Investments - Net Interest Income From Temporary Investments TOTAL RECEIPTS TOTAL CASH BALANCE & RECEIPTS DISBURSEMENTS Sewer Project Nielsen & Maxwell - Engineering Infilco Fuller - Sewer Equipment Other TOTAL DISBURSEMENTS Payment PUBLIC UTILITY FUND Cash Receipts & Disbursements Bond Construction Accounts 12 Months Ended June 30, 1967 $ 78 50,000 1 , 875 51>875 51,953 2,496 16,000 752 19,248 CASH BALANCE - JUNE 30,1967 S32,705 Page 18 CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Cash Receipts & Disbursements 12 M0 NTH S ENDED JUNE 30, 1966 1967 CASH BALANCE - JULY 1 (BEGINNING OF YEAR) $ 38,041 $ 42,224 RECEIPTS Customers Deposits - Net Contributions - Other Water & Sewer Service Charges Interest Sundry Revenues TOTAL RECEIPTS TOTAL CASH BALANCES & RECEIPTS 1,048 2,453 2,424 2,057 i57,859 169,758 1,980 1,925 417 1,128 163,728 177,321 201,769 219,545 DISBURSEMENTS Temporary Investments - Net 20,802 Land 250 !Machinery & Equipment 132 461 Autos & Trucks 1,541 Office Furniture & Equipment 200 95 Water Lines 778 3,162 Sewer Lines 41 1,247 Meters 1,603 Principal 1/1/62 Revenue Bond Series 8,000 9,000 Transfer to 1/1/62 Revenue Bond Sinking Fund 5,702 6,656 Principal 1/1/59 General Obligation Bonds 5,000 10,000 40,655 34,015 EXPENSE Salaries & Wages 42,727 36,653 Subscriptions & Memberships 257 131 Ordinances & Publications 763 35 Travel 337 530 Office Expense & Supplies 2,092 1,455 Equipment - Operating Supplies & Maintenance 2,657 2,547 Building & Grounds - Operating Supplies & Maintenance 7,456 7,189 Special Departmental Supplies 4,074 7,618 Rentals 347 300 Professional & Technical Services 3,417 3,242 Insurance & Surety Bonds 2,108 1,149 Employee Benefits 3,043 2,844 Interest On Bonds - Revenue 20,512 20,279 Interest On Bonds - General Obligation 29,100 28,800 118,890 112 772 TOTAL. DISBURSEMENTS 159 545 146,787 CASH BALANCE - JUNE 30 (END OF YEAR) $ 42,224 $ J2,718 Pagtf 19 CITY OF MOAB BOND & INTEREST MATURITIES Grand County, Utah All Funds GENERAL OBLIGATIONS FISCAL YEAR ENDED JUNE 30 1967 1968 1969 Series 7/1/51 Principal Payment To Be Made 5,000 5,000 5,000 Principal Outstanding - End Of Year 23,000 18,000 13,000 Interest Payments To Be Made 770 632 495 Unmatured Interest - End Of Year 1,705 1,073 578 Series 2/1/56 Principal Payment To Be Made Principal Outstanding - End Of Year Interest Payments To Be Made Un.natured Interest -- End Of Year Series 1/1/59 (See Note) Principal Payment To Be Made Principal Outstanding - End Of Year Interest Payment To Be Made Unmatured Interest - End Of Year Series 1/1/62 (See Note) Principal Payment To Be Made Principal Outstanding - End Of Year Interest Payment To Be Made Unmatured Interest - End of Year REVENUE BONDS Series 1/1/62 Principal Payment To Be Made Principal Outstanding - End Of Year Interest Payments To Be Made 5,000 5,0o0 5,Ooo 98,000 93,000 88,000 3,682 3,495 3,3o8 31,32o 27,825 24,514 10,o00 10,0o0 1o,o00 165,000 155,000 145,000 6,800 6,400 6,000 38,7oo 32,3oo 26,3oo 550,000 550,000 550,000 22,000 22,000 22,000 44o,000 418,000 396,000 9,000 9,000 lo,000 485,000 476,000 466,000 20,279 20,031 19,77o Page 20 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 21 CITY OF MOAB Grand County, Utah Western Surety Co. Limits 510,000 Bond No. 204-.07-43 Western Surety Co. Limits $2,500 Bond No. 204-07-42 Western Surety Co. Limits $2,500 Band No. 204-07-41 Premier Insurance Limits $141,000 Policy No. F53355307 State Automobile & Casualty Underwriters Limits - B I (Auto) $300,000 B I (Other) $300,000 P D (Auto) $ 50,000 P D (Other) $ 50,000 Policy No. GA 28-120082 Glen Falls Insurance Co. Limits $11,600 Policy No. 1, M. 11-45-71 State Insurance Fund Limits -By Law Premium Rate .0086 Premium Rate .0083 INSURANCE COVERAGE & SURETY BOND IN FORCE June 30, 1967 Treasurers Bond Premium $204.00 4/9/67 to 4/9/70 Deputy Treasurers Bond Premium $25.50 4/9/67 to 4/9/70 Employees Blanket Bond Premium S348.18 4/9/67 to 4/9/70 Fire & Extended Coverage Annual Premium $494.50 3/25/67 to 3/25/68 Comprehensive Liability & Physical Damage Adv. Premium $2,759.00 1/2/67 to 1/2/68 Contractors Equipment Premium 5235.00 2/14/66 to 2/14/69 Workmens Compensation Road Maintenance Municipal Employees Page 22