Audit Report - 1977
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SALIN.A. .A.IRFOR T .A. UT:a:OR..IT"'Y
SALIN A MUNICIPAL AIRPORT
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Febr'¡¿!rv 14, 1978
('l'ntlemen:
¡ill' SaJin~ Airport Authority submits an accounting of its operations for the
calendar year 1977, élc; reported by A. ;1. Leckband and Co., 1 ts independent
Certified Public Accountants.
1977 'NilS iln exciting year for the Salina Municipal Airport. On November 6,
1977, Frontier Airlines initiated Jet service to Chicago--Two round trips
daily. rontler also has three flights with Convair 580's--two to Kansas City
and one to Denver. Boardings have increased from 14,724 in 1976 to 20,437
in 1977, :lTld Frontier predicts 1978 boardings to be 25,000. FAA air operations
count f'H 1977 was 106,422, ¿iTl increa~e of 3.4% over 1976.
Due to the increase in Frontier's boardings, it was necessary to rehabilitate
the north room of the Terminal Building to provide a good holding room for
passengers who have been processed through security.
The security fencing project was completed. This fencing provides adequate
separation between the air side of the aircraft parking apron and the indus-
trial complex on and off of the parking apron. Access to the air side of the
aircraft facilities is provided by an electrically operated card key gate and
several padlocked gates operated by the owners of the facilities.
The Salina Airport Authority constructed five additional T-tlangars, filling in
the gap between Hangars A and Hangars B. This gives a total of 35 T-hangars
and 4 twin engine aircraft hangars.
The Salina Airport Authority constructed a hangar for ADM Milling, to house their
Cessna Citation jet aircraft.
The Salina Airport Authority let a contract to build a parking lot for 125 cars
just east of the Terminal Building. The parking lot has the first layer of
asphalt concrete in place and is usable, but will get the final course of
asphalt concrete in the Spring. This has helped the parking situation at the
Terminal and will take care of the parking needs for the future.
This past year the US Army Readiness Group moved out of the Office Buildings
#219 and #310. Jack Landes, Landes Oil Co. and Landes Vending, leased Building
#310 and has moved his office and operations to the Airport Industrial Center.
, , ,
, ,'~av,' lip their bui Jdings due to the closing (I; :-j"hil! lng ~an, r.
1! uilding they \<!ere Leasing lr,Jm the Salina ,\i.rp,Jrt\lthorit\' '!lee;
. n "!>"i used :is tile Sllb-P(I,~t Comma;l,l Headquarters aill ~lwr. ;,uilding
;~-,,>d t ,'nLted International Co.. \;ho deal with COr\"" :md brass
" cxpe t to Sect u? a manufacturing business.
,', ¡
¿¡ ;,
ll, ,'r',..,
¿ch i r _r;~; :orporation continues to expand and in 1977 tht:\! I'ornpleted a
;)ajn'~ill:.J Lli i: ity in Hangar bCJ6. It is an elaborate fali] .itv !lId \\'i11 take
,\r,' ,II t]¡" finishing UL Bt;C'cll Aircraft manufactured at the Sd: ,nit Airport
IT 'òtl"1tl'r tor 'he foreseeable future.
'Liler d ] "pm,,'nL. of interest are two ne'..J businesses at the north entrance
t,' till' industrial Center, I'n the east side of CentennL.il Road.';elson Con-
;trucc' 11 (" )¡¡rchased the north area and has built an attractive office
:"lildin..; an ,1 ,;hop :'uLlding, and has plans for other buildings to the east.
Hilr') n ;1:'l;~\Jction Co. i'urchased a building site on the south side of the
[O,j(1 Lca,ilng [,) Ha6tings Dynamo1d Corporation, ;'nd has completed an office
huiLl ing and a shop bui lding, and has plans for lltilizing tht-> area Lo the east.
't f:.; ¡'c' L,,~ve'¡ they represent an improyement for tile nort h ent ranl:e to the
inJtlstriai Center.
Ihe Salina Airport Authority purchased a 30-ft blade snow plow powered by a
¡'1;:b i,: L t 1(". ,his purchase was made under an ADA? (Airport Deve 1 oprnent Aid Program)
g[;;[1t. ,fl(;, snow plow should be delivered for use this ,,'inter,
A] l l Lhe ~aJina Airport Authoritv's property, airfield iaciJities and
h:¡iljin,;s n lye been under a planned apd exec\!ted maintendn,:c:' pr,)gram during
the ;'~:st l',ìr.
"Ians : or 1.978 include t:nlarging the Terminal Building, both tile lcbby space
and ire igi1t area: ;)U1J ding a new warehouse for Sdl\<!an' s Sa If'S FLtf'rprises Inc.,
and I he'r additions tor Schwan's.
The Salina Airport Authority' appreciates the cooperation it has received from
all segments f the Salina community during the past year, and pledges its
efforts toward continued progress and expansion of the Salina Municipal Airport
and the Salina Airport Industrial Center.
SincereLy,
SALINA AllU'f)RT AUTHORITY
~/. ".' j.--:: '.- /,1.. <--,
bean Tinkler
Chairman
r)': :: ,s
SALINA AIRPORT AUTHORITY
Salina, Kansas
AUDIT REPORT
Year 1977
A. H. LECKBAND & CO.
Certified Public Accountants
Accounting Bldg., 719 East Crawford
Salina, Kansas 67401
SALINA AIRPORT AUTHORITY
TABLE OF CONTENTS
Page
Auditor's Opinion
1
Financial Statements
Balance Sheet
Statement of Changes in Fund Balance
Statement of Revenues and Expenditures
Statement of Changes in Financial Position
2
3
4
5
Supplemental Schedules
Comments
Detailed Schedules:
Operating Revenues
Operating Expenditures
Capital Expenditures
Bonds of Indebtedness (Summary)
General Obligation Bonds
Building Revenue Bonds-Series 1971
Building Revenue Bonds-Series 1972
Building Revenue Bonds-Series 1973
Building Revenue Bonds-Series 1973-2
Reconcilement of Fiscal Agency Account
Schedule of Investments
Insurance in Force
6
7
8
9
10
11
12
13
14
15
16
17
18
A. H. LECK8AND Be Co.
Certified Public Accountanu
A. H. LECKBAND. C.P.A.
EUGENE O. HARRISON. C.P.A,
ACCOUNTING BUILDING
7\9 EAST CRAWFORD
SALINA. KANSAS 6740\
M."..". A...",CAN IN.TlTVTW
- C.ItT'I'III:D PUBLIC ACCOUNTANT
AREA CODE 813 827-72~~
February 1, 1978
To the Directors
Salina Airport Authority
Salina, Kansas 67401
Gentlemen:
We have examined the financial statements listed in the table of contents
of the Salina Airport Authority, Salina, Kansas, for the year ended
December 31, 1977. Our examination was made in accordance ~.,ith generally
accepted auditing standards and the Minimum Standard Audit Program approved
by the State Municipal Accounting Board, March 19, 1976, and accordingly
included such tests of the accounting records and such other auditing pro-
cedures as we considered necessary in the circumstances.
In our opinion, the aforementioned financial statements present fairly
the financial position of the General Operating Fund of the Salina Airport
Authority at December 31, 1977 and the results of its operations and the
changes in its financial position for the year then ended, in conformity
with generally accepted accounting principles applied on a consistent
basis.
The accompanying supplemental schedules and related information listed
in the table of contents are not necessary for a fair presentation of
the financial statements, but are presented as additional analytical data.
This information has been subjected to the tests and other auditing pro-
cedures applied in the examination of the financial statements mentioned
above and, in our opinion, is fairly stated in all material respects in
relation to the financial statements taken as a whole.
A /1 qdJ¡--J- .f L1
A. H. LECKBAND & co.
(!J W~
Eu ene O. Harrison, C.P.A,
in charge of and actively
engaged on this audit.
1
SALINA AIRPORT AUTJlQL ITY
GENERAL OPERATING FUND
BALANCE SHEET
ASSET?
December 31, 1977
Airport Building
Revolving Revenue
Account Account
General
Operating
Fund
December 31, 1976
Airport Building
Revolving Revenue
Account Account
General
Operating
Fund
CURRENT ASSETS
Cash in Banks $ 24,527.25 $ 10,398.95 $ 34,926.20 $ 30,592.22 $ 124,597.32 $ 155,189.54
Certificates of Deposit (at cost) 250,000.00 250,000.00 500,000.00 315,000.00 90,000.00 405,000.00
Due from Building Revenue Account - - - 1,109.59 - 1,109.59
Prepaid Bond Interest - 1,354.73 1,354.73
TOTAL CURRENT ASSETS L11!+_, 527.25 $ 261,753.68 $ 536 ,}80. 93 ~Q,101.81 $ 214,597.32 $ 561,299.13
$ 173,483.88 $ - $ 173,483.88 $ 70,935.76 $ - $ 70,935.76
519,481.89 1,925,142.43 2,444,624.32 434,967.89 1,883,377.43 2,318,345.32
409,463.10 - 409,463.10 381,224.12 - 381,224.12
478,000.00 - 478,000.00 478,000.00 - 478,000.00
$1,580,428.87 $1,925,142.43 $3,505,571.30 $1,365,127.77 $1,883,377.43 $3,248,505.20
~5t~,956.1Z i2,219,896.1~ !}-,~,074,852.23 .a..Lll ,829.58 $2,13rL':.74.75 $3,84.:z....8~_.33
RESTRICTED ASSETS
Certificates of Deposit (at cost):
Provision for Bond Reserve
Provision for Replacement and
Depreciation
$
$
21,000.00 $ 21,000.00
12,000.00 12,000.00
33,000.00 $ 33,000.00
TOTAL RESTRICTED ASSETS
$
$
FIXED ASSETS (at cost)
Equipment
Buildings
Other Improvements
Land
TOTAL FIXED ASSETS
TOTAL ASSETS
LIABILITIES AND FUND BALANCE
CURRENT LIABILITIES
Payroll Deductions
Due to Airport Revolving
Bonds Payable
Accrued Bond Interest
$
4,645.27 $ - $ 4,6t~5.27
- -
90,000.00 90,000.00
6,802.08 6,802.08
4,645.27 $ 96,802.08 i-.-l°J,447.35
Account
TOTAL CURRENT LIABILITIES
$
LONG-TERM LIABILITIES
Bonds Payable
$
$1,270,000.00
$1,270,000.00
FUND BALANCE
$1 ¿:;Q....310 .85
$
853,094.03
$2,703,404.88
~.9 7 t~ , ~_21~l
7
TOTAL LIABILITIES AND FUND BALANCE
~L854, 956.12 .$L1,19 ,896.11
$
$
21,000.00 $ 21,000.00
12,000.00 12,000,00
33,000.00 $ 33,000.00
$
$
$
4,979.75 $ - $ 4,979.75
1,109.59 1,109.59
155,000.00 155,000.00
26, 943 .t~8 26,943.48
4,979.75 $ 183,053.07 $ 188,032.82
$1...430,000.00 $1...t¡]0, 000.00
$
$
$1,206_,8/+9.83
$
517,921.68
$2,])4,771.51
$1,7l~~~ $2,130,974.75 !}3,842,804.33
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATE~mNT OF Ct~~GES IN FUND BALANCE
FUND BALANCE-January 1
January 1 to December 31,
Airport Building
Revolving Revenue
Account Account
$1,706,849.83 $517,921.68
1977
General
Operating
Fund
$2,224,771.51
January 1 to December 31, 1976
Airport Building General
Revolving Revenue Operating
Account Account Fund
353,782.45 $ 226,903.47 $ 580,685.92
$
~D
Excess of Revenues over Expenditures
Fixed Assets Recorded
143,461.02 335,172.35 478,633.37 21,4/17.10 226,740.78 248,187.88
- - - 1,331,620.28 1,794,277.43 3,125,897.71
$1,850,310.85 $853,09!f.03 $2,703,404.88 $1,706,849.83 $2,247,921.68 $3,954,771.51
- - - - 1,730,000.00 1,730,000.00
.n.....820,310 .85 llil... 0 9!¡ ~O 3 $2,703.404~88 R. 70~,ß!I~~?~~ $ 517, 9Z.L68 ~L 224, 771 .-.2J
DEDUCT
Bonds Payable Recorded
FUND BALANCE-December 31
3
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATENENT OF REVE¡-nJES AND EXPENDITURES
REVENUES
Operating Revenues
Proceeds of Airport
Program Grant
Property Sales
TOTAL REVENUES
EXPEND ITURES
Operating Expenditures
January 1 to December 31, 1977
Airport Building General
Revolving Revenue Operating
Account Account Fund
Development Aid
$364,908.38 $375,492.09 $740,400.47
75,356.82 - 75,356.82
- 31,180.00 31',180.00
$440,265.20 $1,06,672.09 $846,937.29
January 1 to December 31, 1976
Airport Building General
Revolving Revenue Operating
Account Account Fund
$339,937.80
$673,777.22
$333,839.t12
$339,937.80
$673,777.22
$333,839.42
EXCESS OF REVENm~S OVER EXPENDITURES
296,804.18 71,1199.711 368,303.92 ~490.70 107,098.611 ~25,589.34
$143_,461 .O~ §3}_~~L2 .35 ID8,633.37 1__11...JéLIQ §J.]:~6..,-]- 4 Dc' 7 8 ~248~~L=8..§.
4
SALINA AIRPORT AUTHORITY
GENERAL OPERATJP7G FUND
STATEW,\NT OF CHANGES IN FINANCIAL POSITION
January 1 to December 31 ~ January 1 to December 31 ~
Airport Building General Airpor t Building General
Revolving Revenue Operating Revolving Revenue Opera Ling
Account Account Fund Account Account Fund
FUNDS WERE PROVIDED BY:
Excess of Revenues over Expenditures $143,461.02 $335,172.35 $478,633.37 $21,447.10 $226,740.78 $248,187.88
Decrease in Working Capital - - - 12,060.39 19,359.22 ~419.61
-
TOTAL FUNDS PROVIDED il43, Lf61----9.l $335 ,~tL~~_l~ ffiih..~~l.,3 ~ 133, 507 .{~2. $246.200.00
FUNDS vlERE APPLIED TO:
Acquisition of Fixed Assets $215,301.10 $ 41,765.00 $257,066.10 $33,507.49 $ 89,100.00 $122,607.49
Increase in Restricted Assets - - - - 2,000.00 2,000.00
Reduction of Long-Term Liabilities - 160,000.00 160,000.00 - 155,000.00 155,000.00
Increase in Working Capital ( 71,840.08) 133,407.35 ~,)67.27 - - -
TOTAL FUNDS APPLIED ~43 JI_6Jc~'-~~ ~]35, 172 .)-.2 ~L~7JLJ~}} .XL $33 ,Y)J~Ji1 ';;24_6~,lQQ_--,00 $ 2 7 9 , ~QZ--!+'~
Ct~NGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in Banks
Certificates of Deposit
Due from Building Revenue Account
Prepaid Bond Interest
($ 6,06LI.97) ($114,198.37) ($120,263.34)
( 65,000.00) 160,000.00 95,000.00
(1,109.59) - (1,109.59)
1,354.73 1,354.73
($27,215.91)
15,000.00
1,109.59
$ 8,693.85 ($ 18,522.06)
10,000.00 25,000.00
1,109.59
Current Liabilities-Decrease
Payroll Deductions
Due to Airport Revolving
Bonds Payable
Accrued Bond Interest
(Increase)
334.48
1,109.59
65,000.00
20, 1LIl .40
334.48
1,109.59
65,000.00
20,lLrl.40
(
954.07)
(
1,109.59)(
10,000.00)(
26,9[13 .L18) (
954.07)
1,109.59)
10,000.00)
26,9[13.48)
Account
TOTAL INCREASE (DECREASE)
($ 7~"ß,,!¡g=~ß.) ~XL[107-,)5 § 6J...5-~L=?l
(~-l~0.g0-,-~) (1 1 cz..~2iL!~~) (~]1~~_4], 9 :.?J)
5
COMMENTS
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:
Ben Vidricksen, Chairman-term expired April 26, 197;1
Dean Tinkler, Chairman
W.P. Horton, Vice-Chairman-appointed April 26, 1977
John Zimmerman, Secretary-Treasurer
C.J. Wertz
Nathan B. Butcher
2.
The following officials, appointed by the Salina Airport Authority
Board of Directors, served during the period of our examination:
John F. Scanlan, Executive 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.
Capital expenditures anticipated for 1978
Airport Revolving Account
Terminal building expansion
Parking lot completion
Building Revenue Account
ADM-hangar
Schwan's-warehouse
Rickel-paint booth
inc lude the following:
$ 45,000.00
18,000.00
40,000.00
100,000.00
52,000.O'Q.
$255,000.00
6
SALINA AIRPORT AUTlJORlTY
G E NX1Y.J", 0 P !~~;~~Œt:ç,-BJ_íiI~
OPERATINC, IŒVENUES
----~_.._---
January 1 to Deccmhcr 31, 1912 Janu~ 1 to December 31, 197_~
Airport Building General Airport Building General
Revolving Revenue Opera tin;; Revolving Revenue Operating
Account Account Fund Account Account Fund
---- -- --
Building rents $218,114.08 $297,011.94 $515,126.02 $210,311.67 $285,161.86 $495,473.53
Agricultural land rents 7,121.25 6,946.1+1 14,067.66 4,845.00 3,359.00 8,201+.00
Other land rents 13,220.85 1,350.00 14,570.85 10,648.16 1,000.00 11,648.16
Hangar rents - 15,351.75 15,351.75 - 14,777.50 14, 77 7 .50
, Other rents 100.00 38,000.04 38,100.04 100.00 17,815.34 17,915.31+
Fixed base operator 36,543.46 - 36,543.46 26,719.71 - 26,719.71
Landing fees 67,526.22 - 67,526.22 61,029 J+9 - 61,029.49
Commissions 1,021+.75 - 1,024.75 1,094.31+ - 1,094.34
Interest on investments 14,403.52 14,882.28 29,285.80 17,339.73 9,652.50 26,992.23
Interest on sale of property - 257.50 257.50 - 415.96 415.96
Sale of property - 1,402.84 1,402.84 - 1,546.26 1,546.26
Reil11bursement..FAA-moHing 10.00 - 10.00 97.50 - 97.50
Reimbursement-airport security 5,472 .00 - 5,472 .00 5,472.00 - 5,472 .00
Miscellaneous income 1,372.25 289.33 1,661.58 2,280.20 111.00 2,391.20
TOTAL OPERATING REVENUES $364, 908 .3~ $37~,49_2.09 ~1+00.47 ~).JL93 7 .80 ~333 ;~~39 J+2 i§ll, 777.22
$ 59,30!1.00 $ - $ 59,30!1.00 $ 55,269.7(, $ - (: <;<; ')c-o 7C-
y JJ,~VJ"V
84!,.29 - 8!1!1 .29 1,216.32 - 1,216.32
289.70 - 289.70 326.15 - 326.15
1,851.78 - 1,851.78 3,081.39 - 3,081.39
706.99 - 706.99 1,0!10.66 - 1,040.66
5,923.26 - 5,923.26 5,198.!10 - 5,198.40
29,3!12.3!, - 29,342.3!r 27 , 809.13 - 27,809.13
7,319.71 - 7,319.71 6,951.30 - 6,951.30
6,538.59 - 6,538.59 4,286.74 - 4,286.7!1
1,884.117 - 1,884.47 1,896.74 - 1,896.74
- - - ( 5.86) - ( 5.86)
10,527.96 - 10,527.96 7,485.16 - 7,485.16
- 702.32 702.32 - - -
!1,329,78 - ~329. 78 2, 8!1 9 .1,5 1.00 2,850.115
$128&62.87.L 702.32 $129,565.19 $117,405.% $ 1.00 $117,406.34
$ 37,990.75 $ - $ 37,990.75 $ 60,298.98 $ - $ 60,298.98
2,389.118 - 2,389.118 19,933.07 - 19,933.07
5,413.25 - 5,413.25 5,355.59 - 5,355.59
19,639.06 - 19,639.06 16,583.10 - 16,583.10
1,272.14 - 1,272.14 1,495.51 - 1,495.51
1,032.75 - 1,032.75 975.55 - 975.55
84,327.03 - 8!, ,327.03 79,!1!12.15 - 79,442.15
102.114 - 102.44 6.01 - 6.01
1,927.42 - 1,927.42 2,218.70 - 2,218.70
13,8!16.99 - 13 , 846 .99 14,776.70 - 14,776.70
$167, 9!rl .31 $ - $167,9!rl.31 $201,Q85.36 $ - $201,085.36
SALINA A] ¡:1'(W¡ fJJTJIO:èlTY
fJiiŒHt\ T,--9-~J:EAT] 'iS~DTJ~~2
.9_r:¡':n AT ] NC2-E X .J~~~'!.I.JJ21!l~;~::;'
OFFICE AND ADmNISTRATIOì~
Office salaries
J;1.r.~~I;¡ry~~.o De(":"~:.!.'~~~L.lJ77
Airport Bllildiuf, General
Revo1vinf, Revenue Operating
Account Accour1i Fund
Office supplies
Postage
Car expense
Travel expense
Legal and auditing
Insurance
Social security tax
Employees retirement
Telephone
Reimbursable charges
Airport security
Agricultural land expense
Other office and administration
TOTALS
HAINTENANCE
Building maintenance
RullIvays, taxܡays and ramps
Equipment gas, oil and repairs
Utilities
Grounds maintenance
Janitor supplies
Haintenance salaries
SnoH removal
Airfield lighting equipment
Other maintenance expense
TOTALS
BOND AND INTEREST
Bond interest expense
Bond commission and postage
Expense relating to hond issue
$
$70,082.29
65.13
650.00
$ 70,082.29
65.13
650.00
--
TOTALS
$
$70,797.!r2
$ 70,797.42
TOTAL OPERATING EXPENDITURES
$296 ,_80~~:..1J3 $ 71.J,-2.CJ.., 7!,-
~368 ,}03. 9~z.
8
Januil rY...lto Dee en~ber 3 L_1J!..ï'i!.
Airport Building General
Revolving Revenue Operilting
Account Account Fund
-- -- -
$
$106,359.1!,
38.50
700.00
$106,359.l!,
38.50
700.00
$
$107,097 .6/,
$107,097.64
1lU3.t+90 .70
B.QLQ2c'L.2!l ~,-g.¿89, 3/1
20,000.00
$ 84,5l!f.00 $Lf1,765.00 $126.279.00 $20,000.00 $89,100 .00
$ 28,238.98 $ - $ 28,238.98 $ - $
- - - 880.00
-
$ 28,238.98 $ - $ 28,238.98 $ 880.00 1
$21 ~"lQL 1 0 ~!f L->.LCi5 :g~~ 1£21~066 .10. £33,=207_._49 ~~ 1 O_O=-,~CJ,
SALINA AIRPOla AUTIlOJ~ITY
GENERM" 01'1:' TING FUND
------ -------
CAPITAL EXP¡:;WlTUIŒS
----------
EQUIPHENT
Fire and rescue truck
equipment
Security fencing
Engineering costs of
carrier vehicle
1976 Hatador station
7 H.F. riding mOh'cr
JaI!..t~'L!::.J.:.-L~o Decemher 31, 1977
Airport Building General
Revolving Revenue Operating
Account Account Fund
--
and related
TOTAL EQUIP!-mNT
$ 33,416.07 $
68,143.34
snOl'1 p101'; and
988.71
\'Iazon
-
$102,548.12 $
1XQL 5L+8 .12
$ 33,416.07
68,1!<3.34
988.71
BUILDING IHPROVEHENTS
Harehouse-Sch\.Jan's Sales Enterprises, 1nc.$ 8/+,514.00
T-hangars
Hangar-Nelson Aviation
Bldg. 313-Jarvis Construction Co., Inc.
$
30,865.00
10,900.00
$ 84,514.00
30,865.00
10,900.00
TOTAL BUILDING IHPROVE~lliNTS
OTHER IHPROVEHENTS
Terminal parking lot
6" sevier line across Scanlan Avenue
TOTAL OTHER IMPROVE~lliNTS
TOTAL CAPITAL EXPENDITURES
Ja nuél~L_~()_..Qec~!1i].?!::L..J~_}97 6
Airport Building General
Revolving Revenue Operating
Account Account Fund
--
---
$ - $
7,907.73
$
7,907.73
4,499.81
219.95
4,499.81
219.95
111..,627 JI9
$
$ 12,627.1+9
$
$
$
89,100.00
89,100.00
20,000.00
$109,100.00
$
880.00
$
880.00
WLQg7_" L¡ 2.
SALINA AIRPORT AUTHORITY
BONDS OF INDEBTEDNESS
December 31, 1977
General Obligation Bonds
Build ing Revenue Bonds-Series 1971
Building Revenue Bonds-Series 1972
Building Revenue Bonds-Series 1973
Building Revenue Bonds-Series 1973-2
Original
Issue
$ 790,000.00
250,000.00
500,000.00
350,000.00
350.000.00
$2.240.000.00
Principal Outstanding
Paid Balance
$350,000.00 $ 440,000.00
150,000.00 100,000.00
180,000.00 320,000.on
100,000.00 250,000.00
100,000.00 250.000.00
$880,000.00 $1.360.000.00
10
SALINA AIRPORT AUTHORITY
GENERAL OBLIGATION BONDS
December 31, 1977
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
February 1, 1967
$790,000.00
4.25, 3.375, 3.4%
February 1, 1988
$350,000.00
$440,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
1978 $ 40,000.00* $ 15,581.29
1979 40,000.00 14,231.29
1980 40,000.00 12,881.29
1981 45,000.00 11 ,446.92
1982 45,000.00 9 , 928 .1 7
1983 45,000.00 8,409.42
1984 45,000.00 6,885.00
1985 45,000.00 5,355.00
1986 45,000.00 3,825.00
1987 45,000.00 2,295.00
1988 45,000.00 765.00
$480,000.00 $ 91.603.38
*
Paid December 30, 1977
11
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS - SERIES 1971
December 31, 1977
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
Schedule of Payments
Due in
Year
1978
1979
1980
1981
Bond
Principal
$ 30,000.00*
30,000.00
35,000.00
35,000.00
$130,000.00
*
Paid December 30, 1977
January 1, 1971
$250,000.00
5%
January 1, 1981
$150,000.00
$100,000.00
$
Bond
Interest
5,750.00
4,250.00
2,625.00
875.00
$ 13,500.00
12
SALINA AI~PO~~ AU~HO~ITY
EUILDING REVENUE LON~S - SERIES 1972
December 31, 1977
Interest Rate:
July 1, 1972
$500,000.00
4.5, 5%
July 1, 1984
$180,000.00
$320,000.00
Dd:':e or Issue:
A;i,ount of Issue:
l-laturity Date:
Principal Paid:
Outstanding Balance:
Schedul~ of Pavcents
Due in
EOild
Bond
Yc'a:-
Pl-jnC::~ë)Co.
111te1-e5 t
--
1933
$ 40,000.00
40,000.00
45,000.00
45,000.00
50,000.00
50,000.00
50)000.00
$ 15,375.00
13,575.00
11,775.00
9,750.00
7,500.00
5,000.00
2,500.00
1978
1979
1980
1931
1982
1984
$320,000.00
$ ó5,475.00
.L.)
SALI~A AIRPORT AUTHOil1TY
EUIIoiJEG RE\T;~~::TE BO"TDS - Sr::RIES 1973
December 31, 1977
Dute of 13slle:
Þ.,:-,aunt of Issue:
Princij)a1 Paid:
Outstanding Balance:
Janllary 1, 1973
$350,000.00
5.25%
Februdry 1, 1985
$100,000.00
$250,000.00
Interes\: iZate:
Yiaturity Date:
Schedule of Payments
Due in
Do;,,1
Bond
v~ ",'-
"_CL_'-
1978
1979
P¡--Lnc:
$ 25,000.00
25,000.00
25,000.00
25,000.00
L,O,OOO.CO
40,000.00
35,000.00
35,000.00
Interest
1984
1985
$ 12,468.75
11,156.25
9,843.75
8,531.25
6,325.00
L" 725 .00
2,756.25
918.75
1930
1981
1982
1983
$250,000.00
$ 57,225.00
14
SALI~A AIRPORT AUL~ORITY
3~r;::LDgG R:~VE?\lTT': RO~DS - Sl~RIES 1973 -2
December 31, 1977
Ii-lcerest Rate:
December 31, 1973
$350,000.00
6, 6.5%
December 1, 1985
$100,000.00
$250,000.00
Date of Issue:
knount of Issue:
}1aturity Date:
Principal Paid:
Outstanding Balance:
Schedule of Pavrnents
Due Íi.,
Bond
Bond
Interest
$ 16,000.00
14,500.00
13,000.00
11,375.00
9,750.00
7,150.00
4,550.00
2,275.00
Y,,"~.r
P":i..i1ci_')¿~.
--
1978
1979
1930
1981
1982
1983
1984
1985
$ 25,000.00
25,000.00
25,000.00
25,000.00
40,000.00
40,000.00
35,000.00
35,000.00
.if_50, 000 .00
$ 78,600.00
15
SALI~A AIR?ORT AUTHORITY
RECOXCILEl'IE:\T OF FISCAL AGENCY ACCOU~T
December 31, 1977
D,,:.Ll,:";C:':: h7ITH FISCAL AGJ.::NCY -January 1, 1977
KD::T--:l,XCES
~.;¿itu;,,-ecl bonds
:':ntere;:; t: cou~)ons
Commission &nd postage
TOTAL REXI--:TA~CES A~u BEGINNING BALfu\CE
~ŒT\.R;";S
Cance1-~e¿ OO;'lGS
Interest cou?ons paid
Co~~ission and post&gc retained
3Aù\~CE WITH FISCAL AGENCY-December 31, 1977
$LrO,GCO.OO
16,931.29
38.6e.
$40,000.00
16,762.53
38. se
ANALYSIS OF BALANCE HITH FISCAL AGEXCY
December 31, 1977
Gener&1 Obligation Bond
General Obligation Bond
Bond Xo.
112
113
Coupon No.
19
19
Date Due
2-1-77
2-1-77
$
56,%9.89
$56,969.89
56.801.13
$
168.76
Al.iO;-;, t
$
, ~,n
0"'-.')0
:)4.33
$
168.76
~O
AI~?J~T REVOLVI~G ACCOU~T
SALI~A AIRPORT AUTHORITY
SCIII~D~rLE OF I:\'VES":"Ì'ŒNTS
December 31, 1977
Ld1ance
j -1- 77
C~rti£icates of deposit $315,000.00
,,'JILJIi\'G RE~~UE ACCOUl\"T
Certificates of deposit
TOT,,~,~- -
G2~ERAL OPERATL\G FUND
123.000.00
3438,000.00
Purchases
Ye&r 1977
$
155,000.00
885,000.00
$1,040,000.00
Redemp:íons
Year 1977
$220,000.00
725,000.00
$945,000.00
B&lance
12-31-77
$250,000.00
283 .,000 .00
$533,000.00
17
Wor~mC~'5 Compensation and
Lmploycr's Liability
Comprehensive General
Liability
O,v"ers, :::"andlords, and
Tenants Liability
Ren~al Luildings-
Industrial
Kental3uildings-
Ð-,ve 11 ings
Airport Terill~nal and
Rental buildings
VeJ:-,icles
SALli\A AIlZ?ORT AUTHORITY
INSURANCE IN FORCE
December 31, 1977
Tyee or CoverOQe
bodily injury and
property damage
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
;:;odily injury
P;:-operi::y damage
Fire, lightning and
transportation, theft,
combined additional
coverage
Xedical pa~TIents
Uninsured motorists
k--nount of
Covera<'},e
$
100,000.00
5,000,000.00
1,000,000.00
431,570.00
57,000.00
l,949,000.OO
100/300,000.00
50,000.00
28,600.00
2,000.00
15/30,000.00
Co-Insurance
Percentage
90/0
18