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Home My Public Portal About1972-1973 AuditCITY OF MOAB MOAB, UTAH REPORT ON EXAMINATION June 30, 1973 12 Months Ended June 30, 1973 INDEX Accountant's Report Page 1 Combined Balance Sheets, June 30, 1973 Assets 2 Liabilities 3 Trust & Agency Funds Balance Sheets, June 30, 1973 4 General Fund, 12 Months Ended June 30, 1973 Revenues & Expenditures 5 Special Assessment Funds, 12 Months Ended June 30, 1973 Cash Receipts & Disbursements Bond Redemption & Interest Fund, 12 Months Ended June 30, 1973 Revenues & Expenditures Trust & Agency Funds, 12 Months Ended June 30, 1973 Cash Receipts & Disbursements Public Utility Fund, 12 Months Ended June 30, 1973 Income & Lxpense 9 10 11 12 Operations Cash Receipts & Disbursements 13 Bond & Interest Maturities All Funds 14 Notes to the Financial Statements 15 Insurance Coverage & Surety Bonds in Force 16 Statistical Summaries 17 Claus and Auger CERTIFIED PUBLIC ACCOUNTANTS E. J. Claus, C.P.A. Ronald Auger, C.P.A. Ellis R. Cook, Jr.. E.A. Barton Johnson, Accountant Honorable Mayor and City Council City of Moab Moab, Utah Gentlemen: February 15, 1974 Telephone: 801-2 59-7 221 P. O. Box 636 Moabr Utah 84532 We have examined the Balance Sheets of the funds listed below of the City of Moab, Moab, Utah as of June 30, 1973, and the related Statements of Revenues, Expenditures and Fund Balances for the year then ended, General Fund Special Assessment Fund Bond Redemption & Interest Fund Public Utility Fund Trust & Agency Fund We have compared the financial data for the year ended June 30, 1973, in- cluded on Bureau of Census Form RS-9 with the audited records. Our examin- ation was made, in accordance, with generally accepted auditing standards, and the "Audit Guide and Standards for Revenue Sharing Recipients" issued by the Office of Revenue Sharing, U. S. Department of the Treasury, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. The historical records of the General 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 Balances present fairly the financial condition of the funds listed above of the City of Moab as of June 30, 1973, 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, 1973. Very truly yours, Claus & Auger Certified Public Accountants 1 COMBINED BALANCE SHEETS All Funds - June 30, 1973 BOND SPECIAL REDEMPTION TRUST & PUBLIC GENERAL ASSESSMENT & INTEREST AGENCY UTILITY FIXED FUNDS FUND FUNDS FUND ASSETS $ 1,624 $ 26,138 $ 31,033 $ 33,900 83,625 720 286,824 371,169 $ 372,793 35,000 23,589 1,803 556 35,000 25,948 55,000 144,000 71,207 356,658 1,898,278 33,536 13,564 31,738 (458,946) 1,946,035 21,877 28,268 95,961 99,750 46,310 12,941 305,107 GENERAL BONDED DEBT & INTEREST $1,031,263 $ 61,138 $ 86,033 $2,149,883 $ 305,107 $1,031,263 2 COMBINED BALANCE SHEETS All Funds - June 30, 1973 BOND GENERAL SPECIAL REDEMPTION TRUST & PUBLIC GENERAL BONDED ASSESSMENT & INTEREST AGENCY UTILITY FIXED DEBT & FUNDS FUND FUNDS FUND ASSETS INTEREST t $ 143,000 235,000 $ 2,634 12,720 8,936 $ 12,345 378,000 12,720 (5,207) (5,207) 16,513 422,000 12,345 450,083 48,418 73,688 48,418 73,688 892,998 202,999 1 97, 283 1,233,280 59,581 346,939 $ 305,107 346,939 305,107 $ 703,000 328,263 1,031,263 $ 372,793 $ 61,138 $ 86,033 $2,149,883 $ 305,107 $1,031,263 i 3 i CITY OF MOAB Grand County, Utah ASSETS Cash in Banks Investments TOTAL ASSETS LIABILITIES & FUND BALANCES Liabilities Accrued Payroll Taxes Total Liabilities Fund Balances TRUST & AGENCY FUNDS Balance Sheet .tune 30, 1973 FEDERAL REVENUE COLLECTOR SHARING ROAD EMPLOYEE TOTAL FUND FUND BENEFIT: $ 31,033 $ 16,392 $ 2,296 $ 12,345 55,000 55,000 $ 86,033 $ 71,392 $ 2,296 $ 12,345 $ 12,345 12,345 73,688 $ 71,392 2,296 $ 12,345 12,345 TOTAL LIABILITIES & FUND BALANCES S 86,033 $ 71,392 $ 2,296 $ 12,345 4 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 Collector Road Fund Allotment Total Intergovernmental Revenue Charges For Services Special Services by City Departments Refuse Collections Swimming Pool Total Charges For Services Other Revenues Sale of Real or Personal Property Sundry Total Other Revenues Total Revenues 12 MONTHS ENDED JUNE 30, 1972 $ 70,681 66,179 12 MONTHS ENDED JUNE 30, 1973 ACTUAL BETTER (WORSE) ACTUAL BUDGET BUDGET $ 89,441 $ 86,200 $ 3,241 74,153 6_ 5 000 9,153 50,073 55,173 48,500 6,673 6,232 7,223 6,500 723 2,018 2,650 3,000 (350) 1,745 2,962 2,000 962 1,477 1,101 1,000 101 61,545 69T1o9 61,00o 8,109 23,724 26,116 22,000 4,116 349 509 509 4,170 16,524 4,525 37,241 14,490 8,083 41,300 103,562 13,000 4,525 25,219 101 , 114 1 21 ,087 45,778 9,219 54,997 5,685 51,889 8,635 66,209 2,220 1,370 405 40 (66,321) 1,490 3,558 41,300 (19, 973) 6,000 (315) 51,000 889 9,000 (365) 66,000 209 1,370 100 (60) 2,625 1,410 100 1,310 305,319 �428,061 421,387 6,674 5 CITY :[f7 MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES GENERAL GOVERNMENT Administrative Personal Services Materials, Supplies & Services Total Administrative 12 12 MONTHS ENDED JUKE 30,1973 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 1972 ACTUAL BUDGET BUDGET $ 23,705 $ 25,171 $ 25,850 $ (321) 5,531 4,703 5,450 747 29,236 30,874 31,300 426 Municipal Court Personal Services 17,925 19,484 ]9,975 491 Materials, Supplies & Services 1,515 1,962 1,600 (362) Total Municipal Court 10 21,446 21,575 129. Elections Materials, Supplies & Services Total Elections 1,293 1,293 Buildings & Plant Materials, Supplies & Services 9,722 12,469 10,000 (2,469) Other Charges 2,379 2,057 2,800 743 Capital Outlays 320 608 (608) Total Buildings & Plant 12,421 15,134 12,800 (2,334) Total General Government 62,390 67,454 65,675 (1,779) 'PUBLIC SAFETY Police Department Personal Services 36,484 43,671 45,098 1,427 Materials, Supplies & Services 12,350 12,128 12,922 794 Capital Outlays 1,943 6,052 7,_650 1,598 Total Police Department 50,777. 61,851 65,67o 3,819 Alcohol Enforcement Personal Services Materials, Supplies & Services Capital Outlays Total Alcohol Enforcement 6,438 7,602 7,959 357 2,149 2,092 2,103 11 343 465 600 135 8,930 10,159 1.0,662 503 6 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd. Inspection Department Personal Services Materials, Supplies & Services Total Inspection Department 12 12 MONTHS ENDED JUN1E ?0, 1973 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 1972 ACTUAL BUDGET BUDGET $ 7,499 $ 7,926 $ 7,638 $ (288) 1,037 1,013 1,050 37 8,536 8,939 8� 688 (251) Dog Pound Personal Services 4,664 4,993 4,818 (175) Materials, Supplies & Services 2,757 2,500 2,900 400 Total Dog Pound 7,421 7,493 _7,718 225 Total Public Safety 75,664 88,442 92,738 4,296 PUBLIC WORKS Street & Hirlhway Department (including Class "C" Road Fund) Personal Services 43,717 47,346 45,825 Materials, Supplies & Services 40,677 73,358 75,800 Capital Outlays 1,486 12,119 45,GOO Total Streets & Highway Department 85,880 132,823 166,625 Waste Collection Materials, Supplies & Services Total Waste Collection Collector Roads Materials, Supplies & Services Total Collector Roads Flood Control Materials, Supplies & Services Total Flood Control Total Public Works (1,521) 2,442 32,881 33,802 47,186 53,106 51,000 (2,106) 47,186 53�106 51,uo0 (2,106) 41,300 (41,300). 41,300 (41,300) 2,057 113 3,000 2,887 2,057 113 3COO 2,887 _135,123 227,342 220,625 (6,717) 7 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd, PARKS & RECREATION Parks Personal Services Materials, Supplies & Services Capital Outlays Total Parks 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 Unappropriated Surplus - July 1 12 MONTHS ENDED JUNE 30, 1972 $ 6,407 1,285 525 8,217 7,565 2,210 12 MONTHS ENDED JUNE 30, 1973 ACTUAL. BETTER (WORSE) ACTUAL BUDGET BUDGET $ 7,651 4,593 2,125 14,369 $ 6,697 2,100 28,500 37,297 8,348 8,225 2,402 2,700 9,775 10,750 10,925 $ (954) (2,493) 26,375 22,928 (123) 298 175 17,992 25,119 48,222 23L103 6,042 14,824 6,800 (8,024) 6 io42 14,824 6,800 (8,024) _297,211 423,181 434,o6o 10,879 8,108 4,88o $(12,673) $ 17,553 125,842 133,950 UNAPPROPRIATED SURPLUS - JUNE 30 $133,950 $138,830 F 8 CITY OF MOAB SPECIAL ASSESSMENT FUND Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUKE 30, 1973 SPECIAL IMPROVE- MENT DISTRICT GUARANTEE TOTAL #3 FUND CASH BALANCE - JULY 1, 1972 $ 5,083 $ 107 Receipts Special Assessments Collected Citizens General Fund Property Taxes Interest & Penalties on Assessments 16,11"7 15,000 5,201 6,286 Total Receipts 42,604 Total Cash Balance & Receipts Disbursements Repayment of Loans From Other Funds Bonds Redeemed Interest on Bonds Total Disbursements 16,117 15,000 6,286 $ 4,976 5,201 37,403 5,201 47,687 37,510 10,177 7,000 23,000 16,063 7,000 23,000 16,063 46,063 46,063 CASH BALANCE - JUNE 30, 1973 $ 1,624 $ (8,553) $ 10,177 9 CITY OF MOAB BOND REDEMPTION & INTEREST FUND Grand County, Utah Revenues & Expenditures 12 12 MONTHS ENDED JUNE 30, 1573 MONTHS ACTUAL ENDED BETTER JUNE 30, (WORSE) 1972 ACTUAL BUDGET BUDGET REVENUES Property Taxes $ 15,150 $ 225 $ 225 interest Income $ 1,000 (1,000) Transfer From Utility Fund 46,660 45,860 45,800 60 Total Revenues 61,810 46c85 468oc (715) EXPENDITURES Bond Agent Fees 90 80 300 220 Collection of Taxes 230 Matured Bonds 2/1/56 Series 5,000 5,000 5,000 1/1/59 Series 20,000 20,000 20,000 Matured Interest 2/1/56 Series 2,745 2,557 2,557 1/1/55 Series 4,600 3,800 3,800 1/1/62 Series 22,000 22,000 22,000 Total Expenditures EXCESS OR (DEFICIENCY) OF REVENUES OVER EXPENDITURES 54,665 53,437 53,657 220 7,145 (7,352) $ (6,857) S (495) Unappropriated Surplus - Beginning of Fiscal Year 48,625 55,770 UNAPPROPRIATED SURPLUS - END OF FISCAL YEAR $ 55,770 $ 48,418 10 CITY OF MOAB TRUST & AGENCY FUNDS Grand County, Utah Cash Receipts & Disbursements CASH BALANCE - JULY 1, 1972 Receipts Transfers From Other Govern- mental Units Federal Revenue Sharing Collector Road Fund Earnings on Investments Payroll Deductions & Cont- ributions by Moab City & City Employees Total Receipts Total Cash Balance & Receipts Disbursements Street Department Materials, Supplies & Services Capital Outlays Parks Department Capital Outlays Police Department Materials, Supplies & Services Capita] Outlays 12 MONTHS ENDED JUNE 30, 1973 FEDERAL REVENUE SHARING COLLECTOR EMPLOYEE TOTAL FUND ROAD FUND BENEFITS $ 10.493 $ - S - $ 10,493 97,325 43,596 1,441 97,325 1,441 43,596 89,070 89�070 231,432 98,766 43t596 89,070 241,925 98,766 43,596 99,563 55,420 14,120 8,699 8,699 638 638 500 3,417 Payroll Taxes, Employee insurance, Retirement & Savings Deposits 87,218 Total Disbursements 500 3,417 41,300 87218 155,892 27,374 41,300 8_7,218 CASH BALANCE - JUNE 30, 1973 $ 86,033 $ 71,392 $ 2,296 $ 12,345 Il CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Income & Expense 12 MONTHS ENDED JUNE 30, 1972 JUNE 30, 1973 !MOUNT % AMOUNT INCOME Water Sales $132,462 66.67 $124,205 64.53 Sewer Service Charge 60,484 30.44 61,467 31.93 Interest 5,163 2.60 6,119 3.18 Other Charges 569 .29 688 .36 Total Income 198,678 100.00 192,479 150.00 EXPENSE Salaries & Wages 49,876 25.10 51,607 26.81 Materials. Supplies & Services Subscriptions & Memberships 222 .11 H O .06 Ordinances & Publications 66 .03 10 .01 Travel 684 .34 280 .14 Office Expense & Supplies .3,854 1.94 1,233 .64 Equipment Expense 14,931 7.52 8,556 4.45 Building & Ground Expense 13,664 6.88 14,496 7.53 Special Departmental Supplies 3,736 1.88 7,037 3.66 Rentals 229 .12 95 .04 Professional & Technical Services 4,389 2.21 3,415 1.77 Total Materials, Supplies & Services 41,775 21.03 35,232 18.30 Other Charges Insurance & Surety Bonds 1,278 .64 1,347 .96 Employee Benefits 6,805 3.43 9,532 4.95 Depreciation 36,413 18.33 37,101 19.28 Interest on Bonds Revenue 18,573 9.35 18,112 9.41 General Obligations 26,600 13.38 25,800 13.40 Total Other Charges 89 669 45.13 92,392 48.00 Total Expense NET INCOME Transfer (To) or From Reserve For Bond Retirement Net Credits To Earned Surplus Earned Surplus - Beginni_ng of Period EARNED SURPLUS - END OF PERIOD 181,320 91.26 179,231 93.11 17,358 8.74 13,243 - 6.89 (3,798) (7,702) 13,560 5,546 327,833 341,393 $341,393 $346,939 12 CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Cash Receipts & Disbursements 12 MONTHS ENDED JUICE 30, 1972 1973 CASH BALANCE - JULY 1 (BEGINNING OF YEAR) $ 3,022 Receipts Customer's Deposits - Net Contributions - Other Water & Sewer Service Charges Interest Notes Receivable Sundry Revenues Received From Other Funds Total Receipts $ 4,178 1,615 1,200 5,972 4,330 192,713 189,225 6,582 5,115 Soo 680 569 688 72,000 40,000 279,951 24411 238 Total Cash Balance & Receipts 282,973 245,416 Disbursements Temporary Investments - Net Improvements Water Development Office Furniture & Equipment Principal 1/1/62 Revenue Bond Series Transfer To 1/1/62 Revenue Bond Sinking Fund Principal 1/1/59 General Obligation Bonds Expense Salaries & Wages Materials, Supplies & Services Insurance & Surety Bonds Employee Benefits Interest on Bonds - Revenue Interest on Bonds - General Obligation Total Disbursements 100,000 9,113 29,200 318 13,236 11,000 12,000 3,798 7,702 20,000 20,000 135,116 91,251 49,876 51,607 �Q,547 37,883 1,278 1,847 6,805 9,532 18,573 9,177 26,60o 25,800 278,795 L27,097 CASH BALANCE - JUNE 30 (END OF YEAR) S 4,178 $ 18, 31 9 13 CITY OF MOAB BOND & 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 to 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 Pr i nc i pal Payment to be Made Principal Outstanding - End of Year Interest Payments to be Made Unmatured Interest - End of Year FISCAL YEAR. ENDED JUNE 30, 1973 1974 1975 5,000 5,000 5,000 68,000 62,000 58,000 2,557 2,370 2,183 13,163 10,793 8,610 20,000 20,000 20,000 85,000 65,000 45,000 3,800 3,000 2,200 7,100 4,100 1,900 550,000 550,000 550,000 22,000 22,000 22,000 308,000 286,000 264,000 12,000 12,000 13,000 422,000 410,000 397,000 18,112 17,633 17_,133 23,000 25,000 25,000 235,000 210,000 185,000 14,155 13,063 11,875 63,600 50,537 38,662 14 r 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 net, sufficient funds to pay the 1/1/59 and 1/1/62 General Obligations Bond Series. The pro- ceeds of these Bond Series having been contributed to the Public Utility Fund for construction purposes. 15 CITY OF MOAB Grand County, Utah Western Surety Company Limits $2,500 Bond No. 204-07-43 Western Surety Company Limits $10,000 Bond No. 204-07-42 Pacific Insurance Company Property Loss $214,074 Auto Liability B $100,000/$300,000 P D $50,000 Comprehensive Liability B I $100,000/$300,000 P D $50,000 Honesty Blanket Position Bond Coverage $2,500 Policy NO. CBP 97654 State Insurance Fund Limits - By Law Premium mate .0129 Premium Rate .0087 Experience Modification 1,10 INSURANCE COVERAGE SLRETY BOND IN FORCE June 30, 1973 Treasurer's Bond Premium $51.00 4/9/73 to 4/9/76 Deputy Treasurer's Bond Premium $102,00 4/9/73 to 4/9/76 Comprehensive Business Policy Annual Premium $3,506 (Calendar Year 1972) 1/2/71 to 2/1/74 Workmen's Compensation Road Maintenance Municipal Employees 16 CITY OF 1.10.EB Grand County, Utah Revenues follows: STATISTICAL SUMMARIES GENERAL FUND increased $122,742 or 40% for the fiscal year ending June 30, 1973, as REVENUES Property Taxes Sales Taxes Licenses & Permits Fines, Forfeitures & Penalties Revenues From U5C of Money & Property intergovernmental Revenue Charges for Services Other Revenue TOTAL REVENUES The I% sales tax collected by the State increased 12% compared to a decrease of SALES TAX REVENUE (PERIOD FOR WHICH COLLECTED) Prior Calendar Year 2nd Quarter 3rd Quarter 4th Quarter Current Calendar Year 1st Quarter TOTAL FISCAL YEAR ENDED JUNE 30, 1973 1972 $ 89,441 $ 70,681 74,153 66,179 69,109 61,545 26,116 23,724 509 349 101,114 25,219 66,209 54,997 1,410 2,625 INCREASE (DECREASE) $ 18,760 7,974 7,564 2,392 160 75,855 11,212 (1,215) $428,061 $305,319 $122,742 of Utah for the year ended June 30, 1973 18% for the prior period, FISCAL YEAR ENDED JUNE 30, 1973 $ 20,200 20,283 16,426 . 17 , 244 $ 74,153 INCREASE 1972 (DECREASE) $ 17,117 18,005 16,472 3,083 2,278 (46) 14,585 2,659 $ 66,179 $ 7,974 17 CITY OF MOAB Grand County, Utah GENERAL FUND, Cont'd Expenditures increased $125,970 or 42%, as follows: EXPENDITURES -- DEPARTMENTAL Administrative Department Municipal Court Elections Building & Plants Police Department Alcohol Enforcement Inspection Department Dog Pound Street & Highways Collector road Fund Waste Collection Flood Control Park Department Swimming Pool Contributions TOTAL EXPENDITURES EXPENDITURES - CLASSIFICATION Personal Services Materials, Supplies & Services Other Charges Capital Outlays FISCAL YEAR ENDED JUNE 30, 1973 1972 $ 30,874 21,446 15,134 61,851 10,159 8,939 7,493 132,823 41,300 53,106 113 14,369 10,750 14824 $423,181 FISCAL YEAR ENDED JUKE 30, 1973 1972 $ 29,236 19,440 1,293 12,421 50,777 8,93u 8,536 7,421 85,880 47,186 2,057 8,217 9,775 6.042 STATISTICAL SUMMARIES INCREASE (DECREASE) 1,638 2,006 (1 $ 293) 2,713 1 1 ,074 1,229 403 72 46,943 41,300 5,920 (1,944) 6,152 975 8,782 $297,211 Si25 970 1973 INCREASE AMOUNT $173,192 $154,404 $ 18,788 211,739 129,769 81,970 16,881 8,421 8,460 21,369. 4,617 16,752 TOTAL GENERAL FUND EXPENDITURES $423,181 $297,211 $125,970 (DECREASE) 1 2.16% 63.16%' 100.46% 362.83% 42.38% 18 CITY OF MOAB Grand County, Utah STATISTICAL SUMMARIES SPECIAL. ASSESSMENT FUNDS The Special Improvement Fund through June 30, 1973 had made expenditures of $30I,824 for the benefit of the City of Moab - General Fund, of which $162,787 was the City`s share of the Special Improvement Bond principal and $139,037 was 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 $108,000 35.000 1 432000 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 Gond 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, 1973 was $45,860 of which $20,000 represented Bond Principal, $25,800 Bond Interest and $60 the paying Agents fees. PUBLIC UTILITY FUND As of June 30, 1973, the Retirement Fund for the January 1, 1962 Revenue Bonds has no balance, the interest due July 1, 1973 having been advanced to the collection agent in June, 1973. The Reserve Fund has a balance of $59,581. Its required amount of 20% of the amount placed into the Retirement Fund is $63,312. As of June 30, 1973 and 1972, the Public Utility Fund accounts receivable aging is as follows: 0 - 30 days 30 - 60 days 60 - 90 days Over 90 days JUNE 30, 1973 JUNE 30, 1972 $16,935 71.79°% 3,782 16.03% 709 3.01°% 2,163 _9.17% $18,703 68.91% 5,850 21.56% 593 2.18% 1,996 7,35°% $23, 589 100.00% S 27s 142 100.00% 19 CITY OF MOAB Grand County, Utah PUBLIC UTILITY FUND, Cont'd. For the 12 months ending June 30, 1973 and 1972, the water consumed were as follows: CONNECTIONS July August September October November December January February March April May June 1972- 1971- 1973 1972 1,264 1,247 1,252 1,248 1,243 1,220 1,241 1,200 1,236 1,186 1,236 1,200 1,242 1,217 1,243 1,217 1,265 1,215 1,258 1,228 1,247 1,221 1,240 1,221 INCREASE (DECREASE) 17 4 23 41 50 36 25 26 50 30 36 19 Water consumption decreased 3,798 gallons from nection, per month for the previous period, to The income varied afollows: ANNUAL AVERAGE PER CONNECTION Water Sewer Water Sever Income Income Income Income Per Connection Per Connection Per 1,000 Gallons Per 1,000 Gallons of Water OTHER STATISTICAL SUMMARIES connections and gallons GALLONS CONSUMED IN 1972- 1971- 1973 1972 47,189 27,540 17,315 7,895 12,472 16,897 16,770 16,432 29,612 52,691 55,302 56,856 356,971 58,476 36,125 30,320 21,506 13,676 14,364 15,751 15,751 31.965 47,018 58,089 61,182 404,223 THOUSANDS INCREASE (DECREASE) (1 1 , 237) (8,585) (13,005) (13,611) (1,204) 2,533 1,019 681 (2,353) 5,673 (2,787) (4,326) (47,252) an average of 27,649 gallons per con- 23,851 gallons for the current period. YEAR ENDED JUNE 30, 1973 1972 $ 99.60 49.29 0.3479 0.1722 $108.75 49.66 0.3277 0.1496 INCREASE (DECREASE) (9.15) (.37) 0.0202 0.0226 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, 1973 1972 $234,331 $211,085 246,971 170,316 18,728 9►699 1973 INCREASE AMOUNT $ 23,246 76,655 9,029 (DECREASE) C/fl 1 1 .01% 45.01% 93.09% 20