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Home My Public Portal AboutAudit 1983-1984CITY OF MOAB Grand County, Utah REPORT ON EXAMINATION June 30, 1984 & Twelve Months Ended June 30, 1984 CITY OF MOAB Grand County, Utah INTRODUCTORY SECTION CITY OF MOAB TABLE OF CONTENTS Grand County, Utah INTRODUCTORY SECTION Table of Contents Letter of Transmittal 1 FINANCIAL SECTION General Purpose Financial Statements: Auditor's Report 2 Combined Balance Sheet - All Fund Types & Account Groups 4 Combined Statement of Revenues, Expenditures & Changes in Fund Balance - All Governmental Fund Types & Expendable Trust- Funds 6 Combined Statement of Revenues, Expenditures & Changes in Fund Balances - Budget & Actual - All Governmental Fund Types 7 Combined Statement of Revenues, Expenses & Changes in Retained Earnings/Fund Balance - Enterprise Fund Water & Sewer Utility 8 Combined Statements of Changes in Financial Position - Enterprise Fund Water & Sewer Uitlity 9 Notes to Financial Statements 10 Combining & Individual Financial Statements: General Fund: Analysis of Budget - Revenues 16 Analysis of Detail Revenues - Budget & Actual 17 Analysis of Budget - Expenditures 19 Statement of Expenditures & Comparison With Budget 20 Analysis of Expenditures 22 Capital Projects Fund Statement of Revenues, Expenditures & Comparison With Budget 24 Enterprise Fund Water/Sewer Utility: Statement of Cash Receipts & Disbursements & Comparison With Budget 25 Statement of Changes in Fixed Assets 26 Special Assessment Funds: Combined Balance Sheet 27 Statement of Changes in Fund Balance 28 Statement of Cash Receipts & Disbursements 29 Statement of Changes in General Fixed Assets 30 Schedule of Changes in Bonds Payable 31 TABLE OF CONTENTS CITY OF MOAB Grand County, Utah STATISTICAL SECTION General Fund Revenues By Source & General Fund 32 Expenditures By Department 33 General Fund Expenditures By Object 34 Assessed Valuation, Taxes Levied & Collected 35 Summary of Long -Term Debt Service To Maturity Enterprise Fund Water/Sewer Utility: Annual Average Per Connection & Aging of 36 Receivables 37 Active Accounts & Gallons Used REVENUE SHARING Accountant's Report 38 'kat of tile C,,tillicaklandi City of Moab 150 EAST CENTER STREET • MOAB, UTAH 84532 • 801-259-5121 THOMAS A. STOCKS, MAYOR - RAYMOND E. PENE, RECORDER - SHARREN S. REES, DEPUTY RECORDER - LYNDA MOORE, TREASURER ROSS LEECH, UTILITIES SUPERINTENDENT - DANIEL K. ISON, POLICE CHIEF - SOHN KEOGH, CITY ENGINEER COUNCILMEN: SHELDON L. HEFNER, WILLIAM D. McDOUGALD, WILLIAM J. MURPHY, EDWARD T. NEAL, TERRY WARNER December 17, 1984 City Council Members 150 East Center Street Moab, UT 84532 Councilmen: The annual financial report of examination of the City of Moab, Grand County, Utah for the fiscal year ended June 30, 1984 is submitted herewith. In accordance with the laws of the State of Utah, the annual audit of the accounts, records, and financial statements has been completed, and the independent auditor's report has been included herein. Also included are the audited financial statements with supporting schedules and footnotes and the tabulation of the City's assets. This information presents the financial activities and condition of the City for the fiscal year ended June 30, 1984. The comments and alternative procedures recommended by our independent auditor, David R. Adkison, Certified Public Accountant, are being instituted by the staff in areas pointed out. I feel that upon completion of these, the City will be operating within the best possible framework as required by our State Auditor's office. The preparation of this report could not have been accomplished without the efficient and dedicated services of our entire staff. I should like to express my appreciation to all members of the staff who assisted and contributed to its presentation. I should also like to thank the members of the City Council for their interest and support in planning and conducting the financial operation of the City in a responsible manner. TAS:ji Respectfully submitted, e7711r. Thomas Stocks Mayor CITY OF MOAB Grand County, Utah FINANCIAL SECTION CITY OF MOAB Grand County, Utah GENERAL PURPOSE FINANCIAL STATEMENTS David R. Adkison C.P.A. 471 South Main #2 P.0 Box 728 Moab, Utah 84532 (801 )259 7924 Honorable Mayor and Members of The City Council City of Moab I have examined the general purpose financial statements of the City of Moab and its combining and individual fund financial statements as of and for the year ended June 30, 1984, as listed in the Table of Contents. The 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 I con- sidered necessary in the circumstances. The City under went substantial staff changes during the fiscal year ended June 30, 1984. During this period many of the functions of the administrative, financial and accounting departments were not completed or became materially delinquent. Budgetary procedures and controls, financial reporting, filing and documentation systems, internal controls and other areas were severely hindered. The general books were out -of -balance and required material adjustment as of June 30, 1984, including reconstruction of certain accounts. The City Council and administration is aware of the situation, and has received management comments and recommendations through the audit process. Progress has been made and is evident in the accounting process currently being used for the new fiscal year. However, it is imperative that the Council monitor the systems and insist on adhearance to good accounting policy, internal controls, state man- dated budget procedures and financial fiscal responsibility. In my opinion, the general purpose financial statements referred to above present fairly the financial position of the City of Moab at June 30, 1984, and the results of its operations and the changes in financial position of its proprietary fund types and similar trust funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the pre- ceding year. Also, in my opinion, the combining and individual fund financial state- ments referred to above present fairly the financial position of the individual funds of the City of Moab at June 30, 1984, their results of operations, and the changes in financial position of individual proprietary funds for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. 2 Honorable Mayor and Members of The City Council City of Moab Page 2 The examination was made for the purpose of forming an opinion on the general pur- pose statements taken as a whole and on the combining and individual fund financial statements. The accompanying financial information listed as Statistical Section in the Table of Contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements of the City of Moab. The information has been taken from the current and several prior years' audit re- ports and subjected to certain review procedures and, in my opinion, is fairly stated in all material respects in relation to the combined financial statements taken as a whole. The financial information included herein for comparative purposes from the fiscal year ended June 30, 1983 is taken from the annual report on examination for that year, prepared by Claus and Adkison, Certified Public Accountants. Their report, dated October 14, 1983, stated in their opinion the financial statements included therein fairly represented the financial position, changes in financial position and results of operation for the fiscal year ended dune 30, 1983, in conformity with generally accepted accounting principles applied consistently. December 12, 1984 David R. Adkison 3 CITY OF MOAB Grand County, Utah ASSETS Net Cash in Bank Restricted Cash - Road Funds Restricted Cash - Bond Sinking Accounts Receivable Special Assessments Receivable Due From Other Funds Due From Other Governmental Units Land Buildings Improvements Other Than Buildings Machinery & Equipment Autos & Trucks Office Furniture & Fixtures Accumulated Depreciation Amount Available For Payment of Bonds Amount To Be Provided for Payment Of Bonds TOTAL ASSETS PROPRIETARY FUND GOVERNMENTAL FUND TYPES TYPES SPECIAL DEBT CAPITAL ASSESS- TRUST & GENERAL_ SERVICE PROJECT MENTS ENTERPRISE AGENCY $ 15,373 COMBINED BALANCE SHEET ALL FUND TYPES & ACCOUNT GROUPS June 30, 1984 FIDUCIARY FUND TOTALS TYPES ACCOUNT GROUPS (MEMORANDUM ONLY) GENERAL GENERAL FIXED LONG-TERM JUNE 30, JUNE 30, ASSETS DEBT 1984 1983 $133,732 $37,309 $21,517 $27,310 76,629 $ 31,700 4,160 51,548 1,024 6,303 84,781 115,871 77,496 1,180,476 2,425,033 117,680 30,709 26,476 (1,265,159) S 56,877 541,164 613,841 327,192 224,509 112,655 $ 235,321 $1,215,471 76,629 201,560 31,700 31,700 55,708 46,053 7,327 8,290 84,781 115,871 134,373 1,721,640 3,038,874 444,872 255,218 139,131 (1,265,159) $ 37,389 37,389 362,611 1,212 29,927 128,084 1,267,975 2,672,270 384,240 225,169 97,499 (1,165,5231 71,389 362,611 358,611 $416,197 $37,389 $21,517 $33,613 $ 2,675,959 $ 15,373 $1,876,238 $ 400,000 $5,476,286 3A 573.927 The accompanying notes are an integral part of these financial statements. p CITY OF MOAB Grand County, Utah LIABILITIE5, RESERVES Accounts aya e Due To Other Funds Accrued Payroll Taxes & Employee Withholding Deposits Payable Interest Payable Bonds Payable Total Liabilities Reserve For Bond Retirement Total Reserves Contributions - Municipal Contributions - Federal Contributions - Other Total Contributions Reserved Fund Balances - Road Funds Revenue Sharing Appropriated Unappropriated Statutory Restricted Retained Earnings Investment In General Fixed Assets Total Fund Balances/Retained Earnings TOTAL LIABILITIES, CONTRIBUTIONS, & RESERVES, FUND BALANCE/RETAINED EARNINGS GOVERNMENTAL FUND TYPES DEBT CAPITAL ASSESS - TRUST & GENERAL SERVICE PROJECT MENTS ENTERPRISE AGENCY PROPRIETARY FIDUCIARY FUND FUND TYPES TYPES $ 23,932 $ 8,000 $ 2,530 23,932 8,000 2,530 76,629 187,517 26,667 101,452 29,389 18,937 $33,613 $ 2,586 84,781 $ 15,373 30,076 5,334 251,000 373,777 �15,3373 31,700 31,700 1,074,392 325,268 750,499 2,1� 90,199 COMBINED BALANCE SHEET ALL FUND TYPES & ACCOUNT GROUPS June 30, 1984 ACCOUNT GROUPS l;f RERAL FIXED LONG-TERM JUNE 30, ASSETS DEBT 1984 1983 TOTALS (MEMORANDUM ONLY) JUNE 30, $ 29,048 $ 33,255 84,781 1,212 15,373 30,076 13,334 $ 400,000 651,000 400,000 823,612 31,700 31,700 1,495 28,490 700,000 764,452 31,700 31,700 1,074,392 1,026,744 325,268 325,268 750,999 _ 544,564 2,150,159 1,896,576 76,629 187,517 26,657 101,452 81,989 120,323 201,560 221,058 170,026 56,696 546,128 254,072 $1,876,238 1,876,238 1,49 1,699 1,8- 76 238 2,470,815 2,a_ 81,199 3g- 9,9(5 29,389 18,987 33,613 9.20,923 ��- 21 517 $33,613 _2 675,959 _� 11373 $1,8_ 96 298 14- OO J20 5 4� $6 5 5� $416,197 3��389 -- The accompanying notes are an integral part of these financial statements- 120,323 cn CITY OF MOAB Grand County, Utah REVENUES axes Licenses & Permits Intergovernmental Revenue Charges For Services Fines & Forfeitures Miscellaneous Revenues Total Revenues EXPENDITURES ;IFIFFarTOWrnment Public Safety Highways & Public Improvements Parks, Recreation & Public Property Conservation & Economic Development Intergovernmental Expenditures Debt Service Principal Retirement Interest & Fees Outlays For Improvements Total Expenditures Excess of Revenues Over (Under) Expenditures Fund Balance - July 1 Transfer of Unexpended Project Fund Balance FUND BALANCE COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES & EXPENDABLE TRUST FUNDS For The Year Ending June 30, 1984 FIDUCIARY TOTALS FUND (MEMORANDUM ONLY) TYPESYEAR ENDED GOVERNMENTAL FUND TYPES S E t L l$q ly$3 SERVICE PROJECTS ASSESSMENTS TRUSTY GENERAL f $ 574,112 180,544 187,757 256,099 11,331 4,620 83,967 1,293,810 4,620 243,129 480,078 599,177 158,672 17,900 55,247 30,000 16,620 __________ 1,554,203 (260,393) 649 , 340 !' 3,318 1392 265 1_ 24_„3°9 g87 $� 33 13 $ 24,276 $ - 2,494 24,276 2�,494 2,651 442,940 46,620 (42,000) 71,389 The accompanying notes are an integral part of these financial statements. 445,591 (421,315) 443,620 (3,318) -0- 2,494 31,119 0- $ 574,112 180,544 187,757 256,099 11,331 115,357 1,325,-200 243,129 480,078 601,828 601,612 17,900 55,247 30,000 16,620 2,04� 6,414 (721,214) 1,195,468 $ 603,618 173,009 345,587 253,846 39,978 1244185 1,540,223 283,920 539,548 436,578 107,196 24,953 160,207 30,000 17,840 3,030 1,603,272 (63,049) 1,258,517 �195,468 Cri CITY OF MOAB Grand County, Utah COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES Fiscal Year Ended June 30, 1984 TOTALS (MEMORANDUM ONLY) GENERAL FUND DEBT SERVICE FUND CAPITAL PROJECTS FUND VARIANCE SPECIAL ASSESSMENT FUNDS VARIANCE VARIANCE VARIANCE VARIANCE FAVORABLE FAVORABLE FAVORABLE FAVORABLE FAVORABLE (UNFAVOR- (UNFAVOR- {UNFAVOR- (UNFAVOR- (UNFAVOR- BUDGET ACTUAL ABLE} BUDGET ACTUAL ABLE) BUDGET ACTUAL ABLE) BUDGET ACTUAL ABLE) BUDGET g[TIIAL AR1F1 REVENUES axTie�s- $ 540,500 $ 574,112 $ (16,388) $ 590,500 $ 574,112 $ i16,388) Licenses & Permits 167,250 180,549 13,294 797,25O 180,514 13,294 Intergovernmental 83,577 187,757 104,180 83,577 187,757 104,180 Charges For Services 252,000 256,099 4,099 252,Upp 256,099 4,099 Fines & Forfeitures 35,000 11,331 (23,669) 35,OOp ]1,331 (23,669) Miscellaneous 63,200 83,967 20,767 $ 5,000 $ 4,620 $ (380) $ 16,657 $ 24,276 $ 7,609 $ 2,494 $ 2,444 84,86J 115,357 30,490 Total Revenues EXPENDITURES General Government Public Safety Highways & Public Improvements Parks, Recreation & Public Property Conservation & Economic Development Intergovernmental Expenditures Retirement of Bands Interest on Bonds Bond Agent Fees 1,197,527 1,293,810 102,283 5,000 4,620 (380) 16,667 24,276 7,609 $ -0- 2,494 2,494 1,213,194 1,325,200 112,006 240,458 243,129 (2,671) 551,394 480,078 71,321 638,656 599,177 39,479 142,097 158,672 (16,575) 22,700 17,900 4,800 60,397 55,247 5,150 240,458 243,129 (2,671) 551,399 480,078 71,321 7,237 2,651 4,586 645,893 601,828 44,065 451,029 442,440 8,089 593,726 601,612 (8,486) 22,700 17,400 4,800 60,397 55,247 5,150 30,000 30,000 30,000 30,000 16,600 16,600 16,600 16,600 100 20 8C 100 20 80 Total Expenditures 1,655,707 1,554,203 101,504 46,700 46,620 Excess of Revenues Over (Under) Expenditures Fund Balances July 1, 1983 Transfer of Unexpended Project Fund Balance FUND BALANCES - June 30, 1984 80 458,266 445,591 12,675 -0- -O- -0- 2,160,673 2,046,414 114,259 (464,180) (260,393) 203,787 (41,700) (42,000) (300) (441,599) (421,315) 20,284 -0- 2,494 2,494 (947,4791 (721,214) 226,265 648,178 649,340 1,162 71,389 71,389 443,266 443,620 354 -0- 31,119 31,119 1,162,833 1,195,468 32,635 3,318 3,318 (3,318) (3,318) $ 183,998 $ 392,265 $ 208,267 $ 29,689 $ 29,389 $ _3001 $ 1,667 L 78 987 $ 17,320 L__=0_ $ 33,613 $ 33,513 $ 215,354 $ 474,254 $ 258,900 The accompanying notes are an integral part of these financial statements. CITY OF MOAB Grand County, Utah COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS/FUND BALANCES - ENTERPRISE FUND WATER AND SEWER UTILITY OPERATING REVENUE Dater Sales Sewer Service Charges Total Operating Revenue YEAR ENDED JUNE 30 1-984 1983 201,671 $ 200,244 169,350 165,250 371,021 365,494 OPERATING EXPENSES Salaries, Wages & Benefits 268,066 242,694 Materials, Supplies & Services: Equipment Supplies & Maintenance 24,185 29,402 Travel 650 1,428 Office Expense & Supplies 2,484 3,790 Building Supplies & Maintenance 522 1,264 Rent of Equipment 239 459 Professional Services 17,351 12,159 Utilities & Telephone 24,543 29,410 Special Departmental Supplies 28,234 14,938 Water Purchases 59,500 52,500 Other Charges: Insurance & Surety Bonds 369 6,247 Bad Debts 705 Depreciation 100,626 87,103 Total Operating Expenses 526,769 482,099 OPERATING (LOSS) (155,748) (116,605) Add Non -Operating Income: Interest Earnings on Investments 19,233 36,608 Other 13,837 13,534 Total Non -Operating Income Deduct Non -Operating Expenses: Interest on Bonds NET (LOSS) Retained Earnings July 1, RETAINED EARNINGS JUNE 30, 33,070 50,142 11,071 (11,878) (133,749) (78,341) 254,072 332,413 $ 120,323 $ 254,072 The accompanying notes are an integral part of these financial statements. 8 CITY OF MOAB Grand County, Utah SOURCES OF FUNDS Net (Loss) From Operations Items Not Requiring Working Capital - Depreciation Working Capital Provided By Operations (Deficit) Interest Earnings On Investments Interest on Bonds Contributions From Revenue Sharing Adjustment To Accumulated Depreciation Retirement of Assets (Book Value) Contributions From Customers - Water/Sewer Connections Other Non -Operating Income Total Sources of Funds APPLICATION OF FUNDS Additions to Land, Buildings, Equipment & Improvements Retirement of Debt Total Application of Funds (DECREASE) IN WORKING CAPITAL VARIOUS ELEMENTS OF NET CHANGE IN WORKING CAPITAL Cash Accounts Receivable Accounts Payable Due to Other Funds Customer Deposits Interest Payable (DECREASE) IN WORKING CAPITAL COMBINED STATEMENTS OF CHANGES IN FINANCIAL POSITION - ENTERPRISE FUND WATER AND SEWER UTILITY YEAR ENDED JUNE 30, T984 1983 $ (155,748) 100,626 (55,122) 19,233 (11,071) 47,648 (990) 205,935 13,837 219,470 514,292 19,000 533,292 $ (313,822) $ (240,987) 5,495 13,371 (84,781) (1,586) (5,334) $ (313,822) $ (116,605) 87,103 (29,502) 36,608 (11,878) 10,406 312 6,479 13,534 25,959 115,811 19,000 134,811 $ (108,852) $ (116,122) (2,265). 7,786 1,749 $ (108,852) The accompanying notes are an integral part of these financial statements. INCREASE (DECREASE) $ (39,143) 13,523 (25,620) (17,375) 807 37,242 (990) (312) 199,456 303 193,511 398,481 398,481 $ (204,970) $ (124,865) 7,760 5,585 (84,781) (3,335) (5,334) $ (204,970) 9 CITY OF MOAB NOTES TO FINANCIAL STATEMENTS Grand County, Utah NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of the City of Moab, Grand County, Utah conform to generally accepted accounting principles as applicable to governmental units. The following is a summary of the more significant policies: (1) Basis of Presentation - Fund Accounting The accounts of the City are organized on the basis of funds or account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self -balancing accounts that comprise its assets, liabilities, reserves, fund balance, revenues, and expenditures. The various funds are summarized by type in the financial state- ments. The following fund types and account groups are used by the City. GOVERNMENTAL FUNDS: General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs. Capital Project Funds - Capital Project Funds are used to account for financial resources to be used for the acquisition or con- struction of major capital facilities (other than those financed by proprietary funds, special assessment funds, and trust funds). Special Assessment Funds - Special Assessment Funds are used to account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied. PROPRIETARY FUNDS: Enterprise Funds - Enterprise Funds are used to account for opera- tions (a) that are financed and operated in a manner similar to private business enterprises - where the intent of the governing body is that the costs (expense, including depreciation) of pro- viding goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic deter- mination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. 10 CITY OF MOAS NOTES TO FINANCIAL STATEMENTS Grand County, Utah FIDUCIARY FUNDS: Trust and Agency Funds - Trust and Agency Funds are used to ac- count for assets held by the City in a trustee capacity or as an agent for individuals, private organizations, other governmen- tal units, and/or other funds. These include expendable, non - expendable, and pension trust and agency funds. Nonexpendable and pension trust funds are accounted for and reported as proprie- tary funds since capital maintenance is critical. Expendable trust and agency funds are accounted for and reported as governmental funds. ACCOUNT GROUPS: General Fixed Assets Account Group - This group of accounts is established to account for all fixed assets of the City, other than those accounted for in the proprietary funds and trust funds. General Long Term Debt Account Group - This group of accounts is established to account for all long-term debt of the City except that accounted for in the proprietary funds, trust funds, and special assessment funds. (2) Basis of Accounting The modified accrual basis of accounting is followed by the gov- ernmental funds and expendable trust and agency funds. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Examples would be the July receipt of sales and use taxes and Revenue Sharing entitlement. Expenditures, other than interest on long-term debt, are recorded when the liability is incurred. In applying the susceptible to accrual concept to intergovern- mental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended on the specific purpose or project before any amounts will be paid to the City; therefore, revenues are recog- nized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and nearly irrevocable, i.e., revocable only for failure to comply with pre- scribed compliance requirements, e.g., equal employment oppor- tunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the available criterion. 11 CITY OF MOAB NOTES TO FINANCIAL STATEMENTS Grand County, Utah Basis of Accounting (Continued) Licenses and permits, charges for services, fines and forfeitures, and miscellaneous revenues (except investment earnings) are re- corded as revenues when received in cash because they are gen- erally not measurable until actually received. Investment earnings are recorded as earned since they are measurable and available. Special assessments are recorded as revenues in the year the assessments are levied, even if payments are made in annual in- stallments. Annual installments not yet payable are reflected as special assessment receivables. The full accrual basis of accounting is utilized by proprietary funds and pension and nonexpendable trust funds. (3) INVESTMENTS At June 30, 1984 and for the year then ended, the only invest- ments owned were deposits at local banks, Utah State Treasury and government secured mortgages (GNMA). These investments have been included in "Net Cash in Bank" for reporting purposes at June 30, 1984. (4) Inventory The City of Moab does not maintain an inventory amount on its financial statements. Although a certain supply of expendable supplies is on hand, the cost of maintaining an accurate inventory accounting system would far outweigh the stewardship achieved by such a system. (5) General Fixed Assets General fixed assets have been acquired for general governmental purposes. Assets purchased are recorded as expenditures in the governmental funds and capitalized at cost in the general fixed assets account group. Contributed fixed assets are recorded in general fixed assets at fair market value at the time received. (6) Fund Combinations the revenues, expenses, cash balances and fund balances as of June 30, 1984 and the fiscal year then ended for the Road Funds have been combined with the General Fund for reporting purposes. The Revenue Sharing Fund has also been completely combined with the General Fund for the same fiscal period. The handling of the road fund monies is consistent with prior years. However, in years prior to the year ended June 30, 1982 only the Revenue Sharing actual expenditures were included in the General Fund. Also in prior years, the Revenue Sharing fund was shown, in full, as a trust and agency fund. 12 CITY OF MOAB Grand County, Utah NOTES TO FINANCIAL STATEMENTS Fund Combinations (Continued) The change in reporting procedures reflects current changes in generally accepted accounting principles and also procedures sug- gested by the State of Utah Audicor. These procedures attempt to show the full range and responsibility of an organization's general fund by combining as many activities as practical under the general fund "umbrella". The funds are accounted for on a separate basis throughout the year, and are combined only for annual reporting and budget procedures. NOTE B POOLED CASH The City of Moab follows a "pooling of cash" policy, in which all of the cash accounts held by the Treasurer at the local banks are main- tained in as few checking accounts as possible. This method enables the City to free -up cash for investing in interest -bearing deposits, and has greatly increased the earnings on investments. The cash -in -bank account shown for each fund is actually each fund's respective share of the pooled cash. The earnings on the investments are allocated to the respective funds on a monthly basis. NOTE C INVESTMENTS The City held $339,502 in interest bearing accounts at June 30, 1984, representing 99 percent of its cash balances. Of the invested amount $287,832 was invested in federally backed mortgage securities under the GNMA program. GNMA investments are in accordance with the State Money Management Act and are recommended in the Utah Municipal Trea- surer's handbook. GNMA securities are fully insured and collectible if held to maturity. However, the market value of the principal amount invested is interest sensitive and therefore fluctuates inversely to the market interest rate. At June 30, 1984 the approximate market value of the GNMA security owned by Moab City was $242,139 according to the brokerage firm of Prudential-Bache. The fluctuating value would only be a measure of the investment if the security would be sold before maturity. No valuation adjustment has been booked as of June 30, 1984. NOTE D SPECIAL ASSESSMENTS All of the special assessment #3 receivables are delinquent as of June 30, 1984. Collection policies are vague and inoperative, and certain problems exist as to the exact interest and penalty rates assessable by the City. The extent of uncollectible assessments is not determinable at this time; therefore, the problems noted have been brought to the City Council's attention, with the recommendation that the matter be referred to legal counsel to establish the City's proper position on interest, penalties, and collection. 13 CITY OF MOAB NOTES TO FINANCIAL STATEMENTS Grand County, Utah NOTE E COMPUTER PURCHASE The City purchased a Burroughs computer during the fiscal year ended June 30, 1981. The purchase price will be paid in installments over four years. Only the amounts that have been paid to date have been included in the general fixed assets, and no liability has been re- corded on the books for any outstanding balance. NOTE F FIXED ASSETS The City has completed the first phase of an extensive fixed asset inventory. The staff compiled information sheets on each asset, noting date of acquisition; cost of acquisition; description of the asset; and whether or not Revenue Sharing monies were involved. These lists were matched with actual observations of the assets, and were also matched, where possible, with supporting schedules. The fixed asset schedules are not fully complete and exhaustive. How- ever, they do contain support documentation for materially all of the capitalized costs remaining on the City' s books at June 30, 1984 as adjusted. Certain capitalized amounts were not completely sup- ported, but portions of these did have minute references, legal title descriptions, etc. evidencing the City's ownership. Additional re- search will be needed to fully expand the fixed asset schedules, in detail, to itemize the remaining acquisition blocks. Adjustments were made to the fixed asset accounts, accumulated depre- ciation accounts and retained earnings account in the Enterprise Fund. The major portion of the adjustments was to update the accumulated depreciation accounts through June 30, 1982. Additional adjustments may be necessary in the future, as the research into the remaining blocks of acquisitions determines. No adjustments were made to the General Fixed Assets, as support documentation obtained to date indicated the capitalized costs were materially correct. However future research may determine adjustments are necessary. NOTE G BOND PAYMENTS The City of Moab normally transfers the bond principal and interest payments to the paying agents prior to the respective due dates. In accordance with this policy, the City transfers the funds covering the July 1 liabilities on or before June 30, and reflects the payments in the fiscal year ended on that June 30. The July 1, 1984 interest payments were not actually paid in June, 1984. However, these install- ments were accrued into the 1983/84 year to remain consistent with the past and with the anticipated future. 14 CITY OF MOAB NOTES TO FINANCIAL STATEMENTS Grand County, Utah NOTE H CAPITAL PROJECTS The City completed the construction of a new municipal swimming pool during the spring of 1984. The construction costs were paid mostly out of the Capital Projects Fund reserve set aside for the pool pro- ject. Cost and budget overages were encountered. The entire pool pro- ject reserve was depleted, with an additional S13,420 being paid out of the General Fund. The General Fund did not have an approved budget for this expenditure. The City transfered $100,000 to Grand County as a contribution to a community center building. The balance in this capital project re- serve was transfered to the General Fund ($3,318). NOTE I ACCOUNTS RECEIVABLE The Enterprise Fund accounts receivable includes $6,725 representing a summary judgement in favor of the City. The receivable is fully enforceable by the City, but collection is not likely in the near future. The City's rights will be maintained and the receivable will remain on the books until collected. NOTE J ENTERPRISE FUND LOAN The Enterprise Fund (water and sewer utility) borrowed a net $84,781 from the General Fund during the 1983/84 fiscal year. The Utility constructed an expansion to its sewer plant, which project caused a substantial cash outflow. The City Council is aware of the cash shortage and is reviewing the Utility's situation. NOTE K DUE FROM OTHER GOVERNMENTAL UNITS The amount shown as due from other governmental units includes $28,679 of revenue sharing entitlements, $80,889 of Utah sales taxes, and $6,303 from local units. These monies were due to be received by the City by June 30, 1984 but were delayed. NOTE L CONTINGENT LIABILITIES The City is not aware of any contingent liabilities that would ma- terially affect the financial statements at June 30, 1984. 15 CITY OF MOAB Grand County, Utah COMBINING AND INDIVIDUAL FINANCIAL STATEMENTS CITY OF MOAB Grand County, Utah TAXES General Property Taxes General Sales & Use Taxes Franchise Taxes GENERAL FUND ANALYSIS OF BUDGET - REVENUES For The Year Ended June 30, 1984 ADOPTED ADJUSTED ADJUSTED FINAL BUDGET BY BY PUBLIC BUDGET 7/1/83 RESOLUTION HEARING 6/30/84 $ 150,500 $ (10,000) 410,000 40,000 Total Taxes 600,500 LICENSES & PERMITS Business Licenses & Permits Non -Business Licenses & Permits Total Licenses & Permits INTERGOVERNMENTAL REVENUE Federal Shared Revenue State Shared Revenue Total Intergovernmental Revenues CHARGES FOR SERVICES General Government Sanitation Parks & Public Property Total Charges For Services FINES & FORFEITURES Fines Total Fines & Forfeitures 155,250 12,000 $ 140,500 410,000 40,000 (10,000) 590,500 155,250 12,000 167,250 167,250 29,927 29,927 53,650 53,650 83,577 83,577 17,000 220,000 15,000 17,000 220,000 15,000 252,000 252,000 35,000 35,000 35,000 35,000 MISCELLANEOUS Interest 60,000 60,000 Rents 3,000 3,000 Sales & Compensation for Loss of Fixed Assets 200 200 Total Miscellaneous TOTAL REVENUES 63,200 63,200 $1,201,527 $ (1L000) $1,191,527 The accompanying notes are an integral part of these financial statements. 16 CITY OF MOAB Grand County, Utah TAXES General Property Taxes - Current Prior Years' Taxes - Delinquent Total Property Taxes General Sales & Use Taxes Franchise Taxes Total Taxes LICENSES & PERMITS Gross Business Licenses Flat Business Licenses Beer Licenses Total Business Licenses Building & Construction Permits Other licenses & Permits Total Non -Business Licenses & Permits Total Licenses & Permits INTERGOVERNMENTAL REVENUE Federal Revenue Sharing Total Federal Shared Revenue Court Administrator Total State Grants State Liquor Fund Allotment Road Fund Allotments Total State Shared Revenue Total Intergovernmental Revenue CHARGES FOR SERVICE Special Services By City Departments Total General Government Sanitation - Refuse Collection Charges Parks & Public Property - Swimming Pool Fees Total Charges For Services (Continued) GENERAL FUND ANALYSIS OF DETAIL REVENUES BUDGET & ACTUAL Year Ended June 30, 1984 BUDGETED ACTUAL $ 135,000 5,500 140,500 410,000 40,000 $ 136,619 13,617 150,236 386,590 37,286 590,500 574,112 VARIANCE FAVORABLE (UNFAVOR- ABLE) $ 1,619 8,117 9,736 (23,410) (2,714) (16,388) 145,000 159,301 14,301 7,000 7,715 715 3,250 3,000 (250) -115,250 170,016 14,766 -T0 ,000 871-49- (-1 , 85T) 2,000 2,379 379 12,000 10,528 -(1,4M 167,250 180,544 13,294 29,927 115,966 29,927 115,966 5,801 5,801 10,776 55,214 65,990 3,650 50,000 53,650 83,577 187,757 17,000 14,810 17,000-1-471-0- 220,000 216,912 15,000 24,377 252,000 256,099 The accompanying notes are an integral part of these financial statements. 86,039 g6,039 5,8 T 5,30� 77126 5,214 12,34a 104,180 (2,190) (2,19-0.) (3,088) 9,377 4,099 17 CITY OF MOAB Grand County, Utah FINES & FORFEITURES Fines, Forfeitures & Penalties Total Fines, Forfeitures & Penalties GENERAL FUND ANALYSIS OF DETAIL REVENUES BUDGET & ACTUAL (Continued) Year Ended June 30, 1984 VARIANCE FAVORABLE (UNFAVOR- BUDGETED ACTUAL ABLE) $ 35,000 $ 11,331 $ (23,669) 35,000 11,331 (23,669) MISCELLANEOUS Interest Earnings On Investments 60,000 52,218 (7,782) Rents 3,000 3,000 Sale & Compensation for Loss of Fixed Assets & Materials 200 6,825 6,625 Insurance Claim 18,000 18,000 Other 3,924 3,924 Total Miscellaneous 63,200 83,967 20,767 TOTAL REVENUE $1,191,527 $1,293,810 $ 102,283 The accompanying notes are an integral part of these financial statements. 18 CITY OF MOAB Grand County, Utah GENERAL FUND ANALYSIS OF BUDGET - EXPENDITURES Year Ended June 30, 1984 ADOPTED ADJUSTED ADJUSTED FINAL BUDGET BY BY PUBLIC BUDGET 7/1/83 RESOLUTION HEARING 6/30/84 GENERAL GOVERNMENT City & Precinct Courts $ 2,050 $ 1,000 $ 3,050 Central Staff Agencies 14,070 6,000 20,070 Administration Agencies 153,605 12,000 165,605 Buildings 42,233 42,233 Other 9,500 9,500 Total General Government 221,458 PUBLIC SAFETY Law Enforcement Protective Inspection Other Protective 478,590 48,259 57,550 Total Public Safety 584,399 HIGHWAYS & PUBLIC IMPROVEMENTS Highways Sanitation Total Highways & Public Improvements 392,656 246,000 19,000 240,458 (23,000) (10,000) 455,590 38,259 57,550 (33,000) 551,399 392,656 246,000 638,656 638,656 PARKS RECREATION & PUBLIC PROPERTY Parks 48,744 Swimming Pool 34,623 Recreation 45,730 Total Parks, Recreation & Public Property 129,097 CONSERVATION & ECONOMIC DEVELOPMENT Economic Development Conservation 13,000 48,744 47,623 45,730 13,000 142,097 5,900 1,000 6,900 15,800 15,800 Total Conservation & Economic Development 21,700 INTERGOVERNMENTAL EXPENDITURES Contributions to Other Governmental Units Contributions to Other Funds Total Intergovernmental Expenditures TOTAL EXPENDITURES 1,000 22,700 2,000 2,000 58,397 58,397 60,397 60,397 $1,655,707 $ -0- $1,655,707 The accompanying notes are an integral part of these financial statements. 19 CITY OF Moab Grand County, Utah GENERAL GOVERNMENT City & Precinct Court Central Staff Agencies Administration Agencies Buildings Election Planning Total General Government PUBLIC SAFETY Law Enforcement - Police Protective Inspection Animal Control Flood Control Total Public Safety HIGHWAYS & PUBLIC IMPROVE- MENTS Highway - General Highway - Road Funds Sanitation Total Highway & Public Improvements PARKS, RECREATION & PUBLIC PROPERTY Parks Swimming Pool Recreation & Culture Total Parks, Recreation & Public Property CONSERVATION & ECONOMIC DEVELOPMENT Contributions to Other Organizations Total Conservation & Economic Development GENERAL FUND STATEMENT OF EXPENDITURES & COMPARISON WITH BUDGET YEAR ENDED DUNE 30, 1984 BUDGET ACTUAL VARIANCE FAVORABLE (UNFAVOR- ABLE) $ 3,050 $ 2,907 $ 143 20,070 19,785 285 165,605 169,008 (3,403) 42,233 48,745 (5,512) 1,500 2,241 (741) 8,000 443 7,557 240,458 243,129 (2,671) 455,590 391,343 38,259 35,923 54,350 52,621 3,200 191 64,247 2,336 1,729 3,009 551,399 480,078 71,321 1983 ACTUAL PRIOR YEAR $ 43,555 13,717 180,664 44,952 930 102 283,920 455,053 45,246 38,198 1,051 539,548 208,956 172,241 36,715 194,401 183,700 194,986 (11,286) 5,338 246,000 231,950 14,050 236,839 638,656 599,177 39,479 436,578 48,744 47,623 45,730 42,985 67,909 47,778 142,097 158,672 22,700 17,900 22,700 17,900 5,759 (20,286) (2,048) 47,660 33,364 26,172 (16,575) 107,196 4,800 24,953 4,800 24,953 (Continued) The accompanying notes are an integral part of these financial statements. 20 CITY OF MOAB Grand County, Utah GENERAL FUND STATEMENT OF EXPENDITURES & COMPARISON WITH BUDGET (Continued) YEAR ENDED JUNE 30, T3$4 1983 VARIANCE FAVORABLE ACTUAL (UNFAVOR- PRIOR BUDGET ACTUAL ABLE) YEAR INTERGOVERNMENTAL EXPENDITURES Contributions to Other Government Units $ 2,000 $ 2,000 $ 800 Contribution on Bus 5,600 5,600 Contributions to Other Funds 52,797 47,547 $ 5,150 159,407 Total Intergovernmental Expenditures 60,397 55,247 5,150 160,207 TOTAL EXPENDITURES $1,655,707 $1,554,203 $ 101,504 $1,552,402 The accompanying notes are an integral part of these financial statements. 21 CITY OF MOAB Grand County, Utah GENERAL GOVERNMENT City & Precinct Court Central Staff Agencies Administration Agencies Buildings Other Total General Government PUBLIC SAFETY Law Enforcement - Police Protective Inspection Flood Control Animal Control Total Public Safety GENERAL FUND ANALYSIS OF EXPENDITURES Year Ended June 30, 1984 SALARIES, MATERIALS WAGES & SUPPLIES, OTHER CAPITAL TOTAL BENEFITS & SERVICES CHARGES OUTLAY $ 2,907 $ 2,907 19,785 $ 16,336 3,449 169,008 53,346 78,914 $ 20,893 $ 15,855 48,745 4,052 43,090 1,603 2,684 2,684 243,129 73,734 131,044 20,893 17,458 391,343 296,804 76,356 18,183 35,923 26,668 1,955 7,300 191 191 52,621 29,441 10,020 13,160 480,078 352,913 88,522 38,643 HIGHWAYS & PUBLIC IMPROVEMENTS ,299 Highways - General 172,241 63,630 85,312 12323,299 94 Highways - Road Funds 194,986 986 Sanitation 231,950 231,950 Total Highways &Public Improvements 599,177 63,630 317,262 218,285 PARKS, RECREATION & PUBLIC PROPERTY 42,985 17,618 21,183 4,184 Parks 67,9O9 34,404 19,149 14,356 Swimming Pool Recreation & Culture 47,778 47,778 Total Parks, Recreation & Public Property 158,672 52,022 40,332 47,778 18,540 (Continued) The accompanying notes are an integral part of these financial statements. CITY OF MOAB Grand County, Utah CONSERVATION & ECONOMIC DEVELOPMENT Community Promotion Total Conservation & Economic Development INTERGOVERNMENTAL -EXPENDITURES Contribution to Other Governmental Units - Irrigation Contribution to Community Bus Enterprise Fund Water/Sewer Utility & Other Total Intergovernmental Expenditures GENERAL FUND ANALYSIS OF EXPENDITURES Year Ended June 30, 1984 (Continued) SALARIES, MATERIALS, WAGES & SUPPLIES, OTHER CAPITAL TOTAL BENEFITS & SERVICES CHARGES OUTLAY $ 17,900 $ 17,900 17,900 17,900 2,000 5,600 2,000 5,600 47,647 47,647 55,247 55,247 TOTAL EXPENDITURES $1,554,203 $ 542,299 $ 577,160 $ 141,818 $ 292 926 The accompanying notes are an integral part of these financial statements. CITY OF MOAB Grand County,Utah REVENUES Contributions From Other Funds Interest Income Total Revenues EXPENDITURES Data Processing Equipment Water/Sewer Equipment Building Swimming Pool Remodeling Sewer Plant Community Center Total Expenditures CAPITAL PROJECTS FUND STATEMENT OF REVENUES, EXPENDITURES, AND COMPARISON WITH BUDGET YEAR ENDED JUNE 30, 1984 1983 VARIANCE FAVORABLE ACTUAL (UNFAVOR- PRIOR BUDGET ACTUAL ABLE) YEAR $100,000 $ 16,667 $ 24,276 $ 7,609 31,424 16,667 24,276 2,651 13,363 337,666 4,586 100,000 2,651 342,940 100,000 458,266 445,591 7,609 131,424 2,880 13,363 (5,274) 150 4,586 12,675 3,030 Excess Of Revenues Over (Under) Expenditures $(441,599) $(421,315) $ 20L284 $128,394 The accompanying notes are an integral part of these financial statements. 24 CITY OF MOAB Grand County, Utah ENTERPRISE FUND WATER/SEWER UTILITY STATEMENT OF CASH RECEIPTS & DISBURSEMENTS & COMPARISON WITH BUDGET YEAR ENDED JUNE 30 19g4- 1983 VARIANCE FAVORABLE ACTUAL (UNFAVOR- PRIOR BUDGET ACTUAL ABLE) YEAR Cash Balance July 1, $ 238,459 $ 272,687 $ 34,228 $ 388,809 RECEIPTS Water Sales & Sewer Service Charges 370,700 365,526 (5,174) 367,759 Interest Earnings on Investments 35,000 19,233 (15,757) 36,608 Contributions - Other Funds 58,397 47,648 (10,749) Contributions From Customer Water/Sewer Connections 3,000 205,935 202,935 6,479 Net Increase in Customer Deposits 1,586 1,586 Loan From Other Funds 84,781 84,781 Other 13,837 13,837 13,534 Total Receipts 467,097 738,546 271,449 424,380 Total Cash Balance & Receipts 705,556 1,011,233 305,677 813,189 DISBURSEMENTS Salaries, Wages & Benefits 265,539 268,066 (2,527) 242,694 Materials, Supplies & Services 158,850 112,569 46,281 114,324 Other Charges 369 (369) 6,952 Water Purchases 60,000 59,500 500 38,500 Interest On Bonds 11,071 5,737 5,334 11,878 Additions to Land, Buildings, Equipment & Improvements 514,292 (514,292) 105,405 Retirement of Debt 19,000 (19,000) 19,000 Customer Deposits (Net Decrease) 1,749 Total Disbursements 495,460 979,533 (484,073) 540,502 CASH BALANCE JUNE 30, $ 210,096 $ 31,700 $(178,396) $ 272,687 The accompanying notes are an integral part of these financial statements. 25 CITY OF MOAB ENTERPRISE FUND WATER/SEWER UTILITY Grand County, Utah STATEMENT OF CHANGES IN FIXED ASSETS REPORTED BALANCE BALANCE 7/1/83 ADDITIONS DELETIONS 6/30/84 LAND Land $ 71,207 $ 6,289 $ 77,496 Total Land 71,207 BUILDING & STRUCTURES Building Improvements Sewer Plant Storage Buildings Water Tanks 28,979 197,789 21,346 478,697 Total Buildings & Structures 726,811 6,289 77,496 399,691 53,974 28,979 597,480 21,346 532,671 453,665 1,180,476 IMPROVEMENTS OTHER THAN BUILDINGS Improvements 6,214 631 6,845 Water Development 259,850 259,850 Water Lines 1,351,550 759 1,352,309 Sewer Lines 688,123 688,123 Meters 107,312 10,594 117,906 Total Improvements Other Than Buildings 2,413,049 MACHINERY & EQUIPMENT Machinery & Equipment 90,482 Total Machinery & Equipment AUTOS & TRUCKS Autos & Trucks Total Autos & Trucks OFFICE FURNITURE & FIXTURES Office Furniture & Fixtures 90,482 30,709 11,984 2,425,033 27,198 117,680 27,198 117,680 30,709 30,709 30,709 11,320 Total Office Furniture & Fixtures 11,320 TOTAL FIXED ASSETS 15,156 26,476 15,156 26,476 $3,343,578 $ 514,292 $ -0- $3,857,870 The accompanying notes are an integral part of these financial statements. 26 CITY OF MOAB Grand County Utah SPECIAL ASSESSMENT FUNDS COMBINED BALANCE SHEET June 30, 1984 SPECIAL IMPROVE- MENT DISTRICT DISTRICT GUARANTY TOTAL #3 #4 FUND ASSETS Cash $ 27,310 $ 3,291 $ 63 $ 23,956 Special Assessments Receivable 6,303 5,626 677 TOTAL ASSETS $ 33,613 $ 8,917 $ 740 $ 2.3,956 LIABILITIES & FUND BALANCES Total Liabilities $ -0- $ --0- $ -0-- $ -0- Fund Balances 33,613 8,917 740 23,956 TOTAL LIABILITIES & FUND BALANCES $ 33,613 $ 8,917 $ 740 $ 23,956 The accompanying notes are an integral part of these financial statements. 27 CITY OF MOAB Grand County, Utah SPECIAL ASSESSMENT FUNDS STATEMENT OF CHANGES IN FUND BALANCE Year Ended June 30, 1984 SPECIAL IMPROVE- MENT DISTRICT DISTRICT GUARANTY TOTAL 43 #4 FUND Fund Balance July 1, 1983 $ 31,119 $ 8,673 $ 324 $ 22,122 ADD Interest Earnings 2,494 244 416 1,834 Total 33,613 8,917 740 23,956 DEDUCT: Total Deductions -0- -0- -0- -0- FUND BALANCE JUNE 30, 1984 $ 33,613 $ 8,917 S 740 $ 23,956 The accompanying notes are an integral part of these financial statements. 28 CITY OF MOAB Grand County, Utah SPECIAL ASSESSMENT FUNDS STATEMENT OF CASH RECEIPTS & DISBURSEMENTS Year Ended June 30, 1984 SPECIAL IMPROVE- MENT DISTRICT DISTRICT GUARANTY TOTAL #3 1#4 FUND Cash Balance July 1, 1983 $ 25,065 $ 2,943 $ -0- $ 22,122 RECEIPTS Special Assessments Collected 963 104 859 Interest Earnings 2,494 244 416 1,834 Total Receipts Total Cash Balance & Receipts DISBURSEMENTS Transfer To Other Funds Total Disbursements 3,457 348 1,275 1,834 28,522 3,291 1,275 23,956 1,212 1,212 1,212 -0- 1,212 -0- CASH BALANCE JUNE 30, 1984 $ 27,310 $ 3,291 $ 63 $ 23,956 The accompanying notes are an integral part of these financial statements. 29 City of Moab Grand County, Utah STATEMENT OF CHANGES IN GENERAL FIXED ASSETS REPORTED BALANCE BALANCE 7/17 /- ADDITIONS DELETIONS 6/30� /84 $ 56,877 56,877 Land 541,164 Building & Structures 541,164 Improvements Other Than Buildings 259,221 $ 361,445 $ 6,825 613,841 & Equipment 293,758 33,434 327'192 Machinery224,509 194,460 30,049 Autos &Trucks 112,655 ment 86,179 26,476 - Office Furniture & Equip � 6,825 _ � -28 TOTAL GENERAL FIXED ASSETS 1..,4� 3J659 $ 4-- 51 4O4 The accompanying notes are an integral part of these financial statements. CITY OF MOAB Grand County, Utah BOND ISSUE General Obligation Series 1/1/62 OUT- DATE OF INTEREST TOTAL STANDING ISSUE RATE ISSUED 7/1/83 1/1/62 *4.00% $550,000 $430,000 Revenue Series 1/1/62 1/1/62 *4.25% $510,000 $270,000 *On Remaining Outstanding Bonds CURRENT YEAR CHANGES ISSUED MATURED $30,000 SCHEDULE OF CHANGES IN BONDS PAYABLE Year Ended June 30, 1984 OUT- STANDING 6/30/84 MATURITIES ANNUAL AMOUNT PERIOD $400,000 Various 1984-94 $19,000 $251,000 Various 1984-94 The accompanying notes are an integral part of these financial statements. CITY OF MOAB Grand County, Utah STATISTICAL SECTION CITY OF m0A13 Grand County, Utah REVENUES General Property Taxes General Sales & Use Taxes Franchise Taxes Licenses & Permits Fines, Forfeitures & Penalties Revenues From Use of Money & Property Intergovernmental Revenue Charges For Service Miscellaneous TOTAL REVENUES EXPENDITURES Administrative Agencies City & Precinct Court Elections & Planning General Government Buildings Law Enforcement -Police Liquor Enforcement Protective Inspection Other Protective Streets & Highways Sanitation Parks & Recreation Swimming Pool Conservation & Economic Development Intergovernmental Expenditures TOTAL EXPENDITURES 1983-1984 1982-1983 1981-1982 1980-1981 $ 150,236 $ 154,567 386,590 407,557 37,286 41,494 180,544 173,009 11,331 39,978 62,043 85,149 187,757 196,587 256,099 253,846 21,924 -0- $1,293,810 $1,352,187 $ 188,793 2,907 2,684 48,745 391,343 35,923 52,812 367,227 231,950 90,763 67,909 17,900 55,247 $ 194,381 43,555 1,032 44,952 455,053 45,246 39,249 199,739 236,839 73,832 33,364 24,953 160,207 $ 234,331 434,580 41,057 187,803 32,436 111,858 183,976 241,708 -0- $ 227,734 404,847 38,014 183,647 32,885 91,995 154,467 226,932 3,227 $1,467,749 $1,363,748 $ 178,139 $ 154,348 40,000 39,568 4,396 48,598 240,020 344,110 256,872 60,573 45,330 41,340 29,208 25,211 28,662 217,109 202,462 242,933 218,145 76,921 71,503 39,826 31,118 7,999 4,500 68,140 90,884 $1,554,203 $1,552,402 $1,392,295 S1,412,620 The accompanying notes are an integral part of these financial statements. STATISTICAL SUMMARIES GENERAL FUND REVENUES BY SOURCE & GENERAL FUND EXPENDITURES BY DEPARTMENT 1979-1980 1978-1979 1977-1978 1976-1977 1975-1976 1974-1975 $ 222,733 355,840 28,47.6 167,306 31,237 69,801 428,745 181,004 16,375 $ 199,245 $ 183,731 318,021 256,055 32,349 17,303 150,173 139,628 30,423 47,141 29,873 14,163 86,225 121,453 167,232 168,154 352 6,336 $ 152,818 214,215 9,528 118,240 46,835 8,887 80,478 119,428 136 $ 137,323 $ 131,479 165,087 94,358 7,200 103,933 84,932 30,369 32,888 528 140 47,302 39,583 102,682 80,822 967 1,053 $1,501,517 $1,013,893 $ 953,964 $ 750,565 $ 595,391 $ 465,255 $ 125,591 $ 100,202 $ 98,097 29,830 18,199 38,498 1,703 1,511 19,907 14,456 173,915 150,380 30,554 24,748 32,982 30,926 25,719 18,824 256,016 163,411 181,538 168,201 86,583 21,131 254,948 22,005 3,430 128,632 19,329 28,431 22,025 168,789 1E8,557 27,828 24,826 $ 84,610 $ 66,749 $ 64,208 36,411 28,819 24,794 1,384 100,316 81,353 72,619 15,958 14,147 11,288 14,259 13,195 11,508 16,037 11,610 9,105 87,517 90,623 105,526 106,809 86,832 73,971 17,824 16,058 21,435 36,941 22,182 15,241 114,876 107,643 200,822 151,316 67,019 59,654 $1 337 592 $ 840,126 $ 917 345 $ 667,998 $ 505,971 $ 469.349 CITY OF MOAB Grand County, Utah FISCAL YEAR 1974 - 1975 1975 - 1976 1976 - 1977 1977 - 1978 1978 - 1979 1979 - 1980 1980 - 1981 1981 - 1982 1982 - 1983 1983 - 1984 f SALARIES, WAGES & BENEFITS_ 182,472 Z00,290 242,679 280,483 318,090 377,916 478,610 579,055 638,543 542,299 MATERIALS, SUPPLIES & SERVICES $ 213,821 227,244 251,186 345,838 377,514 411,398 489,835 555,592 590,742 577,160 STATISTICAL SUMMARIES GENERAL FUND EXPENDITURES BY OBJECT OTHER CAPITAL CHARGES OUTLAYS TOTAL EXPEN- DITURES BY OBJECT $ 63,039 $ 10,017 $ 469,349 70,270 8,167 505,971 157,740 16,393 667,998 210,918 80,106 917,345 122,353 22,169 840,126 396,905 151,373 1,337,592 136,642 307,533 1,412,620 133,955 123,693 1,392,295 230,132 92,985 1,552,402 141,818 292,926 1,554,203 CITY OF MOAB Grand County, Utah FISCAL YEAR 1974 - 1975 1975 - 1976 1976 - 1977 1977 - 1978 1978 - 1979 1979 - 1980 1980 - 1981 1981 - 1982 1982 - 1983 1983 - 1984 NET INCREASE FROM July 1, 1974 WATER INCOME PER AVERAGE CONNECTION $ 101.97 98.48 106.20 142.17 149.49 146.94 152.34 135.49 136.41 136.31 STATISTICAL SUMMARIES ENTERPRISE FUND WATER/SEWER UTILITY ANNUAL AVERAGE PER CONNECTION & AGING OF RECEIVABLES SEWER INCOME PER AVERAGE CONNECTION $ 48.92 49.54 51.90 64.83 65.16 67.08 66.75 114.06 112.57 114.46 $ 30.75 $ WATER INCOME PER 1,000 GALLONS S 0.3306 0.3483 0.4066 0.5841 0.5382 0.5493 0.5541 0.5204 0.5271 0.5661 SEWER INCOME PER 1,000 GALLONS OF WATER $ 0.1586 0.1752 0.1987 0.2664 0.2345 0.2508 0.2428 0.4381 0.4350 0.4753 65.98 $ 0.2288 $ 0.3204 The following are the Water/Sewer accounts receivable at year end. JUNE 30, 1984 AGING a-- 30 Days (Current Billings) 30 - 60 Days 60 - 90 Days Over 90 Days Accounts Receivable - Water and Sewer - June 30, Other Accounts Receivable TOTAL ACCOUNTS RECEIVABLE - JUNE 30, AMOUNT $ 36,311 5,427 1,096 1,989 44,823 6,725 $ 51,548 JUNE 30, 1983 AMOUNT °o 81.0 $ 35,099 12.1 3,409 2.4 257 4.5 563 100.0 39,328 6,725 $ 46,053 89.25 8.67 0.65 1.43 100.00 36 CITY OF MOAB Grand County, Utah STATISTICAL SUMMARIES ENTERPRISE FUND WATER/SEWER UTILITY ACTIVE ACCOUNTS & GALLONS USED TOTAL ACTIVE CUSTOMER GALLONS ACCOUNTS INCREASE CONSUMED IN INCREASE FISCAL YEAR YEAR END (DECREASE) THOUSANDS (DECREASE) 1974 - 1975 1,285 12 392,373 (2,631) 1975 - 1976 1,354 69 372,034 (20,339) 1976 - 1977 1,406 52 260,961 (11,073) 1977 - 1978 1,456 50 349,026 (11,935) 1978 - 1979 1,516 60 417,246 68,220 1979 - 1980 1,557 41 411,113 (6,133) 1980 - 1981 1,591 34 432,743 21,630 1981 - 1982 1,453 (138) 396,266 (36,477) 1982 - 1983 1,483 30 379,927 (16,339) 1983 - 1984 1,476 (7) 356,272 (23,655) NET INCREASE FROM July 1, 1974 203 (38,732) 37 David R. Adkison C.P.A. 471 South Main #2 - P.O. Sox 728 Moab, Utah 84532 (8011259-7924 December 12, 1984 The City Council City of Moab Grand County, Utah I have examined the financial statements of the various funds of the City of Moab (GRS Account. #45 2 010 001) for the year ended June 30, 1984, and have issued my report thereon dated December 12, 1984. The examination was made in accordance with generally accepted auditing standards and accordingly in- cluded such tests of the accounting records and such other auditing procedures as I considered necessary in the circumstances. In connection with my examination, I also (1) performed tests of compliance with the Revenue Sharing Act and regulations as detailed in the Commentary on the Audit Requirements of the 1980 Amendments to the State and Local Fiscal Assistance Act issued by the Office of Revenue Sharing, U.S. Department of the Treasury, and (2) compared the data submitted on Form UT-2 for fiscal year ended June 30, 1984 with the audited records of the City of Moab for the fiscal year ended June 30, 1984. The amounts reported on the UT-2 differed from the final audited figures for some line items on the report. Certain of the differences arose from various accrual adjustments made for the audited financial statements. Other differ- ences arose from staff misunderstanding the instructions for preparing the UT-2 The City under went substantial staff changes during the fiscal year ended June 30, 1984. During this period many of the functions of the administrative, financial and accounting departments were not completed or became materially delinquent. Budgetary procedures and controls, financial reporting, filing and documentation systems, internal controls and other areas were severely hindered. The general books were out -of -balance and required material adjust- ment as of June 30, 1984, including reconstruction of certain accounts. Closer attention is needed to the requirements of the Davis -Bacon act as relates to wages paid by subcontractors on construction projects involving Revenue Sharing funds. 38 The City Council City of Moab December 12, 1984 Page 2 The City Council and administration is aware of the situation, and has received management comments and recommendations through the audit process. Progress has been made and is evident in the accounting process currently being used for the new fiscal year. However, it is imperative that the Council monitor the systems and insist on adhearance to good accounting policy, internal controls, state and federal mandated budget procedures and financial fiscal responsi- bility. In my opinion there were no instances of noncompliance by the City of Moab, except as noted above, that would materially affect the financial statements of the City for the fiscal year ended June 30, 1984. David R. Adkison 39