Audit - 1984
THE SALINA ARTS AND HUMANITIES COMMISSION
Salina, Kansas
REPORT ON EXAHINATION
December 31, 1984
WOODS & DURHAM
Certified Public Accountants
Salina, Kansas
WOODS & DURHAM
CERTIAED PUBLIC ACCOUNTANTS
SALINA, KANSAS
605 W, NORTH STREET
P,O. BOX 1324
SALINA, KANSAS 67402-1324
AREA 913 825-5494
Salina Arts and Humanities Commission
Salina, Kansas
We have examined the statement of assets, liabilities, and fund balance aris-
ing from cash transactions of the Salina Arts and Humanities Commission (for-
merly the Salina Arts Commission) as of December 31, 1984, and the related
statement of receipts, disbursements, and changes in fund balance for the
year then ended. Our examination was made in accordance with generally ac-
cepted auditing standards, and accordingly, included such tests of the ac-
counting records and such other auditing procedures as we considered neces-
sary in the circumstances.
As described in Note 1, the Commission's policy is to prepare its financial
statements on the basis of cash receipts and disbursements; consequently,
certain revenue and the related assets are recognized when received rather
than when earned, and certain expenses are recognized when paid rather than
when the obligation is incurred. Accordingly, the accompanying financial
statements are not intended to present financial position and results of op-
erations in conformity with generally accepted accounting principles.
In our opinion, the financial statements referred to above present fairly
the assets and liabilities arising from cash transactions of the Salina Arts
and Humanities Commission as of December 31, 1984, and the revenues collect-
ed and disbursements made during the year then ended, on the basis of ac-
counting described in Note 1, applied in a manner consistent with the pre-
ceding year.
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January 21, 1985
WOODS & DURHAM
THE SALINA ARTS AND HUHANITIES COMMISSION
Salina, Kansas
STATEMENT OF ASSETS, LIABILITIES AND FUND BALANCE
December 31, 1984
Cash
Investments
Equipment
Fund balance
ASSETS
LIABILITIES AND FUND BALANCE
See Notes to Financial Statements.
$1,305
690
4,39Q
$6,38~
$6,3B5
THE SALINA ARTS AND HUMANITIES COMMISSION
Salina, Kansas
STATEMENT OF RECEIPTS, DISBURSEMENTS, AND
CHANGES IN FUND BALANCE
December 31,1984
RECEIPTS
General
Government contracts
City of Salina
U.S.D. 305
K.A.C.
Private contributions
Other
Contracted revenues
Transfers
Interest
Miscellaneous
Earned revenue
Admissions
DISBURSEMENTS
Salaries
General, administrative
Travel
Miscellaneous
Arts programs
Services
Transfer
and grants
$71,524
6,500
11,943
3,000
618
10,850
312
2,656
1,177
and operating
58,411
6,730
3,033
935
28,998
8,442
1,969
RECEIPTS OVER (UNDER) DISBURSEMENTS
FUND BALANCE - January 1, 1984
FUND BALANCE - December 31, 1984
See Notes to Financial Statements.
$108,580
108,518
62
6,323
$ 6,385
THE SALINA ARTS AND HUHANITIES COMHISSION
Salina, Kansas
NOTES TO FINANCIAL STATEMENTS
December 31, 1984
NOTE 1 - SUMMARY OF ACCOUNTING POLICIES
The Salina Arts Commission is now recognized as the Salina Arts and
Humanities Commission. No operational or policy changes have oc-
curred due to the name change.
A. Basis of Presentation - The accompanying financial statements are
prepared on the cash basis; consequently, revenues are recorded
when received and expenses are recognized when disbursed.
B. A separate audit report has been issued for the Smoky Hill River
Festival as of September 30, 1984, and for the Artist in Resi-
dence Program as of December 31, 1984. Both are programs of the
Salina Arts and Humanities Commission.
C. Property, Plant and Equipment - The amount
sets represents equipment purchased by the
ities Commission. Such assets are recorded
has not been provided on these assets.
recorded as fixed as-
Salina Arts and Human-
at cost. Depreciation
D. Investments are recorded at cost.
E. The Salina Arts and Humanities Commission is exempt from federal
income taxes under Section 501 of the Internal Revenue Code.