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Home My Public Portal About1976-1977 Auditi Notes to Financial Statements Insurance Coverage & Surety Bonds in Force Statistical Summaries INDEX Accountant's Report 1 Combined Balance Sheets, June 30, 1977 Assets 2 Liabilities 3 Capital Projects Funds Balance Sheets, June 30, 1977 4 Trust & Agency Funds Balance Sheets, June 30, 1977 5 General Fund, 12 Months Ended June 30, 1977 Revenues & Expenditures 6 Special Assessment Funds, 12 Months Ended June 30, 1977 Revenues & Expenditures 10 Special Assessment Funds, 12 Months Ended June 30, 1977 Cash Receipts & Disbursements 11 Capital Projects Funds, 12 Months Ended June 30, 1977 Cash Receipts & Disbursements, and Fund Balances 12 Bond Redemption & Interest Fund, 12 Months Ended June 30, 1977 Revenues & Expenditures Trust & Agency Funds, 12 Months Ended June 30, 1977 Cash Receipts & Disbursements 13 14 Trust & Agency Funds, Fund Balances 15 Public Utility Fund, 12 Months Ended June 30, 1977 Income & Expense 16 Statement of Changes in Financial. Position 17 Cash Receipts & Disbursements i8 Bond & Interest Maturities All Funds 19 20 21 23 50 EAS �" CENTER ST. MOa UTAH 84532 Ronald, . ur er CERTIFIED PUBLIC ACCOUNTANT June 10, 1978 Honorable Mayor & City Council City of Moab Moab, Utah 84532 Gentlemen: Telephone {801 } 259-7883 We have examined the Balance Sheets of the funds listed below of the City of Moab, Moab, Utah as of June 30, 1977 and as applicable the related Statements of Revenues, Expenditures, and Fund Balances, Cash Receipts and Disbursements and Statements of Changes in Financial Position for the year then ended. General Fund Special Assessment Funds Capital Projects Funds Bond Redemption and Interest Fund Public Utility Fund Trust and Agency Fund. Except as explained in the following paragraph our examina- tion 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 considered ne- cessary in the circumstances. The Financial Statements of the City of Moab for the year ended June 30, 1976 were examined by other auditors whose report dated February 25, 1977 expressed an unqualified opinion as to their fairness. The historical records of the land, buildings, and equipment are that the property of the City will the future and values individually General Fixed Assets for the incomplete. It is anticipated be inventoried at sometime in assigned to each item. In our opinion the accompanying Balance Sheets and Statements of Revenues, Expenditures and Fund Balances, Cash Receipts and Disbursements, and Statement of Changes in Financial Position, pre- sent fairly the financial condition of the funds listed above of the City of Moab as of June 30, 1977, and the results of 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. Very truly yours, l�/�[dC�C l GC CSC; L Ronald L. Auger Certified Public Accountant CITY OF MOAB Grand County, Utah MEMORANDUM SPECIAL ,A3'LTAL REDEMPTION TRUST & RJBLIC GENERAL' BONDED ONZY GENERAL ASSESSMENT ,BQrECTS & INTEREST AGENCY UTILITY FIXED DEBT & 'ASSETS TOTAL FUND FUNDS VI,JDDS FUND FUNDS FUND ASSETS INTEREST COMBINED BALANCE SHEETS A11 Funds - June 30, 1977 BOND GENERAL Cash On Hand & In Banks $ 517,183 $ 234,883 $ 25,264 po- $ 48,371 ,$ 194,688 $. 13,977 Accounts & Notes Receivable Water & Sewer 31,084 31,084 Special Assessments 45,702 45,702 Other 29,699 6,471 ,23,228 Notes Receivable 1,024 1,024 Due From Other Funds 99,277 58,135 ,41,142 Total Receivables 206,786 7,495 103,837 64,370 31,084 Amounts to Be Provided For Future 822,807 Fixed Assets Land 93,084 Building & Structures 546,421 Improvements Other Than Building & Structures 2,374,745 Machinery & Equipment 189,838 Automobiles & Trucks 121,704 Office Furniture & Equipment 68,399 Accumulated Depreciation (608,949) Net Fixed Assets 2,785,242 TOTAL ASSETS $4,332,018 $ 242,378 $ 129,101 -0- $ 822,807 71,207 $ 21,877 356,967 189,454 2,277,440 97,305 73,179 116,659 19,235 102,469 38,255 30,144 (608,949) 2,227,334 557,908 48,371 $ 259,058 $2,272,395 $ 557,908 $ 822,807 2 CITY OF MOAB Grand County, Utah LIABILITIES, RESERVES & SURPLUS Liabilities Accounts & Contracts Payable Matured Interest Payable Payroll Taxes & Withholdings Payable Due to Other Governmental Units Due to Oth..r�Funds Customer Deposits Notes Payable Bonds Payable Bond Interest Payable In Future Years Total Liabilities Contributions Municipal Federal Other Total Contributions Reserve for Bond Retirement MEMORANDUM ONLY • TOTAL $ 12,755 18,862 22,411 5,215 41,142 22,873 40,000 1,098,O00 224,807 1,486,065 897,998 265,666 25o,342 1,414,006 22,472 GENERAL FUND $ 5,215 6,113 11,328 SPECIAL ASSESSMENT - IUNDS $ 10,028 130,000 140,028 Surplus Invested in General Fixed Assets 557,908 Retained Earnings 381,455 Fund Balances (Deficit) 470,112 231,050 (10,927) Total Surplus TOTAL LIABILITIES, RESERVES & SURPLUS 1,409,475 231,050 (10,927) $4,332,018 $ 242,378 $ 129,101 CAPITAL PROJECTS FUNDS BOND REDEMPTION & INTEREST FUND -0- $ 48,371 -0- -0- 48,371 TRUST & AGENCY FUNDS $ 22,411 35,029 57,440 201,618 COMBINED BALANCE SHEETS A11 Funds - June 30, 1977 PUBLIC UTILITY FUND $ 2,727. 18,862 22,873 40,000 370,000 454,462 897,998 265,666 250,342 1,414,006 22,472 381,455 201z618 381,455 GENERAL FIXED ASSETS 557,908 557,908 GENERAL BONDED DEBT & INTEREST $ 598,000 224,807 822,807 $ 48,371 $ 259,058 S 2,272,395 $ 557,908 $ 822,807 3 CITY OF MOAB Grand County, Utah ASSETS Cash in Banks TOTAL ASSETS LIABILITIES & FUND BALANCES Liabilities Fund Balances TOTAL LIABILITIES & FUND BALANCES TOTAL CAPITAL PROJECTS FUNDS Balance Sheet June 30, 1977 • SLICK ROCK MILLCREEK PROJECT BRIDGE -0- -O- -0- -0- -0- -0- -0- w0- -0- -0- -0- -0- -0- -0- -0- The accompanying notes are an integral part of these Financial, Statements. 4 CITY OF MOAB Grand County, Utah TRUST &, AGENCY FUNDS Balance Sheets June 30, 1977 FEDERAL REVENUE COLLECTOR SHARING ROAD .EMPLOYEE TOTAL FUND FUND BENEFITS ASSETS Cash in Banks $194,688 $172,862 $ 15,736 $ 6,o9O Available Revenues Not Yet Received 23,228 23,228 Due from Other Funds 41,142 6,113 18,708 16,321 TOTAL ASSETS $259,058 $202,203 $ 34y444 $ 22,411 LIABILITIES & FUND BALANCES LIABILITIES Accrued Payroll Taxes - Retire- ment Contributions & nsurance Premiums $ 22,E-11 Due to Other Funds 35,029 35,029 . Total Liabilities 57;44o FUND BALANCES 201,618 167,174 34 444 TOTAL LIABILITIES'& FUND BALANCES $259,058 $202,203 $ 34,444 $ 22,411 22,E-11 22,411 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures 12 12 MONTHS ENDED JUKE 3O, 1977 MONTHS ACTUAL ENDED BETTEH JUNE 30, (WORSE) REVENUES 1976 ACTUAL BUDGET BUDGET Property Taxes $137,323 $152,818 $152,000 $ 818 Sales Taxes 165,087 214,215 164,000 50,215 Franchise Taxes 7,200 9,528 7,200 2 328 License & Permits Gross Business Licenses 84,487 98,042 87,800 10,242 Other Business Licenses 7,068 8,534 7,500 1,034 Beer Licenses 3,300 2,750 3,500 ( 750 ) Building & Construction Permits 7,074 7,084 5,000 , 2,084 Other Licenses & Permits 2,004 T1,830 2.,200 ( 370 ) Total Licenses & Permits 103,933 118,240 106,000 12,240 Intergovernmental Revenue Federal & State Grants 24,560 43,253 41,700 1,553 Class "C" Road Fund Allotment 13,692 28,175 13,982 14,193 Liquor Fund Allotment 9,050 .- 9,050 9,000 50 Total Intergovernmental. Revenue 47,302 80,478 64,682 15,796 Charges For Services Special Services by City Departments 8,135 7,512 7,500 12 Refuse Collections 84,065 101,896 102,000 ( 104 ) Swimming Pool 10,482 10020 9,000 1,020 Total Charges For Services 102,682 119,428 118,500 928 Fines, Forfeitures & Penalties 30,369 46,835 32,000 14,835 Revenue From The Use of Money & Property Other Revenues Sale of Real or Personal Preperty Sundry Total Other Revenues TOTAL REVENUES 528 8 887 8,887 114 18 •1,500 ( 1,482 ) 853 118 .- 118 967 136 1,500 ( 1,364 ) $595,391 $750,565 $645z882 404,683 CITY OF MOAB Grand County, Utah r, EXPENDITURES GENERAL GOVERNMENT Administrative Personal Services Materials, Supplies & Services Other Charges Capital Outlays Total. Administrative Municipal Court. Personal. Services Materials, Supplies & Services Capital Outlays Total Municipal Court Elections Material, Supplies & Services Total Elections Total General Government PUBLIC SAFETY Police Department Personal Services Materials, Supplies & Services Capital Outlays Total Police Department Alcohol Enforcement Personal Services Materials, Supplies & Services Total Alcohol Enforcement Inspection Department Personal Services Materials, Supplies & Services Total Inspection Department .12 MONTHS ENDED • ' JUNE 30, 1976 GENERAL FUND Revenues-& Expenditures 12 MONTHS END wD .3UNE 30 , .1977 ACTUAL BETTER (WORSE) ACTUAL BUDGET BUDGET $ 30,027 $ 41,192 $ 39,884 $ (1,308 ) 31,586 36,010 37,10o 1,090 3,251 6,424 7,500 1,076 1,885 984 1,0oo- 16 66 749 84,610 85,484 874 25,387 32,832 37,432 4,600 3,282 3,579 3,38o ( 199 ) 150 28,819 36 411 4o,812 4 401 1,384 1384 96,95? 12a_ 021 126,296 61,804 66,993 69,529 19,417 19,521 22,666 6,132 13,802 15,000 87,353 100,316 107,195 10,718 13,397 12,917 3,429 2,561 3,999 14,147 15,958 16,916 5,275 2,536 3,145 1,198 6,879 ( 480 ) 1,438 958 10,795 11,694 12,007 313 2,400 2,565 2,goo 335 $ 13,/95 $ 14,259 $ 14,907 $ 648 7 CITY OF MOAB GENERAL FUND Grand County, Utah Revenues & Expenditures EXPENDITURES, Cont'd. Dog Pound Personal Services Materials, Supplies & Services Total Dog Pound - Total Public. Safety 12 12 MONTHS ENDED JUNE 3o, 1977 MONTHS ACTUAL ENDED BETTER JUKE 30, (WORSE) 1976 ACTUAL EUDGET BUDGET 8,o70 $ 11,753 3,497 3,836 11,567 15,589 '26,262 146,122 S 12,012 5,400 17,412 156,430 . 259 1 z.564 1,823 19,308 PUBLIC WORKS Street & Highway Department (Including Class "C" Road Fund) Personal Services 33,773 42,004 44,329 2,325 Materials, Supplies & Services 56850 45;513 73,975 28,E+62 Total Street & Highway Department 90,623 87,517 111/1 30,787 Waste Collection Materials, Supplies & Services 86,832 106,8°9 108,8o0 1,991 Total Waste Collection 86,832 106,809 22 ^800 1,991- Flood Control Materials, Supplies & Services 43 448 1,500 1,052 Total Flood Control 43 448 l ^50o lam_ Total Public Works 177,498 194,774 228,604 33,830 PARKS & RECREATION Parks Personal Services Materials, Supplies & Services Capital Outlays Total. Parks 7,901 8,157 16,058 8,723 9,360 637 7,494 8,875 1,381 1,607 (1,607 ) 17 824 $ 18,235 $ 411 8 Total Miscellaneous Total Expenditures EXCESS OR (DEFICIENCY) OF REVENUE OVER EXPENDITURES CITY OF MOAB GENERAL FUND Grand County, Utah .Revenues & Expenditures r, Total Swimming Pool EXPENDITURES, Cont'd 12 12 MONTHS ENDED JUKE 30, 1977 MONTHS ACTUAL ENDED BETTEE JUNE 30, (WORSE) 1976 ACTUAL BUDGET BUDGET Swimming Pool Personal Services $ 11,815 $ 14,091 $ 14,385 $ 294 Materials, Supplies & Services 10,367 22,850_ 23,100 . 250 Capital Outlay -0- -0- 16,000 16,000 22 ,182 36,941 53, 485 16, 544 Total Parks & Recreation 38,240 54 765 71,720 16,955 MISCELLANEOUS Contributions 14,019 20,094 20,650 556 Contribution to Other Funds 53,000 3.1.,222 132,Oo0` 778 67,019 151,316 152,65o 1,334 505,971 667,99$ 735,700 67,702 89,420 82,567 ( 89,818 ) 172,385 Unappropriated Surplus - July 1 59,063 148,483 130,944 17,539 7MAPPROPRIATED SURPLUS - JUNE 30 5148,483 S231, 050 $ 41,126 489,924 CITY OF MOAB Grand County, Utah SPECIAL ASSESSMENT FINDS Cash Receipts & Disbursements 12 MONTHS ENDED TUNE 30, 1977 SPECIAL IMPROVE- MENT .DISTRICT DISTRICT GUARANTEE TOTAL # 3 # 4 FUND. Cash Balance - July 1, 1976 $ 36,000 $ 7,965 $ --0- $ 28,035 Receipts Special Assessments Collected Citizens 16,752 13,256 3,496 General Fund 14,100 14,100 Property Taxes Interest & Penalties on Assessments 5,741 �5 7741 Total Receipts 36,593. 33,o97 3,496. - Total Cash Balance & Receipts 72,593 41,062 3,496 28,035 Disbursements Bonds Redeemed 28,000 28,000 Interest on Bonds . 9,015 9,015 Assessment Property Improve- ments 10,314 10,314 Total Disbursements 47,329 37,015 10,314 CASH BALANCE - JUNE 3o, 1977 $ 25,264 $ 4 o47 $ (6,818) $ 28,035 The accompanying notes are an integral part of these Financial Statements. 11 CITY OF MOAB Grand County, Utah CA ITAL PROJECTS FUNDS Cash Receipts & Disbursements And Fund Balances .12 MONTHS ENDED JUNE 30, 1977 SLICKROCK ,,MILLCREFK .TOTAL PROJECT BRIDGE Cash Balance - July 1, 1976 $ 71,861 $ 53,927 $ 17,934 Receipts Federal Grants 22,500 22,500 Total Receipts 22,500 22,500 -0- Total Cash Balance & Receipts 94,361 76,427 17,934 Disbursements Transfers to Collector Road 17,934 17,934 Personal Services 52,565 52,565 Special Departmental Suuplies ' 3,773 3,773 Rent of Property & Equilinent 8,505 8,505 Professional & Technical Services 11,584 11,584 Total Disbursements 94,361 76,427 17,934 CASH BALANCE - JUNE 3o, 1977 -o- -o- -o- Excess or (Deficit) of Cash Receipts over Disbursements (71,861) {53,927} (17,934) Fund Balance - July 1, 1976 71,861 53,927 17,934 FUND BALANCE - JUNE 30, 1977 $ -0- $ -0- $ -o- The accompanying notes are an integral part of these Financial Statements. 12 a CITY OF MOAB Grand County, Utah CAPITAL PROJECTS FUNDS Cash Receipts & Disbursements And Fund Balances 12 MONTHS ENDED JUNE 30, 1977 SLICKROCK .MILLCRMK .TOTAL PROJECT BRIDGE Cash Balance - July 1, 1976 $ 71,861 $ 53,927 $ 17,934 Receipts Federal Grants 22,500 22,500 Total Receipts 22,500 22,500 -0- Total Cash Balance & Receipts 94,361 76,427 17,934 Disbursements Transfers to Collector Road 17,934 17,934 Personal Services • 52,565 52,565 Special Departmental Suuplies 3,773 3,773 Rent of Property & Equipment 8,505 8,505 Professional & Technical Services 11,584 11,584 Total Disbursements 94, 361 76427 17,934 CASH BALANCE - JUNE 30, 1977 -O- -O- -0- Excess or (Deficit) of Cash Receipts Over (71,861) (53, 927) 0-7,934) Fund Balance - July 1, 1976 71,661 53,927 17,934 FUND BALANCE - JUNE 30, 1977 $ -0- $ -O- $ -o- Disbursements The accompanying notes are an integral part of these Financial Statements. E 12 CITY OF MOAB Grand County, Utah BOND REDEMPTION & INTELiEST FUND Revenues & Expenditures ,12 MONTHS ENDED BETTER JUNE 30, (WORSE) 1976 ACTUAL BUDGET BUDGET 12 MONTHS ENDED DUNE 30, 1977 ACTUAL REVENUES Transfers From Other Funds $ 43,450 $ 74,567 $ 71,146 $ 3,421 Interest Income 670 786 786 Total Revenues 44,120 75,353 71,146 4207 EXPENDITURES Bond Agent Fees 80 65 10o 35 Matured Bonds 2/1/56 Series 5,000 5,000 5,000 1/1/59 Series 20,000 25,000 25,000 Matured Interest 2/1/56 Series 1,995 1,807 1,807 - 1/1/59 Series 1,400 500 500 -- 1/1162 Series 22,000 22,000 22,000 Total Expenditures ,50,475, 54,372 54,467 35 EXCESS OR (DEJ'ICIENCY) OF REVENUES OVER EXPENDITURES (6,355) 20,981 16,739 4,242 Unappropriated Surplus - Beginning of Fiscal Year 33,745 27,390 (16,739) 44,129 UNAPYROPRIA'IED SURPLUS - END OF FISCAL YEAR $ 27,390 $ 48,371 -0- $ 48,371 The accompanying notes are an integral part of these Financial Statements, 13 CITY OF MOAB TRUST & AGENCY FUND Grand County, Utah - Cash Receipts & Disbursements 12 MONTHS ENDED DUNE 30, 1977 FEDERAL REVENUE SHARING COLLECTOR EMPLOYEE 70TAL FUND ROAD FUND BENEFITS CASH BALANCE - .]ULY 1, 1976 $125,177 $104,719 �� 2,431 $ 18,027 Receipts Transfers From Other Govern- mental Units 52,962 35,029 17,933 Federal Revenue Sharing 90,075 90,075 Collector Road Fund 22,894 22,894 Earnings on Investments 7,907 5,875 2,o32 Payroll, Deductions & Cont- ributions by Moab City, Slick Rock. & City Employ- ees394,495 394,495 Total Receipts 568,333 130,979 42,859 394,495 Total Cash Balance & Receipts 693,510 235,698 45,290-12,522 Disbursements Transfers to Other Funds 41,141 6,113 18,707 16,321 Capital Outlays Water .& Sewer 30,917 30,917 Administration 960 960 Police Department 13,802 13,802 Parks 1,344 1,344 Grand Valley Fire Protection District 7,200 7,200 Golf Course 2,500 2,500 Transfer to Capital Project 10,8�+7 Fund - Mill Creek Bridge 10,847 Payroll, Taxes, Employee Insurance, Retirement & Savings Deposits 390111 390,111 Total Disbursements 498,822 6_ 2 836 297554 406,432 . CASH BALANCE - JUNE 30, 1977 $194,688 $172,862 $ 15,736 $ 6,090 The accompanying notes are an integral part of these Financial Statements. l� CITY OF MOAB Grand County, Utah 12 MONTHS (MEMO ONLY) TOTAL TRUST & AGENCY FUNDS Fund Balances ENDED JUNE 30, 1977 Excess of Cash Receipts Over Disbursement $ 81,448 Add Increase in Accounts Receivable Excess of Revenues Over Expenditures Fund Balance _ July 1, 1976 FUND BALANCE - JUNE 30, 1977 9,358 90,806 127,133 $217,939 .FEDERAL REVENUE SHARING FUND $ 68,143 ,358 77,501 124,702 $202,203 COLLECTOR ROAD FUND $ 13,305 13,305 2 431 $ 15,736 15 fi ay/ OF MOAB PUBLIC UTILITY FUND Grand County, Utah Income & Expense 4 12 MONTHS ENDED JUKE 30, 1976 JUKE 30, 1977 AMOUNT AMOUNT INCOME Water Sales $129,585 63.31 $146,782 63.11 Sewer Service Charge 65,184 31.85 71,730 30.84 Interest 7,241 3.54 ' 2,797 . 1.20 Other Charges 2,658 1.30 11,275 4.85 Total Income 204 668 100.00 232,584 100.00 EXPENSE Personal Services 78,575 38.39 101,187 43.50 Materials, Supplies & Service Subscriptions & Memberships 106 Ordinances & Publications 31 0.02 66 Travel 325 0.16 1,822 .79 Office Expense & Supplies 2,727 1.33 4,716 2.04 Equipment Expense 14,301 6.99 23,785 10.24 Building & Ground Expense 16,399 8.01 21,927 9.44 Special Departmental. Supplies 7,289 3.56 13,031 5.61 Rentals 1,211 0.59 2,010 .87 Professional & Technical 8,$91 4.34 10,607 4.57 Total Materials, Supplies & Services 51,174 25.00 78,070 33.56 Other Charges Bad Debts 135 0.07 39 _ Insurance & Surety Bonds 1,649 0.81 2,309 •99 Depreciation 36,705 17.93 39,742 17.09 Interest on Bonds Revenue 16,596 8.11 16,023 6.89 General Obligations 23,400 11.43 22 500 9.69 Total Other Charges 78,485 38.35 80,613 34.66 Total Expense 208,234 101.74 259.870 111.72 NET INCOME ( 3,566) ( 1.74) (27,286) (11.72) Transfer (to) or from Reserve for Bond Retirement ( 1,200) ( 1,272) Net Credits to Earned Surplus ( 4,766) (28.,558) Earned Surplus - Beginning of Period 414,779 410,013 VED SURPLUS - END OF PERIOD $4l_ 0 01133 $381,455 The accompanying notes are an integral part of these Financial Statements. 16 CITY OF MOAB Grand County, Utah SOURCES OF FUNDS Net income For the Year Items not Requiring Current Outlay of Funds; Depreciation Contributions in Aid to Construction Contributions Federal Revenue Sharing Water & Sewer Connection Fees Increase Long Term Debt Decrease In Working Capital TOTAL FUNDS AVAILABLE APPLICATION OF FUNDS Additions to Plant & Equipment Payment of Long -Term Debt General Obligation Bonds Revenue Bonds Increase In Bond Retirement TOTAL FUNDS APPLIED ELEMENTS OF INCREASE OR (DECREASE) IN WORKING CAPITAL . Cash Receivables Decrease in Accrued Interest Receivable Accounts Payable Customer Deposits Increase eInterest Payableent Fund NET CHANGE IN WORKING CAPITAL PUBLIC UTILITY FUND Statement of -Changes in Financial Position ;12 MONTHS ENDED TUNE .30, 1976' 1977 $( 3,566) $(27,286) 36,7o5 39,742 90,o0o - 30,917 19,968 21,999 -o- 4o,000 21,576 154,721 $ 74,683 $350,093 $ 40,483 $309,821 20,000 25,000 13,000 14,000 1,200 1,272 $. 74,683 $350,093 $(24,521) $(142,6o8) 2,795 8,7o3 ( 3,390) - - 6,715 1,330 ( 1,975) ( 2,012) (: 1,200) 18,8,2) $(21,576) $i154�721) INCREASE (iToREASE ) $ (223' 74) 3,037 . 9o,000 30,917 2,031 4o,000 • 133.14-5 $275,410 $269,338 5,000 1,000 72 $275 , 410 $(118,o87) 5,908 3,390 ( 5,385) ( 37 ) 18,8M $(133,1451 The accompanying notes are an integral part of these Financial Statements. 1; pionmEm- CITY OF MOAB PUBLIC UTILITY FUND Grand County, Utah Cash Receipts.& Disbursements CASH BALANCE - JULY 1 (BEGINNING OF YEAR) 12 MONTHS ENDED TUNE 30, 11976 1977 $181,1o6 s156,585 Receipts Customers' Deposits - Net . _1,92,013 ,013 75 90,000 2 Contributions - Municipal 13 Contributions - Federal -0- 30,917 Contributions - Other 19,968 21,999 Loan Payable - Water Development -0- 40,000 Water & Sewer Service Charges 191,974 209,770 Interest 10,497 2,797 Suiadry Revenues 2,657 11,275 Total Receipts 227,071 408,771 Total Cash Balance & Receipts 4o8,177 5652356 Disbursements , 9,830 117058 Improvements to Sewer & Water System 22,269 117,058 Water Development 584 Machinery & Equipment 6,359 30,638 Office Furniture & Equipment 2,025 542 Principal 1/1/62 Revenue Bond Series 13,000 14,000 Principal 1/1./59 General Obligation Bond 20,000 325,000,822 Expense Personal Services 78,575 101,187 Materials, Supplies & Services 57,889 79,400 Insurance & Surety Bonds 1,649 2,309 Interest On Bonds - Revenue 16,596 -8,161 Interest On Bonds - General Obligation 23,E+00 11,500 Total Disbursements 259_ CASH BALANCE - JUNE 30 (END OF YEAR) $156,585 551,379 13,977 The accompanying notes are an integral part of these Financial Statements. 18 i ciTY OF MOAB Grand County, Utah BOND & INTEREST MATURITIES --All Funds FISCAL YEAR ENDED JZJIVE 30 1977 19_ � 1979- GNNERA.L OBLIGATIONS Series 2/1/56 5 .,000 5,000 7,000 Principal. Payment to be Made ,000 36,000 1,807 ,00 Principal- Outstanding - End of Year 1�1000 �+3,0 1,00 Interest Payments to be Made 808 ,18$ 1,732 Unmatured Interest -.End of Year Series 1/1/59 (See Note) 25,000 - Principal Payment to be Made 0_ _ 5- Principal. Outstanding - End of Year -- Interest Payments to be made _0 Unmatured Interest - End of Year Series 1/1/62 (See Note) -0- 20�0{}0 20,000 Principal Payment to be Made 0 0- 530,000 51.0,000 Principal Outstanding - End of Year 55 20 800 Interest Payments to be Made 22,000 21,600 220 000 19$,�00 177,b00 Unmatured Interest - End of Year ' REVENUE BONDS Series 1/1/62 1 000 15,000 15,000 Principal Payment to be Made 000 35 ,000 Principal Outstanding - End of Year 370,000 355,000 10,000 16,023 114,769 Interest Payments to be Made - 150 $75 135,�69 Unmatured Interest - End of Year > SPECIAL IMPROVEMENT Series 6/1/71 28,000 30,000 32,000 Principal Payment to be Made Principal Outstanding - End of Year 130,000 100,000 6$ 000 , 7,�+75 5,750 Interest Payments to be Made 9,015 717 ,675,750 Unmatured1 Interest - End of Year 9, i 19 CITY OF MOAB NO'EBS TO FINANCIAL STATEMENT Grand County, Utah -All Funds Note 1 - BASES OF ACCOUNTING - The accounting policies of the City of Moab conform to generally accepted accounting principles as applicable to Governmental Units. The General Fund and all other funds, except the Public Utility Fund, are on the modified cash basis of accounting applied on a basis consistent with prior years. Equipment and other Capital Outlay expenditures are simultaneously capitalized at cost in the General Fixed Asset group of accounts. Principal and interest on General Bonded Debt are recorded as expenditures in the Debt Service Fund. Simultaneously, the liability in the General Bonded Debt Fund is reduced, when paid. The Public Utility Fund is on a full accrual basis of accounting. Note 2 BOND PAYMENTS - 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 actually be due on July 1 are shown as made daring the last month of the previous year. Note 3 PUBLIC UTILITY FUND TRANSFER - 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 Ob- ligations Bond Series, (the proceeds of these Bond Series having been contributed to the Public Utility Fund for construction purposes). Note 4 CAPITAL PEOJECTS FUNDS - A11 balance sheet items show "0" amounts as balances as the projects were complete in FYE 6/30/77. Note 5 DUE TO OR FROM OTHER FUNDS - Some of the monies of the various funds are pooled into one large investment at higher interest rates and some of the amounts shown in these accounts indicate the amount due to or from the various funds for their proportionate share of these investments. 20 CITY OF MOAB Grand County, Utah Western Surety Co. Limit $10,000 Bond # 2302655 Western Surety Co. Limit $10,000 Bond # 2258301 Lumbermen's Mutual Casualty Co. Limit $100,000 Western Surety Co. Limit $10,000 Bond # 2247938 Lumbermen's Mutual Insurance Co. Limit of Liability - $5,000 Total Limit - $750,000 . Fidelity & Deposit Co. of Maryland Paymaster System Check Alteration Coverage Policy # 78P12845 Northwestern National Insurance Co. Comprehensive General Liability B I $300,000/$300,000 P D $ 50,000/$ 50,000 Comprehensive Auto Liability B I $100,000/$300,000 p D $ 50,000 Personal Injury Liability P I $100,000/$300,000 Errors or Omissions Liability E 0 $ 50,000/$ 50,000 P1P Endorsement - Coverage G-1 Utah Automobile No -,Fault Insurance Act INSURANCE COVERAGE & SURETY BONDS IN FORCE June 30, 1977 Administrator - Recorder Bond Premium $35.00 4/6/77 to 4/6/78 Asst. City Recorder Bond Premium $35.00 1/1/77 to 12/31/77 Treasurer's Bond Policy # 55-273-969 Premium $221.00 2/1/75 to 1/1/78 Deputy Treasurer's Bond Premium $40.00 7/16/76 to 7/16/77 Public Employees Blanket Bond 1/2/77 - 1/2/80 Policy # 7S-.284-815 Premium $159.00 City of Moab Officers Checkwriter Bond Limit $15,000 1/16/77 to 1/16/79 Annual Premium $2,412.00 1/2/77 to 1/2/78 Policy # CLA. 76-13-16 Additional Coverage is contracted with each piece of equipment subsequently acquired 21 CITY OF MOAB Grand County, Utah 4 Firemens' Fund Insurance Co. & Valley Forge Insurance Co. Fire and Extended Coverage on Building and Personal Property Not including Flood 90% Coinsurance - $100 Deductible Each Location - Each Occurance American Motorists Limit $100,000 Policy # 5101-33-526 The Utah State Insurance Fund Limits - By Law Premium. Rate - .0155 Premium Rate - .0218 Calculated on Payroll For Premium - Quarterly TNSU ANCE COVERAGE & SURETY BONDS IN FORCE June 30, 1977 Locations Total $300,000 Blanket Coverage Annual Premium $774.00 1/2/77 - 1/2/80 Policy- # FAM 100-00-57 General Boiler & Machinery Annual Premium $63.00 1/2/75 to 1/2/78 Policy # M0797 Workmen's Compensation Street or Road Maintenance Municipal Employees 22 CITY OF MOAB Grand County, Utah GENERAL FUND Revenues increased $155,174 or 26% for the fiscal year ending June 30, 1977, as follows: STATISTICAL SUMMARIES REVENUES Property Taxes Sales Taxes Franchise Taxes Licenses & permits Fines:, Forfeitures & Penalties Revenues From Use of Money & Property Intergovernmental Revenue Charges for Services Other Revenue TOTAL REVENUES . FISCAL YEAR ENDED JUKE 30, 1977 $152,818 214,215 9,528 118,24o 46,835 8,887 80,478 119,428 136 750,565 The 1% sales tax collected by the State of Utah for increased 29.8% compared to an increase of 75.0 for SALES TAX REVENUE ( PERIOD FOR WHICH COLTRCTED ) Prior Calendar Year 2nd Quarter 3rd Quarter 4th Quarter Current Calendar Year 1st Quarter TOTAL INCREASE 1976 (DECREASE) $137,323 $ 15,E-95 165,087 49,128 7,200 2,328 103,933 14,307 30,369 16,466 528 359 47,302 33,176 102,682 16,746 967 (831) 595,391 155,174 the year ended June 30, 1977 the prior period. FISCAL YEAR ENDED JUNE 30, 1977 1976. $ 51,401 54,759 53,326 54,729 $214,215 INCREASE (DECREASE) $ 30,215 $ 21,186 45,538 9,221 45,210 8,116 44,124 la,6o5 $165,o87 $ 49 128 23 CITY OF MOAB Grand County, Utah Expenditures increased 162,027 EXPENDITURES - DEPARTMENTAL Administrative Department Municipal Court Elections Police Department Alcohol Enforcement Inspection Department Dog Pound Street & Highways Waste Collection Flood Control Park. Department Swimming Pool Contributions Transfer to Other Funds TOTAL EXPENDITURES EXPENDITURES - CLASSIFICATION Personal Services Materials, Supplies & Services Other Charges Capital. Outlays Transfers to other Funds TOTAL GENERAL FUND EXPENDITURES STATISTICAL SUMMARIES GENERAL FUND, Cont'd. or 32% as follows: FI S CAL YEAR ENDED JUNE 30, INCREASE 1977 1976 DECREASE $ 84,610 $ 66,749 J7,%•1 . 36,411 . 28,819 7,592 - 1,384 (1,384) 100,3167,353 12,963 15,958 14,147 1,811 14,259 13,195 1,o64 15,589 11,567 4,a22 87,517 90,623 (3,106) 1°6,809 86,832 19,977 448 43 4o5 17,824 16,o58 1,766 36,941 22,182 14,759 2o,o94 14,a19 6,075 131,222 53,00o 78,222 $667,998 $505,971 $162,027 FISCAL YEAR ENDED JUKE 30, 1977 1976 $242,679 $200,290 251,186 227,244 26,518 17,270 16,393 8,167 131,222 53,000 $667,998 $505,971 1977 INCREASE (DECREASE) AMOUNT o $ 42,389 23,942 9,248 8,226 78 222 $162,027 21.16 1o.54 53.55 loo.72 147.59 32.02 24 r CITY OF MOAB Grand County, Utah STATISTICAL SUMMARIES SPECIAL ASSESSMENT FUNDS The Special Improvement Fund through June 30, 1977 has made expenditures of $301,824 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, of which $58,135 remained unpaid at June 30, 1977. 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, 1977 was $47,550 of which $25,000 represented Bond Principal, $22,500 Bond Interest, and $50 for Bond Agent Fees. PUBLIC UTILITY FUND As of June 30, 1977, the Retirement Fund for the January 1, 1962 Revenue Bonds has no balance, the interest due July 1, 1977 having been advanced to the collection agent in June, 1977. The reserve Fund has a balance of $22,472. As of June 30, 1977 and 1976, the Public Utility Fund accounts receivable aging is as follows: 0 - 30 days 30 - 60 days 60 - 90 days Over 90 days JUUNE 30, 1977 JUNE 30, 1976 $ 23,169 77.78 $ 18,977 84.79 6,259 21.01 3,091 13.81 197 .66 163 .73 165 .55 150 .67 $ 29,790 100.0o $ 22,381 100.00 25 OF MOAB d County, Utah �r�° PUBLIC UTILITY FUND, Cont'd. mrthe 12 months ending June 30, 1977 and. 1976, the water 100 consumed were as follows: 4 CONNECTIONS GALLONS INCREASE 1976 1977 1976 (DECREASE) 1977 1,329 1,287 42 53,5oo 58,635 ogle1,358 1,295 63 41,384 57,577 septet 44,642 46,835 September 1,360 1,305 55 October 1,363 1,303 6o 29,717 36,059 19,296 15,868 November 1,376 1,312 64 16,486 13,622 December l2 400 January 1,384 1,313 71 16, 535 , February 1,381 1,306 75 19,971 15,962 March 1,370 1,327 43 17,371 14,157 April 1,390 1,338 52 3o,185 24,582 Nay 1,393 1,336 57 29,969 31,206 June 1,406 1,354 52 41 905 45,131 3 ob ,9� 372,o34 Water consumption decreased 3,804 gallons from an average of 23,560 gallons per month for the previous period, to 21,898 gallons varied as 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 connections in STATISTICAL SUMMARIES use and gal - CONSUMED IN THOUSANDS 1975 INCREASE 1976 (DECREASE) ( 5,135 ) (16,193 ) ( 2,193 ) ( 6,342 ) 3,428 2,864 4,135 4,009 3,214 5,6a3 ( 1,237 ) ( 3,226 ) (11,073.) per connection, for the current period. The income YEAR ENDED JUNE 30, 1977 1976 $1o6.20 $ 98.48 $ 51.90 $ 49.54 0.4066 o.3483 0.1987 .0.1752 INCREASE (DECREASE) 7.72 2.36 0.0583 0.0235 OTHER Expenditures in similar categories for both hith categories: General Fund and the Public utility Fund increased or (decreased) i 12 MONTHS ENDED JUNE 30, 1977 1976 EXPENDITURES CLASSIFICATION Personal Services Materials, Supplies & Services Other Charges $344,688 $278,865 329,2.56 278,418 28,866 19,054 1976 INCREASE AMOUNT $ 65,823 50,838 9,812 (DECREASE) o° 23.60 18.26 51.50 v 0 s c�ypfi e• e- ti°i _ `)� ?(k 3 � (0v\ qk' (63 21 '3� v6 cr-P, �� 2 o ' �, 603 1 (2� `)tip 311/ A. � 2 ��ti k il.' l/ c coP, 2 C�e '.'4 s a Qv 5� ��31 29 � „ CITY OF MOAB MOAB, UTAH REPORT ON EYA.MINA.TION June 30, 197T 12 Months Ended June 30, 1977 Ronald c.e.- H'uger CERTIFIED PUBLIC ACCOUNTANT 50 E. CENTER MOAB, UTAH 84532