HomeMy WebLinkAbout01-19-1982 Special MeetingSTATE OF ALABAMA X
COUNTY OF BALDWIN X
We, the undersigned members of the Fairhope City Council,
do hereby waive notice of a special called meeting to be held
19 January 1982 at 5:30 PM, City Administration Building,
387 Fairhope Avenue, Fairhope, Alabama, for the purpose of
receiving the 1980-1981 City Audit Report, reviewing any
recommendations the Auditors may make, and receiving a report
on bids opened at 2:00 PM, this date, on blockwork at the
Civic Center complex.
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STATE OF ALABAMA X
COUNTY OF BALDWIN X
The City Council, City of Fairhope, met in special session
at 5:30 PM, City Administration Building, 387 Fairhope Avenue,
Fairhope, Alabama 36532, on Tuesday, 19 January 1982.
Present were Mayor James P. Nix; Councilmembers Sam E. Box,
Trisha Nelson, Roy C. White, C. 0. McCawley, and David E. Bishop;
City Clerk Evelyn P. Phillips, City Accountant Richard Dunning,
and City Building Official Bob Lunsford. Also present were
Mr. Ken Hanak and Mr. Tom Fickling of Parker, Fickling and Jordan,
the City's auditing firm.
The purpose of this meeting was to receive the 1980-1981
City Audit, to receive any recommendations the Auditors might
make, and to review bids on blockwork at the Civic Center project.
After reviewing the complete Audit, Councilman McCawley
moved to accept the Audit as presented. Seconded by Councilman
Box, motion passed unanimously. The Auditors said the City was
in excellent condition; the Council thanked the auditors for
a thorough and comprehensive audit report.
The auditors offered only one recommendation to the Council,
the need for a perpetual inventory system. After some discussion,
Councilman Box moved to approve the employment of one additional
person, at beginning Clerk's salary, for clerical work at the
warehouse; and to begin establishment of a complete inventory
system using experienced personnel. Seconded by Councilwoman
Nelson, motion passed unanimously.
Mr. Lunsford reported that two bids were received on the
Civic Center complex blockwork and that both were not presented
on the proper bid form. Councilman Bishop moved to reject both
bids and readvertise for bids. Seconded by Councilman Box,
motion passed unanimously.
Councilman Box moved to hear Councilman White on a matter
of old business. Seconded by Councilman McCawley, motion passed
unanimously:
Councilman White reported on his meeting with County officials
regarding clean-up and leveling work to be done in Big Head
Gully. The land is partly within the corporate limits and partly
outside. Councilman White moved to authorize the Mayor to write
the Baldwin County Commissioners requesting their help on this
project, offering them diesel fuel for their heavy equipment and
a letter of indemnification. Councilman McCawley seconded the
motion which passed unanimously.
Meeting was duly adjourned.
City CAerk
FAIRHOPE PUBLIC LIBRARY
FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
FAIRHOPE PUBLIC LIBRARY
SEPTEMBER 30, 1981
CONTENTS
Accountants' opinion
Financial statements:
Page
1
Statement
of
assets, liabilities and fund balance 2
Statement
of
changes in fund balance 3
Statement
of
cash receipts and cash disbursements 4
Notes to the financial statements
z
5
PARKER, FICKLING 8 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
1
PARKER, FICKLING & JORDAN, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
FAIRHOPE, ALABAMA
SAMUEL F. PARKER
LESLIE T. FICKLING
H. ALLEN JORDAN
XAVIER A. HARTMANN, III
J. KENNETH HANAK
DONALD G. CHASTAIN
ACCOUNTANTS' OPINION
December 2, 1981
Fairhope Public Library
Fairhope, Alabama
MEMBER, AMERICAN INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS
We have examined the statement of assets, liabilities and fund
balances of the Fairhope Public Library as of September 30, 1981 and 1980
and the related statements of changes in fund balance and cash receipts
and cash disbursements for the years then ended. Our 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 we considered necessary in the circumstances.
The accompanying statements were prepared on the cash basis of
accounting.
In our opinion, the aforementioned statements present fairly the
assets, liabilities and fund balance of the Fairhope Public Library at
September 30, 1981 and 1980, arising from cash transactions and the revenues
collected and expenditures made by it during the years then ended on a con-
sistent basis.
&4, , �c,
Certified Public Accountants
PARKER. FICKLING 8 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS. P.C.
2
FAIRHOPE PUBLIC LIBRARY
STATEMENT OF ASSETS, LIABILITIES AND FUND BALANCE
SEPTEMBER 30, 1981 AND 1980
ASSETS
1981 1980
CASH
First National Bank of Baldwin County $ 9,409 $ 5,800
Baldwin County Savings and Loan Association:
Savings account - regular 4,386 5,107
Equipment Replacement Fund Savings 1,720 1,628
Certificate of deposit 24,765 22,148
Total cash 40,280 34,683
RECEIVABLES
City of Fairhope (Note 1) - 1,088
State Department of Industrial Relations 219 -
Total receivables 219 1,088
TOTAL ASSETS $ 40,499 $ 35,771
LIABILITIES AND FUND BALANCES
LIABILITIES
Employees' payroll taxes withheld $ 131 $ 5
FUND BALANCE 40,368 35,766
LIABILITIES AND FUND BALANCE $ 40,499 $ 35,771
See notes to the financial statements.
PARKER, FICKLING i JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
3
FAIRHOPE PUBLIC LIBRARY
,
STATEMENT
OF CHANGES IN
FUND BALANCE
FOR THE YEARS ENDED SEPTEMBER
30, 1981
AND 1980
1981
1980
Over
(Under)
Actual
Budget
Budget
Actual
FUND
BALANCE,
AT BEGINNING
OF
YEAR
$ 35,766
$ 35,766
$
$ 34,737
Add:
Excess
cash receipts
over
cash disbursements
4,602
-
4,602
1,029
FUND
BALANCE,
AT END OF YEAR
$ 40,368
$ 35,766
4,602
$ 35,766
See notes to the financial statements.
PARKER, FICKLING f JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
4
FAIRHOPE PUBLIC LIBRARY
STATEMENT OF CASH RECEIPTS AND CASH DISBURSEMENTS
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
1980
Over
(Under)
Actual
Budget
Budget
Actual
RECEIPTS
City of Fairhope
$ 65,250
$ 65,243
$ 7
$ 58,100
Fines
2,149
2,000
.149
1,664
Lost Books
217
-
217
70
Gifts and memorials
3,743
3,500
243
1,298
Copier receipts .
2,902
2,000
902
3,329
Meeting room rent
560
500
60
455
Memberships - out of city
2,122
1,500
622
1,177
Interest income
2,952
2,356
596
2,507
Miscellaneous income
185
-
185
83
Total receipts
80,080
.77,099
2,981
68,683
DISBURSEMENTS
Salaries
33,763
34,468
(705)
30,275
Payroll taxes
5,037
2,113
2,924
2,513
Book purchases
11,126
13,000
(1,874)
14,470
Periodicals
3,015
2,739
276
2,864
Supplies and postage
4,333
2,800
1,533
3,421
Telephone
614
800
(186)
612
Utilities
3,888
3,600
288
3,457
Repairs and maintenance
1,204
1,000
204
957
Janitorial service
1,215
1,200
15
1,200
Audit
375
375
-
300
Dues and registration
110
140
(30)
91
Miscellaneous
428
400
28
225
Travel and conventions
343
300
43
204
Audio visual and film circuit
1,597
2,980
(1,383)
2,806
Accounting and legal fees
1,225
1,200
25
1,200
Furniture and equipment (Note
2) 2,425
2,000
425
1,291
Rent
462
461
1
462
Children's programs
1,291
410
881
585
Insurance, casualty
85
1,000
(915)
85
Publicity
220
200
20
163
Employees' hospitalization
insurance
845
1,057
(212)
89
Employees' retirement
1,877
2,500
(623)
384
Interest
-
2,356
(2,356)
-
Total disbursements
75,478
77,099
(1,621)
67,654
EXCESS CASH RECEIPTS OVER
DISBURSEMENTS
$ 4,602
$ -
4,602
$ 1,029
See notes to the financial statements.
PARKER, FICKLING 6 JORDAN. CERTIFIED PUBLIC ACCOUNTANTS,' P.C.
5
FAIRHOPE PUBLIC LIBRARY
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 1 RECEIVABLE, CITY OF FAIRHOPE
The receivable from the City of Fairhope at September 30, 1980 re-
presents the balance.due from the monthly appropriation for September 1980.
NOTE 2 FURNITURE AND EQUIPMENT PURCHASES
Equipment purchases for the year ended September 30, 1981 consisted
of the following:
Equipment Amount
Curb side book return $ 715
Adder and accessories 672
2 trays with base and top 1,038
TOTAL $ 2.425
PARKER, FICKLING t JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
PARKER. FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS. P.C.
CITY OF FAIRHOPE, ALABAMA
SEPTEMBER 30, 1981
TABLE OF CONTENTS
Accountants' opinion
General Purpose Financial Statements - combined
statements overview:
Combined balance sheet - all fund types and
account groups
Combining balance sheet - all special revenue funds
Combined statement of revenues, expenditures and
changes in fund balnces - General, Special Revenue,
Special Assessment Fund, and Capital Project
Combined statement of revenues, expenditures and
changes in fund balances - budget and actual -
General, Special Revenue, Special Assessment
Fund and Capital Project
Combining balance sheet - All Proprietary Fund types
Combined statement of income and retained earnings all Proprietary Fund types
Combined statement of changes in financial position all Proprietary Fund types
Account Groups
General Fixed Assets
Statement of general fixed assets
Statement of changes in general fixed assets
General Long Term Debt
Statement of general long term debt
Notes to the financial statements
(continued)
Page
1 - 2
3 - 4
5
6
7
8 - 9
10 - 11
12-13
14
15
16
17-30
PARKER, FICKLING d JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
SEPTEMBER 30, 1981
TABLE. OF CONTENTS (continued)
Supporting Schedules:
Additional financial information
Individual Fund and Account Group Financial Statements
General Fund
Balance sheet
Statement of changes in fund balance
Statement of revenues - actual and budget
Statement of expenditures - actual and budget
Special Revenue Funds:
Federal Revenue Sharing Fund
Balance sheet
Statement of revenue, expenditures and
changes in fund balance - actual and budget
State of Alabama Gasoline Excise Tax Funds
Balance sheet
Statement of revenue, expenditures and changes in
fund balance - actual and budget
Recreation Operating Fund
Balance sheet
Statement of revenue, expenditures and changes in
fund balance - actual and budget
Recreation Capital Improvement Fund
Balance sheet
Statement of revenue, expenditures and changes in
fund balance - actual and budget
Capital Project Fund
Civic Center
Balance sheet
Statement of revenue, expenditures and changes in
fund balance - actual and budget
Special Assessment Fund
Balance sheet
Statement of revenue, expenditures and changes in
fund balance - actual and budget
Proprietary Funds
Enterprise Funds:
Electric Fund
Balance sheet
Statement of income and retained earnings -
actual and budget
(continued)
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
Page
31
32
33
34
35-38
39
40
41
42
43
44 - 45
46
47
48
49
50
51
52
53
CITY OF FAIRHOPE, ALABAMA
SEPTEMBER 30, 1981
TABLE OF CONTENTS (continued)
Proprietary Funds (continued):
Enterprise Funds:
Natural Gas Fund
Balance sheet
Statement of income and retained earnings -
actual and budget
Water and Wastewater Fund
Balance sheet
Statement of income and retained earnings -
actual and budget
Page
54
55
56
57
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
SAMUEL F. PARKER
LESLIE T. FICKLING
H. ALLEN JORDAN
XAVIER A. HARTMANN, III
J. KENNETH HANAK
DONALD G. CHASTAIN
1
PARKER, FICKLING & JORDAN, P.C.
CERTIFIED PUBLIC ACCOUNTANTS
FAIRHOPE, ALABAMA
ACCOUNTANTS' OPINION
November 17, 1981
Honorable James P. Nix, Mayor and
Members of the City Council
City of Fairhope, Alabama
MEMBER, AMERICAN INSTITUTE OF
CERTIFIED PUBLIC ACCOUNTANTS
We have examined the combined financial statements of the City of
Fairhope, Alabama and the combining, individual fund, and account group financial
statements of the City of Fairhope, Alabama as of and for the year ended September
30, 1981, as listed in the table of contents. Our examination was made in
accordance with generally accepted auditing standards and, accordingly, included
such tests of the accounting records and such other auditing procedures as we
considered necessary in the circumstances.
The accompanying financial statements do not include the assets,
liabilities, or revenues and expenditures of the Fairhope Public Library Board of
the City of Fairhope, Alabama. The financial statements of the Fairhope Public
Library Board are submitted under separate cover.
In our opinion, the combined financial statements referred to above
present fairly the financial position of the City of Fairhope, Alabama at
September 30, 1981, and the results of its operations and changes in financial
position of its proprietary fund types for the year then ended, in conformity with
generally accepted accounting principles applied on a basis consistent with that
of the preceding year. Also, in our opinion, the combining, individual fund, and
account group financial statements referred to above present fairly the financial
position of the individual fund and account groups of the City of Fairhope,
Alabama at September 30, 1981, and the results of operations of such funds and
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.
(continued)
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
our examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole and on the combining, individual
fund, and account group financial statements. The accompanying financial infor-
mation listed as supporting schedules on the table of contents is presented for
purposes of additional analysis and is not a required part of the combined
financial statements of the City of Fairhope, Alabama. The information has been
subjected to the auditing procedures applied in the examination of the combined,
combining, individual fund, and account group financial statements and, in our
opinion, is fairly stated in all material respects in relation to the combined
financial statements taken as a whole.
P4 j '�4 4 �� I /161
Certified Public Accountants
PARKER, FICKIING B JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
SEPTEMBER 30, 1981
Governmental Fund Types
Special Special
ASSETS General Revenue Assessment
CASH:
,First National Bank of Baldwin County $ 254,233 $ 57,004 $ 234,940
Sinking Fund - Merchants National Bank
of Mobile 30,654 62,795
On hand 200 160
RECEIVABLES (net of allowance for uncollectible)
Utility customers
Miscellaneous 14,985
Federal Emergency Management Agency 119,811
Federal Disaster Assistance Administration
Federal Aviation Administration
State of Alabama 25,346
Street improvement assessments 19,895 370,119
Notes receivable 167,952
MATERIALS INVENTORIES
PREPAID OPERATING EXPENSES
DUE FROM THE OTHER FUNDS OF THE CITY
OF FAIRHOPE 111,494 67,991
SINKING FUNDS - Restricted cash and invest-
ments, Merchants National Bank of Mobile
PROPERTY, PLANT AND EQUIPMENT:
Land, buildings and other improvements
Vehicles and equipment
Plant and distribution system
Construction in progress
Accumulated depreciation
UNAMORTIZED DEBT COST
UNAMORTIZED DEFERRED PLANT MAINTENANCE
AMOUNT AVAILABLE IN DEBT SERVICE FUNDS
AMOUNT TO BE PROVIDED FOR RETIREMENT
OF GENERAL LONG TERM DEBT
TOTAL ASSETS $ 719,224 $ 150,501 $ 667,854
(continued)
PARKER, FICKIING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
K3
Proprietary Account Groups
Fund Types General General
Capital Fixed Long Term
Projects Enterprise Assets Debt
$ 60,646 $ 1,573,920 $ $
97,184
281,564
229 17,739
2,750
202,434
23,402
174,164
250,091
Total s
(Memorandum Only)
September 30,
1981 1980
$ 2,180,743 $ 1,366,098
190,633 182,075
360 150
281,564
32,953
122,561
25,346
590,014
167,952
202,434
23,402
353,649
250,091
4,922,239 4,922,239
454,854 509,596 964,450
9,067,388 9,067,388
1,580,070 1,580,070
(2,991,253) (2,991,253)
12,480 12,480
18,962 18,962
- 82,173 82,173
1,309,127 1,309,127
$ 60,875 $10,765,749 $ 5,431,835 $ 1,391,300 $19,187,338
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
274,996
46,332
183,683
81,976
40,733
6,879
473,039
165,062
23,345
261,446
242,612
3,938,196
778,120
8,332,357
212,744
(2,712,836)
14,384
25,454
75,473
999,827
$15,012,145
CITY OF FAIRHOPE, ALABAMA
ALL FUND TYPES AND ACCOUNT GROUPS
COMBINED BALANCE SHEET
SEPTEMBER 30, 1981
LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts payable, trade
Contracts payable
Accrued expenses and taxes:
Payroll taxes
Employees' retirement
Interest
Utility taxes _
Town of Daphne
All other
CUSTOMER DEPOSITS
DUE TO THE FUNDS OF THE CITY OF FAIRHOPE
NOTE PAYABLE - First National Bank of
Baldwin County
NOTE PAYABLE - McGowin Trusts
GENERAL OBLIGATION BONDS, WARRANTS AND
MORTGAGE PAYABLE
REVENUE BONDS, NOTE AND GENERAL
OBLIGATION WARRANTS PAYABLE
TOTAL LIABILITIES
FUND EQUITY
Contributed capital:
From other funds of the City
United States Government
Customers and developers, etc.
Investment in general fixed assets
Retained earnings
Fund balance
TOTAL FUND EQUITY
TOTAL LIABILITIES AND FUND EQUITY
Governmental Fund Types
Special Special
General Revenue Assessment
$ 43,852 $ 10,846 $
44,416
8,177 194
8,968
4,875
12,302 523 106,430
146,001
523,700
268,591 11,563 630,130
450,633 138,938 37,724
450,633 138,938 37,724
$ 719,224 $ 150,501 $ 667,854
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
4
Proprietary
Account
Groups
Totals
Fund Types
General
General
(Memorandum
Only)
Capital
Fixed
Long Term
September
30,
Projects
Enterprise
Assets
Debt
1981
1980
S.
$ 357,731
9
$
$ 412,429 $
448,756
164,454
208,870
71,281
6,025
14,396
15,576
7,971
16,939
15,006
60,329
60,329
33,604
19,204
19,204
17,416
6,150
6,150
17,844
146
5,021
792
233,428
233,428
249,769
234,394
353,649
261,446
146,001
146,001
49,466
1,391,300
1,915,000
1,660,000
4,212,000
4,212,000
2,147,000
5,301,832
1,391,300
7,603,416
5,133,957
38,147
38,147
-
1,077,352
1,077,352
1,069,.106
910,282
910,282
534,045
5,431,835
5,431,835
4,398,660
3,438,136
3,438,136
3,114,899
60,875
688,170
761,478
60,875
5,463,917
5,431,835
11,583,922
9,878,188
9 60,875
$10,765,749
$ 5,431,835
$ 1,391,300
$19,187,338 $15,012,145
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING d JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ALL SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1981
ASSETS
Revenue State
Recreation
Recreation
CASH
Sharing Gasoline Tax
Operating
Improvement
In First National Bank of
Baldwin County
$ 2 $ 24,190
$ 10,286
$ 22,526
On hand
160
RECEIVABLES
Due from other funds of the City
67,991
State of Alabama
25,346
Miscellaneous
TOTAL ASSETS
$ 2 $ 92,181
$ 10,446
$ 47,872
LIABILITIES'AND FUND BALANCE
LIABILITIES
Accounts payable, trade $
$ 1,962
S 3,894
$ 4,990
Payroll taxes payable
194
e
Payable - City of Fairhope
General Fund
523
TOTAL LIABILITIES
1,962
4,611
4,990
FUND BALANCE
2 90,219
5,835
42,882
TOTAL LIABILITIES AND FUND BALANCE $
2 $ 92,181
$ 10,446
$ 47,872
PARKER, FICKLING B JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
5
Total
(Memoranda
Septemh
1981
$ 57,004
160
67,991
25,346
$ 150,501
$ 10,846
194
523
11,563
138,938
$ 150,501
The notes to the financial statements are an in
PARKER, PICKLING i JORDAN, CERTIFIED 1
CITY OF FAIRHOPE, ALABAMA
GENERAL, SPECIAL REVENUE, SPECIAL ASSESSMENT AND CAPITAL PROJECT
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET kND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 1981
REVENUES
Taxes
Licenses and permits
Fines and forfeitures
State of Alabama
United States Government
Interest and rents
Charges for services
Other revenue
Loan proceeds
Transfers from utility funds
Transfer from other funds
Total revenues
EXPENDITURES
General government
Beach department
Sanitation department
Police department
Fire department
Street department
Staff agencies and other
Debt service payments
principal
Interest
Other expenditures
Transfers to other governmental
fund types
Recreation department
Total expenditures
EXCESS OF REVENUE OVER (UNDER)
EXPENDITURES
FUND BALANCE AT BEGINNING OF YEAR
ASSESSMENT OF CUSTOMERS FOR
SEWER LINE CONSTRUCTED
TRANSFER OF COMPLETED CONSTRUCTION
OF SEWER LINE TO WATER AND
WASTE WATER FUND
FUND BALANCE AT END OF YEAR
Actual
General Fund
Budget
Over(Under)
Budget
$ 288,772
$ 241,500
$ 47,272
197,433
174,300
23,133
69,826
70,000
(174)
89,626
98,800
(9,174)
443,097
550,000
(106,903)
48,459
34,520
13,939
106,896
104,300
2,596
42,510
36,700
5,810
510,000
498,000
12,000
1,796,619
1,808,120
(11,501)
298,527
228,637
69,890
10,726
12,400
(1,674)
123,332
95,500
27,832
372,165
329,650
42,515
87,061
105,700
(17,639)
376,085
350,050
26,035
17,723
12,644
5,079
69,000
40,000
29,000
58,275
50,000
8,275
473,519
611,111
(137,592)
1,886,413
51,721
1,834.692
(89,794)
(26 372)
(63,222)
578,574
578,574
-
249,749
249,749
(287,896)
(287,896)
$ 450,633
$ 552.002
$-CM 369)
The accompanying notes are an integral part of this statement.
Special Revenue Funds
Actual
Budget
Over(Under)
Budget
$ 91,735
$ 84,000
$ 7,735
101,860
40,000
61,860
48,854
53,000
(4,146)
5,722
2,000
3,722
563
563
21,318 21,318
270,052 179,000 91,052
35,443
10,000
25,443
48,853
53,000
(4,147)
15,000
15,000
13,698
14,000
(302)
4,500
4,500
137,935
57,000
80,935
255,429
149,000
106,429
14,623
30,000
(15,377)
124,315
124,315
-
$ 1J8.938 $ 154,315 $ (15.377)
PARKER. FICKLING 6 JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
0
Special Assessment Fund
Over(Under)
Actual Budget Budget
66,693 40,000 26,693
66,693 40,000 26,693
32,835 36,000 (3,165)
937 950 (13)
33,772 36,950 (3,178)
32,921 3,050 29,871
4,803 4,803 -
Capital Projects Fund
Over(Under)
Actual Budget Budget
7,089
7,089
400,000
400,000
407,089
407,089
400,000 400,000
400,000 400,000
7,089 7,089
53,786 53,786 -
$ 37.724 $ 7.853 $ 29,871 $ 60,875 $ 53,786 $ 7,089
Totals
(Memorandum Only)
Over(Under)
Actual
Budget
Budget
$ 380,507
$ 325,500
$ 55,007
197,433
174,300
23,133
69,826
70,000
(174)
191.486
138,800
52,686
491,951
603,000
(111,049)
127,963
76,520
51,443
106,896
104,300
2,596
43,073
36,700
6,373
400,000
400,000
510,000
498,000
12,000
21,318
21,318
2,540,453
2,027,120
513,333
298,527
228,637
69,890
10,726
12,400
(1,674)
123,332
95,500
27,832
372.165
329,650
42,515
87,061
104,700
(17,639)
411,528
360,050
51,478
66,576
65,644
932
84,000
55,000
29,000
104,808
100,000
4,808
874,456
612,061
262,395
4,500
4,500
137,935
57,000
80,935
2,575.614 2,020,642 554.972
(35,161) 6,478 (41,639)
761,478 761,478 -
249,749 249,749
(287,896) (287,896)
$ 688.170 $_Z6 -UA $ (79,786)
PARKER, FICKLING d JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
GOVERNMENTAL FUNDS
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED SEPTEMBER 30, 1981
REVENUES
Taxes
Licenses and permits
Fines and forfeitures
State of Alabama
United States Government
Interest and rents
Charges for services
Other revenue
Loan proceeds
Transfers from Utility Funds
Transfer from General Fund
Transfer from other funds
Total revenues
EXPENDITURES
General government
Beach department
Sanitation department
Police department
Fire department
Street department
Staff agencies and other
Debt service payments
Principal
Interest
Other expenditures
Transfers to other governmental fund
types
Recreation department
Total expenditures
EXCESS REVENUES OVER (UNDER) EXPENDITURES
FUND BALANCE AT BEGINNING OF YEAR
1977-1978 Assessment rolls
Transfer of completed construction of
special assessments
Assessment of customers for sewer line
constructed
Transfer of completed construction of
Governmental Fund Types
Special Special
General
Revenue Assessment
$ 288,772
$ 91,735 $
197,433
69,826
89,626
101,860
443,097
48,854
48,459
5,722 66,693
106,896
42,510
563
510,000
21,318
1,796,619 270,052 166,693
298,527
10,726
123,332
372,165
87,061
376,085 35,443
17,723 48,853
69,000 15,000
58,275 13,698 32,835
473,519 937
4,500
137,935
1,886,413 255,429 133,772
(89,794) 14,623 32,921
578,574 124,315 4,803
249,749
sewer line to water and wastewater fund (287,896)
FUND BALANCE AT END OF YEAR $ 450,633 $ 138,938 $ 37,724
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
N
Capital
Proiect
S
7,089
400,000
407,089
400,000
400,000
7,089
53,786
Totals
(Memorandum Only)
Year ended
September 30,
1981
1980
$ 380,507
$ 335,060
197,433
167,347
69,826
64,537
191,486
104,319
491,951
649,028
127,963
80,377
106,896
104,245
43,073
119,189
400,000
70,000
510,000
584,843
50,000
21,318
7,000
2,540,453 2,335,945
298,527
212,268
10,726
15,884
123,332
96,173
372,165
313,338
87,061
102,865
411,528
569,613
66,576
61,924
84,000
55,000
104,808
99,236
874,456
607,286
4,500
57,000
137,935
94,030
2,575,614 2,284,617
(35,161) 51,328
761,478 692,826
- 257,613
- (240,289)
249,749 -
(287,896) -
$ 60,875 $ 688,170 $ 761,478
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALBAMA
ALL PROPRIETARY FUNDS
COMBINING'BALANCE SHEET
SEPTEMBER 30, 1981
Water and
Electric
Natural Gas
Wastewater
ASSETS
Fund
Fund
Fund
CURRENT ASSETS
Cash in First National Bank of
Baldwin County:
Operating accounts
$ 229,732
$ 24,027
$ 8,031
Interest bearing accounts
235,043
155,925
869,154
Construction accounts
-
-
15,946
Sinking fund accounts
14,197
-
21,865
Cash in Merchants National Bank of Mobile,
bond sinking funds
-
45,254
51,930
478,972
225,206
966,926
Receivables:
Utility customers
282,021
39,898.
-
Federal agencies
-
1,571
1,179
Other receivables
2,131
4,046
14,498
Allowance for uncollectible accounts
(40,355)
(1,860)
(1,076)
243,797
43,655
14,601
Materials inventories
80,194
70,350
51,890
Prepaid operating expenses
7,414
9,628
6,360
Total current assets
810,377
348,839
1,039,777
SINKING FUNDS - Restricted cash
Merchants National Bank of Mobile -
reserve and replacement funds
-
.157,511
92,580
PROPERTY, PLANT AND EQUIPMENT (at cost)
Plant and distribution system
2,689,597
1,577,766
6,380,095
Vehicles and equipment
247,506
133,258
74,090
2,937,103
1,711,024
6,454,185
Accumulated depreciation -
(860,962)
(875,916)
(1,254,375)
Property, plant and equipment -
net 2,076;141
835,108
5,199,810
OTHER ASSETS
Unamortized debt cost 879 - 11,601
Unamortized deferred plant maintenance - - 18,962
Inter fund receivables 7,639 147,868 18,657
Total other assets 8,518 147,868 49,220
TOTAL ASSETS $2,895,036 S1,489.,326 $6,381,387
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
Totals
(Memorandum Only)
September 30,
1981 1980
$ 261,790
1,260,122
15,946
36,062
97,184
1,671,104
321,919
2,750
20,675
(43,291)
302,053
202,434
23,402
2,198,993
250,091
10,647,458
454,854
11,102,312
(2,991,253)
8,111,059
89,303
940,857
297,635
56,095
36,236
(22,639)
367,327
8,332,357
317,656
8,650,013
(2,712,836)
5,937,177
12,480 14,384
18,962 25,454
174,164 141,348
205,606 181,186
$10,765,749 $7,857,566
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUNDS
COMBINING BALANCE SHEET (CONTINUED)
SEPTEMBER 30, 1981
Water and
Electric Natural Gas Wastewater
LIABILITIES AND CAPITALIZATION Fund Fund Fund
CURRENT LIABILITIES
`Accounts payable, trade $ 272,632 $ 66,814 $ 18,285
Contracts payable - - 164,454
Accrued expenses and taxes:
2,162
1,856
2,007
Payroll taxes
Employees' retirement
2,930
2,367
2,674,
Interest
3,770
6,600
49,959
Utility taxes
19,204
-
-
Employees withholdings
112
-
34
Town of Daphne
-
6,150
-
28,178
16,973
54,674
Customer deposits
227,596
-
5,832
Revenue bonds and general obligation
warrants payable
34,000
45,000
65,000
Total current liabilities
562,406
128,787
308,245
NON CURRENT LIABILITIES
bonds and general obligation
.Revenue
warrants payable
256,000
450,000
3,362,000
Interfund payables
178,513
9,917
45,964
Total non current liabilities
434,513
459,917
3,407,964
Total liabilities
996,919
588,704
3,716,209
CAPITALIZATION
Contributions in aid of construction:
United States Government - - 1,077,352
Customers and developers 87,805 112,020 710,457
Contributed capital from other
funds of the City of Fairhope - - 38,147
Retained earnings 1,810,312 788,602 839,222
Total capitalization
1,898,117
900,622
22665,178
TOTAL LIABILITIES AND CAPITALIZATION
$ 2,895,036
$ 1,489.,326
$ 6,381,387
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
9
Totals
(Memorandum Only)
September 30,
1981 1980
$ 357,731 $ 375,462
164,454 -
6,025
6,786
7,971
6,806
60,329
33,604
19,204
17,416
146
210
6,150
17,844
99,825
82,666
233,428 249,769
144,000 137,000
999,438 844,897
4,068,000 2,010,000
234,394
284,619
4,302,394
2,294,619
5,301,832
3,139,516
10
1,077,352 1,069,106
910,282 534,045
38,147 -
3,438,136 3,114,899
5,463,917 4,718,050
910,765,749 S 7,857,566
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING 9 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUND TYPES
COMBINED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED SEPTEMBER 30, 1981
Electric Natural Gas
Fund Fund
OPERATING REVENUES
•Utility services $3,128,863 $1,824,568
Other charges, sales and receipts 42,465 1,078
Total operating revenues 3,171,328 1,825,646
OPERATING EXPENSES
Cost of utilities sold
2,155,667
Operating, maintenance and administrative
salaries
214,559
Operation and maintenance of plant
28,506
Gasoline and oil
10,637
Vehicle and equipment repairs
12,267
Audit fees
2,325
Accounting services
200
Bad debts
20,534
Christmas bonuses
750
Bond issue expense
185
Computer expenses
10,284
Dues and memberships
13,152
Electric energy furnished City of Fairhope
35,548
Engineering. services
16,614
Insurance, casualty
20,747
Insurance, employees group
17,724
Legal fees
5,000
Miscellaneous
209
Office supplies and postage
3,709
Payroll taxes
16,692
Professional services
-
Employees' retirement
25,817
Telephone
3,553
Rental
350
Surveyor
-
Travel, training and school
3,091
Uniforms
296
Trustee fees
-
Distribution of joint revenue
-
Utilities
-
Total operating expenses
2,618,416
EARNINGS FROM OPERATIONS BEFORE DEPRECIATION 552,912
Depreciation 99,315
EARNINGS FROM OPERATIONS (carried forward) $ 453,597
1,236,133
117,371
23,832
11,181
7,906
2,325
165
450
8,833
4,829
13,109
18,148
10,772
2,738
194
4,460
14,152
18,979
2,681
3,215
546
540
6,150
1,005
1,509,714
315,932
51,887
Water and
Wastewater
Fund
$ 609,990
7,497
617,487
70,960
168,518
82,440
8,267
9,043
2,325
150
650
885
9,469
148
4,054
17,164
17,385
3,794
116
5,091
12,645
1,413
21,596
4,242
145
1,568
506
1,560
444,134
173,353
127,215
$ 264,045 $ 46,138
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
10
Totals
(?Memorandum Only)
Year ended September 30,
1981 1980
$5,563,421 $4,590,214
51,040 61,519
5,614,461 4,651,733
3,462,760 2,802,522
500,448
432,414
134,778
111,183
30,085
24,744
29,216
18,464
6,975
6,300
515
6,000
20,534
8,073
1,850
1,750
1,070
1,070
28,586
16,913
18,129
13,561
35,548
23,288
33,777
25,498
56,059
56,182
45,881
30,362
11,532
647
519
905
13,260
12,027
43,489
31,243
1,413
120
66,392
30,976
10,476
10,477
495
1,757
-
100
7,874
4,677
1,348
1,229
2,100
2,206
6,150
6,300
1,005
1,260
4,572,264
3,682,248
1,042,197 969,485
278,417 248,264
$ 763,780 $ 721,221
The notes to the financial statements are an integral part of this statement.
PARKER. FICKLING 8 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUND TYPES
COMBINED STATEMENT OF INCOME AND RETAINED.EARNINGS (CONTINUED)
FOR THE YEAR ENDED SEPTEMBER 30, 1981
•
Water and
Electric
Natural Gas
wastewater
Fund
Fund
Fund
EARNINGS FROM OPERATIONS (brought forward)
$ 453,597
$7 264,045
$ 46,138
OTHER (DEDUCTIONS) INCOME
Interest expense
(16,328)
(20,100)
(138,234)
Interest earned
30,756
31,795
89,697
Earnings transferred to the General Fund
of the City of Fairhope
(236,000)
(254,000)
(20,000)
Purchased natural gas refunds for
prior years
-
50,726
-
Transfer to General Fund for street
resurfacing
-
-
Extraordinary losses:
Flood damage repair cost
-
-
-
Federal assistance for flood damage
18,898
-
-
Hurricane damage direct repair cost
-
-
-
Federal assistance for hurricane damage
-
-
-
Reimbursement Red Cross
-
-
-
Alabama Power Company refund
22,247
-
-
Total other (deductions) income
(180,427)
(191,579)
(68,537)
NET EARNINGS (LOSS)
273,170
72,466
(22,399)
Retained earnings at beginning of year
1,537,142
716,136
861,621
RETAINED EARNINGS AT END OF YEAR
$1,810,312
$ 788,602•
$ 839,222
PARKER, FICKLING & JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
11
e
Totals
(Memorandum Only)
Year ended September 30,
1981 1980
$ 763,780 $ 721,221
(174,662)
152,248
(510,000)
50,726
18,898
22,247
(440,543)
323,237
3,114,899
$3,438,136
(453,041)
268,180
2,846,719
$3,114,899
The notes to' the financial statements are an integral part of this statement.
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY•FUND TYPES
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED SEPTEMBER 30, 1981
SOURCES OF WORKING CAPITAL
'From operations:
Net earnings (loss)
Add charges to earnings not
requiring current working capital,
depreciation and amortization
Working capital provided by
operations
Proceeds of water revenue anticipation note
Contributions and grants in aid
of construction
Disposal of equipment
Decrease (increase) in interfund
receivables
Decrease (increase) in sinking funds
Total sources of working capital
USES OF WORKING CAPITAL
Acquisition of property, plant and
equipment
Reduction of long term debt
Decrease (increase) in interfund payables
Total uses of working capital
INCREASE (DECREASE) IN WORKING CAPITAL
Water and
Electric
Natural Gas
Wastewater
Fund
Fund
Fund
$ 273,170
$ 72,466
$ (22,399)
99,502
51,887
135,424
372,672
124,353
113,025
2,192,000
3,572
39,965
379,093
(7,639)
(18,146)
(7,031)
(3,581)
(3,898)
368,605
142,591
2,673,189
335,490
166,117
1,950,692
34,000
45,000
55,000
39,669
4,566
5,990
409,159
215,683
2,011,682
$ (40,554)
$ (73,092)
$ 661,507
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
12
6-)
Totals
(Memorandum Only)
Year ended September 30,
1981 1980
$ 323,237
286,813
610,050
2,192,000
422,630
(32,816)
(7,479)
3,184,385
2,452,299
134,000
50,225
2,636,524
$ 547,861
$ 268,180
256,659
89,618
5,715
8,920
14,399
643,491
467,236
137,000
64,741
668,977
$ (25,486)
(continued)
The notes to -the financial statements are an integral part of this statement.
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ALL PROPRIETARY FUND TYPES
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION (CONTINUED)
FOR THE YEAR ENDED SEPTEMBER 30, 1981
NET CHANGES IN ELEMENTS OF WORKING CAPITAL —
'INCREASES (DECREASES)
CURRENT ASSETS:
Cash
Receivables
Inventories
Prepaid expenses
Increase (decrease) in current
assets
CURRENT LIABILITIES
Accounts payable, trade
Contracts payable
Accrued expenses
Customer deposits
Revenue bonds and general obligation
warrants payable
Increase (decrease) in current
liabilities
INCREASE (DECREASE) IN WORKING CAPITAL
Electric Natural Gas
Fund Fund
Water and
Wastewater
Fund
$ (24,014)
$ (89,057)
$ 843,318
(34,615)
(380)
(30,279)
(435)
22,835
14,972
(276)
(193)
526
(59,340)
(66,795)
828,537
(38,208)
17,821
2,656
-
-
164,454
520
(11,524)
28,163
16,902
-
(33,243)
2,000
-
5,000
(18,786)
6,297
167,030
$ (40,554)
$ (73,092)
$ 661,507
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
13
Totals
(Memorandum Only)
Year ended September,30,
,oQ, TOAn
$ 7.30,247 8 199,764
(65,274) (110,858)
37,372 (52,381)
57 209
702,402 36,734
(17,731) 19,693
164,454 -
17,159 (3,736)
(16,341) 41,263
7,000 5,000
154,541 62,220
$ 547,861 $ (25,486)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING It JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
14
CITY OF FAIRROPE, ALABAMA
STATEMENT OF GENERAL FIXED ASSETS
Land and buildings
Municipal beach and pier
Municipal airport
Street paving and improvements
Municipal fishing dock
Equipment
Recreational facilities
TOTAL GENERAL FIXED ASSETS
SEPTEMBER 30, 1981 AND 1980
ASSETS
INVESTMENT
INVESTMENT IN GENERAL FIXED ASSETS
AT BEGINNING OF YEAR
Add: Acquisitions during the current year
Less: Retirement during the current year
INVESTMENT IN GENERAL FIXED ASSETS
AT END OF YEAR
1981 1980
$ 660,829 $ 255,333
644,719 644,719
1,114,959 661,716
1,714,860 1,680,600
29,572
29,572
509,596
460,464
757,300
666,256
$5,431,835
$4,398,660
$4,398,660 $3,850,372
1,037,482 554,221
5,436,142 4,404,593
4,307 5,933
$5,431,835 $4,398,660
The notes to the financial statements are an integral part of this statement.
PARKER, FICKIING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
15
CITY OF FAIRHOPE, ALABAMA
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS
FOR THE YEAR ENDED SEPTEMBER 30, 1981
LAND AND BUILDINGS
Park property
City garage property
Sundry property
City administration
building
Police and fire station
City garage and warehouse
Civic Center building - old
Civic Center building
MUNICIPAL BEACH AND PIER
MUNICIPAL AIRPORT
MUNICIPAL FISHING DOCK
y STREET PAVING AND
IMPROVEMENTS
EQUIPMENT
Police Department
Fire Department
Street Department
General Government
Sanitation Department
RECREATIONAL FACILITIES
Land
Stimpson Field and
Volanta Field
Tennis courts
Swimming pools
Bath houses and restrooms
Equipment
Fencing
Playground equipment
Young Street building
Football stadium and
buildings
General
Fixed Assets
Oct.1,1980
$ 1,000
29,090
10,106
84,726
67,239
45,974
17,198
255,333
644,719
661,716
29,572
1,680,600
69,290
91,476
231,811
27,878
40,009
460,464
64,000
125,151
25,033
103,186
31,597
5,518
15,856
3,667
Additions
S
427
5,069
400,000
405,496
453,243
34,260
18,653
7,194
16,541
7,993
3,058
53,439
70,720
5,658
6,329
8,337
Retirements
4,307
4,307
General
Fixed Assets
Sept.30,1981
$ 1,000
29,090
10,106
85,153
67,239
51,043
17,198
400,000
660,829
644,719
1,114,959
29,572
1,714,860
83,636
98,670
248,352
35,871
43,067
509,596
64,000
195,871
25,033
103,186
31,597
11,176
22,185
8,337
3,667
292,248
666,256 91,044 757,300
TOTALS $4,398,660 $1,037,482 ' $ 4,307 $5,431,835
-The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING 3 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
292,248
16
CITY OF FAIRHOPE, ALABAMA
STAT61ENT OF GENERAL LONG TERM DEBT
SEPTEMBER 30, 1981 AND 1980
AMOUNT AVAILABLE AND TO BE PROVIDED
FOR THE PAYMENT OF GENERAL LONG TERM DEBT
1981
Amount available in debt service funds $ 82,173
Amount to be provided 1,309,127
TOTAL AVAILABLE AND TO BE PROVIDED $1,,391,300
GENERAL LONG TERM DEBT OUTSTANDING
1980
$ 75,473
999,827
$1,075,300
General obligation refunding warrants
(dated June 30, 1975) S 410,000 $ 450,000
General obligation recreational warrants
(dated July 1, 1976) 230,000 245,000
General obligation various purpose warrants
(dated December 1, 1978) 485,000 535,000
General obligation public improvements bonds
(dated December 1, 1978) 320,000 360,000
Mortgage payable, First National Bank of
Baldwin County (dated August 27, 1980) 70,000 70,000
General obligation note payable, First National Bank
of Baldwin County (dated June 4, 1981) 400,000 -
Total general obligation warrants and bonds 1,915,000 1,660,000
Less bonds and warrants payable by
Special Assessment Fund:
Portion of general obligation various
purpose warrants (dated December 1, 1978) 203,700 224,700
General obligation public improvement
bonds (dated December 1, 1978) 320,000 360,000
Total 523,700 584,700
TOTAL GENERAL LONG TERM DEBT OUTSTANDING $1,391,300 $1,075,300,
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING t JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
17
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Purposes of Funds and Account Groups - The City utilizes the following
funds account groups:
1. The General Fund is used to account for all revenues and ex-
penditures applicable to the general operations of city
government which are not properly accounted for in another
fund. All general operating revenues which are not restricted
or designated as to use by outside sources are recorded in the
General Fund.
2. Special Revenue Funds are operating funds -for which the use of
revenues is restricted or designated by outside sources, and
to account for revenue derived from specific taxes or other
specific resource to finance particular functions or activi-
ties of government.
3. Special Assessment Fund is used to account for special assess-
ments levied to finance public improvements.
4. The Electric Fund, Natural. Gas Fund and Water and Wastewater
Fund, which are Enterprise Funds, are used to account for the
operations of the utilities, related debt, property, plant and
equipment.
5. Capital Project Fund is used to account for financial resources
to be used for the acquisition or construction of major facili-
ties other than those financed by proprietary funds and Special
Assessment Funds.
6. The General Fixed Assets Account Group is used to account for
fixed assets required for general city purposes.
7. The General Long Term Debt Account Group is used to account for
the outstanding principal balances of General Long Term Debt,
not accounted for in the Enterprise Funds and Special Assess-
ment.Fund.
Basis of Accounting:
1. General Fund, Special Revenue Fund and Special Assessment Fund -
The accounts of the governmental funds are maintained on the
modified accrual basis. Under the modified accrual basis,
expenditures, other than accrued interest on general long term
debt are recorded at the time liabilities are incurred and
revenues are generally recorded when received in cash, except
for certain revenues which are accrued when they are both
measurable and available or have not been received at the
normal time of receipt.
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
18
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
2. Enterprise Funds - The accounts of the Utility Funds are main-
tained on the accrual basis, revenues are recorded when earned
and liabilities when they are incurred.
Property, plant and equipment - Additions, improvements and
renewals are capitalized at cost. Maintenance and repairs are
charged to expense as incurred. Depreciation is provided us-
ing the straight line method over the estimated useful lives of
the assets. Retired plani and equipment are removed from the
accounts at their respective costs.
Receivables from utility customers - The Electric Fund pur-
chases at face value, the utility receivables of the Natural
Gas Fund and Water and Wastewater Fund. Purchase is made at
the time customers are billed.
Inventories - Materials and supplies inventories are valued at
cost and consist largely of items to be used to construct and
maintain utility plant.
Debt issue cost and discount - Issuance expenses on long term
debt are deferred and amortized, on the bonds outstanding
method, over the terms of the related issues.
Deferred charges - Expenditures for operation and maintenance
which will benefit future periods are amortized over the
periods benefited.
Contributions in aid of construction - Non refundable payments
from customers 'and governmental agencies for the purpose of
construction of utility plant, to which the City retains title,
are capitalized, with no effect on revenues.
3. General Fixed Assets Account Group - Fixed assets acquired or
constructed for general governmental services are recorded as
expenditures in the funds making the expenditure and capita-
lized at cost in the General Fixed Assets Account Group. No
provision is being made for depreciation. Retired assets are
removed at their respective cost.
4. Comparative data - Comparative total data for the prior year
have been presented in the accompanying financial statements in
order to provide an understanding of changes in the City's
financial position and operations.
PARKER, FICKLING d JORDAN. CERTIFIED PUBLIC ACCOUNTANTS. P.C.
19
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 2 RETIREMENT PLAN
The City has a funded contributory retirement plan, which went into
effect January 1, 1980, with the Employees' Retirement System of
Alabama. All new employees (if they meet age requirements) of the
City must become members of the retirement plan. Monthly contri-
butions to the plan for current and past service costs are based on
actuarial estimates prepared by the Employees' Retirement System of
Alabama. Employees contribute 5% of their regular salary and the
City's contribution, rate for the year ended September 30, 1981 was
11.75%, decreasing to 10.62% effective October 1, 1981.
The City at September 30, 1981 also had a retirement plan with New
England Mutual Life Insurance Company. The City Council, on
October 22, 1979, approved termination of the retirement plan with
New England Life effective July 1, 1979.
The employees that were participating in the New England Life re-
tirement plan became participants of the Alabama State Retirement
Plan. The City was in the process of liquidating the plan assets
with New England Life and transferring them to the Alabama. State
Retirement Plan.
NOTE 3 TOTAL COLUMNS ON COMBINED STATEMENTS - INTERPRETATION OF "TOTAL
MEMORANDUM ONLY" COLUMN
Amounts in the "Total Memorandum Only" column represent the mathe-
matical summing of the combined balance sheet line items of the
fund types and account groups included therein. Because these fund
types and account groups utilize different bases of accounting,
amounts in the "Total" column do not necessarily represent compara-
rable total resources available for spending or appropriation. The
"Total" column usually includes an amount which, while classified
as an asset, is not an asset in the usual sense. The caption
"Amounts to be provided" represents only the amount of future
revenues required to liquidate existing debt recorded in the
long-term debt account group.
PARKER. FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
20
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 4 STREET IMPROVEMENT ASSESSMENTS RECEIVABLE
Street improvement assessment receivables as of September 30,
consisted of unpaid assessments from the following years:
September
30,
Year
1981
1980
1962
$ 151
$ 151
1963
1,449
13,449
1966
868
868
1970
3,256
5,434
1974
14,171
212299
1977-1978
370,119
443,838
TOTAL
$390,014
$473,039
NOTE 5 GENERAL FUND - CASH IN FIRST NATIONAL BANK OF BALDWIN COUNTY
The General Fund's cash in the First
National Bank of
Baldwin
County at September 30, consisted of the
following balances:
September
30,
1981
1980
General operating
$ 31,071
$ 39,435
Payroll
439
400
Airport - checking
44,008
4,151
Pooled funds - certificate of deposit
125,022
-
Beach revenue -'checking
1,436
476
Beach revenue - savings
315
25,144
Flood disaster
7
17,523
Parking authority - checking & savings
7,271
4,987
Municipal fountain - savings
2,582
2,450
Industrial park - savings
59
4,660
Warrant - checking account
-
2
Warrant - savings account
-
70,800
Sinking fund - 1975 G. 0. Warrants
42,023
37,697
TOTAL
$254,233
$207,725
NOTE 6 FEDERAL REVENUE SHARING FUNDS
The City of Fairhope's Federal revenue sharing funds received
during the fiscal years ended September 30, 1981 and 1980 were
expended to the City of Fairhope Public Library Board for
operating and maintenance of the Fairhope Public Library.
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
21
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 7 1977 - 1978 PUBLIC IMPROVEMENT ASSESSMENT FUND
The 1977-1978 Public Improvement Assessment Fund was initiated to
accumulate the cost of paving and water and sewer improvements and
to assess and collect assessments on the completed project.
Property owners were assessed for their share of the cost. Also,
on completion of the project the cost of the street paving was
transferred to the General Fixed Assets Fund and the water and
sewer improvements were transferred to the Water and Wastewater
Fund.
NOTE 8 SINKING FUNDS - PROPRIETARY FUNDS
The cash and investments in these sinking funds (bond, reserve and
replacement funds) are restricted as to their use in accordance with
their respective indentures.
The amounts in the various sinking funds was as follows at
September 30:
September
30,
1981
1980
1953
series
$ 38,787
32,418
1961
series
259,477
2.55,310
1972
series
41,523
36,797
1973
series
21,865
19,445
1978
series
7,488
7,390
General
obligation electric warrants
14,197
13,433
Total
$383,337
$364,793
NOTE 9 REVENUE
BONDS, NOTES AND WARRANTS PAYABLE
- PROPRIETARY FUNDS
September
30,
1981
1980
Electric Fund
(a) General obligation electric warrants
dated August 22, 1973, interest
rate 5.2% payable semi annually,
remaining principal payable July 1,
1982 through July 1, 1988
Current $ 34,000
Non current 256,000
Total 290,000
(continued)
PARKER, FICIQING i JORDAN. CERTIFIED PUBLIC ACCOUNTANTS. P.C.
$ 32,000
290-, 000
322,000
22
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 9 REVENUE BONDS, NOTES AND WARRANTS PAYABLE - PROPRIETARY FUNDS
(continued)
September 30,
1981 1980
Natural Gas Fund
(a) First mortgage gas, water and waste-
water revenue bonds, 1961 series,
dated December 1, 1961, interest
rate 4% on $495,000, payable semi
annually, remaining principal payable
December 1, 1981 through December 1,
1991
Current $ 45,000
Non current 450,000
Total 495,000
Water and Wastewater Fund
(a) Water Revenue Bond Anticipation Note -
payable to The First National Bank of
Baldwin County, note dated May 12, 1981.
Note matures May 1, 1983, interest rate
8 1/2% payable quarterly, principal and
interest payable solely out of revenue
from the water works plant and distri-
bution system. The note is to be re-
tired in the future from the issuance
and sale of long term bonds
Current
Non current
(b) First mortgage water and wastewater
revenue bonds, 1953 series, dated
December 14, 1953, interest rate
4 3/4% payable semi annually, re-
maining principal payable January 1,
1982 through 1984
Current
Non current
Total
(c) First mortgage water and wastewater
revenue bonds, 1972 series, dated
December 1, 1972, interest rate
4 1/2 to 5%, on $240,000 and 5 to
5.3% on $440,000, payable semi
annually, remaining principal
payable December 1, 1981 through
2,192,000
2,192,000
10,000
25,000
35,000
December 1, 1994
Current 35,000
Non current 645,000
Total 680,000
PARKER, FIMING B JORDAN. CERTIFIED PUBLIC ACCOUNTANTS. P.C.
$ 45,000
495,000
540,000
35,000
35,000
30,000
680,000
710,000
23
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 9 REVENUE BONDS, NOTES AND WARRANTS PAYABLE - PROPRIETARY FUNDS
(continued)
September 30,
1981
1980
(d) Special obligation wastewater revenue
Bonds, Alabama Pollution Control
Finance Authority, 1973 series, dated
January 1, 1973, interest rate 5.5%
on $20,000 and 5.9% on $140,000, payable
semi annually, remaining principal'
payable January 1, 1982 through
January 1, 4989
Current
S 20,000
$ 20,000
Non current
140,000
160,000
Total
160,000
180,000
(e) Water, gas and wastewater revenue
bonds, series 1978 dated December
1, 1978, interest rate 6% on
S75,000 and 6.2% on $285,000,
payable semi annually, principal
payable December 1, 1987 through
December 1, 1994
Current
-0-
-0-
Non current
360,000
360,000
Total
360,000
360,000
TOTAL BONDS, NOTES AND WARRANTS
PAYABLE - PROPRIETARY FUNDS
$4,212,000
$2,147,000
NOTE 10 GENERAL OBLIGATION LONG TERM DEBT
The general obligation .refunding, recreational and various
purposes warrants and general obligation public improvement bonds
are general obligations of the City of Fairhope, Alabama and are
secured by a pledge of its full faith and credit.
The general obligation recreational warrants and interest are
being retired with the funds from the Recreation Capital
Improvement Fund in the Recreation Fund.
The general obligation public improvement bonds and $203,700 of
the general obligation various purpose warrants principal and
interest are being retired with funds from the 1977-1978 Public
Improvement Assessment Fund.
The mortgage payable to First National Bank of Baldwin County is
secured by certain parcels of land located at the City of Fairhope
Municipal Airport.
PARKER, FICKIING i JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
24
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 10 GENERAL OBLIGATION LONG TERM DEBT (continued)
The general obligation note payable to the First National Bank of
Baldwin County dated June 4, 1981 in the amount of $400,000
matures on December 4, 1981, with interest at the rate of 8 1/2%.
The note is secured by the general faith and credit of the City
of Fairhope. The City used these loan proceeds to purchase a
building located in Fairhope, Al. The City is in the process of
remodeling this building for use as a Civic Center.
The City plans to refinance this note as a long term obligation
in the near future.
NOTE 11 SUMMARY OF ALL LONG TERM DEBT OUTSTANDING - ALL FUNDS
September
30,
1981
1980
General obligation electric warrants
S 290,0057 $
322,000
First mortgage revenue bonds = 1961 series
495,000
540,000
Water Revenue Bond Anticipation Note
2,192,000
-
First mortgage revenue bonds - 1953 series
35,000
35,000
First mortgage revenue bonds - 1972 series
680,000
710,000
Special obligation revenue bonds -
1973 series
160,000
180,000
Revenue bonds - 1978 series
360,000
360,000
Mortgage - First National Bank of Baldwin
County
70,000
70,000
General obligation refunding warrants
(6-30-75)
410,000
450,000
General obligation recreational warrants
(7-1-76)
230,000
245,000
General obligation various purpose warrants
(12-1-78)
485,000
535,000
General obligation public improvement bonds
(12-1-78)
320,000
360,000
General obligation note payable First National
Bank of Baldwin County (dated June 4, 1981)
400,000
-
TOTAL LONG-TERM DEBT OUTSTANDING -
ALL FUNDS
$6,127,000 $3,807,000
NOTE 12 SUMMARY OF ALL SHORT TERM NOTES PAYABLE -
A) General obligation note payable -
First National Bank of Baldwin
County; dated July 13, 1981,
maturity date January 13, 1982,
interest rate 7 1/2%, secured
by the general faith and credit
of the City of Fairhope
B) Note payable - McGowin Trusts,
dated August 27, 1980, matured
ALL FUNDS
September-30,
1981 1980
$146,001
$146,001
October 27, 1981, interest
rate 8% - 49,466
TOTAL SHORT TERM NOTES PAYABLE $146,001 $195,467
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 13 SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
The following is a summary of debt service requirements to matur-
ity of general long term debt of the General, Special Revenue and
Special Assessment Funds. The schedule does not include the note
payable to the First National Bank of Baldwin County, dated June 4,
1981, in the amount of $400,000.
General Obligation Refunding Warrants
Total
Fiscal
Interest
(Memorandum
Year
Principal
Rate
Interest
Only)
1982
$ 40,000
6.25
$ 25,625
$ 65,625
1983
40,000
6.25
23,125
63,125
1984
40,000
6.25
20,625
60,625
1985
40,000
6.25
18,125
58,125
1986
50,000
6.25
15,625
65,625
1987
50,000
6.25
12,500
62,500
1988
50,000
6.25
9,375
59,375
1989
50,000
6.25
6,250
56,250
1990
50,000
6.25
3,125
53,125
1991
-
-
-
-
TOTALS
$410,000
$134,375
$544,375
General
Obligation Various
Purpose Warrants
- -Total
Fiscal
Interest
(Memorandum
Year
Principal
Rate
Interest
Only)
1982
50,000
5.7
28,140
$ 78,140
1983
50,000
5.8
25,265
75,265
1984
55,000
5.9
22,193
77,193
1985
55,000
6
18,920
73,920
1986
55,000
6.25
15,551
70,551
1987
55,000
6.25
12,113
67,113
1988
55,000
6.25
8,677
63,677
1989
55,000
6.3
5,225
60,225
1990
55,000
6.35
1,746
56,746
1991
-
-
-
-
TOTALS
$485,000
$137,830
$622,830
PARKER, FICKLING & JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
25
Mortgage Payable,
First National Bank
of Baldwin
County
Total
Fiscal
Interest
(Memorandum
Year Principal
Rate
Interest
Only)
1982 70,000
6 1/2
4,550
74,550
S 70,000
$ 4,550
$ 74,550
General Obligation Recreational
Warrants
Total
Interest
(Memorandum
Principal
Rate
Interest
Only)
$ 15,000
5.25
$ 12,462
$ 27,462
20,000
5.25
11,675
31,675
20,000
5.25
10,625
30,625
20,000
5.25
9,575
29,575
20,000
5.5
8,525
28,525
25,000
5.5
7,425
32,425
25,000
5.5
6,050
31,050
25,000
5.5
4,675
29,675
30,000
5.5
3,300
33,300
30,000
5.5
1,650
31,650
$230,000
$ 75,962
$305,962
General Obligation Public
Improvement Bonds
Total General Obligation
Principal and Interest
Total
Total
Interest
(Memorandum
Total
Total
(Memorandum
Principal
Rate
Interest
Only)
Principal
Interest
Only)
$ 40,000
5.8
$ 17,520
$ 57,520
$ 215,000
$ 88,297
$ 303,297
40,000
5.8
15,200
55,200
150,000
75,265
225,265
40,000
5.8
12,880
52,880
155,000
66,323
221,323
40,000
5.8
10,560
50,560
155,000
57,180
212,180
40,000
5.8
8,240
48,240
165,000
47,941
212,941
40,000
5.8
5,920
45,920
170,000
37,958
207,958
40,000
5.9
3,580
43,580
170,000
27,682
i97,682
40,000
6
1,200
41,200
170,000
17,350
187,350
-
-
-
-
135,000
8,171
143,171
-
-
-
-
30,000
1,650
31,650
$320,000
$ 75,100
$395,100
$1,515,000
$427,817
$1,942,817
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
26
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 14 INSURANCE COVERAGE
The insurance coverage of the City applicable to the Utility Funds
is approximately as follows:
Electric facilities:
Electrical sub stations $418,000
Natural gas facilities:
Pump houses, odorizing equipment,
regulating stations and equipment $ 14,000
Water and wastewater facilities:
Water tanks, lift stations and
contents, filter plant building
and equipment, pressure filter,
pump houses, sewer plant and
equipment $400,000
Comprehensive general liability $500,000
Vehicle bodily injury and property
damage liability $ 25,000
Crime and employee dishonesty $ 25,000
NOTE 15 PROPERTY, PLANT AND EQUIPMENT - PROPRIETARY FUNDS
Changes during the year in property, plant and equipment were as
follows:
Balance, October 1, 1980
Additions:
Self constructed:
Labor
Material
Contracted engineering
Vehicles and equipment
purchases
Contracted construction
Purchased power lines
Sewer line to Grand Hotel
Water line construction
work in progress
Electric
Fund
$2,601,613
31,273
166,175
6,914
90,867
8,952
31,309
Natural
Gas
Fund
1,544,907
45,745
72,322
21,250
26,800
Water and
Wastewater
Fund
4,503,493
16,885
29,767
10,993
25,081
287,896
1,580,070
BALANCE, SEPTEMBER 30, 1981 $2,937,103 $1,711,024 $6,454,185
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
27
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 16 INFORMATION REQUIRED BY BOND INDENTURES
Natural Water and
Electric Gas Wastewater
Fund Fund Fund
A. The following information provided
by City employees:
Number of customers 3,561 47,269 3,965
Number of metered customers 3,561 4,269 3,965
Number of unmetered customers -0- -0- -0-
Number of wastewater connections 2,771
B. All requirements of the respective bond indentures appeared to have been com-
plied with by the City.
NOTE 17 SALARIES - PROPRIETARY FUNDS
The following is a summary of employees' salaries by Utility Fund for
the years ended September 30, 1981 and 1980:
Natural
Water and
Electric
Gas
Wastewater
Fund
Fund
Fund
Year ended September 30, 1981:
Total salaries
$245,832
$163,116
$185,403
Less:
Salaries capitalized for plant
additions
(31,273)
(45,745). -_
. (16,885)
Amount of salaries charged to operations
$214,559
$117,371
$168,518
Year ended September 30, 1980:
Total salaries
$224,209
$128,544
$155,007
Less:
Salaries capitalized for plant
additions
(25,108)
(16,238)
(14,353)
Salaries charged to hurricane
expense
(18,758)
(589)
(300)
Amount of salaries charged to operations
$180,343
$111,717
$140,354
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
28
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 18 ELECTRIC ENERGY FURNISHED OTHER DIVISIONS
The selling price of electric energy delivered without charge by
the Electric Fund to various other funds (except the Water and
Wastewater*Fund), boards and offices of the City of Fairhope is
charged to the Electric Fund's operations as electric energy
furnished other divisions of the City of Fairhope. The Water and
Wastewater Fund purchases at cost from the Electric Fund, electric
energy it receives.
NOTE 19 DEPRECIATION
The rates used in recording depreciation of plant and equipment of
the utility funds are annual straight line rates as follows:
Electric system 3.0%
Natural gas system 2.5%
Water and wastewater system 2.5%
Vehicles and equipment 12.5% to 16.7%
NOTE 20 EXTRAORDINARY LOSS
Hurricane disaster — On September 12 and 13, 1979 the City
sustained considerable. damage to its utility systems, buildings
and recreational facilities when Hurricane Frederic struck the
area. The Federal Emergency Management Agency is to reimburse the
City for all uninsured costs related to restoring the City's
utility systems, buildings and certain other facilities to their
pre —hurricane condition.
All repair costs were recorded in the period incurred and -.Federal
reimbursment accrued in the amounts approved on the assistance
commitments. FEMA is reimbursing the City for direct costs and
some overhead expenses.
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
29
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1981
NOTE 21 LITIGATION
At September 30, 1981 the City of Fairhope was a defendent in one
law suit.
The suit was brought by Hilda Claire Oaks naming as defendents the
City of Fairhope, along with the Board of Trustees of the Fairhope
Public Library and ten individuals. Ms. Oaks was the former
director/librarian of the Fairhope Public Library.
On May 20, 1981, The United States District Court judge granted a
summary judgment and entered final judgment on all claims in favor
of all defendents and against 14s. Oaks. On June 12, 1981, Ms. Oaks
filed a notice of appeal to the United States Court of Appeals for
the Fifth Circuit. On October 28, 1981, Ms. Oaks' appeal was dis-
missed pursuant to a settlement. The City paid Ms. Oaks $5,000 as
the consideration for Ms. Oaks' dismissal of her appeal. The $5,000
payment made by the City of Fairhope to the plaintiff in considera-
tion for dismissal of plaintiff's appeal was considerably less than
the cost of such an appeal. The case was closed.
NOTE 22 FINANCIAL STATEMENTS NOT INCLUDED
The' financial statements of the City of Fairhope Public Library
Board are not included in this report. The financial statements of
the Public Library Board are being submitted under separate cover.
0
PARKER, FICKLING 4 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
30
CITY OF FAIRHOPE, ALABAMA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 1991
NOTE 23 INDIVIDUAL FUND INTERFUND RECEIVABLE AND PAYABLE BALANCES
Individual fund interfund receivable and payable balances at
September 30, 1981 were as follows:
Interfund
Interfund
Receivable
Payables
General Fund
$111,494
12,302
Special Revenue Funds:
Recreation Operating Fund
-
523
State Gasoline Tax Fund
67,991
-
Recreation Capital
Improvement Fund
-
-
Federal Revenue Sharing
-
-
Special Assessment Fund
-
106,430
Enterprise Funds
Electric Fund
7,639
178,513
Natural Gas Fund
147,868
9,917
Water and Wastewater Fund
18,657
45,964
TOTALS
$353,649
$353,649
NOTE 24 CONSTRUCTION WORK IN PROGRESS - WATER AND 14ASTEWATER FUND
At September 30, 1981, the City's Water and Wastewater Fund had as
work in progress construction of a water line extension, two new
water wells and water tanks. The City borrowed $2,192,000 under a
Water Bond Anticipation Note to finance the construction of the
water line extension project at an estimated cost of $2,192,000. At
September 30, 1981 the completed construction costs to date was
$1,580,070.
The certificate of deposit of the Water and Wastewater Fund in the
amount of $868,647 is restricted for expenditures to the above water
water line extension, water wells and tanks.
Y
PARKER, FICKLING 4 JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
31
SUPPORTING SCHEDULES
ADDITIONAL FINANCIAL
INDIVIDUAL FUND AND
FINANCIAL STATEMENTS
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
32
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
1981
1980
CASH
On hand $
200
$ 150
In First National Bank of Baldwin County
254,233
207,725
In Merchants National Bank of Mobile
30,654
30;414
Total
285,087
238,289
RECEIVABLES
Street improvement assessments
19,895
29,201
Federal Disaster Assistance Administration
-
28,631
Federal Emergency Management Agency
119,811
180,933
Federal Aviation Administration
-
40,733
State of Alabama
-
6,879
Miscellaneous receivables
3,338
5,355
Accrued interest receivable
13,002
-
Notes receivable
167,952
-
Due from other funds of the City of Fairhope:
1977-1978 Public Improvement Assessment Fund
38,439
50,104
Electric Fund
62,615
122,798
Natural Gas Fund
9,917
14,483
Water and Wastewater Fund
-
5,990
Recreation Fund
523
80
Allowance for doubtful accounts
(1,355)
(1,355)
Total
434,137
483,832
CONSTRUCTION WORK IN PROGRESS
Sewer line construction
-
212,744
TOTAL ASSETS $
719,224
$ 934,865
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable, trade $
43,852
$ 72,113
Contracts payable
44,416
71,281
Payroll taxes payable
8,177
8,648
Employees' retirement. payable
8,968
8,200
Sundry payables
4,875
582
General obligation note payable -
First National Bank of Baldwin County
146,001
146,001
Note payable, McGowin Trusts
-
49,466
Due to other funds of the City of Fairhope:
Water and Wastewater Fund
12,302
-
TOTAL LIABILITIES
268,591
356,291
FUND BALANCE
450,633
578,574
TOTAL LIABILITIES AND FUND BALANCE, S 719,224 $ 934,865
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
33
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF CHANGES IN FUND BALANCE
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
FUND BALANCE AT BEGINNING OF YEAR $ 578,574
.General Fund revenues 1,796,619
General Fund expenditures 1,886,413
89,794)
Add: Notes receivable from customer for
payment on sewer line constructed 167,952
Cash payment from customers on sewer line 81,797
249,749
Less: Transfer of completed sewer line
constructed to Water and Wastewater Fund 287,896
38,147)
FUND BALANCE AT END OF YEAR $ 45�0,63333
J
1980
$ 587,432
2,045,509
2,054,367
8,858)
$ 578,574
The notes to the financial statements are an integral part of this statement.
PARKER. FICKLING i JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF REVENUES WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
LOCAL TAXES
'Real estate
Automobile tags and tax
Beer tax
Liquor tax
Wine tax
Dog tax
Total
LICENSES AND PERMITS
Business licenses
Beer and liquor licenses
Job license fees
Building permits and
inspection fees
Rezoning permits
Insurance company franchise
''Cable T. V. franchise
Total
FINES AND FORFEITURES
STATE OF ALABAMA
Share of state liquor profits
Financial institution excise tax
Motor vehicle licenses
Oil production privilege tax
Grant, LEPA
Grant, airport project
Grant, CEIG
Total
UNITED STATES GOVERNMENT
Federal Aviation Administration
Federal Emergency Management
Agency
Federal Disaster Assistance
Administration
Total
1981 1980
Over (Under)
Actual Budget Budget Actual
-
$ 178,451
51,317
31,934
20,656
6,043
371
288,772
133,212
7,248
2,329
9,351
883
39,736
4,674
197,433
69,826
16,633
22,834
1,910
1,438
890
43,121
2,800
89,626
407,219
16,980
18,898
$ 443,097
$ 155,000
37,000
28,000
16,000
5,000
500
241,500
120,000
3,200
2,500
9,000
1,000
37,000
1,600
174,300
70,000
17,000
30,000
1,700
100
50,000
98,800
$ 23,451
14,317
3,934
4,656
1, 043-
(129)
47,272
13,212
4,048
(171)
351
(117)
2,736
3,074
23,133
(174)
(367)
(7,166)
210
1,338
890
(6,879)
2,800
9,174)
550,000 (142,781)
16,980
$ 165,156
36,286
30,396
18,812
467
251,117
115,585
1,106
2,755
9,171
907
36,232
1,591
167,347
64,537
15,809
30,546
1,754
230
6,879
55,218
101,951
486,166
- 18,898 9,213
$ 550,000 $ 106,903) $ 597,330
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
34
1981
1980
Over Under
Actual
Budget
Budget
Actual
INTEREST AND RENTS
Interest - bank deposits
$ 4,542
$ 14,000
$ (9,458)
$ 19,316
Interest - street assessments
3,023
3,500
(477)
1,766 .
Interest - other
12,669
-
12,669
-
Municipal airport lease
8,065
6,500
1,565
6,371
Municipal pier lease
5,211
3,700
1,.511
3,914
Fishing dock stall rentals
3,541
5,400
(1,859)
3,890
Del -Fair rentals
9,811
-
9,811
-
Other rents
1,597
1,420
177
1,613
Total
48,459
34,520
13,939
36,870
CHARGES FOR SERVICES
Sanitation collection
106,358
104,000
2,358
103,955
Dog pound fees
538
300
238
290
Total
106,896
104,300
2,596
104,245
OTHER REVENUES
Beach revenue
10,587
21,000
(10,413)
22,036
Donations: 1
Kendukeas Foundation
2,017
-
2,017
-
Fairhope Single Tax Colony
3,000,
-
3,000
40,000
Baldwin Square Shopping Center
-
-
-
8,900
Sale of fixed assets
7,380
-
7,380
-
Grant, South Alabama Regional
Planning Commission
3,360
4,000
(640)
2,424
Qualifying fees
-
-
-
750
Insurance claims
10,717
-
10,717
22,601
Sales of materials and
miscellaneous income
5,449
11,700
(6,251)
17,291
Total
42,510
36,700
5,810
114,002
LOAN PROCEEDS DISBURSED
-
-
-
70,000
TRANSFERS FROM UTILILTY FUNDS
Electric Fund
236,000
230,000
6,000
218,000
Natural Gas Fund
254,000
248,000
6,000
.218,000
Natural Gas Fund - street
resurfacing
-
-
-
128,843
Water and Wastewater Fund
20,000
20,000
-
20,000
Total
510,000
498,000
12,000
584,843
TOTAL REVENUE
$1,796,619
$1,808,120
$ (11,501)
$2,045-,509
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C. -
35
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF EXPENDITURES WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
1980
Over (under)
Actual
Budget
Budget
Actual
GENERAL GOVERNMENT
Salaries:
Mayor and council $
8,400
$ 8,400
S -
$ 8,400
City clerk and assistants
26,716
30,000
(3,284)
17,975
Building inspector, janitor
and mechanics
30,315
29,685
630
27,633
City attorney
5,100
4,500
600
3,000
City judge
6,000
5,400
600
5,108
Convention, travel and continuing
education
10,849
7,300
3,549
8,087
Audit fees
3,250
3,000
250
2,950
Accounting services
250
18,500
(18,250)
3,000
Legal fees
57,901
10,000
47,901
7,352
General supplies and maintenance
12,848
12,800
48
7,718
Office supplies and postage
10,213
6,600
3,613
8,199
Telephone
9,867
8,000
1,867
7,875
Computer service
2,454
1,200
1,254
1,390
Publications in newspaper
2,087
1,500
587
1,452
Dues and memberships
6,345
5,100
1,245
5,048
Insurance, casualty
27,011
27,000
11
28,368
Colony rent
2,846
1,000
1,846
922
Payroll taxes
6,921
4,052
2,869
3,330
Employees' retirement
8,189
5,400
2,789
2,963
Employees' medical insurance
9,266
6,700
2,566
7,124
Municipal airport operating expenses
5,478
2,500
2,978
7,346
Property reappraisal program
9,107
-
9,107
21,000
Engineering fees
2,800
-
2,800
750
Professional services
3,998
1,500
2,498
1,369
Employees' Christmas bonus
2,900
3,000
(100)
3,000
Miscellaneous
552
1,600
(1,m )
.959
Shuttle bus expense
3,440
1,000
2,440
3,391
Freight
590
300
290
268
Musiac
305
300
5
300
Codification
-
7,250
(7,250)
-
Maintenance - Adult Recreation
Center 406
200
206
175
Maintenance - Fishermans Wharf
770
1,000
(230)
3,448
Maintenance - Health Center
458
-
458
180
Maintenance - Civic Center
863
300
563
151
Election expense
30
-
30
3,094
Municipal code
3,500
3,000
500
1,500
Trustee fees
466
550
(84)
1,403
Fireworks donation
400
-
400
500
Capital purchases
15,636
10,000
5,636
5,540
Total
S 298,527 S
228,637
$ 69,890 $
212,268
(continued)
The notes to the financial statements are an integral
part of
this statement.
PARKER• FICKLING B JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
36
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF EXPENDITURES WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981.BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
1980
Over (Under)
Actual
Budget
Budget
Actual
BEACH DEPARTMENT
Salaries
$ 4,347
$ 7,000
$ (2,653)
$ 7,611
Beach repairs and maintenance
6,090
5,000
1,090
5,676
Beach decals
-
-
-
2,130
Payroll taxes
289
400
(111)
467
Total
10,726
12,400
1,674)
15,884
SANITATION DEPARTMENT
Trash contract
12,667
-
12,667
-
Sanitation contract
90,076
85,000
5,076
83,888
Landfill charges
16,041
6,500
9,541
7,533
Rent
1,479
2,000
(521)
3,400
Capital purchases
3,069
2,000
1,069
1,352
Total
123,332
95,500
27,832
96,173
POLICE DEPARTMENT
Salaries
237,169
223,000
14,169
206,176
Gasoline and oil
20,918
17,000
3,918
16,803
Auto repairs and maintenance
8,525
6,500
2,025
7,541
Maintenance of radio equipment'
1,145
1,000
145
935
Radio lease
1,500
-
1,500
-
Jail and police supplies
7,474
4,000
3,474
5,740
Uniforms
2,895
2,500
395
2,399
Training
755
600
155
121
Police annuity and driver
education funds
3,020
4,200
(1,180)
3,973
Fair trial tax
1,316
-
1,316
-
Prisoners' meals
2,401
850
1,55.1'.
1,120
Payroll taxes
15,459
13,600
1,859
12,639
Employees' retirement
26,256
16,200
10,056
19,893
Employees' medical insurance
16,410
21,500
(5,090)
8,101
NCIC data system
2,460
2,400
60
2,400
Liability insurance
3,425
3,800
(375)
3,738
Miscellaneous
450
500
(50)
181
Repairs and general maintenance
1,934
2,000
(66)
5,585
Capital purchases
18,653
10,000
8,653
15,993
Total
$ 372,165 $
329,650
$ 42,515
$ 313,338
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
37
CITY OF FAIRHOPE, ALABAMA
I GENERAL FUND
STATEMENT OF EXPENDITURES WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
FIRE DEPARTMENT
,Salaries
Gasoline and oil
Supplies
Vehicle and equipment repairs
Repairs and general maintenance
Training
Insurance - Volunteer Fire Dept.
Liability insurance
Miscellaneous
Donation - Volunteer Fire Dept.
Payroll taxes
Employees' retirement
Employees' medical insurance
Capital purchases
Total
STREET DEPARTMENT
Salaries
Gasoline and oil
Repairs and maintenance -
Vehicles and equipment
Materials and supplies
Equipment rental
Uniforms
Payroll taxes
Employees' retirement
Employees' medical insurance
Capital purchases
Street resurfacing
Morphy Avenue street project
Total
1981
Over ZiJnder)
Actual
Budget
Budget
$ 49,023
$ 61,000
$ (11,977) $
2,995
1,700
1,295
3,`864
8,000
(4,136)
4,359
10,000
(5,641)
1,473
2,000
(527)
2,028
2,400
(372)
709
-
709
1,999
3,177
5,432
4,808
7,194
87,061
191,483
42,088
:11,
3,700
5,800
5,300
4,000
104,700
175,000
25,000
(800)
1,999
(523)
(368)
(492)
3,194
17,639)
16,483
17,088
iQRn
Actual
59,079
2,155
7,258
9,815
2,452
2,025
675
1,576
2
3,622
3,810
4,476
5,920
102,865
178,618
31,173
30,543 _
55,000
(24,457)
67,126
38,670
20,000
18,670
29,034
470
-
470
-
874
650
224
705
12,490
10,700
1,790
10,949
21,251
19,600
1,651
11,389
16,664
19,100
(2,4361...
16,121
19,850
25,000
(5,150)
28,214
-
-
-
128,843
1,702
-
1,702
54,678
$ 376,085
$ 350,050
$ 26,035 $
556,850
(continued)
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING i JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
38
CITY OF FAIRHOPE, ALABAMA
GENERAL FUND
STATEMENT OF EXPENDITURES WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
STAFF AGENCIES AND OTHER:
,Staff agencies:
Planning Board
Christmas gifts for boards
Other
Fairhope Public Library:
Monthly transfer
Salaries and other expenses
Baldwin County Mental Health
Baldwin County Civil Defense
Total
DEBT SERVICE
General obligation warrants
Interest
Total
OTHER EXPENDITURES
Municipal Airport:
Runway strengthening project
Land acquisition and
additional improvements
Transfer to Civic Center Fund
Extraordinary losses:
Flood damage repair cost
Hurricane damage repair
cost
Total
TOTAL .EXPENDITURES
1981
1980
Over Under
Actual
Budget
Budget
Actual
$ 195
$ 250
$ (55)
$ 197
489
-
489
-
16,397
12,250
4,147
6,403
498
-
498
745
-
-
-
2,738
144
144
-
144
17,723
12,644
5,079
10,227,
69,000
40,000
29,000
40,000
58,275
50,000
8,275
49,476
127,275
90,000
37,275
89,476
-
-
-
t
19,910
456,539
611,111
(154,572)
151,267
-
-
-
50,000
-
-
-
11,517
16,980
-
16,980
424,592
473,519
611,111
137,592)
657,286
$1,886,413
$1,834,692
$ 51,721
$2,054,367
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
39
CITY OF FAIRHOP.E, ALABAMA
SPECIAL REVENUE FUND
FEDERAL REVENUE SHARING FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
1981 1980
CASH
In First National Bank of Baldwin County $ 2 $ 1
TOTAL ASSETS 2 $ 1
LIABILITIES AND FUND BALANCE
LIABILITIES $ - $
FUND BALANCE 2 1
TOTAL LIABILITIES AND FUND BALANCE $ 2 $ 1
The notes to the financial statements are an integral part of this statement.
PARKER. FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
40
CITY OF FAIRHOPE, ALABAMA
FEDERAL REVENUE SHARING FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
REVENUE
Federal Entitlement -
U. S. Revenue Sharing
EXPENDITURES
Transfers to the Fairhope
Public Library Board
EXCESS REVENUE OVER (UNDER)
EXPENDITURES
FUND BALANCE AT BEGINNING OF
YEAR
FUND BALANCE AT END OF YEAR
1981
Over (Under)
Actual Budget Budget
$ 48,854 S 53,000 9 (4,146)
48,853 53,000
1 -
1
1
$ 2
$ 1
1980
Actual
$ 51,698
(4,147) 51,697
1 1
The'notes to the financial statements are an integral part of this statement.
PARKER. FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
41
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
STATE OF ALABAMA GASOLINE EXCISE TAX FUNDS
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
1981 1980
CASH
In First National Bank of Baldwin County:
Checking account, 7t tax fund $ 8,679 $ 15,227
Checking account, 4� tax fund 15,511 -
24,190 15,227
RECEIVABLES
Due from City of Fairhope, 1977-1978
Public Improvement Assessment Fund 67,991 67,991
TOTAL ASSETS $ 92,181 $ 83,218
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable, trade $ 1,962 $ 664
FUND BALANCE 90,219 82,554
TOTAL LIABILITIES AND FUND BALANCE $ 92,181 $ 83,218
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING B JORDAN. CERTIFIED PUBLIC ACCOUNTANTS. P.C.
42
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
STATE OF ALABAMA GASOLINE EXCISE TAX FUNDS
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
1980
Over Under
Actual
Budget
Budget
Actual
REVENUE
State of Alabama
Gasoline excise tax (70
$ 27,580
$ 30,000
$ (2,420)
$ 29,993
Gasoline excise tax (40
15,528
10,000
5,528
—
Total revenue
43,108
40,000
3,108
29,993
EXPENDITURES
Office supplies
17
— 17
—
Street materials and supplies
2,867
10,000 (7,133)
7,633
Capital purchases
32,559
— 32,559
5,130
Total expenditures
35,443
10,000 25,443
12,763
EXCESS REVENUE OVER (UNDER)
EXPENDITURES
7,665
30,000 (22,335)
17,230
FUND
BALANCE
AT
BEGINNING OF YEAR
82,554
82,554
— 65,324
FUND
BALANCE
AT
END OF YEAR
$ 90,219
$112,554
$(22,335) $ 82,554
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
43
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION OPERATING FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
1981 1980
Cash
On hand $ 160 $ -
In First National Bank of Baldwin County 10,286 16,789
Accounts receivable - 491
TOTAL ASSETS $ 10,446 $ 17,280
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable, trade $ 3,894 $ 517
Payroll taxes payable 194 142
Due to City of Fairhope - General Fund 523 80
TOTAL LIABILITIES 4,611 739
FUND BALANCE
TOTAL LIABILITIES AND FUND BALANCE
5,835 16,541
$ 10,446 $ 17,280
The notes to the financial statements are an integral part of this statement.
PARKER. FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
44
CITY OF FAIRHOPE, ALABL14A
SPECIAL REVENUE FUND
RECREATION OPERATING FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
1980
Over Under
Actual
Budget
Budget
Actual
REVENUES
Cigarette tax
$ 25,499
$ 21,000
$ 4,499
$ 20,830
Beer tax
31,986
30,000
1,986
30,388
Recreation programs
-
-
-
840
Parking at stadium
2,889
1,000
1,889
4,347
Miscellaneous
563
-
563
-
Interest earned
-
-
-
577
Rental football stadium
1,507
-
1,507
1,000
Total revenues
62,444
52,000
10,444
57,982
EXPENDITURES
Salaries
Payroll taxes
Athletic equipment
Repairs, maintenance
and supplies
Telephone and utilities
Cost of cigarette stamps
Gasoline and oil
Audit
Accounting services
Adult and tourist
recreation program
Tennis director
Summer youth art classes
Baseball clinic
Colony rent
Rental
Football parking attendants
Miscellaneous
Insurance
Capital purchases
Clean up crews
Adult program director
Directors' expenses '
Transfers to Recreation
Improvement Fund
19,071
16,000
3,071
12,958
1,790
1,050
740
794
1,492
1,100
392
1,377
14,939
7,500
7,439
13,915
2,285
2,350
(65)
2,438
-
-
-
3,869
2,772
900
1,872
1,025
400
400
-
350
79
600
(521)
600
2,700
2,700
-
2,700
900
900
-
900
400
-
400
-
500
-
500
-
2,236
2,250
(14)
2,249
458
600
(142)
1,580
1,705
950
755
1,400
375
300
75
108
331
400
(69)
349
15,925
14,000
1,925
-
-
-
-
150
-
-
-
825
292
-
292
604
4,500 -
TOTAL EXPENDITURES (carried forward) 73,150 52,000
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
4,500 7,000
21,150 55,191
45
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION OPERATING FUND
STATEMENT OF,REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30; 1981 AND 1980
1981
Over Under)
Actual Budget Budget
TOTAL EXPENDITURES (brought forward) $ 73,150 52,000 $ 21,150
EXCESS REVENUES OVER (UNDER)
EXPENDITURES (10,706) - (10,706)
FUND BALANCE AT BEGINNING OF YEAR
FUND BALANCE AT END OF YEAR
16,541 16,541 -
$ 5,835 $ 16,541 $(10,706)
1980
Actual
$ 55,191
2,791
13,750
$ 16,541
t
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
46
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION CAPITAL IMPROVEMENT FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
1981 1980
CASH IN FIRST NATIONAL BANK OF BALDWIN COUNTY:
Recreation Project Improvement - checking S 218 3,252
Recreation Project Improvement - savings 12,811 12,156
Sinking Fund, general obligation recreational
warrants 9,497 7,362
Total cash 22,526 22,770
RECEIVABLES
Fairhope High School - 2,449
State of Alabama - grant 25,346 -
TOTAL ASSETS $ 47,872 $ 25,219
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payble, trade $ 4,990 $ -
FUND BALANCE 42,882 25,219
TOTAL LIABILITIES AND FUND BALANCE $ 47,872 $ 25,219
In
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING d JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
47
CITY OF FAIRHOPE, ALABAMA
SPECIAL REVENUE FUND
RECREATION CAPITAL IMPROVEMENT FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
REVENUES
Cigarette tax
Beer tax
Parking at football stadium
Interest earned
Grant, State of Alabama
Donated salaries - other
Funds of City
Transfer from Recreation
operating
Total revenue
EXPENDITURES
Debt service, principal
Debt service, interest
Stimpson Field project
Volanta Field project
Professional services
Total expenditures
EXCESS REVENUE OVER (UNDER)
EXPENDITURES
FUND BALANCE AT BEGINNING
OF YEAR
FUND BALANCE AT END OF YEAR
1981
1980
Over (Under)
Actual
Budget
Budget
Actual
S 13,025
$ 13,000
$ 25 $
12,466
21,225
20,000
1,225
20,259
-
1,000
(1,000)
-
1,326
1,326
1,255
58,752
58,752
19,108
16,818
16,818
4,500
4,500
7,000
115,646
34,000
81,646
60,088
15,000
15,000
15,000
13,698
14,000
(302)
14,028
-
-
-
45,839
69,285
4,950
64,335
50
(50)
97,983
34,000
63,983
74,867
17,663
-
17,663
(14,779)
25,219
25,219
-
39,998
$ 42,882
$ 25,219
$ 17,663
$ 25,219
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
48
CITY OF FAIRHOPE, ALABAMA
CIVIC CENTER CAPITAL PROJECTS FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
CASH
Cash in First National Bank of Baldwin County:
Savings account
Certificate of deposit
Accrued interest receivable
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
LIABILITIES
FUND BALANCE
TOTAL LIABILITIES AND FUND BALANCE
1981 1980
$ 674 $ 53,786
59,972 -
229 -
S 60,875 $ 53,786
60,875 53,786
$ 60,875 $ 53,786
The notes to the financial statements are an integral part of this statement.
PARKER, FICKIING 9 JORDAN. CERTIFIED PU6UIC ACCOUNTANTS. P.C.
49
CITY OF FAIRHOPE, ALABAMA
CIVIC CENTER CAPITAL PROJECTS FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
REVENUE
Transfers from General Fund of
the City of Fairhope
Interest earned
Loan proceeds, general
obligation note
Total revenue
EXPENDITURES
Capital purchases - building
EXCESS REVENUE OVER EXPENDITURES
FUND BALANCE AT BEGINNING OF YEAR
1981 1980
Over Under)
Actual Budget Budget Actual
$ 50,000
7,089 - 7,089 3,786
400,000 - 400,000
407,089 - 407,089 53,786
400,000 - 400,000 -
7,089 - 7,089 53,786
53)786 53,786 - -
$ 60,875 $ 53,786 $ 7�089 $ 53�,786
statements are an integral part of this statement.
PARKER, FICKLING L JORDAN, CERTIFIED PUBLIC ACCOUNTANTS. P.C.
50
CITY OF FAIRHOPE, ALABAMA
SPECIAL ASSESSMENT FUND
1977 - 1978 PUBLIC IMPROVEMENT ASSESSMENT FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
1981 1980
CASH
In First National Bank of Baldwin County:
Checking account $ 134 $ 3,472
Savings account 30,775 16,999
Certificate of deposit 204,031 177,775
In Merchants National Bank of Mobile:
Bond sinking funds 62,795 62,358
Total cash 297,735 260,604
RECEIVABLES
1977 - 1978 assessments 370,119 443,838
Accrued interest on certificate of deposit - 3,156
Total receivables 370,119 446,994
TOTAL ASSETS $667,854 $707,598
LIABILITIES AND FUND BALANCE
LIABILITIES
Due to City of Fairhope - State Gasoline Fund $ 67,991 $ 67,991
Due to City of Fairhope General Fund 38,439 50,104
General obligation public improvement
bonds payable 320,000 360,000
General obligation various purpose
warrants payable 203,700 224,700
TOTAL LIABILITIES 630,130 702,795
FUND BALANCE 37,724 4,803
TOTAL LIABILITIES AND FUND BALANCE $667,854 $707,598
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING A JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
51
CITY OF FAIRHOPE, ALABAMA
SPECIAL ASSESSMENT FUND
1977 - 1978 PUBLIC IMPROVEMENT ASSESSMENT FUND
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
WITH FISCAL YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
1980
Over Under
Actual
Budget
Budget
Actual
REVENUE
Interest earned:
Assessments
$ 34,877
$ 22,000
$ 12,877
$ 24,439
Bank deposits
31,816
18,000
13,816
12,450
Total revenue
66,693
40,000
26,693
36,889
EXPENDITURES
Debt service, interest
32,835
36,000
(3,165)
35,732
Trustee fees
937
950
(13)
-
Total expenditures
33,772
36,950
3,178)
35,732
EXCESS REVENUE OVER (UNDER)
EXPENDITURES
32,921
3,050
29,871
1,157
FUND BALANCE (DEFICIT) AT
BEGINNING OF YEAR
4,803
4,803
-
(13,678)
ADD:
1977 - 1978 Assessment roll
-
257,613
37,724
7,853
29,871
245,092
LESS:
r
Transfer of completed street
construction to General
Fixed Assets 240,289
FUND BALANCE AT END OF.YEAR $ 37,724 $ 7,853 $ 29,871 $ 4,803
The notes to the financial statements are an integral part of this statement.
PARKER, FICKIING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ELECTRIC FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
CURRENT ASSETS
Cash in First National Bank of Baldwin County:
Operating account
Passbook savings accounts
Certificate of deposit
Sinking fund - general obligation electric
warrants
Total cash
Receivables:
Utility customers
Federal Disaster Assistance Administration
Accrued interest
Miscellaneous
Allowance for uncollectible'accounts
Total receivables
Materials inventories
Prepaid operating expenses
Total current assets
PROPERTY, PLANT AND EQUIPMENT (at cost)
Electric plant and distribution system
Vehicles and equipment
Accumulated depreciation
Total property, plant and equipment - net
OTHER ASSETS
Unamortized debt issue cost
Accounts receivable, City of Fairhope,
Water and Wastewater Fund
Total other assets
TOTAL ASSETS
1981 1980
$ 229,732 $ 257,051
.17,075 92,502
217,968 140,000
14,197 13,433
478,972 502,986
282,021
271,599
-
22,135
253
2,565
1,878
1,816
(40,355)
(19,703)
243,797
278,412
80,194
80,629
7,414
7,690
810,377
869•,717
2,689,597 2,444,974
247,506
156,639
2,937,103
2,601,613
(860,962)
(761,647)
2,076,141
1,839,966
•879 1,066
7,639 -
8,518. 1,066
$2,895,036 $2,710,749
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
52
LIABILITIES AND CAPITALIZATION
1981 1980
CURRENT LIABILITIES
Accounts payable, trade $ 272,632 $ 310,840
Accrued expenses and taxes:
Payroll taxes 2,162 3,202
Utility taxes 19,204 17,416
Employees' retirement contribution 2,930 2,742
Interest 3,770 4,186
Insurance withholding 112 112
Total accrued expenses and taxes 28,178 27,658
Customer deposits 227,596 210,694
General obligation electric warrants 34,000 32,000
Total current liabilities 562,406 581,192
NON CURRENT LIABILITIES
General obligation electric warrants 256,000 290,000
Accounts payable, City of Fairhope:
General Fund 62,615 122,798
Natural Gas Fund 101,904 83,758
Water and Wastewater Fund 13,994 11,626
Total non current liabilities 434,513 508,182
Total liabilities 996,919 1,089,374
CAPITALIZATION
Contributions in aid of construction 87,805 84,233
Retained earnings 1,810,312 1,537,142
Total capitalization 1,898,117 1,621,375
TOTAL LIABILITIES AND CAPITALIZATION $2,895,036 $2,710,749
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING 9 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
ELECTRIC FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
WITH YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
OPERATING REVENUE
Sales of electric energy
Other charges, sales and receipts
Total operating revenues
1981
Over (Under)
Actual
Budget
Budget
$3,128,863
$2,565,000
$ 563,863
42,465
38,000
4,465
3,171,328
2,603,000
568,328
OPERATING EXPENSES
Purchased power
Operating, maintenance and
administrative salaries
Audit fees
Accounting services
Bad debts
Bond issue expense
Christmas bonuses
Computer expenses
Electric energy furnished other
divisions of the City
Dues and memberships
Engineering services
Gasoline and oil
Insurance - casualty
Insurance - employees' group
Legal fees
Plant maintenance and operating
supplies
Maintenance vehicles and equipment
Miscellaneous
Office supplies and postage
Payroll taxes
Professional services
Employees' retirement
Rental
Telephone
Travel, training and school
Uniforms
Total operating expense
EARNINGS FROM OPERATIONS BEFORE
DEPRECIATION
Depreciation
EARNINGS FROM OPERATIONS
(carried forward)
1980
Actual
$2,439,541
43,189
2,482,730
2,155,667
1,821,000
334,667
1,779,169
214,559
190,900
23,659
180,343
2,325
2,200
125
2,100
200
2,400
(2,200)
2,400
20,534
1,000
19,534
7,073
185
200
(15 )
185
750
700
50
700
10,284
6,300
3,984
6,352
35,548
18,000
17,548
23,288
13,152
8,000
5,152
9,877
16,614
12,000
4,614
131299
10,637
9,000
1,637
9,362
20,747
18,500
2,247
22,286
17,724
16,400
1,324
13,289
5,000
-
5,000
-
28,506
13,000
15,506
21,585
12,267
10,000
2,267
8,163
209
1,300
(1,091)
519
3,709
7,500
(3,791)
6,163
16,692
15,000
1,692
13,930
-
100
(100)
120
25,817
24,000
1,817
13,393 `
350
1,000
(650)
607
3,553
3,500
53
3,552
3,091
3,000
91
2,387
296
500
(204)
562
2,618,416
2,185,500
432,916
2,140,704
552,912
417,500
135,412
342,026
99,315
73,000
26,315
80,448
$ 453,597 $ 344,500 $ 109,097 $ 261,578
PARKER, FICKLING & JORDAN. CERTIFIED PUBLIC ACCOUNTANTS, P.C.
53
EARNINGS FROM OPERATIONS
(brought forward)
OTHER (DEDUCTIONS) INCOME
Interest expense
Interest earned
Earnings transferred to
the General Fund of the
City of Fairhope
Extraordinary losses:
Flood damage repair cost
Federal assistance for
flood damage
Hurricane damage direct
repair cost
Federal assistance for
hurricane damage
Red Cross - reimbursement
for hurricane expenses
Alabama Power Company refund
Total other (deductions)
income
NET INCOME
Retained earnings at beginning
of year
RETAINED EARNINGS AT END
OF YEAR
1981
\
1980
Over (Under)
Actual
Budget
Budget
Actual
$ 453,597
S 344,500
$ 109,097 S
261,578
(16,328)
(17,000)
(672)
(17,985)
30,756
20,000
10,756
21,599
(236,000) (230,000) 6,000 (218,000)
- - - (13,535)
18,898 - 18,898 9,301
- - - (67,490)
- 77,882
- 4,656
22,247 - 22,247 -
(180,427)
(227,000)
(46,573) (203,572)
273,170
117,500
155,670 58,006
1,537,142
1,537,142
- 1,479,136
$1,810,312 $1,654,1i42 S 155,670 $1,537,142
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING i JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE , ALABAMA
NATURAL GAS FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
CURRENT ASSETS
Cash in First National Bank of Baldwin County:
Operating accounts
Savings account
Certificate of deposit
Cash in Merchants National Bank of Mobile,
bond sinking fund
Total cash
Receivables:
Accrued interest
Bulk gas customer - Town of Daphne
Federal Disaster Assistance Administration
Federal Emergency Management Agency
Miscellaneous
Allowance for doubtful accounts
Total receivables
Materials inventories
Prepaid operating expenses
Total current assets
SINKING FUNDS
Merchants National Bank of Mobile, first
mortgage revenue bonds, 1961 series,
reserve and replacement funds
PROPERTY, PLANT AND EQUIPMENT (at cost)
Natural gas plant and distribution system
Vehicles and equipment
Accumulated depreciation
Total property, plant and equipment - net
OTHER ASSETS -
Accounts receivable, City of Fairhope:
Electric Fund
Waste and Wastewater Fund
Total other assets
-TOTAL ASSETS
1981 1980
$ 24,027 $ 176,907
10,575 92,656
145,350 -
45,254 44,700
225,206 314,263
463
5,146
39,898
26,036
-
5,091
1,571
1,571
3,583
8,051
(1,860)
(1,860)
43,655
44,035
70,350
47,515
9,628
9,821
348,839
415,634
157,511 153,930
1,577,766 1,432,898
133,258
112,009
1,711,024
1,544,907
(875,916)
(824,029)
835,108
720,878
101,904
83,758
45,964
.45,964
147,868
129,722
$1,489,326
$1,420,164
PARKER, FICKLING d JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
54
LIABILITIES AND. CAPITALIZAITON
1981 1980
CURRENT LIABILITIES
Accounts payable, trade $ 66,814 $ 48,993
Accrued expenses and taxes:
Town of Daphne 6,150 17,844
Payroll taxes 1,856 1,638
Employees' retirement contribution 2,367 1,796
Interest 6,600 7,200
Insurance withholding - 19
Total accrued expenses and taxes 16,973 28,497
First mortgage revenue bonds, 1961 series. 45,000 45,000
Total current liabilities 128,787 122,490
NON CURRENT LIABILITIES
First mortgage revenue bonds, 1961 series 450,000 495,000
Accounts payable, City of Fairhope,
General Fund 9,917 14,483
Total non current liabilities 459,917 509,483
Total liabilities 588,704 631,973
CAPITALIZATION
Contributions in aid of construction 112,020 72,055
Retained earnings 788,602 716,136
Total. capitalization 900,622 788,191
TOTAL LIABILITIES AND CAPITALIZATION $1,489,326 $1,420,164
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING 8 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
NATURAL GAS FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
WITH YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS
ENDED SEPTEMBER 30, 1981
AND 1980
1981
Over (Under)
Actual
Budget
Budget
OPERATING REVENUES
Sales of natural gas
$1,824,568
$1,790,000
$ 34,568
Miscellaneous sales and receipts
1,078
3,000
(1,922)
Total operating revenues
1,825,646
1,793,000
32,646
1980
Actual
$1,602,658
3,207
1,605,865
OPERATING EXPENSES
Natural gas purchases 1,236,133 1,207,000 29,133 960,994
Operating, maintenance and
administrative salaries
Audit fees
Accounting services
Bad debts
Christmas bonuses
Computer expenses
Dues and memberships
Engineering services
Gasoline and oil
Insurance - casualty
Insurance - employees group
Legal fees
Plant maintenance and operating
supplies
Maintenance - vehicles and equipment
Miscellaneous
Office supplies and postage
Payroll taxes
Employees' retirement
Surveyor
Telephone
Utilities
Travel, training and school
Trustee fees
Uniforms
Distribution of joint revenue
Total operating expenses
EARNINGS FROM OPERATIONS
BEFORE•DEPRECIATION
Depreciation
117,371
110,400
6,971
111,717
2,325
2,200
125
2,100
165
1,800
(1,635)
1,800
-
1,000
450
500
(50)
450
8,833
6,000
2,833
5,106
4,829
3,000
1,829
3,561
13,109
8,000
5,109
7,358
11,181
7,700
3,481
8,914
18,148
27,000
(8,852)
17,140-
10,772
7,800
2,972
6,292
2,738
500
2,238
205
23,832
17,000
6,832
11,955
7,906
5,300
2,606
5,172
194
1,000
(806)
9
4,460
4,600
(140)
4,392
14,152
8,000
6,152
7,807
18,979
15,000
3,979
6,492
-
-
-
100
2,681
2,700
(19)
2,778
1,005
1,300
(295)
1,260
3,215
2,200
1,015
1,707
540
-
540
580
546
300
246
293
6,150
4,200
1,950
6,300
.,509,714
1,443,500
66,214
1,175,482
315,932
349,500
(33,568)
430,383
51,887
51,000
887
48,747
EARNINGS FROM OPERATIONS
(carried forward) $ 264,045 $ 298,500 $ (34,455) $ 381,636
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
55
EARNINGS FROM OPERATIONS
(brought forward)
OTHER (DEDUCTIONS) INCOME
Interest expense
Interest earned
Earnings transferred to the
General Fund of the City of
Fairhope
Purchased natural gas refunds
for prior years
Transfers to General Fund
for street resurfacing
Extraordinary losses:
Hurricane damage, repair
cost and loss natural gas
Federal assistance for
hurricane damage
Total other (deductions)
income
NET EARNINGS
RETAINED EARNINGS AT
BEGINNING OF YEAR
RETAINED EARNINGS AT END OF
YEAR
1981
1980
Over (under)
Actual
Budget
Budget
Actual
$ 264,045
$ 298,500
$ (34,455) $
381,636
(20,100)
(22,000)
(1,900)
(21,858)
31,795
28,000
3,795
27,334
(254,000)
(248,000)
6,000
(218,000)
50,726
-
50,726
180,462
-
-
-
(128,843)
- (898)
(6,976)
(191,579) (242,000) 50,421 (168,779)
72,466 56,500 15,966 212,857
716,136 716,136 - 503,279
$ 788,602 $ 772,636 $ 15,966 9 716,136
The notes to the financial statements are an integral part of this statement.
PARKER, FICKIING 6 JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
WATER ANT) WASTEWATER FUND
BALANCE SHEET
SEPTEMBER 30, 1981 AND 1980
ASSETS
CURRENT ASSETS
Cash in First National Bank of Baldwin County:
Operating account
Passbook savings accounts
Construction accounts
Bond sinking fund
Certificate of deposit (Note 24)
Cash in Merchants National Bank of Mobile,
bond sinking fund
Total cash
Receivables:
1981 1980
$ 8,031 $ 18,662
507 40,439
15,946 459
21,865 19,445
868,647 -
51,930 44,603
966,926 123,608
Federal Disaster Assistance Administration - 26,119
Federal Emergency Management Agency 1,179 1,179
Miscellaneous 1,297 12,364
Accrued interest 7,201 2,894
Deposits on equipment 6,000 3,400
Allowance for doubtful accounts (1,076) (1,076)
Total receivables 14,601 44,880
Materials inventories 51,890 36,918
Prepaid operating expenses 6,360 5,834
Total current assets 1,039,777 211,240
SINKING FUNDS
Merchants National Bank of Mobile
Reserve and replacement funds
PROPERTY, PLANT AND EQUIPMENT (at cost)
Water and wastewater systems
Water line construction
Vehicles and equipment
Accumulated depreciation
Total property, plant and equipment - net
OTHER ASSETS
Unamortized debt cost
Unamortized deferred plant maintenance
Receivable - Electric Fund
General Fund
Total other assets
TOTAL ASSETS
92,580 88,682
4,800,025 4,454,485
1,580,070 -
74,090 49,008
6,454,185
4,503,493
(1,254,375)
(1,127,160)
5,199,810
3,376,333
11,601
18,962
6,355
12., 302
49,220
$6,381,387
13,318
25,454
11,626
50,398
$3,726,653
PARKER, FICKLING d JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
56
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES
,Accounts payable, trade
Contracts payable
Accrued expenses and taxes:
Payroll taxes
Employees' retirement contribution
Interest
Employee insurance
Total accrued expenses and taxes
Customers' deposits
First mortgage revenue bonds payable
Total current liabilities
NON CURRENT LIABILITIES
Water Revenue Bond Anticipation Note
First mortgage revenue bonds payable
Accounts payable, City of Fairhope:
General Fund
Natural Gas Fund
Total non current liabilities
Total liabilities
CAPITALIZATION
Contributions in aid of construction:
United States Government
Customers and developers
Other funds of the City of Fairhope
Retained earnings
Total capitalization
1981 1980
$ 18,285 $ 15,629
•164,454 -
2,007 1,946
2,674 2,268
49,959 22,218
34 79
54,674 26,511
5,832 39,075
65,000 60,000
308,245 141,215
2,192,000 -
1,170,000 1,225,000
3,362,000 1,225,000
5,990
45,964
45,964
45,964
51,954
3,407,964
1,276,954
3,716,209
1,418,169
1,077,352 1,069,106
710,457 377,757
38,147 r
839,222 861,621
2,665,178 2,308,484
TOTAL LIABILITIES AND CAPITALIZATION $6,381,387 $3,726,653
The notes to the financial statements are an integral part of t isstatement.
PARKER, FICKLING & JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
CITY OF FAIRHOPE, ALABAMA
WATER AND WASTEWATER FUND
STATEMENT OF INCOME AND RETAINED EARNINGS
WITH YEAR ENDED SEPTEMBER 30, 1981 BUDGET
FOR THE YEARS ENDED SEPTEMBER 30, 1981 AND 1980
1981
Over Under)
Actual Budget Budget
1980
Actual
OPERATING REVENUES
Sales of water $
434,907
$ 400,000
$ 34,907
$ 413,433
Wastewater charges
175,083
132,000
43,083
134,582
Other charges, sales and receipts
7,497
11,000
(3,503)
15,123
Total operating revenues
617,487
543,000
74,487
563,138
OPERATING EXPENSES
Electric power
Operating, maintenance and
administrative salaries
Audit fees
Accounting services
Bad debts
Bond issue expense
Christmas bonuses
Computer expenses
Legal
Dues and memberships
Engineering services
Gasoline and oil
Insurance - casualty
Insurance - employees' group
Plant maintenance and
operating supplies
Maintenance -vehicles and equipment
Miscellaneous
Office supplies and postage
Payroll taxes
Professional services
Employees' retirement
Rental
Telephone
Travel, training and school
Uniforms
Trustee fees
Total operating expenses
EARNINGS FROM OPERATIONS BEFORE
DEPRECIATION
Depreciation
EARNINGS FROM OPERATIONS
(carried forward)
70,960
60,000
10,960
62,359
168,518
157,600
10,918
140,354
2,325
2,200
125
2,100
150
1,500
(1,350)
1,800
-
1,000
(1,000)
885
800
85
885
650
600
50
600
9,469
5,400
4,069
5,455
3,794
500
3,294
442
148
210
(62)
123
4,054
3,500
554
4,841
8,267
6,000
2,267
6,468
17,164
14,000
3,164
16,756
17,385
12,500
4,885
10,781
82,440
61,492
20,948
77,643
9,043
6,000
3,043
5,129
116
1,000
(884)
377
5,091
2,400
2,691-
1,472
12,645
9,800
2,845
9,506
1,413
-
1,413
-
21,596
17,000
4,596
11,091
145
-
145
1,150
4,242
4,000
242
4,147
1,568
1,000
568
583
506
400
106
374
1,560
2,485
(925)
1,626
444,134
371,387
72,747
366,062
173,353
171,613
1,740
197,076
127,215
90,000
37,215
119,069
$ 46,138
$ 81,613
$ (35,475)
$ 78,007
PARKER, FICKLING d JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.
57 -
EARNINGS FROM OPERATIONS
(brought forward)
OTHER (DEDUCTIONS) INCOME
Interest expense
Interest earned
Earnings transferred to the
General Fund of the City
of Fairhope
Extraordinary losses:
Hurricane damage repair cost
TOTAL OTHER (DEDUCTIONS)
INCOME
NET INdOME (LOSS)
RETAINED EARNINGS AT BEGINNING`
OF YEAR
RETAINED EARNINGS AT END
OF YEAR
1981
1980
Over (Under)
Actual
Budget
Budget
Actual
$ 46,138
$ 81,613
$ (35,475)
$ 78,007
(138,234)
(71,700)
66,534
(71,300)
89,697
12,000
77,697
11,915
(20,000)
(20,000)
-
(20,000)
-
-
-
(1,305)
(68;537)
(79,700)
(11,163)
(80,690)
(22)399)
1,913
(24,312)
(2,683)
861,621
861,621
-
864,304
$ 839,222
8 863,534
$ (24,312)
$ 861,621
The notes to the financial statements are an integral part of this statement.
PARKER, FICKLING IL JORDAN, CERTIFIED PUBLIC ACCOUNTANTS, P.C.