HomeMy WebLinkAbout2000 Town Audit■
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KIRBY • BEALS • MAIER
Certified Public Accountants, PLLC
TOWN OF GROTON
FINANCIAL STATEMENTS
December 31, 2000
TOWN OF GROTON
Financial Statements
December 31, 2000
TABLE OF CONTENTS
IndependentAuditors' Report..........................................................................................................1
Combined Balance Sheet - All Fund Types and Account Groups...................................................2
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types.........................................................................3
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget & Actual - General and Special Revenue Funds..................................4
Notes to the Financial Statements....................................................................................................5
Independent Auditors' Report on Additional Information............................................................14
Combining Balance Sheet - General Fund.....................................................................................15
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances - General Fund...................................................................................................16
Combining Balance Sheet - Special Revenue Funds.....................................................................17
Combining Statement of Revenues, Expenditures and Changes
in Fund Balances - Special Revenue Funds...................................................................................18
KIRBY • BEALS • MAIER
Certified Public Accountants, PLLC
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Supervisor and Town Board
Town of Groton
Groton, New York
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INDEPENDENT AUDITORS' REPORT
221 W. Church St.
Elmira, NY 14901-2917
607-733-5548
Fax 607-737-1996
kbmcpa@exotrope.net
We have audited the accompanying general purpose financial statements of the Town of Groton,
New York, as of December 31, 2000, and for the year then ended, as listed in the table of contents.
These general purpose financial statements are the responsibility of the Town's management. Our
responsibility is to express an opinion on these general purpose financial statements based on our
audit.
We conducted our audit in accordance with the auditing standards generally accepted in the United
States of America. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the general purpose financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in
the general purpose financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management as well as evaluating the overall
general purpose financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
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In our opinion, the general purpose financial statements referred to above present fairly, in all
material respects, the financial position of the Town of Groton as of December 31, 2000, and the
results of its operations for the year then ended in conformity with accounting principles generally
accepted in the United States of America.
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KIRBY • BEALS • MAIER
Certified Public Accountants, PLLC
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September 5, 2001
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Assets
Unrestricted cash
Restricted cash
Prepaid expenses
Other receivables, net
Fixed assets
Provision to be made in future
budgets
Liabilities and Equity
Liabilities
Accounts payable
Accrued liabilities
Compensated absences
Agency liabilities
Deferred revenue
Total liabilities
Equity
Investment in general fixed assets
Fund balances -reserved
Encumbrances
Capital equipment
Unemployment insurance
Excess dog control revenues
Retirement system credits
Total fund balances -reserved
Fund balances -unreserved
Appropriated -
ensuing years budget
Unappropriated
Total fund balances -unreserved
Total fund balances
TOWN OF GROTON
Combined Balance Sheet
All Fund Tvnes and Account Groung
December 31. 2000
Fiduciary
Governmental Fund Types Fund Type
Special Capital Trust and
General Revenue Projects Agency
$ 377,232 $ 624,710 $ 1,683
9,317 53,210
5,470
126,961
$ 392,019 $ 804,881
$ 5,927 $ 16,855
872 8,372
126,961
6,799 152,188
3,000 177,775
53,209
9,317
14,973
5,470
32,760 230,984
35,000
55,000
317,460
366,709
352,460
421,709
385,220
652,693
$ 392,019 $
804,881
Account Groups
General Long -Term
Fixed Assets Debt
$ 2,418,799
$ 44,674
$ 1,683 $ 2,418,799 $ 44,674
$ 44,674
$ 1,683
1,683 44,674
$ 2,418,799
2,418,799
2,418,799
$ 1,683 $ 2,418,799 $ 44,674
The accompanying notes are an integral part of these financial statements.
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TOWN OF GROTON
Combined Statement of Revenues. Exnenditures and Chances in
Fund Balances - All Governmental Fund Tvties
For The Year Ended December 31. 2000
Governmental Fund Types
Special Capital
General Revenue Projects
Revenues and other sources
Revenues
Real property taxes
Real property tax items
52,500
Non -property tax items
Departmental income
62,779
246,425
Intergovernmental charges
313,124
377,375
Use of money and property
91317
28,893
Licenses and permits
17,985
652,693 $
Fines and forfeitures
14,245
Sale of property and
compensation for loss
645
3,780
Miscellaneous local sources
1,092
1,147
State aid
59,700
81,359
Federal aid
95,806
491,737
940,679
Other sources
Operating transfers
142,995
Retirement system credits
(407)
4911330
1,083,674
Expenditures
General government support
221,991
Public safety
13,097
66,000
Public health
60,000
Transportation
45,090
594,022
Economic assistance and
opportunity
6,653
Culture and recreation
19,741
Home and community services
29,623
86,706
Employee benefits
32,356
38,021
428,551
784,749
364,307 $ 6369825
4,598
917
2,961
4,450
20,837 121,762 $ 81035
Other uses
Operating transfers
52,500
Revenues and other sources over
(under) expenditures
62,779
246,425
Fund balances, beginning of year
313,124
377,375
Residual equity transfer
91317
28,893
Fund balances, end of year
$ 385,220 $
652,693 $
The accompanying notes are
an integral part of these financial statements.
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8,035
52,500
60,535
142,995
(82,460)
120,670
(38,210)
TOWN OF GROTON
_Combined Statement of Revenueg_ Expenditures and Changes in
Fund Balances - Budget & Actual - General and Special Revenue Fund5-
For The Year End December 31. 2000
The accompanying notes are an integral part of these financial statements.
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Governmental Fund Types
Governmental Fund Types
General Fund
Special Revenue
Variance
Variance
Modified
favorable
Modified
favorable
Budget
Actual
(unfavorable)
Budget
Actual
(unfavorable)
Revenues and other sources
Revenues
Real property taxes $
364,307
$ 364,307
$
636,825 $
636,825
Real property tax items
4,650
4,598 $
(52)
Non -property tax items
1,000
917
(83)
Departmental income
1,725
2,961
1,236
Intergovernmental charges
4,450
4,450
Use of money and property
10,500
20,837
10,337
99,282
114,765 $
15,483
Licenses and permits
10,900
17,985
7,085
Fines and forfeitures
7,000
14,245
7,245
Sale of property and
compensation for loss
25
645
620
4,780
3,780
(1,000)
Miscellaneous local sources
1,092
1,092
1,147
1,147
State aid
52,600
59,700
7,100
79,513
81,359
1,846
Federal aid
457,157
491,737
34,580
820,400
837,876
17,476
Other sources
Operating transfers
142,995
142,995
Retirement system credits
(407)
(407)
457,157
491,330
34,173
963,395
980,871
17,476
Expenditures
General government support
254,083
221,991
32,092
Public safety
15,126
13,097
2,029
66,000
66,000
Public health
60,100
60,000
100
Transportation
47,186
45,090
2,096
857,270
594,022
263,248
Economic assistance and
opportunity
7,000
6,653
347
Culture and recreation
29,703
19,741
9,962
Home and community services
34,764
29,623
5,141
Employee benefits
49,700
32,356
17,344
62,225
38,021
24,204
497,662
428,551
69,111
985,495
698,043
287,452
Other uses
Operating transfers
52,500
52,500
Revenues and other sources over
(under) expenditures
(40,505)
62,779 $
103,284
(74,600)
230,328 $
304,928
Net change in unbudgeted special
revenue funds
6,780
Appropriated fund balance
40,505
74,600
Fund balances, beginning of year
313,124
377,375
Residual equity transfer
9,317
38,210
Fund balances, end of year $
$ 385,220
$
$
652,693
The accompanying notes are an integral part of these financial statements.
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■ TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
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1. Summary of significant accounting policies
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The financial statements of the Town of Groton have been prepared in conformity with
generally accepted accounting principles (GAAP) as applied to government units. The
Governmental Accounting Standards Board (GASB) is the accepted standard setting body for
establishing governmental accounting and financial reporting principles. The Town's more
significant accounting policies are described below.
A. Reporting entity
The Town of Groton, which was established in 1817, is governed by the Town Law and
other general municipal laws of the State of New York and various local laws. The Town
Board is the legislative body responsible for overall operations. The Town Supervisor
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serves as chief executive officer and chief fiscal officer.
The following basic services are provided by the Town: fire protection, highways and
streets, recreation, public improvements, planning and zoning, and general administration.
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All governmental activities and functions performed for the Town of Groton are its direct
responsibility. No other governmental organizations have been included or excluded
from the reporting entity.
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The financial reporting entity consists of (a) the primary government which is the Town
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of Groton (b) organizations for which the primary government is financially accountable,
and (c) other organizations for which the nature and significance of their relationship with
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the primary government are such that exclusion would cause the reporting entity's general
purpose financial statements to be misleading or incomplete as set forth in GASB
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Statement 14.
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The decision to include a potential component unit in the Town's reporting entity is based
on several criteria set forth in GASB 14 including legal standing, fiscal dependence, and
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financial accountability. Based on the application of these criteria, no other organizations
have been included or excluded from the reporting entity.
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B. Fund accountinp,
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The accounts of the Town are organized on the basis of funds or account groups, each of
which is considered a separate accounting entity. The operations of each fund are
accounted for within a separate set of self -balancing accounts that comprise its assets,
liabilities, fund balance, revenues and expenditures which are segregated for the purpose
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of carrying on specific activities or attaining certain objectives in accordance with special
regulations, restrictions or limitations. The various funds are summarized by type in the
general purpose financial statements. The following fund types and account groups are
used:
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TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
1. Summary of significant accounting policies (continued)
Governmental fund types
Governmental funds are those through which most governmental functions of the Town
are financed. The acquisition, use and balances of expendable financial resources and the
related liabilities are accounted for through governmental funds. The measurement focus
of the governmental funds is based upon determination of financial position and changes
in financial position. The following are the Town of Groton's governmental fund types:
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a. General fund
The general fund is the principal operating fund and includes all operations not
required to be recorded in other funds.
The general fund, part town is used to record transactions which are required to be a
charge on the area of the town outside the village.
b. Special revenue funds
These funds account for the proceeds of specific revenue sources that are legally
restricted to expenditure for specified purposes. The following Special Revenue
Funds are utilized:
- Highway Funds - (Townwide and Parttown) established pursuant to Highway Law,
Section 141, and used to account for revenues and expenditures for highway
purposes. Highway Law, Section 277, requires that expenditures for repairs and
improvements be financed by the area outside the village. Therefore, a town with a
village must maintain two highway funds.
- Special District Funds - (Lighting District and Fire Protection District) are used to
i record transactions for operations and maintenance for these activities.
- Risk Retention - established for unemployment reserves held by the Town for
reimbursement to the state for claims filed by former employees. This fund was
closed in the 2000. The unemployment reserve is now included in the General Fund.
- Special Grant Fund - used to account for Community Development Block Grants.
i c. Capital projects funds
The capital projects fund is used to account for and report financial resources to be
used for the acquisition, construction or renovation of major capital facilities, or
equipment.
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TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
1. Summary of significant accountins4 policies (continued)
Fiduciary fund type
Trust and agency funds
These funds account for money and/or property received and held in the capacity of
trustee, custodian or agent. These include agency funds.
Account s4roups
Account groups are used to establish accounting control and accountability for general
fixed assets and general long-term debt. The two account groups are not "funds". They
are concerned only with the measurement of financial position, and not results of
operations.
a. General fixed assets account group
These funds account for land, buildings, improvements other than buildings, and
equipment utilized for general government purposes.
b. General long-term debt account group
These funds account for all the long-term debt of the Town.
C. Basis of accounting
Governmental funds
Governmental funds are accounted for on the modified accrual basis. Under this basis,
revenues are recognized when received except for revenues which are susceptible to
accrual (measurable and available to finance current operations) and revenues of a
material amount that have not been received at the normal time of receipt. Such revenues
are accrued when earned. In those instances where expenditures are the prime factor in
determining eligibility for State and Federal grants, revenues are recognized when the
expenditures are incurred.
Expenditures are generally recognized when liabilities are incurred. Exceptions to this
general rule include:
(a) expenditures for prepaid expenses and inventory -type items are recognized at the time
of purchase;
(b) accumulated unpaid vacation and sick pay are not accrued and the non-current portion
of retirement expense is not recognized until billed and paid;
(c) principal and interest on indebtedness are recognized when due;
(d) pension costs are recognized as an expenditure when billed by the state.
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TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
1. Summary of significant accounting policies (continued)
Fiduciary funds
Fiduciary Funds, such as trust and agency fund transactions are accounted for on a
modified accrual basis.
Account izroups
General fixed assets are recorded at actual cost or estimated cost, with the exception of
land and buildings, which are recorded at appraised value or, in the case of gifts and
contributions, at the fair market value at the time received. No provision for depreciation
is made. General long-term debt liabilities are recorded at the par value of the principal
amount. No liability is recorded for interest payable to maturity.
D. Property taxes
Real property taxes are levied annually by the Town of Groton no later than January 1,
and become a lien on January 1. Taxes are collected during the period January 1 to May
31.
The County of Tompkins in which the Town is located subsequently enforces uncollected
real property taxes. The County pays an amount representing uncollected real property
taxes transmitted to the County for enforcement to the Town no later than May 31.
E. Budgets and budvetary accountinv,
Budget policies - The budget policies are as follows:
a. No later than October 515 a tentative budget is submitted by the budget officer for the
fiscal year commencing the following January 1. The tentative budget includes
proposed expenditures and the proposed means of financing for all funds.
b. After public hearings are conducted to obtain taxpayer comments, no later than
November 20 the Town Board adopts the budget.
c. The Town Board must approve all modifications of the budget.
d. Appropriations lapse at year-end.
TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
1. Summary of sivnificant accounting policies (continued)
Encumbrances
Encumbrance accounting, under which purchase orders, contracts and other commitments
for the expenditure of monies are recorded for budgetary control purposes to reserve that
portion of the applicable appropriations, is employed in the Governmental Funds.
Encumbrances are reported as reservations of fund balances since they do not constitute
expenditures or liabilities. Expenditures for such commitments are recorded in the period
in which the liability is incurred.
Budget basis of accountin4
Budgets are adopted annually on a basis consistent with generally accepted accounting
principles. Appropriations authorized for the current year are increased by the amount of
encumbrances carried forward from the prior year.
Budgetary controls for the special grant fund are established in accordance with the
applicable grant agreement, which covers a period other than the Town of Groton's fiscal
year.
Consequently, the budgets for this fund have been excluded from the Combined
Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual.
In addition, the Risk Retention Fund has been excluded from the Combined Statement of
Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual, because
there is no legally adopted annual budget. The following schedule reconciles the
difference between the two statements.
Fund
Fund
Balance Residual
Balance
Beginning Equity
End
of Year Revenues Expenses Transfer
of Year
Total for funds included
in budget comparison $ 316,120 $ 980,871 $ 750,543 $ 38,210 $ 584,658
Funds not included in
budget comparison
Special grant 529418 10210323 861706 681035
Risk retention 8,837 480 (9,317) 0
Total special revenue
funds $ 377,375 $ 103,674 $ 8371249 $ 28,893 $ 652,693
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r TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
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1. Summary of significant accountinz policies (continued)
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F. Property, plant and equipment - fzeneral
Fixed assets purchased for general governmental purposes are recorded as expenditures in
r the governmental funds and are capitalized at cost in the general fixed asset account group.
Contributed fixed assets are recorded at fair market value at the date received.
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Fixed assets consisting of certain infrastructure type improvements other than buildings,
r including roads, bridges, curbs and gutters, streets and sidewalks, drainage and lighting
systems, have not been capitalized. Such assets normally are immovable and of value only
to the Town of Groton. Therefore, the purposes of stewardship for capital expenditures can
be satisfied without recording these assets.
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No depreciation has been provided on general fixed assets, nor has interest on general fixed
r assets construction in progress been capitalized.
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G. Vacation and sick leave and compensatory absences
Town of Groton employees are granted vacation and sick leave in varying amounts. In the
event of termination or upon retirement, an employee is not entitled to payment for
accumulated vacation time. However, sick leave can be accrued up to 720 hours which is
payable upon termination or retirement.
The value of unused employee sick leave at year-end has been recorded in the General Long -
Term Debt Account Group.
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Payment of sick leave recorded in the General Long -Term Debt Account group is dependent
upon many factors; therefore, timing of future payments is not readily determinable.
However, management believes that sufficient resources will be made available for the
r payments of sick leave when such payment becomes due.
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In addition, the Town recognizes a liability for vesting sick leave and other compensated
absences with similar characteristics and additional salary -related payments as employees
earn benefits and to the extent it is probable that the Town will compensate the employees
for the benefits through cash payments (which may be conditioned on the employees'
termination or retirement), rather than be taken as absences due to illness or other
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contingencies.
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The liability for compensated absences is calculated at rates in effect as of the balance sheet
date and is recorded in the governmental funds is as much as it will be funded from current
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financial resources, and the general long-term debt account group for amounts to be paid
from future financial resources.
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TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
2. Cash and investments
The Town of Groton's investment policies are governed by State of New York statutes. In
addition, the Town of Groton has its own written investment policy. The Town of Groton's
monies must be deposited in FDIC -insured commercial banks or trust companies located within
the state. The Supervisor is authorized to use demand accounts and certificates of deposit for
operating purposes. Permissible investments include obligations of the U.S. Treasury and U.S.
Agencies, repurchase agreements, and obligations of New York State or its localities.
Collateral is required for demand and time deposits and certificates of deposit not covered by
Federal Deposit Insurance. Obligations that may be pledged as collateral are obligations of the
United States and its agencies and obligations of the state and its municipalities and school
districts.
The written investment policy requires repurchase agreements to be purchased from banks located
within the state. The underlying securities must be obligations of the Federal government.
Underlying securities must have a market value of at least 105 percent of the cost of the
repurchase agreement.
Deposits and investments at year-end were entirely collateralized by Federal Deposit Insurance or
by collateral held by the Town of Groton's custodial bank in the Town of Groton's name. In the
financial statement all deposits including certificates of deposit are carried at cost plus accrued
interest.
Total adjusted bank balances as of December 31, 2000 were $1,066,152.
3. Summary of changes in general fixed assets
Land
Buildings
Machinery & Equipment
4. Other receivables
Balance Balance
12/31/99 Additions Deletions 12/31/00
$ 563,000 $ 563100
7301059 730,059
1,1431539 $ 11,525 $ 29,324 1,125,740
$ 2436,598 $ 111525 $ 29,324 $ 24181799
Other receivables at December 31, 2000 consisted of the following, which are stated at net
realizable value. The Town has deemed the amounts to be fully collectible.
Fund Description Amount
Special Grant Rehabilitation loans $ 126,961
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TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
5. Emplovees' retirement
Plan description
The Town of Groton participates in the New York State and Local Employees' Retirement
System (ERS). This is a cost sharing multiple public employer retirement system. Obligations of
employers and employees to contribute and benefits to employees are governed by the New York
State Retirement and Social Security Law (NYSRSSL). The State comptroller is sole trustee and
administrative head of the System.
The Comptroller shall adopt and may amend rules and regulations for the administration and
transaction of the business of the Systems and for the custody and control of their funds. The
Systems issues a publicly available financial report that includes financial statements and required
supplementary information. That report may be obtained by writing to the New York State and
Local Retirement Systems, Gov. Alfred E. Smith State Office Building, Albany, New York
12244.
Fundinv, policy
The System is noncontributory except for employees who joined the New York State and Local
Employees' Retirement System after July 27, 1976 who contribute 3% of their salary. Under the
authority of the NYSRSSL, the Comptroller shall certify annually the rates expressed as
proportions of payroll of members, which shall be used in computing the contributions required to
be made by employers to the pension accumulation fund.
The Town of Groton is required to contribute at an actuarial determined rate. The required
contributions for the current year and two preceding years were:
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2000 $ 792
1999 $ 484
1998 $ 784
The Town's contributions made to the System were equal to 100 percent of the contributions
required for each year.
Since 1989, the System's billings have been based on Chapter 62 of the Laws of 1989 of the State
of New York. This legislation requires participating employers to make payments on a current
basis, while amortizing existing unpaid amounts relating to the System's fiscal years ending
March 31, 1988 and 1989 (which otherwise were to have been paid on June 30, 1989 and 1990,
respectively) over a 17 -year period, with an 8.75% interest factor added. Local governments were
given the option to prepay this liability. The Town of Groton elected to make the full payment on
December 15, 1989.
Historical trend information showing the progress in accumulating sufficient assets to pay
benefits when due is presented in the Annual Financial Report of the System. Additional detailed
information concerning the System may also be found in the Report.
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TOWN OF GROTON
Notes to Financial Statements
December 31, 2000
6. Lone -term debt
The Town of Groton has compensated absences outstanding as of December 31, 2000 in the
amount of $44,674 compensated absences represents the value of earned and unused portion of
accumulated sick leave.
7. Fund equity -reserves
The following reserves existed at December 31, 2000 for the following purposes:
Fund
General
—Town wide
General
—Town wide
General
-Town wide
General
-Town wide
Highway
— Town wide
Highway
— Town wide
Highway
— Town wide
Highway
— Town wide
Highway
- Part town
8. Residual equity transfer
Purpose
Amount
Encumbrance dog enumeration $
1,000
Encumbrance - Reclamation gravel pit
200
Unemployment reserve
915317
Excess dog control revenues
141,973
Encumbrance bridge guard rail
300
Encumbrance snow plow truck
1421990
Encumbrance snow plow truck
21,785
Capital equipment reserve
53,209
Encumbrance bridge approach
1000
$ 258,274
The risk retention fund, which accounts for unemployment reserves held by the Town, was closed
out during the year and transferred to the General Fund in the amount of $9,317.
Funds which were included in the capital projects fund in the amount of $3 8,210 were transferred
to the Town -wide Highway Fund and set up as a capital reserve.
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KIRBY • BEALS • MAIER
Certified Public Accountants, PLLC
INDEPENDENT AUDITORS' REPORT ON
ADDITIONAL INFORMATION
Supervisor and Town Board
Town of Groton
Groton, New York
221 W. Church St.
Elmira, NY 14901-2917
607-733-5548
Fax 607-737-1996
kbmcpa@exotrope.net
Our report on our audit of the general purpose financial statements of the Town of Groton for 2000
appears on page 1. That audit was made for the purpose of forming an opinion on the general purpose
financial statements taken as a whole. Additional information included on pages 15 through 18 is this
report is presented for purposes of additional analysis and is not a required part of the general purpose
financial statements. Such information has been subjected to the auditing procedures applied in the
audit of the general purpose financial statements and, in our opinion, is fairly stated in all material
respects in relation to the general purpose financial statements taken as a whole.
KIRBY • BEALS • MAIER
Certified Public Accountants, PLLC
September 5, 2001
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TOWN OF GROTON
Combining Balance Sheet
General Fund
December 31. 2000
Town -Wide Part -Town Total
Assets
Unrestricted cash $ 314,448 $ 62,784 $ 3771232
Restricted cash 99317 9,317
Prepaid expenses 5,470 51470
$ 329,235 $ 62,784 $ 3929019
Liabilities and fund equity
Liabilities
Accounts payable $
51,686 $
241 $
51,927
Accrued liabilities
762
110
872
Total liabilities
61448
351
61799
Fund balances -reserved
Reserve for unemployment
9,317
99317
Reserve for encumbrances
3,000
3,000
Reserve for excess dog control revenues
14,973
141973
Reserve for retirement system credits
51470
59470
Total fund balances -reserved
32,760
329760
Fund balances -unreserved
Appropriated for ensuing year's budget
259000
101,000
359000
Unappropriated
265,027
52,433
3179460
Total fund balances -unreserved
2909027
629433
35210460
Total fund balances
322,787
62,433
3851,220
$
329,235 $
629784 $
3929019
See independent auditors' report on additional information.
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See independent auditors' report on additional information.
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TOWN OF GROTON
_Combining Statement
of Revenues. Exnenditures
and Chanees in
Fund Balances - General Fund
For The
Year Ended December 31. 2000
Town-Wide
Part-Town
Total
Modified Budget
Actual
Modified Budget
Actual
Modified Budget
Actual
Revenues and other sources
Revenues
Real property taxes
$ 269,441 $
269,441
$ 94,866 $
94,866
$ 364,307 $
364,307
Real property tax items
4,650
4,598
4,650
4,598
Non-property tax items
1,000
917
1,000
917
Departmental income
1,400
2,154
325
807
1,725
2,961
Intergovernmental charges
3,600
3,600
850
850
4,450
4,450
Use of money and property
8,500
17,281
2,000
3,556
10,500
20,837
Licenses and permits
8,500
11,248
2,400
6,737
10,900
17,985
Fines and forfeitures
7,000
14,245
7,000
14,245
Sale of property and
compensation for loss
25
645
25
645
Miscellaneous local sources
1,067
25
1,092
State aid
52,600
59,700
52,600
59,700
355,716
383,979
101,441
107,758
457,157
491,737
Other sources
Operating transfers
Retirement system credits
(407)
(407)
355,716
383,572
101,441
107,758
457,157
491,330
Expenditures
General government support
249,709
221,866
4,374
125
254,083
221,991
Public safety
15,126
13,097
15,126
13,097
Public health
100
60,000
60,000
60,100
60,000
Transportation
47,186
45,090
47,186
45,090
Economic assistance and
opportunity
7,000
6,653
7,000
6,653
Culture and recreation
19,000
9,262
10,703
10,479
29,703
19,741
Home and community services
2,700
563
32,064
29,060
34,764
29,623
Employee benefits
45,400
29,716
4,300
2,640
49,700
32,356
386,221
326,247
111,441
102,304
497,662
428,551
Revenues and other sources over
(under) expenditures
(30,505)
57,325
(10,000)
5,454
(40,505)
62,779
Appropriated fund balance
30,505
10,000
40,505
Net (decrease)
$
57,325
$
5,454
$
62,779
Fund balance, beginning of year
256,145
56,979
313,124
Residual equity transfer
9,317
9,317
Fund balance, end of year
$
322,787
$
62,433
$
385,220
See independent auditors' report on additional information.
-16-
Assets
Unrestricted cash
Restricted cash
Due from other governments
Other receivables, net
Liabilities and fund equity
Liabilities
Accounts payable
Accrued liabilities
Deferred revenue
Total liabilities
Fund balances -reserved
Reserves for encumbrances
Reserves for capital equipment
Reserves for unemployment insurance
Total fund balances -reserved
Fund balances -unreserved
Appropriated for ensuing year's budget
Unappropriated
Total fund balances -unreserved
Total fund balances
TOWN OF GROTON
Combinine Balance Sheet
Special Revenue Funds
December 31, 2000
Highway Highway
Town -Wide Part -Town
Lighting Special
District Grant Fund Total
$ 423,114 $ 111,734 $ 21,827 $ 68,035 $ 624,710
53,210 53,210
1261961 126,961
$ 476,324 $ 111,734 $ 21,827 $ 194,996 $ 804,881
$ 11,872 $
4,567 $
416
$
16,855
81,372
8,372
$
126,961
126,961
205244
4,567
416
1265961
152,188
167,775
10,000
177,775
53,209
53,209
220,984
10,000
230,984
353000
205000
55,000
2005096
771,167
215411
685035
366,709
235,096
97,167
21,411
683,035
421,709
456,080
1071,167
215411
68,035
6529693
$ 476,324 $
111,734 $
21,827 $
194,996 $
804,881
See independent auditors' report on additional information.
-17-
a N a 0 0 N N N N 0 0 N 0 0 0 0 N 0 N a a 0 9 In a N 0 0 0 N 0 N
TOWN OF GROTON
Combining Statement of Revenues_ Expenditures and Changes in
Fund Balances - Special Revenue Funds
For The Year Ended December 31. 2000
See independent auditors' report on additional information.
-18-
Fire Protection
Special
Risk
Highway Town -Wide
Highway Part -Town
Lighting District
District
Subtotal
Grant
Retention
Total
Budget
Actual
Budget
Actual
Budget
Actual
Budget
Actual
Budget
Actual
Actual
Actual
Actual
Revenues and other sources
Revenues
Real property taxes
$ 415,510 $
415,510 $
149,315 $
149,315 $
6,000 $
6,000 $
66,000 $
66,000 $
636,825 $
636,825
$
636,825
Departmental income
Use of money and property
94,782
104,815
4,500
8,585
1,365
99,282
114,765 $
6,517
$ 480
121,762
State aid
79,513
81,359
79,513
81,359
81,359
Federal aid
95,806
95,806
Miscellaneous local sources
1,147
1,147
1,147
Sale of property
4,780
3,780
4,780
3,780
3,780
515,072
525,252
233,328
239,259
6,000
7,365
66,000
66,000
820,400
837,876
102,323
480
940,679
Other sources
Operating transfers
142,995
142,995
142,995
142,995
142,995
658,067
668,247
233,328
239,259
6,000
7,365
66,000
66,000
963,395
980,871
102,323
480
1,083,674
Expenditures
Public safety
66,000
66,000
66,000
66,000
66,000
Transportation
588,906
352,324
262,364
236,719
6,000
4,979
857,270
594,022
594,022
Home and community services
86,706
86,706
Employee benefits
47,761
28,442
14,464
9,579
62,225
38,021
38,021
636,667
380,766
276,828
246,298
6,000
4,979
66,000
66,000
985,495
698,043
86,706
784,749
Other uses
Operating transfers
52,500
52,500
52,500
52,500
52,500
Revenues and other sources over
(under) expenditures
(31,100)
234,981
(43,500)
(7,039)
2,386
(74,600)
230,328
15,617
480
246,425
Appropriated fund balance
31,100
43,500
74,600
Net increase
$
234,981 $
(7,039) $
2,386 $
$
230,328
15,617
480
246,425
Fund balance, beginning of year
182,889
114,206
19,025
316,120
52,418
8,837
377,375
Residual equity transfer
38,210
38,210
(9,317)
28,893
Fund balance, end of year
$
456,080
$
107,167
$
21,411
$
$
584,658 $
68,035
$ $
652,693
See independent auditors' report on additional information.
-18-