Audit Report - 1981
IT
BOARD 0'<' DIRECTORS
" [', ßL'1CHFR C"."",^"
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""
SA.I....IN.A.. .AIRFORT ~A, 'C.T'-rJ:-:ro:l.~:¡"rY'
SALJIN,A M1:JNIC'::;l PI~ '- J\. F\PC1"'{'r
JOhN ¡ Sf A"'LA/'.
(;,.,,",..1 MðO"'",-
DO:-<AUJ (. KNEU8U('.l
Op.""" ['"eC:',)I
T .RMINAL BUiLO1NG NO 120
SAUNA. }(ANSA5 6740í
1'1<1 r C' h :J, 1982
Gentlemen:
The Salina Airport Authority submits an accounting ot its operations
for the calendar year 1981, as reported h""'\,, H. Leckband & Co., its
independent Certified Public Accountants.
In general, it was a good year for the ,\uthori tj',
because of the Controller strike, see our control
last fall. We lose a degree of safety plus some
income of commercial as well as military aircraft
loss. FAA has informed us that ~oveIIlber 19B2 the
for reopening; we have our doubts.
ho!Ñever, we did,
tower closed this
important training
because of the tower
tower will be considered
During this past year we were able to satisfy Blue Beacon International
and Nelson Construction Company in their needs for hangar for their
corporate aircraft. The hangars cost $85,000 each to construct. We
also assisted Schwan's Sales Enterprises Inc., i~ improving one of their
buildings at a cost of $50,000. The Airport Authority saw the need for
an additional six Port-A-Port type hangars La be erected on the airport
for the various individuals requesting hangars for their privately
owned aircraft. The total construction cost was $60,000 for these
Other projects include relocating a gas line, cost $13,260; heater
AS I hangar, cost $4,769; replacement of boiler in a Beech Aircraft
ing, cost $21,012. Improved coffee shop in terminal, cost $2.364;
added on a room to our maintenance shop at a cost of $9,399; repairs to
fire station. cost $16,317.61. We also purchased fuel and equipment
for fire station at a cost of $8,600. We have purchased a reconditioned
£arm tractor for airport mowing 3t a cost of 511,000. Receipts from the
Airport Revolving Account and the Building Revenue Account made these
projects possible.
hangars.
in
build-
A planned and executed maintenance program for all Salina Airport Authority
buildings, property and airfield facilities has been carried on during
the year. We believe all properties are in good condition.
;,L:;.¡ Ai.qllJrt Authority apprt':c'idte,.; ),)i,e,! "t' \'lj l t: :LlS rec,:¡ vc ,1
lJ segmeu s of the Salina COTlli1l!md L111 :1(', the t'.,L" \'~'lr)lnd :,1
t'f; j\>; t(\\,'ard continued progress il) it" in.; .)' l'i"')?C'n<;ibi.: cy.
:; íncere ly ,
SALI~A AIRPORT AUTHORITY
, f
.- , A ¡
.--- 1'/ / II. (I,' j¡ 'r-:- ¡ I
/ I ¿~ ~<4'11 / / rd ¿!Ut/
Nathan Butcher
Chairman
SALINA AIR::?C;'T A'J"':'EORITY
Salii1il) .K....,1sas
ALLIT '-::'~rC.;'T
Yea:: 1981
~~
H. LECKBAXD & CO,
Certified Public Accountai1ts
Accounting Bldg., 719 East Crawford
Salina, Kansas 67401
S/,LI:\A AIRI}ORT AUTEORITY
'L\BLE OF CO\T.~:,TS
~:U~""
---
AD'~ L \::cr : E: '::(",.l,,;or:
I'ir;,. "'lC l:cc:c. S::E,::e;',-,ec;::8
L. ~::;;,ce She:et
2
S:ate~ent of ~even '~s, Expenses and Changes In Equity
State~ent of Chang~s in Financial Position
-,
.:,
I
..,.
of Cn?ital Zx?~ndit~res
.J
Notes to ¡inancial Stateme~ts
6 -7
ST?PL
c;,,'CAL ;- ,FC::::;'L\"::'ION
Fin~,ciat Statemen:s-Airport Revolving Account
E,-,.La~ce Si:cet
c
Sta:e~2ne of Revenues, Expenses and Changes in Equity
Statement of Changes in Financial Position
':J - ~J
11
Cap~t~l Ex?endit~res-Airport Revolvi~g Account
12
Financial S_ate~ents-3uilding Revenue Account
,~aL.;1ce Sheet
~5
S:::a ce::è:lt of Revenu-2s, Expenses and Ch.::mges in Equíï::y
Stflter::enc of G.;é'.nges in Financia,l Position
1':',
::.5
Ca?~tal ¿x?~ndi~,.~~s-Building RcvenDc Account
- "
~O
Bonds G~ Ind~bccdness (S~~~ary)
Genera~ Obligac~on Eonds
. -¡
18
l3uild
Revenue Bonds-Series 1972
19
20
Building Reve~ue Bonds-Series 1973
Building ~evenue 30nds-Series 1973-2
'1;
- ~
~econcile~enL of ~iscal Agency Account
'¡ 'Ì
Sched~ e of Inv~stments
'ì~
-..)
Insurance in Force
2!.r
I~ .
-)
j .
'" r-, ...-.,', '!,K"""',',AN'D,
' -,. ,-( ,- , 'I
-,_......, '..- ¡
".,
c.:x
en.
A, ... L,=<PA"D, CP,
.E C) "APR'""]", ::,P .\
C'::RTiFl'::O DUBUC ACCOU~TA',JTS
719
EAST CRAWFORD
SAUNA,
KANSAS
57401
C...A~'_EC e v:;='O, C,PA
AC:CO'3""""" CEPA""'VE"'" c,,~ g27-7244
""E"~ERS AvERICA"< I"<S",'TUT( OF CERT"'ED PUBLIC ACCOU"<T A"<TS
DATA PR:JCESS',," ",""c",T'/E"'" q," g:'7'7245
?còr:.:ary 18,
1982
The Board of Directors
Salira Airport Authority
S2.1ir.a, Kansas
Ve have examined the financial statements listed in the table of contents
or the Salina Airport Authority, Salina, Kansas, for the year ended Deccmber
~-. 1981. Our examinatio~ was made in accordance with generally accepted
auditing standards and the Minimu~ Standard Audit Program approved by t~e
State Xunicipal Accounti~g Board, and accordingly ~ncluded such tests c- the
accounting records and such other auditing procedures as we co.,sidcrcd
necess,c,ry in the CirCL-:TIstances. \\T(' h.:1ve previous1,y exé!'~"_T",ed a"d re;:<".,.trcl
on the financial stateme~ts for the nreced
çuali ied opinion o~ them.
year, and have give, an u--
In our opi"io", the aforeDentioned financial s~ate~entQ pr~se~t r :~
the financial position of the General Cperati"g ?u~d of the S l~na
Airport Authority at ~ecernber 31, 1981, and the results of its o~erations
é'."r' changes in its financ iai. 90S it ion for the year t;1en ende;:, '~n 00,,-
[ormity with generally accepted accounting priciples applied cn a ~asis
consistent with that of the prece¿ing year.
:he acco~panyi"g supplemental informatio" listed in the table o~ co-tents
is not necessary for a fair presentation of the financia'.,. sté'.t:el"':ents, '-"'~
is presented as additional a"alytical data. This inforDaticn h2S b'n~
subjected to the tests a"d other auditi"g procedures applied in the
exa:.-<natio'l. of the financial st~ltements !"entiCTled ("'0'/0 (1,,(', j,"", ('\'_T c~" 'io"
,- -
:':airly stated i" all :~ater~;~l respects in re=,3.~:!_e', tot:' ,:'" !'in.é'nci::;-
,',té'.te:~e"'~s
taken as a whole.
/
A. H. L:::CKI'A\1) & CO.
;
, I
. . l.::..!...'~L'
~~e O. Harrison, C.P.A.
i~ charge of ¿nd actively
if'. th:~s Dudit.
SÞ.LINA AIRPC:ZT ,\UTHORITY
G,~T\ERXL CPT':¡ZAT'¡SG ?UND
BALASCE SHEET
/SSF'~'S
cr?~~..\~ ,'~:::::~--~;
'~~i~c" l.., ,).~:-:,(S
C~rti~:c~tes of dcposie
~o~cs ~ccciva~ic
Frcr, id I: .)"J intcrcs t
'Ù)T:\::" CC;ZR=~IT ASSETS
RES~lICT~J :\SS=TS
Ce~ci:icates of dc?oslt
P~ovCsion for 30nd Reserve
Pro' i,,-',c', to;:"
L10C:'.¡C~lt and
:~..",ir.:o i,a t io~
Reserve fund for No~-Recurring Maintenance
., :1(; C c.:):L ta 1 II'i",prOVemen ts
TOTAL RESTRICTED ASSETS
?I:,::~ /...~ ,)-.'3
~
3uild ':n;5
J=~er I~provements
L:::.::d
Less -Accú:::ulated depreciation
TOTP~ FIXED ASSETS
OTl{:::1 ASS~:i'S
Long-Term notes receivable
TOT,\L l,SS::::'S
';"\ -c,TT",,:S AND EQ'JITY
.. --,---'..
CCi'.R::Si' =.1f,'::, "",,1i:'U::S
Payroll deductions
Bonds p;:YClo1.e
Accrued bond in:erest
TOTAL GURRE~\T LIABILITIES
LCNG-T=:'Z~'Í L:U.B::""TIES
Bonds ?ayaole
EQ'JITY
TOT/',L L -::;..3 LITIES AKD EQUITY
1931
$
28,SJO 25
375,000.00
7,348.80
13.031.04
Dec"",oer :)t
L > .-, )
$
195,574.,,)
40C, X).OO
~,s.¿8.00
$
424,180.09
$
597 ':<2.L.5
$
21,000,00
$
"';' ,-~~ n"
~.L ,u.JJ .uu
12,000.00
550,000.00
$ '583,000.00
$ 460,493,62
3,599,976.23
992,956.20
08,000.00
$5,531,426.05
1,245.1.97.43
$4,286,228.62
$
94,158.02
12,COO.00
2SG.
~ .DD
$5:287,566.73
$
5,710.69
90,000.00
12,296.95
$
. OJ
$
108,007.64
232-
$ ¿,5:',.,L,93.ó2
3,3::'2,~ó5.99
992,~iSó.20
1.,73. ,DC)
$5,237,6:'5.81.
1,040,2iJ6.89
$:',..197,L,O8.92
~ 9...~20 .77
Q5('crc',-z-")'/
~~L,-~L=-~L:::t.
$
4,c3ó.78
175,C,JO.DO
590,000.00
!+.639.559.09
~c: 3';7 5r;.- -,~
y)_,-_L-,-.......ò!-Q,~
:5 612.10
$
195,2:',.8.88
765,()00,OO
/, "ì -, 'ì" '):
"'" , ",-I. -oj. - ,)
i~C;:E_...U2"J!.'
T~e notes co financial stacements are an integral part of this statemenc
2
SALINA AIRPorT AUTH'JRITY
GENEJ:\.AL CPE?t,,"'IYG rmm
STATENENT OF IŒVEr:ljES. =:~{nENSES AND
CEM:~~':~S IN E.;¿lTIY.
19.'31
Ja~uarv 1 to December 31
---'--
19SJ
REVENUES
Operating revenues
Proceeds of Airport Development Aid
Program grants
Property sales
Interest on property sales
Interest on investments
~
y
903,2Ú5.J9
52,632.39
132,666.63
7 , aLL3 . q)
-1.L? .'.. ~ 5 ') . z.~
TOTAL REVENUES
$'"209.1.1,9[,,.3';
EXPENSES
Office and administration
:.:aintenance
Bond interest and expenses
Depreciation
c
y
177,C'72.~'
221,593.92
39,035.:::12
2~ì? . «, ì . - ~
TOTA:'., EXPENSES
~
f::6.7 ,358. C)z.
EXCESS OF REVE~~ES OVER ~,PENSES
$
562, '35.33
EQUITY-January 1
!.j.~r','1.2"'.22
EQUITY-December 31
$
275,752.41
22ì,J36.14
~ /+.53.00
'93,71
r"
.).., . '3 '5
21..:..? -: S . é, ~.'" . {J:..
$
',,6,6.78.04
::. 5,372.00
/, 7 ,513 .t.2
'37.S7'~.59
?
c ,,': ',"".05
"
;:;
{ . ,'" "c "
,~ , c...
-'3 . ~2.~ ? ~'.5..2_:..==-
The notes to financial statements are an integral part of t~is statc~~nt.
3
SALViA AIRPOR:' AUTHORITY
GENERAL OPERATING ?T_-\-:;
STATEME\'T OF CJ/\YGES IN' "'D;/3CIAL POSI'TTCN
19?
J~nuarv ~ to Dcce~ber 3'
FU~~S WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Basis of assets disposed of
Decrease in working capital
$
S6~~, 135 . f~3
209,657.17
S,333.~:ì
or 1"1 "~
C) t) , .. l, ,. , 1;..::'
TOTAL FU~TS PROVIDED
~ 8S~,2~7 ~9
-FUNDS WERE APPLIED TO:
Capital expenditures
Increase in restricted assets
Increase in long-term receivable
Reduction of long-term liabilities
$
303,810.24
300,000.00
8l!,Ld7.25
1 7 5 , 1'/' J' (;
TOTAL FU~vS APPLIED
3_Q£~J._,-:?¿'LJ2
---------".,-
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in o2.nks
Certificates of deposit
Notes receivable
Prepaid bond interest
$( 166,77 .::0)
( 25,000.(,J'
5, J ;:0 . in
13,c:n.CiL
Current Liabilities-Decrease (Increase)
Payroll deductions
Bonds payable
Accrued bond interest
(
- ,073.91.)
S5,~VìO.'
::.~~ 5,'::'.
TOTAL INCREASE (DECREASE) IN WORKTNG CAPITAL
$
6-8/\-::9.56
1'7,57/.;..59
¿PJcOc.+.35
-,-'
$
572,2 -.n
2-5:' ,
,
,
c; -; 2:J .77
, ,
- -
-----,.---..--
,$
,,;') ;-
,. , ,,' - ...'
f . "; 'Ì " ~(
,
(
- ~- . I ,-
f:~, -; . '3 7
{ .', '; ,."\ :ì
" ':"",' ,
{',~ 7""\
--,----'---_"::'-..,-
~.' :::".
- ----, , --
- --.. -... .-_.,-
T~e nQtcs to financial statements arc an integral part of this stateme ~
I
,'.
SALIKA AIRPO:\:' ^:.;~"o'n:'Y
GE\'ET\ATo O?ER,<\T .-,~G ~e\u
CAPITAL ~(PE:<!'JI:'T"'..":S
Januarv 1. to December 31
1.981
1980
Equipment
$
6,000.00
$2J1,61O.08
Builèbgs
297 .p,O .2/,
370.687.65
TOTAL CAPITAL EXPEKDITURES
~)O},.L~LtO .24,
~jI2~n 7 , L~
The notcs to [inanci.:ll statements are o.n integral part of this st,:1tenent
:.J
SALINA AIRPOR~ A~THORITY
NOTES TO FINANCIAL STATE-:':E?-7TS
Decem~er 31, 1981
,
.l.
The Salina Airport Authority is governed by a board of five directors
appointed by the City Commission of the City of Salina, Kansas, The
f01lo,,'Í ng directors served c:ur ing the per io...;, of our examinél t ion:
Natha~ B. Butcher, Chairman
W, P. Horton, Vice-Chairm2n
Ben Vidricksen, Secretary-Treasurer
Joe C, Cloud
Dean Tinkler - to April 23, 1931
Ed Pogue - appointed April 23, 1931
2,
The following officials, aDf:>oÜ:ted by the Salina Airport Authority
Board of Directors, served during the period of our examination:
Joh~ F. Scanlan, Executive Vice-President
Paul Hall, General Hané:ger and Air'lJort Yanager
3.
Summary of accounting policies
A, The General Operating Ftc"d is co"",posed of t,.¡f') accounts-the Airport
Revolving Account and tho Building Revenue Account, The Airport
Revolvi~g Account is used for general airport operations a~d the
3uilding Revenue Account is for ~egregation of monies and esta~1!~~-
C':'ent of reserves as prov:/ (] by 1.::1e bond orè -::'~ances .
o£ the bo~d ordinances have been co~plied with,
T~:.c provis -- 'lS
B. On May 13, 1930, the bo~rd of ¿i~cctors adopted a resol~tion
authorizing the establis~ment of a '~eserve ~und for ~on-Recurr
I,Ta=_ntenance and C¿,,?ita", '3:-::Jend:'_tTx::es" to be 'Jsed (m"y for those
purposes Bfte:- bOD:-c:. é),Pp":',)Vi". ~"le Rr>sC'rv: Fund n ,'1 c] a ')alDl-Ce of
SSYJ,rJOO.OO at DecerÓc:- 'j-, 193'.
C. T~e accrual basis of accountinz is used.
D. Depository security is adeauate for all accou~ts.
E. Investments are statecl at cost.
F. Fixed assets are stated at cost. Depreciation is computed using the
straight-line method based on estimated useful lives as follows:
Equipment 5-10 years
3ui"ding
15-30 years
20 yeal~s
Ot'le:: Ü,'provements
6
SALINA AIRPORT AUIJORITY
NOTES TO FINANCIAL STATE~NTS (continue~
December 31, 1981
4.
Co~position of cash balances
First Bank and Trust Co., Salina, Kansas
Planters Bank anè Trust Co., Salina, Kansas
First National Bank and Trust Co., Salina, Kansas
National Bank of A:nerica, Salin,', Kansas
5.
Composition of certificates of deposit
First National Bank and Trust Co., Salina, Kansas
$ 1,751.95
18,414.65
3,56.8.77
----2-,..Q_f!+ ,88
$ ~~ SfJ(). 2~
~37~...;~~~l2
7
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUXT
BALA:,CE SHEET
1981
December 31
1980
ASSETS
CURREÌ\l ASSETS
Cash in banks
$
20,166.60
TOTAL CURRENT ASSETS
$
20,166.60
FIXED ASSETS
Equipment
Euildings
Other improvements
Land
$
460,493.62
848,933.53
992,956.20
Less-Accumulated depreciation
$2,302,383.35
!+84 . 940 .61
TOTAL FIXED ASSETS
$1,817 ,6J~2.7;"
TOTAL ASSETS
$'o..->-S37,609.3.!¡.
LIABILITIES A~~ EQUITY
CURRENT LIABILITIES
Payroll deductions
Due to Building Revenue Account
$
5,710.E9
50,000.on
TOTAL Cù~RENT LIABILITIES
$
55,710.E9
EQUITY
1,781,898.E5
TOTAL LIABILITIES A~~ EQUITY
S 1 S ~ -, Sn 9 '1!
~,_,(-JI, v "":1::
$
39,973.Q6
$
39,973.96
$
454,493.62
799,840.92
992,956.20
$2,2~;,,29').74
363,165.20
$1,884,125.54
~1 07/, oqQ5'ì
~_ó:.'::':~",-,-_.':c-
$
4,636.78
1[,0 ,!'OC) .00
$
144,636.78
1,77Q.462.ì2
~1~~~~;-() (; ~~'J:
~he notes to financial statements are an integral part of this statement.
8
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEMEN"f. OF REVENUES, EXPEì-;'Sr:S AND
CFANGES IN E°!1.I'IY
REVEWJES
OPERATING REVE~~ES
Building rents
Agricultural land rents
Other land rents
Other rents
Fixed base operator
Landing fees
Commissions
Reimbursement-Airport security
Miscellaneous income
TOTAL OPERATING REVE~~ES
OTHER REVEÌ'ilJES
Proceeds from Airport Development Aid
Program grants
Interest on investments
TOTAL OTHER REVENUES
TOTAL REVE::JUES
EXPENSES
----
OPERATING ~?ENSES
Office and Administration
Office salaries
O:':.:ice surnlies
Post2.gc
Car eXDense
T,:,avel expense
Agricultural land expense
Legal and auditing
Insurance
?ayroll taxes
Employees retirement
Telephone
Airport security
Other office and administration
SUB-TOTAL
(continued)
January 1. to December 31
1981 1930
$309,253.60
21,209.42
19,620.88
2,590.00
61,299.75
33,31"3.93
5,824.42
14,LOJ.OO
25[. .40
$467,798,40
$ 52,682,39
$ 52,682.39
$520,480.79
$ 80,648.20
1,193,03
427.70
3,391.70
1,780.97
3,67'].21
6,559.59
37,21'0),53
12,772,12
1'f, 95') .56
2,89:'f.59
14,[,00.00
5,251.11
$175,lL;0.29
$304,474.93
19,600.80
lS,812.45
1,61+0.00
52, 9!+0 .54
3+,1'+1.36
6,ì24.89
14,4C'0.CO
3 J.IO :"6
$456,1/+5.53
$227,036.14
l'ìO .00
---.
$227,136.14
$683 ,2;~I .67
$ 69,99J,'JO
1,139.21
39/+.73
If, 742 J+S
1,934.21
1. 883.46
7,23:1.C5
39.f39.39
1 2 , ]C) :;+. 7 9
4,143.J5
2 ASS .40
1+.4;10.(':)
~...27'L37
$1(>,+ , C :;6 . 2 L;'
9
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
STATEM~NT OF REVENUES, EXPENSES AND
C:-IANGES TN EQ'JITY
(continued)
January 1 to December 31
1981 1980
Maintenance
Building maintenance
Runways, taxiways and ramps
Equipment, gas, oil and repairs
Utilities
Grounds maintenance
Janitor supplies
Maintenance salaries
Snow removal
Airfield lighting equipment
Fire department expense
Railroad track repair
Other maintenance expense
SUB-TOTAL
$ 23,674.17 $ 8,886.80
26,689.59 7,489.24
11,715.06 12,541. 76
29,563,18 27,868.24
1,806.06 493.21
2,111.67 2,131.66
115,983 .77 108,541.00
62.DO 45,00
1,078.93 534.56
4,727.D4
lO,OOO.OO
3,717.69 16,340.53
$ 221,129.16 $ 194,872.00
$ 121,775J~1 $ 1) 6 , 3!+~,) .67
$ 518,0/"4.:36 $ 465,868.91
$ 2,L.35.93 $ 217,412.76
1,779,462.72 ì. ,5:)2 .D4Q .:L~
.1.1. 781. 898,65 $ll..U..2_~~i~. 7.£
Depreciation
TOTAL EXPENSES
EXCESS OF REVENUES OVER EXPENSES
EQUITY-January 1
EQUITY-December 31
The notes to financial statements are an integral part of this statement,
lO
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCO~~7
STATEMENT OF CHANGES IN FINANCIAL POSITION
January 1 to December 31
1981 1980
FUNDS WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Decrease in working capital
$ 2,435.93
121,775.41
TOTAL FUNDS PROVIDED
1-124.211.34
FU~~S WERE APPLIED TO:
Capital expenditures
Increase in working capital
$ 55,092.61
69,118.73
$124,211,34
TOTAL FUNDS APPLIED
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
$(19,807.36)
Current Liabilities-Decrease (Increase)
Payroll deductions
Due to Building Revenue Account
( 1,073.91)
90,000.00
TOTAL INCREASE (DECREASE) IN WORKING CAPITAL
$ 69.118.73
$217 ,412.76
106,340.67
97,929.31
llil,682.74
$421,6Q2.74
~!:L~2 -L ~~
$(41,566.88)
637.57
--L:1., nOD ,00)
~( 9 7 .=22.,°=-,lD
The notes to financial statements are an integral part of this statemen~.
11
SALINA AIRPORT AUTHORITY
AIRPORT REVOLVING ACCOUNT
CAPITAL EXPE~~ITURES
January 1 to December 31
1981 1980
EQUIPMENT
Tractor
Oshkosh crash/fire/rescue truck
Engineering costs-crash/fire/rescue
1980 Datsun pickup
$
6,000.00
$
194,645.00
2,178.08
4,787.00
truck
TOTAL EQUIPMENT
$
6,000,00
$20l,6l0.08
BUILDINGS
Bldg. #120-drain pipe
Bldg. #l20-show cases
Bldg. #957-boi1er
Terminal expansion
Terminal coffee shop
Bldg. #207-maintenance shop addition
Fire station building improvements
$
$
2,524.00
1,550.00
21 ,012 .00
168,706.0/+
26,280.62
21,012 .00
TOTAL BUILDINGS
2,364.00
9,399.00
16,317.61
$ 49¡On.61
$220,072 ,66
TOTAL CAPITAL EXPENDITURES
$ 55.092.61
~Z-L~~\L.ß
The notes to financial statements are an integral part of this statement.
12
$ 8,633.65 $ 155,600.49
375,000.00 400,000.00
7,348.80 1,968 .00
13,031.04
50,000.00 l40,OOO.00
$ 454,013 .49 $ 697,568.49
$ 90,000.00 $ l75,000,OO
12,296.95 15,6l2,10
$ 102,296.95 $ 190,612.10
590,000.00 765,000.00
2,907,660.44 2,347,9óO.54
.§..3,599,957.39 $3.303,572.64
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
BALANCE SHEET
1981
ASSETS
CURRE:C ASSSETS
Cash in banks
Certificates of deposit
Notes receivable
Prepaid bond interest
Due from Airport Revolving
Account
TOTAL C~RENT ASSETS
RESTRICTED ASSETS
Certificates of deposit
Provision for Bond Reserve
Provision for Replacement and
Depreciation
Reserve Fund for Non-Recurring
Maintenance and Capital Improvement
$ 21,000.00
12,000,00
550,000,00
$ 583,000.00
TOTAL RESTRICTED ASSETS
FIXED ASSETS
Buildings
Land
$2,751,042.70
478,000.00
$3,229,042.70
760,256.82
$2,468,785.88
Less-accumulated depreciation
TOTAL FIXED ASSETS
OTHER ASSETS
Long-term notes receivable
$
94,158.02
TOTAL ASSETS
$3.599.957,39
LIABILITIES AND EQUITY
CURRE~~ LIABILITIES
Bonds payable
Accrued bond interest
TOTAL CURRENT LIABILITIES
LONG-TE~~ LIABILITIES
Bonds payable
EQUITY
TOTAL LIABILITIES AND EQUITY
The notes to financial statements are an integral part of this
December 31
1980
$ 2l,000.00
12,000,00
250.000.00
$ 283,000.00
$2,5l2,325.07
~78 ,000 ,OQ..
$2,990,325.07
677,041.69
$2,313,283,38
$
9 , 720 .77
$3.303.572,64
statement.
13
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN EQUITY
January 1 to December 31
1981 1980
REVENUES
OPERATING REVENUES
Build ing rents
Agricultural land rents
Other land rents
Hangar rents
Other rents
TOTAL OPERATING REVENUES
$ 337,904,53 $ 322,094.53
26,738.81 36,310.64
1,355.00 280.00
29,698.32 19,580.00
39,750.03 41,341.71
$ 435,446.69 $ 419,606.88
$ 132,666,63 $ 49,453.00
7,043.90 198.71
113,856,79 62,937.35
$ 689,014.01 $ 532,195.94
OTHER REVENUES
Sale of property
Interest on sale of property
Interest on investments
TOTAL REVENUES
EXPENSES
OPERATING EXPENSES
Agricultural land expenses
Building maintenance
Railroad track repair
Bond interest expense
Expense relating to bond issues
Depreciation
EQUITY-December 31
$ 1,931.77 $ 1 , 821. 80
464.76
1,000,00
38,663.32 46,992.73
372 ,50 520.69
87,881.76 8l,233.92
$ 129,314,11 $ l3l,569.l4
$ 559,699,90 $ 400,626.80
2,347.960.54 1, 947 ,333.74
$2.907,660.44 $2.347.960.54
TOTAL EXPENSES
EXCESS OF REVENUES OVER EXPENSES
EQUITY-January 1
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
January 1 to December 31
1981 1980
$ 559,699.90 $ 400,626.80
87,881.76 81,233.92
5,333.37
155,239.85 103,475.04
$ 808,154.88 $ 585.335.76
$ 248, 717 .63 $ 150,614.99
300,000,00 250,000.00
84,437.25 9,720.77
175,000.00 175,000.00
$ 808.154.88 $ 585.335,76
FUNDS WERE PROVIDED BY:
Excess of revenues over expenses
Depreciation
Basis of assets disposed of
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 liabilities
TOTAL FUNDS APPLIED
CHANGES IN WORKING CAPITAL
Current Assets-Increase (Decrease)
Cash in banks
Certificates of deposit
Notes receivable
Prepaid bond interest
Due from Airport Revolving Account
$(146,966.84)
( 25,000,00)
5,380.80
13 ,031.04
( 90,000.00)
Current Liabilities-Decrease (Increase)
Bonds payable
Accrued bond interest
85,000.00
3,315.15
$(155,239.85)
TOTAL INCREASE (DECREASE) IN WORKING CAPITAL
$ 134,090.45
(175,000.00)
1,968,00
( 2,004.72)
57,000.00
(105,000.00)
( 1!;,528.77)
$(103,475.04)
The notes to financial statements are an integral part of this statement.
15
BUILDINGS
Port-A-Port Hangars
Nelson hangar
Blue Beacon hangar
Heaters
Relocating gas line
Bldg, #102l-addition
Bldg. #102l-paint booth
Bldg. #620-overhead door
TOTAL CAPITAL EXPENDITURES
SALINA AIRPORT AUTHORITY
BUILDING REVENUE ACCOUNT
CAPITAL EXPENDITURES
January 1 to December 31
1981 1980
$ 60,688.63
85,000.00
85,000.00
4,769.00
13,260.00
$ 20,550,00
77,385.98
49,144.90
3,534.11
$248,717,63
$150~614.99
The notes to financial statements are an integral part of this statement.
16
General Obligation Bonds
Building Revenue Bonds-Series 1971
Building Revenue Bonds-Series 1972
Building Revenue Bonds-Series 1973
Building Revenue Bonds-Series 1973-2
SALINA AIRPORT AUTHORITY
BONDS OF INDEBTEDNESS
Pecember 31, 1981
Original
Issue
Pr inc ipa 1
Paid
Outstanding
Balance
$270,000.00
150,000.00
no ,000.00
150,000.00
$680,000,00
The notes to financial statements are an integral part of this statement.
17
$ 790,000.00 $ 520,000.00
250,000.00 250,000.00
500,000.00 350,000.00
350,000.00 240,000,00
350,000.00 200,000.00
$2.240.000.00 $1.560.000.00
SALINA AIRPORT AUTHORITY
GENERAL OBLIGATION BONDS
December 31, 1981
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
$520,000,00
$270,000.00
Schedule of Payments
Due in Bond Bond
Year Principal Interest
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
$315,000.00 $37.462,59
*
Paid December 31, 1981
18
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1972
December 31, 1981 '
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
$350,000,00
$150,000.00
Schedule of Payments
Due In Bond Bond
Year Principal Interest
1982 $ 50,000.00 $ 7,500.00
1983 50,000.00 5,000,00
1984 50.000,00 2.500,00
$150,000.00 $15.000,00
19
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1973
December 31, 1981
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
$240,000.00
$110,000.00
Schedule of Payments
Due in Bond Bond
Year Pr inc ipa1 Interest
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
$150,000.00 $15,225.00
*
Paid December 21, 1981
20
SALINA AIRPORT AUTHORITY
BUILDING REVENUE BONDS-SERIES 1973-2
December 31, 1981
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
$200,000.00
$150,000.00
Schedule of Payments
Due In Bond Bond
Year Principal Interest
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
$150.000.00 $23.725.00
21
SALINA AIRPORT AUTHORITY
RECONCILEMENT OF FISCAL AGENCY ACCOUNT
pecember 31, 1981
BALANCE WITH FISCAL AGENCY-January 1, 1981
$
168,74
REMITTANCES
Matured bonds
Interest coupons
Bond commission and postage
$45,000.00
11 ,446.92
11.25
56,458.17
$56,626.91
TOTAL REMITTANCES AND BEGINNING BALANCE
RETURNS
Cancelled bonds
Interest coupons
Commission and postage retained
$45,000,00
11,615,66
11.25
$56,626.91
BALANCE WITH FISCAL AGENCY-December 31, 1981
$
-0-
22
AIRPORT REVOLVING ACCOUNT
Certificates of deposit $
BUILDING REVENUE ACCOUNT
Certificates of deposit
TOTAL-
GENERAL OPERATING FUND
SALINA AIRPORT AUTHORITY
SCHEDULE OF INVESTMENTS
December 31, 1981
Balance
1-1-81
683,000.00
$683,000.00
Purchases Redemptions ,Balance
Year 1981 Year 1981 12-31-81
$ '$ $
2,975.000.00 .2t.Zgo ,000 .00 958.000,00
$2.975.000.00 ~IO,OOO .00 $958,000.00
23
Workmen's Compensation and
Employer's Liability
Comprehensive General
Liability
Owners', 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, 1981
Type of Coverage
Bodily injury and
property damage
Bodily injury and
property daIIlage
Fire and lightning,
extended coverage,
vandalism and malicious
mischief-rental value
insurance
Fire and lightning,
extended coverage
Amount of
Coverage
Co-Insurance
Percentage
$
100,000,00
500,000.00
500,000.00
566,570,00
83,800,00
Fire and lightning,
extended coverage,
vandalism and malicious
mischief 2,545,000,00
Liab il ity
Physical damage
Medical payments
Uninsured motorists
Honesty blanket
position bond coverage
90%
500,000.00
328,787.00
2,000.00
15/30,000,00
100,000.00
24