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Show - . IEGAL NOTICE IEGAI NOTICE LEGAL NOTICE LEGAL NOTICE . I submit herewith a report of the financial condition of Provo City, Utah at the close of business on June 30, 1962. The report submitted herewith covers th& six month period from January 1, 1962 to June 30, 1962 m conformance with Section of the said Fiscal Procedures Act. The financial records of Provo City have been independently aud- - 30,! 1962 Sept. LEGAL NOTICE LEGAL NOTICE TO THE CITIZENS OF PROVO CITY, UTAH SUNDAY HERALD AE.BEf the firm of Gardner Certified Public ' - -- j ited py Olsen, countants of Provo City, Utah. ana-Squ- ire, 10-10-- zb of the Municipal Pursuant to the provisions of Section Fiscal Procedures Act, as enacted by the J.961 Utah State Legislature 10-10-- 75 4 UNDER OR (OVER)j . BUDGET 53,800.00 r... 51,681 72 191,688.44 $ 128,000.00 ( ( 3.128M5) 1.43 ( 220,727.67 . 2,118.28, 63,688.44) 3,040.80) 7,719.33 $ 78,240.80 46,280.67 5,251.15 40,473.57 72,970.66 75,200.00 54,000.00 2,125.00 40,475.00 71,850.00 218,400.00 -- Class "B" and "C" Road Fund Police Pension Fund Employees Comp'sation Fund BUDGET ACTUAL Revenues: Taxes Revenues: . Property Taxes Other Taxes ........... . Licenses and Permits "? and Penalties Forfeitures Fines, Revenue from Use of Money and Property Revenue from Other Ageencies Charges for Current Service -- . 1 Contributions from Active Funds-... Sale of Fixed Assets ... .. - PKOVO CITY CORPORATION STATEMENT OF REVENUES AND EXPENDITURES SPECIAL FUNDS SIX MONTHS ENDED JUNE 30, 1962 Improvement Special Swimming Trust Pool Guaranty Library Airport . Fund Fund Fund Fund Fund GENERAL FUND PROVO CITY CORPORATION COMPARATIVE STATEMENT OF REVENUES AND EXPENDITURES j IN COMPARISON WITH BUDGET ESTIMATES SIX MONTHS ENDED JUNE 30, 1962 1,120.66) 2,327.67) 49,750.00) ( 49,750.00 ( . : . $ 1,564.53 . Contributions ... Federal, State and County Payments .... Transfer from Other Funds r. Principal Assessments Interest on Assessments Interest on Investments Service and Rental Receipts . ..... Fees and Sales of Books Other Revenue .... Ac Respectfully submitted, Provo City Auditor. TERRY J. OLDROYD. 1 , 7A 4,699.40 3,824.04 578.01 '. 72 030.58 1,574.43 10.000.00 7,100 00 103,367.29 15,187 92 1,262.08 336.64 .50 321 55 37.28 475.00 1,682.45 45 00 5.03 13,863.49 2,091.74 1,896.88 265,00 9,831.45 4,000.00 i TOTAL REVENUES 643,850.00 ......... Expenditures: General Government ; Public Safety . Public Works Public Health Planning and Engineering ... Parks and Recreation , Debt Service 757,064.68 170,849.67 221,263 69 134,689 28 153,335.00 236,118.00 132,492.00 5,175.00 27,660.00 117,410.00 51,962.00 . . ( j 14,854.31 ( 110,29.62 . 50,310 50 2,143.04 Expenditures: :. : Benefit Payments Maintenance of Streets New Equipment Purchases Supplies and Expense . Interest on Bonds 17,514.67) ( 5,139.90 22,657.10 . Total Revenue 113,214.68) 2,197.28) 35.10 5,002.90 7,180.38 1,652.50 Excess or (Deficiency) of Receipts Over Expenditures $ 80,303.00) ($ ' $ 364,849.49 11 Total Electric Energy Sales ...... Forfeit Discounts and Penalties Interest on Investments Revenues: Metered Sales Flat Rate Saaes Service Installation Other 426,736.18 . '" .... Revenues Over Expenditures 1,087.41 Other 10,460.51 Total Generation Expense Transmission Expense Distribution Expense Operations Maintenance Other Distribution Expense 39,523.32 Total Operating Expenditure Net Income 305,676.79 $ 97,250 78 30,364 98 32,566.51 ($ 16,501 49) ($ .......... . ....... i...... ... SANITATION Revenues: . j. Total Expenses Net Income 4,702.07 2,963.24 47 313.78 $ 2.757.68 ($ .. $ t 21,224.76 14,550. or 62,174.54 $ Net Loss ($, .' 1,27 06 40,583.72 $ 3,803.92 2,669.17 620.03 1,232.19 180.15 50,386.24 Expense Maintenance Expense 2,721.11) ' Supervision Maintenance of Trucks ........... Total Maintenance Expense' Other Expense Insurance Depreciation Provision for 132,784.29 6,341.03 : 23.319 21 54,322.78 1,254 00 1,689.57 2,943.51 307 68 - 7,209.85 Uncollectible Accounts.. Provision for ' Injuries and Damages .. General Ofice Salaries Special Services ..; 60.00 Retirement Fund 112,400.87 Contribution i 300.00 277.00 100.00 J 3,334.48 Maintenance 39,523.75 5,874.57 Communication System Employees' Welfare Expense and Pension 81,596.78 12,620.69 Total Expense $ 193,980.29 .... 968 80 Total Other Expense.. 659,869.57 . 62.88 65,950.50 Net Income r 4,158.96 PROVO CITY CORPORATION BALANCE FUNDS SHEET BY ' ' ASSETS e JUNE General Fund Total All Funds Cash on Hand and in Banks Investment in United States Bonds t Accounts Receivable: .. Taxes County Treasurer ...... . Special Sewers Receivable Accounts Sundry ' Electric, Water, Sewer and Waster Removal ... . Tax Sale Deeds Districts Unden Construction Contracts .Receivable . Special Improvement Assessment Due from Other Funds Inventories Materials and Supplies Accrued Interest on Government Bonds .. Fixed Assets: Irrigation System and Water Rights Streets, Sewers and Improvements Buildings and Land Parks and Playgrounds Automobiles and Equipment FurnituTe and Fixtures and Equipment Parking Meters ... 505,962.72 $ 152,542.92 234,109 75 Electric ' Department $ 100,729.03 855,710.83 30, 1962 Sewage Disposal and Waterworks Department Sanitation Departments $ $ 61,238.38 . 54,911.83 Net. . 188,979.38 6,499.44 479,260.85 43,051.55 443,453.88 2,626,403.06 1,045,376.05 486,124.54 573,175.28 126,592.19 75,954 72 196,088.51 56,117.68 .L ' TOTAL LIABILITIES AND SURPLUS ! .. 2,623,996.14 2,701,427.34 1,543,617.74 803.92 $ 2,968,581.36 $ 1,758,167.01 22,256.04 427,000.00 $ 858,312.40 General Fund. $ 30,860.91 20,771.19 58,747.01. 2,188,000.00 427,00.00 650,052.63 794,587.24 5,000.00 427,000.00 7,625,466.94 75,000.00 4,837.686.62 315,933.29 $17,157,312.47 443,453.88 2,626,403.08 989,258.40 486,124.54 573,175.28 126,592.19 75,954.72 196,088.51 3,623,996.14 4,245,045.08 23,059.96 427,000.00 192,247.37 7 "I 123,363.45 147,664.55 6,192.25 Unappropriated Reserve for Bond Retirement Invested in Fixed Assets 4,587.58 60.30 184,325 26 6,499.44 69,280 23 . 1,675.85 57,307.88 10,800.00 31,917.54 4,593.82 20,771.19 Contributions in Aid of Construction v Burplus 172.90 5,506,36 479,260.85 147,664.55 I ' 9,587.18 144,133.98 10,641.14 81,068.52 Total j All Funds i $ 21,181.77 27,352.46 163,923.92 10.541.14 81,068 52 5,506.36 $ 4,968,240.66 $ 767,867.18 27,314.69 $ $ $ 60,627.24 $ 215,310.76 58.207.94 $ $ 5,320,962.07 153,721.16 PROVO CITY CORPORATION BALANCE SHEET BY FUNDS LIABHJTIES AND SURPLUS JUNE 30, i Capital Asset Fund Compensation Fund 14,984.05 5,666.23 tr . Contracts Payable Reserve for Injuries and Damages Customers' Deposits Due to Other Funds Accrued Interest Bonds Payable Revenue Bonds General Obligation Bonds Special Improvement Districts 19,992.34 91,680.29 58,207i.94 2,562.35 $ 1,513.95 It 2,995.64 an.d Employees' T 212,458.15 $17,157,312.47 General 2,561 87 62,107.27 Class "B" and "C'l Road Fund Swimming Pool Fund Airport Fund Library Fund 57.56 ' 1,901.42 5,951.32 295.63 2,131.88 5,951.32 7,637.71 .. Plant, Machinery and Equipment .... Electric Department Net Waterworks and Sewage Departments Net Deferred Charges and Prepaid Expense Amount to be Provided for Bond Retirement Accounts Payable Improvement Trust and Guar'ty Funds 131,925.22 115,748.94 Police Pension Special ) Swimming Pool TOTAL ASSETS $ 1,611,281.04 ! - 70,109.48 , Total Operating 17,280.63 69,398.96 710.50 .... Gas and Oiler Trucks K.... Disposal Plant Labor Supplies Disposal Plant Expense Miscellaneous 6,351.46 3,995.63 437.07) , Supervision Total Operations Expenditures ... .. 67,427.76 2,977.50 $ - DEPARTMENT PROVO CITY CORPORATION STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 1962 Total Revenues Total Distribution ; 4,702.07 24.716.80 Truck Labor 23,009.90 1,914.35 2,176 13 Expenses: Operating Expense 34,758 88 - 2,963.24 11,000 00 . j Waste Removal Service Sales Miscellaneous 59,453.43 384.00 15.668.69 ............ Operating Maintenance Structures. and Equipment General and Administrative Allowance for Depreciation-Interes- 2.686.49 7,009.62 , $ - 270.14) : 114,796.81 Expense Customers' Accounting and Collecting Expense Sales Promotion" Expense . Administrative and General Expense , 7,976 87 2,361.88 J 2.746.56 Revenue Total 8,000.00 2,478.04 Lines 40,757.99 . Supervision Equipment Administrative and General Expense Allowance for Depreciation Interest ....... . 225,395.48 2,137.04 Operation 'Expenditures: $ 139,125.32 Maintenance-Distribut- ion $ 853,849.86 i. J SEWAGE DISPOSAL DEPARTMENT --PROVO CITY CORPORATION STATEMENT OF OPERATIONS ' SIX MONTHS ENDED JUNE 30; 1962 Revenue: Sewer Sales to Customers 56,706 87 Mainteance-- - Total Revenue Expenses: Generation Expense ..,.......$ Operation Maintenance Other Generation Expense i 8.58t.80 5,135.00 9 7,976 87 2,361.88 . 6.00 3,564.02 5,235:01 Miscellaneous ....... .... Supervision 13,218.34 12,372.98 324.24 8,722.75 47,500.00 40,703.79 . 1 $ 124,013.38 .. : Pumping Expense Purification Expense $ 823.023.53 6.00 . Total Expenditures Total Revenes Operation Expenditures: Purchase of Water 31,437.86 i.505.85 28.859.13 . '.. 4,265.00 ' ' ;. - .. 5,720.92 - Excess (Deficiency $ 122,227.92 41,924.92 72.030 58 . .... Bunds Redeemed .. . Advances to Districts Under Construction New Construction WATERWORKS DEPARTMENT PROVO CITY CORPORATION STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 1962 ELECTRIC DEPARTMENT PROVO CITY CORPORATION STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 1962 Revenues: Sale of Electric Energy Residential r.nd Domestic Commercial and Industrial Public Sjtreet and ' ' Highway Lighting 9,013.24 715,139.76 724,153.00 10,153 00 V . TOTAL EXPENDITURES 129,817.29 Electric Department Waterworks Department $ 8,678.10 $ 146,293.05 i 65.211.45 71,319.98 1,411.75 6,192.25 3,060.00 1,029.48 766,000.00 352,000.00 . 1962 Sewage Disposal and Sanitation Departments $ Police Pension Special Improvement Trust and Guar'ty Funds Library Fund 2,50190 3,336.37 Class "B" Swimming Pool Airport Fund and FC" Road Fund . Fund , and Employees Capita. Asset Fund Compensation Fund 1- 500.71 76.33 4,068:78 48.983.47 58,245.42 3,105.42 102.35 25,023.12 1,065,000.00 650,052.63 3,911,812.18 27,989.94 31,115.69 2,575,823.84 522,235.22 75,000.00 696,681.20 38,800.41 114,709.13 ( 1,044.80) 18,619 19 4,433.26 858.312.40 $ 4,968,240.66 2,968,581.36 $ 1,758,167.01 $ 767.867.18 $ 27,314.69 4,624,280.87 196,088.51 17,317.24 $ 104,737.69 58,207.94 $ 60,6274 $ 215,310.76 58,207.94 $ 153,721.16 . $ 5,320,962.07 ft- - 1 1 i A?,-;- . - ' |