Audit Report - 1980
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C;èlll'lemen;
Fcc Salina Airport Authority submits an accounting of its operat'ons for the
calendar year 1980, as reported by A. H. Leckband and Co., its ind~pendent
Certified Public Accountants.
1980 was a very good year for the Salina Airp~rt Industrial Center and the
Salina Municipal Airport. The Salina Airport 1 ndus trial Center had :LI1creased
employment and increased construction. Due to the economy, boardings by
Frontier Airlines were down 22.7%. HQwever, we now have the best overall
flight schedule we have ever had. We have three trips a day to and from
Kansas City, two trips a day to and from Denver, and one trip a day to and
from Wichita.
The Terminal Building, new and remodeled project, was completed and accepted
with a dedication Chamber of Commerce breakfast June 24, 1980. The new and
remodeled Terminal Building has worked out very '-'!eJ 1. The Jet Set Coffee
Shop in the Terminal Building has beep a popular place to eat and fills a
need for our local and airline customers.
A new Crash/Fire/Rescue vehicle (CFR truck) was purchased under an ADAP grant
at a cost of $200,559.00. The Federal Aviation Administration paid 80%
of the cost. The new CFR truck is an Oshkosh ALL WHEEL DRIVE truck, Model
T-6(4x4), one of the latest models. It is completely checked out and is now
in service at Salina Fire Station No.3.
The Salina Airport Authority purchased three Port-A-Port hangars, manufactured
on the Airport Industrial Center, and had them installed on the pavement on
the west side of the old B-47. It is planned to purchase three more in 1981,
making a total of six new Port-A-Port hangars. This gives a total of 45 hangars
owned by Salina Airport Authority to lease for general aviation aircraft.
The Salina Airport Authority, airfield facilities, and buildings have been
under a planned and executed maintenance program during the past year. Buildings
and structures have been painted and the old warehouses have been rehabilitated,
the docks removed and are now reasonably good. All buildings have b,een
leased except Office Building #219 and as of this date it appears Fort Riley
will be leasing this building for Headquarters for troop dispersal operation
called Reforger.
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SALINA AIRPORT AUTHORITY
Salina, Kansas
AUDIT REPORT
Year 1980
A. H. LECKBAND & CO.
Certified Public Accountants
Accounting Bldg., 719 East Crawford
Salina, Kansas 67401
SALINA AIRPORT AUTHORITY
TABLE OF CONTENTS
Pa~e
Auditor's Report
1
Financial Statements
Balance Sheet
Statement of Revenues, Expenses and Changes in Equity
Statement of Changes in Financial Position
2
3
4
Summary of Capital Expenditures
5
Notes to Financial Statements
6-7
SUPPLEMENTAL INFORMATION
Financial Statements-Airport Revolving Account
Balance Sheet
Statement of Revenues, Expenses and Changes
Statement of Changes in Financial Position
in Equity
8
9-10
11
Capital Expenditures-Airport Revolving Account
12
Financial Statements-Building Revenue Account
Balance Sheet
Statement of Revenues, Expenses and Changes
Statement of Changes in Financial Position
in Equity
13
14
15
Capital Expenditures-Building Revenue Account
16
Bonds of Indebtedness (Summary)
General Obligation Bonds
Building Revenue Bonds-Series
Building Revenue Bonds-Series
Building Revenue Bonds-Series
Building Revenue Bonds-Series
1971
1972
1973
1973-2
17
18
19
20
21
22
Reconcilement of Fiscal Agency Account
23
Schedule of Investments
24
Insurance in Force
25
A. H. LECKBAND Be Co.
Certified Public Acrowntants
A, H, LECKBAND. C.P,A.
EUGENE 0, HARRISON, C,P.A
ACCOUNTING BUILDING
719 EAST CRAWFORD
SALINA, KANSAS 67401
February 3, 1981
M_-- A..~ I~
011' C&ItTIP1KD _IC Ac:cOUMT..".
AREA COOK .., 817-7244
The Board of Directors
Salina Airport Authority
Salina, Kansas
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, 1980. Our examination was made in accclrdance with
generally accepted auditing standards and the Minimum Standard Audit
Program approved by the State Municipal Accounting Board, and accordingly
included such tests of the accounting records and such other auditing
procedures as we considered necessary in the circumstances. We have
previously examined and reported on the financial statements for the
preceding year, and have given an unqualified opinion on them.
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, 1980, and the results of its operations
and changes in its financial position for the year then ended, in conformity
with generally accepted accounting principles applied on a basis consistent
with that of the preceding year.
The accompanying supplemental information listed in the table of
contents is not necessary for a fair presentation of the financial
statements, but is presented as additional analytical data.. This infor-
mation has been subjected to the tests and other auditing procedures
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,JI.~~/d)
A. H. LECKBAND & CO.
.)
¿: -u./ / TV
Eu ene O. Harrison, C.P.A.
in charge of and actively
engaged in this audit.
1
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
BALANCE SHEET
1980
DE!cember 31
1979
ASSETS
CURRENT ASSETS
Cash in banks
Certificates of deposit
Note receivable
Prepaid bond interest
$ 195,574.45 $ 103,050.88
400,000.00 575,000.00
1,968.00
2,004.72
$ 597, 542 .4~~ $ 680,055.60
TOTAL CURRENT ASSETS
RESTRICTED ASSETS
Certificates of deposit
Provision for Bond Reserve
Provision for Replacement and
Depreciation
Reserve Fund for Non-Recurring
and Capital Improvements
Maintenance
$ 21,000.00
12,000.00
250.000 . OC~
$ 283 ,000 . OC~
TOTAL RESTRICTED ASSETS
FIXED ASSETS
Equipment
Buildings
Other Improvements
Land
$ 454,493.62
3,312,165.99
992,956.20
478,000 .OC~
$5,237,615.81
1,040,206. 89~
Less-Accumulated depreciation
TOTAL FIXED ASSETS
$4.197 .408 .92~
OTHER ASSETS
Long-term note receivable
$
9,720.7ì~
TOTAL ASSETS
$5,087,672.1~~
LIABILITIES
CURRENT LIABILITIES
Payroll deductions
Bonds payable
Accrued bond interest
AND EQUITY
$
r.,636.7a,
175,000.00
15.612.10.
TOTAL CURRENT LIABILITIES
$
195,248.88
LONG-TERM LIABILITIES
Bonds payable
765,000.00
EQUITY
4.127.423.26,
TOTAL LIABILITIES AND EQUITY
$5.087.672.1~;
$
21,000.00
12,000.00
$
33.000.00
$ 252,883.54
2,941,478.34
992,956.20
478.000.00
$4,665,318.08
852.632.30
$3.812.685.78
$
$4,525.741.38
$
5,274.35
70,000.00
1.083.33
76,357.68
$
940,000.00
3.509.383.70
$4.525.741.38
The notes to financial statements are an integral part of this statement.
2
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN EQUITY
January 1 to December 31
1980 1979
REVENUES
Operating revenues
Proceeds of Airport Development Aid
Program grants
Property sales
Interest on property sales
Interest on investments
$
875,752.41
227,036.14
49,453.00
198.71
63.037.35
TOTAL REVENUES
$1.215.477 .61
EXPENSES
Office and administration
Maintenance
Bond interest and expenses
Depreciation
$ 166,478.04
195,872.00
47,513 .42
187.574.59
$ 597.438.05
$ 618,039.56
3,509,383.70
TOTAL EXPENSES
EXCESS OF REVENUES OVER EXPENSES
EQUITY-January 1
OTHER CHANGES
Recording of prior years depreciation
EQUITY-December 31
$4.127.423.26
$
868,146.70
544,015.66
128,046.05
951.11
59.032.72
$1.600,192.24
$ 158,457.61
217,706.96
55,151.15
151,537.21
$ 582.852.93
$1,017 ,339.31
3,193,139.48
(701,095.09)
~3.509.383.70
The notes to financial statements are an integral part of this statement.
3
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
STATEMENT OF CHANGES IN FINANCIAL POSITION
January 1 to December 31
1980 1979
$ 92,523.57 $ 28,526.56
(175,000.00) 175,000.00
(61,296.84)
1,968.00
( 2,004.72) ( 221.87)
637.57 ( 298.25)
(105,000.00) ( 5,000.00)
( 14,528.77) 125.00
6,810.76
$ (201,404.35) $ 143.645.36
FUNDS WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Decrease in working capital
$
618,039.56
187,574.59
201,404.35
$1.007,018.50
TOTAL FUNDS PROVIDED
FUNDS WERE APPLIED TO:
Capital expenditures
Increase in restricted assets
Increase in long-term receivable
Reduction of long-term liabilities
Increase in working capital
$
572,297.73
250,000.00
9 , 720 .77
175,000.00
TOTAL FUNDS APPLIED
$1.007.018.50
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
Certificates of deposit
Accounts receivable
Note receivable
Prepaid bond interest
Current Liabilities-Decrease
Payroll deductions
Bonds payable
Accrued bond interest
Balance due on snow plow
(Increase)
TOTAL INCREASE (DECREASE) IN WORKING CAPITAL
$1,017,339.31
151,537.21
$1. 168.876.52
$
855,231. 16
170,000.00
143,645.36
$1. 168 ,876 .52
The notes to financial statements are an integral part of this statement.
4
SALINA AIRPORT AUTHORITY
GENERAL OPERATING FUND
CAPITAL EXPENDITURES
Janaury 1 to December 31
1980 1979
Buildings
$201,610.08
370,687.65
$
5,367.93
Equipment
303,437.39
TOTAL CAPITAL EXPENDITURES
$572.297.73
546,425.84
$855.231.16
Other improvements
The notes to financial statements are an integral part of this statement.
5
SALINA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS
December 31, 1980
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:
Joe C. Cloud, Chairman
Nathan B. Butcher, Vice-Chairman
Ben Vidricksen, Secretary-Treasurer
Dean Tinkler
W. P. Horton
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.
Summary of accounting policies
A. The General Operating Fund is composed of two accounts-the Airport
Revolving Account and the Building Rev~nue Account. The Airport
Revolving Account is used for general airport operati'Dns and the
Buïlding Revenue Account is for segregation of monies and establish-
ment of reserves as provided by the bond ordinances. The provisions
of the bond ordinances have been complied with.
B.
On May 13, 1980, the board of directors adopted a resl()lution
authorizing the establishment of a "Reserve Fund for Non-Recurring
Maintenance and Capital Expenditures" to be used only for those
purposes after board approval. $250,000.00 was transferred to this
fund in 1980.
C.
The accrual basis of accounting is used.
D.
Depository security is adequate for all accounts.
E.
Investments are stated at cost.
F.
Fixed assets are stated at
straight-line method based
Equipment
Buildings
Other improvements
cost. Depreciation is com¡¡>uted using the
on estimated useful lives .:is follows:
5-10 years
15-30 years
20 years
6
SALINA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 1980
4.
Composition of cash balances
First Bank and Trust Co., Salina, Kansas
Planters Bank and Trust Co., Salina, Kansas
First National Bank and Trust Co., Salina, Kansas
National Bank of America, Salina, Kansas
5.
Composition of certificates of deposit
First National Bank and Trust Co., Salina, Kansas
Planters Bank and Trust Co., Salina, Kansas
$ 17,835.89
22,138.07
118,469.79
37, 130 .70
$195.574.45
$300,000,00
100,000,00
$400.000,00
7
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
BALANCE SHEET
1980
Decemlber 31
1979
ASSETS
CURRENT ASSETS
Cash in banks
TOTAL CURRENT ASSETS
$ 39,973.96 § 81,540.84
$ 39,973.96 $ 81.540.84
$ 454,493.62 $ 252,883.54
799,840.92 579,768.26
992,956.20 992,956.20
$2,247,290.74 $1,825,608.00
363,165.20 256,824.53
$1.884.125.54 $1,568,783.47
$1.924.099.50 $1. 650.324.31
FIXED ASSETS
Equipment
Buildings
Other improvements
Land
Less-Accumulated depreciation
TOTAL FIXED ASSETS
TOTAL ASSETS
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Payroll deductions
Due to Building Revenue Account
TOTAL CURRENT LIABILITIES
$ 4,636.78 $ 5,274.35
140,000.00 83,000.00
$ 144,636.78 $ 88,274.35
$1,779,462.72 1.562,049.96
$1.924,099.50 $1,650,324.31
EQUITY
TOTAL LIABILITIES AND EQUITY
The notes to financial statements are an integral part of this statement.
.
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN EQUITY
January 1 to December 31
1980 1979
REVENUES
OPERATING REVENUES
Building rents
Agricultural land rents
Other land rents
Other rents
FixL ¡ base operator
Landing fees
Commissions
Reimbursement-Airport security
Miscellaneous income
TOTAL OPERATING REVENUES
$304,474.93 $ 273,305.62
19,600.80 18,461.56
18,812.45 17,368.34
1,640.00 780.00
52,940.54 53,506.74
34,141.36 110,812.31
6,724.89 832.93
14,400.00 14,400.00
3,410.56 516.12
$456.145.53 $ 489,983.62
OTHER REVENUES
Proceeds from Airport Development Aid
Program grants
Interest on investments
TOTAL OTHER REVENUES
$227,036.14 $ 544,015.66
100.00 7,163.02
$227 ,136 .14 $ 551,178.68
$683~281.67 $1,041,162.30
TOTAL REVENUES
EXPENSES
OPERATING EXPENSES
Office and Administration
Office salaries
Office supplies
Postage
Car expense
Travel expense
Agricultural land expense
Legal and auditing
Insurance
Payroll taxes
Employees retirement
Telephone
Airport security
Other office and administration
SUB-TOTAL
$ 69,990.00 $ 65,412.00
1,139.21 1,350.98
394.73 348.90
4,742.48 2,673.94
1,934.21 1,790.44
1,888.46 1,234.00
7,280.05 7,628.00
39,889.39 38,462.21
12,104.79 10,109.11
4,148.15 3,803.35
2,465.40 2,319.11
14,400.00 14,400.00
4.279.37 4,714.68
$164,656.24 $ 154,246.72
(continued)
9
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN EQUITY
(continued)
January 1 to December 31
1980 1979
Maintenance
Building maintenance
Runways, taxiways and ramps
Equipment, gas, oil and repairs
Utilities
Grounds maintenance
Janitor supplies
Maintenance salaries
Snow removal
Airfield lighting equipment
Railroad track repair
Other maintenance expense
SUB-TOTAL
$ 8,886.80 $ 31,372.16
7,489.24 24,111.20
12,541. 76 9,874.32
27,868.24 21,299.76
493.21 434.90
2,131. 66 1,616.43
108,541. 00 105,809.59
45.00 667.60
534.56 770 .88
10,000.00
16,340.53 21.750.12
$ 194.872.00 $ 217.706.96
$ 106,340.67 $ 72 . 813 . 54
$ 465,868.91 $ 444,767.22
$ 217,412.76 $ 596,395.08
1,562,049.96 :2,002,353.52
Depreciation
TOTAL EXPENSES
EXCESS OF REVENUES OVER EXPENSES
EQUITY-January 1
OTHER CHANGES
Transfer of fixed assets to Building
Revenue Account
Recording of prior years depreciation
EQUITY-December 31
$1.779.462.72
(852,687.65)
(184,010.99)
11. 562,049.96
The notes to financial statements are an integral part of this statement.
10
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEMENT OF CHANGES IN FINANCIAL POSITION
January 1 to December 31
1980 1979
FUNDS WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Decrease in working capital
TOTAL FUNDS PROVIDED
$217,412.76 $ 596,395.08
106,340.67 72,813 .54
97,929.31 186,022.54
$421.682.74 $ 855.231.16
$421,682.74 $ 855,231.16
$421. 682.74 $ 855.231. 16
FUNDS WERE APPLIED TO:
Capital expenditures
TOTAL FUNDS APPLIED
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
Certificates of deposit
Accounts receivable
$(41,566.88)
$ 51,761.79
(100,000.00)
( 61,296.84)
Current Liabilities-Decrease (Increase)
Payroll deductions
Due to Building Revenue Account
Balance due on snow plow
637.57
(57,000.00)
( 298.25)
( 83,000.00)
6,810.76
$086.022.54)
TOTAL INCREASE (DECREASE) IN WORKING CAPITAL
$(97,929.31)
The notes to financial statements are an integral part of this statement.
11
SALINA AIRPORT AUTHORITY
CAPITAL EXPENDITURES
AIRPORT REVOLVING ACCOUNT
EQUIPMENT
Radio-snow plow
Engineering costs-snow plow
Oshkosh crash/fire/rescue truck
Engineering costs-crash/fire/rescue
1980 Datsun pickup
truck
TOTAL EQUIPMENT
BUILDINGS
Bldg. #310-air conditioning
Bldg. #120-drain pipe
Bldg. #120-show cases
Bldg. #957-boi1er
Terminal expansion
Terminal coffee shop
system
TOTAL BUILDINGS
OTHER IMPROVEMENTS
Runway improvements
TOTAL OTHER IMPROVEMENTS
TOTAL CAPITAL EXPENDITURES
January 1 to December 31
1980 1979
$ $ 610.00
1,013.06
194,645.00
2,178.08 3,744.87
4,787.00
$201,610.08 $ 5.367.93
$ $ 14,025.25
2,524.00
1,550.00
21,012.00 15,759.00
168,706.04 273,653.14
26,280.62
$220.072.66 $303,437.39
$ $546,425.84
$ $546,425.84
$421.682.74 $855.231.16
The notes to financial statements are an integral part of this statement.
12
SALINA AIRPORT AUTHORITY
BALANCE SHEET
BUILDING REVENUE ACCOUNT
ASSETS
CURRENT ASSETS
Cash in banks
Certificates of deposit
Note receivable
Prepaid bond interest
Due from Airport Revolving
Account
TOTAL CURRENT ASSETS
RESTRICTED ASSETS
Certificates of deposit
Provision for Bond Reserve
Provision for Replacement and
Depreciation
Reserve Fund for Non-Recurring
Maintenance and Capital Improvement
TOTAL RESTRICTED ASSETS
FIXED ASSETS
Buildings
Land
Less-accumulated depreciation
TOTAL FIXED ASSETS
OTHER ASSETS
Long-term note receivable
TOTAL ASSETS
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Bonds payable
Accrued bond interest
TOTAL CURRENT LIABILITIES
LONG-TERM LIABILITIES
Bonds payable
EQUITY
TOTAL LIABILITIES AND EQUITY
Dee.ember 31
1980 --- 1979
-
$ 155,600.49 $ 21,510.04
400,000.00 575,000.00
1,968.00
2,004.72
140,000.00 83,000.00
$ 697,568.49 $ 681,514.76
$ 21,000.00
12,000.00
250,000.00
$ 283,000.00
$
21,000.00
12,000.00
$
33,000.00
$2,512,325.07
478,000.00
$2,990,325.07
677 ,041. 69
$2,313,283.38
$2,361,710.08
478,000.00
$2,839,710.08
595,807.77
$2,243,902.31
$
9 ,720.77
$
$3.303.572.64
$2.958.417.07
$ 175,000.00 $ 70,000.00
15,612.10 1,083.33
$ 190,612.10 $ 71,083.33
765,000.00 940,000.00
2,347,960.54 1,947,333.74
$3.303,572.64 $2,958,417.07
The notes to financial statements are an integral part of this statement.
13
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
STATEMENT OF REVENUES. EXPENSES AND
CHANGES IN EQUITY
January 1 to December 31
1980 1979
$ 322,094.53 $ 301,042.24
36,310.64 22,570.17
280.00 618.30
19,580.00 19,274.00
41,341.71 34.658.37
$ 419,606.88 $ 378.163.08
$ 49,453.00 $ 128,046.05
198.71 951.11
62.937.35 51,869.70
$ 112.589.06 $ 180.866.86
$ 532,195.94 $ 559.029.94
REVENUES
OPERATING REVENUES
Building rents
Agricultural land rents
Other land rents
Hangar rents
Other rents
TOTAL OPERATING REVENUES
OTHER REVENUES
Sale of property
Interest on sale of property
Interest on investments
TOTAL OTHER REVENUES
TOTAL REVENUES
EXPENSES
OPERATING EXPENSES
Agricultural land expenses
Railroad track repair
Bond interest expense
Expense relating to bond issues
Depreciation
$
1 , 821. 80
1,000.00
46,992.73
520.69
81.233.92
131.569.14
TOTAL EXPENSES
$
$
400,626.80
EXCESS OF REVENUES OVER EXPENSES
EQUITY-January 1
OTHER CHANGES
Transfer of fixed assets
Revolving Account
Recording of prior years
1,947,333.74
from Airport
depreciation
EQUITY-December 31
$2.347,960.54
$ 4,210.89
54,828.12
323.03
78.723.67
$ 138,085.71
$ 420,944.23
1,190,785.96
852,687.65
(517.084.10)
$1.947,333.74
The notes to financial statements are an integral part of this statement.
14
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
STATEMENT OF CHANGES IN FINANCIAL POSITION
FUNDS WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Decrease in working capital
TOTAL FUNDS PROVIDED
FUNDS WERE APPLIED TO:
Capital expenditures
Increase in restricted assets
Increase in long-term receivable
Reduction in long-term Ii ties
Increase in working capital
TOTAL FUNDS APPLIED
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
Certificates of deposit
Note receivable
Prepaid bond interest
Due from Airport Revolving Account
Current Liabilities-Decrease (Increase)
Bonds payable
Accrued bond interest
TOTAL INCREASE (DECREASE) IN WORKING CAPITAL
January 1 to December 31
1980 1979
$ 400,626.80
81,233.92
103,475.04
$ 585,335.76
$ 150,614.99
250,000.00
9, 720 . 77
175,000.00
$ 585.335.76
$ 134,090.45
(175,000.00)
1,968.00
( 2,004.72)
57,000.00
(105,000.00)
( 14,528.77)
$(103,475.04)
$ 420,944.23
78,723.67
$ 499,667.90
$
170,000.00
329,667.90
$ 499.667.90
$ (23,235.23)
275,000.00
( 221.87)
83,000.00
( 5,000.00)
125.00
$ 329,667.90
The notes to financial statements are an integral part of this statement.
15
BUILDINGS
3 Port-A-Port hangars
Bldg. #1021-addition
Bldg. #1021-paint booth
Bldg. #620-overhead door
TOTAL CAPITAL EXPENDITURES
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
CAPITAL EXPENDITURES
January 1 to December 31
1980 1979
$ 20,550.00
77,385.98
49,144.90
3.534.11
$150.614.99
$
$
The notes to financial statements are an integral part of this statement.
16
SALINA AIRPORT AUTHORITY
BONDS OF INDEBTEDNESS
December 31, 1980
General Obligation Bonds
Building Revenue Bonds-Series 1971
Building Revenue Bonds-Series 1972
Build ing Revenue Bonds-Series 1973
Building Revenue Bonds-Series 1973-2
$
Original
Issue
790,000.00
$
Principal
Paid
430,000.00
Outstanding
Balance
$360,000.00
35,000.00
195,000.00
175,000.00
175,000.00
$940.000.00
The notes to financial statements are an integral part of this statement.
250,000.00
500,000.00
350,000.00
350.000.00
$2,240.000.00
215,000.00
305,000.00
175,000.00
175.000.00
$1,300,000.00
17
SALINA AIRPORT AUTHORITY
GENERAL OBLIGATION BONDS
December 31, 1980
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
$430,000.00
$360,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
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
$360,000.00 $48.909.51
18
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1971
December 31, 1980
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
January 1, 1971
$250,000.00
5%
January 1, 1981
$215,000.00
$35,000.00
Schedule of Payments
Due in
Year
1981
Bond
Principal
$35,000.00
Bond
Interest
$875.00
19
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1972
December 31, 1980
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
July 1, 1972
$500,000.00
4 .5, 5%
July 1, 1984
$305,000.00
$195,000.00
Schedule of Payments
Due in
Year
1981
1982
1983
1984
Bond
Pr inc ipa 1
$ 45,000.00
50,000.00
50,000.00
50,000.00
$195,000.00
Bond
Interest
$ 9,750.00
7,500.00
5,000.00
2,500.00
$24,750.00
20
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1973
December 31, 1980
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
Schedule of Payments
Due in
Year
1981
1982
1983
1984
1985
Bond
Principal
$ 25,000.00
40,000.00
40,000.00
35,000.00
35,000.00
$175.000.00
January 1, 1973
$350,000.00
5.25%
February 1, 1985
$175,000.00
$175,000.00
Bond
Interest
$ 8,531.25
6,825.00
4,725.00
2,756.25
918.75
$23.756.25
21
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1973-2
December 31, 1980
Date of Issue:
Amount of Issue:
Interest Rate:
Maturity Date:
Principal Paid:
Outstanding Balance:
Schedule of Payments
Due in
Year
1981
1982
1983
1984
1985
Bond
Principal
$ 25,000.00
40,000.00
40,000.00
35,000.00
35,000.00
$175,000.00
December 31, 1973
$350,000.00
6, 6.5%
December 1, 1985
$175,000.00
$175,000.00
Bond
Interest
$11,375.00
9,750.00
7,150.00
4,550.00
2,275.00
$35,100.00
22
SALINA AIRPORT AUTHORITY
RECONCILEMENT OF FISCAL AGENCY ACCOUNT
December 31, 1980
BALANCE WITH FISCAL AGENCY-January 1, 1980
$
-0-
REMITTANCES
Matured bonds
Interest coupons
$40,000.00
12 , 881. 29
52,881. 29
$52,881.29
TOTAL REMITTANCES AND BEGINNING BALANCE
RETURNS
Cancelled bonds
Interest coupons
$40,000.00
12,712.55
52,712.55
BALANCE WITH FISCAL AGENCY-December 31, 1980
$
168.74
ANALYSIS OF BALANCE WITH FISCAL AGENCY
December 31, 1980
Bond No.
112
113
Coupon No.
26
26
Maturity Date
August 1, 1980
August 1, 1980
$
Amount
84.37
84.37
$
168.74
23
AIRPORT REVOLVING ACCOUNT
Certificates of deposit $
BUILDING REVENUE ACCOUNT
Certificates of deposit
TOTAL-
GENERAL OPERATING FUND
SALINA AIRPORT AUTHORITY
SCHEDULE OF INVESTMENTS
December 31, 1980
Balance
1-1-80
Purchases
Year 1980
$
608,000.00
2,402,000.00
$608.000.00
$2,402,000,00
Redl~mpt ions
Year 1980
$
2,327 ,000,00
$2,327.000.00
Balance
12-31-80
$
683,000.00
$ 6 8 3 .0 OQ---.QQ.
24
Workmen's Compensation and
Employer's Liability
Comprehensive General
Liabil ity
~vners', Landlords', and
Tenants' Liability
Rental Buildings-
Industrial
Rental Buildings-
Dwe 11 ings
Airport Terminal and
Rental Buildings
Vehicles
Public Employees
Blanket Bond
SALINA AIRPORT AUTHORITY
INSURANCE IN FORCE
December 31, 1980
Type of Coverage
Bodily injury and
property damage
Bodily injury and
property damage
Fire and lightning,
extended coverage,
vandalism and malicious
mischief-rental value
insurance
Fire and lightning,
extended coverage
Amount of
Coverage -
$
100,000.00
500,000.00
500,000.00
558,399.00
75,900.00
Fire and lightning,
extended coverage,
vandalism and malicious
mischief 2,207,000.00
Liabil ity
Physical damage
Medical payments
Uninsured motorists
Honesty blanket
position bond coverage
500,000.00
328,787.00
2,000.00
15/30,000 .00
100,000.00
Co - 1015 uc.3 nc e
PercenL'~:>;e
80/0
90/0
25