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Home My Public Portal About09/28/1980 * Special Budget & Millage MeetingCOMMISSION MEETING FOR THE PROPOSED BUDGET AND MILLAGE INCREASE SEPTEMBER 28, 1980 PRESENT: WILLIAM F. KOCH MAYOR JOAN S. LAPORTE VICE MAYOR EVANS M. CLEMENTS COMMISSIONER ABSENT: LINDLEY F. BEfTISON COMMISSIONER JOEL HUNTER COMMISSIONER Also attending: Manager William E. Gwynn, Deputy Town Clerk, Barbara Gwynn. The Special Advertised meeting of the proposed budget and millage was called to order at 5:05 P.M. by Mayor Koch. Upon motion by Vice Mayor LaPorte and seconded by Commissioner Clements the Commission approved Resolution 80 -1. RESOLUTION NO. 80 -1 RESOLUTION OF THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, PALM BEACH COUNTY, FLORIDA, ESTABLISHING A FOUR AND EIGHT HUNDRED FORTY EIGHT ONE HUNDREDTHS (4.848) MILL TAX LEVY AGAINST THE ASSESSED VALUATIONS 4 OF ALL TAXABLE REAL AND PERSONAL PROPERTIES WITHIN THE CORPORATE LIMITS OF SAID TOWN OF GULF STREAM, FOR THE CALENDAR YEAR OF 1980. Upon motion by Vice Mayor LaPorte seconded by Commissioner Clements the Commission approved Resolution 80 -2. RESOLUTION No. 80 -2 A RESOLUTION OF THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, PALM BEACH COUNTY, FLORIDA, PROVIDING FOR ADOPTION OF A BUDGET FOR THE TOWN'S FISCAL YEAR COMMENCING OCTOBER 1, 1980, AND ENDING ON SEPTEMBER 30, 1981, and AUTHORIZING A PRO RATA SHARE OF GENERAL FUND EXPENSES TO BE BORNE BY THE WATER FUND FOR SAID FISCAL YEAR TERMINATION OF SEPTEMBER 30, 1981. A letter was read to the Commission from Mr. James C. Gentle stating his desire to go on record as opposing any new Budget increase, this letter is a part of the minutes. After a general discussion Commissioner Clements moved that another Special Advertised meeting be held October 10, 1980 at 5 P.M. at such time the final millage and budget will then be adopted. Vice Mayor LaPorte seconded the motion. Commissioner Bettison was contacted by phone at this time and stated he concurred with the action taken by the Commission and that he had also signed a letter to this effect. This letter is a part of the Minutes. Commissioner Clements moved that the meeting be adjourned, Vice Mayor LaPorte seconded the motion, motion passed. Meeting adjourned 5:18 P.M. �aa�� Budget Increased For Town By Josi Maki Stall Writ cr GULFSTREAM — Inflation and a 10.percent pay raise for employees account for the in- creases in the proposed 1980 -81 budget for Gulfstream, said Town Manager William Gwynn. The Town Commission Monday held a public hearing on the budget and the proposed proper- ty tax rate of 4.848 mills. The general fund is $332,180, which is 15 percent higher than this year's. The property tax rate this year in the residential com- munity is 4.754 mills. There are no new programs or new employees planned in the budget, Gwynn said. The budget calls for an across - the -board pay hike of 10 percent for the town's 14 employees and "all the rest is just inflation," he said. The town's largest department — the police — accounts for 47 percent of the general fund in the proposed budget. The police department is to get a 22 percent increase in expenditures, most of which would go for salaries. The police department has eight full - time policemen and one parttime employee. Among the other increases in the budget is $5,600 more than last year for capital expenses on streets and easements, a total of $9,920. Gwynn said the money will go for a continuation of the Street improvement program. The budget includes a 10 per- cent increase in the revenues from the property tax, which would be $215,000 for 1981. The budget for the water fund is $131,500, an increase of nearly 21 percent from last year. Debt retirement accounts for most of that increase, an allocation of $24,000. Gwynn said h8 did not believe the passage of the additional homestead exemption would make much difference in Gulf - stream's budget. U COMMISSIONERS William F. Koch, Jr.. Mayor Joan S. LaPorte, Vice Mayor Lindley S. Bettison Evens M. Clements Joel Hunter TOWN OF GULF STREAM PALM BEACH COUNTY, FLORIDA Mayor William F. Koch, Jr Town of Gulf Stream 246 Sea Road Gulf Stream, Florida 33444 I hereby cast my vote for the adoption of the tentative budget and proposed millage rate of 4.848 mills. (see attached) < ti LV; e. aa,,cjsa Date Respectfully submitted: Lindley S. Bettison MAI L ADDRESS 246 SEA ROAD DELRAV BEACH, FLORIDA 33444 TEL.: DELRAY BEACH 2765115 Town Manager WILLIAM E. GWYNN Deputy Town Clark BARBARA GWYNN BUDGET EXPENDITURES: ADMINISTRATIVE AND GENERAL Clerks salary Budget Budget Postage, Printing & Stationery 1979- 1980- Office Supplies & Expenses 1980 1981 GENERAL FUND 1,500 1,700 REVENUE: 1,$00 1,800 Fines $ 10 100 Permits 3,000 3,000 Licenses 5,000 6,500 Alca,holic Beverage 456 456 Trash Collection 27,500 30,000 Taxes -Real Extate 4.848 mills 194,427 215,164 State of Fla. Homestead Exemption 1,682 1,714 Franchise Fla. Power & Light Co. 23,600 31,924 Franchise So. Bell Tel & Tel Co. 850 900 Interest Income 4,000 5,000 State of Fla. - Gasoline Tax 650 650 Florida Revenue Sharing 9,430 8,753 Cigarette Tax Refund 2,500 2,000 Other Revenue 100 100 P.B. County Roads & Bridges 10,200 17,000 Federal Revenue Sharing 1,550 -0- Transfer from Fed. Rev. Sharing Surplus 3,900 1,400 Unexpended Funds from previous year -0- 10,000 TOTAL - GENERAL FUND REVENUE 28® 334.661 EXPENDITURES: ADMINISTRATIVE AND GENERAL Clerks salary 18,745 20,620 Postage, Printing & Stationery 800 850 Office Supplies & Expenses 2,000 2,000 Telephone 1,500 1,700 Electricity 1,$00 1,800 Transportation 600 1,000 Building maintenance 600 900 Lawn maintenance 200 200 Insurance 22,000 17,500 Insurance - Medical 6,610 5,000 Secretarial Serv.- vacation /assistant 2,000 2,200 Social Security Tax -All 9,075 11,100 Bookkeeping service 1,800 1,980 Retirement plan 6,000 8,627 Legal and Professional 8,500 10,000 Misc. -Dues 500 500 Legal advertising 200 500 Other 100 100 County permit fee 1,000 1,500 Town library 1,124 1,236 FIRE PROTECTION: Fire Contract Cost $ 18,000 18,000 _ 2�. 400 400 ADMINISTRATIVE AND GENERAL CONT. -0- -0- Capital Expenditures - Administrative $ 1,300 1,300 Water Fund Share of Gen'a Admin. Exp. (13,225) (14,550) TOTAL S 73,229 76,063 POLICE DEPARTMENT: 90000 10,300 Salaries $ 102,506 121,955 Uniforms, Equipment and supplies 1,500 2,500 Auto maintenance 13,700 19,000 Cleaning Uniforms 700 1,100 Radio Service & Repair 6,500 8,000 Crime Prevention & Criminal Investigation 500 500 Capital Expenditures 5,000 6,000 Water Fund Share of Police (2,400) (2,640) TOTAL $ 128,006 156.415 FIRE PROTECTION: Fire Contract Cost $ 18,000 18,000 Maintenance repair 400 400 Capital expenditures ' "9 -0- -0- TOTAL 18,400 18,400 STREET AND EASEMENTS: a Maintenance, Repairs & Supplies 3 500 500 : ,Lighting 90000 10,300 ' Signs 300 450 Capital Expenditures ,' 4,300 9,920 TOTAL 14,100 21,170 SANITATION DEPARTMENT: Salaries $ 22,120 24,332 Garbage Collection Contract„ 26,500 27,300 Truck Maintenance & Service 2,400 °3,000 Uniforms 600 700 Disposal fees 3,500 4 X 000 Capital Expenditures -0- 800 TOTAL $ 55,120 60,132 TOTAL GENERAL FUND EXPENSES JjL8&855 332,180 ?' WATER FUND REVENUE: - 3 - From sales $ 105,000 126,000 Interest from invested Surplus Funds 4.000 5,540 TOTAL WATER REVENUE S 109.000 131.540 EXPENDITURES: Cost of Water $ 69,300 69,300 Repairs 5,000 5,000 Engineering and Surveying 500 500 Interest 5,800 5,000 Meter Reading 1,500 1,800 Billing and collection 2,000 2,200 Lease -Gulf Stream Golf Club 5,750 5,750 Postage, printing & stationery 800 800 Water Fund Share of Gen'l . & Admin. Expenses 13,225 14,550 Police Dept. Expenses 2,400 2,640 Debt retirement 2,725 24,000 TOTAL EXPENDITURES S 109.000 131.540 I hereby cast my vote for the adoption of the tentative budget and proposed millage rate of 4.848 mills. pl4u�Esk da. 19 8o Date Lindley S. Bettison COMMISSIONERS William F. Koch, Jr., Mayor Joan S. LaPorte, Vice Mayor Lindley S. Benison Evans M. Clements Joel Hunter TOWN OF GULF STREAM PALM BEACH COUNTY, FLORIDA MAI L ADDRESS 246 SEA ROAD DELRAY BEACH, FLORIDA 33444 TEL.: DELRAY BEACH 2765116 Town Manager WILLIAM E. GWYNN Deputy To" Clerk BARBARA GWYNN Mayor William F. Koch, Jr Town of Gulf Stream 246 Sea Road Gulf Stream, Florida 33444 I hereby cast my vote for the adoption of the final budget and the millage rate of 4.848 mills. (see attached) Respect ly submitted I �J Date Joel Hunter PROPOSED BUDGET Budget Budget 1979- 1980- 1980 1981 GENERAL FUND REVENUE: Fines $ 10 100 Permits 3,000 3,000 Licenses 5,000 6,500 Ale`.iholic Beverage 456 456 Trash Collection 27,500 30,000 Taxes -Real Extate 4.848 mills 194,427 215,164 State of Fla. Homestead Exemption 1,682 1,714 Franchise Fla. Power & Light Co. 23,600 31,924 Franchise So. Bell Tel & Tel Co. 850 900 Interest Income 4,000 5,000 State of Fla. - Gasoline Tax 650 650 Florida Revenue Sharing 9,430 8,753 Cigarette Tax Refund 2,500 11 2,000 Other Revenue 100 100 P.B. County Roads & Bridges 10,200 17,000 Federal Revenue Sharing 1,550 -0- Transfer from Fed. Rev. Sharing Surplus 3,900 1,400 Unexpended Funds from previous year -0- 10,000 TOTAL - GENERAL FUND REVENUE 2 88.855 3341661 EXPENDITURES: ADMINISTRATIVE AND GENERAL Clerks salary 18,745 20,620 Postage, Printing & Stationery 800 850 Office Supplies & Expenses 2,000 2,000 Telephone 1,500 1,700 Electricity 1,800 1,800 Transportation 600 1,000 Building maintenance 600 900 Lawn maintenance 200 200 Insurance 22,000 17,500 Insurance - Medical 6,610 5,000 Secretarial Serv.- vacation /assistant 2,000 2,200 Social Security Tax -All 9,075 11,100 Bookkeeping service 1,800 1,980 Retirement plan 6,000 8,627 Legal and Professional 8,500 10,000 Misc. -Dues 500 500 Legal advertising 200 500 Other 100 100 County permit fee 1,000 1,500 Town library 1,124 1,236 c - 2 - ADMINISTRATIVE AND GENERAL CONT. Capital Expenditures- Administrative $ 1,300 1,300 Water Fund Share of Gen's Admin. Exp. (13,225) _(14,550) TOTAL $ 73,229 76,063 POLICE DEPARTMENT: Salaries $ 102,506 121,955 Uniforms, Equipment and supplies 1,500 2,500 Auto maintenance 13,700 19,000 Cleaning Uniforms 700 1,100 Radio Service & Repair 6,500 8,000 Crime Prevention 6 Criminal Investigation 500 500 Capital Expenditures 5,000 6,000 Water Fund Share of Police (2,400) (2,640) TOTAL $ 128,006 156.415 FIRE PROTECTION: Fire Contract Cost $ 18,000 18,000 Maintenance repair 400 400 Capital expenditures -0- -0- TOTAL $ 18,400 18,400 STREET AND EASEMENTS: Maintenance, Repairs & Supplies 3 500 500 Lighting 9,000 10,300 Signs 300 450 Capital Expenditures 4,300 9,920 TOTAL SS 14,100 21,170 SANITATION DEPARTMENT: Salaries $ 22,120 24,332 Garbage Collection Contract 26,500 27,300 Truck Maintenance 6 Service 2,400 3,000 Uniforms 600 700 Disposal fees 3,500 4,000 Capital Expenditures -0- 800 TOTAL $ 55,120 60,132 TOTAL GENERAL FUND EXPENSES 288.855 332.180 0 i 3 V.' ... WATER FUND REVENUE: From sales $ 105,000 126,000 Interest from invested Surplus Funds 4.000 5,540 TOTAL WATER REVENUE L109..0.00 131,540 EXPENDITURES: Cost of Water $ 69,300 69,300 Repairs 5,000 5,000 Engineering and Surveying Soo 500 Interest 5,800 5,000 Meter Reading 1,500 1,800 Billing and collection 2,000 2,200 Lease -Gulf Stream Golf Club 5,750 5,750 Postage, printing & stationery 800 800 Water Fund Share of Gen'1 & Admin. Expenses 13,225 14,550 Police Dept. Expenses 2,400 2,640 Debt retirement 2,725 24,000 TOTAL EXPENDITURES S 109,000 131,540 I hereby cast my vote for the adoption of the final budget and the millage rate of 4.848 mills. Da to 0 TOWN OF GULF STREAM, FLORIDA FINANCIAL STATEMENTS SEPTEMBER 30, 1980 TOWN OF GULF STREAM, FLORIDA FINANCIAL STATEMENTS SEPTEMBER 30, 1980 MAYOR WILLIAM F. KOCH, JR. VICE MAYOR JOAN S. LA PORTE LINDLEY S. BETTISON EVANS M. CLEMENTS JOEL HUNTER TOWN MANAGER WILLIAM E. GWYNN ATTORNEYS JOHNSTON, SASSER & RANDOLPH AUDITOR DAN W. WARD, C.P.A. TOWN OF GULF STREAM, FLORIDA SEPTEMBER 30, 1980 C O N T E N T S Page AUDITOR'S REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 GENERAL FUND BALANCE SHEET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 STATEMENT OF CHANGES IN FUND BALANCE . . . . . . . . . . . . . . . . . . . 3 STATEMENT OF REVENUES AND EXPENDITURES . . . . . . . . . . . . . . . . . . 4 STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES . . . . . . . . . . . . . . 5 -7 WATER DISTRIBUTION FUND BALANCE SHEET . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 STATEMENT OF CHANGES IN RETAINED EARNINGS . . . . . . . . . . . . . . . . 9 STATEMENT OF REVENUE AND EXPENSE - ACTUAL AND BUDGETED . . . . . . . . . . 10 STATEMENT OF CHANGES IN FINANCIAL POSITION . . . . . . . . . . . . . . . . 11 FEDERAL REVENUE SHARING FUND BALANCE SHEET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 STATEMENT OF CHANGES IN FUND BALANCE . . . . . . . . . . . . . . . . . . . 12 STATEMENT OF REVENUE - ESTIMATED AND ACTUAL . . . . . . . . . . . . . . . 13 STATEMENT OF EXPENDITURES AND ENCUMBRANCES COMPARED WITH AUTHORIZATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . 13 SPECIAL ASSESSMENT FUND BALANCE SHEET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS AND ANALYSIS OF CHANGES IN FUND BALANCE . . . . . . . . . . . . . . . . . . 14 GENERAL FIXED ASSETS GROUP OF ACCOUNTS STATEMENT OF GENERAL FIXED ASSETS . . . . . . . . . . . . . . . . . . . . 15 STATEMENT OF CHANGES IN GENERAL FIXED ASSETS . . . . . . . . . . . . . . . 16 NOTES TO FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . 17 -18 SUPPLEMENTAL SCHEDULE SCHEDULE OF INSURANCE IN FORCE . . . . . . . . . . . . . . . . . . . . . . 19 AUDIT COMMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 TOWN OF GULF STREAM, FLORIDA AUDITOR'S REPORT l 1 1 Member of The Florida Institute of j Certified Public Accountants DAN K WARD CERTIFIED PUBLIC ACCOUNTANT SUITE 505, FIRST BANK BUILDING POST OFFICE DRAWER 1240 DELRAY BEACH, FLORIDA 33444 Mayor and Town Commission Town of Gulf Stream Gulf Stream, Florida TELEPHONE 13051 2783214 Member of The American Institute of Certified Public Accountants I have examined the balance sheets of the various funds of the Town of Gulf Stream, Florida, as of September 30, 1980, and the related statements of revenue, expense, expenditures, retained earnings, changes in fund balances and changes in financial position for the year then ended. My examination was made in accordance with generally accepted auditing standards and, accord- ingly, included such tests of the accounting records and such other auditing procedures as I considered necessary in the circumstances. In my opinion, the accompanying statements present fairly the financial posi- tion of the Town of Gulf Stream at September 30, 1980, the results of its operations and changes in financial position for the year then ended in con- formity with generally accepted accounting principles applied on a basis con- sistent with that of the preceding year. i)"' z,-7L. zLi/ Delray Beach, Florida November 19, 1980 TOWN OF GULF STREAM, FLORIDA GENERAL FUND TOWN OF GULF STREAM, FLORIDA GENERAL FUND BALANCE SHEET SEPTEMBER 30, 1960 ASSETS CURRENT ASSETS Cash--------------- -- - - -- Accounts Receivable - - - - -- Prepaid Insurance -- - - - - -- Prepaid Gasoline and Oil - Due From Water Fund - - - - -- TOTAL ASSETS LIABILITIES AND FUND BALANCE CURRENT LIABILITIES Accounts Payable - - -- Accrued Payroll Taxes Total Current Liabilities FUND BALANCE Unappropriated Donated - - - - -- Total Fund Balance TOTAL LIABILITIES AND FUND BALANCE - $46,144 - 5,697 - 5,895 - 373 - 13,113 $73,222 $ 5,283 3,569 $ 8,852 -- $60,752 -- 3,618 $64,370 $73,222 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 2 - TOWN OF GULF STREAM, FLORIDA GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED SEPTEMBER 30, 1980 RECLASSIFY: Donations Included Total Unappropriated Donated FUND BALANCE - OCTOBER 1, 1979 ------- - - - - -- $ 47,412 $ 41,621 $ 5,791 ADD: Excess Revenue Over Expenditures - - - -- 19,011 19,011 to LESS: Refund of Excess Funds Donated to Carpeting ------------------------- Acquire Fence for Wildlife - - - - -- 1,867 (1,867) Sanctuary ------------------- - - - - -- ( 2,053) Acquire Office (2,053) RECLASSIFY: Donations Included in Revenues ----- - - - - -- ( 2,002) 2,002 Donated Funds Used to Repair Fence - - - - - -- 120 ( 120) Donated Funds Used to Acquire Town Hall Carpeting ------------------------- - - - - -- 1,867 (1,867) Donated Funds Used to Acquire Office Mats -------- ------------- -- --- ---- - -- - -- 135 ( 135) $ 64,370 $ 60,752 $ 3,618 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 3 - TOWN OF GULF STREAM, FLORIDA GENERAL FUND STATEMENT OF REVENUES AND EXPENDITURES FOR THE YEAR ENDED SEPTEMBER 30, 1980 REVENUES General Property Taxes (Net of Discounts) - - - - - -- Fines------------------------------------------- Building Permits (Net of Expenses) -------- - - - - -- Licenses---------------------------------------- Trash Collection -------------------------------- Franchise Tax ----------------------------------- State Cigarette Tax Refund ---------------- - - - - -- Palm Beach County - Roads & Bridges ------- - - - - -- State of Florida - Gasoline Tax Refund ---- - - - - -- State Revenue Sharing --------------------------- Other Revenue ----------------------------------- Interest---------------------------------------- State of Florida - homestead Exemption ---- - - - - -- Donations --------------------------------------- Transfer from Federal Revenue Sharing Fund - - - - -- Total Revenues EXPENDITURES General and Administrative - - - -- Police Department -------- - - - - -- Fire Protection --------------- - Streets and Easements ---- - - - - -- Sanitation Department ---- - - - - -- Total Expenditures EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ---- - - - - -- Budget $194,427 10 2,000 5,456 27,500 24,450 2,500 10,200 650 9,430 100 4,000 1,682 -0- 5,450 $287,855 $ 72,229 128,006 18,400 14,100 55,120 $287,855 Actual $195,450 949 2,809 5,851 29,673 34,204 2,015 17,267 645 9,720 273 7,365 1,682 2,002 -0- $309,905 $ 73,835 129,463 13,930 17,293 56,373 $290,894 $ 19,011 Actual Over (Under) Budget $ 1,023 939 809 395 2,173 9,754 ( 485) 7,067 ( 5) 290 173 3,365 -0- 2,002 (5,450) $22,050 $ 1,606 1,457 (4,470) 3,193 1,253 $ 3,039 $19,011 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. TOWN OF GULF STREAM, FLORIDA GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES FOR THE YEAR ENDED SEPTEMBER 30, 1980 Appropriations GENERAL AND ADMINISTRATIVE Town Clerk's Salary ---------------- - - - - -- Postage, Printing and Stationery --- - - - - -- Office Supplies and Expense -------- - - - - -- Telephone and Answering Service ---- - - - - -- Transportation --------------------------- Building and Lawn Maintenance ------ - - - - -- Electricity ------------------------------ Insurance -------------------------------- Secretarial Service ---------------- - - - - -- Social Security Tax ---------------------- Bookkeeping Service ---------------- - - - - -- Legal and Professional ------------------- Miscellaneous General Expense ------ - - - - -- Town Library ----------------------------- Group Medical Insurance --------------- - -- Retirement Plan -------------------------- Capital Expenditures --------------- - - - - -- Less: Water Fund Share of General and Administrative Expenditures -- $18,745 800 2,000 1,500 600 800 1,800 22,000 2,000 9,075 1,800 8,500 800 1,124 6,610 6,000 1,300 $85,454 13,225 $72,229 Actual Expenditures $18,931 662 1,994 1,552 1,159 2,125 2,123 18,359 2,178 8,949 1,946 9,983 1,743 1,124 7,251 5,114 1,867 $87,060 13,225 $73,835 Actual Over (Under) EstimataA $ 186 ( 138) ( 6) 52 559 1,325 323 (3,641) 178 ( 126) 146 1,483 943 -0- 641 ( 886) 567 $1,606 $1,606 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 5 - TOWN OF GULF STREAM, FLORIDA GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES FOR THE YEAR ENDED SEPTEMBER 30, 1980 J 1 J POLICE DEPARTMENT Salaries ----------------------------- Uniforms and Equipment --------------- Auto Maintenance --------------------- Uniform Cleaning --------------------- ` Radio Service ------------------ - - - - -- General Supplies & Expense ----- - - - - -- 1 Crime Prevention and Criminal Investigation ---------------- - - - - -- Capital Expenditures ----------------- 1 Florida Unemployment Compensation Fund Reimbursement ---------------------- 1 Less: Water Fund Share of Police Department Expenditures - - - - -• The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. Actual Over Actual (Under) Appropriations Expenditures Estimated -- $102,506 $101,719 $( 787) -- 1,500 2,505 1,005 -- 13,700 19,106 5,406 -- 700 1,141 441 -- 6,500 5,639 ( 861) -- -0- 468 468 -- 500 -0- ( 500) -- 5,000 -0- (5,000) -- -0- 1,285 1,285 $130,406 $131,863 $ 1,457 -- 2,400 2,400 -0- $128,006 $129,463 $ 1,457 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. TOWN OF GULF STREAM, FLORIDA GENERAL FUND STATEMENT OF ACTUAL AND ESTIMATED EXPENDITURES FOR THE YEAR ENDED SEPTEMBER 30, 1980 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 7 - Actual Over (Under) Appropriations Expenditures Estimated FIRE PROTECTION Fire Contract Cost --------------------- - - - - -- $ 18,000 $ 13,930 $(4,070) Maintenance and Repairs ---------------- - - - - -- 400 -0- ( 400) $ 18,400 $ 13,930 $(4,470) STREETS AND EASEMENTS Maintenance, Repairs and Supplies ------ - - - - -- $ 500 $ 6,091 $ 5,591 Lighting ------------------------------- - - - - -- 91000 9,623 623 Signs ---------------------------------- - -- --- 300 404 104 Capital Expenditures ------------------- - - - - -- 4 300 -0- (4,300) Transfer To Special Assessment Fund - Town's Share of Drainage Improvements ------- - - - - -- -0- 1,175 1,175 $ 14,100 $ 17,293 $ 3,193 SANITATION DEPARTMENT Salaries ------------------------------- - - - - -- $ 22,120 $ 21,099 $(1,021) Garbage Collections Contract ----------- - - - - -- 26,500 28,050 1,550 Truck Maintenance and Service ---------- - - - - -- 21400 3,297 897 Uniforms ---------- ----- -------- ----- -- - -- - - -- 600 574 ( 26) Dump Site Rental and Bulldozing -------- - - - - -- 3,500 3,353 ( 147) $ 55,120 $ 56,373 $ 1,253 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 7 - TOWN OF GULF STREAM, FLORIDA WATER DISTRIBUTION FUND TOWN OF GULF STREAM, FLORIDA WATER DISTRIBUTION FUND BALANCE SHEET SEPTEMBER 30, 1980 ASSETS CURRENT ASSETS Cash --------------------------------------------------------------------- $ 5,366 Certificates of Deposit -------------------------------------------- - - - - -- 51,000 Accounts Receivable ----------------------- ---- ---- -------- ---- ----- - - ---- 26,099 Total Current Assets ------------------------------------------ - - - - -- $ 82,465 FIXED ASSETS Water System -------------------------------- ----- ------------ ------ - - - --- $262,100 Less: Accumulated Depreciation ---------------------------------- - - - - -- 59,018 Total Fixed Assets -------------------------------------------- - - - - -- $203,082 TOTAL ASSETS ---------------------- ---- --- -- -- ---- ---- ----- -- - - - -- $285,547 LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS CURRENT LIABILITIES Accounts Payable -------------------------- ----- --------- -- --------- - - ---- $ 6,548 AccruedInterest -------------------------- ------ ----- -- ----- ----- -- - - - --- 1,242 Due to General Fund ------------------------------------------------ - - - - -- 13,113 Current Portion of Long -Term Debt (Note 5) ------------------------- - - - - -- 24,000 Total Current Liabilities ------------------------------------- - - - - -- $ 44,903 LONG -TERM DEBT Note Payable (Less Portion Due Within One Year) (Note 5) ----------- - - - - -- 86,860 TOTAL LIABILITIES ----------------- ------------------------------- $131,763 CONTRIBUTIONS ------------------------------- ------------------ ------- ------ 52,426 RETAINED EARNINGS --------------------------- ----- ----------- --------------- 101,358 TOTAL LIABILITIES, CONTRIBUTIONS AND RETAINED EARNINGS ----- - - - - -- $285,547 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. TOWN OF GULF STREAM, FLORIDA WATER DISTRIBUTION FUND STATEMENT OF CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED SEPTEMBER 30, 1980 BALANCE, BEGINNING OF YEAR Net Income BALANCE, END OF YEAR $ 92,958 8,400 $101,358 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. TOWN OF GULF STREAM, FLORIDA WATER DISTRIBUTION FUND STATEMENT OF REVENUE AND EXPENSE - ACTUAL AND BUDGETED FOR THE YEAR ENDED SEPTEMBER 30, 1980 OPERATING REVENUE Water Sales ------------------------------------- LESS: OPERATING DEDUCTIONS BEFORE DEPRECIATION Cost of Water ----------------------------------- Repairs----------------------------------------- Postage, Printing and Stationery --------------- - Meter Reading ----------------------------------- Rent of Water Lines ----------------------------- Engineering and Surveying ----------------- - - - - -- Billing and Collection -------------------------- Interest ---------------------------------------- Prorata Share of General Fund Operating Expenses Total Operating Deductions before Depreciation Net Operating Income (Loss) Before Depreciation LESS: DEPRECIATION (Note 3) ----------------- - - - - -- Net Operating Income (Loss) --------------- - - -- ADD: NON- OPERATING INCOME Interest ----------------------------------------- Service Charges ---------------------------- - - - - -- NET INCOME TO RETAINED EARNINGS Budget Actual Actual Over (Under) Budget $105,000 $123,246 $18,246 - - - - - -- $ 69,300 $ 77,806 $ 8,506 - - - - - -- 5,000 6,572 1,572 - - - - - -- 800 361 ( 439) - - - - - -- 1,500 1,500 -0- ------- 5,750 5,618 ( 132) - - - - - -- 500 -0- ( 500) - - - - - -- 2,000 907 (1,093) - - - - - -- 5,800 5,000 ( 800) - - - - - -- 15,625 15,625 -0- ------- $106,275 $113,389 $ 7,114 $( 1,275) $ 9,857 $11,132 -0- 5,434 5,434 $( 1,275) $ 4,423 $ 5,698 - - - -- $ 4,000 $ 3,616 $( 384) - - - -- -0- 361 361 $ 2,725 $ 8,400 $ 5,675 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 10 - TOWN OF' GULF STREAM, FLORIDA WATER DISTRIBUTION FUND STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED SEPTEMBER 30, 1980 SOURCES OF WORKING CAPITAL From Operations: NetIncome ------------------------------------ --------- ---- ----- --- - - - --- $ 8,400 Add: Expenses not Requiring Working Capital - Depreciation ------------------------- ------------- -- -- --- ---- ------ 5,434 Total Provided from Operations ------------------------------- - - - - -- $ 13,834 USES OF WORKING CAPITAL Decrease in Long -Term Debt ----------------------------------------- - - - - -- 21,275 DECREASE IN WORKING CAPITAL -------------------------------- - - - - -- $( 7,441) CHANGES IN WORKING CAPITAL COMPONENTS Increase (Decrease) in Current Assets Cash -------------------------------------------------- ----------------- $ 2,854 Accounts Receivable -------------------------------------------- -- -- - - -- 5,534 Due From General Fund ------------------------- ---- -------- ------- - - - - -- ( 462) $ 7,926 Increase (Decrease) in Current Liabilities Accounts Payable ----------------------------- ------------- ------- - -- - -- $(19.120) Accrued Interest ------------------------ ---- ----- ----------- -- --- -- - --- 99 Due To General Fund ---------------------------------------------- - - - - -- 13,113 Current Portion of Long -Term Debt -------------------------------- - - - - -- 21,275 $ 15,367 DECREASE IN WORKING CAPITAL -------------------------------- - - - - -- $( 7,441) The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 11 - TOWN OF GULF STREAM, FLORIDA FEDERAL REVENUE SHARING FUND TOWN OF GULF STREAM, FLORIDA FEDERAL REVENUE SHARING FUND BALANCE SHEET SEPTEMBER 30, 1980 ASSETS CURRENT ASSETS Sun First National Bank of Delray Beach TOTAL CURRENT ASSETS RESERVES AND FUND BALANCE RESERVES Reserve for Encumbrances FUND BALANCE Unappropriated --- - - - - -- TOTAL RESERVES AND FUND BALANCE STATEMENT OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED SEPTEMBER 30, 1980 $1,779 $1,779 $ 550 1,229 $1,779 FUND BALANCE, OCTOBER 1, 1979 --------------------- -- ---- ----- ------ ---- - -- - -- $4,122 LESS: Excess Expenditures over Receipts: Expenditures (Page 13) --------------------- - -- --- $3,900 Revenues (Page 13) ---------------------- --- - --- -- 1,557 2,343 1,779 Reserve for Encumbrances, September 30, 1980 ----------------- - - -- -- 550 FUND BALANCE, SEPTEMBER 30, 1980 ----------------------------------- ---- -- ---- $1,229 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 12 - TOWN OF GULF STREAM, FLORIDA FEDERAL REVENUE SHARING FUND STATEMENT OF REVENUE - ESTIMATED AND ACTUAL FOR THE YEAR ENDED SEPTEMBER 30, 1980 Federal Revenue Sharing TOTALS --- - - - - -- STATEMENT OF EXPENDITURES AND ENCUMBRANCES COMPARED WITH AUTfiORIZATIONS FOR THE YEAR ENDED SEPTEMBER 30, 1980 FINANCIAL ADMINISTRATION Accounting Fee - - - - - -- PUBLIC SAFETY Fire Protection Contract ------ - - - - -- TOTALS ---- - - - - -- Reserve $ -0- Actual $3,900 $3,900 Over Estimated Actual (Under) Revenue Revenue Estimated $ 1,550 $ 1,557 $ 7 $ 1,550 $ 1,557 $ 7 STATEMENT OF EXPENDITURES AND ENCUMBRANCES COMPARED WITH AUTfiORIZATIONS FOR THE YEAR ENDED SEPTEMBER 30, 1980 FINANCIAL ADMINISTRATION Accounting Fee - - - - - -- PUBLIC SAFETY Fire Protection Contract ------ - - - - -- TOTALS ---- - - - - -- Reserve $ -0- Credit $3,900 $3,900 $ -0- for Expendi- (Charge) Appropria- Expendi- Encum- Encumbrance tures to Fund tions tures brances 9/30/79 9/30/79 Balance 9/30/80 9/30/80 9/30/80 - -- $550 $550 $ -0- $550 $ -0- $550 $ -0- $ -0- $ -0- $3,900 $3,900 $ -0- $550 $550 $ -0- $4,450 $3,900 $550 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 13 - TOWN OF GULF STREAM, FLORIDA SPECIAL ASSESSMENT FUND TOWN OF GULF STREAM, FLORIDA SPECIAL ASSESSMENT FUND BALANCE SHEET SEPTEMBER 30, 1980 ASSETS TOTALASSETS ------------------------------------ ---------------------- -- -- -- --- $-0- FUND BALANCE FUND BALANCE ------------------------------------ ---- ------------------------- -- $-0- TOTAL FUND BALANCE ------------------------------ ------------------------- -- ---- $-0- STATEMENT OF RECEIPTS AND DISBURSEMENT AND OF CHANGES IN FUND BALANCE FOR THE YEAR ENDED SEPTEMBER 301 1980 FUND BALANCE, OCTOBER 1, 1979 ------------------- ---- -- -- ---- ----- -- --- -- --- ---- $ -0- RECEIPTS: Special Assessments - Residents ------------------- - - - - -- $1,175 General Fund Share of Special Assessment ---------- - - - - -- 1,175 Total Receipts ------------------------------ - - - - -- $2,350 DISBURSEMENTS: Capital Projects - Streets, Storm Drainage -------- - - - - -- 2,350 Excess Revenues (Expenditures) ------------- - - - - -- --------------- - - - - -- -0- FUND BALANCE, SEPTEMBER 30, 1980 ----------------------------------------- - - - - -- $ -0- The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements, - 14 - TOWN OF GULF STREAM, FLORIDA GENERAL FIXED ASSETS GROUP OF ACCOUNTS TOWN OF GULF STREAM, FLORIDA GENERAL FIXED ASSETS STATEMENT OF GENERAL FIXED ASSETS SEPTEMBER 30, 1980 GENERAL FIXED ASSETS Land------------------------------------------------- ---- ----- ----- - - - - - -- $111,085 Structures and Improvements Building - New Town Hall ------------------------------------------ - - - - -- 22,806 Equipment Administration ---------------------------------- - - - - -- $17,780 Public Safety -------------- -- ------------------- - - - - -- 34,222 Sanitation --------------------------- ----- ------ - - - - -- 7,542 Total Equipment -------------------------------------------- ----- - - - - -- 59,544 Street Drainage StormDrainage --------------------------- --------- -`- -- --------- -------- 31,263 Sidewalks, Streets and Highways Street Improvements ----------------------------------------------- - - - - -- 10,503 TOTAL GENERAL FIXED ASSETS ------------------------------------ - - - - -- $235,201 INVESTMENT IN GENERAL FIXED ASSETS General Fund --------------------------------------- ---- ------------ - - - -- -- $ 49,588 Capital Improvement Fund -------------------------------------------- - - - - -- 13,328 Federal Revenue Sharing Fund ---------------------------------------- - - - - -- 8,851 Special Assessment Fund --------------------------------------------- - - - - -- 40,456 Donations---------------------------------- ------------------ ------- - - - - -- 122,978 TOTAL INVESTMENT IN GENERAL FIXED ASSETS ---------------------- - - - - -- $235,201 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 15 - TOWN OF GULF STREAM, FLORIDA GENERAL FIXED ASSETS STATEMENT OF CHANGES IN GENERAL FIXED ASSETS FOR THE YEAR ENDED SEPTEMBER 30, 1980 Federal Special Capital Revenue Assess - General Improvement Sharing ments Total Fund Fund Fund Fund Donations BALANCE, OCTOBER 1, 1979 $230,984 $49,588 $13,328 $8,851 $38,106 $121,111 ADDITIONS: Equipment: Administration 1,867 1,867 Streets - Storm Drainage 2,350 2,350 BALANCE, SEPTEMBER 30, 1980 $235,201 $49,588 $13,328 $8,851 $40,456 $122,978 The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these statements. - 16 - TOWN OF GULF STREAM, FLORIDA NOTES TO FINANCIAL STATEMENTS I TOWN OF GULF STREAM, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1980 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of the Town of Gulf Stream, Florida, conform to generally accepted accounting principles as applicable to governmental units. The following is a summary of the significant policies. BASIS OF ACCOUNTING The accrual basis of accounting is followed by the Water Fund and the modified accrual basis of accounting is followed by all other Funds. GENERAL FIXED ASSETS General fixed assets purchased are recorded as expenditures at the time of purchase. Such assets are capitalized at cost in the General Fixed Assets Group of Accounts. Gifts or contributions are recorded in General Fixed Assets at fair market value at the time received. No depreciation has been provided on General Fixed Assets. 2. The rules of the Florida Auditor General set forth the duties of a municipality for accounting for the assets of the agency from acquisition to final disposi- tion. The fixed assets of the general government, more commonly referred to as the General Fixed Assets Group of Accounts, and the fixed assets of the Water Distribution Fund have been properly recorded on the records of the Town; however, these assets cannot be specifically identified, nor can they be traced from a physical observation to a fixed asset ledger. 3. All water system and distribution equipment is carried at cost, less accumu- lated depreciation. Depreciation is computed on the straight -line method based on an estimated useful life of 50 years for the water distribution system con- structed by the Town and 20 years for equipment used in connection with the water distribution system. The distribution system purchased in Place Au Soleil is being depreciated on a remaining estimated useful life of 40 years. The accumulated depreciation at September 30, 1980 amounted to $59,018. Deprecia- tion for the period October 1, 1979 to September 30, 1980 amounted to $5,434. 4. The Water Distribution Fund share of General Fund expenditures is based on Resolution No. 79 -3 passed September 6, 1979, to allocate expenditures of the General Fund to the Water Distribution Fund. 5. The Town of Gulf Stream, Florida, obtained an unsecured loan from the Barnett Bank of Delray Beach, N.A. for the improvement of the water distribution system which was completed in 1978. The loan is due July 21, 1986, and as of September 30, 1980, $110,860. is still outstanding, $24,000. of which has been included in the 1980 - 1981 budget to be repaid in the coming year. Interest is computed at 4.51% and is payable quarterly. The loan, with interest, is to be repaid from revenues generated by the Water Fund. If the Water Fund does not produce sufficient funds to repay the loan, Resolution 77 -1 passed by the Town Commission allows the Town to assess a tax at an annual rate not to exceed ten mills of assessed value on all property subject to taxation by the Town. - 17 - TOWN OF GULF STREAM, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1980 f. On March 28, 1952 the land on which the present Town Hall is located was donated to the Town to "... be used only as a site for a town hall, fire station, police station or like public purposes..." This land has not been assigned a monetary value in that its value as of the date of donation has not been determined. Since the land was donated to the Town and not purchased, only the General Fixed Assets Fund is affected by this omission. 7. The Town Commission has adopted a pension plan for those employees who are at least 25 years of age and have completed one year of service as of the effec- tive date or a succeeding eligibility date. The plan is a participating defined - contribution plan whereby each covered employee is required to contribute 5% of base wage matched by an equal amount contributed by the Town. The pension cost for the current year was $5,114. 8. A special assessment, originally proposed January 12, 1979, was collected during the current year to install drainage on Oleander Way. The project was funded half by the Town and half by the eight residents affected by the improvements. The project was begun and completed during the current year. 9. As of September 30, 1980 there were no lawsuits pending against the Town and no known contingencies which would have a material effect on the financial position of the Town. Of the two lawsuits pending against the Town as of September 30, 1979, one was dismissed on November 2, 1979 and the other was settled in favor of the Town. - 18 - TOWN OF GULF STREAM, FLORIDA SUPPLEMENTAL SCHEDULE A a 0 w E� E U) O U 3Z4O E N C O N .' w w N >1 H E > H O N w° j p O 1 w U ro N 7 o a •.i U -.i H roi N .1 N a+ N G/ ro H W G) N •.i S b C w u 4J > ru N H o 'O •.Gi U E N o E O H b C w ro w > rd > - ) O 1 41 NN b 1 w N H '-I w ro ro >. 0 c+ O> G W N q N 0 •rl ro 0 0 O� ro x ro a £ e WG a 0 Q) N4 0, U cl X U a 44 N H w r Cl H 0 O C 3 0 � W W O 0 r U H vi ° 3 b 0 F F b F U W y O 0 .1 H .4 a N C •.Hi i� .w-I H •H .I C H b HH � a) .i -W li •HH N b N -.i v c° N o u 01 4 ' ro u a w w ro U a u w ro o .-{ H 11 G w N '0 21 Si G C Yi D+ N O N N Q) w O= 4J 4J w w 0 w w w O O G 14 ij w N G Cl N 1. H 11 P � i! C N w I!1 C X O W U w w C7 1-I a 7 'O Q •.I w Si a m 7 �, w w 7 u M •.i 41 U v!• w U O H O a ro 'o U •,I u O .i o I •.i 0❑ a� u O 1tl b N 5 E O O it w U w U JJ U w ii U w U w 'N-I I ,!� 4 J% 0 w w > O > ro 0 u> ro U > O> O \\ 0 0 •'I � 4 11 ti 7 G it 0 10 Si o U O C N w to > •.i\ •'I \£ ro-.i> •.1 \•'1\ O 0 w W O N C: Z O N O N O \ N I M O N O O O a U C O Cw+ •.i 1 H U C0 C 0'00 C C C O G O . O •,1 p4 ro U m w H w 0 w 0 4 . w 0 YI O w 0 4 .If w 0 w 0 ro • 0 0 10 0 0 0 1 ,C w 0 w 0 0 - w N •C .0 • H w 0 w O H 0 o 0 0 CC O O ro . O U >r J-j O 41 Kt Sd li O Si O N O 11 •,A Si O H O w • • i0 O N 7 w C CL •n O 01 H a H C N a H R -;P a C p 11 ul o 7 r f"1 O r r H 01 C ro Si W O H 0 O G u 0 O u 0 N ° z w w H m O O O O N \ m m m m co m In 4J H I \ \ \ \ 1-1 A O o o O p \0 H H H H H m uo m o o T r 0 r co m m m m \ \ \ \ \ m H W NE N "o 'I o Vl l0 m IV 01 m U H w C 0 O O H N w N 01 C Q U N u U a° z w 0 p Hv c z H o r m w 0 I G H o C £ 07 W td � H f�EE�{ H O 0 GU t411 W y� 7 A Rai y U U U G Vw] 1°i U > £ > N Dw N W U Q �J 114 Tri X a N b y £ N b ro ro N Si .r 7 N p '� b y>"j Si •.i b •rl N H it g 0 ro Swi l H jy° O ro Si W -.I b o yoi •Hi i4 u o N rI c aro a v m[ s v 41 w a '.i £" "i x x H H 'i r ro rd "i £ H wa•.i a Z TOWN OF GULF STREAM, FLORIDA AUDIT COMMENTS SEPTEMBER 30, 1980 1 DAN W. WARD CERTIFIED PUBLIC ACCOUNTANT SUITE 505, FIRST BANK BUILDING Member of POST OFFICE DRAWER 1240 The Florida Institute of DELRAY BEACH, FLORIDA 33444 Certified Public Accountants TELEPHONE (3051 2793214 Mayor and Town Commission Town of Gulf Stream Gulf Stream, Florida Member of The American Institute of Certified Public Accountants In accordance with Chapter 10,500 of "The Rules of the State Auditor General ", I hereby submit my comments relating to certain material items found during my examination of the Town's financial statements. During my examination of the books and records, no material deficiencies were discovered nor were any illegal or improper expenditures discovered. Material errors were found in the financial report filed with the Department of Banking and Finance for the year ended September 30, 1979, when compared with the audited financial statements for the same year. Exhibit A -2, "Govern- mental Fund Types" included $ 112,808, of revenues earned by the Water Fund, an enterprise fund, and $ 130,457, of Water Fund expenditures. Also included in General Fund expenditures was $ 15,625, which was to be allocated to the Water Fund per Resolution 78 -9, passed September 27, 1978, as the Water Fund share of General Fund expenses. The Water Fund was reported correctly in Exhibits B -1 and B -2. Federal Revenue Sharing receipts of $ 1,562. were reported in the General Fund but expenditures totaling $ 5,397, were not reported. The Town does not have a written plan of organization specifying the division of duties and areas of responsibilities concerned with accounting and admin- istrative controls, nor does the Town have a written manual stating the policies and procedures covering all phases of financial management. I recommended in last year's and prior audits that receipts be recorded as received and that deposits be made on a more timely basis, preferably daily. I again make the recommendation that receipts be recorded on the Daily Cash Report at the time of receipt and any supporting data be cancelled by recording the date payment was received and the amount of payment. Also, in accordance with Chapter 10.500, the Town Manager is required to file with the Town Commission and with the Auditor General, within twenty days of the receipt of this report, a written statement of explanation or rebuttal concerning the auditor's comments, including corrective action to be taken if necessary, )a, ��) . �� Delray Beach, Florida November 19, 1980 RESOLUTION NO. 80 -2 A RESOLUTION OF THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, PALM BEACH COUNTY, FLORIDA, PROVIDING FOR ADOPTION OF A BUDGET FOR THE TOWN'S FISCAL YEAR COMMENCING OCTOBER 1, 1980, AND ENDING ON SEPTEMBER 30, 1981, AND AUTHORIZING A PRO RATA SHARE OF GENERAL FUND EXPENSES TO BE BORNE BY THE WATER FUND FOR SAID FISCAL YEAR TERMINATION OF SEPTEMBER 30, 1981. BE IT RESOLVED BY THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, FLORIDA, That: (1) The BUDGET for the Town of Gulf Stream, for the Fiscal Year commencing October 1, 1980 and ending on September 30, 1981, detailing COPY of which attached hereto and forming a part hereof, reflecting, in part, total estimated General Fund and Water Fund expenses for said Fiscal Year in the amounts of $332,180 and $131,540 respectively, be hereby approved and adopted, disbursements for which to be made ONLY under the catagories of anticipated expenses in the identified classifications of expenditures as set forth in said Budget and for no other purposes than those for which they are appropriated unless so authorized for Act of the Commission of the Town of Gulf Stream. (2) The sums of monies set forth Under Estimated Revenue in the attached Budget by, and hereby are, approved for the purpose of providing sufficient and necessary funds for operation and maintenance of the Town during said Fiscal Year commencing October 1, 1980. BE IT FURTHER RESOLVED that, in lieu of there being any Water Department personnel, the administration, functioning within the General Fund, performs all necessary services relating to: (a) Determing Water consumption of individual properties by reading meters. (b) Billing of Water Charges; (c) Collection of said Charges; and (d) Maintaining proper accounting of all funds accumulating to said Water Fund. It is, therefore, determined that the following amounts shall be paid by the Water Fund to the General Fund for said Fiscal Year commencing October 1, 1980 and ending on September 30, 1981. Pro rata share of Administration Expense $14,550.00 Pro rata share of Police Department Expense 2,640.00 PASSED AND ADOPTED on this 29 day of September, 1980. ATTEST: MAYOR VICE MAYOR 7MMISSIONER COMMISSIONER COMMISSIONER Deputy Town Cl rk MAYOR VICE MAYOR 7MMISSIONER COMMISSIONER COMMISSIONER RESOLUTION NO. 80 -3 A RESOLUTION OF THE TOWN CO "1 *- IISSION OF THE TOWN OF GULF STREAM, PALM BEACIi COUNTY, FLORIDA, ADOPTING A TENTATIVE BUDGET FOR THE FISCAL YEAR 1980 -1981. WHEREAS, Section 200.055(2)(g) 2, Florida Statutes, was amended in the special session of the 1980 legislative session by Senate Bill 18E to allow local government to readopt and temporarily expend in accordance with its prior year budget if a new budget has Inot been adopted by the beginning of the new fiscal year; and WHEREAS, a new budget will not be adopted by October 1, 1980 by the Town Commission; NOW THEREFORE, BE IT RESOLVED BY THE TOWN COMMISSION OF THE TOWN OF GULF STREAM, PALM BEACH COUNTY, FLORIDA, as follows: 1. The fiscal year 1979 -80 budget by the Town Commission is hereby readopted for the purpose of temporarily expendinq_ funds and Resolution No. , adopted on , 1979, is hereby adopted in its entirety by reference. 2. The expenditures authorized in Resolution shall be in force and effect until a Fiscal Year 1980 -81 budget is adopted. PASSED AND ADOPTED this 29 day of September 1980. MA --r- AS AND CONSTITUTING THE TOWN COMMISSION OF THE TOWN OF ST: GULF STREAK =1, FLORIDA