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Home My Public Portal About1971-1972 AuditCITY OF MOAB MOAB, UTAH REPORT ON EXAMINATION June 30, 1972 12 Months Ended June 30, 1972 INDEX Page Accountant's Report 1 Combined Balance Sheets, June 30, 1972 Assets 2 Liabilities 3 General Fund, 12 Months Ended June 30, 1972 Revenues & Expenditures 4 Special Assessment Funds, 12 Months Ended June 30, 1972 Cash Receipts & Disbursements Bond Redemption & Interest Fund 12 Months Ended June 30, 1972 Revenues & Expenditures Public Utility Fund 12 Months Ended June 30, 1972 Income & Expense 8 9 10 Operations Cash Receipts & Disbursements 11 Bond & Interest Maturities All Funds 12 Notes To The Financial Statements 13 Insurance Coverage & Surety Bonds in Force 14 Statistical Summaries 15 E. J. CLADS CERTIFIED PUBLIC ACCOUNTAN7 PHONE 8O1-259.7221 P. O. BOX 636 MOAB, UTAH 84532 February 1, 1973 Honorable Mayor and City Council City of Moab Moab, Utah Gentlemen: We have examined the 3alance Sheets of the funds listed below of the City of Moab, Moab, Utah as of June 30, 1972, and the related Statements of Revenues, Expenditures and Fund Ba1a.,Ces for the year then ended. General Fund Special Assessment Fund Bond Redemption & Interest Fund Public Utility Fund Trust & Agency Fund Our examination was made, in accordance, with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we considers necessary in the cir- cumstances. The historical records of the Gener-,1 Fixed Assets for the land, buildings and equipment are incomplete. It is anticipated that the property of the city will be inventoried at sometime in the future and values individually assigned to each item. In our opinion, the accompanying Balance Sheets and Statements of Revenues, Expenditures and Fund Balancers present fairly the financial condition of the funds listed above of the City of Moab as of June 30, 1972, and the results of their operations for the year then ended in conformity with the State of Utah "Uniform Accounting Manual for Cities" and generally accepted principles of Governmental Accounting applied on a basis consistent with that of the preceding year. Also, in our opinion, the accompanying state- ments of other funds present fairly the cash receipts and disbursements of these funds for the year ended June 30, 1972. Very truly yours, E J. Claus Certified Public Accountant l COMBINED BALANCE SHEETS Al) Funds - .June 30, 1972 BOND GENERAL SPECIAL REDEMPTION TRUST & PUBLIC GENERAL BONDED ASSESSMENT & INTEREST AGENCY UTILITY FIXED DEBT & FUNDS FUND FUND FUND ASSETS INTEREST 5,083 $ 770 $ 9326 $ 56,057 100,061 301,505 401,566 55,000 55,000 1,167 27,142 1,236 40,000 1,167 68,378 100,800 71,207 356,658 1,859,964 33,536 13,564 18,502 (421 ,845) 1,931,586 21,877 28,268 89,028 97,935 31,094 12,738 280,940 $1,084,620 S 406,649 $ 55,770 $ 10,493 $2,156,821 $ 280,940 $1,084,620 2 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 Other Licenses & Permits Total Licenses & Permits Fines, Forfeitures & Penalties Revenue From The Use of Money & Property Intergovernmental Revenue Federal Grants Class "C" Road Fund Allotment Liquor Fund Allotment Total Intergovernmental Revenue Charges For Services Special Services by City Department Refuse Collections Swimming Pool Total Charges For Services Other Revenues Sale of Real or Personal Property Contributions From Other Funds Special Improvement Guaranty Special Assessment Districts Sundry Total Other Revenues Total Revenues 12 12 MONTHS ENDED JUNE 30, 1972 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 1971 ACTUAL BUDGET BUDGET $ 73,829 $ 70,681 $ 64,000 $ 6,681 8o,861 66,179 85,Gu0 (18,821) 47,1o3 5o,o73 46,5oo 6,68o 6,232 6,500 2,800 2,018 3,000 1,361 1,745 1,500 740 1,477 500 3,573 (268) (982) 245 977 58,684 61,545 58,oao 3,545 20,786 23,-24 19,000 4,724 2,128 349 - 349 11-,80o 4,525 16,325 5,446 45,713 9,04o 6o,199 39,836 968 897 41,7o1 354 513 4,170 16,524 4,525 25,219 13,0o0 4,5oo - 17,5o0 2,700 45,778 50,000 9,219 9,50o 4,170 3,524 25 7,719 (2,700) (4,222) (281) 54,997. 62,200 (7,203) 2,220 4o5 2,625 305,319 2,220 500 (95) 500 2,125 306 200 (881) 4 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES GENERAL GOVERNMENT Administrative Personal Services Materials, Supplies & Services Total Administrative Municipai Court Personal Services Materials, Supplies & Services Total Municipal Court 12 12 MONTHS ENDED JUNE 30, 1972 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 1971 ACTUAL BUDGET BUDGET $ 21,892 $ 23,705 $ 24,295 $ 590 3,628 5,531 4,9o0 (631) 25,520 29,236 29,195 (41) 17,586 17,925 19,210 1,285 1,604 1,515 1,800 285 19,190 19,440 21,0i0 1,570 Elections Materials, Supplies & Services 1,293 1,700 407 Total Elections 1 293 1,700 407 Buildings & Plant Materials, Supplies & Services Other Charges Capital Outlays 8,959 1,881 367 9,722 2,379 320 7,975 2,090 (1,747) (289) (320) Total Buildings & Plant 11,207 12,421 10,065 (2,356) Total General Government 55,917 62,390 61,970 (420} PUBLIC SAFETY Police Department Personal Services Materials, Supplies & Services Capital Outlays Total Police Department 32,864 36,484 36,264 (220) 9,662 12,350 8,840 (3,510) -- 3,836 1943 2,975 1,032 46,362 50,777 48,079 (2,698) 5 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd. Alcohol Enforcement Personal Services Materials, Supplies & Services Capital Outlays Total Alcohol Enforcement 12 12 MONTHS ENDED JUNE 30, 1972 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 1971 ACTUAL BUDGET BUDGET $ 7,309 $ 6,438 $ 6,400 $ (38) 23 2,149 1,560 (589) 343 525 182 7,332 8,930 8,485 (445) Inspection Department Personal Services 6,876 7,499 7,232 (267) Materials, Supplies & Services 957 1,037 950 . (87) Total Inspection Department 7,833 8,536 8,182 (354) Dog Pound Personal Services Materials, Supplies & Services Total Dog Pound Total Public Safety PUBLIC WORK5 4,418 4,664 4,633 (31) 2,125 2,757 2,450 (307) -- 6543 7,421 7,083 (338) 68� 070 75 , 664 _ 7.1829 (3,835) Streets & Highway Department (Including Class "C" Road Fund Personal Services 39,882 43,717 43,810 53 Materials, Supplies & Services 68,082 40,677 51,901 11,224 Capital Outlays 4,992 11486 3,000 1,514 Total Streets & Highway Department 112,956 85,880 98,711 12,831 Waste Collection Materials, Supplies & Services Total Waste Collection 46,020 47,186 53,000 5,814 46,020_ 47,186 53,000 5,814 6 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd. Flood Control Materials, Supplies & Services Total Flood Control Total Public Works PARKS & RECREATION 12 12 MONTHS ENDED JUNE 30, 1972 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 197i ACTUAL BUDGET BUDGET $ 2,057 5,000 $ 2,943 2,057 5,boo 2,943 $158,976 _135,123 156,71 1 21588 Parks Personal Services 6,173 6,447 6,441 34 Materials, Supplies & Services 1,286 1,285 2,000 715 Capital Outlays 525 1,000 475 Total Parks 7,459 8,217 9,44i 1,224 Swimming Pool Personal Services Materials, Supplies & Services Total Swimming Pool Total Parks & Recreation MISCELLANEOUS Contributions Total Miscellaneous Total Expenditures EXCESS OR (DEFICIENCY) OF REVENUE OVER EXPENDITURES 7,755 7,565 7,910 345 2,343 2,210 2,200 (10) 10,098 9,775 10,110 335 17,557 17,992 19,551 1,559 6,349 6,042 6,80o 758 6,349 6,042 6,80o 758 _306,869 297,211 316,861 19 650 47,644 8,108 5(1o,661) 5 18,769 Unappropriated Surplus - July 1 78,198 125,842 UNAPPROPRIATED SURPLUS JUNE 30 $125,842 $133,950 7 CITY OF MOAB SPECIAL ASSESSMENT FUND Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUNE 30, 1972 SPECIAL IMPROVE- MENT DISTRICT GUARANTEE TOTAL #3 FUND CASH BALANCE - JULY 1, 1971 $ 8o6 $ 806 $ - Receipts_ Special Assessments Collected - Citizens Property Taxes Proceeds From Sale of Bonds Interest & Penalties on Assessments Total Receipts Total Cash Balance & Receipts 17,152 5,053 280,0o0 5,785 17,152 280,o0o 5,785 5,053 307,990 302,937 5,053 308,796 3o3,743 5,053 Disbursements Construction 160,524 Repayment of Loans From Other Funds 109,000 Professional & Technical 77 Bonds Redeemed 22,000 Interest on Bonds 12.112 Total Disbursements 160,524 109,000 22,000 12,112 77 3o3,713 3°3,636 77 CASH BALANCE - JUNE 30, 1972 $ _ 5,083 $ 107 $ 4,976 8 CITY OF MOAB BOND REDEMPTION & INTEREST FUND Grand County, Utah Revenues & Expenditures 12 12 MONTHS ENDED JUNE 30, 1972 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 1971 ACTUAL BUDGET BUDGET REVENUES Property Taxes $ 14,766 $ 15,150 $ 19,500 $ (4,350) Interest Income 1,948 1,800 (1,800) Transfer From Utility Fund 37,250 46,660 46 b00 60 Total Revenues 53,964 61,810 67,900 (6,090) EXPENDITURES Bond Agent Fees 110 90 110 20 Collection of Taxes 197 230 250 20 Matured Bonds 7/1/51 Series 8,000 2/1/56 Series 5,000 5,000 5,000 1/1/59 Series 10,000 20,000 20,u00 Matured Interest 7/1/51 Series 220 2/1/56 Series 2,933 2,745 2,745 1/1/59 Series 5,200 4,600 4,60O I/1/62 Series 22,000 22,000 22,000 Total Expenditures 53,660 54)665 54z7o5 40 EXCESS OR (DEFICIENCY) OF REVENUES OVER EXPENDITURES 304 7,t45 $ 13,195 S (6,050) Unappropriated Surplus - Beginning of Fiscal Year 48,321 48,625 UNAPPROPRIATED SURPLUS - END OF FISCAL YEAR $ 48,625 $ 55,771 9 CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUNE 30, 1971 1972 CASH BALANCE - JULY 1 (BEGINNING OF YEAR) $ 6,129 $ 3,022 Receipts Customers' Deposits - Net 2,933 1,615 Contributions - Other 4,362 5,972 Water & Sewer Service Charges 184,855 192,713 Interest 6,670 6,582 Notes Receivable 500 Sundry Revenues 489 569 Received From Other Funds 72,000 Temporary Investments - Net 68,907 Total Receipts 268,216 279,951 Total Cash Balance & Receipts 274,345 282,973 Disbursements Temporary Investments - Net 100,000 Temporary Loan to Special Assessment Fund 112,000 Buildings & Structures 651 Office Furniture & Equipment 367 318 Principal 1/1/62 Revenue Bond Series 11,000 11,000 Transfer to 1/1/62 Revenue Bond Sinking Fund 2,111 3,798 Principal 1/1/59 General Obligation Bonds _ 10,000 20,000 136,129 135,116 Expense Salaries & Wages 47,2$9 49,876 Materials, Supplies & Services 33,445 40,547 Insurance & Surety Bonds 978 1,278 Employee Benefits 7,269 6,805 Interest on Bonds - Revenue 19,013 18,573 Interest on Bonds - General Obligation 27�200 26,600 Total Disbursements 271,323 278,795 CASH BALANCE - JUNE 30 (END OF YEAR) $ 3,022 $ 4,178 11 CITY OF MOAB BOND 8- INTEREST MATURITIES Grand County, Utah All Funds GENERAL OBLIGATIONS 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 Outstanding - End of Year Interest Payments 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 SPECIAL IMPROVEMENT Series 6/1/71 Principal Payment to be Made Principal Outstanding - End of Year Interest Payments to be Made Unmatured Interest - End of Year FISCAL YEAR ENDED .TUNE 30, 1972 1973 1974 5,000 73,000 2,745 15,720 20,000 105,000 4,600 10,900 550,000 22,000 330,000 1I,Oo0 434,o0o 18,573 5,o00 68,OOo 2,557 13,163 20,000 85,000 3,800 7,100 550,000 22,000 308,000 12,000 422,000 18,112 5,000 63,000 2,370 10,793 20,000 65,000 3,000 4, too 550,000 22,000 286,000,-/- 12,000 4i0,000 17,633 22,000 23,000 25,000 258,000 235,000 210,000 15,200 14,155 13,063 77,755 63,600 50,537 12 CITY OF MOAB NOTES TO THE FINANCIAL STATEMENTS 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 payments shown are adjusted to reflect this policy. Hence, payments which would actu- ally 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 of Moab 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 pro- ceeds of these Bond Series having been contributed to the Public Utility Fund for construction purposes. 13 CITY OF MOAB Grand County, Utah Western Surety Company Limits $10,000 Bond No. 204-07-43 Western Surety Company Limits $2,500 Bond No. 204-07--42 Pacific Insurance Company Property Loss $214,074 Auto Liability B 1 $100,000/$300,000 P D $50,000 Comprehensive Liability B f $100,000/$300,000 P D $50 , 000 Policy No. CBP 97654 State Insurance Fund Limits - By Law Premium Rate .0129 Premium Rate .0087 INSURANCE COVERAGE & SURETY BOND IN FORCE June 30, 1972 Treasurer's Bond Premium $204.00 4/9/70 to 4/9/73 Deputy Treasurer's Bond Premium $25.50 4/9/70 to 4/9/73 Comprehensive Business Policy Annual Premium $3,027.00 1/2/71 to 2/1/74 Workmen's Compensation Road Maintenance Municipal Employees 14 CITY OF MOAB Grand County, Utah GENERAL FUND STATISTICAL SUMMARIES Revenues decreased $49,194 or 14% for the fiscal year ending June 30, 1972, as follows: REVENUES Property Taxes Sales Taxes Licenses & Permits Fines,. Forfeitures & Penalties Revenues From Use of Money & Property Intergovernmental Revenue Charges For Services Other Revenue TOTAL REVENUES The '—z% tax collected by the FISCAL YEAR ENDED JUNE 30, INCREASE 1972 1971 (DECREASE) $ 7o,681 $ 73,829 $ (3,148) 66,179 8o,861 (14,682) 61,545 58,684 2,861 23,724 2o,786 2,938 349 2,128 0,779) 25,219 16,325 8,894 54,997 6o,199 (5,202) 2 z625 41 , 70.1 (39,076) $305.319 $354,513 $(49,194) State of Utah for the year ended June 30, 1972 decreased 18% compared to an increase of 23% for the prior period. SALES TAX REVENUE (PERIOD FOR WHICH COLLECTED) Prior Calendar Year 2nd Quarter 3 rd Quarter 4th Quarter Current Calendar Year 1st Quarter TOTAL FISCAL YEAR ENDED JUNE 30, 1972 1971 $ 17,117 18,005 16,472 14,585 $ 66,179 $ 22,165 21,846 21,534 15,316 $ 80,861 INCREASE (DECREASE) $ (5,048) (3,841) (5,062) (731) $ (14, 682) 15 CITY OF MOAB Grand County, Utah STATISTICAL SUMMARIES SPECIAL ASSESSMENT FUNDS The Special Improvement Fund through June 30, 1972 had made expenditures of $301,505 for the benefit of the City of Moab - General Fund. The General Fund in its 1971--72 budget had no provision for any payment, pending determination of the exact amount owed to the Special Improvement Fund. Hence, as of June 30, 1972, the City of Moab still owed the Special Improvement Fund the full $301,505, of which $162,787 is the City's share of the Special Improvement Bond principal and $138,718 is in effect an open account. In order for this fund to avoid showing a deficit in its bank account, it was necessary to borrow from other funds as follows: General Fund Bond Redemption & Interest Fund Public Utility,Fund $ 55,000 55,000 40,000 $150,000 BOND REDEMPTION & INTEREST FUND When all Revenue Bond Requirements have been met, it is the policy of the City to transfer from the Public Utility Fund sufficient funds to pay Principal, Interest and Bond Agents fees of the 1/1/59 and 1/1/62 General Obligation Bond Series. The proceeds of these Bond Series were previously 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. The transfer for the year ended June 30, 1972 was $46,660 of which $20,000 represented Bond Principal, $26,600 Bond Interest and $60 the paying Agents fees. PUBLIC UTILITY FUND As of .June 30, 1972, the Retirement Fund for the January 1, 1962 Revenue Bonds has no balance, the interest due July 1, 1972 having been advanced to the collection agent in June,1972. The Reserve Fund has a balance of $51,879. Its required amount of 20°% of the amount placed into the Retirement: Fund is $57,290. As of June 30, 1972 and 1971, the water and sewer accounts receivable aging is as follows: 0 - 30 days 30 - 60 days 60 - 90 days Over 90 days JUNE 30, 1972 JUNE 30, 1973 $18,703 68.91% $17,996 66.88% 5,850 21.56% 4,082 15.17% 593 2.18% 1,381 5.13% 1,996 7.35% 3,450 12.82% $27,142 100,00% $26,909 100.00%, l7 CITY OF MOAB Grand County, Utah STATISTICAL SUMMARIES PUBLIC UTILITY FUND, Cont'd. For the 12 months ending June 30, 1972 and 1971, the water connections and gallons consumed were as follows: CONNECTIONS CONSUMED IN THOUSANDS 1970- INCREASE 1971 (DECREASE) 1971- 1970- INCREASE 1972 1971 (DECREASE) July 1,247 1,215 32 August 1,248 1,192 56 September 1,220 1,202 18 October 1,200 1,193 7 November 1,186 1,197 (11) December 1,200 1,197 3 January 1,217 1,178 39 February 1,217 1,182 35 March 1,215 1,198 17 April 1,228 1,198 30 May 1,221 1,191 30 June 1,221 1,186 35 Water tion, GALLONS 1971- 1972 58,476 49,459 9,017 36,125 27,816 8,3o9 30,32o 32,615 (2,295) 21,5o6 13,192 8,314 13,676 16,o98 (2,422) 14,364 16,o98 (1,734) 15,751 13,634 2,117 15,751 15,838 (87) 31,965 29,925 2,o4o 47,o18 51,148 (4,13c) 58,089 53,950 4,139 61,182 63,596 (2,414) 4o4,223 383,369 2o,854 consumption increased 894 gallons from an average of 26,755 gallons per connec-- per month for the previous period, to 27,649 gallons for the current period. The income varied as follows: ANNUAL AVERAGE PER CONNECTION Water Sewer Water Sewer Income Income Income Income Per Connection Per Connection Per 1,000 Gallons Per 1,000 Gallons of Water OTHER YEAR ENDED JUNE 30, 1972 1971 $1o8.75 $107.00 49.66 50.73 o.3277 o.3333 o.1496 o.1580 INCREASE (DECREASE) $ 1.75 (1.07) (0.0056) (0.0084) Expenditures in similar categories for both the General Fund and the Public Utility Fund increased in the following categories: EXPENDITURES CLASSIFICATION Personal Services Materials, Supplies & Services Other Charges 12 MONTHS ENDED JUNE 30, 1972 1971 $211,o85 $199,313 17c,316 178,134 9,699 9,208 1972 INCREASE (DECREASE) AMOUNT $ 11,772 (7,818) 491 5.91°% (4.39%) 5.33% 18