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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. z unc mem e rr Al-- ouncilmember City C er 343 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.