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Home My Public Portal About1967-1968 AuditCITY OF MOAB MOAB, UTAH REPORT ON EXAMINATION June 30, 1968 12 Months Ended ,tune 30, 1968 INDEX Accountant's Report 1 Combined Balance Sheets, June 30, 1968 Assets 7 Liabilities, Reserves & Surplus 9 General Fund, 12 Months Ended June 30, 1968 Revenues & Expenditures 11 Expenditures -- Summary 15 Special Assessment Funds, 12 Months Ended June 30, 1968 Cash Receipts & Disbursements 16 Bond Redemption & Interest Fund 12 Months Ended .tune 30, 1968 Revenues & Expenditures 17 Public Utility Fund 12 Months Ended June 30, 1968 Income & Expense 18 Bond Construction Accounts Cash Receipts & Disbursements 19 Operations Cash Receipts & Disbursements 20 Bond & Interest Maturities All Funds, 21 Insurance Coverage & Surety Bonds in Force 23 E. J. CLAUS CERWIEb PUBLIC ACCOUNTANT POST OFFICE BLDG. PHONE 253.5181 MOAB, UTAH 84532 November 20, 1968 Honorable Mayor and City Council City of Moab Moab, Utah Gentlemen: We have reviewed the supporting data and prepared the Balance Sheets o the Municipal Funds of the City of Moab as of June 30, 1968, and the Statements of Revenues and Expenditures, Receipts and Disbursements or Income and Expense for the 12 months ended June 30, 1968. The review of the supporting data 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, 1968, the City Officials were as follows: Mayor: City Council: City Attorney: City Judge: City Recorder: City Treasurer: CASH & INVESTMENTS depositories. Winford Bunce John Mullen, William D. McDougald, John W. West, Thomas A. Stocks & Harold Jacobs Robert H. Ruggeri Donald Crist Leland L. Stocks H. W. Balsley SCOPE OF WORK PERFORMED Cash in banks, aggregating Si06,757 and investments of $91,809 at June 30, i968, was verified by recon- ciling the balances confirmed directly to us by the NOTES AND The Public Utility Fund accounts receivable for water ACCOUNTS and sewer charges were tested by negative confirmation RECEIVABLE as of June 30, 1968. 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, 1968 with the exception of the Fixed Assets in the Utility Fund and the General Fixed Asset Fund for which no detailed records have been maintained. 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, 1968. All payments of bind principal and interest coupons were examined in detail and verified by personal contact with the paying agent. Other liabilities were reviewed, tested or reconciled from their inception 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, 1968, 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 checi: 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 rUND Revenues and Expenditures for the fiscal years ending June 30, 1968 and 1967. As noted in the comments that follow the caraparisons, both years contain nonreoccurring transactions. REVENUES Property Taxes $ 60,143 Sales Taxes 71,191 Licenses & Permits 55,170 Fines, Forfeitures & Penalties 21,713 Revenue From Use of Money & Property 83 Revenue From Other Agencies 29,601 Charges far Current Services 47,391 Other Revenue 195 TOTAL REVENUES $285,487 FISCAL YEAR ENDED JUNE 30 INCREASE 1968 1967 (DECREASE) $ 61,537 $ 0,394) 53,686 17,505 47,598 7,572 8,334 13,379 22 5,257 44,42o 1,456 $222,310 61 24,344 2,971 (1,261) $ 63,177 Page 2 PROPERTY TAXES - The receipts decreased from $4,396 per mill for the prior year to $4,296 per mill for the current year. The mill levy for both years was 14 mills. SALES TAXES - Detail of the z% tax collected by the State of Utah is as follows: FISCAL YEAR PERIOD FOR WHICH ENDED JUNE 30 INCREASE COLLECTED 1968 1967 (DECREASE) Prior Calendar Year 2nd Quarter 3rd Quarter 4th Quarter Current Calendar Year 1st Quarter TOTAL $ 14,424 $ 12,011 $ 2,413 21,995 14,789 7,206 18,631 13,033 5,598 16)141 13,853 $ 71,191 S 53,686 2,288 $ 17,505 The year ended June 30, 1968 increased 33% compared to an increase of 16% for the prior period compared to the adjusted 1966 collections. LICENSES & PERMITS - The increase of 16% was primarily in Gross Business. Licenses which accounted for 80% of the increase. FINES, FORFEITURES & PENALTIES - For the year ended June 30, 1968 the in- crease was 161% above the Revenues for the prior year. REVENUE FROM OTHER AGENCIES - The increase of $24,344 is entirely the re- sults of collecting two years Class "C" Road Fund Revenue in the year ended June 30, 1968, and not collecting any funds in the year ended in 1967. EXPENDITURES Administrative Department Municipal Court Police Department Inspection Department Dog Pound Streets & Highways Waste Collection Health Department Park Department Swimming Pool Contributions FISCAL YEAR ENDED JUNE 30 i968 1967 $ 30,003 $ 26,962 15,141 13,890 37,567 34,352 3,174 3,249 2,790 2,890 92,706 68,765 34,809 33,324 3,052 3,012 6,588 6,780 6,744 7,442 5,237 5,972 INCREASE (DECREASE) $ 3,041 1,25i 3,215 (75) (100) 23,941 1,485 40 ( 19 2) (698) (735) TOTAL EXPENDITURES $237,811 5206,638 $_31,173 Page 3 ADMINISTRATIVE DEPARTMENT - Salaries & Wages increased $1,886 or 12%. This was primarily caused as a result of charging z of the City Recorder's salary (Leland Stocks) to this Department when it had previously been entirely charged to the Utility Fund. In addition election costs of $574 were in- curred in the current year and not in the prior. MUNICIPAL COURT - The largest single increase in this Department was an in- crease of $500 in the amount of rent paid to Grand County for the Judge's Chambers. POLICE DEPARTMENT - Salaries & Wages increased $1,085 or 5%, Equipment Oper- ations increased S523 or 351„ Prisoner Care increased $471 or 111% and Em- ployee Benefits increased $861 or 48% to account for $2,940 of the $3,215 or total increase of 9/ in this Department. STREETS & HIGHWAYS - $10,472 of the increase is the use of Class "C" Road Fund funds in excess of similar funds available in the prior period. Another principal source of additional expenditures was the purchase of the Prichard Transfer Company land and building for $17,893, one-half of which, or $8,946 was charged to this Department. The other one-half being charged to the Utility Fund. Other areas with material increases were: Salaries & Wages, $3,237 or a 15% increase, Special Departmental Supplies, $1,595 or a 20% increase, Engineering, $2,330 or a 363% increase (principally the 4th East Intersection) . SPECIAL $2,628 of the Special Assessment Accounts Receivable re - ASSESSMENT present delinquent accounts on Districts 1 & 2. The bal- FUNDS ante of the Receivables of $10,177 represent other curb and 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 of $29,569. BOND When all Revenue Bond Requirements have been met, it is REDEMPTION the policy of the City to transfer from the Public Utility F 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 Re- quirements have been met. The transfer for the year ended .tune 30, 1968 was $38,450 of which $10,000 represented Bond Principal, S28,400 Bond Interest and S50 the paying Agent's fees. PUBLIC As of .tune 30, 1968, the Retirement Fund for the January UTILITY 1, 1962 Revenue Bonds had no balance, the interest due FUND duly 1, 1968 having been advanced to the collection agent in June, 1968. The Reserve Fund has a balance of $35,696. Its required amount of 20% of the amount placed into the Retirement Fund is $33 , 532. Page 4 As of June 30, 1968 and 1967, the water and sewer accounts receivable aging is as follows: o - 30 days 30 - 60 days 60 - 90 days Over 90 days For the gallons June 30, 1968 $16,738 75.79% 3,205 14.51% 445 2.01% i,698 7.69°% $22,o86 loo.00%, 12 months ending June 30, consumed were as follows: July August September October November December January February March April May June Water consumption per month for the The income varied June 30, 1967 $14,203 70.44% 2,815 13.96% 659 3.27% 2,485 12.33% i20,162 100.0o% 1968 and 1967, the water connections CONNECTIONS 1967- 1966- INCREASE 1968 1967 (DECREASE) 1,094 1,085 9 i,109 1,088 21 1,105 1,085 20 1,113 1,085 28 1,114 1,084 30 1,109 1,077 32 1,111 1,076 35 1,102 1,o56 46 I,o98 1,o75 23 1,105 1,092 13 1,1o8 1,092 16 1,115 1,094 21 and GALLONS CONSUMED IN THOUSANDS 1967- 1966- INCREASE 1968 1967 (DECREASE) 4o,84o 5o,8o3 (9,963) 55,471 54,893 578 45,196 36,893 8,303 30,785 26,175 4,610 24,032 21,48o 2,552 13,1o1 11,716 1,385 12,922 11,671 1,251 18,801 17,326 1,475 13,117 14,486 (1,369) 23,876 28,8o6 (4,93o) 30,569 32,796 (2,227) 41,628 32,943 8,685 350.338 339,988 10,350 increased from an average of 26,175 gallons per connection previous period, to 26,375 gallons for the current period. a5 follows: ANNUAL AVERAGE PER CONNECTION Water Income Per Connection Sewer income Per Connection Water Income Per 1,000 Gallons Sewer Income Per 1,000 Gallons of Water YEAR ENDED June 30, 1968 1967 $104.45 $103.24 52.83 51.00 0.33oo 0.3286 o.1669 0.1624 INCREASE (DECREASE) $ 1.21 1.83 0.0014 0.0045 OTHER - During the year the Utility Fund paid $7,056 for prior Engineering fees pertaining to the Sewage Disposal Plant for designs which were sub- sequently abandoned. The fees were expensed to Professional and Technical services rather than capitalized as part of the cost of the Sewage Disposal Plant. As of June 30, 1968, the Public Utility Construction Fund had expended all of the Bond Proceeds allocated to it and an additional $86,360 from the Utility Fund operating funds. Page 5 GENERAL Total disbursements for the General Fund and the Public Utility Fund increased in the following categories: EXPENDITURE CLASSIFICATION Salaries & Wages Materials, Supplies G Services Other Charges 1967- 1966- INCREASE 1968 1967 AMOUNT % $136,820 $123,639 $13,181 Il% 141,861 117,634 24,227 21% 22,287 19,794 2,493 13% As of September 10, 1968, the minutes for the month of June, 1968 were omit- ted in the Minute Book; the minutes skipping from May 21, 1968 to July 2, 1968. In addition, the minutes were not signed by the Mayor since April 24, 1968 and the City Recorder since December 19, 1967. Fixed Assets are carried on the City Books at a cost of $2,025,064. There are not adequate records available to determine what comprises this amount. An inventory and appraisal should very definitely be made in order to judge Insurance coverage and to establish accountability. Buildings and equipment are insured for loss at $179,000. Without any de- railed records of what the City owns, it is not possible to determine if this, amount is or is not adequate. If it is adequate, then the amounts at which the Fixed Assets are shown on the Financial Statement is grossly mis- stated. Very truly yours, E. J. Claus Certified Public Accountant Page 6 CITY OF MOAB Grand County, Utah SPECIAL IMPROVE- MENT GENERAL GUARANTY ASSETS TOTAL FUND FUND CASH ON HAND & IN BANKS ACCOUNTS RECEIVABLE Water & Sewer Special Assessments Due From Other Funds Other TOTAL ACCOUNTS RECEIVABLE INVESTMENTS 106,757 $ 41,812 22,086 12,805 25,678 2,445 63,o14 91,809 24,736 AMOUNTS TO BE PROVIDED FOR FUTURE BOND & INTEREST RETIREMENT 1,295,198 FIXED ASSETS Lard Buildings & Structures Improvements Other Than Buildings & Structures Machinery & Equipment Automobiles & Trucks Office Furniture & Equipment Wort in Progress Accumulated Depreciation NET FIXED ASSETS TOTAL ASSETS 93,084 361,920 831,459 110,308 41,463 30,973 1,108,253 k276,198) 2,301,262 6,638 25,678 25,678 53,858,040 $ 66,548 $ 32,316 Page 7 COMBINED BALANCE SHEETS All Funds -June 30, 1968 BOND GENERAL SPECIAL REDEMPTION TRUST 8-' PUBLIC BONDED GENERAL ASSESSMENT & INTEREST AGENCY UTILITY DEBT & FIXED FUND FUND FUND FUND INTEREST ASSETS $ 749 $ 3,903 $ 12,805 5,172 $ 48,483 2,445 22,086 12,805 2,445 22,086 29,563 29,563 32,000 35,073 71,207 342,326 745,797 26,886 13,565 18,217 1,078,690 (276,198) 2,020,490 $1,295,198 $ 21,877 19,594 85,662 83,422 27,898 12,756 251,209 $ 4 _,117 $ 35,901 $ 7,617 $2,126,132 $1.295,198 $ 251,209 Page 8 CITY OF MOAB Grand County, Utah SPECIAL IMPROVE- MENT GENERAL GUARANTY LIABILITIES, RESERVES & SURPLUS TOTAL FUND FUND LIABILITIES Accounts Payable Payroll Taxes & Withholdings Payable Due to Other Funds Due to Other Governmental Units Customers' Deposits Bonds Payable Bond Interest Payable in Future Years TOTAL LIABILITIES CONTRIBUTIONS Municipal Federal Other TOTAL CONTRIBUTIONS RESERVE FOR BOND RETIREMENT SURPLUS Surplus Invested in General Fixed Assets Unappropriated Surplus Earned Surplus TOTAL SURPLUS TOTAL LIABILITIES, RESERVES & SURPLUS $ 1,921 7,617 25,678 13,270 $ 320 8,292 1,292,000 479,198 1,827,976 320 962,998 191,209 163,020 12317,227 35,696 251,209 138,936 286,996 677,141 66,228 $ 32,316 66,228 32,316 $3.858,040 $ 66.548 $ 32.316 Page 9 COMBINED BALANCE SHEETS All Funds -June 30, 1968 BOND GENERAL SPECIAL REDEMPTION TRUST & PUBLIC BONDED GENERAL ASSESSMENT & INTEREST AGENCY UTILITY DEBT & FIXED FUND FUND FUND FUND INTEREST ASSETS $ 25,678 1.2,950 38,628 4,489 35,903 4,489 35,903 $ 1,921 7,617 8,292 476,000 7,617 486,213 962,998 191,209 163,020 1,317,227 35,696 286,996 $ 816,000 479,198 1,295,198 $ 251,209 286,996 251,209 $ 43,117 $ 35,903 $ 7,617 S2,126,1_32 $1,295,198 $ 251,209 Page 10 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures 12 12 MONTHS ENDED JUNE 30, 1968 MONTHS ACTUAL ENDED OVER JUNE 30, (CINDER) REVENUES 1967 ACTUAL BUDGET BUDGET PROPERTY TAXES $ 61,537 $ 60,143 $ 60,000 $ 143 SALES TAXES 53,686 71,191 48,000 23,191 LICENSES & PERMITS Gross Business Licenses 36,927 42,964 38,000 4,964 Other Business Licenses 6,034 7,430 5,200 2,230 Beer Licenses 2,385 1,850 2,250 (400) Building & Construction Permits 1,353 2,371 1,000 1,371 Other Licenses & Permits 899 555 50o 55 Total Licenses F Permits FINES, FORFEITURES & PENALTIES REVENUE FROM THE LSE 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 47,598 55,170 46,95o 8,220 8,334 2 1713 10,000 11,713 22 83 100 ( 1 7) - 24,344 11,664 12,680 5,257 5,257 5,250 7 5,257 29,601 16,914 12,687 2,750 2,700 2,700 34,665 36,215 36,000 215 7,005 8,476 6,o00 2,476 44,420 47,391 44,700 2,691 OTHER REVENUES Sale of Real or Personal Property 1,303 126 126 Sundry 153 69 200 (131) Total Other Revenues 1,456 195 200 (5) TOTAL REVENUES 222310 285,487 226,864 58,62,3 Page 11 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES GENERAL GOVERNMENT ADMINISTRATIVE Salaries & Wages Materials, Supplies & Services Other Charges Capital Outlays Total Administrative MUNICIPAL COURT Salaries & Wages Materials, Supplies & Services Other Charges Total Municipal Court TOTAL GENERAL GOVERNMENT 12 12 MONTHS ENDED JUNE 30, 1968 MONTHS ACTUAL ENDED OVER JUNE 30, (UNDER) 1967 ACTUAL BUDGET BUDGET $ 15,950 $ 17,836 $ 17,400 $ 436 8,610 9,796 12,600 (2,804) 2,307 2,215 2,890 (675) 95 156 156 26,962 30,003 32,890 (2,887) 10,116 11,596 11,600 (4) 2,989 2,27o 2,365 (95) 785 1,275 920 355 13,8g0 15,141 14,885 256 40,852 45,144 47,775 (2z631) PUBLIC SAFETY POLICE DEPARTMENT Salaries & Wages 22,955 24,040 24,600 (560) Materials, Supplies & Services 9,095 10,280 9,850 430 Other Charges 2,302 2,922 3,530 (608) Capital Outlays 325 Boa (175) Total Police Department 34,352 37,567 38,480 (913) INSPECTION DEPARTMENT Salaries & Wages 2,563 2,568 2,575 (7) Materials, Supplies & Services 449 327 485 (158) Other Charges 237 279 344 (65) Total Inspection Department 3 z249 3,174 3,404 _S230) Page 12 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd 12 12 MONTHS ENDED JUNE 30, 1968 MONTHS ACTUAL ENDED OVER JUNE 30, (UNDER) 1967 ACTUAL BUDGET BUDGET DOG POUND Salaries & Wages $ 900 S 900 $ 900 $ - Materials, Supplies & Services 1,865 1,727 2,060 (333) Other Charges 125 163 106 57 Total Dog Pound 2,890 2,790 3,066 (276) TOTAL PUBLIC SAFETY 40,491 43,531 44,950 (1,419) PUBLIC WORKS STREETS & HIGHWAY DEPT. (In- cluding Class "C" Road Fund) Salaries & Wages Materials, Supplies & Services Other Charges Capital Outlays Total Streets & Highways 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 22,101 25,338 22,500 2,838 35,500 48,171 47,147 1,o24 2,754 3,673 4,o65 (392) 8,410 15,524 5,000 lo_ 524 68,765 92,746 78,7.12 13,994 33,324 34,809 35,000 (191) 33,324 34,809 35,000 (1.21) 102,089 12277 _5_15 113,712 13,803 2,563 2,568 2,575 (7) 213 205 295 (90} 236 279 344 (65) 3,012 3,05.2 3,214 (162) 3,012 3,052 _3�214 (162) Page 13 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd PARKS & RECREATION PARKS Salaries & Wages Materials, Supplies & Services Other Charges Total Parks 12 12 MONTHS ENDED JUNE 30, 1968 MONTHS ACTUAL ENDED OVER JUNE 30, (UNDER) 1967 ACTUAL BUDGET BUDGET $ 5,239 $ 4,790 $ 5,000 $ (210) 1,104 1,274 850 424 437 524 601 (77) 6 L78o 6,588 6,451 137 SWIMMING POOL Salaries & Wages 4,599 3,959 4,800 (84 0 Matedei s, Supplies & Services 2,197 2,054 2,375 (321) Other Charges 646 731 710 21 Capital Outlays 700 (700) Total Swimming Pool 7,442 6,744 8,585 (1,841) TOTAL PARKS & RECREATION 14,222 13,332 15,036 (1,704) MISCELLANEOUS Contributions TOTAL MISCELLANEOUS TOTAL EXPENDITURES Excess or (Deficiency) of Revenue Over Expenditures Unappropriated Surplus - July 1 5,972 5,237 6,150 (913) 5,972 5,237 6,150 (913) 2o6,638 237,811 230 L837 6,974 15,672 47,676 $ (3,973) $ 51.649 2,880 18,552 UNAPPROPRIATED SURPLUS - JUNE 30 $ 18,552 $ 66,228 Page 14 CITY OF MOAB GENERAL FUND Grand County, Utah Expenditures - Summary 12 MONTHS ENDED JUNE 30, 1967 1968 1968 INCREASE (DECREASE) AMOUNT Salaries & wages $ 86,986 $ 93,595 $ 6,609 7.60% Materials, Supplies & Services 95,346 110,913 15,567 16.33% Other Charges 15,801 17,298 1,497 9.47% Capital Outlays 8,505 16,005 7500 88.18% TOTAL GENERAL FUND EXPENDITURES $206,638 $237,811 $ 31,133 15.09°% Page 15 CITY OF MOAB SPECIAL ASSESSMENT FIEND Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUNE 30, 1968 SPECIAL IMPROVE- MENT GUAR- CURB & GUTTER PROPOSED TOTAL ANTY DIST, 1 DIST. 2 DIST. 3 DIST, 4 CASH BALANCE-JULY 1, 1967 $11,590 $10,714 $ 602 $ - $ 106 $ 168 RECEIPTS Special Assessments Collected 2,979 942 2,037 Contributions -Municipal 1,050 1,050 Interest & Penalties on Assessments 769 601 168 Advances From Other Funds Mace or Repaid - (4,076) _(1 , 502) 5,578 TOTAL RECEIPTS 4,798 (4,076) 41 1,050 7,783 TOTAL CASH BALANCE & RECEIPTS 16,388 6 638 602 41 1,156 7,951 DISBURSEMENTS Construction Due Governmental Agencies 7,951 1,050 TOTAL DISBURSEMENTS 9,001 7,951 1,050 1,050 _7,951 CASH BALANCE - JUNE 30, 1968 $ 7,387 S 6,638 $ 602 $ 41 $ 106 $ Page 16 CITY OF MOAB BOND REDEMPTION & INTEREST FUND Grand County, Utah Revenues & Expenditures REVENUES Property Taxes Transfer from Utility Fund Tor al Revenues 12 12 MONTHS ENDED JUNE 30, 1968 MONTHS ACTUAL ENDED OVER .TUNE 30, (UNDER) 1967 ACTUAL BUDGET BUDGET $ 17,619 $ 17,182 $ 17,600 $ (418) 38,85o 38,45o 38,46o (1o) 56,469 55,632 56,060 (428) EXPENDITURES Bond Agent Fees 110 110 110 Collection of Taxes 240 202 250 (48) Matured Bonds 7/1/51 Series 5,000 5,000 5,000 2/1/56 Series 5,000 5,000 5,000 1/1/59'Series 10,000 10,000 10,000 Matured Interest 7/1/51 Series 770 633 632 2/1/56 Series 3,682 3,495 3,495 1/1/S9 Series 6,800 6,400 6,400 1/1/62 Series 22,000 22,000 22,000 Total Expenditures 53,602 52,840 52,887 (47) Excess or (Deficiency) of Revenues Over Expenditures Unappropriated Surplus - Beginning of Fiscal Year 2,867 2,792 $ 3,173 (381) 30,244 33,111 UNAPPROPRIATED SURPLUS - END OF FISCAL YEAR $ 33,111 $ 35.903 Page 17 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, 1967 JUNE 30, 1968 AMOUNT % AMOUNT $111,733 64.33 W 5,614 64.38 55,204 31.78 58,483 32.56 5,627 3.24 4,795 2.67 1,128 .65 703 .39 100.00 173,692 100.00 179,595 36,653 21.10 43,225 24.07 MATERIALS, SUPPLIES & SERVICES Subscriptions & Memberships 131 .08 384 .21 Ordinances F Publications 43 .02 185 .10 Travel 530 .31 319 .18 Office Expense F Supplies 1,446 .83 1,649 .92 Equipment Expense 2,977 1:71 3,140 i.75 Building & Ground Expense 7,103 4.09 9,214 5.13 Special Departmental Supplies 6,672 3.84 4,688 2.61 Rentals 300 .17 299 .17 Professional € Technical Services _ 3,086 1.78 11,070 6.16 Total Materials, Supplies & Services 22,288 12.83 30,948 17.23 OTHER CHARGES Insurance & Surety Bonds 1,149 .66 237 .13 Employees Benefits 2,844 1.64 4,752 2.65 Depreciation 30,349 17.47 33,100 18.43 Interest on Bonds Revenue 20,279 11.68 19,631 10.93 General Obligations 28,800 16.58 28,800 16.04 Total Other Charges _ 83,421 48.03 86,520 48.18 Total Expense 142,362 81.96 160,693 89.48 Net Income 31,330 18.04 18,902 10,52 Transfer (To) or From Reserve For Bond Retirement (5,856) (7,622) Net Credits to Earned Surplus Earned Surplus - Beginning of Period F,"ARMED SURPLUS - END OF PERIOD 25,474 11,280 250,241 275z716 $273,715 $286,996 Page 18 CITY OF MOAB Grand County, Utah PUBLIC UTILITY FUND Cash Receipts & Disbursements Bond Construction Accounts 12 Months Ended June 30, 1968 CASH BALANCE - JULY 1, 1967 $ 32,705 RECEIPTS Temporary Investments - Net Interest Income from Temporary Investments Contributions from U. S. Treasury Transfer Public Utility Fund - General Total Receipts Total Cash Balance & Receipts 45,720 323 57,700 86,360 190,103 222,808 DISBURSEMENTS Seeder Project Nielsen & Maxwell - Engineering 8,974 Infilco Fuller - Sewer Equipment 412 Colo Macco Construction Company 208,036 Richard O. Cozzens - Engineering 3,690 Larry Shumway - Land 250 Central Utah Insurance Agency - Insurance 521 Other 925 Total Disbursements 222,808 CASH BALANCE - JUNE 30, 1968 $ Page 19 CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUNE 30, 1967 1968 CASH BALANCE - JULY 1 (BEGINNING OF YEAR) $ 42,224 $ 72,758 RECEIPTS Customers Deposits - Net 2,453 2,764 Contributions - Other 2,057 10,693 Water r Seaver Service Charges 169,758 172,173 Temporary Investments - Net 24,080 Interest 1,925 4,399 Sundry Revenues 1,128 704 Total Receipts 177,321 214,813 Total Cash Balance & Receipts 219�545 287,571 DISBURSEMENTS Land Machinery & Equipment Autos & Trucks Office Furniture & Equipment Buildings Water Lines Sewer Lines Water Development Meters Principal 1/1/62 Revenue Bond Series Transfer to 1/1/62 Revenue Bond Sinking Fund Principal 1/1/59 General Obligation Bonds Transfer to Public Utility Bond & Construction Fund 10,000 25o 3,400 461 4,444 1,541 6,133 95 156 5,446 3,162 9,410 1,247 1,396 444 1,6o3 3,746 9,000 9,00o 6,656 7,146 1o,000 86, 36o 34,015 147,081 EXPENSE Salaries & Wages 36,653 43,224 Subscriptions & Memberships 131 384 Ordinances & Publications 35 193 Travel 530 319 Office Expense & Supplies 1,455 1,592 Equipment = Operating Supplies & Maintenance 2,547 3,470 Buildino & Grounds - Operating Supplies & Maintenance 7,189 8,963 Special Departmental Supplies 7,618 4,858 Rentals 300 324 Professional & Technical Services 3,242 10,956 Insurance & Surety Bonds 1,149 237 Employee Benefits 2,844 4,752 Interest on Bonds - Revenue 20,279 20,031 Interest on Bonds - General Obligation _ 28,800 28,400 112,772 127,703 Total Disbursements 146,787 274,784 CASH BALANCE - JUNE 30 (END OF YEAR) $ 72,758 $ 12,787 Page 20 CITY OF MOAB BOND & INTEREST MATURITIES Grand County, Utah All Funds GENERAL OBLIGATIONS FISCAL YEAR ENDED JUNE 30, 1968 1969 1970 Series 7/1/51 Principal Payment to be Made 5,000 5,000 5,000 Principal Outstanding - End of Year 18,000 13,00o 8,000 Interest Payments to be Made 632 495 358 Unmatured Interest - End of Year 1,073 578 220 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) '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) 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 5,000 5,000 93,000 88,000 83,000 3,495 3,3o8 3,12o 27,825 24,517 21,397 10,o00 1o,00o 10,o0o 155,000 145,000 135,Ooo 6,400 6,Oo0 5,600 32,3oo 26,300 20,700 550,000 22,000 418,000 9,000 476,000 20,031 550,000 22,000 396,000 10,000 466,000 19,770 550,000 22,000 374,000 10,00o 456,Oo0 19,433 Page 21 CITY OF MOAB Grand County, Utah All funds BOND & INTEREST MATURITIES Note l - 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 payments 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 22 CITY OF MOAB Grand County, Utah Western Surety Co. Limits $10,000 Bond No. 204-07-43 Western Surety Co. Limits $2,500 Bond No. 204-07-42 Firemen's Insurance Co. Limits Property Loss Auto Liability B I P D Comprehensive Liabili B I P D Policy No. CBP 96813 of Newark, New Jersey $179,000 $100,000/$300,000 $ 50,000 ty $100,000/$300,000 $ 50,000 Glen Falls Insurance Co. Limits $11,600 Policy No. I. M. 11-45-71 State Insurance Fund Limits -by Law Premium Rate .0107 Premium Rate .0073 INSURANCE COVERAGE & SURETY BOND IN FORCE June 30, 1968 Treasurers Bond Premium S204.00 4/9/67 to 4/9/70 Deputy Treasurers Bond Premium $25.50 4/9/67 to 4/9/70 Comprehensive Business Policy Adv. Premium $2,367.00 1/2/68 to 1/2/71 Contractors Equipment Premium $235.00 2/14/66 to 2/14/69 Workmens Compensation Road Maintenance Municipal Employees Page 23