The URL can be used to link to this page

Audit Report - 1974 ""AR",",'I"',"'"' W~IH.'KI"',h"m,," , . l -: \ """"",""N'",." ( , HLA TH S.. ¡",. rHN "'K'Ö' ,.,"" Z"-'M"",^,' S.ALIN .A .AIRPORT .A.. 1:.J'"T:H:O~~IT"Y SALIN A MUNICIPAL AIRPORT ¡(III"'" ".\" \N I., "'" h.I'""".", TER\lIN.\L BIILDIN(, NO lèO 1'\ I I , 11'\ I I \1", '," .\, i"'" \1.",~" SALI'<A, KANSAS 67401 February 26, 1975 Gentlemen: The Salina Airport Authority submits an accounting of its operations for the calendar year 1974, as reported by A. H. Leckband and Company, its independent Certified Public Accountants. Substantial construction of buildings continued through 1974. constructions being as follows: The main Charlie Stevens, Stevens Construction Company, built a hangar building on SAA property for his use as Aircraft Services, Inc. He now operates a complete fixed base operation with a noteworthy aircra~t training school and refueling operation. The Salina Airport Authority built a hangar building for Reece Nelson dba Nelson Aviation, Inc., also a fixed base operation. Torn Belcher built a hangar building on SAA property and is also running a fixed base operation under the name of B & B Flight, Inc. Expansion of the Rickel Manufacturing Corporation building wa~ completed tþis past year and is being utilized to capacity in their manufacture of the Big A fertilizer dispenser equipment. The Salina Airport Authority built an addition on Building #986 for Hastings Dynamold Corporation, which doubles their manufacturing area. Scientific Engineering completed a new manufacturing building on land leased from the Salina Airport Authority. Schwan's Enterprises Inc., makers of Tony's Pizza, completed construction on their expansion of Building #266 and leased Building #270, formerly occupied by the Central Kansas Diagnostic Center. Building #270 is being used as Schwan's division headquarters. The Lee Company purchased a 10 acre tract from Salina Airport Authority and built a new headquarters and warehouse at Centennial and Magnolia. This building was completed and occupied January 1, 1975. :;,j 1 i 11:1 Mllnic ipal Airport and fac i 1 ities was used by the U. S. Army for !' ,al Íl111 Re-fnrger, the moving of army troops and equipment! rom Fort Riley ;,-r:'1;mv and return. This generated the sale of 1,250,000 gallons of fuel. .v;1:'; é1 very succes,,'ul operation, ilnd the Army expects to utilize the 1 ff'lt again in 19 ". ,ttill?"! ':¡e Salina Municipal Airport substantially in 1974 for training of 'i p,'!':¡ oi ¡ ùts i 11 Luckheed 1011' s. This training will earn' over for most 1} S. .' reinvest In'Lent continued tl) utilize Salina Municipal Airport for .' , n::1 ¡~. \ I" .inned and executed maintenance program for all Salina Airport Authority ¡'llildings, ,)roperty, and airfield facilities has been carried l)ut during 1974. ,n Ai rport Aid Development Project (ADAP) has been programmed for 1975 in the estimatl'd ¡mount of $408,300.00. This ADAP pPJject will be flmded by FAA in till' al'or:1~ ,C 75% and 25% will be paid by Salina Airport Authority. This :'! 'jeet rrovides for overlay of the general aviation runway 4-22 and overlay "I ,1:<Ìwav 10, remarking of all runways, lighted wind socks at both ends of t ¡", prirnan runway, and some navigat tonal aids at the nnrth end of the primary idl\,dV. lpon comp letion of this ADAP proj ect, the Salina Municipal Airport ':!UU 1 d be one of the best equipped airports in the country. ¡he 1] ina Airport Authority is grateful for the cooperation it has received ¡ "',,!ments of the Salina community during the past year, and pledges its twarJ continued progress in its area of responsibilitv. tr ': t, Sincerely, SALINA AIRPORT AL'THORITY uJ}~ W. P. Horton Chairman \,' ij: k,..; SALINA AmpOR'l' AUTHORITY Salina, Kansas AUDIT REPORT Year 1974 A. II. U:CIŒAND & CO. CertiCicc! Public Accountants Accounting Bldg., 719 I~ast Crawford Salina, Kansas 67401 EXHIBIT A Schedule A-I Schedule A-2 Schedule A-3 EXHIBIT B Schedule B-1 Schedule B-2 Schedule B-3 Schedule B-4 Schedule B-S EXHIBIT C EXHIBIT D EXHIBIT E SALINA AIRPORT AUTHORITY TABLE OF CONTENTS ~~ Auditor's Report Comments 2 Statement of Receipts, Disbursements, and ComposiUon of Ending C;]sh Balances Operating H,evemles Operating Expend itu¡-es Capital Expenditures ) {~ 5 6 Bonds of Indebtedness General Obligation Bonds Building Revenue Bonds - Series 1971 Building Revenue Bonds - Series 1972 Building Revenue Bonds - Series 1973 Building Revenue Bonds - Series 1973-2 7 (3 l) , " 1 ¿ Reconcilement of Fiscal Agency Account 13 Schedule of Investments 14 Insurance in Force 15 January 30, 1975 To the Directors Salina Airport Authority Salina, Kansas 67401 Gentlemen: We have examined the financial and related general records of tlw Salina Airport Authority for the year ended December ')J, L 974. Our examination was performed in accordance with the I)~ovis ions of the Minimum Standard Audit Program approved by the State Mllnicipal Accounting Board September 28, 1963, and subsequent [llllC'nÔments thereto, and included such tests as we considered ll('cesséJry in the circumstrlnces. In our opinion, the accompanying exhibits and schedules reflect the cash position of the Sa! inéJ Airport Authority at December ~,l, 1974, and the results of its cash transactions for the year then ended. r/ /1 ";(~u:/J!-n ¡..£ {{~, I CERTIFIED PUBLIC ACCOUNTANTS / ( /' "~~ / ' / ,. ' ( 0( ~/ Þ "-"-_/ C;', . "¿VVI/J)/L)~ Eugey~ O. Harrison, Certified Public Accountant, Certificate No. 1401, in charge of and actively engaged on this audit. 1 COrvUv1ENTS 1. The Salina Airport Authority is governed by a board of five directors appointed by the City Commission of the City of Salina, Kansas. The following directors served during the period of our examination: William P. Jlorton, Chairman Ben Vidricksen, Vice-Chairman C.F. Heath, Secretary-Treasurer John L. Zimmerman Dean Tinkler 2. The following officials, appointed by the Salina Airport Authority Board of Directors, served during the period o[ oUt' exal1lination: John F. Scanlan, I':xccutive Vice-President Paul Wall, General Manager and Airport Manager 3. The Salina Airport Authority is exempt from the cash basis law under the provisions of K.S.A. 10-1116 as stated in the audit reports of prior years. 4. We recommend that a determination of the values of the capital assets be recorded on the books and that a realistic depreci- ation charge be computed and recorded annually. 5. A Bond Reserve Account and a Repl<\cement and Depreciation Account were established during 1971 in accordance with the Building Revenue Bond issues. The requirements and balances o[ these accounts are as follows: Bond Reserve Account Replacement and Depreciation Account I:e<u¡ red 12-31-74 $15,000 9, ()GO Acllldl 12-31-74 _0- $11 ,000 7,000 2 SALINA AIRPORT AL1HORITY GENERAL OPERATING FUND' EXHIBIT A STATEMENT OF RECEIPTS, DISBURSEMENTS, AND COMPOSITION OF ENDING CASH BALANCES CASH AND INVESTMENTS-January 1 RECEIPTS Operating revenues Proceeds from sale Revenue Bonds Accrued interest on Loan-Planters State - Schedule A-I of Building sale of bonds Bank & Trust Co. TOTAL RECEIPTS RECEIPTS AND BEGINNING BALANCE DISBURSEMENTS Operating expenditures-Schedule A-2 Capital expenditures-Schedule A-3 Loan repayment-Planters State Bank and Trust Co. TOTAL DISBURSEMENTS CASH AND INVESTMENTS-December 31 AVAILABLE CASH AND INVESTMENTS-December 31 First National Bank & Trust Co. $ Planters State Bank & Trust Co. National Bank of America First State Bank & Trust Co. U.S. Treasury Bills Certificates of Deposit Certificates of Deposit-Bond Reserve Certificates of Deposit-Replacement and Depreciation Reserve TOTAL DEDUCT-Amounts withheld from payroll TOTAL CASH AND INVESTMENTS-December 31 January 1 to December 31, Airport Building Revolving Revenue Account Account $?lO,162.01 $180,261.60 $ $297,381.97 $297,381.97 $507,543.98 $209,342.18 1,400.00 $210,742.18 ill.2..801.80 10,527.36 29,877.71 260,000.00 $300,405.07 3,603.27 $296.801.80 $307,678.11 $ 350,000.00 3,194,52 $660,872 .63 $ 1974 General Operating Fund Totals 390.,423.61 605,060.08 350,000.00 3,194.52 $841,134.23 $1,348,678.21 958,254.60 $236,604.09 $ 445,946.27 222,052.53 223,452.53 183,000.00 $641,656.62 $ 852,398.80 183,000.00 lli9.477.61 $ 496,279.41 $ 37,356.64 $ 37,356.64 - 10,527.36 129,120.97 129,120.97 - 29,877.71 - - 15,000.00 275,000.00 11,000.00 11 ,000 .00 -1, 000.00 7,000.00 $199,477.61 $ 499,882.68 $199,477.61 $ 496.279.41 3,603.27 3 January 1 to December 31, 1973 Airport Building General Revolving Revenue Operating Account Account Fund Totals $164,653.74 $77.517.29 $ 242.171.03 $254,129.25 $328,790.54 $ 582,919.79 350,000.00 350,000.00 2,970.20 2,970.00 183.000.00 183,000.00 $254,129.25 $864,760.74 $1,118,889.99 $418,782.99 $942,278.03 $1,361,061.02 $207,484.08 $122,965.44 $ 330,449.52 1 , 13 6 . 90 639,050.99 640,187.89 $208,620.98 $762,016.43 $ 970,637.41 $210.162.01 $180.261.60 $ 390.423.61 $ - $ 80,762.36 $ 80,762.36 7,908.84 - 7,908.84 - 72,499.24 72,499.24 - - - 145,074.00 - 145,074.00 60,000.00 15,000.00 75,000.00 7,000.00 7,000.00 5,000.00 5,000.00 $212,982.84 $180,261.60 $ 393,244.44 2,820.83 - 2,820.83 lliD.162.01 $180.261.60 $ 390.423.61 Building rents Agricultural land rents Other land rents Hangar rents Other rents Fixed base operator Landing fees Cormnissions Interest on investments Interest on sale of property Sale of property Reimbursement - FAA mowing Miscellaneous income TOTAL OPERATING REVENUES SALINA AIRPORT AUTHORITY GENERAL OPERATING FUND OPERATING REVENUES January 1 to December Airport Building Revolving Revenue Account Account $184,480.15 $253,068.52 5,365.00 5,185,00 3,980.00 1,000.00 8,820.00 7,056.15 100.00 50,411.60 33,186.61 77 5 . 54 17,187.17 180.00 1,715.90 ~97 .381.97 9,204.34 730.26 22,513.84 100.00 $30L678.11 '" Schedule A-I 31, 1974 General Operating Fund Totals $437,548.67 10,550.00 4,980.00 8,820.00 7,156.15 50,411.60 33,186.61 77 5 .54 26,391.51 730.26 22,513.84 180.00 1,815.90 $605.060.')8 4 January 1 to December Airport Building Revolving Revenue Account Account $162,309.67 $175,626.19 5,365.00 5,185.00 2,665.00 1,000.00 10,010.00 50.00 24,059.33 48,814.82 811 .68 8,640.50 371 .00 1,042.25 ß254.l29.25 8,507.13 73 6 . 94 127 ,725.28 lli8~90 .54 31, 1973 General Operating Fund Totals $337,935.86 10,550.00 3,665.00 10,010.00 50.00 24,059.33 48,814.82 811 .68 17,147.63 73 6 . 94 127,725.28 371 .00 1,042.25 $582.919.79 SALIè;A .HRPORT ACTHCRIE GEXERAL OPERATI';G FL"D OPERATI~G EXPE~DITL~ES Sc hedule A-2 January 1 to December 31, 1974 January 1 to December 31, 1973 Airport Building General Airport Building General Revolving Revenue Operating Revolving Revenue Operating Account Account Fund Totals Account Account Fund Totals OFFICE AND ADMINISTRATION Office salaries $ 45,665.07 é: - $ 45,665.07 .$ 40,976.00 $ - $ 40,976.00 y Office supplies 614.32 - 614.32 724.84 - 724.84 Postage 244.60 - 244.60 161.00 - 161.00 Car expense 3,263.96 - 3,263.96 2,341.76 - 2,341.76 Travel expense 1,290.52 - 1,290.52 665.70 - 665.70 Legal and auditing 6,419.09 - 6,419.09 5,149.25 - 5,149.25 Insurance 23,841.43 - 23,841.43 25,387.72 - 25,387.72 Interest on note - 1,052.72 1,052.72 - - - Appraisal and abstract fees - 147.50 147.50 - 527.75 527.75 Engineering 268.98 - 268.98 500.00 - 500.00 Social security tax 5,482.86 - 5,482.86 4,824.92 - 4,824.92 Employees retirement 4,320.71 - 4,320.71 3,473.97 - .3,473.97 Telephone 1,601.93 - 1,601.93 1,547.46 - 1,547.46 Reimbursable charges 22.27 - 22.27 ( .14) - (.14) Airport security 3,551.78 - 3,551.78 3,486.69 - 3,486.69 Other office and administration 2,576.23 1.00 2,577.23 1,676.06 - 1,676.06 TOTALS $ 99,163.75 $ 1,201.22 $100,364.97 L.9(),915.23 $ 527.75 $ 91,442.98 MAINTENANCE Building maintenance Runways, taxiways and ramps Equipment gas, oil and repairs Utilities Grounds maintenance Janitor supplies Maintenance salaries Snow removal Airfield lighting equipment Signs Other maintenance expense TOTALS BOND AND INTEREST Bond principal redeemed Bond interest expense Bond commission and postage Expense relating to bond issue TOTALS TOTAL OPERATING EXPENDITURES $ 9,419.12 6,928.87 5,388.60 10,535.89 7,233.75 1,014.82 63,905.83 248.10 849.44 1.69 4,652.32 $110,178.43 $ $ S209.342.18 $ $ 9,419.12 $ 9,348.29 $ 6,928.87 18,671.12 5,388.60 4,599.97 10,535.89 10,725.73 7,233.75 7,041.27 1,014.82 628.50 63,905.83 56,649.62 248.10 82.50 849.44 - 1.69 50.04 4,652.32 8,771.81 - $110,178.43 $116,568.85 $ 975.00 975.00 $ S140,000.00 92,678.16 36.67 2,688.04' $140,000.00 92,678.16 36.67 _2,688 004 $ $ 70,000.00 49,850.35 38.40 1 , 573 . 94 $235,402.87 $235,402.8ì S S121.462.69 S236.604.09 $445.94".27 5 S207.484,08 Sl22.965.44 $ 10,323.29 18,671.12 4,599.97 10,725.73 7,041.27 628.50 56,649.62 82.50 50.04 8,771.81 $117,543.85 $ 70,000.00 49,850.35 38.40 1,573.94 $121 462.69 S330 .449,52 SALINA AIRPORT AUTHORITY GENERAL OPERATING FUND CAPITAL EXPENDITURES Equipment 1965 Ford truck 3M copy machine Mobile radio Building improvements Hangar-Nelson Aviation Building 986-Hastings Dynamold Building 102l-Rickel Manufacturing Corp. Building 266-Schwans Sales Enterprises, Inc. Building 6l4-Eldorado Industries, Inc. Building 620- Continental Aluminum Co., Inc. TOTAL CAPITAL EXPENDITURES Schedule A-3 January 1 to December 31, 1974 Airport Building General Revolving Revenue Operating Account Account Fund Totals $1,400.00 ~L400. 00 ... $ 142,096.65 28,000.00 51,955.88 ~2.052.53 $ 1,400.00 142,096.65 28,000.00 51,955.88 $223.452.53 January 1 to December 31, 1973 Airport Building General Revolving Revenue Operating Account Account Fund Totals $ $ $ 670.00 466.90 670.00 466.90 192,693.90 192,693.90 182,912.93 182,912.93 173,682.00 173,682.00 89,762.16 89.762.16 i1~136. 90 $639_,050.99 $640.187.89 S^LINA AIRl'OWl' AlJTI10HTTY EXHIBIT B BONDS OF TN])lmTIWNI~SS December 31, 1974 General Obligation Bonds Schedule B-1 Building Revenue Bonds - Series 1971 Schedule B-2 Building Revenue Bonds - Series 1972 Schedule B-3 Building Revenue Bonds - Series 1973 Schedule 13-4 Building Revenue Bonds - Series 1973-2 Schedule 13-5 Original Pr inc 11'a 1 Ot\(:s(:i\nd inl~ Issuc ['aid ¡\¿¡lancl' $ 790,000.00 $200,000.00 $ 590,000.00 250,000.00 50,000,00 200,000 .llO 500,000.00 70,,000.00 430 ,lWO .00 350,000.00 25,000.00 325,000.00 350,000.00 25,000.00 J2 5,000 .00 $2,240,000.00 BlQ,OOO.OO $1,870,OOO.l~O 7 SALINA AŒPO]{T AUTHORITY Schedule B-1 GENE]{AL OBLIGATION BONDS December 31, 1974 Date of Issue: Amount of Issue: Interest Rate: Maturity Date: Principal Paid: Outstanding Balance: Schedule of Payments Due Tn Year 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 Ilond Pr i ne 1 pa 1 $ 35,000,00 35,000.00 40,000.00 ¿~O ,000 .00 40,000.00 ¿~O ,000 .00 45,000,00 45,000.00 45,000.00 45,000.00 f+5,OOO ,00 45,000.00 45,000.00 45,000.00 $590,000.00 Fehnlal'Y 1, 1967 $790,000.00 4.25, 3.375, 3.4% February 1, 1988 $200,000.00 $590,000.00 Bond Interest $ J9,)7B,Jb l8,J % ,91 16,93J .29 l5,58J ,29 14,231.29 12,881.29 11 ,446.92 9,928.17 8,¿rO9.42 6,885.00 5,355.00 3,825.00 2,295.00 765.00 $146,109.74 8 SALINA AIRJ'OWr AUTIIO]~ ITY schedule B-2 BUILDING ]{EVENUI~ ßONDS - SlŒlES 1971 December 31, 1974 Date of Issue: Amount of Issue: Interest Rate: Maturity Date: Principal Paid: Outstanding Balance: Schedule of Payments Due In Year 1975 1976 1977 1978 1979 1980 1981 Bond Pd He LEL- $ 2{J, (JOO . O() 25,000.00 25,000.00 30,000.00 30,000.00 35,000.00 35,000.00 $200.000.00 ,January 1, 1971 $250,000.00 5/', .January 1, 1981 $ 50,000.00 $200,000.0:) Bond Int:cu's t: $ 9,500.00 8,375.00 7,125.00 5,750.00 L~, 250. no 2,625.00 875.00 $38.500.00 9 SALJ NA ATI~p()Wr AUTHORITY BUILDING REVENUE BONDS - SERIES 1972 Date or Tssue: Amount or Issuc: Inl:crest I~ate: Maturity Dale: Prine ipal Paid: Outstanding Balance: ,It! I Y 1, 1972 $5()O, O()() .00 4.'), 5'ì'.. Ju j y I, 1984 $ 70,000.00 $430,000.00 Sehedu]e or Payments Du(' Tn ~:i.I.!:- 1975 197Ú 1977 lY78 1979 19BO IY81 lY82 lY83 1984 Bond ~ r j IJ..C::,iJ2:LL $ J5,O()O.()() 35,000.00 ¿~O ,000.00 ¿~() ,000 .00 40,000.00 ¿~5, 000.00 ¿~ 5 , 000 . 00 ')0,000.00 50,000.00 50,OOO.()() $¿~30 .000.00 lIond -JnLer<'sl ----------. $ ¿O,32'J.O() 18,750.00 17,175.00 15,37~).OO LI,575.()O 11,775.0() 9, 7 'JO .00 7 , ')00 . O() 5,()OO.OO 2,500.00 $121,725.00 Schedule B-3 10 SALINA AIRPORT AUTHORITY BUILDING REVENUE BONDS - SEI<. n:s 1973 December 31, 1974 Date of Issue: Amount of TS~Hle: [nteres l ILl tc: Maturity Date: Principal Paid: Outstanding Balance: ,I;¡ n u;¡ r y 1, 1 <)73 $'3 SO, 000 .00 ') . 2 5'%, Febru;¡ry I, 1985 $ 25,()()U.OO $325,000.00 Schedule of Payments Due' In Ye;¡r Bond P r i n<:.:.iJ2:'!!- $ 2~),OO().OO 25,000.00 25,000.00 25,000.00 25,OOO.O() 25,000.00 25,000.00 40,000.00 40,000.00 35,000.00 35,000.00 $325,000.00 1 <J 7 rj 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 I\ond Interest $ 17 ~)6 2. ')0 15,750.00 14,Ld7.5l1 1:3,125.00 11,812.50 10,500.00 9,187.50 7,875.00 5,775 .00 3,675.00 918.75 $110,118.75 Schedule B-Lf 11 SALINA AIRPORT AUTHORITY BUILDING REVENUE BONDS - SERIES 1973-2 December 31, 1974 Schedule B-5 Date of Issue: Amount of Issue: Interest Rate: Maturity Date: Principal Paid: Outstanding Balance: December 31, 1973 $350,000.00 6, 6.5% December 1, 1985 $ 25,000.00 $325,000.00 Schedule of Payments Due In Bond Bond Year Principal Interest 1975 $ 25,000.00 $ 20,500.00 1976 25,000.00 19,000.00 1977 25,000.00 17,500.00 1978 25,000.00 16,000.00 1979 25,000.00 14,500.00 1980 25,000.00 13,000.00 1981 25,000.00 11 ,375.00 1982 40)000.00 9,750.00 1983 40,000.00 7)150.00 1984 35,000.00 4,550.00 1985 35,000.00 2,275.00 $325.000.00 $135.600.00 12 SALINA AIRPORT AUTHORITY RECONCILEMENT OF FISCAL AGENCY ACCOUNT December 31, 1974 BALANCE WITH FISCAL AGENCY - January 1, 1974 REMITTANCES Matured bonds Interest coupons Commission and postage TOTAL REMITTANCES AND BEGINNING BALANCE RETURNS Cancelled bonds Interest coupons paid Commission and postage retained BALANCE WITH FISCAL AGENCY - December 31, 1974 $35,000.00 20,559.41 36.67 $35,000.00 20,559.41 36.67 EXHIBIT C $ 55,596.08 $55,596.08 55,596.08 $ 13 SALINA AIRPORT AUTHORITY SCHEDULE OF INVES1~NTS December 31, 1974 EXHIBIT D Balance 1-1-74 Purchases Year 1974 Redemptions Year 1974 Balance 12-31-74 AIRPORT REVOLVING ACCOUNT Certificates of deposit $ 60,000.00 $ 320,000.00 $ 120,000.00 $260,000.00 U.S. Treasury Bills 145,074.00 450,880.60 595, 9S<'~. 60 BUILDING REVENUE ACCOUNT Certificates of deposit 27,000.00 8,000.00 2,000.00 33,000.00 U.S. Treasury Bills 502,424.80 502,42,'~.80 TOTAL - GENERAL OPERATING FUND $232.074.00 $1. 281,305.40 $1,220.379.40 $293.000,00 14 Workmen's Compensation and Employer's Liability Comprehensive General Liability Manufacturer's and Contractors Liability Rental Building 266 Rental Buildings - Industrial Rental Buildings- Dwellings Airport Terminal and Rental Buildings Vehicles SALINA AIRPORT AUTHORITY INSURANCE IN FORCE December 31, 1974 Type of Coverage Fire and lightning extended coverage, vandalism and mali- c ious mischief Fire and lightning, extended coverage, vandalism and mali- cious mischief-rental value insurance Fire and lightning, extended coverage Fire and lightning, extended coverage, vandalism and mali- cious mischief Bodily injury Pr operty damage Fire, lightning or transportation, theft, combined additional coverage EXHIBIT E Amount of Co-Insurance Coverage Percentage $ 100,000.00 5,000,000.00 1,000,000.00 1,821,500.00 301,930.00 37,000.00 1,824,000.00 100/300,000.00 50,000.00 90/0 15