Audit Report - 1978
BO',~I' "I DIRECTORS
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S.A.LIN.A. .A.IRFOR T .A. UT:H:ORJ:rr"Y
SALINA MUNICIPAL AIRPORT
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February 26, lQ7~
Gentlemen:
The Salina Airport Authority submits an accounting of its operations for the
calendar year 1978, as reported by A. 'I. Leckbarrl and Co., it s independent
Certified Public Accountants.
1978 was a very good year for the Salina Municipal Airport with increased
boardings by Frontier Airlines, increased construction and increased employment
at the Salina Airport Industrial Center.
Tn June 1978 Frontier Airlines initiated jet service to Denver, Him-stop. This
has been a very popular flight. Frontier now has three jet flights and two
flights with Convair 580s. Boardings have increased from 20,437 in 1977 to
23,625 in 1978, :>.nd Frontier predicts 1979 boardings to be 28,000. FAA air
operations count for 1978 was 93,569, a decrease of 12% over 1977. The
decrease was caused by a decrease in general aviation operations. TI1A con-
tinued to utilize the airport for training operations.
Due to the increase in Frontier board~ngs and in general an increase in the
activity at Salina Municipal Airport, the Salina Ai,rro: t .\uthority decided to
remodel and expand the Airport Terminal Building. An arc!litect-engineer
contract was negotiated with Wilson and Company, Architect and Engineers, to
prepare the plans. This project will be built under Airport Qpvelopment Aid
Program (ADAP). FAA will help pay for 50% of construction in pubJic use areas
and the rest will have to be funded from Salina Airport Authority operating
funds. The design is complete and the plans and specifications have been
approved by FAA Regional Office, Kansas City, Nissouri. Bids will be opened
27 March 1979. It is hoped that construction can be completed this summer.
1 f everything turns out as planned, the Terminal will be a building \.Thich will
be a credit to the community and a needed asset to the Municipal Airport.
Salina Airport Authority has contracted to overlay a 2000' x 300' portion of
primary Runway 17-35 with asphalt concrete in about the center of the runway.
Brown and Brown Inc., have the contract and the contract price was $~,99,000.00.
This is an ADAP Project, and this overlay will change the profile grade of
that portion of the runway and drain the water both east and west, instead of
all of the water going to the east and northeast. It is believed this will put
the primary runway in good shape.
A new snow plow with a 30-foot blade was received for the first major snowfall
the last of December and it has proven to be a real help in maintaining the
runways and ramp areas. This snow plow was obtained under an ADAP grant at a
cost of $68,107.00. The FAA paid 90% of the cost.
Construction continues for Tony's Pizza facility. Another 10,000 sq. it.
warehouse was built by the Salina Airport Authority on warehouse row. It is
being used for mixing of spices and storage. Also, Tony's Pizza are building
two new buildings, a compressor building and a 65-foot high holding freezer, at
the main site. This will make a good addition to the plant facility.
The Authority also leased Tony's Pizza Building #394 at the east entrance to the
Industrial Center. They have completely renovated and rebuilt it for a laboratory.
Tt is a good looking facility.
The Authority leased Builidng #382 to David Nieses d/b/a Humphry Windows and
Doors. They will be manufacturing metal windows and doors.
i,'lory Oil Co. leased the old World War II aqua fuel system tanks, seven tanks
25,000 gallons each, and they are using them for fertilizer storage.
Port-,~-Port Midwest, a steel manufacturing plant that makes portable aircraft
hangars, leased the 30,000 sq. ft. warehouse-type building vacated by Custom
Metals and has a good manufacturing operation, with sales six months in advance
of production. .
The Salina Airport Authority, airfield facilities, and buildings have been
under a planned and executed maintenance program during the past year. Two
Beech aircraft hangars, Hangar #509 and Hangar #606, were reroofed and Salina
Airport Authority and Beech Aircraft shared the cost of rebuilding the heating
plant in the big Hangar #959.
The Salina Airport Authority appreciates the cooperation it has received from all
segments of the Salina community during the past year, and pledges its efforts
toward continued progress in its area of responsibility.
Sincerely,
SALINA AIRgORT AUTHORITY
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Dean TinKler
Chairman
DT:ks
SALINA AIRPORT AUTHORITY
Salina, Kansas
AUDIT REPORT
Year 1978
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.
LECKBAND & Co.
A, H LECK[]ANO, C.P,A.
EUGC,"JE 0 HARRISON, C,P,A
Certified P"blic Accou'1tants
ACCOUNTING BUILDING
719 EAST CRAWFORD
SALINA. KANSAS 67401
M"....E"5 A"""'CAN IN5TITUT"
00' CE~T'FIED rU'LIC AccOU.,TA"B
AR!:A CO"E 913 ~27.72"
February 5, 1979
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, 1978. Our examination was made in accordance with 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, 1978, and the results of its operations and the
changes in its financial position for the year then ended, in co~forrnity
with generally accepted accounting principles a?plied on a consistent
basis.
The accompanying supplemental schedules and related information listed
in the table of contents are not necessary for a fair present~tion 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.
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A. H. LECKBAND & co.
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Eug~ne O. Harrison, C.P.A.
in charge of and actively
engaged on this audit.
1
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
BALANCE SHEET
ASSETS
-
CURRENT ASSETS
Cash in Banks
Certificates of Deposit (at cost)
Prepaid Bond Interest
ADAP Receivable on Snow Plow
TOTAL CURRENT ASSETS
RESTRICTED ASSETS
Certificates of Deposit (at cost):
Provision for Bond Reserve
Provision for Replacement and
Depreciation
TOTAL RESTRICTED ASSETS
FIXED ASSETS (at cost)
Equipment
Buildings
Other Improvements
Land
TOTAL FIXED ASSETS
TOTAL ASSETS
LIABILITIES :\:11) FU'!') ßAL\"ICE
CURREÌ'rr LIABILITIES
Payroll Deductions
Bonds Payable
Accrued Bond Interest
Balance Due on Snow Plow
TOTAL CURRENT LIABILITIES
LONG-TERH LIABILITIES
Bonds Payable
FUND BALANCE
TOTAL LIABILITIES AND FUND BALANCE
December 31~
Airport Building General
Revolving Revenue Operating
Account Account Fund
$ 29,779.05 $ 4¿~,745.27 $ 74,524.32
100,000,00 300,000.00 400,000.00
- 2,226.59 2,226.59
61,296.84 - 61,296.84
~1,075.89 $ 346,971.86 $ 538,047.75
$
$
21,000.00 $ 21,000.00
12,000.00 12,000.00
33,000.00 $ 33,000.00
$
$
December 31, 1977
Airport Building General
Revolving Revenue Operating
Account Account Fund
$ 24,527.25 $ 10,398.95 $ 34,926.20
250,000,00 250,000,00 500,000.00
- 1,354.73 1 ,354 . 73
- - -
$ 274,527.25 $ 261,753.68 $ 536,280.93
$
$
21,000.00 $ 21,000,00
12,000,00 12,000.00
33,000.00 $ 33,000.00
$
$
$ 247,515.61 $ - $ 247,515,61 $ 173,483.88 $ - $ 173,483.88
651,018.52 1,987,022.43 2,638,040.95 519 ,L~81 .89 1,925,142.43 2,L,44,624.32
4{~6,530.36 - {¡46,530,36 ¿~09 ,1+63.10 - 409,463.10
478,000.00 - {¡78,000 .00 ¿~78 ,000 .00 - 478,000.00
$1,823,061+J+9 ß2.~.?, 022 Jd $3,810,086.92 $1,580,t~28.87 $1,925,142.43 $3,505,571,30
)1.~014_, 140. 3_~ ~L.~6_~994.-32. ~=-,381,--13¿~.67 §,L 85_4.._~6 .12, iL]19, 896..J:..l:. ~JJ.7{+ , 852.23
$ 1',976.10 $ - $ {¡,976,lO $ 1~,645,27 $ - $ ¿~,645,27
65,000.00 65,000.00 - 90,000.00 90,000,00
1,208.33 1,208.33 - 6,802.08 6,802.08
-_J' ,3_1.Q... ~ - - . ~L§..l.Q.:l'§' - - -
------- _..
?,..-.!J..286.iJ6 2..__6..6.L208, 13 $ 77 ,_992.,I,! $ (',6{,S,27 $ 96...fl!)2.08 $ lOl,f'{,7,35
$ - $l,llO,QOO.OO $l>.llQ,OOO,OO $ - ~L~70 L(1()O_:,OQ $1 no 000.00
--." u_-'--
$2,002,353,52 i!:..,l2Q_,785,96
$3,193,139J+8
:71o,,-QJ,!¡,~.c'.2~]Jl$ 3c>.=L62,~9')1~3.2 ~?!L ,}JJ.L.})fLß 7
2
$1~Q.,310_Ji2 }__8.'J3..1() "~I In,~),l,n)'¡(~/"R.§.
~l ,_ll!lf,,()C~6~L~ $:.>,:'> 1<),
,II.
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SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATHIENT OF CHANGES IN FUND BALANCE
FUND BALANCE-January 1
ADD
January 1 to December 31,
Airport Building
Revolving Revenue
Account Account
$1,850,310.85 $ 853,094.03
FUND BALANCE-December 31
Excess of Revenues over Expenditures
~z,353.52 ~30,785.96
152~042.67
337,691.93
1978
General
Operating
Fund
$2,703,404.88
489,734.60
il,l2.3_,139.48
3
January 1 to December 31, 1977
Airport Building General
Revolving Revenue Operating
Account Account Fund
$1,706,849.83 $ 517,921.68 $2,224,771.51
143,461.02
335,172.35
478,633.37
~820,310 .85
~33 ,094 .03
112Q3,404.88
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATEMENT OF REVENUES AND EXPENDITURES
REVENUES
Operating Revenues
Proceeds of Airport
Program Grant
Property Sales
Development Aid
January 1 to December 31, 1978 January 1 to December 31, 1977
Airport Building General Airpor t Building General
Revolving Revenue Operating Revolving Revenue Operating
Account Account Fund Account Account Fund
$439,092.75 $399,143.02 $838,235.77 $364,908.38 $375,492.09 $740,400.47
69,795.02 - 69,795.02 75,356.82 - 75,356.82
- 2,500.00 2,500.00 - 31,180.00 31,180.00
$508,887.77 $401,643.02 $910,530.79 $440,265.20 $406,672.09 $846,937.29
356,845.10 63,951.09 !+20,796.19 296,804.18 71,499.74 368,303.92
illL042.67 12]7,691.93 $489,734.60 il43 ,461.02 i335,l72.35 $478,633.37
TOTAL REVENUES
EXPENDITURES
Operating Expenditures
EXCESS OF REVENUES OVER EXPENDITURES
!f
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATn!ENT OF CHANGES IN FINANCIAL POSITION
January 1 to December 31, 1978 January 1 to December 31, 1977
Airport Building General Airport Building General
Revolving Revenue Operating Revolving Revenue Operating
Account Account Fund Account Account Fund
FUNDS ¡,ERE PROVIDED BY:
Excess of Revenues over Expenditures $152,042.67 $337,691.93 $489,734.60 $143,461.02 $335,172.35 $478,633.37
TOTAL FUNDS PROVIDED $152,042.67 $337,691.93 $489,734.60 $143.461.02 ~335,172.35 $478,633,37
FUNDS WERE APPLIED TO:
Acquisition of Fixed Assets $242,635.62 $ 61,880.00 $304,515.62 $215,301.10 $ 41,765,00 $257,066.10
Reduction of Long-Term Liabilities - 160,000.00 160,000.00 - 160,000.00 160,000.00
Increase in Working Capital (90,592.95) 115,811.93 25,218.98J (71,840.08) 133,407.35 61,567.27
TOTAL FUNDS APPLIED iü1,042.67 i;UL,691. 93 ~489, 734.60 lliJ,461.02 ill5,172.35 ~8,633.37
CI~NGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in Banks $ 5,251.80 $ 34,346.32 $ 39,598.12 $ (6,064.97) $(114,198.37 $(120,263.34
Certificates of Deposit (150,000.00) 50,000.00 (100,000.00) (65,000.00) 160,000.00 95,000.00
Due from Building Revenue Account - - - (1,109.59) - (1,109.59)
Prepaid Bond Interest - 871 .86 871.86 - 1,354.73 1 , 354 .73
ADAP Receivable on Snow Plow 61,296.84 - 61,296.84
Current Liabilities-Decrease (Increase)
Payroll Deductions (330.83) - (330.83) 334.48 - 334.48
Due to Airport Revolving Account - - - - 1,109.59 1,109.59
Bonds Payable - 25,000.00 25,000.00 - 65,000.00 65,000.00
Accrued Bond Interest - 5,593.75 5,593.75 - 20,141.40 20,141.40
Balance Due on Snow Plow (6,810.76) - __(~10~) - - -
TOTAL INCREASE (DECREASE) .$L~.cL 5 92 . 9 5 ) lli2... 8U. 93 .$ 25,218,98 ~C71 ,840.08) .$133,407.35 .$_61.567.27
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:
Dean Tinkler, Chairman
Nathan B. Butcher, Vice-Chairman-elected April 26, 1978
W. P. Horton, Vice-Chairman until April 26, 1978
Ben Vidricksen, Secretary-Treasurer-appointed April 26, 1978
John Zimmerman, Secretary-Treasurer-resigned April 7, 1978
C. J. Wertz-term expired April 26, 1978
Joe C. Cloud-appointed April 26, 1978
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.
6
Building rents
Agricultural land rents
Other land rents
Hangar rents
Other rents
Fixed base operator
Landing fees
Commissions
Interest on investments
Interest on sale of property
Sale of property
Reimbursement-FAA-mowing
Reimbursement-airport security
Miscellaneous income
TOTAL OPERATING REVENUES
GENERAL OPERATING FUND'
OPERATING REVENUES
January 1 to December 31, 1978 January 1 to December 31, 1977
Airport Building General Airport Building General
Revolving Revenue Operating Revolving Revenue Operating
Account Account Fund Account Account Fund
$250,456.37 $307,118.67 $557,575.04 $218,114.08 $297,011.94 $515,126.02
20,094.83 12,572.99 32,667.82 7,121.25 6,946.41 14;067.66
14,03/.56 1,600.00 15,637.56 13 , 220.85 1,350.00 14,570.85
- 19,244.40 19,244.40 - 15,351.75 15,351.75
150.00 38,000.04 38,150.04 100.00 38,000.04 38,100.04
34,363.51 - 3t~,363.5l 36,543.46 - 36,543.46
89,871.86 - 89,871 .86 67,526.22 - 67,526.22
1,192.99 - 1,192.99 1,024.75 - 1,024.75
13,713.63 18,795.64 32,509.27 14,403.52 14,882.28 29,285.80
174.97 174.97 - 257.50 257.50
1,636.31 1,636.31 - 1,402.84 1,402.84
- - 10.00 - 10.00
13,656.00 - 13,656.00 5,472.00 - 5,472 .00
1,556.00 - 1,556.00 1,372.25 289.33 1,661.58
.;>!>39,092.75 lli~~3. 0 2 ,$838,235.77 $364--908.38 ~L492 .09 $740,400.47
7
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
OPERATING EXPENDITURES
OFFICE AND ADP!INISTRATION
Office salaries
Office supplies
Postage
Car expense
Travel expense
Legal and auditing
Insurance
Payroll taxes
Employees retirement
Telephone
Airport security
Agricultural land expense
Other office and administration
TOTALS
HAINTENANCE
Building maintenance
Runways, taxiways and ramps
Equipment gas, oil and repairs
Utilities
Grounds maintenance,
Janitor supplies J
Haintenance salaries
Snow removal
Airfield lighting equipment
Other maintenance expense
TOTALS
BOND AND INTEREST
Bond interest expense
Bond commission and postage
Expense relating to bond issue
TOTALS
TOTAL OPERATING EXPENDITURES
J
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January 1 to December 31, 1978
Airport Building General
Revolving Revenue Operating
Account Account Fund
$ 62; RLI4 - 00 $
1,255.53
366.05
2,324.83
992.20
6,551.15
37 ,471 . 64
8,950.93
4,785.69
1,805.59
14,118.17
1,021.37
3,212.98
1,273.48
$145,700.13 $ 1,273.48
$ 44,197.01 $
5,227.40
6,927,78
20,964.03
785.14
1,541.50
97,561.32
1,226.54
1,324.48
31,389.77
$211 ~lJI!I_,97 i
$
$62,290.6!+
36.97
350.00
$
$62,677 ,61
_$J5()_,8!15",lQ )Jil..22L_09
$ 62,844.00
1,255.53
366.05
2,324.83
992.20
6,551.15
37 ,1+ 71 .64
8,950.93
4,78;5.69
1,805.59
14,118,17
2,294.85
3,212.98
$146,973.61
$ M,197.01
5,227.40
6,927.78
20,964,03
785.14
1,541.50
97,561.32
1,226.54
1,32!+.48
31,389,77
$211,ItI4.97
$ 62,290.64
36.97
350.00
$ 62,677 .61
).i20 ,296.19
8
January 1 to December 31, 1977
Airport Building General
Revolving Revenue Operating
Account Account Fund
C; <;Q ,n!, nn
T ~J,~~"~~
844.29
289.70
1 , 851.78
706.99
5,923 .26
29,342.34
7,319.71
6,538.59
1,884.47
10,527.96
4,329.78
$128,862.87
$ 37,990.75
2,389.48
5,413.25
19,639.06
1,272.14
1,032.75
84,327 .03
102.44
1,927.42
13,846.99
$167, 9Ll1 .31
<::
y
<:: "O ."v, f'\f'\
y ..JJ,..JV~.vv
702.32
844.29
289.70
1,851.78
706.99
5,923.26
29,342.34
7,319.71
6,538.59
1,884.47
10,527.96
702.32
4,329.78
$
702.32
$129,565.19
$
$ 37,990,75
2,389.48
5,413.25
19,639.06
1,272,14
1,032.75
84,327,03
102.L14
1,927.42
13,8LI6.99
$
$167~941,31
$ - $ 70,082.29 $ 70,082.29
65.13 65,13
650.00 650.00
-- --'---
L--=-- UQ., 797 .!12 !L1Q,L727 , !12
î_296 , 804 . 18 D_l~92~1~ ,?J.('.i~,. \(J ¡,9~
J
January 1 to December 31, 1978
Airport Building General
Revolving. Revenue Operating
Account Account Fund
GENERAL OPERATING FUND
CAPITAL EXPENDITlffiES
EQU IPt-'lE NT
72" Mower
Snow plow and carrier vehicle
Engineering costs of snow plow and
carrier vehicle
Fire and rescue truck and related
equipment
Security fencing
$ 5 , 213 . 60
68,107.60
710.53
TOTAL EQUIPMENT
$ 74~031. 73
BUILDING IMPROVEMENTS
Engineering costs of terminal expansion $ 2,168.63
Ramp cafe building 3,250.00
Warehouse-Schwan's Sales Enterprises, Inc. 126,118.00
Bldg. #260-Schwan's Sales Enterprises, Inc.
Steel siding-Beechcraft Employees Club
Warehouse-Schwan's Sales Enterprises, Inc.
T-hangars
Hangar-Nelson Aviation
TOTAL BUILDING U1PROVEl>-JENTS
$131~536.63
OTHER IMPROVEMENTS
Engineering costs of runway paving
Terminal parking lot
TOTAL OTHER IMPROVEMENTS
TOTAL CAPITAL EXPENDITURES
$
$ 5,213.60
68,107.60
710.53
$
$ 74,031.73
$
$
2,168.63
3,250.00
126, 118 .00
55,000.00
6,880.00
55,000.00
6,880.00
$61,880.00
$193~416.63
January 1 to December 31, 1977
Airport Building General
Revolving Revenue Operating
Account Account Fund
$ 21,534.28 $ - $ 21,534. 28 $ - $
15,532.98 - 15,532.98 28,238.98
-
$ 37,067.26 ,$--=-- $ 37,067.26 $ 28,238.98 ~
21!iLJ?15 . 62 J61.8~.0~ $30l~.515.62 1215.301.10 ~~7§5 .00
9
$ - $
-
988 .71
33,416.07
68,143.34 -
$102,5~8.l2 $
$
$
84,514.00
30,865.00
10,900.00
$ 84,514.00
$l~l, 765 .00
$
988.71
33,416.07
68,143.34
$102,548.12
$
84,514.00
30,865.00
10,900.00
$126,279.00
$
28~238,98
$ 28,238.98
~2c:')-l,O66, 1 ~
SALINA AIRPORT AUTHORITY
BONDS OF INDEBTEDNESS
December 31, 1978
Original Principal Outstanding
Issue Paid Balance
--
General Obligation Bonds $ 790,000.00 $ 390,000.00 $ 400,000.00
Building Revenue Bonds-Series 1971 250,000.00 180,000.00 70,000.00
Building Revenue Bonds-Series 1972 500,000.00 220,000.00 280,000.00
Build ing Revenue Bonds-Series 1973 350,000.00 150,000.00 200,000.00
Building Revenue Bonds-Series 1973 -2 350,000.00 125,000.00 225,000.00
$2,240,000.00 '$1,065,000.00 $1.175.000.00
10
SALINA AIRPORT AUTHORITY
GENERAL OBLIGATION BONDS
December 31, 1978
Date of Issue:
Amount of Issue:
Interest Rate:
Haturity Date:
Principal Paid:
Outstanding Balance:
February 1, 1967
$790,000.00
4.25, 3.375, 3.4%
February 1, 1988
$390,000.00
$400,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
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 9,928.17
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
$440,000.00 $ 76.022.09
of<
Paid December 30, 1978
11
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS - SERIES 1971
December 31, 1978
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
January 1, 1971
$250,000.00
5%
January 1, 1981
$180,000.00
$70,000.00
Schedule of Payments
Due in
Year
1979
1980
1981
Bond
Principal
$ 30,000.00>'<
35,000.00
35,000.00
Bond
Interest
$ 4,250.00
2,625.00
875.00
$100.000.00
$ 7.750.00
>'<
Paid December 30, 1978
12
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS - SERIES 1972
December 31, 1978
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
Schedule of Payments
Due in
YeJr
Bond
Princioal
$ 40,000.00
45,000.00
45,000.00
50,000.00
50,000.00
50,000.00
1979
1980
1981
1982
1983
1984
$280.000.00
July 1, 1972
$500,000.00
4.5, 5%
July 1, 1984
$220,000.00
$280,000.00
Bond
Interest
$ 13 ,575.00
11,775.00
9,750.00
7,500.00
5,000.00
2,500.00
$ 50,100.00
13
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS - SERIES 1973
December 31, 1978
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
January 1, 1973
$350,000.00
5.25%
February 1, 1985
$150,000.00
$200,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
1979 $ 25,000.007( $ 11,156.25
1980 25,000.00 9,843.75
1981 25,000.00 8,531.25
1982 40,000.00 6,825.00
1983 40,000.00 4,725.00
1984 35,000.00 2,756.25
1985 35,000.00 918.75
$225,000.00 $ 44,756.25
*
Paid December 30, 1978
14
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS - SERIES 1973-2
December 31, 1978
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
Schedule of Payments
Due in
Year
1979
1980
1981
1982
1983
1984
1985
Bond
Principal
$ 25,000.00
25,000.00
25,000.00
40,000.00
40,000.00
35,000.00
35,000.00
$225.000.00
December 31, 1973
$350,000.00
6, 6.5%
December 1, 1985
$125,000.00
$225,000.00
Bond
Interest
$ 14,500.00
13 ,000.00
11,375.00
9,750.00
7,150.00
4,550.00
2,275.00
$ 62.600.00
15
SALINA AIRPORT AUTHORITY
RECONCILEMENT OF FISCAL AGENCY ACCOUNT
December 31, 1978
BALANCE WITH FISCAL AGENCY-January 1, 1978
RENITTA:\CES
Ha tured bon"ls
Interest coupons
Commission and postage
$40,000.00
15,581.29
36.9E:
TOTAL REHITTANCES A~u BEGINNING BALANCE
RETURXS
Cancelled bonds
Interest coupons paid
Commission and postage retained
$40,000.00
15,581.29
36.9E:
BALANCE WITH FISCAL AGENCY-December 31, 1978
ANALYSIS OF BALANCE WITH FISCAL AGENCY
December 31, 1978
General Obligation Bond
General Obligation Bond
Bond No.
112
113
Coupon No.
19
19
Date Due
2-1-77
2-1-77
$
168 . 76
55,618.27
$55,787.03
55,618.27
$
168.76
Amount
$ 84.38
84.38
$ 168.76
16
SALINA AIRPORT AUTHORITY
SCHEDULE OF INVESTMENTS
December 31, 1978
Balance Purchases Redemptions Balance
1-1-78 Year 1978 Year 1978 12-31-78
AIRPORT REVOLVING ACCOUNT
Certificates of deposit $250,000.00 $ 570,000.00 $ 720,000.00 $100,000.00
BUILDING REVENUE ACCOUNT
Certificates of deposit
283,000.00 1,216,000.00 1,166,000.00 333,000.00
$533,000.00 $1,786,000.00 $1,886,000.00 $433,000.00,
TOTAL-
GENERAL OPERATING FUND
17
SALINA AIRPORT AUTHORITY
INSURANCE IN FORCE
December 31, 1978
í.Jorkmen's Compensation and
Employer's Liability
Type of Coverage
Comprehensive General
Liability
Owners', .Land~ords', and
Tenants'Liability Bodily injury and
property damage
Rental Buildings-
Industrial
Rental Buildings-
IY.ve 11 ings
Airport Terminal and
Rental Buildings
Vehicles
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
Property damage
Fire, lightning or
transportation, theft,
combined additional
coverage
Medical payments
Uninsured motorists
Amount of
Coverage
Co-Insurance
Percentage
$
100,000.00
5,000,000.00
1,000,000.00
558,399.00
80%
62,500.00
2,207,000.00
90'í~
100/300,000.00
50,000.00
122,200.00
2,000.00
15/30,000.00
1b