HomeMy WebLinkAboutAccountants' Report - 6/30/69 I.
CITY OF HUNTINGTON BEACH
ACCOUNTANTS' REPORT
.TUNE 30, 1969
1
CITY OF HUNTINGTON BEACH
June 30, 1969
INDEX
Page
Number
Accountants' Report : - 2
Combined Balance Sheet - All Funds 3 - 4
Combined Statement of Changes in Fund Balances - All Funds 5
General Fund:
Statement of Revenue - Estimated and Actual 6 - 8
Statement of Expenditures and Encumbrances -
Compared with Authorizations 9 - 10
Special Revenue Funds:
Balance Sheets 11
Statement of Changes in Fund Balances 12
Statement of Revenue 13
Statement of Expenditures and Encumbrances -
Compared with Authorizations 14
Capital Outlay fund:
Statement of Revenue - Estimated and Actual 15
Statement of Expenditures and Encumbrances -
Compared with Authorizations 16
Library Fund:
Statement of Revenue - Estimated and Actual 15
Statement of Expenditures and Encumbrances -
Compared with Authorizations 17
1955 Water bond Interest and Redemption Fund:
Statement of Revenue - Estimmted and Actual 15
Water Utility Funds:
Balance Sheets 18
. Statement of Changes in Fund Balances 19
Statement of Income 20 - 21
Notes to Financial SLaZements 22
Supplementary Information 23 - 25
•
DICHL. EVANS AND COMPANY
CCRTIFICO PUPLIC ACCOUNTANTS
[LUS C,DIL NL,C.RA,(ip 24•Ip S6) OTHCM O►►ICCS AT:
O RTN !.[VAN S.C.P.A. IDIU NORTH OUCH STRCCT 705 [AST MAIN STRCCT
WIN O,PCtCRS,C.P,A, SANTA ANA,CALIFORNIA 92706 SAWA MARIA,CALIFOi1N1-
DONALO H.![TCRSON,C.P,A• KIwSCRLv E•I453
WALNyt 6.2579
DONALD [,CALLANAN,C.P,A.
L.PCTCR SCN[RCR,C.P.A.
�f
Sii NORtN H StRCLT
WARD M,DALLACNLR,C,P,A,
JOHN A,RAASCR 6,C,P,A• December 22f 1969 LOMPOC,CALIFORNIA
RATMOND V FIIA=ICR,C.P•A. RCatMT 0•l125=
ACCOUNTANTS' REPORT
City Council
City of Huntington Beach
Huntington Beach, California
We have examined the balance sheets of the various funds of the City
of Huntington Beach at June 30, 1969 and the related statements of changes in
fund balances, revenue, and expenditures and encumbrances for the year then
{ ended, Our examination was made in accordance with generally accepted auditing
1 standards, and accordingly included iuch tests of the accounting records and
t such other auditing procedures as ve considered necessary in the circumstances,
except that, as described in Note 1 to the financial statements, a substantial
portion of the cost of Water Plant in service is based on estiwtea made by
City personnel, and it was not within the scope of our examinatioa to verify
that portion of the cost. In addition, we did not verify the liability in
connection with agreements with subdividers providing for refund of water and
sewer acreage fees since accounting records in connection with these refund
agreements were not complete. Also, we did not confirm accounts receivable,
however, we satisfied ourselves as to such amounts by means of other auditing
procedures.
The general fixed assets of the City are not included in the accom-
panying financial statements.
In our opinion, the accompanying statements present fairly the financial
position of the
General Fund
• Special Revenue Funds (except Sewer Fund)
Capital Outlay Fund
Library Fund
1955 B+ nd Construct`on Fund
• 1955 Bord Interest and Redemption fund
W.O.C.W.B. Agency Fund
Treasurer's Departmental Trllst Fund
Special Assessment Fund
Treasurer's Special Assessment Fund
General Bonded Debt
I
at June 30, 1969, and the results of fund transactions for the year then ended,
in conformity with generally accepted accounting principles applied on a basis
consistent witb that of the preceding year.
Since we were unable to satisfy ourselves as to the liability with
regard to water and sewer refund agreements and, as described in Note 1 to the
financial statements, since a substantial portion of tLe cost of the water
plant in service is based on estimates made by City personnel, we are unable
to express an opinion on the financial position of the Water Utility and Sewer
Funds at .Lune 30, 1969 and the results of their transactions for the year then
ended. As a result of our examination, however, it is our opinion that the
statements present fairly the assets and liabilities (except tic .liability with
regard to water and sewer refund agreements and cost of contributed Water plant
• in service as described in Note 1 to the financial statements) of the Water
Utility and Sewer Funds at June 30, 1969, and their revenues (except acreage
fees) and expenditures (except depreciation expense) for the year then ended,
all in conformity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year.
Because of the omission of general fixed assets as noted above, it
is our opinion that the accompanying financial statements do not present the
over-all financial po<icn of the City at June 30, 1969.
The accompanying supplementary information has been subjected to
the tests and other audit+v:,; procedures applied in the examination of the
financial statements ment: ,.ned above and, in our opinion, are fairly stated
in all material respects t-lating to the financial statements taken as a whole.
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ASSETS Ge�aezal Fund lhz�a OatUtT; pnad �Cil� 2n1s6a
• r-�.� Ir.ii�i- y i
- - 3
Treasurer's cash and short term investments $ 3,408,154.19 $ 3,393,313.81• $ 4.26,847.17 $ 116,742.94• $ 332*269." i
Caab dM investments with fiscal agent - - - - 294,621.16
Petty cash 3,000.00 - - 50.E -
Acccrants receivable 351,020.14 4,847.72 - ' 10.69 115,505.31 i
Impounded:property tazes-.racolVable 164,773.53 - - -
Interfund loan receivable 26,065.93 160,000.00 - -
Due fs^saa Water Fund for 1955 Bond. Interest and Redemption 519,885.50 - - - -
Due from other Funds 77,809.47 - = - 47.25
Due from County of Orange 13,500.00 - - - -
Due from other Municipalities - 21,000.00 - - 29,269.00
Plant in service, net (Note 1) - _ - 14,115,134.13
TOTAL ASSETS S 4:246�227�75 S 3.579.161.s3 S 626.84'1.17 S 116.803_63 S 15_407.€}fi6.83
LIABILITIES, RESERVES AND FUND BALANCE
Accounts payable $ 302,917.26 $ 170,294.40 $ 40,334.31 $ 8,644.% $ 160,757.74
Accrued payroll 226,460.19 23,543.66 - 7,845.57 4,953.96
Matured interest payable - - - - 4,013-50
Accrued bond interest, 1963 water bonds - • - - 21,929.30
Refundable acreage fees - 11,346.00 - - `
Miscellaneous deposits 3,324.44 10,402.67 100.00
Due to other funds 71.83 22,483.31 - - 575,186.08
Interfund loans payable - 160,000.00 - - 26,OB5.93
Prepaid licenses and oil permits 30,922.34 - - - -
Advances for construction - - - - -
Matured bond interest payable - - - - -
General bonded debt - - - - -
Revenue bonds payable - - - - 3,620,000.00
Reserve for encumbrances 114,335.65 206,289.42 104,690.41 45,419.98 21,027.65
Reserve•fqr-amount due frm other;Kunicipalities - 21,000.00 - - ,.
Reserve for impounded property taxes receivable 164,773.53 - - -
Reserve for payment of general obligation bonds - - - - 420s000•00
Reserve for Pavilion 53,051.56 - - - -
Reserve for amounts due from other funds 569,493.50 - - -
Reserve for Bole& Drainage - 13,484.40 - - -
Reserve for interfund loans receivable 26*085.93 - - - -
Reserve for future engtneering 73,522.77 - - - -
Reserve for contingencies 145,388.21 - - - -
Reserve for refuse collection charges 122,928.35 - - - -
Contribution3 in aid of construction (Note 1) - - - - 8,373,348.45
City contributions to Water Fund - - - 92:607.51 a
Reserve for refuse contingency 432,000.00
Fund balance 1,982,952.20 2i9140,317.67 54,793.12 2.OW.,106.71
TOTAL LIABILITIES, RESERVES AND FM BALANCE S 4.24a.227.76 5 �_�7+1 16l.+�. A
Sae accompanying accountentut report and notes to financial status,
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' Txses / aelal Opesiei*� '"
1435 Load 1955 and
Coastxuctica� Interest and R.0 C.V;19. Da rEei i �►Masrs�si4t Assest Caaies�rl
ASSETS Fund sodgeSion Ihmd, TOW
Treasurer's cash and short tars i:rvest nts 77,310.38 $ 66,970.40 $ 163,233.33 $ 6l,430-26 $ 38,4"-.93 $ 6,655.45 � -
Cash and iavestsents with fiscal agent ' 660.E
Petty comb - - 50.00
Accounts receivable
Intetfund loan racaivable
Due from Water Fund for 1955 Bond Interest and Redemption
Due from other Funds ,.
Due from other cities 55,776•00- -
Due from other municipalities
Plant in service, net (Note 1)
000
Amount to be provided for Bond Redemption - =
TOTAL ASSETS > 77.310.38, 3 47.530_44 S 218.9T9.33 S B9_d3d. S 38_444.93 S 6.555_45 4 D:
LIABILITIES, RESERVES AND FDND ;BALAHCE
Accounts payable
Accrued payroll ' -
Matured interest payable
Accrued bond interest, 1963 sister bonds
Refundable acreage fees
Miscellaneous deposits - - 218,979.33 09,430.26 - - -
Due to other funds '
Due to Assessment District bondholders - - 6,655.45 `
Interfurd loans payable
Prepaid licenses and oil permits - '
Advances for construction - - `
Matured bond interest payable - 660.00 ' ' -
r,eneral. bonded debt - - 420,000.00
Revenue bonds payable -
Reserve for encumbrances -
Reserve for amount due from other municipalities
Reserve for payment of general obligation bonds
Reserve for Pavilion
1
Reserve for amounts due from other funds
Reserve for Bolas Drninage
Reserve for interfund loans receivable
• Reserve for future engineering i
Reserve for contingencies
Contributions in aid of construction (Mote 1)
City contributions to Suter Funi'. - - - -
Investmaut in fixed assets - - -
Fund balance 77,310.38 : "s970.40-:- 39,444M - -
y • TOTAL LIABILITIES,.'RESERVES A M. MM BALANCE 3' -77_31O:_j S' 0.� ;3�' $ . �Ml:A3A;�1[::" �• 8 ti_U5.�'
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See awwsipanYI accoantants report and notes' to fkacneial' ataeAmgkta.t
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Tor the year awed June•30, 1%9
:. 1233 load
1933' .. Ia#eseet ear I
9IMial. Capital i1at Coutsuction Redwwtion
General Fund Aaysnue Deis 0utia XM— Lf�s u T ittil�t�Tuads Toad
BALANCE, JM 1, 2968 $ 1,601,606.75 $ 2,477,709.88 $ S99,361.63 $ 31;081.83 $ 1,657,37E.91 9 77,,310.36 4 343,177.70 !
I
ADD:
Revenues 6,958,9v..68 39573,913.88 317,711.35 355,923.05 - 8,6i8.75 - 57,641.46
Net income from Water Utility - - - - 386,236.38' - -
Adju.stment of prior year encumbrances - - - 5,540.54
Transfer from Parking Authority Fund 164,859.86 - - - - - -
Adjustment of prior year revenues - 66,655.36 - 1".83 - - -
Reserve for impounded property taxes receivable, July 1, 1968 320,063.26 - - - - - -
Reserve for interfused loans receivable, July 1, 1969 1093,929.04 - - - - - -
Transfers from other funds 1,283,820.42 71337.33 - - - - ' -
Reserve for encumbrances, July 1, 1968 37,352.24 - - - 1,308.41 - -
Reserve for Fier maintenance, June 30, 1968 22,500.00 - - - - - -
Adjustment in reserve for General Obligation Bonds - - - - 66,850.00 - -
Adjustment of prior year's transfers from
Special Gas Tax Fund 51,869.62 (51,869.62) - - - - -
Prior year adjustment to fixed assets - - 1,342.11 - -
TOTAL BALANCE AND ADDITIONS 10,550,944.87 6,0,3,746.83 917,072.98 392,692.25 2,121,934.56 77,310.38 113,819.16
DEDUCTIONS:
Expenditures 7,679*848.35 1,688,794.07 5201,762.74 291,834.15 - - 46,848.76
Expenditures chargeable against prior years' encumbrances 84,383.03 - 2,500.05 - - - -
Resnrve for encumbrances, June 30, 1969 114,335.65 207,539.67 104,690.91 45,419.98 21100117k65 - -.
Adjust for expenditures df prior period 66,489.28 - - - - -
Reserve for impounded property taxes receivable, .
June 30, 1969 164*773.53 - - - - - -
Reserve for interfund loans receivable, June 30, 1969 26,085.93 - - - - - -
Reserve for refuse collection charges 432,000.00 - - - - - -
Transfers to other funds - 112371,095.42 7,3:;7.33 - - - - -
Adjustment of prior years revenue 77.90 - 60.00. 13,800.20 - -
TOTAL DEDUCTIONS 81567992.67 _3,133,429.16 635,29,1.03 33 F M.1�3 34 27&S - 4f►t848.76
BALANCE, JUNE 30, 1969 9 1.982.952.2a 2.9�.3 7:67. 8 281 791'.gs 8 �4.?93_12 R_��Fl8F.10li_71 9 7?_ 10.`38. 8 65.970 44
See accompanying accountants' report and notes to financial statiaments.
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CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF REVENUE
(ESTIMATIED AND ACTUAL)
For the year ended June 30, 1969
Actual Over
or (Under)
Estimated Actual Estimate
TAXES:
Property taxers $ 2,777,016.00 $ 2,864,690.64 $ 87,674.64
Interest and penalties on
delinquent tastes 7,024.00 12,458.87 5,434.87
Solvent credits 1,000.00 77.84 (922.16)
Aircraft 300.00 1,297.34 997.34
Water utilities in lieu taxes 43000.00 48,064.39 59064.39
Franchise, utility 85:000.00 178,834.45 93,834.45
Franchise, dry gas 29000.00 1,463.88 (536.12)
Franchise, pipeline 15,000.00 13,672.47 (1,327.53)
Sales and use taxes 1,150,000.00 1,350,060.80 200906C.60
Occupancy tax 26,000.00 27,220.42 1,220.42
Cigarette tax 218.500.00 _ 319,L525.15 101,025. 15
TOTAL TAXES 4s224,840.00 4,817 366.25 492,526.25
LICENSES AND PERMITS:
Business licenses 1409000.00 156,534.03 16,534.03
Bicycle licenses 1,200.00 871.25 (328,73)
Oil derrick licenses 53,000.00 47,343.00 (5,657.00)
Building permits 250,000.00 274,116.00 24,116.00
Plumbing permits 75,000.00 76,257.53 1,257.53
Elp. trical permits 65,000.00 58,338.42 (6,661.58)
Hc. -.lag permits 26,000.00 28,813.28 2,813.28
Excavation, streets and
curb permits 32,000.00 15,651.36 (16,348.64)
Waste crater disposal permits
and fees 33,000.00 18,105.00 (14,895.00)
Other permits end licenses 4,103.00 6,756.95 2,656.95
TOTAL LICENSES AND
PERMITS 6792300.00 6822786.82 3,4 86.82
FINES AND FOREFEITURES:
Court fines, non-traffic 80,000.00 54,266.19 (25,733.81)
See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF REVENUE
(ESTIi`jATti TEEDD ANDdACTUAL)
For the year ended Jllune 30, 1969
Actual Over
or (Under)
Estimated Actual Estimate
REVENUE FROM USE OF MONEY
AND PROPERTY:
Interest income $ 60,000.00 $ 69,233.42 $ 9,233.42
Lease - Huntington Driftwood 39,000.00 429900.00 30900.00
Land rental 3,000.00 2,601.00 (399.00)
Building rental 20,600.00 8,880.50 (11,719.50)
Pier rentals and concessions 13,000.00 8,480.70 (4,519.30)
Golf course rental 4,800.00 927.17 (3,872.83)
Rentals - Beach and Concessions 55,000.00 55*888.68 888.68
Royalties and easements 45,000.00 39,727.51 (50272.49)
Parking lot 80,000.00 65,477.60 (l4,522.40)
Other revenue from use of
money and property 1,000.00 890.11 (109.89)
TOTAL CHARGES FOR USE
OF MONEY AND
Am PROPERTY 321,400.00 ,295,006.69 (26,393.31)
REVENUE FROM OTHER AGENCIES:
Trailer coach license fees 35,000.00 30,864.26 (4,135.74)
State alcoholic beverage
license fees 36,000.00 30,081.91 (5,918.09)
County grants • lifeguard
and beach maintenance 75,090.00 106,194.72 31,104.72
State oil and gas lease 53,000.0 63,495.22 10,495.22
Lifeguard services 30,698.00 219463.00 (9,235,00)
Beach maintenance 11,967.00 14,123.00 2,156.00
Real property transfer tax - 58,769.75 56,789.75
Other revenue from other
agencies 5,000.00 .4187.24 2,8122.76)
TOTAL REVENUE FROG:
OTHER AGENCIES 246,755.00 327.199.10 �80444410
See accompanying accountants' report and rotes to financial statements.
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CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF REVENUE
(ESTIMATED AND ACTUAL)
(Continued)
For the year ended June 30, 1969
Actual Over
or (Under)
' Estimated Actual Estimate
CHARGES FOR CURRENT SERVICES:
Zoning and subdivision fees $ 30,000.00 $ 190309.55 $ (109690.45)
Sale of maps and publications 3,000.00 2,954.05 .'45.95)
Oil Well application fees 12,000.00 4,600.00 (7,400.00)
Miscellaneous filing and
certification fees 500.00 454.50 (45.50)
Plan check fees 110,000.00 145,721.00 35,721.00
Engineering end inspection fees 100,000.n0 92,820.50 (7,179.50)
Weed abatemnt 40,000.00 37,824.80 (2,175.20)
Special police department
services 9,000.00 10,420.45 1,420.45
Refuse collection 432,000.00 427,682.65 (4,317.35)
Other charges for current
services 4.000.00 (75.00) (4,075.00)
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TOTAL CHARGES FOR
CURRENT SERVICES 740,50R 0.000 741,7f2.50 _ 1,212.50
OTHER REVENUE:
Surfirg championship 16,000.00 11,124.25 (4,875.75)
Other revenue 10,000.00 25,359.98 15,359.98
Discounts earned 2,500.00 4,033.60 1,533.60
Off-hour inspection fees 89.30 89.30
TOTAL OTHER REVENUE 28,500:00 40,607.13 12,107.13
TOTAL REVENUE S- 21.295.00 .�6.9.58.9 ib8 8 53 .b7 49,68
See accompanyingaccountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
(COMPARED WITH AUTHORIZATIONS)
For the year ended June 30, 1969
Expenditures
Chargeable
Appropriations against Encumbrances Actual
(After Current and Projects (Over) Under
Revisions) ropriations Authorized Estimated
City Council $ 28,735.00 $ 28,730.51 $ $ 4.49
City Administration 79,379.00 790287.53 67.57 23.90
City Trcasurer 130316.00 13,293.42 6.12 16.46
City Attorney 80,354.00 76,471.53 3,851.29 31.18
City Clerk 70,792.00 68,418.65 2,346.60 26.75
Purchasing Department 26,349.00 26,328.04 - 20.96
Personnel 24,671.00 24,647.74 - 23.26
Finance Department 133,779.00 132,812.95 934.65 31.40
Elections 13,470.00 13,466.57 - 3.43
Planning Department 106,318.00 1059456.64 819.72 41.64
Celebrations 32,095.00 31,866.39 201.60 27.01
Municipal buildings 34,095.00 33,691.32 390.16 13.52
City general -
Non-departmental 1,581,919.00 1,580,375.66 1,464.54 78.80
Fire Department 1,178,459.00 1,163,162.40 24,170.92 (8,874.32)
Weed abatement 420910.00 41,303.74 1,590.00 16.26
Pr*king meters 4,760.00 4,653.04 93.86 13.10
Poil,ce Department 1,844,382.00 1,798,749.03 45,545.69 87.28
Lil�eguard Department 338,112.00 335,237.63 2,807.39 66.98
Civil Defense 10,279.00 10,221.95 31.75 25.30
Building Department 275,666.00 275,306.07 326.96 32.97
Oil field
inspection 28,592.00 28,477.96 95.16 18.88
Engineering gin ring
Department 382,922.00 375,215.35 7,660.90 45.75
Maintenance Yard #1 80,146.00 79,670.39 435.40 40.21
Building Maintenance 64,037.00 63,999.53 13.64 23.83
Sewer System
Maintenance 85,003.00 84,443.24 520.20 39.56
Street Maintenance 313,116.00 312,982.12 93-79 40.09
Street Bridges
Maintenance 465.00 462.00 3.00
See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
(COMPARED WITH AUTHORIZATIONS)
(Continued)
For the year ended June 30, 1969
Expenditures
Chargeable
Appropriations agai:I:t Encumbrances Actual
(After Current and Projects (Over) Under
Revisions) Apt opriatiots Authorized Estimated
Street trees $ 12Uv531.00 $ 120,393.83 $ 107.91 $ 29.26
Street cleaning 101,601*;1.00 87,215.86 14,431.61 15.53
Street marking 102,944.0 101,078.99 1,827.58 37.43
Street lighting 284,712.00 283,457.17 1,231.98 22.85
Traffic signals 24,431.00 23,322.16 1,079.85 26.99
Urban land planning 43,869.00 430829.37 18.12 21.51
Harbors 58,725.00 58,197.21 489.49 38.30
Storm drainage 3,055.00 1,948.50 1,103.55 2.95
Beach Maintenance 108,436.00 108,379.98 6.50 49.52
Municipal Beach
parking lot 18,285.00 17,867.94 404.13 12.93
Administrative
maintenance 3,108.00 3,398.89 - 9.11
Municipal Pier 30,317.00 30,135.30 167.02 14.68
West Coast Surfing
Championship 12,220.00 12,191.75 28.25
10TAL
EXPENDIYORES
AND
ENCUMBRANCES Z.J86411,00 S 7 J79� 84� 9 114.3 .65 t7. 0)
See accompanying accountants` report and notes to financial statements.
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JWae 30, 1%4
and Plaiiiiiiiiiiiiiiiiied tre+ee,1 -
Recreation Dri'w�a Animal
lacilitg Facilities Pumat Special Gas LLerna Pea
ASSETS Total Fund Fund - Sewer lna,i` a Tam Fund Fund
Treasurer's cash $ 3,393,313.81 $ %0,153.67 $ 836,918.70 974,226.46 -' 22,483.31 645,256.65 $ 4,275.02
Accounts receivable 4,097.26 2,172.53 1,653.33 220.00- - - 41.39
Interfund loan receivable 160,000.00 - - 160,000.00 - - -
Due from other funds 760.46 760.46 - -
Due fv m other nunieipalitiee 21.000.00 21,000.00 - -
TOW. ASSETS S 3_579.161.53 S 913_0&5.68 S 854.5?2.03 S I_134:44b.4b: 3 22.48L3-1 S 645, 5F 65 9 4.316.40
LIABILITIES, RESERVES AND SURPLUS
Accounts payable $ 170,294.40 $ 22,866.67 $ 25,324.94 $ 3,175.94 $ - $ 1149610.45 $ 4,316.40
Accrued payroll 23,543.66 23.543.66 - - .. -
Refundable a►crea8e fees 11,346.00 - - 11,3".00 - - -
Miscellaneous deposits 10,402.57 10,402.67 - - - -
Due to other funds 22,483.31 - - - 229483.31 - -
Interfund loans payable 160,000.t;0 - 160,000.00 - - - -
Reserve for amount due from other
municipalities 21,000.00 - 21,000.00 - - -
Reserve for Bolea Drainage 13,4814.40 - 13,494.40 - - - -
! Reserve for encumbrances, June 30, 1969 206,289.42 13.389.94 17,204.88 - - 175,694.60 -
Fund balances 2,940,317-;:? 842_883.74 622,557.81 1s119,924_52 - 354,951.60 -
TOTAL LIABILITIES, RESERVES
AND SURPLUS $ 3,579_161.53 S 913_086,68 S P59,572,03 3 A-319-40
Se' accompanying accountants' report and notes to financial statements. ^<
.. .. .. _ 'r . 's'.� :�4:;•Si:.=`.7c.''.r;' .:.tom"••ir':;`.#G• •ra•::f.� ,l .. i'` _ -�'••_ .- _r. _ ._ _
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- CITY CE R".,zEACR
STATEMNT OP C!L'AMS IN'.FM BALANCES - SPECIAL REVENUE FUNDS _
:. For the year ended .Tune 30, 1969
Park and Planned Local
Nuadd and Fecreation Draiaage Ani>rsl
Promotion Facility Facilities Traffic Park-.1mg Auto in Liau Special license
Total Fund Fund Fund" Seger Fund SafetT Fund Meter Fused Tax Fund Gas Tax Fund Too Fund
BALANCE, JULY 1, 1968 $ 2,ii',709.88 $ - $ 261,535.13 $ 913,437.86 $ 1,021,854.99 $ - $ - $ - $ 280,881.90 $ -
ADD:
Revenue 3,573,913.88 59,782.52 1,052,338.75 :53,361.69 196,665.26 195,656.18 34,076.31 726,717.68 895,249.07 60,066.42
Transfers from other
funds 7,3717.33 - - - - - - - 7,337.33 -
Reserve for encumbrances,
June 30, 1968 47,345.00 - 47,345.OD - - - - - - -
Adjustment of prior year's t
revenue and
645.36 - 157.08 'expenditures 66, - - 66,488.28
TOTAL BALANCE
AND ADDITIONS 6,172,951.45 59,782.52 13361 ,375.96 1.2662799.55 1,218,520.25 195.651j.18 34,076.31 726,717.68 1,249,956.58 60,066.42
DEDUCT:
Expenditures 1,688,794.07 - 456,517.03 627,036.86 f 98,595.73 - - - 451,440.76 55,203.69
Transfers to other
funds 1,237,095.42 59,782.52 - - - 195,656.18 34,076.31 726,717.68 216,000.00 4,862.73
Adjustment of prior
years' transfers to
General Fund 51,869.6 2 - - - - - - - 51,869.62 -
Reserve for encumbrances
.Tune 30, 1969 206,289.42 - 13,389.94 17,204.88 - - - - 175,694.60 -
Adjustment of prior
year's expenditures 48,585.25 48,585.25 - -
TOTAL
DEDUCTIONS 3,232,633.78 59,782.52 518,492.22 644,241.74 98,595.73 1.954656.18 34,0`r6.31 726,717.68 895,004.98 60,066.42
BALANCE, JUNE 30, 1969 S 2.940 31 .67 - S 842,883.74 S 522.SST.81 S 1.119.424.52 S - S - S - S 354.951.6Q S
a
See accompanying accountants' report and notes to financial statements.
lu
,. • .ti 1 .4 _ h ti "L .. � r'F' -f ; R' s ii .4...• ` a�C _ }•.t. t
IF
c `17; Tlz
•,crii or. 4jwzwraww WACIN
SPECIAL. RZVENU FUMS �-
For the year wAW .tune 30, lab9
.Piaaaid -
Park and Local
Music and Recreation Drainage Asian
Promation Facility Facilities Traffic Partiza &,to in Liau Special License
Total hsmd Fund Fund Sewer Puad Safety Futrd YAter Fund es_F 4 Can Tax Yitud Fee Pod
Property taxes $ 585,450.55 $ 59,782.52 $ 525,668.03
Royalties and easements 496.93 - 496.93 - - - - - -
Recreation Departmnt
fees and charges 75,143.09 - 75.143.09 - - - - - - -
Rental - - - - - - - -
Sever permits 103,929.10 - - - 103,929.10 - - - - -
Parting lots - - - - - - - -
Interest 120,339.97 - 20,002.13 49,974.03 .1 50,363.81 - - - - -
Local asse3smenta 336,942.34 - - 294,569.99/ 42,372.35 - - - - -
ithiele code fines 195,656.18 - - - - 195,656.18 - - -
Parking meter
collections 34,076.31 - - - - - 34,076.31 - - -
Motor vehicle license
Fees 726,717.68 726,717.69 -
- - - - -
State gasoline taxes 895,249.07 895,249.07
Animal licenses 60,066.42 - - - - - - - - 60,066.42
Subdivision licenses 314,029.00 - 314,029.00 - - - - - - -
Unit lot fees 116,745.84 - 116,745.84 - - - - - - -
Other revenue 9,0771.40 - 253.73 82817.67 - - - -
7n^AL S 3.57_ .913,$8 . 87.E ;�L.052_338.T5 S 353.361. 9 $ t96_665.26 S 19�_65 .18 9 '•34_D76.31 S 72i5_9M_6B S 895.�49 47 S Gd_466. 2
See accowpanying accountants' report and nott`c to financial stateseute. -
• .. - _ - '�'• Mom:_ ..e`�,''.--I'd;`µ- �•- '�,ax :`�• v =�` .�... .r _L:`�" -
_ - ss?.:y} a .-�•-,•:-`F�'*ti:_ti•-.`%» �7�
_"'. .: ,tip .•s. ,�: �•�` .—
CITY or HUNTINGTON BEACH
SPECIAL REVENUE FUNDS
SIATENENT OF EXPENDITURES AND ENCUMBRANCES
(COMPARED WITH AU111ORIZATIONS)
I'or the year ended June 30, 1969
Encumbrances Actual
and Projects (Over) Under
Approeriated Expended Authorized Estimated
Park and Recreation
Facility Fund 13
IM% 5 0�,p
Planned Local
Drainage Fund 300.2OQ.00 ,4i 3 17.204.88 $ 344.24E 74)
Sewer Fund S 98.595.73 S 121� 4.27
Special Gas 'Pax
Fund S 502.000-0 $ 14 11!!AQ_.76 _ JJ S(127.1 5,36)
Animal License
Fee Fund $ 45.0 0.00 S 55.2Q3.69 .$ S (10.203.69)
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II
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i
' See accompanying accountants' report and Notes to financial statements.
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j .14-
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CITY OF HUNTINGTON BEACH
STATEMENT OF REVENUE
(ESTIMATED AND ACTUAL)
For the year ended June 30, 1969
I
i
CAPITAL OUTLAY FU11D
Actual over
or (Under)
Estimated Actual Estimate
Property taxes $ 261,287.00 $ 2649182.94 $ 2,895.94
Interest income 20,000.00 16,699.15 (3,300.85)
Unsecured taxes 21,338.00 22,312.19 974.19
Prior year taxes 3,948.00 12,616.82 8,668.82
Interest and penalties 1,128.00 1,337.72 209.72
Other 562.53 562.53
TOTAL, S 307.701.00 317.7 �35 10.0
LIBRARY FUND
Property taxes $ 319,737.00 $ 324,145.48 $ 4,408.48
Fines and fees 10,000.00 10,741.31 741.31
!'1+ Earned discounts 50.00 26.24 (23.76)
Unsecured taxes 11,929.00 12,481.38 552.38
Prior year taxes 2,209.00 7,057.81 4,848.81
Interest and penalties 631.00 1.470.83 839.83
TOTAL S 344„�56�QG $ 355.923_ ,- 11�,367b5
1955 WATER BOND INTEREST
AND REDEMPTION FUND
:roperty taxes $ 44,314.00 $ 44,796.24 $ 482.24
Interest income 3,000.00 8,668.79 5,668.79
Unsecured taxes 2,428.00 22531.88 103.E8
Prior year taxes 448.00 1,431.70 983.70
Interest and penalties 128.00 212.85 84.85
TOTAL $ 50.31$.OQ ,$ 57.641.46 S 7.323.46
See accompanying accountants' report and notes to financial statements.
-15-
CITY OF HUNTINGTON BEACH
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
(COMPARED WITH AUTHORIZATIONS)
For the year ended June 30, 1969
CAPITAL OUTLAY FUND
Expenditures
Chargeablc
Against Encumbrances Actual
Appropriations Current and Projects (Over) Under
(As Revised) Appropriations Authorized Es.imated
Treasurer's Office $ 341.87
Attorney's Office 17,819.24
Cleric's Office 965.31
Finan--e Department 5,219.08
Promotional 974.54
Civic Buildings 30,127.14
Civic improvements 676.42
Equipment 10,949.22
Fire Department 130,448.10
Police Department 39,860.88
Lifeguard equipment 18,550.67
Beach maintenance 23,634.25
Beach parking 1,304.75
Pier facilities 67,086.64
r" Building Department 14,766.90
Engineering Department 3,720.84
Maintenance yard 106,4 20.38
i Sewer maintenance 6,123.(1.
Flood control 189.00
Street maintenance 16,095.07
Street trees 4,095.66
Street cleaning 17,187.05
Street lighting 4,206.09
TOTAL 5IQ 24L2.74 99 W, 90.91 $.0-41-97 )
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i
See accompanying accountants' report and notes to financial statements.
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t -16-
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CITi OF HUNTINGTON BEACH
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
(COMPARED WITH AUTHORIZATIONS)
For the year ended Juna 30, 1969
LIBRARY FUND
Expenditures
Chargeable
Against Encumbrances Actual
Appropriations Current and Projects (Over) Under
(As Revised) Appropriations Authorised Estimated
Salaries $ 185,107.00 $ 181,217.57 $ - $ 3,889.43
Materials and
supplies 9,955.00 8,504.90 824.62 625.48
Books 116,480.00 74,203.05 40,632.51 1,644.44
Utilities 3*194.00 3,192.98 - 1.02
Telephone 2,760.00 2,199.94 - 560.06
Book repairs and
binding 3,720.00 1,303.21 2,424.00 2.79
i Building maintenance 3,898.00 3,896.32 1.68
Equipment maintenance 720.00 386.17 333.83
y Vehicle operation 1,900.00 1,627.48 272.52
Conference expense 765.00 763.59 1.41
Capital outlay 16.958.00 13,949.46 756.74 20251.80
Dues 208.00 - 208.00
Miscellaneous 1,500.00 589.48 782.11 128.41
TOTAL 347.175.00 $ 291=�8�4,15 , .45,419. A .94 22
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i
See accompanying accountants' report and notes to financial statements.
-17-
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,..
CITY OF HUNTINGTON BEACH
BALANCE SHEETS - WATER UTILITY FUNDS
June 30, 1969
1963 Water
Revenue Bond
Interest and 1963 Water
Water Redemption Revenue Bond
ASSETS UtilitX Fund Fund Reserve Fund Total
Treasurer's cash $ 852,289.98 $ - - $ 8520289.98
Cash and investments
with fiscal agent - 79,276.16 215,545.00 294,821.16
Accounts receivable 115,503.31 - - 115,505.31
Due from other funds 47.25 - - 47.25
Deposits 29,269.00 - - 29,269.00
Utility plant in service
(less accumulated dep-
reciation of $909,069.78 -
Note 1) 14,115,1134.13 14,115,134.13
TOTAL - SSETS 515.112.245,E 79,276.16 S 215. G5.00 S15.407.066.
LIABILITIES, RESERVES
AND FUND BALANCE
�1 Accounts payable $ 160,757.74 $ - $ - $ 160,757.74
Accrued payroll 4,953.96 - 49953.96
Accrued bond interest,
1963 water bonds - 21,929.30 - 21,929.30
Matured interest payable - 4,013.50 - 4,013.50
Due to other funds 575,186.06 - - 575,186.08
Interfund loans payable 26,085.93 - - 26,085.93
Reserve for encumbrances 21,027.65 - - 21,027.65
Reserve for payment of
general obligation bonds 420,000.00 - - 420,000.00
Bonds payable in future
years 3,566,666.64 53,333.36 - 3,620,000.00
Contributions in aid of
construction (Note 1) 8,373,398.45 - - 8,373,398.45
City contributions to
water fund 92,607.51 - - 92,607.51
Fund balance 1,871,561.71 215,.545._00 2,087,106.71
TOTAL LIABILITIES,
RESERVES AND
FUND BALANCE $15.112,243.67 -$ 79.276.16 $ 215.545.00 ,,$15L 4�7.0
----
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. + See accompanying accountants' report and notes to financial statements,
-18-
CITY OF HUNTINGTON BEACH
STATEMENT OF CHANGES IN FUND BALANCES - WATER UTILITY FUNDS
For the year ended June 30, 1969
1963 Water
Revenue Bond
Interest and 1963 Water
Water Utility Redemption Revenue Bond
Fund Fund Reserve Fund Total
BALANCE, JULY 1, 1968 $ 1,450,652.66 $ - $ 206,726.25 $ 1,657,378.91
ADD:
Net income 386,236.38 - - 386,236.38
Interest income - - 8,318.75 8,818.75
Adjustment in reserve
for general obligation
bonds 66,850.00 - - 66,850.00
Reserve for encumbrances,
July 1, 1968 1,308.41 - - 1*308.41
Prior year adjustment
to fixed assets 1,342.11 _ - 1,342.11
TOTAL BALANCE
AND ADDITIONS 1.906.389.56 _ 215;545.00 2,I21.934.56
f
DEbUCT:
Reserve for encumbrances,
June 30, 1969 21,027.65 - - 21,027.65
Adjustments to prior
year's revenue 13i 800.20 13 800.20
TOTAL
DEDUCTIONS 34,827.85 342827.85
BALANCE, NNE 30, 1969 .fit 871.5¢1.71 S S 215_545.00 8.0 7.106.71
See accompanying accountants' report and notes to financial statements.
-19-
CITY OF HUNTINGTON BEACH
WATER UTILITY FUND
i�
STATEMENT OF INCOME
I
For the year ended .Tune 30, 1969 k
OPERATING REVENUE•':
Metered sales $ 1,459,012.97
Unmerered saLes 10471.10
Muni.cipal sales 5,372.28
Construction sales 10,207.33
• Irrigation sales 786.70
TOTAL OPERATING REVENUE 1.476.850.38
OPERATING EXPENSES:
source of supply:
Operation $ 1,657.95
Maintenance 320.59
Purchased water 225,889.26 227,867.80
Power and pumping:
Operation 6,452.91
Purchased power 49,136.75
Maintenance 2,205.17
Pumping tax _ 152,324.66 2109119.49
Water treatment:
Operation 12,636.20
,.� Plant maintenance 312.46 12,948.66
Transmission and distribution:
Operation 3,573.55
Maintenance 2*.0,385.07 j
Hydrant• maintenance 5,473.16
Valve maintenance 5,843.62
Service maintenance 2,661.62
Meter test and repair 20,911.96
Other 3,482.11 68,331.09
Customer accounting: ^�~
Meter reading 10,221.27
Billing 60,572.93
Collection expense 5,861.74
Other _ _ _ 328._16 76,984.10
Administration and general expense:
Supervisory salaries 15,424.52
Conferences and conventions 422.15
Office supplies 193.34
Utilities 8,018.33
Retirement 8,736.47
Maintenance 6.60
Uniform allowance 154.89
Dues and memberships 6.00 32,962.35
See accompanying accountants' report and notes to financial statements.
-20-
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CITY OF HUNTINGTON BEACH
WATER UTILITY FUND
STATEMENT OF INCOME
(Continued)
For the year ended June 30, 1969
OPERATING EXPENSES: (Continued)
• Other expense:
Refund .. SCW contract $ 8,666.99
Lease - San Joaquin Reservoir 1.01,703.02
Vehicle operation and maintenance 6,645.01
Depreciation (Note 1) 301,375.88
Logal expense 4,132.72
Other 3,473.83 �S 425,997i 45
TOTAL OPERATING EXPENSES 1,035,210..94
OPERATING INCO:.:' 421,639.44
NON-OPERATING REVENUE:
Tract fees 48,796.99
Acreage service fees 209114.37
Fire hydrant rentals 29*700.00
New services 22,232.11
Reimbursable services 2,350.00
• Interest earned 23,644.14
Diucounts earned 203.21
Other 7,883,83
TOTAL NON-OPERATING REVENUE 154,924.65
LESS NON-OPERATING EXPENSE:
Fiscal agent fees 1,172.78
Interest transferred to General Fund
on G. 0. Bonds 11,725.00
Interest on 1963 Revenue Bonds 132,525.32
I� Payments to City in lieu of taxes 44,306.11
i
Other 598.50
TOTAL NON•OPERATING EXPENSE 1902327.71
NET NON-OPERATING EXPENSE 35,403.06
NET INCOME S 386 z36.38
See accompanying accountants' report and notes to financial statements.
�2l«
Y
CITY OF 11UNTIFGTON BEACH
NOTE TO FINANCTAL STATEMENTS
June 30, 1969
1. The Water Utility Plant in Service is composed of the following assets:
Accumulated Net
• Cost Depreciation Hook Value
Assets acquired by City
at cost $ 6,796,695.89 $ 684,420.99 $ 69112,274.90
Assets contributed to City
by subdivideru, at
appriased value as estimated
by City personnel 3,227,508.02 224,648.79 8,002,859.23
TOTAL 1 S 024.203.91 1069 a A-11 4.13
2. The outstanding bonded debt of the City consists of the following:
1955 General Obligation Water Bonds with
interest rates, 2% to 3%. Maturing
annually on August 1 in installments
of $35,000 to 1980 $ 420.000.00
1963 Water Revenue Bonds, Series A,
3.25`J, to 4.75%. Maturing annually
on November 1 in installments as
follows:
1969 $ 80,000 1984-85 $ 320,000
1970-71 180,000 1986 170,000
1972-73 200,000 1987-88 360,000
1974-76 330,000 1989 190,000
1977-78 240,000 1990 200$000
1979-80 260,000 1991 210,000
1981 140,000 1992-93 40,000
1982-83 300,000
TOTAL .620 D0.0O
See accompanying accountants' report.
A
-22-
•
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SUPPLEMENTARY 1ITFOWATION
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CITY OF HUNTINGTON BEACH
SUPPLEMENTARY INFORMATION
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TREASURER'S CASH AND SHORT TERM INVESTMENT:
Treasurer's cash and investment balances at June 30, 1969 consist of
the following:
Demand Deposits:
Security First National [lank:
General Account $ 282,024.09
Water Account 100,243.72
United California Bank:
General Account 9,402.Ot
Special Assessment Fund 6,655.45
Treasurer's Trust Fun:l 89,430.26
Total Demand Deposits $ 487,755.53
Time Deposits:
Security First National Bank 2,343,071.48
United California Bank 1,300,000.00
Bank of America 1,100,000.00
Crocker-Citizens National Bank 975,000.00
Southern California First National Bank 1,075,000.00
U. S. National Bank —_1,075,000.00
Total Time Deposits 7,868,071.48
U. S. Tr::asury Bill, at cost 283,445.83
TOTAL TmNSURER'S CASH
It is required by the Government Code that banks holding funds of pub-
lic entities pledge with a trustee agency collateral. in the amount of 110% of
the public funds on deposit. We determined by direct correspondence with the
trustees of each of the City's depositories that adequate collateral had been
pledged.
REVENUE:
• Revenue of the General Fund totalled $6,958.944.68 for the year ended
June 30, 1969, an increase of $1,456,905.42 ever the previous year. A compar-
ative su=.ary statement of revenue follows: '
See accompanying accountants' report.
r �
-23- f
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Increase
1967-68 1968-69 _ (Decrease,
•f'�► $ 2,495,796.01 $ 2,864,690.64 $ 368,894.63
Property taxes 39,109.68 48,064.39 8,954.71
Water utility iu lieu taxes
154,345.08 193,970.80 39,625.72
Franchise
Sales and use taxes ? ,016,862.77 1,350,060.80 333,19E3. 3
26,064.20 27,220.42 1,156.22
Occupancy tax 232,469.07 319,525.15 87,056.08
Cigarette tax 142,169.99 1.56,534.03 14,364.04
Business licenses 482 300.64 51.9,495.84 37,195.20
Other licenses and permits
Pier and rentals and parking - -
lot collections 28,103.61 58,789.75 30,686.14
Real property transfer tax
Engineering, inspection and 193,640.78 238,541.50 44,900.72
plan check fees 691,177.43 1,182,051.36 490,873.93
All other sources -- --
TOTAL REVENUE 5 0 ` •2 ��'` f -
1963 WATER RFvF.NUE BONDS:
Water revenue bonds in the amount of $5,700,000.00 were approved by the
vote--s at an election held April 30, 1963, and on November 1, 1963, the City sold
1 a portion of the bonds amounting to $3,750,
OOO.00-
' +► Under the provisions of Resolution #1644, certain cash accounts were
established to assure the proper disposition of bond proceeds and provide for the
I repayment of such bonds in a systematic manner. Payments may be made from these
i
acca:.acs only as provided by law and the resolution mentioned above. Security
i
� pacific National Bank, Main Office, Los Angeles is fiscal agent for these bonds.
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1963 WATER REVENUE BOND INTEREST AND REDEMPTION FUND:
payments from this fund are restricted for payment of bond interest and
principal of tihe water revenue bonda.
The bond resolution requires that the fiscal agent set aside out of the
t,ond revenue fund at least cne-sixth of the semi-annual interest maturity each
month and at least one-twelfth of the bond principal that will mature and be pay-
able within the ensuring year.
r•`� See accompanying accounta.its' report.
-24-
1963 BOND RESERVE FUND:
?w� From the proceeds of the bond issue an amount of $175,000.00 (a aura
equal to the maximum annual debt service) was required to be set aside in a
i
Bond Reserve Fund. 11his fund is restricted solely to the payment of principal f
i
and interest on the bonds in the event that sufficient monies are not available �
from the Bond Interest and Redemption Fund. Any monies used out of the Bond
Reserve Fund for purposes within its restrictions, are to be repinced immed-
iately rrom the Bond Surplus or the Bond Revenue Fund.
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i
See accompanying accountants' report.
-25-
4