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ICOMMUNITY ACCESS TELEVISION OF SALINA, INC.
Salina,'Kansas
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' FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT
December 31, 2010
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' CLUBINE AND RETTELE, CHARTERED
CERTIFIED PUBLIC ACCOUNTANTS
SALINA, KANSAS
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COMMUNITY ACCESS TELEVISION OF SALINA, INC.
Salina, Kansas
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' INDEX
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IINDEPENDENT AUDITORS' REPORT 1
STATEMENT OF ASSETS, LIABILITIES AND NET ASSETS - 2
- MODIFIED CASH BASIS - Exhibit I
STATEMENT OF REVENUES, EXPENSES AND OTHER CHANGES 3
IN NET ASSETS - MODIFIED CASH BASIS - Exhibit II
STATEMENT OF CASH FLOWS - MODIFIED CASH BASIS- Exhibit III 4
NOTES TO THE FINANCIAL STATEMENTS 5-6
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CLUBINE
INDEPENDENT AUDITORS' REPORT
ICertified Public Accountants -
e To: The Board of Directors
' Community Access Television of Salina, Inc.at
We have audited the accompanying statement of assets, liabilities and net assets -
modified cash basis of Community Access Television of Salina, Inc. as of December 31,
I 2010, and the related statements of revenues, expenses and other changes in net assets -
modified cash basis, and cash flows - modified cash basis, for the year then ended. These
Robert I.clubine,C.P.A. financial statements are the responsibility of Community Access Television of Salina, Inc.'s
I David A.Bell,C.e,C.P ..A management. Our responsibility is to express an opinion on these financial statements
Jay D. Langley,C.P.A. based on our audit.
Jon K. Bell,C.P.A.
Leslie M. Corbett,C.P.A. • We conducted our audit in accordance with auditing standards generally accepted in the
I Stacy J. Osner,C.P.A. United States of America. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material •
Mardi K. Fox, C.P.A. misstatement. An audit includes examining, on a test basis, evidence supporting the
John T. Millikin,C.P.A. • amounts and disclosures in the financial statements. An audit also includes assessing the
I Linda A. svelter,C.P.A. accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation., We believe that our audit provides
a reasonable basis for our opinion.
IAs described in Note 2, these financial statements were prepared on the modified cash
basis of accounting. This basis is a comprehensive basis of accounting other than
I generallyaccepted accounting principles.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the assets, liabilities and net assets of Community Access Television of Salina,
I Inc. as of December 31, 2010, and its revenues collected and expenses paid for the year
then ended, on the basis of accounting described in Note 2.
C UBI ETTEnE, CHARTERED
RTERED
Ic,..- e -.
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I .June 15, 2011
218 South Santa Fe
I P.O. Box 2267
Salina, Kansas
67402-2267
ISalina
785/825-5479
Salina Fax
I785/825-2446
Ellsworth
785/472-3915
Ellsworth Fax
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785/472-5478
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(1)
COMMUNITY ACCESS TELEVISION OF SALINA, INC.
Salina, Kansas
Exhibit I
STATEMENT OF ASSETS, LIABILITIES AND NET ASSETS
MODIFIED CASH BASIS
December 31,2010
ASSETS
Current Assets
Cash in bank $ 221,661
I Donated facilities, current portion 76,800
Total Current Assets 298,461
I Property and Equipment, at cost
Building improvements 174,420
Equipment 919,587
' ,094,007
Deduct- Accumulated depreciation 1
(1,000,370)
Total Property and Equipment 93,637
ITotal $ 392,098
LIABILITIES AND NET ASSETS
Current Liabilities 3,123
' Accrued payroll taxes and withholdings
Net Assets
Unrestricted 312,t75
Temporarily restricted 76,800
Total Net Assets 388,975
' Total $ 392,098
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See accompanying notes which are an integral part
of the financial statements.
' (2)
' • COMMUNITY ACCESS TELEVISION OF SALINA, INC.
Salina, Kansas •
Exhibit II
STATEMENT OF REVENUES, EXPENSES AND OTHER CHANGES
IN NET ASSETS-MODIFIED CASH BASIS
For the Year Ended December 31, 2010 •
I Changes in Unrestricted Net Assets
Revenue and Reclassifications
Revenue
' City ordinance $ 309,232
County revenue ' ' 15,000
Contributions 828
• Tapes • 1,339
I Membership/Sponsorship 5,416
Fees and classes 620
Interest 2,012
Production services, Underwriting 1,916 •
I Government meeting reimbursement
Donated facilities • 11,000
Total Revenue 350,078
I Net Assets•Released From Restrictions
-Total Revenue and Reclassifications 428,678
Program Expenses
I Accounting 7,085
Legal 1,703
Office supplies 12,091
I Postage and mailing 2,036•
Printing 3,880
Repairs and maintenance • 10,662
Production supplies 21,643
I , Telephone and cable - 3,136 -
Dues and publications 1,647
Miscellaneous - 417
. Tapes and expendables 138
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Community relations
Advertising 4,763
Contract Labor • 2,332
I Wages 168,918
Payroll taxes 15,979
Retirement plan 4,293
Health insurance 15,421
I Continuing education 668•
Underwriting usage 1,444
Insurance 23,729
I Travel and recruitment 4,801
Depreciation 30,851
Donated facilities rent 89,600
Total Program Expenses 433,485
ITotal Changes in Unrestricted Net Assets (4,807)
Changes in Temporarily Restricted Net Assets
I Net assets released from restrictions
Donated facilities (78,600)
Total Changes in Temporarily Restricted Net Assets _ (78,600)
I Change in Net Assets . (83,407)
Net Assets at Beginning of Year 472,382
Net Assets at End of Year $ 388,975
ISee accompanying notes which are an integral part
of the financial statements. .
� (3)
' . COMMUNITY ACCESS TELEVISION OF SALINA, INC.
Salina, Kansas
Exhibit III
STATEMENT OF CASH FLOWS
MODIFIED CASH BASIS
' For the Year Ended December 31, 2010
Cash Flows From Operating Activities
I Cash received from cable contracts and others 337,066
Interest received 2,012
Cash paid to suppliers and others (310,183)
' Net Cash Provided by Operating Activities 28,895
Net Cash Used by Investing Activities
IPurchase of property and equipment (12,504)
. Net Decrease in Cash 16,391
' Cash at Beginning of Year 205,270
Cash at End of Year $ 221,661
' RECONCILIATION OF DECREASE IN NET ASSETS TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
' Decrease in Net Assets : $ • (83,407)
I Adjustments to reconcile decrease in net assets
to net cash provided by operating activities
Increase in accrued payroll taxes and withholdings 2,851
I Donated facilities, net 78,600
Depreciation 30,851
Total Adjustments 112,302
' Net Cash Provided by Operating Activities $ 28,895
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I See accompanying notes which are an integral part
of the financial statements.
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COMMUNITY ACCESS TELEVISION OF SALINA, INC.
. Salina, Kansas
- NOTES TO FINANCIAL STATEMENTS
December 31, 2010
1. Nature of Activities:
Community Access Television of Salina, Inc. was organized as a Kansas not-for-profit corporation with exempt
I status under Internal Revenue Code Section 501(c)(3) on April 15, 1991. The organization operates cable
television channels to distribute noncommercial, educational, community-based media programs and information
to local citizens and provides equipment and technical knowledge for local citizens who produce the programs.
2. Significant Accounting Policies:
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A. The accounting records are maintained and the financial statements prepared on the modified cash basis of
I accounting. Under the cash basis, receipts are recognized when collected and disbursements are recognized
when paid rather than when incurred. This method is modified to include a provision for depreciation of
property and equipment and for accrued payroll taxes.
I B. The organization's expenses are primarily program related with an insignificant amount of expenses related
to administration and fund raising. Thus, the Statement of Functional Expenses is not presented.
C. For the purposes of the Statement of Cash Flows- Modified Cash Basis, cash equivalents include bank
Ichecking accounts, certificates of deposit and a money market account.
D. Property and equipment are recorded at cost. Depreciation is determined using the straight-line method over
I estimated lives of 5 to 15 years.
E. The preparation of financial statements in conformity with the modified cash basis of accounting requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities
I and disclosure of contingent assets and liabilities at the date of the financial statements and reported
amounts of revenues and expenses during the reporting period. Actual results could differ from those
estimates.
I3. City of Salina Contract:
A contract with the City of Salina dated April 2, 2007, provided for funds to be paid to Community Access
I Television of Salina, Inc. in exchange for providing the services in Note 1. The agreement term commences April
4, 2007 and terminates December 31, 2011. The contract may be renewed for periods of five years at a time.
In 2007 and subsequent years, revenue will be substantially reduced under the new contract with the City of
I Salina. The reduction is due to Kansas legislation passed in 2006 which eliminated local franchise relationships
between municipalities and video service providers. This contract contains a declining revenue provision as
. follows: 70% for April 4, 2007 through December 31, 2007, 65%for 2008, 60% for 2009, 55% for 2010 and 50%
for 2011.
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Under the terms of the agreement, the City of Salina furnishes a building and utilities for the operations of
Community Access Television of Salina, Inc. The estimated fair rental value for the life of the new contract of this
I facility, including utilities, was estimated to be $388,500, and recognized as restricted revenue in 2007. For 2010,
the revenue released from restrictions of$78,600 is shown as a reclassification and the expense of$89,600 is
shown under the caption "Donated Facilities" on the Statement of Revenues, Expenses and Other Changes in Net
Assets- Modified Cash Basis, in accordance with FASB ASC 958-605, Revenue Recognition. The$11,000
I difference represents the discounted portion of donated facilities not recognized in 2007. The remaining portion of
donated facilities recognized in 2007 is shown as temporarily restricted net assets on the Statement of Assets,
Liabilities and Net Assets - Modified Cash Basis. •
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The City of Salina maintains a security interest in all assets and upon termination of the agreement, all real estate,
equipment, deposit accounts or other assets become the property of the City of Salina.
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4. City of Salina Revenue:
Revenues from the city ordinance represent a percentage of fees paid to the City of Salina by the cable
franchisee. These are remitted quarterly to Community Access Television of Salina, Inc. The fourth quarter
payment for 2010 of$76,675 was not payable until after year-end.
From time to time, additional funds may be provided by the City of Salina for equipment purchases at the request
of Community Access Television of Salina, Inc. This revenue is recorded under the caption "City equipment
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reserve" when received. In 2010, no such funds were received. .
All of the revenues from the City of Salina are subject to the perpetuity of the contract mentioned in Note 2.
5. Compensated Absences:
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Certain employees of the organization are entitled to paid vacation and sick days depending on various factors
which can be carried over to following years up to certain limits. The liability for these compensated absences at
December 31, 2010, is estimated to be$12,410. This estimated liability has not been reflected in these financial
' statements.
6. Retirement Plan:
' The organization sponsors a Simple IRA Plan for eligible employees which began January 1, 1999. Contributions
to the pension plan were $4,293 for the year ended December 31, 2010.
I 7. Income Taxes- Uncertain Tax Positions:
The Organization is exempt from federal income taxes except on net income derived from unrelated business
activities. The Organization believes that it has no reportable unrelated business activities, and as such, does not
have any uncertain tax positions that are material to the financial statements.
The Organization's federal Exempt Organization Business Income Tax Returns (Form 990)for 2008, 2009 and
I .2010 are subject to examination by the IRS, generally for three years after they were filed.
8. Subsequent Events:
' Community Access Television of Salina, Inc.'s management has evaluated events and transactions occurring after
December 31, 2010 through June 15, 2011. The aforementioned date represents the date the financial
statements were available to be issued.
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