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Show KfHlDIT NO. 1 MURRAY CITY CORPORATION Balance Sheets (All Funds) at June 30, iftB Intra-Municip- ASSETS Cash (include $983,000 of Time Certificates of Deposit) Combined Total Municipal Utilities Water and Sewer Electric General Fund $1,221,841 $328,793 298,917 21,261 197,613 from other fund Inventories, at cost 227,766 179 227, 587 43,772 31,760 Investments, at cost 33,216 33.216 Receivables ( net) Due Work in $ 808,966 2, 260 process Plant, property and equipment, at cost: Municipal utilities and garage 4.825,761 2.233.926 n LIABILITIES. RESERVES. long-ter- Special Assessment Funds $19,343 $ 64, 083 2,268 Trust and Agency Fund 8 General Fixed Assets $8,321 15,960 12, 012 4, 057, 286 1.229.469 2,827,817 19,710 19,710 $2, 233,926 74.617 50, 120 59. 964 $3. 351.993 $3. 058. 394 $51. 065 68.778 72, 283 35, 000 $10,476 59.964 $350. 233 3,810 $2, 233,926 AND FUND BALANCES .............. Liabilities other than 1,978.234 128, 547 $9. 075. 970 4k 4, 104,225 2. 125.991 3. 355. 460 Amounts provided for retirement of bonds and payments of interest: Cash includes $55. 300 of Time Certificates of Deposit) Obligations of the United States Government, at cost 54,150 Service Funds 2.260 8,181,221 Less: Accumulated depreciation General fixed assets Note 2 $ al m: Accounts payable Bonds maturing within one Accrued interest Due to other funds Bonds payable in the future- -. Note 160. 055 3 year--No- te 3 Appropriations of surplus for City Hall renovations Reserve for encumbrances Contributions (to fund equity): Municipality's contributions (no change during year) Contributions in aid of construction Fund balances: Trust and Agency Funds Surplus: Unappropriated Earned Investment in fixed assets ..... .......... 78,900 11.454 227.766 1 , $ 1,856 21,600 $ 40, 000 574 200, 000 905, 000 5,000 50,833 $ 10,880 227,766 3,900 16,600 5, 000 50,833 681.473 681,473 255, 100 255. 100 1. 659 334, 671 ,913. 533 .233.926 $9. 075. 970 $6, 662 1. 659 297, 544 3, 042, 641 870,892 35, 589 1, 538 $2. 233.926 $350. 233 $3. 351.993 $3. 058.. 394 $51. 065 $22. 038 $2. 233.926 NOTES TO FINANCIAL STATEMENTS The financial statements of the following independent boards and agencies are not included herein: Murray City Boys and Girls Club, and Murray City Public Library. NOTE I: The City records its activities on a modified accrual basis in accordance with that prescribed in the "Uniform Accounting Manual for First and Second Class Cities" issued by the Utah State Tax Commission. Tax revenues are accounted for on a cash basis and most other revenue items and all expenditures are recorded on an accrual basis. With the exception of the Municipal Utility Funds, capital outlays are charged as expenditures in arriving at the excess of revenues over expenditures and concurrently included as additions to the "General Fixed Assets". No depreciation has been recognised with respect to the "General Fixed Assets". NOTE 1: NOTE 3: Bonds payable at June 30, 1968 consist of Municipal Electric Utility, series of January 1, 1959 Municipal Water and Sewer Utilities, series of September 1, 1952 Special Assessment Funds: District No. 4, series of November 29, 1962 District No. 5, series of August 29, 1963 . . serial bonds described as follows: Final Maturity Interest Rate 3.75 and 4 January 3.25 and 3.50 September 1, 1987 November 29, 1969 August 29, 1973 4. 50 4. 50 1, 1974 Balance, June 30. 1968 $240, 000 940, 000 12, 000 8. 500 |