ML20008F849
| ML20008F849 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 05/05/1981 |
| From: | LEESBURG, FL |
| To: | |
| Shared Package | |
| ML20008F848 | List: |
| References | |
| NUDOCS 8105120158 | |
| Download: ML20008F849 (106) | |
Text
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r ANNUAL FINANCIAL REPORT Fiscal Year Ending September 30,1980 l
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T City of Leesburg
Rorida I I
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1810512 O l@ l'
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CITY OF LEESBURG, Fi.0RIDA CITY COMMISSIONERS AND OFFICIALS September 30, 1980 Mayor-Commissioner ................... Burton Brown Mayor-Commi ssioner Pro-Tem . . . . . . . . . . . Jack Bradley Commi ssioner . . . . . . . . . . . . . . . . . . . . . . . . . Joe Sell ers Comi ssioner. . . . . . . . . . . . . . . . . . . . . . . . . . . Charles Gregg Comissioner. . . . . . . . . . . . . . . . . . . . . . . . . . Charles Strickland City Manager.......................... Calvin E. Glidewell City Clerk / Finance Director. . . . . . . . . . . James C. Schuster City Attorney.........................R. Dewey Burnsed
CITY OF LEESBURG, FLORIDA ANNUAL FINANCIAL REPORT YEARS ENDED SEPTEMBER 30, 1980 AND 1979.
TABLE OF CONTENTS Page Numbers I. INTRODUCTORY SECTION Title Page Table of Contents Transmittal Letter Organization Chart II. FINANCIAL SECTION Report of Certified Public. Accountants Exhibit Combined Statements - Overview:
1 Combined Balance Sheet - All Fund Types and Account Groups 1 2 Combined Statement of Revenues, Expenditures, and Changes In Fund Balances - All Governmental Fund Types 2 3 Combined Statement of Revenues Expenditures, and Changes In Fund Balances - Budget and Actual, General, Special Revenue, and Capital Projects Fund Types 3 4 Combined Stateraent of Revenues, Expenses and Changes in Retained Earnings / Fund Balances - All Proprietary Fund Types and Similar Trust Funds 4 5 Combined Statement of Changes in Financial Position - All Proprietary Fund Types and Similar Trust Funds 5-6 Notes to Financial Statements 7 - 20 Statement /
Scheoule Combining and Individual Fund Financial Statements:
GENERAL FUND A-1 Balance Sheet 21 A-2 Statemer t of Revenues and Other Financing Uses Budgeted and A.tual 22 - 23 A-3 State.nent of Expendi es and Other Financing Uses Budgeted and Actual 24 A-4 Statement of Changes in Fund Balances 25
CITY OF LEESBURG,' FLORIDA ANNUAL FINANCIAL REPORT YEARS ENDED SEPTEMBER 30, 1980 AND 1979-TABLE OF CONTENTS CONTINUED Statement / -
Page Schedule . Numbers SPECIAL REVENUE FUNDS B-1 Combining Balan:e Sheet - All Special Revenue Funds 26-B-2 Combining Statement of Revenues, Expenditures, and, Changes in Fund Balances - All Special Revenue Funds 27 Statements of Revenues and Expenditures.and Changes in Fund Balance - Budgeted and Actual:
B-3 Federal Revenue Sharing Fund 28 B-4 Community Development Fund 29 B-5 Housing Assistance Fund 30 DEBT SERVICE FUND C-1 Balance Sheet 31 C-2 Statement of Revenues, Transfers, Expenditures and Fund Balance 32 CAPITAL PROJECTS FUNDS D-1 Balance Sheet .
, 33 Statement of Revenues, Transfers, Expenditurest and Changes in Fund Balance:
0-2 All Capital Projects Funds 34 D-3 Airport Improvement Capital Projects Fund 35 D-4 Public Works Equipment Purchases 36 0-5 Project - Length Schedule of Construction Projects -
Airport Improvement Project 37 ENTERPRISE FUNDS E-1 Combining Balance Sheets 38 - 41 E-2 Combining Statement of Operations and Changes in Retained Earnings (Deficit) 42 E-3 Combining-Statement of Changes in Financial Position 43 - 44 INTERNAL SERVICE FUND F-1 Motor Pool Service Fund Balance Sheet 45 F-2 Motor Pool Service Fund Statement of Revenues, Expenses and Changes in Retained Earnings .
46 F-3 Motor Pool Service Fund Statement of Changes in Financial Position 47
CITY OF LEESBURG, FLORIDA ANNUAL FINANCIAL REPORT YEARS ENDED SEPTEMBER 30, 1980 AND 1979 TABLE OF CONTENTS CONTINUED Statement / Page Schedule Numbers FIDUCIARY TYPE FUNDS G-1 Combining Balance Sheet All Pension Trust Funds 48 G-2 Combining Statement of Revenues, Expenses and Changes in Fund Balences All cension Trust Funds 49 G-3 Combining Stateraant of Changes in Financial Position All Pension Trust Funds 50 ACCOUNT GROUPS H-1 Statement of General Long Term Debt 51 H-2 Statement of General Fixed Assets 52 H-3 Schedule of General Fixed Assets - By Functions and Activities 53 H-4 Statement of Changes in General Fixed Assets - By Functions and Activities .
54 H-5 Statement of Changes in General Fixed Assets - By Sources 55 SUPPLEMENTARY SCHEDULES Report of Certified Public Accountants I-l Combined Schedule of Investments - All Funds 56 - 58 I-2 General Fund Schedule of Expenditures and Other Financing Uses Budgeted and Actual 59 - 64 I-3 Summary Schedule of Utility Plant in Service Combined Utility Funds 65 Schedule of Utility Plant in Service:
I-4 Electric Utility Fund 66 I-5 Gas Utility Fund 67 I-6 Water Utility Fund 68 I-7 Sanitary Sewer and Wastewater Treatment Fund 69 I-8 Sanitation Services Fund 70 I-9 Ambulance Fund 71 I-10 Utility Rates Schedule 72 - 75 I-11 Schedule of Insurance in Force 76 - 78 III. STATISTICAL SECTION Tables 1 General Governmental Expenditures By Function 79 2 General Revenues By Source 80 3 Property Tax Levies and Collections 81 4 Assessed Value of Exempt and Taxable Property 82 - 83 5 Property Tax Rates - All Overlapping Governments 84
CITY OF LEESBURG, FLORIDA ANNUAL FINANCIAL REPORT YEARS ENDED SEPTEMBER 30, 1980 AND 1979 TABLE OF CONTENTS CONTINUED Page Tablej:, Number STATISTICAL TABLES (continued) 6 Ratio of Net General Bonded Debt to Assessed Value and Net
. Bonded Debt Per Capita 85 7 Computation of Direct and Overlapping Debt 86 8 Utility Funds - Schedule of Revenue Bond Coverage 87 9 $12,020,000 Refunding and Improvement Utilities Revenue Bonds Series 1977 - Debt Service Requirements to Maturity 88
- 10 General Debt Service Requirements to Maturity 89 11 Estimated Population - Corporate Limits, Utility District and County 90 12 Growth Indices 91 a
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cn ass c.stmicictamo COMMISSIONER-MANAGER FORM OF GOVERNMENT 24cic nocens, acy,no city uAnacen LEESBUR , ORI A 32748 February 23, 1981 Honorable Mayor and Members of the City Commission l
City of Leesburg Leesburg, Florida 32748 Ladies and Gentlemen:
In accordance with state statutes and local charter provisions, I hereby transmit the annual financial report of the City of Leesburg as of September 30, 1980 and for the fiscal year then ended. Responsibility for both the accuracy of the presented data and the completeness and fairness of the pre-l sentation, including all disclosures, rests with the City. Management be-
- lieves that the data, as presented, is accurate 'i all naterial aspects;
! that it is presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the City's financial affairs l have been included.
In developing and evaluating the City's accounting system, consideration i
is given to the adequacy of internal accounting controls. Internal accounting l
controls are discussed by the finance director in his accompanying letter of transmittal, and within that framework, I believe that the City's internal accounting controls provide a reasonable assurance of proper recording of financial transactions.
This report has been prepared following the guidelines recommended by the Municipal Finance Officers Association of the United Stated and Canada. The l Municipal Finance Officers Association awards Certificates of Conformance to those governments whose annual financial reports are judged to conform substan-tially with high standards of public financial reporting including generally accepted accounting principles promulgai.ed by the National Council on Govern-l mental Accounting. The City of Leesburg will apply for a Certificate of Con-formance for its annual financial repurt fcr 'iscal year 1980. It is my l
belief that the accompanying fiscal yea- MG financial report will meet I program standards when submitted te C- C oct;al Finance Officers Association for review. ,
In accordance with the above- entiond 7uidelines the accompanying report consists of three parts:
1
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Honorable Mayor and Members ofthe City Commission February 23, 1981 Page II
- 1) Introductory section, including the _ finance director's letter of transmittal
- 2) Financial section, including the financial s',atements and supplemental data of the government accompanied by our independent auditors' opinion
- 3) Statistical section, including a number of tables of unaudited data depicting the financial history of the government for the past 10 years, information on overlapping governments, and demographics and other miscellaneous information State law requires that the financial statements of the City of Leesburg be audited by a certified public accountant selected by the City Commission.
This requirement has been complied with, and our auditor's opinion is included in the financial section of this report. .
Although the City of Leesburg concluded fiscal year 1980 in a sound finan-cial condition there are several external areas of concern which may require special attention by the Mayor and Members of the City Commission during the present fiscal period.
The' City Commission should consider an increase in sanitation services fees in order to improve the financial condition of the Sanitation Services Fund. Lake County has increased its landfill fees and the substantial difference between the City and County rates may negatively impact the usable life of the City's landfill.
Due to the General Fund's dependence upon transfers from the combined utilities the City Commission is advised to set these Ltilities on an equal footing in relation to the transfers. This would stabilize the General Fund's financial base by reducing its dependence on electric and gas revenues.
Finally the City's tax rate compared to other Florida cities is markedly lower. There are substantial deferred maintenance costs that could be funded by a rate increase. Furthermore the City's shared revenues which are based on tax effort would increase proportionately.
The preparation of this annual financial report could not have been accomplished without the dedicated effort of the finance director and his entire staff. Their efforts over the past years toward upgrading the account-ing and financial reporting systems of the City of Leesburg have lead sub-stantially to the improved quality of the information being reported to the City Commission, state oversight boards, and the citizens of the City of Leesburg.
I Respec fully u ritted, JaLY G. ers Acting 'ty Manager JGR:Imd
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cwAn tas csin ic x tA mo COMMISSIONER MANAGER FORM OF GOVERNME.Vr acu noGens. ACTWG CITY MANAGER LEESBUR ORI A 32748 February 23, 1981 Honorable Mayor, Members of the
, City Commissioner and City Manager City of Leesburg Leesburg, Florida 32748 Ladies and Gentlemen:
The Comprehensive Annual Financial Report of the City of Leesburg, Florida, for the fiscal year ended September 30, 1980, is submitted herewith. Since the preparation of this report is the responsibility of the City's Finance Depart-ment, responsibility for both the accuracy of the presented data and the com-pleteness and fairness of the presentation, including all disclosures, rests with the City. We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the City as measured by the financial activity of its various funds; and that all disclosures necessary
) to enable the reader to gain the maximum understanding of the City's financial affairs have been included.
Accounting System and Budgetary Control In developing and evaluating the City's accounting system, consideration is given to the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding: (1) the safeguarding of assets against loss from unauthorized use or disposition; and (2) the reliability of financial records for preparing finan-cial statements and maintaining accountability for assets. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the evaluation of costs and benefits requires estimates and judgments by management.
l All internal control evaluations occur within the above framework. We believe that the City's internal accounting controls are sufficient to allow verification of the accounts and amounts presented in the Annual Financial Report.
Budgetary control is maintained at the subactivity level by the interim reporting system and certifications of funds prior to payment of vendor irt-voices or issuance of purchase orders. Open encumbrances are cancelled at the end of the fiscal year and must be provided for in the subsequent fiscal year's appropriations.
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Honorable Mayor, Members of the City Commission and City Manager Februrary 23, 1981 Page II This report includes all of the funds and account groups of the City. The City provides a full range of municipal services contemplated by statute or charter. This includes public safety (police - fire), highways and streets, sanitation, health and social services, culture-recreation, public improvements, p' ning and zoning, general administrative services, water, natural gas, electric ar wastewater treatment utilities.
General Governmental Functions Revenues and transfers for general governmental functions totaled $5,135,278 in 1980, an increase of 10.19 percent over 1979. General property taxes produced 10.63 percent of general revenues compared to 10.92 percent last year. The amount of revenues and transfers from various sources and the increase over last year are shown in the following tabulation:
Increase Percent (decrease)
Revenue Source _ Amount of total from 1979 Propertu 'taxes and penalties $ 545,845 10.63% $ 36,822 Licenses and permits 76,647 1.49 ( 131)
Intergovernmental revenues 1,485,492 28.92 41,059 Charges for services 122,714 2.39 30,078 Fines and forfeits 102,552 2.00 12,613 Other revenues 848,678 16.53 368,781 Transfers 1,953,350 38.04 ( 14,645_)
Total $5,135,278 100.00% $ 474,577 Assessed valuations for 1980 of $229.7 million represented an increase of 6.35 percent over the preceding year. The nominal increase in assessed valuation is a reflection of the apparent assessment practices of Lake County. Note on Statistical Table 4 that the 1981 data represents a 30.64% increase over 1980 due to reassessments.
Current tax collections were 99.0 percent of the tax levy, up 2.7 percent from last year. Delinquent tax collections were slightly more than last year.
The ratio of total collections (current and delinquent) to the current tax levy was 99.3 percent an increase of 2.9 percent from last year. All taxes are used for General Fund purposes.
Intergovernmental revenues represented 28.93 percent of total governmental revenues compared with 30.99 percent for the preceding year. The decline was primarily the result of a change in the City's grant revenues. The grant revenues will substantially decline in future years as the Community Development Block Grant nears completion.
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Honorable Mayor, Members of the City Commission and City Manager February 23, 1981 Page III Expenditures for general governmental purposes totaled $1,030,852 an increase of 0.97% over 1979. Increases in levels of expenditures for major functions of the City over the preceding year are shown in the. following tabulation:
Increase Percent (decrease)
Function Amount of total from 1979 General government $ 1,030,852 20.39% $ 9,927 Public safety 611,337 31 .88 180,437 Physical Environment 234,792 4.64 8 Transportation 293,335 5.80 13,464 Economic Environment 607,894 12.03 34,117 Human Services 175,347 3.47 58,228 Culture recreation 928,781 18.37 115,049 Other 127,236 2.52 63,941 Debt Service 45,254 0.90 ( 2,790)
Total $ 4,054,828 100.00% $_ 472,381 Unreserved fund balances and retained earnings in the major operating funds were maintained at adequate levels. The General Fund balance of $384,990 was up
$26,266 from last year; the Debt Service Funds balance of $111,855 was up
$7,259 from the preceding year, and the $5,325 balance in the Special Revenue Funds is an increase of $61,390 over the prior years.
Debt Administration The ratio of net bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators of the City's debt position to municipal management, citizens, and investors. The City has issued no general obligation bonds but has issued revenue certificates of which there is $340,000 in outstanding principal.
The City's utilities have outstanding revenue bond certificates of
$12,020,000 and revenue bond anticipation notes of $4,000,000 out of a total
$8,500,000 bond authorization.
The City's bonds continue to have the same ratings which they have carried for the past several years. These ratings are as follows:
Moody's Investors Standard Service & Poor Utilities Revenues Certificates Al A+
Cash Management Cash temporarily idle during the year was invested in demand deposits, in time deposits, in U.S. Treasury bills and Bonds, repurchase agreements and other U.S. obligations as shown on the Combined Schedule of Investments.
Honorable Mayor, Members of the City Commission and City Manager February 23, 1981' Page IV Capital Projects Funds Proceeds of general obligation bond and note issues are accounted for in Capital Projects Funds until improvement projects are completed. Completed pro-jects and uncompleted construction in progress at year end are capitalized in the General Fixed Assets Account Group. During 1980, projects costing
$127,236 were in process.
The Capital Project Fund balances on hand at September 30,1980, were represented by amounts due from other governmental agencies of $53,611.
General Fixed Assets The general fixed assets of the City are those fixed assets used in the performance of general governmental functions and exclude the fixed assets of Enterprise Funds. As of September 30, 1980 the general fixed assets of the City amounted to $6,486,859. This amount represents the original cost of the assets and is considerably less than their present value. Depreciation of 9eneral fixed assets is not recognized in the City's accounting system.
- City Utilities The City's electric, water, natural gas and wastewater treatment utilities (Combined Utilities) experienced a nominal net loss of $107,458 during the period ending September 30, 1980. This loss represents 0.6% of the total utilities operating revenue of $17,765,913. .The net income of the individual utilities for the period ending September 30, 1980 is as follows:
Electric Utility $(279,280)
Gas Utility (71,926)
Water Utility 100,809 Sanitary Sewer and Wastewater Treatment Utility 142,939 Total $ (107,458) g The City experienced a very substantial fluctuation 'in its wholesale power costs in the last quarter of the fiscal year causing the electric
! utility deficit. In addition the City owns 0.0844% of the' Crystal River Nuclear
- Generating Plant which was down for repairs during the same period. The plant has been repaired and continues to be operational.
i Sanitation Services Fund i
The City established this fund during the period ended September 30, 1980
, to account for the operations of its refuse collection and landfill. The enterprise experienced an operating loss of $68,224. Part of this loss, $37,099, is the result of recording depreciation expense on vehicles and equipment formerly recorded in General Fixed Assets.
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Honorable Mayor, Members of the City Commissioner and City Manager February 23, 1981 Page V Ambulance Service Fund The City also established this fund during the period ended September 30, 1980, to improve its accounting for the operations of the ambulance and rescue service provided under contract to the Northwest Hospital District of Lake County. The fund experienced a small net income of $14,835 which breaks from the pattern of net losses subsidized by the General Fund, as evidenced by the Fund's retained earnings (deficit) of $(70,580).
Independent Audit The City Charter requires an anaual audit of the books of account, financial records, and transactions of the City by independent certified public accountants selected by the City Commission. This requirement has been complied with and the auditor's opinion has been included in this report.
Certificate of Conformance The City's Finance Department will apply for a Certificate of Conformanca in Financial Reporting awarded by the Municipal Finance Officers Association of the United States and Canada (MFOA) for its comprehensive annual financial report for the fiscal year ended September 30, 1980.
In order to be awarded a Certificate of Conformance, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements.
A Certificate of Conformance is valid for a period of or,e year only. We believe our current report will conform to Certificate of Conformance Program requirements, and we are submitting it to MF0A to determine its eligibility for the certificate.
Acknowledgements The preparation of this report on a timely basis could not be accomplishe?
without the efficient and dedi ated services of the entire staff of the Finance Department. I would like to express my appreciation to all members of the Department who assisted and contributed to its preparation. I would also like to thank the mayor and city commissioners for their interest and support in planning and conducting the financial operations of the City in a responsible and progressive manner.
Respectfull subm*tted,
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amesC.Schudter City Clerk / Finance Director JCS:lmd
1 CITY OF LEESBURGc FLORIDA .
ORGANIZATION CHART CITY '
CO3I?flSSION Q
Q M CITY CITY CITY AT10RNEY ?!ANAGER CLERK Q
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RECEPTIONIST SECRETARY r
STATISTICIAN FINANCE PERSONNEL SIVITCllBOARD PURCilASIN's ENGINEERINC 4
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FIRE G PUBLIC REDEVELOP.
4 RESCUE POLICE WORKS LIBRARY RECREATION AGENCY WATER WASTEliATEll CO?D1 UNITY ELECTRIC 4 GAS TREAT? TENT PLANNING DEVELOPMENT INSPECTIONS
Brooks, Brown, Shumacker, Logan and Sullivan CERTiflED PUBLIC ACCOUNTANTS 215 North 3rd Street
- Leesburg. Florida 32748 Telephone (904) 787-8682 MEMBERS:
W. THOMAS BROOKS C.P.A.
B. ALLEN BROWN, [R., C.P.A.
Florida Institute of Certified Public Accountants J. CECIL sHuMACKER. lit, C.P.A.
Americtn institute of Certified Public Accountants DAVID C. LOGAN, C.P.A.
CYNTHIA L. SULLIVAN, C.P.A.
January 17, 1981 The Honorable City Commissioners City of Leesburg, Florida We have examined the combined financial statements of the City of Leesburg, Florida and its combining and individual fund financial statements as of and for the years ended September 30,1980 and 1979 as listed in the table of contents.
Except as noted below, our examinations were 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 cir-cumstances.
In our report dated January 30, 1980 cur opinion on the 1979 financial statements was qualified because the various utilities were reported within one enterprise fund and the financial position and changes in finucial position were not disclosed for each activity. In the current year each distinctly dif-ferent activity is reported within a separate enterprise fund and accordingly, our present. opinion on the 1979 financial statements as presented herein, is dif-ferent from that expressed in our previous report.
We are unable to express an opinion on the Community Development Block Grant Fund for the year ended September 30, 1980, because documents of the program were seized by the Federal Bureau of Investigation and were not available for examina-tion. As described in Note 5 the FBI is investigating alleged improprieties in the administration of the program.
In our opinion, except for the effects of such adjustments, if any, as might have been determined to be necessary had we been able to examine the source documents of the Comunity Development Block Grant Fund the combined financial statements referred to above present fairly the financial position of the City of Leesburg at September 30,1980 and 1979, and the results of its operations and the changes in financial position of its proprietary fund types and similar trust funds for the years then ended, in conformity with generally accepted accounting principles applied on a consistent basis after restatement for the change, with which we concur, in fund entity reporting as described in Note 1. Also, in our opinion (except for the Community Development Block Grant Fund), the combining and individual tJnd financial statements referred to above present fairly the financial position of the individual funds of the City of Leesburg, Florida, at September 30,1980 and 1979, their results of operations, and the changes in finan-cial position of individual proprietary funds for the years then ended in conformity with generally accepted accounting principles applied on a consistent basis after restatement for the change, with which we concur, in fund entity reporting as described in Note 1.
i i bY h Brooks, Brown, Shumacker, Logan & Sullivan Certified Public Accountants
COMBINED STATEMENTS - OVERVIEW
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CITY OF LEES 8 LOG, FLORIDA-COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS l SEPTEMBER 30,1980 AND 1979 - Exhibit I
.1 GOVERNMENTAL FUND TYPES PROPRIETARY FUND TYPES FIDUCIARY ACCOUNT GROUPS TOTAL FUND TYPES (Memorar.dum Onlyl SPECIAL DEBT CAPITAL INTERNAL PENSIO! GENERAL FIXED GENERAL LONG September 30. September 30, GEhERAL REVENUE SERVICE PROJECTS ENTERPRISE SERVICE TRUST ASSETS TERM DEBT 1980 1979
. Restated (Note 1)
ASSETS Cash $117,731 $ 78,387 $ 945 $ 429,577 $ 29,238 $ 655,878 $ 507,596 r
Investments at Cost or Amortized Cost, (Note 1) 4.133 1.304.200 2.283.274 3,591.607 2,051,063.
1-Receivables:
Customer Accounts
-(Note 1) 2.836,625 2.836,625- 2.572.285 Allowance for Doubtful Accounts (125,127) (125,127) (93.316)
Accrued Ieterest on Investments 23,887 50,313 74,200 77,597-Other Receivables 5,458 5,458 15,024 Prepaid Expense 10,659 i Du? From Other Funds 505.421 110,910 209,140$135,072 4,204 964.747 1,340,466 Dut Frcm Other Governments j (Note 5) 53,384 131,242 $ 53,611 22.447 260,684 -768,830 1 Supplies Inventory at Cost j (Note 1) 9.084 576,266 585,350 466,050
. Restricted Assets: (Note 2)
? Cash with Fiscal Agents (Note 1) 587,422 587,422 571,617 Cash 842,017 842,017 722.331 i investments, at Cost or Amortized Cost (Note 1) 5,158.060 5,158,060 2,127,873 j Receivables, (Note 5) 249.468 249,468 630,812
)
Property (and 1)
Cost. Note Equipment, At 24,264,107 27,379 24,291,486 '23,410.825 Grneral Fixed Assets, 1
(Note 1) $ 6,486,859 6.486,859 6,697,573 Accumulated Depreciation, (Note 1) (6,818,537) (13.258) (6.831,795)- (6,225.636) l Constructhn in Progress (Note 5) 8,956,351- 8,956,351 3,475.261 Interfund Advances Receiv-able, (Note 1) 1,909,168 1,909,168 3.147,830 l Detarred Issue Cost, Net, 247,944 247,944 212,888 (Note 1)
, Amount Available in Debt
! Service Fund -$111,855 111,855 104,5 %
j Amount to be Provided For Ratirement of General 486,663 Long Term Debt 452,251 452,251-Total Assets $691,078 $213,762 $111,855_ 1 53,611 ;$402 673,015 $149,193 $2,367,029 $ 6,486,859 $564,106 $51,310,508 $43,078.837 i
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t Liabilities and Fund Equity Liab111tte5:
Accounts Payable $ 91,448 $ 5.698 $ 17,782 $ 4,428,393 $ 27,885 $ 1,423 $ 4,572,629 $ 3.120.540 Accrued Liabilities 149,327 9.095 167,675 326,097 261.488-Custoiner Advances for
[ Construction 137.483 -137,483 -117.316 l Due to Other Funds 65,313 193.644 35,829 532.271 121,247 16,443 % 4,747 1.340,466 Payable from Restricted Assets:
Customer Deposits 519,G11 519,811 432,945 Accrued Interest On Revenue Bonds 'C3.616 355,616- 354,890~
General Bonds Payable $340,000 340,000 370,000 Other General Notes Payable -224,106 224.106 221,259 Revenue Bonds Payable.
(Note 3) 12.020,000' 12.020,000 i Unamortized Disem nt (214.493) 12[020,000-, 214.493)- (224,856) l Interfund Advances ayable, 1,909,168
( (Note 1) 1,909.168 3.147.830 1980 Bond Anticipation Notes, (Note 3) 4,000,000' 4,000,000
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$306.088 $208,437 $ 53,611 $23,855.924 $149,132 17,866 $564,106 $25,155,164 $21,161,878 l 7 Total Liabilities Fund Equity:
Contributed Capital.
(Note 1) 8.770,343 15,979 8,786,322. ~ 4,803,112-Investment in General Fixed Assets $'6.486,859 6,486,859 6,697.573.
Retained Earnings:
Reserved 2,123,094 2,123,094' 3,264,798 Unreserved 5.923,654 5,923.654 4,925,641 Fund Balances (Deficit):
Reserved 9.084 $111,855 3.944.105. 4.065,044- '.2,511,587-Unreserved 375,906 5,325 - (15,918) [1,594,942)' (1,229,629) (285.702)
Total Fund Equity (Deficit) 384,990 5,325 111,855 3 817,091 61 2,349,029 6,486,859' 26,155,344 21,917,009-Total Liabilities and ,
Fund Equity $691,078 $213,762 $111,855 $ 53,611 $40,673,015 1149,193 $2,367,029 $ 6,486.859 $564,106_ 151,310,508 5 $43,078,8,R' l
l See Accompanying Notet E
l CITY OF LEESBURG, FLORIDA COMBINED STATEMENT OF REVENUES, EXPERDITURES, AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Exhibit ?
GOVERNMENTAL FUND TYPES TOTALS SPECIAL DEBT CAPITAL ~ SEPTEM8:R 30 GENERAL REVENUE SERVICE PROJECTS 1980 1979 Restated (Note l')
l REVENUES:
l Taxes S 545,845 5 545,845 $ 509.023-Licenses and Permits 76.647 76,647 76,778 l
Inter 90vernmental Revenue (Note 5) 40,704 $ 764,929 5 53,611 859,244 826,269 Shared Revenue 626,248 626,245 618,164 Charges for Services 122,714 122,714 92,636 Fines and forfeitures 102,552 102,552 89.939 Miscellaneous, (Note 1) 835,588 _
5,552 $ 7,538 848,678 479.650 2,350,298 770,481 7,538 53,611 3.181,928 2,692,459 EXPENDITURES:
General Government, (Note 1) 1,029,789 1.063 1.030.852 1,020,925 Public Safety 1,611,337 1,611,337 1.430,900 Physical Environment 234,792 234,792 234,784 Transportation 293,335 293,335 279,871 Economic Environment 66,651 541.243 607,894 573,777 Human Services 19,850 155,497 175,347 117.119 Culture / Recreation 917,493 11,288 928,781 813,732 Ccpital Projects 127,236 127,236 63,295
., DEBT SERVICE:
l u Principal. Reti rement 30,000 30,000 32,000
, Interest and Fiscal Charges 15,254 15,254 16.044 4,173,247 709a91 45,254 127,236 5,054,828 4.582,447 EXCESS (DEFICIENCY) 0F REVENUES OVER EXPENDITURES (1,822,949) 61.390 (37,716) (73,625) (1,872,900) (1,889,988)
Other Financing Sources (Uses):
Bank Rote Proceeds, (Note 3) 72,250 72,250 Operating Transfers in (Note 1) 1,907.000 44.975 1,375 1,953,350 1,967.995 Operating Transfers Out (61,495) (61,495) (52,128) 1,845,505 0 44,975 73,E25 1,964,105 1,915,867 EXCESS (DEFICIENCY) 0F REVENUES AND OTHER SOURCES OVER EXPENDITURES AND OTHER USES 22,556 61,390 7,259 91,205 25.879 l Fund Balance (Deficit) - Beginning of Year 358,624 (56,065) 104.596 407,155- 589,252 Increase in Reserve for Inventory 3,810 3,810 Adjustments (Note 12) (207,976)
Fund Balance - End of Year $ 384,9's0 $ 5,375 $111,855 $ l_502,170 $ 407,155 See Accompanying Notes
. _ _ . _ _m - - _ -__ . -, _ __ _ . . . . . ..
CITY OF LEESBURG, FLORIDA -
C0FBINED STATEMENT OF REVENUES, EXPENDITURES. AMD CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL, SPECIAL REVENUE,,AND CAPITAL PROJECTS FUND TYPES YEAR ENDED SEPTEMBER 3 0. 1980 Exhibit 3 GENERAL FUND SPECIAL REVENUE FUND TYPES CAPITAL PROJECTS FUND TYPES VARIANCE VARIANCE VARIAMCC BUDGETED FAVORABLE BUDGETED FAVORA8LE BUDGETED FAVORABLE (REVISED) ACTUAL (UNFAVORA3tE) (REVISED) ACTUAL (UNFAVCRABLE) (REVISED) ACTUAL (UNFAVORARfF) l REVENUES:
, Taxes $ 543,000 $ 545,845 $ 2,845 Licenses and permits 74,550 76,647 2,097 Intergovernmental Revenues,(Note 5) 52.940 40,704 (12.236) $762,493 $764,929 $ 2,436 $147,870 $ 53,611 $(94,259)
Shared revenues 630,300 626,248 ( 4,052)
Charges for services 122,350 122,714 364 Fines and forfeitures 117,300 102,552 (14,748)
Miscellaneous (Note 1) 843,800 835.588 (8,212) 5.552 5.552 -
2,384,240 2,350,298 (33,942) 762,493 770,481 7.988 147,870 53.611- (94,259)
EXPENDITURES:
General Government, (Note 1) 1,178,735 1,029,789 148,946 1,500 1,063 437 Public safety 1,631,560 1.611.337 20,223 Physical environment 216,550 234,792 (18,242) j Transportation 300.170 293,335 6.835 Economic environment 69,380 66,651 2,729 505,520 541,243 ( 33,723)
, Human services 20,560 19,250 710 180,410 155,497 24,913 Culture / Recreation 827,845 917,493 (89,648) 8,500 11,288 ( 2,788)
Capital projects 224.220 127.236 96,984 4,244.800 4,173.247 71.553 695.930 709.091 ( 13.161) 224.220 127,236 - 96,984
, EXCESS (DEFICIENCY) 0F REVENUES j .
OVER EXPENDITURES (1.860,560)(1,822,949) 37,611 66.563 61 390 ( 5.173) ( 76,350) ( 73.625) '2.725 1~
OthIr Financing Sources (Uses):
Bank note proceeds, (Note 3) 72,550 .72,250- ( 300)
Operating transfers in 2,290,600 1,907,000 3,800 1,375 (2,425)
Operating transfers out ( 205.060) ( 61.495) ( 383,600) 143,565 I
2.085.540 1.845.505 ( 240.035) 76,350 73.625 (2,725)
EXCESS (DEFICIENCY) 0F REVENUES AND t
OTHER SOURCES OVER EXPENDITURES AND OTHER USES 224.980 22,556 ( 202,424) 66,563 61,390' ( 5.173) . -0 .
Fund Balance at Beginning of year 358,624 358,624 ( 56,065) -( 56,065) -0 . ' 0-Increase in reserve for inventory ,
3.810 3.810 -
i FUND BALANCE AT END OF YEAR $ 583.604 $- 384.990 $ ( ten sta) ' $ 10.498 $ 5.325 $( 5.173) $ -0J $' $ l 4
__ . - _ - . - . _ . _ . . . _ . .m,. . . . , -
CITY OF LEES 8URG FLORIDA COMBINED STATEMENT OF REVENUES. EXPENSES AND CHANCES IN RETAINED EARNINGS / FUND BALANCES - ALL PROPRIETARY FUND TYPES li AND SIMILAR TRUST FUNDS
- YEARS ENDED SEPTEM8ER 30.1980 AND 1979 Exhibit 4 FIDUCIARY FUND TOTALS PROPRIETARY FUND TYPES TYPES MEMORANDUM ONLY)
INTERVAL PEN 3T0N ~ YEA WDTD 5ERTMBIR 30 ENTERPRISE SERVICE TRUST ;980 1979-Restated (Note 1) l OPERATING REVENUES:
Charges for Services.(Note 3) $18.412.45r 5 307.984 !!8.720.441 $14.235.023 Contract Revenue.(Note 6) 208.520 208.520 188.497.
> Interest $ 188.106 188.106 104.647 Contributions . 405.714 405.714 358.298 10,620.977~ 307.984 593.820 19.522.781: 14.936.465 OPERATING EXPENSE:
Operatin9 and Maintenance 15.743.606 320.873 16.064.479 11.716,623 r Deprecia tion ,634,501 3.029 687.530 760.684 BInefit Payments 39.721 39.721 11.937 Rafunds 10.766 10.766 6.332 1 Administrative Expenses 12.900 12.900 4.325 16.428,107 32 M g2 63.387 16.815.396 ' 12.499.901-OPERATING INCOME (Loss) 2.192.870 (15.918) 530.433 2.707.385 2.436.564 NON-OPERATINGREVENUES(Expenses):
- iterest Earnings 281.256 281.256 308.834
- Interest Expense (740.573' (740.573) (733.721) 4 Other income and Expense 12.150 123150l 1
(447.167 (447.167) (42a,887).
INCOME BEFORE OPERATING TRANSFERS 1.745.703 (15.910) 530.433- 2.260.218 2.011.677 OPERATING TRANSFERS IN (OUT)~ _.,( 1.907.000) (1,90 M 00) (1.915.867)
.l _
( NET INCOME (LOSS) (161.297) -(15.918) 530.433 353.218 95.810 4 RETAINED EARNINGS / FUND BALANCES AT BEGINNING OF YEAR 8.190.439 1.818.730 10.009.169 9.975.074 Adjustments (Notes 1 and 12) 17.606 17.606 - (61.715)
RETAINED EARNINGS / FUND BALANCES AT END OF YEAR $ 8.046.748 ;$ (15.913) 12 M 163 $10.379.993 $10 & l69 i
< See Accompanying Notes t
CITY Of LEESBURG, FLORIDA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSIT 0N -
'ALL PROPRIETARY FUND TYPES AND SIMILAR TRUST FUNDS YEARS ENDr0 SEPTEMBER 30, 1980 AND 1979 Exhibit 5 FIDUCIARY FUND TOTALS PROPRIETARY FUND TYPES TYPES .(MEMORANDUM ONLY)
ENTERPRISE INTERNAL PDifl0N YEARS ENTED SEPTiHBER 30 FUNDS *ERVICE TRUST 1980 1979'
- Sources of Working Capital
l Operations:
Net income (Loss) $ (161,297) $ (15,918) $ 530,433 Items not Req'atring the Use of $ 353,218 $ 95.810 Working Capital Depreciation and Amortization 791,358 3.029 794,387 780,859, j Working Capital Provided by (Used In)
Operations 630.061 (12,889) 530,433 1,147,605. 876,669 0: crease in Restricted Assets 737,359 787,359 669,589 Decrease in Interfund Advances Receivable 1.238,662 1,238,662 nit Increase in Current Liabilities Payable From Restricted Assets 89,121
! Contributed Capital 3,984,837 89.121
' .15,979 4,000,316 2,751,814 1980 Bond Anticipation Notes 4,000,000 Book Value of Property and Equipment 4,000,000 Disposals 36,83')
Book Value of Property and Equipment 36,830 Reclassifications 25,967 25,%7 -
Adjustment to Carrying Value of Assets.
(Note 12)
-(76,809)
,, Total Sources of Working Capital 10.792.837 3.090 530.433 _4,221,263
'11.326.360 Usts of Workina Capital:
nit Increase in Restricted Assets 3.573.222 3,573,222 Acquisition of Property and Equipment 856,693 17,150 .873,843 974,832 Increase in Nuclear fuel 211,702 211,702 177,184 Increase in Construction in Progress 5,481,090 5,481,090 2,976,515 Increase in Deferred Issue Costs 44,867- 44,867 Net Decrease in Current Liabilities Payable From Restricted Assets 360,202 Decrease in Interfund Advances Payable 1,238,662 1.238,662-Bo:k Value of Property and Equipment i Reclassification 25,967 25,967 Total Uses of Working Capital 11.432.2g3 17,150 11,449,353- 4,488.733 l Nat increase (Decrease) in Working l Capital (See Schedule on Following Page) $(639.366) $ (14,060) $ 530.433 5'(122,993) $ (267,470) i.
l l
t
! See Accompanying Notes l
_w CITY OF LEESBURG, FLCR!DA COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION-ALL PROPRIETARY FUND TYPES AND SIMILAR' TRUST FUNDS YEARS ENDED SEPTEMBER 30,1980 AND 1979 Exhibit 5 FIDUCIARY FUND TOTALS -
PROPRIETARY FUND TYPES TYPES .(MEMORANDUM ONLY)
ENTERPRISE INTERNAL PENSION YEARS ENDED SEPTEMBER 30 FUNDS SERVICE TRUST __,
1930 1979-Elements of Net Increase (Decrease) In Working Capital:
Cash .$ 184,196 $ (50,027) $-134,169 $ (54,167)
Investments 1,113,359 581,430 1,694,789 1,228,062 Customer Accounts.(Net) 231.603 -231,603 852,541
- Due From Other Governments (602,607) (602.607) 606,428 Accrued Interest on Investments ( 21,244) -21.219- '( 178,253
- 25) 65,073 (39,846)"
' Inventory 178,253
'Due From Other Funds (300,702) $ 135,072 '(13.096) (178,726) ~ (16,923)
Due From Group Annuity Contract Carrier '(704.499)
Accounts Payable (1,4'6,849) 2 (27,885) -( 1,423) (1,456,157). (1,775.783) as
, Accrued Expenses (126,852)
(126,852) ( 1,552)
Customer Advances for Construction ( 20.167) ( 20.167) -(17,661)
Due From Other Funds 151,644 -(121,247) ( 7,670). 22,727 (409,143)
Net Increase (Decrease) In Working Capital $ (639,366) $( 14.060) $_530,433 $(122,993) 5 (267,470)-
See Accompanying Notes
CITY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1980 NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of the City of Leesburg, Florida conform to generally accepted accounting principles for governmental entities. The following is a sumary of significant accounting policies.
Fund Accounting The accounting system and financial reporting of the City is organ-ized and operated on a fund basis. A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations.
Fund and Account Group Categories The categories of funds and account groups of the City are suma-rized as follows:
(1) Governmental Type Funds are those through which most government functions typically are financed. The acquisition, use, and balances of expendable financial resources and the related current liabilities (except those accounted for in proprietary funds) are accounted for through governmental type funds. Governmental funds used by the City are as follows:
General Fund - to account for all financial resources which are not required to be accounted for in another fund.
Federal Revenue Sharing Fund, Comunity Development Block Grant Fund, and Housing Assistance Progran Fund These funds are Special Revenue Funds which account for the proceeds of specific revenue sources (other than special assessments, expend-able trusts, or for major capital projects) that are legally restricted to expenditure for specified purposes.
Debt Service Fund - The debt service fund was created to account for the payment of principal and interest on long term general obligations.
Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds, Special Assessment Funds and Trust Funds)
CITY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
(Fund and Account G'roup Categories) - (Proprietary Funds)
(2) Proprietary Funds are used to account for a government's ongoing activities which are similar to those found in the private sector.
Generally accepted accounting principles in these type funds are aoplicable to similar business in the private sector where the measurement focus is on determination of net income, financial position and changes in financial position. Proprietary funds of the City are as follows:
Electric Utility Fund Gas Utility Fund
~
Water Utility Fund Sanitary Sewer and Wastewater Treatment Fund Sanitation Services Fund Ambulance Fund Motor Pool Service Fund (3) Fiduciary funds are used to account for assets held in a trustee capacity for others. The City's fiduciary funds are as follows:
Municipal Police Officers' Retirement Trust Fund Municipal Firemen's Retirement Plan Retirement Plan for General Employees (4) Account Groups record and control the government's general fixed assets and general long term debt. The account groups are not funds and do not reflect available financial resources and related liabilities. The following account groups are maintained by the City:
General Fixed Assets - to account for property and equipment not used in proprietary fund operations or accounted for in Trust Funds.
l General Long Term Debt - to account for unmatured principal of long i term general obligation indebtedness that is not a specific liability of a Proprietary or Fiduciary Fund.
Basis of Accounting Governmental Fund revenues and expenditures are recognized on the modified accrual basis. This method recognizes revenues in the account-ing period in which they become available and measurable. Expenditures are recognized in the period in which the fund liability is incurred .
(except unmatured interest on general long term debt which is recognized when due).
Governmental Fund Type revenues that are susceptible to accrual include the reimbursements for authorized expenditures as of September 30 under the provisions of grant agreements and the City's share of Federal and State revenues for the period ending September 30.
The City had no current property taxes receivable as of September 30 and delinquent property taxes were immaterial.
- . . - - ._~ - . - - - - _ - -
CITY OF LEESBURG, FLORIDA NOTE $ TO FINANCIAL STATEMENTS.
NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
(Basis of Accounting)
Proprietary Fund revenues and expenses are recognized on the accrual basis. . Revenues of the enterprise funds are recognized on the basis of services rendered. Billing cycles of the utility funds which overlap:
September 30 are pro-rated based upon meter reading dates. Total un-billed revenues for the combined utility funds amounted to $1,154,182 at September 30, 1980.
Fiduciary Funds of the City are all nonexpendable Pension Trust funds and are accounted for on the accrual basis.
Transfers are recognized in the accounting period in which the inter-fund receivable and payable arise. Transfers are made from the electric and gas utility funds to finance operations of the General Fund. Operat-ing transfers are accrued (not to exceed budgeted transfers) to provide a balanced General Fund budget.
Interfund Advances - The electric and gas utility funds have provided advances to the water and sanitary sewer and wastewater treatment funds.
These advances are included in other assets and other liabilities of the respective funds.
Grants-Proprietary Funds - Unrestricted grants, entitlements or shared revenues received are reported as non-operating revenues. Such resources externally restricted for capital acquisitions or construction are reported as contributed capital. Operating expenses include depreciation on all depreciable fixed assets. Depreciation recognized on ambulance vehicles (Ambulance Fund) acquired by Emergency Medical Services grants is closed to the appropriate contributed capital account (Note 12).
Investments are comprised of savings deposits, certificates of deposit, U.S. government obligations, U.S. government agency obligations, revolving notes and long term corporate bonds. Investments are stated at cost and premium or discount is amortized to maturity.
Amortization of issue cost and discount related to the.1977 Revenue Bonds is computed by the " Bonds Outstanding" method which is not materially different from the interest method.
Depreciation (Proprietary Funds) is computed by the straight-line method over the estimated useful lives of the assets as follows:
Utility Funds:
Buildings 50 years Improvements other than buildings 36 to 100 years Machinery and Equipment 5 to 20 years Nuclear Fuel 3 years Sanitation Services Fund:
Equipment 7 to 10 years Vehicles 7 years
CITY OF LEESBURG, FLORIDA NOTES TO FINAliClAL STATEMENTS NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTI G POLICIES (Continued)
(Basis of Accounting)
Ambulance Fund:
Buildings 40 years Equipment 4 to 10 years Vehicles 6 years Motor Pool Service Fund Equipment 3 to 10 years Vehicles 6 years General Fixed Assets purchased are recorded as expenditures in the Governmental Fund Types at the time of purchase. Such assets are capital-ized at cost in the General Fixed Assets group of accounts. The City's policy is not.to report public domain fixed assets such as streets, right-of-ways, sidewalks, drainage systems and similar assets. The beginning balance of General Fixed Assets as of October 1,1978 was reduced
$1,391,166 in order to adopt this policy. General Fixed Assets include the City's cost of assets of Leesburg General Hospital. Depreciation is not provided on General Fixed Assets.
Inventories held by the Utility Funds are priced by the weighted average cost method. Inventory shown in the General Fund consists of expendable supplies and Police Department gasoline held for consumption.
The amount thereof has been recorded for information purposes only as an asset, offset by a reserve in an equal amount.
Cash with Fiscal Agents - Utilities revenue certificates maturing on October 1 each year togetner with interest payments then due are paid to the City's paying agent prior to that date. The aforementioned pay-ment is recorded as an asset as of the balance sheet date and subse-quently as a reduction of utilities revenue certificates and/or accrued interest payable within the fiscal year of maturity.
The Sanitation Services Fund (an enterprise fund) was created in the current year to account for refuse and garbage collection and landfill operations. Such operations are substantially financed through user charges. In prior years these activities were included within the General Fund. This change to a preferable accounting policy is in accordanc2 with the National Council on Governmental Accounting (NCGA)
Statement.1 Governmental Accounting and Financial Reporting Principles.
Prior yecr comparative amounts have been restated to reflect the change.
(See Note 12).
Reimbursements to General Fund for Administrative Services - Included in general gcvernment expenditures within the General Fund are certain ad--
ministrative costs of operating the various enterprises and operations of the City. Such costs include accounting, collections, data processing, customer service, purchesing, personnel, statistician, and warehouse. A cost allocation plan has n7t been developed to charge all programs with a pro-rata share of the overhead. However, a substantial po" tion of the overhead is allocable to the utility enterprise funds. City management CITY OF LEESBURG, FLORIDA' NOTES TO FINANCIAL STATEMENTS-NOTE 1
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
(Basis of Accounting).
has estimated'and charged $773,756-to the utility enterprise funds for overhead expenses incurred by the General Fund for the year' ended September 30, 1980. The reimbursements are recognized as miscellaneous.
revenue within the General Fund and as an' operating expense in the various utility fundi. . The costs are allocated based upon time studies' of functions performed for each utility.
NOTE 2 Bond Service Requirements / Restricted Assets As of September 30, 1980 bond service requirements are current. The i following is a summary of the restricted assets related to the Refunding and Capital Improvement Utilities Revenue Bonds, Series 1977.;
Revenue Bond Debt Service In accordance with tenns of the bond resolution the City deposits cash' monthly into a separate account to fund upcoming principal and interest-payments on the bonds. Such cash and investments are reflected in the financial statements as restricted assets.
t Revenue Bond Reserve
, In addition to debt service deposit requirements the bond resolution requires a reserve account to be used only to pay principal and interest in the event the monies in the sinking fund are insufficient therefor.
Monthly deposits into the Reserve Account are to be made until the amount on deposit equals the maximum amount of principal and. interest becoming due in any ensuing fiscal year ($927,284). The total monthly deposit requirement is $2,553 and the balances as of September 30, 1980 amounted to $884,635.
1 Renewal and Replacement The City must make monthly deposits to a separate account which is restricted for paying the costs of extensions, enlargements or additions to, or replacement of capital assets and emergency repairs thereto.
The deposit requirement-is 1/12 of 5% of the prior years gross revenues.
(including fuel adjustment) after deducting the cost of purchased energy.
There is no deposit requirement if the amount on deposit equals an amount. i
- recommended by the consulting engineer. The total monthly deposit re-quirement is currently $21,757.
1977 Bond Proceeds The proceeds of the bond issue have been segregated and are restricted solely to payment of acquisition and construction costs of the capital improvement project (wastewater treatment facility).
The following have been restricted to indicate the City's tentative plans
- for financial resource utilization in a future period (designations)
Depreciation Fund The Depreciation Fund was created to provide funds for replacing property and equipment. The deposit amount is equal to budgeted depreciation expense.
CITY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 2 BOND SERVICE REQUIREMENTS / RESTRICTED ASSETS (Continued)
Potable Water Fund The Potable Water Fund was created-to provide funds for--the cost of providing water sources. The monthly contribution amount is $1,000.
Customer deposits have been restricted to indicate that the amount is not available for the financing of current utility operations.
NOTE 3 Notes and Bonds Payable i The following is a summary of all notes and bonds payable of.the various
, -funds and general long term debt:
l Utility Funds:
Refunding and Capital Improvement Utilities Revenue Bonds, Series 1977 -
512,020,000 The 1977 Bonds are coupon bonds in denominations of $5,000 each and are collateralized by a pledge of net revenues of the utilities system and income on certain investments. Bond maturity and interest rates are as follows:
i SERIAL BONDS Year of Year of Maturity Amount Rate Maturity Amount Rate 4
^
1993 $ 620,000 5.60% 1999 $ 860,000 5.90%
! 1994 660,000 5.70 2000 890,000 5.90 1995 700,000 5.75 2001 175,000 6.00
! 1996 735,000 5.80 2002 185,000 6.00 1997 780,000 5.85 2003 200,000 6.00 1998 810,000 5.90 2004 210,000 6.00 56,825,000 TERM BONDS
$5,195,000 6.00% Bonds due October 1, 2005
$8,500,000 Public Utility Revenue Bonds
- Anticipation Notes, Series 1980 On April 14, 1980 the City Commission authorized issuance of $8,500,000
. in Public Utility Revenue Bonds which are expected to be issued by 1985, On September 25, 1980, $4,000,000 in notes e re issued in anticipation of and payable upon sale of the bonds. The notes were issued to finance the cost of improvements and expansion of the electric system, including
- additional substations and load management, and upgrading of the water system.
The notes are collateralized by net revenues derived from the combined electric, gas, water and sewer system of the City and investment income
! on certain investments. The lien of the note holders is junior and subor-l dinate to the lien of the holders of $12,020,000 Refunding and Capital Improvement Utilities Revenue Bonds, Series 1977.
r
CITY OF-LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 3 NOTES AND BONDS PAYABLE (Continued)
(58,500,000 Public Utility Revenue Bonds Anticipation Notes, Series 1980)
Interest is payable semiannually on March 1 and September 1 as follows:
Amount of Note Interest Rate
$ 500,000 7.780%
$ 3,500,000 8.125%
GENERAL LONG TERM DEBT:
PUBLIC IMPROVEMENT REVENUE CERTIFICATES These certificates are collateralized by cigarette tax revenues. The maturity dates and interest rates of the certificates are as follows:
Maturity Interest Maturity .
Interest-Date Amount Rate Date Amount Rate 1/1/81 $ 30,000 4.0% 1/1/86 $ 40,000 4.2%
1/1/82 35,000 4.1 -1/1/87 40,000 4.2 1/1/83 35,000 4.1 1/1/88 40,000 4.2 1/1/84 35,000 4.1 1/1/89 45,000 4.2-1/1/85 40,000 4.1 TOTAL 5340,000
- iL
. Amount Due Amount Due
. Within One After One Year Year Total Hospital Equipmed Note Note Payable, unsecured, due in monthly installments of $5,870 including interest at 6.5%. The installments are paid directly by the independent association which operates the City owned hospital. $ 63,341 $ 74,565 $137,906 Other Equipment Note Note Payable, unsecured, due in monthly installments of $2,247 including interest at 7.5% 23,006 40,194 .63,200 Real Estate Notes Payable These notes are collateralized by reel estate (recorded in General Fixed Assets) and mature $1,000 annually with interest at 4% 1,000 22,000 23,000 3 87,347 5 136,759 5224,106
,- y ~,% y , - - --,,.-.---~r , .e.,- , e, , -
i.--9 +- e e,,w-..- --p- p--.- .- -+. - -. + - -
CITY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 4 Crystal River Unit 33 Participation Agreement The City is a participant in an agreement with Floricta Power Corporation which was entered into on July 31, 1975. Under terms of the agreement the City acquired a 0.8244% ownership interest and generation entitlement share in the nuclear steam electric generating unit. Participants are entitled to energy output of the unit based upon their respective genera-tion entitlement share.
Florida Power Corporation has been appointed by the participants to act as their agent and have sole authority to manage, control, maintain and operate the unit. Operating costs of the unit, in general, are shared in proportion to each generation entitlement share on a monthly basis.
Conraon and external facilities of the generating unit are solely owned by Florida Power Corporation and participants share in the operation and maintenance expenses of such facilities. Nuclear fuel payments are required of participants in advance.
The participation agreement provides for reversion of the ownership interest of the unit to Florida Power Corporation upon retirement from service. The depreciated cost of the investment included in Utility Plant in Service amounts to $4,092,391 as of September 30, 1980.
NOTE 5 . Grants Environmental Protection Agency 201 Facilities Grant (Sanitary Sewer and Wastewater Treatment Fund)
The City received a federal grant under the provisions of the Federal Water Pollution Control Act Amendments of 1972 and the Clean Water Act of 1977. The grant is in the amount of $6,771,679 and represents 75%
of the total cost of Part III of the City's ongoing sewage disposal improvements. The City has agreements with developers to fund 9.08%
of the non-federal share of the total Part III costs. The local share of these costs assumed by the City are funded from restricted assets (1977 Bond Proceeds).
Economic Development Administration - Local Public Works 3 rants (1979 Capital Projects Funds)
Project grants received from the Economic Development Administration, U.S. Department of Commerce, are as follows:
Costs Reported Grant Amount to EDA Recreation Complex $ $ 267,820 $ $ 208,220 Cultural Dispaly Facility 159,180 218,866 5 427,000 $ 427,086 Construction of the projects was completed in 1979 and the grants have been audited in accordance wiP the grant agreement. The costs reported to EDA do not include the cost of City labor which was perfomed on the Recreation Complex (a non-reimbursable cost). Questioned costs l
of $59,686 were indicated in the audit report as a result of funding the Cultural Display Facility cost overrun from the Recreation Complex Grant without obtaining a formally approved project amendment as CITY OF LEESBURG, FLORIDA N0"ES TO FINANCIAL STATEMENTS NOTE 5 GRANTS (Continued)
Economic Development Administration - Local Public Works Grants) required by the grant agreement. The final determination as to whether the questioned costs are allowable under terms of the grant agreement will be made by the EDA, In the opinion of City management the questioned costs will not result in a liability of the City to the EDA.
Department of Housing and Urban Development (HUD)
Community Cevelopment Block Grants:
The following is a sunnary of Cornunity Development Block Grants received by the City:
Program Year 1978 $557,000 Program Year 1979 $439,000 Program Year 198C $438,000 The Cocrunity Development Prograa is funded in advance by the City and subsequently reimursed by HUD. As of September 30, 1930 approximately
$87,000 of Program year 1980 funds have been expended and $114,234 is due from HUD under tems of the grant agreement.
The financial records of the Cornunity Development Block Grant Fund have been seized by the Federal Bureau of Investigation who are conducting an investigation .'nto alleged improprieties in the administration of the program. In connection with this investigation auditors from the Depart-ment of Housing and Urban Development are reviewing financial records for compliance with tems of the grant agreement. The liability cf the City, if any, for non-compliance with terms of the grant agreement is unknown.
The accompanying financial statements do not reflect a provision for ques-tioned or disallowed costs which could be disclosed.
Section 8 Housing Assistance Payments Program:
The City administers an 80 unit housing assistance program under a'five year annual contributions contract with HUD. The maximum annual expendi-tures allowed under the contract is $163,830. The five year contract expires September 30, 1984. The program has been audited in accordance with HUD requirements through September 30, 1980.
Airport Imorovement Grant On July 29, 1980, the City of Leesburg was awarded a grant from the Federal Aviation Administration for improvements to be made to the Leesburg Municipal Airport. The improvements consist of reconstruction, marking and lighting of Runway 13-31; construction of runway safety area; construction of a segmented circle; and installation of radio lighting controls at a total cost of approximately $623,333. The FAA grant will finance 90% of the total cost or approximately 5561,000.
The City has signed agreements with the Florida Department of Transpor-tation and the Lake County Board of Commissioners whereby the State will finance 5% of the project cost and the County will provide $27,500.
The City will fund the balance from general revenues. The expected completion date is March 1981. Total costs through September 30, 1980 included in General Fixed Assets Construction in Progress amounts to
$54,986.
NOTC 6 Ambulance Contract The City operates an ambulance service under a contract with Lake County. The service is accounted for in an enterprise fund since CfTY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 6 AMBULANCE CONTRACT (Continued) user charges and contract revenue substantially finance the operation.
Certain common expenses are allocated between the fire department and ambulance service u ?:1 basis. Certain administrative expenses such as accounting, data poucessing and collections are paid by the General Fund (Note 1).
NOTE 7 Contingencies The City has received various grants which are subject to review and audit to determine compliance with stipulations of the grant agreements.
Any disallowed costs disclosed by such audits could result in claims for reimbursement by the grantor agency. In the opinion of the City management any such claims for reimbursement would be immaterial amounts.
NOTE 8 Accumulated Unpaid Vacation and Sick pay Benefit Amounts Employees accumulate up to a maximum of twenty days vacation pay based upon length of service. Vacation entitlements do not accumulate and carry fomard into subsequent years. Full-time employees earn two hours of sick leave credit per week upon completion of ninety days employment. The maximum accumulation of sick leave is ninety days.
The City's accounting policy is to recognize vacation and sick pay expense as it is paid to the employee. Under Statement of Financial Accounting Standards Number 43 Accounting for Compensated Absences the City will be required to accrue a liability for employees compensation for future absences under certain conditions (Proprietary Funds only). The state-ment becomes effective for fiscal years beginning after December 15, i 1980. City Management intends to adopt the new accounting policy for the fiscal year ended September 30, 1981.
NOTE 9 Litigation Settlement A lawsuit against the City by a group of black citizens alleging racial discrimination in the use of Federal Revenue Sharing Funds has been settled. The settlement provides that the City will undertake certain improvements in the Black comunity over the next several years. The improvements are to be financed from Community Development Block Grant funds and/or Federal Revenue Sharing (75% of Federal Revenue Sharing Funds are pledged over a 61/2 year period and will be used if Community Development Block Grant funds are not sufficient). General Revenue funds will not be used to finance the improvements and the City is released from any future obligation once the work is performed or the funds are exhausted.
The plaintiff was awarded attorney fees and costs of $76,902 and this amount has been recorded as a liability in the Federal Revenue Sharing Fund as of September 30, 1979.
NOTE 10 Leases The City leases data processing equipment under a three year operating lease. The following is a schedule by years of future minimum rental payments required under the lease:
Years ending September 30:
1981 $ 25,292 1982 10,308
,a CITY OF LEESBURG, FLORIDA -
NOTES TO FINANCIAL STATERENTS
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NOTE 11 Advance Debt Refunding- .
The City issued 512,020,000 principal amount of Refunding and Capital Improvement Utilities Revenue Bonds, Series 1977, dated April 1,1978, under the provisions of a Resolution adopted by the City on February 2, 1978. Simultaneously, the City-issued $4,880,000 in Special Obligation
, Bonds, Series 1977A._The bonds were issued to refund the existing
$9,738,000 (the "old debt") and to provide funds for capital-improvements.
A Securities Purchase Agreement was entered into with the Bank of Clear-water and $14,345,600 was deposited in trust and invested in U.S..
Treasury obligations.- The fold debt" and the Special Obligation' Bonds are serviced from the trust fund and the $12,020,000 issue of revenue
-bonds is serviced by the City (Note 2).
The refunding is a defeasance (legal satisfaction of debt under terms of a defeasance provision) and in accordance with the American Institute of Certified Public Accountants Statement of Position 78-5 the "old debt" and Special Obligation Bonds are not reflected as a liability in the accompanying financial statements.
NOTE 12 Fund Balance / Retained Earnings Adjustments - _
General Fund - The following amounts are net assets of operations which were previously reported within the General Fund and have been transferred-to separate enterprise funds: 4 i
Ambulance Fund $ ( 13,758)
Sanitation Services Fund (194,218)
$ (207,976)-
- Proprietary Fund Types and Similar Trust Funds The following is a summary of-retained earnings adjustments
9/30/80 9/30/79 Depreciation on EMS grant vehicles which reduces contributed capital (Ambulance Fund) (Note 1) $ 17,606 $ 15,094 Reduction in carrying value of Investments realized upon termina-tion of prior group annuity retire-
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ment plan:
Municipal Firemen's Retirement Plan (19,179) 4 Retirement Plan for General Employees ( 57,630) l $ 17,606 $( 61,715)
CITY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 13 Pension Plans TFe Cit'y has established three defined benefit pension plans for employees. The following brief description of the plans is pre-sented for information only. Participants should refer to plan agreements and/or Florida Statute 185 (available at City Hall) for more complete information. The plans are not subject to the Employee Retirement Income Security Act of 1974 (ERISA).
(1) Eligibility The Municipal Police Officers' Retirement Trust Fund covers policemen who have completed one year of employment and attained eighteen years of age. The Municipal Firemen's Retirement Plan covers firemen who have completed one year of employment and attained eighteen years of age. The Retirement Plan for General Employees covers employees (other than firemen) who have completed one year of employment and attained eighteen years of age.
(2) Plan Description The plans have differing provisions for pension, death and disability benefits. For information regarding these pro-visions participants should refer to plan agreements, Florida Statue 185 and recent actuarial valuations (the most recentvaluationcompletedisasofOctober1,1979).
(3) Funding Policy Funicipal Police Officers' Retirement Trust Fund Funding of the Police pension fund is provided from policemen contributions (5% of their annual compensation) and a 1%
excise tax. The tax is levied on gross premiums coilected on casualty insurance policies covering property within the cor-porate limits of the City. The State collects and contrib# es the tax to the Fund under Florida Statute 185. The City does not contribute to the fund since policemen contributions and excise tax monies are sufficient to fund the plan. As of October 1,1979 the frozen initial liability has been com-pletely funded. Policemen accumulated contributions at September 30, 1980 were $76,144.
Municipal Firemens' Retirement Plan Firemen contribute 5% of their annual compensation to the plan.
A 1% excise tax on fire insurance premiums sold within the cor-porate limits is remitted to the fund by the State of Florida.
The City accrues and contributes an additional amount as deter-mined by an actuary to fund annual normal cost and prior service cost amortized over forty years. The required City contribution for the year ended September 30, 1980 amounted to $64,958 (13.1%
of covered payroll) which has been adequately funded. This amount is recorded as revenue in the pension fund and an expense in the General Fund and Ambulance Fund. Firemen accumulated con-tributior: at September 30, 1980 were $93,491.
CITY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENT NOTE 13 Pension Plans (Continued)
Retiremeyt Ple for General Employees The General Employees Plan is non-contributory. The City accrues and contributes an amount as determined by an actuary to Tund annual normal cost and prior service cost amortized over forty years. The required City contribution fr- the year ended September 30, 1980 amounted to $236,155 (iv.3% of covered payroll) which has been adequately funded.
This amount is recorded as revenue in the pension fund and an expense in the various governmental and proprietary funds.
(4) Actuarial Information Accumulated plan benefits are those future periodic payments that are attributable under the Plan's provisions to the service employees have rendered. Benefits payable under all circumstances (retirement, death, disability, and tennination of employment) are included to the extent they are deemed attributable to employee service rendered to the valuation date.
The present value of accumulatad plan benefits is determined by cn rc,tuary and is the amount that results from applying actuarial assumptions to adjust the accumulated plan ~ benefits to reflect the time value of money and the probability of payment between the valuation date and the expected date of payment.' The following is a sunmary of actuarial information for each plan as of October 1, 1979:
Present Value Unfunded of Accumulated Accrued Plan Benefits Liability Municipal Police Officers' Rctirement Trust Fund $ 155,402 $ Municipal Firemens' Retir: ment Plan 445,728 570,305 Retirement Plan for Gcaeral Enployees 7aS,81 1,212,414 Significant actuarial assumptions used in the valuation are summarized as follows:
Municipal Police Officers' Retirement Trust Fund -
(a) Life Expectancy of Participants - The 1965 Projected Annuity Mortality Table (as developed and named by The Wyatt Company) was used.
(b) Retirement Age Assumption - The assumed average retirement age was 65.
(c) Investment Return - an assumed rate of 6% compounded annually was used.
(d) Salary Increase Factor - Current salary was assumed to increase at a rate of 4% per year until retirement.
CITY OF LEESBURG, FLORIDA NOTES TO FINANCIAL STATEMENTS NOTE 13 Pension Plans (Continued)
Municipal Firemens' Retirement Plan (a) Life Expectancy of Participants - The GA 1951 Male Mortality projected to 1965 by Scale C with a five year setback for females was used.
(b) Retirement Age Assumption - attainment of age 55 and completion of ten years of credited service.
(c) Investment Return - an assumed rate of 6% compounded annually was used.
(d) Salary Increase Factor - Current ycar salary was assumed to increase at a rate of 4% per year until retirement.
Retirement Plan for General Employees (a) Life expectancy of Participants - The 1965 Projected Annuity Mortality Table (as developed and named by The Wyatt Company) was used.
(b) Retirement Age Assumption - The assumed average retirement age was 65.
(c) Investment Return - An assumed rate of 6% compounded annually was used.
(d) Salary Increase Factor - Current year salary was assumed to increase at a rate of 4% per year until )
retirement.
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l GENERAL FUND i
The General Fund accounts for all revenues and expendi-4 tures of the City which are not accounted for in other i funds. It receives a greater variety and number of-
- taxes and other general revenues than any other fund.
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1 CITY OF LEESBURG, FLORIDA GENERAL FUND BALANCE SHEET SEPTEMBER 30,1980 AND 1979 Statement A-1 September 30 1980 1979 Restated (Note 1)
ASSETS Cash $ 117,731 $ 80,751 Due From Other Governments 53,384 35,103 Other Accounts Receivable (Net of Allowance for Doubtful Accounts of $1,079 and $1,197) 5,458 14,098 Due from Other Funds 505,421 876,087 Supplies Inventory 9,084 5,274 Total Assets $ 691,078 $ 1,011,313 LIABILITIES AND FUND BALANCE Liabilities:
Accounts Payable $ 91,448 $ 83,846 Accrued Wages and Payroll Tax 126,088 53,615 Employee Insurance Premium Rebate 16,309 30,706 Due to Other Governments 847 Due to Other Funds 65,313 451,068 Deposits 6,083 5,858 Unearned License Revenue 27,596 Total Liabilities 306,088 652,689 i
Fund Balance:
Reserved:
For Inventory 9,084 5,274 Unreserved 375,906 353,350 Total Fund Balance 384,990 358,624 Total Liabilities and Fund Balance $ 691,078 $ 1,011,313 See Accompanying Notes
CITY OF LEESBURG, FLORIDA-1 GENERAL FUND STATEMENT..0F.. REVENUES AND OTHER FINANCING USES, BUDGETED AND ACTUAL FOR THE FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statamant A-2 1980 1979
, VARIANCE VARIANCE BUDGETED FAVORABLE BUDGETED FAVORABLE (REVISED) ACTUAL (UNFAVORABLE) (REVISED) ACTUAL (UNFAVORABLE)
TAXES:
Ad Valorem $ 516,000 $ 514,582 ${ 1,418) $ 467,100 $ 475,803 $ 8,703 Franchise Fees 27,000 31,263 4,263 31,500 33,220 1,720
- Total 543,066 545,845 2,845 498,600 509,023 10,47.
LICENSES AND PERMITS:
Professional and Occupational 41,500 40,232 ( 1,268) 43,500 38,684 4,816)
Building Permits (
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33,050 36,415 3,365 36,300 38,094- 1,794 Total 74,550 76,647 2,097 79,800 76,778 ( 3,022)
INTERGOVERNMENTAL REVENUE:
LEAA (Federal Portion) 34,200 10,303 ( 23,897)
Urban Development Action Grants 5,822 5,822 LEAA (State Portion) 16,720 16,720 1,900 2,520 620 State Transportation Grant 20,000 19,749 251 16,425 ( 16,425)
., Meals on Wheels 4,220 4,212 8 4,416 4,212
( 204) m FRDAP 12,000 23 11,977 18,200 25 477 7,277 N
Total 52,940 40,704 12,236) 75,141 4 ,c,34 ( 26,807)
SHARED REVENUES:
I Two-Cent Cigarette Tax (Note 3) 75,000 73,218 ( 1,782) 73,000 73,616 616 1 State Revenue Sharin9 403,700 410,110 6,410 397,092 408,001 10,909 Mobile Home Licenses 21,000 15,104 ( 5,896) 17,000 19,479 2,479 Alcoholic Beverage License 11,000 10,137 ( 863) 16,000 9,225 ( 6,775) local Government Additional i Homestead Exemption 28,800 28,741 ( 59) 13,000 24,708 11'708
( Rebate on Mun1cipal Vehicles (Sc) 8,000 6,794 ( 1,206) 8,400 7,744 Municipality Share of Road and ( 656)
Mu 1 Share of County
, , 9 0,M 57,693 ( '2,307) j Occupational Licenses _ 20,100 18,651 ( 1,449) 28,000 17,698 ( 10,302) 2 Total 630,300 626,248 ( 4,052) 612,492 618,164 5,672 .
. . ~ _. _.
CITY OF LEESBURG, FLORIDA GENERAL FUND .
STATEMENT OF REVENUES AND OiHER FINANCING USES, BUDGETED AND ACTUAL FOR THE FISCAL YEARS ENDED SEPTEMBER 30,1980 AND 1979 1980 '
1979 VARIANCE VARAINCE BUDGETED FAVORABLE BUDGETED FAVORABLE (REVISED) ACTUAL (UNFAVORABLE) (REVISED) ACTUAL (UNFAVORABLE) t CHARGES FOR SERVICES:
Gen ral Government Charges 3,750 4,534 784 6,250 5,298 ( 952)
Police Services 7,100 4,505 ( 2,595) 2,700 3,560 860 Room and Board for Prisoners 35,000 24,924 ( 10,076) .11,000 18,432 7,432 Other Public Safety Charges 500 891 391 1,500 364- ( 1,136)
Police Dispatch Fees 4,000 4,500 500 l Fira Protection Services 200 ( 200)
! Oth:r Physical Environment Charges 11,100 11,928 828 3,500 5,022 1,522 Housing .
11,361 11,361 Economic Environment Charges 200 700 500 _
Libraries 4,000 4,036 36 2,800 2,787 ( 13)
Program Activities Fees 30,000 39,413 9.413 20,000 24,479 4,479
! Swimming Pools 6,500 6,728 228 7,000 .6.180 ( 820)
Other Recreation Fees 6,000 5,227 (- 773) 3,000 7,069 4,069 Marina Charges 6,000 7,339 1,339 Community Building 8,000 7,989_ ( 1_11 8,700 8,084 ( 616)
Total 122,350- 122,714 364 66,450 92,636 26,186 FINES AND FORFEITURES:
' Court Fines 70,000 64,445 ( 5,555) 75,000 58,597 ( 16,403) l Police Education 2,300 ( '2,300) 2,200 2,243 43
! Library Fines 5,000 5,401 401 3,000 3,935 935 Oth r Fines and Forfeitures 25,000 25,164 Total 40,000 117,300 32,706 102,552 ,(7,
(
7 294 105,200 89,939 (
164 15,261)
i-MISCELLANE0US REVENUES:
Interest, including Profit 1,765) 3,000 5,329 2,329
-on Investments 10,000 8,235 (
Rents and Percentages 3,800 3,450 ( 350) 3,500 3,550 50 9,700_ 10,915 1,215 9,500 9,497 ( 3)
Airport Rental 5,000 8,063 3,063 Sale of Furniture and Fixtures 600 589 ( 11)
Sale of Tax Delinquent Land 500 ( 500) 2,500 ( 2,500)
Sale of Surplus Materials 2,500 21,020 18,520 1,038 1,038 Contributions-Private Sources 68,700 1,163 ( 67,537) 3,610 3,61 0 Other Income 1,000 3,584 2,584 1,000 5,217 4,217 Insurance Compensation 3,000 2,782 ( 21 8) 2,000 2,904 904 Insurance Rebates 10,094 10,094 11,000 49,538 38,538 Reimbursement from Utility Funds for ~. Administrative 744,000 773,756 29,756 383,008- 383,009 1 l Services (Note 1) 420,508 471,755 51,247 Total 843,800 835,588 ( 8,21 2)
Total Revenues $'2,384,240 $2,350,298 $( 33,942) $1,858,191 $1,906,629 $ 48,438 OTHER FINANCING SOURCES:
Operating Transfers In:
Electric Utility Department $1,780,000 $1,377,425 $( 402,575) $ 1,540,486 -$ 1,493,817 $( 46,669)
Gas Utility Department 510,600 529,575 18,975 473,150 422,050 ( 51,100)
Total Other Financing Sources 2,290,600 1,907,000 $( 383,600) 2,013,636 1,915,867 _,( 97,769)
Total Revenues and Other l Financing Sources $4,674,840 $4,257,298 $( 417,542) $ 3,871,827 $ 3,822,496' $( 49,331)
O See Accompanying Notes (Concluded) 2_ of 2 l
CITY OF LEESBURG, FLORIDA GENERAL FUND STATEMENT OF EXPENDITURES AND OTHER FINANCING USES BUDGETED AND ACTUAL FOR THE FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement A-3 1980 1979 VARIANCE VARIANCE BUDGETED FAVORABLE BUDGETED FAVORABLE (REVISED) ACTUAL (UNFAVORABLE) (REVISED) ACTUAL (UNFAVORABLE Expenditures:
General Government Services $ 1,178,735 $ 1,029,789 $ 148,946 $ 1,021,099 $ 94'.,751 $ 79,348 Public Safety 1,631,560 1,611,337 20,223 1,392,154 1,416,709 ( 24,555 Physical Environment 216,550 234,792 ( 18,242) 205,260 193,882 11,378 Transportation 300,170 293,335 6,835 263,565 242,952 20,613 Economic Environment 69,380 66,651 2,729 9,535 8,620 -915 Human Services 20,560 19,850 710 20,457 20,769 ( 312
, Culture and Recreation 827,845 917,493 ( 89,648) 794,228 799,203 ( 4,975 rotal Expenditures 4,244,800 4,173,247 71,553 3,706,298 3,623,886 82,412
' Other Financing Uses:
Operating Transfers Out:
Debt Service 116,650 60,120 56,530 46,475 47,875 1,400 EDA Capital Projects Fund 2,981 2,981 Airport Capital Projects Fund 3,800 1,375 2,425 e
Community Development Fund 1,272 ( 1,272 Ambulance Fund 6,400 6,400 4
Motor Pool Fund 17,900 17,900 Sanitation Services Fund 60,310 60,310
, Total Operating Transfers 205,060 61,495 143,565 46,475 52,128 ( 5,657 Total Other Financing Uses- 205,060 61,495 143,565 46,475 52,128 ( 5,653 Total Expenditures and Other i
Financing Uses $ 4,449,860 $ 4,234,742 $ 215,118 $ 3,752,773 $3,676,014 $ 76,759 See Accompanying Notes
CITY OF LEESBURG, FLORIDA GENERAL FUND STATEMENT OF CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1980 AND 1979 Statement A-4 RESERVED UNRESERVED TOTAL Fund Balances, September 30,1978 (asoriginallyreported) $ 27,243 $ 392,875 $ '420,118 Revenues (restated - Note 1) 1,906,629 1,906,629 Expenditures (restated - Note 1) (3,623,886) (3,623,886)
Other Financing Sources and Uses (Note 1) 1,863,739 1,863,739 Decrease in Reserve for Group Insurance Premium Increases (21,724) 21,724 Decrease in Reserve for Inventory ( 245) 245 l
Reclassification of Ambulance Fund to a separate enterprise fund (Note 8) ( 13,758) ( 13,758)
Reclassification of Refuse and Garbage operation to a separate enterprise fund (Sanitation Services Fund) (Note 1) ( 194,2181 ( 194,218)
Fund Balances, September 30, 1979 5,274 353,350 358,624 Revenues 2,350,298 2,350,298 Expenditures (4,173,247) (4,173,247).
Other Financing Sources and Uses (Note 1) 1,845,505 1,845,505 Increase in Reserve fcr Inventory 3,810 .3,810 Fund Balances, September 30, 1980 $ 9,084 $ 375,906 $ 384,990 J
See Accompanying Notes 4
2TY OF LEESBURG, FLORIDA C0rtBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS
- WPTEMBER 30, 1980 AND 1979 Statement B-1 FEDERAL REVENUE COMMUNITY HOUSING TOTALS SHARING DEVELOPMENT ASSISTANCE SEPTEMBER 30 FUND FUND FUND 1980 1979 ASSETS Cash $ 49,560 $ 3,200 $ 25,627 $ 78,387 5 101,555 Investments, at Cost 4,133 4,133 57,154 Fedsral Revenue Sharing Receivable 17,008 17,008 14,906 Due from HUD 114,234 114,234 93,767 Prepaid Housing Assistance Payments 10,659 Restricted Cash - Loan Disbursement 1,529
, Total Assets $ 70,701 $ 117,434- $ 25,627 $ 213,762 $ 279,570 5 LIABILITIES AND FUND BALANCE Liabilities:
Accrued Litigation -Settlement (Note 9) $ 76,902 Accounts Payable $ 5,312 $ 386 $ 5,698 35,150 Due.to Other Funds $ 68,470 112,122 13,052 193,644 196,066 Housing Assistance Payments 9,095 9,095 25,988 Escrow Account Loan Disbursement 1,529 Total Liabilities 68,470 117,434 22,533 208,437 335,635 Fund Balances (Deficit) 2,231 3,094 5,325 '( 56,065)
- Total Liabilities and Fund Balance $ 70,701 $ 117,434 $ -25,627 $ 213,762 $ 279,570 See Accompanying Notes
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CITY OF LEESBURG, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement B-2 FEDERAL REVENUE COMMUNITY HOUSING TOTALS
'iHARING DEVELOPMENT ASSISTANCE SEPTEMBER 30 FUND FUND FUND 1980 1979 Revenue:
Intergovernmental Revenue $ 71,908 $ 538,083 $ 154,938 $ 764,929 $ 717,621 Miscellaneous Revenue 979 3,160 1,413 5,552 2,957 Total Revenue 72,887 541,243 156,351 770,481 720,578 Expenditures:
Current:
General Government Services 1 ,063 1,063. 79,174 Transportation 31,000 Economic Environment 511,131 511,131 556,553 Human Services 2,240 152,348 154,588 96,350
, Culture / Recreation 138 138
. Total Current Expenditures 3,441 511,131 152,348 666,920 763,077 n,
so Capital Outlay:
' Public Safety 14,191 Physical Environment -40,902 Transportation .
5,919 Economic Environment 30,112 30,112 8,604 Human Services 909 909 Culture / Recreation 11,150 11,150 14,529 Total Capital Outlay 11,150 30,112 909 42,171 84,145 Excess of Revenues Over (Under) Expenditures 58,296 - 3,094 '1,390 6 (126,644).
Other Financing Sources:
Operating Transfers In (Out) 1,272 Fund Balances (Deficit), October 1 ( 56,065)' ( 56,065) 69,307:
FundBalances(Deficit) September 30 $__, 2,231 $ $ 3,094 $ 5,325 $( 56,065)
See Accompanj'rs Notes
CITY OF LEESBURG, FLORIDA 4 STATEMENT OF REVENUES AND EXPENDITURES AND CHANGES IN FUND BALNCE - BUDGETED AND ACTUAL FEDERAL REVENUE SHARING FUND FOR FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement B-3 1980 VARIANCE BUDGETED FAVORABLE 1979 (REVISED)- ACTUAL - (UNFAVORABLE) ACTUAL
(
REVENUES:
Intergovernmental Revenue:
. Federal Revenue Sharing $ 73,343 $ 71,908 $( 1,435) $ 59,624 Miscellaneous Revenue:
Interest Earned 979 979 2,957 -
Total Revenue 73,343 72,887 ( 456) 62,581 i EXPENDITURES:
Current:
General Government Services Financial and Administrative 1,500 1,063 437 2,272 Litigation Settlement (Note 9) 76,902 Total General Government Services 1,500 1,063 437 79,174
. Transportation:
Road an'd Street Facilities 31,000 Human Services:
Welfare 2,240 2,240 2,238 Culture / Recreation:
Facilities 138 ( 138)
Total Currer,t Expenditures 3,740 3,441 299 112,412 Capital Outlay:
Public Safety:
Fire Control 14,191 Physical Environment:
l Utility Services . 31 ,012 Garbage Services 9,890 Total Physical Environment _
40,902
. Transportation:
l Road and Street Facilities ~
5,919 Culture / Recreation:
Facili ties 8,500 11,150 ( 2,650) 14,529 l
Total Capital Outlay 8,500 11,150 ( 2,650) 75,541 Total Expenditures 12,240 14,591 ( 2,351) 187,953 EXCESS (DEFICIT) 0F REVENUES OVER .
i EXPENDITURES 61,103 58,296 ( 2,807) (125,372)'
FUND BALANCE, OCTOBER 1, 1979 ( 56,065) (56,065) 69,307 FUND BALANCE, SEPTEMBER 30, 1960 $ 5,038- $ 2,231 $( 2,807) 3( 56,065) l
. - . - o See Accompanying-Notes CITY OF LEESBURG, FLORIDA STATEMENT OF REVENUES AND EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGETED AND ACTUAL COMMUNITY DEVELOPMENT FUND FOR FISCAL YEARS ENDED SEPTEMBER 30,1980 AND M79 Statement B-4 1980 VARIANCE BUDGETED FAVORABLE 1979 (REVISED) ACTUAL (UNFAVORABLE) ACTUAL REVENt*2S:
Intergovernmental Revenue:
HUD Grant $ 505,520 $ 521,165 $ 15,64E $ 513,135 312 Rehabilitiation Loans 18,561 18,561 23,539 Community Development Loan 1,517 1 ,517 28,483 Total Revenue 505,520 541,243 35,723 565,157 EXPENDITURES:
Current Expenditures:
Economic Environment:
Housing and Urban Development:
Personal Services 72,270 71,516 754 29,813 Operating Expenditures 405,330 439,615 ( 34,285) 526,740 Total Current Expenditures 477,600 511,131 ( 33,531) 556,553 Capital Outlay:
Economic Environment:
housing and Urban Development:
Capital Outlay 27,920 30,112 ( 2,192) 8,604 Total Expenditures 505,520 541,243 ( 35,723) 565,157 EXCESSOFREVENUEOVER(UNDER)
EXPENDITURES FUND BALANCE, OCTOBER 1, 1979 FUND BALANCE, SEPTEMBER 30, 1980 $ $ $_ $ Sca Accompanying Notes
CITY OF LEESBURG, FLORIDA STATEMENT OF REVENUE, EXPENDITURES, AND I CHANGES IN FUND BALANCE - BUDGETED AND ACTUAL HOUSING ASSISTANCE FUND FOR FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement B-5 1980 VARIANCE BUDGETED FAVORABLE 1979 (REVISED) ACTUAL (UNFAVORABLE) ACTUAL REVENUE: I Intergovernmental Revenue:
HUD Contributions $ 183,630 $154,938 $( 28,692) $ 92,840 Miscellaneous Revenue:
Interest Earned 1,100 1,413 313 Total Revenue 184,730 156,351 ( 28,379) 92,840 EXPENDITURES:
Current Expenditures:
Human Resources:
Welfare: f Personal Services 9,000 13,852 ( 4,852) 17,611 Operating Expenses 168,220 138,496 29,724 76,501 {
Total Current Expenditures 177,220 152,348 24,872 94,112 Capital Outlay:
Human Resources 950 909 41 Total Expenditures 178,170 153,257 24,913 94,112
' EXCESS OF REVENUE OVER(UNDER) EXPENDITURES 6,560 3,094 ( 3,466) ( 1,272)
Other Financing Sources:
Operating Transfers in 1,272 FUND BALANCE OCTOBER 1, 1979 _
FUND BALANCE (DEFICIT) SEPTEMBER 30, 1980 $ 6,560 $ 3,094 $( 3,466) $ -
l See Accompanying Notes DEBT SERVICE FUND The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, general long term debt principal and interest.
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- S epteinber 30 -
1980- 1979 ASSETS Cash $ 945 Investments '$ 101,224 Accrued Interest 3,372 Due from other Funds 110,910 Total Assets S -111,855 $ 104,596 FUND BALANCE Fund Balance (Reserved for Debt Service) $ 111,855 $ 104,596 i
See Accompanying Notes CITY OF LEESBURG, FLORIDI STATEMENT OF REVENUES, TRANSFERS, EXPENDITURES, AND1 FUND BALANCE:
. . DEBT SERVICE FUND FOR THE-FISCAL YEAR ENDED SEPTEMBER 30,-1980 AND 1979 Statamnt c September 30 1980 1979 Revenues: -
Interest on Investmen'ts '7,538
~
$ $ 4,938' Transfers:
Transfers from General Fund 44,975~ 47,875 Total Revenues and Transfers 52,513 52,813 Expenditures:
Retirement of Public Improvement Revenue Certificates 30,000 32,000 Interest 14,675 15,875 Miscellaneous 579 169 Total Expenditures 45,254 48,044 Excess (Deficit) of Revenues and Transfers over Expenditures 7,259 4,769-Fund Balance, October 1 104,596 99,827-
\
Fund Balance September 30 5 111,855 $ 104,596 See Accompanying Notes
CAPITAL PROJECTS FUNDS Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds,-Special AssessmentFundsandTrustFunds).
AIRPORT IMPROVEMENT PROJECT - to account for the costs of
- construction of Runway 13-31, runway safety areas, and a segmented circle. The estimated cost of $623,333 is being financed by a Federal Grant ($561,000), State Grant ($31,167), County Grant
($27,500) and the balance by General Fund Revenues ($15,583).= The expected date of completion is March 1981.
PUBLIC WORKS EQUIPMENT PURCHASES - to account for the purchase and financing of equipment for the Public Works Department. Purchases were completed in August,1980. Financing was provided by proceeds from a bank note.
I CITY 0F LEESBURG. FLORIDA CAPITAL' PROJECTS FUND BALANCE SHEET SEPTEMBER 30, 1980 Statment D-1 AIRPORT PUBLIC WORKS-IMPROVEMENT EQUIPMENT ~
PROJECT PURCHASES
- ASSETS Due From Federal Government. .$ 49,487 Due From State 2,749 Due From County 1,375 Total Assets 5 53,611 LIABILITIES AND FUND BALANCE LIABILITIES:
Accounts Payable $ 17,782 Due to General Fund 35,829 Total Liabilities 53,611 Fund Balance Total Liabilities and Fund Balance 3 53,611 i
- Authorized Project Completed and Fund Closed Out.
See Accompanying Notes s
CITY OF LEESBURG, FLORIDA STATEMENT OF REVENUES, TRANSFERS, EXPENDITURES, AND CHANGES IN FUND BALANCE CAPITAL PROJECTS FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1980 AND 1979 Statement D-2 AIRPORT PUBLIC WORKS TOTALS IMPROVEMENT EQUIPMENT SEPTEMBER 30 PROJECT PURCHASES 1980 1979 Revenues:
Economic Development Administration Grant Reimbursements $ 60,314 Federal Aviation Administration Grant Reimbursements $ 49,487 $ 49,847 Florida Department of Transportation Grant Reimbursements 2,749 2,749 Lake County Grant Reimbursement 1,375 1,375 Total Revenues 53,611 g 53,611 60,314
. Expenditures:
w Construction Contracts 17,525 17,525 63,295
- Engineering and Other 37,461 37,461
' Equipment Purchases 72,250 72,250 Total Expenditures 54,986 72,250 127,236' 63,295 Excess of Revenues Over (Under) Expenditures ( 1,375) ( 72,250) ( 73,625) ( 2,981)
Other Financing Sources:
Operating Transfers from General Fund 1,375 1,375 2,98i Bank Note Proceeds 72,250 72,250 l Total Other Financing Sources 1,375 72,250 73,625 2,981 !
l Excess of Revenues and Other Financing i Sources Over (Under) Expenditures Fund Balance, Beginning of Year Fund Balance, End of Year $ $ $ $- !
See Accompanying Notes d
_____..u', - - - _ _ ..--_.: ----.:.:::: 4- f. .. ... .q.m
CITY OF LESBURG. FLORIDA AIRPORT IMPROVEMENT CAPITAL PROJECTS FUND STATEMENT OF REVENUES, TRANSFERS. EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL )
FOR THE FISCAL YEAR ENDED SEPTEM ER 30, 1980 Statement D-3 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE)
REVENUES:
Federal Aviation Administration Grant Reimbursec*nts $ 136,500 ..$ 49,487 $(87,013)
Florida Department of Transportation Grant Reimbursements 7,580 2,749 (4,831)
Lake County Grant Reimbursement 3,790 1,375 ( 2,415J Total Revenues 147,870 53,611 (94.259)
EXPENDITURES:
Construction Contracts 109,400 17,525 91,875 Engineering and Other 42,270 37,461 4,809 Tota 1 Expenditures 151,670 54,986 96,684 ExcessofRevenuesOver(Under)
Expenditures ( 3,800) ( 1,375) 2,425-Other Financing Sources:
Operating Transfers from Gneral Fund 3,800 1,375 ( 2,4251 Excess of Revenues and Other Financing Sources over Expenditures - Fund Balance at Beginning of Year Fund Balance at End of Year $ $ $ See Accompanying Notes -
t 1
l CITY OF LESBURG, FLORIDA PUBLIC WORKS EQUIPMENT PURCHASES CAPITAL PROJECTS FUND STATEMENT OF REVENUES, TRANSFERS EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1980 Statement D-4 VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) ,
REVENUES $ $ $
EXPENDITURES:
Equipment Purchases 72,550 72,250 300 Excess of Revenues Over (Under)
Expenditures ( 72,550) ( 72,250) ( 300)
Other Financing Sources Bank Note Proceeds 72,550 72,250 ( 300)
Excess of Revenues and Other Financing Sources Over Expenditures Fund Balance at Beginning of Year Fund Balance e.t End of Year $ $ $ See Accompanying Notes 3-4*
CITY OF LEESBURG, FLORIDA CAPITAL PROJECTS FUNDS PROJECT - LENGTH SCHEDULE OF CONSTRUCTION PROJECTS BEGINNING OF PROJECTS TO SEPTEMBER 30, 1980 S_tatement D-5 frport Improvement Project TOTAL PROJECT AUTHORIZA110N $ 623,333 Revenues and Other Financing Sources:
Intergovernmental $ 53,611 Oper,ating Transfers-In 1,375
$ 54,986 Expenditures:
Construction Costs $ 17,525 Engineering and Other 37,461
$ 54,986
\
See Accompanying Notes J
{
r ENTERPRISE FUNDS Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business body is thatenterprises - where the the costs (expenses, including intent depreciation of the governing) of providing goods or services to the general public on a con-tinuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, account-ability, or other purposes. Certain administrative expenses are paid by the General Fund. Administrative expenses incurred by the General Fund related to Utility Funds are reimbursed (Note 1).
k i
CITY OF LEESBURG, FLORIDA COMBINING BALANCE SHEETS ALL ENTERPRISE FUNDS SEPTEMBER 30,1980 AND* 1979 Statenent E-1 OTHER ENTERPRISE FUNDS SANITARY SEVER AND ELECTRIC GAS WATER WASTEWATER COMBINED- SANITATION Totals UTILITY UTILITY UTILITY TREATMENT UTILITY SERVICES AMBULANCE September 30 FUND FUND FUND FUND FUND FUND FUND 1980 1979 RESTATED
-(NOTE 1)
ASSETS Current Assets:
Cash $ 429,577 5 $ $ $ 429,577 $ $ $ 429,577 .$ 246,025 j Investments, at amortized cost 1.304.200 1,304,200 1,304.200 190.841 (Note 1)
RIceivables:
Customer Accounts (Note 1) 2.516,624 99,341 68,866 88,023 2,772,854 29.368 34,403 2.836,625, 2.573,211 Allowance for Unco 11ectable Accounts ( 90,228) ( 3,131) ( 1,992) ( 2,372) ( 97,723) ( 5,654) (21,750) ( 125,127) ( 93,316)
Due From Other Governments 22.447 22.447 22.447 625,054 (Note 5) 23,887 45,131 Es Accrued Interest on Investments 23,887 73,887 e Inventory (Note 1) 422,451 37,969 114,777 1,069 376,266 576,266 460,776 Due from Other Funds 77,922 77,922 75,813 55,405 209.140 447,079 Total Current Assets 4.706.B86- 134,179 181,651 86,720 5,109,430 99.527 68,058 5,277,015 4.494,801 RIstricted Assets (Note 2):
Ravenue Bond Debt Service Cash With Fiscal Agents 225,247 51,925 94.989 215,261 587,422 587.422. 571,617 Cash 6,302 6,302 '6,302 11,874 Investments 416,792 13,073 429,865 429,865 205,366 R: venue Bond Reserve Cash 1,004 1,004 - 1,004 148,177 Investments 559,324 56,174 82,094 186,039 883,631 883.631 705,818
' Renewal and Replacement Cash' 694 694 694 694 Investments 488 29,942 8,735 8,760-_ 47,425 47,425 223,856 31,956,343 51,867,402 Restricted Assets (Forward) 5 1,209,157 5 151,803 $ 185,318 $ 410,060 $ 1,956,343 l
I' See Accompanying Notes tre.es ..a\ t er n
., - :+
aP CITY OF LEESBURG, FLORIDA COMBINING BALANCE SHEETS ALL ENTERPRISE FUNDS SEPTEMBER 30, 1980 AND 1979 Statement E-1 OTHER ENTERPRISE FUNDS SANITARY SEWER AND ELECTRIC GAS WATER WASTERWATER COMBINED SANITATION Total UTILITY UTILITY UTILITY TREATMENT UTILITY SERVICES AMBULANCE September 30 FUND ' FUND FUND FUND FU1D FUND FUND 1980 1979
[
RESTATED l-j (NOTE 1)-
R stricted Assets (Forward) $ 1,209,157 $ 151,808 $ 185,318 $ 410,060 $ 1.956,293__ $ $ $ 1.956,343 $ 1,867,402.
1977 Bond Proceeds Cash 314,206 314.,206 314,206
. Investments 845,352 Due from Environmental Protection Agency (Note 5) 239,547 239,547 239.547- 600,243 Due from Developers (Note 5) 9,921 9,921 9,921- 30,569 1 1980 Note Proceeds (Note 3 ) i Investments 3,274,'.72 3,274,772 3,274,772- !
Designations: l i
Depreciation Fund Cash 81,079 Investments 353,068 37,002 41,373 60,564 492,007 '492.007 147,481 Potable Water Fund Cash 47,562
, Investments 30,360 30,360 30.360 Customer Deposits - Cash 477,706 20,273 21,832 519,811 519,811 431,416 f w 278,883 6,836, % 7 6,836, % 7
- Total Restricted Assets 5,314,703 209.083 1,034,298 4,051,104 1
- Plant in Service, at Utility Cost (Note 1): . .
Property and Equipmer* 14,009,594 1,777,848 3,841,538 3,656,888 23,285.868 315,782 218.178 23,819,828 23.178,248 Nuclear Fuel 444,279 444,279 444,279 232,577 Accumulated Depreciation ( 4,063,932) ( 766,356) (1,007,222) ( 756,839) ( 6,594.349) (135,032) ( 89.156) ( 6,818,537) ( 6.225,636)'
Construction in Progress (Note 5) 737,570 8,218,781- 8,956,351 8,956,351 3,475,261 Total Utility Plant in Service 11,127,511 1,011.492 2,834,316 11.118,830 26,092.149 180,750 129,022 26,401,921 20,660,450
! Other Assets:
Interfund Advances Receivable 1,715,617 193,551 1,909.168 1,909.168 3.147,830 (Note 1)
Deferred Issue Costs (Net) 173,49o 12,895 18,846 42,707 247,944 247,944 212,888 Total. Assets $ 23,038,207 $ 1,561,200 $ 3,313,696 $12,282,555 $40,195,658 $ 280,277 $ 197,080_ $40,673,015 $32,567,073 l
See Accompanying Notes (ContJnued) 2 of 4 a
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..~.~. - . - . . - .- .. -
l CITY OF LEESBUPG, FLORIDA COMBINING BALANCE SHEETS ALL ENTERPRISE FUNDS SEPTEMBER 30, 1980 AND 1979 Statement E-1 OTHER ENTERPRISE FUNDS SANITARY' SEWER AND ELECTRIC GAS WATER WASTEWATER COMBINED SANITATION Total UTILITY UTILITY UTILITY TtEATMENT UTILITY SERVICES- AMBULANCE. September 30 .
FUND FUND FUND FUND FUND FUND FUMD 1980 1979 i RESTATED (NOTE 1). H LIABILITIES Current Liabilities: .
7,092 2.416 $r1,330,618 $ 828,111 Accounts Payable $ 838,146 $ 6.876 $ 7.877 $ 468,211 - $ 1,321.110 $ .$
3.030,955 66,820 3,097,775 3,097.775 2,173,433; Accounts Payable-Purchased Energy l
I Accrued Expenses 167,675 167,675 167.675 40.823 .
2,284 7,200 137,483 137,483 117,316
! Customer Advances for Construction 127.999 133,070 17,197 532,271 684,559 D'e to Other Funds 382,004 382,004 -
l 5,265,822 3,844,242 l
4~,546,779 7@ 7,577 475,411 5,106,047 140,162 19,613 Current Liabilities (Paya'le u from Rest *1cted Assets): 519,811 431,416-
. Customer Deposits 477,706 20,273 21,832 519,811 225,247 22,582 33,001 74,786 355,616 355,616, 354,890 4 Accrued Interest on Revenue Bonds 875,427 786,306-74,786 875,427 y 702,953 42,855 54,833 Oth:r Liabilities: 12,020,000 -12,020,000 R2 venue Bonds Payable (Note 3) 7,613,468 763.270 1,115,456 2,527,806 12,020,000 Unamortized Discount ( 135,860) ( 13,620) ( 19,905) ( 45,108) ( 214.493) ( 214.493) ( .224,856)
Int:rfund Advances Payable (Note 1) 731,970 1,177,198 1,909.168 1,909.168 - 3,147,830 1980 Bond Anticipation Note (Note 3) 4,000,000 4,000,000 , 4,000,000 11,477,608 749,650_ 1,827,521 3,659,896 17,714,675 17,714,675 14,942,974 l 16,727,340 1.890,231 4.210.093 23.696.149 140.162 19.613 23.855.924 19.573.522 Total Liabilities 868.485 FUND EQUITY
- t Contributed Capital: 7,228,801 3,438,503 Federal Government 17,087 6,512 6,512 7,197,790 7.228,801 515,250 51,916 285,362 852,528 852,528 658,989, Private Contributions 440, % 7 203,838 644,805 643,8055
' Gen:ral Fund Contributions
- Emergency Medical Service (Net of
! Accumulated Depreciation -
44,209 61,815 of $51,904) (Note 1) 44,209
[.
i Total Contributed Capital '$ 533,237 $ 6,512 $ 58,428 $ 7,483.152 $- 8,081,329 ' $ 440,%7 .$ 248,047 $ 8,770,J,43_ $ 4,803.112 l
I r
See Accompanying Notes.
! (Continued) 3 of 4 i
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, .. . a . . . . . . _
CITY OF LEESBURG, FLORIDA COMBINING BALANCE SHEETS ALL' ENTERPRISE FUNDS SEPTEMBER 30, 1980 AND 1979 Statement E-1 l . .
OTHER ENTERPRISE FUNDS SANITARY
.SEWEP AND ELECTRIC GAS WATER WASTEWATER CDMBINED SANITATION Total' UTILITY UTILITY UTILITY TREATMENT UTILITY ~ SERVICES AMBULANCE September 30 FUND FUND FUND FUND FUND FUND FUND 19E0 1979
. RESTATED l (NOTE 1) l R2tained Earnings:
R25trved:
Revenue Bond Debt Service $ 423,094 $ 42,416 .$ 61,988 $ 140,475 $ 667,973 $ $- $ 667.973 $ 433,967 Revenue Bosd Reserve 560,328 56,174 82,094 186,039 884,635- B84,635~ 853,995 Renewal ard Replacement 488 30,636 8.236 8.759. 48,119 48,119 224,550 1977 Bond Proceeds 1,476,164 Designations: . - . .
Depreciation Fund 353,067 37,003 41,372 60,565 492.007 492.007. 228,560.
! Potable Water fund 30,360 30,360- 30,360 47,562-l Unreserved Balance (Deficit) 4,440,653 519,974 1,140,987 193,472 '6,295,086 . .852 ( 70,580? _5,923,654 -4 Total Retained Earnings 5,777.630 686,203 1,365,037 589.310 8,418,180 1300,55]7T (300, ' (-70,580? 8,046,748.'b,9256413 , 37 -
- Total Fund Equity 6,310,36_7_ 692,715 1,423,465 8,072,462 16,499.509- '140,115 177.467 16,817,091 12.993,551 e Total Liabilities and . . .
Fund Equity $23,038,207 $1,561.200 $ 3.313,696 $12.282,555 $40,195.658 $ 280.277' $ 197,080 ,$40,673,015 $32,567,073-See Accompanying Notes
-(Concluded) 4' of 4 -
t 9
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m CITV 0F LEESBL'RG, FLORIDA COM81N!NG STATEMENT OF OPERATIONS AND CHANGES IN RETAINED EARNINGS (DEFICIT)
ALL ENTERPRISE FUNDS FISCAL YEARS ENDED SEPTEMBER 30,1980 AND 1979 Statement E-2 ,
. OTHER ENTERPRISE FUNDS SANITARY SEWER AND ELECTRIC GAS WATER WASTEWATER COMBINED SANITATION Total UTILITY UTILITY UTILITY SERVICES AMBULANCE September 30 UTILITY TREATMENT FUND FUND FUND FUND FUND FUND 1980 1979 FUND RESTATED (NOTE 1)
Operating Revenue: 148,503 $ 18,412,457 $ 14,285,023 l
Service Charges $ 13,598.851 $ 2,672,328 $ 690,217 $ 804,517 $17,765,913 $ 498,041 5
! 208,520 208 520 188,497 l Contract Revenue 17,765,913 498,041 357,023 ' 18,62Di97T 14,473,520 13,598,851 2,672,328 690.217 804,517 Operating Expenses 529,166 326,040 15,743,606 11,716,623 Operating and Maintenance 11.762,248 2,111,766 476,049 532,337 14,888,400 456,319 54,038 65,607 51,913 627,877 37,099 19,525 684,501 760,684 Depreciation 566,265 345,565 16,428,E7- 12,477,307 12,218,567 2,171,804 541,656 584,250 15,516,277 1,380,284 500,524 148,561 220,267 2,249,636 ( 68,224) 11,458 2,192,870 1,996,213 Operating Income (Loss)
[ Non-Operating Revenue (Expense): 2,927 12,150 N Other Income (Expense) 16,287 ( 12,627) 573 4,990 9.223 169,828 16,246 19,621 75,561 281,256 281,256 308,834 Interest Earnings 740,5731 733.721;'
Interest Expense ( 468,254? ( 46,494) ( 67,946) ( 157,879:i( 740,573:' . ( '
282,139; 42,875) ( 47,752) ( 77,328? ( 450,094; i 2,927 { 447,167) 424,887; i
( i Net Income 8efore Operating 1,745,703 1,571,326 Transfers 1,098,145 457.649 100,809 142,939 1,799,542 ( 68.224) 14.385 Operating Transfers: ( 1,907,000) ( l,907,000) ( 344,541:'
(1,377,425) ( 529,575) 107,458) ( 68.224) 14,385 ( 161,297) ( 344,541J To General Net Income Fund (Note 1)) (
(Loss 279,280) ( 71,926) 100,809 142,939 (
Retained Earnings (Deficit) ( 232,628) ( 102,571) 8,190,439 8,519,886 October 1 6,056,910 758,129 1,264,228 446,371 8,525,638 Add Depreciation on EMS Ambulance Vehicles that Reduces Contributed 17,606 17.606 15,094 Capital (Notes 1 and 12)
Retained Isrnings (Deficit) 70,580) $8,046,748 $ 8,190.439 Septembe 30 $ 5,777,630 $ 686,203 $1,365,037 $ 589,310 $ 8,418,180' $1 300,852) $(
See Accompanying Notes
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CITY OF 8.EESBURu, FLORIDA COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION ALL ENTERPRISE FUNDS .
FISCAL VfARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement E-3 OTHER ENTERPRISE FUNDS SANITARY SEWER AND ELECTRIC GAS WATER WASTEWATER COMBINED SANITATION Total UTILITY UTILITY UTILITY TREATMENY UTILITY SERVICES AMBUL M CE Septenber 30 FUND FUND FUND FUND FUND FUND FL";D 1980 1979 Sources of Working Capital:
Operations:
Net Income (Loss) $( 279,280) $(71,926) $100,809 $ 142,939 $( 107,458) !( 68,224) $ 14,385 $( 161.297) $( 344,541)
Items not requiring the use of Working Capital:
Depreciation expense 456,319 54,038 65.607 51,913 627,877 37,099 19,525 684,f01 760,685 Depreciation Capitalized 12,636 I?,636 12,636 Amortization of Nuclear Fuel 74,047 74,047 74,047 Amortization of Deferred issued cost and Bond Discount 12,778 1,281 1,872 4.243 20,174 20,1/4 20,174 Working Capital Provided by (used in)
Operations 276,500 (16,607) 168.288 199,095 627,775 ( 31.125) 33,910 630.061. 436,318 Decrease in Restricted Assets 787,359 7E7,M ) 787,359 669,589 Decrease in Ir.terfund Advances Receivable 1,198,242 4C,420 1,238,662 1,238,662
, N1t Increase in Current Liabilities
! w Payable from Restricted Assets 81,695 7,494 3,779 153 89,121 80.121 i Contributed Capital 66,346 11,535 3,905,956 3,983,837 1,000 3,9t E7 2,751,814 1980 Bond Anticipation Notes Payable 4,000,000 4,0C0,000 4,000,000 Book Value of property and Equipment Disposals 17,653 14,009 3,420 35,082 1,748 36,830 Book Value of Procerty and Equipment Reclassifications 25,967 25,fE7 25,967-Total Sources of Working Capital 5,666,403 41,316 183,602 4.895,983 10,787, %_ _ ( 30,125) 35,658 10,79 837- 3,857,721 Usts of Working Capitc1 Net Increase in Restricted Asseis 3,461,058 60,376 51,788 ' 3,573,2 I 3,573,222 Acquisition of Property & Equipment 591.406 44,053 106,670 43,022 785,151 70,737 805 856,693 974,832 Increase in Nuclear fuel 211,702 211,702 211,702 177,184 Increase in Construction in Progress 737,570 4,743,520 5,481,090 5,481,090 2,976,515 Increase in Deferred Issue Costs 44,867 44,867- 44,867 Net Decrease in Current Liabilities 360,202 Payable from Restricted Assets Decrease in Interfund Advances Payable 17.112- 1,221,550 1,238,662 1,238,662 Book Value of Property and Equipment Reclassificatiens 25,967 , 25,967 25, % 7
~5,046,603 201,537 _ 6,008,092 11.360,66T 70,737 805 , 11,432,203 4,483,733 Total Uses of Working Capital 104,429 Nat Increase (Decrease) in Werking Capital Page) (See Schedule on followiqg $ 619,R00 f $( 63,113) $( 17,935) $(1,112,109) $( - 573,357) ' $( 100,862) $ '34,853 $( 639,366) $(~ 631.012)
See Accompanying Notes- ' (Continued) ~ 1 of 2
o CITY OF LEESBURG ' FLORIDA, COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION ALL ENTERPRISE FUNDS FISCAL YEARS ENDED SEPTEMBER 30, '980 AND 1979 Statement E-3 OTHER ENTERPRISE FUNDS SANITARY SEWER AND ELECTRIC GAS WATER WASTEWATER COMBINED SANITATION Total UTILITY UTILITY UTILITY TREATMENT UTILI1i SERVICES AMBULANCE September 30 )
l FUND FUND FUND FUND FUND FUND FUND 1980 1979 RESTATED (NOTE 1)
(
l Elements of Net Increase (Decrease) in Working Capital: 184,196 $( 53,523)
Cash $ 184,196 $ 5 $ $ 184,196 $ $ $
1,113.359 1,113.359 1,113,359 190.841 Investments 23,463) 231,603 852,541 Customer Accounts (Net) 295,138 ( 7,569) ( 23,844) ( 7,720) 256,005 ( ( 939) i
( 625,054) ( 602.607) ( 602.607) 606.428 Due from Other Governments . 22.447 21,244) 45,131 Accrued Interest on Invectments( 21,244) ( 21,244) (
13,786 3,924) 115.400 62,763 178,253 ( 39,846)-
Inventory 108,985 ( 3.357) (
356,107 55,405 300,702) ( 13,609)
Due from Other Funds ( 356,107 (
1,426,849) (1,782,199)
Accounts Payable ( 891,350 ( 49,903) ( 7,877) (468,211) ( l.417.341 ( 7,092) ( 2,416)
( 126,852 126,852 126,852) ( 1,552).
$2 Accrued Expenses (
e Customer Advances for Construction ( 10,683) ( 2,284) ( 7,200) ( 20,167) ( 20,167) (' 17,661)
( 417,563)
Due to Other Funds 301.911 301.911 ( 133,070) ( 17,197) 151,644 Net increase (Decrease) in 573,357) $( 100,862) $ 34,853 $( 639,366) $( 631,012)
. Working Capital $ 619,800 $( 63,113) $( 17,935) $(1,112,109)$f See Accompanying Notes (Concluded) 2 of 2 s
p, _
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4 l~
y-INTERNAL SERVICE FUND The Motor Pool Service Fund has been established _ to account for the cost of maintaining automotive vehicles for the various departments of the City. Costs are billed at estimated actual cost which includes depreciation on maintenance equipment. Such billings are recognized as operating revenue in the Motor Pool Service Fund and as expenses or expenditures of the various departments and other funds. The Motor Pool Service Fund is a proprietary fund and is maintained on the accrual basis. Certain administrative expenses are paid by the-General Fund (Note 1).
CITY OF LEESBURG, FLORIDA MOTOR P0OL SERVICE' FUND- <
' BALANCE SHEET SEPTEMBER 30, 1980' Statement F-1 e
ASSETS Current Assets:
Due from Community Development Fund- -$: 2,002 Due from Sanitation Services Fund 133,070
-135,072 Property,plantandequipment,atcost(Note 1):
Machinery and equipment 27,379 Less: Accumulated depreciation 13,258
}
Total Assets $ 149,193 i
LIABILITIES AND FUND EQUITY Current Liabilities:
Accounts payable $ 27,885 Due to General Fund 100,487 Due to Electric Utility Fund 20,760 l 149,132 Fund Equity:
Contributed Capital-General Fund 15,979 Retained earnings (deficit) ( 15,918)
- 61 l Total Liabilities and Fund Equity $ 149,193 f
1 l
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CITY OF:LEESBURG, FLORIDA
'~ MOTOR P0OL SERVICE FUND STATEMENT OF-REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE FISCAL YEAR-ENDED SEPTEMBER 30, 1980 Statement F-2
. Operating Revenues --
f Charges for Services $ 307,984-Operating Expenses:
Personal Services 72,351 Repairs and Maintenance 7,215 Operating Supplies.
-23,348 Petroleum and Oil 45,520-Gasoline 45,282 Major Vehicle Parts 109,059 Tires -12,082 Batteries 4,567 Depreciation 3,029~
f Insurance 1.449 323,902-.
Net Loss ( 15,918)
Retained Earnings, Beginning of Year Retained earnings (deficit), End of Year $( 15,918)
See Accompanying Notes
)
CITY OF LEESBURG, FLORIDA MOTOR P00L SERVICE FUND. "
STATEMENT OF' CHANGES IN' FINANCIAL POSITION FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1980 Statement F-3 1
Uses of Working Capital:
Operations:
Net loss $( 15,918)
Depreciation not requiring the use of working capital in the current year 3,029 Working Capital Used in Operations ( 12,889)~
Additions to Property and Equipment:
Net transfer from General Fixed Assets-(Note 1) ( 15,973)
Current Additions ( 1,177).
. Total Uses of Working Capital $( 30,039)
Sources of Working Capital:
Contributed Capital - General Fund 15,979 Net Decrease in Working Capital St 14,060)
ElementsofNetIncrease'(Decrease) in Working Capital:
Due from Other Funds 135,072 Accounts Payable ( 27,885)
Due to Other Funds ( 121,247)
Net Decrease in Working Capital $( 14,060) i See Accompanying Notes
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FIDUCIARY TYPE FUNDS Fiduciary type funds are used to account for assets held by the City in a trustee capacity or as an agent for individuals, private organizations,- other governmental units, and/or other funds.. Certain Administrative expenses are phid by the General Fund (Noto-1).
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,. . . _ . . _. . _ . . . _ . . , _ . _ . . . , . _ _ , _ . . . , . _ , . - _ _ . . . . . . , , _ . . . . . .._m. _,, ~ .. .. . - , . . . , . , ._, . . . . . . . . . ..
.-. ~ _ .- - . . -. . . - . - . . - .
CITY OF LEESBURG, FLORIDA l COMBINING BALANCE SHEET ALL PENSION TRUST FUNDS SEPTEMBER 30, 1980 Statement'G-1 MUNICIPAL MUNICIPAL RETIREMENT TOTALS POLICE FIREMEN'S PLAN FOR
! RETIREMENT RETIREMENT GENERAL SEPTEMBER 30 I TRt1T FUND PLAN EMPLOYEES 1980 1979 l
ASSETS i
Cash $ 13,101 $ -11,063 $ 5,074 $ 29,238 $ 79,265 Investments, at Cost or Amortized Cost 469,430 568,859 1,244,985 2,283,274 1,701,844 i
Receivables:
Accrued Interest on Investments 11,008 12,131 27,174 50,313 29,094 Due from General Fund 4,204 4,204 17,300
' Total Assets $ 493,539 -$ 596,257 $ 1,277,233 $ 2,367,029 $ 1,827,503 l$
LIABILITIES AND FUND BALANCES Liabilities:
Due to General Fund 7,980 8,358- 105 16,443- 8,773 Accounts Payable 411 1,012 1,423 Total Liabilitics 7,980 8,769 1,117 17,86 F 8,773 Fund Balances:
Reserved for Employee Contributions 76,144 93.491 169,635- 110,606 Reserved for Employer Contributions 276,306 1,276,116 1,552,422 .1,090,286 Reserved for State of Florida Contributions 221,638 150,585 372,223 265,022-Reserved for Assets Contributed From Prior
. Group Annuity Plan (Note 12) 176,323 Reserved.for Undistributed Investment Income 67,106 67,106 23,067 Reserved for Actuarial Deficiency (Note 13) 570,305 1,212,414' .1,782,719 736',413" Fund Balance (Deficit) 187,777- (570,305). (1,212,414) (1,594,942) ( 582,987 Total Fund Balances 485,559 587,488 1,276,116 2,349,163 1,818,730-Total Liabilities and Fund Balances- 493,539 $ 596,257 $ 1,277,233 $ 2,367,029 $ 1,827,503 See Accompanying Notes a m ___ ___. __
i CITY OF LEESBURG, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES ALL PENSION TRUST FUNDS FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement G-2 MUNICIPAL MUNICIPAL RETIREMENT TOTALS POLICE OFFICERS FIREMEN'S PLAN FOR RETIREMENT RETIREMENT GENERAL YEARS ENDED SEPTEMBER 30 TRUST FUND PLAN EMPLOYEES 1980 1979 Operating Revenues:
Investment Income $ 37,083 $ 46,181 $ 104,842 $ 188,106 $ 104,647 Contributions:
Employee 18,764 25,947 44,711 37,895 Employer 64,958 241,081 306,039 263,798 State of Florida 31,479 23,485 54,964 56,605 Total Contributions 50,243 114,390 241,081 405,714 358,298 Total Operating Revenues 87,326 160,571 345,923 593,820 462,945 Operating Expenses:
Benefit Payments 6,401 657 32,663 39,721 11,937
$s Refunds 8,889 1,877 10,766 6,332 i Administrative Expenses 2,065 2,749 8,086 12,900 4,325 Total Operating Expenses 17,355 5,283 40,749 63,387 22,594 Net Income 69,971 155,288 305,174 530,433 440,351 Fund Balance 415,588 432,200 970,942 1,818,730 1,455,188 Adjustment to Carrying Value of Assets Transferred from Prior Group Annuity Plan (Note 12) ( 76,809)
Fund Balances, September 30 $ 485,559 $ 587,488 $1,276,116 $2,349,163 $ 1,818,730 See Accompanying Notes
CITY OF LEESBURG, FLORIDA COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
- ALL PENSION TRUST FUNDS FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement G-3 i i MUNICIPAL MUNICIPAL RETIREMENT TOTALS POLICE FIREMEN'S PLAN FOR RETIREMENT RETIREMENT GENERAL- YEARS ENDED SEPTEMBER 30 TRUST FUND PLAN EMPLOYEES 1980 1979 Sources of Working Capital Operations:
Net Income (Total Source of .
530,433 $ 440,351 Working Capital) $ 69,971 $ 155,283 $ 305,174 $_
.Uses of Working Capital:
Adjustment to Carrying Value of Assets Transferred from Prior Group Annuity
( 76,809)
Plan (Note 12)
N;t Increase in Working Capital $ 69,971 $ 155,288 $ 305,174 $ 530,433 $ 363,542 E
83 Elements of Net Increase (Decrease) in Working Capital:
Cash ( 54,938) 777 4,134 -( 50,027) 581,430
.(.1,037,221 644)
Investments 128,253 145,520 307,657 4,221 5,198 11,800 21,219 19,942-Accrued Interest on Investments Due from General Fund '4,204 ( 17,300) ( 13,096) 13,879 Due from Group Annuity Contract Carrier ( 704,499).
( 17,193)
Due from Pension Fund 7,670)- 8,773)-
Due to General Fund ( 7,565) (' 105) ( (
Accounts Payable ( 411) ( 1,012) ( 1,423) 6,416.
17,193 Due to Pension Fund 69,971 155,288 305,174 530,433- 5 363,542 Increase in Working Capital $ $ $ $
See Accompanying Notes i
.s
7.
ACCOUNT GROUPS Account Groups are used to establish accounting control and account-ability for the City's general fixed assets and the unmatured principal of its general long term debt. These account groups are not funds -
they do not reflect available financial resources and related liabilities.
\
4 CITY OF LEESBURG, FLORIDA STATEMENT OF GENERAL LONG-TERM DEBT SEPTEMBER 30, 1980 AND 1979 Statement H-1 AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG-TEPJi DEBT SEPTEMBER 30 SEPTEMBER 30 1980 1979 Serial Bonds - Public Improvement Revenue Certificates:
Amount Available in Debt Service Fund $ 111,855 $ 104,596 Amount to be Provided 228,145 265,404 Total - Serial Bonds 340,000 370,000 Other Long-Term Liabilities:
Amount to be Provided 224,106 _ 221,259 Total Available and to be Provided $ 564,106 $ 591,259 GENERAL LONG-TERM DEBT PAYABLE (NOTES 1 and 3)
Public Improvement Revenue Certificates Payable $ 340,000 $ 370,000 Hospital Equipment Note Payable 137,906 197,259 Other Equipment Note Payable 63,200 Real Estate Notes Payable 23,000 24,000 Total General Long-Term Debt Payable $ 564,106 % 591,259 l
l See Accompanying Notes l
l CITY OF LEESBURG, FLORIDA STATEMENT OF GENERAL FIXED ASSETS SEPTEMBER 30,1980 AND 1979 Statenent H-2 SEPTEMBER 30 SEPTEMBER 30 1980 1979 Restated (Note 1)
General Fixed Assets:
Land $ 940,456 $ 940,456 Buildings 3,352,899 3,297,356 Improvements Other than Buildings 504,609 544,084 Equipment 1,633,909 1,915,677 Construction Work in Progress 54,986 ; Total General Fixed Assets $ 6,486,859 $ 6,697,573 Investments in General Fixed Assets From:
General Obligation Bonds and Revenue Certificates $ 1,245,756 $ 1,245,756 Capital Projects Funds:
Economic Development Administration Grants 430,079 430,079 Special Improvement Fund 62,657 62,657 Hospital Construction Fund 2,174,204 2,174,204 Federal, State and Local Grants 290,001 215,666 General Fund Revenues 1,962,715 2,258,786 Special Revenue Fund Revenues 262,216 251,707 Utility Revenue Fund Revenues 59,231 58,718 Total Investment in General Fixed Assets $ 6,486,859 $ 6,697,573 See Accompanying Notes
. _ . - - .- . . _.. ~ ~ . . _ _ _ _ .-_
i l CITY OF LEESBURG, FLORIDA SCHEDULE OF GENERAL FIXED ASS,7S - BY FUNCTIONS AND ACTIVITIES SEPTEMBEA 30, 1980 Statement H-3 l IMPROVEMENTS OTHER THAN FUNCTION AND ACTIVITY TOTAL LAND BUILDINGS BUILDINGS EQUIPMENT Gencral Government:
Legislative $ 805,649 $ 685,331 $ 120,318 $ $ Extcutive 130,198 130,198 Financial & Administrative 31,119 31,119 Other General Government 72,188 55,709 16,479 Total General Government 1,039,15T 741,040 120,318 177,796 Public Safety:
Law Enforcement 532,776 5,452 161,674 39,332 326,318 Fire Control 469,563 5,452 198,335 1,298 264.478 Detention and Correction 1,450 .1,450 Protective Inspcction 5,935 5,935 Total Public Safety 1,009,724 10,904 360,009 40,630 598,181 Physical Environment 243,397 243,397
' Transportation:
Roads and Streets 102,604 17,433 47,918 37,253 Airport 128,741 43,050 49,467 29,319 6,905 Total Transportation 231,345 60,483 97,385 29,319 44,158 Economic Environment 15,296 15,296 Hospitals and Human Services 2,179,114 31,430 2,147,684 Culture and Recreation: 109,046 Libraries 172,052 63,006 699,839 19,357 138,759 149,790 391,933; Parks and Recreation 2,191 Cultural Services 222,527 218,866 1,470 619,425 77,242 206,872 ~283,400 51,911 Sp:cial Recreational Facilities 434,660 555,081 Total Culture and Recreation 1,713,843 96,599 627,503 6,431.873 $ 940,456 $ 3,352,899 $ 504,609 - $1,633,909 Construction Work in Progress 54,986-Total General Fixed Assets $ 6,486,859 See Accompanying. Notes. ,
CITY OF LEESBURG, FLORIDA STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY FUNCTIONS AND ACTIVIT4ES FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1980 Statement H-4 GENERAL GENERAL FIXED ASSETS FIXED ASSETS FUNCTION AND ACTIVITY 10/1/79 ADDITIONS DEEUCTIONS 9/30/80 General Government:
Legislative $ 805,649 Executive
$ $ $ 805,649 122,502 8,696 1,000 130,198 Financial and Administrative 31,156 2,583 2,620 31,119 Other General Government 74,538 2,350 72,188 Total General Government 1,033,845 11,279 5,970 1,039,154 Public Safety:
Law Enforcement 471,523 61,253 532,776 Fire Control 466,592 2,971 469,563 Detention and Correction 1,450 1,450 Protective Inspection 732 5,203 5,935 Total Public Safety 938,847 70,877
- 1,009,724-
.i jg Physical Environment 679,278 42,114 477,995 243,397 i'
Transportation:
Roads & Streets 115,447 32,469 45,312 102,604 Airport 121,836 6,905 -128,741 2
Total Transportuoion 237,283 39,374 45,312 231,345 Economic Environment 9,414 5,882 15,296 Hospitals and Human Services 2,179,114 2,179,114 I
Culture and Recreation:
Libraries 115,779 56,273 172,052 Parks and Recreation
" 667,475 32,364 699,839 Cultural Services 221,852 675 222,527 Special Recreational Facilities 614,686 9,870 5,131 619,425
- Total Culture and Recreation 1,619,792 99,182 5,131 1,713,843 Construction Work in Progress 54,986 54,986 Total General Fixed Assets $ 6,697,573 $ 323,694 $ 534,408 $ 6,486,859 See Accompanying Notes
CITY OF LEESBURG, FLORIDA l
STATEMENT OF CHANGES IN GENERAL FIXED ASSETS - BY SOURCES FOR THE FISCAL YEARS ENDED SEPTEMBER 30, 1980 AND 1979 Statement H-5 IMPROVEMENTS CONSTRUCTION TOTALS OTHER THAN WORK IN SEPTEMBER 30 LAND BUILDINGS BUILDINGS EQUIPMENT PROGRESS 1980 1979
$ 3,297,356 544,084 $1,915,677 $ 6,697,573 $ 8,029,B87 General Fixed Assets (Beginning of Year) $ 940,456 $ $
Reduction in carrying value for Public Domain inherently permanent structures (1,391,166)
(Note 1) 940,456 3,297,356 544,084 1,915,677 6,697,573 6,638,721 Ba'ance, as restated Add: 213,015 1,375 233,316 165,718 Expenditures from General Fund Revenues 2,205 16,721 Expenditures from Special Revenue Fund 5,660 15,530 79,094 9,870 Revenues Expenditures from Utility Revenue 513 513 Fund Revenues Expenditures from Capital Project Fund: 63,295 Federal Grant - EDA 49,487 49,487 Federal Grant - Airport 4,124 24,848 State and County Grants 12,450 2,550 5,724 509,995 Projects of Prior Years Completed 29,141 224,912 54,986 323,694 818,102 Total Additions Before Reclassification 14,655 48,369 10,175 58,544 ui Reclassifications 63,024 29,141 235,087 54,986 382,238 818,102
",' Total Additions 940,456 3,360,380 573,225 2,150,764 54,986 7,079,811 7.456,823 Total Balances and Additions Deduct: 24,540 24,540 37,750 Fixed Assets Sold or Traded 7,481 10,072 17,553 Fixed Assets Worn Out and Written Off Fixed Assets Transferred to Sanitation 466.107 466,107 Services Fund 26,208 26,208 Fixed Assets Trans, to Motor Pool Fund 211,505 Fixed Assets Trans, to Ambulance Fund Capital Projects Fund Projects of Prior 509,995 Years Completed 534,408 759,250 7,481 10,072 516,855 Total Deduct. Before Reclassifications 58,544 58,544 Reclassifications ~~~
7,481 68,616 516,855 592,952 759,250 Total Deductions $ 940,456 $ 3,352,899 $ 504,609 $1,633,909 $ 54,986 $ 6,486,859 $ 6,697,573 General Fixed Assets (End of Year)
~~'
See Accompanying Notes
_ _ . _ _ . . . . _ _ _ . _ . _ _ . _ _ _ . _ . _ _ . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ 4_ - _ _ _ _
SUPPLEMENTARY SCHEDULES The data presented in the following schedules are not necessary for fair presentation in conformity with generally accepted accounting principles. Schedules are used:
(a) to demonstrate finance-related legal and contractual compliance (e.g., where the bond indenture requires .,
specific data to be presented).
(b) to present other information deemed useful.
(c) to provide details of data summarized in the financial statements.
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Brooks, Brown, Shumacker, Logan and SuNivan CERTiflED PUBUC ACCOUNTANTS 215 North 3rd Street
- Leesburg. Florida 32748 Telephone (904) 787-8682 MW8ERS: . W. THOMAS BROOK 5 C.P.A.
B. ALLEN BROWN. [R.. C.P.A.
Florida institute of Certified Public Accountants
- 1. CECIL SHuMACKER. Ill. C.P.A.
Amerkan Institute of Certified Public Accountants DAVID C. LOCAN, C.P.A.
CYNTHIA L. SuLLIVAN, C.P.A.
January 17, 1981 '
The Honorable City Commissioners City of Leesburg, Florida The additional information presented in the following pages which has been taken primarily from accounting and other records of the City has been subjected to the tests arid other auditing procedures applied in our examination of the financial statements of the City of Leesburg, Florida for the years ended September 30, 1980 and 1979. In our opinion, such information is fairly presented in all material respects in relation to the financial statements taken as a whole although it is not necessary for a fair presentation of financial position results of operations or changes in financial position.
I sh Brooks, Brown, Shumacker, Logan & Sullivan Certified Public Accountants
CITY OF LEESBURG, FLORIDA COMBINED SCHEDULE OF INVESTMENTS - ALL FUNDS SEPTEMBER 30, 1980 Schedule I-l INTEREST MATURITY PAR BOOK DESCRIPTION RATES (%) DATES VALUE VALUE' Federal Revenue Sharing Fund Savings Deposits 5.5 $ .4,133 $ 4,133 Utility Funds - (Unrestricted)
Savings Deposits 5.25 5.50 20,203 20,203 Repurchase Agreements Various 1981 56,302 56,302 U. S. Treasury Bills 15.42 1981 703,261 661,933 U. S. Treasury Bills 9.4 1980 569,165 565,761 1,348,931 1,304,199 Revenue Bond Debt Service:
Savings Deposits 5.25 19,793 19,793 U. S. Treasury Bonds 8.25 1995 190,000 193,932
-U. S. Treasury Bonds 8.25 2005 205,000 209,477 414,793 423,202 Revenue Bond Reserve:
Savings Deposits 5.5 4,966 4,966 U. S. Treasury Bonds 4.25 1985 40,000 36,826 U. S. Treasury Bonds 3.25 1983 18,000 17,465 U. S. Treasury Bonds 3.25 1983 37,000 37,000 U. S. Treasury Bonds 8.625 1980 240,000 239,850 U. S. Treasury Bills 15.86 1981 165,000 154,731 504,966 490,838 Renewal and Replacement:
Savings Deposits 5.25 47,414 47,424 1980 Bond Proceeds:
Repurchase Agreements Various 1980 3,410,835 3,274,772 Potable Water Fund:
Savings Deposits 5.25 2,561 2 ,561-Repurchase Agreements Various 1981 27,799 27,799 30,360 30,360 Depreciation Fund:
U. S. Treasury Bills 15.42 1981 421,739 396,955 Municipal Police Officers Retirement Trust Fund Federal Home Loan Bank 9.6 1982 50,000 50,000 Federal Land Bank Note 7.95 1985 45,000 43,573 Federal Farmers Credit Bank 10.9 1983 60,000 60,000 Federal Farmers Credit Bank 10.9 1983 50,000 50,000-U.S. Treasury Note 7.125 1902 94,000 91,415 U.S. Treasury Note 13.875 1982 15,000 14,836 Schedule 1 (Continued) 1 of 3
~.
CITY OF LEESBURG, FLORIDA.
COMBINED SCHEDULE OF INVESTMENTS - ALL FUNDS SEPTEMBER 30, 1980 Schedule I-l INTEREST MATURITY PAR BOOK DESCRIPTION RATES (%) DATES VALUE VALUE Municipal Police Officers Retirement Trust Fund (continued)
U.S. Treasury Note 8.625 1982 $ 50,000 $ 50,000 U.S. Treasury Note 11.125 1982 50,000 50,000 U.S. Treasury Note 6.75 1981 41,000 39,606 U.S. Treasury Bills 12.84 1982 20,000 20,000 475,000 469,430 Municipal Firemen's Retirement Plan Cash Equivalents U.S. Treasury Bills 11.6 1981 15,000 13,800 Institutional Liquid Assets 9.9 N/A 13,500 13,500 U.S. Government Bonds:
U.S. Treasury Notes 8.0 1985 50,000 48,281 U.S. Treasury Notes 8.25 1988 50,000 47,891 U.S. Treasury Notes 9.00 1987 50,000 49,359 U.S. Treasury Notes 9.00 1982 50,000 48,515 U.S. Treasury Notes 10.125 1981 25,000 24,602 U.S. Treasury Notes 10.75 1989 50,000 48,516 U.S. Treasury Notes 10.375 1985 50,000 48,602 U.S. Treasury Notes 10.5 1983 25,000 24,960 U.S. Treasury Notes 11.125 1982 50,000 50,094 Federal Agency:
Federal Home Loan Bank 9.35 1985 35,000 34,916 Federal National Mortgage 9.2 1986 35,000 34,511 Federal Farm Credit Bank 9.2 1985 35,000 34,344 Corporate Bonds:
J.P. Morgan & Company, Inc. 8.0 1986 25,000 22,810 Philip Morris, Inc. 8.5 1985 25,000 24,158 583,500 568,859 Retirement Plan For General Employees Cash Equivalents:
U.S. Treasury Bills 11.6 1981 20,000 18,385 Institutional Liquid Assets 9.9 N/A 6,900 6,900 U.S. Government Bonds:
U.S. Treasury Notes 8.0 1985 100,000 96,758 U.S. Treasury Notes 8.25 1988 100,000 96,109 U.S. Treasury Notes 9.0 1987 100,000 98,844 U.S. Treasury Notes 9.00 1982 100,000 97,031 U.S. Treasury Notes 10.125 1981 100,000 99,094 U.S. Treasury Notes 10.75 1989 100,000 93,753 U.S. Treasury Notes 10.375 1985 100,000 97,203 U.S. Treasury Notes 10.5 1983 100,000 100,062 U.S. Treasury Notes 9.875 1983 100,000 97,000 U.S. Treasury Notes 11.125 1982 100,000 100,187 (Continued) 2 of 3 CITY OF LEESBURG, FLORIDA COMBINED SCHEDULE OF INVESTMENTS - ALL FUNDS SEPTEMBER 30, 1980 Schedule I-l INTEREST MATURITY PAR. BOOK DESCRIPTION RATES (%) DATES VALUE VALUE Retirement Plan For General Employees (Continued)
Federal Agency:
Federal Home Loan Bank 9.35 1985 -75,000 74,797 Federal National Mortgage 9.2 1986 75,000 73,863 Corporate Bonds:
J.P. Morgan & Company, Inc. 8.0 1986 50,000 46,500 Philip Morris, Inc. 8.5 1985 50,000 48 482
$ 1,276,900 $W4N J
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-(Concluded) 3 of 3 CITY OF LEESBURG, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES BUDGETEC AND ACTUAL FOR FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedule I-2 Variance Favorable Function / Activity /Sub Activity /0bject Budgeted Actual (Unfavorable)
General Government Services:
Legislative:
City Commission:
Personal Services $ 12,120 $ 12,120 $ Operating Expense 28,110 26,074 2,036 Total City Commission 40,2_30 38,194
~
2,036 Planning Board:
Operating Expenses 2,700 1,932 768 Total Legislative 42,930 40,126 2,804 Executive:
City Manager's Office:
Personal Services 39,840 39,836 4 Operating Expenses 19,310 18,299 1,011 Capital Outlay 500 954 ( 454)
Total City Mantger 59,650 59,089 561 City Clerk / Finance Director:
Personal Services 48,625 51,146 ( 2,521)
Operating Expenses 19,570 22,159 ( 2,589)
Capital Outlay 200 7,742 ( 7,542)
Total City Clerk / Finance Director 68,395 81,047 ( 12,652)
Total Executive 128,045 140,136 ( 12,091)
Finance and Administrative:
Accounting Office:
Personal Services 84,320 81,970 2,350 Operating Expenses 30,580 36,751 ( 6,171)
Capital Outlay 500 627 ( 127)
Total Accounting 115,400 119,348 ( 3,948)
Collections Office:
Personal Services 55,100 $5,870 ( 770)
Operating Expense 15,570 16,388 ( 818)
Capital Outlay 300 300 Total Total Collections 70,970 72,258 ( 1,288)
Data Processing:
Personal Services 56,950 58,747 ( 1,797)
Operating Expemes 81,410 85,579 ( 4,169)
Capital Outlay 1,000 676 324 Total Data Processing 139,360 145,002 ( 5,642)
Customer Service:
Personal Services 91,900 93,491 ( 1,591)
Operating Expenses 49,050 53,273 ( 4,223)
Capital Outlay 450 416 34 Total Customer Service 141,400 147,180 ( 5,780)
Purchasing Office:
Personal Services 24,663 9,570 15,093 Operating Expenses 12,097 13,712 ( 1,615)
Total Purchasing Office S 36,760 $ 23,282 $ 13,478 Schedule 1
( " ""*
CITY OF LEESBURG, FLORIO4 GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES BUDGETED AND ACTUAL FOR FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedule I-2 Variance Favorable
_ Function / Activity /Sub Activity /0bject Budget -Actual (Unfavorable)
General Government Services (continued):
Personriel Office:
Personal Services $ 31,733 $ 32,168 $( 435)
Operating Expenses 11,422' 9,308 2,114 Capital Outlay 905- 864 41 Total Personnel 44,060 42,340 1,720 Statistician:
Personal Services 17,370 17,356 .14
,0perating Expenses 3,710 3,690 20-Total Statistician 21,080 21,046 34 Total Finance and Administrative 569,930 570,456 (- 1,426)
Legal Counsel: .
City Attorney's Office:
Operating Expenses 24,330 21,836 2,494 Total. Legal Counsel 24,330 21,836 2,494 Planning Office:
Personal Services 26,570 27,102 ( 532)
Operating Expenses 12,340 11,812 528 Total Planning Office 38,910 38,914 ( 4)
Other General Gov't.
Warehouse Services:
Personal Services 29,765 41,729 ( 11,964)
Opera',ing Expenses 10,295 11,184 -389 Capital Outlay 242 242 Total Warehouse Service 40,060 '_53,155 13,
'rinting and Reproduction:
Personal Services 10,420 10,649 ( 229)
Operating Expenses 3,310 3,164 146 Total Printing and Reproduction 13,730 13,813 ( 83)
Support of Civic Organizations:
Operating Expenses 33,500 32,824 676 Total Support of Civic Organizations 33,500 32,824 676 Public Buildings:
Personal Services 47,980 50,831 ( 2,851)
Operating Expenses 38,550 40,209 ( 1,659)
Total Public Buildings 86,530 91,040 ( 4,510)
Switchboard:
Personal Services 9,750 9,747 3 Operating Expenses 12,940 12,959 ( 19)
Total Switchboard 22,690 22,706 ( 16)
Miscellaneous and Contingencies:
Operating Expenses 178,980 4,783 174,197 Total Miscellaneous & Contingencies 178,980 4,783 174,197 Totai Other General Government 375,490 218,321 157,169 Total General Government $1,178,735 $1,029,789 $ 148,946 Schedule 2 (Continued) 2 of 6 CITY OF LEESBURG GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES BUDGETED AND ACTUAL FOR FISCAL YEAR ENDED SEPTEMQER 30, 1980
~
Schedule I-2 Variance Favorable Function / Activity /Sub Activity /0bject Budgeted Actual (Unfavorable)
Public Safety:
Law Enforcement Police Department:
Personal Services $ 637,130 $ 622,522 $ 14,608 Operating Expenses 260,600 275,111 ( 14,511)
Capital Outlay 74,730 61,311 13,419 Total Police Department 972,460 958,944 13,516 Total Law Enforcement 972,460 958,944 13,516 Fire Department:
-Personal Services 403,250 396,233 7,017 Operating Expenses 148,260 147,435 825 Capital Outlay 4,500 2,971 1,529 Total Fire Department- 556,010 546,639 9,371 Detention and Correction:
City Jail:
Personal Services 18,700 18,899 ( 199)
Operating Expenses 22,970 25,804 ( 2,834)
Capital Outlay 1,450 1,450 Total City Jail 43,120 46,153 ( 3,033)
Total Detention and Correction 43,120 46,153 ( 3,033)
Protective Inspections:
Inspections Office:
Personal Services 38,680 37,823 857 Operating Expenses 16,140 16,575 ( 435)
Capital Outlay 5,150 5,203 ( 53)
Total Inspections Office 59,970 59,601 369 Total Public Safety $1,631,560 $1,611,337 $ 20,223 Physical Environment.
Engineering:
Personal Services 71,680 66,923 4,757 Operating Expenses 21,190 22,462 ( 1,272)
Total Engineering 92,870 89,385 3,485 Cemeteries:
Personal Services 350 297 53 Operating Expenses 1,860 1,354 506 Total Cemeteries 2,210 1,651 559 Street Cleaning:
Personal Services 10,510 9,470 1,040 Operating Expenses 7,310 13,526 ( 6,216)
Total Street Cleaning 17,820 22,996 ( 5,176)
Storm Damage:
Personal Services 480 4,067 ( 3,587)
Operating Expenses 870 3,139 ( 2,269)
Total Storm Damage 1,350 7,206 ( 5,856f Public Works Jobbing:
Personal Services 36,200 42,241 ( 6,041)
Operating Expenses 16,180 15,144 1,036 Total Public Works Jobbing 52,380 57,385 ( 5,005)
Schedule 2 (Continued) 3 of 6
CITY OF LEESBURG, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES BJDGETED AND ACTUAL FOR FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedule I-2 Variance Favorable Function / Activity /Sub Activity /0bject Budgeted Actual (Unfavorable)
Physical Environment (continued):
Public Works Office:
Personal Services $ 30,700 $ 32,173 $( 1,473)
Operating Expenses 18,340 23,132 ( 4,792)
Capital Outlay 880 864 16 Tott.i Public Works Office 49,920 56,169~ ( 6,249)
Total Physical Environment 216,550 234,792 ( 18,242)
Transpor ation:
Roads and Streets:
Street Maintenance:
Personal Services 30,580- 25,040 5,540 Operating Expenses 67,580 78,075 ( 10,495)
Capital Outlay 1,469 ( 1,469)
Total Street Maintenaace $ 98,160 104,584 ( 6,424)
Storm Drainage:
Personal Services 14,620 14,988 ( 368)
Operating Expenses 10,500 3,123 7,377 Total Storm Drainage 25,120 18,111 7,009 Street Lighting:
Personal Services 9,000 8,916 84 Operating Expenses 65,200 73,396 ( 8,196)
Capital Outlay 800 800 Total Street Lighting 75,000 83,112 ( 8,112)
Traffic Control:
Personal Services 9,930 10,113 ( 183)
Operating Expenses 9,200 7,094 2,106 Capital Outlay 35,160 25,019 10,141 Total Traffic Control 54,290 42,226= 12,064 Total Roads and Streets 252,570 248,033 4,537 Airports:
Airport Maintenance:
Personal Services 11,530 12,814 ( 1,284)
Operating Expenses 26,290 22,426 3,864 Capital Outlay 9,780 10,062 ( 282)
Total Airport Maintenance 47,600 45,302 2,298 Total Transportation 300,170 293,335 6,835 Economic Environment:
Leesburg Redevelopm mt Agency:
Personal Services 31,605 32,783 ( 1,178)
Operating Expenses 36,575 33,646 2,929 Capital Outlay 1,200 222 978 Total Leesburg. Redevelopment Agency 69,380 66,651 2,729 Total Economic Environment 69,380 66,651 2,729 Schedule 2 (Continued) 4 of 6 CITY OF LEESBURG, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES BUDGETED AND ACTUAL FOR FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedule I-2 Variance Favorable Function / Activity /Sub Activity /0bject Budgeted Actual (Unfavorable)
Human Services:
Health:
Meals-on-Wheels:
Operating Expenses $ 4,250 $ 4,212 $ 38 Total Meals-on-Wheels 4,250 4,212 38^
Animal Control:
Personal Services 8,030 8,036 ( 6)
Operating Expenses 8,280 7,602 678 Total Animal Control 16,310 15,638 672 Total Health 20,560 19,850 710 Total Human Services 20,560 19,850 710 Culture and Recreation:
Libraries:
Main Library:
Personal Services 100,525 105,452 ( 4,927)
Operatang Expenses 35,180 39,786 ( 4,606)
Capital Outlay 37,475 43,537 ( 6,062)
Total Library 173,180 188,775 ( 15,595)
Branch Library:
Personal Services 1,167 ( 1,167)
Operating Expuises 5,585 ( 5,585)
Capital Outlay 13,322 ( 13,322)
Total Branch Library _0 _ 20,074 ( 20,074)
Total Librarios 173,180 _208,849 ( 35,669)
Parks and Recreation:
Recreation Office:
Personal Services 65,105 70,416 ( 5,311)
Operating Expenses 124,625 136,380 ( 11,755)
Capital Outlay 500 174 326 Total Recreation Office 190,230 _206,970 ( 16,740)
Swimming Pools:
Personal Services 20,000 17,824 2,176 Operating Expenses 65,825 69,184 ( 3,359)
Capital Outlay 13,235 13,941 ( 706)
Total Swimming Pool 99,060 100,949 ( 1,889)
Parks and Canals:
Personal Services 156,010 165,276 ( 9,266)
Operating Expenses 92,920 115,373 ( 22,453)
Capital Outlay 6,015 4,354 1,661 Total Parks and Canals 254,945 285,003 ( 30,058)
Athletic Fields:
Personal Services 14,620 15,706 ( 1,086)
Operating Expenses 10,470 10,292 178 Capital Outlay 17,000 15,442 1,558 Total Athletic Fields 42,090 41,440 650 Total Parks and Recreation 586,325 634,362 ( 48,037)
Schedule 2 (Continued) 5 of 6 i
CITY OF LEESBURG, FLORIDA GENERAL FUND SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES BUDGETED AND ACTUAL FOR FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedule I-2 Variance Favorable Function / Activity /Sub Activity / Object Budgeted Actual (Unfavorable)
Culture and Recreation (continued)
Cultural Services:
Cultural Arts Building:
Operating Expenses $ 2,990 $ 2,400 $ 590 Capital Outlay 675 675 Total Cultural Services 3,665 3,075 590 Special Recreational Facilities Marina:
Personal Services 1,400 1,250 150 Operating Expenses 4,700 6,538 ( 1,838)
Total Marina 6,100 7,788 ( 1,688)
Community Building:
Personal Services 35,440 37,208 ( 1,768)
Operating Expenses 23,135 26,211 ( 3,076)
Total Community Building 58,575 63,419 ( 4,844_1 Total Special Rec. Facilities 64,675 71,207 ( 6,532)
Total Cditure and Recreatio.1 827,845 917,493 ( 89,648)
Total Expenditures $4,244,800 54,173,247 $ 71,553 Other Financing Uses:
Operating Transfers Out:
Debt Service Fund 116,650 60,120 56,530 Airport Capital Projects Fund 3.800 1,375 2,425 Ambulance Fund 6,400 6,400 Motor Pool Fund 17,900 17,900 Sanitation Services Fund 60,310 60,310 Total Other Financing Uses 205,060 61,495 143,565 Total Expenditures and Other Financing Uses $4,449,860 $4,234,742 $ 215,118 l
l l
Schedule 2 (Concluded) 6 of 6 L----_---_______________________________________________
CITY OF LEESBURG, FLORIDA SUpmARY SCHEDULE OF UTILITY PLANT IN SERVICE - COPSINED UTILITY FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedale I-3 ASSETS ACCUMLATED DEPRECIATION DEPRECI-BALANCE RECLASSI- BALANCE BALANCE ATION RECLASSI- BALANCE 10/1/79 ADDITIONS DISPOSALS FICATION- 9/30/80 10/1/79 EXPENSE DISPOSALS FICATION 9/30/80
' Electric Plant l Land $ 6,600 $ 6,600 Buildings 648,583 648,583 $ 97.320 $ 12,137 $ 109,457 Improvements Other than Buildings 12,502,040 770,612 13.272,652 3.243,024 482,448 3,725.472 Airport Substation Con-struction in Progress 737.570 737,570 .
Machinery and Equipment 672,035 25,896 (126,630) ( 45,263) 526.038 308,859 48 416 (108,976) f 19,296) 229,003 Total Electric Plant 13,822,658 1,540,678 (126,630) L45,263) 15,191.443 3,649,203 , I (108,976) L 19,296) 4,063,932 Gas Plant l and 16.050 16,050 i Buildings 12,704 12,704 254 254 508 l, Improvements Other than .
l , Buildings 1,572,209 33,804 1,606.013 650,622 44,024. 694,646
! . Machinery and Equipment 147,372 '10,248 L14,540) 143,080 61,973 9,759 L 531) 71.201 5"
Total Gas Plant 1,748,335 44,052 L 14,540) 1,777,847 712,849 54,037 L 531) .
766,355 I
l Water Plant l Land 32,245 32,245 Buildings 106,297 i
~
l 106,297 8,654 3,786 12.440 l Improvements other than Euildings 3,459,336 98.681 3,558,017 870,309 52,072 .922,381 j Machinery and Equipment 91,727 7,989 45,263 144,979 '43,356 9.750' 19 296 72,402 Total Water Plant 3,689,605 106,670 45,263 3,841,538 922,319 65,608 , 1,007,223 Sanitary Sewer and Eastewater Treatment Plant Land 974,047 974,047 i Buildings 26.417 '26,417 7,289 '
1,884 - 9 ,1 73 201 Plant Construction in Progress 3,475,261 4,743,518 8.218,779 Improvements other than Buildings 2.491,034 36,972 2,528.056 622,199 35,171 657.370 Machinery and Equipment 156,227 6,050 ( 33,909) 128,368 105,927 14,858 ( 30,490) 90,295 Total Wastewater Treatment Plant 7.123,036 4,786,540 ( 33,909) 11,875,667 735,415 51,913 ( 30,490) 756,838 COMBINED UTILITY FU* 7TAL $26,383,634 $6,477,940 $(175,079), $ '$32,686,495 $6,019,786 $ 714,559 $(139,997) $ $6,594.348
. Schedule 3 l
, _ - - . . .. _ _ _ _ _ . _ . . --.-m . _ . - -s. ._..__m . . _.. _ -._. __. _ - - _.. . _ - ,-, .-- _ .m_. _ ._ . . -
CITY OF LEESBURG, FLORIDA SCHEDULE OF UTILITY PLANT IN SERVICE ELECTRIC UTILITY FUND FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedule 1-4 ASSETS ACCUMLATED DEPRECIATION DEPRECI-8ALANCE RECLASSI- BALANCE BALANCE ATION RECLASSI- 8ALANCE 10/1/79 ADDITIONS DISPOSALS FICATION 9/30/80 10/1/79 EXPENSE DISPOSALS FICATION 9/30/80
$ 6,600 $ 6,600 Land Buildings: 454,987 87,401 $ 8,265 $ 95,666
$ 454,987 $
Warehouse 10,923 145,801 145,801 8,007 2.916 General Plant 33,295 1,332 666 1,998 City Hall 33,295 f 14,500 14,500 580 290 870-Repair Shop Transfomer 12,137 -0 W 57 Total-Bu11 dings 5 648,582, 648.583 97.320 Improvements Other Than Buildings: 444,279 74,047 170,037 Nuclear Fuel 232,577 211,702 95.990 4,735,971 473,428 170,153 643,581 Crystal River 3 toclear Plant 4.716,945 19.026 >
Overhead Conductors 5.238,749 '1,002,898 153,500
.and Devices 4,933,897 304,852 1,956.398 Underground Cond;ctors 2,103 3,450 5,553 and Devices 24,137 90,979 115.116 59,506 1,554,113 502,809 45,731 548,540 m Line Transfomers 1,494,607 113,089 113,089 2.796 3,393 6.189
.- Distribution Plant Airport Substation Con-struction in Progress .737.570 737,570 49,351 512,481 173,920 15,375 189,295 Electric Meters 463.136 557,193 187,425 16,800 204,225 Street Lights' and Signals 521,997 35,196 1,655 1,655 1,655 1,655 Rental Lights -
Total-Improvements Other 12,502,040 1,508,182 14.010.222 3.243,024 482,449 . 3.725dZ1 Than Buildings.
Machinery and Equfy it : 51,488 12,411 2,574 14,985 Plant and Test Equipment 45,584 5,904 l
43,332 7,487 50,819 3,026 2,541 5,%7 l- Tools and Work Equipment 19,641 122,509 122,509 13,515 6,126 i I Office Equipment ' 279,907 37,175 f 108.976) ( 19.2%) 188,810 Vehicles 460,610 12,505 ( 126,630) ( 45,263) 301,222-Total-Machinery and 308,359 48,416 . ( 108,976) ( 19,2%) 229,003 Equipment 672,035 25.8 % ( 126,630) ( 45,263) 526,038 i
l Total Electric Plant $13,822,658 $ 1,540,678 $( 126,630) ( 45,263]$15,191,443 $3,649,203 $ 543,002 $( 108.976) $( 19.2%)$ 4.063.933 _
Schedule 4 i
l CITY OF LEESBURG, FLORIDA
SUMMARY
SCHEDULE OF UTILITY PLANT GAS UTILITY FUND FISCAL YEAR ENDEO SEPTEMBEP. 30, 1980 Schedule I-5 1
! ASSETS ACCUM 3TED DErRECIATION
, DEPRECI-BALANCE RECLASSI- BALANCE BALANCE ATION RECLASSI- BALANCE l 10/1/79 ADDITIONS DISPOSALS FICATION 9/30/80 10/1/79 EXPENSE DISPOSALS FICATION 9/30/80 Land S 16,050 $ $ $ $ 16,050 $ $ $ $ $
Buildings:
City Hall Total - Buildings 1z,704 12,704 254 254 5tqs A
. Improvements Other Than' Buildings:
Natural Gas System 1.353,640 23,547 1,377,187 608,955 37,872 646,827 l
i Gate Station 46,429 46,429 10,003 1,277 11.280 Gas Meters 172,140 -10,257 182.397 31,664 4,875 36,539 Total - Improvements ,
Other Than Buildings 1,572,209 33,804 1,606,013 650,622 44,024 694,646 Machinery and Equipment System Equipment 35,057 35,057 21,660 1,751 23,411 Tools and Shop Equipment 18,290 10,248 28,538 2,147 1,171 3,318 Office Equipment 23,461 23,461 3.129 1,173 4.302 Vehicles 70,564 ( 2,277). (12,263) 56,024 35,037 5,664 531 40,170 Total - Machinery and Equipment 147,372 10,248 ( 2,277) (12,263) 143,080 61,973 9,759 531 71,201 Total Gas Plant $ 1.748,335 $ 44,052 $( 2,277)- $(12,263) $1.777,847. $ 712.849 $54,037 $ 531 $ $ 766,355 Schedule 5 ,,
,,,e-s I
]
l l
CITY OF LEESBURG, FLORIDA SCHEDULE OF UTILITY PLANT IN SERVICE WATER UTILITY FUND FISCAL YEAR ENDED SEPTEMBER 30,_1980 Schedule 1-6 ASSETS ACCUMLATED DEPRECIATION DEPRECI-BALANCE RECLASSI- BALANCE BALANCE ATION RECLASSI- BALANCE 10/1/79 AD0!TIONS DISPOSALS FICATION- 9/30/80 10/1/79 EXPENSE DISPOSALS FICATION 9/30/80-Land $ 32,245 $ 32,245 $ $ $ $ $
Bolldings:
Pumping Plant 49,180 49,180 1,614 984 2,598 t'arehouse - Water 22,618 22,618 2.827 1,131 3,958' l Warehouse - Improvement 32,699 32,699- 4,087 1,635 5.722 City Hall 1,800 1,800 126 36 162 Total - Buildings 106.297 106.297 8,654 3,786 12.440
., Improvements Other Than
.. Buildings: ,
m Cater Works 1,397.399 56,156 1.453,555- 443,5 % '28,509 472.105 21.044 1,097 421 1,518-
- dater Distribution 21.044
-11,693-Fire Hydrants 44,029 44,029 10,812 881 l i
Water Mains and Potable l
l uater Wells 1,788,884 42,525 1,831,409 330,194 18,101 ~348.295 l
! E l and Spring Pumps 207,980 207,980 84,610 4,160 38,770 l
'otal - Improvements 870,309 922,381 Other than Buildings 3,459,336 98,681 3,558,017 52,072 . _ _
j
~
Machinery a'nd Equipment: .
i 17,397 3,019 20,416 14.027 945 14,972 ,
l System Equipment 5,627 Tools and Shop Equipment 37,612 4,970 42,582 3.022 2,005 l 12,163 12,163 1,152 608 1,760 Office Equipment . 19,296 . 50,043 24,555 45,263 69,818 24,555 6,192 Vehicles .
Total-Machinery and Equipment 91,727 7,989 45,263 144,979- 43,356 9,750 19,296 72,402 l
i Total Water Plant $3,689,605 $ 106,670 $' $ 45,263 $3,841,538 $ 922,319 $ 65,608 $ $ 19,2% $1,007.223 Schedule 6
.l j
CITY OF LEESBURG, FLORICA SCHEDULE OF UTIL1TY PLANT IN SERVfCE SANITARY SEWER AND WASTEWATrR TREATMENT FUND FISCAL YEAR ENDEU SEPTEMBER 30, 1980 SC # dI' I*I ASSETS ACCLMLATE0 OEPRECIATION DEPRECI-BALANCE RECLASSI. BALANCE BALANCE ATION RECLASSI- BALAtCE t
10/1/79 ADDITIONS DISPOSALS FICATION 9/30/80 10/1/79 EXPENSE DISPOSALS F! CATION 9/30/80 Land:
Land Sewer System $ 4.573 $ $ $ $ 4.573 $ $ $ $ $
Yreatment Plant 45.258 45.258 201 farm 924,216 924,216 Total Land 974,047 97s,047 i
Buildings:
- Vruck Shed 7,668 7,668 383 154 City Hall 537 4.499 4.499 1,206 306 1,512
, Treatment Plant 7,625 7,625 3,050 762 3 ,812 l Office 2.310 2.310 924 231 1,155 Lat 4,315 4,315 1,726 431 2,1 57 total Buf1 dings 26,417 l
26,417 7,289 7 9,173 cn
[ Improvements Other Than Buildings:
Sewer lines and Manhcles 1,483,649 36,972 1,520,621 325,971 15.022 340,993 201 Plant-Construction in Progress 3.475,261 4,743,518 8,218,779 Disposal Expansion Plant 1,007.435 1,007,435 __2%,228 20 149 316,377 Total Improvements 5,966,345 4.780,490 10,746,835 622.199 .
f 7.370 l
Machinery and Equiperent:
System Equipment 82,501 8?,501 49,215 8.977 Office Equipment 58,192 14,125 14,125 9,464 282 Ve*itcles 59,601 6,050 ( 33,909) 31,742 9.746 l 47,248 5,599 (30,490) 22,357 Tctal Machinery and Equipment 156,227 6,050 ( 33,909) 128,368 105,927 ( 30,490) 14,858_ 90.295 l Total Sanitary Sewer and t'asterwater Treatraent Fund $ 7,123.036 $4,786,540 $( 33,909) $11,875,667 $ 735,415 $ 51,913 $( 30,490) $756.838 Schedule 7 1
1L CITY OF LEESBURG, FLORIDA SCHEDULE OF SOLID WASTE EQUIPMENT SANITAT.1 SERVICES FUND i
FISCAL YEAR END SEPTEMBER 30, 1980 Schedule I -
ASSETS ACCUMl' LATED DEPRECIATION -
DEPRECIA- ,
BALANCE DIS- BALANCE BALANCE TION DIS- BALANCE 10/01/79 ADDITIONS P0SALS 9/30/79 10/1/79 EXPENSE POSALS 9/30/80 MACHINERY AND EQUIPMENT g Landfill Equipment $ 33,435 $ 33,264 $( 200) $ 66,499 $ 27,548 $ 5,504 $( 200) $ 32,852.
Trucks and Other Vehicles 235,911 37,473 (24,101) 249,283 94,686 31,595 (24,101) 102,180 ;
Total Solid Waste Machinery and Equipment $ 269,346 $ 70,737 $(24,301) $315,782 $ 122,234- $ 37,099 $(24,301) $135,032 Schedule 8
)
i
l L
! CITY OF LEESBURG, FLORIDA ,
l SCHEDULE OF PROPERTY AND EQUIPMENT AMBULANCE FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1980 Schedule I-9 i
ASSETS ACCUMLATED DEPRECIATION DEPRECI-BALANCE RECLASSI. BALANCE BALANCE ATION RECLASSI- BALANCE 10/1/79 ADDITIONS DISPOSALS FICATION 9/30/80 10/1/79 EXPENSE DISPOSALS FICATION 9/30/80
, Buildings:
l Griffin Read Building $ 42,958 $ $ $ $ 42,958 $ 5,190 $ 1,074 $ $ $ 6,264 Fire Station 36,377 36,377 6.669 910 7.579 Ambularece Bay 13,986 13,986 2 425 330 2 Total - Buildings 93,321 93,321 , ~T,3TT 16,755598 l
- l 3 Machinery and Equipment:
Equipment Funded by EMS Grants 52.484 805 53,289 7,803 4.054 Other Equipment 6,105 11.B57 6,105 4,848 2,937 7,785 Total-Machinery and ,
l Equipment 58,589 805 59,394 12,651 6.991 19,642 Vehicles: . - -
Vehicles Funded by EMS Grants 66,743 ( 15,733) 51,010 42,229 10,219 -(13,985) 38,'634 Other Vehicles 14,453 14,453: 14 1 14,453 Total-Vehicles 81,1 % ( 15.733) 65.463 - N,452' TD TM ( i3,9ss) sz,,is
~
y; Total Ambulance Fund $ 233,106 .$ 805 $( 15.733) S'218,178 $83,616 $ 19,525 $( 13,985). $[
$ 89 hs
',f **
- y ." G l
7, _
l .:
I l
Schedule 9 - f l
l ..
'E CITY OF LEESBURG, FLORIDA UTILITY RATES SCHEDULE SEPTEMBER 30, 1980 Schedule I-10 i
Schedule of rates, fees and charges of the system and number of customers
. in each class of service as of September 30. 1980.
The following schedules are provided'for compliance with Section 15 Covenants of the Iss'uer (item J) of the Refunding and Capital. Improvement Utilities Revenue Bonds, Series 19/7 Bond Resolution.
- ELECIRIC RAIE SCHEDULE -
Residentia l Service Charge .$ 3.00 First 50 KWH $0.0585 per KWH Over 60 KWH $0.0405 per KWH Minimum $ 3.00
, Deposit $ 50.00 Cut-on Charge - When cut off for non-payment of biil $ 10.00 Number of Residential Electric Customers 9/30/80 15,051 General Service-Non Demand Service Charge -5 6.00 First 100 KWH $0.1585 per KWH Next u,000 KWH .$0.0475 per KWH Over 8,100 KWH 50.0375 per KWH +
, Minimum $6.00 + $1.50 per KW connected Demand Estimated bill for two months' service Deposit:
j Cut-on Charge - When cut off for non-payment of bill $ 10.00 Numoer of General dervice-Non Demand customers 9/30/80 2,032 General Service Demand dervice Charge $ 26.00 Demand $10.2606 per KWH First 10,000 KWH $ 0.0590 per KWH Next 50,000 KWH $ 0.0345 per KWH Next 490,000 KWH $ 0.02b5 per KWH-Over 550,000 KWH $ 0.0245 per KWH Minimum $25.00 + $1.50 per KW of maximum demand for preceding 12 months.
l Power Factor correction if customer's power factor drops below 90%.
Number of General Service-Demand customers 9/30/80. 15 4 .
Schedule 10
- (Continued) 1 of 4 l __ _ _ - _ .. ._ __ , _ _ _ _ - _ _ _ - . . _ __ _
UTILITY RATE SCHEDULE (CONTINUED) Schedule I-10 BULK POWER COST ADJUSTMENT In addition, all of the foregoing rates, except the flat rate, shall be ad-Justed by one at the following:
(1) Bulk power cost adjustment-Nondemand (BPCAnd) times the kwh Dilled to the customer will be applied as a credit or charge to each customer not on a demand metering basis for billing purposes.
The bulk power cost adjustment per kwh to be used for billing to nondemand customers in any given month is computed by:
Total Power Cost Base Power Cost Total kwn Billed minus kwn Billed where: Total power cost equals tne total of the demand, energy and fuel acjustment charges billed by Florida Power Corporation for other than tne City's snare of crystal River Nuclear Unit No. 3 plus the fix-ed operating charges for this share; as billed or accrued in the second month prior to the given month.
Total kwh billed equais the total billed by the city of Leesburg to its customers during the second month prior to the given month.
The Base Power cost Billea is $0.030576 kwn This value is composed of two (2) components, as follows:
Demand component: $0.008016/kwh Uther Cost component: $0.022560/kwh
$0.030576/kwh (2) Bulk power cost adjustment-Demand (BPCAnd) times the kwh billed to the customer will be applied as a credit or charge to each customer on a demand metering basis for billing purposes.
Tne bulk power cost adjustment for demand customers, per kwh, is computed by:
kw revenue from second month prior to month for which credit Is being computed minus $0.017573 +
(BPCAnd; $0.00798 Kwh billed by Leesburg to its demand customers in second month prior to month for which credit is being computed.
Schedule 10 (Continued) 2 of 4
CITY OF LEESBURG, FLORIDA UTILITY RATE SCHEDULE -
SEPTEM8ER 30,1980 Schedule I-10 Schedule of rates, fees, and charges of the system and number of customers in each class of service as of September 30, 1980.
_ (Continueo)
WATER RALE SLHEDULE Water Service - All Customers First 600 cubic feet or less $ 4.00 All 'over 600 cubic feet Per 100 cubic teet $ 0.35 Minimum bill per month $ 4.00 Deposit .
$ 20.00 Cut-on Charge - When cut off for nonpayment of bili
$ 10.00 Number of Water Customers 5,500 GAS RALE SCHEDULE Residential Service Charge $ 2.50 First 20 therms $ 0.45059 Next 30 therms 5 0.42059 Over 50 therms $ U.38059 Minimum $ 2.50 Deposi t $ 20.00 Cut-on Charge - When cut oft for nonpayment of bill $ 10.00 Number of Residential Gas Customers 9/30/80 4,325.
Heating Only Service Charge $ 2.75 First 20 therms $ 0.50059 Next 30 therms 5 0.47059 Over 50 therms $ 0.42059 Minimum $ 2.75 Deposit $ 20.00 Cut-on Charge - When cut off for nonpayment of bill $ 10.00 Number of Heating Only Gas Customers 9/30/80 325 Schedule 10 (Continued) 3 of 4
CITY OF LEESBURG, FLORIDA UTILITY RATE SCHEDULE SEPTEMBER 30, 1980 Schedule I-10 Schedule of rates, fees, and charges of the system and number of customers in each class of service as of September 30, 1980.
GAS RAIE SCHEDULE (Continued)
Public Buildings, Larger Connercial and Small Industrial Service Charge $ 6.00 First 50 therms 5 0.42059 Next 150 therms 5 0.41059 Over 200 therms 5 0.36059 Minimum 5 16.00 Cut-on Charge - When cut off for nonpayment of bill $ 10.00 Deposit $ 20.00 Number of Small Industrial Gas Customers 9/30/80 422 Interruptible Ihe rate shall be as fixed from time to time by motion by the City Commission, or by contract between the City and its interruptible rate consumer, negotiated by the City Manager, with the appioval of the City Commission. Under this rate the City shall have the right to terminate the service at any time without notice.
Minimum $ 50.03 Deposit $ 50.00 Cut-on Cnarge - When cut off for nonpayment of bill $ 10.00 Number of Interruptible Gas Customers 9/30/80 2 GAS RATE ADJUSTMENT The rates set forth herein shall be automatically adjusted by the City Clerk / Finance Director for gas price increases effective subsequent to July 31,1978, which gas price increases are charged to the City by its supplier. This increase in rates to the customer shall be the exact same increase pe. therm that is cnarged the City by its supplier.
Schedule 10 (Concluded ) 4 of 4
SCHEDULE OF INSURANCE IN FORCE i AS OF SEPTEMBER 30 0 1980 l CITY OF LEESBURG, FLORIDA j
Schedule I-11 l
! Type of Coverage Policy Policy Period Details of Coverage Liabili ty Annual l Name of Company Number From -
To Limits Premiur l
Commercial CXS 1 80 Insures the City for all sums Umbrella 66L 10 80 legally obligated to pay as Northeastern Fire 1174 damages in excess of the limits Insurance Co. under Workmen's Compensation policy, General Liability policy, Police- and Ambulance Liability policies. 51.000,000 $14,76D Public Of ficials 7909 Insures the City for all sums Liability Ins. 0360 UM 10-1-79 legally obligated to pay as
- Van Guard 10-1-80 damages under Public Officials
$1,000,000 -3,200 l Underwriters Liability. policy.
Police P-7909 10-1-/9 Insures the City for all sums $1,000,000 Professional 00/6 UM 1-80. legally obligated to pay as $250,000 o Liability Ins. damages under Police Profess- Personal Injury Unimark-Mcdonald ional Liability policy. $500,000 All other 7,682..
All risks to water tanks, pipes $322,000 1,825 All Risks M140 10-1-79 l 3 Water Tanks 5743 10-1-80 and Conmunication Tower.
Reliance-Fire Insurance FF259 10-1-79 Insures the City against fire, (Building & 1499 10-1-80 E. C. and V. and M. M., of direct Contents) physical loss or damage to build-Reliance ings and contents- at locations per statement of values. Blanket cover-age of all real and personal property on a replacement-cost basis. $3,738,900 11,353 i
- Boat, Motor & SP-32 1-1-80 All risks $2,125 70 l
Trailer /121- 1-1-81 U.S.F.&G.
Schedule 11-(Continued) 1 of 3
SCHEDULE OF INSURANCE IN FORCE I AS OF SEPTEMBER 30, 1980 CITY OF LEESBURG, FLORIDA Schedule I-ll T
Type of Coverage Policy Policy Period Details of Coverage Liabili ty Annual Name of Conpany Number From_ -
To Limits Premium Boiler & 1824 9-19-79 Insures the City against the cost Various
, Machinery 4111 10-1-80 of direct losses or of investigat- limits Great Northern ing, defending and paying property per damage claims arising out of accidents equipment involving the various boilers, press- schedule ure vessels, pumps, motors, and elec-trical apparatus. $3,995 Mural MPA27 1-6-80 All risks $5,000 50 Communi ty Bldg. 42324 1-6-81 Fi reman's Fund Ins. Co.
. , Bona City Clerk 21085 1-1-80 City Clerk-Auditor-Treasurer
. s, U.S.F.&G. 172275/ l-1-81 bond. $30,000 210 m
- s Money & MSP16 1-1 Loss inside premises and loss $6,000 Securities 3751 1-1-81 outside premises, each 213 i
U.S.F.&G.
Public Employees 21085- 1-1-80 Blanket public employees bond. $25,000 1,337:
Blanket Bond 08-191- 1-1-81 U.S. F. &G. A57 Schedule 11 (Cor.tinued) 2 Of 3
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SCHEDULE OF INSURANCE IN FORCE AS OF SEPTEMBER 30, 1980 CITY UF LEESBURG, FLORIDA
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Type of Coverage Policy Policy Period Details of Coverage Liability Annual Name of Company Number From -
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Limits Premium Workmen's insures the City against ob-Compensation 2793950 10-1-/9 ligations imposed by Workmen's U.S.F.&G. 059568 10-1-80 Compensation Law of Florida and includes employer's liability of $100,000. $142,860 Comprehensive Insures the City against the $500,000 Automobile cost of investigating, defending, combined Liability and paying claims for bodily in- single U.S.F.&G- BAP 18 10-1-79 jury and property damage caused limit 2510 10-1-60 by occurrence for which the City may be legally liable and arising out of the ownership, maintenance or use of any nwned, hired or non owned vehic'- 34,531 Comprehensive General ICC Insures the City against the cost Bodily injury Liability B61958 10-1-79 of investigating, defending, and $500,000 U.S.F.&G. 10-1-80 paying claims for bodily injury, occurrence property damage and personal in- $500,000 i jury arising out of products, aggregate u operations, contracts and occur- Property damage rences for which the City may be $100,000 occurrence
' $200,000 aggregate 42,429 legally liable.
Ambulance GA 630 5-15-80 Insures the City for all sums Liability 791 10-01-80 1c elly obligated to pay as Puritan da. ages under Ambulance Liability policy. 991 Schedule 11 (Continued) 3 of 2
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, STATISTICAL TABLES S i
Statistical tables differ from financial. statements _because they cover more than two fiscal _ years and present nonaccounting data.~
The statement tables reflect social and economic data, financial trends, and the fiscal capacity of the City.
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CITY OF LEESBURG, FLORIDA t
GENERAL GOVERNMENTAL EXPEN0lTURES 8Y FUNCTION-LAST TEN FISCAL YEARS TABLE 1 Fiscal General Public Physical Transpor- Economic Human Culture & Debt-ta tion Services Recreation Se; vice . Total -
Y;or Government Safety Environment Environment Other-1971 $237,e,99 $602,517 $264,124 $204,279 $ $ 6,860 $308,035 $ 9,740 -$148,093 $1,783,755 1972 203,053 741,114~ 231,213 214,508 9,?68 370,173 6,841 185,157 1, % 2,634 :
1973 245,828 506,722 195.405 193,220 10,575 292,523 66,701 194,856 1,707,843 1974 241,311 783,519 436,493 270,501 15,035 451,188 56,062 271,391 2,525,500 1975 497,426 949,662 460,583 346,972 21,064 516,913 63,646 334,110 3,190,376-l.
3,476,390 1976 627,215 996,317 519,079 325,931 55,646 17,883 465,266 60,162 408,891 3,761,592.
1977 633,314 1,111,987 410,816 335,952 20,403 21,243 531,743 61,939 634,195 1978 741,695 1,160,341 542,150 400,440 79,539 23,202 671,839 47,550 638,792- 4,305,548 1979 1,020,925 1,430,900 234,784 279,871 573,777 117,119 813,732 48,044 33,295 4,582,447 1980 1,030,852 1.611,337 234,792 293,335 607,894- 175,347 928,781 45,254 127,236 5,054,828 1
(1) In 1979 and 1980 fringe benefits and insurance costs are accounted for under relative function not under "Other".
-(2) In 1979 and 1980 Ambulance Services and Refuse and Garbage are shown in enterprise funds, i,
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CfTY OF LEESBURG, FLORIDA GENERAL REVENUES BY SOURCE LMT TEN FISCAL YEARS TABLE 2 Licenses Inter- Charges Fines Miscel-Fiscal 1 and governmental for and laneous 5 Year Taxes Permits Revenue Services 2 Forfeits 3
and Other 4 Trancfore Total 1971 $318,155 $44,530 $ 21,854 $185,836 $ 84,483 $ 28,456 $1,121,368 $1,804,682 1972 332,852 56,413 223,449 240,844 74,493 65,888 1,097,489 2.,091,428 1973 67,774 41,200 415,023 222,621 87,772 34,771 669,781 1,538,942 1974 352,151 48,096 555,309 325,038 98,582 62,668 1,063,417 2,505,261 1975 366,706 53,540 681,096 456,224 107,357 338,364 1,146,756 3,150,043 1976 404,656 52,838 871,971 526,669 126,918 287,830 1,495,365 3,765,797 1977 458,762 71,551 896,191 547,456 85,754 328,693 1,654,539 4,042,946
$ 1978 492,397 62,343 926,157 637,003 88,335 385,722 1,572,230 4,164,187 e
1979 509,023 76,778 1,444,433 92,636 89,939 479,897 1,967,995 4,660,701 1980 545,845 76,647 1,485,492 122,714 102,552 848,678 - 1,953,350 5,135,278 1 During 1971 tax collections were deposited to a seperate fund. Therefore General Fund taxes in this table vary from the tax collections table. -
2 In 1979 and 1980 the Ambulance and Rescue and Refuse and Garbage revenues are shown instcrprise funds.
3 In Fiscal 1977 the municipal court function was consolidated with the County system and is reflected in the decline in court revenues.
4 In Fiscal 1975 accounting, billing, meter reading and data processing, formerly charged directly to the Utilities fund, are shown as General Fund expenditures with an offsetting reimbursement revenue from Ge' Utilities Fund.
5 Includes transfers from special revenue and enterprise funds.
CITY OF LEESBURG, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS TABLE 3 __
- Outstanding Total Deliquent Collections Taxes as Total Current Per Cent Deliquent Total as Per Cent Outstanding Per Cent of Fiscal Tax Tax of Levy 4 Tax Tax of Ccrrent Deliquent Current Year Levy Collections Collected Collections Collections Levy Taxes 2 Levy 3 1971 $299,284 $298,918 99.9 $5,288 $304,206 101.6 - -
1972 310,832 309,328 99.5 - 309,328 99.5 - -
19731 - 60,367 - - 60,367 - -
1974 343,115 3n ,534 96.9 32 332,566 96.9 - -
1975 368,178 354,069 96.2 202 354,271 96.2 - -
1976 403,541 390,744 96.8 310 391.054 96.9 - -
3 1977 451,956 436,774 96.6 97 436,871 96.7 - -
i 1978 483,315 467,852 96.8 - 467,852 96.8 - -
1979 493,:,98 475,514 96.3 649 475,803 96.4 - -
1980 518,141 513,210 99.0 1,371 514,581 99.3 1 The City adopted a September 30 fiscal year end as of September 30, 1973. Fiscal year 1973 represents nine months from January 1 to September 30. Previous fiscal years were calendar years.
2 Information not available from Lake County.
3 Information not available from Lake County.
4 S. 197.012 of Florida Statutes allow a discount for early payment of 4% in November, 3% in December, 2% in January and 1% in February.
CITY OF LEESBURG, FLORIDA 3
ASSESSED VALUE OF EXEMPT AND TAXABLE PROPERTY LAST TEN FISCAL YEARS TABLE 4 Exempt Total Fiscal 2 Assessed Taxable Assessed Valuation '. Assessed Year Valuation Real Personal Centrally Assessed Total Valuation 3 1971 $21,071,850 $ 46,556,050 $ 9,290,240 $410,074 $ 56,256,364 $ 77,328,214 1972 22,458,460 49,136,850 10,348,550 371,490 59,856,890 82,315,370 1973 23,163,150 50,635,000 11,127,080 404,344 62,166,424 85,329,574 1974 35,479,795 52,999,350 15,197,290 426,282 68,622,922 104,102,717 1975 48,804,210 94,032,894 22,448,140 401,022 116,882,056 -165,686,266
, 1976 52,777,660 99,956,286 29,320,580 479,033 129,755,899 182,533,559 2
1977 54,460,280 103,822,050 41,042,470 458,804 145,322,324 199,783,604 1978 55,204,060 105.537,140 45,350,457 621,692' 151,509,289 206,713,349 1979 61,258,460 109,289,340 44,831,660 612,665 154,733,065' 215,991,525 T
1980 67,618,300 114,584,750 46,831,900 672,627 162,089,277 229,707,577 See following page
CITY OF LEESBURG, FLORIDA ASSESSED VALUE OF EXEMPT AND TAXABLE PROPERTY LAST TEN FISCAL YEARS TABLE 4 (Continued)
Notes:
1 Florida Statutes Chapter 193 require that all property shall be assessed at
'just or fair market value as of January 1 of each year. All taxes are due and payable on November 1 and become deliquent on August 1 of the subsequent year. Discounts are allowed at the rate of 4% in the month of November, 3%
in December, 2% in January and 1% in February.
Chapter 193, Florida Statutes provides that all items.of-inventory (in personal property) shall be assessed at 10% of just valuation except goods-in-process and raw materials which shall be assessed at 1%. Furthermore agricultural properties are assessed at agricultural value as opposed to fair market value for non-agricultural property.
2 Estimated actual value is not available. According to a report by the State of Florida Department of Revenue the assessed value of property in Lake County is approximately 65% of fair market value,as of Fiscal Year 1980 (Tax Year 1979).
3 The City adopted a September 30 fiscal year end as of September 30, 1973.
Fiscal year 1973 represents nine months from January 1 to September 30.
Previous fiscal years were calendar years.
I CITY OF LEESBURG, FLORIDA PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS j (PER $1,000 0F ASSESSED VALUE) i LAST TEN YEARS TABLE 5 I Water Water Tax School Hospital Conservation Management Year City District County District Authority District Total i~
1970 5.00 11.500 3.798 0.720 0.250 0.150 21.418 1971 5.00 11.400 3.3846 0.742 0.250 0.250 21.0266 4
1972 5.00 11.100 3.750 0.742 0.250 0.270 21.112
. 1973 5.00 11.100 4.102 1.242 0.250 .0.430 22.124 1
1974 5.00 10.900 4.264 1.250 0.250 0.400- 22.064.
l 1975 ,
3.15 7.610 2.550 1.420 0.150 0.530 15.410' 1976 3.11 7.596 3.650 0.920 0.150 0.250 .15.676 go 1977 3.11 7.916 3.650 0.400 .0.125 0.570 15.771 1978 3.19 7.916 3.650 0.490 0.100 0.330 '15.676 1979 3.26 6.750 3.400 0.502 0.080 0.251. 14.243 1980 i
1 Tax year 1980 is equivalent to Fiscal Year 1981
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CITY OF LEESBURG, FLORIDA RATIO 0F NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS TABLE 6 Assessed Gross Ratio of- Net Bonded Tax Taxable Bonded Bonded Debt Debt Per Year Population I Value Debt 3 to Assessed Value Capita 19712 12,384 $ 59,856,890 1972 12,900 62,166,424 1973 13,033 68,622,922 1974 13,166 116,882,056 1975 13,300 129,755,899 1976 13,684 145,323,324 i 1977 14,067 151,509,289 co -
7 1978 14,550 154,733, % 5 1979 15,000 162,089,277 . -
1980 16,000 200,312,084 -
1 Estimates from 1970 Census,1980 Preliminary Census and. City Planning Department 2 Population as of June 30 for years 1971 through 1979 -
3 See Notes to Financial Statements (Note 3) for Public' Improvement Revenue Certificates and . Table 10
CITY OF LEESBURG, FLORIDA Couputation of Direct and Overlapping Debt Fiscal Year Ended September 30, 1980 Table 7 Gross Available Net Percentage City of Debt In Debt Debt Applicable to Leesburg Governmental Unit Outstanding Service Fund Outstanding City of Leesburg Share of Debt DIRECT DEBT City of Lcesburg General Debt:
Public Improvement Revenue Certificates, Series 1960 $ 340,000 $ 111,855 $ 228,145 100% $ 228,145 Mortgage Notes Payable 23,000 23,000 100% 23,000 Other Notes Payable 101,106 201,106 100% 201,106 Utilitics District Debt:I Refunding and Capital Improvement Utilities Revenue Bonds Series 1977 12,020,000 1,908,224 10,111,776 1 00% 10,111,776 Total Direct 12,584,106 2,020,079 TdW 1 0% 10,564,027 OVERLAPPING DEBT ,
Lake County Certificates of Indebtedness (Secured by Race Track Funds) 1,755,000 247,044 1,507,956 13% 196,034 Lake County Board of Public Instruction 635,000 119,047 515,953 13% 67,074 Motor Vehicle License Tax Bonds 635,000 119,047 515,953 13% 67,074
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Race Track and Jai-Alai Revenue Certificates 2,085,000 429,012 1,655,988 ' 13% 215,278
, State of Florida Board of Education ao Bonds 4,475,000 427,976 4,047,024 13%' 526,113 Total Overlapping 8,950,000 1,223,079 7,726,951 1,004,499 Total Direct and Overlapping $ 21,534,106 $ 3,243,158 $ 19,514,027 $ 11,568,526
CITY OF LEESBURG, FLORIDA COMBINED UTILITY FUNDS SCHEDULE OF REVENUE B0t!D C0VERAGE LAST TEN FISCAL YEARS TABLE 8
- Debt Service Requirements Fiscal Gross Operating Het Sinking Expense I Revenue Principal Interest Fund Total Coverage Year Revenues
$ 4,562,881 $ 2,845,449 $1,717,432 $110,000 $125,940 $ - $235,940 7.28 1971 4,955,767 3.197,253 1,758.514 160,000 149,735 - 309,735 5.68 1972
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4,441,325 3,453,822 987,503 167,000 143,183 - 310,183 3.16 1973 7,125,950 5,434,553 1,690,397 170,000 206,267 - 376,267 4.49 1974 8,586,061 6,530,913 2,055,148 170,000 269,230 - 438,230 4.68 1975 9,733,944 6,983,122 2,750,822 175,000 418,763 - 593,763 4.63 1976
' 11,296,977 8,479,105 2,817,872 182,000 568,042 - 750,042 3.76 1977 E3 12,610,000 9,646,631 2,963,369 - 635,320 200,195 835,515 3.55
, 1978 14,170,822 11,020,367 3,150,455 - 709,790 216,000 925,790 3.40 1979 1980 13,056,392 14,888,400 3,167,992 - 740,573 231,806 972,379 3.07 1 Exclusive of depreciation and interest expense.
2 An invested sinking fund, requiring an annual deposit in a trust account, is used to provide for the retirement of
$5,195,000 in term bonds maturing in 2005 and being a part of the Series 1977 $12,020,000 Bond Issue. The remain-der of the issue is serial bonds (See Table 9).
3 The Series 1977 Bond indebtures require a minimum 1.35 coverage but debt service requirements are defined as principal and interest, not sinking fund requirements.
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CITV 0F LEESBURG, FLORIDA
$12,020,000 REFUNDING & IMPROVEMENT UTILITIES REVENUE BONDS SERIES 1977
_ DEBT SERVICE REQUIREMENTS TO MATURITY TABLE 9 Serial and Invested Sinking Fund Total Par Amount Fiscal Term Bonds Annual Interest Year Net Debt of Sinking Principal Interest Deposit Earned Service 1 Fund Bonds 1978 $ 354,895 $ 202.095.72 $ 556,990.72 S $ 190,000 1979 709,790 218,050.65 15,675.00 912,165.65 205,000 1980 709,790 234,005.57 32,587.50 911,208.07 220,000 1981 709,790 249,960.50 50,737.50 909,013.00 235,000 1982 709,790 276,552.04 70,125.00 916,217.04 260,000 1983 -709,790 297,825.27 91,575.00 916,040.27 280,000 1984 709,790 319,098.51 114,675.00 914,213.51 300,000 1985 709,790 345,690.35 139,631.25 915,849.10 325,000 1986 709,790 382,919.12 166,856.25 925,852.87 360,000 1987 709,790 409,510.96 196,762.50 922,538.46 385,000 1988 709,790 436,103.11 228,937.50 916,955.61 410,000 1989 709,790 478,649.88 262,968.75 925,471.13 450,000 1990 709,79t, 515,878.65 300,506.25 925,162.40 485,000 1991 709,790 558,425.72 340,931.25 927,284.47 525,000 l i 1992 709,790 600,972.49 384,450.00 926,312.49 m 565,000
" 1993 $ 620,000 709,790 -
428,587.50 901,202.50 -
1994 660,000 675,070 -
428,587.50 .906,482.50 -
1995 700,000 637,450 -
428,587.50 908,862.50 -
1996 735,000 597,200 -
428,587.50 903,612.50 -
1997 780,000 554,570 -
428,587.50 905,982.50 -
1998 810,000 508,940 -
428,587.50 890,352.50 -
1999 860,000 461,150 -
428,587.50 892,562.50 -
2000 890,000 410,410 -
428,587.50 871;822.50 -
2001 175,000 357,900 -
428,587.50 104,312.50 -
2002 185,000 347,400 -
428,587.50 103,812.50 -
2003 200,000 336,300' -
428,587.50 107,712.50. -
2004 210,000 324,300 -
428,587.50 105,712.50 -
2005 5,195,000 311,700 -
5,623,587.50 116,887.50)
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Totals $12,020,000 $16,524,135 $5,525,738.54 $13,163,056.25 $20,906,817.29 $5,195,000 1 The sum of principal, interest and annual deposit less interest earned on invested sinking' fund.
CITV 0F LEESBURG, FLORIDA GENERAL DECT SERVICE REQUIREMENTS TO MATURITYI PUBLIC WORKS EQUIPMENT TABLE 10 General Hospital - Mortgage Obligation Revenue Certificates Notes Payable Bonds Principal Interest Principal Interest Total 2 1980 - $30,000 $15,275 $ 1,000 $ %0 $47,235 1981 - 30,000 14,075 1,000 920 45,995 1982 - 35,000 12,875 1,000 880 49,755 1983 - 35,000 11,440 1,000 840 48,280 1984 - 35,000 10,005 1,000 800 46,805 1985 - 40,000 8,570 1,000 760 50,330-i g 1986 - 40,000 6,930 1,000 720 48,656
' 46,930 1987 - 40,000 5,250 1,000 680 1988 - 40,000 3,570 1,000 640 45,210 1989 and after - 45,000 1,890 14,000 4,800 65,690 1 See Table 9 for debt service requirements on utility enterprise funds.
2 The City also has a Note Payable due in monthly installments of $5,870 including interest at 6.5% which is paid directly by Leesburg General Hospital and having a $137,906 balance as of September 30, 1980.
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4 CITY OF LEESBURG, FLORIDA I
, ESTIMATED POPULATION
. CORPORATE LIMITS, UTILITY DISTRICT AND COUNTY TABLE 11 City of Leesburg Fiscal Corporate Annual Utility Annual Lake Annual Year 2 Limits % Change District % Change County % Change
[ last Ten Fiscal Years
- 1971 12,384 4.34% 25,203 3.68% 72,064 3.98% ;
1972 12,900 4.17 26,490 5.11 77,000. 6.85 1973 13,033 1.03 28,027 5.80 83,568 8.53
- 1974 13,166 1.02 28,885 3.06 87,839 5.11 1975 13,300 1.02 29,119 0.81 90,401 2.92
- 1976 13,684 2.89 30,231 3.82 _ 92,346 2.15 1977 14,067 2.80 31,974 5.77 94,393 2.22
- 1978 14,550 3.43 33,871 5.93 96 045 1.75
, 1979 15,000 3.09 36,332 7.27 99,679 .3.88 j 1980 16,000 6.67 37,000 2.00 102,000 2.00 i
e Last Six Decades 1920 1,835 12,744 1930 4,133 125% 23,161 82%
1940 4,687 13 27,255 18 1950 7.395 59 . Not Available 36,340- .33 '
4 1960 11,172 51 57,383 58 1970 11,869 6 69,305 21 1980 16,000 35 102,000 47 1
1 Estimated population from U.S. Census, City Planning Department and County Planning Department.
2 1970 Data as of April 1, all other years-as of June 30.
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CITY OF LEESBURG, FLORIDA GROWTH INDICES I LAST TEN. YEARS TABLE 12
' Commercial Savings Calendar Building Bank and Loan Utility Connections Year Pennits Deposits Deposits Water Gas Electric 1971 $ 3,808,045 $ 47,776,000 $ 42,856,115 3,947 3,431 10,119 1972 9,036,989 62,018,000 52,478,168 4,123 4,103 10,807
. 1973 6,383,612 94,360,000 62,471,331 4,350 4,231 10,679 1974 5,654,008 88,160,000 71,302,924 4,412 4,445 11,172 1975 2,694,526 106,161,000 86,113,431 4,448 4,567 11,545 1976 3,815,324 118,164,000 102,000,000 4,531 4,654 10,949
' 1977 6,837,362 130,145,000 108,500,000 4,638 4,758 11,484 e
19782 8, 41,424 159,;49,000 Not Available 4,535 4,739 14,750 19792 11,479,497 185,495,000 ' Not Available 4,052 4,597 14,028 1980 239,493,000 Not Available 4,921 5,657 13,349 11,322,380 1 Source: City Records and Florida Bankers Association 2 Prior years included multiple meters for single customers. The City has instituted a meter replacement program, t